06/23/2017 City of Fridley Summary Financial Report AFFIDAVIT OF PUBLICATION
STATE OF MINNESOTA )ss
COUNTY OF ANOKA
Charlene Vold being duly sworn on an oath,
states or affirms that he/she is the Publisher's
Designated Agent of the newspaper(s)known
as:
SF Columbia Heights/Fridley
with the known office of issue being located
in the county of:
ANOKA
with additional circulation in the counties of:
ANOKA
and has full knowledge of the facts stated
below:
(A)The newspaper has complied with all of
the requirements constituting qualifica-
tion as a qualified newspaper as provided
by Minn. Stat.§331A.02.
(B)This Public Notice was printed and pub-
lished in said newspaper(s) once each
week, for 1 successive week(s); the first
insertion being on 06/23/2017 and the last
insertion being on 06/23/2017.
MORTGAGE FORECLOSURE NOTICES
Pursuant to Minnesota Stat. §580.033
relating to the publication of mortgage
foreclosure notices: The newspaper complies
with the conditions described in §580.033,
subd. 1, clause (1) or(2). If the newspaper's
known office of issue is located in a county
adjoining the county where the mortgaged
premises or some part of the mortgaged
premises described in the notice are located,
a substantial portion of the newspaper's
circulation is in the latter county.
By: ouo� V U
Designated Agent
Subscribed and sworn to or affirmed before
me on 06/23/2017 by Charlene Vold.
Notary Public
IV1AAAA
DARLENE MARIE MACPHERSON
Notary Public-Minnesota
1, V V my Commission Expires Jan 31,2019
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Ad ID 702220
CITY OF FRIDLEY,MINNESOTA
SUMMARY FINANCIAL REPORT
The purpose of this report is to provide a summary of financial information concerning the City of Fridley,Minnesota to interested citizens. The
complete financial statements may be examined at the City Hall,6431 University Ave NE. It can also be found on our website at www.FridleyMN.gov.
Questions about this report should be directed to the Finance Director at(763)572-3520.
REVENUE AND EXPENDITURES FOR GENERAL OPERATIONS
(GOVERNMENTAL FUNDS)
FOR THE YEAR ENDING DECEMBER 31,2016 and 2015
Percent
Increase
Revenues: 2016 2015 (Decrease)
Taxes $12,244,211 $11,805,580 3.72%
Special assessments 865,722 542,248 59.65%
Licenses and permits 1,442,895 1,549,785 -6.90%
Intergovernmental revenue 7,330,338 4,375,972 67.51%
Charges for services 2,592,665 2,374,896 9.17%
Fines and forfeits 212,635 184,940 14.98%
Investment income 254,379 157,281 61.74%
Miscellaneous 887.678 429,713 106.57%
Total revenues __$25,830,523 $21,420,415 20.59%
Per capita 886 764 16.02%
Expenditures:
Current:
General government $3,924,877 $3,777,688 3.90%
Public safety 7,537,051 7,319,564 2.97%
Public works 2,824,319 3,575,252 -21.00%
Community development 942,768 1,081,549 -12.83%
Parks and recreation 1,341,444 1,288,684 4.09%
Debt service 1,345,121 1,350,356 -0.39%
Capital outlay 8,618,369 3.645.425 136.42%
Total Expenditures $26.533.949 $22,038.518 20.40%
Per capita 911 786 15.84%
Total general obligation long-term indebtedness $3,110,000 $4,340,000 -28.34%
Per capita 107 155 -31.05%
Governmental funds unassigned fund balance as of December 31 $9,056,654 $8,815,156 2.74%
Per capita 311 314 -1.15%
CITY OF FRIDLEY,MINNESOTA
STATEMENT OF NET POSITION
PROPRIETARY FUNDS
DECEMBER 31,2016
Assets: Liquor Water Sewer Storm Water Totals
Current assets:
Cash and cash equivalents $169,069 $7,340,404 $1,677,086 $2,024,475 $11,211,034
Accounts receivable - 1,308,402 1,501,021 352,025 3,161,448
Special assessments receivable 15,302 - 23,542 38,844
Due from other governments - 300 4,623 277,780 282,703
Prepaid Items - 343,091 - 343,091
Inventories,at cost 662.581 387,257 1,049.838
Total current assets 831,650 9.051,665 3,525,821 2 677 822 16,086,958
Noncurrent assets:
Capital assets:
Land 151,946 154,531 - - 306,477
Buildings and structures 182,595 3,442,889 8,770 - 3,634,254
Improvements other than buildings 886,327 9,665,662 2,906,353 2,066,534 15,524,876
Machinery and equipment 229,126 2,000,033 986,439 378,921 3,594,519
Infrastructure - 11,810,156 7,289,123 8,270,929 27,370,208
Construction in progress 14.180 1.811 15.991
Total capital assets 1,449,994 27,087,451 11,190,685 10,718,195 50,446,325
Less: Allowance for depreciation (849.452) (15.860.331) (7.700,075) (6.210.935) (30.620.793)
Net capital assets 600,542 11,227,120 3,490,610 4,507,260 19,825,532
Total noncurrent assets 600,542 11,227,120 3,490,610 4 507 260 19,825,532
Total assets 1,432,192 20,278.785 7,016.431 7.185.082 35,912,490
Liabilities:
Current liabilities:
Accounts payable 335,459 161,389 20,951 4,216 522,015
Accrued interest payable - 129,063 5,021 3,766 137,850
Contracts payable - 69,546 - 69,546
Due to other governments 56,091 243,266 338,203 637,560
Salaries payable 10,827 13,236 6,502 9,206 39,771
Unearned Revenue - 2,545,000 30,000 25,000 2,600,000
Bonds payable-current 665 665
Total current liabilities 403,042 3,161,500 400,677 42.188 4,007,407
Noncurrent liabilities:
Other post employment benefits 22,438 34,932 24,535 2,885 84,790
Bonds payable-noncurrent 7,601,935 350 000 260,000 8,211,935
Total noncurrent liabilities 22,438 7,636,867 374 535 262,885 8,296,725
Total liabilities 425.480 10.798.367 775.212 305,073 12.304,132
Net position:
Net invested in capital assets 600,542 5,980,022 3,110,610 4,222,260 13,913,434
Unrestricted 406,170 3,500,396 3 130 609 2,657,749 9 694 924
Total net position $1,006.712 $9.480,418 $6.241.219 $6.880.009 $23,608.358
CONTINUED...
