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HomeMy WebLinkAboutAnnual Audited Financial Report-1972 ANNUAL AUDITED FINANCIAL REPORT of the CITY MANAGER of BROOKLYN CENTER, MINNESOTA For The Year Ended December 31, 1972 I DONALD G. POSS, CITY MANAGER 1 1 Prepared by THE DEPARTMENT Of FINANCE Paul W. Holmlund, Direttor (Member of Municipal Finance Officers Associotion of the United States and Canada) Citv of Brooklyn Center ANNUAL FINANCIAL REPORT For the Year Ended December 31, 1972 TABLE OF CONTENTS Exhibit Page Number Number Certificate of Conformance 1, 2 Listing of City Officials 3, 4 Organization Chart 5 Location of City Properties 6 Letter of T ransmittal 1 General Comments 8, 9, 10, 11, 12, 13 Financial Statements 5ection Audito r' s Repo rt 14 Combined Balance Sheet All Funds and Account Groups (Condensed Form) December 31, 1972 1 15, 16 General Fund Statements Balance Sheet (Comparative) December 31, 1972 and 1971 2 17 Statement of Changes in Fund Balance (Comparative) Years Ended December 31, 1972 and 1971 3 18 r Statement of Revenues, Appropriations from Fund Balance, Expenditures, Encumbrances and Transfers Years Ended December 31, 1972 and 1971 4 19 Statement of Revenue Budget and Actual Objective Classification Year 1972 Sched. 4-A 2�, 21 Statement of Expenditures and Encumbrances Budget and Actual Classified as to Activity, Character and Object Year 1972 5ched. 4-I3 22, 23, 24, 25 C ity of B rooklvn C ente r ANNUAL FINANCIAL REPORT For the Year Ended December 31, 1972 TABLE OF CONTENTS Exhibit Page Numbe r Nurnbe r Special Revenue Funds 5tatements Combined Balance Sheet (Comparative), December 31, 1972 and 1971 5 26, 27 Cornbined Analysis of Changes in Fund Balance Years 1972 and 1971 6 28, 29 Combined Staterr� nt of Revenue and Expenditures (Comparative) -Years 1972 and 1971 7 30, 31 Capital Prajects Fund Staternents �ombined Balance Sheet (Compaxative) December 31, 1972 and 1971 8 32, 33 Combined Statement of Appropriations and Expenditures Years 1972 and 1971 9 34, 35 Debt Service Funds Statements Cornbined Balance 5heet (Comparative) December 31, 1972 and 1971 10 36, 37 Combined 5tatement of Revenue, Expenditures and Surplus Years 1972 and 1971 11 38, 39 Special Assessment Funds Stater�ents Combined Balance Sheet (Comparat:ive) December 31, 1972 and 1971 12 40, 41 r Combined Statement of Revenue, Expenditures and Unappropriated Surplus for Debt Retire- ment (Comparative) Years 1972 and 1971 13 42, 43 Statement of Construction Expenditures, Compared to Appropriations and Assessment of Costs Year 1972 14 44, 45, 46 Citv of Brooklyn Center r ANNUAL FINANCIAL R.EPORT For the Year Ended December 31, 1972 TABLE OF CONTENT5 Exhibit Page Numbe r Numbe r Special Assessment Funds Statements, Cont'd Statement of Long-Term Debt (Principal Ampunt Outstanding) December 31, 1972 15 47, 48 Public Service and Enterprise Funds Statements Municipal Liquor Fund Balance Sheet (Comparative December 3�, 1 1972 and 1971 16 49 50 Analysis of Changes in Surplus (Comparative) Years 1972 and 1971 17 51 Statement of Changes in Financial Position (Comparative) Years 1972 and 1971 18 52 5tatement of Income and Expense (Comparative) Years 1972 and 1971 19 53, 54 Public Utilities Fund Comparative Balance Sheet Decembe r 31 1972 and 1971 20 55, 56 Comparative Statement of Changes in F:inancial Position Years 1972 and 1971 21 57 Comparative Statement of Ope rations and Retained Earnings Year 1972 and 1971 22 58 Comparative Water Department Uperating Expenses Years 1972 and 1971 23 59, 60 Comparative Sewer Department Operating Expenses Years 1972 and 1971 24 61, 62 Summary Statement of Plant and Property and Provisions for De�reciation December 31, 1972 25 63, 64 Statement of Revenue Bonds Payable December 31, 1972 26 65, 66 City of Brooklyn Center ANNUAL FINANCIAL REPORT For the Year Ended December 31> 1972 TABLE OF CONTENTS Exhibit Pa ge Numbe r Numbe r Public Service and Enterprise Funds Statements, Cont'd Transit Fund Balance Sheet (Comparative) December 31, 1972 and 1971 27 67 Combined Statement of Revenue, Expend.itures and Surplus (Comparative) Years 1972 and 1971 28 68 Trust and A�ency Funds Statements Combined Balance Sheet (Comparative) December 31, 1972 and 1971 29 69, 70 Combined Statement of Revenue, Ex enditures P and Fund Balance (Comparative) Years 1972 and 1971 30 71, 72 Inve stment T ru st Fund Balance Sheet (Comparative) December 31, 1972 and 1971 31 73, 74 5tatement of Earnings (Comparative) Years 1972 and 1971 32 75 Changes in Participating Fund Balances Year 1972 33 76 General Fixed Assets and General Lon�-Term Debt Summar Statement of General Fixed Assets Y December 31, 1972 34 77, 78 Summary Statement of Gene ral Long- Te rm Debt and Interest (Comparative) December 31, 1972 and 1971 35 79 Schedule of General Long-Term Debt and Interest by Maturities December 31, 1972 36 80, 81 City of Brooklyn Center ANNUAL FINANCIAL REPORT For the Year Ended Decembe r 31 1972 t TABLE OF CONTENTS Page Numbe r Notes to Financial Statements No�e T All Funds 82 Note 2 All Funds 82 Note 3 5pecial Assessment Funds 83 Note 4 Municipal Liquor Fund 83 Note 5 Public Uta.litie s Fund 84, 8 5 Note 6 Public Utilities Fund 85, 86 Note 7 Public Utilities Fund 86, 87 Note 8 Summary Statement of General Lon�-Term Debt and Interest 87 Citv of Brooklyn Center ANNUAL FINANCIAL REPORT For the Year Ended December 31, 1972 TABLE OF CONTENT5 Pa ge Schedule Numbe r Statistical Information 5ection Assessed Value and Estimated True Value and Market Value of All Taxable Property by Budge� Years I 88, 89 Tax Ra�es and Tax Levies Years 1954 Through 1973 II 90, 91 Note s to Tax Rate s and Tax Levies Years 19 `�4 Through 1973 III 92 Tax Levies and Tax Collections Last Ten Years IV 9�, 94 Special Assessments Collections Last Twelve Years V 95, 96 Revenues Other Than Property Taxes and Special Assessments Last Ten Years VI 9'7, 98 Expenditures for Selected Functions Last Ten Years VII 99 Ratio of Net Bonded Debt to Assessed Value and Net Bonded Debt Per Capita Last Eleven Years VIII 100, 101 Statexnent of Legal Debt Margin, December 31, 1972 IX 102 Computation of Direct and Overla in Debt PP g December 31, 1972 X 103 Ratio of Annual Debt Service Ex enditures for P General Bonded Debt to Total General Expenditures Last Ten Years XI 104, 105 Schedule of Revenue Bond Coverage Last Ten Years XII 106, 107 Miscellaneous 5tatistical Facts December 31, 1972 X�TI 1Q8, 109, 110 THE MUNICIPAL FINANCE OFFICERS ASSOCIATION OF THE UNITED STATES AND CANADA dc�fic�c t�j� TH£ ANNUAL FINANCIAL REPORT OF `-1��e Cit of Brookl n enter .Minnes ta y C �or the Year. �nded December 31, �966 SUBSTANTIALLY CONFORMS �TO THE PRINCIPLES AND STANDARDS OF PUBLIC FINANCIAL REPORTING AS PROMULGATED BY THE f�unici�ai ,�inattcc �ffucrg S�ggociation AND TNE �atfoaar �Conttnitttt o� iobtrnmtnta�. �uount[ng Presenced September 1�j, 1y67. C�rinwo�, Co�tswnes os Accasw�ia� I Li� Es«Niss Dinca► r r r CIT Y OF BROOKLYN CENTER, MINNE50TA CERTIFICATE OF CONFORMANCE (Jn September 19, 1967, the MUNICiPAL FINAI�CE OFFiCER� A5SOCIATION 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, 19b6 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 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, 1972 continues to conform substantially to such standards. DEPARTMENT OF FINANCE CITY OF BROOKLYN CENTER Ci�y qf Broo�Clvn Center LISTING OF CITY OFFICIALS For the Year Ended December 31, 197? Elected Officials Term of Office Term Expires Mayor Philip Cohen Two Years 12-31-73 Councilman Howard Heck Three Years 12-3I-72 Councilman John Leary Three Years 12-31-73 Couneilman Vernon Ausen Three Years 12-31-72 Cpuncilxnan Maurice Britts Three Years 12-31-74 Officials Not Elected C ity Manag� r ponald G. Po s s City Clsrk Allen S. Lindman C�ty T re�.sure r Pau1 W. Holmlund City Attorr�ey Richard Schieffer Adr�,iM�,�txativE Assistant A. Blair Tremere Adrnlnistrative Assistant Daniel Hartman Departmer�t Heads: Finance Paul W Holmlund Public Works James Merila Police Thomas G. O'Heh.ir Fire Donald Mason Protective Inspection Jean R. Murphey FarkS and Recreation Eugene Hagel Assessment John Nordberg Liquor Stores Truman Nelson Street Superint�ndent Henry Davis Public Utilities SuperiMtendent Frank Smith, Jr. Recreation Superintendent Arnold Mavis Ass�stant City Engineer Gerald Butcher Health Officer R. I, Shragg, M. D. Fire Marshall Robert Cashman Sanitarian Martin W:inston 1 -3- Citv of Brooklyn Center I.�I5TING OF CITY OFFICIALS At June 30, 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 Maurxce Britts Three Years 12-31-74 Councilman Tony Kuefler Three Years 12-31-75 Councilman Bill Fignar Three Years 12-31-75 Officials Not Elected City Manager ponald G, Poss City Clerl� Allen S. Lindman City Treasurer Paul W. Holmlund City Attorney Richard Schieffer Administrative Assistant, Daniel Hartman Departxnent Heads; Finance Paul W. Holmlund Public Works James Merila Police Thomas G. O'Hehir Fire Donald Mason Pratectzve Inspection A. Blair Tremere Parks and Recreation Eugene Hagel As se s srnent John No rdbe rg Liquor 5tores Truman Nelson Street Superintendent Henry Davis Public Utilities Supe rintendent F rank Smith, J r, Recreation Superintendent Arnold Mavis Health Officer R. I, Shragg, M. D, Fire Marshall Donald Mason Sanitarian Martin Winston Civil Defense Coordinator James Lindsay -4- ORGANIZATION CHART COUNCIL MAI�TAGER PLAN City of Brooklyn Center, Minnesota CHARTER CQMMISSION ELECTORATE ADVISORY Capital Improvement Review Bd. ADVISORY CITY COUNCIL Conservation Commission ADVISORY Human Rights Commission CITY ATTORNEY �i ADVISORY City Manager Administrative Aasistant Youth Advisor Commission Y City CJ_erk Purchasing Officer ADVISORY v� Park and Recreation Commission ADVISORY Administrative Assistants Planning Commission i Civil Defense il 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 Department Department Treasurer Department City Engineer i I I I P�.trol Administrative Detective Engineering Street Public Division Division Division Division Division Utilities I Division r r �iq�� M�n �u u�Tw �I I 1 �I���� .N...�.. '1� __I_ .l� 1 d1,•�„���:� NH �xu� i,G� iS 0 ��1�� 1 Z� 1 2� �y e�:. -T���i�'� 1 �1-:1:=�=:r�...:i...... i.. T;- w iu 7u i� C 7S i�l N l��4 I�h S_ 77 wu�rem 1_�� ui iu ia�( r ��h�.�i La 1 :�I.B nwx�m �1' �C �W (NM1� S �u �u uN� J v f-.�l�i =sM�� '�y ���r2-��'a_:�'e:: �-I r.e= i==�==�ri r s� i •�/j� /i,- xa1�„ :r �T` ?a I �+_n.nn I n! �'���'�r ��'���:���:���'�I� ���'v%-��:'��-� �J3� `,�,-,�f -����.�g� ;i' ���}N I"�s uway a c 1 1 1 1 l���ll� mm....rx..«w�� .�i' �I Nry�H ��i i N T.:� J' t w _t A1 i{�! N1N\h �xuawr���w►��� s 1 3z 'O• ���r•���wM�.MNN✓ 1 L� 1 n u�� ia��l�m�'s�. o I��' u �T i I t• �1-�+-'y �M I 1 i N�'�. i I I -I j I;� .a ax��':8���_'-_,� ��II�� u`�y�N�,: l.��� �AnT x�M� Si ii Si i t Mrx�w�ti����►O �i :ua.nu:rn�lu��u,Nr��� �d�� j j' 7�u� ���G �e 1 nM�H�f r ��Si I \U. .�nm� 1 i =_I��=E N'n,x�x� r ���j;.. s_ i N o y d�%�� �.s�s �1'i =e �'s is 'Na` _I �///ii: ..�IL� �7�' �CI /i/-. ���1��1��.�'��I f w'� �--F 'r=' �S �e�� s�x a�-� e �'rIl����I� az='C �1�'�' I�i_:===.:.����_��� w� .�w�ne xa N =m I '��i_:a_���:� ��n 's i B i �i r ��5� �nm�9 �,Q. L� =s'�- I_ "N:��'/ j' i� a '1 j ��•�r� e��� 'T= �i� ��'`j�`��`% f�=,=� a� �s= �a. �aqG R j �x �xx�N`. 3� i2 :l�i ii x nnxxxnu� �ai 1 nwM %n.:- i� �i i ��nii. �il j -�i.:' =�=%a ..::T==,::� �"=�a=��::1_�I=�=1 �1== `===,sc,.l_����,���,::,��� i —1��� ��li L I a� I I i �1 �Y� w i i I i i C OF Y ADMINISTRATIVE OFFICE OOKLYN 6301 SHINGLE CREEK PARKWAY BROOKLYN CENTER, MINNESOTA 55430 �i C ENTI,JR, TELEPHONE 561-5440 nniNNeaPO�.is juriE 30 I973 To the Mayor and Council City of Brooklyn Center, Minnesota Gentlemen: Sectior� 7. 12 of the City Charter requires the City Manager tp sub.'nit an audited report to the Council covering the entire financial o erations of the City for the p�st year on or before the P last day of June. A summary of that report shall be published in the official city newspaper on or b�fore July 31 of each year. The annual audite� financial report of the City for the year ended pecemb�r 31, 1972, prepared by the Department of Finance under my general supervision, is submitted for your consideration. The summary of the rep�rt will be published in the Brooklyn Center Post on July 26, 1973. e ,,,.-�R"espl ctfully su �t�e�, ,r `7 P V __�;;,-/�!-�?-o% Donald G. Poss City Manager -7- ��u� faz �l� City of Brooklyn Center GENERAL COMMENTS Organization Brooklyn Center was incorporated as a Village on February 14, 1911, and becaxne 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 l.arge. 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 rovide such information about the finances of the City as the Council may P require. The offices of City Clerk and City Treasurer are subordinate to and a ointcd b the Cit Mana er. The Cit Clerk has duties in connection with PP Y Y g Y 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 i 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. i _g_ City of Brooklyn Center GENERAL CONTMENTS Financial Control and the Bud�et The City Gharter 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 budget as specified in the budget resolution. Upon adoption of the annual budget resolution b the Council it becomes the formal bud et for Ci y g ty operations. After the budget resolu�ion is adopted, the Council can increase the budget only if actual receipts exceed the estimates or from accumulated surplus in the amount of an unexpended appropriation £rom the previous fiscal year. Financial reports, which compare actual performance with the budget are prepared monthly and presented to the Counci,l 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 comxnercial 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 1972 follows: -9- City of Brooklyn Center GENERAL COMMENTS Financial Control, Cont'd Proposed Expenditures (Public Service Enterprises Excluded) City operations (General Fund) $2, 060, 522 Debt Redemption Fund 236, 100 Public Employees' Retirement Fund 70, 000 Policemen's Pension Fund 58, 923 Poor Relief Fund 37, OOfJ Firemen's Relief Association 32, 038 E ur s Total Proposed xnendit e $2, 494. 