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Home My WebLink About2010 Amended Budget 04 - Debt Service Funds City ®f Brooklyn Center 2010 Budget FUND: Debt Service Funds—30800 through 38000 DEPT/ACTIVITY/PROJECT: Debt Service— 47518 through 47615 PROFILE These Funds track the collection of revenues and processing of payments for bonds issued by the City for various purposes. The main sources of revenue for payment of bonds are: Assessments — Assessments make payments on Improvement Bonds. These bonds are issued to advance the costs of street and storm drainage improvements in the City's street reconstruction program. Many assessments are collected in advance of the time they are required for payment of the corresponding debt. These payments are held in the particular fund for that bond and collect interest income on the proceeds until they are needed. Property Tax Levy — Property taxes are collected for the payment of General Obligation Bonds. These bonds, which were used to construct the Police Station and improve the Fire Stations, are the responsibility of the general taxpayers of the City. The annual tax levied for these bonds is only enough to cover the cost of principal, interest and administrative service payments. Tax Increments— Tax Increments are collected in the TIF Funds. When funds are needed to make a debt payment a transfer is made from the TIF Fund to the Debt Service Fund for that bond. Payment is then made from the Debt Service Fund. Summary schedules of the principal, interest and expected administrative fee payments follow on the next page. 255 City of Brooklyn Center 2010 Debt Service Funds Debt Payment Revenues&Expenditures Assessment Property Tax Interest TOTAL Revenues Revenue Revenue Income BUDGET Improvement Bonds 1999 Street Improvement Bonds - 200 200 2000 Street Improvement Bonds 78,645 800 79,445 2001 Street Improvement Bonds 84,700 1,500 86,200 2003 Street Improvement Bonds 139,117 100 139,217 2004 Street Improvement Bonds 135,730 1,000 136,730 2006 Street Improvement Bonds 192,894 1,000 193,894 2008 Street Improvement Bonds 404,386 500 404,886 1,035,472 - 5,100 1,040,572 General Obligation Bonds Police&Fire Building Refunding Bonds - 715,183 1,000 716,183 Tax Increment Bonds G.O.Tax Increment Refunding Bonds 432,962 - 432,962 G.O.Tax Increment Bonds 1,400,319 1,400,319 G.O.Tax Increment Bonds 1,740,181 1,740,181 - 3,573,462 - 3,573,462 TOTAL DEBT SERVICE REVENUES 1,035,472 4,288,645 6,100 5,330,217 Principal Interest Agent Fees TOTAL Expenditures Payment Payments and Administration BUDGET Improvement Bonds 1999 Street Improvement Bonds 150,000 3,750 800 154,550 2000 Street Improvement Bonds 65,000 4,794 1,500 71,294 2001 Street Improvement Bonds 65,000 8,385 2,000 75,385 2003 Street Improvement Bonds 115,000 14,489 1,500 130,989 2004 Street Improvement Bonds 100,000 17,925 1,500 119,425 2006 Street Improvement Bonds 150,000 35,620 1,500 187,120 2008 Street Improvement Bonds 275,000 84,089 1,500 360,589 920,000 169,052 10,300 1,099,352 General Obligation Bonds Police&Fire Building Refunding Bonds 640,000 75,153 1,500 716,653 Tax Increment Bonds G.O.Tax Increment Refunding Bonds 405,000 26,462 1,500 432,962 G.O.Tax Increment Bonds 715,000 683,819 1,500 1,400,319 