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HomeMy WebLinkAboutAnnual Audited Financial Report-1981 ANNUAL AUDITED FINANCIAL REPORT of the t CITY MANAGER of BROOKLYN CENTER, MINNESOI'A For The Year Ended December 3 1, 1981 GERALD G. SPLINTER, CITY MANAGER Prepared k�y THE DEPARTMENT OF FINANCE Paul W. Holmlund, Director (1011ember of Municipal Finance Officers I Association of the United States and Canada) City of Broaklyn Center COMPREHENSIVE ANNUAL FINANCLAL REPORT FOR THE Y`EAR ENDED DEC�IV�BER 31, 1981 Exhibit Schedule Page Number Number Introductory Section T itle Pa ge Table of Contents Listing of City Officials 1& 2 Organization Chart 3 Location Map of City Properties 4 C ity Manager's Letter 5& 6 Fin�,ance Director's Letter 7- 15 Certificate of Conformance in Financial Reporting X6 Financial Section Auditor's Opinion 17 Combined Statements Overview: Combined Balance Shee� All Fund Types and A ccount Groups l. 18 19 Combined Statement of Revenues, Expenditures and Changes in Fund Balance All Governmental Fund Types 2 20 Combined Statements of Revenues, Expenditures and Changes in Fund Balance A ctual (GAA P Basis), Budgetary Basis and Budget General Fund 3 21 Combined Statement of Revenues, Expenditures and Changes in Fund Balances Budget and A ctual Special Revenue Funds 4 22 Combined Statem�nt of Revenues, Expense� and Changes in Retained Earnings/Fund Balances A 11 Proprietary Fund Types and Nonexpendable Trust 5 23 Combined Statement of Changes in Financial Position A11 Proprietary Fund Types 24 Notes to Financial Statements 25 45 City of Brooklyn Center COMPREHENSIVE ANNUAL FINANCIAL REPOR'T FOR THE YEAR ENDED DECEMBER 31, 1981 E xhibit Schedule Page Number Number Financial Statements of Individual Funds: General Fund: Comparative Balance Sheet' 7 46 Statement of Revenues, Expenditures and Changes in Fund Balance Actual (GAAP Basis) and Comparison of Bud- getary Bas is to Budget (Non-GAA P) 8 47 Statement of Revenues Compared to Budget 9 48 50 Statement of Budgetary Basis Expenditures and Budget 10 51 52 Special Revenue Funds: Combinin Balance Sheet 11 53 g Combining Statement of Revenues, Expendi- tures and Changes in Fund Balances 12 54 Debt Se rvice Funds Combining Balance Sheet 13 55 ombinin Statement of Revenues, Ex endi- C g P tures and Changes in Fund,Balances 14 56 nds• Capttal Pro�ects Fu Combining Balance Sheet 15 57 Combining Statement of Revenues, Expendi- tures and Changes in Fund Balances 16 58 City of Brooklyn Center COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED DECEMBER 31, 1981 E xh ib it Schedule Page Number Number Financial Statement of Individual Funds (cont'd): Capital Projects Funds: (cont'd) Supporting Schedules; Project-Length Schedule of Construction Projects Capital Projects Fund S-1 59 Project-Length Schedule of Construction Projects Municipal State Aid Con- struction Fund S-2 60 Special Assessment Funds: Combini.ng Balance Sheet 17 61 62 Combinin Statement of Revenues Ex endi- p tures and Changes in Fund Balances 18 63 Supporting Schedules: Project-Length Schedule of Construction Projects All Special Assessm.ents Funds S-3 64 Construction Fund Revenue and Expendi- tures S-4 65 65. 1 Enterprise Funds: Combining Balance Sheet 19 66 6? Combining Statement of Operations and Retained Earnings 20 68 Combining Statemen� of Changes in Financial Position 21 69 Statement of Operations and Retained Earnings 1 Municipal Liquor Fund 22 70 City of Brooklyn Center COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED DECEMBER 31, 1981 Exhibit/ c he dule Pa ge Number 1'�Tumber Financial Statement of Individual Funds con� d). Enterprise Funds: (cont'd) Statement of Operating Expenses Municipal Liquor �'und 23 71 Balance Shee� P�blic Utilj.ties Fund 24 72 73 Statement of Operations and Retai.ned Earni�,gs Public Utilities Fund 25 74 Statement of Water Operating Expenses 26 75 Statement of Sewer Operating Expenses 27 78 Fiduciary Funds: Supporting Schedules: Combined Statement of Changes in Assets and Liabilities All Agency Funds S-g 77 Statement of Changes in Assets and Liabilities Housing and Redevelop- ment Agency Fund S-6 78 Statement of Changes in Assets and Liabilities Fire Department Relief S -7 79 Association Fund Stat�ment of General Fixed As�.ets by Sources 28 8p Supporting Schedules: Schedule of Fixed Assets b Function and y A ctivity S-8 81 Schedule of Chan es in �ixed Assets by g Func�ion andActivity S-9 82 om �rative Statement of General Lon -Term C p Debt 29 83 City of Brooklyn Center COMPREHENSNE ANNUAL FINANCLAL REPORT FOR THE YEAR ENDED DECEMBER 31, 1981 Exhibit/ Schedule Page Number Number Statistical Section General Governmental Expenditures by Function Table 1 84 Revenue Other Than Special Assessments Table 2 85 Tax Levies and Tax Collections Table 3 86 A ssessed Value and Market Value of All Taxable Property Table 4 87 Tax Rates and Tax Levies Table 5 88 Special Assessment Collections Table 6 89 Ratio of Net Bonded Debt to Assessed Value and Net Bonded Debt Per Capita Table 7 90 Statement of LegaZ Debt Margin Table 8 91 92 Computation of Direct and Overlapping Debt Table 9 93 Ratio of Annual Debt Service Expenditures for General Bonded Debt to Total General Expenditures Table 10 94 Schedule of Revenue Bond Coverage Table 11 95 Pro ert Value and Construction Table 12 96 P Y Principal Taxpayers Table 13 97 Summary of Debt Service Requirement to Maturity Table 14 98 Schedule of Insurance Coverage Table 15 99 Schedule of Cash and Temporary Investments Table 16 100 Miscellaneous Statistical Facts 101 104 1 City of Brooklyn Center LISTING OF CITY OFFICIALS For the Year Ended December 31, 1981 ELECTED OFFICIALS Term of Office Term Expires Mayor Dean Nyquist Two Years 12-31-81 Councilman Bill Fignar Three Years 12-31-81 Councilman Tony Keufler Three Years 12-31-81 Councilman Gene Lhotka Three Years '12-31-82 Councilwoman Cecilia Scott Three Years 12-31-83 OFFICIALS NOT ELECTED C ity Manager Gerald G. Splinter C ity Clerk Gerald G. Splinter C ity 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 1 Police James Lindsay Fire Ronald Boman Planning and Inspection Ronald Warren Park and Recreation Eugene Hagel A ssessment Peter Koole Liquor Stores Truman Nelson Assistant City Engineer James Grube Street and Park Superintendent Henry Davis Public Utilities Superintendent Craig Hoffmann Recreation Superintendent Arnold Mavis Health Officer Duane Orn, M. D. Fire Marshall Gerald Pedlar Sanitarian Thomas Heenan C ivil Defense Coordinator James Lindsay -1- City of Brooklyn Center LISTING OF CITY OFFICIALS At May 31, 19$2 ELECTED OFFICIALS Term of Office Term Expires Mayor Dean Nyquist Two Years 12-31-83 Councilman Rich Theis Three Years 12-31-84 Councilman Bi11 Hawes Three Years 12-31�84 Councilman Gene Lhotka Three Years 12-31-82 Councilwoman Cecilia Scott Three Years 12-31-83 OFFICIALS NOT ELECTED C ity Manager Gerald G. Splinter C ity Clerk Gerald G. Splinter C ity Treasurer Paul W. Holmlund City Attorney Richard Schieffer Dep�artment Heads; Finance Paul W. Holmlund Public V�Torks 5y Kna.pp Police James Lindsay F ire R onald Boman Planning and Inspection Ronald Warren Parks and Recreation Eugene Hagel A ssessment Peter Koole Liquor Stores Truman Nelson Deputy City Clerk/Personnel Coordinator Thomas Bublitz Housing/Purchasing Coordinator Brad Hoffman Assistant City Engineer Jame� Grube Street and Park Superintendent Henry Davis Public Utilities Superintendent Craig Hoffmann Recreation Superintendent A rnold Mavis Health Officer Duane Orn, M. D. Fire Marshall Gerald Pedlar Sanitarian Thomas Heenan Civil Defense Coordinator James Lindsay -2- ORGANI ZATION CH11RT COUNCIL MANAGER PLAN Ci�y of Brooklyn CentEr, Minnesota ADVISOftY ELECTORATE CHARTER COMMISSION Capital Impr�vement Review Ad. ADVISORY Youth Ad��isory Commission AUVISORY CITY COUNCIL Eiflusing Commission ADVISORY CITY ATTORNEY Conservation Commission ADVISORY City Manager Administrative Assistant Hurnan Rights Commi ssion City Clerk Purchasing Officer ADVI SORY Pa rks and Recreation Commission ADVISORY Administrative Assistants r Planning Commission I Civil Defense i I I� 1 1 I 1 i DIRECTOR DIRECTOR CHIEF DIRECTOR DIRECTOR CHIEF MANAGER DIRECTOR ASSESSOR Planning Finance Police of Parks and Volunteer Liquor Public Tax and Department DepartmPnt Environmental Recreation Fire Store Works Assessment Inspection City Health Department Department r Department Department Departrnent Treasurer Departsnent City Government Enqineer Buildings Engineering Street Public Division Division Utili�ies i g C i o i 3 i a 3 0 9 3 ii 3t �S �1 ;d s9 Es �9 =n i: s� �a W. ar eA gs g8 s@ s@ S aa `a s �s s� €a 3a �a k d Y. 9F o� U� 8 I� IL I U ��4 S�.— ,�2��-�; o I s _�JI� J p 'x 1 I II i F aF aAOOK�.N P<AK r �oo i 1 .�J�— y q �I 8 I j J 1 �;,«v. ..r.u.., a I P<Fx I f]f�] I d I IA S' q ,�i i—I I J Wo:.;�` wu�== V ���Y ,n,oW.. 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Q i i I 1� i� lp°� yllo E.�� oF M� il� a� �r Il��� 1� i �i ��U�L _,...�EU CITY OF �I��� a��� B R O O K L Y N TW�N :��e ,o...�E. C E N T E R LAKE ��D '`iL II I� ��M�oo�E� <9,..�,. ...R /\�p� z �oo �e I �o §a� \.�wE., II 7 ���L��< E, I I \�T ��L RYAN LAKE I I Aoee Hsaa�E_� I �a����, a,r V/� TWIN v/, p LAKE l aowee� CITY GENERi4L PROPERTIES �s, A. Civic Center (City Hall Community Center� 6. West Fire Station Liquor Store No. 2 C. East Fire Station P/�tRK SYSTEM KEY D. Liquor Store No. 1(�eased Property) E. Liquor Store No. 3(Leased Property) 1. Willow lane Park 13. Grandview Park F• City Maintenance Building G. City Maintenance Annex 2. Orchard lane Park 14. Evergreen Park H. Well No. 6, 1207 69th Avenue North 3. Kylawn Park 15. Bellvue Park I. Well No. 7, 7230 Camden Avenue North 4. Lakeside Park 16. Marlin Park J, Water Tower f�o. 1 5. Brooklane Park 17. Firehouse Park K. Water Tower No. 2 6. Wangstad Park 18. Riverdale Park L. Water Tower No. 3 7. Northport Park 19. Freeway Park M. Lift Station No. 1, 6112 Vincent Avenue North 8. Happy Hollow Park 20. Arboretum 9. Palmer Lake Park 21. Fiver Ridge Park (Miss. River) N. Lift Station No. 2, 5450 Lyndale Avenue North 10. Garden City Park (State Owned) O. Future Water Treatment and Maintenance Annex 11. Central Park 22, Twin Lake Beach Park P� Vacant 12. Lions Park (City State Owned) �4- n• Old City Hall Site (Vacant) I CITY OF 6301 SHINGLE CREEK PARKWAY ROO�LYN BROOKLYN CENTER, MINNESOTA 55430 TELEPHONE 561-5440 C E N T E EMERGENCY-POLICE-�FIRE R 561-5720 June 8, 1982 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 Annual Audited Financial Report of the City of Brooklyn Center as of December 31, 1981 and for the fiscal year then ended. Respon- sibility for both the accuracy of the presented data and the completeness and fairness of the presentation, including all disclosures, rests with the 1 City. Management believes that the data as presented, is accurate in all material aspects; that it is presented in a manner designed to fairly set forth the financial position and results of operations of the City as measured by the financial activity of its various funds; and that all disclosures necessary to enable the reader to gain the maximum understand- ing of the City's financial affairs have been included. In developing and evaluating the City's accounting system, consideration is given to the adequacy of internal accounting controls. Internal accounting controls are discussed by the Finance Director in his accompanying letter of I' 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 sub- stantially with high standards of public financial reporting, including generaZly accepted accounting principles promulgated by the National Council on Governmental Accounting. The City of Brooklyn Center was awarded a Certificate of Conformance for its Annual Financial Report for fiscal year 1980. It is my belief that the accompanying fiscal year 1981 Financial Report continues to meet program standards, and it will be submitted to the Municipal Finance Officers Association for review. In accordance with the above mentioned guidelines, the accompanying re�ort consists of three parts: (1) Introductory Section, including the Finance Director's letter of transmittal; (2) Financial Section, including the financial statements and supplemental data of the government accompanied by our independent auditor's opinion; (3) Statistical Section, including a number of tables of unaudited data depicting the financial history of the government for the past ten years, information on overlapping governments, and other miscellaneous information. -5- �Cie $oacet� a�r.e L� HONORABLE MAYOR AND MEMBERS OF CITY COUNCIL -2- June 8, 1982 State law and the Citv Charter require that the financial statements of the C,ity of Brooklyn Center be audited b_y 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. Res ectfully submitted, Geral G plinter City Ma er 1 i 1 1 1 1 1 1 1 1 1 _6_ 1 CITY I, OF 6301 SHINGLE CREEK PARKWAY B ROO�LYN BROOKLYN CENTER, MINNESOTA 55430 TELEPHONE 561-5440 ENTER EMEFiGENCY-POLICE-�FIRE 561-5720 June 7, 1982 I I I Mr. Gerald G. Splinter I City Manager City of Brooklyn Center Dear Mr. Splinter: The Comprehensive Annual Audited Financial Report of the City of Brooklyn Center, Minnesota for the year ended December 31, 1981 is submitted here- with. 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 National Council on Governmental Accounting, the American Institute of Certified Public Accountants, the Minnesota State Auditor, and the Brooklyn Center City Charter. 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 leqislative power of the City and determines all matters of policy. The Council is composed of a Mayor and four Cauncil- persons who are elected at large. Each Councilperson serves a term of three years and the Mayor serves a term of two years. The City Manager is the head of the Administrative branch of the City Government and is responsible to the Council for the proper administration of all affairs relating to the City. The City Manager is the chief accounting officer of the City and 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 -7- m� Mr. Splinter -2- June 7, 1982 keeping of the public 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 removal of department heads are made final upon a majority vote of the Council. ACCOUNTING SYSTEM AND BUDGETARY CONTROL In developing and evaluating the City's accounting system, consideration is given to the adequacy of internal accounting controls. Internal �I accounting controls are designed to provide reasonable, but not absolute, assurance regarding: (1) the safeguarding of 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 of reasonable assurance recognizes that: (1) the cost of a control should not exceed the benefits likely to be derived; and (2) the evaluation of costs and benefits requires estimates and judgments 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 I3ote 1 of the Notes to Financial Statements which can be found in the Financial Section of this report. Accounting for all the City's activities are centralized under the Department of Finance. The responsibility for maintaining and prescribing all financial records, establishing and main- taining 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 enter- prise funds, and special assessment funds, be budgeted. The City Manager is charged with the responsibility of preparing the estimates of the annual budget and the enforcement of the provisions of the budget as specified in the budget resolution. Upon adoption of the annual budget resolution by the Council, it becomes the formal budget for City operations. After the budget resolution is adopted, the Council can increase the budget only if actual receipts exceed the estimates or from accumulated surplus in the amount of an unexpended appropriation from the previous fiscal year. Financial reports, which compare actual performance with the budget, are prepared monthly and presented to the Council so the Council is able to review the financial status and measure the effectiveness of the budgetary controls. Budget control is maintained by recording encumbrances as purchase orders are written. Open encumbrances are reported as reservations of fund balance at December 31, 1981. THE CITY AND ITS SERVICES This report includes all of the funds and account groups of the City. It ihcludes all activities considered by the U.S. Bureau of Census to be part of (controlled by or dependent on) the City. The Housing and Redevel- opment Authority (HRA), although governed by Commission members who are -8- Mr. Splinter -3- June 7, 1982 also City Council members, is considered by Census to be a separate govern- ment because: (1) it is an organized entity; (2) it has governmental character; and (3) it is substantially autonomous. However, audited financial statements for the HRA are included in this report since the City receives and disburses funds for the HRA. Independent School District Nos. 286 (Earle Brown), 279 (Osseo), 281 (Robbinsdale), and 11 (Anoka) are totally or partially located in Brooklyn Center and provide secondary education services to s�udents within the corporate limits of Brooklyn Center. These independent school districts are governed by their respective school boards, therefore financial data applicable to them has been excluded from this report. Independent School District No. 287 (Suburban Hennepin County Area Vocational Technical Institute) financial data has also been excluded for the same reason. State Aid insurance premium tax in the amount of $49,325 was receipted in 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. 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 capital requirements by the municipal liquor stores operations have been used toward financing current expense and capital outlay programs of the General Fund. The financial condition of each of the City's funds as of December 31, 1981 and the results of each fur�s'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. GENERAL GOVERNMENTAL FUNCTIONS A summary of the City budget for governmental functions as originally adopted (prior to subsequent amendments) for the calendar year 1981 follows: Proposed Expenditures City operations (General Fund) $5,591,266 Debt redemption Park Improvement Bonds of 1980 169,010 1969 Building and Improvement Bonds 209,600 Total Proposed Expenditures $5,969,876 Proposed Source of Financing: Taxation (See summary of taxation presented below) $2,746,020 Intergovernmental (State and Federal revenue) 2,072,084 Tax penalties 50,000 -9- Mr. Splinter -4- June 7, 1982 Proposed Source of Financing: (continued} Local revenue: Gener�l government services 455,430 Permits and licenses 190,000 Court Fines 92,000 Miscellaneous revenue 147,000 Transfers-in: Liquor fund 125,000 Fund balance 92,342 Total Proposed Financing $5,969,876 Ad valorem tax levies for the current year 1981 and for the two previous years are summarized and presented below: 1981 1980 1979 Mill Mill Mill Tax Levy Rate Amount Rate Amount Rate Amount City Operations 12.824 $2,120,866 14.013 $7,,910,190 14.150 $1,831,293 Debt redemption 2.288 378,610 1.678 228,700 1.962 254,000 Public Employee's retirement 1.491 246,544 1.554 211,844 1.453 188,002 Total Levy 16.603 $2,746,020 17.245 $2,350,734 17.565 $2,273,295 Assessed Valuation 1981 1980 1979 Real estate $162,760,496 $134,112,276 $126,968,242 Non-exempt personal property 4,027,036 3,816,766 4,389,397 Fiscal disparities adjustment (1,680,827) (1,832,196) (1,464,192) Total Assessed Valuation $165,106,705 $136,096,846 $129,893,447 Minnesota's Levy Limitation Law was first implemented in 1972. 