HomeMy WebLinkAboutAnnual Audited Financial Report-1978 ANNUAL
AUDtTED �INANCIAL REPORT
of the
CITY MANAGER
of
I BROOKLYN CENTER, MINNESOTA
For The Year Ended December 31, 1978
GERALD G. SPLINTER, C1TY MANAGER
1
Prepared by
j THE DEPARTMENT OF FINANCE
Paul W. Holmlund, Director
(Member of Municipal Finance Officers
Association of the United States and Canada)
City of Brooklyn Center
ANNUAL FINANCIAL REPORT
For the Year Ended December 31, 1978
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 Statements
Comparative Combined Balance Sheet
All Funds and Account Groups 1 ].7
Comparative Combined Statement of
Revenues Expenditures and Changes
1 in Fund B alances All Governmental
Fund Types 2 lg
Comparative Combined Statement of
Revenue, Expenses and Changes in
Retained Earnings and Fund Balances
Enterprise Eunds and Non-Expendable
Trust Funds 3 19
Notes To Financial. Statements
Note 1 All Funds 20, 21, 22, 23
Note 2 All Funds 23
Note 3 Municipal Liquor Fund 23
City of Brooklyn Center
ANNUAL FINANCIAL REPORT
For the Year Ended December 31, 1978
TABVE OF CONTENTS
Exhibit Page
Number Number
Notes to Financial Statements Continued)
Note 4 Public Utilities Fund 24, 25
Note 5 Public Utilities Fund 26
Note 6 Special Assessment Funds and Statement of
General Long-Term Debt anfl Interest 26
Note 7 Pension Plans and Pension Funds 27
Note 8 Investment Trust Fund 27 28
Note 9 Brookl n Center Housing and
Y
Redevelopment Authority 2 8
Note 10 Contingent Liabilities 28
General Fund Statements
Comparative Balanee Sheet 4 29
Com arative Statement of Changes in Fund Balance 5 30
P
Comparative Statement of Revenue Appropriations
From Fund B alance Expenditures Encum-
brances and Transfers 6 31
Statement of Revenue Budget and Actual
Objective Classification Schedule 1 32, 33
Comparative Statement of Expenditures
and Encumbrances Budget and Actual
Classified as to Activity, Characte�
and Object Schedule 2 34
Special ftevenue Funds Statements
Comparative Combined Bal.ance Sheet 7 35
Comparative Combined Statement of
Revenue, Expenditures and Changes
in Fund Balances 8 36
City of Brooklyn Center
ANNUAL FINANCIAL REPORT
For the Year Ended December 31, 1978
TABLE OF CONTENTS
Exhibit Page
Number Number
Debt Service Funds Statements
Comparative Combined Balance Sheet 9 37
Comparative Combined Statement of Revenue,
Expenditures and Changes in Fund
i B alances 10 38
Capital Projects Funds Statements
Comparative Combined Balance Sheet 11 39
Comparative Combined Statement of Revenue,
Expenditures and Changes in Fund
B alances 12 40
Special Assessments Funds Statements
Comparative Combined Balance Sheet 13 41, 42
Comparative Statement of Construction
Appropriations and Expenditures 14 43
Comparative Combined Statement of Revenue
Expenditures and Changes in Fund
B alances 15 44
Enterprise Funds Statements
Comparative Combined Balance Sheet 16 45
Comparative Combined Statement of
Operations and Retained Earnings 17 46
Comparative Combined Statement of
Changes in Financial Position 18 47
Comparative Statement of Operating
Expenses Municipal Liquor Fund Schedule 3 48
1 Water Department Comparative
Operating Expenses Schedule 4 49
Sewer Department Comparative
Operatin� Expenses Schedule 5 50
i' Statement of Utility Plant in Service
and Allowance for Depreciation Schedule 6 51
City of Brooklyn Center
ANNUAL FINANCIAL REPORT
For the Year Ended December 31, 1978
TABLE OF CONTENTS
Exhibit Page
Number Number
Trust and Agency Funds Statements
Comparative Combined Balance Sheet 19 52
Comparative Combined Statement of Revenue
Expenditures and Changes in Fund 20 53
B alances
General Fixed Assets Statements
5tatement of Changes in General Fixed
Assets 21 54
General Long-Term Debt and Interest Statements
Comparative Statement of General
Long-Term Debt and Interest 22 55
Statistical Information Section
City of Brooklyn Center
LISTING OF CITY OFFICALS
For the Year Ended December 31, 1978
Elected Officals
Term of Office Term Expires
Mayor Dean Nyquist Two Years 12-31-79
j Councilman Bill Fignar Three Years 12-31-81
Councilman Tony Keufler Three Years 12-31-81
Councilman Gene Lhotka. Three Years 12-31-79
Councilwoman Cecilia Scott Three Years 12-31-80
Officals Not Elected
City Manager Gerald G. Splinter
City Clerk Allen S. Lindman
City Treasurer Paul W. Holmlund
City Attorney Richard Schieffer
Adrninistrative Assistant Mary Harty
Administrative Assistant Brad Hoffman
Department Heads:
Finance Paul W. Holmlund
Public Works James Merila
Police James Lindsay
Fire Ronald Boman
Planning and Inspection Ronald Warren
Park and Recreation Eugene Hagel
Assessment Peter Koole
Liquor Stores Truman Nelson
Street and Park Superintendent Henry Davis
Public Utilities Superintendent Frank Smith, Jr.
Recreation Superintendent Arnold Mavis
Health Officer Duane Orn, M. D.
Fire Marshal Linus Manderfeld
Sanitarian Thomas Heenan
Civil Defe:�se Coordinator James Lindsay
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City of Brooklyn Center
LISTING OF CITY OFFICIALS
At May 31, 1979
Elected Officials
Term of Office Term Expires
Mayor Dean Nyq
uist Two Years 12-31-79
Councilman Tony Kuefler Three Years 12-31-81
Councilman Bill Fignar Three Years 12-31-81
Councilman Gene Lhotka Three Years 12-31-79
Councilwoman Cecilia Scott Three Years 12-31-80
Officials Not Elected
C ity Manager Gerald G. Splinter
City Clerk Allen S. Lindman
City Treasurer Paul W. Holmlund
C ity Attorney Richard Schieffer
Admiriistrative Assistant Mary Harty
Administrative Assistant Brad Hoffman
Department Heads:
Finance Paul W. Holmlund
Public Works, Acting Director James Noska
Police Jame s Lindsay
Fire Ronald Boman
Planning and Inspection Ronald Warren
Parks and Recreation Eugene Hagel
Assessment Peter Koole
Liquor Stores Truman Nelson
Street and Park Superintendent Henry Davis
Public Utilitiea Superintendent Frank Smith, Jr.
Recreation Superintendent Arnold Mavis
Health Officer Duane Orn, M. D.
Fire Marshal Linus Manderfield
Sanitarian Thomas Heenan
Civil Defense Coordinator James Lindsay
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I
ORGANIZATIDN CH11RT
COUNCIL MANAGER PLAN
City of Brooklyn Center, Minnesota
ADVISORY ELECTORATE CHARTE R COMMISSION
v'ew Bd.
Capital Improvement Re i
ADVISORY
Youth Advisory Commission
ADVISORY CITY COUNCIL
Housing Commission
ADVISORY CITY ATTORNEY
�i�
Conservation Commission
ADVISORY City Manager Administrative Assistant
Hurr�an Rights Commi.ssion City Clerk
Purchasing Officer
ADVISORY 1
i���
Parks and Recreation Commission
Administrative Assistants
ADVISORY
Planning Commission
Civil
_Defense
I
I
I� M i 1� I
DZRECTOR 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 Department
Departr.:ent Treasurer Department City
Enqineer
Gove rnmen t
Buildings
M M
Engineering Street Public
Division Division Utilities
City of Brooklyn Center
Location �f City Properties December 31, 1978
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Park SYstem Key
't 1. Willow Lane P�rl�:
1
2. Orchard ane ark
�,_c��--� 3. Kylawn Park P
4. Lakeside Park
I 5. Brooklane Park
--.c� �s�.�
.��._a- 6. Wangstad Park
City General Properties 7. Northport Park
A• Vacant 8. Happy Hollow
B. Water Tower 9, Palmer Lake P�rk
C. West Fire Station Liquor Store #2 10. Garden City Park
D. Library (Land Only-County Library) 11. Proposed Park
E. Liquor Store ##3 (located on leased 12. Li��ns park
prc�perty (Northpori: Shopping 13. Grandview Park
Center) l Ever<�reen Parn
F. G. V:�cant 15. Bell�,�t�e Parl:
H. Well 16. Marlin Par); r
I. Garage 2 wells 1 water tank 17. F.ireh�use p�rl;
J. Liquor Store #�1 18. Riverdale P�rk
K. C��n�niunity Center Central Park 19. Freeway Park
L. Muclicipal Service G�rage 20. Ri.��er Ric7c�e Park (Mis�.River)
hi. East Fire Station (St��t.e ��anec3)
21 Twin Lake I3����c}�i Park
–3–
(Citv St.3te owned)
CITY
OF 6301 SHINGLE CREEK PARKWAY
B ROOKLYN BROOKLYN CENTER, MINNESOTA 55430
TELEPHONE 561-5440
C E N T ER EMERGENCY-POLICE-FIRE
561-5720
June 1., 1979
HONORABLE MAYOR AND CITY COUNCIL
CITY OF BROOKLYDI CENTER
Section 7.12 of the City Charter requires the City Manaqer to submit
an annual audited report to the Council covering the entire financial
operations of the City for the past year.
The annual audited financial report of the City fo.r the year ended
December 31, 1978, prepared by the Department of Finance under my
qeneral supervision, is submitted for your consideration.
Res ect ull s mitted,
1
erald G. plinter
1 City Manager
CITY OF BROOKLYN CENTER
GGS:dkw
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s�� m
May 25, 1979
Mr. Gerald G. Splinter
C ity Manager
Brooklyn Center, Minnesota
Dear Mr. Splinter:
The Annual Financial Report of the City of Brooklyn Center,
Minnesota, for the year ended December 31, 1978 is submitted
herewith.
THE RE PORT
The organization, form and content of this report has been
prepared using standards prescribed by the Municipal Finance
Officers' Association of the United States and Canada, the National
Committee on Governmental Accounting, the American Institute of
Certified Public Ascountants, the State Auditor, State of Minnesota,
and the Brooklyn Center City Charter. The format is consistent with
the prior year and conforms to the audit guide for Audits of State and
Local Governmental Units.
CERTIFICATE OF CONFORMANCE
On Januar 14, 1978, the Municipal Finance Officers' Assoc-
y
iation of the United States and Canada (MFOA) certified that the Annual
Audited Financial Report of the City of Brooklyn Center for the year
1976 conformed to the principles and standards of public financial
reporting as promulgated by the MFOA and the National Committee on
Governmental Accounting. A Certificate of Conformance is awarded
by the MFOA only to the governmental unit whose financial report is
judg�d to conform substantially to the high standards for financial
reporting established by the Assaciation. These standards are con-
tained in publications of the National Committee on Governmental
Accounting. On January 31, 1979, the City was informed by the MFOA
that the Annual Audited Financial Report for the year 1977 had success-
fully passed the Annual Conformance Review. I believe the report here-
with submitted continues to conform substantially to such standards.
ORGANIZATION
Brooklyn Center was incorporated as a Village on February 14,
1911, and became a City of the second class on December 8, 1966,
thirty days from the adoption of the City Charter by a referendum vote
of the people. r
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r
The form of government established by the Charter is the
"Council-Manager Plan". The Council exercises the legislative
power of the City and determines all matters of policy. The Council
is composed of a Mayor and four Councilpersons who are elected at
large. Each Councilperson serves a term of three years and the Mayor
serves a term of two years. The C ity Manager is the head of the
Administrative branch of the City government and is responsible to
I 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 connec-
tion 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-
I ment or removal of department heads are made final upon a majority
vote of the Council.
The City carries faithful performance blanket bond eoverage 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 working capital requirements by
municipal liquor store operations have been used toward financing current
expense and capital outlay programs of the City General Fund.
1 The net revenues of the sewer and water utility has been re-
tained within the Public Utilities Fund and employed for sewer and
water utility purposes.
ACCOUNTING SYSTEM
The accounting for all activities of the City is divided into various
purpose groups or funds as required by statute 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
Comxnittee On Governmental Accounting.
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The accounts of the City are classified in conformance with
classification prescribed by the State Auditor's Office. The account-
ing 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 central-
ized under the Department of Finance. The responsibility for main-
taining and prescribing all financial records, establishing and main-
taining 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 preparing the
estimates of the annual budget and the enforcement of the provisions of
the budget as specified in the budget resolution. Upon adoption of the
annual budget resolution by the Council, it becomes the formal budget
for C ity 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 effect-
iveness of the budgetary controls.
Governmental bud et rocedures are not used in connection
g P
with the liquor stores or public utilities operations, because these
operations are primarily of commercial nature and employ concepts
peculiar to revenue producing entities.
A summary of the budget document as originally adopted (prior
to subsequent amendments) for the calendar year 1978 follows:
r
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Proposed Expenditures (Public Service Enterprise Excluded);
City operations (General Fund) $3, 983, 181
Park Bond Redemption Fund 23, 600
1969 Building and Improvement Bond
Redemption Fund 251, 000
Total Proposed Expenditures $4, 257, ?81
Proposed Source of Financing:
Taxation (See summary of taxation pre-
sented below) $2, 018, 732
Intergovernmental (State and Federal Revenue) 1, 177, 139
Tax penalties 25, 000
Local Revenue
General government services 399, 721
Permits and licenses 130, 000
Court fines 52, 000
Miscellaneous revenue 12, 000
Transfers-in:
Police pension fund 49, 280
Employees retirement fund 15, 000
Firemen's Relief Association 31, 480
Liquor fund 140, 000
Federal revenue sharing fund 198, 076
General Fund Fund balance appropriation 9, 353
1 Total Proposed Financing $4, 257, 781
Ad valorem tax levies for the current year 1978 and for the two previous
years (1977 and 1976) are summarized and presented below:
1978 1977 1976
Mill Mill Mill
Tax Levy Rate Amount Rate Amount Rate Amount
City Operations 13.001 $1, 609,474 11.260 $1, 263, 539 11.260 $1, 263, 539
Debt Redemption
Funds 2. 219 274, 600 2. 272 279, 100 2. 673 299, 900
Public Employees'
Retirement Fund 1. 080 133, 547 1. 026 126, 000 1. 096 123, 000
Policemen's Pen-
sion Fund 009 1, 111 111 13, 583 222 24, 878
Firemen's Relief
Association -0- -0- 004 480 032 3, 580
Total Levy 16. 313 $2, 018, 732 15.323 $1, 881, 960 15.283 $1, 714, 897
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1978 1977 1976
Assessed Valuation
Real Estate $121, 617, 308 $119, 487, 379 $109, 359, 171
Non-exempt personal
property 3, 537, 911 3, 034, 703 2, 800, 885
Fiscal disparities adjust-
ment 1, 190, 083) 201, 206) 133, 422
Total Assessed Valuation $123, 965, 136 $122, 320, 876 $112, 293, 478
The financial condition of each fund as of December 31, 1978 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, 1978, the fund balance of the General Fund
which had not been appropriated to a specific expenditure purpose totaled
$1, 825, 506. This amount represents the working capital that is available
to finance general operations of the City.
Considering the time lag relating to tax collections (approximately
seven months) and based on the anticipated needs of the 1979 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 balance should be dedicated to the working capital need without further
appropriation to expenditure.
Revenues received for general government operations totaled
$4, 098, 394 in 1978, an i.ncrease of $250, 182 over the previous year.
