HomeMy WebLinkAboutAnnual Audited Financial Report-1973 i
ANNUAL
AUDITED FINANCIAL REP�RT
1 of the
CITY MANAGER
of
BROOKLYN CENTER, MINNESOTA
For The Year Ended December 31, 1973
DONALD G. PO55, CITY MANAGER
Prepared by
THE DEPARTMENT OF FINANCE
Paul W. Holmlund, Director
Member of Munici al Finance OfFicers
I P
Association of the Un�ted States and Canada�
Citv of Br�oklvn Center
ANNUAL FINANCIAL REPORT
For the Year Ended December 31, •1973
TABLE OF CONTENTS
Exhibit Page
Numbe r Numbe r
Certificate of Conformance 1, 2
Listing of City Officials 3, 4
Organization Chart 5
Location of City Properties 6
Lette r of T ran smittal 7
General Comxnents 8, 9, 10, 11, 12, 13
Financial Statements Section
Audito r's Repo rt 14
Combined Balance Sheet All Funds and Account
Groups (Condensed Form) December 31, 1973 1 15, 16
General Fund Statements
Balance Sheet (Comparative) December 31, 1973
and 1972 2 17
Statement of Changes in Fund Balance (Comparative)
Year Ended December 31, 1973 and 1972 3 18
Statement of Revenues, Expenditures, Encumbrances
and Transfers Years Ended December 31, 1973
and 1972 4 19
Statement of Revenue Budget and Actual
Objective Classification Year 1973 5ched. 4-A 20, 21
Statement of Expe�nditures and Encumbrances
Budget and Actual Classified as to Activity
Character and Object Year 1973 Sched. 4-B 22, 23, 24, 25
�y v of B rookl�n Cente r
ANNUAL FINANCIAL REPQRT
For the Year Ended December 31. 1973
TABLE OF CONTENTS
Exhibit Page
iVumbe r Numbe r t
Special Revenue Funds Statements
C b' e Bala ce Shee Com ara ive
om in d n t( p t
December 31, 1973 and 1972 5 26, 27
Combined Analysis of Changes in Fund
Balance Years 1973 and 1972 6 28 29
Combined Statement of Revenue and Expenditure s
Years 1973 and 1972 7 30, 31
Capital Proiects Funds Statements
Combined Balance Sheet (Comparative)
December 31, 1973 and 1972 8 32, 33
Combined 5tatement of Appropriations
Expenditure s and Fund Balance s
Years 1973 and 1972 9 34, 35
Debt Service Funds Statements
Combined Balance Sheet (Comparative)
December 31, 1973 and 1972 10 36, 37
Combined Statement of Revenue, Expenditures
and Fund Balances Years 1973 and 1972 11 38, 39
5 ecial Assesament Funds Statements
Combined Balance Sheet (Comparative)
December 31, 1973 and 1972 12 40, 41
Combined Statement of Revenue, Expenditures
and Unappropriated Surplus for Debt
Retirement (Comparative) Years 1973 and
1972 13 42, 43
t
Citv of Brooklvn Center
ANNUAL FINANCIAL REPORT
For the Year Ended December 31, 1973
TABLE OF CONTENTS
Exhibit Page
Numbe r Numbe r
Snecial Assessment Funds Statements. Cont'd
Construction Expenditures Compared to
Appropriations and Assessment of Costs
Year 1973 14 44, 45, 46
Statement of Lon,g-Term Debt (Principal
Amount Outstanding) December 31, 1973 15 47, 48
Public Service and Enterprise Funds Statements
Municipal Liquor Fund
Balance 5heet (Comparative) December 31,
1973 and 19.72 16 49, 50
Analysis of Changes in 5urplus (Comparative)
Year 1973 and 1972 17 51
Statement of Changes in Financial Position
(Comparative) Years 1973 and 1972 18 52
Statement of Income and Expense (Comparative)
Years 1973 and 1972 19 53� 54
Public Utilities Fund
Balance Sheet (Comparative) December 31,
1973 and 1972 20 55, 56
Statement of Changes in Financial Position
(Comparative) Years 1973 and 1972 21 57
Statement of Operations and Retained
Earnings (Compaxative) Years 1973 and
1972 22 58
Water Department Operating Expenses
(Comparative) Years 1973 and 1972 23 59, 60
Sewer Department Operating Expenses
(Comparative) Years 1973 and 1972 24 61, 62
Citv of B rooklvn Cente r
ANNUAL FINANCIAL REPORT
For the Year Ended December 31, 1973
TABLE OF CONTENT5
Exhibit Page
Numbe r Numbe r
Public Service and Enterprise Funds Statements, Cont'd
Public Utilities Fund Cont'd
5ummary Statement of Plant and Property
and Allowance for Depreciation
December 31, 1973 25 b3, 64
5taternent of Long-Term Debt (Revenue
Bonds and Interest Coupons Outstanding)
December 31, 1973 26 65, 66
Trust and A�encv Funds Statements
Combined Balance Sheet (Comparative)
December 31, 1973 and 1972 27 67, 68
Combined Statement of Revenue, Expenditures
and Fund Balances (Comparative)
Years 1973 and 1972 28 69 70
Investment Trust Fund Statements
Balance Sheet (Comparative)
December 31, 1973 and 1972 29 71, 72
5tatement of Earnings (Comparative)
Years 1973 and 1972 30 73
Change s in Participating Fund
Balances Year 1973 31 74
General Fixed Assets and General Lon�-Term Debt
Summary Statement of General Fixed Assets
December 31, 1973 32 75, 76
Summary Statement of General Long-Term Debt
and Interest (Cornparative)
December 31, 1973 and 1972 33 77
City of Brooklyn Center
ANNUAL FINANCIAL REPORT
For the Year Ended December 31, 1973
TABLE OF CONTENTS
Exhibit Page
Numbe r Numbe r
General Fixed Assets and General Lon�-Term Debt,Cont'd
5chedule of General Long-Term Debt and Interest
by Maturities December 31, 1973 34 78, 79
Notes to Financial Statements
Note 1 All Funds gp
Note 2 All Funds gp
Note 3 Stiecial As se s sment Funds g 1
Note 4 Municipal Liquor Fund gl
Note 5 Public Utilities Fund g�� 83
Note 6 Public Utilities Fund 83 84
Note 7 Public Utilities Fund 84, 85
Note 8 Summary Statement of General Lon�-Term
Debt and Inte re st gb
Note 9 Lib ra ry Sale s Fund g 6
Citv of Brooklyn Center
ANNUAL FINANCIAL REPORT
For the Year Ended December 31, 1973
TABLE OF C�NTENTS
Pa ge t
Schedule Numbe r
Statistical Information Section
Assessed Value and Estimated True Value and
1.Vlarket Value af All Taxable Propexty by
Budget Years i 87, 88
Tax Rate s and Tax Levie s
Years 1953 Through 1974 II 89, 90
Notes to Tax Rates and Tax Levies
Years 19 5� Through 1974 III 91
Tax Levies and Tax Collections i
Last Ten Years IV 92, 93
Special Assessments Gollections
Last Twelve Years V 94, 95
Revenues Other Than Property Taxes and
Special Assessments
Last Ten Years VI 96: 97
Expenditures for Selected Functions
Last Ten Years VII 98
Ratio of Net Bonded Debt to Assessed Value and
Net Bonded Debt Per Capita
Last Twelve'�ears VIII 99, 100
Statement of Legal Debt Margin, December 31,
1973 IX 141
Computatian of Direct and Overlapping Debt
December 31, 1973 X 102, 103
Ra�io of Annual Debt Service Expenditures for
General Bonded Debt to Total General
Expenditures Last Ten Years XI 104, 105
Schedule of Revenue Bond Coverage
Last Ten Yeaxs XII 106, 107
Miscellaneous Statistical Facts
December 31, 1973 XITI 108, 109, 110
THE MUNICIPAL FINANCE OFFICERS ASSOCIATION
OF THE UNITED STATES AND CANADA
dtrti#[tg t�jat
THE ANNUAL FINANCIAL REPORT OF
�1��e Cit of Bro okl n Cen ter, Minn esot�a
v y
�or the Year �nded De�ember31
SUBSTANTIALLY CONFORMS 'TO THE PRINCIPLES AND STANDARDS OF
PUBLIC FINANCIAL REPORTING AS PROMULGATED BY THE
�unicipai �inatuc �fficcr�c �ggociation
,lND TXE
,�ateonaY �Committ�c on iobcrrimcntai S�uounting
P�ced September �9 ty67. C�drww, Caw+winer ow Acc..+M+��
ds�r�a�r Dirrr�w
ri■ r w� r�■
CITY OF BROOKLYN CENTER, MINNESOTA
CERTIFICATE OF CONFORMANCE
(Jn 5eptember 19, 1967, the MUNICIPAL FINANCE OFFICERS ASSOCIATION OF THE
UNITED STATES AND CANADA certified that the Annual Audited Financial Report of the
City of Brooklyn Center, Minnesota For The Year Ended December 31 1966 conformed to
the principles and standards of public financial reporting as promulgated by the Municipal
Finance Officers Association and the National Committee on Governmental Accounting.
A Certificate of Conformance is awarded by the Municipal Finance Officers Association
i" of the United States and Canada only to the governmental unit whose financial report is
judged to conform substantially to the high standards for financial reporting established by
the Association. These standards are contained in publications of the National Committee
on Governmental Accounting,
We believe our present annual report for the year ended December 31, 1973 continues
to conform substantially to such standards.
DEPARTMENT OF FINANCE
CITY OF BROOKLYN CENTER
Citv of B rooklvn C ente r
LTSTING OF CITY OFFICIALS
For the Year Ended December 31. 1973
Elected Officials
Term of Office Term Expires
Mayor Philip Cohen Two Years 12-31-73
Councilman John Leary Three Years 12-31-73
Councilman Maurice Britts Three Years 12-31-74
Councilman Bill Fignar Three Years 12-31-75
Councilman Tony Kuefler Three Years 12-31-75
Officials Not Elected
City Manager ponald G. Poss
City Cle rk Allen S, Lindman
City Treasurer Paul W, Holmlund
City Attorney Richard Schieffer
Administrative Assistant Daniel Hartm�.n
Administrative Assistant James Lacina
Department Heads:
Finance Paul W. Holmlund
Public Works James Merila
Police Thomas G. O'Hehir
Fire Donald Mason
Planning and Inspection A. Blair Tremexe
Parks and Recreation Eugene Hagel
Assessment John Nordberg
Liquor Stores Truman Nelson
5treet and Park Superintendent Henry Davis
Public Utilities Superintendent Frank 5xnith, Jr.
Recreation Superintendent Arnold Mavis
Health Officer R. I. Shragg, M.D.
F'ire Marshall Donald Mason
Sanitarian John Urbach
-3-
Citv of Brooklvn Center
LISTING OF CITY OFFICIALS
At June 30. 1974
Elected Officials
Te rm of Office Term Expi re s
Mayor Philip Cohen Two Years 12-31-75
Councilman Maruice Britts Three Years 12-31-74
Councilman Tony Kuefler Three Years 12-31-75
1 Councilman Bill Fignar Three Years 12-31-75
Councilman Robert Jensen Three Years 12-31-76
Officials Not Elected
City Manager ponald G, Poss
City Clerk Allen S. Lindman
1 City Treasurer Paul W, Holmlund
City Attorney Richard Schieffer
Administrative Assistant Daniel Hartman
Administrative Assistant James Lacina
Department Heads:
Finance Paul W, Holmlund
Public Works James Merila
Police Thomas G. O'Hehir
Fire Donald Mason
Planning and Inspection A. Blair Tremere
Parks and Recreation Eugene Hagel
Assessment John Nordberg
Liquo r Sto re s T ruman Nelson
Street and Park Superintendent Henry Davis
Public Utilities Superintendent Frank Smith, Jr,
Recreation Superintendent Arnold Mavis
Health Officer R. I. Shragg, M.D,
Fire Marshall Donald Mason
1 Sanitarian John Urbach
Civil Defense Coordinator James Lindsay
I
1
-4-
ORGANI ZATI ON CHART
COUNCIL MANAGER PLAN
City of Brooklyn Center, Minnesota
ADVISORY ELECTORATE CHARTE R COMMISSION
Capital Improvement Review Bd.
ADVISORY
Youth Advisory Commission
ADVISORY CITY COUNCIL
Housing Commission
ADVISORY CITY ATTORNEY
Conservation Commission
�i
ADVISORY City Manager Administrative Assistant
Human Rights Commission City Clerk
v� Purchasing Officer
ADVISORY
Parks and Recreation Commission
ADVISORY Administrative Assistants
Planning Commission
Civil
Defense
1
I
I� i i 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 Assessment
Inspection City Health Department Department �Department. Department
Department Treasurer Department City
Government Enqineer
Buildings
i t
Engineering Street Public
Division Division Utilities
n
�::i:,• ,_�==1== °_�l1111111 =��:z,,:.-,:,c::�c�
I I .0 n. u.'�� 1=1::
�'�"��:I� y-�nr,"'iiiurq��,� 1 �I�'I �noriiui �S I
��1�� I I//iqp nuuuo m I
:i.: T`��� �:���CI�?I� nnnnm s% S% �1 C.
�Pu°.� i� S�I S A i►. ��C��_ ui m iu�( �-T--��-i��UI�
i�'�b�. 1 SmhiL �i muuw
�N\�� ��ouwm ��!uruun. I- J �f
�n �S u� n��=�
1 -I=?��,;= s_ m��l.� ;r_�_-� e�=9i::::
J_•
p mn3�? s=�s� 1 e' -e 9;I���i 1 f% �..5: �iu'�i�i I'l �3^� l iu �i 1.
�N h
I ����'SI� �'IIN� ����\�l n �i��
j
==r 7' c '=1==1...�.. ri,� -I.;
:n�.-. �..1 .iri�..C t iuA�x�u�. CI���� �3��1 1� 1 i� 3
TT:=: u �-�1=
n��. J �W :i��iiii�� l
'�=1 J
uu..: u:u.p, y I�
iiiiii:� O.�uq11i �1_��1�
::�I�I�aI�?I�1��,��" s _I:xl�lz :ii�N;�Niq S�/\�� e='
�w�iu?aN��J
�uuu�u�unn....u��i� ����h� �ii
=..T-.-'� t.
uuum s�INNlII 4b C�
C :%iionuq� p��� /ij u 3
�f�N� �iu�u� �ON�N ��YMNI �IU►I�II�� i, I I
-f.:: �.:.n...u..: w�sMnN D .�i� I �,f��� .'�3�
':::�■�.�.�u�t: C 11MW[�` I U��4.\�i�11,/�� S I �a\�
I s`n�u►�..._ 1=€� _r��.��...•.-• S' I��/i i��1=�'�i
u" i :,,T......� °�mTe Tr� °•�i n�iUp �ij��Ti1
u■ r_
�p� unt-p �_I �.�`�I =I� 1�,IIIIIU����� 11 IY���� I
'II: I II�Ih %I�� U�OI �1
'S �i�7 �i1 nn�i� \n mm� s' J �I
'�im 7 nni� �uu�• I� C
I�:.ii:: i�iLiP I"IL�� :u�A�nl���sl C q �u��� ,�I�uu�� n S� SO I
u.....w:= u��►�= Y, y.r� �S g i�• 9 Ss�� unu���������� �i
����1����. i�N�1111� �Y I% �11� i� S �pN����1����1�
�u
r.
iiiiii �1111111= ii°� iiiiirii��• 11 b
.uum Li NI/ �II A
•�u.n�; �e_ muU �ll 1' nw ����o min�v �Y �C
'.m�u�. n 1 eu u umn .n nn.n�: t n:�
��N�N tuM� ��Mn H��� ir I��►
��1 11
+I� wN ���m =j��/ e m i° �s
u�un, _r..8�r.. `i�-i�
�NN�NN�.�
i� i Ii�=�
.x� a �s �I;_I==-? =5'=e1=T
�3'.f'= a"��u s :s i 1==
-inm
��nu .:�ael!= ia o-
y
-l ii' 2 •w 1NIj n �IO:IC� :��r �e
���5 ..�i���• 711� S.� n p u �G�.
vml:� i �i'�jii����
:n Il�iiiiii 1111 'G 'S O 'C I.'
u.mmu��
umu� �i�l� �%e' r� xx 3S i����
nmT��i�1��� SST 0�l3�.
�w i�i:d�_�1���..s. i `�.yL_�� �I:�I__I_: S! C G il��'�e �1����
�Liiiiin i �����`I�: C i� =e Cm�! S
5' I,u����n C �j'\i111l11II/: '1� C�'� �i
=imm���/ J i r'�� �ii'� =L
ona� i s
nm.::. �i s1 ''e 6_ _p s I! e o
n� n��=. ■I �-`=i �ii��� SG 1,�� i
�111 IIIIIII��IOIi :i i� ��Ci �i S� III
I 1110/O�II�I�I 1��\ ■.I11
f�� �nui�� i a Z�Yl������' •���s�.0 1
�i.�� ���\N�\i K G: ��i�:::�'. 3S S� :i�� ga !ie�n_
����u�m�:��`'�_, e �,_._i.`.':ii� �3:=:���°�`� .e�
ii�'ini 1
Y l�nin���,y��� 1 .n„��' T: =S e, ':'.ai'_ 7��i I �I- ':I� 1
�mu�u�N �I e �"s
`nm� I �.��i_� Eiil:i
T i
ni':..�
�411 111
nmpn"s r�=:
���MNMIII.
1
I
1 Di�
St
i
11����\
�a ����N�� 11
=1 ���1������
PNIU��+"'1�.
L
E. 4� 4�f 1 i
OF
6301 SMINGLE CREEK PARKWAY
u
4 ROOIILYN BROOKI.YN CENTER, MINNESOTA 55430,
TELEPHONE (612) 561-5440
C E N T E R
I
d �t'? k� "+�'u.�`�
June 30, 1974
To the Mayor and Council
City of Brooklyn Center, Minnesota
Gentlemen:
Section 7.12 of the City Charter requires the City
Manager to submit an audited report to the Council covering
the entire financial operations of the City for the past
year on or before the last day of June. A summary of that
report shall be published in the official city newspaper on
or before July 31 of each year.
The annual audited financial report of the City for the
year ended December 31, 1973, prepared by the Department of
Finance under my general supervision, is submitted for your
consideration. The summary of the report will be published
in the Brooklyn Center Post on July 25, 1974.
Respectfully submitte�,
i
�,,'<r-,,,<<,,,�;,�.,:�'. -y-•.-
1
Donald G. Poss
City Manager
-7-
"��ie .�asrccet�iust� �aze
C ity of B rooklyn C ente r
I GENERAL COMMENTS
Or�anization
Brooklyn Center was incorporated as a Village on February 14, 1911,
and became a City of the second class on December 8, 1966 thirty days from
the adoption of the City Charter by a referendum'vote of the people.
