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REDEVELOPMENT AGENCY OF SAN LEANDRO <br />NOTES TO THE FINANCIAL STATEMENTS <br />FOR THE YEAR ENDED JUNE 30, 2007 <br />6. CAPITAL ASSETS <br />The following is a summary of the Agency's capital assets: <br />Governmental Activities: <br />Capital assets, not being depreciated: <br />Land <br />Total capital assets, not being depreciated <br />Capital assets, being depreciated: <br />Buliding <br />Infrastructure <br />Accumulated depreciation <br />Total capital assets being depreciated, net <br />Governmental activities capital assets, net <br />7. ADVANCES FROM CITY FUNDS <br />Balance Reclassification Balance <br />June 30, 2006 Additions Retirement June 30, 2007 <br />$ 2,616,746 $ - $ - $ 2,616,746 <br />$ 2,616,746 $ - $ - $ 2,616,746 <br />$ 4,751, l20 $ - $ - $ 4,751,120 <br />180,000 - - 180,000 <br />(177,903) (77,881) - (255,784) <br />4,753,217 (77,881) - 4,675,336 <br />$ 7,369,963 $ (77,881) $ - $ 7,292,082 <br />The City has made long term advances to the Agency from various City fiords 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, 2007, was $ 6,469,173. <br />2s <br />