HomeMy WebLinkAboutCAFR-1995 1
COMPREHENSIVE
ANNUAL
FINANCIAL REPORT
of the
CITY OF BROOKLYN CENTER MINNESOTA
For The Year Ended December 31, 1995
I MICHAEL J. MCCAULEY, CITY MANAGER
Prepared by
THE DEPARTMENT OF FINANCE
Charles R. Hansen, Director
(Member of Government Finance Officers
Association of the United States and Canada)
Citv of Brooklvn Center
COMPREHENSIVE ANNUAL FINANCIAL REPORT
Year Ended December 31, 1995
TABLE OF CONTENTS
Exhibit Page
Number Number
Title Page
I. INTRODUCTORY SECTION
Table of Contents i- v
City Officials 1
Organization Chart 2
City Manager's Letter 3
Finance Director's Letter 4- 12
Certificate of Achievement 13
II. FINANCIAL SECTION
Independent Auditors' Report 14
A. General Purpose Financial Statements
(Combined Statements Overview):
1 Combined Balance Sheet All Fund Types and
Account Groups 1 16 17
Combined Statement of Revenues, Expenditures
and Changes in Fund Balances All Governmental
Fund Types 2 18
Combined Statement of Revenues, Expenditures and
Changes in Fund Balances Budget And Actual
General, Special Revenue and Annually Budgeted
Capital Projects Funds 3 19
Combined Statement of Revenues, Expenses and
Changes in Retained Earnings Proprietary
Fund Types 4 20
Combined.Statement of Cash Flows
Proprietary Fund Types 5 21
Notes to Financial Statements 22 49
i
Citv of Brooklvn Center
COMPREHENSIVE ANNUAL FINANCIAL REPORT
Year Ended December 31, 1995
TABLE OF CONTENTS
Statement/
Schedule Page
Number Number
B. Combining, Individual Fund and Account Group
Financial Statements and Schedules:
General Fund:
Comparative Balance Sheet A-1 51
Comparative Statement of Revenues,
Expenditures and Changes in Fund
Balance Budget and Actual A 2 52
Schedule of Revenues Other Financing
Sources Budget and Actual S-1 53 54
Schedule of Expenditures Budget and Actual S-2 55 59
Special Revenue Funds:
Combining Balance Sheet B-1 61
Combining Statement of Revenues,
Expenditures and Changes in Fund
Balances Budget and Actual B-2 62 63
Debt Service Funds:
Combining Balance Sheet C-1 65
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances C-2 66
Capital Projects Funds:
Combining Balance Sheet D-1 68
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances D-2 69
Statement of Revenues, Expenditures and
Changes in Fund Balance Budget and Actual
Housing and Redevelopment Authority Fund D-3 70
Statement of Revenues, Expenditures and
Changes in Fund Balance Budget and Actual
Economic Development Authority Fund D-4 71
Project-Length Schedule of Construction
Projects Capital Improvements Fund S-3 72
Project-Length Schedule of Construction Projects
Municipal State Aid Construction Fund S-4 73
ii
Citv of Brooklvn Center
COMPREHENSIVE ANNUAL FINANCIAL REPORT
Year Ended December 31. 1995
TABLE OF CONTENTS
Statement/
Schedule Page
Number Number
Project-Length Schedule of Construction Projects
Special Assessment Construction Fund S-5 74
Enterprise Funds:
Combining Balance Sheet E-1 76 77
Combining Statement of Revenues, Expenses and
Changes in Retained Earnings E-2 78 79
Combining Statement of Cash Flows E-3 80 81
Comparative Statement of Revenues, Expenses
and Changes in Retained Earnings Municipal
Liquor Fund E-4 82
Comparative Statement of Revenues, Expenses
and Changes in Retained Earnings Golf
Course Fund E-5 83
Comparative Statement of Revenues, Expenses
and Changes in Retained Earnings Earle
Brown Heritage Center Fund E-6 84
Comparative Statement of Revenues, Expenses
and Changes in Retained Earnings Recycling
and Refuse Fund E-7 85
Comparative Statement of Revenues, Expenses
and Changes in Retained Earnings Water
Utility Fund E-8 86
Comparative Statement of Revenues, Expenses
and Changes in Retained Earnings Sanitary
Sewer Fund E 8�
Comparative Statement of Revenues, Expenses
and Changes in Retained Earnings Storm
Drainage Fund E-10 88
Internal Service Funds:
Combining Balance Sheet F-1 90
Combining Statement of Revenues, Expenses
and Changes in Retained Earnings F-2 91
Combining Statement of Cash Flows F-3 92
iii
Citv of Brooklvn Center
COMPREHENSIVE ANNUAL FINANCIAL REPORT
Year Ended December 31, 1995
TABLE OF CONTENTS
Statement/
Schedule Page
Number Number
Agency Funds:
Statement of Changes in Assets and Liabilities
Employee Deferred Compensation Fund G 94
General Fixed Asset Account Group:
Schedule of Changes in General Fixed Assets
by Source S-6 96
Schedule of General Fixed Assets
By Function and Activity S-7 97
Schedule of Changes in General Fixed Assets
By Function and Activity S-8 98
General Long-Term Debt Account Group:
Comparative Statement of General
Long-Term Debt H 100
Summary of Debt Service Requirements
to Maturity I 101
III. STATISTICAL SECTION Table Page
Number Number
General Governmental Expenditures by Function 1 103
General Governmental Revenues and Other
Financing Sources by Source 2 104
Tax Levies and Tax Collections 3 105
Assessed Value and Estimated Market Value of All
Taxable Property 4 106
Direct and Overlapping Tax Rates and Tax Levies 5 107.
Special Assessment Billings and Collections 6 108
Ratio of Net Bonded Debt to Assessed Value and
Net Bonded Debt Per Capita 7 109
Computation of Legal Debt Margin 8 110
Computation of Direct and Overlapping Debt 9 111
Ratio of Annual Debt Service Expenditures for
General Bonded Debt to Total General Fund
Expenditures 10 112
iv
Citv of Brooklvn Center
COMPREHENSIVE ANNUAL FINANCIAL REPORT
Year Ended December 31. 1995
TABLE OF CONTENTS
Table Page
Number Number
Schedule of Revenue Bond Coverage 11 113
Property Value, Construction and Bank Deposits 12 114
Principal Taxpayers 13 115
Schedule of Insurance Coverage 14 116-117
Demographic Statistics 15 118
Miscellaneous Statistical Facts 16 119-120
v
Citv of Brooklvn Center
CITY OFFICIALS
For the Year Ended December 31. 1995
ELECTED OFFICIALS
Term of Office Term Expires
Mayor Myrna Kragness Four Years 12/31/98
Councilmember Kristen Mann Four Years 12/31/96
Councilmember Kathleen Carmody Four Years 12/31/98
Councilmember Debra Hilstrom Four Years 12/31/98
Councilmember Elect Charles Nichols Four Years 12/31/96
APPOINTED OFFICIALS
City Manager Michael J. McCauley
City Clerk Sharon Knutson
City Treasurer Charles R. Hansen
City Attorney Kennedy Graven
City Prosecu�or Carson Clelland
Department Heads:
Community Development Brad Hoffman
Financial Services Charles R. Hansen
Fire/Emergency Preparedness Ronald Boman
Police Scott Kline
Public Works Diane Spector
Assessing Stephen Baker
Asst. City Manager/Personnel Coordinator Nancy Gohman
City Engineer Scott Brink
Civil Defense Coordinator Ronald Boman
Fire Marshall Ronald Boman
Health Officer Duane Orn, M.D.
Liquor Stores Gerald Olson
Public Works Superintendent Dave Peterson
Recreation Arnold Mavis
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City of Brooklyn Center Organization
ELECTORATE
Cky CouncU A
Commissbns
Administretb�
N Purchesing
i City Attomey City Manager Human Resources
Electbna
Ucensea
Cfty Clerk
r
FIRE DEPARTMENT POLICE DEPARTMENT FINANCIAL SERVICES COMMUNITY
PUBUC SERVICES I
-Fire Preventbn 'Patro1 DEVELOPMENT
-Engineering -investigation -Accounling
-Street Mntce -Fire Supressbn -Audit -Assessin
-Emergency Preparedness -C�ime Preve�tbn -UHI 9
-SanRe Sewer fty Bflfln9 -Ins b�a
�Y -Community Programs _Risk Mana ement
-Cent►al Gerage -Support Servlces 9 -EDA/HRA
8 �9 8 -D(s ch -Manegement Infortnetion Servicea -Zoning
-Storm Sewer -Liquor Stores -EBHC
-Weter Oept -Planning
-Pat1c Mntce
-Recreallon Programs
-Community CeMer
-Gdl Course
Caty of Brooklyn Center
A great place to st¢rt. A great place to stay.
June 10, 1996
HONORABLE MAYOR AND MEMBERS OF CITY COUNCIL
CITY OF BROOKLYN CENTER
I hereby transmit the Comprehensive Annual Financial Report of the
City of Brooklyn Center for the fiscal year ended December 31,
1995. Minnesota Statutes and City Charter, Section 7.12, require
that the financial statements of the City of Brooklyn Center be I
audited by the State Auditor or a certified public accountant
selected by the City Council. This requirement has been complied
with by the engagement of the firm of Deloitte and Touche LLP and
their report is included in the financial section of this report.
This report has been prepared following the guidelines recommended
by the Government Finance Officers Association of the United States
and Canada. The Government Finance Officers Association awards
Certificates of Achievement for Excellence in Financial Reporting
to those governments whose Comprehensive Annual Financial Reports
are judged to conform substantially with high standards of public
financial reporting, including generally accepted accounting
principles promulgated by the Governmental Accounting Standards
Board. Our financial reports for the past twelve years have
received this award. It is my belief that the accompanying report
meets program standards, and it will be submitted to the Government
Finance Officers Association for review.
Respect�ully su�mitted,
i
�/l,�G�i��' ���C�u/''
Michael J. N�C�ey
City Manage�
1
6301 Shingle Creek Pkwy, Brooklyn Center, MN 55430-2199 City H¢ll TDD Number (612) 569-3300
Recreation and Community Center Phone TDD Number (612) 569-3400 FAX (612) 569-3494
An Affirmatiue Action/Equal Opportunities Employer
City of Brooklyn Center
A great pl¢ce to start. A great pl¢ce to stay.
June 10, 1996
Mr. Michael J. McCauley
City Manager
City of Brooklyn Center
Dear Mr. McCauley:
The comprehensive annual financial report of the City of Brooklyn
Center for the fiscal year ended December 31, 1995, is hereby
submitted. Responsibility for both the accuracy of the data, and
the completeness and fairness of the presentation, including all
disclosures, rests with the City. To the best of our knowledge and
belief the enclosed data are accurate in all material respects and
are reported in a manner designed to present fairly the financial
position, results of operations, and cash flows of the various
funds and account groups of the City. All disclosures necessary to
enable the reader to gain an understanding of the government's
financial activities have been included.
The comprehensive annual financial report is presented in three
sections: introductory, financial, and statistical. Included in
the introductory section is this transmittal letter, the
governmen�.'s organizational chart and a list of principal
officials. The fihancial section includes the general purpose
financial statements and the combining and individual fund and
account group financial statements and schedules, as well as the
independent auditors' report on the financial statements and
schedules. The statistical section includes selected financial and
demographic information, generally presented on a multi year basis.
The City is required to undergo an annual single audit in
conformity with the provisions of the Single Audit Act of 1984 and
U.S. Office of Management and Budget Circular A-128, "Audits of
State and Local Governments". Information related to this single
audit, including the schedule of federal financial assistance,
findings and questioned costs, and independent auditors' reports on
the internal control structure and compliance with applicable laws
and regulations, is issued as a separate report.
REPORTING ENTITY
The financial reporting entity includes all funds and account
groups of the primary government (i.e., the City of Brooklyn Center
as legally defined), as well as all of its component units.
Component units are legally separate entities for which the primary
government is financially accountable.
6301 Shingle Creek Pkwy, Brooklyn Center, MN 55430-2199 City Hall TDD Number (612) 569-3300
Recreation and Community Center Phone TDD Number (612) 569-3400 FAX (612) 569-3494
An Affirmatiue Action/Equal Opportunities Employer
Blended component units, although legally separate entities, are,
in substance, part of the primary government's operations and are
included as part of the primary government. Accordingly, Economic
Development Authority and Housing and Redevelopment Authority are
reported as capital projects funds of the City of Brooklyn Center.
The City provides a full range of municipal services including
public safety (police and fire), streets, sanitation, social
services, culture-recreation, public improvements, planning and
zoning, and general administrative services. The City also
operates three off-sale liquor stores, a public water and sewer
utility, a golf course, and a convention center known as the Earle
Brown Heritage Center.
ECONOMIC CONDITION AND OUTLOOK
The City of Brooklyn Center is a northern suburb of the
Minneapolis/St. Paul metropolitan area, lying adjacent to the City
of Minneapolis: The City is wholly within Hennepin County and
encompasses an area of approximately 8.5 square miles. The
Mississippi River forms the City's �astern boundary.
The City experienced its most rapid growth from 1950 to 1970 when
the.City's population grew from 4,300 to its peak of 35,173. The
1990 Census count for the City is 28,887, a 7.5% decline from the
1980 Census. The 1994 population, as estimated by the Metropolitan
Council, is 28,484. In contrast to the decline in population
(which is due almost entirely to fewer persons per household), the
number of housing units has generally continued to increase from
10,493 in 1970 to 11,035 in 1980 and 11,704 in 1990. The numbers
dropped slightly in 1994 to 11,467 housing units. This was due to
the removal of some units by the City in accordance with a
preplanned redevelopment effort.
Major transportation routes in and through the City, including
Interstate 94 and 694, and State Highways 100 and 252, have
provided a continued impetus for development of a strong commercial
tax base in the City.
Commercial and industrial property comprises 57.4% of the City's
taxable net ta� capacity. There are five major shopping centers
located in the City in addition to a large number of retail
establishments including K-Mart, Kohl's Department Store, Toys R
Us, Jerry's New Market and Builders Square. The largest commercial
property in the City is Brookdale Mall, a 1,000,000 square-foot
regional shopping center anchored by Daytons, Sears, Penny's and
Mervyn's of California. Brookdale Square, a 125,000 square-foot
strip center plus an 8-screen theater is occupied by Circuit City,
Drug Emporium and Office Depot. The remaining three major retail
shopping centers include Shingle Creek Center, a 157,000 square-
foot three building center anchored by Target; Westbrook Mall, an
88,000 square-foot center anchored by Dayton's Home Store; and
Brookview Plaza, a 70,000 square-foot center anchored by Best Buy.
-5-
In 1994, Evergreen Homes, a senior citizens development of 90 units
with an estimated construction cost of $2,500,000 was completed.
In addition, Brookdale Mall completed a$500,000 renovation project
in 1994.
Building activity in 1995 included the construction of the 60-unit
Comfort Inn Hotel (28,000 square-feet) and Fuddruckers Restaurant
(10,000 square-feet). In Brookdale Mall, Mervyn's of California
renovated the former Carson Pirie Scott store at an estimated cost
of $4,000,000.
MAJOR EVENTS OF 1995
The City public works garage completed an extensive remodeling
project in 1995 at a cost of $1.7 million. The garage houses the
City's street, park, vehicle maintenance and public utilities
operations. Funding for the project is from the Capital
Improvements, Water and Sewer funds.
Other projects in 1995 include a park and ride facility on the
corner of I-694 and Brooklyn Boulevard completed in cooperation
with Metropolitan Council Transit Operations.
The City is in the process of completing several compr.ehensive
street and utility improvements for the City. These improvements
were funded by general obligation bonds sold during 1994 �and 1995
and include the Special Assessments Construction Fund and Storm
Drainage Fund.
FINANCIAL INFORMATION
Management of the City is responsible for establishing and
maintaining an internal control structure designed to ensure that
the assets of the City are protected from loss, theft or misuse and
to ensure that adequate accounting data are compiled to allow for
the preparation of financial statements in conformity with
generally accepted accounting principles. The internal control
structure is designed to provide reasonable, but not absolute,
assurance that these objectives are met. The concept of reasonable
assurance recognizes that: (1) the cost of a control should not
exceed the benefits likely to be derived; and (2) the valuation of
costs and benefits requires estimates and judgments by management.
In addition, the City maintains budgetary controls. The objective
of these budgetary controls is to ensure compliance with legal
provisions embodied in the annual budget appropriation approved by
the City's governing body. Activities of the general fund, special
revenue funds and certain capital projects funds are included in
the annual appropriated budget. Project-length financial plans are
adopted for the remaining capital projects funds. The level of
budgetary control (that is, the level at which expenditures cannot
legally exceed the appropriated amount) is established by
-6-
department for the General Fund and at the aggregate fund level for
all other governmental funds that adopt annual budgets.
Appropriations lapse at year end and generally are not
reappropriated as part of the following year's budget.
As demonstrated by the statements and schedules included in the
financial section of this report, the City continues to meet its
responsibility for sound financial management.
GENERAL FUND
The following schedule presents a summary of general fund budgeted
revenues for 1996, and actual revenues for the fiscal year ended
December 31, 1995, compared to 1994.
General Fund Revenues Other Financina Sources 1995
Increase
1996 1995 1994 -Decrease
BUDGET ACTUAL ACTUAL From 1994
Taxes $6,355,958 $5,946,363 $5,703,773 242,590
License permits 348,850 318,202 317,620 582
Intergovernmental
revenue 3,540,018 3,543,009 3,443,247 99,762
Charges for
services 886,068 822,530 825,959 -3,429
Court fines 144,000 178,263 113,573 64,690
Misc. revenues 258,000 271,509 241,570 29,939
Other financing
sources 100,000 100,000 100,000
TOTAL $11,632,894 $11,179,876 $10,745,742
Revenues and other financin sources for the General Fund totaled
5
$11,179,876 in 1995, an increase of $434,134 from the previous
year. From the table above, it is apparent that the major sources
of revenue available for funding of general governmental functions
are taxes and intergovernmental revenue, which when combined,
provide 85% of the total revenues. The principal sources of
intergovernmental aid to the City are homestead and agricultural
credit aid of $1,336,593 and local government aid of $1,799,076.
The following schedule presents a summary of general fund budgeted
expenditures for 1996, and actual expenditures for the fiscal year
ended December 31, 1995, compared to 1994.
7
General Fund Expenditures 1995
Increase
1996 1995 1994 -Decrease
__BUDGET_ ___ACTUAL ACTUAL From 1994
General Govt $1,825,246 $1,831,045 $1,692,268 138,777
Public Safety 5,049,179 4,598,618 4,409,490 189,128
Public Works 1,545,021 1,363,244 1,230,565 132,679
Community Serv 78,547 41,146 41,495 -349
Parks Recr 2,450,915 2,226,121 2,055,479 170,642
Economic
Development 228,000 209,576 199,982 9,594
Non-departmental 455,986 289,747 312,7'79 -23,032
TOTAL $11,632,894 $10,559,497 $9,942,058 $617,439
1 Ex enditures for the General Fund totaled $10,559,497 in 1995, an
P
overall increase of 6.2% when compared to 1994. The increase is
reflective of the 3.0% wage increase granted to all employees
except for Police Union personnel who received 3.2o in 1995.
General government expenditures increased primarily due to the
costs associated with the city manager recruitment. Increased
expenditures in the public safety area were due primarily to the
addition of new police personnel approved in the 1995 budget.
GENERAL FUND BALANCE
The fund balance increased by $620,379 or 11.9% in 1995. The ending
fund balance of $5,834,792 is the equivalent of six months of
expenditures for the 1996 budget. Property taxes and inter-
governmental revenue represent 85% of the budgeted general fund
revenue for 1996. The State of Minnesota has structured city
finances so most of these revenues are received in the second half
of the fiscal year. Minnesota cities typically receive as little
as 10% of their total revenues in the first six months of the year.
In recognition of this fact, a portion of the fund balance is being
designated for working capital.
ENTERPRISE OPERATIONS
The City's enterprise operations are comprised of seven separate
and distinctive activities: Liquor stores, Golf Course, Earle
Brown Heritage Center, Recycling, Water utility, Sanitary Sewer
utility, and Storm Drainage utility.
The liquor operation is composed of three retail stores. Two
stores are owned and one is leased.
Centerbrook Golf Course began operating in 1988 and recorded
operating profits from 1990 through 1993. Profitability is
-8-
expected to return in 1996. Green fees have been increasing each
year to keep pace with inflation.
The Earle Brown Heritage Center is a pioneer farmstead which has
been historically preserved and restored as a modern multipurpose
facility. Its convention center can host conferences, trade shows,
and concerts seating 1,OOo people in either banquet or theater
style. The Inn on the Farm is a bed and breakfast with ten rooms
available. Earle's, a unique special occasion restaurant, is also
located at the Inn on the Farm. Several of the barns have been
restored as unique office settings which have found a niche in the
market. The City's policy for this enterprise is to set fees and
user charges at a level which allows the operations to break-even
excluding depreciation on contributed assets.
The dwindling supply of landfill space for the disposal of garbage
has become a major concern in Minnesota. State and county mandated
goals for the diversion of garbage to recycling programs took
effect in 1989. In response, the City opened a Recycling and
Refuse Fund as an enterprise fund. So far it is operating a
recycling program. Expansion into garbage collection will take
place when there is clear advantage to be achieved by it. Goals
for the recycling program are being met.
The Water and Sanitary Sewer utilities are largely developed and
already reach all parts of the City. Rates for both water and
sanitary sewer are reviewed annually and increased as needed to
cover inflation and the need for new capital outlays. Three-
fourths of the sewer operating expenses are fees paid to the
Metropolitan Council Environmental Services for sewage treatment.
Planned rate increases should be sufficient to keep them both
profitable.
During the 1980s, the State of Minnesota passed legislation that
requires cities to take greater responsibility for controlling
storm water runoff. In response to this, the City created a Storm
Drainage Utility Fund. Its fee structure is based upon the amount
of water discharged into the storm sewer system.
INTERNAL SERVICE FUNDS
The Central Garage Fund was established to own and maintain all
operating equipment of the City. At present, the fund maintains
some 160 pieces of rolling and non-rolling stock equipment with a
net book value of $1,984,748. Equipment maintenance, repair, fuel,
and replacement costs are provided from rental rates which the
Central Garage Fund charges City operating departments for the use
of the equipment.
The Public Employees Retirement Fund was established to provide
certain health care benefits for City employees who retire before
age 65. In 1995, the liability estimate was refined to reflect
changes to the status of the program. As a result, the liability
_9_
increased $781,205 leaving a fund balance of $91,578 at December
31, 1995.
AGENCY FUND
The Deferred Compensation Agency Fund accounts for the I.C.M.A.
Retirement Corporation plan with a market share value totaling
$3,174,761 for City employee plan members at year end.
DEBT ADMINISTRATION
At December 31, 1995, the City had nine debt issues outstanding.
These issues include $2,455,000 of general obligation state aid
street bonds, $1,705,000 of special assessment debt with government
commitment, $1,830,000 of general obliqation revenue bonds and
$18,055,000 of general obligation tax increment bonds. The City
maintained its A-1 rating from Moody's Investors Service.
The City issued $780,000 of special assessment bonds in 1995 to
provide construction proceeds for various improvement projects in
the City. The City also issued $4,560,000 in general obligation
tax increment bonds to finance various redevelopment projects
within the City.
CASH MANAGEMENT
The Finance Department keeps abreast of current trends, and
procedures for cash management and forecasting so as to ensure
efficient and profitable use of the City's cash resources. Cash is
invested only in investments authorized by Minnesota Statutes
Chapter 475. The yield on investments ranged from a high of 8.2
percent to a low of 4.3 percent. Interest earned during 1995
amounted to $2,071,364 compared to $1,857,203 during 1994. The
City adopted a written investment policy in 1990. The policy's
objectives are to minimize credit and market risk, provide needed
liquidity, and maintain a competitive yield on the portfolio.
All deposits were either insured by federal depository insurance or
collateralized. Investment securities are held in a custody
arrangement with a bank trust department. All investments are
listed in the lowest credit risk category, Category 1. Cash
balances for all funds of the City are maintained on a combined
basis and invested, to the extent possible, in short-term
securities. Earnings from securities are allocated to the various
funds in proportion to their relative cash book balances. In the
recent past, the City has not needed to use any short-term debt and
does not anticipate such a need in the future.
The City has not purchased any collateralized mortgage obligations,
derivatives, or interest only strip investments. Our practice is
to hold invesents to maturity. The only reason to sell prior to
10
maturity is an unforeseen cash flow need. In the past three years,
there has been only one occasion where an investment was sold prior
to maturity. Of the City's portfolio as of December 31, 1995, 33%
matures within 1 year, another 21% in the second year, 26% in the
third year, 7% in the fourth year, and the last 13% in the fifth
through the eighth years.
