COG Comprehensive Annual Financial Report

Capital Asset and Debt Administration A. Capital Assets

The City’s investment in capital assets including intangible assets for both its governmental and business-type activities as of June 30, 2018, amounts to $1,380,657,158 (net of accumulated depreciation/amortization). These assets include buildings, roads and bridges, land, machinery and equipment, park facilities, vehicles and intangible assets such as easements, software and licenses and water rights among other types of assets. This investment represents an increase of $59,864,549 or 4.5% over the prior year. Table C-1 Capital Assets (Net of Depreciation/Amortization-in thousands of dollars)

Governmental

Business-Type

Activities

Activities

Total

2018

2017

2018

2017

2018

2017

Land

$ 99,422 $ 93,667 $ 53,330 $ 50,797 $ 152,752 $ 144,464

Construction in Progress Intangible Assets-Easements

13,420

18,712 117,478

67,331 130,898

86,043 23,208 270,150 47,841

23,931

23,208 171,085

23,931 267,365

Buildings

101,221 23,815

99,065 166,144

21,000 25,370 26,841 49,185

Land Improvements

Improvements Other Than Buildings Furniture, Fixtures, Machinery and Equipment

85

87

4,280 4,524 4,365

4,611

57,250 179,020

58,775 37,432

40,009 94,682

98,784 568,331 77,361

Infrastructure Intangible Assets

168,538 401,942 399,793 580,962

40

73 76,477

77,288 76,517

Total Capital Assets

$ 474,273 $ 459,917 $ 906,384 $ 860,876 $1,380,657 $1,320,793

This year’s major capital asset additions included:  Business Activities asset net additions totaled over $45 million, with nearly all of the increase due to new construction in progress for utility system improvements and the Steven Tanger Center for the Performing Arts. Developers also donated approximately $3.1 million of the additional water and sewer infrastructure line improvements.  General government infrastructure additions were mainly sidewalk, street, and right-of-way ($17.2 million) some of which are bond funded. Construction in progress for governmental-type and business-type capital assets totaled $13,419,839 and $117,478,293 respectively as of June 30, 2018 compared to $18,712,261 and $67,331,199 last year. There are significant wastewater utility facility improvements in progress.

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