HomeMy WebLinkAboutCAFR-1996 COMPREHENSIVE
ANNUAL
FINANCIAL REPORT
of the
CITY OF BROOKLYN CENTER, MINNESOTA
j
For The Year Ended December 31, 1996
EY CITY MANAGER
MICHAEL J. MCCAUL
Prepared by
THE DEPARTMENT OF FINANCE
Charles Hansen, Director
Tim Johnson, Asst. Director
(Member of Government Finance Officers
Association of the United States and Canada)
Citv of Brooklvn Center
COMPREHENSIVE ANNUAL FINANCIAL REPORT
Year Ended December 31, 1996
TABLE OF CONTENTS
Exhibit Page
Number Number
Title Page
I. INTRODUCTORY SECTION
Table of Contents i- v
City Officials 1
organization Chart 2
City Manager's Letter 3
Finance Director's Letter 4- 12
Certificate of Achievement 13
II. FINANCIAL SECTION
Independent Auditors' Report 14
A. General Purpose Financial Statements
(Combined Statements Overview):
Combined Balance Sheet All Fund Types and
Account Groups 1 16 17
Combined Statement of Revenues, Expenditures
and Changes in Fund Balances All Governmental
Fund Types 2 18
Combined Statement of Revenues, Expenditures and
Changes in Fund Balances Budget And Actual
General, Special Revenue and Annually Budgeted
Capital Projects Funds 3 19
Combined Statement of Revenues, Expenses and
Changes in Retained Earnings Proprietary
Fund Types 4 20
Combined Statement of Cash Flows
Proprietary Fund Types 5 21
Notes to Financial Statements 22 50
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Citv of Brooklyn Center
COMPREHENSIVE ANNUAL FINANCIAL REPORT.
Year Ended December 31� 1996
TABLE OF CONTENTS
Statement/
Schedule Page
Number Number
B. Combining, Individual Fund and Account Group
Financial Statements and Schedules:
General Fund:
Comparative Balance Sheet A-1 52
Comparative Statement of Revenues,
Expenditures and Changes in Fund
Balance Budget and Actual A-2 53
Schedule of Revenues Other Financing
Sources Budget and Actual S-1 54 55
Schedule of Expenditures Budget and Actual S-2 56 60
Special Revenue Funds:
Combining Balance Sheet B-1 62
Combining Statement of Revenues,
Expenditures and Changes in Fund
Balances Budget and Actual B-2 63
Statement of Revenues, Expenditures and
Changes in Fund Balance Budget and Actual
Housing and Redevelopment Authority Fund B-3 64
Statement of Revenues, Expenditures and
Changes in Fund Balance Budget and Actual
Economic Development Authority Fund B-4 65
Statement of Revenues, Expenditures and
Changes in Fund Balance Budget and Actual
E. Brown Tax Increment Financing Dist. Fund B-5 66
Statement of Revenues, Expenditures and
Changes in Fund Balance Budget and Actual
Tax Increment District No. 3 B-6 67
Statement of Revenues, Expenditures and
Changes in Fund Balance Budget and Actual
Diseased Tree Removal Fund B-7 68
Statement of Revenues, Expenditures and
Changes in Fund Balance Budget and Actual
Community Development Block Grant Fund B-8 69
Debt Service Funds:
Combining Balance Sheet C-1 71
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Citv of Brooklvn Center
COMPREHENSIVE ANNUAL FINANCIAL REPORT
Year Ended December 31, 1996
TABLE OF CONTENTS
Statement/
Schedule Page
Number N u m b e r
Combining Statement of Revenues, Expenditures
1 and Changes in Fund Balances C-2 72
Capital Projects Funds:
Combining Balance Sheet D-1 74
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances D-2 75
Project Length Schedule of Construction
Projects Capital Improvements Fund S-3 76
Project-Length Schedule of Construction Projects
Municipal State Aid Construction Fund S-4 77
Project-Length Schedule of Construction Projects
Special Assessment Construction Fund S-5 78
Enterprise Funds:
Combining Balance Sheet E-1 80 81
Combining Statement of Revenues, Expenses and
Changes in Retained Earnings E-2 82 83
Combining Statement of Cash Flows E-3 84 85
Comparative Statement of Revenues, Expenses
and Changes in Retained Earnings Municipal
1 Liquor Fund E-4 86
Comparative Statement of Revenues, Expenses
and Changes in Retained Earnings Golf
Course Fund E-5 87
Comparative Statement of Revenues, Expenses
and Changes in Retained Earnings Earle
Brown Heritage Center Fund E-6 88
Comparative Statement of Revenues, Expenses
and Changes in Retained Earnings Recycling
and Refuse Fund E-7 89
Comparative Statement of Revenues, Expenses
and Changes in Retained Earnings Water
Utility Fund E-8 90
ili
Citv of Brooklvn Center
COMPREHENSIVE ANNUAL FINANCIAL REPORT,
Year Ended December 31, 1996
TABLE OF CONTENTS
Statement/
Schedule Page
Number Number
Comparative Statement of Revenues, Expenses
and Changes in Retained Earnings Sanitary
Sewer Fund E-9 91
Comparative Statement of Revenues, Expenses
and Changes in Retained Earnings Storm
Drainage Fund E-10 92
Internal Service Funds:
Combining Balance Sheet F-1 94
Combining Statement of Revenues, Expenses
and Changes in Retained Earnings F-2 95
Combining Statement of Cash Flows F-3 96
Agency Funds:
Statement of Changes in Assets and Liabilities
Employee Deferred Compensation Fund G 98
General Fixed Asset Account Group:
Schedule of Changes in General Fixed Assets
by Source S 100
Schedule of General Fixed Assets
By Function and Activity S-7 101
Schedule of Changes in General Fixed Assets
By Function and Activity S-8 102
General Long-Term Debt Account Group:
Comparative Statement of General
Long Debt H 104
5ummary of Debt Service Requirements
to Maturity I 105
III. STATISTICAL SECTION Table Page
Number Number
General Governmental Expenditures by Function 1 107
General Governmental Revenues and Other
Financing Sources by Source 2 108
Tax Levies and Tax Collections 3 109
iv
Citv of Brooklvn Center
COMPREHENSIVE ANNUAL FINANCIAL REPORT
Year Ended December 31, 1996
TABLE OF CONTENTS
Table Page
Number Number
Assessed Value and Estimated Market Value of All
Taxable Property 4 110
Direct and Overlapping Tax Rates and Tax Levies 5 111
Special Assessment Billings and Collections 6 112
Ratio of Net Bonded Debt to Assessed Value and
Net Bonded Debt Per Capita 7 113
Computation of Legal Debt Margin 8 114
Computation of Direct and Overlapping Debt 9 115
Ratio of Annual Debt Service Expenditures for
General Bonded Debt to Total General Fund
Expenditures 10 116
Schedule of Revenue Bond Coverage 11 117
Property Value, Construction and Bank Deposits 12 118
Principal Taxpayers 13 119
Schedule of Insurance Coverage 14 120-121
Demographic Statistics 15 122
Miscellaneous Statistical Facts 15 123-124
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Citv of Brooklvn Center
CITY OFFICIALS
For the Year Ended December 31. 1996
ELECTED OFFICIALS
Term of Of f ice Term E�ires
Mayor Myrna Kragness Four Years 12/31/1998
Councilmember Kristen Mann Four Years 12/31/1996
Councilmember Charles Nichols Four Years 12/31/1996
Councilmember Kathleen Carmody Four Years 12/31/1998
Councilmember Debra Hilstrom Four Years 12/31/1998
Councilmember Elect Kay Lasman Four Years 12/31/2000
I Councilmember Elect Robert Peppe Four Years 12/31/2000
APPOINTED OFFICIALS
City Manager Michael J. McCauley
City Clerk Sharon Knutson
City Treasurer Charles Hansen
City Attorney Kennedy Graven
City Prosecutor Carson Clelland
Department Heads:
Community Development Brad Hoffman
Financial Services Charles Hansen
Fire/Emergency Preparedness Ronald Boman
Police Scott Kline
Public Works Diane Spector
Assessing Stephen Baker
Asst. City Manager/H.R. Director Jane Chambers
City Engine�r Scott Brink
Civil Defense Coordinator Ronald Boman
Fire Marshall Ronald Boman
Health Officer Duane Orn, M.D.
Liquor Stores Gerald Olson
Public Works Superintendent Dave Peterson
Recreation James Glasoe
1 -1-
City of Brooklyn Center Organization
ELECTORATE
City Council Advisory
Commissions
Administration
Purchasing
I Human Resources
City Attorney City Manager Elections
N i Licenses
City Clerk
Communications
Mgmt. Info. Systems
FIRE DEPARTMENT POLICE DEPAflTMENT
PUBLIC SERVICES FINANCIAL SERVICES DE E
-Fire Prevention -Patrol
-Engineering -Investigation -Accountin
-Street Mntce -Fire Supression 9 -Assessin
-Emergency Preparedness -Crime Prevention -Audit 9
-Sanitary Sewer -Community Programs -Utility Billing -Inspections
-Central Garage -Su ort Services -EDA/HRA
PP -Risk Management
-Gov't Bldgs -Dispatch -Liquor Stores -Zoning
-Storm Sewer -EBHC
-Water Dept Planning
-Park Mntce
-Recreation Progrems
-Community Center
-Golf Course
�r �r �s a� r �r r �r �r
City of Brooklyn Center
A great place to start. A great place to stay.
June 23, 1997
HONORABLE MAYOR AND MEMBERS OF CITY COUNCIL
CITY OF BROOKLYN CENTER
I hereby transmit the Comprehensive Annual Financial Report of the
City of Brooklyn Center for the fiscal year ended December 31,
1996. Minnesota Statutes and City Charter, Section 7.12, require
that the financial statements of the City of Brooklyn Center be
audited by the State Auditor or a certified public accountant
selected by the City Council. This requirement has been complied
with by the engagement of the firm of Deloitte and Touche LLP and
their report is included in the financial section of this report.
This report has been prepared following the guidelines recommended
by the Government Finance Officers Association of the United States
and Canada. The Government Finance Officers Association awards
Certificates of Achievement for Excellence in Financial Reporting
to those governments whose Comprehensive Annual Financial Reports
are judged to conform substantially with high standards of public
financial reporting, including generally accepted accounting
principles promulgated by the Governmental Accounting Standards
Board. Our financial reports for the past thirteen years have
received this award. It is my belief that the accompanying report
meets program standards, and it will be submitted to the Government
Finance Officers Association for review.
Respec fully submitted,
Michael J.�auley
City Manager
6301 Slaingle Creek Pkzuy, Brooklyn Center, MN 55430-2199 City Hall TDD Number (612) 569-3300
Recreation a�zcl Community Center Phone TDD Number (612) 569-3400 FAX (6I2) 569-3494
An Affirm.atiue Actr.on/Equal Opportunities E�n�rployer
City of Broohlyn Center
A great place to start. A great place to stay.
June 23, 1997
Mr. Michael J. McCauley
City Manager
City of Brooklyn Center
Dear Mr. McCauley:
The comprehensive annual financial report of the City of Brooklyn
Center for the fiscal year ended December 31, 1996, is hereby
submitted. Responsibility for both the accuracy of the data, and
the completeness and fairness of the presentation, including all
disclosures, rests with the City. To the best of our knowledge and
belief, the enclosed data are accurate in all material respects and
are reported in a manner designed to present fairly the financial
position, results of operations, and cash flows of the various
funds and account groups of the City. All disclosures necessary to
enable the reader to gain an understanding of the government's
financial activities have been included.
The comprehensive annual financial report is presented in three
sections: introductory, financial, and statistical. Included in
the introductory section is this transmittal letter, the
government's organizational chart and a list of principal
officials. The financial section includes the general purpose
financial statements and the combining and individual fund and
account group financia_1 statements and schedules, as well as the
1 independent auditors' report on the financial statements and
schedules. The statistical section includes selected financial and
demographic information, generally presented on a multi year basis.
The City is required to undergo an annual program audit in
conformity with the provisions of the Single Audit Act of 1984 and
U.S. Office of Management and Budget Circular A-128, "Audits of
State and Local Governments." Information related to this single
audit, including the schedule of federal financial assistance,
findings and questioned costs, and independent auditors' reports on
the internal control structure and compliance with applicable laws
and regulations, is issued as a separate report.
REPORTING ENTITY
The financial reporting entity includes all funds and account
groups of the primary government (i.e., the City of Brooklyn Center
as legally defined), as well as all of its component units.
Component units are legally separate entities for which the primary
government is financially accountable.
Blended component units, although legally separate entities, are,
6301 Shingle Creek Pkwy, Brooklyn Center, MN 55430-2199 City Hall TDD Number (612) 569-3300
Recreati.o�a ancl Community Center Phone TDD Number (612) 569-3400 FAX (612) 569-3494
An �ffirm.atiue Action/Equal Opportunities Employer
in substance, part of the primary government's operations and are
included as part of the primary government. Accordingly, the
Economic Development Authority and the Housing and Redevelopment
Authority are reported as special revenue funds of the City of
Brooklyn Center.
The City provides a full range of municipal services including
public safety (police and fire), streets, sanitation, social
services, culture-recreation, public improvements, planning and
zoning, and general administrative services. The City also
operates three off-sale liquor stores, a public water and sewer
utility, a golf course, and a convention center known as the Earle
Brown Heritage Center.
ECONOMIC CONDITION AND OUTLOOK
The City of Brooklyn Center is a northern suburb of the
Minneapolis/St. Paul metropolitan area, lying adjacent to the City
of Minneapolis. The City is wholly within Hennepin County and
encompasses an area of approximately 8.5 square miles. The
Mississippi River forms the City's eastern boundary.
The City experienced its most rapid growth from 1950 to 1970 when
the City's population grew from 4,300 to its peak of 35,173. The
1990 Census count for the City is 28,887, a 7.5o decline from the
1980 Census. The 1995 population, as estimated by the Metropolitan
Council, is 28,463. In contrast to the decline in population
(which is due almost entirely to fewer persons per household), the
number of housing units has generally continued to increase from
10,493 in 1970 to 11,035 in 1980 and 11,704 in 1990. The numbers
dropped slightly in 1995 to 11,186 housing units. This was due to
the removal of some units by the City in accordance with a
preplanned redevelopment effort.
Major transportation routes in and through the City, including
Interstate 94 and 694, and State Highways 100 and 252, have
provided a continued impetus for development of a strong commercial
tax base in the City.
Commercial and industrial property comprises 55.10 of the City's
taxable net tax capacity. There are five major shopping centers
located in the City in addition to a large number of retail
establishments including K-Mart, Kohl's Department Store, Toys R
Us, Jerry's New Market. The largest commercial property in the
City is Brookdale Mall, a 1,000,000 square-foot regional shopping
center anchored by Daytons, Sears, Penny's and Mervyn's of
California. Brookdale Square, a 125,000 square-foot strip center
plus an 8-screen theater is occupied by Circu�t City, Drug Emporium
and Office Depot. The remaining three major retail shopping
centers include Shingle Creek Center, a 157,000 square-foot three
building center anchored by Target; Westbrook Mall, an 88,000
square-foot center anchored by Dayton's Home Store; and Brookview
Plaza, a 70,000 square-foot center anchored by Best Buy.
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New construction in 1996 included an 84-room Countr Suites
y Hotel
with two attached restaurants. One restaurant is TGI Fridays and
the other will be determined in the future. A free standing
Denny's restaurant seating 146 people was also constructed in 1996.
The building activity in 1995 included the construction of a 60-
unit Comfort Inn Hotel (28,000 square-feet) and a Fuddruckers
Restaurant (10,000 square-feet). In Brookdale Mall, Mervyn's
renovated the former Carson Pirie Scott store.
MAJOR EVENTS OF 1996
Brooklyn Center is a mature, developed suburb which is working to
revitalize itself. With its affordable housing, excellent schools,
beautiful parks, and convenient access, it has the potential to
continue �o be a vibrant community for many years to come. The
revitalization of Brooklyn Center is proceeding on three tracks;
replacement and renewal of the commercial areas of the City;
replacement and enhancement of its aged infrastructure, that is the
streets, utilities, and parks; and the reinvigoration of
neighborhoods.
During 1996, the City continued its redevelopment effort in the
Willow Lane neighborhood with the purchase of the Brookdale Motel.
The demolition of the motel has provided additional land for future
commercial development. Rainbow Foods is in the process of
redeveloping the Builders Square site into a new grocery store
(75,000 square-feet) and other leasable space. Tenants for the new
site include Walgreens Pharmacy (10,000 square-feet).
As part of the planned replacement of the City's infrastructure,
the City is in process of completing several major street and
utility improvements for the City. These improvements were funded
by general obligation bonds sold during 1996 and include the
capital projects funds and utility enterprise funds. The City
purchased new playground equipment at six neighborhood parks.
Funding for the new playground equipment was from the Capital
Improvements Fund.
The Police and Community Development Departments selected
neighborhoods for concentrated clean-up and neighborhood
improvements. Staff surveyed each residential property in the
selected neighborhood and left an advisory notice of code
violations observed. Later in the year, staff conducted another
inspection and issued clean-up orders to property owners who still
violate the City's codes. These visible results appear to be
accomplishing the City's objectives for strong residential
neighborhoods.
In a effort to revitalize the southeast corner of Brooklyn Center,
the City created the 53rd Avenue Development and Linkage Project.
The Project would start to create a new image and focus for the
southeast neighborhood by creating new homes, green space, and a
link to the Mississippi River. The project as conceptualized would
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require the removal of 28 housin units alon 53
g g rd to create
opportunities for a green way and a new low-traffic roadway. New
owner occupied housing would be developed on the land not needed
for the green way. The project is accounted for the Economic
Development Authority Fund.
FINANCIAL INFORMATION
The 1997 Minnesota legislature passed levy limits on cities. The
commissioner of revenue will determine a levy limit base for each
city consisting of the 1997 property tax levy and state aids and
adjust it using 1997 inflation and population increases. The new
base, minus 1998 state aids, will be the limit for 1998 property
taxes. Cities will be able to establish special levies in addition
to the levy limit base for a limited number of specified purposes,
including bonded indebtedness.
Management of the City is responsible for establishing and
maintaining an internal control structure desig�ed to ensure that
the assets of the City are protected from loss, theft or misuse and
to ensure that adequate accounting data are compiled to allow for
the preparation of financial statements in conformity with
generally accepted accounting principles. The internal control
structure is designed to provide reasonable, but not absolute,
assurance that these objectives are met. The concept of reasonable
assurance recognizes that: (1) the cost of a control should not
exceed the benefits likely to be derived; and (2) the valuation of
costs and benefits requires estimates and judgments by management.
In addition, the City maintains budgetary controls. The objective
of these budgetary controls is to ensure compliance with legal
provisions embodied in the annual budget appropriation approved by
the City's governing body. Activities of the general fund and
special revenue funds are included in the annual appropriated
budget. Project-length financial plans are adopted for the capital
projects funds. The level of budgetary control (that is, the level
at which expenditures cannot legally exceed the appropriated
amount) is established by department for the General Fund and at
the aggregate fund level for all other governmental funds that
adopt annual budgets. Appropriations lapse at year-end and
generally are not reappropriated in the following year's budget.
As demonstrated by the statements and schedules included in the
financial section of this report, the City continues to meet its
responsibility for sound financial management.
GENERAL FUND
The following schedule presents a summary of general fund budgeted
revenues for 1997, and actual revenues for the fiscal year ended
December 31, 1996, compared to 1995.
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General Fund Revenues Other Financinct Sources 1996
Increase
1997 1996 1995 Decrease
BUDGET ACTUAL ACTUAL From 1995
Taxes $6,676,878 $6,120,877 $5,946,363 174,514
Liczense permits 300,160 402,000 318,202 83,798
Intergovernmental
revenue 3,671,405 3,618,075 3,543,009 75,066
Cha�rges for
services 903,544 839,583 822,530 17,053
Court fines 192,000 186,761 178,263 8,498
Misc. revenues 282,000 328,750 271,509 57,241
Other financing
sources 100,000 100,000 100,000
TOTAL $12,125,987 $11,596,046 $11,179,876 $_416,170
Revenues and other financing sources for the General Fund totaled
$11,596,046 in 1996, an increase of $416,170 from the previous
year. From the table above, it is apparent that the major sources
of revenue available for funding of general governmental functions
are taxes and intergovernmental revenue, which when combined,
provide 84� of the total revenues. The principal sources of
intergovernmental aid to the City are homestead and agricultural
credit aid of $1,272,972 and local government aid of $1,865,664.
The following schedule presents a summary of general fund budgeted
expenditures for 1997, and actual expenditures for the fiscal year
ended December 31, 1996, compared to 1995.
General Fund Ext�enditures 1996
Increase
1997 1996 1995 -Decrease
__BUDGET_ ACTUAL ACTUAL From 1995
General Govt $2,053,620 $1,736,334 $1,831,045 -94,711
Public Safety 5,224,169 5,022,324 4,598,618 423,706
Public Works 1,969,690 1,270,438 1,363,244 -92,806
Community Serv 80,000 78,442 41,146 37,296
Parks Recr 2,296,742 2,282,054 2,226,121 55,933
Economic
Development 206,570 201,600 209,576 -7,976
Non-departmental 369,700 317,148 289,747 27,401
Admin Serv Reimb -699,141
Other Financing
Uses 624,637
TOTAL $12,125,987 $10,908,340 $10,559,497 $348,843
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Expenditures for the General Fund totaled $10,908,340 in 1996, an
overall increase of 3.3� when compared to 1995. The increase is
reflective of the 3.0� wage increase granted to all employees
except for Supervisor Union personnel who received 3.2� in 1996.
General government expenditures decreased primarily due to lower
recruiting and personnel costs. Increased expenditures in the
public safety area were due primarily to the costs associated with
the planned replacement of a fire truck. Public works expenditures
decreased due to lower personnel costs being charged to the General
Fund. Public work's personnel costs associated with capital
improvement projects were charged to the appropriate capital
project fund. The 1997 budget reclassifies the administrative
reimbursement into one budget category. In the past, the
administrative reimbursement was allocated to the respective
departments within the budget. The 1997 budget also reclassifies
debt service property tax revenues to the General Fund. The
General Fund budget plans for transfers to the debt service and
capital project funds during 1997.
GENERAL FUND BALAN
CE
The fund balance increased by $687,706 or 11.8� in 1996. The ending
fund balance of $6,522,498 is the equivalent of six months of
expenditures for the 1997 budget. Property taxes and inter-
governmental revenue represent 84$ of the budgeted general fund
revenue for 1996. The State of Minnesota has structured city
finances so most of these revenues are received in the second half
of the fiscal year. Minnesota cities typically receive as little
as 10� of their total revenues in the first six months of the year.
In recognition of this fact, a portion of the fund balance is being
designated for working capital.
ENTERPRISE OPERATIONS
The City's enterprise operations are comprised of seven separate
and distinctive activities: Liquor stores, Golf Course, Earle
Brown Heritage Center, Recycling, Water utility, Sanitary Sewer
utility, and Storm Drainage utility.
The liquor operation is composed of three retail stores. Two
stores are owned and one is leased.
Centerbrook Golf Course is a nine hole, par three golf course owned
and operated by the City. Green fees have been increasing each
year to keep pace with inflation.
The Earle Brown Heritage Center is a pioneer farmstead which has
been historically preserved and restored as a modern multipurpose
facility. Its convention center can host conferences, trade shows,
and conce�ts seating 1,000 people in either banquet or theater
style. The Inn on the Farm is a bed and breakfast with ten rooms
available. Earle's, a unique special occasion restaurant, is also
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t located at the Inn on the Farm. Several of the barns have been
restored as unique office settings which have found a niche in the
market. The City's policy for this enterprise is to set fees and
user charges at a level which allows the operations to break-even
excluding depreciation on contributed assets.
The dwindling supply of landfill space for the disposal of garbage
has become a major concern in Minnesota. State and county mandated
goals for the diversion of garbage to recycling programs took
effect in 1989. In response, the City opened a Recycling and
Refuse Fund as an enterprise fund. So far it is operating a
recycling program. Expansion into garbage collection will take
place when there is clear advantage to be achieved by it. Goals
for the recycling program are being met.
The Water and Sanitary Sewer utilities are largely developed and
already reach all parts of the City. Rates for both water and
sanitary sewer are reviewed annually and increased as needed to
cover inflation and the need for new capital outlays. Three-
fourths of the sewer operating expenses are fees paid to the
Metropolitan Council Environmental Services for sewage treatment.
Planned rate increases should be sufficient to keep them both
profitable.
During the 1980s, the State of Minnesota passed legislation that
requires cities to take greater responsibility for controlling
storm water runoff. In response to this, the City created a Storm
Drainage Utility Fund. Its fee structure is based upon the amount
of water discharged into the storm sewer system.
INTERNAL SERVICE FUNDS
The Central Garage Fund was established to own and maintain all
operating equipment of the City. At present, the fund maintains
some 155 pieces of rolling and non-rolling stock equipment with a
net book value of $2,431,018. Equipment maintenance, repair, fuel,
and replacement costs are provided from rental rates which the
Central Garage Fund charges City operating departments for the use
of the equipment.
The Public Employees Retirement Fund was established to provide
certain health care benefits for City employees who retire before
age 65. The fund had cash and investments of $1, Z25, 624 at the
1996 year-end.
AGENCY FUND
The Deferred Compensation Agency Fund accounts for the I.C.M.A.
