HomeMy WebLinkAboutAnnual Audited Financial Report-1972 ANNUAL
AUDITED FINANCIAL REPORT
of the
CITY MANAGER
of
BROOKLYN CENTER, MINNESOTA
For The Year Ended December 31, 1972
I DONALD G. POSS, CITY MANAGER
1
1
Prepared by
THE DEPARTMENT Of FINANCE
Paul W. Holmlund, Direttor
(Member of Municipal Finance Officers
Associotion of the United States and Canada)
Citv of Brooklyn Center
ANNUAL FINANCIAL REPORT
For the Year Ended December 31, 1972
TABLE OF CONTENTS
Exhibit Page
Number Number
Certificate of Conformance 1, 2
Listing of City Officials 3, 4
Organization Chart 5
Location of City Properties 6
Letter of T ransmittal
1 General Comments 8, 9, 10, 11, 12, 13
Financial Statements 5ection
Audito r' s Repo rt 14
Combined Balance Sheet All Funds and Account
Groups (Condensed Form) December 31, 1972 1 15, 16
General Fund Statements
Balance Sheet (Comparative) December 31, 1972
and 1971 2 17
Statement of Changes in Fund Balance
(Comparative) Years Ended December 31,
1972 and 1971 3 18
r Statement of Revenues, Appropriations from
Fund Balance, Expenditures, Encumbrances
and Transfers Years Ended December 31,
1972 and 1971 4 19
Statement of Revenue Budget and Actual
Objective Classification Year 1972 Sched. 4-A 2�, 21
Statement of Expenditures and Encumbrances
Budget and Actual Classified as to Activity,
Character and Object Year 1972 5ched. 4-I3 22, 23, 24, 25
C ity of B rooklvn C ente r
ANNUAL FINANCIAL REPORT
For the Year Ended December 31, 1972
TABLE OF CONTENTS
Exhibit Page
Numbe r Nurnbe r
Special Revenue Funds 5tatements
Combined Balance Sheet (Comparative),
December 31, 1972 and 1971 5 26, 27
Cornbined Analysis of Changes in Fund
Balance Years 1972 and 1971 6 28, 29
Combined Staterr� nt of Revenue and Expenditures
(Comparative) -Years 1972 and 1971 7 30, 31
Capital Prajects Fund Staternents
�ombined Balance Sheet (Compaxative)
December 31, 1972 and 1971 8 32, 33
Combined Statement of Appropriations and
Expenditures Years 1972 and 1971 9 34, 35
Debt Service Funds Statements
Cornbined Balance 5heet (Comparative)
December 31, 1972 and 1971 10 36, 37
Combined 5tatement of Revenue, Expenditures
and Surplus Years 1972 and 1971 11 38, 39
Special Assessment Funds Stater�ents
Combined Balance Sheet (Comparat:ive)
December 31, 1972 and 1971 12 40, 41 r
Combined Statement of Revenue, Expenditures
and Unappropriated Surplus for Debt Retire-
ment (Comparative) Years 1972 and 1971 13 42, 43
Statement of Construction Expenditures, Compared
to Appropriations and Assessment of Costs
Year 1972 14 44, 45, 46
Citv of Brooklyn Center
r ANNUAL FINANCIAL R.EPORT
For the Year Ended December 31, 1972
TABLE OF CONTENT5
Exhibit Page
Numbe r Numbe r
Special Assessment Funds Statements, Cont'd
Statement of Long-Term Debt (Principal Ampunt
Outstanding) December 31, 1972 15 47, 48
Public Service and Enterprise Funds Statements
Municipal Liquor Fund
Balance Sheet (Comparative December 3�,
1 1972 and 1971 16 49 50
Analysis of Changes in Surplus (Comparative)
Years 1972 and 1971 17 51
Statement of Changes in Financial Position
(Comparative) Years 1972 and 1971 18 52
5tatement of Income and Expense (Comparative)
Years 1972 and 1971 19 53, 54
Public Utilities Fund
Comparative Balance Sheet Decembe r 31
1972 and 1971 20 55, 56
Comparative Statement of Changes in
F:inancial Position Years 1972 and 1971 21 57
Comparative Statement of Ope rations and
Retained Earnings Year 1972 and 1971 22 58
Comparative Water Department Uperating
Expenses Years 1972 and 1971 23 59, 60
Comparative Sewer Department Operating
Expenses Years 1972 and 1971 24 61, 62
Summary Statement of Plant and Property and
Provisions for De�reciation December 31,
1972 25 63, 64
Statement of Revenue Bonds Payable
December 31, 1972 26 65, 66
City of Brooklyn Center
ANNUAL FINANCIAL REPORT
For the Year Ended December 31> 1972
TABLE OF CONTENTS
Exhibit Pa ge
Numbe r Numbe r
Public Service and Enterprise Funds Statements, Cont'd
Transit Fund
Balance Sheet (Comparative) December 31,
1972 and 1971 27 67
Combined Statement of Revenue, Expend.itures
and Surplus (Comparative) Years 1972
and 1971 28 68
Trust and A�ency Funds Statements
Combined Balance Sheet (Comparative)
December 31, 1972 and 1971 29 69, 70
Combined Statement of Revenue, Ex enditures
P
and Fund Balance (Comparative) Years
1972 and 1971 30 71, 72
Inve stment T ru st Fund
Balance Sheet (Comparative) December 31,
1972 and 1971 31 73, 74
5tatement of Earnings (Comparative) Years
1972 and 1971 32 75
Changes in Participating Fund Balances
Year 1972 33 76
General Fixed Assets and General Lon�-Term Debt
Summar Statement of General Fixed Assets
Y
December 31, 1972 34 77, 78
Summary Statement of Gene ral Long- Te rm
Debt and Interest (Comparative)
December 31, 1972 and 1971 35 79
Schedule of General Long-Term Debt and
Interest by Maturities December 31, 1972 36 80, 81
City of Brooklyn Center
ANNUAL FINANCIAL REPORT
For the Year Ended Decembe r 31 1972
t TABLE OF CONTENTS
Page
Numbe r
Notes to Financial Statements
No�e T All Funds 82
Note 2 All Funds 82
Note 3 5pecial Assessment Funds 83
Note 4 Municipal Liquor Fund 83
Note 5 Public Uta.litie s Fund 84, 8 5
Note 6 Public Utilities Fund 85, 86
Note 7 Public Utilities Fund 86, 87
Note 8 Summary Statement of General Lon�-Term
Debt and Interest 87
Citv of Brooklyn Center
ANNUAL FINANCIAL REPORT
For the Year Ended December 31, 1972
TABLE OF CONTENT5
Pa ge
Schedule Numbe r
Statistical Information 5ection
Assessed Value and Estimated True Value and
Market Value of All Taxable Property by
Budge� Years I 88, 89
Tax Ra�es and Tax Levies
Years 1954 Through 1973 II 90, 91
Note s to Tax Rate s and Tax Levies
Years 19 `�4 Through 1973 III 92
Tax Levies and Tax Collections
Last Ten Years IV 9�, 94
Special Assessments Collections
Last Twelve Years V 95, 96
Revenues Other Than Property Taxes and
Special Assessments
Last Ten Years VI 9'7, 98
Expenditures for Selected Functions
Last Ten Years VII 99
Ratio of Net Bonded Debt to Assessed Value and
Net Bonded Debt Per Capita
Last Eleven Years VIII 100, 101
Statexnent of Legal Debt Margin, December 31,
1972 IX 102
Computation of Direct and Overla in Debt
PP g
December 31, 1972 X 103
Ratio of Annual Debt Service Ex enditures for
P
General Bonded Debt to Total General
Expenditures Last Ten Years XI 104, 105
Schedule of Revenue Bond Coverage
Last Ten Years XII 106, 107
Miscellaneous 5tatistical Facts
December 31, 1972 X�TI 1Q8, 109, 110
THE MUNICIPAL FINANCE OFFICERS ASSOCIATION
OF THE UNITED STATES AND CANADA
dc�fic�c t�j�
TH£ ANNUAL FINANCIAL REPORT OF
`-1��e Cit of Brookl n enter .Minnes ta
y C
�or the Year. �nded December 31, �966
SUBSTANTIALLY CONFORMS �TO THE PRINCIPLES AND STANDARDS OF
PUBLIC FINANCIAL REPORTING AS PROMULGATED BY THE
f�unici�ai ,�inattcc �ffucrg S�ggociation
AND TNE
�atfoaar �Conttnitttt o� iobtrnmtnta�. �uount[ng
Presenced September 1�j, 1y67. C�rinwo�, Co�tswnes os Accasw�ia�
I
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Es«Niss Dinca►
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CIT Y OF BROOKLYN CENTER, MINNE50TA
CERTIFICATE OF CONFORMANCE
(Jn September 19, 1967, the MUNICiPAL FINAI�CE OFFiCER� A5SOCIATION 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, 19b6 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
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, 1972 continues
to conform substantially to such standards.
DEPARTMENT OF FINANCE
CITY OF BROOKLYN CENTER
Ci�y qf Broo�Clvn Center
LISTING OF CITY OFFICIALS
For the Year Ended December 31, 197?
Elected Officials
Term of Office Term Expires
Mayor Philip Cohen Two Years 12-31-73
Councilman Howard Heck Three Years 12-3I-72
Councilman John Leary Three Years 12-31-73
Couneilman Vernon Ausen Three Years 12-31-72
Cpuncilxnan Maurice Britts Three Years 12-31-74
Officials Not Elected
C ity Manag� r ponald G. Po s s
City Clsrk Allen S. Lindman
C�ty T re�.sure r Pau1 W. Holmlund
City Attorr�ey Richard Schieffer
Adr�,iM�,�txativE Assistant A. Blair Tremere
Adrnlnistrative Assistant Daniel Hartman
Departmer�t Heads:
Finance Paul W Holmlund
Public Works James Merila
Police Thomas G. O'Heh.ir
Fire Donald Mason
Protective Inspection Jean R. Murphey
FarkS and Recreation Eugene Hagel
Assessment John Nordberg
Liquor Stores Truman Nelson
Street Superint�ndent Henry Davis
Public Utilities SuperiMtendent Frank Smith, Jr.
Recreation Superintendent Arnold Mavis
Ass�stant City Engineer Gerald Butcher
Health Officer R. I, Shragg, M. D.
Fire Marshall Robert Cashman
Sanitarian Martin W:inston
1
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Citv of Brooklyn Center
I.�I5TING OF CITY OFFICIALS
At June 30, 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 Maurxce Britts Three Years 12-31-74
Councilman Tony Kuefler Three Years 12-31-75
Councilman Bill Fignar Three Years 12-31-75
Officials Not Elected
City Manager ponald G, Poss
City Clerl� Allen S. Lindman
City Treasurer Paul W. Holmlund
City Attorney Richard Schieffer
Administrative Assistant, Daniel Hartman
Departxnent Heads;
Finance Paul W. Holmlund
Public Works James Merila
Police Thomas G. O'Hehir
Fire Donald Mason
Pratectzve Inspection A. Blair Tremere
Parks and Recreation Eugene Hagel
As se s srnent John No rdbe rg
Liquor 5tores Truman Nelson
Street Superintendent Henry Davis
Public Utilities Supe rintendent F rank Smith, J r,
Recreation Superintendent Arnold Mavis
Health Officer R. I, Shragg, M. D,
Fire Marshall Donald Mason
Sanitarian Martin Winston
Civil Defense Coordinator James Lindsay
-4-
ORGANIZATION CHART
COUNCIL MAI�TAGER PLAN
City of Brooklyn Center, Minnesota
CHARTER CQMMISSION ELECTORATE
ADVISORY
Capital Improvement Review Bd.
ADVISORY CITY COUNCIL
Conservation Commission
ADVISORY
Human Rights Commission CITY ATTORNEY
�i
ADVISORY City Manager Administrative Aasistant
Youth Advisor Commission
Y City CJ_erk
Purchasing Officer
ADVISORY
v� Park and Recreation Commission
ADVISORY
Administrative Assistants
Planning Commission
i Civil
Defense
il 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
Engineer
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P�.trol Administrative Detective Engineering Street Public
Division Division Division Division Division Utilities I
Division
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C OF Y ADMINISTRATIVE OFFICE
OOKLYN 6301 SHINGLE CREEK PARKWAY
BROOKLYN CENTER, MINNESOTA 55430
�i C ENTI,JR, TELEPHONE 561-5440
nniNNeaPO�.is juriE 30 I973
To the Mayor and Council
City of Brooklyn Center, Minnesota
Gentlemen:
Sectior� 7. 12 of the City Charter requires the City Manager
tp sub.'nit an audited report to the Council covering the entire
financial o erations of the City for the p�st year on or before the
P
last day of June. A summary of that report shall be published in
the official city newspaper on or b�fore July 31 of each year.
The annual audite� financial report of the City for the year
ended pecemb�r 31, 1972, prepared by the Department of Finance
under my general supervision, is submitted for your consideration.
The summary of the rep�rt will be published in the Brooklyn Center
Post on July 26, 1973. e
,,,.-�R"espl ctfully su �t�e�,
,r `7
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__�;;,-/�!-�?-o%
Donald G. Poss
City Manager
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��u� faz �l�
City of Brooklyn Center
GENERAL COMMENTS
Organization
Brooklyn Center was incorporated as a Village on February 14, 1911,
and becaxne 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 l.arge. 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
rovide such information about the finances of the City as the Council may
P
require.
The offices of City Clerk and City Treasurer are subordinate to and
a ointcd b the Cit Mana er. The Cit Clerk has duties in connection with
PP Y Y g Y
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
i 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.
i
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City of Brooklyn Center
GENERAL CONTMENTS
Financial Control and the Bud�et
The City Gharter 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 budget as
specified in the budget resolution. Upon adoption of the annual budget
resolution b the Council it becomes the formal bud et for Ci
y g ty operations.
After the budget resolu�ion is adopted, the Council can increase the budget
only if actual receipts exceed the estimates or from accumulated surplus
in the amount of an unexpended appropriation £rom the previous fiscal year.
Financial reports, which compare actual performance with the budget
are prepared monthly and presented to the Counci,l 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 comxnercial 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 1972 follows:
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City of Brooklyn Center
GENERAL COMMENTS
Financial Control, Cont'd
Proposed Expenditures (Public Service Enterprises Excluded)
City operations (General Fund) $2, 060, 522
Debt Redemption Fund 236, 100
Public Employees' Retirement Fund 70, 000
Policemen's Pension Fund 58, 923
Poor Relief Fund 37, OOfJ
Firemen's Relief Association 32, 038
E ur s
Total Proposed xnendit e $2, 494. 583
i
Proposed Source of Financin�
T'axation see summary of taxation presented below) $1, 194; 209
Shared taxes state and federal) 599 199
Governmental grants 6, 000
Civil Defense reimbursements 4, 567
Local revenue s:
Recreation fees $178, 503
Liquor stores 155, 000
Permits, penalties, licenses and
fine s 152, 700
Service and other revenues 48, 000
Engineering and clerical fees 30, 000
Services to public utilities 10, 600
Rent 7, 000 581, 803
Fund Transfe rs:
General £und transfers 81, 407
Liquor fund transfers 27, 398 108, 805
Total Proposed Financin� $2, 494, 583
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CitV of Brooklyn Center
GENERAL COMMENTS
Financial Control, Cont'd
Ad valorem tax levies for the current year 1972 and for the two previous
years (1971 and 1970) are summarized and presented below:
1 9 7 2 1 9 7 1 I q 7 0
Mill Rate Amount Mill Rate Amount Mill Rate Amount
Tax Levy
City operations 27. 94 775, 848 29. 61 821, 662 25. 98 581, 897
Debt redemption
funds 7, 94 220, 400 7. 50 208, 174 12. 72 284, 733
Public employee s'
retirement fund 2, 53 70, 000 2. 58 71, 500 00 67, 000
Policemeris pension
fund 2. 13 58, 923 2. 43 67, 600 2. 73 61, 000
Poor relief fund 1. 34 37, 000 49 13, 500 36 8, 000
Firemen's relief
association 1. 16 32, 038 1. 50 41, 596 1. 95 43, 496
Capital projects
fund 2.91 65,000
Total Levy 43. 04 $1, 194, 209 44. 11 $1, 224, 032 49. 65 $l, 111, 126
1972 1971 1970
Assessed Valuation
Real estate $26, 456, 957 $25, 971, 942 $20, 639, 880
Non- exempt pe r s onal
property l, 313, 422 1, 281, 552 1, 303, 029
Exempt personal
property 306, 708 306, 708
Total Assessed
Valuation $27, 770, 379 $27, 560, 202 $22, 249, 617
The omnibus tax law of 1971 elixninated the replacement tax based on
exempted personal property. For this reason exempted personal property is
not shown for 1972 in the above summary of assessed valuation.
