HomeMy WebLinkAboutCAFR-200311 ~ ~ 1
i' lJ 1
1 111' ~1~ ! ~
~~1~1~1,~OI`C~~~~
~irect~r ~f ~ic~i ~n~ upp~r~ ervi~~s
I~r~~~r o~ ~rnm~n~ 'inan~~ fii~~rs
~~i~~i~n ~f #h ~Jni~e~ end
This page i~#~~#ianall~ lift blank -
f
ITC F 81~1~'i i~TE1, 1I1~11~'F
TABLE OF I7'~1T
F~~e
l~ferer~c~ 1~I~,
!~1'1~1~UT Tl~i
Lutt~r ~f Tr~n~€nittal
~rti#I~at~ ~f ~hi~v~rn~r~t
1~rir~~i~aC officials i~
~rani~atior~ l~ar~ i 3
i~~ FiIi~►L ~TII
Inde~~ndent 1~uditor"s lep~rt 17
anacmcnt's i~is~uss~or~ and na]}~sis ~
~~stc Financial taten~ents;
ovcrn~ncr~t-~~~ Finar~~i~l ~t~rn~nts:
tatc~ncnt ~f ~t tatcrn~nt ~ t~n~cnt ~f ~tiviti~s ~~~~m~nt 3
Fund Financial tatmcnt:
I~alanc~ >~ect - ~~~ernrner~ta! Funds i~t~m~nt ~ ~
statement ~f Ic~cnues, Lxpcnditure} ar~d hares in ~i~nd Bal~t~cs -
~~rernmer~tal ands tatcmcnt 4
er~eiliati~n of the Statement afle~renuesf f~pendi~ur~s, and ha~~~s i~ fund balances of o~ernmenta] Funds Statement ~ 4~
Statement ~flet Assets - l~r~~ri~tar l~ur~ds Stat~mc~tt ~4
Statement of ever~ues, Fpenes~ and hares in 1{und filet 1lseis -
l~roprietar Funds statement 7
Statement ~f dash Fl~~ - I~r~prie~ar Fur~~s Statcmer~t ~ ~
i~latcs t~ Fir~ancia] Statements 1
l~cquir~d uppl~m~nt~ry In#'armntiua;
B~dgctary ~mparis~r~ chcdul~ - ~r~cra! Fund tatcmer~t 9 ~4
I~ud~etar cm~aris~n Schedule - far] l~r~n Ta.~ Incrcmcnt District tat~mer~t ~
Eud~etar ~rn~ariscn Schedule - ~l'a.~ lricrement district a. 3 tatcm~nt 11 i
Bu~~tar ~mparisor~ cedulc - Mote to 151
i {~~x
T~~, F ~TEI~'I"
Fa~~
l~f~r~n~~ I~u.
ombinin~ and Individual Fund t~t~m~nt~ and ~h~dul~s:
~mbining Balan~~ 1~~~t - 1~nmaj~r o~rerrymentaf I*unds tat~rn~nt 1~
~m~inin~ t~t~mc~tt ~f I~r~nua ~p~ndi~ur~ and har~~ ire Fund a1an~~ -
~nmajor~v~rnmcnta! Funds tatcmcnt 1 1~~
u~~~ml~inin Bala~t~~ l~~~t - C~nma~nr ~~~ial e~~n~~ Funds ta~cmcnt 14 I1~ ub~om~ir~ir~ Ial~mcn~ ~f Rcv~nuua iJ~~~tditur~s and hat~~e in
Fund Balances R onm~jor p~~ial Iuv~r~u~ I' ands t~m~nt 1 1 ~4
ub~m~inin~ 1~lancu huct - I~1~n~aj~r I~~C~t ~rvi~~ I~unds #~t~m~nt 1 1~~
U6mbining ~a~~~n~nt ~f 1~~~nu~s, l;pendit~res and f~an~e ire
liund Balances - onmaj~r l~bt service l~ur~ds tat~~nc~tt 17 1C~
ubcamC~inin Balance heck -cnrnaacr a~ital 1~roject l~u~ds tat~mcnt 1~ 11~
ubbining taterr~ent of revenues, ~xpendi~ure and hang ire
Fund Balane~s - lcnma~or capital C~rc~ect funds t~t~n~cnt 19 114
pe~EaC ~vcnuc Funds:
el~edules of>e►+e~u, Lpenditures and changes in
Fund Balances - budget and 11ct~a1: Hauling and ledcvelcpment 1~utl~nrit}~ fund tatcm~n~ ~ 11~
11e~nomic Dc~relaprnent 1~utharit~r ~iund tatem~n~ 1 1 i?
Increment Ilstrict X10. ~ Fund tatcmcnt 111
Paliee Drug ~~arfeit~re Fund #~t~rnent ~ 11
cmmunit D~v~la~mer~t lilac rrar~t I"und statement 4 I~
pity Initiatives raryt Fund tatmer~t ~ ll
ubcan~C~ining tatem~nt aFct ~►scts -anrnajar l;nterprise ~iunds #~t~men~ 14
uC~mbining t~tcmcnt ~fl~vcnuc~a Ep~~scs, and changes in ~~und
Nit ~scts ~ onmajor Ent~rprisu Funds statement 7 ]
uC~e~m~ining tat~mcnt of ~s1~ Flc~v~ -ionma~~r Fr~t~rprisc Funds taternent ~ ~
u~r~mhining tatcntent afle~ 11sse - lntcrr~al erviee ~~unds tatem~nt 1~
ub~amC~ining tatemer~t ~f CVC1]~]C} l~xpcnsesa end Mange in rand pct sscts - Internal crvi Finds tat~m~~~ 1
~brnbining Statement of h Flaw, -1r~ternaf ervi~~ Funds t~tcrnent 1 10
capita! assets Used ire the perati~n of ov~rnm~~tal Funds:
Schedule $ Scure~ Statement ~ 1~
cl~~dul~ B}~ Functiun and ~i~tivit~ Statement ~ C cC~~d~l~ ~f i~ang~:s B F~ncticn and ~►ctivit}r Stat~me€~t 134
T~L~ ~l~T~I~T
P~~e
eferen~e X10.
TII, TTITI,~I~ I~I~TII~1V IT~>~ITIM~D~
oventment-Wide InforEnation:
a~rernment-Wide ~pense~ B}~ Function TaCvle ~ 1
ovcrnment,Wi~e even~e~ Table
Fnnd Information: err~ral o~rermentai ~penditures b Function - I~a~t Teri Fi~c~l Years Table ~ t~
general overnrnental Revenues and ether Finar~ir~g ource~ b}~ source
- fast Tin Fiscal Years 'T'able 4 11
pecia] s~essmen~ ~illir~~s and I~ollections - i,t Tin Fiscal Years Table ~ 1~
computation ofLe~al I~eb~ Iar~in Table 14
Ratio ~f n~t~al Debt erviee Expenditures for general Bonded Debt
to Total en~ral Fpen~itores - ~as~ Ten Fiscal Years 'fable 7 14~
Iiiscellaneons statistical Data Table ~
Tax Lcvies and T collections ~ Last Ten Fiscal Ye~r~ Table ]4
Assess 1~aluc std 1lstima~ed iviarC~et value vll Taxable Property * Table l~ 10
11a~t Tc~t F`iscaC Yca
Direct end ~vcrlap~ir~g'Fa.~ Rates Per la~~~ and T► Le~rieS ,
Lash ~"cn Fi~ca! Years '!'able t 1 1~
Ratio of Diet Banded ~~bt to sses~ed value and I~et bonded Debt 1'er capita -
Lt Ten Fiscal Years Ta~Cc 1 l~4
computation of Dir~et and verlappin~ iebt '!`able 1~
Principal Taxpa}►e Table 14 1
C~roperty I~alue artd ~~tstr~setie€~ - Last ~"cn FiscaC Years Table ~ IS?
i~en~o~rap~ic Statistics - Last'1'er~ fiscal Years Tale I ~
c~edul~ o~`Revenue fond overage - I~ast'1'en l~isea] dears Table 17 ]
chedulco~`Insuranc~ov~r~~e Table
-This page in#en#i~nall left black -
4
y / ~ ~1 f ~ ■f
~ 1~
1
~!l ~I~,~k
~ ~ ~ ~
~i~~r~r~~r ~~rr~rrar~i~
June 1, ~0
I~~n~rabl~ ~ay~r and 1i~rr~~~r~ ~~tl~e pity our~cil
pity roal}~n ~r~ter -
Trann~ittd hrrith i the ~rnprehcni~c Annual Financial Apo ~ the pity
ra~llyn ntr far the fiscal year ended ~e~ern~er I ~ I1inn~ata tatuts and
pity charter ec~ion re~~~ir that the fnan~i~l tatr~~r~t ti~~ pity ~r~ol~lyn ~nt~r h~ audited ~ the tats Auditor r a ~rti~~d public ~au~untant el~ct~d by the
i~ aur~~iC. Thos ~ar~iaE statements hac been audited k~>i~l~ Tau~gs ~dpat)~}
Ltd. ~"hir report i inl~rdd i~ the financial cctior~ ~f this apart, addition, f~L~
Taut~es edpath i r~quird to isu~~ an opinion ors the it's rnanagen~ent and
caur~ti~► ~`or grant ~`unds from the federal g~ernm~r~t, This ``role audit'} opinion i
d~i~n~d to n~~~t rn~aixoring reed ~f` f~dcral granter acnci~, That rp~rt i~ i~~d
in ~ s~par~t~ ltt~r.
r~~i~e of the pity of .lraol~xy~ cr~t~r
The qty of Brooklyn enter gas inorporat~d in loll and i Eoc~tcd its northern
k~~~nr~pin bounty, The pity hay op~ratcd under tC~e council-manager ~'arrn ~f ~ernrn~nt
in~~ the adoprian ~f the pity hartr ire 1 . The ~verni~►g b~d~r i~ ~rr~pris~d of the
layar end faur ~unil ~rr~b~r~ ~ lame, All rr~~rr~b~r~ ~~r four-~r terms
r`rth t~vo of the council ~~mb~rs standing far ltian during each national le~tion year cycle. Thy a~ror and council 1lembrs hire the pity I~rianagcr ~vho rug the daily
operation o the ity.
The pity of lra~llyn nt~r pro~ridc a dull range municipal ~ri~~ to its ~iti~ns,
This ir~~lud~ polio and firs protection eC~+icea caning ~n#"~r~m~nt~ municipal
pl~nin} part and r~r~atiar~ ~ti~riti~s, ontr~ctior~ and rnaintnar~ of trcets,
pra~risi~n of ~~ratr, sanitary ~~r, ~tarrn~vter ar►d trot lihtin~ utilities, ammur~it
and economic dcl~pmer~t are ~cilitat~d t~rauh a outing and cdccCapmcnt
- A~~thorit and an economic Icelapmnt utharit. Thy pity also hay internal
departments pr~~ridit~g human -re~aur~cs, ~n~in~rin~} financial management end
inforrr~atior~ t~hn~l~gy support to thec ~rari~u~~ functions. The pity operate a
can~r~ncc and mcetir~g facility at the Carle ~rav~n ~eritg~ ~ntcr, municipal liquor,
and a hole gold` course.
6~~ hir~~~ rye ~rk~~ _ ~cr~at~or~ a~r~d orur~i~ r~~er ~h~r~~ I~ber
i~ ~ 569-44
~ s.~
wzvw.cityofbrooklyncenter.org
- T~~s p~g~ i~te~~ion~ll lift bl~~n~ -
4
Financial planning and control for the City of Brooklyn Center is based on the Annual
Budget and the five-year Capital Improvement Pro rare. Under Minnesota tatut s, a
preliminary property tax ley must be adopted no later than September 15 of each y ar
for the ensuing year's collection. This establishes a maximum leery that may be
subsequently lowered but not raised. Effective establishment of this levy requires a
preliminary budget be prepared. The City Manager prepares such a budget each summer
and presents it to the City Council in August, prior to the consideration of the preliminary
tax levy. In addition, the City Council reviews the recommended rates and charges for
enterprise funds and other operations on an annual basis as part of the budget process.
Citizens rece ive a notice of proposed taxes in November based on the preliminary 1 ev ies
estabiished by all tying districts. Fol lowing the receipt of this notice, citizens are invited
to p ub li c he ar ings known as Truth 1* n Twat ion he ar ings in each j uri sdlctio n. The C i ty's
hearing includes information about the budget, the property tax leery and the priorities of
the City Council for the corning year as made evident by the budget allocations. Public
comment is beard at this hearing and the final property tax levy is adopted at a
subsequent meeting. This forms the basis for the budget preparation and presentation
framework.
In addition, a Capital Improvement Program is reviewed and revised d ur*mg the budget
process each year. This includes proj for which the City must issue debt and/or
assess portions of the cost to adjacent or benefited property owners. Because there are
limited funds available each year and the City does not wish to issue excessive amounts
of debt, these projects must be reviewed and sometimes reprioritized as the Capital
Improvement Program 'is deve loped each year.
Economic Condition and Outlook
The City of Brooklyn Center is a northern suburb of the Minneapolis /t. Paul
metropolitan area, adjacent to the City of Minneapolis and located 10 miles from
downtown Minneapolis. The City is wholly within Hennepin County and encompasses
an area of approximately 8.5 square miles. The Mississippi River formers the City's
eastern boundary.
The City experienced its most rapid growth from 1950 to 1970 when the City
population grew from 4 300 to its peals of 35,173. The 2000 Census data for the City was
29,172, a slight increase from the 1990 Census data of 28,887. The number of housing
un its has rerna ined stab 1 e at 11,4 3 0 un its, there were 11,704 h ou si n g un its i n 19 9 0.
5
~'he estimated arl~t aluo of pro~err within t11 It lrlyd in ~~rr
~ ,4~~ in ~0 ar 0~ 1 and it it~r~a~d 1 , in 1 over ~idntial -
valuo art eor~tinuing to ria in aarly although arrxrrx~ria~~in~~tri.~ ~a~lu art
r#l~tin an inar~~~e in new ~nstruation and as dlin~ jn aitin alu~. Iran
d~~nand far rtor homey hay eontinu~d to dri~ra up rra[us of r~sid~ntial ~rap~rty in tha
pity. llajar tran~ortti~n r~u#~ in and thraul~ the pity, ir~ludin lntrtat and
4, ar~d tats ihwa 1 Dave pr~~rided a ~ntinuad imp~tu f ~r
d~r~laprnnt of tr~n arr~rrxr~ial tai l~a~e in the pity clan and adjacent to the
~rri art.
orr~m~raial ar~d indu~#rial pro~~rti orn~ri~d ~f the it's taa~~ net ~a apaeity in ~'h~ lar~t ao~rn~rlal pr~pr~y in the pity i lr~~l~dala Ball, a
1 square-f~~t r~i~nal ~h~~~in ~nt~r.
a~t~r `~~i~ 'jnar~iI ~r~di~ion
lafi~r Eant ~f and Local eonnm~r
~rool~lyn ~r~tr i a rnatura} d~~~~p~d suburb i orl~in t~ ritali ital. witi~
its affardahl hauin~ a~ll~r~t soha~ls, b~util Sara ar~d anv~ni~r~t ~s~~ it has
the patntial to ~ntinua to ba a vibrant orr~munity for many y~r to ~on~e. ~'ha
re~ritaliati~n ~f ~raol~lyr~ ntr i ~r~~a~din an thr~~ track: r~~laarnr~t and rnawal
~f tl~~ e~mrnerial aria ~f tlla pity; r~lar~nt and nhan~nt its ~~ing tr~et,
utilitic, and darks; and the riniara~tion of neihl~orhood.
Tl~c pity c~r~tir~ucd its redcvclaprr~cnt cfo ire tea ~r~o>~ln ~oulcrd and ~ cn~c arcs with tic c~n~~latiar~ of a u~lcr~s cta~►~rar~t ~n the narthcst c~rnr and
c~r~structi~n ~f a ncihh~rhaad rctai~ ~cr~tcr an tho pr~pcrty, This a~prairnatcly aarc
vita c~r~taincd a~a of the ~ldr c~rrirr~crcial pra~crty al~n r~~llyn loula~rard.
duper America c~n~nienc Stara has tatian i antiaipatcd t~ be c~ntructed in
lame new display and er~ricc facility fir labal ac ~urni~llings is under c~nstructi~r~
hinl reef parkway and ~rceway ~aulcvard. ~ialitlay tati~n t~r~s eontr>~ct~d a
c~rr~rnissar facility at hinge re~l~ l~arwa and in Tl~ third phao of ~h~
Joslyn sails district was ~llcd with tl~c start of c~nstructi~n far the world hcadquartcr ~f
aril~~u sec. The total ~f #l~c three ~l~asc in the Joslyn ~r~jcat ha~rc added
approirnateiy 4~~ jibs.
► part of a planned rplacernent ~f the aging infrastructure, the pity i in tha process ~f
completing ~~ral street and utility irnpra~ement. Thee impr~~rement were funded by
general obligation impr~vernent hands supparted with ~~ecial as~ssrnents against benefited prnperties~ an aperating tran~fr fr~rn the general fund and funds from the
capital projects funds and utility enterprise fund, Abaut ana twant}r-fish ~f the pity}
~tre~t and utilities are ree~n~tructd eaal~ year. It is ~tpected that t1~is will be a pertual
pr~c~s, inee at the end ~f tentyR#i~r year, it will lie necessary t~ begin the pracss
anew with the streets that war dine fret. n additional henafit f these nei~horl~ood
~r~j~ts has den the inroad intrst b+ rosid~nts and their o#'#'orts t~ ~alnt, r~paira
landsa~p~ and f urthr r~~n~ their ~r~~rti~~.
~'h hospitality industry ~ntributes inifi~ant amount t~ ~r~oln renter's eon~rn.
Lodin tai ~r~~idd more than 4,~~~ fir the fial year ~perati~ns. Plans fir
~ new h~tl t~ aumnt the su~s~ of t~ pity-owned ark r~r~ l~r~ta rater
o~nferene and ~n~ntior~ facility are under or~~iderati~n.
Infratru~ture and Trans~~rtati~n
lntrtate 4 and ~ihray 1 ont~nue ur~dero re~nstruti~n rid epansion~
these ~r~je# are ~~r~pleted and open for use, tral~f t~ and fr~rn the retail and industrial
areas ~f r~ollyn tenter ~~1 i I be greatly irr~r~ed.
ntinuation ~ the l~al street irr~proernents proceeded ~n schedule in ~0 ar~d will
~ntinu~ in ~~4. ~l~e etahlishent of a street le~ntruti~ri fund in will Delp
plan f ~r the ~ngin nature of these pr~j eet. far lihtin~ and ~ide~rall~s v~ill alto ~ ~n
the schedule t~ irn~ro~o the ~n~munity infratrutur~.
~e~rel~~r~ent of utility rate rrMOdel hay improved the pity's ability t~ er~erate cash flow
and seheduie irrtpr~verrrents t~ the grater and sewer system. separate funds for street
lihtir~ aril storrrYwater drainage have also helped control and pri~rite ir~frastruture
impr~ernents and operations in these areas.
ash iana~ement
`fhe pity ~f ~roolyn tenter receives interest ~n 1l finds deposited by the pity in i hanl~ ar~d irrestrr~ent aunt, burin day ly funds rere rna~red t~ a ~~sweep~~
aount paying an interest rate of just under ~~o per year. ether funds were ingested in
various trea~ar seuritie and rnart~ae bael~ed seeuriti~s ~ni~erd acceptable ris)~s
under the i{prudent person" in~retment lin~it'rons of lir~nes~ta statutes, Longer term
ir~vestrrxents gill have a slightly higher rate ~~`interest ~rnpared to the ~~rerniht `~s~~reep'~
rates ~f liquid gash. in addition, the pity lr~ests in the ~i and lulus funds sponsored
by tl~e league of i~riit~t~es~ta titles. These a~~unt pay a return higher than liquid gash
but lo~~er than treasuries and mortgage bael~~d securities. ~`he ad~rantage of uin~ ~1~e
funds i liquldjt~. T`reaury manaerr~et~t requires a l~alane between the a~railability of
cash grid inetn~er~t to obtain the highest r~t~arn without undue rile u#`pul~lio assets.
7
A~rrd and An~~rl~d~r~nt~
Tl~i report hay been ~re~ard f~ll~~~rir~g the uid~lin~~ r~r~~d~d ley the orn~t
Finny ieer A~~oiati~n ~fth~ [lnited tats and Canada. Thy ~~rrnn~~~t inn
cer ~o~iation arard a ertifieate ~f Ahi~r~ment fir ~e~llen in Fin~nial
~portir~ to th~~~ ~vernm~nt v~h~ ~mprel~eni~r~ Annual Financial p~r~ are
~~dg~d t~ or~form ~b~an~ill iti~ ~h high ta~r~drd ~f pul~l~~ ~r~nial rpar~in,
inol~ding gn~rall a~~~td ~~ur~tir~g prinoi~l~~ ~r~mult~d ~ the o~rnrnent
Aoounting t~ndard ~ar~, for the p~~ t+~t r~~r too it ~r~~l~l►r~ ntr'
report hay rrrrit~d phi ~r~rd. ~t i ~li~ that the ~~rrt~~riing r~~~rt r~~t
pr~ram standard. It will again be ~umitte~ t~ the ~~rernment Finance ffir A~oiation f r r~~ri~~v.
The preparati~r~ and p~ablicatin ~f this report o~l~ n~~ ha ~~n ~~i~l it~~~t ~h~
eio~ont ror o~ the ~i~n ta~ff ~f the its. ~ ~vauld Iil~e to aer~olede X11 t~f~
ha e~ntrib~td their ofar to tho ~i~a~nee oper~tiori in 0~ ~n~ thank thorn fir their
. dedie~ted ~r~iee. ~~r~~ld al~~ like to thank tl~o II~~r end i1 ~unil ~~r their
~pport its pr~r~~tin and r~~int~ini~g the hihe~ t~ndard ~f pr~fi~nalim and
rnan~ment ~f ~h pity ~fBr~~l~lr~ enter' fin~n,
lepe 11 fitted
ih~e1,T. ale >niol J~r~et pity Man r ltreot~r ~f dial ~ upp~rt er~ie
~ertifi~ate of
A~hi~vem~r~t _
for E~c~1l~nce
in Financial
Reporting
Presented to
City of Broo~J.yn Center,
~I~r.~esota
Fnr its Comprehensive Annual
Financial Report
#'or the Fiscal Year Et~c~ed
December 31, 20Q2
A Certificate of Achievement far Exce}~ence is Financial
Repor~nS is presented by the Gv~emment F~~e ~~cers
Association of the Unifed States aad Canal to gave~timent units and public employes retirement
systems whose compre~ensi~e annual financial
reports (CAFi~s) sehie~a the highest
standards in ga~ernment accounting
and fmanciat reporting.
3 Iwo
President r~ SEaL
~r
Executive Director
9
~~e ~nt~a~~+~~ . T~► P
1~
iT~' F` I~II1~~ IVTEi~a ~ViIl~l1~T
1~1I11~L ~>~Fi1~ I~e~r~ber ~ 1, 0~
T~r~ ~~`ffi~~ T~r~n Expires
Myrna ragn~s Four gar I~eem~~r ~ 1, ~O
Muni] M~rn~ers:
aihle~r~ armo~~r ~~ur ears C~~c~mber ~
~y La~an 1{~ur ~ar~ I~~c~:rrt~~r 1}
~iar~~ 1i~~~n ~~ur Years ~~mb~r ~ 1 } I~~~rt I~~p~e F~~r Years ~~emb~r ~ 1,
I ~11~~~.
Ii~ha~~ J. ~~u~~ p~~int~d
~I
i,~nally ]cf# bl~n~'
- 'his p~~"~ ~n~+~nt
enter Q~'~~ni~ation
i# ~t ~~°~ktyn ~ 03 C Y
EleCtc~rat~ ~ocnmissi° ~
City Gaun'~il ~
a ~ninisEration
~ • ~ stn9 - .purcha RQSOUrces
~H~ma unlcations s
~ ~ ~ Gity N~ana~er C 1 ~~°gmt. Info. SYS~m
pttorn~Y I ~ ~ .Electlo~s
C1t ses - ~ Y ~ ~ ,~j~y Clerk ~
r ~
~ t
~ En erprise
i "~'~QuOr Cen~~
~ ` C°mmun~~ and $e,~ices . ~Herita~~ -
i ~ ~ R~creativn, 5 - BC►t program
pepa~` ' •Gom rams
W ~ ~ P trole m ► ► ► .R+~creat~n ~ ~e^~r ~ ~ `p~ a1.tOri
~ .G~vmguildings ~
public ~orKs .~nvesti9 ~ .Crime pr~'~entlon nitY Pro9~'m~ ' .Gotf C°TransR~~'a`1ia~,~ ~En~ineerin9 •COm o~ geN~c~~
•StreetNta~nt. .SuPP ~nlor -
.SaniLaN $e'Ner ,pispatch ~ pBV~IO~m~n~ Garage COtr►riU~~fi1 _
.central ! ~ t
Storm ~e'nrer ~ Jam, .Inspection D~vetap►~en n~ pe+lharltY f t~ept. , and ~ .~cono►n~ ~ Redevelopme
.park=t. ~ - F~S~a o~ Sel~t~C~~ ~ •Hovsing
1 gupp .Zantng " m ~t .A~~ountin9 •Plannin9 ~ .
.Fire Preventing g1111n9 rQ$$~a~ ~ •utility Qment
.pire Supt .I~isV k~
.Emer9en~5►
1 PrePa~ed~~ss
4
innn~~~ left ~1$nl~ "
~~i~ i~~~nt
1~
` 11 l~~t -
~ ir~~~~tl~~~' ~
1~
C~rti~ie~ ~~rbli~ ~~~~r~t~~t ~r~~ ~~ult~nt
~ ~~r
t~ ~~ra~l~ ~~r and
m~er ~ ~ pity ~unil
pity ~f ~r~~lr~ nt~~~ linne~t~ r
~a audited ~~c~rn~anin~ ~in~i~l tat~~n~nt ~ tie go~rnrn~~~al ati~ritt~, the
~uin~-trp~ ati~riti~~~ ~~~h major nd~ and t~~ arat~ ainin ~d inf~rn~a~~~n
~ pity ~ roan ~ntr, ~in~~~taa a. ar~d ~~r ~ ndd ~~~mbr ~ ~ ~
~hi~ ~~~~~til ~ru~n~ ~ pity ~f~r~~l ~nt~r, ~ir~vta~ bai~ 'u~~nia1
taunt a listed in t~ ta1~1 ~f ~ntnt. ba~~ anial ~at~~nt are ~
~~~~~~i~ilit t~ pity ~r~oln ~ntr, Iiinne~ta' ~nanamnt. fur r~ponibilii~
i t~ pros ~i~~on #~e bi ~ar~ial tat~rn~nt ~n cur audit.
~~ndutd cur audit a~~rdan~ with auditing standards ~~~r~~~r ~c~~t~d i~ t
nit~d tats xn~ria and the standards pplza~~ t~ f ~na~ia~ ~u~its contained ~n
~~e~r~rr~~ ~4r~~~ir~ "~~r~~~r~, issued ~ tie ~rn~tr~~i~r ~r~ral the C~nited tats.
Theo stan~ar~s ~egL~ir that ~ flan end perf~rt~ ~ audit obtain r~~na~~ au.rrre~
abut r~othor tie basis ~'~nania~ tatoments are of rr~atorial r~isstat~rn~nt. n audit
inelud ~iuin~ a~ a test basis, ~id~no u~~~rtin t~~ aunt and disel~su~'~s in o
basis finanoial taterne~,ts. u audit also i~~uds assessing too aeeur~t priuoi~les rased
and sig~i#iant etiatos n~ad b auaerne~t, as Drell a ~aiuatin tho ~ral~ auoia~
statement pro~entati~u, ~ ~~i~ro that ~L~r audit ~roid~ a roasnabie basis fir our
o~m~~ns,
In cur ~~ir~i~n~ a Casio ~~nan~ia~ tteents referred to ab~e present firl►~ in a~i ruteril
respects, tl~e inan~ial p~siti~n a ~er~nnta~ activities, tie business-rye aeti~rities,
each rna~~r fund, and tie create ren~aini fund infoatiun a it ~f ~ru~~Clr~
tenter, I~inne~ta, as ~~`~eeernber end a respecti~re thane in financial ~~iti~n and gash f l~v~, hr a~pli~~~l~, t~~r~~f ~~r t~~ ~r tin r~~~ in ~~f~r~nit ri
aee~u~ti~ ~rinei~les enerall}r aeee~~ed in united states of ime~ca.
described in dote ~ ~ to the basic mania! statements, tie it ~f ~ro~l ent~r~
~inn~ota aot~d the ~r~~risi~ns of ~erental c~ur~tin tand~rds yard statement
, ~4c~~r~~r~ ar~d 'ir~ar~r'a~ p~r~~~ 1~ar~e 'rar~s~iorr~~ t~t~meut
arc 'r'r~~~~ ia~~~rr~, ~~r~~eer~~ ~~~or~ c~r~a~sis ~a~~ are
oaf ~~~~r~rr~~~s, statement c~~r~~ or~fr~'~r• ~r~afrr ~r~~c~~r~e~r~r~
r~~~s, tater~~nt '~r~ar~~~ad ~a~er~r~~s err ~ara~r~~rr~' ~sr~~ior~ ar~~
a~.r~s -~r~ ar~~cal o~rr~r~~: ]rrr~~~.s, aid taternent 'r~ai '~r~arr~~ad
Ifri~~ 8~~r ~~J~e ~f~~c~: ~Ul~it~ B~~r ~~r~~~,1~it~ ~~~r 1ir~r~~~~~a ~JA ~~I~phar~e: ~~14~ 7~~~ 4~
ff~~ir~~ office: ~ ~~t~ Frar~t~~~ ~aa~, uit~ i , E•i~ti~~st ~5~, ~J ~'~I~~~a~r~; 48~ 4~0~ F~: ~~4
~l~ Ta~t~~s ~edpa~, Ltd. i~ a member ~f ~ 1nte~n~tional. A warld~wide of[~~1112dI14rl a~ ~C~u+~ tilm~ end b~sin~SS advisers.
II
-'~'~i~ page i~nte~~i~nally lift ~l~alt -
~~~e~ ~~~asrs, vl~ Januar~r ~'hi r~ult in ~ e~n~ in the f~r~at and
~ent~nt tl~ ba~i inanial ta~~rr~ent.
In a~rdanc v~ith ~~rrrrrr~ i~~rr ~~arrc~~r~s~ a ~a also iced a r~~~~ dated
Ila~r ~,~~~4 r~ oar ~~n~id~rati~r~ ~f a~'r~~,}r~ ~ntr, I1inn~~a~t' ~nt~~I
e~~~a1 ~r f ina~~~.Z rporti~ ~n~ ~r t~ ofit ~rn~li~n~ ~ rta ~r~iio~s
1, r~u~ati~n, ~~ntsat and rangy. `hat reps i an i~teral ~t ~ an audit prf~rrnd
in ae~rdanee with ~errr~r~~ d~~fr~ ~ar~~dard and sh~u~d ~ read in e~nju~eti~n with
this rp~~k in co~ider a reult cur audit.
T`he an~~r~aeut~ ~ie~~an end .~ali and e b~dt in~~rrnatinn lit~d in e
table ~ ~nt~~tt~ r~~~~ti~Z, are nit a r~~uird pad o#` the ~a~ie na~ial stter~~mt but art
~pple~ntar in~~rrnati~r~ r~~uired b the arntal ceotin tandard ward.
have pp~i~d pertain limited r~eednre, v~hiel~ eensited ~rinei~all~r in~~zirie
rnnaen~~nt ~ardi~ ~ rneth~ds rne~re~nent and pr~~nttion e u~~In~er~tar
in~`~~nati~n. I~oreve~~ a did r~~t audit a in~~rma~i~n and epr~s n~ ~~ini~n ~n it.
~r audit was made for the ~n~ ~`~rrr an ~~in~~n ~n the ~inaneial tat~en~ that
~~lleeti~re~ ~rnpri~e e i re~lr~ tenter, Ilinne~ta' bay finaneia~ statement.
Tie intr~duter secti~n~ ~~nx~inin and indi~ridu~ end statement ar~d s~hed~ales,
uPp~ment ~inaneiat informati~r~ ar~d statistical inat~~~ as 1it~d in tie t~l~ ~
enntent ~ rented ~`ar p~r~~e additir~a~ ana~sis and are r~~t a req~ir~d ~a~t of e
basic ~manial tat~rnents. ~'he c~mbinin and individ~a~ ~d statements ~ sh~dules and
sn~~lernentr ~~nar~ci~l ir~frrnatic lea been ~b~e~ed tc the auditing prc~~dur~,~ a~~lied in
~ audit o the basic f u~an~i~l tat~rn~nts and, in cur opinion, i f girl tat~~ ~n all rnater~al respects} in r~la~ion tc tb~ basic 1*inancil stat~rrzen~ tarn a a whole. Thy introductory
section and statistical inforTnat~or~ have riot bin subjected to ~ a~ditin p~'c~dures ap~li~d
in the audit of the basis ~inan~tal staterner~#s arid, acccrdinla ~ express no ~pir~ion on
tb~~m.
~a}r 04
L1 ~'T1~ ~I~`~H~ L~"~.
erti~ied public countants
~a
17
~`~i~ ~~~e i~t~~tion~lI Left b~a~~ -
0
rnr~~~n~r~t ~#h pity ~f ~roalt~ qtr, r ~ffr r~~r of ~h ~f`ro~lln
~r~t~ra financial ~tatm~~t #l~i n~rr~ti ~~rir at~d an~l,~i ~~'#h n~ni~l ~ti~rtti ~f
tl~e pity fir tl~ #ial year n~~d D~r~hr 0~. ~ ~r~our~ radar t~ ~nidr #h
inf~rmat~~n ~re~~nted her iri or~ju~ti~n Zvi#h a~ddi#i~nal ir~f~rr~ti~r~ that ~ h~ fi~rni~~d
in cur fetter ~f transmittal, which pan l~~ f~urid ~ri p~ through ~f this rp~rt.
~i~n~n~~~l i~hl~~ht
~ The aet #`the pity ~d~d its Iiabiliti ~t the 1~ ~fth mgt r~~r~t fill gar
~ 1,~,~ i~1# ~et~ ~#l~i arr~~~n#a unrtrit~d nit ~t
nl b~ ~1~~ ~0 r~e~ #h ~ernrnnt' ~n~in ohlit~~n t~ ~itir~~ end rdit~r in
~~rdar~ ~~rith #h i#' fund d~inati~n and ~1 p~lii~.
• Thy it~~ t~t~l ~t at in~r~a~~d bar 4a~a ~ 1 .
• ~f the 1~~ t~~ current fish }r~at~, the i#' ~rrrrYn~~rit~l funds reported
c~n~bincd cndin fund blancc ~f fthi t~t1 ~m~unt} ~,4~,~, or i dcinatd ~r rccr~cd thr~ul~ lc~l rtricti~n and pity ~~nci!
