HomeMy WebLinkAboutAnnual Audited Financial Report-1977 ANNUAL
AUDITED FINANCIAL REPORT
of the
CITY MAlVAGER
of
l
BROOKLYN CENTER, MINNESOTA
For The Year Ended December 31, 1977
j GERALD G. SPLINTER, C1TY MANAGER
i
Pre ared b
P Y
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 �he Year Ended December 31, 1977
TAB LE OF C ONTENTS
Exhibit Page
�Vumber Number
Listing of City Officials 1
Organization Chart 2
Lo�ation of City Properties 3
Letters of Transmittal 4- 16
Financial Statements Section
Auditor's Rep��rt 17
Combined Balance Sh�et All Funds and Acco�ant
Groups (Co�densed Form) December 31, 1977 1 18, 19
j Comparative Combined Statement of Revenues,
Exp�°nditures and En�u.mbr•ances, General and
Special Revenue Funds 2 20
Comparative Combined Schedule of Taxes
Receivable Schedule 1 21
Combined :Schedule o.f Bonds Payable Schedule 2 2.3, 23
C ombined Schedule of Investments Schedule 3 24
Gene ral Fund Statements
Comparative Balance She°t 3 25
Comparative Statement of Changes in
Fund Balance 4 26
Comparative Statement of Revenues, Expnn-
ditures, Encumbrances and Transfers 5 27
Cit of Brookl Center
Y Yn
ANNUAL FINANCIAL REPORT
For the Year Ended December 31, 1977
TABLE OF CONTENTS
Exhibit Page
Number Number
Gene ral Fund Statements, C ont' d
Statement of Revenue Budget Actual
Objective Classification Schedule 5-A 28
Comparative Statement of Expenditures and t
Encumbrances Budget and Actual
Classified as to .Activity, Character and
Object Schedule 5-B 29
Special Revenue Funds Statements
Comparative Coxnbined Balance Sh��et 6 30
Comparative Combined Statement of
Revenue, Expenditures and Fund Balances 7 31
Debt Service Funds
Comparative Combined Balance Sheet 8 32
Comparative Combined Statement of Revenues
Exp�nditures and Fund Balances 9 33
Capital Projects Funds Statements
Com arative Combined Balance Sheet 10 34
P
Comparative Combined Statement of Appro- t
priations, Expenditures and Fund Balances 11 35
City o.f Brooklyn Center
ANNUAL FINANCIAL REPORT
1 For the Year Ended December 31, 1977
TABLE OF CONTENTS
Exhibit Page
Number Number
Enterprise and Public Service Funds Statements
Municipal Liquor Fund
Comparative Balance Sheet 12 36
Comparative Statement of Operations and
Retained Earnings 13 37
C omparative Statement of Changes in
Financial Position 14 38
Public Utilities Fund
Comparative Balance Sheet 15 39
Comparative Statement of Operations and
Retained Earnings 16 40
Comparative Statement of Changes in
Financial Position 17 41
Water Department Comparative Operating
Expenses 18 42
Sewer Department Comparative Op�rating
Expenses 19 43
Statement of Utility Plant in Service and
Allowance for Depreciation 20 44
Trust and Agency Funds Statements
Comparative Combined Balance Sheets 21 45
Comparative Combined Statement of Principals
Balance 22 46
Com arative Combined Statement of Revenue,
P
Expenditures and Fund Balances 23 47
1 Cit of Brookl Center
Y 3'n
ANNUAL FINANCIAL REPORT
For the Year Ended December 31, 1977
TABLE OF CONTENTS
Exhibit Page
Number Number
Investment Trust Fund Statements
Comparative Balance Sheet 24 48 i
Comparative Statement of Earnings 25 49
Changes in Participating Funds' Balances 26 50
Special Assessment Funds Statements
Comparative Combined Balance Sheet 27 51
Comparative Combined Statement of Revenue,
Expenditures and Fund Balance 28 52
Comparative Statement of Constructio�
Appropriatio�s and Expenditures 29 53
Comparative Statement of Constructio�
Expenditures Compared to Appropriations
and .Assessment of Benefits 30 54
General Fixed Assets and General Long-Term Debt
Statement of General Fixed Assets 31 55
Comparative Statement af General Long-Term
Debt and Interest 32 56
Schedule of General Long-Term Debt and
Interest by Maturities 33 57
I City of Brooklyn Center
ANNUAL FINANCIAL REPORT
For the Year Ended December 31, 1977
TABLE OF CONTENTS
Exhibit Page
Number Number
Notes to Financial Statements
No±e 1 All Funds 58-61
Note 2 Al.l Funds 61
Note 3 Municipal Liquor Fund 61
Note 4 Public Utilities Fund 62-63
Note 5 Public Utilities Fund 64
Note 6 Sp�cial Assessment Funds and
Statement of General Long-
Term Debt and Interest 64
Note Pension Plans and Pensio� Funds 65
Note 8 Form�r City Hall Fire 66
Note 9 Brooklyn Center House and Recevelop-
ment Authority 66
Note 10 Contingent Liabilities 66
Statistical Inforrnation Section
C it of B rooklyn C ente r
Y
LISTING OF CITY OFFICALS
For the Year Ended December 31, 1977
Elected Officals
Term of Office Term Expires
Mayor Philip Cohen Two Years 12-31-77
Councilman Maurice Britts Three Years 12-31-77
Councilman Bill Fignar Three Years 12-31-78
Councilman Tony Keufler Three Years 12-31-78
Councilman Gene Lhotka Three Years 12-31-79
Officals Not Elected
City Manager Gerald G. Splinter
City Clerk Allen S. Lindman
City Treasurer Paul W. Holmlund
City Attorney Richard Schieffer
Administrative Assistant Ronald Warren
Administrative Assistant Brad Hoffman
Department Heads:
Finance Paul W. Holmlund
Public Works James Merila
Police Thomas G. O'Hehir
Fire Ronald Boman
Planning and Inspection A. Blair Tremere
Park and Recreation Eugene Hage1
Assessment Peter Koole
Liquor Stores Truman Nelson
Stree.t and Park Superintendent Henry Davis
Public Utilities Superintendent Frank �snith, Jr.
Recreation Superintendent Arnold liJiavis
Health Officer Dua.ne Orn, M. D.
Fire Marshal Linus Manderfeld
Sanitarian Thomas Heenan
Civil Defense Coordinator James Lindsay
-1a- I
C ity of Brooklyn Center
LISTING OF CITY OFFICIALS
At May 31, 1978
Elected Officials
Term of Office Term Expires
Ma or Dean N quist Twa Years 12-31-79
Y Y
Councilman Tony Kuefler Three Years 12-31-78
Councilman Bill Fignar Three Years 12-31-78
Councilman Gene Lhotka Three Years 12-31-79
Councilwoman Cecilia Scott Three Years 12-31-80
Officials Not Elected
C it Mana er Gerald G. Splinter
Y g
City Clerk Allen S. Lindman
City Treasurer Paul W. Holmlund
C ity Attorney Richard Schieffer
Administrative Assistant Ronald Warren
Administrative Assistant Brad Hoffman
Department Heads:
Finance Paul W. Holmlund
Public Works James Merila
Police Jame s Lindsay
Fire Ronald Boman
Planning and Inspection A. Blair Tremere
Parks 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 Manderfield
Sanitarian Thomas Heenan
Civil Defense Coordinator James Lindsay
lb- I
r �w
ORGANIZATION CHART
COUNCIL MANAGER PLAN
City of Brooklyn Center, Minnesota
ADVISORY ELECTORATE CHARTER COMMISSION
Capital Improve�nent Review Bd.
ADVISORY
Youth Advisory Commission
ADVISORY CITY COUNCIL
Housing Commission
ADVISORY
Conservation Commission CITY ATTORNEY�
I i
��i
ADVISORY
Human Rights Commission CITY MANAG�R �ldministrative Assistant
City Clerk
Purchasing Officer,
ADVISORX
Parks and Recreation Commission
Administrative Assistants
r ADVISORY
Planning Commission Civil
Defense
t I I I I I I
DIRECTOR DIRECTOR CHIEF DIRECTOR DIRECTOR CHIEF MANAGER DIRECTOR ASSESSOR
Planning Finance Police of Parks and Volunteer Liquor Public Tax
and Department Department Environmental Recreation Fire Store Works Assessment
Inspection City Health Department Department Department Department
i Department Treasurer Department City
Governmerit Engineer
Buildings
i
Engineering Street Pub.lic
Division Division Utilities
Division
i
i
City of Brooklyn Center
Location of City Properties December 31, 1977
lt�
t ti i
t t
H
t i G
�t 4
i
4 t /,i
1 �Ft s
1 is� o 1 J f
u
i_. J �a'-.
:i �,l( li i
t L p LiJ
L..—.. I'' J
�`)f�' �H�HiHj. LA'.1�
1 i I i i
I f 3
:v`�,R�
af�a f
r -�z y
.r� a. t
.Y..
e r
r�� F i
,I ��o 1 1
b
TM� I
4 I T i
Park SYstem Key
i
f 1. W illow Lane Park
2 Orchard Lane Park
/;��c��� 3. Kylawn Park
Lakeside Park
..T
i 5. Brooklane Park
�;�,a
�.._.1. 6. Wangstad Park
City General Properties 7, Northport Park
A. City�Hall (Vacated 6-7-71) 8. Happy Hollow
B. Water Tower 9. Palmer Lake Park
C. West Fire Station Liquor Store �#2 10. Garden City Park
D. Library (Land Only-County Librar.y) 11. Proposed Park
E. Liquor Store ##3 (located on le.ased 12. Lions Park
prc�perty (Northport Shopping 13. Grandview Park
Center) 1�. Eve.rgreen Park
F.& G. Vacant 15. Bellvue Parlc
H. Well 16. M�rlin Parl:
I. Garage 2 wells 1 water tank 17. Firehouse Park
J. Liquor Store #1 18. Riverdale P�r.k
K. Con�n�unity Center Central Park ly. Free�aay Park
L. Municipal Service G�rage 20. River Ri.c7ge Park (MisG.River)
hl. East Fire Station
(Stat.e owned)
21 Twin Lake F3e��ch Park
-3- (Citv St��te owned)
i
CITY
OF
B RO 6301 SHINGLE CREEK PARKWAY
VKLYN BROOKLYN CENTER, MINNESOTA 55430
TELEPHONE (612� 561-5440
CENTER
june 5 19 78
i
1
HONORABLE MAYOR AND CITY COUNCIL
CITY OF BROOKLYN CENTER
Sec•tion 7.12 of �the Ci•ty Charter requires �the Ci•ty Manager •to submi•t
an annual audi�ted report to �the Council coverfng �t3�e en�tire financfal
sys•tem of the Ci�ty far •the pa st year
The annual audi•ted financfal report of �the Ci•ty for �the year ended
December 31 1977, prepared by •the Departmen�t of Finance under
my general supervision, is submi�t�ted for your considera�tion.
Respec�tfully submi�tted,
Gerald G. lin�ter
Ci�ty Mana er
CITY OF BROOKLYN CENTER
GGS:dkw
-4-
7lse So.�ce�li�c� �aae
June 1, 1978
Mr. Gerald G. Splinter
City Manager
�rooklyn Center, Minnesota
Dear Mr. Splinter;
The Annual Financial Report of the City of Brooklyn Center,
Minnesota, for the year ended December 31, 1977, is submitted
herewith.
THE REPORT
The organization, form and content of this report has been
prepared using standards prescribed by the Municipal Finance
Officers' Association of the United States and Canada, the National Com-
mittee on Governmental Accounting, the American Institute of
Certified Public Accountants, 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 January 14, 1978, the Municipal Finance Officers' Asso-
ciation 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 standa.rds of public
financial reporting as promulgated by the MFOA and the National
Committee on Governmental Accounting. A Certificate of Confor-
mance is awarded by the MFOA only to the governmental unit whose
financial report is judged to conform substantially to the high stand-
ards for financial reporting established by the Association. These
standards are contained in publications of the National Committee on
Governmental Accounting. I believe the report herewith 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.
_5_ i
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
the Council for the proper administration of all affairs relating to
the C ity.
The City Manager is the chief accounting officer of the City and
must provide such information about the finances of the City as the
Councilmay 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 �re appointed by the City Manager. Appoint-
ment or removal of departxnent heads are made final upon a majority
vote of the Council.
The City carries faithful performance blanket bond coverage in
the amount of $20, 000 on all City employees.
GENERAL OPERATIONS
The City, in addition to the usual activities such as: general
government, public safety and welfare, highways, recreation and parks;
operates three off-sale liquor stores and a public sewer and water utility.
Net revenues produced in excess of working capital requirements by
municipal liquor store operations have been used toward financing current
expense and capital outlay programs of the City General Fund.
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 accountiag for all activities of the City is divided into various
purpose gronps or fund� 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 a to gowernmental entiti�s as set forth by the National
Committee On Govern�nental Aceounting;
-6-
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 budg�ted.
The City Manager is charged with the responsibil.ity 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 becoxnes the formal budget
for City operations. After the budget resolution is adopted, the
Council can increase the budget only if actual receipts exceed the
estimates or from accumulated surplus in the amount of an unexpended
appropriation from the previous fiscal year.
Financial reports, which compare actual performance with
the budget are prepared monthly and presented to the Council so the
Council is able to review the financial status and measure the effect-
iveness of the budgetary controls.
Governmental budget procedures are not used in connection
with the liquor stores or public utilities operations, because these
operations are primarily of comrnercial 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 1977 follows:
I
1
_7_ i
Proposed Expenditures Public Service Enterprise Excluded);
City operations (General Fund) $3, 270, 133
Park Bond Redemption Fund 24, 500
1969 Building and Improvement Bond
Redemption Fund 254, 600
Firemen's Relief Association 31, 480
Employees' Retirement Fund 126, 000
Policemen's Pension Fund 48, 799
Total Proposed Expenditures $3, 755, 512
Proposed Source of Financing;
Taxation (See summary of taxation pre-
sented below) $1, 881, 960
Intergovernmental (State and Federal) Revenue 1, 268, 194
Tax penalties 15, 000
Local Revenues:
General government services 298, 545
Permits and licenses 92, 000
Court fines 45, 000
Miscellaneous revenue 29, 813
Transfers-in:
Liquor Fund 125, 000
Total Proposed Financing $3, 755, 512
Ad valorem tax levies for the current year 1977 and for the two previous
years (1976 and 1975) are summarized and presented below:
1977 1976 1975
Mill Rate Amount Mill Rate Amount Mill Rate Amount
Tax Levy
City Operations 11. 910 $1, 462, 797 11. 260 $1, 263, 539 12. 52 $1, 248, 939
Debt Redemption
Funds 2.272 279, 100 2. 673 299, 900 3. O1 299, 200
Public Employees'
Reti.rement Fund 1. 026 126, 000 1. 096 123, 000 1. 15 115, 000
Policemen's Pen-
sion Fund 111 13, 583 222 24, 878 74 74, 126
Firemen's Relief
Association 004 480 032 3, 580 35 34, 815
Total Levy 15. 323 $1, 881, 960 15. 283 $1, 714, 897 17. 77 $1, 772, 080
-8-
1977 1976 1975
Assessed Valuation
Real Estate $119, 487, 379 $109, 359, 171 97, 072, 593
Non-exempt persanal
property 3, 034, 703 2, 800, 885 2, 852, 992
Fiscal disparities adjust-
ment 201, 206) 133, 422 460, 981
Total Assessed Valuation $122, 320, 876 $112, 293, 478 $100, 386, 566
The financial condition of each fund as of December 31, 1977
and the results of each Fund's operations for the year, together with a
comparison of these results to budget estimates and a comparision to
the previous years' results, is presented within the financial statements
sectiQn of this report.
GENERAL FUND
As of December 31, 1977, the fund balance of the General Fund
which had not been appropriated to a specific expenditure purpose totaled
$1, 351, 874. This amount represents the working capital that is available
to finance general operations of the City.
Consider ing the time lag relating to tax collections (approximately
seven months) and based on the anticipated needs of the 1978 budget,
the working capital accumulation appears to be conservatively adequate
without 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
$3, 589, 375 in 1977, an increase of $389, 918 over the previous year.
The following table presents an analysis of the major revenue sources
of the General Fund for 1977 and its change from 1976:
Increase
of (Decrease)
Revenue Source 1977 Total 1976 From 1976
Taxes, ad valorem $1, 527, 010 42. 5% $1, 274, 322 $252, 688
Shared taxes 999, 309 27. 8% 925, 058 74, 251
Charges for services 292, 891 8. 2% 292, 842 49
Inter-fund charges 50, 127 1. 4% 27, 762 22, 365
Licenses and permits 131, 107 3. 102, 339 28, 768
Court fines 54, 420 1. 5% 48, 475 5, 945
Other Income 233, 160 6. 5% 177, 415 55, 745
Transfers from other funds 291, 536 8. 1% 351, 244 59, 708)
Appropriations from fund
balance 9, 815 3% 9, 815
Total Revenue $3, 589, 375 100. 0% $3, 199, 457 $389, 918
eg�
t Ex enditures for en�ral overnmental o erations totaled
P g P
$3, 095, 965 in 1977, an increase of $135, 683 over �he previous
year. The following table pre�ents an analysis of the major expend-
iture function of the General Fund for 1977 and its change from 1976;
Increase
of (Decrease)
Expenditure By Function 1977 To+:al 1976 From 1976
General Government 76�, 921 24. 7% 722, 116 42, 805
Public Safety 961, 851 31. 1% 849, 672 112, 179
Public Works 678, 905 21. 9�J 692, 545 13, 640)
Community Health Service 50, 973 1. 7% 62, 014 11, 041)
Parks and Recreatio� 639, 315 20. 6�Jo 633, 935 5, 38�
To±al Expenditures $3, 095, 965 100. 0% $2, 960, 282 $135, 683
The complete repor*ing of the Gener. aZ Funa financial operations
and position can be found in th�� Gen�ral Fund Statements section o£ this
repor
LEVY LIMITATIONS
Minnesota's Levy Limitatio� Law was first implemented in 1972
and has placed alimitation o� the amount of incre�.sed property tax which
a city can levy. The amount of increase is gen�rally Iimited to 6�Jo per
capita per year. The folloNing table summarizes the City's compliance
with the law for 1977 and 1976:
1977 1976
Total tax levy $1, 881, 960 $1, 714, 897
Less sp��cial tax levie� 473, 028 485, 882
Limited levy $1, 408, 932 $1, 228, 015
Levy limitation 1, 649, 898 1, 606, 060
Under Levy $_240, 966 378, 045
FISCAL DISPARITIES
The State Legislature enacted a"Fiscal Disparity Law" in 1971
which was not implem�nted u.ntil taxes payable in 1975 dup to a consti-
tutional challenge. The law provides for the "po�ling" of 40�Jo of all
new commercial and industrial prop��rty valuation in the seven county
metropolitan area. Valuation from this "pool" is redistributed to
taxing jurisdictions according to specified criteria.
