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HomeMy WebLinkAboutCAFR-1983 I COMPREHENSIVE ANNUAL AUDITED FINANCIAL REPORT of the CITY MANAGER of BROOKLYN CENTER, MINNESOTA 1 For The Year Ended December 31,1983 GERALD G. SPLINTER, CITY MANAGER Prepared by THE DEPARTMENT OF FINANCE �1 Paul W. Holmlund, Director 1 (Member of Municipal Finance Officers Association of the United States and Canada) City of Brooklyn Center COMPREHENSIVE ANNUAL FINANCIAL REPORT Year Ended December 31, 1983 t TABLE OF CONTENTS Exhibit Page Number Number INTRODUCTORY SECTION Title Page Table of Contents Listing of City Officials 1& 2 Organization Chart 3 L o c a t i o n M a p o f C i t y P r o p e r t i e s 4 City Manager's Letter 5& 6 Finance Director's Letter 7- 17 FINANCIAL SECTION Auditar's Opinion 18 Combined Statements Overview Combined Balance Sheet All Fund Types and Account Groups 1 19 20 Combined Statement of Revenues, Expenditures and Changes in Fund Balances All Governmental Fund Types 2 21 Combined Statement of Revenues, Expenditures and Changes in Fund Balances Budget (GAAP Basis) And Actual General and Special Revenue Funds 3 22 Combined Statement of Revenues, Expenses and Changes in Retained Earnings Proprietary Funds 4 23 Combined Statement of Changes in Financial Position Proprietary Funds 5 24 25 Notes to Financial Statements 26 45 1 City of Brooklyn Center COMPREHENSIVE ANNUAL FINANCIAL REPORT Year Ended December 31, 1983 TABLE OF CONTENTS Statement Schedule Page Number Number Combining and Individual Fund Financial Statements: General Fund: Comparative Balance Sheet A-1 46 Statement of Revenues, Expenditures and Changes in Fund Balance Budget (GAAP Basis) and Actual A-2 47 Statement of Revenue Budget and Actual Objective Classification A-3 48 50 Statement of Expenditures Compared to Budget (GAAP Basis) A-4 51 55 S ecial Revenue Funds: P Combining Balance Sheet B-1 56 Combining Statement of Revenues, Expenditures and Changes in Fund Balances B-2 57 62 Debt Service Funds: Combining Balance Sheet C-1 63 Combining Statement of Revenues, Expenditures and Changes in Fund Balances C-2 64 Ca ital Pro'ects Funds: P Combining Balance Sheet D-1 65 Combining Statement of Revenues, Expenditures and Changes in Fund Balances D-2 66 Project-Length Schedule of Construction Projects Capital Projects Fund S-1 67 Project-Length Schedule of Construction Projects Municipal State Aid Construction Fund S-2 68 City of Brooklyn Center COMPftEHENSIVE ANNUAL FINANCIAL ftEPOftT Year Ended December 31, 1983 TABLE OF CONTENTS Statement Schedule Page Number Number Special Assessment Funds: Combining Balance Sheet E-1 69 70 Combining Statement of Revenues, Expenditures and Changes in Fund Balances E-2 71 Project-Length Schedule of Construction Projects S-3 72 Enterprise Funds Combining B alance S heet 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-3 76 8� 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- 9 84 Agency Funds: Combining Statement of Changes in Assets and Liabilities All Agency Funds G-1 85 City of Brooklyn Center COMPREHENSIVE ANNUAL FINANCIAL REPORT Year Ended December 31, 1983 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 Schedule of General Fixed Assets By 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 T able Number General Governmental Expenditures by Funetion Last Ten Fiscal Years 1 90 Revenue Other Than Special Assessments Last Ten Fiscal 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 Years 1960 Through 1983 5 94 95 Special Assessment Collections Last Ten Years 6 96 Ratio of Net Bonded Debt to Assessed Value and Net Bonded Debt Per Capita Last Ten Years 7 97 City of Brooklyn Center COMPREHENSIVE ANNUAL FINANCIAL REPORT Year Ended December 31, 1983 TABLE OF CONTENTS Table Page Number Number Statement of Legal Debt Margins 8 98 8� 99 Computation of Direct and Overlapping Debt 9 100 Ratio of Annual Debt Service Expenditures for General Bonded Debt to Total General Expenditures 10 101 Schedule of Revenue Bond Coverage Last Ten Years 11 102 Property Value and Construction Last Ten Fiscal Years 12 103 Principal Taxpayers 13 104 Summary of Debt Service Requirements to Maturity 14 105 Schedule of Insurance Coverage 15 106 107 Schedule of Cash and Temporary Cash Investments 16 108 Miscellaneous Statistical Facts 109 112 City of Brooklyn Center LISTING OF CITY OFFICIALS For the Year Ended December 31, 1983 ELECTED OFFICIALS Term of Office Term Expires Mayor Dean Nyquist Two Years 12/31/85 Councilman Rich Theis Three Years 12/31/84 Councilman Bill Hawes Three Years 12/31/84 Councilman Gene Lhotka Three Years 12/31/85 Councilwoman Cecilia 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 Administrative Assistant Thomas Bublitz Administrative Assistant Brad Hoffman 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 Truman Nelson Assistant City Engineer James Grube Street and Park Superintendent Henry Davis Public Utilities Superintendent Craig Hoffman Recreation Superintendent Arnold Mavis Health Officer Duane Orn M. D. Fire Marshall Gerald Pedlar Sanitarian Thomas Heenan Civil Defense Coordinator James Lindsay -1- City of Brooklyn Center LISTING OF CITY OFFICIALS At May 31, 1984 ELECTED OFFICIALS Term of Office Term Expires Mayor Dean Nyquist Two Years 12/31/85 Councilman Rich Theis Three Years 12/31/84 Councilman Bill Hawes Three Years 12/31/84 Councilman Gene Lhotka Three Years 12/31/85 Councilwoman Cecilia 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 i�ichard Schieffer Department Heads: Finance Paul W Holmlund Public Works Sy Knapp Police James Lindsay Fire Ronald Boman Planning and Inspection Ronald War.ren Parks and Recreation Eugene Hagel Assessments Peter Koole Liquor Stores Truman Nelson 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 -2- r ORGANIZATION CHART COUNCIL MANAGER PLAN Ci�y of Brooklyn Center, Minnesot� ADVISOKY ELECTORATE CHARTER Cq�1MISSION I v ment Review Ad. Capital Impro e ADVISORY Youth Advisory Commission AUVISORY CITY COUNCIL tiousing Canmission ADVISORY CITY ATTORNEY Conservation Canmission Cit Mana er Administrative Assistant ADVISORY Y 9 Eiuman Rights Commi ssion City C2erk Purchasinq Officer ADVI SORY Parks and Recreation Commission ��=s 'v ssistants ADVISORY A dministrati e A r Planning Commission I Civil Defense I I 1 I� I 1 1 I 1 DIRECTUR DIRECTOR CHIEF DIRECTOR DIRECTOR CHIEF MANAGER DIRECTOR ASSESSOR Planning Finance Police of Parks and V�lunteer Liquor Public Tax and Department Department_ Environmental Recreation Fire Store r Works Assessment Inspection City Health Department Departinent Department Department DeparUnent Treasurer Departlnent City Government Enqineer Buildinqs r Engineering Street Public Division Division Utilities a ei �t r� �E i� 9� yi �i io a� �i i� �s �a 3i �E h 9� �ti 6�� ��11/ �_JLJ B I�S��.�'�' ��C� r, 1 r"`' Jr il 1 �i I I �1 CIIY O/ BNOOMLYN aN I t_y�' as.. L ..y !S J'� R_ �5 �.s�ua� .F! Ilrr �1� i�:... u y JI ,i J r �a�, w.��� uac I „e I i i —n T 3 II' I LJ C\ i i �u'�� ;^.r" 5 i—i ._,...1== --�i V����� a �A a p�'�- J- a o� r r s i i q !i.�,�\��'� I s i a i�i L.,._,..�,J E'� 'f j� �O❑ ���a�0 •�:-�K l�,'�� ���0� F r' j' ,�CI�� °L r w r �__5.�o E I �i-' 1t i =P y �i I r. M I `,p �.0 w.w MM Y14� I 1� a 4',4 I J II r f n 1 Y ��0�� t e ��ao� io,6 �I ����ao ����U M a, �.R j� t f N r �I I f I iY ly�') �u. M 000000�� 1 ��r �000i 0000� 4 I ...I �e o �s� q r.,..�.......�.�......n i �t,� .J ooaoaoa s��� o000o s ,'F`�', i -�o o ;r� aoo�ooa000� �o o �o w a 0000a000��Q �.K. o0o r o o000 .�K. .,Q. �'�000�_ �o�000 LOC1L STREET L� M O INDEX I 5� ��:�L� a��d�00000�� ..K.. Y 1��� t y y A��! P TWIN �4 �I LAKE ��..E.,,. �a��� �J! r� I I L .o..x. or .vwc�v tis i s e �j a L� CITY Of BROOKL�'i�' �N, �Q./ C E l�' T E R �r �a �E �I �I �a i�[�' /j u =�I! .�s.. J �.w.. ���J RYAN LAKE I J pF nOBB�NSO�tf r TWIN �;r ��EE �r� �I I i CITY GENERAL PROPERTIES A. Civic Center (City Hall Community Centerl B. West Fi�e Station Liquor Store No. 2 C. East Fire Station PARK SYSTEM KEY o. ��quor store No. 1 I�eased Provertyl 1. Willow Lane Park 13. Grandview Park E. Liquor Store No. 3(Leased Property) F. City Maintenance Building 2. Orchard Lane Park 14. Evergreen Park G. City Maintenance Annex 3. Kylewn Park 15. Bellvue Park H. Well No. 6, 1207 69th Avenue North 4. Lakeside Park 76. Marlin Park Well No. 7, 7230 Camden Avenue North 5. Brookla�e Park 17, Firehouse Park ,I, Water Tower No. 1 6. Wangstad Park 18. Riverdale Park K. Water TOwe� No. 2 7. Northport Park 19. Freeway Park L. Water Tower No. 3 8. Happy Hollow Park 20. Arboretum M. Lift Station No. t, 6112 Vincent Avenue North 9. Palmar Lake Park 21, River Ridge Park (Miss. River) N. Lift Station No. 2, 5450 Lyndale Avenue North 10. Garden City Park (Stete Owned) 11. Centnl Psrk O. Future Water Treatment and Mpintenance Annex 22, Twin Lake Beach Park P. Vacant 12. Lians Park (City State Owned) Q, Old Ciry Hall Site (Vacant) -4— CITY OF 6301 SHINGLE CREEK PARKWAY B ROOKLYN BROOKLYN CENTER, MtNNESOTA 55430 TELEPHONE 561-54�0 E N EMERGENCY—POLICE—FIRE TER 91 June 4, 1984 HONORABLE MAYOR AND MEMBERS OF CITY COUNCIL CITY OF BROOKLYN CENTER In accordance with State Statutes and Section 7.12 of the City Charter, I hereby transmit the comprehensive Annual Audited Financial Report of the City of Brooklyn Center as of December 31, 1983 and for the fiscal year then ended. Responsibility for both the accuracy of the presented data and the completeness and fairness of the presentation,including all disclosures,rests with the City. Management believes that the data as presented is aceurate in all material aspects; thab 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 maximun understanding of the City's financial affairs have been ineluded. In developing and evaluating the City's accounting system, consideration is given to the adequacy of internal accounting controls. Internal aceounting controls are diseussed by the Finance Director in his accompanying letter of transmittal, and within that framework, I believe, that the City's internal accounting controls adequately safeguard assets and provide reasonable assurance of proper recording of financial transactions. This report has been prepared following the guidelines recommended by the Municipal Finance Officers Association of the United States and Canada. The Municipal Finance Officers Association awards Certificates of Conformance.to those governments whose Annual Financial Reports are judged to conform substantially with high standards of public financial reporting, including generally aecepted accounting principles promulgated by the National Council on Goverrmental Accounting. It is my belief that the accompanying fiscal year 1983 Finaneial Report meets program standards, and it will be submitted to the Municipal Finance Officers Association for review. In aceordanee with the above mentioned guidelines,the aecompanying 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 goverrgnent accompanied by our independent auditor's opinion; (3) Statistical Section, including a number of tables of unaudited data depieting the finaneial history of the goverrunent for the past ten years, information on overlapping governments, and other miscellaneous information. -5- ",7� �sac MAYOR AND MEMBERS OF CITY COUNCIL June 4, 198�4 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. Respectfully Submitted Gerald G. Splinte City Manager r r -6- I CITY OF 6301 SHINGLE CREEK PARKWAY B ROO�LYN BROOKLYN CENTER, MINNESOTA 55430 TELEPHONE 561-5440 E N T ER EMERGENCY—POLICE—FIRE 911 June l, 1984 Mr. Gerald G. Splinter City Manager City of Brooklyn Center Dear Mr. Splinter: The Comprehensive Annual Financial Report of the City of Brooklyn Center, Minnesota for �he year ended December 31, 1983 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 the Municipal Finance Officers' Association of the United States and Canada, the American Institute of Certified Public Account- ants, the Minnesota State Auditor, and the City Charter. The format conforms to the audit guide for Audits of State and Loca1 Governmental Units and to the recent publication, Governmental Accounting, Auditing, and Financial Reporting. 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 r -7- ••7lcc =�o�«�►t'!u'.r.� �Il au C� Mr. Splinter June 1, 1984 Council for the proper administration of all affairs relating to the City. The City Manager is the chief accounting officer of the City and must provide such information about the City as the Council may require. The offices of City Clerk and City Treasurer are subordinate to, and appointed by, the City Manager. The City Clerk has duties in connection with the keeping of the �ublic records. The City Treasurer has duties in connection with the receipt, disbursement and custody of public funds. The City Attorney is appointed by the Council. All other officers and employees of the City are appointed by the City Manager. Appointment or r�moval of department heads are made final upon a majority vote of the Council. ACCOUNTING SYSTEM ANL� BUDGETARY CO�TROL 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 o� assets against loss from unauthorized use or disposition; and (2) the reliability of financial records for preparing financial statements and maintaining accountability for assets. The concept o� reasonable assurance recognizes that: (1) the cost of a control should not exceed the benefit� 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 safeguard assets and provide reasonable assurance of proper recording of financial transactions. A summary of significant accounting policies is contained in Note l of the No�es to Financial St�tements 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 �unds, and special assessment �unds, 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 operations. After the budget resolution is adopted, the Council can increase the budget onl.y 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 reservations of fund balance at December 31, 1983, since they do not constitute expenditures or liabilities. r g_ Mr. 5plinter June 1, 1984 THE CITY AND IT5 SER�7ICES 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 i.s an organized entitX: (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. Independent School District Nos. 286 (Earl 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 been excluded for the same reason. State Aid insurance premium tax in the amount of $51,856 arid ad valorem taxes in the amount of $16,].33 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. i The City provides the full range of municipal services contemplated by statute or character. 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 capita2 requirements by the municipal liquor stores operations have been used toward �'inancing current expense and capital outlay programs of the General Fund. The financial condition of each of the City's funds as of December 31, 1983 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. i 1 1 -9 Mr. Splinter June 1, 1984 GENERAL GOVERNMENT FUNCTIONS As of December 31, 1983, the fund balance of the General Fund, which had not been appropriated to a specific expenditure purpose, totaled $3,775,851. This amount represents the working capital that is available to finance the general operations of the City. Revenues and other financing sources to be used for general governmental operations totaled $6,669,295 in 1983, an increase of $731,600 over the previous year. The following table presents an analysis of major revenue and other financing sources of the General Fund for T983 and compares them to 1982: Increase of (Decrease) I983 Total T982 Frdm I982 Taxes, Ad Valorem $2,133,859 32.0� $1,935,403 198,456 Intergovernmental revenue 2,459,133 36.9 2,213,486 245,647 Charges for services 859,928 12.9 790,333 69,595 Licenses and permits 328,019 4.9 249,015 79,004 Court fines 154,812 2.3 146,204 8,608 Miscellaneous revenues 244,433 3.7 195,945 48,488 Other sources 489,T11 7.3 407,309 8I,802 Total $6,669,295 100.0� $5,937,695 731,600 Actual revenues and other financing sources exceeded the 1983 budqeted amount by $1,264,255. Expenditures and other uses of funds for general government operations totaled $5,606,790 in 1983, an increase of $76,931 over the previous year. The following table presents an analysis of major expenditure functions and other uses of funds of the General Fund for 1983 and compares them to 1982: Increase of (Decrease) 1983 Total 1982 Frdm 1982 General Government $1,054,064 18.8� $1,007,781 46,283 i Public 5afety 1,875,122 33.4 1,901,839 (26,717) Public Works 1,288,081 23.0 1,213,941 74,140 Communi�y Health 28,663 .5 36,244 (7,581) Parks and Recreation 1,268,907 22.6 1,122,299 146,608 Other uses 91,953 Io7 247,755 (T55,802) Total $5,606,790 100.0� 55,529,859 76,931 Expenditures and other uses of funds were $690,130 less than the 1983 budgeted amount. -10- Mr. Splinter June 1, 1984 Ad valorem tax levies for the current year 1983 and for the two previous years are summarized and presented below: 1983 I982 I981 Mill Mill Mill Tax Levy Rate Am�un� Rate Amouri� Rate Amount City Operations 12.473 $2,501,971 12.782 $2,307,841 12.824 $2,120,866 Debt redemption 1.853 371,841 2,035 368,001 2.288 378,610 Public Employees' retirement I.645 329,T46 I.580 289,860 1.491 246,544 Total Levy 15.971 $3,202,958 16.397 $2,965,702 16.603 $2,746,020 Assessed Valuation 1983 1982 1981 Real estate $197,621,159 $178,984,374 $162,760,496 Non-exempt personal property 3,973,587 4,113,767 4,027,036 Fiscal disparities adjustment (T,437,243) (2;357,630) (1,680,827) TotaT Assessed VaTuation $200,T57,503 $T80,740,511 $I65,106,705 Minnesota's Levy Lim�tation 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 levyo The law also provides certain mechanisms by wh'ich a municipality may adopt levies outside the levy limitations. The following table summarizes the City's compliance with the law for the years 1980 through 1983: 1983 I9F32 I98T 1980 Total tax levy $3,202,958 $2,965,Z02 $2,-746,020 $2,350,734 Less special tax levies 954,449' 3I4,348 938,957 538,041 Limited Levy $2,248,509 $2,651,354 $1,807,063 $1,812,693 Levy limitation 2,537,576 2,72T,309 2,026,714 1,819,897 Under Levy Limitation 289,067 69,955 219,651 7,204 -11 Mr. Splinter June 1, 1984 The State legislature enaeted �"Fiscal Disp�Y�ity Law" in 1971 which was not implemented until taxes payable in 1975 because of a constitutional 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 ten years ago, contributed $12,935,430 in assessed valuation. The fiscal desparities adjustments for the ten years are as follows: Year Assessed Value Net Received Taxes Value Contri- Received or Payable buted to "POOl° FYOm "Podl" (Cori�ribu�ed) 1975 2,355,241 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 3,6f66,177 (1,190,083) 1979 6,172,992 4,708,800 (1,464,192) 1980 8,086,801 6,254,605 (1,832,196) 1981 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 2T,050,949 T7,684,493 (3,366,456) l0 Year Tota1 $90,029,396 $77,093,966 $(12,935,430) The complete reporting of the General Fund financial operations and position i can be found in the General Fund Section of this report. r -12- 1 Mr. Splinter June 1, 1984 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, 1983 were as follows: Ratio of Debt to Ratio of Debt to Assessed Value Present Debt Per Amount of Present Market MaYket V�I�te C�pita Net direct bonded debt $2,828,836 1.39� .36� 91.76 Outstanding general obligation bonds at December 31, 1983 totaled $7,585,000, o� which $3,855,000 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 �roperty. Included also in the outstanding G.O. Bonds were $480,000 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 involvecl in the development costs of a housing development project and are repaid £rom incremental taxes from the City's Tax Increment Financing District. The remaining $2,320,000 is direct tax supported debt which is repaid by the proceeds of ad valorem tax levies. During the pa�t year, $930,000 of general obligation tax increment bonds were issued and $585,000 of general obligation bonds were retired. Outstanding revenue bonds at December 31, 1983 totaled $400,000. 