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Home My WebLink AboutVillage Audit Report-1965 I Village of Brooklyn Center AUDIT REPORT For the Year Ended December 3I 1965 I TABLE OF CONTENTS Exhibit Page Number Number Opinion 1, 2 General Comments 3-8 Village Officials 9 I�' Location of Village Properties IO Financial Statements Combined Balance Sheet I?ecember 3I, I965 I II General Fund Statements Balance Sheet December 31, 1965 2 I2 Analysis of Chan es in Una ro riated Sur lus g PP P P Year I965 3 13 Statement of Revenue Estimated and Actual Year I965 4 I4, I5 Statement of Expenditures, A ro riations PP P And Encumbrances Year 1965 5 I6 Statement of Expenditures and Encuxnbrances Classi.fied as to Activity, Character and Object Year I965 6 I7 Special Revenue Funds Statements Combined Bala nce Sheet, December 3I 1965 7 I8 Combined Analysis of Changes in Unappropriated Surplus Year I965 8 19 Village of Brooklyn Center AUDIT REPORT For the Year Ended December 31 1965 TABLE OF CONTENTS Exhibit Page Number Nuxnber Special Revenue Funds Statements, Cont'd Park Board Fund Statement of Revenue -�stixnated and Actual Year 1965 9 20 Statement of Expenditures, Appropriations And Encumbrances Year I965 10 21 Statement of Expenditures Classified as to Activity, Character and Object Year I965 I1 22 Poor�� Fund Statement of Revenue and Expenditures Year 1965 I2 23 Bond Funds Statements Combined Balance Sheet December 3I, I965 13 24 Combined Statement of Appropriations And Expenditures Y�ar 1965 I4 25 Debt Service Funds Statements Combined Balance Sheet December 31, 1g65 I5 26 Combined Statement of Revenue, Expenditures And Surplus Year 1965 Y 6 27 i 1 I Village of Brooklyn Center AUDIT REPORT For the Year Ended December 3I 1965 TABLE OF CONTENTS Exhibit Page Number Number Special Assessment Funds Statements Combined Balance Sheet December 31, I965 17 28 Combined Statement of Revenue, Expenditures And Unappropriated Surplus for Debt Retirexnent Year I965 18 29 Statement of Constructa.on Expenditures Compared to Appropriations Year 1965 I9 30 i Statement of Long T erm Debt Principal Amount) December 31, 1965 20 3I t Public Service And Enterprise Funds Statements 1 Municipal Liquor Fund Balance Sheet December 3I, 1965 2I 32 t Analysis of Changes in Surplus Year 1965 22 33 Statement of Incom� and Expense Year 1965 23 34 Statement of Long Term Debt December 31, 1965 24 35 Public Utilities Fund Balance Sheet December 31, I965 25 36 Statement of Operations and Earned Surplus Year i965 26 37 Water Department Operating Expenses Year 1965 27 38 Sewer Department Operating. Expenses Year 1965 28 39 Summary Statement of Plant and Pro ert and P Y Provisions for Depreciation December 3I, 1965 29 40 Statement of Long Term Debt December 3I, I965 30 4I, 42 I Vi9,lage of Brooklyn Center AUDIT REPORT For the Year Ended December 3I 1965 TABL� OF CONTENTS Exhibit Page Number Number A�ency Funds Statements Combaned Balance Sheet December 3I, 1965 31 43 Combbned Statemen� of Revenue, Expenditures And Fund Balances Year 1965 32 44 Investment Trus�C Furad (A fund to accomodate the inves�ment of temporary cash surpluses) Balance Sheet December 3I I965 33 45 Statement of Earnings Year I965 34 46 Changes in Participatbng Fund Balances Year I965 35 4? 1 General Fi.xed AssEts and General Lon Term g Debt Suxnmary Statement of General Fixed Assets December 3b, I�65 36 48 Su�xnmary Statement o£ G�neral Long Term Debt and Interest December 3I 1965 37 49 Schedule of General Long Term Debt and Interest by Ma$uriti.es 38 50 Notes to Financial Statemen.�s 5I�53 Note I All Funds No�e 2 5pecial Assessment Funds No�e 3 Sgecial Ass�ssment Funds Note 4 Municipal Liquor Fund Note 5 Muni�ipal Liquor Fund Note 6 Public Utili�ies Fund Note 7 Summary Statement of General Lon� Term Debt and Interest Note 8 All Funds MOEN PENTTILA CERTIFIED PUBLIC ACCOUNTANTS 1210 GLENWOOD AVENUE MINNEAPOLIS,MINNESOTA 55405 DIAL 877-5180 To the Village Council Village of Brooklyn Center Brooklyn Center, Minnesota Gentlemen: We have examined the financial statements of the various funds of the Villa e of Brookl n Center as of December 3I, 1965 and for the calendar year g Y then ended. Our examination was made in accordance with genErally accepted auditing standards and, accordingly, included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances. 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 procedures and the details of all records (including subsidiary records and supporting data) as to mathematical 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 Village as included in the recoxds maintained by the Department of Finance. I _1_ Village Council Brooklyn Center In our opinion, the accompanying balance sheets and related statements of revenue, expendi,tures and surplus, together with notes appended thereto, present fairly the financial pos�.tion of the various funds of the Villa e of Brookl. Center on December 31 I965 and the results of g Yn I their operations for the year then ended, in con�ormity with generally accepted governmental accounting pxinciples, applied on a basis consistent with that of the previous year. Respectfully submitted, 1 F� Oiva Penttila Certified Public Accountant MOEN PE TTILA N r Field work completed May 25, I966. Report signed June 2, I966. 1 1 1 _2_ Village of Brooklyn Center Audit Year I965 GENERA L COMMENT S Organization The Village of Brooklyn Center was incorporated on February 14, 1911, pursuant to Minnesota statutes (MSA Chapter 412). The Village is governed by an elected Council comprised of a mayor, a clerk and three trustees who serve under a system of staggered terms of office. The Council, with the assistance of various administrative and advisory commissions, formulates the general, policies of the Village and retains direct control over expenditures. The responsibility for carrying out policy and directing Vil,lage affairs is delegated to a Village Administrator, who is the appointed executive officer for the Council. General Operations The Village, in addition to the usual activities of general government, public safety and welfare, highways and recreation, operates three off-sale liquor stores and a public sewer and water utility. Net revenues produced in excess of working capital requirexnents by municipal liquor store operations have been used towards financing current e�pense and capital outla pro rams Y g of the Village general fund. The_net revenues of the public utility have been retained within the Public Utilities Fund and employed for sewer and water utility purposes. -3- Village of Brooklyn Center Audit Year 1965 GENERA L COMMENT S Financial Control and the Bud et g Control over spending for various governmental activities is exercised by the Council through the use of budgetary procedures. Preliminar bud et ro osals for each ensuin ear's o erations are Y g P P gY P prepared and submitted to the Council by the Village Administrator in coordination with the Department of Finance and the various opex°ating departments within the Villa e. This reliminar lan is reviewed and amended and b u h g p y p y a t ora.ty of the Council becomes the formal budget for Village operations. Exclusive authority over all budget matters remains with the Council and all changes and/or n m s 'f' r 1 f h a m e d e n t s r e q u i r e p e c i i c a p p o v a o t e C o u n c i l. t Financial reports, which compare actual performance with the budget, are prepared periodically so that the Council is able to revi.ew the financi.al status and measure the effectiveness of budgetary controls. Governmental budget procedures are not used in connection with the liquor stores or publie utilities operations, because these operations are r primarily of commercial nature and eznploy concepts peculiar to revenue i producing entities. A summary of the budget document for the calendar year 1965 is shown r below: -4- 1 Village of Brooklyn Center Audit Year 1965 GENERAL COMMENTS Financial Control, Cont'd Proposed Expenditures (Public Service Enterprises Excluded) Village operations (General Fund) 812 899 Park general fund l 16, 754 Poor relief I3, 000 Firemen's Relief Association I3, 000 Debt service 50, 8�0. Public Employees Retirement Association 27, 000 County park system 4, 385 Total Proposed Expenditures $I, 037, 918 Proposed Source of Financing Taxatxon (see summary of taxation presented below) 650, 053 Shared taxes (state and federal) 92, 820 Local revenues: Liquor stores $90, 000 Permits, penalties, licenses and fines 69, 000 Services to special assessment funds 85, 000 Services to public utilities fund 9, I20 Recreation receipts 12, 000 Services and other 6, 300 27I, 420 General fund surplus 23, 625 Total Proposed Financing $I, 037, 918 -5- Village of Brooklyn Center Audit Year 1965 GENERAL COMMENTS Financial Control, Cont'd Ad valoxem tax levies for the current year I965 and for the two previous years (1964 and 1963) a.re summarized and presented below: Y965 19b4 1963 Mill Rate Amount Mill Rate Amount Mill Rate Amount Tax Levy Village operations 32, 55 $425, 034 35. 79 $420, 4I9 34. 6I $387, 500 Park general fund 8. 94 I16, ?54 5.90 69, 250 5. 69 63, 773 Poor relief Y. 00 I3, 000 1. 00 11, 745 1. ?9 20, 044 Firemen's Relief Association I. 00 13, 000 I. 00 Y1, 745 lI 086 Debt service 3. 90 50, 880 4. 18 49, 002 4. 52 50, 615 Public Employees Retirement Assn. 2. 07 27, 000 2. 2? 26, 735 2. 