HomeMy WebLinkAboutAnnual Audited Financial Report-1980 ANNUAI
AUDiTED FINANCIAL REPORT
of the
CITY MANAGER
of
BROOKIYN CENTER, MINNESOTA
For The Year Ended December 31, 1880
GERALD G. SPLINTER CITY MANAGER
Prepared by
THE DEPARTMENT OF FINANCE
Paul W. Holmlund, Director
(Member of Municipal Finance Office�s
Association of the United States and Canada)
I
Of B rookl n en
Crty y C ter
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDED DECEMBER 31, 1980
Exhibit
Schedule Page
Number Number
Introductory Section
Title Page
Table of Contents
Listing of City Officials 1- 2
Organization Chart 3
Location Map of City Properties 4
City b7anager's Letter 5- 6
Finance �irector's Letter 7 15
Certificate of Conformance in Financial �Reporting 16
Financial Section
Auditor's Opinion 17
Combined Statements Overview:
Combined Balance Sheet All Fund Types
and Account Groups 1 18
Combined Statement of Revenues, Expenditures
and Changes in Fund Balances A11 Governmental
Fund Types 2 19
Combined Statements of ftevenues, Expenditures
and Changes in Fund Balances Actual
(GAAP Basis) Budgetary Basis and Budget-
General Fund 3 20
Combined Statement of ftevenues, Expenses and
Changes in Retained Earnings/Fund Balances
All Proprietary Fund Types and Nonexpendable
Trust 4 21
Combined Statement of Changes in Financial
Position All Proprietary Fund Types 5 22
Notes to Financial Statements 23 37
Finaneial Statements of Individual Funds:
General Fund:
Comparative Balance Sheet 6 38
Statement of Revenues, Expenditures and
Changes in Fund Balance Actual (GAAP
Basis) and Comparison of Budgetary Basis
to Budget (Non-GAAP) 7 39
Statement of Revenues Compared to Bud et 8 40 41
g
Statement of Budgetary Basis Expenditures
and Budget 9 42
MOEN 8 PENTTILA, LTD.
C ity Of B rooklyn C enter
CONiPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDED DECEMBER, 31, 1980
i
E xhib it
Schedule Page
Number Number
Financial Statements of Individual Funds (cont'd)
Special Revenue Funds:
Combining Balance Sheet 10 43
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances 11 44
Debt Service Funds:
Combining Balance Sheet 12 45
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances 13 46
Capital Projects Funds:
Combining Balance Sheet 14 47
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances 15 48
Project-Length Schedule of Construction Projects-
Capital Projects Fund S-1 49
Project-Length Schedule of Construction Projects-
Municipal State Aid Construction Fund S-2 50
Special Assessment Funds:
Combining Balance Sheet 16 51 52
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances 17 53
Project-Length Schedule of Construction Projects-
All Special Assessment Funds S-3 54
Construction Fund Revenue and Expenditures S-4 55
Enterprise Funds:
Combining Balance Sheet 18 56
Combining Statement of Operations and
Retained Earnings 19 57
Statement of Operating Expenses-
Municipal Liquor Fund 20 58
Statement of Water Operating Expenses 21 59
Statement of Sewer Operating Expenses 22 60
Combining Statement of Changes in Financial
Position 23 61
MOEN 8 PENTTILA, LTD.
C ity Of B rooklyn C enter
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDED DECEMBER 31, 1980
i
Exhibit
Schedule Page
Number Number
Financial Statements of Individual Funds (cont'd)
Fiduciary �'unds:
Combining Balance Sheet 24 62
Combining Statement of Revenues, Expenses
and Changes in Fund Balances 25 63
Statement of General Fixed Assets By Sources 26 64
Comparative Statement of General Long-Term Debt 27 65
�tatistical Section
General Governmental Expenditures By Function Table 1 66
Revenue Other Than Special Assessments Table 2 67
Tax Levies and Tax Collections Table 3 68
Assessed Va1ue and Market Value Of All
Taxable Property Table 4 69
Tax Rates and Tax Levies Table 5 70
Special Assessment Collections Table 6 71
Ratio of Net Bonded Debt to Assessed Value and
Net Bonded Debt Per Capita Table 7 72
Statement of Legal Debt iViargin Table 8 73 74
Computation of Direct and Overlapping Debt Table 9 75
Ratio of Annual Debt Service Expenditures for
General Bonded Debt to Total General
Expenditures Table 10 76
Schedule of Revenue Bond Coverage Table 11 77
Property Value and Construction Table 12 78
Principal Taxpayers Table 13 79
Summary of Debt Service Requirements to
1�laturity Table 14 80
1 Miscellaneous Statistical Facts 81 83
1
MOEN PENTTILA, LTD.
City of Brookl�n Center
LISTING OF CITY OFFICIALS
For the Year Er�ded December 31, 1980
ELECTED OFFICIALS
Term of Office Term Expires
Mayor Dean Nyquist Two Years 12-31-81
Councilman Bill Fignar Three Years 12-31-81
Councilman Tony Keufler Three Years 12-31-81
Councilman Gene Lhotka Three Years 12-31-82
Councilwoman Cecilia Scott Three Years 12-31-83
OFFICIALS NOT ELECTED
City Manager Gerald G. Splinter
City Clerk Allen S. Lindman
City Treasuer Paul W. Holmlund
City Attorney Richard Schieffer
Administrative Assistant Thomas Bublitz
Administrative Assistant Brad Hoffman
Department Heads:
Finance Paul W Holmlund
Public Works Sy Knapp
Police James Lindsay
Fire Ronald Boman
Planning and Inspecition Ronald Warren
Park and Recreation Eugene Hagel
Assessment Peter Koole
Liquor Stores Truman Nelson
Assistant City Engineer James Grube
Street and Park Superintendent Henry Davis
Public Utilities Superintendent Frank Smith, Jr.
Recreation Superintendent Arnold Mavis
Health Officer Duane Orn M.D
Fire Marshall Gerald Pedlar
Sanitarian Thomas Heenan
Civil Defen�e Coordinator James Lindsay
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MOEN PENTTILA, LTD.
City of Brookl�n Center
LISTING OF CITY OFFICIALS
At May 31, 1981
ELECTED OFFICIALS
Term of Office Term Expires
Mayor Dean Nyquist Two Years 12-31-81
Councilman Tony Kuefler Three Years 12-31-81
Councilman Bill Fignar Three Years 12-31-81
Councilman Gene Lhotka Three Years 12-31-82
Councilwoman Cecilia Scott Three Years 12-31-83
OFFICIALS NOT ELECTED
City Manager Gerald G. Splinter
City Clerk Allen S. Lindman
City Treasurer Paul W. Holmlund
City Attorney Richard Schieffer
Administrative Assistant Thomas Bublitz
Administrative Assistant Brad Hoffman
Department Heads:
Finance Paul W Holmlund
Public Works Sy Knapp
Police James Lindsay
Fire Ronald B oman
Planning and Inspection Ronald Warren
Parks and Recreation Eugene Hagel
Assessment Peter Koole
Liquor Stores Truman Nelson
Assistant City Engineer James Grube
Street and Park Superintendent Henry Davis
Public Utilities Superintendent Frank Smith, Jr.
Recreation Superintendent Arnold Mavis
Health Officer Duane Orn M. D.
Fire Marshall Gerald Pedlar
Sanitarian Thomas Heenan
Civil Defense Coordinator James Lindsay
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MOEN 8 PENTTILA, LTD.
ORGANI ZATION C�-U1RT
COUNCIL MANAGER PLAN
City of Brooklyn Center, Minnesota
ADVISORY ELECTORATE CHARTER COMMISSION
Capital Improvement Review Bd.
ADVISORY
Youth Ad��isory Commission
ADVISORY CITY COUNCIL
Housing Commission
ADVISORY CITY ATTORNEY
i'
Conservation Commission
ADVISORY City Manager Administrative Assistant
City Clerk
Hw�,an Rights Commi ssion
Purchasing Officer
ADVI SORY
Parks and Recreation Commission
=s
Administrative .�lssistants
ADVISORY
r
Planning Commission
Civil
Defense
I
I
k I t 1 I I
DIRECTOR DIRECTOR CHIEF DIRECTOR DIRECTOR CHIEF MANAGER DIRECTOR ASSESSOR
Planning Finance Police of Parks and Volunteer Liquor Public Tax
and Department Department Environmental Recreation Fire Store Works Assessmen�
Inspection City Health Department Department Department Department
Depart��ent Treasurer Department City
Enc�ineer
G�vernment
Buildinqs
t
Engineering Street Public
Division Division Utilities_
City of Brookiyn Center
Location of City Properties Dece�ber 31, 1980
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e Park S,ystem Key
1. Willow Lane Park
2. Orchard Lane Park
f 6 C:' 3��
f N 3. Kylawn Park
T= 4. Lakeside Park
�;T�=-� 5. Brooklane Park
6. Wangstad Park
-i 7 N orthport Park
8. Happy Hollow
City General Properties g, Paimer Lake Park
A. Vacant 10. Garden City Park
B. Water Tower 11. Proposed Park
C. West Fire Station Liquor Store #2 12. Lions Park
D. Library (Land Only-County Library) 13. Grandview Park
E. Liquor Store #3 (located on leased 14. Evergreen Park
property}(Northport Shopping Center) 15. Bellvue Park
F. Vacant 16. Marlin Park
G. Vacant 17. Firehouse Park
H. Well 18 Riverdale Park
I. Garage 2 wells 1 water tank 19. Freeway Park
J. Liquor Store #1 20. River Ridge Park (Miss. River)
K. Community Center Central Park State Owned)
L. Municipal Service Garage 21. Twin Lake Beach Park
NI. East Fire Station -4- (City State Owned)
CITY
OF 6301 SHING�E CREEK PARKWAY
B ROO�LYN BROOKLYN CENTER, MINNESOTA 55430
TELEPHONE 561-5440
N T ER EMEAGENCY-POLICE-FIRE
561-5720
June 17, 1981
HONORABLE MRYOR 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 Annual Audited Financial Report of the City of Brooklyn
Center as of December 31, 1980 and for the fiscal year then ended. Respon-
sibility for both the accuracy of the presented data and the completeness
and fairness of the presentation, includinq 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 desiqned to fairly s.et
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 understand-
inq of the City's f.inancial affairs have been included.
In developing and evaluating the City's accounting system, consideration is
qiven to the adequacy of internal accounting controls. Internal accountinq
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 prop�r recording of financial transactions.
This report has been prepared followinq the _quidelines recommended by the
Municipal Finance O£ficers Association of the United States and Canada.
The Municinal Finance Officers Association awards Certificates of Conformance
to those qovernments whose Annual Financial Reports are judged to conform sub-
stantially with high standards of public .financial reporting, including
qenerally accepted accountinq principles promulqated by the National Council
on Governmental Rccountin_q. The City of Brooklyn Center was awarded a
Certificate of Conformance for its Annual Financial Report for fiscal year
1979. It is my belief that the accompanying fiscal year 1980 Financial Report
continues to meet proqram standards and it will be submitted to the Municipal
Finance Officers Association for review.
Tn accordance with the above mentioned guidelines, the accompanying report
consists of three barts: (1) Introductory Section, including the finance
director's letter of transmittal; (2) Financial Section, includinq the
financial statements and supplemental data of the government accompanied by
our inde auditor's opinion; (3) Statistical Section, includinq a
number of tables of unaudited data depictinq the financial history of the
aovernment for the past ten years, inforn►ation on overlapping qovernments,
and other miscellaneous inf_ormation.
5_
So.�etlucg 7'1Z�c
HOPdORABLE MAYOR MEMBERS OF CITY COUNCIL -2- June 17, 1981
State 1aw 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 inclu�ed in the financial section of this report.
Re u s mitted,
�Gerald plinter
City Mana
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CITY
p� 6301 SHINGLE CREEK PARKWAY
B ROO� LY N BROOKLYN CENTER, MINNESOTA 55430
TELEPHONE 561-5440
C E N T ER EMERGENCY-POLICE-FIRE
561-5720
June 15, 1981
Mr. Gerald G. Splinter
City Manager
City of Brooklyn Center
Dear Mr. Splinter:
The Comprehensive Annual Audited Financial Report of the City of Brooklyn
Center, Minnesota for the year ended December 31, 1980 is submitted here-
with. I believe 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.
THE REPORT
The organization, fonr� and content of this report has been prepared using
standards prescribed by the Municipal Finance Officers' Association of the
United States and Canada, the National Council on Governmental Accounting,
the American Institute of Certified Public Accountants, the Minnesota State
Auditor, and the Brooklyn Center City Charter.
ORGANIZATION
Brooklyn Center was incorporated as a Village on February 14, 1911, and
became a City of the second class on December 8, 1966, thirty days from
the adoption of the City Charter by a referendum vote of the people.
The form of government established by the Charter is the "Council Manager
Plan." The Council exercises the legislative power of the City and determines
all matters of policy. The Council is composed of a Mayor and four Council-
persons who are elected at large. Each Councilperson serves a term of three
years and the Mayor serves a term of two years. The City Manager is the
head of the Administrative branch of the City Government and is responsible
to the Council for the proper administration of all affairs relating to the
City. The City Manager is the chief accounting officer of the City and must
provide such information about the City as the Council may require. 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
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so.,�� m
Mr. Splinter -2- June 15, 1981
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 the 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 �oncept of reasonable assurance recognizes that: (1) the cost of a
control should not exceed the benefits likely to be derived; and (2) the
evaluation of costs and benefits requires estimates and judgments by
management.
All internal control evaluations occur within the above framework. I
believe that the City's internal accounting controls adequately safeguard
f fi ia
assets and rovide reasonable assurance of proper recording o nanc 1
P
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
are centralized under the Department of Finance. The responsibility for
maintaining and prescribing all financial records, establishing and main-
taining internal control, and preparing financial and budgetary reports is
delegated to this department.
The Cit Charter rants the Cit Council full authorit over the financial
Y 9 Y Y
affairs of the City. The Charter requires that all funds of the City,
except funds made up of proceeds of bond issues, public service enter-
prise funds, and special assessment funds, be budgeted. The City Manager
is charged with the responsibility of preparing the estimates of the annual
budget and the enforcement of the provisions of the budget as specified in
the budget resolution. Upon adoption of the annual budget resolution by
the Council, it becomes the formal 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 appropriation from the previous fiscal year.
Financial reports, which compare actual performance with the budget, are
prepared monthly and presented to the Council so the Council is able to
review the rinancial status and measure the effectiveness of the budgetary
controls. Budget control is maintained by recording encumbrances as
��urchase orders are written. Open encumbrances are reported as reservations
of fund balance at December 31, 1980.
THE CITY AND ITS SERVICES
This report includes all of the funds and account groups of the City. It
includes all activities considered by the U. S. Bureau of Census to be
part of (controlled by or dependent on) the City. The Housing and Redevel-
opment Authority (HRA), although governed by Commission members who are
i
Mr. Splinter -3- June 15, 1981
also City Council members, is considered by Census to be a separate govern-
ment because: it is an organized entity; (2) it has governmental
character; and (3) it is substantially autonomous. However, audited financial
statements for the HRA are included in this report since the City receives
and disburses funds for the HRA. Independent School District Nos. 286
(Earle Brown), 279 (Osseo), 281 (Robbinsdale), and 11 (Anokaj are totally
or partially located in Brooklyn Center and provide secondary education
services to students within the corporate limits of Brooklyn Center. These
independent school districts are governed by their respective school boards,
tlierefore financial data applicable to them has been excluded from this
report. Independent School District No. 287 (Suburban Hennepin County
Area Vocational Technical Institute) financial data has also been excluded
for the same reason. State Aid insurance premium tax in the amount of
$52,521 was receipted in by the City and disbursed to the Volunteer Firemen's
Relief Association with the City acting in an agency capacity. This report
includes all other activities considered to be a part of, and controlled
by, the City of Brooklyn Center.
The City provides the full range of municipal services contemplated by
statute or character. This includes public safety (police and fire),
streets, sanitation, health and social services, culture recreation,
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
General Fund.
The financial condition of each of the City's funds as of December 31, 1980
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.
GENERAL GOVERNMENTAL FUNCTIONS
A summary of the City budget for governmental functions as orginally adopted
(prior to subsequent amendments) for the calendar year 1980 follows:
Proposed Expenditures
City operations (General Fund) $4,935,558
Debt redemption
Park bonds 16,500
1969 Building and improvement bonds 212,200
Total Proposed Expenditures $5,164,258
Proposed Source of Financing:
Taxation (See summary of taxation
presented below) $2,350,734
Intergovernmental (State and
Federal revenuel 1,846,543
Tax penalties 25,000
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Mr. Splinter -4- June 15, 1981
Proposed Source of Financing: (continued)
Local revenue:
General government services 414,264
Permits and license 168,000
Court Fines 90,000
Miscellaneous revenue 133,000
Transfers-in:
Liquor fund 125,000
Fund balance 11,717
Total Proposed Financing $5,164,258
Ad valorem tax levies for the current year 1980 and for the two previous
years are summarized and presented below:
1980 1979 1978
Mill Mill Mill
Tax Lev� Rate Amount Rate Amount Rate Amount
City operations 14.013 $1,910,190 14.150 $1,831,293 13.001 $1,609,474
Debt redemption 1.678 228,700 1.962 254,000 2.219 274,600
Public Employee's
retirement 1,554 221,844 1.453 188,002 1.089 134,658
Total Levy 17.245 $2,350,734 17.565 $2,273,295 16.313 $2,018,732
Assessed Valuation 1980 1979 1978
Real estate $134,112,276 $126,968,242 $121,617,308
Non-exempt personal property 3,816,766 4,389,397 3,537,911
Fiscal disparities adjustment (1,832,196) (1,464,192) (1,190,083)
Total Assessed Valuation $136,096,846 $129,893,447 $123,965,136
Minnesota's Levy Li.mitation Law was first implemented in 1972. 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 8� of the prior
year's levy. The law also provides certain mechanisms by which a munici-
pality may adopt levies outside the levy limitations. The following table
summarizes the City's compliance with the law for the years 1977 through 1980:
1980 1979 1978 1977
Total tax levy $2,350,734 $2,273,295 $2,018,732 $1,881,960
Less special tax levies 538,041 494,033 449,581 473,028
Limited levy $1,812,693 $1,779,262 $1,569,151 $1,408,932
Levy limitation 1,819,897 1,858,367 1,821,608 1,649,898
Under levy limitation 7,204 79,105 252,457 240,966
The State legislature enacted a"Fiscal Disparity Law" in 1971 which was
not implemented until taxes payable in 1975 due to a constitutional challenge.
The law provides for the "pooling" of 40$ of all new commercial and industrial
property valuation in the seven county metropolitan area. Valuation from
this "pool" is redistributed to taxing jurisdictions according to specified
criteria. The impact of the disparity law on the City is shown below. The
City has, since the inception of the law seven years ago contributed $5,774,101
in assessed valuation. The fiscal disparities adjustments for the seven
years are as follows:
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Mr. Splinter -5- June 15, 1981
Year Assessed Assessed Value Net Received
Taxes Value Contri- Received Or
Payable buted to "Pool" From "Pool° (Contributed)
1975 2,355,241 2,816,222 460,981
I976 3,746,879 3,880 133,422
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)
7 Year Total $38,468,286 $32,694,185 (5,774,101)
As of December 31, 1980, the fund balance of the General Fund, which had
not been appropriated to a specific expenditure purpose, totaled $2,626,856.
