HomeMy WebLinkAbout2015 Annual Financial Report
CITY OF OAK PARK HEIGHTS, MINNESOTA
ANNUAL FINANCIAL REPORT
December 31, 2015
CITY OF OAK PARK HEIGHTS, MINNESOTA
TABLE OF CONTENTS
Page
ReferenceNo.
INTRODUCTORY SECTION
Elected and Appointed Officials3
FINANCIAL SECTION
Independent Auditor's Report7
Management's Discussion and Analysis11
Basic Financial Statements:
Government-Wide Financial Statements:
Statement of Net PositionStatement 125
Statement of ActivitiesStatement 226
Fund Financial Statements:
Balance Sheet - Governmental FundsStatement 328
Statement of Revenues, Expenditures and Changes in Fund Balance -
Governmental FundsStatement 430
Reconciliation of the Statement of Revenues, Expenditures and Changes in
Fund Balances of Governmental Funds Statement 532
Statement of Net Position - Proprietary FundsStatement 633
Statement of Revenues, Expenses and Changes in Fund Net Position -
Proprietary FundsStatement 734
Statement of Cash Flows - Proprietary FundsStatement 835
Statement of Fiduciary Net Position - Agency FundsStatement 936
Notes to Financial Statements37
Required Supplementary Information:
Budgetary Comparison Schedule - General FundStatement 1070
Schedule of Proportionate Share of Net Pension Liability - General Employees
Retirement FundStatement 1174
Schedule of Pension Contributions - General Employees Retirement FundStatement 1275
Schedule of Proportionate Share of Net Pension Liability - Public Employees Police
and Fire FundStatement 1376
Schedule of Pension Contributions - Public Employees Police and Fire FundStatement 1477
Notes to RSI78
Combining and Individual Nonmajor Fund Financial Statements:
Combining Balance Sheet - Nonmajor Governmental FundsStatement 1582
Combining Statement of Revenues, Expenditures and Changes in Fund Balance -
Nonmajor Governmental FundsStatement 1683
CITY OF OAK PARK HEIGHTS, MINNESOTA
TABLE OF CONTENTS
Page
ReferenceNo.
Subcombining Balance Sheet - Nonmajor Special Revenue FundsStatement 1784
Subcombining Statement of Revenues, Expenditures and Changes in
Fund Balance - Nonmajor Special Revenue FundsStatement 1885
Subcombining Balance Sheet - Nonmajor Debt Service FundsStatement 1986
Subcombining Statement of Revenues, Expenditures and Changes in
Fund Balance - Nonmajor Debt Service FundsStatement 2087
Subcombining Balance Sheet - Nonmajor Capital Project FundsStatement 2188
Subcombining Statement of Revenues, Expenditures and Changes in
Fund Balance - Nonmajor Capital Project FundsStatement 2290
Agency Funds:
Subcombining Balance SheetStatement 2392
Subcombining Statement of Changes in Assets and LiabilitiesStatement 2493
STATISTICAL SECTION (UNAUDITED)
Financial Trends:
Net Position by Component - Last Ten Fiscal YearsTable 196
Changes in Net Position - Last Ten Fiscal YearsTable 298
Fund Balances, Governmental Funds - Last Ten Fiscal YearsTable 3102
Changes in Fund Balances, Governmental Funds - Last Ten Fiscal YearsTable 4104
Revenue Capacity:
Tax Capacity Value and Estimated Market Value of Taxable PropertyTable 5106
Direct and Overlapping Property Tax Capacity RatesTable 6108
Principal Property TaxpayersTable 7109
Property Tax Levies and CollectionsTable 8110
Debt Capacity:
Ratios of Outstanding Debt by TypeTable 9111
Direct and Overlapping Governmental Activities DebtTable 10112
Legal Debt Margin InformationTable 11113
Pledged Revenue CoverageTable 12114
Demographic and Economic:
Demographic and Economic StatisticsTable 13115
Principal EmployersTable 14117
Operating Information:
Full-Time Equivalent City Government Employees By Function/ProgramTable 15118
Operating Indicators by Function/ProgramTable 16120
Capital Asset Statistics by Function/ProgramTable 17122
INTRODUCTORY SECTION
CITY OF OAK PARK HEIGHTS, MINNESOTA
ELECTED AND APPOINTED OFFICIALS
December 31, 2015
Term Expires
Mayor:
Mary McComberDecember 31, 2016
Councilmembers:
Chuck DoughertyDecember 31, 2016
Mike LilijegrenDecember 31, 2018
Mike RunkDecember 31, 2016
Mark SwensonDecember 31, 2018
Administrator:
Eric JohnsonAppointed
Finance Director:
Betty CarusoAppointed
FINANCIAL SECTION
INDEPENDENT AUDITOR'S REPORT
To the Honorable Mayor and
Members of the City Council
City of Oak Park Heights, Minnesota
Report on the Financial Statements
We have audited the accompanying financial statements of the governmental activities, the
business-type activities, each major fund, and the aggregate remaining fund information of the
City of Oak Park Heights, Minnesota, as of and for the year ended December 31, 2015, and the
related notes to the financial statements, which collectively comprise City of Oak Park Heights,
Minnesota’s basic financial statements as listed in the table of contents.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements
in accordance with accounting principles generally accepted in the United States of America;
this includes the design, implementation, and maintenance of internal control relevant to the
preparation and fair presentation of financial statements that are free from material misstatement,
whether due to fraud or error.
Auditor’s Responsibility
Our responsibility is to express opinions on these financial statements based on our audit. We
conducted our audit in accordance with auditing standards generally accepted in the United
States of America and the standards applicable to financial audits contained in Government
Auditing Standards, issued by the Comptroller General of the United States. Those standards
require that we plan and perform the audit to obtain reasonable assurance about whether the
financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and
disclosures in the financial statements. The procedures selected depend on the auditor’s
judgment, including the assessment of the risks of material misstatement of the financial
statements, whether due to fraud or error. In making those risk assessments, the auditor
considers internal control relevant to the entity’s preparation and fair presentation of the
financial statements in order to design audit procedures that are appropriate in the circumstances,
but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal
control. Accordingly, we express no such opinion. An audit also includes evaluating the
appropriateness of accounting policies used and the reasonableness of significant accounting
estimates made by management, as well as evaluating the overall presentation of the financial
statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a
basis for our audit opinions.
Opinions
In our opinion, the financial statements referred to above present fairly, in all material respects,
the respective financial position of the governmental activities, the business-type activities, each
major fund, and the aggregate remaining fund information of the City of Oak Park Heights,
Minnesota, as of December 31, 2015, and the respective changes in financial position, and,
where applicable, cash flows thereof for the year then ended in accordance with accounting
principles generally accepted in the United States of America.
Emphasis of Matter
As described in Note 7 to the financial statements, City of Oak Park Heights, Minnesota adopted
new accounting guidance, GASB Statement No. 68, Accounting and Financial Reporting for
Pensions – an Amendment of GASB Statement No. 27 for the year ended December 31, 2015. Our
opinion is not modified with respect to this matter.
Report on Summarized Comparative Information
We have previously audited the City of Oak Park Heights, Minnesota’s 2014 financial
statements, and we expressed an unmodified audit opinion on the respective financial statements
of the governmental activities, the business-type activities, each major fund and the aggregate
remaining fund information in our report dated April 13, 2015. In our opinion, the summarized
comparative information presented herein as of and for the year ended December 31, 2014 is
consistent, in all material respects, with the audited financial statements from which it has been
derived.
Other Matters
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the
management’s discussion and analysis, the budgetary comparison information, the schedules of
pension contributions and the schedules of proportionate share of pension liability, as listed in
the table of contents, be presented to supplement the basic financial statements. Such
information, although not a part of the basic financial statements, is required by the
Governmental Accounting Standards Board, who considers it to be an essential part of financial
reporting for placing the basic financial statements in an appropriate operational, economic, or
historical context. We have applied certain limited procedures to the required supplementary
information in accordance with auditing standards generally accepted in the United States of
America, which consisted of inquiries of management about the methods of preparing the
information and comparing the information for consistency with management’s responses to our
inquiries, the basic financial statements, and other knowledge we obtained during our audit of
the basic financial statements. We do not express an opinion or provide any assurance on the
information because the limited procedures do not provide us with sufficient evidence to express
an opinion or provide any assurance.
Other Information
Our audit was conducted for the purpose of forming opinions on the financial statements that
collectively comprise the City of Oak Park Heights, Minnesota’s basic financial statements. The
introductory section, combining and individual nonmajor fund financial statements, and
statistical section, are presented for purposes of additional analysis and are not a required part of
the basic financial statements.
The combining and individual nonmajor fund financial statements are the responsibility of
management and were derived from and relate directly to the underlying accounting and other
records used to prepare the basic financial statements. Such information has been subjected to
the auditing procedures applied in the audit of the basic financial statements and certain
additional procedures, including comparing and reconciling such information directly to the
underlying accounting and other records used to prepare the basic financial statements or to the
basic financial statements themselves, and other additional procedures in accordance with
auditing standards generally accepted in the United States of America. In our opinion, the
combining and individual nonmajor fund financial statements are fairly stated in all material
respects in relation to the basic financial statements as a whole.
The introductory and statistical sections have not been subjected to the auditing procedures
applied in the audit of the basic financial statements and, accordingly, we do not express an
opinion or provide any assurance on them.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated April
19, 2016, on our consideration of the City of Oak Park Heights, Minnesota’s internal control
over financial reporting and on our tests of its compliance with certain provisions of laws,
regulations, contracts, and grant agreements and other matters. The purpose of that report is to
describe the scope of our testing of internal control over financial reporting and compliance and
the results of that testing, and not to provide an opinion on internal control over financial
reporting or on compliance. That report is an integral part of an audit performed in accordance
withGovernment Auditing Standards in considering the City of Oak Park Heights, Minnesota’s
internal control over financial reporting and compliance.
REDPATH AND COMPANY, LTD.
St. Paul, Minnesota
April 19, 2016
MANAGEMENT’S DISCUSSION AND ANALYSIS
As management of the City of Oak Park Heights, Minnesota (the City) we offer readers of
the City’s financial statements this narrative overview and analysis of the financial activities
of the City for the fiscal year ended December 31, 2015.
Financial Highlights
The assets of the City exceeded its liabilities at the close of the most recent fiscal year by
$40,377,712 (net position). Of this amount, $15,814,180 (unrestricted net position) may be
used to meet the government’s ongoing obligations to citizens and creditors in accordance
with the City's fund designations and fiscal policies.
Net position of the government-wide financial statements was negatively impacted in the current
year by $1,617,927 due to the required implementation of a new accounting standard. This is
more fully described on page 15.
The City’s total net position increased by $3,074,634.
As of the close of the current fiscal year, the City’s governmental funds reported combined
ending fund balances of $22,119,895, a decrease of $1,112,446. The decrease is due tofunds
utilized for the 2014/2015 Street Reconstruction Capital Project. Approximately 18% or
$3,949,700 is available for spending according to the City’s policies and constraints.
At the end of the current fiscal year the General Fund balance was $4,632,533, of which
$57,602 is nonspendable, $54,188 is restricted, $165,000 is assigned, and $4,355,743 is
unassigned. The unassigned fund balance is 94% of the total subsequent year General Fund
budgeted expenditures.
The General Fund balance increased by $729,726.This increase is a result of favorable
budget variances for revenue and expenditures.
The City’s budgeted transfers were $479,275 from the General Fund to the Budgeted Projects
Fund for capital improvements for streets, parks, public safety, public works, and general
government; $353,600 from the General Fund to the Street Reconstruction Fund; $84,000
from the General Fund to the Storm Sewer Renewal Replacement Fund, and $608,000 from
the General Fund to the G.O. Capital Improvement Bond Funds of 2008, 2009, and 2014.
Overview of the Financial Statements
This discussion and analysis is intended to serve as an introduction to the City’s basic
financial statements. The City’s basic financial statements comprise three components: 1)
government-wide financial statements, 2) fund financial statements, and 3) notes to the
Management’s Discussion and Analysis
financial statements. This report also contains other supplementary information in addition
to the basic financial statements themselves.
Government-wide financial statements. The government-wide financial statements are
designed to provide readers with a broad overview of the City’s finances, in a manner similar
to a private-sector business.
Thestatement of net position presents information on all of the City’s assets and liabilities,
with the difference between the two reported as net position. Over time, increases or
decreases in net position may serve as a useful indicator of whether the financial position of
the City is improving or deteriorating.
Thestatement of activities presents information showing how the City’s net position changed
during the most recent fiscal year. All changes in net position are reported as soon as the
underlying event giving rise to the change occurs, regardless of the timing of related cash
flows. Thus, revenues and expenses are reported in this statement for some items that will
only result in cash flows in future fiscal periods (e.g. uncollected taxes and earned but unused
vacation leave).
Both of the government-wide financial statements distinguish functions of the City that are
principally supported by taxes and intergovernmental revenues (governmental activities)
from other functions that are intended to recover all or a significant portion of their costs
through user fees and charges (business-type activities). The governmental activities of the
City include general government, public safety, public works and parks and recreation. The
business-type activities of the City include water, sanitary sewer and storm sewer.
The government-wide financial statements are statements 1 and 2 of this report.
Fund Financial statements. A fund is a grouping of related accounts that is used to
maintain control over resources that have been segregated for specific activities or objectives.
The City, like other state and local governments, uses fund accounting to ensure and
demonstrate compliance with finance-related legal requirements. All of the funds of the City
can be divided into two categories: governmental funds and proprietary funds.
Governmental funds. Governmental funds are used to account for essentially the same
functions reported as governmental activities in the government-wide financial statements.
However, unlike the government-wide financial statements, governmental fund financial
statements focus on near-term inflows and outflows of spendable resource, as well as on
balances of spendable resources available at the end of the fiscal year. Such information may
be useful in evaluating a government’s near-term financial requirements.
Because the focus of governmental funds is narrower than that of the government-wide
financial statements, it is useful to compare the information presented for governmental
funds with similar information presented for governmental activities in the government-wide
financial statements. By doing so, readers may better understand the long-term impact of the
Management’s Discussion and Analysis
City's near term financial decisions. Both the governmental fund balance sheet and
governmental fund statement of revenues, expenditures and change in fund balance provide a
reconciliation to facilitate this comparison between governmental funds and governmental
activities.
The City maintains seven individual major governmental funds. Information is presented
separately in the governmental fund balance sheet and in the governmental fund statement of
revenues, expenditures and changes in fund balance for the following major funds:
General Fund
TIF District #2 – Special Revenue Fund
G.O. CIP Refunding Bonds of 2012A – Debt Service Fund
G.O. Capital Improvement Bonds of 2014A – Debt Service Fund
Capital Revolving Fund – Capital Project Fund
Street Reconstruction Fund – Capital Project Fund
Renewal and Replacement Fund – Capital Project Fund
Data from the other governmental funds are combined into a single, aggregated presentation.
Individual fund data for each of these nonmajor governmental funds is provided in the form
of subcombining statements elsewhere in this report.
The City adopts an annual appropriated budget for its General Fund. A budgetary
comparison schedule has been provided for this fund to demonstrate compliance with this
budget – see Statement 10.
The basic governmental fund financial statements are statements 3 through 5 of this report.
Proprietary funds. The City maintains three enterprise funds as a part of its proprietary
fund type. Enterprise funds are used to report the same functions presented as business-type
activities in the government-wide financial statements. The City uses enterprise funds to
account for its water, sanitary sewer and storm sewer operations.
Proprietary funds provide the same type of information as the government-wide financial
statements, only in more detail. The proprietary fund financial statements provide separate
information for the following funds:
Enterprise funds:
Water
Sanitary Sewer
Storm Sewer
Internal service funds are used to report activities that provide services for the City’s other
department, such as pension benefits. The internal service fund is reported with governmental
activities in the government-wide financial statements.
Management’s Discussion and Analysis
The basic proprietary fund financial statements are statements 6 through 8 of this report.
Fiduciary Funds. Fiduciary funds are used to account for resources held for the benefit of
parties outside the City. Fiduciary funds are not reflected by the government-wide financial
statements because the resources of those funds are not available to support the City’s own
programs.
The basic fiduciary fund statements are Statements 9, 23 and 24.
Notes to the financial statements. The notes provide additional information that is essential
to a full understanding of the data provided in the government–wide and fund financial
statements. The notes to the financial statements can be found following Statement 9.
Other information. The combining statements referred to earlier in connection with non-
major governmental funds are presented immediately following the required supplementary
information on budgetary comparisons. Combining and individual fund statements and
schedules are presented as Statements 15 through 22.
Government-Wide Financial Analysis
As noted earlier, net position may serve over time as a useful indicator of a government's
financial position. In the case of the City, assets exceeded liabilities by $40,377,712 at the
close of the most recent fiscal year.
The largest portion of the City’s net position ($22,099,164 or 55%) reflects its investment in
capital assets (e.g. land, improvements, buildings and structures, machinery and equipment,
and furniture and fixtures) less any related debt used to acquire those assets that is still
outstanding. The City uses these capital assets to provide services to citizens; consequently,
these assets are not available for future spending. Although the City’s investment in its
capital assets is reported net of related debt, it should be noted that the resources needed to
repay this debt must be provided from other sources, since the capital assets themselves
cannot be used to liquidate these liabilities.
Management’s Discussion and Analysis
City of Oak Park Heights’ Net Position
Governmental ActivitiesBusiness-Type ActivitiesTotals
201520142015201420152014
Assets:
Current and other assets$23,916,601$24,779,047$2,039,086$1,815,260$25,955,687$26,594,307
Capital assets23,371,54121,607,5168,069,0446,774,33031,440,58528,381,846
Total assets$47,288,142$46,386,563$10,108,130$8,589,590$57,396,272$54,976,153
Total deferred outflows of resources$344,091$0$0$0$344,091$0
Liabilities:
Long-term liabilities outstanding$10,840,865$14,796,002$35,491$29,894$10,876,356$14,825,896
Other liabilities6,116,3791,220,12980,31839,3506,196,6971,259,479
Total liabilities$16,957,244$16,016,131$115,809$69,244$17,073,053$16,085,375
Total deferred inflows of resources$289,598$0$0$0$289,598$0
Net position:
Net investment in capital assets$14,030,120$11,756,453$8,069,044$6,774,330$22,099,164$18,530,783
Restricted2,464,3681,355,960 - - 2,464,3681,355,960
Unrestricted13,890,90317,258,0191,923,2771,746,01615,814,18019,004,035
Total net position$30,385,391$30,370,432$9,992,321$8,520,346$40,377,712$38,890,778
The City adopted new accounting guidance, GASB Statement No. 68, Accounting and
Financial Reporting for Pensions – an Amendment of GASB Statement No. 27 for the year
ended December 31, 2015. Essentially, the standard required the unfunded portion of defined
benefit pension plans to be reported by all participating employers. Recording the net pension
liability and the pension related deferred outflows and inflows of resources do not change the
City’s future funding requirements or obligations under the plans, which are determined by
Minnesota statutes.
Net position was negatively impacted by $1,617,927 at December 31, 2015 due to the
implementation of this standard. Pension-related amounts included in the above schedule
related to the standard are as follows:
Deferred outflows of resources$344,091
Deferred inflows of resources(289,598)
Noncurrent liabilities(1,672,420)
Total($1,617,927)
A portion of the City’s net position ($15,814,180) is its unrestricted net position which may
be used to meet the City’s ongoing obligations to citizens and creditors. The remaining
balance of $2,464,368 represents resources that are subject to external restrictions on how
they may be used.
At the end of the current fiscal year, the City is able to report positive balances in all three
categories of net position, both for the government as a whole, as well as for its separate
governmental and business-type activities.
Management’s Discussion and Analysis
Governmental Activities
Governmental activities increased the City’s net position by $1,602,659 during 2015. Key
elements of this increase are as follows:
Charges for services increased $289,040 largely due to collection of area charges
from development.
Investment income decreased by $267,289 due to the realized and unrealized losses in
the value of investments which are annually adjusted in accordance with accounting
standards.
Property taxes increased $582,056 due to an increase in taxes levied and a reduction
in tax abatements.
Capital grants and contributions increased $88,258 due to a small cities grant that the
City received of $54,188 and an increase in police aid.
Public works expenses decreased $117,112 due to savings in snowplowing
expenditures.