The financial condition of each fund as of December 31, 1972 a.nd the results
of each fund's o erat:ions for the ear to ether with a com arison of these results
P Y g P
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CitY of B rooklvn C ente r
GENERAL COMMENTS
Financial Control, Cont'd
to budget estimates 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, Deputy Assessor, Liquor Store Manager, and
Assistant Manager. In addition, the City is covered by an Honesty Blanket
Fosa:tion Bond on all other r.ity employees.
Gene ral Ope rations
The City, in addition to the usual activities such as: general
govez�nment, public safety and welfare, highways, recreation and parks;
o erates three off-sale 1i uor stores and ublic sewer and water utilities.
R q p
N�t revenues produced in excess of working capital requirexnents by
municipal liquor store operations have been used toward� financing current
ex ense and ca ital outla ro ra s of the Ci General Fund
p P Y P g� tY
The net revenues of the sewer and water utilities have been retained
withian 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 grqups or funds as required by statute and/or good accoun�ing practice.
Except �or minor variances, all funds are maintained 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�.
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Cit of Brookl n Center
V V
GENERAL COMMENTS
Accounting System, Cont'd
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 Villa�es 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 s�ssociation 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 xnaintaining internal control,
and preparing financial and budgetary reports is delegated to this department.
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F I N A N C I A L
S T A T E M E N T S
5 E C T I O N
4
MOEN AND PENTTILA
CERTIFIEDPUBLICACCOUNTANTS
SUITE 203 VALLEY SOUTH BUILDING
MeMeER oF 69'30 WAYZATA BOULEVARD 812 546•3306
AMERICAN INSTITUTE OF ACCOUNTANTS MINNEAPOLIS. MINNESOTA 55426
Honorable City Council
City of Brooklyn Center
We have examined the financial statements and su lementar
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schedules of the various funds and account groups of the City of
Brooklyn Center for the year ended December 31, 1972 as listed in
the foregoing table of contents. Our examination was made in accordance
with generally accepted auditing standards, and accordingly, included
such tests of the accounting records and such other auditing procedures
as we considered necessary in the circumstances.
In our opinion, such financial statements and related supplementary
schedules present fairly the financial position of the various funds and
account groups of the City of Brooklyn Center at December 31, 1972, 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.
Res ectful ubmitted
P
�,�va.� �.����-a-'
Oiva Penttila
Certified Public Accountant
MOEN PENTTILA
Field work completed July 6, 1973
Report signed June 29, 1973 -14-
C ombined
Total
Note 2
Assets and Resources
Cash on hand and in depositories 152, 153
Temporary investments 5, 787, 322
Accounts receivable 124, 149
Taxes receivable 80, 036
Due from other funds b92� 905
Due from other governmental units 120, 444
Inventories and supplies 182, 862
Work orders /construction in progress 8, 298
Contracts receivable 72, 753
Accrued revenue 234,143
Receivable appropriated funds 303, 747
Monies on deposit State of Minnesota 53, 925
Special a.ssessment receivables 5, 121, 702
Securiti�s held for investments 5, 495 999
Prepaid expenses and deferred charges 65, 550
Fixed assets (net of depreciation where applicable) 23, 656, 920 r
Unassessed construction 443, 119
Amount available gene ra1 debt and inte re st 99 62 6
Amount to be provided general debt and interest 5, 794, 570
Uncollected dedicated funds 89, 000
Totals $48, 579, 223
Liabilitie s
Vouchers and accounts payable 167, 570
Accrued sales tax 6 499
Accrued expenses 105, 383
Contracts payable 151, 193
Assessments payable 293, 537
Due to other funds 692, 905
Temporary construction loans 1, 132, 000
Bonds payable 9, 291, 000
Customer and contractor deposits 294 997
Due funds participating in investment trust fund 5, 434, 728
Interest payable in future years (general debt) 2, 085 659
Total Liabilities $19, 655, 471
Surplus, Reserves and Fund Balances
Surplus and revenues set aside 2, 415, 605
Contributed surplus 9, 549, 516
Investment in general fixed assets 13, 289, 244
Unexpended appropriations, authorizations and balances 3 669 387
Total Surplus, Reserves and Fund Balances $28, 923, 752
Totals $48. 579, 223
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C ity of B rooklvn Cente r Exhibit 1
COMBINED BALANCE 5HEET ALL FUND5 AND ACCOUNT GROUP5 (CONDENSED FORM)
December 31, 1972
Special Capital Debt Special Municipal Public General General Debt
General Revenue Projects Service Assessment Liquor Utilities Transit Agency Investment Fixed Assets and
Fund Funds Funds Funds Funds Fund Fund Fund Funds Trust Fund Group Interest Group
Exhibit 2) Exhibit 5� Exhibit 8) Exhibit 10) Exhibit 12 Exhibit 16) Exhibit 2 0) Exhibit 2 7) Exhibit 29 Exhibit 31 Exhibit 34) Fxhibit 3 5)
45, 953 19 2, 081) 318 4, 662 41, 851 13, 376 -0- 30, 460 17, 595 il
63, 414 163, 574 1, 686, 504 80, 283 1, 840, 500 1, 446 1, 532, 487 -0- 419, 114
7, 677 27 149 2, 929 86 394
53 956 1, 475 1, 931 12, 786 9, 888
200,209 20,029 6 ,239, 269 ,072 2,071 191,830 3,455
4, 733 87, 525 2 8, 186
t 12, 794 170,_068 I
8, 298
72, 753
3, 638 69, 069 5, 551 155, $85
303, 747
53, 925
5, 033, 902 87, 800
187,176 5,308,823
33, 280 3, 420 28, 850
34,409 10,333,267 $13,289,244
443, 119
99, 626
5 794, �70
89,000
$3q7, 034 $241, 459 $1, 936, 833 99, 626 $7, 651, 684 $256, 194 $12, 862, 182 -0- $468, 468 $5, 482, 303 $13, 289, 244 $5, 894, 196
81,074 1,120 3,371 43 59,142 13,834 8,986
6, 499
98,043 3,210 4,130
77, 512 71, 332 2, 349
293, 537
14,129 -0- 314,579 237,494 110,128 13,860 2,715
1,132,000
4, 991, 000 785, 000 3, 515, 000
247,422 47,575
5, 434, 728
2,085,659
95, 203 1, 120 395, 462 $6, 529, 912 $178 979 $l, 066, 595 -Q- 11, 701 $5, 482, 303 $5, 894, 196
i
$�1, 410 221, 802 58, 257 $2, 114, 136
9,549,516
$13, 289, 244
280, 421 �$240, 339 1, 319, 569 99, 626 1, 063, 515 77, 215 131, 935 $456, 767
$301, 831 $240, 339 $1. 541, 371 99, 626 $1, 121, 772 77, 215 $11, 795, 587 -0- $45b, 767 $13, 289, 244
$39�34_ $�59 $1. 93f��3 �_94- 65�R4 notes f nanc al stateme ts) �46£�_ 46� ,�5• 482- 3O3 $13• 2��iq_2� �5• 89�4. l�f�
This statement is an integral part of report dated July 6, 1973. -16-
Citv of B rooklvn C ente r Exhibit 2
General Fund
BALANCE SHEET (CO1vIPARATIVE)
December 31, 1972 and 1971
December 31,
ASSETS 1972 1971
Assets
Cash on hand and in depositories 45, 953 36 990
Temporary investments 63, 414 114, 070
Accounts receivable 7, 677 3, 462
Taxes receivable 53, 956 97, 930
Due from other funds 200, 209 135, 849
Due from other governmental units 4, 733 9, ?00
Inventory of supplies 12, 794 10, 216
Work orders in progress to be billed 8, 298 503
Expenditures deferred to 1972 budget 2, 073
Total $397 03 4 $410, 793
LIABILITIES, RESERVES AND FUND BALANCE
Liabilitie s
Vouchers payable 64, 254 59, 296
Payroll taxes and employee withholdings 16, 820 27, 737
Due to other funds 14, 129 16, 114
Total Liabilities 95, 203 $103, 147
Reserves
Reserve for encumbrances 8, 086 7, 006
Reserve for inventories, petty cash and
change funds 13, 324 10, 736
Total Reserves 21, 410 17, 742
Fund Balance
Appropriated 33, 497 8I, 407
Available for appropriation 246, 924 208, 497
Total Fund Balance (5ee Exhibit 3) $280, 421 $289� 904
Total $397, 034 $410, 793
(See notes to financial statements)
This statement is an integral part of report dated July 6, 1973
1 -17-
Exhibit 3
City�of Brooklyn Center
General Fund
STATEMENT OF CHANGES IN FUND BALANCE (COMPAR.�ITIVE1
For Years Ended December 31, 1972 1971
Actual Actual
1972 1971
Fund Balance January 1 $289, 904 $465, 755
Add: Revenue (See Exhibit 4) $1, 840, 308 $1, 660, 710
Transfers in (See Exhibit 4) 182, 398 203, 521
Decrease in reserves for
inventory and change funds 2 467
Total Additions $2, 022, ?06 $1, 866, $98
D�duct: Expenditures and encumbrances
(5ee Exhibit 4j $2, 026, 690 $2, 026, 309
Transfers out (See Exhibit 4) 2 911 16 440
Increase in reserves ,for inventory
and change funds 2, 588
Total Deductions $2, 032, 189 $2, 042, 749
Fund Balance December 31 (To Exhibit 2) 280, 421 289, 904
(See notes to financial statements)
This statement is an integral part of report dated July 6, 1973. t
-18-
Exhibit 4
Citv of Brooklyn Center
General Fund
STATEMENT OF REVENUES, APPROPRIATIONS FROM FUND BALANCE,
EXPENDITURES, ENCUMBRANCES AND TRANSFERS
For Years Ended December 31, 1972 and 1971
1972 1972 Over(Under) Actual Prior
Fihal Bud�et Actual Bud�et Year
Revenues (See 5chedule 4-A)
Taxes advalorem 786, 348 793, 375 7, 027 853, 584
Shared taxes 599, 199 612, 277 13, 078 414, 936
Charges for services 194, 603 201, 026 6, 423 153, 443
Inter-Fund charges 40, 600 54, 957 14, 557 78, 153
Licenses and permits 82, 200 110, 455 28, 255 67, 837
Court fines 60, 000 37, 172 22, 828) 53, 638
Other income 49, 555 31, 046 18, 509) 39, 119
Total Revenues $1, 812, 505 $1, 840,3Q8 27, 803
$1, 660, 710
Transfers from other funds 182, 398 182, 398 203, 521
Appropriations from fund
balance 81, 407 81, 407 259� 349
Total $2, 076, :330 $2, 104,11 3 z7,803 $2, 123, 580
Expenditures and Encumbrances
(See 5chedule 4-E)
General government 496, 755 496, 377 378) 444, 061
Public safety and welfare 587, 704 561, 100 26, 604) 624, 455
Highways, streets and walks 490, 831 463, 321 27, 510) 452, 245
Health 29, 459 27, 507 1, 952) 23, 694
Parks and recreation 468, 650 478, 385 9, 735 481, 854
Total Expenditures and
Encumbrances $2, 073 399 $2, 026 690 46-709) $2, 026, 309
Transfers to other funds 2, 911 2, 911 16, 440
Total Expenditures,
Encumbrances and
Transfers $2, 076, 310 $2, 029, 601 46, 709) $2, 042, 749
Excess (deficiency) of revenues
and transfers and appropriations
from fund balance over expenditures,
t encumbrances and transfers
74, 512 74, 512 80, 831
(See notes to financial statements)
This statement is an integral part of report dated July 6, 1973.
-19-
Schedule
City of Brooklyn Center 4-A
General Fund
5TATEMENT OF REVENUE BUDGET AND ACTUAL
OBJECTIVE CLASSIFICATION
Year 1972
Final 1972 Ove r( Under)
Bud�et Actual Bud�et
Taxe s- Ad Valo rem
Real estate and personal property
taxes $775,848 $775,904 56
Penalties and interest on tax bills 10, 500 17, 471 6, 971
Total Taxes -Ad Valorem $786, 348 $793, 375 7, 027
Shared Taxes
Sales $461,699 $468,664 6,965
Gigarette 72, 000 65, 774 6, 226) l
Liquor 60,000 58,387 1,613)
Mortgage registry 5, 000 18, 989 13, 989
Bank excise 500 460 40)
Other (mobile home, etc. 3 3
Total Shared Taxes $599 199 $612, 277 13, 078
Char�es For Services
Recreation $190, 503 $193 639 3, 136
5ale of maps 1, 700 2, 117 417
Zoning and platting fee s 900 1, 817 917
Burglar alarm se rvice 1, 680 Z, 680
Fire alarm service 1, 242 1, 242
Weed cutting 1, 500 501 999)
Other 30 30
Total Char�es For Services $194, 603 $201, 026 6, 423
In�er-Fund Char�es
Engineering. clerical and labor 30, 000 35, 681 5, 681
Public utilities rent and administration) 10, 600 17, 516 6, 916
Total Inter�overnmental Char�es 40, 600 53, 197 12, 597
Licenses and Permits 82, 200
Building pe rmits 51, 8 59
Malt license 18, 796
Electrical permits 1 I, OI3
Plumbing permits 7, 141
Heating permits 5, 795
Sewer and water permits 2, 980
Food license 2, 008
Dog permits 2, 000
-20-
Citv of Brooklvn Center 5chedule �4-A
General Fund Cont'd
STATEMENT OF R.EVENUE BUDGET AND ACTUAL
OBJECTIVE CLASSIFICATION
Year 1972
Final 19 72 Ove r( Unde r)
Budget Actual Bud�et
Licenses and Permits, Cont'd
Bicycle license s 1, 474
Miscellaneous business licenses 1, 236
Vehicle license 1, 131
Heating license 960
Cigarette license 919
Swimming pool license 910
Garbage license 637
Service station license 631
Gas piping license 299
Bowling alley license 268
Occupancy perrnits 261
All other licenses permits 137
1 Total Licenses and Permits 82, 200 $110, 455 28, 255
Court Fines
Costs and fees 60, 000 37, 172 22, 828)
Other Income
Rental of property 7, 000 12, 921 5, 921
Grants 8, 000 3, 534 4, 466)
Civil defense reimbursements 4, 567 3, 432 1, 135)
Refunds and reimbursements 2, 000 3, 397 1, 397
Interest on temporary investments 25, 000 3, 057 21, 943)
Miscellaneous 500 2, 576 2, 076
Gifts private sources 1, 788 1, 788
Police towing charges 700 341 359)
Total Other Incorne 49, 555 31, 046 18, 509)
Transfers In
Municipal Liquor Fund $182, 398 $182, 398
Total Revenue and Transfers In $1 994 903 $2, 020 946 26, 043
1 (See notes to financial statements)
This statement is an integral part of report dated July 6, 1973.
