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1984 CAFR t e s ��' CITY OF FRIDLEY STATE OF MINNESOTA 2 Cm' Or Flap e B , c f''' : ; I r i .:i ilLiii) 1 f . '` r if co f ' ' i COMPREHENSIVE "46t. ANNUAL 3 y � � , � , , FINANCIAL ' . . 1,1=f . ' ; r REPORT tok,, . ..„'.4i454.',:i1;"4:1 t7'''')Ili*,,,,,,11 kr::::/k t",'1' !4 1 I a' '4 4 I ''" '�..: {�t` yam' , 5 •� 4' L 6 # 1`�u 1 111! {jf ,. M„9 ,���X. ?�; P � � 4- it F a� qt ti , t a" l mailil 4 . .. ... .f.., , ,, .......,..„:„ - - , ir--. ' *lie \ ` '#i1"/,,,,, Al FOR THE YEAR ENDED ' '. DECEMBER 31, 1984 CITY OF FRIDLEY, MINNESOTA Comprehensive Annual Financial Report December 31, 1984 Prepared by: Department of Finance Sidney C. Inman Director of Central Services Richard D. Pribyl Finance Officer CITY OF FRIDLEY, MINNESOTA COMPREHENSIVE ANNUAL FINANCIAL REPORT _ YEAR ENDED DECEMBER 31, 1984_ TABLE OF CONTENTS EXHIBIT PAGE INTRODUCTORY SECTION '— List of Elected and Appointed Officials 1 Organizational Structure 2 City Manager's Letter of Transmittal 5 Chief Executive Officer's Letter of Transmittal 7 Certificate of Conformance �3 FINANCIAL SECTION Auditor's Opinion 25 Combined Financial Statements - Overview ("Lifetable" General Purpose Financial Statements) Combined Balance Sheet - All Fund Types and Account Groups A-1 28 Combined Statement of Revenues, Expenditures and Changes in Fund Balances - All Governmental Fund Types and Expendable Trust Funds A-2 32 Combined Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - General and Special Revenue Fund Types A-3 34 Combined Statement of Revenues, Expenses _ and Changes in Retained Earnings - All Proprietary Fund Types A-4 36 Combined Statement of Changes in Financial Position - All Proprietary Fund Types A-5 37 Notes to Financial Statements 38 Financial Statements of Individual Funds: General Fund: Comparative Balance Sheet B-1 59 Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual B-2 60 _ Schedule of Revenues and Other Financing Sources - Budget and Actual B-3 61 Schedule of Expenditures and Other Financing Uses - Budget and Actual B-4 63 CITY OF FRIDLEYL MINNESOTA — COMPREHENSIVE ANNUAL FINANCIAL REPORT YEAR ENDED DECEMBER 31, 1984 TABLE OF CONTENTS (CONTINUED) EXHIBIT PAGE — Special Revenue Funds: Combining Balance Sheet C-1 68 Combining Statement of Revenues, Expenditures — and Changes in Fund Balances C-2 70 Municipal State Aid Fund: Comparative Balance Sheet C-3 72 Statement of Revenues, Expenditures and — Changes in Fund Balance - Budget and Actual C-4 73 Revenue Sharing Fund: _ Comparative Balance Sheet C-5 74 Statement of Revenues, Expenditures and -- Changes in Fund Balance - Budget and Actual C-6 75 Cable TV Fund: _ Comparative Balance Sheet C-7 76 Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual C-8 77 Home Ownership Fund: Comparative Balance Sheet C-9 78 Imn Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual C-10 79 Housing and Redevelopment Authority Fund: "- Comparative Balance Sheet C-11 80 Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual C-12 81 Debt Service Funds: Combining Balance Sheet D-1 83 Combining Statement of Revenues, Expenditures and Changes in Fund Balances D-2 84 .. CITY OF FEIDLEY, MINNESOTA COMPREHENSIVE ANNUAL FINANCIAL REPORT YEAR ENDED DECEMBER 31, 1984 TABLE OF CONTENTS (CONTINUED) EXHIBIT PAGE Capital Projects Funds: Combining Balance Sheet E-1 86 Combining Statement of Revenues, Expenditures and Changes in Fund Balances E-2 88 Special Assessment Funds: Combining Balance Sheet F-1 93 Combining Statement of Revenues, Expenditures and Changes in Fund Balances F-2 94 Enterprise Funds: Combining Balance Sheet G-1 95 - Combining Statement of Revenues, Expenses and Changes in Retained Earnings G-2 96 .- Combining Statement of Changes in Financial Position G-3 97 Liquor Fund: Comparative Balance Sheet G-4 98 Comparative Statement of Revenues, Expenses and Changes in Retained Earnings G-5 99 Comparative Statement of Changes in Financial Position G-6 100 Public Utilities Fund: ••••1 Comparative Balance Sheet G-7 101 Comparative Statement of Revenues, Expenses and Changes in Retained Earnings G-8 102 Comparative Statement of Changes in Financial Position G-9 103 Internal Service Funds: Combining Balance Sheet H-1 105 CITY OF FRIILEY, MINNESOTA — COMPREHENSIVE ANNUAL FINANCIAL REPORT YEAR ENDED DECEMBER 31, 1984 TABLE OF CONS (CONTINUED) — EXHIBIT PAGE — Combining Statement of Revenues, Expenses and Changes in Retained Earnings H-2 106 — Combining Statement of Changes in Financial Position H-3 107 Employee Benefits Fund: Comparative Balance Sheet H-4 108 — Comparative Statement of Revenues, Expenses and Changes in Retained Earnings H-5 109 — Comparative Statement of Changes in Financial Position H-6 110 Management Information Services Fund: Comparative Balance Sheet H-7 111 — Comparative Statement of Revenues, Expenses and Changes in Retained Earnings H-8 112 — Comparative Statement of Changes in Financial Position H-9 113 — Trust and Agency Fund: Comparative Balance Sheet I-1 115 — Comparative Statement of Revenues, Expenditures and Changes in Fund Balance I-2 116 — General Fixed Assets: Comparative Statement of General Fixed Assets - By Sources J-1 117 Schedule of General Fixed Assets - By Function —. and Activity J-2 118 Schedule of Changes in General Fixed Assets - --By Function and Activity J-3 119 General Long-Term Debt: Comparative Statement of General Long-Term Debt K-1 121 CITY OF FRIDLEY, MINNESOTA COMPREHENSIVE ANNUAL FINANCIAL REPORT YEAR ENDED DECKER 31, 1984 TABLE OF CONTENTS (CONTINUED) TABLE PAGE STATISTICAL SECTION General Governmental Expenditures by Function - Last Ten Fiscal Years 1 123 General Revenues by Source - Last Ten Fiscal Years 2 124 Certified Property Tax Levies and Collections - Last Ten Fiscal Years 3 125 Assessed and Estimated Market Value of All Taxable Property - Last Ten Fiscal Years 4 126 Statement of Valuations and Levies By Classes '- of Property 5 128 Significant Minnesota Tax Policies 130 Property Tax Rates Per $1 ,000 of Assessed Value and Calculated Tax Levies - All Overlapping Governments - Last Ten Fiscal Years 6 132 Special Assessment Levies and Collections - Last Ten Fiscal Years 7 134 History of Certified Tax Levies and Actual Mill Rates - Last Ten Fiscal Years 8 136 Ratio of Net General Bonded Debt to Assessed Values and net Bonded Debt Per Capita - Last Ten Fiscal Years 9 138 Computation of Legal Debt Margin 10 140 Computation of Direct and Overlapping Bonded Debt and Comparative Debt Ratios 11 142 Ratio of Annual Debt Service Expenditures for General Bonded Debt to Total General Government Expenditures - Last Ten Fiscal Years 12 143 Revenue Bond Coverage - Last Ten Fiscal Years 13 144 Demographic Statistics - Last Ten Fiscal Years 14 145 Construction, Bank Deposits and Property Value - Last Ten Fiscal Years 15 146 CITY OF FRIDLEY, MINNESOTA COMPREHENSIVE ANNUAL FINANCIAL REPORT YEAR ENDED DECEMBER 31, 1984 — TABLE OF CONTENTS (CONTINUED) TABLE PAGE Principal Taxpayers 16 147 — Insurance Coverage 148 City Capital Improvement Financing Policy 149 Miscellaneous Statistical Information 150 General Information 153 a INTRODUCTORY SECTION 4 a a a. a a CITY OF FRIDLEY, MINNESOTA ELECTED AND APPOINTED OFFICIALS DECEMBER 31, 1984 ELECTED OFFICIALS Term of Office Expires December Mayor William J. Nee 1986 Councilmember At Large Robert L. Barnette 1986 Councilmember, Ward I Edward L. Hamernik 19811 Councilmember, Ward II Dennis L. Schneider 1985 Councilmember, Ward III Edward J. Fitzpatrick 1984 Effective January 1985 Mayor William J. Nee 1986 Councilmember At Large Robert L. Barnette 1986 Councilmember, Ward I Brian A. Goodspeed 1987 Councilmember, Ward II Dennis L. Schneider 1985 Councilmember, Ward III Edward J. Fitzpatrick 1987 APPOINTED OFFICIALS City Manager - Nasim M. Qureshi City Attorney - Virgil C. Herrick — Prosecuting Attorney - Carl J. Newquist City Clerk/Treasurer - Sidney C. Inman Department Heads: Director of Public Safety and Civil Defense Director - James P. Hill Fire Chief - Robert D. Aldrich Director of Public Works - John G. Flora '- Director of Parks, Recreation and Natural Resource - Charles A. Boudreau Director of Central Services - Sidney C. Inman Division Heads: City Planner - James L. Robinson — Finance Officer - Richard D. Pribyl Public Works Superintendent - Ralph S. Volkman Chief Building Official - Darrel G. Clark '— Liquor Stores Manager - Robert L. McGuire 1 CITY ADMINISTRATIVE CITYOF FRIDLEY - CITY MANAGER Personnel Officer/Admin. Asst. Management Assistant City Manager's Secretary Economic Dev. Asst. — Clerk Typist PARKS AND PUBLIC WORKS (38) RECREATION (13) — Public Works Director Parks and Recreation Director — Operations Analyst Parksl& Rec. Public Works Secretary Secretary Natural1ist/Resource Engineering Div. (3) Code Enforcement Division (4) Coordinator Asst. P.Wks. Director Chief Building Official Interpretive Spec. — Engineering Tech. Environmental Officer Recreation Supv. Eng. Aide/Admin. Plumbing Inspector Program Supv. Clerk/Secretary Park Foreman (7) Planning Division (31 City Planner Senior Parkkeeper Associate Planner 2 Opr. & Maint. Spec. -- 3 Opr. & Maint. Persons Clerk/Secretary Public Works Maintenance Division Supt. of Public Works (25) Clerk/Secretary Street Foreman (13) Water Foreman (5) Sewer Foreman (5) — Sr. Steet Operator Sr. Water Operator 2 Sr. Sewer Operators 3 Heavy Equip. Opr. Opr. & Maint. Spec. 2 Opr. & Maint. Persons Opr. & Maint. Spec. 2 Opr. & Maint. Persons 4 Opr. & Maint. Persons — 2 Mechanics Opr & Maint. Spec. — 2 ORGANIZATIONAL STRUCTURE 1984 (126) Director Central Services/Clerk Treasurer (22) Finance' Officer (_9) General 'Accountant Sr. Util Billg Clk Budget Control Asst. Record Spec/Dpt C.Clk ._ Payb/Data Proc Clk Sr. Assess. Clerk Clerk-Purchasing Word Processing Opr. Acctg/Data Proc Clk Receptionist/Lic Clk Acctg/Data Input Clk Cashier PUBLIC SAFETY (42) FIRE (6) Assistant City Manager/ ... Public Safety Director Fire Chief (C.D.Dir.) Police Secretary Deputy Fire Chief Captain 2 Firefighters ._ Clerk Typist II (C.D.) Deputy P.S.D. 4 Sergeants 3 Corporals 23 Police Officers 1 P.S. Project Coordinator 1 Crime Prevention Specialist 1 Police Technician 2 Senior Office Assistants LiquortDivision Property Tax Division 4 Office Assistants Liquor Store Manager (4) Assessor (3) Asst. Liquor Store Mgr. Appraiser Head Liquor Clerk Tax Assess. Clerk Liquor Store Clerk POSITION DISCONTINUED: 1 Appraiser (--)= Number of full time employees 3 CITYOF FRIDLEY CIVIC CENTER • 6431 UNIVERSITY AVE. N.E. FRIDLEY,MINNESOTA 55432 • PHONE(612)571-3450 May 14, 1985 The Honorable Mayor and City Council City of Fridley Fridley, Minnesota 55432 Gentlemen: In accordance with the Charter, we hereby transmit the Comprehensive Annual Financial Report of the City of Fridley for the year ending December 31 , 1984. The Report includes an excellent and comprehensive letter from Mr. Sidney C. Inman, Director of Central Services and Mr. Richard D. Pribyl, Finance Officer, which assists in a ready understanding of the several accounts and funds and matters covered by the Report. I would express appreciation and commendation to them and the Finance Division staff for the manner in which the accounts are kept and the Report presented. I would also express appreciation for the commendable administrative financial management of the several departments and divisions by the respective department and division heads as revealed by this Report. Very truly yours, . frt. 04404 Nasim M. Qureshi City Manager 5 1RJ CI1YOF FRIDLEY CIVIC CENTER • 6431 UNIVERSITY AVE. N.E. FRIDLEY, MINNESOTA 55432 • PHONE(612)571-3450 May 14, 1985 Mr. Nasim M. Qureshi, City Manager Mayor William J. Nee and Council Members Fridley, Minnesota 55432 Dear Mr. Qureshi, Mayor Nee and Council Members: The Comprehensive Annual Financial Report of the City of Fridley Minnesota, for the fiscal year ending December 31 , 1984, is submitted herewith: The organization, form, and contents of this report were prepared in accordance with the standards prescribed by the Government Finance Officers Association of the United States and Canada, the American Institute of Certified Public Accountants, the Governmental Accounting Standards Board, and the Minnesota State Auditors Office. The Government Finance Officers Association awards Certificates of Conformance to those governments whose annual financial reports are judged to conform substantially with high standards of public financial reporting including generally accepted accounting principles promulgated by the Governmental Accounting Standards Board. The City of Fridley was awarded a Certificate of Conformance for its annual financial report for the fiscal year 1983. It is my belief that the accompanying fiscal year 1984 financial report continues to meet program standards and it will be submitted to the Government Financial Officers Association for review. The Report was prepared by the City's Finance Staff and consists of three sections: Section I is the introductory section and contains the table of contents, letter of transmittal, and other appropriate material. Section II is the financial section and contains the accountant' s opinion, the combined financial statements, notes to the financial statements, combining statements, individual funds statements, and account group statements. Section III is the statistical section which includes the previous ._ year's financial and non-financial data. 7 Responsibility for both the accuracy of the presented data and the — completeness and fairness of the presentation including all disclosures rests with the City. We believe the data as presented is accurate in all material aspects, that it is presented in a manner designed to fairly set forth the — financial position and results of operations of the City as measured by the financial activity of its various funds, and that all disclosures necessary to enable the reader to gain the maximum understanding of the City's financial — activity have been included. ACCOUNTING SYSTEM AND BUDGETARY CONTROL -' The accounting sytem provides for a complete self-balancing account group for each fund of the City. Accounting records are maintained on the modified — accrual basis for the governmental type funds and the trust and agency funds, and the accrual basis of accounting is utilized for the proprietary type funds as defined in the notes to the financial statements. — In developing and improving the City' s accounting system, consideration is given to the adequacy of internal accounting controls. Internal accounting controls are designed to provide reasonable, but not absolute, assurance — regarding the safeguarding of assets against loss from unauthorized use or disposition and the reliability of financial records for preparing financial statements and maintaining accountability for assets. The concept of — reasonable assurance recognizes that the cost of a control should not exceed the benefits likely to be derived and the evaluation of costs and benefits requires estimates and judgements by management. All internal control evaluations occur within the above framework. We believe that the City's internal accounting controls adequately safeguard assets and provide reasonable assurance of the proper recording of financial — transactions. A complete budgetary system of accounts is maintained for the General and Special Revenue Funds. Budgetary control is maintained in compliance with the City Charter Requirements. The Charter provides that it is the duty of the City Manager to strictly enforce the provisions of the budget. The management policy of the City is such that the existence of a particular item or appropriation in the approved budget does not mean that it will or must be automatically expended. It is the policy of the City to control budgets at the expenditure category level. Budget adjustments between City divisions are made upon the approval of a resolution by the City Council. The City Charter provides that the City Council shall not have power to — increase the total amount of the budget, whether by insertion of new items or otherwise, beyond the estimated revenue unless the actual revenue exceeds such revenue estimates, and in that event not beyond such actual revenue. There is — a constant review process. Expenditures are not approved until it has been determined that 1) adequate funds have been appropriated, 2) the expenditure is necessary, and 3) funds are available. THE REPORTING ENTITY AND ITS SERVICES The funds and entities included in this comprehensive annual financial report are controlled by or dependent on the City of Fridley. This report follows the criteria as set forth by the National Council on Governmental Accounting, — 8 Statement 3. Defining the Governmental Reporting Entity. As such, the activities of the Fridley Housing and Redevelopment Authority (HRA) which is a -. separate legal entity but is under the immediate control of the City Council is included as a part of this statement. Financial information relating to the Fridley Fire Relief Association and the Fridley Police Relief Association are not presented in this report. In applying the criteria of oversight responsibility to the two relief associations, it was determined that the criteria were not applicable to them. Since there was a lack of criteria necessary to establish manifestation of oversight responsibility, the two entities were excluded from this report. The City provides a full range of municipal services. These include police, ... fire, parks and recreation, public improvements, street maintenance, sanitary sewer and water utilities, liquor sales, planning and general administrative services. CITY FINANCIAL PROSPECTS FOR ruiuRE YEARS Based on trends of the past several years and current projections, there will be a greater reliance on property taxes and user fees and a de-emphasis of intergovernmental revenues (federal and state) as sources for financing of City operations. There are additional revenue sources currently being explored, and all current charges for our services are being re-examined for appropriateness. Property tax collections have been fairly stable during the past ten years, (total collections compared with levies have varied from 90.41% to 99.00% during this period) which included several recessionary years; therefore, the prospect for property tax stability appears favorable. In the area of cost containment, the City has taken several steps to resist inflationary pressures and to conserve energy. The City has been striving to cut the cost of full-time staff by holding positions open for a year or two, ,■1 and trying to restructure those positions into other full-time positions or factoring out some of those responsibilities to part-time employment opportunities. Some of the energy conservation measures initiated include energy audits of all City-owned buildings with implementation of high pay-back -' conservation items, down-sizing of the City' s fleet (auto and trucks) and emphasizing use of diesel engines where practical. The use of our computer has expanded to all departments which should greatly reduce labor costs and greatly enhance administration and planning in conjunction with all user departments. The City's basic capital improvements (permanent street paving, water and sewer systems, and park acquisition/development) have all been substantially completed in prior years. This should result in minimal taxes and special assessment requirements on property owners for future years. The City's -' overall financial stability appears excellent, with continued emphasis on cost containment, including labor management control and reductions where possible. CASH MANAGEMENT All temporary cash surpluses during the year are invested in various securities which State statutes permit. The City' s policy is to invest all 9 available monies at competitive interest rates in accordance with the City' s over-all fiscal plan coordinated with operating needs and programs projected over the ensuing 12 month period. Investment yields ranged from 7.00% to — 11 .13% during the year. The 1984 earnings shown with prior years' earnings were distributed to the following fund types: 1984 1983 1982 1981 General $ 397,975 $ 277,480 $ 236,197 $ 311,544 — Special Revenue 237,632 244,579 245,792 174,198 Debt Service 66,799 52,355 129,544 5,401 Capital Projects 150.467 148,778 153,484 148,837 — Special Assessments 862,158 727,703 683,304 740,269 Enterprise 454.084 373,838 378,550 426,865 Internal Service 77,818 74,470 56,236 11 ,585 — Expendable Trust 3,725 2,112 2,502 2,445 $2,250,658 $1,901,315 $1,885,609 $1,821,144 DEBT ADMINISTRATION Net general bonded debt per capita, and the percentage of the net general bonded debt to assessed value are useful indicators of the City' s debt position. At December 31 , 1984 the City of Fridley' s debt service funds provided more capital than necessary to cover the net general bonded debt. - No bonds were issued by the City of Fridley during 1984. The total bonds outstanding for the City on December 31 , 1984 was $7,470,000. Below is a — table of the outstanding bonds: Remaining — Date of Amount Years Interest Is Outstanding of Issue Rate 1982 $ 625.000 15 8.50 - 10.70% 1982 1 ,125.000 15 8.50 - 10.70% 1982 600.000 15 6.50 - 9.75% 1981 2.150.000 14 7.10 - 9.00% — 1980 1 ,300.000 11 7.25 - 8.50% 1977 435,000 4 3.10 - 4.90% 1976 200.000 5 3.75 - 6.00% — 1975 145.000 4 6.00% 1972 525.000 9 3.80 - 5.30% 1967 80,000 3 4.20 - 4.50% — 1965 45.000 1 3.20 - 3.50% 1965 70,000 1 3.50% 1965 170,000 3 3.20 - 3.50% — #7,470,000 10 During 1984. the City was notified that Moody's Investor Service had continued a bond rating of Aa1 which the City achieved during 1982. As of December 31 , 1984, the City had issued $61,645,000 in Industrial Revenue Bonds which are permtted under Minnesota Statutes, Chapter 474. Listed below are the bonds issued: — !ATOM Date of Issue Amount Safetrans 03/21/77 $ 1 ,500,000 Perlman Rocque 05/07/79 2,500,000 Medtronics 11/05/79 1 ,000,000 Simer Pump 06/02/80 550,000 G. T. A. 10/20/80 6,000,000 Win-Stevens Datsun, Inc. 01/12/81 600,000 WWH Properties 11/23/81 1 ,250,000 Webb Company 12/14/81 9,000,000 LaMaur, Inc. 02/02/82 1 ,000,000 Gerald Paschke 05/03/82 750,000 -- Columbia Park Properties 06/07/82 4,000,000 Kuether Distributing, Inc. 10/04/82 2.000,000 73rd Avenue Partnership 10/25/82 1 ,500,000 ELO Engineering 09/12/83 1 ,300,000 Skywood Mall 11/21/83 7,000,000 Frank Shear Associates 12/19/83 2.175,000 -- Johnson Printing 12/19/83 2,400,000 Longview Fibre Company 03/26/84 3,200,000 River Road Investors 07/16/84 6,190,000 -� North Freeway Investors 07/16/84 7,730,000 $61,645,000 These Industrial Revenue Bonds are not a liability of the City and as such are not pledged by the full faith and credit of the City. We act only as an administrating agent in the issuance of these bonds. The bonds are a — liability of each company referenced above. FISCAL DISPARITIES The commonly referred to "Fiscal Disparity Law" was adopted by the Legislature in 1971 . The area of the fiscal disparity district encompasses all the '- properties located within the seven-county metropolitan area. The law provides that 40% of all new commercial/industrial property valuations or growth be placed in an areawide "pool", and shared according to specific — criteria. The Fiscal Disparity Law has had the following impact on the taxable valuations of the City for taxes collectible for years 1984, 1983, 1982, and 1981 : 11 1984 1983 1982 1981 Taxable values- City Personal property $ 9,143,348 $ 8,488,759 $ 8,311 ,212 $ 8,054,674 Real estate 224,638,752 220,511 ,750 207,339,276 180,937,326 — Less tax increment project valuations (2,765,895) (3,951 ,300) (2,892.948) (2,708,711) Subtotal City 231,016,205 225,049,209 212,757,540 186,283,289 — Areawide allocation Contribution to "Pool" (27,102.595) (25,629,645) (20,695,684) (17,377,237) — Distribution from "Pool" 15,369,625 12,509,174 11,355,678 7,354,639. Subtotal Pool (11,732,970) (13,120,471) (9,340,006) (10,022,598) — Total Taxable Value $219,283,235 $211,928,738 $203,417,534 $176,260,691 — TAX INCREMENT DISTRICTS — The City Council took action on May 7, 1979 to form the first of five tax increment districts. These districts were formed in economically depressed areas within the City. With the successful relationship that the City and the -" Housing and Redevelopment Authority have developed, many benefits have been derived. The Center City Tax Increment Area has, in the past two years, been the site of one of the largest growth areas within the City. — During the past two years, a clinic for a major health maintenance organization and a multi-level office complex have