2022 Annual Comprehensive Financial Report

CITY OF SHAKOPEE NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2022

NOTE 6 – CAPITAL ASSETS (CONTINUED)

Business-type capital asset activity for the year ended December 31, 2022 was as follows:

Beginning Balance

Balance Ending

Increases

Decreases

Business-Type Activities: Capital Assets not being

Depreciated: Land

$ 3,796,803

$

- -

$ 3,796,803

$

- -

Right-Of-Way

507,746 4,870,157

507,746 7,393,017

Total Capital Assets not being Depreciated Construction in Progress

6,633,476

4,110,616

9,174,706

6,633,476

4,110,616

11,697,566

Capital Assets being

Depreciated:

Line Rights

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

-

- -

1,368,569 124,826,934 4,132,278

Plant in Service

7,549,319 1,121,661

Machinery and Equipment

1,747,865

Total Capital Assets being Depreciated

123,404,666

8,670,980

1,747,865

130,327,781

Depreciation for: Line Rights Plant in Service Less Accumulated

700,295

24,733

- -

725,028

32,292,310 3,317,509

1,790,912 236,490

34,083,222 2,113,103

Machinery and Equipment

1,440,896

Total Accumulated Depreciation

36,310,114

2,052,135

1,440,896

36,921,353

Total Capital Assets being

Depreciated, Net

87,094,552

6,618,845

306,969

93,406,428

Business-Type Activities Capital Assets, Net

$ 96,269,258

$ 13,252,321

$ 4,417,585

$105,103,994

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

Business-Type Activities: Sanitary Sewer

$ 933,171 1,001,853 117,111

Storm Drainage

Refuse

2,052,135

Total Depreciation Expense- Business-Type Activities

67