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HomeMy WebLinkAboutCAFR-1984 1 COMPREHENSIVE AN N UAL AUDITED FINANCIAL REPORT of the CITY MANAGER of BROOKLYN CENTER, MINNESOTA For The Year Ended December 31, 1984 GERALD G. SPLINTER, CITY MANAGER I Prepared by THE DEPARTMENT OF FINANCE Paul W. Holmlund, Director (Member of Government Finance Officers Association of the United States and Canada) Cit.y of Brooklyn Center COMPREHENSIVE ANNUAL FINANCIAL REPORT Year Ended December 31 1984 TABLE OF CONTENTS Exhibit Page Number Number IN'TRODUCTORY SECTION Title Page Table of Contents Listing of City Officials 1 2 Organization Chart 3 Location Map of City Properties 4 City Manager's Letter 5- 6 Finance Director's Letter 7- 17 Certificate of Conformance 18 19 FINANCIAL SECTION Auditor's Opinion 20 Combined Statements Overview: Combined Balance Sheet All Fund Types and Account Groups 1 21 22 1 Combined Statement of Revenues, Expenditures and Changes in Fund Balances All Governmental Fund Types 2 23 Combined Statement of Revenues, Expenditures and Changes in Fund Balances Budget (GAAP Basis) And Actual General and Special Revenue Funds 3 24 Combined Statement of Revenues, Expenses and Changes in Retained Earnings Proprietary Funds 4 25 Combined Statement of Changes in Financial Position Proprietary Funds 5 26 27 Notes to Financial Statements 28 48 City of Brookl,yn Center COMPREHENSIVE ANNUAL FINANCIAL REPORT Year Ended December 31 1984 TABLE OF CONTENTS r Statement/ Schedule Page Number Number Combining and Individual Fund Financial Statements: General Fund: Comparative Balance Sheet A-1 49 Statement of Revenues, Expenditures and Changes in Fund Balance Budget (GAAP Basis) and Actual A-2 50 Schedule of Revenue Budget and Actual Objective Classification S-1 51 53 Schedule of Expenditures Compared to Budget (GAAP Basis) S-2 54 58 Special Revenue Funds: Combining Balance Sheet B-1 59 Combining Statement of Revenues, Expendi�ures and Changes in Fund Balances B-2 60 62 Debt Service Funds: Combining Balance Sheet C-1 63 Combinin Statement of Revenues, Expenditures g and Changes in Fund Balances C- 64 Capital Projects Funds: Combinin Balance Sheet D-1 g 65 Combining Statement of Revenues, Expenditures and Changes in Fund Balances D-2 66 Project-Length Schedule of Construction Projects Capital Projects Fund S-3 67 Project-Length Schedule of Construction Projects Municipal State Aid Construction Fund S-4 68 City of Brooklyn Center COMPREHENSIVE ANNUAL r REPORT Year Ended December 31, 1984 TABLE OF CONTENTS r Statement/ Schedule Page Number Number Special Assessment Funds: Combining Balance Sheet E- 69 70 Combining Statement of Revenues, Expenditures and Changes in Fund Balances E-2 71 Project-Length Schedule of Construction Pro jects S- 72 Enterprise Funds: Combining Balance Sheet F-1 73 74 Combining Statement of Revenues, Expenses and Changes in Retained Earnings F-2 75 Combining Statement of Changes in Financial Position F 76 77 Statement of Operations Municipal Liquor Fund F-4 78 Statement of Operating Expenses Municipal Liquor Fund F-5 79 Balance Sheet Public Utilities Fund F-6 80 81 Statement of Operations and Changes in Retained Earnings Public Utilities Fund F-7 82 Water Operating Expense Public Utilities Fund F-8 83 Sewer Operating Expense Public Utilities Fund F- 84 Agency Funds: Combining Statement of Changes in Assets and Liabilities All Agency Funds G-1 85 i f B kl n Center C t. y o r o o y COMPREHENSIVE ANNUAL FINANCIAL REPORT Year Ended December 31 1984 TABLE OF CONTENTS Statement/ Schedule Page Number Number General Fixed Asset Account Group: Schedule of Changes in General Fixed Assets And Sources H-1 86 ts B Schedule of General Fixed Asse y Function and Activity H-2 87 Schedule of Changes in General Fixed Assets By Function and Activity H-3 88 General Long-Term Debt Account Group: Comparative Schedule of General Long-Term Debt I 89 STATISTICAL SECTION Table Number General Governmental Expenditures by Function Last Ten Years 1 90 Revenue Other Than Special Assessments Last Ten Years 2 91 Tax Levies and Tax Collections Last Ten Years 3 92 Assessed Value and Market Value of All Taxable Property Last Ten Years 4 93 Tax Rates and Tax Levies Last Ten Years 5 94 Special Assessment Collections Last Ten Years 6 95 Ratio of Net Bonded Debt t• Assesse� V alue and Net Bonded Debt Per Capita Last Ten Y.ears 7 96 City of Brooklyn Center COMPREHENSIVE ANNUAL FINANCIAL REPORT Year Ended December 31, 1984 TABLE OF CONTENTS Table Page Number Number Statement of Legal Debt Margins 8 97 9$ Computation of Direct and Overlapping Debt 9 99 Ratio of Annual Debt Service Expenditures for General Bonded Debt to Total General Expenditures 10 100 Schedule of Revenue Bond Coverage Last Ten Years 11 101 Property Value and Construction Last Ten Years 12 102 Principal Taxpayers 13 103 5ummary of Debt Service Requirements to Maturity 14 104 u e of Insurance Covera e 15 105-106 Sched 1 g Schedule of Cash and Temporary Cash Investments 16 107 Miscellaneous Statistical Facts 108-110 I r City of Brookl.yn Center LISTING OF CITY OFFICIALS For the Year Ended December 31, 1984 ELECTED OFFICIALS Term of Office Term Expires ars 12 31/$5 Mayor Dean Nyquist Two Ye Councilman Rich Theis Three Years 12/31/87 Councilman Bill Hawes Three Years 12/31/87 Councilman Gene Lhotka Three Years 12/31/85 Councilwoman Celia Scott Three Years 12/3�/86 OFFICIALS NOT ELECTED City Manager Gerald G. Splinter City Clerk Gerald G. Splinter City Treasurer Paul W. Holmlund City Attorney Richard Schieffer Department Heads: Finance Paul W. Holmlund Public Works Sy Knapp Police James Lindsay Fire Ronald Boman Planning and Inspection Ronald Warren Park and Recreation Eugene Hagel Assessment Peter Koole Liquor Stores Gerald Olson Deputy City Clerk/Personnel Coordinator Thomas Bublitz Housing/Purchasing Coordinator Brad Hoffman City Engineer James Grube Street and Park Superintendent Henry Davis Recreation Superintendent Arnold Mavis Health Officer Duane Orn, M.D. Fire Marshall Gerald Pedlar Sanitarian Thomas Heenan Civil Defense Coordinator James Lindsay I CitY of Brooklyn Center LISTING OF CITY OFFICIALS At M� 31 1985 ELECTED OFFICIALS Term of Office Term Expires Mayor Dean Nyquist Two Years 12/31/85 Councilman Rich Theis Three Years 12/31/87 Councilman Bill Hawes Three Years 12/31/87 Councilman Gene Lhotka Three Years 12/3�/85 Councilwoman Celia Scott Three Years 12/31/86 OFFICIALS NOT ELECTED City Manager Gerald G. Splinter City Clerk Gerald G. Splinter City Treasurer Paul W. Holmlund City Attorney Richard Schieffer Department Heads: Finance Paul W. Holmlund Public Works Sy Knapp Police James Lindsay Fire Ronald Boman Planning and Inspection Ronald Warren Recreation Arnold Mavis Assessments Peter Koole Liquor Stores Gerald Olson Deputy City Clerk/Personnel Coordinator Thomas Bublitz Housing/Purchasing Coordinator Brad Hoffman City Engineer James Grube Street and Park Su rintendent Henr Davis P e Y Duane Orn M.D. Health Officer Fire Marshall Gerald Pedlar Sanitarian Thomas Heenan Civil Defense Coordinator James Lindsay _2_ r ORGANIZATION CHART COUNCIL MANAGER PLAN City of Brooklyn Center, Minnesota ADVISORY ELECI!�RATE CfIARTER COAM�IISSION Capital Improvement Review Board ti AI)VISORY Housing Commission CITY COUNCIL CITY ATI'ORNEY ADVISORY Human Rights Comnission ADVISORY ADNIINISTRATIVE ASSISTANT CITY MANAGER �xrchasing Officer Parks and Recreation Comnission Housing Coordinator J ADVISORY Planning Coamission ADMINISTRATIVE ASSISTANT DIRECI'OR i Etner nc �Puty Clerk i' Preparedness Persoruzel Coordinator I 1 I DIRECI'OR DIRECI'OR CHIEF DIRECTOR DIRECI'OR CfiIEF MAIVAGER DI RECPOR ASSESSOR Planning Finance Poiiee of of Volunteer Liquor Public Tax �d Department Depart- E�vironmental Recreation Fire Store Works I�ssessment Inspection City ment Health Department Degartment Degartment Department Treasurer J a J Park Government F�gineering Street Public Maintenance Buildings Division Division Utilities i Y y Y� i� i+; t f����� i����� F 5 i i q� f 5� i( i g I i s��� i i F s�, �t ri d� 9t yi �i i� �S :i �t rs it �t ;s �i €t �f i �F �t �t €P e� E� 9� `s 6�` I A U�1 B c IL _-JL� J �I.-,�� l�o, D E I �L�' �F�� aqao.�._ J i __r__ �w i r r l T. i a L; T�. .E. ..E I t I a 'y d tl 't a i ,�."L.4� ry l J ``h„ =1 �S��j 4 r, 4 r ,,,r.� Y o ,�r.�. ti _a� s _LJ i s 1 fM i 1�,-.—�- 8 s �oo �0� �.-�K N w t i '1 J O w j ir a�� y u w._. 000� 5 a� a i ��f��(� k[ E i �b' i 1 ...1--s,� �.iu��-� ���r n 1 1 1 v l I �'l; L� I r�i�. R. 1 1 i Y r I �O� Y I i" ��ao� o ,6 oa i I r G ,�:,s.,. a i �_�—j' ��...R. ill�'""J �I �f�YII���C �.'V���,�.�'"��ti h�' L_�` t s �J �i�l� �l �-���D��C i�, _a0000 ¢Y r��o �4 o..... w� rrx i i �H 0 f ��L��o_ �,�-�r oaaoos� .�K. 4 L w cc��oaaooa� �s c �C a 4� ���L������� x y .n.�. LOC�L 3TREET �Y� 4 ��ao�a :�oo� INOE% e •q .'a 5 oo X a��� �a�o�o TM_. F r,�; t .i a �T�,�N r—�� p ;i �J' LAKE I� ��,I ��i�� I I ��q 1 I. i�j i �un c �.��LJ��� ���ii I� o� r,� e a l �I �I r i� J�u�.o.K. --n-- i I �'�I�,� I J�>,..�. I'' 1 H R 0 �0 K L i �...K. .'�i r,��, CE� TER y �E� i�], IMDOIEI �p.i!'L,lllll6l�. u 1 �����c Ja 'tiO1is I 1 I nw�+ I ��I'�i A �l l �.�.s—� /%�`7 J r— �l'°,. ��4 �j��� f�rmk uucE P" Yi, t J a i p� O B 50 t E �o` l _"4 al TWIN I. �L 'Y 1 ��KE n/ }L U VV ��I CITY GENERAL PROPERTIES A. Civic Ce�te� (City Hall Community Center) 8. West Fire Station Liquor Store No. 2 C. East Fi.e Station P/�(;�( $YSTEM �EY D. Liquor Store No. 1 ILeased Property) E. Liquor Store No. 3 (Leased Propertyl 1. Witlow Lane Park 13. Grandview Park F, City Maintenance Building 2, Orchard LanB Park 14. Evergreen Park G. City Maintena�ce Annex 3. Kylawn Park 15. Bellvue Perk H. Well No. 6, 1207 69th Avenue NorM 4. Lakeside Psrk 16. Marlin Park I. Well No. 7. 7230 Camden Ave�ue North b. Brooklsne Park 17. Firehouse Park J. Water Tower No. 1 6. Wanpstsd Park 18. Riverdale Park K. Water 7ower No, 2 7. NortMport Park 19, freeway Pa�k L. Water Tower No. 3 8. HappY Hallow Park 20. Arboretum M. Lift Station No. 1, 6112 Vincent Avenue North 9. Pslmer Lake Park 21. River Ridpe Park (Miss. Rivar) N. Lrft Scation No. 2, 5450 Lyndale Avenue North 10. Ga�den City Park (State Ownedl O. Fumre Water Treatment a�d Maintenance Annex 11. Central Park Z2, Twin Lake Beach Park P. Vacant 12. Lions Park �City State Ownedl Q. Old City Haq Site (Vacant) -4- CITY OF 6301 SHINGLE CREEK PARKWAY B ROOKLYN BROOKLYN CENTER, MINNESOTA 55430 TELEPHONE 561-5440 CENTE R 1 May 20, 1985 HONORABLE MAYOR AND MEMBERS OF CITY COUNCIL CITY OF BROOKLYN CENTER In accordance with State Statutes and Section 7.12 of the City Char- ter, I hereby transmit the comprehensive Annual Audited Financial Report of the City of Brooklyn Center as of December 31, 1984 and for the fisca 1 year then ended. Responsibi 1 ity for both the accuracy of the presented�data and the completeness and fairness of the presenta- tion, including all disclosures, rests with the City. Management believes that the data as presented is accurate in all material aspects; that it is presented in a manner designed to fairly set forth the financial position and results of operations of the City as measured by the financial activity of its various funds; and that all disclosures necessary to enable the reader to gain the maximum under- standing of the City's financial affairs have been included. In developing and evaluating the City�s accounting system, considera- tion is given to the adequacy of internal accounting controls. Internal accounting controls are discussed by the Finance Director in his accompanying letter of transmittal and, within that framework, I believe that the City's internal accounting controls adequately safe- guard assets and provide reasonable assurance of proper recording of financial transactions. 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 Certifi- cates of Conformance to those governments whose Annual Financial Reports are judged to conform substantially with high standards of public financial reporting, including generally accepted accounting principles promulgated by the National Council on Governmental Accounting. It is my belief that the accompanying fiscal year 1984 Financial Report meets program standards, and it will be submitted to the Government Finance Officers Association for review. In accordance with the above mentioned guidelines, the accompanying report consists of three parts: (1) Introductory Section, including the Finance Director's letter of transmittal; (2) Financial Section, including the financial statements and supplemental data of the government, accompanied by our independent auditor's opinion; (3) Statistical Section, including a number of tables of unaudited data depictin the financial histor of the overnment for the ast ten Y g P I ears information on overla in overnments and other miscellaneous Y PP g g information. "'7le .So.Keticiag �Zo�e L'� -5- MAYOR AIJD MEMBERS OF CITY COUNCIL May 20, 1985 State law and the City Charter require that the financial statements of the City of Brooklyn Center be audited by a certified public accountant selected by the City Council. This requirement has been complied with and our auditor's opinion is included in the financial section of this report. Respec�fully submitted, 'I r Gerald G. S 1' er P City Manager i 1 I 1 1 1 -6- CITY OF 6301 SHINGLE CREEK PARKWAY B ROOKLYN BROOKLYN CENTER, MINNESOTA 55430 TELEPHONE 561-5440 CENTER 1 May 15 1985 Mr. Gerald G. Splinter City Manager City of Brooklyn Center Dear Mr. Splinter: The Com rehensive Annual Financial Report of the City of Brooklyn P Center, Minnesota for the year ended December 31 1984 is submitted herewith. I believe the data, as presented, is accurate in all material aspects; that it is presented in a manner designed to fairly set forth the financial position and results of operations of the City as measured by the financial activity of its various funds; and that all disclosures necessary to enable the reader to gain the maximum understanding of the City's financial affairs have been included. THE�REPORT The organization, form and content of this report has been prepared using standards prescribed by theGovernment Finance Officers' Association of the IInited States and Canada, the American Institute of Certified Public Accountants, the Minnesota State Auditor, and the City Charter. The format conforms to the audit guide for Audits of State and Local Governmental Units and to the recent publication, and Financial Re ortin Governmental Accountin Auditin p ORGANIZATION Brooklyn Center was incorporated as a Village on February 14, 1911, and became a City of the second class on December 8, 1966 thirty days from the adoption of the City Charter by a referendum vote of the people. The form of government established by the Charter is the "Council- Manager Plan". The Council exercises the legislative power of the City and determines all matters of policy. The Council is composed of a Mayor and four Council persons who are elected at large. Each Council person serves a term of three years and the Mayor serves a term of two years. The City Manager is the head of the Administrative branch of the City Government and is responsible to the Council for the proper administration of all affairs relating to the City. The City Manager is the chief accounting officer of the City and mus� provide such information about the City as the Council may require. "7lse $osuetlu.cg �l o�ce -7- Mr. Splinter -2- May 15, 1985 The off' ces f Cit Clerk an Cit i o y d y Treasurer are subordinate to, and appointed by, the Ci�y Manager. The City Clerk has duties in connection with the keeping of the public records. The City Treasurer has duties in connection with the receipt, disbursement and custody of pub 1 ic funds. The City Attorney is appointed by the Counci 1. A 1 1 other officers and employees of the City are appointed by the City Manager. Appointment or removal of department heads are made final upon a majority vote of the Council. ACCOUNTING SYSTEM AND BUDGETARY CONTROL In developing and evaluating the City's accounting system, consideration is given to the adequacy of internal accounting controls. Internal accounting controls are designed to provide reasonable, but not absolute, assurance regarding: (1) the safeguarding of assets against loss fromlunauthorized use or disposition; and (2) the reliability of financial records for preparing financial statements and•maintaining accountaba.lity for assets. 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 evaluation of costs and benefits requires estimates and judgements by management. All internal control evaluations occur within the above framework. I believe that the City's internal accounting controls adequately safe- guard assets and provide reasonable assurance of proper recording of financial transactions. A summary of significant accounting policies is contained in Note 1 of the Notes to Financial Statements which can be found in the Financial Section of this report. Accounting for all the City�s activities is centralized under the Department of Finance. The responsibility for maintaining and prescribing all financial records, establishing and maintaining internal control, and preparing financial and budgetary reports is delegated to this department. The City Charter grants the City Council full authority over the financial affairs of the City. The Charter requires that all funds of the City, except funds made up of proceeds of bond issues, public service enterprise funds, and special assessment funds, be budgeted. The City Manager is charged with the responsibility of preparing the estimates of the annual budget and the enforcement of the provisions of the budget as specified in the budget resolution. Upon adoption of the annual budget resolution by the Council, it becomes the formal budget for City operation�. After the budget resolution is adopted, the Council can increase the budget only if actual receipts exceed the estimates, or from accumulated surplus in the amount of an unexpended appropriation from the previous fiscal year. Financial reports, which compare actual performance with the budget, are prepared monthly and presented to the Council so the Council is able to review the financial status and measure, the effectiveness of the budgetary controls. Budget control is maintained by recording encumbrances as purchase orders are written. Open encumbrances are reported as -8- i Mr. Splinter -3- May 15 1985 reservations of fund balance at December 31 1984 since they do not constitute expenditures or liabilities. THE CITY AND ITS SERVICES This report includes all of the funds and account groups of the City. It includes all activities considered by the U.S. Bureau of Census to be part of (controlled by or dependent on) the City. The Housing and Redevelopment Authority (HRA), although governed by Commission members who are also City Council members, is considered by Census to be a separate government because: (1 it is an organized entity; (2) it has governmental character; and (3) it is substantially autonomous. However, audited financial statements for the HRA are included in this report since the City receives and disburses funds for the HRA. Inde- pendent School District Nos. 286 (Earle Brown), 279 (Osseo), 281 (Robbinsdale), and 11 (Anoka) are totally or partially located in Brooklyn Center and provide secondary education services to students within the corporate limits of Brooklyn Center. These independent school districts are governed by their respective school boards; therefore, financial data applicable to them has been excluded from this report. Independent School District No. 287 (Suburban Hennepin County Area Vocational Technical Institute) financial data has also i been excluded for the same reason. State Aid insurance premium tax in the amount of $54,776 and ad valorem taxes in the amount of $32,019 were receipted by the City and disbursed to the Volun�eer Firemen's Relief Association with the City acting in an agency capacity. This report includes all other activities considered to be a part of, and controlled by, the City of Brooklyn Center. The City provides the full range of municipal services contemplated by statute or charter. This includes public safety (police and fire), streets, sanitation, health and social services, culture-recreation, public improvements, planning and zoning, and general administrative services. The City also operates three off-sale liquor stores and a public water and sewer utility. Net revenue produced in excess of working capital requirements by the municipal liquor stores operations have been used toward financing current expense and capital outlay programs of the General Fund. The financial condition of each of the City's funds as of December 31, 1984 and the results of each funds' operations for the year,- together with a comparison of these results to budget estimates and a comparison to the previous years' results, is presented within the Financial Statements Section of this report. a -9- Mr. Splinter -4- May 15 1985 GENERAL GOVERNMENT FUNCTIONS As of December 31, 1984, the fund balance of the General `Fund, which had not been appropriated to a specific