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Home My WebLink AboutAnnual Audited Financial Report-1971 ANNUAL AUDITED FINANCIAL REPORT of the CITY MANAGER of BR40KLYN CENTER, MINNESOTA For The Year Ended Detember 31, 1971 DONAI,D G. POSS, CITY MANAGER Prepared by THE DEPARTMENT OF FINANCE Paul W. Holmlund, Director (Member of Municipal Finance Officers Aasociation of the United SMtes and Canada) City of Brooklyn Center ANNUAL FINANCIAL REPORT For the Year Ended December 31, 1971 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 Transmittal 7 General Comments 8, 9, 10, 11, 12, 13 Financial 5tatements Section Auditor's Re ort P 14, 15 Coml�ined Balance Sheet December 31, 1971 1 16, 17 General Fund Statements Balance Sheet December 31, 1971 2 18 Analysis of Changes in Unappropriated Surplus Year 1971 3 19 5tatement of Revenue Estimated and Actual Year 1971 4 20, 21 Statement of Expenditures, Appropriations And Encumbrances Year 1971 5 22, 23 Statement of Expenditures and Encumbrances Classified as to Activity, Character and Object Year 1971 6 24, 25 City of Brooklyn Center ANNUAL FINANCIAL REPORT For the Year Ended December 31, 1971 TABLE OF CONTENTS Exhibit Page Numbe r Numbe r Special Revenue Funds Statements Combined Balance Sheet, December 31, 1971 7 26 Combined Analysis of Changes in Unappropriated Surplus Year 1971 8 27 Combined 5tatement of Revenue and Expenditures Year 1971 9 28 Capital Pro,jects Fund Statements Combined Balance Sheet December 31, 1971 10 29, 30 Combined Statement of Appropriations and Expenditures Year 1971 11 31, 32 Debt 5ervice Funds Statements Combined Balance Sheet December 31, 1971 12 33, 34 Combined Statement of Revenue, Expenditures and Surplus Year 1971 13 35, 36 5pecial Assessment Funds Statements Combined Balance Sheet December 31, 1971 14 37, 38 Combined Statement of Revenue, Expenditures and Unappropriated Surplus for Debt Retirement Year 1971 15 39, 40 Statement of Construction Expenditures, Compared to Appropriations and Assessment of Costs Year 1971 16 41, 42, 43 City of Brooklyn Center �NNUAL FINANCIAL REPORT For the Year Ended December 31, 1971 TABLE OF CONTENTS �xhibit Page Numbe r Numbe r �pecial Assessment Funds Statements, Cont'd Statement o£ Long-Term Debt (Principal Amount) December 31, 1971 17 44 Public Service and Enterprise Funds Statements Municipal Liquor Fund Balance Sheet December 31, 1971 18 45, 46 Analysis of Changes in Surplus Year 1971 19 47 Statement of Income and Expense Year 1971 20 48, 49 5tatement of Long-Term Debt December 31, 1971 21 50, 51 Public Utilities Fund Balance Sheet December 31, 1971 22 52, 53 5tatement of Operations and Retained Earnings Year 19 71 23 54 Water Department Operating Expenses Year 1971 24 55, 5(� Sewer Department Operating Expenses Year 1971 25 57, 58 Summary Statement of Plant and Property and Provisions for Depreciation December 31, 1971 26 59, 60 Statement of Long- Te rm Debt Bonds Payable and Contracts Payable December 31, 1971 27 61, 62 Transit Fund Balance Sheet December 31, 1971 28 63 Combined Statement of Revenue, Expenditures and Surplus Year 1971 29 64 -City of Brooklyn Center �NNUAL FINANCIAL REPORT For the Year Ended December 31, 1971 TABLE OF CONTENT5 Exhibit Page Numbe r Numbe r Trust and A�ency Funds Statements Combined Balance 5heet December 31, 1971 30 65, 66 Combined Statement of Revenue, Expenditures and Fund Balances Year 1971 31 67, 68 Investment Trust Fund (A fund to accomodate the invest- ment of temporary cash surpluses) Balance Sheet December 31, 1971 32 b9 Statement of Earnings Year 1971 33 70 Changes in Participating Fund Balarices Year 1971 34 71 General Fixed Assets and General Long-Term Debt Summary Statement of General Fixed Assets December 31, 1971 35 72, 73 Summary Statement of General Long-Term Debt and Interest December 31, 1971 36 74 Schedule of General Long-Term Debt and Interest by Maturities December 31, 1971 37 75, 76 Notes to Financial Statements Note 1 All Funds 7 7 Note 2 Special Assessment Funds 77 Note 3 Municipal Liquor Fund 77� 78 Note 4 Municipal Liquor Fund 78 Note 5 Public Utilities Fund 7$, 7q Note 6 Public Utilities Fund 8p Note 7 Public Utilities Fund 80, 81 Note 8 Summarv Statement of General Lon�-Term Debt and Inte re st 82 Note 9 All Funds 82 'City of Brooklyn Center ANNUAL FINANCIAL REPORT F.or the Year Ended December 31, 19�1 �ABLE OF CONTENTS Page �chedule Number Statistical Information Section Assessed Value and Estimated True Value and Market Value of All Taxable Property by Budget Years 1 $3, 84 Tax Rates and Tax Levies Years 1953 Through 1972 II 85, 86 Notes to Tax Rates and Tax Levies III 87 Tax Levies and Tax Collections Last Ten Years IV 88, 89 Special Assessment Collections Last Ten Years V 90, 91 Revenues Other Than Property Taxes and Special Assessments Last Ten Years VI 92, 93 Expenditures for 5elected Functions Last Ten Years VII 94 Ratio of Net Bonded Debt to Assessed Value and Net Bonded Debt Per Capita Last Ten Years VIII 95 96 Statement of Legal Debt Margin December 31, 197Y IX 97 Computation of Direct and Overlapping Debt December 31, 197'1 X 98 Ratio of Annual Debt Service Expenditures for General Bonded Debt to Total General Expenditures Last Ten Years XI 99 100 Schedule of Revenue Bond Coverage Last Ten Years XII 101, 102 Miscellaneous 5tatistieal Facts XIII 103, 104, 105 THE MUNICIPAL FINANCE OFFICERS ASSOCIATION OF THE UNITED STATES AND CANADA lCtrt[fit�ac t�jat THE ANNUAL FINANCIAL REPORT OF l��e Cit of Bro oh� n Cen ter Minn es��a v y �or the �ear. �nded December3l 1966 SUBSTANTIALLY CONFORMS 'TO THE PRINCIPLES AND STANDARDS OF PUBLIC FINANCIAL REPORTING AS PROMULGATED BY THE �uniapai �'inaiuc �ffucrg �ggociation .lND THE .�ationar �Cotnn�ittcc o�t iobcrntncntal �uountittg Pr�aenced Se tember 1 ,1y67. P 9 ciw.�, c�a� o� nr�u.. r r r �w r �r CITY OF BROOKLYN CENTER, MINNESOTA CERTIFICATE OF CONFORMANCE (Jn September 19, 1967, the MUNICIPAL FINANCE OFFICERS ASSOCIATION OF THE UNITED STATES AND CANADA certified that the Annual Audited Financial Report of the City of Brooklyn Center, Minnesota For The Year Ended December 31 1966 conformed to the principles and standards of public financial reporting as promulgated by the Municipal Finance Officers Association and the National Committee on Governmental Accounting, A Certificate of Conformance is awarded by the Municipal Finance Officers Association 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 es�ablished by the Association. These standards are contained in publications of the National Committee on Governmental Accounting. I We believe our present annual report for the year ended December 31, 1971 continues to conform substantially to such standards. DEPARTMENT OF FINANCE CITY OF BROOKLYN CENTER City of Brooklvn Center LISTING OF CITY OFFICIALS For the Year Ended December 31, 1971 Elected Officials .Term of Office Term Expires Mayor Philip Cohen Two Years 12-31-73 Councilman Howard Heck Three Years 12-31-72 Councilman John Leary Three Years 12-31-73 Councilman Theodore Willard Three Years 12-31-71 Councilman Vernon Ausen Three Years 12-31-?2 Officials Not Elected City Manager ponald G. Poss C ity C le rk Allen 5. Lindman City Treasurer Paul W. Holmlund City Attorney Richard Schieffer Administrative Assistant A. Blair Tremere Department Heads: Finance Paul W. Holmlund Public Works James Merila Police Thomas G. O'Hehir Fire Donald Mason Protective Inspection Jean R. Murphey Parks and Recreation Eugene Hagel Assessment John Nordberg Liquor 5tores Truman Nelson Street 5uperintendent Henry Davis Public Utilities Superintendent Frank Smith, Jr. Recreation Superintendent Arnold Mavis Assistant City Engineer Gerald Butcher Health Officer R. I. Shragg, M. D. Fire Marshall Robert Cashman Sanitarian Martin Winston -3- City of Brooklyn Center LISTING OF CITY OFFICIALS At June 30, 1972 Elected Officials Te rm of Office Te rm Expires Mayor Philip Cohen Two Years 12-31-73 Councilman Howard Heck Three Years 12-31-72 Councilman John Leary Three Years 12-31-73 Councilman Vernon Ausen Three Years 12-31-72 Councilman Maurice Britts Three Years 12-31-74 Officials Not Elected City M:anager ponald G. Poss City Clerk Allen S. Lindman City Treasurer Paul W. Holmlund City Attorney Richard Schieffer Administrative Assistant A. Blair Tremere Administrative Assistant Daniel Hartman Department Heads: Finance Paul W. Holmlund Public Works James Merila Police Thomas G. O�Hehir Fire Donald Mason Protective Inspection Jean R. Murphey Parks and Recreation Eugene Hagel Assessment John Nordberg Liquor Stores Truman Nelson Street Superintendent Henry Davis Public Utilities Superintendent Frank 5mith, Jr. Recreation Superintendent Arnold Mavis Health Officer R. I. Shragg, M. D: Fire Marshall Robert Cashman Sanitarian Martin W.inston -4- ORGANIZATION CHART, COUNCIL MANAGER PLAN CITY OF BROOKLYN CENTER, MINNESOTA CHARTER COMMISSION ELECTORATE ADVISORY Capital Improvements Review Bd. CITY COUNCIL ADVISORY Mayor CITY ATTORNEY Conservation Commission 4 Councilmen Administrative Assistant City Clerk ADVISORY Hurnan Rights �ommission rCITY MANAGER Purchasing Officer ADVISORY Administrative Assistant Youth Advisory Commission Planninq v' _r=` i ADVISORY Administrative Assistant Planning Commission Research ADVISORY Park and Recreation Commission DIREC�OR �DIRECTOR HEALTH CHIEF CF�IIEF MANAGER DIRECTOR ASSESSOR� IN3PECTOR Volunte��er Liquor Park ity Treasurer Protective Fire Store Civil Tax Recreation Finance SANTTATION Def�nse Assessment Department Department Inspection Dept Department CHIEF Police Dept DIRECTOR Public Works Dept. Patrol Administrative Detective City Enqineer Superintendent Superintendent Division Division Division En ineering Street Public Utilitie� �ivision Division Division w w� r �U// i oi. n� �wq� �N i�� -u I�� ,I �I 1� =3I�,i�� U�1��,�1' I ��I� N r� 1 �J��1 I �/I�I�N I� i 1 C�� i�� .I �i m m� N �.IC.�C ��__�C �-�M 1 ..q�;q�u� Y� l��l�-l�� m um �2 •11.-- _c� ��5e�e: T :q'%.�:'9.�� :51e'e�eef� i::". e I ii :.:.;C-- 1===.:.... -T;?.� �b 'L"a 1 1 nuiwo� i S�N1�� =L -�xu�uw 11' u� �n ��z r�iP11� f"_r�:��;�� a�� ,I �ai� �r5�e'��=�i::: -�__:=ee 1 j;�l_�� o' i%•�� f�; =i=:�: I€�= /I�;?=J m��s� F i s i :f: 1� =s 1 4 �i�.nn n �=�1=7�=� ;"=!'y''`�'� °'==''"Is=''�� !�I'�� =I �S'7�i� tM�ir.�: iw1T.�.wn,�C:M I �I� I�• �y� ��_°�l 3 �e a[ I ON J� 4w�� 1��'i•N1j ��L-- ��n4�� l�li/ .�p��.�,.�.�� 1 N __'•'�N ��il i �VII� N i::.nu i �N�� %��i//j �ii�� i S i .j �N* U�N�h i� �j' 1� i;'--�. t ..................0 n.�.: «........u.�i.m� 1� x::l1in i "%i- I��.r.� n�nTi�wn�iN�CEirii r o� IINII j�� 33 I ��I�S��d ly I�IM��iia �-l�i ��s 1'�� :e-.:=•=� 5l: ��==1?� N� �a., Ia;�==�� 3� ��i..nw:�ua.�,►��1�ii dmT w N N I4-� s e �!I C iuiiiii:�iiiuiN'� l�� 1 �xw�x�wn, C+ �m:" .w .ouuu p i�iu �S� ��wri� �F �uou�; �':ie= 1 p�� Ilq� I, S \>i. Gu mu 951�iE= "'�ii'•' ,��r�' \.�l.",', e�' =x s i o.-� N��- ,�t s- ��u ��i i: 9Z �N�,,,,,,� I ��-'�'+r.�-��,,, I iiii, ��E:�� e�i3n=' sSls e', i ',''�=`'17l1��. Ipe� iLCa�� •�''S �i ��^�7.79�1M. �Q N'� I_ N ��I�L� I� �S�S:� I (�r� N ,i'�'� �il� xT:�T :a s�c� %'2_� o ss ".iii 3i� �y 1= 8? 'se';e :g C� i a i� p�p�� e �e =?�i5 is :�n _�i� �C J I -I3 T S�:=i ill�M_ �rpN�'�� .:1 .5 II I /I y�i��llll en.�� J T� �i S� S i 3� a ====i::� �_e:=n ��=i =`e �i„.��.. n m� j' L i 3dl�u ��1�� S n� �j 1 j IIITpN111��'r• O� Jp� .i i� �i �IHI�� il'll\ w�N n �nu�ann_�n�ni� a a i i%��s�� l= �o�ii' t� �7 ��9�� a� _i' s �`l n w 3' P�: �::�i� ��E' S� s ��Nii�iiY�Syi" i 'i ti'C� Gi g= SSI 3��p1 �I°' �z�� y�iMlNf�� j'��\ �I ��ii tli s`Is'�_ s! !i� L! 1 I��N� e 1- -i �4I�1 E�_ ��I�al I 1� �liw«IhnJi�i A�'i i! ✓r 1 ��e�,�ii�� r —t. i I ��li L� I i i �Gi�� C- c oF ADMINISTRATIVE OFFICE OOKLYN 6301 SHINGLE CREEK PARKWAY BROOKLYN CENTER, MINNESOTA 55430 ENTER, TELEPHONE 561-5440 MINNEAPOLIS I June 30, 1972 To the Mayor and Council City of Brooklyn Center, Minnesota Gentlemen: Section 7. 