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HomeMy WebLinkAboutAnnual Audited Financial Report-1979 ANNUAL AUDtTED FINANCIAL REPORT r of the t CITY MANAGER of BROOKLYN CENTER, MINNESOTA For The Year Ended December 31, 1979 GERALD G. SPLINTER, CITY MANAGER Prepared by THE DEPARTMENT OF FINANCE Paul W. Holmlund, Director (Member of Municipal Finance Officers Association of the United States and Canada) I J City of Brooklyn Center ANNUAL FINANCIAL REPORT For the Year Ended December 31, 1979 TABLE OF CONTENTS Exhibit Page Number Number Listing of City Officials 1 Organization Chart 2 Location of City Properties 3 Letters of Transmittal 4-14 Certificate of Conformance 15 Financial Statements Section Auditor's Report 16 Combined Financial Statements Comparative Combined Balance Sheet- All Fund Types and Account Groups December 31, 1979 and 1978 1 17 Comparative Combined Statement of Revenues, Expenditures and Changes in Fund Balances- All Governmental Fund Types For the Years Ended December 31, 1979 1978 2 18 Comparative Statement of Revenues Expenditures and Changes in Fund Balance Budget and Actual General Fund For the Years Ended December 31, 1979 1978 3 19 Comparative Combined Statement of Revenues, Expenses and Changes in Retained Earnings or Fund Balance Enterprise Funds and Non-Spendable Trust Funds For the Years Ended December 31, 1979 1978 4 20 Comparative Combined Statement of Changes in Financial Position All Proprietary Fund Types For the Years Ended December 31, 1979 1978 5 21 City af Braoklyn Center ANNL7AL FINANCIAL REPORT For the Year Ended December 31, 1979 TABLE OF CONTENTS Exhibit Page Number Number Notes to Financial Statements Note 1 All Funds 22, 23, 2� 25,,26 Note 2 All Funds Zg Note 3 Municipal Liquor Fund 26 Note 4 P�ablic Utilities Fund 27, 28 Note 5 Public Utilities Fund 28, 29 Note 6 Special Assessment Funds 29 Note 7 Pension Plans and Pension Funds 29 Note 8 Investment Trust Fund 30 Note 9 Brooklyn Center Housing and Redevelopment Authority 30 Note 10 Capital Projects Funds 30 Combinin� Financial Statements General Fund Statements Comparative Balance Sheet D ecem ber 31, 197 9 and 197 8 6 31 Comparative Statement of Changes in Fund B alance For the Years Ended December 31, 1979 1978 7 32 Comparative Statement of Revenue, Appropriations From Fund Balance, Expenditures, Encumbrances and Transfers For the Years Ended December 31, 1979 1978 8 33 Cit of Brookl n Center Y Y AN1�TiAL FIN�CIAL REPORT For the Year Ended December 31, 1979 TABLE OF CONTENTS Exhibit P �ge Number Number General Fund Statements (Continued) Statement of Revenue-Budget and Actual- Objective Classification For the Year Ended December 31, 1979 and 1978 Schedule 1 34, 35 Comparative Statement of Expenditures and Encumbrances Budget and Actual Classified as to Activity, Character and Object For the Years Ended December 31, 1979 and 1978 Schedule 2 36 Special Revenue Funds Statements Comparative Combining Balance Sheet December 31, 1979 and 1978 9 37 Comparative Combining Statement of Revenues Expenditures and Changes in Fund Balance For the Years Ended December 31, 1979 1978 10 38 Debt Service Funds Statements Comparative Combining Balance Sheet December 31, 1979 and 1978 11 39 Comparative Combining Statement of Revenues, Expenditures and Changes in Fund Balances For the Years Ended December 31, 1979 1978 12 40 Capital Projects Funds Statements Comparative Combining Balance Sheet December 31, 1979 and 1978 13 41 Comparative Combining Statement of Revenues Expenditures and Changes in Fund Balances For the Years Ended December 31, 1979 1978 14 42 Statement of Unexpended Appropriations By Project Lawcon Fund For the Years Ended December 31,1979 1978 Schedule 3 43 City of Brooklyn Center M ANNUAL F INANCIAL REPORT For the Year Ended December 31, 1979 TABLE OF CONTENTS Exhibit Page Number Number Special Assessments Funds Statements Comparative Combined Balance Sheet December 31, 1979 and 1978 15 44, 45 Comparative Statement of Construction Appropriations and Expenditures For the Years Ended December 31, 1979 1978 16 46 Comparative Combining Statement of Revenue Expenditures and Changes in Fund Balances For the Years Ended December 31,1979 1978 17 47 Enterprise Funds Statements Comparative Combining Balance Sheet December 31, 1979 and 1978 18 48 Comparative Combinin� Statement of Operations and Retained Earnings For the Years Ended December 31, 1979 1978 19 49 Comparative Combining Statement of Changes in Financial Position For the Years Ended December 31, 1979 1978 20 50 Compaxative Statement of Operating Expenses- Municipal Liquor Fund For the Years Ended December 31, 1979 1978 Schedule 4 51 Comparative Operating Expenses Water Department For the Years Ended December 31, 1979 and 1978 Schedule 5 52 Comparative Operating Expenses i Sewer Department For the Years Ended December 31, 1979 and 1978 Schedule 6 53 Statement of Utility Plant in Service and Allowance for Depreciation December 31, 1979 Schedule 7 54 City of Brooklyn Center ANNUAL FINANCIAL REPORT For the Year Ended December 31, 1979 TABLE OF CONTENTS Exhibit Page Number Number Trust and Agency Funds Statements 1 Comparative Combining Balance Sheet December 31, 1979 and 1978 21 55 Comparative Combining Statement of Revenues, Expenditures and Changes in Fund Balances For the Years Ended December 31, 1979 1978 22 56 General Fixed Assets Statement Statement of Changes in General Fixed Assets 23 57 General Lon�-Term Debt Statement Comparative Statement of General Long-Term Debt 24 58 Statistical Information Section General Governmental Expenditures by Function Schedule 8 59 Revenues Other Than Special Assessments Schedule 9 60 Tax Levies and T� Collections Schedule 10 61 Assessed Value and Market Value of All Taxable Property Schedule 11 62 Tax Rates and Tax Levies Schedule 12 63 Notes to Tax Rates and Tax Levies Schedule 13 64 Special Assessment Collections Schedule 14 65 Ratio of Net Bonded Debt to Assessed Value and Net Bonded Debt Per Capita Schedule 15 66 Computation of Direct and Overlapping Debt Schedule 16 67 Statement of Legal Debt Margin Schedule 17 68, 69 City of Brooklyn Center ANNUAL FINANCIAL REPORT For the Year Ended December 31, 1979 TABLE OF CONTENTS Exhibit Page Number Number Statistical Information Section (Continued) Ratio of Annual Debt Service Expenditures for General Bonded Debt to Total General Expenditures Schedule 18 70 Schedule of Revenue Bond Coverage Schedule 19 71, 72 Summary of Debt Service Requirements to Maturity Schedule 20 73 Schedule of Ten Largest Taxpayers in Brooklyn Center Schedule 21 74 Schedule of Insurance Coverage Schedule 22 75 Miscellaneous Statistical Facts Schedule 23 76, 77, 78 i City of Brooklyn Center LISTING OF CITY OFFICIALS For the Year Ended December 31, 1979 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 Councilm an Gene Lhotka Three Years 12- 31- 82 Councilwoman Cecilia Scott Three Years 12-31-80 Officials Not Elected City Manager Gerald G. Splinter City Clerk Allen S. Lindman City Treasurer Paul W. Holmlund City Attorney Richard Schieffer Administrative Assistant Thomas Bublitz Administrative Assistant Brad Hoffman Department Heads Finance Paul W. Holmlund Public Works Sy Knapp Police James Lindsay Fire Ronald Boman Planning and Inspection Ronald Warren Park and Recreation Eugene Hagel Assessment P.eter Koole Liquor Stores Truman Nelson Engineering Superintendent James Noska Street and Park Superintendent Henry Davis Public Utilities Superintendent Frank Smith, Jr. Recreation Superintendent Arnold Mavis Health Officer Duane O�n, M.D. �re Marshal Fred Steere Sanitarian Thomas Heenan Civil Defense Coordinator James Lindsay la Cit of Brookl n Center Y Y LISTING OF CITY OFFICIALS At May 31, 1980 Elected Officials Term of Office Term Expires Mayor Dean Nyquist Two Years 12-31-81 Councilman Tony Kuefler Three Years 12-31-81 Councilman Bill Fignar Three Years 12-31-81 Councilman Gene Lhotka Three Years 12-31-82 Coun�lwoman Ceci.lia Scott Three Years 12-31-80 Officials Not Elected City Manager Gerald G. Splinter City Clerk Allen S. Lindman City Treasurer Paul W. Holmlund City Attorney ftichard Schieffer Administrative Assistant Thomas Bublitz Administrative Assistant Brad Hoffman Department Heads: Finance Paul W Holmlund Public Works Sy Knapp Police James Lindsay Fire Ronald Boman Planning and Inspection Ronald Warren Parks and Recreation Eugene Hagel Assessment Peter Koole Liquor Stores Truman Nelson Engineering Superintendent James Noska Street and Park Superintendent Henry Davis Public Utilities Superintendent Frank Smith, Jr. Recreation �uperintendent Arnold Mavis Health Officer Duane Orn, M,D. Fire Marshal Gerald Pedlar Sanitarian Thomas Heenan Civil Defense Coordinator James Lindsay lb ORGANI ZATI ON CHI�R'P COUNCIL MANAGER PLAIV City of Brooklyn Center, Minnesota ADVISORY ELECTORATE CHARTER COMMISSION rovement Review Bd. Capital Imp ADVISORY Youth Advisory Commission ADVISORY CITY COUNCIL Housing Commission ADVISORY CITY ATTORNEY Conservation Commission ADVISORY City Manager Administrative Assistant City Clerk Hurnan Rights Commi ssion I Purchasing Officer ADVI SURY 1_ Parks and Recreation Commission ADVISORY Administrative Assistants_ Planning Commission Civil _Defense J I I I� t 1 I I I DIRECTOR DIRECTOR CHIEF DIRECTOR DIRECTOR CHIEF MANAGER DIRECTOR ASSESSOR Planning Finance Police of Parks and Volunteer Liquor Public Tax and Department Department Environmental Recreation Fire Store Works Assessmen� Inspection City Health Department Department Department Departsnent Departr�ent Treasurer Department City Enqineer Government Buildings Engineering Street Public Division Division Utilities_ i I City of Brooklyn �ent�a Lccation �f City Properties Decemt��r 31 19"?8 i 'I i I f I t H 1 4 G i e i 1 1 �d j 4 0 �r 1 I. s t 1 i i J f 1 j I l f i; .acr-�' 'f� c. L sar.� O I i I r r L l' 1 .�j,� �ri Ie�~ l r _{'i N i��y_ �A�A� I 1 r j�, M i f I "�r•i!' lv`ri;� �i j T� i i'� J��i i 1�i� r i f Z� I� 1 j. �i e� I� j��� i t d �J i Q ♦�14 r I (I 1 Y i� T Park SVstem Key l 1. Willow Lane P�r)�: h 2. Orchard Lane Park 3 Kylawn Fark 4. Lakeside Park nu' 5. Brooklane Park 6. Wangstad park City General Properties 7. Northport Park A Vacant 8. Ha ppy Hollow B. Water Tower 9. PaYmer Lake Park C. West Fire Station Liquor Store $#2 1Q. Gar�en City Par}: D. Library (Land Only-County Library) 11. Proposed Park E. Liquor Store #�3 (located c�n leased 12. Li��ns Park pr��perty (Northp�ri. Shoppinc� 13. Grandview park Center) 1 Everyreen �ar}: F. G. Vacant 15. Betl��i�e Par?. H. Well I��. Marlin Parl; I. Garaye 2 wells b, 1 water tank 17. F.irehuuse p;�rk J. Liquor Store #1 I8. Riverdale I��,rk K. C�>n�n�us�ity Center Central Park 19. Free�aay Par}: L. Mu��icipal Service G<�rage 20. Ri.��er Ricl��e F��3r}; (Mis�.RivE�r) hl. East Fire Station (Stat �wn�cll 21. `Pwin Lake f3�arh Park (Citv ti �t�t�� own�c3) CITY OF 6301 SHINGLE CREEK PARKWAY B BROOKLYN CENTfR, MINNESOTA 55430 ROOKLYN TELEPHONE 561-5440 C E N EMERGENCY-POUCE-FIAE TER 561-5720 June 2, 1980 f HONOF.ABLE MAYOR AND CITY COUNCIL CITY OF BROOKLYN CENTER Section 7.12 of the City Charter requires the City Manaaer to submit an P,nnual Audited Report to the Council covering the entire financial operations of the City for the past year. The P�nual Audited Financial Report of the City for the year ended December 31, 1979, p repared by the Department of Finance under my general supervision, is submitted for your consideration. Res 1 d, er Spli City aqer GGS:dkw CITY OF BF.00KLYN CENTER 4- m� CITY OF 6301 SHINGLE CREEK PARKWAY B v� BROOKLYN CENTER, MINNESOTA 55430 ROOKL 1 TELEPHONE 561-5440 E N T ER EMERGENCY-POLICE-FIRE 561-57Z0 May 26, 1980 Mr. Gerald G. Splinter City Manager Brooklyn Center, Minnesota Dear Mr. Splinter: The Annual Financial Report of the City of Brooklyn Center, 1�9innesota, for the year ended December 31, 1979 is submitted herewith. THE REPORT The organization, form and content of this report has been pre- pared 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 State Auditor, State of Minnesota, and the Brooklyn Center Charter. The format is consistent with the prior year and con- forms to the audit guide for Audits of State and Local Governmental Units. CERTIFICATE OF CONFORC9ANCE On January 14, 1978, the Municipal �nance Officers' Association of the United States and Canada (MFOA) certified that the Annual Audited Financial Report of the City of Brooklyn Center for the year 1976 con- formed to the principles and standards of public financial reporting as promulgated by the MFOA and the National Council on Governmental Accountin�. A Certi�cate of Conformance is awarded b�r the MFOA only to the governmental unit whose financial report is judg;ed to conform substantially to the high standards for �nancial reportin� established by the Association. These standards are contained in publications of the National Council on Governmental Accounting. On November 23, 1979, the City was informed by the MFOA that the Annual Audited Financial Report for the year 1978 had successfully passed the Annual Conformance Review. I believe the report herewith submitted continues to conform substantially to such standards. ORGANIZATION Brooklyn Center was incorporated as a Villa�e 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 b,y a referendum vote of the people. -5- The form of government established by the Charter is the "Council-Manager Plan" The Council exercises the legislative power of the City and determines 'all matters of policy. The Council is com- posed of a Mayor'and four Councilpersons who are elected at large. Each Councilperson serves a term of three years and the Mayor serves 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 finances of the City as the Council may require. The offices of City Clerk and City Treasurer are subordinate to and appointed by the City Manager. The City Clerk has duties in connection with the keeping of the 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. Appoint- ment or removal of departmenf heads are made final upon a majority vote of the Council. The City carries faithful performance blanket bond coverage in the amount of $20 000 on all City employees GENERAL OPERATIONS The City, in addition to the usual activities such as general government, public safety and welfare, highways, recreation and parks; operates three off-sale liquor stores and a public sewer and water utility. Net revenues produced in excess of worl�ng capital requirements by municipal liquor store operations have been used toward financing current e�ense and capital outlay programs of the City General .Fund. The net revenues of the sewer and water utility has been re- tained within Public Utilities Fund and employed for sewer and water utility purposes ACCOUNTING BYSTEM The accounting for all activities of the City is divided into various purpose groups or funds as required by the statue and /or good accounting practice. Except for minor variances, all funds are maintained on an accrual basis and in conformity with generally accepted accounting prin- ciples applicable to governmental entities as set forth by the National Council on Governmental Accounting. -6 i The accounts of the City are classified in conformance with classification prescribed by the State Auditor's Office. The accounting system used for the Public Utilities Fund is adopted from a system specifically designed for municipally-owned utilities by the American Water Works Association. Accounting and bookkeeping for all City activities are centralized under the Department of Finance. The responsibility for maintaining and prescribing all financial records, establishing and maintaining internal control, and preparing financial and budgetary reports is delegated to this department. FINANCIAL CONTROL AND THE BUDGET The City Charter grants the City Council full authority over the financial affairs of the City. The Charter requires that all funds of the City except funds made up of proceeds of bond issues, public service enterprise funds, and special assessments funds, be budgeted. The City Manager is charged with the responsibility of perparing 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. Governmental budget procedures are not used in connection with the liquor stores or public utilities operations, because these operations are primarily �f commercial nature and employ concepts peculiar to revenue praducing entities. A summary of the budget document as originally adopted (prior to subsequent amendments) for the calendar year 1979 follows: Proposed Expenditures (Public Service Enterprise Excluded) City operations General Fund) $4, 570, 677 Park Bond Redemption Fund 22, 800 1969 Building and Improvement Bond Redemption Fund 231, 200 Total Proposed Expenditures $4, 824, 677 i _7_ i Proposed Source of Financing: Taxation (See summary of taxation pre- sented below) $2,273,295 Intergovernmental (State and Federal R.evernae) 1,750,502 Tax penalties 25,000 Local Revenue: General gc�vernment services 381, 880 Permits and licenses 147,000 Court fines 65 000 Miscellaneous revenue 57 000 Transfers-in: Liquor fund 125 000 Total Proposed Financin� $4, 824, 677 Ad valorem tax levies for the current year 1979 and for the two previous years (1978 and 1977) are summarized and presented below: 1979 1978 1977 Mill Mill Mill Tax Levy Rate Amount Rate Amount Rate Amount City Operations 14.150 $1,831,293 13.001 $1,609,474 11.260 $1,263,539 Debt Redemption Funds 1.962 254,000 2.219 274,600 2.272 279,100 Public Employees' Retirement F�irr31. 