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Village of Brooklyn Center
AUDIT REPORT
For the Year Ended December 31 1962
I TABLE OF CONTENTS
Exhibit Pa ge
Numb er Numb er
Opinion 1 2
General Comments 3
thr ough
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Village Officials December 31, 1962 9
FINANCIAL STATEMENTS
Combined Balance Sheet Al1 Funds and Groups
(Condensed Form) December 31, 1962 1 10
General Fund Statements
Balance Sheet December 31 1962 2 11
Analysis of Chan es in Unappropriated Surplus
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Year 1962 3 12
Statement of Revenue Estimated and Actual
Year 1962 4 13, 14
Statement of Ex enditures A ro riations and
P PP P
Encumbrances Year 1962 5 15
Statem ent of Expenditur e s and Encumbrance s
Classified as to Activity, Character and Object
Year 1962 6 16
Special Revenue Funds Statements
Combined Balance Sheet December 31 1962 7 17
Combined Analysis of Changes in Unappropriated
Surplus Year 1962 8 18
Village of Brooklyn Center
AUDIT REPORT
For the Year Ended December 31, 1962
TABLE OF C�NTENTS
Exhibit Page
Number Number
Special Revenue Funds Statements �Cont'd)
Park Board Fund (a special revenue fund)
Statement of Revenue Estimated and Ac�ual
Year 1962 9 19
Statement of Expenditures, Appropriations and
Encumbrances Year 1962 10 ZO
Statement of Expenditures and Encumbrances
Classified as to Activity, Character and Object
Year 1962 11 21
Poor Fund (a special revenue fund)
Statement of Revenue and Expenditures
Year 1962 12 22
Bond Funds Statements
Combined Statement of Revenue and Expenditures
Year 1962 13 23
Cornbined Statement of Expenditures Compared
With Appropriations December 31 1962 14 24
Debt Service Funds Statements
Combined Balance Sheet December 31, 1962 15 25
Combined Statement of Revenue, Expenditures
and Surplus Year 1962 16 26
Village of Brool�lyra. Center
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AUDIT REPORT
For the Year Ended December 31, 1962
TABLE OF CONTENTS
Exhibit Page
Number l�urnber
5pecial Assessment Funds Statements
Combined Balance Sheet December 31, 1962 17 27
Combined Statement of Revenue, Ex enditures
P
and Unappropriated Surplus for Debt Retirement
Year 1962 18 28
Statement of Construction Expenditures
Compared to Appropriations Year I962 19 29
Statement of Long Term Debt (Principak Amount)
December 31, 1962 20 30
Public Service and Enterprise Funds
Municipal Li uor Fund
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Balance Sheet December 31, 1962 21 31
Analysis of Ghanges in Surplus Year 1962 22 32
Statement of Income and Ex ense Year 1 62 23 3
p 9 3
Statement of Long Terxn Debt
December 31 1 62 2
9 4 34
Public Utilities Fund
Balance Sheet Decernber 31, 1962 25 35
Statement of Income and Earned Surplus
Year 1962 26 36
Water Department Operating Expenses
Year 1962 �7 37
Sewer Department Operating ExpensEs
Year 1962 28 38
Village of Brooklyn Genter
AUDIT REPORT
For the Year Ended Decexrxber 31, 1962
TABLE OF GONTENTS
Exhibit Page
Number Number
Public Service and Enterprise Funds (Cont'd)
Public Utilities Fund (Cont'd)
Summar Statement of Plant and Pro ert
Y P Y
And Provisa.ons for Depreciation
December 31, I962 29 39
Suxnmary of Source of Funds Invested in
Plant and Property
December 31, 1962 30 40
Agency Funds Statements
Combined Balance Sheet December 31, 1962 31 41
Cambined Statement of Revenue, Expenditures
And Fund Balanees, Year 1962 32 42
Investment Trust Fund (A fund to accomodate
investment of temporary cash surpluses)
Balance Sheet Decexnber 31, 1962 33 43
Statement of Earnings Year 1962 34 44
Changes in Participating Fund Balances
Year 1962 35 45
General Fixed Assets
Susnmary Statement of General Fixed Assets
As of Decer�ber 31, 1962 36 46
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Village of Broaklyn Centex
AUDIT REPqRT
For the Year Ended Decexnber 3]„ 1962
TABLE OF CONTEI�T5
I Exhibit Page
Nurnb e r umb e r
General Long Term Debt and Interest
Summary Statement of General Long Term
Debt and Interest
December 31, 1962 37 4?
Schedule of General Long Term Debt and Interest
By Maturities December 31 1962 38 48
Notes to Financial Statements 49, 50, 51
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OIVA PENTTILA
CERTIFIED PUBLIG ACCOUNTANT
1210 GLENWOOD AVENUE
MINNEAPOLIS 5, MINNESOTA
To the Village Council
Village of Brooklyn Center
Brooklyn Center, Minnesota
Gentlem en:
We have examined the financial statements of the various funds of
the Village of Brooklyn Center as of Deeember 31, 1962 and fpr the
calendar year then ended. Our examination was made in accordance
with generally accepted auditing standards and, accordingly, included
sueh tests of the accounting records and sueh other auditing procedures
as we considered necessary in the circumstances,
Audit Defined
In accordance with the terms of our engagement, we conducted
a''Limited Genexal' Audit", which is de�ined as "an examination
which consis.ts of a review of internal control and accounting
pxocedures and the details of a1L reeords (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 a,uditor is expected to rend�;r
an opinion (subject to such qualifications .as may seem necessary)
concerning all of the transactions and recoxds even though he has
not examined all of them in detail.
Scope of Examination
1 Our examination covered all financial transactions and funds
of the Village as included in the records maintained by the
Depa.r�ment of Finance.
r Qualification
A portion of the funds obtained for recrea�io�.a1 purpases
consists of collections for transportation, registration and sale
of supplies and sundries related to recreation activities. It was
not feasible to confirm these various receipts by ou�side verification
and our examination relating to such nnonies was limited to a review
of amounts as recorded on the books.
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In our opinion (subject to the above qualification) 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 �unds of the Village of Brooklyn Center on December 31 1962
and the results of thear operations for the year then ended, in conforxnity
with generally accepted principles of governmental accounting, applied on a
basis consistent with that of the previous year�
Respectfully submitted,
.�t.l
Oiva Penttila
Certified Public Accountant
Field work completed May 7, 1963
Report signed May 17, 1963
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Village of Brooklyn Center
Audit Year 1962
GENERAL COMMENTS
Or�,anization
The Village of Brooklyn Center was incorporated as a village on
February 14, 19T1, pursuant to Minnesota Statutes (MSA �C�iapter 4I2j
The Village is governed by a Council, consistiz�g of the mayor, a
clerk and three trustees, The general policies of the Village are formulated
by the Council with the assistance of various ad.ministrative -and adv.isory
commissions and boards. The administration of Village affairs is directed
by a Village`Administrator appointed by the Cou�eil and he acts as t13e
executive officer for the �ouncil.
During the year 1962 the judicial requirernents of the Village were
erforrned b two elected justices of the peac�, Effective January 1, 1963,
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the Village adopted a municipal court system, whereby the judiciaJ. process�s
of government are to be administered by a municipal judge th�ough the
"Municipal Court of the Village of Brooklyn Center" as organized under and
pursuant to the Municipal Court Act, Minneso�a Statutes�(Chapter 488).
A general continuity of government for the Village is assured by a
system of s:ta ered terms of office for all elected offieials,
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Village of Brooklyn Center
Audit Year 1962
GENERAL COM11,iiENTS
The Bud�et
The preliminary budget proposals for the ensuing year.'s operatior�s are
prepared jointly by the Department of Finance and �he Village Adxninistrator.
After cor�sideration, review and evaluatiqn of the reliminar bud et b the
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Council, the final proposal known as the "budget doc�ment" is evolved and
adopted by resolution.
The bud et document is entered on the records of the Villa e and becor�es
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an integral part of the Village budgetary system. The Council retains excl�usive
authority over all budget rnatters and amendments are permitted only� wi�h the
s ecific a roval of the n il h uncil x ci s co trol ov�
p pp Cou c. T e Co e er se n r
governmental spendin� by periodically determxning if actual costs �.re in line
with budg�t estimatcs (appropriations) and by reviewiMg unexpended apprqpriation
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a ances.
Governmental budget procedures are not used in connection with th,�
operation of public service enterprises (liquor stores and public utilities)
beeause such enterprises are primarily of a commercial na�ure.
A summary of the T962 budget document is shown belaw:
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Village of Brook yn Center
Audit Year 19b2
CtENERAL COMMENTS
Pro osed Ex enditures Pubiie Service Enter rises.Excluded
A P p
Village operations {General Fund) $6I9, 873
Park General Fund 69, 082
Poor Relief 20, OQ0
t Firemen's-Relief Association I9, 480
Debt Service 59, 56$
Public Employees Retirement Association 23, 635
County Park Systern (remitted direct and not
accounted for by th� Village) 4, 385
Tota1 Proposecl Expenditures -$816, 023
Propased Method of Financing
Taxatian (see below) $469, 486
General fund surplus (prior years) 53, 733
Park Board fund surplus 504
From state and federal agencies (share of
taxes and aids) 91, 400
Local revenues:
Liquor fund transfers 72, 600
Rental of park properties 2, 820
5ervices to special assessment funds 52, 200
Services to public utilities fund 8, 280
Permits, licenses, fines, fees,
reixnbursements, etce 65, 000
Total Proposed Financing $816, 023
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Vi11a e of Brooklyn Cent�r
Audit Year 1962
GENERAL COM1vIENTS
I Tax Lev (Certified 1961 Collectible in 1962)
Y
Mil1
Rate Amount
VilJ.age operations (General Fund) 30, 35 $294, 338
Park general fund 4, 97 4$, 200
Poor relief 2. 07 20, 075
Firemen's Relief Association 2. 00 19, 396
Debt service
Certificate of Indebtedness 2e 22 21, 529
Park bond redemption 3. 77 36, 562
State loan repayment e 26 2, 522
P. Ee R. A. 2. 44 23, 663
`County park system (remitted direct) 46 4, 461
Tota1 Levy 48. 54 mills $�470, 746
Taxation as proposed by budget 4b9, 4�6
Overage caused by County adjustment of mill rate fractions 1, 260.
Assessed Valuation
1961 1962
Real estate $8, 207, 283 $8, 567, 267
Personal property 1, 164, 640 1, 130, 8�7
Total assessed valuation $9, 371, 923 $9 698 11�
Actual results of opera�ions and comparis:on of these results to budget
I estimates for the year are set forth by applieable funds within the financial
statements section of this report.