The form of government established by the Charter is the "Council-
Manager Plan". The Council exercises the legislative power of the City and�
determines all matters of policy. The Council is composed of a Mayor and
four Councilmen who are el ected 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 �'reasurer are subordinate to and
appointed by the City Manager. The City Clerk has duties in connection with
the keeping of the public records, The City Treasurer has duties in connection
with the receipt, disbursement and custody of public funds.
The City Attorney is appointed by the Council. All other officers and
r employees of the City are appointed by the City Manager. Appointment or
removal of department heads are made final upon a majority vote of the Council.
_8_
City of Brooklyn Center
GENERAL COMMENTS
Financial Control and the Bud�et
The City Charter grants the City Council full authority over the
financial affairs 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, and special assessment funds, be budgeted. The City
Manager is charged with the responsibility of preparing the estimates of
the annual budget and the enforcement of the provisions of the bud et as
g
specified in the budget resolution. Upon adoption of the annual budget
resolution by the Council it becomes the formal budget for City operations.
After the bud et resolution is ado ted the Council can increase the bu
g p dget
only if actual receipts exceed the estimates or from accumulated surplus
in the amount of an unexpended appropriation from the previous fiscal year.
Financial reports, which compare actual performance with the budget
are prepared monthly and presented to the Council so the Council is able to
review the financial status and measure the effectiveness of the budgetary
controls.
Governmental budget procedures are not used in connection with the
liquor stores or public utilities operations., because these operations are
primarily of commercial nature and employ concepts peculiar to revenue
producing entitites.
A suinmary of the budget document as originally adopted (prior to
subsequent amendments) for the calendar year 1973 follows:
-9-
Citv of B rooklyn C ente r
GENERAL COMMENTS
Financial Control. Cont'd
Proposed Exnenditures (Public Service Enterprises Excluded)
City operations (General Fund) $2, 209, 289
Debt Redemption Fund 311, 200
Public Employees' Retirement Fund 73, 000
Policemen's Pension Fund 61, 500
Poor Relief Fund 20, 000
Firemen's Relief Association 25, 638
Total Proposed Expenditures 2 700, 627
Proposed 5ource of Financin�
'�axation (see summary of taxation presented below) $1, 353, 452
Shared taxes (State and Federal) 652, 734
Tax penalties 20, 000
Local revenues:
Gene ral gove rnment se rivice s $243 506
Permits and licenses 86, 500
Court fines 45, 000
Rent 7, 000
Refunds and reimbursements 18, 595
Interest 20, 000
Transfers-in:
Liquor Fund $160,000
Library Sale Fund 15, 300 175, 300
Appropriation of surplus 77. 540 673, 441
Othe r income 1, 000
Total Proposed Financin� ,�2,� 700, 627
-10-
City of Brooklvn Center
GENERAL COMMENTS
Financial Control. Cont'd
Ad valorem tax levies for the current yeax 1973 and for the two previous
years 1972 and 1971) are surnrnarized and presented below:
1973 1972 1971
Mill Rate Amount Mill Rate Amount Mill Rate Amount
Tax Levv
City operations 9, 540 877, 414 9. 313 775, 848 9. 872 821, 662
Debt Redemption
Funds 3. 218 295, 900 2. 647 220, 400 2. 501 208, 174
Public Employees'
Retirement Fund 794 73, 000 843 70, 000 860 71, 500
Policemen's Pension
Fund 669 71, 500 708 58, 923 810 67, 600
Poor Relief Funci 218 2fJ, 000 447 37, 000 163 13, 500
Firemen's Relief
Association 279 25, 638 386 32. 038 500 41, 596
Total Levv 14. 718 �1, 353, 452 14. 344 194, 209 14. 706 $1, 224, 032
1973 1972 1971
Assessed Valuation
Real estate $88, 678, 134 $79, 355, 000 $77, 900, 245
Non-exempt personal
property 2, 403, 743 1, 313, 422 1, 281, 552
Exempt personal
property m 306, 708
Total Assessed
Valuation 91. 081, $77 $80. 668, 422 $79, 488, 505
The omnibus tax law of 1971 eliminated the replacement tax based on
exempted personal property. For this reason exempted personal property is
not shown for 1973 or 1972 in the above summary of assessed valuation.
The financial condition of each fund as of Decembe r 31, 1973 and the re su lts
of each fund's operations for the year, togeth�er with a comparison of these results
-11-
City of B rooklyn C ente r
GENERAL COMMENTS
Financial Control, Cont'd
to budget estixnates and a comparison to the previous years' results, is
presented within the financial statements section of this report.
The City carries surety bonds on the positions of City Manager,
Clerk, Treasurer Assessor De ut Assessor Li uor Store Mana er and
P Y q g
Assistant Manager. In addition, the City is covexed by an Honesty Blanket
Position Bond on all other City employees.
Gene ral Ope rations
The City, in addition to the usual activities such as: genexal
government, public safety and welfare, highways, recreation and parks;
operates three off-sale liquor stores and public sewer and water utilities.
Net revenues produced in excess of working capital requirements by
1 municipal liquor store operations have been used towards financing current
expense and capital outlay programs of the City General Fund.
The net revenues of the sewer and water utilities have b�en retained
within the Public Utilities Fund and employed for sewer and water utility
purposes.
Accountin� System
The accounting for all activities 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 znaintained on an accrual basis and
in conformity with generally accepted accounting principles applicable to
governmental entities as set forth by the National Committee On Governmental
Accountin�.
�12-
City of Brooklyn Center
GENERAL COMMENTS
Accountin S stem Cont'd
Y
The accounts of the City are classified in conformance with classifi-
cations prescribed by the Public Examiner's office (Classification of Accounts
for Use by Fiscal Officers in Cities and Villages as issued pursuant to Minnesota
Statutes Section 215. 10). The accounting system used for the Public Utilities
Fund is adopted from a system specifically designed for municipally-owned
utilities by the American Water Works Association and is permissible under
the Examiner's order establishing account classifications for municipalities.
_Accounting and bookkeeping for all City activities are centralized
under the Department of Finance. The responsibility for maintaining and pre-
scribing all financial records, establishing and maintaining internal control,
and preparing financial and budgetary reports is delegated to this department.
-13-
�'INA NCIA L
1 STATEMENTS
S E C T I O N
MOEN AND PENTTILA
CERTIFIED �UBLIC AGCOUNTANTS
SUITE 20� VALLEY SOUTH BUILDING
MEMBER OF 8�¢O WAYZATA SOULEVARD 6121 546-3306
AMERICAN INSTITUTE OF ACCOUNTANTS MINNEAPOI-IS. MINNESOTA'35426
Honorable City Council
City of B rooklyn Cente r
We have examined the financial statements and supplementary
schedules of the various funds and account groups of the City of
Brooklyn Center for the year ended December 31, 1973 as listed in
the forego.ing table of contents. Our examination was made in accordance
with generally accepted auditing standards, and accordingly, included
such tests of the accounting ,�ecords and such other auditing procedures
as we considered necessary in the circumstances.
In our opin:ion, such financial statements and related supplementary
schedules present fa:irly the financial position of the various funds and
account groups of the City of Brooklyn Center at December 32, 1973, and
the results of operations of the various funds for the year then ended, in
conformity with generally accepted accounting principles applied on a
basis consistent with that of the previous year,
Respectfully s itted,
Oiva Penttila
Certified Public Accountant
MOEN PENTTILA
Field work completed June 26, 1974.
Report signed June 28, 1974.
-14-
Combined
Total
(Note 2)
Assets and Resources
Cash on hand and in depositories 98, 030
Temporary investments 6, 412, 057
Accounts receivable 98, 719
Taxes receivable 92, 684
Due from other funds 1, 134 995
Due from other governmental units 150, 458
Inventories and supplies 189, 627
Work orders/construction in progress 674, 777
Accrued revenue 227,905
Receivable appropriated funds 295, 754
Monies on deposit State of Minnesota 102, 408
Special assessment receivables 4, 810, 200
Securities held for investments 6, 884, 721
Prepaid expenses and deferred charges 87, 352
Fixed assets (net of depreciation where applicable) 23, 835, 237
Unassessed construction 528, 192
Amount available gene ral debt and inte re st 150, 197
Amount to be provided general debt and interest 5, 346, 546
Uncollected dedicated funds 89, 000
Totals $51, 208, 859
Liabilitie s
Vouchers and accounts payable 220, 932
Accrued sales tax 7, 228
Accrued expenses 80, 539
Contracts payable 169, 254
Assessments payable 280, 183
Due to other funds 1, 134 995
Temporary construction loans and advances 979 �97
Bonds payable 9, 224, 000
Customer and contractor deposits 292 939
Due funds participating in Investment Trust Fund 6, 412, 057
Interest payable in future years general debt) 1, 866, 560
Total Liabilitie s 20. 667. 784
Surplus, Reserves and Fund Balances
Surplus and revenues set aside 3, 068, 790
Contributed surplus 9, 538, 172
Investment in general fixed assets 14, 122 696
Unexpended appropriations, authorizations and balances 3, 811, 417
Total Surplus, Reserves and Fund Balances $30,541,075
Totals 51, 208, 859
(See notes to financial statements)
This statement is an integral part of report dated June 26, 1974
-15-
Citv of Brooklvn Center Exhibit 1
COMBINED BALANCE SHEET ALL FUNDS AND ACCOUNT GROLJPS (CONDENSED FORM)
Decembe r 31 1973
5pecial Capital Debt Special Municipal Public Investment General General
General Revenue Projects Service Assessments Liquor Utilities Agency Trust Fixed Assets Debt and
Fund Funds Funds Funds Funds Fund Fund Funds Fund Group Interest
(Exhibit 21 (Exhibit 5) (Exhibit 8) (Exhibit 10) (Exhibit 12) (Exhibit 16) (Exhibit 20) (Exhibit 27) (Exhibit 291 (Exhibit 32) (Exhibit 33)
30,477 665 3,334) 274 4,662 45,581 13,819 122 5,764
153, 190 443, 809 1, 368, 562 100, 579 2, 115, 855 1, 542 2, 177, 480 51, 040
5,724 13,985 1,363 77,647
59,410 1,494 1,793 18,180 11,80?
292,753 195 210 31,164 592,674 12 213,321 4,666
12, 569 87, 525 6, 997 43, 367
15, 547 165, 885 8, 195
464 674,313
73,435 9,006 145,464
295, 754
102, 408
4,670,368 139,832
85, 000 491, 820 b, 307, 901
36,362 337 50,653
80,099 9,632 $14 ,122,696
428, 192
150,197
5, 346, 546
89,000
t $570,134 $446,163 $1,646,164 $150,197 $7.969,095 $294,819 $13,485,258 $568,461 $6,459,129 $14.122,696 $5,496,743
86,033 1,356 52 2,939 78 ,960 39,149 12,443
7, 228
21, 784 52, 030 3, 484 3, 241
77,919 70 ,575 3,292 301 17,167
2go, is3
9, 022 34, 750 305, 296 473, 717 205, 367 lOb, 843
t 979,097
5, i 19, 000 755, 000 3, 350, 000
2b3, 034 29, 905
6,412,057
1. 8b6. 560
$116,839 3b.106 383.267 -0- $6,697.358 $298.331 1,167,568 12,443 $6,459.129 -0- $5.496.743
20,851 261,820 94,278 2,691,841
9,538,172
$14,122,696
432,444 $410,057 1,001,077 $150,197 1,177,459 3,5121 87,677 $556.018
$453,295 $410,057 $1,262,897 $150,197 $1,271,737 3,512) $12,317,690 $556,018 -0- $14.122 -0-
$570, 134 $446, 163 $1, 646, lb4 $150, 197 $7, 969, 095 $294, 819 $13, 485, 2 $56 461 $6, 459. 129 $14. 122, 696 $5, 496, 743
-16-
Citv of Brooklvn Cente r Exhibit 2
Gene ral Fund
BALANCE SHEET (COMPARATIVE)
December 31, 1973 and 1972
Current Prior
1 Year Year
ASSET5 1973 1972
1 Assets
Cash on hand and in depositories 30, 477 45, 953
Temporary investments 153, 190 63,'414
Accounts receivable 5, 724 7, 677
Taxes receivable 59, 410 53, 956
Due from other funds 292, 753 200, 209
Due from other governmental units 12 569 4, 733
Inventory of supplies 15, 547 12, 794
Work orders in progress to be billed 464 8, 298
1 Total $570, 134 $397. 034
LIABILITIE5, RE5ERVES AND FUND BALANCE
Liabilitie s
Vouchers payable 84, 724 64, 254
Payroll taxes and employee withholdings 21, ?84 16, 820
Due to other funds 9, 022 14, 129
Due to other governmental units 1.309
Total Liabil�ties $116. 839 95, 203
Reserves
Reserve for encumbrances 4, 772 8, 086
Reserve for inventories, petty cash and
changefunds 16,079 13,324
Total Reserves 20,851 21,410
Fund Balance
Appropriated 33, 497
Available for appropriation $432, 444 246, 924
Total Fund Balance (Exhibit 3) $432, 444 $280. 421
Total $570 $357, 034
(See notes to financial statements)
This statement is an integral part of report dated June 26, 1974
-17-
Exhibit 3
Citv of Brooklyn Genter
Gene ral F'und
5TATEMENT OF GHANGES TN FUND BALANCE (COMPARATIVE)
Years 1973 and 1972
Currer�t Y�ar Prior Year
1973 1972
Fund Balance Januarv 1 28Q, 4�1 289, 904
Add: Revenue (Exhibit 4) 2, 010, 252 1, 840, 308
Transfers in (Exhibit 4) 221. 331 182, 398
Total Additions �,2, 231 583 �2 022, 706
Deduct: Expenditures and encumbrances
(Exhibit 4) $2, 076, BQ5 $2, 026, 690
Transfers ou� (Exhibit 4) 2, 4].1
Increase in reserve for �nv�ntory
and change funds 2,755 2,588
Tota1 Deductions $2. 079, 560 �2. 032. 189
Fund Balance December 31 (Exhibit 2) 432, 444 280, 421
(See notes to financial statement�)
This statement is an integral paxt of report dated June 26, 1974
.,1$-
Exhibit 4
Citv of Brooklvn Center
General Fund
STATEMENT OF REVENUES, APPROPRIATIONS FROM FUND BALANCE,
EXPENDITURE5, ENCUMBRANCES AND TRANSFERS
1 Years 1973 and 1972
Actual
1973 1973 OverCUnder� Actual Prior
Bud�et Actual Bud�et Year
Revenues (Schedule 4-A)
Ad Valorem taxes 897, 414 895, 402 2, 012) 793, 375
Shared taxes 652, 734 669, 556 16, 822 612, 277
Charges for services 213, 206 203, 519 9, b87) 201, 026
Inter-fund charges 44, 300 51, 778 7, 478 54, 957
Licenses and permits 86, 500 96 006 9, 506 110� 455
Court fines 45, 000 53, 862 8, $62 37, 172
Other income 42, 343 40, 129 2, 214) 31, 046
Total Revenues $1, 981, 497 $2, 010, 252 28, 755
$1,840,308
Transfers from other funds 224, 543 221, 331 3, 212) 182, 398
Appropriations from fund
balance 33, 497 33, 497 81, 407
Total $2. 239. 537 $2, 265, 080 25. 543 $2. 104. 113
Expenditure s and Encumbrance s
(See Schedule 4-B)
General government 575, 890 494 968 80, 922) 496, 377
Public safety and welfare 612, 761 587, 443 25, 318) 561, 100
Highways, streets and walks 539, 170 500, 840 38, 330) 463, 321
Health 29, 459 26, 912 2, 547) 27, 507
Parks and recreation 482, 257 466, 642 15, 6151 478, 385
Total Expenditures and
Encumbrances $2, 239, 53? $2, 076, 805 $(162, 732) $2, 026, 690
Transfers to other funds 2, 911
Total Expenditures,
Encumbrances and
Transfers 239�. 537 $2 076, 805 162, 732) $2, 029. 601
ExcPSS (Deficiencvl of revenLes.
transfers in and a�,�onriations
from fund balance over exnendi-
�ures. encumbrances and
�ransfers out 188, 275 $188, 275 74, 512
(See notes to financial statements)
This statement is an integral part of report dated June 26, 1974
-19-
Gitv of BrooklVn �enter Schedule 4-A
General Fund
STATEMEN T OF REVENUE BUDGET AND ACTUAL
OBJECTIVE CI.,ASSIFICATION l i
Year 1973
Actual
Final Ove r( Unde r)
Bud�et Actual Bud�et
Ad Valorem Taxes
Real estate taxes $877, 414 $877, 488 74
Penalties and interest on tax bills 20, 000 17. 914 2, 0861
Total Ad Valorem Taxes $897, 414 $895, 402 2, 012)
Shared Taxes
Sales $497,23� $499,263 2,029
Cigarette 68, 500 71, 511 3, O11
Liquor 58,000 59,747 1,747
Mortgage registry 10, 000 15 69b 5, 696
Bank excise 2, 000 565 1, 435)
Police pension aid 17, 000 22, 768 5, 768
Mobile homes 6 6
Total Shared Taxes $652, 734 $669. 556 16, 822
Char�es for Services
Recreation $204, 406 $�96, 855 7, 551)
Sale of maps 2, 300 1, 787 513)
Zoning and plattin� fees 2, 00� 1, 113 887)
Burglar alarm service 1, 700 1, 260 440)
Fire alarm service 1, 300 1, 008 292)
Weed cutting 1, 500 1, �476 24)
Filing fees 20 20
Total Char�es for Services $213. 206 $203, 519 9, 687)
Inter-Fund Char�es
Engineering, clerical and labor 32, 000 33, 474 1, 474
Public utilities rent and administrationl 12. 300 18, 304 6, 004
Total Inter-Fund Char�es 44. 300 $�1. 778 7, 478 1
Licenses and Permits
Building permits 18, 510
Malt license 31, 055
Electrical permits 10 692
Plumbing permits 9, 732 I
Heating permits 5, 815
Sewer and water permits 4, 530
Food license 2, 404
Dog permits 3, 432
-�o�
i
Schedu�e 4-A
�itv of Brooklvn Center Cont'd
Gene ral Fund
STATEMENT OF REVENUE B UDGET AND ACTUAL
OBJECTIVE CLASSIFICATION
Year 1973
Actual
Final Ove r( Unde r)
Bud�et Actual 8udeet
Licenses and Permits, Cont'd
Bicycle license 2, 409
Miscellaneous business licenses 1, 057
Vehicle license 1, 125
Heating license 850
Cigarette license 1, 014
Swimming pool license 1, 095
Garbage license 772
I Service station 766
Bowling alley 195
Taxicab license 400
All other licenses and permits 153
Total Licenses and Permits 86, 500 96. 006 9. 506
Court Fines
Costs and fe.es 45, 000 53. 862 8, 862
Othe r Income
Rental of property 7, 000 5, 518 1� 482)
Grants 8, 571 14, 868 6, 297
Civil defense reimbursements 4, 295 6, 382 2, 087
1 Interest on temporary investments 20, 000 1, 482 18, 518)
Miscellaneous 1, 000 10, 044 8, 044
Gifts private sources 1, 177 1, 513 336
Police towing charges 300 322 22
Total Other Income 42. 343 40, 129 3. 214)
Transfers from Other Funds
Municipal Liquor Fund $204, 043 $204, 043
Federal Revenue 5haring Fund 20. 500 17, 288 3. 212)
Total Transfers from Other Funds $224. 543 $221. 331 3, 212)
f Appropriations
Appropriation from Fund balance 33, 497 33, 497
Total Revenues,Transfers and
Appropriations $2, 239. 537 $2, 265, 084 24, 543
(See notes to financial statements)
This statement is an integral part of report dated June 26, 1974
-21-
Actual
19 �3 Qve r Actual
Final 1973 (Under) Priar
Bud�et Actual Bud�et Year
Gene ral Gove rnment
Mayor and Council 69, 976 27, 764 42, 212) 22, 594
Elections and voter registration 6, 210 4, 163 2, 047) 7, 024
Finance Administrative office 172, 743 164, 498 8, 245) 172, 589
Assessor�s office 50, 508 48, 085 2, 423) 43, 340
Accounting and
internal audit 68, 580 59, 319 9, 261) 47, O10
Independent audit 8, 500 8, 578 78 8, 544
Legal 29, 270 24, 346 4, 924) 28, 195
Charter commission 1, 500 262 1, 238) 135
General government building 154, 649 143 999 10, 650) 166, 946
Tax revenue lost by court order 13, 954 13. 954
Total General Government $575. 890 $494. 968 80. 9221 $496. 37?
