Note X – Capital Assets
A. Capital Assets – Governmental Activities [1]
Capital assets activity for the year ended December 31, 20__ was as follows:
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Governmental Activities |
Beginning Balance 01/01/20__ |
Increases |
Decreases |
Ending Balance 12/31/20__ |
|
Capital assets, not being depreciated: |
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|
Land |
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|
Construction in progress |
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Intangible assets [2] |
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Total capital assets, not being depreciated |
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Capital assets, being depreciated: |
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Buildings |
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Intangible assets [2] |
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Improvements other than buildings |
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Machinery and equipment |
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Infrastructure |
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Total capital assets being depreciated |
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Less accumulated depreciation for: |
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Buildings |
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Intangible assets |
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|
Improvements other than buildings |
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|
Machinery and equipment |
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|
Infrastructure |
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|
Total accumulated depreciation |
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|
Total capital assets, being depreciated, net |
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|
Governmental activities capital assets, net |
B. Capital Assets – Business-Type Activities
|
Business-Type Activities: |
Beginning Balance 01/01/20__ |
Increases |
Decreases |
Ending Balance 12/31/20__ |
|
Capital assets, not being depreciated: |
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|
Land |
||||
|
Construction in progress |
||||
|
Intangible assets [2] |
||||
|
Total capital assets, not being depreciated |
||||
|
Capital assets, being depreciated: |
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|
Buildings |
||||
|
Intangible assets [2] |
||||
|
Improvements other than buildings |
||||
|
Machinery and equipment |
||||
|
Infrastructure |
||||
|
Total capital assets being depreciated |
||||
|
Less accumulated depreciation for: |
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|
Buildings |
||||
|
Intangible assets |
||||
|
Improvements other than buildings |
||||
|
Machinery and equipment |
||||
|
Infrastructure |
||||
|
Total accumulated depreciation |
||||
|
Total capital assets, being depreciated, net |
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|
Business-type activities capital assets, net |
Depreciation expense was charged to functions/programs [3] of the primary government as follows:
|
Governmental Activities: |
|
|
General Government |
$ |
|
Judicial |
|
|
Physical Environment |
|
|
Economic Environment |
|
|
Health and Human Services |
|
|
Transportation |
|
|
Total Depreciation – Governmental Activities |
$ |
|
Business-Type Activities: |
|
|
Utilities |
$ |
|
Total Depreciation – Business-Type Activities |
$ |
C. Collections not Capitalized [4]
D. Impaired Capital Assets [5]
E. Discretely Presented Component Unit(s) [6]
Instructions to preparer:
[1] Applicable only to entities with governmental activities.
[2] If the types of intangible assets differ in nature and usage, then they should not be reported collectively as a single class of capital assets.
[3] Required only for entities with governmental activities. Adjust the functions accordingly.
[4] Describe the collection(s) and reason(s) for not capitalizing collections.
If collections are capitalized, provide same information as for other capital assets (see part A of this note).
[5] If it is not otherwise apparent from the face of the financial statements, the city/county/district should disclose a general description, the amount, and the financial statement classification (e.g., public works, education) of the impairment loss.
If the city/county/district received an insurance recovery related to the impaired asset, its amount and financial statement classification should be disclosed.
The city/county/district needs to disclose the carrying amount of impaired capital assets that are idle at year-end, regardless whether the impairment is considered permanent or temporary.
For more details see the GASB Statement 42, Accounting and Financial Reporting for Impairment of Capital Assets and for Insurance Recoveries.
[6] The decision to disclose should be based on the individual component unit’s significance to the total of all discretely presented component units and that component unit’s relationship with the primary government. It is a matter of professional judgement.