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1983 CAFR CITY OF FRIDLEY STATE OF MINNESOTA • CO PMSVF• + A ;4, Fzfl©:z R P©3\LJ FOR THE YEAR ENDED DECEMBER 31, 1983 CITY OF FRIDLEY, MINNESOTA COMPREHENSIVE ANNUAL FINANCIAL REPORT DECEMBER 31, 1983 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, 1983 TABLE OF CONTENTS INTRODUCTORY SECTION EXHIBIT PAGE 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 24 -FINANCIAL SECTION Auditors' 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 Proprietory Fund Types A-4 36 Combined Statement of Changes in Financial Position - All Proprietory Fund Types A-5 37 Notes to Financial Statements 38 Financial Statements of Individual Funds: General Fund: Comparative Balance Sheet B-1 61 Statement of Revenues, Expenditures and '- Changes in Fund Balance - Budget and Actual B-2 62 Statement of Revenues and Other Financing — Sources - Budget and Actual B-3 63 • Statement of Expenditures and Other Financing Uses - Budget and Actual B-4 65 CITY OF FRIDLEY, MIINESOTA COMPREHEHSIME ANNUAL FIDAICIAL REPORT TEAR ENDED DECEMBER 31, 1983 -- TABLE OF CONTESTS (CONTIROED) B>�IT PAGE Special Revenue Funds: — Combining Balance Sheet C-1 70 Combining Statement of Revenues, Expenditures —' and Changes in Fund Balances C-2 72 Municipal State Aid Fund: — Comparative Balance Sheet C-3 74 Statement of Revenues, Expenditures and -" Changes in Fund Balance - Budget and Actual C-4 75 Revenue Sharing Fund: — Comparative Balance Sheet C-5 76 Statement of Revenues, Expenditures and — Changes in Fund Balance - Budget and Actual C-6 77 Cable TV Fund: Comparative Balance Sheet C-7 78 Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual C-8 79 Home Ownership Fund: - Comparative Balance Sheet C-9 80 Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual C-10 81 Housing and Redevelopment Authority Fund: '^ Comparative Balance Sheet C-11 82 Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual C-12 83 Debt Service Funds: — Combining Balance Sheet D-1 85 Combining Statement of Revenues, Expenditures and Changes in Fund Balances D-2 86 CITY OF FRIDLEY, MINNESOTA COMPREHENSIVE ANNUAL FINANCIAL REPORT TEAR ENDED DECEMBER 31, 1983 TABLE OF CONTENTS (CONTINUED) EXHIBIT PAGE Capital Projects Funds: Combining Balance Sheet E-1 88 Combining Statement of Revenues, Expenditures and Changes in Fund Balances E-2 90 _., , Special Assessment Funds: Combining Balance Sheet F-1 95 Combining Statement of Revenues, Expenditures and Changes in Fund Balances F-2 96 Enterprise Funds: Combining Balance Sheet G-1 97 Combining Statement of Revenues, Expenses and Changes in Retained Earnings 0-2 98 Combining Statement of Changes in Financial Position 0-3 99 Liquor Fund: Comparative Balance Sheet 0-4 100 Comparative Statement of Revenues, Expenses and Changes in Retained Earnings 0-5 101 Comparative Statement of Changes in Financial Position 0-6 102 Public Utilities Fund: Comparative Balance Sheet 0-7 103 Comparative Statement of Revenues, Expenses and Changes in Retained Earnings G-8 104 Comparative Statement of Changes in Financial Position G-9 105 Internal Service Funds: Combing Balance Sheet H-1 107 CITY OF FRIDLEY, MINNESOTA COMPREHENSIVE ANNUAL FINANCIAL REPORT YEAR ENDED DECEMBER 31, 1983. — TABLE OF CONTENTS (CONTINUED) EXHIBIT PAGE Combining Statement of Revenues, Expenses — and Changes in Retained Earnings H-2 108 Combining Statement of Changes in Financial Position H-3 109 Employee Benefits Fund: Comparative Balance Sheet H-4 110 Comparative Statement of Revenues, Expenses and Changes in Retained Earnings H-5 111 — Comparative Statement of Changes in Financial Position H-6 112 — Management Information Services Fund: Comparative Balance Sheet H-7 113 — Comparative Statement of Revenues, Expenses and Changes in Retained Earnings H-8 111 — Comparative Statement of Changes in Financial Position H-9 115 — Trust and Agency Fund: Comparative Balance Sheet I-1 117 — Comparative Statement of Revenues, Expenditures and Changes in Fund Balance I-2 118 General Fixed Assets: Comparative Statement of General Fixed Assets - -' By Sources J-1 119 Schedule of General Fixed Assets - -. By Function and Activity J-2 120 Schedule of Changes in General Fixed Assets - By Function and Activity J-3 121 General Long-Term Debt: Comparative Statement of General Long-Term Debt K-1 123 CITY OF FRIDLEY, MINNESOTA COMPRESSIVE ANNUAL FINANCIAL REPORT YEAR ENDED DECEMBER 31, 1983 TABLE OF CONTENTS (CONTINUED) TABLE PAGE STATISTICAL SECTION General Governmental Expenditures by Function - - Last Ten Fiscal Years 1 125 General Revenues By Source - Last Ten Fiscal Years 2 126 Certified Property Tax Levies and Collections - Last Ten Fiscal Years 3 127 — Assessed and Estimated Market Value of All Taxable Property - Last Ten Fiscal Years 4 128 — Statement of Valuations and Levies By Classes of Property 5 130 Significant Minnesota Tax Policies 133 Property Tax Rates Per $1,000 of Assessed Value and Calculated Tax Levies - All Overlapping .- Governments - Last Ten Fiscal Years 6 134 Special Assessment Levies and Collections - Last Ten Fiscal Years 7 137 History of Certified Tax Levies and Actual Mill Rates - Last Ten Fiscal Years 8 138 Ratio of Net General Bonded Debt to Assessed Values and Net Bonded Debt Per Capita - Last Ten Fiscal _ Years 9 140 Computation of Legal Debt Margin 10 142 Computation of Direct and Overlapping Bonded Debt and Comparative Debt Ratios 11 144 Ratio of Annual Debt Service Expenditures for General Bonded Debt to Total General Government Expenditures - Last Ten Fiscal Years 12 145 Revenue Bond Coverage - Last Ten Fiscal Years 13 146 Demographic Statistics - Last Ten Fiscal Years 14 147 Construction, Bank Deposits and Property Value - • Last Ten Fiscal Years 15 148 CITY OF FRIDLEY, MINNESOTA COMPREHENSIVE ANNUAL FINANCIAL REPORT YEAR ENDED DECEMBER 31, 1983 TABLE OF CONTENTS (CONTINUED) TABLE PAGE Principal Taxpayers 16 99 Insurance Coverage 150 City Capital Improvement Financing Policy 151 Miscellaneous Statistical Information 152 General Information 155 INTRODUCTORY SECTION a a a I CITY OF FRIDLEY, MINNESOTA ELECTED AND APPOINTED OFFICIALS DECEMBER 31, 1983 ELECTED OFFICIALS Term of Office Expires December Mayor William J. Nee 1983 Councilmember At Large Robert L. Barnette 1983 Councilmember, Ward I Edward L. Hamernik 1984 Councilmember, Ward II Dennis L. Schneider 1985 Councilmember, Ward III Edward J. Fitzpatrick 1984 Effective January 1984 Mayor William J. Nee • 1986 Councilmember At Large Robert L. Barnette 1986 -' Councilmember, Ward I Edward L. Hamernik 1984 Councilmember, Ward II Dennis L. Schneider 1985 Councilmember, Ward III Edward J. Fitzpatrick 1984 APPOINTED OFFICIALS City Manager - Nasim M. Qureshi City Attorney - Virgil C. Herrick Prosecuting Attorney - Carl Newquiat 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 Service - Sidney C. Inman Division Heads: City Planner - Jerrold Boardman 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 ADMNISTRATIVE FRIA (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 Parksl6 Rec. Public Works Secretary Secretary Naturaltist/Resource -- Engineering Div. (3) Code EnforJement Division (4) Coordinator Asst. P.Wks. Director Chief Building Official Interpretive Spec. Engineering Tech. Environmental Officer Recreattion Supv. Eng. Aide/Admin. Plumbing Inspector Program Supv. Clerk/Secretary Park Foreman (7) Planning Division (31 City Planner Senior Parkkeeper 2 Opr. & Maint. Spec. .-. Associate Planner 3 Opr. & Maint. Persons Clerk/Secretary Public Works Maintenance Division Supt. of Public Works (25) Cl er4Secretary Street Foreman (13) Water Foreman (5) Sewer Foreman (5) Sr. Steet Operator Sr. Water Operator 2 Sr. Sewer Operators .r 3 Heavy Equip. Opr. Opr. & Maint. Spec. 2 Opr. & Maint. Persons Opr. 3 Maint. Spec. 2 Opr. & Maint. Persons 4 Opr. & Maint. Persons 2 Mechanics Opr & Maint. Spec. -2- ORGANIZATIONAL STRUCTURE 1983 (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 Liquor/Division Property/Tax Division 4 Office Assistants Liquor Store Manager(4) Assessor (3) Asst. Liquor Store Mar. 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 June 14, 1984 The Honorable Mayor and City Council City of Fridley Fridley, Minnesota 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 , 1983. MOM 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, Aitts.; "04 asieet ` Nasim M. Qureshi City Manager -5- CIlYOF FRIDLEY CIVIC CENTER • 6431 UNIVERSITY AVE. N.E., FRIDLEY, MINNESOTA 55432 • PHONE (612) 571-3450 MENG June 14, 1984 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 , 1983, 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 Acountants, the National Council on Governmental Accounting. 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 National Council on Governmental Accounting. The City of Fridley was awarded a certificate of Conformance for its annual financial report for the fiscal year 1982 . It is my belief that the accompanying fiscal year 1983 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 fund statments, 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 AID BUDGETORY CONTROL The accounting system 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 accuual 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. -9- TEE 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, Statement 3, 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 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 FUTURE TEARS _. 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, 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 into 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. -10- CASH MAIAOEMBNT '— All temporary cash surpluses during the year are invested in various securities which State statutes permit. The City's policy is to invest all 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 12.13% during the year. The 1983 earnings were distributed to the following fund types: General $ 277,480 Special Revenue 244,579 Debt Service 52,355 Capital Projects 148,778 Special Assessments 727,703 Enterprise 373,838 Internal Service 74,470 Expendable Trust 2,112 $1,901,315 The following is a summary of earnings for the past three years: Year Earnings 1981 $1,821,144 1982 $1,885,609 1983 $1,901,315 DEBT ADMIIISTRATIOI Net general bonded debt per capita, and the percentage of the net general debt to assessed value are useful indicators of the City's debt position. Debt statistics for the City as of December 31, 1983 are as follows: Percent of Debt per Amount Assessed Talus Capita Net general bonded debt $20,528 .01 0.69 No bonds were issued by the City of Fridley during 1983. The total bonds outstanding for the City on December 31 , 1983 was $8,285,000. Below is a table of the outstanding bonds: ^ -11- Remaining Date of Amount Years Interest -.. Issue Outstanding of Issue Rate 1982 $ 625,000 16 8.50 - 10.70% 1982 1 ,250,000 16 8.50 - 10.70% 1982 600,000 16 6.50 - 9.75% 1981 2,200,000 15 7.10 - 9.00% 1980 1 ,450,000 12 7.25 - 8.50% -- 1977 545,000 5 3.10 - 4.90% 1976 325,000 6 3.75 - 6.00% 1975 185,000 5 6.00% 1972 600,000 10 3.80 - 5.30% 1967 110,000 4 4.20 - 4.50% 1965 70,000 2 3.20 - 3.50% 1965 105,000 2 3.50% 1965 220,000 4 3.20 - 3.50% $8,285,000 During 1983, the City was notified that Moody's Investor Service had continued a bond rating of Aa1 which the City achieved during 1981 . As of December 31 , 1983, the City had issued $44,525,000 in Industrial Revenue Bonds which are permitted under Minnesota Statutes, Chapter 474. Listed below - are the bonds issued: 221EMSE 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 WWII 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 Ave. 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 $44,525,000 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. -12- FISCAL DISPARITIES The commonly referred to "Fiscal Disparity Law" was adoted 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 1983, 1982, 1981 , and 1980: 1983 1982 1981 1980 ,... Taxable values - City Personal property $ 8,488,759 $ 8,311,212 $ 8,054,674 $ 7,696,957 Real estate 220,511,750 207,339,276 180,937,326 166,338,623 Less tax increment project valuations (3,951,300) (2,892,948) (2,708,711) (954,050) Subtotal City 225,049,209 212,757,540 186,283,289 173,081,530 Areawide allocation Contribution to "Pool" (25,629,645) (20,695,684) (17,377,237) (14,234,755) Distribution from "Pool" 12,509,174 11,355,678 7,354,639 5,376,247 Subtotal Pool (13,120,471) (9,340,006)_ (10,022,598) (8,858,508) Total Taxable Talus $211,928,738 $203,417,534 $176,260,691 $164,223,022 TAX INCREMENT DISTRICTS The City Council took aotion 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 suoessful relationship that the City and the Housing and Redevelopment Authority have developed, many benefits have been derived. During 1983 , Columbia Park Properties and the 73rd Avenue Partnership completed facilities in the Center City Area that has added $1,543,773 worth of assessed value upon retirement of the related bonds. Other increment areas have been developed with the use of Industrial Development Revenue Bonds. -13- 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 $6,449,711 , an increase of $649,531 from 1982. Expenditures (including transfers) for the General Fund totaled $5,502,519, an -. increase of $78,763 over the previous year. The fund balance increased by $947,192 and was $4,730,619 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 current year. -- Fund Balanoe General Beginning of Year Fund Budget Amount % of Budget -' 1978 $ 3,962,664 1,279,792 32.3 1979 4,351 ,005 1,630,478 37.5 -- 1980 5,664,208 2,280,353 40.2 1981 6,101 ,166 378,727 6.2 1982 6,180,388 610,071 9.9 1983 6,366,475 1,531,908 24.1 The amount of revenue from various sources and the changes from the previous year are summarized in the following table. Increase 1983 Percent (Decrease) -' Amount of Total from 1982 General property taxes $2,493,100 38.7 $100,581 -- License and permits 271 ,988 4.2 17,949 Intergovernmental revenue 2,448,137 38.0 489,985 Charges for current services 131,018 2.0 (14,533) Fines and forfeits 197,766 3.1 51 ,432 Interest on investments 277,480 4.3 41 ,283 Miscellaneous 60,222 .9 (78 ,271) —. Transfers 570,000 8.8 41,105 Total revenue $6,449,711 100.0% $649,531 .- General property taxes accounted for 38.7% of the General Fund revenues (41 .2% in 1982) and current tax collections were 97.95% of the total tax levy for the _ year 1983. -14- Changes in levels of expenditures for major functions of the City over the preceding year are shown in the following table: Increase 1983 Percent (Decrease) Expenditures by Function Amount of Total from 1982 General government $ 749,389 13.6 $ 2,213 Public safety 2,148,834 39.1 208,838 Civic center 156,708 2.8 40,815 Public works 1,180,864 21.5 50,989 Parks and recreation 910,204 16.5 (937) Debt service (16,033) Capital outlay 231,390 4.2 (136,219) Transfers 125,130 2.3 (70,903) $5,502,519 100.0% $ 78,763 The mill rates by purpose for the past two fiscal years are as follows: Purest 1983 1982 General Fund 14.525 13.877 General Debt Service .172 .183 Capital Improvement .211 .218 14.908 14.278 SPECIAL REVENUE FUNDS Purpoas Special Revenue funds are used to account for revenue derived from specific taxes or other earmarked revenue sources. They are usually required by Statute, Charter provisions, or local ordinance to finanoe 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 are 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. These 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 improvements projects. The fund balance at December 31, 1983 was $1,137,091 which was a decrease from the previous year of $15,489. Revenues totaled $344,444, 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 -15- $153,082. The expenditures from this fund were in the form of transfers to other funds and increased this year by $124,098. 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 1983 was $187,358 which was a decrease from 1982 of $8,997. Revenue Sharing funds are transferred from the Revenue Sharing Fund to the General Fund where the detailed amounts are budgeted. During 1983, transfers of these types totaled $280,000. The fund balance of December 31, 1983 was $28,747, which represents a decrease of $81,801 from 1982. 