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City of Orono, Minnesota
<br />Notes to the Financial Statements
<br />December 31, 2020
<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 (138,909)$
<br />Investments 15,503,000
<br />Total 15,364,091$
<br />B.Capital Assets
<br />Capital asset activity for the year ended December 31, 2020 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$ 340,000$ -$ 7,677,435$
<br />Construction in progress 2,124,119 1,716,760 (1,763,706) 2,077,173
<br />Total Capital Assets not
<br />Being Depreciated 9,461,554 2,056,760 (1,763,706) 9,754,608
<br />Capital Assets Being Depreciated
<br />Infrastructure 14,230,052 1,451,983 - 15,682,035
<br />Buildings and systems 9,187,905 - - 9,187,905
<br />Improvements other than buildings 2,633,048 407,668 - 3,040,716
<br />Machinery and equipment 4,903,682 629,462 (198,847) 5,334,297
<br />Total Capital Assets
<br />Being Depreciated 30,954,687 2,489,113 (198,847) 33,244,953
<br />Less Accumulated Depreciation for
<br />Infrastructure (1,634,653) (355,864) - (1,990,517)
<br />Buildings and systems (2,978,078) (187,340) - (3,165,418)
<br />Improvements other than buildings (1,242,271) (83,864) - (1,326,135)
<br />Machinery and equipment (2,806,742) (346,148) 195,253 (2,957,637)
<br />Total Accumulated Depreciation (8,661,744) (973,216) 195,253 (9,439,707)
<br />Depreciated, Net 22,292,943 1,515,897 (3,594) 23,805,246
<br />Governmental Activities
<br />Capital Assets, Net 31,754,497$ 3,572,657$ (1,767,300)$ 33,559,854$
<br />Total Capital Assets Being
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