expenditure purpose, totaled $3,883,272. This amount represents the working capital that is available to finance the general operations of the City. Revenues and other financing sources used for general governmental operations totaled $6,974,785 in 1984, an increase of $305,490 over the previous year. The following table presents an analysis of major revenue and other financing sources of the General Fund for 1984 and compares them to 1983 Increase 9� of (Decrease) 1984 Total 1983 From 1983 Taxes, Ad Valorem $2,407,352 34.5� $2,133,859 273,493 Intergovernmental revenue 2,524,494 36•2 �,459,133 65,361 Charges for services 919,796 13.2 859,928 59,868 License and permits 296,667 4.3 328,019 (31,352) Court fines 158,823 2•3 154,812 4,011 I Miscellaneous revenue s 201 .8 2 0 0 168 337, 4 47, 33 9, Other sources 330,452 4.7" 486,511 (156,059) TOTAL $6 ,974,785 100.0� $6,669,295 305,490 Actual revenues and other financing sources exceeded the 1984 budgeted amount by $379 ,121. Expenditures and other uses of funds for general government operations totaled $6,167 in 1984 an increase of $560,88g over the.previous year. The following table presents an analysis of major expenditure functions and other uses of funds of the General Fund for 1984 and compares them to 1983: Increase 9� of (Decrease 1984 Total 1983 From 1983 General Government 1 112 1 18.Oo 1 06 8 1 73 054 4 5 09 Public Safety 1,985,108 32.2 1,875,122 109,986 Public Works 1,383,039 22•4 1,288,081 94,95� Community Health 30,437 .5 28,663 1,774 Parks and Recreation 1,319,298 21.4 1,268,907 50,391 Other uses 337,624 5•5 91,953 245,671 TOTAL $6,167,679 100.0� $5,606,790 $560,889 -�o- Mr. Splinter -5- Ma 1 1 8 Y 5, 9 5 Expenditures and other uses of funds were $427 less than the 1984 budgeted amount. Ad valorem tax levies for the current year 1984 and for the two previous years are summarized and presented below: 1984 1983 19g2 Mill Mill Mill Tax Levy Rate Amount Rate Amount Rate Amount City Operations 12.432 $2,544,680 12.473 $2,501,971 12.782 $2,307,841 Debt Redemption 1.828 374,541 1.853 371,841 2.035 368,001 Public Employees' Retirement 2.283 471 ,381 1 .645 329,146 1.580 289,860 TOTAL LEVY 16.543 $3,390,602 15.971 $3,202,958 16.397 $2,965,702 Assessed Valuation 1984 1983 1982 Real estate 202 18 62 1 621 ,4 7 97, ,159 $178,984,374 Non-exempt personal property 4,148,726 3,973,587 4,113,767 Fiscal disparities adjustment (3,366,456) (1,437,243) (2,357,630) TOTAL ASSESSED VALUATION $203,200,897 $200,1�7 $180,740,511 Minnesota's Lev.y Limitation Law was first implemented in 1973 The law placed a limitation on the amount of increased property tax which a city can levy. The amount of increase is generally limited to 8� of the prior year's levy. The law also provides certain mechanisms by which a municipality may adopt levies outside the levy limitations. The following table summarizes the City's compliance with the law for the years 1981 through 1984: 1984 1983 1982 1981 Total tax levy $3,390,602 $3,202,958 $2,965,702 $2,746,020 Less special tax levies 953,673 954,449 314,348 938,957 Limited Levy $2,436,929 $2,248,509 $2,651 $1,807,063 Levy Limitation 3,005,971� 2,537,576 2,721,309 2,026,714 UNDER LEVY LIMITATION 569 ,042 289,067 69 ,955 219 -11- M r. Splinter -6 May 15, 1985 The State Legislature enacted a"Fiscal Disparit.y Law�� in 1 1 wh' was not im lemented until taxes 97 ich p payable in 1975 because of a constitu- tional challenge. The law provides for the "pooling�� of 40� of all new commercial and industrial property valuation in the seven county metropolitan area. Valuation from this "pool" is redistributed to taxing jurisdictions according to specified criteria. The impact of disparity law on the City is shown below. The City has, since the inception of the law eleven years ago, contributed $15 ,069,643 in assessed valuation. The fiscal disparities adjustments for the ele ven years are as follows: Year Assessed Value Net Received Taxes Value Contri- Received Or i Payable buted to "Pool° From '�Pool° (Contributed) 1 2 2 1 975 ,355, 4 2,816,222 460,981 1976 3,746,879 3,880,301 133,422 1977 3,726,462 3,525,256 (201,206) 1978 4,856,260 3,666,177 (1,190,083) 1979 6,172,992 4,708,800 (1,464,192) 1980 8,086,801 6,254,605 (1,832,196) �98� 9,523,651 7,842,824 (1,680,827) 1982 13,677,348 11 ,319,718 (2,357,630) 1983 16,832,813 15,395,570 (1,437,243) 1984 21,050,949 17,684,493 (3,366,456) 1g85 22,406,979 20,272,766 (2,134,213) 11 YEAR TOTAL $112, 436,375 97,366,732 $(15,069,643) The comp lete reporting of the Genera 1 Fund financia 1 operations and position can be found in the General Fund Section of this report. -12- Mr. Splinter -7- May 15, 1985 DEBT ADMINISTRATION The ratio of net bonded debt to assessed valuation and the amount of bonded debt per capita are useful indicators of the City's debt position to municipal management, citizens, and investors. These data for the City at December 31, 1984, were as follows: Ratio of Debt to Ratio of Debt to Assessed Value Present Debt Per Amount of Present Market Market Value Capita Net direct bonded debt $3,078,960 1.479� •39% 99•90 Outstanding general obligation bonds at December 31 1984 totaled $6,680,000, of which $3,205,000 was issued to provide permanent financing for water, sanitary sewer, storm sewer and streets. The repayment of these bonds is provided from the proceeds of special assessments levied against the benefited property. Included also in the outstanding G.O. Bonds were $420,000 of G.O. State Aid Street Bonds which were issued to finance state aid projects and are repaid from state allotments. Included also were $930,000 of G.O. Tax Increment Bonds which were issued to finance the public costs involved in the development costs of a housing development project and are repaid from incremental taxes from the City's Tax Increment Financing District. The remaining $2,125,000 is direct tax supported debt which is repaid by the proceeds of ad valorem tax levies. During the past year, $905 ,000 of general obligation bonds were retired. Outstanding revenue bonds at December 31, 1g84 totaled $360,000. These are bonds issued in 1963 for improvements to the water utility and are repaid from the public utilities revenues. During the past year, $40,000 of revenue bonds were retired. The City has a current Moody's Investors Service bond rating of '�A-1". More detailed information about the debt osition of the Cit can be P Y found in the Statistical Section of this report. CASH MANAGEMENT The Investment Fund was established to provide a uniform and consis- tent means for investing temporary surpluses of individual City Funds. Each individual City Fund invests iri the Investment Fund and that Fund, in turn, invests these temporary surpluses in obligations issued by the United States and its agencies, bank certificates of deposits, repurchase agreements, savings and loan associations' sa vings certifi- cates and City of Brooklyn Center construction notes issued to provide temporary financing for construction in the special assessment funds. -13- Mr. S lint p er -8- May 15, 1985 The avera e ield on investments durin the ear was 11.12 and the g Y g y Fund distributed $2,097 in interest earnings to the participating funds. SPECIAL REVENUE FUNDS Federal General Revenue Sharing was established to provide financial assistance to states and local government. The financial contributions to local governmental units are based on a formula which includes per capita income and local tax effort. During 1984 the City's allocation totaled $160,081 and will be approximately $160,000 in 1985 The City expended $227,818 of general revenue sharing funds in 1984• The reporting of a 11 Specia 1 Re venue Funds� financia 1 operations and position can be found in the Special Revenue Funds' Statements Section of this report. CAPITAL PROJECTS FUNDS The Capital Projects Fund was established to account for monies re- ceived from various sources (including transfers from the LCN1R and the Lawcon and the Community Development Special Revenue Funds) and expended on certain major, permanent facilities. A listing of current capital projects in the Fund can be found in Schedule 5-13 of this report. During 1984 Capital Projects Fund expenditures of $g12,864 were made. The Fund Ba lance at December 31 1984 was $3,189,785• Of this amount, $241,125 was reserved for unexpended appropriations, leaving an unreserved Fund Balance of $2, The Municipal State Aid for Construction Fund was established to account for monies received from the Minnesota Department of Transpor- tation and expended for transportation related construction pro ects. Th�e City expended $10,849 of municipal state aid for constru tion during 1984. The Fund Balance at December 31, 1984 was $3,996,364, of which $g,862 was reserved for unexpended appropriations and $2,100,092 was restricted to State approved projects, lea ving an unreserved Fund Balance of $1,886,410. The reporting of these Funds' financial operations and positions can be found in the Capital Projects Funds' Statements Section of this report. PUBLIC UTILITIES FUND Comparative data for the City�s Public Utilities operations for the past two fiscal years are shown in the following table: -14- Mr. S linter -9- May 15 �985 P 1984 �983 Water Department operating revenue 482�558 443�565 Sewer Department operating revenue 1,087,278 1,035 Water Department operating income (113 (98�828) Sewer Department operating income (109,013) (123,021) Water Department net income 367,117 349,$$7 Sewer Department net income 221,649 127,803 Water customers at year end 8,624 8,470 Sewer customers at year end 8,701 8,48� The Public Utilities operating revenues are to be used to finance system maintenance and future expansion and improvements. The complete reporting of the Public Utilities' financial operations and position can be found in the Enterprise Funds' Statements Section of this report. LIQUOR STORES FUND The City's three municipal off-sale liquor stores earned a combined net profit of $113 for the calendar year ended December 31, 1g84- The Liquor Fund transferred $100,000 during the year to the General Fund to assist in the financing of City operating expenses. A condensed comparison of the stores' 1984 operations'with those of 1983 follows: 1984 1983 Sales $2,345,475 $2,421,996 Cost of Sales 1,840,087 1,908,786 Gross Profit on 5ales 505 ,3$$ 513,210 Operating Expenses 401,571 414,344 Net Operating Income 103,81? 98,866 Interest and Other Income 9�877 5�88$ Net Income 113,694 104,754 Transfers to the General Fund 100,000 115,000 -15- Mr. Splinter -10- Ma 15, 1985 Y SPECIAL ASSESSMENT FUNDS Special Assessment Funds are used to finance and account for the construction of certain public improvemen�s such as residential streets, storm sewers, sanitary sewers and water mains which are to be paid for wholly or in part from special assessments levied against benefited property. The Special Assessment Funds are also used to account for assessments levied against the individual property owners which are usually paid in installments over a period of years. Con- struction expenditures of $230,713 were made from the Fund in 1984 The complete reporting of the Special Assessment Funds' financial operations and position can be found in the Special Assessments Funds' Statements Section of this report. GENERAL FIXED ASSETS The general fixed assets of the City are those fixed assets used in the performance of general government functions and exclude the fixed assets of the Enterprise Funds (Pub 1 ic Uti 1 ities and Liquor). As of December 31 1984, the general fixed assets of the City amounted to $25 ,293,647 This amount represents the original cost of the assets and is considerably less than their present value. Depreciation of general fixed assets is not recognized in the City's accounting system. The Department has an automated fixed asset control system. The system provides computations of depreciation for all depreciable fixed assets in such manner that information is readily available for management purposes. The complete reporting of the General Fixed Assets accounting can be found in the General Fixed Asset Statement Section of this report. INDEPENDENT AUDIT Section 7.12 of the City Charter requires that the City Manager's annual report to the Council concerning the entire financial operations of the City be audited. This requirement has been complied with and the auditor�s opinion has been i:ncluded in this report. CERTIFICATE OF CONFORMANCE In order to be awarded a Certificate of Conformance, a governmental unit must publish an easily readable and efficiently organized. comprehensive annual financial report, whose contents conform to program standards. Such reports must satisfy both generally accepted ble le al re uirements. accounting principles and applica g q -16- Mr. Splinter -11- May 15 1985 A Certificate of Conformance is valid for a period of one year only. We believe our current report conforms to Certificate of Conformance Program requirements, and we are submitting it to GFOA to determine its eligibility for a certificate. ACKNOWLEDGEMENTS The preparation of this report on a timely basis could not be accomplished without the efficient and dedicated services of the entire staff of the Department of Finance. I would like to express my appreciation to all members of the Department. I would also like to thank the Mayor, Council members and the City Manager for their interest and support in planning and conducting the financial operations of the City in a responsible and progressive manner and the independent auditors for their valuable and willing assistance. Respectfully submitted, �a,,�,. w• Paul W. Holmlund Director of Finance PWH:ps -17- CITY OF BROOKLYN CENTER, MINNESOTA CERTIFICATE OF CONFORMANCE IN FINANCIAL REPORTING The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Conformance in Finaneial Reporting to the City of Brooklyn Center, Minnesota for its comprehensive annua.l financial report for the fiscal year ended December 31, 1983 In order to be awarded a Certificate of Conformance, a govern- mental unit must publish an easily rea.dable and efficiently organized comprehensive annual financial report, whose contents conform to program standards. Such reports must satisf�r both generally accepted accounting principles and applicable legal requirements. A Certificate of Conformance is valid for a period of one yea.r only. We believe our current report continues to conform to Certificate of Conformance Program reQuirements, and we are submitting it to GFOA to determine its eligibility for another certificate. V -18- 1 Certificate 1 of Conf ormance 1 in Financlal 1 Aeporting Presented to City of Brooklyn Center, Minnesota For its Comprehensive Annual Financial Report for the Fiscal Year Ended December 31, 1983 A Certificate of Conformance in Financial Re ortin is P 8 presented by the Government Finance Officers Association of the United States and Canada to governmental units and public employee retirement systems whose comprehensive annual financial reports (CAFR's) are judged to substantially conform to program standards. �ce oFF,� rerm sra�s W wo resident a co�o�urioN s C� r�ac, I r �HIC�6 '��`/T�7� I Executive Director i _l9_ SEIFERT, BETTS 8. CO., LTD. 1 CERTIFIED PUBLIC ACCOUNTANTS Honorable Mayor and Members of the City Council City of Brooklyn Center, Minnesota We have examined the combined financial statements of the City of Brooklyn Center, Minnesota and its combining and individusl fund financial state�nts as of and for the year ended December 1984, as listed in the table of contents. Our examination was made in accordance with generally accepted suditing standards and, accordingly, included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances. In our opinion, the combined financial statements referred to above present fairly the financial position of the City of Brooklyn Center at December 31, 1984, and the results of its operations and the changes in financial position of its proprietary fund types for the year then ended, in confarmity with generally accepted accounting principles applied on a basis consistent with that of the preceding year. Also, in our opinion, the c�bining and individual fund financial statements referred to above present fairly the financial position of the individual funds of the City of Brooklyn Center at December 31, 1984 their results of operations, and the changes in financial position of individual proprietary funds for the year then ended, in conformity.with generally accepted accounting principles applied on a basis consistent with that of the preceding year. Our examination was made for the purpose of forming an opinion.on the combined financial statements taken as a whole and on the combining and individual fund financial statements. The accompanying financial information listed as supporting schedules in the table of contents (schedules S-1, S-2, S-3, S-4 and S-5) are presented for the purpose of additional analysis and are.not a required part of the cambined financial statements of the City of Brooklyn Center. The information has been subjected to the suditing procedures applied in the examination of the combined. combining� and individual fund financial statements and, in our opinion, is fairly stated in all material respects in relation to the combined financial statements taken as s whole. The accompanying statistical information presented in Tables l through 16 are not necessary f.or a fair presentation of the financial statements, but are presented as additional statistical data. These statistical information tables were not audited by us and, accordingly, we do not express an opinion on them. Respectfully submitted, L Seifert, Betts Co., Ltd. JAMES W. SEIFERT, GPA GEORGE D. BETTS, CPA KENNETH P. �AEB, CPA �nnespolis, Minnesota LARRY 5. �ACOBSON, CPA �Y 10� 1985 u+eRV s. rorr�e�, crn �ANE L HOYUM, CPA CINDY K. HAYES, CPA DOUGLAS F. BERGSTROM, CPA G12/546-3306 7035 Wayzata Blvd. Suite 100 Minneapolis, Minnesota 55426-1777 -20- 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. 1 1 1 1 1 aty of ��yn a�,t� �TT nn �rx�a ar,a nooarn cra�s oa�e�m eawu� s�r (ariti�,�ea r,�t �e) neoarbPr 37, 19e�a RroPrieka�Y Fiduciary T°kals (}�r�ta1 Flx�d lypes F1nd 1�+pas FLrd 1yp� lbooix►t (tat�s (�dm Q'�Y) 5pecial Debt �Pital Speci,al c�al (�1 Iag- Deoatber 31, (3�a1 �vaiae Se'�vice Prajects Ass�naits Eht�Pr'ise A6e'�cY Fixed A.ssets Tem Debt 1994 1963 ASSEIS m tgrd ard in Uar�►cs 635 3,900 u�535 �,5� lnvestrrents (at oost) (Abte 1E) 3r825�Z7 �J02 872r09T 6,533r152 3�063��f0 2�908 10,596 18,136 16,641,�1 l�oeivables (r�et of irnollectible): Aaoants 15,117 10,018 93,534 107,831 ��500 272�575 Taxes 252,044 2,484 34,860 1,368 290,7 286,'1$T Special A�reits: I�ferr�ed 11,790 2,857r574 2,8G9,3�+ 3,135,641 Delirr�aait 680 122,083 5,3D4 128,067 163�870 Aocruad r�evaYae 195,995 195,595 18T,153 t n�e fYrm ott� flyds 32,505 135,2ot 269,413 9,020 25,'N2 471,841 1,516,235 N Aae fYr�n ot}�a- govertirer►ts 14,087 1']5,576 884,685 59,3fi3 1,133,711 671,1W r l Trrventories arri s�pplias (No�:ee tF� 73,994 Zu6,545 3Z0,539 3�►3,493 �d 134 92�069 2Z6�441 88,939 f�stricted irn�naits ard ott�er assets u,482,839 4,482,839 4,581,609 0 41,200 �Y� P» ��P�t �Note 12) 15�141 25�293 40�435 ��9��172 L�ess aoami]ated depneci,atirn 3,800,448 3,800,448 3,547,9Zb A�mu�t available in Debt Service F1rds '7�,917 'T��917 878�3y3 I#mtxit to be pro✓ided fa' (3��eral Larg- Tam Debt 3,054,237 3,o54,�f 3,272,865 Total As9ets u,348,0e8 1,238,aD3 906,957 7,68'T,�io 6,165,681 19,�b8�748 11,954 25,293,b47 3,843,154 68,963,622 67,093,796 aty of m�ta no-marr i ait r�xa �r,a aooa�,t c��s arB� �ar� s�r (orn�r,.�a n�- 3�, i�e►+ propr'ietar�' Fiduc3ary' lbtals Ci�varma►t'al Ftx�d Ty[x� F1nd 1S+pes Flnd Ty+p� A000i.r►t (3�x� (N§rrxarri�m Q�lY) �ecial Debt (�pital S�ecial (�al (3�aa11�B- Lboarba' 31, (i��l 1�veYae �SVice P%jects As.�essn��ts Eht�Prise AgeY.y Fixed Assets Te'm Debt 1984 1983 L.IABIL�TT� A�ID FUfID EX�TTIY Liabilities Aoca.nts payable 93,120 31,013 59,981 3,017 113,351 30�,482 319,670 pay�7Q 12,000 u33,7�► 4,� 450,12� 176,G09 Lve to other flxds 2,481 133,618 7,336 161,487 166,919 471,841 1,516,Zi5 Aocrued escpe�ses/�ittu�es 78r9TT 41,3$7 11,232 131,�6 101,866 Aocn�ed vacatim ar�d sick pay 54 2 274,620 354,222 342,297 Ccm�ta�t�tim loerB payable ter�oraty 3�0,338 340,338 3�+3,419 11,'T90 118,W0 2,857,574 2,987,404 3,136,641 �✓a'iae bct'ds payable 3G0,000 360,000 �K10,000 c�,aal obli�tia� ba�as Fayab�e 3,475,o00 3,475,o00 3,730,00o I special assessnaits ba�ds payable 3,ZO5,000 3,205,000 3,8�,000 I Ass�s�S rn City prap�ty 93,534 93,53�► 161,685 N Total L3abilities 2 176�421 118�040 501�101 6�608�803 680�524 0 0 3,843 r154 12�169�545 14�083�422 N Flx�d FquitY Ctntxibuted �pital l0,Z15,491 1�,275,491 10,220,291 7rnested in ge�aal fixed assets 25,293,647 �i 23,799,I19 f�tair�ed earnirgs: R�eved: F�tricted assets 312,819 312,819 336,624 Debt retirenait 135,2#5 1 �,�5 131,8;15 Ccmtx�tim 34r775 3�r775 113� 180 Woricirg cePital �,OOU 62�,000 620,000 Plant e�er�sim 4,000,000 4,000,000 4,000,000 3,409,894 3�409,894 2,7o8,bb4 F1r�i �lar�: f�avai: A�stricted assets 2,100,092 2,100,092 1,634,239 irnentcries and pr�iaid acpa� 208,367 208,3b7 83,834 Sli�eqi,�t year �iatiazs 14,887 5,679 Debt sa�vioe 547,616 114,549 1,377,284 �t�pa'�ded aPprupr'iatims 250,987 -1��0� ��932 3�8b,283 LYa�ved: �i��atea 3,883,z�2 1,056,103 2�+i,3�1 4,8�,0'l0 »,954 io,o27,700 7,9�8��56 Totai F1x�d F�uity 4,106,526 1,061,782 788,917 7,186,149 -�►3,122 18,788,7114 11,954 25,293,647 0 56,794,�'T 53,010,374 TC7PAt., LIABII,IT� A�ID �ID DCi7TfY 4,348,0� 1,?