G.O.Tax Increment Bonds 1,665,000 73,681 1,500 1,740,181 2,785,000 783,962 4,500 3,573,462 TOTAL DEBT SERVICE EXPENDITURES 4,345,000 1,028,167 16,300 5,389,467 NET TOTAL DEBT SERVICE BUDGET (59,250) 256 City ®f Brooklyn Center 2010 Budget FUND: 1999A G.O. Improvement Bonds—30800 DEPT/ACTIVITY/PROJECT: Debt Service— 47518 PROFILE Provides for revenues from special assessments against benefited property owners for public improvements as part of the neighborhood street projects program. Expenditures from this fund are for principal and interest on the bonds and agent fees for bond servicing. This debt is fully retired on February 1, 2010. REVENUES Special Assessments $-0- Interest Allocation $200.00 EXPENDITURES Principal $150,000.00 Interest $3,750.00 Agent Fees: $800.00 257 CITY OF BROOKLYN CENTER Budget Report 2007 2008 2009 12/31/2009 2010 2010 Actual Actual Final YTD Recommended Approved Object Code/Description Amount Amount Budget Actual Budget Budget 30800 GO IMPROVEMENT BONDS-1999A 47518 1999A-GO IMPROVEMENT BONDS 4000 REVENUES AND EXPENSES 4001 REVENUES 4050 TAXES 4100 AD VALOREM TAXES 4120 DELINQUENTAD VALOREM TAXES 241- 4100 AD VALOREM TAXES 241- 4050 TAXES 241- 4599 MISCELLANEOUS REVENUE 4600 MISCELLANEOUS REVENUE 4601 SPECIAL ASSESSMENTS 128,291- 117,381- 168,293- 108,257- 4603 INTEREST EARNINGS 10,225- 4,092- 3,200- 3,986- 200- 200- 4605 UNREALIZED INVESTMENT GAIN/LOS 190- 379- 4607 SPEC ASSESS INTEREST 23- 4600 MISCELLANEOUS REVENUE 138,707- 121,875- 171,493- 112,243- 200- 200- 4599 MISCELLANEOUS REVENUE 138,707- 121,875- 171,493- 112,243- 200- 200- 4900 OTHER FINANCING SOURCES 4915.7 TRANSFERS IN FROM DEBT SERV FD 437,247- 4900 OTHER FINANCING SOURCES 437,247- 4001 REVENUES 138,707- 121,875- 171,493- 549,731- 200- 200- 6001 EXPENDITURES/EXPENSES 6600 DEBT SERVICE 6601 BOND PRINCIPAL 155,000 155,000 155,000 155,000 150,000 150,000 6611 BOND INTEREST 26,216 18,815 11,298 11,298 3,750 3,750 6621 PAYING AGENT/OTHER FEES 1,035 1,133 2,000 1,002 800 800 6600 DEBT SERVICE 182,251 174,948 168,298 167,299 154,550 154,550 6001 EXPENDITURES/EXPENSES 182,251 174,948 168,298 167,299 154,550 154,550 4000 REVENUES AND EXPENSES 43,544 53,073 3,195- 382,432- 154,350 154,350 47518 1999A-GO IMPROVEMENT BONDS 43,544 53,073 3,195- 382,432- 154,350 154,350 30800 GO IMPROVEMENT BONDS-1999A 43,544 53,073 3,195- 382,432- 154,350 154,350 258 City ®f Brooklyn Center 2010 Budget FUND: 2000A G.O. Improvement Bonds—30900 DEPT/ACTIVITY/PROJECT: Debt Service— 47519 PROFILE Provides for revenues special assessments against benefited property owners for public improvements as part of the neighborhood street projects program. Expenditures from this fund are for principal and interest on the bonds and agent fees for bond servicing, continued financial reporting and arbitrage calculations. This debt will be fully retired on February 1, 2011. REVENUES Special Assessments $78,645.00 Interest Allocation $800.00 EXPENDITURES Principal $65,000.00 Interest $4,794.00 Agent Fees: $1,500.00 259 CITY OF BROOKLYN CENTER Budget Report 2007 2008 2009 12/31/2009 2010 2010 Actual Actual Final YTD Recommended Approved Object Code/Description Amount Amount Budget Actual Budget Budget 30900 GO IMPROVEMENT BONDS-2000A 47519 2000A-GO IMPROVEMENT