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�s of the prior year's levy. The law also provides certain mechanisms by which a munici- pality may adopt levies outside the levy limitations. The following table summarizes the City's compliance with the law for the years 1978 through 1981: 1981 1980 1979 1978 Total tax levy $2,746,020 $2,350,734 $2,273,295 $2,018,732 Less special tax levies 938,957 538,041 494,033 449,581 Limited levy $1,807,063 $1,812,693 $1,779,262 $1,569,151 Levy limitation 2,026,714 1,819,897 1,858,367 1,821,608 Under levy limitation 219,651 7,204 79,105 252,457 The State legislature enacted a"Fiscal Disparity Law" in 1971 which was I not implemented until taxes payable in 1975 due to a constitutional challenge. I 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 i criteria. The impact of the disparity law on the City is shown below. The City has, since the inception of the law eight years ago�contributed $8,131,731 in assessed valuation. The fiscal disparities adjustments for the eight years are as follows: -10- Mr. Splinter -5- June 7, 1982 Year Assessed Assessed Value Net Received Taxes Value Contri- Received Or Payable buted to "Pool" From "Pool° (Contributed) 1975 2,355,241 2,816,222 460,981 1976 3,746,879 3,880,301 133,422 i977 3,726,462 3,525,256 (201,206) 1978 4,856,260 3,666,177 (1,190,083) 1979 6,172,992 4,708,800 (1,�64,192) 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) 8 Year Total $52,Y45,634 $44,013,903 (8,131,731) As of December 31, 1981, the fund balance of the General Fund, which had not been appropriated to a specific expenditure purpose, totaled $3,122,416. This amount represents the working capital that is available to finance the general operations of the City. In accordance with its method of determining an adequate fund balance for working capital and contingencies in the General Fund, the Council directed the transfer of $250,000 to the Capital Projects Fund during 1981, Revenue received to be used for general governmental operations totaled $5,825,263 in 1981, an increase of $646,539 over the previous year. The following table presents an analysis of the major revenue sources (budgetary basis) of the General Fund for 1981 and compares them to 1980: Increase of (Decrease) Revenue Source 1981 Total 1980 From 1980 Taxes, Ad Valorem $1,655,642 28.4� $1,593,709 61,933 Intergovernmental r�venue 2,340,201 40.2 2,091,433 248,768 Charges for services' 728,828 12.5 556,316 172,512 Licenses and permits 207,100 3.6 195,931 11,169 Court fines 111,596 1.9 111,382 214 Miscellaneous revenues 236,931 4.1 195,710 41,221 Other sources 544,965 9.3 434,243 110,722 Total Revenue $5,825,263 100.0� $5,178,724 $646,539 Expenditures for general government operations totaled $5,079,704 in 1981, an increase of $479,625 over the previous year. The following table presents an analysis of the major expenditure functions (budgetary basis) of the General Fund for 1981 and compares them to 1980: Increase of (Decrease) Expenditures By Function 1981 Total 1980 From 1980 General Government. 910,876 17.9� 840,311 70,565 Public Safety 1,590,008 31.3 1,446,132 143,876 Public Works 1,177,958 23.2 1,103,334 74,624 Community Health 39,385 .8 43,521 (4,136) Parks and Recreation 1,163,551 22.9 925,312 238,239 Other uses 197,926 3.9 241,469 (43,543) Total Expenditures $5,079.704 100.0�s 54.600,079 S 479.625 -11- Mr. Splinter -6- June 7, 1982 The complete reporting of the General Fund financial o erations and osition P p can be found in the General Fund section of this report. 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, 1981 were as follows: Ratio of Debt to Ratio of Debt to Assessed Value Present Debt Per Amount of Present Market Market Value Capita Net direct bonded debt $2,618,602 1.45$ .40� 84.02 Outstanding general obligation bonds at December 31, 1981 totaled $5,170,000 of which $1,935,000 was issued to provide permanent financing for water, sanitary sewer, storm sewer and streets. The repayment of these bonds is provided from the proceeds of special assessments levied against the benefited property. Included also in the outstanding G.O. Bonds were $600,-000 of G.O. State Aid Street Bonds which were issued to finance state aid projects and are repaid from state allotments. The remaining $2,635,000 is direct tax supported debt which is repaid by the proceeds of ad valorem tax levies. During the past year, $575,000 of general obligation bonds were retired. Outstanding revenue bonds on December 31, 1981 totaled $480,000. These are bonds issued in 1963 for improvements to the water utility a.nd are repaid from the public utilities revenues. During the past year, 540,000 of revenue bonds were retired. The City has a current Moody's Investars Service bond rating of "A-1". More detailed information about the debt position of the City can be found in the statistical section of this report. CASH MANAGEMENT The Investment Fund was established to provide a uniform and consistent means for investing temporary surpluses of individual City Funds. Each individual City Fund invests in the Investment Fund and that Fund, in turn, invests these temporary surplu�es in obligations issued by the United States and its agencies, bank certificates of deposits, repurchase agree- ments, savings and loan associations' savings certificates and City of Brooklyn Center construction notes issued to provide temporary financing for construction in the special assessment funds. The average yield on investments during the year was 11.05$ and the Fund distributed $1,622,451 in interest earnings to the participating funds. GAPITAL PROJECTS FUND The Capital Projects Funds of the City include the following: Lawcon Fund: Established to account for federal and state land and water conservation grants expended on developing certain park lands. -1� Mr. Splinter -7- June 7, 1982 Open Space Land Acquisition Fund: Established to account for federal and state grants expended on the acquisition of public open space lands within the community. Community Development Block Grant Fund: Established to account for grants received from the Department of Housing and Urban Development expended on projects for low and moderate income individuals in the manner as set forth in the Community Development Block Grant Guidelines. Capital Projects Fund: Established to account for monies received from various sources (including the Lawcon and Community Development Funds, G. O. Bond funds- and other Fund transfers) expended on certain major, permanent facilities. A listing of current capital projects can be found in Schedule S-l. Municipal State Aid for Construction Fund: Established to account for monies rece,ived from the Minnesota Department of Transportation expended on State Aid approved projects. The reporting of these funds'financial operations and position can be found in the Capital Projects Funds'Statements section of this report. PUBLIC UTILITIES FUND Comparative data for the City's Public Utilities operations for the past two fiscal years are shown in the following table: 1981 1980 Water Department operating revenue 504,269 $531,258 Sewer Department operating revenue 1,117,670 948,644 Water Department operating income 82,045 123,431 Sewer Department operating income 165,741 230,053 Water Department net income 583,819 498,399 Sewer Department net income 293,849 296,943 Water customers at year end 8,225 S,il9 Sewer customers at year end 8,426 8,371 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' finaneial operations and position can be found in the Enterprise Funds'Statements section of this report. LIQUOR STORES FUND The City's three municipal off-sale liquor stores earned a combined net profit of $155,519 for the calendar year ended December 31, 1981. The Liquor Fund transferred $125,000 during the year to the General Fund to assist in the financing of City operating expenses. A condensed comparison of the stores' 1981 operations with those of 1980 follows: 19 81 19 80 Sales $2,477,234 $2,404,379 Cost of Sales 1,967,827 1,940,294 Gross profit on sales 509,407 464,085 Operating expenses 364,496 330,200 Net operating income 144,911 133,885 Interest and other income 10,608 8,571 Net Income 155,519 142,456 Transfers to the General Fund 125,000 I25,000 -13- Mr. Splinter -8- June 7, 1982 The Department completed the installation of an on-line automated inventory control and management system during 1981. The system features point of sale terminals and automatic daily polling of these terminals by the computer through telephone access. 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. The complete reporting of the Special Assessment Funds' financiaZ operations ancl position can be found in the Special Assessments Funds'Statements section of this report. GENERAL FIXED ASSETS The general fixed assets of the City are those fixed assets used in the performance of general government functions and exclude the fixed assets of the Enterprise Funds (Public Utilities and Liquor). As of December 31, 1981, the general fixed assets of the City amounted to $21,994,475. 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 CONFORMANCE The Municipal Finance Officers Association of the United States and Canada (MFOA) awarded a Certificate of Conformance in Financial Reporting to the City of Brooklyn Center for its comprehensive annual audited financial report for the fiscal year ended December 31, 1980. In order to be awarded a Certificate of Conformance, a governmental unit must publish an easily readable and efficiently organized comprehensive annual financial report, whose contents conform to program standards. Such reports must satisfy both generally accepted accounting principles and applicable legal requirements. A Certificate of Conformance is valid for a period of one year only. We believe our current report continues to conform to Certificate of Conformance Program requirements, and we are submitting it to MFOA to determine its eligibility for another certificate. -14- Mr. Splinter -9- June 7, 1982 ACKNOWLEDGEMENTS The preparation of this report on a timely basis could not be accomplished without the efficient and dedicated services of the entire staff of the I 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 PWH:pk -15- 1 C ertif icate 1 of s C onf ormance 1 in Financla_ Ae ortin p g Presented to 1 Ci of 1 Brooklyn Center, Minnesota For its Comprehensive Annual Financial Report for the Fiscal Year Ended December 31, 1980 A Certificate of Conformance in Financial Re ortin i p gs preserated by the Municipal Finance Officers Association of the United States and Canada to governmental units and public employee retirement systems whose comprehensive annual financial reports (CAFR's) are judged to substantially contorm to program standards. ��,E OFF/� iN1ED STA� v ANO H, 1 ilt c CANADA o �i CORPORATION S'slEAl[. v y ��F CNICA6�N� Executive Director 1 —16— �I oen an��entti� Lt� 1 CERTIFIED PUBLIC ACCOUNTANTS VALLEY SOUTH BUILDING 6950 WAYZATA BOULEVARD SUITE 203 MINNEAPOLIS, MINNESOTA 55426-1777 (612) 546-3306 OIVA PENTTILA, CPA MEMBERS GEORGE D. BETTS cPA May 21 19H�L AMERICAN INSTITUTE OF CPA'S KENNETH P. JAEB, CPA MINNESOTA SOGETY OF CPA'S 1AME5 W. SEIFERT, CPA Honorable Mayor, Members of the City Council and City Manager Brooklyn Center, Minnesota We have examined the combined fLnancLal statements of the City of Brooklyn Center, Minnesota, as of and for the year ended December 31, 1981 and 1980, as listed in the table of contents. Our examination was made in accordance with generally accepted auditing standards and, accordingly, included such tests of the accounting records and such other auditing pro- cedures as we considered necessary in the circumstances. In our opinion, the combined financial statements referred to above present fairly the financial position of the City of Brooklyn Center, Minnesota, at December 31, 1981 and 1980, 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. Our examination was made for the purpose of forming an opinion on the combined financial statements taken as a whole. The combining, individual fund, and account group financial statements and schedules listed in the table of contents are presented for purposes of additional analysis and are not a required part of the combined financial statements of the City of Brooklyn Center, Minnesota. The information has been subjected to the auditing pro- cedures applied in the examination of the combined financial statements and, in our opinion, is fairly stated in all material respects in relation to the com- bined financial statements taken as a whole. Respectfully submitted, r MOEN PENTTILA, LTD. Field work completed May 10, 1982. Report signed May 21, 1982. -1?- City of Brooklyn Center Exhibit 1 All Fund Types and Account Groups COMBINED BALANCE SHEET December 31, 1981 Proprietary Fiduciary Totals Governmental Fund Types Fund Types Fund Types Account Groups Memorandum Only Special Debt Capital Special Trust General General Long December 31, ASSETS General Revenue Service Projects Assessments Enterprise Agency Fixed Assets Term Debt 1981 1980 Cash on hand and in banks 42, 102 Investments (at cost)(Note lE) 1, 804, 784 3, 900 -0- 46, 002 76, 761 $1, 179, 874 $468, 605 $3, 497, 277 $3, 192, 658 2, 118, 03 159, 707 12, 430, 936 12, 020, 949 Receivables (net of uncollectible): Taxes 200, 771 3, 396 29, 560 1, 305 235, 032 135, 953 A ccounts 8, 495 3, 523 13, 651 105, 885 43, 806 175, 360 153, 857 Special assessments 7, 949 4, 071, 546 3, 859 4, 083, 354 1, 945, 666 Accrued revenue 2, 083 210, 36fi 212, 449 147, 091 City share of improvements 178, 758 178, 758 159, 092 Due from other funds 621, 914 54 753, 273 401, 280 120 1, 776, 641 1, 458, 150 Due from other governments 638, 182 57, 477 34, 100 1, 401, 803 1, 439 83, 565 2, 216, 566 1, 047, 512 Inventories and supplies (Note 1F) 61, 381 268, 984 330, 365 327, 233 Prepaid expenses and deferred charges 77, 352 14, 761 78, 145 170, 258 71, 396 Restricted investments and other assets (Notes 3& 4) 4, 606, 531 4, 606, 531 4, 349, 050 Property, plant and equipment (Note 12) 13,425,174 $21,994,475 35,419,649 32,391,987 Less; Accumulated depreciation 3, 095, 334) 3, 095, 334) 2, 899, 918) Authorization to assess for con- struction in progress 6, 251 6, 251 1, 546, 860 Amount available in debt service funds 508, 482 508, 481 403, 728 Amount to be provided for �eneral Long-Term Debt 2, 904, 479 2, 904, 479 3, 175, 364 i Total Assets $3, 454, 981 $1, 254, 356 $532, 2 $5, 652, 353 880, 344 $17 80�J, 226 $214, 818 $21, 994, 475 $3, 412, 960 $62, 205, 778 $56, 510, 731 City of Brooklyn Center Exhibit 1 All Fund Types and Account Groups (continued) COMBINED BALANCE SHE�T December 31, 1981 Proprietary Fiduciary Totals Governmental Fund T.ypes Fund T,ypes Fund Types Account Groups Memorandum Only Special Debt Capital Special Trust General General Long December 31, LIABILITIES AND FUND General Revenue Service Projects Assessments Enterprise Agency Fixed Assets Term Debt 1981 1950 EQUITY Liabilities Accounts payable 300, 413 5, 160 ll3, 740 7, 681 Q 226, 994 390, 675 Con4racts payable 189, 253 32, 682 185, 316 407, 251 783, 146 Due to other funds 125, 601 375, 101 24, 164 937, 243 'L68, 449 46, 083 1, 776, 641 1, 458, 150 Accrued expenses 101, 627 295, 789 19, 631 417, 047 304, 661 Construction loans payable 2, 509, 642 2, 509, 642 1, 929, 423 Assessments payable on City property (Note 5) 177, 960 177, 960 159, 092 Special assessments bonds payable 1, 935, 000 1, 935, 000 2, 325, 000 Revenue bonds payabl� 480,000 480,000 520,000 General obligation bonds payable 3,235,000 3,235,000 3,420,000 Customer and contractor deposits 12, 200 L2, 200 400 Deferred credits (Notes 3& 4) z99� �88 299 �88 Due to other governments 135, 786 18, 513 207, 137 361, 436 545, 878 Total Liabilities 327, 641 375, 101 24, 164 $1, 267, 442 $5, 053, 762 1, 163, 071 $214, 818 -0- $3. 412, 960 $11, 838, 959 $11, 836, 425 Fund Equity Contributed capital $10,158,862 $10,158,862 $10,101,350 Invested in general fixed assets $21, 994, 475 21, 994, 475 19, 463, 637 Retained earnings; Reserved: Appropriations and deferred assessments 365, 544 365, 544 Reserved for debt retirement 135, 280 135, 28a 131, 485 Reserved for construction 92, 139 92, 139 82, 982 Reserved for working capital 620, 000 620, 000 20, 000 I�esignated for plant expansion 4, 000, 000 4, 000, 000 3, 777, 213 Unreserved 1,274,330 1,274,330 1,567,426 Fund Balances: Reserved: Reservedfor encumbrances (Note 1G) 4, 924 4, 924 19; 171 Reserved for debt services $2,635,539 2.635,539 2,291.377 Appropriations 504, 281 $508, 101 $2, 627, 584 191, 043 3, 831, 009 2, 459, 132 Unreserved 3, 122, 416 374, 974 1, 757, 327 5, 254, 717 4, 760, 533 Total Fund Equity $3, 127, 340 879, 255 $508, 101 $4, 384, 911 $2, 826, 582 $16, 646. 155 -0- ¢21, 994, 475 -0- $50, 366, 819 $44, 674. 306 Total Liabilities and Fund Equity $3, 454, 981 $1. 254, 356 $532, 265 $5, 652.353 $7, 880, 344 $17. 809, 226 $214, ii18 �'L1, �J94, 475 $3, 412, 960 $62, 205, 778 $56, 510, 731 (See notes to financial statements) This statement is an integral part of report dated May 26, 1982. i i r r City of Brooklyn Center Exhibit 2 All Governmental Fund Types COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE December 31, 1981 Memorandum Only Special Debt Capital Special Totals General Revenue Service Projects Assessments 1981 1980 Revenues Taxes and specia2 assessments levied $1, 655, 642 $378, 610 $2, 595, 907 4, 630, 159 2, 449, 082 Licenses and permits 207, 100 207, 100 195, 931 Intergovernmental revenue 2, 34Q 201 $211, 738 $1, 172, 744 3, 724, 683 3, 247, 840 Charges for services 728, 828 25, 098 753, 92& 470, 732 Fines and forfeits 111, 596 111, 596 111, 382 Interest 45,123 362,968 458,306 866,397 697,459 Miscellaneous 236, 931 119, 298 61, 150 1, 283, 843 1, 701, 222 417, 025 Total Revenues $5, 280, 298 $356, 134 $423, 733 $1, 596, 862 $4, 338, 058 $11, 995, 083 7, 589, 451 Expenditures General government 910, 131 910, 131 839, 307 Public saPety 1, 588, 149 1, 588, 149 1, 442, 619 Streets and hi hwa s 1 176 447 g Y 1, 176, 447 1, 103, 166 Community health services 39, 385 39, 385 37, 336 Parks and recreation 1, 162, 878 1, 162, 878 917, 224 o Other 40,586 607 13,737 3, 807 58, 737 61, 563 Capital outlay 1, 113, 200 1, 017, 477 2, 130, 677 5, 171, 774 Debt service: I Principal retirement 185, 000 185, 000 195, 000 Interest and fiscal charges 227, 154 123, 608 350, 762 277, 177 Total Expenditures $4, 876, 990 4D, 5$6 $412, 761 $1, 126, 937 $1, 144, 892 7, 602, 166 $30, 045, 166 Excess of Revenues Over (Under) Expenditures 403, 308 $315, 548 10, 97'L 469, 925 $3, 193, 164 4, 392, 917 $(2, 455, 715) Other Ftnancing Sources (Uses) Charges against authorization to assess $(2, 614, 393) 2, 614, 393) Sale of bonds 1,500,000 Transfers in from other funds 544, 965 93, 401 497, 345 178, 002 1, 313, 713 1, 235, 343 Transfers out to other funds 250, 000) $(375, 801) 55, 000) 680, SO1� 1, 346, 617) Insurance and other 197, 790) i, 500 196, 290) 174, 1561 Total Other Financing Sources (Uses) 97, 175 ${375, 801) 93, 401 443, 845 $(2; 436, 391) 2, 177, 771) 1, 214, 570 Excess of Revenues and Other Sources Over (Under) Expenditures and Other Uses 500, 483 60, 253) $104, 373 g 913, 770 756, 773 2, 215, 146 1, 241, 145 Decrease in reserve for encumbrances ]9, 170) 19, 170) Fund Salances, January 1 2, 646, 027 939, 508 403, 728 3, 471, 141 2, 069, 809 9, 530, 213 10, 31$, 877 Fund Balances, December 31 $3, 127, 340 $879, 255 $508, 101 $4, 384, 911 $2, 826, 582 $11. 726, 189 9, 077, 732 (See notes to financial statements) This statement is an integral part of report dated Ntay 26, 1982. City of Brooklyn Center Exhibit 3 General Fund STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE ACTUAL (GAAP BASIS) AND COMPARISON OF BUDGETARY BASIS TO BUDGET (NON-GAAP! For the Year 1981 With 1980 Actual (GAAP Basis) for Ccmparison of Actual Y e a r 1 9 8 1 Adjustment Bud�etary Basis Actual to Rud�etary Budgetary Over (Under) 1980 Actual (GAAP Basis) Basis Basis Budget Budget (GAAP Basis) R eve nue Ad valorem taxes $1. 655, 642 $1, 655. 642 $1, 670, 631 14, 989) $2, 188, 218 License and permits 207, 100 207, 100 190, 000 17, lU0 195, 931 Intergovernmental revenue 2, 340, 201 2. 340, 201 2, 367, 253 27, 052) 1, 496, 924 Charges for services 728,828 728.828 612,930 115,898 451,688 Court fines 111, 596 111. 596 92, 000 19, 596 111, 382 I Miscellaneous 236, 931 236, 931 35, 865 201, O66 300, 338 Total Revenue $5, 280, 298 -0- $5, 280, 298 $4, 968, 679 $311, 619 $4, 744, 481 E xpenditures General government 910, 131 745 910, 876 967, 533 56, 657) 839, 307 Public safety 1, 588, 149 1. 859 1, 590, 008 1, 691, 954 101, 946) 1, 442, 619 Streets and highways 1, 176, 447 1. 511 1, 177, 958 1, 318, 810 (140, 852) 1, 103, 166 N Community healtk services 39, 385 39, 385 43, 000 3, 615) 37, 336 Parks and recreation 1, 162, 878 673 1, 163, 551 1, 276, 290 (112, 739) 917, 224 Total Expenditures $4, 876, 990 4, 788 $4. 