Public Safetv and Welfare
Police protection $494, 582 $480, 356 14, 226) $460, 984
Fire protection 41, 804 39, 614 2, 190) 38, 147
Protective inspection 54 989 52, 755 2, 234) 48, 063
Civil defense 9, 386 5, 884 3, 502) 4, 846
Animal control 8, 500 7, 796 704) 7, 718
Weed eradication 3, 500 1, 038 2, 462) 1, 342
Total Public Safetv and
W; lfare $612, 761 $587, 443 25, 318) $561. 100
Hi�hways. Streets and Walks
Engineering department $132, 961 $122, 631 10, 330) $110, 611
Street department 294, 734 271, 431 23, 303) 245, 283
Maintenance shop 60, 975 57, 846 3, 129) 58, 915
Street lighting 50, 500 48, 932 1, 568) 48, 512
Total Hi�hwavs, Streets
and Walks $539, 170 $500, 840 38, 330) $463, 321
Health
Health regulation and inspec-
tion 17, 500 1�4, 953 2, 547) 15, 548
Nursing se rvice 1 1, 959 1 1, 959 11 959 i
Total Health 29. 459 26, 912 2, 547) 27. 507
(See notes to financial statements)
This statement is an integral part of report dated June 26, 1974.
-22-
Citv of Brooklyn Center 5chedule 4-B
General Fund
STATEMENT OF EXPENDITURES AND ENCUMBRANCES BUDGET AND ACTUAL
I CLA5SIFZED AS TO ACTIVITY CHAR.ACTER AND OBJECT
Year 1973
I 1973 Actual Classified by Character and
Object
Personal Contracted Capital
Service Service Commodities Other Outlays
17, 517 10, 247
2, 610 229 252 1, 072
86,752 33,162 11,678 30,401 2,505
44,762 656 41 2,506 120
42,32b 16,809 184
8, 578
23,768 552 26
262
b9, 355 55, 253 9, 444 1, 305 8, 642
13. 954
$295,930 89,852 21,163 75,500 12,523
$427,745 11,384 9,408 8,491 23,328
27, 491 2, 200 2, 417 1, 586 5, 920
50,878 526 1,351
2, 809 1, 311 354 1, 410
7, 796
1, 038
$517,757 14,895 12,179 12,013 30,599
$116,879 2,056 1,093 2,603
198, 113 39, 344 2, 232 31, 742
2,009 50,429 5,175 233
48, 932
$314,992 50,941 91,829 8,500 34,578
14, 953
11, 959
26,912
-23-
Actual
19 73 Ove r Actual I
Fixial 1973 (Underj Px•ior I
Bud�et Actual Bud�et Year
Parks and Recreation
Supervision o£ recreation $183, 564 $186, 464 2, 900 $189, 311
Adult programs 23, 825 28, 875 5, 050 26, 344
Teen programs 22, 042 14, 746 7, 296) 17, 559
Children's prograins 36, 546 37, 366 820 33, 189
Gene ral programs 34, 785 32, 901 1, 884) 42, 814
Community center 115, 245 110, 928 4, 317) 98, 081
Park maintenance and improve-
ment program 66, 250 55, 362 10, 888) 71, 087
Total Parks and Recrea-
tion �482, 257 $466, 642 $(I5, 615) $478. 385
Transfers to Other Funds 2, 911
Total Expenditures, Encumbrances
and Transfers Out $2, 239, 537 $2, 076, 805 $(162, 732) $2, 029, 601
(See notes to financial statements)
This statement is an integral part of report dated June 26, 1974
-24- r
Citv of Brooklvn Center Schedule �-B
General Fund Cont'd
5TATEMENT OF EXPENDZTURES AND ENCUMBRAI�TCES BUDGET AND ACTUAL
CLASSIFIED AS TO ACTIVITY, CHAR�►,CTER AND OBJECT
Year 1973
1973 Actua�, Classified by Character and
Obiect
Personal Contracted Capital
Service Service Commodities Other Outlays
$171,149 5,Q90 1,883 2,986 5,356
16, 715 12, 160
10,327 4,419
28, 398 8, 96$
28,227 4,674
87, 624 19, 328 3, 976
14, 579 15, 416 488 24, 879
$3�2, 440 19, 669 66, 848 7, 450 30, 235
$1,498.031 $175,357 $192,019 $103,463 $I07,935
_�5_
Park
Popr Goncessions
Fund Fund
A55ETS
Cash on hand and in de ositories ?3 499
P
Temporary investments 13 906 $11
Due from other funds 195
Taxes receivable 1, 494
Contract receivable sa�e of li.brary
Accrued interest receivalale library
contract
Totals 15 668 1, 310
LIABTLITIES AND FUND BALANCE
Vouchers payable 1,356
Due to other funds (Note 9)
Fund balance (Exhibit 6) 14, 312 1, 310
Totals $15, 668 1, 310
(5ee notes to financial statements)
This statement is an inte ral art of re ort dated June 26, 1974
g P P
-26-
Exhibit 5
Citv of Brooklvn Center
St�ecial Revenue Funds
COMBINED BALANCE SHEET (COMPARATIVE)
December 31, 1973 and 1972
Group Library Federal Combined Total
Training Sales Revenue Sharing Current Year Previous Year
Fund Fund Fund �1973 1972
63 30 665 19
188,860 $240,232 443,809 163,574
195
1,494 1,475
72, 753
3, 638
63 $188.890 $240,232 $446.163 $241,459
1,356 1,120
34, 750 34, 750
63 154,140 $240.232 410,057 240,339
63 $188,890 $240,232 $446.163 $241,459
-27-
t
Park
Poor Concessions
Fund Fund
Fund Balance Januarv 1 9, 530 78)
Add: Revenue (Exhibit 7) 20, 460 2, 241
Deduct: Escpenditures and
encumbranees (Exhibit 7) 15, 678) 853)
Fund Balance December 31 (Exhibit 5) 14, 312 1, 310
(See notes to financial statements)
This statement is an integral part af report dated June 26, 1974
-2$-
Exhibit 6
Citv of Brooklvn Center
Special Revenue Funds
COMBINED ANALYSI5 OF CHANGES IN FUND BALANCE (COMPARATIVE�
Years 1973 and 1972
Group Library Federal Cornbined Total
Training Sales Revenue Sharing Current Year Previous Year
Fund Fund Fund 1973 1972
63 $159,'� 71,396 $240,339 $157,368
10,012 198,871 231,584 122,109
1 15, 300) 30, 035) 61. 866� 39. 138)
63 $154, 140,� 240 232 S $410,_057 $240, 339
I
1
1
1
1
-29-
Park
Poor Concessions
Fund Fund
Revenue
General property tax ad valorem
levy 20,051
Interest on temporary investments 409 58
Interest on contract receivable
Concession receipts 2, 183
Federal revenue sharing grants
Total Revenue (Exhibit 6) 20, 460 2, 241
Expenditures
Subsistence, care and support
payments 7, 129
Administrative charges 8, 517
Purchases for resale 605
Purchases of equipment 248
Taxes written off 32
Transfers to other funds
Total Expenditures (Exhibit 6) 15, 678 853
Excess (Deficiencv) of Revenue Over
Expenditures 4, 782 1, 388
(See notes to financial statements)
This statement is an integral part of report dated June 26, 1974
-30-
Exhibit 7
City of Brooklyn Center
5pecial Revenue Funds
COMBINED STATEMENT OF REVENU�S AND EXPENDITUR.E5 (COMPARATIVE)
Years 1973 and 1972
Library Federal Combined Total
Sales Revenue Sha,ring Current Year Previous Year
Fund Fund 1973 1972
20,051 37,212
7, 532 12, 613 20, 612 5, 908
2,480 2,480 3,638
2,183 2,955
186,258 186.258 71,396
10.012 $198,871 $231,584 $122,109
7, 129 10, 278
8, 5�.7 7, 604
605 4,870
248 684
32 2
15.300 30.035 45.335 15.700
15.300 30,035 61,866 39.138
5.288) $168,836 $169,718 82.971
1
-31-
Certificates
Library of Indebtedness
Bonds #10
ASSETS
Cash in bank 46
Taxes receivable
Due f rom othe r fund s
Temporary ir�vestments 2, 389 918
Due from other governmental agencies
Monies on deposit with the State of Minnesota
Uncollected dedicated funds:
Special assessment5 surpluses to be
transferred
Totals 2, 435 918
LIABILITIES AND FUND BALAN�E
Vouchers payable
Due to other funds
Contracts payable
Unexpended appropriationg (Exhibi� 9)
Fund bala�ce reStricted to State approved
projects (Exhibit 9)
Unappropriated fund balance (Exhxbit 9) 2.435 918
Totals 2, 435 918
(See notes �o financial statements)
This stateme�t is an integral part of report dated June 26, 1974
-32-
Exhibit 8
Citv of Brooklm Center
Capital Proiects Funds
COMBINED BALANCE SHEET (COMPARATIVE)
December 31. 1973 and 1972
Certificates Open-Space Capital Municipal Combined Total
of Indebtedness Acquisition Projects State Aid for Current Year Previous Year
#11 Fund Fund Construction 1973 1972
3, 412) 29 3 3, 334) 2, 081)
1, 793 1, 793 1, 931
210 210 20,029
486 9 107, 057 1, 257, 703 1, 368, 562 1, 686, 504
87, 525 87, 525 87, 525
102,408 102,408 53,925
89.000 89,000 89.000
486 84, 122 $197, 879 $1, 360, 324 �1,,, 646, 164 �1,, 936. 833
40 12 52 3,371
50, 977 1, 197 253, 122 305, 296 314, 579
77, 919 77, 919 77, 512
30, 642 94, 882 243) 125, 281 308, 384
875 796 875 796 1 011, 185
486 2,503 101,760 153,718 261,820 221,802
486 84,122 $197.879 $1,360,324 ,�1 646,164 ,�1,936,833
(Exhibit 1)
-33-
Certificates
of
Library Indebtedness
Bonds #10
Reserve for Authorized Expenditures
General debt:
General obligation bonds $250, 000
Certificates of indebtedness 4�, 000
Ad valorem taxes
Sale of property
Grants from other governmental units:
Hennepin County
U. S. Government
State of Minnesota for parks
5tate of Minnesota for highways
Transfers-In from other funds:
General Fund t
Special Assessment Funds
Federal Revenue 5haring Fund
Dedicated funds appropriated
Interest earned on investments 1. 675 344
Total Amount Appropriated $2 51, 675 44, 344
Less: Expenditures for authorized purposes:
Total expenditures through December 31 prior year $249, 240 43, 426
Current year expenditures:
Open space land acquisition
Debt service
5treet construction
Civic Center
Municipal service garage and fire station (East)
Parks and playgrounds
Total Authorized Expenditures throu�h December 31 $249. 240 43, 426
Reserve for Authorized Expenditures December 31:
Unexpended appropriations (Exhibit 8)
F'und balance restricted to 5tate-approved projects
(Exhibit 8)
Unappropriated Fund Balance, December 31 2, 435 918
See ote s to fi a c' al s a e
n n n i t tem nts)
This statement is an integral part of report dated June 26, 1974
-34-
City of Brooklvn Center Exhibit 9
Capital Proiects Funds
COMBINED STATEMENT OF APPROPRIATIONS, E�PENDITURES
AND FUND BALANCES fCOMPARATIVE)
Years 1973 and 1972
Municipal
Ce rtificate s Open State Aid
of Space Capital for Combined Totals
Indebtedness Acquisition Projects Highway Current Year �revious Year
#11 Fund Fund Construction 1973 1972
$2, 2�0, 000 $1, 030, 000 $3, 530, 000 $3, 530, 000
9, 500 53, 500 53, 500
265, 243 265, 243 265, 243
37, 543 37, 543 37, 543
22,850 22,850 22,850
151, 575 151, 575 151, 575
1 74, 643 74, 643 74, 643
1, 396, 340 1, 396, 340 1, 186, 114
92,997 3,000 95,997 95,997
87,000 87,000 87,000
12,747 12,747
279,000 279,000 279,000
124 2,503 235,839 346,557 587,042 477,734
9. 624 $344, 568 $3, 170, 372 $2, 772, 897 593, 480 $6, 261, 199
1 9,138 $309,507 $2,945,858 $1,162,659 $4,719,828 $4,140,102
1,916 1,916 1Q2,508
38,404 38,404 39,888
542,563 542,563 399,896
10, 955 10, 955 7, 886
5, 007 5, 007 263
11,910 11,910 29,285
9.138 $311,423 $2.973,730 $1,743,626 �5 330,583 �4 719.828
30,642 94,882 243) 125,281 308,384
875, 796 $75. ?96 $1, 011, 185
486 2.503 101,760 153,718 261,820 221,802
-35-
Pa rk Lib ra ry
ASSETS Bonds Bonds
Cash on hand and in depositories 99 74
Temporary investments 34, 557 9, 666
Due from other funds 29, 983 307
Taxes receivable 2, 128 25)
Totals 66, 767 10, 022 j
LIABILITIES AND SURPLUS
Fund balance (Exhibit I1) 66, 767 10, 022
Unappropriated surplus (Exhibit 11)
Totals 66, 767 10, 022
(See notes to financial statements)
This statement is an integral part of report dated June 26, 1974
-36-
i
Exhib it 10
C itv of B rooklvn Cente r
D.ebt Service Funds
COMBINED BALANCE SHEET (COMPARATIVE)
Decembe r 31, 1973 and 1972
Certificates State Aid Improvements Combined Total
of Street Building Current Year Previous Year
Indebtedness Bonds Bonds 1973 1972
74 27 274 318
9,930 6,393 40,033 100,579 80,283
612 262 31,164 6,239
462 15. 615 18, 180 12, 786
11.078 6,393 55,937 $150,19? 99,626
6,393 55,937 $139,119 89,093
11,078 11,078 10,533
11,078 6,393 55,937 $150,197 99.626
1
1
1
1
1
-37-
Pa rk Lib ra ry
Bor�„�i� Bonds
Fund Balances Januarv 1 33, 706 8, 818
Add: Revenue and transfers
General property tax levies 27, 908
State aid
Sale of properties 29, 362
Interest on temporary investments 2, 368 4$5
Transfer from other funds 15, 300
Total Balance and Additions 93, 344 24, 6Q3
Deduct: Expenditures:
Principal paid on bonds 20, 000 10, Op0
Interest on bonds 6, 393 4, 530
Fiscal agent fees 97 24
Write off tax levy balances 87 27
Total Expenditures 26, 577 14, 581
Fund Balance December 31 (Exhibit 10) 66, 767 10, 022
Unapp�opriated Sur�lus Decemb�r 31
(Exhibit 10)
(See notes to financial statements)
This statEment is an integral part of repart dated June 26, 1974
-38-
Citv of Brooklvn Center Exhibit 11
Debt Service Funds
COMBINED STATEMENT OF REVENUE, EXP�NDITURES
AND FUND BALANCES (COMPARATIVEI
Years 1973 and 1972
Certificates 5tate Aid Improvement Combined Total
t of Street Building Current Year Previous Year
Indebtedness Bonds Bonds 1973 1972
10,533 6,370 40,199 99,626 84,3g6
268, 082 295, 99� 220, 497
49 540 49 540 49 540
29, 362
613 154 3,633 7,253 4,373
38,404 53,704 55,492
11,146 94,468 $311,914 $535,475 $414,298
25, 000 $110, p00 $1(�5, 000 90, 000
62,903 145,275 219,101 223,927
172 501 794 712
68 201 383 33
68 88,075 $255,977 $3$5,278 $314,672
6,393 55,937 $139.119 89,093
11, 078 1, 078 10, 533
r 1. Fund balance available for caunc.i]. appropriation for city use
because debt service activity complete and ther� are nAt
out standing bond s
-39_
1
B�ond Fund 1955 A 1956 AG
ASSETS Nq. 1 F'und Fund
Cash on hand and in depositories 99 66 31
Temporary inve��rxaents �2Q 93, �88 130, 655
Accounts receivable
Due f rom othe r fund s 64 72 5 2�
Ass�sSments receivable:
Future installments (�rincigal) 344 17, �83 42, 340
Del�nqu�nt assessment� �pri�ncipal intcr�st) 110 5, 128 5, 87�
City General Fund (p�inciQal ��o int�re�t charge) 962 2, 770
Interest applicabl,e to curr�nt y��.r pn
installxn�z��s due in foJ.lowing y�ar
Installments app].ica�bl� to tax for�eit prpperty 91 108 602
Authorization to as$ess far cons�ruction ir� prpgre�s t
Deferred int�re�t �harges
Due from other governme��aJ, uni��
Totals 12, �28 $117, 107 $1$2, 796
LIABILIT'T�ES
Bank overdraft
Due to othe r gove rnmer��al units 2 53
Accounts payab�.e
Contracts payable
Accrued exp�nses and costs
Due to other funds 399 22
Construc�ion loans pay�bl�
1v1SA advances for con�truction
Bonds payable future year5 (Exh�,bit 15) 34, 000 60, 000
Tota1 Liabi,lities $�4, 417 60, 275
Unap ropria�ed sur lus (defici�) fpr deb�
P P
reti�ernent (Exhibi,t 13) 12, $2$ 82, �90 122, 521
Unexpended appropriations for c�nstruetipn
(Exhibit �4)
Tata15 12.$28 $117,107 $182,796
(SF� �otes to fina�,ci�l 5t�.tez�ents)
This statem�nt is a� i�tegra], part of r�port dated June 26, 197�,
-�0� I
Citv of Brooklvn Center Exhibit 12
Special Assessment Funds
COMBINED BALANCE SHEET (COMPARATIVE)
December 31, �973 and 1972
1956 B Combined Total
1957 AB 1958A 1958B 1959 AB 1960 AB 1961 AB 1963 1965 1966 1968 1970 1971 1972 Current Year Previous Year
Fund Fund Fund Fund Fund Fund F'und Fund Fund Fund Fund Fund Fund 1973 1972
104 34 31 146 177 237 81 292 56 13 563 2,732 4,662 4,662
23,397 124,427 130,518 114,617 342,345 396,392 225,603 59,072 88,218 77,087 113,477 $184,539 2,115,855 1,840,50Q
13,985 13,985 27,149
249 398 674 437 20,132 180 3,233 34,057 532,655 592,674 269,072
25,810 67,018 24,767 85,638 287,933 175,174 171,748 101,048 258,064 375,375 1,595,980 633,817 185,850 4,048,289 4,436,199
574 5,419 318 806 23,881 6,042 3,450 1,150 8,676 13,391 184,329 53,028 312,177 270,543
124 21 469 15, 145 6, 036 11, 517 12, 579 12, 158 167, 412 47, 493 3, 497 280, 183 293, 537
1, 204 17, 425 18, 629 8, 477
126 765 1,731 674 169 3,275 2,467 1,082 11,090 25,146
528,192 528,192 443,119
30, 392 5, 970 36, 362 33, 280
497 1.529 3.983 341 647 6 ,997
50,135 $197,933 $157,365 $202,378 $656,901 $600,922 $407,259 $174,163 $390,192 $478,204 $2,095,386 $961,190 $1,284,336 $7,969,095 ,$7.651,684
I I,
2,469 2,469 I
199 470 I
43
70,575 70,575 71,332
52,030 52,Q30 98,043
26 154 1,357 60 380 1,408 181,008 215,611 73,292 473,717 237,494
731,700 731,700 1,132,000
247, 397 247, 397
125,000 90,000 $185,000 525,000 440,000 $275,000 $140,000 360,000 450,000 1,740,000 695,000 5,119,000 4,991,000
225 $125,154 90,000 $185,000 $526,357 $440,060 $275,000 $140,000 $360,380 $451,408 $1,921,008 $913,080 $1,174,994 $6,697,358 $6,529,912
49,910 72,779 67,365 17,378 130,544 160,862 132,259 34,163 29,812 26,796 174,378 48,110 15,064 1,177,459 1,063,515
94, 278 94, 278 58, 257
50,135 $197,933 $157,365 $202,378 $656,901 $600,922 $407,259 $174,163 $390,192 $478,204 $2,095,386 $961,190 $1,284 �,969.095 $7.651,684
(Exhibit 1) I
-41-
Bond Fund 1956 A 1956 AG
No, 1 Fund Fund
Unappropxiated Surplus January 1 12, 4"L1 76, 644 $113, 978
Adiustments to Unannropriated Suxnlus:
Additions:
Assessment xeceivable increases and
redi st ributioz� s
Deductions:
Losses or� sale of tax forfei� proper�ies
in prior years 13 25 303
Assessments of prior years written
off in lieu of ci�y� share 369 13
Total Deductions 3$2 25 316
Adlusted UnappropriatEd Surplug January 1 12, 039 76 619 $113 662
Add: Revenue
Interest assessments 69 1, 330 2 995
Interest investments 720 6.444 9. 198
Revenue 789 7, 774 12, 193
Less; Expenditures:
Interest 1, 658 3, 280
Agent charges 45 54
Txansfers to Capital Frojects Fund
Expendituxes -0- 1, 703 3, 334
Unappropriated Surx�lus, December 31 12, 828 $$2. 690 $122, 521
t
(To Exhibit 12)
See note s to �inancial statements)
This stat�ment is an integ�'a1 part of report dated Tune 26, 1974.