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Village of Brooklyn Cen.ter
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Audit Year I962
GENERAL COMMENTS
A c counting
The Village adheres to generally accepted accounting principles and
principles related to governmental accounting as set forth by the National
Committee on Governmental Accounting in the maintenance of its records.
Except for the Public Utilities Fund, the classifications of accounts,
used by the Village, are i,n accord with classifications prescribed by the
State Public Exaxniner's office. The classification of accounts for the_
Public Utilities Fund follows recommendations set forth by the Manual of
Wa�er Works Accountin� (developed by the Municipal Finance Officers
Association-and the American Water Works Association). This class-
ification is permissible under the examiner's order es�ablishing account
classifica.tions for Villages.
A complete budgetary system of accounts is maintained for those
funds where governmental budgetary principles are applicable and, in
addition, the-Village maintains a performance cost accounting system which
provides invalu�.ble information concerning projects and activities carried I
out by the Village�
Internal Controls and Safeguards
The Vi.11age maintains a well integrated system of internal check and
controlK The usual separation of activities from record keeping and from
custodianship of funds, necessary for adequate control, is carefully
maintained and supplemented by satisfactory internal audit techniques.
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Village of Brooklyn Center
Audit Year 1962
GENERAL COMMENT S
Adda�ional Reports Submitted
A separate supplementary report covering the exarnination of records and
accounts of the Vil.la e has been prepared and directed to the Couneil under
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separate cover. This report is not a financial report but contains observations
of the auditor relating to matters of a financial nature. It is designed to a5sist
the governing body of the Village in the adminiatration o£ Village affairs and�
nothing contained therein,is rnaterially relevant to this audit repoxt.
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Village of Brooklyn Center
'LISTING OF VILLAGE OFFICII�LS
Dec�;mber 31, 1962
Term af Office Term Expi,res
Village Council (�iec�ed)
Mayor Gordon Ms Erickson Two y�ars 12-31 �63
Village Clerk Henry A. Dorff Two Years 12-37 -62
Trustee Howard W.-Hecl� Three Years 12-31-63
Trustee Car1 G. Carlson Three Years I2-31-62
Tx°us`tee John W. Leary Three Years 12-3I -64
Other Elected Officials
Justice of Peace Raymond Benson One Year 12-31 -62
Justice of Peace John WiMgard Two Years 12-31 -62
Village Treasurer Theodor:e L. Willard Two Years 12-3I �63
Village Assessor John Nordberg Two Years 12-3I-62
Officials Not Elected
Village Administrator A. J. Lee
Administrative Assistant Al1en S. Lindman
Department Heads
Finance R. T. Bullock
Engineering Donald G. Poss
Police Thomas G. O'hehir
Fire Carl Anderson
Protective Inspection Donald 5tark
Givil Defense Don LeTourneau
`Public Utilities Fr�.nk Smith, Jr.
Streets and Highways Henry Davis
Liquor Stores Truman Nelson
Farks and Recreation Eugene f3agel
Health Officer Rs I. Shragg, Me D. Fire'Marshal-Irvin Mill�r
Park Board
Paul Bullen, Chairman
`Francis Irvin
Da11as Lawrence
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Note 1
Combined
Explanation T otal
Assets and Resources
Cash on hand and in depositories 866, 127
Temporary investments 1, 255, 356
Due from other funds 152, 934
Accounts receivable 86 99$
Accrued revenue 40, 802
Cash held by County Treasurer's office 12, 272
Taxes receivable 4net� 10, 042
Special assessment fund receivables 4, 411, 510
Cash held by paying agents for debt and interest 847� 893
Tnventories and supplies 102 503
Tnvestment inventories 840, 000
Prepaid expenses 2, 518
Fixed assets (net af depreciation where applicable} 1A, 593, 708
Unassessed construction 566, 286
Amount available general debt and interest 18, �97
Amount to be provided general debt and interest ?07, 970
Totals $20, 515, 016 i
Liabilitie s
Vouchers and accounts payable 78, 150
Contracts payable 136, 314
Assessments payable 142, 356
Accrued expenses 36, 653 t
Due to other funds 152, 934
Construction loans payable 690 000
Bonds and interest not redeemed from paying agents 840, 169 j
Customer and contractor deposits 103 359
Bonds and certificates payable 5, 347, 400
Due funds participating in investment trust 1, 255„ 356
Interest payable in future periods �general debt� 146, 483
Total Liabilities 8, 929, 174
Surplus, Reserves and Fund Balances
Surplus and surplus reserves set aside 646, 935
Contributed surplus 6 612, 190
Investment in fixed assets �general} 4, 031, 886
Unexpended appropriations, authorizations and balances 294, 831
Total Surplus, Reserves and Fund Balances $11, 585, 842
Totals $20, 515, 016
Village of Brooklyn Center Exhibit I
COMBINED BALANCE SHEET -ALL FUNDS A1VD GROUPS �CONDENSED FORM}
December 31, 1962
Special Debt Special Public General Debt
General Revenue Service Assessment Liquor Utilities Agency Investment General and
Fund Funds Funds Funds Fund Fund Funds Trust Fund Fixed Assets Interest
71, 787 47, 980 22, 253 160, 578 80, 026 45, 612 23, 456 414, 435
12, 486 l 561 I, 038, 065 20, 082 183, 162
60, 202 60 32 92, 485 134 21
996 118 32, 161 98 46 653 6, 972
6, 876 19, 641 14, 285
4, 472 277 2, 483 4, 856 184
6, 699 1, 158 1, 268 84 833
4, 411, 510
839, 489 8, 404
10, 276 89, 352 2, 875
840, 000
1, 532 986
34, 146 6, 527, 676 $4, 03I, 886
566, 286
18, 097
?07, 970
$166, 918 49, 593 27, 597 $7, 152, 39� $233, 640 $6, 826, 739 31, 466 $1, 268, 720
$4, 031, 886 $726, 067
9, 925 1, 326 27, 825 22, 160 16, 914
88, 486 47, 828
142, 356
f 341 705 16, 867 7, 021 4, 719
4, 111 36, 340 9, 500 66 267 3, 818 32, 898
690, 000
I 839, 489 680
89, 995 13, 364
4, 828, 000 130, 000 389, 400
l, 255, 356
146, 483
21, 377 38, 371 9, 500 $6, 556, 934 $163, 679 144, 526 $1, 268, 720 $726, 067
$145, 541 11, 222 350, 188 69, 96� 70, 023
6 612, 190
$4, 031, 886
18, 097 245, 268 31, 466
$145, 541 11, 222 18, 097 595, 456 69, 961 $6, 682, 213 31, 466 $4, 031, 886
$166, 91g 49, 593 27, 59? $7, 152, 390 $233p 640 $6 826, 739 3I, 4b6 $1, 268, 720 $4, 031, 886 $726, 067
(See accompanying notes to financial statements�
This statement is an integral part of report dated May 7, 1963
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Exhibit 2
Village of Brooklyn Center
General Fund
BALANCE SHEET
December 31, 1962
ASSETS
Assets
Cash on hand and in depositories 71, 787
Temporary investments 12, 486
Returned checks on hand 26
Accounts receivable 970
Due from other funds 60, 202
Cash held by County Treasurer's office 4, 472
Taxes receivable:
Real estate and personal property taxes:
Levied during 1961, collectible in 1962 4, 108
Prior years' levies 2, 591 6, 699
Inventories of supplies:
Material� and supplies 5, 207
Small tools 5, 069 10 276
Totals $166, 91.8
LIABILITIES, R�SERVES AND SURFLUS
Liabilitie s
Vouchers payable 9, 925
Accrued payroll 7, 313
Accrued expenses 28
Due to other funds 4, 111
Total Liabilities �1, 377
Sur plus
Surplus reserves:
Reserve for 1962 budget encumbrances 826
Reserve for imprest cash and inventories 11, 464
Total Surplus Reserved 12, 290
Unappropriated surplus (Exhibit 3) 133, 251
Total Surplus 145, 541
Totals $166, 918
S �See notes to financial statements)
This statement is an integral part of report dated _Ivlay 7, 1963.
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Exhibit 3
Village of Brooklyn Center
General�Fund
ANALYSIS OF CHANGES IN UNAPFROPRIATED SITRPLUS
December 31, 1962
A ctual
Budget Over (Under)
A ctual E stimate Estixnate
Unappropriated Surplus January 1, 1962 $144, 816 $144, 816
Add: Revenue (Exhibit 4) 581, 453 566, 140 $15, 313
Reductions to reserves for assets
set aside for particular uses 12, 433 12, 433
Total Balance and Additions $738, 702 $710 956 $27 7�6
Deduct:
Expenditures (Exhibit 5) $604, 625 $619, 873 ($15, 248)
Encumbrances (Exhibit 5) 826 826
Total Deductions $605, 451 $619, 873 ($14, 422)
Unappropria.ted Surplus-December 31, 1962 $133, 251 91, 083 $42, 168
(See notes to financial statements)
This statement is an integral part of report dated May 7, 1963.