The following table presents an analysis of the major revenue sources
of the General Fund for 1978 and its change from 1977:
Increase
of EDecrease)
Revenue Source 1978 Total 1977 From 1977
Taxes, ad valorem $1, 650, 791 40. 3% $1, 527, 010 $123, 781
Intergovernmental revenue 1, 173, 054 28. 6% 999, 309 173, 745
Charges for services 360, 488 8. 8% 343, 018 17, 470
Licenses and permits 179, 062 4. 4°Jo 131, 107 47, 955
Court fines 68, 281 1. 7% 54, 420 13, 861
Miscellaneous revenue 92, 638 2. 2% 233, 160 140, 522)
Other sources 564, 727 13. 8% 550, 373 14, 354
Appropriations from fund
balance 9, 353 2% 9, 815 462)
Tot al Revenue �4, 098, 394 100. 0% $3, 848, 212 $250, 182
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Expenditures for general governmental operations totaled
$3, 615, 410 in 1978, an increase of $260, 6J8 over the previous year.
The following table presents an analysis of the major expenditure
function of the General Fund for 1978 and its change from 1977:
Increase
Of (Decrease)
Expenditure By Function 1978 Total 1977 From 1977
General Government 868, 776 24. 6% 764, 921 103, 855
Public Safety 1, 151, 480 31. 9% 961, 851 189, 629
Public Works ?33, 615 20.4% 678, 905 54, 710
Community Health Service 66, 423 1. 1% 50, 973 15, 450
Parks and Recreation 795, 116 22. 0% 639, 315 155, 801
Pension Expense 258, 837 258, 837)
Total Expenditures $3, 615, 410 100. 0% $3, 354, 802 260, 608
1978 Pension expense, in the amount of $244, 300, is included in each function
shown. This breakdown was not made in 1977.
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°jo per capita per
year. The following table summarizes the C ity's compliance with the law
for 1978 and 1977:
1978 1977
Total tax levy $2, 018, 732 l, 881, 960
Less special tax levies 449, 581 473, 028
Limited levy $1, 569, 151 $1, 408, 932
Levy limitation 1, 821, 608 1, 649, 898
Under levy 252, 457 240, 966
FISCAL DISPARITIES
The State Legislature enacted a"Fiscal Disparity Law" in 1971
f 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 �even county metro-
politan area. Valuation from this "pool" is redistributed to taxing
jurisdictions according to specified criteria.
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The ixnpact of the disparity law on Brooklyn Center is shown below.
The City has a net five year loss of $2, 261, 078 in assessed valuation since
the inception of the law. The fiscal disparities adjustments for the five
years are shown as follows:
Year Assessed Assessed Value Net Gain
Taxes Value Contri- Received Or
Payable buted to "Pool" From "Pool" (Loss)
1975 2, 355, 241 2, 816, 222 460, 981
1976 3, 746, 879 3, 880, 301 133, 422
1977 3, 726, 462 3, 525, 256 201, 206)
1978 4, 856, 260 3, 666, 177 1, 190, 083)
1979 6, 172, 992 4, 708, 800 1, 464, 192)
Five Year
Total $20, 857, 834 $18, 596, 756 ($2, 261, 078)
FEDERAL REVENUE SHARIlVG
The City was allocated $224, 645 in Federal Revenue Sharing funds
during the calendar year 1978. During the year, the City Council authorized
transfers of $70, 779 to the General Fund from the Federal Revenue Sharing
Fund to finance approved revenue sharing appropriations.
The 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.
DEBT ADMINISTRATION
Outstandin ener 1 b' b e e 31 1978
g g a o ligation onds on Dec mb r
totaled $5, 625, 000 of which $3, 300, 000 was issued to provide permanent
financi.ng 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
outstandin bonds ere 7 000 ee nd
g G O w 65, of G. O. State Aid Str t Bo s
which were issued to finance state aid projects and are repaid from state
allotments. The remaining $1, 560, 000 is direct tax supported debt which
is repaid by the proceeds of ad valorem tax levies. During the past year,
$765, 000 of general obligations bonds were retired.
Outstanding revenue bonds on December 31, 1978 totaled $590, 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 bonds were retired.
i
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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:
1978 1977
Water Department operating revenues $457, 851 $436, 029
Sewer Department operating revenues 604, 649 435, 901
Water Department operating income 133, 125 141, 361
Sewer Department operati.ng income
or (loss) 74, 201) 193, 350)
Combined utilities net income 351, 732 187, 560
Water customers at year end 7, 565
Sewer customers at year end 8, 019
The Water Department operating revenues are to be used to
finance system maintenance and future system expansion and improve-
ments.
A sewer rate study was completed in 1977 and rate increases
became effective on April 3, 1978.
The complete reporting of the Public Utilities' financial opera-
tions and position can be found in the Enterprise Funds Statements
section of this report.
LIQUOR FUND
The City's three municipal off-sale liquor stores earned a com-
bined net profit of $134, 841 for the calendar year ended December 3 l,
1978. The Liquor Fund transferred $140, 000 during the year to the
General Fund to assist in the financing of City operating expenses. A
condensed comparison of the stores' 1978 operations with those of
1977 follows:
1978 1977
Sales $2, 109, 778 l, 943, 225
Cost of sales 1, 709, 303 1, 576, 284
Gross profit on sales 400, 475 366, 941
Operating expenses 272, 335 250, 244
Net operating income 128, 140 116, 697
Interest and other income 6, 701 4, 839
Net Income 134, 841 121, 536
1978 1977
Transfers to the General Fund 140, 000 125, 000
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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 surpluses of individual
City Funds. The Investment Trust Fund, in turn, invested these
temporary surpluses in obligations issued by the United States and
its agencies, bank certificates of deposits, repurchase agreements,
savings and loan associations' savings certificates and City of Brooklyn
Center constructfon notes issued to provide temporary financing for
construction in the special assessment funds.
The average yiel d on investments during the year was 7. 66%
and the Fund distributed $764, 289 in interest earnings to the partici-
pating funds.
The complete reporting of the Investment Trust Fund's finan-
cial operations 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 i.n part from special assessments
levied against benefited property. The Special Assessment Funds are
also used to account for assessments levied against the individual pro-
perty owners which are usually paid in i.nstallments over a period of
years. During 1978, the City assessed $224, 859 of benefits to property
owners.
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 fi.xea assets of the City are those fixed assets
used in the performance of general governmental functions and
exclude the fixed assets of the Public Utilities Fund and the Liquor
Fund. As of December 31, 1978, the general fixed assets of the
City amounted to $15, 920, 416 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 recently
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autanated its fixed asset control system. The system provides
computations of depreciation for all depreciable fixed assets
in such manner that information is readily available for manage-
ment purposes.
The c�lete reporting of the General Fixed Assets
accounting can be found in the General Fixed Asset Statement
section of this report.
INDEPENDIIV'I' AUDIT
Section 7.12 of the City Charter requires that the City
Manager's annual report to the Council concerning the entire
financial operaticns of the City be audited. This requir�r2ent has
been complied with and the auditor's opinion has been included in
this report.
Respectfully suhnitted,
Q�.w-
Paul W. Holmlund
Director of Finance
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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 in-
dustry standards. Such report must satisfy both generally accepted
accounting principles and applicable lega.l requirements.
A Certificate of Conformance is valid for a period of three years
subject to two annual reviews. Our annual financial report for the fiscal
year ended December 31, 1977 successfully passed its required annual
review. We believe our current report continues to conform to Certi-
ficate of Conformance Program requirements, and we are submitting it
to MFOA for another required annual review.
DEPARTMENT OF FINANCE
CITY OF BROOKLYN CENTER
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SUPPLEMENTAL
Certificate
of
Conformance
in Financial
i Re ortin
p g
Presented to
�it of �roo_�. n �enter �in�lesota
Y y
For its Annual Financial Report
for the Fiscal Year Ended
�¢ce�nbQr 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 a�e judged to
substantially conform to the financial reporting principles and
standards pmmulgated by the National Council on Govemmental Accounting.
Pre nt
xecutive Di�tor
Date :fanunry �S,t9t6.
MOEN AND PENTTILA
CERTIFIED PUBUC ACCOUNTANTS
SUITE 203 VALLEY SOUTH BUILDING
MEMBER OF 6950 WAYZATA BOULEVARD (812) 546-3306
AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS MINNEAPOLIS. MINNESOTA 55426
June 21, 1979
Honorable City Council
City of Brooklyn Center, Minnesota
t We have examined the financial statements of the various funds
and account groups of the City of Brooklyn Center for the year ended
December 31, 1978 listed in the foregoing table of contents. Our exam-
ination was made in accordance with generally accepted auditing standards,
and accordingly included such tests of the accounting records and such
other auditing procedures as we considered necessary in the circum-
stances.
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, 1978, 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,
%�c*�it
MOEN PENTTILA, LTD.
Field work completed May 25, 1979.
Report signed June 21, 1979.
-16-
City of Brooklyn Center Exhibit 1
COMPARATIVE COMBINED BALANU� SHEET
A11 Fund Types and Account Groups
Fiduciary Account Groups
Governmental Fund Types Proprietary Fund Types General General Total (6lemorandum Only)
Special llebt Capital Special Fund Types Trust and Fixed Long-Term December 31,
ASSETS General Revenue Service Projects Assessments Enterprise Agency Assets Debt 1978 1977
Assets and Aesources
Cash on hand and in depositories 16,793 3,700 230,718 251,211 86,882
Temporary investments 1,566,395 720,356 308,550 2,490,376 2,129,460 522,295 213,362 7,950,794 10,159,729
Taxes receivable 125,864 26,265 18,048 170,177 269,971
Accounts receivable 45,166 27 123,873 197,014 99,192
Allowance for estimated uncollectibles 1,754) 6,347) 8,101)
Special assessments receivable 3,448,087 7,187 3,455,274 3,835,620
Accrued revenue 114,540 254,336 368,876 287,823
Due from other funds 265,448 7,584 127,546 15,259 27,398 443;185 145,725
Due from other governmental units 66,835 55,215 655,127 10,973 8,579 2,839 799,568 740,473
Inventories and s�pplies 30,349 227,673 258,022 230,812
Prepaid expenses and deferred
charges 20,419 95,834 66,253 72,180
Securities held for investment 11,246,364 11,246,364 10,887,666
Property, plant and equipment 12,732,351 $15,920,417 28,652,768 27,953,728
Accumulated depreciation 2,536,600) 2,536,600) 2,348,393)
U nassessed construction 599,450 599,450 300,763
Amount available in Debt Service
Funds 334,815 334,815 310,429
Amount to be provided for general
long-term debt and interest 3,093,432 3,093,432 3,529,748
Restricted investments and
other assets 4,053,840 4,053,840
Total Assets 2,115,096 775,571 334,815 3,153,087 6,363,910 $15,312,184 $11,993,015 $15,920,417 3,425,247 $59,396,342 $56,562,398
i LIABILITIES AND FUND EQUITY
Liabilities
Accounts payable 81,851 18,150 28,381 97,147 21,085 246,614 170,057
Contracts payable 2,863 121,617 3,346 127,826 28,108
Due to other funds 65,162 114,728 94,387 116,775 49,419 2,714 443,185 145,725
Accrued expenses 96,270 1,549 67,069 44,848 209,736 1,036,160
Assessments payable on city properties 164,882 164,882 196,582
Temprorary construction loans and
advances 15,877 611,000 626,877 316,000
Special assessment bonds payable 3,300,000 3,300,000 3,845,000
Revenue bonds payable 590,000 590,000 625,000
General obligation bonds payable 2,325,000 2,325,000 2,545,000
Due funds participating in Investment
Trust Fund 11,527,091 11,527,091 10,158,315
C ustomer and contractor deposits 725 31,100 31,825 31,163
Deferred credits 339,988 339,488
Interest payable in future years 938,365 938,355 1,098,595
Total Liabilities 243,283 132,878 114,676 4,244,842 1,124,973 $11,581,990 3,428,247 $20,870,889 $20,195,705
Fund Equity
Investment in general fixed assets $15,920,417 $15,920,417 $15,462,089
Contributed capital $10,012,791 $10,012,791 9,843,972
Retained earnings:
Aeserved for debt retirement 134,424 134,424 136,472
Reserved for construction 70,298 70,298 65,300
Reserved for working capital 20,000 20,000 20,000
Unreserved designated for
plant expansion 3,463,865 3,463,865 3,312,880
U ndesignated 455,833 485,833 284,851
Fund balance:
Appropriated 46,307 446,272 334,815 203,936 2,119,068 3,150,398 2,291,252
U nappropriated 1,825,506 196,421 2,834,475 911,025 5,267,427 4,949,827
Total Fund Equity 1,871,813 642,693 334,815 3,038.41t z,119,068 $14,187,211 911,025 $15,920,417 $38,525,453 �36,366,643
Total Liabilities and Fund Equity 2,115,096 775,571 334,815 3,153,087 6,363,910 $15,312,184 $11,993,015 $15,920,417 3,428,247 $59,396,342 �56.562,348
(See notes to financial statements)
This statement is an integrai part of report dated May 25, 1979.
City of Brooklyn Center Exhibit 2
COMPARATIVE COMBINED STATEMENT OF REVENUE, EXPENDITURES AND
CHANGES IN FUND BALANCES
All Governmental P'und Types
Total (PAemorandum Only)
Special Debt Capital Special Year Ended December 31,
General Revenue Service Projects Assessments 1978 1977
Sources of Financial Resources
Revenue:
Taxes $1,650,791 279,600 $1,925,391 $1,807,197
Licenses and permits 179,062 179,062 131,107
Intergovernmental revenue 1,173,054 223,699 26,850 440,174 1,863,777 1,744,979
Charges for services 360,988 360,488 322,296
Fines and forfeits 68,281 68,281 54,420
Interest 47,241 24,283 170,580 370,414 612,518 275,962
Miscellaneous 92,638 208,987 467 302,092 686,402
Total Revenue $3,524,314 270,940 325,733 819,741 370,881 $5,311,609 $5,022,313
Other Sources:
Transfer from fund balance 9,353 129,341 138,694 125,544
Transfers from other funds:
Liquor Fund 140,000 140,000
Federal Revenue Sharing Fund 195,427 195,427
Pension Funds 229,300 229,300
Other Funds 79,526 79,526 81,595
Total Sources of Financial Aesources $4,098,394 270,940 405,259 819,741 500,222 $6,094,556 $5,229,452
Uses of Financial Resources
t Expenditures:
Current
General government 868,776 868,776 764,921
Public safety 1,151,480 1,151,480 961,851
Streets and highways 733,615 733,615 678,905
Community health services 66, 423 66, 423 50, 973
Parks and recreation 795,116 795,116 639,315
Other uses 15,911 15,911 678
Capital outlay 132,999 132,999 28,415
Debt service:
Principal retirement 220,000 220,000 215,000
Interest and fiscai charges 160,373 870 205,520 367,263 418,523
Total Expenditures $3,615,410 -0- 380,873 149,780 205,520 $4,351,583 $3,758,581
Other Uses:
Transfers to other funds 195,427 81,656 277,083 248,198
Transfer from fund balance 9,353 9,353 9,815
Total Uses of Financiai Resourees $3,624,763 195,427 380,873 231,436 205,520 $4,638,019 $4,016,599
Excess (Deficit) of Resources Over Uses 473,631 75,513 24,386 588,3D5 294,702 $1,456,537 $1,212,858
Fund B alance January 1 $1,351,874 567,180 310,429 $2,450,106 $1,824,366 $6,503,955 $5,291,097
Fund Balance December 31 (Exhibit 1) $1,825,505 642,693 334,815 $3,038,411 $2,119,068 $7 $6,503,955
((See notes to financial statements)
This statement is an integrai part of report dated Pday 25, 1979. i
City of Brnoklyn Center Exhibit 3
COMPARATIAVE COMBINED STATEMENT OF REVENUE,EXPENSES AND CHANGESIN
RETAINED EARNINGS OR FUND BALANCES
Enterprise Funds and Non-Spendable Trust Funds
Enterprise Funds Fiduciary Total (Memorandum Only)
Liquor Yublic Utility Fund Type Year Ended December 31,
Fund Fund Total Trust and A�ency 1978 1977
Revenue:
Charges for services 997,669 997,669 997,669 846,294
Gross margin on product sales 400,475 400,475 400,475 366,941
Interest earned 2,504 309,019 311,523 500,369 1,111,892 991,515
Other revenue 4,761 73,175 77,936 1,177,431 1,255,367 93,776
Taxes 175,940 175,940 185,273
Intergovernmental revenue 101,323 101,323 85,R50
Total Revenue 407,740 $1,379,863 $1,787,603 $2,255,063 $9,042,666 $2,569,649
Expenses:
Personal services 149,460 141,328 290,788 290,788 262,304
Contractual services 49,711 613,403 663,114 663,114 636,723
Supplies and materials 6,708 19,645 26,353 26,353 27,125
Insurance 21,992 10,852 32,844 32,844 14,986
Rent and administration 34,559 31,926 66,480 66,480 61,056
Interest 29,447 24,447 24,447 25,848
Depreciation 10,479 178,186 188,660 188,660 180,205
Earnings distributed to participating funds 765,576 765,576 637,555
Pension payments 1,074,806 1,074,806 258,837
Other expenditures 45,367 45,367 49,672
Total Expenses 272,899 $1,019,757 $1,292,686 $1,885,749 $3,178,435 $2,149,611
Transfers to other funds 140,000 140,000 140,000 218,280
Total Expenses and Transfers 412,899 $1,019,757 $1,432,686 $1,885,749 $3,318,435 $2,367,891
Excess of Revenue Over Expenses and Transfers 5,159) 360,076 359,917 369,314 724,231 201,758
B alance of Retained Earnings or Fund Balance January 1 161,064 3,658,439 3,819,503 41,711 3,861,214 3,659,456
Ralance of Retained Earnin�s or Fund Balance December 31 (Exhibit 1) 155,905 $4,018,515 $9,174,420 411,025 $4,585,445 $3,861,214
I
(See notes to financial statements)
This statement is an integral part of report dated May 25, 1979.
