HomeMy WebLinkAboutVillage Audit Report-1963 Village of Brooklyn Center
AUDIT REPORT
For the Year Ended December 31 1963
TABLE OF CONTENTS
t Exhibit Page
Number Number
Opinion 1 2
9
General Comments 3 _g
Villa e Officials
g 9
t FINANCIAL STATEMENTS
Combined Balance Sheet A11 Funds and Groups
(Condensed Form) December 31, 1963 1 10
General Fund Statements
Balance Sheet December 31, 1963 2 11
Analysis of Changes in Unappropriated Surplus
Year I963 3 12
Statement of Revenue Estimated and Actual
Year 1963 4 13 14
Statement of Expenditures, Appropriations and
Encumbrances Year 1963 5 15
S Statement of Expenditures and Encumbrances
Classified as to Activity, Character and
Object Year 1963 6 16
Special Revenue Fund Stat�ments
Combined Balance Sheet, December 31, 1963 7 I7
Combin.ed Analysis of Changes in Unappropriated
Surplus Year 1963 8 1 g
Village of Brooklyn Center
A UDIT REPORT
For the Year Ended December 31, 1963
TABLE OF CON`TENTS
Exh. No. Page No.
Special Revenue Fund Statements {Cont'd)
Park Board Fund
Statement of Revenue Estimated and Actual
Year 1963 9 I9
Statement of Expenditure, Appropriations and
Encumbrances Year 1963 10 20
Statement of Expenditures and Encumbrances
Classified as to Activity, Character and
Object Year 1963 I1 21
Poor Fund
Sta�ement of Revenue and Expenditures
Year 1963 12 22
Debt Service Fund Statements
Combined Balance Sheet December 3I, 1963 13 23
Combined Statement of Revenue, Expenditures and
Surplus Year I963 14 24
Special Assessment Funds Statements
Combined Balance Sheet December 31, 1963 15 25
Combined Statement of Revenue, Expenditures and
Unappropriated Surplus for Debt Retirement
Year 1963 16 26
Statement of Construction Expenditures
Compared to Appropriations Year 1963 I7 27
Statement of Long Term Debt (Principal Amount)
December 3I 1963 I g 2g
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Village of Brooklyn Center
AUDIT REPORT
For the Year Ended December 31, 1963
TABLE OF CONT�NTS
Exh. No. Page No.
Public Service and Enterprise Funds
Municipal Liquor Fund
Balance Sheet, �ecember 3I, 1963 19 29
Analysis of Changes in Surplus
Year 1963 20 30
Statement of Income and Expense
Year 1963 21 31
Statement of i�ong Term Debt
December 31, 1963 22 32
Public Uti�ities F°und
Balance Sheet, December 31, 1963 23 33
Statement of Income and Earned Sur Ius
Year 1963 24 34
Water Department Operating Expenses
Year i963 2� 35
Sewer Department Operating Expenses
Year 1963 26 36
Summax°y Statement of Plant and Property
And Provisions for Depreciation
December 31, 1963 27 37
Summary of Source of Funds Invested
In Plant and Property
December 31 1963 28 38
Statement of Long Term Debt
December 31 1963 29 3g, 40
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Village of Brooklyn Center
AUDIT REPORT
Fur the Year Ended December 31, 1963
TABLE OF CONTENTS
Exh. Noo Page No,
A gency Funds
Comqined Balance Sheet December 31, 1963 30 41
Combined Statement of Reven.ue, Expenditures
And Fund Balances Year 1963 31 42
Investment Trust Fund (A fund to accomodate the investment
of temporary cash surpluses)
Balance Sheet December 31, I 963 32 43
Statement of Earnings Year 1963 33 44
Changes in Participating Fund Balances
Year 1963 34 45
General Fixed Assets
1 Summary Statement of General Fixed Assets
December 3I a 1963 35 46
General Long Term Debt and Interest
Summary Statement of General Long Term Debt
And Interest Decexnber 31 y 1963 36 47
1 Schedule of General Long Term Debt and Interest
By Maturrtiies December 31, 1963 37 48
Notes to Financial Statements 49 55
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1
MOEN PENTTILA
CERTIFIED PUBL�C ACCOUNTANTS
1210 GLENWOOD AVENUE
MINNEAPOLIS 5. MINNESOTA
DIAL 977-3180
To the Village Council
Village of Brooklyn Center
Brooklyn Center, Minnesota
Gentlem ena
We have exa.mined the financial statements of the various funds of
the Village of Brooklyn Center as of Decembex° 3I 1963 and for the
calendar year then endeds 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 px°esumes that the auditor is expected to render
an opinion (subject to such qualifications as may seem necessaryj
I concerning all of the transactions and records even though he has
not examined all of them in detailo
Scope of Exarrflination
Our exami.nation covered all financial transactions and funds
of the Village as included in the records maintained by the
Department of Finance.
I
Village Council
Brooklyn Center
In our opinion, the accompanying balance sheets and related
statements of revenue, expenditures and surplus, together with the
notes appended thereto, present fairly the financial position of the
various funds of the �Tillage of Brooklyn Center on December 3I 1963
and the results of their operation for the year tlzen ended, in conformity
1 with generally accepted governmental accountin px°inciples, a lied or�
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a basis consistent v�rith that of the previous yeax°.
Respectfull bmitted,
�,ovmJ ..eti�
Oiva Penttila
1 Certified Publac Accountant
Field work completed May 5 1964
Report signed May 21 1964
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Village of Brooklyn Center
Audit Year 1963
GENERAL COMMENTS
Or ga.nization
The Village of Brooklyn Center was incorporated as a village on
February 14, 191I, pursuant to Minnesota Statutes (MSA Chapter 412}e
The Village is governed by an elected Counci.l consisting of a
mayor, a clerk and thx°ee trustees. Continuity of government is assured
through a system of staggered terms of office for a11 elected officialse
General policies of the Village are formulated by the Council with
the assistance of various administrative and advisory commissions and
boards. The a£fairs of the Village are directed by a village administrator
who is an executive officer appointed by the Council.
The judicial processes of government are administered by an
appointed municipal 'ud e throu h a munici al court s stem or anized
J g g P Y g
under the Muni.cipal Court Act, Minnesota Statutes �Chapter 488).
The assessoros and treasurer's functians of government ax°e carried
out respectively by a Village Assessor and V�llage Treasurer both of whom
are elected officials
General Operations
The Villa e in addition h
g, to t e usual activ�.ties of general government
I t public safety and welfare, highways and recreation opc:rates three off sale
liquor stores and a sanitary sewer and water utility. Liquor store revenues
(in excess of operating capital needs) have been used to acquire general
I� village assets and to partially finance Village operating budgets. The net
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Village of Brooklyn Center
Audit Year 1963
GENERAL COMlvlENTS
General Operations, Cont' d
revenues of the Public Utility Fund (water and sanitary sewer service) are
retained within the fund and employed for water and sewer utility purposes.
1 Financial Control
Control over spending for governmental activities is exercised by the
Council through the use of budgetax°y procedures which are briefly described
belowo
A preliminary budget px°oposal for the ensuing year's operations is
prepared jointly by the Department of Finance and the Village Administrator.
This proposal is then reviewed, evaluated and amended by the Council.
After all differences have been resolved through this grocess the fox°mal
"budget document" for the year is evolved. The budget document is adopted by
resolution and attendant actions are also taken to cex°tify the tax levies needed to
finance the plan.
The budget is then entered on the records of the Villa e and becomes an
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integral part of the budgetary system. The Council retains exclusive authority
over alI budget matters and changes are permitted only by specific Council
approval. Financial re ox°ts com arin actual ex°formance with th b
P P g P e udget ar e
prepared periodically during the year which enable the Council to check on the
current financial status of the Village and measure the effectiveness of budgetary
controls.
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Village of Brooklyn Center
Audit Year 1963
GENERAL COMMENTS
Financial Control Cont'd
Governmental budget procedures are not used in connection with
liquor store and public utilities operations because these operations are
primari.ly of a commercial nab.zre. However, for control purposes, the
labor costs applicable to these enterprises ax°e included in the Village
budgetary system
A summary of the budget document for the calendar year 1963 is
shown below;
Proposed Ex enditures Public Service Enter rises Excluded
P f p
Village operations (General Fund) $6$2 366
Park general fund 73 a 139
Poor relief 20, 000
Firemen's Relief Association lI, 000
Debt servic� 51 235
Public Employees Retirement Assoczation 23 650
County park system �remitted direct and not
accounted for by the Village) 4, 385
Total Proposed Expenditures $865, 775
Proposed Method of Financing
Taxation (see below) $561 445
From state and federal agencies (share of
taxes and aid) 92, 000
Local xevenuesv
Liquor fund transfers 80, 000
Permits, licenses and fines 65, 000
Services to special assessment funds 50, 000
5ervi.ces to public utili.ties fund 9a 000
Recreatiori receipts 6, 850
Rental of park propex°ties I, 480
Total Proposed Financing $865, 775
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Village of Brooklyn Center
Audit Year 1963
i GENERAL COMMENTS
Financial Control, Cont'd
Tax Levy (Certified 1962 Collectible 1963)
Mi ll
Rate Amount
I Village operations 34. 61 $387, 501
Park general fund 5. 69 63, 773
Poor relief 1. 79 20, 044
Firemen's Relief Association .99 11, 086
Debt service:
Certificates of indebtedness 1. 32 14, 781
Park bond redernption 3, I4 35, I61
State loan repayment 06 672
Public Employees Retirement Association 2. 12 23, 739
County park system (remitted direct) 40 4, 479
Total Levy 50. I2 $561, 236
Taxatxon as proposed by budget 561, 445
Deficiency caused by Count ad°ustment of mill rate fracti.ons
Y J 209)
Assessed Valuation
1962 I963
Real estate $8, 567, 267 $9, 922, 254
Personal property I, 130, 847 1, 275, 5I8
Total Assessed Valuation $9 698 lI4 $11, 197, 772
Actual results of operations and a comparison of these results to budget
estimates for the year are set forth by applicable funds within the financial
statement section of this report.
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Village of Brooklyn Center
Audit Year 1963
GENERA� COMMENTS
Ac countin�
The accounting for all operations and activities of the Village is
divided into various purpose groups or funds as required by statute and/or
dictated by accounting principles. Except for minor variances all funds are
maintained on an accrual basis in conforma,nce with generally accepted
accounting principles as set forth by the'National Committee on Governmental
A c counting.
The aecounts of the Village are classified in conformance with the
classifications prescribed by the State Public Exami.ner's office. (Pursuant
to Minnesota Statutes Section 215. 10). The accounts of the Public Utilities
Fund are classified in accordance with the recommendations of the "Manual of
Water Works Accounting" prepared under the auspices of the American Water
Works Association and this classification is permissible under the examiner's
order establishing account classifications for municipalities.
A performance cost accounting system is integrated within the regular
system of accounting for Village activitiese This system accumulates cost
data as a natural by-product of the general accounting system and provides
i essential i.nformation concerning particular projects and acti.v�ties carried out
by the Vil].age.
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Village of Brooklyn Center
Audit Year 1963
GENERAL COMMENTS
Internal Control
The usual controls, that of requiring the deposit of daily receipts intact,
requiring more than one si natux°� on expenditures b check, and xe uirin the
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substantiation of recei.pts and disbursements by registex° tapes, receipt copies,
purchase orders, receiving reports and invoices where applicable are a regular
part of the established methods of handling day to day transactions. The necessary
separation of activities from record keeping e and from the actual custodianship
of funds is also carefully maintained. In general the Village mai.ntains a good
system of internal contx°ol and internal audit.
Additional Reports Submitted
The terms of our engagement provide for an audit of the records of the
"Brooklyn Center Fi.re Department Relief Association" an organization which
is separate and distinct from the Village of Brooklyn Center. A report
concerning the activities of this entity has been directed to the association under
separate cover.