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Exhibi� 4
Village of Brooklyn Center
General Fund
STATEMENT OF REVENUE-ESTIMAT�D AND AGTUAL
Year 1962
A ctual
Budget Over(Under)
Actual Estimate Estimate
T axe s
Real estate and personal property $294 168 $294 260 92)
Penalties and interest on delinquent taxes 3, 178 3, 178
Total Taxes $297, 346 $294, 260 3, 086
Licenses, Permits and Fines
Fanes 27, 974
Building permits 9, 948
Heating permits 5, 115
Electrical permits 4, 970
Plumbing permits 4, 366
Sewage and water permits 3, 295
Dog licenses and pound fees 2 289
Bicycle licenses l, 587
Electrical licenses l, 065
Certificates of occupancy 919
Plumbing licenses 883
i Heating licenses 685
Cigarette licenses 540
Gas piping, licenses 355
House moving licenses 350
Service station licenses 334
Bowling alley licenses 317
Zoning charges and special permits 299
Well driliers licenses 235
Cesspool cleaning permits 228
Malt offsale licenses 1$0
W ell permits i 55
Garbage an.d rubbish hauling licenses 140
Water softener permits 124
Cesspool cleaners and installers licenses 121
Taxicab licenses 80
Benc�a licenses 84
Vending tx°uck licenses 75
Miscellaneous licenses 70
Total Licenses, Permits and Fines 66 1 H3 vO 000 6, 783
Revenue From Other Agencies
Share state cigarette and liquor taxes 70, 632 72, 000 1, 368)
State aid for streets 15, 675 17, 000 1, 325)
Mortgage registxy taxes 5, 582 5, 582
Total Revenue From Othex A�encies 91, 889 $$9, 000 2, 889
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I Exl3ibit 4
C ont' d
Village of Brooklyn Center
General Fund
STATEMENT OF REVENUE-ESTIIvIAT�D AND ACTUAL
Year 1962
A ctual
Budget Over (Under)
Actual Estimate Estimate
Charges for Current Services
Recreation (tx°ansportation,
registration, etc) 6, 990 5, 000 1, 990
Assessment searches and map sales 872 872
Platting fees 315 315
Work order charges to outsiders 244 z44
Total Charges for Current Services 8, 421 5, 000 3, 421
Charges to Other Governmental Units
Engineering fees 31, 719 45, 400 ($13, 681)
Rent and administrative charge-
Public Utilities 8, 280 8, 280
Wox°k order charges 6, 325 6, 325
Clerical fees 4, 914 6, 800 1, 886
Mileage reimbursements 1, 914 l, 914
Expens e r eimbur s ements Liquor Fund 1, 160 1, 16 Q
Total Charges to Other
Governmental Units 54, 312 60, 480 6, 168)
Other
Interest on temporary investments 3, 916
Right of way settlements-Minnesota
Highwa,y Department 2, 018
Rent-Minnesota Highway Department 643
Hall rental 262
Forfeited contractor deposits 200
Ice control at Brookdale 146
Plzotostats of accident reports 135
Refund of prior year expenses 117
Bicycle auction 103
Miscellaneous (sale of supplies, charges for
police service, civil def�nse refunds, etc. 162
Total Other 7, 702 2, 400 5, 302
Transfers In
Municipal Liquor Fund 55, 000 55, 000 $-0-
Total Revenue $58I, 453 $566, 140 $15, 313
(See notes to financial statements)
This statement is an integral part of report dated lulay 7, 1963.
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Exhibit 5
Village of Brooklyn Center
General Fund
STATEMENT OF EXPENDITURES, APPROPRIATIONS AND ENCUMBRANCE5
Y.ear 1962
Expenditures and Encumbrances
December 31, (Over Expended`}
1962 Budget 1962 1962 Under Expended
Appropriation Expenditure s Encumbrance s Appropriations
General Government
Mayor, Council and Treasurer 14, 315 10, 788 25 3, 502
Elections and voter registration 10, 505 10, 121 384
Municipal Court 26 26�
Finance Municipal Clerk 70 252 69 207 23 1, 022
Assessor 8, 800 8, 298 502
Accounting and internal audit 17, 931 17, 615 316
Independent accounting and audit 4, 500 4, 775 275�
Legal 6, 000 5, 790 210
General government buildings 25 000 25, 960 16 4 976�
j Total General Government $157, 303 $152, 580 64 4, 659
Public Safety and Welfare
Police protection $123, 321 $128, 622 5, 301�
Fire protection 17, 006 16 715 $700 409�
Protective inspection 38, 635 30, 919 7, 716
Civil defense 4, 854 1, 932 2, 922
Animal control 2, 500 3, 202 ?02�
Nursing services 6, 100 6, 089 11
Total Public Safety and Welfare $192, 416 $187, 479 $700 4, 237
Highways
Engineering 59, 563 54, 035 25 5, 503
Streets and equipment maintenance shop 154, 456 154, 574 17 135�
Street lighting 25, 000 23, 220 I, 780
Total Highways $239, 019 $231, 829 42 7, 148
Recreation
Supervision of recreation 8, 125 8, 362 237�
Adult programs 1, 900 3, 198 1, 298�
Summer playgrounds 8, 020 8, 287 267�
Summer sports and programs 8, 040 7, 809 231
Fall and winter sports 5, 050 5, 08I 20 51 r
Total Recreation 31,� 135 32, 737 20 1, 622}
Grand Total $619, 873 $604, 625 $826 $I4, 422
i �See notes to financial statements)
This statement is an integral part of report dated May 1963.
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Exhibit E
Village of Brooklyn Center
General Fund
STATEMENT OF EXPENDITURES AND ENCUMBRANCES
CLASSIFIED AS TO ACTIVITY, CHARACTER AND OBJECT
Year 1962
Total
Encumbrances Total Cuxrent Expense Classification Total
and Current Personal Contractual Capital Outlay Capital Expenditures Classification
Expenditures Expense Services Services Commodities Other Expenditures Land Buildings Equipment
General Government
Mayor, Council and Treasurer 10, 813 10, 813 10, 270 543
Elections and voter registration 10, 121 10, 121 1, 884 6, 267 1, 970
Municipal Court 26 26 26
Finance Municipal Clerk 69, 230 68, 944 41 968 12, 075 5, 198 9 9 ?03 286 2g6
Assessor 8, 298 8, 298 8, 298
Accounting and internal audit 17, 615 17, 615 17, 561 24 30
Tndependent accounting and audit 4, 775 4, 775 4, 775
Legal 5, 790 5, 79� 5, ?90
General government buildings 25 976 16, 480 7, ?18 5, 994 2, 768 9, 496 831 1, 665
Total General Government $152, 644 $142, 862 98, 264 $24, 336 8, 016 $12, 246 9, ?82 7, 831 1, 665 286
Public Safety and Welfare
Police protection $128, 622 $120, 993 $106, 598 623 8, 148 5, 624 7, 629 7, 629
Fire protection 17, 415 12, 992 9 101 1, 725 1, 724 442 4, 423 4, 423
Protective inspection 30, 919 30, 919 29, 250 1, 579 90
Civil defense 1, 932 1, 932 1, 233 447 252
Animal control 3, 202 3, 202 3, 202
Nursing services 6, 089 6, 089 6, 089
Total Public 5afety and Welfare $188, I79 $176, 127 $155, 473 4, 374 $I0, 124 6, 156 $I2„ 052 $12, 052
Highways
Engineering 54, 060 53, 660 51, 835 155 1, 642 28 400 400
Street and equipment maintenance shop 154, 591 140, 911 88, 063 2, 039 48, 526 2, 283 13, 680 13, 680
5treet lighting 23, 220 23, 220 23, 220
Total Highways $231, 871 $217, 791 $139, 898 $25, 414 $50, 168 2, 311 $14, 080 $14, 080
t Recreation
Supervision �f recreation 8, 362 8, 362 7, 549 476
Adult programs 3, 198 3, 198 2, 587 6�11 36 i
Summer playgrounds 8, 287 8, 287 7, 569 718
Summer sports and programs 7, 809 7, 809 7, OI4 795
Fall and winter sports 5, 101 5, 101 5, 046 55
Total Recr.eation 32, 757 32, 757 29, 765 476 2, 480 36
Grand Total $605, 451 $569, 537 $423, 400 $54, 600 $70, 788 $20, 749 $35, 914 7, 831 l, 665 $26, 418
�See notes to financial statements�
This statement is an integral part of report dated May 7, 1963.
16
Exhibit 7
Village of Brooklyn Center
Special Revenue Funds
CQMBINED BALANCE SHEET
December 31, 1962
I
Combined Park Board Foor
Total Fund Fund
ASSETS
Assets
Cash on hand and in depositories $47, 980 $37, 556 $10, 424
Accounts receivable 118 118
Due from other funds 6o bo
Cash held by County Treasurer's office 277 196 81
Taxes receivable:
Real estate and personal property taxes
Levied during 1961 collectible 1962 953 673 280
Prior years' lev�es 205 149 56
Totals $49, 593 $38, 752 $10, 841
LIABILITIES, RESERVES AND SURPLUS
Liabilitie s
Vouchers a able 1 326 125 1 201
P Y
Accrued expenses 705 705
Due to other funds 36, 340 36, 328 12
Total Liabilities $38, 371 $37, 158 1, 213
Surplus
Reserve for 1962 budget encumbrances 6 6
Unappropriated surplus (Exhibit 8) 11, 216 1, 588 9 E�2$
Totals $49, 593 $38, 752 $10, 841
I
(See notes to financial statements)
This statement is an integral part of report dated May 7, 1963.
17
Exhibit 8
Village of Brooklyn Center
Special Revenue Funds
COM$INED ANALYSIS OF CHANGES IN UNAPPROPRIATED SURPLUS
Year 1962
Combined Park Board Poor
Total Fund F'und
Unappropriated 5urplus, January l, 1962 $10, 236 9, 444 792
A dd:
Revenue (Exhibits 9 and 12) 90, 882 70, 531 20, 351
Deduct:
Expenditux°es and encumbrances
(Exhibits 10 and 12) 89, 902 78, 387 1 l, 515)
Unappropriated Surplus December 31, 1962 $11, 216 1, 588 9, 628
(See notes to financial statements)
This statement is an integral part of report dated May 7, 1963.
