2013 FINANCIAL STATEMENT - Laserfiche WebLink

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l CITY OF GEM LAKE, MINNESOTA NOTES TO BASIC FINANCIAL STATEMENTS DECEMBER 31, 2013 ( NOTE 3 CAPITAL ASSETS Capital asset activity for the year ended December 31, 2013 was as follows: Beginning Ending Balance Increases Decreases Balance � Governmental Activities _ Capital Assets Being Depreciated: Buildings $ 902;232. $ - $ - $ 902,232 Office Equipment 13,190 13,190 Infrastructure 712;788 = Y 712;788 Total Capital Assets Being Depreciated 1,628,210 - - 1.628,210 Accumulated Depreciation: Buildings (109589) (22,497) Office Equipment (.71520). .(939) - (8,459) Infrastructure (3i3;695) .(3B,437) - (352,132). Total Accumulated Depreciation (430,80.4) (61,873) (492,677) Net Capital Assets;- Capital Activities $ 1,197,406 $ (61;873) $ - $ 1,135533 expense Depreciation p p se was charged to the governmental functions as follows: General Government $ 23,436 Public Works 3a.,437 Total Depreciation - Governmental Activities $ 61 g73 i Beginning Ending Balance Increases Decreases Balance ( Sewer Utility €[ Capital Assets: Being Depreciated:' Infrastructure $ 61.7,539 $ - $ - $ 617539 Less: Accurulated Depreciation (99,430) (12,457) - (111,887) Net Capital Assets - Sewer Utility $ 518,1.09 $ (12.457) $ $ 505,652 (26)