A separate report covering the examination of the records and accounts
of the Village has also been px°epared and directed to the Council. This report
contains various observations of the auditor relating to matters of financial nature
but it is not an audit reporte It is prepared for the purpose of asszsting the governang
body of the Village in the administration of Village affairs and contains nothing which
is materially relevant to this audit report.
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Village of Bx°ooklyn Center
LISTING OF VILLAGE OFFICIALS
December 31, 1963
Term of Office Term Expires
Village Council (Elected)
Mayor Gordon Erickson Two years I2-3I -65
Village Clerk Henry A. Dorf Two years 12-31 -64
Trustee Howard W. Heck Three years 12-3I -63
Trustee John W. Leary Three years 12-31-64
Trustee Phil Cohen Three years 12-3I -65
Other Elected Officials
Village Treasurer Theodore L. Willard Two years I2-31 -63
Village Assessor John Nordberg Two years I2-31 -64
Officials Not Elected
Village Administrator A. J. Lee
Administrative Assistant Allen S. Li.ndman
Department heads:
Finance R. J. Bullock
Engineering Donald G. Poss
Police Thomas G. O'hehir
Fire Carl Anderson
Protective Inspection Donald Stark
Civil Defense Don LeTourneau
Public Utilities Frank Smith9 Jr,
Streets and Highways Henry Davis
Liquor Stores Truman Nelson
Parks and Recreation Eugene Hagel
Municipal Judge James H. Johnston
Health Officer R, I. Shragg, M. D.
Fir e Mar shall Irvin Miller
Park Board
Paul Bullen, Chairman
Francis Irvin
Dallas Lawrence
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Note 1
Explanation Combined
Total
Assets and Resources
Cash on hand and in depositories 449: 859
Temporary investments 1,903, 288
Accounts receivable 67, 814
Accrued revenue 42, 012
Due from other funds 53, 974
Cash held by County Treasurer's office 20, 975
Taxes receivable 4net) 14, 446
Special assessment fund receivables 4, 215, 781
Cash held by paying agents for debt and interest 607, 861
Inventories and supplies 103, 092
Securities held for investment 990, 487
Prepaid expenses 2, 400
Fixed assets (net of depreciation where applicable) 11, 290, 172
Unassessed construction 298, 828
Amount available general debt and interest 13, 339
Amount to be provided general debt and interest 655, 129
Totals $20, 729, 457
Liabilitie s
Vouchers and accounts payable 86, 796
Contracts payable 190, I48
Assessments payable 142, 5I2
Accrued expenses I44, 030
Due to other funds 53, 974
Construction loans payable 355, 000
Bonds and interest coupons not redeemed from paying agents 8, 462
Customer and contractor deposits 1 OI, ?83
Bonds and certificates payable 6, 521, 100
Due funds participating in investment trust 1, 024, 249
Interest payable in future years (general debt) I36 696
Total Liabilities 8, 764, 750
Surplus, Reserves and Fund Balances j
Surplus and surplus reserves set aside 741 964
Contributed surplus 6, 758, 200
Investments in fixed assets (general) 4, 384, 063
Unexpended appropriations, authorizations and balances 80, 480
Total Surplus, Reserves and Fund Balances $11, 964, 707
Totals $20, 729, 457
Villa e of Brookl n Center
g y Exhibit 1
COMBINED BALANCE SHEET-ALL FUNDS AND GROUPS �CONDENSED FORMj
December 31 1963
Special Debt Special Public General General Debt
General Revenue Service Assessment Liquor Utilities Agency Investment Fixed Assets and
Fund Funds Funds Funds Fund Fund Funds Trust Fund Group Interest Group
$142, 733 36, 598 9, 695 131, 272 50, 602 33, 728 10, 805 34, 426
15, 409 5, 144 636 745, 084 46, 432 1, 073, 004 17, 579
6, 665 199 I4, 434 257 46, 259
32, 74I 3, 471 5 800
30, 294 16 23, 594 50 20
3, 447 190 1, 507 15, ?41 90
9, 922 1, 988 I, 494 59 983
4, 215, 781
531, 906 16, 261 I9, 294 40, 400
10, 924 88, 103 4, 065
990, 487
1, 402 998
1 6, 906, 109 $4, 384, 063
271, 460 27, 368
13, 339
655, 129 I
$219, 394 44, 119 13, 348 $5, 949, 331 $230, 425 $8, l I 6, 248 32, 948 $1, 030, 713 $4, 384, 063 $?08, 868
5, 816 1, 639 28, 934 22, 564 27, 843
148, 588 4I, 560
I42, 512
9, 348 990 106, 262 5, 226 22, 204
462 14, 144 9 29, 268 1, 7i 1 8, 375 5
355, 000
7, 824 638
1 95, 319 6, 464
5, 008, 000 125, 000 1, 000, 000 388, 100
1, 024, 249
136, 696
15, 626 16, 773 9 $5, 535, 288 $155, 139 $1, 302, 329 5 $I, 030, 713 -0- $708, 868
203 ?68 27 346 37 845 I31 005
9,
75, 286 6, 682, 914
13, 339 34, 198 32, 943 $4, 384, 063
$203, 768 27, 346 13, 339 414, 043 $?5, 286 $6, 8I3, 919 32 943 -0- $4, 384, 063 -0-
$219, 394 44, 119 13, 348 $5 949 331 $230, 425 $8, I I 6, 248 32, 948 $1, 030, 713 $4, 384, 063 $708, 868
�See notes to financial statements)
This st atement i$ an integral part of report dated May 5 1964.
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Exhibit 2
1 Village of Brooklyn Center
General Fund
BALANCE SHEET
December 3I, 1963
I ASSETS
Assets
Cash on hand and depositories $142, 733
Temporary investments 15, 409
Accounts receivable 6, 665
Due from other funds 30, 294
Cash held by County Treasurer's office 3, 447
Taxes receivable:
Real estate and personal property taxes;
Levied durin� 1962, collectible in 1963 6, 509
Prior years' levies 3, 413 9, 922
Inventories of supplies:
Materials and supplies 5, 549
Small tools 5, 375 10, 924
Total
$219, 394
LIABILITIES, RESERVES AND SURPLUS
Liabilities
Vouchers payable 5, 816
Accrued payroll 7, 788
Accrued expenses 1, 560
Due to other funds 462
j, Total Liabilities 15, 626
Surplus
Reserve for 1963 budget encumbrances 10, �465
Reserve for imprest cash and inverbries 11, 124
Total Surplus Reserved 21, 589
Unappropriated surplus (Exhibit 3) 182, 179
Total Surplus 203, 768
i Total $219, 394
(See notes to financial statements
This statement is an integral part of report dated May 5, 1964.
Exhibit 3
Villa e of Brookl n Center
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General Fund
ANALYSIS OF CHANGES IN UNAPPROPRIATED SURPLUS
December 31, 1963
A ctual
Budget Over (Under)
Actual Estimate Estixnate
Unappropriated Surplus -January 1, 1963 $I33, 251 $133, 251
Add:
Revenue (Exhibit 4) 705, 642 688, $66 $16, 776
Reductions to reserves for assets
set asi.de for specific use 340 340
Total Balance and Additions $839, 233 $822, 117 $17, 116
Deduct:
Expenditures (Exhibit 5) $646, 589 $695, 107 $48, 518)
Encumbrances (Exhibit 5) 10, 465 10, 465
Total Deductions $657, 054 $695, IO'T ($3$, 053)
Unappropriated Surplus-December 31, 1963 $182, I79 $127, O10 $55 169
(See notes to financial statements)
This statement is an integral part of report dated May 5, 1964.
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Exhibit 4
Village of Brooklyn Center
General Fund
STATEMENT OF REVENUE-ESTIMATED AND ACTUAL
Year 1963
Actual
Budget C�ver(Under)
Actual Estimate �stimate
Taxes
Real estate and personal property taxes $386, 728
Penalties and interest on tax bills 4, 647
Total Taxes $391, 375 $387, 416 3, 959
Licenses, Permits and Fines
Fines 24,813
Building permits 6, 957
Electrical permits 5, 344
Plumbing permits 4, 947
Heating permits 3, 502
Dog licenses and pound fees 2, 452
Sewage and water permits 2, O15
Electrical licenses 1, 050
Plumbing licenses 1, 035
Heating licenses 720
Cigarette licenses 535
Bicycle Iicenses 496
Certificates of occupancy 397
Gas piping licenses 390
Service station licenses 333
Zoning charges and special permits 271
Well drillers licenses 260
Bowling a1Ley licenses 244
Well permits �10
Garbage and rubbish hauling licenses 190
House movers licenses 150
Cesspool cleaning permits 135
Water softener permits 125
Cesspool cleaners and installers licenses lI5
Liquor licenses 100
Taxicab licenses 100
Vending truck licenses 75
Malt licenses 65
Bench licenses 56
Coin operated cleaners licenses 25
Miscellaneous licenses 14
Total Licenses, Permits and Fines 57, 121 65, 000 7, 879)
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Exhibit 4
Village of Brooklyn Center Cont'd
General Fund
STATEMENT OF REVENUE-ESTIMATED AND ACTUAL
Year 1963
A ctual
Budget Over(Under)
Actual Estimate Estimate
Shared Taxes
State cigarette and liquor taxes 75, 74? 75, 000 747
State aid for streets 15, 677 17, 000 1, 323)
Mortgage registry tax 6, 078 6, 078
Total Shared Taxes 97, 502 92, 000 5, 502
Charges for Current Services
Recreation (transportation,
registration, etc. II, 388
Assessment searches and map sales 1, 275
Platting fees 4?7
Work order charges I, 491
Total Charges For Current Services 14, 631 6, 850 7, 781
Charges to Other Funds
Engineering and clerical fees 46, 484
Rent and administrative charges:
Public Utilities Fund 9, 030
Work order charges 4, 403
Expense reimbursements Liquor Fund 772
Total Charges to Other Funds 60 689 59, 000 1, 689
Other
Interest on temporary investments 2, 923
Rent Minnesota Highway Department 462
Hall rental 104
Sale of truck to Public Utilities Fund 800
Sale of miscellaneous assets 386
Suburban Gas Agency dues refund 675
Mi.scellaneous refunds and income (postage,
1 charges for traffic control, civil defense
refunds, etc. j 373
Total Other 5, 724 -0- 5, 724
Transfers In
Municipal Liquor Fund 72, 100 72, 100
Certificate of Indebtedness #5 Fund(Note 2) 6, 500 6, 500
�s, 600 �s, 600 -o-
Total Revenue $705, 642 $688, 866 $16, 776
(See notes to financial statements)
This statement is an integral part of report dated May 5, 1964.
