HomeMy WebLinkAboutAnnual Audited Financial Report-1974 ANNUAL
AUDITED FINANCIAL REPORT
of the
I CITY MANAGER
of
BROOKLYN CENTER, MINNESOTA
For The Year Ended December 31, 1974
t DONALD G. POSS, CITY MANAGER
Prepared by
THE DEPAR
TMENT OF FINANCE
Paul W. Holmlund, Director
(Member of Municipal Finance Officers
1 Association of the United States and Canada)
Citv of Broc�klvn Center
ANNUAL FINANCIAL REPORT
For the Year Ended December 31, 1974
TABLE OF CONTENTS
Exhibit Page
Numbe r Numbe r
Certificate of Conformance 1, 2
r Listing of City Officials 3, 4
Organization Chart 5
Location of City Properties 6
Letter of Transmittal 7
General Comments 8, 9, 10, 11, 12, 13
Financial Statements Section
Auditor's Report 14
Combined Balance Sheet All Funds and Account
Groups (Condensed Form) December 31, 1974 1 15, 16
Gene ral Fund Stateme nts
Balance Sheet (Comparative) December 31, 1974
and 1973 2 17
Statement of Changes in Fund Balance (Comparative)
Year Ended December 31, 1974 and 1973 3 ig
Statement of Revenues, Expenditures, Encumbrances
and Transfers Years Ended December 31, 1974
and 1973 4 19
Statement of Revenue Budget and Actual
Objective Classification Year 1974 Sched. 4-A 20, 21
5tatement of Expenditures anc� Encumbrances
Budget and Actual Classified as to Activity
Character and Object Year 1974 Sched, 4-B 22, 23, 24, 25
Citv of Brooklvn Center
ANNUAL FINANCIAL REPORT
For the Year Ended December 31, 1974
TABLE OF GONTENTS
Exhibit Page
Numbe r Numbe r
Snecial Revenue Funds Statements
Combined Balance Sheet Com arative
P
December 31, 1974 and 1973 5 26, 27
Combined Ana,lysis pf Changes in Fund
Balance Year 1974 and 1973 6 2g, 29
Combined Statement of Revenue and Ex enditures
P
Years 1974 and 1973 7 30, 31
Ca nital Pr oiect s Fund Stat ements
Combined Balance Sheet (Comparative)
December 31, 1974 and 1973 8 32, 33
Combined 5tatement of Appropriations
Expenditures and Fund Balances
Years 1974 and 1973 q 34, 35
Debt Service Funds Statements
Combined Balance Sheet (Comparative)
Decembex 31, 1974 and 1973 10 36, 37
Combined Statement of Revenue, Expenditures
and Fund Balances Years 1974 and 1973 11 38, 3��
5necial Assessment Funds Statements
Combined Balance 5heet (Comparative)
December 31, 1974 and 1973 12 40, 41
Combined Statement of Revenue, Expenditures
and Unappropriated 5urplus for Debt
Retirement (Comparative) Years 1974 and
1973 13 42, 43
Citv of Brooklvn Center
ANNUAL FINANCIAL REPORT
For the Year Ended December 31 1974
TAB LE OF CO NTENT5
Exhibit Page
t Numbe r Numbe r
Svecial As.sessment Funds Statements� Cont'd
Construction Expenditure s Compared to
Appropriations and Assessxnent of Costs
Year 1974 14 44, 45, 46
Statement of Long-Term Debt (Principal
Amount Outstanding) December 31, 1974 15 47, 48
Public Service and Enternrise Funds Statements
Municinal Liquor Fund
Balance Sheet (Comparative) December 31,
1974 and 1973 16 49, 50
Analysis of Changes in Surplus (Comparative)
Year 1974 and 1973 17 51
Statement of Changes in Financial Position
Comparative) Years 1974 and 1973 18 52
5tatement of Income and Expense (Comparative)
Years 1974 and 1973 19 53, 54
Public Utilities Fund
Balance Sheet (Comparative) December 31,
1974 and 1973 20 55, 56
Statement of Changes in Financial Position
(Comparative) Years 1974 and 1973 21 57
Statement of Operations and Retained
Earnings (Comparative) Years 1974 and
1973 22 58
Water Department Operating Expenses
(Comparative) Years 1974 and 1973 23 59, 60
Sewer Department Operating Expenses
Comparative) Years 1974 and 1973 24 61, 62
Citv of B rooklvn Ce r�e r
ANNUAL FINANCIAL REPORT
For the Year Ended Deeember 31. 1974
TABLE OF CONTENTS
E xhibit Pa ge
Numbe r Numbe r
Public Service and Entert�rise Funds Statements. Cont'd t
Public Utilities Fund Cont'd
Summary 5tatement of Plant and Property
and Allowance for Depreciation
December 31, 1974 25 63, 64
Statement of Long-Term Debt (Revenu�
Bonds and Interest Coupons Outstanding)
December 31, 1974 26 65, 66
Trust and A¢encv Funds Statements
Combined Balance Sheet (Comparative)
December 31, 1974 and 1973 27 67, 68
Combined Statement of Revenue, Expenditures
and Fund Balances (Comparative)
Years 1974 and 1973 28 69, 70
Investment Trust Fund, Statements
Balance Sheet (Com arative)
P
Decembe r 31, 1974 and 1973 29 71, 72
Statement of Earnings Comparative)
Years 1974 and 1973 30 73
Changes in Participating Fund
Balances Year 1974 31 ?4
General Fixed Assets and General Lon�-Term Debt
Summary Statement of General Fixed Assets
December 31, 1974 32 75, 76
Summary Statement of General Long-Term Debt
and Interest (Comparative)
December 31, 1974 and 1973 33 77
1
Citv of Brooklvn Center
ANNUAL FINANCIAL REPORT
For the Year Ended December 31. 1974
TABLE OF CONTENTS
Exhibit Page
Numbe r Numbe r
General Fixed Assets and General Lon�-Term Debt. Coait'd
Schedule of General Long-Term Debt and Interest
by Maturitie s- De cembe r 31, 1974 34 78 79
Notes to Financial Statements
Note 1 All Funds 80
Note 2 All Fund s 8 0
Note 3 5necial Assessment Funds gl
Note 4 Municipal Liauor Fund 81
Note 5 Public Utilities Fund 82, 83
Note 6 Public Utilities Fund 83, $4
Note 7 Public Utilities Fund 84, 85
Note 8 Public Utilities F`un� 86
Note 9 Summarv 5tatement of General Lon�-Term
Debt and Inte re st 86
Note 10 Lib ra rv Sale s Fund 8 6
Note 11 Pension Plans and Pension F'unds 86
Note 12 Contin�ent Li.abilities 87
Citv of Brooklvn Center
ANNUAL FINANCIAL REFORT
For the Year Ended Decenzber 31. 1974
TABLE OF CONTENTS
Pag e
Schedule Numbe r
Statistical Information Section
Ass.essed Value and Estimated True Value and
Market Value of All Taxable Property by
Budget Years I 88, 8q
Tax Rate s and Tax Levie s
Years 1953 Through 1975 II 90, 91
Note s to Tax Rate s and Tax Levie s
Years 1954 Through 1975 III 92
Tax Levies and Tax Collections
Last Ten Years IV 93, 94
Special Assessments Collections
Last Twelve Years V 95. 96
Revenues Other Than Property Taxes and
Special Assessments
Last Ten Years VI 97, 98
Expenditures for Selected Functions
Last Ten Years VII 99
Ratio of Net Bonded Debt to Assessed Value and
Net Bonded Debt Per Capita
Last Twelve Years VIII 100, 101
Statement of Legal Debt Margin, December 31,
1974 IX 102, 103
Com.putation of Direct and Overlapping Debt
December 31, 1974 X 104, 105
Ratio of Annual Debt Service Expenditures for
General Bonded Debt to Total General
Expenditures Last Ten Years XI 106, 107
Schedule of Revenue Bond Cove rage
Last Ten Years XII 108, 109
Miscellaneous Statistical Facts t
December 31, 1974 XIII 110, 111, 112
THE MUNICIPAL FINANCE OFFICERS ASSOCIATION
OF THB UNITED STATES AND CANADA
lCttt[�it�c tijat
THE ANNUAL FiNANCIAL REPORT OF
1��e Cit of Bro ol�l n Cen teT �inn esota
v
�or the �ear. �nded De�ember3l, �966
SUBSTANTIALLY CONFORMS 'TO THE PRINCIPLES AND STANDARDS OF
PUBLIC FINANCUL REPORTING AS PROMIJLGATED $Y THE
�uaici�a[ ,�in�c �ffict�c S�g�ouativn
AND ?'HB
,�ationaY lCommittcc on iobctn�ttntai S�uountitt�
Piaented S e te m ber 1 6 7. C' Cwwiwtaer �w Aee I
P 9, 9 �...R, ..��s
js«..ns D�r.e,.
CIT Y OF BROOKLYN CENTER, MINNESOTA
CERTIFICATE OF CONFORMANCE
On September 19, 1967, the MUNICIPAL FINANCE OFFICERS ASSOCLATION OF THE
UNITED STATES AND CANADA certified that the Annual Audited Financial Report of the
City of Brooklyn Center, Minnesota For The Year Ended December 31 1966 conformed to
the principles and standards of public financial reporting as promulgated by the Municipal
Finance Officers Association and the National Committee on Governmental Accounting.
A Certificate of Conformance is awarded by the Municipal Finance Officers Association
N 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, 1974 continues
to conform substantially to such standards.
DEPARTMENT OF FINANCE
CITY OF BROOKLYN CENTER
Citv of B rooklvn C ente r
LISTING OF CITY OFFICIALS
For the Year Ended December 31, 1974
Elected Officials
Term of Office Term Exnires
Mayor Philip Cohen Two Years 12-31-75
Councilman Maurice Britts Three Years 12-31-74
Councilman Bill Fignar Three Years 12-31-75
Councilman Tony Kuefler Three Years 12-31-75
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 t
Administrative Assistant Daniel Hartman
Administrative Assistant James Lacina
Department Heads:
Finance Paul W. Holmlund
Public Works James Merila
Police Thomas G. O'Hehir
F'ire Donald Mason
Planning and Inspection A. Blair Tremere
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 Arnold Mavis
Health Officer R. I. 5hragg, M,D.
F'ire Marshall Donald Mason
Sanitarian John Urbach
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Citv o# Brooklvn Center
LISTING OF CITY OFF'ICIALS
At June 30, 1975
Elected Officials
Term of Office Term Expires
Mayor Philip Cohen Two Years 12-31-75
Councilman Maruice Britts Three Years 12-31-77
Councilman Tony Kuefler Three Years 12-31-75
Councilman Bill Fignar Three Years 12-31-75
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 Assistant James Lacina
Administrative Assistant Ronald Warren
Department Heads:
Finance Paul W. Holmlund
Public Works James Merila
Police Thomas G. O'Hehir
Fire Donald Mason
Planning and Inspection A. Blair Tremere
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 Arnold Mavis
Health Officer R. I. Shragg, M.D,
F'ire Marshall Donald Mason
Sanitarian John Urbach
Ctvil Defense Coordinator James Lindsay
1
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ORGANIZATION 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 City Manager Administrative Assistant
Human Rights Commission City Clerk
Purchasing Officer
ADVISORY
Parks and Recreation Commission
ADVISORY s Administrative Assistants
Planning Commission
I Civil
Defense
I
1
1� I I I I I I
DIRECTOR DIRECTOR CHIEF DIRECTOR DIRECTOR CHIEF �MANAGER� DIRECTOR ASSESSOR
Planning Finance Police of Parks and Volunteer Liquor Public Tax
and Department Department Environmental Recreation Fire Store Works Assessment
Inspection City Health Department Department �Department Department
Department Treasurer Department City
Government Engineer
Buildings
r
Engineering Street Public
Division Division Utilities
T1 i V i c i nr�
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C-
i
�a�:.��. CITY
OF
6301 SHINGLE CREEK PARKWAY
a B RQOIILYN SROOKLYN CENTER, MINNESOTA 55430
TELEPHONE (612) 561-5440
CENTER
1
September 30, 1975
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 submittal of the report for the year ended December 31, 1974 was delayed
because of the implementation of the automated Local Government Information
System (LOGIS) financial system during 1975. Upon the recommendation of the
Director of Finance, the preparation of the annual report and the independent
audit were deferred, and the Department's first priority was assigned to the
implementation of the new financial system so that the City would have current
financial reporting for 1975. The installation of the LOGIS financial system
has since been completed and the 1975 monthly financial reporting is on a
current basis.
The annual audited financial report of the Gity for the year ended December 31
1974, prepared by the Department of Finance under my general supervision, t
is submitted for your consideration. The summary of the report will be published
in the Brooklyn Center Post on October 23, 1975.
Respectfully submitted,
�v�
L.. y f'• �7 r_ i .�_y-
Dona ld G. Po s s
City Manager
DP:ck
��7� �a�e
r�
City of Brooklyn Center
GENERAL COMMENTS
Or�anization
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
t the adoption of the City Charter by a referendum'vote of the peo le.
P
The form of government established by the Charter is the "Council-
Manager Plan". The Council exercises the legislative power of the City and
determines all matters of olic The Council is com osed of a Ma or and
P Y P Y
four Councilmen who are el ected 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 City Manager is the chief accounting officer of the City and must
provide such information about the finances of the City as the Council may
require.
The offices of City Clerk and City Treasurer are subordinate to and
appointed by the City Manager. The City Clerk has duties in connection with
the keeping of the public records. The City Treasurer has duties in connection
with the receipt, disbursement and custody of public funds,
The City Attorney is appointed by the Gouncil. All other officers and
employees of the City are appointed by the City Manager. Appointment or
removal of department heads are made final upon a majority vote of the Council.
-8-
City of Brooklyn Center
GENERAL COMMENTS I
Financial Control and the Budget
The City Charter grants the City Council full authority over the
financial affairs of the City. The Charter requires that all funds of the
City except funds made up of proceeds of bond issues, public service 1
enterprise funds, and special assessment funds, be budgeted. The City
Manager is charged with the responsibility of preparing the estimates of
the annual budget and the enforcement of the provisions of the budget as
specified in the budget resolution. Upon adoption of the annual budget
resolution by the Council it becomes the formal }�udget for City operations.
After the budget resolution is adopted, the Council can increase the bud et
g
only if actual receipts exceed the estimates or from accurnulated surplus
in the amount of an unexpended appropriation from the previous fiscal year.
Financial reports, which compare actual performance with the budget
are prepared monthly and presented to the Council so the Council is able to
review the financial status and measure the effeetiveness of the budgetary
cpntrols.
Governmental budget procedures are not used in connection with the
liquar stores or public utilities operations,, because these operations are
primarily of commercial nature and employ concepts peculiar to revenue
producing entitites.
A suinmary of the budget document as originally adopted (prior to
subsequent amendments) for the calendar year 1974 follows:
_q_
Citv of Brooklvn Center
GENERAL COMMENTS
Financial Control. Cont'd
Pronosed Exnenditures (Public Service .Enternrises Excluded)
City operations (General Fund) $2, 404, 019
Library Bond Redemption Fund 14, 900
Park Bond Redemption Fund 27 100
1969 Building and Improvement Bond Redemption Fund 276, 300
Fireman's Relief Association 38, 815
Employees' Retirement Fund 103, 000
Policemen's Pension Fund 72.216
Total Pronosed Exnenditures $2, 936. 350
Pronosed Source of Financin�
Taxation (see summary of taxation presented below) $1, 518, 271
Shared taxes (State and Federal) 667 699
Tax penalties 25, 000
Local Revenue s:
General government services $258, 918
Permits and licenses 93, 000
Court fines 50, 000
Rent 13, 000
Refunds and reimbursements 24, 797
Interest 10, 000
T ransfe rs -in:
Liquor Fund $143, 000
Library Sale Fund 14, 900
Federal Revenue Sharing
Fund 116. 765 274, 665 724, 380
Other income 1.000
Total Pronosed Financin� $2. 936. 350
1
1
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t
�Citv of Brooklvn Center
GENERAL COMMENTS
Financial Control. Cont'd
Ac� valorem tax levies for the current year 1974 and for the two previous
years (1973 and 1972) are summarized and presented below:
1974 1973 1972
Mill Rate A�_ Mill Rate Amount Mill Rate Amount
Tax Levv
City operations 10, 35 $1, 000, 840 9. 54 877, 414 9. 31 775, 848
Debt RFdemption
Funds 3, 14 303, 400 3. 22 295, 900 2, 65 220, 400
Public Ernployees'
Retirement Fund 1. 07 103, 000 79 ?3, 000 84 70, 000
Policemen's Pen-
sion Fund 75 72, 216 67 61, 500 71 58, 923
Poor Relief Fund -0- -0- 22 20, 000 45 37, 000
Firemen's Relief
Association .40 38.815 .28 25.638 ..38 32.038
Total Levv 15. ?1 �1 518. 271 14. 72 �1 353. 452 ,�,4 34 �l, 194. 209
t
1974 1973 1972
Assessed Valuation
Real estate $94, 004, 953 $88, 678, 134 $79, 355, 000
Non-exempt personal
property 2. 657, 185 2.403. 743 1. 313.422
Total Assessed
Valuation $96. 66� 138 $91. 081. 877 $80. 668. 422
The financial condition of each fund as of December 31, 1974 and the results
of each Fund's operations for the year, together with a comparison of these results
-11-
Citv of Brooklvn 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, Assessor, Deputy Assessor, Liquor Store Manager, and
Assistant Manager. In addition, the City is covered by an Honesty Blanket
Position Bond on all other r:ity employees.