~uth~ri.ati~ri.
~ t the cnd ~f the urrcnt cal car the ncral Band balane~ 17,~~7~ inc! udcd
11,3 rcrcd, ,~1,~']'7 dcinatcd, and 1,'],~ und~~t~atcd.
~ The jt' total ~uttandin debt decreased b burin the cu~rrn# fscal
}scar, fr~rn 1,~,~0~ t~ 1'7,~,~~~.
~rvie~v ~f the ~inan~i~l t~terncn~
The ~~u~on end nal1s art 1nt~ndd to r are lntrodu+ctlo~ t~ the ~t' basic
~na~nial t~tcn~cnt. The i#~r' h~i financial tatr~cnt c~mprle #hr~ c~rrz~~r~cnt~: ~
~crnmcnt-wide fin~ni~l tatrn~nt, fund financial tat~rner~#, and nit t~ the
financial tat~rnent. This report a1~~ contain other uppl~mentar informs#ion in ~ddi#i~n t~ the bai financial tatemn# t1~~melve.
I~I'~'1~C1~' ~~c~1~1~ ~~1~ J~I~~l~I[
uvernment-side financial st~teme~ts. The o~rernrrtent-wade financial taterner~ts are
deigned t~ provide readers v~itl~ ~ broad oervi~~ ofth i#~s r~ar~cesa jn rr~anner si~nllar
t~ a private-sector business.
The staterr~nt of`rnet assets presen# infrrriati~n ~n all ~ft1~e pity's assets and Iiabilities}
wjth the di`erer~e between the two reported as net assets, fiver time, increases ~r deerease~
in r~et assets may serve as ~ useful indicator ~fwhether the financial p~siti~n ~f the pity i
in]pr~ltl ~l` ~~teri~rating.
Thy tatrnent of activities presents inforr~atlon showln how the pity}s net assets hand
during the roost r~eent fiscal year. 1! ehnes in net assets are re~ort~d a soon the
underlytn event givjn rise to the ehane occurs, rardiess of the tirnin of rlat~d cash
flows. Thus, revenues and opet~sos are reported in this staten~~n# for sorrr~ items #hat gill
only result in cash ors in fu#uro fiscal periods c.g. unc~llcoted taxes ar~d earned but unused .
v~C~~1~n cave.
lath of tho government-wide ~ir~ania~l statrr~er~t distinguish functions of the it #hat aro principally supported by taxes and in#erovernrnental roenues governmontal aoti~ritios
from otl~cr functions tha# are tntonded to recover all or a significant portion of their ct
through user fees and ol~ars business-type activities. The overnrr~ental activjties ~f the
pity ofBroollyn tinter ir~ol~adc general government, public safety public worsa
community services recreation and economic dvloprrzent, The business-type activities of
the pity include liquor ~perati~ns, golf oursea onntion center, aura sever, storm
drainage recclinglrefusennd street lighting.
The go~rcrnment-~~ridc financial statemnnt can be fund cn pages through 4 ~f this
report.
Fend Financial ~tatem~n#. fund is a gauping related accounts that is used to
maintain control over resources that have been segregated for speifi activities or ab~eetives.
The pity} li1~e ether stn#~ and local governments, uses end aeeour~tin to ensure and demonstrate c~mplianee with finance-related legal re~uirment. X11 of the funds ofth jty
can ~ dlvtd~~ 11~t~ t~vo catcoris; governrr~ental funds and proprie#a~ry f ands.
oernrrxntal funds. overnrrrental funds are used #o account for escntially the carne
f~rrctions reported a o~rornen#al ac#ivitics in tho government-wide financial statements.
I~~wever, unlil~e the government-wide finane~a! staterr~en} governmental fund financial
statements focus ~n near-term infYows and outflows ofspend-ablo resource, as woll as on
balances ~f spend-able resources available at the end of the fiscal year. t~el~ it~forrrxatjon
may be useful in evaluating a government's near-term financial r~uirern~nts,
Because the f opus of governmental ands is narro~rer than that of the ornt~ent-id
financial statements, it is useful t compare the inf ormatiot~ prset~td for oernental
finds with similar information presented for g~vernmcntal aeti~ities in the overnrr~ent-wide
financial statement. By d~ir~g so, readers rn}r better understand tl~c long-term impact ofthe
Management's Discussion and Analysis
City's near term financial decisions. Both the governmental fund balance sheet and
governmental fund statement of revenues, expenditures, and change in fund balances provide
a re conciliation to fa *11 i tate this compari son bet wen governmental funds and governm ntal
activities.
The City maintains 5 individual major governmental funds. Information is presented
separately in the governmental fund balance he et and in the governmental fund statement of
revenues, expenditures, and changes in fund balances for the general fund, the Earle Brown
TIF District special revenue fund, {T1F District No. 3 special revenue fund, the Special
Assessment Bonds debt ser *1 a fund and the Special Assessment Construction capital
projects fund which are considered to b e maj or finds.
Data from the other go vemmen to I funds are combined into a single, aggregated presentation.
Individual fund data for each of glee non -major go ern menta I funds is ro i d d in the fora
of combining statements elsewhere in this report.
The City adopts an annual appropriated budget for its general and special revenue funds.
budgetary comparison statement has been provided for those funds to demonstrate
compliance with this budget.
The basic governmental fund financial statements can be found on pages 38 through 41 of
this report.
Proprietar-y funds. The City of Brooklyn Center maintains eight enterprise funds and three
internal service funds as a part of its proprietary fund type. Enterprise funds are used to
report the same functions presented as business-type activities in the government-wide
financial statements. The City of Brooklyn Center uses enterprise funds to account for its
liquor, golf course, convention center, water, sewer, storm drainage, recycling/refuse and
street lighting operations. The City of Brooklyn Center uses internal service funds to account
for its fleet of vehicles, retirement benefits and compensated absences. Because these
services predominately benefit governmental rather than business-type functions, they have
been included Frith in governmental act*lvities in the government-wide financial statements.
ti
Proprietary funds provide the same type of information as the government-wide financial
state m erg ts, on I y i n rn ore detai 1. Th e pro ri etary fun d fin arc, is 1 stateme nts prov i de se parate
its Form ad o n for th a m urn i ci pa 1 i i q uor go I f course, E ar I e B rown He ritage Center, water,
sanitary sewer storm drainage, recycl i ngtrefuse, and street lighting operations, all with the
exception of re cyc Iing/refuse and street l ighting are considered to be mayor funds.
onversely, tyre intern a I service funds are combined into a sing I e, aggregated presentati on in
the p ropy ietary fu nd financ iai statements. Ind iv id ual fund d ata for t he nonm aj or pro priotary
fund s and i nternal sere ice fu nds i s prov id ed in the form of c omb in ing statements el s ewhere
in this report.
~n~~mr~~' ~iui~r~ ~r~~ r~~fi
Thy bpi ~r~prit~r fund fin~ni~l t~tn~nt pan b f~ur~d ~n p~ t~r~ul1 ~f this
r~~~rt.
n#s #u the finan~i~l .~#a#~m~n#. ~"h n~t~ pr~id ~dditi~r~l inf~rm~ti~n ~ll~t i ~nt~~l
~o ~ fi~11 u~~r~nd~n of ~h~ ~~#a pr~v~~~~ in the ~~rrmm~t-~vi~ ~n~ ~ur~~ f ~nan~i~l
ttrrxn, ~'I~~ note t~ the f~nanil ~~~~~n# pan ~ ~~~r~~ ~n p 1 th~~uh ~ftl~i
r~p~rt.
#~r i~f ~r~~~#i~~, ~'lt on~l~ir~in t~tn~r~ts rrr~~ t~ ~riir in ~nn~ti~n ~itlt r~~r~-
rna~jar ~~rrnnt~l fund, n~n~n~~~r pr~~ritar fund end ir~trn~l rvi funds ~r~
~rntd in~n~~di~tl}r f~ll~~rin the r~q~ir~d u~~lrn~ntr ir~f~rrn~~i~n ~n ~ud~tar
~~~ri~ri. ~mbinin end indi~ridu~l end t~t~mr~t end l~~du1~ ~n ~ find ~n
ga thr~u~ 1 ~ f this report.
~rnrrNr~#-~~xd ir~r~~i~ ~n~Y~+i
n~t~d ~~rlir, n~ t ray ire ~~r #xr~~ a ~~f~l indit~r of ~ ~rr~rr~rn~nt' fin~t~~ial ~~si~i~n. ~n the ~ of tl~ ita Est ~~d~d libiliti bar 1,x,4 at the
1~ tl~ gnat r~~nt ~~1 ~r.
~'h~ l~rt p~rtian ~fth~ its' nit Est 1,7 ~r ~ ~rnt rofl~ot its int~~nnt
in ~~itl ~~t lend, buiIdir~g, m~hin~r, and ~quipmn# ~ ~t~ ~lat~d d~~t ud t~
~quir th~~ sit that i ~ti11 ~utndtn, Tk~ ~ ~ the a~ital at pr~~ide
rvi t~ itiz~n; ~n~q~~ntl~ ~~t r r~v~ a~ai~abl~ fir f~#~r ~~r~dir~.
lth~uh the it' in~mr~~ ire i# a~~~a~i at i ~p~rt~d nit ~frl~#~d d~b~, it h~u~d b
r~otd ~k~a# ~I~ r~~r~~ n~d~d to r~pa~ this dot rr~~st l~ ~r~idd from ~tlt~r ~~rs~ ins
the ~pit~l a~ t~ml ann~# b~ used liqu~idt~ tl~~ li~~iliti.
4
1r~~gr~n~' ~iui~n n~ r~ali
~~err~m~nt~i T~+pe
Activities e~iait~e~ Toll
~rrer~t and ether assets 3,4,171 ,~4,7 44,7,7
api#~l a~~~t~ ~1a~'3,1 ~,~4~,~1~ 7~,~~,7~
Tgtal ass~t~s ~,1~t, 4,$,1 1t4}~,i
Ling test liabilitj~~
~uts#anding 14x1,7 3~,~~~ 14,43,?
der liabilities ,4,1~1~ ,Q~~,44 ,4,7~~
T~talliabilities ~,77,1~ ,3,434 ,77,4
Net asset's ln~rest~d in capital assets
yet a~relat~d de5t 14x733,13 ~~}1~98,~1 ,31,73
Re~tri~ted ~4,~,~ - ]4,~3,~
nrestrieted 17,117,34 ,464,33 4,,
Total net assets X47,404}~ 17 4,36,47 1,77,4
portion ~f the of tl~ pity ~f ~r~oln nt~' r~~t repr~eent r~~ure that are ubjet t~ external r~trition ~n h~~r they rn~ ue~~ T>~~ r~minin b~l~n of
unretrict~ net aye 4,~ may et the itr4s ~n~ir~ ~~li~tion to
ci~t~n and r~itor~~
t tE~e end ~urrnt dial year} the pity ~f ~r~~~l~ n~~~ i ably t~ rp~rt p~iti
ba~la~n in X11 tl~ at~~ri~~ ~fnt at, both ~r the ~~rnmen~ ~ a ~ol~, reil a
fir tt ~par~# o~ornn~nt~l end buin-type a~ti~ritie.
lr~a~r~n#} Di~I~~n and nal~ris
nv~rmm~~~l ~~ii~i~
~~~rr~n~nt ~tiiti~~ ~~u it~d in an inr~a~ of the itr' nit ~~t by 4, ~ ~~r~ ale tl~
~~rr~ll ir~ra t~t~l~ ~,~7~} ~ 1 . ~ ~l~tr~nt of ~1~ ittra~ ~r~ ~ fol1~:
Bu~irte-
avcrnmcntal T}►p~
~~~vi~i~ ~tlvi~i~~ T~i~l
Program r~vcnuc:
h~rg~~f~r~crvicc l,~~~~~]1~ ~,~?4}4! 1~,~~al~~
Oper~~ir~ ran a~~ ~or~tri~u~ion 1,7#~4 - ~ 1,7,~~
tWap~tal grar~t~ ~ ~~r~tribu~i~ns 1,~?,l~~ - 1,~?,1~4
cncral rcv~au~: ~~r~~~rt ta~~s ~ ~t~7, l - 14,7, x
t1~er t~s ,11~, l~~ - ~~1~9,14~
rant and ~nn~ributi~ns
n~~ r~~tri cte~ to pr~gr~n~ ] ,41 ~ - ~ ,41 } ~ ~
~ir~ on the ~E of assts 1~,~7 - 1~~~7~ LJnrc~trict~~inv~stm~ntcarnEngs 4~,~ ~,1 ~~,4~4
`I`ota~1 r~enu~s 1,57~T113 ,~7,5~~ 3~,~?I~,~~~
~pcnsc~: ~ne~►1 g~~r~r~r~~~t ,~~~,4I~ - ~,~5,~8
Public safety ?alE~,~ - ~a1~4,6
P~hli~ ~v~rl #0~, - ,40}~
I;~~nami~ dcvclnpmcat 1,'1~,~ - 1,7,E
or~~ep~rtr~~r~tai ?#17 - 7~ 17~
hriuni~ipalli~u~r T ?4,~7 ?4,87
~1f ~nursc - ~0,~ 70,0
Earl c Brn~~rn Heritage ~ntc r - ,10~ 1 ~ ,10# 1 ic~y~~ling aid rfu~~ ~3,? 3,7~
1~at~r utilii~r - 1,4~,~~~ 1a4,~~
unitary sc~vcr - ,~~7}~~ ,~~7}I~
storm drainage - 8~8a4~1 838:41
tr~et ii~hl utilit~r - 14?,~~3 I4?,~~~ T~ta1 cxpcnsc~ 17,,4 ,~~,43~ ,11~,
In~r~a~~ (decr~a~} ire
in net a~scts h~fnr~ tran,~fcrs 4t~0,Cta~ 7~4,~ x,74#1 ~ Transfers ~~4,440 ~II~4,4~4~ -
Ir~~r~ase ire r~~~ ~,ss~t 4,1 ~~,45 4,76~a 1 I
het assets !:Hoary I 43,~4T57 43,71,4 ~?,07,1
ill assets I~c~r~b~r ~ I ~?*404,317 44,3,47 ~1,?~?,4
~J1~nr~r~~' ~iui~rt and n~l~
~l~ ~r pig r~~~~ hiI~ ~r~~~d ~rr~p~r~s~ns ~h oerr~~nl ~~i~rt~~
r~r~nu~~ ~ ~pnditur:
avernm~~i~l Ariivilie~ - I~~3 l~svrnu~
llneat Gr~+itiu+d forra~~iba O~tr~Cin«~sand
t¢~Cnbuliarar~a~ U~~m~r+~c oat~ic~rd~p~~ ~x }x ~ rnd~di~m
. ~ ~pitsl ~,na
~f~1A14bd ~y
S~yyrr _5_ k.. :i t' ~ .i s
h - -
+ ' i f ~ r ~
~ }Ny ~r-
i'~vpedX CZ~ ~ pia! axes
i
~'~~~rnm~n~1 ~4~Iix~li~s- ~0~.3 ~ippts~s
Gcecn! 1~aodcpstm~! 1
Ecooamic dnela~mea
_ ~ - - _ _ _ .4,,
z
' ~ ~ - - , . .
iCllittl - - - - -
L74
I~l~ afdy i~b~ic.r~tis # I',C
y
r.
Ir~a~r~nt' Diui~r~ rid r~~ii
~~si~-rye c#ivi~i~s
ruin-t~ ~tivi~i~ ~rir~~~~ ~~t as~~t ~ ~,4~ ~o~r~tiri for ~fth it'
r~th in net ~t, ~~l~r ~r r~pl~s ~~ing t~ ~ui~t~~~pe a#iiti~ rooriuo and ~pr~ orrY~~ris~~;
Bu~ine~•"~Yps ~~~tfvitfes ~ ~~0,~ ]~e•~•enu~s
U kmxAaxy~
1~
• •r. - •
a { y4 • 5 • ~ ~ 4~
' - - • ~~4. • ,
• - - • ~ -
1~;~ chv~ far r~ioa
_ . •
i Busfneu-'~~~e ri~ti~iti~- 3~0~ per~e~
SlratlF~hl 1~~~~Ilwquor
Siodltrdf~ilu~ E*~ C~lfCps~r~ 1+~~
i - _
fr• 1 • auk Bm~n
- . - • .
• , ~ 4;.~ . ~sartay xn•a - ~ • f
. . W* - _
cGd~ Yr~d W~t4r m~1~ty Isf'uie
I~~
{~I~~1rCl~lt' ~ru'ran n~ na[i
~in~nial a~v~ ~f the ~~r~ri~~~t~ ~d
~~~r~rnnt~ Thy fog ofth it' ~~rnme~tai finds i t~ ~r~~ide inf~rmati~n
~n rear-term infl~v~, autf~os, and balance of ~~ndabl ro~r~, ~h inf~rrn~ti~n i
u~ful ire a~in the its r~ar~irY r~quir~n~nt. I~ partiulara unr~r~~d fund balance
may erv~ a ufui mcaur of ~ ~vcrrurYCnt' r~ct rcourcc a~railahlc fir pc~dir~ at the
rid ~f the heal ,scar.
t end ~~t1~ nrrent fic~l ~rc~r, the ity' ~rernrnental fund r~p~r~d c~rnbincd ending
fund balncc ~~~,4 ppr~irn~tel ~f phi rrzoun~ ~ , i reerve~
6ccauc i~ hay already bccn ~r~rnitt~d l t~ pr~id~ for debt ~rvic 1,??, lean
rccci~ablc ~ 11 , and fir ~rcpaid itcrrM , Thy ur~resr~d end baianc ~f
1 include dcsinati~ns fir 1 cr~cral fund ~rl~in capital 1,~7'~' and
pccial c~u fund fir housir~ dcrrcl~pn~cnt 1,']. Thy balanc i undcinatcd
and unre~ercd ,~4~.
The general fund ineraed ley in ~rhih way dui to lil~tl l~ih~~ nit
incr~ac in cncral rcnuc ~~r cpcnsc~ than ~rjjnally budctcd cpcctcd.
Thy Ea~lc l~~v~n TIF ~itrict end ~ncrcacd by 107 in bca~ ir~rcmcnt
rcr ~ hit hihr than pcctcd and debt tranfc~s crc nit required a budgeted.
The TIC Iitrit fund incrad 6}r 1,,~4 in beaus t~ increment rceipt
far ~utig~icd c~criditurc ire tl~c ditric#. large increa ova budgtd and ~peted.
The pcial rnent ~~nd end incr~cd by 11 in ~0 bccau ~ required
acment urea laid in ad~ranc,
Thy Ire f'rastruturc ot~trution fund i~c~cacd by 77, t in bccau~ bind pr~cccd
~r rcci~cd,
The ~~n-~na~~r ~cial rrrnu funds i~crcacd b 3,~ fir due t~ grand and tai
increment recipt} particularly in TIC district 4.
Thy non-ma~~r de1~t rvic funds dcr~a~d b 7~~~~. This was dui in large dart t~ the
final payoff ~f ~~►ttat~aling TiF bard ~uith resrr~ a ~~p~cd t~ ~ning chduled f and
tranfcr ~~m pccial riu Fund.
la~~m~nt~ i,iuian end nali
Pr~priet~r~ funds, The ity~ ~r~~rietr ~ur~d pr~i~e the sarn~ type ~f inf~rmatin
fund ~n the arrant-wide finnejal statrr~ent~ ire rrM~re detail,
The unrestricted net at in the r~espeetia rrxj~r proprietary funds are the ~n~r~icipal ti~uar fund - 1,~7, alfcoure - ~,1~ indtcatin a fund dfcit, Earfa gown I~critae
enter - ~77,~~ water utility - ~a anitarr sewer - 1 }~~1 ~ and storm drain
- 1, l a. Thy rr~unicipal li~uar, poi f caurs~ Carla drawn crita enter, water u~ti lity,
~ariitar sewer and tortr~ drainaa funds dad inareas in r~et assets in Ofd af~~,
,4'], ~4,4~ indie~in a reduetin in r~et assets fir ~h~ periods ~,4~,
and ,4~ I, repecti~ral.
apitl e# aid bt d~nirristrution
pit~l gets. The pity's, in~retrnent in capital assets far its acrnn~ntal and busir~es-
tpe actiitic s of ~ccrrihcr ~ } atnour~t to r~et of accurnulatad
dcprcciatian, This in~sttnnt in capjtal assets incl~tdcs panda ~uildins, infrastructure,
n~acf~iner and equiprnnt,
8~~~~~s-
~~ernm~nkal T~~
~l~tl~lltl~5 ~1~t1~lttl~~ ~'~t7~
land r~~t d~pr~~iated 3,~~~4 3,174 ,401,4
Ladd ir~pr~~~rn~nts - 3~,~1~ 3~,~~~ vn~tru~~i~r~ irr pr~gre~ ?~C~ - 7,
~uifdins grid structures 14?04,3 ~ ~fl
De~arhrrrcntal equiprncnt ,43,47 }7~1~
~t~er par) impr~vemer~ts 1at45,~? - 1,14,7
a~~s and lines ~ ,334,4$ ,334,4
~or~-terra deft. t the and ofthe currn~ final year, the pity hid long-term ~ondd debt
autstandjn~ of1~7,,~0~, a deereae ~f fr~rr~ is ~~r neraf
ob~iatian band, 4}~~0~~ for tai inrmcnt bonds and for special as~asn~ant
band. n additian~l 4~,~~~ ~f term per r~nu bind are ~uttandin at gear grid in
the busine~~typ ati~rities.
1r~r~nt' ~ruior~ ~n~ n~l~
d~itior~~l long-trrr~ lia~iliti~ in~lu~~ ~ for c~mpenat~~ absn~~. This i the
aum~altd ~r~~ti~r~ ar~d i lrr a~~ajlabl bit got b ~m~loy~~ at tl~~ end ~f
ity' utt~~tdin ~l~t
~nrl bl~ti~n ~mpro~m~n~ $ond# ~n~ra~ bl~~~inn Tex In~rm~n~ ~~nd,
~~~-~'~r~n o~~ ~n~ omp~~a#~d b~~n~e
~v~rnm~ntal Type
~~j~rltl~s tj~i~l~s 'Y'qt~!
~n~r~I ~blia~i~n ~~nds a7~,~~~ - a7~,~~~
cn~ral 61ig~tt~n 'ra Inr~ment ~~nd~ ~,~0,~~~ - 4~0~,~~~
~n~ral ~1i~ati~r~ pia! ~~~~~m~r~~ ~~r~~ ~a?~,~~~ -
1~~+~n~~ fonds - 4~,00~ 4~}~~~
~rr~p~nsat~~ absen~~~ 7~,7 - ?~,~7
Thy pity maintain an 1 rating from i~o~'.
t~~ t~t~t limit tlt~ arrl~~nt ~f n~ral o~liation ~~bt iir~n~s~t~ pity ~ iu~ t~ of
total tirn~t~~ ~ari~t 1~~iu. ~`h ourrnt ~~t lirnitati~n fir the pity i ni
~ftl~~ it' ~utt~~din debt i o~ntd ritltit~ t~ t~t~t~r~r lirnitti~n
~rn~unting t~ ~b~ut ~f the t~t~l limit.
l~~ne~ fir ~nf~rm#~on. 'his f ~~a~~~al r~~rt i ~ign~~ t~ pr~~rid ~noral ~~r~rio~
o~tho ity' fi~ans for l! the +ith ~ ir~t~ro~ ~r~ the orr~t~ont' finar~~. u~tian~
~nrning any o~t~o information pr~id~d in this rpor~ ~r rgtlt for a~~itiot~al financial
information houfd ~ addr~~d to t~~ ~ir~tor ofFial and u~p~ort Sri, its of rooll~r~ ~ntr, ~1 l~inl r~l foulard, ~rool~lyn ntra innot~
l
-This page inte~nti~naIl~ le~~ ~l~nk -
1' 1111~~~ 1 1 L' ~1~1 .4
- 'his page ynteuttnn~ij~ le~~ bi~nk -
34
I'~ F ~1i~~II.~I~ EIVTE} iVlli~i~T
T~►T~T iF NAT ~T ta~emen~ 1 T~eoern~er ~ 1,
i'rimary av~rnm~nt a~emm~ntal ~~~iness-T~~
Assets; ctiv~tis etivitie Fatal
h and inv~,~tmcnts ~0,~4,4']~ ~,~~,7~
ee~ivablu~:
interest - ~,7
eeaunis ~~,4 1,~,7~~
~~linquent 7,~~ 7~,~ ~ceial a~~essmer~t ,~a~l~ ~'],~7~ ~,7~4,1~~~
Internal balances 1~,~~ i~,~ -
~J 11 ~~J 15r L ~5r ~L ~ J 5r ~ ~ ~ ~ ~ }
In~rer~taries - at cast 1,85 4~a$4
restricted assets:
ah end ir~vetmer~~ 1 i?1 ~ - ] ~ 1,1 i~a~ital assets -net ~~,7~~,1 ~,4~,~ 7~,~#?
Tatal assets B~Ii,~~ 4,77,8 11,~4~~~
I~labiliii~s; ~~a~nt~ payal~l~ 4,48 4?,~7']
Depa~it~ paal~le - 17x0 l
I~uc t~ other ~ovcrnm~€~t~ 5,81 - ,~~1
earned salarius ar~d ~~rae~ ~0~,7 7~,8 48],1
Accrued i~ealt~ ir~suce 1,4?,~ - 1,~47,~
ocrued interest parable 7,~ ~0,~3 B,~~I
[Jnearned re~renue 14?,~ 17}~~~ an~}~enated ab~en~es }payable:
Iue ~~rithin one year 7~~,7 - 783,7
P~ands parable;
i~ue ~vithin arse year ~a57~,~~~ O}~~~ 3,7~0,~~0
i~u~ in more #han one year i3,4i~,~~~ 3~,0~~ 13,~~~,O~o
Tatallial~iliii x,75?,~i i,4~,43 #1,1
,i~t assn:
Invt in ~~pit~] a,~set~a r~et of related debt 14~?3~1~ 37~~~,1
ieskrieted for: Debt service }~~4~~~ - ~,44,8~
Ta,~ increment p~rp~asc~ ,38a~~ ~ ,~~B,E~
Unrestricted t7,8i7,3 x,44,33 4~$~~
Total net assets ~7,~~~,31~ x,3,47 1,77,4
The acompan}~ir~~ rotes are are ir~tera] part of these linanclal st~teents.
iTY ~ ~~~Y ~IT~I~, I1T
TTFIFI~" F "1`1IT11~ For the Year l~r~ded ~eeer~ber ~ ~ ~~3
dare l~or
Eper~~e~ services
F~neti~nsfl'ro~rams
Friary overnmerrt: overnn~ent activities;
general ~overnrr~er~t ,~r~~ 7,~~1~
Public afct '],1$4,~~ 1,~ t
Public ~r~rk,~ ~,~~,3 ~,5~
~mmUnit services -
Pars and recreation ,1,~~ 4,~4
Econ~rnic development 1,7 - I~Ior~departmen#al ~~,1~ -
drninistra~ive se~viees rei~nburserr~ent C~7,1~ -
Inter~,~t on lo€~-terrrt ~e~t ~ -
Total government activities ~ 1,~~?,71
Bu~incss-type ~e~ivitie,~; lu~ticipal liquor
olfcours~: 0,0 X4,14
LarCe l~ro~vn I-Ieritagc ~;r~ter ,11,1 1}74?~~
~atcr utility ~,4} 1,~~~,~~
a~itar se~~cr ']#~3 ,~7~,1~~
tarrrr drainage ~$,t 1,~4,~1
I~ther enterprise f~nd~ ~?~,~7 4~ ,4 ~"o~a1 business-type activities x,54?,4 ,~74,~1
7*oial prirrra~ goernenent 10,8 t~,$~~,1~
`1"he aeorrYpar~}ring o~tes arc ao inte~ra! part of these finar~eial statements,
t~t~m~n~
I~,iet I~pcnse~ revenue and
P~~ra~ I~~v~nu~s hares in Net Assets
~p~rating a~itar Frimar ~~ernment grants and grants and ~c;rnmental I~usine= I'~pe
contributions ar~tributior~s ctiviti activities '!'vial
D,i - ~,~,17?~ - ~a~4a177~
~4}t 1#~~}t~~ (i,474,35~~ - 1a4?4,
- - ~~~}1~~ - X4,14}
1 - r.r~ }
- - - 1~,4~ ~ ,4C
- - ~ X11 ~1
- - - ~~3,U77 30,07
- - - 41,~~ 4 ~ ~ ~ ~ 4~a~7 4,7
1,'],00 ~ ~ 4 ~ 1 ~ 5 ~ ,7 1 , 0,04
er~eral revenues:
~ropert~r taxes 10?407 1~ - i 0,40?, 1 ~
'I'ax ir~crcmer~t collections 3,~7,~81 TM ~,?,fit
Lcd~ir~~ taxes ~~l,~? - CC1~?
rants ar~d contributions r~ct restricted to specific programs l,~1~,~1 - 1,4~,~~
nrestrictc~ investment earnings ~~a1 ~0,4~
fain on dispesal of` fixed asset ! 3a? - ]
tt~~r 5~a~4 4I,~~~
Transf ors i 00,000 { t 00~000~
'i~oial g~:ncral rcv~nu~s and kransf~rs 1?,x,71
han~~: in nct ass~;ks 4a10a0 C50~~5 4,'~~0,11
Net assets - belnr~ln 4,4,'] 4,71# ~7?~~7,1 ~
~:t asscks - ending 17 44,~~947 X91 X77,4
The a~~~mpa~~rin ~ote~ are an integral dart of tl~cs~ financial stat~ment~.
CITY ~F ~1~~~11~Y F~1TER, ~ii1~i~F~T~► 1~ALAI~~ MEET
~~1~1C{!'C1~1,, ~'~i~~
Ike cembcr ~ 1 F ~4C]3
Carle gown 7`~ (i
A~se~ cneral Dis~ict
~asl~ and investments ~F14~4 bI,S~G
Reeei~rable~:
ceot,nts 57,~C~8 -
Delinquent ta~~~ 41C1,~~G ~ 1,$
p~cial asscs~rnen~s ~~l
~]uc front other Funds _ I~ue fr~rn other gov~nu~t~nls 34}74 -
Prepaid expcn~e~ x,349 -
dvances to ether fonds l Q~~74 t
cstrieted usscts: asb and iuvostrnenLs 1~ I ~ -
Tots] apse ~ ~,1 ~ F4$ 17~,7~~
l,iabilitie and C~und ~al~.r~ce~
Liahilitie~:
Ac~n~s pa~abl~ 41~,9G3 $~F~3
Due to over fund - 1,44~,~~3
I~u~ to ether ~ov~rnrn~nt~ 1,~~4 - Acorued salarie and wage 3~,~G
Advance from n~er funds - 9 ~r ! ~3
Dcfc,d rcven~tc 3~1,43~ 11~,~4
Total liabilities 1,13~,SG$ 1,$f,C 1~
Tund bafanr~s: l~r~cnred for: •
Prepaid 1~erns 5,3U~ -
Loan rcccivablo 145tC17~ -
Debt service - - Unres~rv~d:
17csiated tcpartcd in:
General i:und ~,43l,47? - peoial C~ovenu~)i'und~ -
[~ndcsi~naked reported in:
en~ral Fund 1,8~,G~~ -
peoia] Rcver~uc Fundy - (1F~~~t3~8) ~nital Proacet pur~d~ -
Total fund balances $F017,ClSll (1,G8,3~~)
Total liabilities ar~d fund balan~cs ~~,l~~F~4~ 1?~,74~
The ac~ornpar~~ir~~ note arc an int~:grnl part of these linancia] statements,
t~tem~at ~
T1F p~~ia1 ~t~er Intra- Tole]
District ssessrn~nt ln~r~~r~~~rc Covcr~u'ner~tal Activity overnrneotal Ala. 3 I~on~ instruction Funds Eliminations Funds
5,4~,7~~ ~~,~G~,~7 ~~3F44~ ~,~G4F171 - ~3F4,~8
- - - - ~69,~79
17~, - 41,41 - 7F1~9~
- ~~~,18~ ~,~~G - 414,59 - - - - - 5,~1~9
- - - ~t1S~,~B (t,44~,11~~ ~~5,41~~
- - - - - 131,153
~,~~1,734 ,1~79r~8$ ~1,555,1~5 ~,~45,3~3 [~,~1~,358~ 9,47G,~
7,97 - 191,4~~ 36,195 98,G~G
- - 54,99? - 5,8~ 1 1,43 - - 1 ~,~91 - 393,U7~
- - ?{,9 ~ - ~ 1,418, l I -
1~~,441~ ~,14~,514 I,336,95~ 591,95 ~~,~14,3G8~ 5,1,145
- - - ~,188,1~3~ ~ ~,~93,11~
- ~,97~,874 ~ ,~,44~ - 5,1,77
~J - - - - -~,~3[~1yy,U~?ryry7
1,7,895 - - - 1,~~7,~7~~
- - - - - 1,8~~t6Q
4,~4,~~ - 1,777,197 t, ] 4
- - x,179 1,94,91}Q - ~,133,47~ ~,l 19F~90 ~F976}~7~ ~,17~ ~,~1~,~38 4 ,871~,49~
~,~~1,70 6,1~79,38~ 1,56,135 8,845,6 (~,I1~,~G8~ 9,~7G,~~8
Fund h~Cance rented eve ~,~74,49~ ~lrnuunts rcporicd for ~~vemmer~[a1.~Cli~+ill~ i,~ ~c
s~n~erncnt ofnct assets are diFfcrcr~t bceausc~
capital asset uscd in ~~vemmcnkal activities are not
~r~ancial r~SOUr~~St and th~reforc, arc nit reported ire tho funds ~9,5U1,33 i ether lcng•term asset arc net av~ilabl to pay der current-
pcriod cxpcndituresand, ~erefcrc, deterred in ~e I`unds. 4,~1~7,9G5
[.ong-terrn liahili[ics, iacludin~ bads ps~rabse, are net due aJtd p~~rable ire the current period and tl~ercforc art net reported in titic funds. 17,~~,~~~
Cnternal service fends arc used ay management to charge the mss[ of certain ac[ivities to it~~livisJual funds.
The assets and liahiliti arc includ~~ in the ~averr~rnental skalarnent ~fnet assets G,81,466
Net assets oi"~cvernrnental aetivitics $47,4}~17
Tic aecompanyin~ n~tcs arc an intc~,ral part ~f these financial statcrner~ts.