881, 778 $5, 297, 587 $(415, 809) $4, 339, 652 Excess (Deficiency) of Revenue Over Expenditures 403, 308 4, 788) 398, 520 328, 908) $727,428 404,829 Other Financing Sources (Uses) Appropriated Ge�eral Fund fund balance 92, 342 92, 342 92, 342 I Operating transfers in 544, 965 544, 965 587. 070 42, 105) �u 434, 243 I Insurance and other unallocated expenditures 197, 790) 136) 197, 926) 350, 504) 152, 578 241, 256} Transfer to Capital Projects Fund 250, 000) 250, 000) (250, 000) 490, 000) Total Other Financing Sources (Uses) 97.175 92,206 189,381 328,9Q8 $(139,527) 297,013) Excess (Deficiency) of Revenues Over Expentlitures and Other Sources (Uses) 500,483 87,418 g 587,901 -0- $587,901 107,816 Fund Balance at Beginning of Year 2, 646, 027 2, 646, 027 2, 646, 027 2, 758, 631 Fund balance appropriated to budget 92, 342) 92, 342) �J2, 342) Decrease in reserve for encumbrances 19, 140) 4, 924 14, 246) -0- I4,B46) 220, 420) Fund B alance at End of Year $3, 127, 340 -0- $3, 127, 340 $2, 553, 685 $573, 655 $2, 646, 027 (See ❑otes to financial statements) This statement is an integral part of report dated May 26, 1982. w a■� i City of Brooklyn Center Exhibit 4 Special Revenue Funds COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL r For the Year Ended December 31, 1981 A ctual Over (Under) Budget A ctual Budget Intergovernmental Revenue Federal grants $204, 675 $204, 675 State grants 063 063 Total Intergovernmental Revenue $211, 738 $211, 738 -0- Charges for Services Tree removal fees 23, 238 23, 238 Administrative charges 1, 860 1, 860 Total Charges for Services 25, 098 25, 098 -p_ Misceilaneous l�evenue Interest on investments $108, 832 $108, 832 Special assessments ordered 3, 222 3, 222 Refunds 7, 244 7, 244 Total MiscElla.neous Revenue $119, 298 $119, 298 Total Revenue $356, 134 $356, 134 -p- Expenditures Contracted services 39, ?55 39, 755 Refunds 32 32 Other 799 799 Total Expenditures 40, 586 40, 586 -0- Excess of Revenues Over Expenditures $315, 548 $315, 548 -p_ Other Financing Sources (Uses) 375, 801) 375, 801) Excess (Deficit) of Revenues and Other Financing Sources Over Expenditures and Other Uses 60, 253) 60, 253) -p- Fund Balance, January 1 $939, 508 Fund Balance, December 31 $879, 255 i (See notes to financial statements) This statement is an integral part of report dated May 26, 1982. -22- City of Brooklyn Center Exhibit 5 All Proprietary Fund Types COMfiINED STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAIIVED EARIVINGS/FUND BALANCES For the Year Ended December 31, 1381 With Comparative Totals for the Year Ended December 31, 1980 Proprietary Fund Types Municipal Public Totals Liquor Utilities 1981 1980 Revenues Charges for services $1, 518, 638 $1, 518, 638 $1, 479, 902 Gross margin on product sales $509, 407 509, 407 464, 085 Interest 8,446 647,302 655,748 465,071 Other revenuea 2, 162 106, 271 108, 433 13, 938 Total Revenues $520, 015 $2, 272, 211 $2, 792, 226 $2, 422, 996 Expenses Personal services $193,305 157,512 350,817 320,193 Contractual services 57, 868 269, 470 327, 338 240, 176 Supplies and materials 8, 343 34. 105 42, 448 42, 050 Insurance 23,252 4,654 27,906 31,938 Rent and administration 63, 546 86. 096 149, 642 128, 442 Interest and fiscal agent fees 30, 343 20, 343 21, 710 Depreciation 12, 542 185, 060 197, 602 190, 989 N Metropolitan Waste Control Commission service charges 637, 256 637, 256 502, 830 w Other 5, 640 47 5, 687 6, 870 Total Expenses $364.496 $1, 394, 543 $1, 759, 039 $1, 485, 198 Excess of Revenues Over (Under) Expenses $155, 519 877, 668 $1, 033, 187 937, 798 Other F[nancing Sources (Uses) Transfers to General Fund $(125, 000) g( 125, 000) 125, 000) Total Other Financing Sources (Uses) $(125, 000) -0- 125, 000) 125, 000) Excess of Revenues and Other Sources Over (Under) Expenses and Other Uses 30, 519 877, 668 908, 187 812, 798 Retained EarningslFund Balance, January 1 210, 355 5, 368, 751 5, 579, 106 4, 466, 308 Retained Earnings/Fund Balance, December 31 $240, 874 $6, 246, 419 $6, 487, 293 $5, 579, 106 (See notes to financial statements) This statement is an integral part of report dated Ma,y 26, 1982. 1 City of Brooklyn Center Exhibit s Proprietary Funds (Note 12) COMBINED STATEMENT OF CHANGES IN FINANCIAL POSITION For the Year Ended December 31, 1981 With Comparative Totals for the Year Ended December 31, 1980 Municipal Public Liquor Utilities Totals Fund Fund 1981 1980 Sources of Financial Resources Operations: Net income for year $155, 519 877, 668 $1, (133, 187 937, ?98 A dd: Items not requiring current outla.y of resources: depreciation 12, 542 185, 060 197, 602 190, 990 'I Total Resources Provided by Operations $168, 061 $1, 062, ?28 $1, 230, 789 $1, 128, 788 Property sold 2, 188 2, 188 Debt retirement investments sold 1, 365 Contributions toward construc- tion 57, 512 57, 512 79, 474 Decrease in working capital 8, 067 8, 067 Decrease in deferred assessments 4, 936 Decrease in M. W. C. C, receivable 8, 866 8, 866 8, 348 Decrease in settlement receivable 1, 402 Totals $176, 128 $1, 131, 294 $1, 307, 422 $1, 224, 313 Uses of Financial Resources Purchase of properties 51, 128 447, 883 499, 011 140, 196 Payments to retire bonds 40, 000 40, 000 35, 000 Increase in working capital 362, 726 382, ?26 729, 537 Increase in restricted invest- ments 222, 787 222, 787 176, 196 Transfers to General Fund 125, 000 125, 000 125, 000 Amortization of deferred gain on sale of assets 3, 284 3, 284 3, 284 Construction funds invested 9, 157 9, 157 6, 752 Amortization of Metro Waste Control Commiss- ion deferred credit 8, 866 8, 866 8, 348 Depreciation on property sold 2, 188 2, 188 Increase in deferred assess- ments 30, 608 30, 608 Debt retirement proceeds invested 3, 795 3, 795 Totals $176, 128 $1, 131, 294 $1, 3Q7, 422 $l, 224, 313 (See notes to financial statements) This statement is an integral par�t report dated May 26, 1982. C ity of Brooklyn Center NOTES TO FINANCIAL STATEMENTS December 31, 5981 Note 1: Summary of Significant Accounting Policies A Fund A ccountin g The accounts of the City are organized on the basis of funds and account groups, each of which is considered a separate accounting entity. The operations of each fund are accounted for with a separate set of self-bala.ncing accounts that comprise its assets, liabilities, fund equity, revenues, and expenditures, or expenses, as appropriate. Government resources are allocated to and accounted for in individual funds based upon the purposes for which they are to be spent and the means by which spending activi- ties are controlled. The various funds are grouped, in the fin- ancial statements in this report, into seven generic fund types and three broad fund categories as follows: GOVERNMENTAL FUNDS General Fund The General Fund is the general operating fund of the City. It is used to account for all financial resources except those required to be accounted for in another fund. Special Revenue Funds Special Revenue Funds are used to account for the proceeds of certain speeific revenue sources that are legally restricted to expenditures for specified purposes. Debt Service Funds Debt Service Funds are used to account for the accumula.tion of resources for, and the pa.yment of, general long-term debt principal, interest, and related costs. Capital Projects Funds Capital Projects Funds are used to account for financial resources to be used for the acquisition or construction of major capital facilities other than those financed by proprietary funds or Special Assessment Funds. Special Assessxnent Funds Special Assessment Funds are used to account for the financing of public improvements or services deemed to benefit the properties against which special assessments are levied. -25- City of Brooklyn Center NOTES TO FINANCIAL STATEMENTS December 31, 1981 Note 1: Summary of Significant Accounting Policies -(continued) PROPRIETARY FUNDS Enterprise Funds Enterprise Funds are used to account for operations that are financed and operated in a manner similar to private business enterprises where the intent is that the costs (expenses, i.ncluding depreciation) of providing goods or services to the general public on a continuing basis be financed or recovered primarily through user charges. FIDUCLARY FUNDS Agency Funds Agency Funds are used to account for assets held by the City as an agent for other government units. B. Fixed Assets and Long-Term Liabilities The accounting and reporting of fi�ed assets and long- term liabilities associated with a fund are determined by its measurement focus. All governmental funds are accounted for on a spending or "financial flow" measurement, which means that only current assets and current liabilities are generally included on their balance sheets. Their reported fund balance is considered a measure of "availa.ble spendable resources". Governmental fund operating statements present increases (revenues and other financing sources) and decreases (expenditures and other financing uses) in net current assets. Accordingly, they are said to present a summary of sources and uses of "available spendable resources" during a period. Fixed assets used in governmental fund type operations are accounted for in the General Fi.xed Assets Account Group, rather than in the governmental funds. Public domain general fixed assets consisting of certain improvements other than buildings, including roads, curbs and gutters, streets and side- walks drainage systems, and ligi�ting systems, are capitalized along with other general fixed assets. No depreciation has been provided on general fixed assets. All fixed assets are valued at historical cost or estimated historical cost if historical cost is unavailable. Donated fixed assets are valued at their estimated fair value on the date donated. -26- City of Brooklyn Center NOTES TO FIlVANCIAL STATEMENTS December 31, 1981 Note 1: Summary of Significant Accounting Policies -(continued) The fixed assets of the Liquor and Public Utilities Funds are depreciated using the straight-line method over the estimated useful lives of the assets. The estimated useful lives are as follows: Public Utilities Water Sewer Liquor Mains/Lines 100 yrs. 100 yrs. Structure/improve 30 yrs. 25 yrs. 3-10 yrs. Equipment 5- 25 yrs. 3-10 yrs. Public LTtility assets financed by special assessments are recorded as contributions in aid of construction. Long-term liabilities expected to be financed from govern- mental funds are accounted for in the General Long-Term Debt Group, not in the governmental funds. The single exception to this rule is for special assessment bonds, which are accounted for in Special Assessment Funds. The two account groups differ from "funds" in that they are not involved with measurement of results of operations. They are concerned only with the measurement of financial position. Because of their spending measurement focus, expendi- 1 ture recognition for governmental fund types is limited to exclude amounts represented by noncurrent liabilities. Since they do not affect net current assets, such long-term accounts are not recog- nized as governmental type expenditures or fund liabilities. They are instead reported as liabilities in theGeneral Long-Term Debt A ccount Group. C. Basis of Accountin� tin refers to when revenues and ex endi- Basis of accoun g p tures or expenses are recognized in the accounts and reported in the financial statements. Basis of accounting relates to the timing of the measurement made, regardless of themeasurement focus aPPlied. -27- City of Brooklyn Center NOTES TO FINANCIAL STATEMENTS December 31, 1981 Note 1; Summary of Significant Accounti.ng Policies -(continued) All overnmental funds and a enc funds are accounted for g g Y using the modified accrual basis of accounting. This means that their revenues are recognized when they become measurable and available as net current assets. Special assessments and property taxes are considered "measurable" when in the hands of inter- t mediary collecting governments and are recognized as revenue at that time. Anticipated refunds of such taxes are recorded as liabilities and reductions of revenue when they are measurable and their validity seems certain. Virtually all sources of revenue are accrued except interest on special assessments receiv- able which is recognized when due. i Expenditures are generally recognized under the modified accrual basis of accounting when the related fund liability is incurred. Exceptions to this general rule include: (1) accumu- lated unpaid vacation, sick pay, and other employee amounts which are not accrued; and (2) principal and interest on general long-term clebt which is recognized when due. AIl 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 receiv- ables are recorded at year end. D. Budgets and Budgetary A ccountirig Financial control of spending for various governmental activities is exercised through the use of budgetary procedures. Exclusive authority over all budget matters remains with the Council. The Council adopts all budgets, and any amendments to those budgets also require specific approval by the Council. Departmental budgets may not exceed amounts set by the Council althought lega,lly gross expenditures may not exceed gross reve- nues and other sources. Budgetary reporting is included in this report in the General Fund on the modified accrual bas is of accounting. Formal annual budgets are not employed for Special Revenue Funds, Capital Projects Funds, Special Assessment -28- IL City of Brooklyn Center NOTES TO FINANCIAL STATEMENTS December 31, 1981 Note 1: Summary of Signi.ficant Accounting Policies -(continued) Funds or Debt Service Funds. Effective budgetary control is alternatively achieved in these funds by Council approval of individual projects and expenditures. Supplemental appro- priations during the year were not material in amount. Appro- priations which are not encumbered at year end lapse. E Investments Investments are stated at cost, which approximates markEt. Cash bala.nces from all funds are pooled and invested, to the extent available, in authorized investments. Interest income on such investments is recorded as earned, and allocated to the respective funds on the basis of the participating funds investment. F. Inventory Inventories within the Water and Sewer Fund and the Municipal Liquor Stores Fund are valued at the lov�e r of cost (first-in, first-out) or market. Inventory quantities are deter- mined by utilizing physical counts. G. Encumbrances Encumbrances accounting, under which purchase orders, contracts, and other committments for the expenditure of monies are recorded in order to reserve that portion of the applicable appropriation, is employed. Encumbrances outstanding at year e s Lnce the do f d b lanc s end are re orted as reservations of un a p Y not constitute expenditures or liabilities. H. Comparative Data Comparative totals for the prior year have been presented in the accompanying fina.ncial statements in order to provide an understanding of changes in the City's financial position and oper- ations. However, comparative (i.e., presentation of prior year totals by individual funds) data have not been presented in each of the statements since their inclusion would make the statements unduly complex and difficult to read. -29- C ity of Brooklyn Center NOTES TO FINANCIAL STATEMENTS December 31, 1981 Note 1: Summary of Significant Accounting Policies -(continued) I. Total Columns on Combined Statements Total columns on the Combined Statements are captioned Memorandum Only to indicate that they are presented only to facilitate financial analysis. Data in these columns do not pre- sent financial position, results of operations, or changes in financial position in conformity with generally accepted account- ing principles. Neithe r is such data comparable to a consoli- dation. Interfund eliminations have not been made in the aggregation of this data. J. Property Tax The City Council annually adopts a tax levy and certifies it to the County for billing and collection. The County is respon- sible for billing and collecting all property taxes for itself, the City, the local School District and other taxing authorities. These taxes are payable (by property owners) by May 31 and October 31 of each calendar year. These taxes are collected by the County and remitted to the City by. approximately each sub- sequent July 15 and December 15. A dditionally, delinquent collections are remitted to the City with each settlement. The C ity has no ability to enforce payment of property taxes by pro- perty 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 two equal installments in July and December each year. The city recognizes property tax revenue when it becomes both measurable and available to finance expenditures of the current period. K. Special A ssessments Special assessments are levied against the benefited pro- properties for the assessable costs of special assessment impro- vement projects in accordance with State Statutes. The City usually adopts the assessment rolls when the individual projects are complete or substantially complete. The assessments are collectible over a term of years generally consistent with the 30 C ity of Brooklyn Center NOTES TO FINANCIAL STATEMENTS December 31, 1981 Note 1: Summary of Significant Accounting Policies (continued) K. Special A ssessments continued term o£ years of the related bond issue. Collection of annual installments (including interest) is handled by the County in the same manner as property taxes. Property owners are allowed to prepay total future installments without interest or pre-payment penalties. The City recognizes speeial assessrnent revenue when it becomes both measurable and available to finance bonded debt. In practice, special assessment principal is recognized as rev- enue in the year when assessment rolls are tabulated and adopted by the City Council, and when it is available to finance the regulated bond issue principal. Special assessment interest is recognized as revenue in the year due. Once a special assessment roll is adopted, the amount attributed to each parcel is a lien upon that property until full payment is made or the amount is determined to be excessive by the City Council or 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 sale) are remitted to the City in payment of delinquent special assessments. Gen- erally, the City will collect the full amount of its special assess- ments if not adjusted by City Council or court action. Accordingly, no allowance for potentially uncollectibl.e assessments has been provided. L. Local Government A id Local government aid is provided to the City by the State as a shared tax based upon a statutory formula. and with- out spending restrictions. Payment frorn the State is generally received during each calendar year for'that calendar year. The City recognizes local government aid revenue when it becomes both measurable and available to finance current operations. M. Grants The City receives various Federal, State and other grants, the purpose of which is to fund specific City expenditures. -31- City of Brooklyn Center NOTES TO FINANCIAL STATEMENTS December 31, 1981 Note 1: Summary of Significant Accounting Policies -(continued) M. Grants continued 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. N. Severance and Vacation Pay Policies The City pays employees severance pay upon termin- ation of employment based on accumulated sick leave and accrued vacation. Severance, vacation and sick leave pay are recorded as an expenditure when paid. At December 31, 1980, the City had a liability of $110, 426 for accrued vacation pay and a liability of 150, 481 for accumulated sick leave. Note 2; Changes in Long-Term Debt The following is a summary of bond transactions of the City for the year ended December 31, 1981: Debt Public S ecial P Service Utilities Assessments Fund Fund Fund Total Bonds payab�e January $3, 420, 000 $520, 000 $2, 325, 000 $6, 265, 000 Bonds retired 185, 000) 40, 000) 390, 000) 615, 000) B onds Payable December 31 $3, 235, 000 $480, 000 $1, 935, 000 $5, 650, 000 $508, 101 is available in Debt Service Funds for payment of General Obligation Bond principal and interest. General Obligation Bonds General Obli ation Bonds are recorded in the eneral g G Long-7'erm Debt Group of A ccounts and are backed by the full faith and credit of the City. -32- City of Brooklyn Center NOTES TO FINANCIAL STATEMENTS December 31, 1981 Note 2: Changes in Long-Term