HomeMy WebLinkAboutVillage Audit Report-1964 j� Village of Brooklyr� Center
A UDIT R EPOR T
For the Year Ended December 31, 1964
TABLE OF CONTENTS
Exhibit Page
Numbex Nuxnber
Opinion 1, 2
General Comments 3 -8
Villa e Officials 9
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Financial Statements
Combined Balance Sheet December 31, 1964 1 10
General Fund Statements
Balance Sheet I?ecember 31 1964 2 11
Analysis of Changes in Unappropriated Surplus
Year 1964 3 12
Statement of Revenue Estimated and Actual
Year 1964 4 13, I4
Statement of Expenditures, Appropriations
And Encumbrances Year 1964 5 15
Statement of Expenditures and Encumbrances
Classified as to Activity, Character and Object
Year 1964 6 16
Special Revenue Funds Statements
Combined Balance Sheet, December 31, 1964 7 I7
Cornbined Analysis of Changes in
Unappropriated Surplus Year 1964 8 18
Village of Brooklyn Center
AUDIT REPORT
For the Year' Ended Decembex° 31 1964
TABLE OF' CONTENTS
Exhibit Page
Numb e r Numb er
Special Revenue Funds Statements, Cont'd
Park Board Fund
Statement of Revenue Estimated and Actual
Year 1964 q 19
Statement of Ex enditures, A ro riations
P PP P
And Encumbrances Year 1964 :10 20
Statement of Ex n itur s 1- i'
pe d e C ass fied as to
Activity, Character and Object Year 1964 11 21
Poor Fund
Statement o€ Revenue and- Expenditures
�Year 1964 12 22
Bond Funds Statem ent s
Combined Balance Sheet December 31, 1964 13 23
Combined Statement of Appropriations
And Expenditures Year 1964 14 24
Debt Service Funds Statements
Combined Balance Sheet December 31, 1964 I5 2
5
Combined Statement of Revenue, Expenditures
And Surplus Year 19b4 16 26
Village of Brooklyn Center
AUDIT REPORT
For the Year Ended Becember 31, 1964
TABLE OF CONTENTS
I I�
Exhibit Page
Number Number
Special Assessment Funds Statements
Combined Balance Sheet December 31, 1964 17 27
Combined Statement of Revenue, Expenditures
And Unappropriated Surplus for Debt Retirement
Year 1964 18 28
Statement of Construction Expenditures
Compared to Appropriations Year 1964 19 29
Statement of Long Term Debt (Principal Amount)
December 3I, 1964 20 30
Public Service And Enterprise Funds Statements
I Municipal Liquor Fund
Balance Sheet December 31, 1964 21 31
Analysis of Chan es in Sur lus Year 1964 22 32
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Statement of Income and Expense Year 1964 23 33
Statement of Long Term Debt
December 31, 1964 24 34
Publi c Utiliti e s Fund
Balance
Sheet December 31, I964 25 35
Analysis of Surplus December 31, 1964 26 36
Statement of Income and Expense Year 1964 27 37
Water De artment er
p Op ating Expenses Year 1964 28 38
Sewer Department Operating Expenses Year 196� 29 39
Suxnmary Statement of Plant and Property and
Provisions for Depreciation
Dec�rnber 3I, 1964 30 40
Statement of Long Term Debt
December 3I, 1964 3I 4I, 42
Village of Brooklyn Center
AUDIT REPORT
For the Year Ended December 31 1964
TABLE OF CONTENTS
Exhibit Page
Number Number
A�ency Funds Statement
Combined Balance Sheet December 31, 1964 32 43
Combined Statement of Revenue, Expenditures
And Fund Balances Year 1964 33 44
Investment Trust Fund (A fund to accomodate the investment
of temporary cash surpluses)
Balance Sheet December 31, 1964 34' 45
Statement of Earnings Year 1964 35 46
Changes in Participating Fund Balances Year 1964 36 47
General Fixed Assets and General Long Term Debt
Surnmar Statement of General Fixed Assets
Y
December 31, 1964 37 48
Suxnxnary Statement of General Long Term
Debt and Interest December 31, 1964 38 49
Schedule of General Long Term Debt and
Interest by Maturities 39 50
Notes to Financial Statements 51 54
Note 1 All Funds
Note 2 General Fund
Note 3 Special Assessme"nt Funds
Note 4 Special Assessment Funds
Note 5 Municipal Liquor Fund
Note 6 Municipal Liquor Fund
Note 7 Public Utilities Fund
Note 8 Summary Statement of General Fixed Assets
Note 9 Summary Statement of General Lang Term Debt and Interest
Note 10 All Funds
MOEN PENTTILA
CERTIFIED PUBLIC ACCOUNTANTS
1210 GLENWOOD AVENUE
MINNEAPOLI8 5. MINNESOTA
DIAL 977•5180
1 To the Village Council
Village of Brooklyn Centex
Brooklyn Center, Minnesota
Gentlernen:
We have examined the financial statements of the various funds of the
Village of B�ooklyn Center as of December 31, 1964 and for the calendar year
then ended. 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
cir�umstances.
Audit Defined
In accordance with the terms of our engagement, we conducted
a"Limited General Audit", which is defined as "an examination
which consists of a review of internal control and accounting procedures
and the details of all records (including subsidiary records and
supporting data) as to mathematical accuracy, propriety and
completeness of all transactions, on a test basis. This type of
audit presusnes that the auditar is expected to render an opinion
(subject to such qualifications as may seem necessary) concerning
all of the transactions and records even though he has not
examined all of them in detail.
Scope of Examination
Our examination covered all financial transactions and funds
of the Village as included in the records maintained by the
Department of Finance.
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Village Council
Brooklyn Center
In our opinion, the accompanying balance sheets and related
statements of revenue, expenditures and surplus, together with notes
appended thereto, present fairly the financial position of the various funds
of the Village of Brooklyn Center on December 31, 1964 and the results of
their o erations for the year then ended, in conformity with generally
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accepted governmental accounting principles, applied on a basis consistent
with that of the previous year.
Respectfull submitted,
�,�ea�
Oiva Penttila
Certified Public Accountant
Field work completed Apri1 28, 1965.
Report signed May 20 1965
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Village of Brooklyn Center
Audit Year 1964
GENERAL COI�IMENTS
Or�anization
The Village of Brooklyn Center was incorporated on Februa.xy 14, 191I,
ur suant to Minne s ota statute s MSA Gha ter 412
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The Village is governed by an elected Council, cornprised of a mayor,
a clerk and three trustees who serve under a system of staggered terms of
office. The Council, with th� assistance of various administrative and advisory
commissions, formulates the general policies of the ViI].age and ret�.ins direct
control over expenditures. The responsibility for carrying out poliGy and
directing Village affairs is delegated to a Village Administrator, who is the
appointed executive officer for the Council,
General Operations
The Village, in addition to the usual activities of general government,
public safety a.nd welfare, highways and recreation, operates three off-sale
liquor stores and a public sewer and water utility. Net revenues produced in
excess of working capital requirements by municipal liquor store operations
have been used towards financing current expense and capital outlay programs
of the Village general fund.
The net revenues of the public utility have been retained within the-
Public Utilities Fund and emplo�ed: for sewer and water utility purposes.
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Village of Brooklyn Center
Audit Yeax° 1964
GENERAL COMMENT S
Financial Control
Financial control over governmental activities is exercised by th�; Gouncil
through the use of budgetary procedures.
A preliminary budget or financial plan for each ensuing year's operations
is prepared and submitted to the Council by the Village Administrator in
coordination with the Department of Finance and the various operatixig departments
within the Village. This preliminary plan is reviewed, evaluated and amended,
and by authority of the Council becomes the formal budget for Village operations.
Attendant actions are taken to certify needed tax levie� and the budget
document is entered on the records to become an integral part of the budgetary
system:. Exclusive authority over all bud et matters remains with �he Council
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and all changes and/or amendments require specific approval of the Couneil.
Periodic financial reports which compare actual performance with the
budget enablc the Council to check on the current financial, status of the Village
and measure the effectiveness of budgetary controls.
Governmental budget procedures are not used in connection with liquqr
store and public utilities operations, because these operations are primarily of
comm,ercial nature and employ concepts peculiar to revenue producing entities.
A summary of the budget document for the calendar year 1964 is shown
below:
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Village of Brooklyn Center
Audit Year 1964
GENERAL COMMENTS
Financial Control, Cont'd
Proposed Expenditux°es (Public Service Enterprise� Excluded)
Village operations (General Fund) $732, 404
:Park general fund lla, 150
Poor relief 11, 745
Firemen's Relief A s sociation 11, 745
Debt service 49, 002
Public Employees Retirement Association 26, 735
County park system (remitted direct and not
accounted for by the Village) 4, 385
Total Proposed Expenditures $95I, 166
Proposed-Method of Financing
Taxation (see below) 593, 281
From state and federal agencies (shared taxes) 95, 000
Local revenues:
Liquor stores $I00, 000
Permits, licenses and fines 65, 000
Services to special assessment funds 50, 000
Services to public utilities fund 8, 700
Recreation receipts 8, 285
Rental of park properties 900 232, 885
Appropriated general fund surplus 30, 000
Total Proposed Financing $951 166
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Village of Brooklyn Center
Audit Year 1964
1 GENERAL COM.NIENT S
Financial Con�rol, Cont'd
A summary and a comparison of the ad valorem tax levy for the current
year 1964 with the year 1963 is presented below:
1964 1963
Mill Rate Amount Mill Rate Amount
Tax Levy
Village operations
(general fund) 35. 79 $420, 419 34. 61 $387, 500
Park general fund 5. 90 69, 250 5. 69 63, 773
Paor relief 1. 00 11, 745 1. 79 20, 044
Firemen's Relief Assn. 1. 00 11, 745 .99 11, 086
Debt service 4. 1€3 49, 002 4. 52 50, 615
Public Employees Retirement
Association 2. 27 26, 735 2,12 23, 739
County park system 37 4, 385 40 4, 479
I� Total Levy 50. 51 $593, Z81 50. 12 $561, 236
Assessed Valuation
1964 1963
Real estate $10, 409, 834 9, 922, 322
Personal property 1, 336, 486 I, 275, 518
Total Assessed Valuation $11, 746, 320 $11, 197, 840
The results of opex°ations for the year and a comparison of these results to
budget- estimates are set �orth by funds within the financial staternent section of
this report.
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Village of Brooklyn Center
Audit Year 1q64
GENERAL COMMENTS
Accounting System
The accountin for activities of the Villa e is divided into various ur ose rou s
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or funds as required by statute or accounting principles. All funds, with some minor
variances, are maintained on an accrual basis. Generally accepted accou.nting
principles and principles relating to governmental accountin as develo ed b the
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National Committee on Governmental Accounting are adhered to in all funds.
The accounts of the ViJ.lage are classified in conformance with the Classificati.on
of Accounts for Use b Fiscal Officers in Cities and Villa es as issued b the
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Department of Public Examiner, State of Minnesota. The Public Utilities Fund
accounts are classified in accordance with recommendations contained in the Manual
of Water Works Accountin and this classification is ermissible under the Exami.ne
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order establishing account classifications for use by municipalities.
The necessary separation of record keeping from activities and custodianship
of funds is carefull maintained and the usual controls s c
y u h as requiring the
deposit of daily receipts intact, requiring more than one signature on checks for
expenditures, and requiring substantiation of receipts and disbursements by registex
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tapes, receipt copies, purchase orders and invoices are a regular part of established
methods for handling day to day transactions.