-4L-
1
Citv of B rooklvn Cente r Exhibit 13
5pecial Assessments Funds
COMBINED STATEMENT OF REVENUE.EXPENDITURES AND
UNAPPROPRIATED SURPLUS FOR DEBT RETIREMENT (COMPARATIVE)
Years 1973 and 1972
1956B Combined Total
1957 AB 1958A 1958B 1959 AB 1960 AB 1961AB 1963 1965 1966 19b9 1970 1971 1972 Current Year Previous Year
Fund Fund F'und Fund Fund Fund Fund Fund Fund Fund Fund Fund Fund 1973 1972
47,307 65,300 60.597 �S 13,298 $114,815 $�53,004 $116,442 �0,787 25,946 24,985 $167,956 40,035 $1,063,515 $1,081,987
223 310 34 3, 477 4, 044
246 56 3, 466 7, 790 213
12,112
147 9 8 478 1,009 3,776 127 145 24 6,105
393 9 8 534 4,475 11 ,566 127 358 24 18,217
46,914 65,291 60.589 12,764 $110,563 $141,748 $116,315 30,463 25,922 24,985 $167,956 43,512 $1,049,342 $1,081,987
2, O10 4, 980 1 919 5, 872 20, 628 12, 314 11, 908 5, 748 16, 349 29,275 $143, 068 53, 724 17, 424 329, 613 334, 725
986 8,591 8,832 8,404 23,639 24,993 14,560 3,830 6,346 6.176 8,557 371 131,647 120,833
2,996 13,571 10.751 14,276 44,267 37,307 26,468 9.578 22,695 35,451 $151,625 54,095 17,424 461,260 455,558
6, 000 3, 940 9, 600 24, 075 18, 085 10, 480 5, 845 18, 725 33, 475 $144, 813 49, 460 2, 360 331 79b Z81, 940
83 35 62 211 108 44 33 80 165 390 37 1,347 2,090
190,000
-0- 6,083 3,975 9 ,662 24,286 18,193 10,524 5,878 18,805 33,640 $145,203 49,497 2.360 333,143 474,030
49,910 72.779 67,365 17,378 $130,544 $160,862 $132,259 34,163 29,812 26,796 $174,378 48,110 15,064 1,177,459 $1,063,515
t
1
-43-
THOSE PROJECTS CLQ5ED DURING 1973 I
Anpropriations (Note 3)
Proj ect O ri ginal Added) Final
Number DescriAtion Appropriations C�.ncelled A�brobriation
71-15 Street 13, 500. 00 13, 500. 00
71-23 Street 25, 200. 00 25, 200. 00
72-16 Sanitary sewer 27, 000. 00 27, 000. 00
72-17 Storm sewer 90, 000. 00 90, 000. 00
72-18 Water main 33, 330. 00 33, 330. 00
72-27 Water main 7, 300. 00 7, 300. 00
72-28 Sanitary sewer 14, 100, 00 14, 100, 00
72-29 Street 1, 500, 00 1, 500. 00
72-32 Water main 10, 900. 00 10, 900. 00
72-33 Street 3, 350, 00 3, 350. 00
Total Proiects Closed
in 1973 $226, 180. 00 -0- $226. 180. 00
(5ee notes to financial statements)
This statement is an integral part of report dated June 26, 1974.
Citv of B rooklvn C ente r Exhibit I 4
Special Assessment Funds
CONSTRUCTION EXPENDITURES COMPARED TO APPROPRIATIONS AND ASSESSMENT OF COSTS
Year I973
ExAenditures Costs Assessed Assessed Compared to Cost
Balance During Total State Aid Pr.operty (Under) Over Applied to Water
1/1 /1973 1973 Expenditures Share Share Total Assessed Utility
17, 283, 62 15. 49 17 299 11 17, 298. 34 17, 298. 34 77)
14, 852. 22 879. 51 15, 731. 73 15, 731. 72 15, 731, 72 O1)
24, 072. 53 2, 126. 46) 21, 946. 07 21, 946, 07 21, 946. 07
77, 533. 67 5, 636. 94 83, 170. 61 5, 204. 42 77, 966. 12 83, 170. 54 07)
30, 154. 14 3, 050. 55 33, 204. 69 33, 204. 69 33, 204, 69
5, 895. 53 414. 65 6, 310. 18 2, 360. 00 2, 360. 00 3, 950. 18
12 421 88 1, 429. 96) 10, 991. 92 10, 991. 94 10, 991. 94 02
3, 162. 68 1 698 10) 1, 464. 49 1, 464. 43 1, 464. 43 06)
9, 824. 29 1, 082. 70 10, 906. 99 4, 130. 00 4, 130. 00 6, 776, 99
4, 5I2, 89 1, 014. 07) 3, 498. 82 3, 498. 78 3, 498. 78 04)
$199. 713. 45 4. 811. 16 $204. 524. 61 5. 204. 42 $188. 592. 09 $I93, 796. 51 93) 10, 727. 17
-45-
Citv of Brooklvn Center Exhibit 14
Stiecial Aasessment Funds �ont'd
CON5TRUCTION EXPENDITURES COMPARED TO APPROPRIATIONS AND
AS5ESSMENT OF COSTS
Year 1973
PRQTECTS IN PROCESS AT DECEMBER 31, 1973
Appropriated Expenditures Unexpended
Project Through Through (Overexpended)
Number Description 12-31-?3 12-31-73 Approvriations
71-3 Curb and gutter 6, 300. 00 6, 300. 00 -0-
71-24 Curb and gutter 9, 300; 00 9, 300. 00
72-19 Water main 88, 000. 00 41, 932. 76 46, 067. 24
72-20 Bridge 13, 000. 00 14, 292. 13 1, 292. 13)
72-25 Sanitary sewer 2, 350, 00 1, 863. 00 487. 00
72-26 Street 15, 941. 66 15, 941. 66 -0-
72-34 Street 32, 000. 00 32, 363. 52 363, 52)
73-8 Street 12,000.00 10,680.16 1,319.84
73-9 Water main 25, 000, 00 20� 133, 54 4, 866. 46
73-10 Street 12, 400. 00 11, 024. 71 1, 375. 29
73-11 Grading and base 52, 000, 00 40, 848. 64 11, 151. 36
73-12 Curb,gutter and sidewalk 23, 000. 00 18, 919. 12 4, 080. 88
73-13 Grading and base 125, 000. 00 128, ?83. 87 3, 783. 8?)
73-14 Curb and gutter 45, 000. 00 38, 958, 51 6, 041. 49
73-16 Service extension
public utility 4, 000. 00 4, 677. 57 677. 57)
73-31 Water main 21, 500. 00 1, 683, 66 19, 816, 34
73-32 Street 6, 100. 00 96. 61 6, 003. 39
73-33 Sanitary sewer 11, Q00. 00 6, 248. 86 4, 751. 14
73-36 Water main 15, 800. 00 15, 800, 00
73-37 Street 8, 500, 00 8, 500. 00
Unallocated costs 39, 165. 80 39, 165. 80)
ppronriations �528.191.66
Total A
Total Extienditures $433. 914. 12
Excess Appropriations Over Expenditures (To Exhibit 12) 94.277. 54
(See notes to financial statements)
This statement is an integral part of report dated June 26, 1974.
-46-
Bond
Redemption
Year af Total Monies to
Fund Describtion of Issue Issue Issue Pavin� A�ent
1955 A 1955 A serial issue 1955 497, 000 463, 000
1956 AC 1956 C serial issue 1956 550, 000 490, 000
1958 A 1958 A serialissue 1958 530,000 405,000
1958 B 1958 B serialissue 1958 390,000 300,000
1959 AB 1959 AB serial issue 1960 630, 000 445, 000
1960 AB 1960 A serial issue 1960 768, 000 573, 000
1960 B serial issue 1961 885, 000 555, 000
1961 AB 1961 A serial issue 19b2 595, 000 345, 000
1961 B serialissue 1963 430,000 240,000
1963 1963 A serial•issue 1964 636,000 361,000
1965 1965 A improvement bonds 1966 345, 000 205, p00
1966 1966 improvement bonds 1968 750, 000 390, 000
1969 1969 improvement bonds 19b9 755, 000 305, 000
1970 1970 improvement bonds 1970 2, 290, 000 550, 000
1971 1971 improvement bonds 1971 745, 000 50, 000
Total $10, 796, 000 �5, 677, 000
(See note s �o financial statements)
This statement is an integral part of report dated June 26, 1974,
-47-
E xhibit 15
Citv of Brooklvn Center
5pecial Assessment Funds
5TATEMENT OF LONG-TERM DEBT (PRINCIPAL AMOUNT OUTSTANDING)
December 31, 1973
Balance Last
Unpaid Installment
12-31-72 Due on Couvon Rates on Outstandin� Bonds
34,000 �-1-76 3.25%
60,000 1-1-77 4.10
125, 000 1-1-79 4. 00
90,000 1-1-79 3.60
185, 000 1-1-81 4. 50
195, 000 1-1-8I 5M 3. 00%; 190M 4. 20%
330, 000 1-1-81 285M 4. 20%; 45M 4. 10%
250, 000 1-1-82 100M 3. 75%; 120M 3. 70%
190, 000 1-1-84 70M 3. 70%; 120M 3, 60%
1 275, 000 1-1-85 45M 3. 60%; 80M 3. 50%; 90M 3. 40%; 6M 3. 20%
140, 000 1-1-86 95M 3. 80%; 45M 3. 70%
360, 000 1-1-88 95M 4. 70%; 165M 4. 50°�/0; 100M 4. ZO%
450, 000 1-1-89 6. 50%
1, 740, 000 1-1-90 40M 6. 60°fo; 125 M@ 6. 50%; 125 M@ 6. 40%; 125M 6. 30°jo;
375M 6.25%; 620M 6.00%; 330M 5.50%
695 000 1-1-85 55M 4. 15%; 55M 4. 30%; 50M 4.40%; 50M 4. 50%;
50M 4. 55%; OM 4. 60%; 50M 4. 65%; 50M 4, 70°�0;
50M 4. 75�f 50M 4.80°jo; 185M 4.875%
�5, 119� 000
E xhibit 12
-48-
ASSETS
Current Year Prior Year
1973 1972
Current Assets
Cash on hand and in depositories 45, 581 41, 851
Miscellaneous receivables 1, 363 2 929
Terraporary investments 1, 542 1, 446
Due from other funds 12 2, 071
Merchandise inventory (note 4) 165, $85 170, 068
Prepaid expenses 337 3, 420
Total Current Assets $214, 720 $221, 785
Propexties
Fixtu re s and Epuipment
Humboldt Square Store 43, 9�9 11, 670
Brooklyn Boulevard Store 20, 145 20, 047
Northbrook Store 25. 369 25, 270
89, 453 56, 987
Less: Accumulated provision for
depreciation 36, 418 33, 246
Net Fixtures and Equi�pment 53, 035 23, 741
Leasehold and Land Imnrovements
Humboldt Square Store 19, 219
Brooklyn Boulevard Store 4, 229 4, 229
Northbrook Store 10, 402 10, 402
33, 850 14, 631
Less: Accumulated provision for
amortization 6, 786 3, 963
Net Leasehold and Land Impxovements 27, 064 10, 668
Total Book Value of Properties 80, 099 34, 409
Total Assets $294, 819 $256, 194
Formerly Lyndale Avenue Store
(See notes to financial statements)
This statement is an integral part of report dated June 26, 1974,
-49-
Exhibit 16
Citv of Brooklvn Center
Municipal Liauor Fund
BALANCE 5HEET (COMPAR.ATIVE)
December 31, 1973 and 1972
LIABILITIE5 AND SURPLUS
Current Year Prior Year
1973 1972
Current Liabilities
�ccounts payable 78 960 59, 142
Accrued sales tax payable 7, 228 6, 499
Accrued salaries and wages payable 3, 484 2, 597
Accrued insurance payable 613
Due to other funds 205, 367 110, 1.28
Contracts payable 3.292
Total Current Liabilities $298, 331 $178, 979
Retained Earnin�s
Retained earnings (deficitj (Exhibit 17) 3. 512) 77, 215
Total Liabilities and Retained Earninf�s $294, 819 $256, 194
-50-
Exhibi:t 17
Citv of Brooklvn Genter
Municinal Liquor Fund
ANALYSIS OF CHANGES IN SURPLUS (COMPARATIVE)
Years 1973 and 1972
Gurrent Year Prior Year
1973 1972
Retained Earnin�s Januarv 1 77, 215 $j.25, 641
Add: Net income (Exhibit 19) 123, 316 133, 912
Balance and Additions $Z00, 531 $259, 613
Deduct: Transfers to General Fund (Exhibit 4) 204, 043 182, 398
Retained Earnin�s (Deficit) December 31 (Exhibit 16) 3. 512) 77, 215
(See notes to financial statements)
This statement is an in�egral part of report da�ed June 26, 1974.
-51-
Exhibit 18
Citv of B rooklvn Cente r
Municipal Liquor Fund
5UMMARY 5TATEMENT OF CHANGE5 IN FINANCIAL
POSITION (COMPARATIVE)
Years 1973 and 1972
Current Year Prior Year
1973 1972
Source of Funds
Operations:
Net income for year (Exhibit 19) $123. 316 $133, 972
Add: Charges not requiring funds deprec-
iation 5, 995 5, 792
Net Funds Provided by Operations $129, 311 $139, 764
Reduction of working capital 126.417 45. 193
Total Source of Funds $255. 728 $184. 957
Aunlication of Funds
Purchase of properties 51, 685 2, 559
Transfers to General Fund 204, 043 182, 398
t
Total Application of Funds $255. 728 $184, 957
Analysis of Chan�es in Workin� Capital
Beginning End of Working Capital
of Year Year Increase (Decrease)
Current assets $221, 785 $214, 720 7, 065)
Current liabilities 178 979 298, 331 (119. 352)
Workin� Capital Year 1973 42, 806 �83, 611) $(126, 417)
Current assets $292, 131 $221, 785 70, 346)
Current liabilities 204, 132 178, 979 25, 153
Workin� Capital Year 1972 87. 999 42, 806 45, 193)
(See notes to financial statements)
This statement is an integral part of report dated June 26, 1974,
-52-
Sale s
Less: Cost of sales
Gross Mar�in on 5ales
Operatin� Ex�enses Requirin� Funds
Salaries and wages
�2.ent
Insurance
Payroll taxe s
Utilitie s
5upplies
F3eating
Repairs and main�enance
Laundry
Inva�tory variance
Audit
Protection services
Advertising
Telephone
Legal fees
Provision for uncollectible checks net of recoveries)
Cash over) short
Mileage
Miscellaneous
Taxe s and license
B reakage
Total Operatin� Expenses Requirin� FundS
Net Operatin� Income (Loss) Before Depreciation and Amortiza�ion
Less: Depreciation and amortization
Net Ope ratin� Income Los s)
Add: Interest income on temporary investments
Miscellaneous income
Net Income (Exhibit 17)
(See notes to financial stat,eme�ts)
This statement is an integral part of report dated .�un� 26, 1974.