City of Oak Park Heights’ Changes in Net Position
Governmental ActivitiesBusiness-Type ActivitiesTotals
201520142015201420152014
Revenues:
Program revenues:
Charges for services$699,627$410,587$1,745,846$1,666,867$2,445,473$2,077,454
Operating grants and contributions105,231101,4437,930 - 113,161101,443
Capital grants and contributions1,209,4321,121,1745161,2481,209,9481,122,422
General revenues:
General property taxes5,104,7794,581,854 - - 5,104,7794,581,854
Tax increment184,251125,120 - - 184,251125,120
Grants and contributions not
restricted to specific programs10,3202,040 - - 10,3202,040
Gain (loss) on sale of capital assets - 44,198 - - - 44,198
Other revenue22,65531,644 - - 22,65531,644
Unrestricted investment earnings154,098421,38711,54729,669165,645451,056
Total revenues7,490,3936,839,4471,765,8391,697,7849,256,2328,537,231
Expenses:
General government1,685,4521,663,866 - - 1,685,4521,663,866
Public safety1,564,0581,565,544 - - 1,564,0581,565,544
Public works903,8581,020,664 - - 903,8581,020,664
Parks and recreation315,390285,877 - - 315,390285,877
Interest on long-term debt406,215463,217 - - 406,215463,217
Water - - 496,607477,771496,607477,771
Sanitary sewer - - 749,937694,406749,937694,406
Storm sewer - - 60,08146,39360,08146,393
Total expenses 4,874,9734,999,1681,306,6251,218,5706,181,5986,217,738
Increase in net position before transfers2,615,4201,840,279459,214479,2143,074,6342,319,493
Transfers(1,012,761)12,1701,012,761(12,170) - -
Change in net position1,602,6591,852,4491,471,975467,0443,074,6342,319,493
Net position - January 1, as previously reported30,370,43228,517,9838,520,3468,053,30238,890,77836,571,285
Prior period adjustment(1,587,700) - - - (1,587,700) -
Net position - January 1, as restated28,782,73228,517,9838,520,3468,053,30237,303,07836,571,285
Net position - December 31$30,385,391$30,370,432$9,992,321$8,520,346$40,377,712$38,890,778
Management’s Discussion and Analysis
Below are specific graphs which provide comparisons of the governmental activities
revenues and expenditures:
Management’s Discussion and Analysis
Business-Type Activities
Business-type activities increased net position by $1,471,975 during 2015. Below are graphs
showing the business-type activities revenue and expense comparisons:
Management’s Discussion and Analysis
Financial Analysis of the Government's Funds
Governmental Funds. The focus of the City’s governmental funds is to provide information
on near-term inflows, outflows, and balances of spendable resources. Such information is
useful in assessing the City’s financing requirements. In particular, unreserved fund balance
may serve as a useful measure of a government’s net resources available for spending at the
end of the fiscal year.
At the end of the current fiscal year, the City’s governmental funds reported combined
ending fund balances of $22,119,895.
The General Fund increased by $729,726 in 2015. This is from revenues being over budget
by $330,282 due to an increase in collection of Intergovernmental Revenue which includes
the Small Cities Grant of $54,188 and Development Charges received from the developer
issued Housing Revenue Notes. Expenditures were under budget by $402,444. Major
savings were experienced in snow removal and reduction in personnel costs.
The TIF District # 2 decreased by $28,777. This fund was established for possible
development within the city which would require expenditures for street and utility
infrastructure. Preliminary expenses of $406,067 including the purchase of property have
been incurred during 2013-2015. The General Fund provided a $410,000 advance to fund
the expenditures.
The G.O. CIP Refunding Bonds of 2012A decreased by $74,959 due to scheduled debt
payments made with escrowed funds.
The G.O. Capital Improvement Bonds of 2014 increased by $903,462. The bonds were
issued for partial financing of the 2014-2015 Street and Utility Reconstruction Project.
$396,848 of the increase in the fund is due to the prepayment of assessments levied for the
repayment of the bond, and $273,314 is a return of proceeds due to the reduction of a portion
of the related street project.
The Capital Revolving Fund decreased by $69,551 a net result of the expenditures incurred
relating to the Highway 36 Bridge Project reduced by a partial reimbursement received from
the Minnesota Department of Transportation. The bridge is being constructed by the State of
Minnesota and the Minnesota Department of Transportation. The costs incurred are a result
of negotiating funding and costs of the infrastructure that the City is obligated to relocate for
the project.
The Street Reconstruction Capital Project Fund decreased by $3,708,399 during 2015 . This
decrease is due to the capital expenditures of $3,945,645 for the street reconstruction project.
The Renewal and Replacement Capital Project Fund increased by $176,085 during 2015.
This fund receives an annual transfer from the proprietary funds in an amount equal to
depreciation expense on capital assets. The increase is the net of the annual transfers reduced
by the amount transferred to fund the capital project for street reconstruction.
Management’s Discussion and Analysis
The nonmajor special revenue funds increased by $33,509 during 2015.
The nonmajor debt service funds decreased by $27 during 2015.
The nonmajor capital project funds increased by $926,488 during 2015 due to transfers in
from other funds for the accumulation of resources for future capital improvement
expenditures and the collection of $215,962 of area charges-connection fees from
development. The charges are collected for use on future infrastructure improvement.
Proprietary funds. The City’s proprietary funds provide the same type of information
found in the government-wide financial statements, but in more detail.
Budgetary Highlights
General Fund
The General Fund budget was not amended during 2015. Actual results as compared to
budgeted were significantly different because of the following:
Intergovernmental revenue includes an unexpected Small Cities Grant of $54,188
from the state.
Licenses and permits and Charges for services had increases over anticipated amounts
due to development in the City.
Investment income was over $18,621 as well as Refunds and Reimbursement was
over $33,385. Investment income is not a budgeted revenue due to the fluctuations of
rates and market values and is not measurable. Included in Refunds and
reimbursements is insurance dividends which are not a guaranteed income and are not
budgeted for.
Total general government expenditures were $173,185 under budget because of
favorable budget variances, reduction in personnel and insurance costs.
Public safety expenditures were $54,517 under budget due to favorable budget
variances.
Public works expenditures were $157,918 under budget due to $139,082 of under
budget expenditures for snow and ice removal and overall favorable budget variances.
Parks and recreation expenditures were $16,824 under budget because of reduced
labor costs.
Capital Asset and Debt Administration
Capital assets. The City’s investment in capital assets for its governmental and business-
type activities as of December 31, 2015, amounts to $31,440,585 (net of accumulated
depreciation). This investment in capital assets includes land, construction in progress,
buildings and structures, other improvements, infrastructure, machinery and equipment and
furniture and fixtures.
Management’s Discussion and Analysis
City of Oak Park Heights’ Capital Assets
(Net of Depreciation)
BeginningEnding
BalanceIncreasesDecreasesBalance
Governmental activities:
Capital assets, not being depreciated:
Land$2,581,071$ - $ - $2,581,071
Construction in progress4,843,8284,038,228(3,901,798)4,980,258
Total capital assets, not being depreciated7,424,8994,038,228(3,901,798)7,561,329
Capital assets, being depreciated:
Buildings and structures7,600,119 - - 7,600,119
Other improvements1,505,928 - - 1,505,928
Machinery and equipment517,91427,684 - 545,598
Furniture and fixtures514,96119,469(17,695)516,735
Infrastructure12,939,2782,391,624(283,806)15,047,096
Total capital assets, being depreciated23,078,2002,438,777(301,501)25,215,476
Less accumulated depreciation for:
Buildings and structures821,881182,179 - 1,004,060
Other improvements350,61546,537 - 397,152
Machinery and equipment360,71738,355 - 399,072
Furniture and fixtures224,82142,741(13,555)254,007
Infrastructure7,137,549469,524(256,100)7,350,973
Total accumulated depreciation8,895,583779,336(269,655)9,405,264
Total capital assets being depreciated - net14,182,6171,659,441(31,846)15,810,212
Governmental activities capital assets - net$21,607,516$5,697,669($3,933,644)$23,371,541
BeginningEnding
BalanceIncreasesDecreasesBalance
Business-type activities:
Capital assets, not being depreciated:
Land$937,919$ - $ - $937,919
Construction in progress - - - -
Total capital assets, not being depreciated937,91900937,919
Capital assets, being depreciated:
Buildings and structures2,047,665 - - 2,047,665
Machinery and equipment495,42029,984(11,285)514,119
Infrastructure7,760,4341,552,937(45,963)9,267,408
Total capital assets, being depreciated10,303,5191,582,921(57,248)11,829,192
Less accumulated depreciation for:
Buildings and structures882,55872,542 - 955,100
Machinery and equipment240,62825,296(11,284)254,640
Infrastructure3,343,922180,482(36,077)3,488,327
Total accumulated depreciation4,467,108278,320(47,361)4,698,067
Total capital assets being depreciated - net5,836,4111,304,601(9,887)7,131,125
Business-type activities capital assets - net$6,774,330$1,304,601($9,887)$8,069,044
Additional information on the City’s capital assets can be found in Note 5.
Long-term debt. At the end of the current fiscal year, the City had total bonded debt
outstanding of $14,607,470, a decrease of $519,338 from 2014.
Management’s Discussion and Analysis
Additional long-term debt in the amount of $271,601 for compensated absences and
$1,672,420 for net pension liability was also outstanding at the end of 2015.
City of Oak Park Heights’ Outstanding Debt
General obligation bonds, compensated absences and unamortized bond premium:
Governmental ActivitiesBusiness-Type ActivitiesTotals
201520142015201420152014
General obligation bonds$14,385,000$14,885,000$ - $ - $14,385,000$14,885,000
Compensated absences223,044215,02948,55732,935271,601247,964
Net pension liability1,672,420 - - - 1,672,420 -
Bond premium222,470241,808 - - 222,470241,808
Total$16,502,934$15,341,837$48,557$32,935$16,551,491$15,374,772
State statutes limit the amount of general obligation debt a Minnesota city may issue to 3% of
total estimated market value. The current debt limitation for the City is $21,366,828. The
City’s 2008A and 2009A Capital Improvement Bonds and a portion of the 2014A General
Obligation Bonds for a total of $8,185,000 are counted within the statutory limitation.
Additional information on the City’s long-term debt can be found in Note 6.
Requests for information.This financial report is designed to provide a general overview
of the City’s finances for all those with an interest in the government’s finances. Questions
concerning any of the information provided in this report or requests for additional financial
information should be addressed to the Director of Finance, 14168 Oak Park Boulevard, Oak
Park Heights, Minnesota 55082-2007.
BASIC FINANCIAL STATEMENTS
CITY OF OAK PARK HEIGHTS, MINNESOTA
STATEMENT OF NET POSITIONStatement 1
December 31, 2015
Primary Government
GovernmentalBusiness-Type
Assets:ActivitiesActivitiesTotal
Cash and investments$17,447,802$1,551,434$18,999,236
Cash with escrow agent4,926,338 - 4,926,338
Accrued interest receivable33,5143,28736,801
Accounts receivable - net32,519423,619456,138
Internal balances2,026(2,026) -
Due from other governmental units487,6709,740497,410
Prepaid items57,60253,032110,634
Taxes receivable62,490 - 62,490
Special assessments receivable - net740,640 - 740,640
Land held for resale126,000 - 126,000
Capital assets (net of accumulated depreciation):
Land2,581,071937,9193,518,990
Building and structures6,596,0591,092,5657,688,624
Other improvements1,108,776 - 1,108,776
Machinery and equipment146,526259,480406,006
Furniture and fixtures262,728 - 262,728
Infrastructure7,696,1235,779,08013,475,203
Construction in progress4,980,258 - 4,980,258
Total assets47,288,14210,108,13057,396,272
Deferred outflows of resources:
Related to pensions344,091 - 344,091
Liabilities:220,18260,317280,499
Accounts payable2,3998733,272
Salaries payable192,866 - 192,866
Contacts payable4544,6805,134
Due to other governmental units - - -
Accrued interest payable17,176 - 17,176
Deposits payable18,000 - 18,000
Unearned revenue3,2331,3824,615
Compensated absences payable:
Due within one year47,06913,06660,135
Due in more than one year175,97535,491211,466
Other post employment benefits - - -
Bonds payable: - - -
Due within one year5,615,000 - 5,615,000
Due in more than one year8,992,470 - 8,992,470
Net pension liability:
Due in more than one year1,672,420 - 1,672,420
Total liabilities16,957,244115,80917,073,053
Deferred inflows of resources:289,598 - 289,598
Related to pensions
Net position:
Net investment in capital assets14,030,1208,069,04422,099,164
Restricted for:
Debt service1,770,237 - 1,770,237
Park improvements544,506 - 544,506
Other purposes149,625 - 149,625
Unrestricted13,890,9031,923,27715,814,180
Total net position$30,385,391$9,992,321$40,377,712
The accompanying notes are an integral part of these financial statements.
CITY OF OAK PARK HEIGHTS, MINNESOTA
STATEMENT OF ACTIVITIES
For The Year Ended December 31, 2015
Program Revenues
Charges For
Functions/ProgramsExpensesServices
Primary government:
Governmental activities:
General government$1,685,452$136,997
Public safety1,564,058292,249
Public works903,858270,381
Parks and recreation315,390 -
Interest and fees on long-term debt406,215 -
Total governmental activities4,874,973699,627
Business-type activities:
Water496,607781,537
Sanitary sewer749,937881,428
Storm sewer60,08182,881
Total business-type activities1,306,6251,745,846
Total primary government$6,181,598$2,445,473
The accompanying notes are an integral part of these financial statements.
Statement 2
Net (Expense) Revenue and
Program RevenuesChanges in Net Position
Primary Government
OperatingCapital
Grants andGrants andGovernmentalBusiness-Type
ContributionsContributionsActivitiesActivitiesTotal
$ - $ - ($1,548,455)$ - ($1,548,455)
90,991 - (1,180,818) - (1,180,818)
14,2401,209,432590,195 - 590,195
- - (315,390) - (315,390)
- - (406,215) - (406,215)
105,2311,209,432(2,860,683)0(2,860,683)
7,930 - - 292,860292,860
- - - 131,491131,491
- 516 - 23,31623,316
7,9305160447,667447,667
$113,161$1,209,948(2,860,683)447,667(2,413,016)
General revenues:
General property taxes5,104,779 - 5,104,779
Tax increment184,251 - 184,251
Grants and contributions not
restricted to specific programs10,320 - 10,320
Unrestricted investment earnings154,09811,547165,645
Gain (loss) on sale of capital assets - - -
Other revenue22,655 - 22,655
Transfers(1,012,761)1,012,761 -
Total general revenues
and transfers4,463,3421,024,3085,487,650
Change in net position1,602,6591,471,9753,074,634
Net position - January 1, as originally reported30,370,4328,520,34638,890,778
Prior period adjustment, See Note 18(1,587,700) - (1,587,700)
Net position - January 1, as restated28,782,7328,520,34637,303,078
Net position - December 31$30,385,391$9,992,321$40,377,712
The accompanying notes are an integral part of these financial statements.
CITY OF OAK PARK HEIGHTS, MINNESOTA
BALANCE SHEET
GOVERNMENTAL FUNDS
December 31, 2015
With Comparative Totals For December 31, 2014
528 G.O. CIP 529 G.O. Capital
206 TIF District Refunding Bonds Improvement
General Fund#2of 2012ABonds of 2014A
Assets
Cash and investments$4,194,065$17,353$15,357$1,162,981
Cash with escrow agent - - 4,926,338 -
Accrued interest receivable5,72813301,115
Accounts receivable - net30,519 - - -
Due from other governmental units57,106 - - -
Due from other funds410,000 - - -
Escrow deposit - - - -
Prepaid items57,602 - - -
Delinquent taxes receivable62,490 - - -
Special assessments receivable - - - 814,725
Land held for resale - - - -
Total assets$4,817,510$17,366$4,941,725$1,978,821
Liabilities, Deferred Inflows of Resources, and Fund Balances
Liabilities:
Accounts payable$101,634$13,409$ - $ -
Salaries payable2,399 - - -
Contracts payable - - - -
Due to other governmental units454 - - -
Due to other funds - 410,000 - -
Deposits payable18,000 - - -
Unearned revenue - - - -
Total liabilities122,487423,40900
Deferred inflows of resources:
Unavailable revenue62,490 - - 814,102
Fund balance:
Nonspendable57,602 - - -
Restricted54,188 - 4,941,7251,164,719
Assigned165,000 - - -
Unassigned4,355,743(406,043) - -
Total fund balance4,632,533(406,043)4,941,7251,164,719
Total liabilities, deferred inflows of resources, and fund balance$4,817,510$17,366$4,941,725$1,978,821
The accompanying notes are an integral part of these financial statements.
Statement 3
710 Renewal and
ReplacementOther
500 Capital 565 Street Capital Project GovernmentalIntra-Activity
Revolving FundReconstructionFundFundsEliminations
Total Governmental Funds
20152014
$32,965$1,873,428$3,199,234$6,952,419$ - $17,447,802$18,504,916
- - - - - 4,926,3385,001,408
1298,2856,02612,188 - 33,51435,025
- - - 2,000 - 32,51941,724
429,039 - - 1,525 - 487,670416,260
- - - - (410,000) - -
- - - - - - -
- - - - - 57,60280,806
- - - - - 62,49062,667
- - - - - 814,725510,041
- - - 126,000 - 126,000126,200
$462,133$1,881,713$3,205,260$7,094,132($410,000)$23,988,660$24,779,047
$6,905$6,806$1,037$90,391$ - $220,182$157,013
- - - - - 2,3996,551
- 192,866 - - - 192,866310,419
- - - - - 4541,460
- - - - (410,000) - -
- - - - - 18,0009,000
- - - 3,233 - 3,2333,079
6,905199,6721,03793,624(410,000)437,134487,522
429,039 - - 126,000 - 1,431,6311,059,184
- - - - - 57,60280,806
- - - 755,683 - 6,916,3157,240,143
26,1891,682,0413,204,2236,118,825 - 11,196,27812,625,657
- - - - - 3,949,7003,285,735
26,1891,682,0413,204,2236,874,508022,119,89523,232,341
$462,133$1,881,713$3,205,260$7,094,132($410,000)$23,988,660$24,779,047
Fund balance reported above$22,119,895
Amounts reported for governmental activities in the statement of net position are different because:
Capital assets used in governmental activities are not financial resources and, therefore, are not reported
in the funds.23,371,541
Other long-term assets are not available to pay for current-period expenditures and, therefore, are
reported as unavailable revenues in the funds.1,357,546
Long-term liabilities, are not due and payable in the current period and, therefore, are not reported in the funds:
Bonds payable(14,607,470)
Compensated absences payable(223,044)
Other post employment benefits -
Accrued interest payable(17,176)
An internal service fund is used by management to change the costs of pension benefits to individual funds.
The assets and liabilities are included in the governmental activities on the Statement of Net Position.(1,615,901)
Net position of governmental activities$30,385,391
The accompanying notes are an integral part of these financial statements.
CITY OF OAK PARK HEIGHTS, MINNESOTA
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE
GOVERNMENTAL FUNDS
For The Year Ended December 31, 2015
With Comparative Totals For December 31, 2014
529 G.O.
528 G.O. CIP Capital
RefundingImprovement
206 TIF District Bonds of Bonds of
General Fund#22012A2014A
Revenues:
General property taxes$5,104,956$ - $ - $ -
Tax increment - - - -
Special assessments - - - 381,071
Licenses and permits125,704 - - -
Intergovernmental156,909 - - -
Charges for services148,641 - - -
Fines and forfeits64,515 - - -
Investment income18,6211329,7992,165
Refunds and reimbursements108,3851,000 - 359,012
Donations and contributions4,550 - - -
Total revenues5,732,281 1,013 29,799 742,248
Expenditures:
Current:
General government1,250,49829,790 - -
Public safety1,610,831 - - -
Public works459,007 - - -
Parks and recreation154,344 - - -
Capital outlay - - - -
Debt service:
Principal - - - 165,000
Interest - - 104,75885,100
Bond issuance costs - - - -
Total expenditures3,474,680 29,790 104,758 250,100
Revenues over (under) expenditures2,257,601 (28,777)(74,959)492,148
Other financing sources (uses):
Sale of capital assets - - - -
Issuance of bonds - - - -
Bond premium - - - -
Transfers in - - - 411,314
Transfers out(1,527,875) - - -
Total other financing sources (uses)(1,527,875)0 0 411,314
Net change in fund balance729,726 (28,777)(74,959)903,462
Fund balance - January 13,902,807(377,266)5,016,684261,257
Fund balance - December 31$4,632,533($406,043)$4,941,725$1,164,719
The accompanying notes are an integral part of these financial statements.
Statement 4
710 Renewal
and
ReplacementOther
500 Capital 565 Street Capital Project GovernmentalIntra-Activity
Revolving FundReconstructionFundFundsEliminationsTotal Governmental Funds
20152014
$ - $ - $ - $ - $ - $5,104,956$4,620,521
- - - 184,251 - 184,251125,120
- - - - - 381,071237,636
- - - - - 125,704137,543
9,041 - - - - 165,950453,283
- - - 252,906 - 401,547120,050
- - - 2,655 - 67,17062,885
60738,24522,21442,434 - 154,098421,387
- 107,381 - 18,476 - 594,254106,553
- - - - - 4,550200
9,648 145,626 22,214 500,722 0 7,183,551 6,285,178
- - - 239,495 - 1,519,7831,445,480
- - - 9,962 - 1,620,7931,535,387
2,4661,766 - 19,913 - 483,152601,870
- - - 22,072 - 176,416162,892
76,7333,945,64526,05863,003 - 4,111,4394,540,043
- - - 335,000 - 500,000315,000
- - - 236,275 - 426,133396,195
- - - - - - 80,533
79,199 3,947,411 26,058 925,720 0 8,837,716 9,077,400
(69,551)(3,801,785)(3,844)(424,998)0 (1,654,165)(2,792,222)
- - - - - - 44,400
- - - - - - 3,775,000
- - - - - - 111,689
- 684,800414,0291,482,065(2,450,489)541,719412,772
- (591,414)(234,100)(97,100)2,450,489 - -
0 93,386 179,929 1,384,965 0 541,719 4,343,861
(69,551)(3,708,399)176,085 959,967 0 (1,112,446)1,551,639
95,7405,390,4403,028,1385,914,541 - 23,232,34121,680,702
$26,189$1,682,041$3,204,223$6,874,508$0$22,119,895$23,232,341
The accompanying notes are an integral part of these financial statements.
