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Home My WebLink About04 - Investments AVIBIA Su mmar y Stat D ecem b er 2006 For more information, call MBIA Asset Management at (500 )395 -5505 Fax: (500 )765 -7600 4 A F UND Sponsmr�' b rbr J.�rrgire of U�n rrr,,,!r Cirr2l City of Brooklyn Center Account Number: MN -01 -0026 -0001 Account Name: GENERAL FUND Beginning Contributions Withdrawals Income Average Daily Month End Balance Earned Balance Balance This Month $2,106,769.98 $809,271.01 $675,611.06 $37,934.45 $9,047,586.97 $10,358,364.38 Fiscal YTD Ending 12/31/06 $11,786,607.58 $19,078 $20,796,423.73 $290,123.63 $6,366,573.16 $10,358,364.38 4h4 11us F W City of Brooklyn Center Account Number: MN - 0026 -2001 Account Name: CITY OF BROOKLYN CTR Beginning Contributions Withdrawals Income Average Daily Month End Balance Earned Balance Balance This Month $1603,385.02 $0.00 $0.00 $68,722.30 $16,038,833.03 $16,072,107.32 Fiscal YTD Ending 12/31/06 $15,333,493.18 $0.00 $0.00 $738,614.14 $15,685,533.78 $16,072,107.32 December 2006 Page: 1 AVIBIA For more information, call MBIA Asset Management at (500 )395 -5505 Fax: (500 )765 -7600 Total of all accounts Beginning Contributions Withdrawals Income Average Daily Month End Balance Earned Balance Balance This Month $18,110,155.00 $809,271.01 $675,611.06 $106,656.75 $25,086,420.00 $26,430,471.70 Fiscal YTD Ending $27,120,100.76 $19,078,056.90 $20,796,423.73 $1,028,737.77 $22,052,106.94 $26,430,471.70 December 2006 Page: 2 AVIBIA Stat D ecem b er 2006 For more information, call MBIA Asset Management at (500 )395 -5505 Fax: (500 )765 -7600 4 A F UND Sponsmr�' b rbr .rrgire of �'frrr,,,!r [�irr2 City of Brooklyn Center Account Number: MN - 01 - 0026 - 0001 Account Name: GENERAL FUND Checking Acct: Date Description Contributions and Withdrawals Balance Transaction Income Earned Number 12/01/06 Beginning Balance $2,106,769.98 12/01/06 Contribution $4,361.00 46571589 MN STATE FINANCE 12/01/06 Contribution $5,737,189.27 46571594 HENNEPIN COUNTY 12/01/06 Contribution $996,960.57 46571595 HENNEPIN CTN 12/04/06 Withdrawal $512.81 46616998 Plan # 800974 City of Brooklyn Center 12/04/06 Withdrawal $16,175.09 46617001 Plan # 300462 City of Brooklyn Center 12/08/06 Withdrawal $45000.00 46682643 cash to general checking 12/15/06 Withdrawal $15,474.10 46790698 Plan ## 300462 12/15/06 Withdrawal $6,215.37 46790699 Plan ## 800974 12/20/06 Contribution $17,733.32 46867545 MN STATE FINANCE 12/22/06 Contribution $1,438,396.63 46898691 12/27/06 Contribution $686,850.78 46974873 MN STATE FINANCE 12/27/06 Contribution $7,779.44 46974876 MN STATE FINANCE 12/28/06 Withdrawal $187,233.69 46790695 Inv. ## X060720307 City of Brooklyn Center Income Earned for the month $37,934.45 12/31/06 Ending Balance $10,358,364.38 December 2006 Page: 3 AVIBIA For more information, call MBIA Asset Management at (500 )395 -5505 Fax: (500 )765 -7600 4 A F UND Sponsmr�' b rbr J.�rrgire of U�n rrr,,,!r Cirr2l City of Brooklyn Center Account Number: MN - 01 - 0026 - 0001 Account Name: GENERAL FUND Checking Acct: Summary December 2006 Fiscal YTD Ending (12/31/06) Beginning Balance $2 $11 Contributions $5 $19 Withdrawals $675 $20 Income Earned $37 $290 Month End Balance $10 $10 Average Daily Rates 4.94% 4.61% Average Annualized Yield 5.06 4.72 December 2006 Page: 4 AVIBIA Statement December 2006 For more information, call MBIA Asset Management at (500 )395 -5505 Fax: (500 )765 -7600 4h4 " us F W City of Brooklyn Center Account Number: MN -01- 0026 -2001 Account Name: CITY OF BROOKLYN CTR Date Description Contributions and Withdrawals Balance Transaction Income Earned Number 12/01/06 Beginning Balance $16, 003, 385.02 Income Earned for the month $68,722.30 12/31/06 Ending Balance $16, 072,107.32 Summary December 2006 Fiscal YTD Ending (12/31/06) Beginning Balance $16 $15 Contributions $0.00 $0.00 Withdrawals $0.00 $0.00 Income Earned $65 $735 Month End Balance $16 $16 Average Daily Rates 5.05% 4.71% Average Annualized Yield 5.18% 4.82% December 2006 Page: 5 AVIBIA Minnesota 4M Fund DaI*Iy Rates D ecem b er 2006 For more information, call MBIA Asset Management at (500 )395 -5505 Fax: (500 )765 -7600 R4 AF UND Sponsmr�' b rbr J.�rrgire of U�n rrr,,,!r Cirr2l Date Daily Rates Annual Yield 12/01/06 4.93 5.06 12/02/06 4.93 5.06 12/03/06 4.93 5.06 12/04/06 4.94 5.06 12/05/06 4.93 5.06 12/06/06 4.93 5.06 12/07/06 4.93 5.06 12/05/06 4.94 5.06 12/09/06 4.94 5.06 12/10/06 4.94% 5.06% 12/11/06 4.94 5.06 12/12/06 4.94 5.06 12/13/06 4.94 5.06 12/14/06 4.94 5.06 12/15/06 4.93 5.06 12/16/06 4.93 5.06 12/17/06 4.93 5.06 12/15/06 4.94 5.06 12/19/06 4.94 5.06 12/20/06 4.94% 5.06% 12/21/06 4.94 5.06 12/22/06 4.94 5.06 12/23/06 4.94 5.06 12/24/06 4.94% 5.06% 12/25/06 4.94% 5.06% 12/26/06 4.94% 5.06% 12/27/06 4,95% 5,07% 12/25/06 4.93 5.05 12/29/06 4.95 5.07 12/30/06 4.95 5.07 12/31/06 4.95 5.07 Average 4.94 5.06 Rates can vary over time. Past performance is no guarantee of future results. December 2006 Page: 6 AVIBIA Minnesota 4M Plus DaI*Iy Rates December 2006 For more information, call MBIA Asset Management at (500 )395 -5505 Fax: (500 )765 -7600 4h4 " us F w Date Daily Rates Annual Yield 12/01/06 5.04% 5.17% 12/02/06 5.04% 5.17% 12/03/06 5.04% 5.17% 12/04/06 5.05% 5.18 12/05/06 5.05% 5.18 12/06/06 5.05% 5.18 12/07/06 5.05% 5.18 12/05/06 5.05% 5.18 12/09/06 5.05% 5.18 12/10/06 5.05% 5.18 12/11/06 5.05% 5.18 12/12/06 5.04% 5.17% 12/13/06 5.04% 5.17% 12/14/06 5.05% 5.17% 12/15/06 5.05% 5.18 12/16/06 5.05% 5.18 12/17/06 5.05% 5.18 12/15/06 5.05% 5.17% 12/19/06 5.04% 5.17% 12/20/06 5.03% 5.16 12/21/06 5.04% 5.17% 12/22/06 5.05% 5.18 12/23/06 5.05 5.18 12/24/06 5.05% 5.18 12/25/06 5.05 5.18 12/26/06 5.05 5.18 12/27/06 5,04% 5,17% 12/25/06 5.05% 5.18% 12/29/06 5.05% 5.18% 12/30/06 5.05% 5.18% 12/31/06 5.05 5.18% Average 5.05% 5.18% Rates can vary over time. Past performance is no guarantee of future results. December 2006 Page: 7 AVIBIA Minnesota 4M Fund Holdings D ecem b er For more information, call MBIA Asset Management at (800)395 -5505 Fax: (800)765 -7600 R4 AF UND Sponsmr�' b rbr J.�rrgire of U�n rrr,,,!r Cirr2l Face Amount Maturity Date Yield /Rate Value BANKERS ACCEPTANCE $4 Bank of America 01/22/2007 5.27% $4 $4,532,000.00 TOTAL BANKERS ACCEPTANCE $4, 518, 118.59 FEDERAL HOME LOAN BANK NOTES $3 Federal Home Loan 05/15/2007 5.23% $2 Bank Notes $3, 000,000 . 00 TOTAL FEDERAL HOME LOAN BANK NOTES $2, 996,110. 72 FREDDIE MAC NOTES $4,500,000.00 FREDDIE MAC Notes 03/15/2007 5.14% $4 $5,000,000.00 FREDDIE MAC Notes 04/02/2007 5.43% $4 $9,500,000.00 TOTAL FREDDIE MAC NOTES $9, 4 71, 851.44 COMMERCIAL PAPER $10,000,000.00 Abbott Labs 03/27/2007 5.30% $9 December 2006 Page: 8 AVIBIA For more information, call MBIA Asset Management at (800)395 -5505 Fax: (800)765 -7600 COMMERCIAL PAPER $625,000.00 ING Funding 01/10/2007 5.30% $624 $500 HSBC FINANCE CRP 03/23/2007 5.31% $494 $3 GRAMPIAN FDG LLC 02/20/2007 5.32% $2 $3 General Electric 03/15/2007 5.28% $3,883,425.16 Capital Corp $3 Galaxy Funding 03/22/2007 5.33% $2 $2 Falcon Asset 01/22/2007 5.34% $1 Securitization $5 Falcon Asset 01/19/2007 5.29% $4 Securitization $4 Falcon Asset SEC 01/10/2007 5.51% $3 Corp $5 Ciesco LP 02/09/2007 5.30% $4 $7 PARK AVE REC 01/24/2007 5.31% $6 $2 PARK AVE REC 01/16/2007 5.30% $1 $4 Paccar Finance 03/01/2007 5.27% $4 $3,000,000.00 Paccar Finance 02/09/2007 5.30% $2,982,880.64 $8 NIEUW AMSTERDAM 01/29/2007 5.36% $8 $2 NIEUW AMSTERDAM 01/08/2007 5.30% $2 $10 New York Life 01/31/2007 5.27% $9 $3 Morgan Stanley Dean 06/18/2007 5.33% $2 Witter December 2006 Page: 9 AVIBIA For more information, call MBIA Asset Management at (800)395 -5505 Fax: (800)765 -7600 COMMERCIAL PAPER $6 Morgan Stanley dean 03/07/2007 5.31% $5 Witter $3 Yorktown Capital 01/09/2007 5.30% $3 $4 Windmill Funding 02/06/2007 5.31% $4 Corp $1 Variable Funding 01/18/2007 5.32% $1 $3 Toyota Motor Credit 01/30/2007 5.30% $2 Corp $3 Toyota Motor Credit 01/26/2007 5.29% $2 Corp $2 Three Pillars 01/08/2007 5.30% $2 Funding Corp. $1 Sysco Corporation 02/20/2007 5.29% $1 $3 Societe Generale 03/05/2007 5.29% $3 North America $6 Sheffield 01/18/2007 5.31% $6 Receivables $4 Sheffield 01/16/2007 5.39% $4 Receivables Co $8 Ranger Funding 02/06/2007 5.32% $7 $1,000,000.00 Ranger Funding 01/22/2007 5.33% $996,902.86 $1 Ranger Funding 01/12/2007 5.30% $998 $6 Private Export 04/05/2007 5.29% $6 Funding Corp December 2006 Page: 10 AVIBIA For more information, call MBIA Asset Management at (800)395 -5505 Fax: (800)765 -7600 COMMERCIAL PAPER $1 9 775 9 000.00 Private Export 02/13/2007 5.30% $1,763,842.93 Funding Corp $7 McCormick & Co 02/27/2007 5.26% $6 $5 Liberty Strout 03/23/2007 5.34% $5 Funding $5 Liberty Strout 01/23/2007 5.30% $5 Funding $5 Kitty Hawk Funding 01/17/2007 5.30% $4 Corp $1 Kitty Hawk Funding 01/10/2007 5.41% $1,097,515.24 Corp $2 ING Funding 03/12/2007 5.31% $2 $1 ING Funding 01/29/2007 5.35% $1 $4 ING Funding 01/12/2007 5.30% $4 $3 Ciosco LP 02/05/2007 5.31% $2 $2 Ciosco LP 01/18/2007 5.29% $1 $1 Ciosco LP 01/11/2007 5.31% $1 $10,000,000.00 Cargill Global Fund 02/05/2007 5.33% $9,948,434.26 PLC $10 CALYON NA INC 03/02/2007 5.29% $10 $6 Barton Capital Corp. 01/05/2007 5.29% $6 $3 Barton Capital Corp. 01/03/2007 5.30% $3 December 2006 Page: 11 AVIBIA For more information, call MBIA Asset Management at (500 )395 -5505 Fax: (500 )765 -7600 COMMERCIAL PAPER $9 Barclays Capital 01/04/2007 5.31% $8 Funding US $1 Fairway Finance 01/31/2007 5.31% $1 Corp. $6 Fairway Finance 01/11/2007 5.31% $6 Corp. $1 Fairway Finance 01/09/2007 5.30% $998 Corp. $7 Edison Asset 02/12/2007 5.37% $7 Securitization $1 Edison Asset 01/03/2007 5.26% $1 Securitization $5 Credit Suisse USA 02/12/2007 5.30% $4 $3 CitiGroup Funding 02/14/2007 5.32% $3 $2 CitiGroup Funding 01/24/2007 5.30% $1 $5 CitiGroup Funding 01/19/2007 5.29% $4 $3 AIR PRODUCTS & CHEM 01/03/2007 5.28% $3 $3 American General 01/16/2007 5.28% $3 Finance Corp. $2,800,000.00 Honda Finance 01/23/2007 5.27% $2,791,006.46 $10 Honda Finance 02/26/2007 5.28% $9 $2 Meridian Funding 01/12/2007 5.31% $1 Company December 2006 Page: 12 AVIBIA For more information, call MBIA Asset Management at (800)395 -5505 Fax: (800)765 -7600 COMMERCIAL PAPER $2,000,000.00 Meridian Funding 01/25/2007 5.33% $1 Company $8,000,000.00 Archer Daniels 01/25/2007 5.30% $7 $279,531,000.00 TOTAL CO1VMERCULPAPER $278, 040, 676.97 $296, 563, 000. 00 TOTAL INVESTMENTS $295, 026, 757. 72 December 2006 Page: 13 AVIBIA Minnesota 4M Plus Holdings December 2006 For more information, call MBIA Asset Management at (800)395 -5505 Fax: (800)765 -7600 4h4 Face Amount Maturity Date Yield /Rate Value FEDERAL HOME LOAN BANK NOTES X1 9 000 9 000.00 Federal Home Loan 05/24/2007 5.55% X990 Bank Notes X1 Federal Home Loan 01/18/2007 5.58% X1 Bank Notes $2, 695, 000.00 TOTAL FEDERAL HOME LOAN BANK NOTES $2, 683, 641.97 FEDERAL NATIONAL MORTGAGE ASSOCIATION NOTES X250 Federal National 02/15/2007 5.20% X249 Mortagage Association Notes $250, 000.00 TOTAL FEDERAL NATIONAL MORTGAGE ASSOCIATION NOTES $249,158.36 FREDDIE MAC NOTES $1,450,000.00 FREDDIE MAC Notes 03/15/2007 5.14% X1 $550,000.00 FREDDIE MAC Notes 02/15/2007 5.63% X547 $1,500,000.00 FREDDIE MAC Notes 03/09/2007 5.29% X1 December 2006 Page: 14 AVIBIA For more information, call MBIA Asset Management at (800)395 -5505 Fax: (800)765 -7600 FREDDIE MAC NOTES $3,500,000.00 TOTAL FREDDIE MAC NOTES $3, 4 79, 482 . I I COMMERCIAL PAPER $4,000,000.00 Abbott Labs 03/13/2007 5.26% $3 $772 AIR PRODUCTS & CHEM 01/03/2007 5.28% $771 $1,400,000.00 American General 01/16/2007 5.28% $1 Finance Corp. $3 Honda Finance 02/26/2007 5.28% $2 $3 Ciesco LP 02/07/2007 5.29% $2 $2 CitiGroup Funding 02/16/2007 5.31% $2 $800 Credit Suisse USA 02/12/2007 5.30% $795 $500 Fairway Finance 01/16/2007 5.33% $498 Corp. $2 Windmill Funding 02/06/2007 5.31% $2 Corp $2 Variable Funding 02/02/2007 5.29% $2 $3 Toyota Motor Credit 01/26/2007 5.29% $2 Corp $2 Three Pillars 01/08/2007 5.33% $2,637,259.66 Funding Corp. $680 Three Pillars 01/02/2007 5.30% $679 Funding Corp. December 2006 Page: 15 AVIBIA For more information, call MBIA Asset Management at (800)395 -5505 Fax: (800)765 -7600 COMMERCIAL PAPER $2 Societe Generale 02/05/2007 5.31% $2,487,171.57 North America $1 Societe Generale 01/08/2007 5.29% $998 North America $3 Ranger Funding 01/24/2007 5.30% $3 $1 Kitty Hawk Funding 01/31/2007 5.33% $1 Corp $1 Windmill Funding 03/09/2007 5.31% $990 Corp $1 ING Funding 02/08/2007 5.29% $1 $2 ING Funding 01/29/2007 5.32% $2 $3 HSBC FINANCE CRP 03/23/2007 5.31% $3 $3 General Electric 03/27/2007 5.30% $3 Capital Corp $1 Falcon Asset 01/19/2007 5.29% $1,496,039.40 Securitization $2 Falcon Asset 01/04/2007 5.29% $1 Securitization $950 Fairway Finance 01/18/2007 5.30% $947 Corp. $2,000,000.00 Fairway Finance 01/17/2007 5.30% $1,995,301.82 Corp. $1 Procter & Gamble 02/12/2007 5.29% $1 $1 PARK AVE REC 01/22/2007 5.30% $996 December 2006 Page: 16 AVIBIA For more information, call MBIA Asset Management at (800)395 -5505 Fax: (800)765 -7600 COMMERCIAL PAPER $2,400,000.00 PARK AVE REC 01/09/2007 5.29% $2 $1 Paccar Finance 02/27/2007 5.29% $1,274,325.30 $2 NIEUW AMSTERDAM 02/12/2007 5.33% $1 $1 Nestle Capital Corp 01/02/2007 5.22% $1,899,724.38 $3 Morgan Stanley Doan 04/09/2007 5.32% $2 Witter $2 McCormick & Co 02/08/2007 6.04% $2 $1 Liberty Street 01/22/2007 5.32% $1 Funding $3 Edison Asset 03/12/2007 5.31% $3 Securitization $2 CL CI CP 02/07/2007 5.31% $1 $500 Ciesco LP 02/14/2007 5.31% $496 $3 CALYON NA INC 03/02/2007 5.29% $3 $4 Archer Daniels 01/25/2007 5.30% $3 $3,000,000.00 Barton Capital Corp. 01/05/2007 5.29% $2,998,237.25 $500 Barton Capital Corp. 01/16/2007 5.33% $498 $87, 842, OOO. OO TOTAL CO1V MERCUL PAPER $87, 340, II 7.81 $94, 287, 000. 