General Operations
The City, in addition to the usual activities such as: general
government, public safety and welfare, highways, recreation and parks;
operates three off-sale liquor stores and ublic sewer and water utilities
P
Net revenues produced in excess of working capital requirements by
municipal liquor store operations have been used towards financing current
expense and capital outla ro rams of the Cit G n
Y P g y e eral Fund.
The net revenues of the sewer and water utilities have been retained
withiz� the Public Utilities Fund and employed for sewer and water utility
pur oses.
P
Accounting 5ystem
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
Accountin�,
-12-
C ity of B rooklyn C ente r
GENERAL COMMENTS
Accountin� System, Cont'd
The accounts of the City are classified in conformance with classifi-
cations prescribed by the Public Examiner's office (Classification of Accounts
for Use by Fiscal Officers in Cities and Villages as issued pursuant to Minnesota
Statutes Section 215. 10). The accounting system used for the Public Utilities
Fund is adopted from a system specifically designed for municipally-owned
utilities by the American Water Works Association 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 �inancial recor�s, establishing and maintaining internal control,
and preparing financial and budgetary reports is delegated to this department.
-13-
1
�'INANCIA L
S T A T E M E N T S
S E C T I O N
1
MOEN AND PENTTILA
CERTIFIED PUBLIC ACCOUNTANTS
SUITE 203 VALLEY SOUTH BUILDING
MeMeeq OF 8950 WAYZATA BOULEVARD 612 546-3306
AMERICAN INSTITUTE OF ACCOUNTANTS MINNEAPOLIS, MINNESOTA 55426
Honorable Cit Council
Y
City of Brooklyn Center
We have examined the financial statements and supplementary
schedules of the various funds and account groups of the City of
Brooklyn Center for the year ended December 31, 1974. Our examination
was made in accord.ance with generally accepted auditing standards, and
accordingly, includecl such tests of �he accounting records and such other t
auditing procedures as we considered necessary in the circumstances,
In our opinion, such financial statements and related supplementary
schedules present fairly the financial position of the various funds and
account groups (Ex.hibits 1 through 34) of the City of Brooklyn Center at
December 31, 1974, and the results of operations of the various funds for the
year then ended, in conformity with generally accepted accounting principles
applied on a basis consistent with that of the previous year,
Respectfully submitted,
�.�Lz I
Oiva Penttila
Certified Public Accountant t
MOEN PENTTILA
Field work completed September 15, 1975.
Report signed Octol�er 13, 1975.
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C ombine d
Total
Note 21
Assets and Resources
Cash on hand and in depositories 110, 128
Temporary investments 7, 620, 922
Accounts receivable 112 869
Taxes receivable 133, 948
Due from other funds l, 298, 880
Due from other governmental units 87, 874
Inventories and supplies 202, 422
Work orders /construction in progress 1, 775
Accrued revenue 312, 997
Receivable appropriated funds 285, 892
Special assessment receivables 4, 231, 806
Securities held for investments 8, 127, 625
Prepaid expenses and deferred charges 79, 249
Fixed assets (net of depreciation where available) 25, 672,247
Unassessed construction 1, 118, 150
Amount available general debt and interest 167 946
Amount to be provided general debt and interest 4, 924 366
Uncollected dedicated funds 89.000
Totals $54, 578, 096
Liabilitie s
Vouchers and accounts payable 178, 934
Accrued sales tax 7, 558
Accrued expenses 131,054
Contracts payable 359, 546
Assessments payable 265, 150
Due to other funds 1, 298, 881
Temporary construction loans and advances 1, 477, 517
Bonds payable 8, 407, 000
Customer and contractor deposits 31, 168
Due funds participating in investment trust fund 7, 620, 921
Interest payable in future years (general debt) 1. 657. 162
Total Liabilitie s $21. 434. 891
Surnlus. Reserves and Fund Balances
Surplus and reserves set aside 4, 108, 572
Contributed surplus 9, 826, 475
Investment in general fixed assets 14 906 862
Unexpended appropriations, authorizations and balances 4, 301, 296
Total 5urnlus. Reserves and Fund Balances $33. 143, 205
Totals $54. 578, 096
(See notes to financial statements)
This statement is an integral part of report dated September 15, 1975
-15-
Citv of Brooklvn Center Exhibit 1
COMBINED BALANCE 5HEET ALL FUNDS AND ACCOUNT GROUPS (CONDENSED FORM1
December 31. 1974
Special Capital Debt Special Municipal Public Investment General General
General Revenue Projects Service Assessments Liquor Utilities Agency Trust Fixed Assets Debt
Fund Fund s Fund s F und s F und s Fund F und F und s F und G roup an�l I nte re st
(Exhibit 21 (Exhibit 51 (Exhibit 8) Exhibit 10) (Exhibit 12) (Exhibit I6) (Exhibit 20) (Exhibit 271 (Exhibit 291 f Exhibit 321 (Exhibit 331
40, 035 709 470 227 1, 771 64, 155 3, 508 85 832)
236, 031 531, 713 1, 702, 787 I10, 624 2, 372, 333 2, 575, 815 91, h19
7, 750 13, 322 790 91, 007
87�183 756 1,690 25,931 18,388
257, 151 195 3, 095 31, 164 780, 215 310 215, 086 11 664
7, 444 71, 017 4, 429 5, 384
1 22, 973 171, 205 8, 244
1, ?75
77, 925 12, 376 222, 696
285, 892 �i
4, 073, 512 I58, 294
85, �00 611, 586 7, 431, 039
33, 009 60 46, 180
66, O11 I0, �99, 374 $14, 9t16, 862
I, 118, 150
167, 946
4, 924, 366
89 000
868 167 46 8 3 6 30 3
$659. 942 $533, 373 $1. 059 9 9. 741 2, 5 1 $14, 251. 709 $745. 718 $7. 652. 903 $14. 906, 862 $5. 092. 312
78, 037 76, 706 9, 867 14, 324
558
23, 724 9g, 320 4, 948 4, 062
44, 823 260, 622 52, 662 I, 439
265, 15U
41,801 37,806 439,328 476,960 81,836 199,923 21,227
1, 477, 517
4, 512, 000 725, 000 3, 17Q� 000
625 30, 543
7, 620, 921
1�� 657.
$143. 562 37. SO6 484, 151 -0- $6. 825. 4I9 $1"1, 448 992. I34 35. 55I $7. 652. 403 $5. 09�. 312
42, 584 $102, 339 331 755 313, 420 3, 3I8, 484
9, 826, 475
$14, 906, g 62
1 473. ?96 393.228 1. 05z, 153 $167, 946 1, 257. 912 $131, 483 I14. 611 $710. 167
$516. 380 $495. 567 $1. 383. 908 $167, 946 $1, 571. 322 $131, 483 $13. 259, 570 $710. 167 -0- $I4. 906, 862 -0-
$659. 942 $533. 373 $1. 868. U59 $167. 946 $8, 396. 741 $302. 531 $14.251, 709 $745. 718 $7. 652. 903 $14. 906. 862 $5. 092. 312
-16-
Exhibit 2
Citv of Brooklvn Center
General Fund
BALANCE SHEET (COMPARATIVEI
December 31. 1974 and 1973
Current Prior
Year Year
A�SETS 1974 1973
Assets
Cash on hand. and in depositories 40, 035 30, 477
Temporary investments (Exhibit 31) 236, 031 153, 190
Accounts receivable 7, 750 5, 724
Taxes receivable 87, 1 83 59, 410
Due from other funds 257, 151 292, 753
Due from other governmental units 7, 044 12, 569
Inventory of supplies 22, 973 15, 547
Work orders in progress to be billed 1. 775 464
Total $659.942 $570.134
LIABILITIES. RESERVE5 AND FUND BALANCE
Liabilities
Vouchers payable 77, 785 84, 724
1 Payroll taxes and employee withholdings 23, 724 21, 784
Due to other funds 41 801 9, 022
1 Due to other governmental units 252 1. 309
Total Liabilities $143, 562 $11 6. 839
Reserves
Reserve for encumbrances 19, 082 4, 772
Reserve for inventories, petty cash and
change funds 23.502 16.079
Total Reserves 42.584 20.851
Fund Balance
Appropriated -0- -0-
Available for appropriation $473. 796 $432.444
Total Fund Balance (Exhibit 3) $473, 796 $432. 444
Total $659, 942 $570. 134
(Exhibit 1
(See notes to financial statements)
This statement is an integral part of report dated September 15, 1975.
-17-
Exhibit 3
C itv of rooklvn Cente r
GFneral Fund
5TATEMENT OF CHANGE5 IN FUND BALANCE (COMPARATIVEI
Years 1974 and 1973
Gurrent Year Prior Year
1974 1973
Fund L alance Januarv 1 432. 444 280. 421
Ac�d: Revenue (Exhibit 4) $2, 208, 06z $2, 010, 252
Transfers in (Exhibit 121 463 221 331
'I'otal Additions ,�2. 329. 525 $2. 231 58.3
]�educt: �xpenditures and encumbrances
(E'xhibit 4) $2, 280, 750 $2, 076, 805
Increase in reserve for inventory
an�l change funds '7, 423 2. 755
Total Deductions $2. 288. 1 73 $2. 079. 560
Fun�l E�alance Deceznber 31 (Exhibit 2) 473. 796 432, 444
(See notes to financial statements)
This statement i� an integral part of repart dated September 15, 1975,
-18-
Exhibit 4
Citv of Brooklvn Center
General Fund
STATEMENT OF REVENUES, APPROPRIATIONS FROM FUND BALANCE.
EXPENDITURES, ENCUMBRANCES AND TRANSFERS
Years 1974 and 1973
Actual
1974 1974 Over(Under) Actual Prior
Bud�et Actual Bud�et Year
Revenues (Schedule 4-A)
Ad Valorem taxes $1 025, 840 $1 046, 1 63 20, 323 895, 402
Shared taxes 646, 715 652, 343 5, 628 669, 556
Charges for services 218, 618 217, 511 1, 107) 203, 519
Inter-fund charges 62, 600 135, 208 72, 608 51 778
Licenses and permits 100, 000 88, 922 11, 078) 96, 006
Court fines 50, 000 38, 644 11, 356) 53, 862
Other income 38, 641 29. 271 9. 370) 40. 129
Total Revenues $2, 142, 414 $2, 208, 062 65, 648 $2, Ol 0, 252
Transfers from other funds 141 654 121 463 20, 191) 221 331
Appropriations from fund
balance 155, 415 155. 415 33. 497
Total $2.439.483 $2.484.940 45.457 $2.265.080
Exnenditures and Encumbrances
(See Schedule 4-B)
General government 572, 733 546, 649 26, 084) 494, 968
Public safety and welfare 720, 241 700, 438 19, 803) 587, 443
Highways, streets and walks 588, 708 522, 297 66, 411) 500, 840
Health 29, 959 26, 555 3, 404) 26, 912
Parks and recreation 527. 842 484. 811 43. 0311 466. 642
Total Exnenditures and
Encumbrances $2. 439, 483 $2. 280. 750 1 58. 7331 $2. 076. 805
Excess (Deficiencvl of revenues.
transfers in and aDnronriations
from fund balance over expendi-
tures. encumbrances and
transfers out -0- 204.190 204.190 188.275
(5ee notes to financial statements)
This statement is an integral part of report dated5eptem?�er 15, 1975.
-19-
Citv of Brooklvn Center 5chedule 4-A
General Fund
STATEMENT �F REVENUE BUDGET AND ACTUAL
OBTECTIVE CLASSTFICATION
Year 1974
Actual
Final Ove r( Unde r)
Bud�e� Ac�ual Bud�et
Ad Valorem Taxes
Real estate taxes $1 000, $40 $1 000, 937 97
Penalties and i�terest on tax bills 25. 000 45. 226 20. 226
Total Ad Valorem Taxes $1 025. 840 $1 046. 163 $20. 323
Shared Taxes
Governmental aids per 1973
Minnesota legislature 646, 715 646 715
MQrtgage registry 5.628 5.628
Total Shared Taxes 646. ?15 652, 343 5. 628
�harges for 5ervices
Recreation 210, 550 209, 487 1, 063)
Sale of maps 2, 000 1, 941 59)
Zaning and platting fee s 1, 30Q 1, 589 289
Burglar alarm service 1, 260 1, 380 120
F ire alarm service 1, 008 1, 212 204
Weed cutting 2, 50Q 1, 887 613)
�iling fees 15 15
Total Ghar es for Services 218. 618 217. 511 1.1071
Inter Fund Char�es
Engineering, clerical and labor 50, 000 115, 464 $65, 464
�ublic u�ilities (rent and administxationl 12. 600 19, 744 7. 144
To�al Inter F d C a
un h r�es 62.600 135.208 $72.608
Licenses and Perrnits r
Building permits 19, 220
Malt li�enre 33, 947
Electrical perrraits 6, 669
Plumbing permits 4, 726
Heating permits 5, 276
Se we r and wate r pe rmit s 2, 710
Food li,cense 2, 797
Dog permits 2, 864
Bicycle li�ense 3, 463
Miscelianeaus business licen,ses 1, 472
Vehicle license 1 050
Heating license 1 065
Gig�.rette license 1 013
-20-
5chedule 4-A
Citv of Brooklvn Center Cont'd
General Fund
STATEMENT OF REVENUE BUDGET AND ACTUAL
OBJECTIVE CLASSIFICATION
Yearl974
Actual
Final Over (Under)
Bud �et Actua l Bud �et
Licenses and Permits, Cont'd
Swimming pool license 1, 19g
Garbage license 663
Se rvice station 475
Bowling alley 50
Taxicab license 200
All other licenses and permits 64
Total Licenses and Perrnits 100. 000 88. 922 11 078)
Court Fines
Costs and fees 50. 000 38, 644 11 3561
Othe r Income
Rental of property 1 3, 000 3, 969 9, 031)
Grants 10, 326 10, 326
Civil defense reimbursements 10, 197 6, 658 3, 539)
Interest on temporary investments 10, 000 1, 174 8, 826)
Miscellaneous 4, 9g4 6, 445 1, 461
Gifts private sources 160 176 16
Police towing charges 300 523 223
Total Other Income 38. 641 29.271 9. 3701
Transfers from Other Funds
Police Pension Fund 20, 000 21 227 1, 227
Fede ral Revenue Sharing Fund 121 654 100. 236 21 418)
Total Transfers from Other Funds 141 654 121 .463 20. 191)
Abnror�riations
Appropriations from Fund Balance 155.415 155.415
Total Revenues. Transfers and
Annrooriations $2.439.483 $2.484.940 45.457
(See notes to financial statements)
This statement is an integral part of report dated September 15, 1975.
-21-
Actual
1974 Over Actual
Final 1974 Unde r) Prior
Bud�et Actual BudQet Year
General Government
Mayor and council 47, 646 38, 251 9, 395) 27, 764
Elections and vater registration 6, 242 6, 856 614 4, 163
Finance administrative office 184, 459 178, 260 6, 199) 164, 498
assessor's office 55, Q98 54, 116 982) 48, 085
accounting and internal
audit 67, 682 57, 502 10, 180) 59, 319
independent audit 11, 100 11, 031 69) 8, 578
Legal 36,850 33,617 3,233) 24,346
Charter commissi.on 1, 500 Z3 1, 477) 262
Gene ral government buildin� 162, 156 157, 527 4, 629) 143 999
Tax xevenue lost by court order -0- -0- -0- 13, 954
Interest expense -0- 9. 466 9, 466 -0-
Total General Gover�rrient $572, 733 $546, 649 26, 084) $494, 968
Public 5afetv and. Welfare
Folice protection $564, 674 $558, 052 6, 622) $480, 356
FirE protection 52, 050 49, 852 2, 198) 39, 614
Protec�ive inspection 67, 700 66, 483 1, 217) 52, 755
Civil d�Fense 25, 567 16, 006 9, 561) 5, 884
A�imal control 8, 500 8, 473 27) 7, ?96
V�e�d eradication 1.750 1.572 178) 1.038
Total Public Safetv and
Welfare $720. 241 $700. 438 19, 8031 $5$7. 443
Hi�hwavs, Streets and Wa1ks t
Engineering c3epartment $139, 495 $129, 323 10, 172) $122, 631
Street de�artment 326, 331 274, 304 52, 031) 271, 431
�vIaintenance shop 64� 132 62, 625 1, 507) 57, 846
Street lighting 58. 750 56, 049 2. 701) 48. 932
Total IIi�hwavs. Streets
and Walks $588. 708 $522.297 66.411) $500.840
Health
Health regulation and inspec-
tiori 18, 000 14, 596 3, 404) 14, 953
Nursing service 11. 954 11. 959 11, 959
Total Health 29. 959 26. 555 3. 404) 26, 912
(5ee notes to financial statements)
Thig statement is an integral part of report dated September 15, 1975.
