HomeMy WebLinkAboutAnnual Financial ReportCITY OF OAK PARK HEIGHTS, MINNESOTA
ANNUAL FINANCIAL REPORT
DECEMBER 31, 1983
CITY OF OAK PARK HEIGHTS, MINNESOTA
TABLE OF CONTENTS
Organization
Auditor's Report
Combined Financial Statements
Condensed Combined Balance Sheet - All Fund Types and
Account Groups
Condensed Combined Statement of Revenue, Expenditures and
Changes in Fund Balance - All Governmental Fund Types
Condensed Combined Statement of Revenue, Expenditures and Changes in
Fund Balance - Budget and Actual - General and Special
Revenue Fund Types
Condensed Combined Statement of Revenue, Expenses and Changes in
Retained Earnings - Proprietary Fund Type
Statement 1
Statement 2
Statement 3
Statement 4
Condensed Combined Statement of Changes in Financial Position -
Proprietary Fund Type Statement 5
Combining And Individual Fund And A ccount Group Financia Statements
General Fund:
Balance Sheet Statement 6
Statement of Revenue, Expenditures and Changes in
Fund Balance - Budget and Actual Statement 7
Special Revenue Fund:
Balance Sheet Statement 8
Statement of Revenue, Expenditures and Changes in
Fund Balance - Budget and Actual Statement 9
Debt Service Fund:
Balance Sheet Statement 10
Statement of Revenue, Expenditures and Changes in
F Statement 11
Fund Balance
Capital Project Funds:
Combining Balance Sheet Statement 12
Combining Statement of Revenue, Expenditures and
Changes in Fund Balance Statement 13
CITY OF OAK PARK HEIGHTS, MINNESOTA
TABLE OF CONTENTS
Special Assessment Funds:
Combining Balance Sheet Statement 14
Combining Statement of Revenue, Expenditures and Changes in
Fund Balance Statement 15
Enterprise Fund:
Balance Sheet Statement 16
Statement of Revenue, Expenses and Changes in
Retained Earnings Statement 17
Statement of Changes in Financial Position Statement 18
Trust and Agency Funds:
Combining Statement of Changes in Assets and Liabilities Statement 19
Statement of General Fixed Assets Statement 20
Statement of General Long Term Debt Statement 21
Notes to Financial Statements
Supplementary Financial Information
Combined Schedule of Indebtedness Exhibit 1
Debt Service Payments to Maturity:
Special Assessment Bonds Exhibit 2
Revenue /General Debt Bonds Exhibit 3
Construction Costs - By Project Exhibit 4
Securities for Deposit Exhibit 5
Insurance in Force Exhibit 6
Future Scheduled Tax Levies Exhibit 7
Taxable Valuations, Tax Levies and Mill Rates Exhibit 8
CITY OF OAK PARK HEIGHTS, MINNESOTA
ORGANIZATION
December 31, 1983
Mayor:
Frank Somnerfeldt
Council members:
Joseph Carufel
Jack Doerr
Richard Seggelke
Barbara O'Neal.
Clerk- Treasurer:
Term Expires
December 31, 1984
December 31, 1986
December 31, 1986
December 31, 1984
December 31, 1984
LaVonne Wilson Appointed
n..
CITY OF OAK PARK HEIGHTS, MINNESOTA
CONDENSED COMBINED BALANCE SHEET
ALL FUND TYPES AND ACCOUNT GROUPS
December 31, 1983
Assets
Governmen
Special
General Revenue
$508,736 $ 48,142
5,598
671 10,172
tal Fund Types
Debt Capital Special
Service Project Assessments
$ 1,591 $ 4,368 $1,102,612
3,954
1,346 11,472
11,295 7,190
Cash (overdraft) and investments
Accrued interest receivable
Accounts receivable
Due from other funds
Due from other governmental units
Due from developers
Prepaid expenses
Connection charges receivable
Taxes receivable:
Delinquent
Due from County
Allowances and deferrments
Special assessments receivable
Amount available and to be provided
Fixed assets - net
Total assets
8,376
13,810 1,812
(13,810) (1,812)
334,766
185,018
$515,005 $ 58,314 $ 1,591 $ 17,009 $1,653,388
Liabilities And Fund Equity
Liabilities:
Accounts payable
Salaries payable
Accrued interest
Due to other governmental units
Due to other funds
Refund payable
Deposits payable
Contracts payable
Compensated absences payable
Bonds payable
Total liabilities
Fund equity:
Investment in fixed assets
Contributions - net
Retained earnings:
Undesignated
Fund balance:
Reserved
Unreserved:
Designated
Undesignated
Total fund equity
Total liabilities and
fund equity
$ 29,577 $ 1,096 $ 8,558
2,145
6,049
23,727 1,346 4,846
2,821
3,626 4,500
1,300,000
61,498 $ -0- $ -0- 6,068 1,320,725
1,591 254,240
58,314 10,941 78,423
453,507
453,507 58,314 1,591 10,941 332,663
$515,005 $ 58,314 $ 1,591 $ 17,009 $1,653,388
CITY OF OAK PARK HEIGHTS, MINNESOTA
Statement 1
$ 2,577 $ 361
Fiduciary
Account
Group
2,145
1,348
Proprietary
Fund Type
3,863
General
Total (Memorandum Only
Fund Type
Trust and
General
Long -Term
December
31,
Enterprise
Agency
Fixed Assets
Debt
1983
1982
15,334
(Unaudited)
9,170
180,000
205,000 1,685,000
$ 222,576
$ (19,388)
215,806 1,840,475
1,894,297
$1,868,637
$1,855,571
1,178
18,327
19,505
13,586
63,910
73,462
44,615
17,500
30,318
6,079
8,817
38,145
22,259
2,629
2,629
6,430
5,543
5,543
5,075
8,376
30,109
15,622
16,175
59,799
(15,622)
(16,175)
334,766
288,071
$ 215,806
400,824
416,713
1,932,495
$576,019
2,508,514
2,537,806
$2,252,019
$ 1,568
$576,019
$ 215,806
$5 ,290,719
$5,286,113
$ 2,577 $ 361
$ 42,169
$ 28,476
2,145
1,348
3,675
3,675
3,863
349
6,398
5,945
399
30,318
6,079
1,207
4,028
7,089
47,810
47,810
46,993
8,126
15,334
$ 10,806 10,806
9,170
180,000
205,000 1,685,000
1,770,000
234,810 1,568 $ -0-
215,806 1,840,475
1,894,297
1,668,517
348,692
2,017,209 - 0-
576,019
576,019 -0-
576,019
1,668,517
348,692
255,831
147,678
453,507
3,450,244
553,619
1,710,351
280,153
131,577
402,088
314,028
3,391,816
$2,252,019 $ 1,568 $576,019 $ 215,806 $5,290,719 $5,286,113
The accompanying notes are an integral part of these financial statements.