12 of the Cit Charter re uires the Cit M er y q y anag to submit an audited report to the Council covering the entire financial operations of the City for the past year on or before the last day of June. A summary of that report shall be published in the official city newspaper on or before July 31 of each year The annual audited financial report of the City for the year ended December 31, 1971, prepared by the Department of Finance under my general supervision, is submitted for your consideration. i The summary of the report will be published in the Brooklyn Center Post on July 27 1972 pectfully submit Donald G Poss City Manager -7- "��IUn� �i2 �2e �u�� City of Brooklyn Center GENERAL COMMENTS Or�anization Brooklyn Center was incorporated as a Village on February 14, 1911, and became a City of the second class on December 8, 1966 thirty days from the adoption of the City Charter by a referendum vote of the people. The form of government established by the Charter is the "Council- Manager Plan". The Council exercises the legislative power of the City and determines all matters of policy. The Council is com osed of a Ma or and P Y four Councilmen who are el ected at large. Each Councilman ser��es a term of thxee 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 Cit s h C p y a t e ouncil may require. The offices of City Clerk and City Treasurer are subordinate to and appointed by the City Manager. The City Clerk has duties in connection with the keeping of the public records. The City Treasurer has duties in connection with the receipt, disbursement and custody of public funds. The City Attorney is appointed by the Council. All other officers and employees of the City are appointed by the City Manager. Appointment or removal of department heads are made final upon a majority vote of the Council. -8- I City of Brooklyn Center I i GENERAL COMMENTS I Financial Control and the Bud�et The City Charter grants the City Council full authority over the financial affairs of the City. The Charter requires that all funds of the Cit exce t funds made up of roceeds of bond issues, public service Y P P enterprise funds, and special assessment funds, be budgeted. The City Manager is charged with the responsibility of preparing the estimates of h and the nfo cement of the rovisions of the bud et as t e annual budget e r p g specified in the budget resolution. Upon adoption of the annual budget resolution by the Council it becomes the formal budget for City operations. After the budget resolution is adopted, the Council can increase the budget only if actual receipts exceed the estimates or from accumulated surplus in the amount of an unexpended appropriation from the previous fiscal year. Financial reports, which compare actual performance with the budget are prepared monthly and presented to the Council so the Council is able to review the financial status and measure the effectiveness of the budgetary controls. Governmental budget procedures are not used in connection with the liquor stores or public utilities operations, because these operations are primarily of commercial nature and employ concepts peculiar to revenue producing entitites. A summary of the budget document as originally adopted (prior to subsequent amendments) for the calendar year 1971 follows: -9- e ity of B rooklyn C ente r GENERAL COMMENTS Financial Control, Cont'd Proposed Expenditures (Public Service Enterprises Excluded) City operations (General Fund) $2, 035, 475 Poor relief 13, 500 Firemen's Relief Association 41 596 Debt service 224, 274 Public Employee s' Retirement 71, 500 Policemen's Pension Fund 67, 600 Total Proposed Ex enditures $2, 453, 945 Proposed Source of Financing Taxation see summary of taxation presented below) $1, 224, 032 Shared taxes (state and federal) 384,456 Civil Defense reimbursement 4 626 Local revenues: Liquor stores $140, 000 Permits, penalties, licenses and fines 111, 500 Engineering and clerical fees 50, 000 Services to public utilities fund 10, 567 Recreation receipts 145, 675 Services and other 52, 219 Rent 10, 000 519, 961 Transfers of Surplus: General Fund surplus $259, 349 Liquor Fund surplus 61, 521 320, 870 Total Proposed Financin� $2, 453, 945 -10- City of B rooklyn Center E E L EN G N RA COMM TS Financial Control, Cont'd Ad valorem tax levies for the current year 1971 and for the two previous years (1970 and 1969)are summarized and presented below: �i971 1970 �L969 Mill Rate Amount Mill Rate pa.mount Mill Rate Amount Tax Levy City operations 29. 61 821, 662 25. 98 581, 897 31. 18 653, 882 Poor relief 49 13, 500 36 8, 000 20 4, 000 Firemen's Relief Association 1. 50 41 596 1. 95 43, 496 1. ?8 37, 320 De�t service 7. 50 208, 174 12. 72 284, 733 2. 67 55, 497 Public Employees' Retirement 2. 58 71, 500 3. 00 67, 000 3. 02 63, 400 Policemen's Pension Fund 2. 43 67, 600 2. 73 61, 000 2. 55 53, 443 Capital Projects 2. 91 65, 000 9. 54 200, 000 Total Levy 44. 11 $1, 224, 032 49. 65 $1, 111, 126 50. 94 $l, 067, 542 1971 1970 1969 Assessed Valuation Real estate $25, 971, 942 $20 639 880 $19, 340, 587 Personal property 1, 588, 260 1, 609, 737 1, 603, 159 Total As se s sed Valuation $27, 560, 202 $22, 249, 617 $20, 943, 746 The financial condition of each fund as of December 31, 1971, and the results of each fund's operations for the year, together with a comparison of these results to budget estimates, 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 -11- Citv of Brooklyn Center GENERAL COMMENTS Financial Control, Cont'd Manager. In addition, the City is cov�ered by an Honesty Blanket Position bond on all other City employees, GeneralOperations The City, in additiori to the usual activities such as: general overnment ublic safet and welfare, hi hwa s, recreation and parks; g P Y g Y operates three off-sale liquor stores and public sewer and water utilities. Net revenues produced in excess of working capital requirements by municipal liquor store operations have been used towards financing current expense and capital outlay programs of the City General Fund. The net revenues of the sewer and water utilities have been retained within the Public Utilities Fund and employed for sewer and water utility purposes. Accountin� System The accounting for all activities of the City is divided into various purpose groups or funds as required by statute and/or good accounting practice. Except for minor variances, all funds are 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�, -12- i CitV of Brooklyn Center GENERAL COMMENT5 Accountin� 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 5ection 215. 10). The accounting system used for the Public Utilities Fund is adopted from a system specifically designed for municipally-owned utilities by the American Water Works Association and is permissible under the Examiner's order establishing account classifications for municipalities. Accounting and bookkeeping for all City activities are centralized u.nder the Department of Finance. The responsibility for maintaining and pre- scribing all financial records, establishing and maintaining internal control, and preparing financial and budgetary reports is delegated to this department. -13- F I N A N C I A L S T A T E M E N T S S E C T I O N MOEN PENTTILA CERTIFIED PUBLIC ACCOUNTANTS 1210 GLENWOOD AVENUE MINNEAPOLIS, MINNESOTA 85405 DIAL 377-8180 To the City Council City of Brooklyn Center, Minnesota Gentlemen: We have examined the financial statements of the various funds of the City of Brooklyn Center as of December 31, 1971, and for the calendar year then ended. Our examination wa s made in accordance with generally accepted luded such tests of the accountin auditing standards, and accordingly inc g records and such other auditing procedures as we considered necessary in the circumstances. Audit Defined In accordance with the terms of our engagement, we conducted a"Limited General Audit" which is defined as an "examination which consists of a review of internal control and accounting pro- cedures and the details of all records (including subsidiary records and supporting data) as to mathematic2.1 accuracy, propriety and completeness of all transactions, on a test basis. This type of audit presumes that the auditor is expected to render an opinion (subject to such qualifications as may seem necessary) concerning all of the transactions and records even though he has not examined all of them in detail. Scope of Examination Our examination covered all financial transactions and funds of the City as included in the records maintained by the Department of Finance. -14- r City Council B rooklyn Cente r In our opinion, the accompanying balance sheets and related statements of revenue, expenditures and surplus (Exhibits 1 through 37), together with the notes appended thereto, present fairly the financial position of the various funds of the City of Brooklyn Center on December 31, 1971, and the results of their operations for the year then ended, in conformity with generally accepted governmental accounting principles, applied on a basis consistent with that of the preceding year. Respectfully submitted, i Oiva Penttila Certzfied Public Accountant MOEN PENTTILA Field work completed June 7, 1972 i Report signed June 26, 1972 -15- �ombined Total Note 1) Assets and Resources Cash on hand and in depositories 190, 361 Temporary investments 6, 059 606 Accounts receivable 111, 329 Contract receivable 372 693 Accrued revenue 170,317 Due from other funds 447, 108 Due from other government agencies 90, 524 Uncollected dedicated funds 279, 000 Monies on deposit with State of Minnesota 10, 917 Taxes receivable 144, 901 Special assessment receivables 5, 302, 084 Cash held by paying agents for debt and interest 959 768 Inventorie s and supplie s 216, 473 Securities held for investment 4, 863 994 Prepaid expenses and deferred charges 48, 231 Fixed assets (net of depreciation where applicable) 22, 545, 824 Unassessed construction 895, 417 Amount available general debt and interest 84 396 Amount to be provided general debt and interest 6, 128, 331 74 Totals $48, 921, 2 Liabilitie s Vouchers and accounts payable 314, 659 Accrued sales tax payable 6, 812 Contracts payable 140, 078 Assessments payable 278, 500 Accrued expenses 64, 722 Due to other funds 447, 108 Construction and debt redemption loans payable 904, 000 Customer and contractor deposits 286, 441 Bonds and certificates payable 10, 885, 765 Due funds participating in investment trust 4, 967, 763� Interest payable in future years (general debt) 2, 390,481 Total Liabilities $20, 686, 329 Surplus, Reserves and Fund Balances Surplus and surplus reserves set aside 4, 095, 752 Contributed surplus 9, 483, 565 Investment in general fixed assets 12, 770, 354 Unexpended appropriations, authorizations and balances l, 885, 274 Total Surplus, Reserves and Fund Balances $28, 234, 945 Totals $48, 921, 274 -16- City of Brooklyn Center Exhibit 1 COMBINED BALANCE SHEET ALL FUNDS AND GROUPS (CONDENSED FORM� December 3I, 1971 Special Capital Debt �pecial �vlunicipal Public General Gerieral Debt General Revenue Projects 5ervice Assessment Liquor Utilities Transit Agency Investment Fixed Assets and Fund Funds F�unds Funds Funds Fund Fund Fund Funds Trust Fund Group Interest Group (Exhibit 2) (Exhibit 7) (Exhibit 10) (Exhibit 12) (Exhibit 14) (Exhibit 18) (Exhibit 22) (Exhibit 28) (Exhibit 30) (Exhibit 32) (Exhibit 35) (Exhibit 36) 36 99� 767 1, 379 274 2, 882 41, 284 13, 648 28, 772 64, 365 114, 070 83, 715 1, 675, 561 54, 553 1, 843, 193 34, 858 1, 961, 761 5 291, 890 13, 665 525 85 96, 99� 64 79, 368 293, 325 3, 968 66, 365 5, 517 94, 467 135, 849 1, 377 6, 239 97, 240 58 196, 712 2, 190 7, 443 87, 525 2, 999 279, 000 10, 917 97, 930 1, 505 2, 206 23, 330 19, 930 5, 210, 032 92, 052 787, 765 15, 319 47, 430 109. 254 10, 216 193, 023 13, 234 4, 863, 994 2, 073 36, 244 7, 504 2, 410 37, 642 9, 737, 82g $12, 770, 354 895, 417 84, 396 6, 128, 331 $410, 793 $169 323 $2� 057, 965 84, 396 $8. 873, 298 $329, 773 $12, 521, 755 5, 258 $353, 552 $5, 022, 826 $12, 770, 354 $6, 321, 981 87, 033 1, 026 151, 770 56, 082 3, 617 5, 258 9, 855 18 6, 812 108, 677 29, 985 l, 416 278, 500 40, 481 3, 118 21, 123 16, 114 10 929 112, 897 202, 683 93, 135 11, 350 904, 000 231, 396 55, 045 6, 372, 765 15, 000 845, 000 3, 653, 000 4, 967, 763 2, 390, 481 I $103, 14? 11, 955 264, 667 $7, 628, 606 $204, 132 1, 113, 902 5, 258 9, 855 $5, 022, 826 $6, 321, 981 $307, 646 $157, 368 155, 125 $1, 081, 987 $125, 641 1, 924, 288 $343, 697 9, 483, 565 $12,770,354 1, 638, 173 84, 396 162, ?05 �307, 646 $157, 368 $1, 793, 298 84, 396 $1, 244, 692 $125, 641 $11, 407, 853 $343, 697 $12, 770, 354 $410, ?93 $169, 323 $2, 057 9b5 84, 396 $8, 873, 298 $329, 773 $12, 521, 755 5, 258 $353, 552 $5, 022, 826 $12, 770, 354 $6, 321, 981 (See notes to financial statements) -17" This statement is an integral part of report dated June 7, 1972. MOEN PENTTILA Exhibit 2 City of Brooklyn Center General Fund BALANCE SHEET December 31, 1971 ASSET5 I Assets Cash on hand and in depositories 36, 990 Temporary investments 114, 070 Accounts receivable 13 665 Due from other funds 135, 849 Taxes receivable: Real estate and personal property taxes: Levied during 1970, collectible in 1971 75, 255 Prior years' levies 22, 675 97, 930 Inventories of supplies: Materials and supplies 8, 875 5ma11 tools 1, 341 10, 216 Expenditures deferred 1972 budget 2, 073 Total $410, 793 LIABILITIES, RESERVES AND SURPLUS t Liabilitie s Vouchers payable 87, 033 Due to other funds 16, 114 Total Liabilities $103, 147 Su rplu s Reserve for 1971 budget �ncumbrances 7, 006 Reserve for imprest cash and prepaid or deferred expenditures 10, 736 Unappropriated surplus (Exhibit 3) 2g9, 904 Total Surplus 307 646 Total $410, 793 (5ee notes to financial statements) This statement is an integral part of report dated June 7, 1972. -18- Exhibit 3 �itV of Brooklyn Center �eneral Fund ANALY5I5 OF CHANGE5 IN UNAPPROPRIATED 5URPLU5 Year 1971 Actual Budget Over (Under) �,ctual E stimate E stimate Unappropriated Surplus January 1, 1971 465, 755 465, 755 -0- Add: Revenue (Exhibit 4) 1, 864, 231 1, 816, 439 47, 792 Decrease in reserves for assets set aside for specific use 2 667 2, 667 Total Balance and Additions $2, 332, 653 $2, 282, 194 50, 459 Deduct: Expenditures (Exhibit 5) $2, 019, 303 $2, 059, 348 40, 045) Encumbrances (Exhibit 5) 7, 006 7, 006 Transfers to other funds: Transit Fund 10, 000 10, 000 Open Space Acquisition Fund 6, 440 6, 440 Total Deductions $2, 042, 749 $2, 075, 788 33, 039) Unappropriated 5urplus, December 31, 1971 2g9, 904 206, 406 83, 498 (See notes to financial statements) This statement is an integral part of report dated June 7, 1972. -19- City of Brooklyn Center Exhibit 4 General Fund 5TATEMENT OF REVENUE ESTIMATED AND ACTUAL Year 19? I Actual Budget Over (Under) A ctual E stimste E stimate T axe s Real estate and personal property taxes $$2Y, 7g2 $$21 662 130 Penaltie s and inte re st on tax bills 31, 792 10, 000 21, 792 Total Taxes $853, 584 $831 662 21, 922 Licenses and Permits Business licenses and permits: Food 1, 938 Malt 2, 235 Cigarette 818 Heating 800 Vehicle 975 Service station 658 Gas piping 320 Ta�cab 200 Garbage haulers 253 Fire alarm 111 Burglar alarms 298 Bowling alley 120 All other business licenses permits 934 Total Business Licenses Permits 9 660 10, 000 340) Non-Business Permits: Building 26, 187 Electrical 11, 136 Plumbing 9, 381 Heating 6, 645 5ewe r and wate r 1, 915 All other non-business permits 2, 913 Total Non-Business Permits 58, 177 31, 500 26, 677 Court Fines 53, 638 60, 000 6, 362) Grants Federal 108 -0- 108 Sh ared Taxes Sales $269, 502 $266, 250 3, 252 Cigarette taxes 72, 105 62, 022 10, 083 Liquor taxes 59, 090 51, 184 7, 906 Mortgage registry, mobile homes and bank excise 14, 239 5, 000 9, 239 Total Shared Taxes $414, 936 $384, 456 30, 480 -20- Exhibit 4 City of Brooklyn Center Cont'd General Fund S.TATEMENT OF REVENUE ESTIMATED AND ACTUAL Year 1971 Actual Budget Over Under) •Actual E stimate E stimate Ghar�es for Current Services Recreation 149, 987 185, 675 35, 688) Sale of maps, assessment searches, etc. 2, 128 1, 700 428 Zoning and special use permits 1, 289 800 489 Platting fees 39 100 61) Total Charges for Current Services 153, 443 188, 275 34, 832) Char�es to Other Funds Engineering and clerical fees 62, 462 50, 000 12, 462 Public Utilitie s Fund rent and administration) 15, 251 15, 251 -0- Liquor Fund (heat and light) 440 440 Total Char�es to Other Funds 78, 153 65, 251 12, 902 Othe r Interest income 19, 118 20, 000 882) Civil Defense reimbursements 3, 746 4 626 880) Rental of property 2, 261 5, 316 3, 055) Refunds and reimbursements 7, 775 8, 619 844) Police towing fees 682 1, 400 718) Other income 5, 429 1, 813 3, 616 Total C�her 39, O11 41, 774 2, 763) Transfers In Municipal Liquor Fund 201, 521 201, 521 -0- Library 5ales Fund 2, 000 2, 000 -0- Total Transfers In 203, 521 203, 521 -0- Total Revenue $1, 864, 231 $1, 816, 439 47, 792 (See notes to financial statements) This statement is an integral part of report dated June 7, 1972. -21- 1971 Bud�et Appropriations Original Amendments During 1971 1971 Bud�et Increases Decreases General Government Mayor and Council 82, 181 11, 221 51, 671 Election voter registration 4, 402 4, 250 Finance Administrative Office 158 629 11, 725 2, 000 Assessor 45,806 Accounting internal audit 41, 52 7 Independent audit 7, 000 1, 337 Legal 30, 408 Charter Commission 1, 500 General government buildings 121; 748 5, 716 23, 000 Total General Government 493, 201 34, 249 76, 671 Public 5afety and Welfare Police protection 463, 803 Fire protection 95, 816 Protective inspection 52, 776 Civil defense 10 919 Animal control 8, 004 800 Regulations and inspections 15, 800 Nursing service 10, 237 Library building 6, 780 Weed eradication Total Public Safetv Welfare 664, 131 800 -0- Hi�hways Engineering 124, 101 Street department 243, 013 11, 515 16, 137 Maintenance shop 55, 600 Street lighting 38, 000 9, 000 Total Hi�hways 460, 714 20, 515 16, 137 Recreation Parks Supervision of recreation 221, 441 241 Adult programs 12, 000 20, 000 Summer playgrounds 18, 385 Summer programs 27, 750 23, 000 Fall and winter sports 25, 500 Community Center 45, 000 17, 050 Park maintcnance improvement 67, 353 826 Total Recreation 417, 429 61, 117 -0- Grand Total $2, 035, 475 116, 6$1 92, 808 (See notes to financial statements) This statement is an integral part of report dated June 7, 1972. -22- Gity o£ Brooklyn Center Exhibit 5 General Fund S,TATEMENT OF EXPENDITURES, APPROPRIATIONS AND ENCUMBRANCES Year 1971 Expenditures and Encumbrances �Over Expended) Final 1971 Dec. 31, 1971 Under Expended 1971 Bud�et Expenditures Encumbrances Appropriations 41, ?31 45, 710 979) 8, 652 8, 729 77) 168, 354 165, 829 75 2, 450 45, 806 41, 070 4, 736 41, 527 41, 035 492 8, 337 8, 337 -0- 30, 408 29, 131 1, 277 1, 500 •0- 1, 500 104, 464 103, 932 213 319 450, 779 443 773 288 6, 718 463, 803 454, 754 3, 968 5, 081 95, 816 91, 889 799 3, 128 52, 776 52, 093 683 10, 919 8, 970 1, 949 8, S00 8, 768 32 15, 800 11, 890 3, 910 L 10, 237 11, 804 1, 567) 6, 780 2, 472 4, 308 -0- 742 742) 664, 931 643, 382 4, 767 16, 782 124, 101 122, 077 109 1, 915 238, 391 230, 320 1, 307 6, 764 55, 600 53, 130 2, 470 47, 000 45, 302 1, 698 465, 092 450, 829 1, 416 12, 847 22 682 218 161 63 3 458 1, 32,000 31,283 54 663 18, 385 12, 406 49 5, 930 50, 750 63, 861 120 13, 231) 25, 500 22, 385 3, l I5 62,050 61,445 73 532 68, 179 71, 778 176 3, 775) 478, 546 481, 319 535 3, 308) $2, 059, 348 $2, 019. 303 7, 006 33, 039 Note: The over expenditure of the Mayor and Council appropriation is due to the writeoff of delinquent past yeazs (1965) taxes in the aznount of $4,219. �'he delinquent taxes have been transfened to the State Land Depaztment for recovery. In the past, taxes written off have been immaterial and have been chazged to unappropriated surplus. -23- Total Encumbrance s Total and Current Personal ExRenditures Expense Services General Government Mayor and Council 45, 710 35, 315 26, 185 Elections voter registration 8, 729 3, 076 2, 972 Finance Administrative Office 165, 904 150, O10 80, 605 Assessor 41, 070 38, 425 35, 487 Accounting internal audit 41, 035 37, 126 36, 947 Independent audit 8, 337 8, 337 8, 337 Legal 29, 131 29, 131 28, 397 General government buildings 104, 145 89, 940 35, 874 Total General Government 444, 061 391, 360 254, 804 Public Safety and Welfare Police protection 458, 722 423, 306 399, 130 Fire protection 92, 688 31, 744 25, 362 Protective inspection 52, 093 49 686 48, 071 Civil defense 8, 970 8, 171 4, 788 Animal cqntrol 8, 768 8, 476 8, 476 Regulations and inspections 11, 890 11, 890 11, 890 Nursing 11, 804 11, 804 11, 804 Library building 2, 472 2, 472 2, 323 Weed eradication 742 742 742 Total Public Safety Welfare 648, 149 548, 291 512, 58 6 Highways Engineering 122, 186 115, 363 113, 034 Street department 231, 627 225, 469 181, 395 Maintenance shop 53, 130 51, 930 Street lighting 45, 302 45, 302 Total Highways 452, 245 438, 064 294, 429 Recreation and Parks 5upervision of recreation 218, 224 174, 742 165, 092 Adult programs 31, 337 31, 337 20, 334 Summer playgrounds 12, 455 12, 455 10, 811 5ummer programs b3 981 63 981 53, 930 Fall and winter sports 22, 385 22, 385 18, 734 Community Center 61, 518 61, 518 56, 272 Park maintenance improvement 71, 954 30, 190 Total Recreation 4�1, 854 396, 608 325, 173 _Grand Total $2, 026, 309 $1, 774, 323 $1, 386, 99� (See notes to financial statements) This statement is an integral part of report dated June 7, 1972. -24- �ity of Brooklyn Center Exhibit 6 General Fund 5�TATEMENT OF EXPENDITURES AND ENCUMBRANCES C LASSIFIED A5 TO AC TIVIT Y. C HARAC TER AND OBJEC T Xear 1971 Current Expense Classification Capital Expenditures Contractual CapitalOutlay Classification Services Commodities Other Expenditures Land Equipment 9, 130 10, 395 10, 395 104 5, 653 5, 653 27, 679 11, 605 30, 12I I5, 894 15, 894 1, 157 79� 991 2, 645 2, 645 179 3, g09 3, 909 584 150 39. 945 7, 938 6, 183 14, 205 14, 205 69, 365 20, 333 46. 858 52, 701 52, 701 7, 650 9, 315 7, 211 35, 416 35, 416 3, 004 2, 658 720 60, 944 60, 944 1, 615 2, 407 2, 407 1, 398 559 1, 426 799 799 292 Z92 149 12 052 12, 681 10, 972 99, 858 99 858 1, 823 506 6, 823 6, 823 43, 268 806 b, 158 6, 158 1, 442 45, 217 5, 2'�1 1, 200 1, 200 45, 302 46, 744 90, 308 6, 583 14, 181 14, 181 3, 837 3, 942 1, 871 43, 482 43, 482 11, 003 1, 644 10,051 3, 651 5, 246 13, 345 16, 511 334 41, 764 41, 764 17,182 52,048 2,205 85,246 85,246 $145, 343 $175 370 66 618 $251 986 $251 986 3 -25- Exhibit 7 Citv of Brooklvn Center Special Revenue Funds COMBINED BALANCE SHEET December 31, 1971 Group Park Library Combined Poor Training Concessions Sales Total Fund Fund Fund Fund A5SETS Cash on hand .and in depositories 767 47 63 630 27 Temporary investments 83, ?15 2$ 1, 345 82, 342 Taxes receivable: Real estate and personal property: Levied during 19 70, collectible during 1971 1, 252 1, 252 Prior years' levies 253 253 Contract receivable sale o£ library 79, 368 79, 368 Accrued interest receivable library contract 3, 9�8 3 968 Totals $169, 323 1, 580 63 1, 975 $165, 705 LIABILITIES, RESERVES AND SURPLUS Vouchers a able 1, 026 548 478 P Y Due to other funds 10 929 10, 900 29 Unappropriated surplus (Exhibit 8) 157, 368 9, 868) 63 1, 468 $165, 705 Totals $169, 323 1, 580 63 1, 975 $165, 705 (See notes to financial statements) This statement is an integral part of report dated June 7, 1972. -26- Exhibit 8 City of Brooklyn Center 5pecial Revenue Funds COMBINED ANALYSI5 OF CHANGES IN UNAPPROPRIATED SURPLU5 Year 1971 C roup Park Library Gombined Poor Training Concession Sales Total Fund Fund Fund Fund Unappropriated surplus, January 1, 1971 •$173, 746 2, 759) 63 2, 811 ,$173, 631 Add: Revenue (Exhibit 9) 28, 165 13, 603 4, 388 10, 174 Deduct: Expenditure s and encumbrance s (Exh�bzt 9) 44, 543) 20, 712) 5, ?31) 18, 100) Unappropriated Surplus, December 31, 1971 $157, 368 9. 868) 63 1, 468 $165, 705 (See notes to financial statements) This statement is an integral part of report dated June 7, 1972. -27- Exhibit 9 City of Brooklyn Center �pecial Revenue Funds COMBINED STATEMENT OF REVENUE5 AND EXPENDITURE5 Year 1971 Park Librar Y Combined Poor Concessions Sales Total Fund Fund Fund Revenue General property tax special ad valorem levy 13, 602 13, 602 Interest earned on contracts receivable 3, 968 3, 968 Concessions receipts 4, 265 4, 265 Interest earned on temporary investments 6, 330 1 123 6, 206 Total Revenue 28, 165 13, 603 4, 388 10, 174 Expenditure s Subsistence, care and support payment 14, 563 14, 563 Administrative charge 6, 04? 6, 047 Purchases for resale 3, 878 3, 878 Purchases of equipment 1, 764 1, 764 Rent 89 g9 Taxes written off 102 102 Transfers 18, 100 18, 100 Total Expenditures 44, 543 20, 712 5, 731 18, 100 Excess of Revenue Over Expenditures 16, 378) 7, 109) 1, 343) 7, 926) S ee notes to financial statements) This statement is an integral part of report dated June 7, 1972. -28- C ombined Total ASSE TS Cash in bank 1� 379 Taxes receivable 2, 206 Due from other funds 1, 377 Temporary investments 1, 675, 561 Due from other government agencies 87, 525 Monie s on depo sit with State of Minne sota 10, 917 Uncollected dedicated fu nds at 12 /31 /71 5pecial Assessment Fund surpluses to be transferred 1972 1973 229, 000 Estimated revenues 1972 50, 000 Totals 2 057 965 LIABILITIES AND SURPLUS Due to other funds 112, 897 Vouchers payable 151, 770 Reserve for authorized expenditures (Exhibit 11) 1, 638, 173 Unappropriated surplus (Exhibit 11) 155, 125 Totals $2, 057, 965 i (See notes to financial statements) This statement is an integral part of report dated June 7,. 1972. _2q_ Exhibit 10 City of Brooklyn Center Capital Projects Funda COMBINED BALANCE 5HEET December 31, 1971 Municipal Certificates Certificates State Aid Open of of for Space Library Indebtedness Indebtedness Highway Capital Acquisition Bonds #10 #11 Construction Prolects 91 46 39 1,203 2, 206 50 1, 327 48, 803 2, 108 811� 429 1, 553, 528 69 882 87, 525 10, 917 229,000 50, 000 $136 2, 154 $1� 84�$353, 618 93,961 18,936 56, 800 94, 970 $135, 066 1, 263, 395 239, 712 1, 403 2, 154 811 429 150, 328 $136, 469 2, 154 811 429 $1, 564, 484 $353, 618 i -30- Combined Total Reserve for Authorized Expenditures Generalindebtedness General obligation bonds $3, 530, 000 Certificates of indebtedness 53, 500 Ad valorem taxes 265, 243 Sale of property 37, 543 Grants from other governmental units Hennepin County 22, 850 U. S. Government 151, 575 State of Minnesota for parks 74, 643 State of Minnesota for highways 956, 272 Transfers-In General Fund 95 997 Special Assessment Funds 87, 000 Dedicated funds appropriated as of 12 /31 /71 279, 000 Interest earned on investments 379, 777 Total Amount Appropriated $5, 933, 400 Less: Expenditures for authorized ur oses: P P Total expenditures through December 31, 1970 $3, 506, 398 Transfer of expenditures from General Fund 201, 461 1971 Expenditures Open space land acquisition 5, 538 Debt service 61, 901 Street construction 270, 294 Civic center 62, 411 Municipal service garage and fire station (East) 9, 038 Parks and playgrounds 23, 061 Total Authorized Expenditures Throu�h December 31, 1971 $4, 140, 102 Reserve for Authorized Expenditures December 31, 1971 $1, 638, 173 (Exhibit 10) Unappropriated Surplus December 31, 1971 (Exhibit 10) 155,'125 (5ee notes to financial statements) This statement is an integral part of report dated June 7, 1972. -31- ,C ity of B rooklyn C ente r Exhibit 11 Capital Projecta Funds COMBINED STATEMENT OF APPROPRIATIONS AND EXPENDITURES Year 1971 A/Iunicipal Certificates Eertificates State Aid Open of of for Space Library Indebtedness Indebtedness Highway Capital Acquisition Bonds #10 #11 Construction Proiects $250, 000 $T, 030, 000 $2, 250, 000 44, 000 9, 500 265, 243 37, 543 22, 850 151,575 74, 643 956, 272 92, 997 3, 000 87, 000 279, 000 1, 403 1, 394 237 67 150, 326 226. 350 $343, 468 $251, 394 44, 237 9, 567 $2, 136, 598 $3, 148, 136 $249, 240 43, 426 9, 138 390, 680 $2, 813, 914 $201, 461 5, 538 61,901 270,294 62, 411 9, 038 23, 061 $206, 999 $249, 240 43, 426 9, 138 722, 875 $2, 908, 424 ..