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HomeMy WebLinkAbout2013 Budget 04 - Debt Service Funds City of Brooklyn Center 2013 Budget Debt Service Funds Debt Service Funds track the monies collected and paid for the retirement of bond debt obligations of the City. Funds are collected in various ways. Some dollars are collected through tax levies established solely for payment of these obligations. Some dollars are collected through special assessments against specific properties in the City which receive the benefits of debt projects. Some funds are transferred for the payment of bonds from Utility Funds when utility projects are financed through the debt process. Tax increments are also dedicated to payment of debt obligations in some cases. If a general pledge of the tax base of the City is made against a bond obligation it is accounted for in the Debt Service Funds. For 2013 those funds are: • 2003A GO Improvement Bonds • 2004C GO Improvement Bonds • 2004A GO Building Refunding Bonds • 2006A GO Improvement Bonds • 2008B GO Improvement Bonds • 2004D GO Tax Increment Bonds • 2008A GO Tax Increment Bonds 217 This page has been left blank intentionally. 218 City of Brooklyn Center 2013 Debt Service Funds Debt Payment Revenues&Expenditures Assessment Property Tax Interest TOTAL Revenues Revenue Revenue Income BUDGET Improvement Bonds 2003 Street Improvement Bonds 123,983 - 340 124,323 2004 Street Improvement Bonds 116,689 - 70 116,759 2006 Street Improvement Bonds 177,271 - 95 177,366 2008 Street Improvement Bonds 337,681 - 190 337,8.71 755,624 - 695 756,319 General Obllgation Bonds Police&Fire Building Refunding Bonds - 711,725 200 711,925 Tax Increment Bonds G.O.Tax Increment Bonds - 1,805,263 - 1,805,263 G.O.Tax Increment Bonds - 160,844 - 160,844 - 1,966,107 - 1,966,107 TOTAL DEBT SERVICE REVENUES 755,624 2,677,832 895 3,434,351 Principal Interest Agent Fees TOTAL Expenditures Payment Payments and Administration BUDGET Improvement Bonds 2003 Street Improvement Bonds 105,000 2,100 1,500 108,600 2004 Street Improvement Bonds 95,000 8,209 1,500 104,709 2006 Street Improvement Bonds 140,000 20,053 1,500 161,553 2008 Street Improvement Bonds 250,000 58,508 1,500 310,008 590,000 88,870 6,000 684,870 General Obligation Bonds Police&Fire Building Refunding Bonds 700,000 11,725 1,500 713,225 Tax Increment Bonds G.O.Tax Increment Bonds 1,240,000 563,763 1,500 1,805,263 G.O.Tax Increment Bonds 125,000 34,344 1,500 160,844 1,365,000 598,107 3,000 1,966,107 TOTAL DEBT SERVICE EXPENDITURES 2,655,000 698,702 10,500 3,364,202 NET TOTAL DEBT SERVICE BUDGET 70,149 debt principal 219 1/23/2013 City of Brooklyn Center 2013 Debt Service Required Principal Payments Original Issue Prior Years 2013 Balance Due Final Maturity Issue Name Amount Payments Payment 12/31/2013 Date Improvement Bonds 2003 Street Improvement Bonds 1,205,000 1,100,000 105,000 - 2/1/2013 2004 Street Improvement Bonds 1,010,000 735,000 95,000 180,000 2/1/2015 2006 Street Improvement Bonds 1,460,000 850,000 