HomeMy WebLinkAboutAnnual Audited Financial Report-1976 ANNUAL
AUDITED FINANCIAL REPORT
of the
CITY MANAGER
of
BROOKLYN CENTER, MINNESOTA
For The Year Ended December 31, 1976
DONALD G. POSS, CITY MANAGER
r
Prepared by
THE DEPARTMENT OF FINANCE
Paul W. Holmlund, Director
(Member of Municipal Finance Officers
Association of the United States and Canada)
City of Brooklyn Center
ANNUAL FINANCTAL REPORT
For the Year Ended December 31, 1976
TABLE OF CONTENTS
Exhibit Page
Number Number
Listing of City Officials 1, 2
Organization Chart 3
Location of City Properties 4
Letters of Transmittal 5- 16
Financial Statements Section
Auditor's Report 17
Combined Balance Sheet A11 Funds and Account
Groups (Condensed Form) December 31, 1976 1 18, 19
Combined Statement of Revenues, Expenditures
and Encumbrances, General and Sp2cial
Revenue Funds 2 20
Combined Schedule of Taxes Receivable Schedule 1 21
Combined Schedule of Bonds Payable Scl�edule 2 22, 23
Combined Schedule of Investxnents Schedule 3 24
General Fund Statements
Balance Sheet 3 25
Statement of Changes in Fund Balance 4 26
Statement of Revenues, Expenditures,
Encumbrances and Transfers 5 27
City of Brooklyn Center
ANNUAL FINANCIAL REPORT
For the Year Ended December 31, 1976
TABLE OF CONTENTS
Exhibit Page
Number Number
General Fund Statements, Cont'd
Statement of Revenue Budget Actual
Objective Classification Schedule 5-A 28
Statement of Expendi.tures and Encumbrances
Budget and Actual Classified as to Activity,
Character and Object Schedule 5-B 29
Special Revenue Funds Statements
Combined Balance Sheet 6 30
Combined Statement of Revenue,
Expenditures and Fund Balances 7 31
Debt Service Funds
Combined Balance Sheet 8 32
Combined Statement of Revenues, Expenditures
and Fund Balances 9 33
Capital Projects Funds Statements
Combined Balance Sheet 10 34
Combined Statement of Appropriations,
Expenditures and Fund Balances 11 35
City of Brooklyn Center
ANNUAL FINANCIAL REPORT
For the Year Ended December 31, 1976.
I TABLE OF CONTENTS
Exhibit Page
Number Number
Enterprise and Public Service Funds Statements
Municipal Liquor Fund
Statement of Financial Position 12 36
Statement of Operations and Retained Earnings 13 3?
Statement of Changes in Financial Position 14 38
Public Utilities Fund
Statement of Financial Position 15 39
Statement of Operations and Retained
E arnings 16 �p
Statement of Changes in Financial Position 17 41
Water Department Operating Expenses 18 42
Sewer Department Operating Expenses 19 43
Statement of Utility Plant in Service and
Allowance for Depreciation 20 44
Trust and Agency Funds Statements
Combined Balance Sheet 21 45
Combined Statement of Principals Balances 22 46
Combined Statement of Revenue, Expenditures
and Fund Balances 23 47
City of Brooklyn Center
ANNUAL FINANCIAL REPORT
For the Year Ended December 31, 1976
TABLE OF CONTENTS
Exhibit Page
Number Number
Investment Trust Fund Statements
Balance Sheet 24 48
Statement of Earnings 25 49
Changes in Participating Funds' Balances 26 50
Special Assessment Funds Statements
Combined Balance Sheet 27 51
Combined Statement of Revenue, Expenditures
and Fund Balance 28 52
Statement of Construction Appropriations
and Expenditures 29 53
Statement of Construction Expenditures
Compared to Appropriations and
Assessment of Benefits 30 54
General Fixed Assets and General Long-Term Debt
Statement of General Fixed Assets 31 55
Statement of General Long-Term Debt
and Interest 32 56
Schedule of General Long-Term Debt and
Interest by Maturities 33 57
Notes to Financial Statements
Note 1 All Funds 58 61
Note 2 A11 Funds 61
City of Brooklyn Center
ANNUAL FINANCIAL REPORT
For the Year Ended December 31, 1976
I TAB LE OF C ONTE NT S
Exhibit Page
Number Number
Notes to Financial Statements Continued
Note 3 Municipal Liquor Fund 61, 62
Note 4 Public Utilities Fund 62 64
Note 5 Public Utilities Fund 64, 65
Note 6 Special Assessment Funds and
Statement of General Long-
Term Debt and Interest 65
Note 7 Pension Plans and Pension Funds 65, 66
Note 8 Contingent Liabilities 67
Statistical Information Section
Citv of Brooklvn Center
LISTING OF CITY OFFICIALS
For the Year Ended December 31 1976
Elected Officials
Term of Office Term Expires
Ma�or Philip Cohen Two Years 12-31-77
Councilman Maurice Britts Three Years 12-31-77
Councilman Bill Fignar Three Years 12-31-78
Councilman Tony Kuefler Three Years 12-31-78
Councilman Robert Jensen Three Years 12-31-76
Officials Not Elected
City Manager ponald G. Poss
City Clerk Allen S. Lindman
City Treasurer Paul W. Holmlund
City Attorney Richard Schieffer
Administrative Assistant Ronald Warren
Department Heads:
Finance Paul W. Holmlund
Public Works James Merila
Police Thomas G. O'Hehir
Fire Ronald Boman
Planning and Inspection A. Blair Tremere
Park and Recreation Eugene Hagel
Assessment john Nordberg
Liquor Stores Truman Nelson
Street and Park Superintendent Henry Davis
Public Utilities Superintentlent Frank Smith, Jr.
Recreation Superintendent Arnold Mavis
Health Officer R. I. Shragg, M.D.
Fire Marshal Linus Manderfeld
Sanitarian John Urbach
Civil Defense Coordinator James Lindsay
1
r
City of Brooklyn Center
LISTING OF CITY OFFICIALS
At April 30, 1977
Elected Officials
Term of Office Term Expires
Mayor Philip Cohen Two Years 12-31-77
Councilman Maurice Britts Three Years 12-31-77
Councilman Tony Kuefler Three Years 12-31-78
Councilman Bill Fignar Three Years 12-31-78
Councilman Gene Lhotka Three Years 12-31-79
Officials Not Elected
City Manager ponald G. Poss
City Clerk Al�en S. Lindman
City Treasurer Paul W. Holmlund
City Attorney Richard Schieffer
Administrative Assistant Ronald Warren
Administrative Assistant Brad Hoffman
Department Heads:
Finance Paul W. Holmlund
Public Works James Merila
Police Thomas G. O'Hehir
Fire Ronald Boman
Planning and Inspection A. Blair Tremere
Parks and Recreation Eugene Hagel
Assessment Peter Koole
Liquor Stores Truman Nelson
Street and Park Superintendent Henry Davis
Public Utilities Superintendent Frank Smith, Jr.
Recreation Superintendent Arnold Mavis
Health Officer Duane Orn M. D.
Fire Marshall Linus Manderfield
Sanitarian John Urbach
Civil Defense Coordinator James Lindsay
2
ORGANIZATION CHART
COUNCIL MANAGER PLAN
City of Brooklyn Center, Minnesota
ADVISORY ELECTORATE CHARTER COMMISSION
Capital Improvement Review Bd.
ADVISORY
Youth Advisory Commission
ADVISORY CITY COUNCIL
Housing Commission
ADVISORY CITY ATTORNEY
Conservation Commission
ADVISORY City Manager Administrative Assistant
W City Clerk
Human Rights Commission
Purchas ing Of f ice r
ADVI SORY
Parks and Recreation Commission
s
ADVISORY Administrative Assistants
Planning Commission
I Civil
Defense
I
i i i
DIRECTOR DIRECTOR CHIEF DIRECTOR DIRECTOR CHIEF MANAGER DIRECTOR ASSESSOR
Planning Finance Police of Parks and Volunteer Liquor Public Tax
and Department Department Environmental Recreation Fire Store Works Assessmen±
Inspection City Health Department Department �Department Department
Departr*:ent Treasurer Department City
Government Enqineer
Buildings
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Engineering Street Public
Division Division ,Utilities_
City of Brooklyn Cente��
Location of City Properties December 31, 1976
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'I Park System Key
1. Willow Lane Park
2 Orchard Lane Park
3. Kylawn Park
4. Lak.eside Park
��t=.-°- T 5. Brooklane Park
6. Wangstad Park
City General Pro�erties 7. Northport Park
A. City Hall (Vacated 6-7-71) 8. Happy Hollow
B. Water Tower 9. Palmer Lake Park
C. West Fire Station Liquor Store #2 10. Garden City Park
D. Library (Land Only-County Library) 11. Proposed Park
E. Liquor Store #3 (located on leased 12. Lions Park
property (Northport Shopping 13. Grandview Park
Center) 1��. Evergreen park
F. G. Vacant 15 BellvL�e Par):
H. Well 16. Marlin P�rl:
I. Garage 2 wells 1 water tank 17. Firehouse Park
J. Liquor Store �#1 18. Riverdale p�r_k
K. Con�n�unity Center Central Park 19. Freeway Park
L. Municipal Service G�rage 20. River Ri.c7ge Park (Mis�.River}
Nl. East Fire Station 4 (Stat_e owned)
2I Twin Lake �3each Park
(Citv St��t� owned)
1
CITY
OF
B ROOK Y 6301 SHINGLE CREEK PARKWAY
N BROOKLYN CENTER, M�NNESOTA 5�430
C ENTER TELEPHONE (612) 561-5440
April 27, 1977
i
Mayor and City Council
City of Brooklyn Center, Minnesota
Gentlemen:
Section 7.12 of the City Charter requires the City Manager to submit an
annual audited report to the Council covering the entire financial system
of the City for the past year.
The annual audited financial report of the City for the year ended December 31
1976, prepared by the Department of Finance under my general supervision,
is submitted for your consideration.
ectfully s itted
��-,�C fi e•"Qr'�.d
Donald G. Poss
City Manager
DP:ck
I 5
..S�et� rn�
Apri125, 1977
Mr. Donald G. Poss
City Manager
Brooklyn Center, Min�esota
Dear Mr. Poss:
The Annual Financial Report of the City of Brooklyn Center,
Minnesota, for the year ended December 31, 1976,. is submitted here-
with.
THE REPOR,T
The organization, form and content of this report has been pre-
pared using standards prescribed by the Municipal Finance Officers'
Association of the United State and Canada, the National Council on
Governmental Accounting, the American Institute of Certified Public
Accountants, the Srate Auditor, State of Minnesota, and the Brooklyn
Center City Charter.
CERTIFICATE OF CONFO'3,MANCE
On September 19, 1967, the Municipal Finance Officers' Assoc-
iation of the United States and Canada (MFOA) ceri:ified that the Annual
Audited Fin�.ncial Report of the City of Brooklyn Center for the year 1966
conformed to the principles and standards of public financial reporting
as promulgated ��y the MF'OA and the National Council on Governmental
Accounting. A Cer�ificate of Conformance is a•Narded by the MFOA only
to the governmental unit whose financial repor is judged to conform sub-
stantially to ±he high standards for financial reporting established by the
Association. These standards are contained in publications of the National
Council on Governmental Accounting. I believe the report herewith submitted
continues to conform substantially to such standards. However, the MFOA
has recently made changes to its certificate program whereby tlie validity
of the certificate is limited to a period of three years. Therefore, since
our certificate has expired, I intend to submit this report to MFOA for
review and request a renewed Certificate of Conformance.
ORGANIZATION
Brooklyn Center was incorporated as a Village on February 14,
1911, and b�ca.me a City of the second class on December 8, 1966, thirty
days from the adop±ion of the City Charter by a referendum vote of the people.
6
The form of overnment established b the Charter is the
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''Council-Manager Plan". The Council exercises the legislative power
of the City and determines all matters of policy. The Council is com-
posed of a Mayor and four Councilmen who are elected at large. Each
Councilman serves a term of three years and the Mayor serves a term
of two years. The City Manager is the head of the Administrative branch
of the City government and is responsible to the Council for the proper
administration of all affairs relating to the City.
The City Manager is the chief accounting officer of the City and
must provide such information about the finances of 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 connec-
tion with the keeping of the public records. The City Treasurer has
duties in connection zvith 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 appoini ed by the City Manager. Appoint-
ment or removal of departmen� h�ads are made final upon a majority vote
of the Council.
The City carries faithful performance blanket bond coverage in
the amount of $20, 000 on a.11 City employees.
GENERAL OPERATIONS
The City, in addition to the usual activities such as: general
government, public safety and welfare, highways, recreation and parks;
operates three off-sale liquor stores and a public sswer and water utility.
Net revenues produced in excess of working capital requirements by muni-
cipal liquor store operations have been used toward financing current
expense and capital outlay programs of the City General Fund.
The net revenu�s of the sewer and water utility has been retained
t within the Public Utilities Fund and employed for sewer and wa±er utility
purposes.
ACCOUNTING SYSTEM
The accounting for all activites of the City is divided into various
purpose groups or funds as required by statute and/or good accounting
practice. Except for minor variances, all funds are maintained on an
accrual basis and in conformity with gen�rally accep�ed accounting prin-
ciples applicable to governmental entities as set for�h by the National
Council On Governmental Accounting.
1
The accounts of the City are classified in conformance with
classification pres�ribed by ±he State Auditor's Office. The account-
ing system used for the Public Utilities Fund is adopted from a system
specifically designed for municipally-owned utilities by the American
Water Works Association.
Accounting and bookkeeping for all City activities are cen-
tralized under the Depar�tment o.f Finance. The res�onsibility for
maintaining and pres �ribing all financial. records, establishing and
maintaining internal control, and preparing financial and budgetary
repor�s is delegated to this department.
FINANCIAL CONTROL AND THE BUDGET
The City Charter grants the City Council full authority over the
financial af.fairs of the City. The Charter requires that all funds of the
City except funds made up of proceeds of bond issues, public service
enterprise funds, a.nd special assessments 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 adoptio.n of the annual budget
resolution by the Council, it becomes the formal budget for City oper-
ations. Afther the t�udget resolution is ado�±ed, the Council can increase
the budget only if actual receipts exceed the estimates or from accumu-
lated surplus in th� a�nount of an unexpended appropriation from the pre-
vious fiscal year.
Financial reports, which compa.re actual performance with the
budget are prepared monthly and presented to the Council so the Council
is able to review the finan�ial status and measure the effectiveness of
the budgetary controls.
overninental bud et rocedures are not used in connection with
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the liquor stores or public utilities opLratio�s, because these operations
are primarily of commercial nature and employ concepts peculiar to
revenue producing en±ities.
A summary of the budget document as originally adopted (prior
to subs�quent amendments) for the calendar year 1976 follows:
g
Proposed Expenditures (Pu�lic Service Enterprise Excluded)
City operations (General Fund) $3, 077, 995
Library Bond Red�mption Fund 14, 100
Park Bond Redemption Fund 25, 300
1969 Building and Improvement Bond Redemp-
tion Fund 274, 600
Firemen's Relief Association 30, 580
Employees' Retirement Fund 123, 000
Policemen's Pension Fund 46, 108
Total Proposed Exp�nditures $3, 591, 683
Proposed Source of Financing
Taxation (See summary of taxation pre-
sented below) $1, 714, 897
Intergovernmental (State and Federal) Revenue 1, 218, 117
Tax penalties 25, 000
Local Revenues:
General governm�nt services 298, 445
Permits and licenses 105, 000
Court fines 45, 000
1 Miscellaneous revenue 31, 124
Transfers-in:
Liquor Fund 140, 000
Library Sale Fund 14, 100
Total Proposed Financing $3, 591, 683
d valorem tax levies for the current ear 1976 and for the two revious
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years (1975 and 1974) are summarized and presented below:
1976 1975 1974
Mill Rate Amount Mi11 Rate Amount Mill Rate Amount
Tax Levy
City Operations 11. 260 $1, 263, 539 12. 52 $1, 248, 939 10. 35 $1, 000, 840
Debt Redemption
Funds 2. 673 299, 900 3. O1 299, 200 3. 14 303, 400
Public Employees'
Retirement Fund 1. 096 123, OOa 1. 15 115, 000 1. 07 103, 000
Policemen's Pen-
sion Fund 222 24, 878 74 74, 126 75 72, 216
Firemen's Relief
Association 032 3, 580 35 34, 815 40 38, 815
1 Total Levy 15. 283 $1, 714, 897 17. 77 $1, 772, 080 15. 71 $1, 518, 271
9
1976 1975 1974
Assessed Valuation
Real Estate $109, 359, 171 97, 072, 593 94, 004, 953
Non-exempt personal
property 2, 800, 885 2, 852, 992 2, 657, 185
Fiscal disparities
adjustments 133, 422 460, 981 -0-
Total Assessed Valuation $112, 293, 478 $100, 386, 566 96, 662, 138
The financial condition of each fund as of DLcember 31, 1976 and
the results of each Fund's operations for the year, together with a com-
parison of these results to budget estimates and a comparison to the pre-
vious years' results, is presented within the financial statements section
of this report.
CITY'S FINANCIAL ACTIVITIES HIGHLIGHTS DURING 1976
The City's bo:�d rating was upgraded from a"Baal" by
Moody's Investment Service to an "A".
The City sold $98'J, OOD GeneraJ. Obligation Improvement
Bonds on October 18, 1976 at a net interest rate of 5. 0396°fo.
The City p�,id off $815, Oa0 principal of scheduled bond i
:n aturitie s
Total interest earnings of $592, 363 were distributed to the
par��icipating funds of the Investment Trust Fund.
The Departm�nt of Finance s?zccess.fully completed �:he con-
versio:� of its accounting functions to the joint powers LOGIS
(Local Governmental Information Systems) computer system.
The Financial Co�trol System, the Payroll-Personnel System
and the Utility Billina System are included in the system.
The Depar�ment b�gain the process :�.f automating its Fixed
Asset Control Systezn ':hrough LOGIS and that project is about
80% completed.
GEN� FUND
As of Decem�er 31, 1976, the fund balance of the General Fund
which had not been appr. opriated ;o a specific exp2nditure purpose totalled
$858, 464. This amount repres°nts the working capital that is available
to finance general operations of the City.
10 I
Considering the time lag relating to tax collections (approximately
seven months) and based on the anticipated needs of the 1977 budget, the
following is a summary of working capital needs, through July of 1977.
Anticipated Exp�anditures (First 7 months) $1, 932, 000
Anticipated Revenue Available (First 7 months) 1, 078, 000
Working Capital Deficiency until Tax Settlement 854, 000
The working capital accumulation appears to be conservatively
adequate without margin for down turn of revenues. It appears advise-
able that the entire fund balance shouYd be dedicated �to the working cap-
ital need �Nithout fur appropriation `o expenditure.
