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CITY OF GEM LAKE, MINNESOTA <br />NOTES TO BASIC FINANCIAL STATEMENTS <br />DECEMBER 31, 2011 <br />NOTE 3 CAPITAL ASSETS <br />Capital asset activity for the year ended December 31, 2011 was as follows. <br />Beginning Ending <br />Balance Increases Decreases Balance <br />Governmental Activities: <br />Capital Assets Being Depreciated: <br />Buildings <br />Office Equipment <br />Infrastructure <br />Total Capital Assets Being Depreciated <br />Accumulated Depreciation: <br />Buildings <br />Office Equipment <br />Infrastructure <br />Total Accumulated Depreciation <br />Net Capital Assets - Capital Activities <br />$ 898,708 $ <br />3,524 $ <br />$ 902,232 <br />13,190 <br />- <br />13.190 <br />712,788 <br />712,788 <br />1,624,686 <br />3,524 <br />1,628,210 <br />(64,595) <br />(22,497) <br />- (87,092) <br />(4,508) <br />(1,506) <br />- (6,014) <br />(236,822) <br />(38,436) <br />- (275,258) <br />(305,925) <br />(62,439) <br />- (368,364) <br />$ 1,318,761 $ (58,915) $ $ 1,259,846 <br />Depreciation expense was charged to the governmental functions as follows: <br />General Government <br />Public Works <br />Total Depreciation - Governmental Activities <br />Sewer Utility <br />Capital Assets Being Depreciated: <br />Infrastructure <br />Less: Accumulated Depreciation <br />Net Capital Assets - Sewer Utility <br />$ 24,003 <br />Beginning <br />Balance Increases Decreases <br />Ending <br />Balance <br />$ 617,539 $ - $ $ 617,539 <br />(74,517) (12,456) (86,973) <br />$ 543,022 $ (12,456) $ $ 530,566 <br />(25) <br />