-22-
Schedule 4�B
Citv of Brooklvn Center
General Fund
5TATEMENT OF EXPENDITURES AND ENCUMBRANCES BUDGET AND ACTUAL
CLASSIFIED AS TO ACTIVITY. CHARACTER AND OBJECT
Year 1974
1974 Actual Classified by Character and
Obiect
Personal Contracted Capital
Se rvice 5e rvice Commoditie s Othe r Out1_avs
27, 566 10, 685
4,964 534 325 1,033
9b, 920 31 501 49, 119 720
49,408 1,573 277 2,858
46, 858 9, 460 1, 184
11�031
33,090 527
23
73, 476 64, 446 9, 243 1, 782 8, 580
9. 466
$343. 336 98. 581 9, 520 83. 695 11, 517
$498 9,571 10,176 18,525 21,503
30,103 2,620 2,040 1,137 13,952
63,492 2,516 475
12,667 1,301 686 897 455
8,473
1 572
$614.584 13,492 12.902 23,075 36,385
$123,774 103 1,400 1,729 2,317
191,351 25,379 4,618 52,952
2,098 53,994 5,950 583
56, 049
$315,125 58,250 80,773 12.297 55.852
i4 596
11.959
26. 555
-23-
Actual
1974 Over Actual
Final 1974 (Under) Prior
�ud�et Actual Bud�et Year
Parks and Recreation
Supervi�ion and recreation $21�k, �0*� $196 061 18, 143) $186, 464
Adult prograrr,►s 23, 475 32, 779 9, 304 28, 875
Teen programs 15, 600 9, 873 5, 727) 14, 746
Children's programs 36, 425 34, 499 1, 926) 37, 366
General programs 42, 650 34, 521 8, 129) 32, 901
Community center l I9, 868 108, O60 11, 808) 110, 928
Park maintenance and improve-
ment program 75. 620 69� 018 6, 6021 55, 362
Total Parks and Recrea-
ti�n $527. 842 $48�4. 811 43. 0311 $466 642
Transfers to Other Funds
Total Exnendztureg, Encumbrances
�and Transf.�rs Out 439. 483 280. 750 $(158, 733) $2. 076. 805
(See notes to financial statements)
This statement is an integral part of report dated September 15, 1975.
-24-
t Citv of Brooklvn Center Schedule 4-B
General Fund Cont'd
5TATEMENT OF EXPENDITURES AND ENCUMBRANCES BUDGET AND ACTUAL
CLASSIFIED A5 TO ACTIVITY. CHARACTER AND OBJECT
Year 1974
1974 Actual Classified by Character and
Obiect
Pe rsonal Contracted Capital
Service Service Commodities Other Outlavs
$167,086 6 ,324 1,987 3,768 16,896
23, 522 9, 257
9,804 69
26,297 8,202
30, 467 4, 054
81, 132 16, 192 4, 995 5, 741
13,200 20.294 1.276 34,248
$338,308 35,716 48,858 10,785 51.144
$1.637,908 $206.039 $152.053 $129.852 $154,89g
t
-25-
Park
Poor Conce s sions
Fund Fund
AS5ETS
Cash on hand and in depositories 146 53
Temporary inveatments (Exhibit 31) 15, 524 3, 97$
Due f rom othe r fund s 19 5
Taxes receivable 756
Totals 16. 621 4, 031
LIABILITIES AND FUND BALANCE
Vouchers payable
Due to other funds (Nate 9) 39 3, 017
Reserve for encumbrances
Fund balance (Exhibit 6) 16. 582 1, 014
Totals 16.621 4.031
(See notes to financial statements)
This statement is an integral part of report dated September 15, 1975.
-26-
Exhibit 5
_�v of Brooklvn Cet�ter
Snecial Revenue Funds
COMBINED BALANCE SHEET (COMPARATIVEI
Decembe r 3]. 1974 and 1973
Group Library Federal Combined T�tal
Training Sales Revenue 5haring Current Year Previous Year
Fund Fund Fund 1974 1973
63 31 416 709 665
188,421 323,7q0 531,713 443,809
195 195
756 1. 494
63 $188.452 $324.206 $533.373 $446,163
1, 356
34,750 37,806 34,750
$102, 339 102, 339
63 153.702 221.867 393.2�8 410.057
63 $188.452 $324.206 $533.373 $446.163
(Exhibit 1)
1
1
t
1
1
-27-
Pa rk
Poor Concessions
Fund Fund
t und Balance Januarv 1 14, 312 1, 310
Add: Revenue (Exhibit 7) 2, 475 2� 5g2
Deduct: Expenditures and
encumbrances (Exhibit 7) 205) 2, g78)
Fund Balance December 31 (Exhibit 5) 16. 582 1, 014
(5ee notes to financial statements)
This statement is an integral part of report dated September 15, 1975,
-28-
Exhibit 6
Citv of B rooklvn Ce nte r
Snecial Revenue Funds
COMBINED ANALYSI5 OF CHANGES IN FUND BALANCE (COMPARATIVEI
Years 1974 and 1973
Group Library Federal Combined Total
Training Sales Revenue Sharing Current Year Previous Year
Fund Fund Fund 1974 1973
(�3 �154�140 �240 $410�057 �240,339
14, 462 184, 209 203, 728 231, 584
14. 9001 (202. 5741 (220, 557) 61, 866)
63 $153.702 $221.867 $393.228 $410.057
1
-29-
Park
Poor Concession
Fund Fund
Revenue
General property tax ad valorem
le vy
Interest on temporary investments 1, 024 267
Interest on contract receivable
Concession receipts 2, 315
Federal revenue sharing grants
Distribution of suburban board assets 1, 407
Othe r income 44
Total Revenue (Exhibit 6) 2.475 2. 582
Exnenditures
Subsistence care and support
payments 205
A�ministrative charges
Purchases for resale 2, 636
Purchases of equipment 242
Taxes written off
Transfers to other funds
Total Exnenditures (Exhibit 6) 205 2.878
Excess (Deficiencv) of Revenue Over
Exnenditures 2, 270 2961
r
(See notes to financial statements)
This statement is an integral part of report dated Se tember 15, 1975.
P
-30-
Exhibit 7
Citv of Brooklvn Center
Special Revenue Funds
COMBINED STATEMENT OF REVENUE5 AND EXPENDITURE5 (COMPARATIVEI
Years 1974 and 1973
Library Federal Combined Total
Sales Revenue 5haring Current Year Previous Year
Fund Fund 1974 1973
20, 051
14, 462 24, 639 40, 392 20, 612
2,480
2, 315 2, 183
159, 570 159, 570 186, 258
1, 407
44
14.462 $184.209 $203.728 $231.584
205 7,129
8,517
2,636 605
242 248
32
14.900 �202.574 217.474 45.335
14.900 $202,574 $220.557 61.866
438) 18, 365) 16, 829) $169. 718
t -31-
Certificates
Library of Indebtedness
Bonds #10
ASSE TS
Cash in bank 46
Taxes receivable
Due from othe r fund s
Temporary investments 2, 572 9gg
Due from other governmental agencies
Uncollected dedicated funds:
5pecial assessment surpluses to be
transferred (Exhibit 12)
Totals 2, 618 988
LIABILITIES AND FUND BALANCE
Vouchers payable
Due to othe r fund s
Contracts payable
Unexpended appropriations (Ex.hibit 9)
Fund balance restricted to State approved
projects (Exhibit 9)
Unappropriated fund balance (Exhibit 9) 2. 618 988
Totals 2.618 988
(See notes to financial statements)
T�is statement is an integral part of report dated September 15, 1975.
-32-
1
Exhibit 8
Citv of Brooklvn Center
Capital Proiects Funds
COMBINED BALANCE SHEET ICOMPARATIVE�
December 31. 1974 and 1973
Certificates Open-Space Capital Municipal Combined Total
of Indebtedness Acquisition Projects State Aid for Current Year Previous Year
#11 Fund Fund Construction 1974 1973
54 345 25 470 3, 334)
1, 690 1, 690 1, 793
3, 095 3, 095 210
523 48, 798 109, 588 1, 540, 318 1, 702, 787 l, 368, 562
38,059 32,958 71,017 189,933
89,000 89,000 89.000
523 86. 911 $203. 718 $1, 573. 301 $1. 868. 059 $1. 646. 164
52
50,977 1,197 387,154 439,328 305,296
44, 823 44, 823 77 919
30, 642 92, 802 26, 161 149, 605 125, 281
902,548 902,548 875,796
523 5,292 109.719 212.615 331.755 261.820
523 86, 911 $203. 718 $1. 573. 301 $1, 868. 059 $1. 646, 164
(Exhibit 1)
-33-
Certificates of
Library Indebtedness
Bonds #�,�0
Reserve for Authorized Ext�enditures
General debt:
General obligation bonds $250 000
Certificates of indebtedness 44, 000
Acl valorem taxes
Sale of prope rty
Grants from other governmental units:
He nnepin C ounty
U. S. Government
State of Minnesota for parks
State of Minne sota for highways
Transfers-In from other funds:
General Fund
Special Assessment Funds
Federal Revenue 5haring Fund
Dedicated funds appropriated
Interest earned on investments 1. 858 414
Total Amount Annronriated $251. 858 44.414
Less: Expenditures for authorized purposes:
Total expenditures through December 31 prior year $249, 240 43, 426
Current year expenditures:
Open space land acquisition
Debt se rvice
Street construction
Civic Center
Municipal service garage and fire station (East)
Parks and playgrounds
Total Authorized Exnenditures throu�h December 31 $249.240 43.426
Reserve for Authorized Exnenditures December 31:
Unexpended appropriations (Exhibit 8)
Fund balance restricted to S�ate-approved projects
(Exhibit 8)
Una �nronriated Fund Balance. December 31 2. 618 988
(See notes to financial statements)
This statement is an integral part of report dated September 15, 1975.
-34-
C itv of B rooklvn Cente r Exhibit 9
Canital Proiects Funds
COMBINED STATEMENT OF APPROPRIATION5 EXPENDITURES
AND FUND BALANCES (COMPARATIVE)
Years 1974 and 1973
Municipal
Certificates 5tate Aid
of Open S�+ace Capital for Combined Totals
Indebtedness Acquisition Projects Highway Current Year Previous Year
#11 Fund Fund Construction 1974 1973
$2, 250, 000 $1, 030, 000 $3, 530, 000 $3, 530, 000
9, 500 53, 500 53, 500
265, 243 265, 243 265, 243
37, 543 37, 543 37, 543
22, 850
22,850 22,850
151, 575 151, 575 151, 575
74, 643 74, 643 74, 643
1, 667, 017 1, 667, 017 1, 396, 340
92, 997 3, 000 95, 997 95, 997
87, 000 87, 000 87, 000
12 747 12, 747 12 747
279, 000 279, 000 279, 000
161 5.292 243,798 454,427 705.950 587.042
9. 661 $347. 357 $3, 178. 331 $3. 151. 444 $6. 983. 065 $6. 593, 480
9, 138 $311, 423 $2, 973, 730 $1, 743, 626 $5, 330, 583 $4, 719, 828
-0- 1,916
80,846 80,846 38,404
185, 648 185, 648 542, 563
10,955
5,007
2.080 2.080 11.910
9. 138 $311. 423 $2. 975. 810 $2, 010. 120 $5. 599. 157 $5, 330. 583
30, 642 92. 802 26, 161 149. 605 125. 281
902,548 902,548 875,796
1
523 5.292 109.719 212.615 331.755 261.820
-35-
Park Library
ASSETS Rnnr1 G Rnnt� G
Cash on hand and in depositories 49 91
Temporary investments (Exhibit 31) 38 269 11, 026
Due from other funds 29, 983 307
Taxes receivable 2.770 -0-
Totals 1. 071 11, 424
LIABILITIES AND SURPLU5
Fund balance (Exhibit 11) 71 071 11, 424
Unappropriated surplus (Exhibit 11)
Totals 71.071 11.424
(See notes to the financial statements)
This statement is an integral part of report dated 5eptember 15, 1975,
-36-
Exhibit 10
Citv of Brooklvn Center
Debt Service Funda
COMBINED BALANCE 5HEET (COMPARATIVE�
December 31. 1974 and 1973
Certificate State Aid Improvement Combined Total
of Street Building Current Year Previous Year
Indebtedness Bonds Bonds 1974 1973
83 -0- 4 227 274
10,733 8Z0 49,776 110,624 100,579
612 -0- 262 31,164 31,164
411 -0- 22.750 25.931 18„180
11.839 820 72.792 $167.946 $150.197
820 72,792 $156,107 $139,119
11.839 11,839 11,078
11.839 820 72.792 $167.946 $150.197
1
1
-37'
1
Park Library
Bond s Bond s
Fund Balances Januarv 1 66, 767 10, 022
Add: Revenue and transfers:
General property tax levies 27, 1p2 _p_
State aid -0- -0-
Sale of properties -0- -0-
Interest on temporary investments 2, 882 66Q
Transfer from other funds -0- 14, 900
Other income -0- 25
Total Balance and A�lditions 96. 751 25, 607
Deduct: Expenditure s:
t
Principal paid on bonds 20, 000 10, 000
Interest on bonds 4, 485 4, 160
Fiscal agent fees q5 23
Write off tax levy balances -0- -0-
Total ExDenditures 25. 680 14. 183
Fund Balance December 31. (Exhibit 10) 71.071 11.424
Unappropriated Surplus December 31 t
(Exhibit 101
(See notes to financial statements)
This statement is an integral part of report dated September 15, 1975.
-38-
Exhibit 11
Citv of Brooklvn Center
Debt Se rvice Fund
COMBINED STATEMENT OF REVENUE. EXPENDITURE5
AND FUND BALANCE5 (COMPARATIVE)
Years 1974 and 1973
1
Certificates 1 State Aid Improvement Combined Total
of 5treet Building Current Year Previous Year
Indebtedness Bonds Bonds 1974 1973
11, Q78 6, 393 55, 937 $150, 197 99 626
276, 320 303, 422 295, 990
49, 540
29, 362
761 277 4, 162 8, 742 7, 253
80, 846 95, 746 53, 704
25
11.839 87.516 $336.419 $558.132 $535.475
25,000 $�25,000 $180,000 $165,000
61,527 138,125 209,397 219,101
169 502 789 794
383
-0- 86.696 $263.627 $390.186 $385.278
820 72.792 $156,107 $139.119
11,839 11,839 11.078
1. Fund balance available for council appropriation for city use
because debt service activity is complete.
-39-
t
Bond Fund 1955 A 1956 AC
ASSETS No. 1 Fund Fund
Cash on hand and in depositories 56 113 4)
Temporary investments 13, 625 90, 933 138, 534
Accounts receivable and accrued interest
Due from other funds 64 72 523
Assessments receivable:
Future installments (principal) 8, 474 27, 820
Delinquent assessments (principal and
interest) 97 3, 362 2, 390
City General Fund (Note 8) 997 2, 816
Installments applicable to tax forfeit property 91 73 556
Authorization to assess for construction in
progress
Deferred interest charges
Due from other governmental units
Totals 13.933 $104.02� $172.635
LIABILITIES
Due to other governmental units
Accounts payable
Contracts payable
Accrued expenses and costs
Due to other funds 414 240
Construction loans payable
MSA advances for construction
Bonds payable future years (Exhibit 15) 17, 000 40. 000
Total Liabilities 17, 414 40, 240
Appropriated for transfer to Capital Pro-
jects Fund (Exhibit 8) 13, 000 31, 000 22, 000
Unappropriated surplus (deficit) for debt
retirement (Exhibit 13) 933 55, 610 110, 395
Unexpended appropriations for construction
Exhibit 14)
Totals 13. 933 $104, 024 $172. 635
(5ee notes to financial statements)
This statement is an integral part of report dated 5eptember 15, 1975.
-40-
Exhibit 12
Citv of Brooklvn Ceriter
Snecial Assessment Funds
COMBINED BALANCE 5HEET (COMPARATIVEI,
December 31. 1974 and 1973
1956 B Combined Total
1957 AB 1958 A 1958 B 1959 AB 1960 AB 1961 AB 1963 1965 1966 1968 1970 1973 1974 Current Year Previous Year
Fund Fund Fund Fund F und Fund F und Fund Fund Fund Fund Fund Fund 1974 1973
76 114 100 53 95 185 1 30 233 206 802 375) 86 1,771 2,193
33 996 124 699 124, 105 106, 025 346, 184 404, 465 240, 409 61, 638 �4, 204 69, 750 270, 485 237, 568 15, 713 2, 372, 333 2, 115, 855
2,313 2,313 32,614
249 398 13, 840 3, 487 4, 494 22, 882 3, 968 3, 233 35, 057 691, 948 780, 215 592, 674
18, 401 50, 912 19, 209 b9 217 239, 366 142, 704 146, 605 88, 324 211, 370 317 499 1, 404, 552 572, 390 288, 548 3, 605, 391 4, 048, 289
849 4, 878 500 1, 495 17, 195 6, 276 2, 746 1, 014 8, 366 19, 810 85, 649 35, 706 12, 637 202, 970 312, 177
124 21 469 2, 433 2, 550 7, 754 9, 829 8, 370 167, 412 47, 493 14, 883 265, 151 280, 183 i
126 765 1,731 674 218 3,226 2,467 1,082 11,009 11,090 I
1, 118, 150 1, 118, 150 528, 192
27, 511 5, 498 33, 009 36, 362
497 978 2.582 99 273 4.429 6,997
53.572 $181.638 $145.645 $177.961 $604,903 $575.711 $395.897 $163,527 $349,351 $419,603 $1.959.644 $934.419 $2.144.278 $8.396.741 $7
1
470
-0- -0-
260, 622 260, 622 70, 575
98, 320 98, 320 52, 030
197 154 1,406 60 295 380 1,408 181,008 $216,611 74,787 476,960 473,717
1, 299, 800 1, 299, 800 731, 700
177, 717 177, 717 247, 397
100.000 70.000 $155,000 450.000 390.000 245.000 $125,000 315.000 390.000 1,575,000 640.000 4.512.000 5.119.000
I, 197 $100, 154 70, 000 $155, 000 $451, 406 $390, 060 $245, 295 $125, 000 $315, 380 $391, 408 $1, 756, 008 $856, 611 $l, 911, 246 $6, 825, 419 $6, 694, 889
t 14, 000 9, 000 89, 000
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
224,410 224,410 94.278
53.572 $181.638 $145.645 $177,961 $604,903 $575.711 $395,897 $163,527 $349,351 $419.603 $1.959.644 $934.419 $2.144.278 $8.396.741 �7.966.626
(Exhibit 1)
1
-41-
1
Bond Fund 1956 A 1956 AC
No. 1 Fund Fund
Unabnronriated Surnlus, Januarv 1 ��.8�8 82.690 $122.521
A�d: Revenue:
Interest assessments 165 874 2, 182
Interest investments 940 4, 194
Revenue 1.105 5.068 12.386
Less; Expenditure:
Interest 1, 105 2, 460
Agent charges 43 52
Othe r expe nditure s
Appropriation for transfer to
Capital Projects Funds 13.000 31.000 22.000
Ex�enditures and Avnro�riattons 13.000 32. 14$ 24. 512
Unatinronriated Surplus. December 31 933 55, 610 $110. 395
To Exhibit 12
(5ee notes to financial statements)
This statement is an integral part of report dated September 15, 1975.