J
City of Brooklyn Center
NOTES TO FINANCrAL STATEMENTS
Year 1978
Note 1: Summary of Significant Accounting Policies
A. Funds The basic accounting and reporting entity
II 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 o±her resources
together with all related liabilities, obli-
1 gations, reserves and equities which are
segregated for the purpose of carrying on
specific activities or attaining a certain
objective in accord with special regulations,
restrictions or limitations.
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 expenditu.res,
other than accrued interest on general long-
terrn debt, are recorded �.t 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 Accounting
General Fund Modified .Accrual
Special Revenue Funds
Park Concessions Fund Accrual
Federal Revenue Sharing Accrual
Anti-recession Fiscal Assistance Accrual
-20-
City of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
Year 1978
i
Note
C ontinued
Fund Basis of Accounting
Lawcon Fund Accrual
Capital Projects Funds
Open Space Acquisition
and Development Accrual
Capital Projects Accrual
Municipal State Aid Accrual
Debt Service Funds Accrual
Municipal Liquor Fund Accrual
Public Utilities Fund Accrual
Trust and Agency Fun.ds
Brooklyn Center Fire Relief Accrual
Brooklyn Center Public
Employees' Retirexnent
Associ.ation Accrual
Brooklyn Center Housing and
Red�velopment Accrual
Brooklyn Center Police Pension Accrual
Investment Trust Fund Accrual
Special Assessment Funds Accrual
General Fixed Assets Group Accrual
Statement of General Long-Term
Debt and Interest Accrual
C. Fixed .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 straight-line
method over the estimated useful lives of
the assets. Public Utility assets financed
by special assessments are recorded as
contributions in aid of construction.
-21-
1
City of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
Year 1978
Note 1:
C ont inued
C. Fixed 9ssets a.nd Depreciation Policies continued
General Fixed Assets: The general fixed
assets of the City, those assets not acco�anted
for in o±her fund groups, are accounted for
in a separate self-balancing group of accounts
described �s the General Fixed Asset Group
of Accounts. General Fixed Asset purchases
are recorded as expenditures in the fund that
finances the purchase. No depreciation is
recorded on the assets included in the General
Fixed .Asset Group of Accounts.
D. General Long-Term Debt
The general long-term liabilities, excep+, for
the Special Assessment Funds �.nd the Public
Utilities Fund are not carried as a liability of
1 a particular fund, but are set up in a separate
self-balancing group of accounts known as the
General Long-Term Debt Group of Accounts.
E Investments
Investments are carried at cost which approx-
imates market. Interest income is record+°d
as earned and is allocated annually to the re-
spective funds on the basis of the particip�.ting
funds' investment in the Investment Trust Fund.
F. Budgets
Financial control of spending for various govern-
mental activities is exercised through the use of
budgetary procedures. Exclusive authority over
j� all budget matters remains with the Council. The
Council approves all budgets and any amendments
to *ho�e budgets also requires specific approval
i by the Council. Sudgetary reporting is included
in this report, in the following funds: General
Fund, Open Space Acquisition and Development
Fund, Capital Projects Funds, Municipal State
Aid for Construction Fund, and the Special
Assessment Funds.
-2 2-
i'
City of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
Year 1978
No±e 1: i
C onti.nued
G. Severance and Vacation Pay Policies
The City pays employees severance pay upon
termination of employment based on accum-
ulated sick leave and accrued vacation. Sever-
ance, vacation and sick leave pay are recorded
as an expenditure .when paid. At December 31,
1978, the City had a liability of $93, 704 for
accrued �vacation pay and a liability of $104, 662
for accumulated sick leave.
Note 2: All Funds
The "Combined Balance Sheet All Funds and .Account
Groups (Condpnsed Form)" as shoavn on Exhibit 1 is pre-
sented as an informatio� statement only. The reader is cau-
tioned that the figures as shown under the "Combined Total"
colu.mn arz a combining of unlike purpoae groups (funds) and
cannot be construed as indicative o.f the overall financial posi-
tion of the City. The financial position and results o.f opera-
tions of each fund should be ascertained by reference to indivi-
dual exhibits as submitted for that iund within this repor�.
Note 3: Municipal Liquor Fu:zd
Other Accounts Receivable, in the amount of $4, 668
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 amo rtized 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.
_23_
City of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
Year 1978
I 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 resolu-
tion authorizing and directing the issuance of these bonds con-
tain covenants and restrictions enacted for the purpose of pro-
tecting the bondholders' interest. Paragraph 8 of the resolution
provides for the segregation of assets and the appropriation of
retained earnings for debt retirement purposes and defines
the manner of accounting for the activities of the Public Utilities
1 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 $1, 000, 000
Add: Investment earnings thrrz 1977 340, 236
1978 investment earnings 4, 998
Total Investment Earnings (Exhibit 16)$ 345, 234
Deduct: Construction expenditures thru
1977 $1, 274, 936
1978 construction expenditures -0-
Total Construction Expenditures $1, 274, 936
Construction !�ccount Balance (Exhibit 16) 70, 298
Debt Retirement Account
Accumulated amounts set aside to meet
1978 requirements for interest and
principal:
Investments with accrued interest 59, 424
Reser�ve account investments 75, 0?J�
To±al Debt Retirement Account (Exhibit 16) 134, 424
1
-24-
City of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
Year 1978
Note 4:
C ont inue d
A summary which reconciles re�tricted assets with
earnings and �,lso .^ompaf es 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 Accou-�t
Restricted Assets 12/31/78 $70, 298 59, 424 75, 000
Appropriated Earnings at
12/31/78 70, 298 59, 424 75, 000
All bonds which mature on Jar�uary 1, 1982 or there-
after are subject to redemption (call) on January 1, 1974,
or any interest payment date thereafte.r 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 1 Z%.
2. If redeemed January 1, 1981, or thereafter, no
premium.
Since 1963, the Public Utilities Fund has been accumu-
lating 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 expansio� of the facilities has a
coat estimate of $6, 184, 000. The plan includes capital out-
lays fo.r the construction of water mains, a 1. 5MG water tower
and a 10MG water treatment plant. To date, $3, 463, 865 has
been accumulated and set aside for the purpose of partially
meeti,ng the financing requirement for the planned expansion.
-25-
i
City of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
Year 1978
Note 5: Public Utilities Fund Metro Waste Control Commission
Receivable and Reserves
Pursuant to enacted legislation (Metropolitan Sewer Act-
I Chapter 449 Session Laws) the Metropolitan Waste Control
Comznissio�, as c�f January 1, 1971, assumed ownership of
all existing interceptors and treatment works needed to imple-
ment a comprehensive plan for the collection, treatment, and
disposal of sewage in the seven county metropolitan area.
t Under �he terms of the Act, the Commission is o�aligated
to reimburse each local government for the cost of facilities
acquired. This coat or purchase price of facilities is based
on dep.reciated replacement coat 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 Cor�imission over a period of 30 years and the
amount j,vill earn interest at an annual rate of 4%. The method
of payment will be by right o.f offset. The City will apply each
I, annual installment against sewer service charges as billed by
the Metropolitan Waste Control Commission annually.
The installment credit for 297g consisted o.f principal
and interest and the amount of credit affset against 1978
sewer service billings totaled 8, 741, leaving a balance due
oJer the next 2 2 years of $210, 719, (Exhibit 16), as adjusted
by the M. W. C. C.
Note 6: Summary Statement of General Long-Term Debt and Interest
Special assessments which relate to improvements bene-
fiting City-owned properties total $164, 882 as of December 31,
1978. The payment 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 becomes due.
The State Aid Street Bonds amounting to 765, 000 at
December 31, 1978 are payable from the Minnesota State
Aid Allotments.
-26-
C ity of Brooklyn Center
NOTES TO FIlVANCIAL STATEMENTS
Year 1978
No±e 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 employees of governmental units within the
State of Minnesota. The City contributes, on behalf of its
employees, 5. 5°�o to 12.OaJo of its employees' salaries to
this plan. During 1978, this contribution amount to 1, 031, 020
(Exhibit 20 Police pensions, formerly in a separate fund,
are now included in P. E. R. A.
2) The City contributes to the Brooklyn Center Firemen's
Relief Association, an independently adm.inistered retirement
plan for the City's volunteer firemen. The benefits of this
plan are established by the Minnesota Legislature and the
financing of the plan is provided for by a state tax on fire
insurance premiums and the City's ad valorem tax. Actuarial
studies of retirement needs are made periodically to deter-
mine the contributio�s to the Association. According to a study
dated December 31, 1976, the Association had an actuarial
surplus of $97, 635. In order to maintain the current level of
benefits, annual payments of $18, 104 are required.
Note 8: Investment Trust Fund
The Investment Trust Fund was established in 1956
by C'ouncil action to provide a uniform and consistent method
of investing tempor,�.ry 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.
-27-
City of Bruoklyn Center
NOTES TO FINANCIAL STATEMENTS
Year 1978
Note 8: Investment Trust Fund (Continued)
Rate of Net
Year Return Income
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 Earnings 1956-1978 $5, 174, 573
Note 9: The Brooklyn Center Housin and Redevelopment
g
Authority is a separate entity from the City. The City receives
an ad valorem tax which is remitted to the Authority.
Note 10: Contingent Liabilities
The City has a contingent liability relating to a pledge of
full faith and credit on the special assessment bonds as recorded
in the Special Assessment Funds. The general credit of the
City is obligated only to the extent that liens foreclosed against
properties involved in the special assessment districts are
insufficient to retire outstanding bonds.
I
1
1
-28-
THE GENERAL FUND
The General Fund acrounts for all revenues and expenditures of a«e��rrn-
mental unit whirh are not accounted for in other funds, ancl it is u,ually
the l�rgest ancl most important accounting acitivity for state and local
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
earnings. The fund's resources also �nance a wider range of activities than
any other fund. Most of the current operations of governmental units will
be financed from this fund.
City of Brooklyn Center Exhibit 4
General Fund
COMPARATIVE BALANCE SHEET
December 31,
ASSETS 1978 1977
Cash on hand and in depositories 16, 793 12, 045
Temporary investments 1, 566, 395 1, ].57, 614
Accounts receivable $45, 166
Less: Estimated uncollectible
accounts 1, 754)
Net accounts receivable 43, 412 15, 194
Taxes receivable 125, 864 199, 669
Due from other funds 265, 448 55, 966
Due from other governments 66, 835 53, 541
Inventory of supplies 30, 349 31, 750
Total $2, 115, 096 $1, 525, 779
LIABILITIES, RESER AND FUND BALANCE
Liabilities
Accounts payable 81, 851 62, 648
Accrued salaries payable 96, 270 80, 896
Due to other funds 65, 162 832
Total Liabilities 243, 283 144, 376
Reserv�s
Reserve for encumbrances 46, 307 29, 529
Total Reserves 46, 307 29, 529
Fund Balances
Available for appropriation $1, 825, 506 $1, 351, 874
Total Fund Balance (Exhibit 5) $1, 825, 506 $1, 351, 874
Total $2, 115, 096 $1, 525, 779
(See notes to financial statements)
This statement is an integral part of report dated May 25, 1979.
-29-
City of Brooklyn Center Exhibit 5
General Fund
COMPARATIVE STATEMENT OF CHANGES IN FUND BALANCE
For the Years Ended December 31, 1978 and 1977
1978 1977
Revenue and other sources (Exhibit 6) $4, 098, 394 $3, 589, 375
Expenditures and other uses (Exhibit 6) 3, 615, 410) 3, 095, 965)
Appropriated from fund balance for budget 9, 353) 9, 815)
Net Increase (Decrease) in Fund Balance 473, 631 483, 595
Fund balance January 1 1, 351, 874 868, 279
Fund Balance December 31 (Exhibit 4) $1, 825, 505 $1, 351, 874
ee notes to financial statements
(S
This statement is an integral part of report dated May 25, 1979.
-30-
i City of Brooklyn Center Exhibit 6
General Fund
COMPARATIVE STATEMENT OF REVENUE, APPROPRIATIONS FROM
FUND BALANCE, EXPENDITURES, ENCUM33RANCES AND
TRANSFERS
f 1978
Actual (Restated)
Amended Over(Under) Year 1977
I3ud�et Actual Budget Actual
Revenue (Schedule 1)
Ad Valorem taxes 3, 634, 474 Z, 650, 791 16, 317 $1, 528, 244
Licenses and permits 130, 000 179, 062 49, 062 131, 107
Inter-governmental revenue 1, 177, 139 1, 173, 054 4, 085) 1, 169, 467
Charges for services 399, 721 360, 488 39, 233) 322, 246
Court fines 52, 000 68, 281 16, 281 54, 420
Miscellaneous revenue 12, 000 92, 638 80, 638 82, 540
Other sources 577, 847 574, 080 3, 767) 301, 351
Total Revenue and
Other Sources $3, 983, 181 $4, 098, 394 115, 213 $3, 589, 375
(Sc e u e
Expenditures and Encumbrances
(Schedule 2
General government 979, 801 868, 776 111, 025) 764, 921
Public Safsty 1, 198, 855 1, 151, 480 47, 375) 961, 851
Streets and highways 881, 725 733, 615 148, 110) 678, 905
Community health services 77, 078 66, 423 10, 655) 50, 973
Parks and recreation 837, 773 795, 116 42, 657) 639, 315
Other uses 7, 949 7, 949)
Total Expenditures
and Encumbrances $3, 983, 181 $3, 615, 410 367, ?71) $3, 095, 965
Schedule 2)
Revenue, Transfers-in and
appropriations from fund
balance in excess of
expenditures, encumbrances
and transfers-out -0- 482, 984 482, 984 493, 410
(See notes to financial statements)
This statement is an integral part of report dated May 25, 1979.