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, 1983 the fund balance totaled $77,743. — Hose 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 1983, the City set the groundwork for the next phase of the family homeownership objective. The proposed Metropolitan Housing Fund will make available through pooled funds, money for new homes and rehabilitation of older structures. Expenditures during 1983 amounted to $56 ,150 and revenues amounted to $56,150, leaving the fund balance at December 31 , 1983 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 the main construction area during 1983 . The Columbia Park Clinic and Fridley Plaza Office Building were both constructed within the Center City Tax Increment Area. We are looking forward to yet another major office building to begin construction in the same area during 1984. Other increment areas have also seen a surge of construction with various types of projects going on within each. -16- During 1983, expenditures and other financing uses were in excess of revenues by $409,994, leaving the fund balance at December 31 , 1983 at $921,105. 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 1983, revenues amounted to $366,012, of which $29,100 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 area, totaling $3,425,000. On December 31, 1983, $105,000 was outstanding on the Civic Center bond issue and $3,425,000 on the Tax Increment bond issues. The fund balance at December 31, 1983 was $652,976. CAPITAL PR0JECTS 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. IOW During 1983, the Capital Improvement Fund made a loan of $125,000 to the Management Information Services Fund. The length of this loan is five years and the proceeds are being used to finance the computer hardware used in conjuction with the comprehensive municipal software now in place. As of December 31, 1983, the fund balance was $1,368,078. 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. This area will include a visitation building that will have specimens of wildlife that inhabit the north central area of the United States. The building is also to -17- be used for classes relating to wildlife education and events for children in relation to preservation of wildlife. Land in the area has been untouched except for the building construction so as to maintain the natural surroundings. Nature trails with board walks and bridges are to be built over -- ponding areas that are now under construction. During 1983, total expenditures and other financing uses exceeded revenues by $69. The fund balance as of December 31, 1983 was $80,695. 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 inolude 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 1983, $38 , 129 was received in donations and the fund earned $14,514 on its investments. Expenditures and other financing uses totaled $426,524 leaving a deficit fund balance at December 31 , 1983 of $5,757. The park is being financed by donations from civic organizations and private industry with additional -- commitments to be received during 1984. University Avenue Bike/Walkway Fund The City received a grant from the State to complete a bike/walkway system. The system was completed during 1983 which added 3/4 mile to an exisiting trail. The fund was closed during 1983. 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. -18- Special Assessents 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 1983 by $1 ,294,435 bringing the fund balance at December 31 , 1983 to $2,615,819. ENTERPRISE FUNDS Purpose Enterprise Funds account for the financing of services to the general public in which all or most of the costs involved is 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. Municipal Liquor Fund The Municipal Liquor Fund was established to account for the operation and financing of the City-owned municipal liquor stores. One is located at 6289 Highway 65; the other is located at 6586 University Avenue Northeast. The City owns the land, building and fixtures at the Highway 65 location. The City leases the building at the University Avenue location. The most current lease was negotiated in 1978 for the University Avenue location. Shown below is a summary of liquor store operations for the years 1983, 1982, 1981, 1980 and 1979. 1983 1982 1981 1980 1979 Sales $1,618,204 $1,714,953 $1,743,846 $1,661,818 $1,461,144 Gross profit 314,653 340,059 344,681 333,245 275,862 Net income before transfers 102,385 168,603 192,975 171,285 117,404 Transfers to General Fund $ 150,000 $ 100,000 $ 90,000 $ 85,000 $ 85,000 Retained earnings of the Municipal Liquor Fund were $984,597 on December 31 , 1983, compared to $1,032,212 on December 31, 1982. 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 -19- principal amount of $220,000 for this bond issue was outstanding on December 31 , 1983. 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 $365,409 represents the City's share of the equity in the Minneapolis Sewer System which was acquired 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. — 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. The City Council has a policy of not depreciating water and sewer lines paid for by special assessments. The reasoning for this is that the original water — and sewer lines have not been fully paid for by the property owners. To require these same property owners to pay for the lines by special assessments and also via their utility bills would require the same customers to pay for the system twice. — Retained earnings on December 31 , 1983 were $5,434,816 compared to $5,036,751 on December 31 , 1982. Shown below is a summary of operations of the Public Utility Fund for the years 1983, 1982, 1981, 1980 and 1979. 1983 1982 1981 1980 1979 Operating revenue $1,928,973 $1,753,918 $1,560,081 $1,477,709 $1,397,400 — Operating expenses 1,850,966 1,767,818 1,681 ,670 1,376,970 1 ,237,212 Operating income (loss) $ 78,007 $ (13,900)$ (121,589)$ 100,739 $ 160,188 — During 1983, 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 1984. 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. -20- Employee Benefits Fund This fund was set up to account for all fringe benefits in one central location. It is a tool that managment now uses to evalute 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 1983, operating revenues exceeded operating expenses by $316,677 resulting in a fund balance at December 31, 1983 of $811,730. Management Information Services Fund This fund was created this year to account for revenues and expenses associated with the operation of a computerized information system the City has placed into use, During the year, and indepth analysis was completed evaluating various alternatives in information processing. The City determined that an in-house computer was the solution to cost containment in this 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. •r Revenues in the form of charges for services during 1983 amount to $40,000 and the expenses in the form of depreciation amounted to $5,558. Fund balance as of December 31, 1983 amounted to $34,442. a 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, a 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 , 1983 is $2,282. GENERAL FIXED ASSETS ACCOUNT GROUP Purpose General Fixed Assets are those fixed assets of a governmental jurisdiction whioh are not accounted for in an Enterprise or Internal Service Fund. To be -21- 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 revenue 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 $35,000 of principal of general obligation bonds during 1983. PENSIONS Employees in the City of Fridley are covered by five pension plans: 1) Fridley Fire Relief Association for Volunteer Firemen. 2) Fridley Police Pension 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 Pension Plan, which covers certain other City civilian employees. 5) Coordinated Public Employee Pension 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 -22- 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. , Certifed Public Accountants is included in this report. CERTIFICATE OF CONFORMANCE "The Government 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 , 1982. In order to be awarded a Certificate of Conformance, a governmental unit must publish an easily readable and efficiently organized comprehensive annual financial report, whose 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." ACKNOWLEDGEMENTS The preparation of the 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, A2d,.,)t-O. P:ASLP Sidney C. Inman Richard D. Pribyl Director of Central Services Finance Officer WWI -23- 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, 1982 — A Certificate of Conformance in Financial Reporting is presented by the Municipal 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. SCE OFFIct., 6.%4 ro "z`r President — I caw Dri Err Executive Director -24- FINANCIAL SECTION T AIMM AUDITOR'S OPINION G M H C o GEORGE M. HANSEN COMPANY, P.A. A Professional Corporation of Certified Public Accountants AUDITORS ' OPINION 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, 1983, 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, 1983, 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. m April 18, 1984 1 75 SOUTH PLAZA BUILDING WAYZATA BOULEVARD AT HIGHWAY 1 00 MINNEAPOLIS,MINNESOTA 5541 6 61 2/546-2566 _ -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 Pu lLEY, MINNESOTA COMBINED BALANCE SHEET — ALL FUND TYPES AND ACCOUNT GROUPS December 31, 1983 Governmental Fund Types Special Debt Capital Special General Revenue Service Projects Assessment Assets Cash $ 82,026 $ 463,468 $109,726 $ 126,134 $ 792,217 Investments 4,279,211 1,653,971 543,250 1,202,789 6,359,092 .... Receivables (Net of allowance for uncollectable): Accounts 28,174 11,860 25,000 Taxes 18,870 2,563 283 Special Assessments 14,470 3,673,303 Interest 441 ,447 44,250 Due from other funds 20,579 25,000 _ Due from other governments 27,695 76,483 148,500 Advance to other fund 100,000 Inventories 17,908 --Prepaid expenses Long term receivable Restricted assets: 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 $4,909,801 $2,270,611 $655,539 $1,1179,206, ,00,973,112 See Accompanying Notes to Financial Statements -28- Exhibit A-1 Fiduciary Proprietary Fund Types Fund Types Account Groups Totals Internal Trust and General General Long (Memorandum Only) Enterprise Service Agency Fixed Assets Term Debt 1983 1982 $ 452,023 $ 137,630 $ 2,384 $ $ $ 2,165,608 $ 2,557,383 3,096,470 894,109 21,211 18,050,103 16,931,163 538,584 603,618 506,937 21,716 9,058 3,687,773 3,947,622 485,697 299,531 45,579 157,086 71,869 324,547 105,389 100,000 195,289 213,197 229,158 73,401 73,401 76,909 351 ,566 351,566 367,773 ... 163,654 163,654 188,068 11,998,646 73,359 21,394,000 33,466,005 32,161,471 652,976 652,976 611,810 2,877,024 2,877,024 2,953,190 $16,941,502 $1,105,098 $23,595 $21,394,000 $3,530,000 $63,282,464 $61,102,548 -29- CITY OF FRIDLEY, MINNESOTA -- COMBINED BALMS SHEET - ILL FUND TYPES AND ACCOUNT GROUPS (Continued) December 31, 1983 Governmental Fund Types Special Debt Capital Special General Revenue Service Projects Assessment Liabilities and Fund Equity Liabilities -- Advance from city's general account $ $ 38,609 $ $ 28,405 $ Accounts payable 86,995 8 7,502 12,404 Deposits payable 23,229 10,850 106,182 Contracts payable 970 35,879 29,364 Salaries payable 34,068 1,040 Leave payable Deferred revenue 33,340 2,563 283 3,673,303 Due to other funds 20,579 Due to other governments 580 Advance from other fund Bonds payable 4,535,000 Total liabilities 179,182 105,925 2,563 36,190 8,357,293 Fund Equity Contributed capital -, Investment in general fixed assets Retained earnings - Reserved Unreserved Fund balance: Reserved 597,694 652,976 100,000 2,442,512 -- Unreserved Designated 2,601,017 8,680 1,268,078 Undesignated 1,531,908 2,156,006 74,938 173,307 Total retained earnings/ fund balance 4,730,619 2,1641686 652,976 1,1143,016 2,615,819 Total hind equity 4,730,619 2,164,686 652,976 1,443,016 2,615,819 -' Total liabilities and fund equity $4,909,801 $2,270,611 $655,539 $1,479,206 $10,973,112 — See Accompanying Notes to Financial Statements -30- Exhibit A-1 Continued Fiduciary Proprietary Fund Types Fund Types Account Groups Totals Internal Trust and General General Long (Memorandum Only) Enterprise Service Agency Fixed Assets Term Debt 1983 1982 $ $ $ $ $ $ 67,014 $ 35,508 118,059 39,655 160 264,783 303,375 21,153 161,414 146,551 66,213 134,161 8,382 43,490 45,944 90,058 90,058 172,097 3,709,489 3,956,680 25,000 45,579 157,086 8,968 4,213 13,761 83,002 100,000 100,000 220,000 3,530,000 8,285,000 9,160,000 355,409 258,926 21,313 -0- 3,530,000 12,846,801 14,194,404 10,166,680 10,166,680 10,166,680 21,394,000 21,394,000 20,265,510 889,300 889,300 378,160 6,419,413 (43,128) 6,376,285 6,068,963 3,793,182 1,976,340 2,282 3,877,775 4,116,017 3,938,441 3,936,474 6,419,413 846,172 2,282 18,874,983 16,475,954 • 16,586,093 846,172 2,282 21,394,000 -0- 50,435,663 46,908,144 ▪ $16,941,502 $1,105,098 $23,595 $21,394,000 $3,530,000 $63,282,464 $61,102,548 -31- CITY OF FRIDLEY, MINNESOTA COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - ALL GOVERNMENTAL FUND TYPES AND EXPENDABLE TRUST FUNDS Year Ended December 31, 1983 Governmental Fund Types Special Debt General Revenue Service Revenues: Taxes and special assessments $2,493,100 $ $301 ,663 Licenses and permits 271 ,988 48,976 Intergovernmental revenue 2,448,137 534,837 11,994 Charges for services 131,018 Fines and forfeitures 197,766 Interest on investments 277,480 244,579 52,355 Miscellaneous 60,222 110,612 Total revenues 5,879,711 939,004 366,012 Expenditures: Current General government 749,389 47,410 Public safety 2,148,834 Civic center 156,708 Public works 1,180,864 233,301 Parks and recreation 910,204 Capital projects Debt service 325,707 Other Capital outlay 231,390 220,194 Total expenditures 5,377,389 500,905 325,707 Excess (deficiency) of revenues over expenditures 502,322 438,099 40,305 Other financing sources (uses): Bond sales Operating transfers in 570,000 861 Operating transfers out (125,130) (940,794) Total other financing sources (uses) 444,870 (940,794) 861 Excess (deficiency) of revenues and other financing sources over expenditures and other financing uses 947,192 (502,695) 41,166 Fund balance January 1 3,783,427 , 2,667,381 611,810 Fund Balance December 31 $4,730,619 $2,164,686 $652,976 See Accompanying Notes to Financial Statements -32- Exhibit A-2 Fiduciary Fund Type Totals Capital Special Trust and (Memorandum Only) Projects Assessments Agency 1983 1982 $ 35,890 $ 722,223 $ $ 3,552,876 $ 3,261,551 320,964 360,949 8,691 141 ,662 3,145,321 2,440,201 131,018 145,551 197,766 146,334 148,778 727,703 2,112 1,453,007 1,450,823 38,629 354,672 564,135 648,346 231,988 1,946,260 2,112 9,365,087 8,453,755 796,799 836,705 2,148,834 1,939,996 156,708 115,893 1,414,165 1,321,993 910,204 911,141 404,158 865,008 1,269,166 754,132 448,291 773,998 628,939 18,690 451,584 1,842,137 404,158 1,313,299 -0- 7,921,458 8,369,626 (172,170) 632,961 2,112 1,443,629 84,129 1,211,907 2,370 674,536 1,247,767 1,854,745 (31,843) (13,062) (1,110,829) (1,763,105) (29,473) 661,474 -0- 136,938 1,303,547 (201,643) 1,294,435 2,112 1,580,567 1,387,676 - 1,644,659 1,321,384 170 10,028,831 8,641,155 $1,443,016 $2,615,819 $2,282 $11,609,398 $10,028,831 -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, 1983 General Find Variance- Favorable Budget Actual (Unfavorable) Revenues: Taxes and special assessments $ 2,427,240 $2,493,100 $ 65,860 Licenses and permits 243,000 271,988 28,988 Intergovernmental revenue 2,006,669 2,448,137 441 ,468 Charges for services 141 ,000 131,018 (9,982) Fines and forfeits 112,350 197,766 85,416 Interest on investments 260,000 277,480 17,480 Miscellaneous 42,000 60,222 18,222 Total revenues 5,232,259 5,879,711 647,452 Expenditures: -- Current General government 840,759 749,389 91 ,370 Public safety 2,213,076 2,148,834 64,242 Civic center 156,939 156,708 231 -' Public works 1,223,889 1,180,864 43,025 Parks and recreation 1,096,254 910,204 186,050 Debt service -^ Reserve for contingencies 326,750 326,750 Capital outlay 383,308 231,390 151,918 Total expenditures 6,240,975 5,377,389 863,586 _ Excess (deficiency) of revenues over expenditures (1,008,716) 502,322 1,511,038 Other financing sources (uses): Operating transfers in 570,000 570,000 Operating transfers out (125,500) (125,130) 370 