Rock Valley College Comprehensive Annual Financial Report ...

ROCK VALLEY COLLEGE
ILLINOIS COMMUNITY COLLEGE DISTRICT NUMBER 511
NOTES TO FINANCIAL STATEMENTS (Continued)
Note 4 - Capital Assets
The following tables present the changes in the College’s various capital asset categories for fiscal year ended 2008
and 2007:
Fiscal Year 2008
Balance
Balance
June 30, 2007 Additions Deletions June 30, 2008
Land improvements $ 9,825,223 $ 517,417 $ - $ 10,342,640
Buildings 26,995,964 73,857 - 27,069,821
Building additions 53,392,026 9,620,659 - 63,012,685
Office equipment 4,801,063 - 648,776 4,152,287
Instructional equipment 6,435,794 247,063 517,604 6,165,253
Service equipment 12,413,739 780,177 72,695 13,121,221
Vehicles 1,156,559 127,189 96,405 1,187,343
Total cost 115,020,368 11,366,362 1,335,480 125,051,250
Less accumulated depreciation:
Land improvements 5,670,488 782,661 - 6,453,149
Buildings 14,673,297 677,829 - 15,351,126
Building additions 17,457,643 2,878,185 - 20,335,828
Office equipment 4,578,099 167,339 648,776 4,096,662
Instructional equipment 6,051,498 241,995 517,604 5,775,889
Service equipment 8,074,836 1,641,840 72,695 9,643,981
Vehicles 1,058,751 71,444 96,405 1,033,790
Total accumulated
depreciation 57,564,612 6,461,293 1,335,480 62,690,425
Net capital assets
before nondepreciable
capital assets 57,455,756 4,905,069 - 62,360,825
Land 200,000 - - 200,000
Construction in process 8,187,165 590,605 7,160,337 1,617,433
Fine Art/ Historic Treasures 102,000 - - 102,000
Total nondepreciable
capital assets 8,489,165 590,605 7,160,337 1,919,433
Total net capital assets $ 65,944,921 $ 5,495,674 $ 7,160,337 $ 64,280,258
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