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<br />CITY OF ORONO, MINNESOTA
<br />Notes to Financial Statements (continued)
<br />December 31, 1997
<br />NOTE 3 - PROPERTY, PLANT, AND EQUIPMENT
<br />A. Changes in General Fixed Assets
<br />Land and improvements
<br />Buildings and improvements
<br />Equipment
<br />B. Proprietary Fund Type Property, Plant, and Equipment
<br />Water
<br />Operating
<br />Sewer
<br />Operating
<br />Golf
<br />Course
<br />Operating Total
<br />Land and improvements $ 57,132 $ 16,654 $ 219,236 $ 293,022
<br />Buildings and improvements 792,888 31,014 62,257 886,159
<br />Equipment 77,843 77,352 119,656 274,851
<br />Distribution/collection system 2,083,535 8,844,035 -10,927,570
<br />Work in progress —17,317 -17.317
<br />3,011,398 8,986,372 401,149 12,398,919
<br />Less accumulated depreciation 1,030.148 2.991.814 83.138 4.105.100
<br />^ ‘ 981.250 $ 5,994,558 $ 318,011 $ 8,293,819
<br />NOTE 4 - DEFERRED CREDITS AND i:, ’ '> *«
<br />A. Contract for Deed
<br />The City sold a section of land to a homeowners’ association on a contract for deed in February 1984. The
<br />sa! ^s price of $100,000 will be received in equal quarterly payments over a IS-year period, without interest.
<br />At December 31, 1997, the remaining balance of $3,531 on the contract for deed is recorded as deferred
<br />revenue in the General Fund until collected and available to finance current operations.
<br />-37-
<br />Balance Balance
<br />Beginning End
<br />of Year Additions Deletions of Year
<br />$ 1,554,208 $ 190,835 $$ 1,745,043 -
<br />3,205,130 -1,899 3,203,231
<br />1.495.193 288.993 87.339 1,696,847
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<br />$ 6,254.531 $ 479,828 $ 89,238 S 6.645,121 i •
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