This amount represents the working capital that is available to finance the
general operations of the City. During 1980, the Council transferred $490,000
from the General Fund balance to the Capital Project Fund. The Council also
adopted a method of determining an adequate fund balance for working capital
and contingencies.
Revenue received to be used for general governmental operations totaled
$5,190,441 in 1980, an increase of 207,345 over the previous year. The
t following table presents an analysis of the major revenue sources (budgetary
basis) of the General Fund for 1980 and compares them to 1979:
Increase
of (Decrease)
Revenue Source 1980 Tratal 1979 From 1979
Taxes, Ad valorem $2,188,218 42.2� $2,131,443 56,775
Intergovernmental revenue 1,496,924 28.8 1,298,545 198,379
Charges for services 556,316 10.7 465,885 90,431
Licenses and permits 195,931 3.8 186,464 9,467
Court Fines 111,382 2.1 82,466 28,916
Miscellaneous revenue 195,710 3.8 135,889 59,821
Other sources 434,243 8.4 682,404 (248,161)
Appropriations from
fund balance 11,717 .2 -0- 11,717
Total Revenue $5,190,441 100.0� $4,983,096 $207,345
Expenditures for general government operations totaled $4,600,079 in 1980,
an increase of $361,566 over the previous year. The following table presents
an analysis of the major expenditure functions (budgetary basis) of the
General Fund for 1980 and compares them to 1979:
t Increase
of (Decrease)
Expenditure By Function 1980 Total 1979 From 1979
General Government 840,311 18.3� 688,539 $151,772
Public Safety 1,446,132 31.4 1,521,159 (75,027)
Public Works 1,103,334 24.0 892,470 210,864
Community Health 43,521 1.0 48,576 (5,055)
Parks and Recreation 925,312 20.1 860,283 65,029
Other uses 241,469 5.2 227.486 13,983
Total Expenditures $4,600,079 100.0� $4,238,513 $361,566
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Mr. Splinter -6- June 15, 1981
The complete reporting of the General Fund financial operations and positian
can be found in the General Fund section of this report.
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 December 31, 1980 were as follows:
Ratio of Debt to Ratio of Debt to
Assessed Value Present Debt Per
Amount of Present Max'ket Market Value Capita
Net direct bonded debt $3,745,933 2.75$ .81� $120.19
I
Outstanding general obligation bonds at December 31, 1980 totaled $5,745,000
of which $2,325,000 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
$655,000 of G. O. State Aid Street Bonds which were issued to finance state
aid projects and are repaid from state allotments. The remaining $2,765,000
is direct tax supported debt which is repaid by the proceeds of ad valorem
tax levies. Park Improvement Bonds, in the amount of $1,500,000 and having
an average maturity of 9.5 years, were sold on August 25, 1980 at a net
interest rate of 7.5266�. During the past year, $675,000 of general
obli ation bonds were retired.
5
Outstandin revenue bonds on December 31, 1980 totaled $520,000. These are
g
bonds issued in 1963 for improvements to the water utility and are repaid
from the public utilities revenues. During the past year, $35,Q00 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 Trust Fund was established to provide a uniform and consistent
means for inuesting temporary surpluses of individual City Funds. Each
�I individual City Fund invests in the Investment Trust 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 agree-
ments, savings and loan associations' savings certificates and City of
Brooklyn Center Construction ncites issued to provide temporary financing
for construction in the special assessment funds.
The average yield on investments during the year was 8.87� and the Fund
distributed $1,156,460 in interest earnings to the participating funds.
The complete reporting of the Investment Trust Fund's financial operations
and position can be found in the Trust and Agency Funds Statements section
of this report.
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Mr. Splinter -7- June 15, 1981
CAPITAL PROJECTS FUNDS
The Capital Projects Funds of the City include the following:
Lawcon Fund: Established to account for federal and state land and water
conservation grants expended on developing certain park lands.
Open Space Land Acquisition Fund: Established to account for federal and
state grants expended on the acquisition of public open space lands within
the community.
Community Development Block Grant Fund: Established to account for grants
received from the Department of Housing and Urban Development expended on
projects for low and moderate income individuals in the manner as set forth
in the Community Development Block Grant Guidelines.
Capital Projects Fund: Established to account for monies received from
various sources (including the Lawcon and Community Development Funds, G. O.
bond funds, and other Fund transfers) expended on certain major, permanent
facilities. A listing of current capital projects can be found in Schedule S-l.
Municipal State Aid for Construction Fund: Established to account for monies
received from the Minnesota Department of Transportation expended on State
Aid approved projects.
The reporting of these funds financial operations and position can be found
in the Capital Projects Funds Statements section of this report.
I PUBLIC UTILITIES FUND
Comparative data for the City's Public Utilities operations for the past
two fiscal years are shown in the following table:
1980 1979
Water Department operating revenue $531,258 $400,308
Sewer Department operating revenue 948,644 789,591
Water Department operating income 123,431 51,493
Sewer Department operating income 230,053 136,170
Combined utilities net income 353,484 187,663
Water customers at year end 8,119 7,932
Sewer customers at year end 8,371 8,263
The �ublic Utilities operating revenues are to be used to finance system
maintenance and future expansion and improvements. 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 $142,456 for the calendar year ended December 31, 1980. The
Liquor Fund transferred $125,000 during the year to the General Fund to
assist in the financing of City operating expenses. A condensed comparison
of the stores' 1980 operations with those of 1979 follows:
1980 1979
Sales $2,404,379 $2,289,874
Cost of sales 1,940,294 1,839,003
Gross profit on sales 464,085 450,871
-13-
Mr. S linter -8- Jun 1
p e 5, 1981
1980 1979
Operating expenses 330,200 302,360
Net operating income 133,885 148,511
Interest and other income 8,571 13,983
Net Income 142,456 161,994
Transfers to the General Fund 125,000 $.125,000
The Department began the installation of an on-line automated inventory
control and management system during 1980 which will be completed in 1981.
The s�stem features point of sale terminals and automatic daily polling of
these terminals by the computer through telephone access.
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 who],ly 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. The compl•ete reporting of the Special Assessment Fund's
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,
1980, the general fixed assets of the City amounted to $19,463,637. 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 accountirrg 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 CONFORMANCE
The Municipal Finance Officers Association of the United States and Canada
(MFOA) awarded a Certificate of Conformance in Financial R.eporting to the
City of Brooklyn Center for its comprehensive annual audited financial
report for the fiscal year ended December 31, 1979.
-14-
Mr. Splinter -9- June 15, 1981
In order to be awarded a Certificate of Conformance, a governmental unit
must publish an easily readable and efficiently organized comprehensive
annual financial report, whose contents conform to program standards.
Such reports must satisfy both generally accepted accounting principles
and applicable legal requirements.
A Certificate of Conformance is valid for a period of one year only. We
believe our current report continues to conform to Certificate of Conformance
Program requirements, and we are submitting it to MFOA 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 should like to express my appreciation to all
members of the Department. I should also like to thank the Mayor, Council
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,
C�� W
Paul W. Holmlund
Director of Finance
PWH:pap
y
-15-
Certificate
1
of
1 onformanc
C e
1
in Financial
Ae ortin
1 n g
Presented to
City of
Brooklyn Center, Minnesota
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
December 31, 1979
A Certificate of Conformance in Financial Reporting is
presented by the Municipal Finance Officers Association
of the United Sta`es and Canada to governmental units
and public employee retirement systems whose comprehensive
annual financial reports (CAFR's► are judged to substantially
conform to program standards.
aGE OFF/�
�P o� r� qs
��UNtiEO STATES y
``r u,o y President
c i CANAOA y
WRPORAiroN h n
J �y���ti
WCMiC�4
Executive Director
-16-
I MOEN AND PENTTILA, LTD.
GERTIFIED PUBLIC ACCOUNTANTS
SUITE 203 VALLEY SOUTH BUILDING
ME�teHA oF 6950 WAVZATA BOULEVARD (812) 546-3306
AMERICAN INSTITUTE OF CERTIFIEDPUBLICACCOUNTANTS MINNEAPOLIS. MINNESO7A 55426
June 3, 1981
Honorable 1Vlayor, Members of
the City Council, and City
Manager
City of Brooklyn Center, Minnesota
We have examined the combined financial statements of the City of
Brooklyn Center and its combining and individual fund financial statements
as of and for the year ended December 31, 1980 and 1979, as listed in the
table of contents. Our examination was made in accordance with generally
accepted auditing standards and, accordingly, included such tests of the
accounting records and such other auditing procedures as we considered
necessary in the circumstances.
In our opinion, the combined financial statements referred to above
present fairly the financial position of the City of Brooklyn Center at December
31, 1980 and 1979, and the results of its operations and the changes in finan-
cial position of its proprietary fund types and similar Trust Funds for the year
then ended, in conformity with generally accepted accounting principles applied
on a basis consistent with that of the preceding year, Also, in our opinion,
the combining and individual fund financial statements referred to above present
fairly the financia.l position of the individual proprietary funds for the pear then
ended, in conformity with generally accepted accounting principles applied on a
basis consistent with that of the preceding year.
Our examination was made for the purpase of forming an opinion on
the combined financial statements taken as a whole and on the combining and
individual fund financial statements. The accompanying financial information
listed as supporting schedules in the table of contents is presented for pur-
poses of additional analysis and is not a required part of the combined financial
statements of the City of Brooklyn Center. The information has been subjected
to the auditing procedures applied in the examinatiori of the combined, combining,
and individual fund financial statements and, in our opinion, is fairly stated in
a11 material respects in relation to the combined financial stateme t taken as a
whole. �,.���:c..�aJ �!✓"�v,
MOEN PEN TTILA LTD
Certified Public Accountants
Field work completed May 15, 1981
Report signed June 3, 1981
-17-
City Of Brooklyn Center
All Fund Tyues and Account Groups
COMBINED BALANCE SHEET EXHIBIT 1
December 31, 1980
Proprietary Fiduciary
Governmental Fund Types Fund Types Fund Tvves Account Groupa Totals-Memorandum Only
Special Debt Capital Special Trust and General General Long- December 31,
General Revenue Service Projects Assessments Enterprise A�ency Fixed Asaets Term Debt 1980 1979
ASSETS
Cash on hand and in banks 475 3,900 639,231 638,606 274,789
Investments (at cost)(N ote lE) 2,682,686 459,936 388>563 3,379,778 2,904>603 1,673,454 531,869 12,020,949 9,842,999
Receivables (net of uncollectible):
Taxes 114,653 15,165 6,135 135,953 146,042
Accounts 14,077 2,199 32,987 104,644 153,857 167,183
Special assessments 7,695 1,927,646 10,125 1,945,666 2,440,160
Accrued revenue 144>375 412,771 557,146 435,517
City share of impmvements(Note 5) 159,092 159,092 189,741
Due from other funds 88,249 5,670 1>088,566 223,163 966 51,536 1,958,150 746,605
Due from other governments 74,914 57>990 816,77¢ 46,475 51,359 1,047,512 2,009,474
Inventories and supplies (Note 1F) 48,578 278,fi55 327,233 304,818
Prepaid expenses and deferred charges 4,125 15,191 52,080 71,396 60,930
Investments held for other funds (Note 71 14,141,928 14,141,928 13,521,185
Restricted investments and other
assets (Notes 3,4) 4,349,050 9,349,050 4,182,153
Property, plant and equipment (Note 19` 12,928,350 19,463,637 32,391,987 30,270,121
Less: Accumulated depreciation (2>899,916) (2,899,918) (2,713,170)
Authorization to assess for
construction in progress 1,546,860 1,546,860 2,072,300
A mount available in Debt Service Funds 403,728 403,728 363,471
A monnt to be provided for General
Long-Term Debt 3,175,364 3,175,364 1,884,111
Total Assets 3,027,757 533,500 403,728 5,265,118 6,856,217 16,697,040 15,778.470 19,463,637 3.579,092 71,624,559 66,198,429
LIABILITIES AND FUND EQUITY
Liabilities
Accounts payable S 122,616 13 60,018 24,743 156,830 26,455 390,675 586,955
Contracts payable 11,118 526,800 245,228 783,146 694,905
Due to other funds 133,500 35,342 1,178,926 109,200 1,182 1,958,150 746,605
Accrued expenses 125,619 152,824 26,233 304,661 250,504
Construction loans payable 1,929,423 1,929,423 811,000
Assessments payable on City groperty(Note 51 159,092 159,092 133,168
Special assessment bonda payable 2,325,000 2,325,000 2,805,000
Revenue bonds payable 520,000 520>000 555,000
General obligation bonds payable 3,420,000 3,420,000 2>115,000
Due to funde perticipating 'v�
Investment Trust Fund (Note 7) 14,973,482 14,973,482 13,576,304
Customer and contractor depoeits 900 •140,396 140,746 136,120
Deferred credits (Notes 3,4)
Due to other governments 48,233 311,939 360,172 323,571
Total Liabilities 381,730 46,473 -0- 1,813,977 4>766,408 1>016,589 15,140,283 -0- 3,579,C92 26,764,547 22,734,132
Fund E uit
Contributed capital 10,101,350 10,101,350 10,021,676
Invested in general fixed assets 19,963,637 19,963,637 17,477,725
Retained earnings:
Reserved for debt retirement 131,485 131,485 132,B50
Reserved for construction 82>982 82,982 76,230
Reserved for working capital 20,000 20,000 20,000
Designated for plant expaneion 3,777>213 3,777,213 3,601,017
Undesignated 1,567,426 1,567,926 936,211
Fund $alancea:
Reserved for encumbrances (Note 1G 19,171 19,171 220,420
Reserved for debt services 2,291,377 2,291,377 3,332,639
Appropriated 182,268 403,728 2,099,704 (221,568) 2,459,132 1,214,379
Unappropriated 2.626,856 304,759 1,376,437 638,187 4,946,239 6,430,950
Total Fund Equity 2.646,027 487,027 403,728 3,971>141 2,069,809 15,G80.956 638>187 19,463,637 -0- 44,860,012 43,464,29?
Total Liabilities and Fund Equity 3.027,757 533,500 403.726 5,285,118 6,856>217 16.697,040 15,778,470 19,463 3,579,092 71,624,559 66,198,429
(See notes to financiiil statements)
This statements is an integral part of report dated May 15, 1961
MOENBPENTTIIA.ITD.
I
i
I
City Of Brooklyn Center
All Governmental Fund Types EXHIBIT 2
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
December 31, 1980
Memorandnm Oniy
(GAAP Basis) Special Debt Capital Special Totals
General Revenue Service Projects Asseas[pents 1980 1979
Revenues
Taxes and special assessments levied 2,188,218 228,755 32,109 2,449,082 2
Licenses and permits 195,931 195,931 186,464
Intergovernmental revenue 1,486,924 246,313 988,374 516,229 3,247,840 3,024,121
Charges for services 451,688 19,044 970,732 485,818
Fines and forfeits 111,382 111,382 82,466
Interest 40,324 244,736 412,399 697,459 678,297
Miscellaneous 300,338 70,955 45,732 417,025 140,769
Total Revenues 4,744,481 336,312 269,079 1,233,110 1,006,469 7 6,983,378
Expenditures
General government 839,307 839,307 888,539
Public safety 1,942,619 1,492,619 1,521,159 I
Streets and high ways 1,103,1fi6 1,103,166 892,470 I
Community Health services 37,336 37,336 48,576 'l
Parks and recreation 917,224 917,224 893,109
Other 50,220 2,411 8,932 61,563 252,905
Capital ouUay 3,209,544 1,962,230 5,171,774 638,094
Debt service: 195,000 195,000 210,000
Principal retirement
Interest and fiscal charges 134,728 142,449 277,177 325,444
Total Expenditures 4,339,652 50,220 332,139 3,209,544 2>113,611 10,045,166 5,470,296
Excess of Revenues Over (U nder) Expenditures 404,829 286,092 (63,060) (1,976,434) (1,107,142) (2 1,513,082
Other Financing Soumes (Uses)
Sale af bonds 1, 500, 000 1, 500, 000
Transfers in from other fun ds 434,243 103,317 490,000 207,783 1,235,343 896,538
Transfers out to other funds (490,000) (2b6,721) (599,896) (1,346,617) (700,189)
Insurance and other (241,256) 67,100 (179,156) 648,948
Tatal Other Financin Sources (Usea) (297,013) (256,721) 103,317 1,457,204 207,783 1,214,570 845,303
Excess of Revenues and Other Sourcea Over
(Under)Expenditures and Other �aes 107,816 29,371 40,257 (519,230) (899,359) (1,241,145) S 2,358,385
Fund B alances January 1 2,538,211 457,656 363,471 3,990,371 2,969,168 10,318,877 7,960,492
Fund B alances December 31 2,646,027 487,027 403,728 3,471,141 2,069,809 9,077,732 10,318,877
(See notes to financial statements)
This statement is an integral part of report dated May 15, 1981
MOEN 8 PENTTILA. LTD.
i
City Of Brooklyn Center
General Fund
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE EXHIBIT 3
ACTUAL (GAAP BASIS) AND COMPARISON OF BUDGETARY BASIS TO BUDGET (NON-GAAP)
For the Year 1980 With 1979 Actual (GAAP Basis) for Comoarison of Actual
Year 1980
Adjustment Budgetary Basis
Actuffi To Budgetary Budgetary Over (Under) 1979 Actual
(GAAP Basis) Basis Basis Bud¢et BudQet (GAAP Basis)
Revenue
Ad valorem taxes 2,188,218' 2,188,218 2,147,034 41,184 2,131,443
License and permits 195,931 195,931 168,000 27,931 186,464
Intergovernmental revenue 1,496,924 1,496,924 1,508,466 (11,542) 1,298,545
Charges for services 451,688 556,316 553,264 3,052 465,885
Court fines 111,382 111,382 90,000 21,382 82,466
Miscellaneous 300>338 195,710 32,000 163,710 135,889
Total Revenue 4,744>481 -0- 4,744,481 4,498,769. 245,717 4,300,692
Expenditures
General government 839,307 1,004 840,311 910,042 (69,731) 688,539
Public safety 1,442,619 3,513 1,446,132 1,510,9�2 (64,840) 1,317.,938
Streets and highways 1,103,166 168 1,103,334 1,200,280 (96,946) 883,870
Community health servicea 37,336 6,185 43,521 45,000 (1,479) 48,576
Parks and recreation 917,224 8,088 925,312 973,977 (48,665) 851,684
Total Expenditures 4,339,652 16,958 4,358,610 9.B40 (281,661) 3,79Q.607
Excess (Deficiency) of Revenue Over Expen ditures 404,829 (18,958) 385,871 (141,507) 527 510,085
N
O
Other FinancinQ Soumes (Uses)
Appropriated General Fund fund balance 11, 717 11, 717 11, 717
Operating tranafers in 434,243 434,243 472,189 (37,946) 650,527
Insurance and other unallocated expenditurea (241,256) (213) (241,469) (342,399) 100,930 (227,486)
Transfer to Capital Projects Fund (490,000) (490,000) (990,000)
Totai Other FinancinR Sourcea (Uses) (297,013) 21,504 (Z85,509) 141,507 (427,016) 423,041
Excess (DeY'iciency) of Revenues Over
Expen ditures and Other Sources (Uaes) 107,816 (7,454) 100,362 100,362 979,433 l
Fund Balance At Beqrinning of Year 2,758,631 2,758,631 2,758,631 1,825,505
Fund balance appropriated to budget (11, 717) (11, 717) (11, 717)
Decrease in reserve Yor encumbrances (220.420) 19,171 (201,249) (220,420) 19,171 (46,307)
Fund Balance At End Of Year 2.646,027 -0- 2.646,027 2,526,494 119,533 2,75 8,631
(See notes to financial ststements)
This statement is an integral part of report dated May 15, 1981
MOEN 8 PENTTILA, LT0.
i
City Of Brookiyn Center
All Proprietary Fund Tyoes and Nonexoendable Trust SXHIBIT 4
COMBINED STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS/FUND BALANCES
For the Year Ended December 31. 1980
With Comparative Totals for the Year Ended Lecember 31, 1979
Fiduciary
Pronrietary Fund Tynes Fund Types
Public Investment Totals
UUlities Liauor Trust 19s0 1979
Revenues
Charges for services 1,479,902 1,479,902 1,150,775
Gross margin on product sales 464,085 464,085 450,871
Interest 458,806 6.265 1,158,134 1,623.205 1,368,757
Other revenue 11,632 2,306 13,938 45,732
Total Revenues 1,950,340 472,656 1,158>134 3 3,016,135
E�enses 148,171 172,022 320,193 332,437
Personal services
Contractual services I84,650 55,526 1,674 241,850 184,811
Supplies and materials 32,686 9>364 31,938 28,582
Insurance
9,613 22,325
Rent and administration 68,030 60,412 128,492
Interest an d fiacal agent fees 21,710 21,710 23,078
Depreciation 160 10,551 190,989 186,600
Earnings distributed to participating funds 1,156,460 1,156,460 978,181
Metropolitan Waste Contrad Commission-service charges 502,830 502,830 970,334
Other 6,870 6,870 90
Total Expenses E 1 330,200 1,158,134 2.643,332 2,307,211
Excess Of Revenues Over (Under) Expenses 795,392 142,456 -0- 937,798 708,924
Other Financine Sources (Usea)
Tranafers to General Fund (125>000) (125,000) (125,000)
Transfers from other funds 7,964
Total Other Financin¢ Sources (Uses) -0- (125,000) -0- (125,000) (117>036)
Exceas of Rev�ues and Other Sdureea
Over (Under) Exoenses and Other bses 795,342 17,456 -0- 812,798 591,886
Retained Earnings/Fund Balances Januarv 1 4,5T3,409 192,899 4,766,308 4,174,420
Retained Earnin �s/Fund Balance December 31 5. 368, 75 1 210, 355 -0- 5, 579,106 4, 766.308
(See notes to financial statements)
This statement is an integral part of report dated May 15, 1981
MOEN 8 PENTTILA. LTD.