-53-
Exhibit 19
Citv of Brooklvn Center
Municipal Liquor Fund
STATEMENT OF INCOME AND EXPENSE f COMPARATIVE)
Years 1973 and 1972
Combined Total
Humboldt Square Brooklyn Boulevard Northbrook Current Year Prior Year
Store'� Store Store 1973 1972
$312, 420 $540, 584 $615, 134 $1, 468, 138 $1, 45p, 456
246, 258 427, 273 487, 522 1 161. 053 1, 132. 350
66. 162 $113, 311 $127, 612 307, 085 318. 106
35,679 41,34� 39,275 116,295 118,482
1,227 13,207 14,434 14 ,299
3, 602 4, 476 4, 708 12, 786 14, 792
2, 940 3, 382 3, 707 10, 029 9, 055
1, 972 2, 020 3, 375 7, 367 7, 165
q72 1,315 1,358 3,645 3,584
1,122 359 734 2,215 2,944
454 687 795 1,936 3,118
378 631 616 1, 625 1, 402
474 386 744 1,604 793
409 615 592 1, 616 1, 187
373 641 468 1, 482 1, 510
336 336 337 1,009
301 274 274 849 _815
195 488 683
126 121 181 428 328
92 144 60 296 107
55 58 74 187 253
104 55 25 184 387
29 29 28 86 60
29 29 92
50.840 56.899 71.046 178,785 180,373
15, 322 56� 412 56, 566 128, 300 137, 733
22 1, 354 4, 619 5, 995 5. 792
15,300 55,058 51.947 122,305 131,941
853 761
158 1,270
t 123,316 133.972
*Formerly Lyndale Avenue Store.
-54-
AS5E TS
Current Year Prior Year
1973 1972
Plant. Eauipment and Construction Funds
Mains and lines $10, 211, 678 $10, 151, 077
Structures 406, 128 406, 128
Equipment 284, 137 286, 135
Meters 259, 015 246, 296
Land 23, 621 23, 621
Plant and Equipment in Service (Exhibit 25) $11, 184, 579 $11, 113, 257
Construction in progress 603, 144 5, 993
Unexpended bond proceeds (Note 5) 71, 169 629, 317
Total Plant, Equipment and Construction Funds $11, 85$. 892 11 748. 567
Restricted Assets
Investments funded depreciation (Note 6) 636, 149 510, 034
Debt retirement account (Note 5) 190, 900 187, 176
Metro Sewer Board receivable (Note 7) 295, 754 303, 747
Investments plant expansion (Note 5) 1, 466, 765 1, 022, 453
Total Restricted Assets 2, 589. 568 2, 023, 410
Other Assets
Assessments receivable principal portion 137, 160 85, 651
Investments available for payment of construction
liabilities 533, 932
Total Other Assets 671, 092 $5, 651
Current and Accrued Assets
Cash in bank 13, 819 13, 376
Accounts receivable 77, 647 86, 394
Accrued revenue (water pumped out, but not billed) 73, 435 69 069
Materials and supplies 8, 195 12, 864
Prepaid expenses 19, 085 15 986
Assessments receivable 2, 672 2, 149
Due from other funds 213, 321 191, 830
Due from other governmental units 43. 367 28, 186
Total Current and Accrued Assets 451. 541 419.854
Totals $15, 571, 093 $14. 277. 482
(See notes to financi,al staternents)
This statement is an integral part of report dated June 26, 1974.
-55-
�y of Br�q�c,�,yn, Center Exhibit 20
Public Utilities Fund
SALA,NCE SHEET (COMPARATIVE)
December 31, 1973 and 1972
LIABILITIES, RESERVES AND RETAINED EARIVINGS
Current Year Prior Year
1973 1972
5ources of Investments in Fixed Assets
Long-Term Debt:
Revenue bonds (Exhibit 26) (Note 5) 755 000
Contributions, reserves and surplus: ?85, 000
Contributions from special assessments and contractors 9, 538, 172 9, 549, 516
Revenue bonds redeemed (Note 5) 245, 000 215, 000
Interest income accumulated on bond proceeds 303 896 264, 894
Depreciation provisions represented as invested in
plant (Note 6) 915, 988 905, 266
Plant and equipment charged to income 100, 836 28. 891
Total Sources of Investments in Fixed Assets 11 858. 892 11 748. 567
Reserves for Restricted Assets
Depreciation provisions represented as not invested
in plant (Note 6) 636, 149 510, 034
Debt service reserves (Note 5) 190, 900 187, 176
Metro Sewer Board reserves (Note 7) 295, 754 303, 74?
Restricted for plant expansion (Note 5) 1, 466 765 1 022. 453
Total Reserves for Reatricted Assets 589. 568 2, 023, 410
Other Liabilities and Credits
Customer meter deposits 263, 034 247, 422
Deferred gain on sale of assets (Note 7) 88 690 91, 975
Construction contracts 533 698
Total Other Liabilities and Credits 885 4?�2 339� 397
Current and Accrued Liabilities
Vouchers payable 39, 149 13, 834
Contracts and notes payable 301 2, 349
Accrued salaries payable 1, 988 1, 771
Accrued payroll taxes 1, 253 2, 359
Due to other funds 106, 843 13, 860
Total Current and Accrued Liabilities 149, 534 34� 173
Balance of Retained Earnin�s (Exhibit 22) 87, 677
131.935
Totals $15, 571, 093 $14. 277, 482
1
-56-
Citv of Brooklyn Center Exhibit 21
Public Utilities Fund
5TATEMENT OF CHANGE5 IN FINANCIAL POSITION (COMPARATIVE)
Years 1973 and 1972
Current Year Prior Year
1973 1972
5ources
Operations:
Utility income 527, 510 278, 089
Add: Charges not requiring outlay of funds:
Depreciation (Exhibit 22) 142. 728 137, 455
670,238 415,544
Less: Bond interest expense 30, 639 31, ?67
Total from Operations 639, 599 383, 777
Decrease in working capital 83, 674
Contributions by contractors and special assessments 65, 951
Increase in customer meter deposits 15, 612 16, 026
Restriction of retained earnings for plant expansion
(Note 5) 444, 312 1, 022, 453
Interest income accumulated on bond proceeds 39, 002 32, 925
Reduction of Metro Sewer Board receivable (Note 7) 8, 741 11, 486
Reduction in restricted debt service assets 47
Decrease in assessments receivable 4, 265
Total Sources $1. 230, 940 �1,, 536, 930
Application s
Invested in plant and equipment 77, 213 103, 577
Increase in construction funds 39, 003 28, 481
Increase in reserve for current year deferment
charge of Metro Sewer Board 748 21 908
Debt retirement 30, 000 30, 000
Increase in reserve for plant expansion 444, 312 1, 022, 453
Amortization of deferred gain on sale of assets 3, 285 3, 285
Increase in restricted investments 570 661 302, 835
Increase in working capital 24, 391
Reduction in contributions by contractors and
special assessments 11, 344
Increase in restricted debt service assets 2, 865
Increase in assessments receivable 51, 509
Total Applications �1, 230, 940 �1. 536, 930
Chan�es in Workin� Capital
Working capital, beginning of year 385, 681 361, 290
Working capital, end of year 302, 007 385, 681
Decrease (Increase) in Workin� Capital 83, 674 24. 391)
(See notes to financial statements
This statement is an integral part of report dated June 26, 1974.
-57-
Citv of Brooklvn Center Exhibit 22
Public Utilities Fund
STATEMENT OF OPERATION5 AND RETAINED EARNINGS (COMPARATIVE�
Years 1973 and 1972
1973 Combined
Water Sewer Current Year Prior Year
Department IJepartment 1973 1972
�Jtilitv Operatins Revenue
Residential sales ,$240, 725. $250, 658 $�91, 3$3 �i 456, 70?
Commercial sales 135, 097 149 284, 475 258, 474
Service hookup charges 122, 733 122, 733 19, 204
Penalties 1, 068 5, 057 6, 125 6, 019
Other 1, 679 10, 055 11, 734 28. 269,
Utilitv Operatin� Revenue $501, 302 $415, 148 $916, 450 768. 673
Utilitv Operatin¢ Expenses
Operating expenses (Exhibits 23, 24) $120, 541 $262, 459 $383, 000 447, 567
Depreciation (Exhibit 25) 89 52, 73? 142, 728 137, 455
Utilitv Operatin� Expenses $210. 532 $315, 19b $525. 728 585, 022
Utilitv Operatin� Income $290, 770 99, 952 $390, 722 183, 651
Other Income
Interest 63, 766 73, 022 136, 788 94, 438
Utilitv Income $354, 536 $172, 974 $527, 510 278, 089
Income Additions
Metro 5ewer Board reserves restored to retained
earnings (Note 7) 8, 741 11, 486
Adjustment of debt service reserves to restricted asset balance 47
Total Income Additions 8. 741 11. 533
1 Income Deductions
Redemption of debt 30, 000 30, 000
Interest on long-term debt 30, 525 31, 650
Bond paying agent charges 114 117
Capital outlay charged against income 71, 945 20, 230
Charge for reserve for current year deferment 748 21, 908
Adjustment qf debt service reserves to restricted aeset balance 2, 865
Total Income DPductions. $136, 197 103, 905
Balance of Income Available for Transfer to Retained Earnine�s $400, 054 185, 717
(Exhibit 21)
Retained Earnin�s Januarv 1 131. 935 968, 671
Available for Appropriation $531, 989 $1, 154, 388
Less: Appropriation of retained earnings 444,, 312 l 022, 453
Ret Earnin�s December 31 (Exhibit 20) 87 677 131 35
ained
(See notes to financial statements)
This statement is an integral part of report dated June 26, 1974.
-58-
Source of
Supplv Transmission
Labor 9,59g
6, 878
Electricity 19 469
Rent and administration
Purification supplies 7, 610
Materials 2, 983 2, 402
Payroll taxe s 869 621
Postage
Insurance
Repairs 32 1 626
Supplies 1, 081 r 257
Refunds
Consulting fees
Equipment operation 172 46
Fuel heating 1, 087
f Small tools and equipment 123
Loss on retirement of assets 918
Printing
Fuel equipment
i Schools and conferences
Equipment rental 144
Dues and subscriptions
Alarm system 60
Totals 43, 228 12, 748
(See notes to financial statements)
This statement is an integral part of report dated June 26, 1974.
_59_
City of Brooklvn Center Exhibit 23
Public Utilities Fund
WATER DEPARTMENT OPERATING COST5 (COMPARATIVE)
Years 1973 and 1972
Classification bv Function Cornbined Totals
Customer Current Year Prior Year
Administration Accountin� 1973 1972
25,136 13 ,269 54,881 55,017
19, 469 17, 845
9, 152 9, 152 8, 758
7, 610 9, 753
69 5 454 7, 230
2,278 1,202 4,970 4,261
3,575 3,575 3,985
3, 006 3, 006 2, 500
1,658 14,296
91 20 1,449 1,941
t 1, 450 1, 450 534
1, 410 1, 410 9, 692
718 208 1,144 1,678
1,087 1,918
795 918 127
918
663 663 450
560 560 619
500 500 81
288 432 249
I75 175 166
60
1 45�6Z8 18,937 $120,541 $141,100
1-
1
1
1
1
1
-60-
D:isposal
Pumpin� T ransmi s sion
Metro Sewer Board charge (Note 7) $194, 84z
Labor 7, 940 6, 406
Rent and administration
Electricity 7, 159
Payroll taxes 719 58Q
Refunds
Materials 1, 368 207
Insurance
Postage
Equipment ope ration 224
Consulting fees 942
Repairs and maintenance 876
Sma11 tools and equipment 66
Alarm system 710
Legal fees 600
Fuel equipment
Supplie s 324 3
Schools and conferences
Equipxnent r�ntal 10 174
Fuel heating 163
Printing
Totals (Exhibit 22) $215.877 7.436
(See notes to financial 5tatements)
This statemen� is an in�egral part of report dated June 26, 1974.
-61-
C itv of B rooklvn C ente r Exhibit 24
Public Utilitie s Fund
SEWER DEPARTMENT OPERATING EXPENSES (COMPARATIVE)
Years 1973 and 1972
Classification by Function Combined Totals
Customer Current Year Prior Year
Administration Accountin� 1973 1972
$194,842 $241,079
13,761 7,034 35,141 32,274
9,152 9,152 8,758
7,159 5,122
1,246 637 3,182 2,516
2, 076 2, 076 475
1,575 3,436
1,376 1,376 3,056
1,158 1,158 1,085
718 208 1,150 1,059
942 3, 531
876 495
753 819 210
710 951
600 288
560 560 619
59 40 42 6 760
206 206
184 316
163 174
162 162 263
29.907 9,239 $262,459 $306,467
-62-
�I
1
Assets
1-1-73 12-31-73
Balance Additions Retirements Balance
Water Department
Mains and lines 4, 877, 404 56, 911 4, 934, 315
Structures 406,128 406,128
Consumer meters in use 246, 296 16, 061 3, 343 259, 014
Equipment 276, 105 551 2, 548 274, 108
Land 23,071 23.071
Total Water Denartment 5, 829, 004 73, 523 5, 891 5, 896, 636
5ewer Department
Mains and lines 5, 273, 673 3, 690 5, 277, 363
Equipment 10, 030 10, 030
Land 550 550
Total Sewer Denartment 5, 284, 253 3, 690 5, 287. 943
Totals $11, 113, 257 77, 213 5, 891 $11, 184, 579
(Exhibit 20)
(5ee notes to financial statements)
This statement is an integral part of report dated June 26, 1974.
-63-
Exhibit 25
Gitv of Br.oQklvn Center
Public Utilities Fund
STATEMENT OF PLANT AND EQ[JIPMENT AND ALLOWAIVCE
FOR DEPRECIATION
December 31, 1973
Provision for Depreciation
1-1-73 12-31-73 Depreciable
Balance Additions Retirements Balance Life Years)
376, 927 48, 774 425, 701 100
159, 506 13, 538 173, 044 30
87,422 12�768 3,Q51 97,13q 20
118, 411 14, 911 2, 840 130, 482 5, 10, 20, 25
742,266 89.991 5,891 826.366
663,004 52,737 715,741 100
10, 030 10, 030 5, 10, 20, 25
673, 034 52, 737 725, 771
1
�,1 415. 300 142 728 $,�5, 891 $1, 552. 137
(Exhibit 22) (Note 6)
-64-
i
1
REVenue Bonds F'ayable
Principal Interest Year
Certifieate Interest Outstanding Coupons Out- of
Numbers Rate 12-31-73 standin� 12-31-73 Maturitv
50-55 3.75% 30,000 29,400 1975
56-61 3. 90 30, 000 28, 264 1976
62-68 3. 90 35, 000 27, 056 1977
69-75 3, 90 35, 000 25, 740 1978
76-82 3.90 35,000. 24,375 1979
83-89 3.90 35,000 23,010 1980
90-06 3.90 35,000 21,645 1981
97-104 3.90 40,000 20,231 1982
105-112 3.90 40,000 18,720 1983
113-120 3.90 40,000 17,160 1984
121-128 3,90 40,000 15,600 1985
129-137 3.90 45,000 13 ,991 1986
138-146 3.90 45,000 12,285 1987
147-155 3.90 45,000 10,530 1988
156-164 3.90 45,000 8,775 1989
165-173 3,90 45,000 7,020 1990
174-182 3.90 45,000 5,265 1991
183-191 3. 90 45, 000 3, 510 1992
192-200 3,90 45,000 1.755 1993
$755,000 $314,332
(Exhibit 20)
(5ee notes to financial statements)
This statement is an integral part of report dated June 26, 1974.
-65-
Exhibit 26
City of Brooklvn Center
Pu�lic Utilities Fund
STATEMENT OF REVENUE BONDS PAYABLE
December 31, 1973
General provisions of issue:
A. Obligations are payable solely from net operations of
the Public Utilities and are in no way a general tax
liability of the City.
B. All bonds which mature on January 1, 1982 or thereafter
are subject to redemption (call) on January 1, 1974, or
any interest payment date thereafter in inverse numerical
order, at par and accrued interest and premium as follows:
1. If red ee med prior to January 1, 1977, premium of
3
2. If redeemed January 1, 1977, or thereafter prior to
January 1, 1981, premium of 1-1 /2
3. If redeemed January 1, 1981, or thereafter, no
premium,
C. The resolution authorizing and directing the issuance of
these bonds contains certain covenants and restrictions
enacted for the general purpose of protecting the bondholders.
Paragraph 8 of the resolution provides for the segregation
of assets and the restriction of surpluses for debt retirement
purposes and defines the manner in which the activities of
the Public Utilities Fund will be accounted for. Note 5 of
"Notes to Financial Statements" refers to various accounting
requirements in more detail and should be referred to.
-66-
A�encv
Fire
Department
Relief
AssQCiation
ASSET5
Cash on hand and in depositories
Inve stments
Accrued revenue
Due from other funds 92
Taxes receivable:
Current year's levy 906
Prior years' levy 1, 261
Total Assets 2, 259
LLABILITIES AND FUND BALANCES
Accounts ayable
P
Due to other funds
Fund balancES (Exhibit 28) 2, 259
Tota1 Liabilities and Fund Balances 2, 259
(See notes to financial statements)
This statement is an integral part of report dated June 26, 1974.
