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NOTE 2 CITY OF GEM LAKE, MINNESOTA NOTES TO BASIC. FINANCIAL STATEMENTS DECEMBER 3.1, 2016 DEPOSITS AND INVESTMENTS (CONTINUED) Concentration of Credit Risk The City places no limit on .the amount that the. City may invest in any one issuer.. The fgllowing is a list of investments which individually comprise more. than 5% of the City's total investments: Type Amount. Percentage. .Government Money Market Mutual Funds $ 165,254. 22-72% Negotiable Certificates of Deposit Santander Bank CD 175,000 24:06% GE Capital Bank. CD 245.,012 33.83% Goldman Sachs Bank CQ 141,013 19.39%... NOTE 3 CAPITAL ASSETS Capital asset activity for the year ended December3;1, 2015 was as follows: l3eginning Ending Balance:. ` Increases Decreases Balance Governmental Activities Capital -Assets Not Being Depreciated: construction in Progress 94,367 $ - $ 94,367 Capital Assets Being Depreciated: Buildings Office Equipment Infrastructure' Total Capltal Assets t3ein0 t7epracieted. Accumulated Depreciation.:... Buildings office Equipment infrastructure Total Accumulated Depreciation 902,232 - - 902,232 12,895 - - '12,895 712,.788 - - 712788 1,627,915 -. - 1,627,915 0500 (22,947) _ (177,530) (8,744) (1,242) - (9,986) 03gmw (38.4371 (429,008 (5.53,896): (82,626) - (61.6,522) Net Capital Assets-'Capital.Activities. 1jD74j01.0 $ $1,741 $ $ 1,105,760 Depreciation expense was. charged to the governmental functions as follows: General GoWmment $ 24,189 Public Works 38,437 Total Depreciation - Governmental A�,tivit'ies $ 62;526 Beginning Ending Balance Increases Decreases Balance Sewer Utility Capital Assets Being Depreciated: Infrastructure $. 617,539 5 - $ - 5 617,539. Less: Accumulated Depreciation (124,343). (12,457) - (136,800). Net Capital Assets - Sewer Utility $ 493,196 ;$ (12,45.7) 3. - S 480,739 (24)