2021 Annual Comprehensive Financial Report

CITY OF SHAKOPEE NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2021

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

713,937 362,714 $ 5,448,307 1,826,763

49,741

8,401,462

Total Depreciation Expense- Governmental Activities

Business-type capital asset activity for the year ended December 31, 2021 was as follows:

Beginning Balance

Ending Balance

Increases

Decreases

Business-Type Activities:

Capital Assets not being

Depreciated: Land

3,796,803 $

$

- -

$

- -

3,796,803 $

Right-Of-Way

507,746 4,830,525

507,746 4,870,157

Construction in Progress Total Capital Assets not being Depreciated

645,671

606,039

9,135,074

645,671

606,039

9,174,706

Capital Assets being Depreciated: Line Rights Plant in Service

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

-

- -

1,368,569 117,277,615 4,758,482

9,061,543 264,341

Machinery and Equipment

97,315

Total Capital Assets being Depreciated

114,176,097

9,325,884

97,315

123,404,666

Less Accumulated Depreciation for: Line Rights

675,562

24,733

- -

700,295

Plant in Service

30,588,913 3,071,522

1,703,397 282,833

32,292,310 3,317,509

Machinery and Equipment

36,846

Total Accumulated Depreciation

34,335,997

2,010,963

36,846

36,310,114

Total Capital Assets being Depreciated, Net

79,840,100

7,314,921

60,469

87,094,552

Business-Type Activities Capital Assets, Net

88,975,174 $

7,960,592 $

$

666,508

96,269,258 $

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