-67-
Citv of Brooklvn Center Exhibit 27
Trust and At�encv Funds
C OMBINED BALANCE SHEET LCOMPARATIVE)
December 31, 1973 and 1972
A e�cv Truat
Public
Employees Police Combined (1lTote 10)
Retirement Pension Current Year Prior Year
Association Fund 1973 1972
54 68 122 30,460
2,010 540,850 542,860 419,114
9, 006 9, 006 5, 551
4, 467 107 4, 666 3, 455
2,803 2,250 5, 4 ,187
2.432 2,155 5,848 5,701
11,766 $554,436 $568.461 $468,468
12,443 12,443 8,986
2, 715
677) $554,436 556.018 456,767
11 ,766 $554,436 $568.461 $468.468
(Exhibit 1)
1
-68-
A�ency
Fire
Department
Relief
Association
Fund Balance January 1 1, 965
Add:
Real e state taxe s 2 5 662
Insurance premium rebate 27 46q
PERA contributions fram enterprises funds:
Liquor stores
Public Utility Fund
Exnployee contributions
Earnings on temporary investments
Balance and Additions 55, 096
Deduct: Expenditures:
Payrnent to principal af agency 52, 785
W rite -off of tax levy balance s 52
Refund of employee contributions
Total Expenditures 52, 837
Fund $alance December 31 (Exhibit 27) 2, 259
(5ee notes to financial statements)
This staterz�ent is an integral axt of re ort dated June 26 1 74.
P P 9
_b9_
Citv �f Brooklm Center Exhibit 28
Trust and A�encv Funds.
COMBINED STATE1vIENT OF REVENUE,
EXPENDITURES AND FUND BALANCES COMPARATIVE)
Years 1973 and 1972
A�encv Trust
Publi c
Employee s Police Combined
Retirement Pension Current Year Prior Year
As sociation Fund 1973 1972
7, 141 $447, 661 $456, 767 $343 697
I 73, 032 61, 534 160, 228 161, 624
27 ,469 44,134
10,029 10,029 9,055
7, 362 7, 362 6, 544
18,484 18,484 18,344
110 32.206 32,316 23,985
97,674 $559,885 $712.655 $607,383
98,197 $150,982 $142,712
154 206 20
5, 449 5, 449 7, 884
98.3�1 5,449 $156,637 $150.616
677) $554, 436 $556, O18 $456, 767
-70-
ASSETS
Cash in depositories
Accrued interest receivable
Inve stment s:
Face Premium of Cost
Value (Discount) Basis
Certificates of deposit 355, 000 355, 000
U. S, government securities 580, 000 9, 436) 570, 564
U. 5, government agency securities 4, 650 oao 6�7 650, 637
Construction loan certificates 731, 700 731. 700
Total Investxnents �6, 316. 700 8, 799)
Total Assets
LIABZLITIES
Contracts payable
Due contractors (Performance deposits)
Unclaimed cash (Law enforcement activities)
Due participating funds (Exhibit 31
Total Liabilitie s
(See notes to financial statemen�s)
This statement isan integral part of report dated June 26, 1974.
-71-
Exhibit 29
Citv of Brooklvn Center
Investment Trust Fund
BALANCE SHEET (COMPARATIVE)
December 31, 1973 and 1972
Current Year Prior Year
1973 1972
5, 764 17, 595
145, 464 155, 885
307.901 5,308.823
�6 459,129 �5 482.303
17, 167
29. 887 47, 557
18 18
6.412,057 5,434.728
,�6 459, 129 �5, 482, 303
-72-
Exhibit 30
C itv of B rooklvn C ente r
Tnvestment Trust Fund
STATEMENT OF EARNINGS (COMPARATIVE)
December 31, 1973 and 1972
Current Year Prior Year
1973 1972
Interest Income
United States gavernment s,�curities $326, 656 �i255, 361
Construction loans 41, 719 57, �62
Bank savings certificates 23, 65f� 6, 616
Total Interest Income $392, 031 $319. 539
Expenses
Audit 8 4 711
Net Income Distributed to Participatin� Funds $391, 221 $318, 828
Explanation
The Investment Trust k'und was established in 1956 to provide a uniform and
consistent method of investing terr�porary surpluses of cash. Net incQme of the
fund is distributed annually to each of the participating funds on the basis of the
average yearly investment maintained by each fund. The net income and the
effective rate of return on average investment by participatang funds i.s shown
b�low by years,
Rate of Net
Year Retuxn Income
1973 6. 63�/0 391, 221
1972 6. 30 318, 828
1971 6. 66 322, 365
1970 6.30 250,408
1969 5. 90 164, 336
1956-1968 2. 77 5. 20 672, �42
Total Distributed Earnin�s for Years 1956-1973 �2, 119. 600
(See notes to fi�ancial statements)
This statement is an inte xal art of re ort dated .Tune 26, 1974.
g P P
-73-
City o£ B rooklvn Cente r Exhibit 31
Inve stment T ru st Fund
CHANGE5 IN PARTICIPATINC FUNDS' BALANCE
Year 1973
Balance Net Fund Income of Balance
January I, Additions 1973 Decembe r 31,
1973 (Withdrawals) Distributed 1973
Special Assessment Funds
Bond Fund No. 1 10, 709 b91 720 12, 120
1955 A 95� 344 8, 400) 6, 444 93, 388
1956 AC 127, 953 6, 496) 9, 198 130, 655
1956 B 4, 840 3, 100 367 8, 307
1957 AB 7, 772 6, 699 619 15, 090
1 1958 A 126, 436 10, 599) 8, 590 124, 427
1958 B 137, 186 15, 500) 8, 832 130, 518
1959 AB 124, 313 18, 100) 8, 404 114, 617
1960 AB 342, 485 23, 779) 23, 639 342, 345
1961 AB 371, 676 27?) 24, 993 396, 392
1963 A 213, 843 2, 800) 14, 560 225, 603
1965 A 54, 342 900 3, 830 59, 072
1966 A 82, 472 600) 6, 346 88, 218
1969 A 74, 811 3, 900) 6, 176 77, 087
1970 66, 320 38, 600 8, 557 113, 477
1973 -0- 184,169 370 184,539
General Debt Retirement Funds 80, 283 13, 044 7, 252 100, 579
Othe r Fund s
General Fund 63, 414 88, 295 1, 481 153, 190
Poor Fund 9, �97 4, 401 408 13, 906
Public Employees' Retirement 12, 158 10, 258) 110 2, O10
Liquor Fund 1, 446 1 95 1, 542
Public Utilities Fund 1, 532, 486 457, 000 113, 428 2, 102, 914
Bond Funds 3, 558 235 3, 793
1 State Aid Construction Fund 1, 527, 928 (370, 75?) 100, 532 1, 257, 703
Park Concessions Fund 53 700 58 811
Capital Projects Fund 153, 923 55, 400) 8, 534 107, 057
Library Sales Fund 83, 028 98, 300 7, 532 188, 860
Public Utilities Construction
Account 26, 431 12, 263) 2, 659 16, 827
Police Pension Fund 1, 613 46, 767 650 49, 030
Open Space Land Acquisition Fund 1, 094 1, 094) 9 9
Public Utilities Revenue Bond
Account 24, 660 29, 099 3, 980 57, ?39
Federal Revenue Sharing Fund 71, 397 156, 222 12, 613 240, 232
Undistributed tax settlement 1, 657 1. 657) -0- I
Total All Participatin� Funds $5. 434, 728 $586, 108 $391. 221 $6, 412, 057
t (See notes to financial statements)
This statement is an integral parE of report dated June 26, 1974.
-74-
Investment in Fixed Assets
Land and land improvements
Buildings and building improvements
Park properties (including buildings)
Furniture and fixtures
Departmental equipment
5torm sewers and street projects
Total Investment in Fixed Assets I
Source s of Inve stment
General indebtedness
General Fund revenues (includes ad valorem levies)
Liquor store revenue certificates
Contributions received
5pecial assessment projects:
Owners, contracts and city share
Hennepin County
Capital Projects Fund:
General obligations bonds
Ad valorem tax levy 1968 and 1969
Sale of land
Transfers of surplus froxn special assessments debt service funds
Transfer from Mayor and Council's Contingency Account
Interest earnings on investments
Federal revenue sharing monies
Total Sou rce s of Inve stment in Fixed As sets
(See notes to financial statements)
This statement is an integral part o£ report dated June 26, 1974.
-75-
Citv of B rooklvn Cente r Exhibit 32
5UMMARY STATEMENT OF GENERAL FIXED ASSET5
December 31, 1973
Balance Year 1973 Balance
January 1� 1973 Acquisitions Disposals December 31, 1973
309, 013 10, 619 319, 632
2. 731, 078 20, 591 2, 751, 669
1, 410, 426 26, 111 12, 132 1, 424, 405
146, 322 5, 248 151, 570
g99, 874 75, 925 24, 229 951, 570
7. 792, 531 731, 319 8 523. 850
13 289,244 $869.813 36,361 $14,122,696
605, 891 5, 400 600, 491
1, 319, 694 $108, 706 24, 229 1, 404, 171
304, 571 304, 571
320, 699 320, 699
7, 615, 351 731, 319 6, 732 8, 339, 938
177, 180 177, 180
2,250,000 2,250,000
265, 243 265, 243
38, 654 38, 654
198, 386 19g, 386
3, 000 3, 000
190,575 17,040 207,615
12. 748 12, 748
$13 $869,813 36,361 $14,122,696
-76-
Exhibit 33
Citv of Brooklvn Center
SUMMARY STATEMENT
OF GENERAL LONG-TE.RM DEBT AND INTEREST (COMPARATIVE)
December 31, 1973 and 1972
Current Year Prior Year
Amount Available and to be Provided 1973 1972
Amourrt available in debt service funds (Exhibit 10):
Park bonds 66, 767 33, 706
Library bonds 10, 022 8, 818
Building and improvement bonds 55, 937 40 199
State aid street bonds 6, 39� 6, 370
Certificates of indebtedness 11, 078 10. 533
Total Amount Available 150, 197 99, 626
Amount to be provided in future pe riod s( Exhibit 34):
For interest $1, 71b, 363 $1, 986, 033
For principal 3, 630. 183 3, 808, 53?
Total Amount to be Provided ,�5 346, 546 �5, 794, 570
Total Amount Avail able and to be Pravided ,�5 496, 743 �5 894, 196
G ene r al Debt and Inte re st to be Paid in Future Pe riod s( Exhibit 34)
General debt (principal portion):
Park bonds 135,000 155,000
Library bonds 110,000 120,OQp
Building and improvement bonds 3, 125, 000 2, 235, 000
5tate aid street bonds 980, 000 1, 005, 000
Assessments on city properties (Note 8) 280, 183 293, 537
Total General Debt (Principal PortionXExhi.bit 34) ,�3 630, 183 $3, 808, 537
Tnterest payable in futuxe periods:
Bonds (Exhibit 34) �1 866, 560 0$5, 659
Total Interest Pavable in Future Periods 866. 560 �2 085, 659
Total General Debt and Intere st to be Paid in Futuxe
Periods ,�5, 496, 743 �5, 894, 196
(See notes to financial statements)
This statement is an integral part of report dated June 26, 1974. 1
-77-
General Debt Principal Portion
Payment Total Building State Aid Assess�nents
Due Principal Total Park Library Improvement Street Payable No Interest
Durin� Interest Principal Bonds Bonds Bonds Bonds General Fund
1974 423, 550 214, 152 20, OOQ 10, 000 125, 000 25, 000 34, 152
1975 417,859 219,152 20,000 10,000 130,000 25,000 34,152
1976 445, 882 259, 152 20. 000 10, 000 I4Q, 000 55, 000 34, 152
1977 422,282 249>I52 20,000 10,000 13Q,000 55,000 34,152
197g 4I4, 332 254, 152 20, 000 10, 000 135, 000 55, OQO 34, I5Z
I979 391,057 244,152 20,00� 10,000 125,000 55,000 34,152
1980 363, 363 229 152 I5, 000 10, 000 11 5, �QO 55, OQQ 34, 152
1981 3�0,404 2I8,150 10,Q00 120,000 �5,a00 33,150
1982 312,028 201,548 l0.OQ0 125,000 6Q,000 6,548
1983 299 ,631 201,42I 10,00Q 130,OOQ 60,000 1,421
0 000 135 000 60 OQO
1984 290,570 205,000 1
1985 267, 545 195, 4�0 135, (�00 6Q, OQO
I 1986 259,840 200,000 140,000 6U,000
1987 246,765 200,000 14Q,000 60,000
I98$ 243,660 210,000 150,000 60,000
19s9 229,s�5 210,00o i5o,aoo 6o,aoo
1990 66,075 60,000 60,000
1991 62,025 60,000 60,000
Totals $5 4q6 743 $3, 63�, 183 $135, 000 $110, 000 $2, 125, 000 980, 000 $2€30, 183
(Exhibit 33) (Note 8)
5ee note s to financial statements
This statement is an integral part of report dated June 26, 1974.
-78 1
City of Brooklyn Center F'xhibit 3 4
SCHEDULE QF
GENERAL LONG-TERM DEBT ANI� INTERE5T BY MA'�URITIES
December 31, 1973
Inte re st Pavable
Building State Aid
Total Pa.rk Library Improvement Street
Interest Bonds Bonds Bonds Bonds
209, 398 5, 585 4, 160 ],38, 125 61, 528
193, 707 4, 765 3, 790 130, OOQ 6Q, 152
1$6, 730 3, 945 3, 420 121, 550 57, 8L5
173, 130 3, 125 3, 04Q 112, 45Q 54, 515
160, 180 2, 305 2, 660 10�k, 000 51, 215
146, 905 1, 485 2, 280 95, 225 47, 915
134, 211 665 1, 900 87, 1Q0 �44, 546
122, 254 1, 520 79, 625 �41, 109
11Q, 480 1, 140 71, 825 37, 515
98, 210 760 63, 700 33, 750
85, 570 380 55, 250 29, 940
72, 545 46, 475 26, 070
59, 840 37, 704 22, 140
46, 765 2$, 600 18, 165
33, 660 19, 500 14, 16Q
1 19, 875 9, 750 1Q, 125
6, �75 6, 075
2 02 5 2 02 5
$l, 866, 56Q $21, 875 $25, 050 $1, 20Q, 875 $618, 760
(Exhibit 33)
-79-
Citv of Brooklvn Center
NOTES TO FINANCIAL 5TATEMENTS
Year1973
rants the Cit Council full authorit to control
Note 1: The City Charter g y y
the financial policies of the City. The Council delegates the responsibility
for the administration and execution of their policies to the City Manager
who is the chief accounting officer for the City. The accounting and
bookkeeping of all City activities are centralized in the Finance
Department. The Finance Department has the responsibility for
maintaining and prescribing all financial records, establishing and maintain-
ing internal control, and the preparation and publication of financial
and budgetary reports. The accounting activities of the City are divided into
various purpose groups or funds as required by statute and/or good
accounting practice. Except for minor variances, all accounting for
funds is on the accrual basis and in conformity with generally accepted
accounting principles applicable to governmental units as set forth by
the National Committee on Governmental Accountin,�.
Governmental budgetary accounting concepts are employed wherever
useful as a control over financial activity. Formal budgetary procedures
are not used for the enterprise funds, which are operated by the City,
because these operations are of a commercial nature.
The accounting system employed by the Public Utilities Fund
is adapted from a system specifically designed for municipally-
owned utilities by the American Water Works Association. The
investment in plant and equipment is of primary importance to
utility operations and because this is so, the accounting method in
use emphasizes a source and application of monies concept in
accounting for plant and equipment costs, Accordingly, fixed assets
are shown at total cost on the left hand side of the balance sheet
and depreciation provisions are shown on the right. This presentation
of assets at gross cost and the reflection of accumulated depreciation
as a reserve on the right hand side of the balance sheet is peculiar
to utility accounting and at odds with normal commercial concepts which
usually reflect accumulated depreciation as a reduction against the
asset cost so as to show the net remaining cost of plant and equipment
not yet amortized to expense.
Note 2: All Funds
The "Combined Balance 5heet All Funds and Account Groupa (Condensed
Form) 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
construed as indicative of the over all financial position of the City. The
financial position and results of operations of each fund should� be
ascertained by reference to individual exhibits as submitted for that fund
within this report.
-80-
C itv of B rookl.vn C ente r I
NOTES TO FINANCIAL STATEMENTS
Year 1973
Note 3; 5necial Assessment Funds I
These funds are used to account for constructian and finaneing of
public improvements such as streets, curbs, storm sewers, sanitary sewers
a.nd the water system. The accounting is arranged so �hat the related
activities of project construction, financing of construction and the
assessment of costs to property owners are recorded withxn the sanne fund
entity. Budgetary accounts are employed to provide a means of cantrol
over expendi.tures incurred for construction.
Costs are assessed to property owners by the special assessments
division, under the supervision of the engineering and public works
department, after total pro�ect expendttures are verified with the
finance department.
The nominal differences on street and sewer pro�ects between assessed
and actual costs, which are caused when costs are spread over many
properties, are guaranteed by the City. This amount is $93 for the year
1973. (See Exhibit 14.
Note 4; Municipal Liquor Fund
Merchandise inventories are valued at current wholesale prices
and the amount o£ cash discounts and promotional discounts are takez�
into income as a reduction of cost of sales during the year of purchase.
This znethod of accounting for inven�ory and discounts facilitates the
preparation of internal reports because it establishes a uni�orm basis of
measuring gross profit margins. The uniformity of gross margi.n measure
is necessary for purposes of good internal control. (Periodically, perpetual
inventories are verified by count and gross xnargins are examined in the
light of past experiences to detect any variances that may exist. This
method of valuation overstates inventory because discounts applicable to
merchandise on hand have been credited to operations rather than reducing
invoice cost of inerchandise to actual cash cost). Accordingly, inventories
as of December 31, 1973 and 1972 (on Exhibit 16) are stated approximately
$�.3, 000 and $16, 000, respectively, over actual cast. The effect on operating
results as reflected for the Year 1973 on Exhibit l.9 is immaterial because
of the of�setting effect between beginning o£ the year and end of the year
invento ry.
The Lyndale Avenue Store (Store #1) occupies space in Huxnboldt Square
Shopping Center under terms of a lease which expires i.n 1978. The Brooklyn
Boulevard Store (Store #2) is located on city-owned property. The lease for
the Brookdale Shopping Center 5tore (Store #3) expired January 31, 1972
and operation at the location ha� been discontinued. Store #4 is located in
the Northbrook 5hopping Center and the premises are occupied pursuant
to terms of a lease which expires October 31, 1976.
-8
1
Citv of $rooklvn Center
NOTES TO FINANCIAL STATEMENT5
Year 1973
Public Utilities Fund
Note 5:
Public Utilities revenue bonds were issued during 1963 for the
purpose of financing an addition to the water works system. These
bonds, together with related interest and service charges are payable
solely from the Public Utilities Fund and are not considered a general
obligation of the City. The resolution authorizing and directing the
issuance of these bonds defines the method of accounting for the
utilities fund and imposes certain covenants and restrictions which serve
the purpose of protecting creditors interests.