Retirement Corporation plan with a market share value totaling
$3,593,460 for City employee plan members at year end.
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DEBT ADMINISTRATION
At December 31, 1996, the City had nine debt issues outstanding.
These issues include $2,295,000 of general obligation state aid
street bonds, $3,030,000 of special assessment debt with government
commitment, $1,720,000 of general obligation revenue bonds and
$13,205,000 of general obligation tax increment bonds. The City
maintained i�ts A-1 rating from Moody's Investors Service.
The City issued $1,440,000 of special assessment bonds in 1996 to
provide construction proceeds for various improvement projects in
the City. During 1996, the City used investments held in escrow
from the 1992 Tax Increment Refunding Bond issue to pay off the
remaining principal of the Tax Increment Bonds of 1985. The
refunding resulted in cumulative savings to the City of $430,748
with a net present value savings of $295,046.
CASH MANAGEMENT
The Finance Department keeps abreast of current trends and
procedures for cash management and forecasting so as to ensure
efficient and profitable use of the City's cash resources. Cash is
invested only in investments authorized by Minnesota Statutes
Chapter 475. The yield on investments ranged from a high of 7.8
percent to a low of 4.7 percent. Interest earned during 1996
amounted to $2,161,057 compared to $2,071,364 during 1995. The
City adopted a written investment policy in 1990 and adopted an
updated policy in 1997. The policy's objectives are to minimize
credit and market risk, provide needed liquidity, and maintain a
competitive yield on the portfolio.
All deposits were either insured by federal depository insurance or
collateralized. Investment securities are held in a custody
arrangement with a bank trust department. All investments are
listed in the lowest credit risk category, Category 1. Cash
balances for all funds of the City are maintained on a combined
basis and invested, to the extent possible, in short-term
securities. Earnings from securities are allocated to the various
funds in proportion to their relative cash book balances. In the
recent past, the City has not needed to use any short-term debt and
does not anticipate such a need in the future.
The City has not purchased any collateralized mortgage obligations,
derivatives, or interest only strip investments. Our practice is
to hold investments to maturity. The only reason to sell prior to
maturity is an unforeseen cash flow need. In the past four years,
there has been only one occasion where an investment was sold prior
to maturity. Of the City's portfolio as of December 31, 1996, 25�
matures within 1 year, another 37� in the second year, 9� in the
third year, 15$ in the fourth year, and the last 14� in the fifth
through the tenth years.
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RISK MANAGEMENT
The City insures all significant risk. A schedule of such
insurance is included in the Statistical Section.
INDEPENDENT AUDIT
The City Charter and State Statutes require the Council to provide
for an audit of the financial transactions of the City. Deloitte
Touche LLP has been retained for that purpose and their
unqualified opinion has been included in this report.
CERTIFICATE OF ACHIEVEMENT
The Government Finance Officers Association of the United States
and Canada (GFOA) awarded a Certificate of Achievement for
Excellence in Financial Reporting to the City of Brooklyn Center
for its comprehensive annual financial report for the fiscal year
ended December 31, 1995.
In order to be awarded a Certificate of Achievement for Excellence
in Financial Reporting, a governmental unit must publish an easily
readable and efficiently organized comprehensive annua2 financial
report, whose contents conform to program standards. Such reports
must satisfy both generally accepted accounting principles and
applicable legal requirements.
A Certificate of Achievement is valid for a period of one year
only. We believe our current report continues to conform to
Certificate of Achievement Program requirements, and we are
submitting it to GFOA to determine its eligibility for another
certificate.
ACKNOWLEDGMENTS
We want to express our appreciation to the Finance Department staff
for the assistance provided durinq the audit. We also wish to
express our appreciation to the City Manager and the Mayor and
members of the City Council for their continued interest and
support in planning and conducting the financial operations of the
City in a responsible and progressive manner.
Respectfully submitted,
C,�utn,Q� 1�l a�,as��►1
Charles Hansen
Director of Finance
r
Tim J�hnson
Assistant Director of Finance
12
erti ic�te o
Ac i
evement
or Exce�_
ence
in Finan i
c a_
Ae rti
o ng
Presented to
Cit of Brook_ n Center
y �y
Minnesot
a
For its Com rehensive Ann
p ual
Financial Report
f or the Fiscal Year Ended
December 31, 1995 r
A Certificate of Achievement for Excellence in Financial
Renorting is presented by the Government Finance Officers
Association of the United States and Canada to
govemment units and public emnloyee retirement
systems whose comprehensive annual financial
reports (CAFRs) achieve the highest
standards in government accounting
and financial reporting.
�ce oF
UNITED STATFS y
w AND N
GNpDA o
Preside
CXICAfi�
Executive Director
De oitte&
Touche «P
400 One Financial Plaza Telephone: (612) 397-4000
120 South Sixth Street Facsimile: (612) 397-4450
Minneapolis, Minnesota 55402-1844
INDEPENDENT AUDITORS' REPORT
The Honorable Mayor and Members
of the City Council of the
City of Brooklyn Center, Minnesota
We have audited the accompanying general purpose financial statements of the City of Brooklyn Center,
Minnesota (the City) as of December 31, 1996 and for the year then ended, listed in Section IIA of the
foregoing Table of Contents. These general purpose financial statements are the responsibility of the
City's management. Our responsibility is to express an opinion on these general purpose financial
statements based on our audit.
We conducted our audit in accordance with generally accepted auditing standards and Government
Audiang Srandards, issued by the Comptroller General of the United States. Those standards require that
we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial
statements are free of material misstatement. An audit includes examining, on a test basis, evidence
suppoRing the amounts and disclosures in the general purpose financial statements. An audit also
includes assessing the accounting principles used and significant estimates made by management, as well
as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable
basis for our opinion.
In our opinion, such general purpose financial statements present fairly, in all material respects, the
financial position of the City of Brooklyn Center, Minnesota at December 31, 1996 and the results of its
operations and cash flows of its proprietary fund types for the year then ended in conformity with
generally accepted accounting principles.
Our audit was conducted for the purpose of forming an opinion on the general purpose financial
statements taken as a whole. The accompanying combining and individual fund and account group
financial statements and schedules listed in the foregoing Table of Contents, which are also the
responsibility of the City's management, are presented for purposes of additional analysis and are not a
required part of the general purpose financial statements of the City. Such financial statements and
schedules have been subjected to the auditing procedures applied in our audit of the general purpose
financial statements and, in our opinion, are fairly stated in all material respects when considered in
relation to the general purpose financial statements taken as a whole.
In accordance with Government Auditing Standards, we have also issued a report dated April 30, 1997 on
our consideration of the City of Brooklyn Center's internal control structure and a repoR dated Apri130,
1997 on its compliance with laws and regulations.
A ril 30 1997
P
DeloitteTouche
Tohmatsu
International
City of Brooklyn Center, Minnesota
GENERAL PURPOSE FINANCIAL STATEMENTS
The general purpose financial statements are intended to provide a
financial overview of municipal operations. These reports are at
a summary level and include that data needed to control and analyze
current operations to determine compliance with legal and budgetary
limitations and to assist in the financial planning process.
r
r
r� 15
City of Brooklyn Center EXHIBIT 1
All Fund Types and Account Groups
COMBINED BALANCE SHEET (Continued next page)
December 31, 7996
Fiduciary Totals
Governmental Fund Types Proprietary Fund Types Fund Types Account Groups (Memorandum Only)
Generel General
Special Debt Capital Intemal Fixed Lonp-Term Oecember 31,
General Revenue Service Projects Enterprise Service Agency Assets Debt 1996 1995
ASSETS AND OTHER DEBITS
Cash and cash equivalents (Note 2) $3,589,889 $2,518,656 $1,225,165 $3,974,917 $3,407,830 $2,418,803 $17,135,260 $8,503,266
Investments (Note 2j 5,484,065 3,767,031 1,268,333 5,945,090 4,763,372 3,617,686 24,845,577 34,713,369
Receivables:
Axounts 163,658 30,867 1,312,892 5,603 1,513,020 1,253,006
Deli�quent taxes (Note 1J) 197,245 9,532 2,085 208,862 288,717
Special assessments:
Deferred 1,230 774,989 928,756 325.550 2,030,525 1,521,792
DelinqueM 5,957 6,556 78,q12 4,376 95,301 69,874
Due from other funds (Note 8) 873,932 776,058 203,619 812,091 2,665,700 2,991,215
Due from other govemments 37,818 212,261 132,977 234,367 617,423 2,331,440
Irnentories and supplies (Note tGj 379,059 13,160 392,219 366,634
Prepaid expenses 159,568 159,568 143,211
Advances W otherfunds(Note 8) 145,074 1,854,339 1.959,413 1.995,815
Restricted Investments (Note 1L) q,180,920
Investments fw deferred compensatron
pian at market (NWe 11) 53,593,460 3,593,460 3,174,761
PropertY, plant and equipment (Note 3) 43.365,090 4,696.440 $14.538,095 62,599,625 57,356,548
Less accumulated depreciation (9,487,340) (2,265,422)
(11,752,762) (11,067,051)
Amount available in Debt Se�vice Funds 52,260.484 2,260,484 6,451,107
Amount to be provided for Generol Long-
Term Debt 16,269,516 16,269,516 15,763,893
Total Assets and Othet Debits $10,458.868 57,283,538 $3,480,747 $13,757,449 $44,464,764 $8,486,270 $3,593,460 $14,538,095 $18,530,000 5124,593,197 $130,038,517
(See notes to financial statements)
�.r �w �r r �rr
Ciry of Brooklyn Center Exhibit t
All Fund Types and Account Groups
COMBINED BALANCE SHEET (Continued from prior page)
Oecember 31, 1996
Fiduciary Totals
Governmentai Fund Types Proprietary Fund Types Fund Types Account Groups Memorandum Only
General General
Special Debt CapiWl IMemal Fixed Long-Term December37,
LIABILITIES, EQUITY AND OTHER CREDITS General Revenue Service Projects Enterprise Service Agency Assets Debt 1996 1995
Liabilities
Accounts payable $387,303 S1 t,865 3389 $62,851 5305.382 $96,564 $864,354 5661,743
Contracts payable 724,560 140,062 864,6Y1 1,299,696
Securfties lending agreement 1,841,455 1,295,676 436,244 2,044,8T2 7,638,369 1,244,309 8,500,875 8,424,500
Due to other governments
Due to other funds (Note 8) 350,886 1,552,809 762,005 2,665,700 2,991,215
Accrued salaries and wages 195,508 3,979 1,987 55,630 6,070 263,174 180,392
Accrued vaca[ion 8 sick pay (Note 1H) 594,728 21,420 59,659 26,535 702,342 661,325
Accrued health insurance �,pq7,g2p �,pq�,gZp gg� pg�
Accrued interest payaWe 35,835 35,835 37,760 I
Advancesfromotherfunds(Note8) 698,143 1,261,270 1,959,413 7,995,875
Deferred revenue 917,376 9,532 783,630 1,140,145 Z,gsp,gg3 3.7pg,gg3
S1ate aid sVeet bonds payable (Note 6) g2,295.ppp Z.295,ppp z q55 ppp
Special assessment debt with government
commttment (Note 6) 3,030,000 3,030,000 1,705,000
Tax increment bonds payable (Note 6) 13,205,000 13,205,000 18,055,000
Reve�ue bonds payable (Note Gj 1,720.000 1,720,000 1,830,000
Deferred compensation funds held for
participants (Note 11) $3,593,460 3,593,460 3,174,761
v Total Liabilities 3,936,370 2,391,501 1,220,263 5,527,174 5,978,212 2,421,398 3,593,460 18,530,000 43,598,378 48,187,036
t
Eauiri and Other Credits
Contributed capital (Note 4) 21,042,114 3,645,126 24,687,240 24,856,207
Imrestrnent in general fixed assets 514,538,095 14,538,095 14,085.155
Retained earnings:
Reserved:
�M� �7�`� 237,595 798,315
Special assessments 329,926 329,926 134,570
Unreserved 16,876,917 2,419,746 19,296,6q 17.110,855
Fund Balances (Oeficits):
Resenred:
Debtservice 2,260,484 2,260.484 6,451,107
Bond proceeds 2,896,472 2,896.472 3,477,619
Housing projects Z0,918 2Q,918
Advances W ottier funds 105,074 1,854,339 1,959,413 1,995.815
Unresenred:
Designated:
Working capital 5,620,352 5,620,352 5,276,757
Unexpended appropriations 44,718 44,718 709,750
Undesignated 752,354 1,974,647 6,375,936 9,102,937 8,155,331
TotalEquityandOfherCredits 6,522,498 4,892,037 2,260,484 8,230,275 38,486,552 6,064,872 74,538,095 80,994,813 81,851,481
Total LiabiliUes, Equity 8 Other Credits 510,458,868 57,283.538 53,480,747 513,�57,449 $44,464,764 58,486,270 S3.5g3,q8p 514,538,095 $18,530,000 5124,593,191 5130,038,517
L
(See notes to financiai statemeMs)
City of Brooklyn Center EXHIBIT 2
All Governmentai Fund Types
COMBINED STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES (DEFICITS)
For the Year Ended December 31,1996
Totals
Special Debt Capital Memorandum Only
Revenues Generel Revenue Service Projects 1996 1995
Taxes and special assessmenls 36,120.877 52,619,170 $366,948 $60T,887 $9,714,882 58,718,25�
Licenses and permits 402,000 402,000 318,202
Intergovemmental 3,618,075 73,043 308,273 1,970,028 5,969,419 5,150,04�
Charges (or services 839,583 3,742 843,325 828,7
CouR fines 186,761 186,761 178,263
Investment eamings 312,831 344,234 181,250 545,741 1,384,056 1,215,231
Miscellaneous 15,919 30,681 46,600 32,02�
Total Revenues 11,496,046 3,070,870 856,471 3,123,656 18,547,043 16,440,814
Exoenditures
Curcent:
General govemment 1,736,334 1,736,334 1,831,045
Public safety 5,022,324 5,02Z,324 4,598,61�
Public works 1,270.438 1,270,438 1,363,244
Community services 78,442 7g,442 41,146
Parks and recreation 2,282,054 6,813 2,288,867 2,240,507
Economic development 201,600 498,922 700,522 776,532�
Non-departmental 317,148 317,148 289,74
Capital outlay 608,875 5,205,248 5,814,123 3,493,127
Debt service:
Principal retirement 5,125,000 5,125,000 825,000
Interest and fiscal charges 34,914 1,109,860 140,642 1,285,416 1,248,82
Total Expenditures 10,908,340 1,149,524 6,234,860 5,345,890 23,638,614 1B,707,79�
Excess or Deficiency(-) of Revenues Over Expenditures 587,706 1,921,346 (5,378,389) (2,222,234) (5,091,571) (266.9
Other Financina Sources or Uses(-)
Proceeds irom sale ot bo�ds 7,766 1,422,720 1,430,486 5,284,753�
Operating iransfers in 100,000 193,524 5,360,000 5,653,524 1,793,736
Operating transfers out (1,373,524) (4,180,000) (5,553,524) (1,693,736�
Total Other Financing Sources or Uses(-) 100,000 (1,180,000) 1,187,766 1,422,720 1,530,486 5,384,753
Excess or Deficiency(-) oi Revenues and Otfier
Sources Over Expenditures and Other Uses 687,706 741,346 (4,190,623) (799,514) (3,561,085) 5,117,776
Fund Balances (Deficits) January 1 5,834,792 4,214,374 6,451,107 8,966,106 25,466,379 20,348,603
Equity Transfers OW (63,683) 63,683
Fund Balances (Deficits) December 31 $6,522,498 $4,892,037 SZ,260,484 58,230,275 521.905.294 525,466,379
(See nofes to financial statemenis)
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18
EXHIBIT 3
City of Brooktyn Center
General and Speciai Revenue Funds
COMBINED STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL
For the Year Ended December 31, 1996
General Fund Special Revenue Funds
Actual Over Actual Over
Under(-) Under(-)
Budget Actual Budget Budget Actual Budget
Revenues
Taxes and speciai assessments $6,355,958 56,120,877 ($235,081) 51,643,539 52,619,170 5975,6:i1
Licenses and permits 348,850 402,000 53,150
Intergovernmental 3,540,018 3,618,075 78,057 287,428 73,043 (214,385)
Charges for services 886,068 839,583 (46,485) 12,000 3,742 (8,258)
Court fines 144,000 186,761 42,761
Investment earnings 250,000 312,831 62,831 106,000 344,234 238,234
Miscellaneous 13,833 15,919 2,086 30,681 30,681
Total Revenues 11,538,727 11,496,046 (42,681) 2,048,967 3,070,870 1,021,903
Exnend'itures
Generel government 1,873,246 1,736,334 (136,912)
Public safety 5,162,530 5,022,324 (140,206)
Publicworks 1,545,021 1,270,438 (274,583)
Community services 79,047 78,442 (605)
Parks and recreation 2,502,915 2,282,054 (220,861) 30,000 6,813 (23,18�
Economic development 228,000 201,600 (26,400) 1,827,442 1,107,797 p19,64�
Non-departmental 337,371 317,148 (20,223)
lnterest and fiscal charges 90,000 34,914 (55,086)
Total Expenditures 11,728,130 10.908,340 (819,790) 1,947,442 1,149,524 (797,918)
Exeess or Deficiency(-) of Revenues
OverExpenditures (189,403) 587,706 777,109 101,525 1,921,346 1,819,821
Other Financinq Sources or Uses(-1
Operadng transfers in 100,000 100,000 407,064 193,524 (213,540)
Operating transfers out (1,587,064) (1,373,524) 213,540
Total Other Financing Sources or Uses(-) 100,000 100,000 0 (1,180,000) (1,180,000) 0
Excess or Deficiency(-) of Revenues and Other
Sources Over Expenditures and Other Uses (89,403) 687,706 777,109 (1,078,47� 741,346 1,819,821
Fund Balances January 1 5,834,792 5,834,792 4,214,374 4,214,374
Equity Transfer Out (63,683) (63,683)
Fund Balances December 31 $5,745,389 $6,522,498 5777,109 $3,135,899 $4,892,037 $1,756,138
(See notes to financial statements)
19
City of Brooklyn Center EXHIBIT 4
Proprietary Fund Types
COMBINED STATEMENT OF REVENUES, EXPENSES, AND CHANGES r�
IN RETAINED EARNINGS
For the Year Ended December 31, 1996
Intemal Totals
Enterprise Service (Memorandum Only)
Operatina Revenues Funds Funds 1996 1995
Sales and userfees $10,204,568 $1,416,469 $11,621,037 $10,901,501
Cost of sales 2,565,231 2,565,231 2,421,192
Net Operating Revenues 7,639,337 1,416,469 9,055,806 8,480,309
Operatina Exoenses
Personal services 2,387,977 309,825 2,697,802 3,413,925
Supplies 288,153 239,093 527,246 489,833
Other senrices 2,709,862 64,868 2,774,730 2,678,408
tnsurance 67,989 34,691 102,680 106,430
Utilities 331,150 331,150 344,069
Rent 92,774 92,774 86,718
Depreciation 771,259 388,345 1,159,604 1,097,807
Total Operating Expenses 6,649,164 1,036,822 7,685,986 8,217,190
Operating Income (Loss) 990,173 379,647 1,369,820 263,119 ,t
Nonoqeratinp Revenues or Exnenses
Investment earnings 503,586 273,415 777,001 856,133
Speciat assessments (for service
hookups and delinquencies) (6,248) (6,248) 14,194
Other revenue 14,886 14,886 7,584
Gain (Loss) on disposal of fixed assets (772) 33,047 32,275 9,680
Interest and fiscal agent fees (190,342) (190,342) (192,851)
Total Net Nonoperating 321,110 306,462 627,572 694,740
tncome (Loss) Before Operating Transfers 1,311,283 686,109 1,997,392 957,859
Operating Transfers In
Operating Transfers Out (100,000) (100,000) (100,000)
Net Income (Loss) 1,211,283 686,109 1,897,392 857,859
Depreciation on contributed assets that
reduces contributed capital 309,772 213,280 523,052 592,771
Retained Earnings January 1 15,923,383 1,520,357 17,443,740 15,993,110
Retained Earnings December 31 $17,444,438 $2,419,746 $19,864,184 $17,443,740
(See notes to financial statements)
-20-
City of Brooklyn Center EXHIBIT 5
Proprietary Fund Types
COMBINED STATEMENT OF CASH FLOWS
For the Year Ended December 31, t996
Intemal Totals
Enterprise Service (Memorandum Only)
Cash flows from ooeratina activfies: Funds Funds 1996 1995
Operating income (loss) $990,173 $379,647 $1,369,820 a263,119
Adjustments to reconcile operating income (loss) to
net cash provided by operating actvities:
Depreciation 771,259 388,345 1,159,604 1,097,807
Changes in assets and liabilities:
Receivables 35,113 7,966 43,079 526,809
Inventories (22,470) (3,115) (25,585) (20,185)
Prepaid expenses (16,357) (16,357) (54)
Payables (784,648) (6,798) (791,446) 879,366
Securities lending agreement (693,345) 109,824 (583,521) 3,194,235
Accrued expenses 25,067 5,043 30,110 12,400
Accrued interest payable (1,925) (1,925)
Accrued health insurance liability 60,839 60,839 781,205
Other nonoperating income 8,638 8,638 21,778
Net cash provided by operating activities 311,505 941,751 1,253,256 6,756,480
Cash flows from noncaoital financino activities:
Proceeds from borrowings on advance from other funds 11,500
Proceeds from borrowings on due to other funds 177,005 177,005 206,550
Principal payments on advance from other funds (36,402) (36,402) (22,813)
Principal payments on due from other funds (10,755) {10,755)
Interest paid on advance from other funds (67,673) (67,673) (70,273)
�nterest paid on due to other funds (35,979) (35,979) (31,653)
Operating transfers out (100,000) (100,000) (100,000)
Net cash provided by (used for) noncapital financing activities (73,804) (73,804) (6,689)
Cash flows from caoital and related financina activfies:
Capital contributions 354,085 354,085 146,963
Acquisition and construction of capital assets (4,430,187) (885,'!16) (5,315,303) (3,395,851)
Proceeds from sale of fixed assets 83,548 83,548 24,685
Principal paid on revenue bonds (110,000) (110,000)
Interest paid on revenue bonds (86,690) (86,690) (90,925)
Net cash provided by (used for) capital and related
financing activities (4,272,792) (801,568) (5,074,360) (3,315,128)
Cash flows from investinq activities:
Investments purchased (1,094,967) (83T,612) (1,926,579) (10,037,425)
Investments sold or matured 5,655,776 1,750,564 7,406,340 8,024,259
Interest on investments 503,586 273,415 777,001 856,133
Net cash provided by (used for) investing activities 5,064,395 1,192,367 6,256,762 (1,157,033)
Net increase in cash and cash equivalents 1,029,304 1,332,550 2,361,854 2,277,630
Cash and cash equivalents at beginning of year 2,378,526 1,086,253 3,464,779 1,187,149
Cash and cash equivalents at end of year $3,407,830 $2,418,803 55,826,633 $3,464,779
NONCASH FINANCING, CAPITAL, AND INVESTING ACTIVITIES
Gain (loss) on disposal of fixed assets ($772) $33,047 $32,275 $9,680
(See notes to financial statements)
Citv of Brooklvn Center y�
NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 1996
Note l: Summarv of Sictnificant Accountinct Policies
The City of Brooklyn Center, Minnesota (City) was formed and
operated pursuant to applicable Minnesota laws and statutes.
The governing body consists of a five-member City Council
elected at large to serve four-year staggered terms.
A. Renortina Entitv
The City includes all funds, organizations, institutions,
agencies, departments and offices that are not legally
separate from such. Component units are legally separate
organizations for which the elected officials of the City are
financially accountable and are included within the general
purpose financial statements of the City because of the
significance of their operational or financial relationships
with the City.
BLENDED COMPONENT UNYTS:
Blended component units, although legally separate entities,
are, in substance, part of the government's operations and so
data from these units are combined with data of the primary
government.
Economic Development Authority (EDA) and Housing and
Redevelopment Authority (HRA) in and for the City of Brooklyn
Center:
The governing boards are the City Council. The Council
reviews and approves EDA and HRA tax levies, and the City
provides major community development financing for EDA and HRA
activities. Debts issued for EDA and HRA activities are City
general obligations. Although the EDA and HRA are legally
separate from the City, they are reported as if they were part
of the City because their sole purpose is carry out certain
redevelopment projects for the City. Complete financial
statements for the EDA and HRA may be obtained at the City
offices located at 6301 Shingle Creek Parkway, Brooklyn
Center, Minnesota 55430.
JOINT VENTURES AND JOINTLY GOVERNED ORGANIZATIONS:
The City has several agreements with governmental and other
entities which provide reduced costs, better service, and
additional benefits to the participants. These programs,
which the City participates in, are listed below and amounts
recorded within the current year financial statements are
disclosed.
-22-
Note 1: Summarv of Sianificant Accountina Policies (continued)
A. Rebortina Entitv (continued)
Local Government Information Systems Association (LOGIS):
This consortium of approximately 20 government entities
provides computerized data processing and support services to
its members. LOGIS is legally separate; the City does not
appoint a voting majority of the Board, and the Consortium is
fiscally independent of the City. The total amount recorded
within the 1996 financial statements of the City was $265,288
for services provided which is allocated to the various funds
based on applications. Complete financial statements may be
obtained at the LOGIS offices located at 2700 Freeway
Boulevard, Suite 300, Brooklyn Center, Minnesota 55430.
