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CITY OF SUNNY ISLES BEACH, FLORIDA
<br />NOTES TO FINANCIAL STATEMENTS
<br />FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2023
<br />NOTE 4 - CAPITAL ASSETS
<br />Capital asset activity for the fiscal year ended September 30, 2023 was as follows:
<br />Beginning Ending
<br />Balance * Additions Deletions Balance
<br />Governmental activities:
<br />Capital assets not being depreciated:
<br />Land $ 96,985,232 $ $ $ 96,985,232
<br />Easements 488,130 488,130
<br />Construction in progress 37,147,685 6,259,455 (1,777,245) 41,629,895
<br />Total Capital Assets Not Being Depreciated 134,621,047 6,259,455 (1,777,245) 139,103,257
<br />Capital assets being depreciated/amortized
<br />Buildings
<br />45,811,363
<br />(1,388,878)
<br />45,811,363
<br />Improvements
<br />8,534,165
<br />578,911 (15,000)
<br />9,098,076
<br />Machinery and equipment
<br />14,142,707
<br />2,449,157 (603,847)
<br />15,988,017
<br />Infrastructure
<br />101,287,227
<br />1,531,892
<br />102,819,119
<br />Leases (right -to -use asset)
<br />72,467
<br />22,648
<br />95,115
<br />Subscriptions (right -to -use asset)
<br />1,157,347
<br />296,110
<br />1,453,457
<br />Total Capital Assets Being Depreciated/Amortized
<br />171,005,276
<br />4,878,718 (618,847)
<br />175,265,147
<br />Less accumulated depreciation/amortization
<br />Buildings
<br />(8,626,691)
<br />(1,388,878)
<br />(10,015,569)
<br />Improvements
<br />(5,637,451)
<br />(486,086)
<br />14,063
<br />(6,109,474)
<br />Machinery and equipment
<br />(11,512,950)
<br />(1,301,260)
<br />566,542
<br />(12,247,668)
<br />Infrastructure
<br />(271185,992)
<br />(3,398,974)
<br />(30,584,966)
<br />Leases (Right -of -use asset)
<br />(13,064)
<br />(22,603)
<br />(35,667)
<br />Subscriptions (Right -of -use asset)
<br />(320,064)
<br />(320,064)
<br />Total Accumulated Depreciation/Amortization
<br />(52,976,148)
<br />(6,917,865)
<br />580,605
<br />(59,313,408)
<br />Total Capital Assets Being Depreciated/Amortized, Net
<br />118,029,128
<br />(2,039,147)
<br />(38,242)
<br />115,951,739
<br />Governmental Activities Capital Assets, Net
<br />$ 252,650,175
<br />$ 4,220,308
<br />$ (1,815,487)
<br />$ 255,054,996
<br />Business -type activities:
<br />Capital assets not being depreciated:
<br />Construction in progress
<br />Total Capital Assets Not Being Depreciated
<br />Capital assets being depreciated:
<br />Infrastructure
<br />Machinery and equipment
<br />Total Capital Assets Being Depreciated
<br />Less Accumulated Depreciation for:
<br />Infrastructure
<br />Machinery and equipment
<br />Total Accumulated Depreciation
<br />Total Capital Assets Being Depreciated, Net
<br />Business -Type Activities Capital Assets, Net
<br />$ 622,128 $ 159,866 $ $ 781,994
<br />622,128 159,866 781,994
<br />19,056,409 19,056,409
<br />502,075 38,457 540,532
<br />19,558,484 38,457 19,596,941
<br />(4,975,139) (419,678) (5,394,817)
<br />(412,173) (42,286) (454,459)
<br />(5,387,312) (461,964) (5,849,276)
<br />14,171,172 (423,507) 13,747,665
<br />$ 14,793,300 $ (263,641) $ $ 14,529,659
<br />*Beginning balances as of October 1, 2022 were as a result of implementation of GASB 96.
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