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HomeMy WebLinkAboutAnnual Audited Financial Report-1973 i ANNUAL AUDITED FINANCIAL REP�RT 1 of the CITY MANAGER of BROOKLYN CENTER, MINNESOTA For The Year Ended December 31, 1973 DONALD G. PO55, CITY MANAGER Prepared by THE DEPARTMENT OF FINANCE Paul W. Holmlund, Director Member of Munici al Finance OfFicers I P Association of the Un�ted States and Canada� Citv of Br�oklvn Center ANNUAL FINANCIAL REPORT For the Year Ended December 31, •1973 TABLE OF CONTENTS Exhibit Page Numbe r Numbe r Certificate of Conformance 1, 2 Listing of City Officials 3, 4 Organization Chart 5 Location of City Properties 6 Lette r of T ran smittal 7 General Comxnents 8, 9, 10, 11, 12, 13 Financial Statements Section Audito r's Repo rt 14 Combined Balance Sheet All Funds and Account Groups (Condensed Form) December 31, 1973 1 15, 16 General Fund Statements Balance Sheet (Comparative) December 31, 1973 and 1972 2 17 Statement of Changes in Fund Balance (Comparative) Year Ended December 31, 1973 and 1972 3 18 Statement of Revenues, Expenditures, Encumbrances and Transfers Years Ended December 31, 1973 and 1972 4 19 Statement of Revenue Budget and Actual Objective Classification Year 1973 5ched. 4-A 20, 21 Statement of Expe�nditures and Encumbrances Budget and Actual Classified as to Activity Character and Object Year 1973 Sched. 4-B 22, 23, 24, 25 �y v of B rookl�n Cente r ANNUAL FINANCIAL REPQRT For the Year Ended December 31. 1973 TABLE OF CONTENTS Exhibit Page iVumbe r Numbe r t Special Revenue Funds Statements C b' e Bala ce Shee Com ara ive om in d n t( p t December 31, 1973 and 1972 5 26, 27 Combined Analysis of Changes in Fund Balance Years 1973 and 1972 6 28 29 Combined Statement of Revenue and Expenditure s Years 1973 and 1972 7 30, 31 Capital Proiects Funds Statements Combined Balance Sheet (Comparative) December 31, 1973 and 1972 8 32, 33 Combined 5tatement of Appropriations Expenditure s and Fund Balance s Years 1973 and 1972 9 34, 35 Debt Service Funds Statements Combined Balance Sheet (Comparative) December 31, 1973 and 1972 10 36, 37 Combined Statement of Revenue, Expenditures and Fund Balances Years 1973 and 1972 11 38, 39 5 ecial Assesament Funds Statements Combined Balance Sheet (Comparative) December 31, 1973 and 1972 12 40, 41 Combined Statement of Revenue, Expenditures and Unappropriated Surplus for Debt Retirement (Comparative) Years 1973 and 1972 13 42, 43 t Citv of Brooklvn Center ANNUAL FINANCIAL REPORT For the Year Ended December 31, 1973 TABLE OF CONTENTS Exhibit Page Numbe r Numbe r Snecial Assessment Funds Statements. Cont'd Construction Expenditures Compared to Appropriations and Assessment of Costs Year 1973 14 44, 45, 46 Statement of Lon,g-Term Debt (Principal Amount Outstanding) December 31, 1973 15 47, 48 Public Service and Enterprise Funds Statements Municipal Liquor Fund Balance 5heet (Comparative) December 31, 1973 and 19.72 16 49, 50 Analysis of Changes in 5urplus (Comparative) Year 1973 and 1972 17 51 Statement of Changes in Financial Position (Comparative) Years 1973 and 1972 18 52 Statement of Income and Expense (Comparative) Years 1973 and 1972 19 53� 54 Public Utilities Fund Balance Sheet (Comparative) December 31, 1973 and 1972 20 55, 56 Statement of Changes in Financial Position (Comparative) Years 1973 and 1972 21 57 Statement of Operations and Retained Earnings (Compaxative) Years 1973 and 1972 22 58 Water Department Operating Expenses (Comparative) Years 1973 and 1972 23 59, 60 Sewer Department Operating Expenses (Comparative) Years 1973 and 1972 24 61, 62 Citv of B rooklvn Cente r ANNUAL FINANCIAL REPORT For the Year Ended December 31, 1973 TABLE OF CONTENT5 Exhibit Page Numbe r Numbe r Public Service and Enterprise Funds Statements, Cont'd Public Utilities Fund Cont'd 5ummary Statement of Plant and Property and Allowance for Depreciation December 31, 1973 25 b3, 64 5taternent of Long-Term Debt (Revenue Bonds and Interest Coupons Outstanding) December 31, 1973 26 65, 66 Trust and A�encv Funds Statements Combined Balance Sheet (Comparative) December 31, 1973 and 1972 27 67, 68 Combined Statement of Revenue, Expenditures and Fund Balances (Comparative) Years 1973 and 1972 28 69 70 Investment Trust Fund Statements Balance Sheet (Comparative) December 31, 1973 and 1972 29 71, 72 5tatement of Earnings (Comparative) Years 1973 and 1972 30 73 Change s in Participating Fund Balances Year 1973 31 74 General Fixed Assets and General Lon�-Term Debt Summary Statement of General Fixed Assets December 31, 1973 32 75, 76 Summary Statement of General Long-Term Debt and Interest (Cornparative) December 31, 1973 and 1972 33 77 City of Brooklyn Center ANNUAL FINANCIAL REPORT For the Year Ended December 31, 1973 TABLE OF CONTENTS Exhibit Page Numbe r Numbe r General Fixed Assets and General Lon�-Term Debt,Cont'd 5chedule of General Long-Term Debt and Interest by Maturities December 31, 1973 34 78, 79 Notes to Financial Statements Note 1 All Funds gp Note 2 All Funds gp Note 3 Stiecial As se s sment Funds g 1 Note 4 Municipal Liquor Fund gl Note 5 Public Utilities Fund g�� 83 Note 6 Public Utilities Fund 83 84 Note 7 Public Utilities Fund 84, 85 Note 8 Summary Statement of General Lon�-Term Debt and Inte re st gb Note 9 Lib ra ry Sale s Fund g 6 Citv of Brooklyn Center ANNUAL FINANCIAL REPORT For the Year Ended December 31, 1973 TABLE OF C�NTENTS Pa ge t Schedule Numbe r Statistical Information Section Assessed Value and Estimated True Value and 1.Vlarket Value af All Taxable Propexty by Budget Years i 87, 88 Tax Rate s and Tax Levie s Years 1953 Through 1974 II 89, 90 Notes to Tax Rates and Tax Levies Years 19 5� Through 1974 III 91 Tax Levies and Tax Collections i Last Ten Years IV 92, 93 Special Assessments Gollections Last Twelve Years V 94, 95 Revenues Other Than Property Taxes and Special Assessments Last Ten Years VI 96: 97 Expenditures for Selected Functions Last Ten Years VII 98 Ratio of Net Bonded Debt to Assessed Value and Net Bonded Debt Per Capita Last Twelve'�ears VIII 99, 100 Statement of Legal Debt Margin, December 31, 1973 IX 141 Computatian of Direct and Overlapping Debt December 31, 1973 X 102, 103 Ra�io of Annual Debt Service Expenditures for General Bonded Debt to Total General Expenditures Last Ten Years XI 104, 105 Schedule of Revenue Bond Coverage Last Ten Yeaxs XII 106, 107 Miscellaneous Statistical Facts December 31, 1973 XITI 108, 109, 110 THE MUNICIPAL FINANCE OFFICERS ASSOCIATION OF THE UNITED STATES AND CANADA dtrti#[tg t�jat THE ANNUAL FINANCIAL REPORT OF �1��e Cit of Bro okl n Cen ter, Minn esot�a v y �or the Year �nded De�ember31 SUBSTANTIALLY CONFORMS 'TO THE PRINCIPLES AND STANDARDS OF PUBLIC FINANCIAL REPORTING AS PROMULGATED BY THE �unicipai �inatuc �fficcr�c �ggociation ,lND TXE ,�ateonaY �Committ�c on iobcrrimcntai S�uounting P�ced September �9 ty67. C�drww, Caw+winer ow Acc..+M+�� ds�r�a�r Dirrr�w ri■ r w� r�■ CITY OF BROOKLYN CENTER, MINNESOTA CERTIFICATE OF CONFORMANCE (Jn 5eptember 19, 1967, the MUNICIPAL FINANCE OFFICERS ASSOCIATION 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 i" 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, 1973 continues to conform substantially to such standards. DEPARTMENT OF FINANCE CITY OF BROOKLYN CENTER Citv of B rooklvn C ente r LTSTING OF CITY OFFICIALS For the Year Ended December 31. 1973 Elected Officials Term of Office Term Expires Mayor Philip Cohen Two Years 12-31-73 Councilman John Leary Three Years 12-31-73 Councilman Maurice Britts Three Years 12-31-74 Councilman Bill Fignar Three Years 12-31-75 Councilman Tony Kuefler Three Years 12-31-75 Officials Not Elected City Manager ponald G. Poss City Cle rk Allen S, Lindman City Treasurer Paul W, Holmlund City Attorney Richard Schieffer Administrative Assistant Daniel Hartm�.n Administrative Assistant James Lacina Department Heads: Finance Paul W. Holmlund Public Works James Merila Police Thomas G. O'Hehir Fire Donald Mason Planning and Inspection A. Blair Tremexe Parks and Recreation Eugene Hagel Assessment John Nordberg Liquor Stores Truman Nelson 5treet and Park Superintendent Henry Davis Public Utilities Superintendent Frank 5xnith, Jr. Recreation Superintendent Arnold Mavis Health Officer R. I. Shragg, M.D. F'ire Marshall Donald Mason Sanitarian John Urbach -3- Citv of Brooklvn Center LISTING OF CITY OFFICIALS At June 30. 1974 Elected Officials Te rm of Office Term Expi re s Mayor Philip Cohen Two Years 12-31-75 Councilman Maruice Britts Three Years 12-31-74 Councilman Tony Kuefler Three Years 12-31-75 1 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 1 City Treasurer Paul W, Holmlund City Attorney Richard Schieffer Administrative Assistant Daniel Hartman Administrative Assistant James Lacina 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 Liquo r Sto re s T ruman Nelson Street and Park Superintendent Henry Davis Public Utilities Superintendent Frank Smith, Jr, Recreation Superintendent Arnold Mavis Health Officer R. I. Shragg, M.D, Fire Marshall Donald Mason 1 Sanitarian John Urbach Civil Defense Coordinator James Lindsay I 1 -4- ORGANI ZATI ON CHART COUNCIL MANAGER PLAN City of Brooklyn Center, Minnesota ADVISORY ELECTORATE CHARTE R COMMISSION Capital Improvement Review Bd. ADVISORY Youth Advisory Commission ADVISORY CITY COUNCIL Housing Commission ADVISORY CITY ATTORNEY Conservation Commission �i ADVISORY City Manager Administrative Assistant Human Rights Commission City Clerk v� Purchasing Officer ADVISORY Parks and Recreation Commission ADVISORY Administrative Assistants Planning Commission Civil Defense 1 I I� 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. 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L E. 4� 4�f 1 i OF 6301 SMINGLE CREEK PARKWAY u 4 ROOIILYN BROOKI.YN CENTER, MINNESOTA 55430, TELEPHONE (612) 561-5440 C E N T E R I d �t'? k� "+�'u.�`� June 30, 1974 To the Mayor and Council City of Brooklyn Center, Minnesota Gentlemen: Section 7.12 of the City Charter requires the City Manager to submit an audited report to the Council covering the entire financial operations of the City for the past year on or before the last day of June. A summary of that report shall be published in the official city newspaper on or before July 31 of each year. The annual audited financial report of the City for the year ended December 31, 1973, prepared by the Department of Finance under my general supervision, is submitted for your consideration. The summary of the report will be published in the Brooklyn Center Post on July 25, 1974. Respectfully submitte�, i �,,'<r-,,,<<,,,�;,�.,:�'. -y-•.- 1 Donald G. Poss City Manager -7- "��ie .�asrccet�iust� �aze C ity of B rooklyn C ente r I 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 the adoption of the City Charter by a referendum'vote of the people. The form of government established by the Charter is the "Council- Manager Plan". The Council exercises the legislative power of the City and� determines all matters of policy. The Council is composed of a Mayor and four 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 �'reasurer are subordinate to and appointed by the City Manager. The City Clerk has duties in connection with the keeping of the public records, The City Treasurer has duties in connection with the receipt, disbursement and custody of public funds. The City Attorney is appointed by the Council. All other officers and r 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 Financial Control and the Bud�et The City Charter grants the City Council full authority over the financial affairs of the City. The Charter requires that all funds of the City except funds made up of proceeds of bond issues, public service enterprise funds, and special 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 bud et as g specified in the budget resolution. Upon adoption of the annual budget resolution by the Council it becomes the formal budget for City operations. After the bud et resolution is ado ted the Council can increase the bu g p dget only if actual receipts exceed the estimates or from accumulated surplus in the amount of an unexpended appropriation from the previous fiscal year. Financial reports, which compare actual performance with the budget are prepared monthly and presented to the Council so the Council is able to review the financial status and measure the effectiveness of the budgetary controls. Governmental budget procedures are not used in connection with the liquor stores or public utilities operations., because these operations are primarily 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 1973 follows: -9- Citv of B rooklyn C ente r GENERAL COMMENTS Financial Control. Cont'd Proposed Exnenditures (Public Service Enterprises Excluded) City operations (General Fund) $2, 209, 289 Debt Redemption Fund 311, 200 Public Employees' Retirement Fund 73, 000 Policemen's Pension Fund 61, 500 Poor Relief Fund 20, 000 Firemen's Relief Association 25, 638 Total Proposed Expenditures 2 700, 627 Proposed 5ource of Financin� '�axation (see summary of taxation presented below) $1, 353, 452 Shared taxes (State and Federal) 652, 734 Tax penalties 20, 000 Local revenues: Gene ral gove rnment se rivice s $243 506 Permits and licenses 86, 500 Court fines 45, 000 Rent 7, 000 Refunds and reimbursements 18, 595 Interest 20, 000 Transfers-in: Liquor Fund $160,000 Library Sale Fund 15, 300 175, 300 Appropriation of surplus 77. 