C ity Of B rooklyn C enter
Proprietary Funds (Note 12)
COMBINED STATEIVlENfi OF CHANGES IN �INANCIAL POSITION EXHIBIT 5
For the Year Ended December 31, 1980
With Comparative Totals for the Year Ended December 31, 1979
Municipal Public
Liquor Utilities Totals
Fund Fund 1980 a 1979
Sources of Financial Resources
Operations
Net income for year 142, 456 795, 342 937, 798 708, 924
Add: Items not. requiring current outlay
of resources:
Depreciation 10, 552 180, 438 190, 990 187, 600
Total Resources Provided By Operations 153, 008 975, 780 1,128, ?88 895, 524
Collections of other receivables 1, 864
Debt retirement investments sold 1, 365 1, 365 1, 574
Contributions toward construction 79, 474 79, 474 9, 085
Decrease in assessments receivable-deferred 4,936 4,936 1,967
Decrease in M. W. C. C. receivable 8, 348 8, 348 7, 964 I
Decrease in settlement receivable 1, 402 1, 402
Totals 154,410 1,069,903 1,224,313 917,978
Uses of Financial Resources
Purchase of properties 416 139,780 140,196 70,075
Payments to retire bonds 35, 000 35, 000 35, 000
Decrease in lawsuit deferred credit 3, 266
Increase in working capital 28, 994 700, 543 729, 537 538, 268
Increase in restricted investments 176,196 176,196 137,152
Transfers to General Fund 125, 000 125, 000 125, 000 I
Amortization of deferred gain on sale of assets 3, 284 3, 284 3, 285
Construction funds invested 6, 752 6, 752 5, 932
Amortization of Metro Waste Control
Commission deferred credit 8, 348 8, 348
Totals 154,410 1,069,903 1,224,313 917,978
(See notes to financial statements)
This statement is an integral part of report dated May 15, 1981
Cit� of Brookl�n Center
NOTES TO FINANCIAL STATEMENTS
December 31, 1980
Note 1: Summary of Significant Accountin� Policies
A Fund Accountin�
The accounts of the City are organized on a basis
of funds and account groups each of which is considered a
separate accounting entity The operations of each fund are
accounted for with a separate set of self-balancing accounts
that comprise its assets, liabilities, fund equity, revenues, and
expenditures, or expenses, as appropriate. Government re-
sources are allocated to and accounted for in individual funds
based upon the purposes for which they are to be spent and
the means by which spending activities are controlled.
B. Fu�ed Assets and Long-Term Liabilities
The accounting and reporting of fixed assets and
Iong-term Iia.bilities associated with a fund are determined by
its measurement focus. A11 governmental funds are accounted
for on a spending or "financial flow" measurement, which means
that only current assets and current liabiiities are generally in-
cluded on their balance sheets. Their reported fund balance
is considered a mea�ure of "available spendable resources"
Governmental fund operating statements present increases (re-
venues and other financing sources) and decreases (expenditures
and other financing uses) in net current assets. Accordingly,
they are said to present a summary of sources and uses of
"available spendable resources" during a period.
Fixed assets used in governmental fund type operations
are accounted for in the General Fixed Assets Account Group,
rather than in the governmental funds. Public domain general
fixed assets consisting of certain improvements other than buil-
dings, including roa.ds, 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 asset�
All fixed assets are valued at historical cost or estim-
ated historical cost if historical cost is unavailable. Donated fixed
assets are valued at their estimated fair value on the date donated.
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 useful lifes are as follows:
Public Utilitie�
Water Sewer Liquor
Mains/Lines 100 yrs. 100 yrs.
Structures/improvements 30 yrs. 25 yrs. 3-10 yrs.
Equipment 5-25 yrs. 3-10 yrs.
Public Utility assets financed by special assessments are
recorded as contributions in aid of construction
MOEN PENTTILA, LTD.
-23-
Cit� of Brooklyn Center
NOTES TO FINANC�AL STATEMENTS
December 31, 1980
Note 1: Summary of Significant Accounting Policies (cont'd)
B. Fixed Assets and Long-Term Liab�ities (cont'd)
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' 5pecial Assessment Funds.
The two account groups differ from "funds" in that
they are not involved with measurement of results of operations.
They are concerned anly with the measurement of financial posi-
tion.
Because of their spending measurement focus, expendi-
ture 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 recog-
nized as governmental type expenditures or fund liabilities 4 They
are instead reported as liabilities in the General Long-Term Debt
Account Group
C Basis of Accounting
Basis of accounting refers to when revenues and ex-
penditures or expenses are recognized in fihe accounts and re-
port�d in the financial statements. Basis of accounting relates
to the timing of the measurement made, regardless of the measure-
ment focus applied.
All governmen#al �unds are accounted for using the
modified accrual basis of accounting. This means that their
revenues are recognized when they becorne measurable and avail-
able as net current assets. Specia� assessments and property
ta.xes are considered "measurable" when in the hands of inter-
mediary collecting gQVernments a�d 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.
Expenditures are genera7.ly recognized under the
modified accrual basis of aecounting when the related fund
liabilitiy is incurred. Exceptions to this general rule include:
(1) accumulated unpaid vacation, sick pay, and other employee
amounts which are not accrued; and 2) principal on general
long-term debt which is recognized when due.
All proprietary funds are accounted for using the accrual
basis of accounting. Their revenues are recognized when they
are earned, and their expenses are recognized when they are
incurred. Unbilled Water and Sewer Fund ut�ity service receivables
are recorded at year end.
MOEN 8 PENTTILA, LTD.
24-
C ity of B rooklyn C enter
NOTES TO FINANCIAL STATEMENTS
December 31, 1980
Note 1: Summary of Significant Accounting Policies (cont'd)
D. Budgets and Bud�etary Accountin�
Financial control of spending for various governmental
activities is exercised through the use of budgetary procedures.
Exclusive authority over all budget matters remains with the
Council. The Council adopts ail budgets, and any amendments
to those budgets also require specific approval by the Counc�.
Departmental budgets may not exceed amounts set by the Council al-
though legally gross expenditures may not exceed gross revenues
and other souxces. Budgetary reporting is included in fhis report
in the General Fund. Formal annual budgets are not employed
for Special Revenue Funds, Capital Projects Funds, Special Asses�
sment Funds or Debt Service Funds. Effective budgetary control
is alternatively achieved in these funds by Council approval of
individual projects and expenditures. Supplemental appropriations
dux�ing the year were not material in amount. Appropriations
which are not encumbered at year end lapse.
E Investments
Investments are stated at cost, which approximates
market. Cash balances from all funds are pooled and invested
to the extent available in authorized investments. Interest in-
come on such investments is recorded as earned, and allocated
to the respective funds on the basis of the participating funds
investment
F Invento
rY
Inventories within the Water and Sewer Fund and the
Municipal Liquor Stores Fund are valued at the lower of cost
(first-in, first-out) or market, Inventory quantities are deter-
mined by utilizing physical counts.
G Encumbrances
Encumbrances accounting, under which purchase orders,
contracts, and other committmenfis fox the expenditure of monies
are recorded in order to reserve that portion of the appiicable
appropriation, is employed. Encumbrances outstanding at year
end are reported as reservations of fund balances, since they
do not consititute expenditures or liabilities.
H Comparative Data
Comparative totals for the prior year have been presented
�'I 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. presentation of prior year totals by individual
funds)data have not been presented in each of the statements sinc�,e
their inclu�ion would make the statements unduly complex and difficult
to rea d
MOEN PENTTILA, LTD.
25-
City of Brooklyn Center
NOTES TO FINANCIAL STATEMENT5
December 31, 1980
Note 1: Summa of Si ificant Accountin Policies (cont'd)
Y`Y
I. Tota.l Columns on Combined Statements
Total columns on the Combined Statements are captioned
Memorandum Only to indicate that they are presented only to
fac�litate financial analysis. Data in these columns do not present
financial position, results of operations, or changes 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
J Property Tax
The City Council annually adopts a tax levy and cer-
tifies it to the County for billing and collection. The County
is responsible for billing and collecting all property taxes for
itsel€, the City, the local School District and other taxing auth-
orities. These taxes are payable (by property owners) by May
31 and October 31 of each calendar year. These taxes are col-
x' atel
1 and r m' ed to the Cit b a ro im
ected by the County e rtt y y pp Y
each subsequent July 15 and December 15. Additionally, delin-
a se ement.
quent collections are remitted to tk�e City with e ch ttl
ihe 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 5tate remits this
credit in two e ual installments in Jul and December each
i q Y
year.
The city recognizes property tax revenue when it
becomes both measurable and available to finance expenditures
of the current period.
K Special Assessments
Special assessments are �evied against the benefited
properties for the assessable costs of special assessment impro-
vement 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 al-
lowed to prepay total future installments without interest or
pre-payment penalties.
MOEN PENTTILA, LTD.
26
C ity of B rooklyn C enter
NOTES TO FINANCIAL STATEMENTS
December 31, 1980
Note 1: Summary of Significant Accounting Policies (cont'd)
K Special Assessments (cont'd)
The City recognizes special assessment revenue when
ifi becomes both measurable and available to finance bonded debt.
In practice, special assessment principal is recognized as revenue
in the year when assessment rolls are tabulated and adopted by
the City Council, and when it is available to finance the reg-
ulated bond issue principal. 5pecial assessment interest is re-
cognized as revenue in the year due, which generally corres-
ponds to the period it is actually earned.
Once a specia.l 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 excessive
by City Gouncil or court action. If special assessments are de-
linquent for a State Statute-determined number of yea.rs, 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. Gen-
erally the City will collect the full amount of its special assess-
ments 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 with-
aut spending restrictions. Payment from the State is generally
received during each calendar year for that calendar year. The
City recognizes iocal government aid revenue when it becomes
both measurable and available to finance curresit operations.
1
M. Grants
The City receiu�es various Federal, State and other
grants, the purpose of which is to fund specific City expen-
ditures
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.
N. Severance and Vacation Pay Policies
The City pays employees severance pay upon termination
of employment based on accumulated sick leave and accrued vac-
ation. Severance, vacation and sick leave pay are recorded as an
expenditure when paid. At December 31, 1980, the City had a
liability of $110, 426 for accrued vacation pay and a liab�lity of
$106 445 for accumulated sick leave
MOEN 8 PENTTILA, LTD.
27-
Cit� of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
December 31, 1980
Note 2: Changes in Long-Term Debt
The following is a summary of bond transactions of
the City for the year ended December 31, 1980:
General Special
Obli�ation Revenue Assessment Total
B on ds payable-
January 1 $2,115,000 555,000 $2,805,000 $5,475,000
Bonds retired (195, 000) 35, OOU) 480, 000) 710, 000)
Bonds sold 1, 500, 000 1, 500, 000
Bonds Payable-
�ecemQer :3`1 $3, 420, 000 520, 000 $2, 325, 000 $6, 265, U00
$403, 728 is available in Debt Service Funds for payment of
General Obligation Bond principal and interest.
General Obligation Bonds
General Obligation Bonds are recorded in the General t
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 asses-
sments levied and collected for 1oca1 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 insuf-
ficient to retire outstanding bonds.
Note 3: Public Utilities Fund
Public Utalities 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 Ut�ities 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 retire-
ment purposes and defines the manner of accounting for the activities
of the Public Utilities Fund.
28-
MOEN 8 PENTTILA, LTD.
1 C ity of B rooklyn C enter
NOTES TO FINANCIAL STATEMENTS
December 31, 1980
Note 3: Public Utilities Fund (cont'd)
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 earnings thru 1979 351,166
1980 Investment earnings 6, 752
Total Investment Earnings 357, 918
Deduct: Construction expenditures thru 1979 $1, 274, 936
1980 construction expenditures -0-
Total Construction Expenditures $1, 274, 936
Construction Account Balance 82, 982
Debt Retirement Account
Accumulated amounts set aside to meet 1980
requirements for interest and principal:
Investments with accrued interest 56, 485
Reserve account investments 75, 000
Total Debt Retirement Account 131, 485
A summary which reconciles restricted assets with
ea.rnings and also compares appropriated earnings with restriction
requirements as set froth by the resolution authorizing the sale
of revenue bonds is presented as follows:
Revenue
Construction Bond Reserve
Account Account Account
Restricted Assets 12/31/ 1980 $82, 982 $56, 485 $75, 000
Anprovriated Earnin�s at
12/31/1980 $82,982 $56,485 $75.000
All bonds which mature on January 1, 1982 or thereafter
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:
1. If redeemed January 1, 1977, or thereafter
prior to January 1, 1981, premium of 1� o.
2. If redeemed January 1, 1981, or therafter
no premium
29-
i' MOEN 8 PENTTILA, LTD.
n er
Ci of Brookl 'n Ce t
tY Y
NOTES TO FINANCIAL STATEMENTS
December 31, 1980
N:�te 3: Public Utilities Fund (cont'd)
Since 1963, the Public Utilities Fund has been accumulating
cash for the purpose of expanding the investment in plant and
equipment to supply water to the residents of the City. The
present plans for expansion of the fac�.ities has a cost estimate
I of $6,184, 000. The plan includes capital outlays for the con-
struction of water mains, a 1.5MG water ground storage and a
lOMG water treatment plant. To date, $3, 777, 213 has been ac-
cumulated and set aside for the purpose of partially meeting the
financing requirement for the planned expansion.
Nate 4: Public Utilities Fund b7etro Waste Control Commission
Receivables and R.eserves
Pursuant to enacted legislation (Metropolitan Sewer Act-
Chapter 449 Session Laws) the Metropolitan Waste Control Commission
as of January 1, 1971, assumed ownership of all existing interceptors
and treatment works needed to implement a comprehensive plan for
the collection, treatment, and disposal of sewage in the seven county
metropolitan area.
Under the terms of the Act, the Commission is obligated
to reimburse each local government for the cost of facilities acquired.
This cost or purchase price of facilities is based on depreciated re-
lacement cost value as of December 31 1970 as determined b cost
P y
Il i anal sis and en ineerin studies. This current value receivable is
Y g g
to be paid by the Metropolitan Waste Control Commission over a
period of 30 years and the amount will earn interest at an annual
rate of 4$. 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.
The installment credit for 1980 consisted of principal and
interest and the amount of credit offset against 1979 sewer service
billings totaled $6, 398, leaving a balance due over the next 20
years of $193 ,169 as adjusted by the M. W. C. C.
Note 5: Special Assessment Funds
Special assessments which relate to improvements benefit-
ing City-owned properties total $159, 092 as of December 31, 1980.
The gayment for these improvements (with no interest charge) has
been scheduled over a period extending through 1985. These as-
sessments are obligations of the general fund and payment is planned
under normal budget procedures, whereby the needed monies will
be appropriated during the years as each installment becomes due.
-30-
MOEN PENTTILA, LTD.
,I
City of Brooklyn Center
NO�ES TO FINANCIAL STAT�MENTS
December 31, 1980
Note 6: Pension Plans and Pension Funds
The City participates in two pension plans as follows:
1. All City employees, with the exception of volunteer fire-
men, who have a separate plan, are covered by the Public
Employees' Retirement Plan This plan is administered by
an independent agency of the State of Minnesota and is
the central plan for employees of governmental units within
the State of Minnesota. The City contributes, on behalf,
of its employees, 5.5� to 12$ ($203,849 for 1980) of its
employees' salaries to this plan, and part of that contribution
covers previously unfunded amounts. The City contributed
$79,901 for 1980 to the Public Employees' Retirement Plan
for FICA
Actuarial Valuations of Plan Benefits are as follows:
(Per PERA report of 6/30/80)
a. 1Vlinnesota Statutes, Section 356.215, Subd. 4, provides
that actuarlal valuations of plan benefits shall be computed
in accordar�c:e 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 3Z percent in member's salary
b. The unfunded accrued liabilities of $343, 094, 559. 37 in
the Public Employees' Retirement Fund and $18,427,622.93
in the Police and Fire Fund as of June 30, 1980, are the
amounts by which reserves required to fund plan benefits
exceed the assets of the funds. In addition to the level
normal cost, the actuarial calculations included the amount
of additional annual contribution which would be required
to retire the current unfunded accrued liability by June 30,
2009.
c. Pension benefits are funded from member and employer
contributions and income from investment of fund assets.
Public Employees Betirement Fund members belong to either
the Basic or Coordinated Plan. Coordinated members are
covered by Social Security and Basic members are not.
All new members of the Public Employees Retirement Fund
must participate i� the Coordinated Plan. Current contribu-
tion rates for the funds are as follows: Unfund�d
A dditional
Employee Employer Employer
Public Employees Retirement Fund:
Basic Plan 8 2
Coordinated Plan 4$ 4$ 1�$
Police and Fire Fund 8% 12$
-31-
MOEN 8 PENTT(LA, LTD.