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L
Exhibit 9
Village of Brooklyn Center
Park Board Fund (A Speci.al Revenue Fund)
STATEMENT OF REVENUE-ESTIMATED AND ACTUAL
Year 1962
Actual
Budget Over(Under)
Actual Estimate Estimate
General property tax special
ad valorem levy $48, 172 $48, 158 14
Rents 2, 092 2, 820 728)
Concessions 2, 125 2,125
Contributions 3 69 3 69
Transfers frorn liquor funds 17, 600 17, 600
Refunds prior year charges and other 173 173
Total Revenues $70, 531 $68, 578 l, 953
See notes to financial statements
1
This statement is an integral part of report dated May 7 1963
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19
Exhibit 10
Village of Brooklyn Center
Park Board Fund �A Special Revenue Fund}
STATEMENT OF EXPENDITURES, APPROPRIATIONS AND ENCUMBRANCES
Year 1962
Expenditures and Encumbrances (Over Expended�
1.962 Budget 1962 1962 Under Expended
Function Appropriation Expenditures Encumbrances Appropriations
General park administration $41, 752 $41, 548 204
General park maintenance 7, 200 11 209 6 4, 009p
Park garage 650 719 69}
Special facilities
Orchard Park �formerly Donnay Park� 12, 635 9, 1 S1 3, 454
Willow Lane Park 3, 200 2, 188 1, 012
Grandview Park �formerly Triangle Park� 1, 350 7, 025 5, 675)
Bellvue Park �formerly Southeast Park� 725 796 71)
Kylawn Park �formerly Poplar Lane Park} 635 54 581
Northport Park 350 4, 406 4, 056�
Garden City Park 300 246 54
Happy Hollow Park �formerly Rice Park� 200 986 786}
Wangstad Park 50 11 39
Evergreen Park �formerly Northeast Park� 35 12 23
Total $69, 082 $78, 381 6 9, 299}
�See notes to financial statements}
This staternent is an integral part of report dated May 7 1963
-20-
Exhibit 11
Village of Brooklyn Center
Park Board Fund �A Special Revenue Fundp
STATEMENT OF EXPENDTTURES AND ENCUMBRANCES
CLASSIFIED AS TO ACTIVITY, CHARAC i ER AND OBJECT
Year 1962
Total
Encumbrances Total Current Expense Classification Total Capital Outlay Classification
and Current Personal Contractual Capital Outlay Land
Expenditures Expense Services Services Commodities Other Expenditures Improvements Buildings Equipment
A ctivity
General park administration $41, 548 $34, 533 $32, 571 532 425 I, 005 7, 015 6, 210 805
General park maintenance 11, 215 3, 733 3, 174 559 7, 482 1, 241 6, 241
Park garage 719 719 681 38
Special facilities:
Orchard Park 9; 181 42 42 9, 139 8, 861 278
Willow Lane Park 2, 188 139 140 I� 2, 049 2, 049
Grandview Park 7, 025 614 586 28 6, 411 2, 963 2, 655 793
Bellvue Park 796 122 50 72 674 674
Kylawn Park 54 54 43 11
Northport Park 4, 406 396 172 224 4, O10 3, 809 100 101
Garden City Park 246 146 l 16 30 100 100
Happy Hollow Park 986 127 118 9 859 859
Wangstad Park 11 11 11
Evergreen Park 12 12 12 12
Total $78 387 $40, 648 $32, 571 2 492 4, 021 1, 564 $37, 739 $25 992 2, 855 8, 892
�5ee notes to financial statements�
This statement is an integral part of report dated May 7, 1963
21
Exhibit 1 Z
I, Village of Braoklyn Center
Poor Fund (A Special Revenue Fund)
STATEMENT OF' REVENUE AND EXPENDITURES
Year 1962
Revenue
General property tax special ad valorem levy $2�, 043
Relief grants 308
Total Revenue $20, 351
Expenditur e s
Subsistenc-e care and support payinents 9, 502
1 Professional and consultants' fees 2, 013
Total Expenditures $11, 515
Excess of Revenue Over Ex enditures 8 836
P
(See notes to financial statements)
This statement is an integral part of r�port dated May 7 1963
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22
Exhibi� 13
Village of Brooklyn Center
Bond Funds
COMBINED STATEMENT OF REVENUE AND EXP�NDITURES
Year 1962
Park Cert. of
CombinEd Bond Indebt. #7
Total Fund Fund
Revenue
1 Total Revenue of Year 19b2 -0- -0- $-0-
Expenditur e s
I Purchase of Peter Pirsch Model 64A
Fire Tru�k $21, 447 $21, 447
Expenditures for park development:
Evergreen Park 4, ?61 4; 761
Grandview Park 331 331
Unused autharizations transferred to
debt service fund 3 3
Total Expenditures of Year 1962 $26 542 5, 092 $21, 450
(See notes to financial statements)
This statement is an integral part of report dated-May 7, 1963.
23
Exhibit 14
t Village of Brooklyn Center
Bond Funds
COMBINED STATEMENT
OF EXPENDITURES COMPARED WITH APPROPRIATIONS
December 31, 1962
Park Gert. of
Combined Bond Indebte #7
Total Fund Fund
Amounts appropriated for the acquisition
of equipment, and park property and
development:
Reserve for Authorized Expenditures
1 a From sale of general obligation
bonds and ceptificates $438, 000 $400, 000 3�, 000
2� Contributions from Osseo school
district to cover share of grading
at Willow Lane Park 2, 5Q0 2, 500
3, Interest earned from temporary
investments 1, 430 1, 377 53
Total Amount Appropriated $441, 930 $403, 87? 38, 053
Less: Expenditures for Authorized Purposes
Year 1958 $197, 463 $197, 463
Year 1959 111, 337 111, 337
Year 1960 62, 492 62, 492
Year 1961 44, 096 27 493 16, 603
Year 1962 (See Exhibit 13) 26, 542 5, 09z 2]:, 450
Total Expenditures $441, 930 $403, 877 38, 053
Reserve for Authorized' Expenditures
December 31, 1962 None None None
(See notes to financial statements)
This statement is an integral part of report datec� May 7 1963
-24-
L
Exhibit 15
Villa e of Brookl n Center
g Y
Debt Service Funds
COMBINED BALANCE SHEET
December 31, 1962
Redemption Funds
Certificates State Loan
Combined Park of (Cash Basis
Assets Tota,l Bonds Indebtedness Fund)
Cash on hand and in depositories $22, 253 $15, 554 699
Temporary investrr�ents 1, 561 �14 947
Due from other funds 32 16 1�
Cash held by Gounty Treasurer's
office 2, 4�3 15? 98 2, 228
Taxes receivable:
Real estat'e and personal propex°ty:
Levied 1961 collectible 1962 812 511 301
Prior years' levies 456 194 2�i2
Totals $27, 597 $17, 046 8, 323 2, 228
Liabilities and-Surplus
Liabilities
Due to other funds 9, 500 9, 500
Sur lus
P
Unappropriated surplus
(Exhibit 16) 1$, 097 7, 546 8, 323 2, 22�
Totals $27, 597 $17, Q46 8, 323 2, 228
j (See notes to financial statements)
This statement is an integral part of report dated _May 7, 1963e
25
Exhibit 16
Villa e of Brooklyn Center
g
Debt Service Funds
COMBINED STATEMENT
OF REVENUE, EXPENDITURES AND SURPLUS
Year 1962
Certificates State Laan
Combined Park Indebtedness (Cash Basis
Total Bonds Fund Fund)
Unappx°opriated Surplus, Jan� 1, 1962 $12, 312 5, 147 5, 869 1, 296
Add: Revenue
Balance from bond fund 3 3
General property tax levies 60, 534 36, 538 21 496 2, 500
Interest-temporary investments 1,OT 3 540 473
Total Balance and Additions 73, 862 $42, 225 $27, 841 3, 796
Deduct: Expenditures
Debt retirement $39, 300 $20, 000 $1�, 000 300
Interest expenses 16, 403 14, 617 1, 518 268
Service charges (paying agent) 62 62
Total Expenditures $55, 765 $34, 679 $19, 518 1, 568
Unappropriated' Surplus
Decembex° 31, 1962 $18, 097 7, 546 323 2, 228
r
(See notes to financial statements)
1 This statement is an integral part of report elated May 7, 1963s
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Combined
Totals
Assets All Funds
Cash on hand and in depositories 160, 578 t
Temporary investments 1� 038, 065
Accounts receivable 32, 161
Due from other funds 92, 485
�ash held by County Treasurer's office 4, 856
Taxes receivable �delinquent� 84
Assessments receivable.
Future year installments 4Principalp 3, 345, 369
1961 collectible in 1962 �Principal and interest} 35, 504
Delinquent �Principal and interest� 21, 188
From Park Board Fund �Principal-no interest char.ge� 86, 363
From Village General Fund �Principal-no interest charge� 55, 993
From University of Minnesota �Earl Brown properties� 380, 949
Tnterest applicable to 1962 on installments to be collected during 1963 6, 876
General Village share for future taxation �Principal only� 486, 144
Authorization to assess for construction in progress 566, 286
Cash held by paying agents for debt and interest 839, 489
Totals 7, 152, 39�
Liabilitie s
Vouchers payable 24, 817
Contracts payable 88, 486
Due to other funds 66, 267
Rebates due Northport school and contractors 3, 008
Accrued expenses �Interest and financing costs� 16, 867
Construction loans payable 690, 000
Bonds payable 4, 828, 000
