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City of Orono, Minnesota
<br />Notes to the Financial Statements
<br />December 31, 2021
<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 201,636$
<br />Investments 30,902,714
<br />Total 31,104,350$
<br />B.Capital Assets
<br />Capital asset activity for the year ended December 31, 2021 was as follows:
<br />Beginning Ending
<br />Balance Increases Decreases Balance
<br />Governmental Activities
<br />Capital Assets not Being Depreciated
<br />Land 7,677,435$ -$ -$ 7,677,435$
<br />Construction in progress 2,077,173 1,780,607 (1,751,519) 2,106,261
<br />Total Capital Assets not
<br />Being Depreciated 9,754,608 1,780,607 (1,751,519) 9,783,696
<br />Capital Assets Being Depreciated
<br />Infrastructure 15,682,035 1,287,795 - 16,969,830
<br />Buildings and systems 9,187,905 - - 9,187,905
<br />Improvements other than buildings 3,040,716 858,920 - 3,899,636
<br />Machinery and equipment 5,334,297 420,150 (114,288) 5,640,159
<br />Total Capital Assets
<br />Being Depreciated 33,244,953 2,566,865 (114,288) 35,697,530
<br />Less Accumulated Depreciation for
<br />Infrastructure (3,333,942) (392,164) - (3,726,106)
<br />Buildings and systems (1,429,611) (187,340) - (1,616,951)
<br />Improvements other than buildings (1,718,517) (99,928) - (1,818,445)
<br />Machinery and equipment (2,957,637) (386,682) 114,288 (3,230,031)
<br />Total Accumulated Depreciation (9,439,707) (1,066,114) 114,288 (10,391,533)
<br />Depreciated, Net 23,805,246 1,500,751 - 25,305,997
<br />Governmental Activities
<br />Capital Assets, Net 33,559,854$ 3,281,358$ (1,751,519)$ 35,089,693$
<br />Total Capital Assets Being
<br />DRAFT
<br />65
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