HomeMy WebLinkAboutCAFR-1986 COMPREHENSIVE
AN N UAL
AUDITED FINANCIAL REPORT
of the
CITY MANAGER
of
BROOKLYN CENTER, MINNESOTA�
For The Year Ended December 31, 1986
GERALD G. SPLINTER, CITY MANAGER
Prepared by
THE DEPARTMENT OF FINANCE
Paul W. Holmlund, Director
(Member of Government Finance Officers
Association of the United States and Canada)
CitY of Brooklyn Center
COMPREHENSIVE ANNUAL FINANCIAL REPORT
Year Ended December 31, 1986
TABLE OF CONTENTS
Exhibit Page
Number Number
INTRODUCTORY SECTION
Title Page
Table of Contents
Listing of City Officials
Organization Chart 2
Location Map of City Properties 3
City Manager�s Letter q. 5
Finance Director�s Letter 6- 18
Certificate of Conformance 1g 20
FINANCIAL SECTION
Auditor's OpAnion 2�
Combined Statements Overview:
Combined Balance Sheet All Fund Types and
Account Groups 1 22 23
Combined Statement of Revenues, Expenditures
and Changes in Fund Balances All Governmental
Fund Types 2 �4
Combined Statement of Revenues, Expenditures and
Changes in Fund Balances Budget (GAAP Basis)
And Actual General and Special Revenue Funds 3 25
Combined Statement of Revenues, Expenses and
Changes in Retained Earnings Proprietary
Funds 4 26
Combined Statement of Changes in Financial
Position Proprietary Funds 5 27 28
Notes to Financial Statements 29 56
City of Brooklyn Center
COMPREHENSIVE ANNUAL N'INANCIAL REPORT
Year Ended December 31, 1986
TABLE OF CONTENTS
Statement/
Schedule Page
Number Number
Combining and Individual Fund Financial Statements:
General Fund:
Comparative Balance Sheet A-1 57
Statement of Revenues, Expenditures and
Changes in Fund Balance Budget
(GAAP Basis) and Actual A-2 58
Schedule of Revenue Budget and Actual
Objective Classification S-1 59 61
Schedule of Expenditures Compared to
Budget (GAAP Basis) S-2 62 66
Special Revenue Funds:
Combining Balance Sheet B-1 67
Combining Statement of Revenues,
Expenditures and Changes in Fund
Balances Budget and Actual B-2 68 70
Debt Service Funds:
Combining Balance Sheet C-1 71
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances C-2 72
Capital Projects Funds:
Combining Balance Sheet D-1 73
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances D-2 74
Project-Length Schedule of Construction
Projects Capital Projects Fund S-3 75
Project-Length Schedule of Construction
Projects Municipal State Aid
Construction Fund S-4 76
Cit� of Brooklyn Center
COMPREHENSIVE ANNUAL �'INANCIAL REPORT
r Year Ended December 31, 1986
TABLE OF CONTENTS
Statement/
Schedule Page
Number Number
Special Assessment Funds:
Combining Balance Sheet E-1 77 78
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances E-2 79
Project-Length Schedule of Construction
Projects S-5 80
Enterprise Funds:
Combining Balance Sheet F-1 81 82
Combining Statement of Revenues, Expenses and
Changes in Retained Earnings F-2 83
Combining Statement of Changes in Financial
Position F-3 84 85
Statement of Operations Municipal Liquor Fund F-4 86
Statement of Operating Expenses Municipal
Liquor Fund F-5 87
Balance Sheet Public Utilities Fund F-6 88 89
Statement of Operations and Changes in Retained
Earnings Public Utilities Fund F-7 90
Water Operating Expense Public Utilities Fund F-8 91
Sewer Operating Expense Public Utilities Fund F- 92
Agency Funds:
Combining Statement of Changes in Assets and
Liabilities All Agency Funds G-1 93
City of Brookl�n Center
COMPREHENSIVE ANNUAL FINANCIAL REPORT
Year Ended December 31, 1986
TABLE OF CONTENTS
Statement/
Schedule Page
Number Number
General Fixed Asset Account Group:
Schedule of Changes in General Fixed Assets
And Sources H-1 94
Schedule of General Fixed Assets By H_ 95
Function and Activity
Schedule of Changes in General Fixed Assets
By Function and Activity H-3 96
General Long-Term Debt Account Group:
Comparative Schedule of General Long-Term Debt I 97
SUPPLEMENTAL INFORMATION SECTION
Schedule of Sources and Uses of Public Funds For Tax
Increment Financing Dist. No. 2100, Brutger S- 98
Schedule of Sources and Uses of Public Funds For Tax
Increment Financing Dist. No. 2401, Earle Brown S-7 99
STATISTICAL SECTION
Table
Number
General Governmental Expenditures by Function
Last Ten Years 1 100
General Fund Revenues by Source
Last Ten Years 2 101
Tax Levies and Tax Collections
Last Ten Years 3 102
Assessed Value and Market Value of All Taxable
Property Last Ten Years 4 103
Tax Rates and Tax Levies Last Ten Years 5 104
Special Assessment Collections Last Ten Years 6 105
Ratio of Net Bonded Debt to Assessed Value and
Net Bonded Debt Per Capita Last Ten Years 7 106
City of Brookl n Center
COMPREHENSIVE ANNUAL �INANCIAL REPORT
Year Ended December 31 1986
TABLE OF CONTENTS
Table Page
Number Number
Statement of Legal Debt Margins 8 107 108
Computation of Direct and Overlapping Debt 9 109
i Ratio of Annual Debt Service Expenditures for
General Bonded Debt to Total General Expenditures 10 110
1 Scheduie of Revenue Bond Coverage Last Ten Years 11 111
Property Value and Construction Last Ten Years 12 112
Principal Taxpayers 13 113
Summary of Debt Service Requirements to Maturity 14 114
Schedule of Insurance Coverage 15 115-116
Schedule of Cash and Temporary Cash Tnvestments 16 117
Miscellaneous Statistical Facts 118-120
City of Brookl.yn Center
LISTING OF CITY OFFICIALS
For the Year Ended December 31 1986
ELECTED OFFICIALS
Term of Office Term Expires
Mayor Dean Nyquist Four Years 12/3�/90
Councilman Rich Theis Four Years 12/31/88
Councilman Bill Hawes Four Years 12/31/88
Councilman Gene Lhotka Four Years 12/31/90
Councilwoman Celia Scott Four Years 12/31/90
OFFICIALS NOT ELECTED
City Manager Gerald G. Splinter
City Clerk Darlene Weeks
City Treasurer Paul W. Holmlund
City Attorney LeFevere, Lefler,
Kennedy, 0'Brien
Drawz
Department Heads:
Finance Paul W. Holmlund
Public Works Sy Knapp
Police James Lindsay
Fire Ronald Boman
Planning and Inspection Ronald Warren
Recreation Arnold Mavis
Assessment Peter Koole
Liquor Stores Gerald Olson
Personnel Coordinator Geralyn Barone
HRA Coordinator Brad Hoffman
City Engineer Bo Spurrier
Public Works Superintendent Richard Ploumen
Health Officer Duane Orn, M.D.
Fire Marshall Gerald Pedlar
Sanitarian Thomas Heenan
Civil Defense Coordinator James Lindsay
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ORGANIZATION CHART COUNCIL-MANAGER PLAN
City of Brooklyn Center, Minnesota
r i
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ADVISORY t CHARTER COMMISSION
Capital Improvement Review Board (appointed by district court)
ELECTORATE
r
y
ADVISORY
CITY ATTORNEY
Housing Commission I t
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7
ADVISORY CITY COUNCIL
Human,Rights Commission HRA COORDINATOR
l
ADVISORY I 'f PERSONNEL COORDINATOR
Parks and Recreation Commission
CITY MANAGER
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ADVISORY
Planning Commission CITY CLERK
rv t
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i
DIRECTOR I�
Emergency
Prepared-
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DIRECTOR DIRECTOR DIRECTOR CHIEF DIRECTOR CHIEF MANAGER DIRECTOR RSSESSOR
Planninq of Finance Poliee of Volunteer Liquor Public Tax
and Recreation Department Department Environ- Fire 5tores Works Assessment
Inspection City mental Department Department Department
Department Treasurer Health
aL 4 _L L L 1 ai L.
I M I
1 r r i T
Golf Recreation Park Government Engineering Street Public
Course Programs Maintenance Buildings Division Division Utilities
and Division Division Division
Commun i ty
Center
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CITY GENERAL PROPERTIES,
A. Civic Center ICity Hali Communiry Cenmrl
B. West Fi�e Ststion liquor Store No. 2
C. East Fire Station
PARK SYSTEM KEIf D. Liquor5tora No 1(LeasedProperty)
E. LiQuor Store No. 3 Ileased Properryl
1. Willow Lano park 13. Grsndview Park f. Chv Mamtenance Building
Y. Ofd1� I.IM PNk 14. Everp�een Park G. Gty Mai�tenance Annex
3. Kybwn P�rk 15. Bdlvua Park H. Well No. 6, 1207 69th Avenus NorM
0. L�k�sid� P�rk 16. Marlin Pstk I. WeU No. 7, 1230 Camden Avenue NorM
6. 8rookl�m P�rk 17. Finhaus� Park J. Wa�er Tower No. 1
g, W�op�ud Park 18. Rivadd� P��k K. Water Tower No. 2
7. Northpon Fark 19. Freew�v P+�k L. Water Tower No. 3
8. HappY HollOw Vark �0, Arborstum M. Litt Station No. 1, 6112 Vincent Avenue North
9, Palma lak� Pnk Zt. Riwr Ritlpa Perk (Miss: Rirar) N. L�ft Ststion No. 2, 5450 lyndale Avenue North
10. GaMn City P�rk (Stab Owned) O. Futuro Wate� Treatment and Maintensnw Annex
11. Gntral P�rk 22. Twin Lak� B�aeh Park P•
12. lions P�rk ICny 6 Sate Ownad) Old Ciry Hall Site iVicantl
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ciTY 6301 SHINGLE CREEK PARKWAY
OF
B ROOKLYN BROOKLYN CENTER, MINNESOTA 55430
TELEPHONE 561-5440
C ENTER EMERGENCY- POLICE FIRE
911
June 19, 1987
HONORABLE MAYOR AND MEMBERS OF CITY COUNCIL
CITY OF BROOKLYN CENTER
In accordance with State Statutes and Section 7.12 of the City
Charter, I hereby transmit the comprehensive Annual Audited
Financial Report of the City of Brooklyn Center as of December
31, 1986, and for the fiscal year then ended. Responsibility for
both the accuracy of the presented data and the completeness and
fairness of the presentation, including all disclosures, rests
with the City. Management believes that the data as presented is
accurate in all material aspects; that it is presented in a
manner designed to fairly set forth the financial position and
results of operations of the City as measured by the financial
activity of its various funds; and that all disclosures necessary
to enable the reader to gain the maximum understanding of the
City's financial affairs have been included.
In developing and evaluating the City's accounting system,
consideration is given to the adequacy of internal accounting
controls. Internal accounting controls are discussed by the
Finance Director in his accompanying letter of transmittal and,
within that framework, I believe that the City�s internal
accounting controls adequately safeguard assets and provide
reasonable assurance of proper recording of financial
transactions.
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 Annual Financial
Reports are judges to conform substantially with high standards
of public financial reporting, including generally accepted
accounting principles promulgated by the Governmental Accounting
Standards Board (GASB). It is my belief that the accompanying
fiscal year 1986 Financial Report meets program standards, and it
will be submitted to the Government Finance Officers Association
for review.
��C,���.
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-4-
MAYOR AND MEMBERS OF CITY COUNCIL June 19, 1987
In accordance with the above mentioned guidelines, the
accompanying report consists of three parts: (1) Introductory
Section, including the Finance Director's letter of transmittal;
(2) Financial Section, including the financial statements and
supplemental data of the government, accompanied by our
independent auditor's opinion; (3) Statistical Section, including
a number of tables of unaudited data depicting the financial
history of the government for the past ten years, information on
overlapping governments, and other miscellaneous information.
State law and the City Charter require that the financial
statements of the City of Brooklyn Center be audited by a
certified public accountant selected by the City Council. This
requirement has been complied with and our auditor's opinion is
included in the financial section of this report.
Res ec ull su itted,
G a d G. Splinter
City Ma er
i
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ciTY 6301 SHINGLE CREEK PARKWAY
OF
B ROOKLYN BROOKLYN CENTER, MINNESOTA 55430
TELEPHONE 561-5440
C ENTER EMERGENCY POLICE FIRE
911
June 18, 1987
Mr. Gerald G. Splinter
City Manager
City of Brooklyn Center
Dear Mr. Splinter:
The Comprehensive Annual Financial Report of the �ity of Brooklyn
Center, Minnesota for the year ended December 31, 1986 is submitted
herewith. I be 1 ie ve the data, as presented, is accurate in a 1 1
material aspects; that it is presented in a manner designed to fairly
set f orth the financial position and results of operations of the City
as measured by the financial activity of its various funds; and that
all disclosures necessary to enable the reader to gain the maximum
understanding of the City's financial affairs have been inclucled.
THE REPORT
The organization, form and content of this report were prepared in
accordance with standards prescribed by the Governmental Accounting
Standards Board; the Government Finance Officers Association of the
United States and Canada; the American Institute of Certified Public
Accountants; the Minnesota State Auditor; and the City Charter.
ORGANIZATION
Brooklyn Center was incorporated as a Vi 1 lage on February 14, 1911
and became a City of the second class on December 8, 1966 thirty days
from the adoption of the City Charter by a referendum vote of the
people,.
The form of government established by the Charter is the "Council-
Manager Plan". The Council exercises the legislative power of the
City and determines all matters of policy. The Council is composed of
a Mayor and four Council persons who are elected at large. A charter
amendment was passed on November 4, 1986 and became effective on
December 4, 1g86 which increased the term in office of the Mayor and
Council to four years. They are to be elected on a staggered basis in
the November general election. The City Manager is the head of the
Administrative branch of the City Government and is responsible to the
Council for the proper administration of aIl affairs relating to the
City. The City Manager is the chief accounting officer of the City
and must provide such information about the City as the Counci 1 may
reaui re ��,YNC��
19E6ALL•IMFRIGQh'
I I I'
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Mr. Splinter June 18, 1987
The offices of City Clerk and City Treasurer are subordinate to, and
appointed by, the City Manager. The City Clerk has duties in
connection with the keeping of the public records. The City Treasurer
has duties in connection with the receipt, disbursement and custody of
public funds. The City Attorney is appointed by the Council. All
other officers and employees of the City are appointed by the City
Manager. Appointment or removal of department heads are made final
upon a majority vote of the Council.
ACCOUNTING SYSTEM AND BUDGETARY CONTROL
In developing and evaluating tl�e City's accounting system,
consideration is given to the adequacy of internal accounting
controls. Internal accounting controls are designed to provide
reasonable, but not absolute, assurance regarding: (1) the
safeguarding of assets against loss from unauthorized use or
disposition; and (2) the reliability of financial records for
preparing financial statements and maintaining accountability for
assets. The concept of reasonable assurance recognizes that: (1) the
cost of a control should not exceed the benefits likely to be derived;
and (2) th� evaluation of costs and benefits requires estimates and
judgements by management.
All internal control e valuations occur within the abo ve framework. I
believe that the City's internal accounting controls adequately safe-
guard assets and provide reasonable assurance of proper recording of
financial transactions. A summary of significant accounting policies
is contained in Note 1 of the Notes to Financial Statements which can
be found in the Financial Section of this report. Accounting for all
the City's activities is centralized under the Department of Finance.
The responsibility for maintaining and prescribing all financial
records, establishing and maintaining internal control, and preparing
financial and budgetary reports is delegated to this department.
The City Charter grants the City Council full authority over the
financ�al affairs of the City. The Charter requires that all funds of
the C�i�ty, except funds made up of procee-ds of bond issues, public
service enterprise funds, and special assessment funds, be budgeted.
The City Manager is charged with the responsibility of preparing the
estimates of the annual budget and the enforcement of the provisions
of the budget as specified in the budget resolution. Upon adoption of
the annua 1 budget reso lution by the Counci 1, it becomes the forma 1
budget for City operations. After the budget resolution is adopted,
the Council can increase the budget only if actual receipts exceed the
estimates, or from accumulated surplus in the amount of an unexpended
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Mr. Splinter June 18, 1987
appropriation from the pre vious fiscal year. Financial reports, which
compare actual performance with the budget, are prepared monthly and
presented to the Council so the Council is able to review the
financial status and measure the effectiveness of the budgetary
controls. Budget control is maintained by recording encumbrances as
purchase orders are written. Open encumbrances are reported as
reservations of fund balance at December 31, 1986 since they do not
constitute expenditurs or liabilities.
REPORTING ENTITY
In accordance with Governmental Accounting Standards Board
pronouncements and NCGA Statement No. 3 fcr financial reporting
purposes, the City's financia 1 statements inc lude a 11 funds, account
groups, departments, agencies, boards, commissions, and other
organizations over which City officials exercise oversight
responsibility.
Oversight responsibility includes such aspects as appointment of
governing body members, budget review, approval of property tax
levies, outstanding debt secured by City full faith and credit or
revenues, responsibility for funding deficits, and others.
As a result of applying the criteria of Statement No. 3, certain
organizations have been included or excluded from the City�s financial
statements, as follows:
INCLUDED:
Housing and Redevelopment Authority in and for the City of Brooklyn
Center (HRA).
The HRA was created by the City to carry out local programs for
assistance to low income citizens for home improvements. The
govern�ng board is appointed by the City Council. The Council re views
and approves HRA tax levies, and the City- provides ma jor community
development financing for HRA activities. The City manager is the
Executive Director.
EXCLUDED:
The Brook].yn Center Firefighter's Relief Association.
i This association is organized as a non-profit organization by its
members to provide pension and other benefits to such members in
accordance with Minnesota statutes. The board of directors is elected
by the membership of the organization. All funding is conducted in
accordance with Minnesota statutes, whereby state aids flow to the
-8-
Mr. Splinter June 18, 1987
association. Tax levies, if necessar are determined b the
Y� y
association and are only reviewed by the City. The association pays
benefits directly to its members. (See Note 3 for disclosures
relating to the pension plans operated by the association.) State Aid
insurance premium tax in the amount of $71,067 and ad velorem taxes in
the amount of $41 were receipted by the City and disbursed to the
Association.
Independent School District No. 286 (Earle Brown)
Independent School District No. 27g (Osseo)
Independent School District No. 281 (Robbinsdale)
Independent Schoo). District No. 11 (Anoka)
Independnet School District No. 287 (Suburban Hennepin County Area
Vocational Technical Institute)
The Districts, like all school districts in Minnesota, are completely
independent of any other governmental entity. They have their own
elected Board of Education, levy their own taxes and prepare their own
financial reports.
CITY FINANCIAL PROSPECTS FOR FUTURE YEARS
Based on trends of the past several years and current projections,
there wil be a greater reliance on local property taxes and user fees
and a de-emphasis of intergovernmental revenues (Federal and State) as
sources for financing of the City's operations. A strong local tax
base should occur as a result of continued commercial development.
The City's Housing and Redevelopment Authority has succeeded in
attracting such growth through its use of tax increment financing for
office and retail complexes in the downtown district. Recreational
opportunities are being enhanced by the construction af a municipal
golf course to open in 1987.
THE CITY AND ITS SERVICES
The City provides the full range of municipal services contemplated by
statute or charter. This includes public safety (police and fire),
streets, sanitation, health and social services, culture-re�reation,
public improvements, planning and zoning, and general administrative
services. The City also operates three off-sale liquor stores and a
public water and sewer utility. Net revenue produced in excess of
working capital requirements by the municipal liquor stores operations
have been used toward financing current expense and capital outlay
programs of the Genera 1 Fund.
The financia 1 condition of each of the City's funds as of December 31
1986 and the results of each funds' operations for the year, together
with a comparison of these results to budget estimates and a
comparison to the previous years' results, is presented within the
Financial Statements Section of this report.
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Mr. Splinter June 18, 1987
GENERAL GOVERNMENT FUNCTIONS
As of December 31 1986, the fund ba lance of the Genera 1 Fund, which
had not been appropriated to a specific expenditure purpose, totaled
$4 ,997,056 This amount represents the working capital that is
available to finance the general operations of the City.
Revenues and other financing sources used for general governmental
operations totaled $7,694,204 in 1986, an increase of $416,458 over
the previous year. The largest component of this increase was in
intergovernmental revenue from the State of Minnesota. This aid had
been increasing at a slower rate prior to 1986 and is expected to
level off in future years. Court fines were up due to an increase in
the number of tickets issued. A decrease in charges for services was
the result of lower engineering and clerical fees on capital projects.
On each project a 109� fee is charged for work by City staff. A lower
level of construction activity in 1986 produced lower fees.
Miscellaneous revenues declined because of lower interest income. The
following table presents an analysis of major revenue and other
financing sources of the Genera 1 Fund for 1986 and compares them to
�985�
General Fund Revenue
of (Decrease)
1986 Total 1985 From 1985
Taxes, Ad Valorem $2,566,220 33.4% $2,444,153 122,067
Intergovernmental revenue 2,866,442 37•3 2,618,957 247,485
Charges for services 965,527 12.6 979,543 (�4,016)
License and permits 411,406 5•3 387,806 23,600
Court fines 224,753 2•9 187,045 37,708
Miscellaneous revenues 318,453 4.1 348,316 (29,863)
Other sources 341,403 4.4 311,926 29,477
TOTAL $7, 694,204 100.0� $7,277,746 416,458
Actual revenues and other financing sources exceeded the 1986 budgeted
amount by $319 ,140.
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Mr. Splinter June 18, 1g87
Expenditures and other uses of funds for general government operations
totaled $7 ,154,524 in 1986 an increase of $326,451 over the previous
year. Expenditure increases over 1985 reflect the addition of a full
time employee in the General Government category and another in Public
Safety. General Gavernment was further increased by the transfer of
the Data Processing Department from Other Uses. In spite of this
transfer, Other Uses only declined slightly because of increased
insrance costs. The following table presents an analysis of major
expenditure functions and other uses of funds of the General Fund for
1986 and compares them to 1985
General Fund Expenditures
Increase
of (Decrease)
1986 Total 1985 From 1985
General Government $1,487,876 20.8� $1,283,050 $204,826
Public Safety 2 288 062 2.0 2 1 8 1 2
3 43, 43 44 19
Public Works 1 54 8 21. 1 60 8 2 1 2
9,5 4 7 ,5 4 1 58
Community Health 45,294 .6 34 326 10 68
,9
Parks and Recreation 1,405,020 19.6 1,389,�75 15 945
Other uses 378,688 5.3 416,937 (38,249)
TOTAL $7 ,154,524 100.0� $6,828,073 $326,451
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Mr
Splinter June 18, 1987
Expenditures and other uses of funds were $504 4 less than
budgted amount.
93 the 1986
Ad valorem tax levies for the current year 1986 and for the two previous
years are summarized and presented below:
1986 1985 19g4
Mill Mill Mill
Tax Levy Rate Amount Rate Amount Rate Amount
City Operations 13.190 $2,853,064 12.799 $2,653,833 13.031 $2,670,680
Debt Redemption 1.716 371,421 1.788 370,801 1.827 374,541
Public Employees�
Retirement 1.710 369 ,611 1.765 365,968 1.685 345,381
TOTAL LEVY 16 .61G $3,594,096 16.352 $3,390,602 16.543 $3,390,602
Assessed Valuation 1986 1985 1984
Real estate $211,964,595 $207 1 122
Non-exempt personal property 4,291 4,276,221 $202'418,627
4,148,726
Fiscal disparities adjustment (2,097,533) (2,134,213) (3,366,456)
TOTAL ASSESSED VALUATION $214,158,978 $209 $203,200,897
Minnesota's Levg Limitation Law was first implemented in 1973 The law
placed a limitation on the amount of increased property tax which a city
can levy. The amount of increase is generally limited to 5� of the
prior year's levy. The law also provides certain mechanisms by which a
municipality may adopt levies outside the levy limitations. The
following table summarizes the City�s compliance with the law for the
years 1983 through 1986:
1986 1985 19g4 1983
Total tax levy $3,594,096 $3,390,602 $3,390,602 $3,202,958
Less special tax levies 1,080,266 953,673 914,199 954,449
Limited LevY $2,513,830 $2,436,929 $2,476,403 $2,248,509
Levy Limitation 3,236,481 3,005,971 2,921,134 2,537,576
UNDER LEVY LIMITATION 722,651 569 ,042 444, 731 289,067
-12-
p
Mr. Splinter June 18, 1987
The State Legis lature enac�ed a"Fisca 1 Disparity Law'� in 1971 which
was not implemented until taxes payable in 1975 because of a constitu-
tional challenge. The law provides for the "pooling" of 409� of all
new commercial and industriai property valuation in the seven county
metropolitan area. Valuation from this ��poo1" is redistributed to
taxing jurisdictions according to specified criteria. The impact of
disparity law on th�e City is shown below. The City has, since the
inception of the law twelve years ago, contributed $18,513,040 in
assessed valuation. The fiscal disparities adjustments for the
thirteen years are as follows:
Year Assessed �Ialue Net Received
Taxes Value Contri- Received Or
Payable buted to ��Pool" From "Pool" (Contributed)
1975 2,355,241 2,816,222 460,981
1976 3,746,879 3,880,301 133,422
1977 3,726,462 3,525,256 (201,206)
1978 4,856,260 3,666,177 (1,190,083)
1979 6,172,992 4,708,800 (1,464,192)
1980 8,086,801 6,254,605 (1,832,196)
1981 9,523,651 7,842,824 (1,680,827)
1982 13,677,348 11,319,718 (2,357,630)
1983 16,832,813 15,395,570 (1,437,243)
1984 21,050,949 17,684,493 (3,366,456)
1985 22,406,979 20,272,766 (2,134,213)
1986 22,990,819 20,893,286 (2,097,533)
1987 24,500,455 23.154.591 (1,345,864)
13 YEAR TOTAL $159,927 $141,414 $(18,513,040)
The complete reporting of the General Fund financial operations and
position can be found in the General Fund Section of this report.