been completed. This year, — the Center City Area was the site of construction for Dayton-Hudson' s new regional headquarters for their Target retail operation. GENERAL FUND The General Fund accounts for all financial transactions not properly — accounted for in any other fund. Revenues (including transfers) of the General Fund totaled $6,952,787 , an increase of $503 ,076 from 1983 . Expenditures (including transfers) for the General Fund totaled $6,290,583, an — increase of $788,064 over the previous year. The fund balance increased by $662,204 and was $5,392,823 at the end of the year. The fund balance is used to provide working capital for the fund until tax -settlements are received in July and December of each year, to provide funds for unknown events which could have an adverse effect on the fund, and to help finance future budgets. — The following table shows the beginning-year General Fund Unreserved- Undesignated balances as compared to the adopted budget of the year indicated. — 12 Fund Balance General Beginning of Year -- Fund Budget Amount % of Budget 1980 $ 5,664,208 $2,273,575 40.1 — 1981 6,101.166 378,727 6.2 1982 6,180,388 934,413 15.1 1983 6,366,475 610,071 9.6 — 1984 7,230.491 1 ,531 ,908 21.2 The amount of revenue from various sources and the changes from the previous year are summarized in the following table. Increase 1984 Percent (Decrease) Amount of Total from 1983 General property taxes $2.516,884 36.2 $ 23,784 —' Licenses and permits 359,605 5.2 87,617 Intergovernmental revenue 2,795,766 40.2 347,629 Charges for services 145,394 2.1 14,376 Fines and forfeits 178,320 2.6 (19,446) Interest on investments 397,975 5.7 120,495 Miscellaneous 98,691 1.4 38,469 --- Transfers 460,152 6.6 (109,848) Total revenue $6,952,787 100.0% $ 503,076 General property taxes accounted for 36.2% of the General Fund revenues (38.7% in 1983) and current tax collections were 96.72% of the total tax levy for 1984. Changes in levels of expenditures for major functions of the City over the preceding year are shown in the following table. — Increase 1984 Percent (Decrease) Expenditures by Function Amount of Total from 1983 General government $ 806,399 12.8 $ 57,010 Public safety 2,201 ,155 35.0 52,321 Civic center 149,332 2.4 (7,376) Public works 1 ,887,379 30.0 239,014 Parks and recreation 442,917 7.0 214 -- Capital outlay 491 ,518 7.8 260,128 Transfers 311 ,883 5.0 , 186,753 $6,290,583 100.0% #788,064 — 13 The mill rates by purpose for the past two fiscal years are as follows: — Purpose 1984 1983 General Fund 13.970 14.525 General Debt Service .166 .172 Capital Improvement .204 .211 — 14.340 14.908 SPECIAL REVENUE FUNDS Purpose Special Revenue Funds are used to account for revenues derived from specific taxes or other earmarked revenue sources. They are usually required by — Statute, Charter provisions, or local ordinance to finance particular functions or activities of government. Municipal State-Aid Fund - Gasoline tax collection apportioned to the City by the State of Minnesota for street construction is accounted for in this fund. Gasoline tax — apportionments used for maintenance purposes are accounted for in the General Fund. Transfers are also made back to this fund from Special Assessment Funds. Such funds are derived from the excess of the construction funds received from the State of Minnesota plus the special assessments levied less _- the cost of the project. This excess is transferred back to the Municipal State-Aid Fund where the funds are earmarked for seal coating projects or the City's share of sidewalk or street improvement projects. — The fund balance at December 31 , 1984 was $1 , 169,485 which was an increase from the previous year of $32,394. Revenues totaled $457,902, which is the — combination of State Aid and interest earned on the cash held in this fund. The State Aid portion of the revenues increased from the previous year by $97,246. The expenditures from this fund were in the form of transfers to other funds and increased this year by $65,575. '^ Revenue Sharing Fund The Revenue Sharing Fund was established to account for the revenue received from the Federal Government in accordance with the "State and Local Fiscal Assistance Act of 1972. " Expenditure of these funds can be made only in — accordance with the provisions of that act. The City's share of these Revenue Sharing funds for the year 1984 was $196,565, which was an increase from 1983 of $9,207. Revenue Sharing funds are transferred from the Revenue Sharing Fund to the General Fund where the detailed amounts are budgeted. During 1984, transfers of these types totaled $187,000. The fund balance of December 31 , 1984 was $45,926 , which represents an increase of $17,179 from 1983. 14 s Cable TV Fund -. The Cable Television Fund was established to account for franchise fees (5% of CATV subscriber revenues). These revenues are dedicated to three uses: 1 ) establish a comprehensive Broadband Telecommunications Network regulating program, 2) develop and operate governmental and other access channels, 3) establish a CATV Advisory Committee, advising the City Council on CATV matters. As of December 31 , 1984 the fund balance totaled $78,381 . Home Ownership Fund In 1979, a grant was approved by HUD for the City of Fridley. The purpose of this grant was to facilitate home ownership for large, low income families. During 1982, the initial phase of the housing objective was achieved. During 1984, the City set the groundwork for the next phase of the family home ownership objective. The proposed Metropolitan Housing Fund will make available, through pooled funds, money for new homes and rehabilitation of older structures. Expenditures during 1984 amounted to $56 ,430 and revenues amounted to $56,430, leaving the fund balance at December 31 , 1984 at zero. HRA Fund The HRA Fund was established to account for the activity of the Fridley Housing and Redevelopment Authority. The main area of redevelopment is occuring in the area of the Fridley Civic Center. The Fridley HRA has established five tax increment areas that are financing the various projects. The Civic Center Area was once again the major site of construction during the past year. Dayton-Hudson chose the Civic Center Area to construct a three story office building to house its regional Target corporation headquarters. This will place the third major office type building in the Civic Center Area, increasing the vitality of a once blighted area. Other increment areas have also seen an increase of construction with various types of commercial activities. During 1984, expenditures and other financing uses were in excess of revenues "' by $203,019. leaving the fund balance at December 31 , 1984 at $718,086. DEBT SERVICE FUNDS Purpose The Debt Service Funds account for money devoted to the payment of interest and principal on long-term general obligation debt (other than Special Assessment Debt Service). The funds are used for the accumulation of monies for payment of general obligation bonds and interest thereon. Property taxes and proceeds from the tax increment areas provide the necessary revenue. During 1984, revenues amounted to $279,834, of which $29,307 was from property tax collections. The City has four general obligation issues outstanding which are carried in this fund. There is a $500,000 issue for the Civic Center dated May 1 , 1965. Three issues exist that pertain to the developing tax increment redevelopment 15 the Civic Center bond issue and $3,375,000 on the Tax Increment bond issues. The fund balance at December 31 , 1984 was $546,670. CAPITAL PROJECTS FUNDS Purpose — Capital Project Funds are used for acquisition and construction of capital facilities other than those financed by Special Assessments and Enterprise funds. Capital Improvement Fund This fund was established to account for the revenues and expenditures of a — revolving type Capital Improvement Fund. The City concluded that the current and future cost of replacing or repairing many of the large assets owned by the City is growing steadily. The monies set aside in this fund are to — finance future replacement of assets that are aging or have become obsolete. During 1984, the Capital Improvement Fund purchased $84,259 of capital outlay items that needed replacement to perform the governmental services provided by — the City. As of December 31 , 1984, the fund balance was $1,639,382. North Park Visitation Center Fund — This fund was created to account for the revenues and expenditures relating to the overall construction of a Wildlife Visitation Area. Construction was completed during 1984 and the facilities have had an overwhelming acceptance — by not only our community but by many neighboring communities. The facilities sponsor many wildlife exhibitions and also have special shows for children at various times of the year. — A transfer was made to the Capital Improvement Fund for the residual funds remaining and will be reserved for future improvements to the park. — Sears Fund This fund was set up to account for revenues and expenditures relating to the — purchase and development of park land formerly owned by Sears Roebuck. The objective of the City is to create a major outdoor athletic recreational facility. This facility will include six softball fields, four football _. fields and a central building that will house pressboxes, a first aid room and concession areas. The grounds will also have picnic areas and walking trails that tie into the rest of the City' s walkways. During 1984, $111 ,567 was — received from the State Lawcon Grant and $17,000 in donations. Expenditures and other financing uses totaled $119,965, leaving a fund balance at December 31 , 1984 of $3,005. The park is being financed by donations from civic organizations and private industry with additional commitments to be received — during 1985. 16 SPECIAL ASSESSMENT FUNDS Special Assessment Funds are used to finance and account for the construction and financing of certain public improvements such as street improvements, sidewalk improvements, storm sewers, and water and sewer lines which may be — paid wholly or in part from the special assessments levied against benefited property. The fact that the special assessments are paid for completely or in part by property owners in a limited geographical area who specifically benefit distinguishes them from improvements which benefit the entire community and which are paid for out of general revenue or through the issuance of general obligation bonds. -� The City employs the practice of self financing improvements during the construction period of projects. Permanent bonds are normally issued after the assessment rolls have been approved by the City Council and after the _ initial prepayments of assessments have been made by property owners. This practice allows the City to keep the number of permanent bonds issued by the City to a minimum. Construction in progress is shown in the General Fixed Asset Group of Accounts. Special Assessments Revolving Fund The purpose of this fund is to provide temporary financing for small improvement projects undertaken by the City. Special Assessments Fund The Special Assessments Fund is used to account for the collection of assessments against benefited property owners and the disbursement of assessment collections for the payment of bonds and interest thereon. It also handles the receipt of bond proceeds and the disbursement of the proceeds for construction work performed. The combined fund balances increased during 1984 by $1 ,155,868 bringing the fund balance at December 31 , 1984 to $3,771 ,687. ENTERPRISE FUNDS Purpose Enterprise Funds account for the financing of services to the general public — in which all or most of the costs involved are paid in the form of charges by the users of such services. In the City of Fridley, Enterprise Funds are used to account for the operation of the Public Utility System, and the municipal liquor stores. Except for ownership, Enterprise Funds bear a close resemblance to privately owned utility or service enterprises. Liquor Fund The Liquor Fund was established to account for the operation and financing of the City-owned municipal liquor stores. The City operates two liquor stores, one at 6289 Highway 65 and the other at 214 Mississippi Street. The City owns the store at the Highway 65 location and currently has a two year lease at the 17 other store. During 1984, the City changed its sales philosophy to the — wholesale approach so that we could remain competitive with three of the neighboring communities which use wholesale pricing. We are monitoring the sales of each store on a periodic basis so we can evaluate the effectiveness — of our pricing policy. Shown below is a summary of liquor store operations for the years 1984, 1983, --1982, 1981 and 1980. 1984 1983 1982 1981 1980 Sales $1 ,645,005 $1 ,618,204 $1 ,714,953 $1,743,846 $1,661,818 Gross profit 257,685 314,653 340,059 344,681 333,245 Net income before — transfers 15,201 102,385 168,603 192,975 171 ,285 Transfers to General Fund $ 120,000 $ 150,000 $ 100,000 $ 90,000 $ 85.000 _. Retained earnings of the Liquor Fund were $879,798 on December 31 , 1984, compared to $984,597 on December 31 , 1983. — Public Utility Fund This fund accounts for the operation and financing of the City-owned sewer and — water systems. In 1969, the fund assumed a $770,000 liability for bonds payable along with — future interest obligations of the Water No. 75 Improvement Bonds. A total principal amount of $170,000 for this bond issue was outstanding on December 31 , 1984. Although deferred tax levies were set forth in the resolution for retirement of the bonds and interest, it is the intention of the City to — cancel the tax levies annually for this bond issue and to provide the necessary revenue from the Public Utility Fund. The receivable from the Metropolitan Waste Control Commission of $349,059 represents the City's share of the equity in the Minneapolis Sewer System which was aquired by the Commission on January 1 , 1971 . This amount will be — paid to the City by means of issuing credit against future sewer billings from the Commission. These credits will be applied in annual installments with interest through 1999. The assets for the Water and Sewer distribution system, originally financed by special assessments, were transferred from General Fixed Assets to the Public Utility Fund in 1978. Additional Fixed Assets were transferred in 1979 and _ also this year. Those improvements to the utility system paid for or financed directly by the Public Utility Fund have always been carried in the Public Utility Fund and depreciated. _ Retained earnings on December 31 , 1984 were $6,192,475 compared to $5,434.816 on December 31 , 1983. Shown below is a summary of operations of the Public Utility Fund for the years 1984. 1983, 1982, 1981 and 1980. 18 1984 1983 1982 1981 1980 Operating revenue $2,401,206 $1,928,973 $1,753,918 $1 ,560,081 $1 ,477,709 Operating expenses 2,043,653 1 ,850,966 1 ,767,818 1 ,681 ,670 1,376,970 Operating incase (loss) $ 357,553 $ 78,007 $ (13,900)$ (121,589)$ 100,739 During 1984, the sewage disposal charge was in excess of the actual disposal costs. The Metropolitan Waste Control Commission has issued us a credit which is shown as a receivable and will be offset against customer billings during 1985. INTERNAL SERVICE FUNDS —. Purpose Internal Service Funds are set up to account for goods and services provided by designated departments on a cost reimbursement basis to other departments within a single governmental unit. Employee Benefits Fund This fund was set up to account for all fringe benefits in one central location. It is a tool that management now uses to evaluate the cost of employee benefits. Payments such as health insurance, life insurance, worker's compensation, FICA and PERA are paid from this fund and charged back to the proper departments. Amounts accumulated for annual leave are also carried in this fund. Annual leave as the City has defined it replaces the —' sick leave/vacation policy formerly used. This policy has the effect of defining the proper liability associated with annual leave and places a ceiling on it to keep the dilution of City assets to a minimum upon employee retirement. During 1984, operating revenues exceeded operating expenses by $248,621 resulting in a fund balance at December 31 , 1984 of $1 ,060,351 . Management Information Services Fund This fund was created to account for revenues and expenses associated with the operation of a computerized information system the City has placed into use. The City determined that an in-house computer was the solution to cost containment in the information processing area. We have embarked on the development of a comprehensive management information database that ties all _. City activities into one database. This system has the potential to render valuable information in seconds for _ the decisions that must now be made in a dynamic municipal background. All departments within the functional structure of our City Government are involved in the development of their related software. The money for the development of this project came from an advance from the Capital Project Fund. This advance is to be repaid with interest over a period of five years. The City is very proud of this decision and hopes to impact the information systems many of the cities in Minnesota will be acquiring. 19 During the year, the accounting system was installed, which included payroll, general ledger and the budgetary accounting modules. Testing was done during the last quarter of the year and modifications are being made based on that — testing. It is apparent that many efficiencies will be gained by the running of this in-house accounting package. The users of each module have had a chance to run sample data and to make suggestions on how to improve our system — even further. Revenues in the form of charges for services during 1984 amount to $136,718 — and the expenses were $136,233. The fund balance as of December 31 , 1984 is $30,584. TRUST AND AGENCY FUNDS Trust and Agency Funds account for assets held by the City as a trustee or — agent for individuals, private organizations and other governmental units. The Trust and Agency Fund maintained by the City is for the purpose of holding escrow deposits relating to industrial development revenue bond and mortgage issues. The fund balance as of December 31 , 1984 is $6,007. GENERAL FIXED ASSETS ACCOUNT GROUP Purpose — General Fixed Assets are those fixed assets of a governmental jurisdiction which are not accounted for in an Enterprise or Internal Service Fund. To be classified as a fixed asset in this category, a specific piece of property — must possess three attributes: 1) it must be tangible in nature; 2) it must have a life longer than the fiscal year; and 3) it must be of significant value. — GENERAL LONG TERN DEBT ACCOUNT GROUP — Purpose General obligation bonds and other forms of long-term debt supported by general revenues are obligations of a governmental unit as a whole and not its individual constituent funds. Moreover, the proceeds of such debt may be spent on facilities which are utilized in the operation of several funds. For — these reasons, the amount of unmatured long-term indebtedness which is backed by the full faith and credit of the City are accounted for and reported in a separate self-balancing group of accounts entitled "General Long Term Debt _ Account Group". The group includes (in addition to conventional term debt) general obligation bonds, time warrants and notes which have a maturity of more than one year from the date of issuance. The City retired $85,000 of principal of general obligation bonds during 1984. 20 PENSIONS Employees in the City of Fridley are covered by five pension plans: 1) Fridley Fire Relief Association for Volunteer Firemen. 2) Fridley Police Relief Association, for Police Officers hired prior to December 15, 1975. 3) Public Employees Retirement Police and Fire Plan, covering the City' s full-time Firemen and Police Officers hired after December 15, 1975. 4) The basic Public Employees Retirement Plan, which covers certain other City civilian employees. 5) Coordinated Public Employees Retirement Plan, which covers the balance of the City civilian employees. The employees covered by the Coordinated P.E.R.A. Plan are also covered by Social .., Security. The City is currently making all pension contributions required by law. For additional background information on the pension plans covering City employees, See Notes to the Financial Statements. INDEPENDENT AUDIT Section 7.13 of the City Charter requires an annual audit to be made of the books of account, financial records and transactions of all administrative departments of the City by a certified public accountant or the State Auditor's Department of the State of Minnesota. This requirement has been complied with and the opinion of the George M. Hansen Company P.A. , Certified Public Accountants is included in this report. CERTIFICATE OF CONFORMANCE The Governmental Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Conformance in Financial Reporting to the City of Fridley, Minnesota, for its comprehensive annual financial report for the fiscal year ended December 31 , 1983. In order to be awarded a Certificate of Conformance, a governmental unit must publish an easily readable and efficiently organized comprehensive annual financial report, which contents conform to program standards. Such reports must satisfy both generally accepted accounting principles and applicable legal requirements. A Certificate of Conformance is valid for a period of one year only. We believe our current report continues to conform to Certificate of Conformance Program requirements, and we are submitting it to GFOA to determine its eligibility for another certificate. 21 ACKNOWLEDGEMENTS The preparation of this report on a timely basis could not have been — accomplished without the efficient and dedicated services of the Finance and Central Services staff. A special thanks is extended to Noel Graczyk and Dawn Weigel for their services. We would also like to express our appreciation to the Mayor and members of the City Council for their interest and support in — planning and conducting the financial operations of the City in a responsible and progressive manner. Respectfully submitted, Sidney C. Inman Richard D. Pribyl Director of Central Services Finance Officer 22 _ Certificate of Conformance in Financial _ Reporting Presented to City of - Fridley, Minnesota For its Comprehensive Annual Financial Report for the Fiscal Year Ended December 31, 1983 A Certificate of Conformance in Financial Reporting is presented by the Government Finance Officers Association of the United States and Canada to governmental units and public employee retirement systems whose comprehensive annual financial reports (CAFR's) are judged to substantially conform to program standards. OFFic iU,I tD STATES 11. CAN= t.o 'resident I CORPORATION y>.90 Nicio ?�� TT • /fie r ' v Executive Director 23 FINANCIAL SECTION 0 AUDITOR'S OPINION G M I-I C o GEORGE M. HANSEN COMPANY, P.A. A Professional Corporation of Certified Public Accountants AUDITORS' OPINION NMI The City Council of Fridley, Minnesota — We have examined the combined financial statements of the City of Fridley, Minnesota as of and for the year ended December 31, 1984, as listed in the table of contents. Our examination was made in accordance with generally accepted auditing standards and, accordingly, included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances. In our opinion, the combined financial statements referred to above present fairly the financial position of the City of Fridley, Minnesota at December 31, 1984, and the results of its operations and the changes in financial position of its proprietary fund types for the year then ended, in conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding year. Our examination was made for the purpose of forming an opinion on the combined financial statements taken as a whole. The combining, individual fund, and account group financial statements and schedules listed in the table of contents are presented for purposes of additional analysis and are not a required part of the combined financial statements of the City of Fridley, Minnesota. The information has been subjected to the auditing procedures applied in the examination of the combined financial statements and, in our opinion, is fairly stated in all material respects in relation to the combined financial statements taken as a whole. Our examination did not include the statistical information listed in the table of contents. jole-01,il/ 2/7. 