583 i Proposed Source of Financin� T'axation see summary of taxation presented below) $1, 194; 209 Shared taxes state and federal) 599 199 Governmental grants 6, 000 Civil Defense reimbursements 4, 567 Local revenue s: Recreation fees $178, 503 Liquor stores 155, 000 Permits, penalties, licenses and fine s 152, 700 Service and other revenues 48, 000 Engineering and clerical fees 30, 000 Services to public utilities 10, 600 Rent 7, 000 581, 803 Fund Transfe rs: General £und transfers 81, 407 Liquor fund transfers 27, 398 108, 805 Total Proposed Financin� $2, 494, 583 -10- CitV of Brooklyn Center GENERAL COMMENTS Financial Control, Cont'd Ad valorem tax levies for the current year 1972 and for the two previous years (1971 and 1970) are summarized and presented below: 1 9 7 2 1 9 7 1 I q 7 0 Mill Rate Amount Mill Rate Amount Mill Rate Amount Tax Levy City operations 27. 94 775, 848 29. 61 821, 662 25. 98 581, 897 Debt redemption funds 7, 94 220, 400 7. 50 208, 174 12. 72 284, 733 Public employee s' retirement fund 2, 53 70, 000 2. 58 71, 500 00 67, 000 Policemeris pension fund 2. 13 58, 923 2. 43 67, 600 2. 73 61, 000 Poor relief fund 1. 34 37, 000 49 13, 500 36 8, 000 Firemen's relief association 1. 16 32, 038 1. 50 41, 596 1. 95 43, 496 Capital projects fund 2.91 65,000 Total Levy 43. 04 $1, 194, 209 44. 11 $1, 224, 032 49. 65 $l, 111, 126 1972 1971 1970 Assessed Valuation Real estate $26, 456, 957 $25, 971, 942 $20, 639, 880 Non- exempt pe r s onal property l, 313, 422 1, 281, 552 1, 303, 029 Exempt personal property 306, 708 306, 708 Total Assessed Valuation $27, 770, 379 $27, 560, 202 $22, 249, 617 The omnibus tax law of 1971 elixninated the replacement tax based on exempted personal property. For this reason exempted personal property is not shown for 1972 in the above summary of assessed valuation. The financial condition of each fund as of December 31, 1972 a.nd the results of each fund's o erat:ions for the ear to ether with a com arison of these results P Y g P r CitY of B rooklvn C ente r GENERAL COMMENTS Financial Control, Cont'd to budget estimates and a comparison to the previous years' results, is presented within the financial statements section of this report. The City carries surety bonds on the positions of: City Manager, Clerk, Treasurer, Assessor, Deputy Assessor, Liquor Store Manager, and Assistant Manager. In addition, the City is covered by an Honesty Blanket Fosa:tion Bond on all other r.ity employees. Gene ral Ope rations The City, in addition to the usual activities such as: general govez�nment, public safety and welfare, highways, recreation and parks; o erates three off-sale 1i uor stores and ublic sewer and water utilities. R q p N�t revenues produced in excess of working capital requirexnents by municipal liquor store operations have been used toward� financing current ex ense and ca ital outla ro ra s of the Ci General Fund p P Y P g� tY The net revenues of the sewer and water utilities have been retained withian 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 grqups or funds as required by statute and/or good accoun�ing practice. Except �or minor variances, all funds are maintained on an accrual basis and in conformity with generally accepted accounting principles applicable to governmental entities as set forth by the National Committee On Governmental Accountin�. -12- Cit of Brookl n Center V V GENERAL COMMENTS Accounting System, Cont'd The accounts of the City are classified in conformance with classifi- cations prescribed by the Public Examiner s office (Classification of Accounts for Use by Fiscal Officers in Cities and Villa�es 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 s�ssociation 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 xnaintaining internal control, and preparing financial and budgetary reports is delegated to this department. r �r t -13- F I N A N C I A L S T A T E M E N T S 5 E C T I O N 4 MOEN AND PENTTILA CERTIFIEDPUBLICACCOUNTANTS SUITE 203 VALLEY SOUTH BUILDING MeMeER oF 69'30 WAYZATA BOULEVARD 812 546•3306 AMERICAN INSTITUTE OF ACCOUNTANTS MINNEAPOLIS. MINNESOTA 55426 Honorable City Council City of Brooklyn Center We have examined the financial statements and su lementar PP Y schedules of the various funds and account groups of the City of Brooklyn Center for the year ended December 31, 1972 as listed in the foregoing table of contents. Our examination was made in accordance with generally accepted auditing standards, and accordingly, included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances. In our opinion, such financial statements and related supplementary schedules present fairly the financial position of the various funds and account groups of the City of Brooklyn Center at December 31, 1972, 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. Res ectful ubmitted P �,�va.� �.����-a-' Oiva Penttila Certified Public Accountant MOEN PENTTILA Field work completed July 6, 1973 Report signed June 29, 1973 -14- C ombined Total Note 2 Assets and Resources Cash on hand and in depositories 152, 153 Temporary investments 5, 787, 322 Accounts receivable 124, 149 Taxes receivable 80, 036 Due from other funds b92� 905 Due from other governmental units 120, 444 Inventories and supplies 182, 862 Work orders /construction in progress 8, 298 Contracts receivable 72, 753 Accrued revenue 234,143 Receivable appropriated funds 303, 747 Monies on deposit State of Minnesota 53, 925 Special a.ssessment receivables 5, 121, 702 Securiti�s held for investments 5, 495 999 Prepaid expenses and deferred charges 65, 550 Fixed assets (net of depreciation where applicable) 23, 656, 920 r Unassessed construction 443, 119 Amount available gene ra1 debt and inte re st 99 62 6 Amount to be provided general debt and interest 5, 794, 570 Uncollected dedicated funds 89, 000 Totals $48, 579, 223 Liabilitie s Vouchers and accounts payable 167, 570 Accrued sales tax 6 499 Accrued expenses 105, 383 Contracts payable 151, 193 Assessments payable 293, 537 Due to other funds 692, 905 Temporary construction loans 1, 132, 000 Bonds payable 9, 291, 000 Customer and contractor deposits 294 997 Due funds participating in investment trust fund 5, 434, 728 Interest payable in future years (general debt) 2, 085 659 Total Liabilities $19, 655, 471 Surplus, Reserves and Fund Balances Surplus and revenues set aside 2, 415, 605 Contributed surplus 9, 549, 516 Investment in general fixed assets 13, 289, 244 Unexpended appropriations, authorizations and balances 3 669 387 Total Surplus, Reserves and Fund Balances $28, 923, 752 Totals $48. 579, 223 -15- C ity of B rooklvn Cente r Exhibit 1 COMBINED BALANCE 5HEET ALL FUND5 AND ACCOUNT GROUP5 (CONDENSED FORM) December 31, 1972 Special Capital Debt Special Municipal Public General General Debt General Revenue Projects Service Assessment Liquor Utilities Transit Agency Investment Fixed Assets and Fund Funds Funds Funds Funds Fund Fund Fund Funds Trust Fund Group Interest Group Exhibit 2) Exhibit 5� Exhibit 8) Exhibit 10) Exhibit 12 Exhibit 16) Exhibit 2 0) Exhibit 2 7) Exhibit 29 Exhibit 31 Exhibit 34) Fxhibit 3 5) 45, 953 19 2, 081) 318 4, 662 41, 851 13, 376 -0- 30, 460 17, 595 il 63, 414 163, 574 1, 686, 504 80, 283 1, 840, 500 1, 446 1, 532, 487 -0- 419, 114 7, 677 27 149 2, 929 86 394 53 956 1, 475 1, 931 12, 786 9, 888 200,209 20,029 6 ,239, 269 ,072 2,071 191,830 3,455 4, 733 87, 525 2 8, 186 t 12, 794 170,_068 I 8, 298 72, 753 3, 638 69, 069 5, 551 155, $85 303, 747 53, 925 5, 033, 902 87, 800 187,176 5,308,823 33, 280 3, 420 28, 850 34,409 10,333,267 $13,289,244 443, 119 99, 626 5 794, �70 89,000 $3q7, 034 $241, 459 $1, 936, 833 99, 626 $7, 651, 684 $256, 194 $12, 862, 182 -0- $468, 468 $5, 482, 303 $13, 289, 244 $5, 894, 196 81,074 1,120 3,371 43 59,142 13,834 8,986 6, 499 98,043 3,210 4,130 77, 512 71, 332 2, 349 293, 537 14,129 -0- 314,579 237,494 110,128 13,860 2,715 1,132,000 4, 991, 000 785, 000 3, 515, 000 247,422 47,575 5, 434, 728 2,085,659 95, 203 1, 120 395, 462 $6, 529, 912 $178 979 $l, 066, 595 -Q- 11, 701 $5, 482, 303 $5, 894, 196 i $�1, 410 221, 802 58, 257 $2, 114, 136 9,549,516 $13, 289, 244 280, 421 �$240, 339 1, 319, 569 99, 626 1, 063, 515 77, 215 131, 935 $456, 767 $301, 831 $240, 339 $1. 541, 371 99, 626 $1, 121, 772 77, 215 $11, 795, 587 -0- $45b, 767 $13, 289, 244 $39�34_ $�59 $1. 93f��3 �_94- 65�R4 notes f nanc al stateme ts) �46£�_ 46� ,�5• 482- 3O3 $13• 2��iq_2� �5• 89�4. l�f� This statement is an integral part of report dated July 6, 1973. -16- Citv of B rooklvn C ente r Exhibit 2 General Fund BALANCE SHEET (CO1vIPARATIVE) December 31, 1972 and 1971 December 31, ASSETS 1972 1971 Assets Cash on hand and in depositories 45, 953 36 990 Temporary investments 63, 414 114, 070 Accounts receivable 7, 677 3, 462 Taxes receivable 53, 956 97, 930 Due from other funds 200, 209 135, 849 Due from other governmental units 4, 733 9, ?00 Inventory of supplies 12, 794 10, 216 Work orders in progress to be billed 8, 298 503 Expenditures deferred to 1972 budget 2, 073 Total $397 03 4 $410, 793 LIABILITIES, RESERVES AND FUND BALANCE Liabilitie s Vouchers payable 64, 254 59, 296 Payroll taxes and employee withholdings 16, 820 27, 737 Due to other funds 14, 129 16, 114 Total Liabilities 95, 203 $103, 147 Reserves Reserve for encumbrances 8, 086 7, 006 Reserve for inventories, petty cash and change funds 13, 324 10, 736 Total Reserves 21, 410 17, 742 Fund Balance Appropriated 33, 497 8I, 407 Available for appropriation 246, 924 208, 497 Total Fund Balance (5ee Exhibit 3) $280, 421 $289� 904 Total $397, 034 $410, 793 (See notes to financial statements) This statement is an integral part of report dated July 6, 1973 1 -17- Exhibit 3 City�of Brooklyn Center General Fund STATEMENT OF CHANGES IN FUND BALANCE (COMPAR.�ITIVE1 For Years Ended December 31, 1972 1971 Actual Actual 1972 1971 Fund Balance January 1 $289, 904 $465, 755 Add: Revenue (See Exhibit 4) $1, 840, 308 $1, 660, 710 Transfers in (See Exhibit 4) 182, 398 203, 521 Decrease in reserves for inventory and change funds 2 467 Total Additions $2, 022, ?06 $1, 866, $98 D�duct: Expenditures and encumbrances (5ee Exhibit 4j $2, 026, 690 $2, 026, 309 Transfers out (See Exhibit 4) 2 911 16 440 Increase in reserves ,for inventory and change funds 2, 588 Total Deductions $2, 032, 189 $2, 042, 749 Fund Balance December 31 (To Exhibit 2) 280, 421 289, 904 (See notes to financial statements) This statement is an integral part of report dated July 6, 1973. t -18- Exhibit 4 Citv of Brooklyn Center General Fund STATEMENT OF REVENUES, APPROPRIATIONS FROM FUND BALANCE, EXPENDITURES, ENCUMBRANCES AND TRANSFERS For Years Ended December 31, 1972 and 1971 1972 1972 Over(Under) Actual Prior Fihal Bud�et Actual Bud�et Year Revenues (See 5chedule 4-A) Taxes advalorem 786, 348 793, 375 7, 027 853, 584 Shared taxes 599, 199 612, 277 13, 078 414, 936 Charges for services 194, 603 201, 026 6, 423 153, 443 Inter-Fund charges 40, 600 54, 957 14, 557 78, 153 Licenses and permits 82, 200 110, 455 28, 255 67, 837 Court fines 60, 000 37, 172 22, 828) 53, 638 Other income 49, 555 31, 046 18, 509) 39, 119 Total Revenues $1, 812, 505 $1, 840,3Q8 27, 803 $1, 660, 710 Transfers from other funds 182, 398 182, 398 203, 521 Appropriations from fund balance 81, 407 81, 407 259� 349 Total $2, 076, :330 $2, 104,11 3 z7,803 $2, 123, 580 Expenditures and Encumbrances (See 5chedule 4-E) General government 496, 755 496, 377 378) 444, 061 Public safety and welfare 587, 704 561, 100 26, 604) 624, 455 Highways, streets and walks 490, 831 463, 321 27, 510) 452, 245 Health 29, 459 27, 507 1, 952) 23, 694 Parks and recreation 468, 650 478, 385 9, 735 481, 854 Total Expenditures and Encumbrances $2, 073 399 $2, 026 690 46-709) $2, 026, 309 Transfers to other funds 2, 911 2, 911 16, 440 Total Expenditures, Encumbrances and Transfers $2, 076, 310 $2, 029, 601 46, 709) $2, 042, 749 Excess (deficiency) of revenues and transfers and appropriations from fund balance over expenditures, t encumbrances and transfers 74, 512 74, 512 80, 831 (See notes to financial statements) This statement is an integral part of report dated July 6, 1973. -19- Schedule City of Brooklyn Center 4-A General Fund 5TATEMENT OF REVENUE BUDGET AND ACTUAL OBJECTIVE CLASSIFICATION Year 1972 Final 1972 Ove r( Under) Bud�et Actual Bud�et Taxe s- Ad Valo rem Real estate and personal property taxes $775,848 $775,904 56 Penalties and interest on tax bills 10, 500 17, 471 6, 971 Total Taxes -Ad Valorem $786, 348 $793, 375 7, 027 Shared Taxes Sales $461,699 $468,664 6,965 Gigarette 72, 000 65, 774 6, 226) l Liquor 60,000 58,387 1,613) Mortgage registry 5, 000 18, 989 13, 989 Bank excise 500 460 40) Other (mobile home, etc. 3 3 Total Shared Taxes $599 199 $612, 277 13, 078 Char�es For Services Recreation $190, 503 $193 639 3, 136 5ale of maps 1, 700 2, 117 417 Zoning and platting fee s 900 1, 817 917 Burglar alarm se rvice 1, 680 Z, 680 Fire alarm service 1, 242 1, 242 Weed cutting 1, 500 501 999) Other 30 30 Total Char�es For Services $194, 603 $201, 026 6, 423 In�er-Fund Char�es Engineering. clerical and labor 30, 000 35, 681 5, 681 Public utilities rent and administration) 10, 600 17, 516 6, 916 Total Inter�overnmental Char�es 40, 600 53, 197 12, 597 Licenses and Permits 82, 200 Building pe rmits 51, 8 59 Malt license 18, 796 Electrical permits 1 I, OI3 Plumbing permits 7, 141 Heating permits 5, 795 Sewer and water permits 2, 980 Food license 2, 008 Dog permits 2, 000 -20- Citv of Brooklvn Center 5chedule �4-A General Fund Cont'd STATEMENT OF R.EVENUE BUDGET AND ACTUAL OBJECTIVE CLASSIFICATION Year 1972 Final 19 72 Ove r( Unde r) Budget Actual Bud�et Licenses and Permits, Cont'd Bicycle license s 1, 474 Miscellaneous business licenses 1, 236 Vehicle license 1, 131 Heating license 960 Cigarette license 919 Swimming pool license 910 Garbage license 637 Service station license 631 Gas piping license 299 Bowling alley license 268 Occupancy perrnits 261 All other licenses permits 137 1 Total Licenses and Permits 82, 200 $110, 455 28, 255 Court Fines Costs and fees 60, 000 37, 172 22, 828) Other Income Rental of property 7, 000 12, 921 5, 921 Grants 8, 000 3, 534 4, 466) Civil defense reimbursements 4, 567 3, 432 1, 135) Refunds and reimbursements 2, 000 3, 397 1, 397 Interest on temporary investments 25, 