Revenues received £or general government operations totalled
$3, 199, 457 in 1976, an increase o.f $488, 85� over the previous year.
The follozving table presents an analysis of the major revenue sources
of the General Fun� for 1976 and its change from 1975:
Increase
of (Decrease)
Revenue Source 1976 To±al 1975 From 1975
Taxes, ad valorem $1, 274, 322 39. 8% $1, 25J, 304 24, 018
Shared taxes 925, 058 28. 9% 645, 441 279, 617
Charges for services 292, 842 9. 2�J 262, 269 30, 573
Inter-fund charges 27, 762 9% 44, 088 16, 326)
Licenses and permits 102, 339 3. 2�j 101, 380 959
Cour�t fines 48, 475 1. 5% 42, 940 5, 535
Other Income 177, 415 5. 5% 103, 298 74, 117
Transfers from other fu.nds 351, 244 11. 0% 257, 951 93, 293
Appropriations from fund
balance 2, 936 2, 936)
Tota1 Revenue $3, 199, 457 100. 0% $2, 710, 607 $488, 850
E enditures for eneral overnm�ntal o erations totalled
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$2, 960, 282 in 1976, an increase of $38�4, 417 over the previous year.
The following table presents a�1 analysis of the major expenditure functions
of the General Fund for 1976 and its change from 1975:
11
Increase
of (Decrease)
Expenditure By Function 1976 Total 1975 From 1975
General Goverriinent 722, 116 24. 4% 628, 341 93, 775
Public Safety 849, 672 28. 7% 761, 670 88, 002
Public Works 692, 545 23. 4% 599, 314 93, 231
Community Health Ser�vice 62, 014 2. 1% 43, 269 18, 745
Parks a�d Recreation 633, 935 21.4% 543, 271 90, 664
Total Expenditures $2, 960, 282 100. 0% $2, 575, 8fi5 $384, 417
The complete reporting of the General Fund financial operations and
position can be found in the General Fund Statements section of this report.
LEVY LIMITATIO�VS
Minnesota's Levy Limitation Law was first implemented in 1972
and has placed a limitatio� on the amount of increased property tax which
a city can levy. The amount o.f increase is generally limited io 6% per
capita per year. The following table summ�.rizes the City's compliance
with the law for 1976 and 1975:
1976 1975
To±al tax levy $1, 714, 897 $1, ?72, 08fl
Less special tax levies 486, 882 590, 5'J4
Limited levy $1, 228, 01,5 $1, 181, 576
Levy limitation 1, 6fl6, Oj0 l, 181, 576
Exc:ess or (Under) levy 378, 045) -0-
FISCAL DISPARITIES t
The State Legislature enacted a"Fiscal Disparity Law" in 1971
which was not implemented until taxes payable in 1975 due to a constitu-
tional challenge. The law provides for the "pooli.ng" of 40% of all new
commercial and industrial property valuation in the seven county metro-
politan area. Valu:�tion from this "pool" is redistributed to taxing juris-
dications according to specified criteria.
Although it is impossible to determine the future impact of the dis-
parity la�u on Brooklyn Center, the firs` three years of experience has
shown the City to be near the break-even point. The fiscal disparities
adjustments for the three years are shown as follows:
12
Year Assessed Assessed Value Net Gain
Taxes Value Contri- Received or
Payable buted to "Pool" from "Pool" (Loss)
1975 $2, 355, 241 2, 816, 222 $460, 981
1976 3, 746, 879 3, 880, 301 133, 422
1977 3, 726, 462 3, 525, 256 201, 206)
Three year
Total $9, 828, 582 $10, 221, 779 $393, 197
FEDERAL REVENUE SHARING
The City was allocated $197, 2�5 in Federal Revenue Sharing
funds during the calendar year 1976. During the year, the City Council
authorized transfers of $219, 701 to the General Fund and $17, 000 to
the Capital Projects Fund from the Federal Revenue Sharing Fund to
finance approved revenue sharing appropriations.
The complete reporting of the Federal Revenue Sharing Fund's
financial operations and position can be found in the Special Revenue
Funds Statements section of this report.
DEBT ADMINISTRATION
Outstanding general obligation bonds on December 31, 1976,
totalled $7, 110, 000 of which $4, 350, 000 was issued to provide permanent
financing for water, sanitary sewer, storm sewer and street assessments.
The repayment of these bonds is provided from the proceeds of special
assessments levied aginst the benefited property. Included also in the
outstanding G. O, bonds were 875, 000 of G. O. State Aid Street Bonds
which were issued to finance state aid projects and are repaid from state
allotments. The remaining $1, 885, 000 is direct tax supported debt which
is repaid by the proceeds of ad valorem tax levies. During the past year,
$780, 000 of general obligations bonds were retired and $980, 000 of gen-
eral obligation bonds were issued. The bonds were sold at a favorable
effective interest rate of 5.0396%.
Outstandin revenue bonds on December 31 1976 totaled 660 000.
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These are bonds issued in 1963 for improvements to the water utility
and are repaid from the pz�blic utilities revenues. During the past year,
$35, 000 of revenue bonds were retired.
The City's bond rating was improved during 1976 by Moody's
Investors Service from Baal to A.
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PUBLIC UTILITIES
Comparative data for the City's Public Utilities operations for
the past two fiscal years are shown in the following table;
1976 1975
Water Department operating revenues $547, 402 $449, 253
Sewer Department operating revenues 439, 754 446, 578
Water Department operating income 205, 684 180, 300
Sewer Department operating incozne or
(loss) 101, 836) 10, 937)
Combined utilities net income 356, 773 175, 732
Water customers at year end 7, 363 7, 199
Sewer customers at year end 8, 032 7, 967
The Water Department operating revenues .�re to be used to
finance system maintenance and future system expansion and improve-
ments.
The present sewer rates have been in effect since 1971. At
that time, rates were s�t to provide a five year level rate structure.
It was projected that the sewer operation would show an operating
income the first two years, break even the third year, show an oper-
ating deficit the last two years, and an overall sl.ight operating income
for the five year period. Those projections have been realized. A
rate study is currently in progress and a rate increase is anticipated
during the calendar year 1977.
The complete reporting of the Pu�lic Utilities' financial opera-
tions and position can be found in the Enterprise Funds Statements
s�ction of this report.
LIQUOR FUND
The City's three municipal off-sale liquor stores earned a com
bined net profit of $147, 143 for the calendar year ended December 31,
1976. The Liquor Fund transferred $140, 000 of these earnings during
the year to the General Fund �o assist in the financing of City operating
expenses. A condensed comparison of the stores' 1976 operations with
those of 1975 follows:
1976 1975
Sales $1, 928, 717 $1, 954, 223
Cost of sales 1, 557, 212 1, 578, 193
Gross profit on sales 371, 505 375, 030
Operating expenses 229, 920 231, 741
Net operating income 141, 585 144, 289
Interest and other income 5, 558 6, 613
Net Income 147, 143 150, 902
14
1975 1975
Transfers to th� General Fund 140, 000 125, 000
The complete rep�rting of the Liquor Fund's financial operations
and position can b2 found in the Enterprise Funds Statements section of
this report.
I INVESTMENT TRUST FUND
The Investment Trust Fund was established to provide a uniform
and consistent means for investing temporary surpluses of individual
City Funds. The Investmen` Trust Fund, in turn, invested these temporary
surpluses in obligations issued by the United States and its agencies, bank
certificates of dep�sits, repurchase agreements, savings and loan assoc-
iations' savings certificates and City of Brooklyn Center construction
notes issued to provide temporary financing for construction in the
special assessment funds.
The average yield on investments during the year was 6. 87% and
the Fund distributed $592, 363 �_n interest earnings to the participating
funds.
The complete reporiing of the Investment Trust Fund's financial
operations and position can be found in the Trust and Agency Funds
Statements section of this report.
SPECIAL ASSESSMEITT FUNDS
Special Assessment Funds are used to finance and account for
the construction and financing of certain public improvements such as
residential streets, storm sewers, sanitary sewers, and water mains
which are to �e paid for wholly or in part from special assessments
levied against benefited property. The Special Assessment Funds are
also used to account for assessments levied against the individual pro-
perty owners yvhich are usually paid in installments over a period of
years. During 1976, the City assessed $131, 045 of benefits to property
owners.
The complete reporting of the Sp�cial Ass�ssment Fund's finan-
cial operations and p�sition can be found in the Special Assessments
Funds Statements s�ction of this report.
t
15
GENERAL FIXED ASSETS
The general fixed assets of the City are those fixed assets used
in the p�rformance of general governmental functions and exclude the
fixed assets of the Public Utilities Fund and the Liquor Fund. As of
December 31, 1976, the general fixed assets of the City amount to
$15, 289, 756, based on ��riginal cost. Depreciation of general fixed
assets (other than for enterprise fund, i. e. Public Utilities and Liquor)
is not recognized in the City's accounting system or in these financial
statements. The Department is in the process of automating its fixed
asset control system and that project is about 80% completed. The
system will provide computations of depreciation for a11 depreciable
fixed assets in such manner that information is readily available for
management purposes.
The complete rep�rting of the General Fixed Assets accounting
can be found in the Gen�ral Fixed Asset Statemen* s�ction of this report.
INDE �ENDE I�TT AUDIT
Sectio,:i 7. 12 of the City Charter reqczires that the City Manager's
annual report to the Council concerning the entire financial system of
the City be audited. This requirement has been complied with and the
auditor's opinio:� has been includ�d in this repor�t.
Res ectfull submitted,
P Y
Q�.�.w. 1
Pa�.zl W Holmlurid
Directo.r of Finance
16
MOEN AND PENTTILA
CERTIFIED PUBLIC ACCOUNTANTS
SUITE 203 VALLEY SOUTH BUILDING
NE�.tBEa OF 6950 WAYZATA BOULEVARD 612 546•3306
AMERICAN INSTITUTE OF CERTIFIEO PUBLIC ACCOUNTANTS MINNEAPOLIS. MINNESOTA 55426
May 2, 1977
Honorable City Council
City of Brooklyn Center, Minnesota
We have examined the financial statements of the various funds
and account groups of the City of Brooklyn Center for the year ended
December 31, 1976 listed in the foregoing table of contents. Our exam-
ination 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 circum-
stances.
In our opinion, the aforementioned financial statements present
fairly the financial position of the various funds and account groups of
the City of Brooklyn Center at December 31, 1976, and the results of
operations of such funds and the changes in financial position of the
Public Utility Fund and Municipal Liquor Fund for the year then ended,
in confor.mity with generally accepted accounting principles applied on
t a basis consistent with that of the preceding year.
Respectfully submitted,
Oiva Penttila
Certified Public Accountant
MOEN PENTTILA
Field work completed April 22, 1977.
Report signed May 2, 1977. 17
Exhibit 1
COMBINED BALANCE SHEET
ALL FUNDS AND ACCOUNT GROUPS
1 (CONDENSED FORM)
DECEMBER 31. 1976
1
1
1
1
1
1
1
i
1
1
City of Brooklyn Center Exhibit 1
COMBINED BALANCE SHEET ALL FUNDS AND ACCOUNT GROUPS (CONDENSED FORM)
December 31, 1976
Special Debt Capital Public Enter- Trust and Special General General
Total (Memo- General Revenue Service Projects prise Funds Agency Funds Assessment Fixed Debt
randum only, Fund Funds Funds Funds (Exhibit 12 &(Exhibit 21 Funds Assets Group and Interest
See Note 2) (E�chibit 3) (Exhibit 6) (Exhibit 8) (Exhibit 10) Eachibit 15) Eachibit 24) (Exhibit 27 (Exhibit 31 (Exhibit 32)
Assets and Resources
Cash on hand in depositories 103, 745 9. 170 9, 277 3, 700 81, 598
Temporary investments 8, 974, 117 696, 356 $469, 199 235, 064 $1, 983, 850 3, 549, 083 116, 372 $1, 924, 193
Accounts receivable 132, 057 24, 442 106, 181 1, 434
Taxes receivable (Schedule 1) 281, 897 203, 017 50, 120 53 28, 707
Due from other funds 174, 018 61, 420 76, 684 1, 038 34, 876
Due from other governmental units 466, 829 22, 353 50, 701 1 118, 535 268, 477 1, S90 4, 872
Inventories and supplies 170, 223 27, 591 957 141, 675
m
Work orders/construction in progress 646 646
Accrued revenue 247 667 92 200 155 467
Special assessment receivables 4, 304, 634 151, 443 4, 153, 191
Securities held for investment (Schedule 3) 9, 738, 274 75, 000 9, 663, 274
Prepaid expenses and deferred charges 27, 713 1, 307 26, 406
Fixed assets (net of depreciation where
applicable) 25, 425, 640 10, 135, 884 $15, 289, 756
Unassessed construction 17,000 17,000
Amount available general debt and interest 294, 462 294, 462
Amount to be provided general debt and
interest 3, 970, 415 3, 970, 415
Totals $54, 329, 337 $1, 044, 995 $520, S57 $294, 462 $2, 102, 438 $14, 601, 634 $10, 048, 346 $6, 161, 972 $15, 289, 756 $4, 264, 877
r
Liabilities
Vouchers and accounts payable 149, 353 49, 277 1, 543 1, 266 68, 070 27, 301 1, 896
Accrued sales tax 9, 748 9, 748
Accrued expenses 886,398 80,644 45,835 746,233 13,686
Contracts payable 32,695 2,339 30,356
Assessments payable 233, 152 233, 152
Due to other funds 174, 018 2, 776 37, 567 12, 147 11, O61 110, 467
Temporary construction loans and advances 126, 000 126, 000
i
Bonds payable (Schedule 2) 7, 770, 000 660, 000 4, 350, 000 2, 760, 000
Interest payable fn future years (general debt) 1, 271, 725 1, 271, 725
Due funds participating in investment trust fund 8, 974, 117 8, 974, 117
Customer and contractor deposits 26, 299 675 25, 624
Total Liabilities $19, 653, 505 132, 697 39, 110 15, 752 825, 745 9, 773, 275 $4, 602, 049 $4, 264, 877
Surplus, Reaerves and Fund Balances
Surplus and reserves set aside 3, 908, 918 53, 834 $186, 833 $1, 401, 363 2, 255, 709 11, 179
Contributed surplus 9, 803, 872 9, 803, 872
Investment in general fixed assets 15, 289, 756 $15, 289, 756
Unexpended appropriations, authoriza-
tions and balances 5, 673, 286 S5S, 464 294, 914 $294, 462 685, 323 1, 716, 308 275, 071 1, 548, 744
I Total Surplus, Reserves and
Fund Balances $34, 675, 832 912, 298 $481, 747 $294, 462 $2, 086, 686 $13, 775, 889 275, 071 $1, 559, 923 $25, 289, 756
Totals $54, 329, 337 $1, 044, 995 $520, 857 $294, 462 $2, 102, 438 $14, 601, 634 $10, 048, 346 $6, 161, 972 $15, 289, 756 $4, 264, 877
(See notes to financial statements)
This statement is an integral part of report dated April 22, 1977.
City of Brooklyn Center Exhibit 2
COMBINED STATEMENT OF REVENUE EXPENDITUR.ES AND ENCUMBRANCES
General and Special Revenue Funds
For the Year Ended December 31, 1976
Federal
Park Revenue Eluninations
General Concessions Sharing and Combined Statement
Fund Fund Fund Total Adjustments 1976 1975
Revenues and Transfers
Ad valorem taxes $1, 274, 322 $1, 274, 322 1, 274, 322
$1, 250, 304
Shared taxes 925, 058 $197, 205 1, 122, 263 1, 122, 263 822, 851
Charges for services 292, 842 3, 540 296, 382 296, 382 266, 990
Inter-fund charges 27, 762 27, 762 27, 762 44, 088
Licenses and permits 102,339 102,339 102,339 101,380
Court fines 48, 475 48, 475 48, 475 42, 940
Other income 177, 415 209 36, 466 214, 090 214, 090 132, 736
N
O
Transfers from other funds 351, 244 351, 244 $(211, 244) 140, 000 147, 262
Appropriation of fund balance 2, 936
Total $3, 199, 457 3, 749 $233, 671 $3, 436, 877 $(211, 244) $3, 225, 633 $2, 811, 487
Expenditures and Encumbrances
General government 722, 116 722, 116 722, 116 628, 341
Public safety and welfare 849, 672 849, 672 849, 672 761, 670
Public works 692, 545 692, 545 692, 545 595, 314
Community health services 62, 014 62, 014 62, 014 43, 269
Parks and recreation 633, 935 3, fi48 637, 583 637, 583 550, 612
Other $228,244 228,244 $(211,244) 17,000 153,702
Total $2, 960, 282 3, 648 $228, 244 $3, 192, 174 $(211, 244) $2, 980, 930 $2, 736, 908
(See notes to financial statements)
This statement is an integral part of report dated April 22, 1977.
Schedule 1
City of Brooklyn Center
COMBINED SCHEDULE OF TAXES RECEIVABLE BY FUNDS
Debt Capital Trust
General Service Projects and Agency 1976 1975
Taxes Receivable by Year Fund Funds Funds Funds Total Total
1970 30 14 9 53 189
1971 3, 583 840 53 777 5, 253 5, 814
1972 4, 566 1, 238 907 6, ?11 7, 455
1973 6, 726 2, 218 1, 201 10, 145 10, 929
1974 15, 584 4, 725 3, 336 23, 645 27, 448
1975 30, 029 7, 193 5, 388 42, 610 49, 977
1976 39, 343 9, 419 4, 713 53, 475
N
Delinquent Taxes Receivable 99, 861 2 5, 647 53 16, 331 $141, 892 $101, 812
Current Taxes Receivable 103, 156 24, 473 12, 376 140, 005 42, 839
Taxes Receivable $203, 017 50, 120 53 28, 707 $281, 897 $144, 651
(E�ibit 3) (Exhibit 8) (Exhibit 10) (Exhibit 21) (E�ibit 1)
(See notes to financial statements)
This statement is an integral part of report dated April 22, 1977.
