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<br />CITY OF CASSELBERRY, FLORIDA
<br />MANAGEMENT'S DISCUSSION AND ANALYSIS - Continued
<br />September 30, 2005
<br />
<br />Capital Asset and Debt Administration
<br />
<br />Capital Assets
<br />
<br />The City's investment in capital assets for its governmentai and business-type activities as of September
<br />30, 2005 amounts to $58.7 million (net of accumulated depreciation). This investment in capital assets
<br />includes land, buildings, improvements other than buiidings, machinery and equipment, vehicles,
<br />infrastructure, and construction in progress. The total net increase in the City's investment in capital
<br />assets for the current fiscal year was $6.1 million. Major capital asset events during the current fiscal year
<br />included the following:
<br />
<br />The bulk of the increase in capital assets reiated to governmental activities are land purchases of
<br />$2.8 million of land for re-sale and $2.7 million of land for development of road improvements, new
<br />Fire Station 25, and park improvements. $1.7 million for new Fire Station 21 was added to buildings
<br />this year.
<br />
<br />The Water and Wastewater System had improvements and equipment additions totaling $1.5
<br />million.
<br /> Capital Assets
<br /> Governmental Business-type
<br /> Activities Activities Total
<br />land $ 12,138,015 $ 1,738,685 $ 13,876,700
<br />Building and Improvements 12,069,184 42,644,679 54.713,863
<br />Machinery and Equipment 4,955,416 4,413,805 9,369,221
<br />Vehicles 3,978,396 3,978,396
<br />Infrastructure 10,658,132 10,658,132
<br />Construction in Progress 579,656 261,036 840.692
<br /> 44,378,799 49,058,205 93.437,004
<br />Accumulated Depreciation (14,819,282) (19,916,386) (34,735,668)
<br />Capital Assets, Net $ 29,559,517 $ 29,141,819 $ 58,701,336
<br />
<br />Additional information on the City's capital assets can be found in Note 6 of this report.
<br />
<br />Long-term debt
<br />
<br />At the end of fiscal year 2005, the City had total long-term liabilities of $30.8 million. Of this amount $24.4
<br />million is secured solely by specified revenue sources (i.e., revenue notes). In addition, the City had
<br />outstanding $4.9 million in notes and loans payable, $485 thousand in capital leases, and $987 thousand
<br />in compensated absences.
<br />
<br />City of Casselberry, Florida
<br />Outstanding Revenue Notes Payable, Capital Lease,
<br />And Compensated Absences
<br />
<br /> Governmental Business-type
<br /> Activities Activities Total
<br />Revenue and Other Notes $ 14,726,940 $ 14,557,101 $ 29,284,041
<br />Capital Lease 336.008 149,307 485.315
<br />Compensated absences 800,740 186,345 987,085
<br />Total long-term liabilities $ 15,863,688 $ 14.892,753 $ 30,756,441
<br /> 10
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