BONDS 4000 REVENUES AND EXPENSES 4001 REVENUES 4050 TAXES 4100 AD VALOREM TAXES 4599 MISCELLANEOUS REVENUE 4600 MISCELLANEOUS REVENUE 4601 SPECIAL ASSESSMENTS 48,602- 45,608- 83,790- 39,114- 78,645- 78,645- 4602 SPECIAL ASSESS-PENALTIES&INT 12,000- 4603 INTEREST EARNINGS 21,732- 10,585- 3,331- 800- 800- 4605 UNREALIZED INVESTMENT GAIN/LOS 315- 720- 4600 MISCELLANEOUS REVENUE 70,649- 56,914- 95,790- 42,445- 79,445- 79,445- 4599 MISCELLANEOUS REVENUE 70,649- 56,914- 95,790- 42,445- 79,445- 79,445- 4900 OTHER FINANCING SOURCES 4001 REVENUES 70,649- 56,914- 95,790- 42,445- 79,445- 79,445- 6001 EXPENDITURES/EXPENSES 6600 DEBT SERVICE 6601 BOND PRINCIPAL 75,000 70,000 70,000 70,000 65,000 65,000 6611 BOND INTEREST 14,729 11,340 8,032 8,033 4,794 4,794 6621 PAYING AGENT/OTHER FEES 1,002 1,103 1,500 978 1,500 1,500 6600 DEBT SERVICE 90,730 82,443 79,532 79,010 71,294 71,294 6001 EXPENDITURES/EXPENSES 90,730 82,443 79,532 79,010 71,294 71,294 4000 REVENUES AND EXPENSES 20,082 25,530 16,258- 36,565 8,151- 8,151- 47519 2000A-GO IMPROVEMENT BONDS 20,082 25,530 16,258- 36,565 8,151- 8,151- 30900 GO IMPROVEMENT BONDS-2000A 20,082 25,530 16,258- 36,565 8,151- 8,151- 260 City ®f Brooklyn Center 2010 Budget FUND: 2001A G.O. Improvement Bonds—31000 DEPT/ACTIVITY/PROJECT: Debt Service— 47520 PROFILE Provides for revenues special assessments against benefited property owners for public improvements as part of the neighborhood street projects program. Expenditures from this fund are for principal and interest on the bonds and agent fees for bond servicing, continued financial reporting and arbitrage calculations. This debt will be fully retired on February 1, 2012. REVENUES Special Assessments $84,700.00 Interest Allocation $1,500.00 EXPENDITURES Principal $65,000.00 Interest $8,385.00 Agent Fees: $2,000.00 261 CITY OF BROOKLYN CENTER Budget Report 2007 2008 2009 12/31/2009 2010 2010 Actual Actual Final YTD Recommended Approved Object Code/Description Amount Amount Budget Actual Budget Budget 31000 GO IMPROVEMENT BONDS-2001A 47520 2001A-GO IMPROVEMENT BONDS 4000 REVENUES AND EXPENSES 4001 REVENUES 4050 TAXES 4100 AD VALOREM TAXES 4599 MISCELLANEOUS REVENUE 4600 MISCELLANEOUS REVENUE 4601 SPECIAL ASSESSMENTS 53,107- 41,487- 89,600- 40,126- 84,700- 84,700- 4603 INTEREST EARNINGS 14,720- 6,842- 8,000- 2,021- 1,500- 1,500- 4605 UNREALIZED INVESTMENT GAIN/LOS 219- 477- 4600 MISCELLANEOUS REVENUE 68,046- 48,806- 97,600- 42,147- 86,200- 86,200- 4599 MISCELLANEOUS REVENUE 68,046- 48,806- 97,600- 42,147- 86,200- 86,200- 4900 OTHER FINANCING SOURCES 4001 REVENUES 68,046- 48,806- 97,600- 42,147- 86,200- 86,200- 6001 EXPENDITURES/EXPENSES 6600 DEBT SERVICE 6601 BOND PRINCIPAL 75,000 70,000 70,000 70,000 65,000 65,000 6611 BOND INTEREST 15,410 12,620 9,820 9,820 8,385 8,385 6621 PAYING AGENT/OTHER FEES 2,215 1,010 2,500 885 2,000 2,000 6600 DEBT SERVICE 92,625 83,630 82,320 80,705 75,385 75,385 6001 EXPENDITURES/EXPENSES 92,625 83,630 82,320 80,705 75,385 75,385 4000 REVENUES AND EXPENSES 24,578 34,824 15,280- 38,558 10,815- 10,815- 47520 2001A-GO IMPROVEMENT BONDS 24,578 34,824 15,280- 38,558 10,815- 10,815- 31000 GO IMPROVEMENT BONDS-2001A 24,578 34,824 15,280- 38,558 10,815- 10,815- 262 City ®f Brooklyn Center 2010 Budget FUND: 