Capital Asset Disclosures. Lynn County has prepared the following schedule related to its capital asset activity for the fiscal year 2011. Lynn County has governmental activities only, with no business-type activities.

Required
a. Does the above capital asset footnote disclosure comply with the GASB requirements? Explain.
b. Does the county use the modified approach to account for infrastructure assets? Explain.
c. What percentage of the useful life of the depreciable assetsremains?

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LYNN COUNTY Capital Asset Disclosures For the Year Ended December 31, 2011 Change December 31 January 1 Total capital assets not being depreciated (land, infrastructure, and construction work in progress) Total capital assets being depreciated (buildings, equipment, and collections) Less total accumulated $ 9,158,000 $61,721,000 $70,879,000 13,421,000 1,647,000 15,068,000 depreciation Capital assets, net (3,464,000) $71,678,000 (558,000) $10,247,000 (4,022,000) $81,925,000