453 188, 002 1. 080 133, 547 1. 026 126, 000 Policemen's Pen- c sion Fund -0- -0- 009 1,111 .111 13, 583 Firemen's Relief Association -0- -0- -0- -0- .004 480 Total Levy 17.565 $2,273,295 16.313 $2,018,732 15.323 $i,881,960 1979 1978 1977 Assessed Valuation Real Estate $126,968,242 $121,617,308 $119,487,379 Non-exempt personal property 4,389,397 3,537,911 3,034,703 FYscal disparities adjust- ment 1,464,192) 1,190,083) 201,206) t Total Assessed Valuation $129, 893, 447 $123, 965 ,136 $122, 320, 876 g_ The financial condition of each fund as of December 31, 1979 and the results of each Fund's operations for the year, together with a com- parison 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 FUND As of December 31, 1979, the fund balance of the General Fund which had not been appropriated to a specific expenditure purpose totaled $2, 538, 211. This amount represents the worl�ng capital that is avanlable to finance general operations of the City. Considering the time lag relating to tax oollections Eapproximately seven months) and based on the anticipated needs of the 1980 budget, the working capital accumulation appears to be conservatively adequate with- out margin for down turn of revenues. It appears advisable that the entire fund k�alance should be dedicated to�:the working capital need without further appropriation to expenditt,�re. Revenues received for general government operations totaled $4, 983, 096 in 1979, an increase of $884, 702 over the previous year. The following table presents an analysis of the major revenue sources of the General Fund for 1979 and its changes from 1978: Increase of (Decrease) Revenue Source 1979 Total 1978 From 1978 Taxes, ad valorem $2,131,443 42.8$ $1,650,791 480,652 Intergovernmental revenue 1,298,545 26.1$ 1,173,054 125,491 Charges for services 465, 885 9. 3% 360, 488 105, 397 Licenses and permits 186, 464 3. 7$ 179, 062 7, 402 Court fines 82 466 1. 7 0 68, 281 14,185 Miscellaneous revenue 135, 889 2. 7$ 92, 638 43, 251 Other sources 682,404 13.7% 564,727 117,677 Appropriations from fund balance -0- -0- 9,353 9,353) Total Reve $4,983,096 100.0$ $4,098,394 884,702 Expenditures for general governmental operations totaled $4, 238, 513 in 1979, an increase of $623,103 over the previous year. The following table presents an analysis of the major expenditure function of the General Fund for 1979 and its change from 1978: g_ 1 I ncre ase of (Decrease) Expenditure By Function 1979 Total 1978 From 1977 General Government 688,539 16.2$ 868,776 180,237) Public Safety 1, 521,159 35. 9 0 1,151, 480 369, 679 Public Works 892, 470 21.1% 733, 615 158, 855 Community Health Service 48, 576 1.1$ 66, 423 17, 847) Parks and Recreation 860, 283 Z0. 3 0 705,116 65,167 Other uses 227,486 5.4$ -0- 227,486 Total Expenditures $4, 238,513 100. 0% $3, 615, 410 623,103 The complete reporting of the General Fund financial operations and position can be found in the General Fund Statements section of this report LEVY LIMITATIONS Minnesota's Levy Limitation Law was first implemented in 1972 and has placed a limitation on the amount of increased property tax which a city can levy. The amount of increase is generally limited to 6$ per capita per year. The following table summarizes the City's compliance with the law for 1977 through 1979: 1979 1978 1977 Total tax levy $2,273,295 $2,018,732 $1,881,960 Less special tax levies 494, 033 449, 581 473, 028 Limited levy $1,779,262 $1,569,151 $1,408,932 Levy limitation l, 858, 367 1, 821, 608 1, 649, 898 Under levy 79,105 252, 457 24Q, 966 FISCAL DISPARITIES The State Legislature enacted a"Fiscal Disparity Law" in 1971 which was not implemented until taxes payable in 1975 due to a consti- tutional challenge. The law provides for the "pooling" of 40$ of all new commercial and industrial property valuation in the seven county metropolitan area. Valuatio� from this "pool" is redistributed to taxing jurisdictions according to specified criteria. The impact of the disparity laNr on Brooklyn Center is shown below. The City has in the last six years contributed $4,093,274 in assessed valuation since the inception of the law. The fiscal disparities adjustments for the six years are shown as follows: -10- ye� Assessed Assessed Value Net R.eceived 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 3,880,301 133,422 197? 3,726,462 3,525,256 201,206) 197g 4,856,260 3,666,177 (1,190,083) 1979 6,172,992 4,708,800 (1,464,192) 1980 8,086,801 6,254,605 (1,832,196) Six Year Total $28, 944, 635 $24, 851, 361 4, 093, 274) FEDERAL REVENUE SHARING The City was allocated $219, 671 in Federal Revenue Sharing funds during the calendar year 1979. During the year, the City Council authorized transfers of $476, 364 to the General Fund from the Federal Revenue Sharing Fund to finance approved revenue sharing appropriations. Th� complete reporting of the Federal Revenue Sharing Fund's financial operations and position can be found in the Special Revenue Funds Statements section of this report. OTHER SPECIAL REVENUE �FUNDS Special Revenue Funds are so classified because special accounting procedures are reqLrired by some authority other than the City. Special Revenue Funds of the City, in addition to the Federal Revenue Sharing Fund are the Anti-Recession and Diseased Tree Re- moval Fund. The complete reporting of these funds financial operations and position can be found in the Special Revenue Funds Statements section of this report CAPITAL PROJECTS FUNDS The Capital Projects Funds of the City include the following: Lawcon Fund: Established to account for federal and state land and wa�er conservation funds expended on developing certain park lands Open Space Land Acquisition Fund: Established to account for federal and state funds expended on the acquisition of public open space lands within the community. Capital Projects Fund: Established to account for funds from various sources expended on certain major, permanent facilities -11- Community Development Block Grant Fund Established to account for funds 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 Municipal State Aid for Construction Fund Established to account for funds received 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 DEBT ADMINISTRATION Outstanding general obligation bonds on December 31, 1979, totaled $4,920,000 of which $2,805,000 was issued to provide permanent financing for water, sanitary sewer, storm sewer and street assessments. 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 $700,000 of G.O. State Aid Street Bonds which were issued to finance state aid projects and are repaid from state allotments. The remaining $1,405,000 is direct tax supported debt which is repaid by the proceeds of ad valorem tax levies. During the past year $705,000 of general obligations bonds were retired. Outstanding revenue bonds on December 31, 1979 totaled $555,000. These are bonds issued in 1963 for improvements to the water utility and are repaid from the public utilities revenues. During the past year, $35,000 of revenue �onds were retired. The City has a current Moody's Investors Service bond rating of "A" PUBLIC UTILITIES Comparative data for the City's Public Utilities operations for the past two fiscal years are shown in the following table: 1979 1978 Water Department operating revenues $400,308 $457,851 Sewer Department operating revenues 789, 591 604, 649 Water Department operating income 51, 493 133,125 Sewer Department operating income of (loss) 136,170 (74, 201) Combined utilities net income 187,663 351,732 Water customers at year end 7,932 Sewer customers at year end 8, 263 The Water Department operating revenues are to be used to f�nance system maintenance and future system expansion and improvements. The complete reportang of the Public Utilties' financial operations and position can be found in the Enterprise Funds Statements section of the report -12- LIQUOR FUND The City'� three municipal off-sale liquor stores earned a com- bined net profit of $161,994 for the calendar year ended December 31, 1979. 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' 1979 operations with those of 1978 follows: 1979 1978 Sales $2,289,874 $2,109,778 Cost of sales 1,839,003 1,709,303 Gross profit on s ales 450 871 400 475 Operating expenses 302, 360 272, 335 Net operating ineome 148, 511 128,140 Interest and other inoome 13, 483 6, 701 Net Income 161, 994 134, 841 1979 1978 Transfers to the General Fund 125 000 140, 000 The complete reporting of the Liquor Fund's financial operations and position can be found in the Enterprise Funds Statements section of this report INVESTMENT TRUST FUND The Investment Trust Fund was established to provide a uniform and consistent means for investing temporary surplusses of individual City Funds. The Investment Trust Fund, in turn, invested these temp- orary surpluses in obligations issued by the United States and its agencies, bank certificates of deposits, repurchase agreements, savings and loan associations' savings certi$cates 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 8.45� and the Fund distributed $978,181 in interest earnings to the participating funds The complete reporting of the Investment Trust Fund's $nancial opeartions and position can be found in the Trust and Agency Funds Statements section of this report. SPECIAL ASSESSMENT FUNDS Special Assessment Funds are used to finance and account for the construction and financing 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 ag�nst the individual prop- erty owners which are usually pand in installments over a period of years. -13- The complete reporting of the Special Assessment Fund's fin- ancial operations and position can be found in the Special Assessments Funds Statements section of this report. GENERAL FIXED ASSETS The general fixed assets of the City are those fixed assets 1 used in the performance of general governmental funetions and exclude the fixed assets of the Public Utilities Fund and the Liquor Fund. As of December 31, 1979, the general fixed assets of the City amounted to $17 477 725 based on original cost Depreciation of general fixed assets (other than for enterprise fund, i.e. Public Utilities and Liquor) is not recognized in the City's accounting system or in these financial statements. 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 to the General �Yxed 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. Respectfi�l��� �t�.�s�itted, W Paul W Holrnlui:� Director of Finance -14- CITY OF BROOKLYN CENTER, MINNESOTA 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 our Annual Financial Report for the fiscal year ended December 31, 1976. In order to be awarded a Certificate of Conformance, a govern- mental unit must publish an easily readable and efficiently organized comprehensive annual financial report whose contents conform to industry standards. Such report must satisfy both generally accepted accounting principles and applicable legal requirements. A Certificate of Conformance is valid for a period of three years subject to two annual reviews. Our comprehensive annual financial reports for the fiscal years ended December 31, 1978 and December 31, 1977, successfully passed their required Annual Reveiws. We believe our current report continues to conform to Certificate of Conformance Program require- j ments, and we are submitting it to MFOA to determine its eligibility for a supplemental certificate. DEPARTMENT OF FINANCE CITY OF BROOKLYN CENTER 15- SUPPLEMENTAL Certificate of Conformance in Financial Reporting Presented to �it of 3roo n �enter �in�1esot 1 y y a For its Annual Financial Report for the Fiscal Year Ended `�¢ce�nber 3I, 1976 A Certificate of Conformance in Financial Reporting is presented by the MunicipaL Finance Officers Association of the United States and Canada to govemmental units whose annual financial reports are judged to substantially conform to the financial reporting principles and standards promulgated by the National Council on Govemmentat Accounting. Pre nt I xecutive Dtrecror Date .