�1, 263, 395 239 12 135,066 ,7 1,403 2,154 811 429 150,328 -0- -32- C ombine d Total ASSE TS Cash on hand and in depositories 274 Temporary investments 54, 553 Due from other funds 6, 239 Taxes receivable: Real estate and personal property: Levied in 1970, collectible in 1971 18, 975 Prior year levies 4, 355 Totals 84 396 LIABILITIE5 AND 5URPLUS Unappropriated surplus 84 396 Totals 84, 396 i (See notes to financial statements) This statement is an integral part of report dated June 7, 1972. -33- Exhibit 12 City of Brooklvn Center Debt Service Funds �OMBINED BALANCE SHEET December 31, 1971 Certificates State Aid 1969 Building Park Library of 5treet Improvement Bonds Bonds Indebtedness Bonds Bonds r 94 80 16 84 26, 515 7, 266 7, 795 121 12, 856 6, 239 2, 678 1, 132 15, 165 1,149 316 1,082 1,808 30, 436 7, 662 10 025 6 360 29, 913 e ._.m_ �r-� 30, 436 7, 662 10, 025 6, 360 29, 913 30, 436 7 662 10� 025 6, 360 29, 913 -34- r Combined Total Unappropriated Surplus, January 1, 1971 66, 809 r Add: Revenue General property tax levies 208, 223 State aid 43, 790 Transfers from other funds 58, 001 Interest on temporary investments 3, 945 Total Balance and Additions $380. 768 Deduct: Expenditures Principal paid 68, 000 Interest paid 227, 302 Service charges (paying agent) 686 Write off- tax levy balances 384 Total Expenditures $296 372 Unappropriated Surplus, December 31, 1971 84 396 (See notes to financial statements) This statement is an integral part of report dated June 7, 1972. r -35- City of Brooklyn Center Exhibit 13 Debt 5ervice Funds COMBINED 5TATEMENT OF REVENUE, EXPENDITURES AND SURPLUS Year 1971 Certificates ,State Aid 1969 Building Park Library of 5treet Improvement Bonds Bonds Indebtedness Bonds Bonds 27, 241 6, 537 5, 693 6, 239 21, 099 29, 714 12, 368 166, 141 43, 790 16, 100 41, 901 1,847 321 400 121 1,25b 58,802 22,958 18 ,461 92 ,051 $188,496 Zo,000 io,000 g,000 Zo,000 io,000 7, 997 5, 270 320 65, 515 148, 200 .101 26 176 383 268 116 28, 366 15 296 8, 436 85 691 $158, 583 30, 436 7, 622 10, 025 6, 360 29, 913 i -36- All Funds Combined Bond Fund A55ETS Total No. 1 Cash on hand and in depositories 2, $$2 80 Temporary investments (Exhibit 32) 1, 843, 193 28, 041 Accounts receivable 525 Due from other funds 97, 240 Assessments receivable: Future installments (principal) 4, 672, 552 8, 444 Delinquent assessments (principal interest) 232, 717 910 City General Fund (principal no interest charge) 278, 500 Interest applicable to 1971 on installments due in 197Z 5, 476 Installments applicable to tax forfeit property 20, 787 129 Authorization to assess for construction in progress 895, 41? Cash held by paying agents for debt and interest 787, 765 18, 344 Deferred interest charges 36, 244 Totals $8, 873, 298 55, 948 LIA BI LI TIE S Contracts payable 108, 677 Accrued expenses and costs 40, 481 Due to other funds 202, 683 Construction loans payable 904, 000 Bonds and interest not redeemed (monies with paying agent): Bonds maturing January 1, 1972 615, 000 18, 000 Interest coupons maturing January 1, 1972 172, 765 344 Bonds payable future years (Exhibit 1?) 5, 585, 000 2, 000 Total Liabilities $7, 628, 606 20, 344 Unappropriated surplus (deficit) for debt retirement (Exhibit 15) 1, 081, 987 35, 604 Unexpended appropriations for construction (Exhibit 16) 162, 705 Totals $8, 873, 298 55, 948 (See notes to financial statements) This statement is an integral part of report dated June 7, 1972. -37- City of Brooklyn Center Exhibit 14 5pecial Assessment Funds COMBINED BALANCE SHEET December 31, 1971 1�956 B 1• 955 A 1956 AC 1957 AB i958 A t958 B 1959 AB i960 AB 1961 AB 1963 i965 1966 1968 1970 1�971 Fund Fund Fund Fund Fund Fund Fund Fund F'und Fund Fund Fund Fund Fund I 67 36 96 72 23 69 6 91 72 49 46 83 68 2,024 151, 827 165, 809 32, 192 127, 227 171, 077 130, 813 327, 444 357, 350 195, 039 47, 818 58, 573 42, 632 7, 351 2 5 500 490 160 7, 871 88, 719 37, 006 76, 786 41, 953 100, 229 38 929 120, 538 409, 375 243, 443 231, 600 138, 551 392, 980 531, 921 2, 005, 533 295, 264 6, 247 8, 884 1, 237 4, 830 1, 019 2, 182 23, 294 14, 839 4, 316 1, 621 7, 024 16, 972 138, 637 705 66 51 17, 772 46, 975 4, 975 13, 578 12, 579 12, 094 167, 412 2, 998 i 5, 476 219 378 136) 847 1,083 310 3,439 12,726 403 615 774 20, 622 3, 233 871, 562 29, 584 27, 640 28, 987 22, 845 41, 294 106, 860 61, 419 36, 290 23, 663 66, 672 86, 288 237, 879 36,244 76 2 5 206 888 19� $736, 843 $472, 695 $225, 895 $559, 785 $690, 150 $2, 604, 228 $1, 267, 248 $225, 016 $279, 533 75, 342 $262, 243 $234, 9 9 108, 677 40, 481 157, 803 44, 880 904,000 17, 000 25, 000 25, 000 20, 000 35, 000 85, 000 50, 000 30, 000 20, 000 55, 000 65, 000 170, 000 12, 584 2, 640 3, 987 2,�845 6, 294 21, 860 11, 419 b, 290 3, 663 11, 672 21, 288 67, 879 68, 000 105, 000 175, 000 130, 000 245, 000 685, 000 540, 000 335, 000 175, 000 470, 000 580, 000 2, 075, 000 97, 584 $132, 640 $203, 987 $152, 845 $286, 294 $791, 860 $601, 419 $371, 290 $198 663 $536, 672 $666, 288 $2, 470, 682 $1, 098, 038 127, 432 146, 893 75, 342 58, 256 82, 131 8, 912 96, 330 135, 424 101, 405 27, 232 23, 113 23, 862 133, 546 6, 505 162, 705 $225, 016 $279, 533 75, 342 $262, 243 $234 97b $295 206 $888, 190 $736, 843 $472, 695 $225, 895 $559, 785 $690, 150 $2, 604, 228 $1, 267, 248 _3g_ MOBN PENTTILA �ombined $ond 1956 B Total Fund 1�955 A '1956 AC 1957 AB �1958 A All Fund s No 1 Fund Fund Fund Fund Unappropriated Surplus January 1, 1971 924,921 33,071 $117,735 $136,357 70,971 50,712 Add: Revenue 1971 Interest Assessments 349, 512 900 2, 404 4, 897 3, 068 094 Interest Investments 120, 079 2, 404 10, 146 11, 063 1, 324 8, 563 Revenue 1971 469, 591 3, 304 12, 550 15 960 4, 392 15, 657 Less: Expenditures 1971 Interest 310, 050 688 2, 762 5, 280 7, 975 Agent charges 2,475 83 91 144 21 138 Expenditures 1971 312, 525 771 2, 853 5, 424 21 8, 113 Unappropriated Surplus December 31, 1971 $1, 081, 987 35, 604 $127, 432 $146, 893 $?5, 342 58, 256 (See notes to financial statements) This statement is an integral part of report dated June 7, 1972. -39- C ity of B roo�klyn C ente r Exhibit 15 5peEial Assessment Funds COMBINED STATEMENT OF REVENUE, EXPENDITURES AND UNAPPROPRIATED SURPLUS FOR DEBT RETIREMENT Year 1971 1958 B i959 AB 1960 AB 1961 AB 1963 1965 1966 1968 1970 1971 Fund Fund Fund Fund Fund Fund Fund Fund Fund Fund 093 3, 639 77, 995 �$117, 700 86, 485 $2�, 56.1 $19, 946 $22, 85.6 90, 631 169 2, 774 8, 219 29, 338 17, 120 15, 708 8, 043 $23, 014 $40, 842 $179, 938 $6, 153 11,653 9,521 20,485 22,206 11.757 3,QZ3` 3 .668 2,332 1,751 183 14, 427 17, ?40 49, 823 39, 326 27, 465 $11, 066 $26, 682 $43, 174 $181, 689 $6, 336 5, 340 12, 362 31, 125 21, 445 12, 400 325 $23, 345 $41, 925 $138, 078 $-0- 49 105 363 157 145 70 170 243 696 5, 389 12, 467 31, 488 21, 602 12, 545 7, 395 $23, 515 $42, 168 $138, 774 $-0- 82,131 8 912 96,330 $135 424 $101,405 $27,232 $23 113 23 862 133 $6 505 i 7m �y, f -40- THOSE PROJECTS CLOSED DURING 1971 Appropriations (Note 2) Project Original �'inal Number �Description Appropriations Cancelled Appropriation S' 23 81 00 33 80 23 69 -72 anitary sewer 9. 1. 487. 20 69-74 Storm sewer 9, 365. 00 2, 027. 93) 11, 392. 93 69-76 Water 15, 743. 00 2, 465. 58 13, 277. 42 69-77 Street 13, 027. 00 2, 990. 09 10, 036. 91 69-78 Water 15, 168. 00 2, 972. 60 12, 195. 40 69-?9 Street 7, 021. 00 463. 17 6, 557. 83 70-3 5treet 54 990. 00 4, 166. 36) 59, 156. 36 70-4 Curb and gutter 7, 500. 00 1, 036. 81 6, 463. 19 70-5 Water 35, 973. 00 1, 140. 53 34, 832. 47 70-6 Street 26, 333. 00 1, 113. 58) 27, 446. 58 70-8 Water 14, 607. 00 626. 36 13 980, b4 70-9 Sanitary sewer 12, 616. 00 595. 17 12, 020. 83 70-10 Storm sewer 52, 456. 00 255. 60) 52, 711. 60 70-11 Water 23, 637. 00 7. 35 23 629 65 70-12 Sanitary sewer 23, 291. 00 660. 45 22, 630, 55 70-17 Street 105 196 00 24, 810. b4 80, 385. 36 70-18 Street 146, 500. 00 130, 330. 92 16, 169. 08 70-21 Sanitary sewer 30, 420. 00 2, 432. 38) 32, 852. 38 70-22 Water 6, 800. 00 2, 088, ?3) 8, 888. 73 71-10 Water 13, 750. 00 1, 030. 17 12, 719. 83 Total Pro,jects Closed in 1971 $638, 212. 00 $157, 377. 06 $480, 834. 94 -41- Citv of Brooklyn Center Exhibit 16 Special Assessrnent Funds CONSTRUCTION EXPENDITURES COMPARED TO APPROPRIATIONS AND A5SE5SMENT OF COSTS Year 1971 Expenditures (Note 2) Costs Assessed Assessed Compared to Cost Balance During Total State Aid Property (Under) Over Applied to Water 1/1 /1971 1971 Expenditures Share Share Total Assessed Utility (Note 2) 22, 924. 99 562. 21 23, 487. 20 23, 487. 20 23, 487. 20 11, 392. 93 -0- 11, 392. 93 1, 988. 91 9, 403. 85 11, 392. 76 17) 11 993 42 1, 284. 00 13, 277. 42 15, 930. 00 15, 930. 00 2, 652. 58 8, 583. 10 1, 453. 81 10, 036. 91 11, 279. 72 11, 279. 72 1, 242. 81 11, 073. 33 1, 122. 07 12, 195. 40 14, 907. 92 14, 907. 92 2, 712. 52 5, 702. 97 854. 86 6, 557. 83 6, 557. 83 6, 557. 83 41 896 82 17, 259. 54 59, 156. 36 55, 034. 59 4, 121. 77 59, 156. 36 5, 461. 40 1, 001. 79 6, 463. 19 493. 95 5, 978. 52 6, 4Z2. 47 9. 28 32, 893. 38 1, 939. 09 34, 832. 47 45, 333. 10 45, 333. 10 10, 500. 63 21, 270. 26 6, 176. 32 27, 446. 58 26, 189. 21 26, 189. 21 1, 257. 37) 13, 071. 24 909. 40 13, 980. 64 22, 282. 80 22, 282. 80 8, 302. 16 11, 286. 74 734. 09 12, 020. 83 12, 020. 10 12, 020. 10 73) 47, 124. 86 5, 586. 74 52, 711. 60 3, 104 91 49 606. 68 52, 711. 59 O1) 21, 228. 98 2, 400 67 23 629. 65 29, 887. 94 29, 887. 94 6, 258. 29 20, 877. 48 1, 753. 07 22, 630. 55 22, 630. 55 22, 630. 55 92, 144. 13 11, 758. 77) 80, 385, 36 24, 115. 61' 56, 269. 75 80, 385. 36 18, 564. 71 2, 395, 63) 16 169 O8 4, 850. 72 11, 318. 35 16 169 �7 O1) 30 469 19 2, 383. 19 32, 852. 38 32, 852. 43 32, 852. 43 05 7, 783. 16 1, 105. 57 8, 888. 73 17, 166. 87 17, 166. 87 8, 278. 14 -0- 12, 719. 83 12, 719. 83 4, 058. 37 4, 058. 37 8, 661. 46) $435, 743. O9 45, 091. 85 $480A 834. 94 g9, 588. 6q $421, 282. 96 $510, 871. 65 6. 15) 30, 042. 86 (Note 2) -42- MOEN PENTTILA Citv of Brooklvn Center Exhibit 16 Special Assessment Funds Cont'd CON5TRUCTION EXPENDITURES COMPARED TO APPROPRIATIONS AND ASSESSMENT OF COSTS Year 1971 PROJECTS IN PROCES5 AT 12/31/1971 Appropriated Expenditures Unexpended Project During During (Overexpended) Number Description 1971 1971 Appropriations 69-38 Curb and gutter 54, 330. 00 44, 007. 90 10, 322. 10 69-52 Curb and gutter 23, 060. 00 8, 004. 49 15, 055. 51 69-57 Curb and gutter 21, 860. 00 13, 522. 77 8, 337. 23 70-13 Street 66, 600. 00 31, 672. 73 34, 927. 27 7Q-14 Curb and gutter 13, 400. 00 10 929 81 2, 470, 19 70-15 Street 24, 400. 00 14, 861. 25 9, 538. 75 70-16 Curb and gutter 4, 200. 00 3, 243. 07 956. 93 70-19 65, 000. 00 51, 943. 91 13, 056. 09 70-20 Street 94, 450. 00 50, 432. 56 44, 017. 44 71-2 Street I9, 400. 00 17, 493. 29 1, 906. 71 71-4 Street 17, 600. 00 15, 924. 37 1, 675. 63 71- 5 Street 18, 100, 00 14, 196. 71 3, 903. 29 71-6 Curb and gutter 5, 200. 00 5, 843. 36 643. 36) 71-7 Curb and gutter 11, 400. 00 10, 465. 72 934. 28 71-8 Street 215, 000. 00 225, 094. 66 10, 094. 66) 71-9 Sidewalk 12, 400. 00 11, 355. 58 1, 044. 42 71- I I Water -0- 89. 00 89. OQ) 71-13 Sewer 16, 300. 00 14, 162. 40 2, 137. 60 71-14 Water 35, 000. 00 31, 769. 04 3, 230, 96 71-15 Street 13, 500. 00 -0- 13, 500. 00 71-16 Sewer 8, 800. 00 7, 926. 21 873, 79 71-17 Water 12, 200. 00 9, 783. 54 2, 416. 46 71-18 Water 25, 500. 00 26, 761. 76 1, 261. 76) 71-I9 Street 5, 050. 00 2, 389. 96 2, 660. 04 71-20 Sewer 13, 700. 00 9, 575. 83 4, 124. 17 71-21 Storm sewer 21, 000. 00 16, 303. 58 4, 696. 42 71-22 Water 13, 300. 00 13, 505. 10 205. 10) 71-23 Street 25, 200. 00 5, 211. 13 19, 988. 87 71-24 Curb and gutter 9, 300. 00 -0- 9, 300. 00 Unallocated costs -0- 36, 075. 67 36, 075. 67) Total Appropriations $865, 250. 00 Total Expenditures $702, 545.40 Excess Appropriations Over Expenditures (To Exhibitl4) $162, 704. 60 (See notes to financial statements) This statement is an integral part of report dated June 7, 1972. -43- Bond Redemption Year of Total Monies to Fund Description of Issue Issue Issue Payin� A�ent Bond Fund 1 5torm Sewer #1 serial issue 1952 304, 000 304, 000 Sanitary 5ewer #1 serial issue 1952 48, 000 46, 000 '1953 B serial issue 1953 55, 000 55, 000 1955 A 1955 A serial issue 1955 497, 000 429, 000 1956 AC 1956 C serial issue 1956 550, 000 445, 000 1957 AB 1957 A serial issue 1957 430, 000 430, 000 1957 B serial issue 1957 350, 000 350, 000 1958 A 1958 A serial issue 1958 530, 000 355, 000 1958 B 1958 B serial issue 1958 390, 000 260, 000 1959 AB 1959 AB serial issue 1960 630, 000 385, 000 1960 AB 1960 A serial issue 1960 768, 000 488, 000 1960 B serial issue 1961 885, 000 480, 000 1961 AB 1961 A serial issue 1962 595, 000 295, 000 1961 B serial issue 1963 430, 000 190, 000 1963 Fund 1963 A serial issue 1964 536, 000 301, 000 1965 Fund 1965 A Improvement bonds 19b6 345, 000 170, 000 1966 Fund 1968 Irnprovement bonds 1968 750, 000 280, 000 1968 Fund 1969 Improvement Bonds 1969 755, 000 175, 000 1970 Fund 1970 Improvement Bonds 1970 2, 290, 000 215, 000 $11, 238, 000 $5, b53, 000 (See notes to financial statements) This statement is an integral part of report dated June 7, 1972. 44 Exhibit 17 City of Brooklyn Center Special Assessment Funds STATEMENT OF LONG-TERM DEBT (PRINCIPAL AMOUNT OUTSTANDING) December 31, 1971 Balance Last Unpa.id Installment 12-31-71 Due on Coupon Rates on Outstandin� Bonds -0- 1-1-72 3.50°fo 2,000 1-1-73 3.20 -0- 1-1-69 3.30 68,000 1-1-76 3.25 105,000 1-1-7? 