I In summary, the �ystem of accounting is in compliance with statutory require-
ments, incorporates proper principles of accounting, and provides accurate reporting
and control over finances.
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Village of Brooklyn Center
Audit Year 1964
t GENERAL COMMENTS
Additional Reports Submitted
A separate report covering the examination of the records and accounts of the
Village has been prepared and directed to the Council. This report, as such, is
not a financial report but contains various observations of the auditor relating to
financial matters as noted during the conduct of the examination. The purpose of
the report is to assist the governing body of the Village in an advisory capacity by
r submitting specific xecommendations and su estions concernin the a.dministration
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of Village affairs, and nothing contained therein is materially relevant to the
fairness of representations as contained on this audit report.
The terms of the audit agreement include an examination of the accounts and
records of the "Brooklyn Center Fire Department Relief Association"
(an organization distinct and separate from the Village of Brooklyn Center). The
report concerning the activities of this entity has been directed to the association
under separate cover.
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1 Village of Brooklyn Center
LISTING OF VILLAGE OFFICIALS
December 31, 1964
Term of Office Term Expires
Village Council (Elected)
Mayor Gordon Erickson Two years 12-31 -65
Village Clerk Henry Dorff Two years 12-31 -64
Trustee John Leary Three years I2-31 -64
Trustee Phil Cohen Three years 12-3I -65
Trustee Howard Heck Three years 12
Other Elected Officials
Village Treasurer Theodore L. Willard Two years 12-31 -65
Village Assessor John Nordberg Two years 12-31 -b4
Officials Not Elected
Village Administrator A. J. Lee
Assistant to the Administrator A11en S. Lindman
Administrative Assistant Thomas Hadd
Department Heads:
Finance P. W. Holmlund
Engineering Donald G. Po s s
Police Thomas G. O'hehir
Fire Carl Anderson
Protective Inspection Donald Stark
Civil Defense Edwin Coleman
Public Utilities Frank Smith, Jr.
Streets and Highways Henry Davis
Liquor Stores Truman Nelson
Parks and Recreation Eugene Hagel
Municipal Judge James H. Johnston
Health Officer R. I. Shragg, M. D.
Fire Marshall Irvin Miller.
Park Board
Paul Bullen, Ghairman
Francis Irvin
Mrs. Janet Johnson
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Combined
Explanation Total
(Note 1)
Assets and Resources
Cash on hand and in depositories 476, 658
Temporary investments 1, 674, 4I9
Accounts receivable 83, 554
Accrued revenue 32, 791
Due frorri other funds 264, 563
Cash held by County Treasurer�s office 10, 470
Taxes receivable 19, 926
Special assessment receivables 4, 415, 506
Cash held by paying agents for debt and interest 592, 360
Inventories and �upplies 106, 70?
Securities held for inuestment and securities authorized for sale 1, 419, 801
Prepaid expenses and deferred charges 10, 791
Fixed assets (net of depreciation where applicable) 12, I83, 623
Una�sessed construction 260, 732
Amount available general debt and interest 15, 488
Amount to be provided general debt and interest 599, 464
Tatals $22, I66, 853
Li�.bilities
Vouchers and accounts payable 77, 667
Contracts payable 63, 718
Assessments payable I45, 902
Accrued expenses. I43, 44?
Due to other funds 264, 563
Gonstruction loans payable 190, 000
Bonds and interest coupons not redeemed from paying agents 9, 380
Customer and contractor degosits 122, 495
Bonds and certificates payable 6, 719, 800
Due funds participating in investment trust 1, 128, 600
Interest payable in future years (general debt) 118, 576
Total Liabilities 8, 984, 148
Surplus, Reserves and Fund Balances
Surplus and surplus reserves set aside 1, 080, 507
Contributed surplus 7, 046, 671
Investment in general fixed assets 4, 704, 265
Unexpended appropriations, authorizations and balances 351, 262
Total 5urplus, Reserves and Fund Balances $13, 182, 705
Totals $22, 166, 853
Village of Brooklyn Center
COMBINED BALANCE SHEET ALL FUNDS AND GROUPS �CONDENSED FORM� Exhibit I
December 31, 1964
Special Debt Special Municipal Public General General Debt
General Revenue Bond Service Assessment Liquor Utilities Agency Investment Fixed Assets and
Fund Funds Funds Funds Funds Fund Fund Funds Trus: Fund Group Interest Group
�Exhibit 2) �E�ibit 7} �Exhibit 13) �Exhibit 15} �Exhibit 17� (Exhibit 21� �Exhibit 25� �Exhibit 32} (Exhibit 34) (Exhibit 37j �'Exhibit 38)
�107, 987 47, 867 207 13, 137 163, 916 47, 823 64, 903 12, 340 18, 478
17, 94I 7, 326 575 771, 679 30, 431 826, 786 19, 68I
6 004 301 35, 737 201 37, 802 3p 509
27, 571 5, 220
61, 954 5 202, 600 4
2, 038 213 130 7, 986 103
14, 213 2, 697 1, 64I 44 1, 331
4, 324, 374 91, 132
1 517, 639 lb, OOI 19, 669 39, 05I
8, 950 93, 377 4, 380
296� 5Q0 1, 123, 301
5, 419 324 1, 433 3, 615
26, 488 7, 452, 870 $4, 704, 265
260, 732 I
I5, 488
599, 464
$224, 506 58, 728 $296, 707 15 488 $6, 284, 707 $2I5, 754 $8, 528, 728 36, 968 $1, 146, 999 $4, ?04, 265 $654, 003
9, 412 1, 983 14, 934 24, 468 26, 853 17
24, 741 38, 977
$145, 902
16, 5I6 I, 904 96, 347 5, 88I 22, 799
l, 241 15, 711 13, 849 222, 725 313 I 0, 714 10
190, 000
8,142 638 375 225
I04, 113 I8, 382
5, 218, 500 I12, 000 1, 000, 000 389, 300
1, I28, 600
I I 8, 576
27 169 44, 339 13, 849 $5, ?89, 625 $143, 300 $I, 164, 854 10 $1, 146 999 $654 003
$197, 337 14, 389 442, 166 72, 454 317, 203 36, 958
7, 046, 671
$4, 704, 265
282, 858 15, 488 52, 916
$197, 337 I4, 389 $282 858 15, 488 495, 082 72, 454 $7, 363, 874 36, 958 $4, 704, 265 I
$224, 506 58, 728 $296, 707 15, 488 $6 284, 707 $215, 754 $8, 528, ?28 36, 968 $1, 146, 999 $4, 704, 265 $654, 003
'I �See notes to financial statements)
10 This statement is an integral part of report dated April 28, 1965. i,
Exhibit 2
Village of Brooklyn Center
General Fund
BALANCE SHEET
December 31, 1964
ASSETS
Assets
Ca.sh on hand and in depositories $107, 987
Temporary investments I7, 941
Accounts receivable 6, 004
Due from other funds 61, 954
Cash held by County Treasurer's office 2, 038
Taxes receivable:
Real estate and personal property taxes:
Levied during 1963, collected in 1964 9, 968
Prior years' levies 4, 245 14, 213
Inventories of supplies:
I Materials and supplies 6, 285
Small tools 2, 665 8, 950
Expenditures deferred to 1965 budget appropriations
and taxation 5, 4I9
Total $224, 506
T
LIABILITIES, RESERVES AND SURPLUS
Liabilities
Vouchers payable 9, 412
Accrued payroll 16, 5I6
Due to othex° funds 1, 241
Total Liabilities 27 169
Surplus
Reserve for 1964 budget encumbrances 2, 203
Reserve for imprest cash and prepaid or deferred
expenditures 14, 578
Unappropriated surplus (Exhibit 3) (Note 2) 180, 556
Total Surplus I97, 337
Total $224, 506
(See notes to financial statements)
This statement is an integral part of report dated April 2$, 1965.
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Exhibit 3
Village of Brooklyn Center
General Fund
ANALYSIS OF CHANGES IN UNAPPROPRIATED SURPLUS
Year 1964
A ctual
Budget Over (Under)
Actual Estimate Estimate
Unappropriated Surplus, January 1, 1964 $1$2, I79 $I$2, I79
Addo
Revenue (Exhibit 4) 742, 902 702, 804 $40, 098
Total Balance and Additions $925, 081 $884, 983 $40, 098
De duc t:
Expenditures (Exhibit 5) $738, 868 $750, 654 ($11, 786)
Encumbrances (Exhibit 5) 2, 203 2, 203
Increases to reserves for assets
set aside for specific use 3, 454 3, 454
Total Deductions $744, 525 $750, 654 6, 129)
Unapprop Su December 31, 19 $I80, 556 $I34, 329 $46, 227
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(See notes to financial statements)
This statement is an integral part of report dated April 28 I9b5
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Exhibit 4
Village of Brooklyn Center
General Fund
STATEMENT OF REVENUE ESTIMATED AND ACTUAL
Year 1964
A ctual
Budget Over(Under)
Actual Estimate Estixnate
Taxes
Real estate and personal property taxes $419, 874
Penalties and interest on tax bills 3, 168
Total Taxes $423, 042 $420, 419 2, 623
Licenses, Permits and Fines
Fines, forfeitures and penalties 24, 21;5
Building permits 7, 307
Electrical permits 4, 693
Plumbing permits 4, 24I
Heating permits 3, 149
Sewage and water permits 2, 485
Dog licenses and pound fees 2, I88
Electrical licenses 1, 120
Bicycle licenses 1, 093
Plumbing licenses 900
Heating licenses 695
Cigarette licenses 446
Certificates of occupancy 444
Gas piping licenses 37Q
Service station licenses 350
Zoning charges and special permits 244
Well drillers' licenses 240
Well permits 230
Bowling alley licenses I71
Malt licenses 7,40
Housemovers' licenses 12a
Garbage and xubbish hauling licenses 110
Miscellaneous licenses (categories
under $100) 285
Total Licenses, Permits and Fines 55, 241 65, 000 9, 759)
Shared Taxes
State cigarette and liquor taxes 72, 824
State aid for street maintenance 17, b55
Mortgage registry tax 5, 170
Mobile home registry tax 19
Total Shared Taxes 95, 668 95, 000 668
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Exhibit 4
C ont' d
Village of Brooklyn Centex
General Fund
STATEIVIENT OF REVENUE ESTIMATED AND ACTI7AL
Year 1964
A ctual
Budget Ovex(Under)
A ctual E stimate Es Gimate
Charges for Current Services
Recreation 10, 942
Assessment searches, photos, platting
fees, etc. and other general governmental
services l, 943
Total Charges for Current Services I2, 885 8, 285 4, 600
Charges to Other Funds
Engineering and clerical f�es 73, 093
Rent and administrative charges:
Public Utilties Fund 8, 700
Expense reimbursements Liquor Fund 660
Work order charges use of equipment 13, 490
Total Charges to Other Funds 95, 943 58, 700 $37, 243
Other
Interest on temporary investments 2, 515
Rent Minnesota Highway Department 519
Hall rental 150
Sale of miscellaneous assets 1, 788