-42-
Exhibit 13
Citv of Brooklvn Center
Snecial Assessments Funds
COMBINED STATEMENT OF REVENUE. EXPENDITURES AND
UNAPPROPRIATED 5URPLU5 FOR DEBT RETIREMENI (COMPARATIVE)
Years 1974 and 1973
i
1956 B Combined Total
1957 AB 1958 A 1958 B 1959 AB 1960 AB 1961 AB 1963 1965 1966 1969 1970 1973 1974 Current Year Previous Year
Fund Fund Fund Fund Fund Fund Fund Fund Fund Fund Fund Fund F.und 1974 1973
49,. 910 72. 779 67. 365 17. 378 $130. 544 $160, 862 $132, 259 34, 163 29. 812 26, 796 $174. 378 48. 110 15, 064 $1, 177. 459 $1. 049. 342
I
1, 545 4, 029 1, 486 5, 001 17, 403 10, 618 10, 310 5, 074 13, 062 24, 466 $127, 926 47, 397 3, 039 274, 577 329, 613
1. 920 9. 751 10. 067 8, 966 26. 826 30, 797 17, 646 4, 692 7, 580 6. 332 11. 912 14, 973 166. 800 131. 647
3. 465 13. 780 11. 553 13, 967 44, 229 41, 415 27. 956 9, 766 20, 642 30, 798 $139, 838 62, 370 3. 039 441. 377 461. 260
5, 000 3, 240 8, 325 20, 970 16, 255 9, 520 5, 290 16, 415 29, 250 $110, 214 32, 614 9, 481 270, 139 331, 796
75 33 59 198 103 42 32 68 149 366 58. 1,278 1,347
108 268 51 80 507
14. 000 9, 000 89. 000
14,000 5,075 12,273 8.384 21,276 16,626 9.613 5.402 16,483 29,399 $110,580 32,672 9.481 360,924 333.143
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. 579. 912 $1. 177. 459
I
I
-43-
THO5E PROJECTS CLOSED DURING 1974_
Apnronriations
Project Original (Added) Final
Number Descrix�tion A,�ronriations Cancelled A�yronriation
71-3 Curb and gutter 6, 3Q0 6, 300
71-24 Curb and gutter 9, 300 9, 300
72-19 Water main 88, 000 88, 000
72-25 Sanitary sewer 2, 350 2, 350
72-26 Street 15, 942 15, 942
72-34 Street 32,000 32,000
73-8 Street 12, OOp 12, 000
73-9 Water main 25, 000 25, 000
73-10 Street 12,400 12,400
73-11 Grading and base 52, 000 52, 000
73-12 Curb, gutter and
sidewalk 23, 000 23, 000
73-13 Grading and base 125, 000 125, 000
23-14 Curb and gutter 45, 000 45, 000
73-16 Service extension
public utility 4, 000 4, 000
73-31 Water main 21, 500 21, 500
73-33 Sanitary sewer 11, 000 11, 000
73-36 Water main 15, 800 15, 800
Total Proiects Clased in 1974 $500. 592 9.300 $491.292
(See notes to financial statements)
This statement is an integral part of report dated September 15, 1975.
-44-
I Citv of Brooklvn Center Exhibit 14
Snecial Assessment Funds
CONSTRUCTION EXPENDITURE5 COMPARED TO APPROPRIA'FIONS AND A55ESSMENT OF COSTS
Year 1974
As se s sed
Exnenc�itures Costs Assessed Comnared to Cast
11 /1 /74 During Total State Aid Municipal Property Applied to
Balance 1974 Exnenditure Share Properties Share Total Other Funda
6, 300 56 6 6, 356 6, 356
41, 933 4, 653 46, 586 13, 976 865 31, 745 46, 586
1,863 139 2,002 2,002
15, 942 ?97 16, 739 16, 739 16, 739
32,364 3,416) 28,948 10,352 17 ,969 28,321 627
10, 680 1, 301) 9, 379 4, 250 4, 250 5, 129
20,134 1,371 21,505 18,041 18,041 3,464
11,025 1,181 12,206 169 12,037 12,206
40,849 1,352 42,201 40,367 1,834 42,201
18,919 998 19,917 12 ,973 6,944 19,917
1 128, 8,798) 119,986 96,678 23,308 119,986
38 ,959 463 39,422 21,900 17,522 39,422
4, 678 546) 4, 132 4, 132 4, 132
1,684 17,243 18,927 10,208 10,208 8,719
6,249 904 7,153 7,153 7,153
14 669 14, 669 8, 850 8, 850 5, 819
1 $380.363 29,765 $410.128 $202.633 11.386 $170.349 $384,368 25.760
1
1
1
1
1
1
-45-
t Exhibit 14
Citv of Brooklvn Center Cont'd
,�,pecial Assessment Funds
CONSTRUCTION EXPENDITURES COMFARED TO APPROPRIATIONS AND
ASSESSMENT OF COST5
Year 1974
PROJECTS IN PROCESS AT DECEMBER 31. 1974
Appropriated Expenditures Unexpended
Project Through Through (Overexpended)
Number Descrintion 12-31-74 12-31-74 A,�t�ronriations
72-20 Bridge 263, 000 $239, 268 23, 732
73-32 Street 6, 100 5, 605 495
73-37 Street 8, 500 7, 476 1, 024
74-1 Water main 95, 000 72, 894 22, 106
74-2 Sanitary sewer 32, 000 28, 590 3, 410
74-3 Storm sewer 49, 000 42, 105 6, 895
74-4 Street 155, 000 129, 362 25, 638
74-5 Street 45, 000 21, 712 23, 288
74-6 Curb, gutter and sidewalk 39, 000 27, 277 11, 723
74-7 Water 60, 000 50, 925 9, 075
74-8 Sanitary sewer 15, 000 11, 359 3, 641
74 9 5torm sewer 8, 000 5, 572 2, 428
74-10 Street 39, 000 20, 528 18, 472
74-11 Wate r 19, 900 21, 054 1, 154)
74-12 Street 12, 500 9, 767 2, 733
74-14 Curb and gutter 33, 000 24, 190 8, 810
74-16 Street 25, 000 4, 695 20, 305
74-17 Water 26, 000 14, 033 11, 967
74-1$ Sanitary sewer 2I, 050 9, 692 11, 358
74-19 Storm sewer 26, 500 20, 480 6, 020
1 74-20 Street 12,600 -0- 12,600
74-21 Water 15, 200 13, 842 1, 358
74-22 5treet 10,500 7,278 3,222
74-23 5torm sewer 8, 000 5, 269 2, 731
74-32 Street 13, 500 5, 105 8, 395
74-33 Curb and gutter 3, 500 -0- 3, 500
74-34 Water main 53, 900 42, 650 11, 250
74-35 Street 22, 400 -0- 22, 400
Unallocated 53, 012 53, 012)
Total Annronriations $1. 118. 150
Total Exnenditures $893. 740
Annropriations in Excess of Expenditures (Exhibit 12) $224.410
(See notes to financial statements)
Tl:is statement is an integral part of report dated September 15, 1975.
-46-
r
Bond
Redemption
Year of Total Monies to
Fund Descrintion of Issue Issue Issue Pavin� A�ent
1955 A 1955 A serial issue 1955 497, 000 480, 000
1956 AC 1956 C serial issue 1956 550, 000 510, 000
1958 A 1958 A serial issue 1958 530, 000 430, 000
1958 B 1958 B serialissue 1958 390,000 320,000
1959 AB 1959 AB serial issue 1960 630, 000 475, 000
1960 AB 1960 A serial issue 1960 768, 000 588, 000
1960 B serial issue 1961 885, 000 615, 000
1961 AB 1961 A serial issue 1962 595, 000 385, 000
1961 B serial issue 1963 430, 000 250, 000
1963 1963 A serialissue 1964 636,000 391,000
1965 1965 A improvement bonds 1966 345, 000 220, 000
1966 1966 improvement bonds 1968 750, 000 435, 000
1969 1969 improvement bonds 1969 755, 000 365, 000
1970 1970 improvement bonds 1970 2, 290, 000 715, 000
1971 1973 improvement bonds 1973 745, 000 105, 000
Total $10. 796, 000 $6. 284. 000
(See notes to financial statements)
This statement is an integral part of report dated 5eptember 15, 1975.
-47-
Exhibit 15
Citv of Brooklvn Center
Snecial Assessmerit Funds
STATEMENT OF LONG-TERM DEBT (PRINCIPAL AMOUNT OUTSTANDINGI
December 31. 1974
Balance Last
Unpaid Installment
�„�-31-74 Due on Coupon Rates on Outstandin� Bonds
17, 000 1-1-76 3. 25%
40, 000 1-1-77 4a 10
100, 000 1-1-79 4 00
70,000 1-1-79 3,60
155, 000 1-1-81 4. 50
180, 000 1-1-81 90M 4, 20%; 90M 3, 00°jo
270, 000 1-1^81 270M 4, 20%
210, 000 1-1-82 150M 3. 75%; 60M 3. 70°�0
180, 000 1-1-84 100N1 3, 70°�0; 80M 3. 60%
245, 000 1-1-85 45M 3, 60%; 80M 3, 50%; 90M 3, 40%; 30M 3. 20%
125, 000 1-1-86 95M 3, 80%; 30M 3, 70%
315, 000 1-1-88 50M 4, 80�/0; 45M 4. 70°/0; 165M 4. 50%; 55M 4. 20%
390, 000 1-1-89 6. 50°fn
1, 575, 000 1-1-90 125M 6, 40%; 125M 6, 30%; 375M 6.25�/0; 620M 6, 00°�0;
330M 5. 50°jo
640, 000 1-1-85 185M 4. 875�/0; 50M 4, 80°jo; 50M 4. 75°�/0; 50M 4„ 70%;
501V1 L 4. 65%; 50M 4, 60%; 50Ni 4. 55%; 50M L 4. 50%;
50M 4.40%; 55M 4. 30%
$4. 512, 000
1
-48-
r
A5SET5
Current Year Prior Year
1974 1973
Current Assets
Cash on hand and in depositories 64, 155 45, 581
Miscellaneous receivables 790 1, 3b3
Temporary investments 1, 542
Due f rom othe r fund s 310 12
Merchandise inventory (Note 4) 171, 205 165, 885
Prepaid expenses 60 337
Total Current Assets $236. 520 $214, 720
Pro�e rtie s
I'ixtures and Equinment
Humboldt Square Store 32, 584 43, 939
Erooklyn Boulevard Store 20, 600 20, 145
Northbrook Store 25" 643 �5. 369
78, 827 89, 453
Less: Accumulated provision for
depreciation 31.250 36.418
Net Fixtures and Equinment 47.577 53.035
Leasehold and Land Improvementa
Humboldt Square Store 16, 766 19, 219
Brooklyn Boulevard 5tore 4, 229 4, 229
Northbrook Store 10. 402 10, 402
31, 397 33, 850
Less: Accumulated provision for
amortization 12. 963 6, 786
Net Leasehold and Land Imnrove-
ments 18, 434 27. 064
Total Book Value of Pronerties 66 O11 80, 099
Total Assets $302 531 $294, 819
(See notes to financial statements)
This statement is an integral part of report dated 5eptember 15, 1975,
-49-
E xhibit 16
Citv of Brooklvn Center
Municinal Liquor Fund
BALANCE SHEET (COMPARATIVE)
December 31, 1974 and 1973
LIABILITIES AND SURPLliS
Current Year Prior Year
1974 1973
Current Liabilities
Accounts payable 76, 706 78, 960
Accrued sales tax payable 7, 558 7, 22$
Accrued salaries and wages payable 4, 233 3, 484
Accrued insurance payable 715
Due to other funds 81, 836 205, 367
Contracts payable 3, 292
Total Current Liabilities $171.048 $298. 331
Retained F.arnin�s
RetainEd earnings (deficit) (Exhibit 17) $131.483 3.512)
Total Liabilities and Retained Earnints $302, 531 $294. 819
t
-50-
Exhibit 17
Citv of Brooklvn Center
Municinal Liquor Fund
ANALYSIS OF CHANGES IN SURPLU5 (COMPARATIVE)
Years 1974 and 1973
Current Year Prior Year
1974 1973
Retained Earnin�s Januarv 1 3, 512) 77, 215
Add: Net income (Exhibit 19) 134. 995 123.316
Balance and Additions $131, 483 $200, 531
Deduct: Transfers to General Fund (Exhibit 4) 204.043
Retained Earnin�s (Deficit) December 31 (Exhibit 16) $131.483 3.5121
(See notes to financial statements)
This statement is an integral part o# report dated 5�ptember 15, 1975,
-51-
E xhibit 18
C itv of B rooklvn Cente r
Municinal Liauo r F und
SUMMARY STATEMENT OF CHANGES IN FINANCIAL POSITION
(COMPARATIVE)
Years 1974 and 1973
Current Year Prior Year
1974 1973
Source of F unds
Operations:
Net income for year (Exnibit 19) $134 995 $123, 316
A�d: Charges not requiring funds
depreciation 12 679 5, 995
Reduction of working capital 126, 417
Property purchase contract reduction 2, 453
Property dispositions gross 11, 670
Less: Reserve for depreciation 11.670 -0-
Total Source of Funds $150, 127 $255, 728
Annlication of Funds
Purchase of prope rtie s 1, 044 51, 685
Increase in working capital 149, 083
Transfers to General Fund 204, 043
Total Annlications of Funds $150. 12? $255. 728
Analvsis of Chan�es in Wrarkin� Canital
Beginning End of Working Capital
of Year Year Increase (Decrease)
Current assets $214, 720 $236, 520 21, 800
Current liabilities 298. 331 171, 048 127, 283
149 0 8 3
Workine Canital -.Year 1q74 83. 6111 65. 472
Current assets $221, 785 $214, 720 7, 065)
Current liabilities 178, 979 298. 331 (119. 3521
Workine Capital Year 1973 42. 806 83. 6111 $f 126.4171
(See notes to financial statements)
This statement is an integral part of report dated September 15, 1975,
-52-
5ales
Less: Cost of Sales
Gross Mar�in on �ales
OneratinQ Exnenses Requirine Funds
Salaries and wages
Re nt
Insurance
Payroll taxe s
Uti litie s
Supplies
Heating
Repairs and maintenance
Laund ry
Inventory variance
Audit
Pro�ection services
Adve rti sing
Telephone
Legal fees
Provision for uncollectible checks (net of recoveries)
Cash (over) short
Mileage
Miscellaneous
Taxes and lic�nse
B reakage
Total Oneratin� Exnenses Reauirin� Funds
Net Oqeratin� Income (Lossl Before Denreciation and Amortization
Less: Deprecr.ation and amortization
Net Oneratin� Income (Loss)
Add: Income from sale of equipment (Lyndale Store)
IVZiscellaneous income
Net Income (Exhibit 17 and 18)
(See notes to financial statements)
Tnis statement is an integral part of report dated SeptemY�er 15, 1975.