Debt -(continued) Special Assessment Bonds These bonds are recorded as a liability in the Special Assessment Funds and are payable primarily from special assessments levied and collected for 1oca1 improvements. The City has a cot�tingent liability relating to a pledge of full faith and credit on the Special Assessment Bonds. The general �redit of the City is obligated only to the ext�nt that liens foreclosed against properties involved in the special assessment districts are insuffi- cient to retire outstanding bonds. Note 3: Public Utilities Fund Public Utilities Revenue bonds were issued during 1963 to finance an addition to the water works system. These bonds, to ether with related interest and service char es, are a able g P Y solely from the operations of the Public Utilities Fund and are not a general obligation of the City. The resolution authorizing and dir- ecting the issuance of these bonds contain covenants and restrictions enacted for the purpose of protecting the bondholders' interest. Paragraph 8 of the resolution provides for the segregation of assets and the appropriation of retained earnings for debt retirement pur- poses and defines the manner of accounting for the activities of the Public Utilities Fund. As required by Paragraph 10e of the issuing resalution, an analysis of each account balance appears as follows: Construction Account Proceeds of bond sale $1, 000, 000 A dd: Investment earnings through 1980 357, 918 1981 Investment earnings 9, 15? Total Investment Earnings 367, 075 Deduct: Construction expenditures through 1980 $1, 274, 936 Total construction expenditures -0- Total Construction Expenditures $1, 274, 936 Construction Account Balance 92, 139 -33- C ity of Brooklyn Center NOTES TO FINANCIAL STATEMENTS December 31, 1981 Note 3: Public Utilities Fund -(continued) Debt Retirement A ccount Accumulated amounts set aside to meet 1982 requirements for interest and principal: Investments with accrued interest 60, 280 Reserve account investments 75, OOD otal Debt Retirement A ccount 13 5 280 T A summary which reconciles restricted assets with earnings and also compares appropriated earnings with restriction require- ments as set forth by the resolution authorizing the sale of revenue bonds is presented as follows: R eve nue Construction Bond Reserve A ccount A ccount A ccount Restricted Assets 12/31/1980 92, 139 60, 280 75, 000 Appropriated Earnings at 12/31/1980 92, 139 60, 280 75, 000 L All bonds which mature on January 1, 1982 or thereafter are subject to redemption (call) on January 1, 1974, or any interest pay- ment due thereafter in inverse-numerical order at par and accrued interest and premium as follows: If redeemed January 1, 1981, or thereafter no premium. Since 1963 the Public Utilities Fund has been accumulatin g cash for the purpose of improving the water supply system for the residents of the City. Present plans for expa.nsion include capital outlays of $2, 360, 000 for new wells and distribution system improve- ments; $2, 500, 000 for the construction of a 2 2 million gallon ground storage reservoir system; and an additional $12, 500, 000 if a water treatment plant is added. To date $3, 700, 000 has been accumulated and set aside for partially meeting the financial requirements for the planned expansion. -34- C ity of Brooklyn Center NOTES TO FINANCIAL STATEMENTS December 31, 1981 Note 3; Public Utilities Fund -(continued) Since the inception of the system, the Public Utilities Fund has also been accumulating cash for the purpose of improv- ing the sanitary sewer system which serves the residents of the City. Present pla.ns include capital outlays of $350, 000 for Lift Station improvements including installa.tion of alaxm systems and standby power installations. An "Infiltration and Inflow" analysis study was intiated in 1981 and will be completed in 1982. It is anticipated that this study will include recommendations for the correction of defective segments of the sanitary sewer system. In addition, the City plans to purchase new sewer cleaning equip- ment during 1982-83 at an estimated cost of $120, 000. To date, $300, 000 has been accumulated and set aside for partially meeting the financial requirements for these planned i.mprovements. Note 4: Public Utilities Fund Metro Waste Control Commission Receivables and Reserves Pursuant to enacted legisla.tion (Metropolitan Sewer Act Chap�er 449 Session Laws) the Metropolitan Waste Control Comm- ission as of January 1, 1971, assumed ownership of all existing interceptors and treatment works needed to impleme nt a compre- hensive plan for the collection, treatment, and disposal of sew- age in the seven county metropolitan area. Under the terms of the Act, the Commission is obligated to reimburse each local government for the cost of facilities acquired. This cost or purchase price of facilities is based on depreciated replacement cost value as of December 31, 1970 as determined by cost analysis and engineering studie�. This current value receiv- able is to be paid by the Metropolitan Waste Control Commission over a period of 30 years and the amount will earn interest at an annual rate of 4%. The method of payment will be by right of offset. The City will apply each annual installment against sewer service charges as billed by the Metropolitan Waste Control Commission annually. The installrn.ent credit for 1981 consisted of principal and interest and the amount of credit offset against 198Q sewer service billings totaled $8, 866, leaving a balance due over the next 20 years of $237, 376, as adjusted by the M. W. C. C. -35- �i, City of Brooklyn Center NOTES TO FINANCIAL STATEMENTS December 31, 1981 Note 5: Special Assessment Funds Special assessments which related to improvements benefit- ing City-owned properties total $177, 960 as of December 31, 1981. 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 under normal budget procedures, whereby the needed monies will be appropriated during the years as each installment becomes due. Note 6: Pension Plans and Pension Funds The City participates in two pension plans as follows: 1. All C ity employees, with the exception of volunteer firemen, who has a separate plan, are covered by the Public Employees' Retirement Plan. This plan is admin- istered 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°Jo to 12% ($197, 776 for 1981) of its employees' salaries to this plan, and part of that contribution covers previously unfunded amounts. The City contributed $107, 532 for 1981 to the Public Employees' Retirement Plan for FICA. Actuarial Valuations of Plan Benefits are as follows: (Per PERA report of 6/30/81) a. Minnesota Statutes, Section 356.215, Subd. 4, provides that actuarial valuations of plan benefits shall be computed in accordance with the entry age normal cost (1eve1 normal cost) method. In the calculation of normal cost and accrued liabilities of the benefit plan, the actuary uses a 5 percent interest rate assumption and assumes an annual growth rate of 3 2 percent in member's salary. -36- C ity of Brooklyn Center NOTES TO FINANCIAL STATEMENTS December 31, 1981 ntinued Note 6. Penston Plans and Pension Funds (co b. The unfunded accrued li�abilities of $333, 797, 731 in the Public Employees' Retirement Fund and $13, 038, 068 in the Police and Fire Fund as of June 30, 1981, are the amounts by which 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 1 additional annual contribution which would be required to retire the current unfunded accrued liability by June 30, 2009. PERA is a state-wide cantributory retirement plan for which an individual City's portion of the unfunded liability is not available because not city is directly liable for any unfunded liability under M innesota law c. Pension benefits are feznded 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 Ernployees Retirement Fund must participate in the Coordinated Plan. Current contribution rates for the funds are as follows: Unfunded Additional Employee Employer Employer Public Employees Retirement Fund: Basic Plan 8% 8% 2 2% Coordinated Plan 4% 4% 1 z% P o l i c e a n d F L r e F u n d 8% 1 2% -3?- �r�rou u�srvs sr �ovscs� sviuc s�os.or:si tsnu�asi aasacuao: asovus rora LmpbM �n�DUUOn Lmi!lepw OonviDuuon C lnr�vo�nc L�oom� iE t2R 02�k sow 3�.e�.e av A A b� OS4 w c a� �ew. 3Y YI� t9 JD^E f0�b OE�b jb E7�6' e7VE A n Y� 5R B Pl B lor iv�►e irro �oao ioei iaoo 1.00o sosuc =�o3.oT::� unuxs�rs ataonaao■ asovs.�a rwra �oo �oo �oo g o 0 o g o o n a s r e s s E o u�n ina iv�ro ioso iaei irn ias� isso :aso ioei =aru. u�sis -38- soues a�a sns rQSa 1IIii�t lIOLOTLiI LilS�Z11i!! ►ifOG�aO� u=oa3. as�s�s st �ovae�s� smalo7r oona+a+me 1 Laoto�M OdiatOuuon C IA�wtmml I �G �94 �0� �1 �9q K TJ�► ia O6�► s� osw aa s�w ss oew e I b0 S64 fE I w 1 T s as :e•e �o Ye� s D io+► 1 i ia+e i�►o iqea i�ei 797LC f10LOTii! 12Tt1SfQIR �LOC11lSOf sovcs ua ras svra 1�0 160 Ltb 100 73� g g g� g �0-- 8 8 8 8 8 i io a o s �i, 8 w ia�n ia►e irrv iaw� ioei iwn iv�e ioTV ioeb ioai io'ras. vxtaxam aaasn t -39- C ity of Brooklyn Center NOTES TO FINANCIAL STATEMENTS December 31, 1981 Note 6: Pension Plans and Pension Funds -(continued) 1 2. The City contributes to the Brooklyn Center Fire- men's Relief A ssociation, an independently administered r retirement plan for the City's volunteer firemen. The benefits of this plan are established by the Minnesota Legislature and the financing of the plan is provided for by a state tax on fire insurance premiums and the City's ad valorem tax. Acturial studies of retirement needs are made periodically to determine the contributions to the Association. According to a study dated December 31, 1980, the Association had an unfunded accrued liability of $404, 597. In order to maintain the current level of benefits, annual payments of $69, 904 are required to pay current benefits and retire the unfunded liability in 20 years. Currently no ad valorem tax is necessary. Note 7; Investment Trust The Investment Trust was established in 1965 by Council action to provide a uniform and consistent method of investing temporary surpluses of cash. Net income of the Trust is distributed annually to each of the participating funds on the basis of the average yearly investment maintained by each fund. The net income and the effective rate of return on average invest- ment by participating funds is shown below by years. Rate of Net Year Return Income 1981 11. 05�J $1, 622, 451 1980 8. 87�/0 1, 156, 460 1979 8.45afo 978, 180 1978 66�fo ?66, 349 1977 7. 11°Jo 637, 855 1976 6. 86ajo 592, 363 1975 7. 15°�0 554, 696 1974 7. 66Qfo 503, 710 1973 6. 63% 391, 221 1956-1972 2. 77�fo-6. 66�fo 1, 728, 379 Total Distributed Earnings 1956 1981 $8, 931, 664 -4 0 City of Brooklyn Center NOTES TO FINANCIAL STATEMENTS December 3Z, 1981 Note 8; A gency Funds The Brooklyn Center Housing and Redevelopment Authority is a separate entity from the City. The City receives an ad valorem tax which is remitted to the Authority. Note 9; Interfund Receivables and Payables Individual interfund receivable and payable balances at December 31, 1981 were as follows: Inter-Fund Inter-Fund Fund Receivables Payables General Fund 621, 914 125, 601 Federal Revenue Sharing Fund 371, 316 Diseased Tree Removal Fund 54 3, 785 Lawcon Fund 328, 157 Capital Projects Fund 564, 002 104, 902 Community Development Block Grant Fund 241, 292 Municipal State Aid for Construction Fund 189, 271 262, 892 Special Assessments Funds 401, 280 268, 449 Municipal Liquor Fund 120 2, 739 Public Utilities Fund 43, 344 Debt Service 24, 164 $1, 776, 641 $1, 776, 641 Note 10: Special Revenue Funds Federal Revenue Sharing grants for the year ended Decem- ber 31, 1981, by the entitlement period are as follows: Entitlement Period/Quarter Amount 12 2, 3, 4 $154, 261 13 1 50, 414 Total 204 675 -41- City of Brooklyn Center NOTES TO FINANCIAL STATEMENTS December 31, 1981 Note 11: Contingent Liabilities The City participates in a number of federally assisted grant programs, prineipal of which are the General Revenue Sharing, Community Development Block Grant, Comprehensive Employment Training Act, and Local Public Works programs. These programs are subject to program compliance audits by the grantors or their representatives. The audits of these pro- grams for or including the year ended December 31, 1981 have not yet been conducted. A ccordingly, the City's compliance with applicable grant requirements will be established at some future date. The amount, if any, of expenditures which may be dis- allowed by the granting agencies cannot be determined at this time although the City expects such amounts, if any, not to be material. t Note 12; Changes in Fixed Assets General Fixed Assets Balance Balance January 1, December 31, 1981 AcquisitLOns Disposals 1981 Land 568, 462 428, 025 996, 487 Buildings 3, 138, 680 611, 701 3, 750, 381 Park properties 2, 559, 301 94, 273 2, 653, 574 Furniture 356, 363 16, 235 372, 598 Departmental equipment l, 972, 471 207, 981 31, 485 2, 148, 967 Storm sewers and streets 10, 868, 360 1, 204, 108 12, 072, 468 Total General Fixed Assets $19, 463, 637 $2, 562, 323 31, 485 $21, 994, 475 Utility Plant in Service Balance Transfers Balance January 1, and December 31, 1981 Additions Disposals 1981 Water Depart- ment 1 Mains and lines $5, 738, 887 $155, 855 5, 894, 742 Structures 1, 339, 721 24, 024 1, 363, 745 Equipment 247, 891 20, 584 $134, 23? 134, 238 Land 24, 816 24, 816 Total Water Department 7, 351, 315 $200, 463 $134, 237 417, 541 -42- City of Brooklyn Center NOTES TO FINANCIAL STATEMENTS December 31, 1981 1Vote 12; Changes in Fixed Assets -(continued) Utility Plant in Service Balance Transfers Balance January 1, and December 31, 1981 Additions Disposals 1981 Sewer Depart- ment Mains and lines $4, 846, 358 23; 903 4, 870, 261 Structures 574, 360 144, 206 718, 566 Equipment 134, 237 134, 23? i Land Total Sewer Department 5, 420, 718 $302, 346 5, 723, 064 C onstruction in Progress 10, 096 77, 123 87, 219 Totals $12, 782, 129 $579, 932 $134, 237 $13, 227, 824 Liquor Fund Fixed Assets Balance Balance January 1, December 31, 1981 A dditions Disposals 1981 Land 5, 898 5, 898 Equipment 111, 524 23, 731 135, 255 Leasehold 28, 799 27, 398 56, 197 Totals 146, 221 51, 129 197, 350 Note 13: Schedule of Long-Term Debt to Maturity (Including Interest) General Special Obli.gation Assessments Revenue Year Total Bonds Bonds Bonds 1982 941, 292 419, 100 463, 472 58, 720 1983 937, 055 450, 230 429, 665 57, 160 1984 1, 021, 119 448, 990 516, 529 55, 600 1985 772, 881 431, 565 282, 325 58, 991 1986 639, 130 428, 660 153, 185 57, 285 1987 611, 460 419, 585 136, 345 55, 530 1988 588, 525 419, 680 115, 070 53, 775 -43- City of Brooklyn Center NOTES TO FIlVANCIAL STATEMENTS December 31, 1981 Note 13: Schedule of Long-Term Debt to Maturity (Including Interest) {continued) General Specia.l Obligation Assessments Revenue Year Total Bonds Bonds Bonds c ont inue d) 1989 550, 145 408, 795 89, 330 52, 020 1990 372, 270 257, 175 64, 830 50, 265 1991 508, 575 398, 445 61, 620 48, 510 1992 381, 565 334, 810 46, 755 1993 321, ?80 321, 780 Totals $7, 645, ?97 $4, 738, 815 $2, 312, 371 594, 611 Note 14: Additional Segment Information Public Municipal Utilities Liquor Fund Fund Total Net working capital $2, 286, 033 163, 539 $2, 449, 572 Total equity 6, 487, 293 240, 874 6, ?28, 167 Current capital contri- bution 57, 512 57, 512 -44- City of Brooklyn Center NOTES TO FINANCIAL STATEMENTS December 31, 1981 Note 15: Industrial Development Revenue (IDR) Bonds Industrial Development Revenue Bonds are payable solely from payments derived from a revenue agreement between the C ity, as obligee, and a contracting party, as obligor, and are not obligations of the issuing municipa.lity within the meaning of any constitutional or statutory provision, do not give rise to any pecuniary liability of the City or its officers, and are not a charge against the City's general credit and/or taxing powers. i The City of Brooklyn Center has issued the following Industrial Development Revenue Bonds: Company Year Issued Amount 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, 200, 000 S& S Real Estate (Swenson's Carraige 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 Cornpany 1982 2, 172, 150 The following Industrial Development Revenue Bonds have been approved, but not yet issued: Ryan Construction Co. (Byerly's) $10, 000, 000 Brookdale Cor orate enter 970, 000 P C II -45- THE GENERAL FUND The General Fund accounts for all revenues and expenditures of a govern- mental unit which are not accounted for in other funds, and it is usually the largest and most important accounting acitivity for state and locai governments. It normally receives a greater variety and number of taxes and other general revenues than any other fund. This fund has flowing into it such revenues as general property taxes, licenses and permits, fines and penalties, rents, charges for current services, state-shared taxes, and interest earnings. The fund's resources alsu finance a wider range of activities than any other fund. Most of the current operations of governmental units will be financed from this fund. City of Brooklyn Center Exhibit 7 General Fund COMPARATIVE BALANCE SHEET December 31, 1981 and 1980 1981 1980 A SSETS Cash 42, 102 475 Temporary investments 1, 804, 784 2, 682, 686 Taxes receivable 200, ?71 114, 653 Accounts receivable 14, 14? Less: Estimated uncollectible account 5, 652 8, 495 14, 077 Due from other funds 621, 914 88, 249 Due from other governments (less: Reserve $8, 875 in 1981) 638, 182 74, 914 Inventory of supplies 61, 381 48, 578 Prepaid insurance 77, 352 4, 125 'z'otal Assets $3, 454, 981 $3, 027, 757 I LIABILITIES AND FUND BALANCE Liabilities Vouchers payable 100, 413 122, 616 Due to other funds 125, 601 133, 500 A ccrued salaries payable 101, 627 125, 614 Total Liabilities 327, 641 381, 730 Fund Balance Reserve for encumbrances 4, 924 19, 171 Unreserved fund balance 3, 122, 416 2, 626, 856 Total Fund Balance $3, 127, 340 $2, 646, 027 Total Liabilities and Fund Balance $3, 454, 981 $3, 027, ?57 (See notes to financial statements) This statement is an inte ral part of report dated May 26, 1982. g -46- City of Brooklyn Center Exhibit 8 General Fund STATEMENT OF REVENUES, EXPENDITURES AND CHANGE IN FUND BALANCE ACTUAL (GAAP BASIS) AND COMPARISON OF AUDGETARY BASIS TO BUDGET (NON-GAAP) For the Year 1981 With 1980 Actual (GAAP F3asis) for Comparison of Actual Year 1981 Adjustment to Audgetary Basis Actual Budgetary Budgetar,y Over (Under) 1980 Actual (GAAP Basis) Basis Basis Budget Budget (GAAP Basis) Revenue r1d valorem taxes $1, 655, 642 $1, 655, 642 $1, 670, 631 14, 989) $1, 593, 709 License and permits 207, 100 207, 100 190, 000 17, 100 195, 931 Inter-governmental revenue 2, 340, 201 2. 340, 201 2, 367, 253 27, 052) 2, 091, 433 Charges for services 728, 828 728, 828 612, 930 115, 898 451, 688 Court fines 111, 596 111, 596 92, 000 19, 596 111, 382 Miscellaneous 236, 931 236, 931 35, 865 201, O66 300, 338 Total Revenue $5, 280, 298 -0- $5, 280, 298 y4, 968, 679 $311, 619 �4, 744, 481 Expenditures General government 910, 131 745 910, 876 967, 533 56, 657 839, 307 Public safety 1, 588, 149 1, 859 1, 590, 008 1, 691, 954 101, 946 1, 442, 619 Streets and highways 1, 176, 447 1, 511 1, 177, 958 1, 318, 810 140, 852 1, 103, 166 Community health services 39, 385 39, 385 43, 000 3, 615 37, 336 Parks and recreation 1, 162, 898 673 1, 163, 551 1, 276, 290 112, 739 917, 224 N Total Expenditures $4, 876, 990 4, 788 $4, 881, 778 $5, 297, 587 $415. 809 u4. 339, 652 i Excess (Deficiency) of Revenue Over Expenditures 403, 308 4, 788) 3�J8, 520 328, 908) $727, 428 404, 829 Other Financing Sources (Uses) Appropriated General F1and fund balance 92, 34'L 92, 342 92. 342 -0- Operating transfers in 544, 965 544, 965 587, 070 42, 105) 434, 243 Insurance and other unallocated expenditures 197, 790) 136) 197, 926) 350, 504) 152, 578 241, 256) Transfer to Capital Projects Fund 250, 000) 250, 000) (250, 0001 490, OOC) Total Other Financing Sources (Uses) 97, 175 92, 206 189, 381 328, 908 g(139, 527) 297, 013) Excess (Deficiency) of Revenues and Other Sources Over Expenditures and Other (Uses) 500, 483 87, 41II 587, 901 -0- $587, 901 107, 816 Fund Balance at Beginning of Year 2, 646, 027 2, 646, 027 2, 646. 