-10-
It is difficult to determine the fu±ure impact of the dis-
parity law on Brooklyn Center. The first two years of experience
under the law showed a slight gain in valuation to the City. However,
the next two years showed a valuation loss. The City has a net
loss of $796, 886 in valuation since the inception of the law. The
fiscal disparities adjustments for the four 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)
Four Year
Total $14, 684, 842 $13, 887, 956 796, 886)
FEDERAL REVENUE SHARING
The City was allocated $209, 508 in Federal Revenue Sharing
funds during the calendar year 1977. During the year, the City Council
authorized transfers of $190, 980 to ±he 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
Outstanding general obligation bonds on December 31, 1977,
totaled $6, 390, 00� of which $3, 845, 000 was issued to provide permanent
financing for water, sanitary sewer, storm sewer and street assessments.
The repayment of these bonds is provided from the proceeds of special
assessments levied against the benefited property. Included also in the
outstanding G. O, bonds were $820, 000 of G. O. State Aid Street Bonds
which were issued to finance state aid projects and are repaid from state
allotments. The remaining $1, 725, 000 is direct tax supported debt which
is repaid by the proceeds of ad valorem tax levies. During the past year,
$720, 000 of general obligations bonds were retired. 1
Outstanding revenue bonds on December 31, 1977 totaled $625, 000.
These are bonds issued in 1963 for improvements to the water utility
and are repaid from the p�ablic utilities revenues. During the past year,
$35, 000 of revenue bonds were retired.
-11-
The City has a current Moody's Investors Ser�Jice bond
rating of "A".
PUBLIC UTILITIES
Comparative data for the City's Pu'Qlic Utilities operations
for the past two fiscal years are shown in the following table:
1977 1976
Water Department operating revenues $436, 029 �547, 402
Sewer Department operating revenues 435, 901 439, 754
Water Department operating income 133, 125 205, 684
Sewer Department operating income or
I (loss) 193, 350) 101, 836)
Combined utilities net income 60, 225) 356, 773
Water cuatomers at year end 7, 565 7, 363
Sewer customers at year end 8, 019 8, 032
The Water Department operating revenues are to be used to
finance syatem maintenance and future system expansion and improve-
ments.
The 1977 sewer rates had been in effect since 1971. At that
time, rates were set to provide a five year level rate structure. It
was projected that the sewer operation would show an operating income
the first two years, break even the third year, show an operating
deficit the last two years, and an overall slight operating income
for the five year period. Those projections have been realized. A new
rate study was completed in 197? and a rate increase became effective
on April 3, 1978.
The complete rep�rting 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 $121, 536 for the calendar year ended December 31,
1977. The Liquor Fund transferred 125, 0�� daring the year to the
1 General Fund to assist in the financing of City operating expenses. A
condensed comparison of the stores' 1977 operations with those of
1976 follows:
-12-
1�
1977 1976
1
Sales $1, 943, 225 $1, 928, 717
Cost of sales 1, 576, 284 1, 557, 212
Groas profit o� sales 366, 941 371, 505
Operating expenses 250, 244 229, 920
Net operating income 116, 697 141, 585
Interest and other income 4, 839 5, 558
Net Income 121, 536 147, 143
1977 1976
Transfers to the General Fund 125, 000 140, 000
The complete reporting of the Liquor Fund's financial o�er-
ations 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 depojits, rep�.�rchase agreements,
savings and loan associations' savings certificates and City of Brooklyn
Center construction notes issued to provide temporary financing for
constructio� in the special assessment funds.
The average yield o� investments during the year was 7. 11°Jo and
the Fund distributed $637, 855 in interest earnings to *.he participating
funds.
The complete rep�rting of th�° Investment Trust Fund's finan-
cial operations and position can be found in the Trust and A gency Funds
Statements section of this report.
SPECIAL ASSESSMENT FUNDS
Sp�cial Assessment Funds are used to finance and account for
the co:�struction and financing of certain public improvements such as
residential streets, storm sewers, sanitary sewers, and water mains
which are to be paid for wholly or in part from special assessments
levied against benefited property. The Special Assessment Funds are e
also used to account for assessments levied against the individual pro-
perty owners which are usually paid in installments over a period of
years. During 1977, the City assessed $68, 821 of benefits to property
owners.
-13-
The complete rep��rting of the Sp?cial Assessment Fund's fin-
ancial operations and position can be found in the Special Assessments
Funds Statements section of this report.
GENER,AL FIXED ASSETS
The general fixed assets of the City are those fixed assets
used in the performance of general governmental functions and
exclude the fixed assets of ths Pu�lic Utilities Fund and the Liquor
Fund. As of December 31, 1977, the general fixed assets of the
City amounted to 15, 462, 089, based o� original cost. Depreciation
of general fixed assets (o+,her 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 is in the pro�ess
of automating its fixed asset control system and that project should
be co-npleted in 1978. The system will provide computations of
1 depreciation for all depreciable fixed assets in such manner that
information is readily available for management purposes.
1 The complete reporting of the General Fixed Assets accounting
can be found in the General Fixed Asset Statement section of this report.
INDEPENDENT AUDIT.
Section 7. 12 of the Cit,y Charter re�uires that the City Man-
ager's annual report to the Council concerning the entire financial
system of the City 'be audited. This requirement has been complied
with and the auditor's opinion has been included in this report.
I Respectfully submitted,
1
��w-
Paul W. Holmlund
Director of Finance
1
1
1
-14-
SUPPLEMENTAL
Certificate
of
Conformance
in Financial
Reporting
Presented to
Cit of `3roo:� n �enter �in�lQSOta
Y Y
For its Annual Financial Report
for the Fiscal Year Ended
`�¢ce�nber 31,1976
A Certificate of Conformance in Financial Reporting is presented
by the Municipal Finance Officers Association of the United States and Canada
to govemmental units whose annual financial reports are judged to
substantially conform to the financial reporting principles and
standards promulgated by the National Council on Governmental Accounting.
Pre nt
xecutive D�tor
Date Jana�4ry �S,19Z6.
—1rJ—
CITY OF
BROOKLYN CENTER, MINNESOTA
CERTIFICATE OF GONFORMANCE
On January 14, 1978, the Municipal Finance Officers Association
of the United States and Canada (MFOA) awarded a Gertificate of Con-
formance in Financial Reporting for the annual financial report of the City
of Brooklyn Center for the year ended December 31 1976.
A Certificate of Conforrnance is valid for a period of three years
subject to two annual reviews. We believe that our current annual
financial rep�rt continues to conform to Certificate of Conformance program
requirements. In order to maintain the validity of our Certificate, we are
submitting this report to MFOA for the required annual review.
DEPARTMENT OF FINANCE
GITY OF BROOKLYN GENTER
-16-
MOEN AND PENTTILA
CERTIFIED PUBLIC ACCOUNTANTS
SUITE 203 VALLEY SOUTH BUILDING
MEMBER OF 6950 WAVZATA BOULEVARD (612) 546.3306
AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS MINNEAPOLIS. MINNESOTA 55426
June 28, 1978
Honorable City Council
City of Brooklyn Center, Minnesota
We have examined the financial statements of the various funds
and account groups of the City of Brooklyn Center for the year ended
December 31, 1977 listed in the foregoing table of co�tents. Our exam-
ination was made in accordance with generally accepted auditing standards,
and accordingly included such tests of the acco��nting records and such
other auditing procedures as we considered necessary in �he circum-
stances.
In our opinio�, the aforementioned financial statements present
fairly the financial positio� of the various funds and account groups of
the City of Brooklyn Center at December 31, 1977, and thz results of
operations of such funds and th� changes in financial poaitio� of the
Public Utility Fund and Municipal Liquor Fund for the year then ended,
in conformity with generally accepted accounting principles applied o�
a basis co�sistent with that of the preceding year.
Respectfully submitted,
MOEN PENTTILA, LTD.
Field work completed Jun° 23, 1978.
Report signed June 28, 1978.
-17-
Exhibit 1
COMPARATNE COMBINED BALANCE SHEET
ALL FUNDS AND ACCOUNT GROUPS
(CONDENSED FORM)
DECEMBER 3]., 1977
i
City of Brooklyn Center Exhibit 1
COMBLNED BALANCE SHEET ALL FUNDS AND ACCOUNT GROUPS (CONDENSED FORM)
December 31, 1977
Special Debt Capital Public Enter- Trust and Special General General
Total (Memo- General Revenue Service Projects prise Funds Agency Funds Assessment Fixed Debt
randum only, Fund Funds Funds Funda (Exhibit 12 (Exhibit 21 Funds Asseta Group and Interest
See Note 2) (Exhibit 3) (Exhibit 6) (Exhibit 8) .(Exhibit 10) Exhibit 15) Exhibit 24) (Exhibit 27) (Exhibit 31) (Exhibit 32)
Assets and Resources
Cash on hand and in depositories 86, 882 12, 045 3, 551 71, 286
Temporary investments 10, 159, 729 1, 157, 614 $519, 249 $267, 945 $2, 079, 382 3, 737, 592 267, 977 $2, 129, 970
Accounta receivable 99, 192 14, 581 83, 308 1, 303
Taxea receivable iSchedule 1) 269. 971 199, 669 41, 881 28, 421
Due from other funds 145, 725 55, 966 603 75, 000 14, 156
Due fram other gwernmental units 740.473 53, 541 56. 161 370, 724 256, 596 2, 012 1, 439
Inventories and supplies 230, 812 31, 750 199, 062
1 Work orders/construction in progress 613 613
N
Accrued revenue 287, 823 84, 013 203, 810
1
Special assessment recefvablee 3, 835, 620 126, 734 3. 708, 886
Securities held for inveatment (Schedule 3) 10, 887, ff66 75, 000 10, 812, 6B6
Prepaid expeneea and deferred charges 72,180 49,149 23,031
Fixed aeseta (net of depreciatior, where
applicable) 25, 605, 335 10, 143, 246 $15, 462, 089
Unaesessed constructiai 300, 150 300, 150
Amount available general debt and tnterest 310, 429 310, 429
Amount to be provided general debt and
intereat 3, 529, ?48 3, 529, 748
I Totala $58, 562, 348 1, 525, 779 $575, 410 �310, 429 $2, 450, 106 $14, 833, 251 �11, 400, 328 $6, 184, 779 $15, 462, 089 $8, 840, 177
r� �r rr r� r i■w �w r �r w w�r
Liabilities
Vouchers and accounts payable 170, 057 62, 648 82. 040 11, 365 14, 004
Accrued sales tax 10, 344 10, 344
Accrued expenses 1, 025, 816 80, 896 79, 185 821, 929 43, 806
Contracts payable 28,108 28,108
Assessments payable 196, 582 196, 582
Due to other funds 145, 725 832 8, 230 40, 455 2, T13 93, 495
Temporary construction loans and advances 316, 000 316, 000
Bonds payable (Schedule 2) 7, 015, 000 625, 000 3, 845, 000 2, 545. 000
Interest payable in future years (general debt) 1, 098, 595 1, 098, 595
Due flinds participating in investment trust fund 10, 158, 315 10, 158, 315
Customer and contractor deposits 31, 163 675 30, 488
Total Liabilities $20, 195, 705 144, 376 8, 230 837, 699 $il, 024, 810 $4, 340, 413 $3, 840, 177
N
1
Surplus, Aeserves and Fund Balances
Surplus and reserves set aside 4, 113, 383 29, 529 $184, 540 $1, 519, 856 2, 242, 735 136, 723
Contributed surplus 9, 843, 972 9, 843, 972
Investment in general fixed assets 15, 462, 089 $15, 462, 089
Unexpended appropriations, authoriza-
tions and balances 6, 947, 199 1, 351, 874 382, 640 310, 429 930, 250 1, 908, 845 375, 518 1, 687, 643
Total Surplus, Reserves and
Fund Balancea $36, 366, 643 $1, 381, 403 $567, 180 $310, 429 $2, 450, 106 $13, 995, 552 375, 518 $1, 824, 366 $15, 462, 089
Totals $56, 562, 348 $1, 525, 779 $575, 410 $310, 429 $2, 450, 106 $14. 833, 251 $11, 400, 328 $6, 164, 779 $15, 462, 089 $3, 840, 177
(See notes to financial statements)
I
This statement is an integral part of report dated June 23, 1978.
City of Brooklyn Center Exhibit 2
COMPAR-�TI�'E COh4BII�ED STATEMENT OF REVENUE EXPENDITURES AND ENCUMBRANCES
General and Special Revenue Funds
Federal
Park Revenue Eliminations I
General Concessions Sharing and
Combined Statement
Fund Fund Fund Total Adjustments 1977 1976
Revenues and Transfers
Ad valorem taxes $1, 527, O10 1, 527, O10
$1, 527, 010 $1, 274, 322
Shared taxes 999, 309 $215, 067 1. 224, 376 1, 214, 376 1, 122, 263
Charges for services 292, 891 1, 423 294, 314 294, 314 296, 382
Inter-f�nd charges 50, 127 50, 127 50, 127 27, 762
Licenses and permits 131, 107 131, 107 131, 107 102, 339
Court fines 54, 420 54, 420 54, 420 48, 475
Other income 233, 160 35, 756 268, 916 268, 916 214, 090
1
Transfers from other funds 291, 536 291, 536
$(166, 536) 125, 000 140, 000
1
Appropriation of fund balance 9, 815 9, 815 9, 815
Total $3, 589, 375 1, 423 $250, 823
$3, 841, 621 $(166, 536) $3, 675, 085 $3, 225, 633
Expenditures and Encumbrances
General government 764, 921 764, 921
764, 921 722, 116
Public safety and welfare 961, 851 961, 851 961, 851 849, 672
Public works 678, 905 678, 905 678, 905 692, 545
Community health services 50, 973 50, 973 50, 973 62, 014
Parke and recreation 639, 315 277 639, 592 639, 592 637, 583
Other $166,536 166,536 $(166,536) -0- 17,000
Total $3.095,965 277 t166.536 $3,262,778
$(16B, 536) $3. 096. 242 980. 930
(See notes to financial statementa)
�is stat� t is a�gral pa�f repo�ed Jun�, 197�
City of Brooklyn Center Schedule 1
COMPARATIVE COMBINED SCHEDULE OF TAXES RECEIVABLE BY FUNDS
I
Debt Capital Trust
General Service Projects and Agency 1977 1976
Taxes Receivable by Year Fund Funds Funds Funds Total Total
1970 53
19? 1 5, 253
1972 356 96 71 523 6, 711
1973 2, 789 920 498 4, 207 10, 145
1974 11, 464 3, 475 2, 454 17, 393 23, 645
1975 24, 430 5, 853 5, 036 35, 319 42, 610
,r 1976 18, 898 4, 486 2, 827 26, 211 193, 480
Delinquent Taxes Receivable 57, 937 14, 830 -0- 10, 886 83, 653 $281, 897
Current Taxes Receivable 141, 732 27, 051 17, 535 186, 318 -0-
I Taxes Receivable $199, 669 41, 881 -0- 28, 421 $269, 971 $281, 897
(Exhibit 3} (Exhibit 8) (Exhibit 10) (Exhibit 21) (Exhibit 1)
(See notes to financial state�nents)
This statement is an integral part of report dated June 23, 1978.