Miscellaneous 151
Total Other 5, I23 400 4 723
Transfers In
Municipal Liquor Fund 55, 000 55, 000 -0-
Total Revenue $742, 902 $702, 804 $40, 098
n tes to financial statements
(See o
This statement is an integral part of report dated April 28 1965
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Village of Brooklyn Center Exhibit 5
General Fund
STATEMENT OF EXPENDITURES, APPROPRIATIONS AND ENCUMBRANCES
Year 1964
1964 Bud et A ro riations Ex enditures and Encumbrances Over Ex ended
AP P P P
Original Amendments During 1964 Final 1964 Dec. 31, 1964 Under Expended
1964 Budget Increases Decreases 1964 Budget Expenditures Encumbrances Appropriations
General Government
Mayor, Council and Treasurer 19, 825 2, 620 2, 957 19, 488 I1, 663 7, 825
Municip4l Court I3, 984 13, 984 10, 788 3 196
Election and voter registration 10, 363 I0, 363 10, 279 84
Finance Municipal Clerk 67, 744 67, 744 66, 058 1 686
Assessor 13, 880 13, 880 14, 293 142 555)
Accounting and internal audit 17, 054 17, 054 18, I60 I, 106)
Independent audit 4, 600 4, 600 4, 874 274)
Legal 13, 500 13, 500 9, 786 3, 714
General government buildings 20, 436 20, 436 22, 976 2, 540)
Total General Government $181, 386 2, 620 2, 957 $I81, 049 $168, 877 142 $12, 030
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Public Safety and Welfare
Police Protection $167, 040 338 $167, 378 $I66, 365 700 313
Fire protection 18, 480 917 19, 397 18, 778 619
Protective inspection 28, 187 28, 187 27, 330 308 549
Civil defense 2, 720 4, 667 7, 387 5, 782 20 1, 585
Animal control 4, 500 4, 500 4, 365 135
Nursing service 6, 455 6, 455 6, 454 1
Total Public Safety and Welfare $227, 382 5, 922 $233, 304 $229, 074 1, 028 3, 202
Hi �hways
Engineering 67, 802 67, 802 81, 767 8 ($I3, 973)
Street department and maintenance shop 182, 100 $12, 665 194, 765 183, 077 1, 025 10, 663 I
Street lighting 29, 000 29, 000 27, 424 1, 576
Total Highways $278, 902 $12, 665 $291, 567 $292, 268 I, 033 I, 734)
Recreation
Supervision of recreation 10, 169 10 169 10, 271 102)
Adult programs 4, 150 4, 150 5, 883 1, 733)
Summer playgrounds 10, I40 10, 140 11, 493 I, 353)
Summer programs 13, 300 13, 300 I4, 229 929)
Fall and winter sports 6, 975 6, 975 6, 773 202
Total Recreation 44, 734 44, 734 48, 649 -0- 3, 915)
Grand Total $732, 404 $21, 207 2, 957 $750, 654 $738, 868 2, 203 9, 583
(See notes to financial statements)
This statement is an integral part of report dated April 28 1965
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Village of Brooklyn Center Exhibit 6
General Fund
STATEMENT OF EXPENDITURES AND ENCUMBRANCES
CLASSIFIED AS TO ACTIVITY, CHARACTER AND OBJECT
Year 1964
Total
Encumbrances Total Current Expense Classification Total Capital Expenditures
and Current Personal Contractual Capital Outlay Classification
Expenditures Expense Services Services Commodities Other Expenditures Land Equipment
1 General Goveriirrient
Mayor, Council and Treasurer 11 663 11, 663 6, 457 2, 220 2, 986
Municipal Court 10, 788 10, 565 10, 410 I45 10 223 223
Elections and voter registration 10, 279 2, 142 2, 093 49 8, I3? 8, I37
Finance Municipal Clerk 66, 058 65, 668 38, 961 12 960 6, 227 7, 520 39� 390
Assessor 14, 435 14, 220 13, 351 768 l0I 215 215
Accounting and internal audit I8, 160 18, 160 18, I20 40
Independent audit 4, 874 4, 874 4, 752 122
Lega1 9, 786 9, 786 9, 786 I
General government buildings 22, 976 19, 161 I0, 213 6, 682 2, 266 3, 8I5 2, 530 1, 285
Total General Government $169, 019 $156, 239 $114, 143 $22, 752 8, 739 $I0, 605 $12, 780 2, 530 $10, 250
Public Safety and Welfare
Police protection $167, 065 $164, 026 $150, 439 906 8, 522 4, 159 3, 039 3, 039
Fire protection 18, 778 14, 931 12, 322 1, 151 I, 180 278 3, 847 3, 847
Protective inspection 27, 638 27, 638 26, 592 97I 75
Civil defense 5, 802 1, 732 890 575 267 4, 070 4, 070
Animal control 4, 365 4, 365 4, 365
Nursing services 6, 454 6, 454 6, 454
Total Public Safety and Welfare $230, 102 $219, 146 $190, 243 $14, 422 9, 969 4, 512 $10, 956 $10 956
Highways I
Engineering 81, 775 81, 464 80, 476 3I7 651 20 31I 311
Street department and maintenance shop 184, 102 158, 827 93, 692 I, 149 58, 497 5, 489 25, 275 25, 275
Street lighting 27, 424 27, 424 27, 424
Total Highways $293, 301 $267, 7I5 $174, I68 $28, 890 $59, I48 5, 509 $25, 586 $25, 586
Recreation
Supervision of recreation 10, 271 10, 271 8, 948 641 637 45
Adult programs 5, 883 5, 883 4, 902 981
Summer playgrounds 11, 493 11, 493 8, 648 2, 845
Summer programs 14, 229 14, 229 11, 355 2, 874
Fall and winter sports 6, 773 6, 773 6, 422 351
Total Recreation 48, 649 48, 649 40, 275 641 7, 688 45 -0- -0- -0-
Grand Total $741, 07I $691, 749 $518, 829 $66, 705 $85, 544 $20, 671 $49, 322 2, 530 $46, 792
(See notes to financial statements)
This statement is an integral part of report dated April 28, 1965.
16
Exhibit 7
Village of Brooklyn Center
Special Revenue Funds
COMBINED BALANCE SHEET
December 31, I964
Combined Park Board Poor
Total Fund Fund
ASSETS
Cash on hand and in depositories $47, 867 $42, 620 5, 247
Texnporary investments 7, 326 7, 326
Accounts receivable 301 301
Cash held by County Treasurer's office 2I3 I79 34
Taxes receivable:
Real estate and personal property taxes:
Levied during 1963, collectible
in 1964 1, 923 l, 642 281
Prior years' Ievies 774 589 I85
Expenditures deferred to 1965 budget 324 324
Totals 58 728 45 655 I3 473
LIABILITIES, RESERVES AND SURPLUS
Liabilities
Vouchers payable 1, 983 752 1, 231
Contracts payable 24, 741 24, 741
Due to other funds 15, 7I I 15, 711
Accrued payroll I, 904 I, 904
Total Liabilities $44, 339 $43, 108 1, 231
Surplus
Unappropriated surplus (Exhibit 14, 389 2, 547 11, 842
Totals $58, 728 $45, 655 $13, 073
(See notes to financial statements)
This statement is an inte ral part of report da.ted April 28 1965
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Exhibit 8
Village of Brooklyn Center
Special Revenue Funds
COMBTNED ANALYSIS COF CHANGES IN UNAPPROF'RTATED SURPLUS
Year 1964
Combined Park Board Poor
Total Fund Fund
Unappropriated Surplus, January 1, 1964 27, 120 12, 951 $14, 169
Add: R.evenue (Exhibits 9 and 12) 128, 334 1I5, 996 12, 338
Deduct: Expenditures and encuxnbrances
(Exhibits 10 and 12) 141, 065) 126, 40Q) 14, 665)
Unappropriated Surplus, December 3I, 1964 14, 389 2 547 lI 842
(See notes to financial statements)
This statement is an integral part of report dated April 28, 1965.
18
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Exhibit 9
Village of Brooklyn Center
Park Board Fund (A Special Revenue Fund)
STATEMENT OF REVENUE-ESTIMATED AND ACTUAL
Year 1964
Actual
Budget Over (Under)
Actual Estimate Estimate
General property tax 69, 154 69 250 96
Rents 900 900
Concessions 842 437 405
Grants and gifts 100 100
Transfers in from Municipal
Liquor Fund 45, OQO 45, 000
Total $115, 996 $I15, 687 $309
(See notes to financial statements
This statement is an inte ral art of re ort dat d A ril 28 1 65
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Exhibit I0
illa of Brookl n Center
V ge y
Park Board Fund (A Special Revenue Fund}
STATEMENT OF EXPENI?ITURES, APPROPRIATIONS AND ENCUMBRANCES
Year 1964
1964 Bud�et Appropriations (Over Expended)
Original Final 1964 Under Expended
Function 1964 Budget Increases Decreases 1964 Budget Expenditures Appropriations
I General ark administration 53, 425 537 53, 962 53, 152 810
P
General park maintenance 13, 050 13, 050 10, 767 2, 283
Park garage 9A0 900 921 2I)
Acquisition of park facilities and equipment:
Shelters 41, 6T 1 32, 000 53, 61I 53, 611
Other 3, 389 3, 389 5, 362 1� 973)
Operation of facilities.
Grandview Park $00 800 671 129
Northport Park 400 400 677 277)
Garden City Park 350 350 475 I25)
HappY Hollow Park 250 250 162 88
Brooklane Park 200 200 149 5I
Orchard Lane Park 175 175 4I 134
Kylawn Park 175 175 84 91
Bellvue Park 175 I75 229 54)
Willow Lane Park 150 150 100 50
Wangstad Park 50 50 50
j Evergreen Park 50 50_ 50
Total $1I5, I50 $I2, 537 0- $127, 687 $126, 401 1, 286
(See notes to financial statements)
This statement is an integral part of report dated April 28, 1965.
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Exhibit 11
Villa e of Brookl n Center
g Y
Park Board Fund (A Special Revenue Fund)
STATEMENT OF EXPENDITURES
CLASSIFIED AS TO ACTIVITY, CHARACTER AND OBJECT
Year 1964
Ca ital Ex enditures Classification
p P
Total Current Expense Classification Total Land Buildings and
I Total Current Personal Contractual Capital Outlay And Land Building
Activity Expenditures Expense Services Services Commodities Other Expenditures Improvements Improvements Equipment
General park administration 53, 152 $45, 346 $43, 581 228 32 1, 505 7, 806 7, 236 570
General park maintenance I0, 767 8, 252 8, 252 2, 5I5 2, 515
Park garage 920 92� 914 6
Acquisition of park facilities
and equipment 58, 973 58, 973 $57, 514 1, 459
Operation of facilities:
Grandview Park 671 671 498 I73
Northport Park 677 677 345 332
Garden City Park 475 475 149 326
Happy Hollow Park 162 162 126 36
Brooklane Park 149 149 149
Orchard Lane Park 41 41 41
Kylawn Park 84 84 46 38
Bellvue Park 229 229 47 182
Willow Lane Park 100 100 100
Total 126 400 57 I06 43 581 2 543 477 1 505 6 2 4 7 236 57 514 4 44 I
9, 9, 9 5
I (See notes to financial statements)
This statement is an integral part of report dated April 28, 1965.
21
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Exh�bi.t L 2
Village of Brooklyn Center
Poor Fund(A Special Revenue Fund)
STATEMENT OF REVENUE AND EXPE�TDITURES
Year 1964
Revenue
General prop.erty tax special ad valorem levy $11, 809
Relief grants 347
Interest earned on temporary investments 182
Total Revenue $12, 338
Expenditures
Subsistence care and support payments $11, 817
Administrative charge 2, 8�48
Total Expend'ztures $I4, 665
Excess of Expenditures Over Revenue 2, 327)
See notes to financial statements)
This statement is an integral part of report dated April 28, 1965.
