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<br />NOTE 3 – CAPITAL ASSETS
<br />
<br />Capital asset activity for the year ended December 31, 2022 was as follows:
<br />
<br />A. Changes in Capital Assets Used in Governmental Activities
<br />
<br />Balance –Transfers and
<br />Beginning Completed Balance –
<br />of Year Additions Deletions Construction End of Year
<br />Capital assets, not depreciated
<br />Land 2,500$ –$ –$ –$ 2,500$
<br />Construction in progress 227,277 9,626 – (236,903) –
<br />Total capital assets, not depreciated 229,777 9,626 – (236,903) 2,500
<br />Capital assets, depreciated
<br />Buildings 907,712 – – – 907,712
<br />Office equipment 18,678 525 – – 19,203
<br />Infrastructure 1,563,728 – – 236,903 1,800,631
<br />Total capital assets, depreciated 2,490,118 525 – 236,903 2,727,546
<br />Less accumulated depreciation for
<br />Buildings (312,199) (22,634) – – (334,833)
<br />Office equipment (15,154) (1,272) – – (16,426)
<br />Infrastructure (738,009) (75,632) – – (813,641)
<br />Total accumulated depreciation (1,065,362) (99,538) – – (1,164,900)
<br />Net capital assets, depreciated 1,424,756 (99,013) – 236,903 1,562,646
<br />Net capital assets 1,654,533$ (89,387)$ –$ –$ 1,565,146$
<br />
<br />B. Changes in Capital Assets Used in Business-Type Activities
<br />
<br />Balance –Transfers and
<br />Beginning Completed Balance –
<br />of Year Additions Deletions Construction End of Year
<br />Capital assets, depreciated
<br />Infrastructure 1,547,940$ –$ –$ –$ 1,547,940$
<br />Less accumulated depreciation for
<br />Infrastructure (285,669) (29,535) – – (315,204)
<br />Net capital assets 1,262,271$ (29,535)$ –$ –$ 1,232,736$
<br />
<br />C. Depreciation Expense by Function
<br />
<br />Depreciation expense was charged to the following functions:
<br />
<br />Governmental activities
<br />General government 23,906$
<br />Public works 74,882
<br />Conservation and development 750
<br />Total depreciation expense – governmental activities 99,538$
<br />
<br />Business-type activities
<br />Water 13,469$
<br />Sewer 16,066
<br />Total depreciation expense – business-type activities 29,535$
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