City of Brooklyn Center Schedule 2
COMBIA'ED SCHEDliLE OF BONDS PAYABLE
December 31, 1977
Date Date
I\TEREST of of B O N D S
Rate Dates Issue :�Iaturity Annual Payments Authorized Issued Retired Outstanding
General Obli�ation Bonds
Park Bonds #1 4.00�Jo 1/ 1 7/1 4/ 1/58 1/ 1/80 5, 000 (79-80) 100, 000 100, 000 90, 000 10, 000
Park Bonds #2 3. 60?'0 1/ 1 7/ 1 1158 1/ 1/ SO 5, 000 (79-80) 100, 000 100, 000 90, 000 10, 000
ParkBonds#3 4.30% 1/1 7i1 7/1/59 1/1/81 5,000 (79-81) 100,000 100,000 85,000 15,000
Park Bonds #4 4. 50'jo 1/ 1 7/ 1 4/ 1 J60 1/ 1/ 81 5, 000 (79-80) 100, 000 100, 000 8Q 000 20, 000
10, 000 (81)
1969 Building Improvement Bonds 6.50?'0 1/ 1 7/1 7/1/69 1/1/90 135, 000 (79) 2, 280, 000 2, 280, 000 680, 000 1, 600, 000
125,000 (80)
115,000 (81)
120,000 (82)
125,000 (83)
130,000 (84)
135,000 (85-86)
140,000 (87-88)
150, 000 (89-90)
LibraryBonds 3.80°jo 1/1 7/1 1/1/66 1/1/85 10,000 (79-85) 190,000 19Q000 120,000 7Q000
G. O. State Aid Bonds 6. 00�'0 3/ 1 9/ 1 9/ 1/70 3/1 /91 55, 000 (78-79) 1, 050, U00 1, �50, 00� 230, 000 820, 000
6.25qo 55,000 (80-81)
60,000 (82)
6.30qo 60, 000 (83)
6.40 jo 60. 000 (84)
6.50% 60,000 (85)
I 6.60% 60,000 (86)
6. 65% 60, 000 (87)
N 6.70'jo 60.000 (88)
N 6. 75% 60, 000 (89-91)
1 Total General Obligation Bonds 3, 920, 000 3, 920, 000 1, 375, 000 2, 545, 000
Public Utilities Revenue Bonds 3.90"Jo 1/1 7/1 7/1/63 1/1/93 35,000 (79-81)
40, 000 (82-85)
45,000 (88-93)
Total Public Utilities Revenue Bonds 1, 000, 000 1, 000, 000 375, 000 625, 000
Special Assessment Bonds
1958A ImprovementBonds 4.00% 1/1 7/1 4/1/58 1/1/79 25,000 (79) 530,000 530,000 505,000 25,000
1958BImprovementBonds 3.60"Ju 1(1 7/1 7/1(58 i�l(79 15,00� (79) 39U,U�0 390,000 375,000 15,000
1959A&BImprovementBonds 4.50yo 1/1 7/1 4/1/60 1/1181 30,000 (79) 630,000 630,000 565,000 65,000
30,000 (80)
15,000 (81)
1960 AB Improvement Bonds 3. 00°jo 1/ 1 7/ 1 12/ 1/60 1/ 1/81 30, 000 (79-81) 1, 653, 000 1, 653, 000 1, 428, 000 225, 000 I
4.20qo 7/1�61 45,OOU (79-81)
1981ABImprwementBonds 3.75% 1/1 7/1 4/1/62 1/1/82 30,000 (79-82) 1,025.000 1,025,000 785,000 240,000
3.60°fo 1/1/63 1/1/84 20,000 (79)
3.70°Jo 20, 000 (80-84)
1964 Improvement Bonds 3. 50"Jo 1/ 1 7/ 1 10/ 1164 1/ 1/85 30, 000 (79-80) 636, 000 636, 000 481, 000 155, 000 j
3. 60°fo 20, 000 {81-84)
15,000 (85)
1965 Improvement Bonds 3. 80qo 1/ 1 7/ 1 1/1/66 1/ 1/86 10, 000 (79-86) 345, 000 345, 000 265, 000 80, 000
1968 Improvement Bonds 4.50yo 1/1 7/1 4/1/68 1/1/88 30, 000 (79-81) 750, 000 750, 000 510, 000 240, 000
a.soqa i/i �/i 4!i/sa i/i/ss so,000 (�s-si)
a. 7oqo so, o0o cs2-as) I
20,000 (84-85)
4. 80^fo 2Q 000 (56-87)
1Q 000 (88)
1969 Improvement Bonds 6.50qo 1/1 7/1 7/1/69 1/1/89 25,000 (79-85) 755,000 755,000 500,000 255,00� I
20, 000 (86-89)
I
1970 A Improvement Bonds 6. 00?0 1/ 1 7/ 1 7/ 1/70 1/ 1/90 a 125, 000 (79) a 2, 290, 000 2, 290, 000 1, 210, 000 1, 080, 000 I
6.25% 125,000 (80-82)
6.30% 125,000 (83)
6.40"/0 125, 000 (84) I
6.50% 125,000 (85)
6.60°Jo 125.000 (86)
6, 65% 2Q 000 (87)
6.70°Jo 20.000 (88)
6.75% 20.000 (89-90)
1975ImprovementBonds 4.55% 1/1 7�1 4/1�73 1/1/85 50,000 (79) 745,000 745,000 260,000 485,000
4, gpoj 50, 000 (80)
4.65% 50,000 (81) I
4. 70^/0 50, 000 (82)
4.75% 50,000 (83)
g, gpoJ 50, 000 (84)
4. 875% 185, 000 (85)
1976ImprovementBonds 4.50% 2/1 8/1 11/1/76 2/1/91 80,000 (79) 980,000 980,000 980,000
4.75% 80,000 (80-82)
5.00°Jo 75, 000 (83)
70,000 (84)
65,000 (85-87)
5. 10°fo 60, 000 (88)
5. 20°Jo 60, 000 (89)
(V 5. 30°Jo 60, 000 (90)
W 5. 40°jo 60, 000 {91)
Total Special Assessment Bonds $10, 729, 000 $10, 729, 000 6, 884, 000 3, 845, 000
i Grand Total Bonds Payable (Exhibit 1) $15, 649, 000 $15, 649, 000 8, 634, 000 7, 015, 000
I
I
I
(See notes to financial atatements)
I
This etatement is an integral part of report dated June 23, 1978.
City of Brooklyn Center Schedule 3
SCHEDL'LE OF INVESTMENTS
December 31, 1977
Receipt or
Certification Interest Date of Par Unamortized Unamortized Book
Number Rate Maturity Value Premium Discount Value
Police Pension Fund
U. S. Treasury Notes 129481 8. 00"J 2-15-83 30, 000 30, 000
I Federal Land Bank Consolidated Bonds 181623M 7. 62;'0 7-21-80 100, 000 248 99, 752
Federal Land Bank Consolidated Bonds 183119M 8. 10?'0 7-22-85 100, 000 100, 000
Federal Home Loan Bank Notes 190583M 7. 75"/0 11-25-80 100, 000 100, 000
Federal Home Loan Bank Notes 126173 8. 625% 2-25-82 30, 000 30, 000
Federa] Home Loan Bank Notes 127711 8. lOqo i1-25-85 lOQ 000 100, 000
Federal Home Loan Bank Notes 5638M 7. 75% 2-15-80 25, 000 14 24, 986
Federal National Mortgage Association Debentures 140239 7. 13�'0 3-10-81 25, 000 50 24, 950
Federal National Mortgage Association Debentures 109559 7. 12% 6-10-92 30, 000 123 29, 877
Federal National Mortgage Association Debentures 131567 8. 10% 6-10-83 150, 000 150, 000
Federal National Mortgage Association Debentures 134279 6. 45% 12-10-81 85, 000 85, 000
Federal National Mortgage Association Debentures 134375 6. 39% 12-11-78 35, 090 106 35, 106
Federal National Mortgage Association Debentures 130260 6. 55°�0 12-10-79 10, 000 10, 000
Federal National Mortgage Association Debentuxes N/A 6.03% 6-10-82 35, 000 726 35, 726
Federal National Mortgage Association Debentures 134070 6. 90"j 12-10-84 30, 000 163 30, 163
Total Investmenta (Exhibit 21) 885, 000 995 435 885, 560
Public Utilities Fund
U.S. Treasury Notes (Exhibit 15) 46387 4. 25% 8-15-92 75, 090 75, 000
Investment Truat Fund
Certificate of Deposit Marquette National Bank 85MN211229 7. 10"J 9-5-78 255, 000 255, 000
Certificate of Deposit First Plyxnouth State Bank 1266 7. 70"/0 2-27-78 100, 000 100, 000
Ninety Day Demand Accounts, Twin City Federal 9227000374 6. 50"Jo 6-28-78 100, 000 100, 000
Ninety Demand Accounts Hennepin Federal 057-000337. 8 8. 00"jo 6-3-78 100, 000 100, 000
Ninety Day Demand Accounts Midwest Federal 10-106602-5 6.50"fo 6-6-78 100, 000 100, 000
N U. S. Treasury Notes 129481 8. OO�o 2-15-83 120, 000 120, 000
Federal Land Bank Bonds 186349 7. 80yo 1-20-82 325, 000 3, 304 3�1, 696
Federal Land Bank Bonds 183103 8. lOqo 7-22-85 200, 000 200, 000
Federal Land Bank Bonds 237645 6. 80qo 10-19-78 100, 0�� 100, 000
Federal Land Bank Bonds 224511 6. 05qo 1-22-79 200, 000 200, 000
Federal Land Bank Bonds 233002 7. 25% 7-20-87 500, 000 3, 095 496, 905
Federal Land Bank Bonds 207670 7. 25% 7-20-87 500, 000 3, 095 496, 905
Federal Home Loan Bank Discount Notes 245342 6. 20"/ 3-20-78 400, 000 5, 766 394, 234
Federal Home Loan Bank Bonds 126173 8. 625% 2-25-82 230, 000 230, 000
Federal Home Loan Bank Bonds 127711 8. 10% 11-25-55 300, 000 100, 000
Federal Home I,oan Bank Bonds 23N252 6. 65% 5-27-80 500, 000 500, 000
Federal Home Loan Bank Bonds 127710 7. 75% 11-25-SO 275, 000 275, 000
Federal Iiome Loan Bank Bonds 253828 7. 75qo 11-25-80 160, 000 160, 000
Federal Home Loan Bank Bonds 230296 7. 65% 5-26-87 500, 000 500, 000
Federal Intermediate Credit Bank 253581 7.30"J 2-1-79 300, 000 300, 000
Federal Intermediate Credit Bank 240957 6. 90"J 9-5-78 310, 000 310, 000
Federal Intermediate Credit Bank 211256 6. 90% 9-5-78 145, 000 145, 000
Bank for Coop Bond6 240858 6. 75% 6-1-78 360, 000 360, 000
Bank for Coop Bonda 126888 8. 55% 10-2-78 250, 000 250, 000
Federal National Mortgage Association Debentures 131565 7.45% 9-11-78 150, 000 150, 000
Federal National Mortgage Association Debentures 195232 8.75°jo 9-10-80 '100, 000 135 200, 135
Federal National Mortgage Association Debentures 54426 6. 60"/0 12-10-80 110, 000 110, 000
Federal National MoMgage Association Debentures 127967 8. 00"Jo 12-10-80 200, 000 514 199, 486
Federal National Mortgage Association Debentures 131566 7. 95% 6-10-81 150, 000 150, 000
Federal NIational Mortgage Association Debentures 134279 6.45% 12-10-81 610, 000 610, 000
Federal National Mortgage Assoctation Debentures 127260 8. 60% 10- i 1-82 250, 000 250, 000
Federal National Mortgage Aasociation Debentures 131567 8. 10°Jo 6-10-83 50, 000 50, 000
Federal National Mortgage Association Debentures 127968 8.00% 12-12-83 200, 000 523 199, 477
Federal National Mortgage Aasociation Debentures 124776 8.40"J 12-12-83 200, 000 93 199, 907
Federal National Mortgage Asaociation Debentures 125330 7. 35% 4-10-84 500, 000 1, 981 498, 019
Federal �Tational Mortgage Aasociation Debentures 125331 8.20"Jo 7-10-84 380, 000 431 379, 569
Federal National Mortgage Association Debentures 225559 8. 20"Jo 7-10-89 50Q 000 227 499, 773
CitY of Brooklyn Center Temporary Improvement Notes 6. �Oqo Various 316, 000 316, 000
Total Investmenta (Exhibit 24) 9. 946, 000 135 19, 0'l9 9, 927, 306
Grand Total Inveatments (Exhibit 1) $10, 906, 000 1, 130 19, 484 $1 0, 887, 666
THE GENERAL FUND
The General Fund acco�mts for all revenues and expenditures of a 17overn-
mental unit wllich are not accounted for in other funds, and it is usu,illy
the largest and 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 finance a wider range of activities than
any other fund. Most of the cunent operations of governmental units will
be financed from this fund.
City of Brooklyn Center Exhibit 3
General Fund
COMPARATIVE BALANCE SHEET
December 31,
ASSETS 1977 1976
Cash on hand and in depositories 12, 045 9, 170
Temporary investments (Exhibit 26) 1, 157, 614 696, 356
Due from other funds 55, 966 61, 420
Accounts receivable 14, 581 24, 442
`Taxes receivable (Schedule 1) 199, 669 203, 017
Due from other governmental units 53, 541 22, 353
Inventory of supplies 31, 750 27, 591
Work orders in progress to be billed 613 646
Total $1, 525, 779 $1, 044, 995
LIABILITIES, RESERVES AND FUND BALANCE
1 Liabilities
Vouchers payable 62, 648 49, 277
1 Accrued salaries and withholdings 80, 896 80, 644
Due to other funds 832 2, 776
1 Total Liabilities 144, 376 132, 697
Reserves
Reserve for encumbrances 29, 529 44, 019
Total Reserves 29, 529 44, 019
Fund Balance
Appropriated for 1978 and 1977 budgets -0- 9, 815
Available for appropriation 1, 351, 874 858, 464
Total Fund Balance (Exhibit 4) $1, 351, 874 868, 279
Total $1, 525, 779 $1, 044, 995
(Exhibit 1)
(See notes to financLal statements)
This statement is an integral part o£ report dated June 23, 1978.
-25-
City of Brooklyn Center Exhibit 4
Generai Fund
COMPAR.ATNE STATEMENT OF CHANGES IN FUND BALANCE
1977 1976
Fund Balance, January 1 868, 279 629, 104
Add: Revenue (Exhibit 5) $3, �88, 024 $2, 848, 213
Transfers-in (Exhibit 5) 301, 351 351, 244
Total Additions $3, 589, 375 $3, 199, 457
Deduct: Expenditures and encumbrances
(Exhibit 5) $3, 095, 965 $2, 960, 282
Appropriated current year
budget 9, 815 -0-
Total Deductions $3, 105, 780 $2, 960, 282
Fund Balance December 31, (Exhibit 3) $1, 351, 874 868, 279
(See notes to financial statements)
This statement is an integral part of report dated June 23, 1978.
-26-
City of Brooklyn Center Exhibit 5
Gen�ral Fund
COMPAR,ATIVE STATEMENT OF REVENUES, APPROPRIATIONS FROM
FUND BALANCE, EXPENDITURES, ENCUMBR,ANCES AND
TRANSFERS
1977
A ctual
�mended Over (Under) 1976
Budget Actual Budget Actual
Revenues (Schedule 5-A
Ad Valorem taxes $1, 477, 797 $1, 527, O10 49, 213 $1, 274, 322
Shared taxes 999, 309 999, 3Q9 -0- 925, 058
Charges for services 298, 5�5 292, 891 5, 654) 292, 842
Inter-fund charges 45, 813 50, 127 4, 314 27, 762
Licenses and permits 92, 000 131, 107 39, 107 102, 339
Court fines 45, 000 54, 420 9, 420 48, 475
Other income 158, 943 �33, 160 ?4, 217 177, 415
Total Revenues $3, 117, 407 $3, 2$8, 024 170, 617 $2, 848, 213
Transfers from other funds 315, 957 291, 536 24, 421) 351, 244
Appropriations from fund
balance 9, 815 9, 815 -0- -0-
Total $3, 443, 179 $3, 589, 375 146, 196 $3, 199, 457
Expenditures and Encumbrances
(Schedule 5-B)
General government 863, 0�2 764, 921 98, 081) 722, 116
Public safety and welfare 979, 866 961, 851 18, 015) 849, 672
Public works 781, 901 678, 905 (102, 996) 692, 545
Community health services 74, 419 50, 973 23, 446) 62, 014
Parks and recreation 692, 877 639, 315 53, 562) 633, 935
Other 51, 114 51, 114)
Total $3, 443, 179 $3, 095, 965 $(347, 214) $2, 960, 282
Excess of revenues, trans-
fers-in and appropriations
from fund balance over
expenditures, encumbrances
and transfers-out -0- 493, 410 493, 410 239, 175
1 (See notes to financial statements)
This statement is an integral part of report dated June 23, 1978.
-27-
City of Brooklyn Center Schedule 5-A
Gencr.il Fund
STATEMENT OF REV�NU� BUDGIi'i' ANll r1Ci'UAL OBJECTIVE CLASSIFICATIDN
Actual
Final Over (Under)
Budget Actual Budget
Ad Valorem Taxes
Real eatats taxes al, 462, 797 1, 461, 606 a( 1. 191)
pe�}alttes and interest on tax bills 15, 000 65, 404 50. 404
Total Ad Valorem Taxes $1, 477, 7D7 $1, 527, O10 S 49, 213
3hared Taxee'
GOXetstmental Aids per 1973 Minnesota legislature 999, 309 9�39, 309 S -0-
Char�ea for Services
REcreation a 287, 545 275. 867 S( I1, 878)
Sa1e of maps 300 426 126
Zantng and platting fees 2. 000 2, 109 109
$t}rglar and �lre alarm aervice 3, 000 3, 720 720
Weed cutting 1. 000 831 169)
AQeessment aearchea 1. 700 3, 552 1. 852
Clthe� chargea 3, 000 6, 386 3, 386
Total Char�es for Services 3 298, 545 292, 891 5, 654)
Inter.Fu�d CharQes
E�g(,nee�ing,' clerical and labor a 25. 000 29, 355 4. 355
�ttblie utili�ies (administration) 20, 813 20, 772 41)
Total Inter-Fund Charges a 45, 813 50, 127 3 4. 314
Licenae$ and Pe�mits
�,,iquor and beer a 33, 000 62. 135 29, 13S
Sutldiog permits 18. 000 24. 312 6. 312
Rental dwelling licenses 4. 500 B, 811 2. 911
l�oQ,permiks 7. 500 4, 893 2, 609)
�leictrtcal permits 7. 000 8, 533 1, 533
Fisating permits 6. 000 6, 293 293
�lumbing permits 3. 400 4, 346 948
�'opo l[cenae 3, 000 3, 200 200
Sqwer and water permits 2. 000 2, 420 420
YehiCie licenses 900 1, 013 113
�leating licensea 1, 200 1, 156 44)
Cigarette licensea 900 1, 106 208
Si�n permit� 900 865 SS)
Swi�nxni�g pool licenses 1, 100 1, 394 294
1Niiscellanec�ua business licenses 500 496 4),
CiArbage 600 626 Z8
$e�vtce station 700 567 133)
Taxicab ltcensea 500 500 -0-
Bowling alleys 130 170 40
At,l other �icenses and permits 170 271 101
Total Licenses and Permits 92, 000 131. 107 a•39. 107
Court Fines
Coats ar�d fees 45, 000 54, 420 a 9, 420
Other Income
Rental of property 8, 000 9, 337 s 1. S37
Crranta 135, 082 159, 126 24. 044
�ivil dePense reimbursementa 13, 852 10, 046 3. 806)
Interest on temporary income -0- 43, 268 43. 268
Mtacellaneous 1, 984 11. 358 9. 374
Gifta 25 25
TOkal Other Income 158, 943 233, 160 a 74, 217
'j'ranefera from Other i'unds
Federal revenue sharing fund (Lxhibit 7) 188, 833 162, 412 s( 2l.421)
Llquor Fund (FxhiMt 3) 125, 000 125, 000 -0-
Anti-Recasaton Fund 4, 124 4, 124 -0-
-'I'otal Transfers from Other Funds 315, 957 291, 536 24, 421)
Tranefer frqm Fund Balance 9, 815 9, 815 s -0-
Total �evenues. Transfer� and Appropriations (Exhibit 5) $3, 443, 179 $3, 589, 375 a146, 196
(See �otes to financial stltemente)
Thie state,ment ia un integral �art of report datsd June 23, 1�J7$.