12 23, 739 County park system 34 4, 385 37 4, 385 40 4, 479 Total Levy 49. $0 $650, 053 50. 5I $593, 28I 50. 12 $561, 236 I965 1964 I963 Assessed Valuation Real Estate $l I, 796 525 $I0, 409, 834 9, 922, 322 Personal propErty I, 256, 760 I, 336, 486 l, 275, SI8 Total Assessed Valuation $Y3, 053, 285 lI r 746, 320 $I I, I97, 840 The financial condition of each fund as of December 31, 1965 and the 1 results o� 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. _6 Villa e of Brookl n Center Y Audit Year 1965 GENERAL COMMENTS Accountin� System The accountin for all activities of the Villa e is divided into various ur ose g 6 P P groups or funds as required by statute and/or good accounting practice. Except for i minor variances, all funds are maintained on an accrual basis and in conformi�y with generally accepted accountin rinci les a plicable to overnmental entities as set g P P P g forth by the National Committee On Governm�ntal Accounting. The accounts of the Villa.ge are classified in conformance with classifications rescribed b the Public Examiner's office Classification o� Accounts for Use b p Y Y Fiscal Officers in Cities and Villages as issued pur'suant to Minnesota Statutes Section 2I5. IO}. The accounting system which is used. for the Public Utilities Fund is ado ted from a s stem s ecif'c 11 desi ne for munici all owned util'ties b P Y P x a Y g d A Y 1 Y the American Water Works Association and is permissible under the Examiner's order establishing account classifications for municipalities. A c countin and b g ookkeeping for all Village activities are centralized under the Department of Director of Finance. The responsibility for maintaining and pre- I scribing all financial records, establishing and maintaining internal control, and preparing financial and budgetary reports are delegated to this department. -7- Village of Brooklyn Center Audit Year 1965 GENERAL COMMENTS Additional Reports A separate report covering the examination of the records of the Village has been prepared and directed to the Council. The purpose of this report is to a.ssist the governing body of the Village in an advisory capacity by submitting specific recommendations and suggestions concerning the administration of financial affairs. This report, as such, is not a financial report and nothing contained therein would be materially relevant to the fairness of the representations as contained on this audit report. The audit agreement includes a provision that the accounts of the "Brooklyn Center Fire Department Relief Association, which is an organization distinct and separate from the Village of Brooklyn Center, be audited. The audit report con- cerning the activities of this entity has been directed to the association under separate cover. -8- Villa�e of Brooklyn Center LISTING OF VILLAGE OFFICIALS December 3I, 1965 Term of Office Term Expires Village Council (Elected} Mayor Gordon Erickson Two years 12-3I -65 Village Clerk Earl Simons Two years 12-3I -66 Trustee John Leary Three years I2-3I -67 Trustee Phil Cohen Three years I2-31 -65 Trustee Howard Heck Three years 12-3Y -66 Other Elected Officials I Village Treasurer Theodore L. Willard Two years I2-31-65 Officials Not Elected Village Administrator A. ,T. Lee Assistant to the Administrator Al1en S. Lindman Administrative Assistant Th.omas Hadd Administrative Assistant Richard Gihoski Department Heads: Finance Paul W. Holmlund Engineering Donald G. Poss Police Thomas G. O'hehir Fire Carl Anderson Protective Inspectian Donald Stark Civil Defense Edwin Coleman Public Utilities Frank Smith, Jr. Streets and Highways Henry I?avis Liquor Stores Truman Nelson Parks and Recreation Eugene Hagel Village Assessor John Nordberg Health Officer R. I. Shragg, M. D. Fire Marshall Robext Cashman Sanitarian Charles Schneider Park Board Paul Bullen, Chairman Francis Irvin Mrs. Janet Johnson _g_ u� �m 1111I .11 I mmn� n� n� =iiii\NiNm�� I e n on a S V� �u�T�N J a y l I'. .�es� S: /M �ap�` umq u ui Y �1.■ Z C rs T e •ii��;�n G) n u� ��I'„ �i i i i ��I� �:c� i�� ii ��1�� t °9Y��nm�Wt S� �►i�Ci nA� �I d u. �a=', I 1 j s I S j' m� J_ v �-�a N .�y��„ ��IL ��i �im .f,��,..,,.,.. p:. =1 C. :�1 i1 CC- u�l��unm. �1 �,ab �1= e�� i �..qn� _I'= r p. e t I y 1 a? el iMn��, S6"�: 1�;� I 1� �inp ��i�� wm Ji :ri►�i 'udra i�i� �:on�i��Ni� s i Z �Vnuu�mm■■■...u��. ai� C nm �uu�T�� 11 IItl111�h. �I�� C nununnmq�� Ii p1��i�nTimnn��\ �1 ��I I�Ib��I� �nn�n�l��nu��=� ,1��` I�O�� '�I�IIij� y n�d11111�If.nn\O�� nHn1 °UIb °�i9� ��n� 1 11�/�plj�I�Aii =��r�� i o� ,I 111111/ j��IjII�� i' v�7 n�� 1\� null I�IIt1► 1 �i� �t p;''I�� I�. iiii!��\i t i�l1�� l s n �iu o II�n y, 4� noiG �nm 1 u an1 np ��in�� Q�., C i u m �nn�'�u ��n� p „��=-I� �a n�u ��1111� I,� j0�i f ��i►� -'num. pnnm ��e i! n ux� r :r u�► 'niY= t� "�n nx�� I�� 1 I L �a�� i mmmmm� 3 �Sl�� o 4C a� r �i a ��5�� I =a a :'�e' x I s=ia a" a m� n._ i��a-:l��i�1=��11�11 Iq�lt� °1 n �a� _1 n�i��. 1 �II �.'�i� i ��JIJ 1\ i a ��S��i�� a �C i C I S I �e�� iE:: 1 r i I �e iin �x��.11la a 1'. p ..,i 1 i��E�� E R i i e g`� IS��_ si�� a r �1�1�� r� 1 Combined Explanation T otal (Note I Assets and Resources Cash on hand and in depositories 336, 957 Temporary investments I, 205, 250 Accounts receivable 77, 352 Accrued revenue 37, 523 Due from other funds 462 694 Cash held by County Treasurer's office I0, 53I Taxes receivable 28, 985 Special assessment receivables 5, I5&, 6I4 Cash held by paying agents for debt and interest 648, 112 Inventories and supplies 103, 128 Securities held for investment and securities authorized for sale 1, 727, 09I Prepaid expenses and deferred charges 2, 763 Fixed assets (net of depreciation where applicable) I2, 885, 217 Unassessed construction 342, 607 Amount available general debt and interest I5, 858 Amount to be provided general debt and interest 595, 260 Totals $23, 637, 942 Liabilitie s Vouchers and accounts payable 150, 663 Contracts payable 14, 9I5 Assessments payable 148, 856 Accrued expenses Y53, 742 Due to other funds 462, 694 Construction and debt redemption loans payable 742, I00 Customer and contractor deposits 133, 072 Bonds and certificates payable 6, 287, 500 Due funds participating in investment trust 1, 586 998 Interest payable in £uture years (general debt) I08, 680 Total Liabilities 9, 789, 220 �urplus, Reserves and Fund Balances Surplus and surplus reserves set aside 1, 274, 024 Contributed surplus 7, 274 466 Investment in general fixed assets 5, 184, 379 Unexpended appropriations, authorizations and balances 115, 853 Total Surplus, Reserves and Fund Balances $I3, 848, 722 Totals $23, 637, 942 Village of Brooklyn Center COMBINED BALANCE SHEET ALL FUNDS AND GROUPS (CONDENSED FORMj Exhibit I December 31, 1965 Special Debt Special Municipal Public General General Debt General Revenue Bond Service Assessment Liquor Utilities Agency Investment Fixed Assets and Fund Funds Funds Funds Funds Fund Fund Funds Trust Fund Group Interest Group Exhibit 2) Exhibit 7) Exhibit 13 Exhibit 15 Exhibit 17 Exhibit 21) Exhibit 25 Exhibit 3 I) (Exhibit 33) Exhibit 3 6) Exhibit 37 44, 576 60, 158 145 1, 508 4, 887 68, 4I3 45, 320 16, 653 95, 297 I07, 340 2b, 499 I1, 707 99, 103 26, 509 916, 670 17, 42Z 7, 410 304 I, 815 220 64, 151 3, 452 25, 388 12, 135 106, 072 I2 30 355, 548 999 33 2, 365 679 274 6, 990 223 19, 529 5, 231 2, 360 1, 865 5, 061, 382 97, 232 549, 324 15, 104 44, 766 38, 918 10, 037 89, 363 3, 728 230, o00 1, 497�, 091 1, 423 1, 340 2Q, 097 7, 680, 741 $5, I84, 379 342, 607 15, 858 595, 260 $297, 329 92, 883 $230, 145 15, 879 $6, 421, 656 $221, 129 $8, 880, 335 39, 648 $1, 604, 523 $5, 184, 379 $650, 036 36, 099 1, 574 2, 601 24, 685 25, 969 59, 7I8 I7 4, 226 I 0, 689 $I48, 856 20, 369 1, 781 100, 958 7, 289 23, 345 5, 768 54, 494 I, 904 2I 384, 894 2, 200 13, 393 20 175, 500 566, 600 115, 564 17, 508 4, 796, 000 99, 000 I, 000, 000 392, 500 1, 586, 998 I08, 680 62, Z36 62, 075 $1.80, 005 21 $5, 873, 137 $134, 458 $I, 222, 709 ZO �I, 604, 5"L3 �650, 036 1 8 160 3 628 $235, 093 30, 808 498 664 86, 67 3 3, 9, 7, 274, 466 $5, I84, 379 50, I40 15, 858 49, 855 $235, 093 30, 808 50, 140 15, 858 548, 519 86, 671 $7, 657, 626 39, 628 �5, I84, 379 297 329 92 883 230 145 I5 879 $6, 421 656 $221, 129 $8, 880, 335 39, 648 $I, 604, 523 $5, 184, 379 650, 036 (See notes to financial statements) This statement is an integral part of report dated May 25 1966 -ll- 1 Exhibit 2 Village of Brooklyn Center 1 General Fund BALANCE SHEET December 3I, Y965 ASSETS Assets Cash on hand and in depositories 44, 576 Temporary investments I07, 340 Accounts receivable 7, 410 Due from other funds I06, 072 Cash held by County Treasurer's office 2, 365 Taxes receivable: Real estate and personal property taxes: Levied during 1964, collectable in 1965 12, 406 Prior years' Ievies 7, 123 I9, 529 Tnventories of supplies; Materials and supplies 7, g(�1 Small tools 2, 176 10, 037 Total $297, 329 LIABILITIES, RESERVES AND SURPLUS Liabilities a Vouehers payable 36 099 Accrued payroll Z0, 369 Due to other funds 5, 768 Total Liabilities 62, 236 Surplus Reserve for 1965 budget encumbrances 12, 405 Reserve for imprest cash and prepaid or deferred expenditures Y0, 247 Unappropriated surplus (Exhibit 3) 2I2, 441 1 Total Surplus 235, 093 Total $297, 329 (See notes to financial statements) This statement is an integral part of report dated May 25, 1966 1 -I2- Exhibit 3 Village of Brooklyn Center General Fund ANALYSIS OF CHANGES IN UNAPPROPRTATED SURPLUS Year 1965 Actual Budget