�c�n��4ry �3,t9te. I MOEN AND PENTTILA, LTD. CERTIFIED PUBUC ACCOUNTANTS SUITE 203 VALLEY SOUTH BUILDING MEMBea oF 6950 WAYZATA BOULEVARD (612) 546-3306 AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS MiNNEAPOLIS. MINNESOTA 55a26 June 13, 1980 Honorable City Council City of Brooklyn Center, Minnesota We have examined the financial statements of the various funds and account groups of the City of Brooklyn Center for the year ended Decembei� 31, 1979 listed in the foregroing table of contents. Our examination was made in accordance with generally accepted auditin� stan- dards and accordingly included such tests of the accounting records and such other auditing procedures as we considered necessary in the cir- cumstances. In our opinion, the aforementioned financial statements present fairly the financial position of the various funds and account groups of the City of Brooklyn Center at December 31, 1979 and the results of operations of such funds and the changes in financial position of the Public Utility Fund and Municipal Liquor Fund for the year then ended, in conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding year. Respectfully submitted MOEN PENTTILA, LTD. Field work completed May 23, 1980 Report signed June 13, 1980. -16- i City of Brooklyn Center Exhibit 1 COMPARATIVE COMBINED BALANCE SHEET All Fund Types And Account Groups Fiduciary Account Groups Governmental Fund Types Proprietary Fund Types General General Totals Special Debt Capital Special Fund Types Trust And Fixed Long-Term December 31, General Revenue Service Projects Assessments Enterprise Agency Assets Debt 1979 1978 ASSETS Assets And Resources Cash on hand and in depositories 32,953 3,700 238,136 274,789 251,2ll Temporary investments 2,524,871 670,078 341,885 2,584,575 2,677,240 952,296 91,754 9,842,999 7,950,794 Keceivables (Net of allowances for uncollectibles) Taxes 111,885 21,157 13,000 146,042 170,177 Accounts 28,366 3,143 37,549 98,125 167,183 188,913 Special assessmenfs 2,423,711 16,449 2,440,160 3,455,274 Accrued revenue 131,629 303,888 435,517 368,876 City share of improvements 189,741 189,741 Due from other funds 400,188 6,300 429 95,060 15,380 586 228,662 746,605 443,185 D ue from other governmental units (Note10) 81,167 73,061 1,788,940 1,439 60,888 3,979 2,009,474 799,568 Inventories and supplies 59,043 245,775 304,818 258,022 Prepaid expenses and deferred charges 17,805 43,125 60,930 66,253 Securities held for investments 13,521,185 13,521,185 11,246,364 Restricted investments and other assets (Notes 3, 9, 5) 4,182,153 4,182,153 4,053,840 Property, plant and equipment 12,792,396 $17,477,725 30,270,121 28,652,768 Less: Accum ulated depreciation (2,713,170) (2,713,170) (2,536,600) U nassessed oonstruction 2,072,300 2,072,300 599,450 Amounts av ffilable in Debt Services Funds 363,471 363,491 334,815 Amounts to be provided for general long-term debt 1,884,111 1,884,111 2,155.067 TOTAL ASSETS 3,238,473 752,582 363,471 4,468,875 7,435, $15,813,952 $14.900,604 $17,477,725 2,247,582 $66,198,429 $58,457,977 LIABILITIES AND FUND EQUITY Liabilities Temporary loans 586 586 Account payable 126,259 341 41,705 285,219 108,182 25,299 586 246,614 Contracts payable 5,400 341,222 348,283 694,905 127,826 Due to other funds 231,408 289,185 94,827 113,499 13,846 3,840 746,605 443,185 Accrued expenses 122,175 164 102,996 25,169 250,504 209,736 Construction loans payable 511,000 811,000 626,877 Assessments payable on eity properties 132,582 132,582 164,882 Special assessment bonds payable 2,805,000 2,805,000 3,300,000 Revenue bonds payable 555,000 555,000 590,000 General obligation bonds payable 2,115,000 2,115,000 2,325,000 Due fo funds participating in Investment Trust Fund 13,576,304 13,576 11,527,091 C ustomer and contractor deposits 136,120 136,120 31,825 Deferred credits 323,571 323,571 339,48$ TOT AL LIABILITIES 479,842 294,926 478,504 4,465,997 1,025,768 $13,741,513 2,247,582 $22,734,132 $19,932.524 Fund Equity Contributed capital $10,021.876 $10.021.876 $10.012,791 Investment in general fixed assets $17.477.725 17.477.725 15.920.417 Retained earnings: Reserved for debt retirement 132.850 I32_R5n 134,424 ?teserved for construc±ion(Note 7f,.230 76,230 70.298 Rescrved for workln� c.pitrl 20,000 Unreserved designated for plant ..2Q,000 ._20 000 ekpansion 3,601,017 3,601,017 3,463,865 Undesignated 936,211 936,211 485,833 Reserve for encum brance 220,920 220,420 46,307 Fund balance: Appropriated 286,077 363,471 928,302 2,969,168 4,547,018 3,104,091 Unappropriated 2,538,211 171,579 3,062,069 659,091 6,430,950 5,267,427 TOTAL FUND BALANCE 2,538,211 457,656 363,471 3,990,371 2,969,168 659,091 $10,977,968 8,371,518 TO T AL FUN D EQ UITP 2,758,631 457,656 363,971 3,990,371 2,969,168 $14,788,189 659,091 $17,477,725 $43,464,297 $38,525,453 T O T AI. LIABILITIES A ND Pl NP E�IUIT Y 3,238,473 752,582 363,471 4,468,875 7,935,165 $]5,813,952 $14,400,604 $17,977,725 2,247,582 $66,195,429 $58,457,977 (See notes to the financial statements) This statement is an integral part of report dated May 23, 1980 City of Brooklyn Center Exhibit 2 COMPARATIVE COMBINED �1'A'1'�; JES, EXPENDITURES AND CHANGES IN FUND BALANCES All Governmental Fund Types For The Years Ended Speciai Debt Capital Sperial December 31, General Revenue Service Projects Assessments 1979 1978 Revenues Taxes 2,131,443 254,000 2,385,443 1,925,391 Licenses and permits 186,464 186,464 179,062 Intergovernmental revenue 1,298,545 244,119 26,850 1,454,607 3,024,121 1,863,777 C harges for services 465,885 19,933 485,818 360,488 Fines and forfeits 82,466 82,466 68,281 Interest 66,537 28,774 210,796 3r2;�9Q; 678,297 612,518 Miscellaneous 135,889 4,880 140,769 302,092 TOTAL REVENUES 4,300,fi92 330,589 309,624 1,670,283 372,190 6,983,378 5,311,609 j Expenditures C urrent General government 688,539 688,539 868,776 Public safety 1,521,159 1,521,159 1,151,480 Streets and highw ays 892,470 892,470 733,615 Community health services 48,576 45,576 66,423 Parks and recreation 860,283 32,826 893,109 795,116 Other uses 227,4H6 227,486 15,911 Capital outlay 638,094 638,094 132,999 Debt service Principal retirement 210,000 210,000 220,000 Interest and fiscal charges 147,807 140 177,497 325,444 367,263 Write-Off of taxes and interest 25,419 25,419 I TOTAL EXPENDITURES 4,238,513 32,826 357,807 638,234 202,916 5,470,296 4,351,583 I Excess Revenues Over (Under) Expenditures 62,179 297,763 (48,183) 1,032,049 159,274 1,513,082 960,026 I Other FYnancin� Sources (Uses) Transfers frnm (to) f'und balance (31,877) 680,826 648,949 129,341 Transfers from other funds 682,404 5,400 76,839 131,895 896,538 644,253 488 200 211 984 700 184 277 083 T r o h r funds ransfe s t ot e TOTAL OTHER FINANCING SOURCES (USES) 650,527 $(482,800) 76,839 (80,089) 680,826 845,303 496,511 Excess Of Revenues A nd Other Sources Over (U nder) Expenditures And Other Uses 712,706 $(185,037) 28,656 951,960 850,100 2,358,385 1,456,537 Fund B alance January 1 1,825,505 642,693 334,815 3,038,411 2,119,068 7,960,492 6,503,955 Fund B alance Decem ber 31 2,538,211 457,656 363,471 3,990,371 2,969,168 $10,318,877 7 (See notes to the financial statements) This statement is an integral part of report dated May 23, 1980 Exhibit 3 City of Brooklyn Center COMPARATIVE STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE General Fund For the Years Ended December 31, 1979 and 1978 1979 1978 Actual Amended Over Under Budget Actual Bud�et Actual Revenue S chedule 1 Ad valorem taxes 2,044,295 2,131,443 87,148 1,650,791 Licenses and permits 147 000 186, 464 39, 464 l� 9, 062 Intergovernmental revenue 1,317,071 1,298,545 (18,526) 1,173,054 Charge5 for services 427 880 465 885 38, 005 360 488 Court fines 65 000 82 466 17 466 68, 281 Miscellaneous revenue 33 918 135 889 101, 971 92 638 Other sources 692,577 682,404 (10,173) 574,080 TOTAL REVENUE AND OTHER SOURCES (Schedule l) 4,727,741 4,983,096 255,355 4,098,394 Expenditures and Encumbrances (Schedule 2 General government 764,294 68$,539 (75,755) 868,776 Public safety 1,592,084 1,521,159 (70,925) 1,151,480 Streets and highways 1, 026, 465 892, 470 (133, 995) 733, 615 Community health services 69,070 48,576 (20,494) 66,423 Parks and recreation 930,035 860,283 (69,752) 795,116 Other uses 345,793 227,486 (118,307) TOTAL EXPENDITURES AND ENCUMBRANCES (Schedule 2) 4,727,741 4,238,513 (489,228) 3,615,410 Excess of Revenue,� Over (Under) Expenditures -0- 744,583 744,583 482,984 Appropriated from fund balance for budget 31,877) 9, 353) Net Increase In Fund Balance 712,706 473,631 Fund Balance January 1 1,825,505 1,351,874 Fund Balance December 31 2,538,211 1,825,505 (See notes to financial statements) This statement is an integral part of report dated May 23, 1980 -19- City of Brooklyn Center Exhibit 4 COMPARATIVL' COD7BINED STATEhIENT OF REVENUES, BXPENSES AND CHANGES IN RETAINED EARNINGS OR FUND BALANCE Enterprise Punds And Non-Spendable Trust Funds Enterprise Funds Fiduciary Por the Years Ended Liquor Public Utility P'und Type December 31, Fund Fund Total Trust and AQency 1979 1978 Revenues: C harges for services 1,150,775 1,150,775 1,150,775 997.669 G rnss m argin on product sales 950,87] 950,871 450,871 400>475 Interest 6,965 382,345 389,310 1,019,155 1,408,965 1,111,892 Other revenue 6,608 39,124 45,732 27,751 73,983 1,255,367 T axes 43,255 43,255 175,940 Intergovernmental revenue 99,163 49,163 101,323 TOTAL REVENUES 464,444 1,572,244 2,036,688 1,139,324 3,176,012 4,042,666 Expenses: Personal services 173,170 159,267 332,437 332,937 290,788 Contractual services 54,921 598,958 653,879 653,879 663,114 Supplies and materials 8,174 26,832 35,006 35,006 26,353 o Insurance 21,330 7,252 28,582 28,582 32,844 Rent and administration 35,984 32,108 68,092 68,092 66,480 Interest 23,078 23,078 23,078 24,447 Depreciation 8,781 177,819 186,600 186,600 188,660 Earnings destributed to participating funds 978,181 978,181 765,576 Pension payments 73,724 73,724 1,074,806 Other expenditures 90 90 2,297 2,337 45,367 TO TAL EX PENSES 302,450 1,025,314 1,327,769 1,054,152 2,381,916 3,178,435 Excess Of Revenues Over Expenses 161,994 546,930 708,924 85,t72 794,096 869,231 Other FYnancing Sources (Uses): Transfers from other Funds 7,964 7,964 7,964 Transfers to other funds (125,000) (125,000) (125,000) (140,000) TOTAL OTHER FINANCING SOURCES (125,000) 7,964 (117,036) (117,036) (140,000) Excess Of Revenues And Other Sources Over Exoenses and Other Uses 36,994 554,899 591,888 85,172 677 724,231 Retained Earnings/Fund B alance January 1 155,905 9,018,515 4,179,420 411,025 9,585,495 3,861,214 Add: Prior period adjustment (Note 9) 162,894 162,894 Retained Earnin�s/Fund Balance December 31 192,899 4,573,909 $_4,76G,308 659,091 5,425,399 9,585,945 (See notes to the financial statements) This statement is an inte�ral part of report dated May 23, 1980 i City of Brooklyn �Center Exhibit 5 COMPARATIVE COMBINED STATEP./IENT OF CHANGES IN FINANCIAL POSITION All Proprietary Funci Tyt�es Municipal Public For the Years Ended Liquor Utilities December 31, Fund Fund 197 9 197 8 Sources of Financial Resources Operations: Net income for year (Exhibit 4) 161, 994 546, 930 708, 924 486, 573 Add: Items not requiring current outlay of resources: Depreciation 8, 781 177 819 186, 600 18�, 660 TOTAL RESOURCES PROVIDED BY OPERATIONS 170,775 724,749 895,524 675,233 Collections of other receivables 1,864 1,854 10,740 Debt retirement investments sold 1, 57 4 1, 57 4 2, 048 I ncrease in M. W. C. C. deferred credits 13 092 Contributions toward construction 9, 085 9, 085 168, 819 Decrease in assessments receivable-deferred 1,967 1,967 2,426 Decrease in M. W. C. C. receivable 7, 964 7, 964 TOTALS 172,639 745,339 917,978 872,358 Uses of �nancial Resources Purchase of properties 30,354 39,721 70,075 241,165 Payments to retire bonds 35 000 35 000 35 000 Decrease in lawsuit deferred credit 3, 26G 3, 266 2, 396 Increase in working capital 14, 019 524, 249 538, 268 270, 830 I Increase in restricted investments 137,152 137,152 150, 985 j Increase in 1�7.6V.C.C. receivable 23,G99 Transfers to General I'und 125 000 125 000 140, 000 Amortization of deferred gain on sale of assets 3,285 3,285 3,285 Construction funds invested 5, 932 5, 932 4, 998 TOTALS 172,639 745,339 917,978 g72,35g (See notes fo the financial statements) I This statement is an integral part <�f report dated l�'Iay 23, 1980 City of Brooklyn Center NOTES TO FINANCIAL STATEMENTS Year 1979 Note 1: Summaxy of Significant Accounting Policies A. Funds The basic accounting and reporting entity of the City is a"fund" A fund is defined as an independent fiscal and accounting entity with a self-balancing set of accounts recording cash and /or other recources together with all related liabilities obligations reserves and equities which are segregated for the purpose of carrying on specific activities or attaining a certain objective in accord with special regulations restric- tions or limit ations B. Basis of Accounting Both the accrual basis and modified accrual basis of accounting� are utilized by the City when recording the transactions in the var- ious funds. Accrual accounting is defined as revenues being recorded at the time they are earned, and expenditures are recorded when the liability for them is incurred. The modified accrual basis is defined as that method of accounting in which expenditures other than accrued interest on general long- term debt are recorded at the time the lia- bilities are incurred and revenues are received in cash, except for material or available revenues which should be accrued to reflect properly the taxes levied and the revenues earned The basis of accounting by fund is Fund Basis of Accountin� General Fund Modified Accrual 5pecial Revenue Funds Park Concessions Fund Accrual Federal Revenue Sharing Accrual Anti-recession Fiscal Assistance Accrual Capital Project Funds: Lawcon Accrual Open Space Acquisition and Development Accrual Capital Projects Accrual Municipal State Aid Accrual -22- City of Brooklyn Center NOTES TO FINANCIAL STATEb�ENTS Year 1979 Note 1: Continued Fund Basis of Accountin� Debt Service Funds Accrual Municipal Liquor Fund Accrual Public Utilities Fund Accrual Trust and Agency Funds Brooklyn Center Fire Relief Accrual Brooklyn Center Public Employees' Retirement Association Accrual Brooklyn Center Housing and Redevelopment Accrual Investment Trust Fund Accrual Special Assessment Funds Accrual General Fixed Assets Group Accrual Statement of General Long-Term Debt and Interest Accrual Encumbrances outstanding as of December 31, 1979 of $220,420 have been accounted for as expenditures. E. F`ixed Assets and Depreciation Policies Enterprise and Public Service Funds: The fixed assets of the Enterprise and Public Service Fund are stated at cost. Depreciation has been provided using the stra4ght-line method over the estimated useful lives of the assets. The estimated useful lifes are as follows Public Utilities Water Sewer Liquor Mains/Lines 100 yrs. 100 yrs. Structures /improvements 30 yrs 25 yrs 3-5 yrs Equipment 5-25 yrs 3-5 yrs Public Utility assets financed by special assessments are recorded as contributions in aid of construction. General Fixed Assets: The eneral fixed assets of t g the City, those assets not accounted for in other fund groups are acoounted for in a separate self- balancing group of accounts described as the General Fixed Asset Group of Accounts. General Fixed Asset purchases are recorded as expenditures in the fund that finances the purchase. No de- preciation is recorded on the assets included in the General F`ixed Asset Group of Accounts. -23- City of Brooklyn Center NOTES TO FINANCIAL STATEMENTS Year 1979 Note 1: Continued D. Inventories Inventories within the Public Utilities and Liquor Funds are valued using the FIFO method. Inventory quantities are determined by utilizing perpetual inventory records in the Liquor Fund and physical counts in the Public Utilities Fund. Once each year a physical inventory is taken in each liquor store for purposes of comparison to the perpetual inventory. E. Lon�-Term Debt General Obli�ation Bonds: General Obligation Bonds are recorded in the General Long-Term Debt Group of Accounts and are backed by the full faith and credit of the City. Special Assessment Bonds: These bonds are recorded as a liability in the Special Assessment Funds and are payable primarily from special assessments levied and collected for local improvements. The City has a contingent liability relating to a pledge of full faith and credit on the special assessment bonds. The general credit of the City i s obligated only to the extent that liens foreclosed against properties involved in the special assessment districts are insufficient to retire outstanding bonds. Revenue Bonds: The Public Utilities Revenue Bonds are recorded as a liability of the Public Utilities Enterprise Fund The bonds are not general obligations of the City or payable from proceeds of any ad valorem tax, but are payable solely from the net revenues of the Public Utilities Fund State-Aid Street Bonds The State Aid Street Bonds amounting to $710,000 at December 31, 1979 are payable from the Minnesota State Aid Allottments. -24- 1 City of Brooklyn Center NOTES TO FINANCIAL STATEMENTS Year 1979 Note 1: Continued Debt Service Requirements Debt Service Requirements to maturity are as follows Fiscal Debt Service Year Requirement 1980 $1,012,613 1981 880,920 1982 827,672 1983 785,035 1984 862,699 1985 608,861 1986 470,310 198? 