-as-
r
City of Brooklyn Center Schedule 5-B
General Fund
COMPARATIVE STATEMENT OF EXPENDITURES AND ENCUMBRANCES BUDGET AND
ACTUAL CLASSIFIED AS TO ACTIVITY, CHARACTER AND OBJECT
1977
1977 1976 Expenditures and Encumbrances Classified by Character and Object
Amended Expenditurea and Over (Under) Expenditures and Personal Contracted Capital
Budget Encumbrances Budget Encumbrances Service Service Commodities Other Outlays
General Government
Mayor and council 57, 940 44, 575 13, 365) 32, 436 17, 341 16, 079 11, 155
Elections and voter registration 6, 896 5, 638 1, 258) 7, 643 2, 635 2, 650 5 348
Administrative office 312, 737 279, 349 33, 388) 220, 048 278, 752 73, 352 7, 650 7, 804 il, 792
Aasessor's office 55, 927 53, 024 2, 903) 52, 076 47, 314 5, 044 281 165 220
Accounting and internal audit 90, 983 86, 278 4, 705) 90, 749 65, 530 20, 440 80 228
Independent audit 15, 347 15, 346 i) 15, 622 15, 346
Legal 45, 850 46, 335 485 70, 389 45, 117 1, 021 197
Charter commission 1, 500 126 1, 374) 1, 273 73 53
General government building 275, 822 234, 250 41, 572) 231, 880 115, 700 96, 122 8, 518 13, 910
Total General Government 863, 002 764, 921 98, 081) 722, il6 427, 272 $274, 222 17, 528 19, 401 26, 498
Public Safety and Welfare I
Police protection 761, 828 754, 263 7, 565) 698, 834 666, 008 12, 770 11, 720 16, 375 27, 390
Fire protection 83, 654 83, 791 137 49, 379 39, 082 1, 923 3, 090 4, 836 34, 860
Protective inspection 93, 900 87, 906 5, 994) 73, 121 77, 361 7, 675 574 350 1, 946 I
Civil Defense 29, 234 26, 070 3, 164) 19, 256 15, 132 3, 161 116 114 7, 547
Anima3 control 10, 500 9, 324 1, 276) 8, 457 9, 324
Weed eradication 750 497 253) 625 497 l
Total Public Safety and Welfare 979, 866 961, 851 18, 015) 849, 672 817, 583 35, 350 15, 500 Z 1, 675 71, 743
Public Works
Engineering department 163, 926 141, 816 22, 110) 138, 190 137, 785 899 1, 829 263 1, 040
Street department 349, 321 286, 919 62, 402) 313, 621 I84, 432 534 81, 497 52 20, 404
Maintenance shop 172, 990 163, 210 9, 780) 162, 682 59, 832 20, 092 79, 612 3, 674
Street and traffic lighting 95, 664 86, 960 8, 704) 78, 052 86, 960
Total Public Works 781, 901 678, 905 $(102, 996) 692, 545 382, 049 $108, 485 $162, 938 315 25, 118
Community Health Services
Health regulation 24, 000 21, 716 2, 284) 20, 823 21, 716
Nursing service 23, 919 9, 878 14, 041) 18, 477 9, 878
Detached worker program 26, 500 19, 379 7, 121) 22, 714 19, 379
Total Community Health Servicea 74, 419 50, 973 23, 446) 62, 014 50, 973
Parks and Recreation
Supervision and recreation 107, 530 104, 455 3, 075) 105, 838 87, 746 13, 839 2, 237 400 233
Adult programs 62, 590 63, 786 1, 196 48, 651 1, 448 48, 926 13, 412
Teen programs 11, 700 9, 135 2, 565) 11, 578 4, 705 3, 670 760
Children's programs 38, 705 30, 594 8, 111) 41, 486 16, 185 9, 113 5, 296
General programs 33, 785 25, 585 S, 200) 34, 194 12, 662 12, 423 500
Community center 132, 500 130, 283 2, 217) 133, 773 82, 115 4, 545 19, 788 20, 804 3, 031
Park maintenance and improvement program 306, 067 275, 477 30, 590) 258, 415 157, 282 10, 124 29, 251 1, 310 77, 510
Total Parks and Recreation 692, 877 639, 315 53, 562) 633, 935 362, 143 $102, 640 71, 244 22, 514 80, 774
Other
Contingency appropriation 51, 214 51, 114)
I Total Expenditures and En $3, 443, 179 $3, 095, 965 $(347, 214) $2, 960, 282 $1, 989, 047 $571, 670 $267, 210 63, 905 $204, 133
(Exhibit
I
(See notes to financial statements)
I This statement is an integral part of report dated June 23, 1978.
I
SPECIAL REVENUE FUNDS
SPECIAL REVENUE FUNDS
Special Revenue Funds are used to account for revenues derived from
specific taxes or other earmarked revenue sources. They are usually re-
quired by statute, charter provision, or local ordinance to �nance parti-
cular functions or activities of government.
City of Brooklyn Center Exhibit 6
Special Revenue Funds
COMPARATIVE COMBINED BALANCE SHEET
Anti-
Park Federal Recession Combi.ned Statement
Concessions Revenue Sharing Fiscal Aid December 31,
Fund Fund Fund 1977 1976
ASSETS
Temporary investments (Exhibit 26) $517, 814 1, 435 $519, 249 $469, 199
Due from other governmental units 56, 161 56, 161 50, 701
Invent ory g 7
Totals -J- $573, 975 1, 435 $575, 410 $520, 857
LIABILITIES AND FUND BALANCE
0
Vouchers payable 1, 543
Due to other funds 8, 230 8, 230 37, 567
Total Liabilities -0- 8, 230 -0- 8, 230 39, 110
Fund Balance
Appropriated fund balance $184, 540 $184, 5�40 $186, 833
Fund balance (deficit) (Exhibit 7) 381, 205 1, 435 $382, 640 294, 914
Total Fund Balance -0- $565, 745 1, 435 $567, 180 $481, 747
Totals -0- $573, 975 1, 435 $575, 410 $520, 857
(See notes to financial statements)
This statement is an integral part of report dated June 23, 1978.
C ity of Brooklyn Center Exhibit 7
Special Revenue Funds
COMPARATIVE COMBINED STATEMENT OF REVENUES, EXPENDITURES
AND FUND BALANCE
Anti-
Park Federal Recession Combined Statement
Concessions Revenue Sharing Fiscal Aid December 31,
Fund Fund Fund 1977 1976
Revenu�s
Federal revenue sharing grants $209, 508 5, 559 $215, 067 $197, 205
In±erest earnings 35, 756 35, 756 36, 675
Concession receipts 1, 423 1, 423 3, 540
Total Revenues 1, 423 $245, 264 5, 559 $252, 246 $237, 420
Expenditures
Purchases for resale 277 277 3, 648
Transfers to General Fund (Schedule 5.A) $162, 412 4, 124 165, 536 211, 24�
w Transfer to Capital Projects Fund 17, 000
Total Expenditures and Transfers 277 $162, 412 4, 124 $165, 813 $231, 892
Excess (Deficiency� o.f Revenue Over
Expenditures and Transfers to Fund Balance 1, 146 82, 852 1, 435 85, 433 5, 528
Fund Balance (Deficit) January 1 1, 146) 296, 060 -0- 294, 914 301, 965
Appropriated by Council Resolution 2, 293 2, 293 12, 579)
Fund Balance December 31 (Exhibit 6) -0- $381, 205 1, �35 $382, 640 $294, 914
(See notes to financial statements)
This statement is an integral part of report dated June 23, 1978.
r� r�� r�■� rr w� ���w r�■� r� rr r
DEBT SERVICE FUNDS
DEBT SERVICE FUNDS
Debt Service Funds are created to account for the payment of interest
and principal on long-term, general obligation debt other than that payable
from special assessments and debt issued for and serviced primarily by a
governmental enterprise.
�s r
City of Brooklyn Center Exhibit 8
Debt Service Funds
COMPARATIVE COMBINED BALANCE SHEET
State Aid Improvement Combined Statement
Park Library Street Building December 31,
ASSETS Bonds Bonds Bonds Bonds 1977 1976
Cash on hand and in depositories 9� 277
Temporary investments (Exhibit 26) 81, 844 95, 973 90, 128 $267, 945 235, 064
Due from other funds 136 467 603
Due from other governmental units 1
Taxes receivable (Schedule 1) 3, 674 38, 207 41, 881 50, 120
Totals 35, 654 95, 973 -0- $128, 802
$310, 429 $?94, 462
FUND BALANCE
Fund balance (Elhibit 9) 85, 654 95, 973 -0- $128, 802 $310, 429 $294, 462
Totals 85, 654 95, 973 -0- $128, 802
$310, 429 $�94, 462
(Exhibit 1)
(See notes to financial statements)
This statement is an integral part of report dated June 23, 1978.
City of Brooklyn Center Exhibit 9
Debt Service Funds
COMPARATIVE COMBINED STATEMENT OF REVENUES, EXPENDITURES,
AND FUl�?D BALANCES
State Aid Improvement
Park Library Street Building Combined Statement i
Bonds Bonds Bonds Bonds 1977 1976
Revenues and Transfers-in
Real estate taxes 24, 487 $254, 466 $278, 953 $299, 936
Interest earnings 5, 464 174 5, 035 17, 673 15, 558
State aid allotn�ent 26, 850 26, 850 26, 850
Transfer from municipal State
Aid Capital Projects Fund
(Exhibit 11) 81, 595 81, 595 86, 087
Sale of City property 9, 277
Total Revenues and Transfers-In 29, 951 7, 174 $108, 445 $259, 501 $405, 071 $437, 708
w
i' Expenditures and Transfers-Out
Principal payments 20, 000 10, 000 55, 000 $130, 000 �215, 000 $225, 000
Interest payments 3, 125 3, 040 54, 515 112, 450 173, 130 186, 730
Fiscal agent fees 94 23 103 444 664 809
Other expenditures 39 271 310
Total Expenditures 23, 258 13, 063 $109, 618 $243, 165 $389, 104 $412, 539
Excess(Deficiency) of Revenues Over
Expenditures 6, 693 5, 889) 1, 173) 16, 336 1:5, 9.f7 25, �69
Fund Balance, January 1 78, 961 101, 862 1, :173 i 12, 466 294, 4B2 269., 293
Fund Balance, December 31 (Exhibits 8$ 85, 654 95, 973 -0- $128, 802 $310, 429 $294, 462
and 31)
(See notes to financial statements)
This statement is an integral part of report dated June 23, 1978.
CAPITAL PROJECTS FUNDS
CAPITAL PROJECTS FUNDS
Captial Projects Funds are created to account for all resources used for the
acquisition of capital facilities by a governmental unit except those finan-
ced by special assessment and enterprise funds.
City of Brooklyn Center Exhibit 10
Capital Projects Funds
COM1 ARATI\TE CUMBINED BALANCE SHEET
Open-Space Capital Municipal Combined Statement
Acquisition Projects State Aid for December 31,
Fund Fund Construction 1977 1976
ASSETS
Temporary investments (Exhibit 26) 5, 669 $325, 140 $1, 748, 573 $2, 079, 382 $1, 983, 850
Due from other governmental agencies 17, 950 5, 399 347, 375 370, 724 118, 535
Taxes receivable 53
Totals 23, 619 $330, 539 $2, 095, 948 $2, 450, 106 $2, 102, 438
LIABILITIES AND FUND BALANCE
w
Liabilities
Vouchers payable 1, 266
Contracts payable 2, 339
Due to other funds 12, 147
Total Liabilities -0- -0- -0- -0- 15, 752
Fund Balance (Exhibit 11) 23, 619 330, 539 2, 095, 948 2, 450, 106 2, 086, 686
Totals 23, 619 $330, 539 $2, 095, 948 $2, 450, 106 $2, 102, 438
(Exhibit 1)
(See notes to financial statements)
This statement is an integral part of report dated June 23, 1978.
City of Brooklyn Center Exhibit 11
Capital Projects Fund
COMPARATNE COMBINED STATEMENT OF APPROPRIATIONS, EXPENDITURES AND FUND BALANCES
Open-Space Capital Municipal Combined Statement
Acquisition Projects State Aid for December 31,
Fund Fund Construction 1977 1976
Fund Balance, January 1, 1977 and 1976 23, 374 $335, 029 $1, 728, 283 $2, 086, 686 $1, 755, 049
Add: Revenues
Intergovernmental:
U. S. Government grant 4, 000
State of Minnesota highways 333, 595 333, 595 273, 578
Local fi�unicipalities project participation 17, 000
Transfers-in from other funds:
Revenue sharing fund 17, 000
Interest earnings 284 21, 960 117, ?49 139, 993 149, 694
Total Revenues 23, 658 $356, 989 $2, 179, 627 $2, 560, 274 $2, 216, 321
Deduct; Expenditures
Construction:
Streets 2, 017 2, 017 32, 530
Parks and playgrounds 2, 699
Building improvements 26, 398 26, 398 8, 319
Transfers-out to other funds:
Debt service fund 81, 662 81, 662 86, 087
Other expenditures 39 52 91
Total Expenditures 39 26, 450 83, 679 110, 168 129, 635
Fund Balance
Unexpended (over expended) appropriations 3, 284 13, 000 16, 284 130, 704
Balance restricted to state approved projects 1, 503, 572 1, 503, 572 1, 270, 659
Unappropriated balance 23, 619 327, 255 579, 376 930, 250 685, 323
Fund Balance December 31, 1977 and 1976 23, 619 $330, 539 $2, 095, 948 $2, 450, 106 $2, 086, 686
(Exhibit 10)
(See notes to financial statements)
This statement is an integral part of report dated June 23, 1978.
r
ENTERPRISE FUNDS
Enterprise funds are established to account for the financing of self-sup-
porting activities of governmental units which render services on a user
charge basis to the general public. The most universal type of government
enterprise is the public utility engaged in the provision of such basic serv-
ices as water, �electricity, and natural gas. Sanitary sewer systems financed
by user charges have also assumed the status of public utility operations
in many urban areas, and many cities have combined water and sewer
systems under the same management. Another type of government enter-
prise in Minnesota is the Municipal Liquor operation.
City of Brooklyn Center Exhibit 12
Municipal Liquor Fund
COMPARATIVE BALANCE SHEET
December 31, December 31,
ASSETS 1977 1976 LIABILITIES AND RETAINED EARNINGS 1977 1976
Current Assets Current Liabilities
Cash on hand 3, 551 3, 700 Accounts payable 75, 225 59, 078
Accounts receivable 191 1, 947 Accrued sales taxes payable 8, 783 8, 000
Temporary investments (Exhibit 26) 47, 125 56, 756 Accrued salaries and wages 6, 867 6, 583
Due from other funds 12 Due to other funds 20, 085 1, 740
Merchandise inventory 182, 739' 132, 530 Total Current Liabilities $110, 960 $?5, 401
Prepaid expenses 2, 777 1, 307
Total Current Assets �236, 383 $196, 252 Reserve for Restricted Assets
Deferred gain arising from favorable settlement
Other Accounts Receivable of lawsuit against liquor wholesalers (Note 3) 7, 064 8, 314
Account receivable ariaing from favorable settlement
w of lawsuit against liquor wholesalers (Note 3) 7, 064 8, 314 Retained Earnings
O�
Retainedearnings(Exhibit 13) $161,064 $164,528
Property, Plant and Equipment I�
Fixtures and equipment 80, 576 79, 019
Land and leasehold improvements 33, 183 33, 183
$113,759 $112,202
Less: Accumulated allowances for depreciation
and amortization 78, 118 68, 525
Net Book Value of Properties 35, 641 43, 677
Total $279, 088 $248, 243 T otal $279, 088 $248, 243
(Exhibit 1) a-
(See notes to financial statementsj
This statement is an integral part of report dated June 23, 1978.
City of Brooklyn Center Exhibit 13
Municipal Liquor Fund
COMPARATIVE STATEMEN�r' OYr;1tHTIONS E�ND RETAINED EARNINGS
Humboldt Square Brooklyn Boulevard Northbrook Combined Statement
Store Store Store 1977 1976
Sales $481, 984 $648, 672 $812, 569 $1, 943, 225 $1, 928, 717
Less: Cost of Sales 389, 283 523, 885 663, 116 1, 576, 284 1, 557, 212
Gross Margin on Sales 92, 701 $124, 787 $149, 453 366, 941 371, 505
Operating Expenses
Salaries and wages 37, 577 49, 441 53, 953 140, 971 136, 742
Rent 17, 254 16, 430 33, 684 30, 125
Payroll taxes 3, 193 4, 662 5, 458 13, 313 12, 554
Utilities 4, 713 2, 641 4, 741 12, 095 11, 952
Depreciation and amortization 6, 766 249 2, 577 9, 592 11, 850
Insurance 3, 092 3, 457 3, 858 10, 407 6, 681
Supplies 1, 527 2, 387 2, 621 6, 535 6, 533
Equipment rent 1, 388 1, 869 2, 331 5, 588 2, 450
Repa irs and maintenance 495 1, 241 514 2, 250
Audit 512 511 511 1, 534 2, 335
Heating 480 1, 393 1, 257 3, 130 2, 032
Provision for uncollectible checks and cash short 318 477 587 1, 382 1, 907
w Laundry 332 490 428 1, 250 1, 575
v Protection services 476 455 569 1, 500 1, 410
Inventory variance and breakage 1, 083 1, 176 2, 731 4, 990 1, 192
Telephone 338 342 338 1,018 906
Advertising 169 169 169 507 580
Miscellaneous 112 199 123 434 36
Taxes and licenses 28 18 18 64 60
Total Operating Expenses 79, 853 71, 177 99, 214 250, 244 229, 920
Net Operating Income 12, 848 53, 610 50, 239 116, 697 141, 585
Interest and other income 1, 153 1, 720 1, 966 4, 839 5, 558
Net Income 14, 001 55, 330 52, 205 121, 536 147, 143
Transfers to General Fund (Schedule 5A) 125, 000) 140, 000)
Retained Earnings, January 1 164, 528 157, 385
Retained Earnings, December 31 (Exhibit 12) i61, 064 164, B28
(See notes to financial statements)
This statement is an integral part of report dated June 23, 1978.