000 3, 057 21, 943) Miscellaneous 500 2, 576 2, 076 Gifts private sources 1, 788 1, 788 Police towing charges 700 341 359) Total Other Incorne 49, 555 31, 046 18, 509) Transfers In Municipal Liquor Fund $182, 398 $182, 398 Total Revenue and Transfers In $1 994 903 $2, 020 946 26, 043 1 (See notes to financial statements) This statement is an integral part of report dated July 6, 1973. -21- 1972 Over Final 1972 (Under) Prior Bud�et Actual Bud�et Year General Government Mayor and Council 25, 746 22, 594 3, 152) 45, 710 Elections and registration 7, 032 024 8) 8, 729 Finance Administrative offices 174, 252 172, 589 1, 663) 165, 904 Assessor's office 42, 357 43, 340 983 41, 070 Accounting internal audit 48, 026 47, O10 1, O16) 41, 035 Independent audit 8, 600 8, 544 56) 8, 337 Legal 29, 308 28, 195 1, 113) 29, 131 Charter commission 500 135 365) -0- General government buildings 160, 934 166, 946 6, 012 104, 145 Total General Government $496, 755 $496, 377 378) $444, 061 Public Safetv and Welfare Police protection $474, 918 $460, 984 13, 934) $458, 722 Fire protection 39, 781 38, 147 1, 634) 92, 688 Protective inspection 51, 653 48, 063 3, 590) 52, 093 Civi1 defense 9, 352 4, 846 4, 506) 8, 970 Animal control 8, 500 7, 718 782) 8, 768 Weed eradication 3, 500 1, 342 2, 158) 742 Library building 2, 472 Total Public Safetv Welfare$587, 704 $561, 100 26, 604) $624, 455 Hi�hways, Streets and Walks Engineering department $118, 747 $11Q, 611 8, 136) $122, 186 Street department 262, 234 245, 283 16, 951) 231, 627 Maintenance shop 61, 050 58, 915 2, 135) 53, 130 Street lighting 48, 800 48, 512 288) 45, 302 v Total Hi�hwavs, Streets and Walks $490, 831 $463, 321 27, 510) $�52, 245 Health Health regulation and inspection 17, 500 15, 548 1, 952) 11, 890 Nursing service 11 959 11 959 11 804 Total Health 29, 459 27, 507 1, 952) 23, 694 -2�- City of Brooklyn Center Schedule 4-B General Fund STATEMENT OF EXPENDITURES AND ENCUMBRANCES BUDGET AND ACTUAL CLASSIFIED AS TO ACTIVITY, CHARACTER AND OBJECT Year 1972 Classified By Character and Object Year 1972 Current Expenditures Personal Contracted Capital Service Service Commodities Other Outlays 17 4 1 5, 103 9 4, 410 1, 206 246 1, 112 86, 307 32, 054 10, 382 42, 431 1, 415 39, 683 1, 363 661 1, 633 i 38, 812 8, 198 8, 544 27, 362 699 134 13 122 75, 888 64, 280 16, 444 610 9 724 �289 966 $107 569 28 186 58, 405 12, 251 $425, 904 6, 826 8, 784 7, 967 11, 503 26, 652 2, 867 1, 407 856 6, 365 46,674 1,389 1, 948 1, 003 459 1, 436 7, 718 1,280 62 i $510, 176 10, 696 10, 650 11, 710 17, 868 $109, 291 915 297 108 194, 990 26, 779 2, 987 20, 527 2,031 47,109 9,144 631 48, 512 $304, 281 50, 543 74, 803 12, 428 21, 266 15, 548 11, 959 27, 507 l i -23- 1972 Ove r Final 1972 (Under) Prior Bud�et Actual Bud�et Year Parks and Recreation 1 Supervision of recreation 184, 577 189, 311 4, 734 218, 224 Adult programs 26, 454 26, 344 106) 31, 337 Teens programs 17, 800 17, 559 241) 12, 455 Ghildrens programs 36, 545 33, 189 3, 356) 63, 981 Fall and winter sports 42, 800 42, 814 14 22, 385 Community Center 95, 058 98, 081 3, 023 61, 518 Park maintenance and improvement 65, 420 7I, 087 5, 667 71, 954 To�al Parks and Recreation 468, 650 478, 385 9, 735 481, 854 Transfers to Other Funds 2, 911 2, 911 16, 440 Total Expenditures, Encumbrances an.d Transfers Out $2, 076, 310 $2, 029, 601 46, 709) $2, 042, 749 (See notes to financial statements) This statement is an integral part of report dated July 6, 1973. -24- Citv of Brooklvn Center 5chedule 4-B General Fund Cont'd STATEMENT OF EXPENDITURES AND ENCUMBRANCES BUDGET AND ACTUAL CLASSIFIED A5 TO ACTIVITY, CHAR.ACTER AND OBJECT Year 1972 Classified By Character and Object Year 1972 Current Expenditures Personal Contracted Capital Se rvice 5e rvic e Commoditie s Othe r Outlays 166, 582 6 664 5, 923 1, $15 8, 327 18, 377 7, 967 8, 658 8, 901 27, 880 5, 309 34, O11 8, 803 87, 963 10, 118 17, 668 19. 016 42 34, 361 343, 471 24, 332 66, 037 1, 857 42, 688 2, 911 $1, 475, 401 193, 140 179, 676 87, 311 94, 073 -25- i E Pa rk Poor Concessions Fund Fund AS5E TS Gash on hand and in depositories 78 $(131) t Tem,porary Investments 9, 097 53 Taxes Receivabie Real estate and personal property: Gurrent year's levy 1, 024 Pxior years' levy 451 Contract Receivable sale of library Accrued interest receivable library contract Totals $10, 650 78) LIABILITIES AND FUND BALANCE Vouchers payable 1, 120 Due to other funds Unappropriated fund balance (Ex',iibit 6) 9, 530 7$) Totals $10, 650 78) (See notes to financial statements) This statement is an integral part of report dated July 6, 1973. _26_ Exhibit 5 City of B rooklvn Cente r Special Revenue Funds COMBINED BALANCE SHEET (COMPARATIVE) December 31, 1972 and 1971 Group Library Federal Combined Combined T raining 5ale s Revenue Sha ring Decembe r 31, Decembe r 31, Fund Fund Fund 1972 1971 1 $63 9 19 767 83, 028 $71", 396 163, 574 83, 715 1, 024 1, 252 4�1 253 72, 753 72, 753 79, 368 3,638 3,638 3,968 $63 $159,428 $71,396 $241,459 $169,323 1, 120 1, 026 10,929 $63 $159, 428 $71, 396 240, 339 157, 368 $63 $159,428 $71,396 $241,459 $169,323 Exhibit i 1 i 1 1 _27_ Park Poor Concessions Fund Fund Unappropriated surplus, Jaz�uary 1 9, 86$) 1, 46$ Add: Revenue (Exhibit 7) 37, 2$2 4, 008 Deduct: Expenditures and encumbrances (Exhibit 7) 17, 884) 5, 554) Unappropriated F'und Balance, December 31 (Exhibit 5) 9, 534 78) (See notes to financial statements) This statement is an iritegral part of report dated July 6, 1973. 28 j Exhibit 6 City of B rooklyn C ente r Special Revenue Funds COMBINED ANALYSIS OF CHANGES IN FUND BALANCE (COMPARATTVE► Years 1972 and 1971 Group L.ibrary Federal Combined Combined T raining Sale s Revenue Sha rir�g Total Total Fund Fund Fund 1972 1971 63 $165, 705 -0- $157, 368 $173, 746 -0- 9,423 71,396 122,109 28,165 1 -0- 15, 700) -0- 39, 138) 44, 543) 63 $159,428 71,396 $240,339 $157,3b8 1 t 1 -29- Pa rk Poor Concessions Fund Fund Revenue General Property Tax special ad valorem levy 37, 212 Interest earned on contracts recei�a.ble Concessions receipts 3, 955 Interest earned on temporary inve stments 70 53 Federal revenue sharing grant Total Revenue (Exhibit 6) 37, 282 4, 00$ Expenditure s Subsistence, care and support payment 10, 278 Administrative charge 7, 604 Purchases for resale 4, 870 Purchases of equipment 684 Rent Taxes written off 2 T:ransfers to other funds Total Expenditures (Exhibit 6) 17, 884 5, 554 Excess �Deficiency) of Revenue Over Expenditures 19, 398 1, 546) (See notes to financial statements) This statement is an integral part of report dated July 6, 1973. -3 0 Exhibit 7 City of Brooklyn Center Special Revenue Funds COMBINED STATEMENT OF R.EVENUE5 AND EXPENDITURES (COMPARATIVEI Years 1972 and 1971 Library Federal Combined Combined Sales Revenue 5haring Total Total Fund Fund 1972 1971 37,212 13,602 1 3, 638 3, 638 3, 968 3, 955 4, 265 5, 785 5, 908 6, 330 71,3q6 71,396 -0- 9,423 71,396 $122,109 28,165 10,278 14,563 7, 604 6, 047 4, 870 3, 878 684 1, 764 -0- 89 �2 102 15,700 15,700 18,100 15, 700 -0- 39, 138 44, 543 6, 277) 71, 396 82, 971 16, 378) -31- Certificates Library of Indebtedness Bonds #10 ASSE TS Cash in bank 46 Taxes Receivable Due from o�her funds Temporary investments 2, 241 861 Due from other governmental agencies Monie s on depo sit with the State qf Minne sota Uncollected dedicated funds: Special Assessment surpluses to be transferred Estimated revenue t Totals 2, 287 861 LIABILITIES AND FUND BALANCE Vouchers payable Due to other funds Contracts payable Reserve for authorized expenditures (Exhibit 9) Unappropriated fund balance (Exhibit 9) 2, 287 861 Totals 2, 287 861 (See notes to financial statements) This statement is an integral part of report dated July 6, 1973. -32- Exhibit 8 City of Brooklyn Center Capital Projects Funds COMBINED BALANCE SHEET (COMPARATIVE) Decernber 31, 1972 and 1971 Certificates Open-Space Capital Municipal Combined Combined of Indebtedness Acquisition Projects State Aidfor December 31, December 31, #11 Fund Fund Construction 1972 1971 2, 238) 17 94 2, 081) 1, 379 1,931 1,931 2,206 20, 029 20, 029 l, 377 456 1, 094 153, 924 1, 527, 928 1, 686, 504 1, 675, 561 87, 525 87, 525 87, 525 53, 925 53, 925 10, 917 89, 000 89, 000 229, 000 50, 000 456 86, 381 $244, 872 $1, 601, 976 $1, 936, 833 $2, 057, 965 429 2, 942 3, 371 1, 836 50, 900 101 263, 578 314, 579 112, 897 41 537 35, 975 77, 512 149, 934 32, 558 203, 234 1, 083, 777 1, 319 569 1 638, 173 456 2,494 215,704 221,802 155,125 456 86, 381 $244, 872 $1, 601, 976 $Y, 936, 833 $2, 057, 965 Exhibit 1) -33- Certificates of Library Indebtedness Bonds #10 Reserve for Authorized Expenditures General indebtedness G-eneral obligation bonds $250, 000 Certificates of indebtedness 44, 000 Ad valo rem taxe s Sale of property G rant s f rom othe r go ve rnmental u nit s Hennepin County U, S. Government State of Minnesota for'parks State of Minnesota for highways Transfers-In G ene ral Fund Special Assessment Funds Dedicated funds appropriated as of year end Interest earned on investments l, 527 287 Total Amount Appropriated $251, 527 44, 287 Less: Ex enditures for authorized purchases P Total expenditures through December 31, 1971 $249, 240 43, 426 1972 Expenditures Open 5pace land acquisition Debt service Street construction Civic center Municipal service ga �°age and fire station (East) Parks and playg round s� Total Authorized Expenditures thraughDecember 31,1972 $249, 240 43, 42b Reserve for Authorized Expenditures, December 31, 1972 -0- -0- (Exhibit 8) Unappropriated Fund Balance, December 31, 1972 2, 287 861 (Exhibit 8) (See notes to financial statements) This statement is an integral part of report dated July 6, 1973. -34- Citv of Brooklyn Center Exhibit 9 Capital Projects Funds COMBINED 5TATEMENT OF APPROPRIATIONS AND EXPENDITURES (COMPARATIVE) Years 1972 and 1971 Municipal Certificates Open State Aid of Space Capital for Combined Combined Ind�btedness Acquisition Projects Highway December 31, December 31, #11 Fund Fund Construction 1972 1971 $2, 250, 000 $1, 030, 000 $3, 530, 000 $3, 530, 000 9, 500 53, 500 53, 500 265, 243 265, 243 265, 243 37, 543 37, 543 37, 543 22, 850 22, 850 22, 850 151, 575 151, 575 151, 575 74, 643 74, 643 74, 643 1, 186, 114 1, 186, 114 956, 272 92, 997 3, 000 95, 997 95, 997 87, 000 87, 000 37, 000 279,000 279,000 279,000 94 2, 494 227, 306 246, 026 477, 734 379, 777 9, 594 $344, 559 $3, 149, 092 $2, 462, 140 $6, 261 199 $5 933, 400 9, 138 $206 999 $2, 908, 424 722, 875 $4, 140, 102 $3,, 707, 859 102 508 102 508 5 538 39, 888 39, 888 61, 901 399, 896 399, 896 270, 294 7, 886 7, 886 62 411 263 263 9,038 2q,285 29,285 23,061 9, 138 $309, 507 $2, 945, 858 $1, 162 659 $4, 719, 828 $4, 140, 102 -0- 32, 558 203, 234 -$1, 083, 777 $1, 319, 569 $1, 638,173 456 2, 494 -0- 2I5, 704 221, 802 155, 125 I -35- Park Librar y ASSETS Bonds Bonds Cash on hand and in de ositories 71 24 p Temporary investments 31, 390 8, 481 Due £rom other funds Taxes Receivable 2, 245 313 Totals $33, 706 $8, 818 LIABILITIES AND SURPLUS Unappropriated surplus (Exhibit 11) $33, 706 $8, 818 Totals $33, 706 $8, 818 (See notes to financial statements) This statcment is an in�egral part of report dated July 6, 1973. _36_ Exhi�it 10 City of Brooklyn Center Debt 5Ervice Funds COMBINED BAL,ANCE SHEET (COM�ARATIVE) December 31, 1972 and 1971 Certificates State Aid 1969 Building Combined Combined of Stree� Improvement Total Total Indebtedness Bonds Bonds 1972 1971 r 219 4 318 274 9, 117 131 31, 164 80, 2 83 54, 553 6, 239 6, 239 6, 239 1. 197 9, 031 12, 786 23, 330 $10 533 $6, 370 $4Q 199 $99, 626 $84, 396 $10,533 $6,370 $40,199 $99,626 $84,396 $10,533 $6,370 $40,199 $99,626 $84,396 Exhibit 1) i t t 1 -37- 1 1 Park Library Bonds Bonds Unappropriated 5urvlus, Januar�tr 1 $30, 436 7, b62 Add: Revenue General property tax levies 28, 713 State aid Transfers froxn other funds 15, 700 Interest on ternporary investznents 1, 875 381 Total BalanGe and Additions $61, 024 $23, 743 Deduct: Expenditures Principal paid $20, 000 $10, 000 :tnterest paid 7, 200 4, 900 5erviee charges (�aying agent) 99 25 Write off- tax levy balances 19 Total Expenditures $27, 318 $14, 925 Unappropz�iated Surplus, December 31 $33, 706 8, 818 (Exhibi.t 10) (5ee notes to finan���.l st�.texnents) This statement is an integral part of report dated July 6, 1973. -38- City of B rooklvn C ente r Exhibit 11 DeUt Service Funds COMBINED STATEMENT OF REVENUE, EXPENDITURES AND SURPLUS (COMPARATIVE) For the Years Ended December 31, 1972 and 1971 Certificates State Aid 1969 Building Combined Combined of Street Improvements Total Total Indebtedness Bonds Bonds 1972 1971 $10, 025 6, 360 29, 913 84, 3g6 66, 809 191, 784 220, 497 208, 223 49, 540 49, 540 43, ?90 39, 792 55, 492 58, 001 522 131 1.464 4,373 3,945 $10, 547 $95, 823 $223, 161 $414, 298 $380, 768 $25, 000 35, 000 90, 000 68, 000 64, 277 147, 550 223, 927 227, 302 176 412 712 686 14 33 384 14 $89,453 $182,962 $314,672 $296,372 $10,533 6,370 40,199 99,626 84,396 39- Bond Fund 1955A ASSE T5 No. 1 Fund Cash on hand and in depositories 10 107 Temporary investments 10, 708 95, 344 Accounts receivable Due f rom othe r fund s Assessments receivable: Future installments (principal) 740 26, 507 Delinquent assessments (principal interest) 834 5, 220 City General Fund (principal no interest charge) 66 Interest applicable to current year on installments due in following year I nstallments applicable to tax forfeit property 129 400 Authorization to assess for construction in progress Deferred interest charges Totals $12, 421 $127, 644 LIABILITIES Accounts payable Contracts payable Accrued expenses and costs Due to other funds Construction loans payable Bonds payable future years (Exhibit 15) 51, 000 Total Liabilities -0- 51, 000 Unappropriated surplus (deficit) for debt xetirement (Exhibit 13) $12, 421 76, 644 Unexpended appropriations for construction (Exhibit 14) Totals $12, 421 $127, 644 (See notes to financial statements) This statements is an integral part of report deated July 6, 1973. _40_ City of Brooklyn Center �xhibit 12 5pec.ial Assessment Funds i COMBINED BALANCE SHEET (COMPARATIVE) Years Ended December 31, 1972 and 1971 1956 B Combined Combined 1956 AC 1957 AB 1958 A 1958 B 1959 AB 1960 AB 1961 AB 1963 1965 1966 1968 1970 1971 Total Total Fund Fund Fund Fund Fund Fund Fund Fund Fund Fund Fund Fund Fund 1972 1971 148 106 106 87 66 500 111 42 306 140 1,227 74 1,632 4,662 2,882 127, 953 12, 611 126, 436 137, 186 124, 313 342, 485 371, 676 213, 843 54, 342 82, 472 74 811 66 320 1, 840, 500 1, 843, 193 25 27, 124 27, 149 525 306 203 l, 446 267, 117 269, 072 97, 240 57, 799 33, 750 82, 752 31, 394 101, 740 342, 394 204, 921 196, 709 114, 708 314, 909 442, 070 1, 787, 062 698, 744 4, 436 199 4, 672, 552 I� 7, 031 932 5, 109 847 1, 869 25, 683 15, 542 5, 14� 1, 725 7, 183 11, 228 171, 301 10, 890 270, 543 232, 717 50 37, 147 4, 975 13, 578 12, 579 12, 095 167, 412 45, 635 293, 537 278, 500 8, 477 8, 4�7 5, 476 1, 047 92) 847 1, 083 310 3, 787 13, 607 621 934 1, 570 903 25, 146 20, 787 I 20, 622 3, 233 419, 264 443, 119 g9 5, 417 I 33,280 33,280 36,244 I $193, 978 $47, 307 $215. 