-53-
Exhibit 19
Citv �f Brooklvn Center
Mun.icipal Liquor Fund
STATEMENT OF INCOME AND EXPENSE fCOMPARATIVEI
Years 1974 and 1973
Combined Total
Humboldt 5quare Erooklyn Boulevard Northbrook Current Year Prior Year
5tore 5tore Store 1974 1973
$439, 489 $629, 083 $814, 612 $1, 883, 184 $1, 468, 138
357, 396 512. 839 665, 403 1, 535. 638 1. 161. 053
82.093 $116.244 $149.209 347,546 307.085
34, 686 43, 829 45, 451 123, 966 116, 295
14, 643 -0- 13, 290 27, 933 14, 434
3,089 3,756 4,278 11,123 12,786
3,381 4,535 4,245 12,161 10,029
3, 334 2, 387 3, 349 9, 070 7, 367
1, 929 1, 601 2, 192 5, 722 3, 645
568 471 673 1, 712 2, 215
401 456 991 1, 848 1, 936
S75 904 797 2,276 1,625
322 453 664 1 439 1, 604
437 755 860 2, 052 1, 616
397 538 495 1, 430 1, 482
176 145 145 466 1,009
269 275 274 818 849
683
121 182 140 443 428
119 157 68 344 296
21 21 20 62 187
68 l3 16 157 184
20 20 19 59 86
29
64,556 60,558 77.967 203,081 178.785
17,537 55,686 71,242 144,465 128,300
6.926 1.129 4.624 12,679 5,995
10.611 54.557 66.618 131,786 122,305
2,102 853
1.107 158
134.995 123.316
1
-54-
ASSETS
Current Year Prior Year
1974 1973
Plant. EauiAment and Construction Funds
Mains and lines $10, 516, 609 $10, 211, 678
Structures 1, 046, 419 406, 128
Equipment 284, 229 284, I37
Meters 268, 481 259, 015
Land 23. 621 23, 621
Plant and Eaui�ment in Service (Exhibit 25) $12, 139, 359 $11, 184, 579
Construction in progress 252, 158 603, 144
Unexpended bond proceeds (Note 5) 56. 134 71. 169
Total Plant. Equinment and Construction Funds $12.447, 651 $11. 858.
892
Restricted Aasets
Investments funded depreciation (Note 6) 766 598 636 149
Deb� retirement account Note 5) 149, 157 190, 900
Metro Waste Control Commission receivable (Note 7) 285, 892 295, 754
Investments plant expansion (Note 5) 1. 690.408 1. 466. 765
Total Restricted Assets 2, 892. 055 2. 589. 568
Other Assets
Assessments receivable principal portion 142, 529 137, 160
Investments available for payment of construc�ion
liabilities 533, 932
Total Other Assets 142, 529 671. 092
Current and Accrued Assets
Cash in bank 3, 440 13, 819
Accounts receivable 91, 007 77, 647
Accrued revenue (water pumped but not billed) 76, 511 73, 435
Materials and supplies 8, 244 8, 195
Prepaid expenses 46, 180 19, 085
Assessments receivable 15, 765 2, 672
Due from other funds 215, 086 213, 321
Due from other governmental units 5. 3$4 43. 367
Total Current and Accrued Assets 461. 617 451. 541
To�als $15.943.852 $15.571.093
(See notes to financial statements)
This statement is an integral part of report dated September 15, 1975
-55-
Citv of Brooklvn Center �xhibit 20
Public Utilitie s F und
BALANCE SHEET (COMPARATIVE)
December 31, 1974 and 1973
LIABILITIES, RESERVES AND RETAINED EARNING5
Current Year Prior Year
1974 1973
1 Sources of Investments in F'ixed Assets
Long-Term Debt:
Revenue bonds (Exhibit 26)(Note 5) 725, 000 755, 000
Contributions, reserves and surplus:
Contributions from special assessments and contractors 9, 826, 475 9, 538, 172
Revenue bonds redeemed (Note 5) 275, 000 245, 000
Interest income accumulated on bond proceeds 325, 381 303 896
Depreciation provisions represented as invested
in plant (Note 6) 925, 545 915, 988
Plant and equipment charged to inc�me 370.250 100. 836
Total 5ources of Investments in Fixed Assets $12.447. 651 $11. 858. 892
Reserves for Restricted Assets
Depreciation provisions represented as not invested in
plant Note 6) 766, 598 636, 149
Debt service reserves (Note 5) 149, 157 190, 900
Metro Waste Control Cornmission Reserves (Notie 7) 285, 892 295, 754
Restricted for plant expansion (Note 5) 1, 551, 765 1, 466, 765
Reserve for the repurchase of water meters (Note 8) 275. 633
Total Reserves for Restricted Assets 3.029.045 2. 589. 568
Other Liabilities and Credits
Customer meter deposits (Note 8) 625 263, 034
Deferred gain on sale of assets (Nc�te 7) 85, 406 88 690
Construction contracts 533. 698
Total Other Liabilities and C;redits 86.031 885.422
Current and Accrued Liabilities
Vouchers payable 9, 867 39, 149
Contracts and notes payable 301 301
Accrued salaries payable 2, 702 1, 988
Accrued sales tax payable 1, 360 l, 253
Due to other funds 199, 923 106, 843
Construction contracts operations 52. 361
Total Current and Accrued Liabilities 266 514 149. 534
Balance of Retained Earnin�s (Exhibit 22) 114. 611 87. 677
Totals $15.943.852 $15.571.093
-56-
Citv of Brooklvn Center Exhibit 21
Public Utilities Fund
STATEMENT OF CHANGES IN FINANCIAL, POSITION (COMPARATIVE)
Years 1974 and 1973
Current Year Prior Year
1974 1973
Sources
Ope rations:
Utility income 435, 931 527, 510
Add: Charges not requiring outlay of funds:
Depreciation (Fxhibit 22) 141. 470 142. 728
577, 401 670, 238
Less: Bond interest and service charge expense 29. 511 30. 639
Total From Onerations 547, 890 639, 599
Decrease in working capital 106, 904 83, 674
Contributions by contractors and special assessments 288, 303
Increase in customer meter deposits 15, 612
Restriction of retained earnings for plant expansion
(Note 5) $5, QQp 444, 3].2
Interest income accumulated on bond proceeds 21, 485 39, 002
Reduction of l�Zetro Waste Control Commission receivables
(Note 7) 9, 862 8, 741
Equipment retired net) 91
Customer deposits assumed on transfer of ineters(No� R1 275. 633
Total 5ources �I. 335, I68 $1. 230. 940
An�olications
Invested in plant and equipment 568, 829 77, 213
Increase in construction funds 21, 485 39, 003
Increase in reserve for current year deferment charge
of Metrp Waste Control Commission 748
Debt retirement 30, 000 30, 000
Increase in reserve for plant expansion 85, 000 444, 312
Amortization of deferred gain on sale of assets 3, 284 3, 285
Increase in restricted investments 353, 858 570 661
Increase in restricted debt service assets 4, 934 2, 865
Increase in assessments receivable 5, 369 51, 509
Decrease in custom�r meter deposit liability {Note 8) 262, 409 1
Reduction in contributions by contractors and special
assessments 11, 344
Total Annlications 335, 168 $1, 230. 940
Chanr�es in Workin� Canital
Working capital, beginning of year 302, 007 385, 681
Working capital, end of year 195. 103 302. 007
Decrease (Increasel in Workin� Canital 106.904 $3. 674
See notes to financial statements)
This statement is an integral part of report dated September 15, 1975.
-57�
c:itv ot �srooklvn l,enter Exhibit 22
Public Utilities Fund
STATEMENT OF OPERATIONS AND RETAINED EARNINGS (COMPARATIVEI
Years 1974 and 1973
1974 Combined
Water Sewer Current Year Prior Year
Dgnart en Denartment 1974 1973
Utilitv Oneratin� Revenue
Residential sales $248, 813 $253, 606 $502, 419
$491, 383
Commercial sales 132, 989 163, 480 296, 469 284, 475
Service hookup charges 41, 278 41, 278 122, 733
Penalties 1, 012 4, 918 5, 930 6, 125
1 Othe r 5. 020 13. 205 18. 225 11. 734
Utilitv Operatin� Revenue $429. 112 $435. 209 $864, 321 $916. 450
Utilitv Oneratin� Exnenses
Operating expenses (Exhibits 23, 24) $142, 772 $328, 274 $471, 046 $383, 000
Depreciation (Exhibit 25) 88. 696 52. 774 141.470 142. 728
Utilitv Operatin� Expenses $231. 468 $381. 048 $612, 516 $525. 728
Utilitv Oneratine Income $197, 644 54, 161 $251, 805 $390, 722
Other Income
Interest 101.423 82.703 184.126 136.788
Utilitv Income $299. 067 $136. 864 $435. 931 $527. 510
Income Additions
Recognition of customers meter deposits as income (Note 8) $275, 633
Metro Waste Control Commission reserves
restc��red to retained earnings (Note 7) 9. 862 8. 741
Total Income Additions $285.495 8. 741
Income Deductions
Redemption of debt 30, 000 30, 000
Interest on long-term debt 29, 400 30, 525
Bond paying agent charges 111 114
Capital outlay charged against income 269, 414 71 945
Charge for reserve for current year deferment 748
Adjustment of debt service reserves to restricted asset balance 934 2. 865
Reserve for the repurchase of water meters (Note 8) 275. 633
Total Income Deductions $609.492 $136, 197
�Balance of Income Available for Transfer to Retained Earnin�s $111, 934 $400, 054
(Exhibit 21)
'Retained Earnin�s Januarv 1 87, 677 131. 935
Available for Annronriation $199 61 1 $531 989
Less: Appropri�.tion of retained earnings 85, 000 444. 312
�Retained Earnin�s December 31, Exhibit 20 �114, 611
87.677
i (See notes to financial statements)
This statement is an integral part of report dated Se ptemUer 15, 1975,
-58-
Source
of 5upplv Transmission
Labor 10,204 8,132
Electricity 24, 767
Rent and administration
Purification supplies 10, 944
Postage
Payroll taxe s
Insurance
Materials 883 2, 538
Repairs 411 2,553
Supplies 338 1, 190
Printing
Consulting fees
Equipment operation 100 209
Fuel heating 948
Equipment rental lt'4
Fuel equipment
Schools and conferences
Uncollectible accounts
Small tools and equipment 82
Re fund s
Loss on retirement of assets 91
Dues and subscriptions
Alarm system
Totals 48.677 14.817
(See notes to financial statements)
This statement is an integral part of report dated September 15, 1975,
59'
1 C itv of B rooklvn Cente r Exhibit 23
Public Utilities Fund
WATER DEPARTMENT OPERATING COSTS (COMPARATIVE)
Years 1974 and 1973
Classification bv Function Combined Totals
Customer Current Year Prior Year
I A�lministration Accounting 1974 1973
29,163 15,625 63,124 54,8$1
24, 7b7 19, 469
10,965 10,9b5 9,152
10, 944 7, 610
5, 946 5, 94b 3, 575
5,319 5,319 4,970
3, 635 3, 635 3, 006
3,421 5,454
2, 9�4 1, 658
27 159 1,714 1,449
413 1,297 1,710 663
1,617 1,617 1,410
730 218 1, 257 1, 1 14
948 1 087
�4"L 946 432
�4 g97 560
773 773 500
744 7�4
1 4 E�� 1 543 918
447 1 450
91 91�
175
60
5E _�J3 3 23. 245 �142. i72 $120, 541
I
_�o-
1
Disposal
Pum it� n� Transmission
Metro Waste Control Commission charge
Note 7) $245, 387
Labor 8,083 8,377
Rent and adminiatration
Repairs and maintenance I, 073 5, 555
Electricity 5, 920
Payroll taxes
Materials 626 1, 861
Postage
Consulting fees
Supplies 522 897
Inaurance
Equipment operation 114
Fuel equipment
Interest expense 86g
Uncollectible accounts
Small tools and equipment 334
Refunds
Alarm system 396
Equipment rental 221
Printing
Legal fees 148
I uel heating 108
Schools and conferences
i
Totals $263. 800 16, 690
(See notes to financial statements)
This statement is an integral part of report dated
-61-
1 Citv of Brooklvn Center Exhibit 2�
Public Utilities Fund
SEWER DEPARTMENT OPERATING EXPEN5E5 (COMPARATIVEI
Years 1974 and 1973
Classification bv Function Combined Totals
Customer Current Year Prior Year
Administration Accountin� 1974 1973
t $245, 387 $194, 842
16, 122 7, 038 39, 620 35, 141
1 10,965 10,965 9,152
6, 628 876
5,920 7,159
5,319 5,319 3,182
2,487 1,575
1, 617 1, 617 1, 158
1, 617 1, 617 942
35 59 1,513 426
1 1,387 1,387 1,376
725 218 l, 507 1, 150
897 897 560
868
743 743
231 565 819
535 535 2,076
I 396 710
221 184
69 126 195 162
148 600
108 163
81 81 206
38.726 9.058 $328.274 $262.459
-62-
Assets
1 12-31-74
Balance Additions Retirements Balance
Water Denartment
Mains and lines 4, 934, 315 $251, 251 5, 185, 566
Structures 406,128 640,291 1,046,419 i
Consumer meters in use 259, O1� 11, 021 1, 555 268, 480
Equipment 274, 108 92 274, 200
Ia.nd 23. 071 23. 071
Total Water Denartment 5. 896. 636 $902, 655 1. 555 6. 797, 736
Sewer Department
Mains and lines 5, 277, 363 53, 680 5, 331, 043
Equipment 10, 030 10, 030
Land 550 550
Total Sewer Det�artment 5.287. 943 53. 680 5. 341. 623
Totals $11. 184. 579 $956, 335 1. 555 $12. 139. 359
(Exhibit 20)
(See notea to financial statements)
This statement is an integral part of report dated Septem.b�r 15, 1975.
1
-63-
1
E xhibit 2 5
Citv of P.rooklvn Center
Public Utilities
5TATEMENT OF PLANT AND EQUIPMENT AND ALLOWANCE
FOR DEPRECIATION
Decembe r 31, 1974
Allowance for Depreciation
1-1-74 12-31-74 Depreciable
Balance Additions Retirements Balance Life Years)
425,701 49,343 475,044 100
173, 044 13, 538 186, 582 30
97, 139 �12, 951 1, 463 108, 627 2p
130, 482 12, 864 143, 346 5, 10, 20, 25
826,366 88.696 1,463 913,599
1
715, 741 52, 773 768, 514 100
10, 030 10, 030 5, 10, 20, 25
725.771 52.773 778.544
$1,552.137 $141.469 1.463 $1.692, 3
14
(Exhibit 22) (Note 6)
1
-64-
Revenue Bands Favable
Principal Inte re st Year
Certificate Interest Qutstanding Coupons Out- of
Numbers Rate 12-31-74 standin� 12-31-74 Maturitv
56-61 3. 90% 30, 000 28, 264 1976
62-68 3, 90 35, 000 27, 056 1977
69-?5 3. 90 35, Op0 25, 740 1978
76-82 3.90 35,000. 24,375 1979
83-89 3.90 35,000 23,010 1980
90-06 3.90 35,000 21,645 1981
97-104� 3.90 40,000 20,231 1982
105-112 3,90 40,000 1$,720 1983
113-12� 3.90 40,000 17,160 1984
121-128 3.90 40,000 15,600 1985
i29-137 3. 45 ,aoo i3,991 19s6
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, g0 45, 000 1, 755 1993
$725, 000 $2$4, 932
(Exhibit 20)
(See notes to fin�.ncial statements)
r
This stateznent is an integral part of report dated September 15, 1975.
-65-
Exhibit 26
City of Brooklvn Center
Public Utilities Fund
STATEMENT OF REVENUE BONDS PAYABLE
December 31, 197�
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, 1982 or thereafter
are subject to redemption (call) on January 1, 1974, or
any interest payment date thereafter in inverse numerical
order, at par and accrued interest and premium as follows:
1 1. If red ee med prior to January 1, 1977, premium of
3
2. If red ee med January 1, 1977, or thereafter prior to
1 January 1, 1981, premium of 1-1 /2
3. If redeemed January l, 19g1, or thereafter, no
premium.
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 retirernent
purposes and defines the manner in which the activities of
the Public Utilities Fund will be accounted for. Note 5 of
"Notes to Financial Statements" refers to various accounting
requirements in more detail and should be referred to.
-66-
A�encv_
Fire
Departmer�t
Re lief
Association
A S S E T S
Cash on hand and i� depositories
Inve stments
Accrued revenue
Due f rom othe r fund s 92
Taxes receivable:
Current year's levy 2, 206
Prior years' levy 1. 195
Total Assets 3.493
LIABILITIES AND FUND BALANCES
Accounts payable
Due to othe r fund s
Fund balances Exhibit 28) 3. 493
Total Liabilities and Fund Balances 3.493
See notes to fi ancia s a e nt
1 t t me s)
This statement is an int�gral part of report dated September 15, 1975
-67-
Citv of BrAaklvn Center Exhibit 27
Trust and A�encv Fund�
COMBINED BALANCE SHEET (COMPARATTVE)
December 31. 1974 and 1973
A�encv Trust
Public
Employees Police Combined (Note 101
Retirement Pension Current Year Prior Year
As sociation F'und 1974 1973
35 50 85 122
6,067 697,138 703,205 542,860
12,376 12,376 9,006
11,465 107 11,664 4,666
5,829 4,154 12,189 5,959
2.731 2.273 6.199 5.848
26.127 $716.098 74 718 $568.461
14,324 14,324 12,443
21, 227 21, 227
11.803 694.871 710.167 556.018
26.127 $716.09$ $745.718 68 461
-68-
Agen�cv,�
Fire
Department
Re lie f
Association
Fund Balance. Januarv 1 2, 259
Add: I
Real estate taxes 38, 858
Insurance premium rebate 27, 087
PERA contribution from enterprises fund:
Liquo r sto re s
Public Utility Fund
Employee contributions
Earnings on temporary investments
Balance and Additions 68.204
Deduct: Expenditures:
Payment to principal of agency 64, 711
W rite-off of tax levy balance s
Refund of employee contributions
Total Exvenditures 64, 711
Fund Balance December 31 (Exhibit 27) 3.493
(See notes to financial statements)
This statement is an intral part of report dated September 15, 1975.
69
Citv of Brooklvn Center Exhibit 28
Trust and A�encv Funds
COMBINED STATEMENT (aF R�VENUE.