Total other financing sources (uses) 444,500 444,870 370 -- Excess (deficiency) of revenues and other financing sources over expenditures and other financing uses (564,216) 947,192 1,511,408 Fund balance January 1 3,783,427 3,783,427 - Fund Balance December 31 $ 3,219,211 $4,730,619 $1,511,408 See Accompanying Notes to Financial Statements -34- Exhibit A-3 Totals Special Revenue Fund Types (Memorandum Only) Variance- Variance- " Favorable Favorable Budget Actual (Unfavorable) Budget Actual (Unfavorable) $ $ $ $ 2,427,240 $ 2,493,100 $ 65,860 48,000 48,976 976 291 ,000 320,964 29,964 505,100 534,837 29,737 2,511,769 2,982,974 471,205 141 ,000 131,018 (9,982) 112,350 197,766 85,416 193,000 244,579 51,579 453,000 522,059 69,059 110,000 110,612 612 152,000 170,834 18,834 856,100 939,004 82,904 6,088,359 6,818,715 730,356 50,380 47,410 2,970 891 ,139 796,799 94,340 2,213,076 2,148,834 64,242 156,939 156,708 231 192,500 233,301 (40,801) 1,416,389 1,414,165 2,224 1,096,254 910,204 186,050 326,750 326,750 220,270 220,194 76 603,578 451 ,584 151 ,994 463,150 500,905 (37,755) 6,7044125 5,878,294 825,831 392,950 438,099 45,149 (615,766) 940,421 1,556,187 20,000 (20,000) 590,000 570,000 (20,000) .. (897,561) (940,794) (43,233) (1,023,061) (1,065,924) (42,863) (877,561) (940,794) (63,233) (433,061) (495,924) (62,863) (484,611) (502,695) (18,084) (1,048,827) 444,497 1,493,324 2,667,381 2,667,381 6,450,808 6,450,808 $ 2,182,770 $ 2,164,686 $ (18,084) $ 5,401,981 $ 6,895,305 1,493,324 -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, 1983 Proprietary Fund Types Totals Internal (Memorandum Only) Enterprise Service 1983 1982 Sales and cost of sales: Sales $1,618,204 $ $1,618,204 $1,714,953 Cost of sales 1 ,303,551 1,303,551 1,374,894 Gross profit 314,653 -0- 314,653 340,059 Operating revenues: Water. sales and sewer rents 1 ,837,000 1 ,837,000 1,680,304 Other 91 ,973 91 ,973 73,614 Charges for services 914,959 914,959 686,643 Total operating revenue 1,928,973 914,959 2,843,932 2,440,561 Operating expenses: ._ Personal services 677,973 677,973 595,848 Supplies and other charges 1,357,711 558,282 1 ,915,993 2,043,271 Depreciation 102,846 5,558 108,404 99,936 Total operating expenses 2,138,530 563,840 2,702,370 2,739,055 Operating income 105,096 351,119 456,215 41,565 Nonoperating revenues (expenses): Intergovernmental revenue 3,090 3,090 2,116 Interest on investments 373,838 74,470 448,308 434,786 Debt service (8,659) (8,659) (10,415) Other 14,023 42,423 56,446 56,143 Total non-operating revenues (expenses) 382,292 116,893 499,185 482,630 Income before extraordinary item and operating transfers 487,388 468,012 955,400 524,195 Extraordinary item 396,034 Income before operating transfers 487,388 468,012 955,400 920,229 Operating transfers in 13,062 13,062 8,360 Operating transfers out (150,000) (150,000) (100,000) Total operating transfers (136,938) -0- (136,938) (91,640) Net income 350,450 468,012 818,462 828,589 -- Retained earnings January 1 6,068,963 378,160 6,447,123 5,618,534 Retained earnings December 31 $6,419,413 $846,172 $7,265,585 $6,447,123 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 Deoeeber 31, 1983 Proprietary Fund Types Totals Internal (Memorandum Only) Enterprise Service 198 1982 Sources of working capital: Operations: Net income for the year $350,450 $468,012 $ 818,462 $ 828,589 Items not required working -' capital-depreciation 102,846 5,558 108,404 99,936 Working capital provided by operations 453,296 473,570 926,866 928,525 Advance due to other funds 16,207 100,000 116,207 15,462 Net decrease in restricted assets 24,414 24L414 17,367 Total sources or working capital 493,917 573,570 1,067,487 961,354 Uses of working capital: Acquisition of property and equipment 205,531 78,917 284,448 141,013 Decrease in long term bonds payable 50,000 50,000 50,000 Decrease in deferred revenue 396,034 Total uses or working capital 255,531 78,917 334,448 587,047 Increase in working capital $238,386 $494,653 $ 733,039 $ 374,307 Elements of increase (decrease) in working capital: Cash $51,561 $ 15,867 $ 67,428 $ 301,606 Investments (43,459) 437,615 394,156 287,995 Receivables 144,173 144,173 77,132 Due from other funds (14,845) Due from other governments 58,558 58,558 (284,141) Inventories (11,000) (11,000) 10,449 Prepaid expenses (3,508) (3,508) 6,630 Accounts payable 1,405 (39,655) (38,250) (44,036) Contracts payable 877 Salaries payable (2,082) (2,082) (1,001) Leave payable 82,039 82,039 26,116 Due to other funds 850 (25,000) (24,150) (850) Due to other governments 41,888 23,787 65,675 8,375 Bonds payable Increase in working capital $238:386 $494,653 $ 7331039 $ 3744307 See Accompanying Notes to Financial Statements -37- CITY OF FRIDLEY, MINNESOTA NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 1983 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 , 1983, the City has implemented National ,_ Council on Governmental Accounting Statement 3, Defining the Governmental ReDortina 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 acoorance with Minnesota Statutes, whereby state aids flow to the associations, tax levies are determined by the associations and are only reviewed by the City and the associations pay benefits directly to their members. (See Note 7 for disclosures relating to the pension plans operated by the associations.) • B. Fund Acoounting 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) DECEMBER 31, 1983 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 FUNDS 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 (CONTINUED) DECEMBER 31, 1983. 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- AME CITY OF FRIDLEY, MINNESOTA NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 1983 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 FUNDS 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. AMIA -41- CITY OF FRIDLEY, MINNESOTA NOTES TO FINANCIAL STATEMENTS (CONTINUED) ._ DECEMBER 31, 1983 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. -42- CITY OF FRIILEY, MINNESOTA -- NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 1983 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 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 types 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 susceptable to accrual, ie. , both measurable and available. Substantially all sources 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. -43- CITY OF FRIDLEY, MINNESOTA NOTES TO FINANCIAL STATEMENTS (CONTINUED) — DECEMBER 31, 1983 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 activity. Budgetary control, by departments or divisions, and by category is required by the City Charter. 10. The General Fund budget includes $21 ,816 of prior year encumbrances — which were expended during the year. -44- OMR CITY OF FRIDLEY, MINNESOTA NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 1983 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 The City Council annually adopts a tax levy and certifies it to the County for billing and collection. The County is responsible for billing and collecting all property taxes for itself, the City, the local School District and other taxing authorities. These taxes are payable (by property owners) by May 15 and October 15 of each calendar year. They are collected by the County and remitted to the City by approximately each subsequent July 15 and December 15. Additionally, delinquent collections are remitted to the City with each settlement. The City has no ability to enforce payment of property taxes by property owners. The County possesses this authority. 1•••• Taxes a able on homestead p y 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 of 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 substanially complete. The assessments are collectible over a term of years generally consistent with the term of years of the related issue. -45- CITY OF FRIDLET, MINNESOTA NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 1983 1. Summary of Significant Accounting Principles (Continued) F. Assets, Liabilities and Fund Equity (Continued) ■ 2) Receivables (Continued) Special Assessments Receivable (Continued) -- Special assessments receivable includes the following components: Unremitted - 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. 4) Property and Equipment/General Fixed Assets -- 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. ._ 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 years Buildings 20 years Office Equipment 5 - 10 years Machinery and Equipment 5 - 10 years Other Improvements 20 years -46- CITY OF FRIDLEY, MINNESOTA NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 1983 1. Summary of Significant Accounting Principles (Continued) F. Assets, Liabilities and Fund Equity (Continued) 4) Property and Equipment/General Fixed Assets (Continued) Capital leases are recorded as assets in either the proprietary funds or in the general fixed asset account group, as appropriate. The City Council has a policy of not depreciating water and sewer lines paid for by special assessments. The reasoning for this is the water and sewer lines have not been fully paid for by the property owners. To require these same property owners to pay for the lines by special assessments and also via their utility bills would require the same customers to pay for the system twice. 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 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). Allowances are provided for the full amount of delinquent taxes receivable. 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. -47- CITY OF FRIDLEY, MINNESOTA NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 1983 1. Summary of Significant Accounting Principles (Continued) G. Revenues, Expenditures and Expenses (Continued) 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. Unbilled Sever 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 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. ■■ Omni -48- CITY OF FRIDLEY, MINNESOTA NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 1983 2. Special Assessments Receivable Special assessments receivable at December 31, 1983 are as follows: Special General Assessments Total Deferred $ 14,470 $3,673,303 $3,687,773 Delinquent 8,964 420,983 429,947 —• Total 23,434 4,094,286 4,117,720 Less: allowance for uncollectible (8,964) (420,983) $ (429,947) Net $ 14,470 $3,673,303 $3,687,773 3. Due Frcm Other Governments General Fund: i 1. State of Minnesota a) Section 8 Housing $21,474 b) State Aid Maintenance 5,871 2. City of Hilltop 350 $27,695 Special Revenue Funds: 1. State of Minnesota, Construction Money Expended in 1983 $29,698 2. Federal Government, Revenue Sharing 46,785 $76,483 Special Assessment Funds: 1. State of Minnesota, Water Reclaimation Money Expended in 1983 $148,500 Enterprise Funds - Public Utilities Fund: 1. Metropolitan Waste Control Commission ._ Excess amount from annual billing $ 58,026 Current portion of advance to MWCC 13,843 Total current portion 71,869 Non-current portion of advance to MWCC 351,566 -49- CITY OF FRIDLEY, MINNESOTA NOTES TO FINANCIAL STATEMENTS (CONTINUED) — DECEMBER 31, 1983 3. Due From Other Governments (Continued) The 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 $314,197 (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 $37,369, 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, 1983 Additions Deletions Dec 31, 1983 Land $ 1,516,153 $ $ $ 1,516,153 Buildings 1,619,095 23,900 1,642,995 Improvements other than buildings 14,028,563 607,322 12,410 14,623,475 Machinery and equipment 1,786,817 148,798 97,019 1,8 38,596 — Construction in progress 1,314,882 1,522,297 1,064,398 1,772,781 Total $20,265,510 $2,302,317 $1,173,827 $21,394,000 Construction in progress is composed of the following: Land $ 862,843 Improvements 909,938 -, Total $1,772,781 -50- CITY OF FRIDLET, MINNESOTA NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 1983 5. Summary of Proprietary Fund Property and Equipment A summary of proprietary fund type property, plant and equipment at December 31, 1983 follows: Enterprise Public Internal Liquor Utilities Total Service Land $ 66,961 $ 154,881 $ 221,842 $ Buildings 130,211 817,678 947,889 Improvements other than buildings 1,469 226,611 228,080 Machinery and equipment 125,467 2,049,660 2,175,127 78,917 Water and sewer lines 10,166,680 10,166,680 324,108 13,615,510 13,739,618 78,917 Less: Accumulated depreciation (100,389) (1,640,583) 1,740,972 (5,558) ... Net property and equipment $223,719 811,774,927 411,998,646 173,359 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, 1983: Special General Assessment Enterprise Long-Term Funds Funds Debt Total Bonds payable at Janaury 1, 1983 $5,325,000 $270,000 $3,565,000 $9,160,000 Bonds retired (790,000) (50,000) (354000) (875,000) Bonds payable at December 31, 1983 $4,535,000 $220,000 $3,530,000 $8,285,000 Bonds payable at December 31, 1983 are comprised of the following individual issues (in thousands of dollars): c. -51- CITY OF FRIDLEY, MINNESOTA NOTES TO FINANCIAL STATEMENTS (CONTINUED) _ DECEMBER 31, 1983 6. Changes in Long-Term Debt (Continued) Special Assessment 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% 70 $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% 110 ._ $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% 600 — $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% 185 $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% 325 $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% 545 $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% 1,450 $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% 1,250 4,535 Enterprise Fund: $780,000 General Obligation (G.0) 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% 220 — 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% 105 $2,200,000 General Obligation Tax Increment Redevelopment Bonds of 1981 due in varying annual installments of $50,000 - $250,000 i` through February 1, 1999; interest at 7.10% - 9.00% 2,200 -52- CITY OF FRIDLEY, MINNESOTA NOTES TO FINANCIAL STATEMENTS (CONTINUED) ." DECEMBER 31z 1983 6. Changes in Long-Term Debt (Continued) General Long-Term Debt (Continued): -- $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 3,530 .- The annual requirements to amortize all debt outstanding as of December 31 , 1983, including interest payments of $4,857,849, are as follows: Annual Requirements to Amortize Long-Term Debt ." December 31, 1983 Year Ending Assessment Enterprise Civic Center Redevelopment ... December 31 Fund Fund Bonds Fund Total 1984 980,795 56,825 38,062 347,703 1,423,385 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 51 ,575 397,023 947,228 1989 - 1993 1,768,298 2,087,559 3,855,857 1994 - 1998 356,906 2,270,081 2,626,987 1999 - 2001 100,190 429,546 529,736 $6,163,951 $216,800 $110,512 $6,651,586 $13,142,849 $652,976 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 limitaitons and restrictions. 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, 1983, the legal debt margin was $15,246,936. ... -53- CITY OF FRIDLEY, MINNESOTA - NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 1983 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 satisy the Police Relief Association Guidelines Act, which requires that — 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 , 1983 for the ._ Police Association was $63,083. 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 August 3, 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 1982 and 1983 was $202,944, and $206,583, 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 $420,259,028 as of June 30, 1983. 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 1982 contribution rate was 6.70% on $32,400 in wages, and the 1983 contribution rate was 6.70% on $35,700 in wages. The cost of Social Security in 1982 and 1983 was $95,898 and $98,764 respectively. 8. Leases The City leases space for Liquor Store No. 4 at the Holly Shopping Center, 6586 University Avenue Northeast. An eight-year lease was entered into on October 30, 1978 which provides for the following payments effective May 1 , 1979: -54- CITY OF FRIDLEY, MINNESOTA NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 1983 8. Leases (Continued) $13,600 per annum for each of the first four lease years $13,192 per annum for each of the fifth throughout eighth years In addition to the above amounts, the City is required to pay $61 each month for ._ the first four years of the lease for lot maintenance and $73 per month during the fifth through the eighth years for lot maintenance. The City will also share a pro rata basis any increase in taxes over the base year of 1978. 