438,640 1988 412,505 1989 371,225 1990 181,170 1991 172,155 1992 46,755 Total $7,070,560 F. Investments Investments are carried at cost which approx- imates market. Interest income is recorded as earned and is allocated annually to the re- spective funds on the basis of the participating funds' investment in the Investment Trust Fund. G. Budgets Financial control of spending for various govern- mental activities is exercised through the use of budgetary procedures. Exclusive authority over all budget matters remains with the Council. The Council approves all budgets and any amendments to those budgets also requires specific approval by the Council. Budgetary reporting is included in this report in the following funds General Fund, Open Space Acquisition and Development Fund Lawcon Fund Capital Projects Funds Municipal State Aid for Construction Fund, Community Development Block Grant Fund, and the Special Assessment Funds. -25- City of Bmoklyn Center NOTES TO FINANCIAL STATEMENTS Year 1979 Note 1: Continued H. Severance and V acation Pay Policies The City pays employees severance pay upon termination 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, 1979, the City had a liability of $93,665 for accrued vacation pay and a liability of $93, 964 for accumulated si ck le ave Note 2: All Funds The "Combined Balance Sheet All Funds and Account Groups (Condensed Form)" as shown on Exhibit 1 is presented as an information statement only. The reader is cautioned that the figures as shown under the "Totals" column are a combining of unlike purpose groups (funds) and cannot be construed as indicative of the overall financial position of the City. The financial position and results of operations of each fund should be ascertained by reference to individual exhibits as submitted for that fund within this report. Note 3: Municipal Liquor Fund Other Accounts Receivable, in the amount of $1,402 represents an amount due from a group of liquor wholesalers. Pursuant to terms of a court-ordered judgement the receiv- able will be collected over a four-year period, provided that the city makes purchases from these wholesalers. At each year end, these wholesalers remit to the City amounts based on purchases made during the previous year. Because of the restrictive terms of the judgement the gain attributable to this transaction has been credited to deferred income and is being amortized and recognized into income over the period of collection of the receivable. The Humboldt Square Store occupies space in the Hum- boldt Square Shopping Center under terms of a lease which expires during 1983. The Brooklyn Boulevard Store is located on city-owned property. The Northbrook store is located in the Northbrook Shopping Center and is occupied pursuant to terms of a lease which expires November 30, 1981. -26- City of Brooklyn Center NOTES TO FINANCIAL STATEMENTS Year 1979 Note 4: Public Utilities Fund Public Utilities Revenue bonds were issued during 1963 to finance an addition to the water works system. These bonds together with related interest and service charges are payable solely from the operations of the Public Utilities Fund and are not a general obligation of the City. The resolution authorizing and directing the issuanee of these bonds contain covenants and restrictions enacted for the purpose of protecting the bondholders' interest. Paragraph 8 of the resolution provides for the segre�ation of assets and the appropriation of retained earnings for debt retirement purposes and defines the manner of accounting for the activities of the Public Utilities Fund. As required by Paragraph l0e of the issuing resolution, an analysis of each account balance appears as follows Construction Account Proceeds of bond sale $1, 000 000 Add: Investment earnings thru 1978 345,234 1979 investment earnings 5, 932 Total Investment Earnings 351,166 Deduct Construction e�enditures thru 1978 $1,274,936 1979 construction expenditures -0- Total Construction ExpendituY+as$1, 274, 936 Construction Account B alance (Exhibit 18)$ 76, 230 Debt Retirement Account Accumulated amounts set aside to meet 1979 requirements for interest and pri ncip al: Investments with accrued irykez+ast$ 57, 854 Reserve account investments 75,000 Total Debt Retirement Account 132,850 (Exhibit 18) -27- City of Brooklyn Center NOTES TO FINANCIAL STATEMENTS Year 1979 Note 4: Continued A summary which reconciles restricted assets with earnings and also compares appropriated earnings with restriction requirements as set forth by the resolution authorizing the sale of revenue bonds is presented as follows Revenue Construction Bond Reserve Account Account Account Restricted Assets 12 /31 /7 9 $7 6, 230 $57 850 $75 000 Appropriated Earnin�s at 12/31/79 $76,230 $57,850 $75,000 All bonds which mature on January l, 1982 or thereafter are subject to redemption (call) on January 1,1974, or any interest payment date thereafter in inverse numerical order, at par and accrued interest and premium as follows: 1. If redeemed January 1, 1977, or thereafter prior to January 1, 1981, premium of 12 2. I f redeemed January 1, 1981, or therafter no premium. Since 1963, the Public Utilities Fund has been accumulating cash for the purpose of expanding the investment in plant and equipment to supply water to the residents of the City. The present plans for expansion of the facilities has a cost estimate of $6,184, 000. The plan includes capital outlays for the con- struction of water mains, a 1.5MG water ground storage and a lOMG water treatment plant. To date, $3,601,017 has been accumulated and set aside for the purpose of partially meeting the financing requirement for the planned expansion. Note 5: Public Utilities Fund Metro Waste Control Commission Receivables and Reserves Pursuant to enacted legislation (Metropolitan Sewer Act- Chapter 449 Session Laws) the Metropolitan Waste Control Commission, as of January 1, 1971, assumed ownership of all existing interceptors and treatment works needed to imple- ment a comprehensive plan for the collection, treatment, and I disposal of sewage in the seven county metropolitan area. -28- City of Brooklyn Center NOTES TO FINANCIAL STATEMENTS Year 1979 Note 5: Continued Under the terms of the Act the Commission is obligated to reimb�rse 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 studies. This current value receivable is to be paid by the Metropolitan Waste Control Commission over a period of 30 years and the amount will earn interest at an annual rate of 40. The method of payment will be by right of offset. The City will apply each annual installment against sewer service charges as billed by the Metropolitan Waste Control Commission annually. The installment credit for 1979 consisted of principal and interest and the amount of credit offset against 1979 sewer service billings totaled $6,152, leaving a balance due over the next 2 years of $204,567 (Exhibit 18) as adjusted by the M.W.C.C. Note 6: Special Assessment Funds Special assessments which relate to improvements benefiting City-owned properties total $189,741 as of December 31, 1979. The bayment for these improvements (with no interest charge) has been scheduled over a period extending through 1982. These assessments are obligations of the general fund and payment is planned under normal budget procedures, whereby the needed monies will be appropriated during the years as each installment beeomes due. Note 7: Pension Plans and Pension Funds The City participates in two pension plans as follows: 1) All City employees, with the exception of volunteer firemen, who have a separate plan, are covered by the Public Employees' Retirement Plan. This plan is administered by an independent agency of the State of Minnesota and is the central plan for em- lo ees of vernmental units within the State of Minnesota. A Y The City contributes, on behalf of its employees, 5.5$ to 12 0 of its employees' salaries to this plan. During 1979, this contribution amounted to $256,190. 2) The City contributes to the Brooklyn Center Firemen's Relief Association, an independently admirristered retirement plan for the City's volunteer firement. 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, 1978, the Association had an unfunded accrued liability of $6,842. In order to maintain the current level of benefits, annual payments of $25,937 are required. -29- City of Brooklyn Center NOTES TO FINANCIAL STATEMENTS Year 1979 Note 8: Investment Trust Fund The Investment Trust Fund was established in 1956 by Council action to provide a uniform and consistent method of investing temporary surpluses of cash. Net income of the Fund is distributed annually to each of the participating funds on the basis of the average yearly investment maintained by each fund. The net income and the effective rate of return on average investment by participating funds is shown below by years. Rate of Net Year Return Income 1979 8.45$ 978,180 1978 7.66 766,349 1977 7.11 637,855 1976 6.86 592,363 1975 7.15 554,696 1974 7.66 503,710 1973 6.63 391,221 1956 1971 2.77 6.66 1,728,379 Total Distributed Earnin�s 1956-197� $6,152,753 Note 9: Trust and Agency 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. Fund balance has been increased $162, 894 for prior years' securities held for investment. These securities had previously been omitted from the balance sheet as the City of Brooklyn Center was performing no bookkeeping funetions for the Authority. In 1979, the City of Brooklyn Center began pro- viding a bookkeeping service which resulted in incorporation of these securities into the fund for financial reporting purposes Note 10: Capital Projects Funds In conjunction with the Federal Land and Water Conserva- tion Act an amount of $3G6, 028 has been recorded as due from other governmental units in the Lawcon Fund. This amount represents grants to �e provided to the City of Brooklyn Center for development of open space for outdoor recreation projects. These grants are to be made available to the City upon approval of the City's application by the Office of Ir�cal and tJrban Affairs of the State Planning Age.rlcy and completion of the projects. -30- THE GENERAL FUND The General Fund accounts for all revenues and expenditures of a�z���rrn- i mental unit whirh are not accounted for in other funds, anel it is i�,uaily i the largest �ncl most important accounting acitivity for state and local t 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 cunent services, state-shared taxes, and interest earnin s. The fund's resources a B lso finance a wider ran of activities than Se any other fund. Most of the current operations of governmental units will be financed from this fund. Exhibit 6 City of Brooklyn Center I General Fund COMPARATIVE BALANCE SHEET December 31, 1979 1978 ASSETS Cash on hand and in depositiories 32, 953 16, 793 Temporary investments 2, 524, 871 1, 566, 395 Taxes receivable 111,885 125,864 Accounts receivable 30,120 Less: Estimated uncollectible accounts receivable (1,754) Net accounts receivable 28, 366 43, 412 Due from other funds 400,188 265, 448 Due from other governments 81,167 66, 835 Inventories of supplies 59, 043 30, 34;9 i TOTAL ASSETS 3, 238, 473 2,115, 09�6 LIABILITIES AND FUND BALANCE Liabilities Accounts payable 126, 259 81, 851 Due to other funds 231,408 65,162 Accrued salaries payable 122 ,175 96, 270 TOTAL LIABILITIES 479, 842 243, 283 Fund Equity Reserve for encumbrances 220, 420 46, 307 Unappropriated fund balance 2,538,211 1,825,506 TOTAL FUND EnUITY 2,758,631 1,871,813 TOTAL LIABILITIES AND FUND BALANCE 3, 238, 473 2,115 096 (See notes to the financial statements) This statement is an integral part of report dated May 23, 1980 -31- Exhibit 7 City of Brooklyn Center General Fund COMPARATIVE STATEMENT OF CHANGES IN FUND BALANCE For the Years Ended December 31, 1979 and 1978 1979 1978 Revenue and other sources (Exhibit 8) 4, 983, 096 4, 098, 394 Expenditures and other uses (Exhibit 8) 4, 238, 513) 3, 615, 410) Appropriated from fund balance for budget 31, 877) 9, 353) Net Increase In Fund Balance 712,706 473,631 Fund balance January 1 1, 825 505 1, 351, 87 4 Fund Balance December 31 (Exhibit 6) 2,538,211 1,825,505 (See notes to the financial statements) This statement is an integral part of report dated May 23, 1980 i 32- Exhibit 8 City of Brooklyn Center General Fund COMPARATIVE STATEMENT OF REVENUE, APPROPRIATIONS FROM FUND BALANCE, EXPENDITURES, ENCUMBRANCES AND TRANSFERS For the Years Ended December 31, 1979 and 1978 1979 1978 Actual Amended Over( Under) Budget Actual Bud�et Actual Revenue (Schedule 1 Ad valorem taxes 2,044,295 2,131,443 87,148 1,650,791 Licenses and permits 147,000 186,464 39,464 179,062 Intergovernmental revenue 1,317,071 1,298,545 (18,526) 1,173,054 Charges for services 42? 880 465, 885 38, 005 360, 488 Court fines 65,000 82,466 17,466 68,281 Miscellaneous revenue 33,918 135,889 101,971 92,638 Other sources 692,577 682,404 (10,173) 574,080 TOTAL REVENUE AND OTHER SOURCES (Schedule 1) 4, 727, 741 4, 983, 096 255, 355 4, 098, 394 Expenditures and Encumbrances S chedule 2 General government 764,294 688,539 (75,755) 868 Public safety 1,592,084 1,521,159 (70,925) 1,151,480 Streets and highways l, 026, 465 892, 470 (133, 995) 733, 615 Community health services 69, 070 48, 576 20, 494) 66, 423 Parks and recreation 930,035 860,283 (69,752) 795,116 Other uses 345,793 227,486 (118,307) TOTAL EXPENDITURES AND ENCUMBRANCE� (Schedule 2) 4,727,741 4,238,513 (489,228) 3,615,410 Revenue, Transfers-In AMd Appropriations From Fund Balance In Excess Of Expenditures, Encumbrances _p_ 744,583 744,583 482,984 And Transfers-Out (See notes to the financial statements) This statement is an integral part of report dated blay 23, 1980 3 3- City of BrooKlyn Center Schedule 1 i General Fund STATEMENT OF REVENUE-BUDGET AND ACTUAL OBJECTIVE CLASSIFICATION For the Year Ended Decemb�r 31, 1979 Actual Final Over �J nder Bud�et Actual Bud�et Ad V alorem T axes Real estate taxes 2,019,295 2,018,323 (972) Penalties and interest 25, 000 113,120 88,120 TOTAL AD VALOREM TAXES 2, 044, 295 2,131, 443 87 ,148 Licenses and Permits Liquor and beer 63,800 54,237 (9,563) Building permits 25, 000 43, 226 18, 226 Rental dwelling licenses 9, 000 7, 588 (1, 412) Dog permits 3, 000 3, 852 852 Electrical permits 9, Q00 13, 381 4, 381 Mechanical permits 7, 500 22 946 15 446 Plum bing permits 5, 000 10 410 5, 410 Food licenses 10,000 11,151 1,151 Sewer and w ater permits 2, 500 5, 379 2, 879 Vehicle dealers licenses 1,100 998 (102) Mechanical licenses l, 600 2, 065 465 Cigarette licenses 1,100 915 (185) Sign permits 600 535 (65) Swimming pool licenses 2,500 2,573 73 Miscellaneous business licenses 600 1,549 949 Garbage licenses 1,600 1,433 (167) Service station licenses 1,500 2,068 568 Taxi cab licenses 500 450 (50) i Bowling alley licenses 800 700 (100) Lodge establishments 200 308 108 All other licenses and permits 100 700 600 TOTAL LICENSES AND PERMITS 147, 000 186, 464 39, 464 Court Fines Costs and fees 65,000 82,466 17,466 Inter-Governmental Revenue Federal grants: A.S.A.P. 299 299 C.E.T.A. 50,842 33,696 (17,146), Civil defense 10, 700 12, 670 1, 970 TOTAL FEDERAL GRANTS 61,542 46,665 (14,877) State grants: Environmental help 2, 919 2, 919 Bureau of criminal apprehension 1, 000 1, 305 305 Metro land planning 6, 565 9, 399 2, 834 Shade tree disease control 28,143 12, 216 (15, 927) TOTAL STATE GRANTS 35, 708 25, 839 9, 869) 34- City of Brooklyn Center Schedule 1 General Fund Cant' a STATEMENT OF REVENUE-BUDGET AND ACTUAL OBJECTIVE CLASSIFICATION For the Year Ended December 31, 1979 i A ct ual Fi nal Over U nder Budget Actual Budget State shaxed taxes: Local government aid 1,161,591 1,161,591 F`ixed machinery tax replacement 1,230 1,467 237 Police pension aid 57,000 62,983 5,983 TOTAL STATE SHARED TAXES 1,219, 821 1, 226, 041 6, 220 I TOTALINTER-GOVERNMENTAL REVENUE 1,317,071 1,298,545 (18,526) Charges For Services Inter-fund charges: Administration: Public utilities 25 000 25 238 238 Shade trees 3,500 1,320 (2,180) Engineering and clerical: Special assessments and public utilities 35, 000 99, 690 64, 690 General government charges 9,000 15,114 6,114 Public safety charges 5, 400 5, 4? 