CITY OF OAK PARK HEIGHTS, MINNESOTA
CONDENSED COMBINED STATEMENT OF REVENUE, EXPENDITURES AND
CHANGES IN FUND BALANCE
ALL GOVERNMENTAL FUND TYPES
For The Year Ended December 31, 1983
Expenditures:
Special
Current:
General
Revenue
Revenue:
126,023
5,745
General property taxes
$482,084
Intergovernmental revenue
149,391
$ 37,548
Licenses and permits
16,808
Fines and forfeits
7,730
Interest on investments
20,181
4,617
Charges for current services
33,221
Special assessments
284
Connection charges
Other revenue
4,641
Total revenue
714,340
42,165
Expenditures:
Current:
General government
126,023
5,745
Public safety
204,955
Streets and highways
62,900
Sanitation
63,814
Recreation
74,714
Capital outlay
3,158
10,635
Debt service:
Interest
Paying agent fees
Construction costs
Total expenditures
535,564
16,380
Revenue over (under) expenditures
178,776
25,785
Other increases (decreases):
Transfers from other funds 37,000
Transfers to other funds (63,268) (37,000)
Changes in amount to be provided
Bond proceeds
Total other increases (decreases) (26,268 (37,000
Net increase (decrease) in fund balance 152,508 (11,215)
Fund balance - January 1 300,999 69,529
Fund balance - December 31 $453,507 $ 58,314
CITY OF OAK PARK HEIGHTS, MINNESOTA
Statement 2
The accompanying notes are an integral part of these financial statements.
Totals (Memorandum Only)
Debt
Capital
Special
December
31,
Service
Project
Assessment
1983
1982
$ 60,931
$ 543,015
$ 468,985
7,019
193,958
169,244
16,808
12,058
7,730
5,560
$ 1,111
$ 9,231
98,279
133,419
159,048
11,295
44,516
39,361
223,503
223,787
20,809
10,453
10,453
1,950
4,641
3,802
1,111
20,526
400,185
1,178,327
880,817
131,768
134,061
204,955
189,877
62,900
48,442
63,814
58,362
74,714
74,355
13,793
29,813
20,252
76,835
97,087
67,935
50
607
657
439
235,669
266,120
501,789
125,902
20,302
235,669
343,562
1,151,477
729,186
(19,191
(215,143
56,623
26,850
151,631
22,500
40,768
100,268
56,075
(100,268)
(56,075)
(97,527)
(97,527)
(35,028)
80,000
80,000
364,866
-0-°
22,500
23,241
(17,527
329,838
(19,191)
(192,643)
79,864
9,323
481,469
20,78
203,584
252,799
847,693
366,224
$ 1,591
$ 10,941
$ 332,663
$ 857,016
$ 847,693
The accompanying notes are an integral part of these financial statements.
CITY OF OAK PARK HEIGHTS, MINNESOTA
CONDENSED COMBINED STATEMENT OF REVENUE, EXPENDITURES AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL -
GENERAL AND SPECIAL REVENUE FUND TYPES
For The Year Ended December 31, 1983
Fund balance - December 31 $453,507
General Fund
Over
(Under)
Budget
Actual
Budget
Revenue:
General property taxes
$481,782
$482,084
$ 302
Intergovernmental revenue
145,477
149,391
3,914
Licenses and permits
10,700
16,808
6,108
Fines and forfeits
2,600
7,730
5,130
Interest on investments
7,000
20,181
13,181
Charges for current services
30,500
33,221
2,721
Other revenue
1,950
4,925
2,975
Total revenue
680,009
714,340
34,331
Expenditures:
Current:
General government
142,145
126,023
(16,122)
Public safety
204,250
204,955
705
Streets and highways
60,070
62,900
2,830
Sanitation
59,500
63,814
4,314
Recreation
80,725
74,714
(6,011)
Contingency
37,000
-0-
(37,000)
Capital outlay
8,500
3,158
(5,342
Total expenditures
592,190
535,564
(56,626
Revenue over (under) expenditures
87,819
178,776
9
Other increases (decreases):
Transfer from other funds
37,000
37,000
Transfer to other funds
(62,500
(63,268
(768
Total other increases (decreases)
(25,500
(26,268
(768
Net increase (decrease) in fund balance
$ 62,319
152,508
$ 90,189
Fund balance - January 1
300,999
Fund balance - December 31 $453,507
CITY OF OAK PARK HEIGHTS, MINNESOTA
Special Revenue
Over
(Under)
Budget Actual Budget
$ 35,000 $ 37,548 $ 2,548
4,617 4,617
35,000 42,165 7,165
Statement 3
Totals (Memorandum Only)
1983
Budget
$481,782
180,477
10,700
2,600
7,000
30,500
1,950
Actual
$482,084
186,939
16,808
7,730
24,798
33,221
4,925
756,505
Over
5,745
(Under)
1982
Budget
Actual
$ 302
$423,843
6,462
165,075
6,108
12,058
5,130
5,560
17,798
20,878
2,721
39,361
2,975
3,052
715,009
3,000
5,745
2,745
145,145
131,768
58,362
(6,011)
74,355
204,250
204,955
(46,842)
29,813
60,070
62,900
59,500
63,814
80,725
74,714
37,000
-0-
52,135
10,635
(41,500
60,635
P 647,325
13,793
55,135
16,3
(38,755
551,944
(20,135
25,7
45,920
67,684
204,561
37,000
37,000
(37,000
(37,000
(99,500
(100,268
(37,000
(37,000
-0-
(62,500
(63,268
$ (57,135
(11,215)
$ 45,920
$ 5,184
141,293
69,529
370,528
$ 58,314
$511,821
41,496 669,827
(13,377) 134,061
705
176,417
2,830
48,442
4,314
58,362
(6,011)
74,355
(37,000)
13,460
(46,842)
29,813
(95,381) 534,910
136 ,877 134,917
30,000
(768 (56,075
(768 (26,075
$136,109 108,842
261,686
$370,528
The accompanying notes are an integral part of these financial statements.
CITY OF OAK PARK HEIGHTS, MINNESOTA
CONDENSED COMBINED STATEMENT OF REVENUE, EXPENSES AND
CHANGES IN RETAINED EARNINGS
PROPRIETARY FUND TYPE
For The Year Ended December 31, 1983
Statement 4
Totals
December 31,
1983 1982
Revenue:
Customer billings $153,108 $136,406
Penalties 1,16 1,888
Total operating revenue 154,275 138,294
Expenses:
Contractual services
26,112
21,093
Fixed charges
57,531
51,230
Materials and supplies
4,501
2,902
Administrative charges
30,000
30,000
Depreciation
51,693
49,262
Total operating expenses
169,837
154,487
Interest on contract for deed
Net income (loss)
(15,562
(16,19
Other income (expense
Interest on investments
19,420
24,476
Plumbing permits
352
112
Sewer availability charge fees
30
Refunds and reimbursements
1,641
1,005
Charges for services
15
2,343
Gain on sale of property
35,000
Interest on contract for deed
1,178
Interest
(15,262)
(16,013)
Paying agent fees
(78
(53
Total other income (loss)
42,266
11,900
Net income (loss)
26,704
(4,293)
Other increases (decreases):
Credit arising from transfer of depreciation
to contributions from property owners 41,835 41,835
Net increase in retained earnings 68,539 37,542
Retained earnings - January 1 280,153 242,611
Retained earnings - December 31 $348,692 $280,153
The accompanying notes are an integral part of these financial statements.
