HomeMy WebLinkAbout20 - Fund Equity CITY OF BROOKLYN CENTER
SCHEDULE OF RESERVATIONS AND DESIGNATIONS OF FUND BALANCES
12/31/2007
Reserved Fund Balances
General
Reserved for prepaid items $ 700
TI F District No. 3
Reserved for statutory housing obligation 3
GO Improvement Bonds
Reserved for debt service 3
Infrastructure Construction
Reserved for committed contracts 334
Non Major Funds:
Special Revenue Funds
Reserved for prepaid items 19
Debt Service Funds
Reserved for debt service 3
Capital Project Funds
Reserved for advances to other funds 792
Reserved for committed contracts 183
Total Reserved Fund Balances $ 11 A%385
Designated Fund Balances
General
Designated for working capital purposes $ 7
TI F District No. 3
Designated for economic development 9
Non Major Funds
Special Revenue Funds
Designated for economic development 2
Capital Projects Funds
Designated for capital improvements 5
Total Designated Fund Balances $ 24,681,151
Undesignated Fund Balances
Infrastructure Construction (1
Non Major Funds
Police Drug Forfeiture (1
City Initiatives Grant 91
Total Undesignated Fund Balances $ (1,534,948)
Total Governmental Fund Fund Balances $ 34,435,588
I
City of Brooklyn Center
Tax Increment District # 3 - cumulative Sources /Uses of Funds
for Bond Fund Transfer (8 December 2007)
(revenues through 12/31/2007; expenses through 12108/2007 )_
.12/31/2006 2007 12/31/2007 Limits or
Actual. Activi Actual Requirements
TI F Received 19, 854, 708 1 21, 562,178 (A)
Interest Income 2 737 3
Sale of Assets 4 47,379 47,379
ERF Grant (57th & Logan) - 58 58
Debt Proceeds. 24 - 24
47, 030, 815 2 49,581,728 (B)
Project Based Expense:
Sunlite PAYG 486,506 -- 486 506
Acquisitions 252 999,498 - 999,498
Acquisitions 69th & BB 2 - 2
.:Demolitions 195 -48. - 195
Global 390,000 - 300,009
Brookdale Ford 7 7
Regal Storm Water = 1,137, 803 1,137, 803
Olive Garden /Cracker Barrel 2 1 949,842. 97 1 949 3
Days Inn 7; 996 4 4
Northbrook 5 232 5,441
12 5, 823 18, 536, 563
Increment Refund + Interest 422 422
Debt Service Payments 9 1 11,848,141
Out of District
Twin Lakes Note & I nt 1,105,111 -- 1,105,111 (C)
Administrative
Personal Services 190, 930 .37 228
Discounts 131,25.6 - 131
Contractual 1,1 141,773 1,276,423
1,456, 836 179,336 1 (D)
Subject to 25% Limitation 2,561947 179,336 2,741,283 (C) t(D) 8,385,112 25% of (F)
Housing - - - .3 15% of (A).
TOTAL 25, 639, 50'1 7 33, 540,448 (E)
Amount Spent 33 (F)
Amount Required for.Housing 3 234 327 15% of (A)
mounts Subject. to Commitments 36 (F) cash 10
Bond Proceeds 2
Amounts Available 12 (B) -(F) 12
TIF #3useoffundsDec20o7 bonds. As 316/2008
i
I
CITY OF BROOKLYN CENTER
SCHEDULE OF NET ASSETS
12/31/2007
Invested in capital assets:
MAJOR FUNDS:
Municipal Liquor $ 74
Golf Course 1,662, 722
Earle Brown Heritage Center 6
Water Utility 8
Sanitary Sewer Utility 9
Storm Drainage 14
Total MAJOR FUNDS 40,466,892
NONMAJOR FUNDS:
Central Garage Internal Service Fund 3,644,646
TOTAL INVESTED IN CAPITAL ASSETS, NET OF RELATED DEBT 44,111,538
Unrestricted:
MAJOR FUNDS:
Municipal Liquor $ 1
Golf Course (741,600)
Earle Brown Heritage Center 1
Water Utility 2
Sanitary Sewer Utility 3
Storm Drainage 1
9,787,403
NONMAJOR FUNDS:
Recycling and Refuse Enterprise Fund 54
Street Light Utility Enterprise Fund 179
Central Garage Internal Service Fund 4
EE Retirement Benefit (1
EE Comp Absences -
3,491,888
TOTAL UNRESTRICTED 13,279,291
BUSINESS -TYPE ACTIVITIES
Invested in Capital Assets, net 40,466,892
Unrestricted-
Major Funds 9
Non -Major Funds 234
Internal Balances:
Compensated Absences (132,868)
Central Garage 19
EE Retirement (63,461)
Total Unrestricted 9,845,252
CITY OF BROOKLYN CENTER
NET ASSETS ALLOCATION
12/31/2007
Governmental Business -Type Government -
Activities Activities Wide
Net Assets: 60,580,262 50,312,144 110,892,406
Invested in Capital Assets, net of debt:
Capital Assets, net of depreciation 38, 007, 002 40,466, 892 78,473, 894
Debt:
GO 3 3
GO Improvement Bonds 3 4
Discount/(Premium)
Deferred charges
Total debt 7 - 8
Invested in Capital Assets, net of related debt 30,780,590 40,466,892 70,318,894
Restricted:
For TI F:
Ending Fund Balance 13
Adjustments to arrive at net assets in fund:
Deferred revenue 9
Restricted for tax increment 13,075,918 - 13,075,918
For Debt Service:
Ending Fund Balance 6
Adjustments to arrive at net assets in fund:
Deferred revenue 2
Interest payable (461,686)
Restricted for Debt Service 8,662,597 - 8,662,597
Unrestricted Net Assets 8,061,157 9,845,252 18,834,997