HomeMy WebLinkAboutAnnual Audited Financial Report-1975 ANNUAL
AUDITED FINANCIAL REPORT
of the
CITY MANAGER
of
BROOKLYN CENTER, MINNESOTA
For The Year Ended December 31, 1975
DONALD G. POSS, CITY MANAGER
Prepared by
THE DEPARTMENT OF FINANCE
Paul W. Holmlund, Director
j
(Member of Municipal Finance Officers
l Association of the United States and Canada)
City of Brooklyn Center
ANNUA.L FINANCIAL REPORT
For the Year Ended December 31, 1975
TABLE OF CONTENTS
Exhibit Page
I Number Number
Certi.ficate of Conformance 1, Z
Listing of City Officials 3, 4
I Organization Chart 5
Location of City Properties 6
Letter of Transrnittal
General Comments 8 13
Financial Statements Section
Auditor's Report 14
Combined Balance Sheet All Funds and A.ccount
Groups (Condensed Form) Decernber 31, 1975 1 1 5, 16
General Fund Statements
Balance Sheet 2 1 7
Statement of Changes in Fund Balance 3 1 8
Statement of Revenues, Expenditures, Eri.cumbrances
and Transfers 4 1 9
Staternent of Revenue Budget Actual
Objective Classification Schedule 4-A. 20, 21
1 Statement of Expenditures and Encumbrances
Budget and A.ctual Classified as to A.ctivity,
Character and Object Schedule 4-B 22 25
Cit,y of Brooklyn Center
ANNUAL FINA.NCIAL REPORT j
For the Year Ended December 31, 1975
TABLE OF CONTENTS
Exhibit Page
Number Number
Special Revenue Funds Statements
Combined Balance Sheet 5 26, 27
Combined Staternent of Revenue,
Expenditures and Fund Balances 6 28, 29
Debt Service Funds
Combined Balance Sheet 7 30, 31
Combined Statement of Revenues, Expenditures
and Fund Balances 8 32, 33
Capital Projects Funds Statements
Cornbined Balance Sheet 9 34, 35
Combined Statement of A.ppropriations,
Expenditures and Fund Balances 10 36, 37
Enterprise and Public Service Funds Statements
Municipal Liquor Fund
Statement of Financial Position 11 38, 39
Statement of Retained Earnings 12 40
Statement of Operations 13 41, 42
Statement of Changes in Financial
Position 14 43
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Cit,y of Brooklyn Center
A.NNUAL FINA.NCIA.L REPORT
For the Year Ended December 31, 1975
TABLE OF CONTENTS
Exhibit Page
Nurnber Number
Enterprise and Public Service Funds Statements
1 Public Utilities Fund
j Statement of Financial Position 15 44, 45
Statement of Operations and Retained
Earnings 16 46
Statement of Changes in Financial
Position 17 47
Water Departrnent Operating Expenses 18 48, 49
Sewer Department Operating Expenses 19 50, 51
Statement of Utility Plant in Service and
Allowance for Depreciation 20 52, 53
Staternent of Revenue Bonds Payable 21 54, 55
Trust_and Agenc��Funds Statements
Combined Balance Sheet 22 56, 57
Combined Statement of Revenue, Expenditures
and Fund Balances 23 58, 59
Investment Trust Fund Statements
Bala.nce Sheet 24 60
Staternent of Earnings 25 61
Changes in Participating Funds' Balances 26 62
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Cit,y of Brooklyn Center
ANNUAL FINANCIA L REPORT
For the Year Ended December 31, 1975
TABLE OF CONTENTS
Exhibit Page
Number Number
Speci A Funds Statem
Combined Balance Sheet 27 63, 64
Combined Statement of Revenue Expenditures
and Unappropriated Surplus for Debt
Retirernent 28 65, 66
Statement of Construction Appropriations
and Expenditures 29 67
Statement of Construction Expenditures
Compared to Appropriations and
Assessment of Benefits 30 68, 69
Schedule of Bonds Payable 31 70, 71
General Fixed A.ssets and General Long-
Term Debt
Statement of General Fixed A.ssets 32 72, 73
Statement of General Long-Term Debt
and Interest 33 74
Schedule of General Long-Terrn Debt
and Interest by Maturities 34 75, 76
Notes to Fina.ncial Statements
Note 1 All Funds 77 80
Note 2 All Funds gp
Note 3 Municipal Liquor Fund 80, 81
Note 4 Public Utilities Fund 81, 82
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City of Brookl�n Center
ANNUAL FINA.NCIAL REPORT
For the Year Ended December 31, 1975
TABLE OF CONTENTS
Exhibit Page
Number Number
Notes to Financial Statements, Cont'd
Note 5 Public Utilities Fund 82, 83
Note 6 Special A.ssessment Funds and
Statement of General Lon�-
Term Debt and Interest 83
Note 7 Pension Plans and Pension Funds 83, 84
t Note 8 Contingent Liabilities 84
Statistical Information Section
1
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THE MUNICIPAL FINANCE OFFICERS ASSOCIATION
OF THB UNITED STATES AND CANADA
lCtttif it�c t�At
THE ANNUAL FINANCIAL REPORT OF
"_��e Cit Of Br0 0�1 n Cen teT M1nn es ta
y y o
�or the Year �nded. December3l 196s
SUBSTANTIALLY CONF'ORMS 'TO THE PRINCIPLES AND STANDARDS OF
PUBLIC F'INANCIAL REPORTING AS PROMULGATED BY THE
f �unia�ai ,�ina�tct �ffictr�c S�ggoti�tiott
,lND THE
�ationat lCommitttt on iobtrnatcntai S�uout�tinq
Pre.enced Se tember t9, iy67. C' C,;�,��
P Aorww. ec..s.wt
Ls�e�i�r D►�e�w
I
CIT Y OF BROOKLYN CENTER, MINNESOTA
CERTIFICATE OF CONFORMANCE
On September 19. 1967, the M UNICIPAL FINANCE OFFICERS ASSOCLATION OF THE
UNITED STATES AND CANADA certified that the Annual Audited Financial Report of the
Gity of Brooklyn Center, Minnesota For The Year Ended December 31, 1966 conformed to
I
the principles and standards of public financial reporting as promulgated by the Municipal
Finance Officers Association and the National Committee on Governmental Accounting. I
I
A Certificate of Conformance is awarded by the Municipal Finance Officers Association
of the United States and Canada only to the governmental unit whose financial report is
judged to conform substantially to the high standards for financial reporting established by
the Association. These standards are contained in publications of the National Committee
on Governmental Accounting.
We believe our present annual report for the year ended December 31, 1975 continues
I to conform substantially to such standards.
DEPARTMENT OF FINANCE
I CITY OF BROOKLYN CENTER
City of Brooklyn Center
L UFFICIALS
For the Year Ended December 31, 1975
Elected Officials
Term of Office Term Expires
Mayor Philip Cohen Twa Years 12-31-77
Councilman Maurice Britts Three Years 12-31-77
Councilman Bill Fignar Three Years 12-31-78
Councilman Tony Kuefler Three Years 12-31-78
Councilman Robert Jensen Three Years 12-31-76
Officials Not Elected
City Manager ponald G. Poss
City Clerk Allen S. Lindman
City Treasurer Paul W. Holmlund
City Attorney Richard Schieffer
Administrative A.ssistant James Lacina
Administrative A.ssistant Ronald Warren
Department Heads
Finance Paul W. Holrnlund
Public Works James Merila
Police Thomas G. O'Hehir
Fire Robert Cahlander
Planning and Inspection A. Blair Tremere
Parks and Recreation Eugene Hagel
Assessment John Nordberg
Liquor Stores Trurnan Nelson
Street and Park Superintendent Henry Davis
Public Utilities Superintendent Frank Smith, Jr.
Recreation Superintendent A.rnold Mavis
Health Officer R. I. Shragg, M. D.
Fire Marshall Robert Cahlander
Sanitarian John Urbach
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C it� of Brooklyn Center
LISTING OF CITY OFFICIA.LS
A.t June 30, 1976
Elected Officials
Term of Office Term Expires
Mayor Philip Cohen Two Years 12-3i-77
Councilman Maurice Britts Three Years 12-31-77
Counci.lman Tony Kuefler Three Years 12-31-78
Councilman Bill Fignar Three Years 12-31-78
Councilman Robert Jensen Three Years 12-31-76
Officials Not Elected
City Manager ponald G. Poss
City Clerk A.11en S. Lindman
City Treasurer Paul W. Holmlund
City A.ttorney Richard Schieffer
Administrative Assistant Ronald Warren
A.dministrative Assistant Leon Beasley
Department Heads:
Finance Paul W. Holrnlund
Public Works Jarnes Merila
Police Thomas G. O'Hehir
Fire Robert Cahlander
Planning and Inspection A.. Blair Trernere
Parks and Recreation Eugene Hagel
Assessment John Nordberg
Liquor Stores Truman Nelson
Street and Park Superintendent Henry Davis
Public Utilities Superintendent Frank Smith, Jr.
Recreation Superintendent A.rnold Mavis
Health Officer R. I. Shragg, M. D.
Fire Marshall Robert Cahlander
Sanitarian John Urbach
Civil Defense Coordinator James Lindsay
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1
ORGANI ZATI ON CHART
COUNCIL MANAGER PLAN
City of Brooklyn Center, Minnesota
ADVISORY ELECTORATE CHARTER COMMISSION
Capital Improvement Review Bd.
ADVISORY
Youth Advisory Commission
ADVISORY CITY COUNCIL
Housing Commission
ADVISORY CITY ATTORNEY
Conservation Commission
ADVISORY Cit Mana er
Y g Administrative Assistant
Human Rights Commission City Clerk
u,
ADVISORY Purchasing Officer
Parks and Recreation Commission
ADVISORY
Administrative Assistants
Planning Commission
Civil
Defense
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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
De�artment Treasurer Department City
Government Enqineer
Buildings
M r
Engineering Street Public
Division Division Utilities
�vi�n
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CITY
OF
6301 SHINGLE C�iEEK PARKWAY
B ROOKLYN BROOKLYN CENTER, MINNESOTA 55430
TELEPHONE (612) 561-5440
CENTER
September 30, 19 6
Mayor and City Council
City of Brooklyn Center, Minnesota
Gentlemen:
Section 7.12 of the City Charter requires the City Manager to submit an annual
audited report to the Council covering the entire financial system of the City
for the past year.
The annual audited financial report of the City for the year ended December 31
1975 prepared by the Department of Finance under my general supervision,
is submitted for your consideration. The summary of the report will be published
in the Brooklyn Center Post on October 14, 1976.
Respectfully submit .eel;
J
Donald G. oss
City Manager
DP:ck
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City of Brooklyn Center
GENERAL COMMENT�
Organization
Brooklyn Center was incorporated as a Village on February 14, 1911,
and became a City of the second class on December 8, 1966, thirty days from
the adoption of the City Charter by a referendum vote of the people.
The form of ,g'overnment established by the Charter is the "Council-
Manager Plan". The Council exercises the legislative power of the City and
I deterrnines all matters of policy. The Council is composed of a Mayor and
four Councilmen who are elected at large. Each Councilman serves a term of
three years and the Mayor serves a term of two years. The City Manager is
the head of the Administrative branch of the City government and is responsible
to the Council for the proper administration of all affairs relating to the City.
The Cit Manager is the chief accounting officer of the City and must
y
provide such inforrnation about the finances of the City as the Council may
require.
The offices of City Clerk and City Treasurer are subordinate to and
appoi.nted by the City Manager. The City Clerk has duties in connection with
the keeping of the public records. The City Treasurer has duties in connection
with the receipt, disbursement and custody of public funds.
The City A.ttorney is appointed by the Council. All other officers and
employees of the City are appointed by the City Manager. A.ppointment or
removal of department heads are made final upon a majority vote of the Council.
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City of Brooklyn Center
GENERA.L COMMENTS
Financial Control and the Budget
The City Charter grants the City Council full authority over the
fina.ncial affairs of the City. The Chart er requires that all funds of the
City except funds made up of proceeds of bond issues, public service
enterprise funds, and special assessment funds, be budgeted. The City
Manager is charged with the responsibility of preparing the estirnates of
the annual budget and the enforcernent of the provisions of the budget as
specified in the budget resolution. Upon adoption of the annual budget
resolution by the Council it becomes the forrnal budget for City operations.
After the budget resolution is adopted, the Council can increase the budget
only if actual receipts exceed the estirnates or from accumulated surplus
in the amount of an unexpended appropriation frorn the previous fiscal year.
Financial reports, which cornpare actual performance with the budget
are prepared rnonthly and presented to the Council so the Council is able to
review the financial status and measure the effectiveness of the bud etar
g Y
controls.
Governmental budget procedures are not used in connection with the
liquor stores or public utilities operations, because these operations are
primarily of commercial nature and ernploy concepts peculiar to revenue
producing entities.
A surnmary of the budget document as originally adopted (prior to
subsequent amendments) for the calendar year 1975 follows: I
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City of Brooklyn Center
GENERAL COMMENTS
Financial Control, Cont'd
Proposed Expenditures (Public Service Enterprises Excluded)
City operations (General Fund) $2, 607, 674
Library Bond Redemption Fund 14, 500
Park Bond Redemption Fund 26, 200
1969 Building and Improvement Bond Redemption Fund 273, 000
Firemen's Relief Association 34, 815
Ernployees' Retirement Fund 115, 000
Policemen's Pension Fund 74, 126
Total Proposed Expenditures $3, 145, 315
Proposed Source of Financing
Taxation (see summary of taxation presented below) $1, 772, 080
Shared taxes (State and Federal) 670, 699
Tax penalties 20, 000
Local Revenues:
General governrnent services 266, 510
Permits and licenses 84, 200
Court fines 45, 000
Rent 13, 000
Refunds and reimbursements 32, O10
Interest 10, 000
Transfers-in:
Liquor Fund 125, 000
Library Sale Fund 14, 500
Federal Revenue Sharing Fund 87, 316
Other income 5, 000
Total Proposed Financing $3, 145, 315
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City of Brookl,yn Center
GENERA.L COMMENTS
Financial Control, Cont'd
A.d valorem tax levies for the current year 1975 and for the two previous
years (1974 and 1973) are sumrnarized and presented below:
1975 1974 1973
Mill Rate Amount Mill Rate Amount Mill Rate Arnount
Tax Levy
City operations 12. 44 $1, 248, 939 10. 35 $1, 000, 840 9. 54 877, 414
Debt Redemption
Funds 2. 98 299, 200 3. 14 303, 400 3. 22 295, 900
Public Employees'
Retirement Fund 1. 15 115, 000 1. 07 103, 000 79 73, 000
Policemen's Pen-
sion Fund 74 74, 126 75 72, 216 67 61, 500
Poor Relief Fund -0- -0- 22 20, 000
Firemen's Relief
Association 34 34, 815 40 38, 815 28 25, 638
Total Lev,y 17. 68 $1, 772, 080 15. 71 $1, 518, 271 14. 72 $1, 353, 452
1975 1974 1973
Assessed Valuation
Real estate 97, 072, 593 94, 004, 953 88, 678, 134
Non-exempt personal
property 2, 852, 992 2, 657, 185 2, 403, 743
Fiscal disparities
adjustrnents 460, 981 -0- -0-
Total Assessed
Val uation $100, 386, 566 96, 662, 138 91, 081, 877
The fin nci
a al condition of each fund as of Decernber 31, 1975 and the results
of each Fund's operations for the year, together with a comparison of these results
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City of Brooklyn Center
GENERAL COMMENTS
Financial Control, Cont'd
to budget estimates and a comparison to the previous years' results, is
presented within the financial statements section of this report.
The City carries surety bonds on the positions of City Manager,
Clerk, Treasurer, A.ssessor, Deputy A.ssessor, Liquor Store Manager, and
Assistant Manager. In addition, the City is covered by an Honesty Blanket
Position Bond on all other City employees.
General Operations
The City, in addition to the usual activities such as: general
overnment, ublic safety and welfare, hi hways, recreation and parks;
g P b
i operates three off-sale liquor stores and public sewer and water utilities.
Net revenues produced in excess of working capital requirements by
munici al li uor store o erations have been used toward financin current
P q P g
expense and capital outlay programs of the City General Fund.
The net revenues of the sewer and water utilities have been retained
within the Public Utilities Fund and employed for sewer and water utility
purposes.
A.ccounting System
The accounting for all activities of the City is divided into various
purpose groups or funds as required by statute and/or good accounting practice.
Except for minor variances all funds are maintained on an accrual basis and
in conformity with generally accepted accounting principles applicable to
governmental entities as set forth by the National Committee On Governmental
A.c counting.
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Cit of Brookl n Center
Y Y
GENERA.L COMMENTS
Accounting Systern, Cont'd
The accounts of the City are classified in conformance with classifi-
cations prescribed by the Public Exarniner's office (Classification of A.ccounts
for Use b,y Fiscal Officers in Cities and Villa�es as issued pursuant to Minnesota
Statutes Section 215. 10). The accounting system used for the Public Utilities
Fund is adopted from a systern specifically designed for municipally-owned
utilities by the American Water Works Association and is permissible under
the Examiner's order establishing account classifications for municipalities.