9. Interfund Receivables and Payables InterfUnd Interfund Receivables Payables Due From/Due To: Special Revenue Funds - Home Ownership Fund $ 20,579 $ HRA Fund 20,579 Capital Projects Fund - Capital Improvement Fund 25,000 Internal Service Fund - Management Information Services 25,000 111/22.212 $ 45,579 Advance From/Advance To: r. Capital Projects Fund - Capital Improvement Fund $100,000 Internal Service Fund - Management -∎ Information Services Fund $100,000 10. Deficit Fund Balance The Sears Capital Projects Fund had a deficit fund balance of $5,757 at December 31, 1983. This deficit is due to the fact that construction within the park was conducted in advance of donations that have been pledged for 1984. The City has many private contributors making generous donations towards the completion of this recreational facility. 11. Excess of Other Financing Uses Over Appropriations The Municipal State Aid Special Revenue Fund had operating transfers out to the Special Assessment Fund that exceeded the budget at year end. The unfavorable variance of $43,233 is compensated by the favorable variance of $68,744 of revenues collected in excess of their budget amounts. -55- CITY OF FRIDLEY, MINNESOTA NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER ,31, 1983 12. Reserved Fund Balanoes/Retained Earnings The following reservations have been made of various fund balances/retained earnings at December 31 , 1983: Fund Balance General Fund Reserved for: Encumbrances $ 485,148 Park construction 94,638 Inventory 17,908 597,694 Capital Projects Fund '^ Reserved for advance to other fund • 100,000 Debt Service Fund — Reserved for Debt Service 652,976 Special Assessment Fund Reserved for: Encumbrances 269,933 Debt. Service 2,172,579 2,442,512 Total reservations $3,793,182 Retained Earnings Internal Service Fund Reserved for employee benefits 811,730 Management Information Services Fund Reserved for system expansion 77,570 Total reservations $ 889,300 No reservations have been made in the Enterprise Funds for restricted assets, as there was no excess of restricted assets over the related liabilities. -, -56- CITY OF FRIDLEY, MINNESOTA NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 1983 13. Designated Fund Balanoe The following designations have been made of various fund balances at December 31, 1983: General Fund For Working Capital $1,600,000 For Subsequent Year's Expenditures 301,017 For Replacement of Fixed Assets 700,000 2,601,017 Special Revenue Municipal state Aid Fund For Subsequent Year's Expenditures 8,680 Capital Projects For Fixed Asset Replacement 1•368,078 Total $3,977,775 -57- CITY OF FRIDL•EY, MINNESOTA NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 1983 14. Segment Information for Enterprise Funds The City maintains operating funds for Liquor and Public Utilities. Segment information for the year ended December 31, 1983 are as follows: Total Enterprise Liquor Utilities Finds Sales (less cost of sales of $1,303,551) $ 314,653 $ -0- $ 314,653 —' Operating revenues -0- 1,928,973 1,928,973 Operating expenses (287,564) (1,850,966) 2,138,530 Operating inoome 27,089 78,007 105,096 Nonoperating revenues 75,296 306,996 382,292 Inoome before operating transfers 102,385 385,003 487,388 Operating transfers from (to) other funds (150,000) 13,062 (136,938) Net income (loss) $ (47,615) $ 398,065 $ 350,450 Depreciation expense included in operating expenses 14,844 88,002 102,846 Property and equipment — Additions 469 205,062 205,531 Deletions -0- 7,843 7,843 Net working capital 760,878 3,481,349 4,242,227 Bonds and other long-term -- liabilities payable from operating revenues -0- 220,000 220,000 Total assets 1,078,176 15,863,326 16,941,502 Fund equity Contributed 10,166,680 10,166,680 Retained earnings $ 984,597 $ 5,434,816 $ 6,419,413 -58- CITY OF FRIDLEY, NIINESOTA NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 1983 15. Contingent Liabilities The City participates in a number of federally assisted grant programs, principal of which are the General Revenue Sharing and Land and Water Conservation Programs. These programs are subject to program compliance audits by the grantors or their representatives. The audits of these programs for the year ended December 31, 1983 have not yet been conducted. Accordingly, the City's compliance with applicable grant requirements will be established at some future date. The amount, if any, of expenditures which may be disallowed by the granting agencies cannot be determined at this time although the City expects such amounts, if any, to be immaterial. The City participates under a joint powers agreement in a data processing - consortium. In accordance with the terms of the agreement, if the City were to withdraw prior to December 31 , 1985, the City would be responsible for its proportionate share of capital costs as follows: 1984 $10,785 1985 15,860 Total #26645 16. 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. -59- 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 B-1 CITY OF FRIDLEY, MINNESOTA GENERAL FUND COMPARATIVE BALANCE SHUT December 31, 1983 and 1982 1983 1982 Assets Cash $ 82,026 $ 381 ,907 Investments 4,279,211 3,074,068 Receivables: Accounts 28,174 5,616 Taxes Unremitted 18,870 8,711 -' Delinquent 107,949 145,560 Less: estimated uncollectable (107,949) (145,560) Special Assessments Deferred 14,470 18,650 Delinquent 8,964 10,022 Less: estimated uncollectable (8,964) (10,022) Interest 441,447 272,388 Due from other funds 153,556 Due from other governments 27,695 32,135 Inventories 17,908 22,869 Total assets $4,909,801 $3,969,900 Liabilities and Fund Balance Liabilities: Accounts payable $ 86,995 $ 98,090 Deposits payable 23,229 19,270 Contracts payable 970 Salaries payable 34,068 39,644 Deferred revenue 33,340 27,361 Due to other governments 580 2,108 Total liabilities 179,182 186,473 Fund balance: Reserve for encumbrances 485,148 345,087 Reserve for park construction 94,638 Reserve for inventory 17,908 22,869 Unreserved - Designated for working capital 1,600,000 1,600,000 Designated for subsequent year's expenditures 301,017 505,400 _. Designated for replacement of fixed assets 700,000 700,000 Unde signa ted 1,531,908 610,071 Total hind balance 4,730,619 3,783,427 Total liabilities and fund balance $4,909,801 $3,969,900 -61- Exhibit B-2 CITY OF FRIDLEY, MINNESOTA GENERAL FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL Year Ended December 31, 1983 With Comparative Actual Amounts for Year Ended December 31, 1982 1983 Variance- Favorable 1982 - Budget Actual (Unfavorable) Actual Revenues: - Taxes and special assessments $ 2,427,240 $2,493,100 $ 65,860 $2,392,519 Licenses and permits 243,000 271,988 28,988 254,039 Intergovernmental revenue 2,006,669 2,448,137 441,468 1,958,152._ Charges for services 141 ,000 131,018 (9,982) 145,551 Fines and forfeits 112,350 197,766 85,416 146,334 Interest on investments 260,000 277,480 17,480 236,197 Miscellaneous 42,000 60,222 18,222 138,493 Total revenues 5,232,259 5,879,711 647,452 5,271,285 Expenditures: - Current General government 840,759 749,389 91 ,370 747,176 Public safety 2,213,076 2,148,834 64,242 1,939,996 _, Civic center 156,939 156,708 231 115,893 Public works 1,223,889 1,180,864 43,025 1,129,875 Parks and recreation 1,096,254 910,204 186,050 911,141 Debt service 16,033 -- Reserve for contingencies 326,750 326,750 Capital outlay 383,308 231,390 151 ,918 367,609 Total expenditures 6,240,975 5,377,389 863,586 5,227,723 - Excess (deficiency) of revenues over expenditures (1,008,716) 502,322 1,511,038 43,562 Other financing sources (uses): Operating transfers in 570,000 570,000 528,895 Operating transfers out (125,500) (125,130) 370 (196,033)- Total other financing sources (uses) 444,500 444,870 370 332,862 Excess (deficiency) of revenues and other financing sources over expenditures and other - financing uses (564,216) 947,192 1,511,408 376,424 Fund balance January 1 3,783,427 3,783,427 3,407,003 Fund balance December 31 $ 3,219:211 $4,,030,619 $1,511,408 #3,783,427 -62- Exhibit B-3 CITY OF FRIDLEY, MINNESOTA GENERAL FUND -- STATEMENT OF REVENUES AND OTHER FINANCING SOURCES - BUDGET AND ACTUAL Year Ended December 31, 1983 With Comparative Actual Amounts for Year Ended Deoember 31, 1982 1983 Variance- Favorable 1982 Budget Actual (Unfavorable) Actual .„ Taxes and special assessments: Current ad valorem taxes $2,374,560 $2,404,241 $ 29,681 $2,359,603 Delinquent ad valorem taxes 32,400 51 ,427 19,027 19,589 Penalties and interest 3,780 23,866 20,086 8,504 "' Forfeited sale-taxes 10,800 2,418 (8,382) 1,556 Special assessments 5,700 11,148 5,448 3,267 Total taxes 2,427,240 2,493,100 65,860 2,392,519 Licenses and permits: Licenses - _„ Contractor 15,000 11,025 (3,975) 10,371 Business 128,000 126,570 (1,430) 126,118 All other 5,000 5,762 762 5,563 Permits 95,000 128,631 33,631, 111,987 '- Total licenses and permits 243,000 271,988 28,988 254,039 Intergovernmental revenue: •. Civil defense 16,000 9,279 (6,721) 15,435 Other federal grants 15,000 55,927 40,927 21,832 State maintenance aid 30,000 58,710 28,710 28,140 Attached machinery aid 15,875 15,875 17,058 .. Homestead credit 602,660 602,660 340,000 Local government aid 1,120,134 1,528,073 407,939 1,325,693 Other state grants 17,000 41 ,194 24,194 25,310 -- Police and fire pension 130,000 136,419 6,419 135,861 Local grants 60,000 (60,000) 48,823 Total intergovernmental revenue 2,006,669 2,448,137 441,468 1,958,152 Charges for services: General government 18,000 8,698 (9,302) 12,414 .„ Public safety 25,000 19,406 (5,594) 21,308 Conservation of health 20,000 9,708 (10,292) 19,291 Recreation 78,000 93,206 15,206, 92,538 Total charges for services 141,000 131,018 (9,982) 145,551 Fines and forfeits 112,350 197,766 85,416 146,334 - Interest on investments 260,000 277,480 17,480, 236,197 (Continued) -63- Exhibit B-3 Continued CITY OF FRIDLEY, MINNESOTA GENERAL FUND ., STATEMENT OF REVENUES AND OTHER FINANCING SOURCES - BUDGET AND ACTUAL Year Ended Deoember 31, 1983 With Comparative Actual Amounts for Year Ended December 31, 1982 1983 _ Variance- Favorable 1982 Budget Actual (Unfavorable) Actual Miscellaneous revenue: Rent income $ $ 106 $ 106 $ 8,252 Sale of property 15,750 29,109 13,359 113,236 - Donations 15,750 19,440 3,690 11,315 Miscellaneous refunds 10,500 11,567 1,067 5,690 Total miscellaneous revenue 42,000 60,222 18,222 138,493 Total revenue 5,232,259 , 5,879,711 647,452 5,271,285 Other financing sources: Operating transfers in - Municipal State Aid Fund 140,000 140,000 170,430 Revenue Sharing Fund 280,000 280,000 255,000 - Sears Fund 1,310 Special Assessment Revolving Fund 2,155 Liquor Fund 150,000 150,000 100,000 ,_ Total other financing sources 570,000 570,000 -0- 528,895 Total revenues and other financing sources $5,802,259 $6,449,711 1165.21E2 $5,800,180 -- -64- Exhibit B-4 -' CITY OF FRIDLEY, MINNESOTA GENERAL. FUND STATEMENT OF EXPENDITURES AND OTHER FINANCING USES - BUDGET AND ACTUAL -. Tear Ended December 31, 1983 With Comparative Actual Amounts for Tear Ended December 31, 1982 1983 Variance- - Favorable 1982 Budget Actual (Unfavorable) Actual General government: ._ Mayor and council - Personal services $ 62,697 $ 57,250 $ 5,447 $ 49,321 Supplies and other charges 27,950 27,311 639 22,810 90,647 84,561 6,086 72,131 Planning commission - Personal services 29,430 17,015 12,415 24,555 Supplies and other charges 9,106 3,175 5,931 4,337 38,536 20,190 18,346 28,892 Other commissions - - Personal services 7,746 7,666 80 5,214 Supplies and other charges 10,620 10,531 89 23,642 18,366 18,197 169 28,856 - City manager - Personal services 136,824 131,970 4,854 95,896 Supplies and other charges 45,695 45,449 246 43,953 182,519 177,419 5,100 139,849 Personnel - Personal services 30,357 23,564 6,793 29,190 Supplies and other charges 5,167 3,244 1,923 3,756 35,524 26,808 8,716 32,946 .. Legal - Personal services 6,222 6,213 9 2,171 Supplies and other charges 75,822 75,815 7 83,979 82,044 82,028 16 86,150 Elections - Personal services 32,546 23,652 8,894 27,626 Supplies and other charges 4,110 4,040 70 6,332 .. 36,656 27,692 8,964 33,958 Accounting - .- Personal services 134,169 130,385 3,784 122,087 Supplies and other charges 64,487 62,877 1,610 72,917 198,656 193,262 5,394 195,004 - Assessing - Personal services 142,906 104,573 38,333 118,506 Supplies and other charges 14,905 14,659 246 10,884 157,811_ 119,232 38,579 129,390 Total general government 840,759 749,389 91,370 747,176 - (Continued) -65- Exhibit B-4 Continued CITY OF FRIDLEY, MINNESOTA -- GENERAL FUND STATEMENT OF EXPENDITURES AND OTHER FINANCING USES - BUDGET AND ACTUAL Year Ended December 31, 1983 -" With Comparative Actual Amounts for Year Ended December 31, 1982 1983 Variance- Favorable 1982 -. Budget Actual (Unfavorable) Actual Public safety: Police - -- Personal services 1,541 ,613 1,498,697 42,916 $1,337,996 Supplies and other charges 202,169 189,361 12,808 187,041 1,743,782 1,688,058 55,724 1,525,037 Fire - Personal services 345,156 345,111 45 303,666 Supplies and other charges 67,020 66,976 44 64,735 412,176 412,087 89 368,401 -- Civil defense - Personal services 49,830 43,973 5,857 42,522 Supplies and other charges 7,288 4,716 2,572 4,036 -- 57,118 48,689 8,429 46,558 Total public safety 2,213,076 2,148,834 64,242 1,939,996 _ Civic center: Personal services 56,817 56,688 129 49,576 Supplies and other charges 100,122 100,020 102 66,317 156,939 156,708 231 115,893 Public works: Code enforcement - - Personal services 178,438 154,385 24,053 153,808 Supplies and other charges 27,724 23,350 4,3714 21,726 206,162 177,735 28,427 175,534 -- Planning - Personal services 73,619 62,032 11,587 126,809 Supplies and other charges 20,590 18,762 1,828 14,341 - 94,209 80,794 13,415 141 ,150 Engineering - Personal services 97,455 97,393 62 70,513 -" Supplies and other charges 28,4?7 28,454 23 20,380 125,932 125,847 85 90,893 Public works - Personal services 387,924 387,901 23 323,015 Supplies and other charges 409,662 408,587 1,075 399,283 797,586 796,488 1,098 722,298 -- Total public works 1,223,889 1,180,864 43,025 1,129,875 (Continued) -66- Exhibit B-4 Continued -- CITY OF FRIDLEY, MINNESOTA GENERAL FUND -- STATEMENT OF EXPENDITURES AND OTHER FINANCING USES - BUDGET AND ACTUAL Year Ended Deoember 31, 1983 With Comparative Actual Amounts for Year Ended Deoember 31, 1982 1983 Variance- - Favorable 1982 Budget Actual (Unfavorable) Actual Parks and recreation: Naturalist - Personal services 80,968 80,242 726 73,617 Supplies and other charges 24,494 23,162 1,332 21,750 105,462 103,404 2,058 95,367 Parks - Personal services 299,806 297,381 2,425 293,609 Supplies and other charges 280,779 170,120 110,659 208,730 580,585, 467,501 113,084 502,339 Recreation - - Personal services 284,607 245,297 39,310 223,324 Supplies and other charges 125,600 94,002 31,598 90,111 410,207 339,299 70,908 313,435 - Total parks and recreation 1,096,254 910,204 186,050 911,141 Debt service: Principal 14,845 • • Interest 1,188 Total debt service -0- -0- -0- 16,033 ,_ Reserve for contingencies 326,750 -0- 326,750 -0- Capital outlay expenditures - Other commissions 6,806 - City manager 4,300 2,862 1,438 2,176 Personnel Elections 300 300 Accounting 741 584 157 500 ,_ Assessing 400 395 5 Police 75,425 73,567 1,858 79,600 Fire 24,620 4,620 20,000 65,658 -- Civil defense 4,000 4,000 116 Civic °enter 38,500 21,161 17,339 442 Code enforcement 140 140 Planning 340 340 715 Engineering 700 445 255 1,083 Public works 83,239 4,397 78,842 79,778 Naturalist 6,677 6,059 618 2,034 -. Parks 136,001 109,540 26,461 128,701 Recreation 7,925 7,760 165 Total capital outlay 383,308 231,390 151,918 367,609 Total expenditures 6,240,975 5,377,389 863,586 5,227,723 (Continued) -67- Exhibit B-4 Continued CITY OF FRIDLEY, MINNESOTA GENERAL FUND STATEMENT OF EXPENDITURES AND OTHER FINANCING USES - BUDGET AND ACTUAL Year Ended December 31, 1983 With Comparative Actual Amounts for Year Ended December 31, 1982 1983 Variance- Favorable 1982 -- Budget Actual (Unfavorable) Actual Other financing uses: Operating transfers out - — Sears Fund $ 1,411 $ 1,411 $ $ University Avenue Bike/Walk Fund 975 959 16 Special Assessment Fund 123,114 122,760 354 196,033 Total other financing uses 125,500 125,130 370 196,033 Total expenditures and other financing uses $6,366,475 $5,502,519 $ 863,956 $5,423,756 - -68- SPECIAL REVENUE FUNDS Special revenue funds are used to account for revenues from specific sources. They are usually required by statute, ordinance or administrative action to finance particular activities of government. CITY OF FRIDLEY, MINNESOTA SPECIAL REVENUE FUNDS COMBINING BALANCE SHEET ..., December 31, 1983 With Comparative Totals for December 31, 1982 Municipal State Revenue Cable Aid Sharing TV Assets Cash $ 98,868 $ $ 6,253 Investments 1 ,008 ,525 59,630 Accounts receivable 11,860 -- Interest receivable Due from other funds Due from other governments 29,698 46,785 Total assets $1,137,091 $46,785 $77,743. Liabilities and Fund Balance Liabilities: Advance from city's general account $ $18,038 $ Accounts payable Deposits payable Contracts payable Due to other funds Total liabilities -0- 18,038 -0- Fund balance: Unreserved - Designated for subsequent year's expenditures 8,680 -- Undesignated 1,128,411 28,747_ 77,743 Total fund balance 1,137,091 28,747 77,743 Total liabilities and fund balance $1,137,091 $46,785 $77,743 -70- Exhibit C-1 Home Totals Ownership HRA 1983 1982 $ $ 358,347 $ 463,468 $ 576,121 585,816 1,653,971 2,226,057 .