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CITY OF GEM LAKE, MINNESOTA <br />NOTES TO BASIC FINANCIAL STATEMENTS <br />DECEMBER 31, 2019 <br />NOTE 2 DEPOSITS AND INVESTMENTS (CONTINUED) <br />B. Investments (Continued) <br />Fair Value Measurements (Continued) <br />The levels of investments at December 31, 2019 are as follows; <br />Investment Type LeveJ 1 Level 2 Leyel.3 Total <br />Negotiable Certificates of Deposit with Maturities <br />at Purchase of Greater Than 1 Year $ 584,252 $ - 5 584,252 <br />Investments..Weasured at Amortized Cost 8,222. <br />Total $ .592;474. <br />NOTE 3 CAPITAL ASSETS <br />Capital asset activity for the year ended December 31, 201.9 was as follows: <br />Governmental Activities <br />Capital Assets Not Being. Depreciated <br />Land <br />Construction in Progress <br />Capital Assets Being Depreciated - <br />Buildings <br />Office Equipment <br />Infrastructure <br />Total Capital Assets Beifig .Depreciated <br />Total Capital:Assets <br />Accumulated Depreciation,. <br />Buildings <br />Ofifice.E..quip :merit <br />Infrastructure <br />Totai.Accumulated Depredation <br />Net Capital Assets - Capital Activities <br />.Beginning Ending <br />Balance Increases Deueases. Transfers Balance <br />$ $ 21500 $ <br />561;531 58,890 <br />902,232: - <br />12;895 5,403 <br />1,094,536 <br />2,009,663. 5,493 <br />2,571194 66,883 <br />$ - 5 2,500 <br />(620,421) - <br />902,232 <br />(4$$) 17,900. <br />_ 469.192 11563.728 <br />(488) 469,192. 2,483,860 <br />(488) (151,229) 214K360 <br />(244,571) <br />(22,49.7) - <br />(267,068) <br />(12,785). <br />(606) 485. <br />(12,905) <br />5552,341) <br />5uu - <br />(603,305) <br />809607 <br />(74;069]_ 488 . <br />883 278 <br />$ 1.761,497 5 (7,196) $ $ (151;229) $ 1,603,082 <br />Depreciation expense Was charged to the.governmental functions as follows: <br />General Government $ 23,105 <br />Public Works 50,964 <br />Total Depreciation%- Governmental Activities. $ 74,069 . <br />(z4) <br />