IT1' F 81~.[~Y1~ 1~T>~~ I1~II~I>~T
T~►TEiI~1~" 1~ R~1~GI[JI~,1~.1~LI~lI~ITC~I ~4I> H~ I F[JID I~G~1f;
01~~Ei~'AL pUI
iior'I'i~e dear Ended ieernb~r 1,
Carle i~ro~~rn
Tl1{
general ~istriet
Revenues;
Taxes and special assessrnenks X10,?~~?4
Licenses and permits -
inkerovernrnental ],4,~7 - k~ares for services -
ourt f yes 0,~~I~ -
investrnent earnings
liscellanus 1, -
Tota! r~v~n~~~ X4,0,10 8~,0
Expcnditur~s:
urr~nt:
~ncral go~rcrnrn~nt ,47~3~ -
I~uC~lic s~fct}~ ,~4,~~ -
PUC~Iic wor)~~ 1,4,E - ornmunit}~ s~rvi:s i,~$I -
Fark~ and re~r~ati~~t ~0~0,40 -
L;conomiedevelopment 1 ,O
I~iondeparkr~enta! 1,~
1~dm~r~iskrat~~e services reimbursement (~?,1 } -
aplta! outla~r:
general go►+erumenk ,5 - ~ublic saf~y 17}7 -
~ublic ~vorlCS ,~0 -
~arks and rccrcation 7,3 -
londcpmcnkal 1~~I~ -
>ebt service:
~rineipa! rekirement - -
inkcrest - - Paying ~~~;rtt fc;es - -
'I'ota! expenditures ] ,~}4
f~v~;nu ~v~t U~tdcr~ ~x~cndikur~s 1,1 7~~?~~7
~thcr hna~cing sources fuses): bonds issued - -
iiscount on debt issued - -
alo o~ Cand - -
Transfcrs in ~ -
'I'ra~sfer out 4,~
Total over financing sources fuses} ~~194a~
het increase ~decrease~ in end balance ~7,~0 ~
fund balance - January ~ '],,?74 {i,i~~4~
Fund balar~c~ - I~~~~mb~r 1 ~,017,~~~ ~1,$,$~
TC~c acc~mpan~in~ notes arc an integral part of cse financial skak~~n~nts.
4
tat~ment4
TIF p~~ial ether Intra Total
I~i~tri~t ~~c~~ment Inftr~~ture ~vernmen~al ct~v~t ov~rnm~nt~l
,i~. 3 B~~ds ~n~tructs~n F~nd~ I~lirnEn~tions Fund,
~~,1~ 1~1~ - 3,47,I1~ x,54 ,14 - 7I1,~~
~1,~ ~ ll~a4 ~aI~4 - 3I7~~~
~390,~~~ ~ ~ 1 44,I~77 ,~4,I1 I ~ 1 ~~}70
- - - I - r47}
- ~C5}~ - x,0,4 1
i k - - s J~R~ird
■ - - - C~07,1~
- ~ - - - ~~~41~
i~Y~~~yy~ V}{~y R R ~Vyi~ iR~~y ~ ~ ~}V~7 ~ 1 ~L f ~ L~~ f J
7,~ 1,4~,~7 ~,~17,41 ~ 0,47}~I~ 1
- 1~~5a~y~y~//Ir/1~l - - 1a~,~~~
R Y } V V V V~ A ■ //f
- 7,17 - 7~,1?~
,07 ~$O,~~D ~a~~4,43U 1~~,I1~~
~~~~,Il~~~ - ~~7,~~4~ 3,~I1,~ -
~~~~wtilUV~ L~,~I ~ 4 ~V~4~ 4~L~! til ~4►ly~ l~
4,I~?~4 ~7,~1) S,~I17?117 - 1,4~~?~~
C~,11,~ ,~7,II74 ,1 ~ $~~~,~8 ~ ~~#~7~,
'1'h~ a~c~rnpan}~ir~g notes are an int~r~l part v~`th~s~ f r~ancia] statern~nts.
I
~~~~,ll
~hi~ ~~t~~tt
IT F BII~i 1~~'I~,1~1I111~T
E~IIIITIOI TI~I~ T~1T11Iv1'1' OF L1~LlUC, tatemcnt EEI~ITURE, 1D HAIL l,i 11i~~ 1~LL F
~Ef~TI} FUNDS
For The 1'car I~nded lecembcr 31# OO3
~►moun~s rcpnrtcd for ovcrn~ncnka! activities in kl~e
statement of aclivitles arc ~iffcr~nt because:
Net cl~angcs ire end balances - tetal government!! fund, ~statcmcr~t 4 ,3~}~~~
avcrnmcnkal funds rcp~rt capital outlays as ~:xpcnditures~ Ho~vcvur, in the
~tatcmunt of ackivitic~ thu cost of th~sc asscks is allncatcd over khcir
c,~timated uscfu! lives and rc~~rkcd dc~rcciaticn c~t~e€~sc. This is t1~c
amount b ~~hich capita! outla}~s exceeded deprceiati~n in the current period.
In khe skakement of activities onl}~ the gain on the sale of eapikal
assek is rc~~rkcd. H~~v~~rera in dte go~rcrnrrr~;nt~! funds c
proceeds from the sale increase financial resources. '1"hus, dt~:
change in net asseks differs from khe change in fund h~l~nc~: b tl~u
eosk of khe eapikal asseks sold, ,~~0
le►~enues its k!]e skakement ofackivities khat do nok provide current financial rc~ources
are not reported as revenues in khe funds, 40,75
'1"he issuance of long-tern debt bonds leases} provides current financial resources
to governmer~kal funds! ~vi~ile the repa~rment of the principal oflong-tcr~n debt cor~,~nmcs
the current financia! resources of goverr~menkal funds. eitt~cr transaction, ha~vcver7 i~a an~r eff`cct on net asseks, 'Phis arnaunt is ate net effect of tl~cse differences ire tie treatrryent
of long-kcrrn debt and rclakcd items. 1
lntcrnal service funds are used bar management to el~argc the cost of
certain activities ko individual funds, This amount is oct revenue attributable to
governmental activities X1,7
Accrued interest reported in the statement ofaeti►~ities does not require khe use
of current ~nar~cial resources and, therefore, is not reported
expenditures in governmental funds. ,~4
bange in nck a,~sct~ of ~ovcrnmcnkal activities statement ~ 4, I~?~~~
'1'he acompan~ring r~otcs arc an ir~te~ral dart of these financial statements.
IT OF B1OI~i~ E1T>~~1, i1~~i~l~IT
TTEh~i~IT T~ iT~'1' ~1L`C P1P~ET' I'llI
Dee~mbcr ~ la
Business-'1`p~ 1~otivitie
lVla~or Er~t~rpris~ Funds
lviunicipal half Larle brown
Tliqunr tWo~rse I•ferilae eater ss~t~:
current asset; nsh and cash e~uival~nt~ ~ ,4
Accounts recei~+able - r~~t i0,~~ ~ 4,~
~~~ial asssmer~t r~~eivable - - -
Prc~aid items ~,~4 -
Tr~~entories - at cost X4,419
~"otal current assets ,fit 1,t~~o04
concurrent assets: a~iial assets:
T~and improv~m~nts - 4~,~~ ~7,~~~
B~ildin~s and stru~tur~s - 4,94 l ~,09~,~9
lviacl~in~ry and ~quipm~nt 11,1 4}544
IVlain~ and lines ~ - -
Total capital asscks f r99,? f ,9~,~~ Less: llo~~anc~ for d~prcclation T~}7~9) ~T,1~44) {4~~7}i0
pct capital asset t4~C4 i}~~,
Total noncurrent assets 14,4 f,~7,9 ~1~5~3
Total a~sei~ i~44# l,~l~,t 1D,04~,~?
I~iabiliTies:
urrcnt liabilities:
Accounts pa}~al~lc T1}~~~ ~ Ta49 T~~,~8
Dcpnsits pa}~a~lc - - t7~~~7~
ccr~cd salaric pa}~ablc 1~,5$~ , 1 35?~7
~►ccrucd interest payable - - -
I~eferrcd revcn~e - - 1~,~1~ urrcnt portion of long-tcrrrY dcl~t - - -
dvanccs from other funds - ~1~5~~~~ -
Total current liabilities x,74 8~8,~11 41,4~~
I~1~ncurrent liabilities:
bonds ~a~ral~lc - - -
orn~~;nsatcd ab~enccs p~able - - -
ecr~ed health insurance liability - - - Total nor~eurrcnt liabiliti~:s ~ ~ ~
Taal liabilities ~~}~74 ~,~11 4~,45~
let asses;
f r~vested in capital asset, oet of related debt ] 4~,4 i,7~,9 ,1~1~5~5~
[Jnrestricted i,~7,~ X47,54
'T'otal n~;t assets Tal~a~ 4~,~1
~1d~ustrnent to reflect the consolidation of internal scr~ice fund acti~ritics related to cr~tcrpric funds
l~ict assets of l~usincss-type activities
The aecornpanyin~ not~;s arc an integral part of these financial ~tatcrr3cnt,~.
l~~in~s-Type ~tivitie~
lar~r ~nt~rri~~ ~~n ~thcr
at~r unitary torrrr l~ni~rpri~e Taal ir~t~rnal Taal
It~litY c~vcr I~raina~c li~n~ ~nterpri~ ~rvic~ ~ropri~iar
4,C ?}1 i,~~, 3,49 1,,11
~~,54 X14 - 7,70 - 7~~7~
1~ 11~~7~ - - 1~~,0 14?~~
r.r
,4?~}~~~ 1,1,$~ ],1,~t 1}~~ ,~~4,? }1}~ 1~,4,~1 ~..~r r
,~~1}~~ ,~4}. - - 17,x,7 - 17,~~a?~
1,7],]0 1,44,~~ ~~}7}~ - ~~141,~~ - $,l~t,~~
17,1x7 1,11~~1 1,,71 ~ ,71,1 ,~1}7 ~,5~,~ ~,~~~5~~ y5~,D?~ ~1,,7~ - (1,~71~~~ ~,7,~~} ~~4,~4,~~~
}~7,1 8~~~ 10,7~,~~1 0 ~,~~~~C1 U 4~,~,~4~
Uy~}1 U,J}JT ~~y~~yUT4 ~ Uy~U~V~ y~V~~~~ ~~~~~~J~~
11 1 t ~j 1 f~ 1 Q ~y Q Q i { Q ~~,~irJ}~~ J~}~~y ~ I,Vy4V~ IVy~J~r ~~~V~U~ yl~y►! ~J~U~1~~
~a~ ~ 7}7 1 1,~711~}?{#~~y17~'~ 11a~ 1 ,,y~y
■ i • f f V#~i it - l~V?~Lyl
147 ~ ~ 77r 10,51 ~~,i 17
- - 10,~3~ - 10,0 - 10,0~~
17,E - - - l47,~5 ~ 1~7,0~ - - 0,000 - ~,D00 - 0,000
- - - - 1,000 - x,000
0,07 ~1,~ 4,~8~ 1,~?1 ~,0~4a4 ,~5 ,0771
- - ~O}000 - X0,000 - ~~0~000
- - - - - 73,7
~4?~?9 ~1,~~ 47,~~ 1,~7i 4,4~~ yiry~J 4,~7~~33
$?47?~~1 T7~~~ 10,~~,4i ~ 37,~1~ ,~,O 4~?1~~?~
?9,~~ 1?840?11 i}1,34 17,1 y~0y~~0 4,5,78 it?~7,0 rr`r
10~17,CC1 10~4~0,5 11,453,~7~ ~1?,~1 44,388,4 tiJy~~,~~U 1,14}O1~
~~y~~8~
4,3,47
'1'h~ a~~rn~~n}~ing n~~~ are: ~n intcgral part of th~~~ financial ~~atem~~t.
CITY ~F B~L1'i EiT'~~ I~i~~1~T
~"T~~I~' F EEi~Ea EFI~l~ 1~I
1•~~1I1~ 1 F[.f ~T ET PI~~PI]~T11~C 1~lJl~,i~
Fir Tire Year Ended D~ccmber 1,
$~si ~ ~,~~-T}~pe ,pct iv it i F
l~~or Ent~rpris~ ponds
luni~ipal golf arl~ ~~~rn Liquor ou~rse Hrita~ inter
operating revenues:
les and user fees ~,~4 ~,~~,~10
host ofsales ,~4}3? - ~,44,I~
'l`ots! operating reven~ ~,i~ 1,~~}~
peratir~g expenses: Per~~n al ~erviecs ~ 1,'] 1 ~ 1 a 14
upplic , 171
~ther~crvices 11,78 88,4 ~I~,~~
Insurance 7~7 5,~~ ~,7
utilities ~ ~,1~~ ~7,~
lend 1 ~4,~ - l 04}7~
Depreciation ~~,80 ~}1 7~ Total operating cxpcnscs 7,~ ~?,3~
I~per~ting income loss 1 ~}1 }1 {~5#44)
onopcrsking revenues expenses:
In~restment earnings ~4,~,~ l,o~~ ] ,1
pceial asses~mcr~ts ~ - - ain alas nn gale of fixed ass~k - - -
thcr revenue 7a] l 8
Inkerest a~td f Esesl agent fees ~ -
T~~al ncn~pcraking revenues e.~penses} 1~~01 ~ 1,~ l
Incornc los~~ before contributions and transfers l 'T,4? ~4~,4~~
~1`ransfer:
'[`rar~sfer t~ capital project ands {l~~?~~~} .
change in net assets 7TH'] 34,~~~~
Lek assets - Jsn~ar t x,51
het - I~ecernber 1 I, 11~,~5 1 a3a?~
The accompan}~ir~g notes are an integral part of these fir~~ncisl stste~nents.
t~t~m~~t 7
l~~in~s-']'}~p~ 11~~iiti i i
i~~or i~ntcrpris~ l~unds th~r ~ 3`otal ~~ter ~t~i~ary ~~rrn l~nt~r~rie Intro ~ti~it}~ Ent~r~ris~ Int~rna! Toni
[J~ility ~~ver Ir~ir~a~~ ~iun~ I~lirnin~ti~r~ Fu~~~ ~rvic~ Pr~~ri~t~ry
1,~~, ,$~0,1~ 1,4,1 41}4 - 1}17~~~? la~I7,?1~ 14,I1,~7
- - - - - 4,1,4 - 4,1~~?4
1,~, ,570,1 1,,l I~ x,74,41 1,~17,7I~ ,~~,1~~
4a I1,5~~ - - - t,~3,3 ~~1~17 ~11~,~1~
11,7 ?,40 3,~~ l - 4,7 1?4I~ 47,7
~a~l ,8I~3 1,~ ~~4 - C0}~C 1 4,~1 1~3?
1~1a4~I~ ,7I~ - ~ +~C~~}+ ,71~ +47,+ - - - - 4}7 - L~~,1
~4~,115 47,3 1,~5 - - ,7~a17I~ ~~,7~ ,~'],~7
+.r r I,~~,~1 ~,~~,~4 ~~~,13~ ~ ~,4 1,31~a~~1 ,8~7?~~
{10,~~ 313,~~ 4,~ 41,E ~ 47}75
ti
?334 1~a 1~,? ,~4~ - ~~?1~~ 1~~,~~ i~,7~
4?7~ X47 ll,4 - - 13~a77~ -/y}~ 13,77
- T ! i - - 1/'rYY i ~~~V Y i
1~ ~1~,1~ ~~yy,~37~~y3 1,4'] - ~/0~~a~5y*~~ 1, 11~y,~y~y~
- - ~L 4.~~J ~ ~ L~ 4J V ~ ~fi~ V V
4,71? 77,3 13,~I 1,71 ~ 14,0 4~#
x,35 X91?~U 7I~,4~I ,04 ~ 77a4~ 14~,78~ ?,7~
tD,~~0~1~43 1~,00~0~ 1~?I~74?74 11,1? - 43}71,45 a~~3,~4~ ~~,~G,343
r
1~,517,~~1 1,400, 1~,43,~7 ~ X44?~~~,~ 1,~4,~~3
'1"hc ~~~;~rn~ur~ing ~ot~,~ are ~r~ inte~ra] pert ~f ~h~e f in~r~~ial stat~m~~ts.
4
I~' ~F B~Il1IV 1~IT~1~,1~III~II~ET
~'TEE1~iT I" ~1I~I I~L1~V
PI~PRII~T111 I~C~N~ Por ~'he dear Lt~ded leeernber ~ 1 a
l~usincss-`I'BC; ~1cki~ritie~ ~ w
labor IJr~ter~risc Funds
i~iuttieipal golf Carle l~ro~~n
LiC~uar ~~c 1-leric cntcr ash flC~~vs from opC;r~~iin~ acti~ritiC:s:
ic~~i~i.~~rorrr~uk~~er~andus~r~ ~}4~}7i~ 4,1~ ?I~?14
~eeeipts fr~r~ internd services provided ~ - -
~aments to suppliers {i~~o~ a~~1~~~7
a}~menis ko emp1~}~ees ~7'7,~ t~0~
ili~cellaitu revc~uC: 7a11~ 3
Net cash flo~~s frog operating activities ~7~~7 a~~ 171,4
Casio flC~~~s from ~tC~€~capital fi~anci~tg aetiitiC;s:
Principal rcpa}~rnc~ nd va<tec - ~ i
'T~ansfers ouk ~1~~a~~~ - -
Net cash flo~vs from r~oneapikal financing acki~rikie~ ~1~~aI~~~ ~1~,I1~~~ ~
dash 1~o~vs from capital and relakcd fir~anci~tg ~ciivi~ic~~
cquisikion and conkructior~ ~f capital acts - -
l~rir~eipal paid ors rever~~e bonds - - - lr~terest paid rever~~e bonds -
Net c~asl~ flo~~s from capital and rclakC;d linanCrial aetivikics ~ ~ ~
h ilo~v Crum invesking activities: Inkerek on in~reslme~ts ]4,~~ 1,0~~ I7,37
Net cash #~o~vs frC~m inv#in~ acti~ritiCrs 14,E ~ 17,7
1ct incrC~aCr in cash and cash c~uivalcnk~ ] ~,~~D l~~a9~~
dash and ea~l~ e~ui~va~cnts - January ~ ot, ~??81 F f
dash and cash c~~ia~lcn - Deccrnhcr 31 ~,S ~,1 I~5,4~
leconciliakio~t of o~~rati~t~ in~omc to r~ct cash pravidcd Uscd~ b operating acI#vi~i:
pcrating inrn~loss ti ~,I~ ~~~,~4~
d~ustrnen to reconcile operating ir~eome ~loss~
t~ nck Crab flo~v~ from ~p~rating aetivik~cs:
Depreciation I 5?1,3
hanger ire apse and liabilities:
Decrea,~e ~inerease~ irr rei~rables ~7}~~~ - ~7']a~} Decrease increase in ir~vent~rie,~ x,$09 7,~~~
l~ccrcase ~inercac in prepaid C~xpen~es ~,4~ - ~?b~
Increase dereasc~ in pa}~ahles l 1
[ncrease decreac~ i~ accrued expenses 3,75
Increase (deerea~e~ in ace~e~ dcf~rred revenue - - l , ~ 0
Dther n~napera~ing inccrne 7,i I ~,?4~
Total adjustrt~cnts 149,E ,1~
filet dash providcci by C~pcraking ackivitic~ 7,07 1']1,4
~"hCr aec~mpan}~ing notes are an integral pars of these fir~anC~ial ~kakc~nC+r~ts.
4
~~~I1'~~~1~
B~~ir~c~~-T}~p~ ~tiviti
~j~r Ent~rpri~~ Fund, ~th~r T'~i~l
at~r sanitary t~rirr l.nt~rpris~ ~nt~rprise Int~rna] 'I'ot~l
~Jtility c~vcr I~r~i~~~ I~~nds F~nd~ ervic~ Pr~~ri~tar
1,~,1~1 ,~I,18 1,~1~,815 4I~,~ 1~,11~~4 - I,11~a4~
- - - - - t,~~~41 1,I~,~41
I~}7 ]~~,5 1 t,~7t ~4,1~? ,1~7~ ~~?1~~
C,t7 ~4,~~ ~,~~5,~'t ~8~~~ ~~1~,~1 ,1~I~ ?4~,I~~ i ~
~ - - - L i V V, V V V~ ' R Y Y~~ Y Y I~ ~ ~ ~ ~ 115?~~I~} 0 ~ ~ I y~~~~
41,74 1,~~,~1~ 1~0,~~ ~~,1~D,I~7
~3~,~I~} (4I,74 ~~~,17~ ~ ~1,~,~~ (~3~y~~}~ ~1,~1,)
l,l I4}~ ,~~0 10~#~ 1 t,~ 7~~,~44
1,1 ~ }4? I~,~] ~,~~0 ~ 0,~~ 151,E ~~,~44
4a44'~ 4~7,~ 70,E ~1,~~~ 1,87}~~ 3~~I~ ,~14,~~
~y~"T~,~~~ ►lUir~~U ~~#1 ~}~LJ ~~~~~~Jl~ ~1~~4~ ~~y~1y~►!U r ri r ■
1,~~,7 I,~4~,I0~ 1} ~#5#0~ ,~I,181~ 1,$~~,~ i
~]~y0~ ~1~#~~ 41,E 47a?~ ~~4,~3~ ~~y~~l
4,~~~ ~,~7~ 5,781 ,7~
4~47~ - 1 , ~ ~ ~BI~~ 14,E 1
l ~,~I~7 - - - x,71? ~ ,717
1 ~,~7 I~,$ 13~a533 1 I,571 X14,147 ~,7) 7~7y T~~51U ~LI?~~ ~,7 L,kJ~U,`7~ ~}V~~ ~J~5J,4~7
rarr
#I? 8~y1~ lylty~~ $,I~1 ,1,18 ,i~0 ~,4,I~~
Thy ~c~mpar~~ring n~t~s arc an int~gra] part ~f th~s~ financial ~tat~mnt,
TI~i~ page intnti~nall~ lift blink -
December ~ 1,
mote 1 i~~iVI~41~ F I~i~I~iT ~J1Ti1 i~LIi1~
The pity of ~rookl}rr~ tenter, lviinnesoxa (tbe it}~ was formed and ~perat pursuant t~ appli~~hle Minnesota laws and statutes. The governing b~d~+ c~nsist~ ~f a mayor and four Lily ~uncil merubers
elected at-large to serve four-~+ear staggered terms.
. l+ 111lL IP1~'I`Ii~1 LiVTIT
s required b accounting principles generally accepted i~ the [.lnited tate~ ~f America} e
pity's ~r~ancial statements ir~clnde all fronds ar~d dep~r~men#~ ~f tC~e twit and the pity's component
units. The component units discussed hel~~r are included in the pity's reporting entity because ~f the sigr~if carne of`their operational or f r~ancial relationship with the twit.
BI_,~il~~ MP~~1T tJi~1IT
Blended component units} alti~ouh legall}~ separate, are in ~~]b~t~~, part ofthe goverr~rnent's
operations; data fror~ these unfits are combined with data ~f the primary gpverr~mer~t.
~"hesc additional units are the Econotnio Ievelgprtlent uth~rily Bid acrd the Mousing ar~d
Redevelopment utf~orit}~ in and for the pity ~f Br~o~C~}rn eater.
The governing board for eaoh authority is the pity ~ur~cil. Tire ~ur~cil rcvic~vs and approves the MBA tai levy and the pity pro~vidcs major c~~munil development financing for and
H] activities. debts issued for and Hf~ activities are pity general obligations. Although
the E~ and I~. are lcgall}~ separate from the pity} #hey are reported a part of the ity~ because
the g~vcrning boards are the carne. ornplete financiaC stateruen for the EDP and HR may be obtained at the pity offices located at 01 hinle reefs ParC~wa~r} Brool~lyr~ tenter, Minnesota
~43~
JjT BTUE ~ J~I1TI~ 1~ElBi AIT11
The pity has several agreements vrith other entities that provide reduced cosh, better service, and additional benefits to the participan#. The progr~ns i~ i~icl~ tic pity participates are listed
belovr ar~d amounts recorded within the current }ear's fnancial statements are disclosed,
Laeal I~ovcrnmer~t irrf`ormationstems ~ssociatia~t ~L~I~
This consortium o~approimately~ goverment entities provides computcri~ed data processing end support services to its rnemhet. LI is legally separate; tl~c pity does not appoint a voting
~naj~rity ofitS baard: and the or~sortium i fiscall}~ independent ~fthe pity. The total amount
recorded within tine financial statements of the pity js 4, ~ t fir general services
pr~~rided, pion a~ in police sofvare applieati~r~ u~~rade~ all~~ated tv the various funds based qn applications andlor use of services. ornplete financial statements may be obtained at
the I~~i gffices located at 70 ~uloth feet, holden 1~alley, Minnesota 4.
ITI~ T~ FIl~4I~IL TT~1v~I~T
l~eeember 31, ~D~
Lapis in~uranc~ r~up
"his gaup provides cooperative purchasing of hcaltl~ and life insurance benefits for
approximately 4 governmental entities. The total of~~ l~ealti~ and life insurance costs paid by the pity was ~0,~ omplcte finar~eial statements may he obtained from Stanton group
located at 4~ nnap~li Lane i~lym~uth, innes~t~ ~~44~.
DTI-il The Brnnltl~rn eater Firs I~epartme[~t ]~Ii~f ~so~iatior~ the ssociation~
The ssneiation i~ ~rani~ed a ngnpr~fit ~rgani~ati~nf legally separate from tine pity} by its
n~crnbers to ~r~vidc pensi~r~ and ether bencfit~ to such members in accordance with I~ir~r~esota
statutes. It,~ beard ~f direet~rs is elected by the membership ~f tine ssoeia~tion and not by the
pity twauncil. Tire ~4s~~ciati~n is~ue~ i awn yet of finanei~I taten~ents, ill funding is conducted in accordattcc with a~plicahle finncs~ta statutes, whereby state aids flew to the
ssociationa tax levies are determined by the ~4s~peiati~n and are ~~r1y reviewed by tl~e pity. The
association pays benefits directly t~ its rnernlaers. The s~q~i~ti~n may cer#if tax levies to
~Iennepin oonty directly if ~e pity daes tot carry but this function. ~ecau~e the ssociatiorr is
fiscally independent of the pity, the financial information of ate ssoeiation has nit been included within the pity's finar~eial statements, {fee Dote ~ for diselosure~ reCating to the
pension plan operated b}r the ssociation: The pity's ~nrtion ofthe cq~t ~fthe association's
pension l,~cnefit is included in the General Ford under public safety. orr~plete financial
statements for the association nay be obtained at the pity fee 1~cated at hir~gle reel
Parl~~vvay, ~roolClyr~ tenter, h~iinnesota
B. ~~t~1~T-wl~ i~ FUi~ FII~III~ T'~iVI~I~T
The government-►vide #~nancial ~tatemcnts ~i,e., the statement of net assets and the statement of
charges in net assets} report inf'~rmati~n on all ofthe nondueiar activities of the primary
government and its eornpone~tt units, For the most par#} the effect of interfund ati~+it}+ hay heer~
removed from these statements. ~~~er~~rr~rerr~a! ac~~x~~~~es, ~vhi~h norn~all~r arc supported by taxes
ar~d intergovernmental revenues? are reported separately from ~r~s~r~~s-tyke a~fiv~t~es, which rely to a significant ex#en# ~n fees and charges fir support.
The statement of'acti~rities dem~nstr~►tes the degree to which the direct expenses ofa given
f`orction ar 6rsiress~tpe activity arc vf~`sct by program revenues. ~r'rec~ epe~ases are fitose #hat
are clearly identifiable wi#h a spif'rc function or business-type activity. Pra~r~rrr rever~~res include t~ charges t~ customers or applicants who purchase, use, or directl~+ benefit fr~rn ands,
services, or privileges provided by a given function or business-type activity and } grants and
contributions that ire restricted to rnceting t1~e operational or capital requirements of a particular
function or business type activity. Taxes end other items not included among program re~renue~
arc reported instead as general rever~~fes.
separate financial statements are pro~ridcd for governmental funds and proprietary funds, llria~or
individual governmental funds and major individual enterprise funds are rcp~r#ed as separate
columns in a fund financial statements.
IT' ~ B~fL1'i ~i~T'~~~ II1i~T
i~TE T~ F~~1lIi~ TT~~1~lT
iecernber ~
1[1~E11~iT F~1, B~ F ~~JI~1TI1 ~V~ FIl►1IY~ T~r~1viEiT
~~~ITTI~I
The q~r~rnm~nt-~tid~ fi~t~i~! ~ta~~m~r~ ~r~ report~~ u~i[~~ t~~ ~~ar~~rrti~ r~sa~rrces
rr~eas~lr~rrr~r~f~~~rs end the a~~~F~~a! b~~i,~ ~ a~~or~~x~i~~, as are the proprietary Fund financial
taterncn ev~nue~ ire recorded when earned and expenses are recorded when a liability i~
incurred, regardlcs ~fthe timing ofreiated cash 1~lows. property tars are recagni~ed reve~ue~
ire the year fir l~ieh they are levied. rants and similar items are reco~ni~ed reve~~e spon as all eligibility requirements unposed by the provider have been met.
overr~rnental fund financial statements are rep~r#ed using the cr~rr~rr~rrar~~r'a~ res~~rrce~
rr~~a~~rrerrrerr~oc{~s d the rr~~d~ red ac~r~r~a! basis o"a~ar~~rt~r~g, revenues are rec~gnied soon as they are bob measurable end ~~rail~ble, eve~ues are considered to be ava~~abie whey
the}+ are collectjl~le ~vithi~ the current period yr soon enough thereaner to pay liahilitie~ p~`tl~e
current period. I~pr tl~i~ purp~ea ~ government considers all revenoes~ e~tcept reirnhnr~eruent
r~ant~r to be a~railable if their are collected ~ritt~ir~ ~ days of the end of ~e current fi~eal period.
reimbursement gram arc c~n~idered available if they are collected within ore year of the end ~f the torrent #iscal ~eri~d. E~tpenditure~ genemll~+ are recorded wi~er~ a liabilit}~ is incorred~
under accrual accounting. H~v~ever, debt service ~xper~ditures~ as well as e~tpenditure~ related to
compensated ahser~ees and claim and judgments, are recorded onl}~ when payment is dne.
Property taxes, special assessments: intergovernmental revenues, charges for services and interest associated with the current fiscal period are all c~n~idered be susceptible to accrual and ~ have
been recognised as revenues of the c~rrc~tt f kcal period. r~l}~ tl7e portion of special ~s~e~mcnts
receivable die u~ithin the current fiscal period i~ considered to be susceptible to accrual revenue
of ~h~ urr~r~t p~ri~d. I1 other r~~+nr~ items ~r~ e~n~id~r~d ~o be m~asurabl~ and ~ail~~l~ anl~r when cash is received by the go~rcrnmer~t.
The go~rernment reports the fgll~wing m~j~r governmental funds:
Tl~e ~r~eral f ~rrrd is the ~err~n~en~?~ pri~nr operating fund. It accounts fir ~l l fnancia~ resources of the general gi~vernment} e,cept those required to be accou>~ted fqr in anotl~cr
fund.
The arl~ Bro~~,r ~'1F ~rs~rrct peer:! ~ev~~tr~e F`rrrrd has the authority to collect tax
incrernents which are rased for the hitgric restoration of the Earle drawn Farm and fir debt service payments of bonds ~vhictti were issued for the same prarpose.
Tits T!F' ~r's~rr'~~ Ido. ~ pec~cr! li~~ve~rr~e Frrrrd has tine authority to collect tax jncrei~en#s
which are used fir arii~us redcveli~pment projects within the pity and for debt ~crviee
payments of bonds which were i~~ied for the same purpose,
Tire Arai s~ses~r~~er~~ Bonds ~~b~ eri~rce ! ~rr~d is Wised t~ account for the accumulation of
reso~ircc~ fqr the payment of special assessment bond. Thee bpnd,~ were sold to f r~ance
cer#ain public improvemeri#s such as residential streets and storm sewers or the provision of services which are t~ be paid for whol I}+ or ire part from special as~e~~merrts levied against
benefited property.
CITY OF BROOKLYN CENTEF., MINNESOTA
MOTES TO FINANCIAL STATEMENTS
December 3 1, 2003
f ["h a Infrostruclure Cwwriection Capital Projects Fund was esta bl ish ed to acc ou nt for the
resources and expenditures requs red for the acquisition and construction of capital facilities or
improvements financed wholly or in part by special assessments levied against benefited
Properties.
The government reports the following major proprietary fund;
Tip e M unicipal L i iror I'rrnd accou nts fo r the Operats on s of th e C a ty's munic ipal of -sale
liquor stares.
The G a arrrse If Lard ace o unts for o p eration s of Cente rh rook G u l f Cou rse, a 9 hole par 3
course owned by the City.
The Carle Br oiiF r Heritage Center r and accounts for the operation of a convention center.
The Earle E rown Heritage Center is a pioneer farm stead that has been historically preserved
and restored as a modern multipurpose facility. Its convention center can host conferences,
trade shows, and concerts seating 1,000 people in either banquet or theater style. The facility
hosts many mec tings, parties weddings and receptions.
The water Ulifity P and accou nts fo r the provi s ion of water to customers. Ad ministration,
wells, water storage and distribution are included.
The Sanitary Seaver I# lard accounts for the collection and pumping of sanitary sewage
through a system of sewer lines and lift stations. Sewage IS treated by the Metropolitan
Council Enviro mncntal Sear i ces whose fees represent about 75% of this fund's expenses.
The S forin Drainage f'rrrrd aoc o unts for the operati on s an d i m p rovem a nts of th a storm Ovate r
drainage system. It incorporates not an ly the storm surer system, but also water structures
such as holding ponds and facilities to improve water quality. Fees are based upon the
amount of water running off a property and vary with both size and absorption characteristics
of the parcel.
Private sector standards of accounting and financial reporting issued p r i0r to December 1, 1 989,
generally are fbl lowed in both the gove mme nt -wide and proprietary-fund financial statements to
the extent that those standards do not conflict with or contradict guidance of the Governmental
Accounting Standards Board. Governments also have the option of following subsequent private
sector guidance for their business -type activities and enterprise funds, subject to this same
limitation. The government has elected not to follow subsequent private sector guidance.
As a general rule the of f c c t of interfund activity has been el i m i r ated from the government-wide
financial statements. Exceptions to this general rule are transactions that would be treated as
revenues, expenditures or e p ens cs if they involved external u rgan i zat ions, such as buying goods
and se or payments in lieu of taxes, are similarly treated when they involve other funds of
the City of E rooklyn Cc rite r. El i m s n at ion of then a ch arges wou Id d is tort the di rest costs an d
prograrn revenues reported for the various functions concerned.
