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<br />REDEVELOPlVIENT AGENCY OF SAN LEANDRO <br /> <br />NOTES TO THE FINANCIAL STATEMENTS <br />FOR THE YEAR ENDED JUNE 30, 2006 <br />6_ CAPITAL ASSETS <br /> The following is a summary of the Agency's capital assets: <br /> Balance Reclassification Balance <br /> June 30, 2005 Additions Retirement June 30, 2006 <br /> Governmental Activities: <br /> Capital asset" not being depreciated: <br /> Llll1d $ 1,438,996 $ 1,697,749 $ (520,000) .$ 2,616,745 <br /> Total capital assets, not being depreciated $ 1,438,996 $ 1,697,749 $ (520,000) .$ 2,616,745 <br /> Capital assets, being depreciated: <br /> Buliding $ 449,647 $ 3,923,044 $ $ 4,372,691 <br /> In fras tructurc 558,429 558,429 <br /> Accumulated depreciation (177,903) (177,903) <br /> Total capital assets beinll depreciated, net 449,647 4,303,570 4,753,217 <br /> Governmental actlvltles capital assets, net .$ 1,888,643 $ 6,001,319 $ (520,000) $ 7,369,962 <br /> <br />7_ ADVANCES FROM CITY FUNDS <br /> <br />The City has made long term advances to the Agency from various City funds to cover operational <br />expenditures incurred by the Agency. The terms of the loans are indefinite. Interest accrues annually at the <br />rate of 6%. The balance as of June 30, 2006, was $7,419,174. <br /> <br />25 <br />