540 673, 441 Othe r income 1, 000 Total Proposed Financin� ,�2,� 700, 627 -10- City of Brooklvn Center GENERAL COMMENTS Financial Control. Cont'd Ad valorem tax levies for the current yeax 1973 and for the two previous years 1972 and 1971) are surnrnarized and presented below: 1973 1972 1971 Mill Rate Amount Mill Rate Amount Mill Rate Amount Tax Levv City operations 9, 540 877, 414 9. 313 775, 848 9. 872 821, 662 Debt Redemption Funds 3. 218 295, 900 2. 647 220, 400 2. 501 208, 174 Public Employees' Retirement Fund 794 73, 000 843 70, 000 860 71, 500 Policemen's Pension Fund 669 71, 500 708 58, 923 810 67, 600 Poor Relief Funci 218 2fJ, 000 447 37, 000 163 13, 500 Firemen's Relief Association 279 25, 638 386 32. 038 500 41, 596 Total Levv 14. 718 �1, 353, 452 14. 344 194, 209 14. 706 $1, 224, 032 1973 1972 1971 Assessed Valuation Real estate $88, 678, 134 $79, 355, 000 $77, 900, 245 Non-exempt personal property 2, 403, 743 1, 313, 422 1, 281, 552 Exempt personal property m 306, 708 Total Assessed Valuation 91. 081, $77 $80. 668, 422 $79, 488, 505 The omnibus tax law of 1971 eliminated the replacement tax based on exempted personal property. For this reason exempted personal property is not shown for 1973 or 1972 in the above summary of assessed valuation. The financial condition of each fund as of Decembe r 31, 1973 and the re su lts of each fund's operations for the year, togeth�er with a comparison of these results -11- City of B rooklyn C ente r GENERAL COMMENTS Financial Control, Cont'd to budget estixnates 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 De ut Assessor Li uor Store Mana er and P Y q g Assistant Manager. In addition, the City is covexed by an Honesty Blanket Position Bond on all other City employees. Gene ral Ope rations The City, in addition to the usual activities such as: genexal government, public safety and welfare, highways, recreation and parks; operates three off-sale liquor stores and public sewer and water utilities. Net revenues produced in excess of working capital requirements by 1 municipal liquor store operations have been used towards financing current expense and capital outlay programs of the City General Fund. The net revenues of the sewer and water utilities have b�en retained within the Public Utilities Fund and employed for sewer and water utility purposes. Accountin� System The accounting for all activities of the City is divided into various purpose groups or funds as required by statute and/or good accounting practice. Except for minor variances, all funds are znaintained 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- City of Brooklyn Center GENERAL COMMENTS Accountin S stem Cont'd Y 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 financial records, establishing and maintaining internal control, and preparing financial and budgetary reports is delegated to this department. -13- �'INA NCIA L 1 STATEMENTS S E C T I O N MOEN AND PENTTILA CERTIFIED �UBLIC AGCOUNTANTS SUITE 20� VALLEY SOUTH BUILDING MEMBER OF 8�¢O WAYZATA SOULEVARD 6121 546-3306 AMERICAN INSTITUTE OF ACCOUNTANTS MINNEAPOI-IS. MINNESOTA'35426 Honorable City Council City of B rooklyn Cente r 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, 1973 as listed in the forego.ing table of contents. Our examination was made in accordance with generally accepted auditing standards, and accordingly, included such tests of the accounting ,�ecords and such other auditing procedures as we considered necessary in the circumstances. In our opin:ion, such financial statements and related supplementary schedules present fa:irly the financial position of the various funds and account groups of the City of Brooklyn Center at December 32, 1973, 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 s itted, Oiva Penttila Certified Public Accountant MOEN PENTTILA Field work completed June 26, 1974. Report signed June 28, 1974. -14- Combined Total (Note 2) Assets and Resources Cash on hand and in depositories 98, 030 Temporary investments 6, 412, 057 Accounts receivable 98, 719 Taxes receivable 92, 684 Due from other funds 1, 134 995 Due from other governmental units 150, 458 Inventories and supplies 189, 627 Work orders/construction in progress 674, 777 Accrued revenue 227,905 Receivable appropriated funds 295, 754 Monies on deposit State of Minnesota 102, 408 Special assessment receivables 4, 810, 200 Securities held for investments 6, 884, 721 Prepaid expenses and deferred charges 87, 352 Fixed assets (net of depreciation where applicable) 23, 835, 237 Unassessed construction 528, 192 Amount available gene ral debt and inte re st 150, 197 Amount to be provided general debt and interest 5, 346, 546 Uncollected dedicated funds 89, 000 Totals $51, 208, 859 Liabilitie s Vouchers and accounts payable 220, 932 Accrued sales tax 7, 228 Accrued expenses 80, 539 Contracts payable 169, 254 Assessments payable 280, 183 Due to other funds 1, 134 995 Temporary construction loans and advances 979 �97 Bonds payable 9, 224, 000 Customer and contractor deposits 292 939 Due funds participating in Investment Trust Fund 6, 412, 057 Interest payable in future years general debt) 1, 866, 560 Total Liabilitie s 20. 667. 784 Surplus, Reserves and Fund Balances Surplus and revenues set aside 3, 068, 790 Contributed surplus 9, 538, 172 Investment in general fixed assets 14, 122 696 Unexpended appropriations, authorizations and balances 3, 811, 417 Total Surplus, Reserves and Fund Balances $30,541,075 Totals 51, 208, 859 (See notes to financial statements) This statement is an integral part of report dated June 26, 1974 -15- Citv of Brooklvn Center Exhibit 1 COMBINED BALANCE SHEET ALL FUNDS AND ACCOUNT GROLJPS (CONDENSED FORM) Decembe r 31 1973 5pecial Capital Debt Special Municipal Public Investment General General General Revenue Projects Service Assessments Liquor Utilities Agency Trust Fixed Assets Debt and Fund Funds Funds Funds Funds Fund Fund Funds Fund Group Interest (Exhibit 21 (Exhibit 5) (Exhibit 8) (Exhibit 10) (Exhibit 12) (Exhibit 16) (Exhibit 20) (Exhibit 27) (Exhibit 291 (Exhibit 32) (Exhibit 33) 30,477 665 3,334) 274 4,662 45,581 13,819 122 5,764 153, 190 443, 809 1, 368, 562 100, 579 2, 115, 855 1, 542 2, 177, 480 51, 040 5,724 13,985 1,363 77,647 59,410 1,494 1,793 18,180 11,80? 292,753 195 210 31,164 592,674 12 213,321 4,666 12, 569 87, 525 6, 997 43, 367 15, 547 165, 885 8, 195 464 674,313 73,435 9,006 145,464 295, 754 102, 408 4,670,368 139,832 85, 000 491, 820 b, 307, 901 36,362 337 50,653 80,099 9,632 $14 ,122,696 428, 192 150,197 5, 346, 546 89,000 t $570,134 $446,163 $1,646,164 $150,197 $7.969,095 $294,819 $13,485,258 $568,461 $6,459,129 $14.122,696 $5,496,743 86,033 1,356 52 2,939 78 ,960 39,149 12,443 7, 228 21, 784 52, 030 3, 484 3, 241 77,919 70 ,575 3,292 301 17,167 2go, is3 9, 022 34, 750 305, 296 473, 717 205, 367 lOb, 843 t 979,097 5, i 19, 000 755, 000 3, 350, 000 2b3, 034 29, 905 6,412,057 1. 8b6. 560 $116,839 3b.106 383.267 -0- $6,697.358 $298.331 1,167,568 12,443 $6,459.129 -0- $5.496.743 20,851 261,820 94,278 2,691,841 9,538,172 $14,122,696 432,444 $410,057 1,001,077 $150,197 1,177,459 3,5121 87,677 $556.018 $453,295 $410,057 $1,262,897 $150,197 $1,271,737 3,512) $12,317,690 $556,018 -0- $14.122 -0- $570, 134 $446, 163 $1, 646, lb4 $150, 197 $7, 969, 095 $294, 819 $13, 485, 2 $56 461 $6, 459. 129 $14. 122, 696 $5, 496, 743 -16- Citv of Brooklvn Cente r Exhibit 2 Gene ral Fund BALANCE SHEET (COMPARATIVE) December 31, 1973 and 1972 Current Prior 1 Year Year ASSET5 1973 1972 1 Assets Cash on hand and in depositories 30, 477 45, 953 Temporary investments 153, 190 63,'414 Accounts receivable 5, 724 7, 677 Taxes receivable 59, 410 53, 956 Due from other funds 292, 753 200, 209 Due from other governmental units 12 569 4, 733 Inventory of supplies 15, 547 12, 794 Work orders in progress to be billed 464 8, 298 1 Total $570, 134 $397. 034 LIABILITIE5, RE5ERVES AND FUND BALANCE Liabilitie s Vouchers payable 84, 724 64, 254 Payroll taxes and employee withholdings 21, ?84 16, 820 Due to other funds 9, 022 14, 129 Due to other governmental units 1.309 Total Liabil�ties $116. 839 95, 203 Reserves Reserve for encumbrances 4, 772 8, 086 Reserve for inventories, petty cash and changefunds 16,079 13,324 Total Reserves 20,851 21,410 Fund Balance Appropriated 33, 497 Available for appropriation $432, 444 246, 924 Total Fund Balance (Exhibit 3) $432, 444 $280. 421 Total $570 $357, 034 (See notes to financial statements) This statement is an integral part of report dated June 26, 1974 -17- Exhibit 3 Citv of Brooklyn Genter Gene ral F'und 5TATEMENT OF GHANGES TN FUND BALANCE (COMPARATIVE) Years 1973 and 1972 Currer�t Y�ar Prior Year 1973 1972 Fund Balance Januarv 1 28Q, 4�1 289, 904 Add: Revenue (Exhibit 4) 2, 010, 252 1, 840, 308 Transfers in (Exhibit 4) 221. 331 182, 398 Total Additions �,2, 231 583 �2 022, 706 Deduct: Expenditures and encumbrances (Exhibit 4) $2, 076, BQ5 $2, 026, 690 Transfers ou� (Exhibit 4) 2, 4].1 Increase in reserve for �nv�ntory and change funds 2,755 2,588 Tota1 Deductions $2. 079, 560 �2. 032. 189 Fund Balance December 31 (Exhibit 2) 432, 444 280, 421 (See notes to financial statement�) This statement is an integral paxt of report dated June 26, 1974 .,1$- Exhibit 4 Citv of Brooklvn Center General Fund STATEMENT OF REVENUES, APPROPRIATIONS FROM FUND BALANCE, EXPENDITURE5, ENCUMBRANCES AND TRANSFERS 1 Years 1973 and 1972 Actual 1973 1973 OverCUnder� Actual Prior Bud�et Actual Bud�et Year Revenues (Schedule 4-A) Ad Valorem taxes 897, 414 895, 402 2, 012) 793, 375 Shared taxes 652, 734 669, 556 16, 822 612, 277 Charges for services 213, 206 203, 519 9, b87) 201, 026 Inter-fund charges 44, 300 51, 778 7, 478 54, 957 Licenses and permits 86, 500 96 006 9, 506 110� 455 Court fines 45, 000 53, 862 8, $62 37, 172 Other income 42, 343 40, 129 2, 214) 31, 046 Total Revenues $1, 981, 497 $2, 010, 252 28, 755 $1,840,308 Transfers from other funds 224, 543 221, 331 3, 212) 182, 398 Appropriations from fund balance 33, 497 33, 497 81, 407 Total $2. 239. 537 $2, 265, 080 25. 543 $2. 104. 113 Expenditure s and Encumbrance s (See Schedule 4-B) General government 575, 890 494 968 80, 922) 496, 377 Public safety and welfare 612, 761 587, 443 25, 318) 561, 100 Highways, streets and walks 539, 170 500, 840 38, 330) 463, 321 Health 29, 459 26, 912 2, 547) 27, 507 Parks and recreation 482, 257 466, 642 15, 6151 478, 385 Total Expenditures and Encumbrances $2, 239, 53? $2, 076, 805 $(162, 732) $2, 026, 690 Transfers to other funds 2, 911 Total Expenditures, Encumbrances and Transfers 239�. 537 $2 076, 805 162, 732) $2, 029. 601 ExcPSS (Deficiencvl of revenLes. transfers in and a�,�onriations from fund balance over exnendi- �ures. encumbrances and �ransfers out 188, 275 $188, 275 74, 512 (See notes to financial statements) This statement is an integral part of report dated June 26, 1974 -19- Gitv of BrooklVn �enter Schedule 4-A General Fund STATEMEN T OF REVENUE BUDGET AND ACTUAL OBJECTIVE CI.,ASSIFICATION l i Year 1973 Actual Final Ove r( Unde r) Bud�et Actual Bud�et Ad Valorem Taxes Real estate taxes $877, 414 $877, 488 74 Penalties and interest on tax bills 20, 000 17. 914 2, 0861 Total Ad Valorem Taxes $897, 414 $895, 402 2, 012) Shared Taxes Sales $497,23� $499,263 2,029 Cigarette 68, 500 71, 511 3, O11 Liquor 58,000 59,747 1,747 Mortgage registry 10, 000 15 69b 5, 696 Bank excise 2, 000 565 1, 435) Police pension aid 17, 000 22, 768 5, 768 Mobile homes 6 6 Total Shared Taxes $652, 734 $669. 556 16, 822 Char�es for Services Recreation $204, 406 $�96, 855 7, 551) Sale of maps 2, 300 1, 787 513) Zoning and plattin� fees 2, 00� 1, 113 887) Burglar alarm service 1, 700 1, 260 440) Fire alarm service 1, 300 1, 008 292) Weed cutting 1, 500 1, �476 24) Filing fees 20 20 Total Char�es for Services $213. 206 $203, 519 9, 687) Inter-Fund Char�es Engineering, clerical and labor 32, 000 33, 474 1, 474 Public utilities rent and administrationl 12. 300 18, 304 6, 004 Total Inter-Fund Char�es 44. 300 $�1. 778 7, 478 1 Licenses and Permits Building permits 18, 510 Malt license 31, 055 Electrical permits 10 692 Plumbing permits 9, 732 I Heating permits 5, 815 Sewer and water permits 4, 530 Food license 2, 404 Dog permits 3, 432 -�o� i Schedu�e 4-A �itv of Brooklvn Center Cont'd Gene ral Fund STATEMENT OF REVENUE B UDGET AND ACTUAL OBJECTIVE CLASSIFICATION Year 1973 Actual Final Ove r( Unde r) Bud�et Actual 8udeet Licenses and Permits, Cont'd Bicycle license 2, 409 Miscellaneous business licenses 1, 057 Vehicle license 1, 125 Heating license 850 Cigarette license 1, 014 Swimming pool license 1, 095 Garbage license 772 I Service station 766 Bowling alley 195 Taxicab license 400 All other licenses and permits 153 Total Licenses and Permits 86, 500 96. 006 9. 506 Court Fines Costs and fe.es 45, 000 53. 862 8, 862 Othe r Income Rental of property 7, 000 5, 518 1� 482) Grants 8, 571 14, 868 6, 297 Civil defense reimbursements 4, 295 6, 382 2, 087 1 Interest on temporary investments 20, 000 1, 482 18, 518) Miscellaneous 1, 000 10, 044 8, 044 Gifts private sources 1, 177 1, 513 336 Police towing charges 300 322 22 Total Other Income 42. 343 40, 129 3. 214) Transfers from Other Funds Municipal Liquor Fund $204, 043 $204, 043 Federal Revenue 5haring Fund 20. 500 17, 288 3. 212) Total Transfers from Other Funds $224. 543 $221. 