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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, 2008 was as follows:
<br /> Beginning Ending
<br /> balance Increases Decreases balance
<br />Governmental activities:
<br />Capital assets, not being depreciated
<br />Land $ 1,908,026 0 0 1,908,026
<br />Construction in progress 1,008,296 1,294,875 (445,703) 1,857,468
<br />Total capital assets, not being depreciated 2,916,322 1,294,875 (445,703) 3,765,494
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<br />Capital assets, being depreciated
<br />Improvements other than buildings 3,431,179 252,384. 0 3,683,563
<br />Infrastructure 2,051,139 237,327 0 2,288,466
<br />Total capital assets being depreciated 5,482,318 489,711 0 5,972,029
<br />
<br />Less accumulated depreciation for:
<br />Improvements other than buildings (1,754,215) (155,498) 0 (1,909,713)
<br />Infrastructure (1,082,830) (86,792) 0 (1,169,622)
<br />Total accumulated depreciation (2,837,045) (242,290) 0 (3,079,335)
<br />Total capital assets, being depreciated, net 2,645,273 247,421 0 2,892,694
<br />Governmental activities capital assets, net $ 5,561,595 1,542,296 (445,703) 6,658,188
<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 aself-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 aself-
<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.
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