-13-
Mr. Splinter June 18, 1987
DEBT ADMINISTRATION
The ratio of net bonded debt to assessed valuation and the amount of
bonded debt per capita are useful indicators of the City's debt
position to municipal management, citizens, and investors. These data
for the City at Dec,ember 31, 1986, were as follows:
Ratio of Debt to Ratio of Debt to
Assessed Value Present Debt Per
Amount of Present Market Market Value Capita
Net direct
bonded debt $5,447,102 2.38� .63� $179.97
Outstanding general obligation bonds at December 31, 1986 totaled
$10 of which $2,440,000 was issued to provide permanent
financing for water, sanitary sewer, storm sewer and streets. The
repayment of these bonds is provided from the proceeds of special
assessments levied against the benefited property. Included also in
the outstanding G.O. Bonds were $300,000 of G.O. State Aid Street
Bonds which were issued to finance state aid projects and are repaid
from state allotments. Included also were $6,175,000 of G.O. Tax
Increment Bonds which were issued to finance the public costs involved
in the development costs of the Brookwood housing development project
and the Earle Brown Farm redevelopment project and are repaid from
incremental taxes from the City's Tax Increment Financing District.
The remaining $1,720,000 is direct tax supported debt which is repaid
by the proceeds of ad valorem tax levies. During the past year,
$600,000 of general obligation bonds were retired.
Outstanding revenue bonds at December 31, 1986 totaled $270,000.
These are bonds issued in 1963 for improvements to the water utility
and are repaid from the public utilities revenues. During the past
year, $45,000 of revenue bonds were retired.
The City has a current Moody's Investors Service bond rating of �'A-1".
More detailed information about the debt position of the City can be
found in the Statistical Section of this report.
CASH MANAGEMENT
The Investment Fund was established to provide a uniform and consis-
tent means for investing temporary surpluses of individual City Funds.
Each individual City Fund invests in the Investment Fund and that
Fund, in turn, invests these temporary surpluses in obligations issued
by the United States and its agencies, bank certificates of deposits,
repurchase agreements, savings and loan associations' savings certifi-
cates and City of Brooklyn Center construction notes issued to provide
temporary financing for construction in the special assessment funds.
-14-
Mr. Splinter June 18, 1g87
The average yield on investments during the year was 10.00% and the
Fund distributed $2,480,046 in interest earnings to the participating
funds.
SPECIAL REVENUE FUNDS
Federal General Revenue Sharing was estabiished to provide financial
assistance to states and local government. The financial
contributions to local governmental units are based on a formula which
includes per capita income and local tax effort. During 1g86 the
City's allocation totaled $101,861. The City expended $190,000 of
general revenue sharing funds in 1986 This is the end of Revenue
Sharing and the only funds available for 1987 will be the fund balance
of $24,480.
The reporting of all Special Revenue Funds' financial operations and
position can be found in the Special Revenue Funds' Statements Section
of this report.
CAPITAL PROJECTS FUNDS
The Capita 1 Pro jects Fund was estab 1 ished to account for monies re-
ceived from various sources (including transfers from the LCMR and the
Lawcon and the Community De velopment Special Revenue Funds) and
expended on certain major, permanent facilities. A listing of current
capital projects in the Fund can be found in Schedule S-3 of this
report. During 1986 Capital Projects Fund expenditures of $1
were made. The Fund Balance at December 31, 1986 was $2,263,g82. Of
this amount, $404 was reserved for unexpended appropriations,
leaving an unreserved Fund Balance of $1 ,859,591
The Municipal State Aid for Construction Fund was established to
account for monies received from the Minnesota Department of Transpor-
tation and expended for transportation related construction pro ects.
The City expended $1,059,855 of municipal state aid for construction
durin� 1986. The Fund Balance at December 31, 1986 was $4,402,848, of
which��$2,083,857 was reserved for unexpe�ded appropriations or was
restricted to State approved projects, leaving an unreserved Fund
Balance of $2,318,991.
The reporting of these Funds' financial operations and positions can
be found in the Capital Projects Funds' Statements Section of this
report.
PUBLIC UTILITIES FUND
Comparative data for the City's Public Utilities operations for the
past two fiscal years are shown in the following table:
-15-
Mr. S linter
p June 18, 1987
1986 1985
Water Department operating revenue 473 ,279 546 ,817
Sewer Department operating revenue 1,072,190 1,078,708
Water Department op�rating income (233 ,414) (126,230)
Sewer Department operating income (134 ,437) (98,175)
Water Department net income 243,021 372,154
Sewer Department net income 151,173 199,000
Water customers at year end g,787 g�718
Sewer customers at year end 8,791 8,759
The Public Utilities operating revenues are to be used to finance
system maintenance and future expansion and improvements. Water
revenues declined in 1g86 because a rainier than normal summer caused
residents to do less watering of lawns. The complete reporting of the
Public Utilities�financial operations and position can be found in the
Enterprise Funds' Statements Section of this report.
LIQUOR STORES FUND
The City's three municipal off-sale liquor stores earned a combined
net profit of $130,154 for the calendar year ended December 31, 1986
The Liquor Fund transferred $100,000 during the year to the General
Fund to assist in the financing of City operating expenses.� A
condensed comparison of the stores' 1986 operations with those of 1985
follows:
1986 1985
Sales $2,465,749 $2,388,513
Cost of Sales 1,890,311 1,841,870
Gross Profit on Sales 575,43$ 546,643
Operating Expenses 435�763 415,409
Net Operating Income 139,675 131
Interest and Other Income or (Expense) (9,521) (5,909)
Net Income 130,154 125,325
Transfers to the General Fund 100,000 103,500
-16-
Mr. Splinter June 18, 1g87
SPECIAL ASSESSMENT FUNDS
Special Assessment Funds are used to finance and account for the
construction of certain public improvements such as residential
streets, storm sewers, sanitary sewers and water mains which are to be
paid for wholly or �in part from special assessments levied against
benefited property. The Special Assessment Funds are also used to
account for assessments levied against the individual property owners
which are usually paid in installments over a period of years. Con-
struction expenditures of $542, were made from the Fund in 1986
The complete reporting of the Special Assessment Funds' financial
operations and position can be found in the Special Assessments Funds'
Statements Section of this report.
GENERAL FIXED ASSETS
The general fixed assets of the City are those fixed assets used in
the performance of general government functions and exclude the fixed
assets of the Enterprise Funds (Public Utilities and Liquor). As of
December 31, 1986, the general fixed assets of the City amounted to
$33 ,302,009. This amount represents the original cost of the assets
and is considerably less than their present value. Depreciation of
general fixed assets is not recognized in the City�s accounting
system. The Department has an automated fixed asset control system.
The system provides computations of depreciation for all depreciable
fixed assets in such manner that information is readily available for
management purposes. The complete.reporting of the General Fixed
Assets accounting can be found in the General Fixed Asset Statement
Section of this report.
INDEPENDENT AUDIT
Section 7.12 of the City Charter requires that the City Manager�s
annual report to the Council concerning the entire financial
operations of the City be audited. This requirement has been complied
with and the auditor's opinion has been included in this report.
CERTIFICATE OF ACHIEVEMENT
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.
-17-
Mr. Splinter June 18, 1987
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 Brookyln Center for its comprehen-
sive annual financial report for the fiscal year ended December 31,
1985
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.
ACKNOWLEDGEMENTS
The preparation of this report on a timely basis could not be
accomplished without the efficient and dedicated services of the
entire staff of the Department of Finance. I would like to express my
appreciation to all members of the Department. I would also like to
thank the Mayor, Counci 1 members and the City Manager for their
interest and support in planning and conducting the financial
operations of the City in a responsible and progressive manner and the
independent auditors for their valuable and willing assistance.
Respectfully submitted,
Q� W'
Paul W. Holmlund
Director of Finance
PWH:ps
-18-
Certif icate f
0
Achievement
f or Excellence
in Financlal
Ke ortin
p g
Presented to
City of
Brooklyn Center, Minnesota
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
December 31, 1985
A Certificate of Achievement for Excellence in Financial
Reporting is presented by the Govemment Finance Officers
�lssoaation of the United States and Canada to
governmental units and public employee retirement
systems whose comprehensive annual finantial
reports (CAFR's) are judged to substantially
conform to program standards.
pGE Ofp
�a F9
�U1N D SIAIES� y
�NO o President
GN�DA
CdIPoIGipN
S
CN�[►6
I
Executive Director
-19-
CITY OF BROOKLYN CENTER
CERTIFICATE OF ACHIEVEMENT FOR EXCELLENCE
IN FINANCIAL REPORTING
The Government F�inance 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, Minnesota for its comprehensive annual financial
report for the fiscal year ended December 31 1985
In order to be awarded a Certificate of Achievement, a govern-
mental unit must publish an easily readable and efficiet�tly
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.
-20-
SEIFERT, BETTS 8. CO., LTD.
CERTIFIED PUBLIC ACCOUNTAN75
u
bl
To the I�orable Mayor and
Me�nbers of the City Council
G�ty of �ooklyn C,enter, �ta
We have e�madned the general p�u�pose fir�ancial statements of the C�TY OF B�YN CDV'iIIt,
MIIVIVE�Ii'A, and the canbining, individual ftmd, and accamt group financial staterents of
the City.as of and far the year ended December 31, 19�6, as listed in the table of
contents. Our exanris�atiori was rt�ade in accordance with generally accepted auditing
standards and, ac�ording�Y, included such tests of the accoimting records and surh other
auditing proced�es as we considered necessary in the circuistanc.es.
In our opinion, the general purpose financial. staten�ts referred to above present fairly
the fi►�ancial position of the CTTY OF BRCI�YI� C�TIIIt, NIINNF�fA, at L�cenbex� 31, 1986,
and the resul.ts of its operations and c.hanges in financisl position of its proprietary
fund types for the year then ended, in conformity with genexally accepted accoimting
principles applied on a basis consistent with that of the preceding yeer. Also, in air
opinion, the co�nbining, individual fund, and acccxmt group financi.a]. statenents referred
to above present fairly the financial position of each of the individual funds and account
groups of the CITY OF BROC�Q,YN G'INTII�, M1NNE�'1TA at D�cernber 31, 19�fi, and the results of
operatio�,s of such fimds and the cha�zges in finar�cia]: position of irxlividual proprietary
funds for the year then ended, in confoxndty with generally accepted accounting principles
applied on a basis c�sistent with that of the preceding year.
Our exam�r�ation was made for the purpose of fornring an opinion on the general purp�se
finar�ci.al statenents taken as a whole and on the canbining, individual fund, and
indi.vidual account gro�p financial. stateme�ts. The acca�anying financial infom�ation
listed as supporting schedules in the table of contents (Schedules S-1 through S-7) is
presented for the purposes of addi.tional analysi.s and is not a required pert of ttte
financi.al statgnents of the QTY C� �YN CIIVTIIt, N�QfA. Siych infornBtion has been
subjected to the auditing procedures applied in the exa�►dnation of the general p�rp�se,
canb individual. fund, and individual accoimt group finaricial state�nents and, in our
opinio�, is fairly stated in all material respects in relati� to the financial stat:ene�ts
of e�h of the respective individual fimds and accrnmt groups, taken as a whole.
The accompenying statistic.al infoncntio� presented in Tables 1 through 16 are not
necessary for a fais presentati� of the fi.nancial. statenents, but are presented as
additional stati.stical data. 'Iltie statistical inforn�ation tables wpxe not a�di.ted by us
�AMES W. SEIFERT c�n and accordingly, wie do not express an opinion o� them.
GEORGE D. BETfS, CPA
t
o� t
KENNETH P. �AEB. CPA
LARRY 5. �ACOBSON, CPA DL ry Tr}
LARRY S. POPPLER, CPA ,S �r� i� W� L111�
�ANE L. HOYl1M. CPA
CINDY K. HAYES, CPA t ,t
DOUGLAS F. BERGSTROM, CPA r 1'L11T1�O�
phy 29,1987
-21-
612/546-3306
7035 Wayzata Blvd. Suite 100 Minneapolis, Minnesota 55426-1777
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.
58L`LLL`l8� 99l`9L£`88$ £60`9Z5`8 60o`ZOE`££$ l.t�tt`1Z 8lh`£00`lc� L91.`£I`9 £tN`9h9`L L59`�1.`l £Ll`h6g`£ 656`t�9`5 �v T�L
9�`£hZ`L £El`8hL`9 ££l`BttL`9
�I �`J �3 FaP?� a4
�`�`L �L�i �T^�S �4aQ �F aTQ�[�
Ol0`9b�`tT' 9L9` l lh`tr 9L9` llh`tt' P��� �'I
55L`1`C`Zh h£6`SE9`6tt (£l �t) �?T� `�'w��
600 a0E Sz6 9�
£Zl `OQtt`�( l00`Olh`h 100b1h`h P� P��?��ll
1AQ`£6l Slf`£6l Sl£`�61 a a
g5l `zg g�Z` �g 8bZ` l8 s�a� Preda'�
1£S`1bZ 9hL'£7� t�ac�7� ZLZ`l5 (3l �l) �R� we �?�I
S60`Sl$`l lhZ`L09`l 99Z`Ell S�`86E`L �QL`£5 S�8`lh
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tF9`L95`Z Ltttt`6ttZ`Z 69l`6zL`Z 81Z`tE N
Z90`l6E 8L.L`9hh 8B9`£ 68Z`l£ 90E`L fiC8`£Oh
ZL�`6(� Zgl`66l tl£l`£ll OOS`� £9�`Ol 59h`1h
(���TL� 3 �'L4�►?�i
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hE6 £Ll EZ 1£6 6� hZ 65L £Z l9Z l68 hll hlZ h$ 61.h ZE8 5$ t�£ 8hL l$� Z59 561. LL6 h t3l s�I
566`h g6`h oCE`h 9E9 �e4 P� �I `r' II
�v
SB6l 98b1 �Q �'fl P�?3 ��`dfT ��3 �'V ���d �F�S a��I Tg��D
`L£ �I i��0 I'��D l��S iRI� �Q ��S
�A�,U a�thsac�,1) sc�a{� �txbooi/ �SL P�R3 �CL F�x13 �L P�13 i�
sie'� ��,3 �Sae�a?.,aia.r�
9861 l£
P��D) ,E�S �ld'1HS �&�DD
sc�a�.� �cZ�ooy Ptae sad+ZL �g13 I'T�
l ,LISIF�Q �lsl�fi 3� ��TJ
City of E§voklyn �te^ �T!'
All Flnd Tynes A000�r�t Q'�s
Q�BII�ID BAiANCE SEFEf Q'ntin�ed f2tim �^iar pege)
Deomlbe" 31, 1986
Prnpr'iet�rY Ffduciary Totals
(3T✓e'Yma7tal Flxrl Types Ftad lypes F1nd �yypes A000trrt (3ro��s (N�xzardm Qily)
�ecial Debt CaPital Special (3ensal (la'�eral La�B- Daom�e� 31,
(3�a1 A�aue Sevioe Projeets Ass�s Fht�"i9e Agex.y Fi� Asse4�s 'I�rm Debt 19E6 1985
r• T�}3n. 7'rrFS Ai�ID Fit�ID E�J11Y
Liabilities
Aocou�ts p�}•able �l0,iq0 3J,2BT 271,318 217,247 96,250 815,512 563,321
�txacts p�yabLe 8,391 643,aD9 134.2�9 '1�,839 87,39�+
A�e to atltier flrrls 3��9�� i62,03�1 5,b97 65,Z96 7,3ik99 36,3b3 43,396 3T7,� 947,O�Zi
qaxued e�cpais�/�itta� 160,869 �,�31 -15,9�9 780,351 216,3�
nocn.rsd vacatim sick pay 62,519 18,o6� 312,993 �13,193 356�323
Ca'Btr�tirn laars pe4yable 11,`�3 836 907,611 653,297
Intaflyd lce� 286,004 286,004 296,648
De1'erred reve�ae �,ZTB 2,229,169 2 2,5b7r65�►
l�r�en�e borrls payab]e Z10.00D ZT0,000 315,000
oapral a615�tirne bmds pqyab]e 8.195,000 8,195,OOO B,�tT0,0oD
Special as�a'�ts l��ds p�rable 2,�I0,000 2,440,000 2,755,000
W Asses�a�ts m City RroP�'tY �,500 �,500 �.243
Total Liabilities 539,09D 23�+.181 5,b97 979,813 5�'T89 �/6,318 Zl,�+'T o 8,528.�93 16,980,483 17,293,231
Caitr�ibuted aepital 10,596,98D 10,596,980 10,513,674
Irivested in ge�eral fixed as9ets 33,3Q2.0�9 33,3D2,009 Zb,670,085
I�tair�ed eart�irg,s:
F�ved:
R�str'ieted as�ets Z18,�6 278,266 3D7,979
D�t retir+a�t 131,7� 131,'T3 133,490
�tim 0 38,fF�+
y,�{ty� �i� 62�,000 G3�,000 62�,000
P]ant �im �4,000,000 4,000,000 4,000,000
U'mese�ved 4�500,099 �,500,059 �+,005�589
FLrYi �larnes:
F�ved:
p�,-tricted assets 2,016,387 2,016,387 2,320,522
Trniaitori� and prepaid ecper�es 51,212 51,212 49,234
�nes 1Fj,611 47,611 13,119
Debt sevice 1,t185,'!g 980,370 2,465,5� 2,894,687
[.t�pa�ded �jatia�s 471,861 112,032 583,893 3,933,Z7�+
Ura�aved:
Lt�esigated (Alote 19) �,997,056 3,6��986 294,805 4,1'78,582 3��4?3 12,�2,006 8,9���7
Total F1a�d Fquity 5 ,095,879 3,659,98b �,7T9,96o b,666,83� 763�979 �,1z7,04o 0 33,302,009 0 71,395,683 b4,484,�4
TvPAt.. LIABbTP� At�ID FU�ID E1�TTfY 5,634,959 3,8�4,173 1,'T�,6S7 7,64b,b�►3 6,5F,3,767 $21,OD3,418 Z7,447 $33,3�2,009 8,5�,093 �,3T6,166 $81,'T'f7,'TPl
(See rntes to firar�ial stateoazts)
City of Brooklyn Center EXHIBIT 2
All Governmental Fund Types
CONIDINED STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALAN(ES
Year Ended December 31, 1986
Totals
Memorandum Only
Special Debt Capital Special
General Revenue Service Projeets Assessments 1986 1985
Revenues
�Taxes and special assessment� (current year) 2,566,220 57,383 698,057 656,862 3,978,522 3,75�►,101
Licenses and permits 411,406 411,406 u43,789
Intergovernmental 2,866,442 279,779 99,076 651,301 3,896,59$ 4�529,090
Charges for services 965,527 28,561 99�,088 979,5�3
Court fines 224,753 224,753 187,045
Interest 292,39� 375,605 140,234 589,128 339,153 1,736,514 1,�195,967
Sale of land 529,600 138,759 668,359
Miscellaneous 26,059 27,843 78,561 132,463 193,834
Tota1 Revenues 7,352,801 1,298,TT1 937,367 1,457,749 996,015 12,042,703 11,583,369
Expenditures
G�rrent:
iv General government 1,487,876 1,523,566 3,011,442 3,831,281
Public safety 2,288,062 2,288,062 2,143.,8�+3
Streets and high�►ays 1, 549 58u 1, 5�49 584 7, 560 8l►2
Coumunity health services 45,294 �5,29u 34,326
Parks and recreation 1,405,020 T,405,020 1,389,075
Non-Departmental 378,688 13,617 2��40,863 542,534 2,683,397 1,19u,0 3
Capital outlay
Debt service:
Principal retirement 275,000 275,000 255,000
Interest and fiscal eharges 507,558 251,776 759,334 534,025
Total Expenditures 7,15�,524 1,523,56b T96,175 2,140,863 79�+�310 12,u09,438 11,359,�02
Excess/Deficiency(-) Aevenues Over Expenditures 198,277 -224,795 141,192 �i83,114 201,705 -366,735 �3,967
Other Financing Sourees or Uses(-)
Proceeds of General Obligation Bonds 5
Operating transfers in (Note 10) 341,�03 ��2�813 85,000 21,359 377,957 968,532 2,22b,369
Operating transfers out -407,023 -5,697 -417,526 -830,246 -2,122,869
Total Other Financing Sources or Uses(-) 3�I�,403 -264,210 79,303 r -396,167 377,957 �38,28G 5,270,864
Excess of Revenues and Other Sources Over or
Under(-) Expenditures and Other Uses r 539,680 -489,005 220,495 -1,079,281 579,662 -228,449 5;49u,83�
Fund Balance January 1 4,556,199 4,�u8�991 �,559,465 7,7�+6,111 184,317 18,195,083 12,700,252
Fund Balance December 31 5,095,879 3,659,986 1,779,960 6,666,830 $�763,979 $�7,966,63�+ �18,195,083
(See notes to financial statements)
�r �s r r �r r r�
City of Brooklyn Center EXHIBIT 3
General and Special Revenue Funds
COMBINED STAT�NT OF REVENUFS, EJ�'ENDITURES, AND
CHANGFS IN FUND BALANCFS BUDGET (GAAP BASIS) AND ACTUAL
Year Ended December 31, 1986 I
General Fund Special Revenue Funds
Aetual Over Actual Over
Under(-) Under(-)
Budget Actual Budget Budget Actual Budget
Revenues
Taxes 2,582,580 2,566,220 16,360 55,000 57,383 2,383
Licenses and permits 268,365 411,406 1�43,041 0
Intergovernmental 2,8u7,433 2,866,442 19,009 280,861 279,779 -1,082
Charges for services 968,430 965,527 -2,903 32,000 28,561 -3,439
Court fines 175,000 224,753 �19,753 0
Miscellaneous 191,200 318,453 127,253 921,800 933,048 11,248
Total Revenues 7,033,008 7,352,801 �319,793 1,289,661 1,298,77� 9,110
EScpenditures
N CIlI'i'eL1L
General government 1,609,750 1,487,876 -121,874 1,590,100 1,523�566 �i6,534
Public safety 2,445,188 2,288,062 -157,126 0
Streets and highways 1,696,517 1,549,584 -146,933 0
C�unity health services 48,722 45,294 -3,u28 0
Parks and recreation 1,508,565 1,405,020 103,545 0
Non-Departmental 350,275 378,688 28,413 0
Total Expenditures 7,659,017 7,154,52� -504,4g3 1,590,100 1,523,566 -66,534
Excess or Deficiency(-) of Revenues Over Expenditures -626,009 198,277 82�1,286 -300,439 -224,795 75,64�
Other Financing Sources or Uses(-)
Operating transfers in 342,056 341,403 -653 145,000 142,813 -2,187
Operating transfers out 0 -425,000 -407,023 17,977
Total Other Financing Sources or Uses(-) 342,056 341,403 -653 -280,000 -264,210 15,790
Excess or Deficiency(-) of Revenues and Other N ~N ~M w
Sources Over Expenditures and Other Uses -283,953 539,680 823,633 -580,439 -l►89,005 91,�13�+
Fund Balance January 4,556,199 �+,556,199 0 4,148,99� 4,1�18,991 0
M__�
Fund Balance December 31 4,272,246 5,095,879 $23,633 3,568,552 3,b59,98b 91,�►3�
(See notes to financial statements)
City of Brooklyn Center EXHIBIT 4
Proprietary Funds
CONIBINED STATEMENT OF REVENUFS, EXPENSES, AND CHANGES IN RETAINED EARNINGS
For the Year Ended December 31, 1986
With Comparative Totals for the Year Ended December 31, 1985
Enterprise Funds__
Municipal Public Totals
Liquor Utilities
Fund Fund 1986 1985
Operating Revenues
Gross margin on product
sales 575,�+38 575,438 546,6�13
Charges for services 1,545,469 1,545,�169 1,625,525
Total Operating Revenues N 575,�+38 �1,545,469 2,120,907 2,172,168
OperatingExpenses---
Persona.l Services 266,170 257,171 523,341 �+82,539
Contractual services 99,17�4 1,20�+,393 1,303,567 1,265,7�2
Supplies and materials 6,907 28,917 35,824 32,884
Heat, light, power 21,357 122,706 144,063 139,�50
Depreciation 15,689 300,133 315,822 312,447
Other 26,�+66 26,466 32,577
Total Operating Expenses 435,763 1,913,320 2,349,083 2,265,339
Operating Income 139,675 -367,851 -228,176 -93,171
Non Revenues or Fxpense(
Interest earned 8,914 760,701 769,615 796,904
Other revenue or expense 6,372 10,286 16,658 17,333
Interest and fiscal agent fees -24,807 -12,399 -37,206 -24,587
Non-Operating Totals -9,521 758,588 7�►9,067 789,650
Income Before Operating
Transfers 130,154 390,737 520,891 696,�79
Operating Transfers In or Out(-) -100,000 3,�57 96,5�3 -103,500
Net Income 30,154 39�,194 42�,3�8 592,979
Retained Earnings January 1 256,793 8,848,919 9,105,712 8,512,733
Retained Earnings December 31 286,947 9,2�3,113 9,530,060 9,105,712
(See notes to financial statements)
-26-
City of Brooklyn Center EXHIBIT 5
Proprietary Funds
CONiBINED STATEMENT OF CHANGES IN FINANCIAL POSITION (Continued next page)
For the Year Ended December 31, 1986
With Comparative Totals for the Year Ended December 31, 1985
Enterprise Funds
Municipal Public Totals
Liquor Utilities
Fund Fund 1986 1985
Sources of Financial Resources
Operations:
Net income for year 30,154 39�+,19� �+2��3�+8 592,979
Add: Items not requiring
current outlay
depreciation 15,689 300,133 315,822 312,447
Total Resources Provided
By Operations �45,843 b9�,327 7�+0,170 905,�+26
Contributions toward
construetion 83,306 83,306 238,183
Increase in long-term debt 0 286,004
Decrease in restrieted assets 70,122 70,122 2,716
-----8--- 8 1 2 2
Total Sourees 45,8�13 8�7,755 93,59 3,3 9
Use of Financial Resources
1 Purchase of properties 16,148 �30,263 �46,�411 760,156
Payments to retire bonds 11,585 �5,000 56,585 �5,000
Amortization of deferred
�ain on sale of assets 0 2,740
Total Uses 27,733 �+75,263 502,9�6 807,896
Net Increase or Decrease(-) in
Working Ca.pital 18,110 372,�92 390,602 624,433
(See notes to financial statements)
-27-
City of Brooklyn Center EXHIBIT 5
Proprietary Funds
CONlBINED STATEMENT OF CHANGFS IN FINANCIAL POSITION (Continued from
For the Year Ended December 31, 1986 prior page)
With Comparative Totals for the Year Ended December 31, 1985
Enterprise Funds
---------p----------
Munici al Public Totals
Liquor Utilities
Fund Fund 1986 1985
Elements of Increase or
Decrease(-) in Working
Capital
Temporary investments -28,190 301,230 273,040 710,252
Aecounts receivable 505 9,672 10,177 -4,87�+
Assessments receivable -577 577 -2�687
Due from other funds 0 -25,702
Due from other
governments 67,810 67,810 121,713
Inventories 20,273 2,098 18,175 7,8��
Prepaid expenses 1,93$ 3,198 5,136 -15,967
Acerued revenue -432 -432 -1,7$$
Aceounts payable 3,251 120,451 123,7�2 -106,611
Contracts payable 10,62�4 -102,882 -92,258 -37,637
Due to other funds g1 108,211 108,302 22,25�4
Due to other
goverruaents 5, 792 5, 792 5, 79 2
Current portion of
long- debt 941 2,263 3,20�4 10,6�4
Accrued Liabilities 10,559 10,559 25,898
Net Increase or Decrease( in
Working Capital 18,110 372,�92 390,602 624,433
(See notes to financial statements)
-28-
i
Cit� of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
December 31 1986
Note 1: Summary of Si�nificant Accountin� Policies
A. Fund Accountin�
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-baiancing
accounts that comprise its assets, liabilities, fund
equity, revenues, and expenditures, or expenses, as ap-
propriate. Government resources are allocated to and ac-
counted 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 Special 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 Service 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 acquisi-
tion or construction of major capital facilities other than
those financed by proprietary funds or Special Assessment
Funds.