RISK MANAGEMENT
The City insures all significant risk. A schedule of such
insurance is included in the Statistical Section.
INDEPENDENT AUDIT
The City Charter and State Statutes require the Council to provide
for an audit of the financial transactions of the City. Deloitte
Touche LLP has been retained for that purpose and their
unqualified opinion has been included in this report.
CERTIFICATE OF ACHIEVEMENT
The Government Finance Officers Association of the United States
and Canada (GFOA) awarded a Certificate of Achievement for
Excellence in Financial Reporting to the City of Brooklyn Center
for its comprehensive annual financial report for the fiscal year
ended December 31, 1994.
In order to be awarded a Certificate of Achievement for Excellence
in Financial Reporting, a governmental unit must publish an easily
readable and efficiently organized comprehensive annual financial
report, whose contents conform to program standards. Such reports
must satisfy both generally accepted accounting principles and
applicable legal requirements.
A Certificate of Achievement is valid for a period of one year
only. We believe our current report continues to conform to
Certificate of Achievement Program requirements, and we are
submitting it to GFOA to determine its eligibility for another
certificate.
11
ACKNOWLEDGEMENTS
We want to express our appreciation to the Finance Department staff
for the assistance provided during the audit. We also wish to
express our appreciation to the City Manager and the Mayor and
members of the City Council for their continued interest and
support in planning and conducting the financial operations of the
City in a responsible and progressive manner.
Respectfully submitted,
R,��
Charles R. Hansen
Directc�r of Finance
Timothy R. Johnson
Assistant Director of Finance
1
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Certi lcate o
Achlevement
or Exce��ence
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Ae�ortin
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Prese ed o
Cit of Brook�yn Center,
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Mlnnesota
For its Comprehensive Annual
1
Financial Aeport
f or the Fiscal Year Ended
December 31, 1994
A Certificate of Achievement for Excellence in Financial
Reporting is presented by the Government Finance Officers
Association of the United States and Canada to
government units and public employee retirement
systems whose comprehensive annual financial
reports (CAFRs) achieve the highest
standards in government accounting
and financial reporting.
�NCE OF,c�"j
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f UNITED STATES t y r
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President
d i CORPORATION �a s
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1 CNICAG��
Executive Director
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De oitte
Touche «P
400 One Financial Plaza Telephone: (612) 397-4000
120 South Sixth Street Facsimile: (612) 397-4450
Minneapolis, Minnesota 55402-1844
INDEPENDENT AUDITORS' REPORT
The Honorable Mayor and Members
of the City Council of the
City of Brooklyn Center, Minnesota
We have audited the accompanying general purpose financial statements of the City of Brooklyn Center,
Minnesota (the City) as of December 31, 1995 and for the year then ended, listed in Section IIA of the
foregoing Table of Contents. These general purpose financial statements are the responsibility of the
City's management. Our responsibility is to express an opinion on these general purpose financial
statements based on our audit.
We conducted our audit in accordance with generally accepted auditing standards and Government
Auditing Standards, issued by the Comptroller General of the United States. Those standards require that
we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial
statements are free of material misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the general purpose financial statements. An audit also
includes assessing the accounting principles used and significant estimates made by management, as well
as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable
basis for our opinion.
In our opinion, such general purpose financial statements present fairly, in all material respects, the
financial position of the City of Brooklyn Center, Minnesota at December 31, 1995 and the results of its
operations and cash flows of its proprietary fund types for the year then ended in conformity with
generally accepted accounting principles.
Our audit was conducted for the purpose of forming an opinion on the general purpose financial
statements taken as a whole. The accompanying combining and individual fund and account group
financial statements and schedules listed in the foregoing Table of Contents, which are also the
responsibility of the City's management, are presented for purposes of additional analysis and are not a
required paR of the general purpose financial statements of the City. Such financial statements and
schedules have been subjected to the auditing procedures applied in our audit of the general purpose
financial statements and, in our opinion, are fairly stated in all material respects when considered in
relation to the general purpose financial statements taken as a whole.
In accordance with Government Auditing Standards, we have also issued a report dated April 15, 1996 on
our consideration of the City of Brooklyn Center's internal control structure and a report dated April 15,
1996 on its compliance with laws and regulations.
GG�
April 15, 1996
DeloitteTouche
Tohmatsu
International
i
City of Brooklyn Center, Minnesota
GENERAL PURPOSE FINANCIAL STATEMENTS
The general purpose financial statements are intended to provide a
financial overview of municipal operations. These reports are at
a summary level and include that data needed to control and analyze
current operations to determine compliance with legal and budgetary
limitations and to assist in the financial planning process.
15
City of Brooklyn Center EXHIBIT
All Fund Types and Account Groups
COMBINED BALANCE SHEET (Continued next page)
December 31, '1995
Fiduciary Totals
Governmental Fund Types Proprietary Fund Types Fund Types Account Groups (Memorandum Only)
General Generel
Special Debt Capital Intemal Fixed Long-Term December 3�,
General Revenue Service Projects Enterprise Service Agency Assets Debt 1995 1994
ASSETS AND OTHER DEBITS
Cash and cash equivalents (Note 2) $615,176 $5,411 5450,390 $1,116,024 $1,037,573 5433,818 53,658,392 $2,336,919
Investments (Note 2) 5,660,356 50,571 1,579,090 10,430,686 8,333,420 4,054,588 30,108,711 24,780,499
Receivables:
Accounts 41,955 364 30,984 1,166,134 13,569 1,253,006 1,365,679
Delinquent taxes (Note 1L) 282,251 936 12,158 295,345 247,644
Special assessmenis:
O� Deferred 12,691 465,750 905,638 131,422 1,5�5,501 1,546,406
i Delinquent 654 7,757 57,978 3,148 69,537 58,838
Due trom other funds (Note 8) 862,831 240,707 1,887,677 2,991,215 3,224,156
Due from other govemments 18,399 236,106 1,465,341 611,594 2,331,440 2,996,512
Inventories and supplies (Note 1H) 356,589 10,045 366,634 346,449
Prepaid expenses 143,211 143,211 143,157
Advances to other funds (Note 8) 105,074 1,890,741 1,995,815 2,007,127
Restricted investments (Note 11) 4,180,920 1,000,000 5,180,920 5,182,719
Restricted receivables 473,344
Investments for deterred compensation
plan at market (Note 12) 53,174,761 3,174,761 2,635,726
PropeRy, plant and equipment (Note 3) 39,081,292 4,190,101 514,085,155 57,356,548 53,093,491
less accumulated depreciation (8,861,698) (2,205,353
���,os�,os�� ��o,�as,sao)
Amount available m Debt Service Funds 56,451,107 6,451,�07 5,688,104
Amount to be provided for General �ong-
Term Debt 15,763,893 t5,763,893 12,011,896
Total Assets and Other Debits 57,586,042 $305,797 56,925,550 518,797,227 �42,002,685 56,496,768 53,174,761 514,085,155 522,215,000 $121,588,985 5107,952,286
(See notes to financial statements)
i i i
City o( Brooklyn Center Exhibi[ 1
All Fund Types and Account Groups
COMBWED BALANCE SHEET (ConGnued from prior page)
December 31, 1995
Fiduciary ToWls
Governmental Fund Types Proprietary Fund Types Fund Types Account Groups Memorandum Only
General General
Special Debt Capital Internal Fixed Long-Term December37,
LIABILITIES, EQUITY AND OTHER CREDITS General Revenue Service Projeds Enterprise Service Agency Assets Debt 1995 1994 i
Liabilities
Accounts payable $245,582 51,373 58,866 5277,528 5103,362 5636,711 5757,202
Cootracts payable 3A7,132 952,564 �,Zgg,ggg �27,qgg
Due to other govemments 17,785 17,785 1<2,105
Due to other funds (Note 8) 1.344.983 1,050,477 595,755 2,991,215 3,224,156
Accrued salaries and wages 134,652 4,140 37,763 3,837 180,392 150,373
Accrued vacation 8 sick pay (Note 1J) 563.171 21,970 52,459 23J25 661,325 614,893
Accmed healthlnsurance 987,081 987,081 205,8)6
Accrued �nterest payable 37,760
37,760 37,760
Advances irom other funds (Note 8) 698,143 1297,672 1,995,815 2,007,127
Oeferred revenue 790,060 13,345 5474,443 2,432,115 3,709,963 3,835,336
Liabilities payable Irom restricted assets 54J10
State aid street bonds payable (Note 5) 52,455,000 2,455,000 2 805 000
Special assessment debt with govemment
commitment (Note 5) 1,705,000 1,705,000 1,010,000 I
Taxincrement bonds payable(Note 5) 18,055,000 18,055,000 1C,085,000
Revenue bonds payable (Note S) 1,830,000 �,g3p,ppp �,g3p,ppp
De(erred compensation lunds held tor
F'' participants (Note 12)
v 83,174,767 3,174,761 2,635,726
TotalLiabilities 1,751,250 2,057,844 474,443 3,864,700 5087,501 7,178,005 3,174,761 22,215,000 39,737,504 33,322,749
EawN and Other Credits
CoMributed capital (No[e 6) 20,997,801 3,858,406 24,856,207 25.302,075
Investment in general tixed assets 514.085,155 14,085,155 12,985,809
Retained eammgs:
Reserved
Debt Service 198.3�5 198,375 90,625
Special assessments 134,570 134.570 65,476
Unreserved 15.590.498 1,520,357 17,110,855 75,837,009
Fund Balances (Deficits).
Reserved:
Debtservice 6.451,107 6,451,107 5.688,104
Bond proceeds 3.477,619 3,477,619
Dedicated housi�g account (Nole �1) 1,000,0� ppp ppp ppp ppp
Advances to other funds 105,074 1,890,741 1,995,815 2,007,127
Unexpended appropriations 223,951
Unreserved
Designated
Working capilal 5,276,757 5,276,757 5,052,687
I UneMpe�ded appropnations 109,750 109,750 56,652
Undesignated 343,211 (1,752,047) 8,584,167 7155331
6.320.082
Total Equity and Other Credrts 5,834,792 (1,752,047) 6,451,107 14,932,527 36,921,184 5,378,763 14,085,155 81,851,481 74,629,537
Total LiabdiUes. Equity 8 Other Credrts 57,586,042 5305,797 56,925,550 518,797,227 542,002,685 56,496,768 53,174,767 514,085,155 522,215,000 5121,588,985 5107,952,286
(See notes to financial statements)
City of Brooklyn Center EXHIBIT�
All Governmental Fund Types
COMBINED STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES (DEFICITS)
For fhe Year Ended December 31, 1995
Totals
Special Oebt Capital Memorandum Only
Revenues General Revenue Service Projecis 1995 199q
Taxes and special assessments $5,946,363 $1,766,376 $351,890 $653,623 $8,718,252 $8,053,17�
Licenses and permits 318,202 318,202 317,62
intergovernmental 3,543,009 264,641 i,342,397 5.150,047 4,350,181
Charges tor services 822,530 6,264 828,794 844,37
Court fines 178,263 178,263 113,57'
Investment earnings 256,304 3,114 253,540 702,273 1,215,231 1,177,27
Miscellaneous 15,205 16,820 32,025 50,730
Total Revenues 11,079,876 2,040,395 605,430 2,715,113 16,440,814 14,906,92�
Exoenditures
Currenr
General government 1,831,045 1,831,045 1,692,26
Public safety 4,598,618 4,598,618 4,409.490
Public works 1,363,244 1,363,244 1,230,565
Community services 41,146 41,146 41,49�
Parks and recreation 2,226,121 14,386 2,240,507 2,074,63
Economic development 209,576 44,025 522,931 776,532 1,001,991
Non-departmental 289,747 289,747 312,77
Capiial outlay 3,493,127 3,493,127 1,732,86�
Debt service:
Principal retirement 825,000 825,000 780,000
Interest and fiscal charges 78,277 1,077,985 92,563 1,248,825 1,272,97
Total Expenditures 10,559,497 136,688 1,902,985 4,108,621 16,707,791 14,549,06�
Excess or Deficiency(-) of Revenues Over Expenditures 520,379 1,903,707 (1,297,555) (1,393,508) (266,977) 357,85�
Other Financina Sources or Uses(-1
Proceeds from sale of bonds 468,833 4,815,920 5,284,753 828,513
Operating transfers in 100,000 t,591,725 408,736 2,100,461 2,673,99
Operating transfers out (1,549,641) (450,820) (2,000,461) (2,698,83
Totai Other Financing Sources or Uses(-) 100,OOQ (1,549,641) 2,060,558 4,773,836 5,384,753 803,67�
Excess or Deficiency(-) o( Revenues and Other
Sources Over Expenditures and Other Uses 620,379 354,D66 763,003 3,380,328 5,117,776 1,161,527
Fund Balances (Deficits) January 1 5.214,413 (2,106,113) 5,638,104 11,552.199 20,348,603 19,845,15�
Equity Transfers Ouf (658,078)
Fund Balances (Oeficits) Oecember 31 $5,$34,792 ($i,752,047) $6,451,107 $14,932,527 $25,466,379 $20,348,60�
(See notes to financial statements)
18
EXHIBIT 3
City o( Brooklyn Center
General, Special Revenue and Annually Budgeled Capital Projects Funds
COMBINED STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL
For Ihe Year Ended December 31, 1995
An�ually Budgeted
General Fund Special Revenue Funds Capitai Projects Funds
Actual Over Actual Over Aclual Over
Under( Under( Under(
Budget Actual Budgel Budget Actual Budget Budget Ac�ual Budget
Revenues
Taxes and special assessmenls $6,398,165 $5,946,363 �($451,802)� $1,408,724 $1,766,376 $357,652 $291,527 $290,151 ($1,376)
Licenses and permits 296,400 318,202 21,802
Intergovernmental 3,489,876 3,543,009 53,133 253,334 264,641 11,307 18,304 18,304
Charycs (or services 897,732 822,530 (75,202) 12,000 6,264 (5,736)
Court fines 112,000 178,263 66,263
Inveslment earnings 186,000 256,304 70,3U4 1,000 3,114 2,114 62,500 142,218 79,718
Miscellaneous 14,000 15,205 1,205 23,500 12,845 (10,655)
Tolal Revenues 11,394,173 11,079,876 (314,29� 1,675,058 2,040,395 365,337 395,831 463,518 67,687
Exoenditures
General government 1,966,016 1,831,045 (134,971)
Public safety 4,862,748 4,598,618 (264,130)
Publicworks 1,560,386 1,363,244 (197,142)
r-+ Commu�ityservices 41,146 41,146
Parks and recreation 2,401,651 2,226,121 (175,530) 30,000 14,386 (15,614)
Economic developmenl 209,625 209,576 (49) 42,824 44,025 1,201 4,694,445 1,023,194 (3,671,251)
Non-departmental 405,351 289,747 (115,604) �I
interest and fiscal charges 98,000 78,277 (19,723)
Tolal Expendilures 11,446,923 10,559,497 (887,426) 170,824 136,688 (34,136) 4,694,445 1,023,194 (3,671,251)
Excess or Deficiency(-) of Revenues
Over Expenditures (52,750) 520,379 573,129 1,504,234 1,903,707 399,473 (4,298,614) (559,676) 3,738,938
i
Other Financina Sources or Uses/-1 I
Sale of bonds 4,045,280 4,045,280
Operating transfers in 100,000 100,000 390,308 401,379 11,071
Operating transfers out (1,538,334) (1,549,641} (11,30� (136,974) (136,738) 236
Total Other Financing Sources or Uses(-) 100,000 100,000 0 (1,538,334) (1,549,641) (11,30� 4,298,614 4,309,927 11,307
Excess or Deficiency(-) of Revenues and Other
Sources Over Expenditures and Other Uses 47,250 620,379 573,129 (34,100) 354,066 388,166 0 3,750,245 3,750,245
Fund Balances (Deficits) January 1 5,214,413 5,214,413 (2,106,113) (2,106,113) 2,216,176 2,216,176
Fund Balances (Deficits) December 31 55,261,663 a5,834,792 $573,129 ($2,140,213) ($1,752,04� 5388,166 52,21fi,176 s5,966,421 53,750,245
(See notes to ftnancial statemeMs
City of Brooklyn Center EXHIBIT 4
Proprietary Fund Types
COMBINED STATEMENT OF REVENUES, EXPENSES, AND CHANGES
IN RETAINED EARNINGS
For the Year Ended December 31, 1995
Internal Totals
Enterprise Service (Memorandum Only)
O�eratinq Revenues Funds Funds 1995 1994
Sales and userfees $9,715,806 $1,197,750 $10,913,556 $10,279,208
Cost of sales 2,421,192 2,421,192 2,413,423
Net Operating Revenues 7,294,614 1,197,750 8,492,364 7,865,785
Ooeratina Ex�enses
Personal services 2,416,138 997,787 3,413,925 2,523,883
Supplies 285,394 204,439 489,833 462,039
Other services 2,626,706 51,702 2,678,408 2,469,419
Insurance 79,363 27,067 106,430 123,104
Utilities 344,069 344,069 343,677
Rent 86,718 86,718 69,858
Depreciation 744,394 353,413 1,097,807 1,039,710
Total Operating Expenses 6,582,782 1,634,408 8,217,190 7,031,690
Operating Income (Loss) 711,832 (436,658) 275,174 834,095
Nononeratina Revenues or Exnenses (-1
Investment earnings 609,594 246,539 856,133 679,933
Special assessments (for service
hookups and delinquencies) 14,194 14,194 16,776
Other revenue 7,584 7,584 2,652
Loss on disposal of fixed assets (2,375) (2,375) (13,999)
Interest and fiscal agent fees (192,851) (192,851) (123,465)
Total Net Nonoperating 436,146 246,539 682,685 561,897
Income (Loss) Before Operating Transfers 1,147,978 (190,119) 957,859 1,395,992
Operating Transfers In 124,842
Operating Transfers Out (10Q,000) (100,000) (100,000)
Net Income (Loss) 1,047,978 (190,119) 857,859 1,420,834
Depreciation on contributed assets that
reduces contributed capital 336,822 255,949 592,771 613,790
Retained Earnings January 1 14,538,583 1,454,527 15,993,110 14,522,265
Equity Transfer from Contributed Capital 55,320
Equity Transfer In (Out) (619,099)
Retained Earnings December 31 $15,923,383 51,520,357 $17,443,740 $15,993,110
(See notes to financial statements)
-20-
City of Brooktyn Center EXHIBIT 5
Proprietary Fund Types
COMBINED STATEMENT OF CASH FLOWS
For the Year Ended December 31, 1995
Internal Totals
Enterprise Service (Memorandum Only)
Cash flows from o�eratino activities: Funds Funds 1995 1994
Operating income (loss) $711,832 ($436,658) $275,174 $832,136
Adjustments to reconcile operating income (loss) to
net cash provided by operating actviUes:
Depreciation 744,394 353,413 1,097,807 1,039,710
Changes in assets and liabilities:
Receivables 537,351 (10,542) 526,809 (1,182,064)
Inventories (28,014) 7,829 (20,185) (26,659)
Prepaid expenses (54) (54) 10,185
Payables 791,755 87,611 879,366 49,876
Accrued expenses 9,502 2,898 12,400 16,251
Accrued interest payable 37,760
Accrued health insurance liability 781,205 781,205 (10,668)
Other nonoperating income 21,778 21,778 18,929
Net cash provided by operating activities 2,788,544 785,756 3,574,300 785,456
Cash flows from nonca�ital financino activities:
Proceeds from borrowings on advance from other funds 11,500 11,500 153,726
Proceeds from borrowings on due to other funds 206,550 206,550
Principal payments on advance from other funds (22,813) (22,813) (20,960)
Interest paid on advance from other funds (70,273) (70,273)
Interest paid on due to other funds (31,653) (31,653) (93,257)
Equity transfer to Central Garage Fund (402,911)
Operating transfers in 124,842
Operating transfers out (100,000) (100,000) (100,000)
Net cash provided by (used for) noncapital financing activities (6,689) (6,689) (338,560)
Cash flows from caoital and related financina activities:
Proceeds from bond sale 1,830,000
Capitai contributions 146,963 146,963 1,060,989
Acquisition and construction of capital assets (2,998,831) (384,390) (3,383,221) (2,733,962)
Interestpaid on revenue bonds (90,925) (90,925) (30,208)
Net cash provided by (used for) capital and related
financing activities (2,942,793) (384,390) (3,327,183) 126,819
Cash flows from investino activities:
Investments purchased (6,526,420) (3,511,005) (10,037,425) (3,594,112)
Investments sold or matured 6,205,733 3,019,373 9,225,106 2
Interest on investments 609,594 246,539 856,133 679,933
Net cash provided by (used for) investing activities 288,907 (245,093) 43,814 (230,855)
Net increase in cash and cash equivalents 127,969 156,273 284,242 342,860
Cash and cash equivalents at beginning of year 909,604 277,545 1,187,149 844,289
Cash and cash equivalents at end of year $1,037,573 $433,818 $1,471,391 $1,187,149
NONCASH FINANCING, CAPITAL, AND INVESTING ACTIVITIES
Gain (loss) on disposal of fixed assets ($2,375) ($2,375) ($656)
Gain (loss) resulting from transfer of fixed assets
to the Central Garage Fund ($10,885)
Contribution of fixed assets from other funds $216,188
Fixed Assets transferred to other funds $240,349
(See notes to financial statements)
21
Citv of Brooklvn Center
NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 1995
Note 1: Summarv of Sianificant Accountinct Policies
The City of Brooklyn Center, Minnesota (City) was formed and
operated pursuant to applicable Minnesota laws and statutes.
The governing body consists of a five-member City Council
elected at large to serve four-year staggered terms.
A. Reportina Entitv
The City includes all funds, organizations, institutions,
agencies, departments and offices that are not legally
separate from such. Component units are legally separate
organizations for which the elected officials of the City are
financially accountable and are included within the general
purpose financial statements of the City because of the
significance of their operational or financial relationships
with the City.
BLENDED COMPONENT UNITS:
Blended component units, although legally separate entities,
are, in substance, part of the government's operations and so
data from these units are combined with data of the primary
government.
Economic Development Authority (EDA) and Housing and
Redevelopment Authority (HRA) in and for the City of Brooklyn
Center:
The governing boards are the City Council. The Council
reviews and approves EDA and HRA tax levies, and the City
provides major community development financing for EDA and HRA
activities. Debts issued for EDA and HRA activities are City
general obligations. Although the EDA and HRA are legally
separate from the City, they are reported as if they were part
of the City because their sole purpose is carry out certain
redevelopment projects for the City. Complete financial
statements for the EDA and HRA may be obtained at the City
offices located at 6301 Shingle Creek Parkway, Brooklyn
Center, Minnesota 55430.
RELATED ORG.ANIZATIONS:
The Brooklyn Center Fire Department Relief Association
(Association):
The Association is organized as a nonprofit organization,
legally separate from the City, by its members to provide
-22-
Note 1: Summarv of Sianificant Accountina Policies (continued)
A. Reportina Entitv (continued)
pension and other benefits to such members in accordance with
Minnesota Statutes. Its board of directors is appointed by
the membership of the Association and not by the City Council
and the Association issues their own set of financial
statements. All funding is conducted in accordance with
applicable Minnesota Statutes, whereby state aids flow to the
Association, tax levies are determined by the Association, and
are only reviewed by the City and the Association pays
benefits directly to its members. The Association may certify
tax levies to Hennepin County directly if the City does not
carry out this function. Because the Association is fiscally
independent of the City, the financial statements of the
Association have not been included within the City's reporting
entity. (See Note 15 for disclosures relating to the pension
plan operated by the Association.) The City's portion of the
costs of the Association's pension benefits are included in
the General Fund under public safety.
JOINT VENTURES AND JOINTLY GOVERNED ORGANIZATIONS:
The City has several agreements with governmental and other
entities which provide reduced costs, better service, and
additional benefits to the� participants. These programs,
which the City participates in, are listed below and amounts
recorded within the current year financial statements are
disclosed.
Local Government Information Systems Association (Logis):
This consortium of approximately 20 government entities
provides computerized data processing and support services to
its members. Logis is legally separate; the City does not
appoint a voting majority of the Board, and; the Consortium is
fiscally independent of the City. The total amount recorded
within the 1995 financial statements of the City was $238,178
for services provided which is allocated to the various funds
based on applications. Complete financial statements may be
obtained at the LOGIS offices located at 2700 Freeway
Boulevard, Suite 300, Brooklyn Center, Minnesota 55430.
Logis Insurance Group:
This group provides cooperative purchasing of health and life
insurance benefits for approximately 45 government entities.
The total amount recorded within the 1995 financial statements
of the City was $414,933 for services provided.
-23-
Note 1: Summarv of Sianificant Accountincr Policies (continued)
B. Fund Accountinq
The accounts of the City are organized on the basis of funds
and account groups, each of which is considered a separate
accounting entity. The operations of each fund are accounted
for with a separate set of self-balancing accounts that
comprise its assets, liabilities, fund equity, revenues, and
expenditures, or expenses, as appropriate. Government
resources are allocated to and accounted for in individual
funds based upon the purposes for which they are to be spent
and the means by which spending activities are controlled.
