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City of Orono, Minnesota
<br />Notes to the Financial Statements
<br />December 31, 2022
<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 65,452$
<br />Investments 32,103,360
<br />Total 32,168,812$
<br />B.Capital Assets
<br />Capital asset activity for the year ended December 31, 2022 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 2,106,260 1,679,755 (402,825) 3,383,190
<br />Total Capital Assets not
<br />Being Depreciated 9,783,695 1,679,755 (402,825) 11,060,625
<br />Capital Assets Being Depreciated
<br />Infrastructure 16,969,831 402,825 - 17,372,656
<br />Buildings and systems 9,187,905 - - 9,187,905
<br />Improvements other than buildings 3,899,636 - - 3,899,636
<br />Machinery and equipment 5,640,159 685,601 - 6,325,760
<br />Total Capital Assets
<br />Being Depreciated 35,697,531 1,088,426 - 36,785,957
<br />Less Accumulated Depreciation for
<br />Infrastructure (3,726,106) (398,834) - (4,124,940)
<br />Buildings and systems (1,616,951) (187,340) - (1,804,291)
<br />Improvements other than buildings (1,818,445) (99,928) - (1,918,373)
<br />Machinery and equipment (3,230,031) (419,784) - (3,649,815)
<br />Total Accumulated Depreciation (10,391,533) (1,105,886) - (11,497,419)
<br />Depreciated, Net 25,305,998 (17,460) - 25,288,538
<br />Governmental Activities
<br />Capital Assets, Net 35,089,693$ 1,662,295$ (402,825)$ 36,349,163$
<br />Total Capital Assets Being
<br />67 113
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