140,000 470,000 2/1/2017 2008 Street Improvement Bonds 2,390,000 790,000 250,000 1,350,000 2/1/2019 6,065,000 3,475,000 590,000 2,000,000 General Obligation Bonds Police&Fire Building Refunding Bonds 5,045,000 4,345,000 700,000 - 2/1/2013 i Tax Increment Bonds G.O.Tax Increment Bonds 17,245,000 5,200,000 1,240,000 10,805,000 2/1/2020 G.O.Tax Increment Bonds 4,335,000 3,585,000 125,000 625,000 2/1/2018 21,580,000 8,785,000 1,365,000 11,430,000 Utility Revenue Bonds G.O. Utility Revenue Bonds(BAB) 2,350,000 140,000 135,000 2,075,000 2/1/2025 TOTAL BONDED INDEBTEDNESS 3510401000 1617454000 29790,000 1515059000 debt principal 220 1/23/2013 CITY OF BROOKLYN CENTER Budget Report 2010 2011 2012 12/31/2012 2013 2013 Actual Actual Final YTD Recommended Approved Object Code/Description Amount Amount Budget Actual Budget Budget 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 93,734- 81,748- 131,550- 68,386- 123,983- 123,983- 4603 INTEREST EARNINGS 573- 596- 100- 378- 340- 340- 4605 UNREALIZED INVESTMENT GAIN/LOS 495 239- 4600 MISCELLANEOUS REVENUE 93,813- 82,582- 131,650- 68,764 124,323- 124,323- 4599 MISCELLANEOUS REVENUE 93,813- 82,582- 131,650- 68,764 124,323- 124,323- 4900 OTHER FINANCING SOURCES 4915.7 TRANSFERS IN FROM DEBT SERV FD 964,830- 49OU OTHER FINANCING SOURCES 964,83D- 4001 REVENUES 93,813- 82,582- 131,650- 1,033,595- 124,323- 124,323- 6001 EXPENDITURES/EXPENSES 6600 DEBT SERVICE 6601 BOND PRINCIPAL 115,000 110,000 110,000 110,000 105,000 105,000 6611 BOND INTEREST 14,489 10,470 6,317 6,318 2,100 2,100 6621 PAYING AGENT/OTHER FEES 1,272 1,244 1,500 1,279 1,500 1,500 6600 DEBT SERVICE 130,761 121,714 117,817 117,596 108,600 108,600 6001 EXPENDITURES/EXPENSES 130,761 121,714 117,817 117,596 108,600 108,600 4000 REVENUES AND EXPENSES 36,948 39,131 13,833- 915,999- 15,723- 15,723 47521 2003A-GO IMPROVEMENT BONDS 36,948 39,131 13,833- 915,999- 15,723- 15,723- 31100 GO IMPROVEMENT BONDS-2003A 36,948 39,131 13,833- 915,999- 15,723- 15,723- 221 CITY OF BROOKLYN CENTER Budget Report 2010 2011 2012 12/31/2012 2013 2013 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 4100 AD VALOREM TAXES 4599 MISCELLANEOUS REVENUE 4600 MISCELLANEOUS REVENUE 4601 SPECIAL ASSESSMENTS 72,694- 66,355- 123,036- 56,278- 116,689• 116,689- 4603 INTEREST EARNINGS 1,126- 1,265- 1,000- 462- 70- 70- 4605 UNREALIZED INVESTMENT GAINILOS 804 408- 4600 MISCELLANEOUS REVENUE 73,017- 68,027- 124,036- 56,740- 116,759- 116,759• 4599 MISCELLANEOUS REVENUE 73,017- 68,027- 124,036- 56,740- 116,759- 116,759• 4900 OTHER FINANCING SOURCES 4001 REVENUES 73,017- 68,027- 124,036- 56,740- 116,759- 116,759- 6001 EXPENDITURES/EXPENSES 6600 DEBT SERVICE 6601 BOND PRINCIPAL 100,000 100,000 95,000 95,000 95,000 95,000 6611 BOND INTEREST 17,925 14,775 11,576 11,486 8,209 8,209 6621 PAYING AGENT/OTHERFEES 1,148 3,883 1,500 1,165 1,500 1,500 6600 DEBT SERVICE 119,073 118,658 108,076 107,651 104,709 104,709 6001 EXPENDITURESIEXPENSES 119,073 118,658 108,076 107,651 104,709 104,709 4000 REVENUES AND EXPENSES 46,056 