00 TOTAL INVESTMENTS $93, 752, 400.25 December 2006 Page: 17 AVIBIA Notes December 2006 For more information, call MBIA Asset Management at (800)395 -5505 Fax: (800)765 -7600 You may now view and print your Participant Profile on Client Connection. Under Summaries and Reports, click on Statement Reports and then Participant Profile. Follow instructions to make revisions to your Participant information. MBIA Asset Management Client Services will be closed on Monday, January 15, 2007 for Martin Luther King Jr. Day. We will also be closed on Monday, February 19, 2007 for President's Day. December 2006 Page: 18 CITY OF BROOKLYN CENTER GASB 31 CALCULATIONS DECEMBER FOR THE YEAR ENDED DECEMBER 31, 2006 2005 2006 2006 2006 2006 Type of Purchase Maturity Interest Purchase Fair Value Purchase Sales Fair Value Change in Investment CUSIP Date Date Rate Price Fair Value 4M Money Market DEC 31ST VALUE IS 21,761,889.63 11,786,607.58 19,368,180.53 20,796,423.73 10,358,364.38 0.00 4M Plus Money Market DEC 31ST VALUE IS 3,937,919.00 15,333,493.18 738,614.14 16,072,107.32 0.00 I WF Money Market DEC 31ST VALUE IS 21,414,706.49 24,817,919.72 1,178,289.90 1,065.62 25,995,144.00 0.00 FHLB 3133MVNP4 06/25/2003 02/06/2008 3.750% 844,737.50 816,925.00 820,575.00 3,650.00 FNMA 3136F3CT1 06/25/2003 03/17/2008 3.250% 1,004,630.00 969,060.00 977,810.00 8,750.00 0.00 0.00 0.00 0.00 0.00 0.00 Wells Fargo Checking 86,942.17 48,963,882.62 53,724,005.48 21,285,084.57 20,797,489.35 54,310,942.87 12,400.00 54,310,942.87 90300 -1010 86,942.17 90300 -1022 25,995,144.00 90300 -1023 16,072,107.32 90300 -1024 10,358,364.38 90300 -1110 833,333.33 90300 -1120 1,000,000.00 90300 -1132 (24,162.50) 90300 -1134 (26,820.00) 90300 -1145 16,034.17 54,310,942.87 Page 1 of 16 WELLS FARGO BANK, N.A. PUBLIC ENTITIES SPECIALTY MARKET Account Number: 000 - 1010016 POST OFFICE BOX B 514 1010016 MINNEAPOLIS, MN 55479 Statement Start Date: 12/01/06 Statement End Date: 12/31/06 CITY OF BROOKLYN CENTER GENERAL FUND 6301 SHINGLE CREEK PKWY MINNEAPOLIS MN 55430 -2113 For Customer Assistance: Call 800 - 225 -5935 (1- 800 - CALL - WELLS). ------------------------------------------------------------------------------- Account Number Beginning Balance Ending Balance Choice IV- Public Funds {nib} 000 - 1010016 586,161.00 402,112.46 ------------------------------------------------------------------------------- News from Wells Fargo ------------------------------------------------------------------------------- Credits Deposits Effective Posted Date Date Amount Transaction Detail Dec 05 26,187.49 Deposit Dec 05 15,308.10 Deposit Dec 06 45,624.37 Deposit Dec 07 29,532.53 Deposit Dec 07 40.44 Deposit Dec 08 8 Deposit Dec 11 22,861.96 Deposit Dec 12 32,755.42 Deposit Dec 14 10,302.51 Deposit Dec 18 24,190.02 Deposit Dec 19 9 Deposit Dec 19 6 Deposit Dec 20 15,062.61 Deposit Dec 28 119,238.49 Deposit .......................................... ............................... 365,319.88 Total Deposits Electronic Deposits/ Bank Credits Effective Posted Date Date Amount Transaction Detail Dec 01 546,076.55 Stagecoach Sweep Credit Dec 01 510.38 Treasury Dept Invacc Int Interest City Of Brooklyn Cente Dec 01 31,685.59 Treasury Express Deposit Bag Dec 01 900.50 Treasury Express Deposit Bag Dec 01 2 12 /01Bankcard Deposit - 0329033000 Dec 01 995.74 12 /01Bankcard Deposit - 0329033001 Dec 01 740.00 12 /01Bankcard Deposit - 0329033003 ------------------------------------------------------------------------------- Continued on next page Page 2 of 16 Account Number: 000 - 1010016 CITY OF BROOKLYN CENTER GENERAL FUND Statement End Date: 12/31/06 Electronic Deposits/ Bank Credits Effective Posted Date Date Amount Transaction Detail Dec 01 220.21 American Express Settlement 061201 3220009393 Brooklyn CTR3220009393 Dec 01 166.69 Discover Network Settlement 061130 601101707332910 Bc Liquor Dec 01 70.16 Stagecoach Sweep Interest Payment Dec 04 435,403.69 Stagecoach Sweep Credit Dec 04 7 12 /04Bankcard Deposit - 0329033000 Dec 04 3 12 /04Bankcard Deposit - 0329033000 Dec 04 2 12 /04Bankcard Deposit - 0329033003 Dec 04 2 12 /04Bankcard Deposit - 0329033001 Dec 04 1 12 /04Bankcard Deposit - 0329033001 Dec 04 255.00 12 /04Bankcard Deposit - 0329033003 Dec 04 29.00 12 /04Bankcard Deposit - 0329033003 Dec 04 150.73 American Express Settlement 061204 3220009393 Brooklyn CTR3220009393 Dec 04 146.98 American Express Settlement 061202 3220009393 Brooklyn CTR3220009393 Dec 04 167.81 Stagecoach Sweep Interest Payment Dec 05 327,525.28 Stagecoach Sweep Credit Dec 05 34,936.54 Treasury Express Deposit Bag Dec 05 21,660.39 Treasury Express Deposit Bag Dec 05 7 Treasury Express Deposit Bag Dec 05 6 Treasury Express Deposit Bag Dec 05 2 Treasury Express Deposit Bag Dec 05 377.00 Treasury Express Deposit Bag Dec 05 304.00 Treasury Express Deposit Bag Dec 05 197.75 Treasury Express Deposit Bag Dec 05 7 12 /05Bankcard Deposit - 0329033000 Dec 05 2 12 /05Bankcard Deposit - 0329033001 Dec 05 2 12 /05Bankcard Deposit - 0329033004 Dec 05 1 12 /05Bankcard Deposit - 0329033003 Dec 05 170.97 Discover Network Settlement 061203 601101707332910 Bc Liquor Dec 05 109.36 Discover Network Settlement 061202 601101707332910 Bc Liquor Dec 05 81.33 American Express Settlement 061205 3220009393 Brooklyn CTR3220009393 Dec 05 42.08 Stagecoach Sweep Interest Payment Dec 06 43,384.78 Stagecoach Sweep Credit Dec 06 20,601.67 Treasury Express Deposit Bag Dec 06 18,204.82 Treasury Express Deposit Bag ------------------------------------------------------------------------------- Continued on next page Page 3 of 16 Account Number: 000 - 1010016 CITY OF BROOKLYN CENTER GENERAL FUND Statement End Date: 12/31/06 Electronic Deposits/ Bank Credits Effective Posted Date Date Amount Transaction Detail Dec 06 14,959.02 Treasury Express Deposit Bag Dec 06 6 Treasury Express Deposit Bag Dec 06 2 Treasury Express Deposit Bag Dec 06 1 Treasury Express Deposit Bag Dec 06 598.90 Treasury Express Deposit Bag Dec 06 2 12 /06Bankcard Deposit - 0329033000 Dec 06 2 12 /06Bankcard Deposit - 0329033003 Dec 06 1 12 /06Bankcard Deposit - 0329033001 Dec 06 197.83 Discover Network Settlement 061205 601101707332910 Bc Liquor Dec 06 5.57 Stagecoach Sweep Interest Payment Dec 07 87,601.11 Stagecoach Sweep Credit Dec 07 640.00 Treasury Express Deposit Bag Dec 07 3 12 /07Bankcard Deposit - 0329033003 Dec 07 3 12 /07Bankcard Deposit - 0329033000 Dec 07 1 12 /07Bankcard Deposit - 0329033001 Dec 07 242.84 American Express Settlement 061207 3220009393 Brooklyn CTR3220009393 Dec 07 81.80 Discover Network Settlement 061206 601101707332910 Bc Liquor Dec 07 11.10 Stagecoach Sweep Interest Payment Dec 08 149,721.08 Stagecoach Sweep Credit Dec 08 450,000.00 WT Fed #02184 U.S. Bank,N.A. /ORG =4M Fund Wire Transfer Account Srf# 061208015249 Trn #061208061698 Rfb# 061208015249 Dec 08 21,840.95 Treasury Express Deposit Bag Dec 08 7 Treasury Express Deposit Bag Dec 08 2 Treasury Express Deposit Bag Dec 08 2 12 /08Bankcard Deposit - 0329033000 Dec 08 2 12 /08Bankcard Deposit - 0329033003 Dec 08 969.19 12 /08Bankcard Deposit - 0329033001 Dec 08 116.82 Discover Network Settlement 061207 601101707332910 Bc Liquor Dec 08 70.79 American Express Settlement 061208 3220009393 Brooklyn CTR3220009393 Dec 08 19.23 Stagecoach Sweep Interest Payment Dec 11 544,147.31 Stagecoach Sweep Credit Dec 11 358.00 Treasury Express Deposit Bag Dec 11 6 12 /11Bankcard Deposit - 0329033000 Dec 11 3 12 /11Bankcard Deposit - 0329033003 ------------------------------------------------------------------------------- Continued on next page Page 4 of 16 Account Number: 000 - 1010016 CITY OF BROOKLYN CENTER GENERAL FUND Statement End Date: 12/31/06 Electronic Deposits/ Bank Credits Effective Posted Date Date Amount Transaction Detail Dec 11 3 12 /11Bankcard Deposit - 0329033001 Dec 11 2 12 /11Bankcard Deposit - 0329033000 Dec 11 2 12 /11Bankcard Deposit - 0329033004 Dec 11 1 12 /11Bankcard Deposit - 0329033001 Dec 11 191.50 12 /11Bankcard Deposit - 0329033003 Dec 11 36.00 12 /11Bankcard Deposit - 0329033002 Dec 11 20,272.94 American Express Settlement 061211 3224714741 Earl Brown H3224714741 Dec 11 1 American Express Settlement 061209 3224714741 Earl Brown H3224714741 Dec 11 282.98 American Express Settlement 061211 3220009393 Brooklyn CTR3220009393 Dec 11 75.97 Discover Network Settlement 061208 601101707332910 Bc Liquor Dec 11 72.35 American Express Settlement 061209 3220009393 Brooklyn CTR3220009393 Dec 11 206.89 Stagecoach Sweep Interest Payment Dec 12 544,723.37 Stagecoach Sweep Credit Dec 12 48,579.96 Treasury Express Deposit Bag Dec 12 17,592.13 Treasury Express Deposit Bag Dec 12 7 Treasury Express Deposit Bag Dec 12 4 Treasury Express Deposit Bag Dec 12 2 Treasury Express Deposit Bag Dec 12 500.00 Treasury Express Deposit Bag Dec 12 393.75 Treasury Express Deposit Bag Dec 12 148.00 Treasury Express Deposit Bag Dec 12 83.41 Treasury Express Deposit Bag Dec 12 9 12 /12Bankcard Deposit - 0329033000 Dec 12 3 12 /12Bankcard Deposit - 0329033001 Dec 12 1 12 /12Bankcard Deposit - 0329033003 Dec 12 471.78 Discover Network Settlement 061210 601101707332910 Bc Liquor Dec 12 213.07 American Express Settlement 061212 3220009393 Brooklyn CTR3220009393 Dec 12 48.07 Discover Network Settlement 061209 601101707332910 Bc Liquor Dec 12 69.98 Stagecoach Sweep Interest Payment Dec 13 401,937.57 Stagecoach Sweep Credit Dec 13 2 12 /13Bankcard Deposit - 0329033000 Dec 13 1 12 /13Bankcard Deposit - 0329033001 ------------------------------------------------------------------------------- Continued on next page Page 5 of 16 Account Number: 000 - 1010016 CITY OF BROOKLYN CENTER GENERAL FUND Statement End Date: 12/31/06 Electronic Deposits/ Bank Credits Effective Posted Date Date Amount Transaction Detail Dec 13 621.50 12 /13Bankcard Deposit - 0329033003 Dec 13 2.50 12 /13Bankcard Deposit - 0329033004 Dec 13 269.58 Discover Network Settlement 061212 601101707332910 Bc Liquor Dec 13 51.64 Stagecoach Sweep Interest Payment Dec 14 426,780.29 Stagecoach Sweep Credit Dec 14 7 Miscellaneous Credit Dec 14 36,480.49 Treasury Express Deposit Bag Dec 14 21,987.74 Treasury Express Deposit Bag Dec 14 14,128.76 Treasury Express Deposit Bag Dec 14 7 Treasury Express Deposit Bag Dec 14 6 Treasury Express Deposit Bag Dec 14 997.75 Treasury Express Deposit Bag Dec 14 836.00 Treasury Express Deposit Bag Dec 14 4 12 /14Bankcard Deposit - 0329033004 Dec 14 3 12 /14Bankcard Deposit - 0329033000 Dec 14 1 12 /14Bankcard Deposit - 0329033001 Dec 14 408.00 12 /14Bankcard Deposit - 0329033003 Dec 14 273.88 American Express Settlement 061214 3220009393 Brooklyn CTR3220009393 Dec 14 80.72 Discover Network Settlement 061213 601101707332910 Bc Liquor Dec 14 54.09 Stagecoach Sweep Interest Payment Dec 14 20.00 Cash Vault - Currency Difference Dec 15 482,385.69 Stagecoach Sweep Credit Dec 15 21,184.45 Treasury Express Deposit Bag Dec 15 692.50 Treasury Express Deposit Bag Dec 15 3 12 /15Bankcard Deposit - 0329033000 Dec 15 1 12 /15Bankcard Deposit - 0329033001 Dec 15 89.00 12 /15Bankcard Deposit - 0329033003 Dec 15 140.19 Discover Network Settlement 061214 601101707332910 Bc Liquor Dec 15 114.84 American Express Settlement 061215 3220009393 Brooklyn CTR3220009393 Dec 15 61.97 Stagecoach Sweep Interest Payment Dec 18 217,358.08 Stagecoach Sweep Credit Dec 18 47,840.36 Treasury Express Deposit Bag Dec 18 7 Treasury Express Deposit Bag Dec 18 6 Treasury Express Deposit Bag Dec 18 235.00 Treasury Express Deposit Bag Dec 18 19,736.39 12 /18Bankcard Deposit - 0329033004 Dec 18 7 12 /18Bankcard Deposit - 0329033000 ------------------------------------------------------------------------------- Continued on next page Page 6 of 16 Account Number: 000 - 1010016 CITY OF BROOKLYN CENTER GENERAL FUND Statement End Date: 12/31/06 Electronic Deposits/ Bank Credits Effective Posted Date Date Amount Transaction Detail Dec 18 4 12 /18Bankcard Deposit - 0329033000 Dec 18 3 12 /18Bankcard Deposit - 0329033001 Dec 18 1 12 /18Bankcard Deposit - 0329033001 Dec 18 194.00 12 /18Bankcard Deposit - 0329033003 Dec 18 174.00 12 /18Bankcard Deposit - 0329033003 Dec 18 81.00 12 /18Bankcard Deposit - 0329033003 Dec 18 2 American Express Settlement 061218 3224714741 Earl Brown H3224714741 Dec 18 644.16 American Express Settlement 061218 3220009393 Brooklyn CTR3220009393 Dec 18 65.34 Discover Network Settlement 061215 601101707332910 Bc Liquor Dec 18 83.77 Stagecoach Sweep Interest Payment Dec 19 50,988.49 Stagecoach Sweep Credit Dec 19 13,712.66 Treasury Express Deposit Bag Dec 19 3 Treasury Express Deposit Bag Dec 19 745.75 Treasury Express Deposit Bag Dec 19 320.00 Treasury Express Deposit Bag Dec 19 138.50 Treasury Express Deposit Bag Dec 19 11,020.51 12 /19Bankcard Deposit - 0329033000 Dec 19 4 12 /19Bankcard Deposit - 0329033001 Dec 19 800.50 12 /19Bankcard Deposit - 0329033003 Dec 19 463.01 Discover Network Settlement 061218 601101707332910 Bc Liquor Dec 19 129.60 Discover Network Settlement 061216 601101707332910 Bc Liquor Dec 19 64.63 Discover Network Settlement 061217 601101707332910 Bc Liquor Dec 19 39.68 American Express Settlement 061219 3220009393 Brooklyn CTR3220009393 Dec 19 6.46 Stagecoach Sweep Interest Payment Dec 20 51,194.96 Stagecoach Sweep Credit Dec 20 64,848.11 Treasury Express Deposit Bag Dec 20 18,085.54 Treasury Express Deposit Bag Dec 20 15,538.24 Treasury Express Deposit Bag Dec 20 7 Treasury Express Deposit Bag Dec 20 3 12 /20Bankcard Deposit - 0329033000 Dec 20 1 12 /20Bankcard Deposit - 0329033001 Dec 20 232.00 12 /20Bankcard Deposit - 0329033003 ------------------------------------------------------------------------------- Continued on next page Page 7 of 16 Account Number: 000 - 1010016 CITY OF BROOKLYN CENTER GENERAL FUND Statement End Date: 12/31/06 Electronic Deposits/ Bank Credits Effective Posted Date Date Amount Transaction Detail Dec 20 346.83 Discover Network Settlement 061219 601101707332910 Bc Liquor Dec 20 103.64 American Express Settlement 061220 3220009393 Brooklyn CTR3220009393 Dec 20 6.49 Stagecoach Sweep Interest Payment Dec 21 89,014.35 Stagecoach Sweep Credit Dec 21 46,678.60 Treasury Express Deposit Bag Dec 21 7 Treasury Express Deposit Bag Dec 21 684.95 Treasury Express Deposit Bag Dec 21 5 12 /21Bankcard Deposit - 0329033000 Dec 21 3 12 /21Bankcard Deposit - 0329033003 Dec 21 2 12 /21Bankcard Deposit - 0329033001 Dec 21 681.25 American Express Settlement 061221 3224714741 Earl Brown H3224714741 Dec 21 380.31 American Express Settlement 061221 3220009393 Brooklyn CTR3220009393 Dec 21 153.15 Discover Network Settlement 061220 601101707332910 Bc Liquor Dec 21 11.28 Stagecoach Sweep Interest Payment Dec 22 141,527.82 Stagecoach Sweep Credit Dec 22 17,373.03 Treasury Express Deposit Bag Dec 22 8 Treasury