Accounting and bookkeeping for all City activities are centralized
under the Department of Finance. The responsibility for maintaining and pre-
scribing all financial records, establishing and maintaining internal control,
and preparing financial and budgetary reports is delegated to this departrnent.
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MOEN AND PENTTILA
CERTIFIED PUBLIC ACCOUNTANTS
SUITE 203 VALLEY SOUTH BUILDING
MeMeErt oF 6950 WAYZATA BOULEVARD (6121 546-3306
AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACGOUNTANTS MINNEAPOLIS. MINNESOTA 55426
September 30, 1976
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, 1975 listed in the foregoing table of contents. Our
exarnina.tion was rnade in accordance with generally accepted audit-
ing standards, and accordingly included such tests of the accounting
records and such other auditing procedures as we considered necessary
in the circumstances.
In our opinion, the aforementioned financial statements pre-
1 sent fairly the financial position of the various funds and account
groups of the City of Brooklyn Center at December 31, 1975, and the
results of operations of such funds and the changes in financial position
of the Public Utility Fund and Municipal Liquor Fund for the year then
ended, in conformity with generally accepted accounting principles applied
on a basis consistent with that of the preceding year.
1 Respectfu subm'tted,
O�
Oiva Penttila
Certified Public Accountant
MOEN PENTTILA.
Field work completed August 31, 1976.
Report sfgned �eptember 30, 1976.
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Total
(Note 2)
Assets and Resources
Cash on hand in depositories 110, 2 5 8
Temporary investments 8, 602, 089
A.ccounts receivable 137, 525
Taxes receivable 146, 397
Due from other funds 1, 004, 884
Due from other governmental units 431, 744
Inventories and supplies 195, 470
Work orders/construction in progress 91
Accrued revenue 411, 155
Special assessment receivables 4, 578, 519
Securities held for investrnent 9, 080, 498
Prepaid expenses and deferred charges 67, 983
Fixed assets (net of depreciation where applicable) 25, 442, 366
Una.ssessed construction 116, 790
Amount available general debt and interest 481, 393
Arnount to be provided general debt and interest 4, 216, 285
Totals $55, 023, 447
Liabilities I
Vouchers and accounts payable 172, 246
Accrued sales tax 9, 192
Accrued expenses 252, 460
Contracts payable 45, ?92
A.ssessments payable 254, 223
Due to other funds 1, 004, 884
Temporary construction loans and advances 1, 550, 600
Bonds payable 7, 605, 000
Interest payable in future years (general debt) 1, 458, 455
Due funds participating in investrnent trust fund 8, 602, 090
Customer and contractor deposits 23, 254
Total Liabilities $20, 978, 196
Surplus, Reserves and Fund Balances
Surplus and reserves set aside 3, 750, 289
Contributed surplus 9, 841, 744
Investmznt in general fixed assets 15, 180, 512
Unexpended appropriations, authorizations and bala.nces 5, 272, 706
Total Surplus, Reserves and Fund Balances $34, 045, 251
Totals $55, 023, 447
(See notes to financial statements)
This statement is an integral part of report dated A.ugust 31, 1976.
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Cit of Brookl n Center Exhibit 1
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COMBINED BALANCE SHEET ALL FUNDS A.ND A.CCOUNT GROUPS (CONDENSED FORM)
December 31, 1975
Special Debt Capital Municipal Public Trust and Investment Special General General
General Revenue Service Projects Liquor Utilities A.gency Trust A.ssessment Fixed Debt
Fund Funds Funds Funds Fund Fund Funds Fund Funds A.ssets Group and Interest
(Exhibit 2) (Exhibit 5) (Exhibit 7) (Exhibit 9) (Exhibit 11) (Exhibit 15) (Exhibit 22) (Exhibit 24) (Exhibit 27) (Exhibit 32) (Exhibit 33)
14, 514 3, 700 92, 044
387, 666 $450, 487 $213, 876 $2, 119, 944 45, 300 3, 163, 468 95, 993 $2, 125, 355
28, 367 12, 447 78, 456 18, 255
99, 886 25, 893 68 20, 560
259, 634 29, 362 619 406 32, 213 3, 813 678, 837
12, 457 162 114, 747 295, 983 150 8, 245
24, 136 163, 712 7, 622
91
82, 176 14, 569 314, 410
163, 250 4, 415, 269
76, 414 785, 869 8, 218, 215
14, 986 60 28, 307 24, 630
55, 334 10, 206, 520 $15, 180, 512
116, 790
481, 393
4, 216, 285
$841, 737 $450, 487 $269, 293 $2 235, 378 $280, 959 $14, 134, 409 $92 944 $8, 6 24, 6 6 9 $7, 3 87, 381 $15, 180, 512 $4, 697, 678
41, 119 71
62, 799 26, 150 42, 107
7, 83? 1, 355
64, 023 4, 957 3, 553 1, 102 178, 825
25, 213 2, 914 17, 665
254, 223
64, 995 22, 087 455, 116 36, 895 117, 331 6, 483 301, 977
1, 550, 600
695, 000 3, 925, 000 2, 985, 000
i 1, 458, 455
$8, 602, 090
675 22, 579
$170, 137 22, 158 480, 329 $112, 488 846, 978 49, 692 $8, 624, 669 $5, 974, 067 $4, 697, 678
52, 496 $174, 254 $1, 217, 170 11, 086 2, 266, 496 28, 787
I 9, 841, 744
$15, 180, 512
619, 104 254, 075 $269, 293 537, 879 157, 385 l, 179, 191 $871, 252 1, 384, 527
$671, 600 $428, 329 $269, 293 $1, 755, 049 $168, 471 $13, 287, 431 $871, 252 $1, 413, 314 $15, 180, 512
I $841, 737 $450, 487 $269, 293 $2, 235, 378 $280, 959 $14, 134, 409 $920, 944 $8, 624, 669 $7, 387, 381 $15, 180, 512 $4, 697, 678
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THE GENERAL FUN�
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The General Fund accounts for all revenues and expenditures
of a governmental unit which are not accounted for in other
e� funds, and it is usually the largest and most important
t,
accounting activity for state and local governments. It
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normally receives a greater variety and number of taxes and
�^f other general revenues than any other fund. In many large
k
cities for example this fund might have �lowing into it
r
such revenues as general property taxes licenses and
permits fines and penalties rents charges for current
services state-shared taxes and interest earnings The
r
i_ fund's resources also finance a wider range of activities
than any other fund. In fact, most of the current operations
of governmental units will be financed from this fund.
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E;xhibit 2
City of Brooklyn Center
General Fund
BA.LANCE SHEET
December 31,
ASSETS 1975 1974
I Cash on hand and in depositories 14, 514 40, 035
Temporary investments (Exhibit 26) 387, 666 236, 031
Due from other funds 259, 634 257, 151
A.ccounts receivable 28, 367 7, 750
Taxes receivable 99, 886 87, 183
I Due from other governmental units 12, 457 7, 044
Inventory of supplies 24, 136 22, 973
Work orders in progress to be billed 91 1, 775
Expenditures chargeable against the
1976 budget 14, 986
Total $841, 737 $659, 942
LIA.BILITIES, RESERVES A.ND FUND BA.LANCE
Liabilities
Vouchers payable 41, 119 39, 246
Accrued salaries and withholdings 64, 023 62, 263
Due to other funds 64, 995 41, 801
Due to other governmental units 252
Total Liabilities $170, 137 $143; 562
Reserves
Reserve for encumbrances 42, 496 16�, 082
Total Reserves 42, 496 $].9, 082
Fund Balance
Appropriated for 1976 budget 10, OOJ
A.vailable for appropriation (Exhibit 3) 619, 104 $497, 298
Total Fund Balance $629, 104 $497, 298
Total $$41, 737 $659, 942
(Exhibit 1)
1 (See notes to fina.ncial staternents)
This statement is an integral part of report dated August 31, 1976.
1 -17-
Exhibit 3
City of Brooklyn Center
General Fund
STATEMENT OF CHA.NGES IN FUND BALANCE
1975 1974
Fund Balance, Januar,y 1 497, 298 448, 523
A.dd: Revenue (Exhibit 4) $2, 449, 720 $2, 208, 062
Transfers-in (Exhibit 4) 260, 887 121, 463
Total Additions $2, 710, 607 $2, 329, 525
Deduct: Expenditures and encumbrances
(Exhibit 4) $2, 575, 865 $2, 280, 750
Appropriated for the 1976 budget 10, 000
Appropriated for the 1975 budget 2, 936
Total Deductions $2, 588, 801 $2, 280, 750
Fund Balance December 31, (Exhibit 2) 619, 104 497, 298
(See notes to financial statements)
This statement is an integral part of report dated A.ugust 31, 1976.
-18-
Exhibit 4
City of Brooklyn Center
General Fund
STATEMENT OF REVENUES, APPROPRIATIONS FROM FUND BALA,NCE,
EXPENDITURES, ENCUMBRA.NCE� AND TRANSFER�
1975 Actual
Amended Over (Under) 1974
Budget Actual Budget Actual
Revenues (Schedule 4-A.)
635) $1, 046 163
A.d Valorem taxes $1, 268, 939 $1, 250, 30� 18,
Shared taxes 646, 715 645, 441 1, 274) 652, 343
Charges for services 256, 210 261, 388 5, 178 217, 511
Inter-fund charges 58, 686 44, 088 14, 598) 135, 208
Licenses and permits 84, 200 101, 380 17, 180 88, 922
Court fines 45, 000 42, 940 2, 060) 38, 644
Other income 102, 470 104, 179 1, 709 29, 271
Total Revenues $2, 462, 220 $2, 449, 720 12, 500) $2, 208, 062
Transfers from other funds 237, 816 257, 951 20, 135 121, 463
Appropriations from fund
balance 2, 936 2, 936 155, 415
Total $2, 702, 972 $2, 710, 607 7, 635 $2, 484, 940
Expenditures and Encumbrances
(Schedule 4-B)
General governrnent 652, 363 628, 341 24, 022) 546, 649
Public safety and welfare 778, 384 761, 670 16, 714) 700, 438
Highways streets and walks 644, 942 599, 314 45, 628) 522, 297
Community health services 44, 218 43, 269 949) 26, 555
Parks and recreation 578, 964 543, 271 35, 693) 484, 811
Other 4, 101 4, 101)
Tota1 $2, 702, 972 $2, 575, 865 $(127, 10?) $2, 280, 750
Excess (Deficiency) of revenues�
transfers in and a�propriations
�'.l1l:'_L ":':7';"_
and a from fund
encumbrances an_ sf s-
bala.nce over ex en n-eer
out -0- 13�, �42) $(134, 742) 204, 190
(See notes to financial staternents)
This statement is an integral part of report dated August 31, 1976.
-19-
Schedule 4-A
City of Brooklyn Center
General Fund f
S TATEMENT OF REVENUE BUDGET A.ND ACTUAL
OBJECTIVE CLA.S5IFICATION
A.ctual
Final Over(Under)
Budget Actual Budget
Ad Valorem Taxes
Real estate taxes $1, 248, 939 $1, 233, 623 $(15, 316)
Penalties and interest on tax bills 20, 000 16, 681 3, 319)
Total A d Valorem Taxes $1, 268, 939 $1, 250, 304 $(18, 635)
Shared Taxes
Governmental aids per 1973
Minnesota legislature 646, 715 645, 121 1, 594)
Mortgage registry -0- 320 320
Total Shared Taxes 646, 715 645, 441 1, 274) t
Charges for Services
Recreation 248, 110 252, 679 4, 569
Sale of maps 1, 50Q 318 1, 182)
Zoning and platting fees 2, 000 1, 602 398)
Burglar and fire alarm service 2, 600 2, 986 386
Weed cutting 1, 500 1, 410 90)
Assessment searches 500 1, 800 1, 300
Other charges -0- 593 593
Total Charges for Services 256, 210 261, 388 5, 178
Inter Fund Charges
Engineering, clerical and labor 45, 000 29, 778 $(15, 222)
Public utilities (rent and admin-
istrati.on) 13, 686 14, 310 624
Total Inter Fund Charges 58, 686 44, 088 $(14, 598)
Licenses and Permits
Malt licenses 33, 365
Building permits 18, 725
Rental dwelling licenses 10, 219
Dog permits 7, 036
Electrical permits 6, 383
Heating permits 6, 116
Plurnbing permits 3, 443
I Food licenses 3, 056
Sewer and water permits 2, 350
Bicycle licenses 2, 112
Vehicle license s 1, 445
Heating license s 1, 105
-20-
Schedule 4-A
City of Brooklyn Center Cont'd
General Fund
S TA.TEMENT OF REVENUE BUDGET AND A.CTUAL
OBJECTIVE CLASSIFICATION
A ctz� al
Final Over(Under)
Budget A.ctual Budget
Licenses and Permits, Cont' d
Cigarette licenses 1, 030
Sign permits 1, 106
Swimming pool licenses 980
Miscellaneous business licenses 885
Garbage licenses 604
Service stations 683
Taxicab li censes 500
Bowling alleys 170
1 A11 other licenses and permits 67
Total Licenses and Permits 84, 200 101, 380 17, 180
Court Fines
Costs and fees 45, 000 42, 940 2, 060)
Othe r Inc ome
Rental of property 13, 000 7, 994 5, 006)
Grants 54, 212 62, 691 8, 479
Civil defense reimbursements 9, 324 10, 391 1, 067
Interest on temporary investments 10, 000 12, 649 2, 649
Miscellaneous 14, 984 8, 923 6, 061)
Gifts private sources 650 650
Police towing charges 300 881 581
Total Other Income 102, 470 104, 179 1, ?09
Transfers From Other Funds
Group training fund (Exhibit 6) 63 S3
Police pension funa 23, 000 22, 262 738)
Federal revenue sharing fund (Exh. 6) 89, 816 94, 044 4, 228
Liquor fund (Exhibit 12) 125, 000 125, 000
Poor fund (Exhibit 6) 16, 582 16, 582
Total Transfers From Other
Funds 237, 816 257, 951 20, 135
Appropriations
i Appropriations from fund balance 2, 936 2, 936
Total Reven Transfer and
Appropriations (Exhibit 4) $2, 702, 972 $2, 710, 607 7, 635
(See notes to financial statements)
This statement is an integral part of report dated August 31, 1976.
-21-
I
1975 1974
Expendi- Expendi-
tures tures
and Over and
Amended Encum- (Under) Encum-
Budget brances Budget brances
General Government
Mayor and council 36, 565 32, 649 3, 916) 38, 251
Elections and voter registration 5, 445 4, 277 1, 168) 6, 856
Administrative office 214, 153 196, 906 (17, 247? 178, 260
Assessor's office 53, 977 51, 557 2, 420) 54, 116
Accounting and internal audit 78, 558 83, 779 5, 221 57, 502
Independent audit 13, 079 13, 079 11, 031
Legal 48, 850 50, 949 2, 099 33, 617
Charter commission 1, 500 55 1, 445) 23
General government building 200, 236 195, 090 5, 146) 157, 527
Interest expense 9, 466
Total General Government $652, 363 $628, 341 $(24, 022) $546, 649
Public Safety and Welfare
Police protection $635, 700 $627, 231 8, 469) $558, 052
Fire protection 46, 378 40, 776 5, 602) 49, $52
Protective inspection 64, 397 61, 581 2, 816) 66, 483
Civil defense 20, 659 21, 294 635 16, 006
Animal control 10, 500 10, 100 400) 8, 473
Weed eradication 750 688 62) 1, 572
Total Public Safety and
Welfare $778, 384 $761, 670 $(16, 714) $700, 438
Highways, Streets and Walks
Engineering department $154., 990 $129, 382 $(25, 608) $129, 323
Street department 334, 242 315, 911 (18, 331) 274, 300
Maintenance shop 85, 110 83, 809 1, 301) 62, 625
Street lighting 70, 600 70, 212 388) 56, 049
Total Highways, Streets
and Walks $644, 942 $599, 314 $(45, 628) $522, 297
Community Health Services
Health regulation 19, 500 19, 699 199 14, 595
Nursing service 13, 718 13, ?17 1) 11, 959
Detached worker program 11, 000 9, 853 1, 147) -0-
Total Community Health
Services 44, 218 43, 269 949} 26, 555
-22-
Schedule 4-B
C ity of Brooklyn Center
General Fund
STATEMENT OF EXPENDITURES AND ENCUMBRANCES BUDGET A.ND
ACTUA.L CLASSIFIED AS TO ACTIVITY, CHARACTER AND OBJECT
1975 Expenditures and Encumbrances
Classi.fied by Character and Object
Personal Contracted Capital
Service Service Commodities Other Outlays
17, 310 5, 795 9, 544
3, 765 512
119, 126 61, 078 9, 145 6, 768 789
47, 33 7 3, 984 191 45
55, 443 28, 256 80
13, 079
50, 253 200 496
50 5
99, 902 74, 525 12, 448 8, 215
$342, 883 $237, 532 21, 989 16, 888 9, 049
$567, 811 15, 419 10, 298 13, 664 20, 039
28, 598 504 3, 489 1, 958 6, 227
55, 417 5, 239 170 755
13, 370 2, 523 684 19 4, 698
10, 100
688
$665, 196 34, 473 14, 471 15, 811 31, 719
$124, 043 24 1, 705 214 3, 396
226, 418 457 74, 793 14, 243
8, 220 73, 076 2, 513
70, 212
$350, 461 78, 913 $149, 574 214 20, 152
19, 699
13, 717
9, 853
43, 269
-23-
1975 1974
Expendi- Expendi-
tures tures
and Over and
Amended Encum- (Under) Encum-
Budget brances Budget brances
Parks and Recreation
Supervision and recreation $241, 309 $217, 186 $(24, 123) $196, 061
A.dult programs 44, 000 44, 516 516 32, 779
Teen programs 13, 350 10, 906 2, 444) 9, 873
Children's programs 46, 075 44, 586 1, 489) 34, 498
General programs 36, 510 37, 204 694 34, 521
Community center 117, 600 116, 373 1, 22'�) 108, 060
Park rnaintenance and improve-
ment program 80, 120 72, 500 7, 620) 69, 019
Total Parks and Recrea-
tion $578, 964 $543, 271 $(35, 693) $484, 811
Other
Contingency appropriation 4, 101 4, 101)
Total 4, 101 4, 101)
Total Expenditures, Encumbrances
and Transfers-Out (Exhibit 4) $2, 702, 972 $2, 575, 865 $(127, 107)$2, 280, 750
(See notes to financial statements)
This staternent is an integral part of report dated August 31, 1976.
