2019 City of Shakopee Comprehensive Annual Financial Report

CITY OF SHAKOPEE NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2019

NOTE 6 – CAPITAL ASSETS (CONTINUED)

Depreciation expense was charged to functions/programs of the City as follows:

Governmental Activities: General Government Public Safety Public Works Parks and Recreation Economic Development

758,891 355,229 $ 5,293,908 1,818,072

4,996

8,231,096

Total Depreciation Expense- Governmental Activities

Business-type capital asset activity for the year ended December 31, 2019 was as follows:

Beginning Balance

Ending Balance

Increases

Decreases

Capital Assets not being Business-Type Activities:

Depreciated: Land

3,796,803 $

$

- -

$

- -

3,796,803 $

Right-Of-Way

507,746 140,271

507,746 670,851

Construction in Progress Total Capital Assets not being Depreciated

595,775

65,195

4,444,820

595,775

65,195

4,975,400

Capital Assets being Depreciated: Line Rights Plant in Service

1,368,569 99,339,731 4,274,637

-

- -

1,368,569 105,163,149 4,403,851

5,823,418 520,886

Machinery and Equipment

391,672

Total Capital Assets being Depreciated

104,982,937

6,344,304

391,672

110,935,569

Less Accumulated Depreciation for: Line Rights

626,027

24,734

- -

650,761

Plant in Service

27,355,398 2,803,906

1,575,524 276,749

28,930,922 2,762,046

Machinery and Equipment

318,609

Total Accumulated Depreciation

30,785,331

1,877,007

318,609

32,343,729

Total Capital Assets being Depreciated, Net

74,197,606

4,467,297

73,063

78,591,840

Governmental Activities Capital Assets, Net

78,642,426 $

5,063,072 $

$

138,258

83,567,240 $

67