-21-
1972 Over
Final 1972 (Under) Prior
Bud�et Actual Bud�et Year
General Government
Mayor and Council 25, 746 22, 594 3, 152) 45, 710
Elections and registration 7, 032 024 8) 8, 729
Finance Administrative offices 174, 252 172, 589 1, 663) 165, 904
Assessor's office 42, 357 43, 340 983 41, 070
Accounting internal
audit 48, 026 47, O10 1, O16) 41, 035
Independent audit 8, 600 8, 544 56) 8, 337
Legal 29, 308 28, 195 1, 113) 29, 131
Charter commission 500 135 365) -0-
General government buildings 160, 934 166, 946 6, 012 104, 145
Total General Government $496, 755 $496, 377 378) $444, 061
Public Safetv and Welfare
Police protection $474, 918 $460, 984 13, 934) $458, 722
Fire protection 39, 781 38, 147 1, 634) 92, 688
Protective inspection 51, 653 48, 063 3, 590) 52, 093
Civi1 defense 9, 352 4, 846 4, 506) 8, 970
Animal control 8, 500 7, 718 782) 8, 768
Weed eradication 3, 500 1, 342 2, 158) 742
Library building 2, 472
Total Public Safetv Welfare$587, 704 $561, 100 26, 604) $624, 455
Hi�hways, Streets and Walks
Engineering department $118, 747 $11Q, 611 8, 136) $122, 186
Street department 262, 234 245, 283 16, 951) 231, 627
Maintenance shop 61, 050 58, 915 2, 135) 53, 130
Street lighting 48, 800 48, 512 288) 45, 302 v
Total Hi�hwavs, Streets
and Walks $490, 831 $463, 321 27, 510) $�52, 245
Health
Health regulation and inspection 17, 500 15, 548 1, 952) 11, 890
Nursing service 11 959 11 959 11 804
Total Health 29, 459 27, 507 1, 952) 23, 694
-2�-
City of Brooklyn Center Schedule 4-B
General Fund
STATEMENT OF EXPENDITURES AND ENCUMBRANCES BUDGET AND ACTUAL
CLASSIFIED AS TO ACTIVITY, CHARACTER AND OBJECT
Year 1972
Classified By Character and Object Year 1972
Current Expenditures
Personal Contracted Capital
Service Service Commodities Other Outlays
17 4 1 5, 103
9
4, 410 1, 206 246 1, 112
86, 307 32, 054 10, 382 42, 431 1, 415
39, 683 1, 363 661 1, 633
i 38, 812 8, 198
8, 544
27, 362 699 134
13 122
75, 888 64, 280 16, 444 610 9 724
�289 966 $107 569 28 186 58, 405 12, 251
$425, 904 6, 826 8, 784 7, 967 11, 503
26, 652 2, 867 1, 407 856 6, 365
46,674 1,389
1, 948 1, 003 459 1, 436
7, 718
1,280 62
i $510, 176 10, 696 10, 650 11, 710 17, 868
$109, 291 915 297 108
194, 990 26, 779 2, 987 20, 527
2,031 47,109 9,144 631
48, 512
$304, 281 50, 543 74, 803 12, 428 21, 266
15, 548
11, 959
27, 507
l
i
-23-
1972 Ove r
Final 1972 (Under) Prior
Bud�et Actual Bud�et Year
Parks and Recreation 1
Supervision of recreation 184, 577 189, 311 4, 734 218, 224
Adult programs 26, 454 26, 344 106) 31, 337
Teens programs 17, 800 17, 559 241) 12, 455
Ghildrens programs 36, 545 33, 189 3, 356) 63, 981
Fall and winter sports 42, 800 42, 814 14 22, 385
Community Center 95, 058 98, 081 3, 023 61, 518
Park maintenance and
improvement 65, 420 7I, 087 5, 667 71, 954
To�al Parks and Recreation 468, 650 478, 385 9, 735 481, 854
Transfers to Other Funds 2, 911 2, 911 16, 440
Total Expenditures, Encumbrances
an.d Transfers Out $2, 076, 310 $2, 029, 601 46, 709) $2, 042, 749
(See notes to financial statements)
This statement is an integral part of report dated July 6, 1973.
-24-
Citv of Brooklvn Center 5chedule 4-B
General Fund Cont'd
STATEMENT OF EXPENDITURES AND ENCUMBRANCES BUDGET AND ACTUAL
CLASSIFIED A5 TO ACTIVITY, CHAR.ACTER AND OBJECT
Year 1972
Classified By Character and Object Year 1972
Current Expenditures
Personal Contracted Capital
Se rvice 5e rvic e Commoditie s Othe r Outlays
166, 582 6 664 5, 923 1, $15 8, 327
18, 377 7, 967
8, 658 8, 901
27, 880 5, 309
34, O11 8, 803
87, 963 10, 118
17, 668 19. 016 42 34, 361
343, 471 24, 332 66, 037 1, 857 42, 688
2, 911
$1, 475, 401 193, 140 179, 676 87, 311 94, 073
-25-
i
E
Pa rk
Poor Concessions
Fund Fund
AS5E TS
Gash on hand and in depositories 78 $(131) t
Tem,porary Investments 9, 097 53
Taxes Receivabie
Real estate and personal property:
Gurrent year's levy 1, 024
Pxior years' levy 451
Contract Receivable sale of library
Accrued interest receivable library
contract
Totals $10, 650 78)
LIABILITIES AND FUND BALANCE
Vouchers payable 1, 120
Due to other funds
Unappropriated fund balance (Ex',iibit 6) 9, 530 7$)
Totals $10, 650 78)
(See notes to financial statements)
This statement is an integral part of report dated July 6, 1973.
_26_
Exhibit 5
City of B rooklvn Cente r
Special Revenue Funds
COMBINED BALANCE SHEET (COMPARATIVE)
December 31, 1972 and 1971
Group Library Federal Combined Combined
T raining 5ale s Revenue Sha ring Decembe r 31, Decembe r 31,
Fund Fund Fund 1972 1971
1
$63 9 19 767
83, 028 $71", 396 163, 574 83, 715
1, 024 1, 252
4�1 253
72, 753 72, 753 79, 368
3,638 3,638 3,968
$63 $159,428 $71,396 $241,459 $169,323
1, 120 1, 026
10,929
$63 $159, 428 $71, 396 240, 339 157, 368
$63 $159,428 $71,396 $241,459 $169,323
Exhibit i
1
i
1
1
_27_
Park
Poor Concessions
Fund Fund
Unappropriated surplus,
Jaz�uary 1 9, 86$) 1, 46$
Add: Revenue (Exhibit 7) 37, 2$2 4, 008
Deduct: Expenditures and
encumbrances (Exhibit 7) 17, 884) 5, 554)
Unappropriated F'und Balance,
December 31 (Exhibit 5) 9, 534 78)
(See notes to financial statements)
This statement is an iritegral part of report dated July 6, 1973.
28
j Exhibit 6
City of B rooklyn C ente r
Special Revenue Funds
COMBINED ANALYSIS OF CHANGES IN FUND BALANCE (COMPARATTVE►
Years 1972 and 1971
Group L.ibrary Federal Combined Combined
T raining Sale s Revenue Sha rir�g Total Total
Fund Fund Fund 1972 1971
63 $165, 705 -0- $157, 368 $173, 746
-0- 9,423 71,396 122,109 28,165
1
-0- 15, 700) -0- 39, 138) 44, 543)
63 $159,428 71,396 $240,339 $157,3b8
1
t
1
-29-
Pa rk
Poor Concessions
Fund Fund
Revenue
General Property Tax special
ad valorem levy 37, 212
Interest earned on contracts recei�a.ble
Concessions receipts 3, 955
Interest earned on temporary
inve stments 70 53
Federal revenue sharing grant
Total Revenue (Exhibit 6) 37, 282 4, 00$
Expenditure s
Subsistence, care and support
payment 10, 278
Administrative charge 7, 604
Purchases for resale 4, 870
Purchases of equipment 684
Rent
Taxes written off 2
T:ransfers to other funds
Total Expenditures (Exhibit 6) 17, 884 5, 554
Excess �Deficiency) of Revenue Over
Expenditures 19, 398 1, 546)
(See notes to financial statements)
This statement is an integral part of report dated July 6, 1973.
-3 0
Exhibit 7
City of Brooklyn Center
Special Revenue Funds
COMBINED STATEMENT OF R.EVENUE5 AND EXPENDITURES (COMPARATIVEI
Years 1972 and 1971
Library Federal Combined Combined
Sales Revenue 5haring Total Total
Fund Fund 1972 1971
37,212 13,602
1 3, 638 3, 638 3, 968
3, 955 4, 265
5, 785 5, 908 6, 330
71,3q6 71,396 -0-
9,423 71,396 $122,109 28,165
10,278 14,563
7, 604 6, 047
4, 870 3, 878
684 1, 764
-0- 89
�2 102
15,700 15,700 18,100
15, 700 -0- 39, 138 44, 543
6, 277) 71, 396 82, 971 16, 378)
-31-
Certificates
Library of Indebtedness
Bonds #10
ASSE TS
Cash in bank 46
Taxes Receivable
Due from o�her funds
Temporary investments 2, 241 861
Due from other governmental agencies
Monie s on depo sit with the State qf Minne sota
Uncollected dedicated funds:
Special Assessment surpluses to be
transferred
Estimated revenue t
Totals 2, 287 861
LIABILITIES AND FUND BALANCE
Vouchers payable
Due to other funds
Contracts payable
Reserve for authorized expenditures (Exhibit 9)
Unappropriated fund balance (Exhibit 9) 2, 287 861
Totals 2, 287 861
(See notes to financial statements)
This statement is an integral part of report dated July 6, 1973.
-32-
Exhibit 8
City of Brooklyn Center
Capital Projects Funds
COMBINED BALANCE SHEET (COMPARATIVE)
Decernber 31, 1972 and 1971
Certificates Open-Space Capital Municipal Combined Combined
of Indebtedness Acquisition Projects State Aidfor December 31, December 31,
#11 Fund Fund Construction 1972 1971
2, 238) 17 94 2, 081) 1, 379
1,931 1,931 2,206
20, 029 20, 029 l, 377
456 1, 094 153, 924 1, 527, 928 1, 686, 504 1, 675, 561
87, 525 87, 525 87, 525
53, 925 53, 925 10, 917
89, 000 89, 000 229, 000
50, 000
456 86, 381 $244, 872 $1, 601, 976 $1, 936, 833 $2, 057, 965
429 2, 942 3, 371 1, 836
50, 900 101 263, 578 314, 579 112, 897
41 537 35, 975 77, 512 149, 934
32, 558 203, 234 1, 083, 777 1, 319 569 1 638, 173
456 2,494 215,704 221,802 155,125
456 86, 381 $244, 872 $1, 601, 976 $Y, 936, 833 $2, 057, 965
Exhibit 1)
-33-
Certificates
of Library Indebtedness
Bonds #10
Reserve for Authorized Expenditures
General indebtedness
G-eneral obligation bonds $250, 000
Certificates of indebtedness 44, 000
Ad valo rem taxe s
Sale of property
G rant s f rom othe r go ve rnmental u nit s
Hennepin County
U, S. Government
State of Minnesota for'parks
State of Minnesota for highways
Transfers-In
G ene ral Fund
Special Assessment Funds
Dedicated funds appropriated as of year end
Interest earned on investments l, 527 287
Total Amount Appropriated $251, 527 44, 287
Less: Ex enditures for authorized purchases
P
Total expenditures through December 31, 1971 $249, 240 43, 426
1972 Expenditures
Open 5pace land acquisition
Debt service
Street construction
Civic center
Municipal service ga �°age and fire station (East)
Parks and playg round s�
Total Authorized Expenditures thraughDecember 31,1972 $249, 240 43, 42b
Reserve for Authorized Expenditures, December 31, 1972 -0- -0-
(Exhibit 8)
Unappropriated Fund Balance, December 31, 1972 2, 287 861
(Exhibit 8)
(See notes to financial statements)
This statement is an integral part of report dated July 6, 1973.
-34-
Citv of Brooklyn Center Exhibit 9
Capital Projects Funds
COMBINED 5TATEMENT OF APPROPRIATIONS AND EXPENDITURES (COMPARATIVE)
Years 1972 and 1971
Municipal
Certificates Open State Aid
of Space Capital for Combined Combined
Ind�btedness Acquisition Projects Highway December 31, December 31,
#11 Fund Fund Construction 1972 1971
$2, 250, 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
74, 643 74, 643 74, 643
1, 186, 114 1, 186, 114 956, 272
92, 997 3, 000 95, 997 95, 997
87, 000 87, 000 37, 000
279,000 279,000 279,000
94 2, 494 227, 306 246, 026 477, 734 379, 777
9, 594 $344, 559 $3, 149, 092 $2, 462, 140 $6, 261 199 $5 933, 400
9, 138 $206 999 $2, 908, 424 722, 875 $4, 140, 102 $3,, 707, 859
102 508 102 508 5 538
39, 888 39, 888 61, 901
399, 896 399, 896 270, 294
7, 886 7, 886 62 411
263 263 9,038
2q,285 29,285 23,061
9, 138 $309, 507 $2, 945, 858 $1, 162 659 $4, 719, 828 $4, 140, 102
-0- 32, 558 203, 234 -$1, 083, 777 $1, 319, 569 $1, 638,173
456 2, 494 -0- 2I5, 704 221, 802 155, 125
I
-35-
Park Librar
y
ASSETS Bonds Bonds
Cash on hand and in de ositories 71 24
p
Temporary investments 31, 390 8, 481
Due £rom other funds
Taxes Receivable 2, 245 313
Totals $33, 706 $8, 818
LIABILITIES AND SURPLUS
Unappropriated surplus (Exhibit 11) $33, 706 $8, 818
Totals $33, 706 $8, 818
(See notes to financial statements)
This statcment is an in�egral part of report dated July 6, 1973.
_36_
Exhi�it 10
City of Brooklyn Center
Debt 5Ervice Funds
COMBINED BAL,ANCE SHEET (COM�ARATIVE)
December 31, 1972 and 1971
Certificates State Aid 1969 Building Combined Combined
of Stree� Improvement Total Total
Indebtedness Bonds Bonds 1972 1971
r 219 4 318 274
9, 117 131 31, 164 80, 2 83 54, 553
6, 239 6, 239 6, 239
1. 197 9, 031 12, 786 23, 330
$10 533 $6, 370 $4Q 199 $99, 626 $84, 396
$10,533 $6,370 $40,199 $99,626 $84,396
$10,533 $6,370 $40,199 $99,626 $84,396
Exhibit 1)
i
t
t
1
-37-
1
1
Park Library
Bonds Bonds
Unappropriated 5urvlus, Januar�tr 1 $30, 436 7, b62
Add: Revenue
General property tax levies 28, 713
State aid
Transfers froxn other funds 15, 700
Interest on ternporary investznents 1, 875 381
Total BalanGe and Additions $61, 024 $23, 743
Deduct: Expenditures
Principal paid $20, 000 $10, 000
:tnterest paid 7, 200 4, 900
5erviee charges (�aying agent) 99 25
Write off- tax levy balances 19
Total Expenditures $27, 318 $14, 925
Unappropz�iated Surplus, December 31 $33, 706 8, 818
(Exhibi.t 10)
(5ee notes to finan���.l st�.texnents)
This statement is an integral part of report dated July 6, 1973.
-38-
City of B rooklvn C ente r Exhibit 11
DeUt Service Funds
COMBINED STATEMENT OF REVENUE, EXPENDITURES
AND SURPLUS (COMPARATIVE)
For the Years Ended December 31, 1972 and 1971
Certificates State Aid 1969 Building Combined Combined
of Street Improvements Total Total
Indebtedness Bonds Bonds 1972 1971
$10, 025 6, 360 29, 913 84, 3g6 66, 809
191, 784 220, 497 208, 223
49, 540 49, 540 43, ?90
39, 792 55, 492 58, 001
522 131 1.464 4,373 3,945
$10, 547 $95, 823 $223, 161 $414, 298 $380, 768
$25, 000 35, 000 90, 000 68, 000
64, 277 147, 550 223, 927 227, 302
176 412 712 686
14 33 384
14 $89,453 $182,962 $314,672 $296,372
$10,533 6,370 40,199 99,626 84,396
39-
Bond Fund 1955A
ASSE T5 No. 1 Fund
Cash on hand and in depositories 10 107
Temporary investments 10, 708 95, 344
Accounts receivable
Due f rom othe r fund s
Assessments receivable:
Future installments (principal) 740 26, 507
Delinquent assessments (principal interest) 834 5, 220
City General Fund (principal no interest charge) 66
Interest applicable to current year on installments
due in following year
I nstallments applicable to tax forfeit property 129 400
Authorization to assess for construction in progress
Deferred interest charges
Totals $12, 421 $127, 644
LIABILITIES
Accounts payable
Contracts payable
Accrued expenses and costs
Due to other funds
Construction loans payable
Bonds payable future years (Exhibit 15) 51, 000
Total Liabilities -0- 51, 000
Unappropriated surplus (deficit) for debt xetirement
(Exhibit 13) $12, 421 76, 644
Unexpended appropriations for construction
(Exhibit 14)
Totals $12, 421 $127, 644
(See notes to financial statements)
This statements is an integral part of report deated July 6, 1973.