�8,203 906,957 7,687,250 6,165 19,�,748 11,954 �'i,293,�►7 3,843,154 68,9b3,622 67,093,79b (See r�tes to fir�ancial stat�eits) City of Brooklyn Center EXHIBIT 2 All Governmental Fund Types COMBINED STATEMENT OF f�VENUES, EXPENDITURES, AND CHANGES IN EUND BALANCES Year Ended December 31, 1984 Totals (Memorandum Only) Special Debt Capital Special Ceneral Revenue Service Pro�ects Assessments 1984 �983 Revenues Taxes and special assessments (current year) 2,407,352 b1,751 382�615 961,265 3,812�983 3,688,105 Licenses and permits 296,667 296,667 328,019 Intergovernmental 2,524,494 485,24b 559�235 3,568,975 3,563�608 Charges for services 919,79b 47,122 966,918 879,041 Court fines 158,823 158,823 154,812 Interest 267,264 102,803 74,569 513,542 415,185 1,373�363 1,050,945 Miscellaneous b9,937 38,598 55 76,058 184,648 542�453 Total Revenues b_644,333 735,520 457�239 1,�48,835 1,376,450 10,3b2�377 10,206,983 Expenditures Gl�rrent General government 1,112,173 408,815 1,520,988 1�723�290 Public safety 1,985,108 1,985,108 1,875,122 Streets and highways 1,383,o39 1,383,039 1,288,081 I Co�rmunity health services 30,437 30,437 28,663 Parks and recreation 1,319,298 1�319�298 1,2b8,907 Non-Departmental 337,b2� 127,483 465,107 91�953 I W Capital outlay 923,713 230,713 1,154,426 1,344,955 ;I Debt service: Principal retirement 255,000 255,000 240,000 Interest and fiscal charges 250,132 457,377 707,509 441,247 Total Expenditures 6,167,679 u08,815 632,b15 923�7�3 688,090 8,820,912 8,302,218 Excess/Deficiency(_) Revenues Over Expenditures 476,654 326_705 Y__ _175,376 y__ 225,122 1,541,465 __1�904,765 Other Financing Sources or Uses(-) Proceeds of General Obligation Bonds 0 913,700 Operating transfers in (Note 9) 330,452 335,461 89��+u5 2,017,484 42,760 2,815,602 1,188,144 Operating transfers out -708,171 -3,495 132,205 -1,881,612 -2,725,483 1,073, 1 Total Other Financing Sources or Uses(-) 330,452 372,710 85,950 1 885 279 1,838 852 90,119 1,028,700 Excess of Revenues and Other Sources Over or ---p--- Under Ex enditures and Other Uses 807,106 -46,005 -89,426 2,110,401 -1,150,492 1,631,584 2,933,465 Fund Balance January 1 3,899,420 1,107,787 878,343 �,475,748 707,370 11,068,668 8,135,203 Residual Transfers -b00,000 600,000 Fund Balance December 31 4,106,526 1,061,782 788,917 7,186,149 -443�122 12,700,252 11,068, (See notes to financial statements r■� r o�■ City of Brooklyn Center EXHIBIT 3 General and Special Revenue Funds C�'BINED STATEMENT OF REVENUFS, EXPENDITURES, AND CHANC�E'S IN FUND BALANCES BODGET (GAAP BASIS) AND ACfUAL Year Ended December 31, 198�+ General Fured Special Revenue Furxls Actual Over Actual Over Dnder(-) Under(-) Budget Actual Budget Budget N__ Budget Revenues ---Taxes 2,426,771 2,407,352 -19,u19 61,751 b1,751 Licenses and permits 228,424 296,667 b8,243 Intergovernmental 2,329�954 2,524,494 194,540 485,2�+b 485,246 Charges for services 882,055 919�79b 37�741 4T>>22 u7>>22 Court fines 145,000 158,823 13,823 Miscellaneous 190,720 337,2�1 146�48� 141,401 `M 141,401 Total Revenues 6,202,924 6,644,333 441,409 0 735,520 735,520 Expenditures �rrent: -100,387 408,815 408,815 General government 1,212,560 1,112,173 N Public safety 2,144,295 1�985,�08 -159,1a7 ,Q Streets and highways 1,472,955 1,383 �9�916 I Co�unity health services 31,282 30,437 -845 Parks and recreation 1,406,528 1,319,298 �7�23� Non-Departmental 328,044 337,624 9,5 0 8 Total Expenditures M 6,595,664 6,167,679 �27_985 0 408_815 408_815 0 326,705 3 �7 5 Excess or Deficiency(-) of Revenues Over Expenditures -392 740 �+76 654 8b9�394 Other Financing Sources or Uses(-) Bond proceeds 0 0 Operating transfers in 392,740 330,452 62�288� _708,171 708,171 Operating transfers out Total Other Financing Sources or Uses(-) 392r740 330,452 -62,288 -372�7�� '37 Excess or Deficiency(-) of Revenues and Other Sources Over Expenditures and Other Uses 0 807,106 807,106 0 -46,005 -4 ,005 Fund Balance January 1 3,899,420 3,899,u2o 0 1,107,787 1,107,787 Residual Transfers -600,000 -600,000 0 3,299�u20 4,106,526 807,106 Fund Balance December 31 0$ 1,061,782 1,061,7 2 (See notes to financial statements) City of Brooklyn Center EXHIBIT 4 Proprietary Funds CONIBINED STATEMENT OF REVENUFS, EXPENSES, AND CHANGFS IN RETAINED EARNINGS For the Year Ended December 31, 198� With Comparative Tota.ls for the Year Ended December 31, 1983 Enterprise Funds_____ Municipal Public Totals Liquor Utilities Fund Fund 1 8�4 1983 9 Operating Revenues Gross margin on product sa.les 505,38$ 505 513,210 Charges for services ___1,569,836 1,569,836 1,479,102 Total Operating Revenues 505,388 1,569,836 2,075,224 1,992,3�2 Operating Expenses Personal Services 236,863 230,009 466,872 502,272 Contractual services 108,765 1,122,9�9 1,231,714 1,180,59� Supplies and materials 10,528 71,872 82,400 �►5,268 Heat, light, power 22,362 125,386 1�►7,748 132,338 Depreciation 10,362 2�2,160 252,522 2�18,210 Other 12,691 12, 6 617 Total Operating Expenses 401,571 1,792,376 2,193,9�7 2,115,295 Operating Income 103,817 -222,5�0 -118,723 -�22� Non Revenues or Expense(_) Interest earned 8,437 725,�32 733,869 699,043 Other revenue or expense 1,440 91,706 93,1�46 23,656 Interest and fiseal a�ent fees -15,713 -15 713 7, 7 -1- 2 2 Non-Operating Totals 9,877 801,425 811,302 705,427 Income Before Operating Transfers 113,b9�+ 578,885 692,579 582,��4� f rs n or Out -100 000 9,881 -90,119 -115,000 Operating Trans e I Net Income 13,69�► 588,766 602,�60 �+67,444 Retained Earnings January 1 221,274 7,688,999 7,910,273 7,�42,829 Retained Earnings December 31 23�+,968 8,277,765 8,512,733 7,910,273 (See notes to financial statements) -25- City of Brooklyn Center EXHIBIT 5 Proprietary Funds CONiBINED STATEMENT OF CHANGES IN FINANCIAL POSITION (Continued next page) For the Year Ended December 31, 1984 With Comparative Totals for the Year Ended December 31, 1983 N_N Enterprise Funds Municipal Public Totals Liquor Utilities Fund Fund 1984 1983 Sources of Financial Resources Operations: Net income for year 13,694 588,766 602,460 467,444 Add: Itenas not requiring current outlay depreciation 10,362 242,160 252,522 248,210 Total Resources Provided By Operations 24,056 830,926 85�,982 715,65�+ Contributions toward construction 50,200 50,200 5,292 Decrease in restricted assets 98,770 98,770 52,079 --------02 Total Sources 24,056 979,896 1,003,952 773, 5 Use of Financial Resources Purchase of properties 1,979 384,487 386,466 579,900 Payments to retire bonds u0,000 40,000 40,000 Amortization of deferred gain on sale of assets 0 10,595 Total Uses 42�+,487 426,466 630,�495 Net Increase or Decrease(-) in Working Capital 22,077 555,409 577,�+86 142,530 (See notes to financial sta.tements) -26- City of Brooklyn Center EXHIBIT 5 Proprietary Funds COMBINED STATEMENT OF CHANGES IN FINANCIAL POSITION (Continued from For the Year Ended December 31, 198� prior page) With Comparative Totals for the Year Ended December 31, 1 Enterprise Funds____ Municipal Public Totals Liquor Utilities Fund Fund M------ Elements of Increase or Deerease(-) in Working Capital Tem orar investments -1 526 362 773 3�9,247 50,222 P Y 3� Accounts receivable 13,709 6,897 6,812 8,09�+ Assessments receivable -1,125 -1,125 �,735 Due from other flznds 25,331 25,331 -11,725 Due from other overnments 46,226 46,226 -29,797 nventories 16 12 2�1 20,370 10,661 I 9 10 86 -2 965 1 �0�4 018 3 Pre id ex enses 3, 3, Pa P 8 Acerued revenue 8,�42 8,4�42 ,77 Accounts payable -�+4,780 80,917 36,137 -68,819 Contracts payable 62,906 62,906 53,19$ Due to other flznds 42,980 -10,039 32,9�1 1�46,393 IRie to other governments 0 19,606 G�rrent portion of long-term debt -5,000 -5,000 0 Aecrued liabities 26,419 -866 25,553 -22,663 Net Increase or Decrease(-) in Working Capital 22,077 555,409 577,�+86 1�42,530 (See notes to financial statements) -27- City of Brooklyn Center NOTES TO FINANCIAL STATEMENTS December 31, 1984 Note 1: Summar.y of Si�nificant Accountin� Policies A. Fund Accountinp The accounts of the City are organized 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 ap- propriate. Government resources are allocated to and ac- counted 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 various 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 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 5ervice 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 acquisi- tion or construction of major capital facilities other than those financed by proprietary funds or Special Assessment Funds. Special Assessment Funds Special Assessment Funds are used to account for the financing of public improvements or services deemed to benefit the properties against which special assessments are levied. -28- City of Brooklyn Center NOTES TO�FINANCIAL STATEMENTS December 31, 1984 Note 1: Summary of �nificant Accountin� Policies(continued) PROPRIETARY FUNDS Enterprise Funds Enterprise Funds are used to account for operations that are financed and operated in a manner similar to private business enterprises where the intent is that the costs (expenses, including depreciation) of pro- viding goods or services to the general public on a continu- ing basis be financed or recovered primarily through user charges. FIDUCIARY FUNDS Agency Funds Agency Funds are used to account for assets held by the City as an agent for other government units. B. Fixed Assets and Long-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 de- creases (expenditures and other financing uses) in net current assets. Accordingly, they are said to present a summary of sources and uses of '�available spendable re- sources° during a period. Fixed Assets used in governmental fund type operations are accounted for in the General 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, are capitalized along with other general fixed assets. No depreciation has been provided on general fixed assets. All fixed assets are valued at historical cost or esti- mated historical cost if historical cost is unavailable. Donated fixed assets are valued at their estimated fair value on the date donated. -29- City of Brooklyn Center NOTES TO FINANCIAL STATEMENTS December 31, 1984 Note 1: Summary of Si�nificant Accountin� Policies(continued) The fixed assets of the Liquor and Public Utilities funds are depreciated using the straight-line method over the estimated useful lives of the assets. The estimated useful lives are as follows: PUBLIC UTILITIES Water Sewer Liquor Mains/Lines 100 years 100 years Structure/Improvements 30 years 25 years 3-10 years Equipment 5-25 years 3-10 years Public Utility assets financed by special assessments are recorded as contributions. Long-term liabilities expected to be financed from governmental funds are accounted for in the General Long- Term Debt Group, not in the governmental funds. The single exception to this rule is for special assessment bonds, which are accounted for in Special Assessment Funds. The two account groups differ from "funds" in that they are not involved with measurement of results of opera- tians. They are concerned only with the measurement of financial position. Because of their spending measurement focus, expenditure recognition for governmental fund types is limited to exclude amounts represented by noncurrent liabilities. Since they do not affect net current assets, such long-term accounts are not recognized as governmental type expendi- tures or fund liabilities. They are instead reported as liabilities in the General Long-Term Debt Account Group. C. Basis of Accountin� Basis of accounting refers to when revenues and expen- ditures or expenses are recognized in the accounts and re- ported in the financial statements. Basis of accounting relates to the timing of the measurement made, regardless of the measurement focus applied. All governmental funds and agency funds are accounted for using the modified accrual basis of accounting. This means that their revenues are recognized when they become measurable and available as net current assets. Special assessments principal and interest and property taxes are considered "measurable" when in the hands of intermediary i -30- City of Brooklyn Center NOTES TO FINANCIAL STATEMENTS December 31 1984 No�te 1: Summary of Si�nificant Account Policies(continued) collecting governments and are recognized as revenue at that time. Anticipated refunds of such taxes are recorded as liabilities and reductions of revenue when they are measurable and their validity seems certain. Otherwise, taxes, licenses and permits, in�ergovernmental charges for services, court fines and miscellaneous revenues are con- sidered measurable and available when received. Investment earnings are recorded as earned since they are measurable and available. Special assessments installments not yet payable are reflected as deferred revenues. Expenditures are generally recognized under the modi- fied accrual basis of accounting when the related fund liability is incurred. Exceptions to this general rule include 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 incurred. Unbilled Water and Sewer Fund utility service receivables are recorded at year end based on a pro rata share of actual subsequent billings. Fund Measurement Basis of Fund Type Cate ories Focus Accounting g General Governmental Spending Mod. Accrual Special Revenue Governmental Spending Mod. Accrual Debt Service Governmental Spending Mod. Accrual Capital Projects Governmental Spending Mod. Accrual Special Assessment Governmental Spending Mod. Accrual Enter rise Pro rietar Ca ital Accrual P P P Y Maintenance Trust and A enc g Y Agency Fiduciary Mod. Accrual D. Bud�ets and Bud�etary Accountinp The City follows these procedures establishing the bud- getary data reflected in the financial statements: 1. By the first regular Council meeting in September, t the City Manager submits to the City Council proposed operating budgets for the fiscal year commencing the following January. The operating budgets include ex- e penditures and the means of financing them. _3�_ i City of Brookl_yn Center NOTES TO FINANCIAL STATEMENTS December 31 1984 Note 1: Summary of Si�nificant Accountin� Policies(continued) D. Bud�ets and Bud�etary Accountin�(continued) 2. Public hearings are conducted to obtain taxpayer comments. 3. The budgets are legally enacted through passage of a resolution by the City Council not later than the first week of October. 4. The City Council must authorize transfer of bud- geted amounts between departments within any fund. 5. Supplemental appropriations may be made during the year by the City Council. These amounts must be financed by funds from the contingency reserve set up in the general fund or by additional outside revenues. 6. All budget amounts lapse at the end of the year to the extent they have not been expended. 7. Formal budgetary integration is employed as a management control device during the year for the General Fund and Special Revenue Funds. Formal budge- tary integration is not employed for Debt Service Funds because effective budgetary control is alternatively achieved through general obligation bond indenture pro- visions. Budgetary control for Capital Projects and Special Assessment Funds is accomplished through the use of project controls. 8. Budgets for the General and Special Revenue Funds are adopted on a basis consistent with generally accept- ed accounting principles (GAAP). 9. Budgetary control is maintained at the expenditure category level within each activity. Budgetary control is maintained in compliance with the City Council's di- rections. City departments are not allowed to exceed budgetary expenditure totals for the department. 10. Budgeted amounts are as originally adopted, or as amended by the City Council. Individual amendments were not material in relation to the original appropri- ations. -32- City of Brooklyn Center NOTES TO FINANCIAL STATEMENTS December 31, 1984 Note 1: Summary of Si nificant Accountin Policies _g ,g (continued) E. Investments Investments are stated at cost, which approximates market. Cash balances from all funds are pooled and in- vested, to the extent available, in authorized investments. Interest income on such investments is recorded as earned, and allocated to the respective funds on the basis of the participating funds investment. F. Inventor.y Inventories within the Water and Sewer Fund and the Municipal Liquor Stores Fund are valued at the lower of cost (first-in, first-out) or market. Inventory quantities are determined by utilizing physical counts. G. Encumbrances Encumbrances accounting, under which purchase orders, contracts, and other committments for the expenditure of monies are recorded in order to reserve that portion of the applicable appropriation, is employed. Encumbrances out- standing at year end are reported as reservations of fund balances, since they do not constitute expenditures or liabilities. They are reappropriated in the succeeding year budget. H. Comparative Data Comparative totals for the prior year have been pre- sented in the accompanying financial statements in order to provide an understanding of changes in the City�s financial position and operations. However, comparative (i.e., pre- sentation of prior year totals by individual funds) data have not been presented in each of the statements since their inclusion would make the statements unduly complex and difficult to read. I. 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 change in financial position in conformity with generally acc�?te�? accounting principles. Neither is sucn data comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this data. -33- CitY of Brooklyn Center NOTES TO FINANCIAL STATEMENTS December 31, 1984 Note 1: Summar uf Si�nificant Accountin� Policies(continued) J. Property Tax The City Council annually adopts a tax levy and certi- fies it to the County for billing and collection prior to November 15 of the preceding year. Taxes become an en- forceable lien on the property on January 1. The County is responsible for billing and collecting all property taxes for itself, the City, the local School District and other taxing authorities. These taxes are payable (by property owners) by May 15 and October 15 of each calendar year. They are collected by the County and remitted to the City by approximately each subsequent July 15 and December 15. Additionally, delinquent collections are remitted to the City with each settlement. The City has no ability to enforce payment of property taxes by property owners. The County possesses this authority. Taxes payable on homestead property (as defined by State Statutes) are partially reduced by a homestead credit. This credit is paid to the City by the State in lieu of taxes levied against homestead property. The State remits this credit in six equal installments in July through December each year. The City recognizes property tax revenue when it be- comes both measurable and available to finance expenditures of the current period. K. Special Assessments Special assessments are levied against the benefited properties for the assessable costs of special assessment improvement projects in accordance with State Statutes. The City usually adopts the assessment rolls when the individual projects are complete or substantially complete. The assessments are collectible over a term of years generally consistent with the term of years of the related bond issue. Collection of annual installments (including interest) is handled by the County in the same manner as property taxes. Property owners are allowed to prepay total future install- ments without interest or prepayment penalties. The City recognizes special assessment revenue when it becomes both measurable and available to finance bonded debt. -34- City of Brookl,yn Center NOTES TO FINANCIAL STATEMENTS December 31 1984 Note 1: Summary of Si�nificant Accountin� Policies(continued) K. Special Assessments(continued) Once a special assessment roll is adopted, the amount attributed to each parcel is a lien upon that property until full payment is made or the amount is determined to be ex- cessive by the City Council or by court action. If special assessments are delinq�ent for a State Statute-determined number of years, the property is subject to tax-forfeit sale and the first proceeds of that sale (after cost, penalties, and expenses of sale) are remitted to the City in payment of delinquent special assessments. Generally, the City will collect the full amount of its special assessments if not adjusted by City Council or court action. Accordingly, no allowance for potentially uncollectible assessments has been provided. L. Local Government Aid Local government aid is provided to the City by the State as a shared tax based upon