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 Moady's Investors Service bond rating of "A-1". More detailed information about the debt position of the City can be found.in the Statistical Section of this report. CASH MANAGEMENT The Investment Fund was established to provide a uniform and consistent means for investing temporary surpluses of individual City Funds. Each individual City Fund invests in 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 1 loan associations' savings certificates and City of Brooklyn Center construction notes issued to provide temporary financing for construction.in the special assessment funds. The average yield on investments during the year was 10.33� and the Fund distributed $1,791,694 in interest earnings to the participating funds. -13- 1 Mr. Splinter June 1 1984 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 loc�l tax effort. During 1983, the City's allocation totaled $153,179 and will be approximately $160,000 in 1984. The City expended $360,731 of general revenue sharing funds in 19830 The reporting of all Special Revenue Funds' financial 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 received from various sources (including transfers from the LCMR 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 S-1 of this report. During 1983, Capital Projects Fund expenditures of $1,026,294 were made. The Fund Balance at December 31, 1983 was $1,212,358. Of this amount, $270,760 was reserved for unexpended appropriations, leaving an unreserved Fund Balance of $941,598. The Municipal State Aid for Construction Fund was established to account for monies received from the Minnesota Department of T�ansportation and expended for transportation related construction projects. The City expended $206,988 of municipal State aid for construction during 1983. The Fund Balance at December 31, 1983 was $3,263,390 of which $34,745 was reserved for unexpended appropriations and $1,634,239'was restricted to State approved projects, leaving an unreserved Fund Balance of $1,594,406. The reporting of these Funds' financial operations and positions can be found in the Capital Projects Funds' Statements Section of this report. PUBLTC UTILITIES �'UND Comparative data for the City's Public Utilities operations for the past two fiscal years are shown in the following table: -14- Mr. Splinter June 1, 1984 t 1983 1982 Water Department operating revenue 443,565 507,421 Sewer Department operating revenue 1,035,537 1,014,255 Water Department operating income: (98,828) 16,121 Sewer Department operating income (123,021) 21,311 Water Department net income 349,887 487,489 Sewer Department net income 127,803 190,273 Water customers at year end 8,470 8,326 Sewer customers at year end 8,480 8,480 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 1 profit of $].04,754 for the calendar year ended December 31, 1983. The Liquor Fund transferred $115,000 during the year to the General Furid to assist in the financing of City operating expenses. A condensed comparison of the stores' 1983 operations with those of 1982 follows: 1983 1982 Sales $2,421,996 $2,469,630 Cost of Sales 1,908,786 1,967,921 Gros� Profit on Sales 513,210 501,709 Operating Expenses 4I4,344 407,I94 Net Operating Income 98,866 94,515 Interest and other income 5,888 7,657 Net Income I04,754 IO2,I72 Transfers to fhe General Fund I15,000 I00,000 -1�5- Mr. Splinter June 1, 1984 1 SPECIAL ASSESSMENT FUNDS Special Assessment Funds are used to finance and account for the construction of certain public improvements 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. Construction expenditures of $111,673 were made from the Fund in 1983. The complete reporting of the Special Assessment Funds' financial operations and position can be found in the Special Assessments Funds' Sta�ements 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 (Public Utilities and Liquor). As of December 31, 1983, the general fixed assets of the City amounted to $23,799,979. 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 included in this report. CERTIFICATE OF CONFORMAIQCE 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 genera3ly accepted accounting preinciples and applicable legal requirements. -16- Mr. Splinter June 1, 1984 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 MFOA to determi,ne its eligibility for a certificate. ACKNOGTT,EDGEMENTS t Z`he 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, Q�..w Paul W. Holmlund Director of Finance 1 1 1 1 17_ Y oen an��Pen�ti�, Ct CERTIFIED PUBIIC ACCOUNTANTS 7035 WAYZATA BOULEVARD SUITE 210 MINNEAPOLIS, MINNESOTA 55426•1777 (612) 546-3306 MEMBERS GEORGE D. BETTS. CVA AMERICAN INSTITUTE OF C►A'S KENNETM P. JAEB, CPA MINNESOTA SOCIETV OF C�AS 1AME5 W. SEaFERT, CVA URRV S. JACOBSON, CPA WTMER J. MOEN RETIREO �/1RRV S. POPPLER, CYA Jur,a �.9 1984 OIVA ►ENTTIIA— RETIRED t Honorable 1�layor, and Members of the City Council City of Brooklyn Center, Minnesota �Ve have examined the combined financial statements of the City of Brooklyn Center, Minnesota and its combining and individual fund financial statements as of and for the year ended December 31, 1983, as listed in the table of contents. Our examination was made in accordance with generally accepted auditing stan3ards 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 Brookly;z Center at December 3�, 19$3, and the results of its operations and the changes in financial position of its proprietary fund types for the year then ended, in conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding year. Also, in our opinion, the combining 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, 1983, their results of operations, and the changes in financial position of individual proprietary funds far 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 individ�ial fund financial statements. The accompanying financial information listed as supporting schedules in the table of contents (schedules S-1, S-2, S-3) are presented for the purposes of additional analysis and are not a required part of the combined financial statements of the City of Brooklyn Center. The information has been subjected to the auditing prc�Ledures applied in the examination of the combined, combi;zing, and individual fund financzal statements and, in our opinion, is fairly stated in all material respects in relation to the eombined financial statements taken as a whole The accompanying statistical information presented in Tables 1 through 16 are not necessary for 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, ao /�,���i,e�Z May 4, 1984 MOEN PENTTILA, LTD. Minneapolis, Minnesota -18- 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. C� of Brooklyn Center EXHIBIT 1 All Fund Types and Account Groups (Continued next page) COMBINED BALANCE SHEET December 31, 1983 Proprietary Fiduciary Totals Governmental Fund Types Fund Typea Fund Typea Account Groups (Memorandum Only) spec�a� Ledt Copital Specinl General General Long- December 31, General Revenue Service Projects Assessments Enterprise AQencY Fixed Assets Term Debt 1983 �b? ASSETS C+isti un h;ind und i» bnnks s 635 i 3,900 S 4,535 S 4,4�5 In� (at cost) (Note lE) 5,313,602 :1,131,359 5693,595 =4,551,258 =4,932,482 2,559,142 f 9.763 16,641,201 15,230 Receivab.es (net of uncollectible): Aocounts 9,277 694 161,585 101,019 272,575 114,(���G Taxes 234,750 3,989 46,648 1,400 286,787 390,G2i S�acial assessments: Deferred 14,294 3,122,39? 3,136,641 3,&OR,545 Delinquent 513 156,928 6,929 163,870 14r;,1^y Accrued revenue 187,153 137,153 13?,3i5 Uue from other funds 502,085 482,519 200,025 117,517 213,T18 371 1,516,235 552,527 Due from other governments 19,493 225,474 413,050 13,137 671,104 1i4.956 In���n.ories and sup plies (Note 1F) 76,578 266,915 343,493 3Q4,854 Pr�p:ud expenses ?,256 81,683 88,939 ]45,Q81 �est�icted investments and other assets 4,581,609 4,531,E09 4,(23,093 I3o�:d discounts 91,200 41,200 43,381 Prcperty, p:ant and equipment (Note 12) U,755,193 S2g.799.979 38,555,172 37,034.485 Less: Accumulated depreciation (5,547,926) (3,59�,926) (3.299.716) Amo�nt available in Debt Service Funda S 878, 343 878, 343 4? 0, 270 Amour.t to be provided for General Long- Term Debt 3,272,865 3,272,865 2,8Y3,036 TO T A L ASSET S �9,163,626 51,858,792 5890,268 55,081,825 58��28,310 519,008,625 =11,163 523,799,979 �4,151,208 ;67,093,796 562,599,111 �r r �r rr �■r �r CitZr of Brooklyn Center EXHIBIT 1 All Fund Types and Account Groups (Continuecl frnm prior page) COMBINED BALANCB SHEET December 31, 1963 Proprietary Fiduciary Totals Covernmental Fund T ea Fund Typea Fund Ty� s Account Grou s (�lemorandum Only) apeciat OTt ap� a spectal General Gene�T.ong- December 31, Generel Revenue Service Projects Assessments Enterprise A�[ency Fixed Assets Term Debt 1983 i982 LIABILITIES AND FUND EQUITY Linbilities Accounts payable 138,639 8,500 17,316 S 5,702 S 149,488 319,670 L 292.067 Contracts payable 2,000 107,359 67,250 176,609 840,109 P ue to other funds 395 637,184 11.925 481,4b2 185,469 199,860 1,516,235 552,527 Duc tu other guvernmetits 224,224 Accrued expenseslexpenditures 91,YT2 30,599 101,866 173,4G6 a.crued eacation nnd sick pay 51,905 30,869 s 259,523 342,297 50,149 Construction lonns payable temporary 91.047 252,372 343,419 132,493 Deferred revenue 14,244 3,12�,397 3,136,641 3,808.537 Re�•enue bonds payable 400,000 900,000 490,000 General obligation bonds payable 3,730,000 3,730,000 3,040,000 Specinl assessments bonds payable 3,855,000 3,855,000 4,200,000 Assessments on City prnperty 161,685 161,6&5 199,306 Total Liabilities 264,206 S 751,005 11.925 S 606,077 57.420,940 S 8T8.061 j -0- S -0- 54,151,208 514.083,422 513,946,8b8 Fund Equity �ontrtbuted capital 510,220,291 s10,220.291 510,�14,999 Invested in generel fixed essets ;23,799,979 23,799,975 22,859,192 Retained earnings: Reser�•ed Restricted assets 336,624 •336,624 38T,143 Debt retirement i31,805 131,805 133.365 O Construction 113,180 113,18U 102,585 ►York.ing capital 620,000 620,000 620,000 Plant expansion 4.000,000 4,000,000 4,OQ0,000 Unreserved 2,708,664 2,708,664 2,199,736 Fund Balances: Reserved: Inventories and prepaid expenses 83,834 83,834 109,0's3 Subsequent year apprnpriations 19, 735 39, 735 228,197 Debt service (Notes 2,16) =660,717 716,567 1,377,284 (284,913) Unexpended appropriations 89,975 S 505,505 (9,187) 386,283 1,246,7U2 Unreserved: Designated for contributfons 614,980 Undesignated 3.775,851 1,017,812 217,626 4.170,ElS 11.163 9,192.695 6,220,704 Tutal Fund Equity 53,899.420 51,107,787 5878,343 t4,47S,7l8 S 707,370 �18,130.564 S 11.169 S2S.799,979 S -0- =53,010,394 =4B,652,223 TOTAL LIABILITIES AND FUND EQUITY �t,16�.846 :1,858,793 ;890.268 •=5.081,825 ;8,128,310 :18,008.825 11,163 S2S.799.999 :4.151.208 s67,093,796 562,599,111 (S�s notes to finandal statements) C� of Srook� Center EXH[BIT 2 All Governmental Fund Types COMSINED STATfiMBNT OF REVENUES,EXPENDITURES, AND CHANGES IN FUND BALANCES Year Ended December 31, 1983 TOtals Specfal Debt Capital Special (Memorandum Only) Ceneral Revenve Service Proiects Assessments 1983 1982 Revenues Taxes and speciul assessments (current year) =2,133,859 5280,957 51.273,289 S 3,688,105 53,179,877 Licerses and permits 328,019 328,019 249,015 Intergovernmental 2,959,133 504,930 90,884 S 508,661 3,563.608 3,114,290 C harges f�r services 859,928 19,113 879,041 824,952 Court fines 154,812 154,812 146,204 Interest 173,126 55;337 449,030 373,452 1,050,945 970,370 6liscellaneous 71,307 388,674 1,898 80,374 542,953 236,758 T.�tul Rrvenues 56,180,184 S 912,91T 5429,076 51,038,065 51,64B,711 ;10,206,983 58.721,466 E�penditures Current: General �overnment f1,059,064 s 669,226 1,723,290 51,112,802 Public safetv 1,875,122 1,875,122 1,901,839 Streets and highways 1,288,081 1,288,081 1,213,941 Community health services 28,663 28,663 36,249 Parks and recreation 1,268,907 1,268,907 1,122,299 i ron-Departmental 91,953 91,953 299,653 tv Capital outlay =1,233.282 S 111,673 1,344,955 1,T11,385 Debt service: Principal retirement f240,000 240,000 195,000 627 441 247 331 468 Interest and fiscal charges 210,620 230, Total Expenditures 55,606,790 S 669,226 5450.620 51,233,282 342,300 8,302,218 57,874,631 Excess (neficiency) of Revenues over Ex�enditurea 573.394 S 293,691 S(21,544) _(195,217) 51,304,941 1,904,765 S 646,835 Other Finar.cin� Sources (Uses} Proceeds of Ceneral Obligation Bonds S 913,700 S 913,700 O pera:in transfcrs in (Note 9) S 469,111 =293,825 S 357,108 S 48,100 1,188,194 777,808 O perating transfers out (973,868) (99,276) (1,073,149) (677,808) Tota] Other Sources (Uses) S 489,111 S(60,168) 5293.825 257,832 S 48,300' S 1,028,T00 100.000 Excess of Revenues and Other Sources O ver (L'tider) Expenditures and Uther tTses ;1,062,505 S 163,523 5272,281 62.615 51,352,541 S 2.933,465 S 996,835 Fund Batance January 1 2.836,915 924,264 606,062 l.413.133 (645,171) 8.135,203 7.188,368 Fund Balance December S1 =5,899,420 f1,10T,787 ;878,343 =4,475.748 707,370 =11,068,668 58,135,203 (See note� to financi�l statea►ents) r r■� �r i C� of Brooklyn Center EXHIHIT 3 COMBINED STATE�IENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGBT (GAAP BASIS) AND ACTUAL General and Special Revenue Funds Yenr Ended December 31, 19t33 Genernl Fund Special Revenue Funds Actual Over Actuel Ovcr Budget Actual (Under) Budget Budget Actuai (Under) Budget Revenues 'Paxes 52,195,977 ;2,133,659 (61,618) Licenses and permits 202,589 328,019 125,430 Intergoverr.mental 2,2T8,963 2,459,133 180,670 S 505,Ofl0 S 504,930 S (�0) Charges for services 753,578 859,928 106,350 22,000 19,113 (2,887) Court fines 120,000 154,812 34,812 �liscellnneous 130,000 244,433 108,433 368,400 388,874 20,9i4 Total Revenues S5,686,107 56,180,184 494,077 S 895,400 S 912,917 S 17,S1i Expenditui'es C urrent: General �;overnment 51,153,600 s1,054,069 s(99.536) 727,875 S 669,226 S(58,649) Fnbli�� safety 1,966.6G6 1,875,f22 (91,544) Str����ts nud hi�;hwnys 1,903,708 1,288,081 (115,627) Cvmmunity hc:ilth services 29,700 28,663 (1,037) Yarks and recreation 1,354,554 1,268,907 (85,647) Non-Departmental 388,692 91,953 (296,739) Total Expenditures 56,296,920 55,606,790 S(690.130) S ?27,875 S 669,226 S(58,699) Excess (Deticiency) of Revenues Over�enditures =(610,813) S 573.394 S1,184,207 S 167,525 S 243,691 S 76.166 i Other Financi,^.� Sources (Uses) Bond proceeds S 930,000 S 913,700 S(lE,'s00) O perating transfers in S 409,063 S 489,111 80,048 Operating transfers out -0- -0- -0- (1,079,715) (973,868) 105.847 Total Other Financinq Sources (Uses) S 409,063 S 489,111 S 80,048 s(149,715) ;(80,168) S 89,547 Excess (Deficiency) of Revenues and Other Sources Over Expenditures and Other Uses t(201,T50) L1,062,505 =1,264,255 f 1T,810 183,523 S 165,713 Fund Ba3ance January 1 52,836,915 �2,836,315 924,264 929,264 Fund Balance December 31 t2,636,165 ;3,899,420 51,264,255 942,014 =1,107,78T S 165,713 (See notes to financial statements) City of Brooklyn Center EXHIBIT 4 Propriefary Funds COMBINED STATEMENT OF REVENUES, EXPENSES AND. CHANGES IN RETAINED EARNINGS For the Year Ended Decemher .31., 1983 With Comparative Totals for the Y�.ar k�nded D�cember 31, 1,982 Enterprise Funds Municipal Public Liquor Utilities Total Fund Fund 1983 1982 Operating Revenues Gross Margin on product sales $513, 210 513, 210 501, 709 Charges for services $1, 479,102 1, 479,102 1, 521, 676 Total Operating Revenues $513, 210 $1, 479,102 $1, 992, 312 $2,023, 385 Operating Expenses Personal services $247,812 254,480 502,272 478,593 Contractual services 113,576 1,067,014 1,180,590 990,039 Supplies and materials 11, 657 33, 611 45, 268 76, 335 Heat, light, power 21, 710 110, 628 132, 338 131, 960 Depreciation 12, 972 235, 238 248, 2I0 204, 382 Other 6,617 6,617 10,128 Total Operating Expenses $414, 344 $1, 700, 951 $2,115, 295 $1, 891, 437 Operating Income 98, 866 221, 849) $(122, 983) 131, 948 Non-Operating Revenues (Expenses) Interest earned 5,888 693,155 699,043 726,420 Other revenue (expense) 23,656. 23,656 (59,652) Interest and fiscal agent fees (17, 272); (17, 272) (18, 782) Non-Operating Totals 5, 888 699, b39 705, 427 647, 986 Tricome Before Operating Transfers $104, 754 477, 690 582, 444 779, 934 O eratin Transfers (Out) $(115, 000) -0-. (115, 000) (100, 000) P Net Income $(10,246) 447,690 467,444 679,934 Retained Earnings January 1 231, 520 7, 211, 309 7, 442, 829 6, ?62, 895 Retained Earnings December 31 $221, 274 $7, 688, 999 $7, 910, 273 $7, 442, 829 (See notes to financiaT statements) -23- City of Brooklyn .Center EXHIBIT 5 Proprietary_ Funds GContinued next page) COMBINED STATEMENT. OF CHAN.GES .IN .FINANCIAL POSITION For .the Year. Ended December 31,. 1983 With Comparative Totals For the Year Ended December 31, 1982 Enterprise Funds Municipal Public Liquor Utilities Tota� s Fund Fund 1983 1982 Sources of Financial Resources Operations Net inco,me for year $(10, 246)` $477, 690 $467, 444 $679, 934 Add: Items not requiring current outlay Depreciafion 12, 972 235, 238 248, 210 204, 382 Total Resource.s Pravided By Operatians 2, 726 $712, 928 $715,854 $884, 316 Contributions toward construction 5, 292 5, 292 56,137 Decrease in M, W. C. C. receivable 9, 509 9, 509 9, 274 Decrease in asses�ments receivable deferred 41,010 41,010 Decrease in debt retirement investm�nts 1, 560 1, 560 1, 915 Total Sources 2,726 $770,299 $773,025 $951,642 Uses of Financial Resources Purchase of properties 209 $579, 691 $579, 900 $750,119 Payments to retire bonds 40; 000 40, 000 40, 000 Construction funds invest�d 10, 595 10, 595 10, 446 Increase in assessments receivable deferred 17,305 Total Uses 209 $630, 286 $630, 495. $817, 870 Net Increase (Decrea�e) in Working Capital 2,517 $140,013 $142,530 $133,772 -24- r Cit of Brookl n Cen er y y t EXHIBIT 5 Proprietary Funds (Continued from prior page) COMBINED STATEMENT OF CHANGES IN FINANCIAL POSITION For the Year Ended December 31, 1983 With Comparative Totals For the Year Ended December 31, 1982 Enterprise Funds l�lunicipal Public Liquor Utilities Totals Fund Fund 1983 1982 Elements of Increase (Decrease) in Working Capital Temporary investments 52, 491 $(2, 269) 50, 222 $390, 889 Accounts receivable (1,538) (6,556) (8,D94) 3,228 Assessments receivable 1, 735 1, 735 835 Due from other funds (11, 725) (11, 725) 11, 976 Due from other governments 29, 79?) 29, 797) 40, 631) Inventories 7,922 2,799 10,661 (12,730) Prepaid expenses (14,281) 11,316 (2,965) 6,503 Accrued revenue 4, 778 4, 778 (27, 991) Accounts payable 2,178 70, 99?) 