Fiduciary funds: Statement of net position

City of Coral Springs, Florida

Management’s Discussion and Analysis (Unaudited)

Capital Assets and Debt Administration Capital Assets

The City’s investment in capital assets for its governmental and business-type activities as of September 30, 2021, amounts to approximately $264,858,000 (net of accumulated depreciation). This is a net increase (additions less retirements and depreciation) of approximately $2,382,000 or 1.0% from last fiscal year. The following summarizes the City’s capital assets as of September 30, 2021:

Capital Assets (net of depreciation)

Governmental Activities Business-Type Activities

Total

2021 2020 2021 2020 2021 2020 Land $ 33,224,457 $ 33,224,457 $ 198,586 $ 198,576 $ 33,423,043 $ 33,423,033 Construction in progress 15,853,265 2,810,768 4,780,788 2,406,890 20,634,053 5,217,658 Public art 2,890,651 2,870,651 - - 2,890,651 2,870,651 Land improvements 14,452,293 16,053,068 8,495 12,752 14,460,788 16,065,820 Buildings 90,962,728 94,964,360 4,471,486 4,990,743 95,434,214 99,955,103 Infrastructure 26,435,973 28,394,990 50,159,521 51,253,776 76,595,494 79,648,766 Equipment 20,843,510 24,626,219 575,818 668,573 21,419,328 25,294,792

Total $ 204,662,877

$ 202,944,513

$ 60,194,694

$ 59,531,310

$ 264,857,571

$ 262,475,823

Major capital asset expenditures during the current fiscal year include the following:

• Westside campus design and construction – $11,444,000 • Rehabilitation of sanitary sewer lift stations – $2,489,000 • Purchase of 25 City vehicles – $1,488,000 • Stormwater improvements – $1,075,000 • ERP software and implementation – $890,000 • Rehabilitation of sanitary sewer lines – $821,000 • Roadway resurfacing – $661,000 • Replacement of galvanized water service – $481,000

Additional information can be found in Note 6 Capital Assets and Construction Commitments.