City of Brooklyn Center Exhibit 14
Municipal Liquor Fund
COMPAR.ATIVE STATEMENT OF CHANGES IN FINANCIAL POSITION
Sources of Funds 1977 1976
Operations;
Net income for year (Exhibit 13) 121, 536 $147, 143
Add: Non-working capital charges against income:
Depreciation arid amortization 9, 592 11, 850
Working capital provided by operations 131, 128 $158, 993
Collection of other accounts receivable 3, 061 2, 772
Total Source of Funds 134, 189 $161, 765
Application of Funds
Purchase of properties 1, 556 193
Decrease in reser�ve for restricted assets 3, 061 2, 772
Increase in working capital 4, 572 18, 800
1 Transfer to General Fund (Exhibit 13) 125, 000 140, 000
Total Application of Funds 134, 189 Z61, 765
i
Analysis of Changes in Working Capital
Working
Capital
Beginning End Increase
of. Year of Year (Decrease)
1977
Current Assets $19�, 252 �236, 383 40, 131
Current Liabilities ?5, 401 110, 960 35, 559
Working Capital $120, 851 $125, 423 4, 572
1976
Current Assets $214, 539 $196, 252 18, 287)
Current Liabilities 112, 488 75, 401 37, 087
Working Capital $102, 051 $120, 851 18, 800
(See notes to financial statements)
This statement is an integral part of report dated June 23, 1978.
-38-
City of Brooklyn Center Exhibit 15
Public Utitities Fund
COMPAR.ATNE BALANCE SHEET
December 31, December 31,
ASSETS 1977 1976 LIABILITIES, RESERVES .AND RETAINED EARNINGS 1977 1976
Current Assets Current Liabilities
Temporary investments 250, 815 227, 058 Current portion of long term liabilitiea a 35, 000 a 35, 0��
Due from other funds T5, 000 76, 872 Vouchers and .accounta payable 6, 815 8, 992
Accounts receivable 76, 053 95, 320 Notes and contracts payable 30, 356
Accrued water and sewer revenues 84, 013 90, 786 Accrued salaries and expensea 72. 318 39, 252
Assessments receivable 6, 277 3, 980 Accrued sales taxes payable 1, 561 1, 748
Due from other governmental units current 17, 741 19, O16 Due to other funds 20, 370 9. 321
Prepaid supplies and expenses 62, 695 9, 145 Hydrant deposits 675 675
Total Current Assets 572, 594 a 522, 57? Total Current Liabilities 136.'39 125, 344
I Restricted and Other Assets Long Term Liabilities
Temporary investments a 3, 312. 880 3, 143, 599 Revenue bonds a 625, 000 660, 000
Due from other governmental units MWCC (Note 51 238, 855 249, 461 Less: Current portion of bonds payable 35, 000 35, 000
Debt retirement account (Schedule 3, Note 4) 136, 472 137, 154
Assessments receivable deferred 120.457 147, 463 Total Long Term Liabilities 590, 000 625, 000
Construction funds invested 65, 300 60, 930
R.eserves and Other Credits
Total Restricted and Other Aasets 3, 873, 964 3, 738, 607 Restricted for plant expansion a 1, 690, 408 1, 690, 408
Metro Waste Control Commission (Note 5) 249, 462 260, 067
Utility Plant in Service (Exhibit 2�) Debt retirement (Note 4) 136, 472 137, t54
niains and lines $10, 272, 186 $30, 224, 550 Construction funds (Note 4) 65, 300 60, 530
I Structures 1, 790, 759 1, 620, 674 Working capital 20, 000 20, 000
W Equipment 252, 210 Z50, 879 Deferred gafn on sale of assets 75, 551 78. 836
Land 23,621 23,621
Total Utility Plant $12, 338, 77B $12, 119, 724 Total Reserves and Other Credits 2, 237, 193 2.247, 395
Less: Accumulated depreciation 2, 270, 275 2. 099, 663
Contributions in Aid of Construction
Net Book Value of Utilitv Plant $10, 068, 501 $10, 020, O61 Contributions irom apecial assesamenta and
developera 9, 843, 972 9, 803, 872
Construction in Progress 39, 104 72, 146
Retained Earninga (Exhibit 16) 1, 746, 259 1, 551, 780
T otal �14.554, 163 14, 353, 391 T ot a l $14, 554, 163 $14.353, 391
(Exhibit 1)
(See notes to financial statementa)
This statement ia an integral part of report dated June 23. 1978.
City of Brooklyn Center Exhibit 16
Public Utilities Fund
COMPARATIVE STATEMENT OF OPERATIONS AND RETAINED EARNINGS
Combined Operations
Water Sewer Statement
Department Department 1977 1976
Operating Revenues
Service to consumers $412, 933 $433, 361 $846, 294 $942, 295
Service hookup charges 4, 828 4, 828 24, 141
Sale of water meters 7, 201 7, 201 7, 304
Penalties 6, 852 6, 852 6, 944
Other 4, 215 2, 540 6, 755 6, 472
Operating Revenues $436, 029 $435, 901 $871, 930 $987, 156
Operating Expenses (Exhibits 18 19)
Treatment and disposal $481, 884 $481, 884 $396, 396
Source of supply 78, 094 78, 094 84, 972
Transmission and distribution 25, 568 25, 568 37, 123
Collection 14, 637 14, 637 12, 692
Administration 61, 225 46, 739 1Q7, 964 106, 430
Customer accounti.ng 37, 981 15, 414 53, 395 73, 049
Depreciation lOQ, 036 70, 577 170, 613 172, 646
Operating Expenses $302, 904 $629, 25].'' $932, 155 $883, 308
Operating Income (Loss) $133, 125 $(193, 350) 60, 225) $103, 84$
Other Income and Expense
Interest income 273, 633 248, 118
Interest and fiscal agent fees 25, 848) 27, 218)
Other income 3, 243
Gain on disposition of equipment 28, 782
Net Income to Retained Earnings $187, 560 $356, ?73
Retained Earnings, January 1 1, 551, ?80 1, 179, 191
Transferred from the Reserves for:
Metro Waste Control Coxnmission 10, 606 13, 488
Debt Retirement 683 1, 365
Construction Fund 5, 211
Transferred to Reserves for
Construction Fund 4, 370) 4, 248)
Retained Earnings, December 31, (Exhibit 15 $1, 746, 259 $1, 551, ?80
(See notes to financial statements)
This statement is an integral part of report dated June 23, 1978.
0-
-4
C ity of Brooklyn Center Exhibit 17
Public Utilities Fund
COMPARATIVE STATEMENT OF CHANGES IN FINANCIAL POSITION
Sources 1977 1976
Operations:
Net income to retained earnings $187, 560 $356, 773
Add: Non-working capital charges m.�de to income
Depreciation (Exhibit 20) 170, 613 172, 646
Metro Waste Control Commission receivable
collected 10, 606 13, 488
Deduct: Non-working capital credits made to income
Amortization of deferred gain on sale of
assets 3, 285) 3, 285)
Gain on equipment retired 12, 403
Working Capital Provided by Operations $365, 494 $527, 219 i
Contributions in aid of construction 40, 100 -0-
Collection of assessments receivable 27, 006 3, 896
Debt retirement investments sold 682 1, 365
Construction investments sold 963
Total $433, 282 $533, 443
Applications
Investect in utility plant i.n service $186, 010 83, 802
Payments to retire bonds 35, 000 35, 000
Increased investments 169, 281 154, 187
Increase in working capital 38, 622 260, 454
Construction funds invested 4, 369
Total $433, 282 $533, 443
Analysis of Changes in Working Capital
Increase
End of Beginning (Decrease)
1977 Year of Year Working Capital
Current Assets $572, 594 $522, 577 50, 017
Current Liabilities 136, 739 125, 344 il, 395)
Working Capital $435, 855 $397, 233 38, 622
1976 1
Current Assets $522, 577 $323, 757 $198, 820
Current Liabilities 125, 344 186, 978 61, 634
Working Capital $397, 233 $136, 779 $260, 454 j
(See notes to financial statements)
This statement is an integral part of report dated June 23, 1978.
-41-
w� �w r w�
City of Brooklyn Center Exhibit 18
Public Utilities Fund
WATER DEPARTMENT COMPARATIVE OPERATING EXPENSES
Classification by Function
Source of Trans- Admini- Customer Combined Statement
Supply mission stration Accounting 1977 2976
Labor 12, 591 16, 937 24, 797 20, 315 74, 640 74, 898
Electricity 44, 057 44, 057 49, 282
i Repairs and maintenance 8, 560 5, 464 561 989 15, 574 30, 383
Meters for replacement 6, 140 6, 140 23, 189
Materials and supplies 10, 648 2, 233 2, 490 1, 112 16, 483 17, 407
Rent and administration 13, 686 13, 686 13, 143
Equipment rental 272 551 4, 556 3, 160 8, 539 9, 172
Payroll taxes 7, 362 7, 362 8, 211
Postage 195 6, 189 6, 384 6, 106
Professional fees 1, 453 1, 453 2, 257
insurance 2, 850 2, 850 2, 024
Employee benefits 161 2, 443 2, 604 1, 454
Fuel heating 1, 578 1, 578 1, 315
Printing 53 76 129 167
Schools and conferences 16 827 843 108
Uncollectible accounts 325)
Small tools and equipment 32 314 346 329
Dues.and subscriptions 200 200 250
Totals 78, 094 25, 568 61, 225 37, 981 $202, 868 $239, 370
(Exhibit 16)
(See notes to financial statements)
This statement is an integral part of report dated June 23, 1978.
I
i
City of Brooklyn Center Exhibit 19
Public Utilities Fund
SEWER DEPARTMENT COMPARATIVE OPERATING EXPENSES
Classification by Function
Disposal and Admini- Custozner Combined Statement
Pumping Collection stration Accounting 197? 1976
Metro Waste Control Commission
Charge (Note 5) $463, 610 $463, 610 $379, 030
Labor 9, 211 11, 667 16, 696 9, 119 46, 693 46, 231
Rent and administration 13, 686 13, 686 13, 143
Equipment rental 786 74 4, 273 3, 409 8, 542 8, 639
Electricity 7, 668 7, 668 8, 118
Payroll taxes 4, 605 4, 605 5, 120
c'�',, Repairs and maintenance 388 642 561 1, 591 2, 754
Professional fees 1, 453 1, 453 1, 828
Postage 2, 571 2, 571 1, 814
Materials and supplies 33 1, 791 2, 077 206 4, 10? 1, 732
Insurance 1, ?29 1, 729 1, 499
Employee benefits 1, 629 1, 629 944
Small tools and equipment 463 463 266
Printing 109 109 11
Fuel heating 188 188 163
Schools and conferences 30 30
Totals (Exhibit 16) $4$1, 884 14, 637 46, 739 15, 414 $558, 674 $471, 292
(See notes to financial statements)
This statement is an integral part of report dated June 23, 1978.
I
�w r r� �w r
r r r
City of Brooklyn Center Exhibit 20
Public Utilities Fund
STATEMENT OF UTILITY PLANT IN SERVICE AND ALLOWANCE
FOR DEPRECIATION
Utility Plant in Service Allowance for Depreciation
1/1/77 12/31/77 1/1/77 12/31/77 Depreciable
Balance Additions Balance Balance Additions Balance Life (Years)
Water Department
Mains and lines 5, 459, 715 27, 457 5, 487, 172 581, 497 54, 597 636, 094 100
Structures 1, 047, 485 170, 085 1, 217, 570 256, 375 34, 916 291, 291 30
Equipment 240, 850 1, 331 242, 181 138, 077 10, 523 148, 600 5, 10, 20, 25
Land 23, 071 23, 071 -0- -0-
Total Water
Department 6, 771, 121 $198, 873 6, 969, 994 975, 949 $100, 036 $1, 075, 985
Sewer Department
Mains and lines 4, 764, 834 20, 179 4, 785, 013 795, 620 47, 648 843, 268 100
Structures 573, 189 573, 189 318, 064 22, 929 340, 993 25
Equipment 10, 030 10, 030 10, 030 10, 030 5, 10, 20, 25
Land 550 550 -0- -0-
Total Sewer
Department 5, 348, 603 20, 179 5, 368, 782 $1, 123, 714 70, 577 $1, 194, 291
Totals $12, 119, 724 $219, 052 $12, 338, 776 $2, 099, 663 $170, 613 $2, 270, 276
(Exhibit 15) (Exhibit 15)
(See notes to fina.ncial statements)
This statement is an integral part of report dated June 23, 1978.
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 Brooklyn Center Exhibit 21
Trust and Agency Funds
COMBINED BAI.ANCE SHEET
A g e n c,y Truet
Fire Public
Housing and Department Employees Police Combined Statement
Redevelopment Relief Retirement Pension December 31,
Authority Asaociation Association Fund 1977 1976
ASSETS
Investments net of unamortized premiuma and
discounts (Schedule 3) 885,560 885,560 a 885,712
Temporary inveatmeats (Exhibit 26) f, 552 129 14, 811 252, 485 267, 977 116, 372
Accrued revenue 13, 399 13, 399 14, 997
Due from other funds 14, O60 96 14, 156 1, 038
Taxes receivable (Schedule 1) 5. 159 1, 321 17, 745 4, 1S6 28, 421 28, 707
Due from other governmental unita 2, 012 2, 012 1, 890
Total 7, 723 a 1, 450
a 46, 618 $1, 155, 736 1, 211, 525 $1, 048, 716
fP I I
j LL4BILITIES AND FUND BALANCE I
Liabilities
Accounts payable a 11.365
a 11, 365 a 27, 301
Due to other funds 2, 564 149
2, 713
TJue to other gover�mental unita -0- -0-
Principals balances (Exhibit 22) 5, 159 5, 159 I11
Accrued pension liabilities (Note 7) 821, 929 821, 929 746, 233
Total Liabilitiea 7, 723 149 11, 365 821, 929
841, 166 773, 645
Fund Balance (Exhibit 23) 1, 301 35, 251 333, 807 370, 359 275, 071
Total 7, 723 1, 450 46, 616
�1.155.736 $1.211,525
�(Exhibit 1)
(See notea to financial statements)
Thia statement is an integral part of repor dated June 23, 1978.
City of Brooklyn Center Exhibit 22
Trust and Agency Funds
COMPARATIVE COMBINED S'TATEMENT OF PRINCIPAL'S BALANCES
Agency
Housing and Redeveopment
Authority
1977 1976
Principals Balance, January 1 111
e ies for authorized ur oses 45, 132 35, 340
L v p p
Interest earnings 149 110
Disbursements to authorized principal 40, 233) 35, 339)
Principals Balance, December 31 (Exhibit 21) 5, 159 111
(See notes to financial statements)
This statement is an integral part of repflrt dated June 23, 1978.
-46-
City of Brooklyn Center Exhibit 23
Trust and Agency Funds
COMBIlVED STATEMENT OF REVENUES, EXPENDITURES AND FUND BALANCES
Public
Fire Depart- Employees Police
ment Relief Retirement Pension Combined Statement
Revenues Association Association Fund 1977 1976
Ad valorem levies 486 $125, 971 13, 684 $140, 141 $151, 596
Insurance premium rebate 37, 539 48, 311 85, 850 53, 648
Employee contribution 31, 260 31, 260 29, 010
Enterprise fund contributions 23, 245 23, 245 23, 353
Interest earnings 123 77, 006 77, 129 67, 199
Total Revenues 38, 148 $149, 216 $170, 261 $357, 625 $324, 806
Expenditures
City's contribution to:
Brooklyn Center Fire Relief Association 39, 214 39, 214 36, 614
Public Employees' Retirement Association $143, 927 143, 927 134, 857
Policemen's Pension 75, 696 75, 696 70, 250
Interest expense 1, 989 1, 989 1, 133
Professional fees 1, 205 1, 205 399
Miscellaneous 52 174 80 306 -0-
Total Expenditures 39, 266 $146, 090 76, 981 $262, 337 $243, 253
Excess (Deficiency)of Revenues over
Expenditures 1, 118) 3, 126 93, 280 95, 288 81, 553
Fund Balance, J anuary 1 2, 419 32, 125 240, 527 275, 071 193, 518
Fund Balance, December 31, (Exhibit 21) 1, 301 35, 251 $333, 807 $370, 359 $275, 071
(See notes to financial statements)
This statement is an integral part of report dated June 23, 1978.
it of Brookl Center Exhibit 24
C y yn
Investment Trust Fund
COMPARATIVE BALANCE SHEET
December 31,
ASSETS 1977 1976
Cash on hand and in depositories 71, 286 81, 598
Accrued interest receivable 190, 411 140, 470
Investments (Schedule 3) 9, 927, 106 8, 777, 562
Total Assets $10, 188, 803 8, 999, 630
LIABILITIES
Performance deposits 30, 470 25, 461
Unclaimed cash (law enforcement activities) 18 18
Due to other governmental units 34
Due participating funds 10, 158, 315 8, 974, 117
Total Liabilities $10, 188, 803 8, 999, 630 t
(Exhibit 1)
A
(See notes to financial statements)
This statement is an integral part of_ report dated June 23, 1978.