a statutory formula and without spending restrictions. Payment from the State is generally received during each calendar year for that 1 calendar ear. T r co nizes local overnment aid he Cit e Y Y g g revenue when it becomes both measurable and available to finance current operations. M. Grants The City receives various Federal, State and other grants, the purpose of which is to fund specific City ex- penditures. The City also receives Federal Revenue Sharing and other general purpose grants. These grants are recognized as revenue in the period to which the grant applies (See Note 10). N. Severance and Vacation P� Policies The City pays employees severance pay upon termination of employment based on accumulated sick leave and accrued vacation. Accruals are stated in the various funds. -35- Cit,y of Brookl,yn Center NOTES TO FINANCIAL STATEMENTS December 31 1984 Note 2: Chan�es in Lon�-Term Debt The following is a summary of bond transactions of the City for the year ended December 31, 1984� Debt Public Special Service Utilities Assess. Fund Fund Fund Total Bonds payable- January 1 $3,730,000 $400,000 $3,855,000 $7,985,000 Bonds issued 0 0 Bonds retired (255,000) (40,000) (650,000) (945,000) Bonds Payable- December 31 $3,475,000 $360,000 $3,205,000 $7,040,000 $788,917 is available in Debt Service Funds for payment of General Obligation Bond principal and interest. In addition to the bond transactions, sick and vacation accruals increased from $259�523 in 1983 to $274,620 in 1984 and assessments on City property decreased from $161 ,685 in 1983 to $93,534 in 1984• General Obligation Bonds General Obliga�ion Bonds are recorded in the General Long-Term Debt Group of Accounts and are backed by the full faith and credit of the City. Special Assessment Bonds These bonds are recorded as a liability in the Special Assessment Funds and are payable primarily from special assessments levied and collected for local improvements. The City has a contingent liability relating to a pledge of full faith and credit on the Special Assessment Bonds. The general credit of the City is obligated only to the extent that liens foreclosed against properties involved in the special assessment districts are insufficient to retire out- standing bonds. -36- City of Brooklyn Center NOTES TO FINANCIAL STATEMENTS December 31 1984 Note 3s Public Utilities Fund Public Utilities Revenue bonds were issued during 1963 to finance an addition to the water works system. These bonds, together with related interest and service charges, are payable solely from the operations of the Public Utilities Fund and are not a general obligation of the City. The resolution authorizing and directing the issuance of these bonds contain covenants and restrictions enacted for the purpose of protecting the bondholders' interest. Paragraph 8 of the resolution provides for the segregation of assets and the appropriation of retained earnings for debt retirement purposes and defines the manner of account- ing for the activities of the Public Utilities Fund. As required by Paragraph l0e of the issuing resolution, an analysis of each account balance appears as follows: Construction Account Proceeds of bond sale $1,000,000 Add: Investment earnings through 1983 388,116 1984 Investment earnings 7,044 Total Investment Earnings 395,160 $1,395,160 I Deduct: Construction expenditures thru 1983 $�,274,936 Total construction expenditures 1984 85,449 Total Construction Expenditures �1,360,385 Construction Account Balance: 34 ,775 Debt Retirement Account Accumulated amounts set aside to meet 1984 requirements for interest and principal: Investments with accrued interest 60,245 Reserve account investments 75,000 Total Debt Retirement Account: 135 -37- Citx of Brooklyn Center NOTES TO FINANCIA'L STATEMENTS December 31, 1984 Note 3: Public Utilities Fund(continued) A summary which reconciles restricted assets with earnings and also compares appropriated earnings with restriction requirements as set forth by the resolution authorizing the sale of revenue bonds is presented as follows: Revenue Construction Bond Reserve Account Account Account Restricted Assets 12/31/84 $135,245 $60,245 $75 ,000 Appropriated Earnings at 12/31/84 $135,245 $60,245 $75,000 All bonds which mature on January 1, 1982 or thereafter are subject to redemption (call) on January 1, 1974 or any interest payment due thereafter in inverse-numerical order at par and accrued interest and premium as follows: If redeemed January 1, 1981, or thereafter, no premium. Note 4: Public Utilities Fund Metro Waste Control Commission Receivables and Reserves Pursuant to enacted legislation (Metropolitan Sewer Act- Chapter 449 Session Laws) the Metropolitan Waste Control Commission, as of January 1, 1971, assumed ownership of all existing interceptors and treatment works needed to imple- ment a comprehensive plan for the collection, treatment, and disposal of sewage in the seven county metropolitan area. Under the terms of the Act, the Commission is obligated to reimburse each local government for the cost of facili- ties acquired. This cost or purchase price of facilities is based on depreciated replacement cost value as of December 31, 1970, as determined by cost analysis and engineering studies. This current value receivable is to be paid by the Metropolitan Waste Control Commission over a period of 30 years and the amount will earn interest at an annual rate of 4%• The method of payment will be by right of offset. The City will apply each annual installment against sewer service charges as billed by the Metropolitan Waste Control Commission annually. -38- I i City of Brooklyn Center NOTES TO FINANCIAL STATEMENTS December 31, 1984 Note 4: Public Utilities Fund Metro Waste Control Commission Receivables and Reserves(continued) The installment credit for 1984 consisted of principal and interest and the amount of credit offset against 1984 sewer service billings totaled $10,508, leaving a balance due over the next 20 years of $208,085 as adjusted by the M.W.C.C. Note 5: Special Assessment Funds Special assessments which related to improvements bene- fiting City-owned properties total $93,543 as of December 31, 1984. The payment for these improvements (with no interest charge) has been scheduled over a period extending r through 1987. These assessments are obligations of the general fund and payment is planned under normal budget procedures, whereby the needed monies will be appropriated during the years as each installment becomes due. Note 6: Pension Plans and Pension Funds The City participates in two pension plans as follows: 1. All City employees, with the exception of volun- teer firemen, who have a separate plan, are covered by the Public Employees� Retirement Plan. This plan is administered by an independent agency of the State of 1 Minnesota and is the central plan for employees of governmental units within the State of Minnesota. The City contributes, on behalf of its employees, 5•5� to 12� ($248,705 for 1984) of its employees' salaries to this plan and part of that contribution covers previ- ously unfunded amounts. The City contributed $139 ,694 for 1984 to the Public Employees' Retirement Plan for FICA. Actuarial Valuations of Plan Benefits are as follows: i (Per PERA report of 6/30/84) a. P7innesota Statutes, Section 356.215, Subd. 4, pro- vides that actuarial valuations of plan benefits shall be computed in accordance with the entry age normal cost (level normal cost) method. In the calculation of normal cost and accrued liabilities of the benefit plan, the actuary uses a 5 percent interest rate assumption and assumes an annual growth rate of 3-1/2 percent in member's salary. I -39- City of Brooklyn Center NOTES TO FINANCIAL STATEMENTS December 31, 1984 Note 6 Pension Plans and Pension Funds(continued) b. The unfunded accrued liabilities of $611 ,613,305 in the Public Employees' Retirement Fund and $23 in the Police and Fire Fund as of June 30, 1984 are the amounts by which reserves required to fund plan bene- fits exceed the assets of the funds. In addition to the level normal cost, the actuarial calculations included the amount of additional annual contribution which would be required to retire the current unfunded accrued liability by June 30, 2009. PERA is a state-wide contributory retirement plan for which an individual City's portion of the unfunded liability is not available because no city is directly liable for an unfunded liability under Minnesota law. c. Pension benefits are funded from member and em- ployer contributions and income from investment of fund assets. Public Employees Retirement Fund members belong to either the Basic or Coordinated P1an. Co- ordinated members are covered by Social Security and Basic members are not. All new members of the Public Employees Retirement Fund must participate in the Coordinated Plan. Current contribution rates for the funds are as follows: Unfunded Additional Employee Employer Employer Public Employees Retirement Fund: Basic Plan 8% 8�b 2 1/29� Coordinated Plan 4� 4� 1/4� Police and Fire Fund 8% 12% The above disclosures are not in accordance with Financial Accounting Standard #36. The required information is not available because the Association is not required to report under ERISA. -40- City of Brookl,yn Center NOTES TO FINANCIAL STATEMENTS December 31 1984 Note 6: Pension Plans and Pension Funds(continued) 2. The City contributes to the Brooklyn Center Fire- men's Relief Association, an independently administered retirement plan for the City's volunteer firemen. The benefits of this plan are established by the Minnesota Legislature and the financing of the plan is provided for by a state tax on fire insurance premiums and the City's ad valorem tax. Actuarial studies of retire- ment needs are made periodically to determine the con- tributions to the Association. The Association had an unfunded accrued liability of $241,511. The City re- mitted $23,807 to the Association in 1984• The City also transmitted a State Aid payment in the amount of $54,776. Note 7: Investment Trust The Investment Trust was established in 1956 by Council action to provide a uniform and consistent method of in- vesting temporary surpluses of cash. Net income of the Trust is distributed annually to each of the participating funds on the basis of the average yearly investment main- tained by each fund. The net income and the effective rate of return on average investment by participating funds is shown below by years. Rate of Net Year Return Income 1984 11.129� 2,097,598 1983 10.339� 1,791,694 1982 11 .34� 1,846,622 1981 11.05� 1,622,451 1980 8.87� 1,156,460 �979 8.45� 978,180 1 1978 7.669� 766,349 1977 7.11� 637,855 1976 6.86� 592,363 1975 7.15% 554,696 1974 7.66� 503,710 1956-1973 2.77�-6.66� 2,119,600 Total Distributed Earnings 1956 1984 $14 -41- City of Brookl n Center NOTES �0 FINANCIA� STATEMENTS December 31, 1984 Note 8: A enc Fu y nds The Brooklyn Center Housing and Redevelopment Authority is no longer considered a separate entity from the City. The City administers the Authority as a Special Revenue Fund of the City. The Brooklyn Center Fire Relief Associa- tion is a totally separate entity from the City and is con- sidered an agency account. Note 9 Interfund Receivables and Payables Individual in terfund re i a ce v ble and a able bal p y ances at December 31, 1984 were as follows: Inter-Fund Inter-Fund Fund Receivables Payables General 32,505 2,481 Community Development Block Grant 132,753 Capital Projects 269,413 399 Municip�l State Aid for Construction Fund 6, Special Assessmen�s 9,020 161,487 Municipal Liquor 2,543 Public Utilities 25,702 164,376 Housing and Redevelopment 132,753 Federal Revenue Sharing Diseased Tree 2,448 865 471,841 471,841 Inter-Fund Transfers In Out Operating Transfers: General Fund 330,452 Federal Revenue Sharing ��7�g�g Community Development Block Grant 387 Capital Projects Fund 2,013 Municipal State Aid for Construction 3 ,495 132,205 Special Assessments 42,760 1,881,612 Municipal Liquor 100,000 Housing and Redevelopment 335,461 State Aid Street Bonds Debt Service 89 ,445 3,495 LAWCON 93,218 Public Utilities 9�gg� �2,825��83_ $2,825�483 -42- City of Brooklyn Center NOTES �0 FINANCIAL STATEMENTS December 31 1984 Note 10: Special Revenue Funds Federal Revenue Sharing grants for the year ended December 31, 1984, by the entitlement period are as follows: Entitlement Period/Quarter Amount 1 5 2,3, $118, �6 1 41,179 $160,081 Note 11: Continpent Liabilities The City participates in a number of federally assisted grant programs, principal of whi�h are the General Revenue Sharing, Community Development Block Grant, and Local Public Works programs. These programs are subject to pro- gram compliance audits by the grantors or their representa- tives. The audits of these programs for or including the year ended December 31, 1984, have not yet been conducted. Accordingly, the City's compliance with applicable grant requirements will be established at some future date. The amount, if any, of expenditures which may be disallowed by the granting agencies cannot be determined at this time, although the City expects such amounts, if any, not to be ma�erial. Note 12: Chan�es in Fixed Assets General Fixed Assets Balance Balance January 1, Acqui- December 31, 1984 sitions Disposals 1984 Land 1,032,527 83,696 1,116,223 Buildings 4,459,124 72,659 4,531,783 Park properties 2,783,004 899,293 3,682,29? Furniture 385,783 1,900 387,683 Departmental equipment 2,588,350 238,494 2,826,844 Storm sewers streets 12,551,191 197,626 12,748,817 Total General Fixed Assets $23,799,979 $1,493,668 -0- $25,293,647 -43_ City of Brooklyn Center NOTES TO FINANCIAL STATEMENTS December 31, 1984 Note 12: Changes in Fixed Assets(continued) U�ility Plant in Service Balance Transfers Balance t January 1, and December 31, 1984 Additions Disposals 1984 Water Department Mains and lines 6,067,970 $821,111 6,889,081 Structures 1,748,766 103,750 1,852,516 Equipment 166 ,183 9,877 176,060 Land 24,816 24,816 TOTAL WATER DEPARTMENT 8,007 $934 ,738 $-0- 8, Sewer Department Mains and lines 4,882,462 315 4,882,777 Structures 793,659 146,940 940,599 Equipment 166,183 9,876 176,059 Land TOTAL SEWER DEPARTMENT 5,842,304 $157,131 $-0- 5 ,999,435 Construction in Progress 707,382 -0- $707,382 TOTALS $14 ,557,421 $1,091,�69 $707,382 $14,941,908 Liquor Fund Fixed Assets Balance Balance January 1, December 31, 1984 Addition5 Disposals 1984 Land 5,89s 5,898 Equipment 135,677 1,979 137,656 Leasehold 56,197 56,197 TOTALS $__1 $__-0-__ $___199 -44- I City of Brooklyn Center NOTES TO FINANCIAL STATEMENTS December 31, 1984 Note 13: Sunmary of Debt Service Requirements to N�turity General Obligation Ceneral Obligation General Obligation Bonds Special Assessment Bonds State-Aid Street Bonds Water Revenue Bonds Debt Service Requirement Year Principal Interest Principal Interest Principal Interest Principal Interest Principal Interest 1985 195,000 224,595 440,000 238,575 60,000 26,070 45,000 13,991 740,000 503,231 1986 215,000 210,458 325,000 210,935 60,000 22,140 45,000 12,285 645,000 455,818 1987 275,000 t93,339 315,000 189,795 60,000 18,165 45,000 10,530 695,000 411,829 7988 300,000 173,483 300,OQ0 168,620 60,000 14,160 45,000 8,775 705,000 365,038 1989 325,000 151,833 280,000 147,480 60,000 10,125 45,000 7,020 710,000 316,458 1990 195,000 128,788 260,000 126,98A 60,000 6,075 45,000 5,265 560,000 267,108 1991 355,000 108,445 260,000 107,070 60,000 2,025 45,000 3,510 720,000 22t,050 I 1992 400,000 79�998 200,000 8$,150 45,000 7,755 645,000 169.903 I 1993 410,000 b8,968 175,� T1,387 585,000 120,355 1994 100,000 28,988 175,000 55,200 z�s,000 su,�s8 1995 100,000 20,588 175,000 38,488 275,000 59,076 1996 125,000 10,869 150,000 22,500 275,000 33,369 1997 60,000 2,700 150,000 7,500 210,000 10,200 M 3,055,000 r t,383,052 3,205,000 t,472,680 �420,000 98,760 360,000 63,j3� r 7,ouo,o0o 3,ot7,623 w� r r r City of Brooklyn Center NOTES fiO�INANCIAL STATEMENTS December 31, 1984 Note 1 Addition 4 al Se�ment Information Public Municipal Utilities Liquor Fund Fund Total Tota1 Assets $19,112,340 $356,408 $19,468,748 Net working capital 3,087,649 191,525 3,279,174 Total equity 18,553,256 234,968 18,788,224 Current Capital Contribution 55,2�0 55,200 Note 15: Industrial Development Revenue (IDR) Bonds Industrial Development Revenue Bonds are payable solely from payments derived from a revenue agreement between the Gity, as obligee, and a contracting party, as obligor, and are not obligations of the issuing municipality within the meaning of any constitutional or statutory provision, do not give rise to any pecuniary liability of the City or its officers, and are not a charge against the City's general credit and/or taxing powers. The City of Brooklyn Center has issued the following Industrial Development Revenue Bonds: Year Amount Company Issued Issued Medtronics, Inc 1979 $1 ,000,000 Minnesota Municipal Leasing Corporation (LOGIS) 1979 800,000 Cass Screw Machine Products 1979 750,000 Commercial Partners/Brookdale 1980 6,200,000 S S Real Estate (Swenson�s Carriage House) 1980 750,000 Brookdale Office Park Partners 1g81 8,200,000 Shingle Creek Eleven Project 1g81 1,600,000 Federal Lumber 1981 1,000,000 Brookdale Corporate Center I 1981 8,100,000 Shingle Creek Development Company 1982 2,172,150 The following Industrial Development Revenue Bonds have been approved, but not yet issued: Brookdale Corporate Center II $8,7g0,000 -46- Cit� of Brooklyn Center NOTES TO FINANCIAL STATEMENTS December 31, 1984 Piote 16s Commitments 1. The City expects all contracts to be completed within one ear. Y 2. Liquor Fund lease commitments for rental are as follows: Store #1 lease requires payments of $1 per month, lus ass-throu h ex enses and continued P P P g through July 31, 1985• Current payments total $2,167.08 per month. Store #2 is City-owned. Store #3 lease requires payments of $1 per month, plus pass-through expenses, and continued through December 31 1985 Current payments total $1,762.83 per month. Note 17: Reserves 1. Restricted assets reserve of $312,31g consists of Metro Waste Control Commission receivab2es ($208,085) and deferred assessments ($104,234)'not available for current use. 2. Debt retirement reserve of $135 is required by bond indenture. 3. Constructipn reserve ($34, 775) is the unused portion of bond proceeds and interest earned on the proceeds. 4. Working Capital reserved by Council ($620,000). 5. Plant expansion reserved by Council ($4,000,000). 