Leases as Lessor On October 1, 2021, the County implemented a 159-month lease as lessor for the use of Knights Trail Park training facilities. An initial lease receivable was recorded in the amount of $436,893. As of yearend, the value of the lease receivable is $383,255. The lessee is required to make monthly fixed payments of $2,598 the lease has an interest rate of 1.2940%. The lessee has 2 extension option(s), each for 60 months. On October 1, 2021, the County implemented a 99-month lease as lessor for the use of a land parcel. An initial lease receivable was recorded in the amount of $358,671. As of year-end, the value of the lease receivable is $282,874. The lessee is required to make monthly fixed payments of $3,079 the lease has an interest rate of 0.2980%. The lessee has 1 extension option, for 60 months. On July 12, 2022, the County implemented a 60-month lease as lessor the use of land parcel. An initial lease receivable was recorded in the amount of $759,844. As of year-end, the value of the lease receivable is $723,069. The lessee is required to make monthly fixed payments of $2,624 the lease has an interest rate of 0.2980%. The lessee has 3 extension option, for 60 months. Amount of Lease Assets by Major Classes of Underlying Asset As of Fiscal Year-end Asset Class Lease Asset Value Accumulated Amortization Leased-Land 37,413 $ 17,352 $ Leased-Buildings 11,221,847 4,000,418 Leased-Equipment 2,416,919 802,500 Total right-to-use lease assets 13,676,179 $ 4,820,270 $ Principal and Interest Requirements to Maturity Fiscal Year Principal Payments Interest Payments Total Payments 2024 3,533,978 54,092 3,588,070 2025 3,343,697 32,920 3,376,617 2026 2,338,392 15,335 2,353,727 2027 312,761 2,818 315,580 2028 22,171 80 22,251 2029-2030 29,823 38 29,861 Fiscal Year Principal Payments Interest Payments Total Payments 2024 70,185 183 70,368 2025 23,442 15 23,457 Governmental Activities Business-Type Activities 113
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