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06/23/2017 City of Fridley Summary Financial Report AFFIDAVIT OF PUBLICATION STATE OF MINNESOTA )ss COUNTY OF ANOKA Charlene Vold being duly sworn on an oath, states or affirms that he/she is the Publisher's Designated Agent of the newspaper(s)known as: SF Columbia Heights/Fridley with the known office of issue being located in the county of: ANOKA with additional circulation in the counties of: ANOKA and has full knowledge of the facts stated below: (A)The newspaper has complied with all of the requirements constituting qualifica- tion as a qualified newspaper as provided by Minn. Stat.§331A.02. (B)This Public Notice was printed and pub- lished in said newspaper(s) once each week, for 1 successive week(s); the first insertion being on 06/23/2017 and the last insertion being on 06/23/2017. MORTGAGE FORECLOSURE NOTICES Pursuant to Minnesota Stat. §580.033 relating to the publication of mortgage foreclosure notices: The newspaper complies with the conditions described in §580.033, subd. 1, clause (1) or(2). If the newspaper's known office of issue is located in a county adjoining the county where the mortgaged premises or some part of the mortgaged premises described in the notice are located, a substantial portion of the newspaper's circulation is in the latter county. By: ouo� V U Designated Agent Subscribed and sworn to or affirmed before me on 06/23/2017 by Charlene Vold. Notary Public IV1AAAA DARLENE MARIE MACPHERSON Notary Public-Minnesota 1, V V my Commission Expires Jan 31,2019 Rate Information: (1)Lowest classified rate paid by commercial users for comparable space: $25.40 per column inch Ad ID 702220 CITY OF FRIDLEY,MINNESOTA SUMMARY FINANCIAL REPORT The purpose of this report is to provide a summary of financial information concerning the City of Fridley,Minnesota to interested citizens. The complete financial statements may be examined at the City Hall,6431 University Ave NE. It can also be found on our website at www.FridleyMN.gov. Questions about this report should be directed to the Finance Director at(763)572-3520. REVENUE AND EXPENDITURES FOR GENERAL OPERATIONS (GOVERNMENTAL FUNDS) FOR THE YEAR ENDING DECEMBER 31,2016 and 2015 Percent Increase Revenues: 2016 2015 (Decrease) Taxes $12,244,211 $11,805,580 3.72% Special assessments 865,722 542,248 59.65% Licenses and permits 1,442,895 1,549,785 -6.90% Intergovernmental revenue 7,330,338 4,375,972 67.51% Charges for services 2,592,665 2,374,896 9.17% Fines and forfeits 212,635 184,940 14.98% Investment income 254,379 157,281 61.74% Miscellaneous 887.678 429,713 106.57% Total revenues __$25,830,523 $21,420,415 20.59% Per capita 886 764 16.02% Expenditures: Current: General government $3,924,877 $3,777,688 3.90% Public safety 7,537,051 7,319,564 2.97% Public works 2,824,319 3,575,252 -21.00% Community development 942,768 1,081,549 -12.83% Parks and recreation 1,341,444 1,288,684 4.09% Debt service 1,345,121 1,350,356 -0.39% Capital outlay 8,618,369 3.645.425 136.42% Total Expenditures $26.533.949 $22,038.518 20.40% Per capita 911 786 15.84% Total general obligation long-term indebtedness $3,110,000 $4,340,000 -28.34% Per capita 107 155 -31.05% Governmental funds unassigned fund balance as of December 31 $9,056,654 $8,815,156 2.74% Per capita 311 314 -1.15% CITY OF FRIDLEY,MINNESOTA STATEMENT OF NET POSITION PROPRIETARY FUNDS DECEMBER 31,2016 Assets: Liquor Water Sewer Storm Water Totals Current assets: Cash and cash equivalents $169,069 $7,340,404 $1,677,086 $2,024,475 $11,211,034 Accounts receivable - 1,308,402 1,501,021 352,025 3,161,448 Special assessments receivable 15,302 - 23,542 38,844 Due from other governments - 300 4,623 277,780 282,703 Prepaid Items - 343,091 - 343,091 Inventories,at cost 662.581 387,257 1,049.838 Total current assets 831,650 9.051,665 3,525,821 2 677 822 16,086,958 Noncurrent assets: Capital assets: Land 151,946 154,531 - - 306,477 Buildings and structures 182,595 3,442,889 8,770 - 3,634,254 Improvements other than buildings 886,327 9,665,662 2,906,353 2,066,534 15,524,876 Machinery and equipment 229,126 2,000,033 986,439 378,921 3,594,519 Infrastructure - 11,810,156 7,289,123 8,270,929 27,370,208 Construction in progress 14.180 1.811 15.991 Total capital assets 1,449,994 27,087,451 11,190,685 10,718,195 50,446,325 Less: Allowance for depreciation (849.452) (15.860.331) (7.700,075) (6.210.935) (30.620.793) Net capital assets 600,542 11,227,120 3,490,610 4,507,260 19,825,532 Total noncurrent assets 600,542 11,227,120 3,490,610 4 507 260 19,825,532 Total assets 1,432,192 20,278.785 7,016.431 7.185.082 35,912,490 Liabilities: Current liabilities: Accounts payable 335,459 161,389 20,951 4,216 522,015 Accrued interest