7iel/k/SZ-e//t\_ /f'g April 4, 1985 175 SOUTH PLAZA BUILDING WAYZATA BOULEVARD AT HIGHWAY 100 MINNEAPOLIS.MINNESOTA 55416 612/546-2566 25 COMBINED FINANCIAL STATEMENTS The combined statements are intended to provide an overview and broad perspective of the City's financial position and operations . These statements present a summary set of information needed to control and analyze current operations to determine compliance with legal and budgetary limitations and to assist in financial planning. The following combined statements are presented: Combined Balance Sheet - All Fund Types and Account Groups Combined Statement of Revenues, Expenditures, and Changes in Fund Balances - All Governmental Fund Types and Expendable Trust Funds Combined Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual - General and Special Revenue Fund Types Combined Statement of Revenues , Expenditures , and Changes in Retained Earnings - All Proprietary Fund Types Combined Statement of Changes in Financial Position - All Proprietary Fund Types • CITY OF FRIDLEY, MINNESOTA COMBINED BALANCE SHEET — ALL FUND TYPES AND ACCOUNT GROUPS December 31, 1984 "— Governmental Fund Types — Special Debt Capital Special General Revenue Service Projects Assessment Assets Cash $ $ 2,441 $ 188 $ 64.250 $ 256,954 — Investments 5.410,599 2,043,836 508,237 1 ,537,403 7,260,790 Receivables: Accounts 14,240 13,589 61,009 Taxes 154,466 7,204 2,310 — Special Assessments 17,351 4,505,628 Interest 528.685 8,684 Due from other funds 10,231 25,000 137,055 — Due from other governments 121 ,589 147,449 111 ,567 56,059 Advance to other funds 75,000 Inventories 15.361 --Prepaid expenditures/expenses 36,274 25,822 Long term receivable Restricted assets: Cash — Investments Property and equipment (Net of depreciation) — Amount available in debt service fund Amount to be provided for _ retirement of general long term debt Total assets $6,262,291 $2,226,230 $551,903 $1,815,530 $12,303,317 — (Continued) See Accompanying Notes to Financial Statements — 28 Exhibit A-1 Fiduciary Proprietary Fund Types Fund Types Account Groups Internal Trust and General General Long (Memorandum Only) Enterprise Service Agency Fixed Assets Tern Debt 1984 1983 $ 231 ,973 $ 54,896 $ $ $ $ 610,702 $ 2,165,608 4,109,478 1 ,054,634 20,437 21 ,945,414 18,050,103 476,922 565,760 603,618 163,980 146,326 4,522,979 4,117,720 _ 537,369 485,697 172,286 45,579 157,895 594,559 324,547 353,695 75,000 100,000 369,056 213,197 124,810 186,906 73,401 334,662 334,662 351 ,566 - 23,806 23,806 64,243 64,243 163,654 12,534,306 126,704 22,832,479 35,493,489 33,466,005 546,670 546,670 652,976 2,8.98,330 2,898,330 2,877,024 - #18,411,790 $1,236,234 #20,437 $22,832,479 $3,445,000 $69,105,211 $63,837,021 29 CITY OF FRIDLEY, MINNESOTA COMBINED BALANCE SHEET - ALL FUND TYPES AND ACCOUNT GROUPS (Continued) December 31, 1984 — Governmental Fund Types — Special Debt Capital Special General Revenue Service Projects Assessment Liabilities and Fund Equity Liabilities — Advance from city's general account $ 594,071 $ 54,357 $ $ 108,544 $ 23,806 — Accounts payable 58,865 1 ,663 62,713 3,737 Deposits payable 25,001 10,850 116,199 Contracts payable 26,974 Salaries payable 42,760 196 286 Leave payable Deferred revenue 142,884 5,233 1 ,886 4,505,628 Due to other funds 147,286 — Due to other governments 5,887 Advance from other fund Bonds payable _ 3,855,000 — Total liabilities 869,468 214,352 5,233 173,143 8,531,630 Fund Equity Contributed capital — Investment in general fixed assets Retained earnings - -- Reserved Unreserved Fund balance: — Reserved 284,032 546,670 75,000 4,249,196 Unreserved Designated 4,312,426 402,821 1 ,564,382 Undesignated 796,365 1 ,609,057 3,005. (477,509) Total retained earnings and fund balance 5,392,823 2,011,878 546,670 1,642,387 3,771,687 — Total fund equity 5,392,823 2,011,878 , 546,670 1,642,387 3,771,687 Total liabilities and fund equity $6,262,291 $2,226,230 $551,903 $1,815,530 $12,303,317. See Accompanying Notes to Financial Statements — 30 -' MINIM A-1 Continued Fiduciary Proprietary Fund Types Fund Types Account Groups Internal Trust and General General Long (Memorandum Only) _ Enterprise Service Agency Fixed Assets Term Debt 1984 1983 $ $ $ $ $ $ 780,778 $ 67,014 267,241 37,570 431 ,789 264,783 14,430 166,480 161,414 ._ 10,744 37,718 66,213 9,400 52,642 35,108 98,440 4,655,631 4,264,046 25,000 172,286 45,579 20,947 7,729 34,563 13,761 75,000 75,000 100,000 170,000 3,445,000 7,470,000 8,285,000 478,332 145,299 14,430 -0- 3,445,000 13,876,887 13,401,358 10,861,185 10,861,185 10,166,680 _. 22,832,479 22,832,479 21 ,394,000 1 ,117,861 1,117,861 889,300 7,072,273 (26,926) 7,045,347 6,376,285 5,154,898 3,793,182 6,279,629 3,877,775 6,007 1,936,925 3,938,441 7,072,273 1,090,935 6,007 -0- -0- 21,534,660 18,874,983 17,933,458 1,090,935 6,007 22,832,479 -0- 55,228,324 50,435,663 $18,411,790 *1,236,234 $20,437 $22,832,479 $3,445,000 $69,105,211 $63,837,021 31 CITY OF FRIDLEY, MINNESOTA — COMBINED STATEMENT OF REVENUES, EZPBNDITURES, AND CHANGES IH FUND BALANCES - ALL GOVERNMENTAL FUND TYPES AND EXPENDABLE TRUST FUNDS --Year Ended December 31, 1984 Governmental Fund Types — Special Debt General Revenue Service Revenues: Taxes and special assessments $2,516,884 $ 128,042 $ 206,494 Licenses and permits 359,605 51 ,449 — Intergovernmental revenue 2,795,766 584,225 6,541 Charges for services 145,394 Fines and forfeits 178,320 — Interest on investments 397,975 237,632 66,799 Miscellaneous 98,691 202,484 Total revenues 6,492,635 1,203,832 279,834 — Expenditures: Current General government 806,399 44,564 -- Public safety 2,201,155 Civic center 149,332 Public works 1 ,887,379 166,844 — Park and recreation 442,917 Capital projects Debt service 386,140 Capital outlay 491 ,518 112,014 Total expenditures 5,978,700 323,422 386,140 Excess (deficiency) of revenues over expenditures 513,935 880,410 (106,306) Other financing sources (uses) : Operating transfers in 460,152 Operating transfers out (311 ,883) (1 ,033,218) Total other financing sources (uses) 148,269 (1,033,218) -0- _ Excess (deficiency) of revenues and other financing sources over — expenditures and other financing uses 662,204 (152,808) (106,306) Fund balance January 1 4,730,619 2,164,686 652,976 — Fund balance December 31 $5,392,823 $ 2,011,878 $ 546,670. See Accompanying Notes to Financial Statements — 32 Exhibit A-2 _ Fiduciary Fund Type Totals Capital Special Trust and (Memorandum Only) Projects Assessments Agency 1984 1983 $ 36,051 $1,182,108 $ $ 4,069,579 $ 3,552,876 411 ,054 320,964 119,341 64,549 3,570,422 3,145,321 145,394 131 ,018 178,320 197,766 150,467 862,158 3,725 1 ,718,756 1,453,007 17,160 35,800 354,135 564,135 323,019 2,144,615 3,725 10,447,660 9,365,087 850,963 796,799 2,201,155 2,148,834 149,332 156,708 2,054,223 1 ,881 ,666 442,917 442,703 143,316 1 ,429,431 1 ,572,747 1 ,269,166 449,589 835,729 773,998 84,259 687,791 451 ,584 227,575 1,879,020 -0- 8,794,857 7,921,458 95,444 265,595 3,725 1,652.803 1.443,629 234,045 914,079 1 ,608,276 1 ,246,906 (130,118) (23,806) (1,499,025) (1,109,968) 103,927 890,273 -0- 109.251 136.938 199,371 1,155,868 3,725 1,762,054 1,580,567 1,443,016 2,615,819 , 2,282 11,609,398 10,028,831 $1,642,387 $3,771,687 $6,007 $13,371,452 $11,609,398 33 CITY OF FRIDLEY, MINNESOTA COMBINED STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL GENERAL AND SPECIAL REVENUE FUND TYPES Year Ended December 31, 1984 General Fund Variance Favorable - Budget Actual (Unfavorable) Revenues: - Taxes and special assessments $ 2,491 ,571 $2,516,884 $ 25,313 Licenses and permits 240,662 359,605 118,943 Intergovernmental revenue 2,517,427 2,795,766 278,339 - Charges for services 141 ,000 145,394 4,394 Fines and forfeits 112,350 178,320 65,970 Interest on investments 260,000 397,975 137,975 Miscellaneous 42,000 98,691 56,691 -- Taal revenues 5,805,010 6,492,635 687,625 Expenditures: Current General government 902,057 806,399 95,658 Public safety 2,288,368 2,201,155 87,213 - Civic center 152,317 149,332 2,985 Public works 2,129,226 1 ,887,379 241 ,847 Park and recreation 528,035 442,917 85,118 - Reserve for contingency 330,448 330,448 Capital outlay 587,857 491 ,518 96,339 Total expenditures 6,918,308 _ 5,978,700 939,608 Excess (deficiency) of revenues over expenditures (1,113,298) 513,935 1,627,233 Other financing sources (uses) : Operating transfers in 447,000 460,152 13,152 Operating transfers out (312,183) (311,883) 300 - Total other financing sources (uses) 134,817 148,269 13,452 Excess (deficiency) of revenues _. and other financing sources over expenditures and other financing uses (978,481) 662,204 1,640,685 Fund balance January 1 4,730,619 4,730,619. _ Fund balance December 31 $ 3,752,138 $5,392,823 $1,640,685 - See Accompanying Notes to Financial Statements - 34 ExMbit A-3 Totals Special Revenue Fund Types (Memorandum Only) Variance Variance Favorable Favorable Budget Actual (Unfavorable) Budget Actual (Unfavorable) $ 120,000 $ 128,042 $ 8,042 $ 2,611,571 $ 2,644,926 $ 33,355 50,000 51 ,449 1 ,449 290,662 411 ,054 120,392 552,486 584,225 31 ,739 3,069,913 3,379,991 310,078 141 ,000 145,394 4,394 112,350 178,320 65,970 198,100 237,632 39,532 458,100 635,607 177,507 200,000 202,484 2,484 242,000 301,175 59,175 1,120,586 1,203,832 83,246 6,925,596 7,696,467 770.871 50,251 44,564 5,687 952,308 850,963 101,345 2,288,368 2,201,155 87,213 152,317 149,332 2,985 167,000 166,844 156 2,296,226 2,054,223 242,003 528,035 442,917 85,118 330,448 330,448 116,799 112,014 4,785 704,656 603,532 101 ,124 334,050 323,422 10,628 7,252,358 6,302,122 950,236 786,536 880,410 93,874 (326.762) 1,394,345 1,721,107 447,000 460,152 13,152 (1,130,586) (1,033,218) 97,368 (1,442,769) (1 ,345,101) 97,668 (1,130,586) (1,033,218) 97,368 (995,769) (884,949) 110,820 (344,050) (152,808) 191,242 (1,322,531) 509,396 1,831,927 2,164,686 2,164,686 6,895,305 6,895,305 _ $ 1,820,636 $ 2,011,878 $191,242 $ 5,572,774 $ 7,404,701 $1,831,927 35 Exhibit A-4 CITY OF FRIDLEY, MINNESOTA COMBINED STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS - ALL PROPRIETARY FUND TYPES - Year Ended December 31, 1984 Proprietary Fund Types Totals Internal (Memorandum Only) - Enterprise Service 1984 1983 Sales and cost of sales: -" Sales $1 ,645,005 $1 ,645,005 $1 ,618,204 Cost of sales 1 ,387,320 1 ,387,320 1 ,303,551 Gross profit 257,685 -0- 257,685 314,653 - Operating revenues: Water sales and sewer rents 2,060,966 2,060,966 1 ,837,000 _ Other 340,240 340,240 91 ,973 Charges for services 993,377 993,377 914.959 Total operating revenues 2,401,206 993,377 3,394,583 2,843,932 _ Operating expenses: Personal services 670,845 586 671 ,431 677,973 Supplies and other charges 1 ,386,525 798,298 2,184,823 1 ,915,993 - Depreciation 306,604 23,205 329,809 108,404 Total operating expenses 2,363,974 822,089 3,186,063 2,702,370 Operating income 294,917 171,288 466,205 456,215 Nonoperating revenues (expenses) : - Intergovernmental revenue 2,250 2,250 3,090 Interest on investments 454,084 77,818 531 ,902 448,308 Debt service (6,907) (8,750) (15,657) (8,659) Other 17,767 4,407 22,174 56,446 -' Total nonoperating revenues 467,194 73,475 540,669 499,185_ Income before operating transfers 762,111 244,763 1,006,874 955,400 -- Operating transfers in 23,806 23,806 13,062 Operating transfers out (133,057) (133,057) (150,000}- Total operating transfers (109,251) -0- (109,251) (136,938) Net income 652,860 244,763 897,623 818,462 Retained earnings January 1 6,419,413 846,172 7,265,585 6,447,123 Retained earnings December 31 $7,072,273 $1,090,935 $8,163,208 $7,265,585 See Accompanying Notes to Financial Statements 36 Exhibit A-5 CITY OF FRIDLEY, MINNESOTA COMBINED STATEMENT OF CHANGES IN FINANCIAL POSITION - ALL PROPRIETARY FUND TYPES Year Ended December 31, 1984 Proprietary Fund Types Totals Internal (Memorandum Only) Enterprise Service 1984 1983 Sources of working capital: Operations: Net income for the year $ 652,860 $244,763 $ 897,623 $ 818,462 Items not requiring working capital-depreciation 306,604 23,205 329,809 108,404 Working capital provided by operations 959,464 267,968 1,227,432 926,866 Advance due to other funds 100,000 Contributions from property owners 694,505 694,505 Decrease in long term receivable 16,904 16,904 16,207 Net decrease in restricted assets 75,605. 75,605 24,414 Total sources of working capital 1,746,478 267,968 , 2,014,446 1,067,487 - Uses of working capital: Acquisition of property and equipment 842,264 76,550 918,814 284,448 Decrease in long term bonds payable 50,000 50,000 50,000 Decrease in long term advance from Capital Improvement Fund 25,000 25,000 Total uses of working capital 892,264 101,550 993,814 334,448 Increase in working capital $ 854,214 $166,418 $1,020,632 $ 733,039 Elements of increase (decrease) in working capital: Cash $ (220,050) $(82,734) $ (302,784) $ 75,598 Investments 1 ,013,008 160,525 1 ,173,533 385,986 Accounts receivable (61,662) (61,662) 144,173 Due from other governments 86,026 86,026 58,558 Inventories 158,406 158,406 (11,000) Prepaid expenses 51 ,409 51 ,409 (3,508) Accounts payable (149,182) 2,085 (147,097) (38,250) Contracts payable (10,744) (10,744) Salaries payable (1 ,018) (1 ,018) (2,082) Leave payable 90,058 90,058 82,039 Due to other funds (24,150) Due to other governments (11,979) (3,516) (15,495) 65,675 Increase in working capital $ 854,214 $166,418 $1,020,632 $ 733,039 See Accompanying Notes to Financial Statements 37 CITY OF FRIDLEY, MINNESOTA NOTES TO FINANCIAL STATEMENTS — DR 31,_ 1984 1. Summary of Significant Accounting Principles The City of Fridley was incorporated July 1 , 1949, under Chapter 410.03 of the — Statutes of the State of Minnesota providing for a council-manager form of government under the "Home Rule Charter City" concept. The City provides the following services as authorized by its charter: general administrative services, public safety (police and fire) , public improvements, planning and — zoning, and culture and recreation. The accounting policies of the City of Fridley conform to generally accepted — accounting principles applicable to governmental units. The following is a summary of the more significant policies: A. Principles used in the determination of the scope of the Governmental entity For the year ended December 31 , 1984, the City has implemented National Council on Governmental Accounting Statement 3, Defining the Governmental -- Reporting Entity. In accordance with Statement 3, for financial reporting purposes the City's financial statements include all funds, account groups, departments, agencies, boards, commissions and other organizations over which City officials exercise oversight responsibility. Oversight responsibility includes such aspects as appointment of governing — body members, budget approval, approval of property tax levies, outstanding debt secured by City full faith and credit or revenues, responsibility for funding deficits and others. As a result of applying the criteria of Statement 3 , the following organizations have been excluded from the City' s financial statements as follows: — Police and Fire Relief Associations - these associations are organized as non-profit organizations by their members to provide pension and other benefits to such members in accordance with Minnesota Statutes. Their — boards of directors are appointed by the membership. All funding is conducted in accordance with Minnesota Statutes, whereby state aids flow to the associations, tax levies are determined by the associations and are only — reviewed by the City. The associations pay benefits directly to their members. (See Note 7 for disclosures relating to the pension plans operated by the associations. ) — B. Fund Accounting The accounts of the City are organized on the basis of funds and account -' groups, each of which is considered a separate accounting entity. The operations of each fund are accounted for with a separate set of self-balancing accounts that comprise its assets, liabilities, fund equity, — 38 CITY OF FRIDLEY, MINNESOTA NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECE1 ER 31_, 1984 1. Summary of Significant Accounting Principles (Continued) B. Fund Accounting (Continued) revenues and expenditures, or expenses, as appropriate. Government resources are allocated to and accounted for in individual funds based upon the purposes .- for which they are to be spent and the means by which spending activities are controlled. The various funds are grouped, in the financial statements in this report, into eight generic fund types and three broad categories as follows: GOVERNMENTAL FONDS Governmental funds include the general fund, special revenue funds, debt service funds, capital projects funds and special assessment funds. The governmental fund measurement focus is based upon the determination of financial position and changes in financial position (sources, uses and _ balances of financial resources rather than upon net income determination) . Those funds are maintained on the modified accrual basis of accounting (explained further under Significant Accounting Policies). General Fund - The General Fund is the primary operating fund of the City. It is used to account for all financial resources except those required to be accounted for in another fund. Special Revenue Funds - Special Revenue Funds are used to account for the proceeds of certain specific revenue sources that are legally restricted to expenditures for specified purposes. Debt Service Funds - Debt Service Funds are used to account for the accumulation of resources for, and the payment of, general long-term debt '— principal, interest, and related costs. Capital Projects Funds - Capital Projects Funds are used for the acquisition or construction of major capital facilities other than those financed by proprietary funds or special assessment funds. Special Assessment Funds - Special Assessment Funds are used to account for the financing of public improvements or services deemed to benefit the properties against which special assessments are levied. PROPRIETARY FUNDS Proprietary funds include enterprise funds and internal service funds. The _. proprietary fund measurement focus is based upon the determination of net income, financial position and changes in financial position. The generally accepted accounting principles here are those applicable to similar businesses in the private sector and thus these funds are maintained on the accrual basis of accounting. 39 CITY OF FRIDLEY, MINNESOTA NOTES TO FINANCIAL STATEMENTS (CONT1mUED) - DECBMBER 31, 1984 1. Summary of Significant Accounting Principles (Continued) B. Fund Accounting (Continued) — PROPRIETARY FUNDS (Continued) Enterprise Funds - Enterprise Funds are used to account for operations that — are financed and operated in a manner similar to private business enterprises - where the intent is that the costs (expenses, including depreciation) of providing goods or services to the general public on a — continuing basis be financed or recovered primarily through use charges. Internal Service Funds - Internal Service Funds are used to account for the financing of goods or services provided by one department to other '- departments of the City on a cost-reimbursement basis. FIDUCIARY FUNDS — Fiduciary funds include expendable trust funds. The measurement focus of the expendable trust funds is the same as governmental funds and are therefore maintained on the modified accrual basis of accounting. Trust Funds - Trust Funds are used to account for assets held by the City in a trustee capacity or as an agent for individuals, private organizations, — other governments, and/or other funds. The City' s Trust Funds are classified as Expendable Trust Funds and are accounted for in essentially the same manner as governmental funds. — C. Measurement Focus The accounting and reporting treatment applied to a fund is determined by — its measurement focus. All Governmental Funds and Expendable Trust Funds are accounted for on a spending or "financial flow" measurement focus. This means that only current assets and current liabilities are generally — included on their balance sheets. Their reported fund balance is considered a measure of "available spendable resources. " Governmental fund operating statements present increases (revenues and other financing sources) and — decreases (expenditures and other financing uses) in net current assets. Accordingly. they are said to present a summary of sources and uses of "available spendable resources" during a period. — Fixed assets used in governmental fund type operations (general fixed assets) are recorded at historical costs and accounted for in the General Fixed Assets Account Group. Public domain ("infrastructure") general fixed -- assets consisting of roads, bridges, curbs and gutters, are capitalized along with other general fixed assets. No depreciation has been provided on general fixed assets. — 40 CITY OF FRIDLEY, MINNESOTA NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 1984 '- 1. Summary of Significant Accounting Principles (Continued) C. Measurement Focus (Continued) Long-term liabilities expected to be financed from governmental funds are accounted for in the General Long-Term Debt Account Group, not in the -. governmental funds. The single exception to the general rule is for special assessment bonds, which are accounted for in Special Assessment Funds. The two account groups are not "funds." They are concerned only with the measurement of financial position. They are not involved with measurement of results of operations. .- Noncurrent portions of long-term receivables due to governmental funds are reported on their balance sheets, in spite of their measurement focus. However, special reporting treatments are used to indicate in all governmental funds that they should not be considered "available spendable resources," since they do not represent net current assets. Recognition of revenues in these funds represented by noncurrent receivables are deferred until they become current receivables. Because of their spending measurement focus, expenditure recognition for governmental fund types excludes amounts represented by noncurrent ._ liabilities, except special assessment funds. Proprietary funds are accounted for on a cost of services or "capital maintenance" measurement focus. This means that all assets, including fixed a assets, and all liabilities, including long-term liabilities, associated with their activity are included on their balance sheets. Their reported fund equity is segregated into contributed capital and retained earnings components. Proprietary fund type operating statements present increases (revenues) and decreases (expenses) in net total assets. D. Basis of Accounting Basis of accounting refers to when revenues and expenditures or expenses are recognized in the accounts and reported in the financial statements. Basis of accounting relates to the timing of the measurements made, regardless of the measurement focus applied. Governmental Funds and Expendable Trust Funds are accounted for using the modified accrual basis of accounting. Their revenues are recognized when they become susceptible to accrual, i. e. , both measurable and available. _ Substantially all revenues are accrued except interest on special assessments receivable, which is recognized when due. Expenditures are generally recognized under the modified accrual basis of accounting when the related fund liability is incurred, except for principal and interest on general long-term debt which is recognized when due. 41 CITT OF FRIDLEZ2 MINNESOTA NOTES TO FINANCIAL STATEMENTS (CONTINUED). • DECEMBER 31, 1984 1. Summary of Significant Accounting Principles (Continued) D. Basis of Accounting (Continued) Proprietary funds are accounted for using the accrual basis of accounting. Revenues are recognized when they are earned, and expenses are recognized when they are incurred. Unbilled water and sewer fund utility service — receivables are recorded at year end. E. Budgets and Budgetary Accounting — The City follows these procedures in establishing the budgetary data reflected in the financial statements: 1. The City Manager submits to the City Council a proposed operating budget for the fiscal year commencing the following January 1 . The operating budget includes expenditures and the means of financing them. — 2. Public hearings are conducted to obtain taxpayer comments. 3. The budget is legally enacted through passage of a resolution. — 4. The City Council may authorize transfer of budgeted amounts between departments within any fund. — 5. Supplemental appropriations may be made during the year by the City Council. These amounts must be financed by funds from the contingency reserve set up in the general fund or by additional revenues. 