LOGIS Insurance Group:
�i This group provides cooperative purchasing of health and life
insurance benefits for approximately 45 government entities.
The total amount recorded within the 1996 financial statements
of the City was $463,827 for services provided.
OTHER:
The Brooklyn Center Fire Department Relief Association
(Association):
The Association is organized as a nonprofit organization,
legally separate from the City, by its members to provide
pension and other benefits to such members in accordance with
Minnesota Statutes. Its board of directors is appointed by
the membership of the Association and not by the City Council
and the Association issues their own set of financial
statements. All funding is conducted in accordance with
applicable Minnesota Statutes, whereby state aids flow to the
Association, tax levies are determined by the Association, and
are only reviewed by the City and the Association pays
benefits directly to its members. The Association may certify
tax levies to Hennepin County directly if the City does not
carry out this function. Because the Association is fiscally
independent of the City, the financial statements of the
Association have not been included within the City's reporting
entity. (See Note 15 for disclosures relating to the pension
plan operated by the Association.) The City's portion of the
costs of the Association's pension benefits is included in the
General Fund under public safety.
23
Note 1: Summarv of Sianificant Accountinc� Policies (continued)
B. Fund Accountina
The accounts of the City are organi2ed on the basis of funds
and account groups, each of which is considered a separate
accounting entity. The operations of each fund are accounted
for with a separate set of self-balancing accounts that
comprise its assets, liabilities, fund equity, revenues, and
expenditures, or expenses, as appropriate. Government
resources are allocated to and accounted for in individual
funds based upon the purposes for which they are to be spent
and the means by which spending activities are controlled.
The variaus funds are grouped, in the financial statements in
this report, into seven generic fund types and three broad
fund categories as follows:
GOVERNMENTAL FUNDS:
General Fund The General Fund is the general operating fund
of the City. It is used to account for all financial 1�
resources except those required to be accounted for in another
fund.
Special Revenue Funds Special Revenue Funds are used to
account for the proceeds of certain specific revenue sources
that are legally restricted to expenditures for specified
purposes.
Debt Service Funds Debt Service Funds are used to account
for the accumulation of resources for, and the payment of,
general long-term debt principal, interest and related costs.
Capital Projects Funds Capital Projects Funds are used to
account for financial resources to be used for the acquisition
or construction of major capital facilities, other than those
financed by proprietary funds.
PROPRIETARY FUNDS:
Enterprise Funds Enterprise Funds are used to account for
operations that are financed and aperated in a manner similar
to private business enterprises where the intent is that the
costs (expenses, including depreciation) of providing goods or
services to the general public on a continuing basis be
financed or recovered primarily through user charges.
Internal Service Funds Internal Service Funds are used to
account for the financing of goods or services provided by one
department to other departments of the City on a cost
reimbursement basis.
-24-
Note 1: Summarv of Sianificant Accountinct Policies (continued)
B. Fund Accountina (continued)
FIDUCIARY FUNDS:
Agency Funds Agency Funds are used to account for assets
held by the City as an agent for others.
C. Fixed Assets and Lonct-Term Liabilities
The accounting and reporting of fixed assets and long-term
liabilities associated with a fund are determined by its
measurement focus. All governmental funds are accounted for
on a spending or "financial flow" measurement, which means
that only current assets and current liabilities are generally
included on their balance sheets. Their reported fund balance
is considered a measure of "available spendable resources."
Governmental fund operating statements present increases
(revenues and other financing sources) and decreases
(expenditures and other financing uses) in net current assets.
Accordingly, they are said to present a summary of sources and
uses of "available spendable resources" during a period.
Fixed assets used in governmental fund type operations are
accounted for in the GeneraZ Fixed Assets Account Group,
rather than in the governmental funds. Public domain general
fixed assets consisting of certain improvements other than
buildings, including roads, curbs and gutters, streets and
sidewalks, drainage systems, and lighting systems have been
excluded from general fixed assets, as such items are
immovable and of value only to the City. No depreciation has
been provided on general fixed assets.
All fixed assets are valued at historical cost or estimated
historical cost if historical cost is unavailable. Donated
fixed assets are valued at their estimated market value as of
the date donated.
The fixed assets of the proprietary funds are depreciated
using the straight-line method over the estimated useful lives
of the assets. The estimated useful lives are as follows:
Water Sewer Mains Lines 100 years
Buildings and Structures 20-40 years
Water Wells and Storage Tanks 15-50 years
Sewer Lift Stations 15-40 years
Machinery and Equipment 5-20 years
Furniture and Fixtures 5-20 years
Public Utility assets financed by special assessments are
recorded as contributions.
25
Note 1: Summarv of Sictnificant Accountinc� Policies (continued)
C. Fixed Assets and Lonq-Term Liabilities (continued)
Long-term liabilities expected to be financed from
governmental funds are accounted for in the General Long-Term
Debt Account Group, not in the governmental funds.
All proprietary funds are accounted for on a flow of economic
resources measurement focus. With this measurement focus, all
assets and all liabilities associated with the operations of
these funds are included on the balance sheet. Fund equity
(e.g., net total assets� is segregated into contributed
capital and retained earnings components. Proprietary
fund-type operating statements present increases (e.g.,
revenues) and decreases (e.g., expenses) in net total assets.
D. Basis of Accountinq
Governmental funds and agency funds are accounted for using
the modified accrual basis of accounting. Their revenues are
recognized when they become measurable and available.
Available means collectible within the current period or soon
enough thereafter to be used to pay liabilities of the current
period.
Major revenues that are susceptible to accrual include taxes,
special assessments, intergovernmental revenues, charges for
services, and investment earnings. Major revenues that are
not susceptible to accrual include licenses and permits, fees
and miscellaneous revenues; such revenues are recorded only as
received because they are not measurable until collected.
Interest on special assessments is recognized as revenue when
due, net of delinquencies.
Expenditures are generally recognized under the modified
accrual basis of accounting when the related fund liability is
incurred, except for principal and interest on general
long-term debt which is recognized when due.
All proprietary funds are accounted for using the accrual
basis of accounting. Their revenues are recognized when they
are earned, and expenses are recognized when they are
incurred. Unbilled Water and Sewer fund utility service
receivables are recorded at year end. The City applies all
applicable Financial Accounting Standards Board (FASB)
pronouncements issued prior to November 30, 1989 in accounting
for its proprietary operations.
E. Budaets and Budaetarv Accountina
The City follows these procedures establishing the budgetary
data reflected in the financial statements:
-26-
Note 1: Summarv of Sianificant Accountina Policies (continued)
E. Budaets and Budaetarv Accountina (continued)
1. In August, the City Manager submits to the City Council
proposed operating budgets for the fiscal year commencing the
following January. The operating budgets include expenditures
and the means of financing them.
2. The County mails individual property tax notices showing
the taxes which would result from the proposed budgets of all
taxing units to each property in November.
3. Pub].ic hearings are conducted to obtain taxpayer comments.
4. The budgets are legally enacted through passage of a
resolution by the City Council in the month of December.
5. The City Council must authorize any transfer of budgeted
amounts between departments within the general fund.
6. Supplemental appropriations during the year may only be
made by the City Council. These amounts must be financed by
funds from the contingency reserve set up in the general fund
or by additional revenues.
7. All budget amounts lapse at the end of the year to the
extent they have not been expended.
8. Formal budgetary integration is employed as a management
control device during the year for all governmental funds with
th� exception of Debt Service Funds and the Capital Project
Funds which have adopted project-length budgets. Formal
budgetary integration is not employed for Debt Service Funds
because effective budgetary control is alternatively achieved
through qeneral obligation bond indenture provisions.
Budgetary control for project-length Capital Projects Funds is
accomplished through the use of project controls.
9. Budgets are adopted on a basis consistent with generally
accepted accounting principles. Annual appropriated budgets
are adopted for all qovernmental funds except for Debt Service
Funds and the project-length Capital Project Funds.
10. Budgetary control is maintained at the department level
for the General Fund and at fund level for all other
governmental funds that adopt annual budgets.
11. Budgeted amounts are as originally adopted, or as amended
by the City Council. Individual and aggregate amendments were
not material in relation to the original appropriations.
2 7
Note 1: 5ummarv of Sictnificant Accountinqr Policies (continued)
F. Investments
Cash balances from all funds are combined and invested to the
extent available in authorized investments (see Note 2).
Earnings from such investments are allocated to the respective
funds on the basis of applicable cash balance participation by
each fund. Cash and investments are stated at amortized cost
(which approximates market) except for Deferred Compensation
Fund assets which are recorded at market. All highly liquid
unrestricted investments with a maturity of three months or
less when purchased are considered to be cash equivalents.
G. Inventorv
Inventories in the proprietary funds are valued at cost, using
the weighted average in the Municipal Liquor Fund and the
first-in/first-out (FIFO) method in the other proprietary
funds. The costs of governmental fund type supplies are
recorded as expenditures when purchased.
H. Accumulated Untiaid Vacation and Sick Pav
The City pays employees severance pay upon termination of
employment based on accumulated sick leave and accrued
vacation. Such pay is accrued as an expenditure/expense as it
is earned.
I. Fund Eauitv
Contributed capital is recorded in proprietary funds that have
received capital grants or contributions from developers,
customers or other funds.
Reserves represent those portions of fund equity not
appropriable for expenditure or legally seqregated for a
specific future use. Designated fund balance represents
tentative plans for future use of financial resources.
J. Probertv Tax
Property tax levies are set by the City Council in December of
each year, and are certified to Hennepin County for collection
in the following year. In Minnesota, counties act as
collection agents for all property taxes.
The County spreads all levies over taxable property. Such
taxes become a li�n on January 1 and are recorded as
receivables by the City at that date. Revenues are accrued
and recognized in the year collectible, net of delinquencies.
-28-
Note 1: Summarv of Sianificant Accountinq Policies (continued)
J. Pronertv Tax (continued)
Real property taxes may be paid by taxpayers in two equal
installments on May 15 and October 15. Personal property
taxes may be paid on February 28 and June 30. The County
provides tax settlements to cities and other taxing districts
two times a year, in July and December.
Taxes which remain unpaid at December 31 are classified as
delinquent taxes receivable and are fully offset }�y deferred
revenue because they are not known to be available to finance
current expenditures. At December 31, 1996, the City has
recorded $712,944 in deferred revenue for the General Fund for
estimated property tax abatements that are anticipated to be
repaid to the County in future years.
K. Conduit Debt Obliaations
From time to time, the City has issued Industrial Revenue
Bonds to provide assistance to private sector entities for the
acquisition and construction of industrial and commercial
facilities deemed to be in the public interest. The bonds are
secured by the property financed and are payable solely from
payments received on the underlying mortgage loans. Upon
repayment of the bonds, ownership of the acquired facilities
transfers to the private sector entity served by the bond
issue. Neither .the City, the State, nor any political
subdivision thereof is obligated in any manner for repayment
of the bonds. Accordingly, the bonds are not reported as
liabilities in the accompanying financial statements.
L. Restricted Investments
Investments in the Refunding Tax Increment Bonds of 1992 Debt
Service Fund are classified as restricted in 1995 becuase the
securities have been placed in a irrevocable trust with an
escrow agent.
M. Reclassification
Certain 1995 accounts have been reclassified to conform to the
1996 presentation.
N. Total Columns on Combined Statements
Total columns on the Combined Statements are captioned
Memorandum Only to indicate that they are presented only to
facilitate financial analysis. Data in these columns do not
present financial position, results of operations, or cash
flows in conformity with generally accepted accounting
principles. Interfund eliminations have not been made in the
aggregation of this data.
-29-
Note 2: Cash, Investments, and Securities Lendinq
A. Detiosits
In accordance with Minnesota Statutes, the City maintains
deposits at those depository banks authorized by the City
Council. All such depositories are members of The Federal
Reserve System.
Minnesota Statutes require that all City deposits be protected
by insurance, surety bond, or collateral. The market value of
collateral pledged must equal 110� of the deposits not covered
by insurance or bonds (140� in the case of mortgage notes
pledged).
Authorized collateral includes the legal investments described
below, as well as certain first mortgage notes, and certain
other state or local government obligations. Minnesota
Statutes require that securities pledged as collateral be held
in safekeeping by the City treasurer or in a financial
institution other than that furnishing the collateral.
At December 31, 1996 the carrying amount of the City�s demand
deposits was $213,962 and the bank balance was $516,537. Of
the bank balance, $154,472 was covered by federal depository
insurance (risk category A) and the remainder was covered by
collateral held in the pledging bank's trust department in the
City's name (risk category B).
Risk Cateaorv
(A) Insured or collateralized by securities held
by the City or its agent in the City's name.
(B) Collateralized with securities held by the
pledging institution's trust department
in the City�s name.
(C) Uncollateralized or collateralized with securities
held by the pledging institution's trust department
or agent, but not in the City's name.
B. 5ecurities Lendinq Transactions
State statutes and City policies permit the City to use its
investments to enter into securities lending transactions
loans of securities to broker-dealer•s and other entities for
collateral with a simultaneous agreement to return the
collateral for the same securities in the future. The City's
securities custodians are agents in lending the City's
securities for cash collateral of 102 percent of the market
-30-
Note 2: Cash. Investments. and Securities Lendina (continued)
B. Securities Lendina Transactions (continued)
value of the security. Securities on loan at year-end are
presented as unclassified in the following schedule of
custodial credit risk. At year-end, the City has no credit
risk exposure to the borrowers because the amounts the City
owes the borrowers exceed the amounts the borrowers owe the
City. Contracts with the lending agents require them to
indemnify the City if the borrowers fail to return the
securities (and if the collateral is inadequate to replace the
securities lent) or fail to pay the City for income
distributions by the securities� issuers while the securities
are on loan.
All securities can be terminated on demand by either the City
or the borrower, although the average term of the loan is four
months. In lending securities, cash collateral is invested in
securities authorized by Minnesota statutes, generally with
average maturities of approximately one month.
C. Investments
The City may also invest idle funds as authorized by
Minnesota Statutes, as follows:
(a) Direct obligations or obligations guaranteed by
the United States or its agencies.
(b) Shares of investment companies registered under
the Federal Investment Company Act of 1940 and
whose only investments are in securities described
in (a) above.
(c) General obligations of the State of Minnesota or
any of its municipalities.
(d) Bankers acceptances of United States banks eligible
for purchase by the Federal Reserve System.
(e) Commercial paper issued by United States
corporations or their Canadian subsidiaries, of the
highest quality, and maturing in 270 days or less.
(f) Repurchase or reverse repurchase agreements with
banks that are members of the Federal Reserve
System with capitalization exceeding $10,000,000,
a primary reporting dealer in U.S. government
securities to the Federal Reserve Bank of New York,
or certain Minnesota securities broker-dealers.
31
Note 2: Cash, Investments, and Securities Lendina continued
C. Investments (continued)
(g) Future contracts sold under authority of
Minnesota Statutes 471.56, subdivision 5.
The City's investments are categorized below to give an
indication of the level of custodial credit risk assumed at
year-end. Category 1 includes investments that are insured or
registered or for which the securities are held by the City or
its agent in the City's name. Category 2 includes uninsured
and unregistered investments for which the securities are held
by the counter party's trust department or agent in the City�s
name. Category 3 includes uninsured and unregistered
investments for which the securities are held by the counter
party, or by its trust department or agent, but not in the
City�s name. In accordance with GASB 3, investments in a
money market fund are not categorized as to custodial credit
risk.
Balances at December 31, 1996:
Credit Risk Category Carrying Market
Securities Type 1 2 3 Amount Value
Investments Categorized
U.S. Governments $12,033,655 $12,033,655 $11,944,110
Federal Agencies 12,811,497 12,811,497 12,613,250
$24,845,152 $0 $0 24,845,152 24,557,360
Investments Not categorized
Investments held by broker-dealers
under securities loans
Money market fund 44,978 44,978
Commercial paper 4,754,410 4,754,410
Repurchase agreements 3,701,487 3,701,487
Money market funds 8,414,448 8,414,448
Deferred compensation plan at
market value 3,593,460 3,593,460
Totallnvestments $45,353,935 $45,066,143
-32-
NOTE 2: Cash. Investments and Securities Lendinp (continuedl
SUMMARY OF CASH AND INVESTMENTS
Balances at December 31, 1996
Cash: Carrying
Amount
Marquette Bank Brookdale, Brooklyn Center, Minnesota $165,616
Riverside Bank, Minneapolis, Minnesota 48,346
Change funds 6,400
Totai Cash $220,362
Investments:
Investment Tvne Interest Rate Maturity
U.S. Treasury notes 5.1 7.8% 1997 2001 $12,033,655
Federai Home Loan Bank bonds 6.0 6.9% 1997 2000 3,937,230
Federal Home �oan Mortgage
bonds 5.2 7.0% 1998 2006 1,110,614
Federal National Mortgage
Association bonds 5.3 7.7% 1998 2006 7,763,653
Commercial paper Floating Rate 1997 4,754,410
Repurchase agreements 5.3 7.2% 1997 3,701,487
Minnesota Municipal Money Market Fund, Insight Investment Management,
Minneapolis, Minnesota 3,160,622
Voyageur Prime Cash Money Market Fund, Marquette Tnast, Minneapolis,
Minnesota 550,647
Money Market Fund, First Trust, St. Paul, Minnesota 4,703,179
Dreyfus Treasury Prime Money Market Fund, St. Paul, Minnesota 44,978
Investments for deferred compensation plan at market value 3,593,460
Total Investments $45,353,935
Total Cash, Cash Equivalents and Investments $45,574,297
From Exhibit 1, COMBINED BALANCE SHEET
Cash and cash equivalents $17,135,260
Investments 24,845,577
Investments for deferred compensation plans 3,593,460
$45,574,297
33
Note 3: Fixed Assets
Changes in the General Fixed Assets Account Group during 1996 were as follows:
Balance Balance
Jan. 1, 1996 Additions Disposals Dec. 31, 1996
Land $2,369,801 $2,369,801
Buildings Improvements 6,215,497 $11,014 6,226,511
Park Improvements 3,110,631 245,201 $76,785 3,279,047
Furniture Fixtures 1,306,679 195,869 12,410 1,490,138
Departmental Equipment 1,082,547 90,051 1,172,598
TOTAL GENERAL FIXED
ASSETS $14,085,155 $542,135 $89,195 $14,538,095
The following is a summary of proprietary fund-type fixed assets at December 31, 1996:
Intemal
Enterprise Service
Funds Funds
Land $2,738,600
Land improvements 92,954
Buildings 8� improvements 17,399,614
Mains 8� Lines 21,852,447
Departmental Equipment 1,281,475 $4,696,440
Total 43,365,090 4,696,440
Less accumulated depreciation (9,487,340) (2,265,422)
Net $33,877,750 $2,431,018
Note 4: Contributed Caqital
During 1996 contributed capital changed by the following amounts:
Internal
Enterprise Service
Funds Funds
Additions:
Improvement construction $354,085
Deductions:
Depreciation on contributed assets (309,772) ($213,280)
Net Change 44,313 (213,280)
Contributed Capital, January 1, 1996 20,997,801 3,858,406
Contributed Capital, December 31, 1996 $21,042,114 $3,645,126
-34-
Note 5: Oberatincr Leases
The City leases space for the operation of one of its three
municipal liquor stores under a noncancelable five-year lease.
The lease provides for minimum rent payments, plus a pro-rata
share of common area expenses. Total rental expense under the
lease agreement for the years ended December 31, 1996 and 1995
was $35,936 and $32,584, respectively. Future minimum rent
payments are as follows:
Year Endina Amount
1997 27,207
1998 28 087
1999 7,040
62,334
The Earle Brown Heritage Center Fund, which operates as an
enterprise fund, leases space to four tenants. Three of the
leases have terms greater than one year and require annual
rent increases to cover the anticipated effects of inflation.
Rental revenues and expenditures under the lease agreements
are as follows:
__1996__ __1995__
Rental Revenues $110,505 $112,109
Rental Expenditures 81,924 $102,742
Total minimum rentals to be received in the future under the
lease terms are as follows:
Year Endin Amount
q
1997 45,620
1998 9,918
i
I 3 5
Note 6: Lona-Term Debt
The City's long-term debt includes state aid street bonds,
special assessment improvement bonds, and tax increment bonds;
all of which are recorded in the General Long-Term Debt
Account Group. In addition, the City issued storm sewer
revenue bonds which are recorded as a liability in the Storm
Drainage Fund.
The following is a summary of bond transactions for the year
ended December 31, 1996:
State Special Storm Sewer Tax
Aid Street Assessment Revenue Increment
Bonds Bonds Bonds Bonds Total
Bonds payable
January 1 $2,455,000 $1,705,000 $1,830,000 $18,055,000 $24,045,000
Bonds issued 1,440,000 1,440,000
Bonds retired 160,000 115,000 110,000 4,850,000 5,235,000
Bonds payable
December 31 $2,295,000 $3,030,000 $1,720,000 $13,205,000 $20,250,000
The annual requirements to amortize all outstanding debt as of
December 31, 1996, including interest of $6,961,945, are as
follows:
State Special Storm Sewer Tax
Aid Street Assessment Revenue Increment
Bonds Bonds Bonds Bonds Totai
1997 $308,588 $307,647 $237,595 $1,535,892 $2,389,722
1998 308,478 394,816 240,390 1,555,040 2,498,724
1999 307,560 407,724 237,557 1,827,232 2,780,073
2000 310,706 404,440 239,110 1,875,554 2,829,810
2001 312,740 390,606 239,950 1,969,409 2,912,705
2002 on 1,559,862 1,920,340 954,100 9,366,609 13,800,911
$3,107,934 $3,825,573 $2,148,702 $18,129,736 $27,211,945
If special assessments are not adequate to retire the
outstanding debt, the City's full faith and credit are pledged
for their redemption. The general obligation state aid
street, tax increment and storm sewer revenue bonds are backed
by the full faith and credit of the City.
There are a number of limitations contained in the various
bond indentures. The City is in compliance with all
requirements of the indentures.
-36- r
Note 6: Long-Term Debt (continued)
Long-term debt obligations outstanding at year-end are summarized as follows:
Bond
Payment Issue Maturity Authorized
Rates °k Dates Date Date And Issued Retired OWstanding
State Aid Street Bonds
G.O. State-Aid Street Bonds 4.7-6.65 4-01 10-01 09-01-91 04-01-06 33,000,000 3705,000 a2,295,000
Total 33,000,000 $705,000 a2,295,000
Special Assessment Bonds
1987 Refunding Bonds 4.7-5.5 2-01 8-01 04-01-87 02-01-97 a1,200,000 $1,160,000 $40,000
1994 Street Improvement Bonds 4.1-5.5 2-01 8-01 08-01-94 02-01-05 835,000 65,000 770,000
1995 Street Improvement Bonds 4.0-4.9 2-01 8-01 11-01-95 02-01-06 780,000 780,000
1996 Street Improvement Bonds 4.2-5.1 2-01 8-01 11-01-96 02-01-07 1,440,000 1,440,000
Total E4,255,000 31,225,000 $3,030,000
Revenue Bonds
1994 Storm Sewer Revenue Bonds 4.2-5.4 2-01 8-01 08-01-94 02-01-05 51,830,000 $110,000 $1,720,000
Total 31,830,000 3110,000 31,720,000
Tax Increment Bonds
1991 G.O. Tax Increment Bonds 4.7-6.0 2-01 8-01 03-01-91 02-01-04 $6,050,000 51,675,000 a4,375,000
1992 G.O. Refunding Tax Incr Bonds 4.5-5.6 2-01 8-01 02-01-92 02-01-03 4,270,000 4,270,000
1995 Taxable G.O. Tax Increment Bonds 6.0-6.75 2-01 8-01 11-01-95 02-01-11 4,560,000 4,560,000
Total 314,880,000 $1,675,000 313,205,000
In 1992, the City issued the $4, 270, 000 G�neral Obligation Tax
Increment Refunding Bonds, Series 1992A with a net interest
rate of 5.3�. The proceeds of the refunding issue, net of
issuance costs, and additional monies, were placed in an
irrevocable escrow account and used to purchase U.S.
Government securities. Until the final crossover date in
1996, the refunded and refunding debt was reported in the
financial statements. In 1996, the escrow account investments
were used to repay refunded crossover principal of $4,180,000.
The refunding resulted in cumulative savings to the City of
$430,748 with a net present value savings of $295,046.
-37-
Note 7: Segment information as of and for the year ended December 31, 1996 was as follows:
E. Brown
Enterprise Funds: Municipal Golf Heritage Recycling Water Sanitary Storm
Liquor Course Center 8 Refuse Utility Sewer Drainage
Fund Fund Fund Fund Fund Fund Fund Total
Operating Revenues $2,850,307 $327,642 $2,664,676 $211,468 $1,145,040 $2,182,455 $822,980 $10,204,568
Depreciation Expense 22,745 16,098 333,384 230,236 127,040 41,756 771,259
Operating Income (Loss) 167,957 70,420 (123,421) (8,104) 155,633 151,433 576,255 990,173
Operating Transfers (Out) (100,000) (100,000)
Net Income (Loss) 69,840 12,909 (159,400) (3,002) 436,997 317,440 536,499 1,211,283
Current Capital Contributions 354,085 354,085
Property, Plant Equipment:
Additions 9,117 9,260 1,125,585 1,697,605 1,588,620 4,430,187
o Deletions 2,240 142,003 2,146 146,389
Net Worlcing Capital 247,618 12,149 (116,536) 105,304 4,694,317 2,260,859 204,475 7,408,186
Total Assets 670,864 1,706,354 10,069,759 106,138 14,568,619 10,739,533 4,965,128 42,826,395
Bonds and OtherLong-Term
Liabilities Payable from
Operating Revenues 84,384 1,150,000 1,565,000 2,799,384
Total Equity $486,089 $550,586 $9,257,507 $105,304 $14,531,094 $10,587,660 $2,968,312 $38,486,552
Note 8: Interfund Receivables and Pavables
Due from other funds and due to other funds are short-term
receivables/payables which have interest rates of 0� to 7�.