2003A G.O. Improvement Bonds—31100 DEPT/ACTIVITY/PROJECT: Debt Service— 47521 PROFILE Provides for revenues from special assessments against benefited property owners for public improvements as part of the neighborhood street projects program. Expenditures from this fund are for principal and interest on the bonds and agent fees for bond servicing. This debt will be fully retired on February 1, 2013. REVENUES Special Assessments $139,117.00 Interest Allocation $100.00 EXPENDITURES Principal $115,000.00 Interest $14,489.00 Agent Fees: $1,500.00 263 CITY OF BROOKLYN CENTER Budget Report 2007 2008 2009 12/31/2009 2010 2010 Actual Actual Final YTD Recommended Approved Object Code/Description Amount Amount Budget Actual Budget Budget 31100 GO IMPROVEMENT BONDS-2003A 47521 2003A-GO IMPROVEMENT BONDS 4000 REVENUES AND EXPENSES 4001 REVENUES 4050 TAXES 4100 AD VALOREM TAXES 4599 MISCELLANEOUS REVENUE 4600 MISCELLANEOUS REVENUE 4601 SPECIAL ASSESSMENTS 126,856- 112,475- 146,684- 107,975- 139,117- 139,117- 4602 SPECIAL ASSESS-PENALTIES&INT 7,000- 4603 INTEREST EARNINGS 9,315- 4,298- 1,241- 100- 100- 4605 UNREALIZED INVESTMENT GAIN/LOS 175- 382- 4606 OTHER REVENUE 0- 0- 4600 MISCELLANEOUS REVENUE 136,346- 117,155- 153,684- 109,216- 139,217- 139,217- 4599 MISCELLANEOUS REVENUE 136,346- 117,155- 153,684- 109,216- 139,217- 139,217- 4900 OTHER FINANCING SOURCES 4001 REVENUES 136,346- 117,155- 153,684- 109,216- 139,217- 139,217- 6001 EXPENDITURES/EXPENSES 6600 DEBT SERVICE 6601 BOND PRINCIPAL 125,000 120,000 120,000 120,000 115,000 115,000 6611 BOND INTEREST 25,509 22,083 18,393 18,393 14,489 14,489 6621 PAYING AGENT/OTHER FEES 1,234 1,319 1,500 1,170 1,500 1,500 6600 DEBT SERVICE 151,743 143,402 139,893 139,562 130,989 130,989 6001 EXPENDITURES/EXPENSES 151,743 143,402 139,893 139,562 130,989 130,989 4000 REVENUES AND EXPENSES 15,397 26,247 13,791- 30,346 8,228- 8,228- 47521 2003A-GO IMPROVEMENT BONDS 15,397 26,247 13,791- 30,346 8,228- 8,228- 31100 GO IMPROVEMENT BONDS-2003A 15,397 26,247 13,791- 30,346 8,228- 8,228- 264 City ®f Brooklyn Center 2010 Budget FUND: 2004C G.O. Improvement Bonds—31200 DEPT/ACTIVITY/PROJECT: Debt Service— 47522 PROFILE Provides for revenues from special assessments against benefited property owners for public improvements as part of the neighborhood street projects program. Expenditures from this fund are for principal and interest on the bonds and agent fees for bond servicing. This debt will be fully retired on February 1, 2015. REVENUES Special Assessments $135,730.00 Interest Allocation $1,000.00 EXPENDITURES Principal $100,000.00 Interest $17,925.00 Agent Fees: $1,500.00 265 CITY OF BROOKLYN CENTER Budget Report 2007 2008 2009 12/31/2009 2010 2010 Actual Actual Final YTD Recommended Approved Object Code/Description Amount Amount Budget Actual Budget Budget 31200 GO IMPROVEMENT BONDS-2004C 47522 2004C-GO IMPROVEMENT BONDS 4000 REVENUES AND EXPENSES 4001 REVENUES 4050 TAXES 4599 MISCELLANEOUS REVENUE 4600 MISCELLANEOUS REVENUE 4601 SPECIAL ASSESSMENTS 120,084- 99,467- 142,077- 80,680- 135,730- 135,730- 4603 INTEREST EARNINGS 16,211- 7,927- 6,000- 2,438- 1,000- 1,000- 4605 UNREALIZED INVESTMENT GAIN/LOS 261- 596- 4600 MISCELLANEOUS REVENUE 136,556- 107,990- 148,077- 83,118- 136,730- 