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CITY OF PEQUOT LAKES, MINNESOTA
<br />MANAGEMENT’S DISCUSSION AND ANALYSIS
<br />DECEMBER 31, 2019
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<br />11
<br />THE CITY’S FUNDS (Continued)
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<br />Proprietary Funds
<br />As the City completed the year, its business-type activities reported a combined net position of $4,061,476. This is an increase of
<br />$317,321 from the prior year. The following is a summary of the City’s major proprietary funds:
<br />
<br />Increase
<br />2019 2018 (Decrease)
<br />Water 1,171,374$ 1,041,480$ 129,894$
<br />Sewer 2,890,102$ 2,702,675$ 187,427$
<br />Net Position December 31,
<br />Major Fund
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<br />The Water Fund and Sewer Fund net position increased due revenues exceeding expenses and the results of current year
<br />operations.
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<br />CAPITAL ASSET AND DEBT ADMINISTRATION
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<br />Capital Assets
<br />At the end of 2019, the City had $11,699,525 net investment in a broad range of capital assets, including machinery and
<br />equipment, buildings, improvements and infrastructure. This amount represents a net decrease of $246,700 (2.07 percent) from
<br />last year. More detailed information about the City’s capital assets is presented in the notes to the financial statements, starting on
<br />page thirty-four.
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<br />Table 4
<br />Capital Assets Net of Depreciation
<br />Governmental
<br />Activities Activities Totals
<br />2019 2018 2019 2018 2019 2018
<br />Land 1,596,318$ 1,596,318$ 156,969$ 156,969$ 1,753,287$ 1,753,287$
<br />Construction In Progress 212,135 956,498 - 24,570 212,135 981,068
<br />Buildings and Improvements 1,792,479 898,221 49,036 52,944 1,841,515 951,165
<br />Machinery, Furniture and
<br />Equipment 1,492,494 1,574,926 1,328,203 1,303,657 2,820,697 2,878,583
<br />Infrastructure 3,806,098 4,077,370 1,265,793 1,304,752 5,071,891 5,382,122
<br />Total Capital Assets 8,899,524$ 9,103,333$ 2,800,001$ 2,842,892$ 11,699,525$ 11,946,225$
<br />Business-Type
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