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Exhibit 13
Village of Brooklyn Center
Bond Funds
COMBINED BALANCE SHEET
December 3I, 1964
Certi�ieates Certi�icates
of of
Combined Library Indebt�;dness Indebtedness
Total Bonds #9
ASSETS
Cash in bank 207 $207
Certificates and bonds
authorized but not sold 296, 500 $260, 000 $36, 500
Totals $296, 707 $260, OQO $207 $36, 500
LIABILITIES AND SURPLUS
Due to other funds I3, 849 12, 779 1, 070
Surplus:
Reserve for authorized
expenditures 282, 651 247, 221 35, 430
Unappropriated surplus 207 $207
Totals 2 6 707 260 Op0 207
9 $36, 500
(See notes to financial statements)
This statement is an integral part of report dated April 28 1965
23
I I�
Exhibit I4
r Village of Brooklyn Center
Bond Funds
I COMBINED STATEMENT OF APPROPRIATIONS AND EXPENDITURES
Year 1964
#8 #9
Certificates Certificates
Combined Library of of•
Total Bonds Zndebtedness Indebtedness
Reserve for Authorized Expenditures
General obligation bonds
(unsold at I2-31 -64) $260, 000 $260, 000
Certificates of indebtedness
(sold during 1964) 35, 500 $35, 50Q
(unsold at 12-31 -64) 36, 500 $36, 500
Total Amount Appropriated $332, 000 $26Q, 000 $35, 500 $3b, 500
Less: Expenditures for authorized
purposes:
Year 1964
1. Voting machines 35, 293 $35, 293
2. Radio equipment 1, 070 I, 07D
3. Library pl,ans and
preliminary costs 12, 779 12, 779
Total Expenditures 49, I42 12, 779 $35, 293 1, 070
Res�rve for Authorized Expenditures
Dece mber 31, 1964 $282, 651 $2�47, 221 $35, 430
Una ro riated Sur lus
PP P P
December 31 1964 207 207
(See notes to financial statements)
This statement is an integral part of report dated �,pri� 28, 1965.
24
Exhibit I5
Village of Brooklyn Center
D�;bt Service Funds
COMBINED BALANCE SHEET
r December 3I, 1964
Certificates State Loan
Combined Park of (Cash Basis
Total Bonds Indebtedness Fund)
A SSET S
Cash on hand and in
depositories $13, 137 9, 561 2, 887 689
Temporary investments 575 407 168
Due from other funds 5 5
Ca.sh held by Cqunty
Treasurer's office 130 93 37
Taxes receivable:
Real estate and personal property
Levied during 1963,
collectible 1964 1, 145 829 316
Prior year levies 496 321 175
Totals $15, 488 $I1, 216 3, 583 689
Unapprapriated Surplus $I5, 488 $I I, 216 3, 583 689
1 See notes to financial statements
1
This statement is an integral part of report dated April 28, 1965.
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Exhibit I6
Village of Brooklyn Center
Debt Service Funds
�i COMBINED STATEMENT
OF REVENUE, EXPENDITURES AND SURPLUS
Year 1964
Certificates State Loan.
Combined Park of (Cash Basis
Total Bonds In.debtedness Fund)
Unappropriated �urplus,
January i, 1964 $13, 339 9, 105 2, 858 1, 376
I Add: Revenue
General property tax levies 48, 788 34, 994 I2, 978 8i6
Interest on temporary
investments 574 407 167
Total Balance and Additions $62, 70I $44, 50b $16, 003 2, 192
I Deduct: Expenditures
Principal paid $33, 300 $20, 000 $12, 000 1, 300
Interest paid I3, 855 13, 232 420 203
Service charges (paying agent) 58 58
Total Expenditures $47, 213 $33, 290 $1,2, 420 I, 503
1
Unappropriated Surplus
December 31, 1964 $I5, 488 $11, 216 3, 583 689
(See notes to financial statements)
I This statement is an integral part of report dated April 28, 1965
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All Funds
Combined
A s sets Total
163 916
Cash on hand and in depositories
Temporary investments 771 679
Accounts receivable 35, 73?
Due from other funds 202, 600
Cash held by County Treasurer's office 7 986
Taxes receivable delinquent 44
Assessments receivablee
Future year installments (Principal) 3, 164, 652
Delinquent assessments (Principal and interest) 119, 525
From P�.rk Board Fund (Principal-no interest charge) 83 569
From Village General Fund (Principal-no interest charge) 62, 333
From University of Minnesota (Principal and interest� 449, 258
Interest receivable applicable to 1964 on installments due 1965 161
General Village share for future taxation (Principal only) 437, 876
Authorization to assess for construction in progress 260, 732
Cash held by paying agents for debt and interest 517 639
Totals $6, 284, 707 i
Liabilitie s
Vouchers and contracts payable 53, 911
Accrued expenses and costs 9, 350
Due to other funds 222, ?25
Construction loans payable 190, 000
Bonds payable future years 4 796 000
Bonds and interest not redeemed (monies with paying agent}
Bonds maturing January 1, 1965 422, 500
Interest coupons maturing January 1 1965 86 997
Bonds and interest coupons matured and not redeemed 8, I42
Total Liabilities $5, ?89, 625
Unappropriated surplus (deficit) for debt retirement (Exhibit 18) 442 166
Unexpended appropriations for construction (Exhibit 20} 52, 91 6
Totals $6, 284, ?0?
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Village of Brooklyn Center Exhibit I7
Special Assessment Funds
CQMBINED BALANCE SHEET
December 31 1964
1 56 B 1 58 A 1 58 B 1 5 AB 1 60 AC 1961 AB 1963 1 65
Bond Fund 1955 A 1956 AC 9 1957 AB 9 9 9 9 9 9
No. 1 Fund Fund Fund Fund Fund Fund Fund Fund Fund Fund Fund
0 6 8 5I 15 477 10 144 I8 471 5 733 56 6I I2 17
8, 518 6, 250 18, 37 3, 9 9 9 9 9
48, 953 126, 536 126, 534 20 979 98, 447 67, 087 172, 654 50, 976 I, 009 23, 764 34, 740
1 35, 737
63 8, 556 17, 634 176, 347
128 237 682 166 20 99 72 1,776 4,606 200
44
91, 604 68, 597 208, 15I 49, 493 1Q6, 999 227, 747 I15, 892 269 248 799 120 670, 225 557, 576
t 995 1, 231 5, 024 508 3, 161 4, 801 896 2, 655 40 662 49 431 I0, 16I
5, 199 3, 020 14, 378 3, 775 32, 153 22, 469 2, 575
486 15,978 36,455 9,414
67, 567 56, 279 35, 019 239, 868 22, 041 Z8, 484
147 56 113 6,845
2, 705 4, 319 116 690 189 494 I04, 282 20, 386
$260, 732 i
24, I47 25, 664 57, 743 51, 700 43, 743 32, 087 24, 920 46, 256 133, 407 77, 972
$174, 345 $296, 126 $480, 354 $126, 815 $268, 291 $396, 695 $333, 209 $526, 319 $1, 459, 3I3 $1, 067, 864 $894, 644 $260, 732
80 14, 602 39, 229
9,350
1 I01 63 2, 308 3 1 4, 093 47, 569 168, 587
190, 000
$132, 000 193, 000 330, 000 50, 000 $120, 000 $350, 000 270, 000 490, 000 1, 305, 000 920, 000 636, 000
t 21, 500 21, 000 50, 000 50, 000 40, 000 25, 000 20, 000 35, 000 100, 000 60, 000
2, 647 3, 478 7, 459 1, 700 3, 350 7, 087 4, 830 11, 169 28, 645 16, 632
I 1, 186 284 393 90 8? 4, 762 I, 340
$I56, 147 $218, 765 $387, 806 $101, 700 $163, 743 $382, 087 $297, 308 $536, 259 $1, 438, 408 $1, OI6, 66? $882 919 $207, 816 I
18, 198 ?7, 361 92, 548 25, 115 104, 548 I4, 608 35, 901 9, 940� 20, 905 5I, 197 11, 725
52,916
$174, 345 $296, 126 $480, 354 $126, $15 $268 291 $396 695 $333, 209 $526, 319 $l 45 313 $I, 067, 864 $894, 6 $260, 732
(See notes to financial statements}
This statement is an integral part of report dated April 28, 1965.
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Exhibit 18
Village of Brooklyn Center
Special Assessment Funds
COMBINED STATEMENT OF REVEIVUE, EXPENDITURES
AND UNAPPROPRIATED SURPLUS FOR DEBT R.ETIREMENT
Year 1964
Combined
Total Bond Fund 1955 A 1956 AC 1956 B 1957 AB 1958 A 1958 B 1959 AB 1960 AB 1961 AB 1963
All Funds No. 1 Fund Fund Fund Fund Fund Fund Fund Fund Fund Fund
Unappropriated Surplus {Deficit}
January 1, 1964 $379, 845 $I5, 939 $73, 427 $84, 605 $23, 113 99, 215 $11, 121 $28, 601 $(8, I46j $I3, 578 $39, 663 1, 27I)
Add; Revenue for 1964
1964 interest on assessment rolls $193, I24 5, 460 4, 023 $12, 395 3, 106 7, 489 $15, 51I $10, 782 $18, 190 $54, I73 $47, 588 $I4, 407
Interest on temporary investxnents 34, 676 2, 245 5, I44 5, 581 2, 378 4, 624 2, 958 6, 245 2, 5I5 I, 009 1, 527 450
Interest earned on U. of M. contract
{Brown properties� 17, 880 2, 702 2, I65 l, 399 10, 376 92I 317
Sale property not needed 2 991 2 991 i
Excess of assessments over cost
of projects transferred to debt
retirement purposes 21 21
Total Revenue 1964 248, 692 705 $11, 869 $23, 132 5, 484 I2, 134 $19, 868 $I7, 027 $20, 705 $65, 558 $50, 036 $15, 174
Deduct: Expenditures for 1964
Interest expense $176, I59 5, 293 6, 955 $I4, 918 3, 400 6, 700 $14, 175 9, 660 $22, 338 $57, 290 $33, 265 2, 165
Paying agent charges 1, 751 153 1 I7 220 81 101 I25 67 161 426 287 13
Assessments written off 4, 368 863 51 1 2, 081 515 857
Transferred to construction �Note 3� 4, 093 4, 093
Total Expenditures 1964 $I86, 371 5, 446 7, 935 $15, 189 3, 482 6 801 $I6, 381 9, 72? $22, 499 $58 231 $38, 502 2, I78
Unappropriated Surplus (Deficit�
December 31, 1964 $442, 166 $18, 198 $77, 36I $92, 548 $25, 1 I5 $104, 548 $14, 608 $35, 901 9, 940) $20, 905 $51, 197 $l I, 725
(See notes to financial statements� I
This statement is an integral part of report dated April 28 1965.
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E
Exl�ibit 19
Village of Brooklyn Center
Special Assessmc:nt Funds
CONSTRUCTION EXPENDITURE'S COMPA�ZED TO APPROPRIATTONS
Year 1964
Combined
Total 1963 1965
All Fu�ds Fux�d Fund
Ori�ina.l Appropriations as of
January I, 1964 656, 722 $656, 722 -0-
Additions and (Deductions
New projects initiated during 1964 733, 785 733, ?$5
Appropriati.ons transferred (Note 4) 286, 498) 286, 498
Appropriations cancelled 145, 144) 145, 144)
Total Appropriations $1, 245 363 $958 865 $286, 498
Deduct: Expenditures for construction
During years prior to 1964 622, 524 $622, 524
During 1964 569, 923 569, 923
Expenditures related to appropriations
transferred (Note 4) 233, 582) $233, 582
Total Expenditures for Construction- $1, 192, 447 $958, 865 $233, 582
1 Unexpended Appropriatipns for Construction
December 31, 1964 52, 916 -0- 52, 916
(See notes to financial statements)
This statement is an integral part of report dated April 28, 1965.
