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Table 6—Summary of Capital Assets (Net of Accumulated Depreciation/Amortization) Governmental Activities December 31, 2024 2023 Land $ 203,600 $ 203,600 Construction in progress 632,855 1,990,292 Buildings 2,633,132 2,173,351 Improvements 958,818 900,717 Machinery & equipment 1,249,692 1,186,972 Right-to-use leased equipment 8,290 12,637 Infastructure 1,905,163 534,127 Art and historical treasures 5,353 1,058 Total $ 7,596,903 $ 7,002,754 Additional information on the Town’s capital assets can be found in Note 4 to the financial statements. Long-term debt—At December 31, 2024, the Town had net bonded debt outstanding of $4,059,400, as compared to $4,231,151 at December 31, 2023. During the year, the Town made scheduled principal payments of $171,751. The Town’s governmental activities also have recorded liabilities for an installment purchase debt, lease liability, compensated absences, net pension liability—ERS and total pension liability—LOSAP. A summary of the Town’s long-term liabilities at December 31, 2024 and December 31, 2023 is presented in Table 7 below: Table 7—Summary of Long-Term Liabilities Governmental Activities December 31, 2024 2023 Serial bonds $ 4,059,400 $ 4,231,151 Installment purchase debt - 13,926 Lease liability 8,738 13,106 Compensated absences 179,285 188,822 Net pension liability-ERS 496,713 751,475 Total pension liability-LOSAP 6,785,481 6,277,611 Total $ 11,529,617 $ 11,476,091 Additional information on the Town’s long-term liabilities can be found in Note 12 to the financial statements. -8-