027 -0- 2, 75g, 631 Fund Balance appropriated to budget 92, 342) �2, 342) 92, 342) -0- Decrease in reserve for encumbrances 19, 170) 4, 924 14, 246) -0- 14, 246) 220, 420) Fund Balance at End of Year $3, 127, 340 -0- $3, 127, 340 $2, 553, 685 _$573, 655 $2, 646, 027 (See notes to financial staternents) This statement is an integral part of re�ort dated Ma,y 26, 1982. City of Brooklyn Center Exhibit 9 General Fund STATEMENT OF REVENUE BUDGET AND ACTUAL OBJECTIVE CLASSIFICATION For the Year 1981 With Comparative Actual for the Year 1980 1981 A ctual Over 1980 A ctual Budget (Under) Budget A ctual A d Valorem Taxes Real estate taxes $1, 620, 631 $1, 620, 631 -0- $1, 527, 697 Penalties and interest 35, O11 50, 000 14, 989) 66, 012 Total A d Valorem Taxes $1, 655, 642 $1, 670, 631 14, 989) $1, 593, 709 Licenses and Permits Liquor and beer 66, 421 58, 600 7, 821 54, 110 Building permits 60, 311 51, 000 9, 311 45, 8 93 Mechanical permits 17, 121 22, 000 4, 879) 28, Q66 Electrical permits il, 660 11, OOD 660 14, 782 Food licenses 11, 377 11, 000 377 11, 223 Plumbing permits 8, 478 10, 000 1, 522) 8, 833 Rental dwelling licenses 8, 213 7, 200 1, 013 10, 681 Sewer and water permits 4, 200 2; 500 1, 700 2, 527 Dog licenses 4, 285 3, 500 785 3, 826 Swimming pool licenses 2, 869 2, 700 169 2, 773 Service station licenses 1, 540 1, 400 140 2, 159 Mechanical licenses 2, 251 2, 000 251 2, 715 Miscellaneous business licenses 2, 382 1, 000 1, 382 2, 655 Garbage licenses 1, 290 1, 300 10) 1, 260 Vehicle dealer licenses 922 1, 000 78) 900 Cigarette licenses 728 1, 100 372) 1, 053 Sign permits 1, 218 5Q0 718 259 Taxicab licenses 50 500 450) 450 Bowling alley licenses 700 700 600 Lodge establishments 489 400 89 537 All other licenses and per- mits 595 600 5) 629 Total Licenses and Permits 207, 100 190, 000 17, 100 195, 931 Court Fines Costs and fees 111, 596 92, ODO 19, 596 111, 382 Intergovernmental Revenue Federal grants: Civil defense 10, 063 15, 000 4, 937) 10, 149 Total Federal Grants 10, 063 15, 000 4, 93?) 10, I49 -48- I City of Brooklyn Center Exhibit 9 General Fund (continued) STATEMENT OF REVENUE BUDGET AND ACTUAL OBJECTIVE CLASSIFICATION For the Year 1981 VVith Comparative Actual for the Year 1980 1981 A ctual Over 1980 Actual Budget (Under) Budget Actual Intergovernmental Revenue cont inued) State grants: Shade Tree Disease Control 3, 785 27, 000 23, 215) 14, 560 Bureau of Criminal A pprehens ion 181 181 570 Other grants 6, 256 Total State Grants 3, 966 27, 000 23, 034) 21, 386 State shared taxes: Local government aid $1, 502, 899 $1, 501, 974 925 $1, 393, 909 Homestead credit aid 735, 216 ?35, 216 594, 509 Reduced assessment aid 11, 563 11, 563 Fixed machinery tax replacement 926 1, 500 574) 1, 442 Police pension aid 75, 568 ?5, 000 568 70, 038 Total State Shared Taxes $2, 326, 172 $2, 325, 253 919 $2, 059, 898 Total Intergovern- mental Revenue $2, 340, 201 $2, 367, 253 27, 052) $2, 091, 433 Charges for Services Inter-fund charges administration: Public Utility Fund 86, �96 88, Ofl0 1, 904) 80, 340 Other Funds 29, 360 30, 000 640) 25, 838 Engineering and Clerical: Special Assessment Fund and Public Utility Fund 137, 441 40, 000 97, 441 45, 168 General government charges 24, 431 17, 500 6, 931 26, 622 Public safety charges 8, 555 6, 120 2, 435 6, 735 Recreation fees 442, 640 429, 095 13, 545 371, 358 Other services 305 2, 215 1, 910) 255 Total Charges for Services 728, 828 612, 930 $115, 898 556, 316 -49- City of Brooklyn Center Exhibit 9 General Fund (continued) STATEMENT OF REVENUE BUDGET AND ACTUAL OBJECTIVE CLASSIFICATION For the Year 1981 With Comparative Actual for the Year 1980 1981 A ctual Over 1980 A ctual Budget (Under) Budget A ctual Miscellaneous Revenue Rent 16, 350 9, 000 7, 350 17, 883 Interest earned on invest- ments 185, 182 20, 000 165, 182 170, 799 Other 35, 399 6, 865 28, 534 7, 028 Tota1 Miscellaneous Revenue 236, 931 35, 865 $201, 066 195, 710 Other Sources Transfers from other funds Federal Revenue Shar- ing Fund 371, 318 402, 070 30, 752� 256, ?22 Liquor Fund 125, 000 125, 000 125, 000 Fire Relief A ssooiation Fund 48, 647 60, 000 11, 353) 52, 521 Total Other Sources 544, 965 587, 070 42, 105) 434, 243 Total Revenue and Other Sources $5, 825, 263 $5, 555, �49 $269, 514 $5, 178, 724 (See notes to financial statements) This statement is an integral part of report dated May 26, 1982. -50- City of Brooklyn Center Exhibit 10 General Fund STATEMENT OF BUDGETARY- BASIS EXPENDITURES AND BUDGET CLASSIFIED AS TO ACTIVITY CHARACTER AND OBJECT For the Year Ended December 31, 1981 With ('omparative Expenditures for S'ear 1980 1 9 8 1 1981 Expenditures Encumbrances Classified by Character Object 1980 Expenditures Over (Under) Personal Contracted Capital Expenditures B Encumbrances Bud�et Budget Services Services Commodities Other Outlays Encumbrsnces General Government Mayor a�d council 59, 325 S4, 901 5, 576 18, 024 41, 301 42, 174 Charter commission 670 1, 500 830 138 532 198 Administrative office 202, 391 230, 732 28, 341 153, 197 17, 557 1, 275 362 176, 716 Elections and voter registration 8, 387 9, 268 881 4, 634 3, 753 12, 443 A ssessor's ofFice 116, 157 120, 482 4, 325 108, 364 4, 591 1, 741 1, 461 104, 763 Accounting and internal audit I63, 660 270, 792 7, 132 162, 091 114 382 1, 073 147, 362 Independent audit 19, 470 19, 470 19, 470 18, 514 Legal 71, 387 72, 450 i, OE3 70, 098 1, 027 262 100, 995 General government buildings 269. 429 277, 938 8, 5C9 138, 615 63, 209 21, 549 46, 056 237, 146 Total General Government 910. 876 967, 533 56, 657 615, 063 220, 093 24, 849 1, 919 48, 952 840, 311 Public Safety �I Police protection $1, 244, 603 $1, 308, 141 63, 538 $1, 127, 349 11, 384 14, 152 43, 128 48. 590 $1, 070, 520 Fire protection 164, 188 183, 207 19, 019 111, 197 6, 514 9, 444 8, 229 28, 804 197; 241 Protective inspection 142, 809 149, 610 6, 801 136, 009 5, 018 612 470 700 140, 267 I Emergency preparedness 28, 056 36, 99B 8, 940 23, 992 3, 228 54 30 752 27, 584 Animal control 10, 352 14, 000 3, 648 10, 352 10, 520 Total Public Safety $1, 590, 008 $1, 691, 954 101, 946 $1, 398, 547 36, 496 24, 262 51, 857 78, 846 $1, 446, 132 Public Works Engineering department 265, 240 302, 297 37, 057 242, 101 g 1, 115 3, 930 563 17, 531 276, 884 Street department 522, 380 590, 676 68, 296 315, 871 69 136, 888 39 69, 513 481, 570 Maintenance shop 271, 541 305, 787 34, 246 96, 424 27, 432 145, 703 1, 982 246, 346 Street, lights, traffic signals and weed control 118, 797 120, 050 i, 253 118, 665 132 98, 534 Total Public Works $1, 177, 958 $1, 318, 810 140, 852 654, 396 147, 281 286, 653 60Z 89, 026 $1, 103, 334 Community Health Services Health regtalation 23, 385 27, 000 3, 615 23, 385 4 30,895 Detached worker program 16, 000 16, 000 16, 000 12, 826 Total Community Health Services 39, 385 43, p00 3, 615 g 39, 385 g -0- -p -0- -0- 43, 521 �i City of Brooklyn Center Exhibit 10 General Fund (continued) STATEMENT OF BUDGETARY BASI5 EXPENDITURES AND BUDGET CLASSIFIED AS TO ACTIVITY CHARACTER AND OBJECT For the Year Ended December 31, 1981 With Comparative Expenditures for Year 1980 1 9 8 1 1981 Expenditures Encumbrances Classified by Character Object 1980 Expenditures Over (Under) Personal Contracted Capital Expenditures 8 Encumbrances Budget Budget Services Services Commodities Other Outlays Encumbrances Parks and Recreation Supervision and recreation 153, 545 169, 909 i6, 364) 135, 109 13, 452 2. 975 507 1, 502 145, 448 Adult programs 92, 296 95, 305 3, 009) 3, 454 68, 884 19, 958 89, 755 Teen programs 4, 516 5, 960 1, 444) 2. 792 1, 513 211 6, 696 Children programs 46, 270 51, 035 4, 765) 19, 559 19, 475 7. 236 47, 467 General programs 61, 884 63, 705 1, 821) 29, 954 29, 060 2. 870 48, 207 Community center 373, 200 388, 945 15, 749! 151, 381 71, 302 28, 151 28. 489 93, 877 282, 383 Park maintenance and improvements 431, 840 501, 431 69, 591) 271, 168 26, 139 41, 411 5, 649 87, 473 3C5, 356 Total Parks and Recreation $1, 163, 551 $1, 276, 290 112, 739) 613, 417 229, 825 102, 812 34, 645 182, 852 925. 312 Sub-total $4, 881, 778 $5, 297, 587 415, 809) $3, 320, 808 633, 695 438, 576 89, 023 399, 676 $4, 358, 610 Miscellaneous Expenditures not allocated to depart- ments 197, 926 350, 504 152, 5 r8) 48, 455 102, 353 18, 194 18, 463 c 10, 461 241, 469 Total Miscellaneous 197, 926 350, 504 152, 578) 48, 455 102, 353 18, 194 18, 463 10, 461 241, 469 Tota $5, 079, 704 $5, 648, 091 568, 387) $3, 369, 263 736, 048 456, 770 Q 107, 486 410, 137 g4, 600, 079 N 1 (See notes to financial statements) This statement is an integral part of report dated May 'L6, 1982. I I SPECIAL REVENUE FUNDS SPECIAL REVENUE FUNDS Special Revenue Funds are used to account for revenues derived from specific taxes or other earmarked revenue sources. They are usually re- quired by statute, charter provision, or local ordinance to finance parti- cular functions or activities of government. u u u 0 u c u City of Brooklyn Center Exhibit 11 Special Revenue Funds COMBINING BALANCE SHEET December 31, 1981 With Comparative Totals for Decernber 31, 198Q Public Federal Anti-Recession Employees Diseased Revenue Sharing Fiscal Aid Retirement Tree Removal Totals Fund Fund Fund Fund 1981 1980 ASSETS Temporary investments $688, 244 2, 024 $498, 963 9, 357) $1, 179, 874 905, 417 Accounts receivable 3, 523 3, 523 2. 149 Accrued interest 2.083 2. 083 2, 631 Taxes receivable: Special assessments 7, 949 7, 949 7, 695 Ad Valorem 3, 235 161 3, 396 4, 429 Due from other funds 54 54 5,670 Due from other governments 50, 414 7, 063 57, 477 57, 990 Total Assets $738, 658 2, 024 $504, 281 9, 393 $1, 254, 356 985, 981 LIABILITIES AND FUND BALANCE Liabilities Vouchers payable 13 Contraets payable 11, 118 Due to otherfunds $371,316 3,785 375,101 35,342 Total Liabilities $371, 316 -0- -0- 3, 785 375, 101 46, 473 Fund Balances Reserved for future contributions $504, 281 504, 281 182, 268 Unreserved $367,342 2,024 5,608 374,974 757,240 Total Fund Balances $367, 342 2, 024 $504, 281 5, 608 879, 255 939, 508 Tota1 Liabilities and Fund Balance $738, 658 2, 024 $504, 281 9, 393 $1, 254, 356 985, 981 I (See notes to financial statements) This statement is an integral part of report dated Ma,y 26, 198'L. City of Brooklyn Center Exhibit 12 Special Revenue Funds COMBIlVING STATEMENT OF REVENUES, EXPENDITITRES AND CHANGES IN FUND BALANCES Year Ended December 31, 1981 With Comparative Total For Year 1980 Public Federal Anti-Recession Emplo,yees Diseased Revenue Sharing Fiscal Aid Retirement Tree Removal Totals Fund Fund Fund Fund 1981 1980 Intergovernmental Revenue Federal grants: Federal Revenue Sharing $204,675 204,675 214,579 State grants: Department of Agriculture 7, 063 7, 063 31, 734 Total Intergovernmental Revenue $204, 675 -0- -0- 7, 063 211, 738 246, 313 Charges for Services Diseased tree removal fees 23, 238 23, 238 17, 494 Administrative charges 1, 860 1, 860 1, 550 Total Charges for Services $"l5, 098 25, 098 19, 044 Miscellaneous Revenue Interest on investments 62,592 201 45,391 648 108,832 84,818 Special assessments ordered 3,222 3,222 6,279 Refunds 7, 244 7, 244 Total Miscellaneous Revenue 62, 592 201 52, 635 3, 870 119, 298 91, 097 Total Revenue $267,267 201 52,635 36,031 356,134 356,454 Expenditures Contracted services 91 39, 664 39, 755 36, 250 Refunds 32 32 13, 970 Other 53 744 797 222 Total Expenditures 53 835 39, 696 40, 584 50, 442 Excess (Deficit) of Revenue Over Expenditures $267, 214 201 51, 800 3, 665) 315, 550 306, 012 Other Financing Sources (Uses) Transfers to General Fund (371,318) 4,485) 375,803) 256,7211 Excess (Deficit) of Revenues Over Expenditures and Other Uses $(104, lA4) 201 51, 800 8, 150) 60, 253) 49, 291 Fund Balances, Januar,y 1 471, 446 1, $23 452, 481 13, 758 �39, 508 890, 217 Fund Balances December 31 $367, 342 2, 024 $504, 281 5, 608 879, 255 939, 508 Reserved for Future Contributions $504,281 504,281 634,749 Unreserved $367,342 2,024 5,608 374,�J74 304,75P (See notes to financial statem ents) This statement is an integral part of report dated Ma,y 'l6, 1�82. DEBT SERVICE FUNDS DEBT SERVICE FUNDS Debt Service Funds are created to account for the payment 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 a governmental enterprise. City of Brooklyn Center Exhibit 13 DebtService Funds i COMBiNING BILANCE SHEET December 31, 1981 With Comparative Totals for December 31, 1980 State Aid Improvement Park Bonds i Park Library Street Building of Totals Bonds Bonds Bonds Bonds 1980 1981 1980 ASSETS Temporary investments $125, 085 78, 929 23, 784 $192, 846 47, 961 $468, 605 $388, 563 Taxes recetvable 1, 008 20, 754 7, 798 29, 560 15, 165 I Due from other governments 18, 878 15, 222 34, 100 Total Assets $126, 093 78,929 23, 784 $232, 478 70, 981 $532, 265 $403, 728 I LIABILITIES AND FUND BALANCE Due to other funds 380 23, ?84 24, 164 Fund Balance $126, 093 78, 549 $232, 478 70, 981 508, 101 $403, 728 Total Liabilities and Fund Balances $126, 093 78, 929 23, 784 $232, 478 70, 981_ $532, 265 $403, 728 I 'I i I (See notes to financial statements) This statement is an integral part of report dated May 26, 1982. I City of Brooklyn Center Exhibit 14 Debt Service Funds COMBINING STATEMENT OF RP'VENUES, EXPENDITURES AND CHANGES IN FUND BALANCES Year Ended December 31, 1981 With Comparative Totals For Year Ended December 31, 1980 State Aid Improcement Park Bonds Park Library Street Building of Totals Bonds Bonds Ronds Bonds I980 I98I 1980 Revenues General property taxes $209,600 $169,010 $378,610 $228,755 Interest on investments 13, 333 8, 952 22, 838 45, 123 40, 324 Total Revenue 13,333 8,952 0 $232,438 $169,010 $423,733 $269,079 Expenditures Principal payments 10, 000 55, 000 $120, 000 $185, 000 $195, 000 Interest paid 1,900 41,108 79,625 $104,152 226,785 134,211 Fiscalagentfees 22 67 235 45 369 517 I Other 607 607 2,411 Total Expenditures -0- 11,922 96,175 $199,860 $104,804 $412,761 $332,139 Excess ;Deficit) of Revenues Over Expenditures 13, 333 2, 970) 96, 175) 32, 578 64, 206 10, 972 63, O60) m Other Financing Sources (IIses) Permanent transfer from Municipal State A id �und 93, 401 93, 401 103, 317 Excess (Deficit) of Revenue and Other Sources Over Expenditures A nd Other Uses 13,333 2,970) 2,774) 32,578 64,206 $104,373 40,257 Fund galance, January 1 112,760 81,519 2,774 199,�00 6,775 403,728 363,471 Fund galarice, December 31 $126, 093 78, 549 -0- $232, 478 g 70, 981 $508,101 �403,728 (See hotes to financial statements) This statement is an integral part of report dated May 36, 1082. CAPITAL PROJECTS FUNOS CAPITAL PROJECTS FUNDS Captial Projects Funds are created to account for all resources used for the acquisition of capital facilities by a governmental unit except those �nan- ced by special assessment and enterprise funds. City of Brooklyn Center Exhibit 15 Capital Projects Funds COMSINING BALANCE SHEET December 31, 1981 With Comparative Totals for December 31, 1980 Open-Space Capital Community Municipal Lawcon Acquisifion Projects Development State Aid for Totals Fund Fund P'und T31ock Grant Construction 1981 1980 A SSE TS Temporary investments 55, 77] 2, 336 $1, 354, 339 1, 491 $2, 083, 340 $3, 497, 277 $3, 379, '�78 Due from other funds 564, 002 189, 271 753, 273 1, 088, 566 Due from other governments 328, 157 658, 406 415, 240 1, 401, 803 816, 774 Total Assets $383, 928 2, 336 $1, 918, 341 $659, 897 $2, 687, 851 $5, 652, 353 $5, 285, 118 LIABILITIES AND FUND BALANCE L iab il it ie s Accounts payable 108 5, 052 5, 160 60, 018 Contracts payable 184. 656 4, 597 189, 253 526, 800 Due to other funds $328, 157 104, 902 241. 292 262, 892 937, 243 1, 178. 926 I Due to other governments 43, 790 91, 996 135, 786 48, 233 Total Liabilities $328, 157 -0- 289. 666 $290, 134 359, 485 $1, 267, 442 $1, 813, 977 l i l Fund Balance Unexpended appropriations �1, 074, 127 59, 773 176 $1, 134, 076 810, 840 Balance restricted to State-approved projects 309,990 1,183,518 1,493,508 1,283,864 j Unreserved balances 55, 771 2, 336 554, 548 i, 144, 672 1, 757, 327 1, 376, 437 Total Fund Balance 55, 771 $'l, 336 $1, 628, 675 $36�J, 763 ¢2, 328. 366 $4, 384, 911 $3, 471, 141 Total Liabilities and Fund Baiances $383, 928 2, 336 $1, 918, 341 $659, 897 $2, 687, 851 $5, 652, 353 $5, 285, 118 (See notes to financial statements) This statement is an integral part of report dated Ma,y 26, 1�82. City of iirooklyn Center Exhibit 16 Capit��i Projects Funds COMBINING STATEMENT OF REVrNUES, EXPENDITURES AND CHANGES IN FUND BALANCE Year Ended December 31, 1981 With Comparative Totals for Year Ended December 31, 1980 Open-Space Capital Community Municipal Lawcon Acquisition Projects Development State Aid for Totals Fund Fund I%und Rlock Grant Constr�ction 1981 1980 Revenues Intergovernmental: Federal gran[s 42, 500 $675, 174 21, 356 739, 030 366, 028 State shax'ed gasoline taxes 399, 714 399, 714 388, 211 State grants 34,000 34,000 234,135 interest on investments 35, 280 232 107, 841 1, 378 218, 239 362, 968 244, 736 Other 53, 790 7, 360 61, 150 Total Revenues $111,780 232 g 1fi1,631 $676,550 646,669 �1.596,862 $1,233,110 Expenditures Personal services 8. 565 .P, 8, 565 Q 74, 366 Commodities 66. 076 Contracted services 5, 172 5, 172 612, 901 Capital outlays g 124, 835 688, 365 1, 113, 200 2. 456, 201 Total Expenditures -0- -0- g 424, 835 13, 737 688, 365 $1. 126, 937 $3, 209, 544 ci� Excess of Revenues Over (Under) Expenditures $111, 780 232 �(263, 204) $662, 813 41, 696) 469, 925 $(1, 976, 434) m Other Financing Sources (Uaes) Transfer out State Aid Bonds Debt Service S( 55, 000) 55, 000) 76, 4671 Transfers to Capital Projects 76, 500) 76. 500 Transfers out Community Development Fund 221, 000 $(2'll, 000) Transfer in from other funds 250, 000 247, 345 497, 345 490, 000 Sale of Bonds 1, 500, 000 Sale of assets 11II, 000 118, 000 67, 100 Unexpended appropriations transferred to other funds 116, 500) I16, 5001 523, 4291 Total Other Financing $ources (Uses) 76, 500) -0- g 665, 500 $(337, 500) F 192, 345 443, 845 �1, 457, 204 Excess of Revenues Over (Under) Expenditures and Other Ftnancing Sources (Uses) 35,280 232 402,296 $3`15,313 150,649 913,770 519,230) Fund Balance, January 1 '20,491 2,104 1,226,379 44,450 2,177,717 3,471,141 3,990,371 Fund Balance, December 31 55,771 2,336 �1,628,675 Q369,763 �'�,328,366 �4,384,911 $3,471,141 (See notes to financial statements) This statement is an integral part of report dated M:�y 26, 1982. I r r tw City of Brooklyn Center Schedule S-1 Capital Projects Fund PROJECT- LENGTH SCHEDULE OF CONSTRUCTION PROJECTS From Beginning to December 31, 1981 i Sources of Fundin� Community Project Bond Lawcon Development Appropriated Project Authorization Proceeds Grants Grants Fund Balance Other Total Expenditures General 18, 250 Central Park Garden City 85, 000 8, 500 76. 500 85, 000 37, 766 Civic Center Building access 20, 000 20, 000 20, 000 7, 837 Palmer Lake Basin 102, 500 102, 500 102, 500 6, 250 Park Bonding costs 17, 838 17, 838 17. 838 17, 679 Garage service entry 4, 960 4, 960 4. 