athens tn acfr fy2025

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CITY OF ATHENS, TENNESSEE
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2025
A - 45
NOTE 4 – CAPITAL ASSETS (Continued)
Component Unit – Athens Utilities Board
(Continued) Beginning Adjustments/ Ending
Balance Additions Retirements Balance
Total depreciable capital
assets, net $111,012,439 $ 7,864,750 $ ( 184,012) $119,061,201
Total capital assets, net $120,707,067 $ 18,515,460 $ 14,912,146 $124,310,381
As described in Note 1, Athens Utilities Board uses group depreciation, and no gain or loss is 
recognized on the disposal of assets. Additional costs of removing assets are charged to 
accumulated depreciation, resulting in accumulated depreciation exceeding the value of related 
assets. 
Depreciation was charged as follows:
Charged to Total
Depreciation Charged to Depreciation
and Other and
Amortization Accounts Amortization
Power Division $ 2,918,190 $ 239,596 $ 3,157,786
Water Division 939,604 49,444 989,048
Gas Division 866,478 40,854 907,332
Fiber Division 46,375 - 46,375
Sewer Division 1,934,525 82,950 2,017,475
Total $ 6,705,172 $ 412,844 $ 7,118,016
NOTE 5 –LONG-TERM LIABILITIES
The City has approved $40,000,000 for the School Consolidation Building Program discussed in
Note 14. The $40,000,000 USDA Community Facilities Loan will be paid in monthly 
installments beginning in April 2024 over a 40-year term. The loan will bear interest at 2.125% -
2.250%. The outstanding balance at June 30, 2025 was $39,244,707.
During 2022, the City authorized the issuance of General Obligation Bonds, Series 2021 of
$7,350,000 to facilitate the renovations to city hall, public works building, fire training tower, 
animal shelter and traffic enhancements within the city.
(Continued)