-31-
City of Brooklyn Center Schedule 1
General Fund
STATEMENT OF REVENUE BUDGET AND ACTUAL
OBJECTNE CLASSIFICATION
For the Year Ended December 31, 1978
A ctual
Final Over(Under)
Budget Actual Budget
Ad Valorem Taxes
Real estate taxes $1, 609, 474 $1, 609, 145 329)
Penalties and interest 25, 000 41, 646 16, 646
Total Ad Valorem Taxes $1, 634, 474 $1, 650, 791 16, 317
Licenses and Permits
Liquor and beer 53, 100 64, 737 11, 637
Building permits 25, 000 44, 131 19, 131
Rental dwelling licenses 9, 000 9, 727 727
Dog permits 7, 000 4, 013 2, 987)
Electrical permits 9, 000 10, 521 1, 521
Heating permits 7, 500 11, 861 4, 361
Plumbing permits 5, 000 7, 234 2, 234
Food licenses 3, 600 10, 124 6, 524
Sewer and water perxnits 2, 500 2, 790 290
Vehicle dealers licenses 1, 100 1, 110 10
Heating licenses 1, 100 2, 242 1, 142
Cigarette licenses 1, 100 847 253)
Sign permits 600 1, 097 497
Swimm.ing pool licenses 1, 400 2, 584 1, 184
Miscellaneous business licenses 600 1, 037 437
Garbage licenses 700 1, 615 915
Service station licenses 800 1, 775 975
Taxi cab licenses 600 500 100)
Bowling alley licenses 200 790 590
All other licenses and permits 100 327 22?
Total Licenses and Permits 130, 000 179, 062 49, 062
Court Fines
Costs and fees 52, 000 68, 281 16, 281
Inter-Governmental Revenue
Federal grants:
C.E. T.A. 122, 501 120, 762 739)
Civil defense 10, 198 8, 403 795)
Total Federal Grants 132, 699 129, 165 3, 534)
State grants:
State shared taxes;
Local government aid $1, 022, 104 $1, 014, 549 7, 555)
Fixed machinery tax replacement 1, 230 1, 365 135
Other grants 21, 106 27, 975 6, 869
Total State Grants $1, 044, 440 $1, 043, 889 551)
Total Inter-Governmental
Revenue $1, 177, 139 $1, 173, 054 4, 085)
-32-
City of Brooklyn Center Schedule 1
General Fund on ci
STATEMENT OF REVENUE BUDGET AND ACTUAL
OBJECTIVE CLASSIFICATION I
For the Year Ended December 31, 1978
i
Actual
L Fi.nal Over(Unde r)
Budget Actual Budget
Charges for Services
Inter-fund charges:
Administration:
Public Utilities 23, 196 25, 055 1, 859
Shade trees 3, 700 2, 320 1, 380)
Engineering and clerical:
Special assessments and public
utilities 35, 000 41, 303 6, 303
General government charges 6, 300 13, 084 6, 784
Public safety charges 5, 000 5, 736 736
Recreation fees 324, 525 272, 750 51, 775)
Other services 2, 000 240 1, 760)
Total Charges for Services 399, 721 360, 488 39, 233)
Miscellaneous Revenue
Rent 10, 000 20, 962 10, 962
Interest earned on investments 61, 777 61, 777
Miscellaneous 2, 000 9, 899 7, 899
Total Miscellaneous Revenue 12, 000 92, 638 80, 638
Other Sources
Transfer from fund balance 9, 353 9, 353
Transfers from other funds:
Liquor fund 140, 000 140, 000
Federal Revenue Sharing Fund 198, 076 195, 427 2, 649)
Police Pension Fund 50, 391 7, 690 42, 701)
Employees Retirement Fund 148, 547 190, 130 41, 583
Fire Relief Association Fund 31, 480 31, 480
Total Other Sources �77, 847 574, 080 3, 767)
Total Revenue and Other Sources $3, 983, 181 $4, 098, 394 115, 213
f (Exhibit 6)
(See notes to financial statements)
This statement is an integral part of report dated May 25, 1979.
-33-
�I
Cit,y of Brooklyn Center Schedule 2
General Fund
COMPARATIVE STATEMENT OF EXPENDITURES AND ENCUMBRANCES BUDGET A1VD
ACTUAL CLASSIFIED AS TO ACTIVITY, CHARACTER AND OB3ECT
For the Year Ended December 31, 1978
1978
1978 1977 Expenditures and Encumbrances Classified by Character and Object
Amended Expenditures and Over (Under) Expenditures and Personal Contracted Capital
Budget Encumbrances Budget Encumbrances Service Service Commodities Other Outlays
General Government
Mayor and council 61, 331 53, 042 8, 289) 44, 575 17, 542 24, 418 11, 082
Elections and voter registration 14, 193 13,910 283) 5,638 4,272 5,542 596 3,500
Administrative office 386, 571 343, 731 42, 840) 279, 349 201, 154 116, 349 17, 729 8, 001 498
Assessor's office 83, 201 80, 1S5 3, 016) 53, 024 73, 559 4, 67� 995 148 S13
Accounting and internal audit 104, 817 104, 063 754) 86, 278 81, 659 21, 966 85 353 I
Independent audit 15, 000 13, 134 l, 866) 15, 346 13, 134
Legal 50,000 49,302 69S) 46,335 48,405 897
Charter commission 1, 500 153 I, 347) 126 141 12
General governm�nt building 263, 188 211, 256 51, 932) 234, 250 114, 814 60, 444 14, 651 21, 347
Total General Government 979, 801 868, 776 111, 025) 764, 921 493, 000 295, 069 34, 880 19, 316 26, 511
Yublic Safety and Welfare
Police protection 942, 539 905, 716 36, 823) 754, 263 843, 415 14, 93II 15, 244 17, 259 14, 860
Fire protection 104, 730 101, 792 2, 938) 83, 791 74, 917 2, 007 7, S16 4, 683 12, 363
Protective inspection 106, 204 101, 313 4, 891) 87, 906 93, 442 6, 655 854 229 133
Civil Defense 33, 032 30, 793 2, 239) 26, 070 17, 843 2, 764 59 213 9, 914
Animal control 11, 600 11, 118 482) 9, 324 11, 118
Weed eradication ?50 748 2) 497 748
Total Public Safety and Welfare $1, 198, 855 $1, 151, 480 47, 375) 961, 851 $1, 029, 617 38, 230 23, 973 22, 390 37, 270
i
w
Public Works
Engineering department 206, 402 178, 208 28, 194) 141, 816 169, 328 640 3, 102 223 4, 915
Street Department 372, 971 287, 965 85, 006) 286, 919 191, 822 924 74, 846 26 20, 347
Maintenance shop 206, 412 188, 241 18, 171) 163, 210 72, 433 26, 671 87, 221 1, 916
Street and traffic lighting 95, 940 79, 201 16, 739) 86, 960 79, 125 76
Total Public Works 881, 725 733, 615 148, 110) 675, 905 433, 583 107, 360 165, 245 249 27, 178
Community Health Services
Health regulation 26, 750 26, 230 520) 21, 716 26, 230
Nursing service 15, 828 11, 939 3, 889) 9, 878 11, 939
Detached worker program 34, 500 28, 254 6, 246) 19, 379 28, 254
Total Community Health Services 77, 078 66, 423 10, 655) 50, 973 66, 423
Parks and Recreation
Supervision and recreation 130, 206 124, 866 5, 340) 104, 455 106, 249 13, 712 3, 461 395 1, 049
Adult programs 71, 225 65, 538 5, 687) 63, 786 1, 434 48, 700 15, 404
Teen programs 12, 250 9, 946 2, 304) 9, 135 4, 289 4, 191 1, 466
Children's programs 42, 995 34, 239 8, 756) 30, 594 16, 710 12, 845 4, 684
General programs 37, 405 37, 240 165) 25, 585 22, 906 14, 005 329
Community Center 250, 742 252, 625 1, 883 130, 283 85, 721 47, 813 32, 500 25, 702 60, 889
Park maintenance and improvements 292, 950 270, 662 22, 288) 275, 477 189, 985 18, 447 24, 836 3, 885 33, 509
Total Parks and Recreation 837, 773 795, 116 42, 657) 639, 315 427, 294 159, 713 82, 680 29, 982 95, 447
Other
Contingency appropriation 7, 949 7, 949)
Total Expenditures and Encumbrances $3, 983, 181 $3, 615, 410 367, 771) $3, 095, 965 $2, 383, 494 666, 795 306, 778 71, 937 186, 406
(Exhibit 6)
(See notes to financial statements)
This statement is an integral part of report dated May 25, 1979.
i r r
SPECIAL REVENUE FUNDS
SPECIAL REVENUE FUNDS
Special Revenue Funds are used to account for revenues derived from
specific taxes or other earmarked revenue sources. They are usually re-
quired by statute, charter provision, or local ordinance to finance parti-
cular functions or activities of government.
..b..
City of Brooklyn Center Exhibit 7
Special Revenue Funds
COMPARATIVE COMBINED BALANCE SHEET
Anti-
Federal Recession Combined Statement
Revenue Sharing Fiscal Aid December 31,
ASSETS Fund Fund 1978 1977
Temporary investments $718, 811 1, 545 $720, 356 $519, 249
Due from other governmental units 55, 215 55, 215 56, 16
Totals $774, 026 1, 545 $775, 571 $575, 410
LIABILITIES AND FUND BALANCE
Li:� :.•itities
w
Vouc;�nrs payable 18, 150 18, 150
Due to othe� funds 114, ?28 114, 728 8, 230
Total Liabili���s $132, 878 $132, 878 8, 230
Fund Balance
Appropriated $446, 272 $446, 272 $184, 540
Unappropriated 194, 876 1, 545 196, 421 382, 640
Total Fund Balance $641, 148 1, 545 $642, 693 $567, 180
Totals (Exhibit 8) $774, 026 1, 545 $775, 571 $575, 410
(See notes to financial statements)
This statement is an integral part of report dated May 25, 1979.
City of Brooklyn Center Exhibit 8
Special Revenue Funds
COMPARATLVE STATEMENT OF REVEI�TUE, EXPENDITURES AND
CHANGES IN FUND BALANCES
Anti-
Federal Recession Combined Statement
Revenue Sharing Fiscal Aid December 31,
Fund Fund 1978 1977
Revenue
Federal revenue sharing grants $223, 699 $223, 699 $215, 067
Interest on investments 47, 131 110 47, 241 35, 756
Concession receipts 1, 423
Total Revenue $270, 830 110 $270, 940 $252, 246
Expenditures
Transfers to General Fund $195, 427 $195, 427 $166, 536
Purchases for resale 277
Total Expenditures $195, 427 $195, 427 $166, 813
rn
Excess (Deficit) of Revenue Over Expenditures 75, 403 110 75, 513 85, 433
Fund Balance January 1
Appropriated 184, 540 184, 540 186, 833
Unappropriated 381, 205 1, 435 382, 640 294, 914
Fund Balance December 31 (Exhibit 7) $641, 148 1, 545 $642, 693 $567, 180
Appropropriated Portion $446, 272 $446, 272 $184, 540
Unappropriated Portion $194, 876 1, 545 $196, 421 $382, 640
(See notes to financial statements)
This statement is an integral part of report dated May 25, 1979.
DEBT SERVICE FUNDS
DEBT SERVICE FUNDS
Debt Service Funds are created to account for the payment of interest
and principal on long-term, general obligatian debt other than that payable
from special assessments and debt issued for and serviced primarily by a
governmental enterprise.
i
City of Brooklyn Center Exhibit 9
Debt Service F'unds
COMPARATIVE C(JMBINED BALANCE SHEET
State Aid Improvement Combined Statement
Park Library Street Building December 31,
ASSETS Bonds Bonds Bonds Bonds 1978 1977
Temporary investments 91, 261 90, 583 $126, 706 $308, 550 $267, 945
Due from other funds 603
Taxes receivable 2, 285 23, 980 26, 265 41, 881
Totals 93, 546 90, 583 -0- $150, 686 $334, 815 $310, 429
LIABILITIE S AND FUND BALANCE
c,o
Fund Balance (Exhibit 10} 93, 546 90, 583 -0- $150, 686 $334, 815 $310, 429
Totals 93, 546 90, 583 -0- $150, 686 $334, 815 $310, 429
I
(See notes to financial statements)
This statement is an integral part of report dated May 25, 1979.
City of Brooklyn Center Exhibit 10
Debt Service Funds
COMPARATIVE COMBINED STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCES I
State A id Improvement For the Years Ended
Park Library Street Building December 31,
Bonds Bonds Bonds Bonds 1978 1977
Revenue
General property taxes 23, 600 $251, 000 $274, 600 $278, 953
Interest on investxnents 6, 727 7, 294 10, 262 24, 283 17, 673
Inter-governmental revenue;
State aid allotments 26, �50 26, 850 26, 850
Total Revenue 30, 327 7, 294 26, 850 $261, 262 $325, 733 $323, 476
Other Sources
Transfer from Municipal State
Aid Capital Projects Fund 79, 526 79, 526 81, 595
Total Other Sources -0- -0- 79, 526 -0- 79, 526 81, 595
w
Total Revenue and Other
Sourres 30, 327 294 $106, 376 $261, 262 $405, 259 $405, 071
Expenditures
Principal payments 20, 000 10, 000 55, 000 $135, 000 $220, 000 $215, 000
Interest payments 2, 305 2, 660 51, 215 104, 000 160, 180 173, 130
Fiscal agent fees 119 24 161 301 605 664
Other expenditures 11 77 88 310
Total Expenditures 22, 435 12, 684 $106, 376 $239, 378 $380, 873 $389, 104
Excess (Deficit) of Revenue Over
Expenditures 7, 892 5, 390) -0- 21, 884 24, 386 15, 967
Fund Balance January 1 85, 654 95, 973 -0- $128, 802 $310, 429 $294, 462
Fund Balance December 31 93, 546 90, 5�3 -0- $150, 686 $334, 815 $310, 429
(Exhibit 9)
(See notes to financia:� statements)
This statement is an integral part of report dated May 25, 1979.
r
CAPITAL PROJECTS FUNDS
CAPITAL PROJECTS FUNDS
Captial Pro1ects Funds are created to account for all resources used for the
acquisition of capital facilities by a governmental unit except those �nan-
ced by special assessment and enterprise funds.