300 $170, 597 $228, 298 $714, 849 $643.004 $421, 645 $185 796 $440, 946 $541, 431 $2, 228, 682 $1, 479. 786 $7, 651, 684 $8, 085, 533 I 34 9 43 71,332 71,332 108,677 98,043 98,043 40,481 203 1,446 155,726 80,119 237,494 202,683 1,132,000 1,132,000 904,000 80, 000 $150, 000 $110, 000 $215, 000 600, 000 $490, 000 305, 000 1 55, 000 $415, 000 515, 000 1, 905, 000 4, 991 000 5, 585, 000 80, 000 -0- $150, 000 $110, 000 $215, 000 $600, 034 $490, 000 $305, 203 $155, 009 $415, 000 $516, 446 $2, 060, 726 $1, 381, 494 $6, 529, 912 6, 840, 841 $113, 978 $47, 307 65, 300 60, 597 13, 298 $114, 815 $153, 004 $116, 442 30, 787 25, 946 24, 985 167, 956 40, 035 $l, 063, 515 1, 081, 987 58,257 58,257 162,705 $193, 978 $47, 307 $215, 300 $170, 597 $228, 298 $714, 849 $643, 004 $421, 645 $185, 796 $440 946 $541, 431 $2, 228, 682 $1, 479, 786 $7, 651, 684 8, 085, 533 (Exhibit 1) I'I� _41- Bond Fund 1955 A No 1 F und Unappropriated 5urplus January 1 $35, 604 $127, 432 Add: Revenue Interest Assessments 463 1, 892 Interest Investments 1, 468 9, 617 Revenue 1,931 11,509 Le s s: Expenditure s Interest 64 2, 210 Agent charges 50 87 Transfers to capital project fund per council 25, 000 60, 000 re solutions Expenditures $25, 114 62, 297 Unappropriated Surplus December 31 To Exhibit 12) $12, 421 76, 644 (See notes to financial statements) This statement is an integral part of report dated Juiy 6, 1973, -42 Citv af B rooklvn Cente r E xhibit 13 Special Assessment Funds COMBINED 5TATEMENT OF REVENUE, EXPENDITURES AND UNAPPROPRIATED SURPLU5 FOR DEBT RETIREMENT (COMPARATIVE) Years Ended December 31, 1972 and 1971 1965 B Combined Combined 1956 AC 1957 AB 1958 A 1958 B 1959 AB 1960 AB 1961 AB 1963 1965 1966 1968 1970 1971 Total Total Fund Fund Fund Fund Fund Fund Fund Fund Fund Fund Fund Fund Fund 1972 1971 '$146, 893 $75, 342 $58, 256 $82, 131 8, 912 96, 330 $135, 424 $101, 405 $27, 232 $23, 113 $23, 862 $133, 546 6, 505 $1, 081, 987 924, 921 3, 979 2, 464 6, 064 2, 345 7, 055 25, 083 14, 769 13, 945 6, 984 $19, 655 $35, 474 $161, 009 $33, 544 334, 725 349, 512 10, 544 1, 520 8, 109 10, 808 8, 300 21, 341 22, 726 12, 603 3, 224 4, 373 3, 579 2, 621 120, 833 120, 079 14, 523 3, 984 $14, 173 $13, 153 $15, 355 46, 424 37, 495 26, 548 $10, 208 $24, 028 $39, 053 $163, 630 $33, 544 455, 558 469, 591 4, 305 7, 000 4, 640 $10, 875 27, 600 19, 765 11, 440 6, 585 $21, 035 $37, 700 $128, 721 281, 940 310, 050 133 19 129 47 94 339 150 71 68 160 230 499 14 2,090 2,475 43, �00 32, 000 30, 000 190, 000 47,438 $32,019 7,129 34 687 10 6 27 3 9 9 9 9 19, 915 11, 511 6, 653 $21, 195 $37, 930 $129, 220 14 474, 030 312, 525 �$113, 978 $47, 307 $65, 300 $60, 597 $13, 298 $114, 815 $153, 004 $116, 442 $30, 787 $25, 946 $24, 985 $167, 956 $40, 035, $1, 063, 515 $1, 081, 987 i I '43_ THOSE PROJECTS CLOSED DURING 1972 Appropriations (Note 3) Project Original (Added) Final Number Description Appropriations Cancelled Appropriation 69 Curb and gutter 54, 330. 00 54, 330. 00 69-52 Curb and gutter 23, 060. 00 23, 060. 00 69-57 Curb and gutter 21, 860. 00 21, 860. 00 70-13 Street 66, 600. 00 66, 600. 00 70-14 Curb and gutter 13, 400, 00 13, 400. 00 70-15 Street 24, 400. 00 24, 400. 00 70-16 Curb and gutter 4, 200. 00 4, 200. 00 70-19 Street 65, 000. 00 65, 000. 00 70-20 Street 94, 450.�00 94, 450. 00 71-2 Street 19, 400. 00 19, 400. 00 71-4 Street 17, 600. 00 17, 600. 00 71- 5 Street 18, 100. 00 18, 100. 00 71-6 Curb and gutter 5, 200. 00 5, 200. 00 71-7 Curb and gutter 11, 400. 00 11, 400. 00 71-8 Sidewalk and street 215, 000. 00 215, 000. 00 71-13 Sanitary sewer 16, 300. 00 16, 300. 00 71-14 Water 35, 000. 00 35, 000. 00 71-16 5anitary sewer 8, 800. 00 8, 800. 00 71-17 Water 12, 200. 00 12, 200. 00 71-18 Water 25, 500. 00 25, 500. 00 71-19 Street 5, 050. 00 5, 050. 00 71-20 Sanitary sewer 13, 700. 00 13, 700. 00 71-21 Storm sewer 21, 000. 00 21, 000. 00 71-22 Water 13, 300, 00 13, 300. 00 Total Projects Closed in 1972 $804, 850. 00 $-0- $804, 850. 00 (See notes to financial statements) This statement is an integral part of report dated July b, 1973. 44 City of Brooklyn Center Exhibit 14 Special Assessment Funds �ONSTRUCTION EXPENDITURES COMPARED TO APPROPRIATIONS AND AS5ESSMENT OF COSTS Year 1972 Expenditures Costs Assessed Assessed Compared to Cost Balance During Total 5tate Aid Property (Under) Over Applied to Water 1/1 /1972 1972 Expenditures Share Share Total Assessed Utility 44, 007. 90 4, 737. 40 48, 745. 30 14, 623. 59 34, 121. 70 48, 745. 29 $(Ol) 8, 004. 49 1, 782. 53 9, 787. 02 9, 787. 06 9, 787. 06 04 13, 522. 77 950. 39 14, 473. 16 4,�341. 95 10, 131. 21 14, 473. 16 31, 672. 73 3, 737. 52 35, 410. 25 35, 410. 24 35, 410. 24 (Ol) 10, 929. 81 1, 220. 90 12, 150. 71 12, 150. 71 12, 150. 71 14, 861. 25 1, 820, 56 16, 681, 81 5, 004, 55 11, 677. 24 16, 681. 79 (02) 3, 243. 07 342. 50 3, 585. 57 1, 075. 67 2, 509. 89 3, 585. 56 (O1) 51, 943. 91 4, 653. 36 56, 597. 27 22, 147. 53 34, 449. 72 56, 597. 25 (02) 50, 432, 56 11, 193. 35 61, 625. 91 61, 625. 88 61, 625. 88 (03) 17, 493. 29 3, 781, 35 21, 274. 64 21, 274. 64 21, 274, 64 15, 924. 37 6, 154. 64 22, 079. O1 6, 623. 70 15, 455. 30 22, �79. 00 (O1) 14, 196. 71 13, 497. 19 27, b93. 90 27, 693. 90 27, 693. 90 5, 843. 36 1, 118. 15 6, 961, 51 6, 961. 55 6, 961. 55 04 10, 465. 72 437. Ol 10, 902. 73 5, 822. 55 5, 080. 15 10, 902. 70 (03) 225, 094. 66 14, 683, 65 239, 77$. 31 109, 821. 53 129 956 78 239, 778. 31 14, 162, 40 71. 70 14, 234. 10 14, 234. 19 14, 234. 19 �9 31, 769. 04 3, 0 10, '7g 34, 779. 82 27, 910. 00 27, 910. 00 6, 869. 82) 7, 926. 21 262. 59 8, 188. 80 8, 188. 80 8, 188. 80 9, 783. 54 514. 59 10, 298. 13 27, 312. 62 27, 312. 62 17, 014. 49 26, 761. 76 167. 94 26, 929. 70 13, 570. 00 13, 570. 00 13, 359. 70) 2, 389. 96 1, 766, 60 4, 156. 56 4, 156. 55 4, 156. 55 (O1) 9, 575. 83 2, 635, 17 12, 211. 00 12, 21 l. 08 12, 211. 08 08 16, 303. 58 3, 889. 79 20, 193. 37 20, 193. 37 20, 193. 37 13� 505. 10 4, 038. 72) 9, 466. 38 11, 611. 30 11, 611. 30 2, 144. 92 $649 814. 02 $78, 390. 94 $728, 204. 96 $169 461. 07 $557, 673. 88 $727, 134. 95 $.10 $(1, 070. 11) 45_ Citv of Brooklvn Center Exhibit 14 Special Assessment Funds Cont'd CONSTRUCTION EXPENDITURES COMPARED TO APPROPRIATIONS AND ASSESSMENT OF CO5TS Year 1972 PROJECTS IN PROCESS AT 12 /31 /1972 Appropriated Expenditures Unexpended Project Through Through (Overexpended) Number Description 12-31-72 12-31-72 Appropriations 71-3 Curb and gutter 6, 300. 00 6, 300.00 71-9 Sidewalk 12, 400, 00 11, 412. 04 987. 96 71-15 Street 13, 500. 00 17, 283. 62 3, 783, 62 71-23 Street 25, 200. 00 14, 852. 22 10, 347. 78 71-24 Curb and gutter 9, 300. 00 9, 300. 00 72-16 Sanitary sewer 27, 000. 00 24, 072. 53 2, 927. 47 72-17 Storm sewer 90, 000. 00 77, 533. 67 12 466 33 72-18 Water 33, 330. 00 30, 154. 14 3, 175. 86 72-19 Street 88, 000. 00 55, 657. 53 32, 342. 47 72-20 Bridge 13, 000. 00 12, 548, 49 451. 51 72-25 Sanitary sewer 2, 350. 00 1, 188. 00 1, 162. 00 72 Street 22 241 66 22, 241. 66 72-27 Water 7, 300. 00 5, 895. 53 1, 404. 47 72,28 Sanitary sewer 14, 100, 00 12, 421, 88 1, 678. 12 72-29 Street 1, 500. QO 3, 162. 68 1, 662. 68) 72-32 Water 10, 900. 00 9, 824. 29 1, 075. 71 72-33 Street 3, 350. 00 4, 512. 89 1, 162. 89) 72-34 Street 32, 000. 00 185. 28 31, 814. 72 Unallocat�d costs 50, 568. 26 50, 568. 26) Total Appropriations $411, 771. 66 Total Expenditures $353, 514. 71 Excess Appropriations Over Expenditures (To Exhibit 12) $58, 256. 95 (See notes to financial statements) This staternents is an integral part of report dated July 6, 1973. 1 46- Bond Redemption Year of Total Monies to Fund Descriptionof Issue Issue Issue Payin� Agent 1955 A 1955 A serial issue 1955 497, 000 446, 000 1956 AC 1956 C serial issue 1956 550, 000 470, 000 1958 A 1958 A serial issue 1958 530, 000 380, 000 1958 B 1958 B serial issue 195$ 390, 000 280, 000 1959 AB 1959 AB serial issue 1960 630, 000 415, 000 1960 AB 1960 A serial issue 1960 768, 000 528, 000 1960 B serial issue 1961 885, 000 525, 000 1961 AB 1961 A serial issue 1962 595, 000 325, 000 1961 B serial issue 1963 430, 000 210, 000 1963 1963 A serial issue 1964 636 000 331, 000 1965 1965 A Improvement bonds 1966 345, 000 190, 000 1966 1968 Improvement bonds 1968 750, 000 335, 000 1968 1969 Improvement bonds 1969 755, 000 240, 000 1970 1970 Improvement bonds 1970 2, 290, 000 385, 000 T.otal $10, 051, 000 $5, 060, 000 (See notes to financial statements) This statement is an integral part of report dated July 6, 1973, -47- Exhibit 15 City of Brooklyn Center Special Assessment Funds STATEMENT OF LONG-TERM DEBT (PRINCIPAL AMOUNT OUTSTANDING) December 31, 1972 Balance Last Unpaid Installment 12-31-72 Due on CouAOn Rates on Outstandin� Bonds 51, 000 1-1-76 3. 25% 80, 000 1-1- 77 4. 10 150, 000 1-1-79 4. 00 110, 000 1-1-79 10 M@ 3. 50%; 90 M� 3, 60% 215, 000 1-1-81 30 M@ 4. 25%; 185 M@ 4. 50% 240, 000 1-1-81 90 M L 3. 00%; 190 M� 4. 20% 360, 000 1-1-81 315 M@ 4. 20%; 45 M@ 4. 10°'/0 270, 000 1-1-82 150 M@ 3. 75%; 120 M@ 3. 70% 220, 000 1-1-84 100 M@ 3. 70%; 120 M@ 3. 60% 305, 000 1-1-85 75 M@ 3. 60°�0; 80 M� 3, 50°jo; 90 M@ 3. 40%; 60 M@ 3.20% 155, 000 1-1- 86 110 M@ 3. 80%; 45 M� 3. 70% 415, 000 1-1- 88 50 M(� 4. 80%; 100 M@ 4, 70%; 16 5 M@ 4. 50%; 100 M@ 4, 20% 515, 000 1-1-89 6. 50% 1, 905, 000 1-1-90 40 M@ 6, 75%; 20 M@ 6. 70%; 20 M@ 6, 65%; 125 M@ 6, 60% 125 M@ 6. 50%; 125 M L 6.40%; 125 M� 6. 30% 375 M@ 6. 25%; 620 M@ 6.00%; 330 M� 5. 50% �4. 991, 000 Exhibit 12 48 A55E T 5 Current Assets 1972 1971 Cash on hand and in depositories 41, 851 41, 284 Miscellaneous receivables 2 929 85 Temporary investments 1, 446 34, 858 Due from other funds 2, 071 58 Merchandise inventory (Note 4) 170, 068 193, 023 Prepaid expenses 3, 420, 7, 504 Cash held by paying agent revenue certificate account 15, 319 Total Current Assets $221, 785 $292, 131 Fixed Assets Fixtures Equipment Lyndale Avenue Store 11, 670 11, 420 Brooklyn Blvd. Store 20, 047 19, 797 Brookdale Store -0- 10, 976 Northbrook Store 25, 270 25, 200 56, 987 67 393 Less: Accumulated provision for depreciation t 33, 246) 41, 063) 23, 741 26, 330 Leasehold and Land Improvements (Note 4) Brooklyn Blvd. 5tore 4, 229 2, 240 Brookdale Store -0- 16, 779 Northbrook Store 10, 402 10, 402 14, 631 29, 421 Less: Accumulated provision for amortization 3, 963) 18 109) 10, 668 11 312 Total Book Value of Fixed Assets 34, 409 37, 642 Total Assets $256, 194 $329, 773 (See notes to financial statements) This statement is an integral part of report dated July 6, 1973. 49- 1 Exhibit 16 Citv of Brooklvn Center Municipal Liquor Fund BALANCE SHEET (Comvarative) December 31, 1972 and 1971 LIABILITIES AND SURPLUS Current Liabilities. 1972 197I Accounts payable 59, 142 56, 082 Accrued sales tax payable 6, 499 6, 812 Accrued salaries and wages payable 2, 597 2, 672 Accrued insurance payable 613 127 Due to other funds 110, 128 93, 135 Accrued interest on revenue certificates -0- 319 Revenue certificates payable portion due within one year -0- 15, 000 1 Contracts payable -0- 29, 985 Total Current Liabilities $178, 979 $204, 132 Lon�-Term Liabilities Revenue certificates payable -0- 15, 000 Less: Portion due within one year 15, 000) Total Lon�-Term Liabilities -0- -0 Total Liabilitie s $178, 979 $204, 132 Su rplus Exhibit 17 Restricted per terms of resolution aut horizing the issuance of revenue certificates -0- 15, 319 Unrestricted, undistributed sur lus 77, 215 110, 322 P Total Surplus 77, 215 $125, 641 Total Liabilities and Surplus $256, 194 $329, 773 Exhibit 1) -so- Exhibit 17 City of Brooklyn Center Municipal Liquor Fund ANALY5IS OF CHANGE5 IN SURPLUS (COMPARATIVE) Years 1972 and 1971 1972 1971 SurAlus, Januarv 1 $125, 641 $158, 756 Add: Net income {Exhibit 19 133, 972 168, 406 Balance and Additions $259, 613 327, 162 Deduct: Transfers to other Funds General Fund (Exhibit 4) 182, 398 2�1, 521 Surplus, December 31 (To Exhibit 16 77, 215 $125. 641 (See notes to financial statements) This statement is an integral part of report dated Ju ly 6, 1973. _.51 1 Exhibit 18 Citv of Brooklyn Center Municipal Liquor Fund 5UMMARY STATEMENT OF CHANGE5 IN FINANCIAL POSITION �COMPARATIVE) Years 1972 and 1971 1 Source of Funds 1972 1971 Funds Provided by: Net income for year (Exhibit 19 $133, 972 $168, 406 Add: Charges not requiring funds depreciation 5, 792 1, 863 Net funds provided by operations 139, 764 170, 269 Reduction of working capital 45, 193 83, 082 Total Source of Funds $184, 957 $253, 351 Application of Funds Funds Applied to: Purchase of fixed assets 2, 559 36, 830 Retirement of bonds -0- 15 000 Transfers to general fund 182, 398 201, 521 Total Application of Funds $184, 957 $253, 351 Analysis of Changes in Working Capital Beginning End of Working Capital Year of Year Year Increase (Decrease) Workin� Capital 2972 87, 999 $42, 806 $(45, 193) Workin� Capital 1971 $171, 081 $87, 999 $(83, 082) (See notes to financial statements) This statement is an integral part of report dated July 6, 1973. 52_ 1 Sales Less: Cost of sales Gross Mar�in on Sales Operatin� Expenses Requirin� Funds Sala rie s and wage s Insurance Rent Note 4 Payroll taxe s Utilitie s Supplie s Repairs and maintenance Heating Protection services Laundry Audit Telephone Inventory variance Miscellaneous expenses Provision for bad checks (Net of recoveries) Mileage Cash (over) and short Breakage Taxes and license Total Operatin� Expenses Requiring Funds Net Operatin� Income Loss) Before Depreciation and Amortization Less: Depreciation Net Operating Income (Loss) Add: Interest income on temporary investments and miscellaneous income Deduct: Interest and paying agent charges on revenue certificates Net Income (To Exhibits 17 18) (See notes to financial statements) This statement is an integral part of report dated July 6, 1973. 