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Exhibit 20
Village of Brooklyn Center
Special Assessment Funds
STATEMENT OF LONG TERM DEBT (PRINCIPAL AMOUNT OUT5TANDINGj
December 31, 1964
Bond
Redemption Balance Last
Year of Total Monies to Unpaid Installment
Fund Description of Issue Issue Issue Paying Agent 12-31 -64 Due on Coupon Rates on Outstandin� Bands
Bond Fund 1 Storm Sewer #1 serial issue 1952 304, 000 I92, 000 112, 000 1-1 -72 3. 50°jo
Sanitary Sewer #1 serial issue 1952 48, 000 32, 000 16, 000 I-I -73 3. 20
1953 A serial issue 1953 30, OOQ 30, 000 1-1 -64 3. 25
1953 B serial issue 1953 55, 000 51, 000 4, 000 1-1 -69 3. 30
1954 A serial issue 1954 37, 000 37, 000 I-I -65 3. 00
1954 C serial is sue 1954 22, 500 2Z, 500 I-1 -65 2, 50
1955 A 1955 A serial issue 1955 497, 000 304, 000 193, 000 1-1-76 3. 25
1956 AC 1956 A serial issue 1956 535, 000 485, 000 50, 000 1-I -67 3. 75
1956 C serial issue 1956 550, 000 270, 000 280, 000 I-1 -77 3. 90
1956 B 1956 B serial is sue (refunding) 1960 200, 000 150, 000 50, 000 I 3. 40
1957 AB 1957 A serial issue 1957 430, 000 355, 000 75, 000 1-1 -67 4. 00
1957 B serial issue 1957 350, 000 305, 000 45, 000 I-1 -67 4. 50
1958 A 1958 A serial issue 1958 530, 000 180, 000 350, 000 I-1 -79 175 M@ 4. 00°�0; 75 M@ 3. 9�%; 75 M@ 3. 60°J M@ 3. 10°Jo
1958 B 1958 B serial issue 1958 390, 000 I20, 000 270, 000 I-1 -79 90 M@ 3. 60; 60 M� 3. 50°�0; 60 M@ 3. 20%; 60 M@ 3. 00°f
1959 AB 1g59 AB serial issue 19b0 630, 000 I40, 000 490, 000 1-1-81 I85 M@ 4. 50°fo;200 M@ 4. 25%; 105 M@ 4. 00°fo
1960 AB 1960 A serial issue 1960 768, 000 198, 000 570, 000 1-1-81 90 M@ 3. 00°jo; 39� M@ 4. 20°fo; 90 M@ 4. 50%
1960 B serial issue 1961 885, 000 150, 000 735, 000 I-1-81 315 M@ 4. 20a/o; 180 M@ 4. IO�j I40 M@ 4. 00%;100 M@3. 80
1961 AB 1961 A serial issue 1962 595, 000 70, 000 525, 000 I-1-82 150 M Qu 3. 75°�0;120 M@ 3. ?0°jo;I20 M@ 3. 40°Jo;I35 M@ 3. 00%
1961 B serial issue 1963 430, OOd 35, 000 395, 000 1-I -84 100 M@ 3. 70%;120 M@ 3. 60°�0;80 M@ 3. 30 M@ 2. 80%
i963 Fund 1963 A serial issue 19b4 636, 000 -0- 636, 000 I-I -85 391 M@3. 20�j M@3. 40°�0;80 M@ 3. 50Qfo;75 M@ 3.60°Jo
$7, 922, 500 $3, 126, 500 $4, 796, 000
(See notes to financial statements)
This statement is an integral part of report dated April 28, I965.
30
Exhibit 21
Village of Brooklyn Center
Municipal Liquor Fund
BALANCE SHEET
December 3I 1964
ASSETS LIABILITIES AND SURPLUS
Current Assets Current Liabilities
Cash on hand and in depositories 47, 823 Accounts payable 24, 468
Temporary investments 30, 431 Accrued salaries and wages 2, 192
Miscellaneous receivables �net) 201 Accrued Public Employees Retirement Association contribution 1, 325
Cash held by paying agent revenue Accrued interest payable on revenue certificates 2, 364
certificate account (Note 5) I6, 001 Due to other funds 313
Merchandise inventory (valued at cost} 93, 377 Bonds, coupons and call premiuxns matured
Prepaid expenses 1, 433 but not presented to paying agent 638
Certificates payable portion due within one year (see below) I3, 000
Total Current Assets $189, 266 Total Current Liabilities 44, 300
Fixed Assets Long Term Liabilities
Provision for Revenue certificates payable (Exhibit 24) $112, 000
Depreciation Book Lesso Portion due within one year �as above) 13, 000
Cost Amortization Value
Fixtures and Equipment Total Long Term Liabilities 99, OOU
Lyndale Avenue Store $11, 421 $11, 134 287
Osseo Road Store 19, 508 8, 251 lI, 257 Total Liabilities $143,300
Brookdale Store 10, 872 3., 074 7, 79g
Surplus �Exhibit 22�
Leasehold Tmprovements Restricted per terms of resolution authorizing
Brookdale Store �Note 6} 16 386 9 240 7, 146 the issuance of revenue certificates �Note 5j 17, 208
$5$, 187 $31, 699 Undistributed surplus 55, 246
Total Book Value of Fixed Assets 26, 488
Total Surplus 72, 454
Total Assets $215, 754 Total Liabilities and Surplus �215, 754
y°See notes to financial statements�
This statement is an integral part of report dated April 28 1965
31
Exhibit 22
Village of Brooklyn Center
Municipal Liquor Fund
ANALYSIS OF CHANG�S IN SURPLUS
Year 1964
Surplus, January 1, 1964 75, 28b
Add: Net income (Exhibit 23) 97, 168
Balance and Additions $172, 454
Deduct; Transfers to other Funds
General Fund $55, 000
Park Board Fund 45, 000 T00, 000
Surplus, December 31, 1964 72, �54
(See notes to financial statements
This statement is an inte ral art of re ort dated A ril �8 I 65
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Village af Brooklyn Center Exhibit 23
t Municipal Liquor Fund
STATEMENT OF INCOME AND EXPENSE
Year 1964
Combined #1 #2 #3
Total Lyndale Ave. Osseo Road Brookdale
All Stores Store Store Store
Sales $814, 932 $192. 043 $351, ?25 $271, 163
Less• Cost of salea 627, 937 I48, 620 273, 744 205, 572
Gross Mar�in on Salea $I86, 995 43, 423 77, 981 65, 591
Operatin� ExQenses Requiring Funds
Salaries and wages 57, 238 18, 446 22, 4�'I 16, 32I
Rent (Note 6) 9, ?21 9, 721
Utilities and heat 4. 229 984 I, 732 1, 513
Insurance 2,309 849 804 656
Repairs and maintenance 1, 541 348 bI9 574
Supplies 1, 5I7 33Z 690 495
Public employees retirerne�t fund 1, 325 558 566 201
Auditing 927 279 324 324
Protection service 7I4 150 �34 330
Telephone 648 224 �aI6 208
Laundry I98 I05 40 53
Inventory variance and adjustments 190 44 82 64
Mileage 1$4 6Q 60 60
Miscellaneous 155 46 48 6I
Taxes and licensea 12$ 43 42 43
Provision for bad checks (net of recoveries) 6Q 46 I4
Breakage 31 I 12 I8
Cash (over) and short 132) 128) 35� 31
Total Operating Expenses Requiring Funds 80 979 22, 38? 27, 905 30., 687
Net Operatin� Income Before Depreciation and Amortization $lUb, 016 2I, 036 50, 076 34, 904
Less: Depreciation and amortization of leasehold improvements 6, 451 358 1, 714 4, 379
Net Operatin� Income 99, 565 20, 678 48, 362 30, 525
Add: Interest on temporary investments and check cashing fees 2, 359
Deduct: Interest and paying agent charges on revenue certificates 4, 756)
Net Income 97, 168
(See notes to financial statements)
This statement is an integral part of report dated April 28, 1965.
33
Village of Brooklyn Center Exhibit 24
Municipal Liquor Fund
STATEMENT OF LONG TERM DEBT
December 31, 1964
Interest Revenue Certificates Principal Revenue Certificates-Interest Coupons
Certificate Coupon Outstanding Outstanding Dates of Outstanding Retired Outstanding
Numbers Rate 1-I -64 Retired I 2-31 -64 Maturity 1-1 -64 1964 I2-31 -64
16-28 4. 00% 13, 000. 00 $13, 000. 00 -0- 1-1 -64 2, 623. 75 2, 623. 75 -0-
?-I-64 2, 363.75 2, 363. 75 -0-
29-41 4. 00 13, 000. 00 13, 000. 00 1-1 -65 2, 363. 75 2, 363. ?5
7-1 -65 2, 103. ?5 2, 103. 75
42-54 4. 25 13, 000. 00 13, 000. 00 1-1 -66 2, 103. 75 2, I 03. 75
7-I -66 1, 827. 50 1, 827. 50
S5-67 4. 25 13, 000. 00 13, 000. 00 1-I -6? 1, 827. 50 1, 827. 50
7-I -67 1, 551. 25 I, 557 25
68-80 4. 25 13, 000. 00 13, 000. 00 1-I -68 1, 551. 25 1, 55I. 25
7-1 -68 1, 275. 00 1, 275. 00
81-95 4. 25 15, 000. 00 15, 000. 00 1-I -69 1, 275. 00 I, 275. 00
7-1 -69 956. 25 956. 25
96-110 4. 25 15, 000. 00 15, 000. 00 1-I -70 956. 25 956. 25
7-1-70 637.50 637. 50
111 -125 4. 25 15, 000. 00 15, 000. 00 1-1 -71 637. 50 637. 50
7-1 -71 318. ?5 318. 75
126-140 4. 25 I5, 000. 00 15, 000. 00 1-1 -72 318. 75 318. 75
$125, 000. 00 $13, 000. 00 $112, Q00. 00 $24, 691. 25 4, 987. 50 $19, 703. 75
General Provisions of Issue
a. Obligations are payable solely from net operations of the Municipal Liquor Stores
and are in no way a general tax liability of the Village.
b. All certificates share on a parity basis in total net revenue of all stores.
c. All certificates which mature after January 1 1968 are subject to redemption (call)
in inverse numerical order on January I 1965 or any interest payment date
thereafter upon payment as follows: I
1. If redeemed prior to January I, 1968 at par ($1, 000) plus accrued interest,
plus premium of $30.00 on each certificate redeemed.
2. If redeemed on or after January 1 1968 at par plus accrued interest.
d. Pursuant to terms of the resolution authorizing and directing issuance of certificates,
certain covenants require a restriction of surplus available for transfer and the periodic
setting aside of funds to meet principal and interest maturities.
