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City of Orono, Minnesota
<br />Notes to the Financial Statements
<br />December 31, 2019
<br />Note 3: Detailed Notes on All Funds (Continued)
<br />A reconciliation of cash and temporary investments as shown on the statement of net position for the City follows:
<br />Carrying Amount of Deposits 209,217$
<br />Investments 14,387,263
<br />Total 14,596,480$
<br />B. Capital Assets
<br />Capital asset activity for the year ended December 31, 2019 was as follows:
<br />Beginning Ending
<br />Balance Increases Decreases Balance
<br />Governmental Activities
<br />Capital Assets not Being Depreciated
<br />Land 7,337,435$ -$ -$ 7,337,435$
<br />Construction in progress 3,946,328 2,034,056 (3,856,264) 2,124,120
<br />Total Capital Assets not
<br />Being Depreciated 11,283,763 2,034,056 (3,856,264) 9,461,555
<br />Capital Assets Being Depreciated
<br />Infrastructure 10,362,353 3,867,698 - 14,230,051
<br />Buildings and systems 9,160,345 27,560 - 9,187,905
<br />Improvements other than buildings 2,633,048 - - 2,633,048
<br />Machinery and equipment 4,643,003 341,421 (80,742) 4,903,682
<br />Total Capital Assets
<br />Being Depreciated 26,798,749 4,236,679 (80,742) 30,954,686
<br />Less Accumulated Depreciation for
<br />Infrastructure (1,375,480) (259,173) -(1,634,653)
<br />Buildings and systems (2,791,126) (186,952) -(2,978,078)
<br />Improvements other than buildings (1,158,407) (83,864) -(1,242,271)
<br />Machinery and equipment (2,556,312) (331,172) 80,742 (2,806,742)
<br />Total Accumulated Depreciation (7,881,325) (861,161) 80,742 (8,661,744)
<br />Depreciated, Net 18,917,424 3,375,518 - 22,292,942
<br />Governmental Activities
<br />Capital Assets, Net 30,201,187$ 5,409,574$ (3,856,264)$ 31,754,497$
<br />Total Capital Assets Being
<br />11,283,763 2,034,056 (3,856,264)(3,856,264)
<br />Capital Assets Being DepreciatedCapital Assets Being Depreciated
<br />10,362,35310,362,353 3,867,6983,867,698
<br />9,160,3459,160,345 27,56027,560
<br />Improvements other than buildingsImprovements other than buildings 2,633,0482,633,048 -
<br />Machinery and equipmentMachinery and equipment 4,643,0034,643,003 341,421341,421 (80,742)(80,742)
<br />26,798,74926,798,749 4,236,6794,236,679 (80,742)(80,742)
<br />71
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