-24-
Schedule 4-B
C ont' d
City of Brooklyn Center
General Fund
STATEMENT OF EXPENDITURES AND ENCUMBRANCES BUDGET AND
ACTUAL CLASSIFIED AS TO ACTIVITY, CHA.RACTER AND OBJECT
1975 Expenditures and Encumbrances
Classified by Character and Object
Personal Contracted Capital
Service Service Commodities Other Outlays
I $201, 728 5, 760 5, 503 202 3, 993
3, 536 33, 864 7, 116
4, 166 6, 390 350
21, ?22 12, 424 10, 440
25, 683 10, 321 1, 200
76, 108 18, 761 995 13, 509
21, 448 16, 959 34, 093
$332, 943 $108, 968 49, 563 13, 711 38, 086
$1, 691, 483 $503, 155 $235, 597 46, 624 99, 006
-25-
i
t�'
r
SPECIAL REVENUE FUNDS
C'' Special Revenue Funds are used to account for revenues
i
4
L=
derived from specific taxes or other earmarked revenue
i_ sources. They are usually required by statute, charter
provision, or local ordinance to finance particular
functions or activities of government.
L�
r.;:
Park
Poor Concessions
ASSETS Fund Fund
Cash on hand and in depositories
Temporary investments (Exhibit 26) 3, 309
Due from other funds
Taxes receivable
Totals -0- 3, 309
LIA.BILITIES AND FUND BA.LANCE
V ouchers payable 71
Due to other funds 4, 485
Total Liabilities 4, 556
Fund Balance
Appropriated fund balance
Fund balance (deficit)(Exhibit 6) 1, 247)
Total Fund Balance 1, 247)
Totals -0- 3, 309
(See notes to financial staternents)
This statement is an integral part of report dated A.ugust 31, 1976.
-26-
Exhibit 5
City of Brooklyn Center
Special Revenue Funds
COMBINED BA.LANCE SHEET
Group Library Federal Coxnbined Statement
Training Sales Revenue �haring December 31,
Fund Fund Fund 1975 1974
709
$447, 178 $450, 487 531, 713
195
?56
-0- -0- $447,178 $450,487 $533,373
71
17, 602 22, 087 37, 806
17, 602 22, 158 37, 806
$174, 254 $174, 254 $102, 339
255, 322 254, 075 393, 228
$429, 576 $428, 329 $495, 567
-0- -0- $447, 178 $450, 487 $533, 373
x i i
-27-
I
I
Park
Poor Concessions
Fund Fund
Revenue
Interest on temporary investments 249
Concession receipts 4, 721
Federal revenue sharing grants
Distribution of Suburban Board assets
Other income 110
Total Revenue -0- 5, 080
Expenditures
Subsistence care and support
payments
Purchases for resale 3, 329
Purchases of equipment 4, 012
Transfers to other funds
(Schedule 4-A., Exhibits
8 10) 16, 582
Total Expenditures and Transfers 16, 582 7, 341
Excess (Deficiency) of Revenue Over
Expenditures and Transfers to Fund
Balance 16, 582) 2, 261)
Fund Balance January 1, 16, 582 1, 014
A.ppropriated by Council Resolution
Fund Bala nce December 31 (Exhibit 5) -0- 1, 247)
See notes to financial statements
This statement is an integral part of report dated A.ugust 31, 1976.
-28-
i
Exhibit 6
City of Brookl,yn Center
Special Revenue Funds
COMBINED STA.TEMENT OF REVENUES, EXPENDITURES
A.ND FUND BALANCES
Group Library Federal
Training Sales Revenue Sharing Combined Stater�ent
Fund Fund Fund 1975 1974
29, 079 29, 328 40, 392
4, 721 2, 315
170, 335 170, 335 159, 570
1, 407
110 44
-0- -0- $199, 414 $204, 494 $203, 728
205
3, 329 2, 636
4, 012 242
63 $153, 702 94, 044 264, 391 115, 135
63 $153, 702 94, 044 $271, ?32 $118, 218
63) $(153, 702) $105, 370 67, 238) 85, 510
63 153, 702 221, 867 393, 228 410, 057
71, 915) 71, 915) 102, 339)
-0- -0- $255, 322 $254, 075 $393, 228
-29-
L
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
L_
debt issued for and serviced primarily by a governmental
enterprise
E
There are three types of long-term debt, the servicing of
r
which should occur in Debt Service Funds: (1) term or
sinking fund bonds; (2) serial bonds; arid (3) notes and time
t
warrants having a maturity more than one year after date of
issue.
tW
ar Librar
P k y
A.SSETS Bonds Bonds
Cash on hand and in depositories
Temporary investments (Exhibit 26) 42, 913 $107, 954
Due from other funds 29, 362
Due from other governrnental units 8
Taxes receivable 2, 411
Totals 74, 694 $107, 954
FUND BA.LA.NCE AND SURPLUS
Fund balance (Exhibit 8) 74, 694 $107, 954
Unappropriated surplus (Exhibit 8)
Totals 74, 694 $107, 954
(See notes to the fina.ncial statements)
This statement is an integral part of report dated August 31, 1976.
�I
-30-
i
Exhibit 7
Cit� of Brookl,yn Center
Debt Service Funds
COMBINED BALANCE SHEET
Certificate State Aid Improvement Combined Statement
of Street Building Decernber 31,
Indebtedness Bonds Bonds 1975 1974
227
93 62, 916 $213, 876 110, 624
29, 362 31, 164
154 162
23, 482 25, 893 25, 931
93 86, 552 $269, 293 $167, 946
93 86, 552 $269, 293 $156, 107
11, 839
93 86, 552 $269, 293 $167, 946
(Exhibit i
1
-31-
Park Library
Bonds Bonds
Fund Balances Januar,y 1 71, 071 11, 424
Add: Revenue and transfers:
General property tax levies 25, 565
Interest on temporary investrnents 2, 918 681
Transfer from other funds (Exhibits
6 10) 109, 660
Other income
Total Balance and Additions 99, 554 $121, 765
Deduct: Expenditures:
Principal paid on bonds 20, 000 10, 000
Interest on bonds 4, 765 3, 790
Fiscal agent fees 95 2l.
Transfer to other funds (Exhibit 10)
Total Expenditures 24, 860 13, 811
Fund Ba.lance December 31 (Exhibit 7) 74, 694 $107, 954
r' urplus December 31
Una Pr°P iated S
(Exhibit 7)
(See notes to fina.ncial staternents)
This statement is an integral part of report dated August 31, 1976.
-32-
Exhibit 8
City of Brooklyn Center
Debt ServicP Funds
C OMBINED STATEMENT OF REVENUES, EXPENDITURES,
A.ND FUND BALA.NCES
Certificate State Aid Improvement
of �treet Building Combined Statement
Indebtedness Bonds Bonds 1975 1974
11, 839 820 72, 792 $167, 946 $150, 197
270, 546 296, 111 303, 422
93 3, 701 7, 393 8, 742
84, 498 194, 158 95, 746
25
11, 839 85, 411 $347, 039 $665, 608 $558, 132
25, 000 $130, 000 $185, 000 $180, 000
60, 153 130, 000 198, 708 209, 397
165 487 768 789
11, 839 11, 839
11, 839 85, 318 $260, 487 $396, 315 $390, 186
93 86, 552 $269, 293 $156, 107
-0- -0- 11, 839
t
-33-
:1
r-
i
i
CAPITAL PROJECTS FUNDS
r- Capital Projects Funds are created to account for all
r�sourc�s used €or the� acqurs�tion o� capita;i facilities by a
governmental unit except those financed by special
assessment and enterprise funds.
i
I
f
f.
f
l:�
Certificates
Library of Indebtedness
Bonds 10
A SSETS
Cash in bank
Taxes receivable
Due from other funds
Temporary investments (Exhibit 26)
Due from other governmental agencies
Uncollected dedicated funds:
Special A.ssessment Fund surpluses to be
transferred (Exhibit 27)
Totals
LIABILITIES AND FUND BALANCE I
Liabilities
Contracts payable
Due to other funds
Total Liabilities
Fund Balance (Exhibit 10
Totals
(See notes to financial statements)
This statement is an integral part of report dated August 31, 1976.
-34-
Exhibit 9
Cit,y of Brooklyn Center
C;apital �rojects F'unds
COMBINED BALANCE SHEET
r Certificates Open-Space Capital Municipal Combined Statement
of Indebtedness A.cq uisition Projects State A.id for December 31
#11 Fund Fund Construction 1975 1974
470
gg 68 1, 690
619 619 3, 095
41, 541 317, 598 $1, 760, 805 2, 119, 944 1, 702, 787
32, 755 81, 992 114, 74? 71, 017
89 000
74, 296 518, 285 $1,.842, 797 2, 235, 378 1, 868, 059
25, 213 25, 213 44, 823
50, 989 34, 750 369, 377 455, 116 439, 328
50, 989 34, 750 394, 590 480, 329 484, 151
23, 307 283, 535 1, �48, 20? 1, 755, 049 1, 383, 908
74, 296 318, 285 $1, 842, 797 2, 235, 378 1, 868, 059
(Exhibit 1)
-35-
Certificates
Library of Indebtedness
Bonds 10
Amounts Appropriated or A.vailable for Appropriation
General Debt:
General obligation bonds $250, 000
Certificates of indebtedness 44, 000
Ad valorem taxes
Sale of property
Grants from other governmental units:
Hennepin County
U. S. Government
State of Minnesota for parks
State of Minnesota for highways
Transfers-In from other funds
General Fund
Special Assessment Funds
Federal Revenue Sharing Fund
Library Sales Fund
Capital Indebtedness
Bond Fund 1
Dedicated f unds appropriated
Interest earned on investments 1, 858 414
Total A.mounts Appropriated or Available for
Appropriation $251, 858 44, 414
Less: Expenditures for authorized purposes:
Total expenditures through December 31
prior year $249, 240 43, 426
Current year expenditures:
Debt Service (Exhibit 8)
Street Construction
Parks and Playgrounds
Transferred to Capital Project Fund 2, 61$ 988
Total Authorized Expenditures Through
December 31 $251, 858 44, 424
Fund Balance
Unexpended and (overexpended) appropriations
Balance restricted to state approved projects
Unappropriated Balance
Fund Balance December 31 (Exhibit 9} -0- -0-
(See notes to financial statements)
This statement is an integral part of report dated August 31, 1976.
-36-
City of Brooklyn Center Exhibit 10
Capital Projects Funds
COMBINED STATEMENT OF APPROPRIATIONS, EXPENDITURES
AND FUND BALA.NCES
Certi.ficates Open-Space Capital Municipal
of Indebtedness Acquisition Projects State Aid for Combined Statement
#11 Fund Fund Construction 1975 1974
$2, 250, 000 $1, 030, 000 $3, 530, 000 $3, 530, 000
9, 500 53, 500 53, 500
263, 362 263, 362 265, 243
37, 543 37, 543 37, 543
22, 850 22, 850 22, 850
1 46, 271 146, 271 151, 575
74, 643 74, 643 74, 643
1, 936, 271 1, 936, 271 l, 667, 017
92, 997 3, 000 95, 997 95, 997
87, 000 87, 000 87, 000
12, 747 12, 747 12, 747
44, 042 44, 042
11, 839 11, 839
4, 129 4, 129
279, 000 279, 000 279, 000
161 8, 385 266, 683 563, 653 841, 154 705, 950
9, 661 $345, 146 $3, 259, 345 $3, 529, 924 $7, 440, 348 $6, 983, 065
1 9, 138 $311, 423 $2, 975, 810 $2, 010, 120 $5, 599, 157 $5, 330, 583
58, 668 58, 668 80, 846
12, 929 12, 929 185, 648
10, 416 10, 416 2, 080
523 4, 129
9, 661 $321, 839 $2, 975, 810 $2, 081, 717 $5, 685, 299 $5, 599, 157
14, 922 92, 802 4, 992) 102, 732 149, 605
1, 114, 438 1, 114, 438 902, 548
t 8, 385 190, 733 338, 761 537, 879 331, 755
-0- 23, 307 283, 535 $1, 448, 207 $1, 755, 049 $1, 383, 908
-37-
t!
r
ENTERPRISE FUNDS
Enterprise funds are established to account for the financing
of self-supporting activities of governmental units which
t..
render services on a user charge basis to the general public.
I
The most universal type of government enterprise is the
public utility engated in the provision of such basic services
as water, electricity, and natural gas. Sanitary sewer systems
E
L 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
r
management
t�
x-
ASSETS
December 31
1975 1974
Current A.ssets
Cash on hand and in depositories 3, 700 64, 155
Accounts receivable 1, 361 790
Temporary investments (Exhibit 26) 45, 300
Due from other funds 406 310
Merchandise inventory (Note 3) 163, 712 171, 205
Prepaid expenses 60 60
Total Current A.ssets $214, 539 $236, 520
Other A.ccounts Receivable
Account receivable arising from favorable
settlement of lawsuit against liquor
wholesalers (Note 3) 11, 086
Property, Plant and Equipment
Fixtures and equipment 78, 827 78, 82?
Land and leasehold improvements 33, 183 31, 397
Less: Accumulated allowance for
amortization and depreciation 56, 676 44, 213
Net Book Value of Properties 55, 334 66, O11
otal 280, 959 $302, 531
T
(See notes to financial statements)
This statement is an integral part of report dated August 31, 1976.
i
1
-38-
Exhibit 11
City of Brooklyn Center
Municipal Liquor Fund
STA.TEMENT OF FINANCIAL POSITION
i
LIABILITIES AND RETAINED EARNINGS
December 31
1975 1974
I Current Liabilities
Accounts payable 62, 799 76, 706
Accrued sales tax payable 7, 837 7, 558
Accrued salaries and wages payable 4, 957 4, 233
Accrued insurance payable 715
Due to other funds 36, 895 81, 836
Total Current Liabilities 112, 488 $171, 048
Reserve for Restricted Assets
Deferred gain arising from favorable
settlement of lawsuit against liquor
wholesalers (Note 3) 11, 086 -0
1 Retained Earnings
Retained earnings (Exhibit 12) $157, 385 $131, 483
1 Total $280, 959 $302, 531
I
r
-39-
Exhibit 12
City of Brooklyn Center
Municipal Liquor Fund
STATEMENT OF RETAINED EA.RNINGS
1975 1974
Retained Earnings (Deficit) January 1 $131, 483 3, 512)
Add: Net income (Exhibit 13 150, 902 134, 995
Deduct: Transfers to General Fund 125, 000
(Schedule 4-A and Exhikiit 14)
Retained Earnings December 31 (Exhibit 11) $257, 385 $131, 483
1
t
l
I
1
(See notes to financial statements)
This statement is an inte ral art of re ort dated Au ust 31 1976.
g P P g
-40-
t
Sales
Less: Cost of Sales
ross Mar in on Sales
G g
Operating Expenses Requiring Funds
Salaries and wages
Rent
Insurance
Payroll taxes
Utilities
Supplies
Heating
Repairs and maintenance
Laundry
Inventory variance
A.udit
Protection services
A.dvertising
Telephone
Provision for uncollectible checks (net of recoveries)
Cash (over) short
Mileage
Mis cellaneou s
Taxes and licenses
Breakage
Equipment rental
Total Operati.ng Expenses Requiring Funds
Net Operating Income (Loss) Before Depreciation and Amortization
Less: Depreciation and amortization (Exhibit 14)
Net Operating Incorne (Loss)
Add: Income from sale of equipment (Lyndale Store)
Miscellaneous income
Net Income (Exhibits 12 and 14)
(See notes to financial statements
This statement is an integral part of report dated A.ugust 31, 1976.