CITY OF OAK PARK HEIGHTS, MINNESOTA
RECONCILIATION OF THE STATEMENT OF REVENUES,Statement 5
EXPENDITURES AND CHANGES IN FUND BALANCES OF
GOVERNMENTAL FUNDS
For The Year Ended December 31, 2015
2015
Amounts reported for governmental activities in the
statement of activities are different because:
Net changes in fund balances - total governmental funds (Statement 4)($1,112,446)
Governmental funds report capital outlays as expenditures. However, in the
statement of activities the cost of those assets is allocated over their
estimated useful lives and reported as depreciation expense:
Depreciation(779,336)
Capital outlay4,111,439
Capitalized interest18,248
Other various transactions relating to capital assets:
Transfer of capital assets to business-type activities(1,554,480)
Disposal of assets(31,846)
Revenues in the statement of activities that do not provide current financial
resources are not reported as revenues in the funds:
Change in delinquent taxes receivable(177)
Change in deferred special assessments receivable229,976
Change in value of land held for resale(200)
Change in unavailable grant receivable68,763
The issuance of long-term debt (e.g., bonds, leases) provides current
financial resources to governmental funds, while the repayment of the
principal of long-term debt consumes the current financial resources of
governmental funds. Neither transaction, however, has any effect on net
position. The amount of this difference is:
Principal payments on bonds payable500,000
Bond premium19,338
Some expenses reported in the statement of activities do not require the use
of current financial resources and, therefore, are not reported as expenditures
in governmental funds. Expenses reported in the statement of activities
include the effects of the changes in these expense accruals as follows:
Change in compensated absences payable(8,015)
Change in other post employment benefits169,016
Change in accrued interest payable580
An internal service fund is used by management to charge pension costs to individual
funds. This amount is the portion of net revenue attributable to governmental activities.(28,201)
Change in net position of governmental activities (Statement 2)$1,602,659
The accompanying notes are an integral part of these financial statements.
CITY OF OAK PARK HEIGHTS, MINNESOTA
STATEMENT OF NET POSITIONStatement 6
PROPRIETARY FUNDS
December 31, 2015
With Comparative Totals For Enterprise Funds For December 31, 2014
Governmental
Business-Type Activities Enterprise FundsActivities
707 Storm
705 Water 706 Sewer Sewer Utility Internal Service
Utility FundUtility FundFundTotalsFund
201520142015
Assets:
Current assets:
Cash and cash equivalents$772,141$622,543$156,750$1,551,434$1,354,685$ -
Accrued interest receivable1,6771,3172933,2872,737 -
Accounts receivable:
Customers161,180196,99120,760378,931355,860 -
Certified to County16,56720,2037,91844,68849,017 -
Due from other governmental units9,740 - - 9,740719 -
Prepaid items7,58745,4341153,03252,242 -
Total current assets968,892 886,488 185,732 2,041,112 1,815,260 0
Noncurrent assets:
Capital assets:
Land937,919 - - 937,919937,919 -
Buildings and structures2,003,68243,983 - 2,047,6652,047,665 -
Machinery and equipment498,77715,342 - 514,119495,420 -
Distribution and collection system4,903,4294,363,979 - 9,267,4087,760,434 -
Construction in progress - - - - - -
Total capital assets8,343,807 4,423,304 0 12,767,111 11,241,438 0
Less: Allowance for depreciation(2,742,390)(1,955,677) - (4,698,067)(4,467,108) -
Net capital assets5,601,4172,467,62708,069,0446,774,3300
Total noncurrent assets5,601,4172,467,62708,069,0446,774,3300
Total assets6,570,3093,354,115185,73210,110,1568,589,5900
Deferred outflows of resources:
Related to pensions - - - - - 344,091
Liabilities:
Current liabilities:
Accounts payable12,67141,8405,80660,31713,401 -
Deposits payable - - - - - -
Salaries payable393480 - 8731,515 -
Due to other governmental units4,680 - - 4,6804,164 -
Unearned revenue1,382 - - 1,382 - -
Compensated absences payable - current portion7,6774,61577413,0663,041 -
Total current liabilities26,803 46,935 6,580 80,318 22,121 0
Noncurrent liabilities:
Compensated absences payable - noncurrent portion20,77712,5662,14835,49129,894 -
Other post employment benefits - - - - 17,229 -
Net pension liability - - - - - 1,672,420
Noncurrent liabilities20,77712,5662,14835,49147,1231,672,420
Total liabilities47,58059,5018,728115,80969,2441,672,420
Deferred inflows of resources:
Related to pensions - - - - - 289,598
Net position:
Net investment in capital assets5,601,4172,467,627 - 8,069,0446,774,330 -
Unrestricted921,312826,987177,0041,925,3031,746,016(1,617,927)
Total net position$6,522,729$3,294,614$177,004$9,994,347$8,520,346($1,617,927)
Net position reported above$9,994,347
Adjustment to report the cumulative internal balance for the net effect of
activity between the internal service fund and the enterprise funds over time.(2,026)
Net position of business-type activities$9,992,321
The accompanying notes are an integral part of these financial statements.
CITY OF OAK PARK HEIGHTS, MINNESOTA
STATEMENT OF REVENUES, EXPENSES AND Statement 7
CHANGES IN FUND NET POSITION
PROPRIETARY FUNDS
For The Year Ended December 31, 2015
With Comparative Totals For Enterprise Funds For December 31, 2014
Governmental
Business-Type Activities Enterprise FundsActivities
707 Storm
705 Water 706 Sewer Sewer Utility Internal Service
Utility FundUtility FundFundTotalsFund
201520142015
Operating revenues:
Customer billings$766,661$855,152$82,174$1,703,987$1,556,493$ -
Penalties8,90110,22967219,80216,037 -
Meter charges5,288 - - 5,2882,553 -
Charges for services6792,372353,0861,621197,636
Grants and contributions7,930 - - 7,930 - 8,280
Refunds and reimbursements813,675 - 13,68390,163 -
Total operating revenues789,467 881,428 82,881 1,753,776 1,666,867 205,916
Operating expenses:
Personal services208,871133,33322,401364,605353,943236,143
Contractual services73,404100,08532,302205,791163,098 -
MCES charges - 414,812 - 414,812408,307 -
Materials and supplies20,9305,92099427,84435,555 -
Administrative and personnel charges - - 4,2424,2424,248 -
Repairs and maintenance - - 1212 - -
Depreciation188,52589,795 - 278,320253,419 -
Total operating expenses491,730 743,945 59,951 1,295,626 1,218,570 236,143
Operating income (loss)297,737 137,483 22,930 458,150 448,297 (30,227)
Nonoperating revenues (expenses):
Earnings on investments5,8904,6411,01611,54729,669 -
Other - - 5165161,248 -
(Loss) on disposal of capital assets(3,723)(5,250) - (8,973) - -
Total nonoperating revenues (expenses)2,167(609)1,5323,09030,917 -
Income (loss) before contributions and transfers299,904136,87424,462461,240479,214(30,227)
Capital contributions1,185,349369,131 - 1,554,480400,602 -
Transfers:
Transfers to other funds(363,544)(174,442)(3,733)(541,719)(412,772) -
Total transfers and contributions821,805194,689(3,733)1,012,761(12,170)0
Change in net position1,121,709331,56320,7291,474,001467,044(30,227)
Net position - January 1, as previously reported5,401,0202,963,051156,2758,520,3468,053,302 -
Prior period adjustment - - - - - (1,587,700)
Net position - January 1, as restated5,401,0202,963,051156,2758,520,3468,053,302(1,587,700)
Net position - December 31$6,522,729$3,294,614$177,004$9,994,347$8,520,346($1,617,927)
NetCapital
PositionContributionsTransfers
Reconciliation to Statement of Activities:
Amounts reported above$9,994,347$1,554,480($541,719)
Amounts reported for business-type activities in the Statement of Activities are different because:
Transfer in of capital assets from governmental activities - (1,554,480)1,554,480
Adjustment to reflect the consolidation of Internal Service Fund activities(2,026) - -
Amounts reported on the Statement of Activities$9,992,321$ - $1,012,761
The accompanying notes are an integral part of these financial statements.
CITY OF OAK PARK HEIGHTS, MINNESOTA
STATEMENT OF CASH FLOWSStatement 8
PROPRIETARY FUNDS
For The Year Ended December 31, 2015
4
With Comparative Totals For Enterprise Funds For December 31, 201
Governmental
Business-Type Activities Enterprise FundsActivities
707 Storm
705 Water 706 Sewer Sewer Utility Internal Service
Utility FundUtility FundFundFund
Totals
201520142015
Cash flows from operating activities:
Receipts from customers and users$749,406$880,789$89,270$1,719,465$1,684,940$ -
Receipts from interfund charges for pension benefits - - - - - 197,636
Grants and contributions7,930 - - 7,930 - 8,280
Payment to suppliers(92,208)(482,207)(31,644)(606,059)(708,360) -
Payments to other funds for services provided - - - - - (205,916)
Payment to employees(209,590)(134,443)(22,821)(366,854)(344,465) -
Miscellaneous revenue - - 5165161,248 -
Net cash flows provided by (used in) operating activities455,538264,13935,321754,998633,3630
Cash flows from noncapital financing activities:
Transfer to other funds(363,544)(174,442)(3,733)(541,719)(412,772) -
Cash flows from capital and related
financing activities:
Acquisition of capital assets(22,561)(5,880) - (28,441)(423,234) -
Proceeds from sale of capital assets914 - - 914400,602 -
(21,647)(5,880) - (27,527)(22,632) -
Cash flows from investing activities:
Investment income5,6914,35994710,99734,416 -
Net increase (decrease) in cash and cash equivalents76,03888,17632,535196,749232,3750
Cash and cash equivalents - January 1696,103534,367124,2151,354,6851,122,310 -
Cash and cash equivalents - December 31$772,141 $622,543 $156,750 $1,551,434 $1,354,685 $0
Reconciliation of operating income to net
cash provided by operating activities:
Operating income (loss)$297,737$137,483$22,930$458,150$448,297($30,227)
Adjustments to reconcile operating income
(loss) to net cash flows from operating activities:
Depreciation188,52589,795 - 278,320253,419 -
Miscellaneous revenue - - 5165161,2488,280
Changes in assets and liabilities:
Decrease (increase) in receivables(33,513)(639)6,389(27,763)18,073 -
Decrease (increase) in prepaid expenses1,324(2,235)121(790)(18,216) -
Decrease (increase) in deferred outflows of resources - - - - - (262,483)
Increase (decrease) in payables1,46539,7355,36546,565(69,458)(5,168)
Increase (decrease) in deferred inflows of resources - - - - - 289,598
Total adjustments157,801 126,656 12,391 296,848 185,066 30,227
Net cash provided by (used in) operating activities$455,538$264,139$35,321$754,998$633,363$0
Noncash investing, capital and financing activities:
Water utility assets in the amount of $1,185,349 were contributed to the Water Utility Fund in 2015.
Sewer utility assets in the amount of $369,131 were contributed to the Sewer Utility Fund in 2015.
The accompanying notes are an integral part of these financial statements.
CITY OF OAK PARK HEIGHTS, MINNESOTA
STATEMENT OF FIDUCIARY NET POSITIONStatement 9
AGENCY FUNDS
December 31, 2015
With Comparative Totals For December 31, 2014
20152014
Assets:
Cash and investments$274,893$247,944
Due from developers15,89110,210
Total assets290,784258,154
Liabilities:
Escrow deposits payable146,000146,000
Accounts payable18,4469,422
Due to developers126,338102,732
Total liabilities290,784258,154
Net position:
Unrestricted$0$0
The accompanying notes are an integral part of these financial statements.
CITY OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2015
Note 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The City of Oak Park Heights, Minnesota operates under the State of Minnesota Statutory Plan A form of
government. The governing body consists of a five member City council elected by voters of the City.
The financial statements of the City of Oak Park Heights, Minnesota have been prepared in conformity with
generally accepted accounting principles as applied to governmental units by the Governmental Accounting
Standards Board (GASB). The following is a summary of the significant accounting policies.
A.FINANCIAL REPORTING ENTITY
As required by generally accepted accounting principles, the financial statements of the reporting entity
include those of the City (the primary government) and its component units, entities for which the City
is considered to be financially accountable. Blended component units, although legally separate
entities, are, in substance, part of the City's operations and so data from these units are combined with
data of the primary government.
BLENDED COMPONENT UNIT
The EDA of the City of Oak Park Heights, Minnesota is a separate legal entity. The EDA board
members are substantially the same as the City council in that four of the five board members are
council members and the fifth board member is the City mayor. Separate financial statements are not
prepared by the EDA.
B.GOVERNMENT-WIDE AND FUND FINANCIAL STATEMENTS
The government-wide financial statements (i.e., the statement of net position and the statement of
changes in net position) report information on all of the nonfiduciary activities of the primary
government and its component units. For the most part, the effect of interfund activity has been
removed from these statements. Governmental activities, which normally are supported by taxes and
intergovernmental revenues, are reported separately from business-type activities, which rely to a
significant extent on fees and charges for support.
The statement of activities demonstrates the degree to which the direct expenses of a given function or
business-type activity is offset by program revenues. Direct expenses are those that are clearly
identifiable with a specific function or business-type activity. Program revenues include 1) charges to
customers or applicants who purchase, use, or directly benefit from goods, services, or privileges
provided by a given function or business-type activity and 2) grants and contributions that are restricted
to meeting the operational or capital requirements of a particular function or business-type activity.
Taxes and other items not included among program revenues are reported instead as general revenues.
Separate financial statements are provided for governmental funds, proprietary funds, and fiduciary
funds, even though the latter are excluded from the government-wide financial statements. Major
individual governmental funds and major individual enterprise funds are reported as separate columns
in the fund financial statements.
CITY OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2015
C.MEASUREMENT FOCUS, BASIS OF ACCOUNTING, AND FINANCIAL STATEMENT
PRESENTATION
The government-wide financial statements are reported using the economic resources measurement
focus and the accrual basis of accounting, as are the proprietary fund financial statements. Revenues
are recorded when earned and expenses are recorded when a liability is incurred, regardless of the
timing of related cash flows. Property taxes are recognized as revenues in the year for which they are
levied. Grants and similar items are recognized as revenue as soon as all eligibility requirements
imposed by the provider have been met. The City’s only fiduciary funds are agency funds. Agency
funds are custodial in nature (assets equal liabilities) and do not involve measurement of results of
operations.
Governmental fund financial statements are reported using the current financial resources measurement
focus and the modified accrual basis of accounting. Revenues are recognized as soon as they are both
measurable and available. Revenues are considered to be available when they are collectible within the
current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the
City considers all revenues, except reimbursement grants, to be available if they are collected within 60
days of the end of the current fiscal period. Reimbursement grants are considered available if they are
collected within one year of the end of the current fiscal period. Expenditures generally are recorded
when a liability is incurred, as under accrual accounting. However, debt service expenditures, as well
as expenditures related to compensated absences and claims and judgments, are recorded only when
payment is due.
Property taxes, special assessments, intergovernmental revenues, charges for services and interest
associated with the current fiscal period are all considered to be susceptible to accrual and so have been
recognized as revenues of the current fiscal period. Only the portion of special assessments receivable
due within the current fiscal period is considered to be susceptible to accrual as revenue of the current
period. All other revenue items are considered to be measurable and available only when cash is
received by the City.
The City reports the following major governmental funds:
TheGeneral Fund is the City’s primary operating fund. It accounts for all financial resources of
the general government, except those required to be accounted for in another fund.
TheTIF District #2 Special Revenue Fund is used to account for all the activity within that district.
TheG.O. CIP Refunding Bonds of 2012A Debt Service Fund is used to account for the
accumulation of resources for debt service payments on the 2012A bonds. The fund also holds
assets which will be used to refund the G.O. Capital Improvement Bonds of 2008 in the year 2016.
TheG.O. Capital Improvement Bonds of 2014A Debt Service Fund is used to account for the
accumulation of resources for debt service payments on the 2014A bonds.
TheCapital Revolving Capital Project Fund is used to account for monies set aside for various
capital improvements.
TheStreet Reconstruction Capital Project Fund accounts for the accumulation of funds to be used
for future street reconstruction projects.
CITY OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2015
TheRenewal and Replacement Capital Project Fund is used to account for assets depreciated from
the utility fund and water and sanitary sewer departments. Funds are used to renew or replace
water and sanitary sewer system assets.
The City reports the following major proprietary funds:
The Water Utility Fund accounts for assets, liabilities, revenues and expenditures for water utility
operations.
The Sewer Utility Fund accounts for assets, liabilities, revenues and expenditures for sewer utility
operations.
The Storm Sewer Utility Fund accounts for assets, liabilities, revenues and expenditures for storm
sewer utility operations.
Additionally, the City reports the following fund type:
Agency Funds account for the assets of various developers held by the City as an agent.
Internal Service Fund – this pension benefit fund is used to provide pension benefits to other funds
of the City on a cost reimbursement basis.
As a general rule the effect of interfund activity has been eliminated from the government-wide
financial statements. Exceptions to this general rule are transactions that would be treated as revenues,
expenditures or expenses if they involved external organizations, such as buying goods and services or
payments in lieu of taxes, are similarly treated when they involve other funds of the City. Elimination
of these charges would distort the direct costs and program revenues reported for the various functions
concerned.
Amounts reported as program revenues include 1) charges to customers or applicants for goods,
services, or privileges provided, 2) operating grants and contributions, and 3) capital grants and
contributions, including special assessments. Internally dedicated resources are reported as general
revenues rather than as program revenues. Likewise, general revenues include all taxes.
Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating
revenues and expenses generally result from providing services and producing and delivering goods in
connection with a proprietary fund’s principal ongoing operations. The principal operating revenues of
the enterprise funds are charges to customers for sales and services. Operating expenses for enterprise
funds include the cost of sales and services, administrative expenses, and depreciation on capital assets.
All revenues and expenses not meeting this definition are reported as nonoperating revenues and
expenses.
D.BUDGETS
Budgets are legally adopted on a basis consistent with generally accepted accounting principles.
Annual appropriated budgets are legally adopted for the General Fund, but not for Special Revenue
Funds. Budgeted expenditure appropriations lapse at year end.
CITY OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2015
Encumbrance accounting, under which purchase orders, contracts, and other commitments for the
expenditure of monies are recorded in order to reserve that portion of the appropriation, is not employed
by the City because it is at present not considered necessary to assure effective budgetary control or to
facilitate effective cash management.
E.LEGAL COMPLIANCE - BUDGETS
The City follows these procedures in establishing the budgetary data reflected in the financial
statements:
1. The City Administrator submits to the City Council a proposed operating budget for the fiscal
year commencing the following January 1. The operating budget includes proposed
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 on a departmental basis and can
be expended by each department based upon detailed budget estimates for individual
expenditure accounts.
4. The department heads are authorized to transfer appropriations under $500 within any
department budget. Additional interdepartmental or interfund appropriations and deletions are
or may be authorized by the City Council with fund (contingency) reserves or additional
revenues.
5. Formal budgetary integration is employed as a management control device during the year for
the General Fund.
6. Legal debt obligation indentures determine the appropriation level and debt service tax levies
for the Debt Service Funds. Supplementary budgets are adopted for the Proprietary Funds to
determine and calculate user charges. These debt service and budget amounts represent
general obligation bond indenture provisions and net income for operation and capital
maintenance and are not reflected in the financial statements.
7. A capital improvement program is reviewed annually by the City Council for the Capital
Project Funds. However, appropriations for major projects are not adopted until the actual bid
award of the improvement. The appropriations are not reflected in the financial statements.
8. Expenditures may not legally exceed budgeted appropriations at the total fund level.
Monitoring of budgets is maintained at the expenditure category level (i.e., personal services;
material and supplies; contractual services; capital outlay) within each department. All
amounts over budget have been approved by the City council through the disbursement
approval process.
9. The City Council may authorize transfer of budgeted amounts between City funds.
CITY OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2015
F.CASH AND INVESTMENTS
Cash and investment balances from all funds are pooled and invested to the extent available in
authorized investments. Earnings from investments are allocated to individual funds on the basis of the
fund's equity in the cash and investment pool.
Investments are stated at fair value, based upon quoted market prices, except for investments in 2a7-like
external investment pools, which are stated at amortized cost and approximate fair value. Investment
income is accrued at the balance sheet date.
For purposes of the statement of cash flows the Enterprise Funds consider all highly liquid investments
with a maturity of three months or less when purchased to be cash equivalents. All of the cash and
investments allocated to the Enterprise Funds have original maturities of 90 days or less. Therefore the
entire balance in the fund is considered cash equivalents.
G.RECEIVABLES AND PAYABLES
Property taxes and special assessments (see notes 1H and I) have been reported net of estimated
uncollectible accounts. Because utility bills are considered liens on property, no estimated uncollectible
amounts are established. Uncollectible amounts are not material for other receivables and have not
been reported.
H.PROPERTY TAX REVENUE RECOGNITION
The City Council annually adopts a tax levy and certifies it to the County in December (levy/assessment
date) of each year for collection in the following year. The County is responsible for billing and
collecting all property taxes for itself, the City, the local School District and other taxing authorities.