53_ j Exhibit 19 Citv of Brooklj-n Center Municipal Liquor Fund STATEMENT OF INCOME AND EXPENSE (COMPAR.ATIVE) Year ly"!2 #1 #2 #3 #4 Combined Combined Lyndale Ave. Brooklyn Blvd. Brookdale Northbrook Total All Total All Stor� Store Store Store Stores-1972 Stores-1971 $367, 108 $55 1, 683 10, 748 $520, 917 $1, 450, 456 $1, 369, 438 287, 393 430, 212 9, 633 405, 112 I, 132, 350 1, 034, 2_55 79. 715 $121, 471 1, 11 5 $115, 805 318, 106 335, 183 35, 784 41, 546 2, 403 38, 749 118, 482 I08, 083 4, 290 5, 090 936 4, 476 14, 792 12, 775 -0- -0- 1,094 13,205 14,299 16,054 2, 529 3, 078 180 3, 268 9, 055 7, 421 l, 910 2, 208 223 2, 824 7, lb5 6, 893 730 I, 398 -0- I, 456 3, 584 3, 799 1,127 1,370 46 575 3,118 3,617 1, 382 796 120 646 2, 944 1, 445 376 603 32 499 1,510 1,697 189 618 23 572 1,402 1,221 311 452 -0- 424 1, 187 I. I E�0 249 271 7 288 815 685 204 388 61 140 793 3]f� 95 95 112 85 387 218 81 130 17 100 328 290- 71 71 7 104 253 459 77) 111 5 68 107 19 39 31 -0- 22 92 11 23 22 -0- 15 60 59 49, 313 58, 278 5. 2h6 67, 516 180, 373 166 222 30, 402 63, 193 4, 151) 48, 289 137, 733 168. 961 11 1, 167 -0- 4, 614 5, 792 1, 863 30, 391 b2, 026 4,151) 43, 675, 131, 941 167, 098 2 031 1 983 -0- 675) 133,972 168,406 54_ 1 A5SET5 Decembe r 31, 1972 1971 Plant, Equipment and Construction Funds (Note 6) Mains and lines $10, 151, 077 $10, 064, 897 5tructures 406, 128 405, 935 Equipment 286, 135 285, 851 Meters 246, 296 233, 626 Land 23, 621 19, 371 Plant and equipment in service (Exhibit 25) $11, 113, 257 $11, 009, 680 Construction in progress 5 993 5 993 Unexpended bond proceeds (Note 5) 629, 317 60Q, 836 Total Plant, Equinment and Construction Funds $11, 748, 567 $11 616 509 Restricted Assets Investments funded depreciation (Note 6) 510, 034 385, 531 Debt retirement fund (1'�ote 5) 187, 176 188, 832 Metro Sewer Board receivable (Note 7) 303, 747 293, 325 Investments plant expansion (Note 5} 1, 022, 453 844, 121 Total Restricted Assets 2, 023, 410 1, 711, 809 Other Assets Assessments receivable principal portion 85 651 89 916 Current and Accrued Assets Cash in bank 13, 376 3, 519 Accounts receivable 86, 394 96, 990 Accrued revenue -(Water pumped, but not billed) 69, 069 66 365 Materials and supplies 12, 864 13, 234 Prepaid expenses 15 986 2, 410 Assessments receivable 2, 149 2, 136 Due from other funds 191, 830 196, 712 Due from other governmental units 28, 186 Total Current and Accrued Assets 419, 854 381, 366 Total $14, 277, 482 $13, 799, 600 See note s to financial statements) This statement is an integral part of report dated July 6, 1973. -55- City of Brooklyn Center Exhibit 20 Public Utilities Fund COMPAR.ATIVE BALANCE SHEET December 31, 1972 and 1971 LIABILITIES, RESERVES AND RETAINED EARNING5 December 31, 1972 1971 Sources of Investments in Fixed Assets Lon�-Term Debt Revenue bonds (Exhibit 26) (Note 5) 785, 000 815, 000 Contributions, Reserves and Surplus Contributions from specia2 assessments and contractors 9, 549, 516 9, 483, 565 Revenue bonds redeemed (Note 5) 2I5, 000 185, 000 Interest income accumulated on bond proceeds (Note 5) 264, 894 231 969 Depreciation provisions represented as invested in plant (Note 6) 905, 266 892, 314 Plant and equipment charged to income 28, 891 8, 661 Total Sources of Investrnent in Fixed Assets $11, 748, 567 $11 616 509 Reserves for Restricted Assets Depreciation provisions represented as not invested in plant (Note 6) 510, 034 385, 531 Debt service reserves (Note 5) 187, 176 188, 832 Metro 5ewer Board reserves (Note 7) 303, 747 293, 325 Restriction for plant expansion (Note 5) l, 022, 453 Total Reserves for Restricted Assets 2, 023, 410 867, 688 Other Liabilities and Credits Customer meter deposits 247, 422 231 396 Deferred gain on sale of assets (Note 7) 91, 975 95, 260 TotalOther Liabilities and Credits 339, 397 326, 656 Current and Accrued Liabilities Vouchers payable 13, 834 3, 617 Contracts and notes payable 2, 349 l, 416 Accrued salaries payable 1, 771 1, 403 Accrued payroll taxes 2, 359 2, 290 Due to other funds 13, 860 11, 350 Total Current and Accrued Liabilities 34, 173 20, 076 Balance of retained earnin s Exhibit 22 131 35 68 67 g ,9 9 1 Total 14 277 482 $13, 799, 600 56- Citv of Brooklvn Center Exhibit 21 Public Utilities Fund COMPARATIVE STATEME NT' OF CHANGES IN FINANCIAL POSITION Years 1972 and 1971 Sources 1972 1971 Operations: Balance of Income available for transfer to retained earnings 185, 717 238, 628 Add: Non-working capital charges not requiring outlay of wo rking capital Income deductions (Exhibit 22) 105, 025 118, 746 Depreciation (Exhibit 22) 137, 455 136, 645 Metro Sewer Board receivable (Note 7) 11, 485 11, 837 Deduct: Non-working capital credits not requiring additional wo rking capital Income additions (Exhibit 22) 12, 653) 13, 295) Metro Sewer Board deferred gain (Note 7) 3, 285) 3, 285) Interest Expense (Exhibit 22) 31, 767) 32, 893) Working Capital provided by operations 391, 977 456, 383 Retirement of assets -0- 3, 921 Contributions by contractors and special assessments 65, 951 125, 707 Customer meter deposits 16, 026 19, 055 Collection of assessments receivable 14, 344 21, 380 Interest income accumulated on bond proceeds(l�bte 5) 32, 925 37, 042 Reduction Metro 5ewer Board Receivable (Note 7) 1, 120 Additions to reserves 1, 095, 711 42, 917 ,Reduction of debt service asset 48 1, 458 Sale of assets to Metro Sewer Board 994, 121 Establish Metro 5ewer Board reserves 305, 162 Total $1, 618, 102 $2, 007, 146 Applications Invested in plant and equipment 103, 577 157, 790 Increase construction funds (Note 5) 28, 481 37, 042 Increase restricted investments 302, 835 251, 444 Assessments 10, 079 22, 027 Retire Debt 30, 000 704, ?67 Transfer of reserves 325, 332 Appropriation of retained earnings (Note 5) 1, 022, 453 Metro Sewer Board Receivable 23, 028 348, 098 Transfer to reserves 73, 258 42, 917 Increase in working capital 24, 391 117, 729 Total $1, 618, 102 $2, 007, 146 Chan�es in Workin� Capital Working capital, beginning of year 361, 290 243, 561 Working capital, end of year 385, 681 361, 290 Increasel of workin� capital 24, 391) 117, 729) (See notes to financial statements) This statement is an integral part of report dated July 6, 1973. 57- City of Brooklyn Center Exhibit 22 Public Utilities Fund COMPAR.ATIVE STATEMENT OF OPERATIONS AND RETAINED EARNING5 Years 1972 and 1971 1972 Water Sewer 1971 Department Department Combined Combined Utility Operatin� Revenues Residential sales $208, 750 $247, 957 $456, 707 $464, 863 Commercial Sales 119, 133 139, 341 258, 474 237, 713 Other governmental unit sales 20, 232 Service hookup charges I9, 204 -0- 19, 204 38, 752 Penalties 881 5, 138 6, 019 5, 759 Other 13,912 14,357 28,269 38,228 Utility Operating Revenues $361, 880 $406, 793 $768, 673 $805, 547 Less Utility Operatin� Expenses Operating Expenses (Exhibit 23, 24) $141, 100 $306, 467 $447, 567 $391 967 Depreciation (Exhibit 25) 84, 855 52, 600 137, 455 136, 645 Utility Operatin� Expenses $225, 955 $359, 067 $585, 022 $528, 612 Utility Operatin� Income $135, 925 47, 726 $1$3, 651 $276, 935 Other Income Interest 47, 036 47, 402 94, 438 67, 144 Utility Income $182, 961 95, 128 $278, 089 $344, 079 Income Additions Metro Sewer Board reserves restored to retained earnings (Note 7) 12, 605 11, 837 Debt service reserve restored to retained earnings 48 1, 458 Total Income Additions 12, 653 13, 295 Income Deductions Redemption of debt 30, 000 34, 256 Interest on long-term debt 31, 767 32, 893 Capital outlay charged against income 20, 230 8, 661 Reserve for current year def�rment charge (Note 7) 23, 028 42, 936 Total Income Deductions $105, 025 $118, 746 Balance of Income Available for Transfer to Retained Earnin�s $185, 717 $238, 628 Exhibit 21) Retained Earnings, January 1 968, 671 730, 043 Appropriation of Retained Earnings (Note 5) 022. 453 -n- t Retained Earnin�s December 31 (Exhibit 20) $131, 935 $968 671 (See notes to financial statements) This statement is an integral part of report dated July 6, 1973. -58- 5ource of 5u Pp1Y T ransmi s sion Labor 9, 430 7, 806 Electricity 17, 845 Purification supplies 9, 753 Mate rials 993 4, 430 Rent administration Equipment operation 239 269 Payroll taxes 730 605 Insurance Supplies 1, 066 236 Postage Fuel heating 1, 918 Consulting fees 75 Refunds custome r P rinting Fuel Equipment Schools conferences Equipment rental 17 169 Small tools 45 Repairs 66 14,230 Othe r Mileage Refunds of penalties Totals $42, 177 $27, 745 (See notes to financial statements) This statement is an integral part of report dated July 6, 1973, -59 Citv of Brooklyn Center Exhibit 23 Public Utilities Fund 1 COMPARATIVE WATER DEPARTMENT OPER.ATING EXPEN5E5 Years 1972 and 1971 Classification By Function 1972 1971 Custome r Department Department l�dministration Accountino', Total Total $23, 810 $13, 971 55, 017 50, 22? 17, 845 16, 757 9, 753 9, 754 1, 807 7, 230 4, 226 8, 758 8, 758 7, 626 1, 007 163 l, 678 1, 168 1, 844 1, 082 4, 261 4, 103 2, 500 2, 500 1, 903 191 448 1,941 751 3, 985 3, 985 3, 188 1, 918 967 9, 617 9, 692 683 515 515 520 I 49 401 450 1,160 619 619 628 81 81 410 63 249 102 82 127 266 14, 296 108 166 166 103 21 19 19 11 $51,128 $20,050 $141,100 $104,682 (Exhibit 22) -60- Disposal Pumpin� T ransmi s sion 5hared cost joint facilities Minneapoli s Labor 6, 074 6, 701 Rent Administration Electricity 5, 122 Equipment ope ration Payroll taxe s Materials 738 2, 698 Insurance Postage Consulting fees Fuel equipment Printing Supplies 83 30 Repairs stations mains 25 470 Fuel heating 174 Equipment rental 17 235 Alarm system 934 Small tools 141 Refunds Mileage Metro Sewer Board charge (See below) 241, 079 Legal Totals 249. 124 15, 397 (See notes to financial statements} This stiatement is an integral part of report dated July 6, 1973. -61- City of Brooklyn Center Exhibit 24 Public Utilitie s F und COMPARATIVE SEWER DEPARTMENT OPERATING EXPENSES Years 1972 and 1971 Classification by Function 1972 1971 Customer Department Department Administration Accountin� Total Total 22, 632 13,428 6,071 32,274 30 ,469 8, 758 8, 758 7, 626 5, 122 6, 048 896 163 1, 059 864 2, 516 2, 516 2, 489 3,436 1,244 3, 056 3, 056 1, 873 I,085 1,085 1,309 3, 531 3, 531 682 619 619 585 33 230 263 328 285 362 760 778 495 30 174 I54 64 316 52 17 951 407 69 210 302 475 475 791 21 241,079 208,601 288 288 -0- 34, 035 7, 911 $306, 467 $287, 285 (Exhibit 22) Metro Sewer Board Char�es Note 7 Treatment Works Costs $182, 422 $147, 322 Collection and transmission 86, 193 64, 564 Total Char�es $268, 615 $211, 886 Less: One thirthieth of deferred gain 3, 285) 3, 285) C redit granted for overpayment of 1971 Sewer Bill (Note 7) 24, 251) Total Metro Sewer Board Costs $241, 079 $208, 601 -62- A s s e t s 1-1-72 12-31-72 Balance Additions Retirements Balance Water Department Mains and lines $4, 831, 876 45, 528 877, 404 Structures 405,935 193 406,128 Consumer meters in use 233, 626 12, 670 246 29F Equipment 275, 821 284 276, 105 Land 18, 821 4, 25Q 23, 071 Total Water Department 766, 079 62, 925 5, 829, 004 Sewer Department Mains and lines $5, 233, 021 40, 652 5, 273, 673 Equipment 10, 030 10, 030 Land 550 550 Total Sewer Department $5, 243, 601 40, 652 5, 284, 253 Total $1, 009, 680 $103, 577 $11, 113, 257 (Exhibit 20) (See notes to financial statexnents) This statement is an integral part of report dated Jui 6, 1973. -63- Exhibit 25 C ity of B rooklvn C ente r Public Utilities Fund STATEME NT OF PLANT AND EQUTPMENT AND PROVISION FOR DEPRECJATION December 31, 1972 n r D r ia on Provisio fo ep ec tz 1-1-72 12�31-72 Depreciable Balance Additions Retirements Balance I.�ife (Yearsl 328,609 48,318 376,927 100 145, 974 13, 532 159, 506 30 75, 741 11, 681 87, 422 20 1�J7, 087 11, 324 118, 411 5, 10, 20, 25 -0- 657, 411 84, 855 742, 266 j b10, 674 52, 330 b63, 004 100 9, 760 270 10, 030 5, 10, 20, 25 `0- 620, 434 52, 600 673, 034 $l, 277, 845 $137, 455 $1, 415, 300 (Exhibit 22) (No�e 6) 1 1 1 1 4- 6 Revenue Bonds Pavable Principal Interest Year Gertificate Interest Outstanding Coupons Out- of Numbers Rate 12-31-72 standin� 12-31-72 Maturity 44-49 3.75% 30,000 29 ,962 1974 50-55 3, 75 30, 000 28, 838 1975 56-61 3. 90 30, 000 27, 690 1976 62-68 3. 90 35, 000 26, 422 1977 69-75 3. 90 35, 000 25, 058 1978 76-82 3.90 35,000 23,692 1979 83-89 3.90 35,000 22,328 1980 90-96 3 .90 35 ,000 20,962 1981 97-104 3. 90 40, 000 19, 500 1982 105-112 3, 90 40, 000 17, 940 1983 113-120 3.q0 40,000 16,380 1984 121-128 3.90 40,000 14,820 1985 129-137 3.90 45,000 13,162 1986 138-146 3.90 45,000 11,408 1987 147-155 3.90 45,000 9,652 1988 156-164 3. 90 45 000 7, 898 1989 165-173 3.90 45,000 6,142 1990 174-182 3. 90 45, 000 4, 388 1991 183-191 3.90 45,000 2,632 1992 192-200 3.90 45,000 878 1993 $785,000 $329,752 (Exhibit 20) (See notes to financial statements) This statement is an integral part of report dated July 6, 1973, -65- Exhibit 2 6 City of Brooklvn Center Public Utilities Fund STATEMENT OF REVENUE BONDS PAYABLE December 31, 1972 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 red ee med 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 purpo se s and define s the manne r in which the activitie s 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. 