_40_
City of Brooklyn Center �xhibit 12
5pec.ial Assessment Funds i
COMBINED BALANCE SHEET (COMPARATIVE)
Years Ended December 31, 1972 and 1971
1956 B Combined Combined
1956 AC 1957 AB 1958 A 1958 B 1959 AB 1960 AB 1961 AB 1963 1965 1966 1968 1970 1971 Total Total
Fund Fund Fund Fund Fund Fund Fund Fund Fund Fund Fund Fund Fund 1972 1971
148 106 106 87 66 500 111 42 306 140 1,227 74 1,632 4,662 2,882
127, 953 12, 611 126, 436 137, 186 124, 313 342, 485 371, 676 213, 843 54, 342 82, 472 74 811 66 320 1, 840, 500 1, 843, 193
25 27, 124 27, 149 525
306 203 l, 446 267, 117 269, 072 97, 240
57, 799 33, 750 82, 752 31, 394 101, 740 342, 394 204, 921 196, 709 114, 708 314, 909 442, 070 1, 787, 062 698, 744 4, 436 199 4, 672, 552 I�
7, 031 932 5, 109 847 1, 869 25, 683 15, 542 5, 14� 1, 725 7, 183 11, 228 171, 301 10, 890 270, 543 232, 717
50 37, 147 4, 975 13, 578 12, 579 12, 095 167, 412 45, 635 293, 537 278, 500
8, 477 8, 4�7 5, 476
1, 047 92) 847 1, 083 310 3, 787 13, 607 621 934 1, 570 903 25, 146 20, 787 I
20, 622 3, 233 419, 264 443, 119 g9 5, 417
I
33,280 33,280 36,244 I
$193, 978 $47, 307 $215. 300 $170, 597 $228, 298 $714, 849 $643.004 $421, 645 $185 796 $440, 946 $541, 431 $2, 228, 682 $1, 479. 786 $7, 651, 684 $8, 085, 533
I
34 9 43
71,332 71,332 108,677
98,043 98,043 40,481
203 1,446 155,726 80,119 237,494 202,683
1,132,000 1,132,000 904,000
80, 000 $150, 000 $110, 000 $215, 000 600, 000 $490, 000 305, 000 1 55, 000 $415, 000 515, 000 1, 905, 000 4, 991 000 5, 585, 000
80, 000 -0- $150, 000 $110, 000 $215, 000 $600, 034 $490, 000 $305, 203 $155, 009 $415, 000 $516, 446 $2, 060, 726 $1, 381, 494 $6, 529, 912 6, 840, 841
$113, 978 $47, 307 65, 300 60, 597 13, 298 $114, 815 $153, 004 $116, 442 30, 787 25, 946 24, 985 167, 956 40, 035 $l, 063, 515 1, 081, 987
58,257 58,257 162,705
$193, 978 $47, 307 $215, 300 $170, 597 $228, 298 $714, 849 $643, 004 $421, 645 $185, 796 $440 946 $541, 431 $2, 228, 682 $1, 479, 786 $7, 651, 684 8, 085, 533
(Exhibit 1)
I'I�
_41-
Bond Fund 1955 A
No 1 F und
Unappropriated 5urplus January 1 $35, 604 $127, 432
Add: Revenue
Interest Assessments 463 1, 892
Interest Investments 1, 468 9, 617
Revenue 1,931 11,509
Le s s: Expenditure s
Interest 64 2, 210
Agent charges 50 87
Transfers to capital project fund per council 25, 000 60, 000
re solutions
Expenditures $25, 114 62, 297
Unappropriated Surplus December 31 To Exhibit 12) $12, 421 76, 644
(See notes to financial statements)
This statement is an integral part of report dated Juiy 6, 1973,
-42
Citv af B rooklvn Cente r E
xhibit 13
Special Assessment Funds
COMBINED 5TATEMENT OF REVENUE, EXPENDITURES AND
UNAPPROPRIATED SURPLU5 FOR DEBT RETIREMENT (COMPARATIVE)
Years Ended December 31, 1972 and 1971
1965 B Combined Combined
1956 AC 1957 AB 1958 A 1958 B 1959 AB 1960 AB 1961 AB 1963 1965 1966 1968 1970 1971 Total Total
Fund Fund Fund Fund Fund Fund Fund Fund Fund Fund Fund Fund Fund 1972 1971
'$146, 893 $75, 342 $58, 256 $82, 131 8, 912 96, 330 $135, 424 $101, 405 $27, 232 $23, 113 $23, 862 $133, 546 6, 505 $1, 081, 987 924, 921
3, 979 2, 464 6, 064 2, 345 7, 055 25, 083 14, 769 13, 945 6, 984 $19, 655 $35, 474 $161, 009 $33, 544 334, 725 349, 512
10, 544 1, 520 8, 109 10, 808 8, 300 21, 341 22, 726 12, 603 3, 224 4, 373 3, 579 2, 621 120, 833 120, 079
14, 523 3, 984 $14, 173 $13, 153 $15, 355 46, 424 37, 495 26, 548 $10, 208 $24, 028 $39, 053 $163, 630 $33, 544 455, 558 469, 591
4, 305 7, 000 4, 640 $10, 875 27, 600 19, 765 11, 440 6, 585 $21, 035 $37, 700 $128, 721 281, 940 310, 050
133 19 129 47 94 339 150 71 68 160 230 499 14 2,090 2,475
43, �00 32, 000 30, 000 190, 000
47,438 $32,019 7,129 34 687 10 6 27 3
9 9 9 9 19, 915 11, 511 6, 653 $21, 195 $37, 930 $129, 220 14 474, 030 312, 525
�$113, 978 $47, 307 $65, 300 $60, 597 $13, 298 $114, 815 $153, 004 $116, 442 $30, 787 $25, 946 $24, 985 $167, 956 $40, 035, $1, 063, 515 $1, 081, 987
i
I
'43_
THOSE PROJECTS CLOSED DURING 1972
Appropriations (Note 3)
Project Original (Added) Final
Number Description Appropriations Cancelled Appropriation
69 Curb and gutter 54, 330. 00 54, 330. 00
69-52 Curb and gutter 23, 060. 00 23, 060. 00
69-57 Curb and gutter 21, 860. 00 21, 860. 00
70-13 Street 66, 600. 00 66, 600. 00
70-14 Curb and gutter 13, 400, 00 13, 400. 00
70-15 Street 24, 400. 00 24, 400. 00
70-16 Curb and gutter 4, 200. 00 4, 200. 00
70-19 Street 65, 000. 00 65, 000. 00
70-20 Street 94, 450.�00 94, 450. 00
71-2 Street 19, 400. 00 19, 400. 00
71-4 Street 17, 600. 00 17, 600. 00
71- 5 Street 18, 100. 00 18, 100. 00
71-6 Curb and gutter 5, 200. 00 5, 200. 00
71-7 Curb and gutter 11, 400. 00 11, 400. 00
71-8 Sidewalk and
street 215, 000. 00 215, 000. 00
71-13 Sanitary sewer 16, 300. 00 16, 300. 00
71-14 Water 35, 000. 00 35, 000. 00
71-16 5anitary sewer 8, 800. 00 8, 800. 00
71-17 Water 12, 200. 00 12, 200. 00
71-18 Water 25, 500. 00 25, 500. 00
71-19 Street 5, 050. 00 5, 050. 00
71-20 Sanitary sewer 13, 700. 00 13, 700. 00
71-21 Storm sewer 21, 000. 00 21, 000. 00
71-22 Water 13, 300, 00 13, 300. 00
Total Projects Closed
in 1972 $804, 850. 00 $-0- $804, 850. 00
(See notes to financial statements)
This statement is an integral part of report dated July b, 1973.
44
City of Brooklyn Center Exhibit 14
Special Assessment Funds
�ONSTRUCTION EXPENDITURES COMPARED TO APPROPRIATIONS AND AS5ESSMENT OF COSTS
Year 1972
Expenditures Costs Assessed Assessed Compared to Cost
Balance During Total 5tate Aid Property (Under) Over Applied to Water
1/1 /1972 1972 Expenditures Share Share Total Assessed Utility
44, 007. 90 4, 737. 40 48, 745. 30 14, 623. 59 34, 121. 70 48, 745. 29 $(Ol)
8, 004. 49 1, 782. 53 9, 787. 02 9, 787. 06 9, 787. 06 04
13, 522. 77 950. 39 14, 473. 16 4,�341. 95 10, 131. 21 14, 473. 16
31, 672. 73 3, 737. 52 35, 410. 25 35, 410. 24 35, 410. 24 (Ol)
10, 929. 81 1, 220. 90 12, 150. 71 12, 150. 71 12, 150. 71
14, 861. 25 1, 820, 56 16, 681, 81 5, 004, 55 11, 677. 24 16, 681. 79 (02)
3, 243. 07 342. 50 3, 585. 57 1, 075. 67 2, 509. 89 3, 585. 56 (O1)
51, 943. 91 4, 653. 36 56, 597. 27 22, 147. 53 34, 449. 72 56, 597. 25 (02)
50, 432, 56 11, 193. 35 61, 625. 91 61, 625. 88 61, 625. 88 (03)
17, 493. 29 3, 781, 35 21, 274. 64 21, 274. 64 21, 274, 64
15, 924. 37 6, 154. 64 22, 079. O1 6, 623. 70 15, 455. 30 22, �79. 00 (O1)
14, 196. 71 13, 497. 19 27, b93. 90 27, 693. 90 27, 693. 90
5, 843. 36 1, 118. 15 6, 961, 51 6, 961. 55 6, 961. 55 04
10, 465. 72 437. Ol 10, 902. 73 5, 822. 55 5, 080. 15 10, 902. 70 (03)
225, 094. 66 14, 683, 65 239, 77$. 31 109, 821. 53 129 956 78 239, 778. 31
14, 162, 40 71. 70 14, 234. 10 14, 234. 19 14, 234. 19 �9
31, 769. 04 3, 0 10, '7g 34, 779. 82 27, 910. 00 27, 910. 00 6, 869. 82)
7, 926. 21 262. 59 8, 188. 80 8, 188. 80 8, 188. 80
9, 783. 54 514. 59 10, 298. 13 27, 312. 62 27, 312. 62 17, 014. 49
26, 761. 76 167. 94 26, 929. 70 13, 570. 00 13, 570. 00 13, 359. 70)
2, 389. 96 1, 766, 60 4, 156. 56 4, 156. 55 4, 156. 55 (O1)
9, 575. 83 2, 635, 17 12, 211. 00 12, 21 l. 08 12, 211. 08 08
16, 303. 58 3, 889. 79 20, 193. 37 20, 193. 37 20, 193. 37
13� 505. 10 4, 038. 72) 9, 466. 38 11, 611. 30 11, 611. 30 2, 144. 92
$649 814. 02 $78, 390. 94 $728, 204. 96 $169 461. 07 $557, 673. 88 $727, 134. 95 $.10 $(1, 070. 11)
45_
Citv of Brooklvn Center Exhibit 14
Special Assessment Funds Cont'd
CONSTRUCTION EXPENDITURES COMPARED TO APPROPRIATIONS AND
ASSESSMENT OF CO5TS
Year 1972
PROJECTS IN PROCESS AT 12 /31 /1972
Appropriated Expenditures Unexpended
Project Through Through (Overexpended)
Number Description 12-31-72 12-31-72 Appropriations
71-3 Curb and gutter 6, 300. 00 6, 300.00
71-9 Sidewalk 12, 400, 00 11, 412. 04 987. 96
71-15 Street 13, 500. 00 17, 283. 62 3, 783, 62
71-23 Street 25, 200. 00 14, 852. 22 10, 347. 78
71-24 Curb and gutter 9, 300. 00 9, 300. 00
72-16 Sanitary sewer 27, 000. 00 24, 072. 53 2, 927. 47
72-17 Storm sewer 90, 000. 00 77, 533. 67 12 466 33
72-18 Water 33, 330. 00 30, 154. 14 3, 175. 86
72-19 Street 88, 000. 00 55, 657. 53 32, 342. 47
72-20 Bridge 13, 000. 00 12, 548, 49 451. 51
72-25 Sanitary sewer 2, 350. 00 1, 188. 00 1, 162. 00
72 Street 22 241 66 22, 241. 66
72-27 Water 7, 300. 00 5, 895. 53 1, 404. 47
72,28 Sanitary sewer 14, 100, 00 12, 421, 88 1, 678. 12
72-29 Street 1, 500. QO 3, 162. 68 1, 662. 68)
72-32 Water 10, 900. 00 9, 824. 29 1, 075. 71
72-33 Street 3, 350. 00 4, 512. 89 1, 162. 89)
72-34 Street 32, 000. 00 185. 28 31, 814. 72
Unallocat�d costs 50, 568. 26 50, 568. 26)
Total Appropriations $411, 771. 66
Total Expenditures $353, 514. 71
Excess Appropriations Over Expenditures (To Exhibit 12) $58, 256. 95
(See notes to financial statements)
This staternents is an integral part of report dated July 6, 1973.
1
46-
Bond
Redemption
Year of Total Monies to
Fund Descriptionof Issue Issue Issue Payin� Agent
1955 A 1955 A serial issue 1955 497, 000 446, 000
1956 AC 1956 C serial issue 1956 550, 000 470, 000
1958 A 1958 A serial issue 1958 530, 000 380, 000
1958 B 1958 B serial issue 195$ 390, 000 280, 000
1959 AB 1959 AB serial issue 1960 630, 000 415, 000
1960 AB 1960 A serial issue 1960 768, 000 528, 000
1960 B serial issue 1961 885, 000 525, 000
1961 AB 1961 A serial issue 1962 595, 000 325, 000
1961 B serial issue 1963 430, 000 210, 000
1963 1963 A serial issue 1964 636 000 331, 000
1965 1965 A Improvement bonds 1966 345, 000 190, 000
1966 1968 Improvement bonds 1968 750, 000 335, 000
1968 1969 Improvement bonds 1969 755, 000 240, 000
1970 1970 Improvement bonds 1970 2, 290, 000 385, 000
T.otal $10, 051, 000 $5, 060, 000
(See notes to financial statements)
This statement is an integral part of report dated July 6, 1973,
-47-
Exhibit 15
City of Brooklyn Center
Special Assessment Funds
STATEMENT OF LONG-TERM DEBT (PRINCIPAL AMOUNT OUTSTANDING)
December 31, 1972
Balance Last
Unpaid Installment
12-31-72 Due on CouAOn Rates on Outstandin� Bonds
51, 000 1-1-76 3. 25%
80, 000 1-1- 77 4. 10
150, 000 1-1-79 4. 00
110, 000 1-1-79 10 M@ 3. 50%; 90 M� 3, 60%
215, 000 1-1-81 30 M@ 4. 25%; 185 M@ 4. 50%
240, 000 1-1-81 90 M L 3. 00%; 190 M� 4. 20%
360, 000 1-1-81 315 M@ 4. 20%; 45 M@ 4. 10°'/0
270, 000 1-1-82 150 M@ 3. 75%; 120 M@ 3. 70%
220, 000 1-1-84 100 M@ 3. 70%; 120 M@ 3. 60%
305, 000 1-1-85 75 M@ 3. 60°�0; 80 M� 3, 50°jo; 90 M@ 3. 40%; 60 M@ 3.20%
155, 000 1-1- 86 110 M@ 3. 80%; 45 M� 3. 70%
415, 000 1-1- 88 50 M(� 4. 80%; 100 M@ 4, 70%; 16 5 M@ 4. 50%; 100 M@ 4, 20%
515, 000 1-1-89 6. 50%
1, 905, 000 1-1-90 40 M@ 6, 75%; 20 M@ 6. 70%; 20 M@ 6, 65%; 125 M@ 6, 60%
125 M@ 6. 50%; 125 M L 6.40%; 125 M� 6. 30%
375 M@ 6. 25%; 620 M@ 6.00%; 330 M� 5. 50%
�4. 991, 000
Exhibit 12
48
A55E T 5
Current Assets 1972 1971
Cash on hand and in depositories 41, 851 41, 284
Miscellaneous receivables 2 929 85
Temporary investments 1, 446 34, 858
Due from other funds 2, 071 58
Merchandise inventory (Note 4) 170, 068 193, 023
Prepaid expenses 3, 420, 7, 504
Cash held by paying agent revenue
certificate account 15, 319
Total Current Assets $221, 785 $292, 131
Fixed Assets
Fixtures Equipment
Lyndale Avenue Store 11, 670 11, 420
Brooklyn Blvd. Store 20, 047 19, 797
Brookdale Store -0- 10, 976
Northbrook Store 25, 270 25, 200
56, 987 67 393
Less: Accumulated provision for
depreciation t 33, 246) 41, 063)
23, 741 26, 330
Leasehold and Land Improvements (Note 4)
Brooklyn Blvd. 5tore 4, 229 2, 240
Brookdale Store -0- 16, 779
Northbrook Store 10, 402 10, 402
14, 631 29, 421
Less: Accumulated provision for
amortization 3, 963) 18 109)
10, 668 11 312
Total Book Value of Fixed Assets 34, 409 37, 642
Total Assets $256, 194 $329, 773
(See notes to financial statements)
This statement is an integral part of report dated July 6, 1973.