-41-
Exhibit 13
Cit,y of Brooklyn Center
Municipal Liquor Fund
STATEMENT OF OPERA.TIONS
m i ed Staternent
Humboldt Square Brooklyn Boulevard Northbrook Co b n
Store Store Store 1975 1974
l 646 351 846, 569 $1, 954, 223 $1, 883, 184
$461, 303
368, 383 526, 138 683, 672 1, 578, 193 1, 535, 638
92, 920 $120, 213 $162, 897 376, 030 347, 546
44 93? 51, 296 133, 188 123, 966
36, 955
16, 407 13, 584 29, 991 27, 933
2, 006 2, 434 2, 901 7, 341 11, 123
3, 130 4, 692 5, 431 13, 253 12, 161
I 4, ��5 2, 612 4, 680 11, 707 9, 070
1, 412 2, 006 2, 289 5, 707 5, 722
582 575 669 1, 826 1, 712
1 574 1, 909 2, 916 5, 399 1, 848
633 1, 036 890 2, 559 2, 276
276 510 853 1, 639 1, 439
654 653 654 1, 961 2, 052
386 660 585 1, 631 1, 430
202 222 222 646 466
309 308 310 927 818
271 271 271 813 443
122 94 198 414 344
10 10 10 30 62
31 23 31 85 15?
20 20 20 60 59
4 36 11 51
50 50
68, 399 63, 058 87, 821 219, 278 203, 081
24, 521 57, 155 75, 076 156, 752 144, 465
6, 737 1, 073 4, 653 12, 463 12, 679
17, 784 56, 082 $?0, 423 144, 289 131, 786
2, 102
1, 167 1, 712 3, ?34 6, 613 1, 107
18, 951 57, 794 74, 157 150, 902 134, 995
-42-
City of Brooklyn Center
Municipal Liquor Fund
STATEMENT OF CHANGES IN FINA.NCIA.L POSITION
Sources of Funds
Operations:
Net income for year (Exhibit 13)
Add: N on working capital charges against
net income
Depreciation and amortization
Working capital provided by operations
Property purchase contract reduction
Increase in reserve for restricted assets
Total Source of Funds
Application of Funds
Purchase of properties
Increase in other accounts receivable
Increase in working capital
Transfers to General Fund (Exhibit 12
Total Applications of Funds
$236,520
171, 048
65, 472
Analysis of Changes in Workin� Capital
Beginning
of Year
1975
Current A.ssets
Current Liabilities
Working Capital
1974
Current Assets
Current Liabilities
Working Capital
$214, 720
298, 331
83, 611)
1975
$150, 902
12, 463
$163, 365
11, 086
$174, 451
1, 786
11,086
36, 579
125, 000
$174, 451
End of
Year
$214, 539
112, 488
$102, 051
$236, 520
171, 048
65, 472
(See notes to financial statements
Exhibit 14
1974
$134,995
12, s�9 i
$147, 674
2, 453
$150, 127
1, 044
-0-
149, 083
-0-
$150,127
Working Capital
Increase (Decrease)
21, 981)
58, 560
36, 579
21, 800
127, 283
$149, 083
This statement is an integral part of report dated August 31, 1976.
-43-
.ASSETS December 31
1975 1974
Current A.ssets
Cash in bank 3, 440
Investments 50, 058 108, 626
Due from other funds 32, 213 215, 086
Accounts receivable 78, 456 91. 007
Accrued revenues (water pumped, but
not billed) 82, 176 76, 511
Assessments receivable 11, 891 15,`765
Due from other governmental units 22, 428 5, 384
Materials and supplies 7, 622 8, 244
Prepaid expenses 28, 307 46, 180
Total Current A.ssets 313, 151 570, 243
Restricted and Other Assets
Investments 2, 989, 412 2, 348, 380
Metro Waste Control Commission Receivable
(Note 5) 273, 555 285, 892
Debt Retirement Account (Note 4) 138, 519 149, 157
Assessments receivable 151, 359 142, 529
Investment Construction Funds (Exhibit 26)
(Note 4) 61, 893 56, 134
Total Restricted and Other A.ssets 3, 614, 738 2, 982, 092
Utility Plant in Service (Exhibit 20)
Mains and lines $10, 790, 810 $10, 516, 609
Structures 1, 04?, 485 1, 046, 419
Equipment 286, 209 284, 229
Land 23, 621 23, 621
Total Utility Plant in Service $12, 148, 125 $11, 870, 878
Less: Accumulated depreciation 1, 957, 985) 1, 583, 517}
Net Book Value of Utilit,y Plant in Service $10, 190, 140 $10, 287, 361
Construction in progress 16, 380 252, 158
Total $14, 134, 409 $14, 091, 854
(See notes to financial statements)
This statement is an integral part of report dated August 31, 1976.
-44-
City of Brooklyn Center Exhibit 15
Public Utilities Fund
STATEMENT OF FINANCIAL POSITION
L.IABILITIES, RESERVES A.ND RETA.INED EA.RNINGS
December 31
1975 1974
Current Liabilities
Current portion of long term debt 35, 000 30, 000
Vouchers and accounts payable 26, 150 9, $67
Notes and contracts payabl e 2, 914 52, 662
A.ccrued salaries payable 3, 553 2, 702
A.ccrued sales taxes payable 1, 355 1, 360
Due to other funds 117, 331 199, 923
Hydrant meter deposits 675 625
Total Current Liabilities 186, 978 297, 139
Long Term Liabilities
Revenue bonds (Exhibit 21) �95, 725, 000
Less: Current portion of bonds payable 3�� �?00) 30, 000)
Total Lon� Term Liabilities 660, 000 695, 000
Other Credits
Deferred gain on sale of assets (Note 5) 82, 121 85, 406
Reserves
Restricted for plant expansion 1, 690, 408 1, 690, 408
Metro Waste Controi Commission (Note 5) 273, 555 285, 892
Debt Retirement (Note 4) 138, 519 149, 157
Construction Funds (Note 4) 61, 893 56, 134
Working capital 20, 000 20, 000
Total Reserves 2, 184, 375 2, 201, 591
Contributions in aid of Construction
Contributions fivm special assessments
and developers 9, 841, 744 9, 826, 475
Retained earnings (Exhibit 16) 1, 179, 191 986, 243
Total $14, 134, 409 $14, 091, 854
-45-
City of Brooklyn Center Exhibit 16
Public Utilities Fund
STATEMENT OF OPERATIONS AND RETA.INED EA.RNINGS
1975 Combined Operations
Water Sewer Statement
Department Departrnent 1975 1974
Operating Revenue
Residential sales $252, 892 $256, 271 509, 163 502, 419
Commercial sales 139, 962 167, 648 307, 610 296, 469
Service hookup charges 32, 281 2, 425 �4, 706 41, 278
Sale of water rneters 13, 062 13, 062
Penalties 1, 153 4, 982 6, 135 5, 930
Other 9, 903 15, 252 25, 155 18, 225
Operating Revenue $449, 253 $446, 578 895, 831 864, 321
Operating Expenses
Operating expense (Exhibits 18, 19) $169, 356 $387, 217 556, 573 471, 046
Depreciation (Exhibit 20) 99, 597 70, 298 169, 895 141, 470
Operating Expenses $268, 953 $457, 515 726, 468 612, 516
Operating Income (Loss) $180, 300 10, 937) 169, 363 251, 805
Other Income and Expense
Interest 116, 719 95, 376 212, 095 205, 611
Utility Income $297, 019 84, 439 381, 458 457, 416
Excess of water area charges over
construction costs 27, 230
Sale of water meters 115, 778
Interest and bond payment expenses 28, 383) 29, 511)
Extraordinary item related to adjustment
of depreciation arising frorn change in
depreciable life on certain assets (Exhibit 20) 204, 573)
Net Incorne Transferred to Retained Earnings 175, ?32 543, 683
Balance of retained earnings January 1, 986, 243 646, 240
Transferred from the reserves for
Metro Waste Control Comrnission 12, 337 9, 862
Debt Retirement 10, 638
Construction fund 478 36, 520
Transferred to reserves for
Construction fund 6, ,237) 21, 485)
Debt retirement 4, 934)
Plant expansion 223, 643)
Balance of Retained Earnings December 31 (Exhibit 15) $1, 179, 191 986, 243
See no e L f'
t s to inancial statements)
This statement is an integral part of report dated August 31, 1976.
-46-
City of Brooklyn Center Exhibit 17
Public Utilities Fund
STATEMENT OF CHA.NGES IN FINANCIAL POSITION
Sources 1975 1974
Operations
Net income to retained earnings 175, 732 543, 683
Add: Non working capital charges made to income
Depreciation (Exhibit 20) 374, 468 141, 470
Metro Waste Control Commission receivable 12, 337 9, 862
Book value of ineters sold 159, 944
Deduct: Non working capital credits made to income
Amortization of deferred gain on sale of assets 3, 285) 3, 284)
Working Capital Provided by Operations 559, 252 851, 675
Contributions by developers and special assessments 15, 269 288, 303
Debt retirement account investments that were sold 10, 638
Working capital consumed 146, 931
Construction fund investments that were sold 548, 967
Total 732, 090 $1, 688, 945
Applications
Investment in utility plant in service 41, 469 605, 347
Invested in construction funds 5, 759
Payments made to bondholders to retire bonds 35, 000 30, 000
Invested in assessments receivable 8, 830 5, 369
Increased investments 641, 032 245, 466
Increase in reserve for debt retirement account 4, 934
Retirement of customer meter deposits 262, 459
Invested in working capital 1, 672
Payments made to construction contractors 533, 698
Total 732, 090 $1, 688, 945
Analysis of rhan�es in Working Capital
End of Beginning Increase (Decrease)
Year of Year Workin� Capital
1975
Current Assets $313, 151 $570, 243 257, 092)
1 Current Liabi].ities 186, 978 297, 139 110, 161)
Working Capital $126, 173 $273, 104 146, 931}
1974
Current Assets $570, 243 $451, 541 118, 702
Current Liabilities 297, 139 180, 109 117, 030
Working Capital $273, 104 $271, 432 1, 672
(See notes to financial statements
�I j This statement is an integral part of report dated A.ugust 31, 1976.
-47-
Source
of Supply Transmission
Labor 18, 536 13, 703
Electricity 33, 670
Rent and administration 398
Puri.fication supplies 10, 526
Meters for replacement 10, 297
Postage
Payroll taxes
Insurance 20
Materials 43 1, 020
Repairs 3, 069 2, 277
Supplies 126 628
Printing 9 3
Consulting fees
Equipment operation 224 257
Fuel heating 1, 573
Equipment rental 24 548
Fuel equipment
Schools and conferences
Uncollectible accounts
Small tools and equipment 12 7
Refunds
Loss on retirement of assets
Dues and subscriptions 35
Employee benefits
Water used 3, 500
Totals 67, 846 32, 848
(See notes to financial statements)
This statement is an integral part of report dated August 31, 1976.
-48-
City of Brooklyn Center Exhibit 18
Public Utilities Fund
WA.TER DEPARTMENT OPERATING EXPENSES
Classification by Function Combined Statement
Customer
�dministration A cc ounting 1975 1974
18, 915 17, 058 68, 212 63, 124
42 33, 712 24, 767
9, 638 10, 036 10, 965
10, 526 10, 944
10, 297
3, ?39 3, 739 5, 946
4, 891 4, 891 5, 319
388 408 3, 635
15 109 1, 187 3, 421
5, 346 2, 964
302 2, 373 3, 429 1, 714
12 113 218 1, 710
870 870 1, 617
2, 056 2, 537 1, 257
1, 573 948
4, 043 4, 615 946
897
214 214 773
744
52 53 232 543
2, 512 2, 512 447
91
205 240
1,062 1,062
3, 500
45, 175 23, 487 $169, 356 $142, 772
(Exhibit 16)
1
-49-
I
Disposal
Pumping Transmission
i
Metro Waste Control Commission charge
(Note 5 $296, 877
Labor 7, 886 10, 274
Rent and administration
Repairs and maintenance 456 1, 426
Electricity 7, 969
Payroll taxes
Materials 55
Postage
Consulting fees
Supplies 27 98
Insurance
Equipment operation 126 2, 834
Fuel equipment
Interest expense
Uncollectible accounts
Small tools and equipment 33 128
Refunds
Alarm system 507
Equipment rental 37 251
Printing 52
Legal fees
Fuel heating 191
Schools and conferences
Water used 59
Employee benefits
Totals $314, 109 15, 177
(See notes to financial statements)
This statement is an integral part of report datec� A.ugust 31, 1976.
-50-
City of Brooklyn Center Exhibit 19
Public Utilities Fund
SEWER DEPARTMENT OPERATING EXPENSES
Classification by Function Combined Statement
Customer
Administration Accounting 1975 1974
$296, 87? $245, 387
20, 754 7, 293 46, 207 39, 620
1 9, 639 9, 639 10, 965
1, 882 6, 628
42 8, O11 5, 920
4, 891 4, 891 5, 319
55 2, 487
1, 237 1, 237 1, 617
870 870 1, 617
49 509 683 1, 513
387 387 1, 387
1, 066 64 4, 090 1, 507
924 924 897
868
743
161 565
876 876 535
507 396
4, 042 4, 330 221
69 121 195
4, 006 4, 006 148
191 108
150 150 81
59
1, 063 1, 063
48, 786 9, 145 $387, 217 $328, 274
ar (Exhibit 16)
-51-
i
ervice
Utility Plant in S
1-1-75 12-31-?5
Balance Additions Retirements Balance
Water Department
Mains and lines 5, 185, 566 $274, 150 5, 459, 715
Structures 1, 046, 419 1, 066 1, 047, 485
Equipment 274, 200 1, 980 276, 180
Land 23, 071 23, 071
6 806, 451
Total Water Department 6, 529, 256 $277, 196
Sewer Department
Mains and lines 4, 764, 783 51 4, ?64, 834
Structures 566, 260 566, 260
Equipment 10, 030 10, 030
Land 550 550
Total Sewer Department 5, 341, 623 51 5, 341, 674
Totals $11, 870, 879 $277, 247 $12, 148, 125
(Exhibit 15)
(See notes to financial statements)
This statement is an integral part of report dated A.ugust 31, 1976.
-52-
Exhibit 20
City of Brooklyn Center
Public Utilities Fund
STATEMENT OF UTILITY PLANT IN SERVICE A.ND ALLOWA.NCE
FOR DEPRECIATION
Allowance for Depreciation
1-1-75 12-31-75 Depreciable
t Balance Additions Retirements Balance Life (Years)
475, 044 51, 856 526, 900 100
186, 582 34, 877 221, 459 30
143, 346 12, 864 156, 210 5, 10, 20, 25
i
a04, 972 99, 597 9�4, 569
700, 323 47, 649 747, 972 100
68, 191 227, 223 295, 414 25
10,030 10,030 5, 10, 20, 25
??8, 544 $274, 872 1, 053, 416
1, 583, 516 $374, 469 1, 957, 985
(Exhibit 16) (Exhibit 15)
-53-
r
Revenue Bonds Payable
Principal Interest Year
Certificate Interest Outstanding Coupons Out- of
Numbers Rate 12-31-75 standing 12-31-75 Maturity
62-68 3. 90% 35, 000 27, 056 1977
69-75 3. 90 35, 000 25, 740 1978
76-82 3. 90 35, 000 24, 375 1979
83_gg 3. 90 35, 000 23, 010 1980
90-96 3. 90 35, 000 21, 645 1981
97-104 3. 90 40, 000 20, 231 1982
105-112 3. 90 40, 000 18, 720 1983
113-120 3. 90 40,000 17, 160 1984
121-128 3.90 40,000 15,600 1985
129-137 3. 90 45, 000 13, 991 1986
138-146 3. 90 45, 000 12, 285 1987
147-155 3. 90 45, 000 10, 530 1988
156-164 3. 90 45, 000 8, 775 1989
165-173 3. 90 45, 000 7, 020 1990
174-182 3. 90 45, 000 5, 265 1991
183-191 3. 90 45, 000 3, 510 1992
192-200 3. 90 45, 000 1, 755 1993
$695, 000 $256, 668
(Exhibit 15
ments
(See notes to financial state
This statement is an integral part of report dated August 31, 1976.
54-
Exhibit 21
City of Brooklyn Center
Public Utilities Fund
STA.TEMENT OF REVENUE BONDS PAYA.BLE
December 31, 1975
General provisions of issue:
A. Obligations are payable solely from net operations of
the Public Utilities and are in no way a general tax
liability of the City.
B. All bonds which mature on January 1, 1.982 or thereafter
are subject to redemption (call) on January 1, 1974, or
any interest payment date thereafter in inverse numerical
order, at par and accrued interest and premium as follows:
1. If redeemed prior to January 1, 1977, premium of
3
2. If redeemed January 1, 1977, or thereafter prior to
January 1, 1981, premium of 1-1/2%.