Such taxes become a lien on January 1 and are recorded as receivables by the City at that date. Real
property taxes are payable (by property owners) on May 15 and October 15 of each calendar year.
Personal property taxes are payable by taxpayers on February 28 and June 30 of each year. These taxes
are collected by the County and remitted to the City on or before July 7 and December 2 of the same
year. Delinquent collections for November and December are received the following January. The
City has no ability to enforce payment of property taxes by property owners. The County possesses this
authority.
Government-Wide Financial Statements
The City recognizes property tax revenue in the period for which the taxes were levied. Uncollectible
property taxes are not material and have not been reported.
Governmental Fund Financial Statements
The City recognizes property tax revenue when it becomes both measurable and available to finance
expenditures of the current period. In practice, current and delinquent taxes and State credits received
by the City in July, December and January are recognized as revenue for the current year. Taxes
collected by the County by December 31 (remitted to the City the following January) and taxes and
credits not received at year end are classified as delinquent and due from County taxes receivable. The
CITY OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2015
portion of delinquent taxes not collected by the City in January is fully offset by deferred inflows of
resources because they are not available to finance current expenditures.
I.SPECIAL ASSESSMENT REVENUE RECOGNITION
Special assessments are levied against benefited properties for the cost or a portion of the cost of special
assessment improvement projects in accordance with State Statutes. These assessments are collectible
by the City over a term of years usually consistent with the term of the related bond issue. Collection of
annual installments (including interest) is handled by the County Auditor in the same manner as
property taxes. Property owners are allowed to (and often do) prepay future installments without
interest or prepayment penalties.
Once a special assessment roll is adopted, the amount attributed to each parcel is a lien upon that
property until full payment is made or the amount is determined to be excessive by the City Council or
court action. If special assessments are allowed to go delinquent, the property is subject to tax forfeit
sale. Proceeds of sales from tax forfeit properties are allocated first to the County’s costs of
administering all tax forfeit properties. Generally, the City will collect the full amount of its special
assessments not adjusted by City Council or court action. Pursuant to State Statutes, a property shall be
subject to a tax forfeit sale after three years unless it is homesteaded, agricultural or seasonal
recreational land in which event the property is subject to such sale after five years.
Government-Wide Financial Statements
The City recognizes special assessment revenue in the period that the assessment roll was adopted by
the City Council. Uncollectible special assessments are not material and have not been reported.
Governmental Fund Financial Statements
Revenue from special assessments is recognized by the City when it becomes measurable and available
to finance expenditures of the current fiscal period. In practice, current and delinquent special
assessments received by the City are recognized as revenue for the current year. All remaining
delinquent and deferred assessments receivable in governmental funds are offset by deferred inflows of
resources.
J.INVENTORIES
The original cost of materials and supplies has been recorded as expenditures at the time of purchase.
The City does not maintain material amounts of inventories of goods and supplies.
K.PREPAID ITEMS
Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as
prepaid items in both government-wide and fund financial statements. Prepaid items are reported using
the consumption method and recorded as expenditure/expense at time of consumption.
CITY OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2015
L.CAPITAL ASSETS
Capital assets, which include property, plant, equipment and infrastructure assets (e.g., roads, bridges,
sidewalks, and similar items), are reported in the applicable governmental or business-type activities
columns in the government-wide financial statements. Capital assets are defined by the City as assets
with an initial, individual cost of more than $5,000 (amount not rounded) and an estimated useful life in
excess of one year. Such assets are recorded at historical cost or estimated historical cost if purchased
or constructed. Donated capital assets are recorded at estimated fair market value at the date of
donation.
In the case of the initial capitalization of general infrastructure assets (i.e., those reported by
governmental activities) the City chose to include all such items regardless of their acquisition date.
These assets are reported at historical cost.
The costs of normal maintenance and repairs that do not add to the value of the asset or materially
extend assets lives are not capitalized.
Major outlays for capital assets and improvements are capitalized as projects are constructed. Interest
incurred during the construction phase of capital assets of business-type activities is included as part of
the capitalized value of the assets constructed.For the year ended December 31, 2015, no interest was
capitalized in connection with construction in progress.
Property, plant and equipment of the primary government, as well as the component units, are
depreciated using the straight line method over the following estimated useful lives:
Buildings and structures 20 - 50 years
Machinery and equipment 3 - 20 years
Distribution and collection systems 50 years
Streets 25 years
Storm sewers 50 years
Pathways 20 years
M.COMPENSATED ABSENCES
It is the City’s policy to permit employees to accumulate earned but unused vacation and sick pay
benefits. All vacation pay and accumulated vested sick leave benefits is accrued when incurred in the
government-wide and proprietary fund financial statements.
A liability for these amounts is reported in governmental funds only if they have matured, for example,
as a result of employee resignations and retirements. In accordance with the provisions of Statement of
Government Accounting Standards No. 16, Accounting for Compensated Absences, no liability is
recorded for nonvesting accumulating rights to receive sick pay benefits.
CITY OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2015
N.LONG-TERM OBLIGATIONS
In the government-wide financial statements and proprietary fund types in the fund financial statements,
long-term debt and other long-term obligations are reported as liabilities in the applicable governmental
activities, business-type activities, or proprietary fund type statement of net position. Bond premiums
and discounts are amortized over the life of the bond.
In the fund financial statements, governmental fund types recognize bond premiums and discounts
during the current period. The face amount of debt issued is reported as other financing sources.
Premiums received on debt issuances are reported as other financing sources while discounts on debt
issuances are reported as other financing uses.
O.FUND BALANCE CLASSIFICATIONS
In the fund financial statements, governmental funds report fund balance in classifications that disclose
constraints for which amounts in those funds can be spent. These classifications are as follows:
Nonspendable - consists of amounts that are not in spendable form, such as prepaid items.
Restricted - consists of amounts related to externally imposed constraints established by creditors,
grantors or contributors; or constraints imposed by state statutory provisions.
Committed - consists of internally imposed constraints. These constraints are established by
Resolution of City Council.
Assigned - consistsof internally imposed constraints for the specific purpose of the City’s intended
use. Pursuant to the City’s Fund Balance Policy, the Finance Director and/or City Administrator
have been authorized to assign fund balance that reflects the City’s intended use of those funds.
Unassigned - is the residual classification for the general fund and also reflects negative residual
amounts in other funds.
When both restricted and unrestricted resources are available for use, it is the City’s policy to first use
restricted resources, and then use unrestricted resources as they are needed.
When committed, assigned or unassigned resources are available for use, it is the City’s policy to use
resources in the following order; 1) committed 2) assigned and 3) unassigned.
P.INTERFUND TRANSACTIONS
Interfund services provided and used are accounted for as revenues, expenditures or expenses.
Transactions that constitute reimbursements to a fund for expenditures/expenses initially made from it
that are properly applicable to another fund, are recorded as expenditures/expenses in the reimbursing
fund and as reductions of expenditures/expenses in the fund that is reimbursed. Interfund loans are
reported as an interfund loan receivable or payable which offsets the movement of cash between funds.
All other interfund transactions are reported as transfers.
CITY OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2015
Q.RECLASSIFICATIONS
Certain amounts presented in the prior year data have been reclassified in order to be consistent with the
current year’s presentation.
R.USE OF ESTIMATES
The preparation of financial statements in accordance with generally accepted accounting principles
(GAAP) requires management to make estimates that affect amounts reported in the financial
statements during the reporting period. Actual results could differ from such estimates.
S.COMPARATIVE TOTALS
The basic financial statements and combining and individual fund financial statements include certain
prior-year summarized comparative information in total but not at the level of detail required for a
presentation in conformity with generally accepted accounting principles. Accordingly, such
information should be read in conjunction with the City’s financial statements for the year ended
December 31, 2014, from which the summarized information was derived.
T.DEFERRED OUTFLOWS/INFLOWS OF RESOURCES
In addition to assets, the statement of financial position will sometimes report a separate section for
deferred outflows of resources. This separate financial statement element, deferred outflows of
resources, represents a consumption of net position that applies to a future period(s) and so will not be
recognized as an outflow of resources (expense/expenditure) until then. The City has one item that
qualifies for reporting in this category. It is the pension related deferred outflows of resources reported
in the government-wide Statement of Net Position and the Proprietary Funds Statement of Net Position.
In addition to liabilities, the statement of financial position will sometimes report a separate section for
deferred inflows of resources. This separate financial statement element, deferred inflows of resources,
represents an acquisition of net position that applies to a future period(s) and so will not be recognized
as an inflow of resources (revenue) until that time. The government has pension related deferred
inflows of resources reported in the government-wide Statement of Net Position and the proprietary
funds Statement of Net Position. The City also has a type of item, which arises only under a modified
accrual basis of accounting, that qualifies for reporting in this category. Accordingly, the item,
unavailable revenue, is reported only in the governmental fund balance sheet. The governmental funds
report unavailable revenues from the following sources: property taxes, special assessments, land held
for resale, and unavailable grant revenue.
CITY OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2015
Note 2 DEPOSITS AND INVESTMENTS
A. DEPOSITS
In accordance with Minnesota Statutes, the City maintains deposits at those depository banks authorized
by the City Council, all of which are members of the Federal Reserve System.
Minnesota Statutes require that all City deposits be protected by insurance, surety bond, or collateral.
The market value of collateral pledged must equal 110% of the deposits not covered by insurance or
bonds.
Minnesota Statutes require that securities pledged as collateral be held in safekeeping by the City
Treasurer or in a financial institution other than that furnishing the collateral. Authorized collateral
includes the following:
a)United States government treasury bills, treasury notes, treasury bonds;
b)Issues of United States government agencies and instrumentalities as quoted by a recognized
industry quotation service available to the government entity;
c)General obligation securities of any state or local government with taxing powers which is rated
“A” or better by a national bond rating service, or revenue obligation securities of any state or local
government with taxing powers which is rated “AA” or better by a national bond rating service;
d)Unrated general obligation securities of a local government with taxing powers may be pledged as
collateral against funds deposited by that same local government entity;
e)Irrevocable standby letters of credit issued by Federal Home Loan Banks to a municipality
accompanied by written evidence that the bank’s public debt is rated “AA” or better by Moody’s
Investors Service, Inc. or Standard & Poor’s Corporation; and
f)Time deposits that are fully insured by any Federal agency.
At December 31, 2015 the carrying amount of the City’s deposits with financial institutions was
$5,848,249.
Custodial credit risk – Deposits. Custodial credit risk is the risk that in the event of a bank failure, the
City’s deposits may not be returned to it. State statutes require that insurance, surety bonds or collateral
protect all City deposits. The market value of collateral pledged must equal 110% of deposits not
covered by insurance or bonds. As of December 31, 2015, the bank balance of the City’s deposits was
$5,118,125, all of which was either insured by the Federal Deposit Insurance Corporation (FDIC) or
covered by perfected pledged collateral held in the City’s name.
CITY OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2015
B. INVESTMENTS
Minnesota Statutes authorize the City to invest in the following:
a) Direct obligations or obligations guaranteed by the United States or its agencies, its
instrumentalities or organizations created by an act of congress, excluding mortgage-backed
securities defined as high risk.
b) Shares of investment companies registered under the Federal Investment Company Act of 1940 and
whose only investments are in securities described in (a) above, general obligation tax-exempt
securities, or repurchase or reverse repurchase agreements.
c) Obligations of the State of Minnesota or any of its municipalities as follows:
1)any security which is a general obligation of any state or local government with taxing powers
which is rated “A” or better by a national bond rating service;
2)any security which is a revenue obligation of any state or local government with taxing powers
which is rated “AA” or better by a national bond rating service; and
3)a general obligation of the Minnesota housing finance agency which is a moral obligation of
the State of Minnesota and is rated “A” or better by a national bond rating agency.
d) Bankers’ acceptance of United States banks eligible for purchase by the Federal Reserve System.
e) Commercial paper issued by United States corporations or their Canadian subsidiaries, of the
highest quality, and maturing in 270 days or less.
f) Repurchase or reverse repurchase agreements with banks that are members of the Federal Reserve
System with capitalization exceeding $10,000,000; a primary reporting dealer in U.S. government
securities to the Federal Reserve Bank of New York; certain Minnesota securities broker-dealers;
or, a bank qualified as a depositor.
g) General obligation temporary bonds of the same governmental entity issued under section 429.091,
subdivision 7; 469.178, subdivision 5; or 475.61, subdivision 6.
CITY OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2015
As of December 31, 2015 the City had the following investments and maturities:
Investment Maturities (in Years)
FairLess
Investment TypeRatingValueThan 11-56-10
Federal National Mortgage Assn. NotesAaa$5,425,336$ - $5,425,336$ -
Federal Home Loan Bank NotesAaa2,887,490 - 1,990,200897,290
Brokered certificates of depositNR8,776,7362,801,8375,312,877662,022
External investment pool - 4M FundNR1,262,5561,262,556 - -
Total$18,352,118$4,064,393$12,728,413$1,559,312
NR - Not RatedTotal investments$18,352,118
Deposits5,848,249
Petty cash100
Total cash and investments$24,200,467
The Minnesota Municipal Money Market Fund (4M Fund) is regulated by Minnesota Statutes and the Board
of Directors of the League of Minnesota Cities and is an external investment pool not registered with the
Securities Exchange Commission (SEC) that follows the same regulatory rules of the SEC under rule 2a7.
The fair value of the position in the pool is the same as the value of the pool shares.
Following is a reconciliation of the City’s cash and investment balances as of December 31, 2015:
Cash and investments:
Governmental and business-type (Statement 1)$18,999,236
Fiduciary (Statement 9)274,893
Cash with escrow agent4,926,338
Total cash and investments$24,200,467
C. INVESTMENT RISKS
Custodial credit risk – investments – For investments in securities, custodial credit risk is the risk that in
the event of failure of the counterparty to a transaction, the City will not be able to recover the value of
its investment securities that are in the possession of an outside party. Investments in investment pools
and money markets are not evidenced by securities that exist in physical or book entry form, and
therefore are not subject to custodial credit risk disclosures. The City’s investment policy does not
address custodial risk. However, investments in securities are held by the City’s broker-dealer of which
$2,000,000 is insured through SIPC. Each broker-dealer has provided additional protection by
providing additional insurance. This insurance is subject to aggregate limits applied to all of the
broker-dealer’s accounts.
Interest rate risk – Interest rate risk is the risk that changes in interest rates of debt investments could
adversely affect the fair value of an investment. The City’s investment policy requires the City to
diversify its investment portfolio to eliminate the risk of loss resulting from over concentration of assets
in a specific maturity. The policy also states the City’s investment portfolio will remain sufficiently
liquid to enable the City to meet all operating requirements which might be reasonably anticipated.
CITY OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2015
Credit risk – Credit risk is the risk that an issuer or other counterparty to an investment will be unable to
fulfill its obligation to the holder of the investment. Minnesota Statutes limit the City’s investments to
direct obligations or obligations under the Federal Investment Company Act of 1940 that receive the
highest credit rating, are rated in one of the two highest rating categories by a statistical rating agency,
and all of the investments have a final maturity of thirteen months or less; shares of a Minnesota joint
powers investment trust whose investments are restricted to securities described in 118.04; general
obligations of any state or local government with taxing powers which is rated “A” or better; revenue
obligations of any state or local government with taxing powers which is rated “AA” or better; general
obligations of the Minnesota Housing Finance Agency rated “A” or better; bankers’ acceptances of
United States banks eligible for purchase by the Federal Reserve System; commercial paper issued by
United States corporations or their Canadian subsidiaries, rated of the highest quality category by at
least two nationally recognized rating agencies, and maturing in 270 days or less; guaranteed
investment contracts guaranteed by a United States commercial bank, domestic branch of a foreign
bank or a United States insurance company, and with the credit quality in one of the top two highest
categories; repurchase or reverse purchase agreements and securities lending agreements with financial
institutions qualified as a “depository” by the government entity, with banks that are members of the
Federal Reserve System with capitalization exceeding $10,000,000, that are a primary reporting dealer
in U.S. government securities to the Federal Reserve Bank of New York, or certain Minnesota
securities brokers-dealers. The City’s investment policy does not place further restrictions on
investment options.
Concentration of credit risk – Concentration of credit risk is the risk of loss that may be attributed to the
magnitude of a government’s investment in a single issuer. The City places no limit on the amount the
City may invest in any one issuer. As of December 31, 2015, more than 5% of the City’s cash and
investments are in the following governmental agencies: Federal National Mortgage Association (22%)
and Federal Home Loan Bank (12%).
Note 3 RECEIVABLES
Significant receivable balances not expected to be collected within one year of December 31, 2015 are as
follows:
Storm Sewer
Utility
GeneralFundTotal
Delinquent property taxes$33,930$ - $33,930
Deferred special assessments728,3005,445733,745
Total$762,230$5,445$767,675
CITY OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2015
Note 4 UNAVAILABLE REVENUE
Governmental funds report deferred inflows of resources in connection with receivables for revenues that are not
considered to be available to liquidate liabilities of the current period. As of the end of the current fiscal year,
the various components of unavailable revenue reported in the governmental funds were as follows:
Unavailable
Property Special Land HeldGrant
TaxesAssesmentsfor ResaleRevenueTotal
Major funds:
General Fund$62,490$ - $ - $ - $62,490
Capital Improvement Bonds of 2014A - 814,102 - - 814,102
Capital Revolving Fund - - - 429,039429,039
Nonmajor funds - - 126,000 - 126,000
Total unavailable revenue$62,490$814,102$126,000$429,039$1,431,631
CITY OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2015
Note 5 CAPITAL ASSETS
Capital asset activity for the year ended December 31, 2015 was as follows:
BeginningEnding
BalanceIncreasesDecreasesBalance
Governmental activities:
Capital assets, not being depreciated:
Land$2,581,071$ - $ - $2,581,071
Construction in progress4,843,8284,038,228(3,901,798)4,980,258
Total capital assets, not being depreciated7,424,8994,038,228(3,901,798)7,561,329
Capital assets, being depreciated:
Buildings and structures7,600,119 - - 7,600,119
Other improvements1,505,928 - - 1,505,928
Machinery and equipment517,91427,684 - 545,598
Furniture and fixtures514,96119,469(17,695)516,735
Infrastructure12,939,2782,391,624(283,806)15,047,096
Total capital assets, being depreciated23,078,2002,438,777(301,501)25,215,476
Less accumulated depreciation for:
Buildings and structures821,881182,179 - 1,004,060
Other improvements350,61546,537 - 397,152
Machinery and equipment360,71738,355 - 399,072
Furniture and fixtures224,82142,741(13,555)254,007
Infrastructure7,137,549469,524(256,100)7,350,973
Total accumulated depreciation8,895,583779,336(269,655)9,405,264
Total capital assets being depreciated - net14,182,6171,659,441(31,846)15,810,212
Governmental activities capital assets - net$21,607,516$5,697,669($3,933,644)$23,371,541
BeginningEnding
BalanceIncreasesDecreasesBalance
Business-type activities:
Capital assets, not being depreciated:
Land$937,919$ - $ - $937,919
Total capital assets, not being depreciated937,91900937,919
Capital assets, being depreciated:
Buildings and structures2,047,665 - - 2,047,665
Machinery and equipment495,42029,984(11,285)514,119
Infrastructure7,760,4341,552,937(45,963)9,267,408
Total capital assets, being depreciated10,303,5191,582,921(57,248)11,829,192
Less accumulated depreciation for:
Buildings and structures882,55872,542 - 955,100
Machinery and equipment240,62825,296(11,284)254,640
Infrastructure3,343,922180,482(36,077)3,488,327
Total accumulated depreciation4,467,108278,320(47,361)4,698,067
Total capital assets being depreciated - net5,836,4111,304,601(9,887)7,131,125
Business-type activities capital assets - net$6,774,330$1,304,601($9,887)$8,069,044
CITY OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2015
Depreciation expense was charged to functions/programs of the primary government as follows:
Governmental activities:
General government$200,188
Public safety24,276
Public works428,756
Recreation126,116
Total depreciation expense - governmental activities$779,336
Business-type activities:
Water$188,525
Sewer89,795
Total depreciation expense - business-type activities$278,320
Note 6 LONG-TERM DEBT
The City issues general obligation bonds to provide funds for the acquisition and construction of major capital
facilities. The reporting entity’s long-term debt is segregated between the amounts to be repaid from
governmental activities and amounts to be repaid from business-type activities.