Special Assessment Funds Special Assessment Funds are used
to account for the financing of public improvements or
services deemed to benefit the properties against which
special assessments are levied.
-29-
CitY of Brookl n Center
NOTES TO FINANCIA� STATEMENTS
Dec'ember 31, 1986
Note 1: Summary of Si�nificant Accountin� Policies(continued)
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 th� costs (expenses, including depreciation) of pro-
viding goods or services to the general public on a continu-
ing basis be financed or recovered primarily through user
charges,
FIDUCIARY FUNDS
Agency Funds Agency Funds are used to account for assets
held by the City as an agent for other government units.
B. Fixed Assets and Lon�-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 de-
creases (expenditures and other financing uses) in net
current assets. Accordingly, they are said to present a
summary of sources and uses of °available spendable re-
sources" 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, are capitalized along with other general fixed
assets. No depreciation has been provided on general fixed
assets.
All fixed assets are valued at historical cost or esti-
mated historical cost if historical cost is unavailable.
Donated fixed assets are valued at their estimated fair
value on the date donated.
-30-
Cit of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
i December 31, 1986
Note 1: Summary of Si�nificant Accountin� Policies(continued)
The fixed assets of the Liquor and Public Utilities
funds are depreciated using the straight-line method over
the estimated useful lives of the assets. The estimated
I I, i useful lives are as follows:
PUBLIC UTILITIES
Water Sewer Liquor
Mains/Lines 100 years 100 years
Structure/Improvements 30 years _25 years 3-10 years
Equipment 5-25 years 3-10 years
Public Utility assets financed by special assessments
are recorded as contributions.
Long-term liabilities expected to be financed from
governmental funds are accounted for in the General Long-
Term Debt Group, not in the governmental funds. The single
exception to this rule is for special assessment bonds,
which are accounted for in Special Assessment Funds.
The two account groups differ from "funds" in that
they are not involved with measurement of results of opera-
tions. They are concerned only with the measurement of
financial position.
Because of their spending measurement focus, expenditure
recognition for governmental fund types is limited to
exclude amounts represented by noncurrent liabilities.
Since they do not affect net current assets, such long-term
accounts are not recognized as governmental type expendi-
tures or fund liabilities. They are instead reported as
liabilities in the General Long-Term Debt Account Group.
C. Basis of Accountin�
Basis of accounting refers to when revenues and expen-
ditures or expenses are recognized in the accounts and re-
ported in the financial statements. Basis of accounting
relates to the timing of the measurement made, regardless
of the measurement focus applied.
All governmental funds and agency funds are accounted
for using the modified accrual basis of accounting. This
means that their revenues are recognized when they become
measurable and available as net current assets. Special
assessments principal and interest and property taxes are
considered "measurable" when in the hands of intermediary
-31-
Cit,y_ of BrooklYn Center
NOTES '�O�INANCIAL STATEMENTS
December 31 1986
Note 1: Summar,y of �nificant Account Policies(continued)
collecting governments and are recognized as revenue at
that time. Anticipated refunds of such taxes are recorded
as liabilities and reductions of revenue when they are
measurable and their validity seems certain. Otherwise,
taxes, licenses and permits, intergovernmental charges for
services,�court fines and miscellaneous revenues are con-
sidered measurable and available when received. Investment
earnings are recorded as earned since they are measurable
and available. Special assessments installments not yet
payable are reflected as deferred revenues.
Expenditures are generally recognized under the modi-
fied accrual basis of accounting when the related fund
liability is incurred. Exceptions to this general rule
include 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 incurred. Unbilled Water and Sewer Fund
utility service receivables are recorded at year end based
on a pro rata share of actual subsequent billings.
Fund Measurement Basis of
Fund Type Categories Focus Accounting
General Governmental Spending Mod. Accrual
Special Revenue Governmental Spending Mod. Accrual
Debt Service Governmental Spending Mod. Accrual
Capital Projects Governmental Spending Mod. Accrual
Special Assessment Governmental Spending Mod. Accrual
Enterprise Proprietary Capital Accrual
Maintenance
Trust and Agency:
Agency Fiduciary Mod. Accrual
D. Bud�ets and Bud�etar,y Accountin�
The City follows these procedures establishing the bud-
getary data reflected in the financial statements:
1. By the first regular Council meeting in September,
the Cit Mana er submits to the Cit Council ro osed
Y g Y
P P
operating budgets for the fiscal year commencing the
following January. The operating budgets include ex-
penditures and the means of financing them.
-32-
City of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
December 31, 1986
Note 1: Summary of Si�nificant Accountin� Policies(continued)
D. Bud�ets and Budgetary Accountin (continued)
2. Public hearings are conducted to obtain taxpayer
comments.
3. The budgets are legally enacted through passage of
a resolution by the City Council not later than the
first week of October.
4. The City Council must authorize transfer of bud-
geted amounts between departments within any fund.
5. Supplemental appropriations may be made during the
year by the City Council. These amounts must be
financed by funds from the contingency reserve set up in
the general fund or by additional outside revenues.
6. All budget amounts lapse at the end of the year to
the extent they have not been expended.
7. Formal budgetary integration is employed as a
management control device during the year for the
General Fund and Special Revenue Funds. Formal budge-
tary integration is not employed for Debt Service Funds
because effective budgetary control is alternatively
achieved through general obligation bond indenture pro-
visions. Budgetary control for Capital Projects and
Special Assessment Funds is accomplished through the
use of project controls.
8. Budgets for the General and Special Revenue Funds
are adopted on a basis consistent with generally accept-
ed accounting principles (GAAP).
9. Budgetary control is maintained at the expenditure
category level within each activity. Budgetary control
is maintained in compliance with the City Council's di-
rections. City departments are not allowed to exceed
budgetary expenditure totals for the department.
10. Budgeted amounts are as originally adopted, or as
amended by the City Council. Individual amendments
were not material in relation to the original appropri-
ations.
-33-
Cit� of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
December 31, 1986
Note 1: Summar of Si�nificant Accontin Policies continued
Y
E. Cash and Temporary Cash Investments
The City has established guidelines under which in-
vestments are made to maximize returns and insure the
safety of the principal. These guidelines meet the re-
quirements of Minnesota Statutes 471.56, 475.51 and 475.66.
All City deposits and investments are made in accordance
with these guidelines.
Deposits: The City maintains deposits at those depository
banks authorized by the City Council, all of which are
members of the Federal Reserve System.
Deposit balances at December 31 1986:
Carrying
Securities Type Credit Risk Category Amount
U.S. Government
Securities $22,937,007 $22,937,007
Commercial Paper 1, 904,316 1,904,316
Repurchase
Agreements 2,000,000 2,000,000
Total Investments $26,841,323 $26,841,323
Summary:
Deposits 184,107
Investments 26,841,323
Change Funds 4,935
Total Cash and Temporary Cash Investments $27,030,
The City's investments are categorized above to give an in-
dication of the level of 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 unreg-
istered investments for which the securities are held by
the broker�s or dealer's trust department or agent in the
City's name. Category 3 includes uninsured and unregister-
ed investments for which the securities are held by the
broker or dealer, or by its trust department or agent, but
.not in the City's name.
-34-
Cit� of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
December 31 1986
Note 1: Summary of Si�nificant Accountin,� Policies(continued)
Bank Carrying
Balances Amount
(1) Insured or collateralized by
securities held by the City or
its agent in the City's name $189,042
(2) Collateralized with securities
held by the pledging institution�s
trust department in the City�s name $26,84�
�3) Uncollateralized or collateralized
with securities held by pledging
institution, but not in the City's
name
Total Deposits $189,042 $26,841,323
Minnesota Statutes require that all City deposits be protected by in-
surance, surety bond, or collateral. The market value of collateral
pledged must equal 110� of the deposits not covered by insurance or
bonds. (1409� in the case of mortgage notes pledged)
Authorized collateral includes the legal investments described below,
1 as well as certain first mortgage notes, and certain other state or
local government obligations. All securities pledged as collateral
are held in safekeeping by the City Treasurer or in a financial in-
stitution other than that furnishing the collateral.
Investments.
The City also invests 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.
(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.
I -35-
CitY of Brooklyn Center
NOTES �0 FINANCIAL STATEMENTS
December 31, 198b
Note 1: Summary of Si�nificant Accountin� Policies(continued)
(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 ex-
ceeding $10,000,000, a primary reporting dealer in U.S. Govern-
ment securities in the Federal Reserve Bank of New York, or
certain Minnesota securities broker-dealers.
-36-
CitY of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
December 31, 1986
Note 1: Summary of �nificant Accountin� Policies(continued)
F. Inventor,y
Inventory is valued at the lower of average cost or
market based on physical counts. Inventory in the General
Fund consists of expendable supplies held for consumption
and is equ�lly offset by a fund balance reserve. The cost
of inventory is recorded as an expenditure at the time in-
ventory is purchased in the General Fund, and as an expense
when consumed in the proprietary fund types.
G. Encumbrances
Encumbrances accounting, under which purchase orders,
contracts, and other committments for the expenditure of
monies are recorded in order to reserve that portion of the
applicable appropriation, is employed. Encumbrances out-
standing at year end are reported as reservations of fund
balances, since they do not constitute expenditures or
liabilities. They are reappropriated in the succeeding
1 year budget.
H. Comparative Data
Comparative totals for the prior year have been pre-
sented in the accompanying financial statements in order to
provide an understanding of changes in the City's financial
position and operations. However, comparative (i.e., pre-
sentation of prior year totals by individual funds) data
have not been presented in each of the statements since
their inclusion would make the statements unduly complex
and difficult to read.
I. 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 change
in financial position in conformity with generally accepted
accounting principles. Neither is such data comparable to a
consolidation. Interfund eliminations have not been made in
the aggregation of this data.
-37-
City of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
December 31, 1986
Note 1: Summary of Si�nificant Accountin� Policies(continued)
Pr r T
J. ope ty ax
The City Council annually adopts a tax levy and certi-
fies it to the County for billing and collection prior to
November 15 of the preceding year. Taxes become an en-
forceable Tien on the property on January 1. The County is
responsible for billing and collecting all property taxes
for itself, the City, the local School District and other
taxing authorities. These taxes are payable (by property
owners) by May 15 and October 15 of each calendar year.
They are collected by the County and remitted to the City
by approximately each subsequent July 15 and December 15•
Additionally, delinquent collections are remitted to the
City with each settlement. The City has no ability to
enforce payment of property taxes by property owners. The
County possesses this authority.
Taxes payable on homestead property (as defined by
State Statutes) are partially reduced by a homestead credit.
This credit is paid to the City by the State in lieu of
taxes levied against homestead property. The State remits
this credit in six equal installments in July through
December each year.
The City recognizes property tax revenue when it be-
comes both measurable and available to finance expenditures
of the current period.
K. Special Assessments
Special assessments are levied against the benefited
properties for the assessable costs of special assessment
improvement projects in accordance with State Statutes. The
City usually adopts the assessment rolls when the individual
projects are complete or substantially complete. The
assessments are collectible over a term of years generally
consistent with �the term of years of the related bond issue.
Collection of annual installments (including interest) is
handled by the County in the same manner as property taxes.
Property owners are allowed to prepay total future install-
ments without interest or prepayment penalties.
The City recogn'izes special assessment revenue when it
becomes both measurable and available to finance bonded
debt. Revenue is recognized over the term of the assessment
as it becomes currently receivable. The remaining balance
of deferred special assessments receivable is offset with a
deferred revenue because they are not known to be available
to finance current expenditures.
-38-
i
City of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
December 31 1986
Note 1: Summar,y of �nificant Accountin,� Policies(continued)
K. Special Assessments(continued)
Once a special assessment roll is adopted, the amount
attributed to each parcel is a lien upon that property until
full payment is made or the amount is determined to be ex-
cessive by the City Council or by court action. If special
assessments are delinquent for a State Statute-determined
number of years, the property is subject to tax-forfeit sale
and the first proceeds of that sale (after cost, penalties,
and expenses of sale) are remitted to the City in payment of
delinquent special assessments. Generally, the City will
collect the full amount of its special assessments if not
adjusted by City Council or court action. Accordingly, no
allowance for potentially uncollectible assessments has
been provided.
L. Local Government Aid
Local government aid is provided to the City by the
State as a shared tax based upon a statutory formula and
without spending restrictions. Payment from the State is
generally received during each calendar year for that
calendar year. The City recognizes local government aid
revenue when it becomes both measurable and available to
finance current operations.
M. Grants
The City receives various Federal, State and other
grants, the purpose of which is to fund specific City ex-
penditures.
The City also receives Federal Revenue Sharing and
other general purpose grants. These grants are recognized
as revenue in the period to which the grant applies (See
Note 10).
N. Severance and Vacation Pay Policies
The City pays employees severance pay upon termination
of employment based on accumulated sick leave and accrued
vacation. Accruals are stated in the various funds.
-39-
Cit of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
December 31, 1986
Note 2: Reportin� Entity
Beginning with the year ended December 31, 1983, the City
implemented National Council on Governmental Accounting
Statement No. 3, Definin� the Governmental Reportin�
i Entity. In accordance with G.A.S.B. pronouncements, �he
financial s a u s
t tements include all funds, account gro p,
departments, agencies, boards, commissions, and other or-
ganizations over which City officials exercise oversight
responsibility.
Oversight responsibility includes such aspects as appoint-
ment of overnin bod members bud et review a roval of
g g Y g AP
property tax levies, outstanding debt secured by City full
faith and credit or revenues, responsibility for funding
deficits, and others.
As a result of applying the entity definition criteria of
the Governmental Accountin Standards Board certain organ-
g
iza i 't s fi-
t ons have been in r x luded from the Cl
cluded o e c y
nancial statements as follows:
Included•
Housing and Redevelopment Authority in and for the City of
Brooklyn Center (HRA).
HRA was created by the City to provide housing and
redevelopment assistance to Brooklyn Center citizens.
The HRA provides this assistance through the admini-
stration of various programs.
-40-
CitY of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
December 31 1986
Note 2: Reportin� Entity(continued)
Excluded:
Brooklyn Center Fire Relief Association
This association is organized as a non-profit organi-
zaticsn by its members to provide pension and other
benefits to such members in accordance with Minnesota
statutes. Their boards of directors are appointed by
the membership of the association. All funding is con-
ducted in accordance with Minnesota statutes, whereby
state aids flow to the association, tax levies are de-
termined by the association and are only reviewed by
the City, and the association pays benefits directly to
its members. (See Note 6 for disclosures relating to
the pension plan operated by the association.)
Independent School District No. 286 (Earle Brown)
Independent School District No. 27g (Osseo)
Independent School District No. 281 (Robbinsdale)
Independent School District No. 11 (Anoka)
Independent School District No. 287 (Suburban Hennepin
County Area Vocational
Technical Institute)
The Districts, like all school districts in Minnesota, are
completely independent of any other governmental entity.
They have their own elected. Board of Education, levy their
own taxes and prepare their own financial reports.
-41-
City of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
December 31, 1986
Note 3: Lon�-Term Debt
The following is a summary of bond transactions of the
City for the year ended December 31, 1986:
Debt Public Special
Service Utilities Assess.
Fund Fund Fund Total
Bonds payable-
January 1 $8,470,000 $315,000 $2,765,000 $11,550,000
Bonds issued -0-
Bonds retired (275,000) (45,000) (325,000) (645,000)
Bonds Payable-
December 31 $8,195,000 $270,000 $2,440,000 $10,905,000
$1,779 is available in Debt Service Funds for pay-
ment of General Obligation Bond principal and interest.
In addition to the bond transactions, sick and vacation
accruals increased from $277,878 in 1985 to $3�2,593 in
1986 and assessments on City property decreased from
$55,243 in 1985 to $20,500 in 1986.
General Oblipation Bonds
General Obligation Bonds are recorded in the General
Long-Term Debt Group of Accounts and are backed by the full
faith and credit of the City.
Special Assessment Bonds
These bonds are recorded as a liability in the Special
Assessment Funds and are payable primarily from special
assessments levied and collected for local improvements.
The City has a contingent liability relating to a pledge of
full faith and credit on the Special Assessment Bonds. The
general credit of the City is obligated only to the extent
that liens foreclosed against properties involved in the
special assessment districts are insufficient to retire out-
standing bonds.
-42-
CitY of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
December 31 L 1986
Note 3: Lon�-Term Debt(continued)
Long-term debt maturities (including interest of
$7,346,721) are as follows:
Special
Water Assessment General
Revenue Improvement Long-Term
Bonds Bonds Debt Total
1987 55,530 504,795 957,229 1,517,554
1988 53,775 468,620 958,368 1,480,763
1989 52,020 427,480 957,683 1,437,183
�990 50,265 386,980 849,013 1,286,258
1991 48,510 367,070 991,095 1,406,675
1992 on 46,755 1,308,225 9,7b8.308 11 ,123,288
TOTAL $306,855 $3,463,170 $14,481,696 $18,251,721
Band
Payment Maturity Autt�orized
Rates y6 Uates Iss� Date Date 11r�d Issued Retired Outstanding
Debt Service F�u�s
G.O. State-Aid Street Baids 5•50-6•?5 03-01 09-01 09-01-70 03-01-91 1,050,000 75�,� 300,000
1969 Building Impr Bonds 6.50 01-01 07-01 4'7-01-69 01-01-90 2,�0,000 1,840,000 440,000
1980 Park Improvem�t Bands 7.0-8.0 02-01 OB-01 09-�'1-60 02-01-93 1.500,000 220�000 1,280,000
1983 G .O. Tax Incr Baids 6.5-9.0 Q2-01 OB-01 11-01-83 02-0'1-57 93�.� 5.� 925,000
1985 G .O. Tax Incr Bonds 6.3-8.1 02-01 OB-01 12-01-65 0�-0'�-�3 5.�,000 5,250,000
Total �1,010,000 2,815�� 8,195,000
Public Utilities
Reve�►ue Bonds af 1963 3•75-3•9 01-01 07-01 07-09-b3 01-01-93 1,000,000 730,000 270,000
Special Assessment Bonds
1966 Improvement Bands 4•0-4.8 01-01 07-01 04-01-68 01-01-88 ?50,000 740,000 10,000
1969 Improvement Bonds 6.5 01-01 07-01 07-01-b9 �'1--01-89 T55,000 715,000 40,000
1q70 Improvement Bonds 5.5-6•75 01-01 07-01 07-01-70 01-01-90 2,250,000 2,190,000 60,000
1q76 Improvement Bonds 4.5-5•4 02-01 OB-01 10-18-76 02-01-91 990,000 675,000 305��
1982 Improvemazt Bonds 6.a9.7 Oi2-01 OB-01 12-01-82 02-01-9'7 2.b25,000 G00,000 2,025.�
Total ?.360�000 4.920�000 2�440.000
-43-
Cit of Brookl n Center
NOTES TO FINANCIAL STATEMENTS
December 31, 1986
Note 4: Public Utilities Fund
Public Utilities Revenue bonds were issued during 1963
to finance an addition to the water works system. These
bonds, together with related interest and service charges,
are payable solely from the operations of the Public
Utilities Fund and are not a general obligation of the
City. The 'resolution authorizing and directing the issuance
of these bonds contain covenants and restrictions enacted
for the purpose of protecting the bondholders' interest.
Paragraph 8 of the resolution provides for the segregation
of assets and the appropriation of retained earnings for
debt retirement purposes and defines the manner of account-
ing for the activities of the Public Utilities Fund.
As required by Paragraph l0e of the issuing resolution,
an analysis of each account balance appears as follows:
Construction Account
Proceeds of bond sale $1,000,000
Add: Investment earnin s throu h 1 85 399 039
b' g 9
19s6 Investment earnings -0-
Total Investment Earnings 399,039
$1,399,039
Deduct: Construction expenditures thru 1985
Total construction expenditures 1986 38,
Total Construction Expenditures �1 ,399,039
Construction Account Balance: -0-
Debt Retirement Account
Accumulated amounts set aside to meet 1986
requirements for interest and principal:
Investments with accrued interest 56 ,735
Reserve account investments 75,000
Total Debt Retirement Account: 131
-44-
City of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
December 31 1986
Note 4: Public Utilities Fund(continued)
A summary which reconciles restricted assets with
earnings and also compares appropriated earnings with
restriction requirements as set forth by the resolution
authorizing the sale of revenue bonds is presented as
follows:
Revenue
Construction Bond Reserve
Account Account Account
Restricted Assets 12/31/86 $131,735 $56,735 $75,000
Appropriated Earnings at
12/31/86 $13� ,735 $56,735 �75,000
All bonds which mature on Januar 1 r th fter
y 1982 o erea
are subject to redemption (call) on January 1, 1974, or any
interest payment due thereafter in inverse-numerical order
at par and accrued interest and premium as follows:
If redeemed January 1, 1981, or thereafter, no premium.
Note 5: Public Utilities Fund Metro Waste Control Commission
Receivables and Reserves
Pursuant to enacted legislation (Metropolitan Sewer Act-
Chapter 449 Session Laws) the Metropolitan Waste Control
Commission, as of January 1, 1971, assumed ownership of all
existing interceptors and treatment works needed to imple-
ment a comprehensive plan for the collection, treatment, and
disposal of sewage in the seven county metropolitan area.
Under the terms of the Act, the Commission is obligated
to reimburse each local government for the cost of facili-
ties acquired. This cost or purchase price of facilities is
based on depreciated replacement cost value as of December
31, 1970, as determined by cost analysis and engineering
studies. This current value receivable is to be paid by the
Metropolitan Waste Control Commission over a period of 30
years and the amount will earn interest at an annual rate of
4�. The method of payment will be by right of offset. The
City will apply each annual installment against sewer
service charges as billed by the Metropolitan Waste Control
Commission annually.