3.90 -0- 1-1-67 4.00 -0- 1-1-67 4.50 175, 000 1-1-79 175 M� 4. 00%; 75 M@3. 90%; 25 M@3. 60% 130, 000 I-I-79 90 M@3. 60%; 60 M@3. 50°�0; 60 M�3.20°�0 245, 000 1-1-81 185 M@4. 50%; 200 M@4. 25% 280,000 1-1-81 90 M�4.50�/0; 350 M�4.20% 405 000 1-1-81 315 M�4, 20%; 180 M@4. 10°�0; 90 M@4. 00°�0 300, 000 1-1-82 150 M@3. 75°jo; 120 M@3. 70%; 120 M@3, 40%; 30 M@3. 00°�0 240 000 1-1-84 100 M@3. 70°�0; 120 M�3, 60%; 80 M@3. 30%; 20 M'�a�2. 80% 335 000 1-1-85 75 M@3. 60%; 80 M�3, 50°'/0; 90 M@3. 40°'/0; 245 M�3. 20% 175 000 1-1-86 t 1.0 M@3. 80%; 175 M@3. 70% 470 000 1-1-88 50 M@4. 80%; 100 M@4. 70%; 165 M@4. 50%; 210 M�4. 20%; 225 M @4. 00% 580, 000 1-1-89 6. 50% on all bonds 2,075, 000 1-1-90 40 M�6. 75%; 20 M@6. 70%; 20 M@6. 65%; 125 M@6. 60°�0; 125 M@6. 50%; 125 M@6.40%; 125 M@6. 30%; 375 M�'cD6.25%; 425 M@6. 00%; 715 M�5. 50% $5, 585 000 Q,SSETS Current Assets Cash on hand and in depositories 41, 284 Temporary investments 34, 858 Miscellaneous receivables (net) 85 Due from other funds 58 Cash held by paying agent revenue certificate account (Note 3) 15, 319 Merchandise inventory (Note 4) 193, 023 Prepaid expenses 7, 504 Total Current Assets $292, 131 Fixed Assets Provision for Depreciation Book Gost Amortization Value Fixture s and Equipment Lyndale Avenue Store $11, 420 $11, 420 -0- Osseo Road Store 19, 797 18, 251 1, 546 Brookdale Store 10, 976 10, 976 -0- Northbrook Store 25, 200 416 24, 784 Leasehold Improvements Brookdale Store (Note 4) 16, 779 16, 779 -0- Northbrook 5tore 12, 642 1, 330 11, 312 $96, 814 $59, 172 Total Book Value of F'ixed Assets 37, 642 Total Assets $329, 773 (See notes to financial statements) This statement is an integral part of report dated June 1972. -45- Exhibit 18 Gity of Brooklyn Center IY�unicipal Liquor Fund BALANCE SHEET December 31, 1971 I AND SURPLUS Current Liabilities Accounts payable .56, 082 Accrued sales tax payable 6, 812 Accrued interest payable on revenue certificates 319 Accrued insurance payable 127 Accrued wages payable 2, 672 Due to other funds 93, 135 Contracts payable 29, 985 Certificates payable portion due within one year see below) 15, 000 Total Current Liabilities $204, 132 Long- Term Liabilitie s Revenue certificates payable (Exhibit 21) 15, 000 Less: Portion due within one year (as above 15, 000 Total Lon�-Term Liabilities -0- Total Liabzlitie s $204, I32 Surplus Exhibit 19 Restricted per terms of resolution authorizing the issuance of revenue certificates (Note 3) 15, 319 Undistributed surplus 110, 322 Total Surplus 125, 641 Total liabilities and Surplus $329, 773 -46- Exhibit 19 CitY of Brooklyn Center M.unicipal Liquor Fund ANALYSIS OF CHANGES IN SURPLUS Year 1971 5urplus, January 1, 1971 �$158, 756 Add: Net income (Exhibit 20) 168, 406 Balance and Additions $327, 162 Deduct: Transfers to other Funds General Fund 201, 521 5urplus, December 31, 1971 (To Exhibit 18) $125, 641 (See notes to financial statements) This statement is an integral part of report dated June 7, 1972. -47- 5ale s Less: Cost of sales Gross Mar�in on Sales Operatin� Expenses Requirin� Funds Salarie s and wage s Rent Note 4) Utilitie s and heat Insurance Payroll taxe s 5upplie s Repairs and maintenance Protection service Laundry Auditing Telephone Mileage Inventory variance and adjustments Provision for bad checks (net of recoveries) M.iscellaneous Taxes and licenses Cash (over) and short B reakage Total Operating Expenses Requirin� Funds Net Operatin� Income Before Depreciation and Amortization Less: Depreciation Net Operatin� Income Add: Interest on temporary investments and miscellaneous income Deduct: Interest and paying agent charges on revenue certificates Net Income (Exhibit 19) (See notes to financial statements) This statement is an integral part of report dated June 7, 1972. S -48- Exhibit 20 City of Brooklyn Center Municipal Liquor F'und STATEMENT OF INCOME AND EXPENSE Year 1971 C ombined 1 #2 #3 #4 Total Lyndale Ave. Osseo Road Brookdale Northbrook All Stores (Note 4) Store Store Store Store $1, 369, 438 $431, 328 $525, 443 $368, 492 44, 175 1,034,255 330,235 398,043 276,653 29,324 335, 183 $101, 093 $127, 400 91, 839 14, 851 108,083 31,407 40,857 30,755 5,064 16, 054 13, 940 2, 114 8, 338 2, 224 2, 529 3, 068 517 I2, 775 3, 451 4, 421 3, 414 1, 489 7, 421 1, 954 2, 723 2, 415 329 3 ,799 948 1,334 1, 019 498 3,617 1,646 1,620 294 57 1 ,697 562 240 390 505 1,221 191 564 460 6 1,160 350 472 338 685 201 219 220 45 459 148 148 148 15 316 103 140 73 290 60 72 102 56 218 62 71 64 21 59 19 19 19 2 19 173) 96 96 166, 222 43, 153 55, 536 56, 815 10, 718 168, 961 57, 940 71, 864 35, 024 4, 133 1,863 17 835 248 763 167,098 57,923 ?1,029 34,776 3,370 1, 983 675) 168, 406 _49_ Interest Revenue Certificates Principal Certificate Coupon Outstanding Retired Outstanding Numbers Rate 1-1-71 1971 12-31-71 111-125 4. 25 $15, 000. 00 $15, 000. 00 126-140 4. 25 15, 000. 00 �15, 000. 00 $30, 000. 00 000.�00 $15, 000. 00 General Provisions of Issue A. Obligations are payable solely from net ope rations of the Municipal Liquor 5tores and are in no way a general tax liability of the City. B. All certificates share on a parity basis in total net revenue of all stores. C, All certificates which mature after January 1, 1968 are subject to redemption (call) in inverse numerical order on January 1, 1965 or any interest payment date thereafter upon payment as follows: 1. If redeemed prior to January 1, 1968, at par ($1, 000) plus accrued interest, plus premium of $30. 00 on each certificate redeemed. 2. If redeemed on or after January 1 1968 at par plus accrued interest. D. Pursuant to terms of the resolution authorizing and directing issuance of certificates, certain covenants require a restriction of surplus available for transfer and the periodic setting aside of funds to meet principal and interest maturities. (5ee notes to financial statements) This statement is an inte ral art of re ort dated J ne 2 g p p u 7, 197 -50- �xhibit 21 City of Brooklyn Center Municipal Liquor Fund STATEMENT OF LONG-TERM DEBT December 31, 1971 Revenue Certificates Interest Coupons Dates of Outstanding Retired Outstanding Maturity 1-1-71 1971 12-31-?1 1-1-71 638 638 7-1-71 319 319 1-1-72 319 319 1,276 '957 319 -51- A5SETS AND OTHER DEBITS �lant, Equipment and Construction Funds (Note 6) Mains Lines $10, 064, 897 Structures 405, 935 Equipment 285, 851 Meters 233 626 Land 19, 371 Construction work in progress -(financed through bond issue): Water tank site 5, 99� Total Construction in Pro�ress 5 993 Construction in funds (unexpended bond proceeds): Investments 591, 931 Cash in checking account 8, 905 600, 836 C ds $11, 616, 509 '�'otal Construction Funds Note 5 �otal Plant, E ui ment and Const� uctions Fun dnvested and Special Funds Investments $1, 229, 652 Deferred assessments receivable 89 916 Debt retirement fund (Note 5): Cash with paying agent 47, 430 Cash in account 1, 224 Investments 140, 178 Total Debt Retirement 188, 832 Current value receivable Metro 5ewer Board (Note 7) $250, 389 Current year deferment charge Metro Sewer Board (Note 7) 42, 936 Total Receivable from Metro Sewer Board 293, 325 Total Invested and Special Funds 1, 801, 725 Current and Accrued Assets Cash in bank 3, 519 Accounts receivable 96 99� Accrued revenue (pumped but not billed) 66 365 Materials and supplies 13, 234 Prepayments 2, 410 Assessments receivable 2, 136 Due £rom other funds 196, 712 Total Current and Accrued Assets 381 366 Total Assets and Other Debits $13 799 600 (See notes to financial statements) This statement is an integral part of report dated June 7, 1972. -52- G ity of B rooklyn C ente r Exhibit 22 Public Utilities F und BALANCE SHEET December 31, 1971 TOTAL LIABILITIES AND OTHER CREDITS Lon�-Term Debt Revenue bonds payable (See Exhibit 27j (Note 5) 815, 000 Surplus and Reserves Invested in Fixed Assets From specia2 assessment projects and contractors 9, 483, 565 Debt redeemed 185, 000 Surplus accumulated for construction 231 9b9 Plant and equipment charged to income 8, 661 Depreciation provisions represented as investment in plant (Note 6) 892, 31�k Total Surplus and Reserves Invested In Fixed Assets 10, 801, 509 Total Invested in Plant, Equipment and Construction Funds $11 616 509 Reserves Depreciation provisions represented as not invested in plant (Note 6) 385, 531 Debt service reserves (Note 5) Investments reserve account 66, 402 Revenue bond 75, 000 Revenue bond principal held by paying agent 30, 000 Interest coupons held by paying agent 17, 430 Total Debt Service Reserves 188, 832 Metro Sewer Board reserves Deferred gain on sale of assets(Note 7�95, 260 Current value credit (Note 7) 250, 389 Current year deferment credit(Note 7) 42 936 Total Metro Sewer Board Reserves 388, 585 Total Reserves 962, 948 Othe r Liabilitie s Customer meter deposits held 231 396 Curr.ent and Accrued Liabilities Vouchers payable 3, 617 Contracts and notes payable 1, 416 Accrued salaries payable 1, 403 Accrued payroll taxes 2, 290 Due to other funds 11, 350 Total Current and Accrued Liabilities Z0, 076 Balance of Retained Earnin�s (Exhibit 23) 968, 671 Total Liabilities, Reserves and Retained Earnin�s $13 799 600 -53- Br Center Exhibit 23 Citv of ooklyn Public Utilities Fund STATEMENT OF OPERATIONS AND RETAINED EARNINGS Year 1971 Water Sewer Department Department Total Operatin� Revenue Residential sales �219: 953 $244, 910 $464, 863 Commercial sales 107, 864 129, 849 237, 713 Other governmental unit sales 20, 232 20, 232 Service hookup charges 38, 752 38, 752 Penalties 796 4, 963 5, 759 Other (perrnits, service charges, etc. 25, 652 12, 576 38, 228 Gross Revenue $393, O17 $412, 530 $8Q5, 547 Less Operatin� Revenue Deductions Operating expense (Exhibits 24 25) $104, 682 $287, 285 $391, 967 Depreciation (Exhibit 26) 84, 058 52, 587 136, 645 Total Operating Revenue Deductions $188, 740 $339, 872 $528, 612 Net Operatin� Income $204, 277 72, 658 $276, 935 Add: Other Income Investment income 67, 144 Net Income $344, 079 Add: Income Additions 1971 portion of current value credit restored to unrestricted balance 11, 837 Reduction of debt service reserve 1, 458 Total Income Additions 13, 295 Deduct: Income Deductions Capital outlays charged against income 8 661 Interest on long-term debt 32, 893 Redemption of debt 34, 256 Reserve for current year deferment charge 42 936 Total Income Deductions 118, 746 Balance of Income Available for Transfer to Retained Earnin�s $238, b28 Retained Earnings January 1, 1971 730, 043 Balance of Retained Earnin�s, December 31, 1971 (To Exhibit 22) $968 671 (See notes to financial statements) This staternent is an integral part of report dated June 7, 1972. -54- I Source of Sup p1Y Labor 8,791 Electricity 16, ?57 Purification supplies 9, 754 Materials 2� g72 Rent administration Equipment operation 292 Payroll taxe s ?1 g I, Insurance Supplies 623 Postage Fuel heating 967 Consulting fees Refunds customer Printing Fuel Equipment 57 Schools conferences Equipment rental 12 Small tools 38 Repairs 108 Othe r 21 Mileage Refunds of penalties r Totals 41, O10 (See notes to financial statements) This statement is an inte ral art of re ort dated June 7, 1972. g P P -55- City of Brooklyn Center Exhibit 24 Public Utilitie s Fund WATER DEPARTMENT OPERATING EXPENSES Year 1971 Classification Bv Function C ustome r Department Transmission Administration Accountin� Total. 5, 531 23, 451 12, 454 50,227 16, 757 9, 754 932 422 4, 226 7, 626 7, 626 704 172 1,168 451 1,92g 1,006 4,103 1�903 1,9 10 104 14 751 3,188 3,188 967 683 683 520 520 248 912 1,160 571 628 410 410 84 6 102 22g 266 108 82 103 21 21 11 11 r 7, 008 38, 918 17, 746 $104, 682 (To Exhibit 23) -56� Disposal Pumpin� Shared cost joint facilities Minneapolis 22, 632 Labor 6,575 Rent Administration Electricity 6, 048 Equipment operation Payroll taxe s 53 5 Materials 611 Insurance Postage C onsulting fee s Fuel equipment P rinting Supplie s 48 Repairs stations mains 30 Fuel heating 154 Equipment rental 17 Alarm system 384 Small tools Refunds M ileage Metro 5ewer Board charge (Note 7) 208, 601 Totals $245, 635 (See notes to financial statements) This statement is an integral part of report dated June 7, 1972. -57- C ity of B rooklvn C ente r Exhibit 2 5 Public Utilitie s Fund SEWER DEPARTMENT OPERATING EXPEN5ES I Year 1971 Classification By Function Gustome r Department 'Transmission Administration Accountin� Total I 22, 632 4, 075 14, 300 5, 519 30, 469 7, 626 7, 626 6, 048 30 662 172 864 333 1,169 452 2,489 631 2 1,244 1,873 1,873 1, 309 1, 309 682 682 585 585 170 158 328 621 95 14 778 r 30 154 32 3 52 23 407 302 302 791 791 21 21 208, 601 6, 024 28, 002 7, 624 $287, 285 T o Exhibit 2 3) -58 Assets Balance Balance 1-1-71 Additions 12-31-71 Water Department Mains and lines 4, 655, 323 176, 552 4, $31, 875 Structures 405, 935 405, 935 Consumer meters in use 215, 006 18, 620 233 626 Equipment 275, 277 544 275, 821 Total Water Department 5, 551, 541 195, 716 5, 747, 257 Sewer Department Mains and lines 6, 098, 066 865, 045) 5, 233, 021 Equipment 10, 030 10, 030 Total Sewer Department 6, 108, 096 865, 045) 5, 243, 051 Total Water and Sewer Departments $11, 659, 637 669, 329) $10, 990, 308 (5ee notes to financial statements) This statement is an integral part of report dated June 7, 1972. -59- Exhibit 26 City of Brooklyn Center Public Utilities Fund SUMMARY STATEMENT OF PLANT AND PROPERTY AND PROVISION FOR DEPRECIATION Decembex 31, 197 i Provision for Depreciation Balance Balance Depreciable 1-1-71 Additions Ded'ns 12-31-71 Life (Years) 2g2, 055 46, 554 328 609 100 132, 443 13, 531 145, 974 30 64, 991 10, 750 75, 741 20 95, 585 13, 223 1, 721 107 087 5, 10, 20, 25 575, 074 84, 058 1� 721 657, 411 657, 194 52, 025 98, 545 610, 674 100, 45, 50 9, 198 562 9, 760 666, 392 52, 587 98. 