Over (Under) Actual Estimate Estimate Unappropriated Surplus, January 1, 1965 180, 556 I80, 556 Add: Revenue (Exhibit 4) 834, 024 ?94, 628 39, 396 Decrease to reserves for assets set aside for specific use 4, 331 4, 33I Total Balance and Additi,ons $1, 018 9Y 1$ 975 184 43, 727 Deduct: Expenditures (Exhibit 5) 794, 065 822, 587 28, 522) Encumbrances (Exhibit 5) 12, 4D5 I2, 405 Total Deductions 806, 470 822, 587 I6, I 17) Unappropriated Surplus, December 3I, 1965 272, 44Y Y52, 597 59, 844 (See notes to financial statements) This statement is an integral part of report dated May 25 1966 1 i 1 -13- Exhibit 4 Villa�e of Brooklyn Center General. Fund STATEMENT OF REVENUE ESTIMATED AND ACTUAL Year I965 A ctual Budget Over(Under) Actual Estimate Estimate Taxes Real estate and personal property taxes $424, I87 $425, 034 847) Penalties and interest on tax bills 6, 489 4, 000 `2, 489 Total Taxes $430, 676 $429, 034 1, 642 Licenses, Permits and Fines Building permits 22, 724 Fines, forfeitures and penalties 22, 067 Electrical permits 5, 710 Heati.ng permits 5, I70 Plumbing permits 3, 958 Sewage and water permits 2, 451 Dog licenses and pound fees I, 588 Electrical licenses I, 179 Bicycle licenses f_ Y, 097 Zoning charges and special permits 1, 048 Plumbing licenses 924 Heating licenses 730 Certificates of occupancy 564 Cigarette licenses 437 Gas piping licenses 3I5 Well permits 287 Well drillers' licenses 220 Bowling alley licenses I70 Service station licenses 122 Taxi cab license 104 Garbage and rubbish hauling licenses 92 Bingo licenses 73 Malt licenses 45 Miscellaneous licenses and permits (categories under $100) 4i2 Total Licenses, Permits and Fines 71, 481 65, 683 5, ?98 I Shared Taxes State cigarette and liquor taxes 84, 56I 66, 800 17, 76I` State aid for street maintenance and construction 2Y,'990 21, 335 655 Mortgage registry tax 5, 688 5, 000 688 I Mobile home registry tax 54 54 Total Shared Taxes $1I2, 293 93 I35 19, 158 1 -14- Exhibit 4 Village of Brooklyn Center Cont'd General Fund STATEMENT OF REVENUE ESTIMATED AND ACTUAL Year Y965 A ctual Budget Over(Under) Actual Estimate Estimate Char�es for Current Services Recrea�ion 15 �96 12, 000 3, 896 Assessment searches, photos, platting fees, etc. and other general governmental services 1, 856 1, 300 556 Total Charges for Current Services 17, 752 13, 300 4, 452 Charges to Other Funds �Engineering and clerical fees 62, 375 85, 000 22, 625) Rent and administrative charges: Public Utilities Fund 9, 120 9, 120 Expense reimbursements Liquor Fund 660 660 Work order charges use of equipment 20, 475 20, 475 Total Char�es to Other Funds 92 630 94 I20 I, 490) Other Interest on temporary investments 4, 400 5, 000 600) Police auction I 066 I, 066 Rent Minnesota Highway Department 577 577 Flood disaster funds 3, 630 3, 630 Civil defense reimbursements 2, 30� 4, 356 2, 055) Sale of miscellaneous assets 2, 551 2, 551 Court rental 369 369 Miscellaneous Y, 243 1, 243 Total Other 16, I37 9, 356 6, 78I 1 Transfers In Municipal Liquor Fund 93, 055 90, 000 3, 055 Total Revenue $834, 024 $794, 628 39, 396 (See notes to financial statements) This statement is an integral part of report dated May 25, I966. -15- Village of Brooklyn Center Exhibit 5 General Fund STATEMENT OF EXPENDITURES, APPROPRIATIONS AND ENCUMBRANCES Year 1965 1965 Budget Appropriations Expenditures and Encumbrances (Over Expended) Original Amendments During 1965 Final 1965 Dec. 3I, I965 Under Expended I965 Budget Increases Decreases 1965 Budget Expenditures Encumbrances Appropriations General Government Mayor, Council and Treasurer 26, 675 8, 178 18, 497 14, 122 4, 375 Court 8, 200 8, 200 4, 250 3, 950 Election and voter registration 3, 081 3, 081 1, 787 1, 294 Finance Municipal Clerk 80, 584 I, 162 8I, 746 80, 6I8 487 641 Assessor 14, 933 1, 620 I6, 553 16, 855 450 752) Accounting and internal audit I7, 246 100 I?, 146 18, 198 I, 052) Independent audit 5, 000 5, 000 5, 014 14) Legal I3, 500 13, 500 14, 900 I, OI9 2, 4I9) Charter Commission I, 500 I, 500 306 1, 194 General government buildings 29, 618 4, 522 34, I40 35, 881 1, 001 2. 742) Total General Government $200, 337 7, 304 8, 27$ $I99, 363 $I91, 93I 2, 957 4, 475 Public Safety and Welfare Police protection $i94, 317 1, 300 $I95, 617 $192, 84I 554 2, 222 Fire protection 20, 11I 20, l Il 18, 669 585 857 Protective inspection 29, 739 683 30, 422 3I, 825 418 1, $2I) Civil defense 8, 341 670 9, O11 6, 561 1, 767 683 Animal cantrol 4, 5UQ 4, 500 4, 242 258 Regulations and inspections 4, 000 4, 000 1, 257 2, 743 Nursing service 6, 455 6, 455 6, 455 Total Public Safety and Welfare $267, 463 2, 653 $270, I16 $254, I38 4, 581 $I1, 39? Highways Engineering 80, 536 80, 536 87, 700 23 7, I87) Street department and maintenance shop 179, 726 6, 280 2, 23I 183, 735 165, 615 4, 740 13, 380 Street lighting 3I, 500 3I, 500 33, 124 104 1, 728) Total Highways $29I, 762 6, 280 2, 271 $295, 771 $286, 439 4, 867 4, 465 Recreation Supervision of recreation 11, 912 11, 912 15, 220 3, 308)' Adult programs 6, O50 6, 050 7, 57E I, 52a) Summer playgrounds I2, 025 12, 025 10, 349 1, 676 Summer programs I5, 225 1, 000 16, 225 19, 604 3, 379) Fall and winter sports 8, 125 8, I25 5, 806 2, 3I9 Total Recreation 53, 337 I, 000 54, 337 58, 557 4, 220) Transfers to other funds (Park) 3, 000 3, 000 3, 000 Gxand Total $8Y2 899 $20, 237 $I0, 549 $822, 58? $794, 065 $I2, 405 $I6, I17 (See notes to financial statements) This statement is an integral part of report dated May 25, 1966. -16- i Village of Brooklyn Center Exhibit 6 General Fund STATEMENT OF EXPENDITURES AND ENCUMBRANCES CLASSIFIED AS TO ACTIVITY, CHARACTER AND OBJECT Year 1965 Total Encumbrances Total Current Expense Classification Total Capital Expenditures and Current Personal Contractual Capital Outlay Classification Expenditures Expense Services Services Commodities Other Expenditures Land Equipment General Government Mayor, Council and Treasurer 14, I22 I4, I22 6, 000 6, 134 I, 988 Court 4, 250 4, 25Q 4, 250 Elections and voter registration I, 787 794 739 55 993 993 r Finance Municipal Clerk 8I, I05 79, ?63 46, 062 14, 31I 8, 62I 10, 769 I, 342 I, 342 Assessor I7, 305 16, 402 14, 757 I, 547 98 903 9�3 Accounting and internal audit IS, 198 18, I98 18, 168 30 1 Independent audit 5, 014 5, OI4 5, OI4 Legal I5, 919 15, 919 15, 919 Charter Commission 306 306 176 130 General government buildings 36, 882 27, 391 10, 613 134 3, 585 5, Q59 9, 49I 4, 665 4, 826 Total General Government $194, 888 $182, 159 $117, 448 34, 376 $12, 434 $17, 901 $12, 729 4, 665 8, 064 Public Safety and W elfare Police protection $193, 395 $188, 067 $I66, 737 4, 119 $12, 644 4, 567 5, 328 5, 328 Fire protection 19, 254 17, 343 13, 569 969 2, 421 384 1, 911 1, 91 Y Protective inspection 32, 243 32, 243 30, 455 I, 676 l I2 Civil defense 8, 328 3, 824 1, 85I 955 I, 017 I 4, 504 4, 504 Animal control 4, 242 4, 242 4, 242 Regulations and inspections 1, 257 I, 257 1, 257 Total Public Safety and Welfare $258, 729 $246 976 $2I2, 6I2 13, 2I8 $I6, 082 5, 064 $lI, 743 $11, 743 Highways Engineering 87, 722 85, 074 82, 957 473 1, 599 45 2, 648 2, 648 Street department and maintenance shop 170, 355 I59, 504 98, 906 I, 345 54, 082 5, I7I I0, 85I I0, 851 Street lighting 33, 229 33, 229 33, 229 Total Hi�hways $291, 306 $277, 807 $181, 863 35, 047 $55, 68I 5, 216 $I3 499 $13, 499 1 Recreation Supervision of recreation 15, 220 15, 170 I3, 566 577 977 50 50 50 Adu.lt programs 7, 578 7, 578 5, 443 2, I35 I Summer playgrounds 10, 349 10, 349 8, 848 I, 501 Summer programs 19, 604 19, 604 I2, 903 6, 70I Fall and winter sports 5, 806 5, 806 5, 559 247 Total Recreation 58, 557 58, 507 46, 319 577 $I1, 56I 50 50 50 Transfers to other funds 3, 000 3, 000 3, ODO Grand Total $806, 470 $?68, 449 $558, 242 83, 218 $95, 758 $31, 231 $38, 021 4, 665 $33, 356 (See notes to financial statements) This statement is an integral part of report dated May 25, 1966. -17- Exhibit 7 Village of Brooklyn Genter Special Revenue Funds COMBINED BAL,ANCE SH�EET II December 3I, 1965 Combined Park Board Poor Total Fund �Fund ASSETS Cash on hand and 'an depositories �60, I58 $53, 897 6, 261 1 Temporary investments 26 499 I7 342 9, Y57 Accounts receivable 304 304 Cash held by County Treasurer's office 679 607 72 Taxes receivable: Real estate and personal property taxes: L,evied during 1964, collectible in 1965 3 789 3, 408 38I I Prior years' levies I, 442 1, 199 243 Due from other funds I2 I2 Totals $92 883 $76, 769 $I6, 114 I LIABILITIES, RESERVES AND SURPLUS Liabilities Vouchers payable 1, 574 �594 980 Contracts payable 4, 226 4, 226 Due to other funds 54, 494 54, 474 20 Accrued payroll 1, 7$1 1, 7$1 Total Liabil'aties $62, 075 $61, 075 I, 000 Surplus Unappropriated surplus (Exhibit 8) $30, 808 $I5, 694 $15, I Y4 Totals $92 883 $76, 769 $16, I14 (See notes to financial statements) This statement is an integral part of report dated May 25 1966 I -18- 1 Exhibit 8 Village of Brooklyn Center Special Revenue Funds COMBINED ANALYSIS OF CHANGES IN UNAPPROPRIATED SURPLUS Year I965 Combined Park Board Poor I T otal Fund Fund Unappropriated Surplus, January 1, 1965 I4, 389 2, 547 11, 842 Add: Revenue (Exhibits 9 and I2) 135, g27 I2I, 632 13, 495 1 Deduct: Expenditures and encumbrances (Exhibits YO and I2) l I8, 708) 108, 485) 10, 223) Unappropriated Surplus, December 3I, I965 30, 808 15, 694 I5, l I4 (See notes to financial statements� This staternent is an integral part of report dated May 25 1966 -�9 Exhibit 9 Village of Brooklyn Center Park Board Fund (A Special Revenue Fund) STATEMENT OF REVENUE-ESTIMATED AND ACTUAL Year I965 A ctual Budget Over(Under) Actual Estimate Estimate General property tax $I Y6, 4I6 $T 16, 754 338) Rents 900 900 Concessions 825 825 Interest on investments 342 342 Transfers in from General Fu.nd 3, 000 3, 000 Other (Miscellaneous) Y49 I49 Total $12I 632 $i 19 754 I, 878 (See notes to financial statexnents} This statement is an integral part of report dated May 25 1966 1 _2�_ Exhibit IO Villa�;e of Brooklyn Center Park Board Fund (A Special Revenue Fund) STATEMENT OF EXPENDITURE5, APPROPRIATIONS AND ENCUMBRANCES Year 1965 1965 Bud�et Appropriations (Over Expended) Original Final 1965 Under Expended Function 1965 Budget Increases Decreases 1965 Budget Expenditures Appropriation� General park administration 58, 429 58, 429 56, 5I5 1, 9I4 General park maintenance I0, 375 1 0, 3 7 5 8, 978 1, 39? Park garage 900 900 1, 29� 390) Acquisition of park facilities and equipment 42, 000 $4, 250 46, 250 36, 805 9, 445 Operation of facilities: Grandview Park I, 200 1, 200 I, 27I 71) Northport Park 550 550 528 22 Garden City Park 500 500 531 3I) Happy Hollow Park 250 250 140 110 Brooklane Park 400 400 332 68 Orchard Lane Park 325 325 282 43 Kylawn Park 250 250 294 44) Bellvue Park 250 250 378 128) Willow Lane Park 1, 100 1, 100 927 I73 Wangstad Park 50 50 50 r Lions Club Park 127 127) East Palmer Lake Park 175 175 87 88 Total $116, 754 $4, 250 -0- $12I, 004 $I08, 485 $12, 519 (See notes to financial statements) This statement is an integral part of report dated May 25 1966 -2I- Exhibit l I Village of Brooklyn Center Park Board Fund (A Special Revenue Fund) STATEMENT OF EXPENDITURES CLASSIFIED AS TO ACTIVITY, CHARACTER AND OBJECT Year 1965 Capital Expenditures Classification Total Current Expense Classificati,on TotaZ Land Buildings and Total Current Personal Contractual Capital Outlay And Land Building Activity Expenditures Expense Services Services Commodities Other Expenditures Improvements Improvements Equipment General park administration 56, 515 49, I42 $47, 007 426 92 1, 617 7, 373 7, 238 135 General park maintenance 8, 978 3, 946 3, 936 10 5, 032 5, 032 Park garage 1, 290 I, 290 I, 025 265 Acquisition of park facilities and equipment 36, 805 36, 805 30, 263 726 5, 816 Operation of facilities: Grandview Park 1, 271 1, 271 470 801 Northport Park 528 528 360 168 Garden City Park 531 531 4I2 119 Happy Hollow Park 140 I40 lI6 24 Brooklane Park 332 332 330 2 Orchard Lane Park 282 282 233 49 Kylawn Park 294 294 I75 119 Bellvue Park 378 378 293 85 Willow Lane Park 92? 927 927 Lions Club Park 127 127 115 12 East Palmer Lake Park 87 87 28 59 Total $108, 485 59, 275 $47, 007 $3, 983 6, 658 I, 627 $49, 210 $37, 501 726 $I0, 983 (See notes to financial statements) I This statement is an integraL part of report dated May 25 1966 II I -22- 1 Exhibit 12 Village of Brooklyn Center Poor' Fund (A Special Revenue Fund) STATEMENT OF REVENUE AND EXPENDITURES Year I965 Revenue General property tax special ad valorem levy $12, 997 Interest earned on temporary investments 498 Total Revenue $13, 495 Expenditures Subsistence care and support payments 7, 219 Administrative charge 3, 004 Total Expenditures $I0, 223 Excess of Expenditures Over Revenue 3, 272 S e notes to financial statements) This statem 's ent i an integral part of report dated May 25 1966 i 1 -23- Exhibit 13 Villa�e of Brooklyn Center Bond Funds COMBINED BALANCE SHEET December 31, 1965 Certificates Certificates of of Combined Library Indebtedness Indebtedness Total Bonds #8 #9 ASS�TS Cash in bank 145 I45 C�rtificates and bonds authorized but not sold 230, 000 230, 000 Totals 230 I45 230 145 -0- LIABILITIES AND SURPLUS Vouchers payable 2, 601 2, 60I Due to other funds 1, 904 l 897 7 Construction loans payable 175, 500 I75, 500 Tota.l Liabilities $180, 005 $179, 998 -0- 7 Reserve for authorized expenditures (overexpended) (Exhibit 14) 50, 140 50, Y47 7) Totals $230, I45 $230, 145 -0- -0- See notes to financial statements This statement is an int r-1 ar f eg a p t o report dated May 25, 1966. -24- Exhibit I4 Villa�e of Brooklyn Center Bond Funds COMBINED STATEMENT OF APPROPRIAZ`IONS AND EXFENDITURES Year I965 #g #9 Certificates Certificates Combined Library of of Total Bonds Indebtedness Indebtedness Reserve for Authorized Expenditures Federal grants and General obligation bonds (unsold at I2-31 -65) $260, 000 $260, 000 Certificates of indebtedness (sold during 1964) 35, 500 $35, 500 (sold during 1965) 36, 500 $36, 500 Total Amount Appropriated $332, 000 $260, 000 $35, 500 $36, 500 Less; Expenditures for authorized purposes: Year 1964 I. Voting machines 35, 293 $35, 293 2. Radio equipment 1, 070 Y, 070 3. Library plans and preliminary costs I2, 779 I.2, 779 Total Expenditures 1964 49, 142 12, 779 $35, 293 1, 070 Year 1965 1. Library construc- tion $I97, 074 $797, 074 2. Transfer to debt retirement fund 207 207 3. Street equipment 33, 395 $33, 395 4, Police car 2, 042 2, 042 Total Expenditures-1965 $232, 718 $I97, 074 207 $35, 437 Tota1 Bond Fund Expenditures $28I, 860 $209, 853 $35, 500 $36, 507 Reserve for Authorized Expenditures (Overexpended) December 31, 1965 50, 140 50, I47 -0- 7) (See notes to financial statements) This statement is an integral part of report dated May 25, 1966 -25- ,I Xh•b• E i it I5 Village of Brooklyn Center Debt Service Funds COMBINED BALANCE SHEET December 31, 1965 Certificates 5tate Loan Combined Park of (Cash Basis Total Bands Indebtedness Fund) A SSET S Cash on hand and in depositories Y, 508 93 662 753 Temporary investments I1, 707 lI 569 Y38 Due from other funds 30 30 Cash held by County Treasurer's office 274 I92 82 Taxes receivable: Real estate and personal property Levied during I964, coTlectible I965 1, 44Y I, 004 437 Prior year levies 9Y9 637 282 Totals $I5, 879 $13, 495 1, 63I 753 Due to other funds 21 2Y Unappropriated Surplus T5, 858 I3, 474 Y, 63I 753 Totals $15, 879 $13, 495 1, 63I 753 (See notes to financial statements} This statement is an integral part of report dated May 25 1966 -26- Exhibit I6 1 Villa�e of Brooklyn Center Debt Service Funds COMBINED STATEMENT OF REVENUE, EXPENDITURES AND SURPLUS Year Ig65 Certificates State Loan Combined Pa'rk of (Cash Basis Total Bonds Indebtedness Fund) Unappropriated Surplus, January 1, 1965 $15, 488 $Y1, 2I6 3, 583 689 Add: Revenue General property tax levies 50, 758 34, 292 I4, q32 1, 534 Interest on temporary investments 793 562 23I Transfer from Bond fund 207 207 Total Balance and Additions $67, 246 $46, 070 $18, 953 2, 223 Deduct: Expenditures Principal paid $33, 300 $20, 000 $12, 000 Y, 300 Interest paid I4, 977 12, 540 2, 267 I70 Service charges (paying agent) 56 56 Transfer to General fund 3, 055 3, 055 Total Expenditures $5I, 388 $32 596 $Y7, 322 1, 470 Unappropriated Surplus December 31, I965 $I5, 858 $I3, 474 I, 63I 753 i (See notes to financial statements) This statement is an integral part of report dated May 25 1966 I -27- All Funds Combined Assets Total Cash on hand and in depositories 4, 88? Temporary investments 999, 103 Accounts receivable 1, 815 Due from other funds 355, 548 Cash held by County Treasurer's Office 6, 990 Assessments receivable: Future installments (principal) 3, I09, 04I Delinquent assessments (principal and interest) 136, 775 Park Board Fund (principal no interest charge) 86, 692 Village General Fund (principal no interest charge) 62, 164 University of Minnesota (principal and interest) 406, 495 Interest applicable to I965 on installments due in 1966 4, 730 General Village share for future taxation (principal only) 353, 578 Installments applicable to ta.x forfeit property I, 907 Authorization to assess for construction in progress 342, 607 Cash held by paying agents for debt and interest 549, 324 Totals $6, 421, 656 Liabilitie s Vouchers and contracts payable 24, 685 Accrued expenses and costs 22, 634 Due to other funds 384, 894 Debt redemption loan payable I6, 000 Construction loans payable (Note 2) 550, 600 Bonds payable future years (Exhibit 20) 4, 325, 000 Bonds and interest not redeemed (monies with paying agent) Bonds maturing January 1, I966 471, 000 Interest coupons maturing January I, I966 78, 324 Total Liabilities $5, 873, I37 Unappropriated surplus (deficit) for debt retirement (Exhibit I8) 498, 664 Unexpended appropriations for construction (Exhibit I9) 49, 855 Totals $6, 42I, 656 Village of Brooklyn Center Exhibit I7 Special Assessment Funds COMBINED BALANCE SHEET December 3I 1965 Bond Fund 1955 A I956 AC 1956 B I957 AB I958 A 1958 B I959 AB I960 AB 196I AB I963 1965 I966 No. 1 Fund Fund Fund Fund Fund Fund Fund Fund Fund Fund Fund Fund 72 119 161 90 86 I48 �1,200 799 82 34 2,096 56, 388 129,, 425 139, 400 1, 230 86, 266 92, 577 192, 529 97, 390 33, 448 l I2, 805 45, 892 I I, 753 I, 2I4 60I 4,966 2,271 69 ,I07 3,194 875 275,I35 126 30 180 67 212 295 136 1,749 2,I99 1,996 75, 915 58, 382 I80, 500 40, 752 92, 994 I99, 198 98, 040 241, 249 699, 776 576, 183 482, I38 363, 9I4 910 I, 222 4, 462 245 3, 286 4, 318 823 2, 782 47, 854 56, 705 14, 168 233 750 14, 378 3, 775 32, I53 22, 469 2, 574 10, 360 I3, I7I 36, 456 9, 414 3, I23 64, 805 44, I79 32, 59� 2I7, 680 I7, 490 29, 751 I I2 24 45 4, 549 2, 705 4, 3I9 29, 156 I83, 679 99, 6I7 20, 992 I3, 1 I O 54 14I 759 523 42 388 $342, 607 21, 282 24, 136 56, 502 50, 850 42, 513 3I, 700 24, 530 45, 5I2 115, 005 75, 758 61, 536 $154, 747 278, 