As of December 31, 2015, the long-term debt of the financial reporting entity consisted of the following:
FinalAuthorized
Issue Maturity Interest AndOutstanding
DateDateRateIssued12/31/15
Governmental activities:
Improvement bonds:
G.O. Capital Improvement Bonds, Series 2008A06/15/0812/15/282.5 - 4.4$6,300,000$5,090,000
G.O. Capital Improvement Bonds, Series 2009A09/15/0912/15/191.2 - 3.551,195,000545,000
G.O. CIP Refunding Bonds, Series 2012A12/01/1212/15/282.0 - 2.155,140,0005,140,000
G.O. Capital Improvement Bonds, Series 2014A06/05/1412/15/252.0 - 3.03,775,0003,610,000
Bond premium222,470
Compensated absences payable223,044
Total governmental activities14,830,514
Business-type activities:
Compensated absences payable48,557
Total City indebtedness$14,879,071
CITY OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2015
Annual debt service requirements to maturity are as follows:
YearGovernmental Activities
Ending2008A G.O. Cap Imp Bonds2009A G.O. Cap Imp Bonds2014A G.O. Cap Imp Bonds2012A G.O. CIP Ref. BondsTotal
December 31,PrincipalInterestPrincipalInterestPrincipalInterestPrincipalInterestPrincipalInterest
2016$5,090,000$208,000$125,000$17,678$ - $104,758$400,000$81,800$5,615,000$412,236
2017 - - 130,00014,115305,000104,758400,00073,800835,000192,673
2018 - - 140,00010,084320,00098,658400,00065,800860,000174,542
2019 - - 150,0005,325340,00092,258375,00057,800865,000155,383
2020 - - - - 360,00085,458375,00050,300735,000135,758
2021 - - - - 380,00078,258350,00042,800730,000121,058
2022 - - - - 400,00070,658350,00035,800750,000106,458
2023 - - - - 430,00062,658325,00028,800755,00091,458
2024 - - - - 455,00054,058325,00019,050780,00073,108
2025 - - - - 495,00044,958310,0009,300805,00054,258
2026 - - - - 525,00035,058 - - 525,00035,058
2027 - - - - 545,00024,295 - - 545,00024,295
2028 - - - - 585,00012,578 - - 585,00012,578
Total$5,090,000$208,000$545,000$47,202$5,140,000$868,411$3,610,000$465,250$14,385,000$1,588,863
It is not practicable to determine the specific year for payment of accrued compensated absences.
Change in Long-Term Liabilities
Long-term liability activity for the year ended December 31, 2015, was as follows:
BalanceBalanceDue Within
01/01/15AdditionsReductions12/31/15One Year
Governmental Activities:
Bonded debt:
Improvement bonds$9,745,000$ - ($500,000)$9,245,000$5,615,000
CIP refunding bonds5,140,000 - - 5,140,000 -
Bond premium241,808 - (19,338)222,470 -
Compensated absences215,02984,890(76,875)223,04447,069
Total governmental activities$15,341,837$84,890($596,213)$14,830,514$5,662,069
Business-Type Activities:
Compensated absences$32,935$18,178($2,556)$48,557$13,066
Total business-type activities$32,935$18,178($2,556)$48,557$13,066
For governmental activities, compensated absences are generally liquidated by the General Fund. All long-
term bonded indebtedness outstanding at December 31, 2015 is backed by the full faith and credit of the
City, including improvement bond issues. Delinquent taxes receivable at December 31, 2015 were $62,490.
CITY OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2015
Crossover Refunding – 2012A Bonds
On December 1, 2012, the City issued $5,140,000 in General Obligation Capital Improvement Plan
Crossover Refunding Bonds, Series 2012A with interest rates between 2.00% and 2.15% to advance refund
$4,860,000 of outstanding 2008A General Obligation Capital Improvement Bonds with interest rates
between 3.70% and 4.40%. The net proceeds were used to purchase U.S. government securities in the
amount of $5,179,790. Those securities were deposited in an irrevocable trust with an escrow agent to
provide for the interest on the refunding bonds before the crossover date and called principal on the
refunded bonds on December 15, 2016.
The City is responsible for the debt service of the refunded bonds through the crossover date (December 15,
2016) and the debt service of the refunding bonds after the crossover date. The debt service of the
refunding bonds before the crossover date is payable from the escrow account. Assets held with the escrow
agent total $4,926,338 at December 31, 2015.
The financial statements present each bond issue and the escrow account assets pursuant to GASB No. 7.
The effect on the financial statements is to report greater debt than, in substance, the City will be responsible
for paying.
The Refunding Bonds of 2012A are crossover refunding bonds whereby the City and the escrow agent are
responsible for the debt service payments as follows:
Debt Service Commitment
Year EndingRefundedRefundingEscrow
December 31,Bonds TotalBonds TotalAccountCity
2016$5,298,000$104,758$4,964,758$438,000
2017 - 409,758 - 409,758
2018 - 418,658 - 418,658
2019 - 432,258 - 432,258
2020 - 445,458 - 445,458
2021 - 458,258 - 458,258
2022 - 470,658 - 470,658
2023 - 492,658 - 492,658
2024 - 509,058 - 509,058
2025 - 539,958 - 539,958
2026 - 560,058 - 560,058
2027 - 569,295 - 569,295
2028 - 597,578 - 597,578
Total$5,298,000$6,008,411$4,964,758$6,341,653
CITY OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2015
Revenues Pledged
Revenue PledgedCurrent Year
Percent ofRemainingPrincipalPledged
Use ofTotalTerm ofPrincipaland InterestRevenue
Bond IssueProceedsTypeDebt ServicePledgeand InterestPaidReceived
2008ACity hall constructionProperty taxes100%2009 - 2028$5,298,000$430,417$430,000
2009ACity hall constructionProperty taxes100%2010 - 2019$592,202$140,858$140,000
Special assessments62%
Water fund
contribution
27%
2014AStreet reconstructionProptery taxes11%2015 - 2025$4,075,250$250,100$381,071
The City will begin making payments on the 2012A Bonds in 2017. Beginning then, the property taxes
pledged for the 2008A Bonds will be applied to the 2012A Bonds, as the 2008A Bonds will have been
refunded.
Note 7 DEFINED BENFIT PENSION PLANS
A.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Pensions. For purposes of measuring the net pension liability, deferred outflows/inflows of resources, and
pension expense, information about the fiduciary net position of the Public Employees Retirement
Association (PERA) and additions to/deductions from PERA’s fiduciary net position have been determined
on the same basis as they are reported by PERA except that PERA’s fiscal year end is June 30. For this
purpose, plan contributions are recognized as of employer payroll paid dates and benefit payments and
refunds are recognized when due and payable in accordance with the benefit terms. Investments are
reported at fair value.
B.PLAN DESCRIPTION
The City participates in the following cost-sharing multiple-employer defined benefit pension plans
administered by the Public Employees Retirement Association of Minnesota (PERA). PERA’s defined
benefit pension plans are established and administered in accordance with Minnesota Statutes, Chapters 353
and 356. PERA’s defined benefit pension plans are tax qualified plans under Section 401 (a) of the Internal
Revenue Code.
1. General Employees Retirement Fund (GERF)
All full-time (with the exception of employees covered by PEPFF) and certain part-time employees of
the City are covered by the General Employees Retirement Fund (GERF). GERF members belong to
either the Coordinated Plan or the Basic Plan. Coordinated Plan members are covered by Social
Security and Basic Plan members are not. The Basic Plan was closed to new members in 1967. All
new members must participate in the Coordinated Plan.
CITY OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2015
2. Public Employees Police and Fire Fund (PEPFF)
The PEPFF, originally established for police officers and firefighters not covered by a local relief
association, now covers all police officers and firefighters hired since 1980. Effective July 1, 1999, the
PEPFF also covers police officers and firefighters belonging to a local relief association that elected to
merge with and transfer assets and administration to PERA.
C.BENEFITS PROVIDED
PERA provides retirement, disability, and death benefits. Benefit provisions are established by state statute
and can only be modified by the state legislature.
Benefit increases are provided to benefit recipients each January. Increases are related to the funding ratio
of the plan. Members in plans that are at least 90 percent funded for two consecutive years are given 2.5%
increases. Members in plans that have not exceeded 90% funded, or have fallen below 80%, are given 1%
increases.
The benefit provisions stated in the following paragraphs of this section are current provisions and apply to
active plan participants. Vested, terminated employees who are entitled to benefits but are not receiving
them yet are bound by the provisions in effect at the time they last terminated their public service.
1.GERF Benefits
Benefits are based on a member’s highest average salary for any five successive years of allowable
service, age, and years of credit at termination of service. Two methods are used to compute benefits for
PERA's Coordinated and Basic Plan members. The retiring member receives the higher of a step-rate
benefit accrual formula (Method 1) or a level accrual formula (Method 2). Under Method 1, the annuity
accrual rate for a Basic Plan member is 2.2% of average salary for each of the first ten years of service
and 2.7% for each remaining year. The annuity accrual rate for a Coordinated Plan member is 1.2
percent of average salary for each of the first ten years and 1.7% for each remaining year. Under
Method 2, the annuity accrual rate is 2.7% of average salary for Basic Plan members and 1.7% for
Coordinated Plan members for each year of service. For members hired prior to July 1, 1989, a full
annuity is available when age plus years of service equal 90 and normal retirement age is 65. For
members hired on or after July 1, 1989, normal retirement age is the age for unreduced Social Security
benefits capped at 66.
2.PEPFF Benefits
Benefits for the PEPFF members first hired after June 30, 2010, but before July 1, 2014, vest on a
prorated basis from 50% after five years up to 100% after ten years of credited service. Benefits for
PEPFF members first hired after June 30, 2014, vest on a prorated basis from 50% after ten years up to
100% after twenty years of credited service. The annuity accrual rate is 3% of average salary for each
year of service. For PEPFF who were first hired prior to July 1, 1989, a full annuity is available when
age plus years of service equal at least 90.
CITY OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2015
D.CONTRIBUTIONS
Minnesota Statutes Chapter 353 sets the rates for employer and employee contributions. Contribution rates
can only be modified by the state legislature.
1.GERF Contributions
Basic Plan members and Coordinated Plan members were required to contribute 9.1% and 6.50%,
respectively, of their annual covered salary in calendar year 2015. The City was required to contribute
11.78% of pay for Basic Plan members and 7.50% for Coordinated Plan members in calendar year
2015. The City’s contributions to the GERF for the year ended December 31, 2015, were $54,492.
The City’s contributions were equal to the required contributions as set by state statute.
2.PEPFF Contributions
Plan members were required to contribute 10.8% of their annual covered salary in calendar year 2015.
The City was required to contribute 16.20% of pay for PEPFF members in calendar year 2015. The
City’s contributions to the PEPFF for the year ended December 31, 2015, were $143,144. The City’s
contributions were equal to the required contributions as set by state statute.
E.PENSION COSTS
1.GERF Pension Costs
At December 31, 2015, the City reported a liability of $627,085 for its proportionate share of the
GERF’s net pension liability. The net pension liability was measured as of June 30, 2015, and the total
pension liability used to calculate the net pension liability was determined by an actuarial valuation as
of that date. The City’s proportion of the net pension liability was based on the City’s contributions
received by PERA during the measurement period for employer payroll paid dates from July 1, 2014,
through June 30, 2015, relative to the total employer contributions received from all of PERA’s
participating employers. At June 30, 2015, the City’s proportion was .0121% which was a decrease of
.0020% from its proportion measured as of June 30, 2014.
For the year ended December 31, 2015, the City recognized pension expense of $59,890 for its
proportionate share of the GERF’s pension expense.
CITY OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2015
At December 31, 2015, the City reported its proportionate share of the GERF’s deferred outflows of
resources and deferred inflows of resources related to pensions from the following sources:
Deferred OutflowsDeferred Inflows
of Resourcesof Resources
Differences between expected and
actual economic experience$ - $31,616
Changes in actuarial assumptions - -
Difference between projected and
actual investment earnings59,363 -
Changes in proportion - 70,462
Contributions paid to PERA
subsequent to the measurement date27,614 -
Total$86,977$102,078
$27,614 reported as deferred outflows of resources related to pensions resulting from City contributions
subsequent to the measurement date will be recognized as a reduction of the net pension liability in the
year ended December 31, 2016. Other amounts reported as deferred outflows and inflows of resources
related to pensions will be recognized in pension expense as follows:
Pension
Year EndedExpense
December 31,Amount
2016($19,185)
2017(19,185)
2018(19,185)
201914,840
2020 -
Thereafter -
2. PEPFF Pension Costs
At December 31, 2015, the City reported a liability of $1,045,335 for its proportionate share of the
PEPFF’s net pension liability. The net pension liability was measured as of June 30, 2015, and the total
pension liability used to calculate the net pension liability was determined by an actuarial valuation as
of that date. The City’s proportion of the net pension liability was based on the City’s contributions
received by PERA during the measurement period for employer payroll paid dates from July 1, 2014,
through June 30, 2015, relative to the total employer contributions received from all of PERA’s
participating employers. At June 30, 2015, the City’s proportion was .0920% which was a decrease of
.0020% from its proportion measured as of June 30, 2014.
For the year ended December 31, 2015, the City recognized pension expense of $167,973 for its
proportionate share of the PEPFF’s pension expense. The City also recognized $8,280 for the year
ended December 31, 2015, as pension expense (and grant revenue) for its proportionate share of the
State of Minnesota’s on-behalf contributions to the PEPFF. Legislation passed in 2013 required the
State of Minnesota to begin contributing $9 million to the PEPFF each year, starting in fiscal year 2014.
CITY OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2015
At December 31, 2015, the City reported its proportionate share of the PEPFF’s deferred outflows of
resources and deferred inflows of resources related to pensions from the following sources:
Deferred OutflowsDeferred Inflows
of Resourcesof Resources
Differences between expected and
actual economic experience$ - $169,519
Changes in actuarial assumptions - -
Difference between projected and
actual investment earnings182,132 -
Changes in proportion - 18,001
Contributions paid to PERA
subsequent to the measurement date74,982 -
Total$257,114$187,520
$74,982 reported as deferred outflows of resources related to pensions resulting from City contributions
subsequent to the measurement date will be recognized as a reduction of the net pension liability in the
year ended December 31, 2016. Other amounts reported as deferred outflows and inflows of resources
related to pensions will be recognized in pension expense as follows:
Pension
Year EndedExpense
December 31,Amount
2016$8,029
20178,029
20188,029
20198,029
2020(37,504)
Thereafter -
F.ACTUARIAL ASSUMPTIONS
The total pension liability in the June 30, 2015, actuarial valuation was determined using the following
actuarial assumptions:
Inflation 2.75% per year
Active Member Payroll Growth 3.50% per year
Investment Rate of Return 7.90%
Salary increases were based on a service-related table. Mortality rates for active members, retirees,
survivors and disabilitants were based on RP-2000 tables for males or females, as appropriate, with
slight adjustments. Cost of living benefit increases for retirees are assumed to be 1% effective every
st
January 1 until 2034, and 2.5% thereafter.
CITY OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2015
Actuarial assumptions used in the June 30, 2015, valuation were based on the results of actuarial
experience studies. The experience study in the GERF was for the period July 1, 2004, through June
30, 2008, with an update of economic assumptions in 2014. The experience study for PEPFF was for
the period July 1, 2004 through June 30, 2009.
There are no changes in actuarial assumptions in 2015.
The long-term expected rate of return on pension plan investments is 7.9%. The State Board of
Investment, which manages the investments of PERA, prepares an analysis of the reasonableness of the
long-term expected rate of return on a regular basis using a building-block method in which best-
estimate ranges of expected future rates of return are developed for each major asset class. These
ranges are combined to produce an expected long-term rate of return by weighting the expected future
rates of return by the target asset allocation percentages. The target allocation and best estimates of
arithmetic real rates of return for each major asset class are summarized in the following table:
TargetLong-Term Expected
Asset ClassAllocationReal Rate of Return
Domestic Stocks45%5.50%
International Stocks15%6.00%
Bonds18%1.45%
Alternative Assets20%6.40%
Cash2%0.50%
G.DISCOUNT RATE
The discount rate used to measure the total pension liability was 7.9%. The projection of cash flows
used to determine the discount rate assumed that employee and employer contributions will be made at
the rate specified in statute. Based on that assumption, each of the pension plan’s fiduciary net position
was projected to be available to make all projected future benefit payments of current active and
inactive employees. Therefore, the long-term expected rate of return on pension plan investments was
applied to all periods of projected benefit payments to determine the total pension liability.
H.PENSION LIABILITY SENSITIVITY
The following presents the City’s proportionate share of the net pension liability for all plans it
participates in, calculated using the discount rate disclosed in the preceding paragraph, as well as what
the City’s proportionate share of the net pension liability would be if it were calculated using a discount
rate 1 percentage point lower or 1 percentage point higher than the current discount rate:
1% Decrease in1% Increase in
Discount Rate (6.9%)Discount Rate (7.9%)Discount Rate (8.9%)
City's proportionate share of the
GERF net pension liability$986,000$627,085$330,676
City's proportionate share of the
PEPFF net pension liability2,037,3691,045,335225,742
CITY OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2015
I.PENSION PLAN FIDUCIARY NET POSITION
Detailed information about each pension plan’s fiduciary net position is available in a separately-issued
PERA financial report that includes financial statements and required supplementary information. That
report may be obtained on the Internet at www.mnpera.org.
J.PENSION EXPENSE
Pension expense recognized by the City for the fiscal year ended December 31, 2015 is as follows:
GERF$59,890
PEPFF176,253
Total$236,143
K.DEFINED CONTRIBUTION PLAN
The City administrator does not participate in PERA, but is covered by a defined contribution plan
administered by the ICMA Retirement Corporation. The Plan is a tax qualified plan under Section 457
of the Internal Revenue Code and all contributions by or on behalf of the employee are tax deferred
until time of withdrawal.
Plan benefits depend solely on amounts contributed to the plan plus investment earnings, less
administrative expenses. The City Council specifies plan provisions, including employee and
employer contributions rates. An eligible participant contributes 0% of salary and the city contributes
10% of annual base salary.
Total contributions made by the City during fiscal year 2015 were:
Contribution AmountPercentage of Covered PayrollRequired
Employer
Employee(Pension Expense)EmployeeEmployerRate
0%$11,6050%10%10%
Note 8 POST EMPLOYMENT BENEFITS OTHER THAN PENSIONS
The City does not provide post employment benefits other than permitting retired employees to continue in the
City’s group health insurance plan, as required by Minnesota Statutes. The retiree is required to pay 100% of
the premium. The premium charged is age adjusted, so there is not an implicit rate subsidy for retirees who
continue on the plan.
The City is also required by State Statute to provide post-employment health care benefits for retired employees
disabled in the line of duty. The City hired an actuary and determined the liability resulting from disability is not
material and therefore not included in these financial statements.
CITY OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2015
Note 9 INTERFUND TRANSFERS
Major Funds
Capital Street Renewal and Nonmajor
Improvement ReconstructionReplacement Governmental
Bonds of 2014AFundFund FundsTotal
Transfers out:
Governmental activities:
General Fund$38,000$353,600$ - $1,136,275$1,527,875
Street Reconstruction Fund273,314 - 138,300179,800591,414
Renewal and Replacement Fund - 234,100 - - 234,100
Nonmajor Governmental Funds - 97,100 - - 97,100
Business-type activities:
Water Utility Fund100,000 - 142,125121,419363,544
Sewer Utility Fund - - 133,60440,838174,442
Storm Sewer Utility Fund - - - 3,7333,733
Total transfers$411,314$684,800$414,029$1,482,065$2,992,208
During 2015, the City made routine interfund transfers to accumulate resources to be used for capital
improvements and to fund debt service expenditures.
Note 10 CONTINGENCIES AND COMMITMENTS
A.ST. CROIX RIVER CROSSING PROJECT
During 2012 the State of Minnesota and Minnesota Department of Transportation (MNDOT) finalized
plans and received federal approval to construct an interstate bridge connecting Highway 36 in Oak
Park Heights and Houlton, Wisconsin. As a direct result of the MNDOT project, the City was obligated
to commit to relocate portions of its water, sewer and storm utility infrastructure along Highway 36 as
well as participate in other costs as a result of the Project. Accordingly, the City at the request of
MNDOT and the State of Minnesota has entered into agreements with MNDOT for the portions of the
impacted relocations or improvements and all related soft costs and expenses to the present utility
systems and for any related costs as a result of the Project in total. The estimated cost to the City for all
costs is anticipated to be a total cost of $467,349 and is dependent on the final timing to be determined
by MNDOT and their contractors.
B.FEDERAL AND STATE FUNDS
The City receives financial assistance from federal and state governmental agencies in the form of
grants. The disbursement of funds received under these programs generally requires compliance with
the terms and conditions specified in the grant agreements and are subject to audit by the grantor
agencies. Any disallowed claims resulting from such audits could become a liability of the applicable
fund. However, in the opinion of management, any such disallowed claims will not have a material
effect on any of the financial statements of the individual fund types included herein or on the overall
financial position of the City at December 31, 2015.
CITY OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2015
Note 11 RISK MANAGEMENT
The City is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors
and omissions; injuries to employees; and natural disasters.
Workers compensation coverage is provided through a pooled self-insurance program through the League of
Minnesota Cities Insurance Trust (LMCIT). The City pays an annual premium to LMCIT. The City is subject
to supplemental assessments if deemed necessary by the LMCIT. The LMCIT reinsures through Workers
Compensation Reinsurance Association (WCRA) as required by law. For workers compensation, the City is not
subject to a deductible. The City’s workers compensation coverage is retrospectively rated. With this type of
coverage, final premiums are determined after loss experience is known. The amount of premium adjustment, if
any, is considered immaterial and not recorded until received or paid.
Property and casualty insurance coverage is provided through a pooled self-insurance program through the
LMCIT. The City pays an annual premium to the LMCIT. The City is subject to supplemental assessments if
deemed necessary by the LMCIT. The LMCIT reinsures through commercial companies for claims in excess
various amounts. The City retains risk for deductible portions. These deductibles are considered immaterial to
the financial statements.
Employee health and disability insurance is provided through commercial insurance. The City does not have a
deductible or yearly maximum on this insurance.
There were no significant reductions in insurance from the previous year or settlements in excess of insurance
coverage for any of the past three fiscal years.