PUBLIC EMPLOYEES RETIREMENT FUND
�,��a
ASSETS OBLIGATION FOR SERVICE
RENDERED TO DATE 1�13�
i,o23
93�
8i6
9 5
725
6F5 812
6u 702 1
411 511
451
F'illions s65
of �+"�7
Doliars 350
261
r 7
19'/1 1972 1973 1974 1975 1976 19'T7 1978 19'T9 19a�
FtR�IDING 63� 67� 69°F 71p T3<
RnTio 72�,5 73a 57'� 5`�
ASSh^.'S UNFiR1DED OHLIGA'"IGN
POLICE AND FIRE FUND
ASSETS OBLIGATION FOR SERVICE 1
RENDERED TO DATE
139
u9
i 1
8,
ASSETS ILL�
uNFUrmED 67
OBLICATION 59
51 1
1
28
Millions
of
Dollars �5/ 1� 38 56 67 1 98� 120' 1�
1971 1972 1973 1974 1975 1976 1977 1978 1979 19�
�Tio G 89� 91�£ 74� 79� 83`� 77� 79`� BE�b �`b
-32-
City of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
December 31, 1980
r
Note 6: Pension Plans and Pension Funds (cont d)
2. The City contributes to the Brooklyn Center Firemen's
Relief Association, an independently administered retirement
plan for the City's volunteer firemen The benefits of this
plan are established by the 1�linnesota Legislature and the
financing of the plan is provided for by a state tax on fire
insurance premiums and the City's ad valorem tax. Acturial
studies of retirement needs are made periodically to determine
the contributions to the Association, According to a study
dated December 31, 1978, the Association had an unfunded
accrued liability of $6, 842. In order to maintain the current
level of benefits, annual payments of $25, 937 are required.
Currently no ad valorem tax is necessary.
Note 7: Investment Trust Fund
The Investment Trust Fund was established in 1965 by
Council action to provide a uniform and consistent method of
investing temporary surpluses of cash. Net income of the Fund
is distributed annually to each of the participating funds on the
basis of the average yearly investment maintained by each fund.
The net income and the effective rate of return on average invest-
ment by participating funds is shown below by years.
Rate of Net
Year Return Income
1980 8.87$ $1,156,460
1979 8.450 978,180
1978 7.66$ ?66,349
1977 7.11$ 637,855
1976 6.86� 592,363
1975 7.15$ 554,696
1974 7.66% 503,710
1973 6.63s 391,221
1956-1972 2.77�- 6.66$ 1,728,379
Total Distributed Earnin s 1956 1980 $7, 309, 213
Note 8: Trust and A�ency Funds
The Brooklyn Center Housing and ftedevelopment Auth-
ority is a separate entity from the City. The City receives an
ad valorem tax which is remitted to the Authority
1
33-
MOEN 8 PENTTILA, LTD.
Cit� of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS t
December 31, 1980
Note 9: Interfund Receivables and Payables
Individual interfund receivable and payable balances
at December 31, 1980 were as follows:
Inter-Fund Inter-Fund
Fund Receivables Payables
General Fund 88, 249 133, 500
Federal Revenue Sharing Fund 30, 457
Diseased Tree Removal Fund 5, 670 4, 885
Lawcon Fund 4, 359 704, 855
Capital Projects Fund 896,619 98,370
Community Development Block Grant Fund 248, 745
RZunicipal State Aid for Construction Fund 187, 588 126, 956
Special Assessments Construction Fund 223,163 109, 200
Municipal Liquor Fund 64 39
Public Utilities Fund 902 1,143
H.R.A. Fund 51,536
$1,458,150 $1,458,150
Note 10: Special Revenue Funds
Federal Revenue Sharing grants for the year ended
December 31, 1980, by the entitlement period are as follows:
Entitlement Period/Quarter Amount
11 2,3,4 $163,159
12 1 51,420
Total $214, 579
N ote 11: Liti�ation
The City Attorney has indicated that existing and pending
lawsuits, claims, and other action in which the City is a defendant
are not material.
Note 12: Proprietary Fund Financial Position
The Investment Trust Fund was not included in the
statement of changes in financial position because all net earnings
of the fund are distributed and fund balance is always zero.
-34-
MOEN 8 PENTTILA, LTD.
City of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
December 31, 1980
Note 13: Contingent Liabilities
The City participates in a number of federally assisted
grant programs, principal of which are the General Revenue
Sharing, Community Development Block Grant, Comprehensive
Employment Training Act, and Local Public Works programs.
These programs are subject to program compliance audits by the
grantors or their representatives. The audits of these programs
for or including the year ended December 31, 1980 have not yet
been conducted. Accordingly, the City's compliance with applic-
able grant requirements wi11 be established at some future date.
The amount, if any, o� expenditures which may be disallowed by
the granting agencies cannot be determined at this time although
the City expects such amounts, if any, to be immaterial.
Note 14; Changes in Fixed Assets
General Fixed Assets
B alanc e B alanc e
January 1, December 31,
1980 Ac uisitions Disposals 1980
Land 406, 817 161, 645 568, 462
Buildings 2, 911, 479 227, 201 3,138, 680
Park properties 1, 560, 792 998, 509 2, 559, 301
Furniture 203,406 154,103 1,146 356,363
Departmental equipment 1, 725, 613 298, 596 51, ?38 1, 972, 471
Storm sewers and streets 10, 669, 618 198, 742 10, 868, 360
Total Geneial Fi�ced Assets $17, 477, 725 $2, 038, 796 $52, $84 $19, 463, 637
Utilitv Plant in Service
Balance Transfers Balance
January 1, and December 31,
1980 Additions Disposais 1980
t Water Department
Nlains and lines 5, 606, 518 132, 369 5, 738, 887
Structures 1,339,275 446 1,339,721
Equipment 256, 459 8, 568 247, 891
Land 23, 071 23, 071
Total Water
Department 7,225,323 132,815 8,568 7,349,570
Sewer Department
Mains and lines 4, 846, 358 4, 846, 358
Structures 574,360 574,360
Equipment
Land 550 1,195 1,745
Total Sewer
Department 5, 421, 268 1,195 5, 422, 463
Construction in Progress 10, 096 10, 096
To#als $12,646,591 144,106 8,568 $12,782,129
-35-
MOEN PENTTILA, LTD.
City of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
December 31, 1980
Note 14: Chan�es in Fixed Assets (cont'd)
Liquor Fund Fixed Assets
B alance B alanc e
January 1, December 31,
1980 Additions Disposals 1980
Land 5, 898 5, 898
Equipment 111,108 416 111, 524
Leasehold 28 799 28 799
Totals 145,805 416 146,221
Note 15: Schedule of Long-Term Debt to Nlaturity (Including Interest)
Special
General Assessments Revenue
Year Total Obligation Bo�ds Bonds Bonds
1981 985,072 411,406 513,435 60,231
19$2 941,292 419,100 463,472 58,720
1s83 937,055 450,230 429,665 57,160
1984 1,021,119 448,990 516,529 55,600
1985 772,881 431,565 282,325 58,991
1986 639,130 428,660 153,185 57,285
1987 611,460 419,585 136,345 55,530
1988 588,525 419,680 115,070 53,775
lggg 550,145 408,795 89,330 52,020
1990 372,270 257,175 64,830 50,265
1991 508,575 398,445 61,620 48,510
1992 381,565 334,810 46,755
1993 321,780 321,780
Totals $8,630,869 $5,150,221 $2,825,806 654,842
Note 16: Additional Se�ment Information
Public Municipal
Utilities Liquor
Fund Fund Total
Net working capital 1, 227, 764 142, 612 1, 370, 376
Total equity 15,470,101 210,355 15,680,456
Current capital-contribution 79, 474 79, 474
Note 17: Fund Deficits
One individual fund, the Special Assessments Construc-
tion Fund, had a deficit of $189,285 which was caused by expen-
ditures exceeding appropriations in the amount of $221, 568. It
is expected that this situation will be rectified in 1981 when ad-
ditional appropriations are made from resources already available.
36-
MOEN 8 PENTTILA, LTD.
1
City of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
i� December 31, 1980
Note 18: Industrial Development ftevenue (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 obliga-
tions of the issuing municipality within the meaning of any constitu-
tional 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.
The City of Brooklyn Center has issued the following
Industrial Development Revenue Bonds:
A mount
Company Year Issued Issued
Medtronics, Inc 1979 $1, 000, 000
Cass Screw Machine Products 1980 750, 000
Commercial Partners/Brookdale 1980 6, 200, 000
Minnesota Municipal Leasing Corporation 1979 800, 000
(LOGIS)
The following Industrial Development Revenue Bonds
have been approved but not yet issued:
Brookdale Office Park Partners $8, 000, 000
S. S. Real Estate Swenson's Carriage House) 750, 000
Shingle Creek Eleven Project 1, 600, 000
Federal Lumber 1, 500, 000
Brookdale Corporate Center 7, 550, 000
-37-
MOEN 8 PENTTILA, LTD.
THE GENERAL FUND
The General Fund accounts for all revenues and expenditures of a govern-
mental unit which are not accounted for in other funds, and it is usually
the largest and most important accounting acitivity for state and local
governments. It normally receives a greater variety and number of taxes and
other general revenues than any other fund. This fund has flowing into it
such revenues as general property taxes, licenses and permits, fines and
penalties, rents, charges for current services, state-shared taxes, and interest
earnings. The fund's resources also finance a wider range of activities than
any other fund. Most of the current operations of governmental units will
be financed from this fund.
C ity of B rooklyn C enter
General Fund
COMPARATIVE BALANCE SHEET EXHIBIT 6
December 31, 1980 and 1979
I� 1980 1979
ASSETS
Cash 475 32, 953
Tem ora investments 2 682 686 2 524 8 1
II
P Y"Y 7
Taxes receivable 114, 653 ill, 885
Accounts receivable $19,691
Less: Estimated uncollectible account 5, 614 14, 077 26, 682
Due from other funds 88, 249 400, 188
Due from other governments 74, 914 81,167
Inventory of supplies 48, 578 59, 043
Prepaid insurance 4,125 1, 684
Total Assets 3, 027, 757 3, 238, 473
LIABILITIES AND FUND BALANCE
Liabilities
Vouchers payable 122, 616 126, 259
Due to other funds 133, 500 231, 408
Accrued salaries payable 125, 614 122,175
Total Liabilities 381, 730 479, 842
I �,i Fund Balance
Reserve for encumbrances 19,171 220, 420
Unappropriated fund balance 2, 626, 856 2, 538 211
Total Fund Balance 2, 646, 027 2, ?58, 631
Total Liabilities and Fund Balance 3, 027, 757 3, 238, 473
(See notes to financial statements)
This statement is an integral part of report dated May 15, 1981
'I
-38-
MOEN 8 PENTTILA, LTD.
City of Braoklyn Center
General Fund EXHIBIT 7
STATEMENT OF REVENUES, EXPENDITUR�;S AND CHANGES IN FUND BALANCE
ACTUAL (GAAP BASIS) AND COMPARISON OF BUDGETARY BASIS TO BUDGfiT (NON-GAAP)
For the Year 1980 With 1979 Actual (GAAP Basis) for Comnarison oY Actual
Y�r 198Q
Adjustment Budgetary Basis
Actual To Budgetary Budgetary Over (Under) 1979 Acfual
(GAAP Basis)
Basis
Besis Budget Bud�et (GAAP Bsaie)
Revenue
Ad valorem taxes 2,188,218 2,188,218 2,147,034 41,184 2,131,443
License and permits 195, 931 195, 931 1fi8, 000 27, 931 186, 464
Intergovernmental revenue 1,496,924 1,496,924 1;508,4'66 (11,542) 1,298,595
Charges for services 451,688 556,316 553,264 3,052 465,885
111 382 111,382 90,OU0 21,382 82,466
Court fines
Miseellaneous 300,338 i95,710 32.000 163,710 135,889
Total Revenue 4,744,481 -0- 4,744,481 E 4,498,764 245,717 4,300,682
Expenditures
Generai government 839,307 1,004 840,311 91D,042 (69,731) 688,539 I
Public safetv 1,442,619 3,513 1,446,132 1,510,972 (64,840) 1,317,98H
Streets and high ways 1,103,166 168 1,103,334 1,200,280 (96,946) 883,870
Community health aervices 37, 336 6,185 43, 521 45,000 (1, 479) 48, 576
Parks and reereation 917>224 8,088 925,312 973,977 (48,665) 851,684
Total Expenditures 4,339,652 18>958 4,358,610 4,640,271 (281,661) 3,790,607
Excess (Deficiency) of Reves►ue Over Exoenditures 404,829 (18,958) 385,871 (141,507) 527,378 510,085
Other Financin� Sources (Usea)
Appropriated Generai Fund fund balance 11, 917 E 11, 717 11, 717
Operating transfers in 434,243 434,243 472,189 (37 650,527
Insurance and other unffilocated expenditures (241,256) (213) (241,469) (342,399) 100,930 (227,486)
Tranafer to Capital Prajects Fund (490.000) (490,000) (490,000)
Total Other Financina Sources (Usea) (287,013) S 11,504 (285,508) 141,507 427,016 923,041
Excess (Deficiencv) of Rev�►ues Uver
Bxpenditures and Other Sources (Usea) S 107,816 (7 100,362 100,362 879,433
Fund Balance At Be�ir►nin�t of Year 2,758,631 2,758,631 2 1,825,505
Fund balance appropriated to budget (11, 717) (11, 717) 11, 717)
Decrease in reserve for encumbrances C220>420) 19.171 (201,249) (220>420) 19.171 (46,307)
Fund Balance At End Of Year 2,646,027 E -0- 2.646,027 2,526,499 119,533 2,758,631
(See notes to financiai statements)
This statement is an integral part of report dated May 15, 1981
�MOEN 8 PENttILA. LTD.
City Of Brooklyn Center
General Fund
STATEMENT OF REVERII� Bf�bGET AND ACTUAL EXHIBIT 8
OBJECTIVE CLASSIFICATION
For the Year 1980 With Comparative Actual For the Year 1979
1980
Actual Over 1979
Actual Bud�et (Under) Bud�et Actual
Ad Valorem Taxes
Real estate taxes 2,122,206 2,122,034 172 2,018,323
Penalties and interest 66, 012 25, 000 41, 012 113,120
Total Ad Valorem Taxes 2,188, 218 2,147, 034 41,184 2,131, 443
Licenses and Permits
Liquor and beer 54,110 68,450 (14,340)$ 54,237
Building permits 45, 893 28, 000 17, 893 43, 226
Mechanical permits 28,066 15,000 13,066 22,946
Electrical permits 14,782 9,000 5,782 13,381
Food licenses 11, 223 11, 000 223 11,151
Plumbing permits 8, 833 7, 000 1, 833 10, 410
Rental dwelling licenses 10, 681 10, 000 681 7, 588
Sewer and water permits 2, 527 3, 000 473) 5, 379
Dog licenses 3, 826 4, 000 (174) 3, 852
Swimming pool licenses 2, 773 2, 500 273 2, 573
Service station licenses 2,159 1,400 759 2, 068
Mechanical licenses 2, 715 1, 800 915 2, 065
Miscellaneous business licenses 2, 655 800 1, 855 1, 549
Garbage licenses 1, 260 1, 500 240) 1, 433
Vehicle dealer licenses 900 1, 000 (100) 998
Cigarette licenses 1, 053 1,100 47) 915
Sign permits 259 500 (241) 535
Taxicab licenses 450 500 50) 450
Bowling alley licenses 600 700 (100) 700
Lodge establishments 537 200 33? 308
All other licenses and permits 629 550 79 700
Total Licenses and Permits 195 931 168 000 27 931 186 464
Court Fines
Costs and fees 111, 382 90, 000 21, 382 82, 466
Intergovernmental Revenue
Federal grants:
Civil defense 10,149 14,057 (3,908)$ 12,670
C.E.T.A. 33,696
A.S.A.P. 299
Total Federal Grants 10,149 14, 057 3, 908) 46, 665
State grants:
Shade tree disease control 14, 560 30, 000 (15, 440) 12, 216
Other grants 3,337 3,33� 9,399
Bureau of criminal
apprehension 570 1, 000 430) 1, 305
Environmental help 2, 919 2, 919 2, 919
Total State Grants 21,386 31,000 (9,614)$ 25,839
(continued on next page) MOEN 8 PENTTILA, LTD.
-40-
City of Brooklyn Center
General Fund
STATEMENT OF REVENUE BUDGET AND ACTUAL EXHIBIT 8
OBJECTIVE CLASSIFICATION (cont'd)
For the Year 1980 With Comparative Actual For the Year 1979
1980
Actual Over 1979
Actual Budget (Under) Bud�et Actual
Intergovernmental Revenue
(Continued)
State shared taxes:
Local government aid 1,393,909 1,393,909 1,161,591
Fixed machinery tax
replacement 1,442 1,500 �58) 1,467
Police pension aid ?0, 038 68, 000 2, 038 62, 983
Total State Shared T�es 1, 465, 389 1, 463, 409 1, 980 1, 226, 041
Total Intergovernmental
Revenue 1, 496, 924 1, 508, 466 (11, 542)$ 1, 298, 545
Char�es For Services
Inter-Fund charges- administration
Public Utility Fund 80, 340 76, 000 4, 340 25, 238
Other Funds 25,838 28,000 (2,162) 1,320
Engineering and Clerical:
Special Assessments Fund
and Public Ut�ity Fund 45,168 40, 000 5,168 99, 690
General government charges 26,622 16,000 10,622 15,114
Public safety charges 6,735 5,700 1,035 5,474
ftecreation fees 371,358 387,364 (16,006) 318,868
Other services 255 200 55 181
Total Char�es for Services 556, 316 553, 264 3, 052 465, 885
Miscellaneous Revenue
Rent 17,883 10,000 ?,883 11,686
Interest earned on invest-
ments 170,799 20,000 150,799 102,245
Other 7,028 2,000 5,028 21,958
Total Miscellaneous Revenue 195, 710 32, 000 163, 710 135, 889
Other Sources
Transfers from other funds:
Federal ftevenue Sharing
Fund 256, 722 295,189 38, 467)$ 476, 364
Liquor Fund 125, 000 125, 000 125, 000
Fire Relief Association Fund 52, 521 52, 000 521 49,163
Total Other Sources 434,243 472,189 (37,946)$ 650,527
Total Revenue and Other
Sources 5.178,724° 4.970,953 207.771 4.951,219
(See notes to financial statements)
This statement is an integral part of report dated May 15, 1981
-41-
MOEN PENTTILA, LTD.
