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URBAN RENEWAL AGENCY OF THE CITY OF EUGENE, OREGON
<br />Notes to Basic Financial Statements
<br />(4)Detailed Notes on All Funds, continued
<br />(C)Capital Assets
<br />Capital assets activity for the year ended June 30, 2009 was as follows:
<br />BeginningEnding
<br />IncreasesDecreasesbalance
<br />balance
<br />Governmental activities:
<br />Capital assets, not being depreciated
<br /> Land$1,908,026307,43302,215,459
<br /> Construction in progress1,857,46853,189(1,857,468)53,189
<br /> Total capital assets, not being depreciated3,765,494360,622(1,857,468)2,268,648
<br />Capital assets, being depreciated
<br /> Buildings03,618,060(3,618,060)0
<br /> Improvements other than buildings3,683,563003,683,563
<br /> Infrastructure2,288,466357,25202,645,718
<br /> Total capital assets being depreciated5,972,0293,975,312(3,618,060)6,329,281
<br /> Less accumulated depreciation for:
<br /> Improvements other than buildings(1,909,713)(161,806)0(2,071,519)
<br /> Infrastructure(1,169,622)(98,684)0(1,268,306)
<br /> Total accumulated depreciation(3,079,335)(260,490)0(3,339,825)
<br /> Total capital assets, being depreciated, net2,892,6943,714,822(3,618,060)2,989,456
<br /> Governmental activities capital assets, net$6,658,1884,075,444(5,475,528)5,258,104
<br />(5)Other Information
<br /> (A) Risk Management
<br />The Agency is a participant in the City’s Risk and Benefits Internal Service Fund which accounts for and
<br />finances its risks of loss. The Risk and Benefits Fund has a self-insured liability program which covers
<br />personal injury, public official errors and omissions, automobile, and employer’s liability, with a maximum
<br />self-insured retention of $500,000 per occurrence. In addition, the Risk and Benefits Fund has a self-
<br />insured workers’ compensation program which covers employees’ work related illnesses and injuries,
<br />including employer’s liability, with a maximum self-insured retention of $500,000 per occurrence.
<br />The Agency, as a participant in the Risk and Benefits Fund, retains a portion of the risk of loss for general
<br />liability. Coverage for workers’ compensation, general liability, and employees’ medical claims in excess
<br />of the self-insurance retention limit is purchased from commercial insurers. The Risk and Benefits Fund
<br />also purchases all risk property insurance coverage from a commercial insurer. The property insurance
<br />policy has a basic $25,000 deductible, however, earthquake and flood insurance coverage were subject
<br />to $250,000 deductible per occurrence. During the previous three fiscal years, there were no general
<br />liability claims that exceeded the insurance coverage levels.
<br />continued
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