1 -66- C.itV of Brooklyn Center Exhibit 27 Transit Fund BALANCE SHEET (COMPAR.ATIVE) r>ecember 31, 1972 and 1971 December 31, AS5ETS 1972 1971 Current Assets Investments 5 Accounts receivable 64 Due from other funds 2, 190 Due from other governmental agencies 2, 999 Total Current Assets -0- 5, 258 Total Assets -0- 5, 258 LIABILITIES AND SURPLUS Current Liabilities Bank overdraft 4, 883 Vouchers payable 375 Total Current Liabilities -0- 5, 258 Fund Balance Unappropriated Fund Balance (Exhibit 28) -0- -0- Total Liabil:ities and Fund Balance -0- 5, 258 (Exhibit 1) The Transit Fund ceased operations of an internal bus circulator system on July 20, 1972. The books and records of the Transit Fund were closed by order of the City Council dated September 11, 1972. (See notes to financial statementsl This statement is an integral part of report dated July 6, 1973. -67- t Exhibit 28 Citv of Brooklyn Center Transit Fund COMBINED STATEMENT OF REVENUE, EXPENDITURES AND SURPLUS (COMPARATIVE) Years 1972 and 1971 t 1972 1971 1 Unappropriated Fund Balance, January 1 -0- -0- Add: Revenue General fund appropriation 2, 911 6, 440 Metropolitan Transit Commission 6, 211 5, 000 Bus fares collected 2, 207 4, 175 B rooklyn C ente r C hambe r of C omme rce I contribution 500 Brookdale Merchants contribution 172 Interest earned on temporary investments 5 Total Revenue 11, 329 16, 292 Deduct: Expenditures Bus rent 10, 384 14, 861 Adve rti sing 945 1, 431 Total Expenditures 11, 329 16, 2q2 Unappropriated 5urplus, December 31 (Exhibit 27) -0- -0- (See notes to financial statements) This statement is an integral part of report dated July 6, 1973, -68- A5SETS Cash on hand and in depositories Inve stments Accrued revenue Due f rom othe r funds Taxes receivable: Current year's levy Prior years' levies Total Assets LIABILITIES AND FUND BALANCES Accounts payable Due to othe r funds Fund balances (Exhibit 30) Total Liabilities and Fund Balances (See notes to financial statements) This statement is an integral part of report dated July 6, 1973, j -69 Exhibit 29 City of Brooklyn Center Trust and A�encv Funds COMBIIVED RALANCE SHEET (COMPARATIVE) December 31, 1972 and 1971 Agent For In Trust Fi re Public Department Employees' Police Combined Combined Relief Retirement Pension Decembe r 31, Decembe r 31, Association Association Fund 1972 1971 10 30,450 30,460 28,772 12,158 406,956 419,114 291,890 5, 551 5, 551 5, 517 2,076 1,379 3,455 7,443 796 1, 839 1, 552 4, 187 16, 571 1, 1 69 2, 759 1, 773 5, 701 3, 359 1, 965 18, 842 $44Z, 661 $468, 468 $353, 552 8,986 8,986 9,855 2, 715 2, 715 l, 965 7, 141 $447 661 456, 767 343, 697 .1 965 18, 842 $447, 661 $468, 468 $353, 552 (Exhibit 1) r _�o_ Fund Balance, January 1 Add: Revenue S Real estate and personal property taxes Insurance premiurn rebate PERA contributions from enterprise funds: Liquo r sto re s Public Utility Fund Employee contributions Earnings on temporary Balance and Additions Deduct: Expenditures Payment to principal of agency W rite off of tax levy balance s Refund of employee contributions Actuarial study Total Expenditures Fund Balance, Decembex 31 (Exhibit 29 (See notes to financial stateme nts) This statement is an integral part of report dated July 6, 1973. 71- t CitV of Brooklyn Center Exhibit30 Trust and A�encv Funds COMBINED STATEMENT OF REVENUE, EXPENDITURE S AND FUND BALANCES (COMPARATIVE) Years 1972 and 1971 Fi re Public Department Employees' Police Combined Combined Relief Retirement Pension Total Total Association Fund Fund 1972 1971 4, 449 5, 594 $333, 654 $343 697 $228, 805 32, 214 70, 259 59, 151 161, 62� 181, O11 23, 639 20, 495 44, 134 31, 546 9, 055 9, 055 8, 101 6, 544 6, 544 6, 110 18, 344 18, 344 20, 359 84 23, 901 23, 985 17, 584 60, 302 91, 536 $455, 545 $607, 383 $483, 516 58, 334 84, 378 $142, 712 $134, 935 3 17 20 313 7, 884 7, 884 4, 171 -0- 400 58,337 84,395 7,884 $150,616 $139,819 1,965 7,141 $447,661 $456,767 $343,697 -72- ASSET5 Cash in depositories Accrued interest receivable Inve stment s Face Premium or Cost Value (Discount) Basis Certificate of deposit 250, 000 250, 000 U, S, government securities 675, 000 $(12, 048) 662, 952 U. S, government agency securities 3, 263, 000 871 3, 263, 871 Construction loan certificates 1, 132, 000 1, 132, 000 Total Investments $5, 320, 000 $(11, 177) Total Assets LIABILITIES Due contractors (Performance deposits) Unclaimed cash (Law enforcement activities) Due participating funds (Exhibit 33) Total Liabilities (See notes to financial statements) This statement is an integral part of report dated Ju ly 6, 1973. -73 Exhibit 31 City of Brooklvn Center Inve stment T ru st Fund BALANCE SHE�T (COMPARATIVE) Decsmber 31, 1972 and 1971 December 31., December 31, 1972 1971 17, 595 64, 365 155, 885 94, 467 1 1 5, 308, 823 4, 863, 994 $5, 482, 303 $5, 022, 826 47, 557 55, 045 18 18 5, 434, 728 4, 967, 763 5, 482, 303 $5, 022, 826 Exhibit 1) -74- Exhibit 32 City of Brooklyn Center Inve stment T rust Fund STATEMENT OF EARNINGS (COMPARATIVE) December 31, 1972 and 1971 Years Ended December 31, December 31, 1972 1971 Interest Income United States government securities $261, 977 $280, 965 Construction loans 57, 562 41, 830 Brooklyn Center securities -0- 320 Total Interest Income $319, 539 $323, 115 Expenses Audit 711 750 Net In come Distributed t Pa rticipatin� Funds $318, 828 $322, 365� i (Exhibit 33) Explanation The Investment Trust Fund was established in 1956 to provide a uniform and consistent means for investing temporary surpluses of cash. Net income of the fund is distributed annually to each of the participating funds on the basis of the average yearly investment maintained by each fund. The net income and the' effective rate of return on average investment by participatiz�g funds is shown below by years. Rate of Net Year Return Income 1972 6. 30% 318, 828 1971 6. 66 322, 365 19'70 6. 30 250, 408 19b9 5. 90 164, 336 1968 5. 20 115, 880 1967 4. 48 85, 267 t 1966 4. 66 80, 884 1965 3. 80 61, 913 1964 3. 64 48, 367 1963 3. 18 45, 056 1962 3. 17 61, 129 1961 3. 05 55, 939 1960 3. 62 57, 908 1959 3 27 33, 494 1958 2. 62 14, 835 1957 3.12 9,938 1956 2. 77 1, 832 Total Distributed Earnin�s Since Inception of the Fund $1, 728, 379 (See notes to financial statements This statement is an integral part of report dated Ju ly 6,] 75_ City of Brooklyn Center Exhibit 33 Investment Trust Fund CHANGES IN PARTICIPATING FUND BALANCES Year 1972 Balance Net Fund Income of Balance January l, Additions 1972 December 31, 1972 Withdrawals) Distributed 1972 Special Assessment Funds Bond Fund No. 1 28, 04� 18, 800) 1, 468 10, 709 1955 A 151, 827 66, 100) 9, 617 95, 344 1956 AC 165, 809 48, 400) 10, 544 127, 953 1956 B 9, 674 5, 301) 467 4, 840 1957 AB 22, 519 15, 800) 1, 053 7, 772 1958 A 127, 227 8, 901) 8, 110 126, 436 1958 B 171, 077 44 699) 10, 808 137, 186 1959 AB 130, 812 14, 799) 8, 300 124, 313 1960 AB 327, 444 6, 300) 21, 341 342, 485 1961 AB 357, 350 8, 400) 22, 726 371, 676 1963 A 195, 039 6, 201 12, 603 213, 843 1965 A 47, 818 3, 300 3, 224 54, 342 1966 A 58, 573 19, 527 4, 372 82, 472 1969 A 42, 632 28, 600 3, 579 74, 811 1970 Improvement Fund 7, 351 56, 348 2, 621 66, 320 General Debt Retirement Funds 54, 553 21, 357 4, 373 80, 283 Total Debt Retirement Funds $1, 897, 746 $(102, 167) $125, 206 $1, 920, 785 Other Funds Undistributedtax settlement 1, 657 1, 657 General Fund 114 069 53, 712) 3, 057 63, 414 Poor Fund 28 8, 999 70 9, 097 Public Employees' Retirement 1, 696 10, 400 62 12, 158 Liquor Fund 34, 858 34, 000) 588 1, 446 Public Utilities Fund 1, 229, 652 219, 999 82, 835 1, 532, 486 1 Park Concession Fund 1, 345 1, 345) 53 53 Capital Projects Fund 343 152, 900 680 153, 923 Library Sales Fund 82, 342 5, 099) 5, 785 83, 028 Public Utilities Construction Fund -0- 25, 700 731 26, 431 Open Space Land Acquisition Fund 48, 803 48, 800) 1, 091 1, 094 Police Pension Fund -0- 200 1; 413 1, 613 Transit Fund 5 5) -0- -0- Public Utilities Revenue Bond Fund -0- 23, 500 1, 160 24, 660 Federal Revenue Sharing Fund -0- 71, 210 187 71, 397 State Aid Construction Fund 1, 553, 528 (121, 300) 95, 700 1, 527, 928 Bond Fund 3, 348 -0- 210 3, 558 Total All Participatin� Funds $4 967 763 148, 137 $318, 828 $5, 434, 728 (Exhibit 32) (Exhibit 31) (5ee notes to financial statements) This statement is an integral part of report dated July, 6, 1973. -76_ Investment in Fixed Assets Land and land improvements Building and building improvements Park properties (including building) Furniture and fixtures Departmental equipment Storm sewers and street projects Total Investment in Fixed Assets Sou rce s of Inve stment General indebtedness General fund revenues (includes ad valorem levies) Liquor store revenue certificates Contributions received Special assessment projects: Owners, contractors, and City share Hennepin County Capital projects fund: General obligation bonds Ad valorem tax levy 1968 and 1969 Sale of land Transfers of surplus from speeial assessment debt service funds Transfer from Mayor CounciPs Contingency Fund Interest earnings on investments ParkConcession Fund concessions revenue Total Sou rc e s of Inve stment (See notes to financial statements) This statemerst is an i�tegral par� af report dated July 6, 1973. 77_ t CitY of Brooklyn Center Exhibit 34 SUMMARY STATEMENT OF GENERAL FIXED ASSETS December 31, 1972 Balance Year 1972 Balance December 31, 1971 Acquisitions Disposals December 31, 1972 306,934 2,079 309,013 2,708,215 22,863 2,731,078 1, 249, 549 160, 877 1, 410, 426 131, 909 14, 413 146, 322 859, 805 49, 321 9, 252 899, 874 7, 513, 941 278, 590 7, 792, 531 $12, 770, 353 $528, 143 9, 252 $13, 289, 244 605, 207 605, 207 1, 159, 581 $169, 365 9, 252 1, 319, 694 304, 571 30 4, 571 278, 630 42, 069 320, 699 7, 336, 761 278, 590 7, 615, 351 t 177,180 177,180 2, 250, 000 2, 250, 000 265, 243 265, 243 38, 654 38, 654 161,907 36,479 198,386 3,000 3,000 189, 619 956 190, 575 -0- 684 684 $12,770,353 $528,143 9,252 $13,289,244 (Exhibit 1 -78- Exhibit 3 5 Citv of Brooklv� Center SUMMARY STATEZv1ENT OF GENERAL LONG-TERM DEBT AND INTEREST (COMPARATIVE) December 31, 1972 and 1971 December 31, Amount Available and to be Provided 1972 1971 Amount available in debt service funds (See Exhibit 10 Park bonds 33, 706 30, 436 Library bonds 8, 818 662 Building and improvement bonds 40, 199 29, 913 State aid street bonds 6, 370 6, 360 Certificates of indebtedness 10, 533 10, 025 Total Amount Available 99 626 84 396 Amount to be provided in future periods: For interest $l; 986, 033 $2, 225, 191 For principal 3, 808, 5�7 3, 8$3, 500 Total Amount to be Provided $5,79 4, 570 $6, 108, 691 Total Amount Available and to be Provid�d $5, 894, 196 $6, 193, 087 General Debt and Interest to be Paid in Future Periods (Exhibit 36) General debt (principal portion): Park bonds 155, 000 175, 000 Library bonds 120, 000 130, 000 Building and improvement bonds 2, 235, 000 2, 270, 000 State aid street bonds 1, 005, 000" 1, 030, 000 Assessments on city properties (Note 8) 293, 537 278, 500 Total General Debt (Principal PortionkExhal�it3/�) $3, 808, 537 $3, 883, 500 Interest payable in future period: Bonds (Exhibit 36 $2, 085, 659 $2, 309, 587 Total General Debt and Interest to be Paid in Future Periods $5, 894, 196 $6, 193, 08? Exhibit 1) (See notes to financial. statements) This stat�ment is an inte ral art of re ort dated Ju�. 6 1�73. g P P Y _79 General Debt Principal Portion Payment Total Building State Aid Assessments Due Principal Total Park Library Improvement Street Payable No Interest Durin� Interest Princ.ipal Bonds Bonds Bonds Bonds General Fund 1973 411,699 192,600 20,000 10,000 110,000 25,000 27,600 1974 422,125 212,727 20,000 10,000 125,000 25,000 32,727 1975 416, 434 217, 727 20, 000 10, 000 130, 000 25, 000 32, 727 1976 444,457 257,727 20,000 10,000 140,000 55,000 32,727 1977 420,857 247,727 20,000 10,000 130,000 55,000 32,727 1978 412, 907 252, �27 20, 000 10, 000 135, 000 55, 000 32, 727 1979 389 632 242, 727 20, 000 10, 000 125, 000 55, 000 32, 727 1980 361,938 227,727 15,000 10,000 115,000 55,000 32,727 1981 338 216,725 10,000 120,000 55,000 31,725 1982 310,603 200,123 10,000 125,000 60,000 5,123 1983 298, 210 200, 000 10, 000 130, 000 60, 000 1984 290,570 205,000 10,000 135,000 60,000 1985 267, 545 195, 000 135, 000 60, 000 1986 2 59, 840 200, 000 140, 000 60, 000 1987 246,765 200,000 140,000 60,000 19gg 243, 660 210, 000 150, 000 60, 000 1989 229,875 210,000 150,000 60,000 1990 66, 075 60, 000 60, 000 1991 62,025 60,000 60,000 4 6 3 808 537 155 000 $120,000 $2,235,000 $1,005,000 $293,537 Totals $5, 89 19 (Exhibit 3 5) Note 8) (See notes to financial statements) _gp_ This statement is an :integral part of report dated July 6. 1973. Citv of Brooklyn Center Exhibit 36 SCHEDULE OF GENERAL LONG-TERM DEBT AND INTEREST BY MATURITIES December 31, 1972 Inte re st Pavable Building State Aid Total Park Library Improvement Street Interest Bonds Bonds Bonds Bonds 219 6,392 4,530 145,275 62,902 209, 398 5, 585 4, 160 138, 125 61, 528 193, 707 4, 765 3, 790 130, 000 60, 152 186, 730 3, 945 3, 420 121, 550 57, 815 173, 130 3, 125 3, 040 112, 450 54, 515 160, T80 2, 305 2, 660 104, 000 5I, 215 146 05 1 485 2 280 95 225 47,915 ,9 134, 211 665 1, 900 87, 100 44, 546 122, 254 1, 520 79, 625 41, 109 110, 480 1, 140 71, 825 37, 515 98,210 760 63,700 33,750 85, 570 380 55, 250 29, 940 72,545 46,475 26,070 59, 840 37, 700 22, 140 46, 765 28, 600 18 165 33 660 19 500 14, 160 19, 875 9, 750 10, 125 6, 075 6, 075 2, 025 2, 025 $2, 085, 659 $28, 267 $29, 580 $1, 346, 150 $681, 662 (Exhibit 35) -81- Citv of Brooklvn Center NOTES TO FINANCIAL STATEMENTS Year 197"L Note 1: The City Charter grants the City Council full authority to control the financial policies of the City. The Council delegates the responsibility for the administration and execution of their policies to the City Manager who is the chief accounting officer for the City. The accounting and bookkeeping of all City activities are centralized in the Finance Department. The Finance Department has the responsibility for maintaining and prescribing all financial records, establishing and maintain- ing internal control, and the preparation and 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 s stem employed by the Public Utilities Fund Y 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 Sheet All Funds and Account Groups (Condensed Form) Exhibit 1" is presented as an information statement only. The reader is cautioned that the figures as shown under the "Combined Total" column are a combining of unlike purpose groups (funds) and cannot be construed as indicative of the over all financial position of the 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. -82- Citv of B rooklyn Cente r NOTES TO FINANCIAL STATEMENTS Year1972 Note 3: Special Assessment Funds These funds are used to account for construction and financing of public improvements such as streets, curbs, storzn sewers, sanitary sewers and the water system. The accounting is arranged so that the related activities of project construction, financing of construction and the assessment of costs to property owners are recorded within the same fund entity. Budgetary accounts are employed to provide a means of control over expenditures incurred for construction. Costs are assessed to property owners by the special assessments division, under the supervision of the engineering and public works department, after total project expenditures are verified with the finance department. The nominal differences on street and sewer projects between assessed and actual costs, which are caused when costs are spread over many properties, are guarenteed by the City. This amount is 10 for the year 1972. (See Exhibit 14. Note 4: Municipal Liquor Fund Merchandise inventories are valued at current wholesale prices and the amount of cash discounts and promotional discounts ar� taken into income as a reduction of cost of sales during the year of purchase. This method of accounting for inventory and discounts facilitates the preparation of internal reports because it establishes a uniform basis of measuring gross profit margins. The uniformity of gross margin measure is necessary for purposes of good internal control. (Periodically perpetual inventories are verified by count and gross margins are examined in the light of past experiences to detect any variances that may exist. This method of valuation over states 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, 1972 and 1971 (on Exhibit l,6) are stated approximately $16, 000 and $12, 000, respectively, over actual cost. The effect on operating resuTts a� reflected for the Year 1972 on Exhibit 19 is immaterial because of the offsetting effect between beginning of the year and end of the year inventory. The Lyndale Avenue store (Store #1) and the Brooklyn Blvd, store (Store #2) are located on city-owned properties. The lease fr.