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Village of Brooklyn Center Exhibit 5
General Fund
STATEMENT OF EXPENDITURES, APPROPRI�TIONS AND ENCUMBRANCES
Year 1963
1963 Bud�et Appropriat�ons Expenditures and Encumbrances �Over Expended�
Original Amendments 1963 1963 Dec.31 1963 Under Expended
1963 Budget To Budget Appropriation Expenditures Encumbrances Appropriations
General Government
Mayor, Council and Treasurer 33, 215 12, 624 20, 591 2I, 100 509)
Election and voter registration 9 349 9 349 9, 168 I8I
i Municipal Court 5, 000 6, 088 11, 088 12, 242 �1, 154�
Finance Municipal Clerk 65, 625 220 65, 845 59, 384 300 6, 161
i Assessor 10, 640 132 10, 772 I1, 293 52I)
Accounting and internal audit 16, 394 16, 394 17� 36? 973)
Independent audit 5, 000 5, 000 4, 472 528
Legal 8, 000 8, 000 I0, 591 2, 591)
General government buildings 26, 321 26, 321 27, 686 I33 I, 498)
Total General Government $I79 544 6 184j $I73, 360 $I73, 303 433 376)
Public Safety and Welfare
Police protection $I47, 393 1, 439 $148, 832 $132, 65I 7, 679 8, 502
Fire protection 20, 488 20 488 15, 491 498 4, 499
Protective inspection 29, 225 29, 225 26, 406 2, 819
Civil defense 4, 09� 4, 090 1, 599 2, 491
Animal control 3, 500 3, 500 4 122 622�
Nursing service 6, I00 6, 100 6, 454 354)
Total Public Safety and Welfare $2I0, 796 l 439 $212, 235 $186p 723 8, 177 $17, 335
Highways
Engineering 65 83? 65, 837 66, 330 6 499�
Street department and maintenance shop 163, 885 163, 885 136, 849 1, 809 25, 227
Street lighting 26, 000 26, 000 24, 575 1, 425
Total Highways $255, 722 -0- $255, 722 $227, 754 1, 815 $2h, 153
Recreation
Supervision of recreation 9 579 9, 579 9, 484 27 68
Adult programs 3p 630 3 630 4, 804 1, 174
Summer playgrounds 9, 190 9, 190 9, 031 159
Summer programs 8, 605 8, 605 12, 735 I3 4, 143)
Fall and winter programs 5 300 5, 300 5 269 3I I
Total Recreation 36 304 36, 304 41, 323 40 $�5, 059�
Transfers
To Park Fund -0- 17 486 17, 486 I7 486
Grand Total $682, 366 12� 741 $695, 107 $646, 589 $l O 465 $38, 053
4See notes to financial statements�
This statement is an integral part of report dated May 5 1964
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Village of Brooklyn Center Exhibit 6
General Fund
STATEMENT OF EXPENDITURES AND ENCUMBR.ANCES
CLASSIFTED AS TO ACTIVITY, CHARACTER AND OBJECT
Year 1963
Total Current Expense ClassifiCation
Encumbrances Total Total Capital Expend. Classification
and Current Personal Contractual Capital C)utlay Land and Land
Expenditures �xpense Services Services Commodities Other Expenditures Improvements Equipment
General Government
Mayor, Council and Treasurer 21, 100 $20, 932 $19, 426 1 5Q6 168 168
Elections and voter registration 9, 168 2, 901 726 2 I75 6 267 6 267
Municipal Court 12, 242 l I, 715 10, 847 776 92 527 527
Finance Municipal Clerk 59, 684 59, 222 34, 292 $10, 923 5, 233 8, 774 4b2 462
Assessor 11, 293 l l 061 IO 225 782 54 232 232
Accounting, internal audit I7, 367 17, 367 17, 324 43
E Tndependent audit 4, 472 4, 472 4, 392 80
Legal 10, 591 10, 591 l0 591
General government buildings 27, 819 I7, 741 9 249 6, 023 2, 469 10, 078 7, 503 2, 575
Total General Government $I73, ?36 $156, 002 $117, 072 $17, 808 8 532 $12 590 $17, 734 7, 503 $10, 23I
Public Safety and Welfare
Police protection $140, 330 $132, 329 $I19, 329 1, 002 8, 806 3, 192 8, OOI 8, OOI
Fire protection 15, 989 13, 763 9, 440 1, 161 2, 981 181 2, 226 2, 226
Protective inspection 26, 406 26, 406 25, 479 799 128
Civil defense 1, 599 1, 599 881 676 42
Animal control 4, 122 4, 122 4� 122
Nursing service 6, 454 6, 454 6, 454
Total Public Safety and Welfare $194, 900 $I84, 673 $165 705 3, 638 $II, 829 3, 50I $I0, 227 $10, 227
Highways
Engineering 66, 336 64, 448 62 103 282 2, 001 62 1, 888 I, 888
Street department and maintenance
shop 138, 658 131, 419 87, 059 1, 145 40, 495 2, 720 7, 239 7, 239
Street lighting 24 575 24, 575 24, 575
Total Highways $229 569 $220, 442 $149: 162 $26, 002 $42, 496 2 782
9, 127 9, 127
Recreation I
Supervision of recreation 9, 511 9, 5I 1 8, 433 493 489 96
Adult programs 4, 804 4, 804 3, ?02 1, 102
I Summer playgrounds 9 031 9 031 6, 872 2, 159
Summer programs 12, 748 12 748 9, 535 3, 213
Fall and winter sports 5 269 5, 269 5, 091 178
Total Recreation 41, 363 41, 363 33, 633 493 7, 141 96 -0- -0- -0-
Transfers
To Park Fund 17, 486 17, 486 $I7, 486
Grand Total $657 054 $619, 966 $465, 572 $47, 941 $69 998 $36 455 $37,-088 7, 503 $29, 585
�See notes to financial statements�
This statement is an integral part of report dated May 5, 1964.
16
Exhibit 7
Village of Brooklyn Center
Special Revenue Funds
I COMBINED BALANCE SHEET
December 31, 1963
Combined Park Board Poor
Total Fund Fund
A SSETS
Assets
Cash on hand and in depositories $36 598 $27, 357 99 241
Temporary investments 5, I44 5� I44
Accounts receivable 199 l99
Cash held by County Treasurer's
office 190 143 47
Taxes receivable.
FZeal estate and personal property taxes
Levied during 1962, collectible
during 1963 Y, 476 1, 13b 340
Prior years levies 512 365 I47
Totals $44 I 19 $29 200 $14 919
LIABILITIES, RESERVES AND SURPLUS
Liabilities
Vouchers payable 1, 639 919 720
Accrued payroll 99� 990
Due to other funds 14a I44 14, I 14 30
Total Lzabilities $16 773 $16, 023 750
I Sur lus
p
Reserve for 1963 budget encumbrances 226 226
Unappropriated surplus (Exhibit 8) 27 120 I� 951 14 169
I' Totals $44 I 19 �Zg 200 �14 919
(See notes to financial statements)
This statement is an integral part of report dated May 5 1964
r
I I7
1
Exhibit 8
j Village of Brooklyn Center
Special Revenue Funds
COMBIIVED ANALYSIS OF CHANGES IN UNAPPROPRIATED SURPLUS
December 31, 1963
Combined Park Board Poor
Total Fund Fund
Unappropriated Surplus, January I 1963 l I, 216 I, 588 9, 628
Add: Revenue (Exhibits 9 and 12) l I5, 80I 95, 352 20, 449
Deduct: Expenditures and encumbrances
(Exhibits 10 and 12) 99, 897) 83, 989) I5, 908)
Unappropriated Surplus, December 31, 1963 27, I20 $12,951 $I4 169
1
(See notes to financial statements)
This statement is an integral part of report dated May 5, 1964.
I
r
�it
-18-
Exhibit 9
Village of Brooklyn Center
Park Board Fund (A Speci.al Revenue Fund)
STATEMENT OF REVENUE-ESTIMATED AND ACTi7AL
Year 1963
A ctual
Budget Over(Under)
I Actual Estimate Estimate
General property tax special
ad valorem levy $63, 658 $63, 759 101)
Rents 900 1, 480 580)
Conce s sions 643 643
Contr ibutions 3 00 3 00
Sale of lot 4, 000 4, 000
Sale of mower 450 450
Sale of junked I949 auto 15 15
Transfer from liquor fund 7, 900 7, 900
Transfer from general fund 17, 486 I7, 486
�95, 352 $90, 625 4, 727
(See notes to financial statements)
This statement is an integral part of report dated May 5 1964
i
t
19
Exhibit IO
1
Village of Brooklyn Center
Park Board Fund {A Special Revenue Fund)
STATEMENT OF EXPENDITURESp APPROPRYATIONS AND ENCUMBRANCES
Year 1963
1963 �Over Expended�
Budget 1963 1963 Under Expended
Function Appropriation Expenditures Encumbrances Appropriations
General park administration $50, 991 $50, 660 331
General park maintenance 11, 650 10, 83I 40 779
Park garage 900 8I4 5 8I
Operation of special facilities:
Grandview Park 800 660 I1 129
Northport Park 400 309 20 71
Garden City Park 350 370 20 40)
Orchard Park 250 135 II5
Happy Hollow Park 250 229 16 5
B ellvue Park 225 l I b I 09
Kylawn Park 225 42 I83
Willow Lane Park 150 I3 137'
Wangstad Park 50 lI 39
1 Evergreen Park 50 4 46
Facility acquisition and improvements 19, I45 19 569 114 538)
I Total $85, 436 $83, 763 $226 1, 447
{See notes to financial statements�
This statement is an integral part of report dated May 5, 1964.
1
1
1
2 p
Exhib it I 1
Village of Brooklyn Center
Park Board Fund 4A Special Revenue Fund�
STATEMENT OF EXPENDITURES AND ENCUMBRANCES
CLASSIFIED AS TO ACTIVITY CHARACTER AND OBJECT
Year 1963
Total Total
Encumbrances Total Current Expense Classification Capital Capital OutLay Classifieation
and Current Personal Contractual Outlay Land and Land
Activity Expenditures Expense Seraices Services Commodities Other Expenditures �provements Buildings Equipment
General park administration $50, 660 $42, 308 $40, 669 311 I 1 1, 317 8, 352 7 201 1 I 51
General park maintenance 10, 871 8, 063 6, 949 I 114 2 808 2, 808
Park garage 819 819 740 79
Special facilities:
Grandview Park 2, 257 671 534 I37 1 586 558 I, 028
Northport Park 842 329 200 I29 513 269 244
Garden City Park 3 846 39� 162 228 3, 456 I 018 1, 697 74I
Orchard Park 885 135 59 76 750 84 666
Happy Hollow Park 561 245 I37 108 316 18 298
Bellvue Park 1, OS2 l Ib 61 55 936 450 486
Kyla.wn Park 928 42 40 2 886 399 487
Willow Lane Park 6, 7I9 13 13 6, 706 1, 342 5, 084 280
Wangstad Park 309 11 I1 298 298
Evergreen Park 4 4 4
Brooklane Park 490 490 490
Palmer Lake properties 3, 746 3, 746 3, 746
Total $83, 989 $53, 146 $40, 669 2, 248 7, 798 2, 431 $30 843 $15, 085 6, 78I 8, 977
�See notes to financial statements�
This statement is an integral part of report dated May 5, 1964
1
2Y
i
Exhibit 12
Village of Brooklyn Center
Poor Fund (A Special Revenue Fund)
STATEMENT OF R�VENUE AND EXPENDITURES
Year 1963
Revenue
General property tax special ad valorem levy $19 999
Relief grants 306
Interest earned on temporary investments 144
Total Revenue $20, 449
Expenditure s
Subsistence care and support payments $12, 732
Professional and consultants and administrative fees 3, 176
Tota1 Expenditures $I5, 908
Excess of Revenue Over Ex enditures 4, 541
P
(See notes to financial statements)
This statement is an integral part of report dated May 5, 1964.