6. Subsequent year appropriations ($20,566) are unused ap- propriations reappropriated the succeeding year and also may include fund balance amounts appropriated to budget for succeeding year. 7. Inventories and prepaid expenses are reserved in the General Fund ($208,367). Note 18: Deficit Fund Balance Deficit balances exist in the following funds: Fund Amount Special Assessments 1976 (10,929) 1982 (1,422,445) Construction (237,335) In all these funds, the collection of special assessment levies are expected to exceed fund deficits. -47- CITY OF BROOKLYN CENTER NOTES TO FINANCIAL STATEMENTS December 31, 1984 Note 19: Sco e of the Reportin� Entity This report includes all of the funds and account groups of the City. It includes all activities considered by the U.S. Bureau of Census to be part of (controlled by or de- pendent on) the City. The Housing and Redevelopment Au- thority (HRA), although governed by Commission members who are also City Council members, is considered by Census to be a separate government because: (1) it is�an organized entity; (2) it has governmental character; and (3) it is substantially autonomous. However, audited financial statements for the HRA are included in this report since the City receives and disburses funds for the HRA. Inde- pendent School District Nos. 286 (Earle Brown), 279 (Osseo), 281 (Robbinsdale), and 11 (Anoka) are totally or partially located in Brooklyn Center and provide secondary education services to s�udents within the corporate limits of Brooklyn Center. These independent school districts are governed by their respective school boards; therefore, financial data applicable to them has been excluded from this report. Independent School District No. 287 (Suburban Hennepin County Area Vocational Technical Institute) financial data has also been excluded for the same reason. State Aid insurance premium tax in the amount of $54,776 and ad valorem taxes in the amount of $32,019 were receipted by the City and disbursed to the Volunteer Firemen's Relief Association with the City acting in an agency capacity. This report includes all other activities considered to be a part of, and controlled by, the City of Brooklyn Center. Note 20: Excess of Actual Expenditures Over Bud�et in Individual Funds The following funds had an excess of actual expenditures over Budget for the year ended December 31, 1984: Fund Budget Actual Excess Disesed Tree Removal $50,000 $50,064 64 -48- 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 interest earnings. The Fund�s resources also finance a wide range of functions, including the current operations of general government, public safety, public works, health and welfare, recreation, and unallocated general expenditures.. Revenues and expenditures in this Fund are recognized on the modified accrual basis. Revenues are recognized 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. I i City of Brooklyn Center A-1 General Fund COMPARATIVE BALANCE SHEET December 31, 1984 and 1983 Totals -------198�----------- ASSETS Cash 635 635 Temporary investments 3,825,27� 3,313,602 Accounts receivable 15,117 9,277 Taxes receivable 252,044 234,750 Due from other flznds 32,505 502,085 Due from other $overnments 14,087 19,4�3 Inventory of supplies 73,99�+ 76,578 Prepaid insurance i3�,372 7,256 TOTAL 4,348,028 __4,163,626 LIABILITIES AND �'UND BALANCE I,iabilities N Accounts payable 93,120 138,63�I Contracts payable 12,000 2,000 Due to other funds 2,�81 395 Accrued salaries payable 78,977 71,272 Acerued vacation and sick pay 54,924 51,905 Total Liabilities _2�41,502 ____26�+,206 Fund Balance Reserved: For inventories and prepaid expenses 20$, 83,834 For subsequent-year appropriations 1�,887 39,735 Unreserved flznd ba.lance 3, 883 272 3, 775 851 Total Fund Balance 4,106,526 3,899,420 TOTAL LIABILITIFS AND FUND BALANCE N 4,348,028 4,163,626 (See notes to financial statements) 1 -49- City of Brooklyn Center A_2 General Fund STATEMENT OF REVENUES, EXPENDITURES, AND CHANGFS IN FUND BALANCE BUDGET (GAAP BASIS) AND ACTUAL Year Ended December 31, 198�4 With Comparative Actual Amounts for the Year Ended December 31, 1983 1984 Actual Over or Under( 1983 Budget Actual Budget Actual Revenues Ad valorem taxes 2,426,771 2,407,352 -19,419 2,133,859 Licenses and permits 228,42� 296,667 68,243 328,019 Intergovernmental 2,329,95� 2,524,494 19�,540 2,459,133 Charges for services 882,055 919,796 37,741 859,928 Court fines 145,000 158,823 13,823 154,812 Miscellaneous 190,720 337,201 1�16,�481 24�I,433 Total Revenues 6,202,92�+ 6,644,333 441,409 6,180,184 Expenditures General government 1,212,560 1,112,173 -100,387 1,05�,064 Public safety 2,144,295 1,985,108 -159,187 1,875,122 Streets and highways 1,472,955 1, 383,039 89,916 1,288,081 Com�unity and health services 31,282 30,�37 -845 28 ,663 Parks and recreation 1,406,528 1,319,298 -87,230 1,268,907 Non-Departmental 328,044 337,624 9,580 91,953 Total Expenditures 6,595,664 N 6,167,679 M_ -l►27,985 N 5,606,790 Excess or Deficiency( of Revenues Over Expenditures -392,740 �+76,654 869,39�+ 573,39� Other Financing Sources or Uses(-) N Operating transfers in 392,7�+0 330,452 -62,288 489,111 Total Other Financin� Sources or Uses(-) 392,7�+0 330,452 -62,288 489,111 Excess or Deficiency( N of Revenues and Other Financing Sources Over Expenditures and Other Uses 0 807,106 807,106 1,062,505 Fund Balance January 1 3,899,420 3,899,420 0 2,836,915 Residual transfers: To Capital Projects Fund -600,000 -600,000 0 0 Fund Balance December 31 3,299,�420 4,106,526 807,106 3 899 420 See notes to financial. statements) -50- City of Brooklyn Center S-1 General Fund SCHEDULE OF REVENUE BUDGET AND ACTUAL (Continued next page) OBJECTIVE CLASSIFICATION For the Year 1g8� with Comparative Actual for 1983 1984 Actual Over or Under( 1983 Budget Actual Budget N__ Actual Ad Valorem Taxes Real Estate taxes' 2,376,771 2,376,771 0$ 2,090,470 Penalties and interest 50,000 30,581 19 ,��9 �+3 ,389 Total Ad Valorem Taxes 2,426,771 �2,�07,352 _2,�33,859 Licenses and Permits ��Liquor and�beer 99,020 108,753 9,733 108 ,172 Building permits 40,000 76,600 36,600 84,032 Meehanical permits 15,000 23,597 8,597 2�,764 Electrical permits 12,000 15,971 3,971 18,831 Food licenses 11, 13 ,806 2,506 15,210 Plumbing permits 6,000 8,u11 2,411 19,770 Rental dwelling permits 10,000 11,809 1,809 9,631 Sewer and water permits 4,000 3,988 -12 10,150 Dog licenses 3,500 6,191 2,691 6,163 Swim�aing pool licenses 2,550 2,792 242 2,880 Service station licenses 1,995 1,766 229 2,363 Mechanical licenses 2,500 2,737 237 2���3 Miseellaneous business license 1,350 1,301 -49 1,405 Garbage licenses 1,220 1,264 44 1,105 Vehicle dea.ler licenses 900 973 73 900 Cigarette licenses 900 763 137 869 Sign permits 1,500 1,672 172 2,800 Taxicab licenses 500 659 159 1,000 Bowling licenses 700 700 0 976 Lodging establishments 489 �+56 33 �56 All other licenses and permits 13,000 12,458 -542 14,099 Total Licenses and Permits 228,424 296,667 68,243 328,019 Intergovernmental- Federal grants: Miscellaneous small grants 18,510 2,096 -16,414 8,70b Total Federal Grants 18,510 2,096 -16,414 8,704 State grantss Miscellaneous small grants 0 4,640 �4,640 6,786 Total State Grants 0$ 4,6�+0 4,640 6,786 -51- City of Brooklyn Center S-1 General Fund SCHEDULE OF REVFNUE BUDGET AND ACTUAL (Continued next page) QBJECTIVE CLASSIFICATION For the Xear 19$4 with Comparative Ac�ual for 1983 1984 T�T������� N�TIw1��������������������� Actual Over or Under(-) 1983 Budget Actual Budget Actual In�ergovernmental (continued) State shared taxes: Local government aid 1,5�6,155 1,742,535 196,380 1,627,078 Reduced assessments 0 0 14,�+17 Homestead credit aid 639,289 639�289 0 671,223 Fixed machinery tax 0 0 1,371 Police pension aid 74,000 81,158 7,158 77,698 Firemen pension aid 52,000 5u,776 2,776 51,856 N.__------- Total State Shared �'axes 2, 311,�444 2,517,75$ 206,314 2,443,643 Total Intergovernmental�Rev. 2,329,954 �2,524,49�1 194,5�+0 2,�+59,�33 (�arges for Services Inter charges Admin.: Public Utility Fund 140,055 143,b03 3,548 107,269 Liquor Fund 37,531 37,798 267 36,072 Other Funds 14,274 2,63�4 -11,640 1,785 Engi.neering and clerical fees 120,000 102,907 17 ,093 144, General government charges 19,280 41,579 22,299 32,59$ Public safety charges 3,000 8,607 5,607 13,523 Recreation fees 547,915 582,668 34,753 524,317 1NM����1 ����T�M�M Total Charges for Services 882,055 919�796 37,7�1 $59,92$ Court Fines Fines 145,000 158,823 13,823 154,812 Total Court Fines 145 000 158 823 13,823 15�,812 Miscellan�;ous Rent 10,000 18,049 8,Ob9 9,685 Interest on investments 150,000 267,264 117,264 173,126 Other 30,720 51,888 21,168 64,222 Total Miscellaneous 190,720 N 337,201 146,481 247,033 Total Revenue 6,202,924 6,64b,333 441,409 b,182,78�+ _52_ City of Brooklyn Center S=1 General Fund SCHEDULE OF REVENUE BUDGET AND ACTUAL (Continued from prior pa.ge) OBJECTIVE CLASSIFICATION Far the Year 1984 with Comparative Actual for 1983 1984 Actual Over or Under(-) 1983 Budget Aatual Budget Actual Other Financing Sources �T�T�� Operating transfers in 392,740 330,452 -62,288 486 ,511 Total Other Saurces _392,740 ____330 ____-62,288 ____�86 Total Revenue and Other Sources __6,595,664 6,97�,785 ____379 __6,669,295 (See notes to financial statements) i I 1 1 1 1 1 -53- City of Brooklyn Center s_2 Genera.l Fund SCHEDULE OF EXPENDITURES COMPARED TO BUDGET (GAAP BASIS)(Continued next page) For the Year Ended Dee�nber 31, 198b With Comparative Actual Amounts for the Year Ended December 31, 1983 ------------------------198�------------- Aetual Over or Under(-) 1983 N__ �udget Actual N__ Budget Actual General Government Mayor and Council: Personal services 24,881 18,121 -6,760 17,892 Services and other charges 37,923 33,553 4,370 2�,373 Total Mayor and Council 62,804 51,674 N -11,130 �42,265 Charter Corrnnission: Services and other charges 1,500 284 -1,216 359 Total (�arter C�ranission ______1,500 M_____ 284 ______1,216 T_______ Administrative Office: Personal services 218,800 203,302 -15,�198 185,865 Services and other charges 21,100 12,207 -8,893 16,317 Ca.pital outlays 8,�464 8,528 64 8,833 Total Administrative Office 2�48 22�,037 2b,327 211,015 Elections and Voter Registration: Personal services 6,3�1 6,�421 80 3,952 Services and other charges 19,770 16,79b -2,97� 5,696 Total Elections 26,111 23,217 -2,89� 9,648 Assessor's Office: Personal services 135,576 121,783 -13,793 112,693 Supplies 2,735 1,19�+ 1,541 963 Services and other charges 6,987 4,9�t8 -2,039 4,478 Capita.l Outlay 1,650 1,652 2 838 Total Assessor's Office 146,948 129,577 17,371 118,972 Finance Personal services 218,��2 207,757 10,685 189,397 Services and other charges 915 9�5 30 825 Capital outlay 925 -925 5�1 Total Finance 220,282 208,702 -11,580 190,763 -54- City of Brooklyn Center S_2 General Fund SCHEDULE OF EXPENDITURES COMPARED TO BUDGET (GAAP BASIS)(Continued next page) For the Year Ended December 31, 1984 With Comparative Actual Amounts for the Year Ended December 31, �983 198 Actual Over or Under( 1983 Budget Actual Budget Actual General Government (continued) Independent Audit: Services and other charges 18,000 8,177 -9,823 10,083 Total Independent Audit 18,000 8,177 -9,823 10 08 Legal: Services and other charges 132,605 127,003 -5,602 13�,217 Total Legal 132,605 ____127,003 ______5,602 ____134,217 Government Buildings: Personal services 185,069 169,338 -15,731 161,082 Supplies 19,900 26,547 6,647 18,388 Services and other charges 122,400 114,270 8,130 100,551 Ca.pital outlay 28,577 29,3�7 770 56,721 Total Government Buildings 355,9�6 339,502 -16,44� 336,742 Total General Government 1,212,560 1,112,173 __1,05�,064 Public Safety M Police Protection: Personal services 1,�455,126 1,388,197 -66,929 1,317,415 Supplies 29,173 25,373 -3,800 16,832 Services and other charges 128,504 91,924 104,614 Ca.pital outlay 38,520 32,448 -6,072 51,306 Total Police Protection N 1,651,323 N 1,537,9�2 -113,381 1,�490,167 Fire Protection: Personal services 77,509 55,522 -21,987 124,360 Supplies 11,509 13,32�4 1,815 7,862 Services and other charges 108,391 98,253 -10,138 17,�423 Ca.pital outlay 25,685 25,536 149 10,406 ----22--0-� ----1-2-6-- Total Fire Protection 3, 9 9, 35 30 459 160 051 Protective Inspection: Personal services 173,502 167,204 6,298 158,417 Supplies 750 350 -400 708 Services and other char�es 12,35� 11,533 -821 9 ,898 Capital outlay 350 183 -167 2,201 Total Protective Inspection 186,956 179,270 -7,686 171,224 ------55--- City of Brooklyn Center S-2 General Fund SCHEDULE OF EXPENDITURES COMPARED TO BUDGET (GAAP BASIS)(Continued next page) For the Year Ended December 31, 198�4 With Comparative Actual Amounts for the Year Ended December 31, 1983 198�t ------------------------------Actual Over or Under(-) 1983 N__ Budget M__ Actual Budget Actual Publie Safety (continued) F�nergency Preparedness Personal serv�,ces 39,543 38,334 -1,209 3�,426 Supplies 465 461 -4 1�8 Services and other charges 8,289 5,100 -3,189 6,146 Capital Outlay 12,250 12,240 -10 1,294 Total Emergency Preparedness 60,547 56,135 -4,412 42,01U T Animal Control:------------ Services and other charges 22,375 1g,126 -3,249 11,666 Total Animal Control 22,375 19,126 24 11,666 Total Public Safety 2,144,295 __1,985 __1,875,122 Public Works N Engineering Department: Persona.l services 316,434 295,048 -21,386 271,130 Supplies 4,500 2,631 -1,869 �,331 Services and other charges 4,950 1,851 -3,099 2,697 Ca.pital outlays 8,840 2,589 -6,251 3,991 Total Engineering 334,72� 302,119 -32,605 282,149 Street De artment: P Personal services 408,170 404,259 -3,911 385,83�+ Supplies 181,700 118,76�4 -62,936 126,820 Services and other charges 5,250 57,572 52,322 1,050 Ca.pital Outlay 47,200 43,723 -3,477 66,920 Total Street 642,320 62b,318 -18 002 580 624 e Maintenance Shop: Personal services 120,381 113 -6,682 107,052 Supplies 171,800 146,621 -25,179 �35,4�►3 Services and other charges 29,500 44,187 14,687 38,307 Capital Out],ay 7,420 7,012 -408 902 Tota1 Maintenance Shop 329,101 311,519 -17,582 281,704 Traffic Signals and Lights: Supplies 900 �t7 -853 35 Services and other charges 165,910 ____145,036 -20,874 143,569 Total Traffic Signals 166,810 145,083 -21,727 143,604 Total Public Works 7,955 1,383,039 89,916 1,288,081 --1 4 2 -56- I City of Brooklyn Center s_2 General Fund SCI�DULE OF EXPENDITURES CON�'ARED TO BUDGET (GAAP BASIS)(Continued next page) For the Year Ended Dec�nber 31, 1984 With Comparative Actual Amounts for the Year Ended December 31, 1983 1984 Actual Over or Under(_) 1983 Budget Actual Budget Aetual Community Health Services Health Regulation: Services and other eharges 31,282 3Q,437 -845 28,663 Total Health Inspection 31,282 30,437 845 28 66 Total Community Health 31,282 30,437 845 28,663 Parks and Recreation Administration: Personal services 181,845 171,630 -10,215 161,455 Supplies 5,400 2,806 2,59� 5,077 Services and other cha.rges 21,900 16,611 -5,289 13,901 Capital outlay 8,250 8,874 624 7,392 Total Administration 217,395 199,921 -17,47�4 187,825 Adult Programs: Personal services 20, 00 28,405 7,905 1,000 Supplies 20,855 37,�05 16,550 28,804 Services and other charges 120,8�+6 97,263 -23,583 110,666 Tota1 Adult Programs 162,201 163,073 872 140,470 Teen Programs: Personal services 2,100 3,181 1,081 1,571 Supplies 295 761 466 605 Services and other charges 3,750 2,038 -1,712 1 568 Total Teen Programs 6,145 5,980 165 3,7�+� Children's Pro�rams: Personal services 25,723 23,190 -2,533 22,188 `Supplies 6,869 7,664 795 6,881 Services and other eharges 13,580 14,690 ____1,110 Total Children's Programs 46,172 N 45,544 -628 40,327 -57- City of Brooklyn Center S_2 General Fund S(�iEDULE OF EXPENDITURES COMPARED TO BUDGET (GAAP BASIS (Continued from prior For the Year Ended Dec�nber 31, 1984 pa.ge) With Comparative Actual Amounts for the Year Ended December 31, 1983 1984 Actual Over or Under(-) 1983 Bud et Actual Budget Actual Parks and Reereation (continued) General Programs: Personal services 24,100 21,101 -2, 21,231 Supplies 4,035 8,967 4,932 1,925 Services and other charges 37,579 38,931 1,352 30,249 Total General Programs 65,714 68,999 3,285 53,405 Com�nunity Center Personal services 170,800 185,821 15,021 165,�43 Supplies 30,600 48,829 18,229 33,596 Services and other char�es 144,400 128,227 -16,173 120,002 Capital outlay 39,9b0 24,591 -15,369 36,632 Total Community Center 385,760 387,468 1 708 355 673 Park Maintenance: Personal services 356,826 294,016 -62,810 325,985 Supplies 40,400 �t0,717 317 40,366 Services and other charges 56,700 48,631 -8,069 37,602 Ca.pital outlays 69,215 64,9�9 -�+,266 83,510 Total Maintenance 523 ,141 448,313 -7�,828 487,463 Total Parks and Recreation 1,406,528 1,319,298 -87,230 1,268 Non-Departmental N �Expenditures not Charged to Departments: Persona.l services 72,000 124,564 52,564 55,701 Supplies 17,000 16 ,349 -651 15,245 Services and other charges 220,464 179,022 -41,4b2 21,007 Capital Outlay 18,580 17,689 -891 0 Total Non-Departmental 328,0�44 337,624 9,580 91,953 Total Expenditures 6,595,664 6,167,679 -427,985 5,606,790 (See notes to financial statements) -58- City of Brooklyn Center, Minnesota SPECIAL REVENUE FUNDS The Specia 1 Revenue Funds were estab 1 ished to account for revenues derived from taxes and/or other specific revenue sources. The Fund's resources are usually restricted by statute, City Charter or ordinance to finance specific City functions or activities. Revenues and expenditures in this fund are recognized on the modified accrual basis. Revenues are recognized 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. Federal Revenue Sharin� Fund: This Fund was established to account for funds received under�the "State and Local Fiscal Assistance Act of 1972'� as amended in 1976. Anti-Recession Fiscal Aid Fund: This Fund was established to account for funds received under "Title II of the Public Works Employment Act of 1976'� I Public Em�lo�ees Retirement Fund: This Fund was originally established to account for the central collection of employer and employees� share to pay employee pension contributions under various pension programs. Pension contributions are now processed through each individual Fund. Diseased Tree Removal Fund: This Fund was established to account for I the collection of resources and expenditure of these resources f or diseased tree control. LCMR and Lawcon Fund: This Fund was established to account for land and water conservation funds received from federal and state grants. Transfers are made f rom this Fund to the Capital Projects Fund where accounting for project costs takes place. Community Development 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 Capital Projects Fund where accounting for project costs takes place. O�en Space Land Acquisition Fund: This Fund was established account for funds received from federal, state, and county grants for financial assistance for the acquisition of public open space lands within the community. Housin� and Redevelopment Authorit Fund: This Fund was established �o accou� f'or tne Housing and Kedevelopment Authority (HRA) of Brooklyn Center. r r i City of �rodclyn Oa�ter �1 Special f�ve�ae F1z�d.s QNBIlVII�G B� 3�Ef 7tear FY�ded Iboerber 31, 1984 With Car�erative Totals ftr the Yaar �ded ibo�i� 31, 1983 Feda�a.l Anti- A�lic Diseased �aru�ty C�. �ar�e EYusirg aa�d F�vez�e Aaoessirn Fhployees 'iY�ae L,Q'fft and I�velo�me'� I�d �develo�ma�t s�rir,g Fisoal aia F�tir�analt I�oxa1 Lawoa� alnc�c cYant ncx�uistirn nurr�a�ity a9�u 1983 A.S4,'LS Terporary irnashoa'its 61,506 2,737 577,292 1,996 74,009 3,188 181,Ta6 902,454 i,131,359 A000u�ts rec;eivable 10,018 10,018 694 Taxes t�ec3eivable: L�f'ert�ed special �ts 11,790 11,790 14,244 S�ecial ass�na�ts 680 680 513 Ad valcren 2,484 2,484 3e999 L1ae fY+an flrds 2,448 t32r753 1�,201 482,519 LUe fYrm otl� gv✓s�ra�ts 41,1'l$ 335 13i1,063 175,576 225,4'T4 ZOtAt. AS'SELS f02,684 2,737 577,292 26,932 T4,344 134,063 3,188 316,963 1,?�8,z03 1�b58,T92 L.1ABII..T1�T At� FLrID BAtAN� I ln Liabilitias Aooants pqyable 14,132 1,055 15,�6 31,013 8�53� L1�e to ott�r f1�ds 865 132,753 t33,6t8 63T,1&I L�f'ers�ed revave 11,790 11,7'90 14,2 Terperacy oaBtructim ]t�t D 91,047 Tota1 Liabiliti� 0$ 0$ 0 Z6,�$( 0 133,808 0 i5,825 176,421 751,005 Flnd Ba]arnes R�ved 5,6T9 5,679 89,9'75 [Y�r�se^ved 97,005 2,737 577,292 145 74,3�W 3,188 3Dt,137 1,056,103 1,017,812 'Ibtal Elr�d �7� 102,68�! 2,737 5�7,292 145 74,344 2� 3,188 3D1,137 1,061,'�82 1,1OT,787 1UfAL I.IABII.IT� MID �ID BAtAN� 102,684 2,731 STl.� �b,932 74,344 134,Ob3 3,188 316,9b3 t�238,�3 1,858,792 (SeE D�CS YA fimmial ��,g) I aty of a�o�� S�ecial f�we�ae FLr,as QP'BINIlV(i SfATF1"Fldf CF �.11E1QE5, F�fl�IDTlilf�, ADID Q�IA[S�5 1N FZI�ID BAt� (Qntinaed te�ct pAge) Year IIided Deo��ber 31, 1984 With Osnparative 1bta13 fcr the Year II��ded Deoad�er 31, 1983 Fedaal �veue gerirg FLr�d Anti-Iboes.sim Fisoal Aid Ffx�d Ai�lic Hnployeas �tirara�t Flyd p� Ova^ ae^ �hde�(-) Ik�der(-) tkrl�{-) Bui�et Act�al Budget Budget Actual Hud� Bud�et Actial Bu�get f�vaues Tttta�guverrtns�rtal Feaaai �ts ��o,oe� ibo,o�i o o o r,�te�a,e�,ffi,ta� �bo,os> >6�i,o�� o$ o$ o o$ o� o 0 NHsoeLl�eais irne�t m irrv�nazts 3D,000 33,540 3,540 2�0 7b0 60 Y�,aoo 58�842 3,� Tatal Misc�e]lar,eas 3D,000 33,540 3,540 20o Zbo 6o Y��000 58,842 3,� Total I�veYa� 79o,oBt t93�62t 3,54o eoo 2bo 60 �,000 58,842 3,� Fkpe�ditau�es O� F�asaal sevio� 0 0 'T8,6?a 78 O 75 '�5 0. 0 2,900 2,812 .88 I 1bka1 pcpadi,tu,es '�5 75 0 0 0 0 81,525 81,43T -88 Ekor�s cr Deficit(-) of 1�v�a,aas ovg^ Eicpe�ditares 19�,006 193�546 3�540 200 260 60 �1i,525 -,'2,595 3,930 Orhr Fir�cirg Saaroas cr U� Operatirg transfers wt �27sr�6 �2T,818 50,648 0 0 Total OYha Firencirg Saro� a� i�es(-) �78,466 �ZT,818 50,648 0 0 0 0 0 0 Fkoess m Deficit( of A2vezae�s �d Sas'eea Over �end�t�mas ard ott,a^tk�es -SB,46o 3�,2T2 54,a86 200 260 60 -26,5� -22,595 3�93D FLnd 831arnes Janary 1 136�956 136,956 0 2,477 2,4'17 0 999,851 999,8g( 0 F1rd &�larnes Decad�a^ 31 �saved 5,679 5,679 0 0 0 ixa�aved 42,817 9'7,005 54,188 2,6TT 2,737 60 5T3,33Ea22 57'T,292 3,930 Total FLtrl �larn�s Daoanbe� 31 48,49b 102,684 54,186 2,6TT 2,73T b� 573,362 577,2gL 3r93� w� �r w w� r w� r �r r r r� r r aty of o�- s.z �ecial 1�ve�ae �1xds O�SIldIIJG SfA1FM�Nf (F F�1lQ�[16, F7�II�IDTIUf�S, ADID QiA[�5 IN ELPID BALAN�S ((kntir�aed fYcm pricr pege) Year F}�ded DeombEr 31, 1984 With Canparative lbtals fcr the Year FY�ded Deoed�er 31, 1983 Disea.9ed 1Y+ee I�mval F1rd LQ�R ard Lawrx�i Flx�i Qarm�il.ty Develapnait Bla:k Qant hlzd Qrer Ove� Wa' Ikda'�-) (kda�(-) [hde'�-) Budget Actu�l Budget Bud�et Actual a.�dB'� Act�a1 Bu�t �va'uas 7t�tsgwerrit�tal: Feasal �►ts o$ 3,500 3,518 78 3a�,000 32�,587 i,587 Total intagove�rn�=nta1 o$ o 0 3,500 3�578 'l8 3Z0,000 321,5gf 1,567 azarg� fcr savioes: Fe�s �5,000 43r702 -1�29i8 0 0 Administrativ�e 5,000 3,420 -1,580 0 0 1bta1 Qrirgas fcr Sa^vio� 50,000 47,171 �,$T8 0 0 0 0 0 0 Mi.scellar�eois Int�t m irnr�oa�ts o 3,000 3,23T 23T o Other 2,000 4,209 2,�79 0 0 N Tbtal M[soel7aneo�s 2,000 4 2�ao9. 3�000 3,z3T 237 0 0 0 Tbtal �ve�rs 52,000 51,331 �69 6,500 6,815 315 32�,000 321,587 1,587 �i� Se'vioes and utY�er ctr�rgas 50 50�064 64 0 7,000 br'769 -�i1 Total Dcpa�dit�mes 50,000 50,064 64 0 0 0 7,fl00 6,769 ��"i1 Eycaess m Deficit(-) of E�va�aes U+a Dcpa�dit�aes 2,000 1,267 =T33 6,500 6,815 315 313,000 314,818 1,818 I�her Eirnncirg Sas�� a� tzses(-) �aticg trarBfers aut 0 �33,218 93,218 0 390,000 38T,135 2,865 Total Otha• Fir�encirg Saso� cr Usas(-) 0 0 0 �33,218 -93,218 0 390,000 3�ST,1� 2,865 F�roess cr Deficit(-) of F�vauss a�d Sast�as Ove- F�it+u�as axl0ttya• Us�s 2,000 1,267 733 �6,718 �6,403 315 7'T,000 72,317 4,683 I Flyd II�il2rnes Jartary 1 -1,1?2 -1,122 0 160,747 160,747 0 72,572 72,572 0 FLrd &�larnes lboanber 31 �eved 0 0 0 Ura�+esaved 878 145 733 74,029 74,344 315 -4,428 4,683 Total Elr�d Ha]�mas Lboeri� 31 878 145 733 74,029 74,3 315 -4,428 4,b83 i aty of a�yn m�te- �I aNenau�c srn�rrr ���s, n�arorn�s, ar� a�nivc�s n ru� Bnur�s arnir,.