Express Deposit Bag Dec 22 596.00 Treasury Express Deposit Bag Dec 22 324.50 Treasury Express Deposit Bag Dec 22 4 12 /22Bankcard Deposit - 0329033000 Dec 22 2 12 /22Bankcard Deposit - 0329033001 Dec 22 65.00 12 /22Bankcard Deposit - 0329033003 Dec 22 596.24 Discover Network Settlement 061221 601101707332910 Bc Liquor Dec 22 16.01 American Express Settlement 061222 3220009393 Brooklyn CTR3220009393 Dec 22 17.94 Stagecoach Sweep Interest Payment Dec 26 160,466.53 Stagecoach Sweep Credit Dec 26 27,538.81 Treasury Express Deposit Bag Dec 26 19,112.16 Treasury Express Deposit Bag Dec 26 10,503.31 Treasury Express Deposit Bag Dec 26 484.03 Treasury Express Deposit Bag Dec 26 12,185.63 12 /26Bankcard Deposit - 0329033000 Dec 26 7 12 /26Bankcard Deposit - 0329033000 Dec 26 5 12 /26Bankcard Deposit - 0329033001 Dec 26 2 12 /26Bankcard Deposit - 0329033001 ------------------------------------------------------------------------------- Continued on next page Page 8 of 16 Account Number: 000 - 1010016 CITY OF BROOKLYN CENTER GENERAL FUND Statement End Date: 12/31/06 Electronic Deposits/ Bank Credits Effective Posted Date Date Amount Transaction Detail Dec 26 207.00 12 /26Bankcard Deposit - 0329033002 Dec 26 197.00 12 /26Bankcard Deposit - 0329033003 Dec 26 95.50 12 /26Bankcard Deposit - 0329033003 Dec 26 600.25 American Express Settlement 061225 3220009393 Brooklyn CTR3220009393 Dec 26 218.53 American Express Settlement 061223 3220009393 Brooklyn CTR3220009393 Dec 26 193.65 American Express Settlement 061226 3220009393 Brooklyn CTR3220009393 Dec 26 184.42 Discover Network Settlement 061222 601101707332910 Bc Liquor Dec 26 82.46 Stagecoach Sweep Interest Payment Dec 27 225,379.10 Stagecoach Sweep Credit Dec 27 34,044.63 Treasury Express Deposit Bag Dec 27 10,091.05 Treasury Express Deposit Bag Dec 27 475.00 Treasury Express Deposit Bag Dec 27 367.00 Treasury Express Deposit Bag Dec 27 253.50 Treasury Express Deposit Bag Dec 27 23,632.36 12 /27Bankcard Deposit - 0329033000 Dec 27 9 12 /27Bankcard Deposit - 0329033001 Dec 27 96.00 12 /27Bankcard Deposit - 0329033003 Dec 27 821.79 Discover Network Settlement 061224 601101707332910 Bc Liquor Dec 27 411.93 Discover Network Settlement 061223 601101707332910 Bc Liquor Dec 27 29.35 Stagecoach Sweep Interest Payment Dec 28 261,636.83 Stagecoach Sweep Credit Dec 28 29,914.77 Treasury Express Deposit Bag Dec 28 775.85 Treasury Express Deposit Bag Dec 28 378.00 Treasury Express Deposit Bag Dec 28 283.90 Treasury Express Deposit Bag Dec 28 7 12 /28Bankcard Deposit - 0329033004 Dec 28 4 12 /28Bankcard Deposit - 0329033000 Dec 28 1 12 /28Bankcard Deposit - 0329033001 Dec 28 680.00 12 /28Bankcard Deposit - 0329033003 Dec 28 48,884.77 Deposit Made In A Branch /Store Dec 28 813.90 Discover Network Settlement 061227 601101707332910 Bc Liquor Dec 28 34.07 Stagecoach Sweep Interest Payment Dec 29 280,738.02 Stagecoach Sweep Credit Dec 29 2 12 /29Bankcard Deposit - 0329033000 ------------------------------------------------------------------------------- Continued on next page Page 9 of 16 Account Number: 000 - 1010016 CITY OF BROOKLYN CENTER GENERAL FUND Statement End Date: 12/31/06 Electronic Deposits/ Bank Credits Effective Posted Date Date Amount Transaction Detail Dec 29 953.69 12 /29Bankcard Deposit - 0329033001 Dec 29 97.50 12 /29Bankcard Deposit - 0329033003 Dec 29 1 Discover Network Settlement 061228 601101705106860 Earle Brown Heritage C Dec 29 491.62 American Express Settlement 061229 3220009393 Brooklyn CTR3220009393 Dec 29 116.40 Discover Network Settlement 061228 601101707332910 Bc Liquor Dec 29 35.58 Stagecoach Sweep Interest Payment .......................................... ............................... 7 Total Electronic Deposits/ Bank Credits .......................................... ............................... 7 Total Credits ------------------------------------------------------------------------------- Debits Electronic Debits/ Bank Debits Effective Posted Date Date Amount Transaction Detail Dec 01 132.81 Return Item Charge - Paper MN 061201 Dec 01 226,205.36 ZBA Funding Account Transfer To 1010008 Dec 01 435,403.69 Stagecoach Sweep Debit Dec 04 45.52 Discover Network Settlement 061201 601101707332910 Bc Liquor Dec 04 6.88 Discover Network Settlement 061201 601101705106860 Earle Brown Heritage C Dec 04 114,407.90 ZBA Funding Account Transfer To 1010008 Dec 04 327,525.28 Stagecoach Sweep Debit Dec 05 531.40 Return Item Charge - Paper MN 061205 Dec 05 120.63 American Express Axp Discnt 061205 3224714741 Earl Brown H3224714741 Dec 05 52.94 American Express Axp Discnt 061205 3220009393 Brooklyn CTR3220009393 Dec 05 100.00 Cstar Adj Ref # A- 6112802418MN Dec 05 6 ZBA Funding Account Transfer To 1010008 Dec 05 43,384.78 Stagecoach Sweep Debit Dec 06 114.00 Return Item Charge - Paper MN 061206 Dec 06 3 ZBA Funding Account Transfer To 1010008 Dec 06 87,601.11 Stagecoach Sweep Debit Dec 07 3 ZBA Funding Account Transfer To 1010008 Dec 07 149,721.08 Stagecoach Sweep Debit ------------------------------------------------------------------------------- Continued on next page Page 10 of 16 Account Number: 000 - 1010016 CITY OF BROOKLYN CENTER GENERAL FUND Statement End Date: 12/31/06 Electronic Debits/ Bank Debits Effective Posted Date Date Amount Transaction Detail Dec 08 102.38 Return Item Charge - Paper MN 061208 Dec 08 36,975.17 ZBA Funding Account Transfer To 1010008 Dec 08 544,147.31 Stagecoach Sweep Debit Dec 11 246.73 Return Item Charge - Paper MN 061211 Dec 11 23,411.73 ZBA Funding Account Transfer To 1010008 Dec 11 544,723.37 Stagecoach Sweep Debit Dec 12 168.31 Return Item Charge - Paper MN 061212 Dec 12 2 Bankcard Interchange Fee - 0329033000 Dec 12 822.33 Bankcard Interchange Fee - 0329033001 Dec 12 534.39 Bankcard Fee - 0329033000 Dec 12 269.95 Bankcard Interchange Fee - 0329033004 Dec 12 247.79 Bankcard Interchange Fee - 0329033003 Dec 12 202.14 Bankcard Fee - 0329033001 Dec 12 70.18 Bankcard Fee - 0329033003 Dec 12 55.10 Bankcard Fee - 0329033002 Dec 12 54.44 Bankcard Fee - 0329033004 Dec 12 21.19 Bankcard Interchange Fee - 0329033002 Dec 12 1 ZBA Funding Account Transfer To 1010008 Dec 12 401,937.57 Stagecoach Sweep Debit Dec 13 7 ZBA Funding Account Transfer To 1010008 Dec 13 426,780.29 Stagecoach Sweep Debit Dec 14 6 ZBA Funding Account Transfer To 1010008 Dec 14 482,385.69 Stagecoach Sweep Debit Dec 15 312,755.45 ZBA Funding Account Transfer To 1010008 Dec 15 217,358.08 Stagecoach Sweep Debit Dec 18 21,143.11 ZBA Funding Account Transfer To 1010008 Dec 18 50,988.49 Stagecoach Sweep Debit Dec 19 37,644.00 MN Dept Revenue MN Rev Pay 061219 99991172964 Brooklyn Center City O Dec 19 17,369.00 MN Dept Revenue MN Rev Pay 061219 99991193252 Earle Brown Heritage C Dec 19 3 MN Dept Revenue MN Rev Pay 061219 99991219115 Brooklyn Center City O Dec 19 13,130.64 ZBA Funding Account Transfer To 1010008 Dec 19 51,194.96 Stagecoach Sweep Debit Dec 20 175.48 Client Analysis Srvc Chrg 061219 Svc Chge 1106 000000001010016 Dec 20 5 ZBA Funding Account Transfer To 1010008 Dec 20 89,014.35 Stagecoach Sweep Debit Dec 21 3 ZBA Funding Account Transfer To 1010008 ------------------------------------------------------------------------------- Continued on next page Page 11 of 16 Account Number: 000 - 1010016 CITY OF BROOKLYN CENTER GENERAL FUND Statement End Date: 12/31/06 Electronic Debits/ Bank Debits Effective Posted Date Date Amount Transaction Detail Dec 21 141,527.82 Stagecoach Sweep Debit Dec 22 89.67 Return Item Charge - Paper MN 061222 Dec 22 3 ZBA Funding Account Transfer To 1010008 Dec 22 160,466.53 Stagecoach Sweep Debit Dec 26 5 Return Item Charge - Paper MN 061226 Dec 26 300.11 ZBA Funding Account Transfer To 1010008 Dec 26 225,379.10 Stagecoach Sweep Debit Dec 27 431.19 ZBA Funding Account Transfer To 1010008 Dec 27 261,636.83 Stagecoach Sweep Debit Dec 28 595.00 Return Item Charge - Paper MN 061228 Dec 28 11.00 Cash Vault - Currency Difference Dec 28 839.32 ZBA Funding Account Transfer To 1010008 Dec 28 280,738.02 Stagecoach Sweep Debit Dec 29 312,506.42 ZBA Funding Account Transfer To 1010008 ............................................ ............................... 6 Total Electronic Debits/ Bank Debits Checks Paid Check # Date Amount Check # Date Amount ..... ............................... ..... ............................... 128403 Dec 28 2.14 129773 Dec 13 154.00 128446* Dec 07 180.00 129794* Dec 05 65.00 129063* Dec 04 7.65 129800* Dec 04 448.93 129227* Dec 04 69.99 129807* Dec 14 70.39 129391* Dec 21 303.50 129809* Dec 06 311.17 129415* Dec 01 98.00 129819* Dec 08 1 129418* Dec 04 5.00 129832* Dec 08 123.70 129419 Dec 11 324.70 129837* Dec 06 350.00 129470* Dec 08 16.68 129842* Dec 07 3 129487* Dec 06 440.00 129844* Dec 19 57.00 129491* Dec 05 5.00 129852* Dec 12 29.91 129562* Dec 05 200.00 129859* Dec 11 19,541.05 129563 Dec 05 374.00 129869* Dec 07 30.00 129635* Dec 07 60.91 129871* Dec 08 7 129649* Dec 04 140.00 129872 Dec 04 739.42 129677* Dec 14 163.00 129873 Dec 01 229.07 129678 Dec 05 64.00 129879* Dec 06 20.00 129687* Dec 04 110.00 129883* Dec 15 39.00 129693* Dec 29 134.00 129888* Dec 06 264.00 129708* Dec 21 177.00 129890* Dec 06 550.00 129724* Dec 14 250.00 129897* Dec 04 24.85 129729* Dec 12 120.00 129922* Dec 07 337.42 129763* Dec 12 128.00 129923 Dec 05 150.00 129772* Dec 13 146.00 129924 Dec 05 112.05 ------------------------------------------------------------------------------- Continued on next page Page 12 of 16 Account Number: 000 - 1010016 CITY OF BROOKLYN CENTER GENERAL FUND Statement End Date: 12/31/06 Checks Paid Check # Date Amount Check # Date Amount ..... ............................... ..... ............................... 129925 Dec 01 54.35 129983 Dec 08 403.71 129926 Dec 04 111.97 129984 Dec 07 29.37 129927 Dec 06 232.00 129985 Dec 05 14,027.43 129928 Dec 04 101.00 129986 Dec 05 2 129930* Dec 05 28.37 129987 Dec 05 1 129931 Dec 01 1 129988 Dec 05 5 129932 Dec 19 264.00 129989 Dec 04 281.25 129933 Dec 04 2 129990 Dec 05 31.27 129934 Dec 06 35.00 129991 Dec 07 835.76 129935 Dec 05 2 129992 Dec 11 1 129936 Dec 05 20,471.80 129993 Dec 07 17.20 129937 Dec 05 2 129994 Dec 04 2 129938 Dec 07 181.14 129995 Dec 05 574.25 129939 Dec 04 1 129996 Dec 06 784.00 129940 Dec 06 150.00 129997 Dec 01 988.43 129941 Dec 06 44.00 129998 Dec 05 2 129942 Dec 04 850.00 129999 Dec 07 142.15 129943 Dec 21 478.80 130000 Dec 05 790.00 129944 Dec 01 184.80 130002* Dec 06 35.80 129945 Dec 05 3 130003 Dec 06 27,312.80 129946 Dec 04 25.47 130004 Dec 06 4 129947 Dec 01 6 130005 Dec 06 2 129948 Dec 05 240.00 130006 Dec 11 278.20 129949 Dec 04 254.20 130007 Dec 07 1 129950 Dec 04 3 130008 Dec 05 3 129951 Dec 05 128.00 130009 Dec 06 11.38 129952 Dec 15 92.40 130010 Dec 05 29,436.15 129953 Dec 07 151.53 130012* Dec 15 125.11 129954 Dec 08 125.65 130013 Dec 13 75.40 129955 Dec 05 47.11 130014 Dec 12 111.05 129956 Dec 04 7 130015 Dec 13 96.85 129957 Dec 05 214,786.47 130016 Dec 11 50.00 129958 Dec 06 763.50 130017 Dec 08 1 129959 Dec 04 1 130018 Dec 08 227.33 129960 Dec 04 76.95 130019 Dec 12 672.04 129961 Dec 08 42,133.93 130020 Dec 13 492.63 129962 Dec 05 44,321.90 130021 Dec 12 141.00 129963 Dec 06 5 130022 Dec 13 45.00 129964 Dec 01 14.69 130023 Dec 13 22.13 129965 Dec 05 1 130024 Dec 11 235.95 129966 Dec 04 17.00 130025 Dec 11 29.02 129967 Dec 04 13,558.74 130026 Dec 14 157.00 129968 Dec 01 81.37 130027 Dec 11 559.00 129969 Dec 04 16,142.68 130028 Dec 20 26.20 129970 Dec 28 89.99 130030* Dec 13 12,257.75 129971 Dec 05 56.61 130031 Dec 13 37.20 129972 Dec 07 30,160.06 130032 Dec 15 550.68 129973 Dec 08 14.82 130033 Dec 15 31.28 129974 Dec 05 17,335.16 130034 Dec 08 400.00 129976* Dec 18 19.11 130035 Dec 13 3 129977 Dec 04 477.49 130037* Dec 11 1 129979* Dec 04 483.83 130038 Dec 12 3 129980 Dec 07 81.92 130039 Dec 11 680.00 129981 Dec 01 217.00 130040 Dec 08 605.50 129982 Dec 04 423.15 130041 Dec 08 808.20 ------------------------------------------------------------------------------- Continued on next page Page 13 of 16 Account Number: 000 - 1010016 CITY OF BROOKLYN CENTER GENERAL FUND Statement End Date: 12/31/06 Checks Paid Check # Date Amount Check # Date Amount ..... ............................... ..... ............................... 130042 Dec 14 180.91 130098 Dec 12 135.81 130043 Dec 11 130.24 130099 Dec 29 154.00 130044 Dec 18 65.79 130100 Dec 13 250.00 130045 Dec 12 1 130101 Dec 15 420.00 130046 Dec 11 35.15 130102 Dec 15 63.57 130047 Dec 12 754.04 130103 Dec 11 297.00 130048 Dec 12 2 130104 Dec 11 155.66 130049 Dec 12 160.00 130105 Dec 11 220.44 130050 Dec 15 138.60 130106 Dec 11 329.52 130051 Dec 20 127.80 130107 Dec 11 217.80 130052 Dec 12 4.79 130108 Dec 13 484.00 130053 Dec 13 291.30 130109 Dec 13 112.70 130054 Dec 11 326.20 130110 Dec 12 68.76 130055 Dec 12 4 130111 Dec 13 41.30 130056 Dec 08 25.99 130112 Dec 11 5.94 130057 Dec 18 31,635.00 130113 Dec 15 1 130058 Dec 12 6 130114 Dec 15 10.82 130059 Dec 12 2 130115 Dec 13 500.00 130060 Dec 13 927.25 130116 Dec 11 12,202.47 130061 Dec 13 1 130117 Dec 14 20.53 130062 Dec 12 24,828.41 130118 Dec 12 3 130063 Dec 13 18,244.93 130119 Dec 18 7 130064 Dec 12 12,327.55 130120 Dec 22 200.00 130065 Dec 12 572.00 130121 Dec 20 95.85 130066 Dec 12 175.00 130122 Dec 19 20.00 130067 Dec 11 780.00 130123 Dec 21 270.00 130068 Dec 12 83.53 130124 Dec 19 68.54 130069 Dec 08 19,686.25 130125 Dec 20 507.23 130070 Dec 11 6 130126 Dec 19 470.30 130072* Dec 13 521.68 130127 Dec 18 155.50 130073 Dec 13 1 130128 Dec 18 58,180.94 130074 Dec 13 3.76 130129 Dec 18 25.75 130075 Dec 11 2 130130 Dec 27 200.00 130076 Dec 12 79,545.03 130131 Dec 18 2 130077 Dec 14 114.22 130132 Dec 15 2 130078 Dec 13 55.55 130133 Dec 18 38.32 130079 Dec 08 296.08 130134 Dec 19 200.00 130080 Dec 14 761.97 130135 Dec 19 41.89 130081 Dec 18 238.39 130136 Dec 22 20.31 130082 Dec 08 1 130137 Dec 22 72.27 130083 Dec 11 241.80 130138 Dec 18 52.24 130084 Dec 12 49,110.84 130139 Dec 28 8.00 130085 Dec 21 79.78 130140 Dec 21 6 130086 Dec 12 1 130141 Dec 18 1 130087 Dec 12 3 130142 Dec 18 1 130088 Dec 11 300.00 130143 Dec 20 466.58 130089 Dec 12 265.37 130144 Dec 18 19,027.90 130090 Dec 15 500.00 130146* Dec 18 52.20 130091 Dec 12 87.11 130147 Dec 19 526.90 130092 Dec 11 2 130148 Dec 18 568.50 130093 Dec 13 477.70 130149 Dec 20 150.00 130094 Dec 12 6 130150 Dec 19 156.14 130095 Dec 12 2 130151 Dec 18 47.73 130096 Dec 11 45.05 130152 Dec 15 2 130097 Dec 21 331.34 130153 Dec 22 491.45 ------------------------------------------------------------------------------- Continued on next page Page 14 of 16 Account Number: 000 - 1010016 CITY OF BROOKLYN CENTER GENERAL FUND Statement End Date: 12/31/06 Checks Paid Check # Date Amount Check # Date Amount ..... ............................... ..... ............................... 