-48-
I
1
City of Brooklyn Center Exhibit 25
Investment Trust Fund
COMPARATTVE STATEMENT OF EARNINGS
197? 1976
Interest Income
United States Government and AgEncies $593, 144 $462, 386
Construction loans 10, 115 74, 313
Bank savings certificates 35, 535 56, 588
1 Total Interest Income $638, 794 $593, 287
Expenses
1�udit 939 924
To±al Expense 939 924
Net Income Distributed to Par�icipating Funds $637, 855 $592, 363
Ex lanation
P
The Investment Trust Fund was established in 1956 by Council action
to provide a uniform and consistent method of investing temporary surpluses
of cash. Net income of the Fund is distributed annually to each of the parti-
cipating funds on the basis of the average yearly investment maintained by
each fund. The net income and the effective rate of rzturn on average invest-
ment by participating funds is shown below by years.
Rate o.f Net
Year Return Income
1977 7. I1°�/ 637, 855
1976 6. 86 592, 363
1975 7. 15 554, 696
1974 7. 66 503, 710
1973 6. 63 391, 221
1972 6. 30 318, 828
1956-1971 2. 77 6. 66 1, 409, 551
Total Distributed Earnings 1956- ].977 $4, 408, 224
(See notes to financial statements)
This statement is an integral part of report dated June 23, 1978.
-49-
t
City of Brooklyn Center Exhibit 26
Investment Trust Fund
CHANGES IN PARTICIPATING FUNDS' BALANCES
January 1, Net Fund 1977 December 31, t
1977 Additions Income 1977
Participating Fund Balance Withdrawals) Distribution Balance
General Fund 696, 356 $418, 021 43, 23? 1, 157, 614
Park Concessions Fund 209 209) -0-
Federal Revenue Sharing Fund 468, 990 13, 068 35, 756 517, 814
Anti-Recession Fiscal Assistance -0- 1, 280 155 1, 435
Park Bond Debt Service 74, 533 1, 847 5, 464 81, 844
Library Bond Debt Service 101, 862 13, 063) 7, 174 95, 973
State Aid Street Bond Debt Service 1, 172 1, 172) -0-
Improvement and Building Bond 57, 497 27, 596 5, 035 90, 128
Open Space Acquisition Fund 2, 766 2, 619 284 5, 669
Capital Projects Fund 319, 242 16, 062) 21, 960 325 140
State Aid Construction Fund 1, 661, 842 31, 018) 117, 749 1, 748, 573
Municipal Liquor Fund 56, 756 11, 441) 1, 810 47, 125
Public Utilities Fund 3, 370, 657 48, 458) 241, 496 3, 563, 695
Public Utilities Revenue Bond Account 60, 740 5, 253) 4, 571 60, 058
Public Utilities Construction Fund 60, 930 4, 370 65, 300
Fire Department Relief Association 1, 500 1, 494) 123 129
Public Employees' Retirement Association 22, 525 5, 850) 1, 864) 14, 811
Police Pension Fund 79, 489 163, 652 9, 344 252, 485
Housing and Redevelopment Agency 12, 858 12, 455) 149 552
Special Assessment Funds
Bond Fund 1, 1955A, 1956B, 1957AB
and 1956AC 218, 416 8, 494 15, 579 242, 489
1958A 115, 652 12, 586) 8, 290 111, 356
1958B 97, 777 11, 945) 6, 951 92, ?83
1959AB 80, 070 18, 930) 5, 755 66, 895
1960AB 310, 976 34, 834) 22, 406 298, 548
1961AB 422, 294 24, 239) 30, 244 4�t3, 299
1963A 267, 710 8, 396) 19, 171 278, 485
1965A 74, 306 5, 791) 5, 348 73, 863
1966A 147, 990 9, 862) 10, 661 148, 789
1969A 74, 508 7, 776 5, 702 87, 986
1970 6, 666 56, 452 1, 696 64, 814
1973 44, 084 4, 273 3, 471 51, 828
1974 48, 343 109, 675 5, 197 163, 215
1976 15, 401 4, 648 571 20, 620
Total $8, 974, 117 $546, 343 $637, 855 $10, 15$, 315
(Exhibit 25) (Exhibit 1)
(See notes to financial statements)
This statement is an integral part of report dated June 23, 1978.
-50-
SPECIAL ASSESSMENT FUNDS
Special Assessment Funds are employed to finance and account for the
construction and financing of certain public improvements such as resident-
ial streets, sidewalks, or storm- sewers or the provision of services which are
to be paid for wholly or in part from special assessments levied against
benefited property. The fact that special assessment improvements are paid
for completely or in part by property owners in a limited geographical area
deemed to be specially benefited distinguishes them from improvements
which benefit the entire community and which are paid for out of general
revenues or through the issuance of general obligation bonds.
City of Brooklyn Center Exhibit 2?
Special Assessment Funds
COMPAR.ATIVE ("OMBINED BALANCE SHEET
Debt Service Current
Activity (only) Construction Combined Statement
ASSETS Funds Fund 1977 1976
Temporary investments (Exhibit 26) $2, 109, 350 20, 620 $2, 129, 970 $1, 924, 193
Accounts receivable and accrued interest 1, 303 1, 303 1, 434
Due from other funds 34, 876
Assessments receivable:
Future installments (principal) 2, 819, 177 56, 885 2, 876, 062 3, 302, 494
Current and delinquent assessments 630, 246 630, 246 606, 439
City General Fund (Note 6) 185, 655 10, 927 196, 582 233, 152
Tax forfeit land 5, 996 5, 996 11, 106
cs� Authorization to assess for construction in progress 300, 150 300, ].50 17, 000
Deferred interest charges 23, 031 23, 031 26, 406
Due from other governmental units 1, 439 1, 439 4, 872
Totals $5, 774, 894 $389, 885 $6, 164, 779 $6, 161, 972
LIABILITIES
Accounts payable 14, 004 14, 004 1, 896
Contracts payable 28, 108 28, 108
Accr-ued expenses and costs 41, 251 2, 555 43, 806 13, 686
Due to other funds 75, 000 18, 495 93, 495 110, 467
Construction loans paya.ble 126, 000 190, 000 316, 000 126, 000
Bonds payable (Schedule 2) 3, 845, 000 3, 845, 000 4, 350, 000
Total Liabilities $4, 087, 251 $253, 182 $4, 340, 413 $4, 602, 049
Fund Balance debt service (Exhibit 28) 1, 687, 643 -0- 1, 687, 643 1, 548, ?44
Unexpended appropriatians for construction (Exhibit 29) -0- 136, 723 136, 723 11, 179
Totals $5, 774, 894 $389, 885 $6, 164, 779 $6, 161, 972
X 1�1
(See notes to fina.ncial statements)
This statement is an integral part of report dated June 23, 1978.
City of Brooklyn Center Exhibit 28
Special Assessment Funds
COMPARATIVE COMBINED STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE
Debt Service Current
Activity (only) Construction Combined Statement
Funds Fund 1977 1976
Revenue
Interest assessments 243, 156 243, 156 281, 983
Interest investments 140, 472 140, 472 147, 124
Other revenue 5, 253
Revenue 383, 628 383, 628 434, 360
Expenditure s
Interest 240, 945 240, 945 267, 348
Agent charges 935 935 1, 054
Other expenditures 2, 849 2, 849 1, 741
Expenditures 244, 729 244, 729 270, 143
Excess of Revenues over Expenditures 138, 899 138, 899 164, 217
Fund Balance, January 1 1, 548, 744 1, 548, 744 1, 384, 527
Fund Balance Debt Service December 31 (Exhibit 27)$1, 687, 643 $1, 687, 643 $1, 548, 744
(See notes to financial statements)
This statement is an integral part of report da.ted June 23, 1978.
r s r■
City of Brooklyn Center Exhibit 29
Special Assessment Funds
STATEMENT OF CONSTRUCTION APPROPRIATIONS AND EXPENDITURES
1977 1976
Appropriations balance, January 1 17, 000 $120, 790
Appropriations during year 363, 350 41, 100
Appropriations closed during the year (Exhibit 30) 80, 200) (144, 890)
Appropriations Balance, December 31 $300, 150 17, 000
Construction expenditures, January 1 5, 821 92, 003
Expended during year 236, 064 44, 863
Expenditures closed during year (Exhibit 30) 78, 458) (131, 045)
Construction Expenditures, December 31 $163, 427 5, 821
Unexpended Appropriations for Construction $136, 723 11, 179
(Exhibit 27)
(See notes to financial statements)
This statement is an integral part of report dated June 23, 1978.
1
t -53-
City of Brooklyn Center Exhibit 30
Special Assessment Funds
STATEMENT OF CONSTRUCTION EXPENDITURES COMPARED TO APPROPRIATIONS
AND ASSESSMENTS OF BENEFITS
Project Expenditures Assessed to
(Under Expended) B�nefited Properties
Over Expended Project Property Municipal
Project Number Description Appropriation Appropriation Expenditures Share Properties Share
197? Fund
74-32 Street 13, 500 2, 894 16, 394 15, 986 408
74-33 Curb and
gutter 3, 500 2, 028 5, 528 5, 428 100
77-01 Trunk water
main 28, 000 4, 306) 23, 694 16, 157 537
77-02 Sanitary sewer 10, 400 342) 10, 05E 10, 058
7?-03 Street 5, 500 233) 5, 26? 5, 267
?7-04 Curb and
gutter 4, 200 55) 4, 145 4, 145
77-05 Sanitary
sewer 4, 600 535) 4, 065 4, 065
?7-06 Street 2, 400 260 2, 660 2, 660
77-07 Water main 4, 300 537) 3, 763 2, 822 941
77-08 Sanitary sewer 3, 800 916) 2, 884 2, 233 651
Totals 80, 200 1, 742) 78, 458 68, 821 9, 637
(Exhibit 29) (Exhibit 29)
(See notes to fina.ncial statements)
This statement is an integral part of report dated June 23, 1978.
i
GENERAL FIXED ASSETS �ROUP OF ACCOUNTS
General Fixed Assets are those fixed assets of a governmental jurisdiction
which are not accounted for in an Enterprise, Working Capital, or Trust
Fund. To be classified as a fixed asset in this category, a specific piece of
property must possess three attributes:
(1) tangible nature; (2) a life longer than the cunent fis�al year; and (3) a
significant value.
City of Brooklyn Center Exhibit 31 I
STATEMENT OF GENER,AL FIXED ASSETS
Balance Balance
January 1, December 31,
1977 Acquisitions Disposals 1977
Investment in Fixed Assets
Land and land improvements 367, 448 367, 448
Buildings and building improvements 2, 777, 217 26, 398 2, 803, 615
Park properties (including buildings) 1, 472, 755 26, 012 1, 498, 767
�'urniture and fixtures 162, 495 9, 096 171, 591
Departmental equipment 1, 161, 242 121, 320 22, 004 1, 260, 558 I
Storm sewers and street projects 9, 348, 599 11, 511 9, 360, 110
Total Investments in Fixed Assets $15, 289, 756 $194, 337 22, 004 $15, 462, 089
Sources of Investments
General indebtedness 600, 491 600, 491
General Fund revenues (includes ad valorem levies) 1, 722, 967 $153, 980 22, 004 1, 854, 943
Liquor Store revenue cer±ificates 304, 571 304, 571
Contributions received 327, 398 327, 398
Special assessment projects:
Owners, contracts and city share 9, 164, 687 13, 959 9, 178, 646
Hennepin County 177, 180 177, 180
Capital Projects Fund:
General obligations bonds 2, 250, 000 2, 250, 000
Ad valorem tax levy 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 account 3, 000 3, 000
Interest earnings on investments 207, 615 207, 615
Federal revenue sharing monies 29, 564 12, 681 42, 245
Local units 13, 717 13, 717
Total Sources of Investment in Fixed Assets 15, 289, ?56 $194, 337 22, 004 $15, 462, 089
(See notes to financial statements) (Exhibit 1)
This statement is an integral pa.rt of report dated June 23, 1978.
I
GENERAL LONG-TERM DEBT GROUPOFACCOUNTS
General obligation bonds and other forms of long-term debt supported by
general revenues are obligations of a governmental unit as a whole and not
its individual constituent funds. Moreover, the proceeds of such debt may
be spent on facilities which are utilized in the operations of several funds.
For these reasons, the amount of unmatured long-term indebtedness which
is backed by ttfe 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
L
i
L
C
City of Brooklyn Center Exhibit 32
COMPAR.ATIVE STATEMENT OF GENERAL LONG-TERM
DEBT AND INTEREST
December 31,
1977 1976
Amounts Available and to be Provided
Amounts available in debt er i d
s vi ce fun 310, 429 294, 462
(Exhibit 8)
Amounts to be provided in future periods:
General obligation bond interest 788, 166 977, 263
General obligation bond principal 2, 545, 000 2, 760, 000
Special assessments levied on City
owned properties 196, 582 233, 152
Total Amount Available and to be Provided $3, 840, 177 $4, 264, 877
General Debt and Interest to be Paid in
Future Periods
Principal portion of debt (Exhibit 3�) $2, 741, 582 $2, 993, 152
Interest payable future years (Exhibit 33) 1, 098, 595 1, 271, 725
Total General Debt and Interest to be Paid
Future Periods (Exhibit 33) $3, 840, 177 $4, 264, 877
{See notes to financial statements)
This statement is an integral part of report dated June 23, 1978.
-56-
City of Brooklyn Center Exhibit 33
SCHEDULE OF GENERAL LONG-TERM DEBT AND INTEREST BY MATURITIES
December 31, 1977
General Debt Principal Portion Interest Payable Future Years
Total Building State Aid Assessments Total Building State Aid
Due Durin� Principal of Debt Park Bonds Library Bonds Bonds Street Bonds General Fund Interest Park Bonds Library Bonds Bonds Street Bonds
1978 260, 700 20, 000 10, 000 135, 000 55, 000 40, 700 160, 180 2, 305 2, 660
$104, 000 51, 215
1979 250, 700 20, 000 10, 000 125, 000 55, 000 40, 700 146, 905 1, 485 2, 280 95, 225 47, 915
1980 235,700 15,000 10,000 115,000 55,000 40,70Q 134,211 665 1,900 87,100 44,546
1981 225, 700 10, 000 120, 000 55, 000 40, 700 122, 254 1, 520 79, 625 41, 109
1982 228, 782 10, 000 125, 000 60, 000 33, 782 110, 480 1, 140 71, 825 37, 515
1983 200, 000 10, 000 130, 000 60, 000 98, 210 760 63, 700 33, 750
1984 205, 000 10, 000 135, 000 60, 000 85, 570 380 55, 250 29, 940
1985 195, 000 135, 000 60, 000 72, 545 46, 475 26, 070
1986 200, 000 140, 000 60, 000 59, 840 37, 700 22, 140
1987 200, 000 140, 000 60, 000 46, 765 28, 600 18, 165
v 1988 210, 000 150, 000 60, 000 33, 660 19, 500 14, 160
J
1989 210, 000 150, 000 60, 000 19, 875 9, 750 10, 125
1990 60, 000 60, 000 6, 075 6, 075
1991 60, 000 60, 000 2, 025 2, 025
Totals $2, 741, 582 55, 000 70, 000 $1, 600, 000 $820, 000 $196, 582 $1, 098, 595 4, 455 10, 640
$698, 7 $38 75 0
(Exhibit 32) (Note 6) (Exhibit 32)
(See notes to financial statements)
This statement is an integral part of report dated Sune 23, 1978,
r w■� �w
C ity of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
Year 1977
Note 1: Summary of Significant Accounting Policies
A. Funds The basic accounting and reporting entity
of the City is a"fund". A fund is defined
as an independent fiscal and accounting
entity with a self-balancing set of accounts
recording cash and/or o*,her resources
together with all related liabilities, obli-
1 gations, reser�ves and equities which are
segregated for the purpose of carrying on
specific activities or attaining certain
o�ajective in accord with special regulations,
restrictions or limitatio�s.
B. Basis of Accounting
Both the accrual basis and modified �.ccrual
basis of accounting are utilized by the C ity
when recording the transactions in the var-
ious funds. Accrual accounting is defined
as revenues being record�d at the time they
are earned, and expend itures are recorded
when the liability for them is incurred. The
modified accrual basis is defined as that
method of accounting in which expenditures,
other than accrued interest on general long-
term debt, are recorded at the time the lia-
bilities are incurred, and revenues are received
in cash, except for material or available revenues
which should be accrued to reflect properly
the taxes levied and the revenues earned.
The basis of accounting by fund is:
Fund Basis of Accounting
General Fund Modified Accrual
Spe c ial Revenue Funds
Park Concessions Fund Accrual
Federal Revenue Sharing Accrual
Anti-recession Fiscal Assistance Accrual
-58-
City of Broo'.�lyn Center
NOTES TO FINANCIAL STATEMENTS
Year 1977
Note 1:
C ont inued
Fund Basis of Accounting
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 Funds
Brooklyn Center Fire Relief Accrual
Broo.'.ilyn Center Public
Employees' Retirexnent
Association Accrual
Brooklyn Center Housing and
Red��velopment Accrual
Brooklyn Center Police Pension Accrual
Investment Trust Fund Accrual
Special Assessment Funds Accrual
General Fixed .Assets Gro�ap Accrual
Statement of Gen�ral Long-Term
Debt and Interest Accrual
C. Fixed .Assets and Deprzciation Policie�
Enterprise and Public Service Funds: The
fixed assets of th� Enterprise and Public
Ser Fund �.re 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.
-59-
City of Broo'ilyn Center
NOTES TO FINANCIAL STATEMENTS
Year 197?
Note 1:
C ontinued
C. Fixed Assets and Depreciation Policies continued
General Fixed Assets: The general fixed
assets of the City, those assets not acco�anted
for in o±her fund �;roups, are accounted for
in a separate self-balancing group of accounts
described as the General Fixed Asset Group
of Accounts. General Fixed Asset purchases
are recorded as expenditures in the fund that
finances the purchase. No depreci.ation 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 and the Public
Utilities Fund are not carried as a liability of
a particular fund, but are set up in a separate
self-balancing group of accounts known as the
General Long-Term Debt Group o� Accounts.