545 620, 434 $1, 241, 466 $136, 645 $1,00, 266 $1, 277, 845 �I I I -60- Revenue Bonds Payable i Principal Interest Year Certificate Interest Outstanding Coupons Out- of Numbers Rate 12-31-71 standin� 12-31-71 Maturity 32-37 3. 75 30, 000. 00 32, 212. 50 1972 38-43 3. 75 30, 000. 00 31, 087. 50 1973 44-49 3. 75 30, 000. 00 29, 962. 50 1974 50-55 3. 75 30, 000. 00 28, 837. 50 1975 56-61 3. 90 30, 000. 00 27, 690. 00 1976 62-68 3.90 35,000.00 26,422.50 1977 69-75 3. 90 35, 000. 00 25, 057. 50 1978 76-82 3. 90 35, 000. 00 23, 692. 50 1979 83-89 3. 90 35, 000. 00 22, 327. 50 1980 90-96 3.90 35,000.00 20,962.50 1981 97-104 3. 90 40, 000. 00 19, 500. 00 1982 105-112 3. 90 40, 000. 00 17, 940. 00 1983 113-120 3. 90 40, 000. 00 16, 380. 00 1984 121-128 3. 90 40, 000. 00 14, 820. 00 1985 129-137 3.90 45,000.00 13,162.50 1986 138-146 3. 90 45, 000. 00 11, 407. 50 1987 147-155 3. 90 45, 000. 00 9, 652. 50 1988 156-164 3. 90 45, 000. 00 7, 897. 50 1989 165-173 3.90 45,000.00 6,142.50 1990 174-182 3. 90 45, 000. 00 4, 387. 50 1991 183-191 3.90 45,000.00 2,632.50 1992 192-200 3. 90 45, 000. 00 877. 50 1993 $845, 000. 00 $393, 052. 50 I (See Exhibit 22) i -61 Exhibit 2 7 City of BrooklYn Center Public Utilitie s Fund 5TATEMENT OF LONG-TERM DEBT (BONDS PAYABLE) December 31, 1971 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 redeemed prior to January 1, 1977, premium of 3 �fo 2. If redeemed January 1, 1977, or thereafter prior to January 1, 1981, premium of 1- 1/2°jo. 3. If redeemed January 1, 1981, or thereafter, no premium. C. The resolution authorizing and directing the issuance of these bonds contains certain covenants and restrictions enacted for the general purpose of protecting the bondholders. Paragraph 8 of the resolution provides for the segregation of assets and the restriction of surpluses for debt retirement purposes and defines the manner in which the activities of the Public Utilities Fund will be accounted for. Note 5 of "Notes to Financial Statements" refers to various accounting requirements in more detail and should be referred to. (See notes to financial statements) This statement is an integral part of report dated June 7, 1972. -6�- Citv of Brooklyn Center Exhibit 28 Transit Fund BALANCESHEET December 31, 1971 ASSETS Current Assets Investments 5 Accounts receivable 64 Due from other funds 2, 190 Due from other government agencies 2, 999 Total Current Assets 5, 258 Total Assets 5, 258 LIABILITIES AND 5URPLUS Current Liabilities Bank overdraft 4, 883 Vouche,rs payable 375 Total Current L.iabilities 5, 258 Surplu s Unappropriated surplus _p_ Total Iiabilities and Surplus 5, 258 (See notes to financial statements) This statement is an integral part of report dated June 7, 1972, -63- eity of Brooklvn Center Exhibit 29 Transit Fund COMBINED STATEMENT OF REVENUE EXPENDITURES AND SURPLU5 3�ear 1971 1q71 -0- Unappropriated Surplus, January 1, Add: Revenue 1971 General Fund appropriation 6, 440 Metropolitan Transit Commission 5, 000 Bus fares collected 4, 175 Brooklyn Center Chamber of Commerce contribution 500 Brookdale Merchants contribution 172 Interest earned on temporary investments 5 16, 292 i Total Revenue 16, 292 Deduct: Expenditures 1971 Bus rent 14, 861 Advertising 1, 431 Total Expenditures 16, 292 Unappropriated Surplus, December 31, 1971 4 (See notes to financial statexnents) This statement is an integral part of report dated June 7, 1972. -64- AS5ETS Cash on hand and in depositories Inve stment s Accrued revenue Due from other funds Taxes receivable: Levied in 1970, collectible in 1971 Prior yeara� tax levies Total Assets LIABILITIES AND FUND BALANCE5 Accounts payable Fund balances (See Exhibit 31) Total Liabilities and Fund Balances (5ee notes to financial statements) This statement is an integral part of report dated 3une 7, 1972. -65- Exhibit 30 Citv of Brooklyn Center Trust and A�ency Funds COMBINED BALANCE SHEET December 31, 1971 A�ent For In Trust Fi r e Publi c Department Employee s' Police C ombined Relief Retirement Pension Total Association Association Fund 28, 772 26 28, 746 291,89� 1,696 290,194 5, 517 5, 517 7, 443 5, 323 2, 120 16, 571 3, 816 6, 541 6, 214 3,359 633 1,863 863 $353, 352 4, 449 15, 449 $333, 654 9, 855 9, 855 343 697 4, 449 5, 594 $333, 654 $353, 352 4, 449 15, 449 $333, 654 -66- .Fund Balance January 1, 1971 Add: Revenue Real estate and personal property taxes Insurance premium rebate PERA contributions from enterprise funds: Liquor stores Public Utility Fund EmpZoyee contributions Earnings on temporary investments Balance and Additions Deduct: Expenditure s Paymenta to principal of agency Write off-tax levy balances Refunds of employee contributions Actuarial study Fund Balance December 31, 1971 I (See notes to financial statements) This statement is an integral part of report dated June 7, 1972. _67_ i City of Brooklvn Center Exhibit 31 Txust and A�ency Funds COMBINED STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCES Year 1971 Fire Public Department Employees' Police C ombined Relief Retirement Pension Total A s s o ciation A s s ociation Fund 1 628 5 801 $232 978 $228, 805 644 71 627 67 740 181, O11 41, 21, 546 21, 546 8, 101 8, 101 6, 110 6, 110 20,359 140 20,219 17 584 296 17, 288 $483, 516 64, 818 80, 473 $338, 225 134,935 60,267 74,668 313 102 211 4, 171 4, 171 400 400 $343,697 4,449 5,594 $333,654 -68- Exhibit 32 City of Brooklyn Center Inve stment T rust Fund .BALANCE SHEET l�ecember 31, 1971 QSSE T5 Cash in depositories 64, 365 Accrued interest receivable 94, 467 Inve stments: k'ace ],'remium or Cost Value (Discount) Basis U. S, government securities $3, 973, 000 13, 006) $3 959, 994 Construction loan certificates 904, 000 904, 000 Total Investments $4, 877, 000 13, 006) 4, 863, 994 Total Assets $5, 022, 826 i LIABILITIE 5 Due contractors (Performance deposits) 55, 045 Unclaimed cash (Law enforcement activities) 18 Due participating funds: 5pecial Assessment Funds $1, 843, 193 Library sales 82, 342 General Fund 114, 069 Poor Fund 28 Certificate of Indebtedness Fund ?95 Public Employees Retirement Association Fund 1, 696 Park Board Redemption Fund 26, 515 Liquor Fund 34, 858 Public Ut ilities Fund 1, 229, 652 5tate Aid Construction Fund 1, 553, 528 Bond Funds 16, 668 Bond Redemption Library 1, 345 Park Concession 7, 266 Open Space Land Acquisition Fund 48, 803 T ran sit Fund 5 Total Due to Participatin� Funds (See Exhibit 34) 4 967 763 Total Liabilities $5, 022, 826 (See notes to financial statements) This statement is an integral part of report dated June 7, 1972. -b9- r Exhibit 3 3 Citv of Brooklyn Center Inve stment T rust Fund STATEMENT OF EARNINGS Year 1971 Interest Income United 5tates gavernment securities $2$b 965 Construction loans 41, 830 Brooklyn Center securities 320 Total Interest Income $323, 115 Expenses Audit 7 50 Net Income Distributed to Participatin� Funds $322, 365 Explanation The Investment Trust Fund was established during -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 participating funds is shown below by years. Rate of Net Year Return Income 1971 6. 66%a $322 365 1970 6.30 250,408 1969 5. 90 164, 336 1968 5.20 115,880 1967 4 48 85 267 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, 409, 551 (See notes to financial statements) This statement is an integral part of report dated June 7, 1972. 70 City of Brooklyn Center Exhibit 34 t Inve stment T ru st Fund CHANGE5 IN PARTICIPATING FUND BALANCES Year, 1971 Balance Net Fund Income of Balance January 1, Additions 1971 December 31, 1971 4Withdrawals) Distributed 1971 Special Assessment Funds Bond Fund No. 1 35, 037 9, 400} 2, 404 28, 041 1955 A 144, 881 3, 200) 10, I46 151, 827 1956 AC 161, 646 6, 900) 11, 063 165, 809 1956 B 4, 792 4, 500 382 9, 674 1957 AB 12, 276 9, 300 943 22, 519 1958 A 124, 364 5, 700) 8, 563 127, 227 1958 B 175, 325 15, 901) 11, 653 171, 077 1959 AB 141, 391 20, 100) 9, 521 130, 812 1960 AB 291, 158 15, 800 20, 486 327, 444 1961 AB 326, 144 9, 000 22, 206 357, 350 1963 A 171, 782 11, 500 11, 75? 195, 039 1965 A 42, 494 2, 301 3, 023 47, 81$ 1966 A 43, 832 11, 073 3, 668 58, 573 1968 23, 020 17, 280 2, 332 42, 632 1970 Improvement Fund 28, 423 22, 823) 1, 751 7, 351 Total Special Assessment Funds $1, 726, 565 3, 270) 119, 898 $1, 843, 193 Librarv Sales 83, 337 7, 201) 6, 206 82, 342 General Fund 489, 532 394, 581) 19, 118 114 069 Poor Fund 26 -0- 2 28 Certificate of Indebtedness Fund 3, 995 3, 400 400 7, 795 Public Employee s' Retirement Association Fund 18, 584 17, 184) 296 1, 696 Park Bond Redemption Fund 25, 067 399) 1, 847 26, 515 Liquor Fund 59, 773 26, 773) 1, 858 34, 858 Public Utilities Fund 978, 208 184, 300 67, 144 1, 229, 652 State Aid Construction Fund 1, 626, 413 174, 700) 101, 815 1, 553, 528 Bond Funds 19, 708 4, 969) 1, 929 16, 668 Park Concess�on Fund 1, 872 650) 123 1, 345 Bond Redemption- Library 6, 144 801 321 7, 266 Open Space Land Acquisition Fund -0- 47, 400 1, 403 48, 803 Transit Fund -0- -0- 5 5 Total All Funds $5, 039, 224 393, 826) 322, 365 $4, 967, 763 (See notes to financial statements) This statement is an integral part of report dated June 7, 1972. -71- Investment in Fixed Assets Land and land improvements Building and building improvements Park properties (including buildings) Departmental equipment Furniture and fi�ures Storm sewers and street projects Total Sources of Investment General indebtedness General Fund revenues (includes ad valorem levies) Liquor store revenue certificates Contributions received 5pecial assessment projects Owners, contractors, and City share Hennepin County Capital Projects Fund: General obligation bonds Ad valorem tax levy 1968 and 1969 Sa1e of land Transfers of surpluses froxn special assessment debt service funds Transfer from Mayor's and Council's Contingency Fund Interest earnings on investments Total (See notes to financial statements) This statement is an integral part of report dated June 7, 1972. -72- City of Brooklyn Center Exhibit 35 SUMMARY STATEMENT OF GENERAL FIXED AS5ETS December 31, 1971 Balance Year 19Z 1 Balance Dec. 31, 1970 Acquisitions Disposals Dec. 31, i971 2'77, 954 28, 980 306 934 2,659,846 48,369 2,708,215 1, 196, 315 53, 234 1, 249, 549 716, 843 158, 167 15, 205 859, 805 57, 630 77, 066 2, 787 131, 909 6, 975, 709 538, 233 7, 513, 942 $11, 884, 297 904, 049 17, 992 $12, 770, 354 605, 207 605, 207 1, 113 266 64, 307 17 992 1, 159, 581 304, 571 304, 571 7i, 631 206, 999 27s, 6so 6, 798, 529 538, 233 7, 336, 762 177, 180 177, 180 2, 250, 000 2, 250, 000 265, 243 265, 243 38, 654 38, 654 87,000 74,907 161,907 3,000 3,000 170, O16 19, 603 189, 619 $11, 884, 297 904, 049 17, 992 $12, 770, 354 r -73- Exhibit 3 6 City of Brooklyn Center 5UMMARY STATEMENT OF GENERAL LONG-TERM DEBT AND INTEREST December 31, 1971 Amount Available And to be Provided Amount available in debt service funds (5ee Exhibit 12): Certificate of indebtedness redemption fund 10, 025 Park bond redemption fund 30, 436 Library bond 7, 662 Building and improvement bonds 29, 913 State aid street bonds 6, 360 On deposit with paying agents 109 Total Amount Available 193, 650 Amount to be provided in future periods: For interest $2, 234, 831 For principal 3, 893, 500 Total Amount to be Provided 6, 128, 331 Total Amount Available And to be Provided $6, 321, 981 General Debt And Interest to be Paid in Future Periods (Exhibit 37) 'nci al ortion General debt (pri p p Certificates of indebtedness 8, 000 Park bonds 195, 000 Library bonds 140, 000 Building and improvement bonds 2, 280, 000 State aid street bonds 1, 030, 000 Assessments on City properties (Note 7) 278, 500 Total General Debt (Princinal Portion) $3, 931, 500 Interest payable in future periods: Bonds and certificates 2, 390, 481 Total General Debt And Interest to be Paid in Future Periods $6, 321, 981 (See notes to financial statements) This statement is an integral part of report dated June 7, 1972. -74- General Debt Principal Portion Payment Total Certificates Building State Aid Assessments Due Pr.incipal Total of Park Library Improvement Street Payable No Interest Durin� Interest Principal Indebtedness Bonds Bonds Bonds Bonds General 1972 32$, 947 103, 950 8, 000 20, 000 10, 000 10, 000 25, 000 30, 950 1973 341, 776 120, 950 20, 000 10, 000 35, 000 25, 000 30, 950 1974 409, 512 195, 950 20, 000 10, 000 110, 000 25, 000 30, 950 1975 414, 314 210, 950 20, 000 10, 000 125, 000 25, 000 30, 950 1976 437, 500 245, 950 20, 000 10, 000 130, 000 55, 000 30, 950 1 1977 434,230 255,950 20,000 10,000 140,000 55,000 30,950 1978 410, 955 245, 950 20, 000 i0, 000 i30, OOD 55, 000 30, 950 1979 402,842 250,950 20,000 i0,000 135,000 55,000 30,950 1980 379, 423 240, 550 20, 000 10, 000 125, 000 55, 000 30, 550 1981 321, 864 195, 350 15, 000 1�, 000 115, 00� 55, 000 350 1982 304,570 190,0�0 i0,000 120,000 60,000 1983 297,463 195,000 10,000 125,000 b0,000 1984 289,985 200,000 10,000 130,000 60,D00 1985 282,123 205,000 10,000 135,000 60,000 19g� 259, 