136,730- 4599 MISCELLANEOUS REVENUE 136,556- 107,990- 148,077- 83,118- 136,730- 136,730- 4900 OTHER FINANCING SOURCES 4001 REVENUES 136,556- 107,990- 148,077- 83,118- 136,730- 136,730- 6001 EXPENDITURES/EXPENSES 6600 DEBT SERVICE 6601 BOND PRINCIPAL 110,000 105,000 105,000 105,000 100,000 100,000 6611 BOND INTEREST 26,283 23,651 20,869 20,869 17,925 17,925 6621 PAYING AGENT/OTHER FEES 1,113 1,193 1,600 1,047 1,500 1,500 6600 DEBT SERVICE 137,395 129,845 127,469 126,916 119,425 119,425 6001 EXPENDITURES/EXPENSES 137,395 129,845 127,469 126,916 119,425 119,425 4000 REVENUES AND EXPENSES 839 21,854 20,608- 43,798 17,305- 17,305- 47522 2004C-GO IMPROVEMENT BONDS 839 21,854 20,608- 43,798 17,305- 17,305- 31200 GO IMPROVEMENT BONDS-2004C 839 21,854 20,608- 43,798 17,305- 17,305- 266 City ®f Brooklyn Center 2010 Budget FUND: 2004A G.O. Bldg Bonds Refunding—31300 DEPT/ACTIVITY/PROJECT: Debt Service— 47523 PROFILE Provides for revenues from taxes for payment of refinanced bonds used to construct voter-approved facilities. These facilities included a new police facility, a new fire station, and renovation of an existing fire station. Expenditures from this fund are for principal and interest on the bonds and agent fees for bond servicing. This debt was issued in 2004 to refinance the original issue at a lower interest rate. Funds escrowed in that transaction have been applied to principal and interest payments on the original debt. This debt will be fully retired on February 1, 2013. REVENUES Tax Levy $715,183.00 Interest Revenue $1,000.00 EXPENDITURES Principal $640,000.00 Interest $75,153.00 Agent Fees: $1,500.00 267 CITY OF BROOKLYN CENTER Budget Report 2007 2008 2009 12/31/2009 2010 2010 Actual Actual Final YTD Recommended Approved Object Code/Description Amount Amount Budget Actual Budget Budget 31300 GO BLDG BONDS REFINANCE-2004A 47523 2004A-GO BLDG BONDS REFUNDING 4000 REVENUES AND EXPENSES 4001 REVENUES 4050 TAXES 4100 AD VALOREM TAXES 4101 CURRENT AD VALOREM TAXES 729,386- 708,680- 681,224- 715,183- 715,183- 4120 DELINQUENTAD VALOREM TAXES 12,078- 18,803- 17,583- 4100 AD VALOREM TAXES 741,464- 727,482- 698,807- 715,183- 715,183- 4050 TAXES 741,464- 727,482- 698,807- 715,183- 715,183- 4599 MISCELLANEOUS REVENUE 4600 MISCELLANEOUS REVENUE 4601 SPECIAL ASSESSMENTS 703,903- 4603 INTEREST EARNINGS 31,689- 16,944- 5,000- 5,948- 1,000- 1,000- 4605 UNREALIZED INVESTMENT GAIN/LOS 727- 1,805- 4600 MISCELLANEOUS REVENUE 32,416- 18,749- 708,903- 5,948- 1,000- 1,000- 4599 MISCELLANEOUS REVENUE 32,416- 18,749- 708,903- 5,948- 1,000- 1,000- 4900 OTHER FINANCING SOURCES 4001 REVENUES 773,880- 746,231- 708,903- 704,756- 716,183- 716,183- 6001 EXPENDITURES/EXPENSES 6600 DEBT SERVICE 6601 BOND PRINCIPAL 590,000 600,000 610,000 610,000 640,000 640,000 6611 BOND INTEREST 124,690 110,553 93,903 93,903 75,153 75,153 6621 PAYING AGENT/OTHER FEES 633 751 1,500 631 1,500 1,500 6600 DEBT SERVICE 715,323 711,303 705,403 704,534 716,653 716,653 6001 EXPENDITURES/EXPENSES 715,323 711,303 705,403 704,534 716,653 716,653 4000 REVENUES AND EXPENSES 58,557- 34,928- 3,500- 222- 470 470 47523 2004A-GO BLDG BONDS REFUNDING 58,557- 34,928- 3,500- 222- 470 470 31300 GO BLDG BONDS REFINANCE-2004A 58,557- 34,928- 3,500- 222- 470 470 268 City ®f