CITY OF OAK PARK HEIGHTS, MINNESOTA
Statement 5
CONDENSED COMBINED STATEMENT OF CHANGES IN FINANCIAL POSITION
PROPRIETARY FUND TYPE
For The Year Ended December 31, 1983
Sources of working capital:
Operations:
Net income (loss)
Expenses not requiring outlay of
working capital - depreciation
Total working capital provided from operations
Total sources working capital
Uses of working capital:
Purchase of fixed assets
Bond principal - current portion
Total lzses of working capital
Total net increase in working capital
Components of increase in working capital:
Cash and investments
Accounts receivable
Due from other governmental units
Due from other funds
Due from County
Accounts payable
Accrued interest
Due to other governmental units
Salaries payable
Due to other funds
Meter deposits
Due from M.W.C.C.
Contract payable
Net increase in working capital
Totals
3,353
December
31,
1983
1982
817
$ 26,704 $
(4,293)
51,693
49,261
78,397
44,968
15,262
78,397
44,968
221
(1,817)
(360)
24,578
1 0,000
10,00
(1
10,000
34,578
$ 68,397 $ 10,390
$ 21,396 $(12,625)
27,153
3,353
3,372
5,445
17,500
(608)
817
309
(1,219)
1,059
188
187
(172)
15,262
140
(399)
221
(1,817)
(360)
468
(883)
1,110
(1
$ 68,397 $ 10,390
The accompanying notes are an integral part of these financial statements.
CITY OF'OAK PARK HEIGHTS, MINNESOTA
GENERAL FUND
BALANCE SHEET
December 31, 1983
Statement 6
Liabilities And Fund Balance
Liabilities:
Accounts payable $ 29,577 $ 20,375
Salaries payable 2,145 1,348
Due to other governmental units 6,049 5,768
Due to other funds 23,727 3,252
Refund payable 4,853
Escrow deposit 1,000
Total liabilities 61,498 36,596
Fund balance:
Undesignated 453,507 300,999
Total fund balance 453,507 300,999
Total liabilities and fund balance $515,005 $337,595
The accompanying notes are an integral part of these financial statements.
December
31,
1983
1982
Assets
Cash and investments
$508,736
$274,965
Accounts receivable
10
Due from other governmental units
671
420
Due from developers
654
Accounts receivable ® certified
5,598
7,487
Taxes receivable:
Delinquent
13,810
14,414
Due from County
54,059
Allowances and deferments
(13,8
(14,414
Total assets
$515,0
$337,595
Liabilities And Fund Balance
Liabilities:
Accounts payable $ 29,577 $ 20,375
Salaries payable 2,145 1,348
Due to other governmental units 6,049 5,768
Due to other funds 23,727 3,252
Refund payable 4,853
Escrow deposit 1,000
Total liabilities 61,498 36,596
Fund balance:
Undesignated 453,507 300,999
Total fund balance 453,507 300,999
Total liabilities and fund balance $515,005 $337,595
The accompanying notes are an integral part of these financial statements.
CITY OF OAK PARK HEIGHTS, MINNESOTA
GENERAL FUND
STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN
FUND BALANCE - BUDGET AND ACTUAL
For The Year Ended December 31, 1983
Statement 7
Page 1 of 4
The accompanying notes are an integral part of these financial statements.
1983
Over
(Under)
1982
Budget
Actual
Budget
Actual
(Memorandum
Only)
Revenue:
Taxes:
Current and delinquent
$481,782
$481,923
$ 141
$422,321
Other
161
161
1,522
Total general property taxes
481,782
482,084
302
423,843
Intergovernmental revenue:
State:
Homestead credit
49,840
49,840
35,291
Local government aid
80,000
82,324
2,324
68,950
Machinery aid
500
460
(40)
394
Reduced assessment aid
5,637
5,637
3,951
Diseased tree removal aid
3,576
Police aid
9,500
10,720
1,220
10,263
Surcharge rebate
410
410
Total intergovernmental revenue
145,477
149,391
3,914
122,425
Licenses and permits
10,700
16,808
6,108
12,058
Charges for services:
Current
500
3,221
2,721
9,361
Administrative - Enterprise Fund
30,000
30,000
30,000
Total charges for services
30,500
33,221
2,721
39,361
Fines and forfeits
2,600
7,730
5,130
5,560
Interest on investments
7,000
20,181
13,181
13,333
Refunds and reimbursements
1,700
3,716
2,016
901
Sale of property
525
525
2,151
Donations
250
400
150
Special assessment
284
284
Total revenue
680,009
714,340
34,331
619,632
Expenditures:
General government:
Mayor and council:
Current:
Personal services
19,250
17,942
(1,308)
13,345
Materials and supplies
116
116
82
Contractual services
30,400
27,928
(2,472
34,099
Total mayor and council
$ 49,650
$ 45,986
$ (3,664
$ 47,526
The accompanying notes are an integral part of these financial statements.
CITY OF OAK PARK HEIGHTS, MINNESOTA
GENERAL FUND
STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN
FUND BALANCE - BUDGET AND ACTUAL
For The Year Ended December 31, 1983
Expenditures: (continued)
General government: (continued)
Elections:
Current:
Personal services
Materials and supplies
Total elections
City clerk:
Current:
Personal services
Materials and supplies
Contractual services
Total current
Capital outlay
Total city clerk
Planning and zoning:
Current:
Contractual services
City hall:
Current:
Materials and supplies
Contractual services
Total City hall
Engineering:
Current:
Contractual services
General management:
Current:
Materials and supplies
Contractual services
Total general management
Total general government
Public safety:
Police department:
Current:
Personal services
Materials and supplies
Contractual services
Total current
Capital outlay
Total police department
Statement 7
Page 2 of 4
166,850
11,775
15,250
193,875
500
$194,375
168,779
10,271
15,622
194,672
471
$195,143
1,929
(1,504)
372
797
(29
$ 768
143,806
10,192
13,310
167,308
190
$167,498
The accompanying notes are an integral part of these financial statements.