Bonds and interest not redeemed �funds with paying agent�:
Bonds maturing January 1, 1963 392, 500
Bonds called January 1, 1963 300, 000
Interest coupons maturing January 1, 1963 130, 039
Premium on January 1, 1963 called bonds 9 000
Bonds and interest matured not redeemed `7, 950
Total Liabilities 6, 556, 934
Surplus and Appropriation Balances
Unappropriated surplus �deficit} for debt retirement 350, 188
Unexpended appropriations for construction 245, 268
Totals 7, 152, 390
{See notes to financial statements)
This statement is an integral part of report dated May 7, �g63
Village of Brooklyn Center
Exhibit 17
Special Assessment Funds
COMBINED BALANCE SHEET
December 31 1962
Note 2
Bond Fund 1955 A 1956 AC 1956 s 1957 AB 1958 A 1958 B 1959 AB 1960 AB 1961 AB
Number 1 Fund Fund Fund Fund Fund Fund Fund Fund Fund
10, 393 8, 833 26, 936 3, 703 13, 700 18, 658 1I, 096 15, I56 3, 463 48, 640
43, 485 I30, 457 395, 879 94, 595 122, 883 50, 908 149, 432 299 2, 275 47, 852
32, 161
6, 268 10 l, 349 l, 657 4p 139 45, 644 4, 837 28, 58I
205 430 1,356 318 208 125 35 592 969 618
84
130, 549 94, 008 279 963 70, 338 150, 972 306, 457 125, 118 337, 387 1, 005, 317 845, 260
578 827 1, 997 382 1, 050 3, 303 1, 131 868 19, 294 6, 074
390 894 2, 089 1, 172 I, 529 8, 217 272 353 6, 272
7, 202 12, 421 3, 020 14� 357 3, 775 32, 08I I3, 507
1, 713 460 901 486 15, 978 36, 455
62, 161 5I, 950 32, 222 219, I17 I5 499
121 8 234 6, 513
2, 705 4, 319 44, 585 15I, I48 203, 214 80, 173
566, 286
30, 003 26, I84 69, 841 54, 400 377, 259 38, 017 25, 430 47, 722 150 949 19, 684
$221, 871 $331, 090 $846, 486 $226, 565 $676, 653 $472, 724 $362, 260 $603, 438 $1, 664, 000 $I, 747, 303
49 61 24, 707
88, 486
42 300 1, 019 786 3, 521 60 599
l, 343 1, 665
16, 867
I 690, 000
178, 000 235, 000 685, 000 $150, 000 205, 000 $405, 000 3I Op 000 560� 000 1, 505, 000 595, 000
26, 500 21, 000 55, 000 50, 00�0 55 000 30, 000 20, 000 35, 000 100, 000
300, 000
I 3, 503 4 160 14, 246 4, 400 I 1, 979 8, 017 5, 430 12, 482 46, 138 19, 684
g, 000
I, 024 595 1, 280 240 4, 81 I
$208, 045 $261, 484 $757, 203 $204, 400 $582, 308 $443, 017 $336, 216 $609, 448 $1, 659, 470 $lp 495, 343
13p 826 69 606 89 283 22, 165 94, 345 29 707 26, 044 6, OIO� 14, 484} 25 706
19 OI4 226, 254
$221, 871 $331, 090 $846 486 $226, 565 $676 653 $472, ?24 $362 260 $603, 438 $I 664, 000 $I, 747, 303
27
Exhibit 18
1 Villa e of Brooklyn Center
g
Special Assessment Funds
i COMBINED STATEMENT OF REVENUE, EXPENDITURES
AND UNAPPROPRIATED SURPLU5 FOR DEBT RETIREMENT
Year 1962
1 Combined Note 2
Total Bond Fund 1955 A 1956 AC 1956 B 1957 AB 1958 A 1958 B 1959 AB 1960 AB 1961 AB
All Funds No. 1 Fund Fund Fund Fund Fund Fund Fund Fund Fund
Unappropriated Surplus �Deficit� January 1, 1962 $329, 651 $11, 617 $65, 494 $85, 551 $22, 338 $102 183 $21, 935 $23, 441 4, 151� l, 277 35}
Add: Revenue for 1962
Interest income on current levy $189, 608 7, 423 5, 494 $16, 652 4, 398 10, 637 $20, 448 8, 385 $23, 003 $64, 579 $28, 589
Last quarter of 1962 interest included in
1963 levy on new assessments 6, 876 123 8 234 6, 5I1
Income from temporary investments 50, 309 2, 003 4, 583 13, 693 4, 326 15, 042 2, 100 5, 027 253 1, 930 I, 352 I
Interest accrued on University of Minnesota
contract �Earl Brown properties� 17, 241 2, 703 2, 1 64 1, 399 10, 376 599
Excess of assessments over cost of projects
completed credited to debt retirement
purpo se s- 4, 745 4, 745
Total Revenue for 1962 $268, 779 9, 426 $12, 780 $32, 509 8, 724 25, 679 $23, 947 $13, 535 $23, 264 $77, 1 19 $41, 796
Deduct: Expenditures for 1962
Interest expense on bonded debt $236, 662 7, 005 8, 320 $28, 492 8 800 23, 958 $16, 035 $10, 860 $24 9b3 $92, 322 $15, 907
Premium pazd on called bonds 9, 000 9, 000
Paying agent charges 1, 561 79 47 140 85 515 78 52 106 410 49
r Roll processing charges to county 758 89 84 145 12 44 62 20 54 149 99
Adjustments to levies 261 44 217
Total Expenditures for 1962 $248, 242 7, 217 8, 668 $28, 777 8, 897 33, 517 $16, 175 $10, 932 $25 123 $92, 881 $16, 055
Unappropriated Surplus (Deficit) December 31, 1962 $350, 188 $13, 826 $69 606 $89 283 $22, 165 94, 345 $29, 707 $26, 044 6, 010� �$14, 484� $25, 706
(See notes to financial statements�
This statement is an integral part of report dated May 7, 1963
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Exhibit
Village of Brooklyn Center
Special Assessment Funds
STATEMENT OF
CONSTRU�TION' EXFENDITUR.ES COMPARED TO APPROPRIATTONS
Year 19b2
l
Combined
Total 19�0 AB 1961 AB
Al1 Funds Fund Fund
Original Appropriation
I At January 1, 1962 $3, 731, 04� $1, 814, 911 $1, 91.6, 133
Add: Appropriations for new pxojects
initiated during 1962 349, 593 349, 593
Total Appropriations $4, 0�0, 637 $1, $I4, 911 $2, 265, 726
Deduct; Expenditux°es for construction
During years prior to 1962 $3, 006, 308 $1, ?84, 778 $1, 221, 530
During 1962 551, 839 11, 119 540, 720
Total Expenditures for Construction $3, 558, I4? $1, 795, 897 $'I, 762, 250
Appropriation Balance 522, 490 9, 014 503, 476
Deduct> �xcess of original
appropriations over actual completed
project costs (actual cost assessed
and bala�ce remaining in appropriation
for project cancelled) 277, 222 277, 222
Unexpended Appropriation for Construction
December 31, 1962 245, 2�8 19, 014 226, 254
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(SEe notes to financial statements)
This statement is an integral part of report dated May 7 1963
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Village of Brooklyn Center Exhibit 20
Special Assessment Funds
STATEMENT OF LONG TERM DEBT �PRINCIPAL AMOUNT}
December 31, 1962
Bond
Redemption Balance Final Interest Rates on Bonds Outstanding
Year of Total Deposits to Unpaid Installment Regular Coupons Additional Coupons
Fund Is sue Is sue Paying Agt. 12 -31-62 Due Series Principal Rate Period Rate
Bond Fund No. 1 Storm Sewer 1 serial issue 1952 304, 000 160, 000 144, 000 1-1-72 $144, 000 3. 50%
Sanitary 5ewer 1 serial issue 1952 48, 000 28, 000 20, 000 1-1 -73 20, 000 3, 20
1953 A serial issue 1953 30, 000 29, 000 1, 000 1-1-64 1, 000 3. 25
1953 B serial issue 1953 55, 000 48, 000 7, 000 1-1-69 7 000 3. 30
1954 A serial issue 1954 37, 000 32, 000 5, 000 1-1-65 5, 000 3. 00
1954 C serial issue 1954 22, 500 21, 50Q 1, 000 1-1 -65 I, 000 2, 50
Total Bond Fund Number One 496, 500 3I8, 500 178, 000
1955 A Serial is sue 1955 497, 000 262, 000 235, 000 1-1 -76 235, 000 3. 25
1956 AC Serial issue 1956 A 1956 535, 000 180, 000 355, 000 1-1 -77 355, 000 3. 75
Serial issue 1956 C 1956 550, 000 220, 000 330, 000 1-1 -77 330, 000 3.90
1956 B Serial issue 1956 200, 000 200, 000 -0- 1-1 -62 3. 30
{Refunding� Serial issue 56 B 1960 200, 000 50, 000 150, 000 1-1-66 150, 000 3. 40
1957 AB Serial issue 1957 A 1957 430, 000 300, 000 130, 000 I-1-67 1960-64 30, 000 3. 34
1965-67 100, 000 4. 00
Serial issue 1957 B 1957 350, 000 275, 000 75, 000 1-1 -67 1961 -67 75, 000 4. 50
1958 A Serial issue 1958 530, 000 125, 000 405, 000 1-1 -79 1960-66 80, 000 3. 10
67-69 75, 000 3. 60
70-72 75, 000 3.90
73 -79 175, 000 4. 00
1958 B Serial issue 1958 390, 000 80, 000 310, 000 1-1-79 1960-68 $100, 000 3. 00
69-71 60, 000 3. 20
72-74 60, 000 3. 50
75-79 90, 000 3. 60
1959 AB Serial issue 1g59 AB 1960 630, 000 70, 000 560 000 1-1 -81 1960-65 70, 000 3. 75
66 -69 105, 000 4, 00
70-74 200, 000 4. 25
75 -81 185, 000 4. 50
1960 AB Serial issue 1960 A 1960 768, 000 9g, 000 670, 000 1-1 -81 1960-67 $190, 000 4. 50 1960-63 1. 50%
68-78 390, 000 4.20 1960-63 1. 50
79-81 90, 000 3, o0 1960-63 1. 50
Serial issue 1960 B 1961 885, 000 50, 000 835 000 1-1 -81 1961 $200, 000 3. 80 1962 1. 80%
68-70 140, 000 4, o0 1962-63 1. 80
71 -74 180, 000 4. 10 1962-63 1. 80
75-81 315, 000 4..20 1962-63 1. 80
1961 AB Serial issue 1961 A 1962 595, 000 -0- 595, 000 I-1-82 1964-69 $205, 000 3. 00 7(1 /62-7/1 /63 1. 50%
70-73 120, 000 3.40 7�1/62-7/1/63 1.50
74-7? 120, 000 3. 70 7/1 /62-7/1 /63 1. 50
78-82 150, 000 3e 75 7/1 /62-7 jl /63 1. 50
�See notes to financial statementsp $7, 056, 500 $2, 228, 500 �4, 828, 000
This statement is an integral part of report dated May 7, 1963.
