2018 City of Shakopee Comprehensive Annual Financial Report

CITY OF SHAKOPEE NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2018

NOTE 6 – CAPITAL ASSETS Governmental capital asset activity for the year ended December 31, 2018 was as follows: Beginning Ending Balance Increases Decreases Balance Governmental Activities: Capital Assets not being Depreciated: Land 21,847,814 $ 50,246 $ - $ 21,898,060 $ Right-Of-Way 253,904 - - 253,904 Construction in Progress 2,956,383 734,408 1,675,700 2,015,091 Total Capital Assets not being Depreciated 25,058,101 784,654 1,675,700 24,167,055

Capital Assets being Depreciated: Buildings

73,085,553 156,848,354 22,719,315

201,760

98,275 15,000 257,044

73,189,038 163,936,298 24,694,014

Infrastructure

7,102,944 2,231,743

Machinery and Equipment

Total Capital Assets being Depreciated

252,653,222

9,536,447

370,319

261,819,350

Less Accumulated Depreciation for: Buildings

12,691,575 84,853,596 8,477,761

1,608,002 4,963,929 1,434,619

52,740

14,246,837 89,809,274 9,836,153

Infrastructure

8,251

Machinery and Equipment

76,227

Total Accumulated Depreciation

106,022,932

8,006,550

137,218

113,892,264

Total Capital Assets being Depreciated, Net

146,630,290

1,529,897

233,101

147,927,086

Governmental Activities Capital Assets, Net

171,688,391 $

2,314,551 $

1,908,801 $

172,094,141 $

Depreciation expense was charged to functions/programs of the City as follows: Governmental Activities: General Government

346,146 $

Public Safety Public Works

697,485

5,143,874 1,814,048

Parks and Recreation Economic Development

4,997

Total Depreciation Expense - Governmental Activities

8,006,550 $

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