COG Comprehensive Annual Financial Report
Capital Asset and Debt Administration A. Capital Assets
The City’s investment in capital assets including intangible assets for both its governmental and business-type activities as of June 30, 2018, amounts to $1,380,657,158 (net of accumulated depreciation/amortization). These assets include buildings, roads and bridges, land, machinery and equipment, park facilities, vehicles and intangible assets such as easements, software and licenses and water rights among other types of assets. This investment represents an increase of $59,864,549 or 4.5% over the prior year. Table C-1 Capital Assets (Net of Depreciation/Amortization-in thousands of dollars)
Governmental
Business-Type
Activities
Activities
Total
2018
2017
2018
2017
2018
2017
Land
$ 99,422 $ 93,667 $ 53,330 $ 50,797 $ 152,752 $ 144,464
Construction in Progress Intangible Assets-Easements
13,420
18,712 117,478
67,331 130,898
86,043 23,208 270,150 47,841
23,931
23,208 171,085
23,931 267,365
Buildings
101,221 23,815
99,065 166,144
21,000 25,370 26,841 49,185
Land Improvements
Improvements Other Than Buildings Furniture, Fixtures, Machinery and Equipment
85
87
4,280 4,524 4,365
4,611
57,250 179,020
58,775 37,432
40,009 94,682
98,784 568,331 77,361
Infrastructure Intangible Assets
168,538 401,942 399,793 580,962
40
73 76,477
77,288 76,517
Total Capital Assets
$ 474,273 $ 459,917 $ 906,384 $ 860,876 $1,380,657 $1,320,793
This year’s major capital asset additions included: Business Activities asset net additions totaled over $45 million, with nearly all of the increase due to new construction in progress for utility system improvements and the Steven Tanger Center for the Performing Arts. Developers also donated approximately $3.1 million of the additional water and sewer infrastructure line improvements. General government infrastructure additions were mainly sidewalk, street, and right-of-way ($17.2 million) some of which are bond funded. Construction in progress for governmental-type and business-type capital assets totaled $13,419,839 and $117,478,293 respectively as of June 30, 2018 compared to $18,712,261 and $67,331,199 last year. There are significant wastewater utility facility improvements in progress.
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