City of Brooklyn Center Exhibit ll
Capital Projects Funds
COMPARATIVE COMBINED BALANCE SHEET
Open-Space Capital Municipal Combined Statement
Lawcon Acquisition Projects State Aid For December 31,
ASSETS Fund Fund Fund_ Construction 1978 1977
Temporary investments 50, 000 537, 967 $1, 902, 409 $2, 490, 376 $2, 079, 382
Due from other governmental units 57, 560 17, 950 2 579, 615 655, 127 370, 724
Due from other funds 325 7, 259 7, 584
Totals 107, 560 17, 950 538, 294 $2, 489, 283 $3, 153, 087 $2, 45Q 106
LLABILITIES AND FUND BALANCE
L iabilit ie s
Accrued salaries payable 1, 549 l, 549
Temporary loan (Investment Trust Fund) 15, 877 15, 877
Contracts payable 2, 863 2, 863
Due to other funds 6, 914 32, 132 55, 341 94, 387
Total Liabilities 8, 463 15, 877 34, 995 55, 341 114, 676 -0-
Fund Salance
W Unexpended appropriations 99, 097 73, 740 31, 099 203, 936 16, 284 �I
I
Balance Restricted to state-approved projects 1,698,203 1, 695,203 1,503, 572
Unappropriated balance 2, 073 429, 559 704, 640 1, 136, 272 930, 250
Total Fund Balance (Exhibit 12) 99, 097 2, 073 503, 299 $2, 433. 942 $3, 038, 411 $2, 450, 106
Totals 107, 560 17, 950 538, `L94 $2, 489, 283 $3, 153, 087 $2, 450, 106 I
I
(See notes to financial statements)
This statement is an integral part of report dated May 25, 1979,
City of Brooklyn Center N:xhibit 12
Capital Projects Funds
COMPARATIVE COMBINED STATEMENT OF REVENUF_, EXPF,NDITL'RES
AND CHANGES IN FU1VD BALANCES
Open-Space Capital Munici.pal F'or the Years Ended
Laweon Aequisition Projects State 9id For December 31,
Fund Fund Fund Construction 1978 1977
Revenue
Intergovernmental revenue:
State grants 107,560 107,560
State shared gasoline taxes 332, 614 332, 614 333, 595
Interest on investments 33,943 136,637 170,580 139,993
Insurance proceeds building destroyed by fire 208, 987 208, 987
Total Revenue 107, 560 242, 930 469, 251 819, 741 473, 588
Expenditures
Construction costs:
Streets and storm sewers 10, 405 49, 601 60, 006 2, 017
Parks and playgrounds 8,463 20,676 43,155 72,294
Buildings 699 699 26, 398
Interest expense 870 870
Write off fire-related costs 15, 911 15, 911
Other expenditures 91
Total Expenditures 8, 463 21, 546 70, 170 49, 601 149, 780 28, 506
Other uses transfers to other funds 81, 656 81, 656 81, 662
Excess (Deficit) of Revenue Over Expenditures 99, 097 21, 546) 172, 760 337, 994 588, 305 363, 420
Fund Balance January 1
Unexpended appropriations :i, 284 13, 000 16, 284 130, 704
Balance restricted to state-approved projects 23, 619 1, 503, 572 1, 527, 191 1, 270, 659
Unappropriated balance 327,255 579,376 906,631 685,323
Fund Balance December 31 (Exhibit 11) 99, 097 2, 073 503, 299 $2, 433, 942 $3, 038, 411 $2, 450, 106
Unexpended Appropriations Portion 99, 097 73, 740 31, 099 203, 936 16, 284
Restricted Portion $1, 698, 203 $1, 698, 203 $1, 503, 572
Unappropriated Portion 2, 073 429, 559 704, 640 $1, 136, 272 930, 250
(See notes to financial statements)
This statement is an integral part of report dated May 25, 1979.
r i
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 oi in �art by property owners in a limited geographical area
deemed to be specially benefited distinguishes them from ir�provements
which benefit the entire community and which are paid far out of general
revenues or through the issuance of general obligation bonds.
Exhibit 13
Special Assessment Funds
COMPARATIVE COMBINED BALANCE SHEET
December 31, 1978
C ity of Brooklyn Center Exhibit 13
Special Assessment Funds
COMPARATIVE COMBINED BALANCE SHEET
ASSETS Bond #1 1955A 1956AC 1956B 1957AB 1958A 1958B 1959 AB 1960AB
Invested Investment Trust Fund 2, 163 72, 097 138, 981 14, 768 36, 826 107, 132 89, 572 52, 561 281, 885
Accounts receivable
Due from other funds
Due from other governmental units 497 290
Current delinquent assessments 10 2, 351 5, 878 291 3, 601 198 309 29, 236
City share of improvements (City General Fund)
Assessments receivable deferred 282 539 3, 669 20, 846 74, 381
Assessments tax forfeit land 74 146 98 481 158
Deferred interest charges
Bond discounts
Authorization to assess for construction in progress 1
Total Assets 2, 247 74, 448 145, 287 15, 307 37, 117 110, 831 93, 920 74, 213 385, 950 i
LIABILITIES AND FUND BALANCE
Accounts a ble
P Y�
Contracts payable
Accrued interest payable
Due to other funds
Construction loan payable
Bonds payable 35, 000 150, 000
Total Liabilities -0- -0- -0- -0- -0- -0- -0- 35, 000 150, 000
Fund Balance
Debt service (Exhibit 15) 2, 247 74, 448 145, 287 15, 307 37, 117 110, 831 93, 920 39, 213 235, 950
Construc�tion (Exhibit 14)
Total Fund Balance 2, 247 74, 448 145, 287 15, 307 S7, 117 110, 831 93, 920 39, 213 235, 950
Total Liabilities and Fund Balance 2, 247 74, 448 145, 287 15, 307 37, 117 110, 831 93, 920 74, 213 385, 950
(See notes to financial statements)
This statement is an integral part of report dated May 25, 1979.
-41-
Exhibit 13
Total Debt Construction December 31,
1961AB 1963A 1965A 1966A 1969A 1970 Fund 1973 Fund 1976 Fund Service Funds Fund 1978 1977
424, 347 289, 634 79, 038 148, 704 86, 943 21, 137 54, 332 196, 387 $2, 096, 507 32, 953 $2, 129, 460 $2, 129, 970
27, 975 27, 975 1, 303
245 31, 750 31, 995 95, 551 127, 546
652 1, 439 9, 534 10, 973 1, 439
3, 743 4, 021 1, 508 6, 025 9, 058 268, 228 127, 631 196, 564 658, 652 2, 939 661, 591 630, 246
75, 40? 47, 493 31, 055 153, 955 10, 927 164, 8�2 196, 582
47, 228 55, 962 47, 061 108, 402 164, 804 801, 225 346, 229 711, 744 2, 382, 372 235, 788 2, 618, 160 2, 876, 062
401 1, 107 989 3, 454 3, 454 5, 996
16, 682 3, 737 20, 419 20, 419 23, 031
599, 450 599, 450 300, 150
476, 371 349, 617 127, 607 264, 238 261, 050 $1, 214, 429 58d, 41i $1, 135, ?50 $5, 348, 793 $1, 015, 117 $6, 363, 910 $6, 164, 779
I
28, 381 28, 381 14, 004
121, 61? 121, 617 28, 108
47, 311 47, 311 19, 758 67, 069 43, 806
245 22, 233 22, 478 94, 297 116, 775 93, 495
126, 000 126, 000 485, 000 611, 000 316, 000
190, 000 125, 000 70, 000 210, 000 230, 000 955, 000 435, 000 900, 000 3, 300, 000 3, 300, 000 3, 845, 000
190, 000 125, 000 70, 000 210, 245 230, 000 955, 000 435, 000 $1, 095, 544 $3, 495, 789 749, 053 $4, 244, 842 $4, 340, 413
286, 371 224, 617 57, 607 53, 993 31, 050 259, 429 145, 411 40, 206 $1, 853, 004 $1, 853, 004 $1, 687, 643 I
266, 064 266, 064 136, 723
i� 286, 371 224, 617 57, 607 53, 993 31, 050 259, 429 145, 411 40, 206 $1, �53, 004 266, 064 $2, 119, 068 $1, 824, 366
476, 371 349, 617 127, 607 264, 238 261, 050 $1, 214, 429 580, 411 $1, 135, 750 $5, 348, 793 $1, 015, 117 $6, 363, 910 $6, 164, 779
-42-
I
City of Brooklyn Cente-r Exhibit 14
Special Assessments Funds
COMPARATIVE STATEMENT OF CONSTRUCTION APPROPRIATIONS
AND EXPENDITURES
For the Years Ended
December 31,
1978 1977
Appropriations balance, January 1 300, 150 17, 000
Appropriations during year 608, 391 363, 350
Appropriations closed during year 253, 750) 80, 200)
Appropriations Bala.nce, December 31 654, 791 300, 150
Construction expenditures, January 1 163, 427 5, 821
Expended during year 533, 223 236, 064
Projects closed during year 307, 923) 78, 458)
Construction Expenditures, December 31 388, 727 163, 427
Unexpended Appropriations for Construction 266, 064 136, 723
(Exhibit 13)
(See notes to financial statements)
This statement is an integral part of report dated May 25, 1979.
-43-
Cit of Brooklyn Center Exhibit 15
Special Assessments Funds
COMPARATIVE COMBINED STATEMENT OF REVENUE, EXPENDITURES AND
CHANGES 1N FUND BALANCES
For the Year Ended December 31, 1978 and 1977
REVENUE EXPENDITURES Excess (Deficit)
Paying of Revenue Fund Fund
Interest Interest Other Bond Agent Over Balance Balance
FiTND Total Assessments Investments Revenues Total Interest Char�es Expenditures January 1 December 31
Bond Fund No. 1 193 151 42 193 2, 054 2, 247
1955A 5, 088 5, O80 S 5, 088 69, 360 74, 448
1956AC 9, 842 34 9, 765 43 9, 842 135, 445 145, 287
1956B 1, 082 73 1, 009 i, 082 14, 225 15, 307
19579B 2,638 2 2,604 32 2,638 34,479 37,117
1958A 9, 557 688 8, 741 128 1, 054 1, 000 54 8, 503 102, 328 110, 831
1958B 7,810 421 7,175 `L14 5S9 540 49 7,221 86,699 93,920
1959AB 7, 076 1, 754 5, 322 2, 999 2, 925 74 4, 077 35, 136 39, 213
1960AB 30, 226 6, 664 23, 562 8, 542 8, 370 172 21, 684 214, 266 235, 950
1961AB 36, 854 3, 939 32, 915 9, 056 8, 920 136 27, 798 258, 573 286, 371
1963A 26, 256 4, 558 21, 698 5, 538 5, 500 38 20, 718 203, 899 224, 617
1965A 8, 655 2, 805 5, 850 3, 063 3, 040 23 5, 592 52, 015 57, 607
1966A 18, 263 6, 437 11, 826 11, 196 11, 150 46 7, 067 46, 926 53, 993
1969A 19, 141 il, 989 7, 152 16, 628 16, 575 53 2, 513 28, 537 31, 050
1970 81, 126 75, 402 5, 724 70, 987 70, 742 245 10, 139 249, 290 259, 429
1973 35, 090 30, 250 4, 840 23, 517 23, 473 44 il, 573 133, 838 145, 411
1976 71, 984 64, 443 7, 541 52, 351 52, 271 80 19, 633 20, 573 40, 206
Totals, Year 1978 370, 881 209, 459 160, 955 467 205, 520 204, 506 1, 014 165, 361 $1, 687, 643 $1, 853, 004
(Exhibit 13)
Totals, Year 1977 383, 628 243, 156 140, 472 -0- 244, 729 240, 945 3, 7S4 138, 899 $1, 548, 744 $1, 687, 643
(See notes to financial statements)
This statement is an integral part of report dated May 25, 1979.
i
ENTERPRISE FUNDS
Enterprise funds are established to account for the financing of self-sup-
porting activities of governmental units which render services on a user
i
I
charge basis to the general public. The most universal type of government
i
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 corribined water and sewer
systems under the same management. Another type of government enter-
prise in Minnesota is the Municipal Liquor operation.
I
i
I
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City of Brooklyn Center Exhibit 16
Enterprise Funds
COMPARATIVE COMBINED BALANCE SHEET
Municipal Public Combined Statement Municipal Public Combined Statement
Liquor Utilities December 31, LL4BILITIES, CONTRIBUTIONS Liqnor Utilities December 31,
ASSETS Fund Fund 1978 1977 AND RETAINED EARNINGS Fund Fund 1975 1977
Current Assets Current Liabilities
Cash on hand 3, 700 3, 700 3, 551 Accounts payable 87, 328 9, 819 97, 147 82, 040
Temporary investments 43, 134 479, 161 522, 295 297, 940 Accrued salaries payable 7, 227 5, 877 13, 104 12, 057
Accounts receivable 4, 401 119, 472 123, 873 81, 039 Accrued sales taxes payable 9, 390 1, 445 10, 835 10, 344
Less: Allowance for estimated Accrued expenses 20, 909 20, 909 67, 128
uncollectibles 4, 210) 2, 137) 6, 347) 4, 795) Current portion of long-term debt 35, 000 35, 000 35, 000
Due from other funds 2 15, 257 15, 259 75, 000 Due to other funds 29, 642 19, 777 49, 419 40, 455
Due from other governments 8, 579 8, 579 17, 741 Hydrant deposits 725 725 675
Assessments receivable 7, 187 7, 187 6, 277 Contracts payable 3, 346 3, 346
Inventories: Total Current Liabilities 133, 587 96, 898 230, 485 247, 699
Materials and supplies 15, 542 15, 542 15, 582
Merchandise for resale 212, 131 212, 131 152, 739 Long-Term LiabilitiPs
Prepaid expenses: Revenue bonds 590, 000 590, 000 625, 000
M. W. C. C. charges 42, 612 42, 612 46, 373 Less: Current portion 35, 000 35, 000 35, 000
Memberships 200 200 740 Total Long-Term Liabilities 555, 000 555, 000 590, 000
Rent 2, 897 2, 897 2, 777
Insurance 125 125 Contributions Toward Construction
Accrued water and sewer revenue 114, 540 114, 540 84, 013 Special assessments and developers $10, 012, 791 $10, 012, 791 $9, 843, 972
Total Current Assets 262, 180 800, 413 $1, 062, 593 808, 977 Total Contributions $10, 012, 791 $10, 012, 791 $9, 843, 972
Restricted Assets Deferred Credits
Lawsuit settlement receivable Gain on sale of assets 72, 266 72, 266 75, 551
(Note 3) 4, 668 4, 66S 7, 064 Metro Waste Control Commission
Temporary investments (Note 4) $3, 463, 865 3, 463, 865 $3, 312, 880 (Note 5) 262, 554 262, 554 249, 462
Due from other governments Deferred gain lawsuit
M. W. C. C. (Note 5) 262, 554 262, 554 238, 855 settlement (Note 3) 4, 668 4, 668 7, 064
Debt retirement account Total Deferred Credits 4, 668 334, 820 339, 488 332, 077
(Schedule 3, Note 4) 134, 424 134, 424 136, 472
Assessments receivable deferred 118, 031 118, 031 120, 457 Retained Earnings
Construction funds invested 70,298 70, 298 65, 300 Reserved:
Total Restricted Assets 4, 668 $4, 049, 172 $4, 053, 840 $3, 881, 028 Debt retirements 134, 424 134, 424 136, 472
Construction Funds (r7ote 4) 70, 298 70, 298 65, 300
Fixed Assets Working capital 20, 000 20, 000 20, 000
Mains and lines $10, 442, 764 $10, 442, 764 $10, 272, 186 Unreserved;
Structures 1, 835, 723 1, 835, 723 1, 790, 759 Designated for plant expansion 3, 463, 865 3, 463, 865 3, 312, 880
Equipm?nt 80, 754 266, 489 347, 243 332, 786 Undesignated 155, 905 329, 928 485, 833 284, 851
Land 23, 621 23, 621 23, 621 Total Retained Earnings 155, 905 $4, 018, 515 $4, 174, 420 $3, 819, 503 I
Land improvements 5, 898 5, 898 5, 89S {Exhibit 17)
Leasehold improvements 28, 799 28, 799 27, 285
Construction work in progress 48, 303 48, 303 39, 104
115,451 $12,616,900 $12,732,351 $12,491,639
Less: Allowance for depreciation 88, 139 2, 448, 461 2, 536, 600 2, 348, 393
Total Fixed Assets 27, 312 $10, 168, 439 $10, 195, 751 $10, 143, 246
Totals 294, 160 $15, 018, 024 $15, 312, 184 $14, 833, 251 Totals 294, 160 $15, 018, 024 $15, 312, 184 $14, 833, 251
(See notes to financial statements)
This statement is an integral part of report dated May 25, 1979.