4
IT ~ B1L~CI ~1Tr} IvIIlI~T
ATE T FIl1I~ TT~IiEiT
December
~►dditionall}~} tl~e ga~err~ment rep~r#~ a f~ll~wing fund type:
~r~f~rrraC ~r~~c~ ~"~~r~d account fqr e~mpensated absences, health pare ins~aranee benefits and central garage services pr~~+idcd to other departments of the pity on a cost
reirr~bur~~rnent basis.
amounts reported a~ rF~r~ni r~verrrres include 1~ charges to customers or applicants fvr goods
services, or privileges provided, gperating grants and contribution, and 3}capital grants ar~d contributions, including pceial assessments, Interrially~ dedicated resources are reported as
g~r~~ral rev~r~xr~~ rather thin program re~renues. I~ike~vise, general revenues include a!l taxes.
proprietary fi~nd~ di~tir~~ui~l~ ~per~t~~i revenues and expenses from r~orta~~~a~ir~ items. per~tir~g revenues and expenses generally result from providing services and producing and
delivering g~~ds jn connectjon Frith a proprietary fund's principal ongoing operations. ~"he
principal gperating revenues of the municipal liquor, golf course, earl gown Heritage eater,
water utility, anjtary sewer, storm drainage ar~d street light enterprise funds are charges to
u~t~mer fir ales and services. operating expenses for enterprise funds include tale oust of sales and ~ervices~ admir~istlrative expenses and depreciation an capital assets. X11 revenges and
e~tpen~e~ not mee#ing this dof nition are reported as nonoperating roven~aes and expenses.
Vl~hen bot#~ restricted and unrc~trieted resources are available for an allou~able uses it is the
g~vrnrnent' policy tq use restricted resources first, then unrestricted resources as the} are needed.
~~ET
Tie pity k~arter grants the pity council full authority over the f r~ancial af~'airs of the pity. The
pity tanager is charged Frith a responsibility of preparing the estimates of the annual budget
and the er~foreemcnt ~f #ho pr~visior~s of the budget a specified in the pity charter. [Jpon
adoption of the annual budget resolution by tho ~uncil~ it becomes the formal appr~~riation budget for pity operations. ill budget adju~~'ncnt~ must be approved by the council. budgets
for the general and peeial revenue Fundy are adopted on a bads e~n~itent with aecqun#irlg
principles generally accepted in the United rate of America. Budgeted expenditure
apprapriativr~s lapse at Fear end,
Enc~ambrar~ce accounting, under ~rhich purehe order, c~ntrac, and ether c~rnmitments fir the
expenditure of monies are recorded in order t~ rc~erve that ~~rtigr~ ~f the appr~priatign, i~ nqt
employed e pity bcean~e it is~ at present, not considered necessary t~ assure effeotive
budgetary c~ntr~l ~r t~ facilitate efFcctive cash management,
GIT I~ ~RGi~i ET~,I~III~II~T
iGTE TG FlAllI~ TATI~I1~1~F
December 1~ ~Ci3
L>~GL GhLIIE BUD~T
The pity follows these procedures est~bl~sl~in~ tl~e budet~r data refl~ct~d in a fin~n~#~1 statements:
1. in ugust~ the pity ~riana~er ~ubrriits to tine pity council proposed operating budgets fir
tl~e fi~c~l year e~~nmenein the f~llq~vin 1anu~ry. ~"he ~peratin budgets include
ependit~,res and a means of fnanc~n tl~ern. . The ~u~t rnail~ indi~+~duaC pr~per# tax rlgti~ sh~~'~n the t~~ces that ~r~uld result
fr~rn tl~e pr~p~~ed budgets ~f~1C t~ln units rah property owner irr o~+ernber.
. Public he~rit~s are conducted to obtain taxpayer c~rnrnents.
4. The l~ud~ets are leaCly enacted wilt the ~~ae ~f res~l~tt~~r~s b the It pupil in the
month pf December. Tic pity ~uncil must authpri~e any tran~fcr pf budgeted n~unts between depncnt~
vrithin the general Fund. transfer of budgeted amounts within individual de~arhmen#s .
must lie au~hori~ed by the pity ianagcr.
upplcmental appropriations during the year may ~n[y be made b e i pencil. These amounts must he financed b funds from ~c contin~er~cy re~cnre set up in the
general Fund or ley additiar~al revenues.
All budget amounts lapse at the end o~the ~+ear to the extent they f~ave not been
expended or re-encumbered b pity council directive in the fnllqu~in ~sca! year. .
l~. Formal C~udgetary integration is employed as a mar~aentcnt cantrpl d~vi~ during the year fir all governmental funds ~vidt the e~tcepti~n pf debt service Funds and capital
Project Funds. Formal budgetary interratjon i npt crnp~pyed fqr >ebt service funds
C~ecause effective budgetary control is alternati~rely achieved thrpugh general pbligatipn
bond indenture provisions. ~udge~ary control fpr ~piC Prpjects Funds is accomplished
#hrough the use of project contrpls aitd ~rpject,len~th budgets. budgets are adopted on bans consistent Frith accquntir~g principles gencr~lCy ~c~~pted
in the lJni~ed states of Arncrica. Annual a~prppri~ted budgets are ad~pt~d fir all
governmental funds excc~t fpr the pro~cct-length ~pit~l Prpjects Funds ar~d i~ebt
service Funds.
ilk. Budgetary control is maintained a~ the department level fpr the General Pund and at the fund level for all other gnverrrmcntal funds that adept ~nnu~l budgets.
1 i . Budgeted amounts are as priginally ad~~tedf pr as ~rn~r~ded by the pity vuf~cil.
individuaC and aggregate aend~ncnts vrere npt ~nterial in relation to the original
apprp~ri~tipn~.
~~1Gi~T >i,il~
For the dear ef~ded December ~1a X03, expenditures exceeded appropriations of the ~cpn~rrric
i~evelvpment utiror~t and G1 inatlatl~res Grant special revenue Funds ley 7,077 and 4,91 ~ respeetivcl~r.
ITC ~1L~1 ~~"R, l~1~1~T
Tl: T~ FIl~1I~ TTI~~1T
December 3l a
,~H AII~ IE~'1~I~iT
ash balances from all funds are e~rrybincd and invested to tl~e cunt available in certificates of deposit, ~ve~rmen# ~ccuri#jes and other securities authorised by state statute. Investment
ir~oome is allocated t~ the re~peetive funds orgy the laasis of applicable ch balance participation by
each fund. Investments are stated at fair value, based upon quoted market prices as of tine balance
sheet data. Investment inevrne is accrued at the balance sleet da#e.
The pity provid~~ ten~p~rary advances to funds that have insufficient cash balances by means of
arr advance from ether fund spawn as interfund receivables in the d~ranoing fund} and an
irrtcrfund payable in the fund with the deficit until adequate re~~ure are received. These
interfund balarMCes are eCirninated ~n the avernmer~t-wide finan~i~l statements.
For purposes ~fthe statement of cash flows the pity considers all hi~~ly liquid ir~vestrr~ents Frith a
maturity ~fthrcc months or less when purchased to be cash e~uivalcnts. ~►ll ~f'the oash ar~d
investments allocated t~ the pr~prict funds have ariinal maturities ~f ~ days or less.
Therefore tl~e entire l~alanee in the I~ropriexary Funds are considered eh equivalents.
I~~IBL~ ADD P,4,4~~E
~uri~rg the curse of operatiar~sa numerous transactions occur between individual funds far goads provided qr services rendered. short-term interfund lvar~s are elsified as ``interfund
r~eceivable~lpayabfcs.'# All chart-terra interfund receivables and p~yables at l~ecerr~ber ~ 1, llll3
are planned to b~ elimir~atcd in Q04. Lang-terra interfund loans arc classified ``ir~terfund foar~
receivaC~lelpayable.'} Any residual balances outstanding between tl~e ~~verarrYental activities and
business-type ~cti~+itics are re~or#ed in the government-wide financial staterner~t "internal balances.'}
property takes end special assessments have been reported net of estimated uneollectible accounts.
ice Note l and t} because utility dills are considered jiens on propertyf n~ ti~n~#ed
uncvllectible amounts are e~#aC~li~l~ed. t`]r~collcctible amounts are not material for over receivables and nave not been reparte~d.
. ~1~~T TALC REEIJ~ II~YTI
The pity council annu~ily adopts ~ tai levy and certifies it to the our~ty in leccmber
~lev~assessment dated of each year fir cplleeti~r~ in the following year. The bounty is
responsible for laillin~ ar~d cvlle~tir~g all property tae fir itself, the ityy the local school [district
arrd other taxing authgrities. such tapes become a lien on January 1 and'are recorded as receivables by tl~e itjr at that date. deal property taxes are payable Eby prppert owned on iay
~ and etober t of each calendar year. Persona! property taxes are payable b t~~aers an
February l~ and June 0 of each year. These taxes are collected by tine bounty and remitted to
the pity on or before 3uly ~ and i~ecen~ber ofthe same year. I~elingt~ent collections far
ovcmber and December are received the f`ollo~vin~ January. The pity has no ability to enforce payment of property takes bar property finer. The ot~r~t possesses this authority.
I'CI' F ~L1 T, lIl~l~~T
ITE FT11~ TT~~rI~T
I~eeember 3], 00~
El?~1~1~`-1Ii~E FTI~I~I~itL T~"Eh~il~iT
The pity recognises propert~f ~ rev~~rue irr a period for which ~e taxes were levied.
[~rrcollectible property taxes arc nit m~teriaC and ha~rc rrat been repnr#ed.
E~iE~]T~11 FL1D FI111~►L TT~1~1T
Tire pity re~ogni~~~ property ~ reverr~e v~hen it becomes both measurable and available to
finance expenditures ~fthe ~urrcnt p~eri~d, In practice, current and delinquent tapes and state
credi#s received by the pity in July, ~eember and a~uar are reeoni~ed as revenue fir the currcr~t year. 7'~e~ eglleeted by the aunty by December 1 remitted to the pity the fallou~ing
Jarruary~ and taxes end ~rcdit nit reeei~+ed ~t the year end are cias~ified as delin~uerrt and due
from ou~rty taxes receivable. The p~rti~n ~fdefinquent tie nit e~ilected by the pity irr
January are fully offset by def erred rev~~ru~ b~eaue th~~r are nit available t~ fi~~nee ~urren~
ependit~re~.
1VIT VALUE Ii11~~T~~
property taxes on residential agricultural h~~n~s#e~d property ~ d~fin~d by tt~ statutes}are partially reduced by marl~ct value l~omcstd credit IPI. This credit is paid to tl7e pity by
tiro eta#e in lieu of taxes levied against l~ome~tead property, The Mate rer~it thl~ ~rcdit through
ir~stallmerrt~ each year, Tl~e credit i~ r~cogni~ed as re~r~nue by the itjr at the time ~f c~llecti~n.
The pity has recorded this whir pr~pcrt tax r~vcnue.
peeia[ a~~e~~ments are levied against benefited pr~~erties fir the cq~t qr a p~rtiq~t ~f the cyst ~f speei~l ~e~s~n~nt impr~ven~e~rt projects in ac~rd~nee ~vitC~ t~t~ t~tut~~. The~c ass~ssmerrt
are cu~lectible by the pity over a tarn of}~cars usually ~nsisterrt with the term oftire related bond
i~~~e. vllceti~n ~f an~tu~l installment ~incind~~r i~rtere~t i~ handled by the ~u~t ,4~dit~r in
tine ~am~ manger as pr~Ae~y ta~te~. Pr~pe~y ~vwrner~ ire ll~wed t~ {end yen d~ prepa}+ future
installments itl~~ut intent ~r prepayment pen~ltie~.
knee a special ~es~me~tt rill is d~pted, the ~rn~unt attrtih~ted t~ each parcel i~ ~ lien up~rr that
property until full payment is made or the amount i~ determin~~ to be ~~ccessivc by the pity
council or cuur# action. Ifspecial assessments are allowed to go dclinqucn#, tiro pr~pcrty is
sobjcct tv tax forfeit sale. Proceeds of sales from tax forfeit properties are allocated first to the ourrty's costs of adrr~inistering all tax forfeit properties. Pursuant to #atc tatutesr a property
sl~~ll be subject to a t~ forfeit sale aver ttrree years u~lcs~ it i~ lr~mestead~d, agricultural or
seasonal recreational land in wiricir event the property is ,subject to such sale at~cr five years.
1~~C~"f-~~ ~"lll]I~ '1~TE~T { _
Tf~e icy recognises special assessment re~rcnue in the period that the assessment rill v~a~ adapted
by tC~e pity aurreil. [1rre~lleetjbie speeiaC assessments are rr~t material and ha~re nit C~een
reported.
I~1TE T ~III~,itwll~ TT~l~r1~T
December 1,
DE11~1T~4L FCI t~'lI~l1~iIL TT~I1~IT
lcvenuc ~`rom special s~mcnts is rcc~gmi~cd by tine pity when it becomes measurable and
available to finar~cc ependitnr~s ~fthe e~rrent fiscal period. In practice c~rrcnt and dclin~ucnt
special assessments received b e pity arc rcengnid as rcver~ue for the current year. pccial assessme~rts that r~ c~llcctcd by ~e gun by December ~1 {remitted to the pity the #`~llain~
January}and ire alto rcc~~ti~cd as revenue for the current }year, ill remaining delin~uent~
deferred and special deferred assessments receivable in governmental funding are completely
of~`set b}+ deferred re~rertues.
1~1'D~I~
EItI~lTL I~Ui~ ~'h~ primary ~o~rcrnmcnt does nit maintain material ameunts of inventory ~vithin a utl~er
go~rcrn~nental funds. Inventories of gor~ernmer~tal funds arc r~~rd~d ep~ndit~r~ ~vh~n
consumed rather ti~an wl~er~ purchased.
~1D1~III~T li ~I~ Inver~t~rics in the pr~prictar funds are valued at costa using the ~v~i~ht~d ~v~ra~~ rr1etl~~d i~r tine
ll~unicipal f,igaor I~`and and the first-inJ~irst-gut ~FiF methed in the other proprietary funds,
The c~~t~ ofavernmental find type supplies are recorded as expenditures when purchased.
I~ PI~E~iI~ ITS
ertai~r pa~n~n# to venders reflect costs applicable t~ future acc~untir~~ periods arrd are recorded
as prepaid items in bath government-vride and fund financial statements.
I.x. P1TI~ ET
capital ~s~~t~a ~vhi~h i~tcCude pr~~crt~ ~lant~ equipment and infrastructure assets ~e.g~~ raadsa bridges, side~valiCS, and imilr itern~~ ire re~~rted in the applicable go~rerrunental ~r business-
type activities columns in the ~~vernment-~~ide financial statements. capital assets are defined by
the ~~vernme~t ~e v~ith an initial, indi~ridual cost of more than ,OCICI amount not reunded~
and an estimated useful lift in excess of ene year. uci~ assets are recorded at historical test or
estimated historical cost jf purci~ased or conskructed. l~nr~ated capital assets are recorded at estimated fair marl~et value at the date of d~natian.
The cysts ofnorrnal maintenance and repairs that du not add to the value efthe asset or materiall~+
extend assets lives are nit capitalized,
ll~a~or outla~rs for capi#al assets end improvements are eapEt~lied projects ~r~ ~ans~t~d,
Interest incurred during the cur~straction phase ofcapital assets of business-type activities is
included as part ofthe capitalised value ofthe assets ~~nstructed, For t#~e gear ended December
~1} ~~3r no interest was capitalised in connection vrith construction in progress,
~T ~F ~i~ ET~a III~~T
T FI~41tw1~4i~ TT~~1~lT
De~~mber la
Property, plant and e~uipmcnt of tl~c primary government, as ~vcll as c component u~i#f i~
depreciated using tl7e straight line method over tl7e following estirr~atcd useful lives;
Paved streets years Water and seWCr rnair~s ar~d lines years
~uildir~gs and structures years
Water wells and storage tanik.~ ~ years
ever lift tation~ ~ ycar~
street lights and tlraftic lights 1~ years
Iviachinery and equipment 5 -1 years Departmental equipment years
l~ 1~fP~1TD ~~1~E
It i~ the it` policy to perrrrit err~pl~yees t~ acc~trnulate earned bit ~nu~ed vaeati~n aitd ~iel~ pay
l~er~ef. A1C ~+acatior~ pay is accrued in the internal service fund fin~nci~l ~t~teme~tt~. liability
for these amounts is rcp~rted in gover~rriental funds only if they have rnatureda fir earrYple, a
result of employee resignations and retirements. In accordance With the pr~vi~i~n~ ~f tatemer~t
of overnmerrt ccountir~ standards Igo. ~~a ~4cc~~rr~~~r~or or~~p~r~s~~~bs~rr~e~F n~ liability is recorded for nonvcstir~g accumulating rights to receive ic)~ pay bene~#~. H~v~evera ~ li~bilit}r is
recognised #"or that portion ~f accumulating ic1~ leave be~tefit~ that is vc~t~d a~ sev~ranCe pay.
i. ~-T1~ ~~iTi1
Ire the g~~rernn~ent-pride fin~tcial statenenn and pr~prictar fund types in the fund firraneial
,~tat~ment~, lug-term debt and ~t~er long-term obligations are repor~cd a.~ liabilities in the
applicable g~vcrnmental activities, business-type activities, or proprietary fund type statement of
net assets. fond premiums and discounts, as well as issuance costs, are immaterial and arc epen~ed in the }rear ~f bind i~~uan~e.
In the fund financial ~tate~ncnt~, g~vern~neutal fund types recognise bond premiums and
di~c~u~t~, ~vel l b~r~d i~uanee c~,~ts, during tl~c current period: ~11e face amount of debt issued is re~or#ed as other financing ~~urce, Premiums received on debt issuance. arc reported
as ether fir~ancir~g ~~urcc~ vrhile di~cpun ~u debt i~uances arc reported as other financing uses.
Nuance c~~t~, ~vC~ether or nit withheld from the actual debt proceeds received, are reported as
debt service ependiture.
i
In a fund ~r~aneial statements, governmental funds report reservations of fund balance #"or
amounts riot appropriable for eperrditurc or legally segregated for a specific future use. i~~sigrratcd fund balances represent tentative plans for firtorc use of financiaC resources.
i~ecernber 3
P. 11~1'~'"IJ1V~ T~1TII~i
Interfur~d services pro~ide~ and used are acaunted f`~r as r~ven~les, eper~di#ur~s or expenses. Transati~ns ti~at ~~nstitute reimbursements t~ a fund for e~pendituresfeper~ses initially made
from it that are pr~perl}~ applicable t~ another ful~d} are recorded epen~ituresfepenses in the
reimh~arsin ~`und and as red~et~Ons ~f ependitureslexpenses in tine fund that reimbursed.
Interfun~ loans are repOr#ed as an intertund loan receivable ~r pa~+able which offsets the
movement ~f rah iaete~n funds. X111 ~th~r interl~und tran~aeti~ns are r~p~r~ a #ransfer~.
U F E'~IIA'~~
The preparation ~f ~ir~aneial ~tatement~ in aecOrdanee v~ith generally accepted aecountir~ principles AAI~) requires rnar~aernen~ t~ mare estimates that af#"eet am~ur~ts rented in the
financial statements ourin~ the repOrtir~g period. Actual results eO~Id differ from such e~tirnate~.
. 1~~lTY ~ R~1lV1ET-~'VID~ AMID F~II►lI~ F~ii,~~
T'~~1~1T
1. EPI~N~'iN ~F ~IT1N ~II~FfE ~~TIEEN'I~1~II~ r~~11~fNiI~1TAL
F[~N~ ~GI~ I~IEE~` NI THE ~ll11I~N~'-1II~ 'fA'~l~h+I~T ~F NET AET
Tl~e ~~vernmerrtal fend balance sheet includes a ree~ncilEati~n bet~veenrr~d ~c~~a~r~e L ~~f~!
o~~r~r~r~t~~r~a~rr~r~s and rr~~ as~~~s overr~rr~err~a~ ac~~v~~res as re~ort~d in tine ~~ve~rnent-
. pride statement ~f net asset. one element ~f that r~nniliati~n ~x~lair~s that ``l~n,t~rm liabilities, ir~cludir~g binds pa}~able, are nit due and pa~+able in the ourrent ~erigd ~n~
ther~f ~r~ are nit reported ire the fund~.'~ Thy details ~f this 1?,p~,~ dil~`~r~n~~ are as
f~llo~vs:
Fonds parable 1,~~}000 Accrued interest pa}~able 7}~
Net adjustment t~ reduce fund balance - total
~~verr~mental funds t~ arrive at r~et assets -
~~~rernmer~ta! activities 17,0~,~~
iw~rl` ~l~I~Ii~ EITEI~,1Vii1~il~E~`
lTE T 1~1IIL TTEIET
D~e~rr~ber ~ I}
E~L~►I~TI~I ~F EITiI I~iFFEREi~~ ~ETIEE THE ~EI~riEI~1TL
~[~1~ TTEF~1T ~ IEEIUE, EP~II1Tl~IE. III H1 F~
~~L~ i~ THE ~EiiiE1T-~l~E 'I~ATEiET ~1~ T1iTIE
Tie gv~ernmentai fund ~t~tement ~f revenues, ~xpen~itur~s~ ar~d ei~anges in fund balane~s
includes a reeoneiliati~n b~twe~n r~e1 clr~r~es err rr~d ba~arr~~~ - ~a~aCgav~rr~rr~~r~~aCrrts
ar~d c~rarr~s ~ ~~~I a~s~~ o"~v~rr~rr~er~~a~ ac~~vit~es as re~or#ed in the o~+ernrr~ent-amide
statement of activities. one ~l~men~ ~f that rec~neilla~inr~ explains that #{evernrnental funds r~p~rt capital vutla~r~ ~pend~tur~s. 1-I~vxr~r~r~ in the statement ~f a~tiviti~~ the ~~~t
those a~s~ts is all~ated ~~+er their ~stlmatcd useful lures and reperted as depreciation
exper~se.'f The details of ti7i~ ~ differ~ne are as follows:
capital outlay 1,7,441 Depreciation expense ~1,~?,I7}
het adju~~ent tq increase net eC~anges in fund
b~l~n~e~ - total ~vernmer~tal funds to ar~i~e at
changes in net assets of`gaverr~rr~ental activities
another element gfthat reconciliation states that #`levenues in the tatemer~t ofctivities
#hat do Prot provide current f nancial resources are not reported as revenues in the funds.'r The
details of this 4~}7~ ~il~`erene~ are as f~ll~u~s:
general Fropert taxes deferred r~v~nue: ~t December ~I,
. t iceember 1, I,
Tex ir~crernent taxes deferred re~+enue:
~ Deccrr~ber ~ I, 0~ I4,?1~
t iecer~ber 3I, ~~3 ,47~
special assessments deferred revenue:
t December 1 } 4,~ $ f l 71 }
t December 1, ~1~ ,~I:47
ether deferred revenues:
t T~ecernher 1, ~ 4,~ ]
t December I r ~,4 ]
I~,lct ad~u~trr~nts t~ decrease net ehan~es in fund balances -
total go~rcrnmcntal funds to arrive ~t changes in r~et
sets of ggvernmental aeti~+ities ~40,~?)
ITI~ B~V E~Tl~,1~1I~IET
T~ T~ FIIG TT~E~"
December 3I,
Another element of that reconciliation states that "tire issuarroe of lore-t~r~ ~~bt b~~dsa
Icac~ pr~~rldes cirrent ~rrancial resources to go~ernmenta~ ~ur~ds, while the repa~+rnent of
principal ~f the long-term debt consumes the ourrent financial resour~~s ol~`go~~rrrm~ntal n~~.'' either trransaction~ h~v~ever, hay an}r e~~ect on r~et assets. Tine details oftl7is
,~t,0~~ di`er~nce are as ~ollo~vs;
l~c~t issued ar incirred:
Issiance of general improvement borr~s ~,O~,~oo~
principal ropay~ments: general ohligatiorr debt 7~,~41~
general i[npro~~m~~t bonds
Tax increment bonds 1,~,0~~
het adjustment to irrerease net changes in
find balances -total governmental finds to
arrive at changes irr net assets ~f ~vcrnrnerrtal acti~ritjcs ,~l,o~~
tnt~ D~~~` ~ 11~11~~T1~1~T
i~E1~1T
In nee~rdance ~vith Minnesota statutes, the twit inraintairrs deposits at those depositary bad
authorised b~+ the pity council. X11 such depositories are members of the F`edera! leser►+e ~rstem.
Minnesota tatites requlre that all Cty dep~srts be protected bar insurance, s~ret}~ bond, or collateral.
The market value of collateral pledged must equal 1 ~~°4 ofthc deposits rrot oo~rered 6}~ trnst~ratlcc or
binds.
ithorized collateral includes the legal investments described belov~, a,s v~ell as pertain first mor#gage
notes, and certain other state or local government obligations. lviinnes~ta statutes require that
securities pledged a,s collateral beheld in sa~e~eeping bar the it}~ Treasurer or in a f nancial institl~tian
other than that furnishing the collateral,
1T~ F ~ ~iTER~ i~i~T~t
T>1 T FIi~►ItL ~'T~~IT
Dc~ember
~alanees at i~eccrr~b~r 3 U~ are as f~l~a~vs:
harrying ~ar~k
n~a~ant Balance
Insured ar eallatcralie~ bar securities l~cld b the pity
ar its agent ire pity's na~rr~, ~1,~ ,
Ella#er~li~~d with ~ecuritie~ h~Cd ley the pledging
ins~itu~ian trust department in the pity's name. - -
3~ [.1r~callaterali~~ or e~li~tcrali~ ~viti~ se~uritie~ nit in
the pity's rram~.
1~1t~TE1~1'l~
liin~esata statutes ~uthori~e the pity to in~+est in the f~ll~~rir~g:
I~ireet abliatians ar abligatian~ guaranteed bar dte [Jnited states ar its agencies, its instrumentalities ar argani~atians erected by an act of cangre~s, eeludi~ rnor#gage-backed
seeuritie~ defined a~ high risk.
b h~re~ investment e~mp~tie~ regi~tere~ un~~r tine Fed~r~i [nvestment ~n~pan}+ pct of 1 4U
d whgsc anl~r ir~estment~ are in securities de~eri~cd in {a ~b~ve: general ~blig~ti~n tax-~en~pt seeuriti, ~r repurchase ar re~rer~e repurchase agrceme~ts.
~ erter~l pbligatigr~s of a State ~f I~rlinr~~~~t ~r any ~f i#,~ unieipalities.
d ~attkers acceptance of United states banks eligible far purchase ley the ~'edcl escr~re S~r~tem.
~ ammereial paper issued bar lJnited states cerperatian~ ar their adian subsidiaries, of tl~c
highest alualit}~} arrd maturing in days ar [css.
Iep~rel~ase er reverse repurchase agreerncr~ts with banks tl~~t ire mernl~ers ~fthe iweder~! Reserve ~rstem vritl~ eapitaliratian eeeeding Sl~,~~~,~~~a ~ primary rep~rtin dealer in government
securities t~ the federal Reserve Bank ~fle ~'~rk; ccrtai~ Iviinne~~t~ ~ceurities brayer-~eal~rs;
ar, a bank ~uaii#ied as a depositor,
4
},~1*~1~+~++~+ ~~f{~i1i~ ~+~l+~yl~illl~lti 1`~ 1 i~~7 1 ~11V#1~`i~l~ i 1
December I~
balances at December 3 0~3:
arryirrair
u~t~~i~1 r~dit ~i~1~ ~t~~ry ~luc ecuritte~ T}+~~ 1 n~our~t
Federal aer~cics ~ 1, ~ - - 1, 1 f~
T~t~l~ 1,~ ~ ~ 31,x] ~}0
Inve~tmlr~t ~~~1~ 3,,
~cposits
Taal deposits and in~+estments 3,4'],~~4
Petty cash and char~~e 4,37
Totals 3,~1,
Thy it',~ ir~~estmen~ are ategori~e~ above to dive an indication ofthe lure! of custodial ~r~~it ri~}~ a~sume~ at ~+ear end. atcga~r l includes investments that are insured or ragist~red ~r #'qr which the
securiti~~ are held b the i# or its a~er~t in the pity's name. ateor includes Uninsured std
~nrci~tcr~d inv~~ents 1~`or ~vhic~r the securities are held bar the cour~terpart~+'s trust departme~tt ~r
aunt in the i'~ name. ate~ory ~ includes uninsured and unregistered in~+estmen fir ~ic~ the
scc~riti are i~~l~ by the counterpart or by its trust departlner~t or agent but riot in the it's name,
i~t~ 3 REEIABI, 1
izttfic~nt re~ivables balances not expected to be collected vrithin one year ~f D~c~rrtb~r ~ 1, ~4 are as f~ll~~v:
?~Saior Fins ~u~c T1F 5pai:l ~pccul
fkm~~~IF ~S Jl~r+c~s ~4'~~r 5~ni1~• Swim Naam~jnr C~+rral l?i~ict Na.3 H~dj Co~ructiaa L~CIIIIY 5ttirtl ~Qtaias~ Fps To~.al
Sdcnt~RCCix~blc ~ - ~ - ~ - ,~~,~g6 $~4S,b?b ~~ls,~I~ S'.,,3~# 5~,41d S t~,79#,ab?
Dcliaquen~~r~p~c~irls~et 71,~4~1 ~ i~,~9~ tl,llbU `D_cl_i_nqu~m ~~'+fnc~rrrn~ ~y - lIb,3S~ 1767$ • • } } _ .~y +y ?46q~,4~+5y1
LA}]9 ttQ~lYh~~ IO~,Q74 } + a + ~ IOO,W~II i L.L7~{i #i
~176~3~ SL16,~SG ~17~,b~4 S~.3aQ,~4~ $~~~,4,~4 ~IX~.2S~ $2,3~~3 ~S,914 i~,1~3~~9 ~5.~~9.~~~ ~ 4 ~ ~ ~I~
~T F ~l~~L EiT~R, i[I~ET
I~TE T~ FiIii~ ~'~4TE~vfl1l~`
f~ecerr~ber 00
governmental funds report deferred revenue in o~nn~tinn ~rilh rooei~+ablos for ~even~es that are not
e~~tsidered to he available to liquidate liabilities ~f the ourrcnt poriod. governmental funds also defer
ro~renue roooni~ior~ ire ~onr~etivrr with res~urn~ that have be~r~ rooeived, bud riot yet earned. t dte end of the ourrent ~soal year, the various ~~rnp~nent~ of dofarrod re~+enue and unearned re~~nue teport~d in tho
governmental funs ~vl4re f~lll~~rs:
Unavailal~l~ ~]n~arn~~
l~~lin~u~nt pr~~`~~' laxe~ r~e~ival~re ~~G~nernl ~'und~ ~4],3~4
~linyucnt 1~ru~Y taxis r~~l~ival~le ~pe~ial Ar~~~sm~nt 1~land~) 1~,~7 -
~~linq~t~nt property tans r~~ava~1~ (I~~n~aarar Tu>tl) }~4
D~linqu~nt tax in~tern~nt culle~tinrr~ ~~ari l~ro~vn T11~ ]istri~t} ! l~,$~~ - Deliltqu~>t~ tax in~tern~nt eull~ctsons ('!'l~' f~i~tri~t -
~i~ ass~ssm~n~s nit ~re~ ~u~ special A~s~s~ment hands} ~,~~~,~47 -
cia! a~~~~sm~nt~ not die (p~eial A~s~ssm~nt ~r~struction~ ~9~,~7 -
ra~t dra~~~d~~+ms pnl~r to ~n~eti[~g X11 ~li~il~il~~~+ z~quirerry~>t ~I~ttn3ajnr ~unds~ - 1 l"~cs r~c~iv~d but un~arr~~d ~~ltlrr~l Fnnl~~ 7I -
~e~s r~ceiv~d but unearned {Special ~~~s~mcnt or~~t~u~tion~ 3F3~
'f~ta~ ~~f~rr~dlun~arncd r~vcn~a~ fur ~uv~rn~n~ntal fund 4,~~7~~ 1~,~~
l~Cote ~ ~ITI1 E~'
capital asset activity for tl7e }year err~e~ ~~oembet 1 f ~reviqu~l r~~~rted f~1C~~:
~ginRirog bl~ 1n~m~I Fading
Pnm,r~ Crnm~t BSL~acc ~ ~ Ecd Srn'ie¢ Lacrtxsts D,rcnexsc B3]3aac
~,oti~~tfl sttiti~Ci~' C~pi~l . ~t bring d~preciucd; i
~ALlti4UL~4L5171 p14~RSi 1,1~4'~66 } 1.150,E t1,IS0,~~61 4~T.d ,
~~i~pil~lssnalb~i~~epte~trd 396,44# • l.1S~.~o6 ~.4-5,314 a 927,[x24 ~1~~5,346~ ~,131~33
its S ~mi3ls~ i3uildin$s ~u+d ir~p~~+~asts 46~Zi,~74 - LE~2~,4'~4 L6E,62E 13,{r9~~34s
P~~im~now~mrnts ~4U6,1~1 2,~6,x~11 3,~~a $,944,~~1 Dcg~rl~~tslQgvi# x#5,746 - 3~15,7~6 #,~L6,S?3 ~9,69~ G~1~412
sv~cts 16.~45.~~1 ~b,E{S,b~l 1,a71,37T 11C,71d,~i4x T~#sl~ril~I+u~#s.6~in~d~Pt~i~lod 2I,7~d,957 16.E~1~.b21 ~E,b?7~75 S,EIb,~73 2,U43~16 ~ ~~r~32~~r9
l.~t scrumu7~ttd dtpr~asGaa iar.