� the Brookdale Shopping Center store (Store #3) expired January 31, 1972 and operation at that location has been discon?:inued. Store #4 is located in the Northbrook Shopping Center and �he premises are occupied pursuant to terms of a lease which expires October 31 1976 -83- Citv of Brooklyn Center NOTES TO FINANCIAL STATEMENTS Year 1972 Note 5: Public Utilities Fund Public Utilities revenue bonds were issued during 1963 for the purpose of financing an addition to the water works system. These bonds, together with related interest and service charges are payable solely from the Public Utilities Fund and are not considered a general obligation of the City. The resolution authorizing and directing the issuance of these bonds defines the method of accounting for the utilities fund and imposes certain covenants and restrictions which serve the purpose of protecting creditors interests. As required by Paragraph l0e of the issuing resolution, an analysis of each account balance appears below: Construction Account (Exhibit 20) Proceeds of bond sale $1, 000, 000 Add: Investment earnings thru 1971 231 9b9 1972 invesi,ment earnings 32, 925 Total Investment Earnings (Exhibit 20) 264, 894 Deduct: Construetion expenditures thru 1971 631, 133 1972 construction expenditures 4, 444 Total Construction Expenditures 635, 577 Construction Account Balance (Exhibit 20) 629 317 Debt Retirement Fund (Exhibit 20) Cash on hand with paying agent to redeem coupons and principal maturing 1/1 /73 45, 821 Accumulated amounts set aside to meet 1973 requirements for interest and principal Cash 92 Investments with accrued interest 66 263 Reserve account investments 75, 000 Total Debt Retirement Fund 187, 176 -84- Citv of Brooklyn Center NOTES TO FINANCIAL STATEMENT5 Year 1972 Aiote 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 authorizing the sale of revenue bonds is presented below: Revenue Construction Bond Reserve Fund Account Account Restricted Assets 12 /31 /72 $629, 317 $112, 176 75, 000 Less: 1) Liabilitie s payable from restricted funds 45, 821) 21 Unexpended bord proceeds 364, 423) Restricted Sur luses at 12 /31 /72� $264, 894 66, 355 75, 000 P Investment plant expansion and related reserve Since 1963 the Public Utility Fund has been accumulating funds for the purpose of expanding their investment in plant and equipment to supply water to the residents of the City. The present glan for expansion of facilities has a cost estimate of $6, 184, 000. The planned capital outlays include the construction of water mains, a 1. 5 MG water tower, and a 10 MG water treatment plant with completion estimated during 1978. The amount of $1, 022, 453 has been set aside or reserved to partially meet the financing requirements of this capital budget. A plan for the systematic accumulation of the remaining balance is currently under study and is to be adopted during 1973, Note 6: Public Utilitie s Fund Annual depreciation charges to income (which are non-cash expenses) have the effect of conserving monies or other current type assets within the entity because they reduce the balance of retained earnings available for purposes of rate reduction or transfer. A portion of the monies so conserved (or reserves accumulated) has been reinvested in plant facilities and accordingly these "depreciation provisions" are segregated as to the portion of reserves which have been reinvested in plant (1972, $905, 266; 1971, $892, 3Z4) and those amounts held in Reserve (1972, $510, 034; 1971, $385, 381) as funded depreciation. -85- Citv of Brooklvn Center NOTES TO FINANCIAL STATEMENTS Year 1972 Note 6: Public Utilities Fund C ont' d This presentation of assets at gross cost and the reflection of accumulated depreciation as a reserve on the right hand side of the balance sheet is peculiar to utility accounting and at odds with normal commercial concepts which usually reflect accumulated depreciation as a reduction against the asset cost so as to show the net remaining cost of plant and equipment not yet amortized to expense. Because the investment in plant and equipment is of such para- mount importance, the balance sheet presentation used, with an informative emphasis on source and application of monies for plant investment, is considered the most appropriate, However, if the presentation employed usual commercial concepts, the balance of plant, equipment and construction funds (1972, $11, 748, 567; 1971, $11 616 509) would be reflected net o£ depreciation provisions at a total of (1972, $10, 333, 267; 1971, $10, 338, 664). Note 7: Public Utilities Fund Metro 5ewer Board Receivable and Reserves Pursuant to enacted legislation (Metropolitan 5ewer Act- Chapter 449 Session Laws) the Metropolitan Sewer Board, as of January 1, 1971, assumed ownership of all existing interceptors and treatment work� needed to implement a comprehensive plan for the collection, treatment, and disposal of sewage in the seven county metropolitan area. Under the terms of the Act the sewer board is obligated to reimburse each local government for the cost of facilities acquired. This cost or purchase price of facilities is based on depreciated replacement cost value as of December 31, 1970 as determined by cost analysis and engineering studies. This current value receivable is to be paid by the Metropolitan 5ewer Board over a period of 30 years and the amount will earn :interest at an annual rate of 4°�0. 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 1972 consisted of principal and interest and the amount of credit offset against 1972 s�wer service billings totaled $11, 485, leaving a balance due over the next 28 yeaxs of $238, 389. (Exhibit 20) -86- Citv of Brooklyn Center NOTES TO FINANCIAL 5TATEMENTS Year 1972 Note 7: Public Utilities Fund Metro Sewer Board Receivable and Reserves Cont'd In addition to providing for reimbursement of facility costs the Act empowers the sewer board to defer certain reserve capacity costs when they are disproportionate to the economic resources of the local governmental unit involved. These deferred costs are then allocated to all participating communities upon the basis of population and assessed valuation. The provisions for deferment, essentially are designed to provide temporary economic relief to the governmental units affected by the Act and are repayable. The current year deferment charge ($64, 843, Exhibit 20) is collectible over the next five years. The current value receivabl� $238, 904, and the current year deferment charge, $64, 843, are restricted as to use. These amounts are to be applied to payment of sewer service costs and accordingly on the balance sheet (Exhibit 20) are shown as restricted reserves. Exhibit 20 also reflects a deferred gain on the sale of assets to the sewer board. The original gain totalled $98, 545 and represents the recovery of past depreciation charges. The amount of gain is being amortized as a reduction of sewer service billings over a period of thirty years (the term of the current value receivable credit). The current year's amortization in the amount of $3, 285 has been applied as a reduction of Metro Sewer Board charges (see Exhibit 24) and the amount remaining to be amortized in future years is reflected on Exhibit 20 at the remaining amount of $91, 975. Note 8: Summary 5tatement of General Lon Debt and Interest Special assessments which relate to improvements benefiting City-owned properties total $293, 537 as of December 31, 1972. The payment for these improvements (with no interest charge) has been scheduled over a period extending through 1982. These assess- ments are obligations of the general fund and payment is planned under normal budget procedures, whereby the needed monies will be appro- priated during the years as each installment becomes due. These notes are an integral part of report dated July 6, 1973. -87- 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 1962 1963 Population 26, 585 (3�) 29, 203 Real Property Assessed Value: Homestpad 5, 735, 766 5, 816, 001 Excess and Non-Homestead 2, 831, 501 4, 106, 321 Tot al Assessed Value 8, 567, 267 9, 922, 322 Estimated Value: Full and True $30, 021, 816 33, 596, 832 Market $90, 975, 200 $101, 808, 581 Personal Property Assessed Value 1, 130, 847 1, 275, 51$ Estimated Value: Full and True 2, 946, 702 3, 393, 313 Market 7, 940, 106 10, 179, 939 Total Real and Personal Property Assessed Value 9 698 114 11, 197, 840 Estimated Full and True Value $32, 968, 518 36, 990, 145 Estimated Market Value $98, 915, 306 $111, 988, 520 Ratio of Total Assessed Value to Total Estimated Full and True Value .29416:1 30272:1 Estimated Market Value 0980�4:1 09999:1 Per Capita Valuations Assessed Value 361.09 397.04 E stimated Full and T rue Value 1, 227. 51 1, 311.. 57 Estimated Market Value 3, 682. 90 3, 970. 80 1 -88- Schedule 1 CitY of Brooklyn Center ASSESSED VALUE AND ESTIMATED TRUE VALUE AND MARKET VALUE OF ALL TAXABLE PROPERTY By Bud�et Years 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 29, 024 (E) 30, 108 31, 500 (E) 31, 570 31, 000 (E) 34, 306 (E) 34, 717 (E) 35, 173 36, 370 (E) 36, q08 (E) 5, 949, 469 6, 101, 889 6, 262 938 6, 378 859 10 148 53 2 11 70 877 2 2 72 3 i 9 9 1 4 59(2) 6, 882, 636 1 5, 9_ 6, 478(2) 5} i 4, 432, 475 5, 694, 244 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) �5) 10, 381, 944 11, 796, 133 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) 34, 879, 063 38, 711, 130 39, 765, 314 45, 335, 857 47, 862, 541 58, 283, 382 61, 796, 482 75, 340, 288 76, 641 045 5) $104, 637, 189 $116, 133, 390 $119, 295, 942 $136, 007, 571 $143, 587, 623 $174, 850, 146 $185, 389, 446 $226, 020, 864 $229, 923, 135 $249, 328, 665 �1) �1) (1) l, 336, 486 1, 258, 488 1, 222, 654 1, 301, 952 1, 574, 574 1, 603, 159 1, 619 077 1, 588, 260 1, 313, 422 2, 403, 743 3 575 4 3 36 9 9 4, 504 3, 271, 781 3, 511, 171 3, 410. 110 3, 510, 323 3, 548, 068 3, 464, 717 3, 576, 728 5) t 10, 727, 847 10, 093, 512 9, 815, 343 10, 533, 513 10, 230, 330 10, 530 g69 10, 644, 204 10, 394, 151 10, 730, 184 5, 590, 100 (1) �1) �l) �1) 11,718,430 13,054,621 13,371,017 15,591,970 16,816,$94 20,943,746 22,265,388 27,560,202 27,770,379 91,081,877 38, 455, C12 42, 075, 634 43, 037, 095 48, 847, 028 51, 272, 651 61, 793, 705 65, 344, 550 78, 805, 005 80, 217, 773 5) $115,365,036 $126,226,902 $129,111,285 $146,541,084 $153,817,953 $185,381,115 $196 ,033,650 $236,415,015 $240,653,319 $254,918,765 30473:1 31027:1 31069:1 31920:1 32799 33893:1 34074:1 34973:1 34619:1 5 I O .10158:1 .10342:1 .10356:1 .10640:1 .10933:1 .11298:1 .11358:1 .11658:1 .11540:1 .35730:1 403. 75 433. 59 424.48 493. 89 509. 60 610. 50 641. 34 783. 56 763. 55 2, 467. 81 (4) 1, 324. 59 1, 397. 49 1, 366. 26 1, 547.26 l, 553. 72 1, 801. 25 1, 882. 21 2, 240. 50 2, 205. 60 5) 3, 974. 82 4, 192. 47 4, 098. 77 4, 641. 78 4, 661. 15 5, 403, 75 5, 646, 61 6, 721. 49 6, 616. 81 6, 906. 87 Note s to Schedule (1) Includes $306, 708 exempt property for replacement tax purposes authorized by laws of 1967, Chapter 32, extra session 2) Include s exce s s home stead I 3) Exclude s exce s s home stead (4) Determination of assessed valuation calculation changed by state law enacted in 1971; assessed value is now approximately three times as great as before the enactment of the new law. 5) Due to above change, figures no longer available. -89- Area School District County Year Voc-Tech #286 #279 #281 #11 Special Collectible Citv School (Earle Brown) (Osseo) (Robbinsdale)(Anoka) Districts �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, 70 81. 80 81. 84 29, 57 1956 42.70 175.50 120.80 95.40 85.80 33.70 1957 44.00 lOb.60 119.90 108.64 96 .55 31.87 1958 46, 47 126. 91 119. 51 108. 64 90. 15 38. 13 1959 52. 05 130. 94 146. 66 115. 18 104, 95 39. 32 1960 51. 00 167. 56 157. 64 120. 10 114. 70 40. 14 1961 48.26 189.64 163.00 139.20 123.53 41.46 1 9 6 2 4 8. 5 4 2 1 1. 5 9 1 7 9. 9 9 1 5 8. 6 9 1 3 4. 0 0 4 5. 4 0 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 b9 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 2q4.55 295.42 215.01 297.66 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. 71�1) 2. 644(1) 55. 786(1) 54. 023(1) 44. 72� 1) 54. 920(1) 27. 