As required by Paragraph l0e of the issuing resolution, an analysis
of each account balance appears below:
Construction Account (Exhibit 20)
Proceeds of bond sale �1, 000.000
Add:
Investment earnings thru 1972 264, 894
1973 investment earnings 39.002
Total Investment Earnings 303
(Exhibit 20)
Deduct:
Construction expenditures thru 1972 635, 577
1973 construction expenditures 597, 150
Total Construction Expenditures 232. 72?
Construction Account Balance (Exhibit 20) 71 169
Debt Retirement Account (Exhibit 20)
Cash on hand with paying agent to
redeem coupons and principal
maturing 1 /1 /74 46, 679
Accumulated amounts set aside to
meet 1974 requirements for interest
and principal
Cash 7
Investments with accrued interest 69 151
Reserve account investments 75, 000
Total Debt Retirement Account 190. 900
-82-
Citv of Brooklvn Center
NOTES TO FINANCIAL 5TATEMENTS
Year 1973
t
Note 5: Public Utilitie s Fund
Cont'd A summary which reconciles restricted assets with restricted
surplus and also compares restricted surplus with restriction
requirements as set forth by the resolution au�horizing the sale of
revenue bonds is presented below:
Revenue
Construction Bond Reserve
Account Account Accaunt
Restricted Assets 12 /31 /73 71, 169 $115, 900 75, 000
Less:
1) Liabilitie s payable from
restricted funds 46 679)
2) Unexpended bond proceeds -0-
Restricted 5urpluses at 12/31 /73 71, 169 69. 221 75, 000
Investment plant expansion and related reserve
Since 1963 the Public Utility Fund has been accumulating funds
for the purpose of e.xpanding their investment in plant and equipment to
5upply water to the residents of the City. The present plan for expansi,on
of facilities has a cost estimate of $6, 18�, 000. The planned capital
outlays include the construction of water mains, a 1, 5 MG water tower,
and a 10 MG water treatment plant with completion estimated during 1978.
The amount of $1, 466, 765 has been set aside or reserved to
partially meet the financing requirements of this capita], budget. A plan
for the systematic accumulatipn of the remaining balance is currently
unde r study.
Note 6: Public Utilities Fund
Annual depreciation charges to income (which are non-cash expenses)
have the effect of conserving monies or other curren� assets within
the entity because they reduce the balance of retained earnings available
for purposes of rate reduction or transfer. A portxon of the monies so
conserved (or reserves accumulated) has been reinvested in plant facilities
and accordingly these "depreciation provisions" are segregated as to the
portion of reserves whictz have been reinvested in plant (1973, $915,9$8;
1972, $905, 266) and those amounts held in Reserve 1973 $636 �.49;
1972, $510, 034) as funded depreciation.
-83-
City of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
Year 1973
Note 6: Public Utilities Fund
C ont' d
This presentation of assets at gross cost and the reflection of
accumulated depreciation as a reserve on the right hand side of
the balance sheet is peculiar to utility accounting and at odds with
normal commercial concepts which usually reflect accumulated
depreciation as a reduction against the asset cost so as to show the net
rexnaining cost of plant and equipment not yet amortized to expense.
Because the investment in plant and equipment is of such para-
mount importance, the balance sheet presentation used, with
an informative emphasis on source and application of monies for
plant investment, is considered the most appropriate. However,
if the presentation employed usual commercial concepts, the
balance of plant, equipment and construction funds (1973, $11, 858, 892;
1972, $11, 748, 567) would be reflected net of depreciation provisions at a
total of (1973, $10,306,755; 1972, $10,333,267).
Note 7: Public Utilities Fund Metro 5ewer Board Receivable and Reserves
Pursuant to enacted legislation (Metropolitan Sewer Act-
Chapter 449 Session Laws) the Metropolitan Sewer Board, as of
January 1, 1971, assumed ownership of all existing interceptors
and treatment works needed to implement a comprehensive plan
for the collection, treatment, and disposal of sewage in the seven county
metropolitan area.
Under the terms of the Act the sewer board is obligated to
reimi�urse 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 5ewer Board over a period of 30 years and the amount
will earn interest at an annual rate of 4%. The method of payment will
be by right of offset. The City will apply each annual installment
against sewer service charges as billed by the Metropolitan Sewer
Board annually.
The installment credit for 1973 consisted of principal and
interest and the amount of credit offset against 1973 sewer service
billings totaled $8, 741 leaving a balance due over the next 28 years
of $230, 163. (Exhibit 20)
-84-
Citv of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
Year 1973
Note 7: Public Utilities Fund Metro Sewer Board Receivable and Reserves
Cont'd In addition to providing for reixnbursement of facility costs the
Act empowers the sewer board to defer certain reserve capacity costs
when they are disproportionate to �he economic resources of the local
governmental unit involved. These deferred costs are then allocated
to all participating communities upon the basis of population and
assessed valuation. The provisions for deferment, essentially are
designed to provide temporary economic relief to the governmental
units affected by the Act and are repayable. The current year deferment
charge (�65, 591, Exhibit 20) is collectible over the next five years.
The current value receivabl� $230, 163, and the current year
deferment charge, $65, 591, are restricted a5 to use. These amounts
are to be applied to payment of sewer service costs and accordingly
on the balance sheet (Exhibit 20) are shown as restricted reserves.
Exhibit 20 also reflects a deferred gain on the sale of assets to
the sewer board. The original gain totalled $98, 545 and represents
the recovery of past depreciation charges. The amount of gain is
being amortized as a reduction of sewer service bi�.lings over a period
of thirty years (the term o� the current value receivable credit). The
current year's amortization in the amount of $3, 285 has been applied
as a reduction of Metro Sewer Board charges see E�hibit 24) and the
ax�ount remaining to be amortized in future years is reflected on
Exhibit 20 at the reznaining amount of 690
Note 8: Summarv Statement of General Lon�-•'�'erm Debt and Interest
Special as�essments which relate to improvements benefiting
City properties total $280, 183 as of December 31, 1973.
The paymEnt for these improvements (with no interest charge) has
been scheduled over a period extending through 1983, These assess-
ments are obligations of the general fund and payment is planned under
normal budget procedures, whereby the needed monies wi11 be appro-
priated during the years as each installment becomes due.
85-
City of B rooklyn C ente r
NOTES TO FINANCIAL STATEMENTS
Year 1973
t Note 9: Lib rarv Sale s Fund
During October, 1973, the City completed a sale to Hennepin County of
the site on which the Hennepin County Library is located. The proceeds
of the sale, $34, 750. 00, were placed in the Library Sales Fund temporarily.
Because the General Fund had paid $5, 387, 56 in special assessments due on
the property, that amount ($5, 378. 56) was applied to a transfer to be made
to the General Fund. The balance of $29, 362. 44 will be applied to Park
Bond Debt Service because the property, originally part of Northport Park,
was purchased with Park Bond monies. Section 12.05 of the City Charter
requires that the proceeds of sales of real property be applied to the debt
service of the bonded debt incurred to acquire the property.
Note 10: Pension Plans and Pension Funds
The City contributes to three pension plans as follows:
1. Public Employees' Retirement Association,
1 2, Firemen's Relief Association, and
3. Police Pension Fund.
1 The Public Employees' Retirement Association is a State-administered
plan which contains two types of coverage. One coverage is called the
Coordinated Plan and is combined with social security. All entrants to
t the Plan since 1967 are covered under the Coordinated Plan. P.E.R.A.
applies to all permanent employees except policemen, who have an
independent retirement plan. The State-administered P.E.R.A. informs
the City each year of the amount needed to provide employees' benefits.
The City made P.E.R.A. payments of $98, 197 for the year 1973.
The Firemen's Relief Association is an independently-administered
retirement plan. Actuarial studies are made of retirement needs and the
City is informed of the levy needed. The City receives such levy collections
from the County and transmits them to the Association together with
insurance premium fees received from the State, The City paid $52, 785 to
the Association during the year 1973.
The Police Pension Fund is administered b the Cit The Cit levies
Y Y Y
taxes as needed as shown by actuarial studies. Amounts received are
invested on behalf of the Police Pension Fund and are held in trust for the
Fund. The City levied $61, 534 for the year 1973.
These notes are an inte ral ar of re a e J 6
g p t port d t d une 2, 1974.
-86-
1
1
S T A T I S T I C A L
I N F O R M A T I O N
S E C T I O N
1965
Population 30 108
Real Probertv
Assessed Value:
Homestead 6, 101, 889
Excess and Non-Homestead 5. 694, 244
Total Assessed Value 11, 796, 133
Estimated Value:
Full and True 38, 711, 130
Market $116, 133, 390
Personal Pronertv
Assessed Value 1,258,488
Estimated Value:
Full and True 3, 364, 504
Market 1Q,093,512
Total Real and Personal Propertv
Assessed Value 13.054, 621
Estimated Full and True Value 42, 075, 634
Estimated Market Value $126. 226, 902
Ratio of Total Assessed Value to To�al,
Estimated Full and True Value 31027:1
Estimated Market Value 10342:1
Per Capita Valuations
Assessed Value 433.59
Estimated Full and True Value 1, 397. 49 1
Estimated Market Value 4, 192.47
-87-
5chedule l
C itv of B r. ooklvn Cente r
A5SESSED VALUE AND ESTIMATED TRUE VALUE AND
MARKET VALUE OF ALL TAXABLE FROPERTY
�v Bud�et Years
1966 1967 1 68 1 6
9 9 9 1970 1971 1972 1973 1974
31. 500 (E) 31, 570 (E) 31, 000 ;E) 34, 306 (E) 34, 717 (E) 35, 173 36, 370 (E) 36, 908 (E} 37, 207 (E)
6, 262, 938 6, 378, 859 10, 148, 539 (2) 11, 970, 877 (2) 12, 472, 359 (2) 6, 882, 636 15, 956, 478 (2) 52, 15Q, 596 (2) 53, 857, 283 (2)
5, 885, 425 7, 911, 159 5, 093, 781 (3) 7, 369. 710 (3) 8, 173, 952 (3) 19. 089. 306 10, 500, 479 (3) 36, 527, 538 (3) 40, 147, 670 3)
12, 148, 363 14, 290, 018 15. 242, 320 19, 340, 587 20 646 311 25, 971, 942 26. 456, 957 88, 678, 134 (4) 94, 00�, 953
39,765,314 45,335,857 47,862,541 58.283,382 61,796,482 75,340,288 76,641,045
$119,295,942 $136,007,571 $143,587,623 $174,850,146 $185.389.44b $226,020,864 $229,923.135 $249,328 $262,535,943
(1} fl) ll)
1, 222, 654 l, 301, 952 1, 574. 574 1, 603, 159 l. 619, 077 1, 588, 260 1, 313, 422 2, 403, 743 2, 657, 185
3.271.781 3,511,171 3,410.110 3,510,323 3,548,068 3,464,717 3,576,728
9,815,343 10,533,513 10,230,330 10,530,969 10,644,204 10,394,151 10,730,184 5,590,100 6.179.500
�1) �1) tj) �l)
13,371,017 15,591,970 16,816,894 20,943,746 22,265,388 27,560,202 27,770,379 91,081,877 96
43.037,095 48,847,028 51,272.651 61,793,705 65,344,550 78,805,005 80,217,773
$129.111,285 $146,541,084 $153,817,953 $185,381,115 �196,033,650 $236,415,015 $240,653,319 $254,9I8.765 $268,715.443
31069:1 31920:1 32799:1 33893:1 34074:1 34973:1 34619:1
10356:1 10640:1 10933:1 11298:1 11358;1 11658:1 11540:1 35730:1 35972:1
424.48 493. 89 509. 60 610. 50 641. 34 783. 56 763. 55 2, 467. 81 (4) 2. 597. 96
1.366.26 1,547.26 1,553.72 1.801.25 1.882.21 2,240.50 2,205.60
4, 098. ?7 4. 641. 78 4. 661. 15 5, 403. 75 5, 646. 61 6, 721. 49 6, 616. 81 6, 906. 87 7, 222, t7
Notes to Schedule
(1) Includes $306, 708 exem t ro ert for re lacement tax ur oses authorized b laws of 1967 Cha ter 32 extra session
P P P Y P P P Y p
(2) Includes excess homestead
3) Exclude s exce s s home stead
(4) Determination of assessed valuation calculation changed by state Iaw enacted in 1971; assessed value is now approximately
three times as great as before the enactment of the new law.
-88-
Area School District County
Year Voc-Tech #286 #279 #281 #11 Special
Collectible ,Citv 5chool (Earle Brown) (Osseol (Robbinsdale)fAnoka) Districts t
�1) �2) �3) (4)
Tax Rates Mills Per $100 of Assessed Value
1954 40.30 163.80 76.70 75.40 87.56 59.66
1955 43. 40 172. 40 111. ?0 81. 80 81. 84 29. 57
1956 42.70 175.50 120.80 95.40 85.80 33.70
1957 44, 00 106. 60 119. 90 108. 64 96. 55 31. 87
1958 46.47 126 119 .51 108.64 90.15 38.13
1959 52.05 130.94 146.66 115.18 104.95 39.32
1960 51.00 167.56 157.64 120.10 114.70 40.14
1961 48.26 189.64 163.00 139.20 123.53 41.46
1962 48.54 211.59 179.99 158.69 134.00 45.40
1963 50. 12 219. 00 184, 62 154. 72 131. 09 47. 23
1964 50.68 225.60 189.62 150.08 134.85 52.51
1965 49.80 215.26 195.50 154.72 144.7? 59.69
1966 41.62 227.22 199.98 155.00 153.23 55.66
1967 51.62 227.90 203.00 158.76 160.00 53.30
1968 51.34 236.29 211.80 163.56 188.32 64.77
1969 50. 94 78 266, 63 252. 28 184. 57 265. 29 70. 00
1970 49.65 4.51 294.55 295.42 215.01 297.66 77.18
1971 44.11 7.96 250.31 216.00 204.90 257.09 77.02
1972 43, 04 10. 38 183, 24 166. 09 147. 20 173. 68 80. 45
1973 14. 718( 5) 2. 644( 5) 55. 786( 5) 54. 023( 5) 44. 727( 5) 54. 920( 5) 27. 014( 5)
1974 15. 710( 5) 3, 084( 5) 56. 805( 5) 54. 634( 5) 50. 289( 5) 54. 845( 5) 28. 965( 5)
Area Tax Levies on Propertv Within Brooklvn Center
Year Voc-Tech
Collectible School #286 #279 #281 #11
1954 176,165 14,335 31,718 11,203
1955 226,19g 27,256 39,251 12,538
1956 290, O11 36, 956 68, 649 15, 171
1957 239, 666 76, 912 170, 396 24 547
1958 303,466 134,960 202,292 24,298
1959 327,629 237,021 228,907 30,387
1960 427,311 465,174 248,382 42,211
19b1 497,907 665,299 320,697 43,880
19b2 551 ,349 771,611 367 59,153
1963 587,665 830,918 524,099 76,198
1964 622,578 883,842 526,189 100,102
1965 668, 961 976, 585 614, 756 140, 923
1966 728,353 1,003,287 623,412 171,926
1967 836,669 1,142,570 790,174 210,428
1968 888,684 1,200,483 901,846 295,160
1969 16,096 1,238,004 1,724 773 1,317,751 535,263
1970 99,033 1,375,490 2,071,747 1,689,434 719,896
1971 216,938 1,580,568 1,852,268 1,889,9b9 807,230
1972 255, 036 1, 190, 094 1, 436, 342 1, 387 686 555, 856
1973 240, 820 1, 273, 089 506 993 1, 317, 268 599, 411
1974 298,106 1,466,912 1,571,708 1,535,659 632,575
(1) Formerly #118 (2) Formerly #28 (3) Formerly #24 (4) Formerly #29, #220
-89- 1
Gitv of Brooklvn Center 5chedule II
TAX RATES AND TAX LEVIES
Years 1953 Throu�h 1q73
Total Citv, School, Countv and State N. H, S.
5tate Di�t. #2$6 Dist. #279 Dist. #281 Dist. #�1
N.H.S. H.S. (Earle Brown) (Osseo� (Robbin�dale) (Anoka)
9.54 5.28 243.30 156.20 154.90 167.06
9.15 3.93 254.52 193.82 163.92 163.96
9.15 3.98 261.05 �06.35 180.95 171.35
9.15 3.81 191.62 214.92 193.66 181.57
12.62 6.01 224.13 216.73 205.86 187.37
12. 42 5. 90 234. 73 250. 45 218� 97 208. 74
14.32 8.10 273.02 263.10 225.56 220.16
13.85 6.84 293.21 266.57 242.77 227.10
15.51 6.39 321.04 289.44 268.14 243.45
16.85 8.31 333.20 298.82 Z68.92 245.29
17. 14 8. 22 345. 93 309. 95 270.41 255, 18
16.14 6.84 340.89 321.13 280.35 270.40
18.42 18.32 352.92 325.68 280.70 278.93
17. 24 17. 14 349. g 9 324 99 280. 75 281. 99
352.40 327.91 279.67 304.43
388.35 374.00 306.29 386.23
425.89 426.76 346.35 424.49
379.40 345.09 333 378 .22
317.11 299.96 281.07 297.17
100 162( 5) 98. 399( 5) 3$9. 103( 5) 96 652( 5)
104. 564( 5) 102. 393( 5) 98. 048( 5) 99 520( 5)
County
t Total 5pecial
School Districts City State Total Citv, Schools, Countv State
233,421 82 ,946 74 ,169 12,765 403,301
305, 243 104, 114 95, 808 12, 651 517, 816
410, 787 136, 728 122, 573 16, 578 686, 666
511, 521 214, 395 207, 532 27, 859 961, 307
665,016 309,786 262,840 48,723 1,286,365
823,954 252,434 333,000 54,601 1,463
1, 183, 078 479, 907 404, 905 84, 515 2, 152, 405
1, 527, 783 451, 594 452 289 91 090 2, 522, 756
1, 749, 804 440, 294 470, 746 98, t08 2, 758, 952
2, 018, 880 528, 874 561, 236 139, 015 3, 248, 005
2, 132, 711 615, 335 593, 890 147, 785 3, 489, ?21
2, 401, 225 779, 230 650, 137 153, 954 3, 984, 546
2, 526, 978 744, 231 690, 212 245, 668 4, 207, 089
2, 979, 841 828, 401 804, 858 268, 168 4, 881, 268
3, 286, 173 1, 069, 364 847, 632 5, 203, 169
4, 831, 887 1, 444, 592 1, 051 250 7, 327, 729
5, 955, 600 1, 694, 770 1, 090, 248 8, 740, 618
6,346,973 2,099,064 1,202 9,648,189
4,825,014 2,234,127 1,195,237 8,254,378
4, 937, 581 2, 460, 486 1, 340, 543 8, 738, 610
5, 504 9b0 2, 799 819 1, 518, 562 9, 823, 341
(5) Due to determination of assessed valuation calculation changed by state law
enacted in 1971, the resulting mill rate is approximately ane-third as great
as before the enactment of the new law, -90-
Schedule III
�Citv of Brooklvn Center
NOTES TO TAX RATES AND TAX LEVIES
Years 19�4 Throu�h 1974
Tax Limitation by Statute:
City Tax Levy pursuant to limitations of Laws of Minnesota 1973,
Chapter 650, Article IV, Sections 5, 6& 7.