CITY OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2015
Note 12 FUND BALANCE
A.CLASSIFICATIONS
Definitions of fund balance classifications are included in Note 1.O. At December 31, 2015, a
summary of the governmental fund balance classifications are as follows:
G.O. CIP
RefundingG.O. CapitalCapitalRenewal andOther
TIFBonds ofImprovementStreetRevolvingReplacementGovernmental
General FundDistrict #22012ABonds of 2014ReconstructionFundFundFundsTotal
Nonspendable:
Prepaid items$57,602$ - $ - $ - $ - $ - $ - $ - $57,602
Restricted for:
Law enforcement - - - - - - - 9,0969,096
Tax increment - - - - - - - 86,34186,341
Debt service - - 4,941,7251,164,719 - - - 115,7406,222,184
Small cities grant54,188 - - - - - - - 54,188
Park improvements - - - - - - - 198,995198,995
Moelter Park improvements - - - - - - - 345,511345,511
Total restricted54,18804,941,7251,164,719000755,6836,916,315
Assigned for:
Compensated absences165,000 - - - - - - - 165,000
Capital purposes - - - - - 1,682,0413,204,2236,085,57310,971,837
Street reconstruction - - - - 26,189 - - - 26,189
Economic development - - - - - - - 33,25233,252
Total assigned165,00000026,1891,682,0413,204,2236,118,82511,196,278
Unassigned4,355,743(406,043) - - - - - - 3,949,700
Total$4,632,533($406,043)$4,941,725$1,164,719$26,189$1,682,041$3,204,223$6,874,508$22,119,895
B.MINIMUM UNASSIGNED FUND BALANCE POLICY
The City Council has formally adopted a policy regarding the minimum unassigned fund balance for the
General Fund. The most significant revenue source of the General Fund is property taxes. This
revenue source is received in two installments during the year – June and December. As such, it is the
City’s goal to begin each fiscal year with sufficient working capital to fund operations between each
semi-annual receipt of property taxes.
The policy states the City will maintain an unassigned fund balance in the General Fund for the
following purposes and in the following amounts:
For cash flow needs – an amount should be established equal to 45-55% of the subsequent
year’s budgeted operating expenditures.
For emergencies or contingencies (such as revenue shortfalls or unexpected budget over runs)
– an amount should be established equal to 10 – 15% of the ensuing year’s General Fund
operating expenditures.
At December 31, 2015, the unassigned fund balance of the General Fund was $4,355,743 which
sufficiently meets the cash flow and emergency needs described above.
CITY OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2015
Note 13 MAJOR TAXPAYER
The City has one major taxpayer, Xcel Energy. The total tax capacity value for this taxpayer represented
approximately 40.89% of the City's total tax capacity value for taxes payable in 2015.
Note 14 TAX INCREMENT DISTRICT
The City is the administrating authority for Tax Increment District 1-1 (Oakgreen Project). During 2010, the
City and the developer signed a $1,200,000 tax increment pay-as-you-go revenue note relating to this district.
The note is not a general obligation of the City and is payable solely from available tax increments.
Accordingly, the note is not reflected in the financial statements of the City. A summary of the note is as
follows:
Tax Increment Revenue Note, TIF 1-1 – issued in 2010 in the principal sum of $1,200,000 with an interest rate
of 6.90% per annum. Principal and interest payments shall be payable on each February 1 and August 1
following the date of the note to and including February 1, 2026. Payments are payable solely from available tax
increment, which shall mean 80% of the tax increment derived from the development property and received by
the City. The City shall have no obligation to pay unpaid balance of principal or accrued interest that may
remain after the final payment on February 1, 2026. At December 31, 2015 the principal amount outstanding on
the note was $1,200,000.
Note 15 CONDUIT DEBT OBLIGATIONS
From time to time, the City has issued Rental Housing or Industrial Revenue Bonds to provide financial
assistance to private-sector entities for the acquisition and construction of rental housing, office space or a clinic
deemed to be in the public interest. The bonds are secured by the property financed and are payable solely from
payments received on the underlying mortgage loans. Upon repayment of the bonds, ownership of the acquired
facilities transfers to the private-sector entity served by the bond issuance. Neither the City, the State, nor any
political subdivision thereof is obligated in any manner for repayment of the bonds. Accordingly, the bonds are
not reported as liabilities in the accompanying financial statements.
As of December 31, 2015, there were five series of Industrial Revenue Bonds outstanding. The principal
amount payable at December 31, 2015 was $97,760,000.
CITY OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2015
Note 16 OPERATING LEASES
The City leases space in and above its water tower. The space is used for antennas and other equipment necessary to
provide radio communications. Lease terms are as follows:
2015
LeaseAnnual LeaseExpirationRenewal
LocationLesseeAmountAdjustment Factor*DateOptions
58th and NorrellSprint PCS$36,944Greater of CPI or 5%9/20/20191 5-year term
*Amounts for future lease receipts are unavailable because they are based on the Consumer Price Index.
Note 17 RECENTLY ISSUED ACCOUNTING STANDARDS
The Governmental Accounting Standards Boards (GASB) recently approved the following statements which
were not implemented for these financial statements:
Statement No. 72Fair Value Measurement and Application. The provisions of this Statement are effective
for financial statements for periods beginning after June 15, 2015.
Statement No. 73Accounting and Financial Reporting for Pensions and Related Assets That Are Not
within the Scope of GASB Statement 68, and Amendments to Certain Provisions of GASB Statements 67 and
68. The provisions in Statement 73 are effective for fiscal years beginning after June 15, 2015 – except
those provisions that address employers and governmental nonemployer contributing entities for pensions
that are not within the scope of Statement 68, which are effective for fiscal years beginning after June 15,
2016.
Statement No. 74Financial Reporting for Postemployment Benefit Plans Other Than Pension Plans. The
provisions in Statement 74 are effective for fiscal years beginning after June 15, 2016.
Statement No. 75Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions.
The provisions in Statement 75 are effective for fiscal years beginning after June 15, 2017.
Statement No. 76The Hierarchy of Generally Accepted Accounting Principles for State and Local
Governments. The provisions in Statement 76 are effective for reporting periods beginning after June 15,
2015.
Statement No. 77Tax Abatement Disclosures. The provisions of this Statement are effective for reporting
periods beginning after December 31, 2015.
Statement No. 78Pensions Provided through Certain Multiple-Employer Defined Benefit Pension Plans.
The provisions of this Statement are effective for reporting periods beginning after December 15, 2015.
CITY OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2015
Statement No. 79Certain External Investment Pools and Pool Participants. The provisions of this
Statement are effective for reporting periods beginning after June 15, 2015, except for certain provisions on
portfolio quality, custodial credit risk, and shadow pricing which are effective for reporting periods
beginning after December 15, 2015.
Statement No. 80Blending Requirements for Certain Component Units.. The provisions of this Statement
are effective for reporting periods beginning after June 15, 2016.
Statement No. 81Irrevocable Split-Interest Agreements. The provisions of this Statement are effective for
reporting periods beginning after December 15, 2016.
The effect these standards may have on future financial statements is not determinable at this time.
Note 18 CHANGE IN ACCOUNTING PRINCIPLE
For the year ended December 31, 2015, the City implemented GASB Statement No. 68, Accounting and
Financial Reporting for Pensions – an Amendment of GASB Statement No. 27. GASB 68 addresses accounting
and financial reporting for pension plans that are provided to employees of state and local governments. The
standard requires the City to record its share of the net pension liability of defined benefit plans, as well as any
corresponding deferred inflows and outflows of resources. See Note 7 for further information.
The standard required retroactive implementation which resulted in a restatement of net position as of December
31, 2014. Certain amounts necessary to fully restate 2014 financial information are not determinable, therefore,
prior year comparative amounts have not been restated. Details of the prior period adjustment are as follows:
GovernmentalInternal Service Fund
ActivitiesPension Benefits
Net position - January 1, 2015, as previously reported$30,370,432$ -
Prior period adjustment:
Deferred outflows of resources - pension related84,72084,720
Net pension liability(1,672,420)(1,672,420)
Net position - January 1, 2015, as restated$28,782,732($1,587,700)
REQUIRED SUPPLEMENTARY INFORMATION
CITY OF OAK PARK HEIGHTS, MINNESOTA
REQUIRED SUPPLEMENTARY INFORMATIONStatement 10
BUDGETARY COMPARISON SCHEDULE - GENERAL FUNDPage 1 of 4
For The Year Ended December 31, 2015
With Comparative Actual Amounts For The Year Ended December 31, 2014
Variance
with Final
Budget -
2015 Actual Positive2014 Actual
Amounts(Negative)Amounts
Budgeted Amounts
OriginalFinal
Revenues:
Property taxes$5,022,731$5,022,731$5,053,681$30,950$4,836,318
Abatement of property taxes - - (21,976)(21,976)(289,042)
Payment in lieu of taxes70,00070,00073,2513,25173,245
Total property taxes5,092,7315,092,7315,104,95612,2254,620,521
Intergovernmental:
PERA aid2,0402,0402,039(1)2,040
Police aid60,00060,00078,43518,43576,839
Recycling grant9,0009,00014,2425,24214,074
Safe and Sober grant12,00012,0007,067(4,933)8,393
Small Cities grant - - 54,18854,188 -
Other public works grants - - 9389381,937
Total intergovernmental83,04083,040156,90973,869103,283
Licenses and permits51,83051,830125,70473,874137,543
Charges for services:
General government10,15010,15035,03424,88438,633
Administrative - Enterprise Fund4,2484,2484,242(6)4,248
Development charge40,00040,000109,36569,36541,985
Total charges for services54,39854,398148,64194,24384,866
Fines and forfeits45,00045,00064,51519,51556,537
Investment income - - 18,62118,62173,412
Refunds and reimbursements75,00075,000108,38533,385105,153
Donations and contributions - - 4,5504,550200
Total revenues5,401,9995,401,9995,732,281330,2825,181,515
Expenditures:
General government:
Mayor and city council:
Current:
Personal services60,32060,32055,8254,49557,675
Materials and supplies500500298202135
Other services and charges42,23542,23533,3668,86929,439
Total mayor and city council103,055103,05589,48913,56687,249
City administration:
Current:
Personal services231,275231,275231,072203217,754
Materials and supplies2,3502,3501,8924582,159
Other services and charges48,11048,11046,0042,10643,765
Total City administration281,735281,735278,9682,767263,678
Legal:
Current:
Personal services30,00030,00044,881(14,881)26,496
General management and building:
Current:
Materials and supplies11,90011,9008,0793,8219,053
Other services and charges164,360164,360134,77929,581150,448
Total general management and building176,260176,260142,85833,402159,501
CITY OF OAK PARK HEIGHTS, MINNESOTA
REQUIRED SUPPLEMENTARY INFORMATIONStatement 10
BUDGETARY COMPARISON SCHEDULE - GENERAL FUNDPage 2 of 4
For The Year Ended December 31, 2015
With Comparative Actual Amounts For The Year Ended December 31, 2014
Variance
with Final
Budget -
2015 Actual Positive2014 Actual
Amounts(Negative)Amounts
Budgeted Amounts
OriginalFinal
Expenditures: (continued)
General government: (continued)
Elections:
Current:
Personal services$ - $ - $820($820)$4,386
Materials and supplies - - 32(32)620
Other services and charges1,3001,300604696973
Total elections1,3001,3001,456(156)5,979
Finance:
Current:
Personal services230,433230,433153,51576,918177,604
Materials and supplies3,2003,2001,2711,9291,259
Other services and charges43,67543,67525,55018,12528,641
Total finance277,308277,308180,33696,972207,504
Computer system:
Current:
Materials and supplies5,9005,9001,1114,7894,456
Other services and charges38,20038,20035,6152,58528,280
Total computer system44,10044,10036,7267,37432,736
Audit:
Current:
Personal services29,50029,50030,555(1,055)26,903
Insurance:
Current:
Other services and charges380,192380,192354,93925,253355,574
Assessing:
Current:
Personal services23,50023,50022,71678422,608
Planning and zoning:
Current:
Personal services30,00030,00034,100(4,100)23,800
Materials and supplies200200 - 200 -
Other services and charges1,8001,800935865800
Total planning and zoning32,00032,00035,035(3,035)24,600
Engineering:
Current:
Other services and charges27,85027,85024,3103,54017,991
General contingency:
Current:
Other services and charges16,88316,8838,2298,65412,645
Total general government1,423,6831,423,6831,250,498173,1851,243,464
CITY OF OAK PARK HEIGHTS, MINNESOTA
REQUIRED SUPPLEMENTARY INFORMATIONStatement 10
BUDGETARY COMPARISON SCHEDULE - GENERAL FUNDPage 3 of 4
For The Year Ended December 31, 2015
With Comparative Actual Amounts For The Year Ended December 31, 2014
Variance
with Final
Budget -
2015 Actual Positive2014 Actual
Amounts(Negative)Amounts
Budgeted Amounts
Expenditures: (continued)OriginalFinal
Public safety:
Police department:
Current:
Personal services$1,024,656$1,024,656$1,012,598$12,058$963,201
Materials and supplies61,30061,30045,82815,47249,641
Other services and charges236,620236,620224,34212,278204,678
Total police department1,322,5761,322,5761,282,76839,8081,217,520
Building inspections:
Current:
Personal services81,28881,28884,313(3,025)78,610
Materials and supplies3,3003,3007792,5211,018
Other services and charges22,69622,69613,4849,21214,029
Total building inspections107,284107,28498,5768,70893,657
Fire protection:
Current:
Materials and supplies2,0002,0002,000 - 2,000
Other services and charges228,238228,238225,1473,091216,720
Total fire protection230,238230,238227,1473,091218,720
Civil defense:
Current:
Other services and charges3,6003,6009752,6253,589
Animal control:
Current:
Materials and supplies150150609060
Other services and charges1,5001,5001,3051951,335
Total animal control1,6501,6501,3652851,395
Total public safety1,665,3481,665,3481,610,83154,5171,534,881
Public works:
Street maintenance:
Current:
Personal services26,11526,11525,0891,02624,466
Materials and supplies15,10015,1007,8477,2539,373
Other services and charges40,16040,16031,6318,52931,602
Total street maintenance81,37581,37564,56716,80865,441
Snow removal:
Current:
Materials and supplies1,0001,000 - 1,000561
Other services and charges201,000201,00079,726121,274193,950
Total snow removal202,000202,00079,726122,274194,511
Sanitation:
Current:
Other services and charges203,650203,650199,7713,879197,801
Street lighting:
Current:
Other services and charges76,00076,00066,9359,06561,577
CITY OF OAK PARK HEIGHTS, MINNESOTA
REQUIRED SUPPLEMENTARY INFORMATIONStatement 10
BUDGETARY COMPARISON SCHEDULE - GENERAL FUNDPage 4 of 4
For The Year Ended December 31, 2015
With Comparative Actual Amounts For The Year Ended December 31, 2014
Variance
with Final
Budget -
2015 Actual Positive2014 Actual
Amounts(Negative)Amounts
Budgeted Amounts
OriginalFinal
Expenditures: (continued)
Public works: (continued)
Arborist:
Current:
Personal services$18,500$18,500$11,730$6,770$13,975
Materials and supplies10010097315
Other services and charges300300708(408) -
Total arborist18,90018,90012,5356,36513,990
Tree removal and planting:
Current:
Other services and charges35,00035,00035,473(473)34,622
Total public works616,925616,925459,007157,918567,942
Parks and recreation:
Parks, playgrounds and rinks:
Current:
Personal services69,20069,20058,90310,29759,649
Materials and supplies30,20030,20028,7671,43324,367
Other services and charges71,76871,76866,6745,09465,770
Total parks and recreation171,168171,168154,34416,824149,786
Total expenditures3,877,1243,877,1243,474,680402,4443,496,073
Revenues over expenditures
1,524,8751,524,8752,257,601732,7261,685,442
Other financing sources (uses):
Sale of property - - - - 44,400
Transfers in - - - - 2,467
Transfers out(1,524,875)(1,524,875)(1,527,875)(3,000)(1,343,873)
Total other financing sources (uses)(1,524,875)(1,524,875)(1,527,875)(3,000)(1,297,006)
Net change in fund balance$0$0729,726$729,726388,436
Fund balance - January 1 3,902,8073,514,371
Fund balance - December 31$4,632,533$3,902,807
CITY OF OAK PARK HEIGHTS, MINNESOTA
REQUIRED SUPPLEMENTARY INFORMATIONStatement 11
SCHEDULE OF PROPORTIONATE SHARE OF NET PENSION LIABILITY* -
GENERAL EMPLOYEES RETIREMENT FUND
For The Year Ended December 31, 2015
Proportionate Share
Proportionateof the Net PensionPlan Fiduciary
ProportionShare (Amount)Liability as aNet Position as
(Percentage) ofof the NetCovered-Percentage of itsa Percentage
Measurement Fiscal Yearthe Net PensionPensionEmployeeCovered-Employeeof the Total
DateEndingLiabilityLiability (a)Payroll (b)Payroll (a/b)Pension Liability
June 30, 2015December 31, 20150.0121%$627,085$710,89888.2%78.2%
* The schedule is provided prospectively beginning with the City's fiscal year ended December 31, 2015 and is intended to
show a ten year trend. Additional years will be reported as they become available.
CITY OF OAK PARK HEIGHTS, MINNESOTA
REQUIRED SUPPLEMENTARY INFORMATIONStatement 12
SCHEDULE OF PENSION CONTRIBUTIONS* - GENERAL EMPLOYEES RETIREMENT FUND
For The Year Ended December 31, 2015
StatutorilyContributions inContributionCovered-Contributions as a
Required Relation to theDeficiencyEmployeePercentage of
Fiscal YearContributionStatutorily Required(Excess)PayrollCovered-Employee
Ending(a)Contribution (b)(a-b)(c)Payroll (b/c)
December 31, 2015$54,492$54,492$0$726,5547.5%
* The schedule is provided prospectively beginning with the City's fiscal year ended December 31, 2015 and is intended to
show a ten year trend. Additional years will be reported as they become available.
CITY OF OAK PARK HEIGHTS, MINNESOTA
REQUIRED SUPPLEMENTARY INFORMATIONStatement 13
SCHEDULE OF PROPORTIONATE SHARE OF NET PENSION LIABILITY* -
PUBLIC EMPLOYEES POLICE AND FIRE FUND
For The Year Ended December 31, 2015
Proportionate Share
Proportionateof the Net PensionPlan Fiduciary
ProportionShare (Amount)Liability as aNet Position as
(Percentage) ofof the NetCovered-Percentage of itsa Percentage
Measurement Fiscal Yearthe Net PensionPensionEmployeeCovered-Employeeof the Total
DateEndingLiabilityLiability (a)Payroll (b)Payroll (a/b)Pension Liability
June 30, 2015December 31, 20150.0920%$1,045,335$841,195124.3%86.6%
* The schedule is provided prospectively beginning with the City's fiscal year ended December 31, 2015 and is intended to
show a ten year trend. Additional years will be reported as they become available.
CITY OF OAK PARK HEIGHTS, MINNESOTA
REQUIRED SUPPLEMENTARY INFORMATIONStatement 14
SCHEDULE OF PENSION CONTRIBUTIONS* - PUBLIC EMPLOYEES POLICE AND FIRE FUND
For The Year Ended December 31, 2015
StatutorilyContributions inContributionCovered-Contributions as a
Required Relation to theDeficiencyEmployeePercentage of
Fiscal YearContributionStatutorily Required(Excess)PayrollCovered-Employee
Ending(a)Contribution (b)(a-b)(c)Payroll (b/c)
December 31, 2015$143,144$143,144$0$883,60816.2%
* The schedule is provided prospectively beginning with the City's fiscal year ended December 31, 2015 and is intended to
show a ten year trend. Additional years will be reported as they become available.
CITY OF OAK PARK HEIGHTS, MINNESOTA
REQUIRED SUPPLEMENTARY INFORMATION
BUDGETARY COMPARISON SCHEDULE
NOTE TO RSI
December 31, 2015
Note A LEGAL COMPLIANCE – BUDGETS
The General Fund budget is legally adopted on a basis consistent with accounting principles generally accepted
in the United States of America. The legal level of budgetary control is at the department level for the General
Fund.
Note B PENSION INFORMATION
PERA – General Employees Retirement Fund
There are no factors that affect trends in the amounts reported, such as change of benefit terms or
assumptions. With only one year reported in the RSI, there is no additional information to include in the
notes. Details can be obtained from the financial reports of PERA.
PERA – Public Employees Police and Fire Fund
There are no factors that affect trends in the amounts reported, such as change of benefit terms or
assumptions. With only one year reported in the RSI, there is no additional information to include in the
notes. Details can be obtained from the financial reports of PERA.