260 434, 047 93, 690 232, 594 375, 509 3I7, 417 490, 018 $1, 347 733 $999 809 $670, 584 $684, 64I $342, 607 a 490 24,I95 22, 634 5, OlI 980 578 3, 054 I06, 714 268, 557 I6, 000 550, 600 $113, 000 I72, 000 280, 000 80, 000 325, 000 250, 000 455, 000 I, 205, 000 $860, OOQ 585, 000 I9, 000 2I, 000 50, 000 50, 000 40, 000 25, 000 20, 000 35, 000 I00, 000 60, 000 5I, 000 2, 282 3, I36 6, 502 850 2, 513 6, 700 4, 530 I0, 5I2 I5, 005 I5, 758 I0, 536 $I34,282 196,136 336,502 66,850 122,513 356,700 279,54I 50I,492 $1,321,073 $935,758 $649,590 $679,948 $292,752 20, 465 82, 124 97, 545 26, 840 1I0, 081 18, 809 37, 876 I I, 474) 26, 660 64, 05I 20, 994 4, 693 49, 855 $154, 747 278, 260 434, 047 93, 690 $.232, 594 375, 509 3I7, 4I7 490, 018 $1, 347, 733 $999, 809 $670, 584 $684, 64I $342, 607 (See notes to financial stiatements) This statement is an integral part of report dated May 25, 1966. -28- Exhibit 18 Villa�e of Brooklyn Center Special Assessment Funds COMBINED STATEMENT OF REVENUE, EXPENDITURES AND UNAPPROPRIATED SURPLUS FOR DEBT RETIREMENT Year 1965 Combined Total Bond Fund 1955 A I956 AC 1956 B 1957 AB 1958 A 1958 B 1959 AB I960 AB 1961 AB 1963 I965 All Funds No. I Fund Fund Fund Fund Fund Fund Fund Fund Fund Fund Fund Unappropriated Surplus (Deficit) January I, 1965 $442, 166 $18, 198 $77, 36I $92, 548 $25, l I5 $104, 548 $14, 608 $35, 901 9, 940) $20, 905 $51, I97 $l I, 725 i Addc Revenue for 1965 1965 interest on assessment rolls $191, 338 4, 612 3, 427 $I0, 524 2, 599 6, 433 $I3, 667 6, 949 $16, 405 $47, 895 $40, 259 $33, 928 4, 640 Interest on temporary investments 41, 274 2, 335 5, 289 6, 216 I, 05I 4, 219 3, 590 7, 275 3, 4I4 2, 388 3, 742 1, 702 53 Interest earned on U, of M. contract (Brown properties) I6, 377 2, 49I I, 636 1, 252 9, 026 704 1, 268 i Total Revenue 1965 $248, 989 6, 947 $11, 207 $I8, 376 3, 650 10, 652 $18, 509 $14, 224 $I9, 819 $59, 309 $44, 705 $36, 898 4, 693 Deduct: Expenditures for 1965 Interest expense $I86, I39 4, 565 6, 272 $I3, 005 1, 700 5, 025 $13, 400 9, 060 $21, 025 $53, 140 $3I, 5I5 $27, 432 Paying agent charges 1, 779 115 111 208 76 94 120 64 143 414 237 197 Assessments written off 1, 521 61 166 149 788 73 185 99 Correction of prior year's errors 3, 052 3, 052 Total Expenditures 1965 $I92, 491 4, 680 6, 444 $13, 379 i, 925 5, 119 $I4, 308 $12, 249 $21, 353 $53, 554 $31, 851 $27, 629 1 Unappropriated Surplus (Deficit) December 31, 1965 $498, 664 $20, 465 $82, 124 $97, 545 $26, 840 $110, 08I $18, 809 $37, 876 ($11, 474) $26, 660 $64, 051 $20, 994 4, 693 (See notes to financial statements) This statement is an integral part of report dated May 25 1966 1 1 1 1 -�9- Exhibit 19 Village of Brooklyn Center Special Assessment Funds CONSTRUCTION EXPENDITURES COMPARED TO APPROPRIATIONS Year 1965 C ombined Total T 965 I966 All Funds Fund Fund Original Appropriations as of January 1, 1965 $286, 498 $286, 498 -0- Additions and (Deductions); New projects initiated during 1965 707, 543 707, 543 Appropriations transferred (Note 3) 492, 607) 492, 60? Appropx°yations cancelled 66, 998} 66, 998) Total Appropriations $927, 043 $434, 436 $492, 607 Deduct: Expenditures for construction During years prior to 1965 $233, 58I $233, 58I During 1965 643, 607 643, 607 Expenditure.s related to appropriations transferred (Note 3j 442, 752) $442, 752 Total Expenditures for Construction $877, 188 $434, 436 $442, 752 Unexpended Appropriations for Construction December 31, I965 49, 855 -0- 49, 855 (See notes to financial statements) This statement is an integral part of report dated May 25 1966 -30- Exhibit 20 Village of Brooklyn Center Special Assessment Funds STATEMENT OF LONG TERM DEBT (PRINCIPAL AMOUNT OUTSTANDING) December 31, I965 B ond Redemption Balance Last Year of Total Monies to Unpaid Installment Fund Description of Issue Issue Issue Paying Agent I2-31-65 Due on Coupon Rates on Outstanding Bonds Bond Fund 1 Storm Sewer #1 serial issue 1952 304, 000 208, 000 96, 000 I-I -72 3. 50°jo 5anitary Sewer #1 serial issue 1952 48, 000 34, 000 14, 000 I-1-73 3.20 1953 B serial issue I953 55, 000 52, 000 3, 000 1-1-69 3.30 1955 A 1955 A serial issue 1955 497, 000 325, 000 172, 000 1-1-76 3. 25 1956 AC 1956 A serial issue I956 535, 000 5I0, 000 25, 000 I-1-67 3. 75 I956 C serial issue I956 550, 000 295, 000 255, 000 1-I-7? 3.90 1956 B I956:B serial issue (refunding) 1960 200, 000 200, 000 1-I-66 3.40 1957 AB I957 A serial issue 1957 430, 000 380, 000 50, 000 1-I -67 4. 00 I957 B serial issue 1957 350, 000 320, 000 30, 000 I-1-67 4. 50 I958 A 1958 A serial issue 1958 530, 000 205, 000 325, 000 I-1-79 I75 M@ 4. 00°jo; ?5 M@ 3. 9�%; 75 M@ 3. 60efo;25 M@ 3. 10°Jo 1958 B 1958 B serial issue I958 390, 000 I40, 000 250, 000 1-1-79 90 M@ 3. 60%; 60 M@ 3. 50°Jo; 60 M@ 3. 20°Jo; 60 M@ 3. 00°Jo 1959 AB 1959 A$ serial issue 1960 630, 000 175, 000 455, 000 i-I-$I I85 M@ 4. 50%; 2�U0 M@ 4. 25%; 105 M@ 4. 00°Jo 1960 AB 1960 A serial is sue 1960 768, 000 248, 000 520, 000 1-I -81 90 M@ 3. 00%; 390 M@ 4. 20%; 90 M@ 4. 50°Jo 196o B serial issue 1961 885, 000 200, 000 685, 000 1-I -8Y 315 M@ 4. 20%; 180 M@ 4, 10°fo; 140 M@ 4. 00°fo;100 M@3. 80°Jo 1961 AB 1961 A serial issue I962 595, 000 95, 000 500, 000 1-1-82 150 M@ 3. 75%;120 M@3. 70°�0;120 M@3. 40°Jo; 135 M@ 3. 00°Jo I961 B serial issue 1963 430, 000 70, 000 360, 000 1-I -84 100 M@ 3. 70°jo120 M@ 3. 60%;80 M@ 3. 30°Jo; 95 M@ 2. 80% 1963 Fund 1963 A serial issue I964 636, 000 51, 000 585, 000 1-I-85 391 M@ 3. 20%; 90 M@ 3. 40%; 80 M@ 3. 50°f 75 M@ 3. 60°Jo $7, 833, 000 $3, 508, 000 $4, 325, 000 (See notes to financial statements) This statement is an integral part of report dated May 25, 1966. t -3 I Exhibit 21 t Village of Brooklyn Center Municipal Liquor Fund BALANCE SHEET December 31, 1965 ASSETS LIABILITIES AND SURPLUS Current Assets Current Liabilities t Cash on ha.nd and in depositories 68, 413 Accounts payable 25 969 Temporary investments 26, 509 Accrued salaries and wages 3, 216 Miscellaneous receivables (net) 220 Accrued Public Employees Retirement Association contribution 1, 858 Cash held by paying agent revenue Accrued interest payable on revenue certificates 2, 104 certificate account (Note 4) 15, 104 Accrued insurance payable lI I Merchandise inventory (valued at cost) 89, 363 Due to other funds 2, 200 Prepaid expenses 1, 423 Certificates payable portion due within one year (see below) I3, 000 Total Current Assets $201, 032 Total Current Liabilities 48, 458 Fixed Assets Long Term Liabilities Provision for Revenue certificates payable (Exhibit 24) $99, 000 Depreciation Book Less: Portion due within one year (as above) I3, 000 Cost Amortization Value Fixtures and Equipment Total Long Term Liabilities 86, 000 Lyndale Avenue Store $11, 420 $lI, 211 209 Osseo Road Store 19, 508 1�, I79 9, 329 Total Liabilities $I34, 458 Brookdale Store I0, 872 4, 16I 6, 71 I Surplus (Exhibit 22) Leasehold Improvements Restricted per terms of resolution authorizing Brookdale Store (Note 5) I6, 386 I2, 538 3, 848 the issuance of revenue certificates (Note 4) $I6, 655 $58, 186 $38, 089 Undistributed surplus 70, 016 Total Book Value of Fixed Assets 20, 097 Total Surplus 86, 67I Total Assets $221, 129 Tota1 Liabilities and Surplus $221, 129 (See notes to financial statements) This statement is an integral part of report dated May 25 1966 -32- 1 Exhibit 22 Vi�lage of Brooklyn Center Municbpal Liquor Fund ANALYSIS OF CHANGES IN SURPLUS Year 1965 Surplus, January Y, g965 72, 454 Add: Net income (Exhbbi� 23) I04, 2I? Balance and Additaons $176, 67I Deduct: Transfers to oth.er Funds General Fund 90, 000 Surplus, December 3I, 7965 86, 671 (See r�otes to f�nar�ciaP stat��n�nts� Th�.s statemert �.s an ante x°al part of repor� dated Ma �5 I966 Y i� -33- Exhibit 23 Villa�e of Brooklyn Center Municipal Liquor Fund STATEMENT OF INCOME AND EXPENSE Year 1965 Combined #1 �2 #3 Total Lyndale Ave. Osseo Road Brookdale All Stores Store Store Store Sales $872, I05 $190, 745 $390, 720 $290, 640 Less• Cost of sales 671, 502 147, 899 303, 015 220, 588 Gross Margin on Sales $200, 603 42, 846 87, 705 70, 052 Operating Expenses Requiring Funds Salaries and wages 60, 30$ I8, 739 23, 055 18, 514 Rent (Note 5) 9, 553 9, 553 Utilitie s and heat 4, 3I 5 I, 031 I, 941 1, 343 Insurance 3, 360 1, 089 1, 262 I, 009 Repairs and maintenance 1, 474 238 660 576 Supplies 2, 038 487 860 69I Public employe�s retirement fund 2, 622 966 893 763 Auditing 1, 236 421 406 409 Protection service 720 150 240 330 Telephone 605 225 178 202 t Laundry 569 86 225 258 Inventory variance and adjustments 304 54 137 II3 Mileage 176 59 59 58 Miscellaneous 200 52 55 93 Taxes and licenses 79 26 26 27 Provision for bad checks (net of recoveries) 14I 71 ?0 Breakage 67 5 39 2� Cash (over) and short 95) 73) 5) 17) Total Operating Expenses Requiring Funds 87, 672 23, 555 30, 102 34, 015 112 931 19 291 57 603 36 037 Net Operatin� Income Before Depreciation and Amortization Less: Depreciation and amortization of leasehold improvements 6, 390 77 I, 928 4, 385 Net Operatin� Income $I06, 54I 19, 214 55, 675 3I, 652 Add; Interest on temporary investments and check cashing fees i, 910 Deduct: Interest and paying agent charges on revenue certificates 4, 234) Net Income (Exhibit 22) $104, 217 See notes to financial statements) This statement is an integral part of report dated May 25 1966 -34- I Exhibit 24 Village of Brooklyn Center Municipal Liquor Fund STATEMENT OF LONG TERM DEBT December 31, 1965 Interest Revenue Certificates Principal Revenue Certificates-Interest Coupons Certificate Coupon Outstanding Outstanding Dates of Outstanding Retired Outstanding Numbers Rate 1-I -65 Retired 12-3I -65 Maturity I-1-65 1965 12-31-65 29-4I 4. 