130154 Dec 15 211.94 130214 Dec 19 440.07 130155 Dec 18 104.12 130215 Dec 22 176.00 130156 Dec 18 34.34 130216 Dec 18 8.79 130157 Dec 19 1 130217 Dec 20 1 130158 Dec 19 153.72 130218 Dec 19 660.31 130159 Dec 20 918.40 130219 Dec 20 863.55 130160 Dec 20 121.58 130220 Dec 19 396.64 130161 Dec 19 288.00 130221 Dec 21 331.94 130162 Dec 19 320.00 130222 Dec 14 540.00 130163 Dec 20 90.00 130223 Dec 19 2 130164 Dec 21 148.00 130224 Dec 18 328.96 130165 Dec 18 52.40 130226* Dec 20 2 130166 Dec 18 4.31 130227 Dec 18 651.05 130167 Dec 19 625.16 130228 Dec 18 3 130168 Dec 18 484.00 130229 Dec 19 2 130169 Dec 27 106.80 130230 Dec 19 14.00 130170 Dec 19 47.93 130231 Dec 21 9.00 130172* Dec 18 52.75 130232 Dec 18 128.20 130173 Dec 29 35.00 130233 Dec 19 1 130174 Dec 19 9 130234 Dec 21 73.17 130175 Dec 15 20.00 130235 Dec 19 374.54 130176 Dec 21 247.57 130236 Dec 15 437.50 130177 Dec 18 2 130237 Dec 19 352.00 130179* Dec 19 834.75 130238 Dec 14 53.40 130180 Dec 22 366.34 130239 Dec 27 49.95 130181 Dec 20 524.57 130240 Dec 20 439.00 130182 Dec 22 8 130241 Dec 19 46.10 130183 Dec 18 137.52 130242 Dec 22 15.00 130184 Dec 18 486.51 130243 Dec 28 142.29 130185 Dec 20 8 130244 Dec 26 998.44 130186 Dec 20 6 130247* Dec 27 153.00 130187 Dec 20 330.00 130248 Dec 28 103.81 130188 Dec 18 220.00 130249 Dec 22 313.95 130189 Dec 18 568.77 130250 Dec 22 62.63 130190 Dec 21 1 130251 Dec 26 133.80 130191 Dec 18 3 130252 Dec 27 109.00 130193* Dec 15 828.77 130253 Dec 26 31.09 130196* Dec 15 4 130255* Dec 27 18.28 130197 Dec 18 81,458.57 130257* Dec 27 292.08 130198 Dec 18 149.94 130258 Dec 28 11,091.00 130199 Dec 26 212.95 130259 Dec 22 576.25 130200 Dec 20 623.42 130260 Dec 29 389.80 130201 Dec 22 3 130261 Dec 29 24,171.63 130202 Dec 22 45.00 130262 Dec 27 712.11 130203 Dec 22 658.50 130263 Dec 28 150.00 130204 Dec 29 825.00 130264 Dec 28 66.84 130205 Dec 18 708.51 130265 Dec 26 230.20 130206 Dec 20 450.28 130266 Dec 27 125.16 130207 Dec 26 1 130267 Dec 28 39.71 130208 Dec 22 382.24 130268 Dec 27 167.12 130209 Dec 26 58.91 130269 Dec 26 24.92 130210 Dec 20 1 130270 Dec 26 248.58 130211 Dec 19 660.00 130271 Dec 22 3 130212 Dec 20 970.24 130272 Dec 29 21.15 130213 Dec 18 8 130273 Dec 22 30.67 ------------------------------------------------------------------------------- Continued on next page Page 15 of 16 Account Number: 000 - 1010016 CITY OF BROOKLYN CENTER GENERAL FUND Statement End Date: 12/31/06 Checks Paid Check # Date Amount Check # Date Amount ..... ............................... ..... ............................... 130274 Dec 27 247.00 130327 Dec 29 779.75 130275 Dec 26 145.04 130328 Dec 22 1 130276 Dec 27 1 130329 Dec 27 141.05 130277 Dec 27 27.00 130330 Dec 28 280.52 130279* Dec 28 21.30 130331 Dec 27 48,055.18 130281* Dec 27 115.00 130332 Dec 28 23.84 130282 Dec 28 1 130333 Dec 26 3 130283 Dec 29 76.68 130334 Dec 28 988.16 130284 Dec 28 488.84 130335 Dec 26 808.00 130285 Dec 28 262.45 130337* Dec 22 3 130286 Dec 26 175.00 130338 Dec 28 250.00 130287 Dec 26 260.75 130339 Dec 28 500.00 130288 Dec 27 8 130341* Dec 27 76.80 130291* Dec 29 648.52 130344* Dec 27 308.00 130292 Dec 28 46.00 130345 Dec 27 12.50 130293 Dec 28 229.99 130346 Dec 27 115.80 130294 Dec 27 332.69 130347 Dec 27 190.42 130295 Dec 26 60.29 130348 Dec 26 380.20 130296 Dec 22 757.45 130349 Dec 29 10.64 130298* Dec 26 4 130350 Dec 22 105.60 130300* Dec 26 23.00 130351 Dec 27 374.00 130301 Dec 28 70.54 130354* Dec 27 1 130302 Dec 28 95.22 130355 Dec 27 16.52 130303 Dec 26 990.00 130356 Dec 29 900.00 130304 Dec 26 19.66 130360* Dec 27 1.17 130305 Dec 29 490.45 130362* Dec 29 220.00 130306 Dec 26 525.38 130363 Dec 26 12,927.13 130307 Dec 27 42.10 130364 Dec 29 208.71 130308 Dec 26 7 130372* Dec 29 1 130309 Dec 28 80.00 130373 Dec 29 2 130310 Dec 27 314.40 130374 Dec 29 62.63 130311 Dec 26 244.29 130396* Dec 29 3 130312 Dec 22 3 130398* Dec 29 68.59 130314* Dec 27 2 130409* Dec 29 145,779.80 130315 Dec 26 182.45 130420* Dec 29 1 130316 Dec 27 23.00 130429* Dec 29 875.00 130317 Dec 27 120.00 130436* Dec 29 1 130319* Dec 26 69.23 130440* Dec 29 123.54 130320 Dec 27 614.60 130453* Dec 29 240.00 130321 Dec 29 225.00 130459* Dec 29 4 130323* Dec 28 1 130464* Dec 29 88.77 130324 Dec 29 135.00 130476* Dec 29 277.24 130325 Dec 29 30.00 130479* Dec 29 95.03 130326 Dec 26 153.15 ............................................ ............................... *Gap in check sequence 1 Total Checks Paid ............................................ ............................... 7 Total Debits ------------------------------------------------------------------------------- Continued on next page Page 16 of 16 Account Number: 000 - 1010016 CITY OF BROOKLYN CENTER GENERAL FUND Statement End Date: 12/31/06 ------------------------------------------------------------------------------- Daily Ledger Balance Summary Date Balance Date Balance ..... ............................... ..... ............................... Nov 30 586,161.00 Dec 15 443,487.00 Dec 01 498,594.00 Dec 18 489,268.00 Dec 04 456,230.00 Dec 19 443,589.00 Dec 05 496,349.00 Dec 20 500,946.00 Dec 06 523,379.00 Dec 21 501,724.00 Dec 07 458,555.00 Dec 22 486,225.00 Dec 08 447,284.00 Dec 26 466,510.00 Dec 11 437,458.00 Dec 27 442,559.00 Dec 12 495,065.00 Dec 28 618,339.00 Dec 13 425,520.00 Dec 29 402,112.46 Dec 14 477,683.00 Average Daily Ledger Balance 469,435.68 ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- Thank you for banking with Wells Fargo. Member FDIC • ' i WELLS FARGO BANKgN.A. INSTITUTIONAL TRUST SERVICES N9303 -08B 608 2ND AVENUE SOUTH 9 8TH FLOOR M I NNEAPOL I S s MN 55479 CITY OF BROOKLYN CENTER ACCOUNT NUMBER 13455300 ANNUAL STATEMENT JANUARY 19 2006 THROUGH DECEMBER 319 2006 ACCOUNT MANAGER: TERESA MATSON TELEPHONE NUMBER: 612 - 667 -5651 CEO# C I T Y OF BROOKLYN CENTER INVESTMENT CONTACT: NON— MANAGED TELEPHONE NUMBER: CHILGER @CI.BROOKLYN— CENTER.MN.US ADMINISTRATOR: ITS TX SERVICE CENTER TELEPHONE NUMBER: 1- 866- 706 -2809 00607 SN • ' i TABLE OF CONTENTS C I TY OF BROOKLYN CENTER FOR THE PERIOD JANUARY 1, 2006 THROUGH DECEMBER 31, 2006 ACCOUNT NUMBER 13455300 PAGE REPORT NAME NUMBER, ASSETSUMMARY ................................................... ............................... 1 STATEMENT OF ASSETS AND LIABILITIES ............................. ............................... 2 CASHSUMMARY .................................................... ............................... 3 STATEMENT OF TRANSACTIONS ....................................... ............................... 4 • i PAGE 1 ASSET SUMMARY C I TY OF BROOKLYN CENTER AS OF DECEMBER 31, 2006 ACCOUNT NUMBER 13455300 ASSET SUMMARY % TOTAL UNREALIZED ESTIMATED CURRENT ACCRUED INVESTMENT CATEGORY COST VALUE MARKET VALUE MARKET GAIN /LOSS ANNUAL INCOME YIELD INCOME CASH 0.00 0.00 0.00 CASH EQUIVALENTS 2599959144.00 2599959144.00 93.53 0.00 1,270 151 4.89 1079034.23 BONDS AND NOTES 198499367.50 197989385.00 6.47 509982.50- 639750 3.54 21, 975.70 TOTAL I NV ESTMENTS 27 844, 511.50 2797939529.00 100.00 509982.50- 193339901 4.80 129 009.93 TOTAL ACCRUALS 129 009.93 129 009.93 TOTAL ACCRUALS AND INVESTMENTS 2799739521.43 2799229538.93 509982.50- 193339901 4.80 129 009.93 • i PAGE 2 STATEMENT OF ASSETS AND L I A B I L I T I E S C I TY OF BROOKLYN CENTER AS OF DECEMBER 31, 2006 ACCOUNT NUMBER 13455300 STATEMENT OF ASSETS AND LIABILITIES COST VALUE MARKET VALUE % TOTAL UNREALIZED PAR VALUE /SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN /LOSS ACCRUED INCOME PRINCIPAL CASH 1393209821.85- 1393209821.85- 47.93 - INCOME CASH 1393209821.85 1393209821.85 47.93 CASH EQUIVALENTS 2599959144 WELLS FARGO ADVANTAGE GOVERNMENT 2599959144.00 2599959144.00 93.53 0.00 1079034.23 MONEY MARKET SERVICE- #743 1.000 1.000 TOTAL CASH EQUIVALENTS 2599959144.00 2599959144.00 93.53 0.00 1079034.23 BOND & NOTES 833333.33 FED HOME LN BK SER DE08 8449737.50 820 575.00 2.95 249162.50- 129586.81 DTD 02/06/03 3.750 02/06/2008 101.369 98.469 MOODY 'S RATING AAA CUSIP 3133MVNP4 190009000 FED NATL MTG ASSN 1, 004, 630.00 977 810.00 3.52 269820.00- 99388.89 DTD 03Z17/03 3.250 03/17/2008 100.463 97.781 MOODY 'S RATING AAA CUS I P 3136F3CT1 TOTAL BOND & NOTES 19849367.50 19798385.00 6.47 509982.50- 219975.70 TOTAL INVESTMENTS 2798449511.50 2727939529.00 100.00 509982.50- 129 009.93 TOTAL ACCRUALS 129 009.93 129 009.93 TOTAL ACCRUALS AND INVESTMENTS 2799739521.43 2799229538.93 • i PAGE 3 CASH SUMMARY C I TY OF BROOKLYN CENTER FOR THE PERIOD JANUARY 1, 2006 THROUGH DECEMBER 31, 2006 ACCOUNT NUMBER 13455300 CASH SUMMARY DESCRIPTION PRINCIPAL CASH INCOME CASH BEGINNING BALANCE 1291429531.95- 1291429531.95 RECEIPTS NET INTEREST COLLECTED 0.00 19178289.90 CASH MANAGEMENT SALES 19065.62 0.00 TOTAL CASH RECEIPTS 19065.62 1,178 289.90 DISBURSEMENTS ADM I N I STRAT I VE EXPENSES 19065.62- 0.00 CASH MANAGEMENT PURCHASES 19178289.90- 0.00 TOTAL CASH DISBURSEMENTS 191799355.52- 0.00 ENDING BALANCE 1393209821.85- 1393209821.85 . • PAGE 4 STATEMENT OF TRANSACTIONS CITY OF BROOKLYN CENTER FOR THE PERIOD JANUARY 1, 2006 THROUGH DECEMBER 31, 2006 ACCOUNT NUMBER 13455300 STATEMENT OF TRANSACTIONS REALIZED DATE PAR VALUE /SHARES DESCRIPTION PRINCIPAL CASH INCOME CASH COST VALUE GAIN /LOSS BEGINNING BALANCE 1291429531.95- 1291429531.95 2696679287.22 01/03/06 INTEREST RECEIVED 749182.65 WF ADV GOVERNMENT MM FD -SVC #743 INTEREST FROM 12/1/05 TO 12/31/05 01/20/06 ADMINISTRATIVE FEE[EXPENSE 290.47- WELLS FARGO BANK FEE 02/01/06 INTEREST RECEIVED 809722.01 WF ADV GOVERNMENT MM FD -SVC #743 INTEREST FROM 1/1/06 TO 1/31/06 02/06/06 INTEREST RECEIVED 159625.00 FED HOME LN BK 3.750% 2/06/08 CUSIP 3133MVNP4 INTEREST ON 833 333.330 UNITS 03/01/06 INTEREST RECEIVED 769561.10 WF ADV GOVERNMENT MM FD -SVC #743 INTEREST FROM 2/1/06 TO 2/28/06 03/17/06 INTEREST RECEIVED 169250.00 FED NATL MTG ASSN 3.250% 3/17/08 CUSIP 3136F3CT1 INTEREST ON 1,000 000.000 UNITS 04/03/06 INTEREST RECEIVED 879855.42 WF ADV GOVERNMENT MM FD -SVC #743 INTEREST FROM 3/1/06 TO 3/31/06 04/20/06 ADMINISTRATIVE FEE[EXPENSE 260.26- WELLS FARGO BANK FtE . • PAGE 5 STATEMENT OF TRANSACTIONS CITY OF BROOKLYN CENTER FOR THE PERIOD JANUARY 1, 2006 THROUGH DECEMBER 31, 2006 ACCOUNT NUMBER 13455300 STATEMENT OF TRANSACTIONS REALIZED DATE PAR VALUE /SHARES DESCRIPTION PRINCIPAL CASH INCOME CASH COST VALUE GAIN /LOSS 05/01/06 INTEREST RECEIVED 899077.27 WF ADV GOVERNMENT MM FD -SVC #743 INTEREST FROM 4/1/06 TO 4/30/06 06/01/06 INTEREST RECEIVED 959130.02 WF ADV GOVERNMENT MM FD -SVC #743 INTEREST FROM 5/1/06 TO 5/31/06 07/03/06 INTEREST RECEIVED 949556.82 WF ADV GOVERNMENT MM FD -SVC #743 INTEREST FROM 6/1/06 TO 6/30/06 07/20/06 ADMINISTRATIVE FEE[EXPENSE 254.08- WELLS FARGO BANK FtE 08/01/06 INTEREST RECEIVED 1029267.35 WF ADV GOVERNMENT MM FD -SVC #743 INTEREST FROM 7/1/06 TO 7/31/06 08/07/06 INTEREST RECEIVED 159625.00 FED HOME LN BK 3.750% 2/06/08 CUSIP 3133MVNP4 INTEREST ON 833 333.330 UNITS 09/01/06 INTEREST RECEIVED 1039683.51 WF ADV GOVERNMENT MM FD -SVC #743 INTEREST FROM 8/1/06 TO 8/31/06 09/18/06 INTEREST RECEIVED 169250.00 FED NATL MTG ASSN 3.250 3/17/08 CUSIP 3136F3CT1 INTEREST ON 1,000,000.000 UNITS 10/02/06 INTEREST RECEIVED 1019752.99 WF ADV GOVERNMENT MM FD -SVC #743 INTEREST FROM 9/1/06 TO 9/30/06 • i PAGE 6 STATEMENT OF TRANSACTIONS C I TY OF BROOKLYN CENTER FOR THE PERIOD JANUARY 1, 2006 THROUGH DECEMBER 31, 2006 ACCOUNT NUMBER 13455300 STATEMENT OF TRANSACTIONS REALIZED DATE PAR VALUE /SHARES DESCRIPTION PRINCIPAL CASH INCOME CASH COST VALUE GAIN /LOSS 10/20/06 ADMINISTRATIVE FEE EXPENSE 260.81 - WELLS FARGO BANK F E 11/01/06 INTEREST RECEIVED 1059937.08 WF ADV GOVERNMENT MM FD -SVC #743 INTEREST FROM 10/1/06 TO 10/31/06 12/01/06 INTEREST RECEIVED 1029813.68 WF ADV GOVERNMENT MM FD -SVC #743 INTEREST FROM 11/1/06 TO 11/30/06 12/31/06 1,178 289.9 CASH SWEEP PURCHASES FOR STMT PERIOD 191789289.90- 1,178 289.90 WF ADV GOVERNMENT MM FD -SVC #743 16 TRANSACTIONS 12/31/06 19065.62- CASH SWEEP SALES FOR STMT PERIOD 19065.62 1,065.62 - WF ADV GOVERNMENT MM FD -SVC #743 4 TRANSACTIONS ENDING BALANCE 13,320,821.U- 13 , 320, $21. U 2Z$44, 511.5Q CITY OF BROOKLYN CENTER INTEREST BY FUND 12/31/2006 Interest on Change in Interest- Total Fund /Description Investments Fair Value Other Interest MAJOR FUNDS: GENERAL FUND 239 GENERAL 237, 710.99 1 - PAYROLL - - - SPECIAL REVENUE FUNDS: TIF DISTRICT #3 876 4 28.00 881 DEBT SERVICE FUND: SPECIAL ASSESSMENT BONDS 106 GO IMPROVEMENT BONDS -1996A 17 110.71 - GO IMPROVEMENT BONDS -1997A 3 26.99 - GO IMPROVEMENT BONDS -1998A 11 68.94 - GO IMPROVEMENT BONDS -1999A 11 78.99 - GO IMPROVEMENT BONDS -2000A 20 119.14 - GO IMPROVEMENT BONDS -2001A 14 85.72 - GO IMPROVEMENT BONDS -2003A 9 67.27 - GO IMPROVEMENT BONDS -2004C 15 95.44 - GO IMPROVEMENT BONDS -2006A 2 45.26 - ENTERPRISE FUNDS: MUNICIPAL LIQUOR MUNICIPAL LIQUOR 36, 884.95 210.54 - 37, 095.49 GOLF COURSE CENTERBROOK GOLF COURSE 2 7.81 - 2 EARLE BROWN HERITAGE CENTER EARLE BROWN HERITAGE CENTER 46 258.87 - 46 WATER UTILITY WATER UTILITY 66 417.24 - 67 SANITARY SEWER UTILITY SANITARY SEWER UTILITY 105 440.78 - 106 STORM SEWER UTILITY STORM SEWER UTILITY 70 309.74 - 70 1 CITY OF BROOKLYN CENTER INTEREST BY FUND 12/31/2006 Interest on Change in Interest- Total Fund /Description Investments Fair Value Other Interest NONMAJOR FUNDS: SPECIAL REVENUE FUNDS: H RA - - - - E DA 75, 624.28 417.17 - 76, 041.45 CDBG - - - - EARLE BROWN TIF DISTRICT 32 TIF DISTRICT #1 11 93.99 - TIF DISTRICT #2 20 195.92 - TIF DISTRICT #4 598.96 21.85 - 620.81 POLICE FORFEITURE 1 11.21 - 1 CITY INITIATIVES GRANT 6 31.73 - 6 TOTAL SPECIAL REVENUE FUNDS 117 DEBT SERVICE FUND: GENERAL OBLIGATION BONDS 28 GO BLDG BONDS - POL &FIRE REF - 2004A 28 251.49 - GO TAX INCREMENT BONDS - GO TAX INCREMENT REF -2004B - - - GO TAX INCREMENT