Cit,y of Broolclyn Center Schedule 2
COMBINED SCHEDULE OF BONDS PAYABLE
December 31, 1976
Date Date
INTEREST of of B O N D S
Rate Dates Issue Maturity Annual Payxnents Authorized Issued Retired Outstandin�
General Obligation Bonds
Park Bonds #1 4. OOqo 1/ 1 7/ 1 4/ 1/58 1/ 1/80 5, 000 (78-80) 100, 000 100, 000 85, 000 15, 000
ParkBonds #2 3.60% 1/1 7/1 7/1/58 1/1/80 5,000 (78-80) 100,000 100,000 85,000 15,000
Park Bonds #3 4.30"/0 1/1 7/1 7/1/59 1/1/81 5,000 (78-81) 100,000 100,000 80,000 20,000
Park Bonds #4 4.50% 1/1 7/1 4/1/BO 1/1/81 5,000 (78-80) 100,000 100,000 75,000 25,000
10,000 (81)
1969 Building Improvement Bonds 6.50% 1/1 7/1 7/ 1/69 1/1/90 130, 000 (78) 2, 280, 000 2, 280, 000 550, 000 1, 730, 000
135,000 (79)
125,000 (80)
115,000 (81)
120,000 (82)
125,Q00 (83j
130,000 (84)
135,000 (85-86)
140,000 (87-88)
150,000 (89-90)
Library Bonds 3. 80% 1/1 7/ 1 1/ 1/66 1/1/85 10, 000 (78-85) 190, 000 190, 000 110, 000 S0, 000
G. O. State Aid Bonds 6. 00"Jo 3/ 1 9/ 1 1/ 1/70 3/ 1/91 55, 000 (77-79) 1, 050, 000 1, 050, 000 175, 000 875, 000
6.25% 55,000 (80-81)
60,000 (82)
6.30^fo 60, 000 (83)
6.40"Jo 60, 000 (84)
6. 50�Jo 60, 000 (85)
6. 60"/0 60, 000 (86)
6. 65% 60, 000 (87)
N
s. ��q0 s� ��0 �88�
6. 75% 60, 000 (89-91)
Total General Obligation Bonds (Exhibit 31) 3, 920, 000 3, 920, 000 1, 160, 000 2, 760, 000
Public Utilities Revenue Bonds 3.90% 1/1 7/1 7/1/63 1/1/93 35,000 (78-81)
40,000 (82-85)
45,000 (86-93)
Total Public Utilities Revenue Bonds (Exhibit 15) 1, 000, 000 1, 000, 000 340, 0 00 660, 000
Special Assessment Bonds
1958 A Improvement Bonds 4. 00% 1/ 1 7/ 1 4/ 1/58 1/ 1/79 25, 000 (78-79) 530, 000 530, 000 480, 000 50, 000
1958BImprovementBonds 3.60% 1/1 7/1 7/1/58 1/1/79 15,000 (78-79) 390,000 390,000 360,000 30,000
1959 A& B Improvement Bonds 4. 50% 1/1 7/1 4/ 1/60 1/1/81 30, 000 (78-79) 630, 000 630, 000 535, 000 95, 000
30,000 (80)
15,000 (81)
1960 AB Improvement Bonds 4, 20% 1/ 1 7/ 1 12/ 1/60 1/ 1/81 30, 000 (78) 1, 653, 000 1, 653, 000 1, 353, 000 300, 000
3. 00% 30, 000 (79-81)
4.20"fo 7/1/61 45,000 (78-81)
1961 AB Improvement Bonds 3. 75% 1/ 1 7/ 1 4/ 1/62 1/1/82 30, 000 (78-82) 1, 025, 000 1, 025, 000 735, 000 290, 000
s.sogb i/i/ss z/i/aa 20,00o t�s-�s)
3. 70Q/o 20, 000 (80-84)
1964 Improvement Bonds 3.40% 1/ 1 7/ 1 10/ 1/64 1/ 1/85 30, 000 (78) 636, 000 636, 000 451, 000 185, 000
3.50% 30,000 (79-80)
3.60"fo 20,000 (81-84)
15,000 (85)
1965ImprovementBonds 3.80% 1/1 7/1 1/1/66 1/1/86 15,000 (78) 345,000 345,000 250,000 95,000
10,000 (79-86)
1968 Improvement Bonds 4. 50% 1/ 1 7/ 1 4/ 1/68 1/ 1/88 25, 000 (78) 750, 000 750, 000 485, 000 265, 000
30,000 (79-81)
4.70°fo 30, 000 (82-83)
20,000 (84-85)
4.50°/ 20,000 (86-87)
10,000 (88)
1969ImprovementBonds 6.50°Jo 1�1 7/1 7/1/69 1/1/89 25,000 (78-85) 755,000 755,000 475,000 280,000
20,000 (86-89)
1970 A Improvement Bonds 6. 00"jo 1/ 1 7/ 1 7/ 1/70 1/ 1/ 90 165, 000 (78) 2, 290, 000 2, 290, 000 1, 045, 000 1, 245, 000
125,000 (79)
6.25% 125,000 (SO-82)
6.30�fo 125, 000 (83)
6.40% 125, 000 (84)
6. 50°Jo 125, 000 (85)
6. 60°Jo 125, 000 (86)
6.65Q/o 20, 000 (87)
6.70°fo 20, 000 (88)
6.75% 2�J�000 (89-90)
1975 Improvement Bonds 4. 50°fo 1/ 1 7/1 4/ 1/73 1/1/85 50, 000 (78) 745, 000 745, 000 210, 000 �35, 000
4. 55Q/o 50, 000 (79)
4. 60afo 50, 000 (80)
4.65% 50,000 (S1)
4.70"fo 50,000 (82)
4. 75% 50, 000 (83)
4. 80'jo 5Q 000 (84)
4. 875% 185, 000 (85)
1976 Improvement Bonds 4.50°jo 2/1 8/1 11/1/76 2/1/91 80, 000 (78-70) 980, 000 980, 000 980, 000
4.75% 80,000 (80-82)
5.00% 75,000 (83)
70,000 (84)
65,000 (85-87)
5. 10% 60, 000 (88)
5. 20�fo 60, 000 (89)
5. 30% 60, 000 (90)
5.40�fo 60, 000 (91)
Total Special Assessment Bonds (Exhibit 26) $10, 729, 000 $10, 729, 000 6, 379, 000 4, 350, 000
N
W
Grand Total Bonds Payable (Exhibit 1) $15, 649, 000 $15, B49, 000 7, 879, 000 7, 770, 000
(See notes to Financial statements)
This statement is an integral part of report dated April 22, 1977.
City of Brooklyn Center Schedule 3
SCHEDULE OF INVESTMENTS
December 31, 1976
Receipt or
Certification Interest Date of Par Unamortized Unamoritzed Book
Number Rate Maturity Value Premium Discount Value
Police Pension Fund
U.S. Treasury Notes 129481 8.00% 2-15-83 30,000 30,000
Federal Land Bank Conslidated Bonds 181623M 7. 62% 7-21-80 100, 000 346 99, 654
Federal Land Bank Consolidated Bonds 183119M 8. 10% 7-22-55 100, 000 100, 000
Federal Home Loan Bank Notes 190583M 7. 75"jo 11-25-80 100, 000 100, 000
Federal Home Loan Bank Notes 126173 8. 625% 2-25-82 30, 000 30, 000
Federal Home Laan Bank Notes 127711 8. 10% 11-25-85 100, 000 100, 000
Federal Home Loan Bank Notes 5638M 7.79"Jo 2-25-80 25, 000 21 24, 979
Federal National Mortgage Association Debentures 140239 7. 13% 3-10-81 25, 000 66 24, 934
Federal National Mortgage Association Debentures 109559 7. 12% 6-10-92 30, 000 131 29, 869
Federal National Mortgage Association Debenturea 131567 8. 10"Jo 6-10-83 150, 000 150, 000
Federal National Mortgage Association Debentures 134279 6.45°jo 12-10-81 85, 000 85, 000
Federal National Mortgage Association Debentures 134375 6. 39% 12-11-78 35, 000 208 35. 208
Federal National Mortgage Association Debentures 130260 6. 55% 12-10-79 10, 000 10, 000
Federal National Mortgage Association Debentures N/A 6. 03% 6-10-82 35, 000 882 35, 882
Federal National Mortgage Association Debentures 134070 6. 90°/a 12-10-84 30, 000 186 30, 186
Total Investments (Exhibit 21) 885, 000 1, 276 564 885, 712
Public Utilities Fund
U. S. Treasury Notes (Eshibit 15) 46387 4. 25% 8-15-92 75, 000 75, 000
Investment Trust Fund
Certificate of Deposit Marquette National Bank N/A 5. 15% 1-17-77 300, 000 300, 000
Certificate of Deposit Marquette National Bank 134602 4. 70% 1-27-77 500, 000 500, 000
Certificate of Deposit Fidelity State Bank 12814 4.35% 1-28-77 200, 000 200, 000
Certificate of Deposit Fidelity State Bank 12799 5. 15% 2-17-77 1, 000, 000 1, 000, 000
Certificate of Deposit First Plyxnouth State Bank 1133 4. 85% 1-3-77 100, 000 100, 000
Ninety Day Demand Accounts, Twin City Federal 9227000374 5. 75% 5-6-77 100, 000 100, 000
A Ninety Day Demand Accounts Hennepin Federal 057-000337. 8 5. 50% 6-3-77 100, 000 100, 000
Ninety Day Demand Accounts Midwest Federal 10-106602-5 5.50% 6-3-77 100,000 100,000
U. S. Treasury Bills 133799 4. 862% 2-3-77 500, 000 2, 296 497, 704
U. S. Treasury Notes 129481 8.00% 2-15-83 120,000 120,000
Repurchase Agreement Marquette Bank N/A 4.40"/0 1-11-77 150, 000 150, 000
Federal Land Bank Bonds 186349M 8. 13% 1-20-82 325, 000 4, 119 320, 881
Federal Land Bank Bonds 183103M 8. 10% 7-22-85 200, 000 200, 000
Federal Intermediate Credit Bank Bonds 130936 5. 60% 2-1-77 200, 000 200, 000
Federal Intermediate Credit Bank Bonds 214363M 6. 34% 3-1-77 300, 000 41 299, 959
Federal Home Loan Bank Bonds 127710/ 190583M 7. 75% 11-25-80 435, 000 435, 000
Federal Home Loan Bank Bonds 126173 8.625% 2-25-82 230, 000 230, 000
Federal Home Loan Bank Bonds 127711 8. 10% 11-25-85 100, 000 100, 000
Ban�cs for Co-ops Bonds z26777M 5.20"Jo 6-1-77 350, 000 350, 000
Banks for Co-ops Bonds 126888 8. 55% 10-2-78 250, 000 250, 000
Federal National Mortgage Association Bonds 118697M 7. 20% 6-10-77 100, 000 100, 000
Federal National Mortgage Association Bonds 131565 7.45% 9-11-78 150, 000 150, 000
Federal National Mortgage Association Bonds 195232M 8. 72% 9-10-80 200, 000 185 200, 185
Federal National Mortgage Association Bonds 84426M 6. 60% 12-10-80 110, 000 110, 000
Federal National Mortgage Association Bonds 127967 8. 00"jo 12-10-80 200, 000 689 199, 311
Federal National Mortgage Association Bonds 131566 7. 95% 6-10-81 150, 000 150, 000
Federal National Mortgage Association Bonds 134279 6.45% 12-10-51 610, 000 610, 000
Federal National Mortgage Association Bonds 127260 8. 60% 10-11-82 250, 000 250, 000
Federal National Mortgage Association Bonds 131567 8. 10% 6-10-83 50, 000 50, 000
Federal National Mortgage Association Bonds 127968 8.07% 12-12-83 200, 000 611 199, 389
Federal National Mortgage Association Bonds 124776 8.00°jo 12-12-83 200, 000 108 199, 892
Federal National Mortgage Association Bonds 125330 8.20"Jo 7-10-84 500, 000 262 499, 738
Federal National Mortgage Association Bonds 125331 8.23% 7-10-84 380, 000 497 379, 503
City of Brooklyn Center Temporary Improvement Notes 6. 00% Various 126, 000 126, 000
Total Investments (Exhibit 23) $8, 786, 000 185 8, 623 $3, 777, 562
Grand Total Investments (Eachibit 1) $9, 746, 000 1, 461 9, 187 $9, 738, 274
(See notes to financial statements)
This statement is an integral part of report dated April 22, 1977.
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.
e
Exhibit 3
City of Brooklyn Center
General Fund
BALANCE SHEET
December 31,
ASSETS 1976 1975
Cash on hand and in depositories 9, 170 14, 514
Temporary investments (Exhibit 26) 696, 356 387, 666
Due from other £unds 61, 420 259, 634
Accounts receivable 24, 442 28, 367
Taxes receivable (Schedule 1) 203, 017 99, 886
Due from other governmental units 22, 353 12, 457
Inventory of supplies 27, 591 24, 136
Work orders in progress to be biZled 646 91
Expenditures chargeable against the
1976 budget 14, 986
Total $1, 044, 995 841, 737
LIABILITIES, RESERVES AND FUND BALANCE
Liabilities
Vouchers payable 49, 277 41, 119
Accrued salaries and withholdings 80, 644 64, 023
Due to other funds 2, 776 64, 995
Total Liabilities 132, 697 170, 137
Reserves
Reserve for encumbrances 44, 019 42, 496
Total Reserves 44, 019 42, 496
Fund Balance
Appropriated for 1977 and 1976 budgets 9, 815 10, 000
Available for appropriation 858, 464 619, 104
Total Fund Balance (Exhibit 4) 868, 279 629, 104
Total $1, 044, 995 841, 73?
(Exhibit 1)
(See notes to financial statements)
This statement is an integral part of report dated April 22, 1�77.
25
E xhibit 4
City of Brooklyn Center
General Fund
STATEMENT OF CHANGES IN FUND BALANCE
i
1976 1975
Fund Balance, January 1 629, 104 497, 298
Add: Revenue (E�ibit 5) $2, 848, 213 $2, 449, 720
Transfers-in (Exhibit 5) 351, 244 260, 887
Total Additions $3, 199, 457 $2, 710, 607
Deduct: Expenditures and encumbrances
(Exhibit 5) $2, 960, 282 $2, 575, 865
Appropriated subsequent year
budget 2, 936
Total Deductions $2, 960, 282 $2, 578, 801
Fund Balance December 31, (Exhibit 3) 868, 279 629, 104
(See notes to financial statements)
This statement is an integral part of report dated Apri1 22, 1977.
26
Exhibit 5
City of Brooklyn Center
General Fund
STATEMENT OF REVENUES, APPROPRIATIONS FROM FUND BALANCE,
EXPENDITURES, ENCUMBRANCES AND TRANSFERS
1976 Actual
Amended Over (Under) 1975
Budget Actual Budget Actual
Revenues (Schedule 5-A)
Ad Valorem taxes $1, 288, 539 $1, 274, 322 14, 217) $1, 250, 304
Shared taxes 925, 058 925, 058 -0- 645, 441
Charges for services 282, 445 292, 842 10, 397 262, 269
Inter-fund charges 58, 624 27, 762 30, 862) 44, 088
Licenses and permits 105, 000 102, 33J 2, 661) 101, 380
Court fines 45, 000 48, 475 3, 475 42, 940
Other income 166, 751 177, 415 10, 664 103, 298
Total Revenues $2, 871, 417 $2, 848, 213 23, 204) $2, 449, 720
Transfers from other funds 359, 701 351, 244 8, 457) 257, 951
Appropriations from fund
balance 2, 936
Total $3, 231, 118 $3, 99, 457 31, 661) $2, 710, 607
Exp�nditures and Encumbrances
(S che dule 5 -B
General government 782, 145 722, 116 60, 029) 628, 341
Public safety and welfare 872, 890 849, 672 23, 218) 761, 670
Public works 817, 101 692, 545 (124, 556) 599, 314
Community health services 63, 606 62, 014 1, 592) 43, 269
Parks and recreation 639, 625 633, 935 5, 690) 543, 271
Other 55, 751 55, 751)
Tota1 $3, 231, 118 $2, 960, 282 $(270, 836) $2, 575, 865
Excess of revenues, trans-
fers in and appropriations
from fund balance over
.expenditures, encumbrances
and transfers-out -0- 239, 175 239, 175 134, 742)
(See notes to financial statements)
This statement is an integral part of report dated April 22, 1977.
27
Schedule 5-A
City of Brooklyn Center
General Fund
STATEMENT OF REVENUE BUDGET AND ACTUAL 06JECTIVE CLASSIFICAT�ON
Actual
Final Over (Under)
Budget Actual Iiudget
Ad Valorem Taxes
Real estate taxes $1, 263, 539 $1, 263, 638 99
Penalties and interest on tax bills 25, 000 10, 684 14, 316)
Total Ad Valorem Taxes $1, 288, 539 $1, 274, 322 14, 217)
Shared Taxes
Governmental aids per 1973 Minnesota legislature 925, 058 925, 058 -0-
Charges for Services
Recreation 273, 210 281, 128 7, 91$
Sale of maps 500 273 z27)
Zoning and platting fees 2, 000 1, 886 114)
Burglar and fire alarm service 3, 000 4. 301 1, 301
Weed cutting 1, 000 785 215)
Assessment searches 1, 625 3, 035 1, 410
Other charges 1, 110 1, 434 324
Total Charges for Services 282, 445 292, 842 10, 397
Inter Fund Charges
Engineering, clerical and labor 40,000 8,076 31,924)
Public utilities (administration) 18, 624 19, 686 1, 062
Total Inter Fund Charges 58, 624 27, 762 30, 862)
Licenses and Permits
Liquor and beerlicenses 33,418
E3uilding permits 19, 822
Rental dwelling licenses 9, 174
Dog permits 5, 694
Electrical permits 8, 811
Heating permits 6, 872
Plumbing permits 3, 228
Foodlicenses 3.062
Sewer and water permits 2, 31�
Bicycle licenses 1, 634
Vehicle licenses 1, 025
Heating licenses 1, 062
Cigarette licenses 756
Sign permits 1, 401
Swimming pool licenses 1, 025
Miscellaneous business licenses 730
Garbage 634
Service stations 754
Taxicab licenses 500
Bowling alleys 170
All other licenses and permits 252
Total Licenses and Permits 1�5, 000 102, 339 2, 661)
Court Fines
Costs and fees 45, 000 48, 475 3, 475
Other Income
Rental of property 11, 000 9, 237 1, 763)
Grants 141,672 135,351 6,321)
Civil deFense reimbursements 9, 362 8, 546 i 816)
Interest on temporary investments -0- 14, 421 14, 421
Miscellaneous 4, 484 9, 627 5, 143
Gifts 233 233
Total Other Income 166, 751 177, 415 10, 664
Transfers From Other Funds
Federal revenue sharing fund (Exhibit 7) 219, 701 211, 244 8, 457)
Liquor fund (Exhibit 13) 140, 000 140, 000
Total Transfers From Other Funds 359, 701 351, 244 8, 457)
Total Revenues, Transfers and Appropriations (Exhibit 5) $3, 231, 118 $3, 199, 457 31, 661)
(See notes to financial statements)
This statement is an integral part of report dated April 22, 1977.