331 3, 212) f Appropriations Appropriation from Fund balance 33, 497 33, 497 Total Revenues,Transfers and Appropriations $2, 239. 537 $2, 265, 084 24, 543 (See notes to financial statements) This statement is an integral part of report dated June 26, 1974 -21- Actual 19 �3 Qve r Actual Final 1973 (Under) Priar Bud�et Actual Bud�et Year Gene ral Gove rnment Mayor and Council 69, 976 27, 764 42, 212) 22, 594 Elections and voter registration 6, 210 4, 163 2, 047) 7, 024 Finance Administrative office 172, 743 164, 498 8, 245) 172, 589 Assessor�s office 50, 508 48, 085 2, 423) 43, 340 Accounting and internal audit 68, 580 59, 319 9, 261) 47, O10 Independent audit 8, 500 8, 578 78 8, 544 Legal 29, 270 24, 346 4, 924) 28, 195 Charter commission 1, 500 262 1, 238) 135 General government building 154, 649 143 999 10, 650) 166, 946 Tax revenue lost by court order 13, 954 13. 954 Total General Government $575. 890 $494. 968 80. 9221 $496. 37? Public Safetv and Welfare Police protection $494, 582 $480, 356 14, 226) $460, 984 Fire protection 41, 804 39, 614 2, 190) 38, 147 Protective inspection 54 989 52, 755 2, 234) 48, 063 Civil defense 9, 386 5, 884 3, 502) 4, 846 Animal control 8, 500 7, 796 704) 7, 718 Weed eradication 3, 500 1, 038 2, 462) 1, 342 Total Public Safetv and W; lfare $612, 761 $587, 443 25, 318) $561. 100 Hi�hways. Streets and Walks Engineering department $132, 961 $122, 631 10, 330) $110, 611 Street department 294, 734 271, 431 23, 303) 245, 283 Maintenance shop 60, 975 57, 846 3, 129) 58, 915 Street lighting 50, 500 48, 932 1, 568) 48, 512 Total Hi�hwavs, Streets and Walks $539, 170 $500, 840 38, 330) $463, 321 Health Health regulation and inspec- tion 17, 500 1�4, 953 2, 547) 15, 548 Nursing se rvice 1 1, 959 1 1, 959 11 959 i Total Health 29. 459 26, 912 2, 547) 27. 507 (See notes to financial statements) This statement is an integral part of report dated June 26, 1974. -22- Citv of Brooklyn Center 5chedule 4-B General Fund STATEMENT OF EXPENDITURES AND ENCUMBRANCES BUDGET AND ACTUAL I CLA5SIFZED AS TO ACTIVITY CHAR.ACTER AND OBJECT Year 1973 I 1973 Actual Classified by Character and Object Personal Contracted Capital Service Service Commodities Other Outlays 17, 517 10, 247 2, 610 229 252 1, 072 86,752 33,162 11,678 30,401 2,505 44,762 656 41 2,506 120 42,32b 16,809 184 8, 578 23,768 552 26 262 b9, 355 55, 253 9, 444 1, 305 8, 642 13. 954 $295,930 89,852 21,163 75,500 12,523 $427,745 11,384 9,408 8,491 23,328 27, 491 2, 200 2, 417 1, 586 5, 920 50,878 526 1,351 2, 809 1, 311 354 1, 410 7, 796 1, 038 $517,757 14,895 12,179 12,013 30,599 $116,879 2,056 1,093 2,603 198, 113 39, 344 2, 232 31, 742 2,009 50,429 5,175 233 48, 932 $314,992 50,941 91,829 8,500 34,578 14, 953 11, 959 26,912 -23- Actual 19 73 Ove r Actual I Fixial 1973 (Underj Px•ior I Bud�et Actual Bud�et Year Parks and Recreation Supervision o£ recreation $183, 564 $186, 464 2, 900 $189, 311 Adult programs 23, 825 28, 875 5, 050 26, 344 Teen programs 22, 042 14, 746 7, 296) 17, 559 Children's prograins 36, 546 37, 366 820 33, 189 Gene ral programs 34, 785 32, 901 1, 884) 42, 814 Community center 115, 245 110, 928 4, 317) 98, 081 Park maintenance and improve- ment program 66, 250 55, 362 10, 888) 71, 087 Total Parks and Recrea- tion �482, 257 $466, 642 $(I5, 615) $478. 385 Transfers to Other Funds 2, 911 Total Expenditures, Encumbrances and Transfers Out $2, 239, 537 $2, 076, 805 $(162, 732) $2, 029, 601 (See notes to financial statements) This statement is an integral part of report dated June 26, 1974 -24- r Citv of Brooklvn Center Schedule �-B General Fund Cont'd 5TATEMENT OF EXPENDZTURES AND ENCUMBRAI�TCES BUDGET AND ACTUAL CLASSIFIED AS TO ACTIVITY, CHAR�►,CTER AND OBJECT Year 1973 1973 Actua�, Classified by Character and Obiect Personal Contracted Capital Service Service Commodities Other Outlays $171,149 5,Q90 1,883 2,986 5,356 16, 715 12, 160 10,327 4,419 28, 398 8, 96$ 28,227 4,674 87, 624 19, 328 3, 976 14, 579 15, 416 488 24, 879 $3�2, 440 19, 669 66, 848 7, 450 30, 235 $1,498.031 $175,357 $192,019 $103,463 $I07,935 _�5_ Park Popr Goncessions Fund Fund A55ETS Cash on hand and in de ositories ?3 499 P Temporary investments 13 906 $11 Due from other funds 195 Taxes receivable 1, 494 Contract receivable sa�e of li.brary Accrued interest receivalale library contract Totals 15 668 1, 310 LIABTLITIES AND FUND BALANCE Vouchers payable 1,356 Due to other funds (Note 9) Fund balance (Exhibit 6) 14, 312 1, 310 Totals $15, 668 1, 310 (5ee notes to financial statements) This statement is an inte ral art of re ort dated June 26, 1974 g P P -26- Exhibit 5 Citv of Brooklvn Center St�ecial Revenue Funds COMBINED BALANCE SHEET (COMPARATIVE) December 31, 1973 and 1972 Group Library Federal Combined Total Training Sales Revenue Sharing Current Year Previous Year Fund Fund Fund �1973 1972 63 30 665 19 188,860 $240,232 443,809 163,574 195 1,494 1,475 72, 753 3, 638 63 $188.890 $240,232 $446.163 $241,459 1,356 1,120 34, 750 34, 750 63 154,140 $240.232 410,057 240,339 63 $188,890 $240,232 $446.163 $241,459 -27- t Park Poor Concessions Fund Fund Fund Balance Januarv 1 9, 530 78) Add: Revenue (Exhibit 7) 20, 460 2, 241 Deduct: Escpenditures and encumbranees (Exhibit 7) 15, 678) 853) Fund Balance December 31 (Exhibit 5) 14, 312 1, 310 (See notes to financial statements) This statement is an integral part af report dated June 26, 1974 -2$- Exhibit 6 Citv of Brooklvn Center Special Revenue Funds COMBINED ANALYSI5 OF CHANGES IN FUND BALANCE (COMPARATIVE� Years 1973 and 1972 Group Library Federal Cornbined Total Training Sales Revenue Sharing Current Year Previous Year Fund Fund Fund 1973 1972 63 $159,'� 71,396 $240,339 $157,368 10,012 198,871 231,584 122,109 1 15, 300) 30, 035) 61. 866� 39. 138) 63 $154, 140,� 240 232 S $410,_057 $240, 339 I 1 1 1 1 -29- Park Poor Concessions Fund Fund Revenue General property tax ad valorem levy 20,051 Interest on temporary investments 409 58 Interest on contract receivable Concession receipts 2, 183 Federal revenue sharing grants Total Revenue (Exhibit 6) 20, 460 2, 241 Expenditures Subsistence, care and support payments 7, 129 Administrative charges 8, 517 Purchases for resale 605 Purchases of equipment 248 Taxes written off 32 Transfers to other funds Total Expenditures (Exhibit 6) 15, 678 853 Excess (Deficiencv) of Revenue Over Expenditures 4, 782 1, 388 (See notes to financial statements) This statement is an integral part of report dated June 26, 1974 -30- Exhibit 7 City of Brooklyn Center 5pecial Revenue Funds COMBINED STATEMENT OF REVENU�S AND EXPENDITUR.E5 (COMPARATIVE) Years 1973 and 1972 Library Federal Combined Total Sales Revenue Sha,ring Current Year Previous Year Fund Fund 1973 1972 20,051 37,212 7, 532 12, 613 20, 612 5, 908 2,480 2,480 3,638 2,183 2,955 186,258 186.258 71,396 10.012 $198,871 $231,584 $122,109 7, 129 10, 278 8, 5�.7 7, 604 605 4,870 248 684 32 2 15.300 30.035 45.335 15.700 15.300 30,035 61,866 39.138 5.288) $168,836 $169,718 82.971 1 -31- Certificates Library of Indebtedness Bonds #10 ASSETS Cash in bank 46 Taxes receivable Due f rom othe r fund s Temporary ir�vestments 2, 389 918 Due from other governmental agencies Monies on deposit with the State of Minnesota Uncollected dedicated funds: Special assessment5 surpluses to be transferred Totals 2, 435 918 LIABILITIES AND FUND BALAN�E Vouchers payable Due to other funds Contracts payable Unexpended appropriationg (Exhibi� 9) Fund bala�ce reStricted to State approved projects (Exhibit 9) Unappropriated fund balance (Exhxbit 9) 2.435 918 Totals 2, 435 918 (See notes �o financial statements) This stateme�t is an integral part of report dated June 26, 1974 -32- Exhibit 8 Citv of Brooklm Center Capital Proiects Funds COMBINED BALANCE SHEET (COMPARATIVE) December 31. 1973 and 1972 Certificates Open-Space Capital Municipal Combined Total of Indebtedness Acquisition Projects State Aid for Current Year Previous Year #11 Fund Fund Construction 1973 1972 3, 412) 29 3 3, 334) 2, 081) 1, 793 1, 793 1, 931 210 210 20,029 486 9 107, 057 1, 257, 703 1, 368, 562 1, 686, 504 87, 525 87, 525 87, 525 102,408 102,408 53,925 89.000 89,000 89.000 486 84, 122 $197, 879 $1, 360, 324 �1,,, 646, 164 �1,, 936. 833 40 12 52 3,371 50, 977 1, 197 253, 122 305, 296 314, 579 77, 919 77, 919 77, 512 30, 642 94, 882 243) 125, 281 308, 384 875 796 875 796 1 011, 185 486 2,503 101,760 153,718 261,820 221,802 486 84,122 $197.879 $1,360,324 ,�1 646,164 ,�1,936,833 (Exhibit 1) -33- Certificates of Library Indebtedness Bonds #10 Reserve for Authorized Expenditures General debt: General obligation bonds $250, 000 Certificates of indebtedness 4�, 000 Ad valorem taxes Sale of property Grants from other governmental units: Hennepin County U. S. Government State of Minnesota for parks 5tate of Minnesota for highways Transfers-In from other funds: General Fund t Special Assessment Funds Federal Revenue 5haring Fund Dedicated funds appropriated Interest earned on investments 1. 675 344 Total Amount Appropriated $2 51, 675 44, 344 Less: Expenditures for authorized purposes: Total expenditures through December 31 prior year $249, 240 43, 426 Current year expenditures: Open space land acquisition Debt service 5treet construction Civic Center Municipal service garage and fire station (East) Parks and playgrounds Total Authorized Expenditures throu�h December 31 $249. 240 43, 426 Reserve for Authorized Expenditures December 31: Unexpended appropriations (Exhibit 8) F'und balance restricted to 5tate-approved projects (Exhibit 8) Unappropriated Fund Balance, December 31 2, 435 918 See ote s to fi a c' al s a e n n n i t tem nts) This statement is an integral part of report dated June 26, 1974 -34- City of Brooklvn Center Exhibit 9 Capital Proiects Funds COMBINED STATEMENT OF APPROPRIATIONS, E�PENDITURES AND FUND BALANCES fCOMPARATIVE) Years 1973 and 1972 Municipal Ce rtificate s Open State Aid of Space Capital for Combined Totals Indebtedness Acquisition Projects Highway Current Year �revious Year #11 Fund Fund Construction 1973 1972 $2, 2�0, 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 1 74, 643 74, 643 74, 643 1, 396, 340 1, 396, 340 1, 186, 114 92,997 3,000 95,997 95,997 87,000 87,000 87,000 12,747 12,747 279,000 279,000 279,000 124 2,503 235,839 346,557 587,042 477,734 9. 624 $344, 568 $3, 170, 372 $2, 772, 897 593, 480 $6, 261, 199 1 9,138 $309,507 $2,945,858 $1,162,659 $4,719,828 $4,140,102 1,916 1,916 1Q2,508 38,404 38,404 39,888 542,563 542,563 399,896 10, 955 10, 955 7, 886 5, 007 5, 007 263 11,910 11,910 29,285 9.138 $311,423 $2.973,730 $1,743,626 �5 330,583 �4 719.828 30,642 94,882 243) 125,281 308,384 875, 796 $75. ?96 $1, 011, 185 486 2.503 101,760 153,718 261,820 221,802 -35- Pa rk Lib ra ry ASSETS Bonds Bonds Cash on hand and in depositories 99 74 Temporary investments 34, 557 9, 666 Due from other funds 29, 983 307 Taxes receivable 2, 128 25) Totals 66, 767 10, 022 j LIABILITIES AND SURPLUS Fund balance (Exhibit I1) 66, 767 10, 022 Unappropriated surplus (Exhibit 11) Totals 66, 767 10, 022 (See notes to financial statements) This statement is an integral part of report dated June 26, 1974 -36- i Exhib it 10 C itv of B rooklvn Cente r D.ebt Service Funds COMBINED BALANCE SHEET (COMPARATIVE) Decembe r 31, 1973 and 1972 Certificates State Aid Improvements Combined Total of Street Building Current Year Previous Year Indebtedness Bonds Bonds 1973 1972 74 27 274 318 9,930 6,393 40,033 100,579 80,283 612 262 31,164 6,239 462 15. 615 18, 180 12, 786 11.078 6,393 55,937 $150,19? 99,626 6,393 55,937 $139,119 89,093 11,078 11,078 10,533 11,078 6,393 55,937 $150,197 99.626 1 1 1 1 1 -37- Pa rk Lib ra ry Bor�„�i� Bonds Fund Balances Januarv 1 33, 706 8, 818 Add: Revenue and transfers General property tax levies 27, 908 State aid Sale of properties 29, 362 Interest on temporary investments 2, 368 4$5 Transfer from other funds 15, 300 Total Balance and Additions 93, 344 24, 6Q3 Deduct: Expenditures: Principal paid on bonds 20, 000 10, Op0 Interest on bonds 6, 393 4, 530 Fiscal agent fees 97 24 Write off tax levy balances 87 27 Total Expenditures 26, 577 14, 581 Fund Balance December 31 (Exhibit 10) 66, 767 10, 022 Unapp�opriated Sur�lus Decemb�r 31 (Exhibit 10) (See notes to financial statements) This statEment is an integral part of repart dated June 26, 1974 -38- Citv of Brooklvn Center Exhibit 11 Debt Service Funds COMBINED STATEMENT OF REVENUE, EXP�NDITURES AND FUND BALANCES (COMPARATIVEI Years 1973 and 1972 Certificates 5tate Aid Improvement Combined Total t of Street Building Current Year Previous Year Indebtedness Bonds Bonds 1973 1972 10,533 6,370 40,199 99,626 84,3g6 268, 082 295, 99� 220, 497 49 540 49 540 49 540 29, 362 613 154 3,633 7,253 4,373 38,404 53,704 55,492 11,146 94,468 $311,914 $535,475 $414,298 25, 000 $110, p00 $1(�5, 000 90, 000 62,903 145,275 219,101 223,927 172 501 794 712 68 201 383 33 68 88,075 $255,977 $3$5,278 $314,672 6,393 55,937 $139.119 89,093 11, 078 1, 078 10, 533 r 1. Fund balance available for caunc.i]. appropriation for city use because debt service activity complete and ther� are nAt out standing bond s -39_ 1 B�ond Fund 1955 A 1956 AG ASSETS Nq. 1 F'und Fund Cash on hand and in depositories 99 66 31 Temporary inve��rxaents �2Q 93, �88 130, 655 Accounts receivable Due f rom othe r fund s 64 72 5 2� Ass�sSments receivable: Future installments (�rincigal) 344 17, �83 42, 340 Del�nqu�nt assessment� �pri�ncipal intcr�st) 110 5, 128 5, 87� City General Fund (p�inciQal ��o int�re�t charge) 962 2, 770 Interest applicabl,e to curr�nt y��.r pn installxn�z��s due in foJ.lowing y�ar Installments app].ica�bl� to tax for�eit prpperty 91 108 602 Authorization to as$ess far cons�ruction ir� prpgre�s t Deferred int�re�t �harges Due from other governme��aJ, uni�� Totals 12, �28 $117, 107 $1$2, 796 LIABILIT'T�ES Bank overdraft Due to othe r gove rnmer��al units 2 53 Accounts payab�.e Contracts payable Accrued exp�nses and costs Due to other funds 399 22 Construc�ion loans pay�bl� 1v1SA advances for con�truction Bonds payable future year5 (Exh�,bit 15) 34, 000 60, 000 Tota1 Liabi,lities $�4, 417 60, 275 Unap ropria�ed sur lus (defici�) fpr deb� P P reti�ernent (Exhibi,t 13) 12, $2$ 82, �90 122, 521 Unexpended appropriations for c�nstruetipn (Exhibit �4) Tata15 12.