E Investments
In�estments are carried at coat 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 participating
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
all budget matters rexnains with the Council. The
Council approves all budgets and any amendments
to ±hoae budgets also requires specific approval
by the Council. Budgetary reporting is included
in this report, in the following funds: General
Fund, Open Space Acquisitio� and Development
Fund, Capital Projects Fux�ds, Municipal State
Aid for Construction Fund, and the Special
Assessment Funds.
-60-
1 City of Bro�klyn Center
NOTES TO FINANCIAL STATEMENTS
Year 1977
No±e 1:
C ont i.nue d
G. Severance and Vacation Pay Policies
The City pays employees severance pay upon
terminatio� o:� eznployment based o� accum-
ulated sick leave and accra�°d �vacation. Sever-
ance, vacation and sick leave pay are recorded
as an expenditure _whzn paid. At December 31,
1977, th� City had a liability of $65, 830 for
accrued �vacatio� pay and a liability of $85, 948
for accumulated sick leave.
Note 2: All Fund.s
The "Combined Balanc.e Shezt All Funds and .Account
Gro•.�ps (Co�d��nsed Form)" as sho;�n on Exhibit 1 is pre-
sented as an informatio� statement only. The readQr is cau-
tioned that the figures as shown under the "Combinsd Total"
colu.mn are a combining of unlike purp��e group� (funds) and
cannot be construed as indicative o.f the overall financial poai-
tion of the City. The financial position and results of opera-
tions of each fund should be �.scer�ained by referznce to indivi-
dual exhibits as submitted for that iund within this report.
Note 3: Munici al Liquor Fu.zd
P
Other Accounts Receivable, in the amount of $7, 064,
repreaents an amount due from a group of liquor wholesalers.
Pursuant to terms of a co�.�rt-ordered judgement, the receiv-
able will be collected over a four-year period. provided that
the City makes purchasea from these wholesalers. At each
year end, these wholesalers remit to ±he City amounts based
on purchases made during the previous year.
Secause 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 ur�der terms of a lease which
expires during 1978. The Bro�'.ilyn Boulevard �tore is located
o� city-owned prop�rty. The Northbroo'� Store is lo;,ated in
the Northbro�k Shop�ing Center and is occupied p�arsuant to
terms o.f a lease which expires November 30, 1981.
-61-
City of Broo'_;lyn Center
NOTES TO FINANCIAL STATEMENTS
Year 1977
Note 4: Public Utilities Fund
Public Utilities Rev�nue 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. Paragrap� 8 of the resolution
provides for the segregation o.f assets and the appropriation of
retained earnings for debt retirement purposes and defines
the manner of accounting for the activities of the Public Utilities
Fund.
As required by Paragraph l0e of the issuing resolution,
an analysis of each account balance appears as follows:
Construction Account
Proceeds of bond sale $1, 000, 000
Add: Investment earnings thru 1976 335, 866
197"l investment earnings 4, 370
Total Investment Earnings (Exhibit 1� 340, 236
Deduct: Construction expenditures thru
1976 $1, 274, 936
1977 construction expenditures -0-
Total Constraction Expenditures $1, 274, 936
Construction Account Balance (Exhibit 15) 65, 300
Debt Retirement Account
Accumulated amounts set aside to meet
1977 requirements for interest and
principal:
Investments with accrued interest 61, 472
Reserve account investments 75, O�JO
Total Debt Retirement Accoi�nt (Exhibit 15) 136, 472
t
-62-
Cit of Broo'�1 Center
Y 3'n
NOTES TO FINANCIAL STATEMENTS
Year 1977
Note 4:
C ont inue d
A summary which reconciles restricted assets with
earnings and also :.ompares ap�ropriated earnings with
restriction requirements as set forth by the resolution
authorizing the sal.e of revenue bonds is presented as
follows
Revenue
Construction Bond Reserve
Account Account Account
Restricted Assets 12/31/?7 $65, 300 61, 472 75, 000
Appropriated Earnings at
12/31/77 65, 300 61, 472 75, 000
All bonds which mature on January 1, 1982 or there-
after are subject to redemption (call) on January 1, 1974,
or any interest payment d�.te thereafter in inverse numerical
ord�r, 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 expansion of the facilities has a
cost 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, 143, 599 has
been accumulated and set aside for the purpose of partially
meeting the financing requirement for the planned expansion.
-63-
City of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
Year 1977
Note 5: Public Utilities Fund Metro Waste Control Commission
Receivable and Reserves
Pursuant to enacted legislation (Metropolitan Sewer Act-
Chapter 449 Session Laws) the Metropolitan Waste Control
Commission, as of January 1, 1971, assumed ownership of
all existing interceptors and treatment works needed to imple-
ment a comprehensive plan for the collection, treatment, and
disposal of sewage in the seven county metropolitan area.
Under the terms of the Act, the Commission is obligated
to reimburse each local government for the cost of facilities
acquired. This coat or purchase price of facilities is based
on depreciated 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 Commission over a period of 30 years and the
amount will earn interest at an annual rate of 4°jo. The method
of payment will be by right of offset. The City will apply each
annual installment against sewer service charges as billed by
the Metropolitan Waste Control Commission annually.
The installment credit for 1977 consisted of principal
and interest and the amount of credit offset against 197 7
sewer service billings totaled 8, 741, leaving a balance due
over the next 23 years of $195, 199. (Exhibit 15)
Note 6: Summary Statement of General Long-Term Debt and Interest
Special assessments which relate to improvements bene-
fiting City-owned properties total $178, 310 as of December 31,
1977. 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 $820, 000 at
December 31, 1977 are payable from the Minnesota State
Aid Allotments.
1
-64-
Cit of Brookl Center
Y 3'n
NOTES TO FINANCIAL STATEMENTS
Year 1977
+e 7• ension Plans and Pension Funds
No� P
The City participates in three pension plans and pension
funds as follows:
1) All City employees with the exception of the sworn police
officers and the volunteer firemen, are covered by the Public
Employees' Retirement Plan. This plan is administered by
an independent agency of the State of Minnesota and is the
central plan for employees of governmental units within the
State of Minnesota. The City contributes, on behalf of its
employees, 5. 5% to 10. 5% of its employees' salaries to
this plan. During 1977, this contribution amount to $144, 101
(Exhibit 23
2) The City contributes to the Brooklyn Center Firemen's
Relief Association, an independently admi.nistered retirement
plan for the City's volunteer firemen. The benefits of this
plan are established by the Minnesota Legislature and the
financing o.f 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 contributions 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.
3) The Police Pension Fund is administered by the City i
for the benefit of its sworn police officers. According to an
actuarial study, dated December 31, 1974, the Fund had an
accrued liability of $615, 123 and an actuarial deficit of $60, 605.
On March 26, 1978, the sworn police officers of the City became
members of the Public Employees Retirement Association pension
plan at a cost of $813, 468 to the Police Pension Fund. Residual
amounts in the Police Pension Fund will be used to offset future
years increased annual installments payable to the P. E. R. A.
-65-
City of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
Year 1977
Note 8: On December 31, 1977, the former City Hall was
totally destroyed by fire. The City has been reimbursed by
insurance in 1978, but final distributions to accounts have
not been made. Since knowledge is Iacking on final distri-
butions, the building has not been deleted from General Fixed
Assets as of December 31, 1977, nor has any insurance
receivable been recorded.
Note 9; The Brooklyn Center Housing and Redevelopment
Authority is a separate entity from the City. The City receives
an ad valorem tax which is remitted to the Authority.
Note 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.
-66-
City of Brooklyn Center
STATISTICAL INFORMATION SECTION
TABLE OF CONTENTS
Schedule Page Number
General Governmental Expenditures by F'unction I 1
j 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 Assessment Collections VII 7
Ratio of Net Bonded Debt to Assessed Value and
Net Bonded Debt Per Capita VIII 8
Computation of Direct and Overlapping Debt IX 9
L Statement of Legal Debt Margin X 10, 11
1 Ratio of Annual Debt Service Expenditures for
General Bonded Debt to Total General Exper?ditures XI 12
Schedule of Revenue Bond Coverage XII 13
Summary of Debt Service Requirements to Maturity XIII 14, 15
Schedule of Insurance Coverage XIV 16
Miscellaneous Statistical Facts XV 17 19
Cit of Brookl Center Schedule
I
y
GENER,AL GOVERNMENTAL EXPENDITURES BY FUNCTION
Last Ten Fiscal Years
Public C ommunity
Fiscal General Safety and Public Health Parks and Debt Pension
Year Government Welfare Works Services Recreation Service Expense
1968 $244, O10 $377, 528 $359, 428 13, 866 $235, 723 70, 604 $151, 656
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, 908 587, 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 5�3, 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
r r�■� wr r� r� r■r �r
City of Brooklyn Center Schedule II
REVENUES OTHER THAN SPECIAL ASSESSMENTS
Last Ten Fiscal Years
Charges Revenues in Excess
General for Current Licenses of Expenditures
Fiscal Property Shared Services and and Fines and Public Liquor
Year Taxes Taxes Other Revenue Permits Forfeitures Utilities Stores
1968 876, 271 331, 845 $170, 609 82, 098 31, 940 $131, 280 $146, 551
1969 1, 074, 532 307, 0�0 642, 245 77, 773 44, 031 161, 925 175, 884
1970 1, 122, 156 436, 030 211, 182 49, 859 57, 970 331, 351 172, ?61
1971 1, 256, 532 522, 28Z 306, 699 67, 837 53, 638 276, 935 168, 406
1972 1, 212, 708 817, 139 326, 617 110, 455 37, 172 2?8, 089 133, 972
1973 1, 371, 366 971, 227 389, 632 96, 006 53, 862 527, 510 123, 316
1974 1, 542, 561 9�1, 074 479, 559 88, 922 38, 644 435, 931 134, 995
1975 1, ?45, 667 951, 489 505, 165 101, 38J 42, 940 381, 458 150, 902
1976 1, 725, 85� 1, 288, 8�8 630, 268 102, 399 48, 475 103, 848 147, 143
1977 1, 880, 700 1, 203, 357 641, 582 131, 107 54, 420 187, 56� 121, 536
I
City of Brooklyn Center Schedule III
TAX LEVIES AND TAX COLLECTIONS
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 Delinyuent
Year Total During Fiscal During Fiscal During Fiscal Total Collections Delinquent Taxes to Current
Collected Tax Levy Period Period Period Collections to Tax Levy '1'axes Year Tax Levy
1968 868, 807 851, 452 98. 00°jo 14, 205
865, 657 9964:1 45, 011 05181:1
1969 1, 068, 236 1, 036, 863 97. O6 I6, 612 1, 053, 475 9862:1 59, 742 05593:1
1970 1, 112, 080 1, 086, 177 97. 68 20, 620 1, 106, 797 9952:1 65, 026 05847:1
1971 1, 224, 739 i, 112, 685 90. 85 22, 252 1, 134, 937 9267;1 30, 326 02476:1
1972 1, 195, 237 1, 163, 912 97. 38 96, 219 1, 260, 131 1. 0543:1 48, 409 04050:1
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. OS 61, 791 1, 740. 358 1. 0066:1 144, 641 08366:1
1976 1, 715, 170 i, 521, 690 88, 72 56, 229 1, 577. 919 9200:1 281, 903 16436:1
1977 1, 880, 700 1, 694, 382 90. 09 198, 250 1, 892, 632 1. 0063;1 269, 971 14355:1
Note: The City's taxea are the only ones included in this table.
City of Brooklyn Center Schedule IV
ASSESSED VALUE AND MARKET VALUE OF ALL TAXABLE PROPERTY
Last Ten Years
1969 l970 1971 1972 1973 1974 1975 1976 1977 1978
Population (*Actual) 34, 306 34, 717 35, 173* 36, 370 36, 908 37, 207 36. 954 37, 081 36, 116 34, 110
Real Property
Assesaed Value (Limited);
C ity:
Homestead 11, 970, 877 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
Excess and non-homestead 7, 369, 710 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
Area-wide allocation (net) 460, 981 133, 422 201, 206) 1, 190, 083)
Total Assessed Value 19, 340, 587 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
Estimated Market Value
(Limited) $174, 850, 146 $185, 389, 446 $226, 020, 864 $229, 923, 135 $249, 328, 665 $262, 535, 943 $270, fi99, 261 $301, 639, 725 $329, 463, 243 $381, 926, 955
I
Personal Propert,y
I Assessed Value 1, 603, 159 1, 619, 07? 1, 588, 260 1, 313, 422 2, 403, 743 2, 657, 185
Z, 852, 992 2, 800, 885 3, 034, 703 3, 537, 911
Estimated Market Value 10, 530, 969 10, 644, Z04 10, 394, 151
I 10, 730, 184 5, 590, 100 6, 179, 500 6, 634, 865 6, 505, 874 7, 059, 986 8, 227, 700
o e 1 and nal r er
T tal R a Perso P o t
r y
Assessed Value 20,943,746 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
Estimated Market Value $185, 381, 115 $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, 154, 655
Ratio of Assessed Value to
I Estixriated Market Value 11298;1 11358:1 11658:1 11540;1 .35730:1 .35972:1 .36363:1 .36485:1 .36348:1 .317733:1
Per Capita Valuations
Assessed Value 610.50 641.34 783.56 763.55 2,467.81 2,597.96 2,R29.00 3,031.93 3,386.89 3,634.28
Estimated Market Value 5,.403. 75 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
I (1) 1972 and subsequent valuations reflect changes as provided for in Laws 19?1, Extra Sessio�, Chapter 31, as amended.
(2) 1975 property values and subsequent values include actual amount allocated pursuant to Laws 1971, Extra Session, Chaptcr 24,
from area-wide "Pool".
City of Brooklyn Center Schedule V
TAX RATES AND TAX LEVIES
Yeara 1958 Through 1978
Area School District County Total City, School, County and State N. H. S.
Year Voc-Tech N286 N279 #281 �11 Special State Diet. 1{286 Dist. N279 Diet. N281 Diat. N11
Collectible City School (Earle Brown) (Oeseo) (Robbinsdale) (Anoka) Districtsi7) N. H. S. H. S. (Earle Brown) (Osseo) (Robbinsdale) (Anoka)
(1) (2) (3) (4)
Tax Rates Mills Per $300 of Aasesaed Value
1958 46.47 126.91 119.51 308.64 90.]5 38.13 12.62 6.01 224.13 216.73 205.86 187.37
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 8.10 273.02 263.10 225.56 220.16
1961 46.26 189.64 163.00 139.20 123.53 41.48 13.85 6.84 293.21 288.57 242.77 227.10
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
19B3 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 28U.7U 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 64.77 352.40 327.91 279.67 304.43
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 34B.35 424.49
1971 44.11 7.96 250.31 216.00 204.90 257.09 77.02 379.40 345.09 333.99 378.22
1972 43.04 10.38 183.24 166.09 147.20 173.68 80.45 317.11 299.96 281.07 297.17
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(5)
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(5)
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(5)
1976 15.607(5)(6) 2.759(5) 54.204(5) 53.435(5) 49.043(5) 55.270(5) 31.275(5) 103.845(5) 103.076(5) 98.684(5) 102.152(5)
1977 15.725(5)(6) 2.485(5) 52.663(5) 53.648(5) 49.875(5) 58.400(5) 34.063(5) 104.93B(5) 105.921(5) 102.148(5) 108.188(5)
1978 16.646(5)(6j 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(5)
Tax Leviea on Property Within Brooklyn Center
Area School District County Total City,
Year Voc-Tech #286 #279 #281 #il Total Special Schools,
eoilectible 8chool (Earle Brown)(Osseo) (Robbinsdale) (Anoka) School Districts (7) City State County State
1958 303.466 134,960 202,292 24,298 665,016 309,786 262,640 48,723 1,286,365
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 fi65, 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
1984 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, 978 944. 231 69Q 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 i6, 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, 010 1, 629, 635 789, 077 6, 174, 947 3, 511, 979 1. 752, 564(6) 11, 439, 490
1977 265, 953 i, 786, 278 1, 834. 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, 060 6, 680, 617 4, 345, 690 2, 060, 012(6) 13, 086, 319
(1) Formerly #118 (2) Formerly #28 (3) Formerly #24 (4) Formerly #29, #220 (5)= Due to determination of assessed valuation calculation changed by state ]aw 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.
City of Brooklyn Center Schedule VI
NOTES TO TAX RATES AND TAX LE VIES
Years 1958 Through 1978
Tax 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 sp-�cial assessments for
local improvements not included in above limitation.
Taxes Due Date;
First Monday in January
Taxes Delinquent Date:
Personal Property March 1, amounts over $10. 00 first half
March 1; second half July 1
Real Estate first half May 31; second half October 31
No discount allowed
Penalties for Delinquency: (Amended, Laws 1974, Chapter 459j
Personal Prop�rty 8°jo
Homestead Real Estate June 3°jo, July 4%, August 5°jo, September 6%,
October 7%, November and December 8°jo; after first Monday in
January 10%.
Non-Homestead Real Estate June 7%, July 8%, August 9�jo,
September 10%, October 11%, November and December 12°j
After first Monday in January 14%.
Tax sale date second Monday in May
I axes are certified to Henne in Count and collected b the Count
T p Y Y Y
Treasurer and remitted to the City.