960 8, 824 Central Park 468,552 383,552 85,000 468,552 49,772 Improvement project 97, 100 97, 100 97, 100 168, 630 Sidewalk curb cuts 12, 000 12, 000 12, 000 6, 828 Solar demonstration 40, 000 40, 000 40, 000 Traffic signal 110, 377 110, 377 110, 377 113, 103 Police Department communications 225, 000 225, 000 225, 000 A rboretum 169, 635 169, 635 169, 635 168, 598 CEA P services 144, 000 144, 000 144, 000 144, 000 ci� C ity hall elevator 65, 000 65, 000 65, 000 52, 674 Garden City shelter 59, 000 24, 000 35, 000 59, 000 59, 090 Neighborhood parks 992,560 730,560 237,000 25,000 992,560 755,787 Shingle Creek Trailway II 193, 700 300 177, 210 16, 190 193, 700 153, 800 Central Park II 281,257 75,000 143,442 40,000 22,815 281,257 279,294 Brookland shelter building 43, 000 43, 000 43, 000 42, 543 Salt storage building 58, 000 58, 000 58, 000 71, 643 Shingle Creek relocation 31, 000 31, 000 31, 000 30, 974 Shingle Creek Trailway I 313, 124 129, 510 183, 614 313, 124 271, 113 Central Park I 240, 000 150, 000 90, 000 240, 000 235, 020 $1,487,885 $676,662 $414,000 $952,57� $242,477 $3,773,603 �2,699,475 Total A ppropriations $3, 773, 603 Less: Expenditures 2, 699, 475 L?nexpended Appropriations $1,07 128 City of Brooklyn Center Schedule S-2 Municipal State A id Construction Fund PROJECT-LENGTH SCHEDULE OF CONSTRUCTIOI�T PROJECTS From l�eginning to Decemb�r 31, 1981 Project Number Appropriation Expenditures Traffic signals T. H. 152 589-29 4, 372 Tra.ffic signals T. H. #152 592-71 15, 981 12, 689 Pedestrian bicycle bridge over T.H. 100 77-10 350, 024 370, 651 Channelize intersection T. H. #152 65th Avenue North 600-97 3, 038 2, 916 Pedestrian birdge over T. H. 100- Design 80-06 26, 311 14, 573 Traffic light T, H. 100 65th Avenue North 600-42 41, 870 42, 167 Traffic light T. H. 100 France Avenue 598-78 4, 823 4, 514 Pedestrian 69th Avenue North 81-130 12, ?72 11, 506 Totals $459, 191 $459, O16 Total Appropriations $459, 191 Less: Expenditures 459, O16 Unexpended A pproprations 175 -60- SPECIAL ASSESSMENT FUNDS Special Assessment Funds are employed to finance and account for the construction and financing of certain public improvements such as resident- ial streets, sidewalks, or storm sewers or the provision of services which are to be paid for wholly or in part from special assessments levied against benefited property. The fact that special assessment improvements are paid for completely or in part by property owners in a limited geographical area deemed to be specially benefited distinguishes them from irtiprovements which benefit the entire community and which are paid for out of general revenues or through the issuance of general obligation bonds. City of Brooklyn Center Special A ssessment Funds COMBINING BALANCE SHEET December 31, 1981 With Comparative Totals for December 31, 1980 Bond #1 1955A 1956AC 1956B 1957AB 1958A 1958B 1959AB ASSETS Temporary investments 2, 835 96, 644 $189, 423 20, 062 48, 568 �145, 058 $121, 999 45, 552 A ccounts receivable i Special assessments receivable: Delinquent 235 Deferred 1, 065 5, 873 Tax forfeit land 74 C ity share of improvements Due from other funds Due from other governments 497 Bond discounts Authorization to assess for construction in progress Total A ssets 2, 909 96, 644 $189, 423 20, 062 48, 568 $145, 058 $123, 064 52, 157 LIABILITIES AND FUND BALANCES Liabilities A ccounts payable C ontracts payable Due to other funds Construction loans payable A ccrued interest payable Bonds payable Performance deposits Total Liabilities -0- -0- -0- -0- -0- -0- -0- -0- Fund Balances Debt Service 2, 909 96, 644 $189, 423 20, 062 48, 568 145, 058 Unexpended appropriations $123, 064 52, 157 Total Fund Balance 2, 909 96, 644 $189, 423 20, 062 48, 568 $145, 058 $123, 064 52, 157 Total Liabilities and Fund Balance 2, 909 96, 644 $189, 423 20, 062 48, 568 $145, 058 $123, 064 52, 157 (See notes to financial statements) This statement is an .integral part of report dated May 26, 1982. -61- Exhibit 17 Construction Totals 1960AB 1961AB 1963A 1965A 1966A 1969A 1970 1973 1976 Fund 1981 1980 $300, 475 �427, 446 $342, 616 98, 136 $141, 353 93, 332 $448, 441 $199, 695 $471, 023 $3, 192, 65� $2, 904, 603 13, 651 13, 651 32, 987 4, 664 1, 315 758 472 2, 704 1, 676 54, 775 20, 692 44, 463 20, 305 152, 059 189, 808 8, 512 5, 790 20, 498 22, 197 60, 313 103, 946 376, 927 181, 197 440, 414 2, 691, 389 3, 918, 121 l, 735, 195 158 402 ?32 1, 366 2, 843 25, 693 61, 848 27, 256 63, 961 178, 758 159, 092 380 400, 900 401, 280 223, 163 290 652 1, 439 46, 475 12, 314 2, 447 14, 761 15, 191 6, 251 6, 251 1, 546, 860 $314, 099 $435, 605 $363, 872 $121, 185 $204, 370 $198, 954 $918, 150 $466, 611 $983, 156 $3, 196, 457 $7, 880, 344 $6, 856, 217 24, 743 32, 682 32, 682 245, 228 268, 449 268, 449 109, 200 $126, 000 2, 383, 642 2, 509, 642 1, 929, 423 51, 506 244, 283 295, 789 152, 814 40, 000 55, 000 40, 000 $120, 000 $155, 000 $580, 000 $285, 000 660, 000 1, 935, 000 2, 325, 000 12, 200 12, 200 -0- 40, D00 55, 000 40, 000 $120, 000 $155, 000 $580, 000 $285, 000 $837, 506 $2, 941, 256 $5, 053, 762 $4, 786, 408 $314, 099 $395, 605 $308, 872 81, 185 84, 370 43, 954 $338, 150 $181, 611 $145, 650 64, 158 $2, 635, 539 $2, 291, 377 $314, 099 191, 043 191, 043 221, 568) $395, 605 $308, 872 81, 185 84, 370 43, 954 $338, 150 $181, 611 $145, 650 255, 201 $2, 826, 582 $2, 069, 809 $314, 099 $435, 605 $363, 872 $121, 185 $204, 370 $198, 954 $918, 150 $466, 611 $983, 156 $3, 196, 457 $7, 880, 344 $6, 856, 217 f -62- City oF Brooklyn Center Exhibit 18 Special Assessment Funds COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND RALANCES Year Ended December 31, i981 Excess of 1981 Revenues Expenditures Revenues Fund Fund Interest On Interest On Bond Paying Over (Under) Balance Balance Fund Total AssessmentsInvestments Other Total Interest Agent Fees Other Expenditures January 1 December 31 sona Fu�a #i 2az zsz g 28z g z, s27 z, sos 1955 A 9, 265 9, 265 9, 265 87, 379 96, 644 1956 AC 18, 846 18, 846 18, 846 170, 577 189, 423 1956 B 1, 994 1, 994 1, 994 18, 068 20, 062 1957 AB 5, 005 5, 005 5, 005 43, 563 48, 568 1958 A 14, 588 14, 588 14, 588 130, 470 145, 058 1958 B 12,455 117 12,338 12,455 110,609 123,064 1959 AB 4, 679 383 4, 296 4, 679 47, 478 52, 157 1960 AB 30, 461 635 29, 826 30, 461 283, 638 314, 099 1961 AB 48, 019 1, 152 46, 867 3, 520 3, 345 175 44, 499 351, 106 395, 605 1963 A 37, 243 1, 680 35, 563 2, 750 2, 700 50 34, 493 274, 379 308, 872 1965 A 11, 668 1, 455 10, 213 1, 542 1, 520 22 10, 126 71, 059 81, 185 rn 1966A 20,461 3,796 16,665 7,150 7,100 50 13,311 71,059 84,370 W 1969 A 18, 620 7, 877 10, 743 11, 758 11, 700 58 6, 862 37, 092 43, 954 1970 88,363 39,883 48,480 45,529 45,433 96 42,834 295,316 338,150 1973 38, 037 16, 704 21, 333 16, 6ll 16, 144 37 430 21, 426 160, 185 181, 611 1976 79,716 39,885 39,831 38,555 35,112 66 3,377 41,161 104,489 145,650 Construction (Schedule S-1) 4,A76, 356 18, 604 $4, 057, 752 3, 631, 870 3, 631, 870 444, 486 189, 285) 255, 201 Totals 1981 $4, 516, 058 $132, 171 $326, 135 $4, 057, 752 $3, 759, 285 $123, 054 554 $3, 635, 677 $756, 773 $2, 0 809 $2, 826, 582 Totals 1980 $1, 214, 252 $163, 581 $248, 818 801, 853 $2, 113, 611 $141. 553 896 $1, 971, 162 $(899, 359) $2, 969, 168 $2, 069, 809 (See notes to financial statements) This statement is an integral part of report dated May 26, 1982. I I I City of Brooklyn Center Schedule S-3 Special A ssessments Fund PROJECT-LENGTH SCHEDULE OF CONSTRUCTION PROJECTS Beginning of Projects to December 31, 1981 Sources A pproved Project A ppro- Source Number priated lYot Stated Total Expenditures Curb and gutter 78-02 7, 500 2, 529 10, 029 10, 029 Storm sewer 79-02 112, 151 19, 800 131, 951 131, 951 Street improvements 81-02 137, 551 26, O60 163, 611 163, 611 Water main improve- ment 81-05 36, 566 36, 566 31, 595 Sanitary sewer 81-06 24, 951 24, 951 21, 904 Storm sewer 81-0? 38, 364 38, 364 35, 627 Street improvements 81-08 239, 784 239, 784 226, 296 Street improvements 81-17 36, 128 36, 128 30, 539 Street improvements 81-18 82, 188 82, 188 81, 387 S idewalk 81-19 9, 124 9, 124 9, 124 Storm sewer 81-20 18, 708 18, 708 18, 535 Street improvements 80-01 58, 400 58, 400 Street reconstruction 81-03 610 610 610 Street reconstruction 81-10 410 410 410 Unallocated 151, 246) (151, 246) (151, 246) $801, 415 (101, 837) 699, 578 610 372 O en Pro'ects P J Appropriations $801, 415 Expenditures 610, 372 Unexpended Appropriations $191, 043 -64- City of Brooklyn Center Schedule S-4 Construction Fund Revenue and Expenditures Year Ended December 31, 1981 Revenues Debt Service: Interest on assessments 18, 604 Other 13, 271 Total Debt Service 31, 875 Construction; Assessments levied $2, 595, 907 Reimbursements: Other cities Developers 73, 670 I� Other l, 196, 902 $3, 866, 479 Other Sources: Transfers from other funds 178, 002 Total Construction $4, 044, 481 T otal evenu R e $4, 076, 356 Expenditures Streets 771, 163 Storm sewers 317, 091 Sanitary sewers 21, 904 Water assets 35, 608 Bridges 115, 854 Unallocated 244, 143) Total Expenditures $1, 017, 477 Other Uses Charges against authorization to assess $2, 614, 393 Total Expenditures and Other Uses $3, 631, 870 Increases in Fund Balance 444, 486 -65- C ity of Brooklyn Center Schedule S-4 Special Assessments Funds (Continued) COMPARATIVE STATEMENT OF CONSTRUCTION AP�ROPRIATIONS AND EXPENDITURES For the year Ended December 31, 1981 i Debt Unexpended Service A ppropriations Total Unexpended appropriations January 1, 1981 32, 283 221, 568) 189, 285) A ppropriations during the year 3, 674, 412 3, 674, 412 Appropriations closed during the year 2, 651, 429) 2, 651, 429) Revenues 31, 875 31, 875 A ppropriations Balance December 31, 1981 64, 158 801, 415 865, 573 Construction expenditures January 1, 1981 $3, 087, 640 $3, 087, 640 Expenditures during the year 1, 017, 477 1, 017, 477 Projects closed during the year 3, 494, 745) 3, 494, 745) Construction expenditures December 31, 1981 610, 372 610, 372 Unex ended A ropriation for P PP Construction 64, 158 191, 043 255, 201 i -65. 1- i ENTERPRISE FUNDS Enterprise funds are established to account for the financing of self-sup- porting activities of governmental units which render services on a user charge basis to the general public. The most universal type of government enterprise is the public utility engaged in the provision of such basic serv- ices as water, electricity, and natural gas. Sanitary sewer systems financed by user charges have also assumed the status of public utility operations in many urban areas, and many cities have combined water and sewer systems undei the same management. Another type of government enter- prise in Minnesota is the Municipal Liquor operation. City of Brooklyn Center Exhibit i9 Enterprise Funds COMBINING BALANCE SHEET December 31, 1981 W ith Comparative Totals for December 31, 1980 Municipal Public Municipal Public Liquor Utilities Totals Liquor Utilities Totals Fund Fund 1981 1980 Fund Fund 1981 1980 ASSETS LIABILITIES, CONTRIBUTIONS AND RETAINED EARNINGS Current Assets Current Liabilities Cash on hand 3, 900 3, 900 3, 900 Accounts payable $106, O66 7, 674 113, 740 157, 230 Tempoaray investments 6, 742 2, 111, 289 2, 118. 031 1, 673, 454 Contracts payable 185, 316 185, 316 Accounts receivable 7. 226 104, 249 111, 475 108, 795 Due to other funds 2, 739 43, 344 46, 083 1, 182 Less: Allowance for estimated Due to other governments 18, 513 18, 513 uncollectible 1, 042) 4, 548) 5, 590) 4, 151) Accrued liabilities 16, 570 3, O61 19, 631 26, 233 A ssessments receivable 3, 859 3, 859 10, 125 Current portion of long-term Due from other funds 120 120 966 debt 40, 000 40, 000 4Q 000 Due from other governments 83, 565 83, 565 51, 359 Inventories: Total Current Liabilities $125, 375 297, 908 423, 283 224, 645 4 790 17 470 Materials and supplies 14, 790 1, Merchandise for resale 254, 194 254, 194 261, 185 Long-Term Liab[litiea Prepaid expenses: Revenue bonds 480,000 480,000 520,000 M. W. C. C. charges 60, 371 60, 371 46, 462 Less: Current portion 40, 000 40, 000 40, 000 Rent 3, 032 m Insurance 14, 952 14. 952 32 Total Long-Term Liabilities -0- 440, 000 440, 000 480, 000 Maintenance 2, 822 2. 822 2, 554 Accrued water sewer revenue 210, 366 210, 366 144, 375 Contributions Toward Construction Special assessme�ts and Total Current Asaets $288, 914 2, 583, 941 2, 872. 855 2, 319, 558 developers $10, 158, 862 $10, 158, 862 $10, 101, 350 i Restricted Assets Total Contributions -0- $10, 158, 862 $10, 158, 862 $10, 101, 350 Temporary investments 4, 000, 000 4, 090, 000 3, 777, 213 Due from other governments DeFerred Credits M. W. C. C. 237, 376 237, 376 246, 242 Gain on sale of assets 62, 412 62, 412 65, 697 Debt Retirement account 135, 280 135, 280 131, 485 Metro Waste Control Commission Assessments receivable-deferred 141, 736 141, 736 111, 128 237, 376 237, 376 246, 242 Construction Funds invested 92, 139 92. 139 82, 982 Total Deferred Credits -0- 299, 788 299, 788 311, 939 Total Restricted Assets -0- 4, 606, 531 4, 606, 531 4, 349, 050 City of Brooklyn Center Exhibit 19 Enterprise Funds (continued) COMBINING BALANCE SHEET December 31, 1981 With Comparative Totals for December 31, 1980 Municipal Yublic Municipal Public Liquor Utilities Totals Liquor Utilities Totals Fund Fund 1981 1980 Fund Fund 1981 1980 ASSETS LIABILITIES, CONTRIBUTIONS AND RETAINED EARNINGS Fixed Assets Retained Earnin�s Mains and lines $10, 765, 003 $10, 765, 003 $10, 562, 673 Reserved: Structures 2, 082, 311 2, 082, 311 1, 914, 081 Debt retirement 135, 280 135, 280 131, 485 Equipment $135, 255 268, 475 403, 730 381, 987 Construction Funds 92, 139 92, 139 82, 982 Land 24, 816 24, 816 24, 816 Working capital 620, 000 620, 000 20, 000 Land improvements 5, 898 5, 898 5, 898 Appropriations and deferred Leasehold improvements 56, 197 56, 197 28, 799 assessments 365, 544 365, 544 Construction work in progress 87, 219 87, 219 10, 096 Designated for plant expansion 4, 000, 000 4, 000, 000 3, 777, 213 'I $197,350 $13,227,824 $13,425,174 $12,928,350 Unreserved: Less; Allowance for depreci- Undes[gnated $240, 874 1, 033, 456 1, 274, 330 1, 567, 426 ation 120, 015 2, 975, 319 3, 095, 334 2, 899, 918 Total Retained Earnings $240, 874 6, 246, 419 6, 487, 293 5, 579, 106 Total Fixed Assets 77, 335 $10, 252, 505 $1Q 329, 840 $10, 028, 432 rn J T otals $366, 249 $17, 442, 977 $17, 809, 226 $16, 697, 040 Totals $366, 249 $17, 442, 977 $17, 809, 226 $16,fi97, 040 (See notes to financial statements) This statement is an integral part of report dated May 26, 1982. City of Brooklyn Center Exhibit 20 Enterprise Funds C OMBINING S TA TE ME NT OF OPE RA TI ONS A ND RE TA INE D EA RNINGS For the Year Ended December 31, 1981 With Comparat�ve Totals for the Year Ended Decexnber 31, 1980 Public Liquor Utilities 1981 1y80 Revenues Gross margin on product sales $509, 407 509, 407 464, 085 Charges for services $1, 518, 638 1, 518, 638 1, 479, 902 Interest 8, 446 647, 302 655, 748 465, 071 Other revenue 2, 162 106, 271 108, 433 13, 938 Total Revenues $520, 015 $2, 272, 211 $2, 792, 226 $2, 422, 996 i Expenses Personal services $193, 305 157, 512 350, 817 320, 193 Contractual services 57, 868 269, 470 327, 338 240, 176 I' Supplies and materials 8, 343 34, 105 42, 448 42, 050 Insurance 23, 252 4, 654 27, 906 31, 938 Rent and administration 63, 546 $6, 096 149, 642 128, 442 Interest and fiscal agent fees 20, 343 20, 343 21, 710 Depreciation 12, 542 185, 060 197, 602 190, 989 Metro Waste Control Commission charges 637, 256 637, 256 502, 830 Other 5, 640 47 5, 687 6, 870 Total Expenses $364, 496 $1, 394, 543 $1, 759, 039 $1, 485, 198 Excess (Deficit) of Revenues Over Expenses $155, 519 877, 668 $1, 033, 187 937, 798 Other Financing Sources (Uses) Transfers to General Fund $(�.25, 000) 125, 000) 125, 000) Total Other Financ- ing Sources (Uses) $(125, 000) -0- 125, 000) 125, 000) E�cess (Deficit) of Revenues and Other Sources Over Expenses and Other Uses 30, 5].9 877, 668 908, 187 812, 798 Retained Earnings January 1 210, 355 5, 368, 751 5, 579, 106 4, ?66, 308 Retained Earnings December 31 $240, 874 $6, 246, 419 $6, 487, 293 $5, 579, 106 (See notes to financial statements) This statement is an integral part of report dated May 26, 1982. -68- City of Brooklyn C'enter Exhibit 21 Enterprise Funds COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION For the Year Ended December 31, 1981 With Comparative Totals for the Year Ended December 31, 1980 Munecipal Public Liquor i?tilities Totals Fund Fund 1981 1980 Sources of Financial Resources Operations: Net income for year 155, 519 877, 6fi8 $1, 033, 157 937, 798 Add: Items not requiring current outlay of resources: Depreciation 12, 542 185, O60 197, 602 190, 990 Total Resources Provided by Operations 168, 061 $1, 062, 728 $1, 230, 789 $1, 128, 788 Decrease in working capital 8, 067 8, 067 Debt retirement investments, sold 1, 365 Contributions toward construction 57, 512 57, 512 79, 474 Decrease in assessments receivable deterred 4, 936 Decrease in M. W. C. C. receivable 8, 866 8, 866 8, 348 Decrease in settlement receivable 1, 402 Property sold 2, 188 2, 188 Totals 176, 128 $1, 131, 294 $1, 307, 422 $1, 224, 313 Uses of Financial Resources Depreciation on property sold g 2, 188 2, 188 Purchase of properties 51, 128 447, 883 499, O11 140, 196 Payments to retire bonds 40, 000 40, 000 35, 000 Increase in working capital 362, 726 362, 726 729, 537 Increase in restricted investments 222, 787 222, 787 176, ]96 TransFers to Geoeral Fund 125, 000 125,-000 125, 000 Amortization of deferred gain on sale of assets 3, 284 3, 284 3, 284 Construction funds invested 9, 157 9, 157 6, 752 Amortization of Metro Waste Control Commission deferred credit 8, 866 8, 866 8, 348 Increase in asaessments receivable de£erred 30, 608 30, 608 Debt retirement investments purchased 3, 795 3, 795 Totals 176,1'lII �1,131,294 $1,307,422 �1,224.313 (See notes to financial statements) This statement is an integral part of repor[ dated Mav 26, 1952. City of Brooklyn Center Exhtbit 22 Municipal Liquor Fund STATEMENT OF OPERATIONS AND RETAINED EARNINGS For the Year Ended December 31, 1981 With Comparative Totals For the Year Ended December 31, 1980 Brooktyn Humboldt Boulevard Northbrook Totals Square Store Store Store 1981 1980 Sales and Cost of Goods Sold Sales $700,812 $837,206 $939,216 $2,477,234 $2,404,379 Less: Cost of Sales $561, 303 $676, 429 $756, 007 $1, 993, 739 $1, 969, 264 Trade discounts 7, 122) 8, 521) 10, 269) 25. 912) 28, 970) $554,181 $667,908 $745,738 $1.967,827 $1,940,294 GrossMargin $146,631 $169,298 $193,478 509,407 464, 085 Operating Expenses $117, 470 $1i0, 092 $136, 934 364, 496 330, 200 Operating Income 29, 161 59, 206 56, 544 144, 911 133,885 0 Other Revenue Interest earned S, 446 6, 265 M iscellaneous 2,162 2,306 Net Income to Retained Earnings 155, 519 142, 456 Retained Earnings, Januar,y 1 210, 355 192,899 Transfer to Ge�eral Fund 125, 000) 125, 000) Retained Earnings, December 31 240, 874 210, 355 (See notes to financial statements) This statement is an integral part of report dated May 26, 1�J82. City of Brooklyn Center Exhibit 23 Municipal Liquor Fund COMPARATIVE STATEMENT OF LIQUOR OPERATING EXPENSES B rooklyn Humboldt Boulevard Northbrook For the Year Ended December 31, Square Store Store Store 1981 1980 Operating Expenses Salaries and wages 55, 149 69, 449 68, 707 $193,305 $172,022 Rent 18, 380 17, 687 36, 067 36, 123 Payroll taxes 8, 144 4, 081 7, 235 19, 460 16, 271 Utilities 5, 239 3, 178 5, 210 13, 627 13, 279 Depreciation and amortization 4, 497 3, 552 4, 493 12, 542 10, 55T Insurance 6.824 7,351 9,077 23,252 22,325 Supplies 2, 489 3, 000 2, 854 8, 343 9, 364 Repairs and maintenance 618 796 2,091 3,5p5 4,514 Professional services 826 826 825 Z,477 2,739 Heating 635 1,239 1,289 3,163 3,821 I Provision for uncollect[Gle checks and cash short 2II3 340 774 1,397 1, 116 Laundry 501 455 642 1,598 1,423 Protective services 590 640 650 1, 880 1, 860 Inventory variance and breakage 1, 355 109 113 1, 577 200 Telephone 557 542 465 1, 564 1, 115 Advertising 518 489 489 1,496 593 M iscellaneous 42 129 131 302 346 Taxes and ltcenses 28 18 18 64 59 A dministrative services 7, 694 9, 343 10, 442 27, 479 24, 289 Other contracted services 851 851 851 2,553 2,518 Data processing 2,011 2,372 2,613 6,�96 5,672 Design and construction 1, 045 1, 045 Use of personal auto 239 287 278 804 Tota1 Liquor Operating Expenses $117.4T0 $110, 0�2 $136, 934 g364, 496 $330, 200 (See notes to financial statements) This statement is an inte�ral part of report dated Ma,y 26, 1982. �'ity of Brooklyn Center Exhibit 24 Public Utilities Pund BALANCESHEET December 31, 1981 With Comparative Totals for December 31, 1980 ���ater Sewer Totals Water Sewer Totals Accounts Accounts 1981 1980 9ccounts 9ecounts 1981 1980 ASSETS I.IABILITIES, CONTRIBUTIONS .AND RETAINED EARNTNGS Current Assets Current Liabilities Temporary investments 367, 369 $1, 743, 920 2, 111, 289 1, 635, 955 Accounts payable 7, 658 7, 658 39, 571 A ccounts receivable 52, 124 52, 125 104, 249 106, 344 Contracts pa,yable 185, 316 185, 316 Less: Allowance for Due to other funds 43, 360 43, 360 1, 143 uncollectible 2, 274) 2, 274) 4, 548) 2, 137) Due to other governments 18, 513 18, 513 Assessments receivable 3, 859 3, 859 10. 125 Accrued liabilities 3, O61 3, O61 6, 834 llue from other funds 902 Current portion of long-term deht 40, 000 40, 000 40, 000 Due from other govern- ments 83, 565 83, 565 51, 359 Total Current Liabilities 94, 079 203, 829 297, 908 87, 548 Inventories; Materials and supplies 14, 790 14, 790 17, 470 Prepaid expenses; I,ong-Term Liahilities M. W. C. C. charges 60, 371 60, 371 46, 462 Revenue bonds 480, 000 480, 000 520, 000 Accrued revenue 57, 034 153, 332 210, 366 144, 375 Less: Current portion 40, 000 40, 000 40, 000 N Total Current Assets 492, 902 $2. 091, 039 2. 