28
City of Brooklyn Center Schedule 5-B
General Fund
STATEMENT OF EXPENDITURES AND ENCUMBRANCES BUDGET AND
ACTUAL CLASSIFIED AS TO ACTIVITY, CHARACTER AND OBJECT
1976 1975 1976 Expenditures and Encumbrances Classified by Character and Object
Amended Expenditures and Over (Under) Expenditures and Personal Contracted Capital
Budget Encumbrances Bud�et Encumbrances Service Service Commodities Other Outlays
General Government
Mayor and council 37, 034 32, 436 4, 598) 32, 649 17, 345 5, 547 9, 544
Elections and voter registration 7, 822 7, 643 179) 4, 277 2, 676 4, 773 194
Administrative office 244, 466 220, 048 24, 418) 196, 906 136, 353 62, 7�7 12, 637 7, 374 977
Assessor's office 58, 197 52, 076 6, 121) 51, 557 48, 174 3, 470 233 199 I
Accounting and internal audit 91, 134 90, 749 385) 83, 779 65, 100 25, 370 80 199
Independent audit 15,622 15,622 13,079 15,622 I
Legal 72, 850 70, 389 2, 461) 50, 949 69, 411 978
Charter commission 1, 500 1, 273 2�7) 55 1, 166 107
General government building 253, 520 231, 880 21, 640) 195, 090 115, 198 92, 461 10, 892 57 13, 272
Total General Government 782, 145 722, 116 60, 029) 628, 341 384, 846 $280, 527 25, 041 17, 055 14, 647 i
Public Safety and Welfare
Police protection 708, 667 698, 834 9, 833) 627, 231 633, 243 12, 817 12, 525 15, 473 18, 776
Fire protection 50, 364 49, 379 985) 40, 776 33, 239 2, 443 2, 739 3, 348 7, 610
Protective inspection 81, 143 73, 121 8, 022) 61, 581 65, 051 7, 329 201 180 360
Civil defense 21, 466 19, 256 2, 210) 21, 294 14, 316 3, 160 81 31 1, 668
Animal control 10, 500 8, 457 2, 043) 10, 100 S, 457
Weed eradication 750 625 125) 688 625
Total Public Safet,y and Welfare 872, 890 849, 672 23, 218) 761, 670 751, 849 34, 831 15, 546 19, 032 28, 414
Public Works
Engineering department 165, 822 138, 190 27, 632) 129, 382 135, 666 663 1, 510 181 170
Street department 405, 407 313, 621 91, 786) 315, 911 166, 628 886 97, 031 10 49, O66
Maintenance shop 163, 952 162, 682 1, 270) 83, 809 59, 483 18, 680 82. 835 1, 684
Street and traffic lighting 81, 920 78, 052 3, 868) 70, 212 78, 052
Total Public Works 817, 101 692, 545 $(124, 556) 599, 314 361, 777 98, 281 $181, 376 191 50, 920
Community Aealth Services
Health regulation 20, 000 20, 823 823 19, 699 20, 823
Nursing service 18, 500 18, 477 23) 13, 717 18, 477
Detached worker program 25,106 22,714 2,392) 9,853 22,714
Total Community Health Services 63, 606 62, 014 1, 592) 43, 269 62, 014
Parks and Recreation
Supervision ar.d recreation 103, 005 105, 838 2, 833 217, 186 91, 919 9, 874 3, 389 457 199
Adult programs 50, 100 48, 651 1, 449) 44, 516 1, 864 34, 293 12, 494
Teen programs 11, 240 11, 578 338 10, 906 6, 258 4, 498 822
Children's programs 50, 963 41, 486 9, 477) 44, 586 25, 710 8, 512 7, 264
General programs 35, 550 34, 194 1, 356) 37, 204 18, 777 14, 710 707
Community center 121, 935 133, 773 11, 838 116, 373 S1. 306 4, 578 22, 772 21,130 3, 987
Park maintenance and improvement program 266, 832 258. 415 8, 417) 72, 500 155, 004 20, 991 21, 048 61, 372
Total Parks and Recreation 639, 625 633, 935 5, 690) 543, 271 380, 838 97, 456 68, 496 21, 587 65, 558
Other
I Contingency appropriation 55, 751 55, 751)
Total Expenditures and Encumbrances $3, 231, 118 $2, 960, 282 $(270, 836) $2, 575, 865 $1, 879, 310 $573, 109 $290, 459 57, 865 $159, 539
(Exhibit 5)
(See notes '.o financial statements)
This statement is an integral part of report dated April 22, 1977.
SP�CIAL 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.
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City of Brooklyn Center Exhibit 6
Special Revenue Funds
COMBINED BALANCE SHEET
Park Federal Combined Statement
Concessions Revenue Sharing December 31,
ASSETS Fund Fund 1976 1975
Temporary investments (Exhibit 26) 209 $468, 990 $469, 199 $450, 487
Due from other governmental units 50, 701 50, 701 47, 890
Inventory 957 957
Totals 1, 166 $519, 691 $520, 857 $498, 377
LIABILITIES AND FUND BALANCE
Vouchers payable 1, 543 1, 543 71
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Due to other funds 769 36, ?98 37, 567 22, 087
0
Total Liabilities 2, 312 36, 798 39, 110 22, 158
Fund Balance
Appropriated fund balance $186, 833 $186, 833 $174, 254
Fund balance (deficit) (Exhibit 1, 146) 296, O60 294, 914 301, 965
Total Fund Balance 1, 146) $482, 893 $481, 747 $476, 219
Totals 1, 166 $519, 691 $520, 857 $498, 377
(Exhibit 1)
I (See notes to financial statements)
This statement is an integral part of report dated April 22, 1977.
City of Brooklyn Center Exhibit 7
Special Revenue Funds
COMBINED STATEMENT OF REVENUES, EXPENDITURES
AND FUND BALANCES
Park Federal Combined Statement
Concessions Revenue Sharing December 31,
Fund Fund 1976 1975
Revenues
Federal revenue sharing grants $197, 205 $197, 205 $177, 410
Interest earnings 209 36, 466 36, 675 29, 328
Concession receipts 3, 540 3, 540 4, 721
Total Revenue 3, 749 $233, 671 $237, 420 $211, 459
Expenditures
Purchases for resale 3, 648 3, 648 3, 329
Purchases of equipment 4, 012
Transfers to General Fund (Schedule 5A) $211, 244 211, 244
Transfers to Capital Projects Fund
(Exhibit 10) 17, 000 17, 000 264, 391
Total Expenditures and Transfers 3, 648 $228, 244 $231, 892 $271, 732
Excess (Deficiency) of Revenue Over
Expenditures and Transfers to Fund Balance 101 5, 427 5, 528 60, 273)
Fund Balance (Deficit), January 1 1, 247) 303, 212 301, 965 434, 153
Appropriated by Council Resolution 12, 579) 12, 579) 71, 915)
Fund Balance (Deficit) December 31 (Exhibit S) 1, 146) $296, 060 $294, 914 $301, 965
(See notes to financial statements)
This statement is an integral part of report dated April 22, 1977.
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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.
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I City of Brooklyn Center Exhibit 8
Debt Servi.ce Funds
I COMBINED BALANCE SHEET
State Aid Improvement Combined Statement
Park Library Street Building December 31,
ASSETS Bonds Bonds Bonds Bonds 1976 1975
Cash on hand and in depositories 9, 277 9, 277
Temporary investments (Exhibit 26) 74, 533 $101, 862 1, 172 57, 49? 235, 064 $213, 876
Due from other funds 29, 362
Due from other governmental units 1 1 162
Taxes receivable (Schedule 1) 4, 428 45, 692 50, 120 2. 893
Totals 78,961 $101,862 1,173 $112,466 $2�4,462 $269,293
FUND 3ALANCE
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N Fund balance (Exhibit 9) 78, 961 $101, 862 1, 173 $112, 466 $294, 462 $269, 293
Totals 78, 961 $101, 862 1, 173 $112, 466 $294, 462 $269, 293
(E xhibit 1)
(See notes to t�e financial statements)
This statement is an integral part of report dated April 22, 1977.
City of Brooklyn Center Exhibi.t 9
Debt Service Funds
COMBINED STATEMENT OF REVENUES, EXPENDITURES,
AND FUND BALANCES
St�ate Aid Improvement
Park Library Street Building Combined Statement
Bonds Bonds Bonds Bonds 1976 1975
Revenues and Transfers-in
Real estate taxes 25, 266 $274, 670 $299, 936 $296, 111
Interest earnings 3, 041 7, 350 1, 172 3, 995 15, 558 7, 393
State aid allotment 26, 850 26, 850 25, 830
Transfer from municipal State Aid for
construction (Exhibit 11) 86, 087 86, 087 168, 328
Sale of City property 9, 277 9, 277
Total Revenues and Transfers-
In 28, 307 7, 350 $114, 109 $287, 942 $437, 708 $497, 662
Expenditures and Transfers-Out
w Principal payments 20, 000 10, 000 55, 000 $140, 000 $225, 000 $185, 000
Interest payments 3, 945 3, 420 57, 815 121, 550 186, ?30 198, 708
Fiscal agent fees 95 22 214 478 809 768
Transfers-out 11, 839
Total Expenditures and Trans-
fers-Out 24, 040 13, 442 $113, 029 $262, 028 $412, 539 $396, 315
Excess (Deficiency) of Revenues Over
Expenditures 4, 267 6, 092) 1, 080 25, 914 25, 169 $101, 34?
Fund Balance, January 1 74, 694 107, 954 93 86, 552 269, 293 167, 946
Fund Balance, December 31 (Exhibits 8 78, 961 $101, 862 1, 173 $112, 466 $294, 462 $269, 293
and 31)
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(See notes to financial statements)
I
This statement is an integral part of report dated April 22, 1977.
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CAPITAL PROJECTS FUNDS
CAPITAL PROJECTS FUNDS
Captial Projects Funds are created to account for all resources used for the
4
acquisition of capital facilities by a governmental unit except those finan-
ced by special assessment and enterprise funds.
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City of Brooklyn Center Exhibit 10 I I,
Capital Projects Funds
COMBINED BALANCE SHEET
I
Open-Space Capital Municipal Combined Statement
Acquisition Projects State Aid for December 31,
Fund Fund Construction 19?6 1975
ASSETS
Temporary investments (Exhibit 26) 2, 766 $319, 242 $1, 661, $42 $1, 983, 850 $2, 119, 944
Due from other governmental agencies 32, 755 17, 000 68, 780 118, 535 114, 747
Taxes receivable (Schedule 1) 53 53 68
Due from other funds 619
Totals 35, 521 $336, 2�5 �1, 730, 622 $2, 102, 438 $2, 235, 3�78
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LIABILITIES .aND FUND BALANCE
Liabilities
Vouchers payable 1, 266 1, 266
Contracts payable 2, 339 2, 339 25, 213
Due to other funds 12, 147 12, 147 455, 116
Total Liabilities 12, 147 1, 266 2, 339 15, 752 480, 329
Fund Balance (Exhibit 11) 23, 374 335, 029 1, 728, 283 2, 086, 686 1, 755, 049
I Totals 35, 521 $336, 295 $1, 730, 622 $2, 102, 438 $2, 235, 378
(Exhibit 1)
(See notes to financial statements)
This statement is an inte ral art of re ort dated A ril 22 1977.
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City of Brooklyn Center Exhibit 11
Capital Projects Funds
COMBINED STATEMENT OF APPROPRIATIONS, EXPENDITURES
AND FUND BALANCES
Open Space Capital Municipal
Acquisition Projects State Aid for Combined Statement
Fund Fund Construction 1976 1975
Amounts Appropriated or Available for Appropriation
General Debt:
General obligation bonds $2, 250, 000 $1, 030, 000 $3, 280, 000 $3, 530, 000
Certificates of indebtedness 53, 500
Ad valorem taxes 263, 362 263, 362 263, 362
Sale of property 37, 543 37, 543 37, 543
Grants from other governmental units:
Hennepin County 22, 850 22, g50 22, 850
U. S. Government 146, 271 4, 000 150, 271 146, 271
State of Minnesota 74, 643 2, 209, 849 2, 284, 492 2, 010, 914
Local units 17, 000 17, 000
Transfers-In from other funds:
General Fund 92, 997 3, 000 95, 997 95, 997
Special Assessment Funds 87, 000 87, 000 87, 000
Federal Revenue Sharing Fund 29, 747 29, 747 12, 747
Library Sales Fund 44, 042 44, 042 44, 042
Capital Indebtedness 11, 839 11, 839 11, 839
Bond Fund #1 4, 129 4, 129 4, 129
Dedicated funds appropriated 279, 000 279, 000 279, 000
Interest earned on investments 11, 151 288, 496 688, 768 988, 415 841, 154
Total Amounts Appropriated or Availabie for Appropriation $347, 912 $3, 319, 158 $3, 928, 617 $7, 595, 687 $7, 440, 348
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Less: Expenditures for authorized purposes:
Total expenditures ttrcough December 31, prior year $321, 839 $2, 975, 810 $2, 081, 717 $5, 379, 366 $5, 599, 157
Current year expenditures:
Debt Service (Exhibit 9) 86, 087 86, 087 58, 668
Street Construction 32, 530 32, 530 12, 929
Parks and Playgrounds 2,699 2,699 10,416
Building Improvements 8, 319 8, 319
Transferred to Capital Project Fund 4, 129
Tota1 Authorized Expenditures Throu�h December $324, 538 $2, 984, 129 $2, 200, 334 $5, 509, 001 $5, 685, 299
Fund Balance
Uneacpended and (overexpended) appropriations 12, 223 122, 483 4, 002) 130, 704 102, 732
Balance restricted to state approved projects 1, 270, 659 1, 270, 659 1, 114, 438
Unappropriated Balance 11, 151 212, 546 461, 626 685, 323 537, 879
Fund Balance December (Exhibit 10) 23, 374 335, 029 $1, 728, 283 $2, 086, 686 $1, 755, 049
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(See notes to financial statements)
This statement is an integral part of report dated April 22, 1977.
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ENTERPRISE FUNDS
Enterprise funds are established to accaunt 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 Exhibit 12 I
Municipal Liquor Fund
STATEMENT OF FINANCIAL POSITION
December 31, December 31,
ASSETS 1976 1975 LIABILITIES AND RETAINED EARNINGS 1976 1975
Current Assets Current Liabilities
Cash on hand and in depositories 3, 700 3, 700 Accounts payable 59, 078 62, 799
Accounts receivable 1, 947 1, 361 Accrued sales tax payable 8, 000 7, 837
Temporary investments (Exhibit 26) 56, 756 45, 300 Accrued salaries and wages payable 6, 583 4, 957
Due from other funds 12 406 Due to other funds 1, 740 36, 895 i
Merchandise inventory (Note 3) 132, 530 163, 712
Prepaid expenses 1, 307 60 Total Current Liabilities 75, 401 $112, 488
Total Current Assets $196, 252 $214, 539 Reserve for Restricted Assets
Deferred gain arising from favorable settlement
of lawsuit against liquor wholesalers (Note 3) 8, 314 11, 086
Other Accounts Receivable
Account receivable arising from favorable settlement Retained Earnings
of lawsuit against liquor wholesalers (Note 3) 8, 314 11, 086
Retainedearnin�s (E}chibit 12) $164,528 $157,385
Property, Plant and Equipment
Fixtures and equipment 79, 019 78, 827
Land and leasehold improvements 33, 183 33, 183
Less: Accumulated altowance for amortization and
depreciation 68, 525) 56, 676)
Net Book Value of Properties 43, 677 55, 334
Total $248,243 $280,959 Total $248,243 $280,959
(See notes to financial statement5)
This statement is an integral part of report dated April 22, 1977.
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City of Brooklyn Center Exhibit 13
Municipal Liquor Fund
STATEMENT OF OPERATIONS AND RETAINED EARNINGS
Humboldt Square Brooklyn Boulevard Northbrook Combined Statement
Store Store Store 1976 1975
Sales $473, 362 $648, 781 $806, 574 $1, 928, 717 $1, 954, 223
Cost of Sales 384, 689 520, 723 651, 800 1, 557, 212 1, 578, 193
Gross Mar�in on Sales 88, 673 $128, 058 $154, 774
371, 505 376, 030
Operating Expenses
Salaries and wages 37, 649 46, 111
52, 982 136, 742 133, 188
Rent 16, 464 13, 661 30, 125 29, 991
Payroll taxes 3, 328 4, 667 4, 559 12, 554 13, 253
Utilities 5, 105 2, 563 4, 284 11, 952 11, 707
Depreciation and amortization 6, 738 807 4, 305 11, S50 12, 463
Insurance 1, 873 2, 227 2, 581 6, 681 7, 341
Supplies 1, 469 1, 723 2, 341 5, 533 5, 7a7
Repairs and maintenance 396 873 1, 181 2, 450 5, 399
Audit 779 778 778 2, 335 1, 961
Heating 404 964 664 2, 032 1, 826
Provision for uncollectible checks and cash short 670 559 678 1, 907 1, 227
Laundry 459 554 562 1, 575 2, 559
Protection services 439 437 534 1, 410 1, 631
Inventory variance and breakage 265 182 745 1, 192 1, 690
Telephone 302 301 303 906 927
Advertising 194 193 193 560 646
Taxes and licenses 20 20 20
Miscellaneous 4 12 20 36 165
Total Operating Expenses 76, 558 62, 971 90, 391
229, 920 231, 741
Net Operating Income 12, 115 65, 087 64, 383
141, 585 144, 289
Interest and other income 1, 161 1, 995 2, 402 5, 558 6, 613
Net Income 13, 276 67, 082
66, 785 147, 143 150, 902
Transfers to the General Fund (Schedule 5A) 140, 000) 125, 000) I
Retained Earnings, January 1, 157, 385 131, 483
Retained Earnings, December 31, (Exhibit 12) 164, 528 157, 385
(See notes to financial statements) j
This statement is an integral part of report dated April 22, 1977.
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t Cit of Brooklyn Ceni.er Exhibit 14
y
Municipal Liquor Fund
STATEMLNT OF CHANGES IN FINANCIAL POSITION
1976 1975
Sources of Funds
Operati�ns:
Net income for year (Exhibit 13 $147, 143 $150, 902
Add: Non working capital charges against net
income:
Depreciation and amortization (Exhibit 13) 11, 850 12, 463
Working capital provided by operations $158, 993 $163, 365
Increase in reserve for restricted assets 11, 086
Collection of other accounts receivable 2, 772
Total Source of Funds $161, 765 $174, 451
1
Application of Funds
Purchase of properties 193 1, 786
Decrease in reserve for restricted assets 2, 772
Increase in other accounts receivable 11, 086
Increase in working capital 18, 800 36, 579
Transfers to General Fund (Exhibit 13) 140, 000 125, 000
Total Applications of Funds $161, 765 $174, 451
Anal sis of Chan es in Workin Ca ital
Y g g p
Working
Capital
Beginning End Increase
of Year of Year (Decrease)
1976
Current Assets $214, 539 $196, 252 18, 287)
Current Liabilities 112, 488 75, 401 37, 087
Working Capital $102, 051 $120, 851 18, 800
1975
Current Assets $236, 520 $214, 539 21,981)
Current Liabilities 171, 048 112, 488 58, 560
Working Capital 65, 472 $102, 051 36, 579
(See notes to financial statements)
This statement is an integral part of report dated April 22, 1977.