6. All budget amounts lapse at the end of the year to the extent they have not been expended or encumbered. 7. Formal budgetary integration is employed as a management control device during the year for the General Fund and Special Revenue Funds. Formal ._ budgetary integration is not employed for Debt Service Funds because effective budgetary control is alternatively achieved through general obligation bond indenture provisions. Budgetary control for Capital Projects and Special Assessment Funds is accomplished through the use of project controls. 8. Budgets for the General and Special Revenue Funds are adopted on a basis -- consistent with generally accepted accounting principles (GAAP). 9. Budgetary control is maintained at the expenditure category level within • ■ each division. Budgetary control, by departments or divisions, and by category is required by the City Charter. 10. The General Fund budget includes prior year encumbrances which were — expended during the year. 42 CITY OF FRI LEY, MINNESOTA NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 1984 1. Summary of Significant Accounting Principles (Continued) F. Assets, Liabilities and Fund Equity 1) Cash and Investments Cash balances from all funds are combined and invested to the extent available in certificates of deposit, U.S. government securities and other securities authorized by state statute. Earnings from such investments are allocated to the respective funds on the basis of applicable cash balance participation by each fund. Investments are stated at cost which approximates market. Investments are adjusted to market value only when a permanent decline in market value has occurred ,. or when such investments will not be carried to maturity. The City provides temporary advances to funds that have insufficient _ cash balances by means of an advance from the general account. This is classified as a liability to the fund until adequate resources are received. 2) Receivables Property Taxes Property tax levies are set by the City Council in October each year and are certified to the County for collection the following year. In Minnesota, counties act as collection agents for all property taxes. The County spreads the levies over all taxable property in the City. Such taxes become receivables of the City as of January 1 . Property taxes are payable in equal installments by property owners to the County as follows: Personal property - February 28 and June 30 Real property - May 15 and October 15 The County remits the collections to the City and other taxing districts four times a year. on or before February 21 , April 19. July 5 and December 4. Unpaid taxes at December 31 become liens on the respective property and are classified in the financial statements as delinquent taxes _ receivable. The receivable is fully offset by deferred revenue as they are not available to finance current expenditures. 43 CITY OF FRIDLEY, MINNESOTA NOTES TO FINANCIAL STATEMENTS (CONTIIuND) DECEMBER 31, 198 1. Su�nary of Significant Accounting Principles (Continued) — F. Assets, Liabilities and Fund Equity (Continued) 2) Receivables (Continued) Property Taxes (Continued) — Cities in Minnesota operate under a levy limitation law which allows an increase in the tax levy each year equal to the Implicit Price Deflator increase or 5%, whichever is greater. further indexed by the percentage increase in household or population, whichever is greater. Levies for bonded indebtedness are not limited by the law. Taxes payable on homestead property (as defined by State Statutes) are partially reduced by a homestead credit. This credit is paid to the City by the State in lieu of taxes levied against homestead property. — The State remits this credit in six equal installments in July through December each year. Special Assessments Receivable — Special assessments are levied against the benefited properties for the assessable costs of special assessment improvement projects in _ accordance with State Statutes. The City usually adopts the assessment rolls when the individual projects are complete or substantially complete. The assessments are collectible over a term of years _ generally consistent with the term of years of the related bond issue. Collection of annual installments (including interest) is handled by the County in the same manner as property taxes. Property owners are -- allowed to prepay total future installments without interest or prepayment penalties. Special assessments receivable includes the following components: Onremitted - amounts collected by Anoka County and not remitted to the City. Delinquent - amounts billed to property owners but not paid. Deferred - assessment installments which will be billed to property owners in future years. 3) Inventory F.I.F.O. based inventory is valued at the lower of cost or market based on perpetual inventory systems. 44 CITY OF FRIDLEY, MINNESOTA NOTES TO FINANCIAL STATEMENTS (CONTINUED) '— DECEMBER 31, 1984 1. Summary of Significant Accounting Principles (Continued) F. Assets, Liabilities and Fund Equity (Continued) 3) Inventory (Continued) Inventory in the General Fund consists of expendable supplies held for consumption. The cost is recorded as an expenditure at the time individual inventory items are purchased. Reported inventories are equally offset by a fund balance reserve which indicates that they do not constitute "available spendable resources" even though they are a component of net current assets. - Proprietary Funds expense inventory items when items are either used or sold. 4) Property and Equipment/General Fixed Assets NEM All assets are recorded at historical cost or estimated historical cost, if the original cost is not available. Donated assets are stated at the fair market value on the date donated. Additions to fixed assets for general City purposes, including public — domain (infrastructure) fixed assets are recorded as an expenditure of the applicable fund in the year in which the asset is purchased or constructed, and are capitalized in the General Fixed Asset Account Group. Depreciation is not recorded on these assets. IMMR Property and equipment of the proprietary funds are capitalized in these funds. Depreciation of all exhaustible property and equipment of the proprietary funds is charged as an expense against their operations and accumulated depreciation is reported on proprietary fund balance sheets. Depreciation has been provided over the estimated useful lives using the straight line method. The estimated useful lives are as follows: Land Improvements 20 - 50 years Buildings 20 - 50 years — Office Equipment 5 - 10 years Machinery and Equipment 5 - 10 years Other Improvements 20 years Capital leases are recorded as assets in either the proprietary funds or in the general fixed asset account group, as appropriate. 5) Annual Leave The Employee Benefits Internal Service Fund reflects the City' s accrued liabilities for annual leave and other benefits for all City employees. The personnel ordinance limits the annual accumulation of benefits that 45 CITY OF FRIDLEY, MINNESOTA NOTES TO FINANCIAL STATEMENTS (CONTINUED) — DECEMBER 31, 1984 1. Summary of Significant Accounting Principles (Continued) F. Assets, Liabilities and Fund Equity (Continued) 5) Annual Leave (Continued) can be accumulated from year to year. That liability is stated in the — Employee Benefits Fund and represents the maximum possible dilution of fund assets by retirements or extended approved leaves by employees. 6) Encumbrances Encumbrances represent purchase commitments. Encumbrances outstanding at year end are reported as reservations of fund balance since they do — not constitute expenditures or liabilities. G. Revenues, Expenditures and Expenses — The following transactions are accounted for as described below: General Property Taxes - Revenue is recognized in the year of anticipated — collection, with amounts due from the County and received early in the following year set up as receivable (current taxes receivable) . Taxes and Special Assessments receivable are fully offset by deferred revenue as they — are not available to finance current expenditures. This has the full effect of recognizing general property taxes as revenue when cash is received because of the unavailability of the delinquent collections. — Principal Portion of Special Assessments - Revenue is recognized in the year the assessment roll is collected. Interest Revenue on Special Assessments Receivable - Interest revenue is recognized in the year of collection of the current principal installment. Intergovernmental Revenues - Intergovernmental revenues in the form of state aids are recorded as revenue annually when allocations are made by statutory formula. Entitlements for General Revenue Sharing are recorded as revenue _-for the period of the allocation. Other intergovernmental revenues received as reimbursements for specific purposes or projects are recognized based upon the expenditures recorded. Intergovernmental revenues received through abatements or shares are recorded in the year determined to be measurable — and available such as in the State Aid Fund and the Revenue Sharing Fund. Interest on Investments - Interest is recorded as revenue in the year when — earned. Other Revenues - Licenses, fines, penalties and miscellaneous revenues are recorded as revenues when received in cash because they are generally not — measurable until actually received. 46 CITY OF FRIDLEY, MINNESOTA NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 1984 '- 1. Summary of Significant Accounting Principles (Continued). G. Revenues, Expenditures and Expenses (Continued) Unbilled Sewer and Water Fund Utility Service Receivables - Unbilled sewer and water fund utility service receivables are accrued at year end. Interest Expense on Bonded Indebtedness - Interest expense is recorded as an expenditure when paid in the governmental type fund types and accrued when incurred in the proprietary fund types. Bond and Interest Payments Due January 1 - Expenditures are recognized when amounts are remitted to the paying agent (usually in December) for payment of bonds and interest. B. Comparative Data Comparative total data for the prior year has been presented in the accompanying combined financial statements in order to provide an understanding of changes in the City's financial position and operations. However, comparative (i.e., presentation of prior year totals by fund type) data have not been presented in all statements since their inclusion would make the statements unduly complex and difficult to read. I. Total Columns on Combined Statements Total columns on the combined statements are captioned "Memorandum Only" to 'mI indicate that they are presented only to facilitate financial analysis. Data in these columns do not present financial position, results of operations, or changes in financial position in conformity with generally accepted accounting priniciples. Interfund eliminations have not been made in the aggregation of this data. Certain 1983 amounts have been reclassified to conform to the 1984 presentation. 2. Special Assessments Receivable Special assessments receivable at December 31 , 1984 are as follows: Special General Assessments Total Deferred $ 9,406 $4,141 ,622 $4,151 ,028 Delinquent 7,945 364,006 371 ,951 Total $17,351 $4,505,628 $4,522,979 47 CITY OF FRIDLEY, MINNESOTA NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 314 1984 -- 3. Due From Other Governments General Fund: State of Minnesota a) Section 8 Housing $ 8,283 b) Land and Water Conservation 53,750 _ Anoka County a) Fines and Forfeits 35,342 b) Community Development Block Grant 24,214 _ $121,589 Special Revenue Funds: — State of Minnesota, Construction Money Expended in 1984 $ 91 ,239 Federal Government, Revenue Sharing 56,210 — $147,449 Capital Projects Funds: '- State of Minnesota, LAWCON Expenditures from 1983 and 1984 $111,567 — Special Assessment Funds: State of Minnesota, Water Reclaimation Money Expended in 1984 $56,059 Enterprise Funds - Public Utilities Fund: Metropolitan Waste Control Commission (MWCC) _ Excess amount from annual billing $143,498 Current portion of advance to MWCC 14,397 Total current portion 157,895 Non-current portion of advance to MWCC 334,662 48 CITY OF FRIDLEY, MINNESOTA NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 1984 -� 3. Due From Other Governments (Continued) The non-current receivable in the Public Utilities Enterprise Fund represents: 1. The balance for the City's share of equity in the City's sewer interceptors is $299.800 (the interceptors were sold to the Metropolitan Waste Control _ Commission January 1 , 1971). This receivable will be paid to the City in annual installments with interest through 1999. Repayment will be made by issuing credits against future disposal charges from the Commission. 2. The amount of $34,862, which will be repaid with interest through 1998, is for advances made to the Commission during 1971 and 1972. 4. Changes in General Fixed Assets A summary of changes in general fixed assets are as follows: Balance Balance Jan 1, 1984 Additions Deletions Dec 31, 1984 Land $ 1 ,516,153 $ 116,054 $ $ 1 ,632.207 Buildings 1 ,642,995 124,686 1 ,309 1 ,766,372 �- Improvements other than buildings 14,623,475 2,151 ,709 538.496 16,236,688 Machinery and equipment 1 ,838,596 327,599 102,030 2,064.165 Construction in progress 1 ,772,781 1 ,645,628 2,285.362 1 ,133,047_ Total $21,394,000 $4,365,676 $2,927,197 $22,832,479 Construction in progress is composed of the following: Improvements $1,133,047 49 CITY OF FRIDLEY, MINNESOTA NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECKER 31, 1984 -- 5. Summary of Proprietary Fund Property and Equipment — A summary of proprietary fund type property, plant and equipment at December 31 , 1984 follows: — Enterprise Public Internal _ Liquor Utilities Total Service Land $ 66,961 $ 154,881 $ 221 ,842 $ Buildings 166,612 824,078 990,690 — Improvements other than buildings 1 ,469 233,827 235,296 Machinery and equipment 190,531 2,075,428 2,265,959 155,467 — Water and sewer lines _ 10,861,185 10,861,185 425,573 14,149,399 14,574,972 155,467 Less: — Accumulated depreciation (109,701) (1 ,930,965) (2,040,666) (28,763) Net property and equipment $315,872 $12,218,434 $12,534,306 $126,704 — 6. Changes in Long-Term Debt — The following is a summary of long-term debt transactions for the City of the year ended December 31 , 1984: — Special General Assessment Enterprise Long-Term Funds Funds Debt Total — Bonds payable at January 1 , 1984 $4,535,000 $220,000 $3,530,000 $8,285,000 — Bonds retired (680,000) (50,000) (85,000) (815,000) Bonds payable — at December 31, 1984 $3,855,000 $170,000 $3,445,000 $7,470,000 50 CITY OF FRIDLET, MINNESOTA NOTES TO FINANCIAL STATEMENTS (CONTINUED) '- DECKER 31, 1984 "- 6. Changes in Long-Term Debt (Continued) Bonds payable at December 31 , 1984 are comprised of the following individual issues (in thousands of dollars): Special Assesnent Funds: — $715,000 Improvement Bonds of 1965 due in annual installments of $25,000 through February 1 , 1985 and $20,000 on the final maturity date, February 1 , 1986 interest at 3.20% - 3.50% 45 $1 ,830,000 Improvement Bonds of 1967 due in varying annual installments of $20,000 - $40,000 through Janaury 1 , 1988 ; interest at 4.20% - 4.50% 80 $2,135,000 G.O. Special Assessment Bonds of 1972 due in varying annual installments of $50,000 - $150,000 through January 1 , 1994; interest at 3.80% - 5.30% 525 $1 ,220,000 Refunding Bonds of 1967 due in varying annual installments of $10,000 - $95,000 through January 1 , 1989 ; interest at 6.00% 145 $1 ,550,000 Special Assessment Bonds of 1976 due in varying .,. annual installments of $25,000 - $175,000 through February 1 , 1990; interest at 3.75% - 6.00% 200 $1 ,115,000 Special Assessment Bonds of 1977 due in varying annual installments of $50,000 - $115,000 through February 1 , 1989; interest at 3.10% - 4.90% 435 $1 ,755,000 Special Assessment Bonds of 1980 due in varying annual installments of $25,000 - $155,000 through February 1 , 2001 ; interest at 7.25% - 8.50% 1 ,300 $1 ,425,000 Special Assessment Bonds of 1982 due in varying annual installments of $15,000 - $175,000 through February 1 , 1999; interest at 8.50% - 10.70% 1 ,125 '- 3,855 Enterprise Fund: $780,000 General Obligation (G.O.) Water Revenue Bonds of 1965 due in annual installments of $50,000 through February 1 , 1987 and $20,000 on the final maturity date, February 1 , 1988 ; — interest at 3.20% - 3.50% 170 51 CITY OF FRIDLEY, MINNESOTA NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 1984 - 6. Changes in Long-Term Debt (Continued) - General Long-Term Debt: $500,000 Civic Center Bonds of 1965 due in annual installments - of $35,000 through February 1 , 1986; interest at 3.50% 70 $2,200,000 General Obligation Tax Increment Redevelopment Bonds of 1981 due in varying annual installments of $50,000 - $250,000 - through February 1 , 1999; interest at 7.10% - 9.00% 2,150 $625,000 General Obligation Tax Increment Redevelopment Bonds of - 1982 due in varying annual installments of $5,000 - $85,000 through February 1 , 1999; interest at 8.50% - 10.70% 625 $600,000 General Obligation Tax Increment Redevelopment Bonds of 1982 due in varying annual installments of $5,000 - $100,000 through February 1 , 1999; interest at 6.50% - 9.75% 600 3,4 .5 - The annual requirements to amortize all debt outstanding as of December 31 , 1984, including interest payments of $4,269,817, are as follows: - Annual Requirements to Amortize Long-Term Debt December 31 , 1984 - Special Year Ending Assessment Enterprise Civic Center Redevelopment _ December 31 Fund Fund Bonds Fund Total 1985 867,225 55,075 36,837 377,851 1 ,336,988 1986 800,864 53,325 35,613 371 ,648 1 ,261,450 - 1987 739,468 51 ,575 370,175 1 ,161 ,218 1988 550,205 20,350 397,023 967,578 1989 535,688 401,778 937,466 -- 1990 - 1994 1 ,331 ,314 2,144,986 3,476,300 1995 - 1999 304,205 2,240,424 2,544,629 2000 - 2001 54,188 54,188 $5,183,157 $180,325 $72,450 $6,303,885 $11,739,817 $546,670 is available in the Debt Service Fund to service the General Obligation Bonds. The General Obligation Tax Increment Financing Bonds are payable by the money - generated from the Tax Increment District within the City. There are a number of limitations and restrictions contained in the various bond indentures. The City is in compliance with all significant limitations and restrictions. 52 CITY OF FRIDLEY, MINNESOTA NOTES TO FINANCIAL STATEMENTS (CONTINUED) DE(3NIER 31, 1984 6. Changes in Long-Term Debt (Continued) Legal Debt Margin - Under applicable State Statutes, the legal debt margin is 6.667% of the most recent assessed valuation less certain deductions. At December 31 , 1984, the legal debt margin was $15,586,253. ._ 7. Retirement Plans The City is involved with four pension plans, and other agencies are responsible for the administration of each plan. The City is making all pension contributions as required by law. Fridley Police Relief Association and Fridley Fire Relief Association - These Associations are independent entities that administer pension plans for 16 and 31 members respectively. The City levies taxes for pension contributions to the Associations when necessary in accordance with State Statutes. The pension levies satisfy the Police Relief Association Guidelines Act, which requires that NMI contributions cover normal cost, interest at five (5%) percent on the unfunded liability, and an amount for amortization of any unfunded pension liability by the year 2010. The pension levy for the year ended December 31 , 1984 for the Police Association was $70,355. There is no levy requirement for the Fire Association at this time. .- State law requires an actuarial study every two years. Based on the latest actuarial study for the Police Relief Association as of December 31 , 1982, the actuarial liability exceeded pension fund assets by approximately $1 ,556 ,537. The lastest study for the Firemen's Relief Association as of January 1 , 1983 stated that there was an excess of accrued liabilities over pension fund assets of $160,769. - Public Employee Retirement Association - All permanent City employees are covered by the Public Employee Retirement Association (PERA) which is a state-wide plan and is administered by an independent agency of the State of ._ Minnesota. The City's contribution ranges from 5.5% to 12.0% of its employees' wages, and the rate is determined by the particular plan the employee belongs to. The cost of PERA in 1983 and 1984 was $206,583 and $219,821 , respectively. State law provides that the City contribute an amount that will fund the current year costs as they accrue and to fund the amortization of prior service costs with full funding required by the year 2010. According to the latest PERA annual report, the unfunded accrued liability was $628,687,639 as of July 1 , 1984. The amount of unfunded prior service cost for each governmental unit served by PERA is not available. _ Federal Insurance Contribution Act (Social Security) - Approximately sixty (60%) percent of the permanent City employees are covered by Social Security. The 1983 contribution rate was 6.70% on $35,700 in wages, and the 1984 contribution rate was 6.70% on $37,800 in wages. The cost of Social Security in 1983 and -' 1984 was $98,764 and $107,006, respectively. 53 CITY OF FRIDLEY, MINNESOTA NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 1984 — 8. Interfund Receivables and Payables — Interfund Interfund Receivables Payables — Due From/Due To: Special Revenue Funds - — Home Ownership Fund $ 10,231 $ HRA Fund 147,286 Capital Projects Fund - _ Capital Improvement Fund 25.000 Special Assessment Fund 137.055 Internal Service Fund - Management Information Services Fund 25.000 — $172,286 $172,286 Advance From/Advance To: Capital Projects Fund - Capital Improvement Fund $ 75,000 Internal Service Fund - Management Information Services Fund $ 75,000 S4 CITY OF FRIDLEY, MINNESOTA NOTES TO FINANCIAL STATEMENTS (CONTINUED) DEER 31, 1984 9. Reserved Fund Balances/Retained Earnings The following reservations have been made of various fund balances/retained earnings at December 31 , 1984: Fund Balance General Fund '— Reserved for: Encumbrances $ 182,204 Park construction 86,467 Inventory 15,361 284,032 Capital Projects Fund Reserved for advance to other fund 75,000 ... Debt Service Fund Reserved for Debt Service 546,670 Special Assessment Fund Reserved for: Encumbrances 562,248 Debt Service 3,686,948 4,249,196 Total reservations $5,154,898 Retained Earnings Internal Service Fund Reserved for employee benefits $1,060,351 Management Information Services Fund Reserved for capital outlay 57,510 Total reservations $1,117,861 No reservations have been made in the Enterprise Funds for restricted assets, as — there was no excess of restricted assets over the related liabilities. 55 CITY OF FRIDLEY, MINNESOTA NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 1984 — 10. Designated Fund Balance — The following designations have been made of various fund balances at December 31 , 1984: — General Fund For Working Capital $3,000,000 --For Subsequent Year's Expenditures 312,426 For Replacement of Fixed Assets 1 ,000,000 4,312,426 Special Revenue Municipal state Aid Fund For Subsequent Year's Expenditures 402,821 — Capital Projects Capital Improvement Fund - — For Fixed Asset Replacement 1 ,501,183 For Park Improvement 63,199 1,564,382 — Total $6,279,629 56 CITZ OF FRIDLEY, MINNESOTA NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 1984 11. Segment Information for Enterprise Funds The City maintains operating funds for Liquor and Public Utility. Segment — information for the year ended December 31 , 1984 are as follows: Total Public Enterprise Liquor Utility Funds Sales (less cost of sales of $1 ,387,320) $ 257,685 $ -0- $ 257,685 Operating revenues -0- 2,401,206 2,401,206 Operating expenses (320,321) (2,043,653) (2,363,974) Operating income (62,636) 357,553 294,917 Nonoperating revenues 77,837 389,357 467,194 Income before operating ... transfers 15,201 746,910 762,111 Operating transfers from (to) other funds (120,000) 10,749 (109,251) Net income (loss) $ (104,799) $ 757,6.59 $ 652,860 Depreciation expense included in operating expenses 13,822 292,782 306,604 Property and equipment Additions 105,975 736,289 842,264 Deletions (4,510) (2,400) (6,910) Net working capital 563,926 4,532,515 5,096,441 Bonds and other long-term liabilities payable from operating revenues -0- 170,000 170,000 Total assets 1,095,653 17,316,137 18,411,790 Fund equity Contributed 10,861,185 10,861,185 Retained earnings $ 879,798 $ 6,192,475 $ 7,072,273 87 CITT OF FRIDLEY, MINNESOTA NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 1984 — 12. Litigation — The City had the usual and customary type of miscellaneous claims pending at year-end, mostly of a minor nature and usually all covered by insurance carried — for that purpose. At the present time, there is no significant litigation pending not covered by the City's insurance. 