�a pri�r Year Ehded Deoed�a' 31, 19&4 Wittt �nparative lbtals fcr the Ye� FY�ded Deoa�er 31, 1983 C��a► S�ar;e L�'id Aoquisitim FLrd fk�irg a�d f�developoa3t Authcrity lbtals I Over A+� Ove� I tkide^( 1984 1984 CYida'( t983 Bud�et Actir�l Bu�get Bu�e� Ac�7. j 0$ 61,751 61,']5t 0$ 61,751 61,751 0 7nte�we'rt�ntalo p 0 483,581 485,2�16 1,665 5W,93D Feda'al �arrts T�al Iiri:egovarniattal 0$ 0 0 61,751 61,751 0 545,332 546,9gf 1,665 504,93� I Q�erges fcr savioes: 0 0 U5,000 43,70� -1,29g 17,298 FePs pdninistxative 0 0 5,000 3�� -1,580 1,815 Total Q�arges fcr Sevices 0 0 0 0 0 0 50,000 47,122 �,878 19,113 Miscellar�eas Int��t m inv�'►ts 300 319 19 6,000 6,605 G05 94r50o 102,803 8,303 1W,493 ptt�s^ 0 36�OOD 3z►r369 �i11 3I�000 38r598 1,598 284�381 1bta1 Misoel]ar�o4s 300 319 19 41,000 4o,q94 �i 131,500 141,401 9,9ot 3�8,874 i o� 'ib�al.F�ve�aes 300 319 19 102,751 102,745 -6 'TZb,832 735�5� 8,688 912,917 I, N F�SpadiYA.II'aS I Pa�scral s�via� 0 7,OOO 7,073 73 ��6�i �,696 73 7�677 Se�vioas ard oth� d�arg�as 0 Z65 3�i3,39'7 -1,�3 32��g15 3Zi -1,�8 661,549 Total pcpa�ditamas 0 0 0 ZT2,000 270,470 1,53D 410,600 408,815 1,785 669,?26 bco�ss ar DefYcit( of �ve'u� Ova• �cper�dit�u�es 300 319 19 1b9,�9 -167,7� 1,524 316,232 3z6,705 10,473 2 Ottr� Fir�ricing Sotaves ar ilses( P.�:s of G.O. ba�d sale 913,700 Operatirg trarBfas in 0 335r� 335r461 461 3�,00� 335r461 461 pperatirg transfas axt 0 0 761,684 7oB,171 53,513 �T3,868 Total Orher Firencing Saaves a�i�es(-) 0 0 0 335,000 335,461 461 -426,684 3T2,710 53,9T4 -60,168 Dco�.cs cr I�ficit(-) of F�ve»es and Saaaes We^ Dg�ditruBS ard Othg' Us� 3D0 319 19 165,751 167�736 1,9e5 110,452 J16,005 64,447 183,�i Ftx�d ffi.1�r� ,k�ary 1 2,869 2,869 0 133,401 133,401 0 1,107,7$( 1,107,787 0 924,Z64 ���31 0 0 5,679 5,679 0 89,9'15 ikffasa ved 3,169 3,188 19 299,152 301,137 1,9� 991,656 1,056,103 6G,447 1,017,812 Total FLr�d �larr�s I�'ber 31 3,169 3,188 19 299,152 3D1,137 1,9� 997,3$ 1 r 061 r7�? 64,4!17 1� �07�787 (See r� to fYrencial statsarrts) s■■ w� w� r �eww �i n� Cit�y 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- I term, general obligation debt other than that payable from special assessments and debt issued for an d serviced primarzly by the City. The Debt Service Funds are maintained on 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 related liability is incurred. The City's Debt Service funds included in this section are: Park Bonds Debt Service Fund: This Fund was established to account for the accumulation of resources for payment of principal and interest on general obligation bonds authorized by the electorate in 1957 to finance various park improvements. Library Bonds Debt Service Fund: This Fund was established to account for the accumulation of resources for payment of principal and interest on general obligation bonds authorized by the electorate in 1964 to finance the construction of the City Library. The Library was sold to Hennepin County during 1969 and the proceeds of the sale are used for making principal and interest payments. The taxes levied for debt redemption have been cancelled. General Obli�ation State Aid Street Bonds Debt Service: This Fund was established to account for the accumulation of resources (which include a combination of state aid allotments and special assessments) for payment of principal and interest on bonds issued in 1970 to finance a comprehensive improvement and upgrading of those arterial streets which qualify as state aid routes. 1969 Buiidin� and Improvement Debt Service Fund: This Fund was estabYished to account for the accumulation of resources for payment of principa 1 and interest on genera 1 obl igation bonds authorized by the electorate in 1968 to finance construction of the Civic Center, Municipal Service Garage, East Fire Station, and the development of existing parks. Park Bonds of 1980 Debt Service Fund: This Fund was established to account for the accumulation of resources for p�yment of principal and interest on general obligation bonds authorized by the electorate in 1980 to finance the improvement and eqipping of parks, parklands and related public recreational facilities. These improvements include neighborhood parks, Central Park, Palmer 1Vature Center, Shingle Creek Trailway and the Arboretum. General Obli�ation Tax Increment Bonds of 1983 Fund: This Fu�nd was established to account for the accumulation of resources for payment of principal and interest on genera� obligation bonds issued in 1983 to finance purchase of land and installation of utilities for housing for the elderly. City of Brooklyn Center Debt Service Funds COMBINING BALAN(� SHEET December 31, 1984 With Comparative Totals for December 37, 1983 State Aid Improvement Park G.O. Tax Incre- Totals Park Library Street Building Bonds ment Bonds Bonds Bonds Bonds Bonds of 1980 of 1983 1984 1983 ASSETS Temporary investments 169,996 71,110 173 322,810 147,877 160,131 872,097 643,595 Taxes receivable: Delinquent 195 20,239 14,426 34,860 46,648 Due from other funds 0 200,025 TOTAL ASSETS 170,191 71,110 173 343,049 162,303 160,131 906,957 890,268 LIABILIES AND FUND BALANCES Liabilities Advance collection of taxes 118 040 I Due to other ftinds 118,040 0 0 11,925 �I Total Liabilities 0$ 0$ 0.$ 0 118,040 0 118,040 11,925 Fund Balanee Reserved 173 3k3,049 44,263 160,131 547,616 660,717 I Unreserved 170,191 71,110 241,301 217,626 Total Fund Balances 170,191 71,110 173 343,049 44,263 160,131 788,917 878,343 TOTAL LIABILITIES AND FUND BALANCES$ 170,191 71,110 173 343 ,049 162,303 160,131 906,957 890,2b8 (See notes to financial statements) City of Brooklyn Center �2 Debt Service Funds COMBININC STATEMENT OF REVENUFS, EXPENDITURES, AND CHANCES IN FUND BALANCES Year Ended December 31, 1984 With Comparative Totals for the Year Ended December 31, 1983 State Aid Improvement Park G.O. Tax Incre- Totals Park Library Street Building Bonds ment Bonds Bonds Bonds Bonds Bonds of 1980 of 1983 1984 1983 Revenues General property taxes 199,800 174,741 8,074 382,615 280,957 Interest on investments 16,373 8,148 731 35,787 5,781 7,749 74,569 55,337 Intergovernmental revenue State shared taxes: State grants 0 90,884 Other 55 55 1,898 Total Revenues 16,373 8,148 731 235,587 180,522 15,878 457,239 429,076 Expenditures �Principal 10,000 60,000 135,000 50,000 255,000 240,000 Interest 380 29,940 55,250 108,420 55,575 249,565 210,230 Fiscal agent fees 23 63 178 106 197 567 390 Other 823 8,621 118,039 12T,483 0 Total Expenditures w____ 823 10,403 _90,003 199_049 276,565 S5,772 632,615 _450_620 I I Excess or Deficit(-) of Revenues �A i Over Expenditures 15,550 -2,255 �9,272 36,538 -96,043 -39,894 -175,37b -21,54A Other Financing Sources or Uses(-) Operating transfers in 89,445 89,445 293,825 Operating transfers out -3,495 -3,495 Total Other Financing Sources or Uses(-) 0 0 85,950 0 0 0 85,950 293,825 Excess or Deficit(-) of Revenues and r Other Sources over Expenditures 15,550 -2,255 -3,322 36,538 -96,043 -39,89�+ -89,b26 272,281 7 -�3-3 Fund Balances January 1 154,641 73,365 3,495 306 511 140 306 200 025 8 8 4 606 062 ,9 7 Fund Balances December 31 170,191 71,110 173 343,049 44,263 160,131 788 1 (See notes to financial statements) Cit of Brookl n y y Center, Minnesota CAPITAL PROJECTS FUNDS The Capital Projects Funds were established to account for all 1 resources used for the acquisition of capital facilities by the City except those financed by Special Assessment and Enterprise Funds. The Capital Projects Funds are maintained on 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 related liability is incurred. The City's Capital Projects Funds included in this section are: Capital Pro�jects Fund: This Fund was established in 1968 to provide funds, and to account for the expenditure of such funds, for major capital outlays (which shall 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 sources of revenue for the Fund include ad valorem taxation, transfers from other Funds, issuance of bonds, federal and state grants, and interest earnings. Municipal 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. City of Brooklyn �enter D-1 Capital Projects Funds CONIDINING BALANCE SHEET December 31, 198�+ With Comparative Totals for December 31, 1983 I I Municipal Ca.pital Sta.te Aid Totals Projects for Fund Construction 1984 1983 ASSETS Temporary investments 3,41�,410 3,118,742 6,533,152 4,551,258 Due from other funds 269,�13 269,413 117,517 Due from other governments 884,685 884,685 �113,050 TOTAL ASSETS 3,683,823 �+,003,427 7,687,250 5,081,825 LIABILTTIES AND FUND BALAN(� Liabilities Accounts payable 59,855 126 59,981 17,316 Contracts payable 433,784 �+33,784 107,359 Due ta other funds 399 6,937 7,336 481,402 Tota1 Liabilities 49�,038 7,063 501,101 606,077 Fund Balances Unexpended appropriations 241,125 9,862 250,987 305,505 Balance restricted to S�a�e- approved projects 2,100,092 2,100,092 1, 63�,239 Unreserved 2,948,660 1,886,410 4,835,070 2,536,004 Total Fund Balances M 3,189,785 N 3,996,36� M 7,186,149 N �,475,7�8 TOTAL LIABILITIFS AND FUND BALANCES 3,683 ,823 4,003,�27 7,687,250 5,081,825 (See notes to financial statements) -65- City of Brooklyn Center D-2 Capital Projects Fund CONIBINING STATENIENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BALANGE Year Ended Dece.naber 31, 198� With Comparative Totals for the Year Ended December 31, 1983 t Municipal Capital State Aid Totals Projects for Fund Construetion 198�4 1983 R evenues Intergovernmental: State �rants 559,235 559,235 508,661 Interest on znvestments 200,244 313,298 513,5�2 �1�9,030 Other 76,058 76,058 80,37�+ Total Revenues 276,302 872,533 1,1�48 1,038,065 Expenditures Capital Outlays 912,864 10,849 923,713 1,233,282 Total Expenditures 912,86�4 10,849 923,713 1,233,282 Excess or of Revenues Over Expenditures -636,562 861,684 225,122 -195,217 Qther Financing Sources or Uses(-) Operating transPers in 2,013,989 3,495 2,017,�84 357,108 Operating transfers out -132,205 -132,205 N___ 99,276 Total Other Financing Sources or Uses(-) 2,013,989 -128,710 1,885,279 257,832 Excess or Decifit(-) of Revenues 1 and Other Sources Over Expenditures and Other Uses 1,377,427 732,974 2,110,401 62,615 Fund Balance January 1 1,212,358 3,263�390 �+,�75,748 4,413,133 Residual�transfers in 600,000 600,000 0 Fund Balance December 31 3,189,785 7,186,149 4,475,7�8 (See notes to financial statements) -66- City of Brooklyn Center s_� Capitai Projects Fund PROJECT-LENGTEi SCE�DULE OF C�tSTRUCfION PROJECfS From Beginning to December 31, 1984 Park Federal State Comm. Fund Total Bonds Lawcon LCMR Develop. Balance Other Appropriations Expenditures Central Park Landscaping 55,496 53,247 108,743 97,086 Central Park/Garden City Trail 8,500 �2,500 34,OD0 85,000 85,966 Palmer Lake Basin 102,500 71,070 82,915 25b,485 228,271 Park Bonding Costs 17,$38 159 17,679 17,679 Central Park III 185,806 85,000 270,806 248,863 Arboretum 169,000 492 169,�►92 169,492 Neighborhood Parks 730,560 125,00�1 48,091 72,038 975,693 956,810 Shingle Creek Trailway II 300 98,450 78,760 16,190 193,700 167,111 Centrai Park II 75,000 95,628 47,814 40,000 26,429 284,871 284,871 TOTAL PARK BOND PROJEGTS 1,345,000 307,6�+8 296,736 165,00� 176,043 72,038 2,362,469 2,256,149 Unallocated Expenses 7,281 T,281 14�315 Central Park Plaza 155,000 323,976 478,976 470,476 Evergreen Park/Area improvement 323,480 68,930 392,410 272,733 Brookwood Utilities 463,690 463,690 336,255 t�kznic�pal Garage Improvements 207,200 370,800 578,000 561,590 v Lions Park west 73,392 73,392 75,173 I Civic Center Building Access 20,000 20,000 8,520 Civie Center Access 200,000 147,236 3�+7�236 318 Sidewalk GSirb Cuts 12,000 12,000 10,086 Solar De�nonstration Project 50,000 �p�ppp y9��g� Police Department Camnunications 225,000 225,000 220,307 C3ty Hall Elevator 65,000 65,000 52,674 Shingle Creek Trailway I 71,950 57,560 183,614 313,124 298,957 TOTAL PROJECTS 1,500,000 379,598 354,296 312,004 1,�+94,986 1,347,694 5,388,578 4,944,587 (See notes to financial statements) City of Brooklyn Center s_�} Municipal State Aid Construetion Fund PROJECT-LENGTH SCI�DULE OF CONSTRUCTION PROJECTS From Beginning to December 31, 1984 Appropriation Expenditures Project Street improvement 48 Channelization Highway ��152 and 65th Street 3,038 2,916 Pedestrian bridge Brookdale 182,005 172,217 Totals 185,043 175,181 -68- City of Brooklyn Center, Minnesota SPECIAL ASSESSMENT FUNDS The Special Assessment Funds were established to account for the resources and expenditures required for the acquisition and construc- tion of capital facilities or improvements financed wholly or in part by special assessments levied against benefited properties, and to pay principal and interest on the general obligation special assessment bonds sold to finance these improvements. The method of financing these projects distinguishes special assessment improvements from those which benefit the entire City and which are financed by general revenues or general obligation bonds. The City�s Special Assessment Funds are maintained on 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 related liability is incurred. There are nineteen Special Assessment Funds included in this section. The Fund names indicate the year that the bonds were issued to finance the various improvement projects contained therein. City of �rooklyn Cslter Speci.al A�nait F1u�ds (X�'BIlVIIVG BALAN� 3�ET 31, 1984 With C�rative Totals f� Ibcer�ber 31, 1983 B�d ��1 1955A 1956AC 19568 1957� 1958A 1958B 1959� 1960AB 1g61AB AS4,IS T�ary irivestrr�ts Z74 9,355 18,341 1,941 �,700 14,4�3 13,255 6,105 32,72�4 38,529 Aecot�ts treoeivable Special assessr�ents r+eceivable: Defexred 2,197 4,045 70 I�linquPnt 101 623 18�4 I�,ie fYrm otY�er ft�ds Bond disc:cx�ts i 'IC�I'AL ASSEIS 27� 9�35� �8�341 �94� 4�700 14,�+93 13�255 8��03 37�392 38�7g3 1.TAR ILITI6 ATID F'[II�ID BALAN� Liabilities Aoca�ts payable t Aocxued interes�t payable Aie to ot.1� flands 27�+ 9,355 18,3�+1 1,941 �+,700 1�,493 13,045 �+,882 31,�3 38,456 Constructirn lcens payable Deferr�ed r�rran.ie 2,197 �4,045 70 Bax�s payable Total Liabilities Zj� 9,355 18,3z11 1,941 �4,700 1�4 13,045 7,079 35,488 38,526 Flu�d Ikbt Sexvioe 0 0 0 0 0 0 210 1,324 1,904 Ur�xp�r�ed appropriati� Total FLuxi F�lar�es 0 0 0 0 0 0 210 1, 32�4 1,904 257 NI'AL LIABILIT� AI�ID FUND BAL,AN� 27� 9,355 18:3�-E1 1,9�1 b,700 14 ,493 13,255 8,�I03 37,392 38,'783 -r (See notes to finaneial statenents) -69- 1 �1 I T�� c��t�� 1 1963A 1965A 1966A 1969A 1�'70 1q73 1976 1982 FLmcl 198� 1983 435,391 1T�,331 160,715 124 543,02�4 134,785 �402,117 888,218 135,356 3,083,�70 ���32, 9,383 12,388 70,460 1,303 93,53� 161,�85 5,�►00 2�,�68 �,379 93,357 82,592 z7o,�+23 2,119 �0,886 2,857,574 3,1�2,397 459 5� �-I09 1,281 43,1�10 11,359 9,566 �16,89�+ 7,�82 122,083 156,928 9,020 9,020 213 ,718 0 �k1,200 435,850 125,316 1�,492 180,476 679,521 �38 ,119 694,494 3,125,429 35�,047 6,165,681 8,128,310 3,017 3,017 5,702 �+1,387 �1,3$7 0 8,356 7,�30 8,771 161,487 185,469 1 340,338 340,338 252,372 5 24��8 5���9 �3�� 82,592 2r(0�423 2�119s�57 200�886 2�857r57� 3�����97 10,000 50,000 80,OQ0 20�,000 �35,000 2,�125,00(} 3,205,000 3,855,000 0 15,��00 82,724 141,809 298,357 82,592 705,�+23 �+:547,874 591,382 6,608,803 7,4�,9�0 435,850 109, 102,768 38,667 381,16'-4 't55,527 -10,92� -1,�422,�l5 -�27, -z►33 ,067 716,567 -10�055 -10�055 435:�50 109 102,768 38,�7 3g1,164 155,527 -1Q,929 -1,4?2,�15 -237:335 �43,122 707,37� 435,8�EJ 125,316 185,�+92 180,476 679,521 23�,�19 69�+:�+94 3,125,�29 35�,047 6,165,68� 8,128,310 -70- A City of �rooklyn Center Ez' �ecial A�ssnait F1ur1s 03�SII�IIIJG SfATII�IIJT f�VII�[]6, �II�IDTI��S ADID Q-lAb� IId FUDID HAI.AI� YESr Ehded Deoc�rber� 31, 1964 With �erative lbtals fm the Year FYried lbce�^ 31, 1983 Dcoess of Otha^ f�veiaes F�vex.�es Otl�a^ Sauroe �itur+es iLses Ard �xu� 19�34 a� Inte'�est m Assessr�t TYansfes BaY1 �tirn 1rarBfers �it�.u� FLrd �lar�oe Ftad ffilarxie Ela�d Total Irntesfiis'its Izr�� In Total Inte�est And Otha^ Out Ar�d Uses �k�narY 1 Ik�oar�a^ 37 Barl Ftu�d ��1 zI4 zT4 0 3,756 3,48� 3,482 o 1955A 9,357 9,355 �+2 0 128,111 -118,714 118,714 0 1956AC 18,492 18,3i11 151 0 251,172 �i2,680 232,680 0 1956B 1,941 1,941 0 26,585 -24,6�W 24,6�W 0 1957AB 4,700 4,700 0 64,359 -59,659 59,b59 1958A 14,493 14,493 0 203,529 -189,036 189,036 0 19� 13,731 11,936 1,'T95 0 164,4� -150,701 150,91t 210 I 1959� 6,09'T 4,882 1,215 16 16 64,117 �8,035 A,360 1,324 �96oas 32,788 3�,443 1,345 0 440,283 �0'7,495 �09,399 �,90�► 19b1AB 38,TT4 38,u56 318 0 526,497 -487,723 4�(,980 25l 1963A 51,133 �4,411 6,'T22 590 540 50 50,543 395,307 u35,�o 1965A 18,723 12,565 6,158 781 760 21 17,942 91,9'74 109,916 1966A 31,282 17,111 14,171 3,390 3,3�10 50 27,892 74,876 102,768 I 1969A 55,212 13,292 41,92D 6,933 6,825 108 118,279 -9,612 38,667 19'70 160,406 61,072 99,33�1 27,592 21,7u5 5,847 132,814 2�18,350 381,164 1I13 66,776 28,353 38,423 9,086 9�019 67 57,690 97,837 1�,527 1976 111,742 �,281 76,46t 2 2�+,100 49 87,593 �8,5?� -10,929 1982 7�0,071 67,Z79 672,'T92 4Z6,67o 351,915 74,'�55 313,401 -1,735,846 -1,422,445 �mtn.�tim 418 418 42,760 188,883 39,133 149,750 8,771 -154,476 �2,859 �3(,335 Totals i984 �,37b,45o �i5,�85 961,265 �,76o g 688,090 ��+57,377 �,7�3 �,88i,6�2 -7,�50,492 707,370 -443,�22 Totals 1983 1,694,841 373,452 1,273,�9 48,100 3�12,300 ?3�,62T 111,673 0 1,352,541 �l5,171 707,370 (See mtzs to firgr�cial stater�ts) City of Brooklyn Center S� Special Assessment Funds PROJECT-LENGTH SCI�DULE OF CONSTRUCTION PROJECTS From Beginning to December 31, 1984 Overexpended(-) Project Unexpended Type of Project Number Appropriations Expenditures Appropriations Sanitary sewer 84-5 0$ 1,048 -1,048 Water main 84-8 0 747 -747 Water main 82-6 36,312 33,339 2,973 Street 82-7 36,1�+0 39,652 -3,512 Sanitary sewer 82-10 10,886 15,187 -4,301 Water main 82-11 10,49� 13,9�� -3,�20 93,832 103,887 10,055 (See notes to financial statements) r t _�2_ City of Brooklyn Center, Minnesota 1 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. Re venues 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: Munici�al Liquor Fund: This Fund was established to account for the operations of the City's three municipal off-sale liquor stores. Public Utilities Fund: This Fund was established to account for the operations of the City owned water and sanitary sewer systems. City of Brooklyn Center Enterprise Funds CONIDINING BALANCE SHEET December 31, 1984 With Canparative Totals F'or December 31, 1983 Municipal Public Totals Liquor IItilities Fund Fund 198�1 1983 ASSETS Current�Assets Cash on hand 3,900 3,900 3,900 Temporary investments 38,982 2,869,407 2,g08,389 2,559,142 Accounts receivable 15,301 93,992 109,293 103,030 Less: Allowance for estimated uncollectible -1,462 -1 462 -2 011 Assessments receivable 5,304 5,304 6,429 Due from other funds 25,702 25,702 371 Due from other governments 59,363 59,363 13,137 Inventoriies: Materials and supplies 10,164 10,164 14,405 Merchandise for resale 236,381 236, 252,510 Prepaid expenses: M.W.C.C. char�es 71,776 71,776 74,187 Rent 3,930 3,930 3,361 Insurance 12,741 12,741 1,285 Maintenanee 3,192 430 3,622 2,850 Accrued water and sewer revenue 195,595 195,595 187,153 Total Glxrrent Assets 312,965 3,331,733 3,644,698 3,219,749 Restricted Assets Temporary investments 4,000,000 4,000,000 4,000,000 IAie from other governments 208,085 208,085 218,593 Debt retirement investments 135,245 135,2�45 131,805 Construction fl�nds invested 34,775 34,775 113,180 Assess. recv. deferred 104,734 104,734 118,031 Total Restricted Assets 0 4,�182,839 4,482,839 4,581,609 FixedAssets Mains and lines 11,771,858 11,771,858 10,950,432 Struetures 2,793,115 2,793,115 2,542,425 Equipment 137,656 352,119 489,775 468,0�3 Land 24,816 24,816 24,816 Land improvements 5,898 5,898 5,898 Leasehold improvements 56,197 56,197 56,197 Construction in progress 0 707,382 199,751 14,941,908 15,141,659 14,755,193 Less: Allowance for depreciation 156,308 3,644,1�10 3,800,448 3,5�7,926 Total Fixed Assets 43,443 __11,297,768 __11,341,211 __11,207,267 TOTALS 356,408 19,112,340 19,468,748 �==19�008,625 -73- F'_ 1 Municipal Fublic Totals Liquor Utilities Fund Fund 1984 1983 LIABTLITIES,_CONTRIBUTIONS AND RETAINED EARNINGS Cur�rent Liabilities R Accounts payable 104, 8,�#18 113,351 149,488 Contracts payable 4,344 4,344 67,250 Due to other funds 2,5�3 164,376 166,919 199,860 Accrued Liabilities 5,529 5,703 11,232 30,594 Acerued vaction and p sick pay 8 ,435 16,243 24,678 30,869 G1�rrent portion J.ong_ p term debt 45,000 45,000 40,000 Total Current Liabilities 121,440 244,084 365,52� 518,061 Long-Term Liabilities w Revenue bonds 360,000 360,000 400,000 Less: Current portion 45,000 45,000 40,000 Total Long-Term Liabil ities 0 315,000 315,000 360,000 Fund Equity Contributions 10,275 491 10 275 �91 10 220 2 1 9 Retainedearnings; Reserved: Metro Waste Control Conunission 208,085 208,085 218,593 1 Debt retirement 135,245 135,245 131,805 Construction fLinds 3�,775 34,775 113,180 Working capital 620,000 620,000 620,000 Restrieted assessments 104,734 10�1,734 118,031 P1ant expansion 4,000,000 4,000,000 4,000,000 Unreserved 234,968 3,17�,926 3,409,894 