1
-22-
i
Exhibit 13
Village of Brooklyn Center
Debt Service Funds
COMBINED BALANCE SHEET
December 31, I963
Redemption Funds
Certificates State Loan
Combined Park of (Cash Basis
Total Bonds Indebtedness Fund)
ASSETS
Cash on hand and depositories 9 695 7, 613 2, 082
Temporary investments 636 452 184
Due from other funds 16 16
Cash held by County Treasurer's
office 1, 507 88 43 1, 376
Taxes receivable:
Real estate and personal property:
Levied 1962, collectible 1963 846 596 250
Prior year levies 648 340 308
Totals $13, 348 9, I05 2, 867 1, 376
LIABILITIES AND SURPLUS
Liabilities
Due to other funds 9 9
Surplus
Unappropriated surplus
(Exhibit 14) $13, 339 9, 105 2, 858 l y 376
Totals $13, 348 9, 105 2, 867 1, 376
(See notes to financial statements)
This statement is an integral part of report dated May 5 1964
23
Exhibit 14
Village of Brooklyn Center
Debt Service Funds
COMBINED STA TEMENT
OF REVENUE, EXPENDITURES AND SURPLU5
Year 1963
Redemption Funds
Certificates State Loan
Combined Park of (Cash Basis
Total Bonds Indebtedness Fund}
Unappropriated Surplus,
January I, 1963 $18, 097 7, 546 8, 323 2, 228
Add: Revenue
General property tax levies 50, 501 35, 092 14, ?26 683
Interest on temporary
investments 636 452 184
Total Balance and Additions $69, 234 $43, 090 $23, 233 2, 911
Deduct: Expenditures
Transfer to general fund
(Note 2) 6, 500 6, 500
Principal paid 34, 300 $20, 000 13, 000 1, 3a0
Interest expense 15, 035 13, 925 875 235
Service charges(paying agent) 60 60
TotaL Expendi.tures $55, 895 $33, 985 $20, 375 1, 535
Unappropriated Surplus
December 31, 1963 $13, 339 9a 105 2, 858 1, 376
(See notes to financial statements)
This statement is an integral part of report dated May 5 1964
-24-
t
All Funds
Combined
Assets Totals
Cash on hand and in depositories 131, 272
Temporary investments 745 084
Accounts receivable 14, 434
Due from other funds 23, 594
Cash held by County Treasurer's office 15, 741
Taxes receivable {delinquent} 59
Assessments receivable:
Future year installments (principal) 3, 123, 433
1962 collectible in 1963 (principal and interest) 41, 672
Delinquent (principal and interest) 31, 800
From Park Board Fund (principal-no interest charge} 88, 231
From Village General Fund �principal-no interest charge) 54, 280
From University of Minn. �principal and interest) Earl Brown properties 403, 211
Interest applicable to 1963 on installments to be collected during 1964 3, 325
General Village share for future taxation �principal only) 469, 829
Authorization to assess for construction in progress 271,460
Cash held by paying agents for debt and interest 531, 906
Totals $5 949 331
Liabilitie s
Vouchers payable 28, 934
Accrued expenses (interest and financing costs) 7, 680
Due to other funds 29, 268
Construction loans payable 355, 000
Bon.ds payable 4, 582, 500
Bonds and interest not redeemed (monies with paying agent�
Bonds maturing January 1, 1964 425, 500
Interest coupons maturing January 1, 1964 98, 582
Bonds and interest matured not redeemec7 7, 824
Total Liabilities $5, 535, 288
Surplus and Appropriation Balances
Unagpropriated surplus (deficit� for debt retirement (Exhibit 16} 379, 845
Unexpended appropriations for construction (Exhibit I7) 34, 198
Totals $5, 949, 331
(See notes to financial statements}
This statement is an integral part of report dated May 5, 1964.
Exhibit 15
Village of Brooklyn Center
Special Assessment Funds
COMBTNED BALANCE SHEET
December 31, 1963
Bond Fund 1955 A 1956 AC 1956 B 1957 AB 1958 A 1958 B 1959 AB 1960 AB 1961 AB 1963
No. 1 Fund Fund Fund Fund Fund Fund Fund Fund Fund Fund
10, 183 5, 943 15, 875 4, 015 9, 303 16, 148 7, 805 19, 076 5, 047 6, 801 3I, 076
49, 033 I34, 127 129, 239 59, 221 114 384 59, 039 155 609 39, 761 750 I, 056 2, 865
I 4, 43 4
76 7, 373 12, 748 154 2, 781 462
41 47 59 42 65 68 78 5, 616 9,.725
59
109, 1g0 80, 524 245, I64 59, 296 124, 848 258, 488 126, 427 302, 239 900, 912 791, 961 124, 384
513 715 1, 425 162 899 1, 724 324 l 53g 15, 113 19, 258
403 I, 225 3, 587 377 2, 376 2, 197 743 695 15 906 4, 291
12, 436 3, 021 I4, 377 3, 775 32, 153 22, 469
460 901 486 15, 978 36, 455
64, 864 54, lI5 33, 620 229,492 21 120
250 74 1p 135 I, 866
2, 705 4, 319 19, 091 139, 298 197, 40I I04, 282 2, 733
27I, 460
27, 559 25, 144 63, 800 52, 550 5I, 358 37, 552 25, 130 47, 585 133, 52I 67, 707
$196, 998 $312, 648 $528, 405 $I75 663 $3I0, 573 $423, 673 $343, 731 $5b7, 202 $1, 552, I I7 $1 103, 475 $434, 846
14, 602 I4, 332
680
77 2, 763 18 1, 503 24, 907
355, 000
$I53, 500 2I4, 000 $380 000 $I00, 000 $160, 000 $375, 000 $290, 000 525, 000 1, 405, 000 980 000
24, 500 21, 000 55, 000 50, 000 45 000 30 000 20, 000 35, 000 100 000 45, 000
3, 059 3, 819 8, 509 2, 550 4, 250 7, 552 5, 130 I1, 825 30, 720 21, 168
325 291 2, 108 760 2, 80I 1, 539
$18I, 059 $239, 221 $443 800 $152, 550 $211, 358 $412 552 $315, 130 $575, 348 $1, 538, 539 $I, 063� 8I2 $40I, 919
15, 939 ?3, 427 84, 605 23, l I3 99, 215 I I 121 28 601 8, 146� I3, 578 39 663 1, 271)
34, 198
$196, 998 $3I2, 648 $528p 405 $175, 663 $310 573 $423, 673 $343, 731 $567, 202 $1, 552, I I7 $l, 103, 475 $434, 846
25 I
Exhibit 16
Village of Brooklyn Center
Special Assessment Funds
COMBINED STATEMENT OF REVENUE, EXPENDITURES
AND UNAPPROPRIATED SUR]?LUS FOR DEBT RETYREMENT
Year x 963
Combined
Total Bond Fund 1955 A 1956 AC 1956 B 195? AB 1958 A 1958 B 1959 AB 1960 AB 1961 AB 1963
All Funds No. 1 Fund Fund Fund Fund Fund Fund Fund Fund Fund Fund
Unappropriated Surplus �Deficit�
January 1, 1963 $350, 188 $I3, 826 $69 606 $89, 283 $22, 165 $94, 345 $29, 70? $26, 044 $(6, OIO� {$I4, 484j $25, 706 -0-
Add: Revenue for 1963
1963 interest on assessment
rolls $197, 818 6, 536 4, 700 $14, 1 I4 3 690 9, 057 $17, 439 7, 756 $20, 511 $60, IO2 $52, 028 1, 885
Interest earned on U. of M.
contract {Brown properties� I7, 391 2, 703 2, 165 I, 398 10, 376 749
Income earned on temporary
investments 33, 696 1, 948 4, 395 9, 260 3, 226 4, 427 2, 330 5, 128 I, 162 749 I, 056 15
Unused construction moneys
transferred to debt retirement
purposes 25, 958 18, 815 7, 143
Excess of assessments over
cost of projects completed
transferred to debt retirement
purposes 199 199
Total Revenue for 1963 $275, 062 8, 484 $l I, 798 $25, 539 6, 916 $I3, 484 $21, 167 $I2, 884 $21, 673 $90, 042 $61, 175 1, 900
Deduct: Ex enditures for 1963
P
Interest expense $209, 612 6, I I8 7, 637 $21, 705 5, 100 8, 500 $15, 105 $10, 260 $23, 651 $61, 440 $46, 925 3, 171
Premium paid on called bonds 7 500 7, 500
Paying agent charges I, 408 76 45 454 75 78 75 5I 103 279 172
Roll processing charges
to county 744 84 78 I29 10 36 62 16 55 154 120
Assessments written off �Note 3} 26, I4I 93 217 429 783 24, 511 107 1 I
Total Expenditures for 1963 $245, 405 6, 371 7, 977 $30, 2I7 5, 968 8, 614 $39y 753 $10 327 $23, 809 $61, 980 $47, 21$ 3, I7I
Unappropriated Surplus �Deficit�
December 31 1963 $379 845 $I5 939 $73, 427 $84, 605 $23, I I3 $99, 215 $11 121 $2&, 601 $(8, 146p $13, 578 $39 663 l, 271) I
�See notes to financial statements}
This statement is an integral part of report dated May 5, 1964.
26
I
Exhibit 17
Village of Brooklyn Center
I Special Assessment Funds
CONSTRUCTION EXPENDITURES COMP�ARED TO APPROPRIATTONS
Year 1963
Combined
Total 1960 AB 1961 AB 1963
A11 Funds Fund Fund Fund
4 080 637 1 814 9I1 2 265 726 -0-
Original Appropriations as of January 1 1963
Additions and �Deductionsj
New projects initiated during 1963 151, 92I 151, 92I
Appropriations transferred from 1961 AB Fund to 1963 Fund �See Note 4f 510, 277) 510, 277
Sub-Total $4, 232, 558 $I, 814, 91I $1, 755, 449 $662, 198
Less; Appropriations cancelled 296, 280} 290, 804j 5, 476�
Total Appropriations $3 936 278 $1, 814, 911 $1, 464, 645 $656, 722
Deduct: Expenditures for construction
During years prior to 1963 $3, 558, 147 $1, 795, 897 $1, 762, 250 -0-
During 1963 317, 975 200 2, 009 315, ?66
Expenditure related to appropriations transferred from 1961 AB to 1963 Fund
(See Note 4j 306, 758 306, 758
Total Expenditures for Construction $3, 876, 122 $I,'�96, 097 $1, 457, 501 $622, 524
Appropriation Balance 60, 156 18, 814 144 34, 198
Less: I
Restricted construction monies transferred to debt retirement purposes
upon completion of all projects within closed funds 25, 958 I8, 814 7 144
Unexpended Appropriation for Construction, December 31, 1963 34, 198 -0- -0- 34, 198
�See notes to financial statements�
This statement is an integral part of report dated May 5, 19b4.
27
Exhibit 18
Village of Brooklyn Center
Special Assessment Funds
STATEMENT OF LONG TERM DEBT(PRINCIPAL AMOUNT)
t December 31, 1963
Bond
Redemption Balance Last
Year of Total Monies to Unpaid Installment
Fund Description of Issue Issue Issue Paying Agent 12-31 63 Due on Coupon Rates on Outstanding Bonds
Bond Fund 1 Storm Sewer 1 serial issue 1952 304, 000 176, 000 128, 000 I-1 -72 3. 50%
Sanitary Sewer 1 serial
issue 1952 48, 000 30, 000 18, 000 I-1-73 3. 20
1953 A serial issue 1953 30, 000 30, 000 -0- 1-I -64 3. 25
1953 B serial issue 1953 55, 000 50, 000 5 000 1-1-69 3 30
1954 A serial is sue 1954 37, 000 35, 000 2, 000 1-1-65 3� 00
1954 C serial issue 1954 22p 500 22, 000 500 I-1 -65 2. 50
1955 A 1955 A serial issue 1955 497, 000 283, 000 2I4, 000 1-1-76 3. 25
1956 AC 1956 A serial issue 1956 535, 000 460, 000 75, 000 1-1-67 3. 75
1956 C serial issue 1956 550, 000 245, 000 305, 000 1-1-77 3e 90
1956 B 1956 B serial issue 1956 200, 000 200, 000 -0- 1-1-62 3. 30
1956 B refunding issue 1960 200, 000 I00, 000 100, 000 1-1-66 3. 40
1957 AB 1957 A serial issue 195? 430, 000 330, 000 100, 000 1-1-67 4. 00
1957 B serial is sue 1957 350, 000 290, 000 60, 000 1-I -67 4. 50
1958 A 1958 A serial issue 1958 530, 000 155, 000 375, 000 1-I -79 175 M@4. 00%;75 M@ 3. 9�%;75 M@ 3� 60°Jo;50 M@ 3. 10°�
1958 B 1958 B serial issue 1958 390, 000 100, 000 290, 000 1-1-79 9� M@ 3. 60�fo; 60M 3. 50°jo; 60 M@ 3. 20°�0; 80 M@ 3. OO�fo
1959 AB 1959 AB serial issue 1960 630, 000 105, 000 525, 000 I-1-81 185 M@ 4. 50%; 200 M@ 4. 25'�f 105 M@ 4. 00°fo; 35 M@ 3. 75°�
1960 AB 1960 A serial issue 1960 �68, 000 148, 000 620, 000 1-I -81 90 M@ 3. 00°j 390 M@ 4. 20°J 140 M@ 4. 50%
1960 B serial issue 1961 885, 000 100, 000 785, 000 I-I -8I 315 M@ 4. 20°j 180 M@ 4, l0�f 140 M@ 4. 00°� 150 M@ 3� 80°�0
1961 AB 1961 A serial issue 1962 595, 000 35, 000 560, 000 I-1 -82 150 M@ 3. 75°jo; 120 M@ 3. 70%; 120 M@ 3. 40°f 170 M@ 3. 00%
1961 B serial issue 1963 430, 000 10, 000 420, 000 I-1-84 100 M@ 3. 70°j I20 M@ 3� 60QJ 80 M@ 3. 30%; 120 M@ 2� 80%
$7, 486, 500 $2, 904, 000 $4, 582, 500
�See notes to financial statements)
This statement is an integral part of report dated May 5, 1964.