-45-
Cit of Brookl n Center
Y Y
NOTES TO FINANCIAL STATEMENT5
December 31, 1986
Note 5: Public Utilities Fund Metro Waste Control Commission
Receivables and Reserves(continued)
The installment credit for 1986 consisted of principal
and interest and the amount of credit offset against 1986
sewer service billings totaled $15,621, leaving a balance
due over the next 18 years of $181 as adjusted by the
M .W.C.C.
Note 6: Special Assessment Funds
Special assessments which related to improvements bene-
fiting City-owned properties total $28,500 as of December
31, 1986. The payment for these improvements (with no
interest charge) has been scheduled over a period extending
through 1987. These assessments are obligations of the
general fund and payment is planned under normal budget
procedures, whereby the needed monies will be appropriated
during the years as each installment becomes due.
Note 7: Pension Plans and Pension Funds
The City participates in two pension plans as follows:
1. All City employees, with the exception of volun-
teer firemen, who have a separate plan, are covered by
the Public Employees� Retirement Plan. This plan is
administered by an independent agency of the State of
Minnesota and is the cerrtral plan for employees of
governmental units within the State of Minnesota. The
City contributes, on behalf of its employees, 4.25� to
12� ($265,510 for 1986) of its employees� salaries to
this plan and part of that contribution covers previ-
ously unfunded amounts. The City contributed $163 ,131
for 1986 to Social Security, on behalf of its em-
ployees.
Actuarial Valuations of Plan Benefits are as follows:
(Per PERA report of 6/30/86)
a. Minnesota Statutes, Section 356.215, Subd. 4, pro-
vides that actuarial valuations of plan benefits shall
be computed in accordance with the entry age normal cost
(level normal cost) method. In the calculation of
normal cost and accrued liabilities of the benefit plan,
the actuary uses a 5 percent interest rate assumption
and assumes an annual growth rate of 3-1/2 percent in
member�s salary.
-46-
Cit� of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
December 31, 1986
Note 7: Pension Plans and Pension Funds(continued)
b. The unfunded accrued liabilities of $776,8g2,000 in
the Public Employees� Retirement Fund and $22,806,000 in
the Police and Fire Fund as of June 30, 1986 are the
amounts by which reserves required to fund plan bene-
fits ex�ceed the assets of the funds. In addition to the
level normal cost, the actuarial calculations included
the amount of additional annual contribution which
would be required to retire the current unfunded accrued
liability by June 30, 2010.
PERA is a state-wide contributory retirement plan
for which an individual City's portion of the unfunded
liability is not available because no city is directly
liable for the unfunded liability under Minnesota law.
c. Pension benefits are funded from,member and em-
ployer contributions and income from investment of
fund assets. Public Employees Retirement Fund members
belong to either the Basic or Coordinated Plan. Co-
ordinated members are covered by Social Security and
Basic members are not. All new members of the Public
Employees Retirement Fund must participate in the
Coordinated Plan. Current contribution rates for the
funds are as follows:
Unfunded
Additional
Employee Employer Employer
Public Employees Retirement Fund:
Basic Plan 8� 8� 2-1/2�
Coordinated Plan 49� 4� 1/49�
Police and Fire Fund 89� 12�
The above disclosures are not in accordance with Financial
Accounting Standard #36 The required information is not
available because the Association is not required to report
under ERISA.
-47-
I�
City of Brookl n Center
NOTES TO FINANCIA� STATEMENTS
December 31, 1986
Note 7: Pension Plans and Pension Funds(continued)
2. The City contributes to the Brooklyn Center Fire-
men's Relief Association, an independently administered
retirement plan for the City's volunteer firemen. The
benefits of this plan are established by the Minnesota
Legisl'ature and the financing of the plan is provided
for by a state tax on fire insurance premiums and the
City's ad valorem tax. Actuarial studies of retire-
ment needs are made periodically to determine the con-
tributions tq the Association. The Association had an
unfunded accrued liability of $98�942• The City re-
mitted $41,743 to the Association in 1986. The City
also transmitted a State Aid payment in the amount of
$71,067. Taxes held for remittance to the Association
are accounted for in an agency fund since the Associa-
tion is not a part of the reporting entity.
Note 8: Investment Trust
The Investment Trust was established in 1956 by Council
action to provide a uniform and consistent method of in-
vesting temporary surpluses of cash. Net income of the
Trust is distributed annually to each of the participating
funds on the basis of the average yearly investment main-
tained by each fund. The net income and the effective rate
of return on average investment by participating funds is
shown below by years.
Rate of Net
Year Return Income
1986 10.009� 2,480,046
1g85 11 .15% 2,210,965
1 8 11.12 2 097
9 4
1983 10.33� 1,791,694
1982 11.34� 1,846,622
1981 11.05% 1,622,45�
1980 8.87� 1,156,460
1979 8.45� 978,180
1978 7.66� 766,349
1977 7.11� 637,855
1956-1976 2.77�-7.66� 3,770,369
Total Distributed Earnings 1956 1986 $19 ,358,589
-48-
City of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
December 31, 1986
Note 9: A�ency Funds and Special Revenue Funds
The Brooklyn Center Housing and Redevelopment Authority
is no longer considered a separate entity from the City.
The City administers the Authority as a Special Revenue
Fund of the City. The Brooklyn Center Fire Relief Associa-
tion is a totally separate entity from the City and is con-
sidered an agency account.
Note 10: Interfund Receivables and Pa,yables
Individual interfund receivable and payable balances at
December 31, 1g86 were as follows:
Inter-Fund Inter-Fund
Fund Receivables Payables
General 112,122 36,901
Community Development Block Grant 149,783
Capital Projects 33,938
Municipal State Aid for Construction Fund 35 ,928 65 ,286
Special Assessments 39,221 7,
Public Utilities 36,363
Housing and Redevelopment 149,7$3 32,251
G.O. Tax Increment Bonds of 1983 2,482
1969 Building Bond 3,097
Park Improvement Bond of 1980 455
Fire Department Relief Association 43,396
State Aid Street Bonds Debt Service 5 ,697
Inter-Fund Transfers In Out
Operating Transfers:
General Fund 341,403
Federal Revenue Sharing 1g0,000
Community Development Block Grant 142,813
Capital Projects Fund 15,662
Municipal State Aid for Construction 5,697 417
Special Assessments 377,956
Municipal Liquor 100,000
Housing and Redevelopment 142,813 58,548
State Aid Street Bonds Debt Service 85,000 5,697
LAWCON 15 ,662
Public Utilities 3,457
Fire Department Relief Association 41 ,743
971�988 971�988
-49-
City of Brooklyn Center
NOTES �0 FINANCIAL STATEMENTS
December 31 L 1986
Note 11: Special Revenue Funds
Federal Revenue Sharing grants for the year ended
December 31, 1986, by the entitlement period are as
follows:
Entitlement Period/Quarter Amount
17 2,3,4 99,194
18 1 2,
$101 861
Note 12: Liti�ation
There are several lawsuits pending in which the City is
involved. The City Attorney estimates that the potential
claims against the City not covered by insurance resulting
from such litigation would not materially affect the finan-
cial statements of the City.
Note 13: Chan�es in Fixed Assets
General Fixed Assets
Balance Balance �r
January 1, Acqui- December 31,
1986 sitions Disposals 1986
Land 1,176,011 $251,520 1,427
Buildings 4,758,600 828,924 5,587,524
Park properties 3 ,832,832 3,832,832
Furniture 388,032 3�,77$ 418,810
Departmental equipment 3,147,467 635,902 3,783,369
Storm sewers streets 13,367,143 4,884,800 18,251,943
Total General Fixed
Assets $26,670,085 $6,631,924 -0- $33,302,009
-50-
City of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
December 31 1986
Note 13� Chan�es in Fixed Assets(continued)
Utility Plant in Service
Balance Transfers Balance
January 1, and December 31,
1986 Additions Disposals 1986
Water Department
Mains and lines 7,028,471 63,491 7,091,962
Structures 2,054,109 158,987 2,213,096
Equipment 176,060 597 176,657
Land 24,816 24,816
TOTAL WATER DEPARTMENT 9,283,456 $223,075 -0 9,506,531
Sewer Department
Mains and lines 4,898,057 45,312 4,943,369
Structures 1,029,732 4,733 1,034,465
Equipment 176 ,059 598 176,657
Land
TOTAL SEWER DEPARTMENT 6,103,848 50, $-0- 6 ,154,491
Construction in
Progress -0- $156,545 -0- 156,545
TOTALS $15,387,304 430,263 -0- $15,817,567
Liquor Fund Fixed Assets
Balance Balance
January 1, December 31,
1g86 Additions Disposals 1g86
Land 106,776 106,776
Equipment 140,254 13,614 503 153,365
Leasehold 39,314 356 39,670
Buildings 214,022 2,525 216,547
TOTALS 500,366 16,495 503 516,358
-51-
Cit of Brookl n Center
NOTES �O�INA 1���S�NTS
�ecember 31 1986
Note 14: Additional Se�ment Information
Municipal Public
Liquor Utilities
Fund Fund Total
Operating Revenues 575,438 $1,545,469 2,120,907
Depreciation Expense 15,689 300,133 315 ,822
Net Operating Income (Loss) 139 (367 ,851) (228,176)
Operating Transfers
From (To) Other Funds (100,000) 3 ,457 (96,543)
Net Income (Loss) 30,154 394,194 424,348
Capital Contributions 83 ,306 83 ,306
Property, Plant Equipment, Net 349 ,240 11 11,922,249
Net Working Capital 212,126 4,082,083 4,294,209
Total Assets 686,880 20,316,538 21,003,418
Bonds and Other Long-Term f'�
Liabilities Payable From
Operating Revenues 270,000 270,000
Total Equity 286,947 19,840,093 20,127,040
Note 15: Housin� Revenue Bonds
Housing Revenue Bonds are payable solely from payments
derived from a revenue agreement between the City, as obli-
gee, and a contracting party, as obligor, and are not obli-
gations of the issuing municipality within the meaning of
any constitutional or statutory provision, do not give rise
to any pecuniary liability of the City or its officers, and
are not a charge against the City's general credit and/or
taxing powers. In 1986, the City of Brookyn Center issued
the Earle Brown Commons Multi Family Housing Revenue Bonds
in the amount of $8,800,000.
Note 16: Industrial Development Revenue (IDR) Bonds
Industrial Development Revenue Bonds are payable solely
from payments derived from a revenue agreement between the
City, as obligee, and a contracting party, as obligor, and
are not obligations of the issuing municipality within the
meaning of any constitutional or statutory provision, do
not give rise to any pecuniary liability of the City or its
officers, and are not a charge against the City�s general
credit and/or taxing powers.
-52-
City_ of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
December 31, 1986
Note 16: Industrial Development Revenue (IDR) Bonds(continued)
The City of Brooklyn Center has issued the following
Industrial Development Revenue Bonds:
Year Amour�t
Company Issued Issued
Medtronics, Inc 1979 �1 ,000,000
Minnesota Municipal Leasing
Corporatio� (LOGIS) 197g 800,000
Cass Screw Machine Products 1979 750,000
Commercial Partners/Brookdale 1g80 6,200,000
S S Real Estate (Swenson�s
Carriage House) 1980 750,000
Brookdale Office Park Partners 1981 8,200,000
Shingle Creek Eleven Project 1981 1,600,000
Federal Lumber 1981 1,000,000
Brookdale Corporate Center I 1981 8,100,000
Shingle Creek Development Company 1982 2,172,150
Brookdale Corporate Center 1984 8,790,000
Brookdale III Limited Partnership 1985 8,900,000
Note 17: Commitments
1. The City expects all contracts to be completed within
one year.
2. Liquor Fund lease commitments for rental are as follows:
Store #1 is City-owned.
Store #2 is City-owned.
Store #3 lease requires payments of $1 per month,
plus pass-through expenses, and continued
through December 31, 1g87. Current payments
total $1,946.13 per month.
Note 18: Reserves
1. Restricted assets reserve of $278,266 consists of Metro
Waste Control Commission receivables ($181,599) and deferred
assessments ($96 ,667) not available for current use.
2. Debt retirement reserve of $131 is required by bond
indenture.
3. Working Capital reserved by Council ($620,000).
4. Plant expansion reserved by Council ($4,000,000).
5. Reserve for encumbrances ($46,611) are unused appropri-
ations reappropriated the succeeding year.
6. Inventories and prepaid expenses are reserved in the
General Fund ($51,212).
-53-
Cit� of Brookl n Center
NOTES `rO�IN�INCIA�STATEMENTS
Decembe r 31 Z 1986
Note 19: Deficit Fund Balance
Deficit balances exist in the following funds:
Fund Amount
Special Assessments: 1982 (725
Construction (539,�54)
Diseased Tree Removal: (8,864)
In all these funds, the collection of special assessment
levies are expected to exce.ed fund deficits.
-54-
I
City of Brooklyn Center
NOTES TO FINANCIAL STATEMENT
December 31 1986
Note 20: Excess of Actual Expenditures Over Budget in Individual
Funds
The following funds had an excess of actual expenditures
over Budget for the year ended December 31, 1986:
Fund Budget Actual Excess
LCMR and LAWCON 15,000 15,662 662
Diseased Tree Removal 30,000 44,735 14,735
Note 21: Tax Increment Financin� Districts
The City of Brooklyn Center is the administering authority
for the following tax increment finance districts:
Brutger Ear1e Brown
Proposal Farm
District Number 2100 2101
Type of District Housing Redevelopment
Authorizing Statutes 462.545 462.545
462.585 462.585
Year Established 1983 1985
Duration of District 2008 2010
Original Assessed Value 93,140 $5,076,604
Current Assessed Value 1,826,456 8,654,494
Captured Assessed Value
Retained by the City $1 ,733,316 $3,577,890
Total General Obligation
Tax Increment Bonds Issued $930,000 $5,250,000
Amounts Redeemed 5,000 -0-
Outstanding Bonds at
December 31, 1986 $925,000 $5,250,000
-55-
City of Brooklyn Center
NOTES `r0 FINANCIAL STATEMENTS
December 31 1986
Note 22: Subsequent Event
On February 23, 1987, The City Council.authorized the sale
of $1,200,000 General Obligation Improvement,Refunding
Bonds. All the bonds are general obligations of the City,
and have the full faith and credit of the City pledged for
repayment.
It is intended that the bonds will be repaid primarily from
the collections of special assessment levies from owners of
benefited property.
The bonds are issued to provide funds to refund in advance
of maturity the General Obligation Improvement Bonds of
1982.
-56-
City of Brooklyn Center, Minnesota
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 sha 1 1 provide for a Genera 1 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 Fun
d 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
interest earnings. The Fund's resources also finance a wide range of
functions, including the current operations of general government,
public safety, public works, health and welfare, recreation, and
unallocated general expenditures.
Revenues and expenditures in this Fund are recognized on the modified
accrual basis. 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.
City of Brooklyn Center A-1
General Fund
I �I CAMPARATIVE BALANCE SHEET
December 31, 1986 and 1985
Totals
1986 1 85
9
ASSETS
Cash 635 635
Temporary investments 4,977,798 4,T7�+,553
Aecounts receivable �+7,465 18,9�+6
Taxes receivable 403,893 338,925
Due from other funds 112,121 326,30�4
Due from other governments 41,835 15,060
Inventory of supplies 51,212 43,178
Prepa.id insuranee 6,056
TOTAL _ASSETS __5,634,959 __4,923,657
LIABILITIES AND FUND BALANCE
Liabilities
Accounts payable 270,�00 196 ,388
Contracts payable 8,391 14,418
Due to other funds 36,901 5,618
Accrued salaries payable 160,869 91,997
Accrued vacation and sick pay ,62,519 59,037
Total Liabilities 539,080 367,�58
Fund Balance
Reserved: For inventories and prepaid expenses 51,212 49,23�
For encumbrances 47,611 13,119
Unreserved fl�nd ba.lance 4,997,056 �,493,846
Total Fund Balance __5,095,879 __�►,556,199
TOTAL LIABILITIFS AND FUND BALANCE 5,63� 4,923,657
(See notes to financial statements)
-57-
City of Brooklyn Center A_2
General Fund
STATEMENT REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCE BUDGET (GAAP BASIS) AND ACTUAL
Year Ended December 31, 1986
With Comparative Actual Amounts for the Year Ended December 31, 1985
Actual Over
or Under( 1985
Budget Actual Budget Actual
Revenues
Ad valorem taxes 2,582,580 2,566,220 -16,360 2,444,153
Licenses and permits 268,365 �11,�06 143,041 387,806
Intergovernmental 2,8�17,433 2,866,�►�2 19,009 2,618,957
Charges for services 968,430 g65,527 -2,903 979,5�+3
Court f ines 175 000 22�t 753 49 75 3 187 0�+5
Miscellaneous 191,200 318,453 127,253 3�8,316
Total Revenues 7,033,008 7,352,801 M 319,793 ~6,965,820
Expenditures
General government 1,609,750 1,487,876 121,874 1,283,050
Public safety 2,4b5,188 2,288,062 157,126 2,143,843
Streets and highways 1,696,517 1,5�9,584 -146,933 1,560,842
Co�unity and hea.lth services 48,722 45,29�► -3,428 34,326
Parks and recreation 1,508,565 1,405,020 103,5�5 1,389,075
Non-Departmental 350,275 378,688 28,413 416,937
Total Expenditures 7,659,01? N 7,154,524 N 504_�+93 y 6,828,073
Excess or Deficiency( of
Revenues Over Expenditures -626,009 198,277 824,286 137,747
Other Financing Sources or Uses(-)
Operating transfers in 342,056 3�1 403 11 6�
53 3 ,92
Total Other Financing
Sources or Uses(-) 342,056 3�1,�403 -653 31�,926
w
Excess or Deficiency( of Revenues
and Other Financing Sources Over
Expenditures and Other Uses -283,953 539,680 823,633 449,673
Fund Balance January 1� 4,556,199 �,556,199 0 �,106,526
Fund Balanee December 31 4,272,246 5,095,879 823,633 4,556,199
(See notes to financial statements)
-58-
City of Brooklyn Center S-1
General Fund
SCHEDULE OF REVENUE BUDGET AND ACTUAL (Continued next pa�e)
OBJECTIVE CLASSIFICATION
For the Year 1986 with Comparative Aetual for 1985
1986
Actual Over
or Under(-) 1985
N-_ Budget N__ Aetual w__ Budget Actual
Ad Valorem Taxes
Real Estate ta.xes 2,547,580 2,553,692 6,112 2,405,42�+
Penalties and interest 35,000 12,52$ 22,472 38,729
Total Ad Valorem Taxes 2,582,580 2,566,220 N 16,360 2,�44,153
Licenses and Permits
N Liquor and beer 121,750 141,895 20,145 128,400
Building permits 50,000 155,023 105,023 144,333
Mechanical permits 16,000 23,12�4 7,124 22,701
Electrical permits 16,700 15,730 -970 15,765
Food licenses 14,300 17,500 3,200 13,559
Plumbing permits 7,000 13,271 6,271 15,504
Rental dwelling permits 12,000 11,366 -634 10,796
Sewer and water permits 4,000 3,873 -127 5,302
Dog licenses 5,500 5,405 -95 5,288
Swiagning pool licenses 3,000 3,023 23 2,695
Service station licenses 1,765 1,483 -282 1,798
Mechanical licenses 2,200 2,695 �95 3,011
Miscellaneous business license 1,100 1,939 839 1,478
Garbage licenses 1,175 1,617 442 1,264
Vehiele dealer licenses 900 9�5 45 762
Cigarette licenses 800 809 9 696
Sign permits 1,000 2,865 1,865 1,145
Taxicab licenses 1,025 1,060 35 1,729
Bowling licenses 700 700 0 700
Lodging establishments 450 714 264 �15
Al1 other licenses and permits 7,000 6 ,369 -631 10,�l65
Total Licenses and Permits 268,365 411,406 143,041 387,806
Intergovernmental
Federal grants:
Miscellaneous small grants 20,311 11,709 -8,602 10,082
Total Federal Grants 20,311 11,709 -8,602 10,082
State grants:
Miscellaneous small grants 3,366 3,366 10,11�
�i Total State Grants 0 3,366 3,366 10,11u
-59-
City of Brooklyn Center S-1
General Fund M_
SCHEDULE OF F�VENUE BUDGET AND ACTUAL (Continued next page)
OBJECTNE CLASSIFICATION
For the Year 1986 with Com�parative Actual for 1985
1986
Actual Over
or Under( 1985
Budget Actual Budget N__ Actual
Intergovernmental (continued)
State shared taxes:
Local government aid 2,00#,327 2,004,327 0$ 1,8�45,858
Grants, other govt. units 5,700 7,813 2,113
Homestead credit aid b75,095 675,095 0 614,457
Police pension aid 85,000 93,065 8,065 78,725
Firemen pension aid 57,000 71,067 14,067 59 ,721
Total State Shared Taxes 2,82'T,122 2,851,367 N ��2�t,245 2,598,761
Total Intergovernmental Rev. 2,8�7,433 2,866,�42 19,009 2,618,957
Charges for Services �_a
Inter-Fund charges Admin.:
Public Utility Fund 130,000 163,969 33,969 155,864
Liquor Fund �i�,000 �2,7�13 2,257 40,688
Other Funds �,500 9,01� �I,514 9,600
Engineering and clerical fees 124,000 69 ,782 50,218 139,308
General government charges 15,030 36,480 21,450 26,738
Public safety charges 2,000 8,635 6,635 9,783
Recreation fees 651,900 634,904 �_16_996 597_562
Total Charges for Services 968,430 965,527 -2,903 979,543
Court Fines w N~N-
Fines 175,000 22�t,753 �19,753 187,045
Total Court Fines 175,000 ~N 224,753 �19,753 187,045
Miscellaneous
Rent �4,000 12,493 -1,507 13,9�0
Interest on investments 175,000 292,39u 117,39� 309,885
Other 2,200 13,566 11,366 24,491
Total Miscellaneous 191,200 318,453 127,253 348,316
Total Revenue 7,033,008 7,352,801 �319,793 6,965,820
-60-
City of Brooklyn Center S-1
General Fund
SCI�DULE OF REVENUE BUDGET AND ACTUAL (Continued from prior page)
OBJECTNE CLASSIFICATION
For the Year 1986 with C�nparative Actual for 1985
1986
Actual Over
or Under(-) 1985
Budget M__ Aetual N__ Budget N__ Actual
Other Financing Sources
N Operating transfers in 3�42,056 341,�403 -653 311,926
Total Other Sources 342,056 341,�03 -653 311,926
Tota1 Revenue and Other Sourees 7,375,064 7,694,204 319,140 7,277,746
(See notes to finaneial statements)
I
-61-
City of Brooklyn Center S-2
General Fund
SCHEDULE OF EXPENDITURES COMPARED T� BUDGET (GAAP BASIS)(Continued next page)
For the Year Ended December 31, 1986
With Comparative Actual Amounts for the Year Ended December 31 1g85
1986
Actual Over
or Under(-) 1985
Budget Actual Budget Actual
General Government
M Mayor and Council:
Personal services 25,039 18 �033 7,006 18,095
Services and other charges 71,802 73,124 1,322 59,157
Total Mayor and Council 96,8�+1 91,157 w 5,68�► M 77,252
Charter Cormnission:
Services and other charges YN 1,500 1,243 -257 526
Total Charter Coimnission 1,500 1,243 -257 526
Administrative Office:
Personal services 273,587 260,719 -12,868 219,998
Services and other charges 25,150 23,789 1,361 17 ,9�7
Capital outlays 13,775 13,088 -687
Total Administrative Office 312,512 297,596 -1�,916 237,915
Elections and Voter Registration:
Personal services 17,9u9 16,125 1,82�► 4,907
Services and other charges 8,0�0 3,298 -�:7�2 M___ 4�305
Total Eleetions 25,989 19,�+23 -6,566 9,212
Assessor's Office: �__M__M_
Personal services 1�$,985 137,202 11,783 �33,�87
Supplies 2,960 1,238 1,722 2,053
Services and other charges 5,985 3,992 -1,993 �,�+37
Capital Outlay 632 �73 -159 656
Total Assessor's Office 158,562 142,905 N -15,657 1�10,233
Finance:
Personal services 2�12,740 240,687 -2,053 223,258
Services and other charges 1,075 1,972 897 9b9
Capital outlay 750 756 6 870
Total Finance 244,565 2�13,�15 -1,150 225,097
-62-
City of Brooklyn Center S-2
�i General Fund
SCHEDULE OF EXPENDITURES COMPARED TO BUDGET (GAAP BASIS)(Continued next page)
For the Year Ended December 31, 1986
With Comparative Actual Amounts for the Year Ended December 31_ 1985
1986
Actual Over
or Under( 1985
Budget Aetual Budget Actual
General Government (continued)
Independent Audit:
Services and other charges 13,000 11,130 -1,870 7,�06
Total Independent Audit 13,000 N 11,130 -1,870 7,406
Le al--
Services and other charges 178,023 166,486 -11,537 1�5,301
Total Legal 178,023 166,486 -11,537 1�45,301
Government Buildings:
Personal services 200,55� 181,254 -19,300 168,624
Supplies 19 260 17, 807 -1, �453 24, 2�4
Services and other eharges 154,605 118,182 -36,423 131,119
�i Ca.pital outlay 80,099 N__ 68,710 N__ 11 0 389 �___116,124
Total Government Buildings 45�,518 385,953 -68,565 �440,108
Data Processing:
Supplies and other charges 59,000 64,871 5,871
Capital outlay 65,2b0 63,697 -1,5�+3
Total Data Processing 124,240 128,568 4,328 0
Total General Government __1 _121_874 0 N 1,283,050
Public Safety
Police Protection:
Personal services 1,591,164 1,513,500 77,664 1,425,739
Supplies 31,78� 25,013 6,771 22,731
Services and other charges 153,679 124,686 -28,993 130,615
Capital outlay 62,143 59,46�+ -2,679 59,029
Total Police Protection N 1,838,770 N 1 _722,663 116,107 __1,638,114
Fire Protection:
Personal services 186,183 194,626 8,4b3 141,518
Supplies 16,960 15,�07 1,553 �2,24�4
Services and other eharges 29,821 23,536 -6,285 37,902
Capital outlay �7,940 39,524 -8,416 61,50�+
Total Fire Protection 280,90� 273 -7,8�� 253,168
-63-
City of Brooklyn Center S-2
General Fund
SCI-iEDULE OF EXPENDITURES CA*�ARED TO BUDGET {G�AP BASIS)(Continued next page)
For the Year Ended December 31, 1986
With Comparative Actual Amounts for the Year Ended December 31, 1985
a
Actual Over
or Under( 1985
Budget Actuai Budget MrM Actual
Public Safety (continued)
�Protective Inspection:
Personal services 189,063 18�,�(D1 -l4,262 162,321
Supplies 1,000 1,032 32 303
Services and other charges 11,125 11,06� -61 9,883
Capital outlay 300 �86 186 266
Total Protective Inspection 201,�488 197, 4,105 172,773
Eanergency Preparedness:
Personal services �+3,233 31,5t�6 -11,725 39,292
Supplies 660 563 -97 ��2�6
Services and other charges 8,001 2,7�5 -5,286 4,680
Capital Outlay 57,653 51,182 -6,471 23,948
Total Eanergency Preparedness 109,5�+7 85,9�$ -23,579 69,166
Animal Control:
Personal services 5,729 3,8�8 -1,891 �+,856
Services and other charges 8,750 5,117 -3,633 5,766
Total Animal Control 1�#,479 $�955 M -5,52�t N 10,622
��_M
Total Public Safety 2,4�45,188 0 2,288,062 0 -157,126 0 2,143,843
Public Works N
Engineering Department:
Personal services 363,28� 321,��95 �1,689 330,372
Supplies 5,000 4,a28 -872 �1,928
Services and other charges 5,165 7,�92 2,027 5,309
Capital outlay 12,?67 -�,688 N__y 9_856
Total Engineering 390,904 3�5,6$2 -45,222 350,465
Street Department N' N---------
Personal services �+�5,841 �132,5�9 -�3,292 429,538
Supplies 98,725 76,715 -22,010 89,72�+
Services and other charges 120,89� 104,903 -15,991 12�1,3�+�+
Capital outlay 120,500 122,5�� 2,0�14 64,714
Total Street 785,960 NN 736,711 -49,2�►9 N 708,320
Ma.intenance Shop:
Personal services 131,625 121,601 -10,02�+ 116,500
Supplies 162,950 1�7,3�59 -15,591 186,2�1
Services and other charges 60,550 5�,312 -b,238 �13,053
Ca.pital outlay 5,150 5,167 17 5,639
M�-------
Total Maintenance Shop 360,275 328,439 -31,836 351,�►33
-64-
City of Brooklyn Center S-2
General Fund
SCHEDULE OF EXPENDITURES COMPARED TO BUDGET (GAAP BASIS)(Continued next pa.ge)
For the Year Ended December 31, 1986
With Comparative Actual Amounts for the Year Ended December 31, 1985
M�
1986
Actual Over
or Under(-) 1985
Budget Actual Budget Actual
Traffic Signals and Lights:
Supplies 900 290 -610 270
Services and other charges 158,�78 138,462 -20,016 150,35�
Total Traffic Signals 159,378 138,752 -20,626 150,624
Total Public Works 1,696,517 1,5�9,584 -146,933 1,560,842
Community Health Services
Health Regulation:
Services and other charges 48,722 �+5,29� -3,�28 3�,326
Total Hea.lth Inspection �8, 722 45 29�+ -3, �+28 34 326
Total Co�nunity Health 48,722 45,29u 3,428 3�+,326
Parks and Recreation
Administration:
Personal Services 158,15�+ 149,067 9,087 1�►8,215
Supplies 5,900 6,002 102 4,906
Services and other charges 18,400 16,078 -2,322 1�4,5�7
Ca.p ital Outlay 2, 075 1, 600 -Z175
Total Administration M__ 184,529 ____172,7�7 ___11_782 M__ 167,668
Adult Programs:
Personal services 52,�400 52,301 38,702
Supplies 35,202 �13,727 8,525 39,1�10
Services and other charges 1�42,144 135,336 -6,808 143,200
2 -1 02 �484
Capital Outlay 1,050 5 5
Total Adult Programs 230,796 231,389 593 221,526
Teen Programs:
Personal services 2,900 2,623 -277 2,986
Supplies 875 491 -384 1,150
Services and other cha.rges 2,100 1,415 -685 1,34�4
Capital Outlay �450 350 -100 3�9
Total Teen Programs 6,325 ?±'$79 1,446 5,829
Children's Pro�rams:
Personal services 40,485 38,�+50 2,035 33,017
Supplies 8,900 8,197 703 10,292
Services and other charges 11,275 9,5�+7 -1,728 1�,337
Total Children's Programs 60,660 56,194 -4,b66 57,646
i
-65-
City of Brooklyn Center S-2
General Fund
SCHEDULE OF EXPENDITURES (Xx'IPARED TO BUDGET (GAAP BASIS (Continued from prior
For the Year Ended December 31, 198b page)
With Comparative Actual Amounts for the Year Ended December 31, 1985
1986
Actual Over
or Under( 1985
Budget Actual Budget N_N Aetual
Parks and Recreation (continued)
General Programs I
Personal services 28,650 30,033 �,383 2�,�+55
Supplies 12,917 17,112 -1,805 972
Services and other charges 37,764 32,378 -5,386 N__ 21,502
Total General Programs 79,331 73,523 -5,808 �6,929
Com�unity CenterN
Personal services 207,185 22u,264 17,079 206,5�7
Supplies 31,950 39,06�1 7,114 55,407
Services and other charges 1�9,100 139,7u0 9,360 151,112
Ca.pital outlay 14,965 12,187 2,778 41,996
Total Com�unity Center w+ 403,200 �15,255 12,055 N �155,062
Park Maintenance:
Personal services 335:73� 275,473 -60,257 272,312
Supplies 39,525 32,7b1 -6,7b�► 38,131
Services and other eharges 75,772 57,696 -18,076 65,497
Capital outlays 92,697 85,103 -7,59� 58,�t76
Total Maintenanee 543,72�4 �51,433 -92,b9� �3�+,�16
Total Parks and Recreation 1-508,565 1,�05,020 -103,5�5 1,389,076
Non-Departmental
Expenditures not (�arged to
Departments:
Personal services 125,369 1�12,905 17,536 161,820
Supplies 17,000 '1$,029 �1,029 18,3�41
Services and other charges 207,906 217,75� 9,8�$ 185,158
Capital Outlay 0 51,618
Total Non-Departmental 350,275 378,6$8 28,413 M 416,937
Total Expenditures 7,659,017 7,154,524 -50�+,�193 6,828,074
(See notes to financial statements)
-66-
City of Brooklyn Center, Minnesota
SPECIAL REVENUE FUNDS
The Special Revenue Funds were established to account for revenues
derived from taxes and/or other specific revenue sources. The Fund's
resources are usually restricted by statute, City Charter or ordinance
to finance specific City functions or activities.
Revenues and ex enditures in this fund are reco nized on the modified
P g
accrual basis. 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.
Federal Revenue Sharin� Fund: This Fund was established to account
for funds received under the "State and Local Fiscal Assistance Act of
1972" as amended in 1976.
Public Em�lo�rees Retirement Fund: This Fund was originally
established to account for the central collection of employer and
employees' share to pay employee pension contributions under various
pension programs. Pension contributions are now processed through
each individual Fund.
Diseased Tree Removal Fund: This Fund was established to account for
the collection of resaurces and expenditure of these resources for
diseased tree control.
LCMR and Lawcon Fund: This Fund was established to account for land
and water conservation funds received from federal and state grants.
Transfers are made from this Fund to the Capital Projects Fund where
accounting for project costs takes place.
CommunitY 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
Capital Projects Fund where accounting for project costs takes place.
�en �ace Land Acquisition Fund: This Fund was established to
account for funds received from federal, state, and county grants for
financial assistance for the acquisition of public open space lands
within the community.
Housin� and Redevelopment Authority Fund: This Fund was established
to account for the Housing and Redevelopment Authority (HRA) of
Brooklyn Center.
aty o� aroo�m o�
special �veve Flxrls
QNBII�+IG BAIAAKE 3�Ef
Year F2�ded Iboember 31, 1986
With C�oparative Totals for the Year Ehded Daoa�ber 31, 1985
Fe�eral A�lic Ibseased CZmmnit3' (�en S�eoe Ii�irg �'rl
F�vatiae IIr�lt�yees lrae L,Q�t and Develo�� Lz�d �evelqm��t
3�'irg F�tir�t Fi�al L� 81pc�t (�ant Aoqui.stirm Aut2xrity 198b 1985
ASS�LS
Tenporary ir�a�ts 21,813 665,6� 90,449 109,OP2 3,898 2,761,370 3,652,232 4,199,857
nooaaits reoeivable 2,o0D 8,063 10,083 32,166
T2�oes nec�eivabie:
Deferr�ed special a�smazts 2),2T8 3�,278 16,7I1
Delir�te
Ad valcx+� 7,3D8 7,3�8 5,702
S�ecial as�e�ts 7d+ 7W 849
L1ae fY�n ot2� fL�ds 1�,783 149,783 125,9�2
Due fYrm ot2�a^ gwe�rma�ts 2,667 334 50,784 53,'1� 167,W0
ZvrAL As�s 24,480 665,680 �i,a02 90,783 159 3,896 2,9�b,524 3,894,�73 �,547,778
o, I
V I
j�$n •T'1'TFC AND 'E�ND BALAI�E
Liabilities
Aoc3ou7ts �yable 2� �,ZB7 fi6,711
L1ae to otl� fiaris 1�+9,'T83 3Z 18�2,034 315,854
Def'err�ed revezae �,Z18 �,ZTB 16,222
Ca;str�tim ]oer�s payable 11,588 11,586
Total Liabilities 0$ 0$ 31,866 0$ 149,'T83 0$ 52,538 2�4,187 398e787
FL� Ba]arne�
l�saved 3,342,909
tkmesaved 24,480 665 -8,864 90,'183 10,023 3.876 2,8T3,986 3,b59,986 806,0�2
Total Ftrrl Ba]�rbes 24,480 665,68� -8,864 90,783 10,023 3,896 2,ST3,986 3,659,985 4,148,991
Tt7TAL LIABII�I� AbID FUDID BAt�W� 2u,4� 665,680 23 90,783 159,SOb 3,896 2,926,52� 3,f394,173 4,547,778
(See r�tes to fir�ar�cial stata�nts)
City of Brooklyn Center B-2
Special Revenue Funds
COI�INING STATE3�iT OF REVENUFS, EXPENDITURES, AND CHANGFS IN FUND BALANCES BUDGET AND ACTUAL (Continued next page)
Year Ended December 31, 1986
with Comparative Totals for the Year Ended December 31, 1985
Federal Revenue Sharing Fur� Mr Public F�ployees Retirement Fund
Over Over
Under(-) Under(-)
Budget Actual Budget Budget Actual Budget
Revenues
Intergovernmental:
Federal grants 101,861 101,861 0 0
Total Intergovernmenta:l 101, 861 101, 861 0 0$ 0 0
Miscellaneous
Interest on investments 20,000 20,607 607 60,000 59,790 -210
Other 0 94 94
Total Miscellaneous 20,000 20,607 607 60,000 59,884 -116
Total Revenues 121,861 122,468 607 60,000 59,884 -116
rn
O Expenditures
Personal services p p
Services and other eharges 100 67 -33 20,000 19_,85�+ -146
Total Expenditures 100 67 -33 20,000 19,854 -1�46
Excess or Deficit(-) of Revenues Over E3cpenditures 121,761 122,401 640 �10,000 40,030 30
Other Financing Sources or Uses(-)
Operating transfers in 0 0
Operating transfers out -205,000 -190,000 15,000 0
Total Other Financing S�u�ces or Uses(-) -205,000 -190,000 15,000 0 0 0
Fxcess or Deficit(-) of Revenues and Sourees Over
Expenditures and Other Uses -83,239 -67,599 15,640 40,000 40,030 30
Fund Balanees January 1 92,079 92 0 625,650 625,650 0
Fund Balanees Deeember 31
Reserved 0 0
Unreserved 8,840 24,480 15,640 665,65D 665,680 30
Total Fund Balances December 31 8,840 24,480 15,6�4Q 6b5,650 665,680 30
r i r
t�
aty of �oaam
S�ecial �ve�ae firds
N"BIAIIIx' STATII�'IIQP F�1E3Q&S, F7�I�IDTIUf�S, AAID Q� IAI FfPID BALAN�S -�f AAID ACIIJAL (Crntirued fYcm �'iCr p2g�e)
YeeQ" FYrl�i Deoaut�a' 31, 1986
Witt� O�parative 1btals fa� the Year B�ded Dao�bPr 31, 19�
D'tseased 'lY�ee �mval F1ad LQyffi arxi La�oaz Flnd O�nnity Devel�t Blnek (Yar►t F1x�d
Ovs' Ou�a' a+'�"
ik�des^(-) C1�der{-? fk�dg'(-)
�et Actual Budget Budg�et l�tual 9�et H�d6'E�t Actual 8ud�et
�v��es
Inte'gv✓a�rma�tal:
ge�eral gants 0$ 15,000 15,662 662 150,000 148,32�1 -1,676
Total S 0$ 0 0 15,000 15,662 662 150,000 148,324 -�.b76
Qnrges fcr servioes:
Fees 2T,000 26,034 -�J66 0 0
Administrative 5,000 2,527 -2,�13
1bta1 Q�rges fcr S�vic�es 32,000 �,561 3,�439 0 0 0 0 0 0
Misce]�aneo�s
lrrte�it m inv�hnaits 1,000 946 �4 8,000 8,1� 1� 2,500 2,�184 -16
ott,er 7,319 7,319 0 0
rn
Total c�iscellanea.s 1,OOD 8,Z� 7,265 8,000 8,1� 1� 2,500 2,484 76
Total �vez.ties 33,000 36 3�826 �i 23,847 847 152 150.8()B 1 r b92
�i�
Se other d�arg� 3J,000 44,'T$ 14,'735 0 5,00� 3,l174 -1,525
Tota1 F1cpe�dittmes 3�,OOD 44,'T� 14,735 0 0 0 5,000 3�474 -1,526
Dcoess cr De,ficit(-) of �vaiaes Over E�arii� 3,000 7,909 -10�9�9 �i 23,847 847 147,500 147,33�+ -166
Otl'ia^ Firgt�cirg Sau'ee5 cr [)ses(-)
q�a�atirg tr�sfers in 0 0 0
pperatirg trarsfers out o -15,000 -15,662 -662 -145,OOD -142,813 2,187
Total Ott� Firancir�g Saro� cr t)ses(-) 0 0 0 -15,000 -15,662 -b62 -145,000 -142,813 2,1$7
Ekoess a�I�ficit(-) of F�vaiaes ar� Saanes Ure^
EJcpe�dittu'es ard Other' i�s 3,00� 7,909 -10,909 8,00p 8,1� 185 2,500 4,521 2,021
F� �]arnes Jangry 1 -�355 -q� 0 82,598 82,598 0 5,502 5,502 0
Fta�d �larnes Deca�^ 31
t�rved 0 0 0
Lrn�esa�v� 2,045 8,864 io,9o9 90,59$ 90,783 18; 8,002 io,o23 z,��
Total F1a� Balar►�s Deo�ber 31 2,045 -8,864 -1o,9aJ 9��598 90,783 1� 8,002 10,023 2,021
aty �yn a�
�ecial r�,ae rlr�ds
03�SIIdIl� STAIII�IT �k5, F�II�IDTIUf�, APID QiAtS� IN F�2�ID BALAN� -�T MID ACIIIAL Grntinuecl fYt�d pria� page)
Ye�' FYsied Deced�' 31, 1986
With Cag�arative lbta]s far the Year EYsiai Deo�obcr 31, 1985
Q� S�ece Land Aoqui�sitim F1azi Ei�usirg ad I�evelr,�nt Wrttxrity Totals
we^ Q✓e" a✓e
iYrle'(-) ()nde'�(-) 1986 19� Lhda'�(-) 1985
y��t�a1 Bu� Budget Ac�l Hx�et Budget AcGsl azl�et Act�al
�ve'u�s
T� o$ �,000 57,363 2,383 Y�,000 51,383 2�383 54,40b
Ir�ovan�tal:
Feia�l �tts 0 0 256,861 265,847 -1,01�+ 929,762
State gants o 1u,000 13,932 b6 14,000 13,932 �i8 15,163
1bta1 Ir�e�gwernoartal o o o 14,o00 13,93z -68 290,861 2T9,779 9�w,925
Q�ar�es fcr servioes:
Fees 0 0 2T,000 �,034 �66 52,496
A�ninististive o 0 5,000 2,527 -2,u73 3,�8'T
1bta1 Q'�ges fa� Sevioes 0 0 0 0 0 0 32,000 26,561 3,437 55,983
Misoellar�eats:
1rte�esc m ir�srts 300 39+ 54 280,000 �3,Zi9 3,239 3T�,800 375,bo5 3,805 92,oi3
o�,a� o �o,000 55o�o3D 3� �o,000 �T,�+3 7,�3 22,�25
i 1bta1 Misoellaneaa 300 354 54 83�,000 833.a69 3.269 921,a7D 933,048 11,248 114,138
V
Tbtal F�s'��s 370 54 899r� 9��584 5,584 1��9�661 1,298�T11 9�110 1,769��
�ps�it�s
p�asanl sevioes 0 �i 33,13!{ -1,866 35,000 33,134 -1,866 14,403
S�vS�oes aod ott�' d�[g�ss 0 1�500 1 77r696 1��j�1Q0 1 �i4�668 2�533��
Tbtal Dcpa�dit�a� 0 0 0 1,53,000 1,4�,43Ei 79,564 1,590,100 1,5�i,566 -66,534 2,548,231
F�ro�s a� Deficit(-) of �vavas Over Dcpe�ditta'� 3�D 354 54 -b36 �0,�2 85,148 3�0,43� -22�1,795 75,64�► -1,378,779
Ott�r Firer�itg Saaroes a^ ils�s(-)
P��.�,:s af G.O. bmd sale o 0 0 5,167,�i4
Cpaatirg tsarsfes in 0 1�j,000 142,813 �,1$7 1A5,000 142,813 �,18T 764,2175
Cpa�atirg trarBfers out 0 b0,000 �8,548 1,452 1 ►25,Q00 �I07,023 17,977 1,u65,581
1irta1 Otha^ F.irsr�irg Saaroes m Uses(-) 0 0 0 �,000 84,265 735 -�,Q00 -254,210 15,790 �,465,9�
Dco�s a� Deficit(-? of F�ve�ues an�i Sanroes Q+a
Ek�rdit� and Othe^ Uses 3D� 354 54 �1,OOD -466,587 84,413 -580,439 -493,005 91,434 3,067,�9
r�a� a�arres �anary 3,5u�+ 3,5�w o 3,3ao,573 3,3ao,573 0 �+,7a8,99i u,�u8,99� o i,o6i,'l82
ffi]arnes Ibcenber 31
3�erved o 0 0 3,342,909
ih�^ese've� 3.844 3,89g 54 2,78�,573 2,S13,98fi 84,413 0 3.5G8,�2 3.659,986 9�,�3u �6,082
Total F� �]ames Daoad.�a� 3� 3,S�W 3,898 54 2,'189,573 2,873,986 84,4�3 3,568,�2 3,659,98b 9�,434 4,t48,99i
(See r�otes to firer�ial statere�rts)
City of Brooklyn Center, Minnesota
DEBT SERVICE�FUNDS
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 other than that payable from special
assessments and debt issued for and serviced primarily by the City.
The Debt Service Funds are maintained on the modified accrual basis of
accounting. Re venues are recognized in the accounting period in which
they become a vailable and measurable. Expenditures are recognized in
the accounting period in which the related liability is incurred.
The City�s Debt Service funds included in this section are:
Park Bonds Debt Service Fund: This Fund was established to account
for the accumulation of resources for payment of principal and
interest on general obligation bonds authorized by the electorate in
1957 to finance various park improvements.
Librar,y Bonds Debt Service Fund: This Fund was established to account
for the accumulation of resources for payment of principal and
interest on general obligation bonds authorized by the electorate in
1964 to finance the construction of the City Library. The Library was
so 1 d to Hennepin County during 1 g69 and the proceeds of the sa 1 e are
used for making principal and interest payments. The taxes levied for
debt redemption have been cancelled.
General Obli�ation State Aid Street Bonds Debt Service: This Fund was
established to account for the accumulation of resources (which
include a combination of state aid allotments and special assessments)
for payment of principal and interest on bonds issued in 1970 to
finance a comprehensive improvement and upgrading of those arterial
streets which qualify as state aid routes.
1969 Buildin� and Improvement Debt Service Fund: This Fund was
established to account for the accumulation of resources for payment
of principal and interest on general obligation bonds authorized by
the electorate in 1968 to finance construction of the Civic Center,
Municipal Service Garage, East Fire Station, and the development of
existing parks.
Park Bonds of 1 80 Debt Service Fund: This Fund was established to
9
account for the accumulation of resources for payment of principal and
interest on general obligation bonds authorized by the electorate in
1980 to finance the improvement and eqipping of parks, parklands and
related public recreational facilities. These improvements include
neighborhood parks, Central Park, Palmer Nature Center, Shingle Creek
Trailway and the Arboretum.
Debt Service Funds(continued)
Genera 1 Ob 1 i�ation Tax Increment Bonds of 1983 Fund: This Fund was
established to account f'or the accumulation of resources for payment
of principal and interest on general obligation bonds issued in 1983
to finance purchase of land and installation of utilities for housing
for the elderly.
General Obli�ation �Tax Increment Bonds of 1985 Fund: This fund was
established to account for the accumulation of resources for payment
of rinci al and interest on ene 'n
P P ral obli aiton bonds issued 1985
g g
to finance the purchase and redevelopment of the historic Earle Brown
Farm in Brooklyn Center.
i r i r i �r
a����
s��
ar�� sntar� �r
Deoa�ber� 31, �9�
with CaoFarativ�e Tbtals fcr Deoad�er 31, 1995
State Ai.d �rovanazt Paric G.O. Tax Ir� G.O. T�x Irrs� Totais
Park Librar5' Street Buildirg &rx9s mazt Borxis maZt &rrls
Brnds &r�ds Bor�ds Bmds of 1980 of 1983 of 19� 196b 19�
ASSElS
Ten�orary �r�v�art.s a�7,858 86,9�7 5,697 421,�60 194,63� 378,�23 �53,519 �,748,334 1,517,7�5
Taxes necjeivab]s:
Delir�nt 14,086 17,203 31,289 39,238
o�" 3,097 4� 2,� 6,034 2,48z
TCJPAL ASS'EELS 20�(,858 86,947 5,b97 438,643 212,�8 380,705 453,519 1,785,b57 1,g9,465
L�IABILTI� ADID �l�ID BALAtJ�
Liabilities
Advame ooll�ectim af ta�a�s 0$ 0
5,697 5,6g7 0
Total L3abilities 0$ 0$ 5,b�7 0 0$ 0 0 5,b97 0
F1�� B3]arne
�ved 438,643 212,�8 38D,705 453,519 1,4�5,�55 1,291,460
ik�ved a71,858 86,9�►7 294,805 a68,005
Totat 27T,858 86,947 0 438,643 212,?88 380,705 453,519 1,779,9b0 1,�9,�65
T�TAI.. LIABILIT�S At�ID F[� BAtAt�$ z07,�8 86,9�7 5,697 438,643 r12,�8 3�'J,705 �53,519 1,'T�,657 $>>�9,465
(See mtes to firgr�ial state�nts)
aty �yn c� cz
l�t servioe Fla�s
O:NBII�IDJG STA'�fldf �.UEl��, D�FI�IDTIUI�, AI�ID Q�AN�S IN Fi�ID BALANCES
Year fl�de� Deo�er 31, �9�
With O�mpe�'ative lbta].s f� the Year Etzied Ibc�enber 31, 1985
State Aid �inproveva��t Par�k G.O. Tax Imx�a- G.O. 7�c Irx� Tbtals
Park L,ihrary Str�eet Buildirg Ba�s mszt Bar�s m�t Barls
&nds Harrls Ba�ds Baxis of 1980 of 1963 19� 1986 1985
F�vaza�
Ga�ral pr��rty ta�ces 1u4,618 145,851 224,626 182,962 698,057 381,952
Tnterest cn irN�n1',s 18,896 7,904 917 41,151 13,�1 16,b11 41,47� 140,234 91,'150
Int,ergwe�rm�tal neve�.ae State
shar�ed ta�es: I�sstead c:+edit 45,079 39,4�25 14,5T2 99,076 91,8a7
pt� 0 118,095
Total �venaes 18,896 7,904 917 23�,8U8 198,551 �,809 22�►,436 937,367 683,604
�1�1II'�
Pr'iI]Cipal 60,000 1 70,000 5,000 275,000 �i5,000
T.rit�st 22,140 37,700 98,82� 73�938 Z13,817 506,415 �i0,665
Fisral age�t fees 135 142 169 69'7 1,143
�v Othe^ 4,206 3,391 6,027 13,617 2,648
Total F�a�it� 0 0 8�2,275 182,048 172,380 78,938 29D,53�► 796,175 508,7�3
Fkoess cr Deficit( of �ver�ues
Ove�^ E�it�u� 18,89b 7,904 81,�8 48,8�0 26,1T1 176,871 �6,098 141,192 174,861
Otl�er Firgr�ing Sa��es m tlses(-)
Oper'atirag transfers in 85,000 �r� 595,68'7
O�ratirg transfers aut �,697
Tbtal Oth�' Fimncit�g San'�s
ilses; 0 0 79,3�3 0 0 0 0 79,303 995,68'7
Dccess cr Deficit(-) of �ve�aPS ar�
I
OtY�et' Sotu'ces we' E�cpaYliU][es 18�8�6 7,904 -2,055 118,800 3i,177 176e871 �br� ���95 770,548
Fl.a�d �larnes JarUary 1 188,962 75,043 2,0�5 389,843 186,111 2�3,834 509,617 1,559,�b5 788,917
F1a�d �larnes Decenber 31 a71,�8 �,947 0 �138,643 212,288 380,705 453,519 1,'T79,960 1,559.�b5
(See no�es to fir�rcial stateoaits)
City of Brooklyn Center, Minnesota
CAPITAL PROJECTS FUNDS
The Capital Project�s Funds were established to account for all
resources used for the acquisition of capital facilities by the City
except those financed by Special Assessment and Enterprise Funds.