The various funds are grouped, in the financial statements in
this report, into seven generic fund types and three broad
fund categories as follows:
GOVERNMENTAL FUNDS:
General Fund The General Fund is the general operating fund
of the City. It is used to account for all financial
resources except those required to be accounted for in another
fund.
Special Revenue Funds Specia� Revenue Funds are used to
account for the proceeds of certain� specific revenue sources
that are legally restricted to. expenditures for specified
purposes.
Debt Service Funds Debt Serviee Funds are used to account
for the accumulation of resources for, and the payment of,
general long-term debt principal, interest and related costs.
Capital Projects Funds Capital Projects Funds are used to
account for financial resources to be used for the acquisition
or construction of major capital facilities, other than those
financed by proprietary funds.
PROPRIETARY FUNDS:
Enterprise Funds Enterprise Funds are used to account for
operations that are financed and operated in a manner similar
to private business enterprises where the intent is that the.
costs (expenses, including depreciation) of providing goods or
services to the general public on a continuing basis be
financed or recovered primarily through user charges.
Internal Service Funds Internal Service Funds are used to
account for the financing of goods or services provided by one
department to other departments of the City on a cost
reimbursement basis.
-24-
Note 1: Summarv of Sianificant Accountina Policies (continued)
B. Fund Accountina (continued)
FIDUCIARY FUNDS:
Agency Funds Agency Funds are used to account for assets
held by the City as an agent for others.
C. Fixed Assets and Lona-Term Liabilities
The accounting and reporting of fixed assets and long-term
liabilities associated with a fund are determined by its
measurement focus. All governmental funds are accounted for
on a spending or "financial flow" measurement, which means
that only current assets and current liabilities are generally
included on their balance sheets. Their reported fund balance
is considered a measure of "available spendable resources."
Governmental fund operating statements present increases
(revenues and other financing sources) and decreases
(expenditures and other financing uses) in net current assets.
Accordingly, they are said to present a summary of sources and
uses of "available spendable resources" during a period.
Fixed assets used in governmental fund type operations are
accounted for in the General Fixed Assets Account Group,
rather than in the governmental funds. Public domain general
fixed assets consisting of certain improvements other than
buildings, including roads, curbs and gutters, streets and
sidewalks, drainage systems, and lighting systems have been
excluded from general fixed assets, as such items are
immovable and of value only to the City. No depreciation has
been provided on general fixed assets.
All fixed assets are valued at historical cost or estimated
historical cost if historical cost is unavailable. Donated
fixed assets are valued at their estimated market value as of
the date donated.
The fixed assets of the proprietary funds are depreciated
using the straight-line method over the estimated useful lives
of the assets. The estimated useful lives are as follows:
Water Sewer Mains Lines 100 years
Buildings and Structures 20-40 years
Water Wells and Storage Tanks 15-50 years
Sewer Lift Stations 15-40 years
Machinery and Equipment 5-20 years
Furniture and Fixtures 5-20 years
Public Utility assets financed by special assessments are
recorded as contributions.
-25-
Note 1: Summarv of Siqnificant Accountina Policies (continued)
C. Fixed Assets and Lona-Term Liabilities (continued)
Long-term liabilities expected to be financed from
governmental funds are accounted for in the General Long-Term
Debt Account Group, not in the governmental funds.
All proprietary funds are accounted for on a flow of economic
resources measurement focus. With this measurement focus, all
assets and all liabilities associated with the operations of
these funds are included on the balance sheet. Fund equity
(i.e., net total assets) is segregated into contributed
capital and retained earnings components. Proprietary
fund-type operating statements present increases (e.g.,
revenues) and decreases (e.g., expenses) in net total assets.
D. Basis of Accountina
Governmental funds and agency funds are accounted for using
the modified accrual basis of accounting. Their revenues are
recognized when they become measurable and available.
Available means collectible within the current period or soon
enough thereafter to be used to pay liabilities of the current
period.
Major revenues that are susceptible to accrual include taxes,
special assessments, intergovernmental revenues, charges for
services, and investment earnings. Major revenues that are
not susceptible to accrual include licenses and permits, fees
and miscellaneous revenues; such revenues are recorded only as
received because they are not measurable until collected.
Interest on special assessments is recognized as revenue when
due, net of delinquencies.
Expenditures are generally recognized under the modified
accrual basis of accounting when the related fund liability is
incurred, except for principal and interest on general
long-term debt which is recognized when due.
All proprietary funds are accounted for using the accrual
basis of accounting. Their revenues are recognized when they
are earned, and expenses are recognized when they are
incurred. Unbilled Water and Sewer fund utility service
receivables are recorded at year end. The City applies all
applicable Financial Accounting Standards Board (FASB)
pronouncements issued prior to November 30, 1989 in accounting
for its proprietary operations.
E. Budaets and Budaetarv Accountina
The City follows these procedures establishing the budgetary
data reflected in the financial statements:
-26-
Note 1: Summarv of Sianificant Accountinq Policies (continued)
E. Budaets and Budcretarv Accountinq (continued)
1. In August, the City Manager submits to the City Council
proposed operating budgets for the fiscal year commencing the
following January. The operating budgets include expenditures
and the means of financing them.
2. The County mails individual property tax notices showing
the taxes which would result from the proposed budgets of all
taxing units to each property in November.
3. Public hearings are conducted to obtain taxpayer comments.
4. The budgets are legally enacted through passage of a
resolution by the City Council in the month of December.
S. The Cit Council must authorize an transfer of bud eted
Y Y g
amounts between departments within any fund.
6. Supplemental appropriations during the year may only be
made by the City Council. These amounts must be financed by
funds from the contingency reserve set up in the general fund
or by additional revenues.
7. All budget amounts lapse at the end of the year to the
extent they have not been expended.
8. Formal budgetary integration is employed as a management
control device during the year for all governmental funds with
the exception of Debt Service Funds and certain Capital
Project Funds which have adopted project-length budgets.
Formal budgetary integration is not employed for Debt Service
Funds because effective budgetary control is alternatively
achieved through general obligation bond indenture provisions.
Budgetary control for project-length Capital Projects Funds is
accomplished through the use of project controls.
9. Budgets are adopted on a basis consistent with generally
accepted accounting principles. Annual appropriated budgets
are adopted for all governmental funds except for Debt Service
Funds and certain project-length Capital Project Funds.
10. Budgetary control is maintained at the department level
for the General Fund and at fund level for all other
governmental funds that adopt annual budgets.
11. Budgeted amounts are as originally adopted, or as amended
by the City Council. Individual and aggregate amendments were
not material in relation to the original appropriations.
2 7
Note 1: Summarv of Sianificant Accountina Policies (continued)
F. Budaet/GAAP Reconciliation
The following schedule reconciles the Combined Statement of
Revenues, Expenditures and Changes in Fund Balance Budget to
Actual to the amount on the Combined Statement of Revenues,
Expenditures and Changes in Fund Balances:
Fund Balances (budget) 5,966,421
Timing difference (project-length budgets) 8,966,106
Fund Balances (GAAP) $14.932.527
The funds which adopt project-length budgets are the Capital
Improvements, Municipal State Aid for Construction and the
Special Assessment Construction capital projects funds.
G. Investments
Cash balances from all funds are combined and invested to the
e�tent available in authorized investments (see Note 2).
Earnings from such investments are allocated to the respective
funds on the basis of applicable cash balance participation by
each fund. Cash and investments are stated at amortized cost
(which approximates market) except for Deferred Compensation
Fund assets which are recorded at market. Al1 highly liquid
unrestricted investments with a maturity of three months or
less when purchased are considered to be cash equivalents.
H. Inventorv
Inventories in the ro rietar funds are valued at cost, usin
P P Y 9
the weighted average in the Municipal Liquor Fund and the
first-in/first-out (FIFO) method in the other proprietary
funds. The costs of qovernmental fund type supplies are
recorded as expenditures when purchased.
I. Restricted Assets and Retained Earninas
The City Council passed a resolution establishing a$1,000,000
endowment account in the Capital Project Economic
Development Authority Fund. The endowment account's interest
is used by the E.D.A. to fund various housing programs.
Investments in the Refunding Tax Increment Bonds of 1992 Debt
Service Fund are classified as restricted because the
securities have been placed in an irrevocable trust with an
escrow agent.
J. Accumulated Unpaid Vacation and Sick Pav
The City pays employees severance pay upon termination of
employme.nt based on accumulated sick leave and accrued
vacation. Such pay is accrued as an expenditure/expense as it
is earned.
-28-
Note l: Summarv of Sianificant Accountina Policies (continued)
K. Fund Eauitv
Contributed capital is recorded in proprietary funds that have
received capital grants or contributions from developers,
customers or other funds.
Reserves represent those portions of fund equity not
appropriable for expenditure or legally segregated for a
specific future use. Designated fund balance represents
tentative plans for future use of financial resources.
L. Propertv Tax
Property tax levies are set by the City Council in December of
each year, and are certified to Hennepin County for collection
in the following year. In Minnesota, counties act as
collection agents for all property taxes.
The County spreads all levies over taxable property. Such
taxes become a lien on January 1 and are recorded as
receivables by the City at that date. Revenues are accrued
and recognized in the year collectible, net of delinquencies.
Real property taxes may be paid by taxpayers in two equal
installments on May 15 and October 15. Personal property
taxes may be paid on February 28 and June 30. The County
provides tax settlements to cities and other taxing districts
two times a year, in July and December.
Taxes which remain unpaid at December 31 are classified as
delinquent taxes receivable and are fully offset by deferred
revenue because they are not known to be available to finance
current expenditures. At December 31, 1995, the City has
recorded $507, 809 in deferred revenue for the General Fund for
estimated property tax abatements that are anticipated to be
repaid to the County in future years.
M. Reclassification
Certain 1994 accounts have been reclassified to conform to the
1995 presentation.
N. Total Columns on Combined Statements
Total columns on the Combined Statements are captioned
Memorandum Only to indicate that they are presented only to
facilitate financial analysis. Data in these columns do not
present financial position, results of operations, or cash
flows in conformity with generally accepted accounting
principles. Interfund eliminations have not been made in the
aggregation of this data.
-29-
Note 2: Cash and Investments i
A. Deposits
In accordance with Minnesota Statutes, the City maintains
deposits at those depository banks authorized by the City
Council. All such depositories are members of The Federal
Reserve System.
Minnesota Statutes require that all City deposits be protected
by insurance, surety bond, or collateral. The market value of
collateral pledged must equal 110% of the deposits not covered
by insurance or bonds (140% in the case of mortgage notes
pledged).
Authorized collateral includes the legal investments described
below, as well as certain first mortgage notes, and certain
other state or local government obligations. Minnesota
Statutes require that securities pledged as collateral be held
in safekeeping by the City treasurer or in a financial
institution other than that furnishing the collateral.
At December 31, 1995 the carrying amount of the City's demand
deposits was $282,026 and the bank balance was $616,179. Of
the bank balance, $194.,924 was covered by federal depository
insurance (risk category A) and the remainder was covered by
collateral held in the�pledging bank's trust department in the
City's name (risk category B).
Risk Cateaorv
(A) Insured or collateralized b securities held
Y
by the City or its agent in the City's name.
(B) Collateralized with securities held by the
pledging institution's trust department
in the City's name.
(C) Uncollateralized or collateralized with securities
held by the pledging institution's trust department
or agent, but not in the City's name.
The City may also invest idle funds as authorized by
Minnesota Statutes, as follows:
(a) Direct obligations or obligations guaranteed by
the United States or its agencies.
(b) Shares of investment companies registered under
the Federal Investment Company Act of 1940 and
whose only investments are in securities described
in (a) above.
3 0
Note 2: Cash and Invest:nents (continued)
B. Investments (continued)
(c) General obligations of the State of Minnesota or
any of its municipalities.
(d) Bankers acceptances of United States banks eligible
for purchase by the Federal Reserve System.
(e) Commercial paper issued by United States
corporations or their Canadian subsidiaries, of the
highest quality, and maturing in 270 days or less.
(f) Repurchase or reverse repurchase agreements with
banks that are members of the Federal Reserve
System with capitalization exceeding $10,000,000,
a primary reporting dealer in U.S. government
securities to the Federal Reserve Bank of New York,
or certain Minnesota securities broker-dealers.
(g) Future contracts sold under authority of
Minnesota Statutes 471.56, subdivision 5.
The City s investments are categorized below to give an
indication of the level of custodial credit risk assumed at
year-end. Category 1 includes investments that are insured or
registered or for which the securities are held by the City or
its agent in the City's name. Category 2 includes uninsured
and unregistered investments for which the securities are held
by the counter party's trust department or agent in the City�s
name. Category 3 includes uninsured and unregistered
investments for which the securities are held by the counter
party, or by its trust department or agent, but not in the
City's name.
Balances at December 31, 1995:
Credit Risk Category Carrying Market
Securities Type 1 2 3 Amount Value
U.S. Governments 316,580,SC0 316,580,900 316,768,026
Federal Agencies 15,835,CCo 15,835,00o 15,870,985
Commercial Paper 4,20o,C(;0 4,2CO 4,124,624
�36,615,�C0 50 30 536, 536,763,635
31
NOTE 2: Cash and Investments (continued)
SUMMARY OF CASH AND INVESTMENTS
Balances at December 31, 1995
Cash in Banks: Carrying
Amount
Marquette Bank Brookdale, Brooklyn Center, Minnesota $200,758
American Bank, St. Paul, Minnesota 20
Riverside Bank, Minneapolis, Minnesota g� ,248
Total Cash in Bank �282,026
Investments
Investment Tvoe interest Rate Maturity
U.S. Treasury notes 4.3 7.8% 1996 2000 $16,580,900
Fede�al Home Loan Bank bonds 4.6 6.9% 1996 2000 5,900,Q00
Federal Home Loan Mortgage
bonds 5.2% 1998 300,000
Federal National Mortgage
Association bonds 5.6 8.2% 1996 2003 9,635,000
Commercial Paper 5.5 5.8% 1996 4,200,000
Total lnvestments $36,615,900
Minnesota Municipal Money Market 1,705,361
Money Market Fund, First Trust, St. Paul, Minnesota 75,748
$38,679,035
Accrued interest on investments 356,288
Discounts on investments (121,499)
Premiums on investments 52,717
Change funds 6,514
Performance Deposits (25,032)
Total Cash, Cash Equivalents, Investments,
and Restricted Investments $38,948,023
Other Assets Investment Pools Deferred Compensation Plan $3,174,761
From Exhibit 1, COMBINED BALANCE SHEET
Cash and cash equivalents �3,658,392
Investments $30,108,711
Restricted investments 5,180,920
$38,948,023
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Note 3: Fixed Assets
Changes in the General Fixed Assets Account Group during 1995 were as follows:
Balance Balance
Jan. 1, 1995 Additions Disposals Dec. 31, 1995
Land $2,369,801 $2,369,801
Buildings 8 Improvements 5,417,234 $814,058 $15,795 6,215,497
Park Improvements 3,039,104 114,806 43,279 3,110,631
Furniture Fixtures 1,114,241 415,233 222,795 1,306,679
Departmental Equipment 1,045,429 88,144 51,026 1,082,547
TOTAL GENERAL FIXED
ASSETS $12,985,809 $1,432,241 $332,895 $14,085,155
The following is a summary of proprietary fund-type fixed assets at December 31, 1995:
Internal
Enterprise Service
Funds Funds
Land $2,738,600
Land Improvements 92,954
Buildings Improvements 16,520,591
Mains Lines 18,455,923
Departmental Equipment 1,273,224 $4,190,101
Total 39,081,292 4,190,101
Less accumulated depreciation (8,861,698) (2,205,353)
Net $30,219,594 $1,984,748
Construction in progress is included in furniture and fixtures of the General Fixed Assets Account
Group and was comprised of the following:
Total Expended
Project to
Proiect Authorization 12/31/95 Committed
Interim City Hall Remodelling $440,000 $387,670 $70,366
The overexpenditure from the interim City Hall Remodelling Project was the result of personal
service costs being charged against the project where no provision was made in the project budget
for such costs. The overexpenditures will be funded by available fund balance.
-33-
Note 4: Operatina Leases
The City leases space for the operation of one of its three
municipal liquor stores uncler a noncancelable five-year lease.
The lease provides for minimum rent payments, plus a pro-rata
share of common area expenses. Total rental expense under the
lease agreement for the years ended December 31, 1995 and 1994
was $32,584 and $35,410, respectively. Future minimum rent
payments are as follows:
Year Endina Amount
1996 26,327
1997 27,207
1998 28,087
1999 7,040
The Earle Brown Heritage Center Fund, which operates as an
enterprise fund, leases space to four tenants. Three of the
leases have terms greater than one year and require annual
rent increases to cover the anticipated effects of inflation.
Rental revenues and expenditures under the lease agreements
are as follows:
1995 1994
Rental Revenues $112,109 $116,326
Rental Expenditures $102,742 $103,248
Total minimum rentals to be received in the future under the
lease terms are as follows:
Year Endina Amount
1996 79,596
1997 45,620
1998 ___9,918
$135,134
34
Note 5: Lona-Term Debt
The City's long-term debt includes state aid street bonds,
special assessment improvement bonds, and tax increment bonds;
all of which are recorded in the General Long-Term Debt
Account Group. In addition, the City issued storm sewer
revenue bonds which are recorded as a liability in the Storm
Drainage Fund.
1 The following is a summary of bond transactions of the City
for the year ended December 31, 1995:
State Speciai Tax
Aid Street Assessment Revenue Increment
Bonds Bonds Bonds Bonds Total
Bonds payable
January 1 $2,605,000 $1,010,000 $1,830,000 �14,085,000 $19,530,000
Bonds issued 780,000 4,560,000 5,340,000
Bonds retired 150,000 85,000 590,000 825,000
Bonds payable
December 31 $2,455,000 $1,705,000 $1,830,000 $18,055,000 $24,045,000
State Aid Street Bonds
Future allotments from Municipal State Aid for Streets will
repay these bonds which are backed by the full faith and
credit of the City.
Special Assessment Bonds
The special assessment bonds are payable primarily from
special assessments levied for local improvements and are
backed by the full faith and credit of the City.
Revenue Bonds
The Storm Sewer Bonds are general obliaation revenue bonds and
are backed by the full faith and credit of the City. Revenues
to repay the bonds are provided by the Storm Drainage Fund.
Tax Increment Bonds
Tax Increment Bonds will be repaid from incremental tax
increases on the property within certain development districts
and are backed by the full faith and credit of the City.
35
Note 5: Lona-Term Debt continued
Refundina Tax Increment Bonds
In a prior year, the City issued $4,270,000 in General
Obligation Tax Increment Refunding Bonds, Series 1992A with a
net interest rate of 5.329%. The proceeds of the 1992 bond
issue will be used to advance refund $4,180,000 of the City's
$5,250,000 General Obligation Tax Increment Bonds, Series
1985A, callable on February 1, 1996 and with a net interest
rate of 8.054%. The proceeds of $4,242,551, together with
other City funds in the amount of $250, (after payment of
$45,137 in bond issue costsj were used to purchase State and
Local Government Securities (SLG's). Those securities were
deposited in an irrevocable trust with an escrow agent to
provide for the payment of remaining maturities of the
refunded bonds at the call date and for the interest on the
refunding bonds through the call date. The City is
responsible for principal and interest payments on the
refunded bonds through the call date. The principal balances
of both the refunded and refunding bonds are reported in the
General Long-Term Debt Account Group until the call date of
the refunded bonds, at which time the refunded bonds will be
considered defeased and the related liability will be removed
from the General Long-Term Debt Account Group.
Long-term debt maturities (including interest of $7,738,708) are as foilows:
State Special Tax
Aid Street Assessment Revenue Increment
Bonds Bonds Bonds Bonds Total
1996 $307,872 $184,790 $198,315 $5,738,999 $6,429,976
1997 308,588 256,675 237,595 1,535,892 2,338,750
998 308,478 214,240 240,390 1,555,040 2,318,148
1999 307,560 212,470 237,557 1,827,233 2,584,820
2000 310,706 210,237 239,110 1,875,554 2,635,607
2001 on 1,872,602 1,073,738 1,194,050 11,336,017 15,476,407
$3,415,806 �2,152,150 �2,347,017 $23,868,735 $31,783,708
-36-
Note 5: Long-Term Debt (continued)
Long-term debt obligations outstanding at year-end are summarized as follows:
Bond
Payment Issue Maturity Authorized
Rates Dates Date Date And Issued Retired Outstanding
State Aid Street Bonds
G.O. State-Aid Street Bonds 4.7-6.65 4-01 10-01 09-01-91 0401-06 $3,000.000 $545,000 $2,455,000
Total $3,000,000 $545,000 $2,455,000
Special Assessment Bonds
1987 Refunding Bonds 4.7-5.5 2-01 8-01 04-01-87 02-01-97 $1,200,000 $1,110,000 $90,000
1994 Street Improvement Bonds 4.1-5.5 2-01 8-01 OS-01-94 02-01-05 835,000 835,000
1995 Street Improvement Bonds 4.0-4.9 2-01 8-01 11-01-95 02-01-06 780,000 780,000
Total $2,815,000 $1,110,000 $1,705,000
Revenue Bonds
1994 Storm Sewer Revenue Bonds 4.2-5.4 2-01 8-01 08-01-94 02-01-05 $1,830,000 $1,830,000
Total $1,830,000 $1,830,000
Tax Increment Bonds
1985 G.O. Tax Increment Bonds 6.75-8.1 2-01 8-01 12-01-85 02-01-03 55,250,000 $775,000 $4,475,000
1991 G.O. Tax Increment Bonds 4.7-6.0 2-01 8-01 03-01-91 02-01-04 6,050,000 1,300,000 4,750,000
1992 G.O. Refunding Tax Incr Bonds 4.5-5.6 2-01 8-01 02-01-92 02-01-03 4,270,000 4,270,000
1995 Taxable G.O. Tax Increment Bonds 6.0-6.75 2-01 8-01 11-01-95 02-01-11 4,560,000 4,560,000
Total $20,130,000 $2,075,000 $18,055,000
Note 6: Contributed Capital
During 1995 contributed capital changed by the foilowing amounts:
Internal
Enterprise Service
Funds Funds
Additions:
Improvement construction $146,963
Deductions:
Depreciation on contributed assets (336,822) ($255,949)
Net Change (189,859) (255,949)
Contributed Capital, January 1, 1995 21,187,660 4,114,355
Contributed Capital, December 31, 1995 $20,997,801 $3,858,406
t
3 7
Note 7: Segment Information as of and for the Year Ended December 31, 1995 was as follows:
E. Brown
Enterprise Funds: Municipal Goff Heritage Recycling Water Sanitary Storm
Liquor Course Center Refuse Utility Sewer Drainage
Fund Fund Fund Fund Fund Fund Fund Total
Operating Revenues $2,696,776 $301,588 $2,385,465 $212,179 $1,048,834 $2,282,067 $788,897 $9,715,806
Depreciation Expense 20,045 15,990 347,505 241,251 114,132 5,471 744,394
Operating Income (Loss) 143,120 33,481 (435,950) (3,038) (5,574) 381,357 598,436 711,832
Operating Transfers (Out) (100,000) (100,000)
Net Income (Loss) 37,�474 (24,646) (467,951) 2,594 296,068 624,046 580,392 1,047,977
Current Capital Contributions 146,963 146,963
Property, Plant Equipment:
Additions 23,105 3,314 81,123 350,265 1,280,515 1,260,509 2,998,831
Deletions 1,804 5,726 748 66,461 13,763 88,502
Net Working Capiial 181,993 3,535 (281,260) 108,306 5,152,669 3,513,865 1,125,326 9,804,434
Total Assets 663,706 1,703,655 10,203,249 108,806 14,157,494 11,158,661 4,007,114 42,002,685
Bonds and OtherLong-Term
Liabilities Payable from
Operating Revenues 111,344 1,161,500 1,830,000 3,102,844
Total Equity $416,249 $537,677 $9,416,907 $108,306 $14,094,097 $10,270,220 $2,077,728 $36,921,184
Note 8: Interfund Receivables and Pavables
Due from other funds and due to other funds are short-term
receivables/payables which have interest rates of 0% to 7%.
Advances to other funds and advances from other funds are
considered long-term receivables/payables. Advances have interest
rates of 0% to 8.5% with maturities extending through the year
2011. Advances between funds are offset by a fund balance reserve
account and are not expendable available financial resources.