City of Brooklyn Center
General Fund
STATEMENT OF BUDGETARY-BASIS EXI'ENDITURES AND BUDGET EXHIBI'f 9
CLASSIFIED AS TO ACTIVITY CHARACTER AND OBJECT
For the Year Ended December 31, 1980 With Comparative Expenditures for Year 1979
1980 1980 Classified By Character and Object 1979
Expenditures Over (Under) Personal Contracted Capital Expenditures
Eneumbrances Budget Bud�et Services Services Commodities Other OuUays Encumbrances
General Government
Mayor and council 42,174 49,265 (7,091) 17,353 5,854 18,967 42,803
Charter commission 198 1, 500 (1, 302) 198 431
Administrative office 176, 716 188, 839 (12,123) 165, 902 9, 368 1, 146 300 171, 782
Elections and voter registration 12,443 12,065 378 3,906 6,842 1,695 4,667
Assessor's office 104,763 109,883 (5,120) 95,813 409 1,006 6,269 1,266 90>143
Accounting and internal audit 147,362 152,557 (5,195) 146,015 240 382 725 85,358
Independent audit 18,514 18,600 (86) 18,514 14,563
Legal 100,995 97,200 3,795 100,995 69,523
General government buildings 237,146 280 (42,987) 122,842 69,422 14,983 29,899 209,269
Total General Govern ment 840,311 910,042 (69,731) 551,831 2ll,842 15,989 28,459 32 688,539
Public Safety
Police protection 1,070,520 1,120,076 (49,556) 997,465 14,822 14,865 36,751 6,617 1,017,946
Fire protection 197,241 205,544 (8,303) 109,057 8,147 7,893 9,103 63,041 332,206
Protective inspection 140,267 140,282 (15) 119,182 20,313 403 369 129,588
E mergency preparedness 27 32 (4,486) 21,918 4,623 53 19 976 28,366
Animal control 10,520 13,000 (2,480) 10>520 11,419
Total Public Safety 1,446,132 1,510,972 (64,840) 1,247,622 58,425 23,214 46,237 70>634 1,519,525 I
Public Works
Engineering department 276,684 261,355 15,529 243,883 13,351 3,611 477 15,562 184,356
Street Department 481,570 570,933 (89,363) 297,412 3,558 133,161 55 97,384 403,374
Maintenance shop 246,346 266,742 (20,396) 84,956 27,964 133,426 218,263
Street lights, traffic signals and weed control 98,534 101,250 (2,716) 98,534 88>111
N Total Public Works 1,103,334 1,200,280 (96,946) 576,251 143,407 270,198 53i 112,946 894,104
Community Health Services
Health regulation 30,695 31,000 (305) 30,695 26,732
Detached worker program 12,826 14,000 (1,174) 12,826 21,894
Total Community Health Services 43,521 45,000 Q1,479) -0- 43,521 -0- -0- -0 48,576
Parks and Recreation
Supervision and recreation 145,448 149,131 (3,683) 119,476 18,835 6.6G3 474 128,536
A dult programs 89,755 86,125 3,630 1,739 47,078 34,823 6,115 79,236
Teen programs 6,696 11,979 (5,283) 2,266 1,876 1,414 12,904
Children programs 97,467 46,325 1,142 18,092 19,052 8,69G 1,627 41,093 i,
G eneral programs 48,207 48,853 (646) 23,485 23,537 1,1R5 39,531
Community Center 282,383 274,685 7,698 148,346 61,775 32,549 27,500 12,213 278,754
Park maintenance and improvements 305,356 356>879 (51,523) 202,318 23,031 26,468 8,726 94,813 280,279
Total Parks an d Recreation 925,312 973,977 {48,665) 515,722 195,184 111,529 45,856 57,026 860,283
hliscellaneous
Expenditures not allxated to departments 241,469 342,399 (100,930) 196,238 23,322 21,909 227,486
Total Nliscellaneous 241,469 342>399 (100,930) -0- 196,238 23,322 21,909 -0- 2'17,486
Totals 4,600,079 9 (382,591) 2,891,426 848,617 444,297 I42,993 272,796 4,238,513
(See notes to financial statements)
This statement is an integral part of report dated May 15, 1981
MOEN 8 PENTTILA, LTD.
SPECIAL REVENUE FUNDS
SPECIAL REVENUE FUNDS
Special Revenue Funds are used to account for revenues derived from
specific taxes or other earmarked revenue sources. They are usually re-
quired by statute, charter provision, or local ordinance to finance parti-
cular functions or activities of government.
i
City Of Brooklyn Center
Special Revenue Funds EXHIBIT 10
COIVIBINING BALANCE SHEET
December 31, 1980
With Comparative Totals for December 31; 1979
Federal Anti-Recession Diseased
Revenue Sharing Fiscal Aid Tree Removal Totals
Fund Fund Eund 1980 1979
ASSETS
Temporary investments 450,483 1,823 7,690 459,996 670,078
Accounts receivable 2,149 2,149 3,143
Taxes receivable:
Special assessments:
Deferred 7,695 7,695
Due from other funds 5,670 5,670 6,300
D ue from other govern ments 51,420 6,570 57,990 73,061
Total Assets 501,903 1,823 29,774 533,500 752,582
LIABILITIES AND FUND BALANCE I
Liabilities
Vouchers payable 13 13 341
Contracts payable 11,118 11,118 5,400
Due to other funds 30>457 4,885 35,342 289,185
Total Liab�lities 30,457 -0- 16,016 46,473 294,926
w Fund Balances
Appropriated 182,268 182,268 286,077
Unappropriated 289,178 1,823 13,758 304,759 171,579
Total Fund Balances 471,446 1,823 13,758 487,027 457,656
Total Liabilities and Fund Balance 501,903 1,823 29,774 533,500 752,582
(See notes to financial statements)
This statement is an integral part of report dated May 15, 1981
MOEN 8 PENTTILA, LTD.
City Of BrooklYn Center
Special Revenue Funds EXHIBIT 11
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
Year Ended December 31, 1980 With Comnarative Total For Year 1979
Federal Anti-Recession Diseased
Revenue Fiscal Aid Tree Removal Totals
Sharin� Fund Fur_d Fund 1980 1979
Inter�overnmental Revenue
Federal grants:
Federal Revenue Sharing 214,579 214,579 219,671
State grants:
Department of Agriculture 31,734 31,734 24,448
Total Inter�overnmental Revenue 214, 579 -0- 31, 734 246, 313 244,119
Char�es for Services
Diseased tree removal fees 17,494 17,494 18,613
Administrative charges 1, 550 1, 550 1, 320
Total Charges for Services -0- -0- 19,044 19,044 19,933
Miscellaneous Revenue
Interest on investments 63,213 148 1>315 64,676 66,537
Special assessments ordered 6,279 6.279
Total Miscellaneous Revenue 63,213 148 7,594 70>955 66,537
Total Revenue 277,792 148 58,372 336,312 300,589
Expenditures
C ontracted services 376 35,874 36,250 28,710
Refunds 13>970 13,970 4,116
Total Expenditures 376 -0- 49,844 50,220 32,826
Excess (Deficit) of Revenue Over Exnenditures 277.416 148 8, 528 286, 092 297, 763
Other Financing Sources (Uses)
Transfers to General Fund (256,721) (256,721) (488,200)
Transfers from General Fund 5,400
Excess (Deficit) of Revenues Over Exnenditures and
Other U ses 20,695 148 8,528 29,371 (185,037)
Fund Balance January 1 450,751 1,675 5,230 457,656 642,693
Fund Balances December 31 471,446 1,823 13,458 487 457,656
APpropriated 182,268 182,z68 286,077
U nappropriated 298,178 1,823 13,758 304,759 171,579
(See notes to financiai statements)
This statement is an integral part of report dated May 15, 1981
MOEN 8 PENTTILA, LTD.
DEBT SERVICE FUNDS
DEBT SERVICE FUNDS
Debt Service Funds are created to account for the payment 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 a
governmental enterprise.
Cit,y Of Brooklyn Center
Debt Service Funds EXHIBIT 12
COMBINING BALANCE SHEET
December 31, 1980
With Comparative Totals for December 31, 1979
State Aid Improvement Fark Bonds
Park Library Street and Building of Totals
Bonds Bonds Bonds $onds 1980 1980 1979
ASSETS
Temporary Investments 111,512 81,519 2,774 185,983 6,775 388,563 341,885
Due from other funds qzg
Ta�ces receivable 1,248 13,917 15,165 21,15?
Total A sse!s 112,760 81,519 2,774 199,900 6,775 403,728 363,471
LIABILITIES AND FUND BALANCE
Fund balances 112,760 81,519 2,774 199,900 6,775 903,728 363,471
Total Liabilities and Fund Balances 112,760 81,519 2,774 199,900 6,775 403,728 363,471
i
I
I
c
I
(See notes fio financial statements)
This statement is an integral part of report dated May 15, 1981
i
MOEN 8 PENTTILA, LTD.
I
City Of Brooklyn Center
Debt Service Funds EXHIBIT 13
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND $ALANCES
Year Ended December 3i, 1980
With Comparative Totals for Year Ended December 31, 1979
State Aid Improvement Park Bonds
Park Library Street and Building of Totals
B�ds Bo�ds Bands Bonds 1980 1980 1979
Revenues
General property taxes 16,504 212,251 228,755 254,000
Interest on investments 9,318 7.563 16,668 6,775 90 28,774
Total Revenue 25,822 7,563 -0- 228,919 6,775 269,079 282,774
Expenditures
Principal pay ments 15,000 10,000 55,000 115,000 195,000 210,000
Interest paid 665 1,900 44,546 87,100 134,211 146,905 I
Fiscal agent fees 100 21 144 252 517 593 I
Other 141 853 1,417 2,411 309
Total Expenditures 15,906 11,921 100 203,769 -0- 332,139 357,807
Excess (Deficit) of Revenues
O ver Expenditures 9,916 <4,358) (100,543) 25,150 6,775 (63,060) (75,033)
Other Financin� Sources (Uses)
Permanent transfer from
Municipal State Aid Fund 103, 317 103, 317 103, 689
Excess (Deficit) of Revenue and
Other Sources Over Expenditures
and Other Uses 9>916 (4,358) 2 25,150 6,775 40,257 28,656
Fund Balance January 1 102,844 85,877 179,750 363,471 334,815
Fund B alance December 31 112,760 81,519 2,774 199,900 6,775 403,728 363,471
(See notes to financial statements)
This statement is an integral part of report dated May 15, 1981
MOEN 8 PENTTILA, LT0.
CAPITAL PROJECTS FUNDS
CAPITAL PROJECTS FUNDS
Captial Projects Funds are created to account for all resources used for the
acquisition of capital fac�lities by a governmental unit except those finan-
ced by special assessment and enterprise funds.
City Of Brooklyn Center EXHIBIT 14
Capital Projects Funds
COMBINING BALANCE SHEET
December 31, 1980
With Comoarative Totals for December 31, 1979
Open-Space Capital Community Municipal
Lawcon Acquisition Projects Development State Aid for Totals
Fund Fund Fund Block Grant Construction 1980 1979
ASSETS
Temporary investments 469,330 2,104 989,990 10,931 1,907,423 3,379,778 2,584,875
Due from other fun ds 4,359 896,619 187,588 1,088,566 95,060
D ue from other govern ments 251,657 282,264 282,853 816,774 1,788,940
Total Assets 725,346 2,104 1,886,609 293,195 2,377,864 5,285,118 4,468,875
LIABILITIES AND FUND BALANCE
Liabilities
Accounts payable 45,805 14,213 60,018 41,705
Contracts payable 516,055 10,745 526,800 341,222
Due to other funds 704,855 9,370 248,745 126,956 1,178,926 94,827 I
D ue to other govern ments 45,233 48,233
Accrued salaries payable 164
Temporary loan 586
Total Liabilities 704,855 -0- 660,230 248,745 200,147 1,813,977 478,504
Fund Balance
Unexpended appropriations 697,213 113 810,840 928,302
B alance restricted to State-approved projects 1,283,864 1,283,864 1,853,875 I
U nappropriated balances 20,491 2,104 529,166 44,450 780,226 1,376,437 1,208,194
Total Fund Balance 20,491 2,104 1,226,379 44,450 2,177,717 3,471,141 3,990,371
Total Liabilities and Fun d Balances 725,346 2,104 1,886,609 293,195 2,377,864 5,285,118 4,468,875
I
(See notes to financial statements) i
I
This statements is an integral part of report dated May 15, 1961
MOEN 8 PENTTILA, ITD.
City Of Brooklyn Center
Capital Prnjects Funds EXHIBIT 15
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
Year Ended December 31, 1980
With Comparative Totals For Year Ended December 31, 1979
Open-Space Capital Community Municipal
Lawcon Acquisition Projects Development State Aid For Totals
Fund Fund Fund Block Grant Construction 1980 1979
Revenuea
Intergovernmental:
County grant 25,929
Federffi grants 366,028 366,028 936,736
State shared gasoline taaces 388,211 388,211 365,368
State grants 234,135 234,135 126,574
Interest on investments 10,935 171 52,107 163 181,360 244,736 210,796
Other 4,880 I
Total Revenues 611,098 171 52,107 163 569,571 1,233,110 1,670,283
Expenditures
Personal services 66,250 7,641 475 74,366
Commodities 65, 835 241 66, 076
Contracted services 544,536 33,897 34,968 612,901 I
Capital ouUays 1,399,937 331 1,055,933 2,456,201 638,234 I
Total Expenditures -0- -0- (2,076,558) 42,110 1,090,876 3,209,544 638,234
Excess of Revenues Over (Under) Expenditures 611,098 171 (2,024,451) (91,947) (521,305) (1,976,434) 1,032,049
Other Financin� Sources (Uses)
Transfer to State Aid B onds Debt Service (76,467) (76,467) (76,839)
Transfers Lawcon Fund (600>162) 600,162 (43,250)
Transfers Community Development Fund 193, 000 (193, 000) 40, 000
Transfer in General Fund 990, 000 490, 000
Sale of bon ds 1,500,000 1,500,000
Sale of assets 67.,100 67,100
Unexpended appropriations transferred to other funds (523,429) (523,429)
Totffi Other Financing Sources (Uses) 1,123,591 -0- 2,850,262 (193,000) (76,467) 1,457,204 (80,089) i
Exceas of Revenues Over (Under) Expenditurns
and Other FinancinQ Sources (U ses) (512,493) 171 825,811 (234,947) 97,772) (519,230) 951,960 I I
Fund Balence January 1 532,98A 1,933 400,568 279,397 2,775,489 3,990,371 3,038,411
Fund B alance December 31 20,991 2,104 1,226,379 44,450 2,197,717 3,471,141 3,990,371
n x ed Aonron�.__tiona 69Z 213 113.627 510. $g0 9�8.302
Restricted B alance ��.2R3.869 1.283.864 1.853.875
Unanoroot7 Batance S 20.491 2 .104 529.166 44.450 S 78 0.226 1.376.437 S 842.870
(See notes to financial statements)
This statement is an integral part of report dated May 15, 1981
MOEN 8 PENTTILA, LTD.
I
i
City Of Brooklyn Center
Capital Pmjects Fund SCHEDULE S-1
PROJECT-LENGTH SCHEDULE OF CONSTRUCTION PROJECTS
Frnm Be�innin� To December 31, 1980
Sources of Fundin�
Comaunity
Project Bond Lawcon Development Appropriated
Project Authorization Proceeds Grants Grants Fund Balance Other Total Expenditures
Palmer Lake Basin 102,500 102,500 102,500
Park bonding cost 51,838 51,838 51,838 17,305
Municipal garage service entry 4,960 4,960 4,960 4,960
Central Park III 489,802 404,802 85,000 489,802 9,300
A rboretum 210,000 210,000 210,000 173,977
CEAP services 144,000 144,000 144,000 144,000
City hall elevator 65,000 65,000 65,000 52,480
Garden city park shelter building 59,000 24,00� 35,000 59,000 66,475
Neighborhood parks 818,560 730,560 88,000 818,560 679,215
Shingle creek tra�lway II 197,20(i 300 177,210 19,690 197,200
Central Park II 191,257 95,628 40,000 7,815 47,814 191,257 283,316
B rooklane park shelter 25,OOU 25,000 25,000 47,902
Salt storage building 58,000 58,000 58,000 71,643
Shingle creek relocation 70,000 70,000 70,000 30,974
Shingle creek trailways 143,900 129,510 14,390 143,900 146,675
Central park I 200,000 150,000 50,000 200,000 239,216
Civic center access 160,029
Traffic signal -#252 73rd Ave. No. 110,377 110,377 110,377 116,714
Swimming pool deck tiling 30, 540 30, 540 30, 540 30, 540
1,500,000 552,348 193,000 533,395 193,191 2,971,934 2,279,721
*Project authorized, amount not stated.
Total Appropriations 2,971,934
Less: Expenditures 2,274,721
Onexpended AQpropriations 697, 213
MOEN 8 PENTTILA, LT0.
1
City Of Brooklyn Center
Municipal State Aid Construction Fund SCHEDULE S-2
PRQJECT-LENGTH SCHEDULE OF CONSTRUCTION PROJECTS
From Beginning To December 31, 1980
Project
Number A ropriation Expenditures
Traffic signals T.H .#152 589-29 4, 372
Traffic signals T. H. #152 592- 71 15, 981 12, 689
Pedestrian bicycle bridge over T, H.100 77-10 350, 024 361, 314
Storm sewer-53rd Ave. No. 79- 02 63, 660 57, 415
Curb, gutter sidewalk-53rd Ave. No. 78-39 122,548 122,548
Sidewalk bituminous 79- 09 10, 841 12, 968
Street 78-06 216,450 216,450
Street ?8-38 231,602 231,602
Street 78-44 11,203 11,203
Street 78-45 116,761 117,013
Street 78-46 91,470 356
Street ?9-05 81,163 81,163
Street 79-10 88,840 89,081
Sidewalk-Summit Drive 80-03 38,170 29,621
Improvements 80-07 7,311 G6,460
Sidewalk-Irving Lane 80-14 5, 432 3, 641
Sidewalk-John Martin Drive 80-15 13, 000 7, 428
Channelize interfection-T H #152
65th Avenue No. 600-97 3, 038 2, 916
Pedestrian bridge over T. H. 100-Design 80- 06 23 300 4, 364
Traffic light-T H. 100 65th Ave No. 600-42 41, 870
Traffic light- T. H. 100 France Ave 598- 78 4, 823
Totals 1, 54Z, 859 1, 428, 232
Total Appropriations 1, 541, 859
Less Expenditures 1, 428, 232
Unexpended Appropriation 113, 627
1
50-.
MOEN PENTTILA, LTD.
SPECIAL ASSESSMENT FUNDS
Special Assessment Funds are employed to finance and account for the
construction and financing of certain public improvements such as resident-
ial streets, sidewalks, or storm sewers or the provision of services which are
to be paid for wholly or in part from special assessments levied against
benefited property. The fact that special assessment improvements are paid
for completely or in part by property owners in a limited geographical area
deemed to be specially benefited distinguishes them from irtiprovements
which benefit the entire community and which are paid for out of general
revenues or through the issuance of general obligation bonds.
Ci Of Brookl n Center
ty y
Special Assessment Funds
COMBINING BALANCE SHEET
December 31, 1980
With Comparative Totals for December 31, 19 9
Bond #1 1955A 1956AC 1956B 1957AB 1958A 1958B 1959AB
ASSETS
Temporary investments 2, 553 87, 022 170, 434 18, 068 43, 475 130,109 108, 389 39, 052
Accounts receivable
Special assessments receivable:
Delinquent 357 73 88 353 l, 863 7, 554
Deferred
Tax forfeit land 74 70 8 344
City share of improvements
Due from other funds
Due from other governments 497
Bond discounts
Authorization to assess for construction in progress
Total Assets 2, 627 87, 379 170, 577 18, 068 43, 563 130, 470 110, 609 47, 478 I
LIABILITIES AND FUND BALANCES
Liabilities I
Accounts payable
Contracts payable
Due to other funds
Construction loans payable I
Accrued interest payable
Bonds payable �I
Total Liabilities 0- 0- 0- 0- 0- 0- 0- 0-
Fund Balances
Debt Service 2,627 87,379 170,577 18,068 43,563 130,470 110,609 47,478
Unex ended a ro riations
P PP P
Total Fund Balances 2, 627 87, 379 170, 577 18, 068 43, 563 130, 470 110, 609 47, 478
Total Liabilities and Fund Balance 2, 627 87, 379 170, 577 18, 068 43, 563 130, 470 110, 609 47, 478
(See notes to financial statements)
This statement is an integral part of report dated May 15, 1981
-51-
MOEN PENTTILA, LTD.