2,708,664 Total Retained Earnings 234,968 TM 8,277,765 8,512,733 7,910,273 Tota1 Fund Equity 23�,968 18,553,256 18,788,224 18,130,564 I TOTALS 356,408 19,112,340 19,468,748 19,008,625 (See notes to financial -74- II'I City of Brooklyn Center F-2 Enterprise Funds COI�INING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS For the Year Ended December 31, 1984 With Comparative Totals for the Year Ended December 31, 1983 Municipal Public Totals Liquor Utilities Fund Fund 198� 1983 Operating Revenues M Gross margin on product sales 505,388 505,38$ 513,210 Charges for services M------N-- N_ 1 S69,836 1,569,836 1,479,i02 Total Operating Revenues 505,388 1,569,836 2,075,224 1,992,312 Opera�ing Expenses Personal services 236,863 230,009 466,872 502,272 Contractual services 108,765 1,122,9�t9 1,231,71�4 1,180,590 Supplies and materials 10,528 71,872 82,400 45,268 Heat, light, power 22,362 125,386 147,748 132,338 Depreciation 10,362 242,160 252,522 248,210 O�her 12,691 12,691 6,617 Total Operating Expenses 401,571 1,792,376 2,193,9�7 2,115,295 Operating Income 103,817 -222,540 -118,723 -122,983 Nonoperating Revenues or Expenses(-) Interest earned ,437 725,432 733,869 699,043 Other revenue or expense(-) 1,440 91,706 93,146 23,656 Interest and fiscal agent fees -15,713 -15,713 -17,272 Nonoperating Totals 9,877 801,425 --l-- 811,302 Income Before Operating Transfers 113,694 578,885 692,579 582,��4 Operating Transfers Tn or Out(-) -100,000 9,881 90,119 115,000 Net Income 13,69�+ 588,766 602,460 �167,�44 Retained Earnings January 1 221,274 7,688,999 7,910,273 7,442,829 Retained Earnings December 31$ 234,968 8,277,765 8,512,733 7,910,273 (See notes to financial statements) -75- City of Brooklyn Center g-3 EntErprise Funds CON�INING STATEMENT OF CHANGFS IN FINANCIAL PQSITION (Continued next page) For the Year Ended December 31, 1984 With Comparative Totals for the Year Ended December 31, 19$3 Municipal Public Totals Liquor Utilities Fund 1984 Sources of Financial Resources Operations: Net income for year 13,694 588,766 602,460 467,444 Add: It�ns not r�quiring current ou�lay depreciation 10,362 242,160 252,522 2�48,210 Total Resources Provided By Operations 24,056 830,926 854,982 715,65�+ Contributions toward construction 50,200 50,200 5,292 Decrease in restricted assets 98,770 98,770 52,079 Total Sources 24,056 l 979,896 1,003,952 773,025 Uses of Financial Resources Furchase properties 1,979 38�+,b87 386,466 579,900 Debt retirement on bands 40,000 40,000 40,000 Amortization of deferred gain I� on sale of assets 0 10,595 Total Uses 1,979 424,487 426,466 630,495 Net Increase or Decrease(-) in Workin� Ca ital T- 22 077 55 40 486 g A 5, 9$ 577, 1�2,530 -76- f City of Brooklyn Center g-3 Enterprise Funds COMBINING STATEMENT OF CHANGES IN FINANCTAL PQSITION (Continued from For the Year Ended Dece�nber 31, 1984 prior page) With Compara�ive Totals for the Year Ended December 31, 1983 Municipal Public Totals Liquor U�ilities Fund Ftznd 1984 1983 �___�---_M. Elements of Increase or Decrease(-) in Working Capital Temporary investments -13,526 362,773 349 ,247 50,222 Aceounts receivable 13,709 6,897 6,$12 8,094 Assessments recEivable -1,125 -1,125 1,735 Due from o�hEr funds 25,331 25,331 -11,725 Due from ather governcaents 46,226 46,226 -29,797 znventories -16,129 -4,2�1 -20,370 10,661 Frepaid expenae 13,4Q4 3,018 10,386 2,965 Accrued revenue g,4�42 g�442 4�77g Accounts payable -b�,7$0 80,917 36,137 -68,819 Contracts payable 62,906 62,906 53,198 Due to other fl.inds 42,980 -10,039 32,941 1�b,393 Due to other governments 0 19,606 Current portion of long-term debt -5,000 -5,000 0 Acc�rued liabilities 26,419 -866 25,553 -22,663 Net Increase or Decrease( TN WORI�ING CAPITAL 22,077 555,409 577,486 1�42,530 (See notes to financial statements) i -77- City of $rooklyn Center F-4 Municipal Liquor Fund STATEMENT OF OPERATIONS Year Ended December 31, 198�t With Comparative Totals for the Year Ended December 31, 1983 ..M._ Year Ended Dece�nber 31, 198� 1983 Sales Liquor 765,639 808,782 Beer 1,201,841 1,249,725 Wine 322,414 306,146 soft drinl�s �1,312 40,876 Other merchandise 1�4,269 16,467 Total Sales (Net of Sales Taxes) �2,345,�475 2,421, Less: Cost of Sales Beginning�inventory 252,510 244,589 Purchases (Net of discounts) 1,823,958 1,g16,707 Merchandise available for sale 2,076,468 w 2,161,29b Less: Ending inventory 236,381 252,510 i Cost of Sales 1,840,087 1,908,786 Gross Mar�in 505,388 513,210 Operat,ing Expenses N- �401,571 �14,344 Op�rating Income 103,817 98,866 (See notes to financial statements) -78- City of Brooklyn Center F_5 Municipal Liquor Fund STATEMENT OF OPERATING EXFENSES Year Ended December 31, 1984 With Comparative Totals for the Year Ended December 31, 1983 Year Ended December 31, 1984 1983 Operating Expenses Personal services: Salaries and wages 210,043 209,927 Payroll Taxes 15, 18,990 IInployees Benefits 10,935 18,895 236,863 247,812 Contractual Services: Professional Services 2,�431 2,486 Insurannce 4,576 18,971 Maintenance and repairs �417 1,758 Rent and administration 97,069 74,957 Equipment rental 12,572 Miscellaneous 4�z72 2�g32 108,765 ��3�576 Supplies: General Supplies 10,528 11,657 i Heat, light and power 22,362 21,710 Depreciation ���362 �2�972 Other 12 691 7 Total Operating Expenses 401,571 �414�344 (See notes to financial statements) -79- I� I City of Brooklyn Center f Public Utilities Fund Balance Sheet December 31, 1984 With Comparative Totals for December 31, 1983 i Totals Water Sewer Accounts Accounts 198�4 1983 ASSETS------------ Current Assets Temporary investments 59�,827 2,27�+,580 2,869,407 2,506,634 Accounts receivable 46,996 46,996 93,992 100,589 Assessments receivable 5,304 5,304 6,429 Due from other funds 12,851 12,851 25,702 371 Due from other governments 59,363 59,363 13,137 Inventories materials and supplies 10,164 10,164 14,�05 Prepaid expenses 72,206 72,206 75,224 Aecrued revenue 5�,691 140,90�4 195,595 187,153 Total Current Assets 724,833 2,606,900 3,331,733 2,904,242 Restrieted Assets Temporary investments 3,700,000 300,000 4,000,000 4,000,000 Due from M.W.C.C. 208,085 208,085 218,593 Debt retirement investments 135,245 135,245 131,805 Construction funds invested 34,775 34,775 113,180 Assessments receivable deferred 104,734 104,734 118,031 Total Restricted Assets 3,97�,754 508,085 4,482,839 �,581,609 Fixed Assets�-------- Mains lines 6,889,081 4,882,777 11,771,858 10,950,432 Structures 1,852,516 940,599 2,793 2,542,425 Equipment 176,060 176,059 352,119 332,366 Land 24,816 24,816 24,816 Construction in progress 0 707,382 8,942,473 5,999,435 N 14,941,908 14,557,421 Less: Allowance for Depreciation 1,901,422 1,7�42,718 3,64�4,140 3,�401,980 Total Fixed Assets 7,041,051 4,256 11,297,768 11,155,441 TOTALS 7 '371,702 (See notes to financial statements) -80- F-6 Totals Water Sewer Accounts Accounts 198�4 1983 LIABILITIES, CONTRIBUTIONS ANA RETAINED EARNINGS Current Liabilities Accounts payable 8,418 8,418 89,335 Contracts payable 4,344 4,344 67,250 Due to other flznds 82,188 82,188 164,376 154,337 Accrued liabilities 21,946 21,946 21,080 Current portion of long-term debt u5,000 45,000 �0,000 Total Current Liabilities 161,896 82,188 244,08�1 372,002 Long-Term Liabilities Revenue 360,000 360,000 400,000 Less: Current Portion 45,000 45,000 40,000 Total Lon Term Liabilities g 315 000 0 315,000 360,000 Fund Equity Contributions 4,815,460 5,460,031 10,275,�91 10,220,291 Retained Earnings: Reserved: Metro Waste Control assets 208,085 208,085 218,593 Debt Retirement 135,245 135,245 131,805 Construction funds 34,775 34,775 113,180 Working Ca.pital 170,000 450,000 620,000 620,000 Appropriations and assessments 104,734 104,734 118,031 Plant expansion 3,700,000 300,000 4,000,000 4,000,000 Unreserved 2,303,528 871,398 3,174,926 2,487,390 Total Retained Earnings 6,448,282 __�1,829,483 ___8,277,765 7,688,999 Total Fund Equity 11,263 7,289,514 18,553,256 17,909,290 TOTALS 11,740,638 7,371,702 19,112,3�0 18,641,292 -81- City of Brookln Center F-7 Public Utilities Fund STATEMENT OF OPERATIONS AND CHANGES IN RETAINED EARNINGS For the Year Ended Aecember 31, 198� With Comparative Totals for the Yea.r Ended December 31, 1983 Totals I, Water Sewer Accounts Accounts 1984 1983 Operating Revenue N----- 457,392 1,065,337 1,522,729 1,466 772 Service to consumers Serviee hook-up charges 20,822 18,089 38,911 6,019 Sale of ineters (net) 488 488 -1,605 Penalties 3,856 3,852 7,708 7,916 Federal grants p ----'--7�-7 ----�5'9,-3- ----�'79,--- I Total Operating Revenue 482 558 1 08 2 8 1 6 8 6 1 4 102 Operating Expenses 596,085 ___1,196,291 _�_1_792,376 ___1,700,951 Operating Income or Loss(-) -113,527 -109,013 222,540 -221,849 Nonoperating Revenues or Expenses(-) Interest�Earned Investments �165,424 260,008 725,�32 658,523 Special Assessments 14,008 14,008 16 ,376 Metro Waste Control Corrnnission 7,096 7,096 7,661 Construction Funds 7,044 7,04�4 10,595 Other 9,881 63,558 73,�39 23,656 Interest and fiscal fees -15,713 -15,713 -17,272 Total Nonoperating �+80,644 330,662 811,306 699,539 Net Income 367,117 221,649 588,766 �+77,690 Retained Earnings January 1 6,081,165 1,607,83� 7,688,999 7,211,309 Ret in a ed Earnin s December 1 3 6 448 282 1 82 48 g 8 2 6 688 9, 3 77,7 5 7, ,999 (See notes to financial statments) -82- City of Brooklyn Center F-8 Public Utilities Fund WATER OPERATING EXPENSE For the Year Ended December 31, 1984 With Comparative Totals for the Year Ended December 31, 1983 Classification by Funetion N Year Ended December 31, Source of Admin- Customer Supply Transmission istration Accounting 1984 1983 Personal Services: Salaries and wages 27,198 �41,260 �41,259 23 ,063 132,780 119,92� Payroll t�es 9,293 9,293 11,203 Employee benefits 9,873 9 ,873 6,909 27,198 �+1,260 60,�+25 23,063 151,946 138,036 Contractual Services: Professional Services 1,595 6,355 890 8,840 9,643 Postage 9,�69 9,�69 9,371 Insurance 3,694 3,694 2,002 Repairs and ma.intenance 7,292 21,087 2,429 30,808 63,758 Rent and administration 71,802 71,802 52,159 Equipment rental 1,91�4 10,007 �+,693 16,614 5,475 8,887 29 ,356 88,822 14,162 141,227 1�2,�408 Supplies and materials 36,640 7,560 9,086 3,292 56,578 21,133 Heat, Light and Power: Electricity 103,348 103,348 91,730 Ga.s 6,672 6,672 3,958 I 110,020 0 0 0 110,020 95 ,688 Depreciation 58,293 78,021 136,314 145,128 Totals 241,038 156,197 158,333 �0,517 596,085 542,393 (See notes to financial statements) City of Brooklyn Center F-9 Public Utilities Fund SEWER OPERATING EXPENSE For the Year Ended December 31, 198� With Comparative Totals for the Year Ended December 31, 1983 Classification by Funetion Year Ended December 31, Disposaland Admin- Customer Pumping Transmission istration Accounting 198�4 1983 Personal Services: Salaries and wages 44,402 475 13,009 57,886 92,741 Payroll taxes 2,395 9,293 11,688 11,203 Employee benefits 8,�89 8,48g 12,480 46,797 �75 ------30�791 �-----------o 78,063 116,424 Contractual Services: i Professional Services 10,830 800 11,630 4, Postage 2,70�► 2,704 2,358 i Insurance 3,694 3,694 2,002 Repairs and maintena.nce 6,996 966 1,'580 9,542 19,040 Rent and administration 71,802 71,802 52,159 Equipment rental 1,410 10,007 4,694 16,111 10,528 Metro Waste Control Commission 845,466 845,466 811,271 City of Brooklyn Park 20,773 20,773 22,849 88�,065 2,376 Supplies and materials -------��571 -------�-958 -------5�722 Heat, Light and Power: Electricity 1�+,655 14,655 14,485 �S 605 106 711 455 15,260 106 0 0 15,366 14,940 Depreciation 39,682 66,164 105,8�46 90,110 Totals 990,375 74,079 12�,396 7,441 1,196,291 1,158 (See notes to financial statements) City of Brooklyn Center, Minnesota AGENCY FUND The Agency Fund was established to account for assets held by the City as an agent for other City Funds, governments, or individuals. The Agency Fund is maintained on the modified accrual basis of accounting. The City's Agency Fund included in this section is: Fire Department Relief Association A enc.y Fund: This fund was established to account for the col e 1 ction of ro ert t p p y axes by the City for the Brooklyn Center Volunteer Fire Department Relief Association to be used for fire fighters' pensions. Ci�y of Brooklyn Center G-1 Fire Department Relief Association Agency Fund STATENJENT OF CHANGFS IN ASSETS AND LIABTLITIES For the Year Ended December 31, 1984 Ba.l,ance Balance December 31, December 31, 1983 Additions Deductions 198�4 Assets Investments 9,763 833 10,596 Taxes receivable 1,400 �2 g Total Assets 11,163 833 42 11,954 Liabilities Prineipal�s balance 11,163 833 42 11,954 Total Liabilities 11,163 833 42 11,954 (See notes to financial statements) -85- I City of Brooklyn Center, Mi.nnesota 1 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. i City of Brooklyn Center H-1 SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS AND SOURCES For the Year Ended December 31, 1984 Balance Ba.lance Janua.ry 1, December 31 1 84 Aequisitions Disposals 1984 9 Investments in General Fixed Assets (At cost) Land and improvements 1,032,527 83 ,696 Buildings and improvements 1,116,223 (ineludes buildings) �+,459,124 72,659 4,531,783 Park properties t (includes buildings) 2,783,004 899,293 3,682,297 Furniture 385,783 1,900 387,683 Departmental equipment 2,588,350 238,�94 2,826,844 Storm sewers and street projects 12,551,191 197 12,748,817 Total Investments in General Fixed Assets 23,799,979 1,493,668 0$ 25,293,647 Sources of General Indebtedness 600,491 General Fund revenues (includes 600,491 ad valorem ta.xes) 3,886,360 290,271 4,176,631 Liquor bonds 304,571 30�4,571 Contributions 327,398 327,398 Special assessments 12,369,727 197,626 12,567,353 Ca.pital projects funds: G.O. bonds 3,129,798 3,129,798 Tax levies 265,243 265,243 Sale of assets 156,65� 156,65�1 Bebt Service Funds excess 198,386 198,386 Capital Projects Fund Balanee 1,168,600 956,731 2,125,331 Federal grants 1,071,142 49,040 1,120,182 State grants 321,609 321,609 Total Sources of Investments $__23,799,979 $___1,493,668 0 $__25,293,647 (See notes to financial statements) -86- City of Brooklyn Center g_2 SCHEDULE OF GENERAL FIXED ASSETS BY FUNCTION AND ACTIVITY December 31, 198�4 Streets and Storm Funetion Total Land Buildings Equipment Sewers_ General government 17,079,567 1,116 3,214,527 12,748,817 General government buildings 4,531,783 4,531,783 Parks (includes buildings) 3,682,297 3,682,297 Totals $_==?�,798,520 �___�,531,783 12, 748,817 i (See notes to fina.neial state�ments) 1 1 1 1 1 -8�_ City of Brooklyn Center g-3 SCHEDULE OF CHANGFS IN GENERAL FIXED ASSETS BY FUNGTION AND ACTIVITY Year Ended December 31, 1984 Balance Ba.lance January 1, December 31, 1984__ N Acquisitions Disposals ____1984 i General government 16,557,851 521,716 17,079,567 I General government buildings 4,459,12�4 72,659 4,531,783 j Parks (including buildings) 2,783,004 899,293 3 682 2 I 97 I Totals $__23,799�979 �__?5,293,6�7 (See notes to financial statements) �i -88- City of Brooklyn Center, Minnesota GENERAL LONG-TERM DEBT ACCOUNT GROUP The General Long-Term Debt Account Graup 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 a Special Assessment Fund or an Enterprise Fund of the City. City of Brooklyn Center I COMPARATIVE SCI�DULE OF GENERAL LONG-TERM DEBT December 31, 1984 With Comparative Totals for December 31, 1983 December 31, Amounts Available and to be Provided Amounts available in Debt Service Funds 788,917 878 ,3�+3 Amounts to be provided: From fl.iture ta.x levies 2,634 2,792,865 From future gas tax allocations 420,000 N-- �80,000 Total Available and to be Provided 3,8�3,15� 4,151,208 General Long-Term Debt Payable General Obligation Bonds 3,055,000 3,250,000 State Aid Street Bonds 420,000 480,000 Assessments on City property 93 ,534 161,685 Sick and vacation accruals 274,620 259,523 Total_General_Long (See notes to financial statements) -89- 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 coverages 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. With the exception of Table 9(Computation of Direct and Overlapping Debt) and information concerning school districts in the P�liscellaneous Statistical Facts section, all statistical information sources were internal City records. The source of Table 9 information was the Hennepin County Department of Finance. The sources of school district information were the various school districts. City of Brooklyn Center TABLE 1 GENERAL GOVERNMENTAL EXPENDITURES BY FUPICTION Last Ten Fiscal Years Co�rmunity General Public Safety Public Health Parks and Debt Pension Fiscal Year Covernment and Welfare Works Services Recreation Service Expense 1975 628,341 761,670 599,314 43,269 543,271 383,708 202,704 1976 722,116 849,672 692�545 62,014 633,935 411,730 190,890 1977 764,921 961,851 761,542 50,973 639,315 388,130 258,837 1978 868,776 1,151,480 733,615 66,423 795,116 380,180 (1) 1979 688,539 1,521,159 892�470 48,576 860,283 356,905 (1) 1980 839,907 1,442,619 1,103,166 37,336 917,224 332,139 (1) 1981 910,131 1,588,149 1,176,447 39,385 1,162,878 412,154 (1) I 1982 1,007,781 1,901,839 1,213r941 36,244 1,122,299 419��97 (1) 1983 1,054,064 1,875,122 1,288,081 28,663 1,268,907 450,620 (1) 198u 1,112,173 1,985,108 1,383,039 30,437 1,319,298 632,615 (1) Pension is allocated to other flxnetional ex enditures shown on this schedule (1) P Funds included in this table are the General Fund, Special Revenue Flznds, Capital Projects Funds, Debt Service Funds, and the Public Utilities Fund. City of Brooklyn Center TABLE 2 REVENUE OT[-�R THAN SPECIAL ASSESSMENTS Last Ten Fiscal Years Net Income Before Charges for Transfers Out General Qzrrent Property Shared Services and Licenses Eines and Public Liquor Fiscal Year Taxes Taxes Other Revenue and Permits Foreitures Utilities Stores 1975 1,745,667 1,024,571 432,083 101,380 42,9�0 381,458 150,902 1976 1,725,854 1,432,745 486,371 102,399 48,475 103,8u8 147,143 1977 1,880,700 1,557,843 472,410 131,107 54,420 187,560 121,536 1978 1,883,7k5 1,604,452 494,772 179,062 68,281 351,732 134,841 1979 2,272,323 1,887,093 71u,894 186,464 82,466 5u6,930 161,994 1980 2,416,973 2,731,611 1,127,085 195,931 111,382 937,798 142,456 1981 2,034,252 3,724,683 1,579,396 207,100 111,596 877,668 155,519 I 1982 2,303,�04 3,114,290 1,684,481 249,015 146,204 677,762 102,172 1983 2,414,816 3,563,608 2,098,987 328,019 154,812 477,690 104,754 1984 2,851,517 3,568,975 2,109,744 296,667 158,823 578,885 113,69u ru �■r a� rs r �r a� a■� r City of Brooklyn Center TABLE 3 TAX LEVIES AND TAX COLLECTIONS Last Ten Fiscal Years Ratio of Collections Percentage Colleetions Accumulated of (�rrent Levy of Prior Ratio of Delinquent Year's Taxes Collected Year`s Taxes Total Accumulated Taxes to Year During Fiscal During Fiscal During Fiscal Total Collections Delinquent Current Year Collected Tax Levy Period Period Period Collections of Tax Levy Taxes Tax Levy 1975 1,728,986 1,678,567 97.08 61,791 1,740,358 1.0066:1 144,641 .08366:1 1976 1,715,170 1,521,690 88.72 56,229 1,577,919 •9200:1 281,903 •1b436:1 1977 1,880,700 1,694,382 90.09 198,250 1,892,632 1.00b3:1 269,971 .14355:1 1978 2,060,012 1,995,621 96.87 163,701 2,159,322 1.0482:1 170,662 .08285:1 1979 2,316,550 2,277,597 98•32 58,083 2�335,680 1.0083:1 1u6,ou2 .063o4:t 1980 2,35o,73u 2,306,803 98.13 62,371 2,369,174 1.0078:1 135,953 •05783:1 1981 2,746,020 2,619,758 95.�0 27,183 2,646,9u1 •9639:1 235,032 .08559:1 1982 2,965,702 2,854,688 96.26 45,419 2�900,107 .9779:1 300,627 .10137:1 i� 1983 2,482,369 2,420,772 97•52 75,437 2�u96,209 1.0056:1 286,787 .11553:1 1984 2,836,968 2,721,413 95.93 111,595 2,833,009 .9986:1 290,746 .10248:1 i I City of �rooklyn Ce�ter TABIE 4 A.� VALUE AAID [i'�f VAC� CF A[L TAXAHE PFXFERfY [ast Tet Fisoai Years 1976 19'77' 9978 1979 1980 1�1 7962 1983 1984 1985 R�xilatim (Actial) 37,081 36,116 34 33,700 32,950 31,�D 3�,990 30,83� 3Qr830 30,82'0 F�al Prq�rtY p valiae: City: Har�estmd 62,354,181 69,130,468 67,641,018 72,0'J5,015 70,506,973 82,133,535 74,268,430 75,a2,072 78,112,774 81,072,1� I I� Iy.�.�:� and na�Y�ar�esteed 47,138,412 50,356,911 53,976,290 54,893,2Z1 63,605,303 80,626,961 104,715,944 122,369,087 124,305,�3 126,444,994 Ar�ea••wide alloc3atirn (net) 133�422 -201�Z06 -1�190�083 -1�464�192 -1 -1�680�827 -���7,630 -t,437,2�►3 3�366�456 -2�1311�213 109,626,015 119,�6,173 120,427,2z5 125,504,050 132,2E0,080 161,079,G69 176,626,744 196,183,916 199,052,171 �5,382,909 Less Ta�c Ir�x�ersit Dis�trict 0 0 0 0 0 0 0 0 78,000 742,474 Total �.�d valiae 109,626,015 119,�b�173 120,4Z7,7r� 12�i,504,050 132,2E0,080 161,079,669 176,626,74�1 196,183,916 198,974,171 204,640,435 Estitmated Ngticet Val�ae 3p1,639,7'�a 329,463,243 381,92b,9� 396,811,532 451,519,456 604,637,366 657,701,757 725,476,089 775,162,400 788,107,800 �^saal Pr�op�ty W p ..�-�-o,: value 2,800,885 3��34,703 3,531,911 4,3�9,397 3,816,7bb 4,027��36 4,113,767 3,973,587 U,148,726 4,276,22t Estinated �icet vaLae 6,505,874 7�059�986 8,227,'T0� 10,207,900 8,87�b,200 9,365,200 9,566,900 9,Z40,000 9,648,�0 9,9tW,700 1bta1 'i�able Pr�ope�ty I Asa.�;�,: vaLae 112,426,900 122�32D 123r965�13b 129�893r�7 136,096�846 165�106�7�5 18�J�740,511 200�157�503 2�3�172��97 2�8�916,656 Fsturated merket value 308,1�,599 336,523,?29 390,154,655 407,019,432 460,395,656 614,002,566 667,268,65T 734,716,089 784,810,600 798,052,500 F�tio of A�.