583, 941 2, 010, 855 Total Long-Term Liabilities 440, 000 -0- 440, 000 480, 000 Restricted Assets Contributions To�vard Construction Special assessments and Temporary investments 3, 700.000 300, 000 4, 000, 000 3, 777, 213 Developers Q 4, 747, 439 $5, 411, 423 �10, 158, 862 .Q10. 101, 350 Due from other govern- ments (MWCC 237, 376 237, 376 246, 242 Total Contributions Q 4, 747, 439 �5, 411, 423 $10, 158, 862 $10, 181, 350 Debt retirement account 135, 280 135, 280 131, 485 Deferred Credits, Assessments receivable Gain on sale of assets 62, 412 62, 412 65, 697 deferred 141, 736 141, 736 111, 12II Metro W:aste Control Commission Construction Funds invested 92, 139 92, 139 82, 982 237, 376 237, 376 246, 242 Total Restricted Assets 4, 069, 155 537, 376 4. 606, 531 4, 349, O5Q Total Deferreci'E7redits -0- 299, 788 299, 788 g 311, 939 City of Brooklyn Center Exhibit 24 Public Utilities Fund (continued) RALANCE SHEET December 31, 1981 With Comparative Totals for December 31, 1980 Water Sewer Totals Water Se�ver Totals Accounts Accounts 1981 1980 Accounts Accounts 1981 1980 ASSETS LIAAILITIES, CONTRIf3UTiONS AND RETAINFD EARNINGS Fixed Assets Retained larnings Mains and lines 5. 894, 742 $4, 870, 261 $10, 765, 003 $10, 562, 673 Reserved: Structures 1, 363, 745 718, 566 2, 082, 311 1, 914, 081 Debt retirement 135, 280 135, 280 131, 485 Equipment 134, 238 134, 237 268, 475 27Q. 463 Construction funds 92, 139 92, 139 82, 982 Land 24, 816 24, 816 24, 816 Working capital 170, 000 450, 000 620, 000 20, 000 Construction in progress 58, 909 28, 310 87. 21�J 10, 096 Appropriations 71, 181 152, 627 223, 808 7, 476, 450 $5, 751, 374 $13, 227, 824 $12, 782, 129 Designated for plant expansion 3, 700, 000 300, 000 4, 000, 000 3, 777, 213 Less; Allo�n�ance for Unreserved: depreciation 1, 506, 003 1, 469, 316 2, 975, 319 2, 792, 496 i?ndesignated 1, 082, 386 92, 806 1, 175, 192 1, 357. 071 Total Fixed Assets 5, 970, 447 $4, 282, 058 $10, 252, 505 9. 989, 683 Total Retained Earnings 5, 250, 986 995, 433 6, 246, 419 5, 368, 751 Totals $�10, 532, 504 $6, 910, 473 $17, 442, 977 $16, 349, 588 Totals $10, 532�____.___ $6, 910, 473 $17, 442, 977 $16, 349, 588 w (See notes to financial statements) This statement is an integral part of report dated May 26, 1982. City of Brooklyn Center Exhibit 25 Public Utilities Fund STATEMENT OF OPERATIONS AND RETAINED EARNINGS For the Year Ended December 31, 1981 With Comparative Totals for the Year Ended December 31, 1980 Water Sewer Totars Accounts Accounts t981 1980 Operating Revenue Service to consumers 448, 465 $1, 016, 425 $1, 464, 890 $1, 448, 611 Service hookup charges 53, 748 53, 748 29, 202 Sale of water meters net 28 28 3, 744) Penalties 2, 028 4, 306 6, 33� 1, 333 Federal grants 65, 684 65, 684 State grants 13, 137 13, 137 Other 18, 118 18, 118 4, 500 Total Operating Revenue 504, 269 $1, 117, 670 $1, 621, 939 $1, 479, 902 Operating Expenses Total Operating Expenses 422, 224 951, 929 $1, 374, 153 $1, 126, 418 aperating Income 82, 045 165, 741 247, 786 353, 484 Other Revenue Interest earned: Investments 502, 883 117, 211 620, 094 434, 851 Special assessments 10, 124 10, 124 9, 020 Metro Waste Control Comm- ission 7, 927 7, 92? 8, 183 Construction Funds 9, 157 9, 157 6, 752 1Vliscellaneous 2, 970 2, 970 11, 632 Total Other Revenue 522, 164 128, 108 650, 272 470, 438 Other Expenses Interest and fiscal agent fees 20, 343 20, 343 21, 710 Miscellaneous 47 47 6, 870 Other Expenses 20, 390 -0- 20, 390 28, 580 Net Income to Retained Earnings 583, 819 293, 849 877, fi68 795, 342 Retained Earnin s Januar 1 4 667 16? 70 8 8 7 g, y 1, 5 4 5, 3 6 5 1 4, 5 7 3, 4 0 9 Retained Earnings, Decem.ber 31 $5, 250, 986 995, 433 $6, 246, 4Y9 $5, 368, 751 (See notes to financial statements) This statement is an integral part of report dated May 26, 1982. -?4- City of iirooklyn Center Exhibit 26 F'ublic Utilities Fund COMPARATIVE STATEMEN'I' OF WATER OPERATING EXPENSES Classification by Function Source of Customer For the Year Ended December 31, Supply Transmission Administration Accounting 1981 1980 Depreciation 56,459 57,163 �113,622 $309,000 Labor 15,975 28,347 46,563 19,339 110,224 108,950 Electricity 66, 457 66,'457 63, 276 Rent and administration 43, 048 43, 048 34, O15 Materials and supplies 21, 407 1. 570 2, 945 1, 217 27, 139 28, 045 Equipment rentals 7, 002 4, 581 11, 583 16, 313 Professional fees 1, 778 1, 778 13, 491 Repairs and maintenance 1, 663 11, 281 1, 778 1, 920 16, 642 8, 077 Payrolltaxes 9,408 9,408 7,854 Postage AO 9, 636 9, 716 7, 750 Insurance 2.327 2,327 2,308 Employee benefits 3, 743 3, 743 3, 972 Fuel heating 1, 846 1, 846 3, 009 Miscellaneous 756 1, 163 1, 246 134 3, 299 1. 285 Schools and conferences 290 290 150 Small tools and equiQment 1, 002 100 1, 102 332 $165,565 99,624 Q120,208 3 6,827 Q422,224 $407,827 cn (See notes to financial statc:m�,nts) This statement is an integral part of report dated niav 26, 1982. I City of Brooklyn Center Exhibit 27 Public Utilities Fund COMPARATIVE STATEMEN'I' OF SEWER OPERATING rXPENSES Classification by Function Disposal and Customer For the Year Ended December 31, Pumping Transmission Administration Accounting 1981 1980 Metro Waste Control Commission $637, 256 $637, 256 �502, 830 Depreciation 22,975 48,463 71,438 71,438 Labor 14, 661 16, 921 15, 706 47, 288 39, 221 Rent and administration 43, 048 43, 048 34, 015 Equipment rental 7, 002 4, 581 11, 583 16, 358 Electricity 10, 066 10, 066 9, 484 Payrolltaxes 9,408 9,408 7,854 Repairs and maintenance 182 182 1, 140 Professional fees 514 82. 000 1, 419 83, 933 5, 251 Postage 58 2, 437 2, 495 1, 790 Materials and supplies 2, 210 653 4, 103 6, 966 4, 641 Insurance 2.327 2.327 7,305 Employee benefits 3, 490 3, 490 2, 670 Small tools and equipment 100 100 200 Fuel heating 327 327 237 Miscellaneous 643 2, 146 2, 614 5, 403 499 Payments to other cities for services 16, 619 1&, 619 13, 658 rn $705, 271 150, 183 89, 457 7, 0 18 �951, 929 $718, 591 (See notes to financial statements) This statement is an integral part of report dated May 26, 1982. i TRUST AND AGENCY FUNDS Trust and Agency Funds account for assets held by the City as a trustee or agent for individuals, private organizations, and other governmental units. City of Brooklyn Center Schedule S-5 A ll A ge ncy Funds COMBINING STATEMENT OF CHANGES IN ASSETS AND LLABILITIES For the Year Ended December 31, 1981 Balance Balance December 31, December 31, 1980 Additions Deductions 1981 A ssets Cash in banks 72, 386 -0- 72, 386 $104, 400 Investments 86, 448 237, 950 154, 691 65, 307 A ccrued interest 85 85 -0- A ccounts receivable 51, 536 43, 806 51, 536 43 806 Taxes receivable 1, 706 401 1, 305 Due from other governments -0- 48, 647 48, 647 -0- Total Assets $212, 161 $330, 403 $327, 746 $214, 818 Liabilities A ccounts payable 26, 455 7, 681 26, 455 7, 681 Principals' balances 185, ?06 322, 722 301, 291 207, 137 Total Liabilities $212, 161 $330, 403 $327, 746 $214, 818 (See notes to financial statements) This statement is an inte ral part of report dated May 26, 1982. g I I i 1 1 II I 7 7 City of Brooklyn Center Schedule S-6 Housing and Redevelopment Fund STATEMENT OF CHANGES IN ASSETS AND LIABILITIES For the Year Ended December 31, 1981 Balance Balance December 31, December 31, 1980 Additions Deductions 1981 A ssets Cash in b anks 72 386 0 72, 386 0- nve I stments 8 7 5, 68 237, 950 154, 037 169, 800 A ccrued interest 85 85 -0- A ccounts receivable 51, 536 43, 806 51, 536 43, 806 Taxes receivable 1, 468 182 1, 286 Total Assets $211, 162 $281� 756 $278, 226 $214, 692 i L iabilitie s A ccounts payable 26, 455 7, 681 26, 455 7, 681 Principals' balance 184, 707 274, 275 281, 771 207, O11 Total Liabilities $211, 162 $281, 756 $278, 226 $214, 692 (See notes to financial statements) This statement is an integral part of report dated May 26, 1982. i 1 1 8 C ity of Brooklyn Center Schedule S-? Fire Department Relief Association Fund STATEMENT OF CHANGES IN ASSETS AND LIABILITIES For the Year Ended December 31, 1981 Balance Balance December 31, December 31, 1980 A dditions Deductions 1981 Assets: Investments 761 654 107 Taxes receivable 238 219 19 Due from other governments 48, 647 48, 647 Total Assets 999 48, 647 49, 520 126 Liabilit ie s Principals' balance 999 48, 647 49, 520 126 Total Liabilities 999 48, 647 49, 520 126 (See notes to financial statements) This staternent is an integral part of report dated May 26, 1982. -?9- GENERAL FIXED ASSETS �ROUP OF ACCOUNTS General Fixed Assets are those fixed assets of a governmental jurisdiction which are not accounted for irL an Enterprise, Working Capital, or Trust Fund. To be classified as a fixed asset in this category, a specific piece of property must possess three attributes: (1) tangible nature; (2) a life longer than the cunent fiscal year; and (3) a signi�cant value. City of Brooklyn Center Exhibit 28 SCHEDULE OF GENERAL FIXED ASSETS BY SOURCES December 31, 1981 Balance Balance January 1, ]�ecember 31, 1981 Acquisitions Disposals 1981 Investments in General Fixed Assets (at cost) Land and land improve ments 568, 462 428, 025 996, 48? Buildings and building improvements 3, 138, 680 611, 701 3, 750, 381 Park properties (includ- ing buildings) 2, 559, 301 94, 273 2, 653, 574 Furniture 356, 363 "16, 235 372, 598 Departmental equipment 1, 972, 471 207, 981 31, 485 2, 148, 967 Storm sewers and street pro�ects 10, 868, 360 1, 204, 108 12, 072, 468 Total Investments in General Fixed Assets $19, 463, 637 $2, 562, 323 31, 485 $21, 994, 475 Sources of Investments General indebtedness 600, 491 600, 491 General Fund revenues (includes ad valorem levies) 2, 796, 951 375, 356 31, 485 3, 140, 822 Liquor Fund revenue cer- tificates 304, 571 304, 571 Contributions received 327, 398 327, 398 Special assessments 10, 686, 896 1, 204, 108 11, 891, 004 Capital Projects Funds: General Obligation Bonds 3, 129, ?98 3, 129, 798 A d Valorem tax levies 265, 243 265, 243 Sale of assets 38, 654 118, 000 156, 654 Transfers from Debt Service Funds excess after payment of debt 198, 386 198, 386 Transfers from General Fund 3, 000 250, 000 253, 000 Interest earnings on investments 264, 343 ?0, Q14 334, 357 Federal grants 773, 642 297, 500 1, 071, 142 State grants 74, 264 247, 345 321, 609 Total Sources of Invest- ments $19, 463, 637 $2, 562, 323 31, 485 $21, 994, 475 See notes to financial statements This statement is an integral part of report dated May 26, 1982. -80- City of Brooklyn Center Schedule S-8 SCHEDULE OF GENERAL FIXED ASSETS BY FUNCTION AND ACTNITY December 31, 1981 Machinery Streets and and Function Total Land Buildings Equipment Storm Sewers General Govern- ment $15, 590, 520 996, 487 $2, 521, 565 $12, 072, 468 General Govern- ment Buildings 3, 750, 381 $3, 750, 381 Parks (including buildings) 2, 653, 574 2, 653, 574 Totals $21, 994, 475 $3, 650, O61 $3, 750, 381 $2, 521, 565 $12, 072, 468 -81- City of Brooklyn Center Schedule S-9 SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS BY FUNCTION AND ACTNITY December 31, 1981 Balance Balance January 1, December 31, 1981 A cquistions Disposals 1981 General Government $13, 765, 656 $1, 856, 349 31, 485 $15, 590, 520 General Government Buildings 3, 138, 680 611, 701 3, 750, 381 Parks (including build- ings) 2, 559, 301 94, 273 2, 653, 574 Totals $19, 463, 63? $2, 562, 323 31, 485 $21, 994, 475 (See notes to fina.ncial statements) This statement is an integral part of report dated May 26, 1982. t -82- i F i t GENERAL LONG-TERM DEBT GROUPOFACCOUNTS General obligation bonds and other forms of long-term debt supported by general revenues are obligations of a governmental unit as a whole and not its individual constituent funds. Moreover, the proceeds of such debt may be spent on facilities which are utilized in the operations of several funds. For these reasons, the amount of unmatured long-term indebtedness which is backed by the full faith and credit of the government should be recorded and accounted for in a separate self-balancing group of accounts titled the "General Long-Term Debt Group of Accounts". This debt group will include, in addition to conventional general obligation bonds, time warrants and notes which have a maturity of more than one year from date of issuance. City of Brooklyn Center E xhibit 29 COMPARATIVE STATEMENT OF GENERAL LONG-TERM DEBT December 31 1981 1980 Amounts Avai.lable and to be Provided Amounts available in Debt Service Funds (Exhibit 12 508, 481 403, 728 Amounts to be provided in future periods: General Obligation Bond principal 2, 726, 519 3, 016, 272 Special A ssessments levied in C ity-owned properties 177, 960 159, 092 Total Amount Available and to be Provided $3, 412, 960 $3, 579, 092 General Debt to be Paid in Future Periods Principal Portian of debt $3, 412, 960 $3, 579, 092 Total General Debt to be Paid in Future Periods $3, 412, 960 $3, 579, 092 (See notes to financial statements) This statement is an integral part of report dated May 26, 1982. -83- i C ity of Brooklyn Center TABLE 1 GENERAL GOVERNMENTAL EXPENDITURES BY FUNCTION Last Ten Fiscal Years Public C ommunity Fiscal General Safety and Public Health Parks and Debt Pension Year Government Welfare Works Services Recreation Service Expense 1972 $496, 377 561, 100 490, 831 27, 507 478, 385 $313, 927 $214, 663 1973 494, 968 587, 443 500, 840 26, 912 466, 642 384, 101 195, 125 1974 546, 649 ?00, 438 522, 297 26, 555 484, 811 389, 397 227, 727 1975 628, 341 761, 670 599, 314 43, 269 543, 271 383, 708 202, ?04 1976 722, 116 849, 672 692, 545 62, 014 633, 935 411, 730 190, 89Q 0 0 197? 764, 921 961, 851 761, 542 50, 973 639, 315 388, 130 258, 837 1978 868, 776�� 1, 151, 480� 733, 615 66, 423�= 795, 116� 380, 180 1979 688, 539� 1, 521, 159� 892, 470� 48, 576� 860, �83� 356, 905 1980 839, 907� 1, 442, 619ry� 1, 103, 166* 37, 336�= 917, 224=� 332, 139 1981 910, 131�= 1, 588, 149ry< 1, 176, 447* 39, 385�< 1, 162, 878�= 412, 154 J=Pension expense is allocated to these functional expenditures General Fund and Debt Service Funds I City of Brooklyn Center TABLE 2 REVENUE OTHER THAN SPECIAL ASSESSMENTS Last Ten Fiscal Years Charges Revenues in Excess of I General for Current Licenses Expenditures Fiscal Property Shared Services and and Fines and Public Liquor Year Taxes�= Taxes�� Other Revenue� Permits� Forfeitures� Utilities Stores 1972 $1, 212, 708 824, 105 319, 651 $100, 455 37, 172 $278, 089 $133, 972 1973 1, 371, 366 922, 477 368, 382 96, 006 53, 862 527, 510 123, 316 1974 1, 542, 561 958, 058 462, 575 88, 922 38, 644 435, 931 134, 995 1975 1, ?45, 667 1, 024, 571 432, 083 101, 380 42, 940 381, 458 150, 902 1976 1, 725, 854 1, 432, 745 486, 371 102, 399 48, 475 103, 848 147, 143 i" 1977 1, 880, 700 1, 577, 843 472, 410 131, 107 54, 420 187, 560 121, 536 1978 1, 883, 745 1, 604, 452 494, 772 179, 062 68, 281 351, 732 134, 841 1979 2, 272, 323 1, 887, 093 714, 894 186, 464 82, 466 546, 930 161, 994 1980 2, 416, 973 2, 731, 611 1, 127, 085 195, 931 111, 382 937, 798 142, 456 1981 2, 034, 252 3, 724, 683 1, 579, 396 207, 100 111, 596 877, 668 155, 519 ��General, Special Revenue, Debt Service and Capital Projects Funds. City of Brooklyn Center TABLE 3 TAX LEVIES AND TAX COLLECTIONS Last Ten Years Ratio of Collections Percentage Collections A ccumulated of Current Levy Collec- of Prior Ratio of Delinquent Year's Taxes ted During Year's Taxes Total A ccumulated Taxes to Year Total During Fiscal Fiscal During Fiscal Total Collections of Delinquent Current Year Collected Tax Levy Period Period Period Collections Tax Levy Taxes Tax Levy 1972 $1, 195, 237 $1, 163, 912 97. 38 96, 219 $1, 260, 131 1. 0543:1 48, 4�9 04050;1 1973 1, 353, 452 1, 302, 941 96. 27 19, 480 1, 322, 421 9771:1 42, 173 03116:1 1974 1, 518, 271 1, 442, 873 95. 03 34, 450 1, 477, 323 9730:1 89, 35? 05885:1 I 1975 1, 728, 986 1, 678, 567 97. 08 61, 791 1, 740, 358 1. 0066:1 144, 641 08366:1 1976 1, 715, 170 1, 521, 690 88. 72 56, 229 1, 577, 919 9200:1 281, 903 16436:1 o� 1977 1, 880, 70D 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. 87 163, 701 2, 159, 322 1. 0482:1 170, 662 08285:1 1979 2, 316, 550 2, 277, 597 98. 32 58, 083 2, 335, 680 1. 0083:1 146, D42 06304:1 1980 2, 350, 734 2, 306, 803 98, 13 62, 371 2, 369, 174 1. 0078:1 135, 953 05783:1 1981 2, 746, 020 2, 619, 758 95. 40 27, 183 2, 646, 941 9639:1 235, 032 08559:1 li City of Brooklyn Center TABLE 4 ASSESSED VALUE AND MARKET VALUE OF ALL TAXARLE PROPERTY Last Ten Years 1973 1974 1975 197fi 1977 1978 1979 1980 1981(3) 1982 Population (Actual) 36, 908 37, 207 36, 954 37, O81 36, 116 34, 110 33, 700 32, 950 31, 167 31, 167 Real Property Assessed value: City: Homestead 52, 150, 596 53, 857, 283 55, 031, 870 62, 354, 181 69, 130, 468 67, 641, 018 72, 075, 015 70, 506, 973 82, 133, 535 74, 268, 430 Excess and non-homestead 36, 527, 538 40, 147, 670 42, 501, 704 47, 138, 412 50, 356, 911 53, 976, 290 54, 893, 227 63, 605, 303 80, 626, 961 104, 715, 944 Area-wide allocation (net) 460, 981 133, 422 201, 206) 1, 190, 083) 1, 454, 192) 1, 832, 196) 1, 680, 827) 2, 357, 630) TotalAssessed Value 88,678,134 94,004,953 97,694,555 $109,626,015 $119,286,173 $120,427,225 $125,504,050 $132,280,080 $161,079,669 $176,626,744 Estimated Market Value: $249, 328, 665 $262, 535, 943 $270, 699, 261 $301, 639, 725 $329, 463, 243 $381, 926, 955 $396, 811, 532 $451, 519, 456 $604, 637, 366 $657, 701, 757 i Personal Property I Assessed val�e 2, 403, 743 2, 657, 185 2, 852, 992 2, 800, 885 3, 034, 703 3, 537, 911 4, 389, 397 3, 816, 766 4, 027, 036 4, 113, 767 I Estimated market balue 5, 590, S00 6, 179, 500 6, fi34, 865 6, 505, 874 7, 059, 986 8, 227, 700 10, 207, 900 8, 876, 200 9, 365, 200 9, 566, 900 Total Real and Personal Property Assessed value 91, 081, 877 96, 662, 138 $100, 846, 547 $112, 426, �J00 $122, 32Q 876 $123, �J65, 136 $129, 893, 447 $136, 096, 846 $165, 106, 705 $180, 740, 5 Estimated Market Value $254, 918, 765 $268, ?15, 443 $277, 334, 126 $308, 145, 599 $336, 523, 229 $390, 154, 655 $407, 019, 432 $460, 3�5, 656 $614, 00 2, 566 �667, 268, 657 Ratio of Assessed Value to Esti- mated Market Value .35730:1 .35972;1 .36363:1 .36485:1 .36348:1 .317733:1 .319133:1 .2�561:1 .26890:1 .27086:1 Per Capital Valuations �ssessed Value 2,467.81 2.597.96 2,729.00 3,031.93 3,386.89 3,634.28 3,�J54.40 4,130.41 5,297.4� Q 5,799,10 Estimated Market Value 6, 906. 87 7, 222. 17 7, 504. 85 8, 3 T0. 07 317. 84 11, 43f3. 13 12, 077. 73 13, 972, 55 19,?00. 41 Q 21, 409. 46 (1) 1972 and subsequent valuations reflect chanqes as provided for in Laws 1971, Extra Session, Chapter 31, as amended. (2) 1975 property values and subsequent values include actual amount allocated pursuant to Laws 1�71, Extra Session, ('hapter 24 from area-wide "Pool". (3) 1981, limited market value abolished, all property assessed on estimated market value. i City of Brooklyn Center TABLE 5 TAX HATH'_5 AND TAX LEVIES Years 1960 through 1982 Area School District Total City, School, County and State N. H. S. Year Voc-Tech #286 #z79 #Z81 #11 Special State Dist.#286 Dist.#Z79 Dist.#281 Dist. #ll Collectible City School {Earl Brown) (Osseo) (Robbinsdale) (Anoka) Districts(3) N. H. S. H. S. (Earl Brown) (Osseo) (Robbinsdale) (Anoka) (4) 1960 51.0 167.56 157.64 120.10 114.70 40.14 14.32 8.10 273.02 263.10 225.56 220.16 1961 48.26 189.64 163.00 139,20 123.53 41.46 13.85 6.84 293.21 266.57 242.77 227.10 1962 48.54 211.59 179.99 158.69 134.00 45.40 15.51 6.39 321.04 289.44 268.14 243.45 1963 50.12 219.00 184.62 154.72 131.09 47.23 16.85 8.31 333.20 298.82 268.92 245.29 1964 50.68 225.60 189.62 150.08 134,85 52.51 17.14 8.22 345.93 309.95 270.41 255.18 1965 49,80 215.26 195.50 154.72 144.77 59.69 16.14 6.84 240.89 321.13 280,35 270.40 1966 41.62 227.22 199.98 155.00 153.23 55.66 18.42 18.32 352.92 325.68 280.70 278.93 1967 51.52 227.90 203.00 128.76 Y60.00 53.30 17.24 17.14 349.89 324.99 280.75 281.99 1968 51.34 236.29 211.80 163.56 188.32 64.77 352.40 327.91 279.67 304.43 1969 50, 94 78 266.63 252. 28 184. 57 265. 29 70..pB/ 388. 35 374.00 30E. 29 386. 