28
Exhibit 19
Village of Brooklyn Center
Municipal Liquor Fund
BALANCE SHEET
Decem}�er 3I, I963
ASSETS LIABILITIES AND SURPLUS
Current Assets Current Liabilities
Cash on hand and in depositories 50 602 Accounts payable 22, 564
Temporary investments 46, 432 Accrued salaries and wages I, 318
Miscellaneous receivables (netj 257 Accrued Public Employees Retirement Association contribution 1, 284
Cash held by paying agent revenue certificate Accrued interest payable on revenue certificates 2, 624
account �Note 5� 16, 261 Due to other funds I, 7I I
Merchandise inventory �valued at cost) 88, 103 Bonds, coupons and call premiums �matured but not
Prepaid expenses 1, 402 presented to paying agent� 638
Certificates payable por�ion due within one year �see belowj 13, 000
Total Current Assets $203, 057 Total Current Liabilities 43, 139
Fixed A s s ets Provision Lon T erm Liabilitie s
g
for
Depreciation Book Revenue certificates payable (Exhibit 24j $I25, Q00
Cost Amortization Value Less: Portion due within one year �as above� 13, 000
Fixtures and Equipment
Lyndale Avenue store $11 f 420 $10, 775 645 Total Long Term Liabilities I I2 000
Osseo Road store 14, 053 6 537 7, 5I6
Brookdale store 10, 873 I, 987 8, 886 Total Liabilities $155, 139
Leasehold Improvements
Brookdale store 16 269 5, 948 l0 321 Surplus
$52, 615 $25 247
Total Book Value of Fixed Assets 27, 368 Restricted per terms of resolution authorizing the
issuance of revenue certificates �Note 5� I?, 72$
Undistributed surplus 57, 558
1
Tota Surplus 75 286
Total Assets $230, 425 Total Liabilities and Surplus $230, 425
{See notes to financial statements)
This statement is an integral part of report dated May 5, 1964.
29
Exhibit 20
Village of Brooklyn Center
Municipal Liquor Fund
AIVALYSIS OF CHANGES IN SURPLUS
Year 1963
Surplus, January 1 1963 b9, 961
Add: Net income (Exhibit 23) 85, 324
Total Balance and Additions $I55, 285
Deduct: Transfers to other Funds
General Fund $72, 100
Park Board Fund 900 80 000
Surplus, December 31 1963 75, 285
(See notes to financial statements)
This statement is an integral part of report dated May 5, 1964.
30
Exh�bit 2I
Village of Brooklyn Center
Municipal Liquor Fund
STATEMENT OF INCOME AND EXPENSE
Year 1963
Combined #1 #2 #3
Total Lyndale Ave. Osseo Road Brookdale
All Stores Store 5tore Store
Sales $752, 202 $177, 360 $357, 703 $217, I39
Less: Cost of inerchandise sold 578, 678 I36, 974 276, 902 164, 802
Gross Margin on Sales $173 524 40, 386 80, 801 52, 337
Less: Operating expenses requiring funds
Salaries and wages 55, 309 17, 591 22, 934 14, 784
Rent {Note 6� 8, 963 8, 963
Utilities and heat 4, 218 991 1 817 I, 4I0
Insurance 1, 908 802 587 519
Supplies 1, 645 334 737 574
Public employees retirement fund 1, 284 545 572 167
Auditing 998 349 349 300
Repairs and maintenance 882 212 402 268
Telephone 689 223 264 202
Protection service b96 150 216 330
Mileage 198 66 66 66
Inventory variance and adjustments 306 43 232 3I
Laundry 143 83 24 36
Licenses andtaxes I73 57 58 58
Provision for bad checks �net of recoveriesj 99 59 40
Mis cellaneous 15 5 5 5
Breakage 71 23 3"8 10
Cash (over� and short 16) 54� 51 I3)
Total Operating Expenses Requiring Funds 77, 58I 21, 479 28, 352 27, 750
Net Operating Income Before Depreciation and Amortization 95, 943 18, 907 52, 449 24, 587
Less: Depreciation and amortization of leasehold improvements 6, 885 1, 013 1, 530 4, 342
Net Operating Income 89 058 17, 894 50, 919 20, 245
Add: Interest on temporary investments and check cashing fees 1, 543
Deduct: Interest and paying agent charges on revenue certificates 5, 277�
Net Income 85, 324
4See notes to financial statements�
This statement is an integral part of report dated May 5, 1964.
31
Exhibit 22
Village of Brooklyn Center
Municipal Liquor Fund
STATEMENT OF LONG TERM DEBT
December 31, 1963
Tnterest Revenue Certificates Principal Revenue Certificates-Interest Coupons
Certificate Coupon Outstanding Retired Outstanding Dates of Outstanding Retired Outstanding
Numbers Rate 1-1 -63 1963 I2-31-63 Maturity 1-1 -63 1963 12-3I -63
11-15 4. 00�/0 5 000. 00 5, 000, 00 -0- 1-I -63 2, ?23. 75 2� 723., 75 -0-
7-1 -63 2 623. 75 2, 623. 75 -0-
16-28 4. 00 13, 000. 00 13, 000. 00 1-I -64 2, 623. 75 2, 623. 75
7-1 -64 2, 363. 75 2, 363. 75
29-41 4. 00 13, 000. 00 I3, 000. 00 1-1 -65 2, 363. 75 2, 363. 75
7-1 -65 2 I03. 75 2, 103. 75
42-54 4. 25 I3, 000. 00 13, 000. 00 1-1 -66 2, 103. 75 2, 103. 75
7-I -66 l, 827. 50 I, 827. 50
55-67 4. 25 13, 000. 00 13, 000. 00 1-1 -67 l 827. 50 I, 827. 50
7-1 -67 1, 551. 25 I, 55I. 25
68-80 4. 25 I3 000. 00 13, 000. 00 1-1 -68 I, 551. 25 1, 55I. 25
7-1 -68 1, 275. 00 1, 275. 00
81-95 4. 25 15, 000. 00 15, 000 00 1 1, 275. 00 I, 275. 00
7-1 -69 956. 25 956. 25
96-110 4. 25 15, 000. 00 15 000. 00 1-1 -70 956. 25 956. 25
7-1 -70 637. 50 637. 50
111-125 4. 25 15p 000. 00 15, 000. 00 1-1 -7I 637. 50 637. 50
7-1 -71 318. 75 318. 75
126 -140 4. 25 I5, 000. 00 15, 000. 00 1-1 -72 318, 75 318. 75
$130, 000. 00 5, 000. 00 $125, 000. 00 $30, 038. 75 5, 347. 50 $24, 691 e 25
General Provisions of Issue
a. Obligations are payable solely frorn net operations of the Municipal Liquor Stores and are in no way
a general tax liability of the Village.
b. All certificates share on a parity basis in total net revenue of all stores.
c. All certificates which mature after Janup,ry 1, 1968 are subject to redemption (call� in inverse numerical order
on January l 1965 or any interest payxrxent date thereafter upon payment as follows:
I. If redeemed prior to January I, !,1968 at par �$1, 000} plus accrued interest, plus premium of $30. 00 on
each certificate redeemed.
2. Yf 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 asid.e of funds to meet principal and
interest maturities.
�See accompanying notes to financial statements�
This statement is an integral part of report dated May 5 1964
32
Exhibit 23
Villa�e of Brooklyn Center
Public Utilixies Fund
BALANCE SHEET
December 'al, 19b3
ASSETS LIABILITIES
Current Operating Assets Current Operating Liabilities
13 167 Vouchers payable 2I, 083
Cash on hand and in depositories
Temporary investments 193 965 Accrued Public Employees Retirement Association contribution 2, I87
Accounts receivable Utility customers 35, 340 Accrued salaries and wages 723
Accrued revenue receivable (estimated unbilled sales� 22, 329 Due to other funds 3, O10
Accounts receivable �other than utility services� I0� 919
Due from other funds 50 Total Current Operating Liabilities 27, 003
Inventory of stores and supplies 4, 065
Prepaid expenses 998 Liabilities Payable From Restricted Asset Accounts
Construction account:
Total Current Operating Assets 280p 833 Contracts and vouchers payable $155, 348
Due to other funds 5, 365 160, 713
Assets Restricted As To Use �Note 7� Revenue accounto
Receivables Accrued interest on bonds payable 19, 294
and Total Liabilities Payable From Restricted Accounts 180, 007
Accrued
Cash Investments Revenue Total Long Term Liabilities
Customer meter deposits 95, 319
f Construction Revenue bonds payable, dated 7-I -63 �Note 7� 1, 000, 000
accounts $10, 963 $773, 121 8, 971 793 055 Total Long Term Liabilities 1, 095, 319
Revenue bond
account 28, 892 28, 941 236 58, 069 Total Liabilities $1, 302 329
Reserve account -0- 76, 977 1, 205 ?8, 182
$39, 855 $879: 039 $10, 412 NET WORTH
Total Restricted Assets 929, 306
Contributions in aid of construction $6 682, 914
Plant and Property Restricted earned surplus �Note 7� $130p 463
Water and sewer utility in service �Exhibit 27} $6, 919, 763 Unrestricted earned surplus 542 131, 005
Lesso Provision for depreciation �'Exhibit 27} 394, 955
Book Value of Plant and Property in Service 6, 524, 808 Total Net Worth 6, 8I3 919
II Other Assets
Work in progress �financed by revenue bond issue} 38I, 164
Current capital outlay 137
Total Other Assets 381,301
Total $8, l 16 248 Total $8, 116, 248
�See notes to financial statements�
This statement is an integral part of report dated May 5 1964
I -33-
Exhibit 24
II Villa f Brookl n C n r
ge o y e te
I Public Utilities Fund
STATEMENT OF INCOME AND EARNED SURPLUS
Year 1963
Water Sewer Cambined
Department I7epartrr�ent Total
I Services to customers $I32, 725 $167 032 299 757
Sewer permits 2, 360 2, 360
Customer penalti.es 674 3 990 4, bb4
Earnings on temporary investments 2, 9�2 2, 90I 5, 803
Other income 660 287 947
Gross Operating Revenues $136, 961 $I76 570 313, 531
Less: Operating revenue deductions
Operating expenses (Exh. 25 26) 60, 592 $I04, 352 164, 944
Depreciation 42, 2I5 44, 498 86, 713
Total Operatin� Revenue Deductions $102 80? $14�, 850 251 657
Net Operating Income 34, 154 27, 720 61, 874
Other Income
Interest earned on revenue account investments I, 926
Interest earned on construction account investments I3, 506
Other Expense
Interest expense and service charges on bonds payable 16,,324)
Net Income 60, 982
Earned surplus January I 1963 70 023
I Total E r
a ned Surglus, December 3I y 1963 131, 005
(See notes to financial statements)
This statement is an irfegral part of report dated May 5, 1964.