3. If redeemed January 1, 1981, or thereafter, no
premium.
C. The resolution authorizing and directing the issuance of
these bonds contains certain covenants and restrictions
enacted for the general purpose of protecting the bondholders.
Paragraph 8 of the resolution provides for the segregation
of assets and the restriction of surpluses for debt retirement
purposes and defines the manner in which the activities of
the Public Utilities Fund will be accounted for. Note 4 of
"Notes to Financial Statements" refers to various accounting
requirements in rnore detail and should be referred to.
-55-
'�1
I
r-
TRUST AND AGENCY FUNDS
Trust and Agency Funds account for assets held by the City
as a trustee or agent for individuals, private organfzations,
r�
and other governmental units
r�
E
INVESTMENT TRUST FUND
Investment Trust Fund provides for the "pooling" or a
s
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 investments and
investment income. Earnings are distributed annually on a
pro rata participation basis
Agency
Fire Public
Department Employees
Relief Retirement
Association Association
ASSETS
on hand and in de ositories
Cash p
Investments 13, 529 33, 092
Accrued revenue
Due from other funds 2, 775
Due from other governmental units 10 71
Taxes receivable:
Current year's levy 1, 825 6, 024
Prior years' levies 1, 317 3, 243
16 681 45, 205
Total
LIABILITIES AND FUND BALANCE
Liabilities
Accounts payable 13, 437 17, 034
Due to other funds 6, 483
Due to other governmental units
Total Liabilities 13, 437 23, 517
Fund Balance (Exhibit 23) 3, 244 21, 688
Total 16, 681 45, 205
(See notes to fina.ncial staternents)
This statement i s an integral part of report dated A.ugust 31, 1976.
-56-
Exhibit 22
City of Brooklyn Center
Trust and Agency Funds
COMBINED BALANCE SHEET
Agency Trust
Housing Police Combined Statement
Redevelopment Pension December 31
Authority Fund 1975 1974
85
12, 699 $822, 542 $881, 862 703, 205
14, 569 14, 569 12, 376
1, 038 3, 813 11, 664
69 150
1, 750 3, 886 13, 485 12, 189
2, 505 7, 065 6, 199
14, 449 $844, 609 $920, 944 $745, 718
11, 597 39 42, 107 14, 324
6,483 21,22?
1, 102 1, 102
12, 699 39 49, 692 35, 551
1, 750 844, 570 871, 252 710, 167
14,449 $844,609 $920,944 $745,718
(Exhibit 1)
r
5?-
A.gency
Fire Public
Department Employees
Relief Retirement
A s sociation A.s sociation
Fund Balance, January 1 3, 493 11, 803 i
Add:
Real estate taxes levied 34, 338 113, 792
Insurance premium rebate 28, 953
PERA. contribution from enterprise funds:
Liquor Store Fund 12, 613
Public Utility Fund 9, 781
Employee contributions
Earnings on temporary investments
Balance and Additions 66, 784 $147, 989
Deduct: Expenditures
Payment to principal of agency 63, 540 $126, 301
Payment of vested share to termina.ted
employee
Professional services
Total Expenditures 63, 540 $126, 301
Fund Balance,Decernber 31 (Exhibit 22) 3, 244 21, 688
(See notes to financial statements)
This statement is an integral part of report dated August 31, 1976.
-58-
City of Brooklyn Center Exhibit 23
Trust and A.gency Funds
COMBINED STATEIVIENT OF REVENU�
EXPENDITURES AND FUND BALANCES
Agency Trust
Housing Police Combined Statement
Redevelopment Pension
Authority Fund i 975 1974
-p- $694, 871 710, 167 556, 018
33, 388 50, 942 232, 460 192, 976
22, 262 51, 215 48, 315
12, 613 12, 160
9, 781 9, 104
26, 044 26, 044 23, 637
53, 958 53, 958 44, 644
33, 388 $848, 077 $1, 096, 238 886, 854
31, 638 221, 479 176, 687
2, 307 2, 307
1 1, 200 1, 200
31, 638 3, 507 224, 986 176, 687
1 750 $844, 570 871, 252 710, 16?
-59-
Exhibit 24
City of Brooklyn Center
Investment Trust Fund
BALANCE SHEET
December 31
1975 1974
A.SSETS
Cash in depositories 92, 044 832)
Accrued interest receivable 314, 410 222, 696
Investments Net of unamortized
premiums and discounts 6, 667, 615 6, 131, 239
Investments Construction loan
certificates to provide temporary
financing of City's construction projects 1, 550, 600 1, 299, 800
Total Assets $8, 624, 669 $7, 652, 903
LIABILITIES
Contract a able 1, 439
P Y
Due contractors (performance deposits) 22, 527 30, 525
Unclaimed cash (law enforcement activities) 18 18
Due to other governmental units 34
Due participating funds (Exhibit 26) 8, 602, 090 7, 620, 921
Total Liabilities $8, 624, 669 $7, 652, 903
(Exhibit 1)
i
(See notes to financial statements)
This statement is an integral part of report dated A.ugust 31, 1976.
60-
Exhibit 2 5
City of Brooklyn Center
Investment Trust Fund
�TATEMENT OF EA.RNINGS
19
75 1974
Interest Income
United States Government securities $418, 687 $394, 967
Construction loans 80, 505 46, 290
Bank savings certificates 56, 501 63, 432
Total Interest Income $555, 693 $504, 689
Expenses
Audit 997 875
Bank charges 104
Total Expenses 997 979
Net Income Distributed to Participating Funds $554, 696 $503, 710
(Exhibit 26)
Explanation
The Investment Trust Fund was established in 1956 to provide a uniform and
consistent method of investing temporary surpluses of cash. Net income of the
Fund is distributed annually to each of the participating funds on the basis of the
average yearly investment maintained by each fund. The net income and the
effective rate of return on average investment by participating funds is shown
below by years.
Rate of Net
Year Return Income
1975 7. 15% 554, 696
1974 7. 66 503, 710
1973 6. 63 391, 221
1972 6. 30 318, 828
1971 6. 66 322, 365
1970 6. 30 250, 408
1956 1969 2. 77 5. 90 836, 778
Total Distributed Earnings for Years 1956 1974 $3, 178, 006
i
(See notes to financial statements)
This staternent is an integral part of report dated August 31, 1976.
-61-
City of Brooklyn Center Exhibit 26
Investment Trust Fund
C HANGES IN PARTICIPA.TING FUND�' BALANCES�
January 1, Net Fund 1975 December 31,
1975 Additions Income 1975
Participating Fund Balance (Withdrawals) Distribution Balance
General Fund 236, 031 $138, 986 12, 649 387, 666
Poor Fund 15, 524 15, 772) 248
Park Concessi ons Fund 3, 978 669) 3, 309
Library Sales Fund 188, 421 188, 421) -0-
Federal Revenue Sharing Fund 323, 790 94, 309 29, 079 447, 178
Park Bond Debt Service 38, 269 1, 726 2, 918 42, 913
Library Bond Debt Service 11, 026 96, 246 682 107, 954
Certificates of Indebtedness 10, 733 10, 733)
State Aid Street Bond Debt Service 820 820) 93 93
Improvement and Building Bond 49, 776 9, 439 3, 701 62, 916
Bond Funds 4, 083 4, 083)
Open Space Acquisition Fund 48, 798 10, 350) 3, 093 41, 541
Capital Projects Fund 109, 588 185, 125 22, 885 317, 598
State Aid Construction Fund 1, 540, 318 111, 261 109, 226 1, 760, 805
Municipal Liquor Fund -0- 44, ?43 557 45, 300
Public Utilities Fund 2, 457, 006 400, 069 182, 395 3, 039, 470
Public Utilities Revenue Bond
Account 62, 699 6, 200) 5, 606 62, 105
Public Utilities Construction Fund 56, 110 453 6, 236 61, 893
Fire Department Relief A.ssociation 13, 529 13, 529
Public Employees' Retirement
A.ssociation 6, 067 27, 034 9) 33, 092
Police Pension Fund 85, 552 54, 633) 5, 754 36, 673
Housing and Redevelopment Agency -0- 12, 699 12, 699
Special Assessment Funds
Bond Fund #1 13, 625 12, 883) 898 1, 640
1955 A 90, 933 42, 069) 6, 307 55, 171
1956 A.0 138, 534 30, 691) 9, 863 117, 706
1956 B and 1957 AB 33, 996 6, 246) 2, 429 30, 179
1958 A 124, 699 12, 536) 8, 775 120, 938
1958 B 124, 105 26, 086) 9, 015 107, 034
1959 A.B 106, 025 19, 260) 7, 516 94, 281
1960 A.B 346, 184 39, 987) 24, 733 330, 930
1961 AB 404, 465 29, 256) 28, 804 404, 013
1963 A 240, 409 4, 837) 17, 310 252, 882
1965 A. 61, 638 3, 209) 4, 419 62, 848
1 1966 A 94, 204 34, 751 7, 798 136, 753
1969 A. 69, ?50 6, 592) 5, 179 68, 337
1970 270, 485 272, 189) 18, 438 16, 734
1973 237, 567 19, 518 16, 968 274, 053
1974 15, 713 35, 013 1, 131 51, 857
Total $7, 620, 921 $426, 473 $554, 696 $8, 602, 090
t (Exhibit 2 5) (Exhibit 26
(See notes to financial staternents)
This statement is an integral part of report dated August 31, 1976.
-62-
r
SPECIAL ASSESSMENT FUNDS
Special Assessment Funds are employed to finance and
account for the construction and financing of certain public
improvements such as residential streets, sidewalks, or
t-- 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 assess-
P:'
ment improvements are paid for completely or in part by
{l property owners in a limited geographical area deemed to
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
t
of general obligation bonds.
l:,�
r-
Bond Fund 1955 A. 1956 AC
ASSETS No. 1 Fund Fund
Cash on hand and in depositories
Ternporary investments (Exhibit 26) 1, 640 55, 171 $117, 706 i
A.ccounts receivable and accrued interest
Due from other funds 65 2, 820
Assessment receivable:
Future installments (principal) 14, 127
Current and delinquent assessments 31 5, 120 4, 254
City General Fund (Note 6) gg7
Installments applicable to tax for-
feit property 91 73 557
A.uthorization to assess for construction
in progress
Deferred interest charges
Due from other governmental units
Totals 1, 827 61, 361 $139, 464
LIABILITIES
Contract payable
A.ccrued expenses and costs
Due to other funds 13 22 t
Construction loans payable
MSA. advances for construction
Bonds payable (Exhibit 31) 20, 000
Total Liabilities 13 20, 022
Appropriated for transfer to Capital Pro-
jects Fund (Exhibit 9)
Unappropriated surplus (deficit) for debt
retirement (Exhibit 28) 1, 827 61, 348 119, 442
Unexpended appropriations for constr.uc-
tion (Exhibit 29)
Totals 1, 827 61, 361 $139, 464
(See notes to financial staternents)
This staternent is an integral part of report dated A.0 ust 31, 1976.
g
-63-
Exhibit 27
City of Brooklyn Center I
Special Assessment Funds
COMBINED BA LANCE SHEET
1956 B Combined Statement
1957 AB 1858 A 1958 B 1959 A.B 1960 AB 1961 AB 1963 1965 1966 1968 1970 1973 1974 Decernber 31,
Fund Fund Fund Fund Fund Fund Fund Fund Fund Fund Fund Fund Fund 1975 1974
1, ?71
30, 179 $120, 938 $107, 034 94, 280 $330, 930 $404, 013 $252, 882 62, 848 $136, ?53 68, 337 16, 734 $274, 053 51, 857 $2, 125, 355 2, 372, 333
18, 255 18, 255 2, 313
867 15, 477 4, 501 11, 422 10, 261 3, 788 5, 198 624, 438 678, 837 780, 215
11, 865 37, 41? 14, 981 56, 194 196, 284 118, 888 121, 742 77, 396 170, 205 266, 791 1, 248, 501 517, 713 983, 234 3, 835, 338 3, 605, 391
463 3, 374 506 677 19, 396 4, 925 2, 519 894 5, 184 10, 562 185, 180 63, 606 8, 009 314, ?00 202, 970
124 21 1, 535 95 2, 319 8, 370 162, 214 47, 493 31, 055 254, 223 265, 151
126 765 1, 731 674 218 3, 225 2, 467 1, 081 11, 008 11, 009 I
116, 790 116, 790 1, 118, 150
24, 630 24, 630 33, 009
497 718 1, 862 143 5, 025 8; 245 4, 429
42, 757 $162, 515 $124, 252 $152, 322 $548, 413 $548, 390 $383, 179 $152, 798 $327, 189 $357, 848 $1, 642, 457 $908, 971 $1, 833, 638 $7, 387, 381 $8, 396, 741
17, 665 17, 665 260, 622
178, 825 178, 825 98, 320
t 154 149 60 200 1, 408 $229, 607 70, 364 301, 977 476, 960
1, 550, 600 1, 550, 600 1, 299, 800
177, 717
75, 000 50, 000 $125, 000 375, 000 340, 000 $215, 000 $110, 000 290, 000 330, 000 $1, 410, 000 585, 000 3, 925, 000 4, 512, 000
75, 154 50, 000 $125, 000 $375, 149 $340, 060 $215, 000 $110, 000 $290, 200 $33I, 408 $1, 410, 000 $814, 607 $1, 817, 454 $5, 974, 067 $6, 825, 419
89, 000
42, 757 87, 361 74, 252 27, 322 173, 264 208, 330 168, 179 42, 798 36, 989 26, 440 232, 457 94, 364 12, 603) 1, 384, 527 1, 257, 912
i 28, 787 28, 787 224, 410
42, 757 $162, 515 $124, 252 $152, 322 $548, 413 $548, 390 $383, 179 $152, 798 $327, 189 $357, 848 $1, 642, 457 $908, 971 $1, 833, 638 $7, 387, 381 $8, 396, 741
(Exhibit 1)
I
I
-64-
Bond Fund 1955 A. 1956 AC
No. 1 Fund Fund
Unappropriated Surplus, January 1 933 55, 610 $110, 395
Add: Revenue:
Interest- assessments 460 1, 467
Interest investments 898 6, 307 9, 863
Revenue 898 6 767 11 330
Less: Expenditures
Interest 552 1, 640
A.gent cha.rges 41 103
Other expenditures 4 436 540
Appropriation for transfer to
Capital Projects Funds
Expenditures and Appro-
priations 4 1, 029 2, 283
Unappropriated Surplus (Deficit),
December 31 (To Exhibit Z7) 1, 827 61, 348 $119, 442
(See notes to financial statements)
This statement is an i.ntegral part of report dated A.ugust 31, 1976.
-65-
I
Exhibit 2 8
City of Brooklyn Center
Special A.ssessments Funds
COMBINED STA.TEMENT OF REVENUE,� EXPEND ITURES A.ND
UNAPPROPR�A.TED SURPLUS FOR. 15EBT RFTIREMENT
1956 B
1957 AB 1958 A 1958 B 1959 AB 1960 AB 1961 AB 1963 1965 1966 1969 1970 1973 1974 Combined Statement
Fund Fund Fund Fund Fund Fund Fund Fund Fund Fund Fund Fund Fund 1975 1974
39, 375 81, 484 66,645 22, 961 $153, 497 $185, 651 $150, 602 38, 527 33, 971 28, 195 $203, 636 77, 808 8, 622 $1, 257, 912 $1, 177, 459
1, 092 3, 097 1, 164 4, 050 14, 601 8, 955 8, 897 4, 633 10, 742 20, 685 $112, 536 43, 003 50, 416 285, 798 274, 577
2, 429 8, 775 9, 015 7, 516 24, 733 28, 804 17, 310 4, 419 7, 798 5, 179 18, 438 16, 968 1, 131 169, 583 166, 800
3, 521 11, 872 10, 179 11, 566 39, 334 $�7, 759 26, 207 9, 052 18, 540 25, 864 $130, 974 59, 971 51, 54? 455, 381 441, 377
4, 000 2, 520 6, 975 17, 820 14, 425 8, 560 4, 735 14, 525 25, 350 $101, 138 43, 327 72, 760 318, 327 270, 139
68 31 55 184 99 39 31 51 138 452 55 1,347 1,278
139 l, 927 21 175 1, 563 556 31 15 946 2, 131 563 33 12 9, 092 507
89, 000
139 5, 995 2, 572 7, 205 19, 567 15, 080 8, 630 4, 781 15, 522 27, 619 $102, 153 43, 415 72, 772 328, 766 360, 924
42, 757 87, 361 74, 252 27, 322 $173, 264 $208, 330 $168, 179 42, 798 36, 989 26, 440 $232, 457 94, 364 12, 603) $1, 384, 52? $1, 257, 912
I
t
I
-66-
Exhibit 29
Cit,y of Brookl,yn Center
Special Assessment Funds
STATEMENT OF CONSTRUCTION A.PPROPRIATIONS AND EXPENDITURES
1975 1974
Appropriations balance, January 1 $1, 118, 150 528, 192
Appropriations during the year 43, 790 1, 081, 250
A.ppropriations closed during the year
(Exhiaft 30) 1, 041, 150) 491, 292)
1 Appropriations balance, December 31 120, 790 $1, 118, 150
Construction expenditures, January 1 893, 740 433, 914
1 Expended during the year 133, 589 869, 954
Expenditures closed during the year
(Exhibit 30) 935, 326) 410, 128)
Construction expenditures, December 31 92, 003 893, 740
Unexpended appropriations for construction 28, 787 224, 410
(Exhibit 27)
(See notes to financial sta.tements)
This statement is an integral part of report dated August 31, 1976.