-30-
Exhibit 21
Village of Brooklyn Center
Municipal Liquor Fund
BALANCE SHEET
December 31, 1962
ASSETS LIABILITIES AND SURPLUS
Current Assets Current Liabilities
Cash on hand and in depositories 80, 026 Accounts payable 22, 160
Tempoprary investments 20, 082 Bonds, coupons and call premiums �matured but not
Miscellaneous receivables 98 presented to the paying agent� 680
Merchandise inventory �valued at cost� 89, 352 Due to other funds 3, 818
Prepaid expenses 1, 532 Accrued PERA �Public Employees Retirement Association�
Cash on deposit with paying agents revenue certificate account contribution 3, 095
Note 3 8, 404 Accrued salaries and wages 1, 202
Accrued interest payable on revenue certificates 2, 724
Certificates payable portion due within one year (see below) 5, 000
Total Current Assets $199 494 Total Current Liabilities
38, 679
Fixed A s s ets Long T erm Liabilitie s
Provision
for Revenue certificates payable �Exhibit 25} $130, 000
Depreciation Book Less: Portion due within one year Cas above� 5, 000
Cost Amortization Value
Fixtures and Equipment Total Long Term Liabilities 125, 000
Lyndale Avenue store $11, 420 9, 762 1, 658
Osseo Road store 14, 053 5, 006 9, 047 Total Liabilities $163, 679
Brookdale store 10, 873 900 9, 973
Leasehold improvements Surplus
�Brookdale) 16, 162 2 b94 13, 468
$52, 508 $18, 362 Restricted per terms of resolution authorizing the
Total Book Value of Fixed Assets 34, 146 issuance of revenue certificates Note 3 18, 247
Undistributed surplus 51, ?14
Total Surplus 69 961
Total Assets $233, 640 Total Liabilities and Surplus $233 640 I
I
(See notes to financial statements�
This statement is an inte ral art of re ort dated Ma 7 1 63
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31
1 Exhibit 22
Village of $rooklyn Center
Municipal Liqupr Fund
ANALYSIS OF CHANGES IN SURPLUS
Year 1962
Surplus, January 1, 1962 6�, 497
I Add: Net income (Exhibit 24) 78, 064
1 Total Balance and Addi�ions $142, 561
Deduct: Transfers to other Funds
1 General. Fund $55, 000
Park Board Fund 17, 600 72, 600
Sux°plus, December 31, 1962 69, 961
(See notes to financial statements)
i
This statement is an integral part of report dated May 7, 1963e
32
Exhibit 23
Village of Brooklyn Center
Municipal Liquor Fund
STATEMENT OF INCOME ,AND EXPENSE
Year 1962
Combined #1 #2 #3
Total Lyndale Ave. Osseo Road Brookdale
All Stores Store Store Store
Sales $683, 395 $I89 990 $348, 580 $I44, 825
Deduct: Cost of inerchandise sold 523, 233 146, 754 269, 2II 107, 268
Gross Margin on Sales $160 162 43, 236 79, 369 37, 557
Less: Operating expenses requiring funds
Salaries and wages 52, 184 17, 176 2I, 622 I3, 386
Rent Note 4 7, 367 7, 367
Utilities and �eat 3, 644 1, 160 1, 500 984
Insurance 1,820 769 596 455
Supplies I 667 393 583 691
Public employees retirement fund 1, 213 518 527 168
Auditing 850 445 405
Repairs and maintenance 724 137 406 I81
Telephone 716 224 264 228
Protection service 641 150 216 275
Mileage 202 94 61 47
Inventory variance and adjustments I81 30 106 45
Laundry 171 105 36 30
Licenses and taxes 164 57 59 48
Miscellaneous 163 15 18 130
Breakage gl 23 33 35
Legal 55 55
Provision for bad checks {net of recoveries) 6 l OD 16
Cash {over) and short 18� 9) 20� 11
Total Operating Expenses Requiring Funds 7I, 84I 2I, 277 26, 428 24, 136
Net Operating Income Before Depreciation and Amortization 88, 32I 2I 959 52, 941 I3, 421
Less: Depreciation and amortization of leasehold improvements 6, 220 1, 061 I 566 3, 593
Net Operating Income 82, 101 20, 898 51, 375 9, 828
Add: Ynterest on temporary investments and check cashing fees 1, 430
Deduct: Interest and paying agent charges on revenue certificates 5, 467�
Net Income 78, 064 Explanation The operating results as reflected for
�See notes to financial statements) Store #3 {Brookdale) are for the period beginning
This statement is an integral part of report dated May 7, 1963. March 8, 1962 �date at which the new store opened}
through December 31, 1962,
33
Exhibit 24
Village of Brooklyn Center
Municipal Liquor Fund
STATEMENT OF LONG TERM DEBT
December 31, 1962
Interest Revenue Certificates Principal Revenue Certificates Interest Coupons
Certificate Coupon Outstanding Retired Outstanding Dates of Outstanding Retired Outstanding
Numbers Rate 1-1-62 1962 i 2-31-62 Maturity 1-I -62 1962 12-31 -62
6-10 5, 000 5, 000 -0- 1-1 -62 4, 005. 00 4, 005. 00 -0-
7-1 -62 2, 723. 75 2� 723s 75 -0-
11-16 4. 00% 5, 000 5, 000 1-1 -63 2, 723e 75 2, 723. 75
7-1 -63 2, 623. 75 2, 623. 75
17-28 4. 00 13, 000 I3, 000 1-1 -64 2, 623. 75 2, 623 75
7-1 -64 2, 363. 75 2p 363. 75
29-41 4. 00 13,`000 13, 000 1-1 -65 2� 363. 75 2, 363. 75
7-1-65 2, 103. 75 2, 103. 75
42-54 4. 25 13, 000 13, 000 1-1 -66 2� I03e 75 2, 103. 75
7-1 -66 1, 827. 50 I, 827. 50
55-67 4e 25 13, 000 13, 000 1-1 -67 1, 827. 50 1, 827. 50
7-1 -67 1, 551. 25 1 551. 25
68-80 4. 25 13, 000 13 000 1-1 -68 l, 551, 25 1, 551. 25
7-1 -68 1, 275. 00 1, 275. 00
81-95 4. 25 15, 000 15, 000 1-1 -69 1, 275. 00 1, 275. 00
7-1-69 956. 25 956. 25
96-110 4 25 15, 000 15, 000 1-I -70 956 25 956 25
7-1 -70 637. 50 637. 50
111 -125 4. 25 15, 000 15, 000 1-I I 637. 50 637. 50
7-1 -71 318. 75 318. 75
126-140 4. 25 15, 000 15, 000 1-1 -72 318. 75 318. 75
$135, 000 5, 000 $130, 000 $36, 767. 50 6, 728. 75 $30, 038, 75
i General Provisions of Issue
a. Obligations are payable solely from net operatians 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 January 1, 1968 are subject to redemption 4ca11} in inverse numerical order
fln January 1, 1965 or any interest payment date thereafter upon payment as followso
1 e If redeemed prior to January I, 1968 at par 4$1, 000� plus accrued interest, plus premium of $30. 00 on
each certificate redeemed.
2. If redeemed on or after January I, 1968 at par plus accrued intereste
da Pursuant to terms of the `resolution authorizing and directing issuance of certificates, certain �ovenants require a
restriction of surplus available for transfer and the periodic setting aside of funds to meet principal and
interest maturitiese
(See accompanying notes to financial statements�
This statement is an inte ral art of re ort dated Ma 7, 1963.
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I
Exhibit 25
Village of Brooklyn Center
Public Utilities Fund
BALANCE SH�ET
December 31, 1962
ASSETS LIABILTTIES
Current Assets Current Liabilities
Cash on hand and in depositories 45, 612 Vouchers payable 16, 914
Temporary investments 183, 162 Accrued PERA �Public Employees Retirement Association} 3, 878
Accounts receivable Utility customer services 28, 952 Accrued salaries and wages 841
Accrued revenue receivable �estimated'unbilled salesp 19, 641 Due to other funds 32, 898
Accounts receivable (Other than utility services} 17, 701
Due from other funds 134
Inventory of stores and supplies 2, 875 Total Current Liabilities 54, 531
Prepaid expenses 986
Total Current Assets 299 063 Other Liabilities
Plant and Property Customers' meter deposits 89, 995
Water and sewer utility in service �Exhibit 29� $6, 835, 781 Total Liabilities 144, 526
Less: Provision for depreciation 4Exhibit 29} 308, 242
Contributions in Aid of Construction
Total Book Value of Plant and Property 6, 527, 539 Sewer Department $4; 341, 591
Water Department 2, 270, 599
Other Assets Total Contributed Surplus 6, 612, 190
Construction in progress 137 Earned Surplus �Deficitj �Exhibit 26�
Sewer Department 4, 344�
Water Department 74, 367
Total Earned Surplus 70, 023
Total Assets $6, 826, 739 Total Liabilities and Surplus $6, 826, 739
{See notes to financial statements�
This statement is an inte ral art of re ort dated Ma 7, 1963
g P P Y
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35
Exhibit 26
Village of Brooklyn Center
Public Utilities Fund
STATE1v1ENT OF INCOME AND EARNED SURPLUS
Year 1962
Water Sewer Combined
Department Department Total
I,' Service to customers 95, �76 $120, 355 $215, 831
Sewer permits 4, 900 4, 900
Customer penalties 282 3, 91 1 4, 193
Interest earned on temporary
investments 2, 355 2, 355 4, 710
1 Other income 451 522 973
Gross Operating Revenues 98, 564 $132, 043 $230, 60?