Eluildingsandimp~is 36,652 ~,94E,652 - 65~~9} - 4,G5~4~ ~srktmpr~'anrnts I.G~~,G6l1 1,~i~, 115,~1~ 1,7d~,x~6
D~putm~W sq+~pm~l 174,411 14,4.11 3~73~4~ 2E,5E1 - 3,T7d,9di } 7,4E1,46~ 7,4~1,4bS 74E,6e4 3,7~a,14~
7atslsxumr~cddcprt~i~tioo ~ i~.79~,a~6 13,796.a3~ ~,57a.~4~ 1.Sa],ir~ 4 1E,9~4~41
Taal sxpattil sl3C#f bcing dCp~a~tod * IrG4 ~1,77d,457 3,4#G,795 74,E73,7i~ 2,236,334 ~-5~.4~1s Q ~7,~4iC,l~a a r ~ {
Gatirmm~il~cG~~ilieiGl~itSl.3twtli•8C! ~S,47S,Sb1 #a,147~Q1 5~9~73,462 3E,~3~ ~1.47~,675 ~l~ ~}1,739.661 ~ ~ ~ ~ ~ ~
iTE T ~I~4IL TTE~I'
I~~~~mb~r 1, ~~3
f3cginning ~ndin~
Primary orcr~mrr~# Balance lncr~as l~ccte Bal~nec
Business-type a~~ivilles:
~a}}pi,~,~,al a~s~ct~, nut being d~~rrcci;~l~cl: (~yy ~~yy 11{~~} yy loll l~ 3~ 1 7~}3~L - ti7 - 4 7 r F3~IF
end impr~v~ments 3~~.~88 -
Total capiS~l asl~F r►~t beir~~ deprcciatcd 3,~5,~3~ 4 ~
~pilnl e~ being deprecia~cd:
~ uilding end irnp r~vement~ i 7,3~~,~~4 ~G,7 ~ 4 - 17,9,E?$
~cpar~mcrt~ equipment ~17,~~~ - - 17,~~~ 1~V~3il3S and 1 ins 37,1 7,7G $ - 38,141,67
Total capital as~el~, ling ~3~pr~iated 55,104,27 1,Q54,41 ~ ~ 56,164~~
t.e ~~~urrrulated de~reciati~n for:
~ui2dings and impr~vcrncr~is ],~b5 753,484 - 5,274,$45
Dc7p~.'aYlr~....llLmyi'c(]n1t ogAAAuspmcn[ y1 fJ~ ~~1f~'~1,9~ff~~f7 1 jJ~~6,678 - 1}8}1~,~~4/}~~7{
I~a~n~ Wl1F 1~~ i ,5~~Y5~VV !5 T~~~~T~ ]~~~Y.l~y~ rY Total accumUratcd dcri~iati~n 19i~94i~~ ,76,170 4 21.371,465
'Cota! capital a~ la~ir~g c~~~reciated - r~et ~G,40~,~42 (1,2.157) 0 ~4,78~,~85 ,
l~usinc}ty ~~~ivities pital assets -net X9,574,772 (1,2~6,157~ 4 ~8,34$,G 15
I3epreei~ti~n ~~pens~ was har~~d to fur~~~i~r~~~pr~~rarrts of the ~rimat~ g~v~rnm~r~t a f~ll~~~rs:
~v~rnmt~n#al a~ti~+ities:
~n~ral go~r~rnm~nt ~
~ubli~ safet~r 3,43
Pu~li~ uwr~rks ~~,5 ~mm~nity servi~s la~4
ParlCS and r~~r~ati~r~ 11}~
capita! assets held by t>~~ ~~rernments internal seri~~
funds a ~h~r~ed to the ~+arious functions based ~n their
usage ~fthe assets ,7~
Taal depre~iati~n ep~n~~ - ~~~~rnmcntal activities ~1~~,']~
l~usincss-tA~ aetiviti~~~ uni~ip~! ligtlpr fund
~1f c~ursc fund 7, 1
Early Br~t~ l~eritag~ eater Fund ?1,~
~Uater utility fund ~8}i I~
sanitary ~c~ver end 479,33
t~rirt drairta~~ fund ~i3,0 Taal dcpre~i~ti~n ~xpensc - business-type activ~itics 7~
1TE T ~~~►1IL T'~~1T
i~eember ~l,
I~ITIL~~;`i"iI 1ivtlTlvi~E'I'
t ieeerryb~r 1, i~i~~} the pity had e~nstruction project e~ntra~ts in pr~gre~~. ~'hc commitments rclatcd #o the remaining contract balances are summarised as f ~l~~~v~:
I~ar~tract >cmainir~g
~ro~ee~ ~ ~t~~ect rnourrt ~rnmitrnc~~
~~TM1 ~~~~y ~Ioll~ trce~s 1,4~}? 114,01
1►1~tc ~~1TIi LE
The I~it leans space ~`or ids mur~ieipal liquor stem. The lea,~es are bath ten-~rc~r leases and hc~ in i~00 and X003. loth leases Gave options fir a tern-year extension. The ~ease~ pr~~ride fir a rninir~um rrr~nthly
base rent parncnt,plus a prv-rata share ~f e~mm~n area ~~tpe~t~e~. in addi~i~n, #he~+ requires addi~i~nal
lease pa~rments if agreed-upon revenue thr~shol~s are at#~i~tcd. Then lca~cs tna}~ he canceiled at the it}~'s
oiption i~the pity ceases liquor oper~tivrr~, ~'~tal rental expense ~ndcr the lca~e agreements for the gears
ended leccrnber ~ 1, X003 and 00 was ] 4,73o and 1 ,~~a rc~pcetivcl}~. i*utur~ minjmur~ rent pa}rments ur~dcr the current agreements arc f~ll~~u~:
T~ta!
Year Minimum
~ndin Rents
X404 l X4,710 X045 11,7
00 1
~0~7 1~
0b 1330
00~ 13,30
X010 13,8 X011
X01
X01 ~,0
1,~~}}~
iTY F BII TEI 1I1~V~T1~
T'~ T~ FI1IiI~ ~'T~~T
Deeernber ~ 00~
Mate LI-~I'~l~L ~~8~
pity issue ener~fi obli~ati~>~ bands and equipment eertifieate~ to provide funds fir ti~~ ~e~u~~~ti~n and ~~n~~ueti~n of r~aj~r capital fae~litie~. ~"he reportir~~ er#ti~' ling-term debt is se~re,gated betwl~en ate
am~un#s t~ repaid frarn ~overr#mental ~etivit~e~ and af>~aunt~ #a~ re~a~d frarr~ business-type activi~ie~.
~~R1~1TL `~'IITIE
s ~flecember the Io~~term debt a~the ~ir#ancial re~~rtln entity eansited ~~`the
~`aliawi>~~:
Fi~a~ [nln~st Aiatwity Original pby~abte
R.~lex ~a~t [7atG 1ssu~ 17l~CfU~ Ceneral0~li~ali~~ ~~ds:
Refu~da~~f~aie-i~Str~tBattds 3.53~`~4,i81°'4 1~f1J1'~998 4f11~~6 $1,58~,~9U 5~~~,[0 ['afire and Fire fiuitdin,~ l~and.s ~.#CI°~~i.~{?"Io 1~U19~? ~JII~~C3 7*94D,4I1~ ~.87$,Ull~
T~~] Genera] Obli~axi~~ l~ond~ 9,48, ~.73~.~0
G.O. Tax #nrncn~ Bane
Tax inercrnent Bflnds of 19f 4,7U°~~b.[~4°~0 3f C11~1"9 C ~llBO~! ~t~~4,~44 1,~,11~Q~ taxable tax Tn~rcrn~nt 9~atrds of 6.~U~'~b."~S~'a ~ #l1Ji~9 ?lII~D11 4.SG1~,~4 ~,~80,
T~lal Tax [ncrcme~l Bands 1~,b14.~0U ~.~OS,~DO
G,I~. [rnprarem~t Binds:
1994 5lmt lm~rovernenl Bands 4.10°I~~.~Q° 8f 1~19J4 71145 $3~, 185,40 1995 lr~ct lrnproverneat ends ~#.~0'a'~.9Q°~ l 111115 7114~b 74,4 7C~b,404
199b ~lrect lrnprovemtnR ends x.24°-~. f0~ C Il1f l ll~[~7 1,~4~,Q00 G~~,40~ 1777 ~tRat Cmpravemtnt li~nds ~.4Q°f4-~.7[r~4 #?!1~[99~ ~llf~~ 1,47~,04~ S I~,~I~
C99S ,~#t lmprowtmtnt E~aads ~.44~'~.243'4 #7111#998 Jl1~i~7 1,485404 515,444
#99'9 Stet 1mp~n~F~menl Eiands 4.14~'~-5.40r°~~ 1:1111999 ?111410 1,58~t 1,494,444 She[ lmptoti~rmeat Bands 4.30°~oF4.94°~v 12111` JC1?4l l 7~5, 575,044
2041 SiTeCI impravemcnt Binds ~,~4°~0-~.4{l°~a 1211l~441 ?}#12007 7~0,1}0D X45,000 X443 ~[neel improvernen[ liond~ 1,45°~.--f.I~Q°1a 1f 11~4~3 ?J1~13 C,~[]~, l.~l~~,
TolalG.O.[mpr~~~ernentl~o~+ds 9,74,404 5,7a5,0~0~b
TQ~a! - bo~dcd:r~del~trdness ~9,565,4Q0 1,934,444
C~mpen;a~ed abunces pa}able 783.?~7
3atal pity inde~[e~~a~ - ~oxental aeti~ilies $~9,~~5.[f00 17,71~.~27
1~'is~l
lnleresl ~iaiurii~ Original payable Rnlcs l~ala 17aIe #ssu¢ 1C10~
G.O, l~vtnue Bands: 199a S1ornti Se~~er Re~~enae f~On~ 4.~b°~~5.40°I~ 81111794 21117445 X1,830,400 ~45U,bQ4
T~ta#busincss-t}j~ca~kivitie~ 51,834,400 $45d,40D
ITS' FB~~1 1~{I'~l~, ~Ylill~~'~'
ITE T F1I~1I~1L TT~IIET
December 31,
r~n~a1 debt ~~rvie~ requirements to maturity #'or long-term debt are a~ ~'ollo~~~:
cn~rnl bli~ntion Binds Ta.~ Incr~rn~nt B~nd~ Imprnv~mcnt Bnflds Year Er~dir~g ~v~rr~rt~~nt~114~~ivitic~ ~vctnm~ntal ~lctiviti av~rrirn~nml ~~iviti~s
~cccmb~r3i Prir~eipal Ii~I~~~Sk Prit~cip~1 Ir~tcr~sl Principal inter~t
X444 $744,404 ~~,317 1F77~F4Q0 37,30 X1,045,404 ?18,457
775,I~04 ~4,~74 ~~4,0 171,C~~ ~,I~~} 178,58
X10,404 ~~~,443 3G4,440 147r3~ ~84,4C~4 18,41
X007 540,004 i 9,40 385,440 1 ~,5~4 70,044 10,4~~ X008 ~~yy~,~OyyQ4 i~71~~~~~9} 38~F400 ~~Gy,r~~4 lt~~y,~0y4~4 73,14p7
7r}UUIJ J 4~t ~ UU 7Q}l ~ E U}U51U 4~, 5~ 8
X410 ~~5,440 115,74 415,004 4?,~~~ 95,0 4,05 X411 X55,440 84,714 4~5,U04 14,344 ~44,04D 1F33G
~41~ b~C~,{~C~ - - 175,C~0~Q 7~7~$
~~l ~ 75+404 ~ 7,7 - - l Q5,0~0 l00
Tel ~G,7~0,0 1,5~1,~5~ ,5C~5,(}~C~ ~~,30 5,745,0 817,41
I~rm ~~v~r ~ve~~~ Bons
Year Ending Bus~~t~s-~"ype ~►cti~iti
I~~crnbcr ~ 1 Principal Inter~~~
~D4 ~~a~~~ I~?~
alb
'I'4tal ~~4~
'7~
11 I l' ~1~~Jili~ 1 irll~ ~l~il~ti7~
1TE FII1twI~ T~T~~IT
~ecemlper I,
IIE ! i~~1-TEII L1~I~1L1'Y'l~ t
I~or~g-term liability activity fqr the year ended I3ecember ~1} ~~3r was as foll~v~s:
f~e~ianiri~ En~in~ I~u~ V~Tithin
~~lan~c ~~sti~ns l~du~~i~r~~ ~~1un ~n~ Year
~v~r~rm~n~al a~[ivities: ~or~d~ pa}~a~1~:
~~li~ation aonds _ 7,4Z~,~l~l~ $ - ~71~~,441~~ ~~,7~Q,~Q4 74~,Q41~_
'C~incr~mer~tbon~s G,1~4F4~4 - ~1F~4S,41~4~ 4,S~~F~UI~ 1,77~,~4~
sp~~i~! ~s~mcnt nd~ ~,37~,04~ 1+~4~,41~~ ~$7~,Q~4) ,?45,~1~~ 1,411~,4~4 T~~a1 b~r~ds p~y~bl~ 1~F~4~,41~~ 1}~U~,4~~ ~,O,O~I~} 1~F~~~,4~4 ~,~U,~41]
omp~nsate~ abs~n~~s 714,14 ~1~,~~ (SS~,~Q4~ 7$x,7 7~7
`Cot~l ~~v~rnrn~~tt ~~ti~ity ]~n~~ierrn ltabili~ic~ 1,~~,~14 ~1F~~~,713 ~~~,77U,4~~~ ~17,7i~}7 4,~43,~~7
Bands-type a~tivi~ie~
~~rm s~~~~er r~venu~ binds ~1~,~~~ ~4 x$214,044) 4~1~,~1~4 4,1~~1~
I~or ~e go~+erryrnental activities, leans pa}~~b[e arc encrall}+ liquidated by the general un~.
compensated absenee~ are figtaidated b the Internal erviee Fund.
X11 lar~-term bonded indebtedrrs outstanding at December ~ 1 ~ is baclt~d by the full f with std
credit of the pity, including impr~vernent and r~~+enue bond issues. delinquent assessmerrt~
receivable at ~ece~nber 1, totaled 7,~11~.
into 7 1~~~T 1~~~ ~I,IT~~I
i~r~rn tirr~e to time, xhe pity has issued Housing ~vertUe l~~nd and Industrial evcnue ~o~rds #o provide
assistance to pri~rate sector entities fir tine ae~uisiti~n and e~r~~tructi~n ~f housir~g# industrial, and
commercial Facilities deemed t~ be in the public interest. The bends are secured by the prep~rt financed aid are payable solely fpm payments received on the underlying t~or#gage loans. ~~n re~amcnt ~fthe
bonds, a~vnership ofthe required facilities transfers to tl~e private sector entity served by the bind issue.
leither the pity, the tatea nor ~n~r p~litieal ~ubdi~rision thereof is obligated in any marrr~er fir the
repayment of tl~e bind. ecardinl~ra the bonds are not reported as liabilities in tl~~ ac~rup~ring
f r~ancial statements.
s ~f December ~ l~l~, there ~verc sic ~eri~ of i~pu~in le~renue or Industrial Revenue fiends
outanding, v~ith an aggrcgat~ prin~ip~l tourtt payable ~a~~~. several variable debt i~~u are
also outsta~dir~g,
~1
IT1C B1~'1 ~1T~1,14~II~II~~~'
1TE T~ FAIL TTEFI1'
~~ee~nber 1, X03
Fund bal~te~~ and retained gins in ~e various fiar~d have l~eer~ reserved or desi~nat~~ fir tl~~ ~`oll~in~ ~~~po~e:
~~err~d Fund ~~ui'
Fund bal~n~e~:
Iaj~r fund: Central f~r~d:
Fr~p~id items
~van~e~ to other funds ]~a~74
Total general fund 1 I~7~
p~eia~ ~sc~st~cnt fonds:
Debt ~~rviee ,7,74
on~najor Funds:
Loan re~eir~~bl~ ,1~~D~
~~bt ~ervi~~ ,344403
Total nonn~ajor funds ~,3,44t
Total governm~r~tal funds 7?1,
~le~ignat~~ fund quit
Major fur~d~:
Cer~eral end;
~rl~i~t~ ~~~it~1 }031,077
TIF ~istriet
statutory hou~r~g obligat~or~ ~,7}~
Total ~~verrrr~entaf fund 7,0,7
7
ITS' B1~1~1 >~JiT~,1V~~VT
~Tl~ T FII~1li~ T~"~I~I~iT
Tcoem~er 31, ~~3
mote t'F~i~F~J~ ~Ej1~BL~I~~'LE~ L ANA T~FEI~ 4 ~
Individual fund int~rf~r~d reoei~rable and payable balances at ~ceember 1, art a~ foll~~r~:
lue from I~~e to
Fund ether Fundy ether Funds
Major Fund:
~'1F Ditriot 1,~~~, l;arl l~r~n ~`1F l~i~triot ~ 1 }p4,
lonrnajor o~+ernmer~tal Fund:
capital Ieserv~ Emer~ene F~~d I8,3 -
lviur~icipal state did ~`~r q~~tt~oti~n Fund - I1~,33
Total 1,0, 1~o,C
Advances to ~►d~+ance~ From
Fund ether Fronds ether Fronds
Major Fur~d~:
cneral Frond 1~,~74 .
F~.rl ~ro~rn TiF ~ist~iet - ~a 14~ inflras~rr~etr~re construction - 70~~
coif bourse -
ion-I~i~j~r Funds;
capital Emer~crro les~rv~ l~ur~d -
apital l~rpror~ert~ent F~,nd -
unioip~l Mate did fir ~ns~rr~otion fund ~3,~ -
! 1 ? 11
The a1~oe balarroes are not expected to be eliminated rvithirr one var ofi~eeember 31,
7
I~' F ~~L E1~T, I~iI~E~`
1T~ T~ FI11I~ TTI~II1T
i~e~ml~er
Int~rl"un~ t~fers:
~'rsfer ~n Transfer ~~t
~~rernmer~tal F~an~:
iaa~r Funds.
en~tal Fund ~ ~,I~a
Marl Brawn ~`1F l~istri~t - ~~~~4~0
T1F ~I~tTICt
pel~I ~s~~m~nt l~nnd ~,~7 - Infr~Struet~tr~ ~r~stru~~i~n ~~~aQQ~ -
1~r~ma~~r Funds ,~~~,4~
Fatal o~enmenta! funds ~s~~,~~
~rapri~tar Fund:
aterprls~
lv~ur~i~ipal I~iqu~r ~ II~~?~~~
~Ota~ ~#~~~y~J ~y 1 ~ aJ~
Ir~t~rfund transfers ali~~v the pity to all~eat~ f~nan~ial re~~uree~ the n~~ that r~e~iv~ benefit from ~eriees provided b a~~thcr fund ~r to pro~+ide additional capital and inttr~eture fvn~l~. !1 of the
ity'~ internd tr~tsfers fall under that category. I1 ~f ~~e tr~fer~ ~r ~onsider~d r~u~~n~ and
consistent with pr~vi~us practices.
1T F BR~~i E1`~~R# 1I1~11~]I~T
ATE T F1~41~4I~ TT~iEl~1T
Iec~mber
ate 1~ L~ ~~~T 1V1i
Thy it~r is ~ubjeet to a statutory ~l[~iti~~ b ~ state of iinnes~ta #`~r la~nd~d ir~d~bt~~n~~ ~a,+al~l~ ~rinei~all}~ from ~r~p~rt taxes. Thy pity ~f ~rp~l}~n enters legal debt margin ~`~r and i
e~~n~uted as follows:
I~ecernber ~
0~~ ~0
iar>~et ~ralu~ aer sal disparities 1,~40,11~,~0~ ~ ~7~,51
Debt limit ~f 1I~r~~~ 1~~luc ~,~~,O
amount o~deht a~plicabl~ to debt limit:
Total bonded debt 17~38~,~44 1 }0~,4~0
Less: Special assessment binds ,7~~0~~ ,']~,~~0
tats i~ street fonds 4}app} t,~0~,~~~~ Tax inerernent Bands ~~,15~,~~~
[ltilit le~+enu~ fonds ~4~,~~~~ ~ ~~~,Q00}
Total ~e~t a~~lieabfc t~ debt limit 5,7~}~~~ f,~p~
Mega! debt margin ~,~7,~~ ~',t 1,~~ i
~t~ ~~1iT
~e~cit fund balar~ee ~ist,~ at I~e~~~nber 1, ~~p in the follau~ir~ fund:
Major l~u~ds:
Larle ~ro~ Tax increment Financing ~istri~~:
~1r~r~serve~ deficit fund balance 1,~~,~~
The d~f eit i~ l~~in funded thr~~gh internal borrowing ar~d ~ri11 repaid from ~utur~ surplus t
in~r~me~t.
TE T FI1~1flI~ 7'T~I~T
i~ecen7ber ~1,
iVot~ 1 l~l~i~T11111~1~Y~, ~]~F~J~~T l~1~1T AID 1~11IT1~1T
. RBI~`l~ 1~~►T~
The'T~x lef~rm pct ~f 1 require o~+ernmental entities t~ pays to tl~e federal g~v~rum~nt
ir~eome eyed ors the proceed 1"r~rn the issuance of debt in excess of interest ~~sf pendirr~ the
expenditure ~~the b~rro~ved fund. This rebate of interest income ~kn~n as arbi~age applies to
go~+crrumental debt issued aver u~u~t 1, l~.
The pity Ess~aed greater tba~n ~ million ~f bonds in dte }ears 11, ] ar~d 1 7 and therefore i
required t~ rebate e~ccess investment income relating to these issues to the federal ~o~ernment.
The extent of the pity's liability fir arbitrage rebates ~n the rerryaining bond issues is net
determinable at this time. Ha~ve~+era in tine ~pini~n of management, any such liability would be immaterial.
LITITI
~"he pity is ~ubjeet t~ certain legal cla~rns in the normal course ~f buin~~s, iagerrtent d~e~ nit
expect tl7e res~luti~n ~f these elairrys will ha~re a material impact ors the pity's finarr~ial ~~nditi~r~
or results of operations.
. FEDERI~ l~i~ T'f~ ~D
moun#~ recei~red ~r receivable from federal and state agencies are subject to agency audit and
adjustment. n~+ ~i~all~v~cd claims? including amounts already collected, may cor~~titut~ a liability afthe applicably fund. The amount, if an}+, o~`funds which may be disallowed by the
agencies cannot be determined at tbi~ time although the it~r expects s~c>~ amounts} if an~r} to be
immaterial.
D, TAB l1~11V~~iT ~ITIT
7'he pity's tax increment districts are subject to review by a state ~f Minnesota ~f~ice ~f`tf~e
state ~aditor Any disallowed claims ~r rr~isuse of tax increments ooujd become a liability ~f the applicable fund. Management h indicated that they are riot aware ofany in.~tances of
noncompliance which would have a material effect on the financial statements,
Federal program acti~rities are subject to financial and complian~~ reg~latior~. T~ the extent that
any ~xpendit~tres are disallowed or other corrypliance futures are not met, a liability t~ the
respective granter agency could result.
'7
ITS' Bi~I~ Ei~'~,1ViI1iET
TE T~ FT1iL TTE~l~"
I~e~ember ~ oC~~
F.
~"he pity approved grants in the amount af~~f~C~C~ t~ lnea I~imitc~d ~arersl~ip. The grant r~quirs re~a}~ment if certain re~uirem~nt~ aro r~~t m~t~ Ire tern, tl~e Iwi~ ~r~old required t~
r~turrr a fonds to Hennepin bounty,
. [1B[1iT ~I~T
r~ April ~a ~~4 the pity sold two new bond issues; ,~4,pI~~ ~ner~l blig~ti~~t Polite and
~ir~ Building >efundin Bonds} series ~o4 and ,~7~foC~4 Taablo ~neral ~iig~ti~~
I~terement Refunding Bonds, Series 448.
!r~ January ~~4 the pity opened a se~or~d munieip~! liquor #~re.
1~T~1~1'~ I~~~l'~'1~
Tire pity entered into two limited tax increment n~te~ with deveCopers ~nc~ref~y the pity shall pa}+
the developers tie lesser of tine s~hedul~d pyme~tt ~r available tic inercment. 1hether a
pa}~ment gill o~c~ar and if o, tine amvurrt of ~t~~ pa~rm~~t~~ are unert~in inc Il p~~rrn~n are
dependent are the pity receiving tai ir~orement from ttre developeras profit, ~ ,~uei~, tl~i~ liability has not been recorded in tl~e f~~aneial statements. sohedule o~`the notes outstanding at
l~eeember ~0~ is as follows;
riglnal 1l~114~~ Interest Maturity
dote >~rin~ipal Balance Rate mate
Tvrin l~alc~s business dark 1,1I~4,~C'IlI - ~.4~°~ 1~III~o~
Tvrin Lakes business lark }I,~ 1 ~.~~°o
~o maturity date is set. l~ayment~ will e~~ttinue u~ttil tl~e ~rincip~l i~ paid, ~r fir 1~
years, ~v~ric~ever ~orne~ fiat.
7
1~T~ T FI1~1~11~IiL TTET
December 1 ~ o~~
1~te ~ l~~i iViA1~1~Vil~iT
The tWit}+ i~ exposed to various risl of loss related to torts; theft of, damage to and destruction of assets crror~ acid ~mi~sions end natural disasters for whiol~ a pity carries commercial insurance policies. The
pity retains risk for the deductible portions of the insurance policies. The amor~r~t of these deductibles is
e~r~sidered immaterial t~ the financial statements,
There vwrerc r~o significant reductiors in irsurance from the previous year or settlements in excess o~ insurance coverage far ar of the past three years.
ate 14 P'f-I~iPLi1T H1~AI~TH CAS B~E~'1"f
'fhe pity has provided post-employee health care benefits? ~s per ~e requirerr~ents of the it}+ ounoil
rc~gluti~n, for certain retirees and their dependents inee I$, r~,l1 #]rne employees have the option of
ret~ir~ing ittem6erhip in the pity}~ health insurarrcc plan fpr which the twit evil! pair the ~inle person
premium until such time as tine retiree is eligible for liedicare coverage or at age whichever is sooner. Ifthe retiree desires to continue famil~+ eoverage~ the additional cast for family coverage shall be paid by
the retiree to the pity. There are two methods u~herehy an employee can qualify under this program. First,
the empl~}+ee, on the date of hislher retirernent~ must meet eligibility requirements for a ful! retirement
annuity under {1ote 1~ without reduction of'benefits because ofage, disability, or any+ other
reason far reduction. ~r addition, the employee must have been employed dull time b}r the pity for the last ten consecutive years prior to the effective date o~rctirement. Additionally employees who are retiring
after twenty-five gears of consecutive service vrith the pity end are eliible t~ receive a pension from
i~~IA shall have the option ~f retaining rncrnbership in the pity's health in~urattce pC~t fir which the
crryployee will pay the premium until such time tic retiree is eligible to receive ?full-retirement annuity
under ~~lA or F~1~ pojice. At that time, the pity will pay ~e single-persar~ premiurrr until such time as the retiree is eligible for Medicare coverage or at age , vrhichevcr is sggner. ~mplo}+ee~ participate in
this program on a voluntary basis.
~1s ofi~ecember ~1, 0~~} 11 employees currently participate in this program. The cost of it}+ paid health care premiums fir the years ended December ~ I, oD~ and was ar~d ~,~a respectively.
Fund liabilities are paid on spay-as-you-go basis with investment earnings of the Fund. The t,~?a
recorded as a liability is not an actuarially determined amount, but the pity's best estirnat~ of the future
liability. The liability will remain uncharged until a thorough analysis of future liabilities is performed.
7
1 1~ D~IL1~ I it 1~ 1 L' 1 #i
I~'~~ T~ F11AII~ TT~h~~IT
December ~ 1, D~~
1►lote 1~ UFI~I~ ~Ei~FIT PEi~I PLI - TTE~E
TT~~D~~ PIRA
PL D~~IPTiDI
All fill-time and certain part-time employees ofthc pity ire covered b defined benef t plans
adrr~inistered b the Public ~mplo~rees letir~mcr~t ssvi~ti~n ~f il~finnesota ~~1A. ~'~A adrrMinisters the Publio mpln}ees retirement Fund P~ll"~ std the Publio ~mplo~+ees Police and Fire
Fund PFF~~ whioh are cost-sharing, multiple-employer retirement plans. These plans are
established and administered ire accordance with r`~~~~es~~a ~a~~r~e~ chapters ~ and
PEl members belong to either the oordir~atcd Flan ~r the B~Sio Plan. oordir~ated flan members
are c~~rcred bar social security ar~d basic Plan members are n~#. All new members must participate in
the coordinated Plan. All police officers, firefighters d peace officers who qualify for membership
by statute are covered by the PEPFF.
PIA provides retirement benefits as well a disability benefits t~ rr~embers, and benefits t~ ~urviv~rs
upon death nfeliible members. benefits are established b state statute, and ~+cst after three }ears of
credited service. The de#ined retirement benefits arc based ~n ~ mernber~s highest average salary for
any eve successive }rears of allowable service ago, and ~rear.~ of credit at terrrrinati~n of service.
The benefit provisions sited ire tl~e previous paragraphs ofthis section are current pr~visi~ns and
apply► t~ active plan participants ~lest~ed, terminated employees ~vh~ are entitled to benefits but
am nit recei~+in them fret are bound b the provisions in e~`ect at tl~~ time they last terminated
their public service.
P1A issues a publicly available financial report that in~lude~ financial state~ner~ts and required
supplementary information for P~F and P~PFF. That report m~}~ be obtained bar writing to PA,
~ empire Drive ova fit. Paul Minnesota, 1~-0~~ or by calling { 1~-7~~ ~r t-~~-~~-
FfJ1D11 PDLI
iinncseta statutes tWhapter X53 sets the rates for crnploycr and ~plgee cgntributi~ns. These st~tutcs are established and amended by the state legislature. The pity makes annual contributions
t~ the pensier► plans equal to the amount required by state statutes. P~R~ Basic Plan members attd
u~rdir~~tcd Plan members are required to contribute .f~~~ and ,ll~~~, re~pe~ti~r~l}+a ~ftheir
annual covered salary. PEPf'F members are required to contribute ~ftheir null e~~rered
salary. The pity is required to contribute the following percentages ~f manual v~rcd payroll; ~ t.7~o fir Basic Plan P~1 members, for coordinated Plan PELF members, and .0~~
fir PPI*1~ merr~bers. The ity►' contributions to the Public ~rrrpl~ees ~etirerrtent Fund fir the
gears er~dir~g December ~1 r X03, ~0 and ~~1 were 0,7, a9~ and
respectivei~+. The ity~s contributions to the Public ~mpl~yces Police and Fire Fund #"or the gears ending December ~~3, and vrere 7,~4, ~ and 3,7~, respeetivel}~.
7
ITC F BI~IL~CI~I 1~1'Tli~, i11~11~1~T
1TI; T IillllAl~ TATEII~T
D~cernber 1,
The its car~tributions ~v~re equal t~ the cpntractually required contrihuti~ns for each year pct
by► stag statute.
~1~~1~II11~LI -B~IL1 I'IRI~ ICI+~P,41~TIVi~T I~I~I~F
~IATI
LPL! I~ELIPTI~
The pity contributes t~ the Bro~l~ly~n eater Firs D~parhncnt ielie~'As~gciati~n the Ass~ciati~n~
v~l~iclt is tine adrninistrat~r ol~`a single empl~~r r~tirem~nt s~tcm t~ pr~vi~e ~ rctircment plan the
flan to volunteer firefighters ~l~`the pity why are members ~f the Ass~ciati~n. The Ass~~iation issues a financial report which is available ~t Iwit ~f~ices.
FUi~Ii PLt_1D A~~L i~l~il~,i T
The pity le~ries pro~crt taxes at the direction of and for the benefit of ~e flan ar~d passes through
s#~t~ ~i~s ~Ilac~te~ the Plan, ill in accordance with enabling tats statUt~s. The minirnum tax
levy obligatian is e f i~ancia! ~ontributi~n ~equirerrt~nt fir the }year leis a~ttiei~ate~ Mate ~i~.
iTRII~JTtI
T~atal contributions to the plan ire 00 were I 1 pfhich 1, way levied by c pity ~f
~rool~l~+n tenter and 10, was from the Mate ~f~riinnp. The ~ctu~riall ~etermine~
contribution based ~n an actuarial valuation perf~rmc~ at January ~ f was 1 ~ ] f8 l a which
represents fun~irrg fir normal cost ~fI~,I~ std adrninistrati~r~ ~f1,7~. Actual cvntributivrrs have cor~tinue~ a# higher levels t~ ~llq~v fpr a transiti~~t a defi~ted cgntribution
plan in the future. These nigher payments are irrev~cabCe and nit ~ffc~t the level ~f future pity
contributions. The}+ do no# c~nstitu#c air asset af`t1~e itjr.
The information below is the mist recent data available,
Actuarial valuatign date t1~o~
Actuarial cost method entry ale normal cyst method
Amortisation mcti~~d revel dollar amou~rt amorti~cd
on a closed basis
ema~ir~ing amortization period 1 years Actuarial ~ssumpti~r~s:
lnvestmcnt rate of return compounded atu~oa[ly
I~iscour~t rate for obligations
Projected salary increases tit applicable
Pqs# rctirer~ent bcnehts Nang
Infl~tign rate Iot applicable
1'~' {lF ~1i EITEH} 1VII1~11~T
T FiAIi~ TT~~]T
I~~~mb~r 1 }
Ti3E~-~ TIE1D 1l1* ~11ViTi1
Thr~~ ~'~arTrend in#`orm~tion
r~n~al P~r~~nta~~ I~t
~C~ar Pn~i~n ~f ~4F P~~~i~n
Fn~in~ ~a~t {P~ o~tribtt~cd bli~ati~n
1 13I IIIO 1? l~~~~ ~
I II~~! 11 ?~~8 l~~~~ ~
il~l~l~~ 11~?5~1~ 10~~~ ~
H~DLiLE ~1* ~1III~I 1~1R~
~s~ts in
~~~s~ ~f
tuari~l ~4~tu~rial Actuarial ~l~nfun~cd~ al~~tior~ alu~ ~f ~1~ru~~ ~rue~ 1~ur~d~d
l~at~ ~lsscts Liability Liability I~~i~
1~~~1~~~ ?~7~a13 ~,~57,13 fiI,~ 1S,~II~a
1~13l~Q~1 ~?~~~,3~ ,1~~43 3~,$~ ll.~~~o
I ~I~ 11~~ ~?5~~,~~ ! ~~7~~~C 1 }44 I O.~I~°~
1EL~'1~~ P~►1'~ II~E~"111T
~f l~~c~~b~r 1, ~~3, tb~ s~ciation h~1d r~~ s~~urit~~s i~~u~~ b}+ the i# ~r ~th~r r~l~t~~ ~ar#ies.
1~~~ i ~ ~~1H HE
~"h~ f ~ll~~~rin~ ~'u~t~~ ~v~r~ opined duri~
api#~! F~~jec#,~:
tr~~t cn~tr~eti~n Fund
Tech~~l~gy Fu~td
1
~T~ T FIIiIL TT~~rIE1T
[ccerr~ber ~ 1,
mote 17 ~l~ lei tW[J1~iTli ~IiI~~~
In ,Tune 1, the ovcrnmcn~al accounting standards hoard B~ ~pprgv~d tat~ment l~l~. , Ba~~c Fr'rtar~~~a~ la~~r~~~rr~s - ar~d fa~raer~re~r~ #~~~~t~s~ior~ apt ~~a~sis fir ~a~ acrd ~~~a~ ov~rr~rr~er~~~.
The pity is required t~ imp~emcn# B ~4 n~ dater than the year ended ~e~~mb~r ~ 1, Thy twit
elected t~ implement r1~ ~4,including the infrastructurrciatcd p~rti~n, during The m~~#
signi~ica~t effects of impl~m~nting ~ ~4 during ~ fgll~~:
~vernmer~t-oxide financial statements arc prepared using full accrual acc~untir~g fir all the itf s
acti~+itres.
Infrastructure arrd c~nstructi~n in pragr~ss fir go~rert~rrrental acti~rities has been capitalised and ali
capital assets arc depreciated ~n the g~vcrn~nent-vide financial statements. sec etc 4 fir restatement of pre~ri~usl~+ rc~nrtcd amount.
• Tl~e basic fund f ~nan~la! st~tem~nt~ #`~us ~n m~j~r funds r~th~r that fu~td #~~s.
anagcmcnt I~isc~assi~n and naly~sis I~iI)~~ is ir~c~udcd as rcquir~d supplementary
infnrmatinr~.
These and other changes are relicctcd in the acc~mpanir~ fina~rcial statements ~incio~ing n~t~s the financial statemcnts~.