68, 819) 33, 071 Contracts payable 53,198 53,198 64,868 Due to other funds (35,523) 181,916 146,393 (300,170) Due to other governments 12,874 6,732 19,606 (1,093). Accrued liabilities 21, 606) (1, 057) 22, 663) 5, 017 Net Increase (Decrease) in r Working Capital N $__2, 517 $14U, 013 $1-42, 530 $133, 772 (See notes to financial statements) -25- r City of Brooklyn Center NOTES TO FINANCIAL 5TATEMENTS December 31, 1983 Note 1: Summary of Significant Accounting Policies A. Fund Accounting The accounts of the City .are organized on the basis of funds and account groups, each of which is considered a sep�arate accounting entity. The operations of each fund are accourited for with a separate set of self-balancing accounts that comprise its assets, liabilities, fund equity, revenues, and expenditures, or expenses, as appropriate. Government res�urces are allocated to and accourited 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 i.n 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 furid of the City It is used to accourit for alY financiai resnurces excep# those required to be accourited for in another fund. Special Revenue Funds SpeciaT Revenue Funds are ,used to account for the proceeds of certain specific revenue sources that are legally restricted to expenditures for specified purposea Debt Service Funds Debt Service Furids 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 Furids Capital Projects. Furids are used to account for financial" res�urces to be used for the acquisition or construction of major capital facilities other than those financed by proprietary funds or SpeciaT Assessment Furids. Special Assessment Funds Special Assessment Furids are used to account for the financing of public: improvements or services deemed to benefit the properties against whicfi special assessments are ievied. -26- r City of Brooklyn Center NOTES TO FINANCIAL STATEMENTS December 31, 1983 Note 1: Summary of Significant Accounting Policies (continued) PROPRIETARY FUNDS Enterprise Funds Enterprise Furids are used to account for o eration p s that are financed and operated in a manner similar #o private business enterprises where the intent is that the costs (expenses, including depreciafion) of providing goods or services to the general public on a continuing basis be financed or recovered primarily through user charges. FIDUCIARY FUNDS Agency Furids Agency Furids are used to accourit for assets held b the y City as an agent for other government uriits. B. Fixed Assets and Long-Term Liabilities The accounting and reporting of fixed assets and long-term liabilities associated with a furid are determined by its measurement focus. All governmental furids are accourited for on a spending or "financial flow" measurement, which means that only current assets and current liabilifies are generally inciuded on their balance sheets. Their reparted furid balance is considered a measure of t'available" spendable resour�es�' Governmental. furid operating statements present increases (revenues and other financing sources) and decreases (expenditures and other financing uses) in net current assets. Accordingly, they are said to present a summary of sources and uses of 'ravailable spendable resourcesd during a period. Fixed assets used in governmental fund ty e o erations are P P accourited for in the General Fixed Assets Account_ Group, rather than in the governmental furids. 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. A1T fi�ed assets are valued at hisforical cost or estimated hisforical cost if hisforical cost is uriavailable. Donated fixed assets are valued at their estimated fair value on the date donated. _27_ City of Brooklyn Center NOTES TO FINANCIA�, STATEMENTS December 31, 1983 Note 1: Summary of $ignificanf Accounting Policies (continued) The fixed assets of the Liquor and Public Utilities Funds are depreciafed using the straigfit-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 y�ars 100 years Structure/improvements 30 yeaxs 25 years 3-10 years Equipment 5-25 years 3-10 years Public Uti2ity 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 bonfls, whicli are accounted for in Special Assessment Funds. The two account groups differ from "furids" in that they are not involved with measurement of results of operatioris. They are concerned only with the measurement of financiaT position Because of their spending measurement focus, expenditure recognition for governmenta.l furid types is limited to exclude amounts represented by noncurrent liabili�Eies. Since they do not affect net current assets, such long-term accounts are not recngnized as govern-. mental type e�enditures or �urid liabilities. They are instead reported as liabilities in the General Long-Term Debt Accourit Group C. Basis of Accounting Basis of accounting refers to when revenues and expenditures or e�enses are recognized in the accounts and reported in the financial statements. Bas3s of accounting relates to the timing of the measure- ment made, regardless of #he measurement focus applied. All governmental furids and agency furids are accounted for using the modified accrual basis of accouriting. This means that their revenues are recognized when they become measurable and available as net current assets. SpeciaT assessments principal and interest and property taxes are considered "measurable" when in the hands of inter- mediary collecting governments and are recognized as revenue at that 1 time. Anticipated refurids 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� -28- City of Brooklyn Center NOTES TO FINANCIAL STATEMENTS December 31, 1983 Note 1: Summary of Significant Accountin� Policies (continued) intergovernmental, charges for services, court fines and miscellaneous revenues are considered 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 deffered revenues. Expenditures are generally recognized under the modified 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 earned, and their expenses 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 General Governmental Spending Modified Accrual Special Revenue Governmental Spending Modified Accrual Debt Service Governmental Spending Modified Accrual Capital Projects Governmental Spending Modified Accrual Special Assessment Governmental Spending Modified Accrual Enterprise Proprietary Capital Accrual Maintenance Trust and Agency: Agency Fiduciary Modified Accrual D. Budgets and Budgetary Accountin� The City follows these procedures establishing the budgetary data reflected in the financial statements: 1. By the first regular Council meeting in September, the City Manager submits to the City Council proposed operating budgets for the fiscal year commencing the following January. The opera- ting budgets include expenditures and the means of financing them 29_ City of Brooklyn Center NOTES TO FINANCIAL STATEMENTS December 31, 1983 Note 1: Summary of Significant Accounting Policies (continued) D. Budgets and Budgetary Accounting (continued) 2. Public hearings are conducted to obtain taxpayer comments. 3. The budgets are legally enacted through passage of a resolu- tion by the City Council not later than the first week of October 4. The City Couricil must authorize transfer of budgeted amounts between departments within any furid. 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 addi- tional outside revenues. 6. All budget amounts lapse at the end of the year to the extent they have not been expended. 7. Formal budgetary integratian is employed as a management control device during the year for the General Fund and Special Revenue Funds. Formal budgetary integration is not employed for Debt Service Furids because effective budgetary control is alternatively achieved through general obligation bond indenture provisi�ns. Budgetary control for Capital Projects and Special Assessment Furids is accomplished through the use of project controls 8. Budgets �or the General and Spe�iaT Revenue Funds are adopted on a basis consisfent with generally accepted accounting prineiples GAAP 9. Budgetary control is maintained at the expenditure category level within each activity. Budgetary control is maintained in comphance with the City Council's directions. City departments are not allowed to exceed budgetary expenditure totals for tY:e dep��:rtn�ent 10. Budgeted amourits are as originally adopted, or as amended by the City Couricil. Yndividual amendments were not material in relatian to the original appropriations. 30- City of Brooklyn Center NOTES TO FINANCIAL STATEMENTS December 31, 1983 Note 1: Summary of Significant Accouriting Policies (continued) E Investments Investments are stated at cost, which approximates market. Cash balances from all funds are pooled and invested, to the extent available, in authorized investments. Interest income on such investments is recorded as earned, and alloca#ed to the respective funds on the basis of the participating furids investment. F Inventory Inventories within the Water and Sewer Furid and the Municipal Liquor Stores Furid are valued at the lower of cost (first-in, first- out) or market. Inventory quantities are determined by utilizing physical courits. G. Encumbrances Encumbrances accouriting, urider which purchase orders, contracts, and other committments for the expenditure of monies are recorded in order to reserve that portian of the applicable appropriatiQn, is employed. Encumbrances outstanding at year end are reported as reser- vatians of furid balances, sirice they do not constitute expenditures or liabilities. They are reappropriafed in the succeeding year budget. H Comparative Data Comparative totals for the prior year have been presented in the accompanying financial statements in order to provide an understanding of changes in the City's financial positiari and operatians.. However, comparative (i.e. presentatiori of prior year totals .by individual furids) data have not been presented in each of the statements since their inclusiori would make the statements uridul� complex and difficult to read. I. Total Columns on Combined Statements Tota1 columns on the Combined Statements are captioned Memorandum Only to indicate that they are presented only to facilitate financial analysis. Data in these �olumns do not present financial position, results of operations, or changes in financial position in conformity with generally accepted accouriting principles. Neither is such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this data. -31- City of Brooklyn Center NOTES TO FINANCIAL STATEMENTS December 31, 1983 1 Note 1: Summary of Si ificant Accouritin Policies Qontinued g J. Proper.ty Tax The City Council annually adopts a tax levy and certifies it to the County for billing and collection prior to November 15 of the preceding year. Taxes becnme an enforceable lien on the property on January 1. The Courity is respansible for billing and collecting all property taxes for itself, the City, the iocal School District and other taxing authorities. These taxes are payable (by property owners) by May 15 and October 31 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 becomes both measurable and available to finaneQ expenditures of the current period. K. SpeciaT Assessments SpeciaT assessments are ievied 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 asses�ments are �ollectible over a term of years generally consis- tent with the term of years of the related bond issue. Collection Qf annual installments (including interest) is handled by the County in the same manner as property taxes, Property owners are allowed to prepay total future installments without inter�st or prepayment penalties. The City recognizes special assessment revenue when it becomes both measurable �nd available to finance bonded debt. -32- City of Brooklyn Center NOTES TO FINANCIAL STATEMENTS December 31, 1983 Note 1: Summar of Si nificant Accountin Policies (continued) Y g g 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 amourit is determined to be excessive by the City Council or by court action. If special assessments are delinquent 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 saie) 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 Accordin gly no allowance for potentially uncollectible assessments has been provided. Go rmm 'd L. Local ve e t Ai 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 calendar year. The City recognizes local government aid revenue when it bec�mes 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 furid specific City expenditures. 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 Pay Policies The City pays employees severance pay upon termination of employ- ment based on accumulated sicl� leave and accrued vacation. Accruals are stated in the various furids. 33- City of Brooklyn Center NOTES TO FINANCIAL STATEMENTS December 31, 1983 Note 2: Changes in Long-Term Debt The following is a summary of bond transactions of the City for the year ended December 31, 1983: Debt Public Special Service Utilities Assessments Furid Furid Fund Total Bonds payable January 1 $3, 040, 000 $440, 000 $4, 200, 000 $7, 680, 000 Bonds issued 930, 000 930, 000 Bonds retired 240, OOD) 40, 000) 345, 000). 625, 000) Bonds Payable December 31 $3,730,000 $400,000 $3,855,000 $7,985,000 $878, 343 is available in Debt Service Furids for payment of General Obligatiari Bond principal and inferest. General Obligation Bonds General Obligation Bonds are recorded in the General Long-Term Debt Grou�i of Accounts and are backed by the full .faith. and credit of the City, $930, 000 of general obligation tax increment bonds were issued to finance a housing project for the elderiy urider the Housing and Redevelopmenf Authority during 1983. SpeciaT Assessment Bonds These bonds are recorded as a liability in the Special Assessment Funds and are payable primarily from speciaT assessments levied and collected for local improvements. The �ity. has a contingent liability relating to a pledge of fuil faith and credit on the Special Assessment Bonds. The gen�ral credit of the City is obligated only to the extent that liens foreciosed against properties involved in the special assessment disfricts are insufficient to retire outstanding bonds. i Note 3: Public Utilities Fund Public Utilities Revenue bonds were issued during 1963 to finance an additian to the water works system. These bonds, together with related inferest and serviCe charges, are payable solely from the operations of the Public Ufilities Furid and are not a general. obligation of the City. The resolution authorizing and direeting the i -34- City of Brooklyn Center NOTES TO FINANCIAL STATEMENTS December 31, 1983 Note 3: Public Utilities Fund continued issuance of these bonds contain covenants and restricfions ena�ted 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 accounting for the activities of the Public Utilities Fund. As required by Paragraph l0e of the issuing resolution, an analysis of each accourit balance appears as follows• Construction Account Proceeds of bond sale $1, 000, 000 Add: Investment earnings through 1982 377, 521 1983 Investment earnings 10, �95 Total Investment Earnings 388,116_ Deduct: Construction expenditures through 1982 $1, 274, 9�6 Total construction e�cpenditures 1983 -0-". Total Construction Expenditures $1, 274, 936 Construction Account Balance 113,180 Debt Retirement Account Accumulated amounts set aside to meet 1983 requirements for interest and principal: Investments with accrued interest 56, 805 Reserve account investments 75., 000 Total Debt Retirement Account 131, 805 A summary which reconciles restricted assets with earnings and also compares appropriated earnings with restrictian requirements.as set forth by the resolution authorizing the sale of revenue bonds is presented as follows: Revenue Construction Bond Reser.ve Account Accourit Account Restricted Assets 12/31/83 $131, 805 56, 805 75, OOA Appropriated Earnings at 12/31/83 $131, 805 56, 805 75, 000 -35- City of Brooklyn Center NOTES TO FINANCIAL STATEMENTS December 31, 1983 Note 3: Public Utilities Fund (continued) All bonds which mature on January 1, 1982 or thereafter are subject to redemption (call) on January 1, 1974, or any in�erest payment due thereafter in inverse-numerical order at p�r and accrued interest and premium as follows: If redeemed January l, 1981, or therafter, no premium. Note 4: Public Utilities Fund Metro Waste Control Commission Receivables and Reserves Pursuant to enacted Iegislation (Metropolitan Sewer Act Chapter 449 Session Laws) the Metropolitan Waste Control Commission as of January 1, 1971, assumed ownership of all exisfing interceptors and treatment works needed to implement a comprehensive plan for the collection, treatment, and disposal of sewage in the seven county metropolitan area. -36- City of Brooklyn Center NOTES TO FINANCIAL STATEMENTS December 31, 1983 j Note 4: Public Utilities Fund Metro Waste Control Commission Receivables and Reserves (continued) Under the terms of the Act, the Commission is obligated to reim- burse each local government for the cost of facilities acquired. This cost or purchase price of facilities is based on depreciafed replace- ment 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 0. 