payable - 129,063 5,021 3,766 137,850 Contracts payable - 69,546 - 69,546 Due to other governments 56,091 243,266 338,203 637,560 Salaries payable 10,827 13,236 6,502 9,206 39,771 Unearned Revenue - 2,545,000 30,000 25,000 2,600,000 Bonds payable-current 665 665 Total current liabilities 403,042 3,161,500 400,677 42.188 4,007,407 Noncurrent liabilities: Other post employment benefits 22,438 34,932 24,535 2,885 84,790 Bonds payable-noncurrent 7,601,935 350 000 260,000 8,211,935 Total noncurrent liabilities 22,438 7,636,867 374 535 262,885 8,296,725 Total liabilities 425.480 10.798.367 775.212 305,073 12.304,132 Net position: Net invested in capital assets 600,542 5,980,022 3,110,610 4,222,260 13,913,434 Unrestricted 406,170 3,500,396 3 130 609 2,657,749 9 694 924 Total net position $1,006.712 $9.480,418 $6.241.219 $6.880.009 $23,608.358 CONTINUED... CITY OF FRIDLEY,MINNESOTA (CONTINUED)SUMMARY FINANCIAL REPORT CITY OF FRIDLEY,MINNESOTA STATEMENT OF REVENUES,EXPENSES AND CHANGES IN NET ASSETS PROPRIETARY FUNDS FOR THE YEAR ENDED DECEMBER 31,2016 Liquor Water Sewer Storm Water Totals Sales $5,439,423 $- $- $- $5,439,423 Cost of sales (3,976,342) (3,976 342) Gross profit 1,463,081 1 463 081 Operating revenues: Customer billings - 3,315,113 5,298,995 1,324,409 9,938,517 Charges for services 50 - - 50 Other revenues 15,187 51 15,238 Total operating revenues 3 330,350 5,298,995 1 324 460 9,953,805 Total gross profit and operating revenues 1,463,081 3,330,350 5.298,995 1.324,460 11.416,886 Operating expenses: Personal services 502,985 641,659 327,980 444,384 1,917,008 Supplies and other charges: Disposal charges - - 3,957,102 - 3,957,102 Other 441,367 1,269,691 436,721 303,845 2,451,624 Depreciation 85,817 824,553 298,194 273,138 1,481,702 Total operating expenses 1,030,169 2.735 903 5,019,997 1 021 367 9,807,436 Operating income(loss) 432.912 594,447 278.998 303,093 1.609,450 Nonoperating revenues(expenses): Intergovernmental revenue - - 64,644 189,698 254,342 Interest and dividends (1,584) 46,954 14,231 22,406 82,007 Net change in the fair value of investments 66 4,561 3,324 5,755 13,706 Insurance reimbursement - (212,405) (12,125) (9,100) (233,630) Interest expense - (94,336) - (94,336) Other 405 1.453 1,858 Total nonoperating revenues(expenses) (1,113) (255,226) 70.074 210.212 23,947 Income i,ss)before transfers 431,799 339,221 349,072 513,305 1,633,397 Transfers and Capital Contributions: Transfers out (338,500) - - - (338,500) Capital contributions-intergovernmental Total transfers and contributions (338,500) - - - (338,500) Change to net position 93,299 339,221 349,072 513,305 1,294,897 Net position-January 1 913,413 9.141,197 5,892,147 6.366.704 22,313.461 Net position-December 31 $1,006,712 $9,480,418 $6,241,219 $6,880,009 $23.608,358 CITY OF FRIDLEY.MINNESOTA STATEMENT OF CASH FLOWS PROPRIETARY FUNDS FOR THE YEAR ENDED DECEMBER 31,2016 Liquor Water Sewer Storm Water Totals Cash flows from operating activities: Receipts from customers and users $5,445,845 $3,156,934 $5,169,349 $1,323,358 $15,095,486 Payment to suppliers (4,480,741) (1,391,546) (4,762,258) (308,181) (10,942,726) Payment to employees (498,317) (636,360) (325,438) (440,642) (1,900,757) Operating contributions 405 405 Net cash flows from operating activities 467,192 1,129,028 81 653 574,535 2,252,408 Cash flows from noncapital financing activities: Operating grants - - 64,644 2.907 67,551 Transfers out (338,500) (338,500) Net cash flows from noncapital financing activities (338,500) 64,644 2,907 (270,949) Cash flows from capital and related financing activities Acquisition of capital assets (95,859) (1,162,008) (48,440) (511,330) (1,817,637) Capital Grants - - 1,453 1,453 Principal received on special assessments 6,072,714 6,072,714 Insurance reimbursement (555,000) (30,000) (25,000) (610,000) Principal paid on revenue bonds (154,143) (12,500) (9,412) (176,055) Interest and paying agent fees on revenue bonds (179.4971 (13,400) (10,163) (203.0601 Net cash flows from capital and related financing activities (95,859) 4,201,563 (90,940) (544,289) 3,470,475 Cash flows from investing activities: Investment income (1,518) 51,515 17,555 28.161 95,713 Net increase(decrease)in cash and cash equivalents 31,315 5,382,106 72,912 61,314 5,547,647 Cash and cash equivalents-January 1 137,754 1,958,298 1.604.174 1,963.161 5,663,387 Cash and cash equivalents-December 31 $169,069 $7.340,404 $1,677,086 $2,024,475 $11,211,034 Current cash and cash equivalents Current assets $169,069 $7,340,404 $1,677,086 $2,024,475 $11,211,034 Restricted assets Total cash and cash equivalents-December 31 $169.069 $7,340.404 $1,677,086 $2,024,475 $11,211,034 Published in the Columbia Hgt-Fridley Sun Focus June 23,2017 702208&702220