014(1) Area Tax Levies on Prope rty Within Brooklyn 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 23g, 666 76, 912 170, 396 24, 547 1958 3C�3, 466 134, 960 202, 292 24, 298 1959 327, 629 237, 021 228, 907 30, 387 1960 427,311 465,174 248,382 42,211 1961 497,907 665,299 320,697 43 ,880 1962 551,349 771,611 367,691 59,153 1963 587,665 830,918 524 ,099 76,198 1964 622,578 883,842 526,189 100,102 1965 668,961 976,585 614,756 140,923 1966 728, 353 l, 003, 287 623, 412 171 926 1967 836 1,142,570 790,174 210,428 1968 888, 684 1, 200, 483 901, 846 295, 160 19b9 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 1, 506, 993 1, 317, 268 599, 411 (1) Formerly #118 (2) Formerly #28 (3) Formerly #24 (4) Formerly #29, #220 _qp_ City of Brooklyn Center Schedule TI TAX RATES AND TAX LEVIES Years 1953 Throu�h 1973 Tota� City, School, County and State N. H. S. State Dist. #286 Dist. #279 Dist. #281 Dist. #11 N.H.S, H.S, (Earle Brown) (Osseo) (Robbinsdale) (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 3.98 261.05 206.35 180.95 171.35 9.15 3.81 191.62 214 193. 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. 82 268. 92 245. 29 17. 14 8.22 345 309 95 270.41 2_55, 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, 89 324 99 280 75 281. 99 352. 40 327. 91 279, 67 304.43 1 388.35 374.00 306.29 386.23 425.89 426.76 346.35 424.49 379.40 345.09 333.99 378.22 317.11 299.9b 281.07 297.17 100. 162(1) 98. 399 389. 103 96, 652 C ounty Total Special 5chool Districts City State Total City, Schools, County State 233, 421 82, 946 74, 169 12, 765 403, 301 305,243 104,114 95,808 12,651 517,816 410, 787 136, 72$ 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, 86, 365 823, 954 252, 434 333, 000 54, 601 l, 463 989 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, 108 2, 758, 952 2,018,880 528,874 561,236 139,015 3,248,005 2, 132, 711 615, 335 593, 890 147, 785 3, 489, 721 2,401,225 779,230 650,137 153,954 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, 72q 5, 955, 600 1, G�4, 770 1, 090, 248 8, 740, 618 6, 346, 973 2, 099, 064 1, 202, 152 9, 648, 189 4, 825, 014 2, 234, 127 1, 195, 237 8, 254, 378 4, 937, 581 2, 460, 486 1, 340, 543 8, 738, 610 (1) Due to determination of assessed valuation calculation changed by state law enacted in 1971, the resulting mi11 rate is approximately one-third as great as before the enactment of the ne�v law. Schedule III City of Brooklyn Center NOTES TO TAX RATES AND TAX LEVIE5 Years 1954 Throu�h 1973 Tax Limitation by Statute: $54.00 per capita exclusive of taxes levied for local improvements (as amended) Debt Service not 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 1, second half July 1 Real Estate first half May 31, second half October 31 No discount allowed Penalties for Delinquency: Personal Property 8 Real Estate June 3 July 4%, August 5%, 5eptember 6 October 7%, November and December 8%, after first Monday in January 10% Tax sale date second Monday in May Taxes are collected by the County Treasurer of Hennepin County Tax collections are distributed in the proportion of the City levy to all levies -92- Collections Percentage Collections of Current of Levy of Prior Total Year's Taxes Collected Year's Taxes Year Tax During Fiscal During Fiscal During Fiscal C ollected Levy Pe riod Pe riod Pe riod 1963 555, 178 545, 757 98. 30 4, 712 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, 069 1967 799, 792 776, 663 97. 11 7, 710 1968 868 ,807 851,452 98.00 14,205 1969 1, 068, 236 1, 036, 863 97. 06 16, 612 1970 1, 112, 080 1, 086, 177 97. 68 20, 620 1971 1, 224, 739 l, 112, 685 90, 85 22, 252 1972 1 195, 237 1, 163, g12 97. 38 96, 219 Note The C ity' s taxe s a re the only one s inc luded in thi s table -93- Schedule IV City of Brooklvn Center TAX LEVIE5 AND TAX COLLECTIONS Last Ten Years Ratio of Accumulated Ratio Delinquent of Total Accumulated Taxes to Total Collections Delinquent Current Year Collections to Tax Levv Taxes Tax Levy 550, 469 9915:1 14, 446 02602:1 581, 766 9900:1 19, 926 0339i 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 45, O11 05181:1 1, 053, 475 9862 59, 742 05593:1 1 106 797 9952:1 65, 026 05847:1 1, 134, 937 9267 30, 326 02476:1 1, 260, 131 1. 0543:1 48, 409 04050:1 -94- Current Special i Assessrnents Amount Ratio of Installments Becoming Collected Current Fiscal Due During Currently During Collections to Period the Fiscal Period the Fiscal Period Amount Due 1961 $383,274 $353,380 .9220:1 1962 $418,706 $383,202 .9152:1 1963 460,329 418,657 .9095:1 1964 449,253 383,848 .8544:1 1965 444 393,593 .8845:1 1966 429, 759 394, 942 9190: 1 1967 490,397 458,324 .9346:1 1968 505,409 466,466 .9229:1 1969 538. 959 476, 727 8845:1 1970 680 198 605, 385 8900: 1 1971 844, 933 660, 490 7817:1 1972 8 07, 317 647 695 8023: 1 _9 5 City of Brooklyn Center Schedule V SPECIAL A5SESSMENT COLLECTIONS Last Tweleve Years Total Current and Delinquent Pe rcentage Balance Assessments Uncollected Collectect Uncollected At Year End Throu�h 12 /31 /72 As of 12 /31 /72 45 796 99 3156 2, 623 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 2 3 6 99. 926 4 9 i 142,441 99.1530 4,281 136, 043 98. 1468 9, 988 165, 592 98. 5931 9, 570 232, 71? 91, 4251 72, 452 270,543 80.2281 159,622 -96- Penaltie s and Inte re st Lic ense s Fines Fi s c al F rom and and Period Property Taxes Permits Forfeitures 1963 4,647 32,308 24,813 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 82,098 31 ,490 1969 6,296 77,773 44,031 1970 10,076 49 ,859 57 ,970 1971 31,792 67,837 53,638 1972 17,471 110,455 37,172 -97- i Schedule VI City of Brooklyn Center REVENUES OTHER THAN PROPERTY TAXES AND SPECIAL ASSES5MENT5 Last Ten Years Revenue from Charges for Revenue in Excess Use of Current of Expenditures Shared Money and Services and other Public Liquor Taxe s P rope rty Revenue Utilitie s 5to re s 0 68 28, 451 88, 573 50, 460 89, 058 $1 2, 9 101, 578 20, 671 217, 644 83 793 �99 565 122,588 29,954 129,819 55,024 106,541 24 540 249,364 109,256 114,227 156, 536 1 232, 615 40, 025 118, 511 125, 962 125, 310 325,221 82,641 113,947 131,280 146,551 i 296,639 61,581 339,363 161,925 175,884 376, 359 47, 322 125, 944 331, 351 172, 761 I 414, 936 37, 070 233, 537 276, 935 168, 406 612,277 33,494 251,775 183,651 133,972 j t -98- i Schedule VII City of Brooklyn Center EXPENDITURES FOR 5ELECTED FUNCTIONS Last Ten Yeaxs Public Parks Fiscal General Sa.fety and and Period Government Welfare Hi�hwavs Recreation 1963 173,736 194,900 229 125,352 1964 169,019 230,102 293,301 175,04g 1965 194,888 258,719 291,306 167,042 1966 218 ,335 290,232 306,616 310,219 1967 217,138 338;187 326,357 235,834 1968 244,010 391,394 359,428 235,723 1969 250,841 449,426 484,154 238,011 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 -99- Gross Fiscal E stimated A s se s sed B onded Pe riod �opulation V alue Debt 1962 26,858 9,698,114 5,217,400 1963 28,203 11,197,840 5,396,100 1964 29,024 11,718,430 5,607,800 1965 30,108 13,054,621 5,188,500 1966 31,500 13,371,017 5,263,200 1967 31, 570 15, 591, 970 4, 784, 800 1968 33,000 16,816,894 5 068 400 1969 34,306 20,943,746 7,626,400 1970 35, 173 22, 265, 388 10, 733, 000 36 370 27 560 202 10 005 000 197� 1972 36, 908 27, 770, 379 9, 291, 000 t j -100- 5chedule VIII City of Brooklyn Center �2ATI0 OF NET BONDED DEBT TO A5SESSED VALUE AND NET BONDED DEBT PER CAPITA Last Eleven Years Less: Amount Ratio of Net Bonded Debt to Net Bonded in Debt Net Bonded Assessed Debt Per Service Funds Debt Values Capita 2, 097, 219 3, 120, 181 3217:1 116. 17 920, 472 4, 475, 628 3996:1 158. 69 1, 031, 779 4, 576, 021 3904:1 157. 66 1, 591 659 3, 596, 841 2755:1 119. 46 1, 499 �9b 3, 764, 104 2815:1 119. 49 1,773,834 3,010 .1931:1 95.37 1, 986, 325 3, 082, 075 1833:1 93. 40 1, 534, 261 6, 092, 139 2909: 1 177. 58 1, 805, 385 8, 927, 615 4010:1 253, 82 1, 793, 277 8, 211, 723 2980:1 22 5. 78 1, 774, 258 7, 516, 742 2707:1 203. 66 1 -101- Schedule IX City of Brooklyn Center 5TATEMENT OF LEGAL DEBT MARGIN December 31, 1972 Assessed value $91, 081, 877 Debt limit 6. 67% of assessed value 6, 075, 161 Total bonded debt $9, 291, 000 Deductions: 1. Debt 5ervice Funds (General Obligation) 67, 415 2, Special Assessment Bonds 4, 991, 000 3. Utility revenue bonds 785, 000 $5, 843, 415 TotaT Debt Applicable to Debt Limit 3, 447, 585 Le�al Debt MarQin, December 31, 1972 2, 627, 576 -102- Schedule X Citv of Brooklyn Center COMPUTATION OF DIRECT AND OVERLAPPING DEBT �e cember 31, 197Z City of Brooklyn Center Share Net Debt Governmental Unit Outstandin� (1) Per Cent (2) Amount City of B rooklyn Cente r 7, 516, 742 100. 00% 7, 516, 742 3) Hennepin County 17, 921, 183 2. 7 483, 872 Hennepin County Hospital 21, 012, 568 2. 7 567, 339 Hennepin County Park District 9, 384, 282 2. 7 253, 376 Hennepin County Library 9, 487, 379 4. 8 455, 394 I. S. D, No. 281 37, 228, 000 10. 2 3, 797, 256 I.S.D. No. 11 41, 265, 675 5. 9 2, 434, 675 I. S. D. No. 279 26, 682, 781 26. S 7, 150, 985 I. S. D. No. 286 2, 600, 000 100. 00 2, 600, 000 I,S,D, No, 287 (Vocational) 23, 822, 770 4, 9 1, 167, 316 Metropolitan Council 127, 051, 000 1. 5 1, 905, 765 Metropolitan Transit Commissipn 9, 991, 167 1. 5 149, 868 1 Total Direct and Overlappin� Debt (Net of 5inkin� Funds) $28, 482, 588 (1) Gross outstanding general bonded debt less amounts in debt service funds (2) Ratio of assessed valuation of property subject to taxation in overlapping unit to value of property subject to taxation in the City of Brooklyn Center (3) Includes $3, 422, 753 net debt outatanding to be paid from special assessments 1 -103- Year Principal Intere st 1963 33,000 14,800 1964 33,300 13,855 1965 33,300 14,977 1 66 9 50,800 24,213 1967 59,400 22,280 1968 51,000 19,604 1969 51 000 37, 608 1970 49, 600 164, 778 1971 68,800 228,351 1972 90,000 223,927 -104- 5chedule XI City of Brooklyn Center RATIO OF ANNUAL DEBT SERVICE EXPENDITURES FOR GENERAL BONDED DEBT TO TOTAL GENERAL EXPENDITURES Last Ten Years Total Total Ratio of Debt Debt General Service to General Service Expenditures Expenditures 47 800 772, 978 6. 18 47, 155 882, 557 5. 34 48, 277 942, 720 5. 12 75, 013 l, 335, 428 5. 62 81, 680 1, 185, 075 6. 89 70,604 1,369,842 5.15 88, 608 1, 591, 987 5. 57 214,378 1 12,77 297, 151 2, 210, 671 13. 44 313,927 2,219,355 14.14 -105- I Net Gross 1) Revenue Year Revenue Expenses Available 1963 490, 524 242, 525 247, 999 1964 638,094 239,356 398,738 1965 586,979 291,643 295,336 1966 753,829 269,371 484,458 1967 669,098 282 ,528 386 ,570 1968 743,316 292,818 4�0,49$ 1969 854,367 360,249 494,118 1970 1,060,322 400,824 659,498 1971 1, 140, 730 558, 189 582, 541 1972 768, 673 447, 567 321, 106 (1) Excludes depreciation and interest on bonds. -10b- Schedule XII City of Brooklyn Center SCHEDULE OF REVENUE BOND COVERAGE Last Ten Years Ratio of Net Debt Service Revenue to Principal Interest Total Debt Service 13, 000 21, 572 34, 572 2 to 1 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► 300 7. 3 to 1 30, 000 31, 767 61, 767 5. 2 to 1 -107- City of Brooklyn Center Schedule X1�II MISCELLANEOUS STATISTICAL FACTS December 31, 1972 Date of Incor oration Februar 14, 1911 P Y Date of Adoption of City Charter November 8, 1966 Effective December 8, 1966 Form of Government Council Manager Fiscal Year Begins January 1 Area of City 8 1/2 square miles Miles of Streets: Gity 97. 94 Stat e 12 3 8 County 5. 82 Miles of Storm Sewers 36. 90 Number of Street Ligh�,s 785 Building Permits: Number of Permits Issued: 1972 708 1971 425 1970 404 1969 460 1968 544 1967 493 1966 430 1965 465 1950 1964 inclusive 9, 452 Estimated Cost: 1972 $19, 907 041 1971 8, 4$7, 763 1970 7, 499, 386 1969 $10 ,441,322 19bg $13 ,111,654 1967 7,922,813 1966 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 Numbe r of Employe e s 3 5 Vehicle Patrol Units 8 -108- Schedule XIII C ont' d City of Brooklvn Center MISCELLANEOUS STATISTICAL FACTS December 31, 1972 Parks and Recreation: 288 acres developed for regular use, 200 additio.nal acres of City- owned land designated for parks and playgrounds to be developed. Full-time employees 14 Part-time employees 350 (seasonal) 5upervised playgrounds 1? Park shelters 17 Ice skating rinks 17 Hockey rinks 6 Softball diamonds �6 Baseball diamonds 5 Wading pools 2 Tennis courts 4 Basketball courts 6 Education: Public 5chools: School Districts within Brooklyn Center (4) No. 11 No. 286 No. 281 No. 279 (Anoka) (Earle Brown) (Robbinsdale) Osseo Total �chool buildings 32 2 27 17 School buildings under construction School buildings within Brooklyn Center 1 2 1 3 Total students registered 31, 179 2, 381 26, 240 13, 700 Students from Brooklyn Center registered 1, 584 2, 381 1, 877 5, 550 Total square miles in School District 172 2. 30 66. 5 Square miles within Brooklyn Center 1. 5 2. 8 2.25 2. 5 1972 assessed valuation 196, 658, 993 22, 820, 936 307, 952, 064 110, 863, 587 1972 assessed valuation in Brooklyn Center 11, 283, 095 22, 820, 936 29, 273 929 27, 676, 141 Parochial Schools (1) St. Alphonsus School (grades 4-8) Total students registered 278 -109- Schedule XIII Cont'd Citv of B rooklyn Cente r MISCELLANEOUS STATISTICAL F1�CTS Deceml�er 31, 197� Munici al Water Plant: P Number of connections 6, 449 Average daily consumption 2, 637, 279 gall,ons Peak daily consumption 7, 613, 000 gallons Plant capacity daily 12, 384, 000 gallons Miles of water mains 101. 7521 Number of fire hydrants 7�9 Number of wells 7 Number of elevated reservoirs 2 Storage capacity 1, 500, 000 �allons Water rate per thousand gallons 35� Municipal Sewer Plant: Number of connections 7, 701 Miles of sanitary sewer 96.3322 Average daily disposal 2, 589, 000 gallons Daily disposal capacity 7, �16, 000 gallons Number of lift stations 9 Residential rate $8. 75 per quarter Municipal Liquor Stores (Off Sale): r Number of owned stores 2 Number of leased stores 1972 sales $1, 450, 456. 38 City Emplqyees: As of December 31, 1972 Pe rmanent o�r �e gula r 112 Temporary or part-time 163 Total 275 Elections: General elec�ion 1972 19 142 Number of votes cast in general election 14, 807 Percentage of registered voters voting 77. 4% Registered voters last state election 15, 080 Number of votes cast last s�ate election 10 964 Percentage of registered voters voting 72, 7% Population: 1940 1, 870 1950 4,284 1960 24,, 356 1965 (special census) 30, 108 1970 35, J, 73 Estimated residentia.l saturatior� point 49, 000 -110-