Advances to other funds and advances from other funds are consdered
long-term receivables/payables. Advances have interest rates of 0�
to 8.5� with maturities extending through the year 2011. Advances
between funds are offset by a fund balance reserve account and are
not expendable available financial resources.
Due From Due to
Other Funds Other Funds
General Fund 873,932
Special Revenue Funds:
E.B. Farm Tax Increment Fin. Fund 170,125
Comm. Development Block Grant Fund 180,761
Economic Development Authority Fund 776,058
Debt Service Funds:
Tax Increment Bonds of 1991 Fund 69,022
Tax Increment Bonds of 1992 Fund 68,982
Tax Increment Bonds of 1995 Fund 29,027
Refunding Bonds of 1987 Fund 36,588
Capital Projects Funds:
Capital Improvements Fund 518,774
M.S.A. Construction Fund 293,317
Special Assessments Constr. Fund 1,552,809
Enterprise Funds:
Earle Brown Heritage Center Fund 585,000
Storm Drainage Fund 177,005
Total $2,665,700 $2,665,700
Advances to Advances from
Other Funds Other Funds
General Fund 105,074
Special Revenue Funds:
E.B. Farm Tax Increment Fin. Fund 698,143
Capital Projects Funds:
Capital Improvements Fund 1,261,270
M.S.A. Construction Fund 593,069
Enterprise Funds:
Municipal Liquor Fund 111,270
Golf Cc�urse Fund 1,150,000
Total $1,959,413 $1,959,413
r
Note 9: Individual Fund Disclosures
Deficit fund balances exist in the followinq funds: �j
Special Revenue Funds:
Earle Brown Tax Increment Financing District:
Unreserved deficit fund balance $843,222
This deficit is being funded through internal borrowing and
will be repaid from future surplus tax increments.
Capital Projects Funds:
Special Assessment Construction:
Unreserved deficit fund balance $784,216
This deficit is being funded through internal borrowing and
will be repaid from the collection of special assessments
already levied.
Enterprise Funds:
Golf Course:
Unreserved deficit retained earnings $86,300
These deficits are being funded through internal borrowin
9
It is expected that future profits will cover the deficits.
Note 10: Continaencies
There are several lawsuits pending in which the City is
involved. City Management estimates that the potential claims
against the City not covered by insurance resulting from such
litigation would not materially affect the financial
statements of the City.
Note 11: Risk Manactement
The City is exposed to various risks of loss related to torts;
theft of, damage to and destruction of assets; errors and
omissions and natural disasters for which the City carries
commercial insurance policies. The City retains risk for the
deductible portions of the insurance policies. The amount of
these deductibles are considered immaterial to the financial
statements.
There were no si�nificant reductions in insurance from the
previous year or settlements in excess of insurance coverage
for any of the past three years. However, the City did
increase the deductible portion of the insurance policies and
the amount of this increase is considered immaterial to the
financial statements.
40
Note 12: Deferred Compensation Plan
The City offers its employees a deferred compensation plan
created in accordance with Internal Revenue Code Section 457.
The plan, available to all City employees, permits them to
defer a portion of their salary until future years. The
deferred compensation is not available to employees until
termination, retirement, death, or unforeseeable emergency.
All amounts of compensation deferred under the plan, all
property and rights purchased with those amounts, and all
income attributable to those amounts, property, or rights are
(until paid or made available to the employee or other
beneficiary) solely the property and rights of the City
(without being restricted to the provisions of benefits under
the plan), subject only to the claims of the City's general
creditors. Participants' rights under the plan are equal to
those of general creditors of the City in an amount equal to
the fair market value of the deferred account for each
participant.
It is the opinion of the City's legal counsel that the City
has no liability for losses under the plan but does have the
duty of due care that would be required of an ordinary prudent
investor. The City believes it is unlikely that it will use
the assets to satisfy the claims of general creditors in the
future.
The City is reporting the activity of this plan as an agency
fund and carries its investment at market value.
Note 13: Post-Emblovment Health Care Benefits
The City provides post-retirement health care benefits, as per
the requirements of a City Council resolution, for certain
retirees and their dependents. Full time employees have the
option of retaining membership in the City's health insurance
plan for which the City will pay the single person premium
until such time as the retiree is eligible for Medicare
coverage or at age 65, whichever is sooner. If the retiree
desires to continue family coverage, the additional cost for
family coverage shall be paid by the retiree to the City. In
lieu of the City payment of the single person premium, the
qualified employee may elect to receive a lump sum payment
calculated by multiplying the number of months between the
date on which the employee retires and the employees 65th
birthday times the manthly average single person premium. To
qualify under this program, the employee, on the date of
his/her retirement, must meet eligibility requirements for a
full retirement annuity under PERA (Note 14A) without
reduction of benefits because of age, disability, or any other
reason for reduction. In addition, the employee must have
been employed full time by the City for the last ten
41
Note 13: Post-Emnlovment Health Care Benefits (continued)
consecutive years prior to the effective date of retirement.
Employees participate in this program on a voluntary basis.
As of December 31, 1996, seven employees currently participate
in this program. The cost of City paid health care premiums
for the years ended December 31, 1996 and 1995 was $17, 294 and
$18,317, respectively.
In addition, the expenditures in 1996 and 1995 were increased
by $60,839 and $781,205, respectively, to account for the
change in the accrued health insurance liability. In 1995,
the City refined the estimate of the liability for the cost of
employees who will be eligible for this program. The program
was originally enacted in 1986 as an experimental program with
a five year sunset provision. The original method of
estimating the liability reflected this temporary five year
program life span. Repeated extensions of the program have
been approved to the point where it can no longer be viewed as
temporary or experimental. The 1995 refinement of the
liability estimate reflects the current status of the program.
Note 14: Pension Plans:
Public Emt�lovees Retirement Association (PERA)
City employees participate in the pension plans administered
by the Public Employees Retirement Association (PERA). In
accordance with Government Accounting Standards Board
Statement No. 5, the PERA plans are classified as a defined
benefit multiple employer cost sharing plans.
Disclosures relating to this plan are as follows:
A. Plan DescriAtion
All full-time and certain part-time employees of the City of
Brooklyn Center are covered by defined benefit pension plans
administered by the Public Employees Retirement Association of
Minnesota (PERA). PERA administers the Public Employees
Retirement Fund (PERF) and the Public Employees Police and
Fire Fund (PEPFF) which are cost sharing multiple employer
retirement plans. These plans are established and
administered in accordance with Minnesota Statutes, Chapters
353 and 356.
PERF members belong to either the Coordinated Plan or the
Basic Plan. Coordinated Plan mem�ers are covered by 5ocial
Security and Basic members are not. All new members must
participate in the Coordinated Plan. All police officers,
fire fighters and peace officers who qualify for membership by
statute are covered by the PEPFF. The payroll for employees
covered by PERF and PEPFF for the year ended December 31, 1996
-42-
Note 14: Pension Plans (continued)
A. Plan Descrintion (continued)
was $4,666,466 and $2,177,516 respectively; the City's total
payroll was $7,837,640.
PERA provides retirement benefits as well as disability
benefits to members, and benefits to survivors upon death of
eligible members. Benefits are established by State Statute,
and vest after three years of credited service. The defined
retirement benefits are based on member's average salary for
any five successive years of allowable service, age, and years
of credit at termination of service. Two methods are used to
compute benefits for Coordinated and Basic members. The
retiring member receives the higher of step rate benefit
accrual formula (Method 1) or a level accrual formula (Method
2). Under Method 1, the annuity accrual rate for a Basic
member is 2 percent of average salary for each of the first 10
years of service and 2.5 percent for each remaining year. For
a Coordinated member, the annuity accrual rate is 1 percent
of average salary for each of the first 10 years and 1.5
percent for each remaining year. Using Method 2, the annuity
accrual rate is 2.5 percent of average salary for Basic
members and 1.5 percent for Coordinated members. For PEPFF
members, the annuity accrual rate is 2.65 percent for each
year of service. For PERF members whose annuity is calculated
using Method 1, and for all PEPFF members, a full annuity is
available when age plus years of service equal 90. A reduced
annuity is also available to eligible members seeking early
retirement.
There are different types of annuities available to members
upon retirement. A normal annuity is a lifetime annuity that
ceases upon the death of the retiree. No survivor annuity is
payable. There are also various types of joint and survivor
annuity options available which will reduce the monthly normal
annuity amount, because the annuity is payable over joint
lives. Members may also leave their contributions in the fund
upon termination of public service, in order to qualify for a
deferred annuity at retirement age. Refunds of contributions
are available at any time to members who leave public service,
but before retirement benefits begin.
The benefit provisions stated in the previous paragraphs of
this section are current provisions and apply to active plan
participants. Vested, terminated employees who are entitled
benefits but are not receiving them yet, are bound by the
provisions in effect at the time thel� last terminated their
public service.
B. Contributions Reauired and Contributions Made
Minnesota Statutes Chapter 353 sets the rate for employer and
-43-
Note 14: Pension Plans (continued)
B. Contributions Required and Contributions Made (continuedl
employee contributions. The City makes annual contributions
to the pension plans equal to the amount required by state
statutes. According to Minnesota Statutes Chapter 356.215,
Subd. 4(g) the date of full funding required for the PERF and
the PEPFF is July 1, 2020. As part of the annual actuarial
valuation, PERA's actuary determines the sufficiency of the
statutory contribution rates towards meeting the required full
funding deadline. The actuary compares the actual
contribution rate to a"required" contribution rate. The
required contribution rate consists of (a) normal costs based
on entry age normal cost methods, (b) a supplemental
contribution for amortizing any unfunded actuarial accrued
liability by the date required for full funding, and (c) an
allowance for administrative expenses. Current combined
statutory contribution rates and actuarially required
contribution rates for the plans are as follows:
Statutorv Rates Reauired
�loyee �loyer Rates*
Public Employees
Retirement Fund:
Basic Plan and
Coordinated Plan 4.30� 4.60� 9.60�
Police Fire Fund 7.60� 11.40� 19.00�
The recommended rates scheduled above represent the required
rates for fiscal year 1996 contributions as reported in the
July 1, 1995, actuarial valuation reports.
Total contributions made by the City during fiscal year 1996
were:
Percentacte of
Contribution Covered Pavroll
�lovees �lover �lovees Emplover
Public Employees
Retirement Fund:
Basic Plan 3,726 4,858 8.23� 10.73�
Coordinated
Plan 197,434 210,118 4.23$ 4.48�
Police Fire
Fund _165,492 _248,237 7.60� 11.40�
TOTALS $366,652 $463,213
The City's contribution for the year ended June 30, 1996, to
the PERF, represented approximately .17� of total
contributions required of all participating entities. For
-44-
Note 14: Pension Plans (continued)
B. Contributions Reauired and Contributions Made (continued)
PEPFF, contributions for the year ended June 30, 1996,
represented .69� of total contributions required of all
participating entities.
C. Fundina Status and Proqress
1. Pension Benefit Obligation
The "pension benefit obligation" is a standardized disclosure
measure of the present value of pension benefits, adjusted for
the effects of projected salary increases and step-rate
benef its, estimated to be payable in the future as a result of
employee service to date. The measure which is the actuarial
present value of credited projected benefits, is intended to
help users assess PERA's funding status on a going-concern
basis, assess progress made in accumulating sufficient assets
to pay benefits when due, and make comparisons among Public
Employees Retirement Systems and participating employers. The
measure is independent of the actuarial funding method used to
determine required contributions, which is discussed in Note
B. PERA does not make separate measurements of assets and
pension benefit obligation for individual employers.
The pension benefit obligations as of June 30, 1996
are shown below (in millions):
PERF PEPFF
Total pension benefit obligation $6,609 $1,243
Net assets available for benefits,
at cost (market value for
PERF $5,955; PEPFF $1,714) $5,702 $1,593
Unfunded (assets in excess of)
pension benefit obligation 907 (350)
The pension benefit obligation was determined as part of an
actuarial valuation at July 1, 1996.
For the PERF, significant actuarial assumptions used in the
calculation of the pension benefit obligation include (a) a
rate of return on the investment of present and future assets
of 8.5 percent per year, compounded annually, pr�ior to
retirement, and 5 percent per year, compounded annually,
following retirement; (b) projected salary increases taken
from an age table which incorporates a 5 percent base
inflation assumption; (c) payroll growth at 6 percent per
year, consisting of 5 percent inflation and one percent due to
-45-
Note 14: Pension Plans (continued)
C. Fundina Status and Proqress (continued)
growth in group size; (d) post-retirement benefit increases
that are accounted for by the 5 percent rate of return
assumption following retirement; and (e) mortality rates based
on the 1983 Group Annuity Mortality Table set forward one year
for retired members and set back five years for each active
member.
Actuarial assumptions used in the calculation of the PEPFF
include (a) a rate of return on the investment of present and
future assets of 8.5 percent per year, compounded annually,
prior to retirement, and 5 percent per year, compounded
annually, following retirement, (b) projected salary increases
of 6.5 percent per year, compounded annually, attributable to
the effects of inflation; (c) post-retirement increases that
are accounted for by the 5 percent rate of return assumption
following retirement; and (d) mortality rates based on the
1971 Group Annuity Mortality Table projected to 1984 for males
and females.
2. Changes in Actuarial Assumptions and Methods
Since the July 1, 1995 actuarial valuation, there were no
changes in actuarial assumptions for the PERF and the PEPFF
which impacted funding costs.
Potential changes in the actuarial assumptions used for the
PEPFF inay be made in the future. Results of an experience
study for the fund during the four-year period ending June 30,
1994, disclosed (a) retirees are living longer; (b) the
expected active member death rate is declining; (c) the trend
towards earlier retirement continues; and (d) the pattern of
salary increases varies substantially by ages, with a strong
merit and seniority component at the younger ages. Based on
these results, PERA will soon consider revising the actuarial
assumptions for retirement age, mortality, payroll growth, and
individual salary increases. These changes, if adopted within
fiscal year 1997, will significantly impact the July 1, 1997
actuarial valuation of the PEPFF.
3. Changes in Actuarial Assumptions
The 1996 legislative session did not include any benefit
improvements which would impact funding costs for the PERF and
the PEPFF.
D. Ten-Year Historical Trend Information
Ten-year historical trend information is presented in PERA's
Comprehensive Annual Financial Report for the year ended June
30, 1996. This information is useful in assessing the pension
-46-
Note 14: Pension Plans (continued)
D. Ten-Year Historical Trend Information (continued)
plan's accumulation of sufficient assets to pay pension
benefits as they become due.
E. Related Partv Investments
As of June 30, 1996 and for the fiscal year then ended, PERA
held no securities issued by the City or other related
parties.
Note 15: Pension Plan Brooklvn Center
Fire Denartment Relief Association
A. Plan Descri�tion
The City contributes to the Brooklyn Center Fire Department
Relief Association (Association). In accordance with
Government Accounting Standards Board Statement No. 5, it is
classified as a defined benefit single employer public
employee retirement system.
Volunteer fire fiqhters of the City are members of the
Association and its pension plan. An actuarial study was
completed during 1993 which developed a schedule of benefit
increases which will take effect on January 1 of each year.
The plan's baseline benefit after 20 years of service and
attaining the age 50 increases to $490 per month in 1994, $510
per month in 1995, and $530 per month in 1996. There are
additional benefits for service through 30 years. Vesting
begins with 10 years of service and benef its are pro-rated for
members who have between 10 and 20 years of service. Members
may choose to take a lump sum settlement instead of the
pension, equal to $3,500 in 1994, $3,750 in 1995, and $4,000
in 1996, times the number of years of service, with a maximum
of 30 years. Spouse's, children's and funeral benefits are
also provided. These benefit provisions and all other
requirements are consistent with enabling state statutes.
The City levies property taxes at the direction of and for the
benefit of the association plan and passes through state aids
allocated to the plan, all in accordance with enabling state
statutes.
B. Fundina Status and Procrress
The amount shown below as the "pension benefit obligation" is
a standardized disclosure measure of the present value of
pension benefits, adjusted for the effects of projected
benefit increases, estimated to be payable in the future as a
result of service to date. The measure is the actuarial
47
Note 15: Pension Plan (continued)
B. Fundinq Status and Proaress (continued)
present value of credited projected benefits and is intended
to help users assess the funding status of the association
plans on a going-concern basis, assess progress made in
accumulating sufficient assets to pay benefits when due, and
make comparisons among plans. It is independent of the
actuarial funding method used to determine contributions to
the plan, discussed in "C" below.
The pension benefit obligation was determined as part of an
actuarial valuation at January 1, 1993 and updated as of
January 1, 1997. Significant actuarial assumptions used
include (a) a rate of return on the investment of present and
future assets of 5 percent per year compounded annually, and
(b) no post-retirement benefit increases.
An actuarial update to the pension obligation is performed
annually. On December 31, 1996, the overfunded pension
benefit obligation was as follows:
Pension benefit obligation:
Retirees and beneficiaries currently
receiving benefits and terminated
employees not yet receiving benefits $1,211,267
Current Employees
Employer-financed vested 999,561
Employer-financed non-vested 158.217
Total pension benefit obligation 2,369,045
Net assets available for benefits
(at carrying value, equals market) 2 668,001
Overfunded pension benefit obligation (298,956)
The ension benefit obli ation decreased Y� $346 165 because
P g Y
the payment of lump sum distributions and the death of three
beneficiaries offset the additional year of service credited
to plan members.
C. Contributions Reauired and Contributions Made
Financial requirements of the association plan are determined
on an actuarial basis using the entry age normal actuarial
cost method. Normal cost is funded on a current basis.
Contributions at the level speci�ied by the last full
actuarial study will continue to be made until a new study
revises the contribution level. The minimum tax levy
-48-
Note 15: Pension Plan (continued)
C. Contributions Rectuired and Contributions Made (continued)
obligation is the financial requirement for the year less
anticipated state aids. The funding strategy for normal cost
should provide sufficient resources to pay plan benefits on a
timely basis.
Total contributions to the plan in 1996 amounted to $127,564,
of which $39,292 was levied by the City of Brooklyn Center and
$88,272 was from the State of Minnesota. The contributed
amounts were actuarially determined as described above and
were based on an actuarial valuation as of January 1, 1993.
The contributions represent funding for normal cost of $68,698
and the amortization of the overfunded actuarial accrued
liability of $26,241.
Significant actuarial assumptions used to compute pension
contribution requirements are substantially the same as those
used to determine the standardized measure of the pension
obligation. The computation of the pension contribution
requirements for 1996 was based on the same actuarial
assumptions, benefit provision, actuarial funding method, and
other significant factors used to determine pension
contribution requirements in previous years with the exception
of the change noted in Section B above.
D. Trend Information
Trend information gives an indication of the progress made in
accumulating sufficient assets to pay benefits when due. Ten
year trend information may be found in the Association's
annual financial report for the year ended December 31, 1996.
Three year trend information for the Association is as
follows:
1996 1995 1994
Available assets as a
percentage of benefit
obligation 112� 101� 96�
1 City's contribution**
as a percentage of *not *not *not
covered payroll applicable applicable applicable
*The Brooklyn Center Fire Department is a volunteer
organization; thus, no covered payroll exists.
**The City's contribution was made in accordance with
actuarially determined requirements.
-49-
Note 15: Pension Plan (continued)
E. Related Partv Investments
As of December 31, 1996, the Association held no securities
issued by the City or other related parties.
Note 16: Fund Chanaes
The following funds were opened during 1996.
Special Revenue:
Tax Increment District No. 3
Debt Service:
Street Improvement Bonds of 1996
The following funds were closed during 1996:
Special Revenue:
Diseased Tree Removal
Debt Service:
Tax Increment Bonds of 1985
The following funds were reclassified to different fund types
during 1996:
From Capital Projects Funds to Special Revenue Funds:
Housing and Redevelopment Authority Fund
Economic Development Authority Fund
-50-
City of Brooklyn Center, Minnesota
GENERAL FUND
The City of Brooklyn Center Home Rule Charter provides in Section
7.11 that "there shall be maintained in the City Treasury a
classification of Funds which shall provide for a General Fund for
the payment of such expenses of the City as the Council may deem
proper, and such other funds as may be required by statute,
ordinance or resolution."
The General Fund was established to account for all revenues and
expenditures which are not required to be accounted for in other
funds. It has more diverse revenue sources than other funds.
These revenue sources include property taxes, licenses, permits,
fines and forfeits, intergovernmental, service charges, rents, and
investment earnings. The Fund's resources finance a wide range of
functions, including the current operations of general government,
public safety, public works, health and welfare, recreation, and
non-departmental expenditures.
This fund utilizes the modified accrual basis of accounting.
Revenues are recognized in the accounting period in which they
become available and measurable. Expenditures are recogni2ed in
the accounting period in which the related liability is incurred.