Brooklyn Center 2010 Budget FUND: 2006A G.O. Improvements Bonds—31400 DEPT/ACTIVITY/PROJECT: Debt Service— 47524 PROFILE Provides for revenues from special assessments against benefited property owners for public improvements as part of the neighborhood street projects program. Expenditures from this fund are for principal and interest on the bonds and agent fees for bond servicing. This debt will be fully retired on February 1, 2017. REVENUES Special Assessments $192,894.00 Interest Allocation $1,000.00 EXPENDITURES Principal $150,000.00 Interest $35,620.00 Agent Fees: $1,500.00 269 CITY OF BROOKLYN CENTER Budget Report 2007 2008 2009 12/31/2009 2010 2010 Actual Actual Final YTD Recommended Approved Object Code/Description Amount Amount Budget Actual Budget Budget 31400 GO IMPROVEMENT BONDS-2006A 47524 2006A-GO IMPROVEMENT BONDS 4000 REVENUES AND EXPENSES 4001 REVENUES 4050 TAXES 4100 AD VALOREM TAXES 4599 MISCELLANEOUS REVENUE 4600 MISCELLANEOUS REVENUE 4601 SPECIAL ASSESSMENTS 278,709- 221,776- 200,706- 200,829- 192,894- 192,894- 4603 INTEREST EARNINGS 15,996- 6,650- 3,000- 2,551- 1,000- 1,000- 4605 UNREALIZED INVESTMENT GAIN/LOS 311- 627- 4606 OTHER REVENUE 0- 4600 MISCELLANEOUS REVENUE 295,016- 229,053- 203,706- 203,380- 193,894- 193,894- 4599 MISCELLANEOUS REVENUE 295,016- 229,053- 203,706- 203,380- 193,894- 193,894- 4900 OTHER FINANCING SOURCES 4001 REVENUES 295,016- 229,053- 203,706- 203,380- 193,894- 193,894- 6001 EXPENDITURES/EXPENSES 6600 DEBT SERVICE 6601 BOND PRINCIPAL 260,000 150,000 150,000 150,000 150,000 6611 BOND INTEREST 33,170 48,223 40,945 40,945 35,620 35,620 6621 PAYING AGENT/OTHER FEES 1,460 1,403 3,000 1,246 1,500 1,500 6600 DEBT SERVICE 34,630 309,626 193,945 192,191 187,120 187,120 6001 EXPENDITURES/EXPENSES 34,630 309,626 193,945 192,191 187,120 187,120 4000 REVENUES AND EXPENSES 260,386- 80,572 9,761- 11,189- 6,774- 6,774- 47524 2006A-GO IMPROVEMENT BONDS 260,386- 80,572 9,761- 11,189- 6,774- 6,774- 31400 GO IMPROVEMENT BONDS-2006A 260,386- 80,572 9,761- 11,189- 6,774- 6,774- 270 City ®f Brooklyn Center 2010 Budget FUND: 2008B G.O. Improvements Bonds—31500 DEPT/ACTIVITY/PROJECT: Debt Service— 47525 PROFILE Provides for revenues from special assessments against benefited property owners for public improvements as part of the neighborhood street projects program. Expenditures from this fund are for principal and interest on the bonds and agent fees for bond servicing. This debt will be fully retired on February 1, 2019. REVENUES Special Assessments $404,386.00 Interest Allocation $500.00 EXPENDITURES Principal $275,000.00 Interest $84,089.00 Agent Fees: $1,500.00 271 CITY OF BROOKLYN CENTER Budget Report 2007 2008 2009 12/31/2009 2010 2010 Actual Actual Final YTD Recommended Approved Object Code/Description Amount Amount Budget Actual Budget Budget 31500 GO IMPROVEMENT BONDS-2008B 47525 20088-GO IMPROVEMENT BONDS 4000 REVENUES AND EXPENSES 4001 REVENUES 4050 TAXES 4100 AD VALOREM TAXES 4599 MISCELLANEOUS REVENUE 4600 MISCELLANEOUS REVENUE 4601 SPECIAL ASSESSMENTS 122,689- 585,043- 404,386- 404,386- 4603 INTEREST EARNINGS 4,661- 2,532- 500- 500- 4605 UNREALIZED INVESTMENT GAIN/LOS 266- 4606 OTHER REVENUE 0- 4607 SPEC ASSESS INTEREST 126- 4600 MISCELLANEOUS REVENUE 127,742- 