BONDS -2004D - - - TOTAL DEBT SERVICE FUNDS 28 CAPITAL PROJECTS FUNDS: CAPITAL RESERVE EMERGENCY FUND 50 303.97 - 51 CAPITAL IMPROVEMENTS FUND 34 144.76 - 34 INFRASTRUCTURE CONSTRUCTION - - 880.63 880.63 MUNICIPAL STATE AID CONSTRUCT 19 60.21 - 19 EBHC CAPITAL FUND 10 59.77 - 10 STREET RECONSTRUCTION 91 415.94 - 91 TECHNOLOGY FUND 18 111.45 - 18 TOTAL CAPITAL PROJECT FUNDS 227 ENTERPRISE FUNDS: RECYCLING 1 1.24 - 1 STREET LIGHT UTILITY 5 23.43 - 5 TOTAL ENTERPRISE FUNDS 7 2 CITY OF BROOKLYN CENTER INTEREST BY FUND 12/31/2006 Interest on Change in Interest- Total Fund /Description Investments Fair Value Other Interest INTERNAL SERVICE FUNDS: CENTRAL GARAGE 219, 630.19 1 - 220, 780.40 EMPLOYEE RETIREMENT BENEFIT 66 343.96 - 66 COMPENSATED ABSENCES 39 200.94 - 39 TOTAL INTERNAL SERVICE FUNDS 326 TOTAL ALL FUNDS 2, 252, 384.53 12, 400.00 908.63 2, 265, 693.16 TOTAL ALL FUNDS FROM STATEMENT 2 Governmental 1 Business -Type 337 2,265,693.00 3 CITY OF BROOKLYN CENTER INTEREST RECEIVABLE 12/31/06 Accrual Date Days 2006 Type of Purchase Maturity Interest Purchase Par Last interest since last Accrued Investment Date Date Rate Price Value received /paid interest pymt Interest WELLS FARGO TRUST MONEY MARK DEC 31ST VALUE 11/30/2006 Monthly 107 FED HOME LOAN BANK 06/25/2003 02/06/2008 3.750% 844 833 08/06/2006 147.00 12 FED NATL MORT ASSN 06/25/2003 03/17/2008 3.250% 1 1 09/17/2006 105.00 9 WF GENERAL CHECKING (SWEEP) - 1, 849, 367.50 128, 969.17 City of Brooklyn Center Cash and Investments YE 12 -31 -06 Total Deposits Change in Account Int. Accrued fair value Fair Value at Savings & Bank or Institution Number Rate Cost interest 2007 yearend Checking Money Markets CD's 14 Money Market Account MN -01- 0026 -0001 4M 10,358,364.38 10,358,364.38 10,358,364.38 14 Money Market Account MN -01- 0026 -2001 4M Plus 16,072,107.32 16,072,107.32 16,072,107.32 0.00 0.00 14 Money Market Account WF Trust 25,995,144.00 107,034.23 26,102,178.23 26,102,178.23 2 US Government Securities FHLB 3.750% 844,737.50 12,585.62 - 24,162.50 833,160.62 2 US Government Securities FNMA 3.250% 1,004,630.00 9,349.32 - 26,820.00 987,159.32 0.00 0.00 0.00 Total Investments in Investment Fund 54,274,983.20 128,969.17 (50,982.50) 54,352,969.87 12 Checking Account 000 - 1000016 general 86,942.17 86,942.17 12 Checking Account 000 - 1000008 payroll 0.00 0.00 11 Cash on Hand (Petty Cash and Change Funds) 8,125.00 Total cash per financial statements 54,274,983.20 128,969.17 (50,982.50) 54,448,037.04 86,942.17 52,532,649.93 0.00 per statements 54,448,038 FV GASB 31 sch 54,352,969.87 FV this schedule 54,352,969.87 difference (0.96) difference 0.00 City of Brooklyn Center YE Investment Balances Cash and Investments 3/22/2010 YE 12 -31 -06 03:03 PM Fair Custodial Credit Risk Value of Account Int. Investments Petty Cash and Bank or Institution Number Rate 1 2 3 Change Funds 14 Money Market Account MN -01- 0026 -0001 4M 10,358,364.38 14 Money Market Account MN -01- 0026 -2001 4M Plus 16,072,107.32 0.00 0.00 0.00 0.00 14 Money Market Account WF Trust 26,102,178.23 2 US Government Securities FHLB 3.750% 833,160.62 0.00 833,160.62 2 US Government Securities FNMA 3.250% 987,159.32 0.00 987,159.32 0.00 0.00 0.00 0.00 0.00 0.00 Total Investments in Investment Fund 1,820,319.94 0.00 54,352,969.87 0.00 12 Checking Account 000 - 1000016 general 86,942.17 12 Checking Account 000 - 1000008 payroll 0.00 0.00 11 Cash on Hand (Petty Cash and Change Funds) 8,125.00 8,125.00 Total cash per financial statements 1,820,319.94 0.00 0.00 54,448,037.04 8,125.00 CITY OF BROOKLYN CENTER CASH AND INVESTMENT BALANCES BY MONTH 2006 FUND NAME Jan Feb Mar Apr May Jun Jul 10100 GENERAL $ 6, 697, 021.77 $ 5, 879, 947.95 $ 5, 018, 695.88 $ 3, 946, 606.69 $ 3,083,189.89 $ 6, 095, 031.75 $ 6, 613, 386.99 46321 H RA 588.24 588.24 588.24 588.24 588.24 588.24 122, 362.23 46310 EDA 1,636,777.08 1,633,570.38 1,625,117.40 1,707,337.13 1,697,063.96 1,687,460.35 1,663,221.18 46323 CDBG - - - - - - - 42190 POLICE FORFEITURE 39,513.95 40,674.16 38,542.60 37,516.44 34,307.54 34,035.08 39,607.24 46411 TIF DISTRICT #1 187,191.91 187,520.35 187,490.00 188,114.37 188,755.57 189,412.45 290,114.54 46412 TIF DISTRICT #2 243,137.36 243,418.89 243,232.98 244,042.99 244,004.28 243,967.62 543,284.77 46413 TIF DISTRICT #3 21, 085, 662.17 21, 035, 909.07 20, 824, 573.56 20, 871, 987.63 20, 823, 838.52 19, 017, 671.42 19, 758, 323.35 46414 TIF DISTRICT #4 - - - - - - - 28600 CITY INITIATIVES GRANT 129,147.10 116,626.76 160,799.84 155,842.57 167,592.96 141,400.51 153,103.07 TOTAL SPECIAL REV 23, 322, 017.81 23, 258, 307.85 23, 080, 344.62 23, 205,429.37 23,156,151.07 21, 314, 535.67 22, 570, 016.38 47512 GO IMP BONDS -1995B - - - - - - - 47513 GO IMP BONDS -1996A 347,390.73 347,787.03 348,193.72 346,603.27 347,784.70 348,620.01 422,420.07 47514 GO IMP BONDS -1997A 53,401.81 53,791.83 53,897.78 55,537.73 55,727.04 55,858.47 83,482.67 47517 GO STATE AID RD REF -19988 - - - - - - - 47516 GO IMP BONDS -1998A 224,021.26 225,506.32 222,890.22 223,632.48 224,394.75 228,154.46 257,471.69 47518 GO IMP BONDS -1999A 205, 360.95 205, 928.27 205, 886.63 207, 844.27 210, 238.73 210, 970.37 268, 956.06 47519 GO IMP BONDS -2000A 438,093.77 436,146.44 437,186.77 442,414.68 447,106.69 449,818.65 470,640.59 47520 GO IMP BONDS-2001A 300, 535.24 301, 062.55 300, 970.69 302, 347.97 306, 043.55 310,148.60 332, 814.49 47521 GO IMP BONDS -2003A 156, 283.23 161,438.44 160, 587.64 163, 036.42 165, 506.14 166, 082.11 232, 532.00 47522 GO IMP BONDS -2004C 311,085.70 311,631.52 310,949.56 311,985.08 313,622.51 317,037.94 338,176.93 47523 GO BLDG REF -POL &FIRE 2004, 402,766.37 403,473.05 404,014.40 405,359.84 406,741.54 408,157.03 726,003.88 47524 GO IMP BONDS -2006A - - - - - - - 47611 GO TIF BONDS -1991A - - - - - - - 47612 GO TIF BONDS -1992A - - - - - - - 47613 GO TIF BONDS -1995A - - - - - - - 47614 GO TIF REF -2004B - - - - - - - 47615 GO TIF BONDS -2004D - - - - - - - TOTAL DEBT SERVICE 2,438,939.06 2,446,765.45 2,444,577.41 2,458,761.74 2,477,165.65 2,494,847.64 3,132,498.38 40100 CAPITAL IMPROVEMENTS 883,745.78 885,134.77 887,045.55 889,727.97 898,236.77 803,905.53 812,388.33 40200 MUNICIPAL STATE AID CONST 157,066.31 215,929.37 216,606.64 217,242.49 216,185.79 595,464.54 636,134.18 40600 CAPITAL RESERVE EMERGENT 1,006,371.45 1,008,137.20 1,011,299.27 1,088,799.75 1,092,511.02 1,096,313.03 1,100,119.28 40700 INFRASTRUCTURE CONSTRU( - - - - - - - 40800 EBHC CAPITAL 2,511.25 2,907.46 302,296.80 303,303.50 304,337.34 305,396.45 253,045.26 40900 STREET RECONSTRUCTION 1,847,208.56 1,850,449.61 1,856,253.63 1,928,755.06 2,037,604.70 2,044,695.69 2,114,702.62 41000 TECHNOLOGY 381,249.14 403,937.52 404,770.02 406,117.97 405,716.22 407,128.14 408,541.63 TOTAL CAPITAL PROJECTS 4,278,152.49 4,366,495.93 4,678,271.91 4,833,946.74 4,954,591.84 5,252,903.38 5,324,931.30 49141 WATER UTILITY 1,349,232.79 1,467,466.08 1,416,468.95 1,314,407.03 1,258,883.65 1,300,417.29 1,432,906.58 49251 SEWER UTILITY 2,011,574.08 2,027,345.75 2,139,167.11 2,219,200.17 2,390,290.56 2,344,523.29 2,540,785.61 4961111'e BROOKLYN CENTER LIQUOR 671,696.61 709,858.03 666,740.97 733,410.64 799,105.47 780,112.65 863,055.24 49721 CENTERBROOK GOLF COURSI 34,944.76 28,091.79 29,106.36 38,200.72 50,759.74 59,851.15 72,233.52 49851 EARLE BROWN HERITAGE CEI 1,101,477.01 1,037,992.96 736,143.02 787,893.25 1,125,290.40 1,080,931.13 1,190,844.57 49411 STORM SEWER UTILITY 1,204,614.43 1,279,347.67 1,349,806.55 1,446,036.67 1,542,812.84 1,562,234.48 1,672,783.29 49571 STREET LIGHT UTILITY 109,962.19 107,198.60 109,826.24 115,580.52 127,466.21 123,582.64 131,326.50 49311 RECYCLING 35,640.97 31,525.87 33,749.75 35,402.67 43,037.95 32,805.96 34,043.94 TOTAL ENTERPRISE S 6,519,142.84 6,688,826.75 6,481,008.95 6,690,131.67 7,337,646.82 7,284,458.59 7,937,979.25 49951 CENTRAL GARAGE 5, 049, 519.72 4, 943, 650.96 4,806,476.22 4, 905, 567.90 4, 895, 252.83 4, 996, 393.37 4, 897, 648.36 49961 EMPLOYEE RETIREMENT BENI 1,498,828.21 1,489,842.68 1,491,564.33 1,492,712.42 1,491,041.44 1,493,196.29 1,491,396.91 49971 COMPENSATED ABSENCES 919,112.58 920,725.23 900,714.91 903,714.45 906,794.84 909,950.54 888,706.52 TOTAL INTERNAL SER FND 7,467,460.51 7,354,218.87 7,198,755.46 7,301,994.77 7,293,089.11 7,399,540.20 7,277,751.79 GRAND TOTAL $ 50,722,734.48 $ 49,994,562.80 $ 48,901,654.23 $ 48,436,870.98 $ 48,301,834.38 $ 49,841,317.23 $ 52,856,564.09 90400 PAYROLL 21,169.87 20,449.69 (76,872.61) 413,010.83 425,299.90 (11,594.62) (7,241.42) NEGATIVE BALANCES (608,413.99) (652,728.57) (737,357.28) (742,789.77) (838,793.60) (1,003,396.65) (1,539,426.88) TOTAL POOLED C & 1 $ 50,135,490.36 $ 49,362,283.92 $ 48,087,424.34 $ 48,107,092.04 $ 47,888,340.68 $ 48,826,325.96 $ 51,309,895.79 INTEREST TO BE ALLOCATED SOURCE OF INTEREST Jan Feb Mar Apr May Jun Jul 90300 INTEREST ON INVESTMENTS $ 88,996.54 $ 156,810.18 $ 162,851.04 $ 165,101.36 $ 168,093.46 $ 173,042.06 $ 196,143.83 MARKET INTEREST -FAIR VALU - - - - - - - ACCRUED INTEREST - - - - - - - TOTAL INTEREST $ 88,996.54 $ 156,810.18 $ 162,851.04 $ 165,101.36 $ 168,093.46 $ 173,042.06 $ 196,143.83 1 CITY OF BROOKLYN CENTER INTEREST ALLOCATION BY MONTH 2005 BU FUND NAME Jan Feb Mar Apr May Jun Jul 10100 GENERAL $ 11,750.38 $ 18,442.72 $ 16,713.16 $ 13,452.37 $ 10,729.72 $ 21,161.09 $ 24,541.39 46321 H RA - - - - - - - 46310 E DA 2,872.87 5,125.61 5,413.88 5,821.61 5,907.94 5,860.67 6,626.07 46323 CDBG - - - - - - - 42190 POLICE FORFEITURE 69.33 127.58 128.35 127.88 119.39 118.17 146.98 46411 TIF DISTRICT #1 328.44 588.17 624.37 641.20 656.88 657.61 1,076.58 46412 TIF DISTRICT #2 426.60 763.49 810.01 831.84 849.15 847.02 2,016.06 46413 TIF DISTRICT #3 36,996.25 65,980.07 69,349.46 71,144.02 72,468.28 66,026.69 73,320.57 46414 TIF DISTRICT #4 - - - - - - - 28600 CITY INITIATIVES GRANT 226.60 365.81 535.49 531.20 583.23 490.92 568.15 TOTAL SPECIAL REV 40,920.09 72,950.73 76,861.56 79,097.75 80,584.87 74,001.08 83,754.41 47512 GO IMP BONDS -1995B - - - - - - - 47513 GO IMP BONDS -1996A 609.52 1,090.85 1,159.55 1,181.43 1,210.31 1,210.36 1,567.55 47514 GO IMP BONDS -1997A 93.70 168.72 179.49 189.31 193.93 193.93 309.79 47517 GO STATE AID RD REF -19988 - - - - - - - 47516 GO IMP BONDS -1998A 393.06 707.31 742.26 762.27 780.91 792.12 955.44 47518 GO IMP BONDS -1999A 360.32 645.90 685.64 708.46 731.64 732.46 998.06 47519 GO IMP BONDS -2000A 768.67 1,367.99 1,455.91 1,508.01 1,555.96 1,561.71 1,746.49 47520 GO IMP BONDS-2001A 527.31 944.30 1,002.28 1,030.58 1,065.05 1,076.79 1,235.03 47521 GO IMP BONDS -2003A 274.21 506.36 534.78 555.72 575.97 576.61 862.90 47522 GO IMP BONDS -2004C 545.82 977.45 1,035.52 1,063.43 1,091.43 1,100.71 1,254.93 47523 GO BLDG REF -POL &FIRE 2004, 706.68 1,265.51 1,345.44 1,381.70 1,415.49 1,417.06 2,694.11 47524 GO IMP BONDS -2006A - - - - - - - 47611 GO TIF BONDS -1991A - - - - - - - 47612 GO TIF BONDS -1992A - - - - - - - 47613 GO TIF BONDS -1995A - - - - - - - 47614 GO TIF REF -2004B - - - - - - - 47615 GO TIF BONDS -2004D - - - - - - - TOTAL DEBT SERVICE 4,279.29 7,674.39 8,140.87 8,380.91 8,620.69 8,661.75 11,624.30 40100 CAPITAL IMPROVEMENTS 1,550.59 2,776.26 2,954.02 3,032.72 3,125.92 2,791.05 3,014.67 40200 MUNICIPAL STATE AID CONST 275.58 677.27 721.34 740.49 752.34 2,067.37 2,360.61 40600 CAPITAL RESERVE EMERGENT 1,765.75 3,162.07 3,367.80 3,711.27 3,802.01 3,806.25 4,082.40 40700 INFRASTRUCTURE CONSTRUC - - - - - - - 40800 EBHC CAPITAL 4.41 9.12 1,006.70 1,033.84 1,059.11 1,060.29 939.02 40900 STREET RECONSTRUCTION 3,241.05 5,804.02 6,181.65 6,574.33 7,090.99 7,098.90 7,847.39 41000 TECHNOLOGY 668.93 1,266.97 1,347.95 1,384.29 1,411.92 1,413.49 1,516.04 TOTAL CAPITAL PROJECTS 7,506.31 13,695.71 15,579.46 16,476.94 17,242.29 18,237.35 19,760.13 49141 WATER UTILITY 2,367.32 4,602.77 4,717.09 4,480.27 4,381.00 4,514.87 5,317.33 49251 SEWER UTILITY 3,529.45 6,358.86 7,123.80 7,564.34 8,318.36 8,139.86 9,428.52 4961111'e BROOKLYN CENTER LIQUOR 1,178.54 2,226.50 2,220.36 2,499.90 2,780.94 2,708.44 3,202.69 49721 CENTERBROOK GOLF COURSI 61.31 88.11 96.93 130.21 176.65 207.79 268.05 49851 EARLE BROWN HERITAGE CEI 1,932.62 3,255.71 2,451.48 2,685.60 3,916.08 3,752.84 4,419.07 49411 STORM SEWER UTILITY 2,113.58 4,012.73 4,495.09 4,928.94 5,369.09 5,423.86 6,207.48 49571 STREET LIGHT UTILITY 192.94 336.23 365.74 393.97 443.59 429.06 487.34 49311 RECYCLING 62.53 98.88 112.39 120.67 149.77 113.90 126.33 TOTAL ENTERPRISE 11,438.29 20,979.79 21,582.88 22,803.90 25,535.48 25,290.62 29,456.81 49951 CENTRAL GARAGE 8,859.73 15,505.98 16,006.40 16,721.06 17,035.79 17,346.78 18,174.54 49961 EMPLOYEE RETIREMENT BENI 2,629.80 4,672.96 4,967.17 5,088.04 5,188.92 5,184.17 5,534.38 49971 COMPENSATED ABSENCES 1,612.65 2,887.90 2,999.54 3,080.39 3,155.70 3,159.22 3,297.87 TOTAL INTERNAL SERVICE 13,102.18 23,066.84 23,973.11 24,889.49 25,380.41 25,690.17 27,006.79 $ 88, 996.54 $ 156, 810.18 $ 162, 851.04 $ 165,101.36 $ 168, 093.46 $ 173, 042.06 $ 196,143.83 2 CITY OF BROOKLYN CENTER CASH AND INVESTMENT BALANCES BY MONTH 2006 Change in FUND NAME Aug Sep Oct Nov Dec TOTAL Fair Value 10100 GENERAL $ 5,668,621.83 $ 5,002,084.47 $ 4,303,366.98 $ 3,409,243.98 $ 7,628,865.83 $ 7,628,865.83 46321 H RA 122, 362.23 122, 362.23 130,115.23 130,115.23 - - 46310 E DA 1,588,123.44 1, 574, 564.10 1,554,495.28 1, 548, 321.80 1, 808, 850.03 1, 808, 850.03 46323 CDBG - - - - - - 42190 POLICE FORFEITURE 39,058.49 48,700.48 48,459.04 48,637.23 48,590.61 48,590.61 46411 TIF DISTRICT #1 291,191.12 292,393.38 293,605.07 294,684.69 407,551.24 407,551.24 46412 TIF DISTRICT #2 544,359.09 546,316.44 547,032.76 548,754.08 849,506.43 849,506.43 46413 TIF DISTRICT #3 19,793,830.46 18,840,356.83 18,816,342.85 18,828,810.75 19,329,230.48 19,329,230.48 46414 TIF DISTRICT #4 - - - - 94,761.39 94,761.39 28600 CITY INITIATIVES GRANT 147,058.23 139,349.07 137,473.47 143,134.42 137,568.95 137,568.95 TOTAL SPECIAL REV 22, 525, 983.06 21, 564, 042.53 21, 527, 523.70 21, 542,458.20 22, 676, 059.13 22, 676, 059.13 47512 GO IMP BONDS -1995B - - - - - - 47513 GO IMP BONDS -1996A 423,987.62 425,738.17 427,502.44 405,467.31 480,049.54 480,049.54 47514 GO IMP BONDS -1997A 83,792.46 84,138.42 84,487.09 84,797.76 117,024.82 117,024.82 47517 GO STATE AID RD REF -19988 - - - - - - 47516 GO IMP BONDS -1998A 259,319.13 261,481.80 264,194.19 265,165.66 298,907.04 298,907.04 47518 GO IMP BONDS -1999A 270,797.12 272,542.55 273,671.98 274,678.30 342,486.88 342,486.88 47519 GO IMP BONDS -2000A 476,727.08 478,695.38 481,835.11 486,785.87 516,608.44 516,608.44 47520 GO IMP BONDS -2001A 337,089.52 338,481.29 341,403.97 343,875.35 371,689.22 371,689.22 47521 GO IMP BONDS -2003A 233,394.90 236,272.54 239,165.66 225,219.55 291,668.91 291,668.91 47522 GO IMP BONDS -2004C 342,778.11 347,151.77 348,590.38 366,611.74 413,838.86 413,838.86 47523 GO BLDG REF -POL &FIRE 2004, 728,697.99 731,706.62 734,738.84 737,440.56 1,090,459.11 1,090,459.11 47524 GO IMP BONDS -2006A - 120,501.84 128,147.07 137,039.77 196,255.26 196,255.26 47611 GO TIF BONDS -1991A - - - - - - 47612 GO TIF BONDS -1992A - - - - - - 47613 GO TIF BONDS -1995A - - - - - - 47614 GO TIF REF -2004B - - - - - - 47615 GO TIF BONDS -2004D - - - - - - TOTAL DEBT SERVICE 3,156,583.93 3,296,710.38 3,323,736.73 3,327,081.87 4,118,988.08 4,118,988.08 40100 CAPITAL IMPROVEMENTS 803,241.19 799,849.16 792,189.72 542,605.41 627,673.42 627,673.42 40200 MUNICIPAL STATE AID CONST 650,370.85 635,158.84 637,790.96 640,136.19 261,084.90 261,084.90 40600 CAPITAL RESERVE EMERGENT 1,104,201.68 1,108,760.69 1,308,276.58 1,313,087.26 1,317,995.18 1,317,995.18 40700 INFRASTRUCTURE CONSTRU( - - - - - - 40800 EBHC CAPITAL 253,657.62 254,704.92 255,760.43 258,200.89 259,165.97 259,165.97 40900 STREET RECONSTRUCTION 2,219,038.39 2,228,200.31 2,403,317.46 2,412,154.72 1,803,497.86 1,803,497.86 41000 TECHNOLOGY 410,057.67 411,750.71 413,457.02 413,450.54 483,264.81 483,264.81 TOTAL CAPITAL PROJECTS 5,440,567.40 5,438,424.63 5,810,792.17 5,579,635.01 4,752,682.14 4,752,682.14 49141 WATER UTILITY 1,436,118.28 1,606,432.13 1,670,586.81 1,710,759.25 1,809,156.00 1,809,156.00 49251 SEWER UTILITY 2,663,166.16 2,648,747.51 2,793,897.99 2,955,138.53 1,911,194.39 1,911,194.39 49611/1 'e BROOKLYN CENTER LIQUOR 867,360.51 925,406.64 981,776.52 875,266.17 912,854.30 912,854.30 49721 CENTERBROOK GOLF COURSI 82,958.36 68,492.38 56,151.95 44,985.53 33,863.97 33,863.97 49851 EARLE BROWN HERITAGE CEI 1,174,906.88 1,058,480.76 1,007,840.45 1,008,324.42 1,122,455.18 1,122,455.18 49411 STORM SEWER UTILITY 1,768,978.80 1,808,219.64 1,907,344.93 2,027,788.96 1,343,044.65 1,343,044.65 49571 STREET LIGHT UTILITY 142,850.67 140,836.77 147,420.90 159,136.64 101,573.09 101,573.09 49311 RECYCLING 42,128.99 32,898.30 33,531.55 41,682.34 5,392.98 5,392.98 TOTAL ENTERPRISE S 8,178,468.65 8,289,514.13 8,598,551.10 8,823,081.84 7,239,534.56 7,239,534.56 49951 CENTRAL GARAGE 5,063,605.95 4,933,665.66 5,085,138.58 4,924,436.80 4,987,288.08 4,987,288.08 49961 EMPLOYEE RETIREMENT BENI 1,490,321.63 1,491,101.60 1,490,799.92 1,491,115.88 1,491,386.04 1,491,386.04 49971 COMPENSATED ABSENCES 863,475.63 867,040.73 870,633.78 873,835.20 871,290.73 871,290.73 TOTAL INTERNAL SER FND 7,417,403.21 7,291,807.99 7,446,572.28 7,289,387.88 7,349,964.85 7,349,964.85 GRAND TOTAL $ 52,387,628.08 $ 50,882,584.13 $ 51,010,542.96 $ 49,970,888.78 $ 53,766,094.59 $ 53,766,094.59 90400 PAYROLL (41, 841.93) 406, 309.55 421, 354.23 442, 090.72 321, 859.45 321, 859.45 NEGATIVE BALANCES (2,053,183.47) (2,962,525.75) (4,008,412.96) (4,402,367.29) (234,494.32) (234,494.32) TOTAL POOLED C & 1 $ 50,292,602.68 $ 48,326,367.93 $ 47,423,484.23 $ 46,010,612.21 $ 53,853,459.72 $ 53,853,459.72 2005 Change in SOURCE OF INTEREST Aug Sep Oct Nov Dec TOTAL Fair Value 90300 INTEREST ON INVESTMENTS $ 216,297.06 $ 210,859.30 $ 187,571.40 $ 186,775.88 $ 210,873.25 $ 2,123,415.36 MARKET INTEREST -FAIR VALU - - - - - - 12,400.00 ACCRUED INTEREST - - - - 128,969.17 128,969.17 - TOTAL INTEREST $ 216,297.06 $ 210,859.30 $ 187,571.40 $ 186,775.88 $ 339,842.42 $ 2,252,384.53 $ 12,400.00 3 CITY OF BROOKLYN CENTER INTEREST ALLOCATION BY MONTH 2006 2006 Change in BU FUND NAME Aug Sep Oct Nov Dec TOTAL Fair Value 10100 GENERAL $ 23,404.51 $ 20,728.83 $ 15,823.93 $ 12,742.73 $ 48,220.16 $ 237,710.99 $ 1,759.45 46321 H RA - - - - - - - 46310 EDA 7,062.22 7,032.13 6,194.50 6,273.48 11,433.30 75,624.28 417.17 46323 CDBG - - - - - - - 42190 POLICE FORFEITURE 161.26 201.82 178.19 181.79 307.13 1,867.87 11.21 46411 TIF DISTRICT #1 1,202.26 1,211.69 1,079.62 1,101.44 2,576.03 11,744.29 93.99 46412 TIF DISTRICT #2 2,247.54 2,263.96 2,011.50 2,051.07 5,369.52 20,487.76 195.92 46413 TIF DISTRICT #3 81,724.40 78,075.13 69,189.77 70,376.33 122,175.37 876,826.34 4,457.87 46414 TIF DISTRICT #4 - - - - 598.96 598.96 21.85 28600 CITY INITIATIVES GRANT 607.17 577.47 505.51 534.99 869.54 6,396.08 31.73 TOTAL SPECIAL REV 93,004.85 89,362.20 79,159.09 80,519.10 143,329.85 993,545.58 5,229.74 47512 GO IMP BONDS -1995B - - - - - - - 47513 GO IMP BONDS -1996A 1,750.55 1,764.27 1,571.97 1,515.51 3,034.28 17,666.15 110.71 47514 GO IMP BONDS -1997A 345.96 348.67 310.67 316.95 739.69 3,390.81 26.99 47517 GO STATE AID RD REF -19988 - - - - - - - 47516 GO IMP BONDS -1998A 1,070.67 1,083.59 971.47 991.11 1,889.32 11,139.53 68.94 47518 GO IMP BONDS -1999A 1,118.06 1,129.43 1,006.32 1,026.66 2,164.78 11, 307.73 78.99 47519 GO IMP BONDS -2000A 1,968.30 1,983.73 1,771.76 1,819.46 3,265.36 20,773.35 119.14 47520 GO IMP BONDS -2001A 1,391.77 1,402.68 1,255.38 1,285.30 2,349.36 14,565.83 85.72 47521 GO IMP BONDS -2003A 963.64 979.12 879.44 841.80 1,843.57 9,394.12 67.27 47522 GO IMP BONDS -2004C 1,415.26 1,438.61 1,281.81 1,370.28 2,615.77 15,191.02 95.44 47523 GO BLDG REF -POL &FIRE 2004, 3,008.63 3,032.22 2,701.72 2,756.33 6,892.53 28,617.42 251.49 47524 GO IMP BONDS -2006A - 499.36 471.21 512.21 1,240.48 2,723.26 45.26 47611 GO TIF BONDS -1991A - - - - - - - 47612 GO TIF BONDS -1992A - - - - - - - 47613 GO TIF BONDS -1995A - - - - - - - 47614 GO TIF REF -2004B - - - - - - - 47615 GO TIF BONDS -2004D - - - - - - - TOTAL DEBT SERVICE 13,032.84 13,661.68 12,221.75 12,435.61 26,035.14 134,769.22 949.95 40100 CAPITAL IMPROVEMENTS 3,316.41 3,314.60 2,912.97 2,028.09 3,967.37 34,784.67 144.76 40200 MUNICIPAL STATE AID CONST 2,685.24 2,632.12 2,345.23 2,392.63 1,650.25 19,300.47 60.21 40600 CAPITAL RESERVE EMERGENT 4,559.01 4,594.75 4,810.68 4,907.92 8,330.73 50,900.64 303.97 40700 INFRASTRUCTURE CONSTRUC - - - - - - - 40800 EBHC CAPITAL 1,047.30 1,055.51 940.46 965.08 1,638.13 10,758.97 59.77 40900 STREET RECONSTRUCTION 9,161.92 9,233.74 8,837.26 9,015.90 11,399.47 91,486.62 415.94 41000 TECHNOLOGY 1,693.04 1,706.31 1,520.33 1,545.35 3,054.60 18,529.22 111.45 TOTAL CAPITAL PROJECTS 22,462.92 22,537.03 21,366.93 20,854.97 30,040.55 225,760.59 1,096.10 49141 WATER UTILITY 5,929.42 6,657.11 6,142.93 6,394.29 11,435.24 66,939.64 417.24 49251 SEWER UTILITY 10,995.63 10,976.51 10,273.47 11,045.40 12,080.20 105,834.40 440.78 49611/1 BROOKLYN CENTER LIQUOR 3,581.14 3,834.92 3,610.10 3,271.48 5,769.94 36,884.95 210.54 49721 CENTERBROOK GOLF COURSI 342.52 283.83 206.48 168.14 214.05 2,244.07 7.81 49851 EARLE BROWN HERITAGE CEI 4,850.93 4,386.38 3,705.94 3,768.81 7,094.77 46,220.23 258.87 49411 STORM SEWER UTILITY 7,303.73 7,493.33 7,013.52 7,579.25 8,489.06 70,429.66 309.74 49571 STREET LIGHT UTILITY 589.80 583.63 542.08 594.80 642.02 5,601.20 23.43 49311 RECYCLING 173.94 136.33 123.30 155.80 34.09 1,407.93 1.24 TOTAL ENTERPRISE 33,767.11 34,352.04 31,617.82 32,977.97 45,759.37 335,562.08 1,669.65 49951 CENTRAL GARAGE 20,906.52 20,445.29 18,698.62 18,406.04 31,523.44 219,630.19 1,150.21 49961 EMPLOYEE RETIREMENT BENI 6,153.21 6,179.18 5,481.84 5,573.33 9,426.69 66,079.69 343.96 49971 COMPENSATED ABSENCES 3,565.10 3,593.05 3,201.42 3,266.13 5,507.22 39,326.19 200.94 TOTAL INTERNAL SERVICE 30,624.83 30,217.52 27,381.88 27,245.50 46,457.35 325,036.07 1,695.11 $ 216,297.06 $ 210,859.30 $ 187,571.40 $ 186,775.88 $ 339,842.42 $ 2,252,384.53 $ 12,400.00 4 Member Kay Lasman introduced the following resolution and moved its adoption: RESOLUTION NO. 2006 -120 RESOLUTION ADOPTING AMENDMENTS TO THE FINANCIAL POLICIES SECTION OF THE BROOKLYN CENTER CITY COUNCIL CODE OF POLICIES WHEREAS, the City Council of the City of Brooklyn Center adopted a Code of Policies on August 14, 2006; and WHEREAS, revisions to the Sections 2.21 Financial Management Policies, 2.22 Investment Policy and 2.80 Policy and Procedure on Requests for Proposals for Financial Professional Services were proposed by staff, reviewed by the Financial Commission and recommended to the City Council for adoption; and WHEREAS, the City Council reviewed said revisions at a working session of the City Council on October 9, 2006; and NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Brooklyn Center that the revised Sections 2.21, 2.22 and 2.80 attached hereto as Exhibit I and recommended for incorporation into the Code of Policies by the Financial Commission be and hereby are adopted. October 23, 2006 Date M or ATTEST: City Clerk The motion for the adoption of the foregoing resolution was duly seconded by member Kathleen Carmody and upon vote being taken thereon, the following voted in favor thereof: Myrna Kragnes s , Kathleen Carmody, Kay Lasman , and Mary 0 t Connor ; and the following voted against the same: Diane Niesen; whereupon said resolution was declared duly passed and adopted. RESOLUTION 2006 -120 EXHIBIT I 2.21 Financial Management Policies 1. Purpose The City of Brooklyn Center has a responsibility to its citizens to carefully account for public funds, to manage municipal finances wisely, and to plan the adequate funding of services desired by the public, including the provision and maintenance of public facilities. The City also has the responsibility to its citizens to provide both short - terra and long -term future financial stability. The City must ensure that it is capable of adequately funding and providing local government services needed by the community. Further, the financial policies set forth herein, provide the basic framework for the overall fiscal management of the City. operating independently of changing circumstances and conditions, these policies assist the decision making process of the City Council and Administration. Most of the policies represent long- standing principles, traditions and practices which have guided the City in the past and have helped maintain financial stability over the ;past years. The financial policies will be reviewed periodically to ascertain if modifications are necessary. 2. objectives In order to achieve this purpose, this plan has the following objectives for the City's fiscal performance: A. To protect the City Council's policy - making ability by ensuring that important policy decisions are not controlled by financial problems or emergencies and to prevent financial difficulties. B. To provide sound principles to guide the important decisions of the City Council and of management which have significant fiscal impact and to enhance the City Council's policy- making ability by providing accurate information on program costs. C. To set forth operational principles which control the cost of local government, to the extent consistent with services desired by the public and which lower financial risk. D. To employ revenue policies which mitigate undue or unbalanced relianc e.: on certain revenues, especially property taxes; which distribute the costs of municipal services fairly; and which provide adequate funds to operate de;3ired program and assist sound management of the city government by providing accurate and timely information on financial conditions. E. To provide essential public facilities and prevent deterioration of the City's public facilities and its capital plant. RESOLUTION 2006 -120 EXHIBIT I F. To protect and enhance the City's credit rating and prevent default on any municipal debts. G. To ensure the legal use and protection of all City funds through a quality s)7stem of financial and internal controls. H. The City will maintain a Risk Management Program that will minimize the impact of legal liabilities, natural disasters or other emergencies. 3. Financial Management Policies A. Capital Improvement Budget Policies 1. The City will make all capital improvements in accordance with an adopted Capital Improvement Budget. 2. The City will develop a multi -year plan for capital improvements and update it at least biennially. 3. The City will adopt the annual Capital Improvements Budget based on the multi -year capital improvement plan. Future capital expenditures necessitated by changes in population, changes in real estate development, or changes in economic base will be calculated and included in Capital Budget projections. 4. The City will coordinate development of the Capital Improvement Budget with the development of the operating budget. Future operating costs associated with new capital improvements will be projected and included in operating budget forecasts. 5. The City will use intergovernmental assistance to finance only those capital improvements which are consistent with the adopted capital improvement plan and City priorities and for which operating and maintenance costs have been included in operating budget forecasts. 6. The City will project its equipment replacement and maintenance reeds for the next several years and will update this projection each year. From this projection, a maintenance and replacement schedule will be developed and followed. T The City staff will identify the estimated costs and potential funding sources for each capital project proposal before it is submitted to the City Council for approval. S. The City will determine the least costly financing method over the length' of all new projects. RESOLUTION 2006 -120 EXHIBIT I B. Revenue Policies 1. The City will attempt to maintain a diversified and stable revenue system to shelter it from short -run fluctuations in any one revenue source and to minimize property taxes. 2. The City will estimate its annual revenue by an objective conservative analytical process. 3. The City will project revenues for the next three years and will update: this projection annually. Each existing and potential revenue source will be reexamined annually. 