51
City of Brooklyn Center A-1
General Fund
COMPARATIVE BALANCE SHEET
December 31, 1996
1996 1995
ASSETS
Cash and cash equivalents $3,589,889 $1,525,999
Investments 5,484,065 6,358,348
Accounts receivable 163,658 41,955
Delinquent taxes receivable 204,432 282,251
Due from other funds 873,932 862,831
Due from other governments 37,818 18,399
Advance to other funds 105,074 105,074
TOTAL ASSETS $10,458,868 $9,194,857
LIABILITIES AND FUND BALANCE
Liabilities
Accounts payable $387,303 $270,614
Securities lending agreement 1,841,455 1,583,783
Due to other govemments 17,785
Accrued salaries payable 195,508 134,652
Accrued vacation and sick pay 594,728 563,171
Deferred revenue 917,376 790,060
Total Liabilities 3,936,370 3,360,065
Fund Balance
Reserved for advances to other funds 105,074 105,074
Unreserved fund balance
Designated:
Working capital 5,620,352 5,276,757
Appropriated to next budget 44,718 109,750
Undesignated: 752,354 343,211
Total Fund Balance 6,522,498 5,834,792
TOTAI. LIABILITIES AND FUND BALANCE $10,458,868 $9,194,857
-52-
j City of Brooklyn Center A
General Fund
COMPARATIVE STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL
For the Year Ended December 31, 1996
1996
Actual Uver
or Under(-) 1995
Budget Actual Budget Actual
Revenues
Property taxes $6,355,958 $6,120,877 ($235,081) $5,946,363
Licenses and permits 348,850 402,000 53,150 318,202
Intergovernmental 3,540,018 3,618,075 78,057 3,543,009
Charges for seivices 886,068 839,583 (46,485) 822,530
Court fines 144,000 186,761 42,761 178,263
Investment earnings 250,000 312,831 62,831 256,304
Miscellaneous 13,833 15,919 2,086 15,205
Totai Revenues 11,538,727 11,496,046 (42,681) 11,079,876
Exnenditures
General govemment 1,873,246 1,736,334 (136,912) 1,831,045
Public safety 5,162,530 5,022,324 (140,206) 4,598,618
Public warks 1,545,021 1,270,438 (274,583j 1,363,244
Community services 79,047 78,442 (605 41,146
Parks and recreation 2,502,915 2,282,054 (220,861) 2,226,121
Economic development 228,000 201,600 (26,400) 209,576
Non-departmental 337,371 317,148 (20,223) 289,747
Total Expenditures 11,728,130 10,908,340 (819,790) 10,559,497
Excess or Deficiency of
Revenues Over Expenditures (189,403) 587,706 777,109 520,379
Other Financinq Sources
Operating transfers in 100,000 100,000 0 100,000
Total Other Financing
Sources 100,000 100,000 0 100,000
Excess or Deficiency of
Revenues and Other Financing
Sources Over Expenditures (89,403) 687,706 777,109 620,379
Fund Baiance January 1 5,834,792 5,834,792 0 5,214,413
Fund Balance December 31 $5,745,389 $6,522,498 $777,109 $5,834,792
53
S-1
City of Brookiyn Center (Continued next page)
Generai Fund
SCHEDULE OF REVENUES AND OTHER FINANCING SOURCES
BUDGET AND ACTUAL
For the Year Ended December 31, 1996
1996
Actual Over
or Under(-) 1995
Budget Actual Budget Actual
Ad Valorem Taxes
Property taxes $5,873,958 $5,712,580 ($161,378) $5,508,843
Penalties and interest (17,357) (17,357) (4,698)
Lodging tax 480,000 424,419 (55,581) 441,159
Special assessments 2,000 1,235 (765) 1,059
Total Ad Valorem Taxes 6,355,958 6,120,877 (235,081) 5,946,363
Licenses and Permits
Liquor and beer 134,500 120,665 (13,835) 105,550
Building permits 128,000 181,706 53,706 109,007
Mechanical permits 28,000 29,275 1,275 41,149
Sewer and water permits 1,000 1,497 497 141
Plumbing permits 13,200 17,211 4,011 21,826
Garbage licenses 2,000 2,300 300 2,245
Taxicab licenses 400 800 400 450
Mechanicallicenses 4,000 4,010 10 3,978
Service station licenses 1,700 1,925 225 1,365
Vehicle dealer licenses 950 900 (50) 968
Bowling licenses 700 808 108 908
Cigarette licenses 1,100 1,125 25 850
Sign permits 2,400 2,790 390 2,081
Rental dwelling permits 17,000 21,107 4,107 11,988
Amusement licenses 8,000 7,990 (10) 8,302
Dog licenses 4,800 5,841 1,041 4,713
Miscellaneous business license 1,100 2,050 950 2,681
Total Licenses and Permits 348,850 402,000 53,150 318,202
Interqovernmental
Federal grants:
Miscellaneous grants 7,500 6,000 (1,500) 5,716
Total Federal Grants 7,500 6,000 (1,500) 5,716
State grants:
Local government aid 1,864,946 1,865,664 718 1,799,076
Homestead credit aid 1,272,972 1,272,972 0 1,336,593
Police pension aid 216,000 242,013 26,013 220,630
Fireperson pension aid 66,800 88,272 21,472 69,299
Police training 11,500 13,865 2,365 10,712
Street maintenance aid 90,000 90,000 0 90,000
Miscellaneous grants 10,300 39,289 28,989 10,983
Total State Grants 3,532,518 3,612,075 79,557 3,537,293
Total Intergovernmental Rev. $3,540,018 $3,618,075 $78,057 $3,543,009
54
S-1
City of Brooklyn Center (Continued from
General Fund prior page)
SCHEDULE OF REVENUES AND OTHER FINANCING SOURCES
BUDGET AND ACTUAL
For the Year Ended December 31, 1996
1996
Actual Over
or Under(-) 1995
Budget Actual Budget Actuai
Charaes for Services
General government charges $30,650 $26,589 ($4,061) $22,075
Public safety charges 19,980 23,399 3,419 31,806
Recreation fees 835,438 789,595 (45,843) 768,649
Total Charges for Services 886,068 839,583 (46,485) 822,530
Court Fines
Fines 144, 000 186, 761 42, 761 178, 263
Total Court Fines 144,000 186,761 42,761 178,263
Miscellaneous
Interest on investments 250,000 312,831 62,831 256,304
Forfeited drug money 8,444 8,444 3,597
Other 13,833 7,475 (6,358) 11,608
Total Miscellaneous 263,833 328,750 64,917 271,509
Total Revenues 11,538,727 11,496,046 (42,681) 11,079,876
Other Financina Sources
Operating transfers in:
Liquor Fund 100,000 100,000 0 100,000
Total Revenues and Other Sources $11,638,727 $11,596,046 ($42,681) $11,179,876
-55-
City of 8rookfyn Center 3_2
General Fund
SCHEDULE OF EXPENDITURES BUDGET AND ACTUAL (Continued
For the Year Ended December 31, 1996 next page)
1996
Actual Over
or Under(-) 1995
Budget Actual Budget Actual
General Government
Mayor and Council:
Personal services $33,653 $33,309 ($344) $32,307
Services and other charges 73,747 41,965 (31,782) 71,437
Total Mayor and Council 107,400 75,274 (32,126) 103,744
Charter Commission:
Services and other charges 2,000 1,681 (319) 2,634
Total Charter Commission 2,000 1,681 (319) 2,634
Administrative Office:
Personal services 326,980 332,215 5,235 375,603
Supplies 1,000 1,787 787 1,145
Services and other charges 59,547 49,746 (9,801) 67,228
Capital outiay 0 7,910
Charged to other funds (23,350) (23,350) 0 (27,725)
Total Administrative Office 364,177 360,398 (3,779) 424,161
Elections and Voter Registration:
Personal services 46,898 47,162 264 18,417
Supplies 3,135 2,309 (826)
Services and other charges 8,975 6,208 (2,76'n 3,321
Total Elections and Voter Registration 59,008 55,679 (3,329) 21,738
Assessor's Office:
Personal services 201,035 189,202 (11,833) 184,267
Supplies 3,000 1,892 (1,108) 1,422
Services and other charges 10,812 8,663 (2,149) 9,705
Capital outlay 0
Total Assessor's Office 214,847 199,757 (15,090) 195,394
Finance:
Personal services 376,574 359,500 (17,074) 3&4,287
Supplies 3,000 1,320 (1,680) 2,987
Services and other charges 1,840 1,424 (416) 1,728
Charged to other funds (198,736) (198,736) 0 (197,394)
Total Finance $182,678 $163,508 ($19,170) $171,608
56
City of Brooklyn Center S_2
General Fund
SCHEDULE OF EXPENDITURES BUDGET AND ACTUAL (Continued
For the Year Ended December 31, 1996 next page)
1996
Actual Over
or Under(-) 1995
Budget Actual Budget Actual
General Government (continuedl
Independent Audit:
Services and other charges $18,900 $18,620 ($280) $18,130
Total Independent Audit 18,900 18,620 (280) 18,130
Legal:
Services and other charges 199,700 185,273 (14,427) 183,725
Total Legal 199,700 185,273 (14,42� 183,725
Government Buildings:
Personal se►vices 154,835 154,105 (730) 127,063
Supplies 22,250 26,585 4,335 26,908
Senrices and other charges 186,203 183,826 (2,37� 187,548
Capital outlay 6,900 5,310 (1,590) 16,491
Total Government Buildings 370,188 369,826 (362) 358,010
Data Processing:
Personal services 61,436 32,454 (28,982) 51,933
Supplies 9,500 7,023 (2,47� 4,057
Services and other cha�ges 225,217 212,296 (12,921) 214,672
Capital outlay 68,555 64,905 (3,650) 95,053
Charged to other funds (10,360) (10,360) 0 (13,814)
Total Data Processing 354,348 306,318 (48,030) 351,901
Total General Govemment 1,873,246 1,736,334 (136,912) 1,831,045
Public Safetv
Police Protection:
Personal services 3,349,619 3,238,629 (110,990) 3,006,488
Supplies 72,382 60,920 (11,462) 62,579
Services and other charges 591,176 593,265 2,089 645,423
Capital outlay 128,345 125,681 (2,664) 77,327
Total Police Protection 4,141,522 4,018,495 (123,02� 3,791,817
Fire Protection:
Personal services 323,488 319,809 (3,679) 286,701
Supplies 33,178 31,258 (1,920) 41,052
Se�vices and other charges 285,277 283,790 (1,487) 148,447
Capital outlay 27,733 28,557 824 17,722
Total Fire Protection $669,676 $663,414 ($6,262) $493,922
5 7
City of Brooklyn Center S_2
General Fund
SCHEDULE OF EXPENDITURES BUDGET AND ACTUAL (Continued
For the Year Ended December 31, 1996 next page)
1996
Actual Over
or Under(-) 1995
Budget Actual Budget Actual
Public Safetv (continued)
Protective Uspection:
Personal services $267,693 $263,185 ($4,508) $252,158
Supplies 3,600 1,080 (2,520) 1,093
Seivices and other charges 41,247 37,876 (3,371) 26,906
Capital outlay 0 764
Total Protective Inspection 312,540 302,141 (10,399) 280,921
Emergency Preparedness:
Personal services 27,093 28,029 936 23,853
Supplies 1,500 688 (812) 1,169
Services and other charges 7,299 6,812 (48� 6,936
Capital outlay 2,900 2,745 (155)
Total Emergency Preparedness 38,792 38,274 (518) 31,958
Total Public Safety 5,162,530 5,022,324 (140,206) 4,598,618
Public Works
Engineering Department:
Personal services 578,249 375,390 (202,859) 357,791
Suppties 7,930 4,338 (3,592) 7,293
Services and other charges 22,238 24,010 1,772 28,765
CapitalOutlay 16,000 10,554 (5,446) 3,924
Charged to other funds (261,677) (279,088) (17,411) (190,114)
Total Engineering Dept. 362,740 135,204 (227,536) 207,659
Street Department:
Personal services 447,138 456,169 9,031 448,530
Supplies 158,700 153,833 (4,86� 141,885
Services and other charges 653,443 606,7$5 (46,658) 660,374
Capital outlay 23,000 18,447 (4,553) 4,796
Charged to other funds (100,000) (100,000) 0 (100,000)
Total Street Dept. 1,182,281 1,135,234 (47,04n 1,155,585
Total Public Works 1,545,021 1,270,438 (274,583) 1,363,244
Communitv Services
Social Services
Service and other charges 79,047 78,442 (605) 41,946
Total Social Services 79,047 78,442 (605) 41,146
Total Community Services $79,047 $78,442 ($605) $41,146
-58-
City of Brookiyn Center S
General Fund
SCHEDULE OF EXPENDITURES BUDGET AND ACTUAL (Continued
For the Year Ended December 31, 1996 next page)
1996
Actual Over
or Under(-) 1995
Budget Actual Budget Actual
Parks and Recreation
Adult Programs:
Personal services $251,172 $236,047 ($15,125) $241,181
Supplies 40,933 36,070 (4,863) 41,552
Services and other charges 167,321 148,855 (18,466) 157,082
Total Adult Programs 459,426 420,972 (38,454) 439,815
Teen Programs:
Personal services 17,299 14,648 (2,651) 13,595
Supplies 600 1,346 746 1,061
Services and other charges 6,304 4,236 (2,068) 5,970
Total Teen Programs 24,203 20,230 (3,973) 20,626
Ghildren's Programs
Personal services 130,061 130,709 648 116,982
Supplies 13,081 10,179 (2,902) 12,543
Services and other charges 22,048 14,727 (7,321) 28,003
Total Children's Programs 165,190 155,615 (9,575) 157,528
General Programs:
Personal services 70,316 61,301 (9,015) 65,818
Supplies 590 96 (494) 722
Services and other charges 49,804 39,741 (10,063) 48,218
Total General Programs 120,710 101,138 (19,572) 114,758
Community Center:
Personal services 518,868 515,080 (3,788) 498,374
Supplies 77,208 87,558 10,350 87,561
Services and other charges 220,839 214,344 (6,495) 212,596
Capital outlay 5,000 3,913 (1,08n 11,494
Total Community Center 821,915 820,895 (1,020) 810,025
Park Maintenance:
Personal services 464,760 348,182 (116,578) 333,792
Supplies 62,850 46,246 (16,604) 52,732
Services and other charges 370,375 359,801 (10,574) 289,023
Capital outlay 13,486 8,975 (4,511) 7,822
Total Park Maintenance 911,471 763,204 (148,26'n 683,369
Total Parks and Recreation $2,502,915 $2,282,054 ($220,861) $2,226,121
-59-
City of Brooklyn Center g-2
Generai Fund
SCHEDULE OF EXPENDITURES BUDGET AND ACTUAL (Continued from
For the Year Ended December 31, 1996 prior page)
1996
Actual Over
or Under(-) 1995
Budget Actual Budget Actual
Economic Development
Convention Bureau:
Services and other charges $228,000 $201,600 ($26,400) $209,576
Total Economic Development 228,000 201,600 (26,400) 209,576
Nonde�artmental
Expenditures not Charged to
Departments:
Supplies 27,000 31,614 4,614 29,359
Services and other charges 307,371 284,146 (23,225) 260,388
Capital outlay 3,000 1,388 (1,612)
Total Nondepartmental 337,371 317,148 (20,223) 289,747
Total Expenditures $11,728,130 $10,908,340 ($819,790} $10,559,497
_60_ r
City of Brooklyn Center, Minnesota
SPECIAL REVENUE FUNDS
The Special Revenue Funds are established to account for revenues
derived from taxes and/or other specific revenue sources. These
resources are usually restricted by statute, City Charter or ordinance
to finance specific City functions or activities.
This fund type utilizes the modified accrual basis of accounting.
Revenues are recoqnized in the accounting period in which they become
available and measurable. Expenditures are recognized in the
accounting period in which the related liability is incurred.
Housina and Redevelopment Authoritv Fund (H.R.A.I: This fund has
authority to levy an ad valorem property tax for the purpose of
conducting housing and redevelopment projects. These projects are now
done in the E.D.A. Fund and all tax proceeds are transferred to that
fund.
Economic Develobment Authoritv Fux�d fE.D.A.): This fund was
established to account for the Economic Development Authority (E.D.A.)
of Brooklyn Center. The E.D.A. carries out activities which
previously were done by the H.R.A., plus it has authority to operate
an enterprise. The Earle Brown Heritage Center operates under this
authority and a statement of its operations can be found in the
enterprise fund section of this report. The E.D.A. also does
redevelopment and housing projects, funded by an ad valorem property
tax levy, and transfers from the C.D.B.G. and H.R.A. funds.
Earle Brown Farm Tax Increment Financinct District: This fund has the
authority to collect tax increments which are used for the historic
restoration of the Earle Brown Farm and for debt service payments of
bonds which also were issued for that purpose.
Tax Increment District No. 3: This fund has the authority to collect
tax increments which are used for various redevelopment projects
within the City and for debt service payments of bonds which also were
issued for that purpose.
Diseased Tree Removal Fund: This fund was established to account for
the collection of resources and expenditure of these resources for
diseased tree control. Costs are reimbursed by private property
owners, or the General Fund, depending upon where the tree was
located.
Communitv Develooment Block Grant Fund: The fund was established to
account for funds received under Title I of the Housing and Community
Development Act of 1974. Transfers are made from this fund to the
Economic Development Authority Fund where accounting for project costs
takes place.
61
B-1
City of Brooklyn Center
Special Revenue Funds
COMBINING BALANCE SHEET i
December 31, 1996
Economic Earle Brown Tax
Devebpment Tax Incr. increment Community
Authority Financing District Development Totals
Fund District No. 3 Block Grant 1996 1995
ASSETS
Cash and cash equivaleMs �2,451,526 �67,130 52,518,656 $988,579
Investments 3,666,628 100,403 3,767,031 5,156,686
r4ccounts receivable
Delinquent taxes receivable 9,532 9,532 12,158
Special assessments:
Deferred
12,691
Delinquent s�
Due from other funds 776,058 776,058 932,748
Due from other govemmerrts $25,046 6,454 a180,761 212,261 236,106
TOTAL ASSETS a6,903,744 a25,046 3173,987 $180,761 a7,283,538 a7,340,286
rn
N
LIABILITIES AND FUND BALANCES (DEFICITSI
Liabilities
Accourrts payable a11,865 a11,865 a5,723
Securities lending agreement 1,261,142 �34,534 1,295,676 1,026,823
Accrued salaries payable 3,979 3,979 2,767
Accrued vacation and sick pay 21,420
21,420 21,970
Due to other funds a170,125 a180,761 350,886 1,344,gg3
Advances from otherfunds 698�143 698,143 698,143
Deferred revenue 9,532 9,532 25,503
Total Liabilities 1,307,938 868,268 34,534 180,761 2,391,501 3,125,912
Fund Balances (Deficits�
Reserved:
Bond proceeds 2,896,472 2,896,472 3,477,619
Housing projects 20 918
20,918
Unreserved 2,699,334 (843,722) 118,535 0 1,974,647 736,755
Total Fund Balar�ces (Deficits) 5,595,806 (843,222) 139,453 0 4,892,037 4,214,374
TOTAL LIABILITIES AND
FUND BALANCES (DEFtCITS) �6,903,744 $25,046 a173,987 $180,761 57,283,538 a7,340,286
i
s-z
City of Brooklyn Center
Special Revenue Funds
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
For the Year Ended December 31, 1996
Housing
and Economic Earle Brown Tax
Redevelopment Development Tax Increment Increment Diseased Community
Authority Authority Financing Di��ct Tree Development Tota{s
Fund Fund Distrid No. 3 Removal Block Grant 1996 1995
Revenues
Propertytaxes s120,481 5172,334 s2,180.251 5137,600 s2.610,666 52,045,307
Spec'ral assessments s8.504 8,504 11,220
lnteryovemmenta4 17,345 s55,698 73.043 282,945
Charyes for services 3,742 3,742 6,264
Investmenteamirps 339,104 1,853 3,277 344,234 145,332
Miscellaneous 30,681 30,681 12.845
I
Total Revenues 137,826 542,119 2,180,251 139,453 15,523 55,698 3,070,870 2,503,913
�xpenditures
Personal services 163.480 163,480 161,950 �i
Supplies 102 102 643
Services and other charges 333,801 1,539 6,813 342,153 418,748
Capital outlay 608.875 608,875 500,186
Interest 34,914 34.914 78,354
ca
i Total Expendkures 1,106,258 36,453 6,813 1,149,524 1,159,882
Excess or Deficiency of Revenues
Over Expenditures 137,826 (564,139) 2,143,798 139,453 8,710 55,698 1,921,346 1,344,031
Other Financin4 Sourees or Usesl�
Proceeeds from sale ot bonds 4,045,280
Operatiny transters in 183,524 193,524 401,379
Operatinp transfers out (137.826) (1,180.000) (55,698) t1,373,524) (1.686,379)
Total Other Financinp Sources or Uses(-) (137.826) 193,524 (1,180.000) (55.698) (1,180.000) 2,760.280
E�ccess or Deficie�cy Revenues and Other
Financiny Sources Over Expend'Rures and
Other Financinp Uses 0 (370,615� 963,788 139.453 8,710 0 741,346 4,104.311
Fund Balance (Deficjts) January 1 0 5,866,421 (1,807,020) 0 54,973 0 4,214,374 110,063
Equity Transters In (Out) (q.B83)
Fund Balance (Deficits) December 31 SO 55.595.806 (s843.22� 5139.453 s0 s0 s4.892.037 54.214.374
City of Brooklyn Center B-3
Housing and Redevelopment Authority Fund
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCE BUDGET AND ACTUAL
For the Year Ended December 31, 1996
1996
Actual Over
or Under(-) 1995
Budget Actual Budget Actual
Revenues
Property taxes $119,636 $120,481 $845 $118,434
Intergovernmental 17,345 17,345 0 18,304
Total Revenues 136,981 137,826 845 136,738
Other Financinp Uses
Operating transfers out 136,981 137,826 845 136,738
Excess or Deficiency of
Revenues over Other Financing Use 0 0 0 0
Fund Balance January 1 0 0 0 0
Fund Balance December 31 $0 $0 $0 $0
-64-
City of Brooklyn Center B_4
Economic Development Authority Fund
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES 1N
FUND BALANCE BUDGET AND ACTUAL
For the Year Ended December 31, 1996
1996
Actual Over
or Under(-) 1995
Budget Actual Budget Actual
Revenues
Property taxes $171,903 $172,334 $431 $171,717
Investment Earnings 105,000 339,104 234,104 142,218
Miscellaneous 30,681 30,681 12,845
Total Revenues 276,903 542,119 265,216 326,780
Exnenditures
Personal Services 164,420 163,480 (940) 161,950
Suppiies 1,100 102 (998) 643
Services and other charges 400,222 333,801 (66,421) 360,338
CapitalOutlays 1,260,500 608,875 (651,625) 500,186
I nterest 0 77
Total Expenditures 1,826,242 1,106,258 (719,984) 1,023,194
Excess or Deficiency of
Revenues over Expenditures (1,549,339) (564,139) 985,200 (696,414)
Other Financinq Sources
Proceeds from sale of bonds 0 4,045,280
Operating transfers in 407,064 193,524 (213,540) 401,379
Total Other Financing Sources 407,064 193,524 (213,540) 4,446,659
Excess or Deficiency of
Revenues and Other Financing Sources
Over Expenditures (1,142,275) (370,615) 771,660 3,750,245
Fund Balance January 1 5,966,421 5,966,421 0 2,216,176
Fund Balance December 31 $4,824,146 $5,595,806 $771,660 $5,966,421
-65-
Cit of Brookl n Center B-5
Y Y
Earle Brown Farm Tax Increment District Fund
STATEMENT OF REVENUES, EXPENDiTURES, AND CHANGES IN
FUND BALANCE BUDGET AND ACTUAL
For the Year Ended December 31, 1996
1996
Actual Over
or Under(-) 1995
Budget Actual Budget Actual
Revenues
Property taxes $1,335,000 $2,180,251 $845,251 $1,755,156
Charges for services 5,000
Total Revenues 1,335,000 2,180,251 845,251 1,760,156
Exeenditures
Se►vices and other charges 1,200 1,539 339 44,025
interest 90,000 34,914 (55,086) 78,277
Total Expenditures 91,200 36,453 (54,74n 122,302
Excess or Deficiency of
Revenues over Expenditures 1,243,800 2,143,798 899,998 1,637,854
Other Financina Uses
Operating transfers out (1,180,000) (1,180,000) 0 (1,285,000)
Total Other Financing Sources �(1,180,000) (1,180,000) 0 (1,285,000)
Excess or Deficiency of
Revenues over Expenditures
and Other Financing Uses 63,800 963,798 899,998 352,854
Fund Balance January 1 (1,807,020) (1,807,020) 0 (2,159,874)
Fund Balance December3l ($1,743,220) ($843,222) $899,998 ($1,807,020)
-66-
City of Brooklyn Center 6=6
Tax Increment District No. 3
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCE BUDGET AND ACTUAL
For the Year Ended December 31, 1996
1996
Actual Over
or Under(-) 1995
Budget Actual Budget Actuai
Revenues
Property taxes $0 $137,600 $137,600 $0
investment earnings 1,853 1,853
Total Revenues 0 139,453 139,453 0
Excess or Deficiency of
Revenues over Expenditures 0 139,453 139,453 0
Fund Balance January 1 0 0 0 0
Fund Balance December 31 $0 $139,453 $139,453 $0
-67-
City of Brooklyn Center B_7
Diseased Tree Remova! Fund
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCE BUDGET AND ACTUAL
For the Year Ended December 31, 1996
1996
Actual Over
or Under(-) 1995
Budget Actual Budget Actual
Revenues
Special assessments $17,000 $8,504 ($8,496) $11,220
Charges for services 12,000 3,742 (8,258) 1,264
Investment eamings 1,000 3,277 2,277 3,114
Total Revenues 30,000 15,523 (14,47'� 15,598
Exnenditures
Personal services 2,000 (2,000)
Services and other charges 28,000 6,813 (21,18n 14,386
Total Expenditures 30,000 6,813 (23,187) 14,386
Excess or Deficiency of
Revenues over Expenditures 0 8,710 8,710 1,212
Fund Balance January 1 54,973 54,973 0 53,761
Equity Transfer Out (63,683) (63,683)
Fund Balance December 31 $54,973 $0 ($54,973) $54,973
-68-
1
City of Brooklyn Center 6
Community Development Block Grant Fund
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCE BUDGET AND ACTUAL
For the Year Ended December 31, 1996
1996
Actual Over
or Under(-) 1995
Budget Actual Budget Actual
Revenues
Intergovernmentai
Federal Grants $270,083 $55,698 ($214,385) $264,641
To1al Revenues 270,083 55,698 (214,385) 264,641
Other Financinq Uses
Operating transfers out 270,083 55,698 (214,385) 264,641
Excess or Deficiency of
Revenues over Other Financing Use 0 0 0 0
Fund Balance January 1 0 0 0 0
Fund Balance December 31 $0 $0 $0 $0
1
-69-
City of Brooklyn Center, Minnesota
DEBT SERVICE FUNDS
The Debt Service Funds were established to account for the payment
(from taxes and other resources) of interest and principal on long-
term general obligation debt.
This fund type utilizes the modified accrual basis of accounting.
Revenues are recognized in the accounting period in which they become
available and measurable. Expenditures are recognized in the
accounting period in which the principal and interest are due.
The City's Debt Service funds included in this section are:
State Aid Street Bonds Debt Service Fund: This fund accounts for the
accumulation of state aid allotments, for payment of principal and
interest on bonds issued in 1991 to finance a comprehensive
improvement and upgrading 69th Avenue North as a state aid route.
Tax Increment Bonds of 1985 1991 Funds: These funds were
established to account for the accumulation of resources for payment
of principal and interest on general obligation bonds issued in 1985
and 1991 to finance the purchase and redevelopment of the historic
Earle Brown Farm in Brooklyn Center.
Refundina Tax Increment Bonds of 1992 Fund: This fund was established
to account for the resources that will be used to advance refund the
Tax Increment Bonds of 1985.
Tax Increment Bonds of 1995 Fund: This fund was established to
account for the accumulation of resources for payment of principal and
interest on general obligation bonds issued in 1995 to f inance various
redevelopment projects within the City.
Refundina Bonds of 1987 Fund: This fund was established to account
for the collection of special assessments for the payment of principal
and interest on general obligation bonds. The bonds were sold during
1987 to refund Improvement Bonds of 1982.
Street Imbrovement Bonds of 1994 1996 Funds: These funds were
established to account for the collection of special assessments and
property taxes for the payment of principal and interest on general
obligation improvement bonds. The bonds were sold to finance various
street improvement projects within the City.