The Capital Projects Funds are maintained on 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:
Capital Pro, Fund: This Fund was established in 1968 to provide
funds, and to account for the expenditure of such funds, for major
capital outlays (which shall include, 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 sources of revenue for the Fund include ad valorem
taxation, transfers from other Funds, issuance of bonds, federal and
state grants, and interest earnings.
Municipal State Aid for Construction Fund: This Fund was established
to account for the state a 1 1 otment of aso 1 ine tax i s
collect on used
g
for transportation related construction ro'ects.
P J
City of Brooklyn Center D-1
Capital Pro�ects Funds
COI�INING BALANCE SHEET
December 31, 1986
With Cosnparative Totals for December 31, 1985
Municipal
Capital State Aid Totals
Projects for
Fund Construction 1986 1985
ASSETS
Temporary investments 2,855,857 3,036,562 5,892,419 6,0$0,907
Due f'rom other funds 33,938 35,928 69,866 252,93�+
Interfund loan liquor 286,003 286,003 296,648
Due from other governments 1,398,355 1,398,355 1,451,919
i TOTAL ASSETS 3,175,798 4,470,845 7,646,6�+3 8,082,408
LIABILITIFS AND FUND BALANCE
Liabilities
Aeeounts payable 271,318 271,318 17,163
Contracts payable 6�0,498 2,711 643,209 30,995
Due to other flinds 65,286 65,286 288,139
Total Liabilities 911,816 67,997 979,813 336,297
Fund Balances
N Unexpended appropriations 404,391 67,470 471,861 578,107
Balance restricted to State-
approved projects 2,016,387 2,016,387 2,320,522
Unreserved 1,859,591 2,318,991 4,178,582 4,847,�+82
Total Fund Balances 2,263,982 �,402,848 6,666,830 7,746,111
TOTAL LIABILITIES
AND FUND BALANCES $___4,470,845 $___7,6�+6,643 $___8,082,408
(See notes to financial statements)
i
-73-
City of Brooklyn Center D-2
Capital Projects Fund
CONIBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
Year Ended December 31, 1986
With Comparative Totals for the Year Ended December 31, 1985
Municipal
Capital State Aid Totals
Projects for ___M_________�______
Fund Construction 1986 1985
Revenues
Intergovernmental:
State grants 651,301 651,301 873,�401
Interest on investments 288,423 300,705 589,128 709,607
Sale of Land 138,759 138,759 0
Other 32,604 45,957 78,561 15,183
Total Revenues �+59,786 997,963 1,457,749 1,598,191
Expenditures
Capital Outlays 1,498,53� 6�2,329 2,140,863 386,817
Total Expenditures 1,�98_53� ___642,329 ___2,1�+0_863 _____386_817
Excess or Deficit(-) of Revenues
Over Expenditures -1,038,7�8 355,634 -683 1,211,37�
Other Financing Sources or Uses(-)
Operating transfers in 15,662 5,697 21,359 0
Operating transfers out -�17,526 -417,526 -651,�412
Total Other Fina.ncing Sources
or Uses(-) 15,662 -411,829 -396,167 -651,412
Excess or Decifit(-) of Revenues
and Other Sources Over Expenditures
and Other Uses -1,023,086 -56,195 -1,079,281 559,962
Fund Balance January 1 3,287,068 �,459,043 7,7�6,111 7,186,1�►9
Fund Balance December 31 2,263,982 4,402,848 6,666,830 7,746
(See notes to financial statements)
-74-
rr �■�r r�r r w� r� wi �r t� w� r�
City of Brooklyn Center S-3
Capital Pro�ects Fund
PROJECT-LENGTH SCf�DULE OF CONSTRUCfION PROJECTS
From Beginning to December 31, 1986
Park Federal State Co�. Fund Total
Bonds Lawcon LCMR Develop. Balance Other Authorization Expenditures
Central Park/Garden City Trail 8,500 42,500 3�,000 85,000 85,552
Palmer Lake Basin 102,500 71,OT0 82,915 256,485 228,271
Central Park III 185 ,806 85,000 270,806 253,667
Neighborhood Parks 730,560 125,004 48,091 72,038 975,b93 9b5,310
TOTAL PARK BOND PROJECTS 1,027,366 113,570 116,915 125,004 133,091 72,038 1,587,984 1,532,800
Co�unity Center Improvements 160,000 160,000
Central Park Plaza 155,000 323,976 478,976 499,457
Evergreen Park/Area Improv�ent 267 ,980 68,930 336,910 282,718
Golf Course 1,200,000 500,000 1,700,000 1,559,540
Civic Center Building Aecess Z0,000 20,000 8,520
Poliee Department C�unications 55,000 225,000 280,000 276,444
TOTAL P�.IECTS 1,182,366 113,570 116,9�5 145,004 2,140,047 865,968 4,563,870 4,159,bT9
(See notes to financial stat�ents)
City of Brooklyn Center s-�
Munieipal State Aid Construetion Fund
PROJECT-LENGTH SCHEDULE OF CONSTRUCTION PROJECTS
From Beginning to December 31 1986
Appropriation Expenditures
Project
Logan Avenue Reconstruction 1,127
6gth Avenue sidewalk 20,590 12,737
Street improvement Dallas Road 58,000
Trunk Hi hwa No. 252 77,264 75,050
Y
Humboldt A enue sidewalk 23 787 23 ,302
Street im rovement 6 th and Oth Avenues North 305�000 304,907
A 9 7
Street
Totals 484,6�+1 417
i
1
-76-
City of Brooklyn Center, Minnesota
SPECIAL ASSESSMENT FUNDS
The Special Assessment Funds were established to account for the
resources and expenditures required for the acquisition and construc-
tion of capital facilities or improvements financed wholly or in part
by special assessments levied against benefited properties, and to pay
principal and interest on the general obligation special assessment
bonds sold to finance these improvements. The method of financing
these projects distinguishes special assessment improvements from
those which benefit the entire City and which are financed by general
re venues or general obligation bonds.
The City's Special Assessment Funds are maintained on 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.
There are twe 1 ve Specia 1 Assessment Funds inc luded in this section.
The Fund names indicate the year that the bonds were issued to finance
the various improvement projects contained therein.
f
1
City of Brooklyn Center
Special Assessment Funds
COMBINING BALANCE SHEET
December 31, 1986
With Comparative Totals for December 31, 1985
1959� 1960AB 1961AB 1963A 1965A 1966A 1969A 1970
ASSETS
Temporary investments 1,088 965 51 532,723 1�40,8g2 165,231 128,491 611,838
Accounts receivable
Special assessments receivable:
Deferred 1,855 23 3,805 27,329 21,215
Delinquent 91 76 233 �+73 55�+ 13,253
Due from other funds
TOTAL ASSETS 1-,088 2, 820 _$_______165 _$___532,799 _$___1�1,125 _$___169,509 _$___6�►6,306
LIABILITIES AND FUND BALANCE
Liabilities I
Accounts payable
Accrued interest payable
Due to other f�.inds
Construction loans payable
Deferred revenue 1,855 23 3,805 27,329 21,215
Bonds payable 10,000 40,000 60,000
Total Liabilities 0 1,855 23 0 0 13,805 67,329 81,215•
Fund Balance
Reserved:
Debt Service 155,704 89,045 565,091
Unexpended appropriations
Unreserved:
Undesignated deficit(-) 1,088 965 1�42 532,799 1�41,125
Total Fund Balances 1,088 965 1�2 532,799 1�41,125 155,70� 89,0�45 565,091
TOTAL LIABILITIES AND FUND BALANCES 1,088 165 _$___1�11,125 _$___169,509 _$___156,37�► �$___646,306
(See notes to financial statements)
-77-
E-1
Totals
Construction
1973 1976 1982 Fund 1986 1985
255,383 473,724 1,267,443 636,285 4,21�4,11b 3,563,823
15,640 12,860 28,500 55,243
24,640 16�+,298 1,684,078 301,926 2,229,169 2,551,432
5,171 1,806 18,992 2,114 �+2,763 50,505
39,221 39,221 239,361
285,194 639,828 2,986,153 992,�t06 6,553,767 6,460,36�4
3,017 21�+,230 217,247 57,305
0 56,266
7,349 7,349 192,7�7
896,023 896,023 653,297
2�►,640 164,298 1,68�,078 301,926 2,229,169 2,551,�+32
_____305,000 2,025,000 2,�440,000 2,765,000
24,640 469,298 3,712,095 1,419,528 5,789,788 6,276,047
i
170,530 980,370 1,603,227
112,032 112,032 12,258
260,554 -725,9�+2 -539,15�+ -328,423 -1,431,168
260,554 170,530 -725,9u2 -427,122 763,979 N 184,317
285,194 639,828 _$_2,986,153 992,406 _$_6,553,767 _$_6,�160,364
j
City of �ooklyn �ter E-2
Special Ass�a�t F1ar1s
03�BIIdIING SfA'ID�Tff �11II�1UE5, F�II�IDTl[1F�'S ANID QjAtJ� IN FU�ID HAL�AI�(E
Yeer EY�ed Deo�ber 31, 1986
With C.�parativ�e TtrtaLs fQ^ �e Year FYded Deoa�ber 31, 1985
E�ess of
Ot��er �vaues
Aeve�es Ot!'�er 5aa're Ekpe�dittaes Uses Md Saar�es 19�
Ove'
Inte�es-t m A��t TYarBf'es Brnd Gmstrvetim TYatBfes D�pe�dit�a'ps FLrd Ba]a�'ne F1r�d ffi]ame
�1nd Tata1 Investme�ts Irnare in Zbtal Inte�st nrrl Ott,�e out Md tlses ,Tan.ary 1 Deoenber 31
igg9� �,i�6 z9 �,o�T o �,»6 -a6 i,o88
�960AB 1,0a6 1,0�8 83 83 945 aD 965
1961AB 51 3 48 0 5� 91 142
1963A 48,429 3 �.�9 0 i18,429 484,3'TO 532,799
1965�A 12,80D 12,80D 0 12,8D0 126,3b 141,1?$
1966A 3�i,8T1 16,2�13 10,6� 1,565 1,440 1S �''i,306 13�,398 155 I
19b�A 12,721 15,� �r� 3r900 106 24,547 64,� 89�045
1970 67,86y 57.10D 10,764 5,495 5,3'N 1� 6�2,3b9 50�,722 565,091
1973 52,140 21,Z19 30.861 0 52 2�6,414 �i0,55� I
1976 103,656 33,8fi2 63,794 17,515 17,�t15 40 86,'W1 84,389 170,53D
1962 508,516 91,698 �116,818 182,967 182,750 217 325,549 -1,051,49t -'TE,,942 I
�strvetim 144,991 38�99� 106,002 3?7,957 582,679 40,841 541,836 -A.T31 367 -427,122
Totals 1986 996,015 339,153 b��� 377,957 7'9�,310 �1,776 542,534 0� 57'9,662 184,317 763,97'9
Totals 19ff 1,166,30� 2�L 873�590 554�551 1�OSTr53a 290 80rTT�$6 5 6Z1�u39 �3r122 184,317
I
{See rrkes to firc�ial statearits)
1
1
City of Brooklyn Center S-5
Special Assessment Funds
PROJECT-LENGTH SCI�DULE OF CONSTRUCfION PROJECTS
From Beginning to December 31, 1986
i
Overex�ended(-)
Project Unexpended
Type of Project Number Appropriations Expenditures Appropriations
M�
Sanitar sewer 84 92 �117 91,906 511
Y
Water main 84-8 1,088 -1,088
Water main �82-6 0
Street 82 36,140 39,916 3,776
Sanitary sewer 82-10 0
Water Main 82-11 0
Water Ma.in 85-4 56,402 60,644 -4,242
Street 85-5 271,602 326,329 -54,727
Street 85 290,520 270,910 19,610
Street 85-12 76,397 $5,865 -9,4b8
Street 85-1�4 37,615 38,34�1 -729
Storm Sewer 86-08 168,543 1�+5,12� 23,419
Street 86-10 365,109 231,038 13�+,071
Water and Sewer Main 86-20 80,34$ 71,897 8,451
1,363,061 112,032
(See notes to financial statements)
-80-
City of Brooklyn Center, Minnesota
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 Liquor Fund: This Fund was established to account for the
operations of the City's three municipal off-sale liquor stores.
Public Utilities Fund: This Fund was established to account for the
operations of the City owned water and sanitary sewer systems.
City of Brooklyn Center
Enterprise Funds
C�INING BALANCE SHEET
December 31, 1986
With Comparative Totals For December 31, 1985
N Municipal Public Totals
Liquor Utilities
Fund Fund 1986 1985
ASSETS
Current Assets
Cash on hand 4,300 �,300 4,300
Temporary investments 61,299 3,829,982 3,891,281 3,618,2�1
Accounts receivable 6,787 112,05� 118,841 106,01�4
Less: Allowance for
estimated uncollectible -5,707 �,707 -3,057
Assessments receivable 2,0�40 2,0�40 2,617
Due from other governments 113 113,266 181,076
Inventoriies:
Materials and supplies 10,791 10,791 12,889
Merchandise for resale 261,7�13 261,7�3 241,�70
Prepaid expenses:
M.W.C.C. charges 72,020 72,020 68,392
Rent 1,946 �,9�6
Insurance 4,000 �4,000 4,000
Maintenance 3,272 3,272 3,710
Accrued water and sewer
revenue 193,375 193,375 �93,807
Total Current Assets 337,640 4,333,528 �,671,168 4,433,�59
Restricted Assets
Temporary investments �4,000,000 4,000,000 �4,000,000
Due from other governments 181,599 181,599 197,22�
Debt retirement investments 131,735 131,735 133,490
Construction flznds invested 0 38,65�+
Assess. recv. deferred 96,667 96,667 110,759
Total Restricted Assets 0 4 410 001 4 410 001 4�480 123
Fixed Assets
Mains and lines 12,035,331 12,035,331 11,926,528
Structures 216,547 3,2�+7,561 3,46�4,108 3,297,863
Equipment 153,365 353,314 506,679 �92,373
Land 100,878 24,816 125,694 125,694
Land improvements 5,89$ 5,898 5,89$
Leasehold improvements 39,670 39,670 39,314
Construction in progress 156,545 156,545
516,358 15,817,567 16,333,925 15,887,670
Less: Allowance for
depreciation 167,118 4,24�1,558 4,411,676 4,096,010
Total Fixed Assets 349,240 -_11,922,249 __11
TOTALS 686 ,880 20,316 21,003,�+18 20,705,242
-81-
Fw1
Municipal Publie Totals
Liquor Utilities
Fund Fund 1986 1985
LIABILITIES, CONTRIBUTIONS
AND RETAINED EARNINGS
Current Liabilities
Accounts payable 78,156 18,104 96,260 219,962
Contraets payable 13�,239 13�,239 41,981
Due to other fLinds 36,363 36,363 1�14,665
Due to other governments 0 5,792
Acerued Liabilities 29,420 6,011 35,431 42,400
Accrued vacation and
sick pay 6,353 11,728 18,081 19,�08
Current portion long-
term debt 11,585 45,000 56,585 55,6�4
Total (�.irrent Liabilities 125,514 251,4�5 376,959 529,852
Long Liabilities
Construction loan 286,004 286,00�1 296,6�8
Revenue bonds 270,000 270,000 315,000
Less: Current portion 11,585 45,000 56,585 55,644
Total Long- Liabilities 27�►,419 225,000 �99,�+19 556,004
Fund Equity M
Contributions 10,596,980 10,596,980 10,513,674
Retained earnings:
Reserved:
Metro Waste Control
Commission 181,599 181,599 197,220
Debt retirement 131,735 131,735 133,�+90
Construetion funds 0 38,65�I
Working capital 620,000 620,000 620,000
Restrieted assessments 96,667 96,667 110,759
Plant expansion �,000,000 4,000,000 4,000,000
Unreserved 286,947 4,213,112 4,500,059 4,005,589
Total Retained Earnings 286,947 9,243,113 9,530,060 9,105,712
Total Fund Equity 286,947 19,840,093 20,127,040 19,619,386
TOTALS 686,880 20,316,538 21,003,418 20,705,2�+2
(See notes to financial statements)
-82-
City of Brooklyn Center F-2
Enterprise Funds
CONIBINING STATEMENT OF REVENUFS, EXPENSES AND CHANGFS IN RETAINED EARNINGS
For the Year Ended December 31, 1986
With Comparative Totals for the Year Ended December 31, 1985
Municipal Publie Totals
Liquor Utilities
Fund Fund
Operating Revenues
Gross margin on
product sales 5 8 4 8 46 64
75, 3 575, 3 5, 3
Charges for services 1,5�+5,469 1,545,469 1,625,525
Total Operating Revenues 575,�+38 1,5�5,�169 M 2,120,907 N 2,172,168
Operating Expenses
Personal services 266,170 257,171 523,3�1 �182,539
Contraetual services 99,174 1,204,393 1,303,567 1,265,742
Supplies and materials 6,907 28,917 35,82� 32,884
Heat, light, power 21,357 122,706 144,063 139,150
Depreciation 15,689 300,133 315,822 312,447
Other 26,466 26,466 32,577
Total Operating Expenses 435,763 1,913,320 2,349,083 2,265,339
Operating Income 139,675 -367,851 -228,176 -93,171
Nonoperating Revenues or Expenses(-)
Interest ea.rned 8,91� 760,701 769,615 796,90�I
Other revenue or expense(-) 6,372 10,286 16,658 17,333
Interest and fiscal
agent fees -24,807 -12,399 -37,206 -24,587
Nonoperating Totals -9,521 758 588 7�+9 067 789 650
Income Before Operating
Transfers 39��737 520 696_479
Operating Transfers
In or Out(-) _100,000 3,�57 -96,543 -103,500
Net Income 30,15� 39�,194 424,3�8 592,979
Retained Earnings January 1 256,793 8,8�48 9,105,712 8,512,733
Retained Earnings December 31$ 286,9�7 9,243 9,530,060 9,105,712
(See notes to financial statements)
-83-
City of Brooklyn Center F-3
Enterprise Funds
COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION (Continued next pa.ge)
For the Year Ended December 31, 1986
With Comparative Totals for the Year Ended December 31, 1985
Municipal Public Totals
Liquor Utilities
Fund Fund 1986 1985
Sources of Financial Resourees
Operations:
Net ineome for year 30,154 394,194 �►2�,3�8 592,979
Add: Items not requiring
current outlay
depreciation 300,133 315,822 312,�47
Total Resources Provided
By Operations 45,8�3 69�,327 7�0,170 905,426
Contributions toward
construction 83,306 83,306 238,183
Increase in long-term debt 0 286,004
Decrease in restricted assets 70,122 70,122 2,716
Total Sources �t5,843 8�7,755 893,598 1,432,329
Uses of Finaneial Resources
Purchase of properties 16,148 430,263 446,411 760,156
Debt retirement 11,585 45,000 56,585 45,000
Abandoned property 0 2,7�40
-----�---26-
Total Uses 27,733 75, 3 502 996 807 896
Net Inerease or Decrease(-) in
Working Capital 18,110 372,492 390,602 624,433
-84-
i
City of Brooklyn Center F-3
Enterprise Funds
CON�INING STATEMENT OF CHANGES IN FINANCIAL POSITION (Continued from
For the Year Ended December 31, 1986 prior page)
With Comparative Totals for the Year Ended December 31, 1985
Municipal Public Totals
Liquor Utilities
Fund Fund 1986 1985
Elements of Increase or Decrease(-)
in Working Capital
Temporary investments -28,19� 301,230 273,040 710,252
Accounts receivable 505 9,672 10,177 -4,87�►
Assessments receivable -577 �77 -2,687
Due from other funds 0 -25,702
Due from other governments -67,810 -67,810 121,713
Inventories 20,273 -2,098 18,175 7,814
Prepaid expense 1,938 3,198 5,136 -15,967
Accrued revenue -�32 -432 -1,7$$
Accounts payable 3,251 120,�451 123,702 -106,611
Contraets payable 10,62�1 -102,882 -92,258 -37,637
Due to other flinds 91 108,211 108,302 22,25�
Due to other governments 5,792 5,792 5,792
Current portion of lon�
debt -94 -941 -10 6�►4
Accrued liabilities 10,559 -2,263 8,296 -25,89$
Net Increase or Decrea.se(-)
IN WORKING CAPITAL
(See notes to financial statements)
1
-85-
i City of Brooklyn Center F-4
Municipal Liquor Fund
STATEMENT OF OPERATIONS
Year Ended December 31, 1986
With Comparative Totals for the Year Ended December 31, 1985
Year Ended December 31,
198b 1985
Sales
M Liquor 754,203 762,226
Beer 1,213,223 1,152,826
Wine 406,685 383,�+70
Soft drinks 48,209 42,929
Other merchandise �3,�129 47,062
Total Sales (Net of Sales Taxes) 2,465,7�+9 2,388,513
Less: Cost of Sales
Beginning inventory 241,470 236,381
Purchases (Net of diseounts) 1,910,584 1,8�+6,959
Merchandise available for sale 2,152,054 2,083,3��
i� Less: Ending inventory N__ 261_743 241
Cost of Sales N_ 1_890,311 ___1,8u1-870
Gross Margin 575,�38 5�6,6�►3
Operating Expenses 435,763 �+15,�09
Operating Income $_____139,675 $_____131,234
(See notes to financial statements)
I
-86-
City of Brooklyn Center F-5
Municipal Liquor Fund
STATEMENT OF OPERATING EXPENSES
Year Ended December 31, 1986
With Comparative Totals for the Year Ended December 31, 1985
Year Ended December 31,
1986 1985
Operating Expenses
Personal services:
Salaries and wages 221,726 205,855
Payroll Taxes 18,156 14,327
�nployees Benefits M_N 26,288 20,223
266,170 240,405
Contractual Serviees:
Professional Services 3,125 3,22�
Insurannce 7,768 2,120
Maintenance and repairs 2,779 5,729
Rent and administration 81,016 82,953
Miscellaneous 4,486 �4,025
99,174 98,047
Supplies:
General Supplies 6,907 8,927
Heat, light and power 21,357 23,291
Depreciation r 15,689 N 12,162
Other 26, �166 32, 577
Total Operating Expenses 435,763 415 409
(See notes to finaneial statements)
-87-
1
City of Brooklyn Center
Public Utilities Fund
Balanee Sheet
December 31, 1986
With Comparative Totals for December 31, 1985
Totals
WaterSewer
Aceounts Aeeounts M 1986 ____1985
ASSETS
Current Assets
Temporary investments 1,118,373 2,711,609 3,829,982 3,528,752
Accounts receivable 37,351 74,703 112,054 102,382
Assessments receivable 2,040 2,040 2,617
Due from other governments 113,266 113,266 181,076
Inventories materials
and supplies 10,791 10,791 12,889
Prepaid expenses 72,020 72,020 68,822
Accrued revenue 54,848 138,527 193,375 193,807
Total Current Assets 1,223,403 3,110,125 4,333,528 �4,090,3�5
Restricted Assets
Temporary investments 3,700,000 300,000 4,000,000 �4,000,000
Due from M.W.C.C. 181,599 181,599 197,220
Debt retirement investments 131,735 131,735 133,�90
Construction funds invested 0 38,65�+
Assessments receivable
deferred 96,667 96,667 110,759
Total Restricted Assets 3,928,402 481,599 4,410,001 �,480,123
Fixed Assets
Mains and lines 7,091,961 4,943,370 12,035,331 11,926,528
Structures 2,213,096 1,034,465 3,2�17,561 3,083,841
Equipment 176,657 176,657 353,31�1 352,119
Land 24 816 2�4, 816 2�4 816
Construction in progress _____156,545 _____156_545
9,663,075 6,15b,492 15,817,567 15,387,304
Less: Allowance for
Depreciation 2,295,738 1,948,820 4,244,558 3,944,425
Total Fixed Assets 7_367_337 N 4,205_672 __11_573_009 __11,442_879
TOTALS 12,519,142 7,797,396 20,316,538 20,013,3�7
(See notes to financial statements)
-88-
F-6
Totals
Water 5ewer
Aceounts Accounts 1986 1985
LIABILITIFS, CONTRIBUTIONS AND
RETAINED EARNINGS
Current Liabilities N
Aecounts payable 18,104 18,104 138,555
Contracts payable 134,239 13�,239 31,357
Due to other flxnds 21,2u8 15,115 36,363 144,57�
Due to other governments 0 5,792
Aecrued liabilities 8,869 8,870 17,739 15,476
Current portion of
long-term debt 45,000 �45,000 4�,000
-------1 80 4
Total Current Liabilities 227,�460 25 5 3,75
Long-Term Liabilities
Revenue Bonds 270,000 270,000 315,000
Less: Current Portion 45,000 45,000 �5,OOQ
Total Lo Term Liabilities 225 000 0 225,000 270,000
Fund Equity
Contributions 5,003,225 5,593,755 10,596,980 10,513,674
Retained Earnings:
Reserved:
Metro Waste Control assets 181,599 181,599 197,22�
Debt Retirement 131,735 131,735 133,49�
Construction funds 0 38,65�
Working Capital 170,000 �50,000 620,000 620,000
Appropriations and
assessments 96,667 96,667 110,
Plant expansion 3,700,000 300,000 �+,000,000 �1,000,000
Unreserved 2,965,055 1,248,057 4,213,112 3,7�8,796
Total Retained Earnings 7_063,457 2_179,656 ___9_243 ___$,8�+8�9�9
Total Fund Equity 12,066,682 7,773,�11 19,8�►0,093 19,362,593
TOTALS 12,519,1�2 7,797,396 20,316,538 20,013,347
1
1
I
-89-
City of Brookln Center F-7
Public Utilities Fund
STATEMENT OF OPERATIONS AND CHANGES IN RETAINED EARNINGS
For the Year Ended December 31, 1986
With Comparative Totals for the Year Ended December 31, 1985
Totals
Water Sewer
Aecounts Accounts 1986 1985
Operating Revenue
Service to consumers 456,352 1,065,217 1,521,569 1,518,680
Service hook charges 9,653 1,468 11,121 45,853
Sale of ineters (net) �4,658 4,658 1,071
Penalties 2,616 5,505 8,121 59,921
Total Operating Revenue 473,279 1,072,190 1,5�5,�+69 1,625,525
Operating Expenses 70b_693 N` 1,206_627 N_ 1_913,320
Operating Income or Loss(_) _233_414 �___134,437 N_ 367,851 M_ 224,�405
Nonoperating Revenues or Expenses(
Interest Earned:
Investments 469,991 270,687 7�+0,678 766,186
Special Assessments 11, 11,971 16,792
Metro Waste Control
Comnission 8,052 8,052 10,047
Construction Funds 0 3,879
Other 6,872 3,�14 10,286 12,809
Interest and fiscal fees 12,399 12,399 -14,154
Total Nonoperating 476,435 282,153 758,588 795,559
Income Before O erati
P n8
Transfers 243,021 147,716 390,737 571,154
Operating Transfers In or Out(-) 3,457 3,�57
Net Income 243,021 151,173 39�,�9� 571,15
Retained Earnings January 1 6_820_436 2,028,�183 8,848,919 8,277,765
Retained Earnings December 31 $___7,063,457 $___2,179,656 $___9,2�+3 $___8,848,919
(See notes to financial statments)
-90-
I
City of Brooklyn Center F
Public Utilities Ft�nd
WATER OPERATING E77�ENSE
For the Year Ended December 31, 1986
With Comparative Totals for the Year Ended December 31, 1985
r~ Classification by Function Y r E 31,
�Source of Admin- Customer
Supply Transmission istration Accounting 1986 1985
Personal Services: 146,762 �35,8�+�
Salaries and wages 26,704 51,263 37, 76 31,619 g,959 �Q�7
Payroll taxes 9,959 8�g�� 8,973
flnployee benefits 8
1 26 55,995
31,619 165,581 155,5�+7
26 0�+ 5 3
7
Contractual Services: 22,341 5,�5�
Professional Services 13,795 7,011 1,535 07 »��7p 1p,483
�o Postage 213 5,906
6,119 3,45�
Insurance 62,735 86,359
Repairs and maintenanee 35,787 2��9b� ���6 85��� 82,018
Rent and administration �2,1130 7>37� �9�80� �a�96�
Equipment rental
~M �+9,582 32,186 107,228 18,448 207,�+u4 206,429
1 03�+ 790 26 568 16 608
terials 6,9u8 17,796
Supplies and ma
Heat, Light and Power: 881 102,870 95,�82
Electricity 101,989 4,003 5,192
Gas 4,003 w
105,992 881 0 0 r 106,873 100,374
Depreciation 92,695 107,532 M 200,227 19�►�� 8 9
281,92� 209,b58 164,257 50,857 706,693 673,0�►7
Totals i
(See notes to financial statements)
City of Brooklyn Center F-9
Public Utilities Fund
SEWER OPERATING EXPENSE
Fpr the Year Ended December 31, 1986
With Comparative Totals for the Year Ended December 31, 1985
Classification by Function
Year Ended December 31,
Disposal ar� Admin- Customer
Pumping Transmission istration Accounting 1986 1985
Personal Services:
Salaries and wages 32,56b 20,529 �9,339 337 T2,771 67,082
Payroll taxes 9,920 9,920 10,73�
88 8899 8771
Employee benefits 99
32,566 20,529 38,158 M �337 9�,590 86,587
Contractual Services:
Professional Services 2,139 3,293 5,432 3,322
Postage 2,653 2,653 2,398
Insurance 5,906 5,906 3,45�
Repairs and maintenanee 07�4 1, 572 5, 6�+6 24 845
Rent and administration 83,211 83,21t 79 ,362
Equipment rental 12,430 7,27� 19,7�+ 18�96�
Metro Waste Control
Commission 850,889 850,889 806,390
City of Brooklyn Park 23,508 23,508 22,53�
880,610 0 106,412 9,927 996,9�+9 961,266
Supplies and materials 1,596 33 720 w 2,3�9 7,3�9
Heat, Light and Power:
Electricity 15,441 15,441 14,855
G� 392 392 630
�5,833 o o o i5,833 �5,485
Depreciation 51,486 48,�20 99,906 106,196
Totals 982,09t 68,982 145,290 w 10,264 1,206,627 1,176,883
(See notes to financial statements)
City of Brooklyn Center, Minnesota
AGENCY FUND�
The Agency Fund was established to account for assets held by the City
as an agent for other City Funds, governments, or individuals.