$28 $117,107 $182,796 (SF� �otes to fina�,ci�l 5t�.tez�ents) This statem�nt is a� i�tegra], part of r�port dated June 26, 197�, -�0� I Citv of Brooklvn Center Exhibit 12 Special Assessment Funds COMBINED BALANCE SHEET (COMPARATIVE) December 31, �973 and 1972 1956 B Combined Total 1957 AB 1958A 1958B 1959 AB 1960 AB 1961 AB 1963 1965 1966 1968 1970 1971 1972 Current Year Previous Year Fund Fund Fund Fund Fund Fund F'und Fund Fund Fund Fund Fund Fund 1973 1972 104 34 31 146 177 237 81 292 56 13 563 2,732 4,662 4,662 23,397 124,427 130,518 114,617 342,345 396,392 225,603 59,072 88,218 77,087 113,477 $184,539 2,115,855 1,840,50Q 13,985 13,985 27,149 249 398 674 437 20,132 180 3,233 34,057 532,655 592,674 269,072 25,810 67,018 24,767 85,638 287,933 175,174 171,748 101,048 258,064 375,375 1,595,980 633,817 185,850 4,048,289 4,436,199 574 5,419 318 806 23,881 6,042 3,450 1,150 8,676 13,391 184,329 53,028 312,177 270,543 124 21 469 15, 145 6, 036 11, 517 12, 579 12, 158 167, 412 47, 493 3, 497 280, 183 293, 537 1, 204 17, 425 18, 629 8, 477 126 765 1,731 674 169 3,275 2,467 1,082 11,090 25,146 528,192 528,192 443,119 30, 392 5, 970 36, 362 33, 280 497 1.529 3.983 341 647 6 ,997 50,135 $197,933 $157,365 $202,378 $656,901 $600,922 $407,259 $174,163 $390,192 $478,204 $2,095,386 $961,190 $1,284,336 $7,969,095 ,$7.651,684 I I, 2,469 2,469 I 199 470 I 43 70,575 70,575 71,332 52,030 52,Q30 98,043 26 154 1,357 60 380 1,408 181,008 215,611 73,292 473,717 237,494 731,700 731,700 1,132,000 247, 397 247, 397 125,000 90,000 $185,000 525,000 440,000 $275,000 $140,000 360,000 450,000 1,740,000 695,000 5,119,000 4,991,000 225 $125,154 90,000 $185,000 $526,357 $440,060 $275,000 $140,000 $360,380 $451,408 $1,921,008 $913,080 $1,174,994 $6,697,358 $6,529,912 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 1,063,515 94, 278 94, 278 58, 257 50,135 $197,933 $157,365 $202,378 $656,901 $600,922 $407,259 $174,163 $390,192 $478,204 $2,095,386 $961,190 $1,284 �,969.095 $7.651,684 (Exhibit 1) I -41- Bond Fund 1956 A 1956 AG No, 1 Fund Fund Unappropxiated Surplus January 1 12, 4"L1 76, 644 $113, 978 Adiustments to Unannropriated Suxnlus: Additions: Assessment xeceivable increases and redi st ributioz� s Deductions: Losses or� sale of tax forfei� proper�ies in prior years 13 25 303 Assessments of prior years written off in lieu of ci�y� share 369 13 Total Deductions 3$2 25 316 Adlusted UnappropriatEd Surplug January 1 12, 039 76 619 $113 662 Add: Revenue Interest assessments 69 1, 330 2 995 Interest investments 720 6.444 9. 198 Revenue 789 7, 774 12, 193 Less; Expenditures: Interest 1, 658 3, 280 Agent charges 45 54 Txansfers to Capital Frojects Fund Expendituxes -0- 1, 703 3, 334 Unappropriated Surx�lus, December 31 12, 828 $$2. 690 $122, 521 t (To Exhibit 12) See note s to �inancial statements) This stat�ment is an integ�'a1 part of report dated Tune 26, 1974. -4L- 1 Citv of B rooklvn Cente r Exhibit 13 5pecial Assessments Funds COMBINED STATEMENT OF REVENUE.EXPENDITURES AND UNAPPROPRIATED SURPLUS FOR DEBT RETIREMENT (COMPARATIVE) Years 1973 and 1972 1956B Combined Total 1957 AB 1958A 1958B 1959 AB 1960 AB 1961AB 1963 1965 1966 19b9 1970 1971 1972 Current Year Previous Year Fund Fund F'und Fund Fund Fund Fund Fund Fund Fund Fund Fund Fund 1973 1972 47,307 65,300 60.597 �S 13,298 $114,815 $�53,004 $116,442 �0,787 25,946 24,985 $167,956 40,035 $1,063,515 $1,081,987 223 310 34 3, 477 4, 044 246 56 3, 466 7, 790 213 12,112 147 9 8 478 1,009 3,776 127 145 24 6,105 393 9 8 534 4,475 11 ,566 127 358 24 18,217 46,914 65,291 60.589 12,764 $110,563 $141,748 $116,315 30,463 25,922 24,985 $167,956 43,512 $1,049,342 $1,081,987 2, O10 4, 980 1 919 5, 872 20, 628 12, 314 11, 908 5, 748 16, 349 29,275 $143, 068 53, 724 17, 424 329, 613 334, 725 986 8,591 8,832 8,404 23,639 24,993 14,560 3,830 6,346 6.176 8,557 371 131,647 120,833 2,996 13,571 10.751 14,276 44,267 37,307 26,468 9.578 22,695 35,451 $151,625 54,095 17,424 461,260 455,558 6, 000 3, 940 9, 600 24, 075 18, 085 10, 480 5, 845 18, 725 33, 475 $144, 813 49, 460 2, 360 331 79b Z81, 940 83 35 62 211 108 44 33 80 165 390 37 1,347 2,090 190,000 -0- 6,083 3,975 9 ,662 24,286 18,193 10,524 5,878 18,805 33,640 $145,203 49,497 2.360 333,143 474,030 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 $1,063,515 t 1 -43- THOSE PROJECTS CLQ5ED DURING 1973 I Anpropriations (Note 3) Proj ect O ri ginal Added) Final Number DescriAtion Appropriations C�.ncelled A�brobriation 71-15 Street 13, 500. 00 13, 500. 00 71-23 Street 25, 200. 00 25, 200. 00 72-16 Sanitary sewer 27, 000. 00 27, 000. 00 72-17 Storm sewer 90, 000. 00 90, 000. 00 72-18 Water main 33, 330. 00 33, 330. 00 72-27 Water main 7, 300. 00 7, 300. 00 72-28 Sanitary sewer 14, 100, 00 14, 100, 00 72-29 Street 1, 500, 00 1, 500. 00 72-32 Water main 10, 900. 00 10, 900. 00 72-33 Street 3, 350, 00 3, 350. 00 Total Proiects Closed in 1973 $226, 180. 00 -0- $226. 180. 00 (5ee notes to financial statements) This statement is an integral part of report dated June 26, 1974. Citv of B rooklvn C ente r Exhibit I 4 Special Assessment Funds CONSTRUCTION EXPENDITURES COMPARED TO APPROPRIATIONS AND ASSESSMENT OF COSTS Year I973 ExAenditures Costs Assessed Assessed Compared to Cost Balance During Total State Aid Pr.operty (Under) Over Applied to Water 1/1 /1973 1973 Expenditures Share Share Total Assessed Utility 17, 283, 62 15. 49 17 299 11 17, 298. 34 17, 298. 34 77) 14, 852. 22 879. 51 15, 731. 73 15, 731. 72 15, 731, 72 O1) 24, 072. 53 2, 126. 46) 21, 946. 07 21, 946, 07 21, 946. 07 77, 533. 67 5, 636. 94 83, 170. 61 5, 204. 42 77, 966. 12 83, 170. 54 07) 30, 154. 14 3, 050. 55 33, 204. 69 33, 204. 69 33, 204, 69 5, 895. 53 414. 65 6, 310. 18 2, 360. 00 2, 360. 00 3, 950. 18 12 421 88 1, 429. 96) 10, 991. 92 10, 991. 94 10, 991. 94 02 3, 162. 68 1 698 10) 1, 464. 49 1, 464. 43 1, 464. 43 06) 9, 824. 29 1, 082. 70 10, 906. 99 4, 130. 00 4, 130. 00 6, 776, 99 4, 5I2, 89 1, 014. 07) 3, 498. 82 3, 498. 78 3, 498. 78 04) $199. 713. 45 4. 811. 16 $204. 524. 61 5. 204. 42 $188. 592. 09 $I93, 796. 51 93) 10, 727. 17 -45- Citv of Brooklvn Center Exhibit 14 Stiecial Aasessment Funds �ont'd CON5TRUCTION EXPENDITURES COMPARED TO APPROPRIATIONS AND AS5ESSMENT OF COSTS Year 1973 PRQTECTS IN PROCESS AT DECEMBER 31, 1973 Appropriated Expenditures Unexpended Project Through Through (Overexpended) Number Description 12-31-?3 12-31-73 Approvriations 71-3 Curb and gutter 6, 300. 00 6, 300. 00 -0- 71-24 Curb and gutter 9, 300; 00 9, 300. 00 72-19 Water main 88, 000. 00 41, 932. 76 46, 067. 24 72-20 Bridge 13, 000. 00 14, 292. 13 1, 292. 13) 72-25 Sanitary sewer 2, 350, 00 1, 863. 00 487. 00 72-26 Street 15, 941. 66 15, 941. 66 -0- 72-34 Street 32, 000. 00 32, 363. 52 363, 52) 73-8 Street 12,000.00 10,680.16 1,319.84 73-9 Water main 25, 000, 00 20� 133, 54 4, 866. 46 73-10 Street 12, 400. 00 11, 024. 71 1, 375. 29 73-11 Grading and base 52, 000, 00 40, 848. 64 11, 151. 36 73-12 Curb,gutter and sidewalk 23, 000. 00 18, 919. 12 4, 080. 88 73-13 Grading and base 125, 000. 00 128, ?83. 87 3, 783. 8?) 73-14 Curb and gutter 45, 000. 00 38, 958, 51 6, 041. 49 73-16 Service extension public utility 4, 000. 00 4, 677. 57 677. 57) 73-31 Water main 21, 500. 00 1, 683, 66 19, 816, 34 73-32 Street 6, 100. 00 96. 61 6, 003. 39 73-33 Sanitary sewer 11, Q00. 00 6, 248. 86 4, 751. 14 73-36 Water main 15, 800. 00 15, 800, 00 73-37 Street 8, 500, 00 8, 500. 00 Unallocated costs 39, 165. 80 39, 165. 80) ppronriations �528.191.66 Total A Total Extienditures $433. 914. 12 Excess Appropriations Over Expenditures (To Exhibit 12) 94.277. 54 (See notes to financial statements) This statement is an integral part of report dated June 26, 1974. -46- Bond Redemption Year af Total Monies to Fund Describtion of Issue Issue Issue Pavin� A�ent 1955 A 1955 A serial issue 1955 497, 000 463, 000 1956 AC 1956 C serial issue 1956 550, 000 490, 000 1958 A 1958 A serialissue 1958 530,000 405,000 1958 B 1958 B serialissue 1958 390,000 300,000 1959 AB 1959 AB serial issue 1960 630, 000 445, 000 1960 AB 1960 A serial issue 1960 768, 000 573, 000 1960 B serial issue 1961 885, 000 555, 000 1961 AB 1961 A serial issue 19b2 595, 000 345, 000 1961 B serialissue 1963 430,000 240,000 1963 1963 A serial•issue 1964 636,000 361,000 1965 1965 A improvement bonds 1966 345, 000 205, p00 1966 1966 improvement bonds 1968 750, 000 390, 000 1969 1969 improvement bonds 19b9 755, 000 305, 000 1970 1970 improvement bonds 1970 2, 290, 000 550, 000 1971 1971 improvement bonds 1971 745, 000 50, 000 Total $10, 796, 000 �5, 677, 000 (See note s �o financial statements) This statement is an integral part of report dated June 26, 1974, -47- E xhibit 15 Citv of Brooklvn Center 5pecial Assessment Funds 5TATEMENT OF LONG-TERM DEBT (PRINCIPAL AMOUNT OUTSTANDING) December 31, 1973 Balance Last Unpaid Installment 12-31-72 Due on Couvon Rates on Outstandin� Bonds 34,000 �-1-76 3.25% 60,000 1-1-77 4.10 125, 000 1-1-79 4. 00 90,000 1-1-79 3.60 185, 000 1-1-81 4. 50 195, 000 1-1-8I 5M 3. 00%; 190M 4. 20% 330, 000 1-1-81 285M 4. 20%; 45M 4. 10% 250, 000 1-1-82 100M 3. 75%; 120M 3. 70% 190, 000 1-1-84 70M 3. 70%; 120M 3, 60% 1 275, 000 1-1-85 45M 3. 60%; 80M 3. 50%; 90M 3. 40%; 6M 3. 20% 140, 000 1-1-86 95M 3. 80%; 45M 3. 70% 360, 000 1-1-88 95M 4. 70%; 165M 4. 50°�/0; 100M 4. ZO% 450, 000 1-1-89 6. 50% 1, 740, 000 1-1-90 40M 6. 60°fo; 125 M@ 6. 50%; 125 M@ 6. 40%; 125M 6. 30°jo; 375M 6.25%; 620M 6.00%; 330M 5.50% 695 000 1-1-85 55M 4. 15%; 55M 4. 30%; 50M 4.40%; 50M 4. 50%; 50M 4. 55%; OM 4. 60%; 50M 4. 65%; 50M 4, 70°�0; 50M 4. 75�f 50M 4.80°jo; 185M 4.875% �5, 119� 000 E xhibit 12 -48- ASSETS Current Year Prior Year 1973 1972 Current Assets Cash on hand and in depositories 45, 581 41, 851 Miscellaneous receivables 1, 363 2 929 Terraporary investments 1, 542 1, 446 Due from other funds 12 2, 071 Merchandise inventory (note 4) 165, $85 170, 068 Prepaid expenses 337 3, 420 Total Current Assets $214, 720 $221, 785 Propexties Fixtu re s and Epuipment Humboldt Square Store 43, 9�9 11, 670 Brooklyn Boulevard Store 20, 145 20, 047 Northbrook Store 25. 369 25, 270 89, 453 56, 987 Less: Accumulated provision for depreciation 36, 418 33, 246 Net Fixtures and Equi�pment 53, 035 23, 741 Leasehold and Land Imnrovements Humboldt Square Store 19, 219 Brooklyn Boulevard Store 4, 229 4, 229 Northbrook Store 10, 402 10, 402 33, 850 14, 631 Less: Accumulated provision for amortization 6, 786 3, 963 Net Leasehold and Land Impxovements 27, 064 10, 668 Total Book Value of Properties 80, 099 34, 409 Total Assets $294, 819 $256, 194 Formerly Lyndale Avenue Store (See notes to financial statements) This statement is an integral part of report dated June 26, 1974, -49- Exhibit 16 Citv of Brooklvn Center Municipal Liauor Fund BALANCE 5HEET (COMPAR.ATIVE) December 31, 1973 and 1972 LIABILITIE5 AND SURPLUS Current Year Prior Year 1973 1972 Current Liabilities �ccounts payable 78 960 59, 142 Accrued sales tax payable 7, 228 6, 499 Accrued salaries and wages payable 3, 484 2, 597 Accrued insurance payable 613 Due to other funds 205, 367 110, 1.28 Contracts payable 3.292 Total Current Liabilities $298, 331 $178, 979 Retained Earnin�s Retained earnings (deficitj (Exhibit 17) 3. 512) 77, 215 Total Liabilities and Retained Earninf�s $294, 819 $256, 194 -50- Exhibi:t 17 Citv of Brooklvn Genter Municinal Liquor Fund ANALYSIS OF CHANGES IN SURPLUS (COMPARATIVE) Years 1973 and 1972 Gurrent Year Prior Year 1973 1972 Retained Earnin�s Januarv 1 77, 215 $j.25, 641 Add: Net income (Exhibit 19) 123, 316 133, 912 Balance and Additions $Z00, 531 $259, 613 Deduct: Transfers to General Fund (Exhibit 4) 204, 043 182, 398 Retained Earnin�s (Deficit) December 31 (Exhibit 16) 3. 512) 77, 215 (See notes to financial statements) This statement is an in�egral part of report da�ed June 26, 1974. -51- Exhibit 18 Citv of B rooklvn Cente r Municipal Liquor Fund 5UMMARY 5TATEMENT OF CHANGE5 IN FINANCIAL POSITION (COMPARATIVE) Years 1973 and 1972 Current Year Prior Year 1973 1972 Source of Funds Operations: Net income for year (Exhibit 19) $123. 316 $133, 972 Add: Charges not requiring funds deprec- iation 5, 995 5, 792 Net Funds Provided by Operations $129, 311 $139, 764 Reduction of working capital 126.417 45. 193 Total Source of Funds $255. 728 $184. 957 Aunlication of Funds Purchase of properties 51, 685 2, 559 Transfers to General Fund 204, 043 182, 398 t Total Application of Funds $255. 728 $184, 957 Analysis of Chan�es in Workin� Capital Beginning End of Working Capital of Year Year Increase (Decrease) Current assets $221, 785 $214, 720 7, 065) Current liabilities 178 979 298, 331 (119. 