-70-
1
C-1
City of Brooklyn Center
Debt Service Funds
COMBINING BALANCE SHEET
December 31, 1996
Refunding
Tax Tax Tax Street Street Street
Increment Increment Increment Refunding Improvement Improvement Improvement
Bonds Bonds Bonds Bonds Bonds Bonds Bonds Totals
of 1991 of 1992 of 1995 of 1987 of 1994 of 1995 of 1996 1996 1995
ASSETS
Cash and cash equivalents $287,459 $287,288 $120,889 $152,377 $225,821 $143,764 $7,567 $1,225,165 $704,486
Investments 429,938 429,682 180,809 227,904 1,268,333 1,766,828
Delinquent taxes receivable 1,300 785 2,085 936
Special assessments receivable:
Deferred 55,385 103,870 157,635 458,099 774,989 465,750
Delinquent 5,515 561 480 6,556 7,757
Due from other funds 69,022 68,982 29,027 36,588 203,619 240,707
Restricted Investments 4,180,920
V
TOTAL ASSETS $786,419 $785,952 $330,725 $477,769 $331,552 $302,664 $465,666 $3,480,747 $7,367,384
LIABILITIES AND FUND BALANCES
Liabilities
Accounts Payable $200 $63 $63 $63 $389
Securites lending agreement 147,878 $147,790 62,189 $78,387 436,244 $441,834
Deferred revenue 60,900 $105,731 158,900 458,099 783,630 474,443
Total Liabilities 148,078 147,790 62,252 139,287 105,731 158,963 458,162 1,220,263 916,277
Fund Balances
Reserved for debt service 638,341 638,162 268,473 338,482 225,821 143,701 7,504 2,260,484 6,451,107
Total Fund Balances 638,341 638,162 268,473 338,482 225,821 143,701 7,504 2,260,484 6,451,107
TOTAL �IABILITIES AND
FUND BALANCES $786,419 $785,952 $330,725 $477,769 $331,552 $302,664 $465,666 $3,480,747 $7,367,384
�r r �r r r r� r r
w� r■■� r
C-2
City of Brooklyn Center
Debt Service Funds
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
For the Year Ended December 31, 1996
Refunding
State Tax Tax Tax Tax Street Street Street
Aid Increment Increment Increment Increment Refunding ImprovemeM Improvement Improvement
SVeet Bonds Bonds Bonds Bonds Bonds Bonds Bonds Bonds Totals
Bonds of 1985 of 1991 of 1992 of 1995 of 1987 of 1994 of 1995 of 1996 1996 1995
Revenues
Property taxes $67,529 a68,896 a136,425 a70,214
Special assessments $161,828 32,996 35,699 230,523 281,676
Intergovemmental 5308,273 3pg�273 306,7�
Investmenteamings a11,321 $8,718 a108,892 $24,790 12,899 9,961 4,669 181,250 253,540
Total Revenues 308,273 11,321 8,718 108,892 24,790 174,727 110,486 109,264 856,471 912,155
Exoenditures I
Principal 160,000 4,475,000 375,000 50,OOQ 65,�00 5,125,000 825,000
Interest 147,873 178,305 266,825 219,623 224,246 3,550 40,057 26,182 1,106,661 1,075,976
Fiscal ager�t fees 400 1,387 600 125 300 125 a262 3,199 2,009
Total Expendkures 308,273 4,654,692 642,425 219,623 224,371 53,550 105,357 26,307 262 6,234,860 1,902,985
N Excess or Deficiency of Revenues
OverExpenditures 0 (4,643,371) (633,707) (110,731) (199.581) 121,177 5,129 82,957 (262) (5,378,389) (990,830)
Other Financina Sources or Uses f-�
Prxeeds irom sale of bonds 7 7� 7 q�g
Operating transfers in 4,180,000 620,000 560,000 5�3gp,ppp ��ZgS,ppp
Operating transfers out (4,180,000) (4,180,000)
Total Other Financing Sources or Uses 4,180,000 620,000 (3,620,000) 7,7� �,�g7,7� �,753,833
Excess or Deficiency of Revenues and
Other Sources over Expenditures
and OtF� Uses 0 (463,371) (13,70� (3,730,731) (199,581) 121,177 5,129 82,957 7,504 (4,190,623) 76:3,003
Fund Balar�ces January 1 0 651,344 652,048 4,180,920 468,054 217,305 220,692 60,744 0 6,451,107 5,688,104
Equity Transfer In (Out) (187,973) 187,973 p
Fund Balances December 31 �0 $0 �638,341 y638,162 �268,473 E338,482 a225,821 a143,701 a7,504 32,260,484 a
i
City of Brooklyn Center, Minnesota
CAPITAL PROJECTS FUNDS
The Capital Projects Funds are established to account for all
resources used for the construction or acquisition of capital
facilities by the City except those financed by Enterprise Funds.
This fund type utili2es the modified accrual basis of accounting.
Revenues are recognized in the accounting period in which they become
available and measurable. E�enditures are recognized in the
accounting period in which the related liability is incurred.
The City's Capital Projects Funds included in this section are:
Capital Imnrovements Fund: This fund was established in 1968 to
provide funds, and to account for the expenditure of such funds, for
major capital outlays including, but not be limited to, construction
or acquisition of major permanent facilities having a relatively long
life; and/or to reduce debt incurred for capital outlays. The
financing sources of the fund include ad valorem taxation, transfers
from other Funds, issuance of bonds, federal and state grants, and
investment earnings.
Municinal State Aid for Construction Fund: This fund was established
to account for the state allotment of gasoline tax collections used
for transportation related construction projects.
Snecial Assessment Construction Fund: This fund was established to
account for the resources and expenditures required for the
acquisition and construction of capital facilities or improvements
financed wholly or in part by special assessments levied against
benefitted properties.
-73-
D-1
City of Brooklyn Center
Capital Projects Funds
COMBINING BALANCE SHEET
December 31, 1996
Municipal
State Aid Speciat
Capital for Assessment Totals
Improvements Construction Construction
Fund Fund Fund 1996 1995
ASSETS
Cash and cash equivalents $2,160,533 $1,221,574 $592,810 $3,974,917 $1,819,423
Investments 3,231,405 1,827,049 886,636 5,945,090 7,570,688
Accounts receivable 30,684 183 30,867 30,684
Special assessments
Deferred 928,756 928,756 905,638
Delinquent 78,412 78,412 57,978
Due from other funds 518,774 293,317 812,091 954,929
Due from other govemments 132,977 132,977 1,465,341
Advance to other funds 1,261,270 593,069 1,854,339 1,890,741
TOTAL ASSETS $7,202,666 $4,067,986 $2,486,797 $13,757,449 $14,695,422
LIABILITIES AND FUND BALANCES (DEFICITS)
Liabilities
Accounts payable $14,262 $48,589 $62,851 $4,516
Contracts payable $92,568 276,352 355,640 724,560 347,132
Securities lending agreement 1,111,446 628,416 304,960 2,044,822 1,905,861
Due to otherfunds 1,552,809 1,552,809 1,050,477
Accrued salaries and wages 140 1,847 1,987 1,373
Deferred revenue 132,977 1,007,168 1,140,145 2,419,957
Total Liabilities 1,204,154 1,052,007 3,271,013 5,527,174 5,729,316
Fund Balances (Deficits)
Reseived:
Advances to other funds 1,261,270 593,069 1,854,339 1,890,741
Unreserved 4,737,242 2,422,910 (784,216) 6,375,936 7,075,365
Total Fund Balances (Deficits) 5,998,512 3,015,979 (784,216) 8,230,275 8,966,106
TOTAL LIABILITIES AND
FUND BALANCES (DEFICITS) $7,202,666 $4,067,986 $2,486,797 $13,757,449 $14,695,422
74
D-2
City of Brooklyn Center
Capital Projects Funds
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
For the Year Ended December 31, 1996
Municipal
State Aid Special
Capitat for Assessment
Improvements Construction Construction Totals
Fund Fund Fund 1996 1995
Revenues
Special assessments $607,887 607,887 363,472
Intergovemmental $1,970,028 1,970,028 1,017,368
Investrnent eamings $363,357 150,867 31,517 545,741 560,055
Miscellaneous 0 3,975
Total Revenues 363,357 2,120,895 639,404 3,123,656 1,944,870
Exoenditures
Personal services 16,765 33,549 180,055 230,369 188,394
Supplies 219 2,395 8,181 10,795 6,780
Services and other charges 13,761 652,658 553,548 1,219,967 476,633
Capitai ouUay 353,547 1,899,742 1,490,828 3,744,117 2,321,134
Interest 140,642 140,642 92,486
Totai Expenditures 384,292 2,588,341 2,373,254 5,345,890 3,085,427
Excess or Deficiency of Revenues
Over Expenditures (20,935) (467,449) (1,733,850) (2,222,234) (1,140,55�
Other Financina Sources or Uses(-1
Proceeeds from sale of bonds 1,422,720 1,422,720 770,640
Operating transfers in 0 7,357
Operating transfers out 0 (7,357)
Total Other Financing Sources or Uses(-) 1,422,720 1,422,720 770,640
Excess or Deficiency of Revenues and Other
Financing Sources Over Expenditures and
Other Financing Uses (20,935) (467,449) (311,130) (799,514) (369,917)
Fund Balance (Deficits) January 1 6,019,447 3,483,428 (536,769) 8,966,106 9,336,023
Equity Transfers In 63,683 63,683
Fund Balance (Deficits) December 31 $5,998,512 $3,015,979 (5784,216) 38,230,275 a8,966,106
-75-
S-3
City of Brooklyn Center
Capital Improvements Fund
PROJECT-LENGTH SCHEDULE OF CONSTRUCTION PROJECTS
From Beainninp to December 31. 1996
Project Over(-) Under
1996 to Date Expended
Type of Project Appropriations Expenditures Expenditures Appropriations
Fire training facility $95,000 $0 $70,000 $25,000
Central garage improvements 1,133,624 11,546 1,234,170 (100,546)
Underground Tank Replacement 5,545 2,468 2,468 3,077
Interim city hall remodelling 440,000 88,915 476,585 (36,585)
Parlc playground equipment 215,500 220,983 220,983 (5,483)
Shingle Creek Pkwy. Retaining Wall 8,230 9,322' 9,322 (1,092)
Northport Tennis Court Improvements 24,650 27,850 27,850 (3,200)
I Park Lighting Improvements 31,320 23,208 23,208 8,112
Totals $1,953,869 $384,292 $2,064,586 ($110,71�
r r� s �w r rr r r
i i
s�
City of Brooklyn Center
Municipal State Aid Construction Fund
PROJECT-LENGTH SCHEDULE OF CONSTRUCTION PROJECTS
From Beainnina to December 31- 1996
Project Over(-) Under
1996 to Date Expended
Project Appropriation Eupenditures Expenditures Appropriations
Humbbldt Avenue improvements $507,486 $138,101 $539,552 ($32,066)
69th Ave., Shingle Creek Pkwy to Dupont Ave. improvements 1,744,298 1,564,491 1,621,175 123,123
France Ave., 69th Ave to North City Limits improvements 674,400 4,846 4,846 669,554
Orchard Lane East improvements 47,600 75,983 75,983 (28,383)
Brooklyn Boulevard improvements 207,090 35,715 204,706 2,384
Woodbine Neighborhood improvements 75,740 7,289 142,049 (66,309)
Xerxes, 53rd Avenue improvements 121,041 9,788 9,788 111,253
69th Avenue Landscaping, Phase II 70,523 2,470 57,594 12,929
Logan, James and KnoxAvenues Neighborhood improvements 974,024 749,661 749,661 224,363
V
V
Totals $4,422,202 $2,588,344 $3,405,354 $1,016,848
I
S-5
City of Brooklyn Center
Special Assessment Construction Fund
PROJECT-LENGTH SCHEDULE OF CONSTRUCTION PROJECTS
From Beqinnina to December 31. 1996
Project Over(-) Under
1996 to Date Expended
Type of Project Appropriations Expenditures Expenditures Appropriations
Logan, James and Knox Avenues improvements $456,530 $722,018 $768,393 ($311,863)
Woodbine Neighborhood improvements 1,280,498 47,086 804,571 475,927
Reforestation of 1994 and 1995 improvement projects 21,293 21,527 21,527 (234)
69th Ave., Shingle Creek Pkwy to Dupont Ave. improvements 154,000 134,460 134,460 19,540
Orchard Lane East improvements 1,395,026 1,248,528 1,289,116 105,910
°D Xerxes, 53rd Avenue improvements 176,400 77,466 77,466 98,934
Orchard Lane West improvements 1,078,610 52,582 52,582 1,026,028
Totals $4,562,357 $2.303.667 $3,148,115 $1,414,242
�r r
City of Brooklyn Center, Minnesota
ENTERPRISE FUNDS
The Enterprise Funds were established to account for the financing of
self supporting activities of the City which render services on a user
charge basis to the general public.
Revenues and expenses in these funds are recognized on the accrual
basis of accounting. Revenues are recognized in the accounting period
in which they are earned and become objectively measurable. Expenses
are recognized in the period incurred, if objectively measurable.
The City's Enterprise Funds included in this section are:
Municinal Liauor Fund: This fund accounts for the operations of the
Ci�y's three municipal off-sale liquor stores.
Golf Course Fund: This fund accounts for operations of Centerbrook
Golf Course, a 9 hole, par 3 course owned by the City.
Earle Brown Heritaae Center Fund: This fund accounts for the
operation of a pioneer farmstead which 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 "Inn On The Farm" is a bed
and breakfast with ten rooms available to complement convention
activities or be rented individually. Earle's, a unique special
occasion restaurant, is also located at the "Inn on the Farm".
Several of the barns have been restored as unique office settings
which have found a niche in the market.
Recvclincr and Refuse Fund: This fund accounts for the operation of
a state mandated recycling program. Expansion into refuse collection
will take place only when there is a clear advantage to be achieved
by it.
Water Utilities Fund: This fund accounts for the provision of water
to customers. Administration, wells, water storage, and distribution
are included.
Sanitarv Sewer Fund: This fund 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 Environmental Services
whose fees represent about 77� of this fund's expenses.
Storm Drainaae Fund: This fund accounts for the operations and
improvements of the storm water drainage system. It incorporates not
only the storm sewer 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.
-79-
City of Brooktyn Center
Enterprise Funds (Continued next page)
COMBINING BALANCE SHEET
December 31, 1996
E. Brown
Municipal Golf Heritage Recycling Water Sanitary Storm
Liquor Course CeMer 8 Refuse Utility Sewer Drainage Totals
ASSETS Fund Fund Fund Fund Fund Fund Fund 1996 1995 i
C Assets
Cash and cash equivalents s150 a8,417 a214,449 a30,282 a2,262,797 a891,735 a3,407,830 a2,378,526
Investments 45,291 3,384,356 1,333,725 4,763,372 9,324,181
Acc�unts receivable net 2,637 437,944 24,773 125,658 255,823 a96,582 943,417 588,058
Axrued revenue 21,370 75,489 192,971 79,645 369,475 578,076
Special assessments receivable:
Deferced 27,886 5,337 292,327 325,550 131,422
Delinquent 4,170 206 4,376 3,148
Due from other governments 66,836 167,531 234,36� 611,594
Inventories 328,589 7,500 27,430 15,540 379,059 356,589
Prepaid expenses 16,633 2,000 15.893 125,042 159,568 143,211
TotalCurrentAssets 348,009 17,917 695,716 121,716 5,895,896 2,871,469 636,291 10,587,014 14,114,805
C10
Fixed Assets
Mains and lines 9,838,931 7,929,599 4,083,9t7 21,852,447 18,455,923
Structures 327,595 308,890 9,555,862 4,439,590 2,767,677 17,399,614 16,520,591
Equipmer�t 143,013 32,498 1,049,989 29,247 22,138 4,590 1,281,475 1,273,724
Land 107,405 1,391,711 925,000 23,938 3,388 287,158 2,738,600 2,738,600
Land improvements 12,904 77,450 2.600 92,954 92.954
590,917 1,810,549 11.530,851 14,334,306 10,722,802 4,375,665 43,365,090 39,081,292
Less: Albrnrance for depreciation 266.062 122,112 2.156,808 4,497,529 2,396,001 46.828 9,487,340 8,861,698
Total Net Fixed Assets 322,855 1,688,437 9,374.043 9,836.777 8,326,801 4,328,837 33,877,750 30,219,594
TOTALS a670,864 a1,706,354 a10,069,759_ a121,716 a15,732,673 511,198,270 a4,965,128 a44,464,764 $44,334,399
i
E-1
(Continued from
E. Brown pryor Pa9e)
Municipal Golf Heritage Recycling Water Sanitary Storm
L'puor Course Center Refuse Utility Sewer Drainage Totals
Fund Fund Fund Fund Fund Fund Fu�d 1996 1995
�,IABILITj�S AND FUND EQUIN
Current Lfabi iti s
Accounts payable a40,559 a2,975 5172,653 3834 a14,657 $70,844 32,860 a305,382 a277,528
Contracts payabie 79,200 60,862 140,062 952,564
Securitiestendingagreement 15,578 1,164,054 458,737 1,638,369 2,331,714
Accrued sataries payable 8,940 920 36,663 7,024 1,829 254 55,630 37,763
Accrued vacation and sick pay 24,006 1,873 17,936 15,844 59,659 52,459 I
Accrued iMerest Qayable 35,835 35,835 37,760
Due to other funds 585,000 177,005 762,005 595,755
Current portion of long-term debt 26,886 ��,ppp g� ggg 82g
Total Currerrt Liabilities 100,391 5,768 812,252 16,412 1,201,579 610,610 431,816 3,178,828 4,420,371 I
ot -Term LiabilRies
Bonds payable 1,565,000 1�565,000 1,720,000
0o Advances from other funds 84,384 1,150,000 1,234,384 1,272,844
Total Long-tertn Liabilities 84.384 1,150,000 1,565,000 2.799,384 2,992,844
Fund Eauit�r
Contributlons 636,886 9,238,244 4.997,510 5,668,426 501,048 21,042.114 20.997,801
Retained eamings (Deficits)
Reserved:
Del# Service 237,595 237,595 196,315
Special assessrtients 32,056 5,337 292,533 329,926 134,570
Unreserved 486,089 (86,300) 19,263 105,304 9,501,528 4,913,897 1,937,136 16,876,917 15,590,498
Total Retained Eamings (Deficits) 486,089 (86,300) 19,263 105.304 9,533,584 4,919.234 2,467,264 17.444,438 15,923,383
Total Fund Equity 486,089 550,586 9,257,507 105,304 14.531,094 10,587.660 2,968,312 38,486,552 36.921.184
TOTALS 5670,864 31,706,354� a10,069,759 a 315,732,673 $11,198,270 a4,965,128 544,464,764 a44,334,399
i
Cit�r of Brooklyn Center
Enterprise Funds (Continued neM page)
COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN RETAINED EARNINGS
For the Year Ended December 31,1996
E. Brovm
Municipal Golf Hetitage Recycling Water Sanitary Stortn
Uquor Course Center Refuse Utility Sew�er Drainage Totals
Oueratina Revenues Fund Fund Fund Fund Fund Fund Fund 1996 1995
Sales and user tees 52,850,307 a327,642 $2,664,676 a211,468 a1,145,040 32,182,455 a822,980 510,204,568 y9,715,806
Cost o( sales 2,157,659 34,221 373,351 2.565,231 2,421,192
NetOperatingRevenues 692,648 293,421 2,291,325 211,468 1,145,040 2,182,455 872,980 7,p9,337 7,294,614
Operating�i penses
Personal servkes 369,060 127,364 1,228,081 354,630 182,608 126,234 2,387,977 2,416,138
Supplies 11,499 20,672 159,216 87,393 8,515 858 288,153 285,394
Other servkes 47,425 39,536 457,471 219,356 182,632 1,687,046 76,396 2,709,862 2,626,706
0° Insurance 13,520 6,451 31,072 216 10,511 4,738 1,481 67,989 79,363
N
Utllities 24,506 12,880 148,684 124,005 21,07$ 331,150 344,069
Rer�t 35,936 56,838 92,774 86,718
Depreciation 22,745 16,098 333,384 230,236 127,040 41,756 771,259 744,394
Totat Operdting E�enses 524,691 223,00f 2,414,746 219,572 989,407 2,031,022 246,725 8,649,164 6,582,782
Operafing Income (Lo�s) 5167,957 570,420 (a123,421) (a8,104) $155,633 a151,433 $576,255 $990,173 a711,832
(CoMinued from
prior page)
E. Brown
Municipal Golf Heritage Recycling Water Sanitary Storm
Liquw Course Center Refuse Utility Sewer Drainage Totals
Fund Fund Fund Fund Fund Fund Fund 1996 1995
ono ratino Revenues or Ex�enses/
Investment eamings 51,668 a788 a5,102 b283,215 a165,450 a47,363 a503,586 $609,594
Special assessments: j
Senrice hookups 8 delinquencies (6,924) 676
Otherrevenue 9,813 5,073 �4,ggg �7,584
Gain (loss� on disposal of fixed assets (224)
(119) (429) (772) (2,375)
Interest and fiscal agent fees (9,598) (58,075) (a35,979) (86,690) (190,342) (192,851)
NonoperatingTotals 1,883 (57,511) (35,979) 5,102 281,364 166,007 (39,756) 321,110 436,146
Income Before Operating Transfers 169,840 12,909 (159,400
(3,002) 436,997 317,440 536,499 1,311,283 1,147,978
w
Operating Transfers Out (100,000) I
(1�,�)
Net Income (Loss) 69,840 12,909 (159,400) (3,002) 436,997 317,440 536,499 1,211,283 1,047,978
Depreciation on contributed assets
that reduces contributed capital 309,772 309.772 336,822
Retained Eamings (Deficits) Jan. 1 416,249 (99,209) (131,109) 108,306 9,096,587 4,601,794 1,930,765 15,923,383 14,538,583
Retained Eamings (Deficits) Dec. 31 5486,089 (586,300) 319,263 5105,304 59,533,584 s4,919,234 a2,467,264 a17,444,438 a15,923,383
City of Brooklyn Center
Enterprise Funds (Continued next page)
COMBINING STATEMENT OF CASH FLOWS
For the Year Ended December 31, 1996
E. Brown
Municipal Golf Heritage Recycling Water Sanitary Storm
Liqu� Course Center Refuse Utility Sewer Drainage Totals
Cash flows from ooeratina activities: Fund Fund Fund Fund Fund Fund Fund 1996 1995
Operating income(I�s) a167,957 $70,420 (5123,421) (a8,104) $155,633 5151,433 a576,255 5990,173 $711,832
Adjustments to reconcile operating income
(loss) to net cash provided by (used for)
operating activiaes:
Depreclatio� 22,745 16,098 333,384 230,236 127,040 41,756 771,259 744,394
Changes in assets and liabilities:
Receivables 6,056 (122,915) (6,329) 17,881 77,847 62,573 35,113 537,351
InveMories (27,589) 35 1,663 3,421
Prepaidexpenses (f0,165) (2,000) 1,545 (22,470) (28,014)
(5,737) (16,357) {54)
Payables (41,235) 667 19,621 334 (30,258) (736,266) 2,489 (784,648) 791,755
Securitles lending agreement (1,860) (86,09� (472,474
Accrued expenses 3,455 623 17,044 4� (132,914) (693,345) 2,331,714
(302) (139) 25,067 9,502
Accrued interest payable g��
Other rwnoperating income 9,813 (1,851) 676 8,638 21,778
Net cash provided by (used for)
operating activities 131,037 85,843 126,921 (15,959) 293,351 (857,783) 548,095 311,505 5,120,258
Cash flows from nortcapitai f+nancina activities:
Proceeds from borrowings on advance 11,500
Proceeds from borrowings on due to other funds 77�pp5 n�pps 206 SSp
Principal repayments on advance (24,902) (11,500)
Principal repaymerrts on due to other funds (10,755)
Interest paid on advance irom other funds (9,598) (58,075)
IMerest pafd on due to other funds ��,9�� (67,673) (70,273)
operaan� cransters ouc ��ao,000� (ss,s�s� �s�,sss�
(�oo,000) (�oo,000)
Net cash provided by (used for)
noncapital flnancing activities (3134�500) (369,575) (546�734) 30 SO 30 5177,005 (a73,804) ($6,689)
i i
i
E-3
(Continued from
priorpage)
E. Brown
Municipal Golf Heritage Recycling Water Sanitary Storm
Liquor Course Center 8 Refuse Utility Sewer Drainage Totals
Fund Fund Fund Fund Fund Fund Fund 1996 1995
Cash flows from caoital and related
finaneina activities:
Capital contributions a354,085 �354.085 a146,963
Acquisition and construction of
wpital assets ($9,11� (�9,260) (a1,125,585) (�1,697,605) (1,588,620) (4,430,187) (2,998,831)
Principal paid on revenue bonds p
Interest paid on revenue bonds
(86,690) (86,690) (90,925)
Net cash provided by (used for) capital
andrelatedfinancingactivities a0 (9,11� (9,260) a0 (1,125,585) (1,697,605) (1,431,225) (4,272,792) (2,942,793)
Cash flows from investina activities:
Investments purchased (10,411) (777,970) (306,586) (1,094,967) (6,526,420)
Investmerds sold or matured 34,853 2,392,785 2,696,638 531,500 5,655,776 5,214,972
Irrterestoninvestments 1,668 788 5,102 283,215 165,450 47,363 503,586 609,594
Net cash provided by (used for)
investing activities 1,668 788 0 29,544 1,898,030 2,555,502 578,863 5,064,395 (701,854)
Net increase (decrease) in cash and
cash equivalents (1,795) 7,939 70,927 13,585 1,065,796 114
Cash and cash equivalents at
beginningoftheyear 1,945 478 143,522 16,697 1,197,001 891,621 127,262 2,378,526 909,604
Cash and cash equivalents at
endottheyea� yti50 58.417 a21A,449 $30,282 32,262,797 a891,735 a0 33,407,830 $2,378,526
NONCASH FINANCING, CAPITAL, AND INVESTING ACTIVITIES