EXHIBIT 16
Construction Totals
1960A 1961AB 1963A 1965A 1966A 1969A 1970 1973 1976 Fund 1980 1979
263,606 420,045 320,705 91,083 143,655 93,423 377,898 158,474 436,612 2,904,603 2,677,240
32,987 32,987 37,549
9,250 1,353 948 1,017 2,040 1,214 85,986 32,421 41,899 12,421 189,808 345,775
10,334 18,655 27,726 28,959 74,566 122,455 495,973 221,638 500,726 224,746 1,735,195 2,075,093
158 402 798 989 2,843 2,843
28,145 78,786 39,383 12,778 159,092 189,741
223,163 223,163 15,380
290 651 45,037 46,475 1,439
12,314 2,877 15,191 17,805
1,546,860 1,546,860 2,072,300
283,638 441,106 349,379 121,059 221,059 217,092 1,000,316 495,185 1,018,620 2,097,992 6,856,217 7,435,165
24,743 24,743 285,219
245,228 245,228 348,283
109,200 109,200 113,499
t 126,000 1,803,423 1,929,423 811,000
48,131 104,683 152,814 102,996
90,000 75,000 50,000 150,000 180,000 705,000 335,000 740,000 2,325,000 2,805,000
-0- 90,000 75,000 50,000 150,000 180,000 705,000 335,000 914,131 2,287,277 4,786,408 4,465,997
283,638 351,106 274,379 71,059 71,059 37,092 295,316 160,185 104,489 32,283 2,291,377 2,022,278
(221,568) (221,568) 946,890
283,638 351,106 274,379 71,059 71,059 37,092 295,316 160,815 104,489 (189,285) 2,069,809 2,969,168
283,638 441,106 349,379 121,059 221,059 217,092 1,000,316 495,185 1,018,620 2,097,992 6,856,217 7,435,165
MOEN PENTTILA, LTD. 52
City Of Brooklyn Center
Special Assessment Funds EXHIBIT 17
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
Year Ended December 31, 1980
Excess Of
Revenues Expenditures Revenues Fund Fund Balance
Interest On Interest On Bond Paying Taxes Over (Under) Balance December 31,
Fund Total Assessments Investments Other Total Interest Agent Fees Written Off Other Expenditures January 1 1980
Bond Fund #1 208 208 9 9 199 2,428 2,627
1955A 7,067 7,067 29 29 7,038 80,341 87,379
1956A C 13,808 2 13,806 225 225 13,583 156,994 170,577
1956B 1,470 1,470 1,470 16,598 18,068
1957AB 3,506 3,506 65 65 3,441 40,122 43,563
1958A 10,574 10>574 62 62 10,512 119,958 130,470
1958B 8,920 169 8,751 8 101,689 110,609
1959AB 4,789 648 4,141 747 675 72 4,042 43,436 47,478
1960AB 28,330 2,784 25,546 3,490 2,790 180 520 24,840 258,798 283,638
1961AB 39,562 1,979 37,583 6,054 5,210 175 669 33,508 317,598 351,106
1963A 29,492 2,133 27,359 3,554 3,400 32 122 25,938 248,441 274,379
1965A 9,534 1,874 7,660 2,302 2,280 22 7,232 63,827 71,059
1966A 18,050 4>643 13,407 9,646 8,950 39 1,157 8 62,655 71,059
1969A 18,801 10,274 8,527 15,328 13,325 58 1,945 3,473 33,619 37,092
1970 82,192 98,789 33,403 56,378 53>245 208 741 2,184 25,814 269,502 295,316
1973 34,567 19,529 15,038 19,697 18,469 39 759 430 14,870 145,315 160,185
1976 77,327 96,555 30,772 33,795 33,709 71 15 43,532 60,957 104,489
Conetruction 826,055 24,202 801,853 1,962,230 1,962,230 (1,136,175) 946,890 (189,285)
(Schedule S-4)
Totals 1980 1,214,252 163,581 298,818 801,853 2 141,553 896 6,303 1,964,859 (899,359) 2,969,168 2.069,809
w Totals 1979 372,190 176,118 196,072 202,916 176,552 945 3,900 21,519 169,274 2,119.068 2,969,168 I
I
II I
i
(See notes to financial statements)
This statement is an integral part of report dated May 15, 1981
i
I
i
I
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MOEN 8 PENTTILA, LTD.
City Of Brooklyn Center
Special Aaseasment Funds SCHEDULE S-3
PROJECT-LENGTH SCHEDULE OF CONSTROCTION PROJECTS
Be�inning of Projects to December 31, 1980
Sources
Project Approved-Source
Type of Project Number Appropriated Not Stated Total Expenditures
Curb and gutter 78-02 7,500 2>529 10,029 10,029
Water main 78-03 8,500 53 8,553 8,553
Shingle creek bridge 78-06 721,500 721,500 701,192
Curb and gutter 78-44 65,690 15,301 80,991 80,991
Street 78-33 17,600 17,600 13,363
C urb and gutter 78-34 13,000 13,000 12,373
Street 78-36 29,100 24,100 15,120
Curb an d gutter 78-37 35,500 35,500 28,252
Street surface 78-38 505,224 505,224 991,181
C urb, gutter an d sidewalk 78-39 208,393 208 201,400
Street, curb, gutter and sidewalk 78-45-46 517,600 449,566 967,166 967,166
Water main improvement 79-01 33,064 640 33,704 33,704
Storm sewer 79-OS 144,800 144,800 130,987
Storm sewer 79-02 112,151 19,278 131,429 131,429
Street improvement 79-06 80,700 24,185 24,185 I
Street surface 79-08 24,185
Street 80-01 58,400 58,400
Curb and gutter 80-02 31,500 29,431 60,931 60,931
Storm sewer 80-24 280,850 280,850 10,000
U nallocated 92,898 92,898 92,898
2,866,072 633,881 3,499,953 3,087,640 I
Appropriations 2,866,072
Expenditures 3, 087, 640
Unexpended Appropriations S t Zzl, 568)
MOEN 8 VENTTILA, lTQ
i
City Of Brooklyn Center
Construction Fund Revenue and Ex�enditures SCHEDULE S-4
Year Ended December 31, 1980
Revenues
Debt Service:
Interest on assessments 24,202
Other 8,081
Total Debt Service 32, 283
C onstruction
Assessments levied 32,109
Reimbursements:
Other cities 447, 912
Developers 68, 317
Other 37,651
585,989
Other Sources;
Transfers from other funds 207, 783
Total Construction 793, 772
Tota1 Revenue 826, 055
Expenditures
Streets 1,633,682
Storm sewers 140,153
Water ,assets 33, 704
Bridges 42, 079
Unallocated 112, 612
Total Expenditures 1, 962, 230
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1
-55-
MOEN 8 PENTTILA, LTD.
ENTERPRISE FUNDS
Enterprise funds are established to account for the financing of self-sup-
porting activities of governmental units which render services on a user
charge basis to the general public. The most universal type of government
enterprise is the public utility engaged in the provision of such basic serv-
ices as water, electricity, and natural gas. Sanitary sewer systems financed
by user charges have also assumed the status of public utility operations
in many urban areas, and many cities have combined water and sewer
systems under the same management. Another type of government enter-
prise in Minnesota is the Municipal Liquor operation.
City Of Brooklyn Center
Enterprise Funds
CONIBINING BALANCE SHEET EXHIBIT 18
December 31, 1980
With Comparative Totals for December 31, 1979
Municipal Public Municipal Public
Liquor Utilities Totals Liquor Utilities To#als
Fund Fund 1980 1979 Fund Fund 1980 1979
ASSETS LIABILITIES CONTRIBUTIONS
Current Assets AND RETAINED EARNINGS
Cash on hand 3,900 3,900 3,700 Curreart L3apurties
Temporary investments 37,499 1,635,955 1,673,454 952,296 Accounts payable 117,659 39,171 156,830 108,1$2
Accounts receivable 2,451 106,344 108,795 105,653 Due to other funds 39 1,143 1,182 13,846
Less: Allowance for estitnated Accrued liabilities 19,399 6,834 26,233 25,169
uncollectible (2,014) (2,137) (4,151) (7,528) Current portion of long-term debt 35,000 35,000 35,U00
Assessments receivable 10,125 10,125 16,949 Hydrant deposits 400 400
Due from other fun ds 64 902 966 586
Due from other governments 51,359 5I,359 60,888 Total Current Liabilities 137,097 82,548 219,645 182,197
Inventories:
Materials and supplies 17, 470 17, 470 19, 594 Loa�g-Term Liab�lities
Merchandise for resale 261,185 261,185 226,181 Revenue bonds (N ote 3) 520,000 520,000 555,000
r ex enses 0 35 000 35 000
P epaid p Less: C urrent portion 35,00
M.W.C.C. charges 46,462 46,462 39,893
Memberships 200 Totsl Lon�-Term Liabilities -0- 485,000 485,000 520,000
Rent 3,032 3,032 3,032
Insurance 32 32
Maintenance 2, 554 2, 554 Contributions Taward Construction
Accrued water sewer revenue 144,375 144,375 131,629 Special assessments and 10,101,350 10,101,350 10,021,876
developers
Total C urrent Assets 308,703 2,010,855 2,319,558 1>552,573 Total Contributions $.-0- 10,101,350 10,101,350 10,021,876
Aestricted Assets Deferred Credits
Lawsuit Setflement receivable 1,402 Ga9n on sale oi assets(N ote 9) 65,697 65,697 68,981
Temporary investments (N otelE 3,777,213 3,777,213 3,601,017 Metro Waste Control C ommission
llue from other governments (N ote 4) 246,242 246,242 254,590
M.W.C.C. (Note 4) 246,242 246,242 254,590
Debt retirement account Total Deferred Credits -0- 311,939 311 323,571 I
(Note 3) 131,485 131,485 132,850 I
A ssessments receivable-deferred 111,128 111,128 116,064 Retained Earnings I
Construction funds invested 82,982 82,982 76>230 Reserved: I
Total Restricted Assets -0- 4,349,050 4,349,050 4,182,153 Debt retirement 131,485 131,485 132,850
Construction Funds (Note 3) 82 82,982 76,230
Working capital 20, 000 20, 000 20, 000
Fixed Assets Unreserved:
Mains and lines 30,562,673 10,562,673 10,452,875 Designated for plant expansion 3,777,213 3,777,213 3,601,017
S4ructures 1,914,081 1,914,081 1,913,636 Undesignated 210,355 1,357,071 1,567,426 936,211
Equipment 111,524 270,463 381,987 367,567
Land 24,816 24,816 23,621
Land imprnvements 5,898 5,898 5,898 Total Retained Earnin �s 210,355 5,368,751 5,579,106 4,766,308
Leasehold improvements 28,799 z8�799 Z$
Construction work in process 10, 096 10, 096
146,221 12,782,129 12,928,350 12,792,396
Less: Allowance for depreciation 107,472 2,792,446 2,899,918 2,713,170
Total Fixed Assets 38,749 9,989,683 10,028,432 10,079,226
Tpt&1S 347.452 16.349.588 16,697,040 15,813,952 Totals 347,452 16,349,588 16,697,040 15,813,952
(See notes to financial statements)
This statement is an integral part of report dated May 15, 1981 i
MOEN 8 PENTTILA, LTD. �I�
CitY Of Brooklyn Center
Enterprise Funds EXHIBIT 19
COMBINING STATEMENT OF OPERATIONS AND RETAINED EARNINGS
For th� Year Ended December 31, 1980
With Comparative Totals for the Year Ended December 31, 1979
Municinal Liquor Fund Public Utiliries Fund
B rooklyn
Humboldt Boulevard Northbrook Water Sewer Total
Square Store Store Siore Total Department Department Total 1950 1979
Sales and Cost of Goods Sold
Sales 667,949 819,803 916,627 2,404.379 2,404>379 2,289,879•
Less: Cost of sales 544,090 675,421 S 749,753 y 1,969,26A 1,969,264 1,867,249
Trade discounts (6,895) (10,145) (ll,930) (28,970) (28,970) (28.246)
537,195 665,276 737,823 1,940,284 1,940,294 1,839,003
Gross Mar�in 130,754 154,529 178,809 464,085 464,085 450,871
Operating Revenue
Service to consumers 507,431 941,180 1,448,611 1 1,150,775
Service hookup charges 25,974 3,228 29,202 25,974 22,795
Sale of water meters (3,744) (3,744) (3,744) (5,404)
Penalties 1,333 1>333 1,333 6,844
Other 264 4,236 4,500 4,500 14,889
Total Operatinp Revenue 531,258 948,644 1,479,902 1,979 1,189,899 I
Operatin� Expenses I
Total Operating Expenaes 104,359 97,829 128,012 330,200 407,827 718,591 1,126>418 1,456,618 1,304>596
Operatin� Income (Losa) 26,395 56,698 50,792 133,B85 123,431 230,053 353,484 487>369 336,174
Other Revenue
Interest earned: 6,265 6,265
Investments 434,851 434,851 357,155
Special assessments 9,020 9,020 16,135
Metro Waste Control Commission 8,183 8,183 10,088
Construction funds 6,752 6,752 5,932
Miscellaneous 2,306 11,632 13,938 6,608
Total Other Revenue 8 470,438 479,009 398.918
Other Exnenses
Interest and fiscal agent fees 21,710 21,7�0 23,078
Miscellaneous 6,870 6,870 90
Total Other Expenses 28,580 28,580 23,168
N et Income to Retained Earnings 142,456 795,342 937,798 ?08,924
Retained Earnin�s January 1 192,899 4,573,409 4,766,308 4,174.420
Transfers
To General Fund (125, 000) (125, 000) (125, 000)
From Metro Waste Contrd Commission Reserves 7,964
Total Transfers (125,000) (125„000) (117,036)
n s December 31 210,355 5,368,751 5,579,106 4,766>308
$.��1 '}ie.d._Fa�_R'
(See notes to financial statements)
This statement is an integral part of report dated May 15, 1981
MOEN 8 PENiTILA, LiD.
City Of Brooklyn Center
Municipal Liquor Eund EXHIBIT 20
COMPARATIVE STATEMENT OF LIQUOR OPERATING EXPENSES
Humboldt Brooklyn For the Year Ended
Square Boulevard Northbrook December 31,
Store Store Store 1980 1979
Operating Expenses
Salaries and wages 49,137 58, 755 64,130 172, 022 173, �70
Rent 18, 437 17, 686 36,123 35, 984
Payroll taxes 5,498 5,348 5,425 16,271 14,051
Utilities 4, 871 2, 957 5, 451 13, 279 11, 027
Depreciation and amortization 4, 048 1, 585 4, 918 10, 551 8, 781
Insurance 6,284 7,927 8,114 22,325 21,330
Supplies 2,210 3,206 3,948 9,364 8,174
Equipment rent 10,103
Repairs and maintenace 2, 525 1, 033 956 4, 514 4, 748
Professional services 913 913 913 2, 739 3, 322
Heating 1, 016 1, 361 1, 444 3, 821 4, 034
Provision for uncollectible checks
and cash short 483 325 308 1,116 2, O11
o Laundry 391 502 530 1, 423 1, 282
Protection services 522 579 759 1,860 1,746
Inventory variances and breakage (1, 475) 1,150 525 200 1, 388
Telephone 366 375 374 1,115 733
Advertising 214 189 190 593 295
Miscellaneous 108 148 90 346 112
Taxes and licenses 23 18 18 59 69
Administrative services 6, 558 8, 744 8, 987 24, 289
Other contracted services 812 842 864 2,518
Data processing 1,418 1,872 2,382 5,672
Total Liquor Operating Expenses 104, 359 97, 829 128, 012 330, 200 302, 360
I
(See notes to financial statements)
This statement is an integral part of report dated May 15, 1981
City Of Brooklyn Center
Public Utilities Fund EXHTBIT 21
COMPARATIVE STATEMENT OF WATEft OPEftATING EXPENSES
Classification by Funetion For the Year Ended
Source of Customer December 31,
Supply Transmission Administration Accounting 1980 1979
Depreciation 52,935 56,065 109,000 106,41?
Labor 21,192 28,521 39,983 19,254 108,950 106,964
Electricity 63, 276 63, 276 4 i, 586
Repairs and maintenace 4, 402 2, 874 520 281 8, 077 5, 985
Materials and supplies 15, 853 7, 634 3, 729 829 28, 045 22, 305
Rent and administration 34, 015 34, 015 16, 054
Equipment rentals 16, 313 16, 313 7, 399
Payroll taxes 7, 854 7, 854 10, 743
Postage 78 7, 672 7, 750 8,170
Professional fees 13,491 13,491 1,162
Insurance 2,308 2,308 4,122
Employee benefits 3, 972 3, 972 3, 740
Fuel-Heating 3, 009 3, 009 4, 483
Printing 341
Schools and conferences 150 150 223
Small tools and equipment 332 332 1, 500
Miscellaneous 1, 285 1, 285 1, 621
157,658 95,426 126,707 28,036 407,827 348,815
(See notes to financial statements)
This statement is an integral part of report dated May 15, 1981
C ity Of B rooklyn C enter
Public Utilities Fund EXHIBIT 22
CONIPARATIVE STATEMENT OF SEWEft OPERATING EXPENSES
Classification By Funetion For the Year Ended
Disposal and Customer December 31,
Pumpin� Transmission Administration Accountin� 1980 1979
Depreciation 22, 975 48, 463 71, 438 71, 402
tVletro Waste Control Commission
Charge (Note 4) 502, 830 502, 830 470, 334
Labor 11,755 13,311 14,092 63 39,221 52,303
Rent and administration 34, 015 34, 015 16, 054
Equipment rental 16, 358 16, 358 7, 365
Electricity 9,484 9,484 8,017
Payroll taxes 7, 854 7, 854 6, 766
Repairs and maintenance 360 412 368 1,140 3, 415
Professional fees 3, 668 1, 583 5, 251 1,149
Postage 1,790 1,790 2,176
Materials and supplies 35 1,122 3, 391 93 4, 641 4, 527
Insurance 7,305 7,305 3,130 I
Employee benefits 2, 670 2, 670 2, 791
a Small tools and equipment 200 200 2, 008 I,
Fuel-heating 237 237 366
Miscellaneous 76 201 222 499 1, 618
Payments to other cities
for services 13,658 13,658 i
Total Sewer Operatin� Expenses 565, 078 63, 709 87, 858 1, 946 718, 591 653, 421
I
(See notes to financial statements)
This statement is an integral part of report dated May 15, 1981
City Of Brooklyn Center
Enterprise Funds
COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION EXHIBIT 23
For the Year Ended December 31, 1980
With Comparative Totals for the Year Ended December 31, 1979
Municipal Public
Liquor Utilities Totals
Fund Fund 1980 1979
Sources of Financial Resources
Operations
Net income for year 142, 456 795, 342 937, 798 708, 924
Add: Items not requiring curren# outlay
of resources
Depreciation 10, 552 180, 438 190, 990 187, 600
Total Resources Provided By Operations 153, 008 975, 780 1,128, 788 895, 524
Collections of other receivables 1,864
Debt retirement investments sold 1, 365 1, 365 1, 574
Contributions toward construction 79, 474 79,474 9, 085
Decrease in assessments receivable-deferred 4, 936 4, 936 1, 967
Decrease in M. W. C. C. receivable 8, 348 8, 348 964 j
Decrease in settlement receivable 1, 402 1, 402
Totals 154,410 1,069,903 1,224,313 917,978
U ses of Financial Resources
Purchase of properties 416 139, 780 140,196 70, 075
Payments to retire bonds 35, 000 35, 000 35, 000
Decrease in lawsuit deferred credit 3, 266
Increase in working capital 28, 994 700, 543 729, 537 538, 268
Increase in restricted investments 176,196 176,196 137,152
Transfers to General Fund 125, 000 125, 000 125, 000
Amortization of deferred gain on sale of assets 3, 284 3, 284 3, 285
Construction funds invested 6, 752 6, 752 5, 932
Amortization of Metro Waste Control
Commission deferred credit 8, 348 8, 348
Totals 154,410 1,069,903 1,224,313 917,978
(See notes to financial statements)
This statement is an integral part of report dated May 15, 1981
TRUST AND AGENCY FUNDS
Trust and Agency Funds account for assets held by the City as a trustee
or agent for individuals, private organizations, and other governmental
units.