1983
Over
(Under)
1982
_Budget
Actual
Budget
Actual
(Memorandum
Only)
$ 1,214
182
$ -0-
$ -0-
$ -0-
1,396
53,920
54,978
1,058
48,873
1,025
989
(36)
1,209
2,870
2,812
(58
2,331
57,815
58,779
964
52,413
500
470
(30
1,
58,315
59,249
934
53,8
3,680
2,063
(1,617
4,959
3,200
2,013
(1,187)
1,992
11,000
7,783
(3,217
7,781
14,200
9,796
(4,404
9,773
2,000
962
(1,038
2,763
500
903
403
477
14,300
7,534
(6,766
11,935
14,800
8,437
(6,363
12,412
142,6
126,493
(16,152
132,667
166,850
11,775
15,250
193,875
500
$194,375
168,779
10,271
15,622
194,672
471
$195,143
1,929
(1,504)
372
797
(29
$ 768
143,806
10,192
13,310
167,308
190
$167,498
The accompanying notes are an integral part of these financial statements.
CITY OF OAK PARK HEIGHTS, MINNESOTA
Statement 7
Page 3 of 4
GENERAL FUND
STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN
FUND BALANCE - BUDGET AND ACTUAL
For The Year Ended December 31, 1983
1983
Expenditures: (continued)
Public safety: (continued)
Fire protection:
Current:
Contractual services
Animal control:
Current:
Materials and supplies
Contractual services
Total animal control
Total public safety
Streets and highways:
Streets and alleys:
Current:
Materials and supplies
Contractual services
Total streets and alleys
Snow and ice removal:
Current:
Materials and supplies
Contractual services
Total snow and ice removal
Street lighting:
Current:
Contractual services
Arboreous:
Current:
Contractual services
Total streets and highways
Sanitation:
Refuse collection and disposal:
Current:
Contractual services
Tree removal and planting:
Current:
Materials and supplies
Contractual services
Total tree removal and planting
Total sanitation
Budget Actual
-
$ 9,775 $ 9,775
Over
(Under) 1982
Budget Actual
(Memorandum
Only)
$ 8,748
100
48 $
(52)
46
500
460
(40
315
600
508
(92
361
204,750
205,426
676
176,607
1,150
723
(427)
732
10,000
7,802
(2,198
5,378
11,150
8,525
(2,625
6,110
130
22,320
27,468
5,148
17,709
22,320
27,468
5,148
17,839
25,500
26,583
1,083
23,676
1,100
324
(776
817
60,070
62,900
2,830
48,442
47,500 54,360 6,860 4
78 78 51
12,000 9,376 (2,624 11,761
12,000 9,454 (2,546 11,812
$ 59,500 $ 63,814 $ 4,314 $ 5 8,362
The accompanying notes are an integral part of these financial statements.
CITY OF OAK PARK HEIGHTS, MINNESOTA
GENERAL FUND
STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN
FUND BALANCE - BUDGET AND ACTUAL
For The Year Ended December 31, 1983
Expenditures: (continued)
Recreation:
Parks, playgrounds and rinks:
Current:
Personal services
Materials and supplies
Contractual services
Total current
Capital outlay
Total parks, playgrounds
and rinks
Total recreation
Contingency:
Current:
Personal services
Contractual services
Total contingency
Total expenditures
Revenue over (under) expenditures
Other increases (decreases):
Transfer from Revenue Sharing Fund
Transfer to Capital Project Fund
Transfer to Special Assessment Fund
Total other increases (decreases)
Net increase (decrease) in fund balance
Fund balance m January 1
Fund balance m December 31
Statement 7
Page 4 of 4
The accompanying notes are an integral part of these financial statements.
1983
Over
(Under)
1982
Budget
Actual
Budget
Actual
(Memorandum
only)
$ 70,325
$ 64,973
$ (5,352)
$ 65,588
3,900
2,473
(1,427)
3,307
6,500
7,268
768
5,460
80,725
74,714
(6,011
74,355
7,500
2,217
(5,283
1,604
88,225
76,931
(11,294
75,959
88,225
76,931
(11,294
75,9
30,000
(30,000)
13,460
7,000
(7,000
37,000
-0-
(37,000
13,460
592,190
535,564
(56,626
505,497
87,81
178,776
90,957
114,135
37,000
37,000
30,000
(22,500)
(22,500)
(26,075)
(40,000
(40,768
(768
(25,500
(26,268
(768
3,925
$ 62,319
152,508
$ 90,189
118,060
300,999
182,939
$453,507
$300,999
The accompanying notes are an integral part of these financial statements.
CITY OF OAK PARK HEIGHTS, MINNESOTA
SPECIAL REVENUE FUND - FEDERAL REVENUE SHARING
BALANCE SHEET
December 31, 1983
Statement 8
December 31,
1983 1982
Assets
Cash and investments $ 48,142 $ 60,326
Due from other governmental units 10,172 9,203
Total assets $ 58,314 $ 69,529
Fund Balance
Fund balance:
Designated for ensuing years budget $ 58,314 $ 56,500
Undesignated 13,029
Total fund balance 58,314 69,529
Total liabilities and fund balance $ 58,314 $ 69,529
The accompanying notes are an integral part of these financial statements.
CITY OF OAK PARK HEIGHTS, MINNESOTA
SPECIAL REVENUE FUND - FEDERAL REVENUE SHARING
STATEMENT OF REVENUE, EXPENDITURES AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
For The Year Ended December 31, 1983
Revenue:
Intergovernmental:
Federal grants
Interest on investments
Total revenue
Expenditures:
Current expense
Capital outlay
Total expenditures
Revenue over (under) expenditures
Other (decreases):
Transfer to General Fund
Net increase (decrease) in fund balance
Fund balance -- January 1
Fund balance - December 31
Statement 9
69,529
$ 58,314
78,747
$ 69,529
The accompanying notes are an integral part of these financial statements.
1983
Over
(Under)
1982
Budget
Actual
Budget
Actual
(Memorandum
Only)
$ 35,000
$ 37,548
$ 2,548
$ 42,650
4,617
4,617
7
35,000
42,165
7,165
50,195
3,000
5,745
2,745
2,819
5
_ 1
( 41,500 )
0 (38,755 )
_2_6
55,135
16,380
29,4
(20,135
25,
45,920
20, 782
(37,000
(37,
(30,000
$ (57,135
(11,215)
$ 45,920
(9,218)
69,529
$ 58,314
78,747
$ 69,529
The accompanying notes are an integral part of these financial statements.
CITY OF OAK PARK HEIGHTS, MINNESOTA
DEBT SERVICE FUND
STORM SEWER BONDS OF 1982
BALANCE SHEET
December 31, 1983
Assets
Cash and investments
Total assets
Liabilities and Fund Balance
Liabilities
Total liabilities
Fund balance:
Reserved for debt service
Total liabilities and fund balance
Statement 10
December 31,
1983 1982
$ 1,591 $ 20,782
$ 1,591 $ 20,782
$ _0_ $ _0_
1,591 20,782
$ 1,591 $ 20,782
The accompanying notes are an integral part of these financial statements.