4 7 4 Recreation fees 347, 980 318, 868 29,112) Other services 2,000 181 (1,819) TOTAL CHARGES FOR SERVICES 427, 880 465, 885 38, 005 Miscellaneous Revenue Rent 10,000 11,686 1,686 Interest earned on investments 20, 000 102, 245 82, 245 Miscellaneous 3,918 21,958 18,040 TOTAL MISCELLANEOUS REVENUE 33, 918 135, 889 101, 971 Other Sources Transfer from fund bal.ance 31, 877 31, 877 Transfers from other funds: Liquor Fund 125 000 125 OOC1 Federal Revenue Sharing Fund 486,537 476,364 (10,173) Fire Relief Association Fund 49,163 49,163 TOTAL OTHER SOURCES 692,577 682,404 (10,173) TOTAL REVENUE AND OTHER SOURCES 4,727,741 4,983,096 255,355 (See notes to the financial statements) This statement is an integral part of report dated May 23, 1980 35- City of Brooklyn Center General Fund Schedule 2 COMPARATIVE STATEMENT OF EXPENDITURES AND ENCUMBRANCES BUDGET AND ACTUAL CLASSFIED AS TO ACTIVITY, CHARACTER AND OBJECT For the Years Ended December 31, 1979 and 1978 1979 1978 1979 Expenditures Expenditures Eacpenditures And Encumbrances Classified By Character And Object Amended and Over(Under) and Personal Contracted Captial Bud�et Encumbrances Bud�et Encumbrances Service Service Commodities Other Outlays General Government Mayor and council 98,003 42,803 (5,200) 53,042 17,635 8,638 16,530 Elections and voter registration 8,164 4,667 (3,497) 13,910 2,640 2,027 Administrative of$ce 178,680 171,782 (6,898) 343,731 154,662 13,698 7 1,110 2 Assessor's office 97,686 90,193 (7,543) SO,1S5 82,022 5,691 1,318 348 !764 Accounting and internal audit 101,959 85,358 (16,101) 104,063 84,273 861 85 139 Independent audit 17,000 14,563 (2,437) 13,134 14,563 Legal 71,000 69,523 (1,477) 49,302 68 1,022 217 C harter commission 1,500 431 (1,069) 153 156 275 General government birildings 240,802 209,269 (31,533) 211,256 111,668 55,077 11,015 31,509 TOTAL GENERAL GOVERNMENT 769 685,539 (75,755) 868,776 452,900 168,995 13,637 18,290 34,717 Public Safety And Welfare Police protection 1,061,559 1,017,996 (43,613) 905,716 899,699 12,675 13,815 28,655 63,102 Fire protection 339,514 332,206 (7,308) 101,792 91,785 9,013 9,655 5,367 226,386 Protective inspeetion 146.150 129,588 (16,562) 101,313 98,286 29,045 424 429 1,404 Civil defense 31,111 28,366 (2,745) 30,793 21,334 3,122 418 238 3,254 I Animal control 12,000 11,419 (581) 11,118 11,419 Weed eradication 1,750 1,639 (116) 748 1,634 I TOTAL PUBLIC SAFETY AND WELFAftE 1,592,084 1,521,159 (70,925) 1,151,480 1,111,104 61,908 19,312 34,689 294,146 Public Works Eng[neering Department 208,303 184,356 (23,947) 178,208 173,377 5,993 1,753 284 2,949 Street Department 475,529 401,790 (73,789) 287,965 250,012 657 82,280 172 68,619 M aintenance shop 242,833 218,263 (29,570) 188,241 70,739 29,287 118,090 147 Street and traffi c lighting 99,$00 88 (11,689) 79,201 88,111 I TOTAL PUBLIC WORKS 1,026,465 892,470 $(133,995) 733,615 494,128 129,048 202,123 456 71,715 Community Health Services Health regulation 27,000 26,732 (268) 26,230 26,732 N ursing service 14,070 (14,070) 11,939 Detached worker program 28,000 21,844 (6,156) 28,254 21,844 TOTAL COMMUNITY HEALTH SERVICES 69,070 45,576 (20,494) 66,423 48,576 Parks And Recreation Supervision and recreaUon 138,357 128,536 (9,821) 124,866 106,559 15,723 3,222 338 2,694 Adult programs 78,800 79,236 436 65,538 21,593 57,643 Teen pmgrams 12,375 12,904 529 9,946 3,060 2,398 4,187 649 2,610 Children's programs 41,960 41,043 (917) 34,239 16.960 15,001 6,797 2,285 General pmgrams 39,910 39,531 (379) 37,240 22,350 16,640 376 165 Comm unity center 272,000 278.759 6,759 252,625 129,866 75,605 22,131 29,201 21,951 Park maintenance and improvement� 346,633 280,279 (66,354) 27U;662 195,638 19,527 16,048 8,104 40,962 T01'AL YARKS AND RECREATION 930,035 _860,253 (69,752) 795,116 496,026 $_202,537 52,761 40,742 68,217 I Miscellaneous I i Unallocated departmental 395,793 227,486 $(118,307) 40,361 108,633 16 8,029 53,485 TOTA EX PENDITUAES AND ENCUMBRANCES (Exhibit 9,727,741 4,238,513 (489,228) 3,615,910 2,594,519 714,697 304,811 102,206 522,280 (See notes to the financial statements) This statement is an integral part of report dated May 23, 1980 r �r■ r� r� r■ �r r SPECIAL REVENUE FUNDS SPECIAL REVENUE FUNDS Special Revenue Func(s 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. B ookl Center EXHIBIT 9 City of r yn Special Revenue Funds COMPARATIVE CUi:�BINING BALANCE SHEET r An i-Recession Diseased Totals Fede al t Revenue Sharing FYscal Aid Tree Removal December 31, Fund Fund Fund 1979 1978 ASSETS Temporary investments 663,176 1, 675 5, 227 670, 078 720, 356 Accounts receivable 3,143 3,143 Due from other funds 6, 300 6, 300 Due from other governmental uruts 54,026 19,035 73,061 55,215 TOTAL ASSETS 717,202 1,675 33,705 752,582 775,571 LIABILITIES AND FUND BALANCE Liabilities Vouchers payable 341 341 18,150 I Contracts payable 5, 400 5, 400 Due to other funds 266, 451 22, 734 289,185 114, 728 TOTAL LIABILITIES 266, 451 28, 475 294, 926 132, 878 Fund B alance Appropriated 286,077 286,077 446,272 Unappropriated 164, 674 1, 675 5,230 171,579 196, 421 TOTAL FUND BALANCE �xFii�ii{ 450,751 1,675 5,230 457,656 542,693 TOTAL LIABILITIES AND FUND BALANCE 717,202 1,675 33,705 752,582 775,571 (See noteG to the financial statements) This statement is an integral part of' the report dated May 23, 1980. City of Brooklyn Center Special Revenue Funds Exhibit 10 COMPARATIVE COMBINING STATElV7ENT OF REVENUES. EXPENDITURES .AND CHANGES IN FUND BALANCE Federal Anti-Recession Diseased For the Years Ended Revenxe Sharing �scal Aid Tree Removal December 31, Fund Fund Fund 1979 1978 Intergovernmental Revenue Federal Grants Federal revenue sharing 219,671 219,671 223,699 State Grants Department of ap�riculture 24, 448 24, 448 TOTAL INTE REVENUE 219,671 24,448 244,119 223,699 Char�es For Services lliseased tree remuval 18,613 18,613 Administration charges 1,320 1,320 TOTAL CHARGES FOR SERVICES 19,933 19,933 Miscellaneous Revenue Interest on investments 66,296 130 111 66,537 47,241 TOTAL P:7ISCELLANEOUS REVENUE 66,296 130 lll 66,537 47,241 TOTAL RF.VENUE 285,967 130 44,492 330,589 270,940 Expenditures Contractual services 28,710 28,710 Refunds 4,116 4,116 TOTAL EXPENDITURES 32, 826 32, 826 Excess of Revenues Over Expenditures 2R5,967 130 11.666 297,763 270,940 I Other �Ynancing Sources (Uses) Transfers from general fund 5,400 5,400 Transfers to general fund (476,364) (11,836) (488,200) (195,427) Excess of Revenues and Other Sources Over (Under) Expenditures And Other Uses (190,397) 130 5,230 (185,037) 75,513 Fund B alance January 1 Appropriated 446,272 446,272 184,540 U naporopriated 194,876 1,545 196,421 382,640 �I FUND BALANCR DECEPJIBER 31 (EXHIBIT 9) 450,751 1,675 5,230 457,656 642,693 APPROPRIATED 286,077 286,077 446;272 UNAPPROPRIATED 164,674 1,675 5,230 171,579 196,421 (See notes to financial statements) This statement is an integral part of report dated May 23, 1980. DEBT SERVICE FUNDS DEBT SERVICE FUNDS Debt Service Funds aze created to account for the payment of interest and principa� on long-term, general obligation debt other than that payable from special assessments and debt issued for and serviced primarily by a governmental enterprise. r r i City of Brooklyn Center EXHIBIT 11 Debt Service Funds COMPARATIVE COMBINING BALANCE SHEET State Aid Improvement Totals Park Library Street And Building December 31, Bonds Bonds Bonds Bonds 1979 1978 ASSETS Temporary investments 100,955 85,877 155,053 341,885 308,550 Due from other funds 38 391 429 Taxesreceivable 1,851 19,306 21,157 26,265 TOTAL ASSETS 102, 844 85, 877 174, 750 363, 471 334, 815 LIABILITIES AND FUND BALANCE Fund balance (Exhibit 12) 102,844 85,877 174,750 363,471 334,815 TOTAL LIABILITIES AND I i i FUND BALANCE 102, 844 85, 877 174,750 363, 471 334, 815 (See notes to financial statements) This statement is an integral part of report dated May 23, 1980 Exhibit 12 City of Brooklyn Center Debt Service Funds COMPARATIVE COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN F'UND BALANCE State Aid Improvement For the Years Ended Park Library Street And Buildin� December 31, Bonds Bonds Bonds Bonds 1979 1978 Revenues General property t�es 22, 800 231, 200 254, 000 274, 600 Interest on investments 8,155 7,596 (621) 13,644 28,774 24,283 Intergovernmental Revenue: State aid allotment 26, 850 26, 850 26, 850 TOTAL REVENUE S 30, 955 7, 596 26, 229 244, 844 309, 624 325, 733 Expenditures Principal payments 20, 000 10, 000 55, 000 125, 000 210, 000 220, 000 Interest 1,485 2,280 47,915 95,225 146,905 160,180 Fiscal agent fees 143 22 153 275 593 605 Other expenditures 29 280 309 88 0 TOTAL EXPENDITURES 21,657 12,302 103,068 220,780 357,807 380,873 Excess Revenues Over Under) Expenditures 9, 298 4, 706) 76, 839) 24, 064 48,183) 55 ,140) Other Financinp; Sources Transfer from Munic=ipal State Aid Capital Projects Funds 76,839 76,839 79,526 i Excess of Revenues and Other I I Financing Sources Over (Under) Expenditures 9, 298 4, 706) 24, 064 28, 656 24, 386 Fund Balance January 1 93,546 90,583 150, 686 334, 815 310, 429 Fund Balance December 31 (Exhibit 11) 102, 844 85, 877 174, 750 363, 471 334, 815 (See notes to the financial statements) I This statement is an integral part of report dated May 23, 1980 i 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 finan- ced by special assessment and enter rise funds. P City of Brooklyn Center Exhibit 13 Capital Projects Funds COMPARATIVE COMBINING BALANCE SHEET Open-Space Capital Community Municipal Totals Lawcon Acquisition Projects Development State Aid For December 31 Fund Fund Fund Block Grant Construction �975 i�5�r a ASSETS Temporary investments 187,528 1,933 368,440 2,026,974 2,584,875 2,490,376 Due from other funds 43,555 35,779 15,426 95,060 7,584 Due from other governmental units (Note 1� 366,028 325,483 1,097,429 1,788,940 655,127 TOTAL ASSETS 597,411 1,933 404,219 325,483 3,139,829 4,468,875 3,153,087 LIABILITIES AND FUND BALANCE Liabilities Temporary loan (Investment Trust Fund) 586 586 15,877 Accounts payable 3,496 401 37,808 41,705 Contracts payable 16,128 5,500 319,594 341,222 2,863 D ue to other funds 44,639 3,250 40,000 6,938 94,827 94,387 Due to other governmental units ,A Accrued salaries payable 164 164 1,549 TO TAL LIABILITIES 64,427 3,651 46,086 364,340 478,504 114,676 Fund Balance Unexpended appropriations 523,429 46,732 279,397 78,744 928,302 203,936 B alance restricted to state-approved projects 1,853,875 1,853,875 1,69H,203 U nappropriated balance 9,555 1,933 353,836 842,870 1,208,194 1,136,272 TOTAL FUND BALANCE(Exhibit 14) 532,984 1,933 400,568 279,397 2,775,489 3,990,371 3,038,411 TOTAL LIABILITIES AND FUND BALANCE 597,411 1,933 404,219 325,483 3,139,829 4,468,875 3,153,087 (See notes to the financial statements) This statement is an integral part of report dated May 23, 1980 City of Brookiyn Center Capital Projecfs Funds Exhibit 14 COMPARATIVE COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGESIN FUND BALANCE Open-Space Capital Community Municipal For the Years Ended Lawcon Acquisition Projects Development State Aid For December 31, Fund Fund Fund Block Grant Construction 1979 1978 Revenues Intergovernmental revenue: County grant 25,929 25,929 Federal grants (Note 10) 366,028 325,483 245,225 936,736 State shared gasoline taxes 365,368 365,368 332,614 State grants 126,574 126,574 107,560 Interest on investments 9,555 41,172 160,069 210,796 170,580 Other revenue 4, 880 4, 880 Insurance proceeds-building destroyed by fire 208, 987 TOTAL REVENUES 502,157 41,172 325,483 801,471 1,670,283 819,741 Expenditures Construction costs: Streets and storm sew ers 383,085 3H3,085 60,006 Parks and playgrounds 200,165 200,165 72,294 B uildings 48,758 6,086 54,844 699 Interest expense 140 140 870 Write-off of fire-related costs 15,911 TOTAL EXPENDITURES 200,165 140 48,758 6,086 383,085 638,234 149,780 N I Excess of Revenues Over (Under) Expenditures 302,992 (140) (7,586) 319,397 418,386 1,032,049 669,961 Other Financing Sources (Uses) Transfers from Capital Projects Fund 91,$95 91 Transfers from Community Development Block Grant Fund 40,000 40,000 Transfer to Lawcon Fund (95,145) (40,000) (135,145) Transfer to MSA Debt Service Fund (76,839) (76,839) (81,656) TOTAL OTHER FINANCING SOUACES 131,895 (95,145) (40,000) (76,839) (80,089) (81,656) Excess of Revenues And Other Sources Over (Under) l:xpenditures And Other Uses 433,887 140) $(102,731) 279,397 341,547 951,960 588,305 Fund Balance January 1 Unexpended Appropriations 99,097 73,740 31,099 203,936 16,284 B alance restricted to state-approved projects 1,698,203 1,698,203 1,527,191 U nappropriated balance 2,0?3 429,559 704,640 1,136,272 906,631 Fund Balance Decem ber 31 (Exhibit 13) 532,984 1,�33 400,568 279,397 2,775,489 3,990,371 3,038,411 IJnexpended Appropriations 523,429 46,732 279,397 78,744 928,302 203,936 RestrzcYed Balanee 1,853,875 1,853,875 1,698,203 U nappropriated F3alance $__9,555 1,933 353,836 842,870 1,208,194 I,136,272 (See notes to financial statements) This statement is an integral part of report dated May 23, 1980 i i i City of Brooklyn Center Schedule 3 Capital Projects Fund Lawcon Fund STATEMENT OF UNEXPENDED APPROPRIATIONS BY PROJECT For the Year Ended December 31, 1979 Shingle Central Shingle Central Creek P ark C reek Park Grant #2 Grant #2 Trailways Project Total Sources Of Fundin� Federal grant (Note 10) 98,450 95,628 71,950 100,000 366,028 State grant 78,760 47,814 57,560 50,000 234,134 City of Brooklyn Center: Capital Projects Fund 19,690 7,815 14,390 50,000 91,895 Community Development Block Grant Fund 40,000 40,Q00 TOTAL SOURCES OF FUNDING 196, 900 191, 257 143, 900 200, 000 732, 057 w Expenditures Construction in progress 8, 900 62, 640 137 088 208, 628 Unexpended Appropriations 196, 900 182, 357 81, 260 62, 912 523, 429 (See notes to the financial statements) This statement is an integral part of report dated May 23, 1980 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 irnprovements which benefit the entire community and which are paid for out of general revenues or through the issuance of general obligation bonds. Exhibit 15 City of Brooklyn Center Special Assessment Funds COMPARATIVE COMBININ� BALANCE SHEET Bond #1 1955A 1956AC 1956B 1957AB 1958A 1958A 1959AB 1960A. .ASSETS Temporary investments 2,344 ?9,031 152,209 16,598 39,937 118,778 98,5 45,550 279,351 Accounts receivab�e S�}ecdial Assessments ftecei�able: I)elinquen# 10 1,310 4,678 185 1,172 28 321 10,947 Deferred 37 2,731 12,068 39,035 Tax "�orfeit land 74 70 8 345 158 City �hare of improvements __4,017 Due from other funds Due from other gca�'ex�r�mental umts 497 29 Bond diso��az�� Auth��i���ion t� �.ssess for construction in progress �'�TAL ASSETS 2, 428 80, 341 156, 994 16,598 40,122 119, 958 lOT, 689 58, 436 333, 798 LIABILITIES AND FUND BALANCE Liabilities Acoounts payable Contracts payable Due to other funds Construction loans payable Accrued inter�st p ayable Bonds p ayable 15 000 75 000 TOTAL LIABILITIES 15,000 75,000 Fund B alance Debt service (Exhibit 17) 2, 428 80 341 156, 994 16, 598 40,122 119, 958 101, 689 43, 436 258, 798 Construction (Exhibit 16� TOTAL FUND BALANCE 2, 428 80, 341 156, 994 16, 598 40,122 119, 958 101, 689 43, 436 258, 798 TOTAL LIABILITIES AND FUND BALANCE 2, 428 80, 341 156, 994 16, 598 40,122 119, 958 101, 689 58, 436 333, 798 (See notes to �nancial statements) I This statement is an integral part of report dated May 23, 1980 44- Exhibit 15 Total. Totals Debt Service Construction December 31, 1961AB 1963A 1965Ai 1966A 1969A 1970 1973 1976 Funds Funds 1979 1978 421,506 307,014 84,553 148,581 88,501 301,543 139,728 340,412 2,664,221 13,019 2,677,240 2,129,460 I 37,549 37,549 27,975 2,290 1,397 687 2,753 8,105 130,356 52,089 117,571 333,899 11,876 345,775 661,591 31,924 35,030 37,215 90,523 142,013 598,674 255,416 562,925 1,807,591 267,502 2,075,093 2,618,160 401 798 989 2,843 2,843 3,454 825 1,372 54,431 78,786 39,383 178,814 10,927 189,741 164,882 15,380 15,380 127,546 652 1,439 1,439 10,973 14,498 3,307 17,805 17,805 20,419 2,072,300 2,072,300 599,450 457,598 343,441 123,827 242,655 �'38,619 1,099,502 530,315 1,06D,291 5,006,612 2,428,553 7,435,165 6,363,910 I 285,219 285,219 28,381 348,283 348,283 121,617 113,499 113,499 116,775 126,000 126,000 685,000 811,000 611,000 53,334 53,334 49,662 102,996 67,069 140,000 95,000 60,000 180,000 205,000 830,000 385,000 820,000 2,805,OOD 2,805,000 3,300,000 140,000 95,000 60,000 180,000 205,�000 830,000 385,000 999,334 2,984,334 1,481,663 4,465,997 4,244,842 317,598 248,441 63,827 62,655 33,619 269,502 145,315 60,957 2,022,278 2,022,278 1,853,004 946,890 946,890 266,064 55 1 2 5 2 145 315 60 957 2 022 278 317,598 248,441 63,827 62,6 33,6 9 69, 0 946,890 2,969,168 2,119,068 457,598 343,441 123,827 242,655 238,619 1,099,502 530,315 1,060,291 5,006,612 2,428,553 7,435,165 6,363,910 45- i Exhibit 16 City of Brooklyn Center Special Assessment Funds COMPARATIVE STATEMENT OF CONSTRUCTION APPROPRIATIONS AND EXPENDITURES For the Years Ended December 31, 1979 1978 Appropriations Balance January 1 654,791 300,150 Appropriations During the Year l, 902,100 608, 391 Appropriations Closed During the Year 484, 591) 253, 750) Appropriations Balance- December 31 2,072,300 654,791 Construction Expenditures January 1 388,727 163,427 Expended During the Year 1,021,728 533,223 Projects Closed During the Year 285 045) 30? 