38
City of Brookl,yn Center Exhibit 15
Public Utilities Fund
STATEMENT OF FINANCLAL POSITION
December 31, LIABILITIES, RESERVES AND December 31,
ASSETS 1976 1975 RETAINED EARNINGS 1976 1975
Current Assets Current Liabilities
Temporary investments 227, 058 50, 058 Current portion of long term debt 35, 000 35, 000
Due from other funds 76, 672 32, 213 Vouchers and accounts payable S, 992 26, 150
Accounts receivable 95, 920 78, 456 Notes and contracts payable 30, 356 2, 914
Accrued water and sewer revenues 90, 7S6 82, 176 Accrued salaries and expenses 39, 252 3, 553
Assessments receivable 3, 980 11, 891 Accrued sales taxes payable 1, 748 1, 355
Due from other governmental units 8, 410 22, 428 Due to other Funds 9, 321 117, 331
Prepaid expenses and supplies 9, 145 35, 929 Hydrant meter deposits 675 675
Total Current Assets 511, 971 313, 151
Total Current Liabilities 125, 344 186, 978
Restricted and Other Assets Long Term Liabilities
Temporary investments 3, 143, 599 2, 989, 412 Revenue bonds (Schedule 2)(Note 4) 660, 000 695, 000
Metro Control Commission Receivable (Note 5) 260, 067 273, 555 Lesa; Current portion of bonds payable 35, 000) 35, 000)
Debt Retirement Accounts (Schedule 3)(Note 4) 137, 154 138, 519
Assessments receivable 147, 463 151, 359 Total Long Term Liabilities 625, 000 660, 000
Construction Fund invested (Eachibit 26) (Note 4) 60, 930 61, 893
Total Restricted and Other Assets 3, 749, 213 3, 614, 738 Other Credits
Deferred gain on sale of assets (Note 5) 78, 836 82, 121
Utility Plant in Service (Exhibit 20) Reserves
Mains and lines $10, 224, 550 $10, 224, 550
Restricted for plant expansion 1, 690, 408 1, 690, 408
Structures 1, 620, 674 1, 613, 745 Metro Waste Control Commission (Note 5) 260, 067 273, 555
Equipment 250, 879 286, 209 Debt Retirement (Note 4) 137, 154 �138, 519
Land 23, 621 23, 621 Construction Funds (Note 4) 60, 930 61, 893
Working Capital 20, 000 20, 000
Total Utility Plant $12, 119, 724 $12, 148, 125
Less; Accumulated depreciation 2, 099, 663) 1, 957, 985) Total Reserves 2, 168, 559 2, 184, 375
Net Book Value of Utility Plant $10, 020, O61 $10, 190, 140 Contributions in aid of Construction
Contributions from special assessments and
developers 9, 803, 872 9, 841, 744
Construction in Progress 72, 146 16, 380
Retained earnings (Eachibit 16 1, 551, 780 1, 179, 191
Total $14, 353, 391 $14, 134, 409 Total E
$14, 353, 391 $14, 134, 409
(See notes to financial statements)
This statement is an integral part of report dated April 22, 1977.
City of Rrooklyn Center �;xhibit 16
Public Utilities Fund
STATEMENT OF OPERATIONS AND RETAINED EARNINGS
i 1976 Combined Operations
Water Sewer Statement
Department Department 1976 1975
Operating Revenues
Service to consumers $514, 140 $428, 155 $942, 295 $813, 385
Service hookup charges 19, 734 4, 407 24, 141 34, 661
Sale of water meters 7, 304 7, 304 13, 062
Penalties 1, 838 5, 106 6, 944 6, 180
Other 4, 386 2, 086 6, 472 21, 655
Operating Revenues $547, 402 $439, 754 $987, 156 $888, 943
Operating Expenses (Exhibits 18 19)
Treatment and disposal $396, 396 $396, 396 $314, 109
Source of supply 84, 972 84, 972 61, 681
II Transmission and distribution 37, 123 37, 123 19, 051
Collection 12, 692 12, 692 15, 177
I� Administration 59, 124 47, 306 106, 430 96, 738
Customer accounting 58, 151 14, 898 73, 049 42, 929
Depreciation (Exhibit 16) 102, 348 70, 298 172, 646 169, 895
Operating Expenses $341, 718 $541, 590 $883, 308 $?19, 580
Operating Income (Loss) $205, 684 $(101, 836) $103, 848 $169, 363
Other Income and Expenses
Interest income $248, 118 $212, 095
Other income 3, 243 27, 230
Gain on disposition of equipment 28, 782
Interest and fiscal agent fees 27, 218) 28, 383)
Extraordinary depreciation related to
change in depreciable life (204, 573)
Net Income Transferred to Retained Earnings $356, 773 $175, 732
1 Retained Earnings, January 1 $1, 179, 191 986, 243
Transferred from the Reserves for;
Metro Waste Control Commission 13, 488 12, 337
Debt Retirement 1, 365 10, 638
Construction Fund 5, 211 478
Transferred to the Reserves for
Construction Fund 4, 248) 6, 237)
Retained Earnings, December 31 (Exhibit 15) $1, 551, 780 $1, 179, 191
(See notes to fina.ncial statements)
This statement is an integral part of report dated April 22, 1977.
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City of Brooklyn Center Exhibit 17
Public Utilities Fund
STATEMENT OF CHANGES IN FINANCIAL POSITION
Sources 1976 1975
Operations: i
Net income to retained earnings $356, 773 $175, 732
Add: Non working capital charges made to income
Depr�ciation (Exhibit 20) 172, 646 374, 468
Metro Waste Control Commission receivable
collected 13, 488 12, 337
Deduct: Non worki_ng capital credit made to income
Amortization of deferred gain on sale of assets 3, 285) 3, 285)
Gain on equipment retired 12, 403
527 219 9 252
Working Capital Provided by Operations $55
Contributions by developers and special assessments 15, 269
Debt reitrement account investment� sold 1, 365 10, 638
Collection of assessments receivable 3, 896
Construction fund investments sold 963
Working capital decrease 146, 931
Total $533, 443 $732, 090
Applications
Investment in utility plant in service R3, 802 41, 469
Payments to retire bonds 35, ��0 35, 000
Increased investinents 154, 1L'? 641, 032
Increase in working capital 260, 45�
Invested in construction funds 5, 759
Increase in assessments receivable 8, 830
Total $533, 443 $732, 090
Anal sis of Chan es in Workin Ca ital
Y g g P
Increase
End of Beginr�ing (Decrease)
Year of Year Working Capital
1976
Current Assets $511, 971 $313, 151 $198, &�J
Current Liabilities 125, 344 186, 978 61, 63�
Working Capital $386, 627 �126, 173 $260, 454
1975
Current Assets $313, 151 $570, 243 ${257, 092)
Current Liabilities 186, 978 297, 139 10, 161)
Working Capital $126, 173 $2 r;3, 104 $(146, 93
(See notes to financial statemeni:s)
This statement is an integral part of report dated April 22, 1977.
41
City of Brooklyn Center Exhibit 18
Public Utilities Fund
WATER DEPARTMENT OPERATING EXPENSES
Classification by Function CombinedStatement
Source Customer
of Supply Transmission Administration Accounting 1976 1975
Labor 12, 400 14, 646 25, 493 22, 359 74, 898 68, 212
Electricity 49, 282 49, 282 33, 712
Repairs and maintenance 8, 254 20, 779 627 723 30, 383 7, 883
Meters for replacement 23, 189 23, 189 10, 297
Materials and supplies 13, 137 1, 306 2, 130 834 17, 407 15, 142
Rent and administration 13, 143 13, 143 10, 036
Equipment rental 154 392 3, 852 4, 774 9, 172 4, 615
Payroll taxes 8, 211 8, 211 4, 891
Postage 6, 106 6, 106 3, 739
Professional fees 430 1, 827 2, 257 870
A
N
Insurance 2, 024 2, 024 408
Employee benefits 1, 454 1, 454 i, 062
Fuel heating 1, 315 1, 315 i, 573
Printing 1 166 167 218
Schools and conferences 108 108 214
Uncollectible accounts 325) 325)
Small tools and equipment 329 329 232
Dues and subscriptions 250 250 240
Totals (E�ibit 16) 84, 972 37, 123 59, 124 58, 151 $239, 370 ;1e3, 344
(See notes to financial statements)
This statement is an integral part of report dated April 22, 1977.
Exhibit 19
City of Brooklyn Center
Public Utilities Fund
SEWER DEPARTMENT OPERATIIVG EXPENSES
Classification by Function CombinedStatement
Disposal Customer
Pumpin� Collection Administration Accountin� 1976 1975
Metro Waste Control Commission charge (Note 5) $379, 030 $379, 030 $296, 877
Labor 8, 414 11, 654 17, 943
8, 220 46, 231 46, 207
Rent and administration 13, 143 13, 143 9, 639
Equipment rental 11 3, 855 4, 773 S, 639 4. 330
Electricity 8, 118 8, 118 8, O11
Payroll taxes 5, 120 5, 120 4, 891
Repairs and maintenance 671 1, 472 611 2, 754 6, 479
Professional fees 1, 828 1, 828 4, 876
Posta e
g 1, 814 1, 814 1, 237
Materials and supplies 445) 2, 086 91 1, 732 1, 662
Insurance 1,499 1,499 387
Employee benefits 944 944 1, 063
A
Small tools and equipment 266 266 161
Printing 11 11 121
Fuel heating 163 163 191
Schools and conferences 150
Water used
59
Totals (Exhibit 16) $396, 396 12, 692 47, 306 14, 898 $471, 292
$388
(See notes to financial statements)
This statement is an integral part of report dated April 22, 1977.
City of Brooklyn Center Exhibit 20
Public Utilities Fund
STATEMENT OF UTILITY PLANT IN SERVICE AND ALLOWANCE
FOR DEPRECIATION
Utility Plant in Service Allowance for Depreciation
1/1/76 12/31/76 1/1/76 12/31/76 Depreciable
Balance Additions Retirements Balance Balance Additions Retirements Balance Life (Years)
Water Departxnent
Mains and lines 5, 459, 715 5, 459, 715 526, 900 54, 597
581,497 100 I
Structures I, 047, 485 1, 047, 485 221, 459 34, 916 256, 375 30
Equipment 276, 180 4, 727 40, 057 240, 850 156, 210 12, 835 30, 968 138, 077 5, 10, 20, 25
Land 23, 071 23, 071
Total Water Department 6, 806, 451 4, 727 40, 057 6, 771, 121 904, 569 $102, 348 30, 968 975, 949
Sewer Department
Mains and lines 4, 764, 834 4, 764, 834 747, 972 47, 648 795, 620 100
Structures 566,260 6,929 573,189 295,414 22,650 318,064 23
Equipment 10, 030 10, 030 10, 030 10, 030 5, 10, 20, 25
Land 550 550
Total Sewer Department 5, 341, 674 6, 929 5, 348, 603 $1, 053, 416 70, 298 $1, 123 714
Totals $12, 148, 125 11, 656 40, 057 $12, 119, 724 $1, 95 7, 985 $172, 646 30, 968 $2, 099, 663
(Exhibit 15) (Exhibits 16 (Exhibit 15)
and 17)
I
(See notes to financial etatements)
I This statement is an integral part of report dated April 22, 1977.
I
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 TRUST 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.
i
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Cit,y of Brooklyn Center Exhibit 21
Trust and Agency Funds
COMBINED BALANCE SHEET
A� e n c y Truat
Fire Public
Housing and Department Employees Police Combined Statement
Redevelopment Relief Retirement Pension December 31
Authority Association Association Fund 1976 1975
ASSETS
Investments net of unamortized premiums and
discounts (Schedule 3) $885, 712 885, 712 $785, 869
Temporary investments (Exhibit 26) 12, 858 1, 500 22, 525 79, 489 116, 372 95, 993
Accrued revenue 926 14,071 14,997 14,569
Due from other funds 1, 038 1, 038 3, 813
Due from other governmental units 1, 102 788 1, 890 150
Taxes receivable (Schedule 1) 2, 339 19, 519 6, 849 28, 707 18, 800
Total 13, 960 3, 839 43, 758 $987, 359 $1, 048, 716 $919, 194
A
LIABILITIES AND FUND BALANCE
Liabilities
Accounts payable 13, 849 1, 420 11, 633 399 27, 301 42, 108
Due to other funds 6,483
Due to other governmental units 1, 102
Principals balances (Exhibit 22) 111 111
Accrued pension liabilities (Note 7) 746, 233 746, 233 675, 983
I Total Liabilities 13, 960 1, 420 11, 633 $746, 632 773, 645 $725, 676
Fund Balance (Exhibit 23) 2, 419 32, 125 240, 527 275, 071 193, 518
Total 13, 960 3, 839 43, 758 $987, 159 $1, 048, 716 $919, 194
(See notes to financial statements)
I This statement is an integral part of report dated April 22, 1977.
City of Brooklyn Center Exhibit 22
Trust and Agency Funds
COMBINED STATEMENT OF PRINCIPAL'S BALANCES
Agency
Housing and Redevelopment
Authority
1976 1975
Principals Balance, January 1 -0- -0-
Receipts for authorized purposes 35, 340 30, 536
Interest earnings 110
Disbursements to authorized principal 35, 339) 30, 536)
Principals Balance, December 31 (Exhibit 21) 111 -0-
(See notes to financial statements)
This statement is an integral part of report dated April 22, 1977.
46
City of BrookTyn Center Exhibit 23
Trust and Agency Funds
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND FUND BALANCES
Public
Fir� Depart- Employees Police
ment tZ-,elief Retirement Pension Combined Statement
Revenues Association Association Fund 1976 1975
Ad valorem levies 3, 593 $123, 074 24, 929 $151, 596 $199, 252
Insurance premium rebate 32, 127 21, 521 53, 648 51, 215
Employee contribution 29, O10 29, O10 26, 044
Enterprise fund contributions 23, 353 23, 353 22, 394
Interest earnings 69 67, 130 67, 199 53, 958
Total Revenues 35, 789 $146, 427 $142, 590 $324, 806 $352, 863
Expenditures
City's contribution to:
Brooklyn Center Fire Relief Association 36, 614 36, 614 63, 540
Public Employees' Retirement Association $134, 857 134, 857 126, 301
Policemen's Pension 70, 250 70, 250 63, 067
Interest expense 1, 133 1, 133
Professional fees 399 399 1, 200
Total Expenditures 36, 614 $135, 990 70, 649 $243, 253 $254, 108
Excess (Deficiency of Revenues over
Expenditures 825) 10, 437 71, 941 81, 553 98, 755
Fund Balance, January 1 3, 244 21, 688 168, 586 193, 518 94, 763
Fund Balance, December 31, (Exhibit 21) 2, 419 32, 125 $240, 527 $275, 071 $193, 518
(See notes to financial statements)
This statement is an i.ntegral part of report dated April 22, 1977.
City of Brooklyn Center Exhibit 2�4 t
Investment Trust Fund
BALANCE SHEET
December 31,
ASSETS 1976 1975
Cash on hand and in depositories 81, 598 92, 044
Accrued interest receivable 140, 470 314, 410
Investments (Schedule 3) 8, 777, 562 8, 218, 215
Total Assets $8, 999, 630 $8, 624, 669
LIABILITIE S
Due contractors (performance deposits) 25, 461 22, 527
Unclaimed cash (law enforcement activities) 18 18
Due to other governmental units 34 34
Due participating funds (Exhibit 26) 8, 974, 117 8, 602, 090
Total Liabilities $8, 999, 630 $8, 624, 669
(Exhibit 1)
(See notes to financial statements)
This statement is an integral part of report dated April 22, 1977.
48
City of Brooklyn Center Exhibit 25
Investment Trust Fund
STATEMENT OF EARNINGS
1976 1975
Interest Income
United States Government securities $462, 386 $418, 687
Construction loans 74, 313 80, 505
Bank savings certificates 56, 588 56, 501
Total Interest Income $593, 287 $555, 693
Expenses
Audit 924 997
Total Expenses 924 99?
Net Income Distributed to Participating Funds $592, 363 $554, 696
(E xhibit 2 6
Explanation
The Investment Trust Fund was established in 1956 by Council action
to prov9.de a uniform and consistent method of investing texnporary surpluses
of cash. Net income of the Fund is distributed annually to each of the parti-
cipating 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
1976 6. 86°�0 592, 363
1975 7. 15 554, 696
1974 7. 66 503, 710
1973 6. 63 391, 221
1972 6.30 318, 828
1971 6. 66 322, 365
1956 1970 2. 77 6. 30 1, 087, 186
Total Distributed Earnings for Years 1956-1976 $3, 770, 369
(See notes to financial statements)
This statement is an integral part of report dated April 22, 19??.
49
City of Brooklyn Center Exhibit 26
Investment Trust Fund
CHANGES IN PARTICIPATING FUNDS' BALANCES
January 1, Net Fund 1976 December 31,
1976 Additions Income 1976
Participating Fund Balance (Withdrawals) Distribution Balance
General Fund 387, 666 294, 334 14, 356 696, 356
Park Concessions Fund 3, 309 3, 309) 209 209
Federal Revenue Sharing Fund 447, 178 14, 654) 36, 466 468, 990
Park Bond Debt Service 42, 913 28, 579 3, 041 74, 533
Library Bond Debt Service 107, 954 13, 442) 7, 350 101, 862
State Aid Street Bond Debt Service 93 93 1, 172 1, 172
Improvement and Building Bond 62, 916 9, 414) 3, 995 57, 497
Open Space Acquisition Fund 41, 541 41, 541) 2, 766 2, 766
Capital Projects Fund 317, 598 20, 169) 21, 813 319, 242
State Aid Construction Fund 1, 760, 805 (224, 078) 125, 115 1, 661, 842
Municipal Liquor Fund 45, 300 10, 498 958 56, 756
Public Utilities Fund 3, 039, 470 116, 607 214, 580 3, 370, 657
Public Utilities Revenue Bond Account 62, 105 7, 927) 6, 562 60, 740
Public Utilities Construction Fund 61, 893 5, 211) 4, 248 60, 930
Fire Department Relief Association 13, 529 12, 099) 70 1, 500
Public Employees' Retirement
Association 33, 092 9, 434) 1, 133) 22, 525
Police Pension Fund 36, 673 39, 256 3, 560 79, 489
Housing and Redevelopment Agency 12, 699 48 111 12, 858
Special Assessment Funds
Bond Fund 1, 1955A, 1956B and
1957AB 86, 990 7, 867 6, 015 100, 872
1956 AC 117, 706 8, 319) 8, 157 117, 544
1958 A 120, 938 13, 656) 8, 370 115, 652
1958 B 107, 034 16, 624) 7, 367 97, 777
1959 AB 94, 281 20, 714) 6, 503 80, 070
1960 AB 330, 930 42, 9�2) 22, 988 310, 976
1961 AB 404, 013 9, 738) 28, 019 422, 294
1963 A 252, 882 2, 689) 17, 517 267, 710
1965 A 62, 848 6, 941 4, 517 74, 306
1966 A 136, 753 1, 608 9, 629 147, 990
1969 A 68, 337 1, 153 5, 018 74, 508
1970 16, 734 11, 420) 1, 352 6, 666
1973 274, 053 (246, 939) 16, 970 44, 084
1976 51, 857 8, 047) 4, 533 48, 343
197? -0- 15, 232 169 15, 401
Total $8, 602, 090 $(220, 336) $592, 363 $8, 974, 117
(Exhibit 25)(Exhibit 24)
See notes to financial statements)
This statement is an integral part of report dated April 22, 1977.