EXPENDITURES AND FUND BALANCE5 (COMPARATIVEI
Years 1974 and 1973
A�rencv Trust
Pub li e
Employees Police Combined
Retirement Pension Current Year Prior Year
Association Fund 1974 1973
677) $554, 436 $556, p18 $456, 767
103,042 51,076 192 160,228
21,228 48,315 27,469
12,160 12,160 10,029
9,104 9,104 7,362
23, 637 23, 637 18, 484
150 44, 494 44, 644 32. 316
$123.779 $694.871 $886.854 71 655
�2.
$111
$176, 687 $150, 982
206
5. 449
$111.976 $176.687 $156.637
11.803 $694,871 $710.167 $556,01$
-70-
ASSETS
Cash in depositories
Accrued interest receivable
Investments:
Net
Face Premium or Cost
Va1ue (Discount) Basis
Certificates of deposi� 615, 000 615, 000
U. S, Government agency securities 5, 515, 000 l, 239 5, 516, 239
Construction loan certificates 1• 299, 800 1. 299. 800
Totallnvestments 7 4 800 1.239 r
Total Assets
LIABILITIE5
Contract payable
Due contractors (perfoxmance deposixs)
Unclaimed cash (law enforcernent activities)
Due participating funds (Exhibit 31)
Total Liabilitie s
(See notes to financial statements
This statement is an integral part of rEport dated September 15, 1975.
1
1
Exhibit 29
Citv of Brooklvn Center
Investment Trust F'und
BALANCE SHEET (COMPARATIVEI
December 31. 1974 and 1973
Current Year Prior Year
1974 1973
832) 5, 764
222,696 145,464
7. 431. 039 6, 307. 901
$7.652.903 ,�6 459.129
l, 439
17, 167
30,525 29,887
18 18
7. 620. 921 6. 412, 057
$7. 652.903 $6.459. 129
1
-72-
Exhibit 30
Citv of Brooklvn Ceriter
I.nvestment Trust Fund
STATEMENT OF EARNINGS (COMPARATIVE)
December 31. 1974 and 1973
Current Year Prior Year
1974 1973
Inte re st Income
United States Gover,nment securities $394, 967 $326, 656
Construction loans 46, 290 41, 719
Bank savings certificates 63. 432 23 656
Total Interest Income $504, 689 $392. 031
Exnense s
Audit $75 810
Bank charges 104 -0-
Total Exnenses 979 810
Net Income Distributed to Participatin� Funds $503. 710 $391.221
(Exhibit 31)
Exnlanation
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
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
1969 5. 90 164, 336
195b-1968 2, 77-5.20 672.442
Total Distributed Earnin�s for Years 1956-1974 �2 623. 310
(See notes to financial statements)
This statement is an integral part of report dated September 15, 1975,
-73-
t E xhi bit 31
Citv of Brooklvn Center
Investment Trust Fund
CHANGES IN PARTICIPATING FUNDS' BALANCE,
Year 1974
Balance Net Fund Income of Balance
January 1, Additions 1974 December 31,
1974 Withdrawals) Distributed 1974
Soecial Assessment Funds
Bond Fund No. 1 12, 120 565 940 13, 625
1955 A 93, 388 6, 649) 4, 194 90, 933
1956 AC 130, 655 2, 325) 10, 204 138, 534
1956 B S� 307 2, 889 681 11, 877
1957 AB 15, 090 5, 790 1, 239 22, 119
1958 A 124, 427 9, 479) 9, 751 124, 699
1958 B 130, 518 16, 480) 10, 067 124, 105
1959 AB 114, 617 17, 558) 8, 966 106, 025
1960 AB 342, 345 22, 987) 26, 826 346, 184
1961 AB 396 392 22, 723) 30 796 404, 465
1963 A 225, 603 2, 840) 17, 646 240, 409
1965 A 59, 072 2� 126) 4, 692 61, 638
1966 A 88, 218 1, 594) 7, 580 94, 204
1969 A 77, 087 13, 669) 6, 332 69, 750
1970 113,477 145,095 11,913 270,485
1973 184, 539 38, 056 14, 973 237, 568
1974 -0- 15,713 -0- 15,713
G�neral Debt Retirement Funds 100, 579 1, 302 8, 742 110, 623
Othe r Fund s
Gene ral F�und 153, 190 89, 433 6, 592) 236, 031
Poor Fu,nd 13, 906 594 1, 024 15, 524
Public Employers' Retirement 2, O10 3, 907 150 6, 067
Liquor Fund 1, 542 1, 542) -0- -0-
Public Utilities Fund 2, 102, 914 190, 477 163, 615 2, 457, 006
Bond Funds 3, 793 -0- 290 4, 083
State Aid Construction Fund 1, 257, 703 174, 744 107, 871 1, 540, 318
Park Concessions Fund 811 2, 900 267 3, 978
Capital Projects Funds 107, 057 5, 429) 7, 960 109, 588
Library Sales Fund 188, 860 14, 901) 14, 462 188, 421
Public Utilities Construction
Account 16, 827 36, 234 3, 049 56, 110
Police Pension Fund 49, 030 33, 937 2, 585 85, 552
Open Space Land Aequisition Fund 9 46, 000 2, 789 48, 798
Public Utilities Revenue Bond
Account 57, 739 1, 099) 6, 059 62, 699
Federal Revenue Sharing Fund 240, 232 58. 919 24. 639 323. 790
Total All Participatin� Funds $6. 412, 057 $705. 154 $503. 710 $7. 620. 921
(Exhibit 30) (Exhibit 29)
(See notes to financial statements)
This statement is an integral part of report dated September 15, 1975.
-74-
Investment in Fixed Assets
Land and land improvements t
Buildings and building improvements
Park properties (including buildings)
Furniture and fixture s
Departmental equipment
Storm sewers and street projects
Tota1 Investment in Fixed Assets
Sources of Investments
General indebtedness
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 F und;
General obligations bonds
Ad valorem tax levy 1968 and 1969
Sale of land
Transfers of surplus from special assessments debt service funds
Transfer frozn Mayor and Council's Contingency Account
Interest earnings on investments
ederal revenue sharing monies
Total Sources of Investment in F ixed Assets
(See notes to financial statements)
This statement is an integral part of report dated
-75-
Citv of Brooklvn Center Exhibit 32
SUMMARY STATEMENT OF GENERAL FIXED ASSETS
December 31. 1974
Balance Year 1974 Balance
Januarv 1. 1974 Acauisitions Disposals December 31. 1974
319, 632 7, 600 327, 232
2, 751, 66q 13, 885 2, 765, 554
1, 424, 405 18, 900 1, 443, 305
151, 570 967 152, 537
951, 570 119, g97 17, 727 1, 053, 740
8. 523. 850 640, 644 9. 164. 494
$14, 122. 696 $801, 893 17, 727 $14. 906, 862
600,491 600,491
1,404,171 $159,169 17,727 1,545,613
304, 571 304, 571
320, 699 320, 699
8, 339, 938 640, 644 8, 980, 582
177,180 177,180
2,250,000 2,250,000
265, 243 265, 243
38, 654 38, 654
198, 386 19g, 3��6
3,000 3,000
207,615 207,615
12.748 2,080 14.828,
$14. 122. 696 $801. 893 17, 727 $14. 906. 862
1
-76-
Exhibit 33
Citv of Broaklvn Center
SUMMARY STATEMENT
OF GENERAL LONG-TERM DEBT AND INTERE5T (COMPARATIVE)
Decembe r 31. 1974 and 1973
Current Year Prior Year
1974 1973
Amount Available and to be Provided
Amount available in debt service funds (Exhibit 10):
Park bonds ?1, 071 66, 767
Library bonds 11, 424 10, 022
Building and improvement bonds 72, 792 55, 937
State aid street bonds 820 6, 393
Certificate of indebtedness 11. 839 11, 078
Total Amount Available 167.946 150. 197
Amount to be provided in future periods (Exhibit 34):
For interest $1, 489, 216 $1, 716, 363
For principal 3. 435. 150 3. 630. 183
Total Amount to be Provided �4,. 924. 366 �5 346. 546
Total Amount Available and to be Provided �5 092. 312 �.496. 743
General Debt and Interest to be Paid in uture Periods (Exhibit 34)
General debt (principal portion):
Park bonds 115, 000 135, 000
Library bonds 100, 000 110, 000
Building and improvement bonds 2, 000, 000 2, 125, 000
State and street bonds 955, 000 980, 000
Assessment on city properties (Note 8) 265. 150 280.
Total General Debt (nrincinal nortionl(Exhibit 34) �3 435. 150 $3. 630. 183
Interest payable in future periods:
Bonds (Exhibit 34) �1.657. 162 $1.866.560
Total Interest Pavable in Future Periods �1,.657. 162 $1 .866. 560
Total General Debt and Interest to be Paid in Future
Periods �5,.092.312 �5.496.743
(See notes to financial statements)
Thzs statement is an integral part of report dated September 15, 1975.
-77- t
General Debt Principal Portion
Payment Total Building 5tate Aid Assessments
Due Principal Total Park Library Improvement Street Payable No Interest
Durin� Interest Principal Bonds Bonds Bonds Bonds General Fund
1975 410,807 212,100 20,000 10,000 130,000 25,000 27,100
1976 441,486 254,756 20,000 10,000 140,000 55,000 29,756
1977 417,886 244,756 20,000 10,000 130,000 55,000 29,756
1978 409 936 249, 756 20, 000 10, 000 135, 000 55, 000 29, 756
1979 386, 661 239, 756 20, 000 10, 000 125 000 55 000 2q, 756
1980 3 58 967 224, 7�6 15, 000 10, 000 115, 000 55, 000 29, 756
1981 337,010 214,756 10,000 120,000 55,000 29,756
1982 335,236 224,756 10,000 125,000 60,000 29,756
1983 327,968 229,'��g 10,000 130,000 60,000 2q,758
1984 290, 570 205, 000 10, 000 135, 000 60, 000
1985 267, 545 195, 000 135, 000 60, 000
1986 259,840 200,000 140,000 60,000
1987 246,765 200,000 140,000 60,000
19g8 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
I
Totals $5,092. 312 $3,4�5, 150 $115, 000 $100, 000 $2,000 000 955, 000 $265. i50
(Exhibit 33) (Note 8)
(See notes to financial statements)
This statement is an integral part of report dated June 26, 1974.
78
City of B rooklyn Cente i• �'xhibit 3 4
SCHEDULE OF
GENERAL LONG-TERM DEBT AND INTERE5T BY MATURITIES
December 31, 1974
Inte re st Payable
Building State Aid
Total Park Library Improvement Street
Inte re st Bonds Bonds Bonds Bonds
193, 707 4, 765 3, 790 130, 000 60, 152
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
6, 075 6, 075
2,025 2,025
$1, 657, 162 $16, 290 $20, 890 $1, 062. 750 557.
(Exhibit 33}
-79.-
Citv of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
Year 1974
Note 1: The City Charter grants the City Council full authority to control
the financial policies of the City. The Council delegates the responsibility
for the administration and execution of their policies to the City Manager
who is the chief accounting officer for the City. The accounting and
bookkeeping of all City activities are centralized in the Finance
Department. The Finance Department has the responsibility for
maintaining and prescribing all financial records, establishing and maintain-
ing internal control, and the preparation and publicati.on of financial
and budgetary reports. The accounting activities of the City are divided into
various purpose groups or funds as required by statute and/or good
accounting practice. Except for minor variances, all accounting for
funds is on the accrual basis and in conformity with generally accepted
accounting principles applicable to governmental units as set forth by
the National Committee on Governmental Accountin�.
Governmental budgetary accounting concepts are employed wherever
useful as a control over financial activity. Formal budgetary procedures
are not used for the enterprise funds, which are operated by the City,
because these operations are of a commercial nature.
The accounting system employed by the Public Utilities Fund
is adapted from a system specifically designed for municipally-
owned utilities by the American Water Works Association, The
investment in plant and equipment is of primary importance to
utility operations and because this is so, the accounting method in
use emphasizes a source and application of monies concept in
accounting for plant and equipment costs. Accordingly, fixed assets
are shown at total cost on the left hand siae of the balance sheet
and depreciation provisions are shown on the right. This presentation
of assets at gross cost and the reflection of accumulated depreciation
as a reserve on the right hand side of the balance sheet is peculiar
to utility accounting and at odds with normal commercial concepts which
usually reflect accumulated depreciatian as a reduction against the
asset cost so as to show the net remaining cost of plant and equipment
not yet amortized to expense.
Note 2: All Funds
The "Combined Balance Sheet All Funds and Account Groups (Condensed
Form) 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
construed as indicative of the over all financial position of the Gity. 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.
-80-
C itv of B rooklvn C ente r
NOTES TO FINANCIAL STATEMENTS
Year 1974
Note 3: Special Assessment Funds
These funds are used to account for construction and financing of
public improvements such as streets, curbs, storm sewers, sanitary sewers
a.nd the water system. The accounting is arranged so that the related
activities of project construction, financing of construction and the
assessment of costs to property owners are recorded within the same fund
entity. Budgetary accounts are employed to provide a means of control
over expenditures incurred for construction.
Costs are assessed to property owners by the special assessments
division, under the supervision of the engineering and public works
department, after total project expenditures are verified with the
finance department.
The naminal differences on street and sewer projects between assessed
and actual costs, which are caused when costs are spread over many
properties, are guaranteed by the City.
Note 4: Municipal Liquor Fund
Merchandise inventories are valued at current wholesale prices
and the amount of cash discounts and promotional discounts 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 reports because it establishes a uniform basis of
measuring gross profit margins. The uniformity of gross margin measure
is necessary for purposes of good internal control. (Periodically, perpetual
inventories are verified by count and gross margins are examined in the
light of past experiences to detect any variances that may exist. This
method of valuation overstates inventory because discounts applicable to
merchandise on hand have been credited to operations (rather than reducing
invoice cost of inerchandise to actual cash cost). Accordingly, inventories
as of December 31, 1974 and 1973 (on Exhibit 16) are stated approximately
$14 000 and $13, 000, respectively, over actual cost. The effect on operating
results as reflected for the Year 1974 on Exhibit 19 is immaterial because
of the offsetting effect between beginning of the year and end of the year
inventory,
The Humboldt Square Store (5tore #1) occupies space in Humboldt Square
Shopping Center under terms of a lease which expires in J.978. The Brooklyn
Boulevard Store (Store #2) is located on city-owned property. Store #3 is
located in the• Northbrook Shopping Center and the premises are occupied
pursuant to terms of a lease which expires October 31, 1976.
-81-
Citv of Brooklvn Center
NOTE5 TO FINANCIAL STATEMENT5
Year 1974
Note 5: Public Utilities Fund
Public Utilities revenue bonds were issued during 1963 for the
purpose of financing an addition to the water 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 20)
Proceeds of bond sale ,�1, 000, 000
Add:
Investment earnings thru 1973 303 896
1974 investment earnings 21, 485
Total Investment Earnings 325, 381
(Exhibit 20)
Deduct:
Construction expenditures thru 1973 $1, 232, 727
1974 construction expenditures 36, 520
Total Construction Expenditures $1 269 247
Construction Account Balance (Exhibit 20) 56, 134
Debt Retirement Account Exhibit 20
Accumulated amounts set aside to
meet 1975 requirements for interest
and principal
Cash 45
Inve stment 5 with ac c rued inte re st 74, 1 12
Reserve account investments 75, 000
Total Debt Retirement Account 149. 157
-82-
r
Citv of Brooklvn Center
NOTES TO FINANCIAL STATEMENTS
Year 1974
Note 5: Public Utilities Fund
Cont'd 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 Account Account
Restricted Assets 12/31 /74 56. 134 74. 157 75, 000
Restricted Surpluses at 12/31 /74 56. 134 74. 157 75, 000
Investment plant expansion and related reserve
Since 1963 the Public Utility Fund has been accumulating funds
for the purpose of expanding their investment in plant and equipment to
supply water to the residents of the City, The present plan for expansion
of facilities has a cost estimate of $6, 184, 000. The planned capital
outlays include the construction of water mains, a 1. 5 MG water tower,
and a 10 MG water treatment plant with completion estimated during 1978.
The amount of $1, 551, 765has been set aside or reserved to
partially meet the financing requirements of this capital budget. A plan
for the systematic accumulation of the remaining balance is currently
unde r study.
Note 6: Public Utilities Fund
Annual depreciation charges to income (which are non-cash expenses)
have the effect of conserving monies or other current assets within
the entity because they reduce the balance of retained earnings available
for purposes of rate reduction or transfer. A portion of the monies so
conserved (or reserves accumulated) has been reinvested in plant facilities
and accordingly these "depreciation provisions" are segregated as to the
portion of reserves which have been reinvested in plant 1974, $925, 545;
1973, $915,988) and those amounts held in Reserve (1974, $766,598;
1973, $636, 149) as funded depreciation.
-83-
Citv of Brooklyn Center
NOTE5 TO FINANCIAL STATEMENTS
Year 1974
Note 6: Public Utilities Fund
C ont' d
This presentation of assets at gross cost and the reflection of
accumulated depreciation as a reserve on the right hand side of
the balance sheet is peculiar to utility accounting and at odds with
normal commercial concepts which usually reflect accumulated
depreciation as a reduction against the asset cost so as to show the net
remaining cost of plant and equipment not yet amortized to expense.