Gain (Loss) on disposal of faced assets (a224) (a119
(3429) (5772) ($2,375)
E-4
City of B�ooklyn Center
Municipal Liquor Fund
COMPARATIVE STATEMENT OF REVENUES, EXPENSES
AND CHANGES IN RETAINED EARNINGS
For the Year Ended December 31, 1996
1996 1995
Sales
Liquor $905,644 $878,251
Wine 295,757 267,177
Beer 1,462,664 1,384,539
Soft drinks 58,390 56,404
Other merchandise 127,852 110,405
Total Sales 2,850,307 2,696,776
Less: Cost of Sales 2,157,659 2,043,179
Net Operating Revenues 692,648 653,597
O�eratinq Expenses
Personal services 369,060 365,502
Supplies 11,499 13,063
Other services 47,425 41,659
Insurance 13,520 13,941
Utilities 24,506 23,683
Rent 35,936 32,584
Depreciation 22,745 20,045
Total Operating Expenses 524,691 510,477
Operating Income 167,957 143,120
Nono�eratina Revenue or Ex�ense(-1
Investment eamings 1,668 2,069
Other revenue 9,813 4,924
Interest and fiscal agent fees (9,598) (12,639)
Total Nonoperating 1,883 (5,646)
Operating Transfers to General Fund 100,000 100,000
Net Income 69,840 37,474
Retained Eamings January 1 416,249 378,775
Retained Eamings December 31 $486,089 $416,249
-86-
E_5
City of Brooklyn Center
Golf Course Fund
COMPARATIVE STATEMENT OF REVENUES, EXPENSES
AND CHANGES IN RETAINED EARNINGS
For the Year Ended December 31, 1996
1 1996 1995
Oqeratina Revenues
Green fees $250,514 $227,233
Rentals 10,374 8,683
Leagues 6,918 7,577
Golf lessons 8,271 11,135
Concessions 25,647 21,689
Merchandise 23,309 22,132
Pop machine 2,470 2,734
Miscellaneous 139 405
Total Operating Revenues 327,642 301,588
Less: Cost of Sales 34,221 36,102
Net Operating Revenues 293,421 265,486
Operatina Expenses
Personal services 127,364 127,233
Supplies 20,672 21,471
Other services 39,536 46,757
Insurance 6,451 7,988
Utilities 12,880 12,566
Depreciation 16,098 15,990
Total Operating Expenses 223,001 232,005
Operating Income 70,420 33,481
Nono�eratina Revenue or Ex�ense(-1
Investment eamings 788
Loss on disposal of fixed assets (224) (493)
Interest and fiscal agent fees (58,075) (57,634)
Total Nonoperating (57,511) (58,12n
Net Income (Loss) 12,909 (24,646)
Retained Eamings (Deficit) January 1 (99,209) (74,563)
Retained Earnings (Deficit) December 31 ($86,300) ($99,209)
-87-
E-6
City of Brooklyn Center
Ea�ie Brown Heritage Center Fund
COMPARATIVE STATEMENT OF REVENUES, EXPENSES
AND CHANGES IN RETAINED EARNINGS
For the Year Ended December 31, 1996
1996 1995
Ooeratina Revenues
Conventions $757,860 $702,466
Catering 1,469,046 1,249,546
Inn on the Farm 327,265 321,344
Office Rents 110,505 112,109
Total Operating Revenues 2,664,676 2,385,465
Less: Cost of Sales 373,351 341,911
Net Operating Revenues 2,291,325 2,043,554
Operatinq Expenses
Personal services 1,228,081 1,258,271
Supplies 159,216 152,491
Other services 457,471 493,619
Insurance 31,072 36,255
Utilities 148,684 137,229
Rent 56,838 54,134
Depreciation 333,384 347,505
Total Operating Expenses 2,414,746 2,479,504
Operating Loss (123,421) (435,950)
Nononeratina Revenue or Exnense(-)
Loss on disposal of fixed assets (34�
Interest and fiscal agent fees (35,979) (31,653)
Total Nonoperating (35,979) (32,000)
Net Loss (159,400) (467,950)
Depreciation on contributed assets that
reduces contributed capital 309,772 336,822
Retained Earnings (Deficit) January 1 (131,109) 19
Retained Eamings (Deficit) December 31 $19,263 ($131,109)
-88-
E_7
City of Brooklyn Center
Recycling and Refuse Fund
COMPARATIVE STATEMENT OF REVENUES, EXPENSES
AND CHANGES IN RETAINED EARNINGS
For the Year Ended December 31, 1996
1996 1995
Oaeratina Revenues
Recycling service fees $211,468 $212,179
Operatina Expenses
Other services 219,356 214,909
Insurance 216 308
Total Operating Expenses 219,572 215,217
Operating Income (Loss) (8,104) (3,038)
Nononeratina Revenues
Investment earnings 5,102 5,632
Total Nonoperating 5,102 5,632
Net Income (Loss) (3,002) 2,594
Retained Eamings January 1 108,306 105,712
Retained Eamings December 31 $105,304 $108,306
89
City of Brooklyn Center E_g
Water Utility Fund
COMPARATIVE STATEMENT OF REVENUES, EXPENSES
AND CHANGES IN RETAINED EARNINGS
For the Year Ended December 31, 1996
1996 1995
Oqeratina Revenues
Service to customers $1,049,352 $968,257
Sale of ineters 24,884 23,768
Penalties 70,804 56,809
Total Operating Revenues 1,145,040 1,048,834
Oqeratinp Exqenses
Personal services 354,630 376,422
Supplies 87,393 87,234
Contractual services 182,632 185,115
Insurance 10,511 12,981
Utilities '124,005 151,405
Depreciation 230,236 241,251
Total Operating Expenses 989,407 1,054,408
Operating Income (Loss) 155,633 (5,574)
Nonoperatinq Revenues or Expenses(-�
Investment eamings 283,215 290,593
Special assessments (for hookups delinquencies) (6,924) 8,883
Other 5,073 2,660
Loss on disposal of fixed assets (494)
Total Nonoperating 281,364 301,642
Net Income 436,997 296,068
Retained Eamings January 1 9,096,587 8,800,519
Retained Eamings December 31 $9,533,584 $9,096,587
-90-
City of Brooklyn Center E-9
Sanitary Sewer Fund
COMPARATIVE STATEMENT OF REVENUES
AND CHANGES IN RETAINED EARNINGS
For the Year Ended December 31, 1996
1996 1995
O�eratinq Revenues
Service to customers $2,182,455 $2,282,067
Oneratina Exoenses
Personal services 182,608 186,002
Supplies 8,515 11,110
Contractual services 129,272 137,176
Metropolitan Council Environmentai Services 1,557,774 1,427,330
Insurance 4,738 5,774
Utilities 21,075 19,186
Depreciation 127,040 114,132
Total Operating Expenses 2,031,022 1,900,710
Operating Income 151,433 381,357
Nonoperatina Revenues
Investment eamings 165,450 238,419
Special assessments (for hookups delinquencies) 676 5,311
Gain (loss) on disposaf of fixed assets (119), (1,041)
Total o
Non perating 166,007 242,689
Net Income 317,440 624,046
Retained Eamings January 1 4,601,794 3,977,748
Retained Eamings December 31 $4,919,234 $4,601,794
91
Cify of Brooklyn Center E-10
Storm Drainage Fund
COMPARATIVE STATEMENT OF REVENUES, EXPENSES
AND CHANGES IN RETAINED EARNINGS
For the Year Ended December 31, 1996
1996 1995
Operatin4 Revenues
Service to customers $822,980 $788,897
O eratin_ Ex enses
p_�
Personal services 126,234 102,708
Supplies 858 25
Contractual services 76,396 80,141
Insurance 1,481 2,116
Depreciation 41,756 5,471
Total Operating Expenses 246,725 190,461
Operating Income 576,255 598,436
Nonoperatina Revenues or Exnense(-)
Investment eamings 47,363 72,881
Loss on disposal of fixed assets (429)
Interest and fiscal agent fees (86,690) (90,925)
Total Nonoperating (39,756) (18,044)
Net Income 536,499 580,392
Retained Eamings January 1 1,930,765 1,350,373
Retained Eamings December 31 $2,467,264 $1,930,765
-92-
City of Brooklyn Center, Minnesota
INTERNAL SERVICE FUNDS
Internal Service Funds are used to account, on a cost reimbursement
basis, for the financing of goods or services provided by one
department to other departments of the City.
Revenues and expenses in these funds are recognized on the accrual
basis of accounting. Revenues are recognized in the accounting period
in which they are earned and become measurable. Expenditures are
recognized in the accounting period in which they are incurred.
Public Emblovees Retirement Fund: This fund provides certain health
care insurance benefits for City employees who retire before age 65.
Substantially all of the City's full time employees may be eligible
for those benefits from the time they qualify for an unreduced PERA
pension until they reach age 65 or become eligible for medicare.
Currently investment earnings are sufficient to provide benefits. In
the event that future costs would exceed earnings, other funds would
be charged for the costs associated with their employees.
Central Garaae Fund: This fund was established to account for the
acquisition and maintenance of all City vehicles and rolling stock
equipment. Vehicle and equipment maintenance, repair, and replacement
will be provided from rental rates which the Central Garage charges
City operating departments for use of the equipment.
-93-
F-1
City of Brooklyn Center
Intemal Service Funds
COMBINING BALANCE SHEET
December 31, 1996
Public
Employee Centrai
Retirement Garage Totals
ASSETS Fund Fund 1996 1995
Current Assets
Cash and cash equivalents $568,147 $1,850,656 $2,418,803 $1,086,253
Investments 849,750 2,767,936 3,617,686 4,536,638
Accounts receivable 3,046 2,557 5,603 13,569
Inventories 13,160 13,160 10,045
Total CurrentAssets 1,420,943 4,634,309 6,055,252 5,646,505
Fixed Assets
Equipment 4,696,440 4,696,440 4,190,101
Less: Allowance for depreciation 2,265,422 2,265,422 2,205,353
Total Net Fixed Assets 2,431,018 2,431,018 1,984,748
TOTALASSETS $1,420,943 $7,065,327 $8,486,270 $7,631,253
LIABILITIES AND FUND EQUITY
Cur�ent l.iabilfies
Accounts payable $96,564 $96,564 $103,362
Securities lending agreement $292,273 952,036 1,244,309 1,134,485
Accrued salaries payable 6,070 6,070 3,837
Accrued vacation and sick pay 26,535 26,535 23,725
Accrued health insurance liabilit�r 1,047,920 1,047,920 987,081
Total CuRent Liabili6es 1,340,193 1,081,205 2,421,398 2,252,490
Fund E ui
Contributions:
Transfers from:
General Fund 950,000 950,000 950,000
Debt Service Funds 1,335,437 1,335,437 1,335,437
Capital Projects Funds 8,078 8,078 8,078
Enterprise Funds 588,304 588,304 588,304
General Fixed Asset Account Group 763,307 763,307 976,587
Total Contributions 3,645,126 3,645,126 3,858,406
Retained Earnings:
Unreserved 80,750 2,338,996 2,419,746 1,520,357
Total Fund Equity 80,750 5,984,122 6,064,872 5,378,763
TOTAL LIABILITIES AND FUND EQUITY $1,420,943 $7,065,327 $8,486,270 $7,631,253
-94-
F-2
City of Brookl�m Center
Intemal Service Funds
COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN RETAINED EARNINGS
For the Year Ended December 31, 1996
Public
Employee Central
Retirement Garage Totals
Fund Fund 1996 1995
O�eratina Revenues
Billingsto departments $1,406,660 $1,406,660 $1,178,383
Sales 9,809 9,809 7,312
Total Operating Revenues 1,416,469 1,416,469 1,185,695
Operatin�Expenses
Personal Services $78,133 231,692 309,825 997,787
Suppiies 239,093 239,093 204,439
Other Services 64,868 64,868 51,702
Insurance 34,691 34,691 27,067
Depreciation 388,345 388,345 353,413
Total Operating Expenses 78,133 958,689 1,036,822 1,634,408
Operating Income (Loss) (78,133) 457,780 379,647 (448,713)
Nononeratina Revenue or Exnense
Investment Eamings 67,305 206,110 273,415 246,539
Gain on disposal of fixed assets 33,047 33,047 12,055
Total Nonoperating 67,305 239,157 306,462 258,594
Net Income (Loss) (10,828) 696,937 686,109 (190,119)
Depreciation on contributed assets that
reduces contributed capital 213,280 213,280 255,949
Retained Eamings January 1 91,578 1,428,779 1,520,357 1,454,527
r Retained Eamings December 31 $80,750 $2,338,996 $2,419,746 $1,520,357
-95-
F-3
City of Brooklyn Center
Internal Service Funds
COMBINING STATEMENT OF CASH FLOWS
For the Year Ended December 31, 1996
Employee Central
Retirement Garage Totals
Fund Fund 1996 1995
Cash flows from ooeratina activities:
Operating income (loss) ($78,133) $457,780 $379,647 ($448,713)
Adjustments to reconcile operating income
(loss) to net cash provided by (used for)
operating activities:
Depreciation 388,345 388,345 353,413
Changes in assets and liabilities:
Accounts receivable (367) 8,333 7,966 (10,542)
Inventories (3,115) (3,115) 7,829
Accounts payable (6,798) (6,798) 87,611
Securities lending agreement 20,309 89,515 109,824 862,521
Accrued salaries and leave 5,043 5,043 2,898
Accrued health insurance liability 60,839 60,839 781,205
Net cash provided by (used for) operating activities 2,648 939,103 941,751 1,636,222
Cash flows from ca�ital and related
financina activities:
Acquisition of fixed assets (885,116) (885,116) (397,020)
Proceeds from sale of fixed assets 83,548 83,548 24,685
Net cash provided by (used for) capital and related
financing activities: (801,568) (801,568) (372,335)
Cash flows from investina activities:
Investments purchased (195,334) (636,278) (831,612) (3,511,005)
Investments sold or matured 433,126 1,317,438 1,750,564 2,809,287
Interest on investments 67,305 206,110 273,415 246,539
Net cash provided by (used for) investing activities 305,097 887,270 1,192,367 (455,179)
Net increase (decrease) in cash and cash equivalents 307,745 1,024,805 1,332,550 808,708
Cash and cash equivalents at beginning
of the year 260,402 825,851 1,086,253 277,545
Cash and cash equivalents at end of
the year $568,147 $1,850,656 $2,418,503 $1,086,253
NONCASH FINANCING, CAPITAL, AND INVESTING ACTIVITIES
Gain (Loss) on disposal of fixed assets $33,047 $33,047 $12,055
-96-
City of Brooklyn Center, Minnesota
AGENCY FUNDS
Agency Funds are established to account for assets held by the City
as an agent for other City Funds, governments, or individuals.
The Agency Funds are maintained on the modified accrual basis of
accounting.
The City�s Agency Fund included in this section is:
Emblovee Deferred Combensation Fund: This fund was established to
account for funds on deposit with the trustees who administer the City
sponsored deferred compensation plan.
9 7
City of Brooklyn Center G
Employee Deferred Compensation Fund
STATEMENT OF CHANGES IN ASSETS AND LIAB(LITIES
For the Year Ended December 31, 1996
December 31, December 31,
1995 1996
Balance Additions Deductions Balance
ASSETS
Investments for defeRed
compensation plans held
by trustees (1) $3,174,761 $608,076 $189,377 $3,593,460
TOTAL ASSETS $3,174,761 $608,076 $189,377 $3,593,460
LIABILITIES
Due to employees for
defeRed compensation $3,174,761 $608,076 $189,377 $3,593,460
TOTAL LIABILITIES $3,174,761 $608,076 $189,377 $3,593,460
(1) Investments are reported at market value.
-98-
i
City of Brooklyn Center, Minnesota
GENERAL FIXED ASSET ACCOUNT GROUP
The General Fixed Asset Account Group was established to account for
the City's fixed assets which are not accounted for in an enterprise
fund, and which are tangible in nature, have a life longer than the
current fiscal year, and have a significant value. Depreciation is
not recorded on those assets.
-99-
City of Brooklyn Center g�
SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS BY SOURCE
For the Year Ended December 31, 1996
January 1, December 31�
1996 1996
Balance Acquisitions Disposals Balance
Investments in General Fixed Assets
Land $2,369,801 $2,369,801�
Buildings and improvements 6,215,497 $11,014 6,226,511
Park improvements 3,110,631 245,201 $76,785 3,279,047
Fumiture 1,306,679 195,869 12,410 1,490,13�
Departmental equipment 1,082,547 90,051 1,172,598
Total Investments in General
Fixed Assets $14,085,155 $542,135 $89,195 $14,538,095
Sources of Investments
Generallndebtedness $1,079,656 $6,837 $1,072,819
General Fund revenues 5,431,008 $173,303 34,392 5,569,919�,
Liquor store income 163,657 1,037 162,620
Contributions 231,891 1,468 230,423
Capital projects funds 6,384,435 368,832 40,429 6,712,838��
Federal grants �94,508 5,032 789,476
Total Sources of Investments $14,085,155 $542,135 $89,195 $14,538,095
100
S-7
City of Brooklyn Center
SCHEDULE OF GENERAL FIXED ASSETS BY FUNCTION AND ACTIVITY
December 31, 1996
Buildings and Park Fumiture and
Function Land Improvements Imqrovements Equipment Total
General govemment $482,977 $482,977
Govemment buildings $303,770 $5,578,166 $301,651 420,877 6,604,464
Public safety 72,754 1,243,139 1,315,893
Public works 187,089 187,089
Recreation 259,261 259,261
o Parks 2,066,031 575,591 2,977,396 69,393 5,688,411
Totals $2,369,801 $6,226,511 $3,279,047 $2,662,736 $14,538,095
S-8
City of Brooklyn Center
SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS
BY FUNCTION AND ACTIVITY
Forthe Year Ended December 31, 1996
General Fixed General Fixed
Assets Assets
January 1, December 31,
Function 1996 Additions Deductions 1996
General government $444,737 $38,240 $482,977
Government buildings 6,504,291 100,173 6,604,464
r
N Public safety 1,203,502 123,554 $11,163 1,315,893
Public works 145,350 54,938 13,199 187,089
Recreation 257,958 3,912 2,609 259,261
Parks 5,529,317 221,318 62,224 5,688,411
Totals $14,085,155 $542,135 $89,195 $1
City of Brooklyn Center, Minnesota
GENERAL LONG-TERM DEBT ACCOUNT GROUP
The General Long-Term Debt Account Group was established to account
for the City's unmatured general obligation long-term debt that is
secured by the full faith and credit of the City and is not the
primary obligation of an Enterprise Fund of the City.
103
H
City of Brooklyn Center
COMPARATIVE STATEMENT OF GENERAL LONG-TERM DEBT
December 31, 1996
December 31,
1996 1995
Amounts Available and to be Provided
Amounts Available in Debt Service Funds $2,260,484 $6,451,107
Amounts to be Provided:
From future tax levies 2,314,492 1,206,259
From future tax increments 11,660,024 12,102,634
From future gas tax allocations 2,295,000 2,455,000
Total Available and to be Provided $18,530,000 $22,215,000
General Lona-Term Debt Pavable
State Aid Street Bonds $2,295,000 $2,455,000
Special Assessment Bonds 3,030,000 1,705,000
Tax Increment Bonds 13,205,000 18,055,000
Total General long-Term Debt $18,530,000 $22,215,000
104
I
City of Brooklyn Center I
SUMMARY OF DEBT SERVICE REQUIREMENTS TO MATURITY
December 31, 1996
State Aid Special Total Debt
Street Bonds Assessment Bonds Tax Increment Bonds Service Requirements
Year Principal Interest Principal Interest Principal Interest Principal Interest
1997 $170,000 $138,588 $185,000 $122,647 $780,000 $755,892 $1,135,000 $1,017,127 I
1998 180,000 128,478 265,000 129,816 840,000 715,040 1,285,000 973,334
1999 190,000 117,560 290,000 117,724 1,165,000 662,232 1,645,000 897,516 �i,
2000 205,000 105,706 300,000 104,440 1,280,000 595,554 1,785,000 805,700
2001 220,000 92,740 300,000 90,606 1,450,000 519,409 1,970,000 702,755
2002 230,000 78,788 310,000 76,265 1,540,000 433,892 2,080,000 588,945 I
2003 245,000 83,821 315,000 61,259 1,645,000 340,413 2,205,OQ0 465,493 I
2004 265,000 47,496 325,000 45,532 1,775,000 237,302 2,365,000 330,330
2005 285,000 29,616 335,000 28,925 360,000 171,123 980,000 229,664
2006 305,000 10,141 245,000 14,279 360,000 147,362 910,000 171,782
2007 160,000 4,080 385,000 122,585 545,000 126,665
20a8 385,000 96,694 385,000 96,694
2009 400,000 70,200 400,000 70,200
2010 415,000 42,694 415,000 42,694
2011 425,000 14,344 425,000 14,344
$2,295,000 $812,934 _$3,030,000 $795,573 $13,205,000 $4,924,736 $18,530,000 $6,533,243
City of Brooklyn Center, Minnesota
STATISTICAL SECTION
The statistical section presents comparative statistical data for the
past ten years, and other pertinent information involving taxes,
revenues, expenditures, bonded debt, property valuations, insurance
coverage and miscellaneous statistics.
This information is intended to be useful and of interest to investors
in City bonds, financial institutions, and others interested in
municipal government financial statistics.
106
TAB�E 1
City of Brooklyn Center
GENERAL GOVERNMENTAL EXPENDITURES BY FUNCTION
Last Ten Fiscal Years
Fiscal General Public Public Community Parks and Economic Non- Total
Year Government Safety Works Services Recreation Development Departmental Expenditures
1987 $1,532,185 $2,604,773 $1,552,532 $48,185 $1,597,901 $313,860 $7,649,436
1988 1,768,607 2,716,205 1,768,918 69,117 1,706,516 $162,271 310,475 8,502,109
1989 1,793,495 3,103,222 1,754,800 81,043 1,814,391 168,305 347,315 9,062,571
1990 1,570,143 3,474,108 1,866,847 114,633 1,842,294 169,942 396,550 9,434,517
1991 1,591,108 3,950,862 1,827,052 104,706 1,870,385 177,179 414,149 9,935,441 I
0
1992 1,797,895 3,938,920 1,594,190 114,579 1,783,811 187,606 273,273 9,690,274
1993 1,560,674 3,870,563 1,756,187 41,325 1,999,270 178,703 300,803 9,707,525
1994 1,692,268 4,409,490 1,230,565 41,495 2,055,479 199,982 312,779 9,942,058
1995 1,831,045 4,598,618 1,363,244 41,146 2,226,121 209,576 289,747 10,559,497
1996 $1,736,334 $5,022,324 $1,270,438 $78,442 $2,282,054 $201,600 $317,148 $10,908,340
Note: Table includes General Fund oniy.
Source: City Finance Department Records
�r ��r ar r i rr r� r�r �r r
TABLE 2
City of Brooktyn Center
GENERAL GOVERNMENTAL
REVENUES AND OTHER FINANCING SOURCES BY SOURCE
Last Ten Fiscal Years
General Other
Fiscal Property Licenses Intergovern- Charges for Court Financing Total
Year Taxes Permits mental Services Fines Misc. Sources Revenue
1987 $2,541,016 $345,019 $3,060,252 $1,114,203 $269,903 $310,613 $166,888 $7,807,894
1988 3,318,656 329,783 3,078,491 1,215,635 243,952 363,918 337,871 8,888,306
1989 3,325,101 365,247 3,628,255 1,124,167 278,812 425,356 176,505 9,323,443
1990 3,854,798 297,495 3,201,888 919,537 215,804 443,623 174,925 9,108,070
0 1991 4,274,089 311,751 2,926,570 881,213 202,090 360,800 877,477 9,833,990
1992 4,291,322 332,186 3,133,495 794,876 148,701 301,771 620,000 9,622,351
1993 5,006,710 300,480 3,167,214 838,883 140,104 279,211 295,000 10,027,602
1994 5,703,773 317,620 3,443,247 825,959 113,573 241,570 100,000 10,745,742
1995 5,946,363 318,202 3,543,009 822,530 178,263 271,509 100,000 11,179,876
1996 $6,120,877 $402,000 $3,618,075 $839,583 $186,761 $328,750 $100,000 $11,596,046
Note: Table includes General Fund only.
Source: City Finance Department Records
TABLE 3
City of Brooklyn Center
TAX LEVIES AND TAX COLLECTIONS
Last Ten Fiscal Years
Collections Percentage Collections
of Current of Levy of Prior Total Delinquent
Yea�'s Taxes Collected Year's Taxes Collecaons Delinquent Taxes as
Year During Fiscal During Fiscal During Fiscal Total as a% of Taxes a% of
Collected Tax Levy Period Period Period Collections Tax Levy Receivable Tax Levy
1987 $3,396,789 $3,242,573 95.46% $68,651 $3,311,224 97.48% $73,052 2.15°k
1988 3,576,812 3,488,174 97.52% 13,090 3,501,264 97.89% 105,521 2.95%
1989 3,505,850 3,418,111 97.50°k 55,502 3,473,613 99.08% 84,948 2.42%
1990 4,092,978 3,857,576 94.25% 12,241 3,869,817 94.55% 221,097 5.40%
r
O
tO 1991 4,670,606 4,478,115 95.88% 79,443 4,557,558 97.58% 249,882 5.35%
1992 5,072,385 4,818,439 94.99% 6,898 4,825,337 95.13% 351,199 6.92%
1993 5,491,707 5,204,161 94.76% (121,158) 5,083,003 92.56% 189,400 3.45%
1994 5,857,342 5,634,255 96.19% (176,148) 5,458,107 93.18°k 246,311 4.21
1995 6,501,197 6,367,437 97.94°k (75,645) 6,291,792 96.78°�6 288,717 4.44%
1996 $6,495,206 $6,358,392 97.89°k ($11,91� $6,346,475 97.71°k $208,862 3.22°k
Total tax levy is net of Homestead and Agricultural Credit Aid.