923) Construction Expenditures December 31 1,125,410 388,727 UNEXPENDED APPROPRIATIONS FOR CONSTRUCTION (EXHIBIT 15) 946, 890 266, 064 (See notes to the financial statements) This statement is an integral part of report dated May 23, 1980 4 6- City of Brooklyn Center Exhibit 17 Special Assessment Punds CONPARAI'IVL•' CU�llil�l�c s•i�n�rLnn:n�r or REVIiNUE, IiXPfiNUI'fUNLiS, AND CI:ANCBS IN FfINU ItALANCF i Por The Years Ended December 3] 1979 And 1978 Excess Of Fund REVENUE EXPENDITOREfi Revenues Fund Balance Interest lnterest Bond P.iyin�; Taxeti Over (Under) fialance December 31 FUND Total AssessmeM Investments Other Total Interest A�ent F@CS WI9ttCl1 Ofr OLIICP Expenditures January 1 (Exhitait 15) Bond Fund N1 181 R 161 S. E 181 2,247 2.928 7 98 80 341 1955 A 6,140 30 6.110 297 247 5,893 4,9 i 1956 AC 11,779 16 11.7G3 72 72 11,707 145,287 156,994 195f, B 1,291 34 1,257 1.29] 15,307 16,598 I 195i Ats 3,111 5 3,106 106 106 3,005 37,117 90,122 i 1956 A 9,127 35 9.092 9.127 110,831 119,958 1958 [1 7,76�J 224 7.595 7,769 93,920 101,689 i 5,878 1.261 4,617 1,655 1,575 80 4,223 39,213 43,436 2960 �11i 29,737 9,619 25,118 6.889 5>580 189 1.125 22,898 235.950 258,798 �9�� 38,942 2,842 36.100 7,715 7,075 175 212 253 31,227 286.371 317,598 19G3 A 28,312 3,356 24,956 4,488 4,450 38 23.824 224.617 248.441 A 9,309 2,910 6,697 3.087 2,660 22 27 378 6,220 57.607 63,827 19G6 A 18,536 5,509 13,027 9.874 9,800 43 3l 8.662 53,993 62.655 19G9 A �g,q75 10,570 7,905 15,906 19,950 58 898 2.569 31,050 33.619 T8,520 69,028 19,992 G8,947 61,058 228 1,877 5,284 10,073 259.929 269,502 19i3 33,362 24.761 8.601 33,956 20,769 91 430 12,218 (9�) 195,911 145,315 I 19 ?f 71,723 56,918 15.305 50,972 48,635 76 2.261 20,751 90,206 60,957 I TOTA LS 1979 S 37 2,190 S 176,118 196,072 E 202,916 176, 945 3,900 21,519 169,'L74 1,853,004 S 2,022,278 TOT A1.5 1978 370,681 E 209,459 3 160,955 S 467 S 205;520 204,506 1,0t4 165,361 1,687,643 1,853. tSee notes to the ffnancia! stntements) This statement is nn integral part of report dnted Mey 23, 1980 �Frior yenrs' interest written off on tauc forfeit Innd acquired by the City. i i ENTERPRISE FUNDS Enterprise funds are established to account for the fmancing 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 under the same mana ement. Another t e of overnment enter- B YP S prise in Minnesota is the Municipal Liquor operation. City of Brooklyn Center Exhibit 18 Enterprise _Funds COMPARA'fIVB COMBINING RALANCE SHELT Municipal Public Combined Statement Municipal Public Combined Statement Liquor Utilities December 31, Liquor UUlities December 31, Fund Fund 1979 1978 LIABILITIL'S, CONTRIBUTIONS AND Fund Fund 1979 1978 ASSETS RETAINED EARNINGS Current Assets Current Liabilities Cash on hand 3,700 3,700 3,700 Accounts payable 97 10,849 108,182 97,147 Temporary investments 25,178 927,118 952,296 522,295 Contracts payable 3,346 Accounts receivable 6,432 99,221 105,653 123,873 D ue to other funds 939 12,907 13,846 49,419 Less: Allowance for estimated Accrued liabilities 18,248 6,921 25,169 44,848 uncollectible (5,391) (2,137) (7,528) (6,347) C urrent portion of long-term debt 35,000 35,000 35,000 Assessments receivable 16,449 16,499 7,1g7 Hydrant deposits 725 Due from other funds 586 586 15,259 TOTAL CURRENT LIABILITIES 116,520 65,677 182,197 230,485 D ue from other governments 60,888 60,888 8,579 Inventories: Materials and supplies 19,594 19,594 15,542 Lon�-Term Liabilities Pr7erchandise for resale 226,181 226,181 212,131 Revenue bonds (Note 4) 555,000 555,000 590,000 Prepaid Expenses: Less: C urrent portion 35,000 35,000 35,000 M.W.C.C, charges 39,893 39,893 42,612 TOTAL LONG-TERM LIABILITIES 520,000 520,000 555,000 Mem berships 20B 200 200 Rent 3,032 3,032 2,897 Insurance lZ5 Contributions Toward Construction Accrued water and sewer revenue 131,629 131,629 114,540 Special asses�ments and developers $10,021,876 $10,021,876 $10,012,791 TOTAL CURRENT ASSETS 259,132 1,293,491 1,552,573 1,062,593 TOTAL CONTRIBUTIONS $10,021,876 $10,021,876 $10,012,791 i Restricted Assets Deferred Credit� Lawsuit settlement receivable Gain on sale of assets 68,981 68,981 72,266 (Note 3) 1,402 1,902 4,668 Metm Waste Control Commission (Note 5) 254,590 254,590 262,554 Temporary investments (N ote 4) 3,601,017 3,601,017 3,463,865 Deferred gain lawsuit settlement (Note 3) 4,668 i Due from other governments- TOTAL DEFERRED CREDITS 323,571 323,571 339,488 M.W.C.C. (Note 5) 254,590 254,590 262,554 Debt retirement account- Ketained Earnin s (Note 4) 132,850 132,850 134,4..4 Reserved: Assessments receivable-deferred 116,064 116,064 118,03] Debt retirement 132,850 132,550 134,424 Construction funds invested 76,230 76,230 70,298 Construction funds (Note 4) 76,230 76,230 70,298 I TOTAL RESTRICTED ASSETS 1,402 4,180,751 4,182,153 4,053,840 N'�rking capita] 20,000 20,000 20,000 I Unreserved: Fixed Assets Designated for plant expansion 3,601,017 3,601,017 3,463,865 Mains and lines $10,452,875 $10,452,875 $10,442,764 Undesygnated 192,899 743,312 936,211 485,833 Structures 1,913,636 1,313,636 1,835,723 TOTAL RETAINF.P F.ARNINGS 19`L,899 4,5'13,409 4,766,308 4,174,420 Equipment 111,108 256,459 367,567 347,243 Land 23,621 23,621 23,621 (Exhibitl9) Land improvements 5,898 5,898 5,898 Leasehold im provements 28,799 28,799 28,799 Construction work in pro�ress 48,303 145,805 $12,646,591 �12,792,396 $12,732,351 Less: Allowance for depreciation 96,920 2,616,250 2,713,170 _2,536,600 TOTAL PIlED ASSli1'S 98,885 �10,030,341 $10,079,226 $10,795,75] TO TAT.S 309,419 R15,509, $15,813,95 �15, 312,154 TO T ALS 309,419 $15,504,533 $15,813,952 $15,312,184 (See notes to the fin�ncifll statemente) This statement is fln integral nart of report dated May 23, 1980 City of Brooklyn Center Enterprise Funds Exhibit 19 COMPARATIVE COMBINING STATE67ENT OF OPERATIONti ANll RETAINED RARNINGS Municipal Liquor Fund Public Otilities Fund Brooklyn For the Years Ended Humboldt Boulevard Northbrook Water Sewer December 31, or Total De artment Department Total 1979 1978 Square Store Store St e P Sales and Cost of Sales Sales 626,070 813,490 850,314 2,289,879 2,289,874 2,109>778 Less: Cost of sales 508,442 665,4U3 693,4U4 1,867,`l49 1,567,249 1,746,815 Trade discounts (6,992) (10,539) (10,715) (28,246) (28,246) (37 501,450 654,869 682,689 1,839,UU3 1,839,003 1,709,303 GROSS MAR GIN 124,620 158,626 167,625 450,871 450>871 400,475 Operatin� Revenue Service to consumers 371,675 779,100 1,150,775 1,150,775 997,669 I Service hookup charges 22,795 22,795 22,795 56,OOfi Sale of w ater meters (5,409) (5,404) (5,404) (9,098) Penalties 6,894 6,844 6.844 6,982 Other ,4,398 10,491 14,889 14,889 10,941 i TOTAL OPERATING REVENUE 400,308 789 1,189,899 1,189,899 1,062,500 I Operating Expenses ��I TOTAL OPERATING EXPENSES a (Schedules 4,5,6; 94,524 87,193 120,643 302,360 348>815 653,921 1,002,236 1,304,596 1,267,675 I Operati nq Income (Loss) 30,096 71,433 46,982 148,511 51,493 136,170 187,663 336,174 195,300 I Other Revenue I Interest earned: I lnvestments 6>965 350,190 357,155 286>848 Special assessments 16,135 16,135 9,100 Metro Waste Control Commission 10,088 10 10,577 Construction funds 5,932 5,932 4,998 Miscellaneous 6,608 6,608 4,761 TOTAL OTHER REVENUE 13,573 382,345 395,918 316,284 Other Expenses Interest and fiscal agent fees 23,078 23,078 24,447 Miscellaneous 90 90 564 TOTAL OTHER EXPENSES 90 23,078 23,168 25,011 Net Income to Retained Earnin�s (Exhibit 2D/ 161,999 546,930 708,924 486,573 Retained Earnin�s January 1 155,905 9,018,515 4,174,420 3,819>503 Transfers To General Fund (125,000) (125,000) (140,000) From Metro Waste Control Com mission reserves 7 7 8,394 TOTAL TRANSFERS U25,000) 7,964 (117,036) (131,656) Retained Earnins�s December 31 (Exhibitl8� R 192.R99 4,573.409 4.766,30E 4,174,420 (See, notes to financia] statements) 'rhic Gtatement i� an inteersxl oart of report dated May 23, 1980 City of Brooklyn Center Exhibit 2D Enter rise Funds COMPARATIVE COMBINING STAT 1 NT OF Cf�NGES IN FINANCIAL POSITION Munic2pal Public For the Years Ended Liquor Utilities December 31, Fund �und 197 9 197 8 Sources of Finan�ial Resources Operations Net income for year (Exhibit 19) 161, 994 546, 930 708, 924 486, 573 Add: Items not requiring current outlay of resources: Depreciation 8,781 177, 819 186, 600 188, 660 TOTAL RESOURCES PRO�IDED BY OPERATIONS 170,775 724,749 895,524 675,233 Collections of other receivables 1, 864 1, 864 10 7 40 Debt retirement investments sold 1,574 1,574 2,048 Increase in M. W. C. C. deferred credits 13, 092 o Contributions toward construction 9,085 9,085 168,819 Decrease in assessments receivable-deferred 1,967 1,967 2,426 Decrease in M. W. C. C. receivable 7, 964 7, 964 TOTALS 172,639 745,339 917,978 872,358 Uses of Financial Resources Purchase of properties 30,354 39,721 70,075 241,165 Payments to retire bonds 35 000 35 000 35 000 Decrease in lawsuit deferred credit 3, 266 3, 266 2, 396 Increase in working capital 14, 019 524, 249 538, 268 270, 830 Increase in restricted investments 137,152 137,152 150, 985 Increase in M. W. C. C. receivable 23, 699 Transfers to General Fund 125 000 125 000 140 000 Amortization of deferred gain on sale of assets 3, 285 3, 285 3, 285 Construction funds invested 5, 932 5, 932 4, 998 TOTALS 172, 639 745, 339 917, 978 872, 358 �I (See notes to the financial statements) This statement is an integral part of report dated May 23, 1980 City of Brooklyn Center Municipal Liquor Fund Schedule 4 COMPARATIVE STATEMENT OF OPERATING EXPENSES Humboldt Brooklyn For the y�s Ended Square Boulevard Northbrook December 31, Store Store Store 1�7� 1 Operating Expenses Salaries and wages 48, 369 57 975 66, 826 173,170 149, 460 Rent 18,387 17,597 35,984 34,554 Payroll taxes 4,135 4,543 5,373 14,051 12,637 Utilities 4,750 2,337 3,940 11,027 10,372 Depreciation and amoritization 3,820 1,021 3,940 8,781 10,474 Insurance 5,641 7,131` 8,558 21,330 21,992 Supplies 2,174 2,954 3,046 8,174 6,708 Equipment Rent 2, 235 4, 412 3, 456 10,103 6, 575 Repairs and maintenance 1,063 1,125 2,560 4,748 4,966 cn Professional services 1,107 1,107 1,108 3,322 1,278 �i Heating 752 1,770 1,512 4,034 3,762 Provision for uncollectible checks and cash short 766 649 596 2,011 1,375 Laundry 409 380 493 1,282 1,252 Protection services 490 592 664 1,746 1, 497 Inventory variances and breakage 810 578 1,388 2,956 Telephone 243 243 247 733 1,200 Advertising 115 90 90 2 95 607 Miscellaneous 40 36 36 112 606 Taxes and licenses 28 18 23 69 64 TOTAL OPERATING EXPENSES (Exhibit 1� 94,524 87,193 120,643 302,360 272,335 (See notes to the $nancial statements) This statement is an integral part of report dated May 23, 1980 �i�� City of Brooklqn Center Schedule 5 Public Utilities Fund WATER DEPAftTMENT- COMPARATIVE OPERATING EXPENSES Classification by Funetion For the Yea�s Ended Source of Customer December 31, Supply Transmission Administration Accounting 1979 1978 Depreciation 52,052 54, 365 106, 417 107, 408 Labor 16,032 25,648 36,383 28,901 106,964 90,650 Electricity and gas 47,586 47,586 41,995 Rapairs and maintenance 1,475 3,156 646 708 5,985 19,554 Materials and supplies 12,688 4,211 3,194 2,212 22,305 15,595 Rent and administration 16,054 16,054 15,963 Equipment rental 33 3, 392 3, 974 7, 399 269 Payroll taxes 10,743 10,743 5,540 Postage 8,170 8,170 6,684 Professional fees 1,162 1,162 1, 047 Insurance 4,122 4,122 5,416 Employee benefits 3, 740 3, 740 2, 426 Fuel-Heating 4, 483 4, 483 2, 461 Printing 341 341 75 Schools and conferences 223 223 Uncollectible aceounts 78g Sm all tools and equipment 1, 500 1, 500 104 Miscellaneous 437 441 743 1,621 517 I TOTALS (Exhibit 19 134,753 87,854 82,243 43,965 348,815 316,490 (See notes to the financial statements) This statement is an integral part of report dated May 23, 1980 City of Brooklyn Center Schedule 6 Public Utilities Fund SEWER DEPARTMENT- COMPARATIVE OPERATING EXPENSES Classification by Function For the Years Ended Disposal and Customer December 31, Pumpin� Transmission Administration Accountin� 1979 1978 Depreciation 23,130 48, 272 71, 402 70, 778 Metro Waste Control Commission Charge (Note 5) 470, 334 470, 334 496, 804 Labor 11,306 15,352 13,053 12,592 52,303 50,678 Rent and administration 16, 054 16, 054 15, 963 Equipment rental 3, 392 3, 973 7, 365 Electricpty 8,017 8,017 8,233 Payroll taxes 6,766 6,766 5,540 Repairs and maintenance 622 2,147 646 3,415 11,787 Professional Fees 1,149 1,149 3,143 Postage 2,176 2,176 2,931 w Materials and supplies 622 1,152 2,498 255 4,527 4,050 I Insurance 3,130 3,130 5,436 Employee benefits 2,791 2,791 2,106 Small tools and equipment 508 1,500 2,008 767 Printing 178 Fuel heating 366 366 226 Miscellaneous 575 36 1,007 1,618 230 �I TOTALS (Exhibit l� 514, 972 67 467 54,162 16, 820 653, 421 678, 850 I, (See notes to the financial statements) This statement is an integral part of report dated May 23, 1980 City of Brooklyn Center Schedule 7 Public Utilities Fund STATEMENT OF UTILITY PLANT IN SERVICE AND ALLOWANCE FOR DEPRECIATION Utility Plant in Service Allowance for Depreciation Balance Balance Balance Balance January 1, Transfers and December 31, January 1, December 31, 1979 Additions Disposals 1979 1979 Additions Deletions 1979 Water Departments Mains and lines 5,600,023 6,495 5,606,518 690,966 56,000 746,966 Structures 1,262,534 76,741 1,339,275 331,875 42,085 373,960 Equipment 256, 459 256, 459 160, 551 8, 332 168, 883 Land 23,071 23,071 -0- -0- TOTAL WATER DEPARTMENT 7,142,087 83,236 7,225,323 1,183,392 106,417 1,289,809 Sewer Department Mains and lines 4,842,741 3,617 4,846,358 891,118 48,428 939,546 Structures 573,189 1,171 574,360 363,921 22,974 386,895 Equipment 10,030 10,030 -0- 10,03C Land 550 550 _p_ 10,030 _O_ TOTAL SEWER DEPARTMENT 5,426,510 4,78� 10,030 5,421,268 1,265,069 71,402 10,030 1,326,441 Work in Prog�ress 48,303 48,303 -0- T O T ALS (Exhibit 1� $12,616,900 88,024 58,333 $12,646,591 2,448,461 177,819 10,030 2,616,250 (See notes to the financial statements) This statement is an integral part of report dated May 23, 1980 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. INVESTMENT TRUST FUND Investment Trust Fund provides for the "pooling" or a centralized system for investing temporary surpluses of cash by merging cash balances from all other funds. The fund essentially is an inventory control over all invest- ments and investmen� income. Earnings are distributed annually on a pro rata participation basis. i i i City of Brooklyn Center Exhibit 21 Trust And A.