50
I
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 improvements
which benefit the entire community and which are paid for out of general
revenues or through the issuance of general obligation bonds.
I
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City of Brooklyn Center E�ibit 27
Special Assessment Funds
COMBINED BALANCE SHEET
Debt Service Current
Activity (only) Construction Combined Statement
ASSETS Funds Fund 1976 1975
Temporary investments (Exhibit 26) $1, 908, 792 15, 401 $1, 924, 193 $2, 125, 355
Accounts receivable and accrued interest 1, 434 1, 434 18, 255
Due from other funds 34, 876 34, 876 678, 837
Assessments receivable:
Future installments (principal) 3, 302, 390 104 3, 302, 494 3, 835, 338
Current and delinquent assessments 606, 439 606, 439 314, 700
City General Fund (Note 6) 224, 325 8, 8�7 233, 152 254, 223
Tax forfeit land 11, 106 11, 106 11, 008
Authorization to assess for construction in progress 17, 000 17, 000 116, 790
Deferred interest charges 26, 406 26, 406 24, 630
Due from other governmental units 4, 872 4, 872 8, 245
Totals $6, 120, 640 41, 332 $6, 161, 972
$7, 387, 381
LIABILITIES
Accounts payable 1, 742 154 1, 896
Contracts payable 17, 665
Accrued expenses and costs 13, 686 13, 686 178, 825
Due to other funds 80, 468 29, 999 110, 467 301, 977
Construction loan payable 126, 000 126, 000 l, 550, 600
Bonds payable (Schedule 2) 4, 350, 000 4, 350, 000 3, 925, 000
Total Liabilities $4, 571, 896 30, 153 $4, 602, 049 $5, 974, 067
Fund Balance debt service (Exhibit 28) 1, 548, 744 -0- 1, 548, 744 1, 384, 527
Unexpended appropriations for construction (Exhibit 29) 11, 179 11, 179 28, 787
Totals $6, 120, 640 41, 332 $6, 161, 972
7, 3 87, 3 81
(See notes to financial statements)
This statement is an integral part of report dated April 22, 1977.
City of Brooklyn Center E�ibit 28
Special Assessment Funds
COMBINED STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE
Debt Service Current
Activitiy (only) Construction Combined Statement
Funds Fund 1976 1975
Revenue
Interest assessments 281, 983 281, 983 285, ?98
Interest investment 147, 124 147, 124 169, 583
Other revenue 5, 253 5, 253
Revenue 434, 360 434, 360 455, 381
Expenditures
Interest 267, 348 267, 348 318, 327
Agent charges 1, 054 1, 054 1, 347
Other expenditures 1, 741 1, 741 9, 092
Expenditures 270, 143 270, 143 328, 766
Excess of Revenues over Expenditures 164, 217 164, 217 126, 615
Fund Balance, January 1 1, 384, 527 1, 384, 527 1, 257, 912
Fund Balance Debt Service December 31 (Exhibit 27) $1, 548, 744 $1, 548, 744 $1, 384, 527
(See notes to financial statements)
This statement is an integral part of report dated April 22, 1977.
r
City of Brooklyn Center Exhibit 29
Special Assessment Funds
STATEMENT OF CONSTRUCTION APPROPRIATIONS AND EXPENDITURES
1976 1975
Appropriations balance, January 1 120, 90 $1, 118, 150
Appropriations during year 41, 100 43, 790
Appropriations closed during the year (Exhibit 30) 144, 890) 1, 041, 150)
A ro riations Balance, December 31 17 000 120 790
PP P
Construction expenditures, January 1 92, 003 893, 740
Expended during year 44, 863 133, 589
Expenditures closed during year (Exhibit 30) 131, 045) 935, 326)
Construction Expenditures, December 31 5, 821 92, 003
Unexpended Appropriations for Construction 11, 179 28, 787
(Exhibit 27)
(See notes to financial statements)
This statement is an integral part of report dated April 22, 1977.
53
Cit� of Brooklyn Center Exhibit 30
Special Assessment Funds
STATEMENT OF CONSTRUCTION EXPENDITURES COMPARED�TO APPROPRIATIONS
AND ASSESSMENTS OF BENEFITS
Project Expenditures Assessed to
(Under Expended) Benefited Properties and Funds
Over Expended Project Property Municipal
Project Number Description Appropriation Appropriation Expenditures Share Properties Share
1976 �'und
74-16 Street 25, 000 171 25, 171 25, 171
74-20 Alley 9, 000 251 9, 251 9, 251
?4-35 Street 22, 400 2, 174 24, 574 24, 574
75-01 �lley 9, 320 540) 8, 780 8, 780
75-02 Alley 8, 470 40) 8, 430 8, 430
?5-03 Alley 12, 800 897) 11, 903 11, 903
75-04 Alley 8, 800 973) 7, 827 7, 827
95, 790 146 95, 936 95, 936
1977 Fund
?5-06 Storm Sewer 8, 000 3, 594) 4, 406 4, 406
76-01 Street 18, 300 921) 17, 379 17, 379
76-02 Street 18, 500 7, 119) 11, 381 3, 131 8, 250
76-03 Street 4, 300 2, 357) 1, 943 1, 366 577
49, 100 13, 991) 35, 109 26, 282 8, 82?
Combined Totals $144, 890 13, 845) $131, 045 $122, 218 8, 827
(Exhibit 29) (Exhibit 29)
(See notes to financial statements)
This statement is ani ntegral part of report dated April 22, 1977.
GENERAL FIXED ASSETS GROUP OF ACCOUNTS
General Fixed Assets are those fixed assets of a governmental jurisdiction
which are not aceounted for in an Enterprise, Working Capital, or Trust
Fund. To be classified as a�xed asset in this category, a speci�c 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
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City of Brooklyn Center Exhibit 31
STATEMENT OF GENERAL FIXED ASSETS
Balance Balance
January 1, December 31,
1876 Acquisitions Disposals 1976
investment in Fixed Asaeta
Land and land improvements 364, 749 2, 699 E 367, 448
Buildings and building improvements 2, 765, 554 11, 663 2. 777, 217
Park properties (including buildings) 1, 443, 305 29, 450 1, 472, 755
Furniture and fixtures 156, 950 5, 545 1fi2, 495
Departmental equipment 1, 117. O1B 102, 076 E 57, 850 1, 161, 242
Storm sewers and etreet projects 9, 332, 938 15, BB 1 9, 348, 599
Total Investmenta in Fised Asaete $15, 180, 512 =167, 094 j 57, 850 =15, 289, 756
Sources of Inveatmenta
GeneralIndebtedness 600,491 a 600,491
General Fund revenuea (includes ad valorem levies) 1, 640, 402 a140, 415 57, 850 1, 722, 967
Liquor store revenue certificates 304, 571 304, 571
C�tributione received 320, 698 B, 689 327, 398
Special aesesament projecta;
Ownera, contracts and city ahare 9, 149, 026 15, 661 9, 1B4, 687
Hennepin County 177, 180 177, 180
Capital Projecta Fund:
General obligations bonds 2, 250, 000 2, 250, 000
Ad valorem tax levy 1968 and 1969 2fi5,243 265,243
Sale of land 38, 654 38, B54
Transfer of surplus from special assessmenta debt aervice funds 198, 386 198, 386
Tranafer from Mayor and Council's contingency account 3, 000 3, 000
Interest earnings on investments 207, 815 207, 615
Federal revenue sharing monies 25,245 4,319 29,564
Tot al Sourcea of Inve in Fiz A ase t s E15, I80, 512 $167, 094 a 57, 850 E15.289, 756
(See notes to financial atatements)
This etatement is an integral part of report dated April 22, 1977.
i
1
GENERAL LONG-TERM DEBT GROUP OF ACCOUNTS
J 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 af such debt may
be spent on .fac�lities 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
�J
include, in addition to conventional general obligation bonds, time warrants
h
and notes which have a maturity of more than one year from date of
issuance.
u
C
'1
J
i
Exhibit 32
Citx of Brooklyn Center
STATEMENT OF GENER,AL LONG-TERM DEBT AND INTEREST
December 31,
1976 1975
Amounts Available and to be Provided
Amounts available in debt service fund 294, 462 269, 293
(Exhibit 8)
Amounts to be provided in future periods:
General obligation bond interest 977, 263 1, 189, 162
General obligation bond principal 2, 760, 000 2, 985, 000
Special assessments levied on City
owned properties 233, 152 254, 223
Total Amount Available and to be Provided $4, 264, 8?? $4, 697, 678
General Debt and Intereat to be Paid in Future
Periods
Principal portion of debt (Exhibit 33) $2, 993, 152 $3, 239, 223
Intereat payable future years (Exhibit 33) 1, 271, 725 1, 458, 455
Total General Debt and Interest to be Paid in
Future Periods (Exhibit 33) $4, 264, 8?? $4, 697, 678
(Exhibit 1)
(See notes to financial statements)
This statement is an i ntegral part of report dated April 22, 1977.
S6
City of Brooklyn Center Exhibit 33
SCHEDULE OF GENERAL LONG-TERM DEBT AND
INTEREST BY MATURITIES
December 31, 1976
General Debt Principal Portion Interest Payable Future Years
Total Building State Aid Assessments Total Building State Aid
Due Durin� Principal of Debt Park Bonds Librar,y Bonds Bonds Street Bonds General Fund Interest Park Bonds Library Bonds Bonds Street Bonds
1977 255, 700 20, 000 10, 000 130, 000 55, 000 40, 700 173, 130 3, 125 3, 040 $112, 450 54, 515
1978 260, 700 20, 000 10, 000 135, 000 55, 000 40, 700 160, 180 2, 305 2, 660 104, 000 51, 215
1979 250, 700 20, 000 10, 000 125, 000 55, 000 40, 700 146, 905 1, 485 2. 280 95, 225 47, 915
1980 235, 700 15, 000 10, 000 115, 000 55, 000 40, 700 134, 211 865 1, 900 87, 100 44, 546
1981 225, 700 10, 000 120, 000 55, 000 40, 700 122, 254 1, 520 79, 625 41, 109
1982 224, 652 10, 000 125, 000 60, 000 29, 652 110, 480 1, 140 71, 825 37, 515
1983 200, 000 10, 000 130, 000 60, 000 98, 210 760 63, 700 33, 750
1984 205, 000 10, 000 135, 000 60, 000 85, 570 380 55, 250 29, 940
1985 195, 000 135, 000 60, 000 72, 545 46, 475 26, 070
1986 200,000 140,000 60,000 59,840 37,700 22,140
1987 200, 000 140, 000 60, 000 46, 765 28, 600 18, 165
1988 210, 000 150, 000 60, 000 33, 660 19, 500 14, 160
1989 210, 000 150, 000 60, 000 19, 875 9, 750 10, 125
1990 60, 000 60, 000 6, 075 6, 075
1991 60, 000 60, 000 2, 025 2, 025
Totals $2, 993, 152 75, 000 80, 000 $1, 730, 000 575, 000 $233, 152 $1, 271, 725 7, 580 13, 680 $811, 200 $439. 265
(Exhibit 32) (Note 6) (E�chibit 32)
(See notes to financial statements)
This statement is an integral part of report dated April 22, 1977.
1
Cit of Brookl n Center
y
N OTES TO FINANCIAL STATEMENTS
Year T976
Note 1: Summary of Significant Accounting Policies
A. Funds The basic accounting and reporting entity
of the City is a"fund". A. fund is defined
as an independent fiscal and accounting entity
with a self-balancing set of accounts recording
cash and/or other resources together with all
related liabilities, obligations, reserves and
equities which are segregated for the purpose
of carrying on specific activities or attaining
certain objective in accord with special
regulations, restrictions or limitations.
B. Ba.ses of Accountin�
Both the accrual basis and rnodified accrual
basis of accounting are utilized by the City
when recording the transactions i.n the various
funds. Accrual accounting is defined as
revenues being recorded at the time they are
earned, and expenditures are recorded when
the liability for them is incurred. The modified
accrual basis is defined as that method of
accounting in which expenditures, other than
accrued interest on general long-term debt,
are recorded at the time the liabilities are
incurred, and revenues are received in cash,
except for material or available revenues
which should be accrued to reflect properly
the taxes levied and the revenues earned.
The basis of accounting by fund is:
Fund Basis of Accounting
General Fund Modified Accrual
Special Revenue Funds
Park Concessions Fund Accrual
Federal Revenue Sharing Accrual
S8
Cit,y of Brookl n Center
NOTES TO FINA.NCIA.L STATEMENTS
Year 1976
Note 1:
Continued
Fund Basis of A.ccounting
Capital Projects Funds
Open Space A:cquisition
and Development A.ccrual
Capital Projects A.ccrual
Municipal State A.id Accrual
Debt Service Funds A.ccrual
Municipal Liquor Fund A.ccrual
Public Utilities Fund A.ccrual
Trust and A.gency Funds
Brooklyn Center Fire Relief Accrual
Brooklyn Center Public
Employees' Retirement
A.ssociation Accrual
Brooklyn Center Housing and
Redevelopment A.ccrual
Brooklyn Center Police Pension Accrual
Investrnent Trust Fund A.ccrual
Special A.ssessrnent Funds A.ccrual
General Fixed A.ssets Group A.ccrual
Statement of General Long-Term
Debt and Interest A.ccrual
C. Fixed A.ssets and Depreciation Policies
Enterprise and Public Service Funds: The
fixed assets of the Enterprise and Public
Service Fund are stated at cost. Depreciation
has been provided using the straight line
rnethod over the estimated useful lives of the
assets. Public Utility assets financed by
special assessrnents are recorded as contri-
butions in aid of construction.
59
City of Brookl�n Center
NOTES TO FINA.NCIAL STATEMENTS
Year 1976
Note 1:
Continued
C. Fixed A.ssets and Depreciation Policies
General Fixed A.ssets: The general fixed assets
of the City, those assets not accounted for in
other fund groups, are accounted for in a
separate self-balancing group of accounts
described as the General Fixed A.sset Group
of A.ccounts. General Fixed Asset purchases
are recorded as expenditures in the fund that
finances the purchase. No depreciation is
recorded on the assets included in the General
Fixed A.sset Group of Accounts.
D. General Long-Terrn Debt
The general long-term liabilities, except for
the Special A.ssessment Funds and the Public
Utilities Fund are not carried as a liability
of a particular fund but are set up in a separate
self-balancing group of accounts known as the
General Long-Terrn Debt Group of A.ccounts.
E. Investments
Investments are carried at cost which approx-
imates market. Interest income is recorded
as earned and is allocated annually to the
respective funds on the basis of the participat-
ing funds investment in the Investment Trust
Fund.
F. Budgets
Financial control of spending for various
governrnental activities is exercised through
the use of budgetary procedures. Exclusive
authority over all budget matters remains with
the Council. The Council approves all budgets
and any arnendments to those budgets also
requires specific approval by the Council.
Budgetary reporting is included in this report,
in the following funds: General Fund, Open
Space Acquisition and Developrnent Fund,
Capital Projects Fund, Municipal State A.id for
Construction Fund, and the Special Assessrnent
Funds.
60
City of Brookl�n Center
NOTES TO FINA.NCIA.L STA.TEMENTS
Year 1976
Note 1: t
Conti.nued
G. Severance and Vacation Pay Policies
The City pays employees severance pay upon
termination of ernployment based on accumulated
sick leave and accrued vacation. Severance,
vacation and sick leave pay are recorded as an
expenditure when paid. At Decernber 31, 1976.
the City had a liability of $74, 392 for accrued
vacation �ay and a liability of $86, 954 for
accumulated sick leave.
Note 2: All Funds
The �Combined Balance Sheet A.11 Funds and A.ccount
Groups (Condensed Form)" as shown on Exhibit 1 is presented
as an information statement only. The reader is cautioned that
the figures as shown under the "Combined Total" column are a
combining of unlike purpose groups (funds) and cannot be con-
strued as indicative of the overall financial position of the City.
The fina.ncial position and results of operations of each fund
should be ascerta.ined by ref�rence to individual exhibits as
submitted for that fund within this report.
Note 3: Municipal Liquor Fund
During 1977 the City changed its method of pricing its
merchandise inventories, as the result of a change in the sales
and distribution policies of the liquor sholesalers. In prior
years the City valued its merchandise i.nventories at the current
wholesale prices and cash and promotional discounts received
were credited directly to income. This method of valuation
results in an overstatement of inventory above actual cost.
The December 31, 1975 inventory was overstated by approx-
imately $15, 000.
During 1976 the Ci:ty changed its accounting procedures and
accordingly, December 31, 1976 i�ventories are valued at
cost (invoice price less discount). As a result of this change
in method of valuing inventory, the current year's cost of goods
sold is overstated by approximately $15, 000, which results in a
corresponding understatement of grass profit and net income
for the year 1976.
61
City of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
Year 1976
Note 3:
Continued
The other accounts receivable, in the amount of $8, 314,
represents an amount due from a group of liquor wholesalers.
Pursuant to terms of a court-ordered judgement the receivable
wi11 be collected over a four-year period provided that the City
makes purchases from these wholesalers. At each year end
these wholesalers remit to the City amounts based on purchases
made during the previous year.
Because of the restrictive terms of the judgement, the
gain attributable to this transaction has been credited to
deferred income and is being amortized and recognized into
income over the period of collection of the receivable.
The Huznboldt Square Store occupies space in the Humboldt
Square Shopping Center under terms of a lease which expires
during 1978. The Brooklyn Boulevard Store is located on city-
owned property. The Northbrook Store is located in the North-
brook Shopping Center and is occupied pursuant to terms of a
lease which expires November 30, 1981.