352) Workin� Capital Year 1973 42, 806 �83, 611) $(126, 417) Current assets $292, 131 $221, 785 70, 346) Current liabilities 204, 132 178, 979 25, 153 Workin� Capital Year 1972 87. 999 42, 806 45, 193) (See notes to financial statements) This statement is an integral part of report dated June 26, 1974, -52- Sale s Less: Cost of sales Gross Mar�in on 5ales Operatin� Ex�enses Requirin� Funds Salaries and wages �2.ent Insurance Payroll taxe s Utilitie s 5upplies F3eating Repairs and main�enance Laundry Inva�tory variance Audit Protection services Advertising Telephone Legal fees Provision for uncollectible checks net of recoveries) Cash over) short Mileage Miscellaneous Taxe s and license B reakage Total Operatin� Expenses Requirin� FundS Net Operatin� Income (Loss) Before Depreciation and Amortiza�ion Less: Depreciation and amortization Net Ope ratin� Income Los s) Add: Interest income on temporary investments Miscellaneous income Net Income (Exhibit 17) (See notes to financial stat,eme�ts) This statement is an integral part of report dated .�un� 26, 1974. -53- Exhibit 19 Citv of Brooklvn Center Municipal Liquor Fund STATEMENT OF INCOME AND EXPENSE f COMPARATIVE) Years 1973 and 1972 Combined Total Humboldt Square Brooklyn Boulevard Northbrook Current Year Prior Year Store'� Store Store 1973 1972 $312, 420 $540, 584 $615, 134 $1, 468, 138 $1, 45p, 456 246, 258 427, 273 487, 522 1 161. 053 1, 132. 350 66. 162 $113, 311 $127, 612 307, 085 318. 106 35,679 41,34� 39,275 116,295 118,482 1,227 13,207 14,434 14 ,299 3, 602 4, 476 4, 708 12, 786 14, 792 2, 940 3, 382 3, 707 10, 029 9, 055 1, 972 2, 020 3, 375 7, 367 7, 165 q72 1,315 1,358 3,645 3,584 1,122 359 734 2,215 2,944 454 687 795 1,936 3,118 378 631 616 1, 625 1, 402 474 386 744 1,604 793 409 615 592 1, 616 1, 187 373 641 468 1, 482 1, 510 336 336 337 1,009 301 274 274 849 _815 195 488 683 126 121 181 428 328 92 144 60 296 107 55 58 74 187 253 104 55 25 184 387 29 29 28 86 60 29 29 92 50.840 56.899 71.046 178,785 180,373 15, 322 56� 412 56, 566 128, 300 137, 733 22 1, 354 4, 619 5, 995 5. 792 15,300 55,058 51.947 122,305 131,941 853 761 158 1,270 t 123,316 133.972 *Formerly Lyndale Avenue Store. -54- AS5E TS Current Year Prior Year 1973 1972 Plant. Eauipment and Construction Funds Mains and lines $10, 211, 678 $10, 151, 077 Structures 406, 128 406, 128 Equipment 284, 137 286, 135 Meters 259, 015 246, 296 Land 23, 621 23, 621 Plant and Equipment in Service (Exhibit 25) $11, 184, 579 $11, 113, 257 Construction in progress 603, 144 5, 993 Unexpended bond proceeds (Note 5) 71, 169 629, 317 Total Plant, Equipment and Construction Funds $11, 85$. 892 11 748. 567 Restricted Assets Investments funded depreciation (Note 6) 636, 149 510, 034 Debt retirement account (Note 5) 190, 900 187, 176 Metro Sewer Board receivable (Note 7) 295, 754 303, 747 Investments plant expansion (Note 5) 1, 466, 765 1, 022, 453 Total Restricted Assets 2, 589. 568 2, 023, 410 Other Assets Assessments receivable principal portion 137, 160 85, 651 Investments available for payment of construction liabilities 533, 932 Total Other Assets 671, 092 $5, 651 Current and Accrued Assets Cash in bank 13, 819 13, 376 Accounts receivable 77, 647 86, 394 Accrued revenue (water pumped out, but not billed) 73, 435 69 069 Materials and supplies 8, 195 12, 864 Prepaid expenses 19, 085 15 986 Assessments receivable 2, 672 2, 149 Due from other funds 213, 321 191, 830 Due from other governmental units 43. 367 28, 186 Total Current and Accrued Assets 451. 541 419.854 Totals $15, 571, 093 $14. 277. 482 (See notes to financi,al staternents) This statement is an integral part of report dated June 26, 1974. -55- �y of Br�q�c,�,yn, Center Exhibit 20 Public Utilities Fund SALA,NCE SHEET (COMPARATIVE) December 31, 1973 and 1972 LIABILITIES, RESERVES AND RETAINED EARIVINGS Current Year Prior Year 1973 1972 5ources of Investments in Fixed Assets Long-Term Debt: Revenue bonds (Exhibit 26) (Note 5) 755 000 Contributions, reserves and surplus: ?85, 000 Contributions from special assessments and contractors 9, 538, 172 9, 549, 516 Revenue bonds redeemed (Note 5) 245, 000 215, 000 Interest income accumulated on bond proceeds 303 896 264, 894 Depreciation provisions represented as invested in plant (Note 6) 915, 988 905, 266 Plant and equipment charged to income 100, 836 28. 891 Total Sources of Investments in Fixed Assets 11 858. 892 11 748. 567 Reserves for Restricted Assets Depreciation provisions represented as not invested in plant (Note 6) 636, 149 510, 034 Debt service reserves (Note 5) 190, 900 187, 176 Metro Sewer Board reserves (Note 7) 295, 754 303, 74? Restricted for plant expansion (Note 5) 1, 466 765 1 022. 453 Total Reserves for Reatricted Assets 589. 568 2, 023, 410 Other Liabilities and Credits Customer meter deposits 263, 034 247, 422 Deferred gain on sale of assets (Note 7) 88 690 91, 975 Construction contracts 533 698 Total Other Liabilities and Credits 885 4?�2 339� 397 Current and Accrued Liabilities Vouchers payable 39, 149 13, 834 Contracts and notes payable 301 2, 349 Accrued salaries payable 1, 988 1, 771 Accrued payroll taxes 1, 253 2, 359 Due to other funds 106, 843 13, 860 Total Current and Accrued Liabilities 149, 534 34� 173 Balance of Retained Earnin�s (Exhibit 22) 87, 677 131.935 Totals $15, 571, 093 $14. 277, 482 1 -56- Citv of Brooklyn Center Exhibit 21 Public Utilities Fund 5TATEMENT OF CHANGE5 IN FINANCIAL POSITION (COMPARATIVE) Years 1973 and 1972 Current Year Prior Year 1973 1972 5ources Operations: Utility income 527, 510 278, 089 Add: Charges not requiring outlay of funds: Depreciation (Exhibit 22) 142. 728 137, 455 670,238 415,544 Less: Bond interest expense 30, 639 31, ?67 Total from Operations 639, 599 383, 777 Decrease in working capital 83, 674 Contributions by contractors and special assessments 65, 951 Increase in customer meter deposits 15, 612 16, 026 Restriction of retained earnings for plant expansion (Note 5) 444, 312 1, 022, 453 Interest income accumulated on bond proceeds 39, 002 32, 925 Reduction of Metro Sewer Board receivable (Note 7) 8, 741 11, 486 Reduction in restricted debt service assets 47 Decrease in assessments receivable 4, 265 Total Sources $1. 230, 940 �1,, 536, 930 Application s Invested in plant and equipment 77, 213 103, 577 Increase in construction funds 39, 003 28, 481 Increase in reserve for current year deferment charge of Metro Sewer Board 748 21 908 Debt retirement 30, 000 30, 000 Increase in reserve for plant expansion 444, 312 1, 022, 453 Amortization of deferred gain on sale of assets 3, 285 3, 285 Increase in restricted investments 570 661 302, 835 Increase in working capital 24, 391 Reduction in contributions by contractors and special assessments 11, 344 Increase in restricted debt service assets 2, 865 Increase in assessments receivable 51, 509 Total Applications �1, 230, 940 �1. 536, 930 Chan�es in Workin� Capital Working capital, beginning of year 385, 681 361, 290 Working capital, end of year 302, 007 385, 681 Decrease (Increase) in Workin� Capital 83, 674 24. 391) (See notes to financial statements This statement is an integral part of report dated June 26, 1974. -57- Citv of Brooklvn Center Exhibit 22 Public Utilities Fund STATEMENT OF OPERATION5 AND RETAINED EARNINGS (COMPARATIVE� Years 1973 and 1972 1973 Combined Water Sewer Current Year Prior Year Department IJepartment 1973 1972 �Jtilitv Operatins Revenue Residential sales ,$240, 725. $250, 658 $�91, 3$3 �i 456, 70? Commercial sales 135, 097 149 284, 475 258, 474 Service hookup charges 122, 733 122, 733 19, 204 Penalties 1, 068 5, 057 6, 125 6, 019 Other 1, 679 10, 055 11, 734 28. 269, Utilitv Operatin� Revenue $501, 302 $415, 148 $916, 450 768. 673 Utilitv Operatin¢ Expenses Operating expenses (Exhibits 23, 24) $120, 541 $262, 459 $383, 000 447, 567 Depreciation (Exhibit 25) 89 52, 73? 142, 728 137, 455 Utilitv Operatin� Expenses $210. 532 $315, 19b $525. 728 585, 022 Utilitv Operatin� Income $290, 770 99, 952 $390, 722 183, 651 Other Income Interest 63, 766 73, 022 136, 788 94, 438 Utilitv Income $354, 536 $172, 974 $527, 510 278, 089 Income Additions Metro 5ewer Board reserves restored to retained earnings (Note 7) 8, 741 11, 486 Adjustment of debt service reserves to restricted asset balance 47 Total Income Additions 8. 741 11. 533 1 Income Deductions Redemption of debt 30, 000 30, 000 Interest on long-term debt 30, 525 31, 650 Bond paying agent charges 114 117 Capital outlay charged against income 71, 945 20, 230 Charge for reserve for current year deferment 748 21, 908 Adjustment qf debt service reserves to restricted aeset balance 2, 865 Total Income DPductions. $136, 197 103, 905 Balance of Income Available for Transfer to Retained Earnine�s $400, 054 185, 717 (Exhibit 21) Retained Earnin�s Januarv 1 131. 935 968, 671 Available for Appropriation $531, 989 $1, 154, 388 Less: Appropriation of retained earnings 444,, 312 l 022, 453 Ret Earnin�s December 31 (Exhibit 20) 87 677 131 35 ained (See notes to financial statements) This statement is an integral part of report dated June 26, 1974. -58- Source of Supplv Transmission Labor 9,59g 6, 878 Electricity 19 469 Rent and administration Purification supplies 7, 610 Materials 2, 983 2, 402 Payroll taxe s 869 621 Postage Insurance Repairs 32 1 626 Supplies 1, 081 r 257 Refunds Consulting fees Equipment operation 172 46 Fuel heating 1, 087 f Small tools and equipment 123 Loss on retirement of assets 918 Printing Fuel equipment i Schools and conferences Equipment rental 144 Dues and subscriptions Alarm system 60 Totals 43, 228 12, 748 (See notes to financial statements) This statement is an integral part of report dated June 26, 1974. _59_ City of Brooklvn Center Exhibit 23 Public Utilities Fund WATER DEPARTMENT OPERATING COST5 (COMPARATIVE) Years 1973 and 1972 Classification bv Function Cornbined Totals Customer Current Year Prior Year Administration Accountin� 1973 1972 25,136 13 ,269 54,881 55,017 19, 469 17, 845 9, 152 9, 152 8, 758 7, 610 9, 753 69 5 454 7, 230 2,278 1,202 4,970 4,261 3,575 3,575 3,985 3, 006 3, 006 2, 500 1,658 14,296 91 20 1,449 1,941 t 1, 450 1, 450 534 1, 410 1, 410 9, 692 718 208 1,144 1,678 1,087 1,918 795 918 127 918 663 663 450 560 560 619 500 500 81 288 432 249 I75 175 166 60 1 45�6Z8 18,937 $120,541 $141,100 1- 1 1 1 1 1 -60- D:isposal Pumpin� T ransmi s sion Metro Sewer Board charge (Note 7) $194, 84z Labor 7, 940 6, 406 Rent and administration Electricity 7, 159 Payroll taxes 719 58Q Refunds Materials 1, 368 207 Insurance Postage Equipment ope ration 224 Consulting fees 942 Repairs and maintenance 876 Sma11 tools and equipment 66 Alarm system 710 Legal fees 600 Fuel equipment Supplie s 324 3 Schools and conferences Equipxnent r�ntal 10 174 Fuel heating 163 Printing Totals (Exhibit 22) $215.877 7.436 (See notes to financial 5tatements) This statemen� is an in�egral part of report dated June 26, 1974. -61- C itv of B rooklvn C ente r Exhibit 24 Public Utilitie s Fund SEWER DEPARTMENT OPERATING EXPENSES (COMPARATIVE) Years 1973 and 1972 Classification by Function Combined Totals Customer Current Year Prior Year Administration Accountin� 1973 1972 $194,842 $241,079 13,761 7,034 35,141 32,274 9,152 9,152 8,758 7,159 5,122 1,246 637 3,182 2,516 2, 076 2, 076 475 1,575 3,436 1,376 1,376 3,056 1,158 1,158 1,085 718 208 1,150 1,059 942 3, 531 876 495 753 819 210 710 951 600 288 560 560 619 59 40 42 6 760 206 206 184 316 163 174 162 162 263 29.907 9,239 $262,459 $306,467 -62- �I 1 Assets 1-1-73 12-31-73 Balance Additions Retirements Balance Water Department Mains and lines 4, 877, 404 56, 911 4, 934, 315 Structures 406,128 406,128 Consumer meters in use 246, 296 16, 061 3, 343 259, 014 Equipment 276, 105 551 2, 548 274, 108 Land 23,071 23.071 Total Water Denartment 5, 829, 004 73, 523 5, 891 5, 896, 636 5ewer Department Mains and lines 5, 273, 673 3, 690 5, 277, 363 Equipment 10, 030 10, 030 Land 550 550 Total Sewer Denartment 5, 284, 253 3, 690 5, 287. 943 Totals $11, 113, 257 77, 213 5, 891 $11, 184, 579 (Exhibit 20) (5ee notes to financial statements) This statement is an integral part of report dated June 26, 1974. -63- Exhibit 25 Gitv of Br.oQklvn Center Public Utilities Fund STATEMENT OF PLANT AND EQ[JIPMENT AND ALLOWAIVCE FOR DEPRECIATION December 31, 1973 Provision for Depreciation 1-1-73 12-31-73 Depreciable Balance Additions Retirements Balance Life Years) 376, 927 48, 774 425, 701 100 159, 506 13, 538 173, 044 30 87,422 12�768 3,Q51 97,13q 20 118, 411 14, 911 2, 840 130, 482 5, 10, 20, 25 742,266 89.991 5,891 826.366 663,004 52,737 715,741 100 10, 030 10, 030 5, 10, 20, 25 673, 034 52, 737 725, 771 1 �,1 415. 300 142 728 $,�5, 891 $1, 552. 137 (Exhibit 22) (Note 6) -64- i 1 REVenue Bonds F'ayable Principal Interest Year Certifieate Interest Outstanding Coupons Out- of Numbers Rate 12-31-73 standin� 12-31-73 Maturitv 50-55 3.75% 30,000 29,400 1975 56-61 3. 90 30, 000 28, 264 1976 62-68 3. 90 35, 000 27, 056 1977 69-75 3, 90 35, 000 25, 740 1978 76-82 3.90 35,000. 24,375 1979 83-89 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 18,720 1983 113-120 3.90 40,000 17,160 1984 121-128 3,90 40,000 15,600 1985 129-137 3.90 45,000 13 ,991 1986 138-146 3.90 45,000 12,285 1987 147-155 3.90 45,000 10,530 1988 156-164 3.90 45,000 8,775 1989 165-173 3,90 45,000 7,020 1990 174-182 3.90 45,000 5,265 1991 183-191 3. 