INVESTMENT TRUS_T FUND
Investment Trust Fund provides for the "pooling" or a centralized system
for investing temporary surpluses of cash by merging cash balances from
all other funds. The fund essentially is an inventory control over all invest-
ments and investment income. Earnings are distributed annually on a pro
rata participation basis.
City Of Brooklyn Center
Fiduciary Funds EXHIBIT 24
COMBINING BALANCE SHEET
December 31, 1980
With Comparative Totals for December 31, 1979
Nonexpendable Agency Funds
Trust Fund Housing and Public Employees
investment Redevelopment Fire Department Retirement Totals
Trust Fund Authority Relief Association Association 1980 1979
ASSETS
Cash in banks 561,845 72,386 634,231 238,136
Investments 85,687 761 445,421 531,869 91,759
Accrued interest 410,055 85 2,631 412,771 303,888
Due from other funds 51,536 51,536 228,662
Taxes receivable 1,468 238 4,429 6,135 13,000
Due frnm other governments 3, 979
Securities investments for other funds (at cost,
which approximates market) 14,141,928 14,141,928 13,521,185
Total Assets 15,1 13,828 211,162 999 452,981 15,778,470 14,400,604
LIABILITIES AND FUND BALANCES
Liabilities
Accounts payable 26,455 26,455 25,249
Performance an d other deposits 140,346 140,346 136,120
Due to other funds
3,840
Due to funds participating in Investment Trust Fund 14,973,482 14,973,482 13,576,304
o
N Total Liabilities 15,113,828 26,455 -0- -0- 15,140,283 13,741,513
Fund Balances
Expendable 184,707 999 452,481 638,187 659,091
Total Fund Balances -0- 184,707 999 452,481 638,187 659,091
Total Liabilities and Fund Balances 15,113,828 211,162 999 4 52,481 15,7 78,470 14,400,604
(See notes to financial atatements)
This statement is an integral part of report dated May 15, 1981
MOEN 8 PENTTILA, ITD.
CiYy Of Brooklyn Center
Fiduciary Funds EXHdBIT 25
COMBINING STATEMENT OF REVENUES; EXPENSES AND CHANGES IN FUND BALANCES I
For ihe Year Ended December 31, 1980 'i
With Comparative Totals for the Year Ended December 31, 1979
Nonexpendable A¢ency Funds
Trust Fund Housing and Public Employees
Investment Redevelopment Fire Department Ret4rement Totals
Trust Fund Authority Relief Association Association 1980 1979
Revenues
intergovernmental Revenue:
State insurance premium rebate 52,521 52,521 49,163
Interest on investments 1,158,134 19,314 38 20,142 1,197,628 1,019,155
Transfer in-Community Development Fund 79,983 79,983
Ad valorem levies 43, 255
Contributions City funds 27, 751
Totai Revenues 1,158,134 89,297 52,559 20,142 1,330,132 1,139,324
Expen�es
Earnings distributed to participating funds 1,156,460 1,156,460 978,181
Professional feea 1,674 1,000 2 2,041
Repair of buildinga 138,854 138,854
Other 278 27 222 527 206
Paid to agency units 52,521 52,521 73,724
Total Expenses 1,158,134 140,132 52,548 222 1,351,036 1,054,152
o, N et Income (Loss) -0- (40,835) 11 19,920 (20,904) 65,172
w
Fund Balance January 1 -0- 225,542 988 432,561 659,091 573,919
Fund B alanc December 31 -0-� 184,707 999 452,481 638,187 659,091
(See notes to financisl statements)
n is an inte ral aM of re ort dated Ma 15, 1981
This stateme t g p P Y
MOEN 8 PENTTIIA, LTD.
GENERAL FIXED ASSETS �ROUP OF ACCOUNTS
General Fixed Assets are those fixed assets of a governmental jurisdiction
which are not accounted for in an Enterprise, Working Capital, or Trust
Fund. To be classified as a fixed asset in this category, a specific piece of
property must possess three attributes:
(1) tangible nature; (2) a life longer than the current fiscal year; and (3) a
significant value.
i
City of Brooklyn Center
SCHEDULE OF GENERAL FIXED ASSETS BY SOURCES EXHIBIT 26
December 31, 1980
B alance B alance
January 1, December 31,
1980 Acquisitions Disposals 1980
Investments in General Fixed Assets (at cost)
Land and land improvements 406, 817 Z61, 645 568, 462
Buildings and building improvements 2, 911, 479 227, 201 3, 138,680
Park properties (including buildings) 1, 560, ?92 998, 509 2, 559, 301
Furniture 203,406 154,103 1,146 356,363
Departmental equipment 1, 725, 613 298, 596 51, 738 1, 972, 471
Storm sewers and street projects 10, 669, 618 198, 742 10, 868, 360
Total Investments in General Fixed Assets 17, 477, 725 2, 038, 796 52, 884 19, 463, 637
Sources of Investments
General indebtedness 600, 491
600,491
General Fund revenues (includes ad valorem levies) 2, 458, 452 391, 383 52, 884 2, 796, 951
Liquor Fund revenue certificates 304, 571 304, 571
Contributions received 327, 398 327, 3,98
Special assessments 10,488,154 198,742 Z0,686,896
Capital Projects Funds:
General obligation bonds 2, 250, 000 879, 798 3,129, 798
Ad valorem tax levies 265, 243 265 243
Sale of land 38, 654 38, 654
Transfers from debt service funds exeess
after payment of debt 198,386 198,386
Transfers from contingent account 3, 000 3, 000
Interest earnings on investments 264, 343 264, 343
Federal grants 204,769 568,873 773,642
State grants 74,264 74,264
Total Sources of Investments 17, 477, 725 2, 038, 796 52, 884 19, 463, 637
(See notes to financial statements)
This statement is an integral part of report dated May 15, 1981
I
�ENERAL LONG-TERM DEBT GROUPOFACCOUNTS
General obligation bonds and other forms of long-term debt supported by
general revenues are obligations of a governmental unit as a whole and not
its individual constituent funds. Moreover, the proceeds of such debt may
be spent on facilities which are utilized in the operations of several funds.
For these reasons, the amount of unmatured long-term indebtedness which
is backed by the full faith and credit of the government should be recorded
and accounted for in a separate self-balancing group of accounts titled the
"General Long-Term Debt Group of Accounts". This debt group will
include, in addition to conventional general obligation bonds, time warrants
and notes which have a maturity of more than one year from date of
issuance.
C ity of B rookl n C enter
C01�1PARATIVE STATEMENT OF GENERAL LONG-TERM DEBT
EXHIBIT 2?
December 31,
1980 1979
Amounts Available And To Be Provided
Amounts available in Debt Service Funds(Exhibiti 403, 728 363, 471
Amounts to be provided in future periods:
General obligation bond principal 3, 016, 272 1, 751, 529
Special assessments levied on city-owned
properties 159, 092 132, 582
Total. Amount Available And To Be Provided 3, 579, 092 2, 247, 582
General Debt To Be Paid In Future Periods
Principal portion of debt 3, 579, 092 2, 247, 582
Total General Debt To Be Paid In Future Periods 3, 579, 092 2, 247, 582
i
S
ee notes to the financial statements)
This statement is an integral part of report dated May 15, 1981
-65-
MOEN 8 PENTTILA, LTD.
City of B rooklyn C enter
GENERAL GOVERNMENTAL EXPENDITURES BY FUNCTION TABLE 1
Last Ten Fiscal Years
Public Community
Fiscal General Safety and Public Health Parks and Debt Pension
Year Government Welfare Works Services Recreation Service Expense
1971 $444,061 624,455 452,245 23,694 $481,854 $295,302 $193,035
1972 496,377 561,100 490,831 27,507 478,385 313,92? 214,663
1973 494,968 587,443 500,840 26,912 466,642 384;101 195,125
1974 546,649 700,438 522,297 26,555 484,811 389,397 227,727
1975 628,341 761,670 599,314 43,269 543,271 383,708 202,704
1976 722,116 849,672 692,545 62,014 633,935 411,730 190,890
1977 764,921 961,851 761,542 50,973 639,315 388,130 258,837
1978 868,776* 1,151,480* 733,615 66,423* 795,116* 380,180
1979 688,539* 1,521,159* 892,470* 48,576* 860,283* 356,905
1980 839,907�` 1,442,619* 1,103,166* 37,336* 917,224* 332,139
*Pension expense is allocated to these functional expenditures
City of Brooklyn Center
REVENUE OTHER THAN SPECIAL ASSESSMENTS TABLE 2
Last Ten Fiscal Years
Charges Revenues in Excess
General for Current Licenses of Expenditures
Fiscal Property Shared Services and and Fines and Public Liquor
Year Taxes T�es Other Revenue Permits Forfeitures Utilities Stores
1971 $1,256,531 526,907 302,073 67,837 53,638 $276,935 $168,406
1972 1,212,708 824,105 319,65i 100,455 37,172 278,089 �.33,972
1973 1,371,366 922,477 368,382 96,006 53,862 527,510 123,316
1974 1,542,561 958,058 462,575 88,922 38,644 435,931 134,995
1975 1,745,66? 1,024,571 432,083 101,380 42,940 381,458 150,902
1976 1,725,854 1,432,745 486,371 102,399 48,475 103,848 147,143
1977 1,880,700 1,577,843 472,410 131,107 54,420 187,560 121,536
1978 1,883,745 1,604,452 494,772 179,062 68,281 351,732 134,841
1979 2,272,323 1,887,093 714,894 186,464 82,466 546,930 161,994
1980 2,416,973 2,731,611 1,127,085 195,931 111,382 937,798 142,456
City of Brooklyn Center
TAX LEVIES AND TAX COLLECTIONS TABLE 3
Last Ten Years
Ratio of
Collections Percentage Collections Accumulated
of Currer�t Levy of Prior Ratio of Delinquent
Year's Taxes Collected Year's Taxes Total Accumulated Taxes to
Year Total During Fiscal During During Fiscal Total Collections of Delinquent Current Year
Collected Ta�c Levy Period Fiscal Period Period Collections Tax Levy Taxes Tax Levy
1971 $1,224,739 $1,112,685 90.85$ 22,252 $1,134,937 .9267:1 30,326 .02476:1
1972 1,195,237 1,163,912 97.38 96,219 1,260,131 1.0543:1 48,409 .04050:1
1973 1,353,452 1,302,941 96.27 19,480 1,322,421 .9771;1 42,173 ,03116:1
1974 1,518,271 1,442,873 95.03 34,450 1,477,323 .9730:1 89,357 .05885:1
1975 1,728,986 1,678,567 97.08 61,791 1,740,358 1,0066:1 144,641 .08366:1
1976 1,'j15,170 1,521,690 88.72 56,229 1,577,919 .9200:1 281,903 .16436:1
0 1977 1,880,700 1,694,382 90.09 198,250 1,892,632 1.0063:1 269,971 .14355:1
i
1978 2,060,012 1,995,621 96.87 163,701 2,159,322 1.0482:1 170,662 .08285:1
1979 2,316,550 2,277,597 98.32 58,083 2,335,680 1.0083:1 146,042 .06304:1
1980 2,350,734 2,3U6,803 98.13 62,371 2,369,174 1,0078:1 135,953 .05783:1
I
City of Brooklyn Center
ASSESSED VALUE AND MARKET VALUE OF ALL TAXABLE PROPERTY TABLE 4
Last Ten Years
1972 1973 1974 1975 1976 1977 1978 1979 1980 1981(3)
Population (*Actual) 36,370 36,908 37,207 36,954 37.081 36,116 34;110 33,700 32,950 31,167
Real ProPerty
Assessed Value (Limited):
City:
Homestead 15,956,478 52,150,596 53>857,283 55,031,870 62,354,181 69,130,468 67,641,018 72,075,015 70,506,973 82,133,535
Excess and non-homestead 10,500,479 36,527,538 40,147,670 42,501,704 47,138 50,356,911 53 54,893,227 63,605,303 80,626,961
Area-wide allocation (net) 460,981 133,422 (201,206) (1,190,083) (1,464,192) (1,832,196) (1,680,827)
Total Assessed Value 26,456,957 88,678,134 94,004,953 97,694,555 $1U9,626,015 $119,286,173 $120,427,225 $125,504,050 $132,280,U80 $161,079,669
Estimated Market Value i
(Limited): $229,923,135 $249,328,665 $262,535,943 $270,699,26i $301,639,725 $329,463,243 $381,926,955 $396,811,532 $451,519,456 $604,637,366
Personal Property I
A ssessed Value 1,313,422 2>403>743 2,657,185 2 2,800,885 3,034,703 3,537,911 4,389,397 3,816,766 4,027,036 I I
rn Eatimated Market Value 10,730>184 5,590,100 6,179,500 6,634,865 6,505,874 7,059,986 8,227,700 10,207,900 8,876 9,365,200
Total Real and Personal Property
Assessed Value 27,7 70,379 91,081,877 96,662,138 $100,846,547 $112,426,900 $122,320,876 $123,965,136 $129,893,447 $136,096,846 $165,106,705
Estimated Market Value $240,653>319 $254,918,765 $268,715,443 $277,334,126 $308,145,599 $336,523,229 $390,154,655 $407,019,432 $460,395,656 $614,002,566
Ratio of Assessed Value to
Estimated Market Value .11540:1 .35730:1 .35972:1 .36363:1 .36485:1 .36348:1 .317733:1 .319133:1 .29561:1 .26890:1
Per Capita Valuations
Assessed Vatue 763.55 2,467.81 2,597.96 2,729.00 3,031.93 3,386.89 3,634.�8 3,954.40 4,130.41 5,297.49
Estimated Market Value 6,616.81 6,906.87 7,222.17 7,504.85 8>310.07 9,317.84 11,438.13 12,077.73 13,972.55 19,700.41
(1) 1972 and subsequent valuations reflect changes as provided for in Laws 1971, Extra Session, Chapter 31, as amended.
(2) 1975 property values and subsequent values include actual amount allocated pursuant to Laws 1971, Extra Session, Chapter 24
from area-wide "Pool".
(3) 1981, limited market value abolished, all property assessed on estimated market value.
MOEN 8 PENTTIIA, ITD.
City of Brooklyn Center
TAX RATES AND TAX LEVIES
Y�rs 1960 Throu�h 1981 TABLE 5
Area School District County Total City, School, County and State N.H.S.
Year Voc-Tech #286 #279 #281 #11 Special State Dist. #286 Dist. #279 Diat. #281 Dist. #11
Collectible City School (Earl Brown) (Osseo) (Robbinsdale) (Anoka) Districts (3) N.H.S. H.S. (Earl Brown) (Osseo) (Robbinsdale) (Anoka)(4)
Tazc Rates M�lls Per $100 of Assessed Value
1960 51.0 167.56 157.64 12U.10 114.70 40.14 14.32 8.10 273.02 263.10 225.56• 220.16
i961 48.26 189.64 163.00 139.20 123.53 41.46 13.85 6.89 293.21 266.57 242.77 227.10
1962 48.54 211.59 179.99 158.69 134.00 45.40 15.51 6.39 321.04 289.44 268.14 243.45
1963 50:12 219.00 184.62 154.72 131.09 47.23 16.85 8.31 333.20 298.82 268.92 245.29
1964 50.68 225.60 189.62 150.08 134.85 52.51 17.14 8.22 345.93 309.55 270.41 255.18
1965 49.80 215.26 195.50 154.72 144.77 59.69 16.14 6.84 340.89 321.13 280.35 270.40
1966 41.62 227.22 199.98 155.00 153.23 55.66 18.42 18.32 352.92 325.68 280.70 278.93
196r 51.52 227.90 203.00 158.76 160.00 53.30 17.24 17.14 349.89 324.99 280.75 281.99
196E 51.34 236.29 211.80 163.56 188.32 64.77 352.40 327.91 279.67 304.43
1969 50.94 .78 266.63 252.28 184.57 265.29 70.00 386.35 374.00 306.29 386.23(8)
197C 49.65 4.51 294.55 295.42 215.01 297.66 77.18 425.89 426.76 346.35 424.49(8)
1971 44.11 7.96 250.31 216.00 204.90 257.09 77.02 379.40 345.09 333.99 378.22(8)
197� 43.04 10.38 183.24 166.09 147.20 173.68 80.45 317.11 299.96 281.07 297.17(8)
1973 14.718(1) 2.694(1) 55.786(1) 54.023(1) 44.727(1) 54.920(1) 27.014(1) 100.162(1) 98.399(1) 389.103(1) 96.652(1)
1974 15.710 3.084 56.805 54.634 50.289 54.845 28.965 104.564 102.393 98.048 99.520
1975 Y7.988(2) 3.372 62.074 57.654 50.787 60.190 33.142 115.576 112.155 105.289 111.320
1976 15.607(2) 2.759 54.204 53.435 49.043 55.270 31.275 103.895 103.076 98.684 102.152
1977 15.725(2) 2,485 52.663 53.648 49.875 58.400 34.063 104.936 105.921 102,148 108.168
1978 16.646(2) 2.132 58.537 52.434 49.690 55.840 35.086 107,401 106.298 103.554 107.572
197� 17.880 2.227 47.451 45.073 46.645 47.706 35.450 103.008 100.630 102.202 101.036
198U 17.245 1.681 42.981 39.345 41.973 43.212 34.580 96.487 92.851 94.979 95.037
1981 16.603 1.510 33.512 33.427 40.757 37.996 33.373 84.998 84.913 92.243 87.972
Tax Levies on Property Within Brooklyn Center
Area School District County Total City,
Year Voc-Tech #286 #279 #281 #11 Total Special Schools
Cdlectible School (Eari Brown) (Osaeo) (Robbinsdale) (Anoka) School Districts (3) City State County State
1960 427,311 465,174 248,382 42,211 $1,183,078 479,907 404,905 84,515 2,152,405
1961 497,907 665,299 320,697 43,880 1,527,783 451,594 452,289 91,090 2,522,756
1962 551,349 771,611 367,691 59,153 1,749,804 440,294 470,746 98,108 2,758,952
1963 587,665 830,918 524,099 76,198 2,018,880 528,874 561,236 139,015 3,248,005
1964 622,578 883,842 526,189 100,102 2,132,711 615,335 593,890 147,785 3,489,721
1965 668,961 976,585 614,756 140,923 2>401,225 779,230 650,137 153,954 3,984,546
1966 728,353 1,003,287 623,412 171,926 2,526,978 744,231 690,212 245,668 4,207,089
1967 836,669 1,142,570 790,174 210,428 2,979,841 828,401 804,858 268,168 4,881,268
1968 888,684 1,200,483 901,846 295,160 3,286,173 1,069,364 847,632 5,203,169
1969 16,096 1,238,004 1,724,773 1,317,751 535,263 4,831,887 1,494,592 1,051,250 7,327,729
1970 99,033 1,375,490 2,071,747 1,689,434 719,896 5,955,600 1,694,770 1,090,248 8,740,618
1971 216,938 1,580,568 1,852,268 1,889,969 807,230 6,346,973 2,099,064 1,202,152 9,648,189
1972 255,036 1,190,094 1,436,342 1,387,686 555,856 4,825,014 2,239,127 1,195,237 8,254,378
1973 240,820 1,273,089 1,506,993 1,317,268 599,411 4,937,581 2,460,486 1,340,543 8,738,610
1974 298,106 1,466,912 1,571,708 1,535,659 632,575 5,504,960 2,799,819 1,518,562 9,832,341
1975 296,212 1,652,565 1,742,105 1,552,542 754,898 5,998,322 3,370,680 1,805,754(6) 11,174,756
1976• 270,428 1,681,797 1,804,010 1,629,635 789,077 6,174,947 3,511,979 ],752,564(6) 11,439,490
1977 265,953 1,786,278 1,834,979 1,800,122 910,670 6,598,002 4,156,788 1,849,989(6) 12,604,779
1978 231,488 1,853,423 1,865,301 1,841,345 889,060 6,680,617 4,345,690 2,060,012(6) 13,086,319
1979 252,099 1,763,457 1,711,981 1,805,864 ?94,944 6,328,345 4,603,009 2,316,684 13,249,038
1980 203,243 1,737,432 1,568,491 1,650,314 1,552,661 6,712,141 4,711,691 2,350,962 13,779,774
1981 237,607 1,939,916 1,636,937 2,058,195 766,972 6,639,577 5,925,084 2,947,717 15,512,378 I
1 Due to determination of assessed valuation calculation chan ed b state law 3 Includes Metro Council Metro Transit Commissio I
O g y O n, Mosquito Control District,
enacted in 1971 the resulting mill rate is approxunately one-third as great Park Museum.
as before the enactment of the new law (4) Area Vo-Tech school tax rate is excluded.