587,575- 404,886- 404,886- 4599 MISCELLANEOUS REVENUE 127,742- 587,575- 404,886- 404,886- 4900 OTHER FINANCING SOURCES 4915 TRANSFERS IN 6,349- 4931 BOND SALES 50,068- 4932 PREMIUM ON BOND SALES 1,384- 4900 OTHER FINANCING SOURCES 51,451- 6,349- 4001 REVENUES 179,193- 593,924- 404,886- 404,886- 6001 EXPENDITURES/EXPENSES 6600 DEBT SERVICE 6601 BOND PRINCIPAL 275,000 275,000 6611 BOND INTEREST 55,594 84,089 84,089 6621 PAYING AGENT/OTHER FEES 29,324 876 1,500 1,500 6600 DEBT SERVICE 29,324 56,470 360,589 360,589 6001 EXPENDITURES/EXPENSES 29,324 56,470 360,589 360,589 4000 REVENUES AND EXPENSES 149,869- 537,454- 44,297- 44,297- 47525 20088-GO IMPROVEMENT BONDS 149,869- 537,454- 44,297- 44,297- 31500 GO IMPROVEMENT BONDS-2008B 149,869- 537,454- 44,297- 44,297- 272 City ®f Brooklyn Center 2010 Budget FUND: 2008A G.O. Tax Increment Bonds—37600 DEPT/ACTIVITY/PROJECT: Debt Service— 47611 PROFILE Proceeds from this bond issue are being used to make qualified improvements in the Tax Increment Financing District # 3. These include acquisition and demolition of existing buildings and installation of new infrastructure. Revenues for payment of this bond issue come from tax increments generated by TIF District#3. Expenditures from this fund are for principal and interest on the bonds and agent fees for bond servicing. This debt will be fully retired on February 1, 2018. REVENUES Transfer for Tax Increment $1,740,181.00 EXPENDITURES Principal $1,665,000.00 Interest $73,681.00 Agent Fees: $1,500.00 273 CITY OF BROOKLYN CENTER Budget Report 2007 2008 2009 12/31/2009 2010 2010 Actual Actual Final YTD Recommended Approved Object Code/Description Amount Amount Budget Actual Budget Budget 37600 TAX INCREMENT BONDS-2008A 47611 2008A-GO TIF BONDS 4000 REVENUES AND EXPENSES 4001 REVENUES 4050 TAXES 4100 AD VALOREM TAXES 4599 MISCELLANEOUS REVENUE 4600 MISCELLANEOUS REVENUE 4900 OTHER FINANCING SOURCES 4915.4 TRANSFERS IN FROM TIF#2 FUND 1,834,997- 4915.5 TRANSFERS IN FROM TIF#3 FUND 1,833,922- 1,740,181- 1,740,181- 4900 OTHER FINANCING SOURCES 1,834,997- 1,833,922- 1,740,181- 1,740,181- 4001 REVENUES 1,834,997- 1,833,922- 1,740,181- 1,740,181- 6001 EXPENDITURES/EXPENSES 6600 DEBT SERVICE 6601 BOND PRINCIPAL 1,670,000 1,670,000 1,665,000 1,665,000 6611 BOND INTEREST 163,497 163,497 73,681 73,681 6621 PAYING AGENT/OTHER FEES 1,500 425 1,500 1,500 6600 DEBT SERVICE 1,834,997 1,833,922 1,740,181 1,740,181 6001 EXPENDITURES/EXPENSES 1,834,997 1,833,922 1,740,181 1,740,181 274 City ®f Brooklyn Center 2010 Budget FUND: 2004B G.O. TIF Refinancing Bonds—37900 DEPT/ACTIVITY/PROJECT: Debt Service— 47614 PROFILE Proceeds from this bond issue refinanced the 1995A G.O. TIF Revenue Bonds at a lower rate of interest. Revenues for payment of this bond come from tax increments generated by TIF District #3. Expenditures from this fund are for principal and interest on the bonds and agent fees for bond servicing. This debt will be fully retired on February 1, 2011. REVENUES Tax Increment Collections Transfer $432,962.00 from TIF District#3 EXPENDITURES Principal $405,000.00 Interest $26,462.00 Agent Fees $1,500.00 275 CITY OF BROOKLYN CENTER Budget Report 2007 2008 2009 12/31/2009 2010 2010 Actual Actual Final YTD Recommended Approved Object