�ency Funds COMPARATIVE C0147BINING BALANCE SHEET AGENCY TRUST Housing And l�re Department Public Investment Totals Redevelopment Relief Employees Trust December 31, Authority Association Retirement Assn. Fund 1979 1978 ASSETS Cash on hand and in depositories 238,136 238,136 230, 718 Temporary investments 49,274 122 42,358 91,754 213,362 Accrued revenue 3,287 300,601 303,888 254,336 D ue from other funds 228,662 228,662 27,348 Taxes receivable 2, 675 866 9, 459 13, 000 18, 048 Due from other governmental units 3, 979 3, 979 2, 839 Securities held for investm ent 177,506 169,992 13,173,687 13,521,185 11,246,364 cn `i' TOTAL ASSETS 229, 455 988 457,737 $13,712, 424 $14, 400, 604 $11, 993,U15 LIABILITIES AND FUND BALANCE Liabilities I I Accounts payable 73 25,176 25,249 21,085 Perform ance and other deposits 136,120 136,120 31,100 Due to other funds 3,840 3,840 2,714 Due to funds participating in Investment Trust Fund 13, 576, 304 13, 576, 304 11, 527, 091 TO T AL LIABILITIE S 3,913 25,176 $13,712,424 $13,741,513 $11,581,990 Fund Balance (Exhibit Expendable 225,542 988 432,561 659,091 411,025 TOTAL LIABILITIES AND FUND B ALAN C E 229,455 988 457,737 $13,712,424 $14,400,604 $11,993,015 I, (See notes to the financial statements) I I This statement is an integral part of report dated May 23, 1980 I' City of Brooklyn Center Exhibit 22 Trust And Agency Funds COMPARATIVE COb7BINING STATEIVIENT OF REVENUES', EXPENDITURES AN1� CHANGES IN FUND BALANCE I AGENCY TRUST Housing And Fire Department Public Investment For the Years Ended Redevelopment Refief Employees Trust December 31, Authority Association Retirement Ass. Fund 1979 1978 Revenues Ad valorem levies 43, 255 43, 255 175, 940 Intergovernmental Revenue: State insurance premium rebate 49,163 49,163 101,323 Contributions Enterpsise funds 27,751 27,751 15,642 Contributions Employee 8, 891 Interest on investments 17 061 7 22 640 979, 447 1, 019,155 800 369 Sale of assets 1,152,898 TOTAL REVENUES 60, 316 49,170 50, 391 979, 447 1,139, 324 2, 255, 063 cn Expenditures City Contributions Fire Relief Association 49,162 49,162 43, 786 Public Employees Retirement Association 24,562 24,562 1,031,020 Earnings distributed to participating Funds 978,181 978,181 765,576 Professional fees 700 75 1, 266 2, 041 1, 042 Miscellaneous 206 206 363 Transferred to H.R.A. Authority 43,962 TOTAL EXPENDITURES 906 49,162 24,637 979,447 1,054,152 1,885,749 Excess of Revenue Over Expenditures 59, 410 8 25, 754 85,172 369, 314 Fund Balance January 1 3, 238 980 406, 807 411, 025 41, 711 Adci: Pricr period adjustment Note 9) 162 894 162 894 Fund Balance December 31 (Exhibit 21) 225,542 988 432,561 659,091 411,025 (See notes to the financial statements) This statement is an integral part of report dated May 23, 1980 GENERAL FIXED ASSETS �ROUP OF ACCOUNTS General Fixed Assets are those fixed assets of a governmental jurisdiction which are not accounted for in an Enterprise, Working Capital, or Trust Fund. To lie classi�ied 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 current fiscal year; and (3) a significant value. City of Braokly.n Center Exhibit 23 STATEMENT OF GENERAL FIXED ASSETS B alance B alance January 1, December 31, 1979 A,cquisitions Disposals 1979 Investments in Fixed Assets Land and land improvements 374, 818 31, 999 406, 817 Buildings and building improvements 2,849,000 62,479 2,911,479 Park properties (including bLUldings) 1,560,792 1,560,792 Furniture and fi�rtures 175, 928 31, 463 3, 985 203, 406 Departmental equipment 1,309,279 432,641 16,307 1,725,613 Storm sewers and street projects 9,650,600 1,019,018 10,669,618 TOTAL INVESTMENT IN FIXED ASSETS $15,920,417 1,577,600 20,292 $17,477,725 Sources of Investments Decreases Increases I General indebtedness 600, 491 600, 491 General fund revenues (includes ad valorem levies) 1, 988, 646 20, 292 490, 098 2, 458, 452 Liquor fund revenue certificates 304, 571 304, 571 cn Contributions received 327, 398 327, 398 Special assessment projects 9,652,660 1,019,018 10,671,678 Capital Projects Fund: General obligation bonds 2,250,000 2,250,000 Ad valorem tax levy for 1968 and 1969 265, 243 265, 243 Sale of land 38, 654 38, 654 I Transfer of surplus from special assessments I Debt Service Funds 198, 386 198, 386 Transfer from Mayor and Council's Contingent Account 3, 000 3, 000 Interest earnings on investments 220, 523 43, 820 264, 343 Federal grants 21,245 21,245 Local units State grants 49,600 24,664 74,264 TOTAL SOURCES OF INVESTMENTS $15,920,417 20,292 1,577,600 $17,477,725 (See notes to the financial statements) This statement is an integral part of report dated May 23, 1980 GENERAL LONG-TERM OEBT GROUP OF ACCOUNTS 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 constiZuent funds. Moreover, the proceeds of such debt may be spent on facilities which are utilized i�l the operations of several funds. For these reasons, the amount of unmatured long-term indebtedness which is backed by the futl 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 °C W F- and notes which have a maturity of more than one year from date of Z issuance. O J Q �J a W Exhibit 24 City of Brooklyn Center COMPARATIVE STATEMENT OF GENERAL LONG-TERPJI DEBT December 31, 1979 1978 Amounts Av�lable And To Be Provided Amounts available in debt service funds (Exhibit 11) 363, 471 334, 815 Amounts to be provided in future periods General obli�ation bond princ;ipal 1,751,529 1,990,185 S�,ecial assessments levied on city-owned properties 132 582 164, 882 TOTAL AMOUNT AVAILABLE AND TO BE rttUVtli�;li 2.247.582 2.489.882 General Debt To Be Paid i n Future Periods Principal portion of debt 2, 247, 582 2, 489, 882 TOTAL _GENERAL DEBT_ TO BE PAID IN FUTURE �PERIODS 2,247,582 2,489,882 I I, (See notes to the financial statements) This statement is an integral part of report dated May 23, 1980 i -58- f City of Brooklyn Center Schedule 8 GENERAL GOVERNMENTAL EXPENDITURES BY FUNCTION Last Ten Fiscal Years Public Community Fiscal General Safety and Public Health Parks and Debt Pension Year Government Welfare Works Services Recreation Service Expense 1970 279,404 495,132 407,615 16,330 337,106 286,621 176,164 1971 444,061 624,455 452,245 23,694 481,854 295,302 193,035 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 546,649 700,438 522,297 26,555 484,811 389,397 227,727 1975 628,341 761,670 599,314 43,269 543,271 383,708 202,704 cn 1976 722,116 849,672 692,545 62,014 633,935 411,730 190,890 1977 764,921 961,851 761,542 50,973' 639,315 388,130 258,837 1978 868,776* 1,151,480* 733,615 66,423* 795,116* 380,180 1979 688,539* 1,521,159* 892,470* 48,576* 860,283* 356,905 *Pension expense is allocated to these funetional expenditures r City of Brooklyn Center Schedule 9 REVENUE OTHER THAN SPECIAL ASSESSMENTS Last Ten Fiscal Years Charges Revenues in Excess General for Current Licenses of Expenditures Fiscal Properfy Shared Se�viaes and and Fines and Public Liquor Year Taxes Taxes Other Revenue Permits Forfeitures Utilities Stores 1970 $1,122,156 440,813 206,399 49,859 57,970 331,351 172,761 1971 1,256,531 526,907 302,073 67,837 53,638 276,935 168,406 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 1,745,667 1,024,571 432,083 101,380 42,940 381,458 150,902 rn 1976 1,725,854 1,432,745 486,371 102,399 48,475 103,848 147,143 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 I I I City of Brooklyn Center Schedule 10 TAX LEVIES AND TAX COLLECTIONS Last Ten Years Ratio of Collections Percentage Collections Accumulated of Current Levy of Prior Ratio of Delinquent Year's Taxes Collected Year's T�es Total Accumulated Taxes to Year Total During Fiscal During l�scal During �fscal Total Collections of Delinquent Current Year Collected Ta�r Levy Period Period Period Collections T� Levy Taxes Tax Levy 1970 $1,112,080 $1,086,177 97.68 20,620 $1,106,797 .9952:1 65,026 .05847:1 1971 1,224,739 1,112,685 90.85 22,252 1,134,937 .9267:1 30,326 .02476:1 1972 1,195,237 1,163,912 97.38 96,219 1,260,131 1.0543:1 48,409 .04050:1 1973 1,353,452 1,302,941 96.27 19,480 1,322,421 .9771:1 42,173 .03116:1 a, 1974 1,518,271 1,442,873 95.03 34,450 1,477,323 .9730:1 89,357 .05885:1 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 1977 1,880,700 1,694,382 90.09 198,250 1,892,632 1.0063:1 269,971 .14355:1 1978 2,060,012 1,995,621 96.87 163,701 2,159,322 1.0482:1 170,662 .08285:1 1979 2,316,550 2,277,597 98.32 58,083 2,335,680 1.0083:1 146,042 .06304:1 Note: The City`s taxes are the only ones included in this table. Schedule 11 City of Brooklyn Center ASSESSED VALUE AND MARKET VALUE OF ALL TAXABLE PROPERTY Last Ten Years 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 Population (*Actual) 35,173* 36,370 36,908 37,207 36,954 37,081 36,116 34,110 33,700 32,950 Real Property Assessed Value (Limited): City: Homestead 6,882,636 15,956,478 52,150,596 53,857,283 55,031,870 62,354,181 69,130,468 67,641,018 72,075,015 70,506,973 Excess and non-homestead 19,089,306 10,500,479 36,527,538 40,147,670 42,501,704 47,138,412 50,356,911 53,976,290 54,893,227 63,605,303 Area-wide allocation (net) 460,981 133,422 201,206) 1,190,083) 1,464,192) 1,832,196) Total Assessed Value 25,971,942 26,456,957 88,678,134 94,004,953 97,694,555 $109,626,015 $119,286,173 $120,427,225 $125,504,050 $132,280,080 Estimated Market Value (Limited): $226,020,864 $229,923,135 $249,328,665 $262,535,943 $270,699,261 $301,639,725 $329,463,243 $381,926,955 $396,811,532 $451,519,456 Personai Property Assessed V alue 1,588,260 1,313,422 2,403,743 2,657,185 2,852,992 2,800,885 3,034,703 3,537,911 4,389,397 3,816,766 Estimated M arket Value 10,394,151 10,730.184 5,590,100 6,179,5�0 6,634,865 6,505,874 7,059,986 8,227,700 10,207,900 8,876,200 Total Real and Personal Property Assessed Value. 27,560,202 27,770,379 91,08 96,662,138 $100,84 $112,426,900 $122,320,876 $123,965,136 $129,893,447 $136,096,846 Estim ated M arket Value $236,415,015 $240,653,319 $254,918,765 $268,715,443 $277,334,126 $308,14 $336,523,229 $290,154,655 $407,019,432 $460,395,656 Ratio of Assesaed Value to Eatim ated Market V alue .11658:1 .11540:1 .35730:1 .35972:1 .36363:1 .36485:1 .36348:1 .317733:1 .319133:1 .11358:1 Per Capita Valuations Assessed Value 783.56 763.55 $2,467.81 $2,597.96 $2,729.00 $3,031.93 $3,386.89 3,634.28 3,854.40 4,130.41 Estfmat�d M arket Value $6,721.49 $6,616.81 $6,906.87 $7,222.17 $7,504.85 $8,310.07 $9,317.84 $11,438.13 $12,077.73 $13,972.55 (1) 1972 and subsequent valuations reflect changes as provided for in Laws 1971, Extra Session, Chapter 31, as amended. (2) 1975 property values and subsequent values include actuai amount allocated pursuant to Laws 1971, Extra Session, Chapter 24 from area-wide "Pool". i i i i i w �■it I City of Brookiyn Center Schedule 12 TAX RATES AND TAX LEVIES Years 1960 Throu�h 1980 Area School District County Total City, School, County and State N.H.S. Year Voc-Tech #286 #279 #281 #11 Special State Dist. #286 Dist. #279 Dist. #281 Dist. #11 Collectible City School �arl Brown) (Osseo) (Robbinsdale) (Anoka) Districts (3) N.H.S. H.S. tE�l Brown) (Osseo) (Robbinsdale) (Anoka) (4) Tax Rates Mills Per $100 of Assessed Value 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 I964 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 6.84 340.89 321.13 280.35 270.40 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 51.52 227.90 203.00 158.76 160.00 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 50.99 .78 266.63 252.28 184.57 265.29 70.00 388.35 374.00 306.29 386.23(8) 1970 49.65 4.51 294.55 295.42 215.01 297.66 77.18 425.89 426.7fi 346.35 424.49(8) 1971 44.11 7.96 250.31 216.00 204.90 257.09 77.02 379.40 345.09 333.99 378.22(8) 1972 43.04 10.38 183.24 166.09 147.20 173.68 80.45 317.11 299.96 281.07 297.17(8) 1973 14.718(1) 2.644(1) 55.986(1) 54.023(1) 44.727(1) 54.920(1) 27.014<1) 100.162(1) 98.'399(1) 389.103(1) 96.652(1) 1974 15.710 3.084 56.805 54.634 50.289 54.845 28.965 104.564 102.393 98.048 99.520 1975 17.988(2) 3.372 61.074 57.654 50.787 60.190 33.142 115.576 112.156 105.289 111.320 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 1978 16.646(2) 2.132 53.537 52.434 49.690 55.840 35.086 107.401 106.298 103.554 107.572 1979 17.880(1) 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 i •.a' Tax Leviea on Property 4Yithin Brooklny Center Area School Diatrict County Total City, Year Voc-Tech #286 #279 #281 #11 Total Special Schools Collectible School (Earl Bmwr� (Osseo) (Robbinadale) (Anoka) School Districts (7) 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 551,349 771,611 367,691 59,153 1,749,804 440,294 470,746 98,108 2,758,952 1963 587,665 830,918 524,099 76,198 2,018,880 528,874 561,236 139,015 3,248,005 1964 622,578 883,842 526,189 100,102 2,132,711 615,335 593,890 147,785 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 1,003,287 623,412 171,926 2,526,978 744,231 690,212 245,668 4,207,089 1y67 836,669 1,142,570 790,174 210,428 2,979,841 828,401 804,858 268,168 9,881,268 1968 888,684 1,200,483 901,846 295,160 3,286,173 1,069,364 847,632 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 1,375,490 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 1,340,543 8,738,610 1974 298,106 1,966,912 1,571,708 1,535,655 632,575 5,504,960 2,799,819 1,518,562 9,832,341 I 1975 296,212 1,652,565 1,742,105 1,552,542 754,898 5,998,322 3,370,680 1,805,754(6) 11,174,756 1976 270,428 1,681,797 1,804,010 1;629,b35 789,077 6,174,947 3,511,979 1,752,564(6) 11,439,490 1977 265,953 1,786,278 1,834,979 1,800,122 910,670 6,598,002 4,156,78R 1,849,989(6) 12,604,779 1978 231,488 1,853,423 1,865,301 1,891,345 889,060 6,680,617 4,345,G90 2,060,012(6) 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 6,7t2,141 4,711,67t ?,350,962 13,774.779 (1) Due to determination of assessed valuation calcualtion changed by statelaw (3) Includes M1ictrc Council, Metro Transit Commission, Mosquito Control District, enacted in 1971 the resulting mill rate is appro�mately one-third as great Park M1luseum. as before the enactment of the new law. 4) Area Vo-Tech school tax rate is excluded. (2) Includes tax levy for the Housing and Redevelopment Authority of Brooklyn Center. Schedule 13 City of Brooklyn Center NOTES TO TAX RATES AND TAX LEVIES Years 1960 Through 1980 Tax Limita'tion by Statute: City Tax Levy pursuant to limitations of Laws of Minnesota 1973, Chapter 650, Article IV Sections 5, 6& 7. Debt Service, certain special levies, and special assessments for local improvements not included in above limitation. Taxes Due Date: First Monday in January Taxes Delinquent Date: Personal Property March 1, amounts over $10.00 first half March 1; second half July 1 Real Estate first half May 31; second half October 31 No discount allowed Penalties for Delinquency: (Amended, Laws 1974, Chapter 459) Personal Property 8$ Homestead Real Estate June 3$, July 4$, August 5$, September 6$, October 7%, November and December 8%; after first Monday in January 10$. Non-Homestead Real Estate June 7$, July 8$, August 9 0, 5eptember 10$, October 11 a, November and December 12 0; after first Monday in January 14$. Tax sale date second Monday in May Taxes are certified to Hennepin County and collected by the County Treasurer and remitted to the City. Tax collections are distributed in the proportion of the City levy to all levies g 4_ i i City of Brooklyn Center Schedule 14 SPECIAL ASSESSMENT COLLECTIONS Last Ten Years Current Special Total Assessments Amount 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 F�scal Period Due At Year End Collected Uncollected 1970 $680,198 $605,385 .8900:1 $165,592 99.37 4,270 1971 844,933 660,490 .7817:1 232,717 97.83 18,354 1972 807,317 647,695 .8023:1 270,543 97.19 22,717 1973 787,054 589,500 .7490:1 312,177 94.89 40,248 1974 742,130 634,43� .8549:1 202,970 85.49 107,696 cn 1975 679,068 567,338 .8355:1 314,700 83.55 204,701 1976 736,438 444,699 .