Page 52 - SIGA Annual Report 2014

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NOTES TO
THE FINANCIAL
STATEMENTS
YEAR ENDED
MARCH 31, 2014
52
8. PROPERTY AND EQUIPMENT
Leasehold
Casino
Furniture &
Construction
Improvements
Development
Equipment
in Progress
TOTAL
Cost
Balance at March 31, 2013
$ 41,651,737
$ 102,938,222
$ 39,293,135
$ 1,895,877
$ 185,778,971
Additions
1,679,984
1,454
3,527,894
100,516
5,309,848
Disposals
(105,387)
(105,387)
Transfers
(1,191,315)
(1,191,315)
Balance at March 31, 2014
$ 43,331,721
$ 102,939,676
$ 42,715,642
$
805,078
$ 189,792,117
Accumulated depreciation
and impairment
Balance at March 31, 2013
$ 24,651,954
$ 27,055,756
$ 32,343,043
$
$ 84,050,753
Depreciation expense
3,367,370
3,768,753
3,463,388
10,599,511
Disposals
(76,669)
(76,669)
Balance at March 31, 2014
$ 28,019,324
$ 30,824,509
$ 35,729,762
$
$ 94,573,595
Net Book Value
Balance at March 31, 2013
$ 16,999,783
$ 75,882,466
$ 6,950,092
$ 1,895,877
$ 101,728,218
Balance at March 31, 2014
$ 15,312,397
$ 72,115,167
$ 6,985,880
$
805,078
$ 95,218,522
Construction in progress represents costs incurred for capital projects under construction at existing casinos and central office.
Upon completion, these costs are transferred into the appropriate property and equipment category.
Included in casino development above are the following assets under finance lease:
Net carrying amount of leased assets
March 31, 2014
March 31, 2013
– Painted Hand Casino
$ 8,712,329
$ 9,369,863
– Living Sky Casino
11,427,633
12,288,620
– Dakota Dunes Casino
13,777,817
14,824,078
$ 33,917,779
$ 36,482,561