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 The installment credit for 1983 consisted of principal :and interest and the amount of cred�t offset against 1983 sewer service billings totaled $9, 509, leaving a balance due over the next 20 years of $218, 593 as adjusted by the M. W. C. C. Note 5: Special Assessment Funds Special assessments which related to improvements.benefiting City- owned properties total $161, 685 as of December 31, 1983�. The payment. for these improvements (with no interest charge} has been scheduled over a period extending through 1985. These assessments are obligations of the general fund and payment is planned urider normal budget procedures, whereby the needed monies will be appropriafed during the years as each installment becomes due. Note 6: Pension Plans and Pension Funds The City participates in two p�nsion plans as follows: 1. All City employees, with the exception of �olunteer firemen, who have a separate plan, are covered by the Public: Employees' Retirement Plan. This plan is administered by an independent agency of the State of Minnesota and is the central plan for employees of governmental units within the State of Minnesota. The City contributes, on behalf of its employees, 5.5$ to.12$ ($258, 268 for 1983) of its employees' salaries to this plan, and part of that contribution covers previously unfunded amounts. The City contributed $125, 828 for 1983 to the Public Employees' Retirement Plan for FICA. _37_ City of Brooklyn Center NOTES TO FINANCIAL STATEMENT5 December 31, 1983 Note 6: Pension Plans and Pension Furids (continued) Actuarial Valuations of Plan Benefits are as follows: (Per PERA report of 6/30/83) a. Minnesota Statues, Section 356.215, Subd. 4, provides 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 accrue:d liabilities of the benefit plan, the actuary uses a 5 per�ent interest rate assumption and assumes an annual growth rate of 3 1/2 percent in member's salary. b. The unfunded accrued liabilities of $401, 518,fi19 in the Public Employees' Retirement Fund and $740, 409 in the Palice and Fire Fund as of June 30, 1983, are the amounts.b� whicfi reserves required to fund plan benefits exceed the assets of the funds. In addition to the level normal cost, the actuarial calculations included the amount of additional annual contri- bution which would be required to retire the current urifunded accrued liability by June 30, 2009. PERA is a state-wide contributory retirement plan for which an individual City's portion of the unfuridect.liabilify is not available because no city is directly liable for an unfunded liability under Minne sota law c. Pension benefits are funded from member and employer contributions and income from investment. of fund assets. Public Employees Retirement Fund members belong to either the Basic or Coordinated Plan. Coordinated members are covered by Social Security and Basic members are not.. All new members of the Public Employees Ketirement Fund must participate in the Coordinated Plan Current eontributian rates for the funds are as follows: Unfurided Additional Employee Employer Employer Public Employees Retirement Fund: Basic Plan 8% 8 0 2 1/2$ t Coordinated Plan 4 0 4$ 1 ll2$ P o li ce a n d F i r e F u n d 8 0 1 2$ -38- City of Brooklyn Center NOTES TO FINANCIAL STATEMENTS December 31, 1983 Note 6: Pension Plans and Pension Funds (continued) 2. The City contributes to the Brooklyn Center Firemen's Relie:f Association, an independently administered retirement plan for the City's volunteer firemen. The benefits of this plan are estab- lished 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. Actu�arial studies of retirement needs are made periodically to determine the contributions to the Association. The Association had an unfunded accrued liability of $112, 437. The City remitted $23, 065 to the Asociation in 1983. The City also transmitted a State Aid payment in the amourit of $51, 856. Note 7: Investment Trust The Investment Trust was established in 1965 by Couricil action to. provide a uniform and consistent method of investing temporarg sur.- pluses of cash. Net income of the Trust is disfributecY annually to each of the participating funds on the basis of the average yearly investment maintained by each fund. The net income and the effective rate of return on average investment by participating furids is shown below by years. Year ftate of Net Return Income 1983 10. 33$ �1, 791, 69� 1982 11.34$ 1,,&'46;,6�2 1981 11.05$ 1,622,:451 r 1980 8. 87$ �1,;156, 46� 1979 8.45$ 978,180 1978 7.66$ ��g,gq9 1977 7.11$ 637,855 1976 6,86$ 592',:363 1975 7.15% 554,696 1974 7.66$ �D3,710 1973 6. 63$ �3��., 221 1956-1972 2.77$ 6.66$ 1,��8,379 Total Distributed Earnin s 1956 1983 g $12, 569, 980 39- i City of Brooklyn Center NOTES TO FINANCIAL STATEMENTS December 31, 1983 Note 8: Agency Funds The Brooklyn Center Housing and Redevelopmenf Authority is no longer considered a separate entity from the City. The City admin- isters the Authority as a Special Revenue Furid of the City. The Brooklyn Center Fire R.elief Associafion is a totally separate entity from the City and is considered an agency account. Note 9: Interfund Receivables and Payables Individual interfund receivable and payable balances at December 31, 1983 were as follows: Inter-Furid Inter-Fund Fund Receivables Payables General 502, 085 395 Community Development Block Grant 17, 860 Capital Projects 88, fi83 478, 032 Municipal State Aid for Constructian Fund 28, 834 3, 370 Special Assessments 213, 718 185, 469 Municipal Liquor 45, 523 Public Utilities 371 154, 337 Housing and ftedevelopment 482, 519 258, 593 Federal Revenue Sharing 360, 731. G.O. Tax Increment Debt Service 200,025 1969 Building Bonds Debt Service 11,�925 $1,516,235 $1,516,235 Inter-Fund Transfers In Out Operating Transfers: General Fund 489,111 Federal Revenue Sharing 360, 731 Community Development Block Grant 91, 305 Capital Projects Fund 357,108 Municipal State Aid for Constructian 99, 276 Special Assessments 48,100 Municipal Liquor 115, 000 Housing and Redevelopment 521, 832 State Aid Street Bonds Debt Service 93, 800 G.O. Tax Increment Bonds Debt Service 200,.025 $1,188,144 $1,188,144 40- City of Brooklyn Center NOTES TO FINANCIAL STATEMENTS December 31, 1983 Note 10: Special Revenue Funds Federal ftevenue Sharing grants for the year ended December 31, 1983, by the entitlement period are as follows: Entitlement Period/Quarter Amount 14 2,3,4 $113,545 15 1 39,634 Total $153,179 Note 11: Contingent Liabilities The City participates in a number of federally assisfed grant programs, principal of which are the General Revenue Sharing, Community Development Block Grant, and Local Public Works programs. These pro- grams are subject to program compliance audits by the grantors or their representatives. The audits of these programs for or including the year ended December 31, 1983 have not yet been conducted. Accordingly, the City's compliance with applicable grant requirements wi11 be estabiis:hed at some future date. The amount, if any, of expenditurps 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 material. Note 12: Changes in Fixed Assets General Fixed Assets B alance B alan�� January 1, Acqui- Dec�mber 31,. 1983 sitions_ Dispasals 1983 Land 996, 487 36, 040 1, 032, 527 Buildings 3, 750, 381 708, 743 4, 459,124 Park properties 2, 782, 228 776 2, 783, 004 Furniture 382,929 2,854 385,783 Departmental equipment 2, 424, 035 164, 315 2, 588, 350 Storm sewers and streets 12,523,132 28,059 12,551,191 Total General Fixed Assets $22, 859,192 $940, 787 $-0- $23, 799, "979 41- City of Brooklyn Center NOTES TO FINANCIAL STATEMENTS December 31, 1983 Note 12: Changes in Fixed Assets (continued) Utility Plant in Service Balanc� Transfers Balance January 1, and Decemb�r 31, 1983 Additions Disposals 198� Water Department Mains and lines 5, 923, 686 $144, 284 6, 067, 970 Structures 1,363,745 385,021 1,748,:766 E q u i p m e n t 1 3 8, 0 2 9 2 8, 1 5 4 I 6 6, 1 8 3 Land 24,816 24,816 Total Water Department 7, 450, 276 $557, 459 -0-. 8,00.7, 735 Sewer Department i Mains and lines 4, 870, 261 12, 201 4, 882, 462 Structures 742,780 50,879 793,659 Equipment 138, 029 28,154 166,183 Lan.d Total Sewer Department 5, 751, 070 91, 234 -0- 5, 842, 304. Construction in Progress 776,384 -0- 69,002 707,382. Totals $13,977,730 $648,693 69,002 $14,557,421 Liquor Fund Fixed Assets Balance Balance January 1, Dec+ember 31, 1983 Additions Disposals 1983�.. Land 5, 898 5,898 Equipment 136, 468 209 135, 677 Leasehold 56,197 56,197 Totals 197, 563 209 -0- 197, 772 42- City of Brooklyn Center NOTES TO FINANCIAL STATEMfiNTS December 31, 1983 Note 13: Summary of Debt Service Re�uirements to Maturity General Obligation General Obligation Year General Ob1iECation Bonds $pecial Assessment Bonds State-Aid Street Bonds Water Revenue Bonds Service Requirement Principai interest Princi� Interest Principal Interest Princi� Interest Principal Interest 1989 195,000 S 219,625 650,000 S 275,279 60,000 29,940 40,000 15,600 945,000 540,444 1985 195,OU0 224,595 490,000 238,575 60,000 26,070 45,000 13,991 740,000 503,231 1986 215.000 Y10,458 325,000 210.935 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 10,530 695,000 911,829 1988 300,000_ 173,982 500,000 168,620 60.000 14,160 45,000 8,775 705,000 365,037 1989 325,000 151,833 280,000 147,480 60.000 10,125 45.000 7,020 710,000 316,958 1990 195,000 128,787 260,000 126,880 60,000 6.075 45,000 5,265 560,000 267,107 1991 355,000 108.��4 260,000 10Y,070 60.000 2.025 45,000 3,510 720,000 221,049 1992 400,000 79,998 200,000 88,150 45.000 1,755 645,000 169,903 1993 910,000 �8,968 175,000 71,587 585,000 120,355 W 1994 100,000 28,988 175,000 55,200 275,000 84,188 1995 100,000 20,588 175,000 38,988 2T5,000 59.0T6 1996 125,000 10,868 150,000 22,500 275,000 33,368 199? 60.000 2,700 15�,000 7,500 210,000 10,200 53,250,000 =1,602,673 ;3,855,000 $1.747,959 5480.000 5128.700 5400,000 S 78,T31 57.985,000 Z3,558,063 City of Brooklyn Center NOTES TO FINANCIAL STATEMENTS December 31, 1983 Note 14: Additional Segment Information Public Municipal Utilities Liquor Fund Fund Total Net working capital 2, 532, 240 $169, 448 2, 701, 688 Total equity 17, 909, 290 221, 274 18,130, 564 Current capital contribution 5, 292 5, 292 Note 15: Industrial Development Revenue (IDR) Bonds Industrial Development Revenue Bonds are payable solely from payments derived from a revenue agreement between the City, 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 of 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 1980 750, 000 Commercial Partners/Brookdale 1980 6,ZOO,D00 S& S Real Estate (Swenson's Carriage House) 1980 750,000 Brookdale Office Park Partners 1981 8, 000, 000 Shingle Creek Eleven Project 1981 1, 600, 000 Federal Lumber 1981 1, 500, 000 Brookdale Corporate Center I 1981 7, 550, 000 Shingle Creek Development Company 1982 2,172,150 The following Industrial Development Revenue Bonds have been approved, but not yet issued: Ryan Construction Co. (Byerly's) $10, OOU, 000 Brookdale Corporate Center II 8, 790, 000 -44- City of Brooklyn Center NOTES TO FINANCIAL STATEMENTS December 31, 1983 Note 16: Commitments 1. The City expects all contracts to be completed within one year. 2. Liquor Fund lease commitments for rental are as follows: Store #1 lease requires payments of $1,137. 50 per month plus pass-through expenses, and continued through November 30, 1984. Current payments total $1, 735. 41 per month. Store #2 is City-owned. Store #3 lease requires payments of $1, 666. 67 per month plus pass-through expenses and cantinued thr.ough November 30, 1984. Current payments total $1, 762.83 per month. Note 17: Reserves 1. Restricted assets reserve of $336, 624 consists of Metro Waste Control Commission receivables ('$218, 593) and deferred assessments ($118,031) not available for current use. 2. Debt retirement reserve of $131,805 is required by bond indenture. 3. Construction reserve ($113,180) 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 ($39, 735) are unused appropriations reappropriated the succeeding year and also may include fund balance amounts appropriated to budget for succeeding year. 7. Inventories and prepaid expenses reserved in General Fund. Note 18: Deficit Fund Balances Deficit balances exist in the following funds: Fund Amount Diseased Tree (1,122) Special Assessments 1969A 9, 612) 1976 (98,522) 1982 (1,735,846) Construction 82, 859) In all these funds except the Construction Fund, the collection of special assessment levies are expected to exceed fund deficits. Construction Fund deficits should be eliminated by issuance �f bonds and levy and collection of special assessment�, -45- City of Brooklyn Center, Minnesota GENERAL.FUND The Cit of Brookl n Center Home Rule Charter rovides in S n y y p ectio 7.11 that "there shall be maintained in the City Treasury a classification of Funds which shall provide for a General Furid 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 res�lution" The General Fund was established to accourit for all revenues and expenditures which are not required to be accounted for in othex funds. It has more diverse revenue sources tha� other furids,.. Th�s� 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, recreatian, and uriallocated general expenditures. Revenues and expenditures in this Furid are recognized on the modified ac�rual basis. Revenues are recognized in the accouriting period in which they become available and measurable. Expenditures are recognized in the accounting period in which the related liability is incurred. 1 City of $rooklyn_ Center A-1 �eneral. Fund COMP�4RATIVE Bt�LANCE .SHEET December 31, 1983 and 1982 .Totals 1983 i982 ASSETS Cash 635 595 Temporary investments 3, 313, 602 2, 826, 786 M Accounts receivable 9, 277 3, 685 Taxes receivable 234, 750 248, 320 Due from other furids 502, 085 80, 649 Due from other governments 19, 443 31, 892 Inventory of supplies 76, 578 48, 600 Prepaid insurance 7, 256 60, 433 T_OTAL ASSETS $4,163, 626 $3, 300, 960 LIABILITIES AND FUND BALANCE Liabilitie s Accounts payable 138,634 193,896 Contracts payable 2,000 32,537 Due to other furids 395 52, 797 Accrued salaries payable 71, 272 165, 535 Accrued vacation and sick pay 51, 905 19, 280 Total Liabili�ies 264, 206 464, 04b Fund Balance Reserved For inventories and prepaid expenses 83, 834 109, 033 For subsequent-year appropriatians 39, 735 228,197 Unreserved fund balance 3,775,851 2,499,685 Total Fund Balance $3, 899, 420 $2, 836, 915 TOTAL LIABILITIES AND FUND BALANCE $4,163,626 $3, 300,.960 (See notes to financial statements) 46- City of Brooklyn Center A-2 General Fund STATEMENT OE REVENUES, EXPENDITURES .AND .CHANGES IN FUND BALANCE BUDGET. (G�AAP BASIS} .AND ACTUAL Year_ Ended December 31, 198"3 With Comparative Actual Amounts for the Year Ended Dec�mber 31, 1982 1983 1982 Actual Over Budget Actual. (Under) Budget Actual Revenues Ad valorem taxes $2,195,47? $2,133,859 (61,618) $1,935,403 Licenses and permits 202, 589 328, 019 125, 430 249, 015 Intergovernmental 2,278,463 2,459,133 180,670 2,213,486 Charges for services 753,'578 859, 928 106, 350 790, 333 Court fines 120,000 154,812 34,812 146,204 Miscellaneous 136, 000 244, 433 108, 433 195, 945 Tota1 Revenues $5,686,107 $6,180 184 494 077 5 530 386 Expenditures General government $1,153, 600 $1,_054,.064 99, 536) $1, OOT, 781 Public safety 1, 966",'666 1, 875,122 91, 544) 1, 901, 839 Streets and highways 1,403,708 1,288,081 (115,627) 1,213,941 Community and health services 29,'l00 28, 863` (1, 037) 36, 244 Parks and recreatiori 1, 354, 554 1, 268, 907 85, 647) 1,122, 299 Non-Departmental 388, 692 91, 953 (296, 739) 247, 755 Total Expenditur.es $6,296,920 $5,606,790 (690,130)' $5,529,859 Excess (Deficiency) .of Kevenues Over Expendit.ures 61"0, 813) 573, 394 $1,184, 207 527 Other Financing Sources. (Uses:): Operating transfers in 40g,D63 489,111 80, 048 407, 309 Operating transfers out -0-' -0- -0- -0-. Total Other Financing Sources (Uses) 40'9., 063 489,111 80, 048 407, 309 Excess (Ueficiency) of Revenues and Other Financing Souxces Over:.. Expendit.ures and Other {Uses) ${201, 750) $1, 062, 505 $T, 264., 255 407., 836 Fund Balance January ;1 2, 835,'915 2, 836, 915 3, 029, 079 Residual transfers: To Capital Projects Fund 600, 000) Fund Balance December 31 $2, 635,165 $3, 899, 420 $1, 264, 255 $2, 836, 915 (See notes to financiaT statements) 47- City of Brooklyn Center A-3 General Fund (Continued. next page) STATEMENT OF. REVENiJE BTJDGET AND ACTUAL OBJEC.TIVE. CLASSIFIC.ATION- For the Year 1983 with Comparative Actual for 1982 1983 1982 Actual Over Budget Actual (Under) Budget Actual Ad Valo'rem Taxes Real estate taxes $2,145,477 $2,090,470 (55,007) $1,885,760 Penalties and interest 50, 000 43, 389 6, 611) 49, 643 Total Ad Valorem Taxes $2,195, 477 $2,133, 859 61, 618) $1, 935, 403 Licenses and Permits. Liquor and beer 89, 455 108,172 18, 717 122, 026 Building permits 40, 000 84, 032 44, 032 41, 803 Mechanical permits 15, 000 24, 764 9, 764 12,174 Electrical permits 15, 000 18, 831 3, 831 9, 243 Food licenses 11,.300 15,210 3,910 12,036 Plumbing permits 5, 000 19, 770 14, 770 5, 278 Rental dwelTing permits 6,'60U 9, 631 3, 031 10, 801 Sewer and water permits 3,-000 10,150 7,150 4, 870 Dog licenses 3, 500 6,163 2, 663 4, 220 Swimming pool licenses 2, 685 2, 880 195 2, 719 Service station licenses 1, 960 2, 363 403 1, 808 Mechanical licenses 2, 200 2, 443 243 2, 772 Miscellaneous business licens�s 1, 350 1, 405 55 3, 798 Garbage iicenses 1, 300: 1,105 (195) 1, 280 Vehicle deaier licenses 90U" 900 900. Cigarette iicenses 850 869 19 936 Sign permits 30U' 2, 800 2, 500 495 Taxicab licenses 500" 1, 000 500 500 Bowling licenses 700" 976 276 460 Lodging establishments 489 456 (33) 497 All other licenses and permits 500. 14, 099 13, 599 10, 399 Total Licenses and Permits_ 202., 589 328, 019 125, 430 249, 015 Intergovernmental Federal grants: Miscellane,ous small grants 17, 2T2. 8, 704 8, 50:8.) 18, 610 Total Federal Grants 17, 212 8, ?04 8, 508). 18, 610 State grants: MiscelTaneous small grants $-0-_ 6, 786 6, 786 6, 414 Total State Grants $-0- 6,786 6,786 6,414 -48- City of Brooklyn Center A-3 General Fund (Continued next page) STATEMENT OF REVENUE BUDGET AND ACTUAL OBJECTIVE CLASSIFI�t�TION For the Year 1983 With Comparative Actual for 1982 1983 1982 Actual Over Budget Actual (Under) Bud�et Actual Inter�overnmental _(continued�) State shared taxes: Local government aid $1,447,611 $1,627,078 179,487 $1,416,015 Reduced assessments 14,41? 14,417 -0- 13,443 Homestead credit aid 6?1, 223 671, 223 -0- 610, 398 Fixed machinery tax 1,000. 1,371 371 1,357 Police pension aid 68', 000 77, 698 9, 698 79, 329 Firemen pension aid 5S, 000 51, 856 7,144) 67, 920 Total State Shared Taxes $2,261,251 $2,443,643 182,39� $2,188,462 Total Intergovernmental. Re�en�ue $2,278,463 $2,459,133 180,670 $2,213,486 Charges for Services Inter-Fund charges Adminisfratian Public Utility Fund 107,269 10?, 269 -0- 99, 814 Liquor Fund 37, 060 36, 072 988) 31, 683 Other Funds 1,?85 1,785 2,180 Engineering and clerical fees 50, 000 144, 364 94, 364 154, 009 General government charges 15,780 32,598 16,81$ 19,357 Public safety charges 9, 396 13, 523 4,127 13, 424 Recreation fees 534,073 524,317 (9,756) 468,503 Other charges 1,363 Total Charges for Services 753, 578 859, 928 106, 350 790, 333 Court Fines Fines 120,000 154,812 34,812 146,204 Tota1 Court Fines 120,000 154,812 34,812 146,204 Miscellaneous Rent l0, D00 9, 685- 315) 11, 986 Inter�st on investm�nts 100.,000 173,126 73,126 168,�31 Other 26,U00 64,222 38,222 15,728 Total Miscellaneous 136, 000" 247,A33 111, 033 195, 945 Total Revenue. $5, 686,107 $6,182, 784 496, 677 530, 386 49- 1 Cit of Brookl n Cen Y Y ter A-3 General Fund (Continued from prior page) STATEMENT OF REVENUE -.BUDGET AND ACTUAL OBJECTIVE CLASSIFIGATIO. N For the Year 1983 With Comparative Actual for 1982 1983 1982 Actual Over Budget Actual (Under) Bud�et Actual Other Financing Sources Operating transfers in 409, 063 486, 511 77, 448 407, 309 Total Other Sources 409,063 486,511 77,448 407.,309 Total Revenue_and Other Sources $6, 095,170 "$6, 669, 295 $__574,125 $5, 937, 695 (See notes to: financial statementsj -50- City of Brooklyn Center A-4 General Fund (Continued next page) STATEMENT OF EXPENDITURES COMPARED TO BUDGET (GAAP BASIS) For. the Year. Ended- Dec�mber 31;. 