2024 Annual Comprehensive Report

in engineering and building maintenance, $3.1 million in field operations relating to stormwater maintenance and materials recovery, and approximately $2.0 million savings in culture and recreation and $5.9 million of unspent appropriations for ARPA-enabled projects. • FY 2024 included a 4% average merit increase for all eligible employees and a 4% step movement for all general employees on the step program, along with funding to advance sworn policy and fire personnel to the appropriate next steps in the Public Safety Step Compensation Program. In addition, City Council approved various other salary adjustments for public safety and general employees during the year.

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, 2024, amounts to $1,991,598,701 (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 $114,384,910 or 6.1% over the prior year.

Table C-1 Capital Assets (Net of Depreciation/Amortization - in thousands of dollars)

Governmental

Business-Type

Activities

Activities

Total

2024

2023

2024

2023

2024

2023

Land

$

122,834 $

119,981 25,761 26,753 118,663

$

63,224 359,689 28,089 21,877 333,930 22,357 53,449 415,582 70,714

$

62,454 258,463 27,491 23,828 315,818 23,138 60,673 425,911 71,726

$

186,058 $

182,435 284,224 27,491 50,581 434,481 23,211 110,833 659,973 72,072 20,590 11,323

Construction in Progress Intangible Assets - Easements

47,042

406,731 28,089 46,380 448,459 22,428 106,998 646,004 70,952 20,495

Land Improvements

24,503 114,529

Buildings

Improvements other than Buildings Furniture, Fixtures, Machinery and Equipment

71

73

53,549 230,422

50,160 234,062

Infrastructure

Intangible Assets - Other Right to Use Lease Assets

238

346

19,896 8,379

20,284 10,203

599 625

306

Right to Use IT Subscription Assets

1,120

9,004

Total Capital Assets

$

621,463 $

606,286 $

1,370,135 $

1,270,928 $

1,991,598 $

1,877,214

This year’s major capital asset additions included: • Business Activities asset net additions totaled over $134.3 million, with most of the increase due to new construction in progress and infrastructure in Water Resources. Developers also donated approximately $2.3 million of the additional water and sewer infrastructure line improvements. • General government net additions were mainly $16.7 million for increases in furniture, fixtures, machinery, and equipment and, and general construction in progress for bond-funded projects.

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