Note 4: Public Utilities Fund
Public Utilities Revenue bonds were issued during 1963 to
finance an addition to the water works system. These bonds,
together with related interest and service charges, are pay-
able solely from the operations of the Public Utilities Fund
and are not a general obligation of the City. The resolution
authorizing and directing the issuance of these bonds contain
covenants and restrictions enacted for the purpose of protect-
ing the bondholders' interest. Paragraph 8 of the resolution
provides for the segregation of assets and the appropriation of
retained earnings for debt retirement purposes and defines the
manner of accounting for the activites of the Public Utilities
Fund.
As required by Paragraph 10e of the issuing resolution,
an analysis af each account balance appears as follows:
1
62
Cit of Brookl Center
Y 3'n
NOTES TO FINANCIAL STATEMENTS
Year 1976
Note 4:
Continued
Construction Account
Proceeds of bond sale $1, 000, 000
Add: Investment earnings thru 1975 331, 618
1976 investment earnings 4, 248
Total Investment Earnings 335, 866
(Exhibit 15)
Deduct: Construction expenditures thru
1975 $1, 269, 725
1976 construction expenditures 5, 211
Total Construction Expenditures $1, 274, 936
Construction Account Balance (Exhibit 1� 60, 930
1
Debt Retirement Account
Accumulated amounts set aside to
meet 1976 requirements for
interest and principal
Investments with accrued
interest 62, 154
Reserve account invest-
ments ?5, 000
Total Debt Retirement Account (Exhibit 15)$ 137, 154
A summary vvhich reconciles restric#ed assets with
earnings and also compares appropriated earnings with
restriction requirements as set forth by the resolution�
authorizing the sale of revenue bonds is presented as
follows:
63
City of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
Year 1976
Note 4;
C ontinue d
Revenue
Construction Bond Reserve
Account Account Account
e e s 12 31 76 60 930 62 154 75, 000
R stricted Ass t
Appropriated Earnings at
12/31/76 60, 930 62, 154 75, 000
All bonds which mature on January 1, 1982 or there-
after are subject to redemption (call) on January 1, 1974,
or any interest payment date thereafter in inverse numerical
order, at par and accrued interest and premium as follows:
1. If rede emed January 1, 1977, or thereafter prior
to Janua.ry 1, 1981, premium of 1 1/ 2%.
2. If redeemed January 1, 1981, or thereafter, no
premium.
Since 1963, the Public Utilities Fund has been accumulat-
ing 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 exapnsion of the facilities has a cost estimate
of $6, 184, 000. The plan includes capital outlays for the con-
struction of water mains, a 1. 5 MG water tower and a 10 MG
water treatment plant with completion estimated during 1978.
To date, $3, 143, 599 has been accumulated and set aside for
the purpose of partically meeting the financing requirements
for the planned expansion.
Note 5: Public Utilities Fund Metro Waste Control Commission
Receivable and Reserves
Pursuant to enacted legislation (Metropolitan Sewer Act
Chapter 449 Session Laws) the Metropolitan Waste Control
Commission, as of January 1, 1971, assumed ownership of
all existing interceptors and treatment works needed to imple-
ment a comprehensive plan for the collection, treatment, and
disposal of sewage i.n the seven county metropolitan area.
64
City of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
Year 197 6
Note 5: Public Utilities Fund Metro Waste Control Commission
Cont'd Receivable and Reserves
Under the terms of the Act, the Commi�sion is obligated
to reimburse each local government for the cost of facilities
acquired. This cost or purchase price of facilities is based
on depreciated replacement cost value as of December 31, 1970
as determined by cost analysis and engineering studies. This
current value receivable is to be paid by the Metropolitan
Waste Control Commission over a period of 30 years and the
amount will earn interest at an annual rate of 4°Jo. 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 1976 consisted of principal and
interest and the amount of credit offset against 1976 sewer
service billings totaled $8, 741, leaving a balance due over the
next 24 years of $203, 940. (Exhibit 15)
Note 6: Summary Statement of General Long-Term Debt and Interest
Special assessments which relate to improvements bene-
fiting City-owned properties total $233, 152 as of December 31,
1976. The payment for these improvements (with no interest
charge) has been scheduled over a period extending through
1982. These assessments are obligations of the general fund
and payment is planned under normal budget procedures,
whereby the needed monies will be appropriated during the years
as each installment becomes due.
The State Aid Street Bonds amounting to 875, 000 at
December 31, 1976 are payable from the Minnesota State Aid
Allotments.
Note 7: Pension Plans and Pension Funds
The City participates in three pension plans and pensian
funds as follows:
1) All City employees with the exception of the sworn police
officers and the volunteer firemen, are covered by the Public
Employees' Retirement Plan. This plan is admizzistered by
65
City of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
Year 1976
Note 7;
Continued
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 10. 5°Jo of its employees' salaries
to this plan. During 1976 this contribution amounted to
$134, 857 (Exhibit 23).
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 Minnesota 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. Act-
uarial studies of retirement needs are made periodically
to determine the contributions to the Association. Accord
ing to a study dated December 31, 1974, the Association had
an actuarial deficit of 83, 486. In order to maintain the
current level of benefits and retire the deficit within 13 years,
annual payments of $28, 180 are required. 19, 716 of the
payment will maintain the current benefit level and 8, 464
of the payment was determined to fund the deficit over a
13 -year period.
Since the actuarial study of 1974, the Brooklyn Center
Fire Relief Association was paid $63, 540 during 1975 and
1 $36, 614 during 1976. The 1976 payment was financed by
the state tax on fire insurance policies and an ad valorem
levy as detailed in Exhibit 23 of the financial statements.
The Police Pension Fund is administered b the City for
Y
the benefit of its sworn police officers. According to an
actuarial study, dated December 31, 1974, the Fund had
an accrued liability of $615, 123 and an actuarial deficit of
$60, 605. Accordingly, annual payments of $66, 270 are
needed to retire the deficit and maintai.n the current benefit
levels.
66
City of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
Year 1976
Note 8: Contingent Liabilities
In addition to the long-term debt included in the
General Long-Term Debt Group of Accounts, the City
has a contingent liability relating to a pledge of full faith
and credit on the special assessment bonds as recorded
in the Special Assessment Funds. The general credit of
the City is obligated only to the extent that liens foreclosed
against properties involved in the special assessment dis-
tricts are insufficient to retire outstanding bonds.
67
City of Brooklyn Center
STATISTICAL INFORMATION SECTION
TABLE OF CONTENTS
1
Schedule Page Number
General Governmental Expenditures by Function I 1
Revenues Other Than Special Assessments II 2
Tax Levies and Tax Collections III 3
Assessed Valu�e and Market Value of All Taxable
Property IV 4
Tax Rates and Tax Levies V 5
Notes to Tax Rates and Tax Levies VI 6
Special Assessment Collections VII 7
Ratio of Net Bonded Debt to Assessed Value and
Net Bonded Debt Per Capita VIII 8
Computation of Direct and Overlapping Debt IX 9
Statement of Legal Debt Margin X 10, 11
Ratio of Annka.l Debt Service Expenditures for
General Bonded Debt to Total General Expenditures XI 12
Schedule of Revenue Bond Coverage XII 13
Summary of Debt Service Requirements to Maturity XIII 14, 15
Schedule of Insurance Coverage XIV 16
Miscellaneous Statistical Facts XV 1? 19
City of Brooklyn Center Schedule I
GENERAL GOVERNMENTAL EXPENDITURES BY FUNCTION
Last Ten Fiscal Years
Public C ommunity
Fiscal General Safety and Public Health Parks and Debt Pension
Year Government Welfare Works Services Recreation Service Expense
1967 $217, 138 $325, 504 $326, 357 12, 683 $235, 834
81, 680 50, 237
1968 244, O10 377, 528 359, 428 13, 866 235, 723 70, 604 151, 656
1969 250, 841 434, 168 484, 154 15, 258 238, O11 88, 608 198, 614
1970 279, 404 495, 132 407, 615 16, 330 337, 106 286, 621 176, 164
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, 927 214, 663
1973 494, 968 587, 443 500, 840 26, 912 466, 642 384, 101 195, 125
1974 546, 649 ?00, 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
r r
i i
Schedule II
City of Brooklyn Center
REVENUES OTHER THAN SPECIAL ASSESSMENTS
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 Taxes Other Revenue Permits Forfeitures Utilities Stores
1967 $812, 089 $226, 868 $129, 548 55, 005 20, 416 $125, 962 $125, 310
1968 876, 271 331, 845 170, 609 82, 098 31, 940 131, 280 146, 551
1969 1, 074, 532 307, 060 642, 245 77, 773 44, 031 161, 925 175, 884
1970 1, 122, 156 436, 030 211, 182 49, 859 57, 970 331, 351 172, 761
1971 1, 256, 531 522, 281 306, 699 67, 837 53, 638 276, 935 168, 406
1972 1, 212, 708 817, 139 326, 617 110, 455 37, 172 278, 089 133, 972
1973 1, 371, 366 971, 227 389, 632 96, 006 53, 862 527, 510 123, 316
1974 1, 542, 561 941, 074 479, 559 88, 922 38, 644 435, 931 134, 995
1975 1, 745, 667 951, 489 505, 165 101, 380 42, 940 381, 458 150, 902
1976 1, 725, 854 1, 288, 848 630, 268 102, 399 48, 475 103, 848 147, 143
Schedule III
Cit,y of Brooklyn Center
TAX LEVIES AND TAX COLLECTIONS
Last Ten Years
Collections Ratio of
of Current Percentage Collections of Accumulated
Year's Taxes Levy Collected Prior Year's Taxes Ratio of Totat Accumulated Delinquent
Year Total During Fiscal During Fiscal During Fiscal Total Collections Delinquent Taxes to Current
Collected Tax Levy Period Period Period Collections to Tax Levy Taxes Year Tax Levy
1967 799, 792 776, 663 97, il 7, 710 784, 373 9807:1
38, 737 04843:1
1968 868, 807 851, 452 98. 00 14, 205 865, 657 9964:1 45, O11 05181:1
1969 1, 068, 236 1, 036, 863 97. O6 16, 612 1, 053, 475 9862:1 59, 742 05593:1
1970 1, 112, O80 1, 086, 177 97. 6S 20, 620 1, 106, 797 9952:1 65, 026 05847:1
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
w
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, 715, 170 1, 521, 690 88. 72 56, 229 1, 577, 919 9200:1 281, 903 16436:1
Note: The City's taxes are the only ones included in this table.
r i i i
�■s r s r r■� i
City of Brooklyn Center Schedule IV
ASSESSED VALUE AND MARKET VALUE OF ALL TAXABLE PROPERTY
Last Ten Years
I 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977
(1)
(2)
Population (==Actual) 31, 000 34, 306 34, 717 35, 173�= 36, 370 36, 908 37, 207 36, 954 37, 081 36, 116
Real Property
Assessed Value (Limited);
City:
Homestead 10, 148, 539 11, 970, 877 12, 472, 359 6, 882, 636 15, 956, 478 52, 150, 596
53, 857, 283 55, 031, 870 62, 354, 181 69, 130, 468
Excess and non-homestead 5, 093, 781 7, 369, 710 8, 173, 952 19, 089, 306 10, 500, 479 36, 527, 538 40, 147, 670 42, SO1, 704 47, 138, 412 50, 356, 911
Area-wide allocation (net) 460, 981 133, 422 201, 206)
Total Assessed Value 15, 242, 320 19, 340, 587 20, 646, 311 25, 971, 942 26, 456, 957 88, 678, 134 94, 004, 953
97, 994, 555 $109, 626, O15 $119, 286, 173
Estimated Market Value (Limited): $143, 587, 623 $174, 850, 146 $185, 389, 446 $226, 020, 864 $229, 923, 135 $249, 328, 665 $262, 535, 943 $270, 699, 261 $301, 639, 725 $329, 463, 243
Personal Property
Assessed Value 1, 574, 574 1, 603, 159 1, 619, 077 1, 588, 260 1, 313, 422
2, 403, 743 2, 657, 185 2, 852, 992 2, 800, 885 3, 034, 703
Estimated Market Value 10, 230, 330 10, 530, 969 10, 644, 204 10, 394, 151 10, 730, 184
5, 590, 100 6, 179, 500 6, 634, 865 6, 505, 874 7, 059, 986
A
Total Real and Personal Property
Assessed Value 16, 816, 894 20, 943, 746 22, 265, 388 27, 560, 202 27, 770, 379 91, OS1, 877
96, 662, 138 $100, 846, 547 $112, 426, 900 $122, 320, E76
Estimated Market Value $153, 817, 953 $185, 381, 115 $196, 033, 650 $236, 415, 015 $240, 653, 319
$254, 918, 765 $268, 715, 443 $277, 334, 126 $308, 145, 599 $336, 523, 229
Ratio of Assessed Value to
Estimated Market Value 10933:1 11298:1 11358:1 11658:1 11540:1 .35730:1 .35972:1 36363:1 36485:1 .36348:1
Per Capita Valuations
Assessed Value 509.60 610.50 641.34 783.56 763.55 2,467.81 2,597.96 2,729.00 3,031.93 3,386.89
Estimated Market Value 4, 651. 15 5, 403. 75 5, 646. 61 6, 7'L1.49 6, 616.81 6, 906. 87 7, 222. 17 7, 504.85 8, 310.07 9, 317. 84
(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 inclade actual amount allocated parusant to Laws 1971, Extra Sessioa, Chapter 24, from
area-wide "Pool".
City of Brooklyn Center Schedule V
TAX RATES AND TAX LEVIES
Years 1958 Through 1977
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 Dist. #281 Dist. #11
Collectible City School (Earle Brown) (Osseo) (Robbinsdalel (Anoka) pistricts (7) N. H. S. H. S. (Earle Brown) (Osseo) (Robbinsdale) (Anoka)
(1) (2) (3) (4)
Tax Rates Mills Per $100 of Assessed Value
1958 46.47 126.91 119.51 108.64 90.15 38.13 12.62 6.01 224.13 216.73 205.86 187.37
1959 52.05 130.94 146.66 115.18 104.95 39.32 12.42 5.90 234.73 250.45 218.97 208.74
1960 51.00 167.56 157.64 120.10 114.70 40.14 14.32 8.10 273.02 263.10 225.56 220.16
1961 48.26 189.64 163.00 139.20 123.53 A1.46 13.85 6.84 293.21 266.57 242.77 227.10
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 8.22 345.93 309.95 270.41 255.18
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 18.32 352.92 325.68 280.70 275,93
1967 51.62 227.90 203.OQ 158.76 160.00 53.30 17.24 17.14 349.89 324.99 280.75 281.99
1968 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 70.00 388.35 374.00 306.29 386.23
1970 49.65 4.51 294.55 295.42 215.01 297.66 77.18 425.89 426.76 346.35 424.49
1971 44.11 7.96 250,31 216.00 204.90 257.09 77.02 379.40 345.09 333.99 378.22
1972 43.04 10.38 183.24 166.09 147.20 173.68 50.45 317.11 299.96 281.07 297.17
1973 14.718(5) 2.644(5) 55.786(5) 54.023(5) 44.727(5) 54.920(5) 27.014(5) 1Q0.162(5) 98.399(5) 389.103(5) 96.652{5)
1974 15.710(5) 3.084(5) 56.805(5) 54.634(5) 50.289(5) 54.845(5) 28.965(5) 104.564(5) 102.393(5) 98.048(5) 99.520(5)
1975 17.988(5)(6) 3.372(5) 61.074(5) 57.654(5) 50.787(5) 60.190(5) 33.142(5) 115.576(5) 112.156(5) 105.289(5) 111.320(5)
1976 15.607(5)(6) 2.759(5) 54.204(5) 53.435(5) 49.043(5) 55.270(5) 31.275(5) 103.845(5) 103.076(5) 98.684(5) 102.152(5)
1977 15.725(5)(6) 2.485(5) 52.663(5) 53.648(5) 49.875(5) 58.400(5) 34.063(5) 104.936(5) 105.921(5) 102.148(5) 108.188(5)
Tax Levies on Property Within Brooklyn Center
Area School District County Total City,
Year Voc-Tech #286 #279 #281 #11 Total Special Schools,
Coilectible School (Earle Brown) (Osseo) (Robbinsdale) (Anoka) School Districts (7) City State County State
1958 303, 466 134, 960 202, 292 24, 298 665, 016 309, 786 262, 840 48, 723 1, 286, 365
1959 327,629 237,021 228,907 30,387 823,954 252,434 333,000 54,601 1,463,989
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 665,961 976,585 614,756 140,923 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, OS9
1967 836, 669 i, 142, 570 790, 174 210, 428 2, 979, 841 828, 401 804, 858 268, 16S 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, 444, 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, 234, 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, 823, 341
1975 296, 212 1, 652, 565 1, 742, 105 1, 552, 542 754, 898 5, 998, 322 3, 370, 680 l, 805, 754(6) 11, 174, 756
1976 270, 428 1, 681, 797 1, 804, O10 1, 629, 635 789, 077 6 174, 947 3, 511, 979 1, 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
(1) Formerly #118 (2) Formerly #28 (3) Formerly #24 (4) Formerly #Z9, #220 (5) Due to determination of aasessed valuation calculation changed by state law enacted in 1971
(6) Includes tax levy for the Housing and Redevelopment Authority of Brooklyn Center, the resulting mill rate is approximately one-third as great as before the enactment of the
(7) Includes Metro Council, Metro Transit Commission, Mosquito Control District, new law.
Park Museutn.
i i
I City of Brooklyn Center Schedule VI
NOTES TO TAX R.ATES AND TAX LEVIES
Years 1958 Through 1967
Tax Limitation by Statute:
City Tax Levy pursuant to limitations of Laws of Minnesota 1973,
Chapter 650, Article IV, Sections 5, 6&?.
Debt Service, certain special levies, and special assessments for
local improvements not included in above limitation.
Taxes Due Date:
First Monday in January
Taxes Delinquent Date:
Personal Property March 1- amounts over $10. 00 first half
March 1, second half July 1
Real Estate first half May 31; second half October 31
No discount allowed
Penalties for Delinquency; (Amended, Laws 1974, Chapter 459)
Personal Property 8%
Homestead Real Estate June 3%, July 4%, August 5%, September 6%,
October 7%, November and December 8°jo; after first Monday in
January 10%.
Non-Homestead Real Estate June 7%, July 8%, August 9%,
September 10%, October 11%, November and December 12°jo;
After first Monday in January 14%.
Tax sale date second Monday in May
Taxes are certified to Hennepin County and collected by the
County Treasurer and remitted to the City.