58 GENERAL FUND The General Fund was established to account for the revenues and expenditures necessary to carry out basic governmental activities of the City, such as general government, public safety, and public works. Revenues are recognized by source, such as property taxes, licenses and permits, fines and forfeits, charges for services and state-shared taxes. General Fund expenditures are made primarily for current day to day operations and are recorded by functional classifications and by operating departments. This fund accounts for all financial transactions not accounted for in another fund. • Exhibit II- 1 -' CITT OF FRIDLEY, MINNESOTA GENERAL FUND COMPARATIVE BALANCE SHEET December 31, 1984 and 1983 �- 1984 1983 Assets Cash $ $ 82,026 Investments 5,410,599 4,279,211 -. Receivables: Accounts 14,240 28,174 Taxes Unremitted 28,933 18,870 Delinquent 125,533 107,949 Special Assessments Deferred 9,406 14,470 Delinquent 7,945 8,964 Interest 528,685 441 ,447 Due from other governments 121 ,589 27,695 Inventories 15,361 17,908 Total assets $6,262,291 $5,026,714 Liabilities and Fund Balance Liabilities: Advance from city's general account $ 594,071 $ Accounts payable 58,865 86,995 Deposits payable 25,001 23,229 Contracts payable 970 Salaries payable 42,760 34,068 Deferred revenue 142,884 150,253 Due to other governments 5,887 580 Total liabilities 869,468 296,095 Fund balance: Reserve for encumbrances 182,204 485,148 Reserve for park construction 86,467 94,638 Reserve for inventory 15,361 17,908 Unreserved - Designated for working capital 3,000,000 1,600,000 Designated for subsequent year's expenditures 312,426 301,017 Designated for replacement of fixed assets 1 ,000,000 700,000 Undesignated 796,365 1 ,531,908 Total fund balance 5,392,823 4,730,619 Total liabilities and fund balance $6,262,291 $5,026,714 59 Exhibit d-2 "' CITY OF FRIDLEY, MINNESOTA - GENERAL FUND STATEMENT OF REVENUES, EXPENDITURES, AND - CHANGES IN FUND BALANCE - BUDGET AND ACTUAL Year Ended December 31, 1984 With Comparative Actual Amounts for Year Ended December 31, 1983 - 1984 - Variance- Favorable 1983 Budget Actual (Unfavorable) Actual - Revenues: Taxes and special assessments $2,491 ,571 $2,516,884 $ 25,313 $2.493,100 - Licenses and permits 240,662 359,605 118,943 271,988 Intergovernmental revenue 2,517,427 2,795,766 278,339 2,448,137 Charges for services 141 ,000 145,394 4.394 131 ,018 - Fines and forfeits 112,350 178,320 65,970 197,766 Interest on investments 260,000 397,975 137,975 277,480 Miscellaneous 42,000 98,691_ 56,691_ 60,222 Total revenues 5,805,010 6,492,635 687,625 5,879,711 - Expenditures: Current General government 902,057 806,399 95,658 749,389 Public safety 2,288,368 2,201,155 87,213 2,148,834 Civic center 152,317 149,332 2,985 156,708 - Public works 2,129,226 1 ,887,379 241 ,847 1 ,648,365 Parks and recreation 528,035 442,917 85,118 442,703 Reserve for contingencies 330,448 330,448 Capital outlay 587,857 491 ,518 96,339 231,390 -' Total expenditures 6,918,308 5,978,700 939,608 5,377,389 Excess (deficiency) of revenues -' over expenditures (1,113,298) 513,935 1,627,233. 502,322 Other financing sources (uses) : - Operating transfers in 447,000 460,152 13,152 570,000 Operating transfers out (312,183) (311,883) 300 (125,130) Total other financing sources (uses) 134,817 148,269 13,452 444,870 - access (deficiency) of revenues and other financing sources over expenditures and other financing uses (978,481) 662,204 1,640,685 947,192 - Fund balance January 1 4,730,619 4,730,619 3,783,427 -.Fund balance December 31 3,752,138 5,392,823 1,640,685 84,730,619 60 - Exhibit I-$ CITY OF FRIDLEY, MINNESOTA -- GENERAL FUND SCHEDULE OF REVENUES AND O1HER FINANCING SOURCES - BUDGET AND ACTUAL Year Ended December 31, 1984 -. With Comparative Actual Amounts for Year Ended December 31, 1983 1984 Variance- Favorable 1983 Budget Actual (Unfavorable) Actual Taxes and special assessments: Current ad valorem taxes $2,438,866 $2,430,609 $ (8,257) $2,404,241 - Delinquent ad valorem taxes 32.417 42,629 10,212 51 ,427 Penalties and interest 3,782 32,658 28,876 23,866 Forfeited sale-taxes 10.806 2,657 (8,149) 2,418 Special assessments 5.700 8,331 2.631 11 ,148 Total taxes 2,491,571 2,516,884 25,313 2,493,100 _ Licenses and permits Licenses - Contractor 15,000 12,807 (2,193) 11,025 Business 125.662 130,990 5,328 126,570 All other 5,000 6,167 1,167 5,762 Permits 95.000 209,641 114,641 128,631 Total licenses and permits 240,662 359,605 118,943 271,988 Intergovernmental revenue: Civil defense 16,000 11 ,628 (4,372) 9,279 Other federal grants 15,000 286,684 271 ,684 55,927 State maintenance aid 30,000 90,556 60,556 58,710 Attached machinery aid 15,875 Homestead credit 539,933 539.933 602,660 "' Local government aid 1 ,709,494 1 ,699,244 (10,250) 1 ,528,073 Other state grants 17,000 25,901 8,901 41 ,194 Police and fire pension 130,000 141 ,820 11,820 136,419 Local grants 60,000 (60.000) Total intergovernmental revenue 2,517,427 2,795,766 278,339 2,448,137 ._ Chrges for services: General government 18.000 31 ,477 13,477 8,698 Public safety 25,000 4,112 (20,888) 19,406 Conservation of health 20,000 (20,000) 9,708 Recreation 78,000 109.805 31 ,805 93,206 Total charges for services 141,000 145,394 4,394 131,018 ▪ Fine and forfeits 112,350 178,320 65,970 197,766 Interest on investments 260,000 397,975 , 137,975 277,480 (Continued) 61 IxIMrit M3 - Contl nwd CITY OF FRIDLET, MINNESOTA GENERAL FUND SCHEDULE OF REVENUES AND OTHER FINANCING SOURCES - BUDGET AID ACTUAL - Year Ended December 31, 1984 With Comparative Actual Amounts for Year Ended December 31, 1983 _ 1981 Variance- -- Favorable 1983 Budget Actual (Unfavorable) Actual Miscellaneous revenue: Rent income $ $ 1 ,957 $ 1 ,957 $ 106 Sale of property 15,750 52,201 36,451 29,109 Donations 15,750 24,366 8,616 19,440 Miscellaneous refunds 10,500 20,167 9,667 11,567 Total miscellaneous revenue 42,000 98,691 56,691 60,222 _ Total revenue 5,805,010 6,492,635 687,625 5,879,711 Other financing sources: -Operating transfers in - Municipal State Aid Fund 140,000 140,000 140,000 Revenue Sharing Fund 187,000 187,000 280,000 Cable TV Fund 13,152 13,152 Liquor Fund 120,000 120,000 150,000 Total other financing sources 447,000 460,152 13,152 570,000 _ Total revenues and other financing sources $6,252,010 $6,952,787 $ 700,777 $6,449,_711 _ 62 Exhibit 1-4 CITY OF FRIDLEY, MINNESOTA - GAIL FUND SCHEDULE OF EXPENDITURES AID OTHER FINANCING USES - BUDGET AID ACTUAL Year Ended December 31, 1984 With Comparative Actual Amounts for Year Ended December 31, 1983 1984 Variance- Favorable 1983 Budget Actual (Unfavorable) Actual General government: Mayor and council - Personal services $ 61,850 $ 59,205 $ 2,645 $ 57,250 Supplies and other charges 28,650 27,128 1,522 27,311 90,500 86,333 4,167 84,561 -" Planning commission - Personal services 25,150 19,416 5,734 17,015 Supplies and other charges 8,400 3,784 4,616 3,175 33,550 23,200 10,350 20,190 Other commissions - Personal services 11,841 6,276 5,565 7,666 Supplies and other charges 15,320 10,205 5,115 10,531 27,161 16,481 10,680 18,197 '- City Manager - Personal services 139,398 125,967 13,431 131 ,970 Supplies and other charges 52,450 43,652 8,798 45,449 - 191,848 169,619 22,229 177,419 Personnel - Personal services 31 ,150 25,789 5,361 23,564 '-' Supplies and other charges 5,350 4,514 836 3,244 36,500 30,303 6,197 26,808 - Legal - Personal services 5,800 5,687 113 6,213 Supplies and other charges 105,439 105,290 149 75,815 111,239 110,977 262 82,028 Elections - Personal services 39,264 29,460 9,804 23,652 Supplies and other charges 8,950 2,480 6,470 4,040 48,214 31,940 16,274 27,692 - Accounting - Personal services 145,933 143,574 2,359 130,385 Supplies and other charges 77,424 63,649 13,775 62,877 - 223,357 207,223 16,134 193,262 Assessing - Personal services 107,688 98,480 9,208 104,573 - Supplies and other charges 32,000 31,843 157 14,659 139,688 130,323 9,365 119,232 .- Total general goverment 902,057 806,399 95,658 749,389 (Continued) 63 Inhibit 1-4 ContiiwN CITY OF FRIDLEY, MINNESOTA _ GENERAL FUND SCHEDULE OF EXPENDITURES AND OTHER FINANCING USES - BUDGET AND ACTUAL Year Ended December 31, 1984 - With Comparative Actual Amounts for Year Ended December 31, 1983 1984 - Variance- Favorable 1983 Budget Actual (Unfavorable) Actual - Public safety: Police - - Personal services 1 ,603,250 $1,538,784 $ 64,466 $1 ,498,697 Supplies and other charges 202,931 198,844 4,087 189,361 1 ,806,181 1 ,737,628 68,553 1 ,688,058 - Fire - Personal services 354,731 345,103 9,628 345,111 Supplies and other charges 69.586 66,357 3,229 66,976 _" 424,317 411 ,460 12,857 412,087 Civil defense - - Personal services 51 ,000 48,265 2,735 43,973 Supplies and other charges 6,870 3,802 3,068 4,716 57,870 52,067 5,803 48,689 - Total public safety 2,288,368 2,201,155 _ 87,213 2,148,834 Civic center: - Personal services 63,300 60,460 2,840 56,688 Supplies and other charges 89,017 88,872 145 100,020 152,317 149,332 , 2,985 156,708 - Public works: Code enforcement - Personal services 185,549 141 ,579 43,970 154,385 -- Supplies and other charges 27,852 27,516 336 23,350 213,401 169,095 44,306 177,735 Planning - Personal services 92,996 72,937 20,059 62,032 Supplies and other charges 238,690 238,558 132 18,762 - 331 ,686 311,495 , 20,191 80,794 Engineering - Personal services 84,597 84,396 201 97,393 - Supplies and other charges 37,575 37,433 142 28,454 122,172 121 ,829 343 125,847 Public works - Personal services 711 ,040 679,184 31 ,856 685,282 Supplies and other charges 750,927 _ 605,776 145,151 578,707 --. 1 ,461 ,967 1 ,284,960 177,007 1 ,263,989 Total public works 2,129,226 1,887,379 , 241,847 1,648,365 (Continued) 64 - ■ 61 bit 11-4 Continued CITY OF FRIDLEY, MINNESOTA-- GENERAL FUND SCHEDULE OF EXPENDITURES AND OTHER FINANCING USES - BUDGET AND ACTUAL Year Ended December 31, 1984 With Comparative Actual Amounts for Year Ended December 31, 1983 - 1984 Variance- Favorable 1983 - Budget Actual (Unfavorable) Actual Parks and recreation: -- Naturalist - Personal services $ 79,201 $ 79,094 $ 107 80,242 Supplies and other charges 33,840 29,291 4,549 23,162 113,041 108,385 4,656 103,404 Recreation - Personal services 295,144 240,805 54,339 245,297 Supplies and other charges 119,850 93,727 26,123 94,002 414,994 334,532 80,462 339,299 Total parks and recreation 528,035 442,917 85,118 442,703 Reserve for contingencies 330,448 -0- 330,448 -0- ,_ Capital outlay expenditures - Other commissions 2,862 City manager 425 288 137 Accounting 6,595 6,221 374 584 Assessing 400 400 395 Police 90,330 89,436 894 73,567 Fire 19,500 8,139 11 ,361 4,620 - Civic center 27,425 4,623 22,802 21 ,161 Planning 49,200 49,073 127 Engineering 14,400 14,290 110 445 ,_ Public works 373,502 315,089 58,413 4,397 Naturalist 1 ,250 1 ,250 6,059 Parks 109,540 Recreation 4,830 4,359 471 7,760 Total capital outlay 587,857 491,518 96,339 231,390 Total expenditures 6,918,308 5,978,700 939,608 5,377,389 Other financing uses: Operating transfers out - Sears Fund 1,411 University Avenue Bike/Walk Fund 959 Capital Improvement Fund 170,900 170,846 54 Special Assessment Fund 141 ,283 141 ,037 246 122,760 - Total other financing uses 312,183 311,883 300 125,130 Total expenditures and other financing uses #7,230,491 $6,290,583 $939,908 $5,502,519 65 SPECIAL REVENUE FUNDS Special Revenue Funds are used to account for revenues derived from specific taxes or other earmarked revenue sources. They are usually required by statute, charter provision or local ordinance to finance particular governmental functions or activies. Municipal State Aid Fund This fund is used to account for the City's allocation of the state collected highway user tax. The allocation is based on both population and the need for construction of state aid streets in the City. Transfers are made from this fund to the Special Assessment Fund for current year road construction activity. Revenue Sharing Fund This fund was established to receive and account for the City's allocation of Federal Revenue Sharing money. The amount available to a governmental unit is allocated on the basis of a formula established by the Congress of the United States. Fridley uses its revenue sharing money for reducing general property taxes. Cable TV Fund This fund receives revenues from issuance of an annual license to the cable TV provider. These revenues are used for the operation and maintenance of a government access channel. Home Ownership Fund This fund receives revenues from a variety of sources for housing rehabilitation. HRA Fund This fund receives revenues from general property taxes in the form of tax increment and also from land sale proceeds. A board of commissioners is appointed by the City Council and they use these funds to purchase land in the City of Fridley for resale to developers of commercial facilities. CITY OF FRIDLEY, MINNESOTA SPECIAL REVENUE FUNDS COMBINING BALANCE SHEET December 31,_1984 With Comparative Totals for December 31 , 1983 — Municipal State Revenue Cable — Aid Sharing TV Assets — Cash $ $ $ 182 Investments 1 ,101 ,860 64,862 — Accounts receivable 13,589 Interest receivable Due from other funds Due from other governments 91 ,239 , 56,210 '- Total assets $1,193,099 $56,210 $78,633 Liabilities and Fund Balance Liabilities: Advance from city's general account $ 23,614 $10,284 $ Accounts payable 137 Deposits payable -- Contract payable Salaries payable 115 Due to other funds — Total liabilities 23,614 . 10,284 252 Fund balance: _ Unreserved - Designated for subsequent year's expenditures 402,821 Undesignated 766,664 45,926 78,381 — Total fund balance 1 ,169,485 45,926 78,381 Total liabilities and — fund balance $1,193,099 $56,210 $78,633 68 Exhibit C- 1 Howae Totals Ownership HRA 1984 -�� 1983 $ $ 2,259 $ 2,441 $ 463,468 10,565 866,549 2,0143,836 1 ,653,971 13,589 11 ,860 8,684 8,684 44,250 .. 10,231 10,231 20,579 147,449 76,483 $20,796 $877,1192 $2,226,230 $2,270,611 $20,459 $ $ 54,357 $ 38,609 256 1 ,270 1 ,663 8 10,850 10,850 1C,850 35,879 81 196 147,286 9117,286 20,579 52 20,796 159,406 214,3 105,925 1402,821 8,680 718,086 _ 1 ,609,057 2,156,006 -0- 718,086 _2,011,878 2,16 4 686 $20,796 $8771492 $2 2262230 $2,_270,:611 69 CITY OF FRIDLEYY MINNESOTA SPECIAL REVENUE FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES Year Ended December 31, 1984 With Comparative Totals for December 31, 1983 — Municipal State Revenue Cable -" Aid Sharing TV Revenues: — Tax increment $ $ $ Licenses and permits 51 ,449 Intergovernmental revenue 325,537 196,565 — Interest on investments 132,365 7,662 6,857 Miscellaneous Total revenues 457,902 204,227 58,306 — Expenditures: Current - General government 48 44,516 -- Public works Capital outlay Total expenditures -0- 48 44,516 — Excess of revenues over expenditures 457,902 204,179 13,790 Other financing uses: Operating transers out (425,508) (1871000) (13,152) Excess (deficiency) of revenues and other financing sources over expenditures and other financing uses 32,394 17,179 638 -' Fund balance January 1 1,137,091 28,747 77,743 Fund balance December 31 $1,169,485 $ 45,926 $ 78,381 70 Exhibit C-2 Home Totals Ownership BRA 1984 1983 $ $ 128,042 $ 128,042 $ 51 ,449 48,976 56,430 5,693 584,225 534,837 90,7148 237,632 244,579 202,484 202,484 110,612 56,1130 42-6 -9-67 _, 17203,832 939,004 �- 44,564 47,410 56,430 110,414 166,844 233,301 _ _ 112,014 _112,014 220,194 56,430 222,1128 _ 323,422 _500,905 ^-0- _204_,539 880,410 438,099 -0- (407,558) (1,033,218) (9110,794) -0- (203,019) (152,808) (502,695) -0- 921,105 2,164,686 2,667,381 $ -0- $718,086 $2,011,878 $2,164,686 71 Exhibit C-3 CITY OF FRIDLEY, MINNESOTA MUNICIPAL STATE AID SPECIAL REVENUE FUND _ COMPARATIVE BALANCE SHEET December 31, 1984 and 1983 1984 1983 Assets Cash $ $ 98,868 Investments 1 ,101 ,860 1 ,008,525 — Due from other governments 91 ,239 29,698 Total assets $1,193,099 $1,137,091 — Liability and Fund Balance Liability: Advance from city's general account $ 23,614 $ -0- Fund balance: Unreserved - Designated for subsequent year's expenditures 402,821 8,680 Undesignated 766,664 1 ,128,411 Total fund balance 1,169,485 1,137,091 Total liability and fund balance $1,193,099 $1,137,091 — 72 Exhibit C-4 CITY OF FRIDLEY, MINNESOTA MUNICIPAL STATE AID SPECIAL REVENUE FUNDS STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL Year Ended December 31, 1984 With Comparative Amounts for Year Ended December 31, 1983 1984 Variance- Favorable 1983 Budget Actual (Unfavorable) Actual Revenues: Intergovernmental - Minnesota state aid $ 310,086 $ 325,537 $15,451 $ 228,291 Interest on investments 120,000 132,365 12,365 116,153 Total revenues 430,086 457,902 . 27,816 344,444 Other financing uses: Operating transfers out - General Fund 140,000 (140,000) (140,000) Special Assessment Fund 290,086 (285,508) 4,578 (219_,933) Total other financing uses 430,086 (425,508) 4,578 (359,933) Excess (deficiency) of revenues and other financing sources over expenditures and other financing uses -0- 32,394 32,394 (15,489) Fund balance January 1 1,137,091 1,137,091 1,152,580 Fund balance December 31 $1,137,091 $1,1691685 $32,3914 $1,13j091. 73 — Exhibit C-5 CITY OF FRIDLEY, MINNESOTA REVENUE SHARING SPECIAL REVENUE FUND _ COMPARATIVE BALANCE SHEET December 311 1984 and 1983 1984 1983 Assets Due from other governments $ 56,210 $46,785 Liability and Fund Balance Liability: Advance from city's general account $ 10,284 $18,038 Fund balance: — Unreserved - undesignated 45,926 28,747 Total liability and fund balance $ 564210 446,785 74 Exhibit C-6 CITY OF FRIDLEY, MINNESOTA REVENUE SHARING SPECIAL REVENUE FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL Year Ended December 31, 1984 With Comparative Amounts for Year Ended December 31, 1983 1984 Variance- Favorable 1983 Budget Actual (Unfavorable) Actual Revenues: _, Intergovernmental - Revenue sharing $ 180,900 $ 196,565 $15,665 $ 187,358 Interest on investments 6,100 7,662 1 ,562 11 ,491 Total revenues 187,000 204,227 17,227 198,849 Expenditures: Current General government - Supplies and other charges 50 48 2 650 'Excess of revenues over expenditures 186,950 204,179 17,229 198,199 Other financing uses: Operating transfers out - General fund (187,000) (187,000) -0- (280,000) Excess (deficiency) of revenues and other financing sources over expenditures and other financing uses (50) 17,179 17,229 (81,801) Fund balance January 1 28,747 28,747 -0- 110,548 Fund balance December 31 $ 28,697 $ 45,926 $17,229 $ 28,747 75 Exhibit C-7 -' CITY OF FRIDLEY, MINNESOTA CABLE TV SPECIAL REVENUE FUND COMPARATIVE BALANCE SHEET -- December 31, 1984 and 1983 1984 1983 Assets Cash $ 182 $ 6,253 Investments 64,862 59,630 — Accounts receivable 13,589 _11 ,860 Total assets $78,633 $77,743 Liabilities and Fund Balance Liabilities: Accounts payable $ 137 $ Salaries payable 115 Total liabilities 252 -0- "- Fund balance: Unreserved - undesignated 78,381 77,743 -- Total liabilities and fund balance $78,633 $77,743 76 Exhibit C-8 CITY OF FRIDLEY MINNESOTA CABLE TV SPECIAL REVENUE FUND STATEMENT OF REVENUES EXPENDITURES AND CHANGES BALANCE FUND BALCE - BUDGET AND ACTUAL ... , Year Ended December 3_1, 1984 With Comparative Amounts for Year Ended December 31, 1983 1984 Variance- Favorable 1983 Budget Actual (Unfavorable) Actual Revenues: Licenses - Cable TV $ 50,000 $ 51 ,449 $ 1 ,449 $48,976 Interest on investments �-2 000 6_2857 4,657 2,643 Total revenues 52,000 58,306 6,306 51,619 Expenditures: Current _ General government - Personal services 24,800 18,748 6,052 21 ,117 Supplies and other charges 25,401 25,768 (367) 25,643 Capital outlay 1 ,799 1 ,799 270 Total expenditures 52,000 _ 44,516 7,484 47,030 Excess of revenues over expenditures __ ____J--0- 13 X790 13,790 4,589 Other financing uses: Transfer to general fund (13,500) (13,152) 348 Excess (deficiency) of revenues over expenditures and other financing uses (13,500) 638 14,138 4,589 Fund balance January 1 77,743 77,743 -0- 73,154 Fund balance December 31 $ 64,243 $ 78,381 $14,138 $77,743 77 Exhibit C-9 CITY OF FRIDLEY, MINNESOTA HOME OWNERSHIP SPECIAL REVENUE FUND COMPARATIVE BALANCE SHEET Dece ber 31, 1984 and _1983 1984 1983 Assets -" Investments $10,565 $ — Due from other funds 10,231 20,579 Total assets $20,796 $20,579 Liabilities and Fund Balance Liabilities: — Advance from city's general account $20,459 $20,571 Accounts payable 256 8 Salaries payable 81 — Total liabilities 20,796 20,579 Fund balance: --Unreserved - undesignated -0- _ -0- Total liabilities and fund balance $20,796 $20,579 78 Exhibit C- 10 CITY OF FRIDLEY, MINNESOTA HOME OWNERSHIP SPECIAL REVENUE FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL Year Ended December 31, 1984 With Comparative Amounts for Year Ended December 31, 1983 1984 Variance- Favorable 1983 Budget Actual (Unfavorable) Actual Revenues: Intergovernmental - Rousing Redevelopment Authority $56,500 $56,430 $ (70) $56,160 Expenditures: Current Public Works - Personal services 44,500 44,659 (159) 50,826 Supplies and other charges 12,000 11 ,771 229 5,334 Total expenditures 56,500 _56,430 70 56.160 Excess of revenues over expenditures -0- -0- -0- -0- -' Fund balance January 1 -0- -0- -0- -0- Fund balance December 31 $ -0- $ -O- $ -0- $ -0- 79 Exhibit C-11 '^ CITY OF FRIDLEY, MINNESOTA HOUSING AND REDEVELOPMENT AUTHORITY SPECIAL REVENUE FUND COMPARATIVE BALANCE SHEET - December 31, 1984 and 1983, 1984 1983 Assets — Cash $ 2,259 $358,347 Investments 866,549 585,816 — Interest receivable 8,684 44,250 Total assets $877,492 $988,413 _ Liabilities and Fund Balance Liabilities: Accounts payable $ 1 ,270 $ Deposits payable 10,850 10,850 _ Contracts payable 35,879 Due to other funds 147,286 20,579 Total liabilities 159,406 67,308 Fund balance: Unreserved - undesignated 718,086 921,105 Total liabilities and fund balance $877,492 $988,413 80 Exhibit C-12 CITY OF FRIDLEY, MINNESOTA HOUSING AND REDEVELOPMENT AUTHORITY SPECIAL REVENUE FUND STATEMENT OF REVENUES, EXPENDITURES AND _ CHANGES IN FUND BALANCE - BUDGET AND ACTUAL Year Ended December 31.2_1984 With Comparative Amounts for Year Ended December 31, 1983 1.984 Variance- "' Favorable 1983 Budget Actual (Unfavorable) Actual Revenues: Taxes - Tax increment $ 120,000 $ 128,042 $ 8,042 $ -0- Intergovernmental revenue - State credits 5,000 5,693. 693 63,028 Interest on investments 70,000 90,748 20,748 114,292 Miscellaneous revenue: Rent income 10,000 12,106 2,106 35,236 Sale of property 190,000 190,378 378 10,050 Other _ 65,326 Total miscellaneous revenue 200,000 202,48? 2,484 110,612 Total revenues 395,000 4264967 31,967 287,932 Expenditures Current - Public works 110,500 110,411 86 177,141 Capital outlay 115,000 112,014 2,986 219,924 Total expenditures 225,500 222,428 3,072 397,065 Excess (deficiency) of revenues over expenditures 169,500 204,539 35,039 (109,133) Other financing sources (uses) : Operating transfers in (out) - Special Assessment Fund (500,000) (407,558) 92,442 (300,000) -. ERA Debt Service Fund 0861) Total other financing sources (uses) (500,000) (407,558) 92,442 __ (300,861) Excess (deficiency) of revenues and other financing sources over expenditures and other financing uses (330,500) (203,019) 127,481 (409,994) Fund balance January 1 921,105 921,105 -o- 1,331,999 Land balance December 31 $ 590,605 $ 718,086 $1481 $ 921,105 81 DEBT SERVICE FUNDS Debt Service Funds are used to finance and account for the payment of principal and interest on all general obligation debt other than that payable exclusively from special assessments or debt issued for and serviced by. governmental enterprises. Provisions are made in the City's general property tax levy so that sufficient resources are available to meet the general obligation debt. Tax increment money is used to service the debt on redevelopment related bonds. City Fund This fund services the debt on one bond issue from 1965 for the construction of the City's Civic Center. HRA Fund This fund services the debt of three general obligation tax increment bonds that were issued in 1981 , 1982 and 1983 payable from tax increment funds. Exhibit D-1 CITY OF FRIDLEY, MINNESOTA DEBT SERVICE FUNDS COMBINING BALANCE SHEET December 31, 1984 With Comparative Totals for December 31, 1983 Totals City HRA 1984 1983 Assets Cash $ $ 188 $ 188 $109,726 Investments 50,090 458,147 508,237 543,250 ._ Receivables: Taxes Unremitted 345 1,626 1,971 2,563 Delinquent 1 ,886 3,347 5,233 14,958 Prepaid expenditures 36,274 36,274 Total assets $88,595 $463,308 $551,903 $670,497, Liability and Fund Balance Liability: Deferred revenue $ 1,886 $ 3,347 $ 5,233 $ 17,521 Fund balance: Reserved for debt service 86,709 459,961 546,670 652,976 Total liability and fund balance $88,595 $483,308 $551,903 $670,497 83 Exhibit D-2 CITY OF FRIDLEY, MINNESOTA DEBT SERVICE FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES AND -- CHANGES IN FUND BALANCES Year Ended December 31, 1984 With Comparative Totals for Year Ended December 31, 1983 Totals - City BRA 1984 1983 Revenues: -- Taxes $ 29,307 $ $ 29,307 $ 29,100 Tax increment 177,187 177,187 272,563 Intergovernmental - Homestead credit 6,303 238 6,541 11 ,994 - Interest on investments 4,976 61 ,823 66,799 52,355 Total revenues 40,586 239,248 279,834 366,012 Expenditures: Current - Debt service Principal retirement 35,000 50,000 85,000 35,000 - Interest and fiscal charges 3,117 298,023 301 ,140 290,707 Total expenditures 38,117 348,023 386,140 325,707 Excess (deficiency) of revenues over expenditures 2,469 (108,775) (106,306) 40,305 Other financing sources (uses) : Operating transfers in (out) - HRA Fund -0- -0- -0- 861 Excess of revenues and other financing sources over expenditures and other -- financing uses 2,469 (108,775) (106,306) 41,166 Fund balance January 1 84,240 __. 