-6?-
II
(Underexpended)
Project Overexpended Project
Number Description A.ppropriation A.ppropriation Expenditures
72-20 Bridge 263, 000 15, 303) $247, 697
73-32 Street 6, 100 1, 136 7, 236
73-3? Street 8, 500 558) 7, 942
74-01 Water main 95, 000 1, 865) 93, 135
74-02 Sanitary sewer 32, 000 4, 939) 27, 061
74-03 Storm sewer 49, 000 316) 48, 684
74-04 Street 155,000 557 155,557
74-05 Street 45, 000 15, 953) 29, 04?
74-06 Curb and gutter 39, 000 11, 949) 27, 051
74-07 Water main 60, 000 3, 889) 56, 111
74-08 Sanitary sewer 15, 000 3, 050) 11, 950
74-09 Storm sewer 8, 000 l, 812) 6, 188
74-10 Street 39, 000 10, 265) 28, 735
74-11 Water main 19, 900 3, 800 23, 700
?4-12 Street 12, 500 1, 704) T0, ?96
74-14 Curb and gutter 33, 000 5, 538) 27, 462
74-17 Water main 26, 000 9, 637) 16, 363
74-18 Sanitary sewer 21, 050 10, 368) 10, 682
74-19 Storm sewer 26, 500 3, 017) 23, 483
74-21 Water main 15, 200 618) 14, 582
74-22 Street 10, 500 2, 092) 8, 408
74-23 Storm sewer 8, 000 2, 474) 5, 526
74-34 Water main 53, 900 5, 970) 47, 930
$1, 041, 150 $(105, 824) $935, 326
(Exhibit 29) (Exhibit 29)
(See notes to financial statements)
This statement is an integral part of report dated A.ugust 31, 1976.
-68-
Exhibit 30
City of Brooklyn Center
Special �ssessment Funds
STATEMENT OF CONSTRi;CTION EXPENDITLRES COMPARED TO
APPROPRIATIONS AND 3SSESSMENT OF BENEFITS
Project Expenditures Assessed to Benefited Properties and Funds
Public Municipal (Over)
Property State Aid Utilities Properties Under
Share Share Share Share Other Assessed
$168, ?90 74, 311 4, 601 5)
7, 140 96
7, 942
96, 659 5, 642 9, 166)
1 27, O61
37, 373 11, 311
105, 954 46, 647 2, 888 79 11)
19, 793 8, 714 540
13, 311 12, 806 259 675
102, 320 46, 209)
11, 950
6, 262 74�
26, 928 1, 807
1 9, 780 13, 920
10, 559 237
18, 788 8, 239 435
12, 900 3, 463
10, 682
20, 333 3, 150
9, 750 4, 832
8, 408
526
23,250 24,680
$761, 459 $162,028 47, 132 16, 172 3, 904 55, 369)
-69-
Bond
Redemption
Year of Total Monies to
Fund Description of Issue Issue Issue Paying Agent
1955 A 1955 A serial issue 1955 497, 000 497, 000
1956 AC 1956 C serial issue 1956 550, 000 530, 000
1958 A 1958 A. serial issue 1958 530, 000 455, 000
1958 B 1958 B serial issue 1958 390, 000 340, 000
1959 AB 1959 A.B serial issue 1960 630, 000 505, 000
1960 AB 1960 A serial issue 1960 768, 000 618, 000
1960 B serial issue 1961 885, 000 660, 000
1961 AB 1961 A. serial issue 1962 595, 000 415, 000
1961 B serial issue 1963 430, 000 270, 000
1963 1963 A serial issue 1964 636, 000 421, 000
1965 1965 A improvement bonds 1966 345, 000 235, 000
1966 1966 improvement bonds 1968 750, 000 460, 000
1969 1969 improvernent bonds 1969 755, 000 425, OQO
1970 1970 improvement bonds 1970 2, 290, 000 880, 000
1971 1973 improvement bonds 1973 745, 000 160, 000
T
otal $10, 796, 000 $6, 871, 000
(See notes to financial statements)
This statement is an integral part of report dated August 31, 1976.
70-
Exhibit 31
Cit,y of Brooklyn Center
Special Assessment Funds
SCHEDULE OF BONDS PAYABLE
12/31/75 Last
Bonds Installment
Payable Due on Coupon Rate on Outstanding Bonds
1-1-76
20, o0o i-i-�� 4. io%
75, 000 1-1-79 4. 00
50, 000 1-1-79 3. 60
125, 000 1-1-81 4. 50
150, 000 1-1-81 90M 4. 20%; 60M 3. 00%
225, 000 1-1-81 225M 4. 20%
180, 000 1-1-82 150M 3. ?5%; 30M 3. 70%
160, 000 1-1-84 100M 3. 70%; 60M 3. 60%
215, 000 1-1-85 45M 3. 60%; 80M 3. 50%; 90M 3. 40%
110, 000 1-1-88 95M 3. 80%; 15M 3. 70%
290, 000 1-1-88 50M 4. 80%; 45M 4. ?0%; 165M 4. 50%; 30M
4. 20%
330, 000 1-1-89 6. 50%
1, 410, 000 1-1-90 125M 6. 40%; 125M 6. 30%; 375M 6. 25%;
620M 6. 00%; 165M 5. 50°jo
S85, 000 1-1-85 50M 4. 65%; 50M 4. 60%; 50M 4. 55%; 50M
4. 50%; 50M 4. 40%
$3, 925, 000
Exhibit 2 7
-71-
,I
r-
GENERAL FIXED ASSETS GROUP OF ACCOUNTS
r� General Fixed Assets are those fixed assets of a govern-
`t_
mental jurisdiction which are ncr� accou�ted for in an
Enterprise, Working Capital, or Trust Funda To be
i classified as a fixed asset in this category, a specific
piece of property must possess three attributes:
(1) tangible nature; (2) a life longer than the current
fiscal year; and (3) a significant value.
f
L:.
Investment in Fixed Assets
Land and land improvements
Buildings and building improvements
Park properties (including buildings)
Furniture and fixtures i
Departmental equipment
Storm sewers and street projects
T
otal Investments in Fixed Assets
Sources of Investrnents
General Indebtednes s
General Fund revenues (includes ad valorem levies)
Liquor store revenue certificates
Contributions received
Special assessment projects:
Owners, contracts and city share
Hennepin County
Capital Projects Fund:
General obligations bonds
Ad valorem tax levy 1968 and 1969
Sale of land
Transfer of surplus from special assessments debt service funds
Transfer from Mayor and Council's contingency account
Interest earnings on investments
Federal revenue sharing monies
Total Sources of Investments in Fixed Assets
(See notes to financial statements
This statement is an integral part of report dated A.ugust 31, 1976.
72
Exhibit 32
City of Brooklyn Center
STATEMENT OF GENERA.L FIXED ASSETS
Balance Balance
January 1 December 31
19 75 A cquisitions Dispos als 19 75
327, 232 37, 517 364, 749
2, 765, 554 2, 765, 554
1, 443, 305 1, 443, 305
r 152, 537 4, 413 156, 950
1, 053, 740 71, 788 8, 512 1, 117, 016
9, 164, 494 168, 444 9, 332, 938
14 906 862 $282, 162 8, 512 $15, 180, 512
_::x_
600, 491 600, 491
1, 545, 613 $103, 301 8, 512 1, 640, 402
304, 571 304, 571
320, 699 320, 699
8, 980, 582 168, 444 9, 149, 026
177, 180 177, 180
2, 250, 000 2, 250, 000
265, 243 265, 243
38, 654 38, 654
198, 386 198, 386
3, 000 3, 000
207, 615 207, 615
14, 828 10, 417 25, 2�5
$14, 906, 862 $282, 162 8, 512 $15, 180, 512
(Exhibit 1)
r -73-
�ENERAL LONG-TERM DEBT GROUP OF ACCOUNTS
General obligation bonds and other forms of long-term debt
supported by general revenues are obligations of a govern-
mental unit as a whole and not its individual constituent:
funds Moreover, the proceeds of such debt may be spent
on facilities which are utilized in the operations of several
funds. For these reasons, the amount of unmatured
long-term indebtedness which is backed by the full faith
r�
and credit of the government should be recorded and
tA accounted for in a separate self-balancing group of accounts
t_
titled the "General Long-Term Debt Group of Accounts"
This debt group will include, in addition to conventional
general obliqation bonds, time warrants and notes which
have a maturity of more than one year from date of issuance.
F-
Exhibit 33
City of Brooklyn Center
STATEMENT
OF GENERAL LONG-TERM DEBT AND INTEREST
December 31
1975 1974
A.mount Available .and to be Provided
Amount available in debt service funds:
Park bonds 74, 694 71, 071
Library bonds 107, 954 11, 424
Building and improvement bonds 86, 552 72, 792
State and street bonds 93 820
Certificate of na�debtedness -0- 11, 839
Total Amount Available (Exhibit 7) 269, 293 167, 946
Amount to be provided in future periods
For interest $l, 189, 162 $1, 489, 216
For principal 3, 239, 223 3, 435, 150
Total Amount to be Provided $4, 428, 385 $4, 924, 366
697, 678 $5, 092, 312
Total Amount Available and to be Provided $4
General Debt and Interest to be Paid in Future Periods
General debt (principal portion)
Park bonds 95, 000 115, 000
Library bonds 90, 000 100, 000
Building and improvement bonds l, 870, 000 2, 000, 000
State and street bonds 930, 000 955, 000
Assessment on city properties (Note 6) (Exhibit 34) 254, 223 265, 150
Total General Debt (principal portion) (Exhibit 34) $3, 239, 223 $3, 435, 150
Interest payable in future periods:
Bonds (Exhibit 34) 1, 458, 455 1, 657, 162
Total General Debt and Interest to be Paid in Future
Periods $4, 697, 678 $5, 092, 312
(Exhibit 1)
(See notes to financial statements)
This staternent is an integral part of report dated August 31, 1976.
-74-
General Debt Principal Portion
Pa ment Total Building State A.id A.ssessments
Y
Due Principal Total Park Library Improvement Street Payable No Interest
During Interest Principal Bonds Bonds Bonds Bonds General Fund
1976 443, 103 256, 373 20, 000 10, 000 140, 000 55, 000 31, 373
1977 419 503 246, 373 20, 000 10, 000 130, 000 55, 000 31, 373
1978 411, 553 251, 373 20, 000 10, 000 135, 000 55, 000 31, 373
1979 388, 278 241, 373 20, 000 10, 000 125, 000 55, 000 31, 373
1980 360 584 226 373 15, 000 10, 000 115, 000 55, 000 31, 373
1981 338, 627 216, 373 10, 000 120, 000 55, 000 31, 373
1982 336, 853 226, 373 10, 000 125, 000 60, 000 31, 373
1983 329, 583 231, 373 10, 000 130, 000 60, 000 31, 373
1984 292, 187 206, 617 10, 000 135, 000 60, 000 1, 617
1985 269, 167 196, 622 135, 000 60, 000 1, 622
1986 259, 840 200, 000 140, 000 60, 000
1987 246, 765 200, 000 140, 000 60, 000 t
1988 243, 660 210, 000 150, 000 60, 000
1989 229, 875 210, 000 150, 000 60, 000
1990 66, 075 60, 000 60, 000
1991 62, 025 60, 000 60, 000
Totals $4, 697, 678 $3, 239, 223 95, 000 90, 000 $1, 870, 000 930, 000 254, 223
(Exhibit 33 (Note 6
(See notes to financial statements
This statement is an integral part of report dated August 31, 1976.
-75-
City of Brooklyn Center Exhibit 34
SCHEDULE OF
GENERAL LONG-TERM DEBT AND INTEREST BY MATURITIES
December 31, 1975
Interest Pa,yable
Building State Aid
Total Park Library Improvement Street
Interest Bonds Bonds Bonds Bonds
186, 730 3, 945 3, 420 $121, 550 57, 815
173, 130 3, 125 3, 040 112, 450 54, 515
160, 180 2, 305 2, 660 104, 000 51, 215
146, 905 1, 485 2, 280 95, 225 47, 915
134, 211 665 1, 900 87, 100 44, 546
122, 254 1, 520 79, 625 41, 109
110, 480 1, 140 71, 825 37, 515
98, 210 760 63, 700 33, 750
85, 570 380 55, 250 29, 940
72, 545 46, 475 26, 070
59, 840 37, 700 22, 140
46, 765 28, 600 18, 165
33, 660 19, 500 14, 160
19, 875 9, 750 10, 125
8, 075 6, 075
2, 025 2, 025
$1, 458, 455 11, 525 17, 100 932, 750 497, 080
_,--R�
(Exhibit 33)
76-
City of Brooklyn Center
N OTES TO FINANCIAL STATEMENTS
Year 1975
Note 1: Summary of Signi.ficant Accounting Policies
A. Funds The basic accounting and reporting entity
of the City is a"fund". A. fund is defined
as an independent fiscal and accounting entity
with a self-balancing set of accounts recording
cash and/or other resources together with all
related liabilities, obligations, reserves and
equities which are segregated for the purpose
of carrying on specific activities or attaining
certain objective in accord with special
regulations, restrictions or limitations.
B. Bases of Accountin�
Both the accrual basis and modified accrual
basis of accounting are utilized by the City
when recording the transactions in the various
funds. Accrual accounting is defined as
revenues being recorded at the time they are
earned, and expenditures are recorded when
the liability for thern is incurred. The modified
accrual basis is defined as that rnethod of
accounting in which expenditures, other than
accrued interest on general long-term debt,
are recorded at the time the liabilities are
incurred, and revenues are received in cash,
except for material or available revenues
which should be accrued to reflect properly
the taxes levied and the revenues earned.
The basis of accounting by fund is:
Fund Basis of Accountin�
General Fund Modified Accrual
Special Revenue Funds
Park Concessions Fund Accrual
Federal Revenue Sharing Modified Accrual
-77-
City of Brooklyn Center
NOTES TO FINA.NCIAL STATEMENTS
Year 1975
Note 1:
C ontinued
Fund Basis of A.ccounting
Capital Projects Funds
Open Space A.cquisition
and Development A.ccrual
Capital Projects Accrual
Municipal State A.id Accrual
Debt Service Funds Accrual
Municipal Liquor Fund A.ccrual
Public Utilities Fund A.ccrual
Trust and A.gency Funds
Brooklyn Center Fire Relief Accrual
Brooklyn Center Public
Employees' Retirement
A.ssociation Accrual
Brooklyn Center Housing and
Redevelopment A.ccrual
Brooklyn Center Police Pension A.ccrual
Investment Trust Fund A.ccrual
Special Assessrnent Funds Accrual
General F�ed Assets Group Accrual
Statement of General Long-Term
Debt and Interest A.ccrual
C. Fixed A.ssets and Depreciation Policies
Enterprise and Public Service Funds: The
fixed assets of the Enterprise and Public
Service Fund are stated at cost. Depreciation
has been provided using the straight line
method over the estimated useful lives of the
assets. Public Utility assets financed by
special assessments are recorded as contri-
butions in aid of construction.
-78-
City of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
Year 1975
Note 1:
Continued
C. Fixed Assets and Depreciation Policies
General Fixed Assets: The general fixed assets
of the City, those assets not accounted for in
other fund groups, are accounted for in a
separate self-balancing group of accounts
1 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 depreciation is
recorded on the assets included in the General
Fixed Asset Group of Accounts.
D. General Long-Term Debt
The general long-term liabilities, except for
the Special A ssessment 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 of A.ccounts.
E. Investments
Investments are carried at cost which approx-
imates market. Interest income is recorded
as earned and is allocated annually to the
respective funds on the basis of the participat-
ing funds investment in the Investment Trust
Fund.
F. Budgets
Financial control of spending for various
governmental activities is exercised through
the use of budgetary procedures. Exclusive
authority over all budget matters remains with
the Council. The Council approves all budgets
and any amendments to those budgets also
requires specific approval by the Council.
Budgetary reporting is included in this report,
in the following funds General Fund, Open
Space Acquisition and Development Fund,
Capital Projects Fund, Municipal State Aid for
Construction Fund, and the Special Assessment
Funds. _?9_
City of Brooklyn Center
NOTES TO FINANCTAL STATEMENTS
Year 1975
Note 1:
Continued
G. Severance and Vacation Pay Policies
The City pays employees severance pay upon
termination of employment based on accurnulated
sick leave and accrued vacation. Severance,
vacation and sick leave pay are recorded as an
expenditure when paid. A.t December 31, 1975,
the City had a liability of $68, 418 for accrued
vacation pay and a liability of $65, 634 for
accumulated sick leave.