227 195, 000 135, 000 60, 000 1987 251, 315 200, 000 140, 000 60, 000 1988 238,210 200,000 140,000 60,000 1989 234,750 210,OOa 15fl,000 60,000 1990 220,950 210,000 150,000 60,000 �991 62,025 60,000 60,ODO Totals $6, 321, 981 $3, 931, 500 8, 000 l95 000 140, 000 $2, 280, 000 $1, 030, 000 278, 500 (See notes to financial statements) 7 This statement is an integral part of report dated June 7, 1972. Citv of Brooklvn Center Exhibit 37 SCHEDULE OF •GENERAL LONG-TERM DEBT AIVD INTERE5T BY MATURITIE5 Dscember 31, 1971 I��erest Payable Certificates Building �tate Aid T'otal of Park i�ibrary Improvement 5treet Interest Indebtedness Bonds Bonds Bonds Bonds 085 147 875 64 278 224, 997 160 7, 599 5, 220, 826 6, 796 4, 715 146, 413 62, 902 213,562 5 ,989 4,345 141,700 61,528 203,364 5,175 3,975 134,062 60,152 192, 550 4, 355 3, 605 125, 775 57, 815 178,280 3,535 3,230 117,000 54,515 165,005 2,715 2,850 108,225 51,215 S 151, 892 l, 895 2, 470 99, 612 47, 915 138,873 1,075 2,090 91,162 44,546 126,514 332 1,710 83,363 41,109 l I4, 570 1; 330 75, 725 37, 515 102, 463 950 67, 763 33, 750 89,985 570 59,475 29,940 77, 123 190 50, 863 26, 070 64,227 42,087 22,140 51,315 33,150 18,165 38,210 24,Q50 14,160 24, 750 14, 625 10,�125 10,950 4,875 6,075 2, 025 2, 025 $2, 390, 481 160 39, 466 37, 115 $1, 567, 800 $745, 940 -76- City of Brooklyn Center NOTE5 TO FINANCIAL STATEMENTS Year 1971 �Vote 1: Tl�e "Combined Balance Sheet All Funds and 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 indica- tive of the over-all financial position of the City. The financial position and the results of operations of each fund should be ascertained by reference to the individual exhibits as submitted for that fund within this report. Note 2: Special Assessment Funds These funds are used to account for the construction and financing of public improvements such as streets, curbs, storm 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 ownexs are recorded within the same fund entity. Budgetary accounts are employed to provide a means of control over ex- penditures 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 rnany properties are guaranteed by the City ($6. 15 for the Year 1971 See Exhibit 16). Note 3: Municipal Liquor Fund The resolution authorizing the issuance of revenue certificates contains restrictive covenants which were enacted for the benefit and protection of certificate holders, Paragraph 5c provides that at least quarterly the following year's principal and interest requirements be segregated and set aside in cash for the benefit of certificate holders. As of December 31, 1971, cash in the amount of $15, 319 (representing interest and principal falling due on January 1, 1972) is on hand wi th the paying agent. -77- C itv of B rooklyn C ente r 1VOTES TO FINANCIAL 5TATEMENTS Y�ar 1971 Note 3: Municipal Liquor Fund Cont'd Paragraph 5d requires a restriction on the availability of surplus for transfer which is equal to the next ensuing year's principal and interest requirements. As of December 31, 1971, restricted surplus totalled $15, 319. ($15, 000 principal due January 1, 1972 and interest for the Year 1972 in the amount of $319.) Note 4: Municipal Liquor Fund Merchandise inventories are valued at current wholesale prices and the amount of cash discounts and promotional discounts are 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 interna]. reports because it establishes a uniform basis of ineasuring gross profit margins. The uniformity of gross margin measure is necessary for purpo se s of good inte rnal control. Pe riodically 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, 1971, (on Exhibit 18) are stated at an amount of $193, 023 and this amount is approximately $12, 000 over actual cost. The effect on operating results as reflected for the Year 1971 on Exhibit 20 is immaterial because of the offsetting effect between beginning of the year and end of the year inventory. The L ndale Avenue store Store #1 and the Osseo Road store y (Store #2) are located on city-owned properties. The lease for the Brookdale Shopping Center store (Store #3) expired January 31, 1972 and operations at that Iocation has been discontinued. Store #4 is located in the Northbrook Shopping Center and the premises are occupied pursuant to terms of a lease which expires October 31, 1976. Note 5: Public Utilitie s 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 Util.ities 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. -78- City of Brooklyn Center NOTES TO FINANCIAL STATEMENTS Year 1971 Note 5: Public Utilities Fund Cont'd As required by Paragraph l0e of the issuing resolution, an analysis of each account balance appears below: Construction Account Proceeds of bond sales $1, 000, 000 Earnings provided by temporary investment of construction monies 231 969 Construction expenditures paid 631, 133) Account Balance (See Exhibit 22) 600, 836 Revenue Bond Account Cash on hand with paying agent to meet matured coupons and principal and coupons maturing 1-1-72 47, 430 Accumulated amounts set aside to meet 1972 requirements for interest and principal Cash in bank 1, 224 Investments and accrued interest 65, 178 66, 402 Account Balance 113, 832 Reserve Account Face value of government securities ?5, 000 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 Account Account Account Assets restricted 12-31-71 see above) $600, 836 $113, 832 75, 000 Less: 1. Liabilities payable from restricted funds 47, 430) 2, Monies derived from borrowing (bond issues) 368, 867) Restricted surplus at 12-31-71 $231, 969 66, 402 75, 000 Required per Resolution $231 969 66, 402 75, 000 79_ •City of Brooklvn Center •NOTES TO FINANCIAL STATEMENT5 Year 1971 Note 6: Public Utilities Fund The accounting system employed by the Public Utilities Fund is adapted from a system specifically designed for municipally- owned utilities by the American Water Works Association. The investment in plant and equipment is of primary importance to utility operations and because this is so, the accounting method in use emphasizes a source and application of monies concept in accounting for plant and equipment costs. Accordingly, fixed assets are shown at total cost on the left hand side of the balance sheet and depreciation provisions are shown on the right. 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 ($892, 314) and those amounts held in reserve ($385, 531). This presentation of assets at gross cost and the reflection of accumu- lated depreciation as a reserve on the right hand side of the balance sheet is Aeculiar 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 paramount 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 Total Plant, Equipment and Construction Funds ($11 616 509) would be I reflected net of depreciation provisions at a total of $10, 338 664 Note 7: Public Utilitie s Fund Pursuant to enacted legislation (Metropolitan Sewer Act Chapter 449 5ession Laws) the Metropolitan 5ewer Board, as of January 1, 1971, assumed ownership of all existing interceptors and treatment works needed to implement a comprehensive plan for the collection, treatment, and disposal of sewage in the seven county metropolitan area. -80- I City of B rooklyn C ente r NOTES TO FINANCIAL 5TATEMENTS Year 1971 Note 7: Public Utilitie s Fund Cont'd 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 Sewer Board over a period of 30 years and the amount will earn interest at an annual rate of 4%. The method of payment will be by right of offset. The City will apply each annual installment against sewer service charges as billed by the Metropolitan 5ewer Board annually. The installment credit for this one year (1971) consisted of principal only and the amount of credit offset against 1971 sewer service billings totalled $11, 837. leaving a principal balance due over the next 29 years of $250, 389 see Exhibit 22). In addition to providing for reimbursement of facility costs the i 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 ($42 936 Exhibit 22) is collectible over the next five years. The current value receivable ($250, 389� and the current year deferment charge ($42, 936) are restricted as to use. These amounts are to be applied to payment of sewer service costs and accordingly on the balance sheet (Exhibit 22) are shown as restricted reserves. Exhibit 22 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 terrn 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 25) and the amount remaining to be amortized in future years is reflected on Exhibit 22 at the remaining amount of $95, 260. -81- City of Brooklyn Center NOTES TO FINANCIAL STATEMENTS Year 1971 Note 8: .Summary Statement of General Long-Term Debt and Interest 5pecial assessments which relate to improvements benefiting City-owned properties total $278, 500 as of December 31, 1971. The p�ayment for these improvements (with no interest charge) has been scheduled over a period extending through 1981. 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. Note 9: The City of Brooklyn Center has been named as a co-defendant in a lawsuit related to an alleged sale of liquor by one of the City's liquor stores. The City, if the plaintiff were successful, could sustain a substantial loss because the amount of the suit materially exceeds the amount of insurance coverage. It is the opinion of the City attorney that the City will successfully defend itself against the suit. These notes are an integral part of report dated June 7, 1972. i _82_ 5 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 i i i y i 1962 Population 26, 858 (E) Real Property Assessed Value: Homestead 5, 735, 766 Excess and Non-Homestead 2, 831, 501 Total Assessed Value 8, 567, 267 E stimated V alue: Full and True 30, 021, 816 Market 90, 975, 200 Personal Property Assessed Value 1, 130, 847 Estimated Value: Full and True 2, 946, 702 Market 7, 940, 106 Total Real and Personal Property Assessed Value 9 698 114 Estimated Full and True Value 32 968 518 Estimated Market Value 9g, 915, 306 Ratio of Total Assessed Value to Total Estimated Full and True Value .29416 Estimated Market Value 09�04:1 Per Gapita Valuations Assessed Value 361.09 Estimated Full and TruE Value 1, 227. 51 Estimated Market Value 3, 682. 90 f i -83- 5chedule 1 City of Brooklyn Genter ASSES5ED VALUE AND E5TIMATED TRUE VALUE AND MARKET VALUE OF ALL TAXABLE PROPERTY By Budget Years 1963 i964 1965 1966 �967 1968 1969 1970 �9�i L972 29, �03 (E) 29, 024 (E) 30, 108 31, 500 (E) 31, 570 (Ej 33, 000 (E) 34, 306 (E) 34, 717 (E) 35, 173 36, 37� (E) 5,816,001 5,949,469 6,101,889 6,262,938 6,378,859 1Q,148 ,539(2) tt,970,877(2) 12,472,359(2) 6,882,636 15,956,478(2) 4, 106, 321 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) 9,922,32 10,381,944 11 12 i4,290,018 15,242,320 19,340,587 20,646,311 25,971,942 26,456,957 33,596,832 34,879,063 38,711,13Q 39,765,314 45,335,857 47,862,541 58,283,382 6I,796,482 75,34U,288 76,641,045 �$101, 808, 581 $104, fn37, 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 �1) 1, 275, 518 1, 336, 486 1, 258, 488 1, 222, 654 1, 301, 952 1, 574, 574 1, 603, 159 1, 619, �7� l, 588, 260 I, 3I3, 422 3 3 3 313 3, 575, 949 3, 364, 504 3, 271, 781 3, 511, 171 3, 410, 110 3, 510, 323 3, 548, 068 3, 464, 717 3, 576, 728 9 10,179 10,727,847 10,093,512 9,g15,343 10,533,513 10,230,330 10,530,969 10,644,204 10,394,151 10,730,184 (1, (1) (1) tl, 11, 197, 840 11, 718, 430 13, 054, 621 13, 371, 017 15, 591, 970 16, 816, 894 20, 943, 746 22, 265, 388 27, 560, 202 27, 77p, 37g 36 38,455,012 42,075,634 43,037,095 48,847,028 51,272,651 61,793,705 65,344,550 78,805,005 80,217,773 $111,988,520 $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 30272:1 30473:1 31027:1 31069: 1 31920: 1 3279�:1 33893:1 34074:1 34q73.1 34619:1 09999 1 10158:1 10342:1 103 56:1 10640: 1 10933: 1 11298: 1 113 58: 1 11658.1 11540:1 397. 04 403. 75 433. 59 424. 48 493. g9 509. 60 610. 50 641. 34 783. 56 763. 55 1, 311. 57 1, 324. 59 1, 397. 49 1, 366. 26 1, 547. 26 1, 553. 72 1, 801. 25 1, 882. 21 2, 240, 50 2, 205. 60 3, 970. 80 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 (1) Includes $306, 708 exempt property for replacement tax purposes authorized by laws of 1967, Chapter 32, extra session (2) Includes excess homestead (3) Excludes excess homestead -84- MOEN PENTTILA Area School District County Year Voc-Tech #286 #279 #281 #11 Spe`cial Collectible City School (Earle Brown) (Osseo) (Robbinsdale) (Anoka) Districts �1) �2) �3) (4) Tax Rates Mills Per $1. 00 of Assessed Value 1953 34.20 88.80 61.00 70.00 50.00 29.89 1954 40.30 163.80 76.70 75.40 87.56 29.66 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 .00 106.60 119.90 108.6� 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 1962 48:54 211.59 179.99 158.69 134.00 45.40 1963 50.12 219.00 184.62 154.72 131.09 47.23 1964 50. 68 225. 60 189. 62 150. 08 134. 85 52, 51 1965 49. 80 215. 26 195. 50 154. 72 144. 77 59, 69 1966 51.62 227.22 199.98 155.00 153.23 55.66 1967 51.62 227.90 203.00 158.76 160.00 53.30 ,1968 51.34 236.29 211.80 163.56 188.32 64.77 •1969 50. 94 78 266. 63 252. 28 184. 57 265. 29 70. 00 1970 49.65 4.51 294.55 295.42 215.01 297.66 77.18 1971 44.11 7. 