4. The City will maintain sound appraisal procedures to keep property values correct. Property will be assessed at the legally mandated market value for each type of property. Reassessments will be made of all property at least every five years. 5. The City will follow an assertive policy of collecting property tax revenues. The annual level of uncollected property taxes should generally not exceed two percent. 6. Each year the City will recalculate the full costs of activities supported by user fees to identify the impact of inflation and other cost increases. 7. The City staff will recommend revised user fees with review by the City Council on an annual basis, to adjust for cost factors and inflation oil the City's cost of providing services. 8. The City will set fees and user charges for each Enterprise Fund, such as Water and Sewer, at a level which fully supports the total direct and indirect costs of the activity. Indirect costs include the cost of annual depreciation of capital assets. 9. User charges and fees determined to be appropriate for City services will generally be established at a level which will recover the full cost of providing the service, including administrative costs. C. Debt Policies 1. The City will confine long -term borrowing to capital improvements or projects which cannot be financed from current revenues. 2. when the City finances capital projects by issuing bonds, it will pay back the bonds within a period not to exceed the expected useful life of the project. 3. On all projects, at least 50% of the principal shall be retired within ten years. RESOLUTION 2006 -120 EXHIBIT I 4. The City will make every attempt to keep the average maturity of General Obligation Bonds at or below 20 years. 5. Total debt service payments for General obligation debt will not exceed five percent of total annual locally generated operating revenue in the general, special revenue, and proprietary funds. 6. Total outstanding General obligation debt will not exceed two percent of the market valuation of taxable property. 7. where possible, the City will use special assessment, revenue or other self - supporting bonds instead of General obligation Bonds. S. The City will not incur debt to support current operations. 9. The City will maintain good communications with bond rating agencies regarding its financial condition. The City will follow a policy of full disclosure in every financial report, official statement and bond prospectus. 10. Direct net -debt (gross debt less debt fully supported by non prcpero� tax revenues) per capita shall not exceed $600 per capita. 11. The City will require Minimum Assessment (Taxable Valuation) Agreements on all projects in which the City is providing development assistance through tax increment financing or committing its bonding authority. This will ensure minimal cash flow (increment) to repay obligations, provide another level of review before commitment (by the City Assessor), and to the minimal value agreed upon, eliminate: tax appeals during the agreement period. 12. For purposes of this section, tax increment revenues are classified as a non- property tax revenue source D. Reserve Policies 1. The City shall manage its cash flow needs by having a target unreserved and undesignated General Fund balance at the close of each fiscal year of 50 to 52% of the next year's General Fund operating budget. 2. Undesignated General Fund monies that are not required for cash flow purposes may be transferred into other funds as may be appropriate or needed during the fiscal year. It is specifically anticipated that transfers; will be made to the Street Reconstruction Fund, Capital Improvements Fund and the Technolo gy Fund when operating results generate a surplus of actual revenues over actual expenditures to serve as a recurring source of funding for those three funds. RESOLUTION 2006-120 EXHIBIT I E. Investment Policies 1. The City will make cash flow analysis of all funds on a regular basis. Disbursement, collection and deposit of all funds will be scheduled to ensure maximum cash availability. 2. when permitted by law, the City will pool cash from several differeont funds for investment purposes. 3. The City will invest at least 98% of its idle cash on a continuous basis. 4. The City will analyze market conditions and investment securities to determine what yield can be obtained, and attempt to secure the best possible return on all cash investments. 5. The City's accounting system will provide regular information concerning cash position and investment performance. 6. The City will maintain a formal written investment policy which will contain legal and administrative guidelines necessary to ensure that the City's available funds will be invested to the maximum extent possible, at the highest rates obtainable at the time of the investment, consistent with minimizing credit and market risk and which provides proper safeguards for the keeping of the City's investments. F. Accounting, Auditing and Financial Reporting Policies 1. The City will establish and maintain a high standard of accounting practices in conformance with generally accepted accounting principals. 2. The accounting system will maintain records on a basis consistent with accepted standards for local government accounting using GASB 34 as the basis of accounting for all governmental funds and an accrual basis of accounting for Enterprise and Internal Service Funds. Accounting polic;tes will reflect the principle of charging current taxpayers and/or users for the full cost of providing current services. 3. Regular monthly and annual financial reports will present a summary of financial activity by major types of funds as determined by the prior yea:r's Comprehensive Annual Financial Report. 4. where possible, the reporting system will provide monthly information on the total cost of specified services by type of expenditure and if necessary, by fund. 5. An independent public accounting firm will perform an annual audit and will publicly issue an opinion concerning the City's finances. RESOLUTION 2006 -120 EXHIBIT I G. Risk Management Policies 1. The City will maintain a Risk Management Program that will minimize the impact of legal liabilities, natural disasters or other emergencies through the following activities: a. Loss Prevention. Prevent negative occurrences. b. Loss Control. Reduce or mitigate expenses of a negative occurrence. C. Loss Financing. Provide a means to finance losses. d. Loss Information Management. Collect and analyze relevant: data to make prudent loss prevention, loss control and loss financing decisions. 2. , The City's Risk Management Program will: a. Analyze all the City's risks. b. Avoid risks whenever possible. C6 Reduce risks whenever possible. d. Transfer risks to other entities when possible. e. Of those risks that must be retained, it shall be the City's policy to fund risks which the City can afford and transfer all other risks to insurers. 3. The City will maintain an active Safety Committee comprised of City employees. 46 The City will periodically conduct educational safety and risk avoidance programs, through its Safety Committee and with the participation of its insurers, within its various departments. 5. The Safety Committee will report to the City Manager, at least annually, on the results and costs of the City's Risk Management Program for the preceding year. The City Manager shall report annually to the City Council. H. operating Budget Policies 1. In accordance with Chapter 7, Section 7.06 of the City Charter, the total sum appropriated in the General Fund annual budget shall be equal to the total estimated General Fund revenue and any allocated General Fund balance. 2. The City will pay for all current expenditures with current revenues. The City will avoid budgetary procedures that balance current expenditures at the expense of meeting future year's revenues, or roiling over short -term debt, or that rely on accumulated fund balances to meet current obligations. RESOLUTION 2006 -120 EXHIBIT I 3. The City will annually appropriate a contingency appropriation in the General Fund budget, not to exceed five percent of the total budget, to provide for unanticipated expenditure of a non - recurring nature. 4. The City Manager, when submitting the Proposed Budget to the City Council, shall submit a balanced General Fund budget in which appropriations shall not exceed the total of the estimated General Fund revenue and the any fund balance appropriated by the City Council. 5. Prior to adopting the General Fund Annual Budget, the City Council shall review the Reserve Policy. 6. In the event that there is a shortfall of revenues in a current year budget, the City Manager may recommend the use of a portion of the General Fund balance not to exceed the amount available after deducting amounts reserved for items not readily convertible to cash or reserved for working capital. 7. The budget will provide for adequate maintenance of the capital plant and equipment, and for their orderly replacement. S. The budget will provide for adequate funding of all retirement systems. 9. The City will maintain a budgetary control system to assist in adhering to the budget. 10. The City administration will prepare regular monthly reports comparing actual revenues and expenditures to the budgeted amount. 11. Each year the City will update expenditure projections for its Enterprise Funds for at least the ensuing five years. Projections will include estimated operating costs of future capital improvements included in. the Capital Budget. 12. The Operating Budget will describe the major goals to be achieved, and the services and programs to be delivered for the level of funding provided. 13. where possible, the City will integrate performance measurement and productivity indicators with the budget. 14. Enterprise funds shall be budgeted to have positive net income plus a sufficient margin to provide for replacement cost of property, plant, and equipment. RESOLUTION 2006 -120 EXHIBIT I I. Ethics Policy The City will maintain, and periodically review, a formal written ethics policy for all City employees and elected officials. J. Role of Auditors The P City's independent auditors shall be required, in the course of their audit, in the content of their Management Letter, to report any conditions that appear to be violations of our financial management policy. Reference: City Council Resolution Nos. 2004 -189; 99 -21; 98 -48; City Council Minutes 5122195; 618192; 2126190; 12/22/80 RESOLUTION 2006 -120 EXHIBIT I 2.22 Investment Policy 1. Scope investment policy applies to all of the investment activities of the City, except for This p y pp . the proceeds of refunding bond issues where the investment of such proceeds is specifically governed by the bond escrow agreement. 2. ob j ective A. Safety Safety of principal is the foremost objective of the investment program. Investments shall be in a manner that ensures the preservation of capital in the overall portfolio. 1. Credit Risk Credit risk is the risk of loss due to failure of the security issuer or backer. Credit risk may be mitigated by: a. Limitin g investments to the safest types of securities; and b. g Pre- ualif Y in the financial institution, broker /dealer, Pre-qualifying intermediaries, and advisors with which an entity will do business; and C. Diversifying the investment portfolio so that potential losses on individual securities will be minimized. 2. Interest Rate Risk Interest rate risk is the risk that the market value of securities in the portfolio will fall due to changes in general interest rate. Interest rate risk may be mitigated by: a. Structurin g the investment portfolio so that securities mature to meet cash requirements for ongoing operations, thereby avoiding the need to sell securities on the open market prior to maturity; and b. B Y g p investing operating funds primarily in shorter -term securities. B. Liquidity The investment portfolio shall remain sufficiently liquid to meet all operating Th p requirements that may be reasonably anticipated. This is accomplished by structurin g the portfolio so that securities mature concurrent with cash needs to meet anticipated demands. Furthermore, since all possible cash demands cannot RESOLUTION 2006 -120 EXHIBIT I be anticipated, the portfolio should contain a large component of securities with active secondary or resale markets. C. Yield The investment portfolio shall be designed with the objective of attaining a market rate of return throughout budgetary and economic cycles, taking into account the investment risk constraints and liquidity needs. Return on investment is of least importance compared to the safety and liquidity objectives described above. The core of investments is limited to relatively low risk securities in anticipation of earning a fair return relative to the risk being assumed. Securities shall be held to maturity with the following exceptions: I . Liquidity needs of the portfolio require that the security be sold. 2. A security of declining credit could be sold early to minimize loss of principal. D. Stable Earnings Since investment earnings are included in the budgeted revenues of the City, it is important that these earnings be stable and predictable through at least the next budget cycle. This emphasizes the need to purchase securities of various maturities so that at least half of the portfolio will remain for two or more years with known interest rates. 