CITY OF' OAK PARK HEIGHTS, MINNESOTA
Statement 11
DEBT SERVICE FUND
STORM SEWER BONDS OF 1982
STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE
For The Year Ended December 31, 1983
December 31,
1983 1982
Revenue:
Interest on investments $ 1,111 $ 101
Total revenue 1,111 101
Expenditures:
Paying agent fees 50
Interest 20,252
Total expenditures 2 -0-
Revenue over (under) expenditures (19,191) 101
Other increases:
Bond proceeds -0- 20,681
Net increase (decrease) in fund balance (19,191) 20,782
Fund balance °- January 1 20,7 -0--
Fund balance -- December 31 $ 1 $ 20,782
The accompanying notes are an integral part of these financial statements.
CITY OF OAK PARK HEIGHTS, MINNESOTA
CAPITAL PROJECT FUNDS
COMBINING BALANCE SHEET
December 31, 1983
Assets
Cash (overdraft) and investments
Due from other funds
Due from other governmental units
Total assets
Liabilities And Fund Balance
Liabilities:
Accounts payable
Contract payable
Due to other funds
Total liabilities
Fund balance (deficit):
Designated for committed contracts
Designated for capital improvements
(deficit)
Total fund balance
Total liabilities and
fund balance
Storm Sewer
Capital Drainage
Improvements Improvement
$ 38,555
1,346
$ 39,901
$(34,187)
11,295
$(22,892
Statement 12
Totals
December 31,
1983 1982
(Memorandum
Only)
$ 4,368 $217,212
1,346
11,295
$ 17,009 $217,212
$ 362 $ 734 $ 1,096 $ 2,710
3,626 3,626 10,918
1,346 1,346
362 5,706 6,068 13,628
4,430 4,430 160,493
_ 35,109 (28,598 6,511 43,091
39,539 (28,598 10,941 203,584
$ 39 ,901 $(22,892 $ 17,009 $217,212
The accompanying notes are an integral part of these financial statements.
CITY OF OAK PARK HEIGHTS, MINNESOTA
CAPI'T'AL PROJECT FUNDS
COMBINING STATEMENT OF REVENUE, EXPENDITURES AND
CHANGES IN FUND BALANCE
December 31, 1983
Storm Sewer
Capital Drainage
Improvements Im provement
Revenue:
Interest on investments
Donation
Reimbursement of construction costs
Total revenue
$ 4,374
4,374
$ 4,857
11,295
16,152
Expenditures:
Construction costs
Total expenditures
Revenue over (under) expenditures
Other increases:
Transfer from General Fund
Bond proceeds
Total other increases
Net increase (decrease) in fund balance
Fund balance -- January 1
Fund balance (deficit) - December 31
_ 30,213
30,213
(25,839)
22,500
22,500
(3,339)
42,878
$ 39,539
Statement 13
Totals
December 31,
1983 1982
(Memorandum
only)
$ 9,231 $ 5,329
750
11,295
20,526 6,079
205,456
235,669
31,816
205,456
235,669
31,816
(189,304
(215,143
(25,737
22,500
26,075
181,482
-0-
22,500
207,557
(189,304)
(192,643)
181,820
160,706
203,584
21,764
$(28,598
$ 10,941
$203,584
The accompanying notes are an integral part of these financial statements.
CITY OF OAK PARK HEIGHTS, MINNESOTA
SPECIAL ASSESSMENT FUNDS
COMBINING BALANCE SHEET
December 31, 1983
Assets
Cash (overdraft) and investments
Due from other funds
Due from other government units
Due from developers
Connection charges receivable
Accounts receivable
Taxes receivable:
Delinquent
Due fro;, County
Allowances and deferments
Special assessments:
Delinquent
Deferred
Due from County
Amount to be provided
Total assets
Liabilities And Fund Balance
Liabilities:
Accounts payable
Due to other funds
Refund payable
Contracts payable
Bonds payable
Total liabilities
Fund balance:
Reserved for:
Debt service
Designated for:
Committed contracts
Construction
Total fund balance
Total liabilities and fund balance
G.O. Bonds
Of 1967
And 1968
$856,283
3,803
8,376
236
(236)
2,088
91,297
72
$961,919
Debt Service
G . 0.
Storm Sewer
Improvement
Bonds
Of 1971
$ 29,904
133
452
(452)
2,208
47,755
$ 80,000
$ 23
855,000
855,023
$ 80,000
80,000
$249,000
G.O. Bonds
Of 1976
$ 84,487
106,896
114
(114)
1,392
8,594
106,896
$961,919
-0--
$ 80,000
$ 94,
$ 508
60,000
60,50
33,965
33 ,965
$ 94,473
CITY OF OAK PARK HEIGHTS, MINNESOTA
$ 4,251
Statement 14
Page 1 of 2
2,809
$300,000
$165,000
2,809
$100,000
G.O. Bonds
Improvement
$80,000
1,300,000
G.O. Bonds
Of 1978
Bonds
G.O. Bonds
Total Debt
Of 1977
And 1979
Of 1982
Of 1983
Service
$ 57,038
$ 78,337
$ 10,623
$ 9,514
$1,126,186
5,096
994
$165,000
$ 80_,000
10,026
8,376
712
248
50
1,812
(712)
(248)
(50)
(1,812)
393
2,097
5,970
8,084
25,471
87,600
223,254
2,929
3,001
66,777
70,486
185,018
$ 73,54
$106,8
$165,000
$ 80,000
$1,561,831
$ 4,251
$ 4,782
2,809
2,809
$ 60,000
$165,000
$ 80,000
1,300,000
7,060
60,000
165,000
80,000
1,307,591
66,480
46,899
254,240
66,480
46,899
-0-
-0-
254,240
$ 73,540
$106,899
$165,000
$ 80_,000
$1,561,831
The accompanying notes are an integral part of these financial statements.
CITY OF OAK PARK HEIGHTS, MINNESOTA
SPECIAL ASSESSMENT FUNDS
COMBINING BALANCE SHEET
December 31, 1983
Liabilities And Fund Balance
Liabilities:
Accounts payable
Construction
$ 4,004
Due to other funds
Interim
Completed
Prison
Refund payable
Construction
Construction
Utilities
Assets
Cash (overdraft) and investments
$ (4,190)
$ 50,075
$(11,042)
Due from other funds
$ -0-
1,209
4,004
Due from other government units
7,190
Due from developers
Connection charges receivable
Accounts receivable
Taxes receivables
Delinquent
(4,190
90,252
(7,856
Due from County
(4,190
90,252
(7,856
Allowances and deferments
$ (4, 190)
$ 90,316
$(3,8
Special assessments:
Delinquent
152
Deferred
38,880
Due from County
Amount to be provided
Total assets
$ (4,19
$ 90,316
$( 3,852 )
Liabilities And Fund Balance
Liabilities:
Accounts payable
$ 4,004
Due to other funds
$ 64
Refund payable
Contracts payable
Bonds payable
_
Total liabilities
$ -0-
64
4,004
Fund balance (deficit):
Reserved for:
Debt service
Designated for:
Committed contracts
Construction
(4,190
90,252
(7,856
Total fund balance (deficit)
(4,190
90,252
(7,856
Total liabilities and fund balance
$ (4, 190)
$ 90,316
$(3,8
CITY OF OAK PARK HEIGHTS, MINNESOTA
Statement 14
Page 2 of 2
2,073
34,973
165
$ 7,109
$ 12
12
7,097
7,097
$ 7,109
Totals
necember 31.