- 11,860 106,910 44,250 44,250 27,143 20,579 20,579 3,530 76,483 58,820 $ 20,579 $ 988,413 $2,270,611 $2,998,581 $ 20,571 $ $ 38,609 $ 34,550 8 8 82,535 10,850 10,850 10,000 35,879 35,879 47,879 20,579 20,579 156,236 20,579 67,308 105,925 331,200 8,680 113,100 921,105 2,156,006 2,554,281 -0- 921,105 2,164,686 2,667,381 $ 20,579 $ 988,413 $2,270,611 $2,998,581 -71- CITY OF FRIDLEY, MINNESOTA SPECIAL REVENUE FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES Year Ended December 31, 1983 With Comparative Totals for Year Ended Deoember 31, 1982 Municipal State Revenue Cable Aid Sharing TV Revenues: Licenses and permits $ $ $48,976 Intergovernmental revenue 228,291 187,358 -- Interest on investments 116,153 11,491 2,643 Miscellaneous Total revenues 344,444 198,849 51,619 — Expenditures: Current - — General government 650 46,760 Public works Capital outlay 270 Total expenditures -0- 650 47,030, —' Excess of revenues over expenditures 344,444 198,199 4,589 Other financing sources (uses): Operating transfers in Operating transfers out (359,933) (280,000) Total other financing sources (uses) (359,933) (280,000) -0- Excess (deficiency) of revenues and — other financing sources over expenditures and other financing uses (15,489) (81,801) 4,589 Fund balance January 1 1,152,580 110,548 73054 Fund balance December 31 $1037091 $ 28 74 $77,743 -- -72- Exhibit C-2 • Hone Totals Ownership HRA 1983 1982 $ $ $ 118,976 $ 106,910 56,160 63,028 534,837 273,088 114,292 244,579 245,792 110,612 110,612 41 ,401 56,160 287,932 939,004 667,191 47,410 82,258 56,160 177,141 233,301 192,118 219,924 220,194 1,474,528 56,160 397,065 500,905 1,748,904 -0- (109,133) 438,099 (1,081,713) 1 ,037,253 (300,861) (940,794) (490,835) -0- (300,861) (940,794) 546,418 -0- (409,994) (502,695) (535,295) 1,331,099 2,667,381 3,202,676 $ -0- $ 921,105 $2,164,686 $ 2,667,381 -73- Exhibit C-3 CITY OF FRIDLEY, MINNESOTA MUNICIPAL STATE AID SPECIAL REVENUE FUND COMPARATIVE BALANCE SHEET December 31, 1983 and 1982 1963 1982 Assets Cash $ 98,868 $ 48,648 Investments 1,008,525 1,092,268 Due from other governments 29,698 11,664 Total assets $1,137,091 $1,152,580 -" Fund Balance Fund balance: Unreserved - Designated for subsequent year's expenditures $ 8,680 $ 21,000 Undesignated 1,128,411 1,131,580 Total fund balance $1,137,091 $1,152,580 -74- Exhibit C-4 CITY OF FRIDLEY, MINNESOTA MUNICIPAL STATE AID SPECIAL REVENUE FOND STATEMENT OF REVENUES, EIPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL Year Ended December 31, 1983 With Comparative Actual Amounts for Year Ended December 31, 1982 1983 Variance- Favorable 1982 Budget Actual (Unfavorable) Actual Revenues: Intergovernmental - Minnesota state aid $ 205,700 $ 228,291 $ 22,591 $ 75,209 Interest on investments 70,000 116,153 46,153 121,277 Total revenues 275,700 344,444 68,744 196,486 Other financing sources (uses): Operating transfers in 20,000 (20,000) Operating transfers out - General Fund (140,000) (140,000) (170,430) Special Assessment Fund (176,700) (219,933) (43,233) (65,405) Total other financing sources (uses) (296,700) (359,933) (63,233) (235,835) Excess (deficiency) of revenues and other financing sources over expenditures and other financing uses (21,000) (15,489) 5,511 (39,349) — Fund balance January 1 1,152,580 1,152,580 1,191,929 Fund balance December 31 $1,1311580 $1,137,091 $ 5,511 $1,152,580 -75- Exhibit C-5 CITY OF IRIDLEY, MIINISOTA MINUS SHARING SPECIAL RETINUE FUND COMPARATIVE BALANCE SHIRT -" Deoe■ber 31, 1983 and 1982 1 2 Assets -- Cash $ $ 6,845 Investments 56,547 — Due from other governments 46,785 47.156 Total assets $462785 $110,548 — Liability and Fund Delano, Liability: Advance from city's general account $18,038 $ 'a Fund balance: Unreserved - Designated for subsequent year's expenditures 92,100' _, Undesignated 28,747 18,448 Total liability and fund balance $46,785 $110,548 - -76- Exhibit C-6 CM OF FRIDLEY, MINNESOTA REVENUE SHARING SPECIAL REVENUE FUND '- STATEMENT OF REVENUES, EXPENDITURES AND (RANGES IN FUND BALANCE - BUDGET AND ACTUAL Year Ended December 31, 1983 With Comparative Actual Amounts for Year Ended December 31, 1982 1983 Variance- Favorable 1982 Budget Actual (Unfavorable) Actual Revenues: Intergovernmental - Revenue sharing $ 180,900 $ 187,358 $ 6,458 $196,355 Interest on investments 7,000 11,491 4,491 24,578 Total revenues 187,900 198,849 10,949 220,933 Expenditures: General government - Supplies and other charges 129 -• Professional services 650 650 42 Total expenditures 650 650 -0- 171 Excess of revenues over expenditures 187,250 198,199 10,949 220,762 Other financing uses: Operating transfers out - General fund (280,000) (280,000) -0- (255,000) " Excess (deficiency) of revenues and other financing sources over expenditures and other financing uses (92,750) (81,801) 10,949 (34,238) Fund balance January 1 110,548 110,548 144:786 Fund balance December 31 $ 17,798 $ 28,747 $10,949 $110,548 -77- Exhibit C-7 CITY OF FRIDLEY, MINNESOTA CABLE TV SPECIAL REVENUE FUND COMPARATIVE BALANCE SHEET December 31, 1983 and 1982 1983 1982 Assets — Cash $ 6,253 $ Investments 59,630 -- Accounts receivable 11,860 106,910 Total assets $77•743 $106,910 — Liabilities and Fund Balance — Liabilities: Advance from city's general account $ $ 31,870 Accounts payable 1,886 — Total liabilities -0- 33,756 Fund balance: - Unreserved - undesignated 77,743 73,154 Total liabilities and fund balance $77,743 $106,910 — -78- Exhibit C-8 cm of FRIDLEY, MINNESOTA CABLE TV SPECIAL RETINUE FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL Tear Ended Deoember 31, 1983 With Comparative Actual Amounts for Tear Ended December 31, 1982 1983 Varianoe- Favorable 1982 Budget Actual (Unfavorable) Actual Revenues: Licenses - Cable TV $48,000 $48,976 $ 976 $106,910 Interest on investments 2,000 2,643 643 4,674 Total revenues 50,000 51,619 1,619 111,584 Expenditures: Current - General government Personal services 21,150 21,117 33 30,302 Supplies and other charges 28,580 25,643 2,937 51,785 Capital outlay 270 270 990 Total expenditures 50,000 47,030 2,970 83,077 Excess (deficiency) of revenues over expenditures -0- 4,589 4,589 28,507 Fund balance January 1 73,154 73,154 44,647 Fund balance December 31 $73,154 $77,743 $ 4,589 $ 73,154 -79- Exhibit C-9 CITE OF FRIDLEY, MINNESOTA HOME °HEIRSHIP SPECIAL REVENUE FUND COMPARATIVE BALANCE SHEET December 31, 1983 and 1982 1983 1982 Assets Due from other funds $20,579 $2,680 Liabilities and Fund Balance Liabilities: Advance from city's general account $20,571 $2,680 Accounts payable 8 Total liabilities 20,579 2,680 Fund balance: _ Unreserved - undesignated -0- -0- Total liabilities and fund balance $20,579 $2,680 -80- 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, 1983 With Comparative Actual Amounts for Year Ended December 31, 1982 1983 —` Variance- Favorable 1982 Budget Actual (Unfavorable) Actual Revenues: Intergovernmental - Housing Redevelopment Authority $ 56,500 $56,160 $(340) $374 Expenditures: Current - Am Public Works Personal services 51,000 50,826 174 102 Supplies and other charges 5,500 5,334 166 272 •- Total expenditures 56,500 56,160 340 374 Excess (deficiency) of revenues over expenditures -0- -0- -0- -0- Fund balance January 1 -0- -0- -0- .- Fund balance December 31 $ -0- $ -0- $ -0- $-0- ... -81- Exhibit C-11 CITY OF FRIDLEY, MINNESOTA HOUSING AID REDEVELOPMENT AUTHORITY SPECIAL REVENUE FUND -- COMPARATIVE BALANCE SHEET December 31, 1983 and 1982 1983 1982 Assets Cash $358,347 $ 520,628 Investments 585,816 1,077,242 Interest receivable 44,250 27,143 Due from other funds 850 Total assets $988013 $1,625,863 Liabilities and Fund Balance Liabilities: Accounts payable $ $ 80,649 — Deposits payable 10,850 10,000 Contracts payable 35,879 47,879 Due to other funds 20,579 156,236 _ Total liabilities 67,308 294,764 Fund balance: Unreserved - undesignated 921,105 1,331,099 Total liabilities and fund balance $988,413 $1,625,863 -82- 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, 1983 With Comparative Actual Amounts for Year Ended December 31, 1982 1983 Variance- Favorable 1982 Budget Actual (Unfavorable) Actual Revenues: Intergovernmental revenue: State credits $ 62,000 $ 63,028 $1,028 $ Housing Redevelopment Authority 1 ,150 Total intergovernmental revenue 62,000 63,028 1,028 1,150 ■- Fines and forfeits -0- -0- -0- -0- Interest on investments 114,000 114,292 292 95,263 Miscellaneous Revenue: Rent income 35,000 35,236 236 32,080 Sale of property 10,000 10,050 50 8,471 Other 65,000 65,326 326 850 Total miscellaneous revenue 110,000 110,612 612 41,401 Total revenues 286,000 _ 287,932 1,932 137,814 Expenditures: Current - Public works 177,272 177,141 131 191 ,744 Capital outlay 220,000 219,924 76 1,473,538 Total expenditures 397,272 397,065 207 1,665,282 Excess (deficiency) of revenues over expenditures (111,272) (109,133) 2,139 (1,527,468) Other financing sources (uses): Operating transfers in (out) - ^ Special Assessment Fund (300,000) (300,000) HRA Debt Service Fund (861) (861) 1,037,253 Total other financing sources (uses) (300,861) (300,861) -0- 1,037,253 Excess (deficiency) of revenues and other financing sources over expenditures and other financing uses (412,133) (409,994) 2,139 (490,215) •- Fund balance January 1 1,331,099 1,331,099 1,821,314 Fund balance December 31 $ 918,966 $ 921,105 $2,139 $ 1,331,099 -83- DEBT SERVICE FUNDS Debt service funds are used to account for the payment of principal and interest on all general obligation debt other than that payable from special assessments and debt issues for and serviced primarily by a governmental enterprise. Exhibit D-1 CITY OF FRIDLET, MINNESOTA DEBT SERVICE FUNDS COMBINING BALANCE SHEET December 31, 1983 With Comparative Totals for December 31, 1982 Totals City BRA 1983 1982 Assets Cash $ 7,996 $101,730 $109,726 $ 115,691 Investments 76,244 467,006 543,250 496,119 •- Receivables: Taxes Unremitted 232 2,331 2,563 207 Delinquent 1,711 13,247 14,958 5,617 Less: Estimated unoolleotable (1,711) (13,247) (14,958) (5,617) Total assets $84,472 $571,067 $655,539 $ 6� 12�017s Liability and Fund Balance Liability: Deferred revenue $ 232 $ 2,331 $ 2, 63 $ 207 Fund balance: Reserved for debt service 84,240 568,736 652,976 611,810 Total liability and fund balance $84,472 $571,067 1122412 $ 612,,0, 17 -85- Exhibit D-2 CITY OF FRIDLET, MINNESOTA DEBT SERVICE FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES Year Ended December 31, 1983 -- With Comparative Totals for Year Ended December 31, 1982 Totals City HRA 1983 1982 Revenues: Taxes $29,100 $ $ 29,100 $ 28,702 Tax increment 272,563 272,563 197,753 - Intergovernmental - Homestead credit 7,046 4,948 11,994 113,882 Interest on investments 5,181 47,174 52:355 129,544 Total revenues 41,327 324,685 366,012 469,881 Expenditures: Current - Debt service Principal retirement 35,000 35,000 30,000 Interest and fiscal charges 4,342 286,365 290,707 186,760 Total expenditures 39,342 286,365 325,707 216,760 -, Excess of revenues over expenditures 1,985 38,320 40,305 253,121 Other financing sources (uses): Operating transfers in (out) - HRA Fund 861 861 (1,037,253) Proceeds from general obligation bonds 1,211,907 Total other financing sources (uses) -0- 861 861 174,654 Excess of revenues and other financing sources over expenditures and other financing uses 1,985 39,181 41,166 427,775 Fund balance January 1 82,255 529,555 611,810 184,035 Fund balance December 31 $84,240 $568,736 $652,976 $ 611,810 -86- CAPITAL PROJECTS FUNDS Capital project funds are used to account for financial resources used for the acquisition of capital facilities and equipment by the City. CITY OF FRIDLEY, MINNESOTA CAPITAL PROJECTS FUNDS — COMBINING BALANCE SHEET December 31, 1983 With Comparative Totals for Deoeaber 31, 1982 — North Capital Park -- Improvement Visitation Sears Assets — Cash $ 117,986 $ 8,148 $ Investments 1,125,092 77,697 — Receivables: Accounts 25,000 Taxes Unremitted 283 — Delinquent 1,703 Less: Estimated uncollectable taxes (1,703) Due from other funds 25,000 Due from other governments Advance to Management Information Service Fund 100,000 Total assets $1,368,361 $852845 $ 25,000 -' Liabilities and Fund Balance — Liabilities: Advance from city's general account $ $ $ 28,405 Accounts payable 5,150 2,352 — Deferred revenue 283 Due to other governments Total liabilities 283 5,150 30,757 Fund balance: Reserved for advance to other fund 100,000 '- Unreserved - Designated for fixed asset replacement 1,268,078 Undesignated 80,695 (5,757) — Total fund balance 1,368,078 80,695 (5,757) Total liabilities and fund balance $1,368,361 $85=845 $ 25,000 -88- Exhibit E-1 University .- Avenue Totals Bike/Walk 1983 1982 $ $ 126,134 $ 182,458 1 ,202,789 1 ,466,585 25,000 283 140 1 ,703 2,397 (1,703) (2,397) 25,000 1 ,123 100,000 $-0- $1,479,206 $1,650,306 $ $ 28,405 $ 958 7,502 2,511 283 140 2,038 -0- 36,190 5,6117 100,000 1 ,268,078 1,197,517 74,938 447,142 -0- 1,443,016 1,61111,659 $-0- $1,1179,206 $1,650,306 -89- CITY OF FRIDLEY, MINNESOTA CAPITAL PROJECTS FUNDS COMBING STATEMENT OF REVENUES, EJENDITURES AND CHANGES IN FUND BALANCES Year Ended December 31, 1983 _ With Comparative Totals for Year Ended December 31, 1982 North Capital Park Improvement Visitation Sears Revenues: Taxes - Current ad valorem taxes $ 35,061 $ $ Delinquent ad valorem taxes 829 Total taxes 35,890 -0- -0- Intergovernmental revenue - Homestead credit 8,691 State grant Total intergovernmental revenue 8,691 -0- -0- — Interest on investments 125,980 8,284 14,514 Miscellaneous revenue - Donations 38,129 Other 500 _ Total miscellaneous revenue -0- 0— 18.629 Total revenues $170,561 $8,284 $53,143 (Continued) -90- Exhibit E-2 University Avenue Totals Bike/Walk 1983 1982 $ $ 35,061 $ 34,049 829 313 —0— 35,890 311,362 8,691 8,531 542 ._ —0— 8,691 9,073 —0— 148,778 153,484 38,129 75,000 500 —0— 38,629 75,000 —0— 231,988 271,919 -91- CITY OF FRIDLEY, MINNESOTA CAPITAL PROJECTS FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES (Continued) Year Ended December 31, 1983 With Caaparative Totals for Year Ended December 31, 1982 -, North Capital Park Improvement Visitation Sears Expenditures: Current - Capital projects Construction contracts $ $ $ 363,628 Engineering 8,353 31,053 Total expenditures -0- 8,353 394,681 Excess (deficiency) of revenues over expenditures 170,561 (69) (341,538) Other financing sources (uses): -- Operating transfers in (out) - General Fund 1,411 North Park Fund - North Park Visitation Fund Special Assessment Fund (31,843) Total other financing sources (uses) -0- -0- (30,432) Excess (deficiency) of -' revenues and other financing sources over expenditures and other financing uses 170,561 (69) (371,970) ., Fund balance January 1 1,197,517 80,764 366,213 Fund balance December 31 $1,368,078 $80,695 $ (5,757) -92- Exhibit E-2 Continued University Avenue Totals Bike/Walk 1983 1982 $ 363,628 $ 43,830 1,124 40,530 27,646 1,124 404,158 71,1176 (1,1211) (172,170) 200,443 959 2,370 (1,310) 244 (244) (31,843) (17,700) 959 (29,473) (19,010) .