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CITY OF GEM LAKE, MINNESOTA NOTES TO BASIC FINANCIAL STATEMENTS DECEMBER 31, 2014 NOTE 2 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 following is a list of investments Which individually comprise more than 5% of the City's total investments: Type Amount _ Percentage Build America Bonds - Shoreview $ 150,224 20.94.% Negotiable Certificates of Deposit GE Capital Bank CD 246.,160 34,3o% Goldman Sachs Bank CI] 140,566 19.59% NOTE 3 CAPITAL ASSETS Capital asset activity for the.year ended December 31, 2014 was as follows: Governmental Activities Capital Assets Being. Depreciated Buildings 0 fface. Equipment Infrastructure Total Capital Assets Being Depreciated Accumulated Depreciation: Buildings. Office Equipment Infrastructure Total Accumulated Depreciation Net Capital.Assets - Capital Activities Beginning Ending Balance Increases Decreases Balance $ 902,232 5 $ - S 902,232 13,190 662 (957) 12,695 712,788 - - 712,786 1,628,210 662 {957} 1,627,915. (132,086) (VA97). (154,583) (8,469) (1, 242) 957 (01744) (352,132). (3%437) (492,677) (62,176). 957 (553,896) S 1,135,533 $. (61,514). .$ $ 1,074,019 Depreciation expense was charged to the. governmental functions as follows: General Government $ 2.3,730 Public. Works 38;43.7 Total. Depreciation - Governmental Activities 62,176.. Beginning Eridirig Balance: Increases Decreases Balance Sewer Utility Capital.Assets Being Depreciated: Infrastructure $ 817,539 $ $ $.. 617.,539 Less: Accumulated Depreciation (1111.887) (12,456) (1.24,343) Net Capital Assets - Sewer Utility $: 505.652 S (12,45-6). $ - 5 493,196 (26)