Due From Due to
Other Funds Other Funds
1 General Fund 862,831
Special Revenue Funds:
E.B. Farm Tax Increment Fin. Fund $1,109,340
Comm. Development Block Grant Fund 235,643
Debt Service Funds:
Tax Increment Bonds of 1985 Fund 78,835
Tax Increment Bonds of 1991 Fund 78,920
Tax Increment Bonds of 1995 Fund 56,651
Refunding Bonds of 1987 Fund 26,301
Capital Projects Funds:
Capital Improvements Fund 582,626
M.S.A. Construction Fund 372,303
Special Assessments Constr. Fund 1,050,477
Economic Development Authority Fund 932,748
Enterprise Funds:
Earle Brown Heritage Center Fund 595,755
Total $2,991,215 $2,991,215
Advances to Advances from
Other Funds Other Funds
General Fund 105,074
Special Revenue Funds:
E.B. Farm Tax Increment Fin. Fund 698,143
Capital Projects Funds:
Capital Improvements Fund 1,297,672
M.S.A. Construction Fund 593,069
Enterprise Funds:
Municipal Liquor Fund 136,172
Golf Course Fund _1,161,500
Total $1,995,815 $1,995,815
3 9
Note 9: Individual Fund Disclosures
Deficit fund balances exist in the followina funds:
Special Revenue Funds:
Earle Brown Tax Increment Financing District:
Unreserved deficit fund balance $1,807,020
This deficit is being funded through internal borrowing and
will be repaid from future surplus tax increments.
Capital Projects Funds:
Special Assessment Construction:
Unreserved deficit fund balance $536,769
This deficit is being funded through internal borrowing and
will be repaid from the collection of special assessments
already levied.
Enterprise Funds:
Golf Course:
Unreserved deficit retained earnings $99,209
Earle Brown Heritage Center:
Unreserved deficit retained earnings $131,109
These deficits are being funded through internal borrowing�.
It is expected that future profits will cover the defici.ts.
Note 10: Continaencies
There are several lawsuits pending in which the City is
involved. City Management estimates that the potential claims
against the City not covered by insurance resulting from such
litigation would not materially affect the financial
statements of the City.
Note 11: Risk Manaaement
The City is exposed to various risks of loss related to torts;
theft of, damage to and destruction of assets; errors and
omissions and natural disasters for which the City carries
commercial insurance policies. The City retains risk for the
deductible portions of the insurance policies. The amount of
these deductibles are considered immaterial to the financial
statements.
There were no significant reductions in insurance from the
previous year or settlements in excess of insurance coverage
for any of the past three years. However, the City did
increase the deductible portion of the insurance policies and
the amount of this increase is considered immaterial to the
financial statements.
-40-
Note 12: Deferred Compensation Plan
The City offers its employees a deferred compensation plan
created in accordance with Internal Revenue Code Section 457.
The plan, available to•all City employees, permits them to
defer a portion of their salary until future years. The
deferred compensation is not available to employees until
termination, retirement, death, or unforeseeable emergency.
All amounts of compensation deferred under the plan, all
property and rights purchased with those amounts, and all
income attributable to those amounts, property, or rights are
(until paid or made available to the employee or other
beneficiary) solely the property and rights of the City
(without being restricted to the provisions of benefits under
the plan), subject only to the claims of the City's general
creditors. Participants' rights under the plan are equal to
those of general creditors of the City in an amount equal to
the fair market value of the deferred account for each
participant.
It is the opinion of the City's legal counsel that the City
has no liability for losses under the plan but does have the
duty of due care that would be required of an ordinary prudent
investor. The City believes it is unlikely that it will use
the assets to satisfy the claims of general creditors in the
future.
The City is reporting the activity of this plan as an agency
fund and carries its investment at market value.
Note 13: Post-Em�lovment Health Care Benefits
The City provides post-retirement health care benefits, as per
the requirements of a City Council resolution, for certain
retirees and their dependents. Full time employees have the
option of retaining membership in the City's health insurance
plan for which the City will pay the single person premium
until such time as the retiree is eligible for Medicare
coverage or at age 65, whichever is sooner. If the retiree
desires to continue family coverage, the additional cost for
family coverage shall be paid by the retiree to the City. In
lieu of the City payment of the single person premium, the
qualified employee may elect to receive a lump sum payment
calculated by multiplying the number of months between the
date on which the employee retires and the employees 65th
birthday times the monthly average single person premium. To
qualify under this program, the employee, on the date of
his/her retirement, must meet eligibility requirements for a
full retirement annuity under PERA (Note 14A) without
reduction of benefits because of age, disability, or any other
reason for reduction. In addition, the employee must have
been employed full time by the City for the last ten
41
Note 13: Post-Emplovment Health Care Benefits (continued)
consecutive years prior to the effective date of retirement.
Employees participate in this program on a voluntary basis.
As of December 31, 1995, nine employees currently participate
in this program. The cost of City paid health care premiums
for the years ended December 31, 1995 and 1994 was $18,317 and
$43,477, respectively.
In addition, the expenditures in 1995 were increased by
$781,205 to reflect a refinement in the estimate of the
liability for the cost of employees who will be eligible for
this program. The program was originally enacted in 1986 as
an experimental program with a five year sunset provision.
The original method of estimating the liability reflected this
temporary five year program life span. Repeated extensions of
the program have been approved to the point where it can no
longer be viewed as temporary or experimental. The 1995
refinement of the liability estimate reflects the current
status of the program.
NOTE 14: Pension Plans:
Public Emplovees Retirement Association (PERA)
City employees participate in the pension plans administered
by the Public Employees Retirement Association (PERA). In
accordance with Government Accounting Standards Board
Statement No 5, the PERA plans are classif ied as a def ined
benefit multiple employer cost sharing plans.
Disclosures relating to this plan are as follows:
A. Plan Description
Al1 full-time and certain part-time employees of the City of
Brooklyn Center are covered by defined benefit pension plans
administered by the Public Employees Retirement Association of
Minnesota (PERA). PERA administers the Public Employees
Retirement Fund (PERF) and the Public Employees Police and
Fire Fund (PEPFF) which are cost sharing multiple employer
retirement plans. These plans are established and
administered in accordance with Minnesota Statutes, Chapters
353 and 356.
PERF members belong to either the Coordinated Plan or the
Basic Plan. Coordinated Plan members are covered by Social
Security and Basic members are not. All new members must
participate in the Coordinated Plan. A11 police officers,
fire fighters and peace officers who qualify for membership by
statute are covered by the PEPFF. The payroll for employees
covered by PERF and PEPFF for the year ended December 31, 1995
was $4,350,869 and $2,024,724 respectively; the City's total
payroll was $7,583,974.
-42-
NOTE 14: Pension Plans (continued)
A. Plan Describtion (continued)
PERA provides retirement benefits as well as disability
benefits to members, and benefits to survivors upon death of
eligible members. Benefits are established by State Statute,
and vest after three years of credited service. The defined
retirement benefits are based on member's average salary for
any f ive successive years of allowable service, age, and years
of credit at termination of service. Two methods are used to
compute benefits for Coordinated and Basic members. The
retiring member receives the higher of step rate benefit
accrual formula (Method 1) or a level accrual formula (Method
2). Under Method 1, the annuity accrual rate for a Basic
member is 2 percent of average salary for each of the first 10
years of service and 2.5 percent for each remaining year. For
a Coordinated member, the annuity accrual rate is 1 percent
of average salary for each of the first l0 years and 1.5
percent for each remaining year. Using Method 2, the annuity
accrual rate is 2.5 percent of average salary for Basic
members and 1.5 percent for Coordinated members. For PEPFF
members, the annuity accrual rate is 2.65 percent for each
year of service. For PERF members whose annuity is calculated
using Method 1, and for all PEPFF members, a full annuity is
available when age plus years of servi.ee equal 90. A reduced
annuity is also available to eligible members seeking early
retirement.
There are different types of annuities available to members
upon retirement. A normal annuity is a lifetime annuity that
ceases upon the death of the retiree. No survivor annuity is
payable. There are also various types of joint and survivor
annuity options available which will reduce the monthly normal
annuity amount, because the annuity is payable over joint
lives. Members may also leave their contributions in the fund
upon termination of public service, in order to qualify for a
deferred annuity at retirement age. Refunds of contributions
are available at any time to members who leave public service,
but be�ore retirement benefits begin.
The benefit provisions stated in the previous paragraphs of
this section are current provisions and apply to active plan
participants. Vested, terminated employees who are entitled
benefits but are not receiving them yet, are bound by the
provisions in effect at the time they last terminated their
public service.
B. Contributions Reauired and Contributions Made
Minnesota Statutes Chapter 353 sets the rate for employer and
employee contributions. The City makes annual contributions
to the pension plans equal to the amount required by state
statutes. According to Minnesota Statutes Chapter 356.215,
-43-
NOTE 14: Pension Plans (continued)
B: Contributions Reauired and Contributions Made (continuedl
Subd. 4(g) the date of full funding required for the PERF and
the PEPFF is July 1, 2020. As part of the annual actuarial
valuation, PERA's actuary determines the sufficiency of the
statutory contribution rates towards meeting the required full
funding deadline. The actuary compares the actual
contribution rate to a"required" contribution rate. The
required contribution rate consists of (a) normal costs based
on entry age normal cost methods, (b) a supplemental
contribution for amortizing any unfunded actuarial accrued
liability by the date required for full funding, and (c) an
allowance for administrative expenses. Current combined
statutory contribution rates and actuarially required
contribution rates for the plans are as follows:
Statutorv Rates Reauired
Emplovee Emblo er Rates*
Public Employees
Retirement Fund:
Basic Plan and
Coordinated Plan 4.31% 4.60% 9.760
Police Fire Fund 7.60% 11.40% 19.00%
The recommended rates scheduled above represent the required
rates for fiscal year 1995 contributions as reported in the
July l, 1994, actuarial valuation reports.
Total contributions made by the City during fiscal year 1995
were:
Percentaae of
Contribution Covered Pavroll
Emplovees Emplover Emplovees Emplover
Public Employees
Retirement Fund:
Basic Plan 7,443 9,705 8.23% 10.73%
Coordinated
Plan 184,043 194,920 4.23% 4.48%
Police Fire
Fund 153,879 230,818 7.60% 11.40%
TOTALS $345,365 $435,443
The City s contribution for the year ended June 30., 1995, to
the PERF represented approximately .17% of total
contributions required of all participating entities. For
PEPFF, contributions for the year ended June 30, 1995,
represented .69% of total contributions required of all
participating entities.
44
NOTE 14: Pension Plans (continued)
C. Fundina Status and Proaress
1. Pension Benefit Obligation
The "pension benefit obligation" is a standardized disclosure
measure of the present value of pension benefits, adjusted for
the effects of projected salary increases and step-rate
benefits, estimated to be payable in the future as a result of
employee service to date. The measure which is the actuarial
present value of credited projected benefits, is intended to
help users assess PERA's funding status on a going-concern
basis, assess progress made in accumulating sufficient assets
to pay benefits when due, and make comparisons among Public
Employees Retirement Systems and participating employers. The
measure is independent of the actuarial funding method used to
determine required contributions, which is discussed in Note
B. PERA does not make separate measurements of assets and
pension benefit obligation for individual employers.
The pension benefit obligations as of June 30, 1995
are shown below (in millions):
PERF PEPFF
Total pension benefit obligation $5,994 $1,113
Net assets available for benefits,
at cost (market �value for
PERF $5,267; PEPFF $1,445) $5,074 $1,356
Unfunded (assets in excess of)
pension benefit obligation $_-920 $_(243)
The pension benefit obligation was determined as part of an
actuarial valuation at July 1, 1995.
For the PERF, significant actuarial assumptions used in the
calculation of the pension benefit obligation include (a) a
rate of return on the investment of present and future assets
of 8.5 percent per year, compounded annually, prior to
retirement, and 5 percent per year, compounded annually,
following retirement; (b) projected salary increases taken
from an age table which incorporates a 5 percent base
inflation assumption; (cj payroll growth at 6 percent per
year, consisting of 5 percent inflation and one percent due to
growth in group size; (d) post-retirement benefit increases
that are accounted for by the 5 percent rate of return
assumption following retirement; and (e) mortality rates based
on the 1983 Group Annuity Mortality Table set forward one year
for retired members and set back five years for each active
member.
-45-
NOTE 14: Pension Plans (continuedj
C. Fundina Status and Proqress (continued)�
Actuarial assumptions used in the calculation of the PEPFF
include (a) a rate of return on the investment of present and
future assets of 8.5 percent per year, compounded annually,
prior to retirement, and 5 percent per year, compounded
annually, following retirement, (b) projected salary increases
of 6.5 percent per year, compounded annually, attributable to
the effects of inflation; (c) post-retirement increases that
are accounted for by the 5 percent rate of return assumption
following retirement; and (d) mortality rates based on the
1971 Group Annuity Mortality Table projected to 1984 for males
and females.
2. Changes in Plan Provisions
Since the July l, 1994 actuarial valuation, there were no
changes in actuarial assumptions for the PERF and the PEPFF
which impacted funding costs.
Potential changes in the actuarial assumptions used for the
PEPFF inay be made in the future. Results of an experience
study for the fund during the four-year period ending June 30,
1994, disclosed (a) retirees are living longer; (b) the
expected active member death rate is declining; (c) the trend
towards earlier retirement continues; and (d) the pattern of
salary increases varies substantially by ages, with a strong
merit and seniority component at the younger ages. Based on
these results, PERA will soon consider revising the actuarial
assumptions for retirement age, mortality, payroll growth, and
individual salary increases. These changes, if adopted within
fiscal year 1996, will significantly impact the July 1, 1996
actuarial valuation of the PEPFF.
3. Changes in Actuarial Assumptions
The 1995 legislative session did not include any benefit
improvements which would impact funding costs for the PERF and
the PEPFF.
D. Ten-Year Historical Trend Information
Ten-year historical trend information is presented in PERA's
Comprehensive Annual Financial Report for the year ended June
30, 1995. This information is useful in assessing the pension
plan's accumulation of sufficient assets to pay pension
benefits as they become due.
E. Related Partv Investments
As of June 30, 1995 and for the fiscal year then ended, PERA
held no securities issued by the City or other related parties.
-46-
Note 15: Pension Plan Brooklvn Center
Fire Debartment Relief Association
A. Plan Description
The City contributes to the Brooklyn Center Fire Department
Relief Association (Association). In accordance with
Government Accounting Standards Board Statement No. 5, it is
classified as a defined benefit single employer public
employee retirement system.
Volunteer fire fighters of the City are members of the
Association and its pension plan. An actuarial study was
completed during 1993 which developed a schedule of benefit
increases which will take effect on January 1 of each year.
The plan's baseline benefit after 20 years of service and
attaining the age 50 increases to $490 per month in 1994, $510
per month in 1995, and $530 per month in 1996. There are
additional benefits for service through 30 years. Vesting
begins with 10 years of service and benefits are pro-rated for
members who have between 10 and 20 years of service. Members
may choose to take a lump sum settlement instead of the
pension, equal to $3,500 in 2994, $3,750 in 1995, and $4,000
in 1996, times the number of years of service, with a maximum
of 30 years. Spouse's, children's and funeral benefits are
also provided. These benefit provisions and all other
requirements are consistent with enabling state statutes.
The City levies property taxes at the direction of and for the
benefit of the association plan and passes through state aids
allocated to the plan, all in accordance with enabling state
statutes.
B. Fundina Status and Proaress
The amount shown below as the "pension benefit obligation" is
a standardized disclosure measure of the present value of
pension benefits, adjusted for the effects of projected
benefit increases, estimated to be payable in the future as a
result of service to date. The measure is the actuarial
present value of credited projected benefits and is intended
to help users assess the funding status of the association
plans on a going-concern basis, assess progress made in
accumulating sufficient assets to pay benefits when due, and
make comparisons among plans. It is independent of the
actuarial funding method used to determine contributions to
the plan, discussed in "C" below.
The pension benefit obligation was determined as part of an
actuarial valuation at January 1, 1993 and updated as of
January 1, 1996. Significant actuarial assumptions used
include (a) a rate of return on the investment of present and
future assets of 5 percent per year compounded annually, and
(b) no post retirement benefit increases.
-47-
Note 15: Pension Plan (continued)
B. Fundina Status and Proaress (continuedl
An actuarial update to the pension obligation is performed
annually. On December 31, 1995, the overfunded pension
benefit obligation was as follows:
Pension benefit obligation:
Retirees and beneficiaries currently
receiving benefits and terminated
employees not yet receiving benefits $1,341,406
Current Employees
Employer-financed vested 1,181,872
Employer-financed non-vested 191.932
Total pension benefit obligation 2,715,210
Net assets available for benefits
(at cost, market eguals $2,741,480) 2.734,697
Overfunded pension benefit obligation (19,487)
The pension benefit obligation decreased by $77,805 because
the payment of lump sum distributians offset the additional
year of service credited to plan members.
C. Contributions Reauired and Cor�tributions Made
Financial requirements of the association plan are determined
on an actuarial basis using the entry age normal actuarial
cost method. Normal cost is funded on a current basis.
Contributions at the level specified by the last full
actuarial study will continue to be made until a new study
revises the contribution level. The minimum tax levy
obligation is the financial requirement for the year less
anticipated state aids. The funding strategy for normal cost
should provide sufficient resources to pay plan benefits on a
timely basis.
Total contributions to the plan in 1995 amounted to $111,391,
of which $42,092 was levied by the City of Brooklyn Center and
$69,299 was from the State of Minnesota. The contributed
amounts were actuarially determined as described above and
were based on an actuarial valuation as of January 1, 1993.
The contributions represent funding for normal cost of $68,698
and the amortization of the overfunded actuarial accrued
liability of $26,241.
-48-
Note 15: Pension Plan (continued)
C. Contributions Rec�uired and Contributions Made lcontinued)
Significant actuarial assumptions used to compute pension
contribution requirements are substantially the same as those
used to determine the standardized measure of the pension
obligation. The computation of the pension contribution
requirements for 1994 was based on the same actuarial
assumptions, benefit provision, actuarial funding method, and
other significant factors used to determine pension
contribution requirements in previous years with the exception
of the change noted in Section B above.
D. Trend Information
Trend information gives an indication of the progress made in
accumulating sufficient assets to pay benefits when due. Ten
year trend information may be found in the Association's
annual financial report for the year ended December 31, 1995.
Three year trend information for the Association is as
follows:
1995 1994 1993
Available assets as a
percentage of benefit
obligation 101% 96% 98%
City's contribution**
as a percentage of *not *not *not
covered payroll applicable applicable applicable
*The Brooklyn Center Fire Department is a volunteer
organization; thus, no covered payroll exists.
**The City's contribution was made in accordance with
actuarially determined requirements.
E. Related Partv Investments
As of December 31, 1995, the 7�ssociation held no securities
issued by the City or other related parties.
Note 16: Fund Chanaes
The Street Improvement Bonds of 1995 Fund and Tax Increment
Bonds of 1995 Fund were established as debt service funds in
1995.
-49-
City of Brooklyn Center, Minnesota
1
GENERAL FUND
The City of Brooklyn Center Home Rule Charter provides in Section
7.11 that "there shall be maintained in the City Treasury a
classification of Funds which shall provide for a General Fund for
the payment of such expenses of the City as the Council may deem
proper, and such other funds as may be required by statute,
ordinance or resolution".
The General Fund was established to account for all revenues and
expenditures which are not required to be accounted for in other
funds. It has more diverse revenue sources than other funds.
These revenue sources include property taxes, licenses, permits,
fines and forfeits, intergovernmental, service charges, rents, and
investment earnings. The Fund's resources finance a wide range of
functions, including the current operations of general government,
public safety, public works, health and welfare, recreation, and
non-departmental expenditures.
This Fund utilizes the modified accrual basis of accounting.
Revenues are� recognized in the accounting period in which they
become available and measurable. Expenditures are recognized in
the accounting period in which the related liability is incurred.
5 0
City of Brookiyn Center A_,1
General Fund
COMPARATIVE BALANCE SHEET
December 31, 1995
1995 1994
ASSETS
Cash and cash equivalents $615,176 $371,061
Investments 5,660,356 4,656,048
Accounts receivable 41,955 42,150
Delinquent taxes receivable 282,251 237,996
Due from other funds 862,831 1,044,340
Due from other governments 18,399 21,841
Advance to other funds 105,074 105,074
TOTAL ASSETS $7,586,042 $6,478,510
LIABILITIES AND FUND BALANCE
Liabilities
Accounts payable $245,582 $266,152
Due to other governments 17,785 44,132
Accrued salaries payable 134,652 109,902
Accrued vacation and sick pay 563,171 526,755
Deferred revenue 790,060 317,156
Total Liabilities 1,751,250 1,264,097
Fund Balance
Reserved for advances to other funds 105,074 105,074
Unreserved fund balance
Designated:
Working capital 5,276,757 5,052,687
Appropriated to next budget 109,750 56,652
Undesignated: 343,211
Total Fund Balance 5 834 792 5 214 413
TOTAL LIABILITIES AND FUND BALANCE $7,586,042 $6,478,510
1
51
City of Brooklyn Center A
General Fund
t COMPARATIVE STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL
For the Year Ended December 31, 1995
1995
Actua� over
or Under(-) 1994
Budget Actual Sudget Actual
Revenues
Property taxes $6,398,165 $5,946,363 ($451,8�2) $5,703,773
Licenses and permits 296,400 318,202 21,802 317,620
Intergovernmental 3,489,876 3,543,009 53,133 3,443,247
Charges for services 897,732 822,530 (75,202) 825,959
Court fines 112,000 178,263 66,263 113,573
Investment earnings 186,000 256,304 70,304 218,671
Miscellaneous 14,000 15,205 1,205 22,899
Total Revenues 11,394,173 11,079,876 (314,297) 10,645,742
Ex�enditures
General government 1,966,016 1,831,045 (134,971) 1,692,268
Public safety 4,862,748 4,598,618 (264,130) 4,409,490
t Publicworks 1,560,386 1,363,244 (197,142) 1,230,565
Community services 41,146 41,146 0 41,495
Parks and recreation 2,401,651 2,226,121 (175,530) 2,055,479
Economic development 209,625 209,576 (49) 199,982
Non-departmental 405,351 289,747 (115,604) 312,779
Total Expenditures 11,446,923 10,559,497 (887,426) 9,942,058
Excess or Deficiency of
Revenues Over Expenditures (52,750) 520,379 573,129 703,684
Other Financino Sources
Operating transfers in 100,000 100,000 0 100,000
Total Other Financing
Sources 100,000 100,000 0 100,000
Excess or Deficiency of
Revenues and Other Financing
Sources Over Expenditures 47,250 620,379 573,129 803,684
Fund Baiance January 1 5,214,413 5,214,413 0 4,610,729
Equity Transfer Out 0 0 0 (200,000)
Fund Balance December 31 $5,261,663 $5,834,792 $573,129 $5,214,413
-52-
S-1
City of Brooklyn Center (Continued next page)
General Fund
SCHEDULE OF REVENUES AND OTHER FINANCING SOURCES
BUDGET AND ACTUAL
For the Year Ended December 31, 1995
1995
Actual Over
or Under(-) 1994
Budget Actual Budget Actual
Ad Valorem Taxes
Property taxes $5,981,165 $5,508,843 ($472,322) $5,286,495
Penaities and interest (4,698) (4,698) (5,793)
Lodging tax 417,000 441,159 24,159 421,069
Special assessments 1,059 1,059 2,082
Total Ad Valorem Taxes 6,398,165 5,946,363 (451,802) 5,703,773
Licenses and Permits
Liquor and beer 112,700 105,550 (7,150) 120,939
Building permits 100,000 109,007 9,007 109,057
Mechanical permits 25,000 41,149 16,149 28,855
Sewer and water permits 1,000 141 (859) 1,046
Plumbing permits 10,000 21,826 11,826 14,202
Garbage licenses 2,000 2,245 245 2,145
Taxicab licenses SQO 450 (50)
Mechanicallic�nses 4,000 3,978 (22) 3,834
Service station licenses 1,700 1,365 (335) 1,805
Vehicle dealer licenses 1,000 968 (32) 600
Bowling licenses 700 908 208 1,153
Cigarette licenses 1,300 850 (450) 1,123
Sign permits 2,000 2,081 81 2,373
Rentaf dwelling permits 20,000 11,988 (8,012) 16,350
Amusement licenses 8,100 8,302 202 7,952
Dog licenses 4,800 4,713 (87) 4,765
Misce�laneous business license 1,600 2,681 1,081 1,421
Total Licenses and Permits 296,400 318,202 21,802 317,620
Interaovernmental
Federal grants:
Miscellaneous grants 6,000 5,716 (284) 9,549
Total Federal Grants 6,000 5,716 (284) 9,549
State grants:
Local government aid 1,799,076 1,799,076 0 1,757,227
Homestead credit aid 1,300,110 1,336,593 36,483 1,286,780
Police pension aid 210,440 220,630 10,190 215,838
Fireperson pension aid 64,000 69,299 5,299 66,803
Police training 10,000 10,712 712 11,822
Street maintenance aid 90,000 90,000 0 90,000
Miscellaneous grants 10,250 10,983 733 5,228
Total State Grants 3,483,876 3,537,293 53,417 3,433,698
Total Intergovernmental Rev. $3,489,876 $3,543,009 $53,133 $3,443,247 t
-53-
S_1
City of Brookiyn Center {Continued from
Genera� Fund prior page)
SCHEDULE OF REVENUES AND OTHER FINANCING SOURCES
BUDGET AND ACTUAL
For the Year Ended December 31, 1995
1995
Actual Over
or Under(-) 1994
Budget Actual Budget Actual
CharQes for Services
General government charges $32,500 $22,075 ($10,425) $39,578
Public safety charges 18,100 31,806 13,706 30,476
Recreation fees 847,132 768,649 (78,483) 755,905
Total Charges for Services 897,732 822,530 (75,202) 825,959
Court Fines
Fines 112,000 178,263 66,263 113,573
Total Court Fines 112,000 178,263 66,263 113,573
Miscellaneous
Interest on investments 186,000 256,304 70,304 218,671
Forfeited drug money 3,597 3,597 12,481
Other 14,000 11,608 (2,392) 10,418
Total Miscellaneous 200,000 271,509 71,509 241,570
Total Revenues 11,394,173 11,079;876 (314,297) 10,645,742
Other Financino Sources
Operating transfers in:
Liquor Fund 100,000 100,000 0 100,000
Total Revenues and Other Sources 11,494,173 11,179,876 (314,297) 10,745,742
-54-
City of Brooklyn Center S
General Fund
SCHEDUL� OF EXPENDITURES BUDGET AND ACTUAL (Continued
For the Year Ended December 31, 1995 next page)
1995
Actual Over
or Under(-) 1994
Budget Actual Budget Actuai
General Government
Mayor and Council:
Personal services $32,540 $32,307 ($233) $31,709
Services and other charges 91,750 71,437 (20,313) 39,179
Total Mayor and Council 124,290 103,744 (20,546) 70,888
Charter Commission:
Services and other charges 9,500 2,634 (6,866) 2,768
Total Charter Commission 9,500 2,634 (6,866) 2,768
Administrative Office:
Personal services 374,232 375,603 1,371 289,194
Services and other charges 68,493 68,373 (120) 68,587
Capital outlay 9,200 7,910 (1,290)
Charged to other funds (27,725) (27,725) 0 (22,719)
Total Administrative Office 424,200 424,161 (39) 335,062
Elections and Voter Registration:
Personal services 28,986 18,417 (10,569) 39,962
Supplies 900 (900) 1,668
Senrices and other charges 7,450 3,321 (4,129) 5,685
Total Elections and Voter Registration 37,336 21,738 (15,598) 47,315
Assessor's Office:
Personal services 197,677 184,267 (13,410) 185,815
Supplies 3,000 1,422 (1,578) 985
Services and other charges 8,675 9,705 1,030 10,436
Capital outlay 0 1,154
Total Assessor's Office 209,352 195,394 (13,958) 198,390
Finance:
Personal services 366,327 364,287 (2,040) 350,254
Supplies 2,700 2,987 287 2,088
Services and other charges 1,820 1,728 (92) 1,582
Charged to other funds (197,394) (197,394} 0 (199,048)
Total Finance $173,453 $171,608 ($1,845) $154,876
55
City of Brooklyn Center S�2
General Fund
SCHEDULE OF EXPENDITURES BUDGET AND ACTUAL {Continued
For the Year Ended December 31, 1995 next page)
1995
Actual Over
or Under(-) 1994
Budget Actuai Budget Actual
General Government (continued)
Independent Audit.