568,736 652,976 611,810 - Fund balance December 31 $ 86,709 $ 459,961 $ 546,670 $652,976 84 CAPITAL PROJECTS FUNDS Capital Projects Funds are used to account for the resources expended to acquire permanent or long term assets. These funds are established to provide special accounting for bond proceeds, grants and contributions designated for the acquisition of capital assets. Capital project funds provide a formal mechanism which enables administrators to ensure that revenues designated for specific purposes are properly used. Capital Improvement Fund This fund is used to account for the money received from property taxes that are used to finance major improvements and the acquistion of assets that require a large capital outlay. North Park Visitation Fund This fund is used to account for the revenues and expenditures incurred in the construction of a wildlife visitation area. Sears Fund This fund is used to account for the revenues and expenditures that are related to the construction of an outdoor athletic recreation facility. CITY OF FRIDLEY, MINNESOTA CAPITAL PROJECTS FUNDS COMBINING BALANCE SHEET December 31, 1984 With Comparative Totals for December 31, 1983 North Capital Park Improvement Visitation Sears _ Assets Cash $ 614,250 $ Investments 1 ,537,403 Receivables: Accounts — Taxes Unremitted 424 Delinquent 1 ,886 Due from other funds 25,000 Due from other governments 111 ,567 Advance to Management Information Services Fund 75,000 Total assets $1,7033963 $-0- $ 111,567 Liabilities and Fund Balance Liabilities: Advance from city's general account $ $ $ 108,544 Accounts payable 62,695 18 Deferred revenue 1 ,886 — Due to other governments Total liabilities 64,581 -0- 108,562 _ Fund balance: Reserved for advance to other fund 75,000 _ Unreserved - Designated for fixed asset replacement 1 ,501 ,183 Designated for park improvement 63,199 Undesignated 3,005 -- Total fund balance 1,639,382 -0- 3,005 Total liability and fund balance $1,703,963 $-0- $ 111,567 86 Exhibit E-1 Totals 1984 1983 $ 64,250 $ 126,134 1 ,537,403 1 ,202,789 25,000 424 283 — 1 ,886 1 ,703 25,000 25,000 111 ,567 75,000 100,000 $1,815,1530 $1,1180909 $ 108,544 $ 28,405 62,713 7,502 1 ,886 1 ,986 173,143 37,893 — 75,000 100,000 1 ,501,183 1 ,268,078 63,199 _3,005 74,938 1,6421387 1,4113016 $1,815,530 $1,480 909 87 CITY OF FRIDLEY, MINNESOTA CAPITAL PROJECTS FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES AND - CHANGES IN FUND BALANCES Year Ended December 31, 1984 With Comparative Totals for Year Ended December 31, 1983 North -- Capital Park Improvement Visitation Sears Revenues: Taxes - Current ad valorem taxes $ 35,847 $ $ ,_ Delinquent ad valorem taxes 204 Total taxes 36,051 -0- -0- Intergovernmental revenue - Homestead credit 7,774 State grant 111 ,567 Total intergovernmental revenue 7,774 -0- 111,567 — Interest on investments 144,612 5,855 -0- Miscellaneous revenue - Donations 17,000 Other 160 _, Total miscellaneous revenue -0- -0- 17,160 Total revenues 188,437 5,855 128,727 ,_ (Continued) _ 88 -' Exhibit E-2 Totals 1984 1983 $ 35,847 $ 35,061 2014 829 36,051 35,890 7,774 8,691 111 ,567 _ 119,341 8,691 150,467 148,778 17,000 38,129 .. 160 500 17,160 38,629 323,019 231,988 89 CITY OF FRIDLEY, MINNESOTA — CAPITAL PROJECTS FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES AID — CRINGES IN FUND BALANCES (Continued) Year Ended December 31, 1984 With Comparative Totals for Year Ended December 31, 1983 -- North — Capital Park Improvement Visitation Sears Expenditures: Current - Capital projects Construction contracts $ $ $ 24,918 — Engineering 23,351 95,047 Capital outlay 84,259 Total expenditures 84,259 23,351 119,965 -- Excess (deficiency) of revenues over expenditures 104,178 (17,496) 8,762 — Other financing sources (uses) : Operating transfers in (out) - --General Fund 170,846 Capital Improvement Fund (63,199) North Park Fund 63,199 Special Assessment Fund (66,919) -- Total other financing sources (uses) 167,126 (63,199) -0- Excess (deficiency) of revenues and other financing sources over expenditures and other financing uses 271,304 (80,695) 8,762 — Fund balance January 1 1,368,078 80,695 (5,757) Fund balance December 31 $1,639,382 $ -0- 3,005 — 90 Exhibit E-2 Continued Totals 1984 1983 $ 24,918 $ 363,628 118,398 140,530 84,259 227,575 404,158 95,444 (172,170) 170,846 2,370 (63,199) 63,199 (66919) (31 ,843) 103,927 (29,473) 199,371 (201,643) 1,443,016 1,644,659 $1,642,387 $1,443016 91 SPECIAL ASSESSMENT FUNDS Special Assessment Funds are used to account for the construction and financing of certain public improvements such as residential streets , sidewalks and storm sewers or for the provision of services which are to be paid for solely by the benefited property owner. The fact that special assessment improvements are paid for completely or in part by property owners in a limited geographical area deemed to be benefited distinguishes them from improvements that benefit the entire community and which are paid for out of general revenues or through issuance of general obligation bonds. Special Assessments Fund This fund is used for the construction of improvements and the collection of assessments from properties benefiting from the improvements . The payments for the principal and interest on bonds used to finance improvements are expended through this fund. Revolving Fund This fund is used for providing temporary financing for small improvements undertaken by the City until permanent financing is obtained. "" Exhibit F-1 "' CITY OF FRIDLEY, MINNESOTA SPECIAL ASSESSMENT FUNDS COMBINING BALANCE SHEET .. December 31, 1984 With Comparative Totals for December 31, 1983 Special Totals Assessments Revolving 1984 1983 Assets - Cash $ 256,954 $ $ 256,954 $ 792,217 Investments 6,470,629 790,161 7,260,790 6,359,092 Receivables: Accounts 61 ,009 61 ,009 Special Assessments Deferred 4,081 ,383 60,239 4,141 ,622 3,673,303 Delinquent 360,633 3,373 364,006 420,983 '- Due from other funds 137,055 137,055 Due from other governments 56,059 56,059 148,500 Prepaid expenditures 25,822 25,822 Total assets $11,449,544 $853,773 $12,303,317 $11,394,095 Liabilities and Fund Balance .- Liabilities: Advance from City's general account $ $ 23,806 $ 23,806 $ Accounts payable 3,737 3,737 12,404 Deposits payable 116,199 116,199 106,182 .. Contracts payable 26,974 26,974 29,364 Salaries payable 286 286 1 ,040 Deferred revenue 4,442,016 63,612 4,505,628 4,094,286 Bonds payable 3,855,000 _ 3,855,000 4,535,000 Total liabilities 8,328,013 203,617 8,531,63_0 8,778,276 Fund balance: Reserved for encumbrances 562,248 562,248 269,933 Reserved for debt service 3,686,948 3,686,948 2,172,579 Unreserved - undesignated (1 ,127,665) 650,156 (477,509) 173,307 Total fund balance 3,121,531 650,156 3,771,687 2,615,819 Total liabilities and fund balance $11,449,544 $853,773 $12,303,317 $11,394,095 93 Exhibit F-2 - CITY OF FRIDLEYJ MINNESOTA SPECIAL ASSESSMENT FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES December 31) 1984 With Comparative Totals for Year Ended December 31, 1983 - Special Totals - Assessments Revolving 1984 1983 Revenues: Special assessments $1 ,156,460 $ 25,648 $1 ,182,108 $ 722,223 - Intergovernmental revenue 64,549 64,549 141 ,662 Interest on investments 787,043 75,115 862,158 727,703 Interest on penalties on assessments 17,508 251 17,759 347,427 - Miscellaneous 18,041 18,041 7,245 Total revenues 2,043,601 101,014 2,144,615 1,946,260 Expenditures: Capital projects 1 ,429,431 1 ,429,431 865,008 Debt service - --Interest and fiscal charges 449,589 449,589 448,291 Total expenditures 1,879,020 -0- 1,8793 020 1,313,299 Excess of revenues over expenditures 164,581 101,014 265,595 632061 Other financing sources (uses) : - Operating transfers in - General Fund 141 ,037 141 ,037 122,760 Municipal State Aid Fund 285,508 285,508 219,933 _, HRA Fund 407,558 407,558 300,000 Sears Fund 31 ,843 Capital Improvement Fund 66,919 66,919 Public Utility Fund 13,057 13,057 -" Operating transfers out - Public Utility Fund (23,806) (23j806) (13_2062) Total other financing - sources (uses) 914,079 (23,806) 890273 6613474 Excess of revenues and - other financing sources over expenditures and other financing uses 1,078,660 77,208 1,155,868 1,294,435 Fund balance January 1 2,042,871 572,948 2,6153 819 1,321,384 Fund balance December 31 $3,121,531 $650,156 $3,771/687 $2,6153_819 - 94 ENTERPRISE FUNDS Enterprise Funds are used to account for the operations of self-supporting governmental activities which render services or goods to the public . The accounting records are maintained on an accrual basis. The reporting for Enterprise Funds is similar to comparable private enterprises. Creditors, legislators or the general public can evaluate the performance of a muncipal enterprise on the same basis as they can the performance of investor-owned enterprises. Liquor Fund This fund accounts for the operation of two municipal off-sale liquor establishments. Public Utilities Fund This fund accounts for the operation of the City-owned sewer and water system. -' Exhibit (1-1 CITY OF FRIDLEY, MINNESOTA ENTERPRISE FUNDS!^ COMBINING BALANCE SHEET December 31, 1984 With Comparative Totals for December 31, 1983 Public Totals Liquor Utilities 1984 1983 Assets Current assets: Cash $ 200,115 $ 31 ,858 $ 231 ,973 $ 452,023 Investments 230,163 3,879,315 4,109,478 3,096,470 Accounts receivable 476,922 476,922 538,584 Due from other governments 157,895 157,895 71 ,869 Inventories 349,503 4,192 353,695 195,289 ,_ Prepaid expenses _ 124,810 124,810 73,401 Total current assets 779,781 _ 4,674,992 _ 5,454,773 4,427,636 Long term receivable - Metropolitan -• Waste Control Commission -0- 334,662 334,662 351,566 Restricted assets (for debt service): Cash 23,806 23,806 Investments, at cost 64,243 64,243 163,654 Total restricted assets -0- 88,049 88,049 163,654 "" Property and equipment, at cost: Property and equipment 425,573 14,149,399 14,574,972 13,739,618 Less: accumulated depreciation (109,701) _ (1 ,930,965) (2,040,666) (1 ,740,972) Net property and equipment 315,872 12,218,434 12,534,306 11,998,646 Total assets $1,095,653 17,316,L17 3J 18,411,790. JOIAAJ,502 Liabilities and Fund Equity Current liabilities: .. Accounts payable $ 192,022 $ 75,219 $ 267,241 $ 118,059 Contracts payable 10,744 10,744 Salaries payable 4,414 4,986 9,400 8,382 .. Due to other governments 19,419 1 ,528 20,947 8,968 Bonds payable 50,000 50,000 50,000 Total current liabilities 215,855 142,477 358,332 185,409 Long term liabilities: Bonds payable (net of current portion) -0- 120,000 120,000 170,000 '- Total liabilities 215,855 262x 77 __ 478,332 _ 355,1409 Fund equity: .. Contributed capital 10,861 ,185 10,861,185 10,166,680 Retained earnings - unreserved 879,798 6,192,475 __3,072,273 6,419,413 Total fund equity 879,798 17,053,660 17,933,458 16,586,093 - Total liabilities and fund equity $1,095,653 $17,316,137 $18,411,790 P6,941,502 95 Exhibit 0-2 CITY OF FRIDLEY, MINNESOTA ENTERPRISE FUNDS - COMBINING STATEMENT OF REVENUES., EXPENSES AND CHANGES IN RETAINED EARNINGS Year Ended December 31, 1984 With Comparative Totals for Year Ended December 31, 1983 -- Public Totals _ Liquor Utilities 1984 1983 Sales and cost of sales: --Sales $1 ,645,005 $ $1 ,645,005 $1 ,618.204 Cost of sales 1 ,387,320 1 ,387,320 1 ,303,551_ Gross profit $ 257,685 -0- 257,685 314,653 Operating revenues: Water sales and sewer rents 2,060,966 2,060,966 1 ,837,000 Other 340,240 340,240 91 ,973 -- Total operating revenues -0- 2,401,206 2,401,206 1,928,973 Operating expenses: Personal services 195,176 475,669 670,845 677,973 Supplies and other charges - Disposal charges 750,547 750,547 867,269 _ Other 111 ,323 524,655 635.978 490,442 Depreciation 13,822 292,782 306,604 102,846 Total operating expenses 320,321 2,043,653 2,363,974 2,138,530. _ Operating income (62,636) 357,553 294,917 105,096 Nonoperating revenues (expenses): "- Intergovernmental revenue - local grant 2,250 2,250 3,090 Interest on investments 60,870 393,214 454,084 373,838 _ Debt service (6,907) (6,907) (8,659) Other 16,967 800 17,767 14,023 Total non-operating --revenues (expenses) 77,837 389,357 467,194 382,292 Income before operating transfers 15,201 746,910 762,111 487,388 -- Operating transfers in (out) : General Fund (120,000) (120,000) (150,000) -- Special Assessments Fund (13,057) (13,057) Revolving Fund 23,806 23,806 13,062 Total operating transfers (120,000) 10,749 (109,251) (136,938) ., Net income (loss) (104,799) 757,659 652,860 350,450 Retained earnings January 1 984,597 5,434,816 6,4 ,413 6,068,963 Retained earnings December 31 $ 879,798 $6,192,475 $7,072,273 $6,419,413 _ 96 Exhibit 0-3 CITY OF FRIDLEY, MINNESOTA ENTERPRISE FUNDS COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION December 31, 1984 With Comparative Totals for Year Ended December 31, 1983 _. Public Totals Liquor Utilities 1984 1983 Sources of working capital: Operations: Net income (loss) for the year $(104,799) $ 757,659 $652,860 $350,450 _. Items not requiring working capital - depreciation 13,822 292,782 306,604 102,846 Working capital provided by operations (90,977) 1,050,441 959,464 453,296 Contributions from property owners 694,505 694,505 Decrease in long term receivable 16,904 16,904 16,207 Net decrease in restricted assets 75,605 75,605 241_414 Total sources of working capital (90,977) 1,837,455 1,746,478 493,917 Uses of working capital: Acquisition of property and equipment 105,975 736,289 842,264 205,531 Decrease in long term bonds payable 50,000 50,000 50,000 Total uses of working capital 105,975 786,289 892,264 255,531 Increase (decrease) in working capital $(196,952) $1,051,166 $ 854,214 $238,386 Elements of increase (decrease) in working capital: Cash $ 52,716 $ (272,766) $ (220,050) $ 51 ,561 Investments (285,588) 1 ,298,596 1 ,013,008 (43,459) Accounts receivable (61,662) (61 ,662) 144,173 Due from other governments 86,026 86,026 58,558 Inventories 158,196 210 158,406 (11,000) Prepaid expenses 51 ,409 51 ,409 (3,508) Accounts payable (107,033) (42,149) (149,182) 1 ,405 Contracts payable (10,744) (10,744) Salaries payable (1 ,489) 471 (1 ,018) (2,082) Due to other funds 850 Due to other governments (13,754) 1 ,775 (11 ,979) 41 ,888 Increase (decrease) in working capital $(196,952) $1,051,166 $ 854,214 $238,386 97 Exhibit G-4 CITY OF FRIDLEY, MINNESOTA -' LIQUOR ENTERPRISE FUND COMPARATIVE BALANCE SHEET December 31, 1984 and 1983 1984 1983 — Assets Current assets: Cash $ 200,115 $ 147,399 Investments 230,163 515,751 _ Inventories 349,503 191 ,307 Total current assets 779,781 854,457 Property and equipment, at cost: Land 66,961 66,961 Buildings 166,612 130,211 Improvements other than buildings 1 ,469 1 ,469 -- Machinery and equipment 190,531 125,467 425,573 324,108 Less: accumulated depreciation (109,701) (100,389) — Net property and equipment 315,872 223,719 Total assets $1,095,653 $1,078,176 — Liabilities and Fund Equity — Liabilities: Accounts payable $ 192,022 $ 84,989 ._ Salaries payable 4,414 2,925 Due to other governments 19,419 5,665 Total liabilities 215,855 93,579 Fund equity: Retained earnings - unreserved 879,798 984,597 - Total liabilities and fund equity $1,095,653 $1,078,176 98 Exhibit 0-5 CITY OF FRIDLEY, MINNESOTA LIQUOR ENTERPRISE FUND COMPARATIVE STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS Years Ended December 31, 1984 and 1983 1984 1983 Sales and cost of sales: Sales $1,645,005 $1,618,204 Cost of sales 1 ,387,320 1,303,551 Gross profit 257,685 314,653 Operating expenses: Selling: Personal services 133,609 137,132 .- Supplies and other charges 18,300 10,864 Total selling expenses 151,909 147,996 Overhead: Supplies and other charges 61,314 50,802 Depreciation 13,822 14,844 Total overhead expenses 75,136 65,646 Administrative: Personal services 61,567 60,604 Supplies and other charges 31 ,709 13,318 Total administrative expenses 93,276 73,922 -' Total operating expenses 320,321 287,564 Operating income (loss) (62,636) 27,089 Non-operating revenues: Interest on investments 60,870 62,038 Other 16,967 13,258 Total non-operating revenues 77,837 75,296 Income before operating transfers 15,201 102,385 Operating transfer to General Fund (120,000) (150,000) Net income (loss) (104,799) (47,615) Retained earnings January 1 984,597 1,032,212 Retained earnings December 31 $ 879,798 $ 984,597 99 Exhibit a-6 -' CITY OF FRIDLEY, MINNESOTA LIQUOR ENTERPRISE FUND COMPARATIVE STATEMENT OF CHANGES IN FINANCIAL POSITION — Years Ended December 31, 1984 and 1983 1984 1983 Sources of working capital: _ Operations: Net income (loss) for the year $(104,799) $ (47,615) Items not requiring working _ capital - depreciation 13,822 14,844 Total sources of working capital (90,977) (32,771) Uses of working capital: Acquisition of property and equipment 105,975 469 Increase (decrease) in working capital $(196,952) $ (33,240) Elements of increase (decrease) in working capital: Cash $ 52,716 $ 82,828 _ Investments (285,588) (115,091 ) Inventories 158,196 (11 ,848) Accounts payable (107,033) 7,688 _ Salaries payable (1 ,489) (322) Due to other governments (13,754) 3,505 Increase (decrease) in working capital $(196,952) $ (33,240) 100 Exhibit 0-7 CITY OF FRIDLEY, MINNESOTA PUBLIC UTILITY ENTERPRISE FUND COMPARATIVE BALANCE SHEET December 31, 1984 and 1983 1984 1983 Assets Current assets: Cash $ 31 ,858 $ 304,624 Investments 3,879,315 2,580,719 Accounts receivable 476,922 538,584 Due from other governments 157,895 71 ,869 Inventories 4,192 3,982 Prepaid expense 124,810 73,401_ Total current assets 4,674,992 3,573,179. - Long-term receivable - Metropolitan Waste Control Commission 334,662 351,566 Restricted assets: Cash 23,806 Investments, at cost 64,243 163,654 Total restricted assets 88,049 163,654 Property and equipment, at cost: Land 154,881 154,881 Buildings 824,078 817,678 Improvements other than buildings 233,827 226,611 Machinery and equipment 2,075,428 2,049,660 Water and sewer lines 10,861 ,185 10,166,680 14,149,399 13,415,510 Less: accumulated depreciation (1 ,930,965) (1 ,640,583) Net property and equipment 12,218,434 11,774,927 Total assets 17,316,137 $15,863,326 Liabilities and Fund Equity Current liabilities: Accounts payable $ 75,219 $ 33,070 Contracts payable 10,744 Salaries payable 4,986 5,457 Due to other governments 1 ,528 3,303 Bonds payable 50,000 50,000 Total current liabilities 142,477 91,830 Long term liabilities: _ Bonds payable (net of current portion) 120,000 170,000 Total liabilities 262,477 261,830 Fund equity: - Contributed capital 10,861,185 10,166,680 Retained earnings - unreserved 6,192,475 5,434,816 _ Total fund equity 17,053,660 15,601,496 Total liabilities and fund equity $17,316,137 $15,863,326 101 Exhibit G-8 CITY OF FRIDLEY, MINNESOTA -- PUBLIC UTILITY ENTERPRISE FUND COMPARATIVE STATEMENT OF REVENUES, EXPENSES AND CHARGES II RETAINED EARININGS "' Years Ended December 31, 1984 and 1983 1984 1983 Operating revenues: — Water sales and sewer rents $2,060,966 $1,837,000 Other 340,240 91 ,973 Total operating revenues 2,401,206 1,928,973 — Operating expenses: Personal services 475,669 480,237 — Supplies and other charges - Disposal charges 750,547 867,269 Other 524,655 415,458 Depreciation 292,782 88,002 -' Total operating expenses 2,043,653 1,850,966 Operating income 357,553 78,007 Non-operating revenues (expenses): Intergovernmental revenue - local grant 2,250 3,090 — Interest on investments 393,214 311 ,800 Debt service (6,907) (8,659) Other 800 765 Total non-operating revenues (expenses) 389,357 306,996 Income before operating transfers 746,910 385,003 Operating transfers from (to): Special .Assessment Fund (13,057) — Revolving Fund 23,806 13,062 Total operating transfers 10,749 13,062 Net income 757,659 398,065 Retained earnings January 1 5,434816 5,036,751 Retained earnings December 31 $6,192,475 $5,434,816 102 Exhibit 0-9 CITY OF FRIDLEY, MINNESOTA PUBLIC UTILITY ENTERPRISE FUND COMPARATIVE STATEMENT OF CHANGES N FINANCIAL POSITION Years Ended December 31, 1984 and 1983 1984 1983 Sources of working capital: Operations: Net income for the year $ 757,659 $398,065 Items not requiring working capital - depreciation 292,782 88,002 Working capital provided by operations 1,050,441 486,067 Contributions from property owners 694,505 Decrease in long term receivable 16,904 16,207 Net decrease in restricted assets 75,605 24,414 Total sources of working capital 1,837,455 526,688 Uses of working capital: Acquisition of property and equipment 736,289 205,062 Decrease in long term revenue bonds payable 50,000 50,000 Total uses of working capital 786,289 255,062 Increase in working capital $1,051,166 $271,626 Elements of increase (decrease) in working capital: Cash $ (272,766) $(31 ,267) Investments 1 ,298,596 71 ,632 Receivables (61,662) 144,173 Due from other governments 86,026 58,558 Inventories 210 848 Prepaid expenses 51 ,409 (3,508) Accounts payable (42,149) (6,283) Contracts payable (10,744) Salaries payable 471 (1,760) Due to other funds 850 Due to other governments 1 ,775 38,383 Increase in working capital $1,051,166 $271,626 103 INTERNAL SERVICE FUNDS Internal Service Funds are used to account for goods and services that are provided on a cost reimbursement or fee basis to departments or agencies within the City. These funds are essential for segregating costs for determining the total cost of providing a service and for assuring that the goods and services provided are properly utilized. These funds are accounted for on a capital maintenance measurement focus and use the accrual basis of accounting. Employee Benefits Fund This fund is used to account for the expenses associated with providing fringe benefits for the City of Fridley employees. Management Information Services Fund This fund is used to account for all revenues and expenses associated with the City-operated computerized information system that handles the information processing needs of the City. "- Exhibit H-1 CITY OF FRIDLEY, MINNESOTA INTERNAL SERVICE FUNDS COMBINING BALANCE SHEET December 31, 1984 With Comparative Totals for Year Ended December 31, 1983 Management Employee Information Totals Benefits Services 1984 1983 Assets Current assets: - Cash $ 13,446 $ 41 ,450 $ 54,896 $ 137,630 Investments 1 ,054,634 1 ,054,634 894,109 Total current assets 1,068,080 41,450 1,109,530 1,031,739 - Property and equipment, at cost: Property and equipment 155,467 155,467 78,917 Less: accumulated depreciation (28,763) (28,763) (5,558) - Net property and equipment -0- 126,704 126,704 73,359 Total assets $1,068,080 $168,154 $1,236,234 $1,105,098 Liabilities and Fund Equity Current liabilities: Accounts payable $ $ 37,570 $ 37,570 $ 39,655 Leave payable 90,058 Due to other funds 25,000 25,000 25,000 Due to other governments 7,729 7,729 4,213 Total current liabilities 7,729 62,570 70,299 158,926 Long term liabilities: Advance from Capital Improvement Fund (net of current portion) -0- 75,000 75,000 100,000 Total liabilities 7,729 137,570 145,299 258,926 Fund equity: Retained earnings - - Reserved 1 ,060,351 57,510 1,117,861 889,300 Unreserved . (26,926) (26,926) (43,128) Total fund equity 1,060,351 30,584 1,090,935 846,172 Total liabilities and fund equity $1,068,080 $168,154 $1,236,234 $1,105,098 105 Exhibit H-2 CITY OF FRIDLEY, MINNESOTA INTERNAL SERVICE FUNDS COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS Year Ended December 31, 1981 With Comparative Totals for Year Ended December 31, 1983 - Management Employee Information Totals - Benefits Services 1984 1983 Operating revenues: - Charges for services $ 856,659 $136,718 $ 993,377 $914,959 Operating expenses: - Personal services 586 586 Supplies and other services 112,442 112.442 Benefits payments 685,856 685,856 558,282 Depreciation 23,205 23,205. 