(See accompanying notes to financial statements)
This statement is an integral part of report dated April 28 1965
34
Village of Brooklyn Center Exhibit 25
Public Utilities Fund
BALANCE SHEET
Decembes 3I, 1964
ASSETS LIABILITIES
Current Operating Assets Current Operating Liabilities
Cash on hand and in depositories 56, 232 Vouchers payable 21, 341
Temporary investments 280, 861 Accrued Public Employees Retirement Association contribution 2, I84
Accounts receivable utility customers 31, 477 Accrued salaries and wages I, 321
Accrued revenue receivable (estimated unbilled sales) 24, 158 Due to other funds 9, 628
1 Accounts receivable other than utility services 6, 325 Total Current Operating Liabilities 34, 474
Assessments receivable due within one year (see below) 4, 557
Accrued interest receivable 3, 413 Liabilities Payable From Restricted Asset Accounts
Inventory of stores and supplies 4, 380 Construction accounta
Prepaid expenses 1, 707 Contracts and vouchers payable 5, 512
Total Current Operating Assets 413, l I0 Due to other funds I, 086 6, 598
Revenue account:
Assets Restricted as to Use (Note 7) Accrued interest on bonds payable $19, 294 I
Coupons matured but not presented
Cash Investments Total to paying agent 375 19, 669
Total Liabilities Payable From Restricted Accounts 26, 267
Construction account 4, 667 $410, 004 4I4, 67I
Revenue bond account 23, 672 60, 921 84, 593 Long Term Liabilities
Reserve account -0- 75, 000 75, 000 Customer meter deposits 104, 113
$28, 339 $545, 925 Revenue bonds payable dated 7-1 -63 1, 000, 000
Total Restricted Assets 574, 264 Total Long Term Liabilities I, 104, I13
Plant and Property (Exhibit 30) Total Liabilities $I, 164, 854
Water and sewer utility in service $7, 307, 065
Less: Provision for depreciation 482, 662 NET WORTH
Book Value of Plant and Property in Service 6, 824, 403
Surplus (See Exhibit 26)
Other Assets Contributions in aid of construction $7, 046, 671
Work in progress (financed by revenue bond issue) 627, 535 Restricted surplus (Note 7) 175, 532
Current capital outlay 933 Unrestricted surplus I41 671
Assessments receivable {principal only) 91, 132 Total Surplus 7, 363, 874
Lessc Principal portion due within one year 4, 557 86, 575
Deferred charges (premium paid on reserve
account investments) I, 908
Total Other Assets 716, 951
Total Assets $8, 528, ?28 Total Liabilities and Net Worth $8, 528, 728
(See notes to financial statements�
This statement is an integral part of report dated April 28, 1965.
35
Exhibit 26
Village of Brooklyn Center
Public Utilities Fund
ANALYSIS OF SURPLUS
December 31, 1964
Surplus Contributed Through Restricted Surplus
5pecial Assessments and Contractors Construction Revenue Bond Reserve Unrestricted
Water Dept. Sewer Dept. Total Accaunt Account Account Total Surplus
Balance, January 1, 1964 $2, 328, 815 $4, 354, 099 $6, 682, 914 $I3, 506 $38, 775 $78, 182 $I30, 463 542
Adjustments
Reduction in restricted surplus balances
to the amount required at January 1, 1964
as per bond covenants 18?) 3, I82) 3 369} 3, 369
Adjusted Balance January 1, 1964 $2, 328, 815 $4, 354, 099 $6, 682, 914 $13, 506 $38, 588 $75, 000 $127, 094 3, 9I1
Additions;
Special assessment and contractor projects 239, 929 123, 828 363, 757
Interest and discounts earned on the invested balance
of construction funds restricted to use for
construction purposes, credited directly
to the construction account 22, 101 22, 101
Transferred from operating revenue (E�ibit 27) 65, 021 65, 02I 137, 760
De ductions
Interest and paying agent charges 38, 684) 38, 684�
Balance December 3I, 1964 $2, 568, 744 $4, 477, 927 $7, 046, 671 $35, 607 $64, 925 $?5, 000 $I75, 532 $141, 67I
See notes to financial statements
t
This statement is an integral part of report dated April 28, 1965. i
1
36
Exhibit 27
Village of Brooklyn Cen�er
Public Utilities Fund
STATEMENT OF INCOME AND EXPENSE
Year 1964
Water Sewer
Department Department Total
Operating Income
Services to customers $153, 43I $171, 242 $324, 673
Customer penalties 344 4, 735 5; 079
Earnings on temporary investments 6, 527 6 526 I3 053
Other income 1, 090 350 I, 440
Gross Operating Revenue of the Utility $161, 392 $182, 853 $344, 245
Less; Operating rev�nue deductions
Operating expenses (Exhibits 28 and 29) 55, I53 $103, 099 $158, 252
Depreciation (Exhibit 30) 43, 059 44, 648 87, 707
Total Operating Revenue Deductions 9g, 212 $147, 747 $245 959
Operating Income From Utility Operation 63, 180 35, 106 98, 286
r
Initial charges to new customers for
service hook up (principal and interest) 102, 484 2, O11, 104, 495
Net Operating Income $165, 664 37, I17 $202, 781
Income Deduction
Transfers for debt redemption (to Revenue Bond Account) 65, 021
Net Income Balance to Unrestricted Surplus $137, 760
(See notes to financial statements)
t This statement is an integral part o� report dated April 28, 1965.
1
37
Village of Brooklyn Cer�;ter Exhibit 28
Public Utilities Fund
WATER DEPARTMENT OPERATING EXPENSES
Year 1964
Sour c e of Supply
Power 8, 699
Purification supplies 4, 756
Labor 2, 844
Repairs to structures 1, 376
Materia.ls 9�9
Operation and maintenance of equipment 344
Fuel heating 330
Supplies 322
Small tools 160
Other 36 $I9, 816
Transmission
Labor 5, 774
Materials 2, �}08
Equipment rental and supplies 92 g, �7�
Administration
Salaries and wages $1z, 645
Rent and administration (to Village of Brooklyn Center) 4, 350
Provision for Public Employees Retirement Fund 1, 092
Insurance 938
Water charge refunds 610
Operation and rr�aintenance of equipment 495
Consulting fees 482
Fuel equipment �19
SmaII tools I36
Uncollectible accounts 89
Printing 51
Supplies 44
Mileage 37
Dues and subscriptions 34
Schools and conferences 31
Repairs to building 13
Other 14 21, 4$0
Customer Accounting and Collection
Salaries and wages 4, 125
Postage 1, 076
Printing 179
Operation and maintenance 123
Other 80 5, 583
Total Water Departxr�ent Operating Expenses $55, 153
(See notes to financial statements)
This statement is a.n integral part of report dated April 28, 1965.
38
Exhibit 29
Village of Brooklyn Center
Public Utilities Fund
SEWER DEPARTIVIEI'�TT �PERATING EXP�NSES
Year 1964
Disposal Source
Rent City of Minneapolis $65, 807
Rent Village of Crystal 3, 474 69, 281
Pumping
Power 3, 177
Labor 2, 797
Materials 203
Alarm system I55
Supplie s 148
Fuel heating 120
Repairs and maintenance o£ lift stations 56
Equipment rental 22
Operation and maintenance of equipment Z0 6, 698
Transmission
Labor 3, 965
Repairs to mains 318
Equipment rental 300
Materials 63
Supplies 27 4, 673
Administration
Salaries and wages 8, 207
Rent and administration(to Village of Brooklyn Center) 4, 350
Consulting fees 3, 075
Provision for Public Employees Retirement Fund I, 092
Insurance 51D
Operation and maintenance pf equipment 454
Fuel equipment 419
Sewer charges refunded 151
Small tools 135
Printing 5I
Penalties pefunded 5�
Mileage 37
Repairs to building I3
Dues and subscriptions 9
Other 14 1$, 568
Customer Accounting and Collection
Salaries and wages 2, 475
Postage 076
Operation and maintenance of equipment 123
Printing and supplies I76
Other 29 3, 879
Total Sewer Department Operatin� Expenses $103 099
I (See notes to financial statements)
This statement is an integral part of report dated April 28, 1965.
�9
i
Exhibit 30
Village of Brooklyn Center
Public Utilities Fund
SUMMARY STATEMENT OF PLANT AND PROPERTY
AND PROVISION FOR DEPRECIATION
December 31, 19b4
Assets Provision for Depreciation
Balance Balance Balance Balance Depreciable
I-1 -64 Additions Ded'ns 12-31 -64 1-1 -b4 Additions Ded'ns 12-31 -64 Life (Years)
Water De artrnent
P
Mains and lines $1, 953, 260 $245, 069 $2, 198, 329 86, ?27 $19, 532 $IOb, 259 100
Structures 363, 660 363, 660 43, 281 11, 489 54, ??0 30
Consumer meters in use 89, 165 9, 575 98, 740 I7, 65I 4, 458 22, 109 20
Equipment 139, 159 3, 771 142, 930 27, 127 7, 580 34, 707 5, I0, 20, 25
Total Water De artment 2 2 8 15
p 545, 44 $25 4 0 $2, 803, 659 $174, 786 $43, 059 $-0- $217, 845
Sewer Department
Mains and lines $4, 364, 490 $128, 887 $4, 493, 377 $216, 312 $43, 645 $259, 957 100
Equipment 10, 029 10, 029 3, 857 1, 003 4, 860 10
Total Sewer Department $4, 374, 519 $128, 887 $-0- $4, 503, 406 $220, 169 $44, 648 $-0- $264, 817
Total Water and Sewer Departments $6 919 763 $387, 302 $-0- $7, 307, 065 $394, 955 $87, 707 $-0- $482, 662
(See notes to financial statements)
This statement is an integral part of report dated April 28, 1965.