CITY OF FRIDLEY,MINNESOTA
(CONTINUED)SUMMARY FINANCIAL REPORT
CITY OF FRIDLEY,MINNESOTA
STATEMENT OF REVENUES,EXPENSES AND CHANGES IN NET ASSETS
PROPRIETARY FUNDS
FOR THE YEAR ENDED DECEMBER 31,2016
Liquor Water Sewer Storm Water Totals
Sales $5,439,423 $- $- $- $5,439,423
Cost of sales (3,976,342) (3,976 342)
Gross profit 1,463,081 1 463 081
Operating revenues:
Customer billings - 3,315,113 5,298,995 1,324,409 9,938,517
Charges for services 50 - - 50
Other revenues 15,187 51 15,238
Total operating revenues 3 330,350 5,298,995 1 324 460 9,953,805
Total gross profit and operating revenues 1,463,081 3,330,350 5.298,995 1.324,460 11.416,886
Operating expenses:
Personal services 502,985 641,659 327,980 444,384 1,917,008
Supplies and other charges:
Disposal charges - - 3,957,102 - 3,957,102
Other 441,367 1,269,691 436,721 303,845 2,451,624
Depreciation 85,817 824,553 298,194 273,138 1,481,702
Total operating expenses 1,030,169 2.735 903 5,019,997 1 021 367 9,807,436
Operating income(loss) 432.912 594,447 278.998 303,093 1.609,450
Nonoperating revenues(expenses):
Intergovernmental revenue - - 64,644 189,698 254,342
Interest and dividends (1,584) 46,954 14,231 22,406 82,007
Net change in the fair value of investments 66 4,561 3,324 5,755 13,706
Insurance reimbursement - (212,405) (12,125) (9,100) (233,630)
Interest expense - (94,336) - (94,336)
Other 405 1.453 1,858
Total nonoperating revenues(expenses) (1,113) (255,226) 70.074 210.212 23,947
Income i,ss)before transfers 431,799 339,221 349,072 513,305 1,633,397
Transfers and Capital Contributions:
Transfers out (338,500) - - - (338,500)
Capital contributions-intergovernmental
Total transfers and contributions (338,500) - - - (338,500)
Change to net position 93,299 339,221 349,072 513,305 1,294,897
Net position-January 1 913,413 9.141,197 5,892,147 6.366.704 22,313.461
Net position-December 31 $1,006,712 $9,480,418 $6,241,219 $6,880,009 $23.608,358
CITY OF FRIDLEY.MINNESOTA
STATEMENT OF CASH FLOWS
PROPRIETARY FUNDS
FOR THE YEAR ENDED DECEMBER 31,2016
Liquor Water Sewer Storm Water Totals
Cash flows from operating activities:
Receipts from customers and users $5,445,845 $3,156,934 $5,169,349 $1,323,358 $15,095,486
Payment to suppliers (4,480,741) (1,391,546) (4,762,258) (308,181) (10,942,726)
Payment to employees (498,317) (636,360) (325,438) (440,642) (1,900,757)
Operating contributions 405 405
Net cash flows from operating activities 467,192 1,129,028 81 653 574,535 2,252,408
Cash flows from noncapital financing activities:
Operating grants - - 64,644 2.907 67,551
Transfers out (338,500) (338,500)
Net cash flows from noncapital financing activities (338,500) 64,644 2,907 (270,949)
Cash flows from capital and related financing activities
Acquisition of capital assets (95,859) (1,162,008) (48,440) (511,330) (1,817,637)
Capital Grants - - 1,453 1,453
Principal received on special assessments 6,072,714 6,072,714
Insurance reimbursement (555,000) (30,000) (25,000) (610,000)
Principal paid on revenue bonds (154,143) (12,500) (9,412) (176,055)
Interest and paying agent fees on revenue bonds (179.4971 (13,400) (10,163) (203.0601
Net cash flows from capital and related financing activities (95,859) 4,201,563 (90,940) (544,289) 3,470,475
Cash flows from investing activities:
Investment income (1,518) 51,515 17,555 28.161 95,713
Net increase(decrease)in cash and cash equivalents 31,315 5,382,106 72,912 61,314 5,547,647
Cash and cash equivalents-January 1 137,754 1,958,298 1.604.174 1,963.161 5,663,387
Cash and cash equivalents-December 31 $169,069 $7.340,404 $1,677,086 $2,024,475 $11,211,034
Current cash and cash equivalents
Current assets $169,069 $7,340,404 $1,677,086 $2,024,475 $11,211,034
Restricted assets
Total cash and cash equivalents-December 31 $169.069 $7,340.404 $1,677,086 $2,024,475 $11,211,034
Published in the
Columbia Hgt-Fridley Sun Focus
June 23,2017
702208&702220