Services and other charges $18,400 $18,130 ($270) $17,850
Total Independent Audit 18,400 18,130 (270) 17,850
Legal:
Services and other charges 204,700 183,725 (20,975) 174,709
Total Legal 204,700 183,725 (20,975) 174,709
Government Buildings:
Personal services 130,055 127,063 (2,992) 138,189
Supplies 25,250 26,908 1,658 20,465
Services and other charges 184,034 187,548 3,514 182,076
Capital outlay 19,584 16,491 (3,093) 15,663
Total Government Buildings 358,923 358,010 (913) 356,393
Data Processing:
Personal services 66,379 51,933 (14,446) 57,288
Supplies 9,746 4,057 (5,689) 7,310
Services and other charges 252,124 214,672 (37,452) 193,399
Capital outlay 91,427 95,053 3,626 86,628
Charged to other funds (13,814) (13,814) 0 (10,608)
Total Data Processing 405,862 351,901 (53,961) 334,017
Total General Government 1,966,016 1,831,045 (134,971) 1,692,268
Public Safetv
Police Protection:
Personal services 3,221,726 3,006,488 (215,238) 2,909,028
Supplies 62,449 62,579 130 78,233
Services and other charges 640,829 645,423 4,594 560,925
Capital outlay 86,373 77,327 (9,046) 58,769
Total Police Protection 4,011,377 3,791,817 (219,560) 3,606,955
Fire Protection:
Personal services 317,103 286,701 (30,402) 264,362
Supplies 41,856 41,052 (804) 29,080
Services and other charges 150,786 148,447 (2,339) 158,964
Capital outlay 15,450 17,722 2,272 39,887
Total Fire Protection $525,195 $493,922 ($31,273) $492,293
-56-
Cit of Brookl n Center
Y Y S_2
General Fund
SCHEDULE OF EXPENDITURES BUDGET AND ACTUAL (Continued
For the Year Ended December 31, 1995 next page)
1995
Actual Over
or Under(-) 1994
Budget Actual Budget Actual
Public Safetv (continued)
Protective Inspection:
Personal services $264,783 $252,158 ($12,625) $251,014
Supplies 1,950 1,093 (857) 3,382
Services and other charges 21,082 26,906 5,824 15,341
Capital out{ay 1,200 764 (436)
Total Protective Inspection 289,015 280,921 (8,094) 269,737
Emergency Preparedness:
Personal services 25,492 23,853 (1,639) 31,769
Supplies 1,400 1,169 (231) 765
Services and other charges 10,269 6,936 (3,333) 7,971
Total Emergency Preparedness 37,161 31,958 (5,203) 40,505
Total Pubiic Safety 4,862,748 4,598,618 (264,130) 4,409,490
Public Works
Engineering Department:
Personal services 537,826 357,791 (180,035) 315,313
Supplies 8,420 7,293 (1,127) 7,510
Services and other charges 24,762 28,765 4,003 22,924
CapitalOutlay 3,736 3,924 188
Charged to other funds (202,552) (190,114) 12,438 (195,949)
Total Engineering Dept. 372,192 207,659 (164,533) 149,798
Street Department:
Personal services 428,229 448,530 20,301 456,211
Supplies 156,000 141,885 (14,115) 142,988
Services and other charges 697,435 660,374 (37,061) 581,568
Capital outlay 6,530 4,796 (1,734)
Charged to other funds (100,000) (100,000) 0 (100,000)
Total Street Dept. 1,188,194 1,155,585 (32,609} 1,080,767
Total Public Works 1,560,386 1,363,244 (197,142) 1,230,565
Communitv Services
Social Services
Service and other charges 41,146 41,146 0 41,495
Total Social Services 41,146 41,146 0 41,495
Total Community Services $41,146 $41,146 $0 $41,495
5 7
City of Brooklyn Center S
General Fund
SCHEDULE OF EXPENDITURES BUDGET AND ACTUAL (Continued
For the Year Ended December 31, 1995 next page)
1995
Actual Over
or Under(-) 1994
Budget Actual Budget Actual
Parks and Recreation
Administration:
Personal services $0 $186,154
Supplies 0 8,084
Services and other charges 0 33,918
Total Administration 0 0 0 228,156
Adult Programs:
Personal services 247,620 241,181 (6,439) 140,005
Supplies 39,259 41,552 2,293 40,800
Services and other charges 153,813 157,082 3,269 142,015
Total Adult Programs 440,692 439,815 (877) 322,820
Teen Programs
Personal services 17,649 13,595 (4,054) 8,495
Supplies 572 1,061 489 1,301
Services and other charges 5,200 5,970 770 5,740
Total Teen Programs 23,421 20,626 (2,795) 15,536
Children's Programs:
Personal services 122,823 116,982 (5,841) 73,367
Supplies 12,150 12,543 393 11,646
Services and other charges 22,867 28,003 5,136 13,885
Total Children's Programs 157,840 157,528 (312) 98,898
General Programs:
Personal services 84,772 65,818 (18,954) 44,837
Supplies 790 722 (68) 308
Services and other charges 44,279 48,218 3,939 40,703
Total General Programs 129,841 114,758 (15,083) 85,848
Community Center:
Personal services 521,209 498,374 (22,835) 423,919
Supplies 89,000 87,561 (1,439) 66,905
Senrices and other charges 189,500 212,596 23,096 158,783
Capital outlay 11,000 11,494 494
Total Community Center $810,709 $810,025 ($684) $649,607
i
-58-
City of Brooklyn Center S
General Fund
SCHEDULE OF EXPENDITURES BUDGET AND ACTUAL (Continued from
For the Year Ended December 31, 1995 prior page)
1995
Actual Over
or Under(-) 1994
Budget Actual Budget Actual
Parks and Recreation fcontinuedl
Park Maintenance:
Personal services $450,795 $333,792 ($117,003) $300,382
Supplies 62,700 52,732 (9,968) 58,090
Services and other charges 296,951 289,023 (7,928) 291,703
Capital outlay 28,702 7,822 (20,880) 4,439
Total Park Maintenance 839,148 683,369 (155,779) 654,614
Total Parks and Recreation 2,401,651 2,226,121 (175,530) 2,055,479
Economic Develonment
Convention Bureau:
Services and other charges 209,625 209,576 (49) 199,982
Total Economic Development 209,625 209,576 (49) 199,982
Nondeoartmental
Expenditures not Charged to
Departments:
Personal services 0 1,224
Supplies 26,765 29,359 2,594 25,681
Services and other charges 375,511 260,388 (115,123) 255,064
Capital outlay 3,075 (3,075) 30,810
Total Nondepartmental 405,351 289,747 (115,604) 312,779
Total Expenditures $11,446,923 $10,559,497 ($887,426) $9,942,058 t
-59-
City of Brooklyn Center, Minnesota
SPECIAL REVENUE FUNDS
The Special Revenue Funds are established to account for revenues
derived from taxes and/or other specific revenue sources. These
resources are usually restricted by statute, City Charter or ordinance
to finance specific City functions or activities.
This fund type utilizes the modified accrual basis of accounting.
Revenues are recognized in the accounting period in which they become
available and measurable. Expenditures are recognized in the
accounting period in which the related liability is incurred.
Earle Brown Farm Tax Increment Financina District: This fund has the
authority to collect tax increments which are used for the historic
restoration of the Earle Brown Farm and for debt service payments of
bonds which also were issued for that purpose.
Diseased Tree Removal Fund: This Fund was established to account for
the collection of resources and expenditure of these resources for
diseased tree control. Costs are reimbursed by private property
owners, or the General Fund, depending upon where the tree was
located.
Communitv Development Block Grant Fund: The Fund was established to
account for funds received under Title I of the Housing and Community
Development Act of 1974. Transfers are made from this Fund to the
Economic Development Authority Fund where accounting for project costs
takes place.
6 0
City of Brooklyn Center B
Special Revenue Funds
COMBINING BALANCE SHEET
December 31, 1995
Earle Brown
Tax Incr. Diseased Community
Financing Tree Development Totals
District Removal Block Grant 1995 1 gg4
ASSETS
Cash and cash equivalents $5,411 $5,411 $3,844
Investments 50,571 50,571 49,345
Accounts receivable 364 364 280,572
Deferred special assessments 12,691 12,691 21,01Q
Delinquent special assessments 654 654 1,145
Due from other governments $463 $235,643 236,106 65,816
TOTAL ASSETS $463 $69,691 $235,643 $305,797 $421,732
I
I
LIABILITIES AND FUND BALANCES (DEFICITSI
rn
Liabilities
Accounts payable $1,373 $1,373 $19,414
Due to other governments g7,g73
Due to other funds $1,109,340 $235,643 1,344,983 1,690,160
Advances from other funds 698,143 698,143 698,143
Deferred revenue 13,345 13,345 22,155
Total Liabilities 1,807,483 14,718 235,643 2,057,844 2,527,845
I Fund Balances (Deficits)
Unreserved (1,807,020) 54,973 0 (1,752,047) (2,106,113)
Total Fund Balances (Deficits) (1,807,020) 54,973 0 (1,752,047) (2,106,113)
I
TOTAL LIABILITIES AND
FUND BALANCES (DEFICITS) $463 $69,691 $235,643 $305,797 $421,732
City of Brooklyn Center B_2
Special Revenue Funds (Continued next page)
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BAI.ANCES BUDGET AND ACTUAL
For the Year Ended December 31, 1995
Earle Brown Farm
Tax Increment District Diseased Tree Removal
Over Over
Under(-) Under(-)
Budget Actual Budget Budget Actual Budget
Revenues
Propertytaxes $1,391,724 $1,755,156 $363,432
Special assessments $17,000 $11,220 ($5,780)
Total PropertyTaxes 1,391,724 1,755,156 363,432 17,000 11,220 (5,780)
Intergovernmental:
Federal grants
Total Intergovernmental
Charges for services:
Fees 0 5,000 5,000 12,000 1,264 (10,736)
Total Charges for Services 0 5,000 5,000 12,000 1,264 (10,736)
Miscellaneous:
Investment earnings 1,000 3,114 2,114
Total Miscellaneous 1,000 3,114 2,114
Total Revenues 1,391,724 1,760,156 368,432 30,000 15,598 (14,402)
Exoenditures
Services and other charges 42,824 44,025 1,201 30,000 14,386 (15,614)
Interest 98,000 78,277 (19,723)
Total Expenditures 140,824 122,302 (18,522) 30,000 14,386 (15,6'14)
Excess of Revenues Over Expenditures 1,250,900 1,637,854 386,954 0 1,212 1,212
Other Financina Sources or Uses
Operating trensfers out (1,285,000) (1,285,000) 0
fxcess or Deficiency of Revenues and Other Sources
Over Expenditures and Other Uses (34,100) 352,854 386,954 0 1,212 1,212
Fund Balances (Deficits) January 1 (2,159,874) (2,159,874) 0 53,761 53,76'I 0
Fund Balances (Deficits) Oecember 31 ($2,193,974) ($1,807,020) $386,954 $53,761 $54,973 $1,212
-62-
1
City of Brooklyn Center 6=2
Special Revenue Funds (Continued from prior page)
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL
For the Year Ended December 31, 1995
Community Development
Block Grant Totals
Over Over
Under(-) 1995 1995 Under(-) 1994
Budget Actual Budget Budget Actual Budget Actual
Revenues
Propertytaxes $1,391,724 $1,755,156 $363,432 $1,514,763
Special assessments 17,000 11,220 (5,780) 14,888
TotalPropertyTaxes 1,408,724 1,766,376 357,652 1,529,651
Intergovernmental:
Federal grants $253,334 $264,641 $11,307 253,334 264,641 11,307 184,836
Totallntergovernmental 253,334 264,641 11,307 253,334 264,641 11,307 184,836
Charges for services:
Fees 12,000 6,264 (5,736) 18,413
Total Charges for Services 12,000 6,264 (5,736) 18,413
Miscellaneous:
Investment earnings 1,000 3,114 2,114 2,233
Total Miscellaneous 1,000 3,114 2,114 2,233
Total Revenues 253,334 264,641 11,307 1,675,058 2,040,395 365,337 1,735,133
Exoenditures
Services and other charges 72,824 58,411 (14,413) 91,429
Interest 98,000 78,277 (19,723) 81,656
Total Expenditures 170,824 136,688 (34,136) 173,085
Excess of Revenues Over Expenditures 253,334 264,641 11,307 1,504,234 1,903,707 399,473 1,562,048
Other Financina Sources or Uses
Operatingtransfersout (253,334) (264,641) (11,307) (1,538,334) (1,549,641) (11,30� (1,559,678)
Excess or Deficiency Revenues and Other Sources
Over Expenditures and Other Uses 0 0 0 (34,100) 354,066 388,166 2,370
Fund Balances (Oeficits) January 1 0 0 0 (2,106,113) (2,106,113) 0 (2,108,483)
Fund Balances (Deficits) December 31 $0 $0 $0 ($2,140,213) ($1,752,047) $388,166 ($2,106,113)
-63-
City of Brooklyn Center, Minnesota
DEBT SERVICE FUNDS
I The Debt Service Funds were established to account for the payment
(from taxes and other resources) of interest and principal on long-
term general obligation debt.
This fund type utilizes the modified accrual basis of accounting.
Revenues are recognized in the accounting period in which they become
available and measurable. Expenditures are recognized in the
accounting period in which the principal and interest are due.
The City's Debt Service funds included in this section are:
State Aid Street Bonds Debt Service Fund: This Fund accounts for the
accumulation of state aid allotments, for payment of principal and
interest on bonds issued in 1991 to finance a comprehensive
improvement and upgrading 69th Avenue North as a state aid route.
Tax Increment Bonds of 1985 1991 Funds: These Funds were
established to account for the accumulation of resources for payment
of principal and interest on general obligation bonds issued in 1985
and 1991 to finance the purchase and redevelopment of the historic
Earle Brown Farm in.Brooklyn Center.
Refundina Tax Increment Bonds of 1992 Fund: This fund was established
to account for the resources that will be used to advance refund the
Tax Increment Bonds of 1985.
Tax Increment Bonds of 1995 Fund: This Fund was established to
account for the accumulation of resources for payment of principal and
interest on general obligation bonds issued in 1995 to finance various
redevelopment projects within the City.
Refundina Bonds of 1987 Fund: This Fund was established to account
for the collecti.on of special assessments for the payment of principal
and interest on general obligation bonds. The bonds were sold during
1987 to refund Improvement Bonds of 1982.
Street Imnrovement Bonds of 1994 and 1995 Funds: These Funds were
established to account for the collection of special assessments and
property taxes for the payment of principal and interest on general
obligation improvement bonds. The bonds were sold during 1994 and
1995 to finance the City's neighborhood street improvement program.
-64-
C-1
City of Brooklyn Center
Debt Service Funds
COMBINING BALANCE SHEET
December 31, 1995
Refunding
Tax Tax Tax Tax Street Street
Increment Increment Increment Increment Refunding improvement Improvement
Bonds Bonds Bonds Bonds Bonds Bonds Bonds Totals
of 1985 of 1991 of 1992 of 1995 of 1987 of 1994 of 1995 1995 1994
ASSETS
Cash and cash equivalents $55,335 $55,395 $39,763 $18,461 $220,692 $60,744 $450,390 $194,684
Investments 517,174 517,733 371,640 172,543 1,579,090 1,051,402
Delinquent taxes Receivabfe 936 936
Special assessments receivabie:
Deferred 150,048 124,777 190,925 465,750 445,415
Delinquent 7,423 334 7,757 7,922
Due from other funds 78,835 78,920 56,651 26,301 240,707 259,299
Restricted Investments $4,180,920 4,180,920 4,182,719
rn
TOTALASSETS $651,344 $652,048 $4,180,920 $468,054 $374,776 $346,739 $251,669 $6,925,550 $6,141,441
LIABILITIES AND FUND BAIANCES
Liabilities
Deferred revenue $157,471 $126,047 $190,925 $474,443 $453,337
Total Liabilities 157,471 126,0�7 190,925 474,443 453,337
Fund Balances
Reserved for debt service $651,344 $652,048 $4,180,920 $468,054 217,305 220,692 60,744 6,451,107 5,688,104
Total Fund Balances 651,344 652,048 4,180,920 468,054 217,305 220,692 60,744 6,451,107 5,688,104
TOTAL LIABILITIES AND
FUND BALANCES $651,344 $652,048 $4,180,920 $468,054 $374,776 $346,739 $251,669 $6,925,550 $6,141,441
G2
City of Brookiyn Center I
Debt Service Funds
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
For the Year Ended December 31, 1995
Refunding
State Tax Tax Tax Tax Street Street
Aid Increment Increment Increment Increment Refunding Improvement Improvement
Street Bonds Bonds Bonds Bonds Bonds Bonds Bonds Totats
Bonds of 1985 of 1991 of 1992 of 1995 of 1987 of 1994 of 1995 1995 1994 I I
Revenues
Property taxes $70,214 �70,214
Special assessments a177,860 46,449 $57,367 281,676 $328,696
Investment earnings $9,829 �8,350 $217,823 $2,440 5,074 9,466 558 253,540 261,876
Total Revenues 9,829 8,350 217,823 2,440 182,934 126,129 57,925 605,430 590,572
Exaenditures
Principal $150,000 240,000 350,000 85,000 825,000 780,000
Interest 156,325 365,370 286,138 219,622 7,131 41,390 1,075,976 1,080,555, I
Fiscal agent fees 400 509 400 200 300 200 2,009 1,636
rn
°i Total Expenditures 306,725 605,879 636,538 219,622 200 92,131 41,690 200 1,902,985 1,862,191
i
Excess or Deficiency of Revenues
Over Expenditures (306,725) (596,050) (628,188) (1,799) 2,240 90,803 84,439 57,725 (1,297,555) (1,271,619)
Other Financinq Sources or Uses
Proceeds from sale of bonds 465,814 3,019 468,833 3,533
Operating transfers in 306,725 640,000 645,000 1,591,725 1,559,471
Total Other Financing Sources or Uses 306,725 640,000 645,000 465,814 3,019 2,060,558 1,563,004
Excess or Deficiency of Revenues and
Other Sources over Expenditures
I and Other Uses 0 43,950 16,812 (1,799) 468,054 90,8Q3 84,439 60,744 763,003 291,385
Fund Balances January 1 0 607,394 635,236 4,182,719 0 126,502 136,253 0 5,688,104 5,846,719
Equity Transfer In (Out) (q50,ppp�
Fund Balances December 37 $0 $651,344 $652,048 $4,180,920 $468,054 $217,305 $220,692 $60,744 56,451,107 $5,688,104
Min esota
City of Brooklyn Center, n
CAPITAL PROJECTS FUNDS
1 e a ds are established to account for all
Th Capit 1 Pro�ects Fun
resources used for the construction or acquisition of capital
facilities by the City except those financed by Enterprise Funds.
This fund type utilizes the modified accrual basis of accounting.
Revenues are recognized in the accounting period in which they become
available and measurable. Expenditures are recognized in the
accounting period in which the related liability is incurred.
The City's Capital Projects Funds included in this section are:
Housina and Redevelonment Authoritv Fund �H.R.A.): This fund has
authority to levy an ad valorem property tax for the purpose of
conducting housing and redevelopment projects. These projects are now
done in the E.D.A. Fund and all tax proceeds are transferred to that
fund.
Economic Develobment Authoritv Fund: This Fund was established to
account for the Economic Development Authority (E.D.A.) of Brooklyn
Center. The E.D.A. carries out activities which previously were done
by the H.R.A., plus it has authority to operate an enterprise. The
Earle Brown Heritage Center operates under this authority and a
statement of its operations can be found in the enterprise fund
section of this report. The E.D.A. also does redevelopment and
housing projects, funded by transfers from the C.D.B.G. and H.R.A.
funds.
Capital Improvements Fund: This Fund was established in 1968 to
provide funds, and to account for the expenditure of such funds, for
major capital outlays including, but not be limited to, construction
or acquisition of major permanent facilities having a relatively long
life; and/or to reduce debt incurred for capital outlays. The
financing sources of the Fund include ad valorem taxation, transfers
from other Funds, issuance of bonds, federal and state grants, and
investment earnings.
Municibal State Aid for Construction Fund: This Fund was established
to account for the state allotment of gasoline tax collections used
for transportation related construction projects.
Special Assessment Construction Fund: This Fund was established to
account for the resources and expenditures required for the
acquisition and construction of �capital facilities or improvements
financed wholly or in part by special assessments levied against
benefitted properties.