I
I
40
Village of Brooklyn Center Exhibit 31
t Public Utilities Fund
STATEMENT OF LONG TERM DEBT
Decexnber 31, 1964
Interest Principal Interest Coupons
Certificate Coupon Outstanding, Retired Outstanding Date of Outstanding Retired Outstanding
Numbers Rates I-I -64 1964 12-31 -64 Maturity I-1 -64 1964 12-31 -64
1-1 -64 19, 293. 75 $19, 293. 75 -0-
i 7-1-64 19, 293. 75 19, 293. 75 -0-
I-1-65 I9, 293. 75 19, 293. 75
7-1 -65 19, 293. 75 19, 293. 75
1-5 3. 75% 25, 000, 00 25, 000. 00 1-1 -66 19, 293. 75 I9, 293. 75
7-T-66 18, 825. 00 18, 825. 00
6-10 3. 75 25, 000. 00 25, 000. 00 I-1-67 I8, 825. 00 18, 825. 00
7-1-67 18, 356. 25 Y8, 356. 25
11-15 3. ?5 25, 000. 00 25, 000. 00 1-1 -68 I8, 356. 25 18, 356. 25
7-1 -68 I7, 887. 50 17, 887. 50
16-20 3. ?5 25, 000. 00 25, 000. 00 1-1 -69 17, 887. 50 17, 887. 50
7-1 -69 I7, 4I8. 75 17, 4I8. 75
21-25 3. 75 25, �00. 00 25, 000. 00 I-1 -70 17, 4I8. 75 17, 418. 75
7-1-70 16, 950. 00 16, 950. 00
26-31 3. ?5 30, 000. 00 30, 000. 00 1-1 -71 16, 950. 00 I6, 950. 00
7-1 -71 16, 387. 50 I6, 387. 50
32-37 3. 75 30, 000. 00 30, 000. 00 1-1-72 16, 387. 50 16, 387. 50
7-1-72 15, 825. 00 I5, 825. 00
38-43 3. 75 30, 000. OQ 30, 000. 00 1-1 -73 15, 825. 00 15, 825. 00
7-1 -73 15, 262. 50 I5, 262. 50
44-49 3. 75 30, 000. 00 30, 000. 00 1-1-74 I5, 262. 50 15, 2b2. 50 I
7-I -74 14, 700. 00 I4, 700. 00
50-55 3. 75 30, 000. 00 30, OQO. 00 1-1-75 14, '700. 00 14, 700. 00
7-1 -75 14, 137. 50 14, 137. 50 I
56-61 3. 90 30, 000. 00 30, 000, 00 1-1 -76 14, 137. 50 14, I37. 50
7-1 -76 I3, 552. 50 13, 552. 50
62-68 3. 90 35, 000. 00 35, 000. 00 I-1-?? 13, 552. 50 13, 552. 50
?-1 -77 12, 870. 00 12, 8?0. 00
69-75 3. 90 35, 000. 00 35, OOQ. 00 1-1 -7� 12, 870. 00 I2, 870. 00
7-1 -78 12, 187. 50 12, 187. 50
76-82 3. 9� 35, 000. 00 35, 000. 00 1-1-?9 12, I87. 50 12, 187. 50
7-I -?9 11, 505. 00 II, 505. 00
83-89 3. 90 35, 000. 00 35, 000. 00 1-1 -80 11, 505. 00 I I, 505. 00
7-1 -80 10, 822. 50 10, 822. 50
90-96 3. 90 35, 000. DO 35, 000. 00 1-1-81 10, 822. 50 I0, 822. 50
?-1 -81 10, 140. 00 10, 140. 00
97-104 3. 90 40, 000. 00 40, 000. 00 1-I -82 10, 140. 00 10, 140. 00
7-1 -82 9, 360. 00 9, 3b0. 00
I05-112 3. 90 40, 000. 00 40, 000. 00 1-1 -83 9, 360. 00 9, 360, 00
7-1-83 8, 580.00 8, 580. 00
4I
Village of Brooklyn Center Exhibit 31
Public Utilities Fund Cont'd
STATEMENT OF LONG TERM DEBT
December 31,1964
Interest Principal Interest Coupons
Certificate Coupon Outstanding Retired Outstanding Date of Outstanding Retired Outstanding
Numbers Rates 1-1 -64 1964 I2-3I -64 Maturity 1-I -64 1964 12-31 -64
113-120 3. 9� 40, 000, 00 40, 000. 00 I-1 -84 8, 580. 00 8, 580. 00
7-1 -84 7, 800. 00 7, 800. 00
121-128 3. 90 40, 000. 00 40, 000. 00 1-I -85 7, 800. 00 7, 800. 00
7-1 -85 7, 020. 00 7, 020. 00
I29-137 3. 90 45, 000. 00 45, 000. 00 I-1-86 020. 00 7, 020. 00
7-1 -86 6, 142. 50 6, 142. 50
138-146 3.90 45, 000. 00 45, 000. 00 1-1-8? 6, 142.50 6, 142. 50
7-1 -87 5, 265. 00 5, 265. 00
147-155 3. 90 45, 000. 00 45, 000. 00 1-1 -88 5, 265. 00 5, 265. 00
7-1 -88 4, 387. 50 4, 387. 50
I 156-164 3, 90 45, 000. 00 45, 000. 00 1-1=89 4, 387. 50 4, 387. 50
7-I -89 3, 510. 00 3, 5I0. 00
165-173 3. 90 45, 000. 00 45, 000. 00 I-1 -90 3, 510. 00 3, 5I0. 00
7-1 -90 2, 632. 50 2, 632. 50
174-182 3. 90 45, 000. 00 45, 000. 00 1-1-91 2, 632. 50 2, 632. 50
7-I -91 1, 755. 00 I, 755. 00
183-191 3. 90 45, 000. 00 45, 000. 00 1-1 -92 1, 755. 00 1, 755. 00
7-1 -92 877. 50 877. 50
1 g2-200 3. 90 45, 000. 00 45, 000. 00 1-1-93 877. 50 877. 50
$I, 000, 000. 00 -0- $1, 000, 000. 00 $684, 783. 75 $38, 587. 50 $646, I96. 25
General provisions of issuea
A. Obligations are payable solely from net operations of the Public Utilities
and are in no way a general tax liability of the Village.
B. AIl 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 redeemed prior to January 1, 1977, premium of 3%.
2. If redeemed January 1, 1977, or thereafter prior to January I, I981, premium of 1-1 /2%. l
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 bond holders. Paragraph 8
of the resolution provides for the segregation of assets and the restriction of surpluses for
debt retirement purposes and defines the manner in which the activities of the Public Utilities Fund
will be accounted for. Note 7 of "Notes to Financial Statements" refers to various accounting
requirements in more detail and should be referred to.
(See notes to financial statements)
This statement is an integral part of report dated April 28, 1965.
42
Exhibit 3 2
Village of Brooklyn Centex°
Agency Funds
COMBINED BALANCE SHEET
I December 31, 196�4
Ag�nt For
Fire Public
Department Employees
Combined Relief Retirement
Tatal Association Association
ASSETS
Cash on hand and in depositories $I2, 340 12, 340
Temporary investxnents 19 681 19 681
I I, Due from other funds 4 4
PERA contributions due from
en�erp�°ise funds 3, 509 3, 509
Cash with County Treasurer's o�fice 103 33 70
Taxes receivable:
Levied in 1963 collectible in 1964 916 281 635
Prior years tax levies 415 175 240
Total Assets $36, 968 $493 $36, 475
LIAB L
I ITIES AND FUND BALANCES
Due to other funds 10 10
Fund balances (See Exhibit 33) 36, 958 $493 36, 465
Total Liabilities and Fund Balances $36, 968 $493 $36, 475
(See notes to financial statements)
i This statement is an integral part of report dated April 28 1965
43
Exhibit 33
Village of Brooklyn Center
Agency Funds
COMBIIVEI? STAT�MENT
OF REVENUE, EXPENDITi,TRES AND FUND BALANCES
Year 1964
Fire Public
Departm�nt Exnployees
Combined Relief Retirement
Tota1 Assoc�.ation Association
Fund Balance January 1, 1964 $32, 943 433 $32, 510
Add: Revenue
Real estate and personal property
taxes 38, 671 11, 836 26, 835
Insurance premiurn rebate 5, 563 5, 563
PERA contributions from
enterprise funds
Liquor stores 2, I84 2, 184
Public utility fund I, 325 1, 325
1 Earnings on temporary investments 419 419
Balance and Additions $81, 105 $17, $32 $63, 273
Deduct: Expenditure s
Payments to principal of agency 44, 069) I7, 314) 26, 755)
Write off tax levy balances 7$) 25) 53)
Fund Balance December 31, I964 $36, 958 493 $36, 465
(See notes to financial statements)
This statement is an integral part of report da�ed April 28, 1965.
44
Exhib it 3 4
Village of Brooklyn Center
Investment Trust Fund
BALANCE SHEET
j December'31, 1964
ASSETS
Cash in depositories 18, 4�78
Accrued interest receivable 5, �20
Investments: Face Cost
Value DisGount �asis
U. S. government securities $500, 000 $2 199 $497 80I
Brooklyn Center securities 35, 500 35, 500
Certificate of time deposits
commercial banks 400, 000 400, 000
Construction loan to 1963 Fund 190, 000 190, OQO
$1, 125, 500 $2, 199
Total Investments 1, 1�3, 301
Total Assets $I, 146 999
LIABILITI��
Due contractors (Performance deposits) 18, 382
Unclaimed cash (Law enforcement activities) 17
Due participating funds;
Special assessment funds $?71, 679
Public utilities fund 280, 861
Municipal liquor fund 30, 520
Public employees retirement association fund I9, 681,
General fund I7, 941
Poor fund 7, 343
Park bond redemption fund 407
Certificate of indebtedness fund 168
Total Due to Participating FuMds (See Exhibit 3�i) 1, I28, 600
I Total Liabilities $1, i46 999
(See notes to financial sta�ements)
This state.ment is an integral part of report dated Apri1 28, I�65.
1
j
45
j
Exhibit 35
Village of Brooklyn Center
Investment Trust Fund
STATEMENT OF EARNINGS
Year 1964
Interest Income
Uni,ted States government securities $30, 665
Construction loans I 5, 62
Certificates of deposit I, 490
Brooklyn Center securities 1, 393
Total Interest Income $48, 7I0
Expenses
Audit 343
Net Income Distributed to Participating Funds $48, 367
Explanation
The Investment Trust Fund was established during �.956 to provide a unifor�,n
and consistent means for investing texnporary surpluses of cash. Net income of
the fund is distributed annually to each of the participating funds on tk�e basis of the
average yearly investment rnaintained by each fund. The net incom� and the
effective rate of return on average investment by parti�ipating fund� is shown
below by years.
Rate of Net
Year Return Income
1964 3. 64% 48, 367
1963 3. 18 45, 056
1962 3. 17 61, 129
1961 3, 05 55, 939
I960 3. 62 57, 908
1959 3. 27 33, 494
i958 2. 62 14, 835
1957 3.12 9,938
1 1956 2. 77 i, 832
Total Distributed Earnings Since Inception of the Fund $328, 498
j (Ses notes to financial statements)
This statement is an integxal part of report dated April 28 1965
_46_
i
I
Exlgii��t 36
1 Village of Braokiyn Center
Investment Trust Fund
CHANGES IN PAR'TICIPATING:FUND BALANCES
Year 196�k
Balance Net Fund Income of Balance
January 1, AdditioMS 1964 D�ceznber 3I,
1964 (Withdrawal5) Distribut�d 1964
1 Special Assessment Funds
1958 B 155, 609 $1D, 800 6, 245 172, 654
1955 A 134, 12? I2, 735) 5, 144 I26, 536
i� 1956 AC 129, 239 8, 286} 5, 58I 126, 534
1957 AB 114, 384 20, 560) 4, 623 98, 44?
1958 A 59, 039 5, 090 2, 958 67, 087
1959 AB 39, 761 8, 700 2, 5I5 50, 976
Bond Fund No. I 49, 033 2, 325) 2, 245 48, 953
1963 A 2,865 31,425 450 34,740
1961 AB 1, 056 21, 180 1, 528 23, 764
1956 B 59, 221 40, 620) 2, 378 Z0, 979
1960 AB 750 750) i, 009 1, 009
Total Special Assessment Funds 745, 084 8, 081) $34, 676 771, 679
1 Public Utilities Fund 193, 965 79, 000 7, 896 280, 861
Municipal Liquor Fund 46, 432 I8, 000) 2, 088 30,520
Public Employees Retirement
Association Fund 17, 579 1, 68�4 418 I9, 683
General Fund 15, 409 17 2, �15 I7, 94I
Poor Fund 5, 144 2, 000 199 7, 343
Park Bond Redemption Fund 452 452) 407 407
i t
Certificate of Indebtedness Fund 184 184) 168 168
Total AIl Funds $1, 024, 249 $55, 984 $48, 367 $1, 128, 600
(See notes to financial statements)
1 This statement is an inte ral art of re ort dated A ril 28, 1965.
g P P P
47
Village of Brooklyn Center Exhibit 37
j� SUMMA3�Y STATEMENT OF GENERAL FIXED ASSETS
December 31, 1964
January 1, Year 1964 Balance
Investment 1964 Acquisitions Disposals Dec. 31, 1964
Land and land improvements 39, I18 2, 530 41, 648
t Building Osseo Road and 63rd Avenue I00, 589 1, 025 10I, 614
Building 65th and Lyndale 85, 034 85, 034
Building Municipal Hall 54, 706 54, 706
Buildings Other 36, 315 36, 315
Park properties 4includes buildings)
Northport 106, 238 106, 238
Grandview 84, ?72 8 84, 780
Willow Lane 60, 976 169 61, 145
Bellvue 48, 947 2, 129 51, 076
Garden City 37, 378 9? 37, 475
Happy Hollow 32, 701 32, 701
Kylawn 27, 255 1, 186 28, 44I
Evergreen 24, 098 24, 098
Orchard 16, 020 16, 020
South Creek 5, 655 5, 655
Wangstad 361 361
Palmer Lake Terrace 3, 745 3, 745
Brooklane 453 453
Lions Club Park 1, 375 1, 375
Undistributed (Note 8) 28, 498 61, 245 g9, 743
Equipment
Street and highway 196, 888 24, 819 725 220, 982
Fire protection 86, 309 4, 043 I, O16 89, 336
Recreation 26, 573 5, 291 1, 477 30, 387
r Civil defense 10, 452 4, 152 892 I 3, 7I 2
Police 12, 799 13, 053 8, 629 17, 223
Courts 127 127
General equipment 62, ?29 723 1, 185 62, 267
Furniture ancl fixtures 38, 76I 820 39, 58I
Storm� sewer and street projects 3, 156, 566 2II, 461 3, 368, 027
Totals $4, 384, 063 $334, 126 $I3, 924 $4, 704, 265
Source of Investment
General indebtedness 574, 931 1, 070 576, 001
Ad valorem levies 339, 588 I21, 595 $13, 924 447, 259
Liquor store revenues and certificates 304, 57I 304, 571
Contributions received 8, 406 8, 406
Special assessment projects (storm sewers and streets)
Owners, contractors and Village share 2, 979, 387 211, 461 3, 190, 848
Hennepin County 177, 180 177, 180
Totals $4, 384, 063 $334, 126 $13, 924 $4, 704, 265
QSee notes to financial statements)
This statement is an integral part of report dated April 28, 1965.