1983. With Comparative Actual Arnounts for the Year Ended December 31, 19$2 1983 1982 Eietual Over Budget Actual (Under) Budget Actual General Government Mayor and Council: Personal services 24,812 1Z,892 (6,920) 17,900 Services and other charges 25, 428 24,'373 (1, 05.5) 31, 481 Total Mayor and Counc� 50,"240 42, 265 7, 975) 49, 381 Charter Commission Services and other charges 1, 500 359 (1,141) 123 Total Charter. Commission 1, 500 359 (1,141) 123 Administratiue office: Personal services 203, 534 185, 865 $(17, 669) 169 069 Supplies 1, 204. Services and other charges 20,100 16, 317 (.3, 783) 14, 828 Capital outlays 9, 05.0 8, $33 217) 731 i Total Adminisfrative Office 232, 684� 211, 015 21, 609) 185, 832 Elections and voter regisfratian Personal services 5, 715 3, 952 (1,. Z63) 894 Services and other charges 10, 525 5, 696 (4, 829) 11, 437 Total Electians 16, 240 9, 648 (6, 592)` 19, 331 Assessor's office: Personal services 132, 482 112, 693 $(19, 789) 104, 084 Supplies 1, 985 963 (1, 022) 991 Services and other char�es 6, 663 4,.478 2,185) 4, 851 Capital outlay 80.0: 838 38 389 Total Assessor's Office 141, 930 118, 972 22, 958) 110, 315 Finance Personal services 199, 402 189, 39? $(10, 005) 180, 934 Supplies 144 Services and other charges 750 825 75 383 Capital outlay 650 541 (109) 683 Total Finance 200, 802 190, 763 $(10, 039) 182,144 -51- 1 City of Brooklyn Center A-4 General. Fund (Continued next page) STATEMENT OF EXPENDITURES COMPARED TO BUDGET (GAAP BASIS) For the Year Ended December 31, I983 With Comparative Actual Amounts for the Year Ended December 31, 1982 1 1983 1982 Actual Over Budget Actual (Under) Budget Actual General Government (continued) Independent audit Services and other charges 18,000 10,083 (7,917) 15,248 Total Independenf Audit 18, 000 10, 083 7, 917) 15, 248 Le gal 5ervices and other charges 135,000. 134,217 (783) 107,133 Tota1 Lega1 135,OOU 134,217 (783) 107,133 Government buildings: Personal services 180,695 161,082 $(19;613) 149,633 Supplies 16, b00 18, 388 1, 888 18, 211 1 Services and other charges 99,880 100,551 671 68,12$ Capital outlay 60,129 56, 721 3, 408) 102, 302 Total Government Buildings 357, 204" 336, 742 20, 462) 338, 274 Total General Government $1.,153, 60U $1, 054, 064 99, 536) $1, 007, 781 Public Safety Police protection Personal services $1,368,403 $1,317,415 (50,988) $1,247,745 Supplies 25, 335 16, 832 8, 503) 11, 380 Services and other charges 93,547 104,614 11,06.7 84,671 Capital outlay 52, 226 5I, 306 920) 58, 965 Tota1 Police Pro#ectian $1, 539, 511 $1, 490,16T $(49, 344) $1, 402, 761 Fire protection Personal services 148,409 124,360 $(24,049) 136,989 Supplies 9, 985 7, 86�2 2,123) 9, 729 Services and other charges 22,848 17,423 (5,425) 13,927 Capital outlay 10,'480 10, 406 74) 136, 635 Total Fire Protection 191,722 160,051 $(31,671) 297,280 Protective inspection; Personal services 165,669 158,417 (7,252) 149,784 Supplies 750 708 (42) 540 Services and other charges 10, U23 9, 898 (125) 7, 087 Capital outlay 1, 792 2, 201 409 409. 1 Total Protective Inspectian 178,234 171,224 (7,010) 157,820 _52_ 1 City of Brookiyn Center A-4 General Fund (Continued next page) STATEMENT OF EXPENDITUR.ES COMPARED TO BUDGET (GAAP BASIS) For the Year Ended Dec�mber 31, 198"3 With Comparative Actual Amounts for the Year Ended December 31, 1982 1983 1982 Actual Over Budget Actual (Under) Budget Actual Public Safety (continued) Emergency preparedness: Personal services 36,794 34,426 {2,368) 27,567 Supplies 465 148 (317) 47 Services and other charges 5, 365 6,146 781 5, 255 Capital outlay 1, 557 1, 294 (281) 1,193 Total Emergency Preparedness 44,199 42,014 (2,185) 34,062 Animal control: Services and other charges 13, 000 il, 666 (1, 334) 9, 916 Total Animal Con#rol 13, 000 11, 666 (1, 334) 9, 916 Total Public Safety $1, 966�, "666 $1, 875,122 91, 544) $1, 901, 839 Public Works Engineering Department: Personal services 283, 605 271,130 .$(12, 475) 258, 096 Supplies 4, 500 4, 331 (169) 3, 211 Services and other charges 6,U00 2,.697 (3,303) 1,975 Capital outlay 4, 990 3, 991 999) 3, 800 Total Engineerin� 299, 095. 282,149 $(16, 946) 267, 082 Street Department Personal services 391, 90Z 385, 834 6, 068) 359, 302 Supplies 150,950 126,820 (24,130) 135,121 Services and otMer charges 5, 225 1, 050 4,175) 6, 831 Capital outlay 66", 000_ 66, 920 920 7, 769 Total Street 614,077 580,624 $(33,453) 509,023 Maintenance shop Personal services 113, 311 107:, 052 6, 25'9) 104, 481 Supplies 184, 300 1,35, 443 (48, 857) 156, 938 Services and other charges 28, 500 '�8, 30'I 9,_807 26, 847 Capital autlay 975. 902 73) 13, 734 Total Main�enance. Shop 327, 086 281, ?04 $(45, 382) 302, 000 Traffic signals and lights: Supplies 750 35 715) 221 Services and other charges 162, 700 143, 569 (19,131) 135, 615 Total Traffic Signals 163, 450 143, 604 $(19, 846) 135, 836 Total Public Works $1, 403, 708 �1. 288. 081 $(115. 627) �l, 213, 941 -53- 1 City of Brooklyn Center A-4 General .Furid. (Continued next page) STATEMENT OF EXPENDITURES _COMPARED TO BIJD.GE� (GAAP BASIS) For. the Year Ended_ I3ecemb�r 31,. 1983. With Comparative Actual Amounts for the Year Ended December 31, 1982 1983 1982 Actual Over Budget Actu�l (Under) Budget Actual Community. Health. Services Heaith regulation Services and other charges 29,700 28,663 (1,037) 26,676 Total Heaith Inspection 29, 700 28, 863 (1, 037) 26, 676 Detached worker program: Services and other charges 9, 568 Total Detached Worker 9, 568 Total Commuriity Health 29, 700 28, 663 (1, 037) 36, 244 Parks and Recreatian Administration Personal services 169,878 161,455 (8,423) 152,059 Supplies 5, 400 5, 077 323) 3, 483 Services and other charges 20,.500 13, 901 (.6, 599) 17, 588 Capital outlay 6, 610 7, 392 782 490 Total Adminisfrati�ri 202", 388 187, 825 $(14, 563) 173, 620 Adult programs: Personal services 1, 000 T, 000 -0- 10, 851 Supplies 17, 404 28, 804 11, 404 22, 946 Services and other charges 130, 090 110, 666 (19, 424) 69,142 Total Adult Programs 148, 490 140, 470 8, 020) 102, 939 Teen programs: Personal services 3,100' 1, 571 (1, 529) 1, 880 Supplies 220 605 385 284 Services and other charges 1, 250 1, 568 318 2, 255 Total Teen Programs 4, 570 3, 744 826) 4, 419 Children's programs: Personal services 17, 900 22,188 4, 288 13, 685 Supplies 6, "200 6, 881 681 6, 293 Services and other charges 19,230 11,258 (7,972) 11,894 Total Children's Programs 43", 330 40, 327 3, 003) 31, 872 -54- l City of Brooklyn Center A-4 General Fund (Continued from prior page) STATEMENT OF EXPENDITURES COMPARED TO BUDGET (GAAP BASIS) For the Ye.ar Ended December 31., 1983 With Comparative Actual Amounts for the Year Ended December 31, 1982 1983 1982 �ctual Over Budget Actual (Under) Budget Actual Parks and Recreation (continued) General programs: Personal services 21,900 21,231 (669) 25,989 Supplies 4, 370 l, 925 (2, 445) 6, 766 Services and other charges 32, 515 30, 249 (2, 266) 27, 251 Total General Programs 58, 785 53, 405 5, 380) 60, 006 Community Center: Personal sErvices 171,365 165,443 $(5,922) 152,803 Supplies 32, 570 33, 596 1, 026 30, 489 Services and other charges 125, 430 120, 002 5, 428) 109, 630 Capital outlay 34, 730 36, 632 1, 902 27, 597 Total Commuriity Center 364, 095 355, 673 8, 422) 320, 519 Park maintenance Personal services 355,891 325,985 $(29,906) 315,563 Supplies 43, 850 40, 366 3, 484) 25, 493 Services and other charges 50,"450 37,602 (12,848) 32,521 Capital outlay 82, 705 83, 510 805 55, 347 Total Maintenance 532, 896 487, 463 $(45, 433) 428, 924 Total Parks and Recreation $1, 354, 554 "$1, 268,�907 $(85, 647) $1,122, 299 Non-Uepartmental Expenditures not charged to departments: Personal services 154,141 55, 701 98, 440) 86, 890 Supplies 17, OOU 15, 245 (1, 755) 14, 506 Services and other charges 217, 5�1 21, 007: (196, 544) 114, 383 Capital outlay 31, 976 Total Non-Departmental 388, 692 91, 953 296, 739) 247, 755 Total Expenditures $6, 296, 920 '$5, 606, 790 690,130) $5, 529, 859 (See notes to financial statements) 1 -55- City of Brooklyn Center, Minnesota SPECIAL REVENUE FUNDS The S ecial Revenue Funds were established to account for revenues derived P 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 furid 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. The City's SpeciaT Revenue Funds included in this seetion are Federal ftevenue Sharing Furid: This Fu�ic� was estabiished to account for funds received unc�er the "State and Local Fiscal Assistance Act of 1972" as amended in 1976." Anti-Recession Fiscal Aid Furid This Furid was established to account for funds received urider "Title II of the Public Works Employment Act of 1976" Public Employees Retirement Furid; This Fund was originally established to. account for the central collection of employer and employees' share to pay employee pension contributions urider various pension programs. Pension contributions are now processed through each individual Furid. Diseased Tree Removal Furid: This Fund was established to accourit for the collection of resources and expenditure of these resources for diseased tree control LCMR and Lawcon Eurid This Furid was established to accourit for land and water conservatiari furids received from federal and state grants. Transfers axe made from this Furid to the Capital Projects Fund where accouriting for project costs takes place. Commuriity Development Block Grant Furid The Furid was established to account for funds received urider Tit1e 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. Open Space Land Acquisitian Fund: This �'urid was established to account for funds received #rom federal, state, and courity g'rants for financial assis- tance for the acquisitian of public open space iands within the community. Housing and Redevelopmenf_ Authorit�i. Fund: This Fund was established to account for the Housing and Redevelopmenf Authority (HRA) of Brooklyn Center. r Cit of Brooklyn Center Specia� Revenue Funds COMBINING BALANCE SHEET DeCember 31, 1983 With C�mparative Totals or December 31, 1982 Federal Anti-Receasion Public Diseased Community Open Space Hovaing and Revenue Fiscal Employees Tree LCMR and Development I.artid Redevelopment Sharin� Aid Retirement Removal Lawcon Block Crent Acquisition Authority 1983 1982 ASSET5 Temporary uivestments =458,059 S 2.l77 =597.188 s 70,772 f 5.868 =1,131.359 t891,336 Accounts receivable 694 699 1,208 Taxes receivabie: Deferred special assessmenta 14,244 14.244 Delinquent: Special assessments 513 513 245 Ad valorem 2,699 1.290 3,989 2,851 Due from other funds 482,518 482,519 12,i50 D ue from other governmenta 39,634 89.975 S 85.865 225,474 55,07& TOTAL ASSETS 5497,687 s 2,477 =599.68T 15,451 =160,747 95,66 t 2,869 �483,809 :1,858,792 5963,9G6 LIABILITIES AND FUND BALANCH Liabilities Accounts payuble 2,215 227 6,088 8,530 S i,196 Due to other funds =360.731 17,860 258,593 637,184 D ue to other governments 32,006 Deferred revenue 14,244 14,294 Temporary construction loan 114 5.206 85.727 91,047 Total Liabilities �360,731 S S-0- S 16,573 f-0- 23,293 S-0- 5350,908 S 751,005 i 39,202 i cn Fund $alances Reserved S 89,975 S 89.975 5614,980 C�nreserved ;136.956 2,d7T S599.88T S(1.122) 70,772 T2,572 S 2.869 5133,901 1,017,812 309,284 Total Fund Balances 5136,956 j 2,477 5599,887 S(1.122) S160.747 S 72.572 S 2,869 5138.401 51,107,78? 5924,264 TOTAL LIABILITIES AND FUND BALANCES �997,687 2,477 5599,88T S 15,451 s160.747 S 95,865 2.869 :483,809 51,856,792 S9G3,466 ESee notea to financial atatements) City of Brooklyn Center Special ftevenue Funds. COMBINING STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BALANGE� Year Ended December 31, 1983 With Comparative Totals for the Yea.r Ended December 31, 1982 Federal Revenue Sharin� Fund Over (Under) Revenues Bud�et Actual Budget Intergovernmental: Federal grants 155,00 153,179 (1,821) Total Inter�overnmental 155, 00 153,179 $(1, 821) Charges for services: Fees Administrative Total Char�es for Services -0- -0- 0 Miscellaneous: Interest on investments 3Q,000 35,942 5,942 Other Total Miscellaneous 30,.000 35, 942 5, 942 Total Revenues 185, 000 189,121 4,121 Expenditures Personal �ervices Services and other charges 66 66 Total Expenditures -0- 66, 66 Excess (Deficit) of Revenues Over Expenditures 185, 00.0 189, 05.5 4, 055 Other Financin� Sources (Uses) Proceeds of G.O. bonds Operating transfers out 382, 715) 360, 731) 21, 984) Total Other Financin� t Sources (Uses) $(382, 715) $(360,.73I) $(21, 984) Excess (Deficit) of Revenues and Sources Over Expenditures and Other Uses $(197, 715) $(171, 676) 26, 039 Fund Balances January 1 308, 632 308, 632 Fund Balances December 31 Reserved Unreserved 110,917 136,956 26,039 Total Fund Balanced December 31 110, 917 136, 956 26, 039 -57- Anti-Recession Fiscal Aid Fund P 1' ub ic Employee Retirement Fund Over Over (Under) (Under) Bud�et Actual Bud�et Budget Actual Bud�et 0 -0- -0- -0- -0- -p- I -0- -0- -0- -0- -0- -0- i 200 223 23 50,000 53,862 3,862 200 223 23 50,000 53,862 3,862 200 223 23 50,000 53,862 3,862 4,875 3,814 $(1,061) -0-.. -0- -0- 4,875 3,814 �(1,061) 200. 223 23 45,125 50,048 4,923 ,-0- -0- -0- -p- -p- -p- 200 223 23 45,125 5Q�048 4,923 2,254 2,254 549,836 549,839 2,454 $2,477 23 $594,964 599 887 4 92 3 $2,477 -_Y 23 $594,964 $599,887 58- City of Brooklyn Center Special Revenue �'unds COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE� Year Ended December 31, 1983 With Comparative Totals for the Year Ended December 31, 1982 Diseased Tree Removal Fund Over (Under) Budget Actual Budget Kevenues Intergovernmental: Federal grants Total Intergovernmental -0- -0- -0- Charges for services: Fees 20,000 17,298 (2,702) Administration 2, OOU 1, 815 (185) Tota� Charges for Services 22, 000 19,113 $(2, 887) Miscellaneous Interest on investments Other 6,000 5,979 (21) Total Miscellaneous 6, 000 5, 979 21) Total Re;venues 28, 000. 25, 092 $(2, 908) Expenditures Personal services Services and other charges 20,000 20,471 (471) Total Expenditures 20, 000 20, 471 471) ExCess (Deficit) of ftevenues Over Expenditures 8, UOU 4, 621 (3, 379 Other Financin� Sources (Uses) Proceeds oY G.O. bonds Operating transfers out Total Other Financing Sources (Use�) -0-. -0- -0- Excess (lleficit) of Revenues and Sources Over Expenditures and Other Uses 8,000 4,621 (3,379) Fund Balances January 1 (5, 743) (5, 743) Fund Balances December 31 fteserved Unreserved 2,257 (1,122} 3, 379) Tota1 Fund Balances December 31 2, 257 $(1,122) 3, 379) 59- Community Development LCMR and Lawcon Fund Block Grant Fund Over Over (Under) (Under) Bud.get Actual Budget Bud�et Actual Budget 120,000 120 55 230,000 231,696 1,696 120,000 120,055 55 230,000 231,696 1.696 -0- -0- -0- -0- -0- -0- 5,OOU 5,631 631 5,000 5,631 631 -p- 0 0 125,000 125,686 686 230,000 231,696 1,696 8 000 7,677 (323) 30,.000 30,080 80 65,000 61,682 (3,318) 30,000 30,080 80 73,000 69,359 (3,641) 95,000 95,606 606 157,000 162,337 5,33? (90,000) 91 305 1 �305 .-0- -0- -0- (90,000) (91,305) 1,305 95 000 95 606 606 67,000 71,032 4,032 65,141 65,141 1,540 1,540 89, 975 89, 975 70,166 70,772 606 68,540 72,572 4,032 160,�141 747 606 68, 540_ $__72, 572 4, 032 -60- City of Brooklyn Special Revenue Funds COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES Year Ended December 31, 1983 With Comparative Totals for the Year Ended December 31, 1982 Open Space Land Acquisition Fund Over (Under) Revenues Bud�et Actual Budget Intergovernmental: Federal grants Total Intergovernmental -0- -0- -0- Charges for services: Fees Administrative Total Charges for Services -0- -0- -0- Miscellaneous Interest on investments 200 268 68 Other Total Miscellaneous 200 268 68 Total Revenues 200 268 68 Expenditures Personal services Services and other charges Total Expenditures -0- -0- -0- Excess (Deficit) of Revenues Over Expenditures 200 268 68 Other Financin� Sources (Uses-) Proceeds of G.O, bonds Operating transfers out Total Other Financing Sources (Uses) -0- -0- -0- Excess (Deficit) of Revenues and Sources Over Expenditures and Other Uses 200 268 68 Fund Balances January 1 2, 601 2, 601 Fund Balances December 31 Reserved Unreserved 2,801 2,869 68 Total Fund Balances December 31 2, 801 2, 869 68 (See notes to financial statements) -61- Housing and Redevelopment Authority Fund Totals Over Uver (Under) (Under) Budget Actual Budget Budget Actual Budget 505,000 504,930 (70) -0- -0- -0- 505,000 504,930 (70) 20,000 17,298 (2,702) 2,000 1,815 (185) -0- -0- -0- 22,000 19,113 (,2,887) 7,000 8,567 1,567 92,400 104,493 12,093 270;OOA 278;402 8,402 276,000 284,381 8,381 277,OOU- 286,969 9,969 368,400 388,874 20,474 277,000 286,969 9,969 895,400 912,917 17,517 8,000 7,677 (323) 600,.000 545,436 (54,564) 719,875 661,549 (58,326) 600,000 545,436 (54,564) 727,875 669,226 (58,649) $(323,000) $(258,467) 64,533 167,525 243,691 76,166 930,000 913,700 (16,300) 930,000 913,700 (16,300) (607,000) (521,832) 85,168 (1,079,715) (973,868) 105,847 323,000 391,868 68,868 (149,715) (60,168) 89,547 -0- 133,401 133,401 17,810 183,523 165,713 924,264 924,264 89,975 89,975 -0- 133,401 133,401 852,099 $1,017,812 165,713 -0- 133,401 133,401 942,074 $1,107,787 165,713 -62- City of Brooklyn Center, Minnesota DEBT SERVICE FUNDS The Debt Service Funds were established to account for the payment (from taxes and other resources) of interest and principal on long-term, general obligation debt other than that payable from special assessments and debt issued for and serviced primarily by the City. The Debt Service Funds are maintained on the modified accrual basis of accounting. Revenues are recogriized in the accounting period in which they become available and measurable. Expenditures are recognized in the 1 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 Furid was established to.account for the accumulation of resources for payment of principal and interest on general obligatiQn bonds authorized by the electorate in 1957 to finance various park improvements. Library BQnds Debt Service Fund: This Fund was established to account for the accumulation of resources for payment of principal and interest on general obligatiQn bonds authorizeci by the electorate in 1964 to finance the constructian of the City Library. The Library tn�as sold to Hennepin Courity during 1969 and the proceeds of the sale are used for making principal and inferest payments. The taxes levied for debt redemptian have been cancelled. General Obligation State Aid Street Bonds Debt Service: This Fund was established to acco�nt for the accumulatiori of resources (which include a combination of state aid allotments and special assessments) for payment of principal and interest on bonds icsued in 1970 to finance a comprehensive 1 improvement and upgrading of those arterial streets which qualify as state. aid routes. 