1982
$ 1,102,612
$ 1,094,376
1979
Sewer And
1983
Total
Utilities
Water
Improvements
Construction
$(30,339)
$ (55,901)
$ 27,823
$(23,574)
237
5,740
(1,812)
1,446
8,195
27,275
323
7,190
3,166
3,954
185,018
3,954
2,073
34,973
165
$ 7,109
$ 12
12
7,097
7,097
$ 7,109
Totals
necember 31.
$ 1,653,388 $ 1,638,921
$ 8,558 $ 3,794
4,846 2,827
2,821 1,195
4,500 3,306
1,300,000 1,375,000
1,320,725 1,386,122
254,240
Only)
$ 1,102,612
$ 1,094,376
11,472
6,079
7,190
7,191
4,812
8,376
30,109
3,954
1,812
1,761
5,740
(1,812)
(1,761)
8,195
27,275
323
259,294
3,166
1,502
185,018
202,543
$ 1,653,388 $ 1,638,921
$ 8,558 $ 3,794
4,846 2,827
2,821 1,195
4,500 3,306
1,300,000 1,375,000
1,320,725 1,386,122
254,240
139,393
19,292
157,772
59,131
(44,366
332,663
252,799
$ 1,653,388 $ 1,638,921
The accompanying notes are an integral part of these financial statements.
26,298
$ (25,649
$ 820
2,500
3,320
(28,969
(28,969
$ (25,649
$ 27,8
$ 3,734
2,000
5,734
19,292
2,797
22,089
$ 27,823
2,225
100,151
165
$ 91,557
$ 8,558
64
12
4,500
13,134
19,292
59,131
78,423
$ 91,557
CITY OF OAK PARK HEIGHTS, MINNESOTA
SPECIAL ASSESSMENT FUNDS
COMBINING STATEMENT OF REVENUE, EXPENDITURES AND
CHANGES IN FUND BALANCE
For The Year Ended December 31, 1983
Revenue:
General property taxes:
Current and delinquent
Intergovernmental revenue:
State:
Homestead credit
Reduced assessment aid
Total intergovernmental revenue
Special assessments:
Interest on assessments
Direct charges
Adjustments and other
New rolls
Total special assessments
Interest on investments
Connection charges
Total revenue
G.O. Bonds
Of 1967
$ 291
6,633
(145)
6,48
72,993
10,453
90,225
Debt Service
G .O.
Storm Sewer
Improvement
Bonds
Of 19
$249,000
G.O. Bonds
$ 138
Expenditures:
Debt service:
Interest
Paying agent fees
Total debt service
Construction costs
Total expenditures
Revenue over (under) expenditures
Other increases (decreases):
(Decrease) in amount to be provided
Transfer from General Fund
Bond proceeds
Total other increases (decreases)
Net increase (decrease) in fund balance
Fund balance - January 1
Fund balance - December 31
43,385
103
43,488
43,488
46,737
-0-
46,737
60,159
$106,896
$ 10,893
1,112
126
1,238
245
24 5_
2,110
14,486
4,730
50
4,780
4,780
9,706
(9,706)
(9,706
-0-
-0-
$ -0-
954
(336)
618
7,697
8,453
3,950
3,9 50
4,503
-0-
4,503
29,462
$ 33,965
CITY OF OAK PARK HEIGHTS, MINNESOTA
Statement 15
Page 1 of 2
900
$300,000
$165,000
76,835
$100,000
G.O. Bonds
Improvement
$80,000
607
G.O. Bonds
Of 1978
Bonds
G.O. Bonds
Total Debt
Of 1977
And 1979
Of 1982
Of 1983
Service
$ 36,257
$ 8,921
$ 4,431
64
$ 60,931
3,801
926
466
(9,514)
6,305
430
105
53
9,450
714
4,231
1,031
519
(64
7,019
7,310
4,184
-0-
-0-
19,326
26
31,234
-0-
-0-
(455)
$ 66,
_
90,400
$ -0-
90,400
7,336
4,184
90,400
109,271
1,099
7,972
757
$ 64
92,692
_
10,453
48,923
22,108
96,
64
280,366
900
6,200
17,750
76,835
81
243
50
607
981
6,443
17,800
-0-
77,442
9 81
6,443
17,800
-0-
77,442
47,942
15,665
78,307
64
202,924
(78,307)
(9,514)
(97,527)
_
9,450
_ 9,450
-0-
-0-
(78,307
(64
(88,077
47,942
15,665
-0-
-0-
114,847
18,538
31,234
-0-
-0-
139,393
$ 66,
$ 46,89
$ -0-
$ -0-
$254,240
The accompanying notes are an integral part of these financial statements.
CITY OF OAK PARK HEIGHTS, MINNESOTA
SPECIAL ASSESSMENT FUNDS
COMBINING STATEMENT OF REVENUE, EXPENDITURES AND
CHANGES IN FUND BALANCE
For The Year Ended December 31, 1983
Construction Funds
Expenditures:
Debt service:
Interest
Paying agent fees
Total debt service
Construction costs 4,95 5,880 8,253
Total expenditures 4,958 5,880 8,253
Revenue over (under) expenditures (4,958) 1,042 (8,253
Other increases (decreases):
(Decrease) in amount to be provided
Transfer from General Fund 768 12,000
Bond proceeds
Total other increases (decreases) 768 -0- 12,000
Net increase (decrease) in fund balance (4 1,042 3,747
Fund
Interim Completed Prison
(deficit)
Construction Construction Utilities
Revenue:
89,210
General property taxes:
Fund
Current and delinquent
(deficit)
Intergovernmental revenue:
$ (4,190
State:
$ (7,856
Homestead credit
Reduced assessment aid
Total intergovernmental revenue
Special assessments:
Interest on assessments
$ 3,708
Direct charges
183
Adjustments and other
New rolls
Total special assessments
3,891
Interest on investments
3,031
Connection charges
_ M
Total revenue
$ -0- 6,922 $ -0-
Expenditures:
Debt service:
Interest
Paying agent fees
Total debt service
Construction costs 4,95 5,880 8,253
Total expenditures 4,958 5,880 8,253
Revenue over (under) expenditures (4,958) 1,042 (8,253
Other increases (decreases):
(Decrease) in amount to be provided
Transfer from General Fund 768 12,000
Bond proceeds
Total other increases (decreases) 768 -0- 12,000
Net increase (decrease) in fund balance (4 1,042 3,747
Fund
balance
(deficit)
- January 1
-0-
89,210
(11,603
Fund
balance
(deficit)
- December 31
$ (4,190
$ 90,252
$ (7,856
CITY OF OAK PARK HEIGHTS, MINNESOTA
Statement 15
Page 2 of 2
1982 Totals
1979 Sewer And 1983 Total December 31,
Utilities Water Improvements Construction 1983 1982
The accompanying notes are an integral part of these financial statements.
