2011 Audit Report - the Burr Ridge Park District

Burr Ridge Park DistrictNotes To The Financial Statements (Continued)For the Year Ended April 30, 2011NOTE 3 - CAPITAL ASSETSA summary of the changes in capital assets for the year ended April 30, 2011 follows for thegovernmental activities. Total depreciation expense for the year charged for governmental activitieswas $175,920.The construction in progress asset balance of $285,621 was reclassified to buildings for the year endedApril 30, 2011 as the project was completed.Balance,May 1, 2010 Additions DispositionsGovernmental ActvitiesCapital Assets, Not Subject to DepreciationLand $ 6,973,986 $ 00Balance,April 30, 2011$ $ 6,973,986Construction in Progress 285,621 (285,621) 0 0Total Assets Not Subject to Depreciation 7,259,607 (285,621) 0 6,973,986Capital Assets Subject to DepreciationLand Improvements 1,086,162 429,179 (92,060) 1,423,281Construction 3,215,480 338,565 0 3,554,045Machinery & Equipment 518,107 186,466 (17,200) 687,373Licensed Vehicles 55,910 0 0 55,910Total Assets Subject to Depreciation 4,875,659 954,210 (109,260) 5,720,609Less Accumulated Depreciation for:Land Improvements (605,504) (65,189) 73,103 (597,590)Construction (401,397) (69,826) 0 (471,223)Machinery & Equipment (180,911) (33,916) 16,054 (198,773)Licensed Vehicles (27,043) (6,989) 0 (34,032)Total Accumulated Depreciation (1,214,855) (175,920) 89,157 (1,301,618)Net Capital Assets Subject to Depreciation 3,660,804 778,290 (20,103) 4,418,991Net Capital Assets - Governmental Activities $ 10,920,411 $ 492,669 $ (20,103) $ 11,392,977- 24 -