Less: Operating Revenue Deductions
Operating expenses .(Exh. 27 and 28) 43, 209 $$9, 193 $132, 402
Depreciation 39 686 42 782 82, 468
Total Operating Revenue Deductions 82, 895 $131, 975 $214, 870
Net Income 15, 669 68 15, 737
Earned surplus (deficit)
January 1, 1962 58, 698 4, 412)
Earned Surplus (Deficit)
DecembEr 31, 1962 74, 367 4, 344)
(See notes to financial statements)
This staternent is an integral part of report dated May 7 1962
1
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-36-
Exhibit 27
Village of Brooklyn Center
Public Utilities Fund
WATER DEPARTMENT OPERATING EXPENSES
Year 1962
Sour c e of Supply
Power 5, 914
Purification supplies Z 769
Labor 2, 667
Pump repairs Z, 204
Supplies 511
Fuel heating 3 61
Materials 159
Sma1T tools 143
Operation and maintenance 109
Repairs to structures 27 $14, 864
Transmission
Labor 2, 340
Repairs to mains 931
Materials 592
Supplie s 52 I
Small tools 44
Equipment rental 29 3, 9g8
A dministr ation
Salaries and wages $11, 176
Rent and administration(to Village of Brooklyn
Center) 4, 140
Mileage l, 084
Provision for `Public Emplayees Retirement Fund 1, 062
Insurance 916
Consulting fees 405
Operation and maintenance of equipment 332
Water charge refunds 197
Supplie s 172
Fuel equipment 154
Printing 124
Small tools 95
Schools and conferences 37
Dues and subscriptions 30
Uncollectible accounts 23
Postage 22
Penalty refunds 7
Other 12 19,988
Customer Accounting and Collection
Salaries and wages 2, 888
Postage 997
Printing 437
Supplie s 33
Operation and maintenance of equipment 14 4, 369
Total Wa�er Department Operating Expenses $43, 209
(See notes to financial statements)
This statement is an integral part of report dated May 7 1963
37
r
Village of Brooklyn Center Exhibit 28
Fublic Utilities Fund
SEWER DEPARTMENT OPERATING EXPENSES
Year 1962
DisposalSource
Rent City of Minneapolis $55, 431
Rent Village of Crystal 2 949 $58, 380
1 Puxnping
Power 3, 119
Labor 3, 043
Repairs to lift stations 330
Fuel heating 109
Alarm system 80
Materials 78
Operation and maintenance of equipment 50
Supplies 49
Pump repairs 21
Small tools 20
Repairs to structures IO
Equipment rental 9 6, 918
Transmission
Labor 3,157
Materials 801
Repairs to mains 221
Equipment rental 16$
I Supplie s 140
Power 7 Y
Operation and maintenance of equipment 37
Small tools 33 4, 628
Administration
Salaraes and wages 7, 584
Rent and administration (to Village of Brooklyn Cente�) 4, 140
Consulting fees 1,205
Provision foar Public Employees Retirement Fund 1, 06�
Ivlil,eage 1, 048
Tnsurance 536
Operation and maintenance of equipment 349
Sewer charge refunds 171
Fuel equipment 154
P rintin g 124
Su.pplies 74
Schools and conferences 20
Postage 19
�efunds sewer penalties 19
Uncollectible accounts 14
Other 18 16, 537
Customer Accounting and Collection
Salaries and wages 2, 240
Postage 407
Frinting 36
Supplie s 3 3
Operation and maintenance of equipment 14 2� 730
Tota.1 Sewer Department Operating Expenses -$89, 193
(See notes to financial statementsj
This statement is an integral part of report dated May 7 1963
3 8
Exhibit 29
Village of Brooklyn Center
Public Utilities Fund
SUMMARY STATEMENT OF PLANT AND PROPERTY
AND PROVISION FOR DEPRECIATION
December 31, 1962
Assets Provisions for Depreciation
Balance Balance Balance Balance Depreciable
Assets 1-1 -62 Additions Ded'ns 12-31 -62 1-1 -62 Addition� Ded'ns 12-31 -62 Life
Water Department Assets
Mains and lines $1, 800, 758 93, 079 $1, 893, 837 49, 746 18 043 67, 789 I00 years
Structures 361, 232 891 362, 123 20, 344 l I, 449 31, ?93 30 years
Consumer meters in use 74, 657 9, 9�8 84, 565 9, 690 3, 733 13, 423 20 years
Equipment 131, 268 4, 424 I35, 692 13, 105 6, 461 19, 566 5, 10, 20 25 years
Total Water Department Assets $2, 367, 915 $148, 302 -0- $2, 476, 217 92, 885 39 686 $-0- $132, 571
Sewer Department Assets
Mains and lines $4, 255, 824 93, 711 $4, 349, 535 $130, 556 42p 261 $172 817 100 years
Equipment 5, 211 818 10, 029 2, 333 521 2, 854 10 years
Total Sewer Department Assets $4, 261, 035 98, 529 $-0- $4, 359, 564 $132, 889 42, 782 $-0- $175, 671
Total of Both Departments $6, 628, 950 $206, 831 $-0- $6, 835, 7$1 $225, 774 82, 468 $-0- $308, 242
(See notes to financial statements�
This statement is an integral part of report dated May 7 1963
39
Exhibit 30
Village of Brooklyn Center
Public Utilities Fund
SUMMARY OF
SOURCE OF FUNDS INVESTED IN PLANT AND PROPERTY
December 3I, 1962
Year 1962 T
Balance �See Balance
January 1, Explanation� December 31,
1962 Additions Adjustments 1962
Original Cost of Plant and Property �Exhibit �9� $6, 628, 950 $206, 831 $6, 835, 78I
I
Source of Funds Invested
Contributions in aid of construction received from special assessment
districts and contractors:
Water department assets $2, 199, 960 81, 724 I1, 085) $2, 270, 599
Sewer department assets 4, 249, 722 91, 869 4, 34I, 591
From operating funds of the public utility:
Water department assets 167, 955 26, 578 11, 085 205, 618
Sewer department assets 8, 970 6, 660 15, 630
Total Funds Invested b Source $6 626 607 $206, 831 -0- $6, 833, 438
Y
Add:
Adjustment for depreciation provisions applicable to years prior to 1957e
At the inception of the public utilities fund during 1957 assets were recorded
at original cost and depreciation applicable to prior periods was charged to
contributed surplus 2, 343 2, 343
Total as Above $6, 628, 950 $206, 831 -0- $6, 835, 78I
Explanation of Adjustment:
During the year 1962 the public utilities fund paid special assessment fund 19b0 AB �See notes to financial statements)
the amount of $11, 085e 43. The purpose of this payment was to pay up a portion of
water projects (water towers, etc. �not assessed to property owners and carried on This statement is an integral part of report dated May 7 1963
the records of the 1960 AB Fund as general Village share of project costs. Tn the
original instance all water projects constructed by this fund were capitalized and
transferred to the public utilities fund and credited ta contributed surplus. The
payment of $11, 085. 43 has been charged to contributed surplus and represents a
partial reimbursement by the public utility fund �from operating monies� to the
1960 AB Fund for water department assets constructed and transferred to the
public utility during previous years.
40
E�hibit 31
Village of Brooklyn Center
Agency'Funds
CQMBINED BALANCE SHEET
j Decernber 31, 1962
Agent for
i Fire Public
Department Employees
Coznbined Relief Retirernent
Total ASSOCiation Associat�on
Assets
Cash on hand and in banks $23, 456 35 $23, 421
Cash held by County Treasurer's office 184 84 100
i Due from other funds 21 11 10
Taxes receivable;
Levied in 1961 collectible in 1962 601 270 331
Prior years' tax levies 232 132 100
PERA contributions due from enterprise funds 6, 972 6 972
Totals �31 4fifi 532 �30 934
Fund Balance s
Fund balances (See Exhibit 32) $31, 466 532 $30, 934
Totals $31, 466 532 $30, 934
(See notes to financial statements)
This statement is an integral part of report dated May 7, 1963
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4.1
EXl�ibit 2
3
Village o£ Brooklyn Center
Agency Funds
COMBINED STATEMENT
OF REVENUE, EXPENDITURES AND FUND BALANCES
Year 1962
Agent for
Fire Public
Department Employees
Combined Rel,ief Retirement
Total Association` Association
Fund Balance, January l, 1962 $11, 474 473 $11, 001
Add: Revenue
Taxes levied 196I due 1962 $43, 030 19, 38Z 23, 648
Public employees retirement fund
contributions froxn enterprise funds:
Liquor stores 1, 213 1, 213
Public utility fund 2, 123 2, 123
Balance and Additions $57, 840 $19, 855 $37, 985
Deduct: Expenditures
Payments to principal of agEncy $26, 355 $19, 304 7, 051
WritE off 1956 tax levy balance 19 19
Total Expenditures $26, 374 $19, 323 7, 051
Fund Balance December 31, 1962 $31, 466 532 $30, 934
t (�ee notes to financial statements)
This statement is an integral part of report dated' May 7, 1963.
-42-
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Exhibit 33
I Village of Brooklyn Center
Investrnent Trust Fund
BALAN�E SHEET
December 31, 1962
ASSETS
Cash in depQSZtories 414, 435
Accrued interest receivable 14, Z85
Investments:
Face Value Cost Basis
United States government securities $100, 000 $100, 000
Brooklyn Center securities 50, 000 50, 000
Construction loans-1961 AB Fund 690, 000 690, 000
$840, 000
Total Investments 840, 000
Total s 1 268 720
A sets
LIABILITIES
Due to contractors (contract performance deposits) i3, 364
Due to participating funds:
Special assessment funds $1, 038, 065
Public Utilities fund 183, 162
Municipal liquor fund 20, 082
General fund 12, 486
Certificate of indebtedness fund 947
Park bond redemption fund 614
Total Due to Participatin� (See Exhibit 34) 1, 255 356
Total Liabilities $1, 268, 720
(See notes to financial statements)
This statement is an integral part of report dated May 7, 1963,
43
Exhibit 34
Village of Brooklyn Center
Investxnent Trust Fund
STATEMENT OF EARNINGS
Year 1962
Interest Income
Construction loans $30, 539
United States government securities 24, T57
Brooklyn Center securities 4, 630
Certificates of deposit 2, 124
Total In�erest Income $61, 450
Expens es
Audit 321
Net- Income Distributed to Parta.ci atin Funds 61 129
P g
(See Exhibit 35 for detail of income distribution)
Explanation:
The Invest�nent Trust Fund was established during 1956 to provide
for the investrnent of temporary surpluses of cash. Net income cf the
fund is distributed annually to each of the participating funds on the
basis of the average yearly investment maintained by each funde The net
inco�e and the effective rate of return on average investmen�t by
participating funds is shown below by years.
Rate of Net
Year Return Income
1962 3. 17% $61, 129
1961 3. 05 55, 939
1960 3. 62 57, 908
1959 3. 27 33, 494
1958 2e 62 14, 835
1957 3.12 9,938
1956 2. 77 1, 832
1 Total Distributed Earnings Since Inception of Fund $235, 075
(See notes to financial statements)
This statement is an integral part of report dated May 7, 1963.