00% I3, 000. 00 $13, 000. 00 -0= 1-1-65 2, 363. 75 2, 363. 75 -0- 7-1-65 2, 103. 75 2, I03.75 -0- 42-54 4. 25 13, 000. 00 I3, 000. 00 1-1-66 2, 103. 75 2, I03.75 7-1-66 1, 827.50 I, 827.50 55-67 4. 25 13, 000. 00 13, 000. 00 I-1-6? 1, 827. 50 1, 827. 50 7-1-67 I, 551.25 1, 551. 25 68-80 4. 25 13, 000. 00 I3, 000. 00 I-1-68 1, 551. 25 1, 551. 25 7-1-68 1, 275. 00 I, 275. 00 81-95 4. 25 15, 000. 00 15, 000. QO 1-1-69 I, 275. 00 I, 275. 00 7-1-69 956.25 956.25 96-110 4.25 15, 000.00 15, 000. 00 1-I-70 956.25 956.25 7-I-70 637.50 637.50 111-125 4. 25 15, 000. 00 15, 000. 00 1-1-?1 637. 50 637. 50 7-1-?1 318.75 318.75 I26-140 4.25 15, 000.00 15, 000. 00 1-I-72 318.75 318.75 $I12, 000. 0� $13, OOD. OU 99, 000. U0 $19,?0-3. 75 4, 4fi7.5U $15, 236. 25 General Provisions of Issue A. Obligations are payable salely from net operations of the Municipal Liquor Stores and are in no way a general tax Iiability of the Village. B. All certificates share on a parity basis in total net revenue of all stores. C. All certificates which mature after January I, 1968 are subject to redemption (call) in inverse numerical order on January 1, I965 or any interest payment date thereafter upon payment as follows: I. If redeemed prior to January I, 1968 at par ($I, 000) plus accrued interest, plus premium of $30.00 on each certificate redeemed. 2. If redeemed on or after January 1 I968 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. (See accompanying notes to financial statements) This statement is an integral part of report dated May_ 25 1966 -35- Village of Brooklyn Center Exhibit 25 Public Utilities Fund BALANCE SHEET December 31, 1965 ASSETS AND OTHER DEBiTS TOTAL LIABILITIES AND OTHER CREDITS Plant, Equipment and Construction Funds Long Term Uebt Mains and lines $6, 937, 935 Revenue bonds payable (see Exhibit 31) (Note 6) 975, 000 i Structures 344, 840 Equipment 214, 288 Surplus and Reserves Invested in Fixed Assets Meters 110, 415 From special assessment projects and contractors $7, 274, 466 Land 18, 82I Revenue bonds matured 25, 000 Construction work in progress -(financed through bond issue) Interest accumulated on construction monies Water mains $598. 3I4 invested 5I, 829 Freeway crossings 26, 806 Depreciation provisions represented as investment Water tank site 4, I83 in plant 351, 833 Total Construction in Progress (Note 6) 629, 303 Construction funds (unexpended bond proceeds) Investments $38I, 397 Cash in checking account 4I, I29 Total Surplus and Reserves Invested Total Construction Funds (Note 6) 422, 526 In Fixed Assets 7, 703, I28 Total Plant, Equipment and Construction Funds $8, b78, 128 Total Invested in Plant, Equipment and Construction Funds $8, 678, 128 I Invested and Special Funds Reserves. Investments $398, 40I Depreciation provisions represented as not Deferred assessments receivabie 93, 965 invested :in plant 223, 028 Debt retirement funds (Note 6) Debt serviee reserves (Note 6) 141, 063 Cash with paying agent 44, 766 Customer meter deposits held I15, 564 Cash in checking account 4, 191 Reserve funds held by paying agent for: (Note 6) Investments 135, 22Z Revenue bond principal $25, 000 Accrued interest receivable 1, 650 185, 829 Revenue bond interest coupons 19 766 44 766 5 24, 421 Total Invested and 5pecial Funds 678, 195 Total Reserve Balances Current and Accrued Assets Current and Accrued Liabilities Temporary loans receivable 16, 000 Temporary advance from Construction Account Accounts receivable 48, 15I (Operating Account overdrawn) 26, 236 Accrued water revenue (pumped but not billed) 25, 388 Vouchers payable 33, 482 Materials and supplies 3, 728 Contracts and notes payable 10 689 Frepayments 952 Accrued payroll taxes (PERA) 1, 593 Due from other funds 999 Accrued salaries and wages 1 969 Assessments reeeivable 3, 267 Meter deposit transfers I7 Other deferred charges 388 Due to other funds I3, 393 o al urrent and Accrued Assets 98, 873 Total Current and Accrued Liabilities 87, 379 T t C Balance of Earned Surplus 165, 268 Total Assets and Other Debits 5 196 $9, 455 196 Total Liabilities and Other Credits $9 45 (See notes to financial statements) This statement is an integral part of report dated May 25 I966 -36- Exhib it 2 6 Village of Brooklyn Center Public Utilities Fund STATEMENT OF OPERATIONS AND EARNED SURPLUS Year 1965 Water Sewer Department Department Total Operating Income Service to customers $143 266 $I88 979 $332 245 Service hookup charges 17, 040 1, 754 I8, 794 Interest earned Temporary investments 6, 7?0 6, 770 I3, 540 Service hookups (interest on unpaid or deferred installments} 5, 583 137 5, 720 Penalties 484 4, 804 5, 288 Other 75I 1, 844 2, 595 Gross Revenue $173, 894 $204, 288 $378, I82 Less Operatin� Revenue Deductions Operating expense 57, 899 $I45, 918 $203, 817 Depreciation 46, 262 45, 936 92, 198 Total Operatin� Revenue Deductions $104, 161 $191, 854 $296, OI5 Net Operat�n� Income 6q, 733 1 434 82, 167 Income Deductions Revenue bond interest and agent charges 38, 715 Redemption of debt 25, 000 Net I965 additions to debt retirement reserves 1, 139 Less: Interest earned on debt reserve funds 6, 284) T"otal Income Deductions 58, 570 Net Income Available for Transfer to Earned Surplus 23, 597 Add: Balance of eaxned surplus January 1 I965 14I 671 1 Balance of Earned Surplus December 31, I965 $I65, 268 (See notes to financiai statements) This statement is an integral part of report dated May 25 I966 -37- Village of Brooklyn Center Exhibit 27 Public Utilities Fund WATER DEPARTMENT OPERATING EXPENSES Year 1965 Source of Supply Power 8, 069 Purification supplies 4, 706 Labor 3, 399 Materials 1, 259 Supplies 7I6 Fuel heating 333 Operation and maintenance of equipment Y 79 Repairs to structures 36 Small tools Y Other 95 $18,793 Transmission Labor 5, 830 R e pair s and maintenanc e 40 Materials and supplies I, 740 Tools Y42 Equipment rental 419 8, 17I Administration Salaries and wages $13, 306 Rent and administration (to Village of Brooklyn Center) �4, 560 Provision for Public Employees Retirement Fund 1, 438 Insuranc e I 240 Operation and mai,ntenance of equipment 685 Consulting fees 562 Water charge refunds 560 Fuel equipment 464 Printing I38 Schools and conferences 728 Small tools 63 Supplies 60 Repair s 42 Mileage Y4 I Dues and subscriptions 4 23, 264 �ustomer Accounting and Collection Salaries and wages 5, 354 Postage Y 6yY Printing 453 Operation and maintenance Y67 Supplies 87 Other 5 7, 671- 1 Total Water Department Operating, Expenses $57, 899 (See notes to financial statements) This statement is an inte ral part of re ort dated Ma 25 I 66 g P Y 9 -38- Exh.ibit 28 Village of Brooklyn- Center 1 Public Utilities Fund SEWER DEPARTM�NT OPERATING EXPENSES Year I965 Disposal Source Rent City of Minneapolis $IO2, 60I Rent Village of Crystal 3, 555 $106, I56 Pumpi'ng Power 3, 595 Labor 2, 829 Repairs and maxntenance of lift stations 242 Alarm system I62 Fuel heating I39 Supplie s 49 Materials 39 Equipment rental I5 Operation and maintenance of equipment I3 7, 083 Transmission Labor 3, 873 Materials 2, 597 Equipment rental 625 Tools 4I3 Repairs to mains 205 Supplies 5 7, 7I8 Administration Salaries and wages 9, 356 Rent and administration (to Village of Brooklyn Center) 4, 560 Consulting fees 3, 089 Provision for Public Employees Retirement Fund I, 438 Insurance 841 Operation and maintenance of equipment 685 Fuel equipm ent 464 Sewer charges refunded 96 �quipment rental 58 Small tools 54 I Supplies 41 Printing 3 5 Mileage Y 4 I Repairs 4 Other 3 20,738 Customer"Accounting and Collection Salar° s ae and wa es I I' g 3, 420 Postage 565 1 Printing and supplies I36 Operation and maintenance of equipment 97 Other 5 4, 223 Total Sewer Department Operatin�, Expenses $145, 9I8 (See notes to financial statements) This stat�ment is an in�egral part of report dated May 25 I966 -39- 1 Exhibit 29 Village of Brooklyn Center Public Utilities Fund SUMMARY STATEMENT OF PLANT AND PROPERTY AND PROVISION FOR DEPRECIATION December 3I, I96� Assets Provision for Depreciation Balance Balance Balance Balance Depreciable 1-I -65 Additions Ded'ns 12-3I -65 1-1-65 Additions Ded'ns 12-31-b5 Life (Years) Water Department Mains and lines $2, 198, 329 $207, 459 $2, 405, 788 $106, 259 $21, 984 $I28, 243 100 Structures 344, 840 344, 840 54, 770 l I, 488 66, 258 30 Consumer meters in use 98, 740 11, 675 IIO, 4I5 22, I09 4, 937 27, 046 20 Equipment 142, 930 61, 328 204, 258 34, 70? 7, 853 42, 560 5, I0, 20, 25 Total Water Department $2, 784, 839 $280, 462 $-0- $3, Q65, 301 $217, 845 $46, 262 $-Q- �264, I O? Sewer Department Mains and lines $4, 493, 377 38, 770 ,$4, 532, 147 $259, 957 $44, 934 $304, 89I 100 Equipment 10, 029 1 10, 030 4, 860 1, 003 5, 863 10 Total Sewer.Department $4, 5U3, 406 38, 771 $-0- $4, 542,17? $264, 817 $45, 937 $-0- $310, 754 Total Water and S�wer Departxnents $7, 288, 245 $319, 233 $-0- $7, 607, 478 $482, 662 $92, I99 $-0- $574, 861 (See notes to financial statements) This statement is an integral part of report dated May 25, 1966 i -40- Village of Brooklyn Center Exhibit 30 Public Utilities Fund STATEMENT OF LONG TERM DEBT December 31, 1965 t Interest Principal Interest Coupons Certificate Coupon Outstanding Retired Outstanding Date of Outstanding Retired Outstanding Numbers Rates 1-1-65 1965 12-31-65 Maturity 1-1-65 1965 12-3I -65 I-1-65 19, 293. 