The pity also implemcn~cd the following pronouncements during U~, which did not have a material
effect ~n the acc~rnpar~~+ing financial statements:
~ Statement ~~i~~r~l R~~or~i~~, for tw"~r~ai~~ ~~ar~~ or~~~r~arx ~~~r~~~s ~ an
mcndment t~ I tatc~nent
~ ~ taterner~t ?a ~asr'c ~'rr~crr~cra~ ~a~errrer~~s L acrd ~rlar~ag~rr~er~t ~ ~~scr~ssrar~ acrd r~a~s~s -
o~~ ~r~d ~oca1 ouerr~rr~~r~~s; ~rr~rr~brrs - an mendrncnt ~f ~ eta#cmcnts Igo. 1 d lain.
~ ~4B t~t~m~nt 'er~ar'r~ !~'r'r~arrcra~ '~a~er~re~r~ Node ~r~clos~rr~~s
• 51 Statement 41, ~3~~~~~ar o~rr~ari~or~ ~~~~~~~~es T ~ers~o~iu ~r,',~'r~r~~~s
~4umEn suPPLEn~rENT~tY vvFO~Tro~v
83
1TY F B~~I~I'i ~lT~ l~ill~iE~T
[JIII~ [~PP~~~I~~'~11 jl~li~~ITI tat~m~n~
Bl1I~~T~ Iv~~~111I~1 1-I~~[J~~F ~ FI~FII~ F~ Fagg 1 of Por '1'he Year landed lecem ber ~ ~ , 0~~
ariar~ee ~~ith
f~ina] ~udet -
~ud~ek Amounts ckua] Posi~ivc
~v~nues: ~ri~ina] Final ~►rnounts ~e~ativc} Ta~~s:
Prop~rt}~ and rnarl~ut value h~mcste~d ~r~dit ,~?,474 #~7}474 ~o~t~ 1}~~ 4# 1
Pcnalki~s ~ inkcrest - ~ ,~~4 14
Lodgl~g tit ~T00,~~0 7~~,0~~ ~7 {,7~~}
Total saxes ]~}7474 10,37,474 10,7,07 l,o~
Li~~n~~s and p~~tiks:
Liquar end beer ~ 07,00 ~ 07,00 ~ 1 ,4 ,34 building permits 310}000 310,000 41,3 14],~~
Ivi~~l~anical permits X0,000 X0,000 ~
~~v~r and ~vater p~rrniis ~ X000 ~ 1 a~0
Plumbing perrniks 3,000 ,730 ~a730
ar~ae licenses ~
'1'a.ica~ licenses X00 X00 1 x400 900
I~riechar~ical licenses 4,00 4,00 ,77
l~a~~rn shop ]i~eryses 1,000 x,000 1,040 - ervicc station ~ie~nses 1~
el~iele dealer licenses x,044 ],7~0
l~olir~ licenses 74 -
igarck~e licenses 3,04 3,500 4r1
ig~ permik 3,000 3r~~1
ent~l dwelling permits x,004 ,400 ~,S ~~,0?~ ~1rrYUSement licenses a040 i,5
Raw perrni~s 5,440 5,004 1,7 7#7
l~iiscellaneous business license x,454 ,54
'l~otal licenses and permiks ~}70 1 ,74 X7,5 14,5
lt~terovernmer~ ka]
stake;
Local ~overnmenk aid x,541}033 131}C1 ~~,1~I}~~'
police pension aid X54,000 X50,000 55,47 5,47 Pl;~1 aid 34,35 34x5 34,35 -
rirep~rson pension yid 14,13 ~ 1 }3
~oltce ~rair~i~ 15,440 X5,044 17,3
~-l ~ phone service 1 15#~~~ 4,~0~
Creek mair~ker~ar~ce aid 30,0~~ 34,000 X0,400
Lo~~ incar~e housing aid 5a~87 5,~~7 5,~7
lisccllar~eous grants l,~~0 1,400 } Total intcrgov~rnmental ~~~1~ ,~,I~S 1,48a~7 ~1,~5~,7~
h~r~s for services:
rencral go~rcrnrncnt ehargcs 4~0 4,0 ,4 4,~
Pu~li~ safety ~hargus ~7,4~ 17,45 5a~3
Public works 34} 34# ~5}0~1 ~~9,841
eereation fees 3~C,04 31,00 3,13 1,313 'Total charges for services 7~~75 ~~,~17~
i ~
1T~' ~1 III~IVE~T
EUI~I~ fJPPI~f~I~Ti iF~vfTl~i tateme~t
BUI~i~~`l~l~C ~~~►]II H~DL~ - ~I~EL ~4JCD Page ~ For T~~ ~'~ar l;nde~ I~e~~~nb~r ~ 1, 0~
arianc~c ~~rit~
Final ~u~~~ -
I~ud~et~d 1lrnoun ~kual I~~si~iv~
~ri~i~tal final ~1t~~~nts {I~ativ~)
cvon~: ~~~nkin~e~~ Fines std f~rf~its ~C~,40 0,~~
is~ellane~u:
Inv~km~r~t earnCr~~ ~~~,OC~~ i~,~~ {1~,'J7~
hang in fairvalu~~#`invtment,~ - - ~3,~~~}
T~~a! mi~~~lia<t~ous ~?}~C~~ 7,~~0 ,41~ (1,~~
~"~kal t~v~[tu~~ 1~,4~,71 t~#~~,~1 1~,~~,10 ~~~,~I~
Fp~n~itur:
~neral ~~vernm~~~:
Ia}+or and ~~unil:
urr~nt;
P~r~~r~al ~ervi~ 4}~ 4,3~ 4,7 1,1
ivfat~rials ~n~ supplies ~,50~ ~ ~C~~ 1 1,~~1 ~ntractaal ~rvie 4, ,4~
TotaC rna~r~r anti o~nil ~4,~~ 14,E l1a38 I~,~
~ministr~aki off icy:
urr~nt~ '
P~rsnnal s~rvic~ 43r 4a5~ 47,4 1~}?7
+Iat~rials end sup~li~s 7,~~~ 7,~~~ ? ~,4~
~ntractual s~rvi~ 7,~~ 4,~ 1,~7 Tai adminC,~tr~ative ~ffi ~f~~~4 ~~}4 4']~,4~~ ~,4~
El~cti~ns ar~d v~~~r r~~istrati~n:
current;
i'~rs~r~al ~crvi~cs 7C}~1 x,31 X4,1 i}~U
~vi~~erials and supplies ~#~~D 1~~C~~ ,4 ~,4~
~ntractual ~~rviees 477 ~,7~~ 4,97
Tot~C elections and voter regiskraki~r~ ~~0~ ,1 ~ ,~7 ~se~so~s offio~:
current:
Per~~nal erviees C~a~~ ~}3 ~ ~r~ 7,44
h~iaterials and ~upplie~ ~~17
contractual servie 3~,~~ 3~,4~~
Tai current ~~O ~?,4
apical ~otla C,BC~ 1, ] ~ Total asses~o~s off i~~ 5~,~~~ C~,~ ,77~ ~
rinanc~:
aterral~ and supplies 4~7~ ~7~ ~,~C~
o~ttr~ekuaC s~rvi~~s 1~}C~~ 1~,0~ 1,?S~
Total currer~k 4,1~ 4,1 ~1}~~ ~,~3C capital oukla}~ 3,~~C~ - ~,0~~
Total finance ~5~1~ ~,~4 ~~~,f~$ 11,E
ITS' F BII~I~ E1~1T~ lli~l~1~~"~i
>F[1II~~ P~,1;fE1T~41 Ilij~M~1'1'11 ta~~mea~ ~ ~[J1T~ ~I'I~ H~I~U11~ - 1_;1~1~1~111~ 1~~.lII~ ~
ror The dear ~n~~d i~e~eml~~r 3I,
Variance ~~►ith
F~~~! Budget -
Budet~~ ~4m~un etual l~ositivc ~riinal Final ~lmour~ts (le~ativc~
Fpen~ltur~s ~c~r~tinucd;
cr~er~1 ~vurnmunt; ~onti~tuc~d
L~ga!
urrcn~:
P~r~ona! scrviecs ~~,o~~ 5~,00~ ~,7
government buildings; urrcnt;
~~rs~ n al ~ rvicc 1 4~, 1 ~ 1 } 1 ~
Il~t~rials and supplies 7,1~ ~7,1~ ~7}~ 1}7
o~tryactual services ~,~~7 ~3,1~~? 3~~}~~ ~1,~1~
7'ota! ~ovcrnr~cnt buildir~s 5~~,44 x,44 1~1~,4~ ~~~,1~
I~atn proccs~in~:
~rr~~tt; Pcrsnr~al services 14~a?~~ 1~1,~4 ,14
Iiatcrinls std ~upplics l 1x14 ~a14~
or~tractual services 17,E 17,E ~~,0~~ 17,E
Tots! current ~~,71 ~,71~ la~~~ ~at5
~pi~nl ~utl~y~ 7,0~ 7?0~ ,44 3,~~
T~tnl data processing ~~?~j 34,044 1~,~71
Taal gcr~eral ove~t~ent ~~~,~7 ~6,~7 ~4~',~~ }~7'1
public safet~r:
l~olicc protctivr~:
current;
I~ersonal services 4,4,4 4,,~ ,~7,1 ,7~1
Materials and suppiics 1 ~1r1~4 1~ 1r~4~ 1,5 on~raetual services 1,~7 1,~? 84,4 7~
W ii ~'otal current t 1 5,4 ~a 11 ~ ~~l~a7
capital autl ]4,~ 14,15 ?,1~~
Tots! policeprotec~ion ,4,70 ,4,70 ~?1~~,?14 1,~
F~irc protcctinn:
current:
- l~ersor~al services X07,1 1~ 47,1 ~ 41 , ~ ~ S {x,14 ~ ~ Materials and supplies x,000 45,00 ~1}~4 1,~4~
o~ttract~a a l e rv ices ~ l , ] ~ 11,154 ~4,~4 ~ 1
Total current ~~a344 ~~~,4 ?~~}7 ?34~
apil ~utla ~4,~00 ~~,500 3~~54
T~~al firs pr~t~u~io~n 70?,~~ 7t~~~0
I~"~C F 81I~~'1 E1~~`~1, i4~IiI~~T~
1~L~I1~I >~~LI;iL1'!''f lF1T~ t~temcr~~
B[JI~T~1 ~Ivf~il~! H1~1LJI~~ - >~~I~ F[,~I►~I ~a~~ 4 ofd For Thy 1~~;~r landed C~cc~mbcr ~ la 013
ariar~cc ~vith
Final ludet
P~~deted rnour~ts clual ~'o~Eliv~
riir~ai ~ir~al rno~nt ~'~~ati~r~} ~p~nditures contin~~d:
F~bli~ safct~r: cor~kinucd
rotectiv~ inspection:
current:
F~rsor~al services ~~,4 a~1 3C~,
iatcrial and ~upplics ,lOl~ ,1~~ 3,~
ontract~al services 4,40 (1~,~~~
Total protective inspection 4~,~~ 4~} 1,4~ lsmcrge~tc prcparedr~ess:
urrcnt.
Personal services 4r0
Materials and supplies ,4~~ 1,0~~ 1,7
or~~rac~ual s~rvic ~~}41 ~~,41 ,0~ ~,1
`l`ocal emergency preparedness ],~0~ ~,7~~ 5~}~~ ~,7~1
'Total public safety #64~}~~ ,~,3 ~7~~0
P~bli~ ~~ors:
l~ngin~~ring d~part~ncr~t:
current:
~ersor~al services Cl, ~~4,7~ ~~#1~C] h~iaterials and supplies }00 ,5~~
or~~ract~al services C,~~ 1~,~~
Total current ~4#1~0~ ~ ~4,8~
api~a] o~tla}~ }~0~ ~ #oC~1~
`Total engineering department 7~,~3 7,~~~ X34,800
trcct dcpartrncnt:
urrc~tt:
1'ersor~al services 8,1~ 3,1 ~8~ i~terials and supplies 1,0~ 18,00 1,~~4 30,1l~
contractual services 18,14? ~ 1 , ~ 34,1 ~
Total current ],C~~,78 ],~~78 1,114,7 l~l,o~
capita] outla}~ 4,~~0 94,00 ,880 Y
Total street department 1,39,89 I,3,79 1,14,E 14,184
Tots] public ~~rorCCS 1,93,4 1,93,4 1,49,40 8,07
community servi,~:
social servi~~s:
urrcnt:
ontra~tu,~ l sc rvi~ 9,1 X3,1 ~5 1 ?5 ~ 1 ~ , 4
CITY ~l~II~~I TAR} 1ViI1Vl~T
1E[~1~~ [J1~L~1TA] IF~ATI~i statement
~[~D~TA~' l~i~i H~~~.TI.rE - EEIAI~ 1*tJI Page of Fir The ~Cear I~nded Member 1,
variance with
Final ~u~get -
Budg~:ted Ar~aunts Actual l~~sitiv~
~rigin~i t~inal m~ur~ts {l~Ieativ~~
~per~~itur~s ~~ntinucd; I'arl~s and r~~r~~ti~n:
drriinistratior~:
current:
l~crscnal services 430,E 41,1
liaterials and supplies 11~0~ ~ 1,~0 ?,~~7
ontraetual servie ~,~O 44,77 1,3 Total current ~~~,~5 471,7~~ ?,8~4
capital ontla}~ 3,0~ ~1
'I'ota! administration I,7$ 1#7~ 474,47 ~~?31
Adult programs:
urrer~t:
Fers~nal ~ervice~ I04}~D3 I44,~43 ~~~4 43,~4~
Materials and supplies I7,44 I7~04 4,7~ contractual services 4704 4,704 7,777 ~3~477~
Tots! adult programs 1 , ~ 1 , ~ ~ l l ~ 1 a 1 ~ 7
~`een programs
urreryt:
Fers~r~al services 4~ 7
l~rfaterials and supplies 704 700 4~ ~1
ontractt~al services 1,04 I,O~ ~ 'I`ota! tee r~ programs 7,1 ~ 7, t , ~ 44 x,04 ~
youth pra~graros:
current:
l~er~r~al services I~~,3~~ ]QO,~ 41,04 ,~31
Materials and supplies I,~~? I,S? ~ ] 1,03
contractual services ,DO I,?3 7
Tota! youth prvgrarns 14~ I4} er~eral prograrr~s:
urrer~t:
l~erscr~al services ~a4~~ ,44~ 7,4 I,7~
lviaterials and supplies I04 104 ~ 104
contractual s~rvi~~ 3$,704 ~}704 I? ,~~1
Total general prcram s 4,43 4, X43 44, i 1 j
~rnmunit~r center: current;
P~rsur~al s~rvic~s 441, 441,E 3,83 4~a1~~
~vlatcrials and suppiies 1,75Q 1~,7~~ 1~,~~4 ~,~10
ontractnal services 5,~~~ ~,~~4 l,~~ 4,70
'I`otal current 3~,~8 3~,~~ 473,1 I
capital ~utla~+ 1~,~~4 l~a~~~ I,43 ~~I
Total comrnanity center ~4,~~ ~~?3~~ 474,730 74,E _r_~_.
ITS' ~ ~~L~' ~~1T~1,1ViI1~T
~[1IE1 1J1~1~1~f~FITI~' IF~IiTI~i tatem~nt ~ SI`JI~I~'I'~ l~I[1 HEI~I~111E - EI~IIIRII FClI~iD Page of
1*or Thy ~'e~r ~nd~~ i~~~~n~ber ~1,
ar~an with
Final ~ud~~t
Budci~~l moul~t~ c~ual Posit~v~ ~ri~inal 1*in~C ~4rno~nis ~ea~i►+~)
l~xp~ndi~ur~ contir~~~d~:
Pars ar~d r~r~ation: ~c~ntinu~d~
lark maintr~an~;
urr~r~t:
~rfat~rials ar~~ supplies 7~1I~~ 7~,11~~
~ntraclua! ,~ervice~ ~,~5 ~ ~~~1 1~,~9 Taal current 91,4 1~~ ~~1,~~0 14
capital ~u~la}► 7,~~C~ ~7,~0
Total park rnair~t~nan~o I,~~~,?44 1}~~7~~ ,~4 1,50
Total parks end recreation ,4~~,~4 ~1~~#034 ~~70
Fcor~or~i ~ev~lopment: ar~v~ntior~ bureau:
urrcnt:
l~cro~al s~rvi~ ~~,~C~ X39,?0 ] ,0~ 1
i~nd~partm~;~ttaC:
~pnditur~s not C~ar~d departat~~ents: urr~~t:
Fcr~ona! services }l~ at5 ~,1~~ t,~
Materials and supplies 7,8~~ 7,$~C~ ]4,~ 1,11
ontrac~ual servi~ 41 ~,~I
Total current 1 ~ 5~~, ~ 3 t,~ 17~,~3
api#al ~utla}~ 1,71~~ 1,71~~ 1,1~ 15 i
Total non~cpartmcntaC ~~?,~1 I~7,1 ~a~~ 1?4?~~8
Tota! c.~p~nditUres 14,543,1 14,~3,~t 1~#~,i71~ ]}f5,~~1
Ievenu~ over U~td~r ~xp~~tditur ~~~}411~ $~,4t0 1,7,7~~ 81~,3~
~thcr financing sources {uses:
Trar~~f~r~ in - ~drnini,~tr~ative ~crvices reimbursed 78~,~8~ 7404 ~~7a~~ 1 {17?~~3~
Trar~sf~rs to other funds ~ 1,~4I~,44 ~I,4I~,44 ~,14a5} {5~?l~l~ Taal other fir~ancir~ sources {uses} ~I~~4,41I1~ ~4,41I1) ~1,~~7,43~ ~7~,~4}
.
let increase decrease in fund balance ~ ~ 7~3~ ~?,~Il
Fund balance -January 1 7,~~,?74
1*u~d bala~~~ - l~cernb~r ~ 1 C~,~ 1?~~l~l~
1 D~~I 11 ~Ll 1 ~~:rT~`'~
I~[111I~ ~J~~I~~~1Tl IF~~iTiI~ t~~ernent 1 ~ B[1~i~T1 ~I~rtPI~I HEDUL~ - ~I, B~l~li T II~I~I1~1'T' DITiT
For the dear ended ~ee~rr~b~r
1~iance v~ith
Fine] Budget
~ud~e#ed Amounts P~~it~v~
riir~~l Final equal ~~~a~i~+e) levenue~:
Fr~~~rt tte~ i a$l 31,~~ 8~,~~~
~ntere~t ~ - 4,~0~ 4#~~
To#al re~re~tu~ ] } 1 t, 1 3~~ (3,~~
~~c~cnd~~ures:
erviees other charges l~,o~~ ~~,04~ ~ ~4,}
e~enues over und~r~ ep~n~ire~ ~~~C1 1 y] 7,~7 ] x,774
th~r ~n~neing s~uree~ uses:
~'ransfer~out ~1}44~?q~0 {1,~40~~0~~ ~~,0~0~ ~?,~00
het inereas~ ~eer~e in ~ur~d balan~~ ~51~,1~~ ~1,1~~ l~f~7 47,
Fund ~alan~~ ~ ~an~,~ry 1 1, 14?~~}
Fund b~alanee - i~e~ember ] ~ ~
0
T~' F ~I~ ~1T`~# N~IiZ~i~T
1~CT[~~ [~PP~~1i~TR 11~~f~TI~ ~~~~rn~nt 1~ ~[.J~~T FIi~1 I~EI~LT~E - T ii~1~ET D1TRIT" . ~
li ar the gar ended ~ ~~emb~r 3 ] , ~ ~
~riartee Frith
Final ~udet -
~ud~ted ~~unt~ Pe~iti~+e riir~~! Firya! etual (i~1~~ati~e~
~v~nu~~:
>~rapert~+ ta~e~ 1~,0 ,31~,4~ ,3~8,0~ a3~
t~t~re~t ~ - ~ 1,3 ~1,~
Total rev~~u i 4,~~ 14,~~~ ~f~,~~4 7~,0~ Y
~~endit~r:
~rviees d other charges 34~,~~0 ?1~r~~~ Interest ~}~00 ~~,0~~ 4,~~~
Total e~~n~itures ~~,4~~ ~~0~4 ~7,5~ ~1 ~ 1,~
even over ep~~tdit~res 1, ] ,~S 1, ] x,90 ~ ] 1 ~,~4 1 ~~4 ~
ether fi~tcln so~r~es ~us~s: T~rarisfers nit 4~,~~~ ~4,~~~ 54,p~o} -
F ~
~t in~r~e ire f~r~d ~alanc~ 1~~,~ 1,~,~~ 1,,44 1~,4~
Fund ~alan~~ - January 1 4,~,4~
Fund balar~ee - ~~c~m~a~r 3 ] ~,1 ~
CITY F ~CI~YiV CE1T,1V~~T
r ~
Thy ~ner~l l+u~t~ 6~~~~~ is leg~ll~ ~do~t~d on a Ca~sis ~~n~~st~nt ~~+ith acc~~ntir~~ prin~ipal~ n~rall ac~~~te~
in the L~nit~d tats ~f`meria. Thy legal 1~v~1 ~~budgtar ~~ntro] i at the ~~partrnnt ~ev~l fir the C~n~ral
F~~d. Ti~~ fgll~v~i~g i ~ litin ~fc~~l ~u~d d~part~t~nt~ ~vh~~~ ~p~ndir~ b~dg~t
a~~f~~fl~tl~i3~,
~ll~~~ actual l~ud~t
Iaj~r Fun~~:
~r~~ral l~~nd:
~~rcrrrm~~tl~~iCding x,44 ~,1~
~ir~ ~r~t~~tiol~ ~~?a1~4~ 4,)
Special l~~cnu~ Funs:
Carle ~r~~vr~ lncme~t Ii~triet l O,~C~~ 55}
Tax lnercm~~tt ~i~trict I~~. 3 8a~C~~ 7,~ 1],
7
T~i~ page in#e~ntionally left blink -
4
S
~~T~' ~
NQ.JaR G°`'~
95
. I~f~ ~l~~k
„ his ~~~~~~~a
p~i~l ~~r~~~ ~n~ i us~~ t~ ~~~n~ ~~r t~ ~ro~~~~~ ~f p~ui#i r~~r~nue ~ur~ #ha~ ~r~ 1~~11 r~tritd t~ pridit~ar far ~~if i~d purpo~~.
DEBT I f
Thy ~~a~ Sri F~~~ ~r~ tad ~o a~c~un~ f ~r t11 aun~ul~~i~n ~f r~ur~ fir}
ar~d p~n~nt int~rt~ ~rit~ip~l and r~~a~~d ~t ~t~ genera! long-fir ~bt.
PITS P~7" C~~
Thy ~pi~al Pr~j~t Fundy a~~unt ~~r fir~eial re~uree ~ .used for tai
ae~u~i~i~n ~r c~n~ru#i~n ~f major ca~i#a1 faili~ie~ ~t1~er thin ~h~e nand b
Pr~pritar Fund,
7
- This page ir~~ntl~nall i~ft bl~ni~ -
Arll1]Il SHEET tat~m~nt 1~ ~l~l~1J~> ~l~viEi'1^L F[3I~
December ~ 1,
Total
~nmaj~r
Special Debt a~ital ov~rnm~n~al
Assets: le~en~te Service Pr~~eet Fk~nd~ i ah and Enestr~ents 1,971,177 ,~l~,~o~ 1,,~~ ~,~4,171
eci~~bles:
~eour~#~ 47 - - X73
1e~in~uent ta~► - ~1,~1
>oe fpm othar funds - - 151~,~ 1~~,~
DuEr from other gov~rnm~nts - -
Adv~ccs other funds - - ,1$1~,~~ ,~~~~1~~ Total assets ,l~~t,1~9 ~,1,
~,E~bklltlG~ and ~~und l~alan~e
I~iabiliti:
~uounts pa~rablc l$,1~4 1,91 ~~,1~~
~llE~ tU Qtl1~r funds - - 1~,~~ 1~~~ D~~ to ot~~r gov~rr~mcn #997 ~ - X4,997
~►c~ru~d ~a! arias and ~vag~:s ~ , l - - l ,9 ~
l~ef~:rred revenue ~,7~
'i'ota! liabilities 4,~1 1~,4 1~?~4 591,
Fk~nd bala~c~;:
Deserved - ,~44,4~ ,i~,~~ ~,~,441 [1~tres~rvc~i:
DigE~at~d - l a9~,1~~ ],9~~a91~~
Ur~dignat~d 1,777,097 - ~ ~ }777,07
Tota! fund balan~~ 1,777,07 ,~~,~D~ ~,09~}~~ #x,43
Total liabilities and fund balanc~c ~}041,09 ,40, t,l~ ,1~05,~3
CITY IMF Bf1V E1TI~, ~rIi~VI~T
IBIiI~1 T~Tf;~r1L1~l~` ~F IF1~~[.]E, EFE1I~I~'C].1r 1~ t~t~m~n~ 13
H1E i F[.J1 ~1~L~4iF 1~f]I ~I11~1ITL F[1I
Fir Thy ~~r l~ndcd December 31,
Total I~onrnajor
p~~ial i~ebt ~pit~1 I~~v~rrimcn~al
ev~nu event~e ervic~ Pro~~~k ~ I~unds
Ta ar,d sp~~ial assessments 4~}1~ - - ~S~~l~~ Inter~vernmental 70, ,71 14~,~~? 1}t~}4Q
1~ ar fir s~rvi~e } t ~ - - ,1 ~
inv~stm~nt earnings 3#1~ 1,14 ~~a15 ~~1~~3
Ivliseellan~~~s - l~a~ ~,C~
Total rc~rcnucs 11,7 1~,1~ 1 i
Ep~ndi~urc: ~r:~r~t:
cr~craf oerr~r~ent ~ - ~}7 ~ X71
Public sa~ct}~ x,54 - -
Public ~vor)~s ~ - ~C,~~
Economic developmer~l ~~a7~ - - ~0~,70
a~ital outla}~: -
cncral go~crnment ~ - D,~ Fubfic ~~orks ~ - 4~1~ 1,~
Debt service:
4~rincipal re~irernent - ,3I1?~~~ - ~30,~~~
Intcst ~ ,7~ - C}'~C
Paring agent fees - 11,7 - 1 t,?
Tots! expend itures l , ~ ~ , 1 ~ ~?~4a~41 ~,1~7 l ~,4 1
1c~rcnue~ over ~under~ exper~dilur~s ~}71,~~ ~~~}~7}~ ~ ,3~)
~~hcr financing sources ~use,~~:
dale of land x,17 - - ?~,1~~
Transfers in 1,7,~~7 ?~~a3 4,~~D
Transfers out ~~7,~} - ~0?,5~)
Total other f nanein sources uses 7,17 1,7,7 t
het in~crcase ~decrease~ in f~n~ balance ,~1~ ~74~,I1~ I~~,7~
C~nd balance ~ January 1 ~ ] }4~ ~,I1~~,4~ 11 ~ 1 ~,~~?,1 ~ 7
Fund balar~cc - December ~ 1 Ala?77#~97' ,4,40 4,~1, ~,1?~~~
-..r--~~
Th icy of ro~llyn nt~r had tho f'al lowing ~~ia1 e~rnt~e Funds during tlt year;
H~u~sin~ and ldo~ol~~r~~nt u~thorl~ Fund ~ - This fund leas authority to ~y an ~
~ral~rem property tai f r ~1~ purp~ ~f ~r~duti~ h~utn d rdl~~rn~nt pr~~t.
Tho projects are auounted for in the Fund; all tai pr~ueds art transferred t~ that fund.
onornio ~~~rlopm~nt uthorit Fund ~I~. - This fund was e~ta~lihed to a~o~nt ~`or the
oonomio Ilo~nYr~t authority 1 of roa4lyr~ ~r~tr. Thy Ef arri~s out
dloprr~~nt tiitio~; It 1~a authority operate an entrpri~, The ark Brown ~~ritag~
tenter ~prat~s ~andr this authority ar~d a tatrnrit of its orations o b found in the
r~trpri find setton ofthis report. The ~ al ds rde~r~l~pmer~t and ho~~ng projet,
funded by an ad ~►alorn~ ~ro~rty tax logy a~t~d transfers from the f~ and ~ funds.
Tax inrrr~~r~t fistri~t 1`0, 4 Find ~ This fund has the autharlty ollot tax lt~r~rnont~
hi1~ are u~d for various rd~rl~prnnt proj~ts within the pity and fir debt service
parrronts ~f bind ~rhioh ~~~ro is~u~d ~`or the arr~ pur~o.
~olio~ Iru~ Forfitor~ Fund ~ This fund eras ~ta~li~d to account ~`or pr~p~r~ ndor gash
scid by ~olicc ~c~artrncr~t ~cronncl.
~mmunit Ic~rcl~orncnt ~lol~ grant fund ~I~~ - This fund was c~tablil~ed t~ auc~unt
for funds acid under FI'itlc I of the Dousing and orr~rnunit f~v~oprrxnt pct o~ 1 ?4.
~'ransfrs arc made from this fund to tl~c l~cor~ornio fc~rcloprnnt Authority Fund; projet are
accounted for in tl~c conot~tc ~cvclopn~cr~t uthorlty Fund,
itv Initiatives grant Fund - revenues and expenditures from grants rece~~rd from outside
entities arc aocouritcd for iri this fund. grant ~rograrns for inoludc oral public aft
grant, an r school nrichrucnt rcratiar~ grant and a lo~a~ panning assista~r~cc gran#,
1~I
-This p~~e inter~tiorr~Il~r i~f~ blanl~
1~
1 i' D~~1~ 11 1 ~i~
UBBI11l~f 1~1~L1~l~iL H~~T t~t~~~nt ~4
i~~J~I P~[L IL1~Ll~l~lF ~[Ji~1i 1~~~~~t~~r
Tata1
l~c~r~~rni Tax 1~~1i~ I~~nmaj~r
i~~v~l~pmer~t I~er~mr~t Iru 1r~~~Eati~ p~cia~
ut>~orit district For~~iture rat lev~nu~
l~und 4 Fund Fund Funds ss~
Cash and investrn~r~~s 1,~7~,'~ 1~~,~7 74,44' 1,x,177
~lccour~~ r~c~ivable - - 47~ - 47
I~~lir~qu~nt tas r~i►~able 10,E ~1~,
1`r~m ~th~r ~~vernmcnt~ - - ?3
~`~tal assts ] ,~0,1 l~ ] ~,1~ ~ 7 74,E , 0~ ~ }1~
I~ia~ili~ies and Fund B~lan~~
1~1ab111~1~5:
~►cc~unt~ pa~al~l~ 5~,~~ 1,~ 115~7~~ I~~,~4
iu~ t~ ~tlner ov~r~rn~n~ 547 - - - 4,~7
~~~~d salaries pa}~al~l~ 5?~~~ - - ~,8 ~ ,1 D~ferr~d revenue ~ ?l~ ~ - 1, 5,7~
T~ta! lial~ilitics 1,414 1a~~ 7~ 14,~~4 4,~1 arrk i
Fund balan~~:
Unnerved 1?~~~?7~ 1~,7~~ ~4,1~ 1~7,~ x,777,07
'1'~tal liabilities and fund balan~~ ~,O,10 ~~,DS? 7~~~ ,04t,0
1~
U1]~1~j~V11`f~.J 1 1 ~~J'~ 1 ~J~ ~~~L~IU~I? ~.P~1V~~ 1 Ul~l:,~j
i'12~l~iUirr.~►7 jlY l~`1~~1'~~ 1V~Ji~ J~l~if~~ ll~~JF
~ior'I'he Year ~r~ded I~e~rn~~r
Housing
and ~r.~~t~rnie
ede~elopmer~t )evelo~rnent
~4uth~rit}~ ~th~rit ~~~r~d find
ecnues: .
property ta~~es ~
Intergo~ernm~ntal - t}~
harge~ for services - -
In~estment earnings - ~,7C
isellaneoas ~ ,~0 ~`otal r~v~n~~s ~~,4
Ep~r~di~ur~s:
I~er~onal ~crvi~~s ~ ] ~#~S~
supplies - ,
crvi~ and ~k~cr charges -
~'o~al ~~p~nditur~s 0 ~3}4~1~
~evcnu over {under} uxpc~tditures 07,~~
ether l~ir~anein ,~~urs ~us~s~:
dale ~an~ - ?,17
Transfers in - ~7,~~
Transfers out ~~7,~4~ - ~'otal other lir~aneing sources ~uses~ ~0~}1~~4~ 1,~
~t incre in fund l~alanee ~ 1~,~~
Find balan~~•- Jan~t~r 1 - 1,~~,~~
Fund balattee - December 3 ~ ~ 1,4,'~
~~4
t~~m~nt ~
Taal
~a~ P~li~~ or~mur~it i~ lonmaj~r
In~r~m~~t Ir~~ ~~v~l~pm~r~~ Initiatives pi~i Di~kri~t I~~rfeitur~ 131~~~C r~n~ l~v~nu~
v. ~ I+und grant Fur~~ F~nd~
- 7,71 T 1~,~1 1,38
4, x,77 7I~~?~~I~ 4~,3~ 1,44,4
t 1 ~ ~ ?47 i
- ,I~~~ - 1 ~I~ ~ 8 ~ ! 7,7?
