2020 Comprehensive Annual Financial Report

CITY OF SHAKOPEE NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2020

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

706,646 352,318 $ 5,431,285 1,828,463

49,877

8,368,589

Total Depreciation Expense- Governmental Activities

Business-type capital asset activity for the year ended December 31, 2020 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

507,746 670,851

507,746 4,830,525

Construction in Progress Total Capital Assets not being Depreciated

4,323,850

164,176

4,975,400

4,323,850

164,176

9,135,074

Capital Assets being Depreciated: Line Rights Plant in Service

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

-

- -

1,368,569 108,216,072 4,591,456

3,052,923 254,785

Machinery and Equipment

67,180

Total Capital Assets being Depreciated

110,935,569

3,307,708

67,180

114,176,097

Less Accumulated Depreciation for: Line Rights

650,761

24,801

- -

675,562

Plant in Service

28,930,922 2,762,046

1,657,991 316,207

30,588,913 3,071,522

Machinery and Equipment

6,731

Total Accumulated Depreciation

32,343,729

1,998,999

6,731

34,335,997

Total Capital Assets being Depreciated, Net

78,591,840

1,308,709

60,449

79,840,100

Governmental Activities Capital Assets, Net

83,567,240 $

5,632,559 $

$

224,625

88,975,174 $

68