-67-
D-1
City of Brooklyn Center
Capital Projects Funds
COMBINING BALANCE SHEET
December 31, 1995
Municipal
Economic State Aid Special
Development Capital for Assessment Totals
Authority Improvements Construction Construction
Fund Fund Fund Fund 1995 1994
ASSETS
Cash and cash equivalents $392,649 $408,948 $261,321 $53,106 $1,116,024 $580,181
Investments 3,669,811 3,822,152 2,442,382 496,341 10,430,686 7,448,015
Accounts receivable 300 30,684 30 69,192
Delinquenttaxes receivable 12,158 12,158 9,648
Special assessments:
Deferred 905,638 905,638 1,018,095
Delinquent 57,978 57,978 46,181
Due from other funds 932,748 582,626 372,303 1,887,677 1,920,517
Due from other governments 1,465,341 1,465,341 1,968,764
Advance to other funds 1,297,672 593,069 1,890,741 1,902,053
Restricted investments 1,000,000 1,000,000 1,000,000
TOTAL ASSETS $6,007,666 $6,142,082 $5,134,416 $1,513,063 $18,797,227 $15,962,646
UAB1L171ES ANO FUND BAL4NCES (DEFfCITSI
Liabilities
Accounts payable $4,350 $2,212 $2,304 $8,866 $72,258
Contracts payable 120,258 $194,475 32,399 347,132 127,485
Dueto other funds 1,050,477 1,050,477 1,144,791
Accrued salaries and wages 2,767 165 172 1036 4,140 4,585
Accrued vacation and sick pay 21,970 21,970 18,640
Deferred revenue 12,158 1,456,341 963,616 2,432,115 3,042,688
Tota1 Liab�lities 41,245 122,635 1,650,988 2,049,832 3,864,700 4,410,447
Fund Balances (Deficits)
Reserved:
Bond proceeds 3,477,619 3,477,619
Dedicated housing account 1,000,000 1,000,000 1,000,000
Advances to other funds 1,297,672 593,069 1,890,741 1,902,053
Unexpended appropriations 223,951
Unreserved 1,488,802 4,721,775 2,890,359 (536,769) 8,564,167 8,426,195
Total Fund Balances (Deficits) 5,966,421 6,019,447 3,483,428 (536,769) 14,932,527 11,552,199
TOTA� LIABILITIES AND
FUND BALANCES (DEFICITS) $6,007,666 $6,142,082 $5,134,416 $1,513,063 $18,797,227 $15,962,646
-68-
Ciry of Brooklyn Center
Capital Projects Funds
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUNO BALANCES
For the Year Ended December 31, 1995
Housing Municipal
and Economic State Aid Special
Redevelop Development Capital for Assessment
Authority Authority Improvements Construction Construction Totals
Fund Fund Fund Fund Fund 1995 1994
Revenues
Propertytaxes $118,434 5171,717 5290.151 5238,547
Special assessments $363,472 363,472 252,510
Intergovemmental 18,304 $39,553 $1,268,540 16,000 1,342,397 722,098
Investment earnings 142,218 370,449 177,310 12,296 702,273 694,490
Miscellaneous 12,845 3,975 16,820 27,831
Total Revenues 136,738 326,780 413.977 7,445,850 391,768 2.715,113 1,935,476
Exoenditures
Pe►sonai services 161,950 57,522 21,498 109,374 350,344 358,018
Supplies 643 4,385 16 2,379 7,423 3,203
Services and other charges 360,338 95,917 269,163 111,553 836,971 651,692
Capital ouUay 500,186 1,138,384 579,714 603,036 2,821,320 1,449,688
Interest 77 92,486 92,563 109,132
Totai Expenditures 1,023,194 1,296,208 870,391 918,828 4,108.621 2,571,733
Excess or Deficiency of Revenues
Over Expenditures 136,738 (696,414) (882,231) 575,459 (527,060) (1,393,508) (636,25n
Other Finaneina Sourees or Uses!-1
Proceeeds from sale of bonds 4,045,280 770,640 4,815,920 824,980
Operating transfers in 401,379 7,357 408,736 1,014,519
Operating transfers out (136,738) (314,082) (450,820) (1,139,154)
Total Other Financing Sources or Uses(-) (136,738) 4,446,659 (314,082) 777,997 4,773,836 700,345
Excess or Deficiency of Revenues a�d Other
Financing Sources Over Expenditures and
OtherFinancingUses 0 3,750,245 (882,231) 261,377 250,937 3,380,328 64,088
Fund Balance (Deficits) January 1 2,216,176 6,901,678 3,222,051 (787,706) 11,552,199 11,496,189
Equity Trensfers In (Out) (g,p7gj
Fund Balance (Deficits) December 31 $0 $5,966,421 $6,019,447 $3,483,428 (5536,769) $14,932,527 �11,552,199
-69-
City of Brooklyn Center D
Housing and Redevelopment Authority Fund
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES lN
FUND BALANCE BUDGET AND ACTUAL
For the Year Ended December 31, 1995
1995
Acival Over
or Under(-) 1994
Budget Actual Budget Actual
Revenues
Property taxes $118,670 $118,434 ($236) $115,104
Intergovemmental 18,304 18,304 0 17,835
Totai Revenues 136,974 136,738 (236) 132,939
Other Financinq Uses
Operating transfers out 136,974 136,738 (236) 132,939
Excess or Deficiency of
Revenues over Other Financing Uses 0 0 0 0
Fund Balance January 1 0 0 0 0
Fund Balance December 31 $0 $0 $0 $0
-70-
City of Brooklyn Center D_4
Economic Devefopment Authority Fund
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCE BUDGET AND ACTUAL
For the Year Ended December 31, 1995
1995
Actual Over
or Under(-) 1994
Budget Actual Budget Actual
Revenues
Property taxes $172,857 $171,717 ($1,140) $123,443
Intergovemmental 305,306
Investment Earnings 62,500 142,218 79,718 96,226
Misceilaneous 23,500 12,845 (10,655) 26,786
Total Revenues 258,857 326,780 67,923 551,76i
Exqenditures
Personal Services 160,596 161,950 1,354 151,491
Supplies 2,300 643 (1,657) 932
Services and other charges 400,222 360,338 (39,884) 362,609
CapitalOutlays 4,131,327 500,186 (3,631,141) 214,707
Interest 77 77 16
Total Expenditures 4,694,445 1,023,194 (3,671,251) 729,755
Excess or Deficiency of
1 Revenues over Expenditures (4,435,588) (696,414) 3,739,174 (177,994)
Other Financinp Sources
Sale of Bonds 4,045,280 4,045,280 0
Operating transfers in 390,308 401,379 11,071 787,775
Total Other Financing Sources 4,435,588 4,446,659 11,071 787,775
Excess or Deficiency of
Revenues and Other Financing Sources
Over Expenditures 0 3,750,245 3,750,245 609,781
Fund Balance January 1 2,216,176 2,216,176 0 1,614,473
Equity Transfer Out (8,078)
Fund Balance December 31 $2,216,176 $5,966,421 $3,750,245 $2,216,176
71
S-3
City of Brooklyn Center
Capital Improvements Fund
PROJECT-LENGTH SCHEDULE OF CONSTRUCTION PROJECTS
From BeQinnina to December 31. 1995
Project Over(-) Under
1995 to Date Expended
Type of Project Appropriations Expenditures Expenditures Appropriations
Fire training facility $95,000 $20,000 $70,000 $25,000
Central garage improvements 1,133,624 723,813 1,222,624 (89,000)
Interim city hall remodelling 440,000 363,216 387,670 52,330
Park playground equipment 157,711 109,323 193,474 (35,763)
N Misc. curbing, excavation, removals 44,348 42,396 42,396 1,952
ADA trails,curb removals, ramps 44,638 37,460 39,849 4,789
Totals $1,915,321 $1,296,208 $1,956,013 ($40,692)
I
r
S-4
City of Brooklyn Center I,
Municipal State Aid Construction Fund
PROJECT-LENGTH SCHEDULE OF CONSTRUCTION PROJECTS
From Beainnina to December 31. 1995
Project Over(-) Under
1995 to Date Expended
Project Appropriation Expenditures Expenditures Appropriations I i
Humboldt Avenue improvements 507,486 369,532 401,451 106,035
69th Avenue soil correction 997,737 3,417 969,708 28,029
Shingle Creek Parkway overlay 430,620 102,817 413,022 17,598
Misc. sidewalk replacement 16,917 15,931 16,751 166
69th Ave., Shingle Creek Parkway to Dupont Ave. 1,712,926 54,882 56,684 1,656,242 I
Brooklyn Boulevard street improvement 207,090 162,163 168,991 38,099
Woodbine Neighborhood street improvements 75,740 134,760 134,760 (59,020)
James/Knox/54th Avenue improvements 26,889 26,889 (26,889)
w
Totals $3,948,516 $870,391 $2,188,256 $1,760,260
I
S-5
City of Brooklyn Center
Special Assessment Construction Fund
PROJECT-LENGTH SCHEDULE OF CONSTRUCTION PROJECTS
From Beainnina to December 31. 1995
Project Over(-) Under
1995 to Date Expended
Type of Project Appropriations Expenditures Expenditures Appropriations
James, Knox 54th Ave. street improvements $232,286 ($1,399) $231,213 $1,073
57th Ave. street improvements 144,905 26,189 30,763 114,142
Humboldt Aven�e street improvements 50,703 37,628 50,703
Northwest area street improvements 596,946 (8,295) 594,101 2,845
Woodbine neighborhood street improvements 917,675 741,053 757,485 160,190
Orchard Lane East street improvements 925,700 40,587 40,587 885,113
Logan, James, Knox Avenue improvements 590,615 15,613 15,613 575,002
Totals $3,458,830 $851,376 $1,720,465 $1,738,365
City of Brooklyn Center, Minnesota
t ENTERPRISE FUNDS
The Enterprise Funds were established to account for the financing of
self supporting activities of the City which render services on a user
charge basis to the general public.
Revenues and expenses in these Funds are recognized on the accrual
basis of accounting. Revenues are recognized in the accounting period
in which they are earned and become objectively measurable. Expenses
are recognized in the period incurred, if objectively measurable.
The City's Enterprise Funds included in this section are:
Municipal Liauor Fund: This Fund accounts for the operations of the
City's three municipal off-sale liquor stores.
Golf Course Fund: This fund accounts for operations of Centerbrook
Golf Course, a 9 hole, par 3 course owned by the City.
t Earle Brown Heritaae Center Fund: This fund accounts for the
operation of a pioneer farmstead which has been historically preserved
and restored as a modern multipurpose facility. Its convention center
can host conferences, trade shows, and concerts seating 1,000 people
in either banquet or theater style. The "Inn On The Farm" is a bed
and breakfast with ten rooms available to complement convention
activities or be rented individually. Earle�'s, a unique special
occasion restaurant, is also located at the "Inn on the Farm".
Several of the barns have been restored as unique office settings
which have found a niche in the market.
Recvclina and Refuse Fund: This fund accounts for the operation of
a state mandated recycling program. Expansion into refuse collection
will take place only when there is a clear advantage to be achieved
by it.
Water Utilities Fund: This Fund accounts for the provision of water
to customers. Administration, wells, water storage, and distribution
are included.
Sanitarv Sewer Fund: This Fund accounts for the collection and pumping
of sanitary sewage through a system of sewer lines and lift stations.
Sewage is treated by the Metropolitan Council Environmental Services
whose fees represent about 75% of this fund's expenses.
Storm Drainaae Fund: This Fund accounts for the operations and
improvements of the storm water drainage system. It incorporates not
only the storm sewer system, but also water structures such as holding
ponds and facilities to improve water quality. Fees are based upon
the amount of water running off a property and vary with both size and
absorption characteristics of the parcel.
-75-
City of Brooklyn Center E_1
Enterprise Funds (Continued ne�R page)
COMBINING BALANCE SHEET
December 31, 1995
E. Brown
Municipal Golf Heritage Recycling Water Sanitary Storm
Liquor Gourse Center Refuse Utility Sewer Drainage Totals
ASSETS Fund Fund Fund Fund Fund Fund Fund 1995 1994
Current Assets
Cash and cash equivalents $1,945 $478 $143,522 $6,668 $478,047 $356,088 $50,825 $1,037,573 $909,604
Investments 62,324 4,467,974 3,328,099 475,023 8,333,420 8,012,733
Accounts receivabie net 8,693 315,029 11,269 66,630 144,536 41,901 588,058 435,406
Accrued revenue 28,545 131,912 298,823 118,796 578,076 535,332
Special assessments receivable:
Deferred 49,394 5,666 76,362 131,422 61,886
Delinquent 3,148 3,148 3,590
Due from other govemments 149,789 461,805 611,594 940,091
inventories 301,000 7,535 29,093 18,961 356,589 328,575
Prepaid expenses 6,468 17,438 119,305 143,211 143,157
i
V Total Current Assets 318,106 8,013 505,082 108,806 5,216,066 4,402,306 1,224,712 11,783,091 11,370,374
rn
Restricted Assets
Revenue bond construction account
Due from other governments 473,344
Total Restricted Assets 473,344
Fixed Assets
Mains and lines 8,715,706 7,244,920 2,495,297 18,455,923 15,971,551
Structures 327,595 301,875 9,555,862 4,439,590 1,895,669 16,520,591 16,119,716
Equipment 143,013 32,636 1,040,729 26,887 23,223 6,736 1,273,224 1,256,114
Land 107,405 1,391,711 925,000 23,938 3,388 287,158 2,738,600 2,738,600
Land improvements 12,904 77,450 2,600 92,954 84,981
590,917 1,803,672 11,521,591 13,208,721 9,167,200 2,789,191 39,081,292 36,170,962
Less: Aliowance for depreciation 245,317 108,030 1,823,424 4,267,293 2,410,845 6,789 8,861,698 8,203,431
Total Net FixedAssets 345,600 1,695,642 9,698,167 8,941,428 6,756,355 2,782,402 30,219,594 27,967,531
TOTALS $663,706 $1,703,655 $10,2Q3,249 $108,806 $14,157,494 $11,158,661 $4,007,114 $42,002,685 $39,811,249
I
I
E-1
(Continued from
E. Brown prior page)
Municipai Golf Heritage Recycling Water Sanitary Storm
Liquor Course Center 8 Refuse Utility Sewer Drainage Totals
Fund Fund Fund Fund Fund Fund Fund 1995 1994
LIABILITIES AND FUND EQUITY
Current Liabilities
Accounts payable $81,794 $2,308 $153,032 $500 $18,525 $19,435 $1,934 $277,528 $383,627
Contracts payable 26,390 866,875 59,299 952,564
Accrued salaries payabie 5,783 640 23,795 5,021 2,131 393 37,763 32,321
Accrued vacation and sick pay 23,708 1,530 13,760 13,461 52,459 48,399
Accrued interest payabte 37,760 37,760 37,760
Due to other funds 595,755 595,755 389,205
Current portion of long-term debt 24,828 24,828 22,812
Total Current Liabilities 136,113 4,478 786,342 500 63,397 888,441 99,386 1,978,657 914,124
Current Liabilities oavable from
Resticted Assets
v Accounts Payable 54,710
v
i Lona-Term Liabilities
Bonds payable 1,830,000 1,830,000 1,830,D00
Advances from other funds 111,344 1,161,500 1,272,844 1,286,172
Total Long-term Liabilities 111,344 1,161,500 1,830,000 3,102,844 3,116,172
Fund Eau�
Contributions 636,886 9,548,016 4,997,510 5,668,426 146,963 20,997,801 27,187,660
Retained earnings (Deficits)
Reserved:
Debt Service 198,315 198,315 90,625
Special assessments 52,542 5,666 76,362 134,570 65,476
Unreserved 416,249 (99,209) (131,109) 108,306 9,044,045 4,596,128 1,656,088 15,590,498 14,382,482
Total Retained Earnings (Deficits) 416,249 (99,209) (131,109) 108,306 9,096,587 4,601,794 1,930,765 15,923,383 14,538,583
Totai Fund Equity 416,249 537,677 9,416,907 108,306 14,094,097 10,270,220 2,077,728 36,921,184 35,726,243
I TOTALS $663,706 $1,703,655 $10,203,249 $108,806 $14,157,494 $11,158,661 34,007,114 $42,002,685 $39,811,249
City of Brooklyn Center E_2
Enterprise Funds (Continued next page)
COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN RETAINED EARNINGS
For the Year Ended December 31, 1995
E. Brown
Municipal Golf Heritage Recycling Water Sanitary Storm
Liquor Course Center Refuse Utility Sewer Drainage Totals
Ooeratina Revenues Fund Fund Fund Fund Fund Fund Fund 1995 1994
Sales and user fees $2,696,776 $301,588 $2,385,465 $212,179 $1,048,834 $2,282,067 $788,897 $9,715,806 $9,248,796
Cost of sales 2,043,179 36,102 341,911 2,421,192 2,413,423
Net Operating Revenues 653,597 265,486 2,043,554 212,179 1,048,634 2,282,067 788,897 7,294,614 6,835,373
Oaeratina Exaenses
Personai services 365,502 127,233 1,258,271 376,422 186,002 102,708 2,416,138 2,246,599
i Suppiies 13,063 21,471 152,491 87,234 11,110 25 285,394 281,683
Otherservices 41,659 46,757 493,619 214,909 185,115 1,564,506 80,141 2,626,706 2,414,671
Insurance 13,941 7,988 36,255 308 12,981 5,774 2,116 79,363 97,067
i Utilities 23,683 12,566 137,229 151,405 19,186 344,069 343,677
Rent 32,584 54,134 86,718 69,858
Depreciation 20,045 15,990 347,505 241,251 114,132 5,471 744,394 721,297
Totai Operating Expenses 510,477 232,005 2,479,504 215,217 1,054,408 1,900,710 190,461 6,582,782 6,174,852
Operating Income (Loss} $143,120 $33,481 ($435,950) ($3,038) ($5,574) $381,357 $598,436 $711,832 $660,521
I
I
r
E-2
(Continued from
prior page)
E. Brown I
Municipal Goif Heritage Recycling Water Sanitary Storm
Liquor Course Center Refuse Utility Sewer Drainage Totais
Fund Fund Fund Fund Fund Fund Fund 1995 1994
Nononeratina Revenues or Expenses(-1
Investment earnings $2,069 $5,632 $290,593 $238,419 $72,881 $609,594 $518,661
Special assessments:
Service hookups delinquencies 8,883 5,311 14,194 16,776
Other revenue 4,924 2,660 7,584 2,153
Gain (loss) on disposal of fixed assets ($493) ($347) (494) (1,041) (2,375) (11,541
Interest and fiscal agent fees (12,639) (57,634) (31,653) (90,925 192,851
(123,465)
Nonoperating Totals (5,646) (58,127) (32,000) 5,632 30t,642 242,689 (18,044) 436,t46 402,584
i
Income Before Operating Transfers 137,474 (24,646) (467,950) 2,594 296,068 624,046 580,392 1,147,978 1,063,105
Operating Transfers In 124,842
Operating Transfers Out (100,000) (�pp,ppp� ��pp,ppp�
Net Income (Loss) 37,474 (24,646) (467,950) 2,594 296,068 624,046 580,392 1,047,978 1,087,947
Depreciation on contributed assets
that reduces contributed capital 336,822 336,822 338,532
Retained Earnings (Deficits) Jan. 1 378,775 (74,563) 19 105,712 8,800,519 3,977,748 1,350,373 14,538,583 13,675,883
Equity Transfer from Contributed Capital 55,320
Equity Transfer In (Out) �g�g,pgg�
Retained Earnings (Deficits) Dec. 31 $416,249 ($99,209) ($131,109) $108,306 $9,096,587 34,601,794 $1,930,765 315,923,383 a14,538,583
City of Brooklyn Center E_3
Enterprise Funds (Continued next page)
COMBINING STATEMENT OF CASH FLOWS
For the Year Ended December 31, 1995
E. Brown
Municipal Golf Heritage Recycling Water Sanitary Storm
Liquor Course Center 8 Refuse Utility Sewer Drainage Totals
Cash flows from ooeratina activities: Fund Fund Fund Fund Fund Fund Fund 1995 1994
Operating income(loss) $143,120 $33,481 ($435,950) ($3,038) ($5,574) $3$1,357 $598,436 $711,832 $660,521
Adjustments to reconcile operating income
(loss) to net cash provided by (used for)
operating activities:
Depreciation 20,045 15,990 347,505 241,251 114,132 5,471 744,394 72t,297
Changes in assets and liabilities:
Receivables (6,581) (120,090) (5,158) 1,023 (1,765) 669,922 537,351 (1,179,037)
Inventories (16,966) (973) (8,184) (1,891) (28,014) (8,785)
Prepaid expenses (3,566) 11,041 (7,529) (54) 10,185
Payables (27,019) (2,998) 10,110 (65) 4,675 814,535 (7,483) 791,755 34,125
Accrued expenses (12) 1,097 7,699 (480) 1,049 149 9,502 (8,413)
Accrued interest payable 37,760
Other nonoperating income 4,924 11,543 5,311 21,778 18,929
p Net cash provided by (used for)
operating activities 113,945 46,597 (187,869) (8,261) 250,547 1,307,090 1,266,495 2,788,544 286,582
Cash flows from noncaoital financina activities�
Proceeds from borrowings on advance 11,500 11,500 70,000
Proceeds from borrowings on due to other funds 206,550 206,550 83,726
Principal repayments on advance (22,813) (22,g�3� (2p,ggp�
Interest paid on advance from other funds (12,639) (57,634) (70,273) (70,556)
Interest paid on due to other funds (31,653) (31,653) (22,701)
Equity transfer to Central Garage Fund (qp2,g�
Operating transfers in 124,842
Operating transfers out (100,000) (100,000) (100,000)
Net cash provided by (used forj
noncapitai financing activities ($135,452) ($46,134) $174,897 $0 $0 $0 $0 ($6,689
($338,560)
I
�I
E-3
(Continued from
prior page)
E. Brown
Municipal Golf Heritage Recyciing Water Sanitary Storm
Liquor Course Center Refuse Utility Sewer Drainage Totals
Fund Fund Fund Fund Fund Fund Fund 1995 1994 I
Cash flows from capital and related 'I
financina activities:
Proceeds from bond sale $1,830,000
Capital contributions $146,963 $146,963
Acqu'rsition and construction of
capital assets ($23,105) ($3,314) ($81,123) ($350,265) ($1,280,515) (1,260,509) (2,998,831) (2,154,965)
Interest paid on revenue bonds (90,925) (90,925) (30,208)
Net cash provided by (used for) capital
and related financing activities (23,105) (3,314) (81,123) $0 (350,265) (1,280,515) (1,204,471) (2,942,793) (355,173)
Cash flows from investina activities
Investments purchased (42,290) (3,383,684) (2,634,374) (466,072) (6,526,420) (1,777,024)
i investments sold or matured 46,411 3,327,212 2,478,370 353,740 6,205,733 1,857,406
Interest on investments 2,069 5,632 290,593 238,419 72,881 609,594 518,661
i Net cash provided by (used for)
investingactivities 2,069 0 0 9,753 234,121 82,415 (39,451) 288,907 599,043
Net increase (decrease) in cash and
cash equivalents (42,543) (2,851) (94,095) 1,492 134,403 108,990 22,573 127,969 191,892
Cash and cash equivalents at
beginning of the year 44,488 3,329 237,617 5,176 343,644 247,098 28,252 909,604 717,712
Cash and cash equivalents at
end of the year $1,945 $478 $143,522 $6,668 $478,047 $356,088 $50,825 $1,037,573 b909,604
NONCASH FINANCING, CAPITAL, AND INVESTING ACTIVITIES
I Gain (Loss) on disposal of fixed assets ($493) ($347) ($494) (a1,041) ($2,375) ($656)
Gain (Loss) resulting from transfer of
fixed assets to the Central Garage Fund ($10,885)
Fixed Assets transferred to Central
Garage Fund, net of depreciation a216,188
I
E-4
City of Brooklyn Center
Municipal Liquor Fund
COMPARATIVE STATEMENT OF REVENUES, EXPENSES
AND CHANGES IN RETAINED EARNiNGS
For the Year Ended December 31, 1995
1995 1994
Sales
Liquor $878,251 $867,557
Wine 267,177 265,032
Beer 1,378,541 1,397,958
Soft drinks 56,404 55,944
Other merchandise 116,403 111,882
Total Sales 2,696,776 2,698,373
Less: Cost of Sales 2,043,179 2,023,603
Net Operating Revenues 653,597 674,770
Operatinp Expenses
Personaf services 365,502 369,660
Supplies 13,063 8,551
Other services 41,659 61,755
Insurance 13,941 13,318
Utilities 23,683 22,234
Rent 32,584 35,410
Depreciation 20,045 15,717
Total Operating Expenses 510,477 526,645
Operating Income 143,120 148,125
Nonoperatina Revenue or Ex�ense(-)
Investment eamings 2,069 4,036
Other revenue 4,924 650
Gain on disposal of fixed assets 716
Interest and fiscal agent fees (12,639) (14,491)
Total Nonoperating (5,646) (9,089)
O eratin Transfers to General Fund 100 000 100 000
P 9
Net Income 37,474 39,036
Retained Earnings January 1 378,775 354,288
Equity Transfer In (Out) (14,549)
Retained Earnings December 31 $416,249 $378,775
-82-
E-5
City of Brooklyn Center
Goif Course Fund
COMPARATIVE STATEMENT OF REVENUES, EXPENSES
AND CHANGES IN RETAINED EARNINGS
For the Year Ended December 31, 1995
1995 9994
Oneratina Revenues
Green fees $227,233 $232,862
Rentals 8,683 8,542
Leagues 7,577 10,340
Golf lessons 11,135 10,390
Concessions 21,689 18,237
Merchandise 22,132 18,909
Pop machine 2,734 2,394
Miscellaneous 405 376
Total �perating Revenues 301,588 302,050
Less: Cost of Sales 36,102 34,550
Net Operating Revenues 265,486 267,500
Operatinp Expenses
Personal services 127,233 124,681
Supplies 21,471 20,713
Other services 46,757 46,761
Insurance 7,988 7,987
Utilities 12,566 11,079
Depreciation 15,990 13,659
Total Operating F�cpenses 232,005 224,880
Operating Income 33,489 42,620
Nonoperatin4 Revenue or Expense(-)
Loss on disposal of fixed assets (493) (10,952)
Interest and fiscal agent fees (57,634) (56,065)
Total Nonoperating (58,127) (67,017)
Nef Loss (24,646) (24,397)
Retained Eamings (Deficit) January 1 (74,563) 4,856
Equity Transfer from Contributed Capital 55,320
Equity Transfer In (Out) (110,342)
Retained Earnings (Deficit) December 31 ($99,209) ($74,563)
-83-
E-6 I
City of Brooklyn Center
Earle Brown Heritage Center Fund
COMPARATIVE STATEMENT OF REVENUES, EXPENSES
AND CHANGES IN RETAINED EARNINGS
For the Year Ended December 31, 1995
1996 1994
Ooeratino Revenues
Conventions $702,466 $592,208
Catering 1,249,546 1,240,038
Inn on the Farm 321,344 299,539
Office Rents 112,109 116,326
Total Operating Revenues 2,385,465 2,248,111
Less: Cost of Sales 341,911 355,270
Net Operating Revenues 2,043,554 1,892,841
Oneratina Exoenses
Personal services 1,258,271 1,144,161
Supplies 152,491 150,743
Other services 493,619 478,017
Insurance 36,255 41,202
Utilities 137,229 141,510
Rent 54,134 34,448
Depreciation 347,505 343,328
Totat Operating Expenses 2,479,504 2,333,409
Operating Loss (435,950) (440,568)
Nonoqeratina Revenue or Expense(-1
Loss on disposal of fixed assets (347) (105)
Interest and fiscal agent fees (31,653) (22,701)
Total Nonoperating (32,000) (22,806)
Operating Transfers In 124,842
Net Loss (467,950) (338,532)
Depreciation on contributed assets that
reduces contributed capital 336,822 338,b32
Retained Earnings January 1 19 19
Retained Earnings (Deficit) December 31 ($131,109) $19
-84-
I E_�
City of Brooklyn Center
Recycling 8� Refuse Fund
COMPARATIVE STATEMENT OF REVENUES, EXPENSES
AND CHANGES IN RETAINED EARNINGS
For the Year Ended December 31, 1995
1995 1994
Operatina Revenues
Recycling service fees $212,179 $134,740
Operatina Expenses
Supplies 554
Other services 214,909 117,447
Insurance 308 871
Total Operating Expenses 215,217 118,872
Operating Income (Loss) (3,038) 15,868
Nonoperatina Revenues
Investment earnings 5,632 5,137
Total Nonoperating 5,632 5,137
Net Income 2,594 21,005
Retained Earnings January 1 105,712 84,707
Retained Earnings December 31 $108,306 $105,712
-85-
City of Brooklyn Center E-8
Water Utility Fund
COMPARATIVE STATEMENT OF REVENUES, EXPENSES
AND CHANGES IN RETAINED EARNINGS
For the Year Ended December 31, 1995
1995 1994
Operatinp Revenues
Service to customers $968,257 $962,369
Sale of ineters 23,768 33,140
Penalties 56,809 58,180
Total Operating Revenues 1,048,834 1,053,689
Operatinq Expenses
Personal services 376,422 319,984
Supplies 87,234 79,614
Contractual services 185,115 160,136
Insurance 12,981 12,277
Utilities 151,405 148,962
Depreciation 241,251 236,850
Total Operating Expenses 1,054,408 957,823
Operating Income (Loss) (5,574) 95,866
Nonoqeratinq Revenues or Expenses(-1
Investment earnings 290,593 266,561
Special assessments (for hookups definquencies) 8,883 16,177
Other 2,660 1,431
Loss on disposal of fixed assets (494) (5,063)
Total Nonoperating 301,642 279,106
Net Income 296,068 374,972
Retained Earnings January 1 8,800,519 8,572,569
Equity Transfer In (Out) (147,022)
Retained Eamings December 31 $9,096,587 $8,800,519
-86-
City of Brooklyn Center E-9
Sanitary Sewer Fund
COMPARATIVE STATEMENT OF REVENUES
AND CHANGES IN RETAINED EARNINGS
For the Year Ended December 31, 1995
1995 1994
Operatina Revenues
Service to customers $2,282,067 $2,126,822
Operatinq Expenses
Personal services 186,002 185,622
Supplies 11,110 18,330
Contractual services 137,176 59,066
Metropolitan Council Environmental Services 1,427,330 1,395,261
Insurance 5,774 19,312
Utilities 19,186 19,892
Depreciation 114,132 110,855
Total Operating Expenses 1,900,710 1,808,338
Operating Income 381,357 318,484
Nonoqeratinq Revenues
Investment earnings 238,419 202,997
Special assessments (for hookups delinquencies) 5,311 599
Other 72
Gain (loss) on disposal of fixed assets (1,041) 11,291
Total Nonoperating 242,689 214,959
Net Income 624,046 533,443
Retained Earnings January 1 3,977,748 3,663,133
Equity Transfer In (Out) (218,828)
Retained Eamings December 31 $4,601,794 $3,977,748
87
City of Brooklyn Center E-10
Storm Drainage Fund
COMPARATIVE STATEMENT OF REVENUES, EXPENSES
AND CHANGES IN RETAINED EARNINGS
For the Year Ended December 31, 1995
1995 1994
Operatinq Revenues
Service to customers $788,897 $685,011
Operatin4 Expenses
Personal services 102,708 102,491
Supplies 25 3,178
Contractual services 80,141 96,228
Insurance 2,116 2,100
Depreciation 5,471 888
Total Operating Expenses 190,461 204,885
Operating Income 598,436 480,126
Nonoperatin4 Revenues or Exnense(-)
Investment earnings 72,881 39,930
Loss on disposal of fixed assets (7,428)
Interest and fiscal agent fees (90,925) (30,208)
Total Nonoperating (18,044) 2,294
Net Income 580,392 482,420
Retained Earnings January 1 1,350,373 996,311
Equity Transfer In (Out) (128,358)
Retained Earnings December 31 $1,930,765 $1,350,373
-88-
City of Brooklyn Center, Minnesota
INTERNAL SERVICE FUNDS
Internal Service Funds are used to account, on a cost reimbursement
basis, for the financing of goods or services provided by one
department to other departments of the City.