Debt Service, certain special levies, and special assessxnents for
local improvements nat included in above limitation.
Taxe s Due Date;
First Monday in January
Taxes Delinquent Date:
Personal Property March 1- amounts over $10, 00 first half
March second half July 1
Real Estate fir�t half May 31; second half October 31
No discount allowed
Penalties for Delinquency: (Amended, Laws 197�4, Chapter 459)
Personal Property 8%
Hoxnestead Real Estate June 3%, July August 5%, Septennber 6%,
October 7%, Novembner and December 8%; after first Monday in
January 10%.
Non-Homestead Real Estate Tune 7 July 8%, August 9%,
5eptember 10%, October 11%, November and Deeember 1�%;
After first Monday in January 14%.
Tax sale date second Monday in May
Taxes are certified to Hennepin County and collected by th�
County Treasurer and remitted to the City.
Tax collections are distributed in the proportion of the City levy
to all levies.
-91-
Collections Percentage Collections
of Current of Levy of Prior
Total Year's Taxes Collect�d Years' Taxes
Year Tax Duxing Fiscal During Fiscal During Fiscal
C ollected� Levy Pe riod Pe riod Pe riod
1964 587, 636 573, 684 97. 62 8, 082
1965 643, 014 624, 056 97. 05 8, 186
1966 683,060 674,192 98.70 13,p69
1967 799, 79z 776, 663 97. 11 7, 710
1968 868, 807 851, 452 98. Op 14, 205
1969 1 068, 236 1, 036, 863 97. 06 16, 612
1970 1, 112, 080 1, 086, 177 97. 68 20, 620
1971 1, 224, 739 1, 112, 685 90. 85 22, 252
1972 1, 195, 237 1, 163, 912 97. 38 9b, 219
1973 1, 353, 452 1, 302, 941 96. 27 19, 480
Note: The City's taxes are the oMly ones included in this table.
92
5chedule IV
Citv of Brooklyn Center
TAX LEVIES AND TAX COLLECTIONS
Last Ten Years
Ratio of
Accumulated
R.atio Delinquent
of Total Accumulated Taxes to
Total Collections Delinquent Current Year
Collections to Tax Levy Taxes Tax Levv
581, 766 9900:1 19, 926 03391:1
632, 242 9832:1 28, 985 04508:1
687, 261 1. 0062:1 23, 619 03458•
.1
784, 373 9807:1 38, 737 04843:1
865, 657 9964:1 45, O11 05181:1
1, 053, 475 9862:1 59, 742 05593:1
1, 106, 797 9952:1 65, 026 05847
1, 134, 937 9267:1 30, 326 02476:1
1, 260, 131 1. 0543:1 48, 409 04050:1
1, 322, 421 9771: 1 42, 173 03116:1
1
-93-
Gurxent Special
Assessments Amount RatiQ of
Installments Becoming Collected �urrent
Fiscal Due During Currently During Gollections to
Period the Fiscal F'eriod the Fiscal �'eriod Amount Due
1962 $418,706 $383,202 .9152
1963 460,329 418,657 .9095:1
196� 449,253 383 848 .85�4:1
1965 444 393 ,593 ,�845:1
1966 429,759 394,942 .919�:1
1967 490, 397 458, 324 93�6:1
1968 505,409 466,466 .9229:1
19b9 538,959 476,7z7 .8845:1
1970 680, 198 605, 385 8900: 1
1971 844, 933 660, 49Q 7$17:1
1972 8-07, 317 647, 695 8023:1
1973 787, 054 589, 500 7�q0:1
T
Citv of Brooklyn Center 5chedule V
SPECIAL ASSES5MEIVT GOLLEGTIC�NS
La,st Twelve Years
Total Current and Current
Delinquent Pe rcentage Balance
Assessments Uncollected Collected Uncollected
At Year End Through 12 /31 Throu�h 12 /31
51, 692 98. 9644 4 336
73, 472 98. 4852 6, 973
119, 525 98. 3871 7, 246
136, 775 98. 1732 8, 129
135, 667 104.2224 (1 8, 146)
128, 705 9g 6715 1, 611
142 441 99. 6991 1, 521
136, 043 98. 5303 7, 921
165 592 99. 2329 5, 218
232, 717 94. 5798 45, 797
270, 543 93 4609 52, 791
312 177 74, 9000 197, 615
-95
Penaltie s and
Interest Licenses Fines
Fiscal From and and
Period Fraperty Taxes Permits Forfeitures
1964 3,168 31,026 24,215
1965 6,489 48,757 22,724
1966 8,973 50,489 22,126
1967 12,297 55,005 20,416
1968 7,464 82,09$ 31,490
1969 b,296 77,773 44,031
1970 10,076 49,859 57,970
1971 31, 792 67, 837 53, 638
1972 17,471 110 455 37 1 2 t
7
1973 17,914 96,006 53,862
-96-
Schedule VI
Citv of Brooklvn Center
REVENUES OTHER THAN PROPERTY TAXES
AND SPECIAL A5SE5SMENT5
Last Ten Years
Charges for Revenue in Excess
Current of Expenditures
Shared Services and other Public Liquor
Taxe s Revenue Utilities Sto re s
$101,578 $238,315 83,793 99,565
122,588 159,773 55,024 106,541
156,536 273,904 109,256 114,227
232,615 158,536 125,962 125,310
325, 221 196, 588 131, 280 146, 551
296,639 400,944 161,925 175,884
376,359 173,266 331,351 172,761
414,936 270,b07 276,935 168,406
612,277 285,669 278,089 133,972
669,556 277,512 527,510 123,316
1
-97-
Schedule VII
City of Brooklyn Center
EXPENDITURES FOR SELEGTED FUNCTIONS
Last Ten Years
Public Parks
Fiscal General Sa.fety and and
Period Government Welfare Hi�hwavs Recreat�on
1964 169,019 230,102 293,301 175 ,049
1965 194,888 258,719 291,306 167,042
1966 218,335 290,232 306,616 310,219
1967 217,138 338,1$7 326,357 235,834
1968 2�44,010 391,394 359,42$ 235,723
1969 250, 841 449, 426 484, 154 238, O11
1970 279,404 511,462 407,615 337,106
1971 444, 061 648, 149 452, 245 481, 854
1972 496,377 588,607 463,321 478,385
1973 494,968 587,443 500,840 466,642
-98-
Gross
Fiscal Estimated Assessed Bonded
Pe riod �opulation V alue Debt
1962 26, 858 29, 094, 342 5, 217, 400
1963 28, 203 33, 593, 520 5, 396, 100
1964 29, 024 35, 155, 290 5, 607, 800
1965 30,108 39,163,863 5,188,500
1966 31, 500 40, 113, 051 5, 263, 200
1967 31, 570 46, 775, 910 4, ?84, 800
1968 33,000 50,450,682 5,068,400
1969 34 ,306 62,831,238 7,626,400
1970 35 173 66, 796, 164 10, 733, 000
1971 36, 370 82, 680, 606 10, 005, OQO
1972 36,908 83,311,137 9,291,000
1973 37,102 91,081,877 9,224,000
=��Assessed value has been restated for years prior to 1973 so as to be
on a basis com.parable to 1973.
-99-
Schedule VIII
City of Brooklyn Center
�ATIO OF NET BONDED DEBT TO ASSESSED VALUE
AND NET BONDED DEBT PER CAPITA
�.ast Twelve Years
Less: Amount Ratio of Net Bonded Deb� to Net Bonded
in Debt Net Bonded Assessed� Debt Per
Servi�e Funds Debt Values Capita
2, 097, 219 3, 120, 181 1072:1 116. 17
920, 472 4, 475, 628 1332:1 158. 69
1, 031, 779 4, 576, 021 1302:1 157. 66
1, 591, 659 3, 596, 841 0918:1 119. 46
1, 499, 096 3, 764, 104 0938 119. 49
1, 773, 834 3, 010, 966 0644:1 95. 37
1, 986, 325 3, 082, 075 0611:1 93.40
1, 534, 261 6, 092, 139 0970:1 177. 58
1, 805, 385 8, 927, 615 1337:i 253. 82
1, 793, 277 8, 211, 723 0993:1 225. 78
1, 774, 258 7, 516, 742 0902:1 203. 66
2, 118, 269 7, 105, 731 0780:1 191. 52
1
-10�-
Schedule IX
Citv of B rooklvn C ente r
STATEMENT OF LEGAL DEBT MARGIN
December 31, 1973
Assessed value $96, 662, 138
Debt limit 6. 67°jo of assessed value 6, 447, 365
Total bonded debt $9, 224, 000
Deductions:
1. Debt Service Funds
(General Obligation) 84, 457
2. Special Assessment
Bonds 5, 119, 000
3, Utility Revenue
Bonds 755, 000 5. 958, 457
Total Debt Applicable to Debt Limit 3, 265, 543
Le�al Debt Mar�in, December 31, 1973 3, 181, 822
1
-101-
GrOSs
Governmental Unit Debt
Direct and Overlappin� Deb�
Direct Debt:
City of Brooklyn Center 9. 224, 000
Overlapping Debt:
School Districts:
No. 281 (Robbinsdale) 35, 483, 000
No. 11 (Anoka) 47, 272, 980
No, 279 (Osseo) 26, 161, 903
No. 286 (Brookl.yn Center) 2, 460, 000
Area Voc. Tech. Schoql:
No. 287 24, 700, 000
Metro Transit 15, 800, 000
Metro Council 12�, 921, 000
Hennepin County:
Park District 9, 425, 000
Buildings 17, 475, 000
Libraries 9, 375, 000
General Hospital 21, 000, 000
Total Overlappin� Debt $334, 073. 883
Total Direct and Overlappin� Debt $343, Z97, 883
i
1
1
a 1
_�02� 1
1
Schedule X
Citv of B rooklvn Cente r
COMPUTATION OF DIRECT AND OVERLAPPING DEBT
Decembe r 31, 1973
Citv of Bropklvn Center
Sinking Net 5hare
Funds Debt Per Cent Amount
2,i5i,965 7,072 (1) ioo.00% �,072
4 208 21 31 274 079 10.20 0 3 18 56
,9 9,9
3, 655, 624 43, 617, 356 5. 90 2, 573, 424
3,182,667 22,979,236 26.80 6,158,435
18, 430 2, 441, 570 100. 00 2, 441, 570
2, 242, 581 22� 457, 419 4. 90 1, 100, 414
1,834,194 13,965,806 1.50 209,487
16, 449, 271 108, 471, 729 1, 50 1, 627, 076
1, 435, 219 7, 989, 781 2. ?0 215, 724
1, 602, 948 15, 872, 052 2. 70 428, 545
663, 407 8, 711, 593 4. 80 418, 156
2.070,224 18,929.776 2.70 511,104
$37,363.486 $296,710,3q7 $18.873.891
$39.515,451 $303,782,432 $25,945,926
1) Includes $3, 189, 401 net debt out$�anding ta be paid from special
assessments and $617, 091 net debt outstanding �n revenue bonds.
t Direct Overlapping
Comparative Net Debt Ratios Char�able to Citv Total Debt Debt
Debt to assessed value ($96, 662, 138) 26. 84% 7. 32% 19. 52%
Debt to market value ($268, 715, 443) 9. 65% 2. 63% 7. 02%
Per capita debt (Population 37, 207) $697. 34 $190. 07 $507. 27
-103-
Year Principal Interest
1964 33,300 13,855
1965 33,300 14,977
1966 50,800 24,213
1967 59,400 22,280
1968 51 000 19. 604
1969 51, 000 37, 608
1970 49, 600 164, 778
1971 68,800 2�8,351
1972 90,000 223,927
1973 165,000 219,101
1
-104-
Schedule XI
City of Brooklyn Center
RATIO OF ANNUAL DEBT SERVICE EXPENDITURES FOR GENERAL
BONDED DEBT TO TOTAL GENERAL EXPENDITURES
Last Ten Yearg
Total Total Ratio of Debt
Debt General Service to Genera].
Service Expenditures Expenditures
47, 155 882, 557 5. 34 �o
48,277 942,720 5.12
75, 013 1, 335, 428 5, 62
81, 680 1, 185, 075 6. 89
70,604 1,369,842 5.15
88, 608 1, 591, 987 5. 57
214,378 1,679,129 12.7?
297, 151 2, 210, 671 13. 44
313, 927 2, 219, 355 14, 14
384, 101 2, 295, 308 16. 73
-105-
Net
G rp s s 1) Revenue
Year Revenue Exp�ns�s AvaiJ.able
1964 638, 09� 239, 356 398, 738
1965 586,979 2g1,643 2q5,336
1966 753,829 269,371 484,458
1967 669,098 282 ,528 3$6 ,570
1968 743,316 29Z,818 450,498
1969 854,367 360,249 494,].18
1970 1,060,322 �00,824 6�9,498
1971 1, 140, 730 558, 18q �82, 541
1972 863, 111 447, F67 321, 106
1973 1,053,23$ 383,000 7Q0,2�8
(1) Ex�ludes depreciation and interest on bonds.
-106-
Schedule XII
City of Brooklyn Center
SCHEDULE OF REVENUE BOI�,'D COVERAGE
t..ast Ten Years
Ratzo of Net
Debt Service Revenue to
Principal Interest Total Delat Service
13, 000 43, 316 56, 316 7. 1 to 1
38, 000 42, 796 80, 796 3. 7 to 1
38 000 41, 305 79. 305 6. 1 to 1
38, 000 39, 816 77, 816 5. 0 to 1
38, 000 38, 350 76, 350 5. 9 to 1
40, 000 36, 775 76, 775 6. 4 to 1
45, 000 35, 200 80, 200 8. 2 to 1
45, 000 34, 300 79, 30Q 7. 3 to 1
30, o00 3 i, 767 61, 76� 5. 2 to i
30, 000 30, 525 60, 525 11. 75 to 1
1
1
_1�7_
Schedule XIII
Citv of Brooklvn Gentex
MISCELLANEOUS STATTSTICAL FACT5
Decex�nber 31, 1973
Date of Incorporatipra February 14, 1911
Date of Adoption of City Charter iVovembex 8, 1966
Effective December 8, 1966
Form of Government Council Manager
Fiscal Year Begins January 1
Area of City 8 1/2 square miles
Ni1es of Streets:
City 97. 94
State 12 3 8
County 5. 82
Miles of Storm Sewers 36.90
Number of 5treet Lights 825
Building Permits:
Num.ber of Permits Issued:
1973 390
1972 708
1971 425
1970 404
1969 460
1968 544
1967 493
1966 430
1965 465
1950 1964 inclusive 9, 452
Estimated Cost;
1973 5,110,140
1972 $19,907.041
1971 8,487,763
1970 7, 499, 386
1969 0, 441, 322
1968 $13,111,654
1967 7,922,813
19b6 7,261,065
1965 $12,046,272
1950 1964 inclusive $94, 362, 2q8
Fire Protection:
Number of Stations 2
Number of Volunteer Firemen 40
Police Protection:
Number of Stations 1
Number of Employees 35
Vehicle Patrol Uni�s
-108-
Schedule XIII
C ont' d
City af $rooklvn Center
MISCELLANEOUS STATISTICAL FAGTS
December 31, 1973
Parks and Recreation:
acres developed for regular use. 200 additional acres of City-
owned land desi.gnated for parks and playgraunds to be develop�d.
Full-time employe e s 14
Part-time employees 350 (seasonal)
Supe rvi s ed playg round s 17
Park shelters 1?
Ice skating rinks 17
Hockey xinks 6
Softball diaznonds �6
Baseball diamonds 5
Wading pools 2
Tennis courts 10
Basketball courts 6
Education:
Public 5chools:
School Districts within Brooklyn Center (4)
No. 11 No. 286 No. 281 No. 279
(Anoka) (Earle Brown) (Robbinsdal.e) Qsseo
Total school buildings 32 2 27 17
School buildings under
construction 2
School buildings within
Brooklyn Center 1 2 1 3
Total students
registerEd 31, 339 2, 353 25, 610 13, 673
Students from Brooklyn
Center registered 1, 541 2, 353 1, 630 4, 946
Total square miles in
School District 172 2. 8 30 66 5
5quare miles within
Brooklyn Center 1. 5 2. 8 2.25 2. 5
1973 assessed
valuation 225, 578, 058 26, 467, 8�7 327, Q23, 247 121, 851, 330
1973 assessed
valuation in
Brooklyn Center 11, 879 556 26, 467, 847 29, 983, 346 28, 609, 716
Parochial Schools (1)
St. Alphonsus 5chool (grades 4-8) Total students registered 240
-109-
Schedule XTII
�ont'd
City of B rooklvn Cente r
MISCELLANEOUS 5TATI5TIG�,L FACTS
December 31, 1973
Municipal Water Plar�t:
Number of connections 6, 715
Average daily consumption 3, 02Q, 465 gall.ons
Peak daily consumptian 8, 945, 000 gal�ans
Plant capacity daily 12, 384, 000 gallvns
Miles of water mains 1Q2. �4273
Numbe r of fi re hyd rants 752
Number of wells 7
Number of elevated reservoirs 2
Storage capacity 1, 500, 000 gallons
Water rate per thousand gallons 35�
Municipal Sewe r Plant:
Number of connections 7, $04
Miles of sanitary sewer 96, 4125
Average daily disposal 2, 790, 000 gallons
Daily disposal capacity 7, 416, 000 gallons
Numbe r of lift stations 9
Residential rate $8. 75 per quaxter
Municipal Liquor Stores (Off Sale);
Number of owned stores 1
Number of leased stores 2
1973 sales $1,46$, l,3$,00
City Employees:
As of December 31, 197�
Permanent or regular 108
Temporary or part-time 130
Total �38
Elections:
General election 1972 19, 142
Number of votes cast in general election 14, $07
Percentage of registered voters voting 77, 4%
Registered voters last state election 15, 0$0
Number of votes cast last s�ate e�.�ction 10 96�
Percentage of registered voters voting �2, 7�
Population:
1940 1,870
1950 284
1960 24,356
1965 (special census) 30, 108
1970 35, 173
1973 37,207
Estimated residential saturation point 49, 000
-11Q-