50,630 15,960- 50,911 12,050- 12,050- 47522 2004C-GO IMPROVEMENT BONDS 46,056 50,630 15,960- 50,911 12,050- 12,050- 31200 GO IMPROVEMENT BONDS-2004C 46,056 50,630 15,860- 50,911 12,050- 12,050- 222 CITY OF BROOKLYN CENTER Budget Report 2010 2011 2012 12/31/2012 2013 2013 Actual Actual Final YTD Recommended Approved Object Code i 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 156,347- 167,083- 185,082- 141,835- 177,271- 177,271- 4603 INTEREST EARNINGS 1,340- 1,736- 1,000• 752- 95- 95- 4605 UNREALIZED INVESTMENT GAIN/LOS 1,057 629- 4606 OTHER REVENUE 12- 4600 MISCELLANEOUS REVENUE 156,630- 169,447- 186,082- 142,598- 177,366- 177,366- 4599 MISCELLANEOUS REVENUE 156,630- 169,447- 186,082- 142,598- 177,366- 177,366- 4900 OTHER FINANCING SOURCES 4001 REVENUES 156,630- 169,447- 186,082- 142,598- 177,366- 177,366- 6001 EXPENDITURES/EXPENSES 6600 DEBT SERVICE 6601 BOND PRINCIPAL 150,000 145,000 145,000 145,000 140,000 140,000 6611 BOND INTEREST 35,620 30,384 25,200 25,200 20,053 20,053 6621 PAYING AGENT/OTHER FEES 1,298 1,280 1,500 1,316 1,500 1,500 6600 DEBT SERVICE 186,918 176,664 171,700 171,516 161,553 161,553 6001 EXPENDITURES/EXPENSES 186,918 176,664 171,700 171,516 161,553 161,553 4000 REVENUES AND EXPENSES 30,287 7,216 14,382- 28,918 15,813- 15,813- 47524 2006A-GO IMPROVEMENT BONDS 30,287 7,216 14,382- 28,918 15,813- 15,813- 31400 GO IMPROVEMENT BONDS-2006A 30,287 7,216 14,382- 28,918 15,813- 15,813- 223 CITY OF BROOKLYN CENTER Budget Report 2010 2011 2012 12/31/2012 2013 2013 Actual Actual Final YTD Recommended Approved Object Code/Description Amount Amount Budget Actual Budget Budget 31500 GO IMPROVEMENT BONDS-2008B 47525 2008B-GO IMPROVEMENT BONDS 4000 REVENUES AND EXPENSES 4001 REVENUES 4050 TAXES 4100 AD VALOREM TAXES 4599 MISCELLANEOUS REVENUE 4600 MISCELLANEOUS REVENUE 4601 SPECIAL ASSESSMENTS 353,935- 399,802- 352,116- 286,550- 337,681- 337,681- 4603 INTEREST EARNINGS 2,090- 3,143- 1,500- 1,477- 190- 190- 4605 UNREALIZED INVESTMENT GAIN/LOS 1,782 1,204- 4600 MISCELLANEOUS REVENUE 354,243- 404,149- 353,616- 288,027- 337,871- 337,871- 4599 MISCELLANEOUS REVENUE 354,243- 404,149- 353,616- 288,027- 337,871- 337,871- 4900 OTHER FINANCING SOURCES 4001 REVENUES 354,243- 404,149- 353,616- 288,027- 337,871- 337,871- 6001 EXPENDITURES/EXPENSES 6600 DEBT SERVICE 6601 BOND PRINCIPAL 275,000 260,000 255,000 255,000 250,000 250,000 6611 BOND INTEREST 84,089 75,395 66,997 67,026 58,508 58,508 6621 PAYING AGENT/OTHER FEES 2,000 1,532 1,500 1,127 1,500 1,500 6600 DEBT SERVICE 361,089 336,927 323,497 323,153 310,008 310,008 ! 6001 EXPENDITURES/EXPENSES 361,089 336,927 323,497 323,153 310,008 310,008 4000 REVENUES AND EXPENSES 6,845 67,223- 30,119- 35,126 27,863- 27,863- 47525 20088-GO IMPROVEMENT BONDS 6,845 67,223- 30,119- 35,126 27,863- 27,863- 31500 GO IMPROVEMENT BONDS-2008B 6,845 67,223- 30,119- 35,126 27,863- 27,863- 224 CITY OF BROOKLYN CENTER Budget Report 2010 2011 2012 12/31/2012 2013 2013 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 698,186- 677,732- 