5,558 -- Total operating expenses 685,856 136,233 822,089 563,840 Operating income 170,803 485 171,288 351,119 -" Nonoperating revenues (expenses) : Interest income 77,818 77,818 74.470 - Debt service (8,750) (8,750) Other 4,407 4,407 42,423 Total non-operating revenues - (expenses) 77,818 (4,343) 73,475 116,893 Net income 248,621 (3,858) 244,763 468,012 Retained earnings January 1 811,730 34,442 846,172 378,160 Retained earnings December 31 $1,060,351 $ 30,584 $1,090,935 $846,172 - 106 Exhibit H-3 CITY OF FRIDLEY, MINNESOTA INTERNAL SERVICE FUNDS COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION December 31, 1984 With Comparative Totals for Year Ended December 31, 1983 !Management Employee Information Totals Benefits Services 1984 1983 Sources of working capital: Operations: Net income for the year $248,621 $ (3,858) $244,763 $468,012 _ Items not requiring working capital - depreciation 23,205 23,205 5,558 Working capital provided by operations 248,621 19,347 267,968 473,570 Advance due to other funds 100,000 Total sources of working capital 248,621 19,347 267,968 573,570 ... Uses of working capital: Acquisition of property and equipment 76,550 76,550 78,917 Decrease in long term advance from Capital Improvement Fund _ 25,000 25,000 Total uses of working capital -0- 101,550 _ 101,550 78,917 Increase in working capital 8248,621 8(82,203) $166,418 8494,653 Elements of increase (decrease) in working capital: Cash $(76,359) $ (6,375) $(82,734) $ 24,037 Investments 238,438 (77,913) 160,525 429,445 Accounts payable 2,085 2,085 (39,655) Leave payable 90,058 90,058 82,039 Due to other funds (25,000) Due to other governments (3,516) (3,516) 23,787 Increase in working capital $248,621 8(82,203) $166,418 $494,653 107 Exhibit H-4 CITY OF FRIDLEY, MINNESOTA EMPLOYEE BENEFITS INTERNAL SERVICE FUND COMPARATIVE BALANCE SHEET -- December 31, 1984 and 1983 1984 1983 Assets — Cash $ 13,446 $ 89,805 Investments 1 ,054,634 816,196 _ Total assets $1,068,080 $906,001 Liabilities and Fund Equity Liabilities: Leave payable $ $ 90,058 Due to other governments 7,729 4,213 Total liabilities 7,729 94,271 Fund equity: Retained earnings - -" Reserved for employee benefits 1,060,351 811,730 Total liabilities and fund equity $1,068,080 $906,001 .- 108 Exhibit H-5 CITY OF FRIDLEY, MINNESOTA EMPLOYEE,BENEFITS INTERNAL SERVICE FUND COMPARATIVE STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS_ Years Ended December 31, 1984 and 1983 1984 1983 Operating revenues: Charges for services $ 856,659 $874,959 Operating expenses: Benefit payments 685,856 558,282 Operating income 170,803 316,677 Non-operating revenues: Interest income 77,818 74,470 Refunds 42,423 Total non-operating revenues 77,818 116,893 Net income 248,621 433,570 Retained earnings January 1 811,730 378,160 Retained earnings December 31 $1,060,351 $811,730 109 Exhibit H-6 CITY OF FRIDLEY, MINNESOTA EMPLOYEE BENEFITS INTERNAL SERVICE FUND COMPARATIVE STATEMENT OF CHANGES IN FINANCIAL POSITION Years Ended December 31, 1984 and 1983 1984 1983 Sources of working capital: Operations: Net income $248,621 $433,570 Elements of increase (decrease) in working capital: Cash (76,359) $(23,788) — Investments 238,438 351 ,532 Leave payable 90,058 82,039 Due to other governments (3,516) 23,787_ _ Increase in working capital $248,621 $433,570 110 Exhibit H-7 CITY OF FRIDLE1, MINNESOTA MANAGEMENT INFORMATION SERVICES INTERNAL SERVICE FUND COMPARATIVE BALANCE SHEET December 31, 1984 and 1983 1984 1983 Assets Current assets: Cash $ 41 ,450 $ 47,825 Investments 77,913 Total current assets 41,450 125,738 ^, Property and equipment, at cost: Machinery and equipment 155,467 78,917 Less: accumulated depreciation (28,763) (5,558) Net property and equipment 126,704 73,359 Total assets $168,154 $199,097 Liabilities and Fund Equity Current liabilities: Accounts payable $ 37,570 $ 39,655 Due to other funds 25,000 25,000 Total current liabilities 62,570 64,655 Long term liabilities: .. Advance from Capital Improvement Fund (net of current portion) 75,000 100,000 Total liabilities 137,570 164,655 Fund equity: Retained earnings - Reserved for capital outlay 57,510 77,570 Unreserved (26,926) (43,128) Total fund equity 30,581 34,442 Total liabilities and fund equity $168,154 $199,097 111 Exhibit H-8 CITY OF FRIDLEY, MINNESOTA MANAGEMENT INFORMATION SERVICES INTERNAL SERVICE FUND COMPARATIVE STATEMENT OF REVENUES, — EXPENSES AND CHANGES IN RETAINED EARNINGS Years Ended December 31, 1984 and 1983 1984 1983 Operating revenues: Charges for services $136,718 $40,000 Operating expenses: Personal services 586 Supplies and other services 112,442 Depreciation 23,205 5,558 -- Total operating expenses 136,233 5,558 Operating income 485 34,442 — Nonoperating revenues (expenses): Debt service (8,750) — Other 4,407 Total nonoperating revenues (expenses) (4,343) -0- Net income (3,858) 34,442 Retained earnings January 1 34,442 -0- — Retained earnings December 31 $ 30,584 $34,442 112 Exhibit H-9 CITY OF FRIDLEY, MINNESOTA MANAGEMENT INFORMATION SERVICES INTERNAL SERVICE FUND COMPARATIVE STATEMENT OF CHANGES IN FINANCIAL POSITION Years Ended December 31, 1984 and 1983 1984 1983 Sources of working capital: Operations: Net income for the year $ (3,858) $ 34,442 Items not requiring working capital - depreciation 23,205 5,558 Working capital provided by operations 19,347 40,000 Advance due to other funds 100,000 Total sources of working capital 19,347 140,000 Uses of working capital: Acquisition of property and equipment 76,550 78,917 Decrease in long term advance from Capital Improvement Fund 25,000 Total uses of working capital 101,550 78,917 Increase (decrease) in working capital $(82,203) $ 61,083 Elements of increase (decrease) in working capital: Cash $ (6,375) $ 47,825 Investments (77,913) 77,913 Accounts payable 2,085 (39,655) Due to other funds (25,000) Increase (decrease) in working capital $(82,203) $ 61,083 1 13 TRUST AND AGENCY FUNDS Trust and Agency Funds are used to account for assets held by a government in a trustee or agent capacity for individuals, private organizations, other governments or other funds. The City of Fridley maintains only one Expendable Trust Fund that is used to defray the city adminstrative cost associated with the issuance of industrial revenue development bonds. Exhibit 1-1 CITY OF FRIDLEY, MINNESOTA TRUST AND AGENCY FUND COMPARATIVE BALANCE SHEET December 31, 1984 and 1983 1984 1983 ._ Assets Cash $ $ 2,384 Investments 20,437 21 ,211 Total assets $20,437 $ 23,595 Liabilities and Fund Balance Liabilities: Accounts payable $ $ 160 Deposits payable 14,430 21 ,153 Total liabilities 14,430 21,313 Fund balance: Unreserved - undesignated 6,007 2,282 Total liabilities and fund balance $20,437 $ 23,595 115 Exhibit 1-2 -- CITY OF FRIDLEY, MINNESOTA TRUST AND AGENCY FUND COMPARATIVE STATEMENT OF REVENUES, EXPENDITURES AND —, CHANGES III FUND BALANCE Years Ended December 31, 1984 and 1983 1984 1983 Revenues: Interest on investments $3,725 $2,112 Fund balance, January 1 2,282 170 Fund balance, December 31 $6,007 $2,282 116 I GENERAL FIXED ASSET ACCOUNT GROUP The General Fixed Asset Account Group is set up to account for long-lived assets not accounted for in an enterprise, trust or internal service fund. Exhibit J-1 CITY OF FRIDLEY, MINNESOTA COMPARATIVE STATEMENT OF GENERAL FIXED ASSETS - BY SOURCES December 31, 1984 and 1983 1984 1983 General fixed assets: Land $ 1 ,632,207 $ 1 ,516,153 Building 1 ,766,372 1 ,642,995 Improvements other than building 16,236,688 14,623,475 Machinery and equipment 2,064,165 1 ,838,596 Construction in progress 1 ,133,047 1 ,7721781 Total general fixed assets $22,832,479 $21,394,000 wm Investment in general fixed assets from: General obligation bonds $ 856,597 $ 856,597 Federal and state aid 1 ,594,128 794,052 General fund revenues 4,970,1499 5,230,182 Special revenue fund revenues 1 ,438 1 ,438 Special assessments 14,046,266 13,301 ,252 Private gifts 730,628 684,285 Other sources 632,923. 526,1914 Total investment in general fixed assets $22,832, 479 $21,394,000 117 Exhibit J-2 -- CITY OF FRIDLEY, MINNESOTA - SCHEDULE OF GENERAL FIXED ASSETS BY FUNCTION AND ACTIVITY December 31, 1984 - Improvements Machinery - Other than and Total Land Buildings Buildings Equipment Function and activity General government - City manager $ 39,150 $ $ $ $ 39,150 Accounting 71 ,061 71 ,061 Assessing 7,080 7,080 Elections 18,658 18,658 - Planning 12,333 12,333 Civic center 688,140 17,496 601 ,185 26,175 43,284 Total general government 836,422 17,496 601,185 26,175 191,566 Public safety Police protection 277,859 200 277,659 --Fire protection 511 ,870 142,532 369,338 Inspectional services 13,480 13,480 Civil defense 27,192 27,192 Total public safety 830,401 -0- 142,732 -0- 687,669 - Public works Engineering 51 ,230 51 ,230 - Street improvements 9,707,614 5,764 9,701 ,850 Storm sewer 4,972,736 4,972,736 Traffic signal 138,243 138,243 - City garage 1 ,097,146 97,940 345,736 8,780 644,690 Total public works 15,966,969 103,704 345,736 14,821,609 695,920 Parks/Naturalist Parks 3,237,619 1 ,204,949 240,551 1 ,327,034 465,085 Naturalist 828,021 306,058 436,168 61 ,8L0 23,925 Total parks/naturalist 4,065,640 11511,003 676,719 1,388,904 489,010 - Total general fixed assets allocated to functions 21,699,432 $1,632,207 $1,766,372 $16,2361688 $2,064,165 - Construction in progress 1,133,047 Total fixed assets $22,832,479 118 - Exhibit J-3 CITY OF FRIDLEY, MINNESOTA SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS - BY FUNCTION AND ACTIVITY _ Year Ended December 31, 1984 - General General Fixed Fixed Assets Assets - 1/1/84 Additions Deductions 12/31/84 Function and activity General government City manager $ 35,638 $ 3,611 $ 99 $ 39,150 Accounting 77,809 2,570 9,318 71 ,061 Assessing 7,080 7,080 Elections 18,658 18,658 Planning 12,333 12,333 - Civic center 689,109 398 1 ,367 688,140 Total general government 840,627 6,579 10,784 836,422 - Public safety Public protection 205,331 90,191 17,663 277,859 Fire protection 504,278 8,348 756 511 ,870 - Inspectional services 17,044 3,564 13,480 Civil defense 27,192 27,192 Total public safety 753,845 98,539 21,983 830,401 ▪ Public works Engineering 45,769 14,290 8,829 51 ,230 Street improvements 8,168,566 1 ,539,048 9,707,614 - Water, sewer and storm sewer 5,467,416 43,816 538,496 4,972,736 Traffic signal 126,455 11 ,788 138,243 City garage 1 ,010,736 128,558 42,148 1 ,097,146 - Total public works 14,818,942 1,737,500 589,473 15,966,969 Parks/Naturalist - Parks 2,382,334 874,880 19,595 3,237,619 Naturalist 825,471 2,550 828,021 Total parks/naturalist 3,207,805 877,430 19,595 4,065,640 • Construction in progress 1,772,781 1,645,628 2,285,362 1,133,047 Total general fixed assets $21,394,000 $4,365,676 $2,927,197 $22,832,479 119 GENERAL LONG TERM DEBT ACCOUNT GROUP The General Long Term Debt Account Group is set up to account for unmatured principal and bonds , warrants , notes , or other forms of long term indebtedness that is secured by the full faith and credit of the City and is not deemed the primary obligation of any specific special assessment or enterprise fund of the City. '- Exhibit K-1 CITY OF FRIDLEY, MINNESOTA COMPARATIVE STATEMENT OF GENERAL LONG-TERM DEBT December 31, 1984 and 1983 1984 1983 Amount available and to be provided for the payment of general long-term debt Amount available in Debt Service Fund $ 546,670 $ 652,976 Amount to be provided by future taxes 2,898,330 2,877,024 Total available and to be provided $3,445,000 $3,530,000 General long-term debt payable General long-term debt payable: General obligation tax increment redevelopment bonds $3,375,000 $3,425,000 Civic center bonds 70,000 105,000 Total general long-term debt payable $3,445,000 $3,530,000 121 STATISTICAL SECTION OEM .. JIMt TWA* 1 CITY OF FRIDLEY, MINNESOTA GENERAL GOVERNMENTAL EXPENDITURES BY FUNCTION (1) LAST TEM FISCAL YEARS Fiscal General Public Civic Public Parks and Debt Year Goverment Safety Center Works Recreation Service Total 1975 $436,032 $1,016,774 $ 77,753 $ 755,904 $ 582,982 $ $2,869,445 1976 476,286 1 ,146,181 80,067 879,626 699,304 3,281 ,464 1977 484,663 1 ,239,730 109,647 928,742 839,151 3,601,933 1978 572,381 1 ,446,302 102,444 1 ,028,594 822,095 3,971,816 1979 581 ,800 1 ,495,493 103,387 1 ,056,758 909,317 38,561 4,185,316 -• 1980 618,215 1 ,737,883 128,795 1 ,111,066 839,271 53,569 4,488,799 1981 725,095 1 ,994,788 137,976 1 ,430,657 1 ,087,811 52,545 5,428,872 1982 829,434 1 ,939,996 115,893 1 ,321 ,993 911 ,141 232,793 5,351 ,250 1983 796,799 2,148,834 156,708 1 ,881 ,666(2) 442,703(2) 325,707 5,752,417 1984 850,963 2,201,155 149,332 2,054,223(2) 442,917(2) 386,140 6,084,730 Note (1) Includes General, Special Revenue and Debt Service Funds (2) Parks Maintenance activity is now under Public Works 123 Tsbi• 2 - CITY OF FRIDLEY, MINNESOTA GENERAL REVENUES BY SOURCE (1) LAST TEN FISCAL YEARS - Inter- Charges - General Licenses, govern- For Fiscal Property Permits mental Current Miscellaneous Total Year Tax and Fines Revenue Services Revenue Revenue - 1975 $1 ,619,966 $174,630 $ 648,872 $ 59,936 $ 115,753 $2,619,157 1976 1 ,762,205 210,904 811 ,406 63,200 179,736 3,027,451 - 1977 1 ,703,364 270,409 1 ,346,412 99,755 235,752 3,655,692 1978 1 ,846,370 265,657 1 ,576,630 104,069 285,311 4,078,037 1979 1 ,948,751 303,639 1 ,646,918 103,267 400,317 4,402,892 - 1980 1 ,974,874 229,148 2,659,608 108,547 558,006 5,530,183 1981 2,115.674 233,901 3,040,678 129,887 684,794 6,204,934 - 1982 2,725,738 360,949 2,238,358 145,551 937,761 6,408,357 1983 2,794,763 320,964 2,994,968 131 ,018 943,014 7,184,727 1984 2.851 ,420 411 ,054 3,386,532 145,394 1 ,181 ,901 7,976,301 - Note (1) Includes General, Special Revenue and Debt Service Funds 124 Table 3 CITY OF FRIDLEY, MINNESOTA CERTIFIED PROPERTY TAX LEVIES AND COLLECTIONS (1) LAST TEN FISCAL YEARS — Collections Percentage Collection Of Current of Levy of Prior Certified Year's Taxes Collected Years' Taxes Ratio — Fiscal Tax levy During During During of Total Year For Fiscal Fiscal Fiscal Fiscal Total Collections Collected Period Period(2) Period Period _ Collections to Tax Levy 1975 $1,662,544 $1 ,629,395 98.01 $29,767 $1,659,162 .9980:1 1976 1 ,854,061 1 ,812,739 97.77 32,401 1 ,845,140 .9952:1 1977 2,057,083 2,033,169 98.84 39,505 2,072,674 1 .0076:1 .. 1978 2,199,318 2,177,318 99.00 48,922 2,226,240 1 .0122:1 1979 2,348,124 2,318,648 98.74 41 ,503 2,360,151 1 .0051 :1 1980 2,512,176 2,461,402 97.98 46,345 2,507,747 .9982:1 1981 2,767,955 2,502,610 90.41 49,166 2,551 ,776 .9219:1 1982 2,920,626 2,777,691 95.11 21 ,771 2,799,462 .9585:1 .. 1983 3,151 ,324 3,086,799 97.95 54,674 3,141 ,473 .9969:1 1984 3,152,952 3,049,773 96.72 45,490 3,095,263 .9817:1 — Note (1) Includes General Fund, Capital Improvement Fund and Debt Service Fund (2) Includes Homestead Credit 125 CITY OF FRIDLEY, MINNESOTA ASSESSED AND ESTIMATED MARKET VALUE OF ALL TAXABLE PROPERTY LAST TEN FISCAL YEARS -- Fiscal Year Payable 1975(2) 1976 1977 1978 Assessment Year 1974 1975 1976 1977 — Population, fiscal year 32,486 31 ,570 31 ,940 33,450 Real property: Estimated market value $325,394,031 $367,264,013 $405,285,288 $456,038,596 Assessor's limited market value $288,949,935 $327,232,236 $363,541 ,172 $408,865,261 Assessed value - Homestead $ 17,104,208 $ 17,644,329 $ 19,607,606 $ 20,453,732 Excess and non-homestead 90,832,944 105,665,396 117,424,505 124,640,289 — Less area wide net allocation (3,140,753) (4,541 ,034) (4,812,211) (6,271 ,738) Less tax-increment value Assessed value (taxable) $104,796,399 $118,768,691 $132,219,900 $138,822,283 Personal property: — Estimated market value $ 18,183,599 $ 18,073,064 $ 18,167,447 $ 19,340,803 Assessor's limited market value $ 16,147,000 $ 16,103,100 $ 16,296,200 $ 17,348,700 — Assessed value (taxable) $ 6,943,210 $ 6,924,333 $ 7,007,366 $ 7,459,941 Totals: Estimated market value $343,577,630 $385,337,077 $423,452,735 $475,379,399 Assessor's limited market value $305,096,935 $343,335,336 $379,837,372 $426,213,961 — Assessed value (taxable) $111 ,739,609 $125,693,024 $139,227,266 $146,282,224 Per market value ratios Assessor's limited market value .888:1* .891 :1* .897:1* .897:1* Assessed value (taxable) .325:1 .326:1 .329:1 .308:1 Per capita valuations — Estimated market value $ 10,576 $ 12,206 $ 13,258 $ 14,212 Assessed value (taxable) $ 3,440 $ 3,981 $ 4,359 $ 4,373 Notes (1) The Anoka County Auditor's Office determines assessed values on January 2 of each — year pursuant to State Statutes and determines Total Assessed Value (Taxable) . The Total Assessed Value (Taxable) on January 2, 1983 upon which the 1984 levy was based was $219.283,235. — (2) Property values include the net amount allocated pursuant to Laws of 1971 , Extra Session, Chapter 23, from the Fiscal Disparities Area-wide "Pool". Beginning with taxes collectable in 1975, the value on which the City of Fridley's mill rate is calculated, — is not the City's assessed value but a taxable value based on the City of Fridley' s assessed value less the net loss to the Fiscal Disparities Metro Tax Pool. 126 Tabl• 4 1979 1980 1981 1982 (4) 1983 1984 1978 1979 1980 1981 _ 1982 _ 1983 32,644 30,228 30,200 29,920 29,810 29,750 $474,610,022 $555,096,298 $632,523,959 $723,016,622 $776,074,092 $802,1801000 — $458,973,683 $522,308,032 $ N/A (3) $ N/A (3) $ N/A (3)' $ N/A (3) $ 21 ,633,558 $ 24,392,539 $ 59,013,036 $ 65,308,228 $ 94,445,737 $ 94,707,547 134,204,943 141 ,946,084 121 ,924,290 142,031 ,048 126,066,013 129,931 ,205 (7,376,217) (8,858,508) (10,022,598) (9,340,006) (13,120,471) (11 ,732,970) (954,050) (2,708,711) (2,892,948) (3,951 ,300) (2,765,895) 0148,462,284 $156,526,065 $168,206,017 $195,106:322 $203,439,979 $210,139,887 $ 17,424,500 $ 17,899,900 $ 18,731 ,800 $ 19,328,4100 $ 19,741 ,300 $ 21,263,600 $ N/A (5) $ N/A (5) $ N/A (5) $ N/A (5) $ N/A (5) $ N/A (5) $ 7,492,535 $ 7,696,957 $ 8,054,674 $ 8,311,212 $ 8,488,759 $ 9,143,348 $492,034,522 $572,996,198 $651 ,255,759 $742,345,022 $795,815,392 $823 443,600 $458,973,683 $522,308,032 $ N/A (3) $ N/A (3) $ N/A (3) $ N/A (3) $155,954,819 $164,223,022 $176,260,691 $203,417,534 $211 ,928,738 $219,283,235 .968:1 .943:1 _ N/A (3) N/A (3) N/A (3) N/A (3) .317:1 .287:1 .271 :1 .274:1 .266:1 .266:1 $ 15,073 $ 18,956 $ 21 ,565 $ 24,811 $ 26,696 $ 27,679 $ 4,777 $ 5,433 $ 5,836 $ 6,799 $ 7,109 $ 7,371 .. (3) In 1980, Limited Market Value was omitted as a consideration in determining taxable value. _ (4) Real property estimated market value includes $8, 174,200 of new value from railroad operating property brought onto the tax roles. (5) Beginning in Fiscal Year Payable 1979, the Assessor' s value for Assessment -- Year 1978 was discontinued and is no longer available. *Source - State of Minnesota Department of Revenue 127 CITY OF FRIDLEY, MINNESOTA — STATEMENT OF VALUATIONS AND LEVIES BY CLASSES OF PROPERTY DECKER 31, 1984 _ Assessed Valuation Assessed — Before Valuation Assessed Contribution Contribution Value Class of to Metro Tax to Metro Tax Received from _ Property Pool Pool Metro Tax Pool Commercial $ 33,809,513 $ (8,943,856) _ Industrial 63,508,644 (15,448,480) F. M. C. #85 4,467,356 (1 ,382,232) — Gas 1 ,257,363 (406,539) Electric 3,418,629 (785,975) Public utilities* 447,504 (135,513) — Vacant land, residential 1 ,823,120 Apartments 22,016,148 — Residential 103,033,823 Distribution (1) $15,369,625 Commercial $233,782,100 $(27,102,595) $15,369,625 Notes *Real Estate and Machinery (1) This represents the "assessed value" distributed to Fridley from the metro tax pool. The assessed value for the first six classes of property shown above has been reduced for local taxable value to 88.41% of the actual assessed value. This taxable value is multiplied by the applicable local mill rates. The remaining 11 .59% of assessed value is multiplied by the -" Metro Mill Rate of 101.727 mills. This money goes into the Metro Pool. The City of Fridley received $229,130 from this pool in 1984. 128 Assessed Valuation Dollars of Allocated to Adjusted Percent Certified Tax Increment Assessed of Total City Tax Financing Value City Tax Levy $ (259,994) $ 24,605,663 11.22 $ 353,761 48,060,164 21 .92 691 ,127 3,085,124 1 .41 44,457 850,824 0.39 12,297 2,632,654 1.20 37,835 311 ,991 0.14 4,414 (22,127) 1,800,993 0.82 25,854 (2,433,988) 19,582,160 8.93 281 ,559 (49,786) 102,984,037 46.96 1 ,480,626 15,369,625 7.01 221 ,022 $(2,765,895) 4219,283,235 100.00 #3,152,952 The tax shown for Residential is the total amount received by the City. Owners of Homestead Residential properties do not pay this full amount. The State pays up to $650 per homestead in credit. _ An additional refund may be received by the taxpayer from the State depending on income, age and amount of real estate tax for their homestead property. 129 CITY OF FRIDLEY, MINNESOTA — SIGNIFICANT MINNESOTA TAX POLICIES DECEMBER 31, 1984 GENERAL All non-exempt property in Minnesota is subject to taxation by local taxing districts. The tax levied on a property is determined by multiplying its assessed value by the tax rate. The tax rate (mills) is determined by the County Auditor, dividing each tax levy by the assessed valuation (taxable value). Properties are physically reviewed by assessors at least once every four years. The Minnesota Department of Revenue analyzes sales of properties annually, -- comparing sale prices with the Local Assessors Value. This establishes a sales ratio. The sales ratio is also used in determining municipal and school district state aids. The Assessors Market Value is multiplied by the appropriate percentage to arrive at assessed value. This percentage varies by class of property. Residential homestead property. Part of the market value said to be "homestead" ($30,000 for taxes due in 1984) is assessed at 17%, the next 30,000 assessed at 19%, and the balance at 20%. The assessed value of a — homestead residence with a market value of $60,000 would be $10,800 for taxes collectible in 1984 (see "Homestead Credit" note below). Residential non-homestead property of 1-2-or-3 units is assessed at 28% of its market value. The assessed value of a non-homestead residence (rental property) with a MV of $50,000 is $14,000. Apartments of 4 units or more are assessed at 34% ($50,000 value x 34% = $17,000). Industrial/commercial/utility property is assessed at 40% of the first $50,000 of estimated market value, and 43% of balance. Market value of utilities is computed by the Minnesota Department of Revenue. HOMESTEAD CREDIT Homestead taxes are reduced by a 54% credit (maximum $650) . This credit is subtracted on the tax statement, and the taxpayer pays only the net amount; homestead credits are reimbursed by the State to the taxing districts in proportion to their levies, thus relieving the property tax burden. — Property tax refund. Further residential property tax credits are gauged by percentages of the net property tax to household income: To the extent a ._ homeowners income ( 1% for lower income groups, up to 4% for incomes of $40,000) homeowners or renters may receive State credits up to $1 ,775 (combined homestead and income-adjusted credits). 130 CITY OF FRIDLEY, MINNESOTA PROPERTY TAX RATES PER $1,000 OF ASSESSED VALUE AND CALCULATED TAX LEVIES ALL OVERLAPPING GOVERNMENTS _ LAST TEN FISCAL YEARS Property Tax Rates _ School School School School District District District District - Fiscal City No. 11 No. 13 No. 14 No. 16* County Year (Mills) (Mills) (Mills) (Mills) (Mills) _ (Mills) 1975 14.88 60.19 54.12 60.33 66.05 22.22 1976 14.76 55.27 49.16 55.18 61.60 22.16 1977 14.78 58.40 47.26 54.65 63.62 22.21 _ 1978 15.05 55.84 46.53 54.26 61.68 24.40 1979 15.06 47.71 45.04 47.17 62.25 24.29 1980 15.31 43.21 46.73 45.08 61.83 25.84 1981 15.72 38.00 41 .48 41 .12 51 .08 27.91 - 1982 14.278 46.847 48.266 46.365 65.542 26.113 1983 14.908 45.474 50.156 55.679 62.837 26.594 1984 14.340 55.225 56.227 60.332 63.739 26.088 - *Vocational/Technical District No. 916 included in District No. 16 beginning in 1975. **No Water Shed Special District in School District No. 11. Calculated Tax Levies School School School School - Fiscal District District District District Year City No. 11 No. 13 No. 14 No. 16* County 1975 $1 ,662,685 $268,717 $1 ,414,161 $3,417,636 $1 ,617,961 $2,482.854 1976 1 ,855.229 300.800 1 ,403,823 3,537,777 1 ,698,993 2,785,357 1977 2,057,083 360,242 1 ,499,855 3,863,402 1 ,948,613 3,092,238 1978 2,199.318 355.565 1 ,568,135 3,987,358 2,017,736 3,569.286 1979 2,348,124 330,743 1 ,634,858 3,668,695 2,204,204 3,788,253 1980 2.512.176 319,712 1 ,786,183 3,606,461 2,395,401 4.235.650 - 1981 2.768,111 296,393 1 ,795,295 3,493,129 2,144,854 4.904.234 1982 2.920.793 447,988 2,383,069 4,412,574 3,130,401 5.332.248 1983 3,151 ,553 461,623 2,597,543 5,576,373 3,052,396 5,630,016 _ 1984 3,153,251 563,791 2,960,066 6,228,287 3,310,710 5.728,438 •Vocational/Technical District #916 included in District No. 16 beginning in 1975. 