$ 60,931 $
45,142
6,305
3,749
714
420
7,019
4,169
$ 3,352
$ 7,060
26,386
20,378
$ 80,633
80,816
80,816
2,042
58
58
(397)
(1,611)
26,298
26,298
116,698
3,410
106,931
114,232
223,503
20,809
2,368
$ 188
5,587
98,279
132,740
10,453
1,950
3,4
109,299
188
119,819
400,18
204,810
76,835
67,935
607
439
77,442
68,374
600
197,780
48,649
266,120
266,120
94,086
600
197,780
48,649
266,120
343,562
162,460
2 ,810
(88,481
(48 ,461)
(146,301
56,6
42,350
(97,527)
(35,028)
28,000
40,768
40,768
70,550
70,550
80,000
162,703
28,000
-0- _
70,550
111,318
23,241
127,675
30,810
(88,481)
22,089
(34,983)
79,864
170,025
(23,713
59,512
-0-
1 113,406
252,799
82,774
$ 7,097
$(28,969
$ 22,089
$ 78,423
$ 332,663 $
252,799
The accompanying notes are an integral part of these financial statements.
CITY OF OAK PARK HEIGHTS, MINNESOTA
ENTERPRISE FUND
BALANCE SHEET
December 31, 1983
Assets
Statement 16
December 31,
1983 1982
Current assets:
$ 1,358
399
Cash and investments
$ 222,576
$ 201,180
Accrued interest receivable
1,178
3,675
Due from other funds
17,500
45,993
Accounts receivable:
10,000
64,810
Customers
43,827
35,688
Certified to County
2,247
1,430
Other
17,836
Prepaid M.W.C.C.
5,543
5,075
Due from other government units
8,817
5,445
Total current assets
319,524
248,818
Utility plant in service - at cost:
Buildings and structures
504,040
504,040
Machinery and equipment
60,464
60,464
Distribution and collection system
1,836,934
1,836,934
Total
2,401,438
2,401,438
Less: Allowance for depreciation
(468,943
(417,251
Net fixed assets
1,932,495
1 ,984,187
Total assets
$2,252,019
$2,233,0
Liabilities And Fund Equity
Current Liabilities:
Accounts payable
Due to other funds
Due to other governmental units
Contract payable
Accrued interest
Meter deposits
Bonds payable
Total current liabilities
Non - current liabilities:
Bonds payable
Total liabilities
Fund equity:
Contributions from property owners - net
Retained earnings:
Undesignated
Total fund equity
Total liabilities and fund equity
$ 2,577
$ 1,358
399
349
177
1,110
3,675
3,863
47,810
45,993
10,000
10,000
64,810
62,501
170,000
180,000
234,810
242,501
1,668,517 1,710,351
348,692 280,153
2,017,209 1,990,504
$2,252,019 $2,233,005
The accompanying notes are an integral part of these financial statements.
CITY OF OAK PARK HEIGHTS, MINNESO`T'A
ENTERPRISE FUND
STATEMENT OF REVENUE, EXPENSES AND
CHANGES IN RETAINED EARNINGS
For The Year Ended December 31, 1983
Revenue:
Customer billings
Penalties
Total operating revenue
Expenses:
Contractual services
Fixed charges
Materials and supplies
Administrative and personnel charge
Depreciation:
On purchased assets
On contributed assets
Total operating expenses
Operating income (Loss)
Other income (expenses):
Interest on investments
Plumbing permits
Sewer availability charge fees
Refunds and reimbursements
Charges for services
Bond interest
Paying agent fees
Gain on sale of property
Interest on contract for deed
Total other income
Net income (loss)
Other increases (decreases):
Credit arising from transfer of
depreciation to contributions from
property owners
Net increase in retained earnings
Water Sewer
Operating Operating
$ 66,140 $ 86,968
576 591
66,716 87,55
Statement 17
Totals
December 31,
1983 1982
$153,108 $136,406
1,167 1,888
154,275 138,294
19,618 6,494
26,112
21,093
57,531
57,531
51,230
3,899 602
4,501
2,902
15,000 15,000
30,000
30,000
7,669
2,189
21,070
20,765
67,256
102,581
$ (540
$(15 ,022)
9,858
7,427
41,835
4
169,83
154,487
(15,562)
(16,193
19,420
24,476
352
112
30
1,641
1,005
15
2,343
(15,262)
(16,013)
(78)
(53)
35,000
1,178
42,26
11,90
26,704
(4,293)
41,835 41,835
68,539 37,542
Retained earnings - January 1 280,153 242,611
Retained earnings - December 31 $348,692 $280,153
The accompanying notes are an integral part of these financial statements.
CITY OF OAK PARK HEIGHTS, MINNESOTA
ENTERPRISE FUND
STATEMENT OF CHANGES IN FINANCIAL POSITION
For The Year Ended December 31, 1983
Statement 18
Totals
December 31,
1983 1982
Sources of financial resources:
Operations:
Net income (loss) $ 26,704 $ (4,293)
Expenses not requiring outlay of
working capital - depreciation 51,693 49,261
Total sources from operations 78,397 44,968
Total sources 78,397 44,968
Uses of financial resources:
Purchase of fixed assets 24,578
Bond principal - current portion 10,000 10,000
Total uses 10,000 3 4,578
Net increase in working capital $ 68,397 $ 10,390
Components of increase in working capital:
Cash and investments
$ 21,396
$(12,625)
Accounts receivable
27,153
3,353
Due from other governmental units
3,372
5,445
Due from other funds
17,500
(608)
Due from County
817
309
Accounts payable
(1,219)
1,059
Accrued interest
188
187
Due to other governmental units
(172)
15,262
Salaries payable
140
Due to other funds
(399)
221
Meter deposits
(1,817)
(360)
Due from M.W.C.C.
468
(883)
Contract payable
1,110
(1,110
Net increase in working capital
$ 68,397
$ 10,390
The accompanying notes are an integral part of these financial statements.