The Agency Fund is maintained on the modified accrual basis of
accounting.
The City�s Agency Fund included in this section is:
Fire Department Relief Association A ency Fund: This fund was
established to account for the collection of property taxes by the
City for the Brooklyn Center Volunteer Fire Department Relief
Association to be used for fire fighters� pensions.
City of Brooklyn Center G-1
Fire Department Relief Association Agency Fund
STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
For the Year Ended December 31, 1986
Balanee Balanee
December 31, December 31,
1985 Additions Deduetions 1986
Assets
Investments 18,�46$ 23,759 42�227
Taxes receivable w 7_197 3,688 10,885
Total Assets 25,665 27,��7 0$ 53,112
Liabilities
Due to other fl,inds �3,396 �3,396
Prineipal's balance M 25_665 M___ _15,9�9 M____ 9_716
Total Liabilities 25,665 27,��7 0$ 53,1�2
(See notes to financial statements)
-93-
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.
City of Brooklyn Center H-1
SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS AND SOURCES
For the Y� Ended December 31, 1986
r�r rrr rr.rr �rrr.�r r����.ra..� r���
Balance Balance
January 1, December 31,
1986 Acquisitions Disposals 1986
Investments in General Fixed
Assets (At cost)
Land and improvements 1,176,011 251,520 1,427,53�
Buildings and improvements
(includes buildings) �,758,600 828,924 5,587,524
Park properties
(includes buildings) 3,832,832 3,832,832
Furniture 388,032 30,778 �+18,810
Departmental equipment 3,1�7,467 635,902 3,783,369
Storm sewers and street
projects 13,367,1�3 4,884,800 18,251,943
Total Investments in General
Fixed Assets 26,670,085 6,631,924 0$ 33,302,009
Sources of Investments
General Indebtedness 600,�91 532,231 1,132,722
General Fund revenues (ineludes
ad valorem taxes) �+,672,158 461,178 5,133,336
Liquor store income 304,57� 304,571
Contributions 327,398 327,398
Special assessments 13,�85,679 13,185,679
Capital projects flinds:
G.O. bonds 3,129,798 3,129,798
Tax levies 265,243 2b5,2�43
Sale of assets 156,65�+ 156,65�+
Debt Service Funds excess 198,386 198,386
Capital Projects Fund
Balance 2,387,916 5,638,515 8,026,431
Federal grants 1,120,182 1,120,182
State grants 321,609 321,609
Total Sources of Investments $___b,631,92�4 $__33,302,009
(See notes to financial statements)
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I
City of Brooklyn Center H-2
i
SC�DULE OF GENERAL FIXED ASSETS BY FUNCTION AND ACTIVITY
December 31, 1986
Streets
and Storm
Funetion Total Land____ Buildings Equipment_ Sewers
General
goverrunent 23,881,653 1,427,531 �,202,179 18,251,9�3
General
government
buildings 5,587,524 5,587,524
Parks (includes
buildings) 3,832,832 3,832,832
8 -2� �4 202,179 18,251,9�+3
Totals 33,302,009 5,260,363 5,5 7,5
(See notes to finaneial statements)
-95-
City of Brooklyn Center H-3
SCI�DULE OF CHANGES IN GENERAL FIXED ASSETS BY FUNGTION AND ACTNITY
Year Ended December 31, 1986
Balance Balance
January 1, December 31,
1986 N Acquisitions Disposals ____1986_
General government 18,078,653 5,803,000 23,881,653
General government buildings 4,758,600 828,924 5,587,524
Parks (including buildings) 3,832,832 3 ,832,832
Totals _26,670,085 6,631,92� $___________0 $__33,302,009
����T�������
(See notes to financial statements)
-96-
City of Brooklyn Center, P�Iinnesota
GENERAL LONG-TERM DEBT ACCOUNT GROUP
1 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 a Special Assessment Fund or an Enterprise Fund
of the City.
City of Brooklyn Center I
COMPARATIVE SCI�DULE OF GENERAL LONG-TERM DEBT
December 31, 1986
With Comparative Totals for December 31, 1985
December 31,
__1986 N
Amounts Available and to be Provided
Amounts available in Debt Service Funds 1,779,960 1,559,�65
Amounts �o be provided:
From fLiture tax levies 6,�t48,133 6,883,b56
From f'uture gas tax allocations 300,000 360,000
Total Available and to be Provided` 8,528,093 $N $,803,12
General Long-Term Debt Payable
General Obli�ation Bonds 7,895,000 8,110,000
State Aid Street Bonds 300,000 360,000
Assessments on City property 20,500 55,2�►3
Sick and vacation accrua.ls 312,593 277,87$
Total General_Long-Term_Debt
(See notes to finaneial statements)
-97-
t
City of Brooklyn Center, Minnesota
1
SUPPLEMENTAL INFORMATION
The supplemental schedules present financial and other essential
information that has City-wide application or supports other financial
statements. These schedules are not necessarily a required part of
the report's financial section but are included as additional
information for analytical review.
r
r
City of Brooklyn Center S-6
SCHEDULE OF SOURCES AND USES OF PUBLIC FUNDS FOR TAX INCREMENT FINANCING
DISTRICT N0. 2100, BRUTGER HOUSING DEVELOPMENT
Inception to December 31 1986
Aecounted Actual Over
Original for in or Under(-)
Budget Prior Years 1986 Budget
Sources of Funds
Bond proceeds 913,700 913,7�0
Tax increments 1,575,700 118,891 239,198 -1,217,611
Interest on invested fl�nds 1�4 894 16 611 31 505
Real estate sales 39,�►29 39,�29
Total Sourees of Funds �2,528,829 M_ 1_086,91�4 255,809 N= 1,186_106
Uses of Funds
�Land acquisition 377,889 363,�+59 1�+,�30
Installation of public
utilities and improvements 316,600 336,255 19,655
Bond payments:
Prineipal 930,000 5,000 -925,000
Interest 661,888 129,675 73,938 458,275
Loan payments:
Interest �43,000 �41,150 -1,850
Administrative costs 75,640 58,799 -16,8�+1
Total Uses of Funds N_ 2,405,017 N___ 78_938 N _1,396,7�+1
Distriet Balanee or
Deficiency(-) 123,812 157,576 176,871 210,635
-98-
!I
City of Brooklyn Center S 7
SCHEDULE OF SOURCES AND USES OF PUBLIC FUNDS FOR TAX INCREMENT FINANCING
DISTRICT N0. 2401, EARLE BROWN FARM REDEVELOPMENT
Inception to December 31, 1986
Accounted Actual Over
Original for in or Under(-)
Budget Prior Years 1986 Budget
Sources of Funds
Bond proceeds 5,167,364 5,167,364
Tax increments 12,534,7�+4 182,962 -12,351,782
Interest on invested fl�nds 760,267 324,713 -435,55�
Real estate sales 650,000 529,600 -120,�00
Community Development
Block Grant 680,000 680,000 100,000 100,000
Assessments/MSA 1,300,000 -1,300,000
Total Sources of Funds 21,092,375 5,847,364 1,137,275 -14,107
Uses of Funds
Land building acquisition 2,920,000 2,189,415 937,175 206,590
Redevelopment 2,000,000 9,750 11,220 -1,979,030
Maintenance flind 500,000 2,960 16,652 -480,388
Installation of public
utilities and improvements 1,300,000 171,2�47 -1,128,753
Area wide streetscape
improvements 500,000 168,352 -331,648
Bond payments:
Principal 5,250,000 -�,250,000
Interest 5,561,9b5 27�,514 5,287,451
Administrative costs 309,000 179,137 �+9,613 -80,250 i
Contingeneies 501,900 -501,900
Total Uses of Funds 18,8�2,865 2,381,262 1,628,773 -14,832,830
District Balance or
Deficiency(-) 2,249,510 3,466,102 -491,498 725,094
i
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'I,� i
City of Brooklyn Center, Minnesota
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
coverages 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 financi.al statistics.
With the exception of Table 9(Computation of Direct and Overlapping
Debt) and information concerning school districts in the l�iiscellaneous
Statistical Facts section, all statistical information sources were
internal City records. The source of Table 9 information was the
Hennepin County Department of Finance. The sources of school district
information were the various school districts.
City of Brooklyn Center TABLE 1
GENERAL GOVERNMENTAL EXPENDITURES BY FUNCTION
Last Ten Fiscal Years
Comnunity
General Public Public Health Parks and Non- Transfers Total
Fiseal Year Government Safety Works Services Recreation Departmental Out Expenditures
1977 764,921 961,851 678,905 50,973 639,315 3,095,965
1978 868,776 1,151,480 733,615 66,423 795,116 3,615,410
1979 688,539 1�317,938 883,870 48,576 851,684 227,486 4,018,093
1980 839,307 1,442,619 1,103,166 37,336 917,224 241,256 490,000 5,070,908 I
0 198� 910,13� 1,588,149 1,176, 39�385 1,162,878 197,790 250,000 5,324,780
1982 1,007,781 1,901,839 1,213,941 36,244 1,122,299 247,755 5,529,859
1983 1,05�►,064 1,875,122 1,288,081 28,663 1,268,907 91,953 5,606,790
1984 1,112,173 1,985,108 1,383,039 30,437 �.319,298 337,624 6,167,679
1985 1,283,050 2,143,843 1,560,842 34,326 1,389,075 416,937 6,828,073
1986 1,487,876 2,288,062 1,5u9,584 45,294 1,�105,020 378,688 7,154,524
Funds included in this table are the General Fund.
City of Brooklyn Center TABLE 2
GELVERAL FUND F�VEMIES BY SOURCE (1)
Last Ten Fiscal Years
General Total
Property Licenses Intergovern- Charges far' Fines and
Fiscal Year Taxes and Permits mental Services Forfeitures Miscellaneous Transfers In Revenue
1977 1,528,244 �31,107 1,169,�+67 322,246 54,420 82,5u0 301,351 3,589�375
1978 1,650,79� 179,062 1,173,05� 360,488 68,281 92,638 574,080 4,098,39�►
1979 2,�31,443 186,46� 1,298,5�5 �+65,885 82,466 �35,889 650,527 �+,951,219 I
338 43�►�2u3 5,178,724
0 1980 2,188,218 195,931 1,496,924 451,688 111,382 300,
825 263
1981 1,655,6�+2 207,100 2,388,848 728,828 111,596 188,28� 5�u,965 5�
146,204 195,9�5 �+07,309 5,937,695
1982 1,935,403 249,��5 2,213.�86 790,333 I
1983 2,133,859 328,019 2,459,�33 859,928 154,812 244,433 489,111 6,669,295 I
198�+ 2,407,352 296,667 2,524,�+9�+ 919,T96 158,823 337,201 330,�52 6,974,785
1985 2,4�+4,153 387,806 2,618,957 979,543 187,045 348,316 311,926 7,277,746
1986 2,566,220 �11,406 2,866,4�2 965,527 224,753 318,�►53 341,�03 7,694,204
(1) Funds included in this table are the General Fund.
r �s r �■s �■i �■■r a
w■i i �■s r r r
City of Brooklyn Center TABLE 3
TAX LEVIES AND TAX COLLECTIONS
Last Ten Fiscal Years
Ratio of
Collections Percentage Colleetions Accumulated
of (�rrent Levy of Prior Ratio of Delinquent
Xear's Taxes Collected Year's Taxes Total Accumulated Taxes to
y� During Fiscal During Fiscal During Fiscal Total Colleetions Delinquent �rrent Year
Collected Tax Levy Period Period Period Colleetions of Tax Levy Taxes Tax Levy
1977 1,880,700 1,694�382 90.09 �98,250 1,892,632 1.0063:1 269,971 .14355:1
1978 2,060,012 1,995,621 96.87 163,T01 2,159,322 1.0482:1 170,662 .08285:1
1979 2,316,550 2,2T7,597 98•32 58,083 2,335,680 1.0083�1 146,042 .06304:1
N 1980 2,350,734 2,306,803 98•13 62,371 2,369,�74 1•OU78:1 �35,953 .05T83:�
198� 2,746,020 2,619,758 95.40 27,183 2,646,9�� •9639:� 235,032 •08559��
1982 2,965,702 ,2,854,688 96.26 45,419 2,900,107 .9779:1 300,627 .10137�1
1983 2,482,369 2,420,772 97•52 75,�37 2►496,209 1.0056:1 286,787 .11553:1
1984 2,836,968 2,721,413 95.93 1���59b 2,833,009 •9986:1 290,746 .10248:1
1985 2,931,266 2,657,094 90.65 178,709 2.835,803 •9674:1 386,209 .13176:1
1986 2,886,824 2,849,382 98.T0� 32,739 2,882,121 .9984:1 390,9�2 •�3541:1
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TAH.E 4
City of E�ookl,lm �.er'
A� VALt� AI�ID MARt�T VAi�JE CF' AtL TAXAEf.E P�Y
Iast 't� Fi.9oa1 Years
�918 1979 �980 �9�� 19� 1983 �9�+ �985 19e6 �987
P��xalaticn (Actuat) 3�►,110 �i,7� 32�950 31,2�D 3�,99D 30,83J 30,83� 3D,82� 3D,63D 3�,Zb7
�al Property
A.�.,.�1 valve:
city:
H�e.steed 67�b41,018 'T2�d75,�15 70,506�973 ���33�535 'TUr�8�43� 75.��d72 78�112.774 81,f1T2,128 9��912�5 91�929�
F�oo�s etz� m�teed 53�9T6�?�0 54r833��1 63 8�r�r96 1W,T15�9� 1�r3 124,3D5�853 1Z6,444,994 125�109�658 139r�33r999
Area�ride a1lr�tim (ret) 1,19�.
q83 —1,464,192 —�,832,19b —�,b80,8zT -2�357,63D —�,437.�+3 3,3bb,456 -2,�34,213 -2.09'7�533 —1�3k5,86�+
i '1��4Zf,225- 1�,504,050 132,280.080 161,UT9,669 '17b.b35,7l14 19b,183�916 199,052,171 �5,382,909 213,9�.673 23�,017,3$1
:�ss 'I�x Irxs�� D3strict 0 0 0 0 0 0 78,OOa 742,�1�► �+,057,611 5,�37,588
1bta1 ass�s�ed value '120,4ZI,225 125,504,050 132.29D.0� 161,Or19.669 176,625,7u4 19b,183►916 198�974,171 3�4,6U0,�1� �9►�7r0 22�1,579,793
�sti�tm r�r+aet va7,�e 38�,9�,9Y� 3�b,a,i,5.� �5 �+,63I,366 65r,7o�,7�r 7�,�rT6,oe9 'rl5,�b�,�+o0 78s 8i3,37'r,eoo 85�+,s4G,�o
Persa�al Propa'tY
0
�i' A.s�essed valiae 3,53f�911 4,3�3�3gf 3.816,766 4,�1,03b 4,113,767 3,973,58'7 4��48�726 4,ZT6,221 u,291�91b 4,296�001
E�tim3ted me�iaet value 8,2ZT 1�,371�900 8,876,a70 9�365,aD0 9�566�9� 9,�O,ODO 9.6�18,2�0 9�9��T0� 9�9�1,2�0 9,99�,'roD
Tbkal Ta�¢ble Pn�pa�l.y
'l23�96�,1� 129r893�4 �3b 165.10b�705 180,740�511 �0�157r503 2�3.122,8T( 2�6,916,656 21�+,158�978 22��815r794
Assess� �ralue
Estim�ted va]iae ��154,5� �1,019►�3z !��395,656 614,002,566 667.��657 734,716,089 784,810,600 798,052,500 8�i,359,000 864,837.�0
Ratio of A�.�� Value to
E�stimated N�1cet Value .31Tf33: .319133.1 .29561:1 .2G8�Os1 .ZT096:1 .2T2 .25882:1 .26178:1 .Z6010:1 .35�165:1
pe^ (�pita Vala.�atia�s
As�essed valne 3.634.78 3,�4.40 4,13D.41 5,28b.8D 5,832.22 6,�+92.3D 6�588.48 6,778.61 6,991.8D 7�5b1.� I
Estitmtej t�ricet value 11,43B.13 12 13,972.� 19,6G0.66 21,531.7�+ 23 �i,456.07 25,893.9� 26,880.80 ��573•b�
+w �r w w
i r■■� wi r i s� i�� r■■�
TASE 5
TAX AQ'lE5 AAID TAX IE,11�
Last Fi.5oa1 Years
TAX RA'� (N�LS) (2)
Sd�o�l Di.str'iat 'I�al atY► �Y, arrl State N.H.S.
