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CITY OF GEM LAKE, MINNESOTA <br />NOTES TO BASIC FINANCIAL. STATEMENTS <br />DECEMBER 31, 2007 <br />NOTE 3 CAPITAL ASSETS. <br />Capital asset activity for the year ended December 31., 2007 was as follows: <br />Govemmental Activities: <br />Capital Assets Not.Beirig Depreciated: <br />Construction in Progress <br />Capital Assets Being Depreciated: <br />Office Equipment <br />Infrastructure <br />Total Capital Assets.Being Depreciated <br />Total Capital Assets <br />Accumulated Depreciation; <br />Beginning Ending <br />Balance Increases Decreases Balance <br />$ - $ . 814,132 $ - $ 814,152 <br />1.,250 - 11250 <br />699,782. - - 699,782 <br />699,782 1,250 - 701,032 <br />699,782 815.882 - 1.515,164 <br />Office Equipment - (219) - (210) <br />Infrastructure (119,062) (30,695) - (149,757) <br />Total Accumulated Depreciation (1.19,062�_ (30,914) - (149,976) <br />Net Capital Assets - Capital Activities $ 580,720 $ 784.468. $ - $1.365.188 <br />Depreciation expense was. charged. to the governmental functions as follows: <br />General Government $ 219 <br />Public Works 301695 <br />Total Depreciation - Govemmental Activities $ 30,914 <br />Beginning Ending <br />Balance Increases Decreases Balance <br />Sewer Utility <br />Capital Assets Being Depreciated; <br />Infrastructure $ 510,175 $ - $ - $ 570,775 <br />Less: Accumulated Oepreclation (27,726). [11.416) - (39,1.42) <br />Net Capital Assets - Sewer Utility $ 543,049 $ (11,416] $ - $ 531.,.6.33 <br />(24) <br />