• (165) (201,643) 181,433 165 1,644,659 1,463,226 $ —0— $1,443,016 $1,644,659 -93- SPECIAL ASSESSMENT FUNDS Special assessment funds are set up to account for the construction of improvements or provision of services which are to be financed, wholly or in part, by special assessments levied against the benefited property. Exhibit F-1 CITY OF FRIDLEY, MINNESOTA SPECIAL ASSESSMENT FUNDS • COMBINING BALANCE SHEET December 31, 1983 With Comparative Totals For December 31, 1982 Special Totals Assessment Revolving 1983 1982 Assets "" Cash $ 727,758 $ 64,459 $ 792,217 $ 766,018 Investments 5,744,421 614,671 6,359,092 6,069,502 Receivables: Special Assessments Deferred 3,618,105 55,198 3,673,303 3,928,972 Delinquent 415,917 5,066 420,983 408,393 _ Less: estimated uncollectible (415,917) (5,066) (420,983) (408,393) Due from other governments 148,500 148,500 Total assets $10,238,784 $734,328 $10,973,112 $10,764,492 Liabilities and Fund Balance Liabilities: Accounts payable $ 12,404 $ $ 12,404 $ 775 Deposits payable 106,182 106,182 102,079 Contracts payable 29,364 29,364 86,282 Salaries payable 1 ,040 1,040 Deferred revenue 3,618,105 55,198 3,673,303 3,928,972 Bonds payable 4,535,000 4,535,000 5,325,000 Total liabilities 8,195,913 161,380 8,357,293 9,443,108 Fund balance: Reserved for encumbrances 269,933 269,933 121,753 Reserved for debt service 2,172,579 2,172,579 874,821 Unreserved - undesignated (399,641) 572,948 173,307 324,810 Total hind balance 2,042,871 572,948 2,615,819 1,321,384 Total liabilities and hind balance $10,238,784 $734,328 $10,973,112 $10,764,492 -95- Exhibit F-2 CITY OF FRIDLEY, MINNESOTA SPECIAL ASSESSMENT FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES December 31, 1983 With Comparative Totals For Year, Ended December 31, 1982 Special Totals Assessments Revolving 1983 1982 Revenues: Special assessments $ 698,776 $ 23,447 $ 722,223 $ 608,215 Intergovernmental revenue 141 ,662 141 ,662 86,006 -. Interest on investments 664,121 63,582 727,703 683,304 Interest and penalties on assessments 347,293 134 347,427 375,763 Miscellaneous 7,245 7,245 17,689 Total revenues 1,859,097 87,163 1,946,260, 1,770,977 Expenditures: Capital projects 865,008 865,008 682,656 -' Debt service - Interest and fiscal charges 448,291 448,291 396,146 Other - Discount on bonds issued 18,690 Total expenditures 1,313,299 -0- 1,313,299 1,097,492 Excess of revenues over '^ expenditures 545,798 87,163 632,961 673,485 Other financing sources (uses): -, Operating transfers in - General Fund 122,760 122,760 196,033 Municipal State Aid Fund 219,933 219,933 65,405 -- HRA Fund 300,000 300,000 Sears Fund 31,843 31,843 North Park Fund 17,700 Revolving Fund 9,215 Operating transfers out - General Fund (2,155) Public Utility Fund (13,062) (13,062) (8,360) Special Assessment Fund (9,215) Total other financing sources (uses) 674,536 (13,062) 661,474 268,623 ._ Excess of revenues and other financing sources over expenditures and -- other financing uses 1,220,334 74,101 1,294,435 942,108 Fund balance January 1 822,537 498,847 1,321,384 379,276 -. Fund balance December 31 $2,042,871, $572,948 $2,615,819 $1,321,384 -96- ENTERPRISE FUNDS Enterprise funds are set up to account for the acquisition and operation of governmental facilities and services that are entirely or predominately self-supporting from user charges. The City of Fridley operates the following enterprise activities: 1) Liquor - Off-Sale 2) Public Utility - Sanitary Sewer and Water Exhibit G-1 CITY OF FRIDLEY, MINNESOTA ENTERPRISE FUNDS - COMBINING BALANCE SHEET December 31, 1983 With Comparative Totals For December 31, 1982 Public Totals Liquor Utilities 1983 1982 Assets - Current assets: Cash $ 147,399 $ 304,624 $ 452,023 $ 446,689 Investments 515,751 2,580,719 3,096,470 3,093,702 Accounts receivable 538,584 538,584 394,411 Due from other governments 71,869 71,869 13,311 Inventories 191 ,307 3,982 195,289 206,289 Prepaid expenses 73,401 73,401 76,909 '- Total current assets 854,457 3,573,179 4,427,636 4,231,311 Long term receivable - Metropolitan Waste Control Commission -0- 351,566 351,566 367,773 Restricted assets (for debt service): -. Investments -0- 163,654 163,654 188,068 Property and equipment, at cost: Property and equipment 324,108 13,415,510 13,739,618 13,541 ,930 Less: Accumulated depreciation (100,389) , (1,640,583) (1,740,972) (1,645,969) Net property and equipment 223,719 11,774,927 11,998,646 11,895,961 Total assets $1,078,176 $15,863,326 $16,941,502 $16,683,113 Liabilities and Fund Equity Current liabilities: Accounts payable $ 84,989 $ 33,070 $ 118,059 $ 119,464 -. Salaries payable 2,925 5,457 8,382 6,300 Due to other funds 850 Due to other governments 5,665 3,303 8,968 50,856 .. Bonds payable 50,000 50,000 50,000 Total current liabilities 93,579 91,830 185,409 227,470 Long term liabilities: Bonds payable (net of current portion) -0- 170,000 170,000 220,000 Total liabilities 93,579 261,830 355,409 447,470 Fund equity: Contributed capital 10,166,680 10,166,680 10,166,680 Retained earnings - unreserved 984,597 5,434,816 6,419,413 6,068,963 Total fund equity 984,597 15,601,496 16,586,093 16,235,643 Total liabilities and fund equity $1,078,176 $15,863,326 $16,941,502 $16,683,113 -97- Exhibit G-2 CITY OF FRIDLEY, MINNESOTA - ENTERPRISE FUNDS COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS Year Ended December 31, 1983 - With Comparative Totals For Year Ended Deoember 31, 1982 Public Totals Liquor Utilities 1983 1982 - Sales and cost of sales: Sales $1,618,204 $ $1,618,204 $1,714,953 Cost of sales 1,303,551 1,303,551 1,374,894 Gross profit 314,653 -0- 314,653 340,059 - Operating revenues: Water sales and sewer rents 1,837,000 1,837,000 1,680,304 - Other 91 ,973 91 ,973 73,614 Total operating revenue -0- 1,928,973 1,928,973 1,753,918 Operating expenses: Personal services 197,736 .480,237 677,973 595,848 Supplies and other charges - Disposal charges 867,269 867,269 847,581 --Other 74,984 415,458 490,442 484,037 Depreciation 14,844 88,002 102,846 99,936 Total operating expenses 287,564 1,850,966 2,138,530 2,027,402 - Operating income 27,089 78,007 105,096 _Jim Nonoperating revenues (expenses): Intergovernmental revenue - - local grant 3,090 3,090 2,116 Interest on investments 62,038 311,800 373,838 378,550 Debt service (8,659) (8,659) (10,415) Other 13,258 765 14,023 22,686 -' Total non-operating revenues (expenses) 75,296 306,996 382,292 392,937 Income before extraordinary item and operating transfers 102,385 385,003 487,388 459,512 Extraordinary item 396,034 Income before operating transfers 102,385 385,003 487,388 855,546 - Operating transfers in (out): General Fund (150,000) (150,000) (100,000) Revolving Fund 13,062 13,062 8,360 - Total operating transfers (150,000) 13,062 (136,938) (91,640) Net income (loss) (47,615) 398,065 350,450 763,906 Retained earnings January 1 1,032,212 5,036,751 6,068,963 5,305,057 Retained earnings December 31 $ 9841597 $5,434,816 $6,419,413 $6,068,963 -98- Exhibit G-3 CITY OF FRIDLEY, MINNESOTA ENTERPRISE FUNDS COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION Year Ended December 31, 1983 With Comparative Totals For Year Ended December 31, 1982 Public Totals Liquor Utilities 1983 1982 Sources of working capital: Operations: -- Net income (loss) for the year $ (47,615) $398,065 $ 350,450 $ 763,906 Items not requiring working capital- depreciation 14,844 88,002 102,846 99,936 Working capital provided by operations (32,771) 486,067 453,296 863,842 Decrease in long term receivable 16,207 16,207 15,462 Net decrease in restricted assets 24,414 24,414 17,367 Total sources of working capital (32,771) 526,688, 493,917 896,671 Uses of working capital: ... Acquisition of property and equipment 469 205,062 205,531 141,013 Decrease in long term bonds payable 50,000 50,000 50,000 Decrease in deferred revenue 396,034 Total uses of working capital 469 255,062 255,531 587,047 Increase (decrease) in working capital $ (33,240) $271,626 $ 238,386 $ 309,624 Elements of increase (decrease) in working capital: Cash $ 82,828 $(31,267) $ 51,561 $ 136,605 Investments (115,091) 71,632 (43,459) 386,311 Receivables 144,173 144,173 77,250 Due from other funds (14,845) Due from other governments 58,558 58,558 (284,141) Inventories (11,848) 848 (11,000) 10,449 Prepaid expenses (3,508) (3,508) 6,630 Accounts payable 7,688 (6,283) 1,405 (16,036) ,! Contracts payable 877 Salaries payable (322) (1,760) (2,082) (1,001) Due to other funds 850 850 (850) Due to other governments 3,505 38,383 41 ,888 8,375 Increase (decrease) in working capital $ (33,240) $271,626 $ 238,386 $ 309,624 -99- Exhibit G-4 — CITY OF FRIDLEY, MINNESOTA LIQUOR ENTERPRISE FUND COMPARATIVE BALANCE SHEET December 31, 1983 and 1982 1983 1982 — Assets Current assets: — Cash $ 147,399 $ 83,750 Investments 515,751 611,663 Inventories 191 ,307 203,155 — Total current assets 854,457 898,568 Property and equipment, at cost: —, Land 66,961 66,961 Buildings 130,211 130,211 Improvements other than buildings 1,469 1 ,469 Machinery and equipment 125,467 124,998 — 324,108 323,639 Less: Accumulated depreciation (100,389) (85,545) Net property and equipment 223,719 238,094 — Total assets $1,078,176 $1,136,662 Liabilities and Fund Equity Current liabilities: Accounts payable $ 84,989 $ 92,677 Salaries payable 2,925 2,603 Due to other governments 5,665 9,170 Total liabilities 93,579 104,450 Fund equity: Retained earnings - unreserved 984,597 1,032,212 Total liabilities and fund equity $1 07.81 66 $1,1�36,6s62 -100- Exhibit G-5 CITY OF FRIDLEY, MINNESOTA LIQUOR ENTERPRISE FUND COMPARATIVE STATEMENT OF REVENUES, EXPENSES AND CHANGES II RETAINED EARNINGS Tears Ended December 31, 1983 and 1982 1983 1982 Sales and cost of sales: Sales $1,618,204 $1,714,953 Cost of sales 1,303,551 1,374,894 Gross profit 314,653 340,059 Operating expenses: Selling: Personal services 137,132 121,777 Supplies and other charges 10,864 5,625 Total selling expenses 147,996 127,402 Overhead: Supplies and other charges 50,802 49,179 Depreciation 14,844 15,534 Total overhead expenses 65,646 64,713 Administrative: Personal services 60,604 47,243 Supplies and other charges 13,318 20,226 Total administrative 73,922 67,469 Total operating expenses 287,564 259,584 Operating income 27,089 80,475 _. Non-operating revenues: Interest on investments 62,038 65,982 Other 13,258 22,146 Total non-operating revenues 75,296 88,128 Income before operating transfers 102,385 168,603 Operating transfer to General Fund (150,000) (100,000) -- Net income (loss) (47,615) 68,603 Retained earnings Janaury 1 1,032,212 963,609 Retained earnings December 31 4_90159T $1,032,212 -101- Exhibit G-6 CITY OF FRIDLEY, MINNESOTA LIQUOR ENTERPRISE FUND ._ COMPARATIVE STATEMENT OF CHANGES IN FINANCIAL POSITION Years Ended December 31, 1983 and 1982 1983 1982 Sources of working capital: Operations: Net income (loss) for the year $(47,615) $ 68,603 Items not requiring working —" capital - depreciation 14,844 15,534 Total sources of working capital (32,771) 84,137 -- Uses of working capital: Acquisition of property and equipment 469 43,560 Increase (decrease) in working capital $ (33,240) $ 40,577 Elements of increase (decrease) in working capital: Cash $ 82,828 $(103,478) — Investments (115,091) 144,879 Receivables (54) Inventories (11,848) 14,201 -_ Prepaid expenses Accounts payable 7,688 (16,136) Salaries payable (322) (911) Due to other governments 3,505 2,076 -- Increase (decrease) in working capital * (33,240) $ 40,577 -102- -' Exhibit G-7 �. CITY OF FRIDLET, MINNESOTA PUBLIC UTILITY ENTERPRISE FUND COMPARATIVE BALANCE SHEET '- December 31, 1983 and 1982 1983 1982 Assets Current assets: Cash $ 304,624 $ 362,939 Investments 2,580,719 2,482,039 Accounts receivable 538,584 394,411 Due from other governments 71,869 13,311 Inventories 3,982 3,134 Prepaid expense 73,401 76,909 Total current assets 3,573,179 3,332,743 Long-term receivable - Metropolitan Waste Control Commission 351,566 367:773 .- Restricted assets: Investments, at cost 163,654 188,068 Property and equipment, at cost: Land 154,881 154,881 Buildings 817,678 754,608 Improvements other than buildings 226,611 123,909 Machinery and equipment 2,049,660 2,018,213 Water and sewer lines 10,166,680 10,166,680 13,415,510 13,218,291 Less: Accumulated depreciation (1,640,583) (1,560,424) Net property and equipment 11,774,927 11,657,867 Total assets $15,863,326 $15,546,451 Liabilities and Fund Equity Current liabilities: Accounts payable $ 33,070 $ 26,787 Salaries payable 5,457 3,697 Due to other funds 850 Due to other governments 3,303 41 ,686 Bonds payable 50,000 50,000 Total current liabilities 91,830 123,020 Long term liabilities: Bonds payable (net of current portion) 170,000 220,000 Total liabilities 261,830 343,020 Fund equity: Contributed capital 10,166,680 10,166,680 Retained earnings - unreserved 5,434,816 5,036,751 Total fund equity 15,601,496 15,203,431 Total liabilities and fund equity $15,863,326 $15,546,451 -103- Exhibit G-8 CITY OF FRIDLEY, MINNESOTA PUBLIC UTILITY ENTERPRISE FUND COMPARATIVE STATEMENT OF REVENUES, — EXPENSES AND CHANGES IN RETAINED EARNINGS Years Ended December 31, 1983 and 1982 — 1983 1982 Operating revenues: Water sales and sewer rents $1,837,000 $1,680,304 Other 91,973 73,614 -- Total operating revenues 1,928,973 1,753,918 Operating expenses: — Personal services 480,237 426,828 Supplies and other charges - Disposal charges 867,269 847,581 Other 415,458 409,007 Depreciation 88,002 84,402 Total operating expenses 1,850,966 1,767,818 Operating inoome (loss) 78,007 (13,900) Non-operating revenues (expenses): — Intergovernmental revenue - local grant 3,090 2,116 Interest on investments 311,800 312,568 Debt service (8,659) (10,415) Other 765 540 -` Total non-operating revenues (expenses) 306,996 304,809 Income before extraordinary item and operating transfers 385,003 290,909 Extraordinary item - remaining balance of deferred gain from sale of sewer mains to Metropolitan Waste Control Commission -0- 396,034 — Inoome before operating transfers 385,003 686,943 Operating transfers from (to): -- Revolving Fund 13,062 8,360 Net income 398,065 695,303 — Retained earnings Janaury 1 5,036,751 4,341,448 Retained earnings December 31 #5, 134,816 $5,036,751 -104- Exhibit G-9 CITY OF FRIDLEY, MINNESOTA PUBLIC UTILITY ENTERPRISE FUND _ COMPARATIVE STATEMENT OF CHANGES If FINANCIAL POSITION Years Ended December 31, 1983 and 1982 '- 1983 1982 Sources of working capital: Operations: Net income for the year $398,065 $695,303 Items not requiring working capital - depreciation 88,002 84,402 Working capital provided by operations 486,067 779,705 Decrease in long term receivable 16,207 15,462 Net decrease in restricted assets 24,414 17,367 Total sources of working capital 526,688 812,534 Uses of working capital: Acquisition of property and equipment 205,062 97,453 Decrease in long term revenue bonds payable 50,000 50,000 Decrease in deferred revenue 396,034 Total uses of working capital 255,062 543,487 .. Increase in working capital $271,626 $269,047 r Elements of increase (decrease) in working capital: Cash $(31,267) $(44,878) Investments 71,632 241 ,432 Receivables 144,173 77,612 Due from other funds (14,845) Due from other governments 58,558 512 Inventories 848 (3,752) Prepaid expenses (3,508) 6,630 Accounts payable (6,283) 100 Contracts payable 877 Salaries payable (1,760) (90) Due to other funds 850 (850) �• Due to other governments 38,383 6,299 Increase in working capital $271,626 $269,047 -105- INTERNAL SERVICE FUNDS Internal service funds are set up to account for goods and services provided by designated departments on a cost reimbursement or fee basis to other departments and agencies within the City. Exhibit H-1 CITY OF FRIDLEY, MINNESOTA INTERNAL SERVICE FUNDS - COMBINING BALANCE SHEET December 31, 1983 With Comparative Totals for Year Ended December 31, 1982 Management Employee Information Totals Benefits Services 1983 1982 -- Assets Current assets: Cash $ 89,805 $ 47,825 $ 137,630 $ 87,019 Investments 816,196 77,913 894,109 491,238 Total current assets 906,001 125,738 1,031,739 578,257 Property and equipment, at cost: Machinery and equipment 78,917 78,917 Less: Accumulated depreciation (5,558) (59558) Net property and equipment -0- 73,359 73,359 -0- - Total assets $906,001 $199,097 $1,105,098 $578,257 Liabilities And Fund Equity Current liabilities: _ Accounts payable $ $ 39,655 $ 39,655 $ Leave payable 90,058 90,058 172,097 Due to other