HomeMy WebLinkAboutCAFR-2019
Comprehensive Annual Financial Report
For the year ended December 31, 2019
City of Brooklyn Center, Minnesota
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Department of
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City Advisory
Department of
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Fiscal
Department of
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Community
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Fire
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Department of
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Community
City Attorney
klyn
Organizational
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of Community
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City
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INDEPENDENT AUDITORS REPORT
To the City Council and Management
City of Brooklyn Center, Minnesota
RFS
EPORT ON THE INANCIAL TATEMENTS
We have audited the accompanying financial statements of the governmental activities, the business-type
activities, each major fund,and the aggregate remaining fund information of the City of Brooklyn Center,
Minnesota(the City)as of and for the year ended December 31,2019,and the related notes to the
financial statements, which collectively comprise the Citys basic financial statements as listed in the
table of contents.
MRFS
ANAGEMENTSESPONSIBILITY FOR THE INANCIAL TATEMENTS
Management is responsible for the preparation and fair presentation of these financial statements in
accordance with accounting principles generally accepted in the United States of America; this includes
the design, implementation, and maintenance of internal control relevant to the preparation and fair
presentation of financial statements that are free from material misstatement, whether due to fraud or
error.
AR
UDITORSESPONSIBILITY
Our responsibility is to express opinions on these financial statements based on our audit. We conducted
our audit in accordance with auditing standards generally accepted in the United States of America and
the standards applicable to financial audits contained in Government Auditing Standards, issued by the
Comptroller General of the United States. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in
the financial statements. The procedures selected depend on the auditors judgment, including the
assessment of the risks of material misstatement of the financial statements, whether due to fraud or error.
In making those risk assessments, the auditor considers internal control relevant to the Citys preparation
and fair presentation of the financial statements in order to design audit procedures that are appropriate in
the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Citys
internal control. Accordingly, we express no such opinion. An audit also includes evaluating the
appropriateness of accounting policies used and the reasonableness of significant accounting estimates
made by management, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for
our audit opinions.
(continued)
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O
PINIONS
In our opinion, the financial statements referred to on the previous page present fairly, in all material
respects, the respective financial position of the governmental activities, the business-type activities, each
major fund,and the aggregate remaining fund informationof the City as of December31,2019, and the
respective changes in financial position and, where applicable, cash flows thereof,and the budgetary
comparison for the General Fund and budgeted major special revenue funds for the year then ended, in
accordancewith accounting principles generally accepted in the United States of America.
OM
THER ATTERS
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the managements
discussion and analysis and the required supplementary information (RSI), as listed in the table of
contents, be presented to supplement the basic financial statements. Such information, although not a part
of the basic financial statements, is required by the Governmental Accounting Standards Board, who
considers it to be an essential part of financial reporting for placing the basic financial statements in an
appropriate operational, economic, or historical context. We have applied certain limited procedures to
the RSI in accordance with auditing standards generally accepted in the United States of America, which
consisted of inquiries of management about the methods of preparing the information and comparing the
information for consistency with managements responses to our inquiries, the basic financial statements,
and other knowledge we obtained during our audit of the basic financial statements. We do not express an
opinion or provide any assurance on the information because the limited procedures do notprovide us
with sufficient evidence to express an opinion or provide any assurance.
Other Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively
comprise the Citysbasic financial statements. The introductory section,combining and individualfund
statements and schedules,andstatistical section, as listed in the table of contents, are presented for
purposes of additional analysis and are notrequired partsof the basic financial statements.
The combining and individual fund statements and schedulesare the responsibility of management and
were derived from and relate directly to the underlying accounting and other records used to prepare the
basic financial statements. Suchinformation has been subjected to the auditing procedures applied in the
audit of the basic financial statements and certain additional procedures, including comparing and
reconciling such information directly to the underlying accounting and other records used to prepare the
basic financial statements or to the basic financial statements themselves, and other additional procedures
in accordance with auditing standards generally accepted in the United States of America. In our opinion,
thecombining and individual fund statements and schedulesarefairly stated, in all material respects, in
relation to the basic financial statements as a whole.
Theintroductory and statistical sectionshavenot been subjected to the auditing procedures applied in the
audit of the basic financial statements and,accordingly, we do not express an opinion or provide any
assurance onthem.
(continued)
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ORR
GAS
OVERNMENT UDITING TANDARDS
THER EPORTING EQUIRED BY
In accordance with Government Auditing Standards, we have also issued ourreport dated May 20, 2020
on our consideration of the Citys internal control over financial reporting and on our tests of its
compliance with certain provisions of laws, regulations, contracts, grant agreements, and other matters.
The purpose of that report is solely to describe the scope of our testing of internal control over financial
reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness
of the Citys internal control over financial reporting or on compliance. That report is an integral part of
an audit performed in accordance with Government Auditing Standardsin considering the Citys internal
control over financial reporting and compliance.
Minneapolis, Minnesota
May 20, 2020
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These tables contain trend information to help the reader understand the
City’s financial performance by placing it in historical perspective.
These tables contain information to help the reader assess the City’s most
significant “own-source” revenue, property taxes.
These tables present information to help the reader assess the affordability
of the government’s current levels of outstanding debt and the City’s ability
to issue debt in the future.
These tables offer demographic and economic indicators to help the reader
understand the environment within which the City’s financial activities take
place.
These tables contain service and infrastructure data to help the reader
understand how the City’s financial report relates to the services the City
provides and the activities it performs.
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