708,581- 689,205- 711,725- 711,726- 4120 DELINQUENTAD VALOREM TAXES 8,949- 7,466- 8,005- 4100 AD VALOREM TAXES 707,135- 685,198- 708,581- 697,210- 711,725- 711,725- 4050 TAXES 707,135- 685,198- 708,581- 697,210- 711,725- 711,725- 4599 MISCELLANEOUS REVENUE 4600 MISCELLANEOUS REVENUE 4603 INTEREST EARNINGS 3,304- 4,578- 2,000- 1,861- 200- 200- 4605 UNREALIZED INVESTMENT GAIN/LOS 3,129 1,902- 4600 MISCELLANEOUS REVENUE 175- 6,480- 2,000- 1,861- 200- 200- 4599 MISCELLANEOUS REVENUE 175- 6,480- 2,000- 1,861- 200- 200- 4900 OTHER FINANCING SOURCES 4001 REVENUES 707,310- 691,678- 710,581- 699,071- 711,925- 711,926- 6001 EXPENDITURES/EXPENSES 6600 DEBT SERVICE 6601 BOND PRINCIPAL 640,000 640,000 685,000 685,000 700,000 700,000 6611 BOND INTEREST 75,153 55,633 34,581 34,581 11,725 11,725 6621 PAYING AGENT/OTHER FEES 756 756 1,500 806 1,500 1,500 6600 DEBT SERVICE 715,909 696,389 721,081 720,388 713,225 713,225 6001 EXPENDITURES/EXPENSES 715,909 696,389 721,081 720,388 713,225 713,225 4000 REVENUES AND EXPENSES 8,598 4,711 10,500 21,316 1,300 1,300 47523 2004A-GO BLDG BONDS REFUNDING 8,598 4,711 10,500 21,316 1,300 1,300 31300 GO BLDG BONDS REFINANCE-2004A 8,598 4,711 10,500 21,316 1,300 1,300 225 i This page has been left blank intentional/y, 226 i CITY OF BROOKLYN CENTER Budget Report 2010 2011 2012 12/3112012 2013 2013 Actual Actual Final YTD Recommended Approved Object Code/Description Amount Amount Budget Actual Budget Budget 37600 TAX INCREMENT BONDS-2008A 47611 200BA-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 4915.5 TRANSFERS IN FROM TIF#3 FUND 1,739,431- 170,125- 166,031- 165,331- 160,844 160,844 4900 OTHER FINANCING SOURCES 1,739,431- 170,125- 166,031- 165,331- 160,844- 160,844 4001 REVENUES 1,739,431- 170,125- 166,031- 165,331- 160,844 160,844 6001 EXPENDITURES/EXPENSES 6600 DEBT SERVICE 6601 BOND PRINCIPAL 1,665,000 125,000 125,000 125,000 125,000 125,000 6611 BOND INTEREST 73,681 44,375 39,531 39,531 34,344 34,344 i 6621 PAYING AGENT/OTHER FEES 750 750 1,500 800 1,500 1,500 f 6600 DEBT SERVICE 1,739,431 170,125 166,031 165,331 160,844 160,844 6001 EXPENDITURES/EXPENSES 1,739,431 170,125 166,031 165,331 160,844 160,844 i i i 227 CITY OF BROOKLYN CENTER Budget Report 2010 2011 2012 12/31/2012 2013 2013 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 4900 OTHER FINANCING SOURCES 4915.5 TRANSFERS IN FROM TIF 93 FUND 1,399,575- 1,399,781- 1,413,712- 1,413,019- 1,805,263- 1,805,263- 4900 OTHER FINANCING SOURCES 1,399,575- 1,399,781- 1,413,712- 1,413,019- 1,805,263- 1,805,263- 4001 REVENUES 1,399,575- 1,399,781- 1,413,712- 1,413,019- 1,805,263- 1,805,263- 6001 EXPENDITURES/EXPENSES 6600 DEBT SERVICE 6601 BOND PRINCIPAL 715,000 750,000 800,000 800,000 1,240,000 1,240,000 6611 BOND INTEREST 683,819 649,025 612,212 612,213 563,763 563,763 6621 PAYING AGENTIOTHER FEES 756 756 1,500 806 1,500 1,500 6600 DEBT SERVICE 1,399,575 1,399,781 1,413,712 1,413,019 1,805,263 1,805,263 6001 EXPENDITURESIEXPENSES 1,399,575 1,399,781 1,413,712 1,413,019 1,805,263 1,805,263 228