Note X – Capital Assets

Note X – Capital Assets

A. Capital Assets – Governmental Activities [1]

Capital assets activity for the year ended December 31, 20__ was as follows:

Governmental Activities

Beginning

Balance

01/01/20__

Increases

Decreases

Ending

Balance

12/31/20__

Capital assets, not being depreciated:

       

Land

       

Construction in progress

       

Intangible assets [2]

       

Total capital assets, not being depreciated

       
         

Capital assets, being depreciated:

       

Buildings

       

Intangible assets [2]

       

Improvements other than buildings

       

Machinery and equipment

       

Infrastructure

       

Total capital assets being depreciated

       
         

Less accumulated depreciation for:

       

Buildings

       

Intangible assets

       

Improvements other than buildings

       

Machinery and equipment

       

Infrastructure

       

Total accumulated depreciation

       

Total capital assets, being depreciated, net

       
         

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:

       

Land

       

Construction in progress

       

Intangible assets [2]

       

Total capital assets, not being depreciated

       
         

Capital assets, being depreciated:

       

Buildings

       

Intangible assets [2]

       

Improvements other than buildings

       

Machinery and equipment

       

Infrastructure

       

Total capital assets being depreciated

       
         

Less accumulated depreciation for:

       

Buildings

       

Intangible assets

       

Improvements other than buildings

       

Machinery and equipment

       

Infrastructure

       

Total accumulated depreciation

       

Total capital assets, being depreciated, net

       
         

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.