(2) Includes tax levy for the Housing and Redevelopment Authority of
Brooklyn Center.
City of Brooklyn Center
SPECIAL ASSESSMENT COLLECTIONS TABLE 6
Last Ten Years
Current Specia.l Total
Assessments Amount Ratio of Current and
Installments Collected Current Delinquent
Becoming Due Currently Collections Assessments Currer�t
Fiscal During the During the to Amount Un�ollected Percentage Balance
Period Fiscal Period Fiscal Period Due At Year End Collected Uncollected
1971 $844,933 $660,490 .7817:1 $232,717 97.83$ 18,354
1972 807,317 647,695 a8023:1 270,543 97,19 22,717
1973 787,054 589,500 .7490:1 312,177 94,89 40,248
1974 742,130 634,434 .8549:1 202,970 85.49 107,696
1975 679,068 567,338 .8355:1 314,700 83.55 204,701
1976 736,438 444,699 .6039:1 606,439 60.39 290,511
r
1977 663,514 406,029 a6119:1 633,094 61.19 257,485
1978 607,046 407,224 .6?08;1 668,578 67.08 199,822
1979 585,105 461,550 .7888:1 361,906 78,88 123,555
1980 655,175 572,104 .8732:1 189,808 87.32 83,071
C ity of B rooklyn C enter
RATIO OF NET BONDED DEBT TO ASSESSED VALUE AND NET BONDED DEBT PER CAPITA
Last Ten Years TABLE 7
Ratio of
Less: Amount Net Bonded Net Bonded
Fiscal Estimated Assessed Gross In Debt Net Debt to Assessed Debt Per
Period Population Value* Bonded Debt Service Funds Bonded Debt Values* Capita
1971 36,370 82,680,606 $10,005,000 $1,793,277 $8,211,723 .0993:1 $255.78
1972 36,908 83,311,137 9,291,000 1,774,258 7,516,742 .0902:1 203.66
1973 37,102 91,081,877 9,224,000 2,118,269 7,105,731 .0780:1 191.52
1974 36,954 96,662,138 8,407,000 1,874,002 6,532,998 .0675:1 176.79
1975 37,081 100,386,566 ?,605,000 2,115,984 5,489,016 .0547:1 148.02
1976 36,116 112,293,478 7,770,000 2,118,250 5,581,750 .0497:1 154.55
I 1977 34,110 122,320,876 7,015,000 2,193,710 4,821,290 .0394:1 141.35
1978 33,700 123,965,136 6,215,000 2,652,259 3,562,741 .02873:1 105.72
1979 32,950 129,893,44? 5,475,000 3,138,481 2,336,519 .01799:1 70.91
1980 31,167 136,096,846 6,265,000 2,519,067 3,745,933 .02752:1 120.19
*Assessed value has been restated for years prior to 1972 so as to be on a basis comparable to 1972.
C ity of B rooklyn C enter
STATEMENT OF LEGAL DEBT MARGIN TABLE 8
December 31, 1980
A ssessed Va1ue, January 1, 1980 $165,106,705
Debt limit 6.67s of assessed value (See Note A) 11,012,617
Total bonded debt $6, 265, 000
Deductions See N ote B):
A Bonds
1. Special Assessment Bonds $2, 325, 000
2. State Aid Street Bonds 655, 000
3. Utility Revenue Bonds 520, 000
$3,50U,000
B. General Debt Service Fund 385, 788 3, 885, 788
Total Debt Applicable to Debt Limit 2, 379, 212
Le�al Debt Mar�in, December 31, 1980 8, 633, 405
Note: (A) M.S.A. Section 475.53 (See following page)
Note: (B 1�9. S.A Section 475. 51 See following page)
73-
C ity of B rooklyn C enter
STATEMENT OF LEGAL DEBT MARGIN TABLE 8
December 31, 1980
Note (A): M.�.A. Section 475.53 et seq. Limit on Net Debt:
"Subdivision l. Generally, except as otherwise provided in
sections 475.51 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 6. 67 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 current fiscal year to the pay-
ment of any debt, and the aggregate of the principal of the
following
(1) Obligations issued for improvements which are payable
wholy 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 specia.l assessments
2) Warrants or orders having 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 systen�s, and public 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 law
authorizing their issuance are not to be included in computing
the net debt of the municipality
74-
C ity of B rooklyn C enter
COMPUTATION OF DIRECT AND OVERLAPPING DEBT TABLE 9
December 31, 1980
City of Brooklyn Center
Gross Sinking Share
Governmental Unit Debt Funds Net Debt Per Cent Amount
Direct and Overlapping Debt
Direct Debt:
City of Brooklyn Center (1)$ 6, 265, 000 2, 519, 067 3, 745, 933 100.00$ 3, 745, 933
Overlapping Debt:
School Districts
No. 281 (Robbinsdale) 21, 668, 000 5, 926, 761 15, 741, 239 10.20� 1, 605, 606
No. 11 (Anoka) 27, 520, 000 4, 037,182 23, 482, 818 5.90$ 1, 385, 486
5 910,223
2 053 071
26.800
No. 279 (Osseo) 2) 25, 025, 000 2, 971,
929 2
1 004 380 100.00$ 1,004,380
1 155 000
150,620
nter
n Ce
286 B rookl
No. Y
Area Voc. Tech School: 616,126
N o. 287 (3) 15,000,000 2,425,996 12,574,004 4.90$
Metro T ransit 15,600,000 2,923,000 12,677,000 1.50$ 190,155
Metro Council (4) 34,990,000 22,396,728 12,593,272 1.50% 18��899
Metro Airport 5
H ennepin C ounty 38,000,000 5,241,000 32,759,000 2.70$ 884,493
Hennepin County Park District 2, 250, 000 859� 440 1, 390, 560 2. 70 a 37, 545
Total Overlapping Debt $181,208,000 46,932,656 $134,275,344 11,822,913
Total Direct 8� Overlapping Debt $187, 473, 000 49, 451, 723 $138, 021, 277 15, 568, 846
(1) Includes $2, 325, 000 debt outstanding to be paid from special assessments, $655, 000 debt outstanding on State
Aid Street Bonds, and $520, 000 debt outstanding on revenue bonds.
2) Excludes $650, 000 capital construction loans from the State of Minnesota under provisions of Maximum Effort
School Aid Loan Account, considered to be subordinate to publicly held bonds.
(3) This debt is approximately 50o supported by State Aids and has been so reduced here,
4) Excludes $126, 577, 000 (less $14, 010, 472 in sinking funds) of the Metro Council issued G.O sewer bonds.
These sewer bonds are supported from sewer service charges to government units (including Brooklyn Center)
within the metro sewer system.
5) Excludes $117, 320, 000 (less $19, 600, 000 in sinking funds) 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 ($165,106,705) 9.43$ 2.27$ 7.160
Debt to market value ($604, 637, 366) 2. 57% .62$ 1. 95%
Per capita debt (population 31,167) $499. 53 $120.19 $379.34 I
r I
C ity of B rooklyn C enter
RATIO OF ANNUAL DEBT SERVICE EXPENDITURES FOR GENERAL TABLE 10
BONDED DEBT TO TOTAL GENER.AL EXPENDITUftES
Last Ten Years
ftatio of Debt
Tota1 Tota1 General Service to General
Year Principal Interest Debt Service Expenditures Expenditures
1971 68,800 $228,35� $297,151 $2,210,67�, 13,440
1972 90,000 223,927 313,927 2,219,355 14.14
1973 165,000 219 101 3 4
8,101 2 278 020 1
6.86
1974 �80,000 209,397 389,397 2,577,758 15.10
1975 185,000 198,708 383,708 2,839,621 13.51 II
1976 225,000 186,730 411,730 3,244,183 12.76
1977 2].5,000 173,130 388,130 3,239,892 11.98
1978 220,000 160,180 380,180 4,146,063 9.17 I
1979 210,000 146,905 356,905 5,267,380 6.78 I I
1980 195,000 134,211 329,211 7,931,555 4.15 I
City of Brooklyn Center
SCHEDULE OF REVENUE BOND COVERAGE TABLE 11
Last Ten Years
Net Ratio of Net
Gross (1) Revenue Debt Service Revenue to
Year Revenue Expenses Available Principal Interest Total Debt Service
1971 �1,1�0,730 $558,189 $582,541 $45,000 $34,300 $79,300 7.3 to 1
1972 863,111 447,567 321,106 30,000 31,767 61,767 5.2 to 1
1973 1,053,238 383,000 700,238 30,000 30,52b 60,525 11.6 to 1
1974 1,048,447 471,046 577,401 30,000 29,400 59,400 9.7 to 1
1975 1,107,926 556,573 551,353 30,000 28,275 58,275 9.5 to 1
1976 1,235,274 710,662 524,612 35,000 27,105 62,105 8.4 to 1
1977 1,145,563 761,542 384,021 35,000 25,740 60,740 6.3 to 1
1978 1,371,519 817,154 554,365 35,000 24,375 59,375 9.3 to 1 I I
I
1979 1,572,244 824,417 747,827 35,000 23,010 58,01.0 12.9 to 1 I
1980 1,950,340 952,850 997,490 35,000 21,645 56,645 17.6 to 1 I
(1) Excludes depreciation and interest on bonds
*1971 and prior includes Liquor Store Revenue Bonds
I
C it of B rookl n C enter
Y Y
PROPERTY VALUE AND CONSTRUCTION TABLE 12
Last Ten Fiscal Years
Commercial Residential
construction construction
Fiscal Number Property value�
Year Value of Units Value Commercial Residential Nontaxable
1971 4,965,139 i87 2,781,640 74,359,335 $156,178,125
1972 6,261,236 808 12,612,280 74,206,200 155,716,935
1973 3,635,104 35 834,140 93,702,944 168,832,999
1974 5,742,259 2U 497,600 �7,725,427 204,701,794 50,386,615
1975 3,915,836 39 1,164,932 77,895,417 213,950,371 50,386,615
1976 1,757,755 65 1,919,500 82,820,196 251,332,282 50,386,615
1977 3,584,198 80 2,179,300 125,012,840 256,914,ll5 50,386,615
1978 5,247,131 239 6,861,300 140,651,752 285,436,500 50,386,615
1979 8,209,394 76 3,392,700 161,917,915 330,196,500 50,386,615
1980 12,554,300 43 3,061,000 215,536,256 392,096,600 52,828,091
E stimated market value
Exempt assessment not available prior to 1974
-78-
MOEN PENTTILA, LTD.
City of Brooklyn Center
PRINCIPAL TAXPAYERS TABLE 13
December 31, 1980
Percentage
1981 of total
Market Market
Taxpayer Type of Business Valuation Value
Equitable Life Assurance Soc
of America Brookdale Center $21, 521, 900 3. 2`0
Prudential Insurance Company
of America Warehouses 16,148, 026 2.4$
Brooklyn Center Development
Company Land 8, 916, 000 1. 3$
Brooklyn Center Industrial
Park Inc Land 7, 571, 700 1.1$
Twin Lake North Apartments 5, 450, 700 .8$
Center Development Company Apartments 5, 412, 400 .8$
Eberhardt Inv. Inc. Land 5,151, 400 .8%
Chippewa Park Properties Apartments 3, 940,100 .6 0
Howard E. Johnson Office /Warehouse 3, 744 000 6 0
N orthern States Power Company Utility 3, 647 606 5 0
$81,503,832 12.1$
1
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MOEN 8 PENTTILA, LTD.
CitY Of Brooklyn Center
SUMMARY OF DEBT SERVICE REQUIREMENTS TO MATURITY TABLE 14
December 31, 1980
Total
Fiacal General Obligation Bonds G.O. Special Assessment Bonds G.O. State-Aid Street Bonds Water Revenue Bonds Debt Service Requirement
Year Princival Interest Principal Interest Principal Interest Principal Interest Principal Interest•
1981 130,OD0 185,297 390,000 123,435 55,000 41,109 40,000 20,231 615,000 370,072
1982 135,000 186,585 360,000 103,472 60,000 37,515 40,000 18,720 595,000 346,292
17 4 345 000 84 665 60 000 33,750 40,000 17,160 625,000 312,055
1983 180,000 6, 80
1984 195,000 169,050 450,000 66,529 60,000 29,940 40,000 15,600 745,000 276,119
1985 195,000 150,495 240,000 42,325 60,000 26,070 45,000 13,991 540,000 232,881
1986 210,000 136,520 125,000 28,185 60,000 22,140 45,000 12,285 440,000 199,130
1987 220,000 121,420 115,000 21,345 60,000 18,165 45,000 10,530 440,000 171,460
1988 240,000 105,520 100,000 15,070 60,000 14,160 95,000 8,775 445,000 143,525
1969 250,000 88,670- B0,000 9,330 60,000 10,125 45,000 ?,020 435,000 115,145 I I I
1990 120,000 71,100 60,000 4,830 60,000 6,075 45,000 5,265 285,000 87,270 I
1991 280,000 56,420 60,000 1,620 60,000 2,025 45,000 3,510 445,000 63,575 II I
ao I
1992 300,000 34,810 45,000 1,755 345,000 36,565
1993 310,000 11,780 310,000 11,780
T otal 2,765,000 1,489,197 2,325,000 500,806 655,000 241,079 520,000 134,842 265,000 2.385,869
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MOEN 8 PENTTILA, LTD.
City of Brooklyn Center
MISCELLANEOUS STATISTICAL FACTS
December 31, 1980
1
Date of Incorporation February 14, 1911
Date of Adoption of City Charter November 8, 1966
Effective December 8, 1966
Form of Government Council-Manager
Fiscal Y ear B egins January 1
Area of City 8 Z square miles
Miles of Streets:
City 102
S tate 12
C ounty 6
Miles of Storm Sewers 37
Number of Street Lights 903
Building Permits:
Number of Permits Issued:
1980 563
1979 606
1978 818
1977 566
1976 568
1975 645
1974 423
1973 390 1
1972 708
I
1971 2
4 5
1970 404
I 1969 460
1950-1968 inclusive 11,474
Estimated Cost:
1980 17,454,690
1979 13,081,520
1977 13,578.901
1976 6,228,087
1975 3,786,638
1974 5,972,910
1973 6,968,172
1972 5,110,140
1971 19,907,041
1970 8,487,763
1969 10,441,322
1950-1968 inclusive 134,704,012
Fire Protection
Number of stations 2
Number of Volunteer Firemen 32
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MOEN 8 PENTTILA, LTD.
City of Brooklyn Center
MISCELLANEOUS STATI5TICAL FACTS
December 31, 1980
Polic Pro ection
e t
Number of Stations 1
Number of Employees 58
Vehicle Patrol Units 11
Parks and Recreation
288 acres developed for regular use. 226 additional acres of City-owned
land designated for parks and playground to be developed.
Full-time employees 16
Part-time employees 200 (Seasonal)
Supervised playgrounds 17
Park shelters 17
Ice skating rinks 17
Hockey rinks 6
Softball diamonds 23
Baseball diamonds 5
Tennis courts 12
Basketball courts 6
E duc ation
Public Schools
School Districts within B rooklyn Center 4)
No. 11 No. 286 No. 281 No. 279
(Anoka) (Earle BrownXRobbinsdale) (Osseo)
Total school buildings 34 2 21 18
School buildings within
Brooklyn Center 1 2 1 3
Total students registered 31, 420 1, 367 17, 329 15, 535
Students from Brooklyn
Center registered 1, 337 1, 367 775 2, 649
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
'�198U assessed valuation 477,993,650 53,089,175 520,549,394 348,123,663
*1980 assessed valuation
in Brooklyn Center 19, 436, 823 63, 382, 985 52, 277, 667 48, 532, 993
Parochial schools (1)
St. Alphonsus School grades 4-8 Total Students registered 334
*Assessed valuation prior to fiscal disparities and tax increment calculations
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MOEN 8 PENTTILA, LTD.
Cit� of Brooklyn Center
MISCELLANEOUS STATISTICAL FACTS
December 31, 1980
Municipal Water Plant:
Number of connections 8,119
Average daily consumption 3,711,010 gallons
Peak daily consumption 11,804,000 gallons
Plant capacity daily 15, 264, 000 gallons
Miles of water mains 108 miles
Number of fire hydrants 776
Number of wells 7
Number of elevated reservoirs 3
Storage capacity 3, 000, 000 gallons
Water rate per thousand gallons 35�
Municipal Sewer Plant: t
Number of connections 8, 371
Miles of sanitary sewer 98
Daily disposal capacity 7,416,000 gallons
Number of life stations 9
Residential rate 20.00 per quarter
Municipal Liquor Stores (Off Sale) t
Number of owned stores 1
Number of leased stores 2
1980 sales $2,404,261
City Employees:
As of December 31, 1980
Permanent or regular 126
Temporary or part-time 135
Tota1 261
Elections
Registered voters City election 1980 22, 530
Number of votes cost in city election 16,533
Percentage of registered votes voting 73.4 0
Registered voters last state election 21, 066
Number of votes cast last state election 12,679
Percentage of registered voters voting 60.2$
Population
1940 1,870
1950 4,284
1960 24,356
1965 (special census) 30,108
1979 35,173
1980 31,167
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MOEN PENTTILA, LTD.