3. Standards of Care A. Prudence The standard of prudence to be used by investment officials shall be the prudent person standard described in Minnesota Statutes Chapter 11 8A. It will be applied in the context of managing the overall portfolio. Investment officials acting in accordance with this policy and exercising due diligence shall be relieved of personal responsibility for an individual security's credit risk or market price changes, provided deviations from expectations are reported in a timely fashion and the purchase and sale of securities are carried out in accordance with the terms of the policy. Investments shall be made with judgment and care, under circumstances then prevailing, which persons of prudence, discretion and intelligence exercise in the management of the City's affairs, not for speculation, but for investment, considering the probable safety of their capital as well as the probable income to be derived. B. Ethics and Conflicts of Interest RESOLUTION 2006 -120 EXHIBIT I Officials involved in the investment process shall refrain from personal business activity that could conflict with the proper execution and management of the investment program, or that could impair their ability to make impartial decisions. Officials shall disclose any material interests in financial institutions with which they conduct business. They shall further disclose any personal financial /investment positions that could be related to the performance of the investment portfolio. officials shall refrain from undertaking personal investment transactions with the same individual with whom business in conducted on behalf of the City. C. Relegation of Authority Authority to manage the investment program is derived from Minnesota State Statutes, Chapter 1 I 8 and Brooklyn Center City Charter Chapter 6, Section 6.04 and is granted to the City Manager, City Treasurer, and Assistant Finance Director. Responsibility for the operation of the investment program may be delegated by the City Manager to the City Treasurer, who shall carry out the program consistent with this policy. No person may engage in any investment transaction except as provided under the terms of this policy. The City Treasurer shall be responsible to the City Manager for all transactions undertaken and shall establish a system of controls to regulate the execution of all investment transactions. D. Training To ensure the competence of its investment officials, the City shall provide the opportunity for the officials to attend such investment training programs as are available and suitable. 4. Safekeeping and Custody A. Authorized Financial Dealers and Institutions A resolution shall be submitted to the City Council at least annually to designate depositories of City funds. This shall include institutions and dealers /brokers where accounts are maintained for banking services, purchase and sale of investment securities, and the custody of securities. The City Treasurer shall provide to each broker or institution a written statement of investment restrictions which shall include a provision that all future investments are to be made in accordance with Minnesota Statutes governing the investment of public funds, prior to completing an initial transaction, and annually thereafter. An annual review of the depositories shall be conducted by the City Treasurer. Requests for Proposals for banking services and custodian for investment securities shall be conducted on a periodic basis as defined in the Policy and Procedure on Requests for Proposals for Financial Professional Services. RESOLUTION 2006 -120 EXHIBIT I B. Internal Controls The Ci ty responsible Treasurer is for establishing and maintaining an internal: p control structure designed to ensure that the assets of the City are protected from loss, theft, or misuse. The internal control structure shall be designed to provide reasonable assurance that these objectives are met. The concept of reasonable assurance recognizes that the cost of a control should not exceed the benefits likely to be derived and the valuation of costs and benefits requires estimates and judgments by management. Internal controls shall include the following: 1. Control of Collusion. Collusion is a situation where two or more employees are working in conjunction to defraud their employer. 2. Custodial safekee_pin. Securities purchased from any bank or dealer shall be p laced with an independent third party for custodial safekeeping or held in an account with the Federal Reserve Bank of Minneapolis. 3. Avoidance of physical delivery securities.. Book entry securities are much easier to transfer and account for since actual delivery of a document never takes place. Delivered securities must be properly safeguarded against loss or destruction. The potential for fraud and loss increases with physical delivered securities. 4. Clear delegation of authority subordinate staff members., officials must. have a clear understanding of their authority and responsibilities to avoid' improper actions. Clear delegation of authority also preserves the internal control structure. 5. written confirmation of telephone transactions for investments and wire transfers. Due to the potential for errors and improprieties arising from telephone transactions, all transactions should be supported by written communications and approved by the appropriate official. written communications may be via fax on letterhead. Institutions and brokers/dealers shall be provided with a list of authorized signers. 6. Development of a wire transfer agreement with institutions and brokersldealers.. This agreement should outline the various controls, security provisions, and delineate responsibilities of each party making and receiving wire transfers. 7. Independent Audit. The City's independent auditors shall conduct a thorough review of the City's investment portfolio and transactions as part of their engagement. C. Delivery Verses Payment All trades where applicable will be executed by delivery verses payment (DVP). This ensures that securities are deposited in the eligible financial institution prior to the release of funds. Securities will be held by a third party custodian. RESOLUTION 2006-120 EXHIBIT I 5. Suitable and Authorized Investments A. Investment Types Consistent with Minnesota Statutes Chapter I IBA, the following investments will be permitted by this policy: 1. Securities that are the direct obligations or are guaranteed or insured issues of the United States, its agencies, its instrumentalities, or organizations created by an act of Congress; including governmental bills, notes, bonds, and other securities. 2. Commercial paper issued by U.S. corporations or their Canadian subsidiaries that is rated in the highest quality by at least two nationally recognized rating agencies and matures in 270 days or less. 3. Time deposits that are fully insured by the Federal Deposit Insurance Corporation or bankers acceptances of U.S. banks. 4. Repurchase agreements and reverse repurchase agreements may be entered into with financial institutions identified by Minnesota Statutes Chapter I IBA. 5. Securities lending agreements may be entered into with financial institutions identified by Minnesota Statutes Chapter 118A. 6. Minnesota joint powers investment trusts may be entered into with trusts identified by Minnesota Statutes Chapter 118A. 7. Money market mutual funds regulated by the Securities and Exchange Commission and whose portfolios consist only of short term securities permitted by Minnesota Statutes Chapter 118A. 8. Bonds of the City of Brooklyn Center issued in prior years, may be redeemed at current market price, which may include a premium, prior to maturity using surplus funds of the debt service fund set up for that issue. Such repurchased bonds shall be canceled and removed form the obligation of the fund. B. Securities Not Purchased Derivative securities, which obtain their value by the calculation of some portion of the value of another security, shall not be purchased. Mortgage backed securities, unless issued by a Federal Agency, shall not be purchased. Securities, which represent the principal or interest payments stripped off from an original issue security, shall not be purchased. RESOLUTION 2006 -120 EXHIBIT I C. Collateralization To the extent that deposits in bank accounts, certificates of deposit, andL repurchase agreements exceed the available federal deposit insurance, collateral' shall be furnished by the financial institution in accordance with Minnesota Statutes Chapter 118A. D. Maximum Maturities When purchasing investments, the Treasurer will attempt to match the maturity to future cash flow requirements. The City will not invest in securities maturing more than five years from the date of purchase. No more than ten percent of the City's portfolio at any time shall be invested in securities with maturities of more than three years. 6. Reporting A. The City Treasurer shall prepare a monthly investment report to the City Manager which shall include a succinct management summary; a list of significant transactions such as purchases, sales, and maturities of investments; a list of investments by type, a list of investments by maturity, a calculation of average yield on the portfolio, and a statement of interest earned. This report will be prepared in a manner which will allow the City Manager to ascertain whether investment activities during the month have conformed to the investment policy. B. A statement of the market value of the portfolio shall be issued at least annually. This will review the investment portfolio in terms of value and subsequent price volatility. Reference: City Council Resolution Nos. 97 -60; 90 -105 RESOLUTION 2006 -120 EXHIBIT I SCHEDULE FOR PROFESSIONAL SERVICES POLICIES 2.80 Policy and Procedure on Requests for Proposals for Financial Professional Services 1. Need for Policy The City needs a policy and procedure to provide for the orderly conduct of requesting proposals for professional services for handling financial affairs, to ensure that all services will be periodically reviewed, and that the proper balance will be maintained between cost and quality of services. 2. Policy A. All professional services agreements in the area of City finance will periodically be subject to a request for proposals (RFPs) process according to an established schedule. B. Service levels will be monitored by the City Council and Staff and if unsatisfactory service is received, that contract may be re- advertised prior to the year set in the schedule. C. Quality of service will be the primary factor in awarding a contract for professional service, but cost will also be a determinant. 3. Procedure A. A schedule shall be established for the conduct of RFPs. The schedule should be adhered to unless there is a performance problem or other justification for an earlier RFP. Going to the market too frequently with RFPs expends staff time, requires extensive orientation of new professionals, and discourages quality firms from submitting proposals at their most attractive price if they expect to have the contract for only a short time. B. Specifications tailored to the professional service to be advertised will be prepared by staff, reviewed by the Financial Commission, and approved by the City Council. C. A review committee made up of the City Manager and Finance Director shall review proposals for Banking Services, Insurance Agent, Risk Management Consultant, and Custodian for Investment Securities. Proposals for Auditor and Financial Advisor shall be initially screened by staff, and then reviewed by a committee of City Council Members and Financial Commission RESOLUTION 2006-120 EXHIBIT I Members appointed by the Mayor in consultation with the Chair of the Financial Co with the approval of the City Council, which committee shall also include the City Manager and Finance Director. D. The specifications will emphasize the abilities, qualifications, and experience of the applicant firms to provide high quality service to the City. Price will be considered after one or more applicants have been identified as providing the desired quality of service. When appropriate, ro riate, the specification shall require prices to be submitted in a separate, sealed envelope to be opened after applicants have been ranked according to quality. E. The City anager shall make a recommendation tot eh City tY Council of a provider to be appointed to a multi -year engagement. It shall be written in the engagement that the appointment may be terminated earlier. R eference: City Council Resolution Nos. 2000 -120; 99 -20; City Council Minutes 5125196 M ... iU ... Vq : , � y y �. .n ,. : :n X � i ..::.:.::.::::.: Q� ..: .::::::........... •: ; ;:::::::..... ............. .. .....: ...... ...... .....,.,:.'.' ;:- ::.::.:::::.: l - - - - - - - - .......Y. 1.... .......... .... .. ... + _M� N ... r 5 5. y � n ................. ?[ v + +• .. ... .... g ]i_ 4 / .., .... ..... ...... F, k. .....,.. ...: ............,.... ... .! •^ S.k � . , .......,., T , -. 1. ....... 9�c.. ....,.., .. --- ^..... r.. .........,. +. .... 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Investme ! ::.l. :... . , ices Agent M . or for Sere g Advisor , Ad 9 F k.: C ons u l ta nt Securities � ;� Con s <� d Sales B n ;... years years ea 5 years Y years - 5 years as Y - ye ars rs Y RF. 5 Y . L . ?F 2002 - 3 2QQ - 4 zo oz zoo ............... z 00 t F � F ........ ....... . ..... ...... ...... .... .k ;•:•,yam', ^? 7� e` R jY' +0.'• '- =; n: :':= - .:c_ ? v%4:�- % P ........... _ ........... .......... ..............::::::: . ...... . ... ... . R :�y: ,..: ...... . 4 ... ........... ............. ..... ............... C•: f RF RFP.. .... .. : -y .. RFP f ?. f _ �F- 55 •- x ................... L \. =- -- -- - ------ -- -------- 0 . . %[::i RF ,< 901 RF ..: -" - FP ...... ...:....... R r s.: ari:;:i %i:i= y:�"n�.:y: R F P RFP ] s :'•rrF \.._.: RF Fk R FP * Awarded to Deloite Touche who subsequently withdrew after the FY 2001 audit. Balance of engagement awarded to HLB Tautges Redpath for FY 2002 - FY 2005. RESOLUTION 2006 -120 EXHIBIT I RESOLUTION 2006-120 EXHIBIT I 2.81 Schedule for Requests for Proposals for Legal Services The City Council wants to ensure that legal services will be periodically reviewed and that the proper balance will be maintained between cost and quality of services. The City Council resolves that requests for proposals for civil and criminal services be solicited on an alternating four -year basis, and the schedule should be adhered to unless there is a performance problem or other justification for an earlier request for proposal. The schedule for soliciting requests for proposals for legal services is as follows: • Criminal Law Services every four years beginning 1997 • Civil Law Services every four years beginning 1999 Reference: City Council Resolution No. 97 -186