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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 (CONTINUED) <br />Depreciation/amortization expense was charged to functions/programs of the City as <br />follows at September 30, 2023: <br />Governmental Activities: <br />General government $ 461,342 <br />Public safety 817,379 <br />Physical environment 3,330,995 <br />Culture and human services 2,105,828 <br />Transportation 202,322 <br />Total Depreciation/Amortization Expense - Governmental <br />Activities $ 6,917,866 <br />Business -type activities: <br />Stormwater $ 461,964 <br />Total Depreciation Expense - Business -Type Activities $ 461,964 <br />NOTE 5 — INTERFUND TRANSFERS <br />Interfund transfers at September 30, 2023 consisted of the following: <br />Transfer Out Transfer In Amount <br />General Fund Street Maintenance and Construction Fund $ 500,000 <br />Street Maintenance and Construction Fund General Capital Projects Fund 108,477 <br />Total Transfers $ 608,477 <br />The transfer out from the General Fund to the Streets Maintenance and Construction Fund <br />is to cover fund expenditures and increased costs for streets and transportation initiatives <br />throughout the City. The transfer out from the Streets Maintenance and Construction fund <br />to the Capital Projects fund is to transfer Citizen's Independent Transportation Trust monies <br />which will be used on capital projects related to transportation and pedestrian access <br />improvements. <br />44 <br />