49-
1 Exhibit 16
Citv of Brooklvn Center
Municipal Liquor Fund
BALANCE SHEET (Comvarative)
December 31, 1972 and 1971
LIABILITIES AND SURPLUS
Current Liabilities. 1972 197I
Accounts payable 59, 142 56, 082
Accrued sales tax payable 6, 499 6, 812
Accrued salaries and wages payable 2, 597 2, 672
Accrued insurance payable 613 127
Due to other funds 110, 128 93, 135
Accrued interest on revenue certificates -0- 319
Revenue certificates payable portion due within
one year -0- 15, 000
1 Contracts payable -0- 29, 985
Total Current Liabilities $178, 979 $204, 132
Lon�-Term Liabilities
Revenue certificates payable -0- 15, 000
Less: Portion due within one year 15, 000)
Total Lon�-Term Liabilities -0- -0
Total Liabilitie s
$178, 979 $204, 132
Su rplus Exhibit 17
Restricted per terms of resolution aut horizing
the issuance of revenue certificates -0- 15, 319
Unrestricted, undistributed sur lus 77, 215 110, 322
P
Total Surplus 77, 215 $125, 641
Total Liabilities and Surplus $256, 194 $329, 773
Exhibit 1)
-so-
Exhibit 17
City of Brooklyn Center
Municipal Liquor Fund
ANALY5IS OF CHANGE5 IN SURPLUS (COMPARATIVE)
Years 1972 and 1971
1972 1971
SurAlus, Januarv 1 $125, 641 $158, 756
Add: Net income {Exhibit 19 133, 972 168, 406
Balance and Additions $259, 613 327, 162
Deduct: Transfers to other Funds
General Fund (Exhibit 4) 182, 398 2�1, 521
Surplus, December 31 (To Exhibit 16 77, 215 $125. 641
(See notes to financial statements)
This statement is an integral part of report dated Ju ly 6, 1973.
_.51
1
Exhibit 18
Citv of Brooklyn Center
Municipal Liquor Fund
5UMMARY STATEMENT OF CHANGE5 IN FINANCIAL
POSITION �COMPARATIVE)
Years 1972 and 1971
1 Source of Funds 1972 1971
Funds Provided by:
Net income for year (Exhibit 19 $133, 972 $168, 406
Add: Charges not requiring funds depreciation 5, 792 1, 863
Net funds provided by operations 139, 764 170, 269
Reduction of working capital 45, 193 83, 082
Total Source of Funds $184, 957 $253, 351
Application of Funds
Funds Applied to:
Purchase of fixed assets 2, 559 36, 830
Retirement of bonds -0- 15 000
Transfers to general fund 182, 398 201, 521
Total Application of Funds $184, 957 $253, 351
Analysis of Changes in Working Capital
Beginning End of Working Capital
Year of Year Year Increase (Decrease)
Workin� Capital 2972 87, 999 $42, 806 $(45, 193)
Workin� Capital 1971 $171, 081 $87, 999 $(83, 082)
(See notes to financial statements)
This statement is an integral part of report dated July 6, 1973.
52_
1
Sales
Less: Cost of sales
Gross Mar�in on Sales
Operatin� Expenses Requirin� Funds
Sala rie s and wage s
Insurance
Rent Note 4
Payroll taxe s
Utilitie s
Supplie s
Repairs and maintenance
Heating
Protection services
Laundry
Audit
Telephone
Inventory variance
Miscellaneous expenses
Provision for bad checks (Net of recoveries)
Mileage
Cash (over) and short
Breakage
Taxes and license
Total Operatin� Expenses Requiring Funds
Net Operatin� Income Loss) Before Depreciation and Amortization
Less: Depreciation
Net Operating Income (Loss)
Add: Interest income on temporary investments and miscellaneous income
Deduct: Interest and paying agent charges on revenue certificates
Net Income (To Exhibits 17 18)
(See notes to financial statements)
This statement is an integral part of report dated July 6, 1973.
53_
j Exhibit 19
Citv of Brooklj-n Center
Municipal Liquor Fund
STATEMENT OF INCOME AND EXPENSE (COMPAR.ATIVE)
Year ly"!2
#1 #2 #3 #4 Combined Combined
Lyndale Ave. Brooklyn Blvd. Brookdale Northbrook Total All Total All
Stor� Store Store Store Stores-1972 Stores-1971
$367, 108 $55 1, 683 10, 748 $520, 917 $1, 450, 456 $1, 369, 438
287, 393 430, 212 9, 633 405, 112 I, 132, 350 1, 034, 2_55
79. 715 $121, 471 1, 11 5 $115, 805 318, 106 335, 183
35, 784 41, 546 2, 403 38, 749 118, 482 I08, 083
4, 290 5, 090 936 4, 476 14, 792 12, 775
-0- -0- 1,094 13,205 14,299 16,054
2, 529 3, 078 180 3, 268 9, 055 7, 421
l, 910 2, 208 223 2, 824 7, lb5 6, 893
730 I, 398 -0- I, 456 3, 584 3, 799
1,127 1,370 46 575 3,118 3,617
1, 382 796 120 646 2, 944 1, 445
376 603 32 499 1,510 1,697
189 618 23 572 1,402 1,221
311 452 -0- 424 1, 187 I. I E�0
249 271 7 288 815 685
204 388 61 140 793 3]f�
95 95 112 85 387 218
81 130 17 100 328 290-
71 71 7 104 253 459
77) 111 5 68 107 19
39 31 -0- 22 92 11
23 22 -0- 15 60 59
49, 313 58, 278 5. 2h6 67, 516 180, 373 166 222
30, 402 63, 193 4, 151) 48, 289 137, 733 168. 961
11 1, 167 -0- 4, 614 5, 792 1, 863
30, 391 b2, 026 4,151) 43, 675, 131, 941 167, 098
2 031 1 983
-0- 675)
133,972 168,406
54_
1
A5SET5
Decembe r 31,
1972 1971
Plant, Equipment and Construction Funds (Note 6)
Mains and lines $10, 151, 077 $10, 064, 897
5tructures 406, 128 405, 935
Equipment 286, 135 285, 851
Meters 246, 296 233, 626
Land 23, 621 19, 371
Plant and equipment in service (Exhibit 25) $11, 113, 257 $11, 009, 680
Construction in progress 5 993 5 993
Unexpended bond proceeds (Note 5) 629, 317 60Q, 836
Total Plant, Equinment and Construction Funds $11, 748, 567 $11 616 509
Restricted Assets
Investments funded depreciation (Note 6) 510, 034 385, 531
Debt retirement fund (1'�ote 5) 187, 176 188, 832
Metro Sewer Board receivable (Note 7) 303, 747 293, 325
Investments plant expansion (Note 5} 1, 022, 453 844, 121
Total Restricted Assets 2, 023, 410 1, 711, 809
Other Assets
Assessments receivable principal portion 85 651 89 916
Current and Accrued Assets
Cash in bank 13, 376 3, 519
Accounts receivable 86, 394 96, 990
Accrued revenue -(Water pumped, but not billed) 69, 069 66 365
Materials and supplies 12, 864 13, 234
Prepaid expenses 15 986 2, 410
Assessments receivable 2, 149 2, 136
Due from other funds 191, 830 196, 712
Due from other governmental units 28, 186
Total Current and Accrued Assets 419, 854 381, 366
Total $14, 277, 482 $13, 799, 600
See note s to financial statements)
This statement is an integral part of report dated July 6, 1973.
-55-
City of Brooklyn Center Exhibit 20
Public Utilities Fund
COMPAR.ATIVE BALANCE SHEET
December 31, 1972 and 1971
LIABILITIES, RESERVES AND RETAINED EARNING5
December 31,
1972 1971
Sources of Investments in Fixed Assets
Lon�-Term Debt
Revenue bonds (Exhibit 26) (Note 5) 785, 000 815, 000
Contributions, Reserves and Surplus
Contributions from specia2 assessments and contractors 9, 549, 516 9, 483, 565
Revenue bonds redeemed (Note 5) 2I5, 000 185, 000
Interest income accumulated on bond proceeds (Note 5) 264, 894 231 969
Depreciation provisions represented as invested in
plant (Note 6) 905, 266 892, 314
Plant and equipment charged to income 28, 891 8, 661
Total Sources of Investrnent in Fixed Assets $11, 748, 567 $11 616 509
Reserves for Restricted Assets
Depreciation provisions represented as not invested in
plant (Note 6) 510, 034 385, 531
Debt service reserves (Note 5) 187, 176 188, 832
Metro 5ewer Board reserves (Note 7) 303, 747 293, 325
Restriction for plant expansion (Note 5) l, 022, 453
Total Reserves for Restricted Assets 2, 023, 410 867, 688
Other Liabilities and Credits
Customer meter deposits 247, 422 231 396
Deferred gain on sale of assets (Note 7) 91, 975 95, 260
TotalOther Liabilities and Credits 339, 397 326, 656
Current and Accrued Liabilities
Vouchers payable 13, 834 3, 617
Contracts and notes payable 2, 349 l, 416
Accrued salaries payable 1, 771 1, 403
Accrued payroll taxes 2, 359 2, 290
Due to other funds 13, 860 11, 350
Total Current and Accrued Liabilities 34, 173 20, 076
Balance of retained earnin s Exhibit 22 131 35 68 67
g ,9 9 1
Total 14 277 482
$13, 799, 600
56-
Citv of Brooklvn Center Exhibit 21
Public Utilities Fund
COMPARATIVE STATEME NT' OF CHANGES IN FINANCIAL POSITION
Years 1972 and 1971
Sources 1972 1971
Operations:
Balance of Income available for transfer to
retained earnings 185, 717 238, 628
Add: Non-working capital charges not requiring
outlay of wo rking capital
Income deductions (Exhibit 22) 105, 025 118, 746
Depreciation (Exhibit 22) 137, 455 136, 645
Metro Sewer Board receivable (Note 7) 11, 485 11, 837
Deduct: Non-working capital credits not requiring
additional wo rking capital
Income additions (Exhibit 22) 12, 653) 13, 295)
Metro Sewer Board deferred gain (Note 7) 3, 285) 3, 285)
Interest Expense (Exhibit 22) 31, 767) 32, 893)
Working Capital provided by operations 391, 977 456, 383
Retirement of assets -0- 3, 921
Contributions by contractors and special assessments 65, 951 125, 707
Customer meter deposits 16, 026 19, 055
Collection of assessments receivable 14, 344 21, 380
Interest income accumulated on bond proceeds(l�bte 5) 32, 925 37, 042
Reduction Metro 5ewer Board Receivable (Note 7) 1, 120
Additions to reserves 1, 095, 711 42, 917
,Reduction of debt service asset 48 1, 458
Sale of assets to Metro Sewer Board 994, 121
Establish Metro 5ewer Board reserves 305, 162
Total $1, 618, 102 $2, 007, 146
Applications
Invested in plant and equipment 103, 577 157, 790
Increase construction funds (Note 5) 28, 481 37, 042
Increase restricted investments 302, 835 251, 444
Assessments 10, 079 22, 027
Retire Debt 30, 000 704, ?67
Transfer of reserves 325, 332
Appropriation of retained earnings (Note 5) 1, 022, 453
Metro Sewer Board Receivable 23, 028 348, 098
Transfer to reserves 73, 258 42, 917
Increase in working capital 24, 391 117, 729
Total $1, 618, 102 $2, 007, 146
Chan�es in Workin� Capital
Working capital, beginning of year 361, 290 243, 561
Working capital, end of year 385, 681 361, 290
Increasel of workin� capital 24, 391) 117, 729)
(See notes to financial statements)
This statement is an integral part of report dated July 6, 1973.
57-
City of Brooklyn Center Exhibit 22
Public Utilities Fund
COMPAR.ATIVE STATEMENT OF OPERATIONS AND RETAINED EARNING5
Years 1972 and 1971
1972
Water Sewer 1971
Department Department Combined Combined
Utility Operatin� Revenues
Residential sales $208, 750 $247, 957 $456, 707 $464, 863
Commercial Sales 119, 133 139, 341 258, 474 237, 713
Other governmental unit sales 20, 232
Service hookup charges I9, 204 -0- 19, 204 38, 752
Penalties 881 5, 138 6, 019 5, 759
Other 13,912 14,357 28,269 38,228
Utility Operating Revenues $361, 880 $406, 793 $768, 673 $805, 547
Less Utility Operatin� Expenses
Operating Expenses (Exhibit 23, 24) $141, 100 $306, 467 $447, 567 $391 967
Depreciation (Exhibit 25) 84, 855 52, 600 137, 455 136, 645
Utility Operatin� Expenses $225, 955 $359, 067 $585, 022 $528, 612
Utility Operatin� Income $135, 925 47, 726 $1$3, 651 $276, 935
Other Income
Interest 47, 036 47, 402 94, 438 67, 144
Utility Income $182, 961 95, 128 $278, 089 $344, 079
Income Additions
Metro Sewer Board reserves restored to retained
earnings (Note 7) 12, 605 11, 837
Debt service reserve restored to retained earnings 48 1, 458
Total Income Additions 12, 653 13, 295
Income Deductions
Redemption of debt 30, 000 34, 256
Interest on long-term debt 31, 767 32, 893
Capital outlay charged against income 20, 230 8, 661
Reserve for current year def�rment charge (Note 7) 23, 028 42, 936
Total Income Deductions $105, 025 $118, 746
Balance of Income Available for Transfer to Retained Earnin�s $185, 717 $238, 628
Exhibit 21)
Retained Earnings, January 1 968, 671 730, 043
Appropriation of Retained Earnings (Note 5) 022. 453 -n-
t Retained Earnin�s December 31 (Exhibit 20) $131, 935 $968 671
(See notes to financial statements)
This statement is an integral part of report dated July 6, 1973.
-58-
5ource of
5u Pp1Y T ransmi s sion
Labor 9, 430 7, 806
Electricity 17, 845
Purification supplies 9, 753
Mate rials 993 4, 430
Rent administration
Equipment operation 239 269
Payroll taxes 730 605
Insurance
Supplies 1, 066 236
Postage
Fuel heating 1, 918
Consulting fees 75
Refunds custome r
P rinting
Fuel Equipment
Schools conferences
Equipment rental 17 169
Small tools 45
Repairs 66 14,230
Othe r
Mileage
Refunds of penalties
Totals $42, 177 $27, 745
(See notes to financial statements)
This statement is an integral part of report dated July 6, 1973,
-59
Citv of Brooklyn Center Exhibit 23
Public Utilities Fund
1 COMPARATIVE WATER DEPARTMENT OPER.ATING EXPEN5E5
Years 1972 and 1971
Classification By Function 1972 1971
Custome r Department Department
l�dministration Accountino', Total Total
$23, 810 $13, 971 55, 017 50, 22?
17, 845 16, 757
9, 753 9, 754
1, 807 7, 230 4, 226
8, 758 8, 758 7, 626
1, 007 163 l, 678 1, 168
1, 844 1, 082 4, 261 4, 103
2, 500 2, 500 1, 903
191 448 1,941 751
3, 985 3, 985 3, 188
1, 918 967
9, 617 9, 692 683
515 515 520
I 49 401 450 1,160
619 619 628
81 81 410
63 249 102
82 127 266
14, 296 108
166 166 103
21
19 19 11
$51,128 $20,050 $141,100 $104,682
(Exhibit 22)
-60-
Disposal
Pumpin� T ransmi s sion
5hared cost joint facilities
Minneapoli s
Labor 6, 074 6, 701
Rent Administration
Electricity 5, 122
Equipment ope ration
Payroll taxe s
Materials 738 2, 698
Insurance
Postage
Consulting fees
Fuel equipment
Printing
Supplies 83 30
Repairs stations mains 25 470
Fuel heating 174
Equipment rental 17 235
Alarm system 934
Small tools 141
Refunds
Mileage
Metro Sewer Board charge (See below) 241, 079
Legal
Totals 249. 124 15, 397
(See notes to financial statements}
This stiatement is an integral part of report dated July 6, 1973.