COMBINING AND INDIVIDUAL NONMAJOR
FUND FINANCIAL STATEMENTS
NONMAJOR GOVERNMENTAL FUNDS
CITY OF OAK PARK HEIGHTS, MINNESOTA
COMBINING BALANCE SHEETStatement 15
NONMAJOR GOVERNMENTAL FUNDS
December 31, 2015
With Comparative Totals For December 31, 2014
Totals
Nonmajor
SpecialDebtCapitalGovernmental Funds
AssetsRevenueServiceProject20152014
Cash and investments$202,019$115,413$6,634,987$6,952,419$5,956,348
Accrued interest receivable23032711,63112,18812,016
Accounts receivable - net2,000 - - 2,000100
Due from other governments - - 1,5251,525 -
Land held for resale126,000 - - 126,000126,200
Total assets$330,249$115,740$6,648,143$7,094,132$6,094,664
Liabilities, Deferred Inflows of Resources, and Fund Balance
Liabilities:
Accounts payable$75,560$ - $14,831$90,391$50,844
Unearned revenue - - 3,2333,2333,079
Total liabilities75,560018,06493,62453,923
Deferred inflows of resources:
Unavailable revenue126,000 - - 126,000126,200
Fund balance:
Restricted95,437115,740544,506755,683843,723
Assigned33,252 - 6,085,5736,118,8255,070,818
Total fund balance128,689115,7406,630,0796,874,5085,914,541
Total liabilities, deferred inflows
of resources, and fund balance$330,249$115,740$6,648,143$7,094,132$6,094,664
CITY OF OAK PARK HEIGHTS, MINNESOTA
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND Statement 16
CHANGES IN FUND BALANCE
NONMAJOR GOVERNMENTAL FUNDS
For The Year Ended December 31, 2015
With Comparative Totals For The Year Ended December 31, 2014
Totals
Special DebtCapitalNonmajor Governmental Funds
RevenueServiceProject20152014
Revenues:
Tax increment$184,251$ - $ - $184,251$125,120
Charges for services - - 252,906252,90635,184
Fines and forfeits2,655 - - 2,6556,348
Investment income6701,24840,51642,434129,006
Refunds and reimbursements1,001 - 17,47518,4761,400
Total revenues188,577 1,248 310,897 500,722 297,058
Expenditures:
Current:
General government148,109 - 91,386239,495171,497
Public safety9,962 - - 9,962506
Public works - - 19,91319,91314,656
Parks and recreation - - 22,07222,07213,106
Capital outlay - - 63,00363,00346,151
Debt service:
Principal - 335,000 - 335,000315,000
Interest - 236,275 - 236,275245,578
Total expenditures158,071 571,275 196,374 925,720 806,494
Revenues over (under) expenditures30,506 (570,027)114,523 (424,998)(509,436)
Other financing sources (uses):
Transfers in3,000570,000909,0651,482,0651,166,234
Transfers out - - (97,100)(97,100)(491,191)
Total other financing sources (uses)3,000 570,000 811,965 1,384,965 675,043
Net change in fund balance33,506 (27)926,488 959,967 165,607
Fund balance - January 195,183115,7675,703,5915,914,5415,748,934
Fund balance - December 31$128,689$115,740$6,630,079$6,874,508$5,914,541
CITY OF OAK PARK HEIGHTS, MINNESOTA
SUBCOMBINING BALANCE SHEETStatement 17
NONMAJOR SPECIAL REVENUE FUNDS
December 31, 2015
With Comparative Totals For December 31, 2014
202 Forfeiture 204 Economic 205 TIF
Totals Nonmajor Special
and SeizureDevelopmentDistrict #1
Revenue Funds
Assets20152014
Cash and investments$9,196$33,188$159,635$202,019$145,086
Accrued interest receivable2564141230145
Accounts receivable - - 2,0002,000 -
Land held for resale - 126,000 - 126,000126,200
Total assets$9,221$159,252$161,776$330,249$271,431
Liabilities, Deferred Inflows of Resources, and Fund Balance
Liabilities:
Accounts payable$125$ - $75,435$75,560$50,048
Due to other governments - - - - -
Total liabilities125075,43575,56050,048
Deferred inflows of resources:
Unavailable revenue - 126,000 - 126,000126,200
Fund balance:
Restricted9,096 - 86,34195,43763,164
Assigned - 33,252 - 33,25232,019
Total fund balance9,09633,25286,341128,68995,183
Total liabilities, deferred infows
of resources, and fund balance$9,221$159,252$161,776$330,249$271,431
CITY OF OAK PARK HEIGHTS, MINNESOTA
SUBCOMBINING STATEMENT OF REVENUES,Statement 18
EXPENDITURES AND CHANGES IN FUND BALANCE
NONMAJOR SPECIAL REVENUE FUNDS
For The Year Ended December 31, 2015
With Comparative Totals For The Year Ended December 31, 2014
202 Forfeiture 204 Economic 205 TIF Totals Nonmajor Special
and SeizureDevelopmentDistrict #1Revenue Funds
20152014
Revenues:
Tax increment$ - $ - $184,251$184,251$125,120
Confiscated property2,655 - - 2,6556,348
Investment income992323396701,836
Refunds and reimbursements - 1,001 - 1,001 -
Total revenues2,754 1,233 184,590 188,577 133,304
Expenditures:
Current:
General government - - 148,109148,109100,649
Public safety9,962 - - 9,962506
Total expenditures9,962 0 148,109 158,071 101,155
Revenues over (under) expenditures(7,208)1,233 36,481 30,506 32,149
Other financing sources (uses):
Transfers in3,0000 03,0005,049
Net change in fund balance(4,208)1,233 36,481 33,506 37,198
Fund balance - January 113,30432,01949,86095,18357,985
Fund balance - December 31$9,096$33,252$86,341$128,689$95,183
CITY OF OAK PARK HEIGHTS, MINNESOTA
SUBCOMBINING BALANCE SHEETStatement 19
NONMAJOR DEBT SERVICE FUNDS
December 31, 2015
With Comparative Totals For December 31, 2014
526 G.O. 527 G.O.
CapitalCapital
ImprovementImprovement
Bonds of 2008Bonds of 2009Total Nonmajor Debt Service Funds
20152014
Assets
Cash and investments$95,755$19,658$115,413$115,458
Accrued interest receivable24483327309
Total assets$95,999 $19,741 $115,740 $115,767
Liabilities and Fund Balance
Liabilities$ - $ - $ - $ -
Fund balance:
Restricted95,99919,741115,740115,767
Total liabilities and fund balance$95,999 $19,741 $115,740 $115,767
CITY OF OAK PARK HEIGHTS, MINNESOTA
SUBCOMBINING STATEMENT OF REVENUES,Statement 20
EXPENDITURES AND CHANGES IN FUND BALANCE
NONMAJOR DEBT SERVICE FUNDS
For The Year Ended December 31, 2015
With Comparative Totals For The Year Ended December 31, 2014
526 G.O. Capital 527 G.O. Capital
ImprovementImprovement
Bonds of 2008Bonds of 2009
Total Nonmajor Debt Service Funds
20152014
Revenues:
Investment income$921$327$1,248$2,868
Expenditures:
Debt service:
Principal215,000120,000335,000315,000
Interest215,41720,858236,275245,578
Total expenditures430,417140,858571,275560,578
Revenues over (under) expenditures(429,496)(140,531)(570,027)(557,710)
Other financing sources (uses):
Transfers in430,000140,000570,000559,000
Net change in fund balance504(531)(27)1,290
Fund balance - January 195,49520,272115,767114,477
Fund balance - December 31$95,999 $19,741 $115,740 $115,767
CITY OF OAK PARK HEIGHTS, MINNESOTA
SUBCOMBINING BALANCE SHEET
NONMAJOR CAPITAL PROJECT FUNDS
December 31, 2015
With Comparative Totals For December 31, 2014
401 Budgeted 712 Storm
Projects and Sewer Renewal
Equipment405 Park 407 Moelter 572 City Hall / Replacement
RevolvingDevelopmentParkImprovementsFund
Assets
Cash and investments$2,418,921$660,155$393,846$92,610$440,287
Accounts Receivable - - - - -
Due from other governments - - 1,525 - -
Accrued interest receivable4,0761,309961189432
Total assets$2,422,997 $661,464 $396,332 $92,799 $440,719
Liabilities and Fund Balance
Liabilities:
Accounts payable$ - $ - $95$ - $ -
Unearned revenue - - - - -
Total liabilities0 0 95 0 0
Fund balance:
Restricted - 198,995345,511 - -
Assigned2,422,997462,46950,72692,799440,719
Total fund balance2,422,997 661,464 396,237 92,799 440,719
Total liabilities and fund balance $2,422,997 $661,464 $396,332 $92,799 $440,719
Statement 21
734 Water 771 Sanitary 773 AAE -
Tower735 Well 736 Sewer Sewer772 Water Storm Sewer
Totals Nonmajor Capital Project
RehabilitationRehabilitationRehabilitationConnectionConnectionConnection
Funds
20152014
$371,226$142,192$53,076$453,587$611,838$997,249$6,634,987$5,695,804
- - - - - - - 100
- - - - - - 1,525 -
6122631018419211,92611,63111,562
$371,838 $142,455 $53,177 $454,428 $612,759 $999,175 $6,648,143 $5,707,466
$ - $14,736$ - $ - $ - $ - $14,831$796
3,233 - - - - - 3,2333,079
3,233 14,736 0 0 0 0 18,064 3,875
- - - - - - 544,506664,792
368,605127,71953,177454,428612,759999,1756,085,5735,038,799
368,605 127,719 53,177 454,428 612,759 999,175 6,630,079 5,703,591
$371,838 $142,455 $53,177 $454,428 $612,759 $999,175 $6,648,143 $5,707,466
CITY OF OAK PARK HEIGHTS, MINNESOTA
SUBCOMBINING STATEMENT OF REVENUES,
EXPENDITURES AND CHANGES IN FUND BALANCE
NONMAJOR CAPITAL PROJECT FUNDS
For The Year Ended December 31, 2015
With Comparative Totals For The Year Ended December 31, 2014
401 Budgeted 712 Storm
Projects and Sewer Renewal
Equipment405 Park 407 Moelter 572 City Hall / Replacement
RevolvingDevelopmentParkImprovementsFund
Revenues:
Intergovernmental$ - $ - $ - $ - $ -
Charges for services:
Rents - - - - -
Connection charges - - - - -
Investment income13,8984,7913,777701973
Refunds and reimbursements5,950 - 1,525 - -
Total revenues19,8484,7915,302701973
Expenditures:
Current:
General government85,572 - - 5,814 -
Public works19,840 - - - -
Parks and recreation - 3,00019,072 - -
Capital outlay47,153 - 1,114 - -
Total expenditures152,5653,00020,1865,8140
Revenues over (under) expenditures(132,717)1,791(14,884)(5,113)973
Other financing sources (uses):
Transfers in593,842 - - - 263,800
Transfers out - - (97,100) - -
Total other financing sources (uses)593,8420(97,100)0263,800
Net change in fund balance461,1251,791(111,984)(5,113)264,773
Fund balance - January 11,961,872659,673508,22197,912175,946
Fund balance - December 31$2,422,997 $661,464 $396,237 $92,799 $440,719
Statement 22
734 Water 771 Sanitary 773 AAE -
Tower735 Well 736 Sewer Sewer772 Water Storm Sewer
Totals Nonmajor Capital Project
RehabilitationRehabilitationRehabilitationConnectionConnectionConnection
Funds
20152014
$ - $ - $ - $ - $ - $ - $ - $ -
36,944 - - - - - 36,94435,184
- - - 30,819160,17224,971215,962 -
2,0879493673,0022,9916,98040,516124,302
10,000 - - - - - 17,4751,400
49,03194936733,821163,16331,951310,897160,886
- - - - - - 91,38670,848
73 - - - - - 19,91314,656
- - - - - - 22,07213,106
- 14,736 - - - - 63,00346,151
7314,7360000196,374144,761
48,958(13,787)36733,821163,16331,951114,52316,125
40,4799,0061,938 - - - 909,065602,185
- - - - - - (97,100)(491,191)
40,4799,0061,938000811,965110,994
89,437(4,781)2,30533,821163,16331,951926,488127,119
279,168132,50050,872420,607449,596967,2245,703,5915,576,472
$368,605 $127,719 $53,177 $454,428 $612,759 $999,175 $6,630,079 $5,703,591
CITY OF OAK PARK HEIGHTS, MINNESOTA
SUBCOMBINING BALANCE SHEETStatement 23
AGENCY FUNDS
December 31, 2015
With Comparative Totals For December 31, 2014
902 Developer 903 Developer
Deposit FundEscrow FundTotals - Agency Funds
20152014
Assets
Cash and investments$128,893$146,000$274,893$247,944
Due from developers15,891 - 15,89110,210
Total assets$144,784 $146,000 $290,784 $258,154
Liabilities
Escrow deposits payable$ - $146,000$146,000$146,000
Accounts payable18,446 - 18,4469,422
Due to developers126,338 - 126,338102,732
Total liabilities$144,784 $146,000 $290,784 $258,154
CITY OF OAK PARK HEIGHTS, MINNESOTA
SUBCOMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIESStatement 24
AGENCY FUNDS
For The Year Ended December 31, 2015
BalanceBalance
January 1,December 31,
2015AdditionsDeletions2015
902 Developer Deposit Fund
Assets:
Cash and investments$101,944$129,925$102,976$128,893
Due from developers10,21015,89110,21015,891
Total assets$112,154$145,816$113,186$144,784
Liabilities:
Accounts payable$9,422$18,446$9,422$18,446
Due to developers102,732129,925106,319126,338
Total liabilities$112,154$148,371$115,741$144,784
903 Developer Escrow Fund
Assets:
s$146,000$ - $ - $146,000
Cash and investment
Liabilities:
Escrow deposits payable$146,000$ - $ - $146,000
Total Agency:
Assets:
Cash and investments$247,944$129,925$102,976$274,893
Due from developers10,21015,89110,21015,891
Total assets$258,154$145,816$113,186$290,784
Liabilities:
Escrow deposits payable$146,000$ - $ - $146,000
Accounts payable9,42218,4469,42218,446
Due to developers102,732129,925106,319126,338
Total liabilities$258,154$148,371$115,741$290,784
STATISTICAL SECTION (UNAUDITED)
CITY OF OAK PARK HEIGHTS, MINNESOTA
NET POSITION BY COMPONENT
Last Ten Fiscal Years
(Accrual Basis of Accounting)
2006200720082009
Governmental activities:
Net investment in capital assets$11,481,494$11,799,071$12,328,032$11,908,771
Restricted899,708614,170235,559867,103
Unrestricted10,290,01810,950,97811,705,19212,164,925
Total governmental activities net position$22,671,220$23,364,219$24,268,783$24,940,799
Business-type activities:
Net investment in capital assets$5,826,582$6,355,129$6,227,796$6,925,825
Unrestricted1,382,1631,355,5641,165,2051,156,208
Total business-type activities net position$7,208,745$7,710,693$7,393,001$8,082,033
Primary government:
Net investment in capital assets$17,308,076$18,154,200$18,555,828$18,834,596
Restricted899,708614,170235,559867,103
Unrestricted11,672,18112,306,54212,870,39713,321,133
Total primary government net position$29,879,965$31,074,912$31,661,784$33,022,832
Note: GASB 68 was implemented in 2015, net position was restated for 2014 to reflect the reporting of net pension
liability and pension related deferred outflows of resources. Net position for years prior to 2015 was not restated.
Table 1
201020112012201320142015
$11,519,528$11,381,436$11,172,202$11,849,446$11,756,453$14,030,120
1,234,8351,152,7891,007,208842,2101,355,9602,464,368
13,308,71213,958,68915,242,15715,826,32717,258,01913,890,903
$26,063,075$26,492,914$27,421,567$28,517,983$30,370,432$30,385,391
$6,752,968$6,964,787$6,746,344$6,604,514$6,774,330$8,069,044
1,166,8531,135,6791,279,8741,448,7881,746,0161,923,277
$7,919,821$8,100,466$8,026,218$8,053,302$8,520,346$9,992,321
$18,272,496$18,346,223$17,918,546$18,453,960$18,530,783$22,099,164
1,234,8351,152,7891,007,208842,2101,355,9602,464,368
14,475,56515,094,36816,522,03117,275,11519,004,03515,814,180
$33,982,896$34,593,380$35,447,785$36,571,285$38,890,778$40,377,712
CITY OF OAK PARK HEIGHTS, MINNESOTA
CHANGES IN NET POSITION
Last Ten Fiscal Years
(Accrual Basis of Accounting)
2006200720082009
Expenses
Governmental activities:
General government$987,597$1,046,676$1,477,836$1,356,038
Public safety1,226,0421,234,7691,347,1641,364,734
Public works755,989796,025796,532957,308
Parks and recreation152,899184,008224,426211,795
Interest on long-term debt43,96537,255138,399262,586
Total governmental activities expenses3,166,4923,298,7333,984,3574,152,461
Business-type activities:
Water398,766387,766405,965434,577
Sanitary sewer661,367606,458670,661680,468
Storm sewer65,14934,27759,11543,337
Sanitation147,565153,848 - -
Total business-type activities expenses1,272,8471,182,3491,135,7411,158,382
Total primary government expenses$4,439,339$4,481,082$5,120,098$5,310,843
Program revenues
Governmental activities:
Charges for services:
Licenses and permits$306,266$155,820$203,041$100,074
Inspections - City of Bayport - - - -
Administrative - Enterprise Fund64,46563,20062,04064,400
Direct charges to developers938,298244,895 - -
Connection charges780,14134,595 - 5,419
Park fees1,004,240 - - -
Refunds and reimbursements155,080105,832153,267112,856
Other activities116,793151,00284,905112,161
Operating grants and contributions74,105142,87990,54888,187
Capital grants and contributions165,39711,32410,091688,975
Total governmental activities program revenues3,604,785909,547603,8921,172,072
Business-type activities:
Charges for services:
Water502,407482,100475,658546,606
Sanitary sewer767,207679,821656,809651,022
Storm sewer74,17373,94274,25774,473
Sanitation97,26697,764494 -
Operating grants and contributions - - - -
Capital grants and contributions - - - -
Total business-type activities
program revenues1,441,0531,333,6271,207,2181,272,101
Total primary government program revenues$5,045,838$2,243,174$1,811,110$2,444,173
Table 2
Page 1 of 2
201020112012201320142015
$1,575,297$1,381,589$1,455,359$1,601,402$1,663,866$1,685,452
1,407,1611,411,6901,431,5941,497,7651,565,5441,564,058
980,630999,4731,128,2491,080,4371,020,664903,858
201,716239,100248,243269,929285,877315,390
280,548275,196377,713463,537463,217406,215
4,445,3524,307,0484,641,1584,913,0704,999,1684,874,973
466,218472,040470,266468,932477,771496,607
740,184746,656668,588695,817694,406749,937
108,46748,36043,90458,23946,39360,081
- - - - - -
1,314,8691,267,0561,182,7581,222,9881,218,5701,306,625
$5,760,221$5,574,104$5,823,916$6,136,058$6,217,738$6,181,598
$197,181$131,081$163,986$90,910$137,543$125,704
- - - - - -
66,42069,4253,8304,1804,2484,242
- - - - - 109,365
147,09818,824 - - - 215,962
241,440 - - - - -
117,735114,847125,243108,83890,109105,206
180,639107,860102,320390,340178,687139,148
145,04896,402112,91299,171101,443105,231
76,97015,94324,131341,9911,121,1741,209,432
1,172,531554,382532,4221,035,4301,633,2042,014,290
565,859648,663714,660720,590657,286781,537
749,378782,266800,281833,063927,129881,428
75,69866,74083,76288,06382,45282,881
- - - - - -
- 4,594 - - - 7,930
- - - 23,2341,248516
1,390,9351,502,2631,598,7031,664,9501,668,1151,754,292
$2,563,466$2,056,645$2,131,125$2,700,380$3,301,319$3,768,582
CITY OF OAK PARK HEIGHTS, MINNESOTA
CHANGES IN NET POSITION
Last Ten Fiscal Years
(Accrual Basis of Accounting)
2006200720082009
Net (expense) revenue:
Governmental activities$438,293($2,389,186)($3,380,465)($2,980,389)
Business-type activities168,206151,27871,477113,719
Total primary government net
(expense) revenue606,499(2,237,908)(3,308,988)(2,866,670)
General revenues and other changes in net position:
Governmental activities:
General property taxes and tax increment2,417,0142,730,9943,146,0493,537,829
Unrestricted grants and contributions29,838111,09056,693180,430
Investment earnings425,160532,827606,996456,934
Gain on sale of property244,0999,23720,89512,165
Miscellaneous16,25427,62622,14814,186
Transfers101,917(329,589)432,248(549,139)
Total governmental activities3,234,2823,082,1854,285,0293,652,405
Business-type activities:
Investment earnings49,03760,10343,08026,174
Loss on sale of capital assets - - - -
Transfers(101,917)329,589(432,248)549,139
Total business-type activities(52,880)389,692(389,168)575,313
Total primary government$3,181,402$3,471,877$3,895,861$4,227,718
Change in net position:
Governmental activities$3,672,575$692,999$904,564$672,016
Business-type activities115,326540,970(317,691)689,032
Total primary government$3,787,901$1,233,969$586,873$1,361,048
Note: GASB 68 was implemented in 2015. Pension expense for years prior to 2015 was not restated.