Tax collections are distributed in the proportion of the City levy to all
levie s
6
City of Brooklyn Center Schedule VII
SPECIAL ASSESSMENT COLLECTIONS
Last Ten Years
Current Special Total Current
Assessments Amount and 17elinquent Current
Installments Collected Ratio of Current Assessments Percentage Balance
Fiscal Becoming Due During Currently During Collections to Uncollected Collected Uncollected
Period the Fiscal Period the Fiscal Period Amount Due At Year End Through 12/31 Through 12/31
1967 $490, 397 $458, 324 9346:1 $128, 705 99. 75°�0 1, 204
1968 505, 409 466, 466 9229;1 142, 441 99. 72 1, 437
1969 538, 959 476, 727 8845:1 136, 043 98. 69 7, 049
1970 680, 198 605, 385 8900:1 165, 592 99. 37 4, 270
1971 844,. 933 660, 490 7817:1 232, 717 97. 83 18, 354
1972 807, 317 647, 695 8023:1 270, 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
].976 736, 438 444, 699 6039:1 606, 439 60. 39 290, 511
City of Brooklyn Center Schedule VIII
RATIO OF NET BONDED DEBT TO ASSESSED VALUE AND NET BONDED DEBT PER CAPITA
Last Ten Years
Less:Amount Ratio of Net Net Bonded
Fiscal Estimated Assessed Gross In Debt Net Bonded Debt To Debt Per
Period Population Value=�= Bonded Debt Service Funds Bonded Debt Assessed Values�� Capita
1967 31, 570 46, 775, 910 4, 784, 800 $1, 773, 834 $3, 010, 966 0644:1 95. 37
1968 33,�000 50, 450, 682 5, 068, 400 1, 986, 325 3, 082, 075 0611:1 9. 340
1969 34, 306 62, 831, 238 7, 626, 400 1, 534, 261 6, 092, 139 0970c 1 177. 58
1970 35, 173 66, 796, 164 10, 733, 000 1, 805, 385 8, 927, 615 1337;1 253. 82 I
a
1971 36, 370 82, 680, 606 10, 005, 000 1, 793, 277 8, 211, 723 0993:1 225. ?8
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, 847, 547 7, 605, 000 2, 115, 984 5, 489, 016 0544:1 148. 03
1976 36, 116 112, 426, 900 7, 770, 000 2, 188, 250 5, 581, 750 0496:1 154. 55
�4Assessed value has been restated for years prior to 1972 so as to be on a basis comparable
to 1972.
Citv of Brooklvn Center Schedu�e IX
COMPUTATION OF DIRECT AND OVERLAPPING DEBT
December 31 1976
City of Brooklyn Center
Gross Sinking Net Share
Governmental Unit Debt Funds Debt Per Cent Amount
Direct and Overlappina Debt
Direct Debt:
City of Brooklyn Center 7,770,000(1) 2,188,250 5,581,750 100.00% 5.581,750
Overlapping Debt:
School Districts:
No. 281 (Robbinsdale) 29,583,000 4,574,843 25,008,157 10.20% 2,550,832
No. 11 (Anoka) 42,081,780 3,263,408 38,818,372 5.90% 2,290,284
No. 279 (Osseo) 25,900,403 4,507,364 21,393,039 26.80% 5,733,334
No. 286 (Brooklyn Center) 1,920,000 162,128 1,757,872 100.00% 1,757,872
Area Voc Tech School
No. 287 20,200,000 1,587,202 18,612,798 4.90% 456,014(2)
Metro Transit 16,950,000 2,175,440 14,774,560 1.50% 221,618
Metro Council Revenue Supported 197 471 000 14 ,125 906 183 345 094 (3) (3)
Metro Council Tax Supported 35,540,000 19,086,726 16,453,274 1.50% 246,799
Hennepin County 45,275,000 4,503,812 40,771,188 2.70% 1,100,822
Hennepin County Park District 9,600,000 827,439 8,772,561 2.70% 236,859
Total Overlapping Debt $424,521,183 54,814,268 $369,706,915 14,594,434
Total Direct and Overlapping Debt $432 291 ,183 5 7, 002 518 $375 2 88 665 2 0,176 ,184
(1) Includes $4,350,000 debt outstanding to be paid from special assessments, $875,000 debt outstanding on State Aid
Street Bonds and $660 000 debt outstanding on revenue bonds
(2) This debt is approximately 50% supported by State Aids and has been so reduced here.
(3) This debt is paid by Metro area sewer service charges, including Brooklyn Center from its municipal sewer system.
Direct Overlapping
Comparative Net Debt Ratios CharQeable to Citv Total Debt Debt
Debt to assessed value ($122 320, 876) 16. 49% 4.56% 11 93%
Debt to market value ($329, 463 243) 6.12% 1.69% 4.43%
Per capita debt (population 36,116) $558. 65 $154. 55 $404.10
i■■� I
City of Brooklyn Center Schedule X
STATEMENT OF LEGAL DEBT MARGIN
December 31, 1976
Assessed Value, January 1, 1976 $122, 320, 876
Debt limit 6. 67°Jo of assessed value (See Note A) 8, 158, 802
Total bonded debt $7, 770, 000
Deductions (See Note B):
A. Bonds
1. Special Assessment $4, 350, 000
Bonds
2. State Aid Street Bonds 875, 000
3. Utility Revenue Bonds 660, 000
$5, 885, 000
B. General Debt Service Fund 243, 169 6, 128, 169
Total Debt Applicable to Debt Limit 1, 641, 831
Legal Debt Margin, December 31, 1976 6, 516, 971
Note; (A) M. S. A. Section 475. 53 (See following page)
ote• B M S A Section 475. 51 (See followin a e)
N gP g
10
Schedule X
City of Brooklyn Center (Cont'd)
STATEMENT OF LEGAL DEBT MARGIN
December 31, 1976
Note (A): M. S. A. Section 475. 53 et seq. Limit on Nebt Debt
"Subdivision 1. 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
wholly or partly from the proceeds of special assessments
levied upon property specially benefited thereby, including
those which are general obligations of the municipality issuing
them, if the municipality is entitled to reimbursements in whole
or in part from the proceeds of the special assessments.
(2) Warrants or orders having no definite or fixed maturity.
(3) Obligations payable wholly from the income from revenue- t
producing conveniences.
(4) Obligations issued to create or maintain a permanent improve-
ment revolving fund.
(5) Obligations issued for the acquisition, and betterment of
public water-works systems, 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.
11
r
City of Brooklyn Center Schedule XI
RATIO OF ANNUAL DEBT SERVICE EXPENDITURES FOR GENERAL
BONDED DEBT TO TOTAL GENERAL EXPENDITURES
Last Ten Years
Ratio of Debt
Total Total General Service to General
Year Principal Interest Debt Service Expenditures Expenditures (°jo)
1967 59, 400 22, 280 81, 680 $1, 185, 075 6. 89%0
1968 51, 000 19, 604 ?0, 604 1, 369, 842 5. 15°fo
1969 51, 000 37, 608 88, 608 1, 591, 987 5. 57�fo
1970 49, 600 164, 778 214, 378 1, 679, 129 12. 77°�0
1971 68, 800 228, 351 297, 151 2, 210, 671 13. 44%0
N
1972 90, 000 223, 927 313, 927 2, 219, 355 14. 14°jo
1973 165, 000 219, l0i 384, 101 2, 278, 020 16. 86�fo
1974 180, 000 209, 397 389, 397 2, 577, 758 15. l0�jo
1975 185, 000 198, 708 383, 708 2, 839, 621 13. 51%
1976 225, 000 186, ?30 411, 730 3, 224, 183 12. 76%
City of Brooklyn Center Schedule XII
SCHEDULE OF REVENUE BOND COVER,AGE
Last Ten Years
Net Ratio of Net
Gross (1) Revenue Debt Service Revenue to
Year Revenue Expenses Available Principal Interest Total Debt Service
1967 669, 098 $282, 528 $386, 570 38, 000 39, 816 77, 816 5. 0 to 1
1968 743, 316 292, 818 450, 498 38, 000 38, 350 76, 350 5. 9 to 1
1969 854, 367 360, 249 494, 118 40, 000 36, 775 76, 775 6. 4 to 1
1970 1, 060, 322 400, 824 659, 498 45, 000 35, 200 80, 200 8. 2 to 1
1971 1, 140, 730 558, 189 582, 541 45, 000 34, 300 79, 300 7. 3 to 1
w 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, 525 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
(1) Excludes depreciation and interest on bonds.
1971 and prior includes Liquor Store Revenue Bonds.
r r
Schedule XIII
SUMMARY OF DEBT SERVICE REQUIREMENTS TO MATURITY
December 31, 1976
City of Brooklyn Center Schedule XIII
SUMMARY OF DEBT SERVICE REQUIREMENTS TO MATURITY
December 31, 1976
Total Total Total Total
Fiscal General G. O. Special State-Aid Total Debt Service
Year Obligation Bonds Assessment Bonds Street Bonds Revenue Bonds Requirements
1977 278, 615 715, 006 109, 515 60, 740 1, 163, 876
1978 273, 965 740, 835 106, 215 59, 375 1, 180, 390
1979 253, 990 665, 530 102, 915 58, O10 1, 080, 445
1980 229, 665 626, 757 99, 546 56, 645 1, 012, 613
1981 211, 145 513, 435 96, 109 60, 231 880, 920
1982 207, 965 463, 472 97, 515 58, 720 827, 672
1983 204, 460 429, 665 93, 750 57, 160 785, 035
1984 200, 630 516, 529 89, 940 55, 600 662, 699
1985 181, 475 282, 325 86, 070 58, 991 608, 861
1986 177, 700 153, 185 82, 140 57, 285 470, 310
1987 168, 600 136, 345 78, 165 55, 530 438, 640
1988 169, 500 115, 070 74, 160 53, 775 412, 505
1989 159, 750 89, 330 70, 125 52, 020 371, 225
1990 64, 830 66, 075 50, 265 181, 170
1991 61, 620 62, 025 48, 510 172, 155
1992 46, 755 46, 755
Total $2, 717, 460 $5, 573, 934 $1, 314, 265 889, 612 $10, 495, 271
r
City of Brooklyn Center Schedule XIII
SUMMARY OF DEBT SERVICE REQUIREMENTS TO MATURITY Continued
December 31, 1976
Total
Fiscal General Obligation Bonds G. O. Special Assessment Bonds G. O. State-Aid Street Bonds Revenue Bonds Debt Service Requirements
Year Principal Interest Principal Interest Principal Interest Principal Interest Principal Interest
1977 160, 000 118, 615 505, 000 210, 006 55, OOQ 54, 515 35, 000
25, 740 755, 000 408, 876
1978 165, 000 108, 365 545, 000 195, 835 55, 000 51, 215 35, 000 24, 375 800, 000 380, 390
1979 155, 000 98, 990 495, 000 170, 530 55, 000 47, 915 35, 000 23, O10 740, 000 340, 445
1980 140, 000 89, 665 480, 000 146, 757 55, 000 44, 546 35, 000 21, 645 710, 000 302, 613
1981 130, 000 81, 145 390, 000 123, 435 55, 000 41, 109 40, 000 20, 231 615, 000 265, 920
1982 135, 000 72. 965 360, 000 103, 472 60, 000 37, 515 40, OOJ 18, 720 595, 000 232, 672
1983 140, 000 64, 460 345, 000 84, 665 60, 000 33, 750 40, 000 17, 160 585, 000 200, 035
1984 145, 000 55, 630 450, 000 66, 529 60, 000 29, 940 40, 000 15, 600 695, 000 167, 699
1985 135, 000 46, 475 240, 000 42, 325 60, 000 26, 070 45, 000 13, 991 480, 000 128. 861
1986 140, 000 37, 700 125, 000 28, 185 60, 000 22, 140 45, �00 12, 285 370, 000 100, 310
1987 140, 000 28, 600 115, 000 21, 345 60, 000 18, 165 45, 000 10, 530 360, 000 78, 640
1988 150, 000 19, 500 100, 000 15, 070 60, 000 14, 160 45, 000 S, 775 355, 000 57, 505
1989 150, 000 9, 750 80, 000 9, 330 60, 000 10, 125 45, 000 7, 020 335, 000 36, 225
1990 60, 000 4, 830 60, 000 6, 075 45, 000 5, 265 165, 000 16, 170
1991 60, 000 1, 620 60, 000 2, 025 45, 000 3, 510 165, 000 7, 155
1992 45, 000 1, 755 45, 000 1, 755
Total $1, 885, 000 832, 460 $4, 350, 000 $1, 223, 934 875, 000 439, 265 660, 000 229, 612 $7, 770, 000 $2, 725, 271
(Schedule XIII)
City of Brooklyn Center $chedule XIV
SCHEDULE OF INSURANCE COVERAGE
December 31, 1976
Policy Period
Type of Covera�e and Details From To Liat�ility Limits
I. Statutory Liability to Employees
a. Workers' Compensation 7-1-76 7-1-77 Statutory
II. Liability to the Public
a. �General Liability, Comprehensive 1-1-75 1-1-78
(1) Bodily Injury 300, 000 Combined Siny;le Limit
(2) Property Damage 30Q 000 Combined Sin Limit
(3) Personal Injury 300, 000 Combined Sin ;le Limit
b. Automobile Liability, Comprehensive 1-1-76 1-1-77
(1) Bodily Injury 300,000 pccurrence
(2) Property Damage 300,000 Occurrence
(3) Uninsured Motorist 300,000 Occurrence
c. Liquor Stores' Dram Shop 1-.1-75 1-1-75 30Q 000 Occurrence
d. Umbrella Liability 1-1-75 1-1-78 5, 000, 000 Occ. /Agr.
10, 000 Retained Limit
III. Loss of Income on City Enterprises
a. Liquor Stores 1-1-75 1-1-78 50,000 Per Location
b. PublicUtilities 1-1-75 1-1-78 300,000
Buildings and Structures Content:;
(Replacement Cost (Actual Cash Value)
IV. Insurance on City Property
a. Public and Institutional Property,
All Risk, $100 Deductible, 90°f
Co-Inaurance 1-1-75 1-1-78
(1) Civic Center $2,060,000 $200,000
(2) East Fire Station 235, 000 10, 000
(3) Municipal Service Garage 445, 000 30, 000
(4) Elevated Water Towers 3 locations 1, 800, 000
(5) Park Shelter Buildinga 17 locations 406, 000
(6) Pump Houses 6 locations 189, 000 52, 000
(7) Lift Stations 9 locations 416, 000
Meter Station 25, 000
(9) Old City Hall (CEAP) 80, 000
(10) Storage Buildings 2 locations 49, 000
(11) Park Garage 15, 000 1, 000
(12) Outdoor Lighting Systems 6 locations 89, 000
(13) Liquor Store Fire Station 190,000 91,000
(14) Leased Liquor Stores 2 locations 210,000
(15) Movable Properties 109, 330
Liability Limits
b. Boiler and Machinery 1-1-75 1-1-78 1, 000, 000 per Accident
c. Automotive Physical Damage 1-1-76 1-1-77
(1) Comprehensive ACV No Deductible
(Z) Collision ACV 500 Deductible
V. Criminal Acts
a. Fidelity and Faithful Performance 200, 000 Per Loss
b. Money and Securities (broad form) Various
c. Depositor's Forgery 50, 000
*The comprehensive general liability includes the following additional coverages:
(a) All employees as additional insureds
(b) Personal injury coverage to include false arrest, libel, slander, wrongful entry or eviction or invasion of right of privacy
(c) Broad contractual liability
(d) Products liability
16
City of Brooklyn Center Schedule XV
MISCF:LLANEOUS STATISTICAL FAC`PS
December 31, 1976
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 Year Begins January 1
Area of City 8 2 square miles
Miles of Streets;
City 99
State 12
C ounty 6
Miles of Storm Sewers 37
Number of street lights 879
Building Permits:
Number of Permits Issued:
1976 568
1975 645
1974 423
1973 390
1972 708
t 1971 425
1970 404
1969 460
1968 544
1950-1967 inclusive 10, 930
Estimated Cost:
1976 3, 786, 638
1975 5, 972, 910
1974 6, 968, 172
1973 5, 110, 140
1972 19, 907, 041
1971 8, 487, 763
1970 7, 499, 386
1969 10, 441, 322
1968 13, 111, 654
1950-1967 inclusive 121, 592, 358
Fire Protection:
Number of Stations 2
Number of Volunteer Firemen 31
Police Protection:
Number of Stations 1
Number of Employees 41
Vehicle Patrol Units 10
17
City of Brooklyn Center Schedule XV
MISCELLANEOUS STATISTICAL FACTS (Cont'd)
December 31, 1976
Parks and Recreation:
288 acres developed for regular use. 200 additional acres of City-owned
land designated for parks and playgrounds to be developed.
Full-time employees 15
Part-time employees 300 (seasonal)
Supervised playgrounds 17
Park shelters 17
Ice skating rinks 17
Hockey rinks 6
Softball diamonds 26
Baseball diamonds 5
Wading pools 2
Tennis courts 10
Basketball courts 6
E ducation:
Public Schools:
School Districts within Brooklyn Center (4)
No. 11 No. 286 No. 281 No. 279
(Anoka (Earle Brown) (Robbinsdale) (Osseo)
Total school buildings 34 2 26 17
School buildings within
Brooklyn Center 1 2 1 3
Total students registered 32, 637 1, 848 23, 251 14, 450
Students from Brooklyn
Center registered 1, 625 1, 848 1, 339 3, 914
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
1976 assessed valuation $322, 594, 941 $34, 279, 751 $404, 960, 156 $185, 637, 950
�=1976 assessed valuation
in Brooklyn Center 15, 111, 068 $34, 279, 751 37, 173, 504 35, 957, 759
Parochial schools (1)
St. Alphonsus School grades 4-8 Total students registered 356
��Assessed valuation prior to fiscal disparities and tax increment calculations.
18
City of Brooklyn Center Schedule XV
MISCELLANEOUS STATISTICAL FACTS (Continued)
December 31, 1976
Municipal VVater Plant:
Number of connections 7, 363
Average daily consumption 4, 070, 575 gallons
Peak daily consumption 10, ?00, 000 gallons
Plant capacity daily 12, 384, 000 gallons
Miles of water mains 106
Number of fire hydrants 759
Number of wells 7
Number of elevated reservoirs 3
Storage capacity 3, 000, 000 gallons
Water rate per thousand gallons 35�
Municipal Sewer Plant;
Number of connections 8, 032
Miles of sanitary sewer 97
Daily disposal capacity 7, 416, 000 gallons
Number of life stations 9
Residential rate $8. 75 per quarter
Municipal Liquor Stores (Off Sale)
Number of owned stores 1
Number of leased stores 2
1976 sales $1, 928, 717
City Employees:
As of December 31, 1976
Permanent or regular 117
Temporary or part-time 119
Total 236
Elections:
General election 1976 23, 504
Number of votes cast in general election 16, 776
Percentage of registered voters voting 71. 4%
Registered voters last state election 19, 664
Number of votes cast last state election 10, 851
Percentage of registered voters voting 55. 2°Jo
Population:
1940 1, 870
1950 4, 284
1960 24, 356
1965 (special census) 30, 108
1970 35, 173
1975 36, 954
Estimated residential saturation point 49, 000
19