48
Exhibit 38
Village of $rooklyn Center
SUMMA RY STA T EMENT
OF GENERAL LONG TERM DEBT AND IIVTEREST
December 31, 1964
Amount Available And to be Provided
Amount available in debt service funds (See E�.ibit 15):
Park bond redemption fund 11, 216
Certificate of indebtedness redemption fund 3, 583
State loan fund 689
On deposit with paying agents 39, 051
Total Amount Available 54, 539
Amount to be provided in future periods:
For interest $I11, 750
For principal 487, ?1.4
Total Amount to be Provided 599 464
Total Amount Available And to be Provid�:d $654, 003
General Debt And Interest to be Paid in Future Periods (Exhibit 39)
General debt (principal portion):
Park acquisition bonds $335, 000
Certificates of indebtedness 47, 500
State loan certificates 6, 800
j Assessments on Village properties (Note 9) I45, 902
Total General Debt (Principal Portion) $535, 202
Interest cou ons matured but not resented to a in a ent 225
P P P Y g g
Interest payable in future periods:
Bonds and certificates 118, 576
Total General Debt And Interest to be Paid in Future Periods $654, 003
(See notes to financial statements)
This statement is an integral part of report dated April 28, 1965.
49
Village of Brooklyn Center Exhibit 39
SCHEDULE OF
GENERAL LONG TERM DEBT AND INTEREST BY MATURITIES
December 31, 1964
General Debt Princi al Portion Interest Payable
P
Payment Certificates Certificates
Due Total Park of State Loan Assessments Payable Total Park of State Loan
During Principal Bonds Indebtedness Certificates General Parks Interest Bonds Indebtedness Certificates
1965 43, 829. 50 20, 000, 00 12, 000. 00 1, 300. 00 3, 292. 00 7, 237. 50 14, 885. 94 12, 886. 25 1, 829. 69 I70. 00
1966 43, 603. 88 20, 000. 00 12, 000. 00 1, 300. 00 3, 292. 00 7, OI I. 88 I3, 40I. 76 12, I87. 50 1, 076. 7b 137. 50
1 67 43 703 8 20 000. 00 L2 000. 00 I, 400. 00 3, 292. 00 7, Ol I. 89 12, 2I3. 76 11, 470. 00 638. 76 I05. 00
9 9 9
1968 45, 088. 00 20, 000. QO 1I y 500. 00 I, 400. 00 3, 292. 00 8, 896. 00 11, 009. 88 10, ?30. 00 209. 88 70. 00
1969 33, 591. 59 20, 040. 00 1, 400. 00 3, 295. 59 8 896 00 10, 008. 75 9, 973. 75 35. 00
d p pp 7 29I. 12 8, 896. 00 9, 193. 75 9, 193. 75
1970 36, 187. 12 2, 0 0.
1971 37, 352. 09 20, 000. 00 7, 291. 12 10, 060. 97 8 39b 25 8, 396. 25
1972 41, 206. 19 20, 000. 00 7, 291. 12 13, 915. 07 7, 598. 75 7, 598. 75
0 00 7 29I. I2 9, 069. 66 6, 796. 25 6, 796. 25
1973 36, 360. 78 20, 00
1 q74 29, 865. 31 20, 000. 00 7, 291. I 2 2, 574. 19 5, 988. 75 5, 988. ?5
1975 27, 291. 12 20, 000. 00 7, 291. I2 5, I75. 00 5, 175. 00
1976 22, I23. 00 20, 000. 00 2, 123. 00 4, 355. 00 4, 355. 00
1477 20, 000. 00 20, 000. 00 3, 535. 00 3, 535. 00
1978 20, 000. 00 20, 000. 04 2, 715. 00 2, 715. 00
1979 20, 000. 00 20, 000. 00 1, 895. 00 1, 895. 00
1980 20, 000. 00 Z0, 000. 00 1, 075. 00 1, 075. 00
1981 15, OOQ. 00 I5, 400. 00 332. 50 332. 50
16 118 576 34 114 303 75 3 755.09 517.50
Totals $535, 202. 47 $335, 000. 00 47, 500. 00 6, 800. 00 $62, 333. 31 $83, 569.
(See notes to financial statementsj
This statement is an integral part of report dated April 28, 1965.
50
I
Village of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
Yea.r 1964
Note 1: The "Combined Balance Sheet All Funds and Groups
Condensed Form) Exhibit 1" is presented as an information
statement only. The reader is cautioned that the figuxes as
shown under the "Combined Total" column are a combining of
unlike purpose groups (funds) and cannot be construed as �ndicative
of the over-all financial position of the Village. The financial
position and the results of operations of each fund should be
ascertained by reference to the individual exhibits as submitted
for that fund within this report.
Note 2: General Fund
t The amount of $23, 625 has been appropriated froxn �eneral
�fund unappropriated surplus ($I80, 556} for general Vill�.ge
operations during 1965.
Note 3: Special Assessment Funds
During the previous year (1963} unused construction monies
totalling $7, 133 were transferred to surplus available for debt
retirement in the 196I AB Fund. A subsequent audit and review
of fi,nal contract costs disclosed that engineering costs tota,lling
$4, 093 had been inadvertently allocated to projects laeing
construct,ed under the 1963 Fund and these costs wer� properly
allocable to the 1961 AB Fund. The correction of this error
reduces the previous credit to surplus of the 1961 AB Fund
from $7, 133 to $3, 040 and relieves the 1963 Fund of constructian
expenditures erroneously charged to it.
Note 4: �pecial Assessment Funds
During 1964, appropriations and related app�ropriatiqn
expenditures for certain projects were transferred from the
1963 Fund to the 1965 Fund. The financin,g for these projects
is arranged through the 1965 Fund and the transfer was necessary
so that the activities of project construction, financing and assessment
of costs to property owners are accounted for within the same fund
entity.
51
i
Village of Brooklyn Center
NOTES TO FINANCIAL STATEM�NTS
Year 1964
Note 5: Municipal Liquor Fund
The resolution authorizing the issuance of revenue certificates
contains restrictive covenants which were enacted £or the benefit
and protection of certificate holders.
Paragraph 5c provides that at least quarberly the £ollowing
year's principal and interest requirements be segregated and
set aside in cash for the benefit of certificate holders. As of
December 31, 1964 cash in the amount of $15, 364 (representing
interest and principal falling due on Januax°y l, 1965) had been
transferred to the paying agent.
Para ra h 5d re uires a restriction on the availabilit of
g P 9 Y
surplus for transfer which is equal to the n;ext ensuing year's
principal and interest requirements. As of December 31, 1964
restricted surplus totalled $17, 208. ($13, OOQ principal. due
January 1, 1966 and interest for the year 1965 in the amount
of $4, 208).
1Vote 6: Municipal Liquor Fund
The Lyndale Avenue store (Store #1) and the Osseo road
store (Store #2) are located on Village owned properties.
Store #3 is located in the Brookdale Shopping Center aMd thE
premises are occupied pursuant to terms of a five year leas�
which expires on February 28, 1967. The rental for the store
and warehouse facilities is fixed at $667 per xnonth. The rental
for parking and mall facilities is based upon a proportionate
share of the mainten�.nce and uFkeep expenditures made by the
landlord and is adjustable yearly.
Note 7s Public Utilities Fund
Public Utilities revenue bonds were is su�d 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 Village. The resolution
authorizing and directing the issuance of these bonds c�e�ines the
method of accounting for the utilities fund and imposes certain
covenants and restrictions which serve the purpo�e of protecting
ereditors' interests.
As required by paragraph l0e of the issuing reso�.ution, an
analysis of each account balance appears below:
52
Village of Br�aoklyn Center
NOTES TO FINAN�IAL STATEMENTS
Year 19b4
Note 7: Public Utilities Fund
(Cont'd)
Construction Account
Proceeds of bond sales $1, 000, 000
Earnings provided by temporary
investmer�t of construction monies 35, 607
Construction expenditures paid 620, 936)
Account Balance 414, 671
Revenue Bond Account
Cash on hand with paying agent to
meet coupons maturing 1-1 -65 19 668
Accumulated amounts set aside to
meet 1965 requirements for
interest and principal
Cash in bank 4, 004
Certificates of deposit 60, 921 64, 925
Account Balance 84, 593
Reserve Account
Face value of government securities 75, 000
A suxnmar which reconciles restricted assets with
Y
restricted surplus and also compares restricted surplus
with restriction requirements as set forth by th�
resolution authorizing the sale of revenue bonds is
presented below:
Revenue
Construction Bond Reserve
Account Account Account
Assets restricted 12-31 -64 $414, 67I $84,593 $75, 000
Less:
I. Liabilities payable from
restricted funds 6 59g} (19, 668)
2
Monies deriv d from
e
borrowing (bond issues) 372, 466
Restricted Sur lus 12-31 -64
p 35, 607 $64, 925 $75, 000
Required per Resolution 35, 607 $63, 587 $75, 000
53
I,
Village of Brooklyn Center
NOTES TO FINANCIAL S'�'ATEMENTS
Year 1964
t Note 8: Summary Statement of General Fixed Assets
Undistributed park property acquisitions represent CO3t5 which
presently are not separa}�le and wi].1 be alloca.ted to inda.vidual
parks upon completion of the acquisition and construGtion program.
Current year acquisitions charged to this c�.tegory consist of the
following:
Shelter houses constructed (2 locations) $54,-0Q9
Special assessments paid on park property 7, 236
$61, ��k5
Note 9: Summar Statement of General Lon Term Debt and In�eres�
Y
Special assessments which relate to improvements benefit�r�g
Village owned properties total $I45, 902 as of December 31, 1964.
The payment for these improvements (with no interest charge)
has been scheduled over a period extending through 19'76. These
assessments are obligations of the park boaxd fund and the general
fund and payment is pla.nned under norrnal budg�t procedures,
whereby the needed monies will be appropriated dnring the years
as each installment becomes due.
Note 10: The firm of Lindquist, Magnuson and Glennon, at�orneys
for the Village, has advised that as of May 20, 1965 there
were no contingent Iiabilities or pending lawsuits in which the
Village was involved, which would be material to the financial
representations contained on the financial statements.
54