�.�«] Value to Fsturated [�rlcet valaae .3648 .363l18:1 .31'T'T33:1 .319133:1 .29561:1 .26890:1 .Z1096:1 .272�13:1 .25882:1 .261'78:1 P� (hpita Vali.atirns A�.��: value 3,031.93 3,38b.89 3,634.� 3,854.40 4,130.41 5,286.80 5,832.?2 6,492.30 6,588.48 6,778.61 Fsti�ted NHr�cet Ualue 8,310.07 9,317•84 11,438.13 12,077.73 13,972.Y� 19,660.66 21,531.74 23,831.21 25,456.07 25,893.98 i r� Nr rr r rr r w�w r rr r r w� �r I I City of E4roolclyn Ce�t.er T� 5 TAX RA1E5 AI�ID TAX [EUIES L�,st Te� Fis�l Years TAX RA'1F� (NIII�.S) Sc3x�o1 District Total City, �'nol, Ozu�tY, arri State N.H.S. O�tnty Year Ar� Vo�Ted; No. 2E6 Pb. 279 No. �1 Pb. 11 ard S�ecial ISD No. 286 Z5D t�b. 279 Bb. �i I�b. 11 Collectible City (1) Sci'iool (E�rl L�rxn) (C�seo) (R�bbinsdale) (Arnka) Districts (Farl �a'n) (ft�bbinsda]Q). (Ar�nka) 19'76 15.607 2759 54•Z04 53•�35 49•043 55•Zf 31.275 103•�5 103•076 9�•684 102.152 i977 15.7� 2.485 52.663 53.648 49.875 58.4 3�►.063 1W.936 105.921 �02.�48 1o8.i88 1978 16.646 2.123 53•537 52.434 49•69 �•84 �.086 107.392 106.289 103•545 107.572 1979 17.� 2.?z( 47-451 45.073 46.645 �7.706 35.45 103.008 100.63 1Q2.202 101.036 1980 17.�5 1.681 42.981 39.345 41.473 43.212 34.58 96•487 92.851 94.979 95.037 1981 16.603 1.51 33.512 33.427 1 l0.75T 37.99b 33.3(3 �.998 84.913 92.2�3 8'7.972 i982 16.397 1.469 38.'181 42.993 50.524 4b.�+7 33.567 90.214 94.426 101.957 96.811 1983 15.9'71 1.119 42.896 46.0$ 52.901 45.474 33.557 93•543 96•662 iO3•5l18 95•002 19� 17.096 t.uub 49.965 54.909 58.326 55.2�i 35.ar1 1o3.5w 108.458 111.8'15 1o7.3z8 19�5 16.506 1.49 49•332 51.199 56.1 52•83 34•�3 101.771 103•638 1(38.539 103-T79 TA}� iEV� (D(Ii.ARS) Qxa�y Total C Ye� Arm Voa-Tbci'i [3a 28fi I3�. 2']9 No. �1 No. 11 Total and Special Schools, QasztY, Collectible ,sa�ool (�ari �r►) (�seo> (��nn�e) (nrnka) 5a�ooi �istz�icts city �a state I 1976 270,4� 1,681,'19'T 1,804,010 1,629,6� 'T89,077 6,174,947 3,511,979 1,752,564 11,439,490 1977 265 1�786��8 1�8�1�979 1�800�17� 910,679 6,598 �011 4�156�788 1�849r989 12�604�788 1978 ?31,488 1,�53,423 1,865,301 1,841,345 889,060 6,680,617 4,345,690 2,060,012 13,086,319 1979 252,(l99 1,763,�7 1,711,981 1,805,864 794,944 6,328,345 4,603,009 2,316,684 13,248,038 1980 203,�3 1,737,432 1,568,491 1,650,314 1,522,661 6,682,141 4,711,671 2,�0,962 13,744,7'74 1981 237,6(T! 1,939,916 1,636,937 2,058,145 766,9t2 6,639,57'f 5,925,084 2,947,7�7 15,512,378 1982 ?fi5,508 2,�I22,618 2,W1,005 2,606,004 881,7u5 8,236,�0 6,066,917 2,963,602 17,267,399 1g83 2D2,256 2,79D,8o8 2,625,207 2,781,573 1,049,119 9,�,963 6,716,839 3,203,274 19,3b9�076 1984 �,933 3,328,173 3,090,749 3,1'78,504 1,279,696 11,165,0� 7,095,080 3,452,694 21,702,829 1985 310�394 3�442�445 3,014,744 3�187�$21 l��b�533 11�2 7�207�150 3�460�339 21�909�426 (1) 7r�eLzias tax levy for tY�e i�irg �d �devel�ne�t Aut�ity of �roolc�}m Oaita of a�third mill. City of Brookiyn Center TABLE 6 SPECIAL ASSESSMENT COLLECTIQNS Last Ten Fiscal Years Percent Total �rrent Collections Total Outstanding Collection Collections U.irrent and Year Percent of Prior Totai to Current Delinquent Collected Total Levy Amount of Levy Years Collections Levy Assessments 1975 679�068 b�4,231 60.9999293� 153,107 5b7,338 $$3.5465668� 31u,700 19T6 736,438 404,362 54.907813% 40,337 #44,699 60.3851241� 606,439 1977 663�514 406,029 61.1937352� 233,678 639�707 96.41198�3% 630,246 1978 607,046 407,224 67.0828899� 168,477 575,701 94.8364704� b61,591 1979 585 105 461 550 8.88 2 4 7 3 77 �+39,371 900,921 153•975953� 345,775 1980 655,175 572,104 87.3207922� 239,038 St1,142 123•805396� 189,808 1981 395,�+39 335,859 84.9332008� 95,963 431,822 109•200661� 153,u25 1982 733,�98 649,472 88.5807108� 95,962 745,434 101.668853� 141,189 1983 981,733 908,531 92•5U35938% 5T,463 965�994 98.3968146� 156,928 1984 813,013 768,241 94.493077� 79,617 8�+7,858 104.285909� 122,083 I r �r r�r r �t a� r■� r� r City of Brooklyn Center TABLE 7 RATIO OF NET BONDED DEBT TO ASSESSED VALUE AND NET BONDED DEBT PER CAPITA Last Ten Fiscal Years Ratio of Net Less: Amount Bonded Debt Net Bonded Estimated Assessed Gross in Debt Net to Assessed Debt Per Fiscal Year Population Value Bonded Debt Service Funds Bonded Debt Values Capita 1975 37,081 100,386,566 7,605,000 2,115,984 5,489,016 .0547:1 148.03 1976 36,116 112,293,�+78 7,770,000 2,1�8,250 5,657,750 .0503�1 156.49 1977 34,110 122,320,876 7,015,000 2,193,710 4,821,290 .039��1 141•35 1976 33,700 123,965,136 6,215,000 2,652,259 3,562,741 .02873:1 105.72 1979 32,950 129,893,u47 5,475,000 3,138,481 2,336,519 .01799�1 70.91 1980 31,230 136,096,846 6,265,000 2,519,067 3,745,933 .02752:1 119•95 1981 30,990 165,106,705 5,650,000 3,031,398 2,618,602 .01586:1 84.50 1982 30,820 180,740,511 7,680,000 4,145,073 3,534,927 .01956:1 114.T0 rn 1983 30,830 200,157,503 7,985,000 4�,849,112 3,135,888 .01567:t 101.72 1984 30,820 203,122,897 7,040,000 3,3�+8,669 3,69i,331 .o18t7si 119.77 I City of Brooklyn Center Table 8 STAT�MENT OF LEGAL DEBT MARGIN December 31, 1984 Assessed value, January 1, 1984 $_208,916,656 Debt limit, 7.33� of assessed value (See Note A) 15,313,591 Total bonded debt 7,040,000 Deduetions (See Note 1B): A. Bonds: 1. Special Assessment Bonds 3,205,000 2. State Aid Street Bonds 420,000 3• Utility Revenue Bonds 360,000 4. Tax Inerement Bonds 930,000 �,915,000 B. General Debt Service Fund $05,309 5,720,309 Total Debt Applicable to Debt Limit 1,319,691 Legal Debt Margin, December 31, 198�1 13,993,900 Note: (A) M.S.A. Section �75•53 (See following page) Note: (B) M.S.A. Sectian 475•5i (See following page) -97- City of Brooklyn Center Table 8 STATEMENT OF LEGAL DEBT MARGIN December 31, 1984 (Continued) Note (A): M.S.A. Section �475.53 et seq. Limit on Net Debt- "Subdivision 1. Generally, except as otherwise provided in sections �75.51, no municipality, except a school district or a city of the first class, shall incur or be subject to a net debt in excess of 7•33 per cent of the assessed value." Note (B): M.S.A. Section 475•51 Definitions: "Subdivision 4. 'Net Debt' means the amount remaining after deductin� from its gross debt the amount of current revenues which are applicable within the a.ggregate of the prineipal of the following: (1) Obligations issued for improvements which are payable wholly or partly from the proceeds of special assessments levied upon property specially benefited thereby, including those which are general obligations of the municipality issuing them, if the municipality is entitled to reimbursements in whole or in part from the proceeds of the special assessments. (2) Warrants or orders having no definite or fixed maturity. (3) Obligations payable wholly from the income from revenue- producing conveniences. (4) Obligations to create or maintain a permanent improvement revolving fund. (5) Obligations issued for the acquisition, and betterment of public water-works systems, and public lighting, heating or power systems, and of any combination thereof or for any other public convenience from which a revenue is or may be derived. (6) Amount of all money and the face value of a11 securities held as a sinking fund for the extinguishment of obligations other than those deductible under this subdivision. (7) All other obligations which under the provisions of the statute authorizing their issuance are not to be included in computin� the net debt of the municipality. -98- i City of Brooklyn Center TABLE 9 COMPUTATION OF DIRECT AND OVERLAPPING DEBT December 31, 1984 City of Brooklyn Center Share Covernmental Unit Gross Debt Sinking Funds Net Debt Per Cent Amount Direct and Overlapping Debt Direct Debt: City of Brooklyn Center (1) 7,040,000 3,961,040 3,078,960 100% 3,078,960 Overlapping Debt: School Districts: No. 281 (Robbinsdale) 13 ,700,000 3,691,392 10,008,608 10.2p 1,020,878 No. 11 (Anoka) 14,725,000 1,659,132 13,065,868 5.9� 770,886 No. 279 (Osseo) 19,640,000 1,942,418 17,697,582 26.8$ 4,742,952 No. 286 (Brooklyn Center) 445,000 62,093 382,907 100� 382,907 Area Vocational Technical School No. 287 8,500,000 1,742,679 6,757,321 4.9$ 331,109 Metropolitan Transit 16,500,000 4,026,000 12,474,000 1.5� 187,110 Metropolitan Council (2) 30,700,000 22,973,686 7,726,314 1.5� 115,895 Metropolitan Airport (3) 0 0 0 0$ 0 Hennepin County 175,450,000 9,558,987 165,891,013 2•7� u,479,057 Hennepin County Park Reserve District 750,000 1,138,136 388,136 2.7� 10,480 I Total Overlapping Debt 280_410,000 �46,794 233_615,477 12,020,314 Total Direct and Overlapping Debt 287,450,000 50,755,563 236,694,437 15,099,274 (1) Includes $3,205,000 debt outstanding to be paid from special assessments, $420,000 debt outstanding on State Aid Street bonds, $360,000 debt outstanding on revenue bonds, and $930,000 debt outstanding on Tax Increment bonds. (2) Excludes $192,140,000 (less $26,040,953 in sinking flznds) of the Metropolitan Council issued G.O. sewer bonds. These sewer bonds are supported from sewer service charges to government unfts (including Brooklyn Center) within the metropolitan sewer system. (3) Excludes $118,195,000 (less $28,860,241 in sinking flxnds) of G.O. Airport bonds supported from airport user fees and rentals. Overlapping Comparative Net Debt Ratios Chargeable to City Total Direct Debt Debt Debt to assessed value 208,916,656) 7.22741528� 1.47377431� 5.75364097� Debt to market value 788,107,800) 1.91588947� 0.39067752� 1•52521195� Per capita debt, population 30,820) 489.92 99•90 390.02 r� �■r r r rr �r rr� ir r +�r r 1 City of Brooklyn Center TABLE 10 RATIO OF ANNUAL DEBT SERVICE EXPENDITURES FOR GENERAL BONDED DEBT TO TOTAL GENERAL EXPENDITURES Last Ten Fiscal Years Ratio of Total Debt Service Total General to General Year Princi al Interest Debt Service Expenditures* Expenditures p-- 1975 185,000 198,708 383,708 2,839,621 13.5126�+83� 1976 225,000 186,730 �+11,730 3,244,183 12.6913309� 1977 215,000 173,130 388,130 3,239,892 11 .9797203� 1978 220,000 160,180 380,180 4,146,063 9.16966288� 1979 210,000 146,905 356,905 5,267,380 6.77575949% 1980 195,000 13�►,211 329 ,211 7,931,555 4.150648g� 1981 185,000 226785 411,785 6,457,27� 6.37707181� 1982 195,000 22�+,100 419,100 7,188,860 5.829853�1� �983 240,000 210,620 450,620 7,509,29$ 6.0008272�� 198� 255,000 250,132 505,132 7,627,690 6.62234569� zncludes General, Special Revenue, Debt Service and Capital Projects Funds. -100- City of Brooklyn Center TABLE 11 SCI�DULE OF REVENUE BOND COVERAGE Last Ten Fiscal Years Ratio of Net Net Revenue Gross (1) Revenue to Debt Year Revenue Expenses Available Principal Interest Total Service 1975 1,107,926 556,573 551,353 30,000 28,275 58,275 9•461:1 1976 1,235,274 710,662 524,612 35,000 27,105 62,105 8.447:1 1977 1,1�+5,563 761,542 384,021 35,000 25,740 60,740 6.322:1 197� 1,371,519 817,15�+ 554,365 35,000 24,375 59,375 9•337:1 1979 1,572,244 82�4,417 747,827 35,000 23,010 58,010 12.89:1 1980 1,950,340 952,850 997,490 35,000 21,645 56,645 17.61:1 1g81 2,272,211 1,189,203 1,083,008 40,000 20,280 60,280 17.g7:1 1982 2,242,053 1,565,291 676,762 40,000 18,720 58,720 11 .53:1 1983 2,195,913 1,465,713 730,200 40,000 17,160 57,160 12.77:1 1984 2,386,974 1,550,216 836,758 40,000 15,600 55,600 15.05:1 (1) Excludes depreciation and interest on bonds. -101- City of Brooklyn Center TABLE 12 PROPERTY VALUE AND CONSTRUCTION Last Ten Fiscal Years Commercial Construction Residential Construction Property Value* Year Value Units Value Com�nercial Residential Non-Taxable 1975 3,915,836 39 1,164, 77,895,417 213,950,371 50,386,615 1976 1,757,755 65 1,919,500 82,820,196 251,332,282 50,386,615 1977 3,584,19$ 80 2,179,300 125,012,840 256 ,q14,115 50,386,615 1978 5,247,131 239 6,816,300 140,651,752 285,436,500 50,386,615 1979 $,209,39�+ 7b 3,392,700 161, 917,915 330,196,500 50,386,615 1980 12,5��,30p 43 3,061,000 215,536,256 392,096,600 52,828,091 1981 12,926,950 33 1,157,000 228,523,271 �+83,35�,800 52,828,091 1982 2,497,700 70 2,055,000 235,045,689 �+90,430,400 52,828,091 1983 5,3�2,000 1�0 8,677,800 268,460,800 506,701,600 52,828,091 1984 6,037,900 77 8,95�,300 241,274,889 586,929,400 62,287,088 Estimated market value -102- 1 City of Brooklyn Center TABLE_13 PRINCIPAL TAXPAYERS December 31, 1984 M N Percenta ge 1984 of total Market Market Taxpayers Type of Business Valuation Value Equitable Life Assurance Society of America Brookdale Shopping Center 26,197,900 3•32� Robert H. Bradley Office and Warehouse Building 1�6,177,400 1.80� Norman Chazin Apartment Buildings 10,202,200 1.29� Prudential Insurance Company S of America Land and Office Building 9,752,600 1.24� Twin Lake North Company Apartments 6,982,500 .88� Sea.rs Roebuck and Company Sears Department Store 6,409,500 .81� Commercial Partners Brookdale Square Shopping Center 6,258,500 .79� Brooklyn Center Office and Apartments Development Cornpany Building �,881,800 .62% Allied Central Stores Donaldson's Department Store and Car Center 8�47 900 61 Bennie Rozma.n Apartments 4,656 ,300 .59� Total_Market_Value ______11-95� -103- r r r r� r� r� r� City of Brooklyn Center TABLE 14 SUPM4ARY OF DEBT SERVICE REQUIREMENTS TO MATURITY December 31, 1984 G.O. Special G.O. State-Aid General Obligation Bonds Assessment Bonds Street Bonds Water Revenue Bonds Debt Service Requirement Year Principal Interest Principal Interest Principal Interest Prineipal Interest Prineipal Interest 1985 195,000 224,595 440,000 238,575 60,000 26,070 45,000 13,991 740,000 503,231 1986 215,000 210,458 325,000 210,935 60,000 22,140 45,000 12,285 645,000 �455,818 1987 275,000 193,339 315,000 189,795 60,000 18,165 45,000 10,530 695,000 411,829 1988 300,000 173,483 300,000 168,620 60,000 14,160 45,000 8,775 705,000 365,038 I 1989 325,000 151,833 280,000 147,480 60,000 10,125 45,000 7,020 710,000 316,458 1990 195,000 128,788 260,000 126,980 60,000 6,075 45,000 5,265 560,000 267,108 1991 355,000 108,445 260,000 107,070 60,000 2,025 45,000 3,510 720,000 221,050 I 1992 400,000 79,998 200,000 88,150 45,000 1,755 645,000 169,903 I 1993 410,000 48,968 175,000 71,387 585,000 120,355 199u 100,000 28,988 175,000 55,200 2 75,000 84,188 1995 100,000 20,588 175,000 38,�188 275,000 59,076 1996 125,000 10,869 150,000 22,500 275,000 33,369 1997 60,D00 2,700 150,000 7,500 210,000 10,200 3,055,000 1,383,052 3,205,000 1,472,680 420,000 98,760 360,000 63,]31 7,040,000 3,D17,623 City of Brooklyn Center Table 15 SC HEI�JL E OF INSURANCE COVERAGE December 31, 1984 e Polic Period Y Type of Coverage and Details From N____ To Liability Limits I. Statutory Liability to E�aployees a. Workers' Compensation 01-01-84 01-01-85 Statutory (participant in the League of Minnesota Cities Insurance Trust Self-Insured Workers' Compensation Program) II. Liability to the Public a. General liabilit Y� comprehensive 01-01-84 01-01-87 (1) Bodily injury $500,000 combined single limit (2) Property damage $500,000 combined single limit �3) Personal injury $500,000 combined single limit b. Automobile liability, comprehensive 01-01-84 01-01-85 (1) Bodily injury $500,000 occurrence (2) Property damage $500,000 occurrence �3) Uninsured motorist $500,000 occurrence c. Liquor stores' dram shop 01-01-84 01-01-85 $500,000 aggregate per location d. Umbrella liability 05-19-84 05-19-85 $5,000,000 aggregate, $10,000 retained limit III. Loss of Income on City Enterprises a. Li uor---- q stores 01-01-84 01-01-87 $50,000 per location b. Public utilities 01-01-84 01-01-87 $300,000 I -105- City of Brooklyn Center Table 15 SCHEDULE OF INSURANCE COVERAGE December 31, 1984 (Continued from prior page) Buildings and Policy Period Structures Content: (Replacement (Actual Type of Coverage and Details From To Cost) Cash Value) IV. Insurance on City Property 01-01-84 01-01-87 a. Public and institutional property, all risk, blanket $12,243,200; $100 deductible 90� co-insurance stated values (1) Civic Center �4,087,000 400,000 (2) East Fire Station 439,000 50,000 (3) Municipal Service Garage g96 ,000 120,000 (4) Elevated Water Towers 3 locations 2,277,000 (5) Park Shelter Buildings 17 locations 1,102,000 45,000 (6) Pump Houses 7 locations 382,000 108,000 (7) Lift Stations 9 locations 268,000 65,000 (8) Meter Station 12,000 (9) Storage Building 211,000 (10) Outdoor lighting systems 7 locations 25�,200 (11) Liquor Store and Fire Station �415,000 182,000 (12) Leased Liquor Stores -2- locations 314,000 (13) 1`1ovable Properties 154,97� (14) Pedestrian Bridge 374,000 (15) Picnic Shelter 42,000 (16) Maintenance Building 36,000 64,000 Liability Limits b. Boiler and machinery 02-01-84 01-01-85 $3,000,000 per accident c. Automotive physical damage 01-01-84 01-01-85 (1) Comprehensive ACV no deductible (2) Collision ACV $500 deductible V. Criminal Acts a. Faithful performance blanket position $100,000 per loss b. Money and securities (broad form) Various e. Depositor's forgery $100,000 The comprehensive general liability includes 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 -106- City of Brooklyn Center TABLE 16 SCHEDULE OF CASH AND TEMPORARY CASH INVESTNIENTS December 31, 1984 Cash in Banks: First Brookdale State Bank Brooklyn Center, Minnesota 1,248,040 First National Bank of Minneapolis, Minneapolis, Minnesota 20,981 Temporary Investments: Interest Type Rate Ma.turity Cost Bankers' Acceptance 10.55� 1985 �195,511 U.S. Treasury bills 10.92� 1985 2,198,108 U.S. Treasury notes 4.25-10.47� 1985-1992 3,573,065 Federal Land Bank bonds 7. 8.10� 1985-1987 1,198,245 Federal Home Loan Bank bonds 7. 1985-1987 4,099 ,280 Federal National Mortgage Association bonds 6.90 1985 5,689,001 Federal Farm Credit Bank bonds 9.05-13.20°b 1985 2,950,000 20,203,210 Interfund borrowings -(t�nporary improvement notes) 340,338 Accrued interest on investments 502,209 Change funds 4 535 22,319,313 Total_Cash -107- City of Brooklyn Center MISCELLANEOUS STATISTICAL FACTS December 31, 198� Date of Incorporation Februa.ry 14, 1911 Date of Adoption of City Charter November 8, 1966 I Date City Charter Effective December 8, 1966 Form of Government Council-Manager Fiscal Years Be ins Januar 1 g Y I Area of City 8 1/2 square miles Miles of Streets: City 120.1 County 3,2 State �2.7 Miles of Storm Sewers 38.g Number of Street Lights 933 Building Permits: Number of Permits Issued: 198� 5�+5 1983 660 1982 516 1981 518 1980 563 1979 606 1978 818 1977 566 1976 568 1975 645 Estimated Cost: 1984 15,606,35� 1983 16,096,550 1982 5,968,824 1981 16,190,205 1980 17 �+54, 690 1979 13 ,081,520 1978 13,081,520 1977 13,578,901 1976 6,228,087 1975 3,786,838 Fire Protection: Number of Stations 2 Number of Volunteer Firemen 37 Police Protection: Number of Stations 1 Number of Full-time Employees �40 Number of Part-time Employees 13 Police Department Vehieles 15 -108- City of Brooklyn Center MISCELLANEOUS STATISTICAL FACTS December 31, 1984 Parks and Recreation: Park property totals 522 acres developed to serve a wide variety of recreational interests. Areas include playlots, playgrounds, playfields, trails, nature areas and an arboretum. Full-time employees 13 Part-time employees (seasonal) 200 Playgrounds �7 Park shelters 17 Ice skating rinks Hockey rinks 6 Softball diamonds 28 Baseball diamonds 6 Tennis courts 16 Basketball courts 17 Municipal Water Plant: Number of connections 8,624 Average daily consumption 3,664,580 gallons Peak daily consumption 10,930,000 gallons Plant capacity daily 16,500,000 gallons Miles of water mains 110.24 miles Number of fire h drants 85 Y 7 Number of wells 9 Number of elevated reservoirs 3 Stora�e capacity 3,000,000 gallons Water rate per thousand 35 cents Municipal Sewer Plant: Number of connections 8,701 Miles of sa.nitary sewer 99.6 Daily disposal capacity 7,416,000 gallons Number of lift stations 9 Residential rate $21.25 per quarter Municipal Liquor Stores (Off-Sale): Number of owned stores 1 Number of leased stores 2 198�+ sales 2,3�5,475 City Employees: As of December 31, 1984 Permanent or regular 119 Temporary or part-time 160 Total 279 Elections: Last General Election 198� Registered voters 22,687 Votes cast 17,021 Pereentage of registered voters voting 75�b Last Municipal Election 1983 Re�istered voters 18,918 Votes cast 586 Percentage of registered voters voting 3� -109- City of Brooklyn Center MISCELLANEOUS STATISTICAL FACTS December 31, 1984 Po ulation: P 1 1�870 1950 4, 28�I 1960 24,356 1965 (special census) 30,108 198� 31,230 1981 (per official estimates) 30,990 1982 �Per official estimates) 30,820 1983 (per official estimates) 30,830 1984 (per official estimates) 30,820 Education: Public Schools School districts within Brooklyn Center (4) No. 11 No. 286 No. 2$1 No. 279 (Anoka) (Earl Brown) (Robbinsdale) (Osseo) -----------2 ----------21- Total school buildings School buildings within Brooklyn Center 1 2 1 3 Total students registered 30,552 1,310 1�1,630 16,478 Students from Brooklyn Center registered 1,103 1,310 700 2,039 Total square miles in school district 172 2.8 30 66.5 Square miles within Brooklyn Center 1.5 2.8 2.25 2.5 1984 assessed valuation 721,964,628 79,210,806 756,967,060 518,235,772 198� assessed valuation in Brooklyn Center 21,131,255 75,�86,551 61,468,110 53,707,427 Parochial schools (1) St. Alphonsus School grades �4 through 8- Total students registered 335 t Assessed valuation prior to fiscal disparies and tax increment calculations -110-