Source: City Finance Department Records
rr r� �r i �r r �r �r r rr r r
I wr �r �r s �s r �w
TA
City of Brooklyn Center
ASSESSED VALUE ANO ESTIMATED MARKET VALUE OF ALL TAXABLE PROPERTY (1)
Last Ten Fiscal Years
1987 1988 7989 1990 1991 1992 1993 7994 1995 1996
Population 29,759 29,420 28,578 28,810 28,887 28,558 28,533 28,484 28,463 28,502
Real Property
Assessed value (1): Tax Tax (2) Tax Tax Tax Tax Tax Tax
cay: caPacny caPacrty c �c��v cav�nv ��r ��cv �v
Residential s91,929,246 $90,162,927 $11,834,805 $10,133.274 $9,730,898 59,193,012 59,077,238 59,110,096 59.045,048 39,485,333
Non-residential 139,433,999 154,031,355 19,707,624 16,185,832 16,305,868 16,013,701 14,654,123 13,665,143 13,567,573 12,837,157
Area-widealtocation (1,345,864) (8,148,681) (977,941) (1,365,235) (1,384,936) (1,550,097) (1,533,767) (954,616) (667,295) (586,003)
230.017,381 236,045,601 30,564,588 24,953,871 24,651.830 23,656,616 22,197,594 21,820,623 21,925,326 21,736,487
LessTaxlncrementDistrict 5,437,588 9,784,473 2,097,505 1,540,518 1,315,724 1,374,157 1,184,328 1,165,933 1,230,055 1,495,154
Totalassessedvalue 224,579,793 226.261,128 28,467,083 23,473.353 23,336,106 22,282,459 21,013,266 20,654,690 20,695,271 20,241,333
Estimated Market Value 854,846,550 910,336,300 950,463,900 1,000,269,000 1,016.754,000 1,000,829,400 978,404,100 959.668,700 961,811.400 976,115.400
f'' Personal Property
O
Assessedvalue 4,296,001 4.510,313 190,299 530,526 539,121 543.237 549,751 622,500 622,500 573,984
Estirtiated marketvalue 9,990,700 10,489,100 3,627,500 10,610,520 10,564,700 11,349,900 11,951,100 13.532,600 13,532,600 12,477,900
Total Taxable Property
Assessed value 5228,875,794 5230,771,441 528,657,382 523.943,879 523,875,227 522,825,696 $21,563,017 521,277,190 521,317,771 520,815,317
Estimated market value 5864.8;i7,250 5920,825.400 5954.091,400 51,010,879,520 $1,027.318,700 51.012,179,300 5990,355,200 t973,201,300 5975,344,000 $988,593,300
n��d vei� e �ra a
Estimated Mark� Value 26.46% 25.06% 3.00% 2.37% 2.32% 2.26% 2.18% 2.19% 2.19% 2.11%
Per Capita Valuatiw�s
Assessed Value 57,691 $7,844 51,003 $831 i827 5799 5756 t747 5749 $730
Estimated Market Value 529.061 531,299 533,386 S�,OBB 535,563 535.443 534,709 534,167 534.267 534,685
Source: City Assessirp Departmant RecoMs and Flennepin County
(1) The Minnesota Lepislature che�ped the property tax system for ta�oes PeYable in 1989. The tax base of property v� chanped trom assesced velues to tax caPeciry values.
(2) The reductbn in residential values is due to a cha�pe in the state mandated tormula irom proes tax capacity to net tax capacity.
TABLE 5
City of Brooldyn CeMer
DIRECT AND OVERLAPPING TAX RATES AND TAX LEVIES
Last Ten Fiscal Years
TAX RATES IN MILLS (1) Hennepin
School Districts Camty Total Citv. School. and Countv
Year Vo-Tech No.286 No.279 No.281 No.11 Special No.286 No.279 No.281 No.11
Collectible City (2) School Earl Brown Osseo Robbinsdale Anoka DisUicts Earl BroNm Osseo Robbinsdale Anoka
1987 18.167 1 A21 49.640 55.783 56.932 54.926 35.315 104.543 110.686 111.835 108.408
1986 19.237 1.493 59.372 61.859 58.433 62.181 38.405 118.507 120.994 117.568 119.823
TAX RATES IN TAX CAPACITY RATES(2)
1989 14.260 1.223 43.440 54.465 49.189 51.384 32.898 91.821 102.846 97.570 98.542
1990 17.479 1.103 42.099 57.847 54.516 47.893 33.547 94.228 109.976 106.645 98.919
1991 19.208 1.046 46.207 58.643 55.540 51.779 37.479 103.940 116.376 113.273 108.466
1992 20.922 0.513 54.696 65.766 58.723 56.525 40.888 117.019 128.089 121.046 118.335
1993 23.969 1.095 67.008 64.948 61.807 63.717 42.457 134.529 132.469 129.328 130.143
1994 27.603 0.809 56.614 66.786 64.401 57.161 44.248 128.701 138.873 136.488 128.439
1995 31.090 76.861 70.142 67.197 61.402 45.370 151.763 145.044 142.099 136.304
1996 30.344 58.682 67.155 64.762 64.387 44.170 133.196 141.669 139.276 138.901
TAX LEVIES IN DOLLARS School Districts Hennepin
County Total City,
Year VaTech No.286 No.279 No.281 No.11 Special Schools,
Collectible Ciry (2) School Ea�l Brown Osseo Robbinsdale Anoka Districts and County
1987 53,396,789 $293,194 33,900,388 53,409,323 a3,726,934 a1,327,348 a8,088,560 524,142,536
1988 3,576,812 307,506 4,602,806 3,782,157 3,875,906 1,537,601 8,862,771 26,545,559
1989 3,505,850 293,205 4,059,518 3,770,603 3,791,546 2,179,665 8,776,213 26,376,600
1990 4,092,978 244,258 3,718,102 3,171,054 4,028,724 1,099,641 8,052,590 24,407,347
1991 4,670,606 234,927 4,169,240 3,266,615 4,365,729 1,207,395 8,992,605 26,907,117
1992 5,072,385 123,029 4,596,776 3,516,409 4,444,416 1,293,144 8,344,678 27,390,837
1993 5,491,707 218,460 5,173,925 3,289,896 4,842,750 1,354,534 8,877,060 29,248,332
1994 5,857,342 166,681 4,175,027 3,472,013 4,526,288 1,287,264 9,384,582 28,869,197
1995 6,501,197 5,367,479 3,288,144 4,814,025 1,269,585 8,557,035 29,797,465
1996 56,495�206 34,850,400 53�863,698 34�397,705 51,441,657 a9�403,100 S3U�451,766
Source: City Community DevebpmeM Department Records a�d Hennepin County
(1) The tax base o( property viras changed from assessed values to tax capacity values by the Minnesota Legislature in 1989.
(2) Tax levy inciudes Broold�m Center E.DA. and H.R,A..
I
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i
TABLE 6
City of Brooklyn Center
SPECIAL ASSESSMENT BILLINGS AND COLLECTIONS
Last Ten Fiscal Years
Percent
Current Collecctions Total
Special Percent Collection Collections
Year Assessment of of Prior Total to Current
Collected Billin�s Amount Billinas Years Collections Levy
1987 $572,851 $552,168 96.39°k $3,139 $555,307 96.94%
1988 556,028 526,594 94.71 °k 2,723 529,317 95.20%
1989 562,484 545,242 96.93% 59,944 605,186 107.59%
1990 504,682 476,874 94.49°�(0 14,327 491,201 97.33%
i-`�• 1991 612,744 595,362 97.16% 23,135 618,497 100.94%
N
1992 558,265 533,439 95.55% 13,801 547,240 98.03%
1993 488,163 469,814 96.24°k 21,188 491,002 100.58°k
1994 466,784 444,670 95.26% 7,592 452,262 96.89%
1995 476,852 458,439 96.14°k 5,497 463,936 97.29%
1996 $485,019 $459,316 94.70°�6 $4,617 $463,933 95.65°k
Source: City Finance Department Records
TABLE 7
City of Brooklyn Center
RATIO OF NET BONDED DEBT TO ASSESSED VALUE AND NET BONDED DEBT PER CAPITA
Last Ten Fiscal Years
Less: Ratio of Net Net
Gross Amounts Net Bonded Debt Bonded
Fiscal Estimated Assessed Bonded in Debt Bonded to Assessed Debt Per
Year Population Value Debt (1) Service Fund Debt Values Capita
1987 29,759 S228,875,794 51,740,000 5683,294 51,056,706 0.46°� 35.51
1988 29,420 230,771,44'1 1,440,000 751,408 688,592 0.30°,6 23.41
Less: Ratio of Net Net
Tax Gross Amounts Net Bonded Debt to Bonded
Fiscal Estimated Capacity Bonded in Debt Bonded Tax Capacity Debt Per
Year Population Value Debt (1) Service Fund Debt Value Capita
w 1989 28,578 28,657,382 1,130,000 274,843 855,157 2.98°�6 29.92
1990 28,810 23,943,879 950,000 448,846 501,154 2.09% 17.40
1991 28,887 23,875,227 610,000 486,205 123,795 0.52% 4.29
1992 28,558 22,825,696 310,000 504,146 1194,146) -0.85°�6 (6.79)
1993 28,533 21,563,017 0.00°k
1994 28,484 21,277,190 0.00°6
1995 28,463 21,317,771 0.00°�
1996 28,502 520,815,317 0.00%
Source: City Finance Department Records and Hennepin County
(1► Amount does not include tax increment, state aid street, speciat assessment, or revenue bonds.
r �s �r �r �w �r �r �r a� r �■�r it �■r
Table 8
City of Brooklyn Center
COMPUTATION OF LEGAL DEBT MARGIN
December 31, 1996
Market Value $988,593,300
Debt limit, 2% of market value 19,771,866
Total bonded debt 20,250,000
Deductions (See Note 6):
A. Bonds:
1. Special Assessment Bonds 3,030,000
2. State Aid Street Bonds 2,295,000
3. Tax Increment Bonds 13,205,000
4. Utility Revenue Bonds 1,720,000
Total Deductions 20,250,000
Total Debt Applicable to Debt Limit 0
Legal Debt Margin, December 31, 1996 $19,771,866
Source: City Finance and Community Development Records
114
TABLE 9
City of Brooklyn Center
COMPUTATION OF DIRECT AND OVERtAPPING DEBT
December 31, 1996
City's Sh
Governmental Unit Gross Debt Sinking Funds Net Debt Percent Amount
Direct Debt: City of Brooklyn Center (1) $0 $0 $0 100.0% $0
Overlapping Debt:
School Districts:
No.281 Robbinsdale 0 0 0 7.9596 0
No.11 Anoka 141,687,792 35,093,431 106,594,361 5.90% 6,289,067
No.279 Osseo 137,185,000 23,774,251 113,410,749 5.78% 6,555,141
No. 286 Earl Brown 4,400,000 4,400,000 0 100.00% 0
Metropolitan Council 110,525,000 49,444,954 61,080,046 1.0196 616,908
Hennepin County 67,030,000 6,125,572 60,904,428 1.75% 1,065,827
Hennepin County Park Reserve District 13,940,000 2,324,096 11,615,904 2.3896 276,459
v+ Total Overla Debt 474,767,792 121,162,304 353,605,488 14,803,403
Total Direct and Overlapping Debt $474,767,792 $121,162,304 $353,60 $14,803,403
Source: City Finance Depa�tment Records, Hennepin County, and I.S.D. 11, Anoka
(1) Includes only general obligation debt which is being repaid through property taxes.
Direct Ove�lapping
Com�arative Net Debt Ratios Charoeable to Citv Total Debt Debt
Debt to tax capacity value $20,815,317 71.12% 0.00% 71.12°k
Debt to market value $988,593,300 1.50% 0.00% 1.50%
Per capita debt, population 28,502 $519.38 $0.00 $599.38
i �■r r a� �r r
TABLE10
City of Brooklyn Center
RATIO OF ANNUAL DEBT SERVICE EXPENDITURES FOR GENERAL
BONDED DEBT TO TOTAL GENERAL FUND EXPENDITURES
Last Ten Fiscal Years
Debt Service
Total Total as a Percent
Debt General Fund of General
Year Principal Interest Service Expenditures Expenditures
1987(1) $2,475,000 $930,252 $3,405,252 $7,649,436 44.52%
1988 640,000 682,561 1,322,561 8,502,109 15.56%
1989 635,000 626,068 1,261,068 9,062,571 13.92%
1990 530, 000 585, 992 1,115, 992 9,434, 517 11.83%
1991 940,000 746,401 1,686,401 9,935,441 16.97%
1992(2) 1,880,000 1,195,204 3,075,204 9,690,274 31.73%
1993 1,710,000 1,186,585 2,896,585 9,707,525 29.84%
r 1994 780,000 1,080,555 1,860,555 9,942,058 18.71%
1995 825,000 1,075,976 1,900,976 10, 559,497 18.00°l0
1996(3) $5,125,000 $1,106,661 $6,231,661 $10,908,340 57.13%
Source: Ci Finance De artment Records
tY P
(1) Amounts for 1987 are higher because of the issuance of Refunding
Bonds of 1987 and the defeasance of Improvement Bonds of 1982.
(2) Amounts for 1992 are higher because Tax Increment Bonds of 1983
were called for payment prior to maturity.
(3) Amounts for 1996 are higher because of the defeasance of the Tax
Increment Bonds of 1985.
116
TABLE 11
City of Brooklyn Center
SCHEDULE OF REVENUE BOND COVERAGE
Last Ten Fiscal Years
Net
Non- Net Revenue
Operating Operating Gross Revenue to Debt
Year Revenue Revenue Revenue Expenses(1) Available Principal Interest Total Service
Water Utilitv Fund
1987 $556,222 $412,653 $968,875 $489,374 $479,501 $45,000 $10,786 $55,786 8.595 :1
1988 694,654 375,061 1,069,715 695,395 374,320 45,000 8,889 53,889 6.946 :1
1989 687,982 425,030 1,113,012 665,629 447,383 45,000 7,180 52,180 8.574 :1
1990 696,147 440,644 1,136,791 604,497 532,294 45,000 5,425 50,425 10.556 :1
1991 703,422 390,421 1,093,843 697,108 396,735 45,000 3,695 48,695 8.147 :1
1992 896,857 316,551 1,213,408 762,405 451,003 45,000 1,940 46,940 9.608 :1
1993 848,134 311,781 1,159,915 659,099 500,816 0 0 0 N/A
1994 1,053,689 284,169 1,337,858 720,973 616,885 0 0 0 N/A
1995 1,048,834 302,136 1,350,970 813,157 537,813 0 0 0 WA
1996 $1,145,040 $281,364 $1,426,404 $759,171 $667,233 $0 $0 $0 N/A
Storm Drainaae Fund (2�
1991 $374,040 $2,628 $376,668 $164,767 $211,901 $0 $0 $0 N/A
1992 494,456 14,030 508,486 207,427 301,059 0 0 0 N/A
1993 639,837 28,138 667,975 160,044 507,931 0 0 0 N/A
'1994 685,011 39,930 724,941 211,425 513,516 0 30,208 30,208 17.00 :1
1995 788,897 72,881 861,778 184,990 676,788 0 90,925 90,925 7.44 :1
1996 $822,980 $47,363 $870,343 $204,969 $665,374 $110,000 $86,690 $196,690 3.38 :1
Source: City Finance Department Records
(1) Excludes depreciation and interest on bonds.
(2) The Storm Drainage Fund was estabiished in 1991.
r i r �r �r a� r r
r r
TABLE 12
City of Brooklyn Center
PROPERTY VALUE, CONSTRUCTION AND BANK DEPOSITS
Last Ten Fiscal Years
Commercial Residential
Constrvction Construction Property Value
Bank
Year Value Units Value Commercial Residential Non-Taxable Deposits
1987 $7,220,527 9 $885,202 $246,784,100 $608,890,900 $92,384,868 N/A
1988 5,084,601 66 3,073,500 286,096,300 634,230,700 89,745,168 N/A
1989 7,288,205 4 278,138 321,452,800 678,898,700 83,719,768 $219,077,986
1990 5,750,567 1 65,249 333,967,220 676,912,300 83,719,768 202,261,488
1991 4,719,147 7 450,745 339,358,500 677,299,800 87,479,168 201,944,156
1992 5,547,668 14 948,810 344,860,700 667,318,600 107,747,100 199,800,971
1993 7,598,108 7 505,000 322,295,300 668,059,900 108,955,700 200,539,494
1994 5,504,477 9 587,000 301,702,300 671,499,000 109,600,200 197,886,000
1995 9,541,847 2 153,000 297,268,000 678,076,000 110,458,200 $255,238,839
1996 $12,527,095 18 $1,126,000 $284,786,600 $703,806,700 $108,473,400 N/A
Source: City Finance Department Records, Communily Development Department Records, and Local Banks.
TABLEI3
City of Brooklyn Center
PRINCIPAL TAXPAYERS
December 31, 1996
Percentage
1996 of Total
Market City Market
Taxpayers Type of Business Valuation Value
Equitable Real Estate Shopping Center $35,264,900 3.57%
Dayton-Hudson Corp. Department Stores 24,123,700 2.44%
Lang-Nelson Apartments 16,470,000 1.67%
Prudential Insurance Co. Office/Retail 15,446,800 1.56%
Ryan Construction Office/Retail 14,796,300 1.50%
Bradley Real Estate Inc. Office 8,850,000 0.90%
Sears Roebeck and Co. Department Store 7,810,000 0.79%
First Industrial Realty Trust Industrial 6,961,200 0.70%
Normandale Tennis Club Health Club 6,232,100 0.63%
SSMRT Mpls. Industrial Industrial 5,050,500 0.51
Total Market Value $141,005,500 14.26%
TOTAL CITY MARKET VALUE $988 593 300
i
Source: City Community Development Records
119
City of Brooklyn Center Tabie 14
SCHEDULE OF INSURANCE COVERAGE (Continued next page)
Effective January 1, 1997
Policy Period
Twe of Coveraae and Details From To Liabilily Limits
I. Statutorv Liabilitv to Em la ovees
a. Workers' Compensation 01-01-97 01-01-98 Statutory
(participant in the League of
Minnesota Cities Insurance Trust Self-
Insured Workers' Compensation Program)
II. Liabilitv to the Public
a. Comprehensive general liability include the following additional coverages:
(a) All employees as additional insureds
(b) Personal injury coverage to include false arrest, libel, slander, wrongful
entry or eviction or invasion of right of privacy.
(c) Broad contractual liability
(d) Products liability
(e) Public Officials' liability
(1) Bodily injury 01-01-97 01-01-98 $600,000 combined single limit
(2) Property damage 01-01-97 01-01-98 $600,000 combined single limit
(3) Personal injury 01-01-97 01-01-98 $600,000 combined single limit
b. Automobile liability,
comprehensive 01-01-97 01-01-98
(1) Bodiy injury $600,000 occurrence
(2) Property damage $600,000 occurrence
(3) Uninsured motorist $600,000 occurrence
c. Liquor stores' dram shop 01-01-97 01-01-98 $1,000,000 each common
cause
d. Golf Course and Cer�tral Park 04-01-97 10-31-98 $1,000,000 each common
liquor liability cause
e. Personal accident, Volunteers 01-01-97 01-01-98 $100,000 accidental death
$400/week short term disability
$1,000 Medical
120
City of Brooklyn Center Table 14
SCHEDULE OF INSURANCE COVERAGE (Continued from prior page)
Effective January 1, 1997
Buildings
and Policy Period Structures Content:
(Replacement (Replacement
Type of Cove�age and Details From To Cost) Cost)
III. Insurance on Cit�r Property 01-01-97 01-01-98
a. Public and institutional
property, all risk, blanket
$34,748,000; $1,000 deductible
replacement value on buildings.
(1) Civic Center $8,389,000 $1,199,000
(2) East Fire Station $722,000 $157,000
(3) Municipal Service Garage $2,461,000 $564,000
(4) Elevated Water Towers 3 locations $3,872,000 $0
(5) Park Shelter Buildings -17 locations $1,619,000 $57,000
(6) Pump Houses -10 locations $1,000,000 $110,000
(7) Lift Stations -10 locations $1,170,000 $72,000
(8) Meter Station $18,000 $0
(9) Storage Building $446,000 $25,000
(10) Outdoor lighting systems 7 locations $320,000 $0
(11) Liquor Store and Fire Station $598,000 $336,000
(12) Humboldt Liquor Store $264,000 $183,000
(13) Leased Liquor Store $53,000 $183,000
(15) Pedestrian Bridge 2 locations $1,198,000 $0
(16) Picnic Shelter $60,000 $0
(17) Earle Brown Heritage Center $7,724,000 $1,488,000
(18) Centerbrook Golf Course Club House $348,000 $25,000
(19) Centerbrook Golf Course Garage $38,000 $8,000
(20) Lions Park Concession Stand $38,000 $3,000
Liability Limits
b. Boiler and machinery 01-01-97 01-01-98 $5,000,000 per accident
c. Automotive physical damage 01-01-97 01-01-98
(1) Comprehensive ACV $1,000 deductible
(2) Collision ACV $1,000 deductible
IV. Criminal Acts
a. Faithful performance blanket position $500,000 per loss
b. Money and securities (broad form) Various
c. Depositor's forgery $100,000
121
TABLE 15
City of Brooklyn Center
DEMOGRAPHIC STATISTICS
Last Ten Fiscal Years
School Enrollments (2)
Mpls-St.Paul No. 286
Fiscal Unemployment C.P.I. No.11 No.279 No.281 Earle
Year Population Rate (1) %(1) Anoka Osseo Robbinsdale Brown
1987 29,759 4.1% 3.0% 989 1,674 570 1,376
1988 29,420 3.5% 5.0% 989 1,674 563 1,456
1989 28,578 3.5% 4.1% 671 1,674 563 1,652
1990 28,810 3.2% 4.1 642 1,616 540 1,747
1991 28,887 4.6% 2.3% 807 1,680 521 1,327
1992 28,558 4.4% 1.4% 671 1,178 526 1,709
1993 28,533 4.3% 2.7% 691 1,106 540 1,685
1994 28,484 2.6% 2.7% 661 1,071 577 1,681
1995 28,463 2.9% 2.8% 664 1,113 567 1,645
1996 28,502 4.0% 3.3% 670 1,109 549 1,672
(1) Minnesota Department of Jobs and Training, Research and Statistics Dept.
Twin Cities metro area average for year.
(2) School enrollment data was supplied by the schools.
122
TABLE 16
City of Brooklyn Center (Continued
MISCELLANEOUS STATISTICAL FACTS next page)
December 31, 1996
Date of Incorporation February 14, 1911
Date of Adoption of City Charter November 8, 1966
Date City Charter Effective December 8, 1966
Form of Govemment Council-Manager
Fiscal Year Begins January 1
Area of City 8 1/2 square miles
Miles of Streets:
City 105.69
County 6.49
State 10.79
Miles of Storm Sewers 41.13
Number of Street Lights: Owned by N.S.P 908
Owned by City 102
Building Permits: Number Estimated
Issued Cost
1996 607 $16,647,400
1995 603 11,948,205
1994 607 13,418,453
1993 520 11,437,250
1992 573 14,286,465
1991 466 8,800,980
1990 504 8,035,605
1989 526 19,217,696
1988 554 10,846,987
1987 573 10,421,724
City Employees as of December 31, 1996
Regular full-time 151
Temporary or part-time 156
Total 307
Fire Protection:
Number of Stations 2
Number of Full-time Employees 1
Number of Volunteer Firefighters 32
Police Protection:
Number of Stations 1
Number of Full-time Employees 58
Number of Part-time Employees 15
123
City of Brooklyn Center TABLE 16
MISCELLANEOUS STATISTICAL FACTS (Continued from
December 31, 1996 prior page)
Parks and Recreation:
Park property totals 522 acres developed to serve a wide variety of
recreational interests. Area include playlots, playgrounds, pla�elds,
trails, nature areas and an arboretum.
Playgrounds 7
Park shelters 17
Ice skating rinks 7
Hockey rinks 5
Softbaft diamonds 26
Baseball diamonds 6
Tennis courts 18
Basketball courts 15
Municipal Water Plant:
Number of connections 8,922
Average daily consumption in gallons 3,806,759
Peak daily consumption in gallons 7,989,000
Plant capacity gallons per day 17,652,000
Miles of water mains 114.45
Number of fire hydrants 955
Number of wells 9
Number of elevated reservoirs 3
Storage capacity in gallons 3,000,000
Water rate per thousand gallons $0.89
Municipal Sewer Plant:
Number of connections 8,805
Miles of sanitary sewer 104.98
Daily disposal capacity in gallons 10,938,240
Number of lift stations 10
Residential rate per quarter $43.75
Municipal Liquor Stores (Off-sale):
Number of owned stores 2
Number of leased stores 1
1996 sales $2,850,307
Elections:
Last Gene�ai Election November 5, 1996
Registered voters 18,333
Votes cast 13,185
Percentage of registered voters voting 72°k
Last Municipal Election 1996
Registered voters 18,333
Votes cast 13,185
Percentage of registered voters voting 72%
124