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MANAGEMENT'S�ISCUSSION AND QNALYSIS 6.1.F. - Page 41 CAPITAL ASSETS AND DEBT ADMINISTRATION Capital Assets - At the end of FY 2011/12, the City had $366.4 million, net of depreciation, invested in a broad range of capital assets used in governmental and business-type activities, as shown in the table below. Additional information on the City's capital assets can be found in Note 4 and Note 16 of this report. Capital Assets at Year-end (in Millions) Governmental Business-Type Activities Activities Total 2012 2011 2012 2011 2012 2011 Variance $ $ $ $ $ $ Land 30.978 34.105 3.448 3.448 34.426 37.553 -8.327% Streets 108.262 105.008 108.262 105.008 3.099% Construction in progress 12.327 8.981 9.212 22.618 21.539 31.599 -31.836% Buildings 83.181 83.181 60.296 58.169 143.477 141.350 1.505% Equipment 20.838 21.049 1.632 1.606 22.470 22.655 -0.817% Improvements 2.572 15.803 154.047 134.552 156.619 150.355 4.166% Harbor improvements 4.202 4.177 4.202 4.177 0.599% Parks,bridges,etc. 29.184 28.700 29.184 28.700 1.686% Traffic signals 2.607 2.815 2.607 2.815 -7.389% Storm drains 7.326 11.093 7.326 11.093 -33.958% Less accumulated depreciation (105.881) (100.111) (57.835) (52.976) (163.716) (153.087) 6.943% Total capital assets 191.394 210.624 175.002 171.594 366.396 382.218 -4.140% Governmental Activities The 37.2% increase in Construction in Progress is driven by the current project activity related to the infrastructure improvements funded by the One Marina Community Facilities District and various park projects. Land, equipment, improvements, traffic signals, and storm drains decreased due to the transfer of capital assets to the Successor Agency Private Purpose Trust Fund, which accounts for the ongoing activity of the former Redevelopment Agency. Streets increased primarily due to completion of street improvements related to East Bayshore Road and Veterans Boulevard. Parks increased primarily due to park improvements at Dove Beeger Park. Business-Type Activities The $13.4 million decrease in Construction in Progress resulted primarily from the recycled water project which translated into increases in Buildings and Improvements. The increase in improvements also included water and sewer system replacement and security related projects for the Port of Redwood City. Equipment increased due to the purchase of computers for the sewer utility. 13