City of Brooklyn Center Exhibit 17
Enterprise Funds
COMBINED COMP9RATIVE STATEMENT OF OPERATIONS AND RETAINED EARNINGS
Municipal Liquor Fund Public Utilities Fund
Humi�oldt Brooklyn For the Years Ended
Square Boulevard Northbrook Water Sewer December 31,
Store Store Store Total Department Department Total 1978 1977
Sales and Cost of Sales
Sales 550, 670 746, 461 812, 647 $2, 109, 778 $2, 109, 778 $1, 943, 225
Less: Cost of Sales 452, 448 618, 793 675, 574 $1, 746, 815 $1, 746, 815 $1, 614, 934
Trade discounts 9, 307) 13, 430) 14, 775) 37, 512) 37, 512) 38, 650)
443, 141 605, 363 660, 799 $1, 709, 303 $1, 709, 303 $1, 576, 284
Gross Margin 107, 529 141, 098 151, 848 400, 475 400, 475 366, 941
Operating Revenue
Service to consumers 424, 289 573, 380 997, 669 997, 669 846, 294
Service hookup charges 31, 353 24, 653 56, 006 56, 006 4, 828
Sale of water meters 9, 098) 9, 098) 9, 098) 7, 201
Penalties 6, 982 6, 982 6, 982 6, 852
Other 4, 325 6, 616 10, 941 10, 941 6, 755
Total Operating Revenue 457, 851 604, 649 $1, 062, 500 $1, 062, 500 871, 930
Operating Expenses
Total Operating Expenses 85, 136 76, 930 110, 269 272, 335 316, 490 678, 850 995, 340 $1, 267, 675 $1, 182, 399
(Schedules 3, 4, 5)
Operating Income (Loss) 22, 393 64, 168 41, 579 128, 140 141, 361 74, 201) fi7, 160 195, 300 56, 472
rn
Other Revenue
Interest earned:
Investments 2, 504 284, 344 286, 84S 256, 574
Special assessments 9, 100 9, 100 10, 735
Metro Waste Control Commission 10, 577 10, 577 8, 134
Construction funds 4, 998 4, 998
Miscellaneous 4, 761 4, 761 3, 029
Total Other Revenue 7, 265 305`, 019 316, 284 278, 472
Other Expense
Interest and fiscal agent fees 24, 447 24, 447 25, 84II
Miscellaneous 564 564
Total Other Expense 564 24, 447 25; O11 25, 848
Net Income to Retained Earnings (Exhibit 18) 134, 841 351, 732 486, 573 309, 096
Retained Earnings January 1 161, 064 $3, 655, 439 $3, 819, 503 $3, 624, 801
Transfers
To General Fund 140, 000) 140, 000) 125, 000)
From Metro Waste Control Commission reserves 8, 344 8, 344 10, 606
Total Transfers 140, 000) 8, 344
131, 656) 114, 394)
Retained Earnings December 31 (Exhibit 16) 155, 905 4, 018, 515
$4, 174, 420 $3, 819, 503
(See notes to fivancial statements)
This statement is an integrxl part of report dated May 25, 197�.
C ity of Brooklyn Center Exhibit 1�
Enterprise Funds
COMPARATIVE COMBINED STATEMENT OF CHANGES IN FINANCLAL POSITION
I Municipal Public For the Years Ended
Liquor Utilities December 31,
Sources of Financial Resources Fund Fund 1978 1977
Operations:
Net income for year (Exhibit 17) $134, 841 $351, 732 $486, 573 $309, 096
Add; Items not requiring current outlay of resources:
Depreciation 10, 474 178, 186 188, 660 180, 205
Total Resources Provided by Operations $145, 315 $529, 918 $675, 233 $489, 301
Collections of other receivables 2, 396 8, 344 10, 740 11, 856
Debt retirement investments sold 2, 048 2, 048 682
Increase in M. W. C. C. deferred credits 13, 092 13, 092
Contributions toward construction 168, 819 168, 819 40, 100
Decrease in assessments receivable 2, 426 2, 426 27, 006
Totals $147, 711 $'�24, 647 $872, 358 $568, 945
Uses of Financial Resources
Purchase of properties 2, 145 $239, 020 $241, 165 $187, 566
Payments to retire bonds 35, 000 35, 000 35, 000
Decrease in lawsuit deferred credits 2, 396 2, 396 1, 250
Increase in working capital 3, 170 267, 660 270, 830 43, 194
Increase in restricted investments 150, 985 150, 985 169, 281
Increase in M. W. C. C. receivable 23, 699 23, 699
Transfers to General Fund 140, 000 140, 000 125, 000
Amortization of deferred gain on sale of assets 3, 285 3, 285 3, 285
Cons�ruction funds invested 4, 998 4, 998 4, 369
Totals $147, 711 $724, 647 $872, 358 $568, 945
(See notes to financial statements)
This statement is an integral part of report dated May 25, 1979.
City of Brooklyn Center Schedule 3
Municipal Liquor Fund
COMPARATIVE STATEMENT OF OPERATING EXPENSES
Humboldt Brooklyn For the Year Ended
Square Boulevard Northbrook December 31,
Store Store Store 1975 1977
Operatin� Expenses
Salaries and wages 39, 566 52, 241 57, 653
$149,460 $140,971
Rent 17, 857 16, 697 34, 554 33, 684
Payrolltaxes 3,400 4,311 4,926 12,637 73,313
Utilities 4, 034 2, 385 3, 953 10, 372 12, 095
Depreciation and amortization 6, 825 417 3, 232 10, 474 9, 592
Znsurance 5,631 7,278 9,083 21,992 10,407
Supplies 1, 839 1, 9S9 2, 880 6, 70S 6, 535
Equipment rent 1, 654 2, 199 2, 722 6, 575 5, 588
Repairs and maintenance 4S3 1, 428 3, 055 4, 966 2, 250
Audit 426 426 426 1, 278 1, 534
Heating 591 i, 512 1, 659 3, 762 3, 130
Provision for uncollectible checks and cash short 628 413 334 1, 375 1, 382
Laundry 352 409 491 1,252 1,250
Protection services 449 477 571 1, 497 1, 500
Inventory variance and breakage 688 470 1, 798 2, 956 4, 990
Telephone 400 400 400 1,200 1,018
co Advertising 208 194 205 607 507
Miscellaneous 77 363 166 606 434
Taxes and licenses 28 18 18 64 64
Total Operating Expenses (Exhibit 17) 85, 136
76, 930 $110, 2 $272, 335 $250, 244
(See notes to financial statements)
This statement is an integral parY of report da�ed May 25, 1979.
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City of Brooklyri Center Schedule 4
Public Utilities Fund
WATER DEPARTMENT COMPARATIVE OPERATING EXPENSES
Classification by Function
Source of Trans- Admini Customer Combined Statemerit
Supply mission stration Accounting 1978 1977
Depreciation 52, 536 54, 872 $107, 408 $100, 036
Labor 14, 958 20, 325 28, 963 26, 404 90, 650 74, 640
Electricity 41, 995 41, 995 44, 057
Repairs and maintenance 8, 232 2, 256 4, 478 4, 588 19, 554 15, 574
Meters for replacement 6, Z40
Materials and supplies 10, 570 1, 780 2, 257 988 15, 595 16, 483
Rent and a�ininistration 15, 963 15, 963 13, 686
Equipment rental 269 269 8, 539
Payroll taxes 5, 540 5, 540 7, 362
Postage 6, 684 6, 684 6, 384
'a' Professional fees 1, 047 1, 047 1, 453
Insurance 5, 416 5, 416 2, 850
Employee benefits 2, 426 2, 426 2, 604
Fuel heating 2, 461 2, 461 1, 578
Printing 75 75 129
Schools and conferences 843
Uncollectible accounts 786 786
Small tools and equipment 67 37 104 346
Miscellaneous 517 517 200
Totals (Exhibit 17) $130, 819 79, 270 67, 737 38, 664 $316, 490 $302, 904
(See notes to fina,ncial statements)
This statement is an integral part of report dated May 25, 1979.
City of Brooklyn C er�ter Schedule 5
Public Utilities Furid
SEWER DEPARTMENT COMPARATIVE OPERATING EXPENSES
Cla.ssi.fication by Function
Disposal and Trans- Admini- Customer Combined Statement
Pumping mission stration Accounting 1978 1977
Depreciation 22, 928 47, 850 70, 778 70, 577
Metro Waste Cont rol
Commission Charge
(Note 5) 496, 804 496, 804 463, 610
Labor 10, 821 16, 503 12, 860 10, 494 50, 678 46, 693
Rent and administration 15, 963 15, 963 13, 686
Equipment rental 8, 542
Electricity 8, 233 8, 233 7, 668
Payroll taxes 5, 540 5, 540 4, 605
Repairs and maintenance l, 60� 535 4, 995 4, 653 11, 787 1, 591
Professional fees 2, 095 1, 048 3, 143 1, 453
Postage 2, 931 2, 931 2, 571
Materials and supplies 653 1, 026 2, 371 4, 050 4, 107
Insurance 5, 436 5, 436 1, 729
Employee benefits 2, 106 2, 106 1, 629
Small taols and equipment 767 767 463
Printing 178 178 109
Fuel heating 226 226 188
Miscellaneous 230 230 30
Totals (Exhibit 17) $541, 269 68, 776 50, 549 18, 256 �678, 850 $629, 251
(See notes to financial statements)
This statement is an integral part of report dated May 25, 1979.
A
City of Brooklyn Center Schedule 6
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, December 31, January 1, December 31,
1975 Additions Disposals 1978 1978 Additions Deletions 1978
Water Department
Mains and lines 5, 487, 172 112, 851 5, 600, 023 636, 094 54, 872 690, 966
Structures 1, 217, 570 44, 964 1, 262, 534 291, 290 40, 585 331, 875
Equipment 242, 181 14, 278 256, 459 148, 600 11, 951 160, 551
Land 23,071 23,071 -0-
Total Water Department 6, 969, 994 172, 093 -0- 7, 142, 087 1, 075, 984 107, 408 -0- 1, 183, 392
Sewer Department
Mains and lines 4, 785, 013 57, 728 4, 842, 741 843, 268 47, 850 891, 118
Structures 573,189 573,189 340,993 22,928 363,921
F_;uipment 10, 030 10, 030 10, 030 10, 030
Land 550 550 -0- -0-
Total Sewer Department 5, 368, 782 57, 728 -0- 5, 426, 510 1, 194, 291 70, 778 -0- 1, 265, 069
cn
Work in Pro�ress 39, 104 48, 303 39, 104 48, 303
Totals (Exhibit 16) $12, 377, S80 278, 124 39, 104 $12, 616, 900 2, 270, 275 178, 186 -0- 2, 448, 461
(See notes to financial statements)
This statement is an integral part of report dated May 25, 1979.
I
TRUST AND AGENCY FUNDS
Trust and Agency Funds account for assets held by the City as a trustee
or agent for individuals, private organizations, and other governmental
units.
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 investment income. Earnings are distributed annually on a pro
rata participation basis.
City of I3rooklyn Center Exhibit 19
Trust and Agency Funds
i COMPARATIVE COMBINED BALANCE SHEET
A G E N C Y T R U S T
Fire Public (Note g)
Housing and Department Employees Police Investment
Redevelopment Relief Retirement Pension Trust December 31,
ASSETS Authority Association Association Fund Fund 1978 1977
Cash on hand in in depositories 230, 718 230, 718 71, 286
Temporary investments 759 15 212, 588 213, 362 15, 492
Accrued revenue 3, 243 251, 093 254, 336 203, 810
Due from other funds 27, 348 27, 348 14, 156
Taxes receivable 3,031 1,114 13,903 18,048 28,421
Due from other governmental units 2, 013 826 2, 839 2, 012
Securities held for investment 169, 984 11, 076, 380 11, 246, 364 11, 065, 151
Totals 5, 803 1, 129 4'L7, 892 -0- $11, 558, 191 $11, 993, 015 $11, 400, 328
LIABILITIES AND FUND BALANCE I
Liabilities
Accounts payable 21, 085 21, 085 11, 365
Performance and other deposits 31, 100 31, 100 30, 488
Due to other funds 2, 565 149 2, 714 2, 713
cn Due funds participating in Investment
`i 'rrust Fund 11, 527, 091 11, 527, 091 11, 314, 051
Total Liabilities 2 565 149 21, 085 -0- $11, 558, 191 $11, 581, 990 $11, 358, 617
Fund Balance
Expendable (Exhibit 20) 3, 238 980 406, 807 -0- -0- 411, 025 41, 711
T 5, 803 1, 129 427, 892 -0- $11, 558, 191 $11, 993, 015 $11, 400, 328
(See notes to financial statements)
This statement is an integral part of report dated May 25, 1979.
City of I3rooklyn Center Exhibit 20
Trust and A�ency Funds
C'OMPARATIVE COMBINED ST9TEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE
Fire Public (Note 8)
Housing and Department Employees Police Investment
Redevelopment Relief Retirement Pension Trust December 31,
Authority Association Association Fund Fund 1978 1977
R evenue
Ad valorem levies 41, 28?, 134, 658 175, 940 185, 273
Intergovernmental revenue:
State-Insurance premium rebates 43, 463 57, 860 101, 323 85, 850
Employee contributions 485 S, 408 8, 891 31, 260
Enterprise Fund contributions 15, 642 15, 642 23, 245
Interest on investments 759 15 31, 064 2, 182 766, 349 800, 369 716, 072
Sale of assets 1, 152, 898 1, 152, 898
Total Revenue 42, 041 43, 478 239, 709 1, 163, 486 766, 349 2, 255, 063 1, 041, 700
Expenditures
City contributions:
Fire Relief Association 43, 786 43, 786 39, 214
Public Employees Retirement Association 1, 031, 020 1, 031, 020 143, 927
Policemen� s Pension 75, 696
Earnings distributed to participating funds 765, 576 765, 576 637, 855
Professional fees 269 773 1, 042 2, 144
U' Miscellaneous 13 350 363 2, 295
w
Transferred to H. R. A. Authority 43, 962 43, 962 40, 233
Total Expenditures 43, 962 43, 799 1, 031, 639 -0- 766, 349 1, 885, 749 941, 364
Excess (Deficit) of Revenue Over Expenditures 1, 921) 321) 791, 930) 1, 163, 486 -0- 369, 314 100, 336
Transfers I
Police Pension to P. E. R. A. 1, 163, 486 1, 163, 486) -0- 93, 280)
Fund Balance January 1 5, 159 1, 301 35, 251 -0- -0- 41, 711 34, 655
Fund Balance December 31 (Exhibit 19) 3, 238 980 406, 807 -0- -0- 411, 025 41, 711
(See notes to financial statements)
This statement is an integral part of report dated May 25, 1979.
I
i
i r r
GENERAL FIXED ASSETS GROUP OF ACCOUNTS
General Fixed Assets are those fixed assets of a governmental jurisdiction
which are no� accounted for in an Enterprise, Working Capital, or Trust
Fund. To be classified as a fixed asset in this category, a specific piece of
property must possess three attributes:
(1) tangible nature; (2) a life longer than the current fiscal year; and (3) a
significant value.
