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Stonegate Village Metropolitan District
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 2006
<br />Note 3 -Capital Assets
<br />Capital asset activity for the year ended December 31, 2006 was as follows:
<br /> Beginning Ending
<br /> Balance Increases Decreases Balance
<br />Governmental activities:
<br />Capital assets not being
<br />depreciated
<br />Street -landscaping $ 3,386,545 $ - $ - $ 3,386,545
<br />Landscaping 201,525 - 201,525
<br />Total capital assets not
<br />being depreciated 3,588,070 - - 3,588,070
<br />Capital assets being
<br />depreciated
<br />Recreation center 2,422,978 - - 2,422,978
<br />Other recreation
<br />equipment 256,122 - - 256,122
<br />Total capital assets
<br />being depreciated 2,679,100 - 2,679, ] 00
<br />Less accumulated
<br />depreciation 79,579 93,572 - 889,151
<br />Net capital assets
<br />governmental
<br />activities 5.471,592 93 2 - 5.378.019
<br />Business-type activities:
<br />Capital assets not being
<br />depreciated
<br />Water rights $ 2,963,385 $ - $ - $ 2,963,385
<br />Capital assets being
<br />Depreciated
<br />Water system 20,448,741 757,688 - 21,206,429
<br />Sewer system 17,524,138 209 - 17,524,347
<br />Total capital assets
<br />being depreciated 37,972,879 757,897 - 38,730,776
<br />Less accumulated
<br />depreciation 12,890,685 1,213,851 - 14,104,536
<br />Net capital assets
<br />business-type
<br />activities $ 28,045.579 455 $ - $ 27 589 625
<br />17
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