90 45, 000 3, 510 1992 192-200 3,90 45,000 1.755 1993 $755,000 $314,332 (Exhibit 20) (5ee notes to financial statements) This statement is an integral part of report dated June 26, 1974. -65- Exhibit 26 City of Brooklvn Center Pu�lic Utilities Fund STATEMENT OF REVENUE BONDS PAYABLE December 31, 1973 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. If red ee med prior to January 1, 1977, premium of 3 2. If redeemed January 1, 1977, or thereafter prior to January 1, 1981, premium of 1-1 /2 3. If redeemed January 1, 1981, or thereafter, no premium, C. The resolution authorizing and directing the issuance of these bonds contains certain covenants and restrictions enacted for the general purpose of protecting the bondholders. Paragraph 8 of the resolution provides for the segregation of assets and the restriction of surpluses for debt retirement purposes and defines the manner in which the activities of the Public Utilities Fund will be accounted for. Note 5 of "Notes to Financial Statements" refers to various accounting requirements in more detail and should be referred to. -66- A�encv Fire Department Relief AssQCiation ASSET5 Cash on hand and in depositories Inve stments Accrued revenue Due from other funds 92 Taxes receivable: Current year's levy 906 Prior years' levy 1, 261 Total Assets 2, 259 LLABILITIES AND FUND BALANCES Accounts ayable P Due to other funds Fund balancES (Exhibit 28) 2, 259 Tota1 Liabilities and Fund Balances 2, 259 (See notes to financial statements) This statement is an integral part of report dated June 26, 1974. -67- Citv of Brooklvn Center Exhibit 27 Trust and At�encv Funds C OMBINED BALANCE SHEET LCOMPARATIVE) December 31, 1973 and 1972 A e�cv Truat Public Employees Police Combined (1lTote 10) Retirement Pension Current Year Prior Year Association Fund 1973 1972 54 68 122 30,460 2,010 540,850 542,860 419,114 9, 006 9, 006 5, 551 4, 467 107 4, 666 3, 455 2,803 2,250 5, 4 ,187 2.432 2,155 5,848 5,701 11,766 $554,436 $568.461 $468,468 12,443 12,443 8,986 2, 715 677) $554,436 556.018 456,767 11 ,766 $554,436 $568.461 $468.468 (Exhibit 1) 1 -68- A�ency Fire Department Relief Association Fund Balance January 1 1, 965 Add: Real e state taxe s 2 5 662 Insurance premium rebate 27 46q PERA contributions fram enterprises funds: Liquor stores Public Utility Fund Exnployee contributions Earnings on temporary investments Balance and Additions 55, 096 Deduct: Expenditures: Payrnent to principal af agency 52, 785 W rite -off of tax levy balance s 52 Refund of employee contributions Total Expenditures 52, 837 Fund $alance December 31 (Exhibit 27) 2, 259 (5ee notes to financial statements) This staterz�ent is an integral axt of re ort dated June 26 1 74. P P 9 _b9_ Citv �f Brooklm Center Exhibit 28 Trust and A�encv Funds. COMBINED STATE1vIENT OF REVENUE, EXPENDITURES AND FUND BALANCES COMPARATIVE) Years 1973 and 1972 A�encv Trust Publi c Employee s Police Combined Retirement Pension Current Year Prior Year As sociation Fund 1973 1972 7, 141 $447, 661 $456, 767 $343 697 I 73, 032 61, 534 160, 228 161, 624 27 ,469 44,134 10,029 10,029 9,055 7, 362 7, 362 6, 544 18,484 18,484 18,344 110 32.206 32,316 23,985 97,674 $559,885 $712.655 $607,383 98,197 $150,982 $142,712 154 206 20 5, 449 5, 449 7, 884 98.3�1 5,449 $156,637 $150.616 677) $554, 436 $556, O18 $456, 767 -70- ASSETS Cash in depositories Accrued interest receivable Inve stment s: Face Premium of Cost Value (Discount) Basis Certificates of deposit 355, 000 355, 000 U. S, government securities 580, 000 9, 436) 570, 564 U. 5, government agency securities 4, 650 oao 6�7 650, 637 Construction loan certificates 731, 700 731. 700 Total Investxnents �6, 316. 700 8, 799) Total Assets LIABZLITIES Contracts payable Due contractors (Performance deposits) Unclaimed cash (Law enforcement activities) Due participating funds (Exhibit 31 Total Liabilitie s (See notes to financial statemen�s) This statement isan integral part of report dated June 26, 1974. -71- Exhibit 29 Citv of Brooklvn Center Investment Trust Fund BALANCE SHEET (COMPARATIVE) December 31, 1973 and 1972 Current Year Prior Year 1973 1972 5, 764 17, 595 145, 464 155, 885 307.901 5,308.823 �6 459,129 �5 482.303 17, 167 29. 887 47, 557 18 18 6.412,057 5,434.728 ,�6 459, 129 �5, 482, 303 -72- Exhibit 30 C itv of B rooklvn C ente r Tnvestment Trust Fund STATEMENT OF EARNINGS (COMPARATIVE) December 31, 1973 and 1972 Current Year Prior Year 1973 1972 Interest Income United States gavernment s,�curities $326, 656 �i255, 361 Construction loans 41, 719 57, �62 Bank savings certificates 23, 65f� 6, 616 Total Interest Income $392, 031 $319. 539 Expenses Audit 8 4 711 Net Income Distributed to Participatin� Funds $391, 221 $318, 828 Explanation The Investment Trust k'und was established in 1956 to provide a uniform and consistent method of investing terr�porary surpluses of cash. Net incQme 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 participatang funds i.s shown b�low by years, Rate of Net Year Retuxn Income 1973 6. 63�/0 391, 221 1972 6. 30 318, 828 1971 6. 66 322, 365 1970 6.30 250,408 1969 5. 90 164, 336 1956-1968 2. 77 5. 20 672, �42 Total Distributed Earnin�s for Years 1956-1973 �2, 119. 600 (See notes to fi�ancial statements) This statement is an inte xal art of re ort dated .Tune 26, 1974. g P P -73- City o£ B rooklvn Cente r Exhibit 31 Inve stment T ru st Fund CHANGE5 IN PARTICIPATINC FUNDS' BALANCE Year 1973 Balance Net Fund Income of Balance January I, Additions 1973 Decembe r 31, 1973 (Withdrawals) Distributed 1973 Special Assessment Funds Bond Fund No. 1 10, 709 b91 720 12, 120 1955 A 95� 344 8, 400) 6, 444 93, 388 1956 AC 127, 953 6, 496) 9, 198 130, 655 1956 B 4, 840 3, 100 367 8, 307 1957 AB 7, 772 6, 699 619 15, 090 1 1958 A 126, 436 10, 599) 8, 590 124, 427 1958 B 137, 186 15, 500) 8, 832 130, 518 1959 AB 124, 313 18, 100) 8, 404 114, 617 1960 AB 342, 485 23, 779) 23, 639 342, 345 1961 AB 371, 676 27?) 24, 993 396, 392 1963 A 213, 843 2, 800) 14, 560 225, 603 1965 A 54, 342 900 3, 830 59, 072 1966 A 82, 472 600) 6, 346 88, 218 1969 A 74, 811 3, 900) 6, 176 77, 087 1970 66, 320 38, 600 8, 557 113, 477 1973 -0- 184,169 370 184,539 General Debt Retirement Funds 80, 283 13, 044 7, 252 100, 579 Othe r Fund s General Fund 63, 414 88, 295 1, 481 153, 190 Poor Fund 9, �97 4, 401 408 13, 906 Public Employees' Retirement 12, 158 10, 258) 110 2, O10 Liquor Fund 1, 446 1 95 1, 542 Public Utilities Fund 1, 532, 486 457, 000 113, 428 2, 102, 914 Bond Funds 3, 558 235 3, 793 1 State Aid Construction Fund 1, 527, 928 (370, 75?) 100, 532 1, 257, 703 Park Concessions Fund 53 700 58 811 Capital Projects Fund 153, 923 55, 400) 8, 534 107, 057 Library Sales Fund 83, 028 98, 300 7, 532 188, 860 Public Utilities Construction Account 26, 431 12, 263) 2, 659 16, 827 Police Pension Fund 1, 613 46, 767 650 49, 030 Open Space Land Acquisition Fund 1, 094 1, 094) 9 9 Public Utilities Revenue Bond Account 24, 660 29, 099 3, 980 57, ?39 Federal Revenue Sharing Fund 71, 397 156, 222 12, 613 240, 232 Undistributed tax settlement 1, 657 1. 657) -0- I Total All Participatin� Funds $5. 434, 728 $586, 108 $391. 221 $6, 412, 057 t (See notes to financial statements) This statement is an integral parE of report dated June 26, 1974. -74- Investment in Fixed Assets Land and land improvements Buildings and building improvements Park properties (including buildings) Furniture and fixtures Departmental equipment 5torm sewers and street projects Total Investment in Fixed Assets I Source s of Inve stment General indebtedness General Fund revenues (includes ad valorem levies) Liquor store revenue certificates Contributions received 5pecial assessment projects: Owners, contracts and city share Hennepin County Capital Projects Fund: General obligations bonds Ad valorem tax levy 1968 and 1969 Sale of land Transfers of surplus froxn special assessments debt service funds Transfer from Mayor and Council's Contingency Account Interest earnings on investments Federal revenue sharing monies Total Sou rce s of Inve stment in Fixed As sets (See notes to financial statements) This statement is an integral part o£ report dated June 26, 1974. -75- Citv of B rooklvn Cente r Exhibit 32 5UMMARY STATEMENT OF GENERAL FIXED ASSET5 December 31, 1973 Balance Year 1973 Balance January 1� 1973 Acquisitions Disposals December 31, 1973 309, 013 10, 619 319, 632 2. 731, 078 20, 591 2, 751, 669 1, 410, 426 26, 111 12, 132 1, 424, 405 146, 322 5, 248 151, 570 g99, 874 75, 925 24, 229 951, 570 7. 792, 531 731, 319 8 523. 850 13 289,244 $869.813 36,361 $14,122,696 605, 891 5, 400 600, 491 1, 319, 694 $108, 706 24, 229 1, 404, 171 304, 571 304, 571 320, 699 320, 699 7, 615, 351 731, 319 6, 732 8, 339, 938 177, 180 177, 180 2,250,000 2,250,000 265, 243 265, 243 38, 654 38, 654 198, 386 19g, 386 3, 000 3, 000 190,575 17,040 207,615 12. 748 12, 748 $13 $869,813 36,361 $14,122,696 -76- Exhibit 33 Citv of Brooklvn Center SUMMARY STATEMENT OF GENERAL LONG-TE.RM DEBT AND INTEREST (COMPARATIVE) December 31, 1973 and 1972 Current Year Prior Year Amount Available and to be Provided 1973 1972 Amourrt available in debt service funds (Exhibit 10): Park bonds 66, 767 33, 706 Library bonds 10, 022 8, 818 Building and improvement bonds 55, 937 40 199 State aid street bonds 6, 39� 6, 370 Certificates of indebtedness 11, 078 10. 533 Total Amount Available 150, 197 99, 626 Amount to be provided in future pe riod s( Exhibit 34): For interest $1, 71b, 363 $1, 986, 033 For principal 3, 630. 183 3, 808, 53? Total Amount to be Provided ,�5 346, 546 �5, 794, 570 Total Amount Avail able and to be Pravided ,�5 496, 743 �5 894, 196 G ene r al Debt and Inte re st to be Paid in Future Pe riod s( Exhibit 34) General debt (principal portion): Park bonds 135,000 155,000 Library bonds 110,000 120,OQp Building and improvement bonds 3, 125, 000 2, 235, 000 5tate aid street bonds 980, 000 1, 005, 000 Assessments on city properties (Note 8) 280, 183 293, 537 Total General Debt (Principal PortionXExhi.bit 34) ,�3 630, 183 $3, 808, 537 Tnterest payable in futuxe periods: Bonds (Exhibit 34) �1 866, 560 0$5, 659 Total Interest Pavable in Future Periods 866. 560 �2 085, 659 Total General Debt and Intere st to be Paid in Futuxe Periods ,�5, 496, 743 �5, 894, 196 (See notes to financial statements) This statement is an integral part of report dated June 26, 1974. 1 -77- General Debt Principal Portion Payment Total Building State Aid Assess�nents Due Principal Total Park Library Improvement Street Payable No Interest Durin� Interest Principal Bonds Bonds Bonds Bonds General Fund 1974 423, 550 214, 152 20, OOQ 10, 000 125, 000 25, 000 34, 152 1975 417,859 219,152 20,000 10,000 130,000 25,000 34,152 1976 445, 882 259, 152 20. 000 10, 000 I4Q, 000 55, 000 34, 152 1977 422,282 249>I52 20,000 10,000 13Q,000 55,000 34,152 197g 4I4, 332 254, 152 20, 000 10, 000 135, 000 55, OQO 34, I5Z I979 391,057 244,152 20,00� 10,000 125,000 55,000 34,152 1980 363, 363 229 152 I5, 000 10, 000 11 5, �QO 55, OQQ 34, 152 1981 3�0,404 2I8,150 10,Q00 120,000 �5,a00 33,150 1982 312,028 201,548 l0.OQ0 125,000 6Q,000 6,548 1983 299 ,631 201,42I 10,00Q 130,OOQ 60,000 1,421 0 000 135 000 60 OQO 1984 290,570 205,000 1 1985 267, 545 195, 4�0 135, (�00 6Q, OQO I 1986 259,840 200,000 140,000 6U,000 1987 246,765 200,000 14Q,000 60,000 I98$ 243,660 210,000 150,000 60,000 19s9 229,s�5 210,00o i5o,aoo 6o,aoo 1990 66,075 60,000 60,000 1991 62,025 60,000 60,000 Totals $5 4q6 743 $3, 63�, 183 $135, 000 $110, 000 $2, 125, 000 980, 000 $2€30, 183 (Exhibit 33) (Note 8) 5ee note s to financial statements This statement is an integral part of report dated June 26, 1974. -78 1 City of Brooklyn Center F'xhibit 3 4 SCHEDULE QF GENERAL LONG-TERM DEBT ANI� INTERE5T BY MA'�URITIES December 31, 1973 Inte re st Pavable Building State Aid Total Pa.rk Library Improvement Street Interest Bonds Bonds Bonds Bonds 209, 398 5, 585 4, 160 ],38, 125 61, 528 193, 707 4, 765 3, 790 130, OOQ 6Q, 152 1$6, 730 3, 945 3, 420 121, 550 57, 8L5 173, 130 3, 125 3, 04Q 112, 45Q 54, 515 160, 180 2, 305 2, 660 10�k, 000 51, 215 146, 905 1, 485 2, 280 95, 225 47, 915 134, 211 665 1, 900 87, 1Q0 �44, 546 122, 254 1, 520 79, 625 �41, 109 11Q, 480 1, 140 71, 825 37, 515 98, 210 760 63, 700 33, 750 85, 570 380 55, 250 29, 940 72, 545 46, 475 26, 070 59, 840 37, 704 22, 140 46, 765 2$, 600 18, 165 33, 660 19, 500 14, 16Q 1 19, 875 9, 750 1Q, 125 6, �75 6, 075 2 02 5 2 02 5 $l, 866, 56Q $21, 875 $25, 050 $1, 20Q, 875 $618, 760 (Exhibit 33) -79- Citv of Brooklvn Center NOTES TO FINANCIAL 5TATEMENTS Year1973 rants the Cit Council full authorit to control Note 1: The City Charter g y y 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 publication 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 side 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 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. Note 2: All Funds The "Combined Balance 5heet All Funds and Account Groupa (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 City. The financial position and results of operations of each fund should� be ascertained by reference to individual exhibits as submitted for that fund within this report. -80- C itv of B rookl.vn C ente r I NOTES TO FINANCIAL STATEMENTS Year 1973 Note 3; 5necial Assessment Funds I These funds are used to account for constructian and finaneing of public improvements such as streets, curbs, storm sewers, sanitary sewers a.nd the water system. The