Table 2
Page 2 of 2
201020112012201320142015
($3,272,821)($3,752,666)($4,108,736)($3,877,640)($3,365,964)($2,860,683)
76,066235,207415,945441,962449,545447,667
(3,196,755)(3,517,459)(3,692,791)(3,435,678)(2,916,419)(2,413,016)
3,692,1273,934,3094,289,5664,541,1034,706,9745,289,030
104,9872,0402,0402,0402,04010,320
320,183239,763204,422(85,474)421,387154,098
- 8,9607,9501,95644,198 -
16,58817,71829,17226,52631,64422,655
261,212(20,285)504,239406,38012,170(1,012,761)
4,395,0974,182,5055,037,3894,892,5315,218,4134,463,342
22,93417,78014,046(7,026)29,66911,547
- - - (1,472) - -
(261,212)20,285(504,239)(406,380)(12,170)1,012,761
(238,278)38,065(490,193)(414,878)17,4991,024,308
$4,156,819$4,220,570$4,547,196$4,477,653$5,235,912$5,487,650
$1,122,276$429,839$928,653$1,014,891$1,852,449$1,602,659
(162,212)273,272(74,248)27,084467,0441,471,975
$960,064$703,111$854,405$1,041,975$2,319,493$3,074,634
CITY OF OAK PARK HEIGHTS, MINNESOTA
FUND BALANCES, GOVERNMENTAL FUNDS
Last Ten Fiscal Years
(Modified Accrual Basis of Accounting)
2006200720082009
General Fund:
Nonspendable$ - $ - $ - $ -
Restricted - - - -
Assigned for:
Employee benefits169,633183,000188,000188,000
Ensuing year's budget - - - 193,635
Unassigned:
Cash flow reserve1,409,0001,698,0001,541,0001,558,000
General contingency reserve493,000595,000542,000557,000
Remaining unassigned balance230,86939,620345,370223,377
Total general fund$2,302,502$2,515,620$2,616,370$2,720,012
All other governmental funds:
Restricted for:
Debt service$717,829$460,263$127,247$102,115
Park improvements - - - -
Law enforcement - - - -
Tax increment - - - -
Unspent bond proceeds - - - -
Assigned, reported in:
Special revenue funds86,326100,960102,181100,737
Debt service funds47,315 - - -
Capital projects funds8,022,5888,480,88414,977,67813,236,361
Unassigned - - - -
Total all other governmental funds$8,874,058$9,042,107$15,207,106$13,439,213
Table 3
201020112012201320142015
$ - $2,057$4,609$5,201$80,806$57,602
- - - - - 54,188
172,000179,000165,000173,000159,000165,000
100,000 - - - - -
1,593,0001,911,0002,060,0002,125,0002,293,0002,370,000
554,000698,000734,000777,000810,000847,000
554,797471,504706,024434,170560,0011,138,743
$2,973,797$3,261,561$3,669,633$3,514,371$3,902,807$4,632,533
$97,296$112,571$5,309,831$5,192,539$5,393,708$6,222,184
- 913,170870,864815,549664,792544,506
- 8,1556,9237,33013,3049,096
- - 4,60419,33149,86086,341
- - - - 1,118,479 -
88,47131,19831,62731,32432,01933,252
- - - - - -
11,188,96810,704,78211,645,00312,100,25812,434,63810,998,026
- - - - (377,266)(406,043)
$11,374,735$11,769,876$17,868,852$18,166,331$19,329,534$17,487,362
CITY OF OAK PARK HEIGHTS, MINNESOTA
CHANGES IN FUND BALANCES, GOVERNMENTAL FUNDS
Last Ten Fiscal Years
2006200720082009
Revenues:
General property taxes$2,423,246$2,687,730$3,156,807$3,470,670
Tax increment - - - -
Special assessments553,45042,34232,07843,810
Licenses and permits306,266155,820203,041100,074
Intergovernmental102,818188,594141,141276,772
Charges for services1,886,776192,545102,199107,392
Fines and forfeits84,73066,18963,60274,588
Investment income425,160532,827606,996456,934
Direct charges to developers938,298244,895 - -
Refunds and reimbursements155,080105,832134,987137,422
Donations and contributions136,51483,06427,672612,525
Total revenues7,012,338 4,299,838 4,468,523 5,280,187
Expenditures:
Current:
General government941,8751,002,7631,075,6161,117,822
Public safety1,180,4411,193,4511,292,4651,277,600
Public works423,010458,241632,530586,872
Parks and recreation107,071138,491146,928139,188
Capital outlay1,797,0171,327,754901,5644,957,653
Debt service:
Principal retirement190,000125,000750,000135,000
Interest and other44,53537,688134,850255,213
Bond issuance costs - - 111,02033,537
Total expenditures4,683,949 4,283,388 5,044,973 8,502,885
Revenues over (under) expenditures2,328,389 16,450 (576,450)(3,222,698)
Other financing sources (uses):
Sale of capital assets244,0999,23721,28912,200
Bonds issued - - 6,300,0001,195,000
Premium on bonds issued - - 5,827 -
Transfers in190,417432,2801,790,9261,144,241
Transfers out(88,500)(76,800)(1,275,843)(792,994)
Total other financing sources (uses)346,016 364,717 6,842,199 1,558,447
Net change in fund balance$2,674,405$381,167$6,265,749($1,664,251)
Debt service as a percentage of noncapital expenditures8.1%5.5%21.9%11.1%
Debt service as percentage of total expenditures 5.0%3.8%17.5%4.6%
Table 4
201020112012201320142015
$3,697,809$3,984,389$4,245,360$4,433,202$4,620,521$5,104,956
- - 26,583106,924125,120184,251
28,58322,95221,90620,731237,636381,071
197,181131,081163,98690,910137,543125,704
282,55197,442114,952102,211453,283165,950
561,411134,23749,441337,912120,050292,182
73,76160,82256,70956,60862,88567,170
320,183239,763204,422(85,474)421,387153,792
- - - - - 109,365
134,323132,565154,415135,364106,553594,254
2,18412,5004005002004,550
5,297,986 4,815,751 5,038,174 5,198,888 6,285,178 7,183,245
1,370,3811,178,7101,195,1211,378,8911,445,4801,519,783
1,312,3351,351,5671,394,5861,449,1031,535,3871,620,793
592,897605,955737,001805,776601,870482,846
125,414129,327132,497152,061162,892176,416
3,583,666767,988160,8561,103,3094,540,0434,111,439
250,000255,000275,000295,000315,000500,000
272,000266,675260,680362,436396,195426,133
- - 103,854 - 80,533 -
7,506,693 4,555,222 4,259,595 5,546,576 9,077,400 8,837,410
(2,208,707)260,529 778,579 (347,688)(2,792,222)(1,654,165)
42510,01024,4182,00044,400 -
- - 5,140,000 - 3,775,000 -
- - 155,137 - 111,689 -
397,589412,366408,9142,274,5404,081,6622,992,208
- - - (1,868,160)(3,668,890)(2,450,489)
398,014 422,376 5,728,469 408,380 4,343,861 541,719
($1,810,693)$682,905$6,507,048$60,692$1,551,639($1,112,446)
13.3%13.8%13.4%14.8%16.0%19.6%
7.0%11.5%12.6%11.9%7.8%10.5%
CITY OF OAK PARK HEIGHTS, MINNESOTA
TAX CAPACITY VALUE AND ESTIMATED MARKET VALUE OF TAXABLE PROPERTY
Last Ten Fiscal Years
Fiscal
YearCommercial/
EndedResidentialIndustrialPublicAll
December 31,PropertyPropertyUtilityOther
2006$3,269,468$2,687,650$1,415,909$112,921
20073,318,0523,331,9101,733,70388,073
20083,429,1043,679,1883,060,14482,329
20093,483,7263,952,5233,568,95793,832
20103,304,1103,869,5683,311,71687,480
20113,202,6133,676,9853,454,88092,822
20122,928,5143,567,1963,599,10491,665
20132,736,977 3,528,330 3,990,896 96,104
20142,834,815 3,424,868 3,904,920 96,659
20153,280,449 3,286,102 4,148,063 91,068
Source: Washington County Certificate as to Taxes and Taxable Property
Table 5
Adjusted
Less:Less:Tax Capacity
TotalFiscalTax AdjustedTotalEstimatedas a Percent
TaxDisparityIncrementTax CapacityDirect TaxMarketof Total Tax
CapacityContributionCapturedValueRateValueCapacity
$7,485,948$1,037,753$ - $6,448,19538.377$539,357,10086.1%
8,471,7381,115,215 - 7,356,52335.731579,089,80086.8%
10,250,7651,508,660 - 8,742,10536.343673,570,60085.3%
11,099,0382,177,678 - 8,921,36038.732718,753,40080.4%
10,572,8742,492,111 - 8,080,76343.845682,742,10076.4%
10,427,3002,117,456 - 8,309,84445.028674,199,10079.7%
10,186,4792,336,41126,9137,823,15551.710643,608,30076.8%
10,352,3072,346,765 108,254 7,897,28854.898641,169,000 76.3%
10,261,2622,467,230 126,677 7,667,35559.641640,880,100 74.7%
10,805,6822,214,196 185,870 8,405,61656.804689,680,000 77.8%
CITY OF OAK PARK HEIGHTS, MINNESOTA
DIRECT AND OVERLAPPING PROPERTY TAX CAPACITY RATES Table 6
Last Ten Fiscal Years
Overlapping Rates
City
FiscalDirectSchoolOther
YearRateCountyDistrictDistrictsTotal
200636.13626.96819.4055.74188.250
200735.73325.67319.0044.85685.266
200836.34325.93617.4044.88584.568
200938.73226.37117.7144.83287.649
201043.84527.77519.7345.10796.461
201145.02829.77220.3005.536100.636
201251.71031.93922.3346.250112.232
201354.89834.22522.0186.983118.123
201459.64132.81123.1506.538122.140
201556.80430.18621.1245.884113.997
Source: Washington County website.
CITY OF OAK PARK HEIGHTS, MINNESOTA
PRINCIPAL PROPERTY TAXPAYERS Table 7
Current Year and Nine Years Ago
20152006
Percentage Percentage
Taxableof Total CityTaxableof Total City
CapacityCapacityCapacityCapacity
TaxpayerValueRankValueValueRankValue
Xcel Energy$4,418,501140.89%$1,600,747123.14%
VSSA Boutwells Landing LLC552,74825.12%290,60864.20%
Wal-Mart Stores, Inc.294,78032.73% - - 0.00%
OPH Pat LLC & OPH Val LLC215,65842.00%199,50042.88%
Menard Inc.177,45051.64%185,998 52.69%
OP Stillwater LLC174,84661.51% - - 0.00%
Lowe's Home Centers, Inc.163,10271.62% - - 0.00%
SC Mall LLC159,25081.47%367,420 2 5.31%
W.A.T.E. Enterprises Inc.125,61091.16%108,22491.56%
Oakgreen Commons114,967101.06% - - 0.00%
Raduenz Dealership - - 0.00%83,328101.20%
Prudential Insuance Co of America - - 0.00%213,522 33.09%
Wal-Mart Real Estate Business - - 0.00%147,879 72.14%
VSSA McKean West LLC - - 0.00%220,682 83.19%
Total$6,396,91259.20%$3,417,90849.40%
Total All Property $10,805,682$6,918,930
Source: Washington County
CITY OF OAK PARK HEIGHTS, MINNESOTA
PROPERTY TAX LEVIES AND COLLECTIONS Table 8
Last Ten Fiscal Years
FiscalTaxesCollections
Collected Within The
YearLeviedinFiscal Year of the LevyTotal Collections to Date
EndedFor ThePercentageSubsequentPercentage
December 31,Fiscal Year Amountof LevyYearsAmountof Levy
(1)
2006$2,395,044$2,363,19298.67%$31,579$2,394,77199.99%
(1)
20072,781,4892,646,42195.14%(20,936)2,625,48594.39%
(1)
20083,286,2303,211,39297.72%(35,600)3,175,79296.64%
(1)
20093,574,8553,447,96596.45%73,3613,521,32698.50%
(1)
20103,662,4553,584,02797.86%(24,119)3,559,90897.20%
(1)
20113,870,7703,819,22098.67%(51,137)3,768,08397.35%
(2)
20124,229,9244,176,12598.73%(86,116)4,090,00996.69%
(2)
2013 4,549,431 97.99%(39,007)4,418,87997.13%4,457,886
(2)
20144,803,959 98.47%(11,637)4,718,70698.23%4,730,343
(2)
20155,044,879 99.70% - 5,029,81499.70%5,029,814
(1)
The levy amount presented is after deduction for Market Value Homestead Credit.
(2)
The levy amount presented includes excess TIF Tax.
Source: City Finance Department.
CITY OF OAK PARK HEIGHTS, MINNESOTA
RATIOS OF OUTSTANDING DEBT BY TYPE Table 9
Last Ten Fiscal Years
Governmental Activities
GeneralPercentage
FiscalObligationImprovementof TaxPer
YearBondsBondsTotalCapacityCapita
2006$ - $875,000$875,00011.69%188
2007 - 750,000750,0008.85%161
20086,300,000 - 6,300,00061.46%1,326
20097,360,000 - 7,360,00066.31%1,549
20107,110,000 - 7,110,00067.25%1,639
20116,855,000 - 6,855,00065.74%1,580
201211,720,000(1) - 11,720,000115.05%2,637
201311,425,000 - 11,425,000110.36%2,455
201414,885,000 - 14,885,000145.06%3,142
201514,385,000 - 14,385,000133.12%3,095
Notes: (1)Details regarding the City's outstanding debt can be found in the notes to the financial statements.
There is no business-type activity long-term debt. In 2012, the City issued the $5,140,000 Crossover
Refunding Bonds to refund $4,860,000 of the 2008 GO Improvement Bonds. The 2008 Bonds will
be called for prepayment in 2016.
CITY OF OAK PARK HEIGHTS, MINNESOTA
DIRECT AND OVERLAPPING GOVERNMENTAL ACTIVITIES DEBTTable 10
December 31, 2015
Estimated
EstimatedShare of
DebtPercentageOverlapping
Governmental UnitOutstandingApplicableDebt
Debt repaid with property taxes:
Independent School District No. 834$122,320,0009.81%$11,999,592
Washington County125,075,0003.38%4,227,535
Metro Transit184,210,0000.31%571,051
Metropolian Council12,470,0000.27%33,669
Subtotal - overlapping debt16,831,847
City direct debt100.00%8,185,000
Total direct and overlapping debt$25,016,847
Note: Overlapping governments are those that coincide, at least in part, with the geographic boundaries of the City.
This table estimates the portion of the outstanding debt of those overlapping governments that is borne by the
residents and businesses of the City. This process recognizes that, when considering the City's ability to issue and
repay long-term debt, the entire debt burden borne by the residents and businesses should be taken into account.
However, this does not imply that every taxpayer is a resident, and therefore responsible for repaying the debt, of each
overlapping government.
CITY OF OAK PARK HEIGHTS, MINNESOTA
LEGAL DEBT MARGIN INFORMATIONTable 11
Last Ten Fiscal Years
Legal Debt Margin Calculation for Fiscal Year 2015
Market value$712,227,600
Debt limit (3% of market value)21,366,828
Debt applicable to limit:
Debt Applicable to Limit5,915,000
Legal debt margin$15,451,828
Legal Debt Margin Calculation for Fiscal Years 2006 Through 2015
Net DebtLegalAmount of Debt
FiscalDebtApplicable toDebtApplicable to
YearLimitLimitMarginDebt Limit
2006$10,787,142$ - $10,787,1420.00%
200711,581,796 - 11,581,7960.00%
200820,207,1186,300,00013,907,11831.18%
200921,562,6026,165,00015,397,60228.59%
201020,482,2637,110,00013,372,26334.71%
201120,098,1616,855,00013,243,16134.11%
201219,308,249 6,860,000 12,448,24935.53%
201319,235,070 6,565,000 12,670,07034.13%
201419,991,982 6,250,000 13,741,98231.26%
201521,366,828 5,915,000 15,451,82827.68%
Note: In 2008, State Statutes increased the percentage used to calculate the debt limit from 2% to 3%.
CITY OF OAK PARK HEIGHTS, MINNESOTA
PLEDGED REVENUE COVERAGE Table 12
Last Ten Fiscal Years
Improvement Bonds
PropertySpecialProperty Tax
FiscalTaxAssessmentTransfer FromDebt Service
(1)(2)(3)
Collections
YearCollectionsGeneral FundPrincipalInterestCoverage
2006$ - $156,905$ - $190,000$44,5350.669
2007 - 35,180 - 125,00037,6880.216
2008 - 31,221 - 750,00010,8330.041
2009336,292 - - 135,000252,6130.868
2010392,805 -122,000250,000272,0000.986
2011400,902 -134,000255,000266,6751.025
2012 - -536,000275,000260,6801.001
2013 - -548,000295,000253,6050.999
2014 - 217,836 559,000315,000291,4371.281
2015 - 379,964 608,000500,000426,1341.067
Note: Details regarding the City's outstanding debt can be found in the notes to the financial statements.
(1,3)
Capital Improvement Bonds were issued during 2008 and 2009 to finance construction of City Hall. The debt service
payments, which began in 2009, are funded by property tax collections and transfers from the General Fund.
(2)
Debt service payments on Improvement Bonds of 1998 ended in 2008 when the bond was paid off. Special assessment
collections, as well as transfers from the connection charge funds, were used to make the debt service payments.
CITY OF OAK PARK HEIGHTS, MINNESOTA
DEMOGRAPHIC AND ECONOMIC STATISTICSTable 13
Last Ten Fiscal Years
Per
Capita
FiscalUnemploymentPersonalPersonal
(1)(1)
Income
YearPopulationRateIncome
20064,6763.5%
20074,7514.1%
20084,7085.4%
20094,6537.4%
20104,3396.3%
Information Not Available
20114,3395.2%
2012 4,4455.3%
2013 4,6544.6%
2014 4,7383.8%
2015 4,6483.1%
Sources: Metropolitan Council (population), Continuing Disclosure Document or County Records (unemployment rate)
(1)
Information Not Available
CITY OF OAK PARK HEIGHTS, MINNESOTA
PRINCIPAL EMPLOYERSTable 14
Current Year and Nine Years Ago
20152006
EmployerProduct ServiceEmployeesEmployees
Andersen CorporationWindow Manufacturer614600
VSSA - Boutwell's Landing/McKean SquareSenior Community Housing44795
State of Minnesota Correctional FacilityGovernment Correctional Institution366297
Wal-Mart Stores, Inc.Retail266225
ISD No. 834, StillwaterPublic education177220
Menard's Inc.Retail Lumber/Hardware135100
Lowe'sRetail118 -
Xcel EnergyElectric Utility104 -
Stillwater MotorsAuto Dealership/Service Repair101105
Kowalski'sRetail/Grocery90190
Kohl'sRetail - 155
Stillwater FordAuto Dealership/Service Repair - 129
Total2,4182,116
CITY OF OAK PARK HEIGHTS, MINNESOTA
FULL-TIME EQUIVALENT CITY GOVERNMENT EMPLOYEES BY FUNCTION/PROGRAM
Last Ten Fiscal Years
Full-Time Equivalent Employees as of December 31,
Function/Program200620072008
General government:
Administration222
Finance333
Building inspections222
Public safety101010
Public works444
Total212121
Source: City Finance Department
Table 15
Full-Time Equivalent Employees as of December 31,
2009201020112012201320142015
2222333
3333332
2221111
10101010111111
3344444
20202120222221
CITY OF OAK PARK HEIGHTS, MINNESOTA
OPERATING INDICATORS BY FUNCTION/PROGRAM
Last Ten Fiscal Years
Fiscal Year
Function/Program200620072008
Police:
Physical arrests240207224
Parking violations12492135
Traffic violations7386131,016
Fire:
Fire and related calls11910698
Medical calls302270292
Building inspection:
Permits issued:
Residential11194
Commercial1582
Total permit valuation$36,975,066$6,521,063$18,707,532
Water:
Connections1,2891,3041,315
Average daily demand (thousands of gallons)676,000681,452654,172
Sewer:
Connections1,2641,2741,283
Sources: Various City departments.
(1)
Connection for Irrigation accounts removed from the total
Table 16
Fiscal Year
2009201020112012201320142015
208176151151148169115
17017115599918688
9691,2408741,1261,0811,2831,270
9111083107170170172
293260306451546546596
- 1 - 2 - 15
2132111
$7,254,000$10,955,024$1,828,000$8,776,295$4,781,710$4,781,710$7,000,000
(1)(1)(1)
1,3181,3171,3211,2731,2741,2741,281
681,816576,085593,496667,835626,000608,216573,463
1,2851,2681,2781,2861,2801,2801,287
CITY OF OAK PARK HEIGHTS, MINNESOTA
CAPITAL ASSET STATISTICS BY FUNCTION/PROGRAM
Last Ten Fiscal Years
Fiscal Year
Function/Program2006200720082009
Police:
Stations1111
Squad cars6666
Fire stations
Other public works:
Miles of paved streets22.022.022.022.0
Streetlights392396396396
Traffic signals2222
Parks and recreation:
Parkland acreage105104108104
Number of parks4555
Water:
Water mains (miles)26.626.826.827.1
Fire hydrants316316316265
Storage capacity (thousands of gallons)750750750750
Wastewater:
Sanitary sewers (miles)23.324.924.924.9
Storm sewers (miles)12.512.612.612.6
Sources: Various City departments.
Table 17
Fiscal Year
201020112012201320142015
111111
666666
22.022.022.022.022.022.0
396396396396396396
222222
104104104104104104
555555
27.127.127.127.127.127.1
265265265265267270
750750750750750750
24.924.924.924.924.924.9
12.612.612.612.612.612.6