Because the investment in plant and equipment is of such para-
mount importance, the balance sheet presentation used, with
an informative emphasis on source and application of monies for
plant investment, is considered the most appropriate. However,
if the presentation employed usual commercial concepts, the
balance of plant, equipment and construction funds (1974, 12, 195, 493;
1973, $11, 858, 892) would be reflected net of depreciation provisions at a
total of (1974, $10, 503, 350 19 3, $10, 3 O6, 75�),
Note 7: Public Utilities Fund Metro Sewer Board Receivable and Reserves
Pursuant to enacted legislation (Metropolitan Sewer Act-
Chapter 449 Session Laws) the Metropolitan Sewer Board, as of
January 1, 1971, assumed ownership of all existing interceptors
and treatment work� needed to implement a comprehensive plan
for the collection, treatment, and disposal of sewage in the seven county
metropolitan area.
Under the terms of the Act the sewer board is obligated to
reimburse each local government for the cost of facilities acquired. This
cost or purchase price of facilities is based on depreciated replacement
cost value as of December 31, 1970 as determined by cost analysis
and engineering studies. This current value receivable is to be paid by the
Metropolitan Sewer Board 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 Sewer
Board annually.
The installment credit for 1974 consisted of principal and
interest and the amount of credit offset against 1974 s �-wer service
billings totaled $8, 741 leaving a balance due over the next 26 years
of $221, 422. Exhibit 20
-84-
Citv of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
Year 1974
Note 7: Public Utilities Fund Metro Sewer Board Receivable and Reserves
Cont'd In addition to providing for reimbursement of facility costs the
Act empowers the sewer board to defer certain reserve capacity costs
when they are disproportionate to the economic resources of the local
governmental unit involved, These deferred costs are then allocated
to all participating communities upon the basis of population and
assessed valuation. The provisions for deferment, essentially are
designed to provide temporary economic relief to the governmental
units affected by the Act and are repayable. The current year deferment
charge 64, 470, Exhibit 20) is collectible over the next five years.
The current value receivabl� $221, 422 and the current year
deferment charge, $64,470, are restricted as to use. These amounts
are to be applied to payment of sewer service costs and accordingly
on the balance sheet (Exhibit 20) are shown as restricted reserves.
Exhibit 20 also reflects a deferred gain on the sale of assets to
the sewer board. The original gain totalled $98, 545 and represents
the recovery of past depreciation charges. The amount of gain is
being amortized as a reduction of sewer service billings over a period
of thirty years (the term of the current value receivable credit). The
current year's amortization in the amount of $3, 284 has been applied
as a reduction of Metro Sewer Board charges (see Exhibit 24) and the
amount remaining to be amortized in future years is reflected on
Exhibit 20 at the remaining amount of $85,406,,:
Note 8: Public Utilities Fund.
Ordinance 4-201 Subdivision 6 provides for the sale of water meters
to water utility customers at a price established by the City Council. The
ordinance also states that the water utility shall repurchase water meters
at the original sale price paid by the utility customer, when that custome r
disposes of �is property within the City. The adoption of this ordinance
results in the recognition of income in the amount of $275, 633 and accordingly
the establishment of a reserve in a like amount to provide for the repurchase
of those meters,
Note 8: Summarv Statement of General Lon�-Term Debt and Interest
Special assessments which relate to improvements benefiting
City-owned properties total Z65, I5Oas of December 31, 1974„
The payment for these improvements (with no interest charge) has
been scheduled over a period extending through 19g3. These assess-
ments are obligations of the general fund and payment is planned under
normal budget procedures, whereby the needed monies will be appro-
priated during the years as each installment becomes due.
-85-
Citv of B rooklvn C ente r
NOTES TO FINANCIAL STATEMENTS
Year 1974
Note10: Librarv Sales Fund
During October, 1973, the City completed a sale to Hennepin County of
the site on which the Hennepin County Library is located. The proceeds
of the sale, $34, 750. 00, were placed in the Library Sales Fund temporarily.
Because the General Fund had paid $5, 387. 56 in special assessments due on
the property, that amount ($5, 378. 56) was applied to a transfer to be made
to the General Fund. The balance of $29, 362. 44 will be applied to Park
Bond Debt Service because the property, originally part of Northport Park,
was purchased with Park Bond monies. Section 12. 05 of the City Charter
requires that the proceeds of sales of real property be applied to the debt
service of the bonded debt incurred to acquire the property.
Note 11: Pension Plans and Pension Funds
The City contrtbutes to three pension plans as follows:
1. Public Employees' Retirement Association,
2. Firemen's Relief Association, and
3. Police Pension Fund,
The Public Employees' Retirement Association is a State-administered
plan which contains two types of coverage. One coverage is called the
Coordinated Plan and is combined with social security, All entrants to
the Plan since 1967 are covered under the Coordinated Plan. P.E.R.A.
applies to all permanent employees except policemen, who have an
independent retirement plan. The State-administered P.E.R,A, informs
the City each year of the amount needed to provide employees' benefits.
The City made P,E,R,A, payments of $111,976 for the year 1974.
The Firemen's Relief Association is an independently-administered
retirement plan. Actuarial studies are made of retirement needs and the
City is informed of the levy needed. The City receives such levy collections
from the County and transmits them to the Association together with
insurance premium fees received from the 5tate. The City paid $64, 711 to
the Association during the year 1974.
The Police Pension Fund is administered by the City. The City levies
taxes as needed as shown by actuarial studies. Amounts received are
invested on behalf of the Police Pension Fund and are held in trust for the
Fund. The City levied $51, 076 for the year 1974.
t
-86-
'Citv of Brooklvn Center
NOTES TO FINANCTAL STATEMENTS
Year 1974
Note 12: Contin�ent 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 the properties involved in the special
assessment districts are insufficient to retire outstanding bonds.
These notes are an integral part of report dated September 15, 1975.
1
-87-
5 T A T I S T I C A L
I I N F O R M A T I O N
I S E C T I O N
t
1966
Population 31. 500 (E) t
Real Prope rtv
Assessed Value:
Homestead 6, 262, 938
Non-Home stead 5. 885 4� 5
Total Aasessed Value 12. 148. 363
Estimated Value:
Full and True 39. 765. 314
Market $119. �95. 94�
Personal Pronertv
Assessed Value 1.�, 654
E stimated Value:
Full and True 3. ,�71. 781
Market 9.815.343
Total Real and Personal Propert��
Assessed Value 13.371.017
Estimated Full an�l True Value 43.037.095 t
Estimated Market Value $129. 111.285
Ratio of Total Assessed Vaiue to Total
Estimated Full and True Value 31069:1
Estimated Market Value 10356•1
Per Canita Valuations
Assessed Value 424• 48
Estimated r'ull and True Value 1. 366.26
Estit, atecl Market Value 4, 098. 77
-88-
Schedule 1
Citv of Brooklvn Center
AS5ESSED VALUE AND ESTIMATED TRUE VALUE AND
MARKET VALUE OF ALL TAXABLE PROPERTY
Bv Bud�et Years I
1967 1968 1969 1970 1971 1972 1973 1974 1975
31. 570 (E) 31. 000 (E) 34. 306 (E) 34, 717 (E) 35. 173 36, 370 (E) 36. 908 (E) 37. 207 (E) 36, 954 (E)
6, 378, 859 10, 148, 539 (2) 11, 970, 877 (2) 12, 472, 359 (2) 6, 882, 636 15, 956, 478 (2) 52, 150, 596 (2) 53, 857, 283 (2) 55, 031, 870 (2)
7. 911. 159, 5, 093. 781 7. 369. 710 8. 173. 952 19. 089. 306 10. 500, 479 36. 527. 538 40. 147. 670 42. 501. 704
14.290. 018 15.242. 320 19. 340. 587 20. 646, 311 25. 971. 942 26, 456, 957 88. 678. 134 (3) 94. 004. 953 (3) 97. 533. 574 (3)
45. 335. 857 47. 862. 541 58. 283. 382 61. 796. 482 75. 340, 288 76, 641. 045
$136. 007. 571 $143. 587. 623 $174. 850. 146 $185. 389. 446 $226, 020. 864 $229, 923. 135 $249. 328, 665 $262. 535. 943 $270. 699. 261
(1) (1) (1) (1)
1. 301. 952 1. 574. 574 1, 603. 159 1. 619. 077 1. 588, 260 1. 313. 422 2. 403. 743 2. 657. 185 2. 852. 992
3. 511. 171 3. 410. 110 3, 510. 323 3. 548. 068 3. 464. 717 3. 576, 728
10. 533. 513 10.230. 330 10. 530. 969 10. 64�4. 204 10. 394. 151 10. 730. 184 5. 590. 100 6. 179. 500 6, 634. 865
15. 591, 970 16. 816 20. 943. 746 22. 265. 388 27. 560. 202 27. 770 37� 91. 081. 877 96. 662. 138 $100. 386. 566 (4)
48. 847, 028 51. 272. 651 61. 793. 705 65, 344. 550 78. 805. 005 80. 217. 773
$146.541.084 $153.817,953 $185.381.115 $196.033.650 $236.415,015 $240.653,319 $254.918,765 $268.715.443 $277.334.126(4)
31920:1 32799:1 33893:1 34074:1 34973:1 34619:1
10640:1 10933:1 11298:1 11358:1 11658:1 11540:1 35730:1 35972:1 36197:1
493.89 509.60 610.50 641.34 783.56 763.55 2,467.81 (3) 2.597.96 2,716.53 (3)
1.547.26 1.553 7� 1.801.25 1.882.21 2.240.50 2.205.60
4, 641. 78 4. 661. 15 5. 403. 75 5. 646. 61 6. 721. 49 6. 616. 81 6. 906. 87 7. 222. 17 7. 504. 85
Pdote s to Schedule
(1) Includes $306, 708 exempt property for replacement tax purposes authorized by laws of 1967, Chapter 32, extra session
2) Include s exce s s home stead
(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 in the amount of $460, 981 allocated pursuant to laws 1971, extra
session, Chapter 24, from area-wide "pool".
t -89
r
,Area School District County
Year Voc-Tech #2$6 #279 #281 #11 Special
Collectible Citv School (Earle Brown) (Osseo) (Robbinsdale)(Anoka) Districts (7)
�1) �2) �3) �4)
Tax Rates Mills Per $100 of Assessed Value
195? 44.00 106.60 119.90 108.64 96 .55 31.87
1958 46.47 126.91 119.51 108.64 90.15 38.13
1959 52.05 130.94 146.66 115.18 104.95 39.32
1960 51. 00 167. 56 157. 64 120, 10 114. 70 40. 14
1961 48. 26 189. 64 163. 00 139. 20 123, 53 41. 46
1962 48.54 211.59 179.99 158.69 134.00 45.40
1963 50.12 219.00 184.62 154.72 131.09 47.23
1964 50.68 225.60 189.62 150.08 134.85 52.51
1965 49.80 215.26 195.50 154.72 144.77 59.69
1966 41.62 227.22 199.98 155.00 153.23 55.66
1967 51. 62 227. 90 203. 00 158. 76 160. 00 53, 30
1968 51.34 236.29 211.80 163.56 188.32 64.77
19b9 50.94 .78 266.63 252.28 184.57 265.29 70.00
1970 49. 65 4. 51 294. 55 295, 42 215. O1 297. 66 77. 18
1971 44. 11 96 250, 31 216. 00 204. 90 257. 09 77. 02
1972 43.04 10.38 183.24 166.09 147.20 173.68 80.45
1973 14. 718( 5) 2. 644(5) 55. 786( 5) 54. 023( 5) 44, 727( 5) 54. 920( 5) 27. 014( 5)
1974 15. 710( 5) 3. 084( 5) 56, 805( 5) 54, 634( 5) 50. 289( 5) 54. 845( 5) 28. 965( 5)
1975 17, 988( 5) 3. 372( 5) 61. 074( 5) 57. 654( 5) 50. 787( 5) 60. 190( 5) 33, 142( 5)
Area Tax Levies on Propertv Within Brooklyn Center
Year Voc-Tech
Gollectible School #286 #279 #281 #11
1957 239, 666 76, 912 170, 396 24, 547
1958 303,466 134,960 202,292 24,298
1959 327,629 237,021 228,907 30,387
1960 427,311 465,174 248,382 42,211
1961 497,907 665,299 320,697 43,880
1962 551,349 771,611 367,691 59,153
1963 587,665 830,918 524,099 76,198
1964 622,578 883,842 526,189 100,102
1965 668, 961 976 585 614, 756 140, 923
1966 728,353 1,003,287 623,412 171,926
1967 836,669 1,142,570 790,174 210 ,428
1968 888,684 1,200,483 901,846 295,160
1969 16,096 1,238,004 1,724 773 1,317,751 535,263 t
1970 99 033 1, 375, 490 2, 071, 747 1, 689 434 719, 89b
1971 216,938 1,580,568 1,852,268 1,889 807,230
1972 255, 036 1, 190, 094 1, 436, 342 1, 387, 686 555, 856
1973 240,820 •1,273,089 1,506,993 1,317,268 599,411
1974 298, 106 l, 466, 912 1, 571, 708 1, 535 659 632, 575
1975 296,212 1,652,565 1,742,105 1,552,542 754,898
(1) Formerly #118 (2) Formerly #28 (3) Formerly #24 (4) Formerly #29, #220
(6) Includes tax levy of $33, 429 for the Housing and Redevelopment Authority of
Brooklyn Center (7) Includes Metro Council, Metro Transit Commission,
Mosquito Control District, Park Museum.
-90
Citv of Brooklvn C�enter Schedule II
TAX RATE5 AND TAX LEVIES
Years 1957 Throu�h 1975
Total Gity, 5chool, Countv and State N. H. 5.
State Dist. #286 Dist. #279 Dist. #281 Dist. #11
N.H.S. H.S. (Earle Brown) (Osseo) (Robbinsdale) (Anoka)
9. 15 3, 81 191. 62 214. 92 193. 66 181. 57
12.62 6.01 224.13 216.73 205.86 187.37
�2.42 5.90 234.73 250.45 218.97 208.74
14.32 8.10 273.02 263.10 225.56 220.16
13. 85 6. 84 293, 21 266. 57 242. 77 227. 10
15.51 6.39 321.04 289.44 268.14 243.45
16.85 $.31 333.20 298.82 268.92 245.29
7. 14 8. 22 345. 93 309. 95 270. 41 255. 18
16.14 6.84 340.89 321.13 28Q.35 270.40
18.42 18.32 352.92 325.68 280.70 278.93
17. 24 17. 14 349. g9 324. 99 280. 75 281. 99
352.40 327.91 279.67 304.43
388.35 374.00 306.29 386.23
425. 89 426. 76 346, 35 424. 49
379.40 345.09 333.99 378.22
317.11 299.96 281.07 297.17
100. 162( 5) 98. 399( 5) 389. 103( 5) 96. 652( 5)
104. 564( 5) 102. 393( 5) 98. 048( 5) 99 520( 5)
115. 576( 5) 112. 156( 5) 105. 289( 5) 111. 320( 5)
County
Tota1 Special
School District�(7) Citv State Total Citv, Schools. Countv State
511,521 214,395 207,532 27,859 961,307
665, 016 309, 786 262, 840 48, 723 1, 286, 365
823,954 2�2,434 333,000 54,601 1,463,989
1, 1$3, 078 479, 90? 404, 905 84, 515 2, 152, 405
1, 527, 783 451, 594 452, 289 91, 090 2, 522, 756
1,749,804 440,294 470,746 98,I08 2,758,952
2, 018, 880 528, 874 561, 236 139, 015 3, 248, 005
2, 132, 711 615, 335 593, 890 147, 785 3, 489, 721
2,401,225 779,23p 650,137 153,954 3,984,546
2, 526, 978 744, 231 690, 212 245, 668 4, 207, 089
2 979 841 $28, 401 804, 858 268, 168 4, 881, 268
3,z86,173 1,069,364 847,632 5,203
4, 831, 887 1, 444, 592 1, 051, 250 '7, 327, 729
5, 955, 600 1, 694, 77p 1, 090, 248 8, 740, 618
6,346,973 2,099,064 1,202,152 9,648,189
4, 825, 014 2, 234, 127 1, 195, 237 8, 254, 378
4, 937, 581 2, 460, 486 1, 340, 543 8, 738, 610
5, 504, q60 2, 799, 819 1, 518, 562 9, 823, 341
5, 998, 322 3, 370, 680 1, 805, 754(6) 11 174 756
(5) Due to determination of assessed valuation calculation changed by state law
enacted in 1971, the resulting mill rate is approximately one-third as great
a5 befoxe the enactrnent of the new law,
-91-
Schedule III
C itv of B rooklvn C ente r
NOTES TO TAX RATES AND TAX LEVIES
Years 1957 Throu�h 1975
Tax Limitation by Statute:
City Tax Levy pursuant to limitations of Laws of Minnesota 1973,
Chapter 650, Article IV, Sections 5, 6& i,
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 $10, 00 first half
March 1; second half July 1
Real Estate first half May 31; second half October 31
No discount allowed
Penalties for Delinquency: (Amended, Laws 1974, Chapter 459)
Personal Property 8%
Hornestead Real Estate June 3°jo, July 4°jo, August 5°jo, September 6%,
October 7%, Novembner and December 8%; after first Monday in
January 10%.
Non-Homestead Real Estate June 7%, July 8%, August 9%,
Septembex 10%, Octpber 11%, November and December 12%;
After first Monday �n January 14%,
Tax sale date second Monday in May
Taxes are certified to Hennepin County and collected by the
County Treasurer and remitted to the City.