accounting is arranged so �hat the related activities of project construction, financing of construction and the assessment of costs to property owners are recorded withxn the sanne fund entity. Budgetary accounts are employed to provide a means of cantrol over expendi.tures 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 pro�ect expendttures are verified with the finance department. The nominal differences on street and sewer pro�ects between assessed and actual costs, which are caused when costs are spread over many properties, are guaranteed by the City. This amount is $93 for the year 1973. (See Exhibit 14. Note 4; Municipal Liquor Fund Merchandise inventories are valued at current wholesale prices and the amount o£ cash discounts and promotional discounts are takez� into income as a reduction of cost of sales during the year of purchase. This znethod of accounting for inven�ory and discounts facilitates the preparation of internal reports because it establishes a uni�orm basis of measuring gross profit margins. The uniformity of gross margi.n measure is necessary for purposes of good internal control. (Periodically, perpetual inventories are verified by count and gross xnargins 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, 1973 and 1972 (on Exhibit 16) are stated approximately $�.3, 000 and $16, 000, respectively, over actual cast. The effect on operating results as reflected for the Year 1973 on Exhibit l.9 is immaterial because of the of�setting effect between beginning o£ the year and end of the year invento ry. The Lyndale Avenue Store (Store #1) occupies space in Huxnboldt Square Shopping Center under terms of a lease which expires i.n 1978. The Brooklyn Boulevard Store (Store #2) is located on city-owned property. The lease for the Brookdale Shopping Center 5tore (Store #3) expired January 31, 1972 and operation at the location ha� been discontinued. Store #4 is located in the Northbrook 5hopping Center and the premises are occupied pursuant to terms of a lease which expires October 31, 1976. -8 1 Citv of $rooklvn Center NOTES TO FINANCIAL STATEMENT5 Year 1973 Public Utilities Fund Note 5: 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 1972 264, 894 1973 investment earnings 39.002 Total Investment Earnings 303 (Exhibit 20) Deduct: Construction expenditures thru 1972 635, 577 1973 construction expenditures 597, 150 Total Construction Expenditures 232. 72? Construction Account Balance (Exhibit 20) 71 169 Debt Retirement Account (Exhibit 20) Cash on hand with paying agent to redeem coupons and principal maturing 1 /1 /74 46, 679 Accumulated amounts set aside to meet 1974 requirements for interest and principal Cash 7 Investments with accrued interest 69 151 Reserve account investments 75, 000 Total Debt Retirement Account 190. 900 -82- Citv of Brooklvn Center NOTES TO FINANCIAL 5TATEMENTS Year 1973 t Note 5: Public Utilitie s 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 au�horizing the sale of revenue bonds is presented below: Revenue Construction Bond Reserve Account Account Accaunt Restricted Assets 12 /31 /73 71, 169 $115, 900 75, 000 Less: 1) Liabilitie s payable from restricted funds 46 679) 2) Unexpended bond proceeds -0- Restricted 5urpluses at 12/31 /73 71, 169 69. 221 75, 000 Investment plant expansion and related reserve Since 1963 the Public Utility Fund has been accumulating funds for the purpose of e.xpanding their investment in plant and equipment to 5upply water to the residents of the City. The present plan for expansi,on of facilities has a cost estimate of $6, 18�, 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, 466, 765 has been set aside or reserved to partially meet the financing requirements of this capita], budget. A plan for the systematic accumulatipn 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 curren� assets within the entity because they reduce the balance of retained earnings available for purposes of rate reduction or transfer. A portxon 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 whictz have been reinvested in plant (1973, $915,9$8; 1972, $905, 266) and those amounts held in Reserve 1973 $636 �.49; 1972, $510, 034) as funded depreciation. -83- City of Brooklyn Center NOTES TO FINANCIAL STATEMENTS Year 1973 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 rexnaining 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 (1973, $11, 858, 892; 1972, $11, 748, 567) would be reflected net of depreciation provisions at a total of (1973, $10,306,755; 1972, $10,333,267). Note 7: Public Utilities Fund Metro 5ewer 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 works 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 reimi�urse 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 5ewer 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 1973 consisted of principal and interest and the amount of credit offset against 1973 sewer service billings totaled $8, 741 leaving a balance due over the next 28 years of $230, 163. (Exhibit 20) -84- Citv of Brooklyn Center NOTES TO FINANCIAL STATEMENTS Year 1973 Note 7: Public Utilities Fund Metro Sewer Board Receivable and Reserves Cont'd In addition to providing for reixnbursement of facility costs the Act empowers the sewer board to defer certain reserve capacity costs when they are disproportionate to �he 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 (�65, 591, Exhibit 20) is collectible over the next five years. The current value receivabl� $230, 163, and the current year deferment charge, $65, 591, are restricted a5 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 bi�.lings over a period of thirty years (the term o� the current value receivable credit). The current year's amortization in the amount of $3, 285 has been applied as a reduction of Metro Sewer Board charges see E�hibit 24) and the ax�ount remaining to be amortized in future years is reflected on Exhibit 20 at the reznaining amount of 690 Note 8: Summarv Statement of General Lon�-•'�'erm Debt and Interest Special as�essments which relate to improvements benefiting City properties total $280, 183 as of December 31, 1973. The paymEnt for these improvements (with no interest charge) has been scheduled over a period extending through 1983, These assess- ments are obligations of the general fund and payment is planned under normal budget procedures, whereby the needed monies wi11 be appro- priated during the years as each installment becomes due. 85- City of B rooklyn C ente r NOTES TO FINANCIAL STATEMENTS Year 1973 t Note 9: Lib rarv Sale s 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 10: Pension Plans and Pension Funds The City contributes to three pension plans as follows: 1. Public Employees' Retirement Association, 1 2, Firemen's Relief Association, and 3. Police Pension Fund. 1 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 t 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 $98, 197 for the year 1973. 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 State, The City paid $52, 785 to the Association during the year 1973. The Police Pension Fund is administered b the Cit The Cit levies Y Y Y 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 $61, 534 for the year 1973. These notes are an inte ral ar of re a e J 6 g p t port d t d une 2, 1974. -86- 1 1 S T A T I S T I C A L I N F O R M A T I O N S E C T I O N 1965 Population 30 108 Real Probertv Assessed Value: Homestead 6, 101, 889 Excess and Non-Homestead 5. 694, 244 Total Assessed Value 11, 796, 133 Estimated Value: Full and True 38, 711, 130 Market $116, 133, 390 Personal Pronertv Assessed Value 1,258,488 Estimated Value: Full and True 3, 364, 504 Market 1Q,093,512 Total Real and Personal Propertv Assessed Value 13.054, 621 Estimated Full and True Value 42, 075, 634 Estimated Market Value $126. 226, 902 Ratio of Total Assessed Value to To�al, Estimated Full and True Value 31027:1 Estimated Market Value 10342:1 Per Capita Valuations Assessed Value 433.59 Estimated Full and True Value 1, 397. 49 1 Estimated Market Value 4, 192.47 -87- 5chedule l C itv of B r. ooklvn Cente r A5SESSED VALUE AND ESTIMATED TRUE VALUE AND MARKET VALUE OF ALL TAXABLE FROPERTY �v Bud�et Years 1966 1967 1 68 1 6 9 9 9 1970 1971 1972 1973 1974 31. 500 (E) 31, 570 (E) 31, 000 ;E) 34, 306 (E) 34, 717 (E) 35, 173 36, 370 (E) 36, 908 (E} 37, 207 (E) 6, 262, 938 6, 378, 859 10, 148, 539 (2) 11, 970, 877 (2) 12, 472, 359 (2) 6, 882, 636 15, 956, 478 (2) 52, 15Q, 596 (2) 53, 857, 283 (2) 5, 885, 425 7, 911, 159 5, 093, 781 (3) 7, 369. 710 (3) 8, 173, 952 (3) 19. 089. 306 10, 500, 479 (3) 36, 527, 538 (3) 40, 147, 670 3) 12, 148, 363 14, 290, 018 15. 242, 320 19, 340, 587 20 646 311 25, 971, 942 26. 456, 957 88, 678, 134 (4) 94, 00�, 953 39,765,314 45,335,857 47,862,541 58.283,382 61,796,482 75,340,288 76,641,045 $119,295,942 $136,007,571 $143,587,623 $174,850,146 $185.389.44b $226,020,864 $229,923.135 $249,328 $262,535,943 (1} fl) ll) 1, 222, 654 l, 301, 952 1, 574. 574 1, 603, 159 l. 619, 077 1, 588, 260 1, 313, 422 2, 403, 743 2, 657, 185 3.271.781 3,511,171 3,410.110 3,510,323 3,548,068 3,464,717 3,576,728 9,815,343 10,533,513 10,230,330 10,530,969 10,644,204 10,394,151 10,730,184 5,590,100 6.179.500 �1) �1) tj) �l) 13,371,017 15,591,970 16,816,894 20,943,746 22,265,388 27,560,202 27,770,379 91,081,877 96 43.037,095 48,847,028 51,272.651 61,793,705 65,344,550 78,805,005 80,217,773 $129.111,285 $146,541,084 $153,817,953 $185,381,115 �196,033,650 $236,415,015 $240,653,319 $254,9I8.765 $268,715.443 31069:1 31920:1 32799:1 33893:1 34074:1 34973:1 34619:1 10356:1 10640:1 10933:1 11298:1 11358;1 11658:1 11540:1 35730:1 35972:1 424.48 493. 89 509. 60 610. 50 641. 34 783. 56 763. 55 2, 467. 81 (4) 2. 597. 96 1.366.26 1,547.26 1,553.72 1.801.25 1.882.21 2,240.50 2,205.60 4, 098. ?7 4. 641. 78 4. 661. 15 5, 403. 75 5, 646. 61 6, 721. 49 6, 616. 81 6, 906. 87 7, 222, t7 Notes to Schedule (1) Includes $306, 708 exem t ro ert for re lacement tax ur oses authorized b laws of 1967 Cha ter 32 extra session P P P Y P P P Y p (2) Includes excess homestead 3) Exclude s exce s s home stead (4) Determination of assessed valuation calculation changed by state Iaw enacted in 1971; assessed value is now approximately three times as great as before the enactment of the new law. -88- Area School District County Year Voc-Tech #286 #279 #281 #11 Special Collectible ,Citv 5chool (Earle Brown) (Osseol (Robbinsdale)fAnoka) Districts t �1) �2) �3) (4) Tax Rates Mills Per $100 of Assessed Value 1954 40.30 163.80 76.70 75.40 87.56 59.66 1955 43. 40 172. 40 111. ?0 81. 80 81. 84 29. 57 1956 42.70 175.50 120.80 95.40 85.80 33.70 1957 44, 00 106. 60 119. 90 108. 64 96. 55 31. 87 1958 46.47 126 119 .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 49.80 215.26 195.50 154.72 144.7? 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 1969 50. 94 78 266, 63 252. 28 184. 57 265. 29 70. 00 1970 49.65 4.51 294.55 295.42 215.01 297.66 77.18 1971 44.11 7.96 250.31 216.00 204.90 257.09 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) Area Tax Levies on Propertv Within Brooklvn Center Year Voc-Tech Collectible School #286 #279 #281 #11 1954 176,165 14,335 31,718 11,203 1955 226,19g 27,256 39,251 12,538 1956 290, O11 36, 956 68, 649 15, 171 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 19b1 497,907 665,299 320,697 43,880 19b2 551 ,349 771,611 367 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 1970 99,033 1,375,490 2,071,747 1,689,434 719,896 1971 216,938 1,580,568 1,852,268 1,889,9b9 807,230 1972 255, 036 1, 190, 094 1, 436, 342 1, 387 686 555, 856 1973 240, 820 1, 273, 089 506 993 1, 317, 268 599, 411 1974 298,106 1,466,912 1,571,708 1,535,659 632,575 (1) Formerly #118 (2) Formerly #28 (3) Formerly #24 (4) Formerly #29, #220 -89- 1 Gitv of Brooklvn Center 5chedule II TAX RATES AND TAX LEVIES Years 1953 Throu�h 1q73 Total Citv, School, Countv and State N. H, S. 5tate Di�t. #2$6 Dist. #279 Dist. #281 Dist. #�1 N.H.S. H.S. (Earle Brown) (Osseo� (Robbin�dale) (Anoka) 9.54 5.28 243.30 156.20 154.90 167.06 9.15 3.93 254.52 193.82 163.92 163.96 9.15 3.98 261.05 �06.35 180.95 171.35 9.15 3.81 191.62 214.92 193.66 181.57 12.62 6.01 224.13 216.73 205.86 187.37 12. 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 8.31 333.20 298.82 Z68.92 245.29 17. 14 8. 22 345. 93 309. 95 270.41 255, 18 16.14 6.84 340.89 321.13 280.35 270.40 18.42 18.32 352.92 325.68 280.70 278.93 17. 24 17. 14 349. g 9 324 99 280. 75 281. 99 352.40 327.91 279.67 304.43 388.35 374.00 306.29 386.23 425.89 426.76 346.35 424.49 379.40 345.09 333 378 .22 317.11 299.96 281.07 297.17 100 162( 5) 98. 399( 5) 3$9. 103( 5) 96 652( 5) 104. 564( 5) 102. 393( 5) 98. 