75 $I9, 293. 75 -0- 7-1-b5 I9, 293. 75 19, 293. 75 -0- 1-5 3. 75% 25, 000. 00 25, 000. 00 I-1-66 19, 293. 75 19, 293. 75 ?-I -66 I8, 825. 00 I8, 825. 00 6-10 3. 75 25, 000. 00 25, 000. 00 1-1-67 18, 825. 00 18, 825. 00 7-1-67 18, 356. 25 18, 356. 25 11-15 3. 75 25, 000. 00 25, 000. 00 I-1-68 18, 356, 25 I 8, 356. 25 7-1-68 17, 887. 50 17, 887. 50 16-20 3. 75 25, 000. 00 25, 000. 00 I-1-69 17, 887. 50 17, 887. 50 7-I -69 17, 418. 75 17, 418. 75 2I -25 3. 75 25, 000. 00 25, 000. 00 1-1-?0 I7, 418. 75 17, 418. 75 ?-I -70 16, 950. 00 I6, 950. 00 26-31 3. 75 30, 000. 00 30, 000. 00 1-1-7I 16, 950. 00 I6, 950. 00 7-1-?I 16, 387. 50 I6, 387. 50 32-37 3. 75 30, 000. 00 30, 000. 00 1-1-72 16, 387. 50 16, 387. 50 7-1-72 15, 825. 00 15, 825. 00 38-43 3. 75 30, 000. 00 30, 000. "00 1-1-73 I5, 825. 00 15, 825. 00 7-1-73 15, 262. SQ 15, 262. 50 44-49 3. 75 30, 000. 00 3Q, 000. 00 1-1-74 15, 262. 50 I5, 262. 50 7-I -74 14, 700. OQ I4, 700, 00 50-55 3. 75 30, 000. 00 30, 000. 00 1-1-75 I4, 700. 00 14, 700. 00 7-1-75 14, 137. 50 14, 137. 50 56-61 3.,90 30, 000. 00 30, 000. 00 I-I -76 14, I37. 50 14, 137. 50 ?-1-?6 13, 552. 50 13, 552. 50 62-68 3. 90 35, 000. 00 35, 000. 00 1-1-77 13, 552. 50 13, 552, 50 7-1-77 12, 870. 00 12, 870. 00 69-75 3. 90 35, 000. 00 35, 000. 00 I-1-78 I2, 870. 00 12, 870. 00 7-1-78 12, 187. 50 12, 187. 50 76-82 3. 90 35, 000. 00 35, 000. 00 I-I -79 I2, 187. 50 12, I87. 50 7-I-79 I1, 505. 00 I1, 505. 00 83-89 3. 90 35, 000. 00 35, 000. 00 I-1-80 l I, 505. 00 11, 505. 00 7-I -80 I0, 822. 50 10, 822. 50 90-96 3. 90 35, 000. 00 35, 000. 00 1-1-81 10, 822. 50 10, 822. 50 7-1-8I 10, 140. 00 10, 140, 00 97-104 3. 90 40, 000. 00 40, 000. 00 1-1-82 1Q, 140. 00 10, I40. 00 7-I-82 9, 360. 00 9, 360-. 00 105-I 12 3. 90 40, 000. OQ 40, 000. 00 1-1-83 9, 360. 00 9, 360, 00 7-1-83 8, 580. 00 8, 580. 00 -4I j Village of Brooklyn Center Exhibit 30 Public Utilities Fund Cont'd STATEMENT OF LONG TERM DEBT December 31, I965 Interest Principal Interest Coupons Certificate Coupon Outstanding Retired Outstanding Date of Outstanding Retired Outstanding Numbers Rates 1-1-65 I965 I2-3I -65 Maturity 1-I 1965 I2-3.1-65 113 -120 3. 90% 40, 000. 00 40, 000. 00 I-1-84 8, 580. 00 8, 580. 00 7-I-84 7, 800. 00 7, 800. 00 12I -I 28 3. 90 40, 000. 00 40, 000. 00 1-1-85 7, 8Q0. 00 7, 800. 00 7-I -85 7, 020. 00 7, 020. 00 129-137 3. 90 45, 000. 00 45, 000. 00 1-I -86 7, Q20. 00 020. 00 7-I-86 6, 142.50 6, 142.50 138-146 3. 90 45, 000. 00 45, 000. 00 I-1-8? 6, I42. 50 6, I42. 50 7-I -87 5, 265. 00 5, 265. 00 I 47-155 3. 90 45, 000. 00 45, 000. 00 1-I -88 5, 265. 00 5, 265. 00 ?-1-88 4, 387. 50 4, 387. 50 156-164 3, 90 45, 000, 00 45, 000, 00 1-1-89 4, 387. 50 4, 38?, 50 7-1-89 3, 510.00 3, 5I0. 00 65-173 3. 90 45, 000. Q0 45, 000, 00 1-I -90 3, 5I0. 00 3, 5I0. 00 7-1-90 2, 632. 50 2, 632. 50 174-182 3. 90 45, 000. 00 45, 000. 00 1-1-91 2, 632. 50 2, 632. 50 7-1-91 I, 755.00 1, 755.00 183-191 3. 90 45, 000. 00 45, 000, 00 1-1-92 I, 755. 00 1, 755. 00 7-1-92 877.50 877. 50 192-200 3. 90 45, 000. 00 45, 000. 00 1-1-93 8??. 50 877. 50 $1,�000, 000. 00 -0- $I, 000, 000. 00 $646, 196. 25 $38, 587. 50 _$607, 608�� j General provisions of issue: 1 A. Obligations are payable solely from net operations of the Public Utilities and are in no way a general tax liability of the Village. 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, I977, prem�um of 3%. 2. If redeemed January I, 1977, or thereafter prior to Janua.ry 1, 198I, premium of 1-I/2%. 3. If redeemed January 1, I981 or thereafter, no premium. C. The resolution authorizing and direeting the i.ssuance of these bonds contains certain covenants and restrictions enacted for the general purpose of protecting the bond holders. 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 6 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 May 25 1966 -42- 1 Exhibit 3I Villa�e of Brooklyn Center Agency Funds COMBINED BALANCE SHEET December 31, 1965 Agent For Fire Public Department Employees Combined Relief Reti.rement 1 Total A s sociation A s sociation ASSETS 1 Cash on hand and in de ositories 16 653 I p 4 6, 649 Temporax°y investments 17, 422 17, 422 1 Due from other funds 33 33 PERA contributions due from enterprise £unds 3, 452 3, 452 Cash with County Treasurer's office 223 72 151 Taxes receivable: Levied in 1964 collectible in 1965 g 170 381 789 Prior years tax levies 695 234 46I Total Assets $39, 648 $69Y $38, 957 I LIABIL�TYES AND FUND BALANCES Due to other funds 20 20 Fund balances (See Exhibit 32) 39, 628 671 $38, 957 Total Liabilities and Fund Balances $39 648 $69Y $38 957 (See notes to financial statementsj 1 This statement is an integral part of report dated May 25 1966 I i -43- Exhibit 32 Village of Brooklyn Center Agency Funds COMBINED STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCES Year 1965 Fire Public Department Employees Combined Relief Retirement Totai Associatio� Association Fund Balance January 1, 1965 $36, 958 493 $36, 465 Add: Revenue Real estate and personal property taxes 40, 009 13, 032 26, 977 inst�.x°arnce premium rebate 4, 364 4, 364 PERA contrabutions from enterprase funds Liquox° stores 2, 622 2, 622 Publ�c ut�lity fund 2, 876 2, 876 1 Earrnings on �exnporary investments 341 34I Balance and Add�.tions $87, I70 $I7, 889 $69, 281 Deduct: Experaditu.a°es Paymen�s to prsnc�pal of agency 47, 429� I7, I63) 30 266) Wrate off tax levy baiances 113j 55) 58} Fund Balance December 31, 1965 $39, 628 671 $38, 957 (See notes to fanancial statements) This s�atemerat is an integral part of xeport dated May 25 I966 -44- Exhibit 33 Village of Brooklyn Center Investment Trust Fund BALANCE SHEET December 31, 1965 ASSETS Cash in depositories 95, 297 Accrued interest receivable I2, I35 Investments: Face Premium or Cost Value (Discount) Basis U. S. government securities 7I5, 000 $(4, 060j $7I0, 940 Brooklyn Center securities 60, 000 5 I 60, 05I 1 Construction loan to Library Fund I75, 500 Y75, 500 Construction loan to I965 Fund 550, 600 550, 600 $1, 501, 100 $(4, 009j Total Investments 1, 497, 091 Total Assets $I, 604, 523 LIABILITIES I?ue contractors (Performance deposits) I7, 508 Unclaimed cash (Law enforcement activitiesj 17 Due participating funds: Special assessment funds $999, 1�3 Public utilities fund 398, 40I Municipal liquor fund 26, 509 Public employees retirement association fund 17, 422 Park fund I7, 342 General fund 107, 340 Poorfund 9,Y74 Park bond redemption �und 1Y, 569 Certificate of indebtedness fund I38 Total Due to Participating Funds (See Exhibit 35) I, 586 998 Total Liabilities $1, 604, 523 (See notes to financial statements) This statement is an integral part of report dated May 25 1966 1 -45- Exhibit 34 Village of Brooklyn Center Investment Trust Fund STATEMENT OF EARNINGS Year I965 Interest Income United States government securities $36, I52 Construction loans I0, 484 Certificates of deposit I3, 370 Brooklyn Center securities 2, 264 Total Interest Income $62, 270 Expenses Audit 357 Net Income Distributed to Participating Funds $6I, 9Y3 Explanation The Investment Trust Fund was established during I956 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 jrears. Rate of Net Year Return Income 1965 3.80% 61,9I3 Y 964 3. 64 48, 367 I963 3. 18 45, 056 I962 3.I7 6Y,:Y29 7 96I 3. 05 55 939 1960 3. 62 57, 908 1959 3, 27 33, 494 I958 2. 62 I4, 835 7957 3. 12 9, 938 1 1956 2. 77 I, 832 Total Distributed Earnings Since Inception of the Fund $390, 4I I (See notes to financial statements This statement is an integral part of report dated May 25, I966 -46- Exhibit 35 Village of Brooklyn Center Investment Trust Fund CHANGES IN PARTICIPATING FUND BALANCES Year 1965 Balance Net Fund Income of Balance January 1, Additions I965 December 31, 1965 (Withdrawals) Di.stributed I965 Special Assessment Funds' I958 B I72, 654 12, 600 7, 275 192, 529 I955 A I26, 536 2, 400) 5, 289 129, 425 1956 AC 126, 534 6, 650 6, 2Y6 139, 400 y957 AB 98, 447 16, 400) 4, 219 86, 266 1958 A 67, 087 21, 900 3, 590 92, 577 �959 AB 50, 976 43, 000 3, 4I4 97, 390 Bond Fund No, 1 48, 953 5, 100 2, 335 56, 388 1963 A 34, 740 9, 450 1, 702 45, 892 y96I AB 23, 764 85, 300 3, 741 l I2, 805 7956 B 20, 979 20, 800} 1, 051 1, 230 1960 AB 1, 009 30, 050 2, 389 33, 448 Y965 A -0- 11, 700 53 I1, 753 Total Special Assessment Funds 771, 679 $I86, 150 $4I, 274 999 I�3 Public Utilities Fund 280, 861 I04, 000 I3, 540 398, 40I Municipal Liquor Fund 30 520' 5, 000) 989 26, 509 Public Employees Retirement A s sociation Fund 19, 681 2, 600) 341 I7, 422 Park Fund -0- I7, 000 342 I7, 342 General Fund I7, 941 �5, 000 4, 399 I07, 340 Poor Fund 7, 343 y, 500 331 9, I74 Park Bond Redemption Fund 407 10, 600 562 11 569 Certificate of Indebtedness Fund I68 I66} 136 I38 Total A11 Funds $1, I28, 600 $396, 484 $61, 914 $1, 586 998 (See notes to financial statements) This statement is an integral part of report dated May 25 1966 -47- Village of Brooklyn Center Exhibit 36 SUMMARY STATEMENT OF GENERAL FIXED ASSETS Decernber 3I, 1965 January 1, Year 1965 Balance Investment 1965 Acquisitions Disposals Dec. 3I, I965 Land and land improvements 41, 648 3, 292 44, 940 Building Osseo Road and 63rd Avenue 101, 614 I01, 614 Building 65th and Lyndale 85, 034 85, 034 Building Municipal Hall 54, 706 2,_34b 57, 052 Buildings Other 36, 315 1, 978 38, 293 Park properties (includes buildings) Northport 106, 238 201 106, 439 Grandview 84, 780 568 85, 348 Willow Lane 61, I45 14, 663 75, 808 Bellvue 74, 840 215 75, 055 Garden City 37, 475 37, 475 Happy Hollow 32, 7QI 32, 70I Kylawn 58, 686 457 59, 143 Evergreen 24, 098 I9, a9? 