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 67.08 199,822 1979 585,105 461,550 .7888:1 361,906 78.88 123,555 City of Brooklyn Center Schedule 15 RATIO OF NET BONDED DEBT TO ASSESSED VALUE AND NET BONDED DEBT PER CAPITA Last Ten Years Ratio of Less: Amount Net Bonded Net Bonded �scal Estimated Assessed Gross In Debt Net Debt to Debt Per Period Population Value* Bonded De.bt Service Funds Bonded Debt Assessed Values* Capita 1970 35,173 66,796,164 10,733,000 1,805,385 8,927,615 ,1337:1 253.82 1971 36,370 82,680,606 10,005,000 1,7y3,277 8,211,723 .0993:1 255.78 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 7,105,731 .0780:1 191.52 1974 36,954 96,662,138 8,407,000 1;874,002 6,532,998 .0675:1 176,7g II 1975 37,081 100,386,566 7,605,000 2,115,984 5,489,016 .0547:1 148.03 �I 1976 36,116 112,293,478 7,770,000 2,118,250 5,581,750 .0497:1 154.55 I 1977 34,110 122,320,876 ?,015,000 2,193,710 4,821,290 .0394:1 141.35 1978 33,700 123,965,136 6,215,000 2,652,259 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 *Assessed value has been restated for years prior to 1972 so as to be on a basis comparable to 1972. City of Brooklyn Center Schedule 16 COMPUTATION OF DIRECT AND OVERLAPPING DEBT December 31, 1979 City of Brooklyn Center Gross Sinking Share Governmental Unit Debt Funds Net Debt Per Cent Amount Direct and Overlappin� Debt Direct Debt City of Brooklyn Center (1) 5, 475, 000 3,138, 481 2, 336, 519 100. 00 0 2, 336, 519 Overlapping Debt 5chool Districts: No. 281 (Robbinsdale) 23,648,000 5,524,972 18,123,028 10.2Do 1,848,549 No. 11 (Anoka) 30, 800, 000 4,126,130 26, 673, 870 5. 90$ 1, 573, 758 No. 279 (Osseo) 27,115,000 2,940,459 24,174,541 26.800 6,478,777 No. 286 (Brooklyn Center) 1,345,000 201,710 1,143,290 100.00$ 1,143,290 Area Voc. Tech School: No. 287 16,300,000 16,300,000 4.900 798,700(2) Metro Transit 17, 850, 000 2, 206, 000 15, 644, 000 1. 50% 234, 660 Metro Council Revenue Supported 234,283,000 89,155,296 145,127,704 (3) (3) Metro Council Tax Supported 35,660,000 21,731,857 13,928,143 1.50$ 208,922 Hennepin County 39, 400 000 4, 527 829 34, 872 ,171 2. 70$ 941, 549 Hennepin County Park District 2, 750, 000 580, 763 2,169, 237 2.70$ 58, 569 Total Overlapping Debt $429,151, 000 $130, 995, 016 $298,155, 984 13, 286,?74 Total Direct Overlapping Debt $434, 626, 000 $134,133, 497 $300, 492, 503 15, 623, 293 (1) Includes $2,805,000 debt outstanding to be paid from special assessments, $710,000 debt outstanding on State Aid Street Bonds, and $555,000 debt outstanding on revenue bonds. (2) This debt is approximately 50% supported by State Aids and has been so reduced here. (3) This .debt is paid by Metro area sewer service charges, including Brooklyn Center from its municipal sewer system Overlapping Comparative Net Debt Ratios Char�eable to City Tbtal Direct Debt Debt Debt to assessed value ($136, 096, 846) 11. 48 0 1. 72 0 9. 7 6 0 Debt to market value ($460, 395, 656) 3. 39 0 510 2. 89 0 Per capita debt (population 32, 950) $474.15 $70. 91 $403. 24 i City of Brooklyn Center Schedule 17 STATEMENT OF LEGAL DEBT MARGIN December 31, 1979 Assessed Value, January 1, 1979 $136,096,846 Debt limit 6.67$ of assessed value (See Note A) 9,077,660 Total bonded debt 5, 4? 5, 000 Deduetions (See Note B)� A. Bonds 1. Special Assessment Bonds 2,805,000 2. State Aid Street Bonds 710 000 3. Utility Revenue Bonds 555,000 4,070,000 B. General Debt Service Fund 341, 885 4, 411, 885 Total Debt Applicable to Debt Limit 1, 063,115 Legal Debt Margin, December 31, 1979 8,014,545 Notec (A) M.S.A. Secticin 475.53 (See following page) Note: (B) M.S.A. Section 475.51 (See following page) i 1 1 1 1 i 1 68- Schedule 17 Cont'd City of Brooklyn Center STATEMENT OF LEGAL DEBT MARGIN December 31, 1979 I Note A: M.S.A. Section 475.53 et seq. Limit on Net Debt: I� "Subdivision 1. Generally, except as otherwise provided in ections 475.51 no munici alit exce t a school district or s P Y P 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 gross 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 followi ng (1) Obligations issued for improvements which are payable wholy or partly from the proceeds of special assessments levied upon property specially benefited thereby, including those which are general obligations of the municipality issuing them, if the municipality is entitled to reimbursements in whole or in part from the proceeds of the special assessments. (2) Warrants or orders havin� no definite or fixed maturity. 3) Obligations payable wholly from the income from revenue- producing c;onveniences. I n im rove- (4) Obligations to create or ma�.ntain a permane t r ment revolving fund. (5) Obligations issued for the acquisition, and betterment of public water-works systems and publie lighting, heating or power systems and of any combination thereof or for any other publie 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 sinl�ng fund for the extinguishment of obligations other than those deductible under this subdivision. i (7) All other obligations which under the provisions of the law authorizing their issuance are not to be included in computing the net debt of the municipality." 69- City of Brooklyn Center Schedule 18 RATIO OF ANNUAL DEBT SEftVICE EXPENDITURES FOR GENERAL BONDED DEBT TO TOTAL GENEftAL EXPENDITURES Last Ten Years Ratio of Debt Total Total General Service to General Year Principal Interest Debf Service Expenditux�es Expenditures o) 1970 49,600 164,778 214,378 $1,679,129 12.77$ 1971 68,800 228,351 297,151 2,210,671 13.44 1972 90,000 223,927 313,927 2,219,355 14.14 1973 165,000 219,101 384,101 2,278,020 i=6.86 1974 180,000 209,397 389,397 2,577,758 15.10 1975 185,000 198,708 383,708 2,839,621 13.51 0 1976 225,000 186,730 411,730 3,244,183 12.76 1977 215,000 173,130 388,130 3,239,892 11.98 1978 220,000 160,180 380,180 4,146,063 9.17 1979 210,000 146,905 356,905 5,267,380 6.78 �r ■r a i r �r i■r r a■� City of Brooklyn Center Schedule 19 SCHEDULE OF REVENUE BOND COVERAGE Last Ten Years Net Ratio of Net Gross (1) Revenue Debt Service Revenue to Year Revenue Expenses Available Principal Interest T�tal Debt Service 1970 $1,060,322 400,824 659,498 45,000 35,200 80,200 8.2 to 1 1971* 1,140,730 558,189 582,541 45,000 34,300 79,300 7.3 to 1 1972 863,111 447,567 321,106 30,000 31,767 61,767 5.2 to 1 1973 1,053,238 383,000 700,238 30,000 30,525 60,525 11.6 to 1 1974 1,048,447 471,046 577,401 30,000 29,400 59,400 9.7 to 1 1975 1,107,926 556,573 551,353 30,000 28,275 58,275 9.5 to 1 1976 1,235,274 710,662 524,612 35,000 27,105 62,105 8.4 to 1 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 l 1979 1,572,244 824,417 747,827 35,000 23,010 58,010 12.9 to 1 (1) Excludes depreciation and interest on bonds *1971 and prior includes Liquor Store Revenue Bonds Schedule 20 SUMMARY OF DEBT SERVICE REQUIREMENTS TO MATURITY December 31, 1979 1 1 ;1 1 City of Brooklyn Center Schedule 20 SUMMARY OF DEBT SERVICE REQUIREMENTS TO MATURITY December 31, 1979 Total Total Total Total Fiscal General G.O. Special State-Aid Total Debt Service Year Obligation Bonds Assessment Bonds �Street Bonds Revenue Bonds Requirements 1980 229,665 626,75? 99,546 56,645 $1,012,613 1981 211,145 513,435 96,109 60,231 880,920 1982 207,965 463,472 97,515 58,720 827,672 1983 204,460 429,665 93,750 57,160 785,035 1984 200,630 516,529 89,940 55,600 862,699 1985 181,475 282,325 86,070 58,991 608,861 1986 177,700 153,185 82,140 57,285 470,310 1987 168,600 136,345 78,165 55,53D 438,640 1988 169,500 115,070 74,160 53,775 412,505 1989 159,750 89,330 70,125 52,020 371,225 1990 84,830 66,075 50,265 181,i70 1991 61,620 62,025 48,510 172,155 1992 46,755 46,755 Total $1,910,890 $3,452,563 995,620 ?11,487 $7,Q70,560 r City of Brooklyn Center Schedule 20 SUMh7ARY OF DEBT SERVICE REQUIREMENTS TO MATURITY Cont'd. December 31, 1979 Tot al Fiscal General Obli�ation Bonds G.O. Special Assessment Bonds G.O. Sta2�Aid Street Borrls Revenue Bonds Debt Service Requirements Year Principal Interest Principal Interest Princi�al Interest Principal Interest Principal Interest 1980 140,000 89,665 480,000 146,757 55,000 44,546 35,000 21,645 710,000 302,613 1981 130,000 81,145 390,000 123,435 55,000 41,109 40,000 20,231 615,000 265,920 1982 135,000 72,965 360,000 103,472 60,000 37,515 40,000 18,720 595;000 232,672 1983 140,000 64,460 345,000 84,665 60,000 33,750 40,000 17,160 585,000 200,035 ±984 145,000 55,630 450,000 66,529 60,000 29,940 40,000 15,600 695,000 167,699 1985 135,000 46,475 240,000 42,325 60,000 26,070 45,000 13,991 480,000 128,861 1986 140,000 37,700 125,000 28,185 60,000 22,140 45,000 12,285 370,000 100,310 1987 140,000 28,600 115,000 21,345 60,000 18,165 45,000 10,530 360,000 78,640 1988 150,000 19,500 100,000 15,070 60,000 19,160 95,000 8,775 355,000 57 1989 150,000 9,750 80,000 9,330 60,000 10,125 45,000 7,020 335,000 36,225 1990 60,000 4,830 60 6,075 45,000 5,265 165,000 16,170 1991 60,000 1,620 60,000 2,025 45,000 3,510 165,000 7 v w 1992 45,000 1,755 45,000 1,755 TO T A L $1,405,000 505,890 $2,805,000 647,563 710,000 255,620 555,000 156,487 $5,475,000 $1,595,560 I i Schedule 21 City of Brooklyn Center TEN LARGEST TAXPAYERS (Taxes Levied 1979, Payable 1980) Percent to T ot al Market Assessed Assessed T axp ayer V alue V alue V alue Brookdale Mall $8,763,200 $3,768,176 2.77$ 5ears 4,987,600 2,144,668 1.58$ Twin Lake North Apartments 4,372,900 1,749,160 1.290 Donaldsons 3,892,700 1,673,861 1.23$ D aytons 3, 62 8, 200 1, 5 60 ,12 6 1.15 0 Medtronics Office Tower 3,518,500 1,381,246 1.02$ Four Courts Apartments 3, 363, 400 1, 345 360 99°s Holiday Inn 3,082,400 1,2�8,118 .920 Chippewa Park Apartments 2,854,400 1,141,760 .84$ J.C. Penny 2,613,100 1,123,633 .83% -74- Schedule 22 City of Brooklyn Center SCHEDULE OF INSURANCE COVERAGE December 31, 1979 Type of Covera�e and Details Policv F��riod Liabilit.y Limits From To I. Statutory Liability to EYnpbyroes 7-1-79 1-1-80 Statutory a. Workers' Compensation 7-1-79 1-1-80 Statutory II. Liability to the Public a. *General Liakility, Campx�eher�sive 1-1-7 9 1-1- 80 (1) Bodily injury 500,000 Combined Single Limit (2) Property Damage 500,000 Combined Single Limit 3) Personal injury 500, 000 Combined Single Limit b. Autcmotile liability, Canprehexsive 1-1-79 1-1-80 (1) Bodily Injury 500 Occurrence (2) Property Damage 500,000 Occurrence (3) Uninsured Motorist 50 Occurrence c. Liquor Stores' Dram Shop 1-1-79 1-1-80 500,000 Occurrence III. Loss of Income on City Enterprises a. Liquor Stores 1-1-79 1-1-80 50,000 Per Location b. Public Utilities 1-1-79 1-1-80 300,000 Buildings Content: Structures !Actual (Replacement Cash Cost) Value; IV. Insurance on City Property a. Public and Institutional Property, All Risk, $100 deductible 90$ Co-Insurance 1-1-79 1-1-80 (1) Civic Center $3,600,000 300,000 (2) East Fire Station 365,000 19,000 (3) Municipal Service Garage 750,000 44,000 (4) Elevated Water Towers-3 locations 1,893,000 -0- {5) Park shelter buildings-17 locations 873,000 10,000 6) Pump houses-7 locations 318, 200 102 000 (7) Lift stations-9 locations 370,000 20,000 (8) Meter station 10,000 (9) Storage building 30,000 (10) Outdoor lighting systems-6 locations 133,800 (11) Liquor store fire station 345 000 107 000 (12) Leased liquor 'stores -2 locations 2A6,000 (13} Movable Properties 154,974 Liability I�imits b. 13oiler and machinery 1-1-79 1-1-80 1,000,000 per accident c. Auiomotive Physical Danage 1-1-79 1-1-80 (1) Comprehensive ACV-No Deductible (2) Collision ACV-500 Deductible V Criminal Acts a. Fidelity and faithful performance 200,000 per loss b. Money and securities (bi•oad form) Various c. Depositor's forgery 50,000 d. Public official liability 5-18-70 5-18-80 1,000,000 *The comprehensive general liability includes the following additional coverages (a) All employees as additional insureds (b) Personal injury coverage to include false arrest, libel, slander, wrongful entry or eveiction or invasion of right of privacy (c) Broad contractual liability (d) Products liability -75- Schedule 23 Cit�r of Brooklyn Center MISCELLANEOUS STATISTICAL FACTS December 31, 1979 Date of Incorporation February 14, 1911 Date of Adoption of City Chapter November 8, 1966 Effective December 8, 1966 Form of Government Council-Manager Fiscal Year Begins January 1 Area of City 8� square miles Miles of Streets: Cit y 100 State 12 County 6 Miles of Storm Sewers 37 Number of Street Lights 882 Building Permits: Number of Permits Issued: 1979 606 1978 818 1977 566 1976 568 1975 645 1974 423 1973 390 1972 708 1971 425 1970 404 1969 460 1950-1968 inclusive 11, 474 I Estim ated Cost 1979 13,081,520 1978 13,578,901 1977 6,2�8,087 1976 3,786,638 1975 '5,972,910 1974 6,968,172 1973 5,110,140 1972 19 907 041 1971 8,487,763 1970 7,499,386 1969 10,441,322 1950-1968 inclusive 134,704,012 Fire Protection: Number of Stations 2 Number of Volunteer F`iremen 37 Police Protection: Number of Stations 1 Number of Employees 45 Vehicle Patrol Units 11 -76- Cit of Brookl�n Center Schedule 23 MISCELLANEOUS STATISTICAL FACTS Cont d. December 31, 1979 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 16 Part-time employees 200 (Seasonal) Supervised playgrounds 17 Park shelters 17 Ice skating rinks 17 Hockey rinks 6 Softball diamonds 23 Baseball diamonds 5 Tennis courts 12 B asketball courts 6 Education: Public Schools: School Districts within Brooklyn Center 4) No. 11 No. 286 No. 281 No. 279 (Anoka) �arle Brown) �tobbinsdale) (O�seo) Total school buildings 34 2 21 18 School buildings within Brooklyn Center 1 2 1 3 Total students regis- tered 31,630 1,424 18,585 15,336 Students from Brooklyn Center reg�stered 1, 489 1, 424 735 3, 475 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 �1979 assessed valuation $478,438,888 40,474,508 $463,141,370 $230,947,763 �1979 assessed val- uation in Brooklyn Center 15,628,425 40,474,508 40,413,098 37,232,038 Parochial schools (1) St. Alphonsus School grades 4-8 Total students registered 350 *Assessed valuation prior to fiscal disparities and t� increment calculations. -77- Schedule 23 City of Brooklyn Center Cont'd. MISCELLANEOUS STATISTICAL FACTS December 31, 197 9 Munic�pal Water Plant: Number of connections 7, 932 Average daily consumption 3, 237, 090 gallons Peak daily consumption 8, 549, 000 gallons Plant capacity daily 15, 264, 000 gallons Miles of water mains 108 Number of fire hydrants 774 Number of wells 7 Numer of elevated reservoirs 3 Storage capacity 3,000,000 gallons Water rate per thousand gallons 35� Municipal Sewer Plant: Number of connections 8, 263 Miles of sanitary sewer 98 Daily disposal capacity 7,416,000 gallons Number of life stations 9 Residential rate 15.75 per quarter Munic�ipal Liquor Stores (Off Sale) Number of owned stores 1 Number of leased stores 2 1979 sales $2, 289, 874 City Employees: As of December 31, 1979 Permanent or regular 119 Temporary or part-time 142 Total 261 Elections Registered voters City election 1979 17 640 Number of votes cast in city election 577 Percentage of registered voters voting 3.3$ Registered voters last state election 21, 066 Number of votes cast last state election 12,, 679 Percentage of registered voters voting 60.2$ Pop ulatio n 1940 1, 870 1950 4,284 1960 24,356 1965 (Special census) 30,108 1970 35,173 1979 (Estimate) 32,950 -7 8-