-34-
r
E�hibit 25
Village of Brooklyn Center
Public Utilities Fund
WATER DEPARTMENT OPERATING EXPENSES
Year 1963
Source of Supply
Power 7, 004
Purification supplies 3, 333
Labor 3, 500
Materials 992
Supplie s 592
Operati.on and maintenance of equipment 350
Fuel heati.ng 319
Equipment rental 132
Pump xepairs 40
Repairs to structures 34
Small tools 10
Dues and subscriptions 8 $16, 31�
Transmis sion
Materials 6, 701
Labor 2, 173
Repairs to mains 102 8 976
Admi.nistration
Salaries and wages $II, 702
Consulting fees 9, 178
Rent and administration (to Village of Brooklyn Center) 4, 500
Insurance 1, 202
Provision fox° Publ.ic Empioyees Retirement Fund 1, 094
Operation and maintenance of equipment 363
Fuel equipment 349
Water charge refunds 285
Printing 173
Schools and conferences 113
Materials 89
Supplie s 53
Uncollectible accounts 43
Dues and subscriptions 30
Mgleage 29
Penalty refunds 3 29 206
Customer Accounting and Collections
Salax°ies and wages 3, 449
Postage 1, 968
Printing 343
Suppli.e s 18I
Operation and maintenance 155 6 096
Total Water Department Operating Expenses $60, 592
(See notes to financial statements)
This statement is an integral part of report dated May 5 1964
35
Village of Brooklyn Center Exhibit 26
Public Utilities Fund
SEWER DEPARTMENT OPERATING E�PENSES
Year 1963
Disposal Soux°ce
Rent City of Minneapolis $7I, 624
Rent Village of Crystal 3, 420 75, 044
Pumping
Labor 4, 037
Power 3, 561
Materials 486
Alarm system 166
Supplie s 145
Fuel heating 118
Repairs to lift stations 74
Equipment rental 67
Operation and maintenance of equipment 22
Consulting fees 12 8, 688
Tra.nsmission
Labor 1, 272
Supplie s 2I 3
Equipment rental I26
Repairs to mains 61
Materials 29
Small tools 20 I 721
1 Administration
Salaries and wages 8, I08
Rent and administration (to Village of Brooklyn Center) 4, 500
Provision for Public Employees Retirement Fund 1, 094
Insurance 462
Consulting.fees 413
Operation and maintenance of equipment 399
Fuel equipment 350
Schools and conferences 100
Sewer charge refunds 68
Penalty refunds 38
Materials 30
Milea ge 29
Supplies 22
Small tools 22
Other 18 15, 653
Customer Accounting and Collection
Salaries and wages 2, �93
Postage 735
Operation and maintenance of equipment I55
Printing and supplies 263 3, 246
Total Sewer Department Operating Expenses $104, 352
(See notes to financial statements)
This staternent is an integral part of report dated May 5 1964
-36-
r Exhib it 2 7
Village of Brooklyn �enter
Public UtiTities Fund
SUMMARY STATEMENT OF PLANT AND PROPERTY
AND PROVISION FOR DEPRECIATION
December 31, 1963
Assets Provisions for Depreciation
Balance Balance Balance Balanc e De pr eciable
1-1 -63 Additions Ded'ns I2-31 -63 1-1 -63 Additions Ded°ns 12-3I -b3 Life
Water Department
Mains and lines 1 8 3 837 5 423 1 53 260 67 78 18 38 86 727 100 ears
9, $99 $�9 9 99 Y
Structures 362, 123 1, 538 363, 661 31, 793 l l 488 43, 281 30 years
r Consumer meters in use 84, 565 4, 600 89, 165 I3, 423 4, 228 I7, 65I 20 years
Equipment 135, 692 3, 466 139 158 19 566 7, 561 27, 127 5, I0, 20 25 years
t Total Water Department $2, 476, 217 $69, 027 -0- $2, 545, 244 $132, 571 $42, 215 $-0- $174, 786
Sewer Department
Mains and lines 4 34 535 14 55 4 364 4 0 172 817 43 4 5 216 I2 I00
9, 9 9 9 3 year s
Equipment 10, 029 10, 029 2, 854 1 003 3, 857 10 years
Total Sewer Department $4, 359, 564 $I4, 955 $-0- $4, 374, 519 $I75� 671 $44, 498 $-0- $220 169
Total Water and Sewer Departrrients $6, 835, 78I $83, 982 $-0- $6 919 763 $308, 242 $86, 7I3 $-0- $394, 955
�See notes to financial statements�
This statement is an integral part of report dated May 5, 1964.
i
1
37
Exhibit 28
Village of Brooklyn �Center
Public Utilities Fu.nd
SUMMARY OF
SOURCE OF FUNDS INVESTED IN PLANT AND PROPERTY
December 31, Ii963
1
Balance Balance
I January I, Year 1963 December 31,
1963 Additions Adjustments 1963
Original Cost of Plant and Property �Exhibit 27� $6, 835, 78I $83, 9g2 $6 919 763
Source of Funds Invested
Contributions in aid of construction received from s ecial assessment
P
districts and contractors.
Water department assets $2, 270 599 $58, 216 2 328 815
9
Sewer department assets 4, 341, 591 14, 807 2, 299� 4 354 099
From operating funds of the public utilityo
Water department assets 205, 618 10 8I I 2I 6, 429
Sewer department assets I5, 630 148 2, 299 1 8, 077
Total Funds Invested by Source $6, 833, 438 $83 982 $-0- $6, 917, 420
Addo
Adjustment for depreciation provisions applicable to years
prior to 1957. At the inception of the public utilities fund
during 1957, assets were recorded at original cost and depreciation
applicable to periods prior to 1957 was charged to contributed
surplus 2 343 2, 343
1 Total as Above
$6 835 781 $83, 982 0- $6, 919, 763
4See notes to financial statements�
This statement is an integral part of report dated May 5 1964
-38-
r
Exhibit 29
Village of Brooklyn Genter
Public Utilities Fund
STATEMENT OF LONG TERM DEBT
December 31, 196�
1 Interest Principal Interest Coupons
Certificate Coupon Tssued Retired Outstanding Date of Issued Retired Outstaxlding
Numbers Rates 7-1 -63 1963 I2-31-63 Maturity 7-1 -63 1963 I2-3I-63
1-1-64 19, 293. 75 19, 293. 75
7-I -64 19, 293. 75 I9, 293. 75
I-1 -65 19, 293. 75 19, 293. 75
7-1 -65 19, �93. 75 19, 293. 75
1-5 3. 75% 25, 000. 00 25, 000. 00 1-1 -66 I9, 293. 75 19, 293. 75
7-1 -66 18, 825. 00 18, 825. 00
6-10 3. 75 25, 000. 00 25, 000. 00 I-1 -6? 18p 825. 00 18, 825. 00
7-1 -67 18, 356. 25 18, 356. 25
1 I-15 3. ?5 25, 000. 00 25, 000. 00 1-1 -68 I8, 356. 25 I8, 356. 25
7-1 -68 17, 887. 50 17, 887. 50
16-20 3. 75 25, 000. 00 25, 000. 00 1-1 -69 17, 887. 50 17, 887. 50
7-1 -69 17, 418. 75 17, 418.'75
21-25 3. 75 25, 000. 00 25, 000. 00 1-I -70 17, 418. 75 17, 418. 75
7-1 -70 16 950. 00 16, 950. 00
26-31 3. 75 30, 000. 00 30, 000. 00 1-I -71 16, 950. 00 16, 950. 00
7-I -71 16, 387. 50 16, 387. 50
32-37 3. 75 30, 000. 00 30, 000. 00 1-I -72 16, 387. 50 16, 387. 50
7-1 -?2 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. 50 I5, 262. 50
44-49 3. 75 30, 000, 00 30, 000. 00 T-1 -74 I5, 262. 50 15, 262. 50
7-I -74 I4 700. 00 I4, 700. 00
50-55 3. 75 30 000. 00 30, 000. 00 I-I -75 14, 700. 00 14, 700. 00
7-1 -75 14, 137. 50 14, I37. 50
56-61 3. 9� 30, 000. 00 30 000. 00 1-1 -76 I4, I37. 50 14, I37. 50
7-I -76 I3 50 13, 552. 50
62-68 3. 90 35, 000. 00 35, 000. 00 1-T -77 13, 552. 50 13, 552, 50
7-1 -77 12� 870. 00 12, 870. 00
69-75 3. 9� 35 000. 00 35, 000. 00 1-I -78 I2, 870. 00 12, 870. 00
7-I -78 12, I87. 50 12, I87. 50
76-82 3. 90 35, 000. 00 35, 000. 00 I-1 -79 I2, I87. 50 12, I87. 50
7-1 -79 l lp 505. 00 I 1, 505. 00
83 -89 3. 9� 35, 000. 00 35, 000. 00 1-1 -$0 11, 505. 00 11, 505. 00
7-1-80 10� 822. 50 I0, 822. 50
I 90-96 3. 9� 35, 000. 00 35, 000. 00 I-1-81 10, 822. 50 10, 822. 50
7-1 -81 l Op 140. 00 I0, 140. 00
97-104 3. 90 40, 000.-00 40, 000. 00 1-1-82 l O 140. 00 10, 140, 00
7-I -82 9, 360. 00 9, 360. 00
39
Exhibit 29
Village of Brooklyn Center Cont'd
Public Utilities Fund
STATEMENT OF LONG T,ERM DEBT
December 3I, 1963
Interest Principal Interest Coupons
Certificate Coupon Issued Retired Outstanding Date of Issued Retired Outstanding
Numbers Rates 7-I -63 1963 12-3I -63 Maturity 7-1 -63 1963 12-3I -63
1 105-112 3. 9�% 40, 000. 00 40 000. 00 I-I -83 9, 360, 00 9, 360. 00
7-1 -83 8 580. 00 8, 580. 00
113-I 20 3. 9� 40, 000. 00 40, 000. 00 1-1 -S4 8, 580. 00 8, 580. 00
7_1 _84 7, 8��. �0 7, 8��. 0�
121-128 3. 90 40, 000. 00 40, 000. 00 1-1 -85 7, 800. 00 800. 00
7-I -85 7, 020. 00 7, 020. 00
129-137 3. 9� 45, 000. 00 45, 000. 00 I-I -86 7, 020. 00 7, 020. 00
7-I -86 6 142 50 6, I42. 50
I38-I46 3. 90 45, 000. 00 45, 000. 00 1-1-87 6, I42. 50 6, 142. 50
7-I -87 5, 265. 00 5, 265. 00
147-155 3. 9� 45, 000. 00 45, 000. 00 1-I -88 5 265. 00 5, 265, 00
7-1 -88 4 387. 50 4, 387. 50
156-1 b4 3. 9� 45, 000. 00 45, 000. 00 1-1 -89 4, 387. 50 4, 387. 50
7-I -89 3, 510. 00 3, 510. 00
165-173 3. 90 45, 000. 00 45, 000. 00 1-1 -90 3, 510. 00 3, 510. 00
7-1 -90 2, 632. 50 2, 632. 50
174-I 82 3. 90 45, 000. 00 45, 000. 00 1-1-91 2, 632. 50 2, 632. 50
7-1 -91 1, 755. 00 1, 755. 00
183-191 3. 90 45, 000. 00 45, 000. 00 1-I -92 1, 755. 00 1, 755. 00
7-I -92 877. 50 877. 50
192-200 3. 90 45, 000. 00 45, 000. 00 1-1 -93 877. 50 877. 50
1 $1 OOO, OOO OO �—O— �l OOO OOO 00 $6$4, 783. 50 $-0- $684, 783. 7_5
General Provisions of Tssue
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 bands which mature on January I 1982 or thereafter are subject to redemption �call� on
January 1, 1974 or any interest payment date thereaft�r in inverse numerical order, at par
and accrued interest and premium as followso
1. Tf redeemed prior to January l 1977, premiurr� of 3°jo.
2. If redeemed January I, 1977 or thereafter prior to January 1, 198I p premium of I-I /2%.
3. Tf redeemed January 1 1981 or thereafter, no ,�remium.
C. The resolution authorizing and directing the issuance 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 �he 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 7 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 5, 1964.