~,~~7 11,37 ~~1,I~I~~ I~aI~~ 774,389 1 ~~~}4 1~,~7~ ~~I,~~~ I~~,I 1,1?,~13
4I,4~ IT9~ ~ x,47 9~?433
- - - ~ ']~,1']
- - - 7~7,~4 - - ~~7,4~
4I,4~ 1?9~ ~ 93,47 ~}~~8
,7~ ~ 14?~1 1,411,48
1~,7 74a1~ ~ I~?,~I~ 1?77?,~?
t
- This p~~~ int~n#ion~ll~r l~f ~ bl~nl~ -
~Th its Il~t ~rvi Fund ~~~nt f ~r two ~f b~ndd i~d~t~d~:
n~rl bliti~~ ~~n~
T~ ~nr~~nt ~~nd
~t~~ra! bi~~~ti~n ~~nd~ Fund - This fund i ~s~ t~ aunt fir the
a~umul~ti~ri ~f r~s~~r l~~r ~~rn~nt ~~`~nr~l ~~li~~ion b~n~ n~ in~~r~t
thre~n,
Inremn~ ~~nd ~ur~d - This f~►nd is us~~ to ~c~ount #`~r the ~uul~ti~n ~f
r~~~ur~ fir payment ~#`ta~t ir~r~m~rit nr~l ~~jiti~~ ~o~~ end int~r~t
~hr~n. Th l~~r~d ~~rr ~Id t~ ~ina~ the ~r~hae ~ri~ r~d~l~~r~~r~t ~f the
hit~ri >~arl ~r~rn farm end ~tl~~r ~rari~u r~~~rl~prr~~nt ~r~jt i~hir~
pity,
1~7
ITS' ~ ~lI~~'1 ~~i'Y`~~ II~I~TA [Jlivi1II~lII~I ~GI~ Hi~ET` tat~m~n# 1
1I~4J~1 ~~~T i~Ri~ i~i~
Dc~~mb~r ~ 1~ 0~3
'1'otl
I~or~t~aaor
~neral Tai I~~bt ~bli~ation in~r~m~r~~ ~rvi~
fonds ~o~~ F~n~s
ss~t~
ssh and inv~strn~nts a~ i,~l,~~~ ,~~,1~3
I~Iinqu~nt ~s r~c~i►+a~l~ - 3~,~
1 ~L4~4 4+~4J ~J~4l~L~ ~a~la~]~ L?T~1!?1]~L
i,~~~bilitie~ sn~ ii~n~ Balsn~~
Liabilities:
~~~u~tt~ payable ~4~0~ 7~,']~~
I~ferr~d revenue ~~,7 -
'['otsl liabilities i, 4?~~~ I~?~
Find balance:
~s~rv~d:
1~,~erved fir debt ervie~ ~7,?~~ ~ ,4,40
'l'ots! ]isbifities snd find balance 1~4~1a~ ,45~,~
~D
llBI~ID11I 'I'11"1'1;C~T F >~F, ~f'I~II~jT[JR~ III Statement 1'~ I-~~1IL I FC~i I~LF
II~~IJI DEBT CIF F~~
Fir Tire ~~r Ended Dco~m~~r 31,
Total
I~~nmaj~r
~neral i~e~t
~~li~ati~n 1r~~r~rn~n~ ~rvi~o Bonds ~or~ds Fund
Revenues:
Ir~~erg~vernmental ,7~ - ~~,']i
Inv~s~men~ oarnins '~}~~4 1I~}~~ I , I4
Iota] revenuos 3I~~}?1 X0,30 1 ~,~7
~p~r~ditur~s; ~rir~e~pal 1,~~~,~00 ~30,0~0
interest ~0~413
]~isoal a~~r~~ ~e~s 1 ~ ],7
Total e~enditu~res ~,O~,1~ I,7,~ ,~4~~~1
~venu ever ~n~er ep~nditure~ ~7,1~~ 1,7~7~~ ~,7~,~~
~t~er finanoin sources fuses:
Transfers in ?71?~37 1?I~1?~~I~
I►Iet in~rea~e d~erease in fund balance ~,7~ ~7']r7~ ~7~0,0~
Fond balance - Jano,~ry ~ 8~i,7~ ,4 ,04,E
~{ond balaneo - Iec~mber ~ 1 07a?~ Ia4~,~~ ,344,40
I~
. a$«~ L~f~ al~~~'
I~i~ p$~~ ~"t~n~~a T
11~
h
fJ~I APITA~ PJI~T 1~Cl~
Thy pity ~f`~roollri ~~ttor ~iad tho folloit~ a~pital ~ro~~~ l~ut~ds burin the gar:
a~ital s~rv~ rnorori~r Fund -This fund was ~~ablish~d i~ 1 aour~t
~`or t~onis 1~~1~ ~n rsr~r ~`or a~as~r~~hi loss ~r unfr~s~n ~pital it~rns,
capital ~rnpro~~n~nt Fund ~ `l~hi fund ~~ra s~abl~sh~d in 1 proi~ find,
and to a~~ount for the ~~~nditur such funds} for ~na~or capital outlays
~r~ludin, but not l~rnit~d toy ~nstruti~n or acquisition ~f`~naj~r p~r~nanr~t
failiti~ hairi ~ rolati~l}~ long lifo; ar~d~~r to r~~uo debt inurr~~ fir oa~ital
out1~. financing yours ~fth fund inlud ~al~rrrz taxation, tran~'rs
from other fur~d~ iss~ano of bonds, fodral ar~d rar~t~} ~ instmnt
earning.
~aniinal tit Aid for ~ntruction Fund - This fund was estab~i~bd to count
for the stag al lotrr~nt asolin tax oll~ti~r~s used fir trarisportatinn related
ontrution pr~jet.
Earl ~r~v~ri I~orita~~ ~r~tr ~m~r~ment Fund - This find was e~tablih~d to
proved a stably ours of funds to pa~~ for ~~riodio a~pital irn~ro~ornr~t n~d~d
at tl~ f~cilit~.
tr~~t l~onstrutiott ~ur~d - ~'ororl~r the p~oial Assssr~~nt ~nstrution
Fund, this fund aec~unts ~`or the rsour ~ll~~td and p~nd~d in order to
r~ontr~~t roadways and appurtnans finan~d v~l~~ll}r or iri part b ~eial
aesmer~.
T~hnnlo Fund, - This fund, ~tablih~ in count for funds sit aids for
thnolo}~ irnpr~vn~nts or n~ajnr thnolog}~ r~no~rationlr~plaments,
11~
~IT~' BILE E1TE~, ~Vil~l~~~"
llBivtl111 >i~>~ HF,F,T I~I~ 1~l~jTI~ I~J~~" Fi~D
Dc~~~n~er ~ 1} ~0~
~pital
~,~~rv~ capital Emcrg~~c}r Impr~~rem~n
b5~t~ Fund Iiund
dash and investrn~n ~,~7 0,10
Duc font ~th~r funds 1~~,~~ -
dvan~~ t~ ~th~r funds 7I~,~ ~~,00~
Total ass~i 1 1 x791 a~ I ~
I~ia~ili~ic~ end Fund ~alar~c~
~.iabiiili:
runts payable 4, ~4,~~U
~u~ to nkt~~r funds Totai iiabilit'r 4,~g~
Fund ba~anee:
Reserved:
Advances t~ a~h~r funds 7~}~ 1~,~~0
[Jnreserved:
r~d~sig~at~d C,~4 ~,7~0 Total fund l~alan~e 1,~~C~~7~ 1,77,730
'I'~tal liabilities aid fund balan~c 1,0, 1,?I,~1~
#~t~mcnt 1$
iuniipal ~ar~~ l~r~~vn Total
ta~~ did H~ritagc nnm~J~r
fir tw~nt~r t~~et twapital tW~r~struc~i~n ~rr~pr~v~m~nts lc~ontr~cti~n T~chn~l~ Pr~j~~t~
]{und Find I~ur~d rind Fund
f~~f ~ L~li7~~~~4~
I1
CITY I* BI~~ILI~ EIVTI~, iVII11~T .
~J~~~Ii1 T~►TEiIEI~T i~ I~I~[~Ii} l;.pC1~II~]TF ~F FIB BALANCE
~~rfJ~ I~ITAI1 PII~JE~" F[JIi~
Fir Tl~~ ~c~r Ended December ~ ~4
capital
deserve capita] Em~rg~;rte}~ Impr~~rements
Fu~td 1*ur~d
cvo~ucs:
Int~rg~vcrnmen~al - -
Inv~st~tent carnins 1,4~ 1,4~
Ivfislla~c~us - i?~~
'~'~~al revenues t,~ ~~,~D
~~cpenditures;
personal services - 74~
supplies - i4
Services and ether ohares ~~~,3~
capita] outla~+ - Ida?~4
`('~~al expenditures 4,~~ 8,~4?
revenue over {un~e~~ e~►penditur 7}0~
ether ~nanein~ s~urees us~s~
Trans~`ers in - r
Nut in~r~asc d~~r~as~~ in fund baCa~c~
fund ~~lan~~ ~ January 1 1,7~~,7
>~und balance - iecen~ber i,7'],70
114
tat~m~nt 1
~riuni~ip~l Earle Br~~~~~ ~"~~al
tote ~41d H~rit~ge 1~nmaj~r .
fir en~e~ ~r~~t pil ~~ttru~ti~n Irnpr~~rcm~nis ~constru~i~n '1'~chn~l~g~ ~r~jects
I~ u nd ii end an d Fund i~ ~ttd~
- - - ~ 1,~~
1~~,4 1,~ 0 ~ 1,~ t0
- - - - 74~
- - - - 14
~~}LL`s + ' ~~y
i
f Y~ T~ Y! V i+ T~ a V V~~ T M 1 ~ Y V V iF~ V ~~~i/
~ ~
IT F Bfl~~'!~ ~{['~~,1Vf~iiET
PETAL E~IE[J~ 1{ ~ - H~Jl1 I~1D REI~E~L~P~'T 111~TI~]IT FLT~D ~~tem~n~ HED[JI~E 11~Ll~JE, F~~IDITCJE AiD
~I~iE ll~,i I{ ~J~ 1~LIF - B~JDET AID T4~L
l~~r ~'he Year Cnd~~ I~~~~mb~r ~ I?
B~d~t~:d ~lmoun Actual
ri~ittal F~ina] Amour~t~
I~cv~r~ue~: i~r~p~ert ta,~~~ 07,1 ~~,1 ~ ~7,~~
~p~nditurc - - -
I~v~nuc~ a~+cr cpenditu~re ~~,1 X07,] ~7,~4
tl~~r ~nancir~ ~cur~c~ '!'r~ns~c oust (~'],1~ ~~7?~54)
I~i~~ in~r~c in Fund ~~l~~cc U ~ - F
rur~d bal~r~cc y January I -
l+und b~l~ncc - ccembcr ~ ~ D
PEIL IC~J~ F[~ - EI~1II ~E~J~I,I'EiT [JTH!'1' r~JI #~tement H~l~IJLL EF[~E, ~PI~II['~'1~E A~
HIS 11 F~I~ 1~LIE - B[J~~T ANA ~►T~J~►L
For Tl~~ ~~r Endud D~c~mber ~ 1 r
l~ud~~ted ~►rnount ~t~al
riinai Fins] rnoun
~vcnuc~: Prop~rt}~ t~s - - ~
Ir~t~rg~v~rnm~n~al - - 1$~,~
fiell~r~~ous - -
Tod] revcnuu~ ,S~ ~,~U 7,~
~~~r~ditur~~: urr~n~:
~~~r~al ~rvi~ ~,~4~ 1~,~4U ~4,~~
uppli~ ~,~5~ 1,~~ ,
uric end other ~h~r~e,~ ~,I X35}~~~
Ieht s~rvi~~:
~nt~r~~t - - 7~
Tots! ~pcnditure 0,~~#1 ~,~41 ~~,~1$
uvenUC~ o~rcr u~tder~ ~p~ndi~ur~s ~4,0~ ~~,~1
~h~r financing urges nest:
dale ~fland - 7~?17~
Tran~fer~ in ~ X7,1 ~7,I ~7~54
Tots] ~thcr f~na~~ing sources ~u~es} 0~,~5 07,i~ ~1,~~
1~~ ir~~r~asc d~~rc;~e~ in fund balance ~5,~~ 1}~0
Fund balance - January 1 1,~7~,~4~
Fend balance ~ I~eemb~er 1 ~ }4$}?
117
~'II1~l~ C~l~ F[.]Ii - TIiFT 1ITIT 4 F[,Tl~ t~tem~nt
l-1LDllL~; I~ I.~1~f~[~~} C~~I~IT[.J]F Iw1~A1~ 1 ~~I I~~1L11I~ - B~Ji~FT I[ A1'AL
l~~r'1'h~ ~~r n~~d i~~~mb~r ~1,
Bud~~t~d Amounts Actual
ri~i~~l I~ir~~l 1~m~unt~
~v~nu:
~p~r~~itur~~:
~rr~n~:
P~or~al ~~~vi~~~ - - ,11~
~rvi~es end ~t~r ~ar~~ - - 1~7~
~~bt ~~rvi~~:
Int~rt - - 4
~'~tal cxp~nditur~s ~~4~
]~v~[~u vv~r ~~~n~itur X119?l ~ ~,4
I~ur~d balar~c~ - ~ar~uar I ,
F~n~ balan~~ - ~~~~mb~r 1 ~ O,?
~1
P~li~ - ~~I~ItwE Dl[J FFEIT[~l F[I~ t~tern~n#
H~~~JI~~ F I~[,J~, ~FEI~DIT[1E ~►D H~ 1 FLED BI,~ ~ B~JD~~T ANA T[JI~
Fir The Year ~ndcd I~~cembcr ~ 1?
B~d~~t~d m~u~ts ~tu~l
original Fina! Amount
Iev~n~~: Forf~it~d ~ru n~or~~ 7,71
ir~v~~~rnent rn~~~ - ~
Ependi~ure~:
urr~n~:
ervECe~ and other ehar~~,~ ~,0~~ 11,7
twapital ~utla 1~,~~~ -
Total expenditures ~?0~~ 1~,~7
i~v~nu~s vvr ~p~nditur ~ ~ t5}9
~ur~d balance - ~a~ua~ 1
Fund ba~anc~ ~ I~c~r~b~r ] 74,18
11
CITY ~F BRII~~'i 1TI~I# ilii~ST
SF1IIAI1 ~~II~[JI~ ~lJl - l~iCv~[~I`I' I~1~~L~1~I~rf~I~' 1~L~1 R1T F[JII ~~tem~nt 4 SHEDUI~~ ~F I}Elll~Sa ~P1~11I~1'11
I~iES I I~ ~1~ Bl~iE - B[~I~T ~11~ T~JAI,
I~~r The dear ~r~ded I~eernber ~ 0~~
B~d~~t~d Amounts A~~ual Y
r~~~n~l I*~r~al rn~~nt~
~v~nu~s: In~~r~~vcrnm~ntal:
F~~~ral rang ~~a~~~ ~la~~~
Epcnditure:
~,rrcnt:
Services and ether e~~rc~ ~1,~0~
Revenue o~+er e~cpendi~ure 1,4~ 1,44 ~
Fund balance - January I -
Fund halve - I~eecmber ~ t ~
1~
IT i~F Bi~IIt~'I~ E"~~ly I1~[Ii~T~►
P~i~4I~ REi~~ i~ C1>~ - 1'I' jl1TIT~~ RI~1~' FUII~ t~t~~~n~ ~
OF E1~ElC]i~, ~1~1~1~ITUIF ~ ~Ai~ I F[,]D i~~4L11I~L - ~[1I~1~T ANA iwT[Ji1
For Thy car 11n~~d ~eernb~r ~~3
Ba~~~t moon ~►tual
i~riinal Final ~►~~~nts
Iev~nu:
int~rg~vernm~ntal - - 7~,~~
Ir~ve~tmer~t c~rning~ - -
~vii~~eilan~ou~ 5~,~~~ ~,~00 ~~}1
Total rc~nues ~~O~D ~,00~ ~
E~~c~diiur~s: i~urr~r~t:
P~r~~nal services 8~~~~ ,~00 ~,~47
~rvic ar~d ~th~r ~~ar~s ~~,QO~ ~~,~~0 1,53
1~~ increase d~~r~~s~ in fund bala~c~ ,~7
i~ur~d balar~~~ - ]an~ary I 14,E 1
1*und baiaric - I~e~ernber ~ ~~7,3$ -
- This pa~~ in~~nti~~~il~r l~~t blank y
1
J1 I~T~PIIE FCJ1
Thy pity ~f ~r~~lr~ ~n~r h~ the f~l~~rin n~nr~~~~r nt~r~ri~~ ~un~ ~~r~n year:
.elin~ and .fu ~u~d - This end ~~~nt fir the ~prtinn ~f t~~e-
mandt~d r~~lin ~rnr~rn. 1~~~ni~n into r~f~~ ~~~~t~~n ~il~ ~a~ p~
~nl ~l~~n t1n~r j a l~r dn~ ~o ~e ahi~~r~d b}r it.
trek Li~h~ ~Jtility Fund - {I'hi fund ~ r~t~d t~o ~~~unt fir ~pn r~~~~d
tr~~t~i~t it~iin ~1~ it. lnfitin pr~~~rti~ are bi~l~~ fir they ep~n~.
[~3~1~iIlI~Il Ti~TFI~rT F ~T ~T t~#~m~nt
iI~,iil~lJi ~lTERI~IiF F~ I~~~cmber ~ t# ~~3
'1'otsl
l~nt~a~or
)~lin~ and t~~~t Light l~nter~ri~
F~r~~ Uti~it}+ Fund 1{und ss~;
ash and ~a~ quiv~~~nts 4?,~~~ 7}~~ 1,~
~4coun r~~~ivabl~ - yet 47a~~ 1 ~4+1~8
Tod! ~4a1 1~,5~1 1,
Liabilitic:
~~~unt ~a}+ablc ~ 1~ 1~7 ~,~71
1~t as~~~s:
'l'ots] nit a~~ ,37 1 ~ 44 ~ 1 81
14
B~viBII~I TT~T 1~L1~~;[J~;, L~CI~, t~t~m~flt ~7 AND HIE I F~]~D I~~T ~T
I~JR ENTERPRISE FLTII~
For Ti~u Year E€~d~d I~~~mb~r ~ t,
T~i~l
~nmj~r
le~}►~l~r~g and tact ~,~~~t Ent~rpri~~ R~fus~ Fand Utility Fund Fun~~
~p~ratin~ r~v~nu~~:
ales ar~d user f~~~ ~,~?1 U~?4 414
~perattn~ ~p~~s~s:
u~~li~~ 1~? ~~4 ~1
I~surar►~ 17~ 7~ ~~4
L~[tl~tl~s ~ 1~?4
Total op~ratin~ cp~n~~ ~ ~~#7 ~ 1~7,~ 7~,7
pcra~ing inoo~~ lo~s~ 1~~~) 1 41,3
~r~~ratin r~v~n~ ~~cp~r~s~s; ]r~vslrn~~t e~rn~~gs
hang in ~'a~r ~~l~c ~fin~restmcnis ~4~~ ~4~
' tl~cr ~~~rc~tu~ ~,~7 ~,~~U 1,4'~
~`otal ~ona~~rati~g r~~~~tucs ux~c~sc~ a47~ 1~,7~
~~n~~ err nit sit ,~4
pct a~ - I~nu~ry 1 1,~~ l~i,i~~
Pict a~~ct~ - D~c~crub~r ~ ~~,~7 i ~,~4~ t7, 1
F
1
I~"~' F BI[1~'Z~ ~1~~`~,11~I11~1ET
+UI~iiv~{~lylF 'l'~'}1'r~ivil~~571'}1'}7~{iy'~ H FL1U tat~m~nt
3 l~i 4~~1~i~ iff i'iJi ii Liiif J ~f 1 +i~Y I~or'1'h~ dear l~n~~d I~~c~mb~r ~ 1, 00
~'o~al
1~r~~n~~or
i~~~lir~ and ~r~e~ [.,iht ~~l~rp~i~~ ~~us~ Fund [Jtilit Fund Fu~d~
sh flo~~s frorr~ opera~it~g ac~i~►i~i~s:
e~~ipts ~ror~ c~~om~rs 1,~ ~~,4 4~~,
~a}~m~ni suppliers ~i~4
Iiisc~llan~~us rv~nu~ 7,~7 ~ 171
~i gash llo~~s from op~ra~it~~ a~tiviii~s ~,7~~~ ~7~~~
as>~ flo~~s from ir~►+~s~in~ ~tivities:
lni~r~s~ ors ir~v~s~m~r~~s 1,5 ~
l~~ ~nreas~ 1n ~askr ar~d ~h ~qulvai~r~ts ~?,i]~ ~l,~i
and ~h ~~uival~nts ~ January 1 4,~~1 4,~
as1~ d gash cquiale~ts - ~e~ernb~r ~ 7?3 1~,
I~Ian~ash items:
)~ang~ ire fair ~a1u~ of ir~vs~ments X44} ~4~~}
~pita~ ~r~trib~li~~ - - -
l~cor~iiia~ion of operating ir~~om~ to nit gash provided ~us~d~
b op~r~ting at~v~tt: p~ratlr~g inco~n~ loss } 5~}~ 5~}t~
djustm~r~ts to renil~ operating in~om~ floss} to nit ~h provided
b~+ ns~d ford op~ra~ing activities:
hane~ in asset end liahili~ies:
i~erease inerease~ in receivables 1~0~~ 1x71 a~~7~
lncrease deereae in parables ~1~ 11,5 ~I1?4~~
ether n~r~epera~in income ~,4 ?,~4? 11x571 het easy fl~~v~ ~`r~m op~ratir~ ae~iviti~s ~~3) 1, 1,~4
11~lTEl~1L I~1I F[.1~
Internal eri~ Fund are ~d t~ mount, on of reimbur~errl~nt hair fir the
fna~nin ~~`ood or ~ervic~ pro~ridd by one d~~ar~tnnt t~ ~thr department ~f `the lt.
o~ronu and p~n~ in they fund are re~ni~d on real basis
aec~untin. Ines art ronid in the a~aut~tit~ period in which they are
~arn~d and b~ot~~ rnaural~l. I~pe~dit~res ire re~~riid iri the a~~untin
period in which they are in~urrd,
Thy its Ir~trnal ric Funds inoludd in this s~~ti~n are:
Puhli I~rnpl~~►~s ~n~~nsatd bs~n~s fund - This fund aour~ts fir payment
~ ur~ued nation and si i~a timc and the allocation ~f Huh ost t~ user
departments.
Public ~mul~~rc~s Itirmnt Fund - This fund counts fir rtin health gar
it~surancc bencfits fir pity cmpl~ees why rctire be~`or age uhstanttally all
of the jty~s full-tine Pali and r ~rrwpl~~s ar~d all other dull-timc emploec hind b~f~r Jul}r 1, I may lie oliiblo for th~s~ bnt frorri the ti~no they
quality fir an unr~du~~~d ~ p~nsior~ until they r~a~h age ~r ~ec~rne
oliih~ fir ll~edicarc. In the c~cnt that fut~ar~ ets ~v~uld ~~d arnins, other
finds +~uld b~ hand ~r the opts a~oiatd with ti~ir rnpl~yecs.
ritral arao Fund - This fund way stabfih~d to a~~ur~t ~`or the acquisition
and maintenan~ ~f all pity ~►hil and roiling stoop qutprri~nt, ~hil~ and
~quiptnont rrwaintnano, repair, and r~plamunt will ~ pr~~idcd f`r~m renal
rates wl~ih the ntral arc bars pity ~pratir~ d~partrnnts f ~r use ~f the
q~ipmer~t.
1']
[~1~1ll~l1[l] 'l'A`l~Ll~lil~,i'!` A1~T ~~tCID~II~
ITE1~A1;~ l~ll~ l~ll Dcccrn~~r ~
7l~ ~ 7~3 7~4
~~tral EE l~etir~ment EE damp
ara~ ~~ne#it Ab~ence~ Taal
Ass~t~:
aunt assets;
dash and gash egaival~nts 4,541,E 1,~~,7 7,418 ~~~1?1~~
ce~ur~t receivable - ~~t ,4 - - ,49
lnve~torles ~ at post 14,8 - - l~,$5
Tats! current assct~ 4,559,74 1,Sf,? 75,418 ,91?~ .
~ncurrent wets: capital ~ct,~:
lvia~hinery and e~ai~men~ 5,8l~,? - - ,1,7
Lis; All~wa~ee ~`~r depre~lati~n (,'~8,4~~ - - (,7}~~
let capital a~~et~S ~~8,~~ ~ ~
T~ta~ a~ncarren~ sc ?~38a3~ ~ ~
T~ta! a~~et~ ~a798~~7 1,4,3? 79,418 ,ll}~~
l~l~l~l~ltl:
current lial~ili~ie,~:
cc~ant~ payable 11?S 1 - ~ i 1,~1 ~
c~rucd sal~ric~ pa}~ablc 10}~ ! - - 1 l .r
Tat~l current liabilitic,~ U ~ r i~ncurren~ liabilities:
a~npensat~~ ab~er~ees payable ~ - '],~7 7~,~
Accrued health insurance iiabilit - 1x547? - 1,4'],
Total noncurrent liabili~i~s ~ I,547,35 78~? ,~0,4
T~tallial~ilitie~ ?3~5 1?547,35 78~,~7
1~1et meets: l~t~rr~t~d in capita! as~~ts, net ~f rclate~ debt ~}~,3~ - -
[lnre~ricted 4a57~~~7 17~t4~ 1,l! 4,S~,'~~8
Taal r~ct assets ,~7~,~7 17,i4~ ~}191 ,D#D
ITS' ~1f~1 ~~iTl~l, ~Vf[11~'~ []~BII TT~~1T LI~LI~lU>~, BPIF ~ ~a~eme~t ~0
I•I11I~ i1 I"~.]1~ ~T
I~~~ ~~r~i~ r~Ir
For `I~~e Year Ended ~c~cmC~cr 1, ~D~
70~ 7~ 704
antral e~irerncnt
ar~~e I~enelit 1lbsertee '1'oi~E
~p~ratir~g avenues:
charges for serv ices 1 a~ 17#~ 1 - - 1 ~I~ l x,71 I~ i Y
~p~cratin C?~~~I~~~S; personal services }77$ ~I~,t ,t~ 3~ 1~ I7
applies t~~ - - t~}~C~
ether serv ices ~ 4~~ 1 - - ~ 4 r~ 1 I~
Ir~s~rance ~,SI - -
Utilities ~~1~ - - f7~
Iepree~at~~n ~7~ ~ - }70
~"otal ape r~ati ng ~xpcn~cs 1,~7, ~ , 1 } l 4 1, ~ ~ x,40 I
~p~ra~ing in~~m~ ~C~ss ~,~4~ ~3I~,I~~ ~,14~ ~94,~
1~~~p~~tir~ r~v~nues ~p~ns~s~:
Investment earn~r~gs ~,1~ 10~,~~
fain ~loss~ on sale ~f~~~ yet ~,I~oI - - ~~~I~01
~~C~er revunu~ ~ - ~"~tal n~n~p~rating r~v~nucs ~cpcnse~ 108,175 1,11 1~~#1~~
han~,e in nit a~s~ 11}7~ t3,~?I~ 1~}~~~ t~,?I~o~
I~t ass~ks - ~~nuary 1 ,~?,50 ~ ,1 ,5~,84I~
I~,ict assts - ~ecmber 31 ,7'5,7 ~ 7 17, ~ 4~ ~ , ~ I ~ ~S,~I~
IT1' F ~.I T1~1~ 1~1~~T
1.~1~I~]I~1 TTEII~E]T OF I~ I~L~~J tatcmcnt ~1
ll'1'~1I~I~ ~li~ ii~.Ti~1I~ E~or Tl~~ Year Er,dcd Dcc~m6~cr ~ I, ~0~
7~ 1 7~ 714
cntral EE l~tir~mc€~t Vii; orn~
ara~~ ~enct hscn~cs T~t~~
dash tl~s ~`r~m ~lratin~ activlkics: 1~~i pis f r~ m i r~#~ ran ~ ~~rvic ~rov id~d 1,~ ~ - 1 }03,4 ~
I~am~n#~ t~ s~pplicrs ~7~~ , 17 - 4,~~~
~a~~m~n t~ cmpla}~c ~~,~7~ ,44 l ~4r~
i~s~l~an~~~~ r~vcn~c }0 {l~,ls ~4}3) i
~k from ~p~rating a~ki~i~ics 'T~,7~ (4,1~~4~ x,10
h ~~~~s from capital and rclat~d f~r~ancir~~ activities: ~~uisi~i~n and con,~trncti~n ~f ~a~i~al asseks ~ l~}~~ - - ~t1,~,01~)
dash ~i~~vs ~`~m invoking act~viti~s:
lntcrest an inv~s~rn~n~s ,I 1~ 5,7~ 1?,~54 1 1~~
ct inrcasc in ch aid gash ~~uivalents 4,~ 1~~~1~ ~~}31,~
dash and ash e~uival~nt - Ja~~ar 1 4~18~4~ l,74, 7~1,~~ ,~4~11~
dash and gash cy~ivalcnts - Dcccrnl~~r 1 ~,1,~ 1~~,~~ 7,41 ~?~~1,1
icc~n~iiiakion of op~ratir~ ir~~am~ to nit ~as~
pr~~rid~d ~us~d~ ~ o~eraiin ackiviti:
~p~rakin~ in~or~~ ~l~ss~ ,44 ~~1~,~1) {,I~~ {4}6~ dj~sim~nts k~ r~c~ncil~ op~rat~~ in~~mc ~l~~s~
t~ n~k cash flows from o~cratin a~kivitics:
l~cp~iakion ~~,7~ - - ~,?D
han~~s irr ass and liabilities:
l~er~as~ ir~r~as~~ ire rc~ivabl~s 1~ Sa~S - }7~
I~cr~as~ ~incr~as~~ ire inv~r~torie..~ - ~D
Incr~as~ dc~r~as~~ in pa~rabl~s ,i~~~ ~~?l4~ ~,I~ Inr~as~ decr~as~~ in acrucd cpcns - -
kher nor~op~rakir~g income ~lU,I~ ~ ~4,~)
Tcta] adaustm~nts ,7~
ch pr~vidcd b ~pcraking acki~ikics ~~,~71~ ~4,1~~ 4~ 7~~ ~,I~
l~
DTI F l~lIT~
4,1 i i' ~iLL~11 i:r11 1 1
HE~[JL~ ~ AP1T1, ~4~T [J~i~ T TAE ~PFTI1 t~#~m~nt
~F ~E1~~TL FUI HEI~~JLEB ~i~~
For Thy gar ~nd~~ I~ec~mber ~ 0~
~alar~~
~~lan~~ i~~tatu~ J~nu~ry la I~alan~
January fir I~cm~er ~ 1, I~cs~ripti~n ~ ir~fras#ru~tur~ a~ rt~t~d ~ ~1ddi~i~n~ I~ele~ion~ X003
Land ~,9$,~4 - 3,~~,9~4 - ~~~~}904
U[~5trl]Ctl~1~ 11~ pr~r~'.s - lal~}~~~
~uildi~s and impro~~m~n~ ~,,~7~ - 1,~}~70 1 - 1~~~~8
arl~ im~ro►+~m~nt ,9~~141 - ,9~,14~ - }09,41
~epartm~ntal equ~~m~nt ~4~,?4 - ~4~}74 4}~ - x,49
~re~t~ - 1~,~4~,1 la~4~,1 1,71,37 - 1,71,98
T~tal~ }~7~}~1 ~~}}0? 4~,~7~,~~8 ~,~0,84'] ~,4,4~ 44847,3
invtm~nt~ in ~r~~ra1 F1~d ~t~ from:
~n~ral ir~d~bt~~r~~~~ 1~,1 x,11 ~
~n~ra1 ~un~ 7~3~#
Liquor story in~um~ ~ 4~,~ 1
a~it~l Projc~t Fu~td~ F~~era1 ~rant,~ ]
~`~tal invcstm~n in ~nera] find assts 44,4?,~~
IT ~F B~~I~.1'1 EIVTE,1~'HiVI~~~'A
API'I`AL AE'I' [JEI 1 THE ~~EIA~"I~ tatcrr~cnt 33 0~ OII"~li~ F~J~ND
HE1Ul.E ~Y FCTiTIO A T11TY
~cccmbcr 31,
l~uildin~s
on~t~uc~ior~ and F~rnitu~c and Fur~ckian and Activity Land jn Fro~res~ } lm~r~ovcrncnts ~~n~rovem~r~~s ~m~r~t ~~ts 'Total
erycral ~ovcn3menk 1,1~4,47~ - ,77~,~~ - 3~,~~ - 4,~~r1~ Pu~fi~ ~afet}~ 3~ 1,~~3 - ~,~~~,~~4 - ~~8,4~ - ~,~~7,~~9
Pu~lio works l - ,1 ~,~i - 1 x,71 ~,4
Fark~ a<td ~crcati~n 1a1~3?~ - 4,43}~i? ~,~4~,4~] - ~~~6~,4~~
ons[ruction in ~~oress - ~7,~~ - - - - 7*~~
't'otals ~,~~,~U4 ~~7,~ l$}~~~#~9~ ~,9~~,41 3~~,4~~ 1~f71,~~ 44,847,E
CITY F B~IL~'l ~1T~, ~~11~1~T
P~T~►i, ET lll;Fi~ !1 THE ~PTII tat~t~e~t ~4 L~~~~4~ J~~~
~IDIJ~~ ~i 1~~111~1F1~ FUTI~I ~iI~ TI~lIT
I~~r'1'h~ ~~r ~n~~~ D~~emb~r 31~
B~lc~ Bala~~~
January 1, Dc~~m~cr~~
Fun~~i~n end ~4ti►+i~}~ q~~ ~diii~ns I~~letions ~ju~trn~[~t,~
~n~ral g~v~rr~m~n~ ,~~$,4~~ 1~,~ - 4a~~~,1~
Ibl~~ ~af~~ ,81,5 1?~~~ - ~ ,~7,~~
P~bli~ ~~~r>~s ,x,87 ,?~0~ 1,150,4 17,77 I,~74,~~4
Far1~~ ar~d r~~re~~ror~ ~,~~,~?4 ~7,t4 - - a~~,48~
T~tal~ 5,075,8 1~~4~,~~ t7,C,~7 4~,8~7,~
~4
III. STATISTICAL SECTI[]N (UNAUDITED)
135
ITS' 8~L~' ~1T1+~1~,1ViIl1~~~"
~~~3
~~In~u~it~d
Fi~~al en~rl l~ubli Public ~rrrmuntt}~ ~ar[~s and ~~n~m~~ ~n- car* oer~ment af~~ ~r eries ~rti~r~ ~~vel~pm~r~t Dcpartm~n~al
7,~~~,~ }~,4 1,'],~~ x,14
*ro~r~rn~c:nt-~~r~d~ exp~r~s~s are r~~t availa~vl~ fcr ~ ~ri~r t~ ~D~
Tnbl~ 1
Ini~t ~r~ ~r~~vn t~cr
Lin-'1'~~m Municipal old ~~rit~~~ ~t~r anit~ry term E~tt~rpris~ Ie~t Liquor ~ur~~ ~~t~r ~Jtili~ ~w~r ~raina~~ F~nd~ ~I'~ta~
X4,7 ~,1~~,1~ 1,4, a~7,~3~ 8~~a41 ~7~,?~ }?1}~~?
h
i~
CITY ~I~ 1T~~,1Vf[11~'~►
1~~1IET-1~i[~~ FFi~
00~ ~~1na~dit~d~
P~r~m ~v~nu~~ h~r~ ~p~ratin~ apitaC
Firl Fir rang and Crams and Pr~peerty
~~r* ~rvi~~s ontri~utio~s or~tri~utio~~ T`ax~s
1~~~~?1~ 1,?,~~ lad?x,134 1~?4~7,~~
. *o~rer~rr~ent-wide e.~pen~s ~r~ not v~il~~l~ for dears prior
Tale
en~~al l~v~nu~~
r~~ aid
a~tribu~i~r~~ I~~t tri~~~~ [Jnr~slrict~d air ~n
Tax ~.,~~i~ t~ p~~ifi~ ir~~restment off`
ir~r~m~n Ta~► Pram Lar~~r~~ ~ix~~ thcr T~ta!
