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<br />NOTE 3 – CAPITAL ASSETS
<br />
<br />Capital asset activity for the year ended December 31, 2023 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 – 31,280 – – 31,280
<br />Total capital assets, not depreciated 2,500 31,280 – – 33,780
<br />Capital assets, depreciated
<br />Buildings 907,712 – – – 907,712
<br />Office equipment 19,203 – – – 19,203
<br />Infrastructure 1,800,631 116,223 – – 1,916,854
<br />Total capital assets, depreciated 2,727,546 116,223 – – 2,843,769
<br />Less accumulated depreciation for
<br />Buildings (334,833) (27,336) – – (362,169)
<br />Office equipment (16,426) (1,359) – – (17,785)
<br />Infrastructure (813,641) (82,033) – – (895,674)
<br />Total accumulated depreciation (1,164,900) (110,728) – – (1,275,628)
<br />Net capital assets, depreciated 1,562,646 5,495 – – 1,568,141
<br />Net capital assets 1,565,146$ 36,775$ –$ –$ 1,601,921$
<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 (315,204) (38,866) – – (354,070)
<br />Net capital assets 1,232,736$ (38,866)$ –$ –$ 1,193,870$
<br />
<br />C. Depreciation Expense by Function
<br />
<br />Depreciation expense was charged to the following functions:
<br />
<br />Governmental activities
<br />General government 28,695$
<br />Public works 81,283
<br />Conservation and development 750
<br />Total depreciation expense – governmental activities 110,728$
<br />
<br />Business-type activities
<br />Water 21,547$
<br />Sewer 17,319
<br />Total depreciation expense – business-type activities 38,866$
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