City of Brooklyn Center Exhibit 21
STATEMENT OF GENERAL FIXED ASSETS
Balance Ba, lance
January 1 December 31,
1978 Acquisitions Disposals 1978
Investments in Fixed Assets
Land and land improvements 367, 448 7, 370 374, 818
Buildings and building improvements 2, 803, 615 124, 880 79, 495 2, 849, 000
Park properties (including buildings) 1, 498, 767 62, 025 1, 560, 792
Furniture and fixtures 171, 591 4, 337 175, 928
Departmental equipment 1, 260, 558 69, 483 20, 762 1, 309, 279
Storm sewers and street projects 9, 360, 110 290, 490 9, 650, 600
Total Investment in Fixed Assets $15, 462, 089 558, 585 100, 25? $15, 920, 417
Sources of Investments Decreases Increases
General indebtedness 600, 491 600, 491
General Fund revenues (includes ad valorem levies 1 854 943
20, 762 154, 465 1, 988, 646
Liquor Fund revenue certificates 304, 571 304, 571
Contributions received 327, 398 327, 398
Special assessment projects 9, 355, 826 296, 834 9, 652, 660
Capital Projects Fund:
General obligation bonds 2, 250, 000 2, 250, 000 I
Ad valorem tax levy for 1968 and 1969 265, 243 265 243
Sale of land 38, 654
38, 654
Transfer of surplus from special assessments
Debt Service Funds 198, 386 198, 386
Transfer from Mayor and Council's Contingency
A ccount 3, 000
3, 000
Interest earnings on investments 207, 615 43, 473 56, 381 220, 523
Federal grants 42, 245 21, 000 21, 245
Local units 13, 717 15, 022 1, 305 -0-
State grants 49, 600 49, 600
Total Sources of Investments $15, 462, 089 100, 257 558, 585 $15, 920, 417
(See notes to financial statements)
This statement is an integral part of report dated May 25, 1979.
GENERAL LONG-TERM DEBT 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 constituent funds. Moreover, the proceeds of such debt may
be spent on facilities which are utilized in the operations of several funds.
For these reasons, the amount of unmatured long-term indebtedness which
is backed by the full faith and credit of the government should be recorded
and accounted for in a separate self-balancing group of accounts titled the
"General Long-Term Debt Group of Accounts". This debt group will
include, in addition to conventional general obligation bonds, time warrants
f
and notes which have a maturity of more than one year from date of
c
issuance.
c
i
t
City of Brooklyn Center Exhibit 22
COMPARATIVE STATEMENT OF GENERAL LONG-TERM
DEBT AND INTEREST
December 31,
1978 1977
Amounts Available and to be Provided
Amounts available in Debt Service Funds (Exhibit 9) 334, 815 $•310, 429
Amounts to be provided in future periods:
General obligation bond interest 603, 550 788, 166
General obligation bond principal 2, 325, 000 2, 545, 000
Special assessments levied on City
owned properties 164, 882 196, 582
$3, 428, 247 $3, 840, 177
General Debt and Interest to be Paid in Future Periods
Prineipal portion of debt $2, 489, 882 $2, 741, 582
Interest payable in future years 938, 365 1, 098, 595
Total General Debt and Interest to be Paid
in Future Periods $3, 428, 24? $3, 840, 177
(See notes to financial statements)
This statement is an integral part of report dated May 25, 1979.
-55-
Gity of BrooklXr► Center
STATISTICAL INF'ORMATION SFJCTION
TABLE OF COrTI'ENTS
Schedule Page Ntunber
General Governmental Expenditures by Function I 1
Revenues Other Than Special Assessments II 2
Tax Levies and Tax Collections III 3
Assessed Value and Market Value of All Taxable
Property IV 4
Tax Rates and Tax Levies V 5
Notes to Tax Rates and Tax Levies VI 6
Special Assessnent Collections VII 7
Ratio of Net Bonded Debt to Assessed Value and
Net Bonded Debt Per Capita VIII 8
C�nputation of Direct ancl Overlapping Debt IX 9
State�nt of L�gal Debt Margin X �0, 11
Ratio of Annual Debt Service �penditures for
General Bonded Debt to Total General �penditures XI 12
Schedule of Revenue Bond Coverage XII 13
SLU�ru�ry of Debt Service Requirements to Maturity XIII 14, 15
Schedule of Insurance Coverage XIV 16
Miscellaneous Statistical Facts XV 17 19
City of Brooklyn Center Schedule I
GIlVERAL GOVF�ITAL EXPENDITURES BY FUNCTION
Last Ten Fiscal Years
Public Cc�munity
Fiscal General Safety and Public Health Parks and Debt Pension
Year GoverYUnent Welfare Works Services Recreation Service Expense
1969 $250,841 434,168 $484,154 $15,258 $238,011 88,608 $198,614
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
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
*Pension expense is allocated to these functional exp�nditures.
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A i r
City of Brooklyn Center Schedule II
RE,'VENtJE O�I'f�ER THAN SPECIAL ASSESSMIIV�I'S
Last Ten Fiscal Years
Charges R�venues in Excess
General for C�.irrent Licenses of �penditures
Fiscal Property Shared Services and and Fines and Public Liquor
Year T�es Taxes Other Revenue Permits Forfeitures Utilities Stores
1969 $1,074,532 311,099 $638,206 77,773 $44,031 $161,925 $175,884
1970 1,122,156 440,813 206,399 49,859 57,970 331,351 17�,761
1971 1,256,531 526,907 302,073 67,837 53,638 276,935 168,406
1972 Z,212,708 824,105 319,651 100,455 37,172 278,089 133,972
1973 1,371,366 992,477 368,382 96,006 53,862 527,510 123,316
N
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
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 1,884,074 1,604,452 494,772 179,062 68,281 351,732 134,841
City of Brooklyn Center Schedule III
TAX LEVIES AND TAX COLLECTIONS v
Last Ten Years
Collections Ratio of
of Current Percentage Collections of Accumulated
Year's Taxes Levy Collected Prior Year's Taxes Ratio of Total Accumulated Delinquent
year Total During Fiscal During Fiscal During Fiscal Total Collections Delinquent Taxes to Current
Collected Tax Levy Period Period Period Collections to Tax Lev,y Taxes Year Tax Levy
1969 $1, 068, 236 $1, 036, 863 97. 06% 16, 612 $1, 053, 475 9862:1
59, 742 05593:1
1970 1, 112, 080 1, 085, 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 02470":1
1972 1, 195, 237 1, 163, 912 97. 38 96, 219 1, 260, 131 1. 0543:1 48, 409 04050:1
w
1973 1, 353, 452 1, 302, 941 96. 27 19, 480 1, 322, 421 9771:1 42, 173 03116:1
1974 1, 518, 271 1, 442, 873 95. 03 34, 450 1, 477, 323 9730:1 89, 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, 919 920�: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 08285:2
Note: The City's taxes are the only o-�es included in this table.
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City of Brooklyn Center Sch�dule IV
ASSESaED VALUE AND MARKET VALUE OF ALL TAXABLE PROPERTY
Last Ten Years
1970 1971 1972 1973 1974 1975 1976 1977 1978 1979
Population (=�Actual) 34, 717 35, 173T 36, 370 36, 908 37, 207 36, 954 37, 081 36, 116 34, 110 33, 700
Real Property
Assessed Value (Limited):
C ity:
Homestead 12,472,359 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
Excess and non-homestead 8, 173, 952 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
Area-wide allocation (net) 460, 981 133, 422 201, 206) 1, 190, 083) 1, 464, 192)
Total Assessed Value 20, 646, 311 25, 971, 942 26, 456, 957 88, 678, 134 94, 004, 953 97, 994, 555 $109, 626, 015 $119, 286, 173 $120, 427, 225 $125, 504, 050
Estimated Market Value
(Limited): $185,389,446 $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
Personal Propert,y
A Assessed Value 1, 619, 077 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
Estimated Market Value 10, 644, 204 10, 394, 151 10, 730, 184 5, 590, 100 6, 179, 500 6, 634, 865 6, 505, 874 7, 059, 986 8, 227, 700 10, 207, 900
Total Real and Personal Property
Assessed Value 22, 265, 388 27, 560, 202 27, 770, 379 91, 081, 877 96, 662, 138 $100, 846, 547 $112, 426, 900 $122, 320, 876
$123, 965, 136 $129, 893, 447
Estimated Market Value $196, 033, 650 $236, 415, 015 $240, 653, 319 $254, 918, 765 $268, 715, 443 $277, 334, 126 $308, 145, 599 $336, 523, 229 $290, 15 655 $407, 019, 432
Ratio of Assessed Value to
Estimated Market Value .11358:1 .11658:1 .11540:1 .35730:1 .35972:1 .36363:1 .36485:1 .36348:1 .317733:1 .319133:1
Per Capita Valuations
Assessed Valu2 641. 34 783. 56 763. 55 $2, 467. 81 $2, 597. 96 $2, 729. 00 $3, 031. 93 $3, 386. 89 3, 634. 28 3, 854.40
Estimated Market Value $5, 646.61 $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
(1) 1972 and sub�equent valuations reflect changes as provided for in Laws 1971, Extra Session, Chapter 31, as amended.
(2) 1975 property values and sub�equent values include actual amount allocated p�arsuant to Laws 1971, Extra Sessioz, Chapter 24,
from area-wide "Pool".
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City of Brooklyn Center 5chedule V
TAX RATES AND TAX LEVIES
Years 1959 Through 1979
Area School District County To±al City, School, County and State N. H. S.
Year Voc-Tech #286 #279 #281 #11 Special State Dist. #286 Dist. #Z79 Dist. #281 Dist. #11
Collectible City School (Earle Brown) (Osseo) (Robbinsdale) (Anoka) Districts(7) N. H. S. H. S. (Earle Bro�vn) (Osseo) (Robbinsdale) (Anoka)
(1) (2) �3) (4)
Tax Rates Mills Per $100 of Asses�e3 �'a'�:e
1959 52.05 130.94 146.66 115.18 104.95 39.32 12.42 5.90 234.73 250.45 218.97 208.74
1960 51.00 167.56 157.64 120.10 114.70 40.14 14.32 5.10 273.02 263.10 225.56 220.16
1961 45.26 189.64 163.00 139.20 123.53 41.46 13.85 6.84 293.21 265.57 242.77 227.10
1962 48.54 211.59 179.99 158.69 134.00 45.40 15.51 6.39 321.04 289.44 268.14 243.45
1963 50.12 219.00 184.62 154.72 131.09 47.23 16.85 8.31 333.20 298.82 268.92 245.29
1964 50.68 225.60 189.62 150.08 134.85 52.51 17.14 8.22 345.93 309.95 270.41 255.18
1965 49.80 215.26 195.50 154.72 144.77 59.69 16.14 6.84 340.89 321.13 280.35 270.40
1966 41.62 227.22 199.98 155.00 153.23 55.66 18.42 18.32 352.92 325.68 280.70 278.93
1967 51.62 227.90 203.00 158.76 160.00 53.30 17.24 17.14 349.89 324.99 280.75 281.99
1968 51.34 236.29 211.80 163.56 188.32 64.77 352.40 :i'G`l.el 279.67 304.43
1969 50.94 .78 266.63 252.28 184.57 265.29 70.00 388.35 374.00 306.29 386.23($)
1970 49.65 4.51 294.55 295.42 215.01 297.66 77.18 425.89 426.76 346.35 424.49(8)
1971 44.11 7.96 250.31 216.0� 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(5) 2.644(5) 55.786(5) 54.023(5) 44.727(5) 54.920(5) 27.014(5) 100.162(5) 98.399(5) 389.103(5) 96.652(5K8)
1974 15.710(5) 3.084(5) 56.805(5) 54.634(5) 50.289(5) 54.845(5) 28.965(5) 104.564(5) 102.393(5) 98.048(5) 99.520(5x8)
1975 17.988(5)(6) 3.372(5) 61.074(5) 57.654(5) 50.787(5) 60.190(5) 33.142(5) 115.576(5) 112.156(5) 105.289(5) 111.320(5x8)
1976 15.607(5)(6) 2.759(5) 54.204(5) 53.435(5) 49.043(5) 55.270(5) 31.275(5) 103.8�5(5) 103.076(5) 98.684(5) 102.152(5X8)
1977 15.725(5)(6) 2.485(5) 52.663(5) 53.648(5) 49.875(5) 58.400(5) 34.063(5) 104.936(5) 105.921(5) 102.148(5) 108.188(5x8)
1978 16.646(5)(6) 2.132(5) 53.537(5) 52.434(5) 49.690(5) 55.840(5) 35.086(5) 107.401(5) 106.298(5) 103.554(5) 107.572(5x8)
1979 17.880(5)(6) 2.227(5) 47.451(5) 45.073(5) 46.645(5) 47.706(5) 35.450(5) 103.008 100.630(5) 102.202(5) 101.036(5X8)
Tax Levies oa Property Vdithin Brooklyn Center
Area School District County Total City,
Year Voc-Tech #286 #279 #281 #11 Total SpecYal Schools,
Collectible School (Earle Brown)(Osseo) (Robbinsdale) (Anoka) School Districts (7) City State County State
1959 327, 629 237, 021 228, 907 30, 387 823, 954 252, 434 333, 000 54, 601 1, 463, 989
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
1967 836, 669 1, 142, 570 790, 174 210, 428 2, 979, 841 828, 401 804, 858 268, 168 4, 881, 268
1968 888, 684 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, 466, 912 1, 571, 708 1, 535, 659 632, 575 5, 504, 960 2, 799, 819 1, 518, 562 9, 823, 341
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, O10 1, 629, 635 789, 077 6, 174, 947 3, 511, 979 1, 752, 564(6) 11, 439, 490
1977 265, 953 1, 786, 278 1, 534, 979 1, 800, 122 910, 670 6, 598, 002 4, 156, 788 1, 849, 989(6) 12, 604, 779
1978 231, 488 1, 853, 423 1, 865, 301 1, 841, 345 889, O60 6, 680, 617 4, 345, 690 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
(1) Formerly #118 (2) Formerly #28 (3) Formerly #24 (4) Formerly #29, #220 (5)= Due to determination of assessed valuation calculation changed by state law enacted
(6) Includes tax levy for the Housing and Redevelopment Authority of Brooklyn Center, in 1971 the resulting mill rate is approximately one-third as great as before the
(7) Includes Metro Council, Metro Transit Commission, Mosquito Control District, enactment of the new law.
Park Museum. (8)= Area Vo-Tech school tax rate is excluded.
I
City of Brooklyn Center Schedule VI
NOTES TO TAX RATFS AND TAX LEVIES
Years 1959 Through 1979
T� Limitation 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 assessnents for
local improvements not included in above limitation.
Taxes Due Date:
First Monday in January
Taxes Delinquent Date:
Personal Property March l, amr�unts 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 80
Hanestead Real Estate June 3%, July 4%, August 50, September 6�,
October 7%, November and DecetN�er 8%; after first N�nday in
January 10 0
Non Hanestead Real Estate June 70, July 80, August 9%,
September 100, October 11%, November and December 120;
after fir.st Monday in January 14%.
Tax sale date second Morx�ay 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.