1~7 1,41,E ~r~4 9,7 ~,8~~,~
1
0
I.a~~ 7'ert Fiscal eats
l~dmin. Other
Final cncral Fu~lic Public ~rnmuni~ Par~:s and E~anomic Inn- ervi~ rinan~inl
Yfinr overnmen~ af~ty ~1~~rk ~r~ric Racrtinn i~~v~lnpment I~~partmcr~tal R~imb, Usc~ Total
1494 X1,4,3 4,49,4 1,S6r~14 X41,445 ~,~~,479 194,48 ~1~,7?9 ~~8,84~ - 4,4~,~~8
1 x,9,978 ,598,G l I F~S~,~B 41,146 ~~~,1 ~ l X49,6?6 ~ 89,747 {6~4,4~7) - 1 ~,~54,447
194 1,9~$,7~~ ~,~~~,34 1,649,56 78F44 8~,4~4 ~~l,G(l~ ~17F148 ~611,34~ - 1~,4~8,34~
l7 1,44,51 ,0$9F~~~ 1,~8,1~4 7,844 ,~86F~86 ~48F77~ i~,43~ (6~1,~8~ ~~4,67 ~1,7~4,7,3~
1774 1,133,QL ,1~~+~~~ I,7a4~8 1~a~6~ ~,~f~r48~ ~~~a+74 ~~~a6~~ ~f~~FI~F~ 4a~~laU~4 4~,~7a7~
1494 ~,~~7,~~~ 5,3~~,~~ 1,9~4,~~ 83,95 ~F1~,11 ~8~a~+ J~J~7"#. ~~+~F~7~~ ~a74,~~7 ~F.7~~~74
1 L,4~1,~~#~ ,437,~G~ frF I 7~, J ~ FIG I aU7~ ~~f ~U~ ~ ~ ^1~~~7 ~ f 7a~~~~ I ~~~frFt.74 J ~}~P4~,ti1~V
X41 ,5{~4,~9~ ,G~,~L14 ?,1~~,4 1QG,434 ,45,41 ~4~,8~ ~7~F~5~ (77,1)4) 1,1,8~~ 14,77F34
~V1JL #i~~~+41~ ~,184,b~3 1,9G,~~ 1~~F441 #~,ti1L~F~ti17 ~~~F~7 ~~~F~~6 1F9~J,3~~ 1~,4~,1
~,4~7,8 ~,~?x,875 1,~49~44~ 91,81 ~,~6~,~34 31 G,~~~ ~~~,b48 ~~07,~~ 1 ~ ~t 144,66 14,816,~U4
~a~ Tabla incl~d~s n~ral Fund ons}~.
our: ~i~ Fis~arti I~~par~m~nl records
~~~r
~iisc~l Li~~n~ l~ti~r- hares ~~r ~ur~ I~ir~ar~cin~
Year Tars and P~rmit~ ~~v~r~mcn~al services f inns ise~lC~nc~au~ ~~rces Total
1 }7~~,77~ i'T,~~ ,44,4? ~5}~ 1~~,~73 ~1,7~ 1~~,1~~~ 1~a7~5a?~
1~ ,1~,~77 4~,~C~~ ~~~,71 ~1~,7~ 1~1~}OC~C~ ~t,,04
]7 41~5~~~ ~,1~,~~ 7?,~0 1~~,7~ 4~~?l~l 1~C~a0~~D 1,14,E
7,4?744 54,17 ~}1~7~}~ 7~i,14 i}~~ 41~ - Ida?4,4
1 ~?1~,4~1 7~,~ llr4$C1 7,~~4 7~?4U 14,E - 1~,~3~,78
~~1~ 1~,?45,17 3a4 ~,~7,1 ~7,~~C~ 1~0,~ ~4}74~ - 14~~~~~
~~D1 ~,411,1~ ? 4}~~~}~ ~~~,4~ ~,41~8 ~7a1~1~~ - 14}x171
11,57~~C1~ ,5~# 7,'T4~ ?~,7 1,~ - 1~,~1,~~
~D~ ll~a7~~a~7 $~~#5 l ~0,4~ ~1~,41 ~ - 14,~1~,~ 1~
tats aids ~~r~r~ r~du~~d #'or oitics i~ iii ~vere perrnit~~d t~ ]ov}' baoC~ t}~e aid r~duo~i~ns ~vithin ~p~cifi~ limi~ati~n.
1~I~~e: Ta61~ ir~~lud~s oncr~l I~un~ onl~r.
~~rc~: it}► Finan~~ I~c~artc~ti r~;rds.
~4~
t'~` F ~1~ 1~I'f'1,11+iIIVIVT
P~1~1L ~iFI~T ~]I,~I~l1~1 AI~11~ I1LETI~I T~~l~
~ast']'~t~ l~iscal ar
CJnaudited)
F~r~~nt
urro€~t allocti~r~s Taal
p~~ial P~r~~nt oll~~ion oll~~t~~r~~ ~{isa] Ae~sr~~nt ~f of 1~rior Total ~o ur~~r~t
Year ~illin Amount Billirs ~'~ars oll~~tions ~u~Y
1~ 4~,']I~4 $444,?U 45,
1~ 4?,~~ ~~I~,~~ .14~~ x,497 4,~ ~7.~~~
] 7 4~$}~~ 47,I~$~ ~.~°o ,47~ 4~~,So 9.9~~
~ X41,47? ~4,~~ 4,~7~ X49,479 10~.~~~
X999 X8,1 95.4~~ 34,3 ,0~9 ]00.49~~
oil ~}4t4 77}7 9o.71a~
?7}799 9,07~o ,7 99,1 ]~0.14~0
I~I~ 1,14,1 1,~~~,~~$ ~~.71~~ ?r44 1~.?~~
IT IMF BI~~IL IwI~TEI~~ 1VIIi~ET
I~riF'TTjI~ F LEGAL I~~~T I 'Y'~bl~
I~~eer~b~r 31, ~~Jnaudited}
~~ecmber ~ t,
~0~
~k~t 1~aluc 1,4~,] ~5,~~
p~li~~bl~ I~cbt Limit (Pcr~~~tage ..r
Debt Lirr~it ~,8~,~~~
rneunt ~f1~al~t Appli~abl~ to I~~bt Limit:
'I'e~a] 1~~~~ed )~bt 17,~,~~~
Less: lrn~r~vem~nt ~~nd ~Sa7~5}~~~~
Mate Aid treed ~~nds ~4a~~~
'Ta.~ lnere~ner~t lends ~,5~,~~~
[J~ility~ e~renue i~onds 4~~,~~~~
Ff"~ta] Debt Applicable ~o Debt I.,~~it
Lcgal l~el~t h~I~rgin ~~?7?~~
~ur~e: I~it}~ I~inan~c and ss~sir~g I~cpartm~nt ru~nrds
14
- ~'I~i ~a~ int~nti~~all~+ 2~f~ ~~a~nk -
14
CITY ~ B~~L~I ~~T~, ~Vill~~~'
'1*1~ ~1CJL I~1~T ~F~IE 1;PE1~IT~JRE Ff ~`~b~~ 7
EI1~lL I~I~~~ T TTL EEL EPEI~17"[~R~ Lark Tin Cial e.~r
{llna~~it~d}
~"at~l D~6t crv~~~
T~t~l ~r~~ral a~ a F~r~~€~t
Fi~~al I~~~t Fund of cn~ral ~~r l~rinipa] Ir~t~r~st crv~~~ ~~enditur~~ ~p~~~tt~re~
1~ 7~~,I~~~ 1,~~~,~5 $1}$I~~~ ,4,~~ 1$.71°0
1 ~ ,1 ,I~~~ I a 1I~~? ~ 1 a~ 1 r ~ 1 ~,3 ~I~ X7.1
~7 lal~~aQ~I~ t,0~7,1 ,1,~~ 11,7~,7~ 18.~~
~~I ,~,I~~D 1,1~, 14?77?~4~ ~7.7I~~~
~ur~: pity ~~~an~~ I~~~artmcnt r~~ards
~'~m~un fir 1 ire hi~h~r b~c~us~ ~f the d~fe~san~~ ~~`th~ Tai ~n~r~r~~nt ~n~~ ~f 1~~5.
IT F B~IItI~ EI~T~} iVIi1~1~T
fIE1ILE~[J TTITIA.ir I~~1T11 ~"a~te ~~er~ber ~ Pale i of ~
(~]nau~ited
I~t~ of incorporation Fcl~ruar 14,111
of ad~p~i~n ~~`it hartcr lo~crn~~r a ~
late It charter off~~i~~ Dce~m~cr 1
Form ~f g~v~rnm~nt ounoil-Ian~ger
liic~l }~~ar l~e~in J~uar 1
Aria ol~~~ ~ t~ ~a~uaro rnil
i I ~f ~tr~~t,~:
bounty C.
t~ 1 ~.7
llrii~e~ ~f ~ide~~ra11~~ ~4.
I1~ile~ uftr~ail,~ 11,E
iile~ of,~~orrn ~e~v~rs
Iurn~or ~f trot light; ~~~ncd ley ~ 1 wncd by pity t7
pity ~rnplo}~~~s a~ ~f Deo~mber ] }
Authorised r~gul~r full-time ll~
~"~p~r~ry ~r part*time ~
ff'~tl 41~
Fire prote~ti~n:
oml~er of ~tation~
Iom6~r of full-time employes 1
I~lumhcr ofvolunteer firefigl~ter~ ~
Police protection:
Iuml~er ~f #ations 1 ~ml~er of s~~~orn paliee officers 4~
umber of other full-timo ~mpl~y~e~ 1
]~lurnher of part-tine orr~ploy~~s
1'I'~' ~ ~lLl~i EIVT~, iV1IIl~'A
1~;~L~1l_;C~[J TTITI~~ IT `~~61~ ~ D~~~m~er ~ 1, P~g~ of ~
{[Jn~udit~d
Purl►s ~r~~ le~re~tion;
P~ri~ pr~~~rl~r totals 7 acres dev~lop~~ t~ ~~nr~ a ~~i~e varie~}► ~f r~~€~ati~na! int~rks. T~~
arm inelu~c pl~lnts, play~gmundsa play~~i~:lds, trails, nature ~re~s and an arbore~urn,
Archery range 1
Play~r~ur~~s 20
Park shelters
Picnic shelters 10
Ice skating rinks t
1•lcckey rinlCS ol~ball ~iarr«n~,~ 1
baseball ~i~m~r~~s
~'er~nl~ Hurts 14
~asl~etb~ll c~ur#,~ 1
~~~tb~lUso~r fields ~
I1~tunicipal ~~rat~r plant: IUrnb~r ol'~anr~~~t~~ns ~r~4
Avenge dai]}~ consumption in g~ll~ns ~,7~,7
Peak: ~ai]}~ consumption in gallons }?}~~1~
Plant capacity -gallons per 17,a01~~
lviiles ~f ~v~ter mains ~ 1~
iumher o#'fire h~r~ra~ti
1~rnher of ~~+clls umber of clo~ate~ reservoirs ~
tor~gc capacity in gallons ,OO~~~I~~
14~]
- Thys ~~g~ intenti~nalj~ l~f~ blank -
14
CITY F BII~f ~1~1T~l~ i1~1T
TAB LEIS ]I~'T'11 I~I~~TI~1 Table
Lit den Fiscal c Unaudited
ollcctian l~ercenta~e ~llecti~ns
of urrcnt of Leer of prior T~ta1 I~clinquent
car'']'aes ~lleete~ Yea's Taxes ~llectio~~ Deli~~ucr~t 'T'axes
dear Ta,~ During fiscal urin i~urin~ ~`ot~l i~ercer~t ~f Taxes F~re~nt of
~lleeted Lcv~r* l~eriod~~~ Fiscal l~eri~d Fiseaf l~erio~ vl~eetians Tax Lev} eial~lc~ Tax Le~r}~
194 ~a~7a4~ ~,4,~5~ C~.l~~ 1~,~4~ ,~~$,107 ~~.1$~~ 4?I1 * 4.1~~
1~7 r~4,4~7 ,,fib ~,~~7 97.7°0 1,~~ * ~.7~0
~,i ~,4~,~~0 ,~°o '],1,7 ~~.77~~ ~4?~~7 * 1,91°~
~0 ~~,44,170 1~,,~ 97,9°0 ~1,~~'~ ~~,4~,']1 1~~.~~ao 9,~'] .1~°0
ou; pity 1~ina~ce I~e~artrncn~ Rec~r~s
~~~T~ar ~ prier 14, tic fax lc and callecti~ns include I-~~mestead and ~1~ricultural 11id redii 1.11~~1. f~einnir~~
ire 194, Mate la~~r are~~ired ~ pity ~a certify i#,~ t► levy at~~r subtraetir~~ H.
~'~urrent tax cnllecti~ns include the rnarl~et value homestead credit ~1~11~1.1}.
1~
ITi~ F ~1~ILY ~T~l 1V~Ii1T
~~I~ I~[ I l1TiiT1~I i~~ l~~J~ Ll_, TAIL I~OI~T
Last ~"en Fiscal dears [~~a~~it~~~
~~4 1 1 17
F~p~lati~n ~t~ ,4~ 1~,4~ ~l~a~~~ ,1
Deal property;
~`aable value: '
City.
>esi~er~tia~i ,1 ~~45,~41~ ,41~,~~ ~1~~5
~r~residentia~ t,~,1~ 13~7,~73 l}8~~,15~ 11}0}43 ~4re~,~vide all~eati~~ X54}1} ~8}~~~~ ,$7
Less tax ir~crerner~t ~istriet 1,~~, t,~~~~~ t,~~,~~ 1,,04 i
T~t~l taxable value 0,~4~0 0,~,?i 0,41,~~ 15,1~~ i
~stimatedn~arket~ralue ~#']00 1,~1~,4~0 7,1]}400 1,010,170,000
Personal propert~F:
~stir~ated rnariCet value 1~~~~00 1~~3~~0 ~,477~00 1,~~00
Assessed value as a percent
oi`esttrnated rnarl~et value ,]°o .xQ~ lea 1.°o
Per capita valuations:
1~ssessed value X747 74 70 7
Estimated market value ~f17 ~4,~? 4,$ ~,7
~ur~e; ! ~~~s~i~~ Depar~n~nt and ~Ie~tnepi~ hunt retards
1 ~'he i~ie~r~politan ~~neil is the sot~ree ofpepulatien estimates,
i~
,34,E ,7~ ,,7~ a4+~,~ a,78 14,~,~
37,40 1,~44,33~ 74,43 ~7,1~~ 1,47,E
4,4,$7 a43a1 3,7,74 1 ~,3~7,0 ] ,$,4 1,~ 1,~
3,4 ,44,1 3,14,417
1~4,?~ 4,471,4 1 ,p~,$~4 17,1~~ 1 1,317,44
1~48~,4~+600 1,]4,41,344 1,11,~,1~~ 1,4?,~~,~~ 1,,~~,404 1,844,11340
1,14,44 13~4~3~144 13,,04 13,31,1~~ 1,7}~~ 13,7,00
~ . 1.73 °0 1. 1. 1 1.4~~0 1.440
71 X717 18 ~7 ~
f~ 1 41,?~ 4~,~4~ 5?,377 3,00
151
i~ I r~ ~ ~y~J1 1 ~~1~}~1,~11~1+~+ r+7ti1~y1+#i y i ` (w
~L~~ 1~~ 1~ f~~l`~~i`~l►1 i I~ L~1# 1 ~i~7 ~iT1~r ~U4~~~ ~ ! 1..~~1~~7
Lai al'~~ 1{tsal rs
~1_]na~dl~~d~
`l'ax lad ire ~"a ~pait i ~
h~~l I~istri~t
gar 1~~-T~~C~ I~lo. X79 ~lle~~ibl~ i~ r~~} ~ ~h~~l 1}arl~ t~~vn ~~~o
1994 x,03 0.09 .14 .7~
1995 3 ] .090 0.00 '].~1 7~.14~
if dry +Jya~Uy~~ ~a/~~V7~~y V~4V~ 4i+VyV
l ~'{~Ll ~Jy a/Ly #i /~y ~~y a V V~Vry ~ /~~a ~y~ ~+Jy 1 f rd~~ValrV# Va~~V77 ~JiV~~ ~F/Jyy ~yy~
J4.~4~ ~.~~4! 4i~5 ~ airU~
~~1 47.139 C~a7~
r~0~ ~.9~1 0.~~~ La3dV 30a13 LV~~ ~a~~ l ~a~V ~ 49.E 17 .~~4
1 CLaI 1J4 Y ~4J 1 J 1~ V~ 1 GL
ho0l ~i~rlc~~
Year ~-~'c~l~ Flo. 1►1~, 7
aile~tibl~ it}~ cl~~ol l;arl~ ~ra~~rn ~se~
194 ~~57~3 tCC,~ 1 X4,1?,~~ 3,4,013 1~9~ ~,~01}197 - ,~7,4? 3,~,I44
19~ ,4~,~ - 4,~D#400 3,~C3}C
1997 ,74,4$7 - 4,47~OC 3,x'0}3
1999 7,9,~~ ~ 4,93,1 ~ ~,~0,03
,099, - 4,i ,07 3,70,533
OOt ~40a - 4,073#~ 00 10,44}~ 70 - ,03,54 ,0~4,39~
X003 10~354a~0C - ,43,47 4,34,4
o~rc: ii~r ~1~se~in l~eparlmeni end 1-l~nnepin o~ni}~ ec~rds.
1 Ta~ l~~r incl~d~s I3ro~klr~ ~nt~r ~ end I~lE1.
{ e~innl~g in 199, a porti~r~ of the ch~o] l~v?~ h~~wm vas paid bye ~h~ ~a~~ a an e~uatiar~ ham~~t~ad ~ri~. Thy ~tat~-paid }~ortior~ ~~~al~~ ,33a~0 ire OOI.
'~'aal~ 11
H~nr~~~in
f~~ol Ibis#~ict~ ~unty~ Total ~t~+~ eho~l, and ~ur~ty
0. SID. 11 ~Cl~~ 0, lY~, 1 ~V~. ~ ~ ~b~insdale nol~a DEstri~ts Lade ~r~~~n ~~s~a R~~binsdale nolCa
~i~ ~~y +1} ~ r a 1 V~~y i ir~ V ~ 4a,~ ~ i 1 d 41.}V~~d ~ ~ /y, V V }F 4#~,~
~.7 4.3~? ~.t7~ ~ 141.~~ 1~,7" 13.901
3,7~'] ~.~8 ~.~7~ 1 1,34 1~7.71~ 1~.~0 ~~~.C~~~
Tr a~l 0,7 14.3~~ I~,$ 134,E ~41,4~1
48.~~ 7,7 ] 7.~U 13.~4~ 1 ~ 1,4? 1
4.~~y~7{~ /y/~.~y4y 4.1~0~ 1 ~ 1 ay~y ~ 1~.y7~ 1 4.~~y
~.~lr{~/y /iyr #Ja~VyVL ~(~yi+~y ~ }~~~y,~~y {~~~y ~~~a~IVy S] ~~~1 ~ ~+~y~F~I~y 41
al r J irVi#~ L 4f~✓~ 1 VL.LVL i~~a~ir~ 1 1 J~~i.
H~nnepir~ Taal
~ur~t
Igo. ~1 x,11 peeia~l eh~~l~ end
~~binsdale ~1nol~a Iistrit ~~n~
~4?~a t,~7,4 ,34#~ ,~~9,1~7
4,3~,7~ 1,4~1a~7 9}~0~,~00 ~~,4~~,7
3,7~}~ t,4~,3~t 4~1 ~~,]7,4~1
~a11~,~9~ 1~~1,09 ,911
~a~7,~~1 1~407,~0 }C~~'}91 }~1,7~ ~,4~ 9,~~1a7~ ,41,?~~
1
~T F ~RLI~ EiTE~, 2~If 1~IET
T~"~ F NET EII~EI DEBT T ~4~~D VALUE ~ Table 1
SIFT ~~ID~I~ DBBT PEA API's Last Ten ~i~~al Years
r~audited~
I~es Ratio ~f
m~~~t~ het or~de~ fat
T~~ brass In Debt ct ICbt to l~~nd~d
~~seal Estimated apacit}r ~and~d ~rvic~ S~nd~d ~`a apaeit~ Debt der dear P~pu~~ti~r~ l~alue ~ebt~~} F~~~ Debt Value Capita
1~ ~,4~ 1,~ 17,77 - ~.~4~a -
1~ ~#1,317 - - - ~.0~~~ -
1~~ ~~~3,~4'~ 7,~~,~~~ tC~,77$ 3~.~3a~ 5.4
1~ ~,3$7,44~ 7?7,~~~ 7~}~~ #x,13 33.~a ~~.~3
~~1 ,17 1~,3~7,~ ,7~,~~~ ~1~~1 3.~~o
, i ~ 1 ,7~3,~ 1 ?3~~?~~~ X71 }70 ~#4~,~3~ .O~a 1
sure: City Finar~ee D~partmant ar~~ Her~n~~in C~ur~ty rc~~rd
{1 rrt~ur~t dais oat include tax increr~ent,state aid strut, s~eeial a~s~sme~t, ~r re~~nu~ t~td~.
X54
CITY F BII~I~ ~T~1~ 1V~Y1~1~T
~-f~'I"Tl I~~1T AND Ei1PPI DLI~'~` Tn~I~
ieeer~ber ~ ~0 ~[1~~udi~ed}
e~ernmen~~l knit pity's f~~re r~,~s Debt in~in Funds Nit Debt Fecnt Arn~ur~t
l~rect ~ It ~fBC~al{l}~n ~nt~I 1~O.~~ao J~,~~,~~~
~erl~ppin debt:
Ohl I~istrie:
N~.11 ~4n~lCa 1 a ~ ~ x,177 47,E ~ , 1 ~ 7, ,91 1.~ $ , 3 ~ 1 ~I~ 7
Na. ? ss~~ 74~~~~~~ 77}x,77 i,~ .47a~ ~~,77~,
sari ~r~~~~n la~~}~~~ ~~7, 31,4,7? ~~0.~~°~ X1,1}~77
lvfet ~~neil ~?l~a~~~ 4a4~a~~~ 1~,I~~~,~~0 t.l~~ 1~~}~0
~-~er~ne~in ~unty~ ,4~,~~~ ,~,3~9,37~ ~a45,7 1.$~~ ,~,1~ Hcnn~pin l~gi~n~l Autb~rit~ 4,3,~~0 1#~~ ~ 474
Her~nepan U~~l' Parr le[V~ DIStCI~t ~,3~,~~~ ~,~~3,7~3 ~,~1,t7 .~~o ~~,I~7
T~~al ~~erla~~in~ debt ] }9,13,177 i 97,1 X0,797 ] }09~~03 ~ }0 ~,74,~4
T~t~l direct ~ttd oerlappin debt ~,0~,47,] 77 ~ 7,7,77 ],10~,~~4,410 ,177,4
Direct ~v~r1~P~in~
`1'Otaf Debt Debt
om~~r~tiv~ i~t Dcbt_ati~s b~r~~abfc t~ ik~r
iebt to ~ a~aei t ~a] ~e 1 ,73, 1 ~ .14~~ .1
C~ebt to m~rl~et ~~I~e ~,7~,81,000 ~,3~°~ 3.ao
Per c~~i~a debt? ~ul~ts~~ ~}17~ ~a~.4 ,~1.1
~urce: pity )*ir~~nce iepartmer~t, Hennepin ourrta end ]..D. ~ ] nerds.
~1 Includes ~nl ~~~t~ral abligntia~ debt ~~bi~h i r~p~id thr~ugC~ ~r~~~rt}+ ta~►.
1
I"F~' F 1~1~II~1~ 1~1~T1~1,1~IjET~►
!'ll~li]'L TPf~I ~a6le 14
~D~
~~lna~dited~
~f
~~3 Tota! it~r
pct Tax apa~~ty
Taxpa~rcr Type of $usincss Tax ~~aclt r~ value
Talir~arr fro~kdalea I.rf~ h~~~ir~~ inter 1?ba?l~~ ,0~~~
Tar~ct area ictall 7~7,4~ ~.?~o
B ssoiates, i~i.llelisr I~ff i~~ ~~?3 1
1e~al ir~e~nas, lne, 'Theater ~~,4~0 1.~~r'a
f~r~a~kdale ~rner, ~I~ I~tail f~4~ 1.53a~
He~tne~tn punt 1-l~tel ssoeiati~n l~atel ~~a411 1.44°a
TI1I►~ L }~L partemcnt ~~,40 1.4~~~
dears foeh~k and f~~p~rtrrrent tyre 3}411 ~.4°~
ICJ f-I~ldin~s} ]rye. Industrial 1.~~~
1icl~es rurniture ~n~l~~n industrial 1,7~ l.a~
Tula] Market aluc 4}x,43 ~1.~I~~~
f al it Ilark~t a lug i 1 ~
puree: it}~ ss~;ssl~ department re~rds
5
IwIT~C IMF I~I1~1 ~1~1TE1~ Ii1~T
i'1~~1T ~4L[1 11T1CJ'TIi T~bl~ 1
mast Tin Fi~~~l gars
{[~r~~~dit~d~
~mmer~i~i l~ lesid~n~ia]
~uildin l~~rmits Issued ~r~tivn ~ns~u~ti~~ ~r~~~rt 1~1~,~
Estima~d
Year iumb~r Est alu~ []nits 1~~1~~ ~rnmerial l~sid~n~ial l~n-T~xabl~
lJ~ ~p~~,~1U}~ y~J~,~~~ 7► wpJ~~~V ~~~}JVL~~~~ J la~a~~~ ~V~~U~~~
1~ 1,47,~4~~ 1,7,~~ 1 i,l}~04 ~4,7,~~ 7~,~,7~~ l~~,~7~,4~0
1~ 1,74,E 1~~~,~~ ~ ~7,1~}~~0 ?,1~,~~~ 111}~,~~0
1~ t,4~ 3,?1~~ 14}1,~~ 4 1x40 ~1~,47,7~~ 77~,~}41~~ ~4,~~
1 1,7~ X4,1}~ 10,?~,jl~~ 7 1~,,~1~
1~~~~ 1 }~7 Vy~~~4~~ ~ ~a~~~L j ~ ~ ~ 1 J J~~Jy~J~ ~ ~~~~J~ 1 ~~J
1~,7~,~~~ ~ ~~~,UUU ~~1,~1~aU~~ 7~~}~~a~U~ la~~~aU~V
7 ~,~~,lp 1,~~,~14 10 1,3,~~~ ~?,3~,1~~ 1,1~~4~~30~ 13,1~'a0~~
5~,1,~ 1~37~}1~4 ~~']}4,~0~ 1,x],4?, 1~9,0~
~ur~~: pity Fina~~~, ss~ssir~g ar~~ ~mr~u~nit D~v~lopr~~r~t Iep~rt~n~nt r~~vr~s.
1
1T ~ I~IL ~1~TE ~ViII►ll~~"~
i~1~1~I-II TT1Ti Tbl~ 1
Last T~r~ Ii i~al ~ar~
~~Jr~au~it~~
ch~ol ~r~r~ilm~n#~ ~4~
pity i~f inn~ap~l~~ I~I~. S
Fi~~a1 ~Jn~mpl~~rm~nt fit. Paul io.11 7 ~t 11ar1~
Year Pop~l~ti~n I~ late .i'.~. ~ n~ka ~ss~v 1~1~bin~~a1~ I~r~v~n y
1 4 4 X44 1, 114}~'] 1, ~
I~ f~ 3.~~0 ,74 1}4 ]4~~ lad
1~ ,~1 4,40 i, 14,10 1,74
1 ,4~~ .Q~ ,171 1,00 1,?
,17 ~.~Q~ 41}14 ,017 ~,7~~ 1,~?
X001 }I7 .°o 41,4] ,~41 13,54 1}~~
4.°~ 41, 1,4 13} 1,73
~,1 5.°~ ~.7°~ 1,4 1~ 13,7 1,73
1 ~ur~~: i~tr~p~litan ~~rri1
{ ~ur~~; ~riir~r~~ta D~partrn~r~~ ~#`E~~narnic ~~r~rit}+~ av~ra~~ rats fir the past gar
(3 ~u~r~~: [J.. ~ur~au ~f I~~b~r '
our~~: inn~~~# D~p~r~tcnt ~fhildr~n, Families Learning I~rv~~~}+r~ ~r~t~r h parts ~f t>~~~~
~`~ur~istri~tsitl~ir~ t~~it
1
~~~~a ~
Ict cv~n~~
~p~ra~ir~~ 1~n-~pcrating ~s I~v~nu~ to Deft ~'~~r l~~v~r~u~ lcv~nuc cve~t~~ L~~r~s~~{i ~ vaila~~~ Prin~~a! Intcr~st T~i~] ~rv~~~
term ~r~ir~~~~ F~n~
194 ,~11 3~,0 74:41 ~11a4~ 51~,~~~ - ~~,~Q~ 1?.~~ :l
1~ 7,~7 7r$~ S1,77 ]~4,0 - ~f~~ 7,47
1~ ~ 47,~~ ~7~,~4 2~4~~~~ ~~~,~?4 li~,~~~ ~ 1~}~~ ;1
i~7 1~O,C1 ~7,~7i i~,~~ 7~}~~~ 1a~~4 7,74 X4,74 3. ;i
1 ~~,~1 ~1~}~~~ 1a$5}7 1~~ l#7,178 i~,~~~ ~7~,2? 7,~7 :1
1~~ #~7 l#~~],~ 7,7 1,~ al~l,~ 1?~,~~~ ~,i~ ~4t1~ x.97 ;1
1~~~ 1074,1 i,0~ 1,87#~~~ 14}11 1,~3~,~~4 18~,~b~ ,1~4 ~,i44 .1 ;i
i,]~,~~~ ~8~~?4~ 1x410}4 i5?,i i~ 1,~,i~ i~,~~0 ~1~~ 4,1 :1
Ob i,~?7}~6~ 4~,4$ 1,~1~,18~ ~~1~741 1a~1,44~ 00,00 ~,7~i ~t701 ~.~8:1
1~~~ 14,51 14,4 i,4i3,~ i,~ 17,44 ~1~~~~Q ~4,~0 34}0 4.? ;1
~ur~~: it~r Fir~~~~~ ~~}~a~trrr~r~t r~~~r~~,
~l~ l~x~ludcs depr~~Eati~n end i~lrst ors 1~~nds.
CITY F ~i~I i"~', L1rff ~T~►
H~i~L~,~ ~ I[~I~ ~lE)F Tale 1~
i~ffective January I, Fa~~ 1 of
~>,Jr~auditcd}
Polic~r Pcri~d
Type ~ftWavera~e and l~ctails Tram Ta Liability LirniL~
I. tu~utc~rv Liability t~ l~m~la~ec
a. orl~c~s ort~~er~sati~n ~pa~ici~ar~t in the 0~10~1~ ~~1~~~~~
Lague of l~rfinne~ata iti ins~ranc~ `rust
elf-Insured Uarlccrs" an~pensati~n
Pr~~)
II. Liabilit~r to the I~ublic
a~ amprehensivc cneral liability ir,~lud~s the fallowing additional cavcrages:
a X111 cmplay~ees as a~ditivna~ insureds
{b persona] injury covcra~~ t~ incCudc false arrest, libel, slander, ~~rr~~tgful
cr~tr or evictior~r ar inva,~ian af`ri~ht ~f ~riac}~.
bread contractual liability
Product ~lablllt~' l~ubliof`f'~ci~ls' liability
~1~ I~adil~+ ir~ju~ ~~~~1~~~ ~4~~1~~~ ~,~0~#~~0 accurrcnce
]~ro~erty~ darn agc 041 ~ X03 ~41~ I I~4 1 0~ ~ acunence
Personal injury ~4~~110 ~~1~t~~4 ~,~~~,~4~ ac~urrer~~~
b. utorr~obile liability, compruh~~si~~ ~4~~11~~ ~4~~1~~~
~1} bodily injury ],OO~,~~Q a~curr~nc~
{ 1'raperty damage 1,~~0,~4~ accurrer~~e
Uninsured mataris~ l ~ccurrenc~
c. Liquor sores"dram shag 0~~~11~~ ~1~~1~~~ ~~~~1],~~~ occurrence
annual ar~~at~
d. ol~`aursc and ~r~tral Parr liquor liability ~~I~II~ ~11~11~~ 1r0~~,0~~ o~currcnc~
I,~I~~~OI~~ annual a~~reat~
e. I~ersonal accident, olur~te~rs ~11~11~~ ~1~~1~~~ ]QO,~I~~ accidental death
1~~,Ol~l~ pernryaner~t 1mpalrrnent
~~~1~ceiC short-term disability
~~,1~~~ per ac~id~€~t
I~~~FI~L~ iU~ I~~ll~ Table 1$
Fff~~tly~ January 1, OCR P~g~ of ~
(Un~udltc~
l~uilding# truere~,
Polio 1'eri~d and ont~nts
~rpe of I~o~~rae and Ike#ails From T~ {lepla~rnent Iw~~t~
III. Inuran~ ~n itv Pro~~rty ~4l~lf~~ 0~1~~1~4
Pu~fi and ir~stitu~tiar~al prop~rt~~, all ri1:, blankot 3~~,~7,4; 1,I~~~ ~fu~til~le
repla~~ment value on building.
{1 I~iviol~~r~t~r ]~,,o~~
Fait l~ir~ station 1,~,~~~
1~Ue~t Firs tin ~,4,~~
~viurrieipal ~rvic~ a~gc ~,U,~~
Fl~vat~d Water T~~vc;r~ - ~ loati~ns 4, I ~,II~~ Dark h~lt~r Buildings -1~ ]~cati~r~ 1,~}l I~
Pump H~u~~ - lI~ loati~ns ],I'~,~~
Lift tati~ns - 1 ~ lacati~r~~ 1 }3~~a~~7
~ deter station
~1~ torag~ BuildEng ~3,7~0
l 1} ~utdo~r liglntir~~ ~~t~m~ - 7 locations 4~6,00~
{ ~ I~~ased L iquor t~ r~ ~ , ~ {13~ Pe~~slrian Bridge - l~c~ti~r~s ],3~7,0~
~~4~ P~ni~ h~ltcrs 4 1?,~~
~ ~ ~ Far! ~ ~ro~vn Hcrita~ I~~ntcr 1 , ~ ,1 ~
~nt~rhro~k ~1~'I~oure lib Hou~~~ ~1~4,~~C~
{ i ent~rhr~ok Calf I~ourse - arag~ 5~,~
~1 11i~ns Park ~n~si~n stand ~~,70~
P~li~~ station ,~"70,4~ Iw~nt~rhrook golf I~~urse aintnane~ Buildi~
1 ~nterbrook ~1#'I~our~ - l~rop~rt}+ ire the open ~~~r0~0
Part - Property in etc ~pcn ~C,3~
Liabilit~r Litt~its
boiler and ma~l~in~ry II~~~I~~~ ~4~~ ISO ,OC~~,o~~ per accident
. utomotiv~ ph}~si~al dantagc ~4IIIIIII I~41~11~4
{1~ Iwompr~h~nsiv~ - t,~~0 ~cdoti~lc
~ IW~llisi~n ~ ~,o~~ ~e~uetible
I1~ ri~inal Acts
a. I~aithfu! p~rf~rmanc~; blankc~ position 00,~~~ pcr oceurrencc
b. ioncy and suritie~ abroad form} carious Iepasyt~r's forgery 1~~,C~~~
11
- Tl~i~ page in~en~i~nally [eft blanl~ -
1