funds 25,000 25,000 Due to other governments 4,213 4,213 28,000 .. Total current liabilities 94,271 64,655 158,926 200,097 Long term liabilities: Advance from Capital Improvement Fund (net of current portion) -0- 100,000 100,000 -0- Total liabilities 94,271 164,655 258,926 _ 200,097 Fund equity: Retained earnings - Reserved 811,730 77,570 889,300 378,160 Unreserved (43,128) (43,128) Total find equity 811,730 34,442 846,172 378,160 Total liabilities and fund equity $906,001 $199,097 $1,105,098 $578,257 -107- Exhibit H-2 CITY OF FRIDLEY, MINNESOTA INTERNAL SERVICE FUNDS COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS Year Ended Deoenber 31, 1983 With Comparative Totals for Year Ended December 31, 1982 ,^ Mlanagement -- Employee Information Totals Benefits Servioes 1983 1982 Operating revenues: Charges for services $874,959 $40,000 $914,959 $686,643 Operating expenses: Benefit payments 558,282 558,282 711,653 Depreciation 5,558 5,558, Total operating expenses 558,282 5,558 563,840 711,653 -' Operating income (loss) 316,677 34,442 351,119 (25,010) Nonoperating revenues: Interest income 74,470 74,470 56,236 Refunds 42,423 42,423 33,457 Total non-operating revenues 116,893 -0- 116,893 89,693 Net income 433,570 34,442 468,012 64,683 ,_ Retained earnings January 1 378,160 -0- 378,160, 313,477 Retained earnings December 31 $811,730 $34,442 =846,172 $378,160 -` -108- Exhibit H-3 CITY OF FRIDLEY, MINNESOTA INTERNAL SERVICE F0NDS COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION Year Ended December 31, 1983 With Comparative Totals for Year Ended December 31, 1982 Management Employee Information Totals Benefits Services 1983 1982 Sources of working capital: Operations: Net income for the year $433,570 $ 34,442 $468,012 $ 64,683 Items not required working capital-depreciation 5,558 5,558 Working capital provided by operations 433,570 40,000 473,570 64,683 -. Advance due to other funds -0- 100,000 100,000 -0- Total sources of working capital 433,570 140,000 573,570 64,683 Uses of working capital: Acquisition of property and equipment -0-- 78,917 78,417 -0- Increase in working capital $433,570 $ 61,083 $494,653 $ -O- .. Elements of increase (decrease) in working capital: Cash $(23,788) $ 39,655 $ 15,867 $165,001 Investments 351 ,532 86,083 437,615 (98,316) Accounts receivable (118) ... Accounts payable (39,655) (39,655) Leave payable 82,039 82,039 26,116 Due to other funds (25,000) (25,000) Due to other governments 23,787 23,787 (28,000) Increase in working capital $433,570 $ 61,083 $494,653 $ 64,683 -109- Exhibit H-4 —' CITY OF FRIDLEY, MaNNESOTA EMPLOYEE BENEFITS INTERNAL SERVICE FUND ., COMPARATIVE BALANCE SHEET December 31, 1983 and 1982 1983 1982 Assets _ Cash $ 89,805 $ 87,019 Investments 816,196 491 ,238 Total assets $906,001 8 257 Liabilities and Fund Equity Liabilities: -- Leave payable $ 90,058 $172,097 Due to other governements 4,213 28,000 Total liabilities 94,271 200,097 Fund equity: Retained earnings - Reserved for employee benefits 811,730 378,160 Total liabilities and land equity $906,001 $578,257 -110- Exhibit H-5 CITY OF FRIDLEY, MINNESOTA EMPLOYEE BENEFITS INTERNAL SERVICE FUND COMPARATIVE STATEMENT OF REVENUES, EXPENSES AND CHANGES II RETAINED EARNINGS Years Ended Deoember 31, 1983 and 1982 1983 1982 Operating revenues: Charges for services $874,959 $686,643 Operating expenses: Benefit payments 558,282 711,653 Operating income (loss) 316,677 (25,010) Non-operating revenues: Interest income 74,470 56,236 Refunds 42,423 33,457 Total non-operating revenues 116,893 89,693 Net income 433,570 64,683 Retained earnings danaury 1 378,160 313,477 Retained earnings December 31 $811,730 $378,160 -111- Exhibit H-6 CITY OF FRIDLET, MIINNESOTA EMPLOYEE BENEFITS INTERNAL SERVICE FOND COMPARATIVE STATEMENT OF CHANGES IN FINANCIAL POSITION "- Years Ended December 31, 1983 and 1982 1983 1982 Sources of working capital: — Operations: Net income $433,570 $ 6k,683 Elements of increase (decrease) in working capital: Cash $(23,788) $ 165,001 Investments 351,532 (98,316) Accounts receivable (118) Leave payable 82,039 26,116 -- Due to other governments 23,787 (28,000) Increase in working capital $433,570 $ 64,683 - -112- ., Exhibit H-7 CITY OF FRIDL.EY, MINNESOTA MANAGE NT INFORMATION SERVICES INTERNAL =VICE FOND COMPARATIVE BALANCE SBRET December 31, 1983 and 1982 1983 1982 Assets Current assets: Cash $ 47,825 $ Investments 77,913 Total current assets 125,738 -0- Property and equipment, at cost: Machinery and equipment 78,917 Less: Accumulated depreciation (5,558) Net property and equipment 73,359 -0- Total assets $199,097 $-0- Liabilities and Find Equity Current liabilities: Accounts payable $ 39,655 $ Due to other funds 25,000 Total current liabilities 64,655 -0- Long term liabilities: Advance from Capital Improvement Fund (net of current portion) 100,000 -0- Total liabilities 164,655 -0- Fund equity: Retained earnings - Reserved for capital outlay 77,570 Unreserved (43,128) '- Total land equity 34,442 -0- Total liabilities and find equity $199,097 $-0- -113- Exhibit H-8 CITY OF FRIDLEY, MINNESOTA MANAGEMENT INFORMATION SERVICES INTERNAL SBRVIM FUND COMPARATIVE STATE) NT OF REVENUES, MENSES AND CHANGES II RETAINED EARNINGS Tears Ended December 31, 1983 and 1982 1983 1982 Operating revenues: Charges for service 640,000 6-0- Operating expenses: Depreciation 5,558 -0- Net income 34,442 -a -- Retained earnings January 1 -0- -0- Retained earnings December 31 $34:442 6-0- -114- Exhibit H-9 CITY OF FRIDLEY, MINNESOTA MANAGEMENT INFORMATION SERVICES INTERNAL SERVICE FUND COMPARATIVE STATEMENT OF CHANGES IN FINANCIAL POSITION Tears Ended December 31, 1983 and 1982 1983 1982 —' Sources of working capital: Operations: Net income for the year $ 34,442 $ Items not requiring working capital - depreciation 5,558 Working capital provided by operations 40,000 -0- Advance due to other funds 100,000 Total sources of working capital 140,000 -0- Uses of working capital: Acquisition of property and equipment 78,917 -0- Increase in working capital $ 61,083 Elements of net increase (decrease) in working capital: Cash $ 39,655 $ Investments 86,083 Accounts payable (39,655) Due to other funds (25,000) Increase in working capital $ 61,083 -115- TRUST AND AGENCY FUNDS Trust and agency funds are set up to account for the resources held by the City as a trustee or agent for other funds or entities. Exhibit I-1 CITY OF FRIDLEY, MINNESOTA TRUST AND AGENCY FUND COMPARATIVE BALANCE SST December 31, 1983 and 1982 1983 1982 Assets Cash $ 2,384 $ 1,480 Investments 21 ,211 13,892 Total assets $23,595 $15,372 Liabilities and Fund Balance .. Liabilities: Accounts payable $ 160 $ Deposits payable 21,153 15,202 Total liabilities 21,313 15,202 Fund balance: Unreserved - undesignated 2,282 170 Total liabilities and fund balance $23,595 $15,372 -117- Exhibit I-2 CITY OF FRIDLEY, MINNESOTA TRUST AND AGENCY FUND COMPARATIVE STATEMENT OF REVENUES, EXPENDITURES AND (GANGES IN FUND BALANCE Years Ended December 31, 1983 and 1982 1983 1982 Revenues: Interest on investments $2,112 $ 2,502 Expenditures: Personal services -0- 7,271 _ Excess (deficiency) of revenues over expenditures 2,112 0 ,769) Fund balance, Janaury 1 170 4,939 Fund balance, December 31 $2,282 $ 170 -118- 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 intergovernmental service fund. Exhibit J-1 CITY OF FRIDLEY, MINNESOTA COMPARATIVE STATEMENT OF GENERAL FIXED ASSETS - .. BY SOURCES December 31, 1983 and 1982 1983 1982 General fixed assets: Land $ 1,516,153 $ 1,516,153 Building 1,642,995 1,619,095 Improvements other than building 14,623,475 14,028,563 ._ Machinery and equipment 1,838,596 1,786,817 Construction in progress 1 ,772,781 1,314,882 Total general fixed assets $21,394,000 $20,265,510 Investment in general fixed assets from: Capital project funds: General obligation bonds $ 856,597 $ 856,597 Federal and state aid 794,052 794,052 General fund revenues 5,230,182 4,684,551 Special revenue fund revenues 1 ,438 990 Special assessments 13,301,252 12,722,177 Private gifts 684,285 684,969 Other sources 526,194 522,174 Total investment in general fixed assets $21,394,000 $20,265,510 -119- Exhibit J-2 CITY OF FRIDLEY, MINNESOTA SCHEDULE OF GENERAL FIXED ASSETS - BY FUNCTION AND ACTIVITY December 31, 1983 Improvements Machinery Other Than and Total Land Buildings Buildings Equipment ._ Function and activity General government City manager $ 35,638 $ $ $ $ 35,638 Accounting 77,809 77,809 Assessing 7,080 7,080 - Elections 18,658 18,658 Planning 12,333 12,333 Civic center 689,109 17,496 602,494 26,175 42,944 ._ Total general government 840,627 17,496 602494 26,175 194,462 Public safety _ Police protection 205,331 200 205,131 Fire protection 504,278 142,532 361,746 Inspectional services 17,044 17,044 Civil defense 27,192 27,192 -- Total public safety 753,845 -0- 142,732 -0- 611,113 Public works Engineering 45,769 45,769 Street improvements 8,168,566 5,764 8,162,802 Water, sewer and storm sewer 5,467,416 5,467,416 _ Traffic signal 126,455 126,455 City garage 1 ,010,736 97,940 _ 345,736 8,780 558,280 Total public works 14,818,942 103,704 345,736 13,765,453 604,049 Parks/Naturalist Parks 2,382,334 1 ,088,895 118,415 769,977 405,047 Naturalist 825,471 306,058 433,618 61,870 23,925 -- Total parks/naturalist 3,207,805 1,394,953 552,033 831,847 428,972 Total general fixed assets allocated to functions 19,621,219 $1,516,153 $1,642,995 14,623,475 $1,838,596 Construction in progress 1,772,781 Total fixed assets $21,394,000 -120- Exhibit J-3 CITY OF FRIDLEY, MINNESOTA SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS - - BY FUNCTION AND ACTIVITY Year Ended December 31, 1983 General General Fixed Fixed Assets Assets 1/1/83 Additions Deductions 12/31/83 Function and activity " General government City manager $ 35,528 $ 17,954 $ 17,844 $ 35,638 Accounting 90,071 816 13,078 77,809 .. Assessing 6,685 395 7,080 Elections 18,658 18,658 Planning 12,397 64 12,333 Civic center 667,135 21,974 689,109 Total general government 830,474 41,139 30,986 840,627 Public safety Police protection 186,908 73,567 55,144 205,331 Fire protection 500,358 4,620 700 504,278 Inspection services 17,044 84 84 17,044 ... Civil defense 27,192 27,192 Total public safety 731,502 78,271 55,928 753,845 Public works Engineering 45,474 604 309 45,769 Street improvement 7,782,402 386,164 8,168,566 Water, sewer and storm sewer 5,297,835 169,581 5,467,416 - Traffic signal 122,115 4,340 126,455 City garage 1 ,011,292 180 736 1,010,736 Total public works 14,259,118 560,869 1,045 14,818,942 Parks/Naturalist Parks 2,312,314 117,394 47,374 2,382,334 Naturalist 817,220 12,889 4,638 825,471 .. Total parks/naturalist 3,129,534 130,283 52,012 3,207,805 Construction in progress 1,314,882 1,522,297 1,064,398 1,772,781 Total general fixed assets $20,265,510 $2,332,859 $14204,369 $21,394,000 -121- 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, 1983 and 1982 1983 1982 Amount available and to be provided for the payment of general long-term debt Amount available in Debt Service Fund $ 652,976 $ 611,810 Amount to be provided by future taxes 2,877,024 2,953,190 Total available and to be provided $3,530,000 $3,565,000 General long-term debt payable General long-term debt payable: - General obligation tax increment redevelopment bonds $3,425,000 $3,425,000 Civic center bonds 105,000 140,000 Total general long-term debt payable $3,530,000 $3,565,000 -123- STATISTICAL SECTION Am lb a Table 1 CITY OF FRIDLEY, MINNESOTA GENERAL GOVERNMENTAL EZENDITORES BY FUNCTION (1) LAST TEN FISCAL TEARS Fiscal General Public Civic Public Parks and Debt Tear Goverment Safety Center Works Recreation Service Total 1974 $357,012 $ 893,201 $ 61,449 $ 675,381 $ 493,160 $ $2,480,203 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 1,414,165 910,204 325,707 5,752,417 Note (1) Includes General, Special Revenue, and Debt Service Funds -125- Table 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 -' 1974 $1,344,632 $179,142 $ 601,266 $ 58,243 $112,568 $2,295,851 -- 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 Note (1) Includes General, Special Revenue, and Debt Service Funds -- -126- -- Tabl e 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 Years Taxes Collected Years Taxes Ratio Fiscal Tax Levy During During During of Total Year For Fiscal Fiscal Fiscal Fiscal Total Collections Collected Period Period Period Period Collections to Tax Levy 1974 $1,389,672 $1,365,737 98.28 $18,974 $1,384,711 .9964:1 — 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 "" Note (1) Includes General Fund, Capital Improvement Fund, and Debt Service Fund -127- CITY OF FRIDLEY, MINNESOTA ASSESSED AND ESTIMATED MARKET VALUE OF ALL TAXABLE PROPERTY LAST TEN FISCAL YEARS Fiscal Year Payable 1974 .1975(2) 1976 1977 Assessment Year 1973 1974 1975 1976 Population, fiscal year 32,542 32,486 31,570 31,940 Real property: Estimated market value $294,415,529 $325,394,031 $367,264,013 $405,285,288 Assessor's limited market value $270,273,456 $288,949,935 $327,232,236 $363,541 ,172 Assessed value- Homestead $ 16,582,864 $ 17,104,208 $ 17,644,329 $ 19,607,606 Excess and non-homestead 84,043,948 90,832,944 105,665,396 117,424,505 -" Less area wide net allocation (3,140,753) (4,541 ,034) (4,812,211) Less tax-increment value Assessed value (taxable) $100,626,812 $104,796,399 $118,768,691 $132,219,900 -- Personal property: -- Estimated market value $ 17,323,420 $ 18,183,599 $ 18,073,064 $ 18,167,447 Assessor's value $ 15,902,900 $ 16,147,000 $ 16,103,100 $ 16,296,200 Assessed value (taxable) $ 6,838,247 $ 6,943,210 $ 6,924,333 $ 7,007,366 Totals: Estimated market value $311,738,949 $343,577,630 $385,337,077 $423,452,735 Limited market value $286,176,356 $305,096,935 $343,335,336 $379,837,372 Assessed value (taxable) $107,465,059 $111,739,609 $125,693,024 $139,227,266 ._ Per market value ratios Limited market value .918:1* .888:1* .891 :1• .897:1* Taxable value .345:1 .325:1 .326:1 .329:1 Per capita valuations Estimated market value $ 9,580 $ 10,576 $ 12,206 $ 12,689 Taxable value $ 3,302 $ 3,440 $ 3,981 $ 4,359 -- Note (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, 1982 upon which the 1983 levy was based was $211,928,738. (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 minus the net loss to the Fiscal Disparities Metro Tax Pool. -128- Table 4 1978 1979 1980 1981 1982(4) 1983 1977 1978 1979 1980 1981 1982 33,450 32,644 30,228 30,200 29,920 29,810 $456,038,596 $474,610,022 $555,096,298 $632,523,959 $723,016,622 $776,074,092 $408,865,261 $458,973,683 $522,308,032 $ N/A (3) $ N/A (3) $ N/A (3) $ 20,453,732 $ 21,633,558 $ 24,392,539 $ 59,013,036 $ 65,308,228 $ 94,445,737 124,640,289 134,204,943 141 ,946,084 121,92 4,290 142,031,048 126,066,013 (6,271,738) (7,376,217) (8,858,508) (10,022,598) (9,340,006) (13,120,471) (954,050) (2,708,711) (2,892,948) (3,951,300) $138,822,283 $148,462,284 $156,526,065 $168,206,017 $195,106,322 $203,439,979 $ 19,340,803 $ 17,424,500 $ 17,899,900 $ 18,731,800 $ 19,328,400 $ 19,741 ,300 $ 17,348,700 $ N/A (5) $ N/A (5) $ N/A (5) $ N/A (5) $ N/A (5) $ 7,459,941 $ 7,492,535 $ 7,696,957 $ 8,054,674 $ 8,311,212 $ 8,488,759 $475,379,399 $492,034,522 $572,996,198 $651 ,255,759 $742,345,022 $795,815,392 $426,213,961 $458,973,683 $522,308,032 $ N/A (3) $ N/A (3) $ N/A (3) $146,282,224 $155,954,819 $164,223,022 $176,260,691 $203,417,534 $211,928,738 .897:1* .968:1 .943:1 N/A (3) N/A (3) N/A (3) .308:1 .317:1 .287:1 .271:1 .274:1 .266:1 $ 14,212 $ 15,064 $ 18,988 $ 21,565 $ 24,811 $ 26,696 $ 4,373 $ 4,775 $ 5,433 $ 5,836 $ 6,799 $ 7,109 — (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 -129- CITY OF FRIDLEY, MINNESOTA STATEMENT OF VALUATIONS AND LEVIES BY CLASSES OF PROPERTY ., DECEMBER 31, 1983 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 $ 33,326,944 $ (8,457,782) Industrial 60,116,750 (14,608,898) F. M. C. #85 4,467,356 (1,307,112) Gas 1 ,285,012 (384,445) —" Electric 2,736,391 (743,260) P. U.* 420,115 (128,148) Vacant Land, residential 1,673,520 Apartments 22,878,294 Residential 102,096,127 Distribution (1) $12,509,174 Totals $229,000,509 $(25,629,645) $12,509,174 Notes *Public Utilities (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 .808% of the actual assessed value. This taxable value is multiplied by the applicable -- local mill rates. The remaining 11 . 