43, I95 Orchard 1 b, 020 209 I 6, 229 South Creek 5, 655 5, 655 Wangstad 361 361 Palmer Lake Terrace 3, 745 146 3, 891 Brooklane 453 453 Lions Club Park I, 375 1, 375 LTndistributed costs 35, ?34 7, 23�i 42, 971 Equipment Street and highway 220, 982 35, 429 $�28, 872 227, 539 Fire protection 89, 336 1, 326 90 662 Recreation 30, 387 1, 202 3I, 589 Civil defense 13, 7I2 2, 833 16, 545 Police 17, 223 7, 807 4, 807 20, 223 Caurts 127 I27 General equipment b2, 267 6, 654 1, 335 67, 586 Furniture and fixtures 39, 581 3, I78 42, 759 Storm sewer and street projects 3, 368, 02? 406, 290 3, 774, 3I7 Totals $4, 704, 265 $5I5, I28 $35, 014 $5, 184, 379 Source of Investment General indebtedness 576, OOI 35,437 6I1, 438 Ad valorem levies 447, 259 73, 402 $35, 014 485, 647 Liquor store revenues and certificates 304, 571 304, 57I Contributions received 8, 406 8, 406 Special assessment projects (storm sewers and streets) Owners, contractors and Village share 3, 190, 848 406, 289 3, 597, 13? Hennepin County 177, Z80 177, 180 Tatals $4, 704, 265 $5I5, 128 $35, 014. $5, 184, 379 (See notes to financial statements) This statement is an integral part of report dated May 25 I966 -48- Exhibit 37 Village of Brooklyn Center SUMMARY 5TATEMENT OF GENERAL LONG TERM DEBT AND INTEREST December 3I, I965 Amount Available And to be Provided Amount available in debt service funds (See Exhibi.t 15): Park bond redemption fund 13, 47.4 Certificate of indebtedness redemption fund I, 63I State ioan fund 753 On deposat with paying agents 38, 9I8 Total Amount Available 54, 776 Amount to be provided in future periods: For interest $101, 762 For principal 493, 498 Totai Amount to b� Provided 595� 260 Total Amount Available And to be Provided $650, 036 General Debt And In�erest to be Paid in Future Peraods (Exhibit 38) General debt (principal portion): Park acquisation bonds $3I5, 000 Certificates of indebtedness 72, 000 State loan certificates 5, 500 Assessments on Vi.11age properties (Note 7) 148, 856 Total General Debt (Principal Portion) $541 356 Interest pa.yable in future periods: Bonds and certificates I08, 680 Tota1 General Debt And I�.terest �o be Paid in Future Periods 650 036 (See notes to financial statements) This statement is an in�egral part of report dated May 25 1966 -49- Village of Brooklyn Center Exhibit 38 SCHEDULE OF GENERAL LONG TERM DEBT AND IlVTEREST BY MATURITIES December 31, 1965 General Debt Principal Portion Interest Payable Payment Certificates Certificates Due T'otal Park of State Loan Assessments Payable Total Park of State Loan During Principal Bonds Indebtedness Certificates General Parks Interest Bonds Indebtedness Certificates 1966 43, 603. 88 20, 000. 00 12, 000. 00 I, 300. 00 3, 292. 00 7, OI I. 88 15, 088. 9I I2, 187. 50 2, 763. 9I 137. 50 I967 51, 203. 89 20, 000. 00 19, 500. 00 1, 400. 00 3, 292. 00 7, 011. 89 I3, 425. 51 11, 470. 00 1, 850. 51 I05. 00 1968 52, 588. 00 20, 000.-00 19, 000. 00 1, 400. 00 3, 292. 00 8, 896. 00 11, 944. 13 10, 730. 00 I, 144. 13 70. 00 I969 41, 091. 59 20, 000, 00 500, 00 1, 400, 00 3, 295. 59 8, 89b. 00 I0, 665. 50 9, 973. 75 656.75 35. 00 1970 43, 687. 12 20, 000. 00 7, 500. 00 7, 291. 12 8, 896, 00 9, 573. 00 9, 193. 75 379. 25 1971 43, 852. 09 20, 000. 00 6, 500. 00 7, 291. 12 I0, 060. 97 8, 516. 50 8, 396. 25 120. 25 I972 4I, 206. 19 20, 000. 00 7, 29I. 12 I3, 915. 07 7, 598. 75 7, 598. 75 1973 36, 360. 78 20, 000. 00 7, 291. I2 9, 069. 66 6, 796. 25 6, 796. 25 1974 29, 865. 31 20, OOU. 00 7, 291.12 2, 574. 19 5, 988. 75 5� 988. ?5 1975 37, 651. 50 20, 000, 00 7, 29I. I2 10, 360. 38 5, 175. 00 5, 175. 00 1976 25, 245. 78 20, 000. 00 5, 245.78 4, 355. 00 4, 355. 00 1977 20, 000. 00 20, 000. 00 3, 535. 00 3, 535. 00 1978 20, 000. 00 20, 000. 00 2, ?15. 00 2, 715. 00 1979 20, 000. 00 20, 000. 00 $95. 00 i, 895. 00 1980 20, 000. 00 20, 000. 00 1, 075. 00 1, 075. 00 198I I5, 000. 00 15, 000. 00 332. 50 332. 50 Totals $54I, 356. I3 $315, 000. 00 72, 000. 00 5, 500. 00 $62, I64. 09 $86, 692. 04 $I08, 679. 80 $101, 4I7. 50 6, 914. 80 347. 50 See notes to financial statements) This statement is an integral part of report dated M:�y 25 1966 I -50- Village of Brooklyn Center NOTES TO FINANCIAL 5TATEMENTS Year 1965 Note 1: The "Combined Balance Sheet All Funds and Grou s- P (Condensed Form) Exhibit Y" is presented as an information statemen� only. The reader is cautioned that the figures as shown under the "Combined Total" column are a combining of unlike purpose groups (funds) and cannot be construed as indicative of the over-all financial position of the Village. 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 A s s es sm ent Funds The financing for Special Assessment Fund 1965 was com- pleted during the early part of 1966 and special assessment bonds in the face amount of $345, 000 (dated 1/Y /1966} were issued and s old. Note 3; Special Assessment Funds During 1965, appropriations and related appropriation expenditures for certain projects were transferred from the 1965 Fund to the I966 Fund. The financing for these projects arranged thrt�ugh the 1966 Fund and the transfer was necessary so that the activities of project construction, financing and assessment of costs to property owners are accounted for within the same fund entity. Note 4: 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, 1965 cash in the amorunt of $I5, Y04 (representing interest and principal falling due on January 1, 1966) had been transferred to the paying agent. P�,ragraph 5d requires a restriction on the availability of surplus for transfer which is equal to t�e next ensuing year's principal and interest requirements. As of December 31, 1965 restricted surplus totalled $16, 655. ($13, 000 principal due January 1, 1967 and interest for the year 1966 in the amount of $3, 655). -51- i Village of Brooklyn Center NOTES TO FINANCIAL STAT-EMENTS Year I965 Note 5: Municipal Liquor Fund The Lyndale Avenue store (Store #1) and �he Osseo road store (Store #2) are located on Village owned properties. Store #3 is loca�ed in tl�.e Brookdale Shopping Center and the premises are occupaed pursuant to terms of a five year lease which expires on February 28, 1967. The rental for the store and warehouse facila.�ies is fixed at $667 �aer month. The rental for parking and mall faciS.ities is based �.pmn a proportionate share of the �nain�enance and uplseep expendatures made by the landlord and 'as adjustable yearly. Note 6: Publa.c U�a&i�ies Fund Publac Utilities �ewenue bonds were �s sued du�ing I963 for the puxpose of fi.nancing an add'ation to tl�e wa�er works system. These bonds, t�gether with related i�i�e�est and service charges are payable solely fx°om the Public U�t3fli�aes Fund and are not considered a gen.eral obfl�.�ation of the Vi�9,ageo The resolution authorizing and darect�ng �he issuance of these bonds defines the method of accounting for �he u�i.baties fixnd and imposes certain covenan�s and restrictions which� ser�re 4he purpose of protecting creditors' in�erests, As required by paragrap�z IOe of the �.ssu.ang resolution, an analysis of each. account balance appears beLc�we Cons� ruction Account Proceeds of bond sales $I, 000, 000 Earnings �arovaded by temporary investmen� of construction monies 51, 82q Corgstruc�i.on expenditures paid 629, 303) Account Balance 422, 526 Revenue Bond Account Cash on hand with paying agent to meet ma�ured coupons and principa� and coupons maturing I-I -66 44, 766 A c cumulated amounts s et aside to meet I966 requi.rements for interest and principal Cash in bank 4, I9I Certafica�es of deposit and accrued interest 61, �72 66 063 Accou�t Balance I10, 829 Reserve Account Face value of government securities 75, 000 -52- Village of Brooklyn Center NOTES TO FINANCIAL STATEMENTS Year 1965 Note 6: Public Utilities Fund (Cont'd) A summary which reconciles restricted assets with restricted surplus and also compares xestricted surplus with restriction requirements as set forth by the resolution authorizing the sale of revenue bonds is presented below: Revenue Constructaon Bond Reserve Account Account Account Assets restricted I2-31-65 $422, 526 $IIO, 829 $75, 000 Less; I. Liabilities payable from restricted funds 44, 766) 2, Monies derived from borrowing (bond issues) 370, 697 Restricted Surplus I2-31-65 5I, 829 66, 063 $75, 000 Required per Resolution 5I, 829 63, I19 $75, 000 Note 7o Summary Statement of General Long Term I?ebt and Interest Special assessments which relate to �mprovements benefiting Village owned properti.es total $I48, 856 as of December 31 I965 The payment for these unprovements (with no interest charge) has been scheduled over a period'extendang through 1976. These assessments are obligations of the park bo�,rd fund and the general fund and payment is planned under normal budget procedures, whereby the needed monies will be appropriated during the years as each installment becomes due. I 'I' Note 8, James H. Johnston attorne for h 'll. y t e Va age, has advised that as of May 25, I966 there were no contingent liabilities or pending lawsuits in whYCh the Village was involved, which would be I material to the financial representations contained on the fanancial statements. These notes are an integral part of report dated May 25 1966 -53-