23 1970 49.65 4.51 294.55 295.42 215.01 297.66 77.18 425.89 426.76 346.35 424.49 1971 44.11 7.96 250.31 216.00 204.90 257,09 77.02 379.40 345.09 333,99 378.22 1972 43.04 10.38 183.24 166.09 147.20 173.68 80.45 317.11 $99.96 281.07 297.17 1973 14.718(1) 2.644(1) 55.786(1) 54.023(1) 44.727(1) 54.920(1) 27.014(1) 100.162(1) 98.399(1) 389.103(1) 96.652(i) 1974 15.730 3,084 56.805 54.634 50.289 54.845 28.965 104.564 102.393 98.045 99.520 1975 17.988(2) 3.372 61.074 57.654 50.787 60.190 33.142 115.576 112.156 105.289 i11.320 1976 15.607(2) 2.759 54.204 53.435 49.043 55.270 31.275 103.845 103.076 98.684 102.152 1977 15.725(2) 2.485 52.663 53.648 49.875 58.400 34.063 104.936 105.921 102.148 108.188 197$ 16.646(2) 2.132 53.537 52.434 49.690 55.840 35.086 10'7.401 106.298 103.554 107.57Z 1979 17.880 2,227 47.451 45.073 46.645 47,706 35.450 103.008 100,630 102.202 101.036 1980 17.245 1.681 42,981 39,345 41.473 43.212 34.580 96.487 92,851 94.979 95.037 1981 16.603 1.510 33.512 33,427 40.757 37.996 33.373 84.998 84.913 92.243 87,972 1982 16.397 1.469 36.781 42.993 50.524 46.847 33.567 91.214 94.436 102.207 96.811 Tax Levies on Property Within Brooklyn Center Area School District County Total City Year Voc-Tech #zs6 p279 #z81 #11 Total Special Schools Collectible School (Earl Brown) (Osseo) (Robbinsdale) (Anoka) School Districts(3) City State County State 1960 427,311 465,174 248,382 42,211 $1, 183,-078 479, 907 404, 905 84, 515 2, 152, 405 1961 497, 907 665, 299 320, 697 43, 880 1, 527, 783 451, 594 452, 289 91, 090 2, 522, 756 1962 551, 349 ?71, 611 367, 691 59, 153 1, 749, 804 440, 294 47Q 746 98, 108 2, 758, 952 1963 587, 665 830, 918 524, 099 76, 198 2, 018, 880 528, 874 561, 236 139, O15 3, 248, 005 1964 622, 578 883, 842 526, 1S9 100, 102 2, 132, 711 615, 335 593, 890 147, 985 3, 489, 721 1965 668, 961 976, 585 614, 756 140, 923 2, 401, 225 779, 230 650, 137 153, 954 3, 984, 546 1966 728, 353 1, 003, 287 $23, 412 171, 926 2, 526, 978 744, 231 690, 212 245, 668 4, 207, 089 1967 836, 669 1, 142, 570 790, 174 210, 428 2, 979, 841 828, 401 804, 858 268, 168 4, 881, 268 1968 888, 684 i, 200, 483 901, 846 295, 160 3, 286, 173 1, 06�J, 364 847, 632 5, 203, 169 1969 16, 096 1, 238, 004 1, 724, 773 1, 317, 751 535, 263 4, 831, 887 1, 444, 592 1, 051, 250 7, 327, 729 1970 99, 033 i, 375, 490 2, 071, 747 1, 689, 434 719, 896 5, 955, 600 1, 694, 770 1, 090, 248 8, 740, 618 1971 216, 938 1, 580, 568 1, 852, 268 1, 889, 969 807, 230 6, 346, 973 2, 099, 064 1, 202, 152 9, 648, 189 1972 255, 036 1, 190, 094 1, 436, 342 1, 387, 686 555, 856 4, 825, 014 2, 234, 127 1, 195, 237 8, 254, 378 1973 240, 820 1, 273, 089 1, 506, 993 1, 317, 268 599, 411 4, 937, 581 2, 460, 486 1, 34Q 542 8, 738, 610 1974 298, 106 i, 466, 912 1, 571, 708 1, 535, 659 632, 575 5, 504, 960 2, 799, S19 1, 518, 562 9, 832, 341 1975 296, 212 1, 652, 565 1, 742, 105 1, 552, 542 754, 898 5, 998, 322 3, 370, 680 1, 805, 754 11. 174, 756 1976 270, 428 1, 581, 797 1, 804, O10 1, 629, 635 789, 077 6, 174, 947 3, 511, 97�J 1, 752, 564 I 1, 439, 490 1977 265, 953 1, 786, 278 1, 834, 979 1, 800, 122 910, 679 6, 598, 002 4, i56, 788 1, 849, 989 12, 604, 779 19 i 8 231, 488 1, 853, 423 1, 865, 301 1, 841, 345 889, O60 6, 68Q 617 4, 345, 6�J0 2, 060, 012 13, 086, 319 1979 252, 099 1, 763, 457 1, 711, 981 1, 805, 864' 794, 944 6, 328, 345 4, 603, 009 2, 316, 684 13, 248, 038 1980 203, 243 1, 737, 432 1, 568, 491 1, 650, 314 1, 552, 661 6, 712, 141 4, 711, 691 2, 350, 962 13, 774, 774 Z981 237, 607 1, 939, 916 1, 636, 937 2, 058, 145 766, 972 6, 639, 577 5, �25, 084 2, �J47, 717 15, 512, 378 1982 265, 508 2, 422, 618 2, 061, 005 2, 606, 004 881, 745 8, 23fi, 880 6, 066, 917 2, �J63, 602 17, 267, 399 (1) Due to determination of assessed valuation calculation changed by state law (3) Includes Metro ('ouncil, Metro Transit Commission, Mosquito Control District enacted in 1971 the resulting mill rate is approximately one-third as great Park Mcsei�m. as before the enactment of the new law. (4) Area Voc-Tech school tax rate is excluded. (2) Includes tax levy for the Housing and Redevelopment Authority of Brooklyn Centen City of Brooklyn Center TABLE 6 SPECIAL ASSESSMENT COLLECTIONS Last Ten Years Current Special Total A ssessments A mount Ratio of Current and Installments Collected Current Delinquent Becoming Due Currently Collections Assessments Current Fiscal During the During the to Amount Uncollected Percentage Balance Period Fiscal Period Fiscal Period Due At Year End Collected Uncollected 7 8023• 270 3 97 22 7 7 1972 $807, 317 $64 695 .1 54 19 1 1973 ?87, 054 589, 500 .?490:1 312, 177 94. 89 40, 248 1974 742, 130 634, 434 8549:1 202, 970 85. 49 107, 696 o� 1975 679, 068 56?, 338 8355:1 314, 700 83. 55 204, 701 1976 ?36, 438 444, 699 6039:1 606, 439 60. 39 290, 511 1977 663, 514 406, 029 6119: 1 633, 094 61. 19 257, 485 1978 607, 046 407, 224 6708:1 668, 578 67. OS 199, 822 1979 585, 1Q5 461, 550 7888:1 361, 906 78. 88 123, 555 1980 655, 175 572, 104 8732:1 189, 808 87. 32 83, 071 1981 395, 439 335, 859 8493:1 152, 059 84. 93 59, 580 City of Brooklyn Center TABLE 7 RATIO OF NET BONDED DEBT TO ASSESSED VALUE AND NET BONDED DEBT PER CAPITA Last Ten Years Ratio of Net Less:Amount Bonded Debt Net Bonded Fiscal Estimated Assessed Gross In Debt Net to Asses�ed Debt Per Period Population Value Sonded Debt Service Funds Bonded Debt �alues Capita 1972 36, 908 83, 311, 137 $9, 291, 000 $1, 774, 258 $7, 516, 742 .0902;1 $203.66 1973 37, 102 91, 081, 877 9, 224, 000 2, 118, 269 105, 731 .0780:1 191. 52 I 1974 36, 954 96, 662, 138 8, 407, 000 1, 874, 002 6, 532, 998 0675:1 176. 79 1975 37, 081 100, 386, 566 7, 605, 000 2, 115, 984 5, 489, 016 0547;1 148. 02 0 1976 36, 116 112, 293, 478 7, 770, 000 2, 118, 250 5, 581, 750 0497:1 154. 55 1977 34, 110 122, 320, 876 7, 015, 000 2, 193, 710 4, 821, 290 0394:1 141. 35 1978 33, 70Q 123, 965, 136 6, 215, 000 3, 652, 259 3, 562, 741 02873:1 105. 72 1979 32, 950 129, 893, 447 5, 475, 000 3, 138, 481 2, 336, 519 01799:1 70. 91 1980 31, 167 136, 096, 846 6, 265, 000 2, 519, 06? 3, 745, 933 02752:1 120. 19 1981 31, 167 165, 106, 705 5, 650, 000 3, 031, 398 2, 618, 602 01586:1 84. 02 City of Brooklyn Center TABLE 8 STATEMENT OF LEGAL DEBT MARGIN December 31, 1981 A ssessed value, January 1, 198I $180, 740, 511 1 Debt limit 6. 67% of assessed value (See Note A) 12, 055, 392 Total bonded debt $5, 650, 000 Deductions (See Note B): A Bonds 1, Special Assessment Bonds $1, 935, 000 2. State Aid Street Bonds 600, 000 3. Utility Revenue Bonds 480, 000 $3, 015, 000 B. General Debt Service Fund 478, 541 $3, 493, 541 Total Debt Applicable to Debt Limit 2, 156, 459 Le al Debt Mar in December 31 1981 9, 898, 933 g g Note; (A) M.S.A. Section 475. 53 (See following page) Note; (B) M.S.A. Section 475.51 (See following page) -91- City of Brooklyn Center TABLE 8 STATEMENT OF LEGAL DEBT MARGIN December 31, 1981 Note (A M. S. A. Section 475. 53 et seq. Limit on Net Debt: "Subdivision 1. enerall exce t as ther G y, p o wise provtded Ln 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. Note (B): M. S. A. Section 475. 51 Definitions: "Subdivision 4. 'Net Debt' means the amount remaining after deducting from its gorss debt the amount of current revenues which are applicable within the current fiscal year to the pay- ment of any debt, and 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 xeimbursements in whole or in part from the proceeds of the special assessments. 2 arr nts or orders havin no de inite W a g f or f�.xed 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 authorizing their issuance are not to be included in computing the net debt of the municipality. -92- City of Brooklyn Center TABLE 9 COMPUTATION OF DIRECT AND OVERLAPPING DEBT December 31, 1981 City of Brooklyn Center Share Governmental Unit Gross Debt Sinking Funds Net Debt Per Cent Amounf Direct and Overlapping Debt Direct Debt; City of Brooklyn Center (1)$ 5, 650, 000 3, 031, 398 2, 618, 602 100. 00% 2, 618, 602 Overlapping Debt: School Districts: No. 281 (Robbinsdale) 19, 710, 000 6, 564, 531 13, 145, 469 10. 20% 1, 340, 838 No. 11 (Anoka) 24, 205, 000 3, 837, 250 20, 367, 750 5. 90 1, 201, 697 No. 279 (Osseo) (2) 23, 570, 000 3, 478, 722 20, 091, 278 26. 80 5, 384, 463 No. 286 (Brooklyn Center) 965, 000 105, 040 859, 960 100. 00 859, 960 Area Voc. Tech School: No. 287 13, 700, 000 3, 958, 012 9, 741, 988 4. 90 477, 357 Metro transit 13, Z00, 000 2, 748, 000 10, 452, OOQ 1. 50 156, ?80 Metro council (3) 33, 930, 000 23, 170, 540 10, 759, 460 1. 50 161, 392 Metro airport (4) w Hennepin County 33, 825, 000 7, 213, 579 26, 611, 721 2. 70 718, 508 Hennepin County Park District 1, 750, 000 882, 743 867, 25? 2. 70 23, 416 Total Overlapping Debt $164, 855, 000 51, 958, 41? $112, 896, 583 10, 324, 411 Total Direct Overlapping Debt $170, 505, 000 54, 989, 815 $115, 515, 185 12, 943, 013 (1) Includes $1, 935, 000 debt outstanding to be paid from special assessments, $6U0, 000 debt outstanding on State A id Street Bonds, and $480, 000 debt outstanding on revenue bonds. (2) Excludes $640, 000 capital construction loans from the State of Minnesota under provisions of Maximum Effort School Aid Loan Account, considered to be subordinate to publicly held bonds. (3) Excludes $152, 641, 000 (less $15, 214, 522 in sinking funds) of the Metro Council issued G.O. sewer bonds. These sewer bonds are supported from sewer service charges to government units (including Brooklyn Center) w ithin the metro sewer system. (4) Excludes $136, 630, 000 (less $24, 100, 000 in sinking funds) of G.O. Airport bonds supported from airport user fees and rentals. Comparative Net Debt Ratios Chargeable to City Total Direct Debt Overlapping Debt Debt to assessed value ($180, 740, 511) 7. 16% 1. 45°jo 3. 71% Debt to market value ($657, 701, 757) 1. 97% 40% 1. 57% Per capita debt (population 31, 167) $415.28 84.02 $331. 26 C ity of B rooklyn C ente r TA BLE 10 RATIO OF ANNUAL DEBT SERVICE EXPENDITURES FOR GENERAL BONDED DEBT TO TOTAL GENERAL EXPENDITURES Last Ten Years Ratio of Debt Total Total General Service to General Year Principal Interest Debt Service Expenditures Expenditures 1972 90, 000 $223, 92? $313, 927 $2, 219, 355 14. 14 1973 165, 000 219, 101 384, 101 2, 278, 020 16. 86 1974 180, 000 209, 397 389, 39? 2, 577, 758 15. 10 1975 185, 000 198, 708 383, ?08 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, 1$0 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 *Includes General, Special Revenue, Debt Service and Capital Projects Funds. City of Brooklyn Center TABLE 11 SCHEDULE OF REVENUE BOND COVERAGE Last Ten Years I Net Ratio of Net Gross (1) Revenue Debt Service Revenue to Year Revenue Expenses Available Principal Interest Total Debt Service 1972 863, 111 447, 56? 321, 106 $30, 000 $31, ?67 $61, 767 5. 2 to 1 1973 1, 053, 238 383, 000 700, 238 30, 000 30, 525 60, 525 11. 6 to 1 I 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, ODO 28, 275 58, 275 9. 5 to 1 ca 1976 1, 235, 274 710, 662 524, 612 35, 000 27, 105 62, 105 8.4 to 1 1977 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 1979 1, 572, 244 824, 417 747, 827 35, 000 23, O10 58, O10 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 (1) Excludes depreciation and interest on bonds I City of Brooklyn Center TABLE 12 PROPERTY VALUE AND CONSTRUCTION Last Ten Fiscal Years C omme rc ial construction Residential construction Fiscal Number Property value� Year Value of Units Value Commercial Residential Non-taxable 1972 6, 261, 236 808 $12, 612, 280 74, 206, 200 $155, 716, 935 �m 1973 3, 635, 104 35 834, 140 93, 702, 944 168, 832, 999 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, 115 50, 386, 615 1978 5, 247, 131 239 6, 861, 300 140, 651, 752 285, 436, 500 50, 386, 615 1979 8, 209, 394 76 3, 392, 700 161, 917, 915 330, 196, 500 50, 386, 615 I, 1980 12, 554, 300 43 3, 061, OOU 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 J�E stimated market value Exempt assessment not available prior to 1974. C ity of Brooklyn Cente r TA BLE 13 PRINCIPAL TAXPAYERS December 31, 1981 Percentage 1982 of total Market Market Taxpayer Type of Business Valuation Value Equitable Life A ssurance Soc. of America Brookdale $24, 225, 000 3. 3% Brooklyn Center Industrial Land and also Park, Inc. office buildings 16, 287, 600 2. 2 Prudential Insurance Com- Land and also pany of America warehouses 9, 808, 700 1. 4 Brooklyn Center Develop- Land and offices 657, 600 1. 1 ment Company Sears Roebuck and Department store 6, 210, 7D0 9 C ompany Twin Lake North A partments 5, 180, 400 7 Commercial Partners Brookdale S uare 4 975 80� q .7 Donaldson's Store and Department store 4, 755, 800 7 Car Center Allied C entral Stores Dayton-Hudson Corporation Department store 4, 675, 900 6 Center Development Com� pany A partments 4, 416, 400 6 $88, 193, 900 12. 2�fo -97- City of Brooklyn Center TABLE 14 SUMM�RY OF DEBT SERVICE REQiJIREMENTS TO MATURITY December 3i, 1981 Total i Fiscal General ObIigation Bonds G.O. Special Assessment Bonds G.O. State-Aid Street Bonds Water Revenue Bonds Debt Service Requirement Year Principal Interest Principal Intereat Principal Interest Principal Interest principal Interest 1982 135, 000 186, 585 360, 000 $103, 472 60, 000 e 37, 515 $.40, 000 18, 720 595, 000 S 346, 292 1983 180, 000 176, 480 345, 000 84, 665 6Q 000 33, 750 40, 000 17, 160 625, 000 312, 055 1984 195,000 164,050 450,000 66,529 60,000 29,940 40,000 15,600 745,000 276,119 1985 195, 000 150, 495 240, 000 42, 325 60, 000 26. 070 45, 000 13, 991 540, 000 232, 881 1986 210, 000 136, 520 125, 000 28, 185 60, 000 22, 140 45, 000 12, 285 440, 000 199, 130 1987 220, 000 121, 420 115, 000 21, 345 60, 000 18, 165 45, 000 10, 530 440, 000 171, 460 1988 240, 000 105, 520 100, 000 15, 070 60, 000 14, 160 45, 000 8, T75 445, 000 143, 525 1989 250, 000 88, 670 80, 000 9, 330 60, 000 10, 125 45, 000 7, 020 435, 000 15, 145 i990 120,000 71,100 60,000 4,830 60,000 6,075 45,000 5,265 285,000 87,270 1991 280,000 56,420 60,000 1,620 60,000 2,025 45,000 3,510 445,000 63,575 1992 300, 000 34, 810 45, 000 1, 755 345, 000 3B, 565 1993 3 iQ 000 11, 780 310, 000 11, 780 Total $2, 635, 000 $1, 303, 850 $1, 935, OOD $377, 371 $600, 000 $199, 965 $480, 000 $114, 611 g5, 650, 000 1, �J95, 797 City of Brooklyn Center TABLE 15 SCHEDULE OF INSURANCE COVERAGE December 31, 1981 Type of Coverage and Details Policy Period Liability Limits From To I. Statutory Liability to Employees a. Workers' Compensation 1-1-82 1-1-83 Statutory (participant in the League of Minnesota Cities Insurance Trust Self-Insured Workers' Com- pensation Program) II. Liability to the Public a. '�General Liabtlity,, comprehensive 2-1-81 2-1-84 (1) godily injury 500, 000 combined single limit (2) Property damage 500, 000 combined single limit (3) Personal injury 500, 000 combined single limit b. Automobile liability, comprehensive 2-1-81 2-1-84 (1) Bodily injury 500, 000 occurrence (2) Property damage 500, 000 occurrence (3) Uninsured motorist 500, 000 occurence c. Liquor stores' dram shop 1-1-82 1-1-83 500, 000 aggregate per location d. Umbrella liability 5-19-81 5-19-82 5. 000, 000 aggregate, $10, 000 retained lim it III. Loss of Income on City Enterprises a. Liquor stores 2-1-81 2-1-84 50, 000 per location b. Public utilities 2-1-81 2-1-84 300, 000 Buildings Content: Structures (Actual (Replacement Cash Cost) Value) IV. Insurance on City Propert,y a. Public and institutional property, all risk, blanket $11,430,200; $100 deductible 90% 2-1-81 2-1-83 co-insurance stated values (1) Civic center $3, 850, 000 �400, 000 (2) East fire station 414, 000 41, 000 (3) Municipal service garage 850, 000 80, 000 (4) Elevated water towers 3 locations 2, 147, 000 -0- (5) Park shelter buildings 17 locations 1, 039, 000 44, 000 (6) Pump houses 7 locations 362, 000 108, 000 (7) Lift stations 9 locations 417, 000 22, 000 Meter station 12, 000 (9) Storage building 46, OOQ (10) putdoor lighting systems 7 locations 254, 200 (11) Liquor store and fire station 391,000 145,000 (12) Leased liquor stores 2 locations 304, 000 (13) Movable properties 154,974 (14) Pedestrian bridge 363,000 (15) picnic shelter 40, 000 Liability Limits b. Boiler and machinery 2-1-81 2-1-84 $3, 000, 000 per accident c. Automotive physical damage 2-1-81 2-1-83 (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) �'arious c. Depositor's forgery 100, 000 °`The compreher.sive 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) I3road contractual liabili[y. (d) Products liabili[y (e) Public officials liability _gg_ C ity of B rooklyn Cente r TA BLE 16 SCHEDULE OF CASH AND TEMPORARY CASH INVESTMENTS December 31, 1981 Cash in Banks: First Brookdale State Bank, l Brooklyn Center, Minnesota 62, 598 First National Bank of Minneapolis, Minneapolis, Minnesota gqg Temporary Investments: Intere st Type Rate Maturity Cost Certificates of deposit 13. 5Q-17.00% 1982 $3, 625, 000 Savings and Loan certificates 13. 10-16. 75% 1982 204, 400 U. S. Treasury notes 4. 25- 8. 00% 1983-92 227, 016 U. S. Treasury bills 13. 04% 6-24-�82 362, 096 Federal Land Bank bonds 25- 8. 65°jo 1982-87 1, 612, 844 Fe de ral Home L oan Bank bonds 7.65-15.55°J 1982-87 2, 710, 844 Federal National Mortgage Association bonds ?.35-13.75% 1982-85 3, 142, 719 Federal National Mortgage Association discount notes 6.90-18.01% 1982-92 972, 891 Federal Farm Credit Bank bonds 8. 45-15. 00% 1982 625, 051 13, 482, 861 Interfund borrowings -(temporary improvement notes): 1, 886, 000 Accrued interest on investments 620, 567 Change Funds 4 495 Total Cash and Temporary Cash Investments $16, 056, 900 -100- i City of Brooklyn Center MISCELLANEOUS STATISTICAL FACTS December 31, 1981 Date of Incor oration February 14, 1911 P Date of Adoption of City Charter No�rember 8, 1966 Effective December 8, 1966 Form of Government Council-Manager Fiscal Year Begins January 1 Area of City 82 square miles Miles of Streets: C ity 102 State 12 C ounty 6 Miles of Storm Sewers 38 Number of Street Lights 922 Building Permits: Number of Permits Issued: 1981 518 198D 563 1979 606 1978 818 1977 566 1976 568 1975 645 1974 423 1973 390 1972 708 1950 1971 inclusive 12, 763 Estimated Cost: 1981 $16, 190, 205 1979 17, 454, 690 1978 13, 081, 520 1977 6, 228, 087 1976 3, 786, 638 1975 5, 972, 910 1974 6, 968, ].72 1973 5, �10, 140 1972 19, 907, 041 1950 1971 inclusive 161, 132, 483 -101- City of Brooklyn Center i MISCELLANEOUS STATISTICAL FACTS December 31, 1981 Fire Protection: Number of stations 2 Number of Volunteer Firemen 34 Police Protection: Number of Stations 1 Number of Employees 58 Vehicle Patrol Units 15 Parks and Recreation; 288 acres developed for regular use. 226 additional acres of City-owned land designated for parks and playground to be developed. Full-time employees 18 Pa.rt-time employees 200 (seasonal) Playgrounds 17 Park shelters 17 Ice skating rinks 17 Hockey rinks 6 Softball diamonds 23 Baseball diamonds 5 Tennis courts 12 Basketball courts 6 Education: Public Schools: School Districts within Brooklyn Center (4) -102- City of Brooklyn Center MISCELLANEOUS STATISTICAL FACTS December 31, 1981 Education; (continued) No. 11 No. 286 No. 281 No. 279 (Anoka) (Earle Brown)(Robbinsdale) (Osseo) Total school buildings 34 2 21 1$ School buildings within Brooklyn Center 1 2 1 3 'stered 30, 529 1, 327 16, 377 15, ?03 Total students regi Students from Brooklyn Center registered 1, 292 1, 327 700 2, 442 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 ��1981 assessed valuation 552, 01�, 395 60, 059, 208 579, 616, ?56 375, 854, 936 981 ssessed valuation 1 a in Brooklyn Center 19, 146, 834 62, 103, 258 52, 879, 958 48, 968, 091 r chial schools 1 Pa o St. Alphonsus School grade 4- 8- Total Students registered 220 tion rior to fiscal dis arities and tax increment calculations =�Assessed valua p P Municipal Water Plant: Number of connections 8, 225 Average daily consumption 3, 453, 482 gallons Peak daily consumption 1, 331, 000 gallons Plant capacity daily 15, 264, 000 gallons Miles of water mains 109 miles Number of fire hydrants ?78 Number of wells 7 Number of elevated reservoirs 3 Storage capacity 3, 000, 000 gallons Water rate per thousand gallons 35� -103- City of Brooklyn Center MISCELLANEOUS STATISTICAL FACTS December 31, 1981 Municipal Sewer Plant: Number of connections 8, 426 Miles of sanitary sewer 98 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 1981 sales $2, 477, 236 City Employees: A s of December 31, 1981 Permanent or re gular 12 6 Temporary of part-time 123 Total 249 Elections: Registered voters City election 1981 19, 186 Number of votes cast in city election 2, 409 Percentage of registered voters voting 12. 6% Registered voters last state election 22, 530 Number of votes cast last state election 16, 533 Percentage of registered voters voting 73.4�a Popula.t ion 1940 1, 8Z0 1950 4, 284 1960 24,356 1965 (special census) 30, 108 1979 35, 173 1980 31, I6? 1981 30, 990 i _l04- I'