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 (Continued)
Fiscal Year 2007
Balance
Balance
June 30, 2006 Additions Deletions June 30, 2007
Land improvements $ 9,599,845 $ 225,378 $ - $ 9,825,223
Buildings 27,349,890 - 353,926 26,995,964
Building additions 52,630,006 1,337,455 575,435 53,392,026
Office equipment 5,100,149 - 299,086 4,801,063
Instructional equipment 6,472,661 145,512 182,379 6,435,794
Service equipment 11,357,630 1,098,122 42,013 12,413,739
Vehicles 1,200,739 42,506 86,686 1,156,559
Total cost 113,710,920 2,848,973 1,539,525 115,020,368
Less accumulated depreciation:
Land improvements 4,926,277 744,211 - 5,670,488
Buildings 14,336,202 684,000 346,905 14,673,297
Building additions 15,208,190 2,632,763 383,310 17,457,643
Office equipment 4,703,006 174,179 299,086 4,578,099
Instructional equipment 5,924,965 284,008 157,475 6,051,498
Service equipment 6,312,006 1,781,179 18,349 8,074,836
Vehicles 1,059,609 85,828 86,686 1,058,751
Total accumulated
depreciation 52,470,255 6,386,168 1,291,811 57,564,612
Net capital assets
before nondepreciable
capital assets 61,240,665 (3,537,195) 247,714 57,455,756
Land 200,000 - - 200,000
Construction in process 2,048,175 8,153,662 2,014,672 8,187,165
Fine Art/ Historic Treasures 28,000 74,000 - 102,000
Total nondepreciable
capital assets 2,276,175 8,227,662 2,014,672 8,489,165
Total net capital assets $ 63,516,840 $ 4,690,467 $ 2,262,386 $ 65,944,921
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