Code/Description Amount Amount Budget Actual Budget Budget 37900 GO TAX INCREMENT REFI-2004B 47614 20048-GO TAX INCREMENT REFI 4000 REVENUES AND EXPENSES 4001 REVENUES 4050 TAXES 4100 AD VALOREM TAXES 4599 MISCELLANEOUS REVENUE 4600 MISCELLANEOUS REVENUE 4900 OTHER FINANCING SOURCES 4915.5 TRANSFERS IN FROM TIF#3 FUND 495,000- 462,061- 467,254- 452,776- 432,962- 432,962- 4900 OTHER FINANCING SOURCES 495,000- 462,061- 467,254- 452,776- 432,962- 432,962- 4001 REVENUES 495,000- 462,061- 467,254- 452,776- 432,962- 432,962- 6001 EXPENDITURES/EXPENSES 6470 TRANSFERS AND OTHER USES 6600 DEBT SERVICE 6601 BOND PRINCIPAL 425,000 405,000 410,000 410,000 405,000 405,000 6611 BOND INTEREST 69,368 56,310 42,145 42,145 26,462 26,462 6621 PAYING AGENT/OTHER FEES 633 751 1,500 631 1,500 1,500 6600 DEBT SERVICE 495,000 462,061 453,645 452,776 432,962 432,962 6001 EXPENDITURES/EXPENSES 495,000 462,061 453,645 452,776 432,962 432,962 4000 REVENUES AND EXPENSES 13,609- 47614 20048-GO TAX INCREMENT REFI 13,609- 37900 GO TAX INCREMENT REFI-2004B 13,609- 276 City ®f Brooklyn Center 2010 Budget FUND: 2004D G.O. Tax Increment Bonds—38000 DEPT/ACTIVITY/PROJECT: Debt Service— 47615 PROFILE Proceeds from this bond issue are being used to make qualified improvements in the Tax Increment Financing District # 3. These include acquisition and demolition of existing buildings and installation of new infrastructure. Revenues for payment of this bond issue come from tax increments generated by TIF District#3. Expenditures from this fund are for principal and interest on the bonds and agent fees for bond servicing. This debt will be fully retired on February 1, 2020. REVENUES Tax Increment Collections Transfer $1,400,319.00 EXPENDITURES Principal $715,000.00 Interest $683,819.00 Agent Fees $1,500.00 277 CITY OF BROOKLYN CENTER Budget Report 2007 2008 2009 12/31/2009 2010 2010 Actual Actual Final YTD Recommended Approved Object Code/Description Amount Amount Budget Actual Budget Budget 38000 GO TAX INCREMENT BONDS-2004D 47615 2004D-GO TAX INCREMENT BONDS 4000 REVENUES AND EXPENSES 4001 REVENUES 4050 TAXES 4100 AD VALOREM TAXES 4599 MISCELLANEOUS REVENUE 4600 MISCELLANEOUS REVENUE 4603 INTEREST EARNINGS 33,252- 24,924- 401- 4605 UNREALIZED INVESTMENT GAIN/LOS 1,815- 4600 MISCELLANEOUS REVENUE 35,066- 24,924- 401- 4599 MISCELLANEOUS REVENUE 35,066- 24,924- 401- 4900 OTHER FINANCING SOURCES 4915.5 TRANSFERS IN FROM TIF#3 FUND 3,938,310- 1,497,471- 206,356- 1,400,319- 1,400,319- 4900 OTHER FINANCING SOURCES 3,938,310- 1,497,471- 206,356- 1,400,319- 1,400,319- 4001 REVENUES 3,938,310- 35,066- 1,522,395- 206,757- 1,400,319- 1,400,319- 6001 EXPENDITURES/EXPENSES 6600 DEBT SERVICE 6601 BOND PRINCIPAL 625,000 625,000 685,000 685,000 715,000 715,000 6611 BOND INTEREST 777,869 748,181 810,971 717,069 683,819 683,819 6621 PAYING AGENT/OTHER FEES 633 751 1,500 631 1,500 1,500 6600 DEBT SERVICE 1,403,501 1,373,932 1,497,471 1,402,700 1,400,319 1,400,319 6001 EXPENDITURES/EXPENSES 1,403,501 1,373,932 1,497,471 1,402,700 1,400,319 1,400,319 4000 REVENUES AND EXPENSES 2,534,809- 1,338,866 24,924- 1,195,943 47615 2004D-GO TAX INCREMENT BONDS 2,534,809- 1,338,866 24,924- 1,195,943 38000 GO TAX INCREMENT BONDS-2004D 2,534,809- 1,338,866 24,924- 1,195,943 278