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City of Brooklyn Center Schedule VII
SPECIAL ASSESSMEtVT COLLECTIONS
Last Ten Years
Current Special Total Current
Assessments Amount and Delinquent
Installments Collected Ratio of Current Assesssments Current
Fiscal Beccgn.ing Due During C�.irrently During Collections to Unrollected Percentage Balance
Period the Fiscal Period the Fiscal Period Amount Due At Year End Collected Uncollected
1969 $538,959 $476,727 .8845:1 $136,043 98.690 7,049
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
i 1973 787,054 589,500 .7490:1 312,177 94.89 40,248
i
1974 742,130 634,434 .8549:1 202,970 85.49 107,696
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
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City of Brooklyn Center Schedule VIII
RATIO OF NET BONDED DEBT TO ASSE'SSED VALUE A1`JD NET BONDED D�T PER CAPITA
Last Ten Years
Less:Amount Ratio of Net Net Bonded
Fiscal Estimated Assessed Gross In Debt Net Bonded Debt To Debt Per
Period Population Value* Bonded Debt Service Funds Bonded Debt Assessed Values* Capita
1968 33,000 50,450,682 $5,068,400 $1,986,325 $3,082,075 .0611:1 93.40
1969 34,306 62,831,238 7,626,400 1,534,261 6,092,139 .0970:1 177.58
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 1,793,277 8,211,723 .0993:1 225.78
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 I
1974 36,954 96,662,138 8,407,000 1,874,002 6,532,998 .0675:1 176.79
i
1975 37,081 100,386,566 7,605,000 2,115,984 5,489,016 .0547:1 148.03
1976 36,116 112,293,478 7,770,000 2,188,250 5,581,750 .0497:1 154.55
1977 34,110 122,320,876 7,015,000 2,193,710 4,821,290 .0394:1 141.35
1978 33,700 123,965,136 6,215,000 2,652,259 3,562,741 .02873:1 105.72
*Assessed value has been restated for years prior to 1972 so as to be on a ba.sis camparable
to 1972.
City of Brooklyn Center Schedule IX
COMPUTATION OF DIREC..'T AND OVERLAPPING DF�T
December 31, 1978
City of Brooklyn Center
Gross Sinking Share
Governmental Unit Debt Funds Net Debt Per Cent A�unt
Direct and Overlapping Debt
Direct Debt:
City of Brooklyn Center (1) 6,215,000 2,652,259 3,562,741 100.000 3,562,741
Overlapping Debt:
School Districts:
No. 281 (Robbinsdale) 25,643,000 4,918,716 20,724,284 10.20o 2,113,877
No. 11 (Anoka) 33,725,000 3,872,648 29,852,352 5.90% 1,761,289
No. 279 (Osseo) 22,832,498 6,717,843 16,114,655 26.80% 4,318,728
No. 286 (Brooklyn Center) 1,535,000 199,127 1,335,873 100.000 1,335,873
Area Voc. Tech. School:
No. 287 17,600,Od0 2,033,806 15,566,194 4.90% 381,372(2)
Metro Transit 11,400,000 2,320,980 9,079,020 1.50� 136,185
Metro Council Revenue Supported 136,939,000 13,879,538 123,059,452 (3) (3)
Metro Council T� Supported 34,350,000 21,174,220 13,175,780 1.50� 197,637
Hennepin County 41,275,000 4,294,192 36,980,808 2.70% 998,482
Hermepin County Park District 3,250,000 735,794 2,514,206 2.700 67,884
Total Overlapping Debt $328,549,498 $60,146,864 $268,402,634 $11,311,327
Total Direct and Overlapping Debt $334,764,498 $62,799,123 $271,965,375 $14,874,068
(1) Includes $3,300,000 debt outstanding to be paid fram special assessments, $765,000 debt outstanding on State
Aid Street Bonds, and $590,000 debt outstanding on revenue bonds.
(2) This debt is approximately 50o 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 syst�n.
Overlapping
Comparative Net Debt Ratios Chargeable to City Total Direct Debt Debt
Debt to assessed value ($129,893,447) 11.45% 2.74$ 8.710
Debt to market value ($407,019,432) 3.650 .880 2.78�
Per capita debt (population 33,700) $411.37 $105.72 $335.65
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1
1
Cit� of Brooklyn Center Schedule X
STATIIKII�I' OF LEGAL DF�T MARGIN
December 31, 1978
Assessed Value, January 1, 1978 $129,893,447
Debt limit 6.67% of assessed value (See Note A) 8,663,893
Total bonded debt $6,215,000
Deductions (See Note B):
A. Bonds
l. Special Assessment Bonds $3,300,000
2. State Aid Street Bonds 765,000
3. Utility Revenue Bonds 590,000
$4,655,000
B. General Debt Service Fund 308,550 4,963,550
Total Debt Applicable to Debt Limit 1,251,450
L al Debt Mar in Dec�nber 31 1978
eg g 7,412,443
Note: (A) M.S.A. Section 475.53 (See following page)
Note: (B) M.S.A. Section 475.51 (See following page)
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City of Brooklyn Center Schedule X
STATII�T.P OF LDGAL DEBT MARGIN (Cont'd)
December 31, 1978
Note (A): M.S.A. Section 475.53 et seq. Limit on Net Debt:
"Subdivision l. Generally, except as otherwise provided in
sections 475.51 no municipality, except a school district or
a city of the first class, shall incur or be subject to a net
debt in exeess of 6,67 per cent of the assessed value."
Note (B): M.S.A. Section 475.51 Definitions:
"Subdivision 4. 'Net Debt' means the amaunt 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
followinq:
(1) Obligations issued for improve�nents which are payable
wholly or partly fram the proceeds of special assessnents
levied upon property specially benefited thereby, including
those which are general obligations of the municipality issuing
them, if the municipality is entitled to reunbursements in
whole or in part fram the proceeds of the special assessnents.
(2) Warrants or orders having no definite or f�ed maturity.
(3) Obligations payable wholly fran the income fran revenue-
producing conveniences.
(4) Obligations issued to create or maintain a permanent improve-
ment revolving fund.
(5) Obligations issued for the acquisition, and bettennent of
public water w�rks syst�ns, and public lighting, heating or
power syst�ns, and of any combination thereof or for any other
public convenience fram which a revenue is or may be derived.
(6) Amount of all money and the face value of all securities held
as a sinking fund for the extinguishment of obligations other than
those deductible under this subdivision.
(7) All other obligations which under the provisions of the law
authorizing their issuance are not to be included in canputing
the net debt of the municipality."
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City of Brooklyn Center Schedule XI
RATIO OF ANN[JAL DEBT SERVICE EXPENDITCTRE.S FOR GII�]ERAL
BONDID DF,BT TO TOrI'AL GENERAL EXPII�7DITURES
Last Ten Years
Ratio of Debt
Total Total General Service to General
Year Principal Interest Debt Service Expenditures Expenditures
1969 51,000 37,608 88,608 $1,591,987 5.570
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 16.86
N 1974 180,000 209,397 389,397 2,577,758 15.10
i
1975 185,000 198,708 383,708 2,839,621 13.51
1976 225,000 186,730 411,730 3,224,183 12.76
1977 215,000 173,130 388,130 3,239,892 11.98
1978 220,000 160,180 380,180 4,636,712 8.20
City of Brooklyn Center Schedule XII
SCHEDULE OF RE'�IENUE BOND COVERAGE
Last Ten Years
Net Ratio of Net
Gross (1) Revenue Debt Service Revenue to
Year Revenue Ex�enses Available Principal Interest Total Debt Service
1969 854,367 $360,24g $494,118 $40,000 $36,775 $76,775 6.4 to 1
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
i 1974 1,048,447 471,046 577,401 30,000 29,400 59,400 9.7 to 1
`i 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 9.34 to 1
(1) F�cludes depreciation and interest on bonds
1971 and prior includes Liquor Store Revenue Bonds.
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Schedule Xill
SUMMARY OF DEBT SERVIGE REQUIREMENTS TO MATURITY
December 31, 1978
City of Brooklyn Center Schedule XIII
SUMMARY OF DEBT SERVICE REQUIREMENTS TO MATURITY
December 31, 1978
Total Total Total Total
Fiscal General G.O. Special State-Aid Total Debt Service
Year Obligation Bonds Assessment Bonds Street Bonds Revenue Bonds Requirements
1979 253, 990 665, 530 102, 915 58, 010 $1, 080, 445
1980 229, 665 626, ?57 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, 530 438, 640
1g88 169, 500 115, 070 74, 160 53, 775 412, 505
1989 159, 750 89, 330 70, 125 52, 020 371, 225
1990 64, 830 66, 075 50, 265 181, 170
1991 61, 620 62, 025 48, 510 172, 155
1992 46, 755 46, 755
To±al $2, 164, 880 $4,118, 093 $1, 098, 535 769, 497 $8, 151, 005
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City of Brooklyn Center Schedule XIII
SUMMARY OF DEBT SERVICE REQUIREM�NTS TO MATURITY Continued
December 31, 197 8
Total
Fiscal General Obligation Bonds G.O. Special Assessment Bonds Is.O. State-Aid Street Bonds Revenue Bonds Debt 5ervice Requirements
Year Principal Interest Principal Interest Principal Intere�t Principal Interest Principal Interest
1979 155, 000 98, 990 495, 000 I70, 530 55, 000 47, 915 35, 000 23, O10 740, 000 340, 445
1980 140, 000 89, 665 480, 000 146, 757 55, 000 44, 546 35, 0�0 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, 00� 18, 720 595, 000 232, 672 i
1983 140, 000 64, 460 345, 00� 84, 665 60, 000 33, 750 40, 000 17, 160 585, 000 200, 035
1984 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, 99I 480, 000 128, 861
1986 140, 000 37, 700 125, 000 28, 185 60, 000 22, 140 45, 000 12, 2$5 370, 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 14, 160 45, 000 8, 775 355, 000 57, 505
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, 000 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, 155
1992 45, 0�0 1, 755 45, 000 1, 755
Total $1, 560, 000 $604, 880 $3, 300, 000 818, 093 $765, 000 $333, 535 590, 000 $179, 497 $6, 215, 000 $1, 936, 005
(Schedule XIII)
Cit,y oF Brooklyn Center Schedule XIV
SCHEDULE OF INSURANCE COVERAGE
December 31, 1978
Policy Period
�Type of Coverage and Details From To Liability Limits
I. 5tatutor,y Liability to Employees
a. Workers' Compensatioz 7-1-78 7-1-79 Statutory
II. Liability to the Public
a. '°General Liability, Comprehensive 1-1-78 1-1-79
(1) Bodily Injury 300, 000 Combined Single Limit
(2) Property Damage 300, 000 Combined Single Limit
(3) Personal Injury 300, 000 Combined Single Limit
b. Automobile Liability, Comprehensive 1-1-78 1-1-79
(1) Bodily Injury 300, 00� Occurrence
(2) Property Damage 300, 000 Occurrence
(3 Uninsured Motorist 300, 000 Occurrence
c. Liquor Stores' Dram Shop 1-1-78 1-1-79 500, 000 Occurrence
III. Loss_of Income o� City Enterprises
a. Liquor Store� 1-1-78 1-1-79 50, 000 Per Location
b. Public Utilities 1-1-78 1-1-79 300,000
Buildings and Structures Content:
(Replacement Coat) (Actual Cash Value)
IV. Insurance on City Prop�rty
a. Public and Institutional Property,
All Risk, $100 Dedactible, 90%
Co-Inaurance 1-1-7g 1-1-79
(1) Civic Center $2, 530, 000 250, 000
(2) East Fire Station 288,000 15,000
(3) Municipal Service Garage 547, 000 37, 000
(4) Elevated Water Toa�ers 3 locations 2, 773, 000
(5) Park Sh2lter Buildings 17 locations 409, 000
(6) Pump Houses 6 loc3tions 230, 000 63, 500
(7) Lift Stations 9 lo�ations 508, 000
(8) Meter Station 30, 000
(9) Storage Buildings 2 locations 68, 000
(10) Park Garage 20,000 1,300
(11) Outdoor Lighting Systems 6 locations 94, 400
(12) Liquor Store Fire Station 257, 000 97, 000
(13) Leased Liquor Stores 2 locations 226, 000
(14) Movable Properties 126, 474
Liabilit,y Limits
b. Boiler and machinery 1-1-78 1-1-79 1, 000, 000 per Accident
c. Automotive Physical Damage 1-1-78 1-1-79
(1) Compreh�nsive ACV No Deductible
(Z) Collision ACV 500 Deductible
V. Criminal Acts
a. Fidelity and Faithful Performance 200, 000 Per Loss
b. Mo�ey and Securities (broad form) Various
c. Depo�itor's Forgery 50, 000
'The comprehensive general liability includes the following additional coverages:
(a) All employees as additional insureds
(b) Personal injury coverage to include false arrest, libel, slander, wrongful entry or eviction or invasion of right of privacy
(c) Broad contractual liability
(d) Products liability
I
16
City of Brooklyn Center Schedule XV
MISCELLAr1DC)US �TATISTICAL FACTS
December 31, 1978
Date of Incorporation February 14, 1911
Date of P,doption of City Chapter November 8, 1966
Effective Dec�nber 8, 1966
Form of Government Council-Manager
Fiscal Year Begins January 1
Area of City 8� squ�are miles
Miles of Streets:
City 100
State 12
County 6
Miles of Storm Sewers 3�
N�nber of Street Lights 835
Building Pezmits:
1 Ntunber of Permits Issued:
1978 818
1977 566
1976 568
1975 645
1974 423
1973 390
1972 708
1971 425
197U 404
1969 460
195Q-1968 inclusive 11,474
Estimated Cost:
1978 13,578,901
1977 6,228,087
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:
Ntunber of Stations 2
Ntunbe.r of Volunteer Fir�n 37
Police Protection:
NLUnber of Stations 1
Nurnber of Eniployees 43
Vehicle Patrol Units 11
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City of Brookl�n Center Schedule XV
MISCII T��US STATISTICAL FACTS (Cont' d)
Dece�nber 31, 1978
Parks and Recreation:
288 acres developed for regular use. 226 additional acres of City-owned
land designat2d for parks and playgrour�ls to be developed.
Full-time employees 15
Part-time anployees 200 (seasonal)
Supervised playgrounds 17
Park shelters 17
Ice skating rinks 17
Hockey rinks 6
Softball diamonds 23
Baseball diamonds 5
Tennis courts 12
Basketball courts 6
Fducation:
Public ScY�ols:
School Districts within Brooklyn Center (4)
No. ll No. 286 No. 281 No. 279
(Anoka) (Earle Brown) (Rpbbinsdale) (Osseo)
Total school buildings 34 2 22 18
School buildings within
Brooklyn Center 1 2 1 3
Total Students registered 31,766 1,577 20,140 15,084
Students frccn Brooklyn
Center registered 1,591 1,577 947 3,538
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
*1978 assessed
valuation $297,592,647 $40,469,404 $426,871,363 $230,947,763
*1978 assessed valu-
ation in Brooklyn
Center 15,508,285 $37,127,025 38,826,718 35,506,214
Parochial schools (1)
St. Alphonsus School grades 4- 8- Total students registered 350
*Assessed valuation prior to fiscal disparities and tax increment calculations.
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City of Broaklyn Center Schedule XV
MISC�•r,n�nUS STATISTICAL FACTS (Cont'd)
December 31, 1978
M�icipal Water Plant:•
N�nber of connections 7,690
Average daily cons�tion 3,296,737 gallons
Peak daily cons�unption 8,868,000 gallons
Plant capacity daily 15,264,000 gallons
Miles of water mains 108
Niunber of fire hydrants '7'74
NLUnber of wells 7
Number of elevated reservoirs 3
Storage capacity 3,000,000 gallons
Water rate per thousand gallons 35�
Municipal Sewer Plant:
Ntunber of connections g, p92
Miles of sanitary sewer 98
Daily disposal capacity 7,416,000 gallons
Ntunber of life stations g
Residential rate $12.75 per quarter
Municipal Liquor Stores (Off Sale)
N�nber of owned stores 1
Ntm�ber of leased stores 2
1978 sales $2,109,778
City E�nployees
As of Dece�nber 31, 1978
Pernti or regular 119
Tenporary or part-time 118
'I'otal 237
Elections:
General city election 1978 21,066
NLUnber of votes cast in general election 12,679
Percentage of registered voters voting 60.2�
Registered voters last state election 21,066
NLmiber of votes cast last state election 12,679
Percentage of registered voters voting 60.20
Population:
1940 1,870
1950 4,284
1960 24,356
1965 (special census) 30,108
I 1970 35,173
1975 36,954
1978 34,600
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