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NOTE 2 CITY OF GEM LAKE, MINNESOTA NOTES TO BASIC FINANCIAL STATEMENTS DECEMBER 31, 2008 DEPOSITS AND INVESTMENTS (CONTINUED) B. Investments (Continued) Credit Risk Generalljr; credit risk is the risk that an issuer of an investment will not fulfill -its. obligation to the holder of the investment.. This is measured by the ass'ignrriant of a rating by a nationally recognized statistical rating organization. The City's invesfinent policy doesn't* specifically address. credit risk. The Wells Fargo Advantage Prime Investment Money Market Mutual Fund is not rated. Concentrafiort of Credit Risk The City places no limit on the amount that the City may invest in any one.issuer. NOTE 3 CAPITAL ASSETS. Capital asset act!Vdy*forthe, year ended Deoember 31., 2008. Was as follows: Governmenfat activities: Capital Assets Not Being Depreciated: Construction in: Progress . Capital Assets Being Qepreciatod: Buildings Office Equipment Infrastructure Total Capital. Assets -Being Depreciated Total Caioitai Assets Accumulated Depreciation. - Buildings Office: Equipment Infrastructure Total Accumulated Depreciation Nel-Capita[Assets -'capital Activities Beginning Ending, Balance Increases Decreases Balance $. 8.14,132 $. - .$ (814,132) $. "VI wr 1;250 11,940 - 13,190 699,782 - 699,782 701.,.032 910,648 - 1.,611,680 1.,515,.164. 910,648 (814,1.32) 1,611,680 (1g;659) (19,659) (219) (1;277) -. (1,496) (149,157) (30,6951 - (1.80,452) -. (149,97.6) . (51,631) - (M ,607) $ 1,365,188 . $ 869,017 $ (t4132) $1,410,073 . Depreciation expense was charged to the.governmental functions as follows:. General.Govemment. $ 20,936 Public Works 30,695 Total Depreciation.- Governmental Activities $ 51,631 l23).