Tax colZections are distributed in the proportion of the City levy
to all levies.
-92- t
Collections Percentage Collections
of Current of Levy of Prior
Total Year's Taxes Collected Years' Taxes
Year Tax During Fiscal During Fiscal During Fiscal
Collected Levy Pe riod Pe riod Pe riod
1965 643, 014 624, 056 97. 05 8, 186
1966 683,060 674,192 98.70 13,069
1967 799, 792 776, 663 97. 11 7, 710
1968 868, 807 851, 452 98. 00 14, 205
1969 1, 068, 236 1, 036, 863 97. O6 16, 612
1970 1, 112, 080 1, 086, 177 97. 68 20, 620
1971 1, 224, 739 1, 112, 685 90, 85 22, 252
1972 1, 195, 237 1, 163, 912 97. 38 96, 219
1973 1,353,452 1,302,941 96,2? 19,480
1.974 1, 51$, 271 1, 44Z, 873 95. 03 34, 450
Note: The Ci�y's taxes are the anly ones included :in this table.
-93-
Schedule IV
City of Brooklyn Center
TAX LEVIES AND TAX COLLECTIONS
Last Ten Years
Ratio of
Accumulated
R.atio Delinquent
of Total Accumulated Taxes to
Total Collections Delinquent Current Year
Collections to Tax Levv Taxes Tax Levv
t 632, 242 9832:1 28, 985 04508:1
687, 261 1. 0062:1 23, 619 03�58:1
784, 373 9807:1 38, 737 04843:1
865, 657 9964 45, Ol l 05181:1
1, 053, 475 9862 59, 742 05593:1
1, 106, 797 99 52:1 6 5, 02 6 0 5847:1
1, 134, 93'7 9267:1 30, 326 02476:1
1, 260, 131 1. 0543;1 48, 409 04050:1
322, 421 9771: 1 42, 173 03116:1
1, 477, 323 9730:1 89 357 05885:1
1
1
1
_94_
Current S ecial
P
Assessznents Amount Ratio of
Installments Becoming Collected Current
Fiscal Due During Gurrently During Collections to
Period the Fiscal Period �he Fiscal Period Amount Due
1963 460,329 418,657 .9095:1
1964 449,253 383,848 .8544:1
1965 444 393,593 .8845:1
1966 429,759 394,942 .9190:1
1967 490,397 458,324 .9346:1
196$ 505,409 466,466 .9229:1
1969 538,959 476,727 .8845:1
1970 680, 198 605, 3$5 8900: 1
1971 844, 933 660, 490 7817:1
1972 8 07, 317 647, 695 8023:1
1973 787, 054 589, 500 7490:1
1974 742,130 634,434 .8549:1
-95-
C itv of B rpoklyn C ente r Schedule V
SPECIAL ASSES5MENT COLLECTION5
Last Twelve Years
Total Current and Current
Delinquent Pe rcentage Balance
Assessments Uncollected Collected Uncollected
At Year End Through 12 /31 Through 12 /31
73, 472 98. 49 6, 973
119, 525 98. 39 7, 246
136, 775 9g. 17 8, 129
135, 667 104. 22 (1 8, 146)
128, 705 99,75 1, 204
142, �k41 99 72 l, 437
136, 0�43 98.69 7, 049
165, 592 99.37 4, 270
232, 717 97. 83 18, 354
270, 543 97. 19 22, 717
312, 177 94. £39 40, 248
202, 970 85. 49 107, 696
-96-
Penaltie s and
Interest Licenses Fines
Fiscal From and and
Period Property Taxes Permits Forfeitures
1965 6,489 48,757 22,724
1966 8,973 50,489 22.126
1967 12,297 55,005 20,416
1968 7,464 82,098 31,490
1969 6,296 77 ,773 44,031
1970 10,076 49,859 57,970
1971 31, 792 67, 837 53, 638 t
1972 17,471 110,455 37,172
1973 17,914 96 ,006 53 ,862
1974 45, 226 88, 922 38, 644
9�_
Schedule VI
C i�v of B rooklvn Cente r
REVENUES OTHER THAN PROFERTY TAXES
AND SPECIAL ASSESSMENTS
Last Ten Years
Charges for Revenue in Excess
Current of Expenditures
Shared 5ervices and other Public Liquor
Taxe s Re venue Utilitie s Sto re s
$122,588 $159,773 55,024 $106,541
156,536 273,904 109,256 114,227
�32,615 158,536 125,962 125,310
325,221 196,588 131,280 146,551
296, 639 400, 944 161, 925 175, 884
376,359 173,266 331,351 172,761
1 414,936 270,6Q7 276,935 168,406
612,277 285,669 278,089 133,972
669,556 277,512 527,510 123,316
652,343 402,197 435,931 134,995
1
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Schedule VII
City of Brooklyn Center
EXPENDITURES FOR SELECTED FUNCTIONS
Last Ten Years
Public Parks
Fiscal General Sa.fety and and
Period Government Welfare Hi�hwavs Recreation
1965 194,888 258,719 291,306 167,042
1966 218,335 290,232 306,616 310,219
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
197� 279 404 511, *�62 407, 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
1 974 546, 649 700, 438 522, 297 484, 811
-99
Gross
Fiscal E stimated A s se s sed B onded
Period Population Value Debt
1963 28, 203 33, 593, 520 5. 396, 100
1964 29,024 35,155,290 5,607,800
19b5 30, 108 39, 1b3, 863 5. 188, 500
19bb 31,500 40,113,051 5,263,200
196? 31,570 46,775,910 4,784,800
1968 33,000 50,450,682 5,068,400
1969 34,306 62,831,238 7,626,400 t
1970 35,173 66 ,796 ,164 1Q,733,000
1971 36,370 82,680,606 10,005,000
19'�2 36, 908 83, 311, 137 9, 291, 000
1973 37,102 91,081,877 9,224,000
1974 36, 954 96, 662, 138 8, 407, 000
r o 7 so as to be
��Assessed value has been restated for years prio t 19 4
on a basis comparable to 1974.
-1p0-
Schedule VIII
City of Brooklyn Center
RATIO OF NET BONDED DEBT TO ASSESSED VALUE
A.ND NE'�' BONDED DEBT PER CAPITA
Last Twelve Years
Less: Amount Ratio of Net Bonded Debt to Net Bonded
in Debt Net Bonded Assessed Debt Per
Service Funds Debt Values Capita
920, 472 4, 475, 628 1332:1 158. 69
t 1, 031, 779 4, 576, p21 1302: 157. 66
1, 591 659 3, 596, 841 0918:1 119. 46
1, 499, 096 3, 764, 104 0938:1 119. 49
1, 773, 834 3, 010, 966 0644:1 95. 37
1, 986, 325 3, 082, 075 0611:1 93.40
1, 534, 261 6, 092, 139 0970:1 177. 58
1, 805, 385 8, 927, 615 1337: i 253. 82
1, 793, 277 8, 211, 723 0993 225. 78
1, 774, 258 7, 516, 742 0902:1 203. 66
118, 269 7, 105, 731 Q780:1 191, 52
874, 002 6, 532, 998 0675:1 176. 79
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Schedule IX
Citv of Brooklvn Center
STATEMENT OF LEGAL DEBT MARGIN
December 31, 1974
Assessed value $100, 386. 566
Debt limit 6. 67% of assessed value (See Note A) 6, 695, 784
Total bonded debt $8, 407, 000
Deductions (See Note B):
1. Debt Se rvice F und s
(General Obligation) 142, 015
2. Special Assessment
Bonds 4, 512, 000
3, State Aid Street Bonds 955, 000
4o Utility Revenue Bonds 725.000 6. 334. 015
Total Debt Applicable to Debt Limit 072. 985 t
Le�al Debt Mar�in. December 31, 1974 4, 622. 799
'��Includes $460, 981 credited from "Fiscal Disparity" areawide tax base,
N�te: (A) M. 5. A� Section 475, 53 see following page)
Note: (B) M, S. A. Section 475, 51 see following page)
-102-
Schedule IX
Citv of Brooklvn Center (Cont'd)
STATEMENT OF LEGAL DEBT MARGIN
December 31, 1974
Note A):
M, S. A. Section 475. 53 et seq, Limit on Net Debt
"5ubdivision 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 B):
M. S. A, Section 475. 51 Definitions.
"Subdivision 4, 'Net Debt' means the amount remaining after
deducting from its gross debt the amount of current revenues
which are applicable within the current fiscal year to the pay-
me,�t of any d�bt, 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 reimbursement in whole
or in part from the proceeds of the speci.al ass�ssments.
(2) Warrant5 or or�lers having no definite or fixed maturity.
3) Obligations payable wholly from the income from revenue-
producing conveniences.
(�k) Obligations issued to create or maintain a permanent
improvement revolving fund,
t (5) Obligations issued for the acquisition, and betterment of
public water-works systems, and public lighting, heating or
power systems, and of any combination thereof or for any other
public convenience from which a revenue is or may be derived,
(6) Amount of all money and the face value of all securities
held as a sinking fund for the extinguishment of obligations other
than those deductible under this subdivision.
(7) All other obli,gations which under the provisions of the law
authorizing their issuance are not to be included in computing the
net debt of the municipality.
-103-
Gross
Governmental Unit Debt
Direct and Overlat�pin� Debt
Direct Debt:
City of Brooklyn Center 8. 407, 000
Ove rlapping Debt:
School Districts:
No. 281 (Robbinsdale) 33, 553, 000
No, 11 {Anoka) 46 130 000
No. 279 (Osseo) 25, 309, 085
No. 286 (Brooklyn Center) 2, 310, 000
Area Voc. Tech, School:
No, 287 23, 400, 000
Metro Transit 14, 300, 000
Metro Council 190, 321, 000
Hennepin County:
Park District 11, 225, 000
Buildings 16, 050, 000
Libraries 8, 825, 000
General Hospital 23, 625, 000
Total Overlappin� Debt $395, 048, 085
Total Direct and Overlappin� Debt $403 4 0
55, 85
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Schedule X
C itv of B rooklvn Ce nte r
COMPUTATION OF DIRECT AND OVERLAPPING DEBT
December 31. 1974
Citv of Brooklvn Center
Sinkir�g Net Sha re
Funds Debt Per Cent Amount
1. 874. 007 6. 532, 993 (1) 100. 00% 6. 532. 993
4, 458, 378 29, 094, 622 10. 20% 2, 967, 651
2, 764, 798 43, 365, 202 5, 90 2, 558, 547
3, 491, 340 21, 817, 745 26, 80 5, 847, 156
167,418 2,142,582 100.00 2,142,582
2, 651, 330 20, 748, 670 4, 90 1, 016, 685
2, 566, 707 11, 733, 293 1, 50 175, 999
-0- 190, 321, 000 1. 50 2, 854, 815
1, 007, 073 10, 217, 927 2. 70 275, 884
260, 824 15, 789, 176 2, 70 426, 308
809, 807 8, 015, 193 4, 80 384, 729
2. 425. 128 21. 199, 872 2. 70 572. 397
$20.602.803 $374.445.282 $19.222.753
$22.476.810 $380.978.275 $25.755 7 6
4
1
(1) Includes $2, 861, 189 net debt outstanding to be paid from special
assessments, $955, 000 clebt outstanding on State Aid Street Bonds,
and $593, 316 net debt outstanding on revenue bonds.
Direct Overlapping
Comnarative Net Debt Ratios Chargable to Citv Total Debt Debt
Debt to assessed value ($100, 386, 566) 25. 66% 6, 51% 19. 15%
t Debt to market value ($277, 334, 126) 9. 29% 2. 36% 6. 93%
Per capita debt (Population 36, 954) $696. 97 $176. 79 $520. 18
-1G�-
Year Princi al Interest
P
1965 33,300 14,977
196�6 50, 800 24, 213
1967 59,400 22,280
1968 51,000 19,604
1969 51, 000 37, 608
1970 49, 600 164, 778
1971 68, 800 228, 351
197� 90,000 223,927
1973 i65,000 219,101
1974 180,000 209,397
-106
Schedule XI
City of Brooklyn Center
RATIO OF ANNUAL DEBT SERVICE EXPENDITURES FOR GENERAL
BONDED DEBT TU TOTAL GENERAL EXPENDITURE5
Last Ten Years
Total Total Ratio of Debt
Debt General Service to General
�ervice Expenditures Expenditures
48, 277 942, 720 5. 12
75, 013 1, 335, 428 5. 62
81, 680 1, 185, 075 6. 89
70,604 1,369,842 5.15
88, 608 1, 591, 987 5. 57
214, 378 1, 679, 129 12. 77
297, 151 2, 210, 671 13. 44
313,927 2,219,355 14,14
384, 101 2, 295, 308 16, 73
389, 397 2, 677 994 14. 54
1
Net Gross 1) Revenue
Year Revenue Expenses Available
1965 586, 979 291, 643 295, 336
1966 753 269 ,371 484,458
1967 669, 098 282, 528 386, 570
1968 743,316 292,818 450,498
1969 854,367 360 ,249 494 ,118
1970 1,060,322 4Q0,824 659,498
1971 1,140,730 558 18 582 4
9 ,5 1
1972 863, 111 4�47, 567 321, 106
1973 1,053,238 383,000 700,238
1974 1,048,447 471,046 577,401
(1) Excludes depreciation and int�;rest on bonds.
-10�- I
1
Schedule XII
City of Brooklyn Center
t SCHEDULE OF REVENUE BO1�,TD COVERAGE
Last Ten Years
Ratio of Net
Debt 5ervice Revenue to
Principal Interest Total Debt Service
38, 000 42, 796 80, 796 3. 7 to 1
38 000 41 305 79 305 6. 1 to 1
38, 000 39, 816 77, 816 5. 0 to 1
38, 000 38, 350 76, 350 5. 9 to 1
40. 000 36, 775 76, 775 6. 4 to 1
45, 000 35, 200 80, 200 8. 2 to 1
45, 000 34, 300 79, 300 7. 3 to 1
30, 000 31, 767 61, 767 5. 2 to 1
30, 000 30, 525 60, 525 11. 6 to 1
30, 000 29, 400 59, 400 9. 7 to 1
t
-109-
Schedule XIII
Citv of Brooklvn Cen�er
�5CELLANEOU5 STATI5TICAL FACT5
Decembe r 31. 1974
Date of Incorporation February 14, 1911
Date of Ado tion of City Charter November 8, 1966
P
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
5tate 12
County 6
Miles of Storm Sewers 37
Number of Street Lights 845
Building Permits:
Number of Permits Issued:
1974 423
1973 390
1972 708
1971 425
1970 404
1969 460
1968 544
1967 493
1966 430
1950 1965 inclusive 9, 917
�stimated Cost:
1974 b,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
1966 7,261,065
1950 1965 inclusive $106, 408, 480
Fire Protection:
Numbe r of 5tations 2
Number of Volunteer Firemen 40
Police Protection:
Numbe r of Stations 1
Number of Employees 37
Vehicle Patrol Units 9
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Schedule XIII
C ont' d
City of Brooklyn Center
MISCELLANEOUS STATISTICAL FACTS
December 31, 1974
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 employe e s 14
Part-time employees 350 (seasonal)
Supe rvi sed playg round s 17
Park shelters 17
Ice skating rinks 17
t Hockey rinks 6
Softball diamond s 6
Baseball diamonds 5
Wading pools 2
Tennis courts 10
B�.sketball 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 33 2 26 17
School buildings under
construction 1
School buildings within
Brooklyn Center 1 2 1 3
Total students
registered 34, 000 2, 012 24, 578 13, 900
Students from Brooklyn
Center registered 1, 62� 2,012 1, 100 4, 352
Tqtal square miles in
School District 172 2. 8 30 66. 5
Square miles within
Brooklyn Center 1. 5 2. 8 2.25 2. 5
1974 assessed
valuation 249, 796, 75Q 31, 137, 413 335,'S71 699 157, 293, 291
1974 assessed
valuation in
Brooklyn Center 11, 8�9, 230 26, 323, 798 30, �50, 210 28, 769, 355
Parochial Schools (1)
St. Alphonsus School (grades 4-8) Total students registered 257
-111�
5chedule XIII
Cont'd
Citv af Brooklvn Center
MI5CELLANEOU5 5TATISTICAL FACTS
December 31. 1974
Municipal Water Plartt:
Number o£ connections 7, 022
Average daily consumption 3, 101, 720 gallons
Peak daily consumption 10, 408, 000 gallons
Plant capacity daily 12, 384, 000 gallons
Mile s of wate r mains 106
Number of fire hydrants 759
Number of wells 7
Number of elevated reservoirs 3
Storage capacity 3, 000, 000 gallons
Wate r rate pe r thousand gallons 35
Munici al Sewer Plant:
P
Number of connections 7, 921
Miles of sani�ary sewer 97
Daily disposal capacity 7, 416, 000 gallons
Numbe r of lift stations 9
Residential rate 8.75 per quarter
Municipal Liquor Stores (Off Sale)
Numbe r of owned sto re s 1
Number of leased stores 2
1974 sales $1, 756, 429. 87
City Employees:
As of December 31, 1974
Permanent or regular 108
Temporary of part-time 130
Total �?38
E le ctions:
General election 1972 19, 142
Number of votes cast in general election 14, 807
Percentage of registered voters voting 77.4%0
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 4,2g4
1960 24,356
1965 special census) 30, 108
1970 35,173
1975 36,954
Estimated residential saturation point 49, 000
1
-112-