-61-
City of Brooklyn Center Exhibit 24
Public Utilitie s F und
COMPARATIVE SEWER DEPARTMENT OPERATING EXPENSES
Years 1972 and 1971
Classification by Function 1972 1971
Customer Department Department
Administration Accountin� Total Total
22, 632
13,428 6,071 32,274 30 ,469
8, 758 8, 758 7, 626
5, 122 6, 048
896 163 1, 059 864
2, 516 2, 516 2, 489
3,436 1,244
3, 056 3, 056 1, 873
I,085 1,085 1,309
3, 531 3, 531 682
619 619 585
33 230 263 328
285 362 760 778
495 30
174 I54
64 316 52
17 951 407
69 210 302
475 475 791
21
241,079 208,601
288 288 -0-
34, 035 7, 911 $306, 467 $287, 285
(Exhibit 22)
Metro Sewer Board Char�es Note 7
Treatment Works Costs $182, 422 $147, 322
Collection and transmission 86, 193 64, 564
Total Char�es $268, 615 $211, 886
Less:
One thirthieth of deferred gain 3, 285) 3, 285)
C redit granted for overpayment of
1971 Sewer Bill (Note 7) 24, 251)
Total Metro Sewer Board Costs $241, 079 $208, 601
-62-
A s s e t s
1-1-72 12-31-72
Balance Additions Retirements Balance
Water Department
Mains and lines $4, 831, 876 45, 528 877, 404
Structures 405,935 193 406,128
Consumer meters in use 233, 626 12, 670 246 29F
Equipment 275, 821 284 276, 105
Land 18, 821 4, 25Q 23, 071
Total Water Department 766, 079 62, 925 5, 829, 004
Sewer Department
Mains and lines $5, 233, 021 40, 652 5, 273, 673
Equipment 10, 030 10, 030
Land 550 550
Total Sewer Department $5, 243, 601 40, 652 5, 284, 253
Total $1, 009, 680 $103, 577 $11, 113, 257
(Exhibit 20)
(See notes to financial statexnents)
This statement is an integral part of report dated Jui 6, 1973.
-63-
Exhibit 25
C ity of B rooklvn C ente r
Public Utilities Fund
STATEME NT OF PLANT AND EQUTPMENT AND PROVISION
FOR DEPRECJATION
December 31, 1972
n r D r ia on
Provisio fo ep ec tz
1-1-72 12�31-72 Depreciable
Balance Additions Retirements Balance I.�ife (Yearsl
328,609 48,318 376,927 100
145, 974 13, 532 159, 506 30
75, 741 11, 681 87, 422 20
1�J7, 087 11, 324 118, 411 5, 10, 20, 25
-0-
657, 411 84, 855 742, 266
j b10, 674 52, 330 b63, 004 100
9, 760 270 10, 030 5, 10, 20, 25
`0-
620, 434 52, 600 673, 034
$l, 277, 845 $137, 455 $1, 415, 300
(Exhibit 22) (No�e 6)
1
1
1
1
4-
6
Revenue Bonds Pavable
Principal Interest Year
Gertificate Interest Outstanding Coupons Out- of
Numbers Rate 12-31-72 standin� 12-31-72 Maturity
44-49 3.75% 30,000 29 ,962 1974
50-55 3, 75 30, 000 28, 838 1975
56-61 3. 90 30, 000 27, 690 1976
62-68 3. 90 35, 000 26, 422 1977
69-75 3. 90 35, 000 25, 058 1978
76-82 3.90 35,000 23,692 1979
83-89 3.90 35,000 22,328 1980
90-96 3 .90 35 ,000 20,962 1981
97-104 3. 90 40, 000 19, 500 1982
105-112 3, 90 40, 000 17, 940 1983
113-120 3.q0 40,000 16,380 1984
121-128 3.90 40,000 14,820 1985
129-137 3.90 45,000 13,162 1986
138-146 3.90 45,000 11,408 1987
147-155 3.90 45,000 9,652 1988
156-164 3. 90 45 000 7, 898 1989
165-173 3.90 45,000 6,142 1990
174-182 3. 90 45, 000 4, 388 1991
183-191 3.90 45,000 2,632 1992
192-200 3.90 45,000 878 1993
$785,000 $329,752
(Exhibit 20)
(See notes to financial statements)
This statement is an integral part of report dated July 6, 1973,
-65-
Exhibit 2 6
City of Brooklvn Center
Public Utilities Fund
STATEMENT OF REVENUE BONDS PAYABLE
December 31, 1972
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 red ee med 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
purpo se s and define s the manne r in which the activitie s 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.
1
-66-
C.itV of Brooklyn Center Exhibit 27
Transit Fund
BALANCE SHEET (COMPAR.ATIVE)
r>ecember 31, 1972 and 1971
December 31,
AS5ETS 1972 1971
Current Assets
Investments 5
Accounts receivable 64
Due from other funds 2, 190
Due from other governmental agencies 2, 999
Total Current Assets -0- 5, 258
Total Assets -0- 5, 258
LIABILITIES AND SURPLUS
Current Liabilities
Bank overdraft 4, 883
Vouchers payable 375
Total Current Liabilities -0- 5, 258
Fund Balance
Unappropriated Fund Balance (Exhibit 28) -0- -0-
Total Liabil:ities and Fund Balance -0- 5, 258
(Exhibit 1)
The Transit Fund ceased operations of an internal bus circulator system
on July 20, 1972. The books and records of the Transit Fund were closed by
order of the City Council dated September 11, 1972.
(See notes to financial statementsl
This statement is an integral part of report dated July 6, 1973.
-67-
t Exhibit 28
Citv of Brooklyn Center
Transit Fund
COMBINED STATEMENT OF REVENUE, EXPENDITURES
AND SURPLUS (COMPARATIVE)
Years 1972 and 1971
t
1972 1971
1
Unappropriated Fund Balance, January 1 -0- -0-
Add: Revenue
General fund appropriation 2, 911 6, 440
Metropolitan Transit Commission 6, 211 5, 000
Bus fares collected 2, 207 4, 175
B rooklyn C ente r C hambe r of C omme rce
I contribution 500
Brookdale Merchants contribution 172
Interest earned on temporary investments 5
Total Revenue 11, 329 16, 292
Deduct: Expenditures
Bus rent 10, 384 14, 861
Adve rti sing 945 1, 431
Total Expenditures 11, 329 16, 2q2
Unappropriated 5urplus, December 31 (Exhibit 27) -0- -0-
(See notes to financial statements)
This statement is an integral part of report dated July 6, 1973,
-68-
A5SETS
Cash on hand and in depositories
Inve stments
Accrued revenue
Due f rom othe r funds
Taxes receivable:
Current year's levy
Prior years' levies
Total Assets
LIABILITIES AND FUND BALANCES
Accounts payable
Due to othe r funds
Fund balances (Exhibit 30)
Total Liabilities and Fund Balances
(See notes to financial statements)
This statement is an integral part of report dated July 6, 1973, j
-69
Exhibit 29
City of Brooklyn Center
Trust and A�encv Funds
COMBIIVED RALANCE SHEET (COMPARATIVE)
December 31, 1972 and 1971
Agent For In Trust
Fi re Public
Department Employees' Police Combined Combined
Relief Retirement Pension Decembe r 31, Decembe r 31,
Association Association Fund 1972 1971
10 30,450 30,460 28,772
12,158 406,956 419,114 291,890
5, 551 5, 551 5, 517
2,076 1,379 3,455 7,443
796 1, 839 1, 552 4, 187 16, 571
1, 1 69 2, 759 1, 773 5, 701 3, 359
1, 965 18, 842 $44Z, 661 $468, 468 $353, 552
8,986 8,986 9,855
2, 715 2, 715
l, 965 7, 141 $447 661 456, 767 343, 697
.1 965 18, 842 $447, 661 $468, 468 $353, 552
(Exhibit 1)
r
_�o_
Fund Balance, January 1
Add: Revenue S
Real estate and personal property taxes
Insurance premiurn rebate
PERA contributions from enterprise funds:
Liquo r sto re s
Public Utility Fund
Employee contributions
Earnings on temporary
Balance and Additions
Deduct: Expenditures
Payment to principal of agency
W rite off of tax levy balance s
Refund of employee contributions
Actuarial study
Total Expenditures
Fund Balance, Decembex 31 (Exhibit 29
(See notes to financial stateme nts)
This statement is an integral part of report dated July 6, 1973.
71-
t CitV of Brooklyn Center Exhibit30
Trust and A�encv Funds
COMBINED STATEMENT
OF REVENUE, EXPENDITURE S AND FUND BALANCES
(COMPARATIVE)
Years 1972 and 1971
Fi re Public
Department Employees' Police Combined Combined
Relief Retirement Pension Total Total
Association Fund Fund 1972 1971
4, 449 5, 594 $333, 654 $343 697 $228, 805
32, 214 70, 259 59, 151 161, 62� 181, O11
23, 639 20, 495 44, 134 31, 546
9, 055 9, 055 8, 101
6, 544 6, 544 6, 110
18, 344 18, 344 20, 359
84 23, 901 23, 985 17, 584
60, 302 91, 536 $455, 545 $607, 383 $483, 516
58, 334 84, 378 $142, 712 $134, 935
3 17 20 313
7, 884 7, 884 4, 171
-0- 400
58,337 84,395 7,884 $150,616 $139,819
1,965 7,141 $447,661 $456,767 $343,697
-72-
ASSET5
Cash in depositories
Accrued interest receivable
Inve stment s
Face Premium or Cost
Value (Discount) Basis
Certificate of deposit 250, 000 250, 000
U, S, government securities 675, 000 $(12, 048) 662, 952
U. S, government agency securities 3, 263, 000 871 3, 263, 871
Construction loan certificates 1, 132, 000 1, 132, 000
Total Investments $5, 320, 000 $(11, 177)
Total Assets
LIABILITIES
Due contractors (Performance deposits)
Unclaimed cash (Law enforcement activities)
Due participating funds (Exhibit 33)
Total Liabilities
(See notes to financial statements)
This statement is an integral part of report dated Ju ly 6, 1973.
-73
Exhibit 31
City of Brooklvn Center
Inve stment T ru st Fund
BALANCE SHE�T (COMPARATIVE)
Decsmber 31, 1972 and 1971
December 31., December 31,
1972 1971
17, 595 64, 365
155, 885 94, 467
1
1 5, 308, 823 4, 863, 994
$5, 482, 303 $5, 022, 826
47, 557 55, 045
18 18
5, 434, 728 4, 967, 763
5, 482, 303 $5, 022, 826
Exhibit 1)
-74-
Exhibit 32
City of Brooklyn Center
Inve stment T rust Fund
STATEMENT OF EARNINGS (COMPARATIVE)
December 31, 1972 and 1971
Years Ended
December 31, December 31,
1972 1971
Interest Income
United States government securities $261, 977 $280, 965
Construction loans 57, 562 41, 830
Brooklyn Center securities -0- 320
Total Interest Income $319, 539 $323, 115
Expenses
Audit 711 750
Net In come Distributed t Pa rticipatin� Funds $318, 828 $322, 365�
i (Exhibit 33)
Explanation
The Investment Trust Fund was established in 1956 to provide a uniform
and consistent means for investing temporary surpluses of cash. Net income of
the fund is distributed annually to each of the participating funds on the basis of
the average yearly investment maintained by each fund. The net income and the'
effective rate of return on average investment by participatiz�g funds is shown
below by years.
Rate of Net
Year Return Income
1972 6. 30% 318, 828
1971 6. 66 322, 365
19'70 6. 30 250, 408
19b9 5. 90 164, 336
1968 5. 20 115, 880
1967 4. 48 85, 267 t
1966 4. 66 80, 884
1965 3. 80 61, 913
1964 3. 64 48, 367
1963 3. 18 45, 056
1962 3. 17 61, 129
1961 3. 05 55, 939
1960 3. 62 57, 908
1959 3 27 33, 494
1958 2. 62 14, 835
1957 3.12 9,938
1956 2. 77 1, 832
Total Distributed Earnin�s Since Inception of the Fund $1, 728, 379
(See notes to financial statements
This statement is an integral part of report dated Ju ly 6,]
75_
City of Brooklyn Center Exhibit 33
Investment Trust Fund
CHANGES IN PARTICIPATING FUND BALANCES
Year 1972
Balance Net Fund Income of Balance
January l, Additions 1972 December 31,
1972 Withdrawals) Distributed 1972
Special Assessment Funds
Bond Fund No. 1 28, 04� 18, 800) 1, 468 10, 709
1955 A 151, 827 66, 100) 9, 617 95, 344
1956 AC 165, 809 48, 400) 10, 544 127, 953
1956 B 9, 674 5, 301) 467 4, 840
1957 AB 22, 519 15, 800) 1, 053 7, 772
1958 A 127, 227 8, 901) 8, 110 126, 436
1958 B 171, 077 44 699) 10, 808 137, 186
1959 AB 130, 812 14, 799) 8, 300 124, 313
1960 AB 327, 444 6, 300) 21, 341 342, 485
1961 AB 357, 350 8, 400) 22, 726 371, 676
1963 A 195, 039 6, 201 12, 603 213, 843
1965 A 47, 818 3, 300 3, 224 54, 342
1966 A 58, 573 19, 527 4, 372 82, 472
1969 A 42, 632 28, 600 3, 579 74, 811
1970 Improvement Fund 7, 351 56, 348 2, 621 66, 320
General Debt Retirement Funds 54, 553 21, 357 4, 373 80, 283
Total Debt Retirement Funds $1, 897, 746 $(102, 167) $125, 206 $1, 920, 785
Other Funds
Undistributedtax settlement 1, 657 1, 657
General Fund 114 069 53, 712) 3, 057 63, 414
Poor Fund 28 8, 999 70 9, 097
Public Employees' Retirement 1, 696 10, 400 62 12, 158
Liquor Fund 34, 858 34, 000) 588 1, 446
Public Utilities Fund 1, 229, 652 219, 999 82, 835 1, 532, 486
1 Park Concession Fund 1, 345 1, 345) 53 53
Capital Projects Fund 343 152, 900 680 153, 923
Library Sales Fund 82, 342 5, 099) 5, 785 83, 028
Public Utilities Construction Fund -0- 25, 700 731 26, 431
Open Space Land Acquisition Fund 48, 803 48, 800) 1, 091 1, 094
Police Pension Fund -0- 200 1; 413 1, 613
Transit Fund 5 5) -0- -0-
Public Utilities Revenue Bond Fund -0- 23, 500 1, 160 24, 660
Federal Revenue Sharing Fund -0- 71, 210 187 71, 397
State Aid Construction Fund 1, 553, 528 (121, 300) 95, 700 1, 527, 928
Bond Fund 3, 348 -0- 210 3, 558
Total All Participatin� Funds $4 967 763 148, 137 $318, 828 $5, 434, 728
(Exhibit 32) (Exhibit 31)
(5ee notes to financial statements)
This statement is an integral part of report dated July, 6, 1973.
-76_
Investment in Fixed Assets
Land and land improvements
Building and building improvements
Park properties (including building)
Furniture and fixtures
Departmental equipment
Storm sewers and street projects
Total Investment in Fixed Assets
Sou rce s of Inve stment
General indebtedness
General fund revenues (includes ad valorem levies)
Liquor store revenue certificates
Contributions received
Special assessment projects:
Owners, contractors, and City share
Hennepin County
Capital projects fund:
General obligation bonds
Ad valorem tax levy 1968 and 1969
Sale of land
Transfers of surplus from speeial assessment debt service funds
Transfer from Mayor CounciPs Contingency Fund
Interest earnings on investments
ParkConcession Fund concessions revenue
Total Sou rc e s of Inve stment
(See notes to financial statements)
This statemerst is an i�tegral par� af report dated July 6, 1973.
77_
t CitY of Brooklyn Center Exhibit 34
SUMMARY STATEMENT OF GENERAL FIXED ASSETS
December 31, 1972
Balance Year 1972 Balance
December 31, 1971 Acquisitions Disposals December 31, 1972
306,934 2,079 309,013
2,708,215 22,863 2,731,078
1, 249, 549 160, 877 1, 410, 426
131, 909 14, 413 146, 322
859, 805 49, 321 9, 252 899, 874
7, 513, 941 278, 590 7, 792, 531
$12, 770, 353 $528, 143 9, 252 $13, 289, 244
605, 207 605, 207
1, 159, 581 $169, 365 9, 252 1, 319, 694
304, 571 30 4, 571
278, 630 42, 069 320, 699
7, 336, 761 278, 590 7, 615, 351
t 177,180 177,180
2, 250, 000 2, 250, 000
265, 243 265, 243
38, 654 38, 654
161,907 36,479 198,386
3,000 3,000
189, 619 956 190, 575
-0- 684 684
$12,770,353 $528,143 9,252 $13,289,244
(Exhibit 1
-78-
Exhibit 3 5
Citv of Brooklv� Center
SUMMARY STATEZv1ENT
OF GENERAL LONG-TERM DEBT AND INTEREST (COMPARATIVE)
December 31, 1972 and 1971
December 31,
Amount Available and to be Provided 1972 1971
Amount available in debt service funds (See Exhibit 10
Park bonds 33, 706 30, 436
Library bonds 8, 818 662
Building and improvement bonds 40, 199 29, 913
State aid street bonds 6, 370 6, 360
Certificates of indebtedness 10, 533 10, 025
Total Amount Available 99 626 84 396
Amount to be provided in future periods:
For interest $l; 986, 033 $2, 225, 191
For principal 3, 808, 5�7 3, 8$3, 500
Total Amount to be Provided $5,79 4, 570 $6, 108, 691
Total Amount Available and to be Provid�d $5, 894, 196 $6, 193, 087
General Debt and Interest to be Paid in Future Periods (Exhibit 36)
General debt (principal portion):
Park bonds 155, 000 175, 000
Library bonds 120, 000 130, 000
Building and improvement bonds 2, 235, 000 2, 270, 000
State aid street bonds 1, 005, 000" 1, 030, 000
Assessments on city properties (Note 8) 293, 537 278, 500
Total General Debt (Principal PortionkExhal�it3/�) $3, 808, 537 $3, 883, 500
Interest payable in future period:
Bonds (Exhibit 36 $2, 085, 659 $2, 309, 587
Total General Debt and Interest to be Paid in Future
Periods $5, 894, 196 $6, 193, 08?