Revenues and expenses in these funds are recognized on the accrual
basis of accounting. Revenues are recognized in the accounting period
in which they are earned and become measurable. Expenditures are
recognized in the accounting period in which they are incurred.
Public Emplovees Retirement Fund: This fund provides certain health
care insurance benefits for City employees who retire before age 65.
Substantially all of the City's full time employees may be eligible
for those benefits from the time they qualify for an unreduced PERA
pension until they reach age 65 or become eligible for medicare.
Currently investment earnings are sufficient to provide benefits. In
the event that future costs would exceed earnings, other funds would
be charged for the costs associated with their employees.
Central Garaae Fund: This fund was established to account for the
acquisition and maintenance of all City vehicles and rolling stock
equipment. Vehicle and equipment maintenance, repair, and replacement
will be provided from rental rates which the Central Garage charges
City operating departments for use of the equipment.
r
-89-
F-�
City of Brooklyn Center
Intemal Service Funds
COMBtNING BALANCE SHEET
December 31, 1995
Public
Employee Central
RetiremeM Garage Totals
ASSETS Fund Fund 1995 1994
Current Assets
Cash and cash equivalents $103,997 $329,821 $433,818 $277,545
Investments 971,983 3,082,605 4,054,588 3,562,956
Accounts receivable 2,679 10,890 13,569 3,027
Inventories 10,045 10,045 17,874
Total Current Assets 1,078,659 3,433,361 4,512,020 3,861,402
Fixed Assets
Eguipment 4,190,101 4,190,101 3,936,720
Less: Ailowance for depreciation 2,205,353 2,205,353 1,982,949
Total Net Fixed Assets 1,984,748 1,984,748 1,953,771
TOTALASSETS $1,078,659 $5,418,109 $6,496,768 $5,815,173
LIABILITIES AND FUND EQUITY
Currenf Liabilities
Accounts payable $103,362 $103,362 $15,751
Accrued salaries payable 3,837 3,837 3,565
Accrued vacation and sick pay 23,725 23,725 21,099
Accrued health insurance liability $987,081 987,081 205,876
Total Current Liabilities 987,081 130,924 1,118,005 246,291 r
Fund Epui
Contributions:
Transfers from:
General Fund 950,000 950,000 950,000
Debt Service Funds 1,335,437 1,335,437 1,335,437
Capital Projects Funds 8,078 8,078 8,078
Enterprise Funds 588,304 588,304 588,304
General Fixed Asset Account Group 976,587 976,587 1,232,536
Total Contributions 3,858,406 3,858,406 4,114,355
Retained Earnings:
Unreserved 91,578 1,428,779 1,520,357 1,454,527
Total Fund Equity 91,578 5,287,185 5,378,763 5,568,882
TOTAL LIABILITIES AND FUND EQUITY $1,078,659 $5,418,109 $6,496,768 $5,815,173
90
F
City of Braoklyn Center
Internal Service Funds
COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN RETAINED EARNINGS
For the Year Ended December 31, 1995
Public
Employee Central
Retirement Garage Totals
Fund Fund 1995 1994
Oqeratinq Revenues
Billingstodepartments $1,178,383 $1,178,383 $1,005,914
Sales 19,367 19,367 22,539
Total Operating Revenues 1,197,750 1,197,750 1,028,453
Operatin4 Exnenses
Personal Services $799,522 198,265 997,787 277,284
Supplies 204,439 204,439 180,356
Other Services 51,702 51,702 54,748
tnsurance 27,067 27,067 26,037
Depreciation 353,413 353,413 318,413
Total Operating Expenses 799,522 834,88& 1,634,408 856,838
Operating Income (Loss) (799,522) 362,864 (436,658) 171,615
Nonoaeratina Revenue or Exnense
Investment Earnings 64,302 182,237 246,539 161,272
Net Income (Loss) (735,220) 545,101 (190,119) 332,887
Depreciation on contributed assets that
reduces contributed capital 255,949 255,949 275,258
Retained Earnings January 1 826,798 627,729 1,454,527 846,382
Retained Earnings December 31 $91,578 $1,428,779 $1,520,357 $1,454,527
r
91
F
City of Brooklyn Center
Intemal Service Funds
COMBINING STATEMENT OF CASH FLOWS
For the Year Ended December 31, 1995
Employee Central
Retirement Garage Totals
Fund Fund 1995 1994
Cash flows from operatinq activities:
Operating income (loss) ($799,522) $362,864 ($436,658) $171,615
Adjustments to reconcile operating income
(loss) to net cash provided by (used for)
operating activities:
Depreciation 353,413 353,413 318,413
Changes in assets and liabilities:
Accounts receivable 31 (10,573) (10,542) (3,027)
Inventories 7,829 7,829 (17,874)
Accounts payable 87,611 87,611 15,751
Accrued salaries and leave 2,898 2,898 24,664
Accrued health insurance liability 781,205 781,2�5 {10,668)
Net cash provided by (used for) operating activities (18,286) 804,042 785,756 498,874
Cash flows from caoital and related
financinq activities:
Capital contributions 1,060,989
Acquisition of fixed assets (384,390) (384,390) (578,997)
Net cash provided by capital and related
financing activities: (384,390) (384,390) 481,992
Cash flows from investin4 activities:
Investments purchased (740,269) (2,770,736) (3,511,005) (1,817,088)
Investments sold or matured 723,817 2,295,556 3,019,373 825,918
Interest on investments 64,302 182,237 246,539 161,272
Net cash provided by (used for) investing activities 47,850 (292,943) (245,093) (829,898}
Net increase (decrease) in cash and cash equivalents 29,564 126,709 156,273 150,968
Cash and cash equivalents at beginning
of the year 74,433 203,112 277,545 126,577
Cash and cash equivalents at end of
the year $103,997 $329,821 $433,818 $277,545
NONCASH FINANCING, CAPITAL, AND INVESTING ACTIVITIES
Contribution of fixed assets from other funds $216,188
Fixed Assets transferred to General Fixed Assets
Account Group, net of depreciation 24,161
-92-
City of Brooklyn Center, Minnesota
AGENCY FUNDS
Agency Funds are established to account for assets held by the City
as an agent for other City Funds, governments, or individuals.
The Agency Funds are maintained on the modified accrual basis of
accounting.
The City's Agency Fund included in this section is:
Em�lovee Deferred Comnensation Fund: This fund was established to
account for funds on deposit with the trustees who administer the City
sponsored deferred compensation plan.
-93-
City of Brooklyn Center G
Employee Deferred Compensation Fund
STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
For the Year Ended December 31, 1995
December 31, December 31,
1994 1995
Balance Additions Deductions Balance
ASSETS
Investments for deferred
compensation plans held
by trustees (1) $2,635,726 $662,472 $123,437 $3,174,761
TOTAL ASSETS $2,635,726 $662,472 $123,437 $3,174,761
LIABILITIES
Due to employees for
deferred compensation $2,635,726 $662,472 $123,437 $3,174,761
TOTAL LIABILITIES $2,635,726 $662,472 $123,437 $3,174,761
(1) Investments are reported at market value.
-94-
City of.Brooklyn Center, Minnesota
GENERAL FIXED ASSET ACCOUNT GROUP
The General Fixed Asset Account Group was established to account for
the City's fixed assets which are not accounted for in an enterprise
fund, and which are tangible in nature, have a life longer than the
current fiscal year, and have a significant value. Depreciation is
not recorded on those assets.
-95-
City of Brooklyn Center S�
SCHEDULE OF CHANGES IN GENERAL FiXED ASSETS BY SOURCE
For the Year Ended December 31, 1995
January 1, December 31
1995 1995
Balance Acquisitions Disposals Balance
Investments in General Fixed Assets
Land $2,369,801 $2,369,80�
Buildings and improvements 5,417,234 $814,058 $15,795 6,215,49
Park improvements 3,039,104 114,806 43,279 3,110,631
Furniture 1,114,241 415,233 222,795 1,306,67
Departmental equipment 1,045,429 88,144 51,026 1,082,54
Total Investments in General
Fixed Assets $12,985,809 $1,432,241 $332,895 $14,085,155
Sources of Investments
Generallndebtedness $1,108,533 $28,877 $1,079,656
General Fund revenues 5,327,780 $236,633 133,405 5,431,0081
Liquor store income 168,034 4,377 163,657
Contributions 204,834 32,393 5,336 231,891
Capital projects funds 5,360,870 1,163,215 139,650 6,384,435,
Federal grants 815,758 21,250 794,508
Total Sources of Investments $12,985,809 $1,432,241 $332,895 $14,085,155
-96-
s i■■i
s-�
City of Brooklyn Center
SCHEDULE OF GENERAL FIXED ASSETS BY FUNCTION AND ACTIVITY
December 31, 1995
Buildings and Park Furniture and
Function Land Improvements Improvements Equipment Total
General government $444,737 $444,737
Government buildings $303,770 $5,569,456 $292,329 338,736 6,504,291
Public safety 70,450 1,133,052 1,203,502
Public works 145,350 145,350
Recreation 257,958 257,958
t Parks 2,066,031 575,591 2,818,302 69,393 5,529,317
Totals $2,369,801 $6,215,497 $3,110,631 $2,389,226 $14,085,155
S-8
City of Brooklyn Center
SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS
BY FUNCTION AND ACTIVITY
For the Year Ended December 31, 1995
General Fixed General Fixed
Assets Assets
January 1, December 31,
Function 1995 Additions Deductions 1995
Genera( government $495,501 $41,785 $92,549 $444,737
Government buildings 5,426,509 1,099,614 21,832 6,504,291
Public safety 1,147,127 132,304 75,929 1,203,502
Public works 186,411 27,388 68,449 145,350
Recreation 264,995 21,827 28,864 257,958
Parks 5,465,266 109,323 45,272 5,529,317
Totals $12,985,809 $1,432,241 $332,895 $14,085,155
r r■� r r�■�
City of Brooklyn Center, Minnesota
GENERAL LONG-TERM DEBT ACCOUNT GROUP
The General Long Term Debt Account Group was established to account
for the City's unmatured general obligation long term debt that is
secured by the full faith and credit of the City and is not the
primary obligation of an Enterprise Fund of the City.
-99-
i
1
City of Brooklyn Center
H I
COMPARATIVE STATEMENT OF GENERAL LONGTERM DEBT
December 31, 1995
December 31,
1995 1994
Amounts Available and to be Provided
Amounts available in Debt Service Funds $6,451,107 $5,688,104
Amounts to be provided:
From future tax levies 1,206,259 747,245
From future tax increments 12,102,634 8,659,65t
From future gas tax allocations 2,455,000 2,605,000
Total Available and to be Provided $22,215,000 $17,700,000
General Lonp-Term Debt Pavable
State Aid Street Bonds $2,455,000 $2,605,000
Special Assessment Bonds 1,705,000 1,010,000
Tax Increment Bonds 18,055,000 14,085,000
Total General Long-Term Debt $22,215,000 $17,700,000
100
�I
City of Brooklyn Center I
SUMMARY OF DEBT SERVICE REQUIREMENTS TO MATURITY
December 31, 1995
State Aid Specia! Total Debt
Street Bonds Assessment Bonds Tax Increment Bonds Service Requirements
Year Principal Interest Principai Interest Principal Interest Principai Interest
1996 $160,000 $147,872 $115,000 $69,790 $4,850,000 $888,999 $5,125,000 $1,106,661
1997 170,000 138,588 185,Q00 71,675 780,000 755,892 1,135,000 966,955
1998 180,000 128,478 150,000 64,240 840,000 715,040 1,170,000 907,758
1999 190,000 117,560 155,000 57,470 1,165,000 662,233 1,510,000 837,263
2000 205,000 105,706 160,000 50,237 1,280,000 595,554 1,645,000 751,497
2001 220,000 92,740 160,000 42,704 1,450,000 519,409 1,830,000 654,853
0
2002 230,000 78,788 165,000 34,919 1,540,000 433,892 1,935,000 547,599
I 2003 245,000 63,821 170,000 26,728 1,645,000 340,412 2,060,000 430,961
2004 265,000 47,496 175,000 18,120 1,775,000 237,302 2,215,000 302,918
2005 285, 000 29, 616 180, 000 9, 062 360, 000 171,123 825, 000 209, 801
2006 305,000 10,141 90,000 2,205 360,000 147,362 755,000 159,708
2007 385, 000 122, 585 385, 000 122, 585
2008 385,000 96,694 385,000 96,694
2009 400,000 70,200 400,000 70,200
2010 415,000 42,694 415,000 42,694
i 2p� 425,000 14,344 425,000 14,344
$2,455,000 $960,806 $1,705,000 $447,150 $18,055,000 $5,813,735 $22,215,000 $7,221,691
City of Brookl n Center, Minnesota
Y
STATISTICAL SECTION
The statistical section presents comparative statistical data for the
past ten years, and other pertinent information involving taxes,
revenues, expenditures, bonded debt, property valuations, insurance
coverage and miscellaneous statistics.
This information is intended to be useful and of interest to investors
in City bonds, financial institutions, and others interested in
municipal government financial statistics.
-102-
TABLE 1
City of Brooklyn Center
GENERAL GOVERNMENTAL EXPENDITURES BY FUNCTION
Last Ten Fiscal Years
Fiscal General Public Public Community Parks and Economic Non- Total
Year Government Safety Works Services Recreation Development Departmental Expenditures
1986 $1,487,876 $2,288,062 $1,549,584 $45,294 $1,405,020 $378,688 $7,154,524
1987 1,532,185 2,604,773 1,552,532 48,185 1,597,901 313,860 7,649,436
1988 1,768,607 2,716,205 1,768,918 69,117 1,706,516 $162,271 310,475 8,502,109
1989 1,793,495 3,103,222 1,754,800 81,043 1,814,391 168,305 347,315 9,062,571
i
0 1990 1,570,143 3,474,108 1,866,847 114,633 1,842,294 169,942 396,550 9,434,517
w
1991 1,591,108 3,950,862 1,827,052 104,706 1,870,385 177,179 414,149 9,935,441
1992 1,797,895 3,938,920 1,594,190 114,579 1,783,811 187,606 273,273 9,690,274
1993 1,560,674 3,870,563 1,756,187 41,325 1,999,270 178,703 300,803 9,707,525
1994 1,692,268 4,409,490 1,230,565 41,495 2,055,479 199,982 312,779 9,942,058
1995 $1,831,045 $4,598,618 $1,363,244 $41,146 $2,226,121 $209,576 $289,747 $10,559,497 I
Note: Table includes General Fund only.
Source: City Finance Department Records
I
TABLE 2
City of Brooklyn Center
GENERALGOVERNMENTAL
REVENUES AND OTHER FINANCING SOURCES BY SOURCE
Last Ten Fiscal Years I
I
General Other
Fiscal Property Licenses Intergovern- Charges for Court Financing Totaf
Year Taxes Permits mental Services Fines Misc. Sources Revenue �I
1986 $2,566,220 $411,406 $2,866,442 $965,527 $224,753 $318,453 $341,403 $7,694,204
1987 2,541,016 345,019 3,060,252 1,114,203 269,903 310,613 166,888 7,807,894
1988 3,318,656 329,783 3,078,491 1,215,635 243,952 363,918 337,871 8,888,306
1989 3,325,101 365,247 3,628,255 1,124,167 278,812 425,356 176,505 9,323,443
i
1990 3,854,798 297,495 3,201,888 919,537 215,804 443,623 174,925 9,108,070
1991 4,274,089 311,751 2,926,570 881,213 202,090 360,800 877,477 9,833,990
1992 4,291,322 332,186 3,133,495 794,876 148,701 301,771 620,000 9,622,351
1993 5,006,710 300,480 3,167,214 838,883 140,104 279,211 295,000 10,027,602
1994 5,703,773 317,620 3,443,247 825,959 113,573 241,570 100,000 10,745,742
1995 $5,946,363 $318,202 $3,543,009 $822,530 $178,263 $271,509 $100,000 $11,179,876
Note: Table includes General Fund only.
Source: City Finance Department Records
TABLE 3
Ciry of Brooklyn Center
TAX LEVIES AND TAX COLLECTIONS
Last Ten Fiscal Years
Collections Percentage Collections
of Current of Levy of Prior Total Delinquent
Year's Taxes Coltected Year's Taxes Collections Delinquent Taxes as
Year During Fiscal During Fiscal During Fiscal Total as a% of Taxes a% of
Collected Tax Levy Period Period Period Collections Tax Levy Receivable Tax Levy.
1986 $2,886,824 $2,849,382 98.70°!0 $32,739 $2,882,121 99.84°Io $390,912 13.54%
1987 3,396,789 3,242,573 95.46% 68,651 3,311,224 97.48% 73,052 2.15%
1988 3,576,812 3,488,174 97.52°10 13,090 3,501,264 97.89°l0 105,521 2.95%
1989 3,505,850 3,418,111 97.50% 55,502 3,473,613 99.08% 84,948 2.42%
0
u
1990 4,�92,978 3,857,576 94.25°l0 12,241 3,869,817 94.55% 221,097 5.40%
1991 4,670,606 4,478,115 95.88% 79,443 4,557,558 97.58% 249,882 5.35%
1992 5,072,385 4,818,439 94.99% 6,898 4,825,337 95.13% 351,199 6.92%
1993 5,491,707 5,204,161 94.76% (121,158) 5,083,003 92.56% 189,400 3.45%
i
1994 5,857,342 5,634,255 96.19% (176,148) 5,458,107 93.18% 246;311 4.21% I
1995 $6,501,197 $6,367,437 97.94% ($75,645) $6,291,792 96.78% $288,716 4.44%
Total tax levy is net of Homestead and Agricultural Credit Aid.