1969 Building and Tmprovement Debt Service Furid: This Fund was established to account for the accumulation ot resources for payment of principal and inter�st on general obligation bands authorized by the electorate in 1968 to finance constructiori of the Civic Center, MuriicipaI Service Garage, East Fire Station, and the development of exisfing parks. Park Bonds of 1980 Debt Service Fund: This Furid was established to account for the accumulation of resources for payment of principal and interest on general obligation bonds authorized by the electorate in 1980 to finance the improvement and equipping of parks, parklands and related public recrea- tional facilities. These improvements include neighborhood parks, Central Park, Palmer Nature Center, Shingle Creek Trailway and the Arboretum. General Obligatian Tax Increment Bonds of 1983 Fund: This Fund was established to account for the accumulation of resources for payment of principal and interest on general obligatiQn bands issued in 1983 to finance purchase of land and installatian of utilities for housing for the elderly. w■� r r r �r r City of Srooklyn Center C-1 Debt Service Funds COMBiNING BALANCE SHEET December 31, 1983 With Comparative Totals or December 31, 1982 State Aid Improvement Park G.O. Tax Increment Park Library Street t Buiiding Bonds Bonds Totals Bonds Bonds Bonds Bonds of 1980 of.1983 1�83 1982 ASSETS Tenporary investments :153,613 ;?3,365 3,495 =28�,090 j125,032 :643,595 5560,894 Tsxes receivable: Delinyuent 1,028 30,346 15,274 46,646 47,066 D ue from other funds 5200,025 200,025 :OT AL ASSETS 5159,641 S 73,365 3,995 5318,436 5140,306 5200,025 Sg90,268 5607,960 LIABILITIES AND FUND BALANCES Liabilities Accounts payabie 1 D ue to other funds 11,925 11,925 Totnl Linbilities -0- -0- S -0- S 11,925 -0- -0- 11,925 S 1,898 Fund B:il:inces I:eserved 10,380 S 3,495 ;306,511 S190,306 ;200,025 ;660,717 ;910,270 L'nreserved 5159,641 62,985 217,626 195,792 Total Fund Balances ;154,691 73,365 S 3,995 E306,511 5190,306 5200,025 5878,393 5606,062 i O� TOTAL LIABILITIES AND FUND BALANCES i159,641 73,365 S 3,495 5318,936 5140,306 5200,025 5890.268 5607,960 w i (See notes to financial statements) City of Brooklyn Center C_2 Debt Service Funds COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGESIN FUND BALANCBS Year Ended December 31, 1983 With Comparative Totals for the Year Ende�December 31, 1982 State.Aid- ImproYement Park G.O. Tax Increment Park Library Street Building Bonds Bonds Totals Bonds Bonda Bonds Bonds of 1980 of 1983 1983 1982 Revenues Get�eral property taxes 5153,686 5127,271 =280,957 5368,001 Interest on investments S 19,376 7.859 1,613 28,305 3,184 55,337 53,773 lntergovernmental revenue State shared taxes: State grants S 99.714 41,170 gp,ggg Other 1,698 1�898 27:390_ Total Revenues 14,376 7,859 S 3,511 5231,705 ;171,625 =-0- ;429,076 5949,164 Expenditure5 Principt�] S 10,000 60,000 Interest 5130,000 f 40,000 s240,Q00 ;195,000 R60 33,750 63,706 112,020 210,230 224,100 Fiscal e�;et1Y fees 21 66 199 304 380 397 Other 1�898 T�tal Expenditures S-0- S 1Q.,781 S 93,816 5193.899 5152.i24 S-0- 5450,620 S92T,395 Excess (Deflicit) of Revenues Over�enditures Sll,376 ;(2,822) j(90,305) 37,806 19,501 =-0- E(21,544) 27,769 Other Fin:�ncin� Sources (Uses) Operciting transfers m- S 93,800 5200,025 �293,825 70,192 Excess (Deficit) of Revenues and Other Sources Oc_er-,�enc]itures j 14,376 =(2,922) s 3,955 3T,806 3 19,501 �200,025 j272,281 S 97,.�61 Fund Balances January 1 ;140.265 S76,28? -0- 268,705 120,805 -0- 606,062 508,101 Fund Baiances December.31 s154,641 :T3,365 S 3.495 S306,511 :140,306 =200,,025 :878,393 5606,062 (See notes ta financial atatements) r� r ri City of Brooklyn Center, Minnesota CAPITAL PROJECTS FUNDS The Capital Projects Furids were established to account for all resources used for the acquisition of capital facilities by the City except those financed by SpeciaT Assessment and Enterprise Furids. The Capital Projects. Funds are maintained on the modified accrual basis of accounting. Revenues are rec�gnized in the accounting period in which they become available and measurabie. Expenditures are recognized in the accounting period in which the related liability is incurred. The City's Capital Projects Furids included in this sectiQn are: Capital Projects Furid This Furid was established in 1968 to provide funds, and to accourit for the expenditure of such funds, for major capital outlays (which shall include, but not be limited to, constructian or acquisitiQn of major permanent facilities having a relatively long life) andlor to reduce debt incurred for capital outlays. The sources of revenue for the Fund include ad valorem taxation, tran�fers from other Funds, issuance of bonds, federal and state grants, and int�r�st earnings. Municipal State Aid for Constructiari Fund: This Furid was established to account for the state allotment of gasoline tax collections used for trans�ortation related constructiQn projects. r City of Brooklyn Center D-1 Capital Projects Funds COMBINING BALANCE SHEET December 31, 1983 With Comparative Totals for December 31, 1982 Municipal Capital State Aid Projects for Totals Fund Construc. tion 1983 1982 ASSETS Temporary investments $1,726,027 $2,825,231 $4,55I,258 $4,884,230 Due from other funds 88, 683 28, 834 117, 517 384, 002 Due from other governments 413, 050 413, 050 13, 048 TOTAL ASSETS $1, 814, 710 $3, 267,115 $5, 081, 825 $5, 281, 280 LIABILITIES AND FUND BALANCES Liabilities Accounts payable 16, 961 355 17, 316 980 Contracts payable 107,359 107,359 654,713 Due to other funds 478, 032 3, 370 481, 402 1�8, 824 Due to other governments 73, 630 Total Liabilities 602, 352 3, 725 606, 077 868,147 Fund Balances Unexpended appropriations 270, 760 3, 745 305, 505 $1,197,190 Balance restricted to State- approved projects 1,634,239 1,634,239 1,366,220 Unreserved 941,598 1,594,406 2,536,004 1,849,723 Total Fund Balances $1, 212, 358 $3, 263, 390 $4, 475, 748 $4, 413,133 TOTAL LIABILITIES AND FUND BALANCES $1, 814, 710 $3, 267,115 $5, 081, 825 $5, 281, 280 i 1 (See notes to financial statements) -65- City of Brooklyn Center D-2 Capital Projects Funds COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES Year Ended December 31, 1983 With Comparative Totals for the Year Ended December 31, 1982 Municipal Capital State Aid Projects for _Totals Fund Construction 1983 1982 Revenues Intergovernmental State grants 508,661 508,661 458,096 Interest on investments 170,777 278,253 449,030 445,805 Other 80,374 80,374 40,813 Total Revenues 251,151 786, 914 $1, 038, 065 944, 714 Expenditures Capital outlays $1, 026, 294 206, 988 $1, 233, 282 $1,132, 585 Total E�enditures $1, 026, 294 206, 988 $1, 233, 282 $1,132, 585 Excess (Deficit) of Revenues Over Expenditures 775,143) 579, 926 $(195, 217) $(1'87, 871� Other Financing Sources (Uses) Operating transfers in 357,108 357,108 207, 231 Operating transfers out 99, 276) 99, 276) (163, 268� Total Other Financin� Sources (Uses) 357,108 99, 276) 257, 832 43, 963 Excess (Deficit) of Revenues and Other Sources Over Expen�litures and Other Uses 418, a35) 480, 650 62, 615. $(143, 908� Fund Balance January 1 1, 630, 393 2, 782, 740 4, 413,133 3, 957, 041 Residual tranfers in 600, 000 Fund Balance December 31 $1, 212, 358 $3,263, 390 $4, 475, 748 $4, 413,133' i 1 1 (See notes to financial statements) -66- CitY of Brooklyn Center S-1 Capital Projects Fund PROJECT LENGTH SCHEDULE OF CONSTRUCTION PROJECTS From Be�innin� to December 31, 1983 Park Federal State Comm. Fund Total Bonds Lawcon LCAiR D�velo� Balence Other Appropriations Expenditures Central Park Landscaping 55,996 s 53,247 108,743 97,086 Central Park/Garden City Trail 8,500 S 92,500 34,000 85,000 85,5G7 Palmer Lake Basin 102,500 ?1,070 82,915 256,485 228.G89 Park Eonding Costs 17, 838 (159) 17, 6"9 17, 679 Central Park III 340,806 85,000 425,806 188,930 Arboretum 169,000 992 169,492 169,492 Neighbort�ood Parks 730,560 $125,004 98,091 72,038 975,693 933,264 Shingle Creek Trailway II 300 98,950 78,760 16,190 193,700 167,084 Centra] Park II 75,000 95,628 97,814 40,000 26,429 284,871 284,871 TOTAL PARK BOND PROJECTS f1,500,000 =307,698 5296,736 =165,004 S 1T6,043 S 72,038 ;2,517,969 52,172,657 Unallocnted Expenses T,281 7.281 11,556 Brcokwood Utilities 463,690 463,690 321,80? 117unicipal Garage Improvements 299,200 370,800 618,000 558,070 Lions' Park �Vest ?3,392 73,392 75.173 Civic Center Building Access S 20,000 20,000 8,520 M unicipal Service Garage Entry 6,304 6,309 6,304 Civic Center Access 200,000 97,100 297,100 275,045 Sidewalk Curb Cuts 12,000 12,000 10,086 Solar Demonstration Project 40,000 90.000 41.594 Roadwny Improvements a Signals 59,923 53,179' 113,102 113,102 Police Department Communicationa 225,000 225.000 220,308 i CEA P Services 194,000 149,000 199,000 Ci[y Hall Elevntor 65,000 65,000 52,G74 Garden City Park Shelter Building 25,869 35,000 60,864 60,869 Brooklane Park Shelter Building 42, 989 92, 989 42, 984 Salt Storage Building 74,816 74,816 79.816 Shingle Creek Relocation 30, 986 30, 986 30, 986 Shingle Creek Trailway I 71, 950 57, 560 183,614 313,124 289, 239 Central Park I 100,000 50,000 94,969 299,969 294,969 TOTAL PROJECTS s1,500,000 =979,598 5404,296 =302,004 51,223,3T6 ;1,460,807 ;5,370,081 ;4,749,799 (See notes to financial statements) 1 City of Brooklyn Center S-2 Municipal State Aid Construction Fund PR,OJECT-LENGTH SCHEDULE OF CONSTRUCTION PROJECTS From Beginning to December 31, 1.983 Pro'ect A ro riation Ex enditures J PP P P Brookwood Sidewalk 24, 000 -0- Channelization Highway #152 and 65th Street 3, 038 2, 916 Pedestrian bridge Brookdale 182, 005 171, 382 Totals $209, 043 $174, 298 Total Appropriations $209, 043 Less: Expenditures 174, 298 Unexpended Appropriations $_34, 745 (See notes to financial statements) -68- City of Brooklyn Center, Minnesota SPECIAL. ASSES.SMENT F�UNDS 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 speciaT assessments levied against benefited properties, and ta pay principal and interest on the general obligation special assessment bonds sold to finance these improvements. The method of financing these projects disfinguishes special assessment improvements from those which benefit the entire City and whicli are financed by general revenues or general obligation bonds. The City's Special Assessment Eurids are mainfained on the modified accrual basis of accouriting. Revenues' are recognized in the accouriting 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 issuect to finance the various improvement projects contained therein 1 City of Brooklyn Center Special Assessment Funds COMBINING BALANCE SHEET December 31, 1983 With Comparative Totals for December 31, 1982 Bond #1 1955A 1956AC 1956B 1957AB 1958A 1958B 1959AB 1960AB 1961AB ASSETS Temporary investments 3, 482 $118, 714 $232, 680 24, 644 59, 65S $178, 286 $150, 897 59, 223 $378, 032 $487, 436 Accounts receivable Special assessments receivable Deferred 196 3,411 5,287 93 Delinquent 14 137 687 544 Due from other funds 10, 750 30, 680 Bond discounts TOTAL ASSETS 482 $118, 714 $232, 680 644 $_59, 659 $189, 036 $151,107 $_62, 771 $414, 686 $488, 073 I LIABILITIES AND FUND BALANCES II Liabilitie s Accounts payable Contracts payable Due to other funds Construction loans payable Deferred revenue 196 3, 411 5, 287 93 Bonds payable Total Liabilities -0- -0- -0- -0- -0- -0- 196 3,411 5,287 93 Fund Balances Debt service �,482 $118,714 $232,680 24,644 59,659 $189,036 $150,911 59,360 $409,399 $487,980 Unexpended appropriations Total Fund Balances 3, 482 $118, 714 $232, 680 24, 644 59, 659 $189, 036 $150, 911 59, 360 $409, 399 $487, 980 7 TOTAL LIABILITIES AND FUND BALANCES 3, 482 $118, 714 $232, 680 24, 644 59, 659 $189, 036 $151,107 62, 771 $414, 686 $488, 0 3 (See notes to financial statements) -69- E-1 Construction Totals 1963.A 1965A 1966A 1969A 1970 1973 1976 1982 Fun d 1983 1982 392,946 111,310 143,771 93,921 524,832 233,457 375,615 863,577 $4,432,482 $3,489,955 33,998 12,388 108,620 6,579 161,585 6,166 10,986 35,723 68,954 177,991 112,673 322,376 �2,32y,245 49,296 3,122,397 691 6fi4 1,105 1,467 47 ,756 15,382 18,475 70,006 �156,928 141,189 6,670 165,618 213,718 63,030 5,762 35,438 41,200 43,383 3,406,886 $8,128,310 $3,737,557 I 3,018 2,684 5,702 3,171 32,411 185,469 185,469 14,653 �52,372 252,372 132,493 6,166 10,986 35,723 68,954 177,991 112,673 322,376 2,329,245 49,296 3,122,397 15,000 20,000 70,000 105,000 330,000 185,000 505,000 2,625,000 3,855,000 4,200,000 21,166 30,986 105,723 173,954 507,991 297,673 827,376 5,142,732 304,352 $7,42Q,940 $4,382,728 385,307 91,974 74,876 (9,612) 248,350 97,837 (98,522) t1,735,846) (73,662) 716,567 (694,683) 9,197) 9,197) 49, 512 385,307 91,974 74,876 (9,612) 248,350 97,837 (98,522) $(1,735,846) (82,859) 707,370 (645,171) 406,473 122,960 180,599 164,342 756,341 395,510 728,854. 3,406,686 221,493 $8,128,310 $3,737,557 70- r I Cit�r of Brooklyn Center g_y SPECIAL ASSESSM�NT FUNDS COMBINING STATSMBNT OF REVENUES, �XPENDITURES AIiD CHANGES IN FUND BALANCES Year Ended December 31, 1983 With Comparative Total��the Year Ended December 31, 1982 Excess of Revenues Other And Sources Revenues Other Sources Expenditures Uses O ver 1983 Fund interest on Assessment Translers Bond Construction Tr�ers Expenditures Funcl Balances Fund Salances Total Investments Income In Totffi Interest And Other Out And Uses danuary 1 December 31 Sond Fund �1 326 326 3,156 3,982 1955A 326 11,114 11,114 11,119 107,600 118,714 1956A C 21,T83 21,T83 21,783 210,897 232,680 1956B 2,307 2,307 2,307 22.337 24,644 1 ���•�B 5,585 5,585 5,585 54,079 59,659 19 27,441 16,691 10,750 27,491 161,595 199,036 195SB 14,460 14,100. 360 14,460 136,451 150,911 19b9A B 6,829 5,437 1,392 6,829 52,531 59,3G0 19o0A B 67,553 35,256 1,617 30,680 67,553 341,846 409,399 7961A B 48,927 48,944 483 890 s 870 98,057 439,923 487,980 1963A 52,768 38,194 7,904 6,670 1,310 1,310 51,458 333,899 385,307 1965A 17,598 10,957 6,641 1,163 1,163 16,435 75,539 91,974 1966A 29,091 19,636 14,955 9,330 4,330 29,761 50,115 74,876 1969A 31,636 10,199 21,437 8,558 8,558 1970 23,078 (32,690) (9,612) F-+ 176,064 53,912 122,152 32,018 32,018 194,046 104,309 298,350 19;3 128,971 2Z,941 106,030 11,948 11,448 117,523 (19,686) 97.83? 1976 136,974 29,959 107,015 27,686 27,686 109,288 (207,810) (98,522) 19g= 887.917 31,611 855,806 143,244 193,244 799,173 (2,980,019) (1,735,846) Construction 27,997 27,997 111,693 S 111,674 (83,6T6) 817 (82,859) Totuls 1983 s 1,694,891 373,452 S 1,273,288 s 48,100 342,300 230,627 S 111,673 =-0- 1,352,591 S(695,171) S 707,3T0 Totulsti 1982 1,317,148 $47,599 S 876.473 S 93,076 S 685,T71 106,267 579,504 ;-0- 631,377 S(1.276,548) _(645,171) CSee notes to financiel statements) I City of Brooklyn Center S-3 Special Assessment Funds PROJECT-LENGTH SC,HEDULE OF CONS�ION PROJECTS From Beginning to December 31, 1983 Project (Overexpended)' Unexpended Type of Project Number Appropriations Expenditures Appropriations Watermain 82-06 36, 312 33, 339 2, 973 Watermain 82- 07 36,140 37, 803 (1, 663) Sanitary sewer 82-10 10,888 15,187 (4,299) Watermain 82-11 10, 494 13, 914 3, 420} Unallocated 2, 788 (2, 788) 93,834 $103,031 (9,197) (See notes to financial statements) -72- of n Crty Brookly Center, Minnesota ENTERPRISE FUNDS The Enterprise Funds were established to account for the financing of self-supporting activities of the City whicli render services on a user charge basis to the general public. Revenues and expenses in these Furids are recognized on the accrual basis of accouriting. ftevenues are recr�gnizec3 in the accounting period in which they are earned and become vbjectively measurable. Expenses i are recognized in the period incurred, if objectively measurable. The City's Enterprise Furids included in this section are Municipal Liquor Furid: This Furid was established to accourit for the operations of the City's three muriicipal off-sale iiquor stores. Public Utilities Furid This Fund was established to accourit. for the operations of the City owned water and sanitary sewer systems. I I I I City of Brooklyn Center Enterprise Funds COMBINING BALANCE SHEET December 31, 1983 With Comparative Totals for December 31, 1982 Municipal Public Liquor Utilities Totals Fund Fund 1983 1982 ASSETS Current Assets Cash on hand 3,900 3,900 3,900 Temporary investments 52, 508 2, 506, 634 2, 559,142 2, 508, 920' Accounts receivable 2,141 100,889 103,030 110,156 Less: Allowance for estimated uncollectible 2, O11) 2, O11) (1, 043)' Assessments receivable 6, 429 6, 429 4, 694 Due from other funds 371 371 12, 096 Due from other governments 13,137 13,137 42, 934 Inventories: Materials �nd supplies 14, 405 14, 405 11, 666 Merchandise for resale 252, 510 252, 510 244, 588' Prepaid expenses: M.'W.C.C. charges 74,187 ?4,187 63,908 Rent 3,361 3,361 3,361 `Insurance 248 1,037 1,285 14,533 Maintenance 2, 850 2, 850 2, 846 Accrued water and sewer revenue 187,153 187,153 182, 375 Total Current Assets $315, 507 2, 904, 242 3, 219, 749 3, 204, 934 Restricted Assets Temporary investments 4,000,000 4,000,000 4,000,000 Due from other governments 218, 593 218, 593 228,102 Debt retirement investments 131, 805 131, 805 133, 365 Construction funds invested 113,180 113,180 102, 585� Assessments receivable deferred 118,031 118,031 159,041 Total Restricted Assets $-0- 4, 581, 609 4, 581, 609 4, 623, 093' Fixed Assets I Mains and lines $10, 950, 432 $10, 950, 432 $10, 793, 947 Structures 2,542,425 2,542,425 2,106,525 Equipment $135, 677 332, 366 468, 043 411, 526 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 707, 382 707, 382 776, 384 $197,772 $14,557,421 $14,755,193 $14,175,293 Less: Allowance for depreciation 145, 946 3, 401, 980 3, 547, 926 3, 299, 716' Total Fixed Assets 51, 826 $11,155, 441 $11, 207 267 I $10,875,577 TOTALS $367,333 $18,641,292 $19,008,625 $18,703,604 (See notes to financial statements) 73- Y F-1 Munici al Public P Liquor Utilities Totals Fund Fund 1983 1982 LIABILITIES, CONTRIBUTIONS AND ftETAINED EARNINGS Current Liabilities Accounts payable 60,153 89,335 149,488 80,669 Contracts payable 67,250 67,250 120,448 1 Due to other funds 45, 523 154, 337 199, 860 346, 253 Due to other governments 19, 606 Accrued liabilities 25, 757 4, 837 30, 594 7, 931 Accrued vacation and sick pay 14, 626 �6, 243 30, 869 30, 869 Current portion of long-term debt 40, 000 40, 000 40, 000 Tota1 Current Liabilities $146,059 372, 002 518, 061 645, 776 Long-Term Liabilities Revenue bonds 400,000 400,000 440,000 Less: Current portion 40, 000 40, 000 40, 000 Total Long-Term Liabilities $-0- 360,D00 360, 000 400, 000 Fund Equity Contributions $10, 220, 291 $10, 220, 291 $10, 214, 999 ftetained Earnings: Reserved: Metro Waste Control Commission 218, 593 218, 593 228,102 Debt retirement 131, 805 131, 805 133, 365 Construction funds 113,180 113,180 102, 585 Working capital 620, 000 620, 000 620, 000 ftestricted assesments 118, 031 118, 031 159, 041 Plant expansion 4,000,000 4,000,000 4,000,000 Unreserved $221,274 2,487,390 2,708,864� 2,199,736 Total Retained Earnings $221,274 7,688,999 7,910,273 7,442,829 Total Fund Equity $221, 274 $17, 909, 290 $18,130, 564 $17, 657, 828 TOTALS $367, 333 $18, 641, 292 $19, 008, 625 $18, 703, 604 M��__ 74- City of. B.r.00klyn Center F-2 �nterprise Furids COMBINING STATEMENT OF REVENUES EXPENSES AND CHANGES IN RETAINED EARNINGS For the Year Ended December 31, 1983 With Comparative Totals for the Year Ended December 31, 1982 Municipal Public Liquor Utilities Totals Fund Fund 1983 1982 Operating Revenues Gross margin on product sales 513, 210 513, 210 501, 709 Charges for services $1, 479,102 1, 479,102 1, 521, 676 Total Operating Revenues 513, 210 $1, 479,102 $1, 992, 312 $2, 023, 385 Operatin� Expenses Personal services 247,812 254,460 502,272 478,593 Contractual services 113,576 1,067,OZ4 1,180,590 390,039 Supplies and materials 11, 657 33, 61] 45, 268 76, 335 Heat, light, power 21,710 110,628 132,338 131,960 Depreciation 12, 972 235, 238 248, 210 204, 382 Other 6,617 6,617 10,128 Total Operating Expenses 414, 344 $1, 700, 951 $2,115, 295 $1, 891, 437 O�eratin� Income 98,866 (221,849) (122,983) 131,948 Nonoperating Revenues (�xpenses) Interest earned 5,888 693,155 699,043 726,420 Other revenue (expense) 23,656 23,656 (59,652) Interest and fiscal agent fees (17, 272) (17, 272) (18, 782) Nonoperating Totals 5, 888 699, 539 705, 427 647, 986 Income Before Operating Transfers 104, 754 477, 690 582, 444 779, 934 Operatin� Transfers (Out) 115, 000) -0- (115, 000) (100., 000) Net Income $(10,246) 477,690 467,444 679,934 Retained Earnings January 1 231,520 $7,211,309 $7,442,829 $6,762,895 Retained Earnings December 31 221,274 $7,688,999 $7,910,273 $7,442,829 (See notes to financial statements) 7 5- City of Brooklyn Center F-3 Enterprise Funds (Continued next page) COMBINING