250.31 216.00 204.90 257.09 77.02 1972 43.04 10.38 1$3.24 166.09 147.20 173.6$ $0.45 Area Tax Levies on Property Within Brooklyn Center Year Voc-Tech Collectible School #286 �27,9 #281 #11 1953 81, 574 10, 410 25, 352 5, 557 1954 176,1b5 14,335 31,718 11,203 1955 226,198 27,256 39,251 12,538 1956 290,011 36,956 68,649 15,171 1957 239,666 76,912 170,396 24,547 1958 303,466 134,960 202,292 24,298 1959 327 237,021 228,907 30,38? 1960 427,311 465,174 248,382 42,211 1461 497,907 665,299 320,�97 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 19b5 668,961 976,585 614,756 140,923 196b 728,353 1,003,287 623,412 171,92b 1967 836,669 1,142,570 790,174 210,428 1968 888,b84 1,200,483 901,846 295,160 19b9 16 ,096 1,238,004 1,724,773 1,317,751 535,263 197� 99, 033 1, 375, 490 2, 071, 747 1, 68g, 434 719, 896 1971 2�6, 938 i, 580, 568 1, 852, 2b8 1, $$g, g69 807, 230 1972 255, 036 1, 190, 094 1, 436, 342 1, 387 686 555, 856 (1)=Formerly #118 (2)=Formerly #28 (3)=Formerly #24 (4)-Formerly #29, #220 -85- �ity of Brooklyn Ce.nter 5chedule II TAX RATES AND TAX LEVIES Years 1953 Through 1972 Total City, School, County and State N. H. S. State Dist. #286 Dist. #279 Dist. #281 Dist. #11 N. H. 5. I�. S. (Earle Brown) (_Osseo) (Robbinsdale) (Anoka) 6.84 4.58 159.73 131.93 140.93 120.93 9, 54 5, 2g 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. 62 204. 92 193, 66 181. 57 12.62 6.01 224.13 216.73 205.86 187.37 12.42 5.90 234.73 250.45 218.97 208.74 14. 32 8. 10 273. 02 263. 10 225, 56 220. 16 13.85 6.84 293.21 266.57 242.77 227.10 15. 51 6, 39 321. 04 289. 44 268. 14 243. 45 16. 85 8. 31 333. 20 29g. g2 268. 92 245. 29 17.14 8.22 345.93 309.95 270.41 255.18 16.14 6.84 340.89 321.13 280.35 270.40 18.42 18.32 352.92 325.68 280.70 278.93 17.24 17.14 349.89 324.99 280.75 281.99 352. 40 327. 91 279. 67 304, 43 388.35 374.00 306.29 386.23 425.89 426.76 346.35 424.49 379. 40 345. 09 333, 99 378• 22 3�7 .11 �99.96 281.07 297.17 Total School Countv City State Total City, Schools, County State 122,893 66,412 53,678 8,433 25i,416 233,421 82,946 74,169 12,765 403,301 305, 243 104, 114 95, 808 12, 651 517, 816 410,787 136,728 122,573 16,578 686,666 511,521 214,395 207,532 27,859 961,307 665,016 309,786 262,840 48,723 1,286,365 823,954 252,434 333,000 54,601 1,463,989 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 4,207,089 2 828,401 804,858 268,168 4,881,268 3,286,173 1,069,364 847,632 5,203 4,831,887 1,444,592 1,051,250 7,327,729 5,955,600 1,694,770 1,090,248 8,740,618 6,346,973 2.,099,064 1,202,152 9,648,189 4, 825, 014 2, 234, 127 1, 195, 237 8, 254, 378 -86- Schedule III C ity of B rooklyn C ente r NOTES TO TAX RATES AND TAX LEVIES Years 1950 Through 1971 Tax Limitation by Statute: $54.00 per capita exclusive of taxes levied for local.improvements (as amended) Debt Service not included in above limitation Taxes Due Date: First Monday in January Taxes Delinquent Date: Personal Property March 1- amounts over $10. 00 first half March 1, second half July 1 Real Estate first half May 31, second half October 31 No discount allowed Penalties for Delinquency: Personal Property 8% Real Estate June 3°jo, July 4°jo, August 5%, 5eptember 6 October 7%, November and December 8°jo, after first Monday in January 10% Tax sale date second Monday in May Taxes are collected by the County Treasurer of Hennepin County Tax collections are distributed in the proportion of the City levy to aIl levies -87- Collections Percentage �ollections of Current of Levy of Prior Total Year's Taxes Collected Year's Taxes Year Tax During Fiscal During Fiscal During Fiscal Collected Levy Period Period Period 1962 463,483 457,010 98.60 3,848 1963 555,178 545,757 98.30 4,712 1964 587,636 573,684 97.62 8,082 1965 643,014 624,056 97.05 8,186 1966 683,060 674,192 98.70 13,069 1967 799,792 776,663 97.11 7,710 1968 868,807 851,452 98.00 14,205 1969 1, 068, 236 1, 036, 863 97. 06 16, 612 1970 1, 112, 080 1, 086, 177 97. 6$ 20, 620 1971 1, 224, 739 1, 112, 685 90. 85 22, 252 r Note: The City's taxes are the only ones included in this table. -88- Schedule IV C ity of B rooklyn C ente r TAX LEVIE5 AND TAX COLLECTIONS Last Ten Years 'Ratio of A c cumulated Ratio Delinquent of Total Accumulated Taxes to Total Gollections Delinquent Current Year �ollections to Tax Levy Taxes Tax Levy 460, 858 9943 $10, 042 02167:1 550, 469 9915:1 14, 446 02602:1 581, 766 9900:1 19, 926 03391:1 632, 242 9832:1 28, 985 04508:1 687, 261 1. 0062:1 23, 619 03458:1 784, 373 9807:1 38, 737 04843:1 865, 657 9964 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 r _89_ Current Special Assessments Amount Ratio of Ix�stallments Becoming Collected Current Fiscal Due During Currently During Collections to Period the Fiscal Period the Fiscal Period Amount Due 196t $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, 993 393, 593 8845:1 1966 429,759 394,942 .9190:1 1967 490,397 458,324 .9346 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, 49� 7817:1 -90- City of Brooklyn Center Schedule V SPECIAL AS5ESSMENT COLLECTION5 Last Ten Years Total Current and Delinquent Percentage Balance Assessments Uncollected Collected Uncollected At Year End Throu�h 12 /31 /7I As of 12 /31 /7! 45 796 99.3164% 2,623 51, 692 .98. 9644% 4, 336 73,472 98.4852 6,973 119,525 98.3871 7,246 136, 775 98. 1732 S, 129 135,667 I04.2224 18,146) 128, 705 99 2263 3, 794 142, 441 99 1249 4, 423 I 136, 043 97. 6046 12, 910 165, 592 97. 6498 15, 986 232, 717 78. 1707 184, 443 I� I I I -91- Penaltie s and Interest Licenses Fines Fi s cal F rom and and Period Property Taxes Permits Forfeitures 1962 3,178 38,809 27,974 1963 4,647 32,308 24,813 19b4 3,1b8 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 2 67 837 53 638 9 I -92- i I Schedule VI City of Brooklyn Center REVENUES OTHER THAN PROPERTY TAXES AND SPECIAL A5SES5MENTS Last Ten Years Revenue from Charges for Revenue in Excess Use of Current of Expenditures 5hared Money and 5ervices and other Public Liquor Taxe s Prope rty Revenue Utilitie s 5tores 92, 197 16, 084 71, 438 5, 861 82, 101 102 28,451 88,573 50,460 89,058 101, 578 20, 671 217, 644 83, 793 99, 565 122, 588 29, 954 129, 819 55, 024 106, 541 156, 536 24, 540 249, 364 109, 256 114, 227 232,615 40,025 118,511 125,962 125,310 325,221 82,641 113,947 131,280 146,551 296,639 61,581 339,363 161,925 175,884 376, 359 47, 322 125, 944 331, 351 172, 761 414 936 37, 070 233, 537 276 935 168 406 5chedule VII City of Brooklyn Center EXPENDITURE5 FOR 5ELECTED FUNCTIONS Last Ten Years Public Parks Fiscal General Safety and and Period Government Welfare Hi�hwavs Recreation 1962 $152,644 $188,179 $231,871 $111,144 1963 173,736 194,900 229,569 125,352 1964 169,019 230,102 293,301 175,049 1965 194,888 258,719 291,306 167,042 1966 218,335 290,232 306,616 310,219 1967 217,138 338;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 40�,615 337,106 1971 444, 061 648, 149 452, 245 481, 854 -94- Gross Fiscal Estimated Assessed Bonded Period 1'opulation Value Debt 1 62 26 858 6 8 14 9 9, 9, 1 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 7,626,400 1970 35, 173 22, 265, 388 10, 733, 000 1971 3b, 370 27, 560, 202 10, 005, 000 i i _95_ i Schedule VIII City of Brooklyn Center EtATIO OF NET BONDED DEBT TO AS5ES5ED VALUE AND NET BONDED DEBT PER CAPITA Last Ten 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 32I7:1 116. 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 1,499,09b 3,764,104 .2815:1 119.49 1, 773, 834 3, 010, 966 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 2980:1 225. 78 i i i i -9b- 5chedule IX City of Brooklvn Center 5TATEMENT OF LEGAL DEBT MARGIN .December 31, 1971 •Assessed value $27, 770, 379 i 2 of assessed value 5, 554, 076 Debt lim t 0% Total bonded debt $10, 030, 000 Deductions: 1. Debt Service Funds (General Obligation) 36, 850 5 Assessment 2. pecial Bonds 5, 585, 000 815 000 6 436 850 3. Utility revenue bonds Total Debt Applicable to Debt Limit 3, 593, 150 Le�al Debt Mar�in, December 31, 1971 1, 960 926 i -97 Schedule X City of Brooklm Center COMPUTATION OF DIRECT AND OVERLAPPING DEBT December 31, 1971 City of Brooklyn Center Share Net Debt ;G overnmental Unit Out standing 1) Fe r C ent 2) Amount City of Brooklyn Center 8, 211, 723 100. 00% 8, 211, 723 (3) Hennepin County 19, 487, 662 2. 7 526, 167 Hennepin County Hospital 7, 693, 365 2. 7 207, 721 Hennepin County Park District 5uburban share 7, 004, 814 2. 7 189, 130 Suburban Mpls, share 3, 002, 063 4. 6 138, 095 Hennepin County Library 7, 610, 000 4. 8 365, 280 I. S. D. No. 281 33, 763, 058 10. 2 3, 443, 832 I. S. D. No. 11 43, 001, 587 5. 9 2, 537, 094 I. S. D. No. 279 24, 504, 372 26. 8 6, 567, 172 I. S. D. No. 286 2, 735, 491 100. 00 2, 735, 491 Metropolitan Council 57, 271, 769 1. 5 859, 077 Metropolitan Transit Commission 6, 100, 000 1. 5 91, 500 Total Direct and Overlappin� Debt (Net of S.inkin� Funds) $25, 872, 282 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 $4, 014, 418 net debt outstanding to be.paid from special assessments -9g- Year Principal Interest 1962 $39,300 $16,403 1963 33,000 14,800 1964 33,300 13,855 1965 33,300 14,977 1966 50,800 24,213 1967 59,400 22,280 1968 51, 000 19, 604 1969 51, 000 37, 608 1970 49, 600 164, 778 1971 68,800 228 ,351 -99- 5chedule XI City of Brooklyn Center RATIO OF ANNUAL DEBT 5ERVTCE EXPENDITURES FOR GENERAL BONDED DEBT TO TOTAL GENERAL EXPENDITURE5 Last Ten Years Total Total Ratio of Debt Debt General Service to General Service Expenditures Expenditures (°jo) $55, 703 710, 212 7. 84 47, 800 772, 978 6. 18 47, 155 882, 557 5. 34 48, 277 942, 720 5, 12 75, 013 1, 335, 428 5. 62 81, 680 1, 185, 075 6. 89 70,604 1,369,842 5.15 88, 608 1, 591, 987 5. 57 214, 378 1, 679, 129 12. 77 297, 151 2, 210, 671 13. 44 -100- Net G ro s s (1) Revenue Year Revenue Expenses Available 1962 $161 71,841 89 ,751 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 743,316 292,818 450,498 19b9 854,367 3b0,249 494,118 1970 1,060,322 400,824 659,498 1971 1, 140, 730 558, 189 582, 541 (1) Excludes depreciation and interest on bonds -101- 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 5ervice 5, 000 5, 448 $10, 448 8. 6 to 1 13, 000 21, 572 34, 572 7. 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 4I, 305 79, 305 6. I 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 I -102- II Schedule XIII Citv of Brooklyn Center MI5CELLANEOU5 STATI5TICAL FACTS December 31, 1971 Date of Incorporation February 14, 1911 Date of Adoption of City Charter November 8, 1966 Effective December 8, 1966 Form of Government Council Manager Fiscal Year Begins January 1 Area of City 8 1/2 square mile s Miles of 5treets: City 97. 34 5tate 12. 38 C ounty 5 82 Miles of Storm Sewers 36.39 Number of Street Lights 802 Building Permits: Number of Permits Issued: 1971 425 1970 404 1969 460 1968 544 1967 493 19b6 430 1965 465 1950 1964 inclusive 9, 452 Estimated Cost: 1971 8,487,763 197� 7, 499, 386 1969 $10, 441, 322 1968 $13, 111, 654 1967 7,922,813 19bb 7,261,065 1965 $12, 046, 272 1950 1964 inclusive $94, 362, 208 Fire Protection: Number of Stations 2 Number of Volunteer Firemen 40 Police Protection: I Number of Stations 1 Numbe r of Employe e s 3 5 Vehicle Patrol Units 8 I -103- I Sche u X d le LII C ont'd City of Brooklyn Center MI5CELLANEOUS 5TATISTICAL FACT5 December 31, 1971 Parks and Recreation: 288 acres developed for regular use. 200 additional acres of City- owned land designated for parks and playgrounds to be developed, Full-time employee s 14 Part-time employees 350 (seasonal) 5upervised playgrounds 17 Park shelters 17 Ice skating rinks 17 Hockey rinks 6 Softball diamonds 26 Baseball diamonds 5 Wading pools 2 Tennis courts 4 Basketball courts 6 Education: Public Schools: School Districts within Brooklyn Center (4) No. 11 No. 286 No. 281 No. 279 (Anoka) (Earle Brown) (Robbinsdale) (Osseo) Total school buildings 31 2 26 17 School buildings under construction 1 School buildings within Brooklyn Center 1 2 1 3 Total students registered 31, 436 2, 462 27 500 13, 540 Students from B rooklyn Center registered 1, 50? 2, 462 2, 025 5, 435 Total square miles in School District 172 2. 8 30 66. 5 Square miles within Brooklyn Center 1. 5 2.8 2.25 2. 5 1971 assessed valuation 54, 690, 927 6, 494, 730 92, 400, 602 32, 31�i, 690 1971 assessed valua�n in B�6oklyn Center 3, 200, 459 6, 494, 730 9, 427, 215 8, 647, 975 Parochial Schools (1) -104- Schedule XIII C ont' d City of Brooklvn Center MISCELLANEOUS STATISTICAL FACT5 December 31, 1971 Municipal Water P��.nt: Number of connections 6, 255 Average daily consumption 2, 654, 800 gallons Peak daily consumption 7, 583, 000 gallons Plant capacity daily 12, 384, 000 gallons Miles of water mains 100. 936 Number of fire hydrants 744 Numbe r of wells 7 Number of elevated reservoirs 2 Storage capacity 1, 500, 000 gallons Water rate per thousand gallons 35� Municipal Sewer Plant: Number of connections 7 619 Miles of sanitary sewer 95, 8727 Average daily disposal 3, 679, 23? gallons Daily disposal capacity 7, 416, 000 gallons Number of lift stations 9 Residential rate $8. 75 per quarter Municipal Liquor Stores (Off Sale): Number of owned stores 2 Number of leased stores 1 1971 sales $1, 368, 823 City Employees: As of December 31, 1971 Permanent or regular 108 Temporary or part-time 246 Total 3 54 Elections: Registered voters last state election 15, 080 Number of votes cast last state election 10 964 Percentage of registered voters voting 72. 7% Population: 1940 1, 870 1950 4, 284 1960 24, 356 1965 (special census) 30, 108 197� 35, 173 Estimated residential saturation point 49, 000 -105-