Source: City Finance Department Records
r r
TABLE 4
City of Brooklyn Center
ASSESSED VALUE AND ESTIMATED MARKET VALUE OF ALL TAXABLE PROPERTY (7)
Last ien Fiscal Years
1986 1987 1988 1989 1990 1991 1992 1993 1994 1995(3) I
Population 30,267 29,�59 29,420 28,578 28,810 28,887 28,558 28,533 28,484 28,484
Real PropeAy
Assessed value (1): Tax 7ax(2j Tax Tax 7ax Tax 7ax i
City Capacity Capaciry Capacity CapacRy Capacity Capacity Capacity
Residential $90,912,548 $91,929,246 $90,162,927 $11,834,805 510,133,274 $9,730,898 $9,793,012 $9,077,238 $9,110,096 $9,045,048
Non-residential 725,109, 658 139, 433, 999 154, 031, 355 19, 707, 624 16,185, 832 16, 305, 868 16,013, 701 14, 654,123 13, 665,143 13, 567, 573
Area-wide allocation (2 (1,345,864) (8,148,681) (977,841) (1,365,235) (1,384,936) (1,550,097) (1,533,767) (954,616) (687,295)
213,924,673 230,017,381 236,045,601 30,564,588 24,953,871 24,fi51,830 23,656,616 22,197,594 21,820,623 21,925,326
Less Tax Increment District 4,057,611 5,437,588 9,784,473 2,097,505 t,540,518 1,315,724 1,374,157 1,184,328 1,165,933 1,230,055
Totalassessedvalue 209,867,062 224,579,793 226,261,128 28,467,083 23,413,353 23,336,106 22,282,459 21,013,266 20,654,690 20,695,271
Estimated Market Value 813,377,800 854,846,550 910,336,300 950,463,900 1,000,269,000 1,016,754,000 1,015,968,800 978,404,100 959,668,700 961,811,400
F-+
O
Personal Property
Assessed value 4,291,916 4,296,001 4,510,313 190,299 530,526 539,121 543,237 549,751 622,500 622,500
Estimated market value 9,987,200 9,990,700 10,489,100 3,627,500 10,610,520 10,564,700 11,349,900 11,951,100 13,532,600 13,532,600
Total Taxable Property
Assessedvalue $214,158,978 $228,875,794 $230,771,441 $28, 657,382 23,943,879 $23,875.227 $22,825.696 $21,563,017 $21,277,190 $21,317,771
Estimated market value $823,359, $864,837, $920,825,400 $954,091,400 $1,010,879,520 $1,027,318,700 $1,012,179,300 $990,355,200 $973,207,300 $975,344,000
Assessed Value as a percent of
Estimated Market Value 26.01% 26.46% 25.06% 3.00% 2.37% 2.32% 2.26% 2.18% 2.19% 2.79Yo
I Per Capita Valuations
Assessed Value $7,076 $7,691 $7,844 $1,003 $831 $827 $799 $756 $747 $748
Estimated Market Va�ue $27,203 $29,061 $31,299 $33,386 $35,088 $35,563 $35,443 $34,709 $34,167 534,242
Source: City Assessing Department Records and Hennepin County
(1) The Minnesota Legfsiature changed the property tax system for taxes payable in 1989. The tax base of property was changed Trom assessed values to tax capacity values.
I (2) The reduction in residendal values is due to a change in the state mandated formula from gross lax capacity to net tax capacity.
(3j The 1995 population estimate was not avatlable. The 7994 popuiation estimate was used.
TABLE 5
City of Brooklyn Center
DIRECT AND OVERLAPPING TAX RATES AND TAX LEVIES
Last Ten Fiscal Years
TAX RATES IN MILLS (1) Hennepin
School Districts County Total City. School. and Countv
Year Vo-7ech No.286 No.279 No.281 No.11 Special No.286 No.279 No.281 No.11
Collectible City (2) School Earl Brown Osseo Robbinsdale Anoka Districts Eari Brown Osseo ftobbinsdale Anoka
1986 17.183 1.535 52.545 54.345 59.450 55.740 35.566 106.829 108.629 113.734 108.489
1987 18.167 1.421 49.640 55.783 56.932 54.926 35.315 104.543 110.686 111.835 108.408
1988 19.237 1.493 59.372 61.859 58.433 62.181 38.405 118.507 120.994 117.568 119.823
TAX RATES IN TAX CAPACITY RATES(2)
1989 14.260 1.223 43.440 54.465 49.189 51.384 32.898 91.821 102.846 97.570 98.542
1990 17.479 1.103 42.099 57.847 54.516 47.893 33.547 94.228 109.976 106.645 98.919
1991 19.208 1.046 46.207 58.643 55.540 51.779 37.479 103.940 116.376 113.273 108.466
1992 20.922 Q.513 54.696 65.766 58.723 56.525 40.888 117.Ot 9 128.089 121.046 118.335
1993 23.969 1.095 67.008 64.948 61.807 63.717 42.457 134.529 132.469 129.328 t 30.143
1994 27.030 0.809 56.614 66.786 64.401 57.161 44.248 128.701 138.873 136.488 128.439
1995 29.532 76.861 70.142 67.197 61.402 45.370 151.763 145.044 142.099 136.304
TAX LEVIES IN DOLLARS School Districts Hennepin
County 8 Total City,
p Year Vo-Tech No. 286 No. 279 No. 281 No. t t Special Schoots,
Collectible City (2) Schoo{ Ea�l Srown Osseo Robbinsdale Anoka Districts and County
i 1986 $2,886,824 $327,794 $3,776,253 $3,194,101 $3,476,104 $1,329,107 $7,593,315 $22,583,498
1987 3,396,789 293,194 3,900,388 3,409,323 3,726,934 1,327,348 8,088,560 24,142,536
1988 3,576,812 307,506 4,602,806 3,782,157 3,875,906 1,537,601 8,862,771 26,545,559
1889 3,505,850 293,205 4,059,518 3,770,603 3,791,546 2,179,665 8,776,213 26,376,600
1990 4,092,978 244,258 3,718,102 3;171,054 4,028,724 1,099,641 8,052,590 24,A07,347
1991 4,670,606 234,927 4,169,240 3,266,615 4,365,729 1,207,395 8,992,605 26,907,117
1992 5,072,385 123,029 4,596,776 3,516,409 4,444,416 1,293,144 8,344,678 27,390,837
1993 5,491,707 218,460 5,173,925 3,289,896 4,842,750 1,354,534 8,877,060 29,248,332
1994 5,857,342 166,681 4,175,027 3,472,013 4,526,288 1,287,264 9,384,582 28,869,197
1995 $6,501,197 $5,367,479 $3,288,144 $4,814,025 $1,269,585 $8,557,035 329,797,465
Source: City Community Development Department Records and Hennepin County
(1) The tax base of property was changed from assessed values to tax capacity values by the Minnesota Legislature in 1989.
(2) Tax levy inciudes Brooklyn Center E.D.A. and H.R.A..
I
i
ai■ r �w
TABLE 6
City of Brooklyn Center
SPECIAL ASSESSMENT BILLINGS AND COLLECTIONS
Last Ten Fiscal Years
Percent
Current Collections Total
Special Percent Collection Collections
Year Assessment of of Prior Total to Current I
Collected Billinqs Amount Billings Years Collections LeW I
1986 $631,296 $631,165 99.98% $11,953 $643,118 101.87%
I
1987 572,851 552,168 96.39% 3,139 555,307 96.94%
1988 556,028 526,594 94.71 2,723 529,317 95.20%
I
1989 562,484 545,242 96.93% 59,944 605,186 107,59% I
1990 504,682 476,874 94.49% 14,327 491,201 97.33%
9991 612,744 595,362 97.16% 23,135 618,497 100.94%
1992 558,265 533,439 95.55% 13,801 547,240 98.03%
1993 488,163 469,814 96.24% 21,188 491,002 100.58%
1994 466,784 444,670 95.26% 7,592 452,262 96.89%
1995 $476,852 $458,439 96.14% $5,497 $463,936 97.29%
Source: City Finance Department Records
TABLE 7
City of Brooklyn Center
RATIO OF NET BONDED DEBT TO ASSESSED VALUE AND NET BONDED DEBT PER CAPITA
Last Ten Fiscai Years
Less: Ratio of Net Net
Gross Amounts Net Bonded Debt Bonded
Fiscal Estimated Assessed Bonded in Debt Bonded to Assessed Debt Per
Year Population Value Debt (1) Service Fund Debt Values Capita
1986 S30,267 $214,158,978 $2,020,000 5945,736 $1,074,264 0.50% 35.49
1987 29,759 228,875,794 1,740,000 683,294 1,056,706 0.46°/a 35.51
1988 29,420 230,771,441 1,440,000 751,408 688,592 0.30% 23.41
Less: Ratio of Net Net
Tax Gross Amounts Net Bonded Debt to Bonded
o Fiscal Estimated Capacity Bonded in Debt Bonded Tax Capacity Debt Per
�o
Year Population Value Debt (1) Service Fund Debt Value Capita
1989 28,578 28,657,382 1,130,000 274,843 855,157 2.98% 29.92
1990 28,810 23,943,879 950,000 448,846 501,154 2.09% 17.40
1991 28,887 23,875,227 610,000 486,205 123,795 0.52% 4.29
1992 28,558 22,825,696 310,000 504,146 (194,146) -0.85% (6.79)
1993 28,533 21,563,017 0.00%
1994 28,4$4 21,277,190 0.00%
1995 (2) 28,484 $21,317,771 SO SO SO 0.00°k $0
Source: City Finance Department Records and Hennepin County
(1) Amount does not include tax increment, state aid street, special assessment, or revenue bonds. I
(2) 1994 population estimate.
r
Table 8
City of Brooklyn Center
COMPUTATION OF LEGAL DEBT MARGIN
December 31, 1995
Market Value $975,344,000
Debt (imit, 2% of market value 19,506,880
Total bonded debt 24,045,000
Deductions (See Note 5):
A. Bonds
1. Special Assessment Bonds 1,705,000
2. State Aid Street Bonds 2,455,000
3. Tax Increment Bonds 18,055,000
4. Utility Revenue Bonds 1,830,000
Total Deductions 24,045,000
Total Debt Applicable to Debt Limit 0
Le al Debt Mar i c mbe 995 19 506 880
g gn,Dee r31,1
Source: City Finance and Community Development Records
1
1
1 _��o_
TABLE 9
City of Brooklyn Center
COMPUTATION OF DIRECT AND OVERLAPPING DEBT
December 31, 1995
City's Share
Governmentai Unit Gross Debt Sinking Funds Net Debt Percent Amount
Direct Debt: City of Brooklyn Center (1) $0 $0 $0 100.0°l0 $0
Overlapping Debt:
School Districts:
No.281 Robbinsdale 0 (22,273) 22,273 9.40% 2,094
No.11 Anoka 144,562,792 38,053,799 106,508,993 5.90% 6,284,031
No.279 Osseo 165,760,000 48,296,249 117,463,751 6.38% 7,494,187
No. 286 Earl Brown 4,650,000 0 4,650,000 100.00% 4,650,000
Metropofitan Transit 1,400,000 0 1,400,000 1.19% 16,660
Metropolitan Council (2) 100,140,000 10,514,473 89,625,527 1.08% 967,956
Hennepin County 80,495,000 6,081,905 74,413,095 1.96% 1,458,497
Hennepin County Park Reserve District 18,245,000 2,196,754 16,048,246 2.68% 430,093
i
Total Overlas�aina Debt 515,252,792 105,120,907 410,131,885 21,303,517
Total Direct and Overlapping Debt $515,252,792 $105,120,907 $410,131,885 $21,303,517
Source: City Finance Department Records, Hennepin County, and I.S.D. 11, Anoka
(1) Includes only general obligation debt which is being repaid through property taxes.
(2) The Metropolitan Council also has outstanding $283,645,000 of general obligation sanitary sewer bonds
and loans which are supported by system revenues.
Direct Overlapping
Com�arative Net Debt Ratios Charaeable to Citv Total Debt Debt
Debt to tax capacity value $21,317,771 99.93% 0.00% 99.93%
Debt to market value $975,344,000 2.18% 0.00% 2.18%
Per capita debt, population 28,484 $747.91 $0.00 $747.91 I
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TABLE 10
City of Brooklyn Center
RATIO OF ANNUAL DEBT SERVICE EXPENDITURES FOR GENERAL
BONDED DEBT TO TOTAL GENERAL FUND EXPENDITURES
Last Ten Fiscal Years
Debt Service
Total Total as a Percent
Debt General Fund of General
Year Principal Interest Service Expenditures Expenditures
1986 $275,000 $507,558 $782,558 $7,154,524 10.94%
1987(1) 2,475,000 930,252 3,405,252 7,649,436 44.52%
1988 640,000 682,561 1,322,561 8,502,109 15.56%
1989 635,000 626,068 1,261,068 9,062,571 13.92%
1990 530,000 585,992 1,115,992 9,434,517 11.83%
1991 940,000 746,401 1,686,401 9,935,441 16.97%
1992(2) 1,880,000 1,195,204 3,075,204 9,690,274 31.73%
1993 1,710,000 1,186,585 2,896,585 9,707,525 29.84%
1994 780, 000 1, 080, 555 1, 860, 555 9, 942, 058 18.71
1995 $825,000 $1,075,976 $1,900,976 $10,559,497 18.00%
Source: City Finance Department Records
(1) Amounts for 1987 are higher because of the issuance of Refunding
Bonds of 1987 and the defeasance of Improvement Bonds of 1982.
(2) Amounts for 1992 are higher because Tax Increment Bonds of 1983
were called for payment prior to maturity.
112
TABLE 11
City of Brooklyn Center
SCHEDULE OF REVENUE BOND COVERAGE
Last Ten Fiscal Years
Ratio of
Net
Non- Net Revenue
Operating Operating Gross Revenue to Debt
Year Revenue Revenue Revenue Expenses(1) Available Principal Interest Total Service
Water Utifitv Fund
1986 $473,279 $488,834 $962,113 $506,466 $455,647 $45,000 $12,399 $57,399 7.938 :1
1987 556,222 412,653 968,875 489,374 479,501 45,000 10,786 55,786 8.595 :1
1988 694,654 375,061 1,069,715 695,395 374,320 45,000 8,889 53,889 6.946 :1
1989 687,982 425,U30 1,113,012 665,629 447,383 45,000 7,180 52,180 8.574 :1
1990 696,147 440,644 1,136,791 604,497 532,294 45,000 5,425 50,425 10.556 :1
1991 703,422 390,421 1,093,843 697,108 396,735 45,000 3,695 48,695 8.147 :1
1992 896,857 316,551 1,213,408 762,405 451,003 45,000 1,940 46,940 9.608 :1
1993 848,134 311,781 1,159,915 659,099 500,816 0 0 0 N/A
1994 1,053,689 284,169 1,337,858 720,973 616,885 0 0 0 N/A
1995 $1,048,834 $301,642 $1,350,476 $813,157 $537,319 $0 $0 $0 N/A
Storm Drainaae Fund (21
1991 $374,040 $2,628 $376,668 $164,767 $211,901 $0 $0 $0 N/A
1992 494,456 14,030 508,486 207,427 301,059 0 0 0 N/A
1993 639,837 28,138 667,975 160,044 507,931 0 0 0 N/A
1994 685,011 39,930 724,941 21'1,425 513,516 0 30,208 30,208 17.00 :1
1995 $788,897 $72,881 $861,778 $184,990 $676,788 $0 $90,925 $90,925 7.44 :1
Source: City Finance Department Records
(1) Excludes depreciation and interest on bonds.
(2) The Storm Drainage Fund was established in 1991.
I
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I
TABLE 12
City of Brooklyn Center
PROPERTY VALUE, CONSTRUCTION AND BANK DEPOSITS
Last Ten Fiscal Years
Commercial Residential
Construction Construction Property Value
Bank
Year Value Units Value .Commercial Residential Non-Taxable Deposits
1986 $14,689,661 157 $9,737,806 $199,882,500 $613,694,000 $64,906,838 N/A
1987 7,220,527 9 885,202 246,784,100 608,890,900 92,384,868 N/A
1988 5,084,601 66 3,073,500 286,096,300 634,230,700 89,745,168 N/A
1989 7,288,205 4 278,138 321,452,800 678,898,700 83,719,768 $219,077,986
1990 5,750,567 1 65,249 333,967,220 676,912,300 83,719,768 202,261,488
1991 4,719,147 7 450,745 339,358,500 677,299,800 87,479,168 201,944,156
1992 5,547,668 14 948,810 344,860,700 667,318,600 107,747,100 199,800,971
1993 7,598,108 7 505,000 322,295,300 668,059,900 108,955,700 200,539,494
1994 5,504,477 9 587,000 301,702,300 671,499,000 109,600,200 197,886,000
1995 $9,541,847 2 $153,000 $297,268,000 $678,076,000 $110,458,200 $255,238,839
Source: City Finance Department Records, Community Development Department Records, and Local Banks.
TABLE13
City of Brooklyn Center
PRINCIPAL TAXPAYERS
December 31, 1995
Percentage
1995 of Total
Market Market
Taxpayers Type of Business Valuation Value
S C Ltd Partners Brookdale Shopping Center $49,819,800 5.11
Dayton-Hudson Corp. Department Stores 22,756,100 2.33%
Prudential Insurance Co. Sho in Center/Office Buildin s 14 846 100 1.52%
Pp 9 9
Ryan Construction Office Buildings 14,487,900 1,49%
First Industrial Realty Trust Warehouse/Office Buildings 9,486,600 0.97%
Sears Roebeck and Co. Department Store 9,161,100 0.94%
Twin Lake North Apartments 6,624,000 0.68%
NW Raquet Clubs Health Club/Fitness 6,232,100 0.64%
Plaza RE Partners Hilton Hotel 5,280,000 0.54°/a
Lutheran Brotherhood Office/Warehouse 5,027,600 0.52%
Total Market Value $133,413,700 13.68%
TOTAL CITY MARKET VALUE $975,344,000
Source: City Community Development Records
115
City of Brooklyn Center Table 14
SCHEDULE OF INSURANCE COVERAGE (Continued next page)
Effective January 1, 1996
Policy Period
Tvoe of Coveraae and Details From To Liability Limits
I. Statutorv Liabilitv to Emnlovees
a. Workers' Compensation 01-01-96 01-01-97 Statutory
(participant in the League of
Minnesota Cities Insurance Trust Self-
Insured Workers' Compensation Program)
II. Liabilitv to the Public
a. Comprehensive general liability include the following additional coverages:
(a) All employees as additional insureds
(b) Personal injury coverage to include false arrest, libel, slander, wrongful
entry or eviction or invasion of right of privacy.
(c) Broad contractual liability
(d) Products liability
(e) Public Officials' liability
(1) Bodily injury 01-01-96 01-01-97 $600,000 combined single limit
(2) Property damage 01-01-96 01-01-97 $600,000 combined single limit
(3) Personal injury 01-01-96 01-01-97 $600,000 combined single limit
b. Automobile liability,
comprehensive 01-01-96 01-01-97
(1) Bodily injury $600,000 occurrence
(2) Property damage $600,000 occurrence
(3) Uninsured motorist $600,000 occurrence
c. Liquor stores' dram shop 01-01-96 01-01-97 $1,000,000 each common
cause
d. Goif Course and Central Park 04-01-96 10-3'I-97 $1,000,000 each common
liquor liability cause
e. Personal accident, Council 0'1-01-96 01-01-97 $100,000 accidental death
Commissions $400/week short term disability
$1,000 Medical
f. Personal accident, Volunteers 01-01-96 01-01-97 $100,000 accidental death
$400/week short term disability
$1,000 Medical
116
City of Brooklyn Center Table 14
SCHEDULE OF INSURANCE COVERAGE (Continued from prior page)
Effective January 1, 1996
Buiidings
and Policy Period Structures Content:
(Repiacement (Replacement
Type of Coverage and Details From To Cost) Cost)
III. Insurance on City Property 01-01-96 01-01-97
a. Public and institutional
property, all risk, blanket
$33,914,000; $1,000 deductible
replacement value on buildings.
(1) Civic Center $8,066,000 $1,170,000
(2) East Fire Station $694,000 $153,000
(3) Municipal Service Garage $2,800,000 $550,000 t
(4) Elevated Water Towers 3 locations $3,722,000 $0
(5) Park Shelter Buildings 17 locations $1,557,000 $55,000
(6) Pump Houses 10 locations $96'1,000 $110,000
(7� Lift Stations 10 locations $1,140,000 $71,000
(8) Meter Station $17,000 $0
(9) Storage Building $429,000 $20,000
(10) Outdoor ligFiting systems 7 locations $316,000 $0
(11) Liquor Store and Fire Station $575,000 $330,000
(12) Humboldt Liquor Store $254,000 $170,000
(13) Leased Liquor Store $51,000 $180,000
(15) Pedestrian Bridge 2 locations $1,152,000 $0
(16) Picnic Shelter $58,000 $0
(17) Earle Brown Heritage Center $7,427,000 $1,462,000
(18) Centerbrook Golf Course Club House $335,000 $22,000
(19) Centerbrook Golf Course Garage $37,000 $7,000
(20) l.ions Park Concession Stand $37,Q00 $3,000
Liability Limits
b. Boiler and machinery 01-01-96 01-01-97 $5,000,000 per accident
c. Automotive physical damage 01-01-96 01-01-97
(1) Comprehensive ACV-$1,OOOdeductible
(2) Collision ACV $1,000 deductible
1V. Criminal Acts
a. Faithful pertormance blanket position $5Q0,000 per loss
b. Money and securities (broad form) Various
c. Depositor's forgery $100,000
117
TABLE 15
City of Brooklyn Center
DEMOGRAPHIC STATISTICS
Last Ten Fiscal Years
School Enroliments (2)
Mpis-St:Paul No. 286
Fiscal Unempioyment C.P.I. No.11 No.279 No.281 Earle
Year Population Rate (1) %(1) Anoka Osseo Robbinsdale Brown
1986 30,267 3.9% 1.3% 1,011 1,838 555 1,361
1987 29,759 4.1 3.0% 989 1,674 570 1,376
1988 29,420 3.5% 5.0% 989 1,674 563 1;456
1989 28,578 3.5% 4.1 671 1,674 563 1,652
1990 28,810 3.2% 4.1 642 1,69 6 540 1,747
1991 28,887 4.6% 2.3% 807 1,680 521 1,327
1992 28,558 4.4% 1.4% 671 1,178 526 1,709
1993 28,533 4.3% 2.7% 691 1,106 540 1,685
1994 28,484 2.6% 2.7% 661 1,071 577 1,681
1995 (3) 28,484 2.9% 2.8% 664 1,113 567 1,645
(1) Minnesota Department of Jobs and Training, Research and Statistics Dept.
Twin Cities metro area average for year.
(2) School enrollment data was supplied by the schoots.
(3) 1994 population estimate.
128
TABLE 16
City of Brooklyn Center (Continued
MISCELLANEOUS STATISTICAL FACTS next page)
December 31, 1995
Date of Incorporation February 14, 1911
Date of Adoption of City Charter November 8, 1966
Date City Charter Effective December 8, 1966
Form of Govemment Council-Manager
Fiscal Year Begins January 1
Area of City 8 1J2 square miles
Miles of Streets:
City 105.69
County 6.49
State 10.79
Miles of Storm Sewers 41.13
Number of Street Lights Owned by N.S.P 1007
Owned by City 73
Building Permits: Number Estimated
Issued Cost
1995 603 $11,948,205
1994 607 13,418,453
1993 520 11,437,250
1992 573 14,286,465
1991 466 8,800,980
1990 504 8,035,605
1989 526 19,217,696
1988 554 10,846,987
1987 573 10,421,724
1986 604 28,594,810
City Employees as of December 31, 1995
Regular full-time 149
Temporary or part-time 177
Total 326
Fire Protection:
Number of Stations 2
Number of Full-time Employees 1
Number of Volunteer Firefighters 26
Police Protection:
Number of Stations 1
Number of Full-time Employees 58
Number of Part-time Employees 14
119
Cit of Brookl n Center TABLE 16
Y Y
MISCELLANEOUS STATISTICAL FACTS (Continued from
December 31, 1995 prior page)
Parks and Recreation:
Park property totals 522 acres developed to serve a wide variety of
recreational interests. Area include playlots, playgrounds, playfields,
trails, nature areas and an arboretum.
Playgrounds
Park shelters 17
Ice skating rinks 7
Hockey rinks 5
Softball diamonds 26
Baseball diamonds 6
Tennis courts 8
Basketball courts 15
Municipal Water Plant:
Number of connections 8,773
Average daily consumption in gallons 3,468,025
Peak daily consumption in gallons 8,693,000
Plant capacity gailons per day 17,652,000
Miles of water mains 114.582
Number of fire hydrants 955
Number of wells 9
Number of elevated reservoirs 3
Storage capacity in gallons 3,000,000
Water rate per thousand gallons $0.86
Municipal Sewer Plant:
Number of connections 8,775
Miles of sanitary sewer 104.98
Daily disposal capacity in gallons 10,938,240
Number of lift stations 10
Residential rate per quarter $42.50
Municipal Liquor Stores (Off-sale):
Number of owned stores 2
Number of leased stores 1
1995 sales $2,696,776
Elections:
Last General Election November 8, 1994
Registered voters 17,593
Votes cast 10,751
Percentage of registered voters voting 61
Last Municipal Election 1994
Reg+stered voters 17,593
Votes cast 10,751
Percentage of registered voters voting 61%
120