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CITY OF PEQUOT LAKES, MINNESOTA
<br />NOTES TO THE BASIC FINANCIAL STATEMENTS
<br />DECEMBER 31, 2019
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<br />35
<br />NOTE 2 DETAIL NOTES ON TRANSACTION CLASSES/ACCOUNTS (Continued)
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<br />Balance at Balance at
<br />01/01/19 Additions Disposals Transfers 12/31/19
<br />Business-Type Activities:
<br />Capital Assets not Being
<br />Depreciated
<br />Land 156,969$ -$ -$ -$ 156,969$
<br />Construction In Progress 24,570 68,553 - (93,123) -
<br />Total Capital Assets not Being
<br />Depreciated 181,539 68,553 - (93,123) 156,969
<br />Capital Assets Being
<br />Depreciated
<br />Buildings and Improvements 1,125,329 - - - 1,125,329
<br />Machinery and Equipment 3,330,249 23,141 (15,966) 93,123 3,430,547
<br />Infrastructure 1,512,530 - - - 1,512,530
<br />Total Capital Assets Being
<br />Depreciated 5,968,108 23,141 (15,966) 93,123 6,068,406
<br />Less: Accumulated Depreciation
<br />Buildings and Improvements (1,072,385) (3,908) - - (1,076,293)
<br />Machinery and Equipment (2,026,592) (91,718) 15,966 - (2,102,344)
<br />Infrastructure (207,778) (38,959) - - (246,737)
<br />Total Accumulated
<br />Depreciation (3,306,755) (134,585) 15,966 - (3,425,374)
<br />Total Capital Assets Being
<br />Depreciated, Net 2,661,353 (111,444) - 93,123 2,643,032
<br />Capital Assets, Net 2,842,892$ (42,891)$ -$ -$ 2,800,001$
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<br />2.C. NONCURRENT LIABILITIES
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<br />The City’s long-term debt is segregated between the amounts to be repaid from governmental activities and amounts to be repaid
<br />from business-type activities.
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<br />Debt Detail
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<br />As of December 31, 2019, the long-term debt of the financial reporting entity consists of the following:
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<br />Governmental Activities
<br />Issue Original Annual Principal Interest Maturity Remaining
<br />Date Amount Payment Rate(s)Date Amount
<br />02/17 135,000$ $9,100 - $32,900 2.99%08/22 95,800$
<br />General Obligation Certificates
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