Tax collections are distributed in the proportion of the Ci.ty levy to all
levies.
i
I�
I■
-6-
City of Brooklyn Center Schedule VII i
SPECIAL ASSESSMENT COLLECTIONS
Last Ten Years
Current Sp�cial Total Current
Assessments Amo�ant and Delinquent
Installments Collected Ratio of Current Assessments Current
Fiscal Becoming Due During Currently During Collections to Uncollected Percentage Balance
Perio3 the Fiscal Period the Fiscal Period Amount Due At Year End Collected Uncollected
19v"8 $505, 409 $466, 466 9229;1 $142, 441 99. 72�'fo 1, 437
1969 538, 959 476, ?27 8845:1 136, 043 98. 69 049
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 8�7, 317 647, 695 8023:1 270, 543 97. 19 22, 717
1973 787, 054 589, 500 7490:1 312, 177 94. 89 40, 248
1974 742, 130 634, 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. 1� 257, 485
r r� �r r� �r rM �r r�■� r r� r� r
r� w� r�■r r
City of Brooklyn Center Schedule VIII
RATIO OF NET BONDED DEBT TO ASSESSED VALUE AND NET BONDED DEBT 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
1967 31, 570 46, 775, 910 4, 784, 800 $1, 773, 834 $3, 010, 966 0644:1 95. 37
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
1974 36, 954 96, 662, 138 8, 407, 000 1, 874, 002 6, 532, 998 0675:1 176. 79
1975 37, 081 100, 386, 566 7, 605, 000 2, 115, 984 5, 489, 016 0547:1 148. 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
=��Assessed value has been restated for years prior to 1972 so as to be on a basis comparable
to 1972.
City of Brooklyn Center Schedule IX
COMPUTATION OF DIRECT AND OVERLAPPING DEBT
December 31, 1977
City of Brooklyn Center
Gross Sinking Share
Governmental Unit Debt Funds Net Debt Per Cent Amount
Direct and Overlapping Debt
Direct Debt:
City of Brooklyn Center (1) 7, 015, 000 2, 193, 710 4, 821, 290 100. 00% 4, 821, 290
Overlapping Debt;
School Districts:
No. 281 (Robbinsdale) 27, 615, 000 4, 780, 032 22, 834, 968 10. 20% 2, 329, 167
No. 11 (Anoka) 37, 621, 100 3, 259, 794 34, 361, 306 5. 90% 2, 027, 317
No. 279 (Osseo) 24, 815, 612 5, 413, 581 19, 402, 031 26. 80% 5, 199, 744
N�. 286 (Brooklyn Center) 1, 730, 000 165, 259 1, 56�, 741 100. 00% 1, 564, ?41
Area Voc. Tech. School:
No. 287 18, 900, 000 1, 779, 463 17, 120, 537 4. 90Pf 419, 453 (2)
Metro Transit 14, 150, 000 2, 349, 334 11, 800, 666 1. 50% 177, O10
Metro Council Revenue Supp��rted 191, 855, 000 13, 729, 859 178, 125, 141 (3) (3)
Metro Council Tax Supported 34, 960, 000 19, 225, 649 15, 734, 351 1. 50% 236, 015
Hennepin County 40, 595, 000 4, 386, 096 36, 208, 904 2. 70% 977, 640
Hennepin County Park District 8, 805, 000 668, 331 8, 136, 669 2. 70% 219, 690
Total Overlapping Debt $401, 046, 712 $55, 757, 398 $345, 289, 314 $13, 150, 777
Total Direct and Overlapping Debt $408, 061, 712 $57, 951, 108 $350, 110, 604 $17, 972, 06?
(1) Includes $3, 845, 000 debt outstanding to be paid from special assessments, $820, 000 debt outstanding on State
Aid Street Bonds, and $625, 000 debt outstanding o� revenue bonds.
(2) This debt is approximately 50% supported by State Aids and has been so reduced here.
(3) This debt is paid by Metro area sewer service charges, including Brooklyn Center from its municipal sewer
system. Overlapping
Comparative Net Debt Ratios Chargeable to City Total Direct Debt Debt
Debt to assessed value ($123, 965, 136) 14. 50% 3. 89% 10. 61%
Debt to market value ($390, 154, 655) 4. 61% 1. 24% 3. 37%
Per capita debt �population 34, 110) $526. 89 $141.35 $385.54
w w� rt �r r■r� rr r�■r �■r rr �w r
City of Brooklyn Center Schedule X
STATEMENT OF LEGAL DEBT MARGIN
December 31, 1977
e d e n 1 977 123 965 136
Ass sse Valu Ja uary 1
Debt limit 6. 6?% of assessed value (See Note A) 8, 268, 475
Total bonded debt $7, 015, 000
Deductions (See Note B
A. Bonds
1. Special Assessment Bonds $3, 845, 000
2. State Aid Street Bonds 820, 000
3. Utility Revenue Bonds 625, 000
$5, 290, 000
B. General Debt Service Fund 247, 513 5, 537, 513
Total Debt Applicable to Debt Limit 1, 477, 487
Legal Debt Margin, December 31, 1977 6, 790, 988
Note: (A) M. S. A. Section 475. 53 (See following page)
Note: (B) M. S. A. Sectio� 475. 51 (Sez following page)
I
-10-
City of Brooklyn Center Schedule X
STATEMENT OF LEGAL DEBT MARGIN (Cont'd)
December 31, 1977
Note (A M. S. A. Section 475. 53 et seq. Limit on Net Debt
"Subdivision 1. Generally, except as otherwise provided in
sections 475. 51 no municipality, except a school district or
a city of the first class, shall incur or be subject to a net debt
in excess of 6. 67 pLr cent of the assessed value.
Note (B): M. S. A. Section 475. 51 Definitions:
"Subdivision 4. 'Net Debt' means the amount remaining after
deducting from its gross debt the amount of current revenues
which are applicable within the current fiscal year to the pay-
ment of any debt, and the aggregate o£ the principal of the
following:
(1) Obligatio�s issued for improvements which are payable
wholly or partly from the proceeds of sp�cial assessments
levied upon prop�rty sp-�cially benefited thereby, including
those which are general obligations of the municipality issuing
them, if the municipality is entitled to reimbursements in
whole or in part from thz proceeds of the special assessments.
(2) Warrants or orders having no definite or fixed maturity.
(3) Obligations payable wholly from the income from revenue-
producing conveniences. j
(4) Obligations issued to create or maintain a permanent improve-
ment revolving fund.
(5) Obligations issued for the acquisition, and betterment of
public water-works systems, and public lighting, heating or
power systems, and of any combination thereof or for any other
public convenience from which a revenue is or may be derived.
(6) Amount af all money and the face value of a11 securities held I
as a sinking fund for the extinguishment of obligations other than
those deductible under this subdivisio�.
(7) All other obligations which under the provisions of the la.w
authorizin g their issuance are not to b� included in computing
the net debt of the municipality.
-11-
I
r A
City of Brooklyn Center Schedule XI
RATIO OF ANNUAL DEBT SERVICE EXPENDITURES FOR GENERAL
BONDED DEBT TO TOTAL GENERAL EXPENDITURES
Last Ten Years
Ratio of Debt
Total To�al General Service to General
Year Principal Interest Debt Service Expenditures Expenditures
19$8 51, 000 19, 604 70, 604 $1, 369, 842 5. 15°fo
1969 51, 000 37, 608 88, 608 1, 591, 987 5. 57
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
1974 180, 00� 209, 397 389, 39? 2, 577, 758 15. 10
1975 185, 000 198, 708 383, 708 2, 839, 621 13. 51
1976 225, 00� 186, 730 411, 730 3, 224, 183 12. 76
1977 215, 000 173, 130 356, 130 3, 239, 892 10. 99
City of Brooklyn Center Schedule XII
SCHEDULE OF REVENUE BOND COVERAGE
Last Ten Years
Net Ratio of Net
Gross (1) Revenue Deb± Service Revenue to
Year Revenue Exp°nses Available Principal Interest Total Debt Service
1968 743, 316 $292, 818 $450, 498 38, 000 38, 350 76, 350 5. 9 to 1
1969 854, 367 360, 249 494, 118 40, 00�� 36, 775 76, 775 6. 4 to 1
1970 1, 060, 322 40�, 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, 00� 31, 767 61, 767 5. 2 to 1
w
1973 1, 053, 238 383, 000 700, 238 30, 000 30, 525 60, 525 11. 6 to 1
1974 l, 0�8, 447 471, 046 577, 401 30, 000 29, 400 59, 400 9. 7 to 1
1975 1, 107, 926 556, 573 551, 353 30, 0�0 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
(1) Excludes depreciation and interest on bonds.
1971 and prior includes Liquor Store Revenue Bonds.
Schedule .XI11
SUMMARY OF DEBT SERViCE REQUIREMENTS TO MATURITY
Oecember 31, 1977
I
i
I
City of Brooklyn Center Schedule XIII
SUMMARY OF DEBT SERVICE REQUIREMENTS TO MATURITY
December 31, 1977
Total Total Total Total
Fiscal General G.O. Special State-Aid Total Debt Service
Year Obligation Bonds Assessment Bonds Street Bonds Revenue Bonds Requirements
1978 273, 965 740, 835 106, 215 59, 375 $1, 180, 390
1979 253, 990 665, 530 102, 915 58, O10 1, 080, 445
1980 229, 665 626, 757 99, 546 56, 645 1, 012, 613
1981 211, 145 513, 435 9S, 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
lggg 169, 500 115, 070 74, 160 53, 775 412, 505
1g8g 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, 438, 845 $4, 858, 928 $1, 204, 750 828, 872 $9, 331, 395
i
w� w �r r
Clty of Drooklyn Center 3chedule XIIJ
SUMMARY OF DEBT SERVICE REQUIREMENTS TO MATURITY Continued
December 31, 1977
Total
Fiscal General Obligation Bonds G.O. Special Aesessment Bonds G.O, State-Aid Street Bonda Revenue Bonds Debt Service Requirements
Year Pru�cipal Interest Principal Interest Principal Interest Principal Interest Principal Interest
lg7g 165, 000 $108, 965 545, 000 a 195, 835 55, 000 51. 215 35. 000 24. 375 800, 000 380, 390
1979 155, 000 98, 930 495, 000 170, 530 55, 000 47, 915 35, 000 23. 010, 740, 000 340, 445
1980 140, 000 89, 665 480, 000 146. 757 55, 000 44, 546 35, 000 21, 645 710, 000 302, 613
1981 130, 000 81, 145 390, 000 123, 435 55, 000 41, 109 40, 000 20, 231 615. 000 265, 920
lggZ 135, 000 72. 965 360, 000 303, 472 60, 000 37, 515 40, 000 18, 720 595, 000 232, 672
1983 140, 000 64, 460 345, 000 84, 665 60, 000 33, 750 40, 000 17. 160 585, 000 200, 035
Igg; 145, 000 55. 630 450, 000 66, 529 60, 000 29, 940 40, 000 15, 600 695, 000 167, 693
t
t-►
C3i 1985 135. 000 46, 475 240, 000 42, 325 60, 000 26, O70 45. 000 18, 991 480, 000 128, 861
1
1986 140, 000 37, 700 125. 000 28, 185 60, 000 22, 140 45, 000 12. 285 370, 000 100, 310
28 600 115 000 21, 345 60, 000 18, 165 45, 000 10, 530 360 000 78 6 0
lgg7 140,000 4
1988 150, 000 19, 500 100, 000 15, 070 60, 000 14, 160 45. 000 8, 775 355, 000 57, 505
iggg 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 6�, 000 2, 025 45, 000 3, 510 165, 000 7, 155
1992 45, 000 1, 755 45. 000 1, 755
Total a1, 725, 000 a713. 845 $3, 845, 000 $1, 013, 828 $820.000 $384.750 �625, 000 �203, 872 a7, 015. 000 $2, 316, 395
(Schedule XtII)
City of Brooklyn Center Schedule XIl'
SCHEDULE OF INSURANCE COVERAGE
December 31, 1977
Policy Pe�iod
Type of Coverage and Details From To Liabflity Limits
I. Statutory Liability to Employees
a. Workers' Compensation 7-1-77 7-1-78 Statutory
II. Liability to the Public
a. #General Liability, Comprehenstve 1-1-75 1-1-78
(1) Bodtly Injury 300, 000 Combined Single Limit
(2) Property Damage 300, 000 Combtned Single Limit
(3) Personal Injury 300, 000 Combined Single Limit
b. Automobile Liability, Comprehensive 1-1-77 1-1-78
(1) Bodily Injury 300,00� Occurrence
(2) Property Damage 300, 000 Occurrence
(3) Uninsured Motorist 300, 000 Occurrence
c. Liquor Stores' Dram Shop 1-1-75 1-1-78 300,000 Occurrence
d. Umbrella Liability 1-1-75 1-1-78 5. 000, 000 Occ. /Agr.
10, 000 Retained Limtt
III. Loss oP Income on City Enterprises
a. Liquor Stores 1-i-75 1-1-78 50,000 Per Locatton
b. Public Utilities 1-1-75 1-1-78 300,000
Buildinga and Structures Conten4:
(Replacement Cost) (Actual Cash Value)
IV. Iasurance on City Property
a. Public and Iastitutional Property,
All Risk, �100 Deductible, 90%
Co-Insurance 1-1-75 1-1-78
(1) Civic Center $2, 060, 000 a20Q 000
(z) Eaet Fire Station 235, 000 10,000
(3) Municipal Serv[ce Garage 445, 000 30, 000
(4) Elevated Water Towers 3 locations 1, 800, 000
(5) Park Shelter Buildings 17 locations 406, 000
(6) pump Houses 6 locations 189, 000 52, 000
(7) Lift Stations 9 locations 4]6, 000
(8) Meter Station 26, 000
(9) Old City Hall (CEAP) 80, 000
(10) Storage Buildings 2 locations 49,000
(11) Park Garage 15,000 1,000
(12) Outdoor Lighting Systems 6 locations 89, 000
(13) Liquor Store Fire Station 190, 000 91, 000
(14) Leased Liquor Storea 2 locations 210, 000
(15) Movable Properties 109, 310
Liabtlity Limita
b. Boiler and machinery 1-1-75 1-1-78 1, 000, 000 per Accident
c. AutomoNve Physical Damage 1-1-77 1-1-78
(1) Comprehenaive ACV No Deductible
(2) Colltaion ACV 500 Deductible
V. Criminal Acts
a. Fidelity and Fatthflil Performance 200, 000 Per Losa
b. Money and Securities (broad Form) Various
c. Depositor's Forgery 50, 000
*The comprehenaive general liability includes the following additional coveragea:
(a) All employees as additional insureds
(b) Peraonal injury coverage to include false arrest, libel, slander, wrongful entry or eviction or invasion of right of privacy
(c) Broad contractual lisbility
(d) Producte liability
-is 1
City of Brooklyn Center Schedule XV
MISCELLANEOUS STATISTICAL FACTS
December 31, 1977
Date of Incorporation February 14, 1911
Date of Ado tion of Cit Charter November 8, 1966
P Y
Effective December 8, 1966
I i Form of Government Council-Manager
Fiscal Year Begins January 1
Area of City 8 1/2 square miles
I Miles of Streets
C ity 99
L S�ate
C ounty 6
Miles of Storm Sewers 37
Number o.f Street Lights 879
I Building Permits:
Number of Permits Issued:
I977 566
i r 1976 568
1975 645
�974 423
1973 390
1972 708
1971 425
1970 404
1969 46�J
1968 544
1950-1967 inclusive 10, 930
Estimated Cost:
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
1959 10, 441, 322
1968 13, 111, 654
1950-1967 inclusive 121, 592, 358
Fire Protection:
Number of Stations 2
Number o.f Volunteer Firemen 31
Police Protection:
Number of Stations 1
Number of Employees 43
Vehicle Patrol Units 10
-17-
City of Brooklyn Center Schedule �V r
MISCELLANEOUS STATISTICAL FaCTS (Cont'd)
December 31, 1977
Parks and Recreation:
288 acres developed for regular use. 226 additional acres of City-owned
land designated for parks and playgrounds to be developed.
Fu11-time employees 15
Part-time employees 200 (seasonal)
Supervised playgrounds 17
Park shelters 17
Ice skating rinks 17
Hockey rinks 6
Softball diamonds 23
Baseball diamonds 5
Tennis courts 12
Basketball courts 6
Education:
Public Schools:
School Districts within Brooklyn Center (4)
No. 11 No. 286 No. 281 No. 279 r
(Anoka) (Earle Brown) (Robbinsdale) (Osseo)
Total school buildings 34 2 24 17
School buildings within
Brooklyn Center 1 2 1 3
'�'otal Students registered 31, 942 1, 723 21, 670 14, 600
Students from Brooklyn
Center registered 1, 570 1, 723 1, 161 3, 425
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
=�=1977 assessed
va.luation $342, 045, 206 $38, 688, 676 $408, 623, 674 $201, 604, 063
assessed val-
uation in Brooklyn
Center 19, 678, 510 $38, 688, 676 43, 820, 089 48, 376, 446
Parochial schools (1)
St. Alphonsus School grades 4- 8- Total students registered 340
=��Assessed valuation prior to fiscal ciisparities and tax increment calculations.
-18-
C ity of Brooklyn Center Schedule XV
MISCELLANEOUS STATISTICAL FACTS (Cont'd)
December 31, 1977
Municipal Water Plant:
Number of connections 7, 565
Average daily consumption 3, 447, 384 gallons
Peak daily consumption 8, 461, 000 gallons
Plant capacity daily 15, 264, 000 gallons
Miles of water mazns ].07
Number of fire hydrants 766
Number of wells 7
Number of elevated reservoirs 3
Storage capacity 3, 000, 000 gallons
Water rate per thousand gallons 35�
Municipal Sewer Plant:
Number of connections 8, 019
Miles of sanitary sewer 97
Daily disposal capacity 7, 416, 000 gallons
Number of life stations 9
Residential rate $8. 75 per quarter
Municipal Liquor Stores (Off Sale)
Number of owned stores 1
Number of leased stores 2
1977 sales $1, 943, 225
City Employees:
As of December 31, 1977
Permanent or regular 117
Temporary or part-time 119
Total 236
Elections:
General city election 1977 20, 032
Number of votes cast in general election 6, 269
Percentage of reg�stered voters voting 31. 3%
1 Registered voters last state election 23, 504
Number of votes cast last state election 16, 776
Percentage of registered votera voting 71. 4%
Population:
1940 1, 870
1950 4, 284
1960 24, 356
1965 (special census) 30, 108
1970 35, 173
1975 36, 954
1g77 34, 110
-19-