048( 5) 99 520( 5) County t Total 5pecial School Districts City State Total Citv, Schools, Countv State 233,421 82 ,946 74 ,169 12,765 403,301 305, 243 104, 114 95, 808 12, 651 517, 816 410, 787 136, 728 122, 573 16, 578 686, 666 511, 521 214, 395 207, 532 27, 859 961, 307 665,016 309,786 262,840 48,723 1,286,365 823,954 252,434 333,000 54,601 1,463 1, 183, 078 479, 907 404, 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, t08 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, ?21 2, 401, 225 779, 230 650, 137 153, 954 3, 984, 546 2, 526, 978 744, 231 690, 212 245, 668 4, 207, 089 2, 979, 841 828, 401 804, 858 268, 168 4, 881, 268 3, 286, 173 1, 069, 364 847, 632 5, 203, 169 4, 831, 887 1, 444, 592 1, 051 250 7, 327, 729 5, 955, 600 1, 694, 770 1, 090, 248 8, 740, 618 6,346,973 2,099,064 1,202 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 9b0 2, 799 819 1, 518, 562 9, 823, 341 (5) Due to determination of assessed valuation calculation changed by state law enacted in 1971, the resulting mill rate is approximately ane-third as great as before the enactment of the new law, -90- Schedule III �Citv of Brooklvn Center NOTES TO TAX RATES AND TAX LEVIES Years 19�4 Throu�h 1974 Tax Limitation by Statute: City Tax Levy pursuant to limitations of Laws of Minnesota 1973, Chapter 650, Article IV, Sections 5, 6& 7. Debt Service, certain special levies, and special assessxnents for local improvements nat included in above limitation. Taxe s Due Date; First Monday in January Taxes Delinquent Date: Personal Property March 1- amounts over $10, 00 first half March second half July 1 Real Estate fir�t half May 31; second half October 31 No discount allowed Penalties for Delinquency: (Amended, Laws 197�4, Chapter 459) Personal Property 8% Hoxnestead Real Estate June 3%, July August 5%, Septennber 6%, October 7%, Novembner and December 8%; after first Monday in January 10%. Non-Homestead Real Estate Tune 7 July 8%, August 9%, 5eptember 10%, October 11%, November and Deeember 1�%; After first Monday in January 14%. Tax sale date second Monday in May Taxes are certified to Hennepin County and collected by th� County Treasurer and remitted to the City. Tax collections are distributed in the proportion of the City levy to all levies. -91- Collections Percentage Collections of Current of Levy of Prior Total Year's Taxes Collect�d Years' Taxes Year Tax Duxing Fiscal During Fiscal During Fiscal C ollected� Levy Pe riod Pe riod Pe riod 1964 587, 636 573, 684 97. 62 8, 082 1965 643, 014 624, 056 97. 05 8, 186 1966 683,060 674,192 98.70 13,p69 1967 799, 79z 776, 663 97. 11 7, 710 1968 868, 807 851, 452 98. Op 14, 205 1969 1 068, 236 1, 036, 863 97. 06 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 9b, 219 1973 1, 353, 452 1, 302, 941 96. 27 19, 480 Note: The City's taxes are the oMly ones included in this table. 92 5chedule IV Citv 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 Levy Taxes Tax Levv 581, 766 9900:1 19, 926 03391:1 632, 242 9832:1 28, 985 04508:1 687, 261 1. 0062:1 23, 619 03458• .1 784, 373 9807:1 38, 737 04843:1 865, 657 9964:1 45, O11 05181:1 1, 053, 475 9862:1 59, 742 05593:1 1, 106, 797 9952:1 65, 026 05847 1, 134, 937 9267:1 30, 326 02476:1 1, 260, 131 1. 0543:1 48, 409 04050:1 1, 322, 421 9771: 1 42, 173 03116:1 1 -93- Gurxent Special Assessments Amount RatiQ of Installments Becoming Collected �urrent Fiscal Due During Currently During Gollections to Period the Fiscal F'eriod the Fiscal �'eriod Amount Due 1962 $418,706 $383,202 .9152 1963 460,329 418,657 .9095:1 196� 449,253 383 848 .85�4:1 1965 444 393 ,593 ,�845:1 1966 429,759 394,942 .919�:1 1967 490, 397 458, 324 93�6:1 1968 505,409 466,466 .9229:1 19b9 538,959 476,7z7 .8845:1 1970 680, 198 605, 385 8900: 1 1971 844, 933 660, 49Q 7$17:1 1972 8-07, 317 647, 695 8023:1 1973 787, 054 589, 500 7�q0:1 T Citv of Brooklyn Center 5chedule V SPECIAL ASSES5MEIVT GOLLEGTIC�NS La,st Twelve Years Total Current and Current Delinquent Pe rcentage Balance Assessments Uncollected Collected Uncollected At Year End Through 12 /31 Throu�h 12 /31 51, 692 98. 9644 4 336 73, 472 98. 4852 6, 973 119, 525 98. 3871 7, 246 136, 775 98. 1732 8, 129 135, 667 104.2224 (1 8, 146) 128, 705 9g 6715 1, 611 142 441 99. 6991 1, 521 136, 043 98. 5303 7, 921 165 592 99. 2329 5, 218 232, 717 94. 5798 45, 797 270, 543 93 4609 52, 791 312 177 74, 9000 197, 615 -95 Penaltie s and Interest Licenses Fines Fiscal From and and Period Fraperty Taxes Permits Forfeitures 1964 3,168 31,026 24,215 1965 6,489 48,757 22,724 1966 8,973 50,489 22,126 1967 12,297 55,005 20,416 1968 7,464 82,09$ 31,490 1969 b,296 77,773 44,031 1970 10,076 49,859 57,970 1971 31, 792 67, 837 53, 638 1972 17,471 110 455 37 1 2 t 7 1973 17,914 96,006 53,862 -96- Schedule VI Citv of Brooklvn Center REVENUES OTHER THAN PROPERTY TAXES AND SPECIAL A5SE5SMENT5 Last Ten Years Charges for Revenue in Excess Current of Expenditures Shared Services and other Public Liquor Taxe s Revenue Utilities Sto re s $101,578 $238,315 83,793 99,565 122,588 159,773 55,024 106,541 156,536 273,904 109,256 114,227 232,615 158,536 125,962 125,310 325, 221 196, 588 131, 280 146, 551 296,639 400,944 161,925 175,884 376,359 173,266 331,351 172,761 414,936 270,b07 276,935 168,406 612,277 285,669 278,089 133,972 669,556 277,512 527,510 123,316 1 -97- Schedule VII City of Brooklyn Center EXPENDITURES FOR SELEGTED FUNCTIONS Last Ten Years Public Parks Fiscal General Sa.fety and and Period Government Welfare Hi�hwavs Recreat�on 1964 169,019 230,102 293,301 175 ,049 1965 194,888 258,719 291,306 167,042 1966 218,335 290,232 306,616 310,219 1967 217,138 338,1$7 326,357 235,834 1968 2�44,010 391,394 359,42$ 235,723 1969 250, 841 449, 426 484, 154 238, O11 1970 279,404 511,462 407,615 337,106 1971 444, 061 648, 149 452, 245 481, 854 1972 496,377 588,607 463,321 478,385 1973 494,968 587,443 500,840 466,642 -98- Gross Fiscal Estimated Assessed Bonded Pe riod �opulation V alue Debt 1962 26, 858 29, 094, 342 5, 217, 400 1963 28, 203 33, 593, 520 5, 396, 100 1964 29, 024 35, 155, 290 5, 607, 800 1965 30,108 39,163,863 5,188,500 1966 31, 500 40, 113, 051 5, 263, 200 1967 31, 570 46, 775, 910 4, ?84, 800 1968 33,000 50,450,682 5,068,400 1969 34 ,306 62,831,238 7,626,400 1970 35 173 66, 796, 164 10, 733, 000 1971 36, 370 82, 680, 606 10, 005, OQO 1972 36,908 83,311,137 9,291,000 1973 37,102 91,081,877 9,224,000 =��Assessed value has been restated for years prior to 1973 so as to be on a basis com.parable to 1973. -99- Schedule VIII City of Brooklyn Center �ATIO OF NET BONDED DEBT TO ASSESSED VALUE AND NET BONDED DEBT PER CAPITA �.ast Twelve Years Less: Amount Ratio of Net Bonded Deb� to Net Bonded in Debt Net Bonded Assessed� Debt Per Servi�e Funds Debt Values Capita 2, 097, 219 3, 120, 181 1072:1 116. 17 920, 472 4, 475, 628 1332:1 158. 69 1, 031, 779 4, 576, 021 1302:1 157. 66 1, 591, 659 3, 596, 841 0918:1 119. 46 1, 499, 096 3, 764, 104 0938 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 0993:1 225. 78 1, 774, 258 7, 516, 742 0902:1 203. 66 2, 118, 269 7, 105, 731 0780:1 191. 52 1 -10�- Schedule IX Citv of B rooklvn C ente r STATEMENT OF LEGAL DEBT MARGIN December 31, 1973 Assessed value $96, 662, 138 Debt limit 6. 67°jo of assessed value 6, 447, 365 Total bonded debt $9, 224, 000 Deductions: 1. Debt Service Funds (General Obligation) 84, 457 2. Special Assessment Bonds 5, 119, 000 3, Utility Revenue Bonds 755, 000 5. 958, 457 Total Debt Applicable to Debt Limit 3, 265, 543 Le�al Debt Mar�in, December 31, 1973 3, 181, 822 1 -101- GrOSs Governmental Unit Debt Direct and Overlappin� Deb� Direct Debt: City of Brooklyn Center 9. 224, 000 Overlapping Debt: School Districts: No. 281 (Robbinsdale) 35, 483, 000 No. 11 (Anoka) 47, 272, 980 No, 279 (Osseo) 26, 161, 903 No. 286 (Brookl.yn Center) 2, 460, 000 Area Voc. Tech. Schoql: No. 287 24, 700, 000 Metro Transit 15, 800, 000 Metro Council 12�, 921, 000 Hennepin County: Park District 9, 425, 000 Buildings 17, 475, 000 Libraries 9, 375, 000 General Hospital 21, 000, 000 Total Overlappin� Debt $334, 073. 883 Total Direct and Overlappin� Debt $343, Z97, 883 i 1 1 a 1 _�02� 1 1 Schedule X Citv of B rooklvn Cente r COMPUTATION OF DIRECT AND OVERLAPPING DEBT Decembe r 31, 1973 Citv of Bropklvn Center Sinking Net 5hare Funds Debt Per Cent Amount 2,i5i,965 7,072 (1) ioo.00% �,072 4 208 21 31 274 079 10.20 0 3 18 56 ,9 9,9 3, 655, 624 43, 617, 356 5. 90 2, 573, 424 3,182,667 22,979,236 26.80 6,158,435 18, 430 2, 441, 570 100. 00 2, 441, 570 2, 242, 581 22� 457, 419 4. 90 1, 100, 414 1,834,194 13,965,806 1.50 209,487 16, 449, 271 108, 471, 729 1, 50 1, 627, 076 1, 435, 219 7, 989, 781 2. ?0 215, 724 1, 602, 948 15, 872, 052 2. 70 428, 545 663, 407 8, 711, 593 4. 80 418, 156 2.070,224 18,929.776 2.70 511,104 $37,363.486 $296,710,3q7 $18.873.891 $39.515,451 $303,782,432 $25,945,926 1) Includes $3, 189, 401 net debt out$�anding ta be paid from special assessments and $617, 091 net debt outstanding �n revenue bonds. t Direct Overlapping Comparative Net Debt Ratios Char�able to Citv Total Debt Debt Debt to assessed value ($96, 662, 138) 26. 84% 7. 32% 19. 52% Debt to market value ($268, 715, 443) 9. 65% 2. 63% 7. 02% Per capita debt (Population 37, 207) $697. 34 $190. 07 $507. 27 -103- Year Principal Interest 1964 33,300 13,855 1965 33,300 14,977 1966 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 2�8,351 1972 90,000 223,927 1973 165,000 219,101 1 -104- Schedule XI City of Brooklyn Center RATIO OF ANNUAL DEBT SERVICE EXPENDITURES FOR GENERAL BONDED DEBT TO TOTAL GENERAL EXPENDITURES Last Ten Yearg Total Total Ratio of Debt Debt General Service to Genera]. Service Expenditures Expenditures 47, 155 882, 557 5. 34 �o 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 12.7? 297, 151 2, 210, 671 13. 44 313, 927 2, 219, 355 14, 14 384, 101 2, 295, 308 16. 73 -105- Net G rp s s 1) Revenue Year Revenue Exp�ns�s AvaiJ.able 1964 638, 09� 239, 356 398, 738 1965 586,979 2g1,643 2q5,336 1966 753,829 269,371 484,458 1967 669,098 282 ,528 3$6 ,570 1968 743,316 29Z,818 450,498 1969 854,367 360,249 494,].18 1970 1,060,322 �00,824 6�9,498 1971 1, 140, 730 558, 18q �82, 541 1972 863, 111 447, F67 321, 106 1973 1,053,23$ 383,000 7Q0,2�8 (1) Ex�ludes depreciation and interest on bonds. -106- Schedule XII City of Brooklyn Center SCHEDULE OF REVENUE BOI�,'D COVERAGE t..ast Ten Years Ratzo of Net Debt Service Revenue to Principal Interest Total Delat Service 13, 000 43, 316 56, 316 7. 1 to 1 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, 30Q 7. 3 to 1 30, o00 3 i, 767 61, 76� 5. 2 to i 30, 000 30, 525 60, 525 11. 75 to 1 1 1 _1�7_ Schedule XIII Citv of Brooklvn Gentex MISCELLANEOUS STATTSTICAL FACT5 Decex�nber 31, 1973 Date of Incorporatipra February 14, 1911 Date of Adoption of City Charter iVovembex 8, 1966 Effective December 8, 1966 Form of Government Council Manager Fiscal Year Begins January 1 Area of City 8 1/2 square miles Ni1es of Streets: City 97. 94 State 12 3 8 County 5. 82 Miles of Storm Sewers 36.90 Number of 5treet Lights 825 Building Permits: Num.ber of Permits Issued: 1973 390 1972 708 1971 425 1970 404 1969 460 1968 544 1967 493 1966 430 1965 465 1950 1964 inclusive 9, 452 Estimated Cost; 1973 5,110,140 1972 $19,907.041 1971 8,487,763 1970 7, 499, 386 1969 0, 441, 322 1968 $13,111,654 1967 7,922,813 19b6 7,261,065 1965 $12,046,272 1950 1964 inclusive $94, 362, 2q8 Fire Protection: Number of Stations 2 Number of Volunteer Firemen 40 Police Protection: Number of Stations 1 Number of Employees 35 Vehicle Patrol Uni�s -108- Schedule XIII C ont' d City af $rooklvn Center MISCELLANEOUS STATISTICAL FAGTS December 31, 1973 Parks and Recreation: acres developed for regular use. 200 additional acres of City- owned land desi.gnated for parks and playgraunds to be develop�d. Full-time employe e s 14 Part-time employees 350 (seasonal) Supe rvi s ed playg round s 17 Park shelters 1? Ice skating rinks 17 Hockey xinks 6 Softball diaznonds �6 Baseball diamonds 5 Wading pools 2 Tennis courts 10 Basketball courts 6 Education: Public 5chools: School Districts within Brooklyn Center (4) No. 11 No. 286 No. 281 No. 279 (Anoka) (Earle Brown) (Robbinsdal.e) Qsseo Total school buildings 32 2 27 17 School buildings under construction 2 School buildings within Brooklyn Center 1 2 1 3 Total students registerEd 31, 339 2, 353 25, 610 13, 673 Students from Brooklyn Center registered 1, 541 2, 353 1, 630 4, 946 Total square miles in School District 172 2. 8 30 66 5 5quare miles within Brooklyn Center 1. 5 2. 8 2.25 2. 5 1973 assessed valuation 225, 578, 058 26, 467, 8�7 327, Q23, 247 121, 851, 330 1973 assessed valuation in Brooklyn Center 11, 879 556 26, 467, 847 29, 983, 346 28, 609, 716 Parochial Schools (1) St. Alphonsus 5chool (grades 4-8) Total students registered 240 -109- Schedule XTII �ont'd City of B rooklvn Cente r MISCELLANEOUS 5TATI5TIG�,L FACTS December 31, 1973 Municipal Water Plar�t: Number of connections 6, 715 Average daily consumption 3, 02Q, 465 gall.ons Peak daily consumptian 8, 945, 000 gal�ans Plant capacity daily 12, 384, 000 gallvns Miles of water mains 1Q2. �4273 Numbe r of fi re hyd rants 752 Number of wells 7 Number of elevated reservoirs 2 Storage capacity 1, 500, 000 gallons Water rate per thousand gallons 35� Municipal Sewe r Plant: Number of connections 7, $04 Miles of sanitary sewer 96, 4125 Average daily disposal 2, 790, 000 gallons Daily disposal capacity 7, 416, 000 gallons Numbe r of lift stations 9 Residential rate $8. 75 per quaxter Municipal Liquor Stores (Off Sale); Number of owned stores 1 Number of leased stores 2 1973 sales $1,46$, l,3$,00 City Employees: As of December 31, 197� Permanent or regular 108 Temporary or part-time 130 Total �38 Elections: General election 1972 19, 142 Number of votes cast in general election 14, $07 Percentage of registered voters voting 77, 4% Registered voters last state election 15, 0$0 Number of votes cast last s�ate e�.�ction 10 96� Percentage of registered voters voting �2, 7� Population: 1940 1,870 1950 284 1960 24,356 1965 (special census) 30, 108 1970 35, 173 1973 37,207 Estimated residential saturation point 49, 000 -11Q-