Exhibit 1)
(See notes to financial. statements)
This stat�ment is an inte ral art of re ort dated Ju�. 6 1�73.
g P P Y
_79
General Debt Principal Portion
Payment Total Building State Aid Assessments
Due Principal Total Park Library Improvement Street Payable No Interest
Durin� Interest Princ.ipal Bonds Bonds Bonds Bonds General Fund
1973 411,699 192,600 20,000 10,000 110,000 25,000 27,600
1974 422,125 212,727 20,000 10,000 125,000 25,000 32,727
1975 416, 434 217, 727 20, 000 10, 000 130, 000 25, 000 32, 727
1976 444,457 257,727 20,000 10,000 140,000 55,000 32,727
1977 420,857 247,727 20,000 10,000 130,000 55,000 32,727
1978 412, 907 252, �27 20, 000 10, 000 135, 000 55, 000 32, 727
1979 389 632 242, 727 20, 000 10, 000 125, 000 55, 000 32, 727
1980 361,938 227,727 15,000 10,000 115,000 55,000 32,727
1981 338 216,725 10,000 120,000 55,000 31,725
1982 310,603 200,123 10,000 125,000 60,000 5,123
1983 298, 210 200, 000 10, 000 130, 000 60, 000
1984 290,570 205,000 10,000 135,000 60,000
1985 267, 545 195, 000 135, 000 60, 000
1986 2 59, 840 200, 000 140, 000 60, 000
1987 246,765 200,000 140,000 60,000
19gg 243, 660 210, 000 150, 000 60, 000
1989 229,875 210,000 150,000 60,000
1990 66, 075 60, 000 60, 000
1991 62,025 60,000 60,000
4 6 3 808 537 155 000 $120,000 $2,235,000 $1,005,000 $293,537
Totals $5, 89 19
(Exhibit 3 5) Note 8)
(See notes to financial statements)
_gp_ This statement is an :integral part of report dated July 6. 1973.
Citv of Brooklyn Center Exhibit 36
SCHEDULE OF
GENERAL LONG-TERM DEBT AND INTEREST BY MATURITIES
December 31, 1972
Inte re st Pavable
Building State Aid
Total Park Library Improvement Street
Interest Bonds Bonds Bonds Bonds
219 6,392 4,530 145,275 62,902
209, 398 5, 585 4, 160 138, 125 61, 528
193, 707 4, 765 3, 790 130, 000 60, 152
186, 730 3, 945 3, 420 121, 550 57, 815
173, 130 3, 125 3, 040 112, 450 54, 515
160, T80 2, 305 2, 660 104, 000 5I, 215
146 05 1 485 2 280 95 225 47,915
,9
134, 211 665 1, 900 87, 100 44, 546
122, 254 1, 520 79, 625 41, 109
110, 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, 700 22, 140
46, 765 28, 600 18 165
33 660 19 500 14, 160
19, 875 9, 750 10, 125
6, 075 6, 075
2, 025 2, 025
$2, 085, 659 $28, 267 $29, 580 $1, 346, 150 $681, 662
(Exhibit 35)
-81-
Citv of Brooklvn Center
NOTES TO FINANCIAL STATEMENTS
Year 197"L
Note 1: The City Charter grants the City Council full authority to control
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 s stem employed by the Public Utilities Fund
Y
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 Sheet All Funds and Account Groups (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.
-82-
Citv of B rooklyn Cente r
NOTES TO FINANCIAL STATEMENTS
Year1972
Note 3: Special Assessment Funds
These funds are used to account for construction and financing of
public improvements such as streets, curbs, storzn sewers, sanitary sewers
and the water system. The accounting is arranged so that the related
activities of project construction, financing of construction and the
assessment of costs to property owners are recorded within the same fund
entity. Budgetary accounts are employed to provide a means of control
over expenditures 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 project expenditures are verified with the
finance department.
The nominal differences on street and sewer projects between assessed
and actual costs, which are caused when costs are spread over many
properties, are guarenteed by the City. This amount is 10 for the year
1972. (See Exhibit 14.
Note 4: Municipal Liquor Fund
Merchandise inventories are valued at current wholesale prices
and the amount of cash discounts and promotional discounts ar� taken
into income as a reduction of cost of sales during the year of purchase.
This method of accounting for inventory and discounts facilitates the
preparation of internal reports because it establishes a uniform basis of
measuring gross profit margins. The uniformity of gross margin measure
is necessary for purposes of good internal control. (Periodically perpetual
inventories are verified by count and gross margins are examined in
the light of past experiences to detect any variances that may exist.
This method of valuation over states 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, 1972 and 1971 (on Exhibit l,6) are stated
approximately $16, 000 and $12, 000, respectively, over actual cost.
The effect on operating resuTts a� reflected for the Year 1972 on Exhibit 19
is immaterial because of the offsetting effect between beginning of the
year and end of the year inventory.
The Lyndale Avenue store (Store #1) and the Brooklyn Blvd, store
(Store #2) are located on city-owned properties. The lease fr.� the
Brookdale Shopping Center store (Store #3) expired January 31, 1972 and
operation at that location has been discon?:inued. Store #4 is located
in the Northbrook Shopping Center and �he premises are occupied pursuant
to terms of a lease which expires October 31 1976
-83-
Citv of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
Year 1972
Note 5: Public Utilities Fund
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 1971 231 9b9
1972 invesi,ment earnings 32, 925
Total Investment Earnings (Exhibit 20) 264, 894
Deduct:
Construetion expenditures thru 1971 631, 133
1972 construction expenditures 4, 444
Total Construction Expenditures 635, 577
Construction Account Balance (Exhibit 20) 629 317
Debt Retirement Fund (Exhibit 20)
Cash on hand with paying agent to redeem
coupons and principal maturing 1/1 /73 45, 821
Accumulated amounts set aside to meet
1973 requirements for interest and
principal
Cash 92
Investments with accrued interest 66 263
Reserve account investments 75, 000
Total Debt Retirement Fund 187, 176
-84-
Citv of Brooklyn Center
NOTES TO FINANCIAL STATEMENT5
Year 1972
Aiote 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 authorizing the sale of
revenue bonds is presented below:
Revenue
Construction Bond Reserve
Fund Account Account
Restricted Assets 12 /31 /72 $629, 317 $112, 176 75, 000
Less:
1) Liabilitie s payable from
restricted funds 45, 821)
21 Unexpended bord proceeds 364, 423)
Restricted Sur luses at 12 /31 /72� $264, 894 66, 355 75, 000
P
Investment plant expansion and related reserve
Since 1963 the Public Utility Fund has been accumulating funds
for the purpose of expanding their investment in plant and equipment to
supply water to the residents of the City. The present glan for expansion
of facilities has a cost estimate of $6, 184, 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, 022, 453 has been set aside or reserved to
partially meet the financing requirements of this capital budget. A plan
for the systematic accumulation of the remaining balance is currently
under study and is to be adopted during 1973,
Note 6: Public Utilitie s Fund
Annual depreciation charges to income (which are non-cash expenses)
have the effect of conserving monies or other current type assets within
the entity because they reduce the balance of retained earnings available
for purposes of rate reduction or transfer. A portion 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 which have been reinvested
in plant (1972, $905, 266; 1971, $892, 3Z4) and those amounts held in
Reserve (1972, $510, 034; 1971, $385, 381) as funded depreciation.
-85-
Citv of Brooklvn Center
NOTES TO FINANCIAL STATEMENTS
Year 1972
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
remaining 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 (1972, $11, 748, 567;
1971, $11 616 509) would be reflected net o£ depreciation provisions at a
total of (1972, $10, 333, 267; 1971, $10, 338, 664).
Note 7: Public Utilities Fund Metro 5ewer Board Receivable and Reserves
Pursuant to enacted legislation (Metropolitan 5ewer Act-
Chapter 449 Session Laws) the Metropolitan Sewer Board, as of
January 1, 1971, assumed ownership of all existing interceptors
and treatment work� 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
reimburse each local government for the cost of facilities acquired. This
cost or purchase price of facilities is based on depreciated replacement
cost value as of December 31, 1970 as determined by cost analysis
and engineering studies. This current value receivable is to be paid by the
Metropolitan 5ewer Board over a period of 30 years and the amount
will earn :interest at an annual rate of 4°�0. 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 1972 consisted of principal and
interest and the amount of credit offset against 1972 s�wer service
billings totaled $11, 485, leaving a balance due over the next 28 yeaxs
of $238, 389. (Exhibit 20)
-86-
Citv of Brooklyn Center
NOTES TO FINANCIAL 5TATEMENTS
Year 1972
Note 7: Public Utilities Fund Metro Sewer Board Receivable and Reserves
Cont'd In addition to providing for reimbursement of facility costs the
Act empowers the sewer board to defer certain reserve capacity costs
when they are disproportionate to the 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 ($64, 843, Exhibit 20) is collectible over the next five years.
The current value receivabl� $238, 904, and the current year
deferment charge, $64, 843, are restricted as 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 billings over a period
of thirty years (the term of 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 Exhibit 24) and the
amount remaining to be amortized in future years is reflected on
Exhibit 20 at the remaining amount of $91, 975.
Note 8: Summary 5tatement of General Lon Debt and Interest
Special assessments which relate to improvements benefiting
City-owned properties total $293, 537 as of December 31, 1972.
The payment for these improvements (with no interest charge) has
been scheduled over a period extending through 1982. These assess-
ments are obligations of the general fund and payment is planned under
normal budget procedures, whereby the needed monies will be appro-
priated during the years as each installment becomes due.
These notes are an integral part of report dated July 6, 1973.
-87-
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
1962 1963
Population 26, 585 (3�) 29, 203
Real Property
Assessed Value:
Homestpad 5, 735, 766 5, 816, 001
Excess and Non-Homestead 2, 831, 501 4, 106, 321
Tot al Assessed Value 8, 567, 267 9, 922, 322
Estimated Value:
Full and True $30, 021, 816 33, 596, 832
Market $90, 975, 200 $101, 808, 581
Personal Property
Assessed Value 1, 130, 847 1, 275, 51$
Estimated Value:
Full and True 2, 946, 702 3, 393, 313
Market 7, 940, 106 10, 179, 939
Total Real and Personal Property
Assessed Value 9 698 114 11, 197, 840
Estimated Full and True Value $32, 968, 518 36, 990, 145
Estimated Market Value $98, 915, 306 $111, 988, 520
Ratio of Total Assessed Value to Total
Estimated Full and True Value .29416:1 30272:1
Estimated Market Value 0980�4:1 09999:1
Per Capita Valuations
Assessed Value 361.09 397.04
E stimated Full and T rue Value 1, 227. 51 1, 311.. 57
Estimated Market Value 3, 682. 90 3, 970. 80
1
-88-
Schedule 1
CitY of Brooklyn Center
ASSESSED VALUE AND ESTIMATED TRUE VALUE AND
MARKET VALUE OF ALL TAXABLE PROPERTY
By Bud�et Years
1964 1965 1966 1967 1968 1969 1970 1971 1972 1973
29, 024 (E) 30, 108 31, 500 (E) 31, 570 31, 000 (E) 34, 306 (E) 34, 717 (E) 35, 173 36, 370 (E) 36, q08 (E)
5, 949, 469 6, 101, 889 6, 262 938 6, 378 859 10 148 53 2 11 70 877 2 2 72 3 i
9 9 1 4 59(2) 6, 882, 636 1 5, 9_ 6, 478(2) 5} i
4, 432, 475 5, 694, 244 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) �5)
10, 381, 944 11, 796, 133 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)
34, 879, 063 38, 711, 130 39, 765, 314 45, 335, 857 47, 862, 541 58, 283, 382 61, 796, 482 75, 340, 288 76, 641 045 5)
$104, 637, 189 $116, 133, 390 $119, 295, 942 $136, 007, 571 $143, 587, 623 $174, 850, 146 $185, 389, 446 $226, 020, 864 $229, 923, 135 $249, 328, 665
�1) �1) (1)
l, 336, 486 1, 258, 488 1, 222, 654 1, 301, 952 1, 574, 574 1, 603, 159 1, 619 077 1, 588, 260 1, 313, 422 2, 403, 743
3 575 4 3 36
9 9 4, 504 3, 271, 781 3, 511, 171 3, 410. 110 3, 510, 323 3, 548, 068 3, 464, 717 3, 576, 728 5)
t 10, 727, 847 10, 093, 512 9, 815, 343 10, 533, 513 10, 230, 330 10, 530 g69 10, 644, 204 10, 394, 151 10, 730, 184 5, 590, 100
(1) �1) �l) �1)
11,718,430 13,054,621 13,371,017 15,591,970 16,816,$94 20,943,746 22,265,388 27,560,202 27,770,379 91,081,877
38, 455, C12 42, 075, 634 43, 037, 095 48, 847, 028 51, 272, 651 61, 793, 705 65, 344, 550 78, 805, 005 80, 217, 773 5)
$115,365,036 $126,226,902 $129,111,285 $146,541,084 $153,817,953 $185,381,115 $196 ,033,650 $236,415,015 $240,653,319 $254,918,765
30473:1 31027:1 31069:1 31920:1 32799 33893:1 34074:1 34973:1 34619:1 5 I
O
.10158:1 .10342:1 .10356:1 .10640:1 .10933:1 .11298:1 .11358:1 .11658:1 .11540:1 .35730:1
403. 75 433. 59 424.48 493. 89 509. 60 610. 50 641. 34 783. 56 763. 55 2, 467. 81 (4)
1, 324. 59 1, 397. 49 1, 366. 26 1, 547.26 l, 553. 72 1, 801. 25 1, 882. 21 2, 240. 50 2, 205. 60 5)
3, 974. 82 4, 192. 47 4, 098. 77 4, 641. 78 4, 661. 15 5, 403, 75 5, 646, 61 6, 721. 49 6, 616. 81 6, 906. 87
Note s to Schedule
(1) Includes $306, 708 exempt property for replacement tax purposes authorized by laws of 1967, Chapter 32, extra session
2) Include s exce s s home stead
I 3) Exclude s exce s s home stead
(4) Determination of assessed valuation calculation changed by state law enacted in 1971; assessed value is now approximately three times as great as
before the enactment of the new law.
5) Due to above change, figures no longer available.
-89-
Area School District County
Year Voc-Tech #286 #279 #281 #11 Special
Collectible Citv School (Earle Brown) (Osseo) (Robbinsdale)(Anoka) Districts
�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, 70 81. 80 81. 84 29, 57
1956 42.70 175.50 120.80 95.40 85.80 33.70
1957 44.00 lOb.60 119.90 108.64 96 .55 31.87
1958 46, 47 126. 91 119. 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
1 9 6 2 4 8. 5 4 2 1 1. 5 9 1 7 9. 9 9 1 5 8. 6 9 1 3 4. 0 0 4 5. 4 0
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 b9
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 2q4.55 295.42 215.01 297.66 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. 71�1) 2. 644(1) 55. 786(1) 54. 023(1) 44. 72� 1) 54. 920(1) 27. 014(1)
Area Tax Levies on Prope rty Within Brooklyn 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 23g, 666 76, 912 170, 396 24, 547
1958 3C�3, 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
1961 497,907 665,299 320,697 43 ,880
1962 551,349 771,611 367,691 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 l, 003, 287 623, 412 171 926
1967 836 1,142,570 790,174 210,428
1968 888, 684 1, 200, 483 901, 846 295, 160
19b9 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 1, 506, 993 1, 317, 268 599, 411
(1) Formerly #118 (2) Formerly #28 (3) Formerly #24 (4) Formerly #29, #220
_qp_
City of Brooklyn Center Schedule TI
TAX RATES AND TAX LEVIES
Years 1953 Throu�h 1973
Tota� City, School, County and State N. H. S.