40
Exhibit 30
ill f B ookl n C nter
V age o r y e
n Funds
Age cy
COMBINED BALANCE SHEET
December 31 1963
Agent For
Public
Fire Dept. Employees
Combined Relief Retirement
T otal A s sociation A s sociation
ASSETS
Cash on hand and in depositories $10, 805 $10, 805
Temporary investments 17, 579 17, 579
Due from other funds 20 20
PERA contributions due from
enterprise funds 3, 471 3, 471
Cash with County Treasurer's office 90 32 58
I Taxes receivablec
Levied in 1962, collectible in I963 590 188 402
Prior years tax levies 393 193 200
Totals $32, 948 $433 $32, 515
I LIABILITIE� AND FUND BALANCES
Due to other funds 5 5
Fund balances (See Exhibit 31) 32, 943 $433 32 5I0
Totals $32, 948 $433 $32, 515
1 (See notes to financial statements)
'I This statement is an integral part of report dated May 5, 1964e
�I 41
Exhibit 31
Village of Brooklyn Center
Agency Funds
COMBINED STATEMENT
OF REVENUE, EXPENDITURES AND FUND BALANCES
Year 1963
Public
Fire Depte Employees
Combined Relief Retirement
Total Association Association
Fund Balance, January I, 1963 $3I 466 532 $30, 934
Add: Revenue
Real estate and personal property taxes 34, 754 11, 060 23 694
Insurance premium rebate 4, 881 4, 881
Public employees retirement fund
contributions from enterprise funds:
Liquor stores 1, 283 1, 283
Public utility fund 2, 187 2, 187
Earnings on temporary investments 504 504
Balance and Additions $75, 075 $16, 473 $58, 602
Deduct: Expenditures
Payments to principal of agency 42, 119 16, 027 26, 092
Write off-1957 tax Ievy balance 13 13
Total Expenditures $42, 132 $16, 040 $26, 092
Fund Balance December 31, 1963 $32, 943 433 $32, 510
(See notes to financial statements�
1 This statement is an integral part of report dated May 5, 1964.
42
i
1
Exhibit 32
I,' Village of Brooklyn Center
Investment Trust Fund
BALANCE SHEET
December 31, 1963
A5SETS
Cash in depositories 34, 426
Accrued interest receivable 5, 800
I Investments:
Face Va1ue Discount Cost Basis
U. S, government
securities $625, 000 1, 513 $623, 487
Brooklyn Center securities 12, 000 12, 000
Construction loans 1963 A Fund 355, 000 355, 000
$992 000 1, 5I3
Total Investments 990 487
Total Assets $1, 030, 713
LIABILITIES
Due to contractors (contractors' performance deposits) 6, 464
Due to artici i
II at n funds e
P P g
Special assessment funds $745, 084
Public utilities fund 193 965
Municipal liquor fund 46, 432
Public employees retirement association fund 17, 579
General fund 15, 409
Poor fund 5, 144
Park bond redemption fund 452
�'I' Certificate of indebtedness fund 184
Total Due to Participating Funds (See Exhibit 36) I e 024, 249
Total Liabilities $1, 030, 713
�See notes to financial statements)
This statement is an integral part of x°eport dated May 5, 1964.
II�
43
Exhib it 3 3
Village of Brooklyn Center
Investment Trust Fund
STATEMENT OF EARNINGS
December 3I, 1963
Interest Income
United States government securities 19, 966
Construction loans 12, 214
Certificates of deposit 12, 202
Brooklyn Center securities 875
Temporary loan General Fund 102
Total Interest Income 45, 359
Expenses
Audit 303
Net Income Distributed to Participating Funds 45, 056
Explanation
The Investment Trust Fund was established during 1956 to provide for the
investment of 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
1963 3. 18% 45, 056
1962 3e17 61,129
196i 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 Earnings Since Inception of Fund $280, 131
(See notes to financial statements}
This statement is an integral part of report dated May 5, 1964.
44
Exhibit 34
Village of Brooklyn Center
Investment Trust Fund
CHANGES IN PARTICIPATING FUND BALANCES
Year 1963
Balance Net Fund Income of Balance
January 1, Additions 1963 December 31,
1963 (Withdrawals) Distributed 1963
Special Assessment Funds
1958 B 149 432 1, 050 5, 12? 155 609
1955 A 130, 457 725) 4, 395 134, 127
I956 AC 395, 879 275, 900) 9, 260 129, 239
1957 AB 122, 883 I2, 925) 4, 426 114, 384
1956 B 94, 595 38, 600) 3, 226 59, 221
1958 A 50, 908 5, 800 2, 331 59, 039
Bond Fund No. 1 43, 485 3, 600 1, 948 49, 033
i959 AB 299 38, 300 I, 162 39, 761
1963 A -0- 2, 850 15 2, 865
1961 AB 47, 852 47, 852) 1, 056 1, 056
1960 AB 2, 275 2, 275) 750 750
Total Special Assessment
Funds $I, 038, 065 ($326, 677) $33 696 745, 084
Public Utilities Fund 183, 162 5, 000 5, 803 193, 965
Municipal Liquor Fund 20, 082 z5, 000 1, 350 46, 432
Public Employees Retirement
Fund -0- 17, 075 504 17, 579
General Fund 12 486 -0- 2, 923 15, 40�
Poor Fund -0- 5, 000 144 5, I44
Park Bond Redemption
Fund 614 614) 452 452
Certificate of Indebtedness
Fund 947 947) 184 184
Total All Funds $1, 255, 356 ($276, 163) $45, 056 $I, 024, 249
(See notes to financial statements)
This statement is an integral part of report dated May 5, I964.
45
Vlllage of Brooklyn Center Exhibit 35
SUMMARY STATEMENT OF GENERAL FTXED ASSETS
December 31, 1963
January 1, Year 19a3 Balance
Investment 1963 Acquisitions Disposals Dec. 3I, 19b3
Land and land improvements 3I, 615 7, �03 39, 1 I8
Buildings Osseo Road and 63rd Avenue 100, 589 100, 589
Building 65th and Lyndale 84, 251 783 85, 034
Building Municipal Hall 53 086 1, 620 54, 706
Buildings Other 36, 315 36, 315
Park properties (includes buildings�
Northport I05, 725 513 106, 238
Grandview 83, 183 1, 5�9 84, 772
Willow Lane 54, 356 6, 620 60, 976
Bellvue 48, 007 940 48, 947
Garden City 33, 922 3, 456 37, 378
Happy Hollow 32, 385 316 32, 701
Kylawn 26, 366 889 27, 255
Evergreen 24, 098 24, 098
Orchard 15, 270 750 16, 020
South Creek 5, 655 5, 655
Wangstad 63 298 361
Palmer Lake Terrace 3, 745 3, 745
Brooklane 453 453
Undistributed 21, 297 7, 201 28, 498
Equipm ent
Street and highway 193, 660 9, 157 5p 929 196, 888
Fire protection 84, 581 1, 728 86, 309
Recreation 22, 616 3, 957 26, 573
Civil defense 10, 452 10 452
Police 12 520 279 12 799
Courts 127 I27
General equipment 62, 729 62, 729
Furniture and fixtures 37, 088 1 673 38, 761
Storm sewer and street projects 2, 914, 786 241p 780 3, I56 5b6
Totals $4, 031 886 $358, 106 5, 929 $4, 384, 063
Source of Tnvestment
I,' General indebtedness 578, 091 3 160 574, 93I
Ad valorem levies 342, 357 2 769 339, 588
Liquor store revenues and certificates I88 546 $116p 025 304, 571
Contributions received 8, 106 300 8, 406
Special assessment projects (storm sewers and streets�
Owners, contractors and Village share 2, 894, 786 84, 601 2, 979, 387
Hennepin County 20, 000 157, 180 177, 180
Totals $4, 031, 886 $358, 106 5 929 $4, 384, 063
�See notes to financial statements�
This statement is an integral part of report dated May 5, 1964.
46
Exhibit 36
Village of Brooklyn Center
SUMMARY STATEMENT
OF GENERAL LONG TERM DEBT AND INTER�ST
1 December 31, 1963
Amount Available And to be Provided
1 Amount available in debt service funds (See Exhibit 13)e
Park bond redemption fund 9, 105
Certificate of indebtedness redemption fund 2, 858
State loan 1, 376 I3, 339
On deposit with paying agents 40, 400
Total Amount Available 53, 739
Amount to be provided in future periods:
For interest $I�9, 296
For principal 525 833
Total Amount to be Provided 655, 129
Total Amount Available And to be Provided $708, 868
General Debt and Interest to be Paid in Future Periods (Exhibit 37)
General debt (principal portion):
Park acquisition bonds $355, 000
Certificates of indebtedness 25, 000
State loan certificates 8, 100
Contract payable voting machines 41, 560
Assessments on Village properties (Note 8) 142, 512
Total Genera3. Debt (Principal Portion) $572, 172
Interest payable in future periods,
Bonds and certificates $I29, 460
Contracts payable 7, 236
Total Interest Payable in Future Years I36 696
Total General Debt And Interest to be Paid in Future Periods $708, 868
(See notes to financial statements)
This statement is an integral part of report dated May 5 1964
47
Exhibit 37
Village of Brooklyn Center
SCHEDULE OF
GENER.AL LONG TERM DEBT A1VD INTEREST BY MATURITIES
December 3I, 1963
General Debt Principal Portion Interest Payable
Payment Certificates State Certificates
due Total Park of Loan Contracts Assessments Payable Total Park of State Loan Contracts
During Principal Bonds Indebtedness Certificates Payable General Parks Interest Bonds Indebtedness Certificates Payable
1964 49, 164. 79 20 000. 00 I3, 000. 00 1, 300. 00 6, 267. 40 1, 360. 90 7, 236. 49 16, 298. 97 I3 578. 75 647. 50 202. 50 1, 870, 22
1965 50, 096. 90 20, 000. 00 12, 000. 00 1, 300. 00 6, 267. 40 3, 292. 00 7, 237. 50 I4, 854. 44 I2, 886. 25 210. 00 I70. 00 1, 588. 19
1966 37 87I. 28 20, 000. 00 I, 300. 00 6, 267. 40 3, 292. 00 7, 011. 88 13, 631. 15 I2, 187. 50 137. 50 1, 306. 15
1967 37, 971. 29 20, 000. 00 1, 400. 00 6, 267. 40 3 292. 00 7, 01I. 89 12, 599. 12 11 470. 00 105. 00 1, 024.12
1968 39 855. 40 20, 000. 00 1, 400. 00 6, 267. 40 3, 292. 00 8, 896. 00 1 I, 542. 09 10, 730. 00 ?0. 00 742. 09
1969 39, g58. 99 20, 000. 00 1, 400. 00 6, 267. 40 3, 295. 59 8, 896, Oo 10, 468. 8I 9, 973. 75 35. 00 460, ob
1970 38, 648. 12 20, 000. 00 2, 461. 00 7, 291. I 2 8, 896 00 9, 371 77 9, 193. 75 I 78. 02
1971 38, 847. 09 20, 000. 00 1, 495. 00 7, 291. 12 10, 060. 97 8 463. 53 8, 396. 25 67. 28
1972 41, 206. 19 20 000. OQ 7, 291. 12 13p 915. 07 7, 598. 75 7, 598. 75
1973 36, 360. 78 20, 000. 00 7 291. 12 9, 069. 66 6, 796. 25 6, 796. 25
1 1974 27, 291. 12 20, 000. 00 7p 291. I2 5, 9g8. 75 5, 988. 75
1975 20, 000. 00 20, 000. 00 5, 175. 00 5, I75. 00
1976 20, 000. QO 20, 000. 00 4, 355. 40 4, 355. 00
1977 20, 000. 00 20, 000. 00 3, 535. 00 3, 535. 00
I, 1978 20, 000. 00 20, 000. 00 2, 7I5. 00 2, 715. 00
1979 20, 000. 00 20, 000. 00 l 895. 0o i, 895, o0
1980 20, 000. 00 20, 000. 00 1, 075. 00 I, 075. 00
I, 1981 15, 000. 00 I5, 000. 00 332. 50 332. 50
Totals $572, 171. 95 $355, 000. 00 25, 000. 00 8, 100, 00 $41, 560. 40 �54, 280. 09 $88, 231, 46 $136 696 I3 $I27, 882, 50 857. 50 720. 00 7, 236. I3
�See notes to financial statements�
This statement is an integral part of report dated May 5, 1964.
