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CITY OF PEQUOT LAKES, MINNESOTA
<br />NOTES TO THE BASIC FINANCIAL STATEMENTS
<br />DECEMBER 31, 2019
<br />
<br />
<br />34
<br />NOTE 2 DETAIL NOTES ON TRANSACTION CLASSES/ACCOUNTS (Continued)
<br />
<br />2.B. CAPITAL ASSETS
<br />
<br />Capital asset activity for the year ended December 31, 2019 is as follows:
<br />
<br />Balance at Balance at
<br />01/01/19 Additions Disposals Transfers 12/31/19
<br />Governmental Activities:
<br />Capital Assets not Being
<br />Depreciated
<br />Land 1,596,318$ -$ -$ -$ 1,596,318$
<br />Construction In Progress 956,498 214,534 - (958,897) 212,135
<br />Total Capital Assets not Being
<br />Depreciated 2,552,816 214,534 - (958,897) 1,808,453
<br />Capital Assets Being
<br />Depreciated
<br />Buildings and Improvements 1,655,859 - - 958,897 2,614,756
<br />Machinery, Furniture and
<br />Equipment 3,351,427 144,187 (132,681) - 3,362,933
<br />Infrastructure 7,110,581 - - - 7,110,581
<br />Total Capital Assets Being
<br />Depreciated 12,117,867 144,187 (132,681) 958,897 13,088,270
<br />Less: Accumulated Depreciation
<br />Buildings and Improvements (757,638) (64,639) - - (822,277)
<br />Machinery, Furniture and
<br />Equipment (1,776,501) (221,153) 127,215 - (1,870,439)
<br />Infrastructure (3,033,211) (271,272) - - (3,304,483)
<br />Total Accumulated
<br />Depreciation (5,567,350) (557,064) 127,215 - (5,997,199)
<br />Total Capital Assets Being
<br />Depreciated, Net 6,550,517 (412,877) (5,466) 958,897 7,091,071
<br />Capital Assets, Net 9,103,333$ (198,343)$ (5,466)$ -$ 8,899,524$
<br />
<br />Depreciation is charged to governmental activities as follows:
<br />General Government 75,377$
<br />Public Safety 143,965
<br />Public Works 319,942
<br />Parks and Recreation 17,780
<br />Total Depreciation Expense 557,064$
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