_44_
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Exhibit 35
Village of Brooklyn Genter
Investment Trust Fund
CHANGES IN PARTICIPATING FUND BALAN�ES
Year 1962
Balance Net Fund Incoxne of Balance
January 1, Additions 1962 Deeember 31,
1962 (Withdrawals) Distributed 1962
Special Assessment Funds
1956 AC 402, 736 20, 550) $13, 693 395, 879
1958 B 143, 755 650 5, 027 149, 432
1955 A 133, 724 7, 850) 4, 583 130, 457
1g57 AB 460, 846 353, 005) 15, 042 122, 883
1956 B 127, 834 37, 565) 4, 326 94, 595
1958 A 40, 363 8, 445 2, 100 50, 908
1g61 AB 65, 087 18, 587) 1, 352 47, 852
t Bond Fund Number 1 51, 417 9, 935� 2, 003 43, 485
1960 AB 13, 745 13, 400) l, g30 2, 275
1959 AB 646 600) 253 299
Total Special Assessment
Funds $1, 440, 153 ($452, 397) $50, 309 $1, 03$, 065
Public Utilities Funds 138, 452 40, 000 4, 710 183, 162
Municipal Liquor Fund 78, 901 60 000) l, 181 20, 082
General Fund 8 370 200 3 916 12 486
Certificate of Indebtedness Fund 14, 984 14, 510D 473 947
Park Bond Redemption Fund 224 150) 5�0 614
Park Bond Fund 9, 377 9, 377) -0- -0-
Total Al1 Funds $1 690 461 ($496, 234) $61, 129 $1, 255, 356
(See notes to financial statements)
This statement is an integral part of report dated May 7, 1963
i
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45
Exhibit 36
Village of Brooklyn Center
SUMMARY STATEMENT OF GENERAL FIXED ASSETS
December 31, 1962
Relocations -Clas sifications
January 1, Year 1962 Year �962 Balance
Investment 1962 Acquisitions Disposals Additions Decrease Dec. 31, 1962
Land and land improvements 22, 878 8, 737 3I, 615
Buildings-Osseo Road and 63rd Avenue 100, 535 54 100, 589
Building-65th and Lyndale 84, 251 84, 251
Building-Municipal Hall 53, 226 1, 365 i, 505 53, 086
Other buildings 34 662 1 p 653 36, 315
Park properties {includes buildings)
Northport 101, 713 4, Ol2 105, 725
Grandview 76, 353 6, 830 83, 183
Willow Lane 52, 307 2, 049 54, 356
Bellvue 47, 228 779 48, 007
Garden City 33, 717 205 33, 922
Happy Hollow 31, 526 859 32, 385
Kylawn 26, 261 105 26, 366
Evergreen 19, 337 4, 761 24, �98
Orchard 6, 178 9, 092 15, 270
South Creek 5, 655 5, 655
Wangstad 63 63
Undistributed costs 15, 114 6, 183 21, 297
Equipment
Street and highway 185, 415 13, 237 1, 22? 3, 765 193, 660
Fire protection 58, 941 25, 760 120 84, 581
Recreation 12, 946 6, 241 3, 429 22, 616
Civil defense 10, 729 277 10, 452
Police 7, 986 9 396 4, 862 12, 520
Furniture and fixtures Note 5 33, 370 l, 877 1, 841 37, 088
Storm sewer and street projects 2, 443 969 470 817 2, 914, 786
Totals $3, 464, 360 $574, 012 6, 486 5, 270 5, 270 $4, 031, 886
Source of Investment
General indebtedness 551, 782 26, 559 250 578, 091
Ad valorem levies 272, 417 76 176 6, 236 342, 357
Liquor store revenues and certificates 188, 546 188, 546
Contributions received 7, 647 459 8, 106
Special assessment projects �storm sewers and streets�
Owners' and contractors' share 2, 399, 644 470, 818 2, 870, 462
Brooklyn Center 24, 324 24, 324
Hennepin County 20, 000 20, 000
Totals $3, 464, 360 $574, 012 6, 486 $4, 031, 886
�See notes to financial statements)
This statement is an integral part of report dated May 7, 1963
46
Exhibit 37
Village of Brooklyn Genter
SUMMARY STATEMENT
OF GENERAL LONG TERM DEBT A1VD INTEREST
December 31, 1962
Arnount Available And to be Provided
Amount Available in Debt Service Funds (See Exh. 16)
Park bond redemption fund 7, 546
Certificates of indebtedness redemption fund 8, 323
State loan fund 2, 228
General Fund levies Note 6
Park Board fund levies Note 6
Total Amount Available 18, 097
Amount to be Provided in Future Periods
For interest $146, 483
For principal 561,, 487
`Total Amount to be Provided 707, 970
Total Amount Available And to be Provided $726, 067
General Debt and Interest to be Paid in Future Periods
General Debt (Principal Portion)
Bonds and certificates:
Park acquisition bonds $355, 000
Certificates of indebtedness 25, 000
State loan certificates 9, 400 $389, 400
Contracts and special assessments;
Contract payable Voting machines Note 5 47, 828
Assessments on Village properties 142, 356 190, 184
Total General Debt (See Exhibit 38) �579, 584
Interest Pa able in Future Periods See Exhibit 38
Y
Bonds and certificates $137, 095
Contracts payable 9, 388
Assessments on Village and park properties None
Total Interest Payable in Future Periods (See Exhibit 38) 146, 483
Pe io s 726 067
Total General Debt and Interest to be Paid in Future r d
t See notes to financial statements)
This statement is an integral part of report dated May 7 1963
47
Village of Brooklyn Center Exhibit 38
SCHEDULE OF
OUTSTANDTNG GENERAL LONG TERM DEBT AND INTEREST
Decpmber 31 1962
General Debt 4Principal)
Assessments Tnterest Payable
Payment Park Certificates State on Park Certificates
due Total Acquisition of Loan Contracts Villa�e Property Total Acquisition of State Loan Contracts
During Principal Bonds Indebtedness Certificate Payable General Parks Interest Bonds Indebtedness Certificat,es Payable
1963 16, 481, 78 1, 300 00 6, 267. 40 1� 712, 97 7, 201. 41 g, 787e 26 6, 962. 50 437 50 235. 00 2, 152� 26
1964 49, 164. 79 20, 000. 00 $13, 000. 00 1, 300. 00 6, 267. 40 l 360. 90 7, 236. 49 16, 298. 97 13, 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 14, 854. 44 12, 886. 25 210. 00 170. 00 1, 588. 19
1966 37, 871. 28 20, 000. 00 1, 300, 00 6, 267. 40 3, 292. 00 7, 011. 88 13, 631. 15 12, 187. 50 137. 50 1, 306e 15
1967 37, 971, 29 20, 000. 00 1, 400. 00 b, 267. 40 3, 292. 00 7, 01 1. 89 12, 599e 12 11, 470, 00 105. 00 1 024 12
o
1968 39, 855. 40 20, 000, 00 1 00 6, 267.40 3 292. 00 8, 896. 00 l l 542. 09 10, 730. 00 70. 00 742. 09
1969 39, 858. 99 20, 000, 0o I, 400. 00 6, 267. 40 3, 295. 59 8, 896. 00 10, 468. 81 9, 973. 75 35. 00 460. 06
1970 38, 648. 12 20, 000. 00 2, 461. 00 7, 291, 12 8, 896. 00 9, 371, 77 9, 193. ?5 178, 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. 00 7 291. 12 13, 915. 07 7, 598. ?5 7, 598. 75
1973 27, 291, 12 20, 000. 00 7, 291, 12 6, 796. 25 6, 796.25
1974 27, 291. 12 20, 000. 00 7, 291. 12 5, g88. 75 5, 988. 75
1975 20, OOQ. 00 20, 000. 00 5, 175. 00 5, 175. 00 I
1976 20, 000. 00 20, 000. 00 4, 355e 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, 715. 00 2, 715. 00
1979 20, 000, 00 20, 000. o0 1 895� 00 1 8 5 00
9.
1980 20, 000. 00 20, 000. 00 l 075. 00 '1, 075. 00
1981 15, 000. �0 15, 000. 00 332e 50 332. 50
Tota.ls $579, 584. 07 355 000. 00 25 000. 00 9 400. 00 47 827 80 55 3 06 86 363 21 14b 48 1 8
9 99 p 3. 39 34, 45. 00 1, 295. 00 955s 00
9, 388. 39
(See notes to financial statements� This statement is an integral part of report dated May 7p 1963.
t 48
Village of Brooklyn Center
NOTES TO FINANCIAL 3TATEMENTS
Year 1962
r Note 1: The "Cambined Balance Sheet All Funds and Groups
(Condensed Form)", Exhibit 1, is presented as an information
statement only, The reader is instructed that the figures as
shown under the "Combined Total"' column represent a combining
of unlike purpose groups �funds) and can not be construed as
I,' indicative of the over-all financial position of the Village. The
financial position of each fund should be ascertained by reference
to the individual exhibits as submitted for that fund within this
report.
Note 2: (Special Assessment Funds)
Bond Fund Number 1 was established by Council resolution on
June 11, 1962 by combining Storm Sewer Number 1 Fund,
Sanitary Sewer Number 1 Fund, 1953 AB Fund, 1954 A Fund and
1954 C Fund into one common funde
The purpose of combining these funds was to f�,cilitate
accounting and tax distribution procedures and eliminate certain
probable inequities between the combined funds which were the
result of incorrect tax allocations during earlier years.
As of the effective date of consolidation (January 1, 1962) the
1953 AB fund had a recorded deficit of $5, 014e 53, and the remaining
funds ha,d recorded surpluses totalling $16, 631. 79e
The deficit of the 1953 AB Fund was offset against total surplu,s
of the other four funds and the resultant net surplus of $11, 617. 26,
together with all assets and liabilities of the individual funds, was
transferred to the newly established Bond: Fund Number One.
Note 3: (Munici al Li uor Fund
P �1.
Pursuant to terms of the resolution directing and authori.zing
the issuance of revenue certificates, certain restrictive covenants
have been enacted for the benefit of certifieate holders.
Paragraph.5c provides that at least quarterly the following year's
principal and interest be segregated and set aside in cash for benefit
of certificate holderse As of December 31, 1962, cash in the
amount of $7, 723. 75 (representing interest and prineipal falling due
on January l, 1963) had been transferred to the paying agent.
Paragraph 5d requires a restriction of surplus equal to the next
ensuing year°s principal and interest requirement. As of Dece 31, 1962
restricted surplus totalled $18, 247e 50 ($13, 000 principal due
January 1, 1964 and interest for the year 1963 in the amount of
$5, 247e 50).
49
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Village of Brooklyn Center
NOTES TO FINANCIAL STATEMENTS
Year 1962
Note 4: Munici al Li uor Fund)
P q
Store #1 (Lyndale Avenue Store) and Store (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 facilities
is fixed at $666e 67 per month. The rental for parking and mall
facilities is dependent upon the maintenanee and upkeep expend-
itures made by the landlord and is adjustable yearly.
Ncke 5: (Suznmary Statement of General Fixed Assets)
Contracts payable to the Rockwell Manufacturing Company for
rental/purchase of forty automatic voting machines at a total cost
of $62, 674s 00 plus future interest at 4 1/2% per annum provide
that the Village may choose to either rent or purchase these voting
machinese The Village, upon written notice, may return the
machines during anyyear with the provision that the n�xt installment
due after the date of returning the machines is paide The unpaid
principal as of December 31, 1962 on these contracts totals
$47, 827. 80 and the last scheduled payment is due in 1971.
The cost value of these voting machines ($62, 674. 00� is not
1 reflected in furniture and equipment as of December 31 1962
It is the intent of the Village to capitalize these assets xn the future
when and if title is accepted and the transaction is deemed a
purchase.
Note 6: (Summary Statement of General Long Term Debt and Tnterest)
Special assessments relating to impx°ovements benefitting
Village owned properties totalled $142, 356s 27 as of Decernber 31,
1962 The payment for these improvements, with no interest
1 charge, have been scheduled over a period extending through 1974.
These assessments are the obligation of the park board fund and
general fund and payment is planned under general budget procedures
whereby x°equired installments will be appropriated during the budget
years in which they becorne due. (See Exhibit 38).
-50-
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Village of Brooklyn Genter
NOTES TO FINANCIAL STATEMENTS
Year 1962
Note 7: The �irm of Lindquist, Fraser and Magnuson, attorneys for
the Village, was contacted as of May 14, 1963 concerning possible
contingent liabilities or pending lawsui.ts in which the Village is
involved. We were informed that the Villag� has appealed an
1 original award of $2, 081. 25 relating to condemnation of property
by the Village. Cross appeals have been filed in the amount
of $6, 500. 00 and the matter is cux°rently the subject of a
1 lawsuit s
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1
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1
1
1
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1
1
1
51