192% of assessed value is multiplied by the Metro Mill Rate of 100.348 mills. This money goes into the Metro Pool. The City of Fridley received $178 ,606 from this pool in 1983. -130- Table 5 Assessed Dollars Valuation of Allocated to Adjusted Percent Certified Tax Increment Assessed of Total City Tax Financing Value City Tax Levy $ (370,562) $ 24,498,600 11.560 $ 364,290 45,507,852 21 .473 676,681 3,160,244 1.491 46,983 900,567 0.425 13,390 1 ,993,131 0.940 29,619 291 ,967 0.138 4,346 (29,703) 1,643,817 0.776 24,451 (3,477,179) 19,401,115 9.155 288,501 (73,856) 102,022,271 48.140 1,517,043 12,509,174 5.903 186,020 $(3,951,300) $211,928,738 100.00 $3,151,324 — 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. -131- NMO WNW CITY OF FRIDLEY, MINNESOTA SIGNIFICANT MINNESOTA TAX POLICIES DECEMBER 31, 1983 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" ($27,000 for taxes due in 1983) is assessed at 16%, the next 27,000 assessed at 22%, and the balance at 28%. The assessed value of a homestead residence with a market value of $54,000 would be $10,260 for taxes collectible in 1983 (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 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 58% 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 gross property tax to household income: To the extent a homeowners income ( 1% for lower income groups, up to 4% for incomes of $100,000 or more) , homeowners or renters may receive State credits up to $1,000 (combined homestead and income-adjusted credits). -133- 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) 1974 12.94 54.85 53.49 55.04 54.44 29.49 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 -- 1 977 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 •Vocational/Technical District No. 916 included in District No. 16 beginning in 1975. - **No Water Shed 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 1974 $1,390,598 $211,658 $1,332,878 $3,001,552 $1,314,940 $2,201,959 1975 1 ,662,685 268,717 1,414,161 3,417,636 1,617,961 2,482,854 -- 197'6 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 *Vocational/Technical District No. 916 included in District No. 16 beginning in 1975. - -134- - Table 6 Totals ., Total School School School School Special District District District District Districts No. 11ee No. 13 No. 14 No. 16 - (Mills) (Mills) (Mills) (Mills) (Mills) 2.89 100.17 98.81 100.36 99.76 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 87.96 91.48 89.83 106.58 4.36 85.99 89.47 89.11 99.07 4.057 91.295 92.714 90.813 109.990 4.649 91.170 96.307 101.830 108.988 Net Total Total Yearly Contribution Tax Total - Special All Local Percentage To Metro Incresent Tax Districts Tax Levies Increase Tax Pool Districts Levies - $297,343 $ 9,750,928 14% $ $ $ 9,750,928 520,369 11,384,383 17% 11,384,383 380,806 11,962,785 5% 11,962,785 ,_ 454,078 13,275,511 11% 13,275,511 426,450 14,123,848 6% 14,123,848 470,367 14,445,244 2% 922,702 15,367,946 542,080 15,397,663 7% 1,083,986 85,221 16,566,870 718,810 16,120,826 5% 1,113,318 193,763 17,427,907 779,684 19,406,757 20% 925,052 304,517 20,636,326 924,841 21,394,345 10% 1,402,913 340,539 23,137,797 -135- Tabl e 7 CITY OF FRIDLEY, MINNESOTA SPECIAL ASSESSMENT LEVIES AND COLLECTIONS LAST TEN FISCAL YEARS Total '- Outstand- ing Colleo- Delia- Colleo- Current Current Current tions to quent tions to and Assess- Assess- Amount Assess- Current Delinquent Fiscal ments cents Due cents Total Levy Assess- Year Due Collected (Percent) Collected Collected (Percent) cents 1974 $913,497 $742,105 81.24 $ 81,990 $824,095 90.21 $782,751. 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 99.23 420,984 -137- CITY OF FRIDLEY, MINNESOTA HISTORY OF CERTIFIED TAX LEVIES AND ACTUAL MILL RATES LAST TEN FISCAL YEARS 1974 1975 1976 1977 Certified tax levies General Fund $1,178,854 $1,624,144 $1,769,965 0,974,563 P.E.R.A. Fund 95,895 Fire Relief Association Fund Police Pension Association Fund 75,723 General Debt Service Funds 39,200 38,400 37,500 36,600 Capital Improvement Fund 46,596 45,920 -- Total $1,389,672 $1,6621544 0,854,061, $2,057,083 Actual mill rate General Fund 10.97 14.53 14.09 14.18 P.E.R.A. Fund .89 Fire Relief Association Fund Police Pension Association Fund .71 General Debt Service Funds .37 .35 .30 .27 Capital Improvement Fund .37 .33 Total 12.94 14.88 14.76 14.78 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 calculated, 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. -138- Table 8 1978 1979 1980 1981 1982 1983 $2,114,917 $2,264,856 $2,428,376 $2,684,615 $2,838,504 $3,070,254 41 ,000 39,900 38,800 38,570 37,352 36,300 43,401 43,368 45,000 44,770 44,770 44,770 821199,318 82 348:124 $2,512076 $2,767,955 $2,920 026 =alai 14.47 14.52 14.795 15.248 13.877 14.525 .28 .26 .274 .220 .183 .172 .30 .28 .237 .254 .218 .211 15.05 15.06 15.306 15.722 14.278 111.908 -139- 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 1974 32,542 $107,465,059 '$8,885,000 $42,898 $8,525,000 1975 32,486 111,739,609 9,385,000 45,519 9,050,000 1976 31,570 125,693,024 8,210,000 49,081 7,900,000 -.. 1977 31,940 139,227,266 6,775,000 51 ,125 6,490,000 1978 33,450 146,282,224 6,385,000 60,363 6,125,000 �' 1979 32,664 155,954,819 6,545,000 64,761 6,315,000 1980 30,228 164,223,022 6,105,000 69,888 5,905,000 1981 30,200 176,260,691 8,954,000 77,210 8,784,000 ,_ 1982 29,920 203,417,534 9,160,000 82,373 9,020,000 1983 29,810 211,928,738 8,285,000 84,472 8,180,000 -140- "- Table Percent of Net Bonded Debt To Total Aeaeeeed Net General Net General Value Bonded Debt Bonded Debt (Taxable) Per Capita $317,102 .30% $9.74 289,481 .26% 8.91 260,919 .21% 8.26 233,875 .17% 7.32 199,637 .14% 5.97 165,239 .11% 5.06 130,112 .08% 4.30 92,790 .05% 3.07 57,627 .03% 1.93 20,528 .01% .69 -141- Table 10 -, CITY OF FRIDLEY, MINNESOTA COMPUTATION OF LEGAL DEBT MARGIN DECEMBER 31, 1983 Assessed Value $229,000,509 -- (A) Debt Limit 6.667 Percent of Assessed Value $15,267,464 Amount of Debt Applicable to Debt Limit: Total Bonded Debt $8,285,000 . (B) Deductions: ., General Debt Service Fund Assets $ 84,472 Tax Increment Redevelopment Bonds 3,425,000 Special Assessment Bonds 4,535,000 -- Water Revenue and Improvement Bonds 220,000 8,264,472 Total Amount of Debt Appicable to Debt Limit 20,528 .- Legal Debt Margin $15,246,936 Notes .^ (A) M.S.A. Section 475.53 (see following page) (B) M.S.A. Section 475.51 (see following page) -142- CITE OF PRIME!, MINNESOTA COMPUTATION OF LEGAL DEBT MAMIE (CONTINUED) ISAR ENDED DES 31, 1983 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 deducting 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. (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 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." -143- Table 11 CITY OF FRIDLEY, MINNESOTA COMPUTATION OF DIRECT AND OVERLAPPING BONDED DEBT AND COMPARATIVE DEBT RATIOS DECEMBER 31, 1983 % 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 $ 8,285,000 $ 2,825,555 $ 5,459,445 100.00 $ 5,459,445 Overlapping debt: School Districts No. 11 $ 17,565,000 $ 1,542,683 $ 16,022,317 1.71 $ 273,982 ._ No. 13 1,985,000 1,344,626 640,374 32.15 205,880 No. 14 2,026,000 837,676 1,188,324 100.00 1,188,324 No. 16 10,976,955 3,169,274 7,807,681 42.45 3,314,361 Metro Transit 18,200,000 3,643,000 14,557,000 1.63 237,279 Metro Council 261,337,000 47,791 ,868 213,545,132 1.51 3,224,531 — Anoka County 8,920,000 730,260 8,189,740 20.58 1,685,448 Vocational/Technical District No. 916 4,355,000 428,978 3,926,022 2.30 90,299 Overlapping debt 325,364,955 59,488,365, 265,876,590 10,220,104 Total direct and overlapping debt $333,649,955- $62,313,920 $271,336,O35 $15,6792549 -144- Table 12 CITY OF FRIDm, MINNESOTA _ RATIO OF ANNUAL DEBT SERVICE BXPSNDITURBS FOR GENERAL BONDED DEBT TO TOTAL GENERAL GOVERNMENT EXPENDITURES LAST TEN FISCAL TEARS Ratio of Debt Total Total Service to Fiscal Debt General General Year Principal Interest Service Expenditures Expenditures 1974 $25,000 $ 12,685 $37,685 $2,520,672 .0150:1 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 -145- Table 13 CITY OF FRIDLEY, MINNESOTA RSYENDE BOND COVERAGE WATERWORKS BONDS 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 -- 1974 $1,145,027 $ 873,040 $ 271,987 $ 50,000 $38,980 $ 88,980 3.05 ._ 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 .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 .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 8,575 58,575 1.33 -146- Table 14 CITY OF FRIDLEY, MIINESOTA DEMOGRAPHIC STATISTICS LAST TEN FISCAL UAW Fiscal Per Capita Median Sobool Unemployment year Population (1) Inoome (3) Age (4) Enrollment (3) Rats (5) (6) 1974 32,542 5,141 (2) 22.7 8,983 3.5 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 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 -147- Table 15 CITY OF FRIDLEY, MINNESOTA CONSTRUCTION, BANK DEPOSITS AID PROPERTY VALUE LAST TEN FISCAL TEARS 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 1974 67 $ 4,354,649 321 $3,574,817 $11,002 $311,738,949 $ 29,418,855 $341 ,157,804 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 Source: —' (1) Fridley State Bank, Annual Financial Statement (2) Non-Taxable property is reevaluated by the county assessors every six years. -148- Table 16 CITY OF FRIDLEY, MINNESOTA PRINCIPAL TAXPAYERS DECEMBER 31, 1983 Fiscal Year 1983 1982 Percent Estimated of Total Markoet Assessed Rank Taxpayer Type of Business Value* Valuationi* 1. Medtronics, Inc. Electro-medical devices $ 18,598,500 8.62 2. Onan Corporation Portable electric generators 17,172,500 7.96 3. FMC Corporation Naval ordinance 15,881,000 7.37 4. Target Stores Discount store and warehouse 11,315,800 5.25 5. Maurice Fillister Georgetown apartments 8,740,700 4.05 _ 6. LaMaur, Inc. Cosmetics 6,720,300 3.12 7. Five Sands Development Meadowrun Apartments 5,246,000 2.43 - 8. Midland Cooperatives Warehousing oil and grain products 5,149,900 2.39 9. Carter-Day Air control equipment 4,767,600 2.21 10. Holiday Village Discount department store 4,739,400 2.20 11. Black Forest Apartments Apartments 4,319,000 2.00 12. Pillsbury Totino's Frozen foods 4,182,900 1.94 13. Rice Creek Townhouses Townhouses 3,990,400 1.85 14. Honeymead Products Linseed oil and grain products 3,923,100 1.82 -' 15. Wickes (Twin Stores) Discount furniture show/warehouse 2,763,300 1.28 Total 1117.510,400 54.49 Notes • The 1982 Estimated Market Value was used to determine the Taxable Value on January 2, 1982, upon which the 1983 levy was based. •* Before contribution to Metropolitan Tax Pool -149- CITY OF FRIDLEY, MINNESOTA INSURANCE COVERAGE DECEMBER 31, 1983 — All risk, direct physical loss coverage Buildings and contents, — Blanket real & personal property - 90% co-insurance $ 7,255,654 (except liquor store and stock) Liquor store 6289 Highway #65 152,322 Personal property (liquor stores) 71 ,020 —' Boiler insurance 500,000 Contractor's equipment, including miscellaneous property of $170,146 396,843 Signs (neon & city display) 16,148 -- General liability Bodily injury Each occurance 500,000 -- Aggregate 500,000 Property damage Each occurance 100,000 _ Aggregate 100,000 Excess liquor liablity Each occurance 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 occurance 500,000 Property Damage 100,000 Comprehensive and collision Passenger vehicles Actual cash value Other vehicles Actual cash value Police officer's liability Combined single liability 500,000 '- Punitive damages 25,000 Accidental death and dismemberment 10,000 Foundation for the Islands of Peace Miscellaneous small tools 4,595 Hired and non-owned auto Bodily injury 250,000 Each person Each occurance 500,000 Property Damage 100,000 Money and securities, inside and outside premises, all locations 15,000 Workers' compensation Statutory Public officials' liability 1 ,000,000 — PRZICIPAL OFFICIALS' BONDS DECEMBER 31, 1983 Nasim M. Qureshi City Manager $50,000 Sidney C. Inman City Clerk 1,000 Treasurer 50,000 -- BRA 50,000 All employees are covered by a blanket of faithful performance bond of $100,000 -150- CITY OF FRIDLEY, MINNESOTA CITY CAPITAL IMPROVEMENT FINANCING POLICY DECEMBER 31, 1983 The policy of the City of Fridley regarding financing of major capital improvements is as follows: Street, Curb and Gutter, Sidewalk and Storm Sewer Improvements AMMI 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 Sewer Improvements Water and sewer lateral improvments 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, Pueping 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 31,1983 was $105,000. 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 annually for such items, the City started a Capital Improvement Fund in 1976. The balance in this fund on December 31, 1983 was $1,368,078. 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 1983, 33% of Revenue Sharing funds were used for capital outlay items, 23% for other expenses and 44% for personal services. -151- CITY OF FRIDLEY, MINNESOTA MISCELLANEOUS STATISTICAL INFORMATION DECEMBER 31, 1983 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 - Mayor, and one Councilmember at Large November 8, 1983 -- Registered voters 16,768 Number of votes cast 3,999 Percent (%) of registered voters voting 23.8% -, Population 1950 Federal Census 3,796 _ 1960 Federal Census 15,182 1965 Special 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 Permanent Employees-Aa of December 31 Number -' 1974 123 1975 130* -- 1976 129* 1977 148* 1978 141* 1979 122 1980 126 1981 129 1982 123 1983 119 *Includes CETA employees -152- CITY OF FRIDLEY, MINNESOTA M S((mL.LAISOOS STATISTICAL INFORMATION (CONTINUED) —' DECEMBER 31, 1983 -� 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 121.98 Trunk highways 10.8 County roads 14.56 Sidewalks 10.98 Miles of sewer Storm 38.04 Sanitary 99.75 Miles of water mains 104.36 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, 1983 7,959 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, 1983 8,064 -- Average daily flow (includes infiltration/inflow) 3.13 million gallons -153- CITY OF FRIDLEY, MINNESOTA MISCSL WWEDOUS STATISTICAL INFORMATION (CONTINUED) DECEMBER 31, 1983 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 Wading pools 0 0 0 Picnic grounds 2 0 2 Day camp sites 1 0 1 Baseball diamonds 5 It 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 -154- CITY OF FRIDLEY, MINNESOTA GENERAL IN?ORMATION DECEMBER 31, 1983 .- Location - Transportation The City of Fridley, with a total land area of eleven square miles and an estimated population of 29,810, 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, the major portion of the City located within Fridley Independent School District No. 14. The Fridley School District operates three elementary schools, a junior high and senior high school, employing 123 certified personnel in the education of about 3,038 students. Grace Parochial High School has an enrollment of 1 ,003. Portions of the Columbia Heights School District (13) , the Spring Lake Park School Distret (16) and Anoka/Hennepin School District (11) also lie within the City of Fridley. Those districts have an enrollment of 2,200 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. -155- CITY OF FRIDLEY, MINNESOTA GENERAL INFORMiATION (CONTINUED) DECEMBER 31, 1983 Larger Employers Larger employers in the City of Fridley include: No. of .., Employer Product or Service Employees FMC Corporation Pumps and naval ordinance 3,800 Medtronics, Inc. Eleetro-medical devices and hdqtrs. 1 ,868 Onan Corporation Portable generators, electronic 1,850 equipment Burlington Northern Railroad Northtown Yard 1,100 — Unity Hospital Medical services 1 ,043 Target Stores, Warehouse Discount store and warehouse 718 LaMaur, Inc. Cosmetics 504 _ Kurt Manufacturing Machine parts 400 Holiday Village North Discount department store 325 Independent School District #14 Fridley School District 315 Minco Products, Inc. Electronic devices 280 -- Totino's Finer Foods Frozen foods 260 Carter-Day Company Air control equipment 250 Safetran Systems Corporation Railroad accessories 241 _ Barry Blower Manly Company Air moving devices 200 Holly Shopping Center Retail and service establishments 200 Midland Cooperatives Warehousing and oil blending plant 150 Strite-Anderson Manufacturing Aluminum die castings 150 City of Fridley Governmental Entity 119 Longview Fiber Company Packaging supplies 114 Dealers Manufacturing Company Remanufacturing auto parts 110 — Webb Printing (under const.) Printing TV Guide 100 Honeymead Products Linseed oils 63