132 UM* 6 Totals Total School School School School '~ Special District District District District Districts No. 11** No. 13 No. 14 No. 16* (Mills) (Mills) _ (Mills) _(Mills) (Mills) 4.77 102.06 95.99 102.20 107.92 3.23 95.42 89.31 95.33 101 .75 3.43 98.82 87.68 95.07 104.04 3.14 98.43 89.12 96.85 104.27 3.35 90.41 87.74 89.87 104.95 3.60 87.44 91 .48 89.83 106.58 4.36 85.54 89.47 89.11 99.07 4.057 90.864 92.714 90.813 109.990 4.649 91 .170 96.307 101.830 108.988 -. 4.916 100.336 101.571 105.676 109.083 Net .. Total Total Yearly Contribution Tax Total Special All Local Percentage To Metro Increment Tax Districts Tax Levies Increase Tax Pool Districts Levies $ 520.369 $11 ,384,383 17.00% $ $ $11 ,384,383 380,806 11,962,785 5.08% 11,962,785 '. 454.078 13,275,511 10.97% 13,275.511 426,450 14.123,848 6.39% 14,123,848 470,367 14.445.244 2.28% 922.702 15,367,946 542.080 15,397,663 6.59% 1 ,083,986 85,221 16,566,870 718,810 16,120.826 4.70% 1 ,113,318 193,763 17,427,907 779,684 19,406,757 20.38% 925,052 304.517 20,636,326 924.841 21 ,394,345 10.24% 1 ,402,913 340,539 23,137,797 _. 1 ,044.451 22.988,994 7.45% 1 ,209.389 311 ,160 24,509,543 133 7rW• 7 CITY OF FRIDLEY_, MINNESOTA SPECIAL ASSESSMENT LEVIES ADD COLLECTIONS LAST TEN FISCAL YEARS Total - Outstand- ing Collec- Delin- Collec- Current - Current Current tions to quent tions to and Assess- Assess- Amount Assess- Current Delinquent Fiscal ments meats Due meats Total Levy Assess- Year Due Collected (Percent) Collected Collected (Percent) ments 1975 $953,453 $696,193 73.02 $273,771 $969,964 101.73 $736,530 _ 1976 942,965 767,498 81 .39 223,843 991 ,341 105.13 706,413 1977 918,918 801,584 87.23 168,821 970,405 105.60 655,073 - 1978 777,077 699,145 89.98 288,525 987,670 127.11 439,385 1979 678,501 606,763 89.43 134,352 741 ,115 109.23 379,149 1980 699,330 628,753 89.91 95,451 724,204 103.56 404,012 1981 785,128 755,588 96.24 87,206 842,794 107.34 347,975 1982 946,330 780,838 82.51 65,666 846,504 89.45 432,530 1983 845.916 739,977 87.48 99,458 839,435 99.23 429,947 1984 811 ,722 710,323 87.51 144,614 854,937 105.32 371 ,951 134 CITY OF FRIDLEY, MINNESOTA HISTORY OF CERTIFIED TAX LEVIES AND ACTUAL MILL RATES LAST TEN FISCAL YEARS — 1975 1976 1977 1978 — Certified tax levies General Fund $1 ,624,144 $1 ,769,965 $1 ,974,563 $2,114,917 P.E.R.A. Fund Fire Relief Association Fund Police Pension Association Fund General Debt Service Funds 38,400 37,500 36,600 41 ,000 — Capital Improvement Fund 46,596 45,920 43,401 Total $1,662,544 $1,854,061 $2,057,083 $2,199,318 — Actual mill rate General Fund 14.53 14.09 14.18 14.47 — P.E.R.A. Fund Fire Relief Association Fund Police Pension Association Fund General Debt Service Funds .35 .30 .27 .28 Capital Improvement Fund _ .37 .33 .30 Total 14.88 14.76 14.78 15.05 - Notes — (1) Property values include net amount allocated pursuant to Laws of 1971 , Extra Session, Chapter 23, from Area-Wide "Pool". Beginning with taxes collectable in 1975, the value on which the City of Fridley's mill rate is claculated, is not the City's assessed value but a taxable value based on the City of Fridley' s assessed value and the net addition or reduction from the — Metropolitan Tax Pool. 136 T.W. 8 - 1979 _ 1980 1981 1982 1983 1984 $2,264,856 $2,428,376 $2,684,615 $2,838,504 $3,070,254 $3,071 ,882 39,900 38,800 38,570 37,352 36,300 36,300 43,368 45,000 44,770 44,770 44,770 44,770 - $2,348,124 $2,512,176 $2,767,955 $2,920,626 $3,151,324 $3,152,952 14.52 14.795 15.248 13.877 14.525 13.970 .26 .274 .220 .183 .172 .166 .28 .237 .254 .218 .211 .204 15.06 15.306 15.722 14.278 14.908 14.340 - 137 CITY OF FRIDLEY, MINNESOTA RATIO OF NET GENERAL BONDED DEBT _ TO ASSESSED VALUES AND NET BONDED DEBT PER CAPITA LAST TEN FISCAL YEARS Deduct Total Debt Special Assessed Service Assessment, Fiscal Value Gross Monies Revenue and "^ Year Population (Taxable) Bonded Debt Available BRA Bonds 1975 32,486 $111,739,609 $9,385,000 $44,145 $9,050,000 -- 1976 31 ,570 125,693,024 8,210,000 46,709 7,900,000 1977 31 ,940 139,227,266 6,775,000 50,815 6,490,000 1978 33,450 146,282,224 6,385,000 60,071 6,125,000 1979 32,664 155,954,819 6,545,000 64,383 6,315,000 1980 30,228 164,223,022 6,105,000 69,480 5,905,000 -- 1981 30,200 176,260,691 8,954,000 76,953 8,784,000 1982 29,920 203,417,534 9,160,000 82,255 9,020,000 1983 29,810 211 ,928,738 8,285,000 84,240 8,180,000 1984 29,750 219,283,235 7,470,000 86,709 7,400,000 138 1ab1 9 Percent of Net Bonded Debt to Total Assessed Net General — Net General Value Bonded Debt Bonded Debt (Taxable) Per Capita — $290,855 .26% $8.95 263,291 .21% 8.34 234,185 .17% 7.33 199,929 .14% 5.98 165,617 .11% 5.07 130,520 .08% 4.32 93,047 .05% 3.08 57,745 .03% 1.93 20,760 .01% .70 -0- - - 139 Table 10 CITY OF FRIDLEY, MINNESOTA COMPUTATION OF LEGAL DEBT MARGIN DECEMBER 31, 1984 — Assessed Value $233,782,100 — (A) Debt Limit 6.67% of Assessed Value $15,586,253 Amount of Debt Applicable to Debt Limit: Total Bonded Debt $7,470,000 (B) Deductions: Debt Service Fund fund balance $ 86,709 Tax Incrmement Redevelopment Bonds 3,375,000 Special Assessment Bonds 3,855,000 Water Revenue and Improvement Bonds 170,000 7,486,709 Total Amount of Debt Applicable to Debt Limit -0- — Legal Debt Margin $15,586,253 Notes (A) M.S.A. Section 475.53 (see following page) (B) M.S.A. Section 475.51 (see following page) 140 imm - CITY OF FRIDLEY, MINNESOTA COMPUTATION OF LEGAL DEBT MARGIN (CONTINUED) YEAR ENDED DECEMBER 31, 1984 Note (A): M.S.A. Section 475.53 et seq. Limit on Net Debt "Subdivision 1 . Generally, except as otherwise provided in section 475.51 , _. no municipality, except a school district or a city of the first class, shall incur or be subject to a net debt in excess of 6.67 percent of the assessed value." Note (B): M.S.A. Section 475.51 Definitions "Subdivision 4. "Net Debt" means the amount remaining after deduction from its gross debt the amount of current revenues which are applicable within the current fiscal year to the payment of any debt, and the aggregate of the principal of the following: (1) Obligations issued for improvements which are payable wholly or partly from the proceeds of special assessments levied upon property specially benefited thereby, including those which are general obligations of the municipality issuing them, if the municipality is entitled to reimbursement in whole or in part from the proceeds of the special assessments. NMI (2) Warrants or orders having no definite or fixed maturity. (3) Obligations payable wholly from the income from revenue producing conveniences. (4) Obligations issued to create or maintain a permanent improvement revolving fund. (5) Obligations issued for the acquisition, and betterment of public waterworks systems, and public lighting, heating or power systems, and NMI any combination thereof or for any other public convenience from which a revenue is or may be derived. (6) Debt service loans and capital loans made to a school district under the provisions of sections 124.42 and 124.43. (7) Amount of all money and the face value of all securities held as a debt _. service fund for the extinguishment of obligations other than those deductible under this subdivision. (8) All other obligations which under the provisions of law authorizing their issuance are not to be included in computing the net debt of the municipality." 141 Table 11 — CITY OF FRIDLEY, MINNESOTA COMPUTATION OF DIRECT AND OVERLAPPING BONDED DEBT AND COMPARATIVE DEBT RATIOS DECEMBER 31, 1984 % of Debt % of Debt Net Debt Gross Service Net Applicable Applicable -- Governmental Unit Debt Funds Debt to City to City Direct and overlapping debt — Direct debt: City of Fridley $ 7,470,000 $ 4,233,618 $ 3,236,382 100.00 $ 3,236,382 — Overlapping debt: School Districts No. 11 $ 14,725,000 $ 2,396,992 $ 12,328,008 1 .75 $ 215,740 -- No. 13 1 ,540.000 1 ,268,222 271 ,778 33.77 91 ,779 No. 14 1 ,546,000 798,483 747,517 100.00 747,517 No. 16 10,292,099 3,425,040 6,867,059 43.69 3,000,218 ., Metro Transit 16,500,000 4,026,000 12,474,000 1 .64 204,574 Metro Council 277,775,000 51 ,178,328 226,596,672 1 .51 3,421 ,610 Anoka County 10,265,000 126,153 10,138,847 21 .36 2,165.658 Vocational/Technical District No. 916 3,730,000 344,795 3,385,205 2.37 80,229 Overlapping debt 336,373,099 63,564,013 272,809,086 9,927,325 — Total direct and overlapping debt $343,843,099 $67,797,631 $276,045,468 $13,163,707 — 142 Table 12 CITY OF FRIDLEY, MINNESOTA — RATIO OF ANNUAL DEBT SERVICE EXPENDITURES FOR GENERAL BONDED DEBT TO TOTAL GENERAL GOVERNMENT EXPENDITURES_ LAST TEN FISCAL YEARS — Ratio of Debt Total Total Service to Fiscal Debt General General Year Principal Interest Service Expenditures Expenditures 1975 $25,000 $ 11,885 $ 36,885 $2,899,724 .0127:1 1976 25,000 11,073 36,073 3,281 ,818 .0110:1 1977 25,000 10,247 35,247 3,601 ,933 .0098:1 1978 25,000 9,422 34,422 3,971 ,816 .0087:1 1979 30,000 8,500 38,500 4,280,363 .0090:1 1980 42,725 10,844 53,569 4,488,799 .0119:1 1981 43,743 8,802 52,545 5,428,872 .0097:1 1982 44.845 187,948 232,793 7,193,387 .0324:1 1983 35,000 290,707 325,707 6,204,001 .0525:1 .. 1984 85,000 301,140 386,140 6,688,262 .0577:1 143 Tab'• 13 '- CITY OF FRIDLEY, MINNESOTA REVUE BOND COVERAGE - LAST TEN FISCAL YEARS Net - Operating Revenue Direct Direct Available - Fiscal Operating Operating For Debt Debt Service Requirements Year Revenue Expenses Service Principal Interest Total Coverage 1975 $1 ,169,260 $1 ,000.918 $ 168,342 $ 35.000 $37,425 $ 72,425 2.32 1976 1 ,286,963 1 ,108,130 178,833 96,607 42,660 139,267 1.28 - 1977 1 ,276,196 1 ,139,152 137,044 96,607 35,040 131 ,647 1.04 1978 1 .404.459 1 ,299,988 104.471 101 ,724 30,486 132,210 0.79 - 1979 1 ,394.580 1 ,237,504 157,076 101 ,724 25.781 127,505 1.23 1980 1 ,477,709 1 ,376,970 100,739 106,964 20,957 127,921 0.79 1981 1 ,560,081 1 ,681 ,670 (121 .589) 107,750 16,065 123,815 - 1982 1 ,753,918 1 ,767,818 (13,900) 97,500 11 ,545 109,045 - 1983 1 ,928.973 1 ,850.966 78,007 50,000 8,659 58,659 1 .33 - 1984 2.401 .206 2.043,653 357,553 50,000 6,907 56,907 6.28 144 Mb1l 14 CITY OF FRIDLEY, MINNESOTA '- DEMOGRAPHIC STATISTICS LAST TEN FISCAL YEARS Annual Average — Fiscal Per Capita !Median School Unemployment Year Population (1) Income (3) Age (41) Enrollment (3) Rate (5) (6) .. 1975 32,486 5,667 22.9 8,712 5.2 1976 31 ,570 6,193 25.1 8,339 5.1 1977 31,940 6,721 25.4 7,750 4.0 1978 33,450 6,980 25.9 7,119 2.7 1979 32,664 7,239 26.2 6,666 2.8 1980 30,228 (2) 8,654 (2) 27.4 (2) 6,331 4.4 (2) 1981 30,200 8,700 27.7 (3) 5,915 4.7 — 1982 29,920 8,750 28.0 (3) 5,595 6.6 1983 29,810 9,188 28.3 5,238 7.4 1984 29,750 9,647 28.6 5,007 5.0 Sources: — (1) Estimated by Metropolitan Council (2) Current Population Report - Bureau of the Census (3) Estimated by the City of Fridley Planning Department (4) Sales Market Management Survey of Buying Power (Anoka County) (5) Minnesota Department of Economic Security - Twin Cities Labor Market Information Center (6) Beginning in 1983, Unemployment Rate as reported is area wide for the County of Anoka rather than for the City of Fridley only 145 7bbIN 15 CITY OF FRIDLEY, MINNESOTA CONSTRUCTION, BANK DEPOSITS AND PROPERTY VALUE LAST TEN FISCAL YEARS — Commercial Residential -' Construction Construction Estimated Market Value Number Number Bank (1) Fiscal of of Deposits Taxable Non- — Year Units Value Units Value (Thousands) Property Taxable (2) Total 1975 50 $ 4,683,913 411 $4,680,199 $12,760 $343,577,630 $ 63,489,810 $407,067,440 — 1976 54 6,303,847 442 6,890,745 13,898 385,337,077 63,489,810 448,826,887 1977 58 5,596,312 458 7,755,824 16,585 423,452,735 63,489,810 486,942,545 — 1978 51 5,247,268 385 4,673,528 18,033 475,379,399 63,489,810 538,869,209 1979 47 7,755,397 404 4,107,660 17,885 492,034,522 63,489,810 555,524,332 1980 36 23,922,267 367 2,374,966 18,763 572,996,198 63,489,810 636,486,008 — 1981 32 4,589,180 348 2,809,033 19,399 651 ,255,759 109,749,739 761 ,005,498 1982 60 5,498,098 305 3,012,844 22,875 772,714,552 110,559,039 883,273,591 -- 1983 48 8,921 ,297 348 2,969,417 26,099 795,815,392 109,749,739 905,565,131 1984 67 19,332,432 345 4,388,689 27,917 823,443,600 109,749,739 933,193,339 — Source: (1) Fridley State Bank, Annual Financial Statement — (2) Non-taxable property is reevaluated by the county assessors every six years 146 WA* 16 CITY OF FRIDLEY_, MINNESOTA PRINCIPAL TAXPAYERS '— DECEMBER 314 1984 Fiscal Year 1984 Percent 1983* of Total Assessed Assessed Rank Taxpayer Type of Business Valuation Valuation** 1. Medtronics, Inc. Electro-medical devices $10,798,190 4.62 2. Onan Corporation Portable electric generators 7,382,675 3.16 3. Target Stores Discount store and warehouse 4,865,794 2.08 4. Maurice Fillister Georgetown apartments 2,910,400 1 .24 5. LaMaur, Inc. Cosmetics 2,889,729 1 .24 6. FMC Corporation Naval ordinance 2,321 ,613 0.99 7. Land O'Lakes Coop. Warehousing oil and grain products 2,205,457 0.94 8. Carter-Day Air control equipment 2,041 ,068 0.87 9. Holiday Plus Discount department store 1 ,933,022 0.83 10. Five Sands Development Meadowrun Apartments 1 ,783_,640 0.76 Total $39,131,588 16.73 Notes *The 1983 Assessed Value was used to determine the Taxable Value on January 2, 1983, upon which the 1984 levy was based. **Before contribution to Metropolitan Tax Pool. 147 CITY OF FRIDLEY, MINNESOTA -^ INSURANCE COVERAGE DECEMBER 31, 1984 All risk, direct physical loss coverage Buildings and contents Blanket real and personal property - 90% co-insurance $ 10,495,459 ., (except liquor store and stock) Liquor store 6289 Highway #65 159,938 Personal property (liquor stores) 71 ,020 Boiler insurance 500,000 Contractor's equipment, including miscellaneous property of $170,146 682,677 Signs (neon and city display) 16,148 General liability Bodily injury Each occurence 500,000 Aggregate 500,000 — Property damage Each occurence 100,000 Aggregate 100,000 _, Excess liquor liability Each occurence 500,000 Aggregate 500,000 _ Loss of business income, liquor stores 149,460 Umbrella liability 3,000,000 Automobile liability Bodily injury Each person 250,000 Each occurence 500,000 — Property damage 100,000 Comprehensive and collision Passenger vehicles Actual cash value — Other vehicles Actual cash value Police officers' liability Combined single liability 500,000 — Punitive damages 500,000 Accidental death and dismemberment 10,000 Foundation for the Islands of Peace - Miscellaneous small tools 4,595 Hired and non-owned auto Bodily injury — Each person 250,000 Each occurence 500,000 Property damage 100,000 Money and securities, inside and outside premises: City Hall and Highway #65 liquor store 15,000 Liquor store at 214 Mississippi Street 25,000 Workers' compensation Statutory Public officials' liability 1 ,000,000 PRINCIPAL OFFICIALS' BONDS DECEMBER 31, 1984 Nasim M. Qureshi City Manager $50,000 -- Sidney C. Inman City Clerk 1 ,000 Treasurer 50,000 HRA 50,000 _ All employees are covered by a blanket of faithful performance bond of $100,000. 1 LS CITY OF FRIDLEY, MINNESOTA CITY CAPITAL IMPROVEMENT FINANCING POLICY DECEMBER 31, 1984 The policy of the City of Fridley regarding financing of major capital improvements is as follows: Street, Curb and Gutter, Sidewalk and Storm Sever Improvements It is the policy of the City to assess 100% of the cost of street surfacing, curb and gutter improvements and storm sewer improvements against benefited properties, less aid for construction received from the State of Minnesota. Properties owned by the City, the school districts, or other tax exempt organizations are treated in the same manner and assessed at the same rate as taxable properties. Water and Sever Improvements Water and sewer lateral improvements are 100% assessed against benefited properties. Properties owned by tax exempt organizations are treated the same as taxable properties. The water and sewer main system has been substantially assessed against benefited properties. An exception to the above policy has been the cost of looping certain water system main lines which benefited no particular properties. This unassessed portion of the improvement cost is being financed by the Public Utility Fund. Wells, Reservoirs, Pumping Stations, Etc. These improvements have been financed from the income of the Public Utility Fund. Acquisition of Park Land, Civic Center, Etc. It is the policy of the City to finance small park capital improvements out of the current General Fund operating budget. It is the policy of the City to finance major park capital improvements, such as the purchase of large parcels of land, with general obligation bonds. The City currently has one general obligation bond issue outstanding. This is for the Civic Center. The balance outstanding for this issue on December 31 , 1984 was $70,000. Other Capital Improvements It is the policy of the City to finance capital improvements such as fire trucks and public works equipment, etc. from the current General Fund operating budget. In order to stop fluctuations in the amount budgeted Mat annually for such items, the City started a Capital Improvement Fund in 1976. The total fund balance in this fund on December 31 , 1984 was $1,639,382. The purpose of the fund is to finance capital outlay items normally financed through the General Fund. In 1983, the Capital Improvements Fund made a loan of $125,000 to the Management Information Services Fund to be used for financing the acquisition of computer hardware. Revenue Sharing The General Fund is used as the vehicle for budgeting and expenditure of Revenue Sharing monies. In 1984, 24% of Revenue Sharing funds were used for capital outlay items, 23% for other expenses and 53% for personal services. 149 CITY OF FRIDLEYMINNESOTA MISCELLANEOUS STATISTICAL INFORMATION _ _ DECEMBER 3 ,_ 1984 _-�_- Date of Incorporation (Village of Fridley) July 1 , 1949 Date of Adoption of City Charter September 10, 1957 effective September 25, 1957 Form of Government Council/Manager Fiscal year begins January 1 Area of City 11 square miles Bond rating (Moody's Investors Service, Incorporated) Aa-1 Elections Last Election - Federal Presidential Election November 6, 1984 Registered voters 19,687 Number of votes cast 15,224 — Percent (%) of registered voters voting 77.3% Population -- 1950 Federal Census 3,796 1960 Federal Census 15,182 1965 Federal Census 24,789 1970 Federal Census 29,233 — 1971 Estimated by Metropolitan Council 29,636 1972 Estimated by Metropolitan Council 30,240 1973 Estimated by Metropolitan Council 31 ,143 .� 1974 Estimated by Metropolitan Council 32,542 1975 Estimated by Metropolitan Council 32,486 1976 Estimated by Metropolitan Council 31 ,570 _ 1977 Estimated by Metropolitan Council 31 ,940 1978 Estimated by Metropolitan Council 33,450 1979 Estimated by Metropolitan Council 32,664 1980 Federal Census 30,228 — 1981 Estimated by Metropolitan Council 30,200 1982 Estimated by Metropolitan Council 29,920 1983 Estimated by Metropolitan Council 29,810 _. 1984 Estimated by Metropolitan Council 29,750 Permanent Employees -- As of December 31 Number 1975 130* 1976 129* 1977 148* — 1978 141* 1979 122 1980 126 _, 1981 1�9 1982 1�3 1g83 119 1984 119 *Includes CETA employees 150 CITT OF FRIDLEY, MINNESOTA MISCELLANEOUS STATISTICAL INFORMATION (CONTINUED) DECEMBER 31, 1981 Fire protection Number of stations 1 Volunteer Firefighters 30 Full-time Firefighters 5 Fire rating Class 4 Police protection Number of stations 1 Number of sworn officers 32 Number of street lights 936 Number of traffic signal installations 31 Number of other special signal installations 1 Number of civil defense warning sirens 9 Miles of streets and sidewalks (including State and County) City streets 122.79 Trunk highways 10.80 County roads 14.56 Sidewalks 10.98 Miles of sewer Storm 38.63 Sanitary 100.11 Miles of water mains 104.82 Municipal water system source Primary source City of Fridley Water Plant (13 wells)--Capacity of 15 million gallons per day Secondary source City of Minneapolis .. (Mississippi River)--35 million gallons per day Number of water connections December 31 , 1984 8,015 Connections Daily average consumption (gallons) 4.4 million gallons Elevated storage capacity .5 million gallons Number of fire hydrants 1 ,014 Municipal Sewer System Disposal--through Metropolitan Waste Control Commission Number of connections December 31 , 1984 8,118 Average daily flow (includes infiltration/inflow) 3.13 million gallons 151 CITY OF FRIDLEY, MINNESOTA MISCELLANEOUS STATISTICAL INFORMATION (CONTINUED) DECEMBER 31, 1984 — Parks and Recreation Areas — Developed 425 Acres Undeveloped 125 Acres Total 550 Acres City Parks Schools Total Number of: --Hockey rinks 9 0 9 General skating rinks 22 0 22 Playgrounds 29 9 38 Swimming beaches 1 0 1 — Swimming pools 0 1 1 Picnic grounds 2 0 2 Day camp sites 1 0 1 — Baseball diamonds 5 4 9 Softball diamonds 26 16 42 Outdoor basketball courts 21 13 34 Tennis courts 24 17 41 Horseshoe courts 16 0 16 Archery Ranges 1 0 1 Permanent playground buildings 1 0 1 -- Permanent picnic shelters 7 0 7 Soccer fields 7 0 7 Football fields 8 9 17 — 152 imma CITY OF FRIDLEY, MINNESOTA GENERAL INFORMATION DECEMBER 31, 1984 Location - Transportation The City of Fridley, with a total land area of eleven square miles and an estimated population of 29,750, is located at the northern boundaries of Minneapolis and Columbia Heights, about eight miles from the Minneapolis central business district. Freight service is provided in the area by local and interstate truck lines, Burlington Northern Railroad and Minnesota Transfer Railway. Commuter transportation is available through Metropolitan Transit Commission facilities. Highways serving Fridley include Interstate #694 (beltline around the metropolitan area) and State Highways. An International Airport, located approximately twenty-five miles south of Fridley, and private business aviation facilities located at the Anoka County and Crystal Airports, provide air transportation and are operated by the Metropolitan Airport Commission. Medical Facilities Medical facilities in Fridley include Unity Hospital, a 275-bed hospital with an adjacent clinic (Unity Professional Building) , Fridley Plaza Clinic, Fridley Convalescent Home, the Fridley Medical Center, and Lynwood Manor nursing home. Education Fridley is served by four school districts, a major portion of the City is located within Fridley Independent School District No. 14. The Fridley School District operates two elementary schools, a junior high and senior high school, employing 127 certified personnel in the education of about 2,904 students. Grace Parochial High School has an enrollment of 1 ,045. Portions of the Columbia Heights School District (13) , the Spring Lake Park School District (16) and Anoka/Hennepin School District (11) also lie within the City of Fridley. Those districts have an enrollment of 2,103 students living within the City of Fridley. Colleges and universities, vocational-technical and specialized training schools are located throughout the metropolitan area within easy commuting distances of Fridley. OMNI MEND 153 CITY OF FRIDLEY, MINNESOTA — GENERAL INFORMATION (CONTINUED) DECEMBER 31, 1984 — Larger Employers Larger employers in the City of Fridley include: Employer Product or Service Employees - FMC Corporation Pumps and naval ordinance 3,900 _, Medtronics, Inc. Electro-medical devices and hdqtrs. 2,000 Onan Corporation Portable generators, electronic 1 ,850 equipment Burlington Northern Railroad Northtown Yard 1 ,030 - Target Stores, Warehouse Discount department store 1 ,000 Unity Hospital Medical services 850 Park Construction Commercial Construction 490 —, Kurt Manufacturing Machine parts 450 LaMaur, Inc. Cosmetics 410 Minco Products, Inc. Electronic devices 400 — Carter-Day Company Air control equipment 375 Holiday Plus Discount department store 350 Totino's Finer Foods Frozen foods 250 Independent School District #14 Fridley School District 248 — Safetran Systems Corporation Railroad accessories 225 Barry Blower Marly Corporation Air moving devices 200 Strite-Anderson Manufacturing Aluminum die castings 150 — Webb Printing (under const. ) Printing TV Guide 120 City of Fridley Governmental Entity 119 Longview Fiber Company Packaging supplies 115 Dealers Manufacturing Company Remanufacturing auto parts 110 — Land O'Lakes Cooperatives Warehousing and oil blending plant 110 154