STATEMENT OF CHANGES.IN. FINANC:IAL POSITION For the Year Ended December 31, 1983 With Comparative Totals for the Year Ended Deeember.31, 1982 Municipal Public Liquor Utilities Totals Fund Fund 1983 198� Sources of Financial Resources Operations 1 Net income for year $(10, 246) $477, 690 $467, 444 $679, 934 Add: Items not requiring current outlay Depreciation 12, 972 235, 238 248, 210 204, 382 Total Resources Provided By Operations 2, 726 $712, 928 $715, 654 $884, 316 Contributions toward construction 5, 292 5, 292 56,1?7 Decrease in M. W. C. C. receivable 9, 509 9, 509 9, 274 Decrease in assessments receivable deferred 41,010 41,010 Decrease in debt retirement investments 1, 560 1, 560 1, 915 Total Sources 2,726 $770,299 $773,025 $951,642 Uses of Financial Resources Purchase of properties 209 $579, 691 $579, 900 $750,119 Depreciation on property sold 40, 000 40, 000 40,.000 Increase in restricted investments Amortization of deferred gain on sale of assets Construction funds invested 10, 595 10, 595 10, 446 Increase in assessments receivable deferred 17,305 Debt retirement investments purchased Total Uses 209 $630, 286 $630, 495 $817, 870 Net Increase (Decrease) in Working Capital 2, 517 $140, 013 $142, 530 $133, 772 -76- City of Brooklyn Center F- 3 Enterprise Funds (Continu�� f�bn� prior page) COMBINING STATEMENT OF CH.ANGES IN EINAN!CIAL POSITION For the Year Ended December 31, 1983 With Comparative Totals for the Year Ended December 31, 1982 Municipal Public Liquor Utilities Totals Fund Fund 1983 1982 Elements of Increase (Decrease) �n�: UVorkin� Ca�ital TemporarY investments 52, 491 $(2, 269) 50, 222 $390, 889 Accounts receivable (1, 538) (6, 556) (8, 094) 3, 228 Assessments receivable 1, 735 1, 735 835 Due from other funds (11, 725) (11, 725) 11, 976 Due from other governments 29, 797) 29, 797 40, 631) Inventories 7,922 2,739 10,661 (12,730) Prepaid expenses (14, 281) 11, 316 2, 965) 6, 503 Accrued revenue 4, 798 4, 778 (27, 991) Accounts payable 2,178 70, 997) 68, 819) 33, 071 Contracts payable 53,198 53,198 64, 868 Due to other funds (35,523) 181,916 146,393 (300,170) Due to other governments 12, 874 6, 732 19, 606 (1, 093) Accrued liabilities 21, 606) (1, 057) 22, 663) 5, 017 Net Increase (Decrease) in Working Capital 2, 517 $140, 013 $142, 530 $133, 772 (See notes to financial statements) i I -77_ 1 City of Brooklyn Center F-4 Municipal Liquor Fund STATEMENT OF OPERATIONS Year Ended December 31, 1983 With Comparative Totals for the Year Ended December 31, 1982 Year Ended December 31, 1983 1982 Sales Liquor 808,782 $44,922 Beer 1, 249, 725 1, 244, 58b Wine 306,146 326,991 Soft drinks 40, 876 39,117 Other merchandise 16, 467 14, 015 Total Sales (Net of Sales Taxes $2, 421, 996 $2, 469, 630 Less: Cost of Sales Beginning inventory 244, 589 254,194 Purchases (Net of discounts) 1, 916, 707 1, 958, 316 Merchandise available for sale $2,161, 296 $2, 212, 510 Less: Ending inventory 252, 510 244, 589 Cost of Sales $1, 908, 786 $l, 967, 921 Gross Margin 513,210 501,709 Operatin� Expenses 414, 344 407;194 Operating Income 98, 866 94, 515 (See notes to financial statementsl 78- City of BrQOklyn Center F-b Municipal Liquor Fund STATEMENT OF OPERATING EXPENSES Year Ended December 31., 1983 With Comparative Totals for the Year Ended December 31, 1982 Year Ended Decamber 31, 1983 1982 Operating Expenses Personal services: Salaries and wages 209, 927 209, 849 Payroll taxes 18,990 19,004 Employee benefits 18, 895 10, 081 247,812 238,934 Contractual services Professional services 2, 486 3, 778 Insurance 18,971 16,09.8 Maintenance and repairs 1, 758 6, 483 Rent and administration 74, 957 71, 968 Equipment rental 12, 572 10,025 Miscellaneous 2, 832 2, 454 113,576 110,806. Supplies General supplies 11, 657 13, 601 Heat, li�ht and power 21, 710 20, 983 Depreciation 12, 972 12, 959 Other 6,617 9,911 Total Operating 344 (See notes to financiaT statements l 79 City of Brooklyn Center Public Utilities Fund Balance Sheet December 31, 1983 With Comparative Totals for December 31, 1982 Water Sewer Totals Accounts Accounts 1983 1982 ASSETS Current Assets Temporary investments 460,193 2, 046, 441 2, 506, 634 2, 508, 903 Accounts receivable 50,445 50,444 100,889 107,445 Assessments receivable 6, 429 6, 429 4, 694 Due from other funds 371 371 12, 096 Due from other governments 13,137 13,137 42, 934 Inventories materials supplies 14, 405 14, 405 11, 666 Prepaid expenses 75, 224 75, 224 63, 908 Accrued revenue 51, 467 135, 686 187,153 182, 375 Total Current Assets 583, 310 2, 320, 932 2, 904, 242 2, 934, 021 Restricted Assets Temporary investments 3, 700, 000 300, 000 4, 000, 000 4, 000, 000 Due from M.W. C. C. 218, 593 218, 593 228,102 Debt retirement investments 131, 805 131, 805 133, 365 Construction funds invested 113,180 113,180 102, 585 Assessments receivable deferred 118, 031 118, 031 159, 041 Total Restricted Assets 4, 063, 016 518, 593 4, 581, 609 4, 623, 093 Fixed Assets Mains and lines 4�, 067, 970 4, 882, 462 $10, 950, 432 $10, 793, 947 Structures 1,748,766 793,659 2,542,425 2,106,525 Equipr�ent 166,183 166,183 332, 366 276, 058 Land 24, 816 24, 816 24, 816 Construction in progress 608, 909 98, 473 707, 382 776, 384 8,616,644 5,940,777 $14,557,421 $13,977,730 Less: Allowance for depreciation 1, 766, 711 1, 635, 269 3, 401, 980 3,166, 742 Total Fixed Assets 6, 849, 933 4, 305, 508 $11,155, 441 $10, 810, 988 TOTALS $11, 496, 259 7,145, 033 $18, 641, 292 $18, 368,102 (See notes to financial statement:; 80- i F-6 Water Sewer Totals Accounts Accounts 1983 1982 LIABILITIES, CONTRIBUTIONS AND RETAINED EAftNINGS Current Liabilities Accounts payable 89, 335 89, 335 18, 338 Contracts payable 67,250 67,250 120,448 Due to other funds 77,169 77,168 154,337 336,253 Due to other governments 6, 732 Accrued liabilities 21, 080 21, 080 20, 023 Current portion of long-term debt 40, 000 40, 000 40, 000 Total Current Liabilities 294, 834 77,168 372, 002 541, 794 Long-Term Lia.bilities Revenue bonds 400, 000 400, U00 44(�, 000 Less: Current portaon 40,000 40,000 40,000 Total Lon�-Term Liabilities 360, 000 $-0- 360, 000 400, 000 Fund Equity Contributions 4,760,260 5,460,031 $10,220,291 $10,214,999 Retained Earnings: Reserved: Metro Waste Control assets 218, 593 218, 593 228,102 Debt retirement 131, 805 131, 805 133, 365 Construction funds 113,180 113,180 102, 585 Working capital 170,000 450,000 620,000 620,000 Appropriations and assessments 118, 031 118, 031 159, 041 Plant expansion 3,700,000 300,000 4,000,.000 4,000,000 Unreserved 1,848,149 639,241 2,487,390" 1,968,216 Total Retained Earnings 6, 081,165 1, 607, 834 7, 688, 999 7, 211, 309 Total Fund Equity $10, 841, 425 7, 067, 865 $17, 909, 290 $17, 426, 308 TO TA LS $11,496,259 7,145,033 $18,641,292 $18,368,102 -81- City of Brooklyn Center F-7 Public Utilities. Fund STATEMENT OF OPERATIONS AND CHANGES IN RETAINED EARNINGS For the Year Ended December 31, 1983 With Comparative Totals �'or the Yeax Ended December 31, 1982 Water Sewer Totals Accounts Accounts 1983 1982 Operating Revenue Service to consumers 434,992 1,031,780 1,466,772 1,462,796 Service hook-up charges 6, 019 6, 019 49, 020 Sale of ineters (net) (1, 605) (1, 605) 2,182 Penalties 4,159 3, 757 7, 916 7,173 Federal grants 505 Total Operating Revenue 443, 565 1, 035, 537 1, 479,102 l, 521, 676 Operatin� �xpenses 542, 393 1,158, 558 1, ?00, 951 1, 484, 243 Operating Incame 98, $28)� $(123, 021) 221, 849) 37, 433 Nonoperating Revenues (Expenses) Interest earned: Investments 439,016 219,507 658,523 696,705 Special assessments 16, 376 16, 376 16, O11 Metro Waste Control Commission 7, 661 7; 661 7, 661 Construction funds 10, 595 10, 595 10, 446 Other 23,656 23,656 (71,712) Interest and fiscal fees (17, 272) (17, 272) (18, 782)' Total Nonoperating 448, 715 250, 824 699, 539 640, 329 Net Income 349,887 127,803 477,690 677,762 Retained Earnings January 1 5,731,278 1,480,031 7,211,309 6,546,207 Prior year adjustment (12, 660)' Retained Earnings December 31 6, 081,165 1, 6fl7., 834 7, 688, 999 7, 211, 309 (See notes to financial statements) 82- C� of Brooklyn Center F�8 Public Utilities Fund WATER OPERATING EXPENSE For the Year Ended December 31, 1983 With Com arative Totals for the Year Ended December 31, 1982 Classiflication by Function Source of Customer Year Ended December 31, SupPly Transmission Administration Accountin� �36$ tz3+s� Personal Services: Salaries and wages S 22,135 34,086 S 26,617 S 3T,086 S 119,929 S 116,471 Payroll taxes I1,203 11,203 11,761 Employee benefits 6, 909 6, 909 6, 579 22,135 S 39,086 S 94,729 S 37,086 S 136,036 S 134,811 Contrnetuul Services: Professional services 5,184 S 3,237 s 1,222 9,693 s 3.689 Postage 8,371 9,371 9,129 Insurance 2,002 2,002 2,185 Repuirs and maintenance 42,816 4,153 16,689 63,758 17,587 Rent and administration 52, l59 52,159 47, 514 Equipment rental 5,975 5,475 12,103 Miscellaneous 98,100 S�. 7.390 S 77,547 S 9,371 142,408 S 92,293 Supplies and Materisls S 5,429 10,007 S 5,139 563 S 21,133 51.882 Neat, Light and Power: Electricity 91,730 j 91,730 94,397 W Gus 3,958 3.958 3.771 S 95,688. S -0- -0- S -0- 95,688 S 98,118 Depreeiation 58,292 S'' 86.838 195,128 s 113,978 Other S -0- -0- S -0- S -0- S -0- 217 Totals 229,B39 138,319 S 127,915 S 47,020 S 542,393 S 491,299 (See notes to financial stetements) C� of Brooklyn Center F_9 Public Utilities Fund SE�YER OPERATING EXPENSE For the Year Endetl December 31, 1983 Niith Comparative �Totals for the Year Ended Decernber 31, 1982 ClassiCcation by Function Disposal and Customer Year Ended December 31, Pumping Transmission Administration Accounting 19s3 ly8z Personal Services: Salaries and wages S 59,371 3,264 30,106 92,741 88,429 Payroll taxes 11,203 11,203 10,334 Employee be»efite 12,980 12,480 6,085 S 59,371 S 3,264 S 53,789 �-0- S 116,929 S 109,848 Contractual Services: Professional services 1,887 t 1,290 S 1,222 Z 4,399 7,201 Postage S 2,358 2,358 2,632 Insurance 2,002 2.002 2,185 Aepairs and maintenance 7,195 6,429 5,466 19,040 6,496 Rent and edministration 52,159 52,159 47, 574 Equipment rental 5,475 5,053 10,528 16,603 aletro Waste Control Commission 811,271 811,271 690,722 City of Brooklyn Park 22,849 22,849 13,310 843,152 S ?,719 66,324 S 7,411 924,606 S 786,723 S�pplies and Materials 4,743 2,478 S 5.257. S-0- 12,478 11,069 Heat, Lighi and Power: Electricity 14,485 19.495 S 12,930 Gas 455 455 449 i 14,940 S-0- S _-0- S 19,940 S 12,859 00 Depreciation S 39,683 S 50,42? S-0 S-0- S 90,110 E 77.445 Other S-0- _-0- S-0- S-0- S-0- S-0- Totals S 861,889 S 63,888 S 125,370 S 7.411 1,158,55$ S 992,944 (See notee to finar►cial statements) j City of Brooklyn Center, Minnesota AGEN.CY FUND t The Agency Fund was established to. accoun# 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 Fun.d included in this section is. Fire Department Relief Associafion Agency Fund: This furid was established to account for the collectian of prop�rty taxes by the City for the Brooklyn Center Voluriteer Fire llepartment Relief Associafion to be used for fire- fighters' pensions. City of Brooklyn Center G-1 Fire Department Kelief Association Agency F.und STATEMENT OF CHANGES IN ASSETS AND L,IABILITIES For Year Ended December 31, 1982 Balance Balance December 31, December 31, 1982 Additions Deductions. 1983 Assets Investments 6, 932 2, 831 9, ?63 Taxes receivable 1, 041 359 1, 400 Total Assets 7, 973 3,190 $-0- 11,163 Liabilitie s Principal's balance 7, 973 3,190 $-0- ll, i63 Total Liabilities 7, 973 3,190 $-0-_ 11,163 (See notes to financial statements) r 85- Cit of Brookl n en r y y C te Mmnesota GENERAL FIXED ASSET ACCOUNT GROUP The General Fixed Assef 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. City of Brooklyn Center H-1 SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS AND SOURCES For Year Ended December 31, 1983 Balance B alance January 1, January 1, 1983 Aquisitions Disposals 1983 Investments in General Fixed Assets (At cost) Land and �mprovements 996, 487 36, 040 1, 032, 527 Buildings and improvements 3, 750, 381 708, 743 4, 459,124 Park properties (includes buildings) 2, 782, 228 ??6 2, 783, 004 Furniture 382,929 2,854 385,783 Departmental equipment 2, 424, 035 164, 315 2, 588, 350 1 Storm sewers and street projects 12, 523,132 28, U59 12, 551,191 Total Investments in General Fixed Assets $22,859,192 940,787 0 $23,799,979 Sources of Investments General indebtedness 600,491 600,491 General Fund revenues (includes ad valorem taxes) 3,554,875 331,485 3,885,360 Liquor bonds 304,571 304, 571 Contributions 327, 398 327, 398 Special assessments 12, 341, 668 28, 059 12, 369, 727 Capital projects funds: G.O bonds 3,129, 798 3,129, 798 Tax ��levies 265, 243 265, 243 Sale of assets 156,654 156,6b4 Debt Service Funds excess 198, 386 198, 386 General Fund transfers 253, 000 253, 000 Interest earned 334,357 581,243 915,600 Federal grants 1,071,142 1,071,142 State grants 32I,609 321,609 Total Sources of Investments $22,859,192 940,787 $-0- $23,799,979 (See notes to financial statements) 86- City of Brooklyn Center H-2 SCHEDULE OF GENERAL FIXED ASSETS BY FUNCTION AND ACTIVITY December 31, 1983 Streets end Storm Function Total Land Buildin�s Equipment Sewers General government $16,557,851 1,032,527 2,974,133 $12,551,191 General government buildings 4, 459,124 4, 459,124 Parks (includes buildings) 2, 783, 004 2, 783, 004 Totals $23, 799, 979 3, 815, 531 4 459 124 2 974 133 12 551 191 (See notes to financial statements) -87- City of Brooklyn Center H-3 SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS BY FUNCTION AND ACTIVITY Year Ended December 31, 1983 Balance Balance January 1, IJ�cember 31, 1983 Acquisitions Disposals 1983 General government $16,326,583 231,268 $16,557,851 General government buildings 3, 750, 381 708, 743 4, 459,124 Parks (including buildings) 2, 782, 228 776 2, 783, 004 Totals $22,859,192 $__-0_- $23,799,979 (See notes to financial statements) 88- City of Brooklyn Center, Minnesota GENERAL LONG-TERM DEBT ACCOUNT GROUP The General Lon -Term Debt Account Grou was established to account g P for the City's unmatured general obligatian long-term debt that is secured by the full faitYi and credit of the City and is not the primary obligation of a Special Assessment Furid or an Enterprise Fund of the City I i City of Brooklyn Center I COMPARATIVE SCHEDULE OF GENERAL LONC-TERM DEBT December 31, 1983 With Comparative Totals for December 31, 1982 December 31, 1983 1982 Amounts Available and to be Provided Amounts available in Debt Service Funds 878, 343 410, 270 Amounts to be provided From future tax levies 2,792,865 2 From future gas tax allocations 480, 000 540, 000 Total Available and to be Provided 4,151, 208 3, 423, 902 General Long-Term Debt Payable General Obligation Bonds 3, 250, 000 2, 500, 000 State Aid Street Bonds 480, 000 540, 000 Assessments on City property 161, 685 193, 306 Sick and vacation accruals 259, 523 190, 596 Total General Long-Term Debt 4,151, 208 3, 423, 902 (See notes to financial statements) -89- t 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 usefui and of interest to investors in City bonds, financial institutions, and others interested in municipal government financial statistics. C� o[ Brooklyn Center TABLE 1 GfiNERAL GOVERNh1ENTAL EXPENDITCiRE BY FUNCTION Last Ten Fiscal Years Public Community Fiscal General Safety and Public Health Parks and Debt Pension Year Government Welfare Works Services Recreation Service Expense 1974 546,649 s 700,938 522,297 26,555 484,811 3A9,397 S 227,727 1975 828,341 761,670 599,314 93,269 543,271 383,708 202,704 1976 ?22,116 849,672 692,595 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 1,151,980 733,615 66,423 ?95,116 380,180 (1} 1979 688,539 1,521,159 892,470 98,576 860,283 356,905 (1) 1980 839,907 1,442,619 1,103,166 37,336 917,224 332,139 (1) 1981 910,131 1,588.149 1,176,497 39,385 1,162,878 412,154 (lj O 1982 1,007,781 1,901,839 1,213,941 36,249 1,122,299 419,497 (1) 1983 1,054,064 1,875,122 1.288,081 28,663 1,268,907 450,620 (1) (1) Pension ia ellocated to other functtonal expenditures shown on this echedule City of Brooklyn Center TABLE 2. REVENUE OTHER THAN SPECIAL ASSESSMENTS Lsst Ten Fiscal Years General, Specisl Revenue, Debt Service and Capital Projecta Funds l.narqes Net Income Before General For Current Licenses Transfers Out Fiscal Property Shared Services and end Fines and Public Liquor Year Taxes Taxes pther Revenue Permits Foreiturea Utilities Stores 1974 51,542,561 S 958,058 S 462,575 88,92Z S 38.649 S�35,931 S 134,995 1975 1,745,667 1,024,571 932,083 301,380 92,940 381,458 150,902 1976 1,725,854 1,432,T45 486,371 302,399 98,475 103,848 147,143 1977 1,880,700 1,517,843 472,410 131,107 54,420 287,560 121,536 1978 1,883,745 1,fi0�1,452 494,?72 179,062 68,281 351,732 134,841 1979 2,272,323 1,887,093 714,894 166,464 82,466 596,930 161,994 1980 2,416,973 2,731,611 1,127,085 195,931 111,382 937,798 142,956 1981 2,034,252 3,729,683 1,579,396 20?,100 111,596 877,668 155,519 i 1982 2,303,409 5,114,290 1,684,481 249,015 196,204 677,762 102,172 cD 1983 2,419,816 3,563,608 2,096,98? 328,019 159,812 97T.690 104,754 C;ty of Brooklyn Center TABLE 3 TAX LEVIES AND TAX COLLECTIONS Last Ten f'iscai Years Rat{o of Collections Percentage Coilections Accumulated of Current Levy of Prior Rntio of Delfnquent Year's Taxea Collected Year's Taxea Total Accumulated Taxes to l i Ye�' During Fiscal During Fiecal During Fiscal Total Collections of Delinquent Cnrrent Year Collected Tax LeW Period Period Period Collections Tax Levy Taxes Tax LevY 1974 51,518,273 51,442,873 95.03 34,450 :1,477,323 .9730:1 .05885:1 S 89.357 1975 1,728,986 1,678,567 97.08 61.791 1,T40,358 1.0066:1 149,691 .08366:1 1976 1,715,170 1,521,690 88.92 56,229 1,577,919 .9200:1 281,903 .16436:1 I 1977 1,880,700 1,694,382 90.09 198,250 1,892,632 1.0063:1 269,971 .14355:1 1978 2,060,012 1,995,621 96.87 165,701 2,159,322 1.0982:1 170,662 .08285:1 N 19T9 2.316,550 2,277,597 98.32 58,083 2,335,680 1.0083:1 196,092 .06304:1 1980 2,350,739 2,306,803 98.13 62,371 2,369,174 1.0078:1 135,953 .05183:I 1981 2,746,020 2,619,758 95.40 27.183 2,646,991 .9639:1 235,032 .08559:1 1982 2,965,702 2,854,688 96.26 45,419 2,900,10? .9779:1 300,627 .10137:1 1983 2,982,369 2,980.772 97.52 75.45? 