Note 2; All Funds
The "Combined Balance Sheet All Funds and Account
Groups (Condensed Form)" as shown on Exhibit 1 is presented
as an information statement only. The reader is cautioned that
the figures as shown under the "Combined Total" column are a
combining of unlike purpose groups (funds) and cannot be con-
strued as indicative of the overall financial position of the City.
The financial position and results� of operations of each fund
should be ascertained by reference to individual exhibits as
submitted for that fund within this report.
Note 3: Municipal Liquor Fund
Merchandise inventories are valued at current wholesale
prices and the amount of cash discounts and prornotiona.l dis-
counts are taken into income as a reduction of cost of sales
during the year of purchase. This method of accounting for
inventory and discounts facilitates the preparation of internal
management reports because it establishes a uniform basis
for the measurement of gross profit margins. The uniformity
in the measurement of gross profit rnargin is necessary for the
functioning of sound internal control. (The perpetual inventories
are verified by count periodically and the gross profit margins
are examined in the light of past experiences to detect any
variances that may exist. This rnethod of valuation overstates
the inventory account, and understates the cost of goods sold
which then causes a corresponding over statement in the gross
p rofit and in the net income of the liquor fund. The Decernber
31, 1975 and 1974 inventories are overstated by approximately
$15, 000 and $14, 000 respectively. The effect on operations
for the year 1975 is to overstate net incoxne by approximately
$1, 000 which is considered immaterial.
-80-
City of Brooklyn Center
NOTES TO FINA.NCIA.L STATEMENTS
Year 1975
Note 3: Municipal Liquor Fund
Cont'd The other accounts receivable in the amount of $11, 086
represents an amount due from a group of liquor wholesalers.
Pursuant to terms of a court-ordered judgement the receivable
will be collected over a four-year period provided that the
City makes purchases from these wholesalers. At each year
end these wholesalers remit to the City amounts based on
purchases made during the previous year.
Because of the restrictive terms of the judgement, the
gain attributable to this transaction has been credited to
deferred income and is being amortized and recognized into
income over the period of collection of the receivable.
The Humboldt Square Store occupies space in the
Humboldt Square Shopping Center under terms of a lease
which expires during 1978. The Brooklyn Boulevard Store
is located on city-owned property. The Northbrook Store
is located in the Northbrook Shopping Center and is occupied
pursuant to terms of a lease which expires October 31, 1976.
Note 4: Public Utilities Fund
Public Utilities revenue bonds were issued during 1963 for
the purpose of financing an addition to the wate r works system.
These bonds, together with related interest and service charges,
are payable solely from the Public Utilities Fund and are not
considered a general obligation of the City. The resolution
authorizing and directing the issuance of these bonds defines the
method of accounting for the utilities fund and imposes certain
covenants and restrictions which serve the purpose of protecting
creditors' interests.
As required by Paragraph l0e of the issuing resolution, an
analysis of each account balance appears below
Construction Account (Exhibit 15)
Proceeds of bond sale $1, 000, 000
Add: Investrnent earnings thru 1974 325, 381
1975 investment earnings 6, 237
Total Investment Earnings (Exh. 15) 331, 618
Deduct: Construction expenditures thru 1974 $1, 269, 24?
1975 construction expenditures 478
Total Construction Expenditures $1, 269, 725
Cons truction Account B alance (Exhibit 15) 61, 893
-81-
1�
City of Brookl�n Center
NOTES TO FINANCIAL �TA.TEMENTS
Year 1975
Note 4: Public Utilities Fund
Cont' d
Debt Retirement A.ccount (Exhibit 15)
Accumulated amounts set aside to
meet 1976 requirements for interest
and princip al
Investments with accrued interest 63, 519
Reserve account investments 75, 000
Total Debt Retirement Account 138, 519
A. summary which reconciles restricted assets with restricted
surplus and also compares restricted surplus with restriction
requirements as set forth by the resolution authorizing the sale
of revenue bonds is presented below:
Revenue
Construction Bond Reserve
Account A.ccount Account
Restricted A.s sets 12 31 75 61, 893 63, 519 7.5, 000
Restricted Surpluses at 12 31 75 61, 893 63, 519 75, 000
Investments ($2, 989, 412)
Since 1963 the Public Utilities Fund has been accumulating
cash for the purpose of expanding the investment in plant and
equipment to supply water to the residents of the City. The present
plans for expansion of the facilities has a cost estimate of $6, 184, 000.
The plan includes capital outlays for the construction of water mains,
a 1. 5 MG water tower and a 10 MG water treatment plant with com-
pletion estimated during 1978. To date $2, 989, 412 has been
accumulated and set aside for the purpose of partially meeting the
financing requirements for the planned expansion.
Note 5: Public Utilities Fund Metro Waste Control Commission Receivable
and Reserves
Pursuant to ena.cted legislation (Metropolitan Sewer A.ct
Chapter 449 Session Laws) the Metropolitan Waste Control Commission,
as of Janua 1 197 assumed ownershi of all existin interce tors
rY
P g P
and treatment works needed to implement a comprehensive plan
for the collection, treatment, and disposal of sewage in the seven
county metropolitan area.
-82-
City of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
Year 1975
Note 5: Public Utilities Fund Metro Waste Control Commission Receivable
Cont'd Under the terms of the A.ct the Commission is obligated to
reimburse each local government for the cost of facilities acquired.
This cost or purchase price of facilities is based on depreciated
replacement cost value as of December 31, 1970 as deterrnined 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%. 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 1975 consisted of principal and
i nterest and the amount of credit offset against 1975 sewer service
billings totaled $8, 741 leaving a balance due over the next 25
years of $212, 681. (Exhibit 15)
Note 6: Summary Statement of General Long-Term Debt and Interest
Special assessments which relate to irnprovements benefiting
City-owned properties total $254, 223 as of December 31, 1975.
The payment for these improvements (with no interest charge) has
been scheduled over a period extending through 1985. These assess-
ments are obligations of the general fund and payrnent is planned under
normal budget procedures, whereby the needed monies will be appro-
priated during the years as each installment becomes due.
Note 7: Pension Plans and Pension Funds
The City participates in three pension plans and pension funds
as follows:
1) A11 City employees with the exception of the sworn police
officers and the volunteer firemen are covered by the Public Em-
ployees' 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.
ThP City contributes, on behalf of its employees, 5. 5% to 10. 5%
of its employees' salaries to this plan. During 1975 this contribution
amounted to $126, 301.
-83-
City of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
Year 1975
Note 7: Pension Plans and Pension Funds
Cont'd 2) The City contributes to the Brooklyn Center Firemen's
Relief A.ssociation, an independently administered retirement
plan for the City's volunteer firemen. The benefits of this
plan are established by the Minnesota Legislature and the
financing of the plan is provided for by a state tax on fire
insurance premiums and the City's ad valorem tax. A.ctuarial
studies of retirement needs are made periodically to determine
the contributions to the Association. According to a study dated
December 31, 1974, the Association had an actuarial deficit
of $83, 486. In order to maintain the current level of benefits and
retire the deficit within 13 years, annual payments of $28, 180
are required. $19, 716 of the payment will maintain the current
benefit level and $8, 464 of the payment was determined to fund
the deficit over a 13-year period.
During 1975 the Brooklyn Center Fire Relief Association was
paid a total of $63, 540. The payment was financed by the state
tax on fire insurance policies in the amount of $28, 593 and an
ad valorem levy in the amount of $34, 947.
3) The Police Pension Fund is administered by the City for its
sworn police officers. A.ccording to a study dated December 31,
1974, the Police Pension Fund had an actuarial deficit of $60, 605.
In order to maintain the current level of benefits and retire the
deficit by the Year 2007, annual payments of $66, 2?0 are required.
$62, 663 of the payment will maintain the current benefit level
and $3, 607 was the payment determi.ned to fund the deficit by the
Year 2007. During 1975 payments of $99, 248 were made to the
Fund. These payments were financed by an ard valorem tax of
$50, 942, a state tax on automobile insurance premiums in the
amount of $22, 262 and contributions by the employees in the
amount of $26, 044.
Note 8: Contingent Liabilities
In addition to the long-term debt included in the General
Long-Term Debt Group of Accounts, 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.
-84-
TABLE OF CONTENTS
Statistical Information Section Schedule Paqe Number
Assessed Value and Estimated True Value
and Market Value of All Taxable Property
by Budget Years I 1
Tax Rates and Tax Levies
Years 1953 thru 1976 II 2
Notes to Tax Rates and Tax Levies
Years I954 thru 1976 III 3
Tax Levies and Tax Collections
Last Ten Years IV 4
Special Assessment Collections
Last Ten Years V 5
Revenues Other Than Property Taxes and
Special Assessments
Last Ten Years VI 6
Expenditures for Selected Functions
La st Ten Years VII 7
Ratio of Net Bonded Debt to Assessed
Value and Net Bonded Debt Per Capita
Last Thirteen Years VIII 8
Statement of Legal Debt Margin,
December 31 1975 IX 9- 10
Computation of Direct and Overlapping
Debt, December 31 1974 X 11
Ratio of Annual Debt Service Expenditures
for General Bonded Debt to Total General
Expenditures Last Ten Years XI 12
Schedule of Revenue Bond Coverage
Last Ten Years XII 13
Miscellaneous Statistical Facts
December 31 1975 XIII 14 16
Citv of Brooklvn Center Schedule I
ASSESSED VALUE AND ESTIMATED TRUE VAI.UE AND
MARKES VALUE DF ALL TAXABLE PROPERTY
Bv Budqet Years
1968 1969 1970 1971 1972 1973 1979 1975 1976
Population 31,000(E) 34.306(E) 34,717(E) 35.173 36 370(E) 36,908(E) 37,207(E) 36,954(E) 3�081(E)
Real Propertv
Assessed Value:
Homestead S 10,148,539(2) 11,9'70,877(2) 12,472,359(2) S 6,882,636 15,956,478(2) 52,150,596{2) S 53,857,283(2) 55,031,870(2) S 62,354,181(2)
Non-Homestead 5,093,781 7,369.710 8.173,952 19,069,306 10,500,479 36,527.538 40.147,670 42,501,704 4�138,412
TotalAssessed Value 15.242,320 19,340.587 S 20.646,311 25,971,942 26,456,957 88,678,134(3) 94,004,953(3) 97,533,574(3) 5109,492,593(3)
Estimated Value:
Full and True S 47,862,541 S 58,283.382 S 61,796,482 S 75,340,288 S 76,641,045
Market S143.587.623 5174,850,146 $185,389.446 5226,020,864 $229.923,135 5249,328,665 $262,535�943 $270,699,261 5332,256,273
Personal Prooertv (1) (1) (1) (1)
Assessed Value S 1,574,574 S 1,603.159 1,619.077 S 1,588,260 S 1,313,422 2,403.743 2.657,185 S 2,852,992 S 2,800,885
Estimated Value:
Full and True 3,410,110 S 3,510.323 3.548,068 S 3,464,717 3,576,728
Market S 10,230,330 S 10,530.969 S 10,644.204 S 10,394.151 S 10.730,184 5,590,100 S 6,179.500 6,634,865 S 6,505,874
Total Real and Personai Prooertv
Assessed Value S 16.816.894 S 20.943,746 22,265 3�88 S 27,560,202 S 27,770,379 S 91,081,877 96,662,138 $100,386,566 $112,293,478
Estimated Full and True Value S 51.272.651 S 61,793.705 S 65,344.550 S 78,805,005 80,217,773
Estimated Market Value 5153.817.953 5185,381.115 5196.033.650 $236,415,015 5240,653,319 $254,918,765 $268,715.443 S277.334,126(4) 5338,762,147(4)
Ratio of Total Assessed Value to Total
Estimated Fuli and True Value .32799:1 .33893:1 .34074:1 .34973:1 .34619:1
Estimated Market Value .10933:1 .11298:1 .11358:1 .11658:1 .i1540:1 .35730:1 .35972:1 .36197:1 .33146:1
Per Capita Valuations
Assessed Value S 509.60 S 610.50 641.34_ S 783.56 S 763.55 S 2,467.81(3) S 2,597.96 S 2,716.53(3) S 3,028.33(3)
Estimated Full and True Value �L-SS.'�-�2 S 1,801.25 S 1,882.21 S 2.240.50 S 2.2D5.60
Estimated Market Value 4.661.15 S 5.403.75 S 5,646.61 6,721.49 S 6.616.81 S 6,906.87 S 7,222.17 S 7.504.85 S 9.135.73
Notes to Schedule
(1) Includes $306,708 exempt property for replacement tax purposes authorized by laws of 1967, Chapter 32, extra session
{2) Includes excess homestead
(3) Determination of assessed valuation calculation changed by state law enacted in 1971; assessed value is now approximately three times as great as before the
enactment of the new law.
(4) Property values do not include net assessed valuation allocated pursuant to laws 1971, extra session, Chapter 24, from area-wide "pool".
-1-
w
Citv of Brooklyn Ccnter Schedule Ii
TAX RATES AND TA}; LEVIES
Years 1957 Throuqh 1976
Area School District County Total Citv, School, Coiintv and State N.H.S,
Year Voc-Tech #286 #279 #281 #11 Special State Dist. �286 Dist. �279 Dist. �281 Dist. =11
Collectible City School (Earle Brown) (Osseo) (Robbinsdale) (Anoka) ]=�istricts(7) N.H.S. H.S. (Earle BrownJ (Osseo) (Rorbinsdale) (Anokai
�l) �2) �3) �4)
Tax Rates Mills Per $100 of Assessed Value
1957 44.00 106.60 ll9.90 108.64 96.55 31.87 9,15 3.81 151.62 219.92 193.66 181.57
1958 46.47 126.91 119.51 108.64 90.15 38.13 12.62 6.01 224.13 216.73 205.80 187.37
1959 52.05 130.94 146.66 115.18 104.95 39.32 12.92 5.90 234.73 250.95 218.97 208.74
1960 51.00 167.56 157.64 120,10 114.70 40.14 14.32 8,10 273.02 263.10 225.56 22G.16
1961 48.26 189.64 163.00 139.20 123.53 41.46 13.85 6.84 293.21 266.57 242.77 227.10
1962 48.54 211.59 179.99 158.69 134.00 45.40 15.51 6.39 321.04 289.44 268.14 243.95
1963 50.12 219.00 184.62 154.72 131.09 47.23 16.85 8.31 333.20 298.82 268.92 245.29
1964 50.68 225.60 189.62 150.08 134.85 52.51 17.14 8.22 345.93 309.95 270.41 255.18
1965 49.80 215.26 195.50 154.72 144.77 59.69 16.14 6.84 340.89 321,13 280.35 270.40
1966 41.62 227.22 199.98 155.00 153.23 55.66 18.42 18,32 352.92 325.68 280.70 278.93
1967 51.62 227.90 203.00 158.76 160.00 53,30 17.24 17.14 349.89 324.99 280.75 281.99
1968 51.34 236.29 211.80 163.56 188.32 64,77 352.40 327,91 279.67 304.43
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 77.18 425.89 426.76 346.35 424.49
1971 44.11 7.96 250.31 216.00 204.90 257.09 77.02 379.40 345.09 333.99 378.22
1972 43,04 10.38 183.24 166.09 147.20 173.68 80.45 317,11 299.96 281.07 297.17
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(S) 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)
Area Tax Levies on Propertv Within Brooklvn Center County Total City,
Year Voc-Tech Total Special Schools,
Collectible School #286 #279 #281 #11 School Districts(7) CitY State C ountv State
1957 239,666 76,912 170,396 24,547 511,521 214,395 207,532 27,859 961,307
1958 303,466 134,960 202,292 24,298 665,016 309,786 262,840 48,723 1,286,365
1959 327,629 237,021 228,9�7 30,387 823,954 252,434 333,000 54,601 1,463,989
1960 427,311 465,174 248,382 42,211 1,183,078 479,907 404,905 84,515 2,152,405
1961 497,907 665,299 320,697 43,880 1,527,783 451,594 452,289 91,090 2,522,756
1962 551,349 771,611 367,691 59,153 1,749,804 440,294 470,746 98,108 2,758,952
1963 587,665 830,918 524,099 76,198 2,018,880 528,874 561,236 139,015 s,248,005
1964 622,578 883,842 526,189 100,102 2,132,711 615,335 593,890 147,785 3,489,721
1965 668,961 976,585 614,756 140,923 2,401,225 779,230 650,137 153,954 3,984,546
1966 728,353 1,003,287 623,412 171,926 2,526,978 744,231 690,212 245,668 4,207,089
1967 836,669 1,142,570 790,174 210,428 2,979,841 828,401 804,858 268,168 4,881,268
1968 888,684 1,200,483 901,846 295,160 3,286,173 1,069,364 847,6;i2 5,203,169
1969 16,096 1,238,004 1,724,773 1,317,751 535,263 4,831,887 1,944,592 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
(1) Formerly #118 (2) Formerly #Z8 (3) Formerly #24 (4) Formerly #29, #220 (5) Due to �etermination of assessed valuation calculation changed by state law enacted in 1971
Includes tax le for the Housin and Re v m n u h r'
(6) vY g de elop e t A t o ity of Brooklyn Center, the resulting mill rate is approximately one-third as �reat as before the enactment of the
(7) Includes Metro Council, Metro Transit Commission, Mosquito Control District, new law.