48
Village of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
Year -1963
Note 1: The "Combined Balance Sheet-Al1 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 represent 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 operations of each fund
should be ascertai.ned by reference to the individual. exhi.bits as sub-
mitted for that £und within this report.
i Note 2: (General Fund)
Certificates of Indebtedness issued prior to 1Q62 were all
retired by January 1, 1963. As of January 1, 1963, the surplus
relating to these retired certificates totalled $6, 833. 23. During 1963
the portion of this surplus represen�ed by cash �$6, 500) was
transferred from the debt service fund (Certificate of Indebtedness
Fund) to the general fund at the direction of the Village Council.
Note 3: (Special Assessment Funds)
Assessments written off ($26, 141. 14) include an amount o£
$24, 511. 22 cancelled from the rolls of the 1958 A fund. The amount
represents assessments against property owned by the State of
Minnesota for highway purposes and the write-off of these assessments
was authorized and directed by the Village Council after determination
that the amount was not collectible from the State.
Note 4: (Special Assessment Funds)
During the year, appropriations and related appx°opriation
expenditures for certain projects were transferred from the 1961 AB
Fund to the 1963 B Fund. The financing for these transferred
projects is arranged through the 1963 Fund and the transfer was
necessary so as to combine the activities of project construction,
financing, and assessments to property owners in the same fund
entity.
Note 5: (Municipal Liquor Fund)
The resolution directing and authox°izing the issuance of
revenue certificates contains certain restrictive covenants which
were enacted for the benefit and protection of certificate holders.
Paragraph 5c provides that at least quarterly the followin
g
year's principal and interest requirements be segregated and set
1 aside in cash for benefit of certificate holdersa As of December 31,
1963 cash in the amount of $15, 623. 75 (representing interest and
principal falling due on January 1, 1964) had been transferred to the
paying agent.
49
Village of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
Year 1963
Note 5: (Municipal Liquor Fund)
(Cont'd) Paragraph 5d requires a restriction of surplus egual to the
next ensuing year's principal and interest requirement. As of
December 31, 1963 restricted surplus totalled $I7, 727. 50.
($13, 000 principal due January 1, 1965 and interest for the year
I964 in the amount of $4, 727. 50),
Note 6: (Municipal Liquor Fund)
Store #1 (Lyndale Avenue Store) and Store #2 (Osseo Road
Store) are located on Village owned-properties. Store #3 is
located in the Brookdale shopping center and the premises are
occupied pursuant to terms of a five year lease which expires on
February 28, 1967. The rental for store and warehouse £acilities
is fixed at $666. 67 per monthe The rental for parking and mall
1 facilities is based upon a proportionate share of the maintenance
and upkeep expenditures made by the landlord and is adjustable
yearly.
Note 7: (Public Utilities Fundj
Public Utilities Revenue bonds in the principal amount of
$I, 000, 000 were issued during the current year, for the purpose
of providing money to construct an addition to the water works
system of the Village.
The bonds and related interest are payable solel from the
Y
Public Utilities Fund and are not considered a general obligati.on
indebtedness of the Village. A schedule of debt and interest
maturities is shown at Exhibit 29 of this report,
Paragraph 8 of the resolution providing for the issuance of
these bonds defines accounting requirements and designates that
within the Public Utilities Fund five separate accounts are to be
maintained as followsa
1. Construction Account -"To the Construction Account
shall be credited all proceeds from the sale of bonds
issued hereunder and any other funds heretofore or
hereafter appropriated to such Construction Account
by the village council, except that there shall be
deducted from the bond proceeds any premium and
accrued interest paid on the sale of bondse The moneys
in such account shall be used to construct an addition to the
1 waterworks plant and system".
50
I
Village of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
Year 1963
Note 7: (Public Utilities Fundj
(Cont'd) 2. Operation Account -"To the Operation and Mai.ntenance
Account there shall be credited, as a first lien and charge
on the gross revenues, such sum as shall be needed, over and
above any credit balance then held therein, to pay all claims
then due and allowed which by accepted accounting practices
constitute normal, reasonable and current expenses of
operation and maintenance of the utility, and to pay such
expenses estimated to accx°ue for a peri.od of one month,
and to maintain a reasonable reserve for contingencies.
Moneys in �aid account shall be used only to pay expenses
of the foregoing type and not for major repairs, replacements or
capital improvements which are properly chargeable to
replacernent and depreciation reserves or surplus funds.
The net revenues of the utilities, which are herein pledged
and appropriated to the extent required for the payment
of the bonds herein authorized and interest thereon, are
hereby defined as the aggregate of all sums on hand in
the Public Utilities Fund i�i excess of the current
requirements of the Operation and Maintenance Account
as herein set forth".
3. Reverxue Bond Account -�'To the R.evenue Bond Account
there shall be credited, out of the net xevenues on hand
at the ti.me of each three-month distributi.on, an amount
equal to not le s s than one -foux°th of the sum of the
principal and interest payments to become due upon all
outstanding bonds which are payable from said account
within the next succeeding period of twelve months. If
the net revenues on hand at any time are insufficient to
permit the transfer to said account of the full amount so
required, such deficiency shall be x°estored out of the
next net revenues thereafter received. There shall also
be credited to said account the premium and accrued
interest, if any, paid on each issue of revenue bonds
payable from said account. The moneys in said
account shall be used only for the purpose of paying the
princip�.l and interest, as such principal and interest
respectively become due, on revenue bonds which are
issued and made payable therefrom, as a first lien and
charge on the net revenues. All moneys pertaining to
said Revenue Bond Account shall be deposited as
received in a special bank deposit account, separate
j� from all other funds of the village".
51
Village of Brooklyn Csnter
t NOTES TO FINANCIAL STATEMENTS
Year 1963
Note 7: (Public Utilities Fund)
(Cont'd) 4e Reserve Account -"To the Reserve Account there is
hereby credited the sum of $75, 000 from net revenues
of the public utilities systems which are on hand and
available for such purpose. It is the intention to
establish and maintain in said account a reserve at aII
times at least equal to the average of the annual
principal and interest payments thereafter required
to be made from the Revenue Bond Account, and in the
event that such average annual principal and interest
requirexnents shall exceed $?5 000 by reason of the
authorization of any issue of bonds payable from the
Revenue Bond Account, additional net revenues shall
be transferred to the Reserve Account quarterly in
amounts sufficient to increase th.e balance therein to the
amount so required within three years from and after
the issuance of such bonds. Moneys in the Reserve
Account shall be used only for the payment of maturing
principal and interest on bonds primarily payable from
the Revenue Bond Account, when and as the moneys i.n
the Revenue Bond Account ax°e insufficient therefor, and
whenever so used shall be restored out of the next net
revenues thereafter received. All moneys pertaining
to the Reserve Account shall be deposited as received
in a special bank deposit account, separate from all
other funds of the village, provided that such moneys
may be invested, in the discretion of th.e village council,
but only in general obligations of the United States
governm ent" e
5. Surplus Account -"All surplus net revenues in excess of the
current requirements of the Revenue Bond Account and
Reserve Account, shall be credited to the Surplus Account,
provided that the village reserves the right to create
additional accounts vvithi.n the Public Utilities Fund for the
purpose of segregating any of such surplus net revenues
which may be pledged and appropriated to the payment of
any obligations hereafter issued to finance improvements,
replacements or repairs of said utilities, other than bonds
made payable from the Revenue Bond Account, and
subject to the prior lien on the net revenues of the bonds
payable from that account. Sux°plus net revenues on hand
from time to time shall be available and shall be used
to the full extent necessary to restore any deficiency in
the .Operation and Maintenance Account, the Revenue
Bond Account and the Reserve Account, but when not so
52
Village of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
Year 1963
Note 7: (Public Utilities Fund)
(Cont'd) 5. Surplus Account, Cont'd
needed may be used to pay for capital improvements,
replacements or repairs of the watex° utility, or to pay
principal and interest on obligations hereafter issued for
such purposes, other than bonds payable from the
Revenue Bond Account, or may be used to redeem and
pay prior to maturity, bonds payable from the Revenue
Bond Account, when and as such bonds become
redeemable according to their tex°ms. Moneys in the
Surplus Account determined by the village council to be
1 in excess of the immediate requirements of said account
for the repair, enlargement, alteration, improvement
or extension of the utility may be invested in
1 accordance with the provisions of Chapter 475. 66
Minnesota Statutes"o
1 Pursuant to paragraph l0e of the resolution, an analysis
of each account appears below:
Construction Account
Proceeds of bond sales $1, 000, 000
Earnings provided by temporary
investment of construction
monies 13, 506
$1, 013, 506
Construction expenditure s paid for 220, 451)
Account Balance 793, 055
Revenue Bond Account
Cash on deposit with paying agent to
meet coupons maturing 1-1 -64 19, 294
Accumulated amounts set aside to
meet 1964 requirements fox interest
and principal:
Cash in bank 9, 59�
Certi.ficate of deposit 28, 941
Account receivable 4�
Accrued revenue
receivable 188 38, 775
Account Balance 58, 069
53
Villa�e of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
Year 1963
Note 7: (Public Utilities Fund)
(Cont'd) Reserve Account
I Face value of government securities 75, 000
I Unamortized premium paid on
purchase of securities I, 977
Accrued interest receivable I, 205
Account Balance 78, 182
An analysis of restricted surplus appears belowe
Construction Revenue Reserve
Total Account Account Account
Assets Restricted
Dec. 31, 1963 $929, 306 $793, 055 $58, 069 $78 182
Less:
A. Matured liabilities
payable from
restricted funds I80, 007} I60, 7I3� 19, 294)
B. Monies derived from
borrowing (bond
issues) 618, 836) 618, 836)
Restricted Surplus
Dec, 31, 1g63 $130, 463 13, 506 $38, 775 $78 182
Reauired Per Resolution
Authorizin� Bonds 127, 094 13 506 38, 588 75, 000
Excess 3 369 187 3, I82
The ex�ess of actual restricted asset account balances
over the required amounts as set forth by the resolution
authorizing the bond issue is represented by accrued interest
receivable and premiums paid on investments purchased.
Future transfers to restricted asset accounts will take the
realization of these receivables and the amortization of
premiums into account.
Note 8: (Summary Statement of General Long Term Debt and Interest)
Special assessments relating to improvements
benefiting Vi.11age owned properties total $142, 511. 55 as of
December 3I, 1963. The payments for these improvements,
(with no interest) has been scheduled over a period extending
54
Village of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
Year 1963
Note 8: (Summary Statement of General Long Term Debt and Interest)
(Cont'd)
through 1974. These assessments are the obligation of the
park board fund and the general fund and payment is planned
under general budget procedures whereby required installments
will be appropriated as they become due.
Note 9: The firm of Lindquist, Magnuson and Glennon, attorneys
for the Village, has advised that as of May 18, 1964 there
were no contingent liabilities or pending lawsuits in which the
Village was involved.
i 55