Year Mea Voo-Ted1 13�. �i I�b. Z�'9 No. 281 [�b. 11 Special 7SD No. 296 15� No. 2l9 ISD No. 2B1 LS� No. 11
Collectible City (1) .,d�ool (Farl �i) (�eo) (F�bbir�sdale) (Anoka) Districts (Farl (Ossao) (R�bbir�l.e) (Arnka)
19'T8 16.646 2.123 53.531 52.434 49.690 55.840 35.086 107.392 106.289 103.545 107.512
1973 17.880 2.?27 �'T.�151 45.0?3 46.645 47.706 $.450 103•0� 100.63J 102.Z02 1o1.�3Ei
19� 17.2l15 1.681 �t2.96t 39•345 41.473 �+3.212 34.580 9b•487 92•a51 94.9'l9 95.03T
1981 t6.6o3 1.510 33.512 33.uZ1 40.757 37.996 33.373 84.998 84.913 92.2u3 87.972
198� 16.397 1.4b9 38.781 42.993 50.52� 46.847 33.567 90.214 94.� 101.95T 9b.811
1983 15.9'T1 1.119 42.896 46.0;�5 52.901 �l5.�+74 33.557 93.543 9b.682 103.548 95.002
1984 17.09b 1.446 49.9bF 54.909 58.3� �.�a �.00�! 103.514 108.�58 111.S15 1CIT.3�
19� 16.506 1.490 �.33z 51.199 56.100 52.8jD 3�I.443 101.771 103.636 108.539 103.7'T'9
1986 17.183 1.5� 52.54�i 54.�#5 59•�0 55.740 35.566 106.829 108.6Z9 113.73+� 108.489
1987 18.167 1.421 49.640 Y.783 56.932 54.97b �.315 104.543 110.68fi 111.8;� 108.408
�17Q�5 IF7JgD (D(II.ATS)
o
�Y Tbtal C�r. I,
Year Area Voc�Tech Ab. Z96 Ab. 279 No. 261 Nb. 11 Tckal �d �ecial Sdtio�]s, Oariy,
0�71ectible �ool (�rl ��n) (O�s9eo) (R�bbitsdale) (Arnka) �c3�oo�1 Di.str��f.ets City ar�i State l
1978 Zi1,486 1,853,�i 1,865,3�1 1,841,345 �9,060 6,680,617 4,345,b9� 2,0G0,012 13,�6,319
1979 a2,099 1,763, 1,711,981 1,8�5,864 Z94,944 6,328,345 4,603,009 2,316,684 13,2
1980 2[13,�+3 1,737,432 1,568,�191 i,650,314 1,5?2,661 6,682,141 4,711,671 2,�0,962 13,7�+4,77�
1981 237,6CR 1,939,916 1,636,931 2,058,145 766,9r12 6,639,577 5,9?5,084 2,947,717 15,512,318
19� Z65,508 2,422,618 2,061,005 2,G06,OD4 881,745 8,2�6,880 6,066,917 2,963.F� 17,�7,399
1983 202,?S6 2,790,8D8 2,G�,�( 2,?81,5T3 1,W9,119 9,��9b3 b,716,839 3,�3,27� 19,3b9,O16
1984 Z87,933 3,328.173 3,090,�9 3�178�504 1,279,696 t1,165,0�, 7.�5,08D 3,�52,694 21,TO2,8�9
19� 310,394 3,�►2,445 3,ow,'�W 3,187,821 1,286,533 �1,241,93T 7,277,150 3,460,339 21,9og,426
1986 327,794 3,776,253 3,194,tOt 3,�'16,104 1,329,1�T 12,103,359 7,593,315 3,665,749 23,362,�i
19$I 293,194 3,900,3� 3,409,3�i 3,726,934 ��3z1,348 12,657�187 8.088�560 4,i�,zo2 �+,880,9�9
(1) 7nc]iadas taoc levy fa� the F�usirg ar�l Aede�e]oFina�t Aut2�or'ity of �OOk1Yn C�r�te^ of a�a�hird mi].Z.
(2) Q�e mill rai.9es $1.00 in tax�s ftY° eac�i $1,000.00 of as.sassed vaLae.
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City of Brooklyn Center TABLE 6
SPECIAL ASSESSMENT CALLECTIONS
Last Ten Fiscal Years
Percent Total
�rrent Collections Total Outstanding
Collection Collections G�rrent and
Year
Percent of Prior Total to GUrrent Delinquent
Co1lecLed Total Levy Amount of Levy Years Collections Levy Assessments
1977 663,514 406,029 61.19� 233,678 639,707 96.41� 630,246
1978 607,046 407,224 67.08� 168,477 575,701 9�•�x 661,59�
1979 585,105 4b1,550 78.88% 439�371 900,921 153•98� 3u5,775
1980 655,1T5 572,104 87.32� 239,038 811,1�2 123.81� 189,808 i
1981 395,�39 335,859 84.93� 95,963 �+31,822 109.20� 153,�25 I
1982 733,198 649,472 88.58$ 95,962 745,43� 101.67� 141,189 'I
1g83 981,733 908,531 92•54� 57,�163 965,99� 98.4ox 156,928
198� 813,013 768,241 94.49� 79,617 8l►7,858 104.29� 122,083
1985 715,185 698,756 97•70� 84,781 783,537 109.56� 53,971
1986 631,296 631,165 99•98� 11,953 6�43,118 101.87$ �5,507
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City of Brooklyn Center TABLE 7
RATIO OF NET BONDED DEBT TO ASSESSED VALUE AND NET BONDED DEBT PER CAPITA
Last Ten Fiscal Years
Ratio of Net
Less: Amount Bonded Debt Net Bonded
Estimated Assessed Gross in Debt Net to Assessed Debt Per
Fiseal Year Population Value Bonded Debt Service Funds Bonded Debt Values Capita
19TT 3�,110 122,320,876 7,015,000 2,193,710 4,821,290 .03942:1 141.35
1978 33,700 123,965,136 6,215,000 2,652,259 3,562,7�+1 .02873:1 105-72
�979 32,950 129,893,447 5,475,000 3,138,481 2,336,519 .01799:1 70.91
�980 31,230 136,096,846 6,265,000 2,519,067 3,T�5,933 .02752:1 119•95
�981 30,990 165,106,705 5,650,000 3,031,39$ 2,618,602 .01586:1 84.50
1982 30,820 180,740,511 7,680,000 4,145,073 3,534,927 .01956:1 114.70
1983 30,830 200,157,503 7,985,000 4,849,112 3,135,888 .01567:1 101.72
19�► 30,820 203,122,897 7,040,000 3,348,669 3,691,331 .01817:1 119.77
�985 30,630 208,916,656 11,550,000 4,871,780 6,678,220 .03797:1 218.03
1986 30,267 214,158,g78 10,905,000 5,457,898 5,447,102 .02544:1 179-97
City of Brooklyn Center Table 8
STATEMENT OF LEGAL DEBT MARGIN
December 31, 1986
Assessed value, January 1, 1986 $_228,875�7��+
Debt limit, 7.33� of assessed value (See Note A) 16,776,59b
Total bonded debt 10,905,000
Deductions (See Note 1B):
A. Bonds:
1. Special Assessment
Bonds 2, �4u0 000
2. State Aid Street Bonds 300,000
3. Utility Revenue Bonds 270,000
4. Tax Increment Bonds 6,175,000
M 9,185,000
B. General Debt Service Fund 650,931 9,835,931
Total Debt Applicable to Debt Limit 1,069,069
Le�al Debt Margin, December 31, 1986 15,707,527
Note: (A) M.S.A. Section �75•53 (See following page)
Note: (B) M.S.A. Section 475.51 (See following page)
-107-
City of Brooklyn Center Table 8
STATEMENT OF LEGAL DEBT MARGIN
December 31, 1986
Co
ntinued
Note (A): M.S.A. Section 475•53 et seq. Limit on Net Debt:
"Subdivision 1. Generally, except as otherwise provided in sections
�75.51, no municipality, except a school district or a city of the
first class, shall incur or be subject to a net debt in excess of
7•33 per cent of the assessed value."
Note (B): M.S.A. Section 475.51 Definitions:
Subdivision 4. Net Debt means the amount remaining after deducting
from its gross debt the amount of current revenues which are
applicable within the aggregate of the principal of the following:
(1) Obligations issued for improvements whieh are payable wholly or
partly from the proceeds of special assessments levied upon property
specially benefited thereby, including those which are general
obligations of the municipality issuing them, if the municipality is
entitled to reimbursements in whole or in part from the proceeds of
the special assessments.
(2) Warrants or orders ha.ving no definite or fixed maturity.
(3) Obligations payable wholly from the income from revenue-
producing conveniences.
(4) Obligations to create or maintain a permanent improvement
revolving fund.
�5) Obligations issued for the acquisition, and betterment of public
water-works systems, and publie lighting, heating or power systems,
and of any combination thereof or for any other public convenience
from which a revenue is or may be derived.
(6) Amount of all money and the face value of all securities held as
a sinking fund for the extinguishment of obligations other than those
deductible under this subdivision.
(7) All other obligations which under the provisions of the statute
I authorizing their issuance are not to be included in computing the
1 net debt of the municipality.
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City of Brooklyn Center TABLE 9
COt�UTATION OF DIRECf AND OVERLAPPING DEBT
December 31, 1986
City of Brooklyn Center Share
Governmental Unit Gross Debt Sinking Funds Net Debt Per Cent Amount
Direct and Overlapping Debt
Direct Debt:
City of Brooklyn Center (1) 10,9�5,000 5,457,898 5,447,102 100.0$ 5,447,102
Overlapping Debt:
School Districts:
No. 281 (Robbinsdale) 9,8b0,000 2,309,744 7,550,256 10.2� 770,126
No. 11 (Anoka) 26,535,000 1,977,316 24,557,684 5.9� 1,448,903
No. 279 (Osseo) 24,215,000 2,238,366 21,97b,634 26•8� 5,889�738
No. 286 (Brooklyn Center) �120,000 69�558 350,4�42 100.0$ 350,4u2
Area vocational Technical School No. 287 7,200,000 1,881,63� 5,318,366 4.9� 260,600
Metropolitan Transit 2�4,250,000 4,904,000 19,346,000 1.5'� 290,190
Metropolitan Council (2) 31,110,000 21,782,264 9,327,736 1.5� �39,916
Metropolitan Airport (3) 0 0 0 0.0$ 0
Hennepin County 30,175,000 10,778,423 19,39b,577 2•7� 523,708 I
Hennepin County Park Reserve District 0 0 0 2•7�
Total Overlapping Debt 153,765,000 45,9�+1,305 107,823,695 9,673,623
Total Direct and Overlapping Debt 164,670,000 51,399,203 113,270,797 15,120,725
I
(1) Includes $2,440,000 debt outstanding to be paid from special assessments, $300,000 debt outstanding on State Aid Street
bonds, $270,000 debt outstanding on revenue bonds, and $6,175,000 debt outstanding on Tax Increment bonds.
(2) Excludes $214,085,000 (less $38 in sinking flinds) of the Metropolitan Council issued G.O. seWer bonds. These
sewer bonds are supported from sewer charges to government units (including Brooklyn Center) within the �tropolitan
sewer syste.m.
(3) Excludes $�33 ,655,000 (less $31,362,098 in sinking flinds) of G.O. Airport bonds supported from airport user fees and
rentals.
Overlapping
Comparative Net Debt Ratios Chargeable to City Total Direct Debt Debt
Debt to assessed value 228,875,794) 6.61� 2.38� u•23�
Debt to market value 864,837,250) 1.75� 0.63% �.12p
Per capita debt, population 30,267) �t99•58 179•97 319•61
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City of Brooklyn Center TABLE 10
RATIO OF ANNUAL DEBT SERVICE EXPENDITURFS FOR GENERAL
BONDED DEBT TO TOTAL GENERAL EXPENDITURES
Last Ten Fiseal Years
Ratio of
Total Debt Service
Total General to General
Year Principal Interest Debt Service Expenditures* Expenditures
1977 215,000 173,130 388,130 3,239,892 11•98�
1978 220,000 160,180 380,180 4,1�t6,063 9.17�
1979 210,000 1�+6,905 356,905 5,267,380 6.78�
1980 195,000 13�,211 329,211 7,931,555 4.15�
226 8 �11 8 6� 2 4 6.38
1981 185,000 7 5 ,7 5 57, 7 9�
1982 195,000 22�4,100 419,100 7,188,860 5.83�
1983 240,000 210,620 �450,620 7,509,298 6.00�
1984 255,000 250,132 505,132 7,627,690 6.62�
1985 255,000 251,095 506,095 7,3�2,322 6.91�
86 000 50 558 782 558 10 159 b92 7•70�
19 275, 7,
Ineludes General, Special Revenue, Debt Service and Capital Pro�ects Funds.
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City of Brooklyn Center TABLE 11
SCHEDULE OF REVENUE BOND CAVERAGE
Last Ten Fiseal Years
Ratio of
Net
Net Revenue
Gross (1) Revenue to Debt
Year Expenses Available Principal Interest Total Service
1977 1,1�+5,563 761�,5�2 384,021 35,000 25,740 60,7�0 6.322:1
1978 1,37�,519 $17,15�+ 554,365 35,000 24,375 59,375 9•337:1
1979 1,572,2�4�4 824,417 7�7,827 35,000 23,010 58,010 12.891:1
1980 1,950,3�0 952,850 997,�+90 35,000 21,645 56,6�5 17.609:1
1981 2�272�211 1,189,203 1�083�008 �40�000 20�280 60�280 17
1982 2,242,053 1,565,291 676,762 40,000 18,720 58,720 11.525:1
1983 2,195,913 1,�65,713 730,200 �40,000 17,160 57,160 12.775:1
198�► 2,386,97�+ 1,550,216 836,758 �0,000 15,600 55,600 15.050:1
1985 2,�35,238 1,5�9,6�+5 885,593 �I5,000 1�,0�0 59,0�40 15.000:1
1986 2,316,�+56 1,613,187 703,269 45,000 12,399 57,399 12.252:1
ti n and interest on bonds.
(1) Excludes deprecia o
r
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Cit of Brookl
n Center TABLE 12
Y Y
PROPERTY VALUE AND CONSTRUCTION
I Last Ten Fiscal Years
Commercial
Construction Residential Construction Property Value�
Year Value Units Value Co�ercial Residential Non-Taxable
1 1977 3,58�4,198 80 2,179,300 125,012,840 256,91�+,115 50,386,615
1978 5,247,131 239 6,816,300 140,651,752 285,�+36,500 50,386,615
1979 8,2�9,39�+ 76 3,392,700 161,917,9�5 330,196,500 50,386,615
1980 12,5��+,300 �3 3,061,000 215,536,256 392,096,600 52,828,09�
1981 12,926,950 33 1,157,000 228,523,271 483,35�,800 52,828,091
1982 2,497,700 70 2,055,000 235,045,b89 �90,�430,400 52,828,09�
1983 5,3�+2,000 1�+0 8,677,800 268,460,800 506,701,600 52,828,Og1
198�► 6,037,900 77 8,954,300 201,274,889 586,929,400 62,287,088
1985 29,553,108 14 827,700 199,$$2,500 613,b9�+,000 64,906,83$
1986 14,689,661 157 9,737,806 2�6,78�,100 608,890,900 92,38�,868
t alue
Estimated marke v
-112-
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City of Brooklyn Center TABLE 13
PRINCIPAL TAXPAYERS
December 31, 1986
Percentage
1986 of total
Market Market
Taxpayers Type of Business Valuation Value
Equitable Life Assurance
Society of America Brookdale Shoppin� Center 32,184,900 3•77�
Norman Chazin Apartment Buildings 11,89�,900 1 .39�
Robert H. Bradley Office and Warehouse Building 11,818,900 1.38�
Prudential Insurance Company Land and Office Building
of America 10,569,�00 1.23�
Shingle Creek Plaza II Land, Warehouse and Office
Buildings 8,656,900 1.01�
Twin Lake North Company Apartments 8,15�,900 0.95�
Commercial Partners Brookdale Square Shopping
Center 7,988,200 0.93�
state Funds Office Buildi s 7 980,000 0 .93�
Ci na Rea.l E ng
Ltd. Partnership
�4 400 0.87�
rs De artment Store 7 59
Sea.rs Roebeck and Company Sea p
Normandale Tennis Club Health Club 5,�69,�00 0.64�
Total Market Value 112,176,900 13.1�
I
-113-
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City of Brooklyn Center TABLE 14
SUNMARY OF DEBT SERVICE REWIREP9ENTS TO MATURITY
December 31, 1986
G.O. Special G.O. State-Aid
General Obligation Bonds Assessment Bonds Street Bonds Water Revenue Bonds Debt Service Requirement
Year Principal Interest Principal Interest Principal Interest Principal Interest Principal Interest
1987 275,000 604,064 315,000 189,795 60,000 18,165 �5,000 10,530 695,000 822,55�1
1988 300,000 584,208 300,000 168,620 60,000 14,160 �5,000. 8,775 705,000 775,763
1989 325,000 562,558 280,000 1�47,480 60,000 10,125 45,000 7,020 710,000 727,183
�99� 2�+5,000 537,938 260,000 126,980 60,000 6,075 �5,000 5,265 610,000 676,258
199� �+15,000 514,070 260,000 107,070 60,000 2,025 �5,000 3,5�0 780,000 626,675
1992 500,000 u80,298 200,000 88,150 �15,000 1,755 745,000 570,203
1993 550,000 4u1,063 175,000 71,387 725,000 512,450
1994 285,000 409,686 175,000 55,200 460,000 464,886
1945 340,000 385,958 175,000 38,488 .515,000 424,446
1996 420,000 356,416 150,000 22,500 570,000 378,91b
1997 u20,000 323,325 150,000 7,500 570,000 330,825
1998 �130,000 289,780 �130,000 289�780
1999 510,000 252,395 510,000 252,395 i
2000 595,000 208,195 595,000 208,195
200� 690,000 156,795 690,000 156,795
2002 795,000 96,997 795,000 96,997
2003 800,000 32,�+00 800,000 32,400
$�7,895,000 6,236,146 2,440,000 1,023,1T0 300,000 50,550 270,000 36,855 7,3�+6,721
City of Brooklyn Center Table 15
SCHEDULE OF INSURANCE COVERAGE
December 31, 1986
Policy Period
Type of Coverage and Details From N_-- To Liability Limits
I. Statutory Liability to FSnployees
a. Workers' Compensation 01-01-87 01-01-88 Statutory
(participant in the League
of Minnesota Cities Insurance
Trust Self-Insured Workers'
Compensation Program)
II. Liability to the Publie
a. General liability,
comprehensive 01-01-87 01-01-88
(1) Bodily injury $600,000 combined single
limit
(2) Property dama�e $600,000 combined single
limit
�3) Personal injury $600,000 combined single
limit
b. Automobile liability,
comprehensive 01-01-87 01-01-88
(1) Bodily injury $600,000 occurrence
(2) Property damage $600,000 occurrence
(3) Uninsured motorist $600,000 oecurrence
c. Liquor stores' dram shop 01-01-87 01-Q1-88 $500,000 each common cause
III. Loss of Income on City Enterprises
a. Liquor stores 01-01-87 01-01-88 $450,000
b. Public utilities 01-01-87 01-01-88 $450,000
-115-
City of Brooklyn Center Table 15
SCHEDULE OF INSURANCE COVERAGE
December 31, 198b (Continued from prior page)
Buildings
and
Policy Period Structures Content:
(Replacement (Actual
Type of Coverage and Details From To Cost) Cash Value)
IV. Insurance on City Property 01-01-87 01-01-88
a. Public and institutional
property, all risk, blanket
$14,715,900; $1,000 deductible,
replacement value on buildings,
except stated value on Earle
Brown Farm buildings
(1) Civic Center $4,683,000 468,000
(2) East Fire Station 504,000 56,000
(3) Municipal Service Garage $1,142,000 220,000
(4) Elevated Water Towers 3 locations $2,611,000 0
(5) Park Shelter Buildings 17 locations $1,270,000 51,000
(6) Pump Houses 7 locations 440,000 120,000
(7) Lift Stations 9 locations 305,000 68,000
(8) Meter Station 14,000 0
(9) Storage Building 242,000 0
(10) Outdoor lighting syst�ns 7 locations 285,000 0
(11) Liquor Store and Fire Station 477,000 201,000
(12) Humboldt Liquor Store 210,000 163,000
(13) Leased Liquor Store 0 205,000
(1�4) Movable Properties 0 154,97�
(15) Pedestrian Bridge 431,000 0
(16) Picnic Shelter 48,000 0
(17) Earle Brown Farm Buildings 501,900 0
Liability Limits
b. Boiler and machinery 02-01-87 01-01-88 $3,000,000 per aecident
c. Automotive physical damage 01-01-87 01-01-88
(1) Comprehensive ACV $250 deductible
(2) Collision ACV $500 deductible
V. Crimina.l Acts
a. Faithful performance blanket position $100,000 per loss
b. Money and securities (broad form) Various
c. Depositor's forgery $100,000
The comprehensive general liability includes the following additional coverages:
(a) All employees as additional insureds
(b) Personal injury coverage to include false arrest, libel, slander, wrongful
entry or evietion or invasion of right of privacy.
(c) Broad contraetual liability
(d) Products liability
(e) Public Officials' liability
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City of Brooklyn Center TABLE 16
SCI�DULE OF CASH AND TEMPORARY CASH INVESTMENTS
December 31, 1986
Cash in Banks:
First Brookdale State Bank
Brooklyn Center, Minnesota 182,934
First Nationa.l Bank of Minneapolis,
Minneapolis, Minnesota �,173
Temporary Investments:
Interest
Type Rate Maturity Cost
Bankers' Acceptanee 5.92 �987 1,000,000
Comarercial Paper 7.14-7.6� 1987 920,000
Repurchase Agreement 7.50 1987 2,000,000
U.S. Treasury bills 5.49 1987 585,000
U.S. Treasury notes 6.22 1987 6,040,000
Federal Land Bank bonds 7. 1987 1,000,000
Federal Home Loan Bank bonds 6.55-13.03 1987- 6,3�5,000
Federal National Mortgage
Association bonds 6.25-13.65 1987-1992 7,065,000
Federal Farm Credit Bank bonds 9.45-13•20 1987-1988 1,800,000 26,725,000
Interfund borrowings -(tanporary improvement notes) 896,023
Accrued interest on investments 52�,088
Change funds �,935
Total Cash and T�nporary Cash Investments
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City of Brooklyn Center
MISCELLANEOUS STATISTICAL FACtS
December 31, 1986
M
Da.te of Incorporation February 14, 1911
Date of Adoption of City Charter November 8, 1966
Date City (�arter Effective December 8, 1966
Form of Government Council-Manager
Fiscal Years Begins January 1
Area of City 8 1/2 square miles
Miles of Streets:
City 83.05
County 24.50
Sta.te 12.65
Miles of Storm Sewers 39•06
1 Number of Street Lights 949
Building Permits:
Number of Permits Issued:
1986 60�+
1985 521
198�+ 5�5
1983 bb0
1982 516
1981 518
1980 563
1979 606
1978 818
1977 566
Estimated Cost:
1986 28,59�,810
1985 32,328,938
198�+ 15 606 35�+
1983 16,096,550
1982 5,968,824
1981 16,190,205
1980 17,45�+,690
1979 13,081,520
1 1978 13,081,520
1977 13,578,901
Fire Protection:
Number of Stations 2
Number of Volunteer Firemen 3�
Police Protection:
Number of Stations
Number of Full-time Eanployees 40
Number of Part-time Employees g
Police Department Vehicles 16
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City of Brooklyn Center
MISCELLANEOUS STATISTICAL FACTS
December 31, 1986
Parks and Recreation: N
Park property totals 522 acres developed to serve a wide variety of reereational
interests. Areas include playlots, playgrounds, playfields, trails, nature areas
and an arboretum.
Full-time employees 13
Part-time employees (seasonal) 250
Playgrounds �7
Park shelters �7
Ice skating rinks 10
Hockey rinks 6
Softball diamonds 29
Baseball diamonds 5
Tennis courts 16
Basketball courts �7
Municipal Water Plant:
Number of connections 8,787
Average daily consumption 3,600,066 gallons
Peak daily consumption 10,608,000 gallons
Plant capacity daily 16,500,000 gallons
Miles of water mains 111.14 miles
Number of fire hydrants 816
Number of wells 9
Number of elevated reservoirs 3
Storage capacity 3,000,000 gallons
Water rate per thousand 35 cents
Municipal Sewer Plant:
Number of connections 8,791
Miles of sanitary sewer 10�4.04
Daily disposal ca.pacity 7,646,400 gallons
Number of lift stations 10
Residential rate $21.25 per quarter
Municipal Liquor Stores (Off-Sale):
Number of owned stores 2
Number of leased stores
1986 sales 2,465,749
City �nployees:
As of December 31, 1986
Permanent or regular 126
Temporary or part-time 188
Total 31 �4
Elections:
Last General Election November �4, 1986
Registered voters 19,480
Votes cast 10,09�
Percentage of registered voters voting 51.8�
Last Municipal Election 1986
Registered voters 19,480
Votes cast 10,09�1
I Percentage of registered'voters voting 51.8�
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City of Brooklyn Center
MISCELLANEOUS STATISTICAL FACTS
December 31, 1986
Population:
,94� ,,87�
1950 �,28�
1960 24,356
19b5 (special census) 30,108
1980 31,230
1981 (per official estimates) 30,990
1982 (per official estimates) 30,820
1983 (per official estimates) 30,830
198�+ (per official estimates) 30,820
1985 (per official estimates) 30,630
1986 (per official estimates) 30,267
Edueation:
I Public Schools
Sehool districts within Brooklyn Center (4).
No. 11 No. 286 No. 281 No. 279
M___ (Anoka) (Earle Brown) (Robbinsdale) (Osseo)
Total sehool buildings 35 2 22 2�
School buildings within
Brooklyn Center 1 2 1 3
Total students registered 31,530 1, 14,065 17,650
Students from Brooklyn
Center registered 1,011 1,361 555 1,838
Total square miles in
school district 172 2.8 30 66.5
Square miles within
Brooklyn Center 1.5 2.8 2.25 2•5
1986 assessed valuation 782,113,675 83,583,938 781,93�►,251 556,261,515
1986 assessed valuation
in Brooklyn Center 19,�+63,919 80,628,973 b�►,585,894 55,555,724
Parochial schools (1)
I St. Alphonsus School grades 4 through 8- Total students registered: 302
Assessed valuation prior to fiscal disparies and tax increment calculations
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