Park Museum.
-2-
Schedule III
Citv of Brooklvn Center
NOTES TO TAX RATES AND TAX LEVIES
Years 1957 Throuah 1976
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 special assessments for
local improvements not included in above limitation.
Taxes Due Date:
First Monday in January
Taxes Delinquent Date:
Personal Property March 1- amounts over $10.00 first half
March 1, second half July 1
Real Estate first half May 31; second half October 31
No discount allowed
Penalties for Delinquency; (Amended, Laws 1974, Chapter 459)
Personal Property 8%
Homestead Real Estate June 3%, july 4%, August 5%, September 6%,
October 7%, November and December 8%; after first Monday in
January 10%.
Non-Homestead Real Estate June 7%, July 8%, August 9%,
September 10%, October 11%, November and December 12%;
After first Monday in January 14%.
Tax sale date second Monday in May
Taxes are certified to Hennepin County and collected by the
County Treasurer and remitted to the City.
Tax collections are distributed in the proportion of the City levy
to all levies.
-3-
Schedule IV
Citv o£ Brooklvn C enter
TAX LEVIES AND TAX COLLECTIONS
Last Ten Years
Ratio of
Collections Percentage Collections Accumulated
of Current of Levy of Prior Ratio Delinquent
Total Year's Taxes Collected Year's Taxes of Total Accumulated Taxes to
Year Tax During Fiscal During £iscal During Fiscal Total Collections Delinquent Current Year
Collected Levy Period Period Period Collections to Tax Levv Taxes Tax Levv
1966 683,060 674,192 98.70 $13,069 687,261 1.0062:1 23,619 ,03458:1
1967 799,792 776,663 97.11 7,710 784,373 .9807:1 38,737 .04843:1
1968 868,807 851,452 98.00 14,205 865,657 .9964:1 45,011 .05181:1
1969 1,068,236 1,036,863 97.06 16,612 1,053,475 .9862:1 59,742 .05593:1
1970 1,112,080 1,086,177 97.68 20,620 1,106,797 .9952:1 65,026 .05847:1
i971 1,224,739 1,112,685 90.85 22,252 1,134,937 .9267:1 30,326 ,02476:1
1972 1,195,237 1,163,912 97.38 96,219 1,260,131 1,0543:1 48,409 .04050:1
1973 1,353,452 1,302,941 96.27 19,480 1,322,421 .9771:1 42,173 ,03116:1
1974 1,518,271 1,442,873 95.03 34,450 1,477,323 .9730:1 89,357 .05885:1
1975 1,803,430 1,710,205 9A.83 61,792 1,771,997 .9826:1 146,401 ,08120:1
Note: The City's taxes are the only ones included in this table.
-4-
Citv of Brooklvn Center Scheduie
SPECIAL ASSESSMENT CnLLECTIONS
Last Ten Years
Current Special
Assessments AmounY Ratio of Total Current and Current
Installments Becoming Collected Current Delinquent Percentage Balance
£iscal Due During Currently During Collections to Assessments Uncollected Collected Uncollected
Period the Fiscai Period the Fiscai Period Amount Due At Year End Throuqh 12/31 Throuah 12/31
1956 $429,759 $394,942 .9190:1 $135,667 104.22 $(18,146)
1967 490,397 458,324 .9346:1 128,705 99.75 1,204
1968 505,409 466,466 .9229:1 142,441 99.72 1,937
1969 538,959 476,727 .8845:1 136,043 98,69 7,049
1970 680,198 605,385 .8900:1 165,592 99,37 4,270
1971 844,933 660,490 ,7817:1 232,717 97.83 18,354
1972 807,317 647,695 .8023:1 270,543 97.19 22,717
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 717,480 512,779 ,7147:1 314,700 71.47 204,701
-5-
Schedule `/I
Citv of Brooklyn Cemer
REVENUES OTHER THAN PROPERTY TAXES
AND SPECIAL ASSESSMENTS
Last Ten Years
Charges for Revenue in Excess
Penalties and Current of Expenditures
Fiscal Interest From Licenses Fines and Shared Services and Other Public Liquor
Period Propertv Taxes and Permits Forfeitures Taxes Revenue Utilities Stores
1966 S 8,973 50,489 $22,126 $156,536 $273,904 $109,256 $114,227
1967 12,297 55,005 20,416 232,615 158,536 125,962 125,310
1968 7,464 82,098 3i,490 325,221 196,588 131,280 146,551
1969 6,296 77,773 44,031 296,639 400,944 161,925 175,884
1970 10,076 49,859 57,970 376,359 173,266 331,351 172,761
1971 31,792 67,837 53,638 414,936 270,607 276,935 168,406
1972 17,471 110,455 37,172 612,277 285,669 278,089 133,972
1973 17,914 96,006 53,862 669,556 277,512 527,510 123,316
1974 45,226 88,922 38,644 652,343 402,197 435,931 134,995
1975 16,681 101,380 42,940 645,441 368,503 381,458 150,902
-6-
Schedule VII
Citv of Brooklvn Center
EXPENDI TURES FOR SELECTED FUNCTIONS
Last Ten Years
Fiscal General Public Safety Parks and
Period Government and Welfare Hiahwavs Recreation
1966 $218,335 $29Q,232 $306,616 $310,219
1967 217,138 338,187 326,357 235,834
1968 244,010 391,394 359,428 235,723
1969 250,841 449,426 484,154 238,011
1970 279,404 511,462 407,615 337,106
1971 444,061 648,149 452,245 481,854
1972 496,377 588,607 463,321 478,385
1973 494,968 587,443 500,840 466,642
1974 546,649 700,438 522,297 484,811
1975 628,341 761,670 599,314 543,271
t
t
-7-
Schedule VIII
Citv of Brooklyn Center
RATIO OF NET BONDED DEBT TO ASSESSED VALUE
AND NET BONDED DEBT PER CAPITA
Last Thirteen Years
Gross Less: Amount Ratio of Net Bonded Debt to Net Bonded
Fiscal Estimated Assessed Bonded In Debt Net Bonded Assessed Debt Per
Period Population Value* Debt Service Funds Debt Values* Capita
1963 28,203 33,593,520 $5,396,100 920,472 $4,475,628 .1332:1 $158.69
1964 29,024 35,155,290 5,607,800 1,031,779 9,576,021 .1302:1 157.66
1965 30,108 39,163,863 5,188,500 1,591,659 3,596,841 .0918:1 119,46
1966 31,500 40,113,051 5,263,200 1,499,096 3,764,104 .0938:1 119.49
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 1,966,325 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
*Assessed value has been restated for years prior to 1972 so as to be on a basis comparable to 1972.
-8-
Schedule IX
Citv of Broo�lvn Center I
STA'TEMENT OF LEGAL DEBT MARGIN
December 31 1975
Assessed value, January 1, 1975 $112,293,478*
Debt limit 6.67% of assessed value See Note A) 7,489,975
Total bo�ded debt $7,605,000
Deductions (See Note B):
1 Debt Service Funds
(General Obligation) 235 844
2. S ecial Assessment
P
Bonds 3,925,000
3. State Aid Street Bonds 930, 000
4. Utility Revenue Bonds 695 000 5, 785 844
Total Debt Applicable to Debt Limit 1, 819 ,15 6
Leqal Debt Marcrin, December 31 1975 5, 670 819
1
*I�cludes $133,422 credited from "Fiscal Disparity" areawide tax base.
Note: (A) M.S.A. Section 475.53 (see following page)
Nat�: (B) M. S.A Section 475 51 (see following page)
-9-
Schedule IX
(Cont'd)
Citv of Brooklvn Center
STATEMENT OF LEGAL DEBT MARGIN
December 31 1975
Note (A)
M.S.A. Section 475.53 et seq. Limit on Net Debt
"Subdivision 1. Generally, except as otherwise provided in sections
475.51 no municipality, except a school district or a city of the first
class, shall incur or be subject to a net debt in excess of 6.67 per
cent of the assessed value.
Note fB)
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 payment of any debt, and the
aggregate of the principal of the following:
(1) Obligations issued for improvements which are payable wholly
or partly from the proceeds of special assessments levied upon
property specially benefited thereby, including those which are general
obligations of the municipality issuing them, if the municipality is
entitled to reimbursements in whole or in part from the proceeds of the
special assessments.
(2) Warrants or orders having no definite or fixed maturity.
(3) Obligations payable wholly from the income from revenue-
pro�ucing conveniences.
(4) Obligations issued to �reate or maintain a permanent improvement
revolving fund.
(5) Obligations issued for the acquisition, and betterment of public
water-wo:ks systems, and public lighting, heating or power systems,
and of any combination thereof or for any other public convenience
from which a revenue is or may be derived.
(6) Amount of all mor:ey and the face value of all securities held as
t a sinking fund for the extinguishment of obligations other than those
deductible under this subdivision.
(7) All other obligations which under the provisions of the law
authorizing their issuance are not to be included in computing the net
debt of the municipality e"
-10-
Sch�dule X
Citv of Brooklvn Center
COMPUTATION OF DIRECT ANL OVERLAPPING D£BT
December 31 1 975
Citv of Brooklvn Center
Gross Sinking Net Share
Governmental Unit Debt Funds Debt Per Cent Amount
Direct and Overlaooina Debt
Direct Debt:
City of Brooklyn Center 7,605,000 S 2,115,984 5,489,016 100.00% S 5,489,016
Overlapping Debt:
School Districts:
No. 281 (Robbinsdale) 31,573,000 4,383,579 27,189,421 10.20% 2,773,321
No. 11 (Anoka) 44,971,780 3,000,055 41,971,725 5.90% 2,476,332
No. 279 (Osseo) 27,015,104 3,979,227 23,035,877 26.80% 6,173,615
No. 286 (Brooklyn Center) 2,100,000 134,456 1,965,544 100.00% 1,965,544
Area Voc. Tech. School:
No. 287 21,800,000 2,838,504 18,961,496 9.90% 929,113
Metra Transit 12,100,000 2,622,049 9,477,951 1.50% i42,169
Metro Council 36,380,000 3,065,000 33,315,000 1.50% 499,725
Hennepin County:
Park District 10,475,000 816,070 9,658,930 2.70% 260,791
Government Center 14,400,000 346,927 14,053,073 2070% 379,433
Libraries 13,325,000 841,187 12,483,813 4.80% 599,223
Medical Center 21,875.000 2,781,296 19,093,704 2.70% 515,530
Total Overlapping Debt 5236.014.884 $24,808,350 $211,206,534 $16.714,796
Total Direct and Overlapping Debt S243,619.884 526 .924.334 $216,695,550 522.203,812
(1) Includes $2,211,247 net debt outstanding to be paid from special assessments, $930,000 debt outstanding on State Aid Street Bonds, and $528,613 net debt outstanding
on revenue bonds.
Direct Overlapping
Com�arative Net Debt Ratios Charaeable to Citv Total Debt Debt
Debt to assessed value ($112,293,478j 19.77% 4,89% 14.88%
Debt to market value ($338,762,147) 6.55% 1.62% 4.93%
Percapita debt (Population 37,081) $598.79 $148.D3 $450,76
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Schedule XI
Citv of Brooklvn Center
RATIO OF ANNUAL DEBT SERVICE EXPENDITURES FOR GENERAL
BONDED DEBT TO TOTAL GENERAL F3CPENDITURES
Last Ten Ye�rs
Total Total Ratio of Debt
Debt General Service to General
Year Principal Interest Service Expenditures Expenditures
1966 50,800 24,213 S 75,013 $1,335,428 5.62%
1967 59,400 22,280 81,680 1,185,075 6.89%
1968 51,000 19,604 70,604 1,369,842 5.15%
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 2,295,308 16.73%
1974 180,000 209,397 389,397 2,677,994 14.54%
1975 185,000 198,708 383,708 3,072,583 12.49%
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Schedule XII
Citv of Brooklvn Center
SCHEDULE OF REVENUE BOND COVERAGE
Last Ten Years
Net Ratio of Net
Gross (1) Revenue DebtService Revenue to
Year Revenue Expenses Available Principal Interest Total Debt Service
1966 S 753,829 $269,371 $484,458 $38,000 $41,305 $79,305 6.1 to 1
1967 669,098 282,528 386,570 38,000 39,816 77,816 5.0 to 1
1968 743,316 292,818 450,498 38,000 38,350 76,350 5.9 to 1
1969 854,367 360,249 494,118 40,000 36,775 76,775 6.4 to 1
1970 1,060,322 400,824 659,498 45,000 35,200 80,200 6.2 to 1
1971 1,140,730 558,189 582,541 45,000 34,300 79,300 7.3 to 1
1972 863,111 447,567 321,106 30,000 31,767 61,767 5.2 to 1
1973 1,053,238 383,000 700,238 30,000 30,525 60,525 11.6 to 1
1974 1,048,447 471,046 577,401 30,000 29,400 59,400 9.7 to 1
i975 1,107,926 556,573 551,353 30,000 28,275 58,275 9.5 to 1
(1) Faccludes depreciation and interest on bonds.
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Citv of Brooklvn Cent�:r Schedule XIII
MISCELLANEOUS STATISTICAt FACTS
December 31 1975
Date of Incorporation February 14, 1911
Date of Adoption of City Charter November 8, 1966
Effective December 8, 1966
Form of Government Council-Manager
Fiscal Year Begins January 1
Area of City 8-1/2 square miles
Miles of Streets:
City 99
State 12
County 6
t Miles of Storm Sewers 37
Number of Street Lights 850
Building Permits:
Number of Permits Issued:
1975 645
1974 423
1973 390
1972 708
1971 425
1970 404
1969 460
1968 544
1967 493
1966 430
1950 1965 inclusive 9,917
Estimated Cost:
1975 5,972,910
1974 6,968,172
1973 5,110,140
1972 19,907,041
1971 8,487,763
1970 7,499,386
1969 10,441,322
1968 13,111,654
1967 7,922,813
1950 1966 inclusive $113,669,545
Fire Protection:
Number of Stations 2
Number of Volunteer Firemen 40
Police Protection:
Number of Stations 1
Number of Employees 38
Vehicle Patrol Units 10
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City of Brooklyn Center Schedule XIII
MISCELLANEOUS STATISTICAL FACTS (Cont'd)
December 31 1975 t
Parks and Recreation:
288 acres developed for regular use. 200 additional acres of City-owned
land designated for parks and playgrounds to be developed.
Full-time employees 14
Part-time employees 350 (seasonal)
Supervised playgrounds 17
Park shelters 17
Ice skating rinks 17
Hockey rinks 6
Softball diamonds 26
Baseball diamonds 5
Wading pools 2
Tennis courts 10
Basketball courts 6
Education:
Public Schools:
School Districts within Brooklyn Center (4)
No. 11 No. 286 No. 281 No. 279,
(Anoka) (Earle Brown) (Robbinsdale) (Osseo)
Total school buildings 34 2 26 17
School buildings within
Brooklyn Center 1 2 1 3
Total students registered 32 308 1, 902 24, 210 14,116
Students from Brooklyn t
Center registered 773 1, 902 1, 503 4,184
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
1975 assessed valuation 254,970,248 31,027,183 371,675,398 161,456,1�
1975 assessed valuation
in Brooklyn Center 14,276,771 31,027,183 33,228,691 33,760,833
Parochial Schools (1)
Sto Alphonsus School (grades 4- 8) Total students registered 257
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Citv of Brooklvn Center Schedule XIII
MISCELLANEOUS STATISTICAL FACTS (Cont'd)
December 31 1975
Municipal Water Plant:
Number of connections 7 ,199
Average daily consumption 3,187 208 000 gallons
Peak daily consumption 10 895 000 gallons
Plant capacity daily 12,384,000 gallons
Miles of water mains 106
Number of fire hydrants 759
Number of wells
Number of elevated reservoirs 3
Storage capacity 3, 000 000 gallons
Water rate per thousand gallons 35�
Municipal Sewer Plant:
Number of connections 96
Miles of sanitary sewer 97
Daily disposal capacity 7, 416 000 gallons
Number of lift stations 9
Residential rate $8.75 per quarter
Municipal Liquor Stores (Off Sale)
Number of owned stores 1
Number of leased stores Z
1g75 sales $1,954,222.74
City Employees:
As of December 31 1975
Permanent or regular 107
Temporary or part-time 150
Total 2 5
Elections:
General election 1972 19 ,142
Number of votes cast in general election 14, 807
Percentage of registered voters voting 77.4%
Registered voters last state election 19,664
Number of votes cast last state election 10 851
Percentage of registered voters voting 55.2%
Population:
1940 1 870
1950 4,284
1960 24,356
1965 (special census) 30,108
1970 35,173
1975 36,954
Estimated residential saturation point 49, 000
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