State Dist. #286 Dist. #279 Dist. #281 Dist. #11
N.H.S, H.S, (Earle Brown) (Osseo) (Robbinsdale) (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 3.98 261.05 206.35 180.95 171.35
9.15 3.81 191.62 214 193. 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. 82 268. 92 245. 29
17. 14 8.22 345 309 95 270.41 2_55, 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, 89 324 99 280 75 281. 99
352. 40 327. 91 279, 67 304.43
1 388.35 374.00 306.29 386.23
425.89 426.76 346.35 424.49
379.40 345.09 333.99 378.22
317.11 299.9b 281.07 297.17
100. 162(1) 98. 399 389. 103 96, 652
C ounty
Total Special
5chool Districts City State Total City, Schools, County State
233, 421 82, 946 74, 169 12, 765 403, 301
305,243 104,114 95,808 12,651 517,816
410, 787 136, 72$ 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, 86, 365
823, 954 252, 434 333, 000 54, 601 l, 463 989
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, 108 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, 721
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, 72q
5, 955, 600 1, G�4, 770 1, 090, 248 8, 740, 618
6, 346, 973 2, 099, 064 1, 202, 152 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
(1) Due to determination of assessed valuation calculation changed by state law
enacted in 1971, the resulting mi11 rate is approximately one-third as great
as before the enactment of the ne�v law.
Schedule III
City of Brooklyn Center
NOTES TO TAX RATES AND TAX LEVIE5
Years 1954 Throu�h 1973
Tax Limitation by Statute:
$54.00 per capita exclusive of taxes levied for local improvements
(as amended)
Debt Service not 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 1,
second half July 1
Real Estate first half May 31, second half October 31
No discount allowed
Penalties for Delinquency:
Personal Property 8
Real Estate June 3 July 4%, August 5%, 5eptember 6 October 7%,
November and December 8%, after first Monday in January 10%
Tax sale date second Monday in May
Taxes are collected by the County Treasurer of Hennepin County
Tax collections are distributed in the proportion of the City levy to all levies
-92-
Collections Percentage Collections
of Current of Levy of Prior
Total Year's Taxes Collected Year's Taxes
Year Tax During Fiscal During Fiscal During Fiscal
C ollected Levy Pe riod Pe riod Pe riod
1963 555, 178 545, 757 98. 30 4, 712
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, 069
1967 799, 792 776, 663 97. 11 7, 710
1968 868 ,807 851,452 98.00 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 l, 112, 685 90, 85 22, 252
1972 1 195, 237 1, 163, g12 97. 38 96, 219
Note The C ity' s taxe s a re the only one s inc luded in thi s table
-93-
Schedule IV
City of Brooklvn Center
TAX LEVIE5 AND TAX COLLECTIONS
Last Ten Years
Ratio of
Accumulated
Ratio Delinquent
of Total Accumulated Taxes to
Total Collections Delinquent Current Year
Collections to Tax Levv Taxes Tax Levy
550, 469 9915:1 14, 446 02602:1
581, 766 9900:1 19, 926 0339i
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 45, O11 05181:1
1, 053, 475 9862 59, 742 05593:1
1 106 797 9952:1 65, 026 05847:1
1, 134, 937 9267 30, 326 02476:1
1, 260, 131 1. 0543:1 48, 409 04050:1
-94-
Current Special
i
Assessrnents Amount Ratio of
Installments Becoming Collected Current
Fiscal Due During Currently During Collections to
Period the Fiscal Period the Fiscal Period Amount Due
1961 $383,274 $353,380 .9220:1
1962 $418,706 $383,202 .9152:1
1963 460,329 418,657 .9095:1
1964 449,253 383,848 .8544:1
1965 444 393,593 .8845:1
1966 429, 759 394, 942 9190: 1
1967 490,397 458,324 .9346:1
1968 505,409 466,466 .9229:1
1969 538. 959 476, 727 8845:1
1970 680 198 605, 385 8900: 1
1971 844, 933 660, 490 7817:1
1972 8 07, 317 647 695 8023: 1
_9 5
City of Brooklyn Center Schedule V
SPECIAL A5SESSMENT COLLECTIONS
Last Tweleve Years
Total Current and
Delinquent Pe rcentage Balance
Assessments Uncollected Collectect Uncollected
At Year End Throu�h 12 /31 /72 As of 12 /31 /72
45 796 99 3156 2, 623
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 2 3 6
99. 926 4 9
i 142,441 99.1530 4,281
136, 043 98. 1468 9, 988
165, 592 98. 5931 9, 570
232, 71? 91, 4251 72, 452
270,543 80.2281 159,622
-96-
Penaltie s and
Inte re st Lic ense s Fines
Fi s c al F rom and and
Period Property Taxes Permits Forfeitures
1963 4,647 32,308 24,813
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 82,098 31 ,490
1969 6,296 77,773 44,031
1970 10,076 49 ,859 57 ,970
1971 31,792 67,837 53,638
1972 17,471 110,455 37,172
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i
Schedule VI
City of Brooklyn Center
REVENUES OTHER THAN PROPERTY TAXES
AND SPECIAL ASSES5MENT5
Last Ten Years
Revenue from Charges for Revenue in Excess
Use of Current of Expenditures
Shared Money and Services and other Public Liquor
Taxe s P rope rty Revenue Utilitie s 5to re s
0 68 28, 451 88, 573 50, 460 89, 058
$1 2, 9
101, 578 20, 671 217, 644 83 793 �99 565
122,588 29,954 129,819 55,024 106,541
24 540 249,364 109,256 114,227
156, 536
1 232, 615 40, 025 118, 511 125, 962 125, 310
325,221 82,641 113,947 131,280 146,551
i
296,639 61,581 339,363 161,925 175,884
376, 359 47, 322 125, 944 331, 351 172, 761
I 414, 936 37, 070 233, 537 276, 935 168, 406
612,277 33,494 251,775 183,651 133,972
j
t
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i
Schedule VII
City of Brooklyn Center
EXPENDITURES FOR 5ELECTED FUNCTIONS
Last Ten Yeaxs
Public Parks
Fiscal General Sa.fety and and
Period Government Welfare Hi�hwavs Recreation
1963 173,736 194,900 229 125,352
1964 169,019 230,102 293,301 175,04g
1965 194,888 258,719 291,306 167,042
1966 218 ,335 290,232 306,616 310,219
1967 217,138 338;187 326,357 235,834
1968 244,010 391,394 359,428 235,723
1969 250,841 449,426 484,154 238,011
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
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Gross
Fiscal E stimated A s se s sed B onded
Pe riod �opulation V alue Debt
1962 26,858 9,698,114 5,217,400
1963 28,203 11,197,840 5,396,100
1964 29,024 11,718,430 5,607,800
1965 30,108 13,054,621 5,188,500
1966 31,500 13,371,017 5,263,200
1967 31, 570 15, 591, 970 4, 784, 800
1968 33,000 16,816,894 5 068 400
1969 34,306 20,943,746 7,626,400
1970 35, 173 22, 265, 388 10, 733, 000
36 370 27 560 202 10 005 000
197�
1972 36, 908 27, 770, 379 9, 291, 000 t
j
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5chedule VIII
City of Brooklyn Center
�2ATI0 OF NET BONDED DEBT TO A5SESSED VALUE
AND NET BONDED DEBT PER CAPITA
Last Eleven Years
Less: Amount Ratio of Net Bonded Debt to Net Bonded
in Debt Net Bonded Assessed Debt Per
Service Funds Debt Values Capita
2, 097, 219 3, 120, 181 3217:1 116. 17
920, 472 4, 475, 628 3996:1 158. 69
1, 031, 779 4, 576, 021 3904:1 157. 66
1, 591 659 3, 596, 841 2755:1 119. 46
1, 499 �9b 3, 764, 104 2815:1 119. 49
1,773,834 3,010 .1931:1 95.37
1, 986, 325 3, 082, 075 1833:1 93. 40
1, 534, 261 6, 092, 139 2909: 1 177. 58
1, 805, 385 8, 927, 615 4010:1 253, 82
1, 793, 277 8, 211, 723 2980:1 22 5. 78
1, 774, 258 7, 516, 742 2707:1 203. 66
1
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Schedule IX
City of Brooklyn Center
5TATEMENT OF LEGAL DEBT MARGIN
December 31, 1972
Assessed value $91, 081, 877
Debt limit 6. 67% of assessed value 6, 075, 161
Total bonded debt $9, 291, 000
Deductions:
1. Debt 5ervice Funds
(General Obligation) 67, 415
2, Special Assessment
Bonds 4, 991, 000
3. Utility revenue bonds 785, 000 $5, 843, 415
TotaT Debt Applicable to Debt Limit 3, 447, 585
Le�al Debt MarQin, December 31, 1972 2, 627, 576
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Schedule X
Citv of Brooklyn Center
COMPUTATION OF DIRECT AND OVERLAPPING DEBT
�e cember 31, 197Z
City of Brooklyn Center
Share
Net Debt
Governmental Unit Outstandin� (1) Per Cent (2) Amount
City of B rooklyn Cente r 7, 516, 742 100. 00% 7, 516, 742 3)
Hennepin County 17, 921, 183 2. 7 483, 872
Hennepin County Hospital 21, 012, 568 2. 7 567, 339
Hennepin County Park District 9, 384, 282 2. 7 253, 376
Hennepin County Library 9, 487, 379 4. 8 455, 394
I. S. D, No. 281 37, 228, 000 10. 2 3, 797, 256
I.S.D. No. 11 41, 265, 675 5. 9 2, 434, 675
I. S. D. No. 279 26, 682, 781 26. S 7, 150, 985
I. S. D. No. 286 2, 600, 000 100. 00 2, 600, 000
I,S,D, No, 287 (Vocational) 23, 822, 770 4, 9 1, 167, 316
Metropolitan Council 127, 051, 000 1. 5 1, 905, 765
Metropolitan Transit Commissipn 9, 991, 167 1. 5 149, 868
1
Total Direct and Overlappin� Debt (Net of 5inkin� Funds) $28, 482, 588
(1) Gross outstanding general bonded debt less amounts in debt service funds
(2) Ratio of assessed valuation of property subject to taxation in overlapping
unit to value of property subject to taxation in the City of Brooklyn Center
(3) Includes $3, 422, 753 net debt outatanding to be paid from special assessments
1
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Year Principal Intere st
1963 33,000 14,800
1964 33,300 13,855
1965 33,300 14,977
1 66
9 50,800 24,213
1967 59,400 22,280
1968 51,000 19,604
1969 51 000 37, 608
1970 49, 600 164, 778
1971 68,800 228,351
1972 90,000 223,927
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5chedule XI
City of Brooklyn Center
RATIO OF ANNUAL DEBT SERVICE EXPENDITURES FOR GENERAL
BONDED DEBT TO TOTAL GENERAL EXPENDITURES
Last Ten Years
Total Total Ratio of Debt
Debt General Service to General
Service Expenditures Expenditures
47 800 772, 978 6. 18
47, 155 882, 557 5. 34
48, 277 942, 720 5. 12
75, 013 l, 335, 428 5. 62
81, 680 1, 185, 075 6. 89
70,604 1,369,842 5.15
88, 608 1, 591, 987 5. 57
214,378 1 12,77
297, 151 2, 210, 671 13. 44
313,927 2,219,355 14.14
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I
Net
Gross 1) Revenue
Year Revenue Expenses Available
1963 490, 524 242, 525 247, 999
1964 638,094 239,356 398,738
1965 586,979 291,643 295,336
1966 753,829 269,371 484,458
1967 669,098 282 ,528 386 ,570
1968 743,316 292,818 4�0,49$
1969 854,367 360,249 494,118
1970 1,060,322 400,824 659,498
1971 1, 140, 730 558, 189 582, 541
1972 768, 673 447, 567 321, 106
(1) Excludes depreciation and interest on bonds.
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Schedule XII
City of Brooklyn Center
SCHEDULE OF REVENUE BOND COVERAGE
Last Ten Years
Ratio of Net
Debt Service Revenue to
Principal Interest Total Debt Service
13, 000 21, 572 34, 572 2 to 1
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► 300 7. 3 to 1
30, 000 31, 767 61, 767 5. 2 to 1
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City of Brooklyn Center Schedule X1�II
MISCELLANEOUS STATISTICAL FACTS
December 31, 1972
Date of Incor oration Februar 14, 1911
P Y
Date of Adoption of City Charter November 8, 1966
Effective December 8, 1966
Form of Government Council Manager
Fiscal Year Begins January 1
Area of City 8 1/2 square miles
Miles of Streets:
Gity 97. 94
Stat e 12 3 8
County 5. 82
Miles of Storm Sewers 36. 90
Number of Street Ligh�,s 785
Building Permits:
Number of Permits Issued:
1972 708
1971 425
1970 404
1969 460
1968 544
1967 493
1966 430
1965 465
1950 1964 inclusive 9, 452
Estimated Cost:
1972 $19, 907 041
1971 8, 4$7, 763
1970 7, 499, 386
1969 $10 ,441,322
19bg $13 ,111,654
1967 7,922,813
1966 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
Numbe r of Employe e s 3 5
Vehicle Patrol Units 8
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Schedule XIII
C ont' d
City of Brooklvn Center
MISCELLANEOUS STATISTICAL FACTS
December 31, 1972
Parks and Recreation:
288 acres developed for regular use, 200 additio.nal acres of City-
owned land designated for parks and playgrounds to be developed.
Full-time employees 14
Part-time employees 350 (seasonal)
5upervised playgrounds 1?
Park shelters 17
Ice skating rinks 17
Hockey rinks 6
Softball diamonds �6
Baseball diamonds 5
Wading pools 2
Tennis courts 4
Basketball courts 6
Education:
Public 5chools:
School Districts within Brooklyn Center (4)
No. 11 No. 286 No. 281 No. 279
(Anoka) (Earle Brown) (Robbinsdale) Osseo
Total �chool buildings 32 2 27 17
School buildings under
construction
School buildings within
Brooklyn Center 1 2 1 3
Total students
registered 31, 179 2, 381 26, 240 13, 700
Students from Brooklyn
Center registered 1, 584 2, 381 1, 877 5, 550
Total square miles in
School District 172 2. 30 66. 5
Square miles within
Brooklyn Center 1. 5 2. 8 2.25 2. 5
1972 assessed
valuation 196, 658, 993 22, 820, 936 307, 952, 064 110, 863, 587
1972 assessed
valuation in
Brooklyn Center 11, 283, 095 22, 820, 936 29, 273 929 27, 676, 141
Parochial Schools (1)
St. Alphonsus School (grades 4-8) Total students registered 278
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Schedule XIII
Cont'd
Citv of B rooklyn Cente r
MISCELLANEOUS STATISTICAL F1�CTS
Deceml�er 31, 197�
Munici al Water Plant:
P
Number of connections 6, 449
Average daily consumption 2, 637, 279 gall,ons
Peak daily consumption 7, 613, 000 gallons
Plant capacity daily 12, 384, 000 gallons
Miles of water mains 101. 7521
Number of fire hydrants 7�9
Number of wells 7
Number of elevated reservoirs 2
Storage capacity 1, 500, 000 �allons
Water rate per thousand gallons 35�
Municipal Sewer Plant:
Number of connections 7, 701
Miles of sanitary sewer 96.3322
Average daily disposal 2, 589, 000 gallons
Daily disposal capacity 7, �16, 000 gallons
Number of lift stations 9
Residential rate $8. 75 per quarter
Municipal Liquor Stores (Off Sale): r
Number of owned stores 2
Number of leased stores
1972 sales $1, 450, 456. 38
City Emplqyees:
As of December 31, 1972
Pe rmanent o�r �e gula r 112
Temporary or part-time 163
Total 275
Elections:
General elec�ion 1972 19 142
Number of votes cast in general election 14, 807
Percentage of registered voters voting 77. 4%
Registered voters last state election 15, 080
Number of votes cast last s�ate election 10 964
Percentage of registered voters voting 72, 7%
Population:
1940 1, 870
1950 4,284
1960 24,, 356
1965 (special census) 30, 108
1970 35, J, 73
Estimated residentia.l saturatior� point 49, 000
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