2.498.209 1.0056:1 286,787 .11553:1 I City of Brookiyn Center TABLH 4 ASSESSED VALUE AND MARKET VALUE OF ALL TAXABLE PROPEATY Last Ten Fiscal Years 1975 1976 1977 1978 1979 1980 1981 1982 1983 1989 P�ulation �nctua►) �D34" �d8� 3S;II� �4; fi� �s, �oo 3'i, asu ��7� '�36 su, s�n so, eao Real P�erty Assessed value: City: Homestead 55,031,876 62,359,181 69.130,468 67,641,018 S 72,075,015 S 70,506,973 S 82,133,535 74,268,430 S 75,252,072 S 78,112,774 Excess and non-homestead 42,501,704 47,138,912 50.356.911 53,976,290 54,893,227 63,605,303 80,626,961 104,715,944 122,369,08T 128,45A,579 Area-wide allocation (net) 960,981 133,422 (201,206) (1,190,063) (1,469,192) (1,832,196) (1,680,827) L2.357,630) (1,437,243) t3,366,45G) Less: Tnx Increment District (78,OU0) Total Assessed Value 99,699,555 5109,626.015 5119,286,173 =120,927,225 ;125,509,050 5132,280,080 5161,079,669 5176.626,794 5196.183,916 5203,122.897 Estimated Market Value: =270,699.261 5301,639,725 5329,963,243 5381,926,955 5396,811,532 5451,519,456 5604,637.366 5657,701,757 5725,976,089 5775.IG2.400 W Personal Property Assessed vffiue S 2,852,992 ;'2,800,885 S 3,034,703 S 3.537,911 S 4,389,397 3,81fi,766 9,027.036 =�,113,767 S 3,973,587 S 4.148.726 Estimated market value 6,634,865 6.505.874 S 7,059,986 8.227,T00 S 10,207,900 S 8.876,200 S 9,365,200 S 9,566,900 S 9,240,000 9,648,200 Ratio of Assessed Value to Eslimated Alarket Value .38563:1 .36485:1 .36348:1 .317733:1 .319133:1 .29561:1 .Y6890:1 .R7086:1 .27243:1 .26204:1 Per Capita Valuations Assessed Value 2,7Y9.00 s 5.031.93 5,386.89 5.634.28 j 3,954.l0 S 4,130.41 5,286.80 5,832.22 S 6.494.40 S 6,588.48 Estimated dtarket Value T,504.85 s 8.310.07 9.317.8f 11,438.15 S 12.077.73 13.972.55 18.660.66 41.531.74 23.838.87 25,143.12 I Cit�+ of Brooklyn Center TABLE 5 TAX RATES AND TAX LEVIES (Continued next page) Last Ten Fiscat Years Area School District CoUnty a Total City, School, County and State N.H.S. Year Voc-TeCh ��6 i�7�J t}'�$�Y i� Special Dist. i1286 Dist. p279 Dist. p'l81 Dist. pl l Collectible Cily (1) School (Earl Brown) {Osseo) (Robbinsdale) (Anoka) Districts (Earl Brown} (Osseo) (Robbinsdale) (Anoka) 1975 17.988 3.372 61.074 57.654 �50.787 60.190 33.142 115,576 112.156 105.289 111.320 1976 15.807 Y.759 54.204 53.435 99.043 55.270 31.275 303.845 103.076 98.684 l02.152 1977 15.725 2.485 52.663 53.698 99.875 58.400 39.063 109.936 105.921 102.148 108.188 1978 16.646 2.123 53.537 52.439 49.690 55.840 35.086 107.901 106.298 103.554 107.572 1979 17.880 R.227 47.951 45.073 46.645 47.706 35.950 103.008 100.630 102.202 101.036 1980 17.245 1.681 42.981 39.395 41.473 43.212 39.580 96.987 92.851 94.979 95.037 1981 16.fiO3 1.510 33.512 33.427 40.757 37.996 33.373 84.998 84.913 92.293 67.97T �p 1982 16.387 b.469 38.781 42.993 50.524 46.847 33.567 91.214 94.436 102.207 96.811 �P 1983 15.971 2.219 92.896 46.035 52.901 95.474 33.557 93.543 96.682 103.548 95.002 1984 17.096 1.l46 49.965 54.909 58.326 55.225 35.007 103.514 108.458 111.875 107.328 C;ty of Brooklyn Center TABLE 5 TAX RATES AND TAX LEVIES (Continued from prior page) r Last Ten Fiscel Years Tax Levies on Prooertv Within Brooklvn Center Area School District County i Total City Year Voc-Tech �Zg6 N279 k281 M11 Tota1 Special Schools Collectible School (Eari Brown) (Osseo) �tobbinsdale) ;4^oY.a) School Districts City Countv 3 State 1975 296,212 1,652,564 1,742,105 S 1,552,542 7�9,898 5,998,322 S 3,370,680 S 1,805,759 =11,179,756 1976 270,928 1,681,797 1,804,010 1,629,635 789,077 6,179,947 3,511,979 1,752,564 11,939,490 1977 265,953 1,786,278 1,839,979 1,800,122 910,879 6,598,002 4,156,788 1,849,989 12,604,779 1978 231,46B 1,853,423 1,865,301 1,841,345 889,060 6,680,617 9,395,690 2,060,012 13,086,319 1979 252,099 1,763,957 1,711,961 1,805,864 794,944 6,328,345 9,603,009 2,316,684 13,298,038 1980 203,243 1,737,432 1.568,991 1,650,314 1,522,661 6,712,141 4,711,671 2,350,962 13,774,774 1981 237,60? 1,839,916 1,636,337 2,058�145 966,972 6,630,577 5,925,084 2,947,717 15,512,378 1952 2G5,508 2,422,618 2,061,005 2,606,004 881,745 8,23fi,880 6,066,917 2,963,602 17,267,399 1983 202,256 2,790,808 2,625,207 2.781,573 1,099,119 9,538,963 6,716,839 3,203.274 19,459,076 1989 287,933 3,328,173 3.090,799 3,178,504 1.279,696 11,165,055 ?.085,080 3,452,694 21,702,829 (1) Includes tax levy for the Honsing und Redevelopment Authority of Brooklyn Center of 1/3 mill. I C;ty of Brooklyn Center TABLB 6 SPECIAL ASSESSh1ENT COLLECTIONS Last Ten Fiscal Years Current Special Total Assessments pmount Ratio of Current and Installmenta. Collected Current Delinquent Becoming Due Currently Collectiona Assessments Current Fiscal During the During the to Amount Uncollected Percentage Balance Period Fiscal Period Fiscal Period Due At Yenr End Collected Uncollected 1974 742,130 S 634,434 .8549:1 202,970 85.49 S -0- 1975 679,068 567,338 .8355:1 314,700 83.55 -0- 1976 936,438 944,699 .6039:1 606,439 60.39 -0- 1977 663,514 906,029 .6119:1 633,094 61.19 -0- 1978 607,096 907,224 .6708:1 668,578 67.08 609 1979 585,105 461,550 .7888:1 361,906 78.88 2,599 1980 655,175 572,109 .8732:1 189,808 8T.32 16,728 i 1981 395.�39 335,859 .8493:1 152,059 84.93 37,527 1982 733.198 649,472 .8858:1 83.726 88.58 83,726 1983 981,733 908,531 .9254:1 156,928 92.54 I56,928 C� 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 Fiscal Estimated Assessed Gross in Debt Net to Assessed Debt Per Period Population Value Bonded Debt Service Funds Bonded Debt Values Capita 1974 36,954 96,662,138 �8.40T.000 =1,874,002 t6,532,998 .0675:1 =176.79 1975 37,081 100,386,566 7,605,000 2,115,984 5,989,016 ,0547:1 184.02 19T6 3B,116 112,293.478 7,770,000 2,118,250 5,581,750 .0997:1 154.55 1977 34,110 122,320,8?6 7,015,000 2,193,710 4,821,290 .0394:1 141.35 19?8 33,700 123,965,136 6,215,000 2,852.259 3,562,741 .02873:1 105.72 1979 32,950 129,893,947 5,975,000 3,138,981 2,336.519 .01799:1 T0.91 c� 1980 31,230 136,096,896 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 ?.680,000 4,1l5.073 3,539,92� .02956:1 114.70 1983 30,830 200,157.505 7,985,000 5,156.164 2,828,836 .01913:1 91.76 City of Brooklyn Center TABLE 8 STATEMENT OF LEGAL DEBT MARGIN December 31, 1983 Assessed value, January 1, 1983 $203,122, 897 Debt limit 6. 67 0 of assessed value (See Note A) 13, 548, 297 Total bonded debt $7, 985, 000 Deductions (See Note 1B A. Bonds 1. Special Assessment Bonds $3, 855, 000 2. State Aid Street Bonds 480, 000 3. Utility Revenue Bonds 400, 000 4. Tax Increment Bonds 930, 000 $5,665,000 B General Debt Service Fund 640,099 $6,305,099 licable to Debt Limit 1, 679, 901 Total De bt App I Legal Debt Margin, December 31, 1983 11, 868, 396 Note: (A) M.S.A. Section 475.53 (See following page) Note: (B) M.S.A. Section 475.51 (See following page) i -98_ City o� B�ao�lyn Center TABLE 8 STATEMENT OF LEGAL DEBT MARGIN December 31, 1983 Note (A) M. S. A. Section 475. 53 et seq Limit on Net Debt "Subdivision 1. Generally, except as otherwise provided in sections 475.51, 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 6.67 per cent of the assessed value,rr !�I Note (B M. S. A. Section 475. 51 Definitions "Subdivision 4. 'Net Debt' means the amount remaining after deduc- ting from its gross debt the amount of current revenues which, are applicable within the aggregate of the principal 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 all 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 computing the net debt of the municipality 99- C� of Brooklyn Center TABLB 9 COMPUTATION OF DIRECT AND OVERT.APPING DEBT December 3l, 1983 City of Brooklyn Center Share Governmental Unit Groee Debt SinkinR Funda Net Debt Per Cent Amount Direct end OverlaPPing Debt Direct DeUt: City ot Brooklyn Center (1) S 7.985.000 5,156,164 S 2.828,B36 100.00R S 2,828.836 Overlapping Debt: School Districts: No. 281 (Robbinsdale) s 15,695,000 s 2.859,380 S 12,835,620 10.20$ 1,309,233 No. 11 (Anoka) 27,165,000 1,542,683 25,622,317 5.96 1,511,717 No. 279 (O sseo) 21,205,000 2,220,490 18,984,510 26.80 5,087,899 I N o. 286 (Brooklyn Center) 585,000 31,899 553,151 100.00 553,151 Area Voc. Tech School: ho• 28� 11,100,000 3,665,055 7,434,945 9.90 364,312 Metro transit 16,200,000 3,643,000 14,557,000 1.50 218,355 i Metro council (2) 31,990,000 22,716,607 9,223,393 1.50 138,351 r 6letro airport (3) 0 Hennepin County 47,925,000 8,921,929 39,503,571 2.70 1,066,596 Hennepin County Park Reserve District 1,750,OQ0 1,021,246 .728,754 2.70 19.676 Total Overlapp;ng Debt S175,565,000 96,121,739 5129,443,261 S 10,269,240 Total Direct 1� Overlapping Debt 5183,550,000 51,297,903 5132,272,097 S 13,098,076 (1) Includes 53,855,000 debt outstanding to be paid from special assessments. ;480,000 debt outstandin g on State Aid Street bonds, E400,000 debt outstanding on revenue bonds, and ;930,000 debt outstanding on Tax Increment Bonds. (2) Excludes 5175,762,000 (less ;25,750,260 1n sinking funds) of the hfetro Council issued G.O. sewer bonds. These sewer bonds are supported fmm sewer service charges to government units (including Brooklyn Center) within the metm sewer system. (3) Excludes 5125,025,000 (less =21,880,706 in ainking fuada) of G.O. Airport bonds eupported from airport ueer fees and rentals. Direct Overlapping �Com�arative Net Debt Ratios Char� able to Cit�+ Total Debt Debi e�bt to assessed value (��,8�'/) 6.95; 1.39� 5.06$ Debt to market value (;7T5.162,400) 1.69$ .36$ 1.32�C Per capita debt (population 50.830) t424.85 S9L96 :353.09 I 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 7�ta1 Total Debt Service Debt General to General Year Principal Interest Service Expenditures* Expenditures 1974 $180,000 $209,397 $389,397 $2,577,758 15.10 1975 185,000 198,708 383,708 2,839,621 13.51 1976 225,000 186,730 411,730 3,244,183 12.76 1977 215,000 173,130 388,130 3,239,892 11.98 1978 220,000 160,180 380,180 4,146,063 9.17 1979 210,000 146,905 356,905 5,267,380 6.78 1980 195,000 134,211 329,211 7,931,555 4.15 1981 185,000 226,785 411,785 6,457,274 6.37 1982 195,000 224,100 419,100 7,188,860 5.83 1983 240,000 210,620 450,620 7,959,918 5.66 Inclt�des General, Special Revenue, Debt Service and Capital Projects Funds. -101- City of Brooklyn Center TABLE 11 SCHEDULE OF REVENUE BOND COVERAGE Last Ten Fiscal Years Net Ratio of Net Gross (1) Revenue Debt Service Revenue to Year Pevenue Expenses Available Principal Interest Total Debt Service 1974 $1,048,447 471,046 577,401 $30,000 $29,400 $59,400 9.7 to 1 1975 1,107,926 556,573 551,353 30,000 28,275 58,275 9.5 to 1 1976 1,235,274 710,662 524,612 35,000 27,105 62,105 8.4 to 1 197? 1,145,563 761,542 384,021 35,000 25,740 60,740 6.3 to 1 1978 1,371,519 817,154 554,365 35,000 24,375 59,375 9.3 to 1 1 1979 1,572,244 824,417 747,827 35,000 23,010 58,010 12.9 to 1 1980 1,950,340 952,850 997,490 35,000 21,645 56,645 17.6 to 1 1981 2,272,211 1,189,203 1,083,008 40,000 20,280 60,280 17.9 to 1 1982 2,242,053 1,565,291 677,762 40,000 18,720 58,720 11.54 to 1 1983 2,195,913 1,465,713 730,200 �0,000 17,160 57,160 12.77 to 1 (1) Excludes depreciation and interest on bonds. -102- City of Brooklyn Center TABLE 12 PROPERTY VALUE AND CONSTRUCTION Last Ten Fiscal Years Commercial Resid�ntial Construction Construction Number Property Va1ue* Year Value of Units Value Commercial Residential Non-Taxable 1974 5,742,259 20 497,600 57,725,427 $204,701,794 50,386,615 1975 3,915,836 39 1,164,932 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 3,584,198 80 2,179,300 125,012,840 256,914,1i5 50,386,615 1978 5,247,131 239 6,816,300 140,651,752 285,436,50U 50,386,615 1979 8,209,394 76 3,392,700 161,917,915 330,196,500 50,386,615 1980 12,554,300 43 3,061,000 215,536,256 392,096,600 52,828,091 1981 12,926,950 33 1,157,000 228,523,271 483,354,800 52,828,091 1982 2,497,700 70 2,055,000 235,045,689 490,430;400 52,828,091 1983 5,342,000 140 8,677,800 268,460,800 506,701,600 52,828,091 Estimated market value -103- City of Brooklyn Center TABLE 13 PRINCIPAL TAXPAYERS December 31, 1983 Percentage 1983 of total Market Market Taxpayers Type of Business Valuation Value Equitable Life Assurance Soc. of America Brookdale Shop. Ctr. $24, 475, 400 3.20$ Robert H. Bradley Office Warehouse Bldg. 14,177, 400 1., 80$ i Prudential Ins. Co. of America Land Office Bldg. 10, 093,100 1. 30$ Sears ftoebuck Co. Sears Dept. Store 6, 229, 900 80$ Commercial Partners Brookdale Square 5, 939, 900 77$ Twin Lake North Co. Apartments 5, 750, 500 75$ Brooklyn Center Dev. Co. Office Apts. Bldg. 5, 548, 900 .72� Center Dev. Co. Apartments 4, 824, 600 63$ Allied Central Stores Donaldson's Dept. 4, 717, 200 .61$ Store Car Center Dayton Hudson Corp. Dayton's Dept. Store 4, 454, 400 58� $86,211,300 11.16� -104- C� of Braoklyn Centek� TABLS 14 SUMMARY OF DEBT SERVICE REQUIRE1fENTS TO MATURITY December 31, 1983 G.O. Special G.O. State-Aid General Obligation Bonds Assessment Bonds Street Bonds Water Revenue Bonds Debt Service Rec�virement Year Yrincipa� Interest rr�nci� lnterest rrmcipai tnteres[ rrinci� lnterest �nnc�pal tnterest 1984 S 195.000 S 219,625 s 650,000 275,279 60,000 S 29,940 40.000 s 15,600 945,000 540,444 1985 195,000 229,595 440,000 238,575 60,000 26,070 45,000 13,991 790,000 503,231 ?986 215,000 210,458 325,000 230,935 60,000 22,190 45,000 12,285 645,000 455,SI8 1987 275,000 193,339 315,000 189,795 60,000 18,165 95,000 30,530 695,000 411,829 1988 300,000 173,983 300,000 168,620 60,000 14,160 45,000 8,775 705,000 365,038 1989 325,000 151,833 260,000 197,980 60,000 10,125 45,000 7,020 71Q,000 316,958 1990 195,000 128,788 260,000 126,980 60,000 6,075 95,000 5,265 560,000 267,308 1991 355,000 108,445 260,000 107,070 60.000 2,025 45,000 3,510 720,000 221,050 O 1992 400,000 79,998 200,000 88,150 45,000 1,755 ¢95,000 169,903 1993 410,000 98,968 175,000 71,38? 585,000 120,355 1999 100,000 28,988 175,000 55,200 275,000 84,188 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 53,250,000 51,602,677 53,855,000 51,74T,959 4B0,000 S 128,700 400,000 S 78.731 57,985.000 =3.558,067 1 City of Brookl n Center Y TABLE 15 SCHEDULE OF INSURANCE COVERAGE December 31, 1983 Type of Coverage and Details Policy Period Liability Limits From To I. Statutory Liability to Employees a. Workers' Compensation 1-1-84 1-1-85 Statutory (participant in the League of Minnesota Cities Insurance Trust Self-Insured Workers' Compensation Pro gram II. Liability to the Public a. Gene�al liability, comprehensive �.-1-84 1-1-87 (1) Bodily injury 500, 000 combined single limit (2) Property damage 500,000 combined single limit j 3) Personal injury 500, 000 combined single limit b. Automobile liability, comprehensive 1-1-84 1-1- 85 (1) Bodily injury 500, 000 occurrence (2) Property damage 500,000 occurrence (3) Uninsured motorist 500,000 occurrence c. Liquor stores' dram shop 1-1- 84 1-1- 85 500, 000 aggregate per location d. Umbrella liability 5-19- 84 5-19- 85 5, 000, 000 aggregate, $10, 000 retained limit III. Loss of Income on City Enterprises a. Liquor stores 1-1- 84 1-1- 87 50, 000 per location b. Public utilities 1-1-84 1-1-87 300,000 -106- Cit of Brookl n en r y y C te TABLE 15 SCHEDULE OF INSURANCE COVERAGE December 31, 1983 Buildings Content: Structures (Actual (Replacement Cash Type of Coverage and Details Policy Period Cost) Value) From To IV Insurance o:1 City Property 1-1- 84 1-1- 87 a. Public and institutional property, all risk, blanket $12, 243, 200; $100 deductible 90°s co-insurance stated values (1) Civic center $4,087,000 400,000 2) East fire station 439, 000 50, 000 3) Municipal service garage 996, 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 254, 200 (11) Liquor store and fire station 415, 000 182, 000 (12) Leased liquor stores 2 locations 314, 000 (13) Movable properties 154, 974 (14) Pedestrian bridge 374, 000 (15) Picnic shelter 42, 000 (16) Maintenance building 36, 000 64, 000 Liability Limit b. Boiler and machinery 2-1-84 1-1-85 $3,000,000 per accident c. Automotive physical damage 1-1- 84 1-1- 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 c. 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 -107- City of Brooklyn Center TABLE 16 SCHEDULE OF CASH AND TEMPORARY CASH INVESTMENTS December 31, 1983 Cash in Banks: First Brookdale State Bank 203, 308 Brooklyn Center, Minnesota First National Bank of Minneapolis, 2, 817 Minneapolis, Minnesota Temporary Investments: Interest Type Rate Maturity Cost Certificates of deposit 9.15 lU. 00 0 1984 $1, 630, 000 Repurchase Agreements 9.13$ 1984 1, 000, 000 Commercial Paper 9. 92$ 1984 739, 997 Bankers' Acceptance 9. 67 0 19$4 955, 022 U. S. Treasury Bill 10.19 10. 26$ 1984 3, 548, 262 U. S. Treasury notes 4. 25 10. 00$ 1984-1992 4, 298, 758 Federal Land Bank bonds 7. 36 8. 10$ 1985-1987 1,193,125 1 Federal Home Loan Bank bonds 7. 65 16. 23$ 1984-1987 1, 491, 406 Federal Home Loan discount notes 8.10 12.25$ 1985-1987 590,000 Federal National Mortgage Association bonds 6. 90 15. 05$ 1984-1992 3, 801, 619 Federal Farm Credit Bank bonds 10.10 14. 89$ 1984-1988 624, 344 $19, 872, 533 Interfund borrowings -(temporary improvement notes) 170, 056 Accrued interest on investments 318, 794 Change Funds 4, 535 Total Cash and Temporary Cash Investments $20, 572, 043 1 1 1 -�08- City of Brooklyn Center MISCELLANEOUS STATISTICAL FACTS Date of Incorporation February 14, 1911 Date of Adoption of City Charter November 8, 1966 Effective December 8, 1966 Form of Government Council-Manager Fiscal Years Begins January 1 Area of City 8 1/2 square miles Miles of streets: City 103. 8 County 13. 2 3.2 Miles of Storm Sewers 38.5 Number of Street Lights 927 Building Permits: Number of Permits Issued: 1983 660 1982 516 1981 518 1980 563 1979 606 1978 818 1977 566 1976 568 1975 645 1974 423 Estimated Cost: 1983 $16,096,550 1982 5,96$,824 1981 16,190,205 1980 17,454,690 1979 13,08I,520 1978 13,081,520 1977 13,578,901 1976 6,228,08? 1975 3,786,838 1974 5,972,910 6,968,172 -109- City of Brooklyn Center MISCELLANEOUS STATISTICAL FACTS December 31, 1983 Fire Protection Number of Stations 2 Number of Volunteer Firemen 34 Police Protection Number of Stations 1 Number of Employees 41 Vehicle Patrol Units 15 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 16 Part-time employees 200 (seasonal) Playgrounds 1? Park shelters 17 Ice skating .rinks 8 Hockey rinks fi Softball diamonds 26 Baseball diamonds 5 Tennis courts 12 Basketball courts 17 1 1 1 1 -110- i City of Brooklyn Center MISCELLANEOUS STATISTICAL FACTS December 31, 1983 Education Public Schools: School districts within Brooklyn Center 4) No. 11 No. 286 No. 281 No. 279 (Anoka) (Eaz°le Brown) (Robbinsdale) (Osseo) Total school buildings 34 2 21 18 School buildings within Brooklyn Center 1 2 1 3 Total students registered 31, 300 1, 311 14, 977 16, 453 Students from Brooklyn Center registered 1, 300 1, 311 622 2,1�4 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 1983 assessed valuation $751,747,533 83,143,814 $786,008,523 $536,873,419 1983 assessed valuation t in Brooklyn Center 20, 745,115 70, 687, 933 58,198, 812 52, 472, O11 Parochial schools (1) St. Alphonsus School grade 4- 8- Total S#udents registered 355 Assessed valuation prior to fiscal disparities and tax increment caleulations Municipal Water Plant: Number of connections 8, 470 Average daily consumption 3, 491, 498 gallons Peak daily consumption 12, 044, OOQ gallons Plant capacity daily 15, 264, 000 gallons Miles of water mains 109.93 miles Number of fire hydrants 782 Number of wells 7 Number of elevated reservoirs 3 Storage capacity 3, 000, 000 gallons Water rate per thousand 35 cents -111- 1 City of Brooklyn Center MISCELLANEOUS STATISTICAL FACTS December 31, 1983 Municipal Sewer Plant Number of connections 8, 480 Miles of sanitary sewer 99.6 Daily disposal capacity 7, 416, 000 gallons Number of lift stations 9 Residential rate 21.25 Municipal Liquor Stores (Off Sale) Number of owned stores 1 Number of leased stores 2 1983 sales $2,419,009 City Employees: As of December 31, 1983 Permanent or regular 125 Temporary or part-time 175 Total 300 Elections: Registered voters City election 1983 18, 918 Number of votes cast in city election 586 Percentage of registered voters voting 3$ ftegistered voters last state election 1982 20, 974 Number of votes cast last state election 1982 14, 051 Percentage of registered voters voting 1982 67 0 Population 1940 1,870 1950 4,284 1960 24,356 1965 (special census) 30,108 1980 31,230 1981 (per official estimates) 30, 990 1982 (per official estimates) 30, 820 1983 (per official estimates 30, 830 -112-