CITY OF OAK PARK HEIGHTS, MINNESOTA
TRUST AND AGENCY FUNDS
COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
For The Year Ended December 31, 1983
Developers' D epo si ts Fund
Balance
January 1,
1 983 Additions Deletions
Statement 19
Balance
December 31,
1983
Assets
Cash (overdraft)
$(1,937,196)
$ 7,268,245
$ 7,219,632
Cash (overdraft)
$
316
$
13,428
$
14,805
$
(1,061)
Due from developers
18,327
964
$ - 0--
_2,2_
$14,487,877
581
161,681
2,629
18,327
$
1,280
$
15,674
$
15 ,386
$
1, 568
Liabilities
1 ,280
$14
$14
$
1,568
Liabilities
Accounts payable
$
239
$
361
$
239
$
361
Due to developers
$
1,041
Due to developers
1,2
1,041
1,041
1,041
1,207
Total liabilities
$
1,280
$
1,5
$
1,2
$
1,568
Investment Fund:
Assets
Cash (overdraft)
$(1,937,196)
$ 7,268,245
$ 7,219,632
$(1,888,583)
Investments
1,923,610
7,053,210
7,106,564
1,870,256
Accrued interest
1
166,422
161,681
18,327
Total assets
$ - 0--
$14,487,8
$14,487,877
$ -0-
Total Agency
Assets
Cash (overdraft) and
investments
$
(13,270)
$14,334,883
$14,341,001
$
(19,388)
Accrued interest receivable
13,586
166,422
161,681
18,327
Due from developers
964
2,246
581
2,629
Total assets
$
1 ,280
$14
$14
$
1,568
Liabilities
Accounts payable
$
239
$ 361
$ 239
$
361
Due to developers
1,041
1,207
1,041
1,207
Total liabilities
$
1,280
$ 1,568
$ 1,280
$
1,568
The accompanying notes are an integral part of these financial statements.
CITY OF OAK. PARK HEIGHTS, MINNESOTA
STATEMENT OF GENERAL FIXED ASSETS
December 31, 1983
Description
Land
Land improvements
Buildings and structures
Machinery and equipment
Furniture and fixtures
Totals
(UNAUDITED)
Balance
January 1,
$ 75,000
27,974
307,711
128,481
14, 453
$553 ,619
Statement 20
Additions Deletions
$ 21,947
933
11,761
941
$ 35,582
$ 13,182
$ 13,182
Balance
December 31,
1983
$ 75,000
49,921
308,644
127,060
15,394
$576,019
The accompanying notes are an integral part of these financial statements.
CITY OF OAK PARK HEIGHTS, MINNESOTA
STATEMENT OF GENERAL LONG -TERM DEBT
December 31, 1983
Statement 21
December 31,
1983 1982
Amount Availabl a nd to be Provided for the
Retirement of Long -Term Debt
Bonds:
Amount available in Debt Service Funds $ 1,591 $ 20,782
Amount to be provided from future tax levies 203,409 184,218
Compensated absences:
Amount to be provided 10,806 9,170
Total available and to be provided $ 215,80 $ 214,170
Gener Long --Term Deb Payable
Bonds payable:
Storm Sewer Bonds $ 205,000 $ 205,000
Compensated absences payable 10,806 9,170
Total general long --term debt payable $ 215,806 $ 214,1
The accompanying notes are an integral part of these financial statements.
CITY OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 1983
Note 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICI
The accounting policies of the City of Oak Park Heights, Minnesota conform to
generally accepted accounting principles as applicable to governmental units
except as disclosed below.
ENTITY
For the year ended December 31, 1983, the City has implemented National Council
on Governmental Accounting Statement No. 3, Defining t he Governmental Reportin
Entity In accordance with Statement No. 3, for financial reporting purposes,
the city's financial statements include all funds, account groups, boards and
commissions over which the City Council exercise oversight responsibility.
Oversight responsibility includes appointment of governing bodies, budget
authority, approval of tax levies and responsibility for funding deficits.
There are no additional units of government which meet the criteria of NCGA #3
for inclusion in the Annual Financial Report of the City of Oak Park Heights,
Minnesota.
FUND ACCOUNTING
The accounts of the City are organized and operated on the basis of funds and
groups of accounts. A fund is defined as a fiscal and accounting entity with
a self - balancing set of accounts recording cash and other financial resources,
together with all related liabilities and residual equities or balances, and
changes therein, which are segregated for the purpose of carrying on specific
activities or attaining certain objectives in accordance with special
regulations, restrictions, or- limitations.
BASIS OF ACCOUNTING
The modified accrual basis of accounting is followed by the City for its
governmental funds (General, Special Revenue, Debt Service, Capital Project,
Special Assessment Funds, and Trust and Agency). Under this method of
accounting, revenues are recognized when they become susceptible to accrual -
that is, when they become both measurable and available to finance expenditures
of the fiscal period. Also, under this method, expenditures are recognized in
the accounting period when the .liability is incurred, except for: (1) interest
on long -term debt which is recognized when due, except for January 1 maturities
which are recognized in the previous fiscal period; (2) inventory items which
are considered expenditures when purchased; and, (3) prepaid insurance and
similar services extending over :acre than one accounting period are considered
expenditures in the period of acquisition.
The City employs the accrual basis of accounting for its proprietary funds
(Enterprise Funds). Under this method, revenues are recognized in the
accounting period in which they are earned and expenses are recognized in the
accounting period when incurred if measurable
CITY OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 1983
Note 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - (Continued)
PROPERTY TAX REVENUE RECOGNITION
The City Council annually adopts a tax levy and certifies it to the County for
collection. The County is responsible for billing and collecting all property
taxes for itself, the City, the local School District and other taxing
authorities. These taxes are payable (by property owners) by May 31 and
October 31 of each calendar year. These taxes are collected by the County and
remitted to the City by approximately July 15, and December 15 of the same
year.. Additionally, delinquent collections (November through February) are
remitted to the City each April. The City has no ability to enforce payment of
property taxes by property owners. The County possesses this authority.
Taxes on homestead property (as defined by State Statutes) are partially
reduced by a homestead credit. This credit is paid to the City by the State
in lieu of taxes levied against homestead property. The State remits this
credit in installments each year.
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 homestead credits received by the City are recognized
as revenue for the current year. Additionally, taxes collected by the County
by December. 31 (remitted to the City the following April) and taxes and credits
not received at the normal time are recognized as revenue for the current year.
Unpaid delinquent taxes are generally measurable but not available to finance
the expenditures of the current year. Accordingly, these taxes are not
recognized as revenue until they are collected by the County. Unpaid
delinquent property taxes are reflected in the balance sheets at December 31
subject to a 100% allowance for doubtful accounts and deferred revenue. This
accounting practice is at nominal variance with generally accepted accounting
principles in that the deferred income position (that part of delinquent
taxes expected to be collected over the next several years) technically should
be shown separately as a liability. However, this variance is immaterial and
the cost of determining this measurement and reclassification does or could
exceed the benefit. Additionally, this variance has no material effect upon
the operating statements of the City.
The City's Property Tax Revenue includes receipts from the Metropolitan Revenue
Distribution (fiscal disparities formula) per State Statute 473F. This statute
provides a means of spreading a portion of the taxable valuation of commercial/
industrial real property to various taxing authorities within the defined
metropolitan area. The valuation "shared" is a portion of the commercial/
industrial property valuation growth since 1971. Property taxes paid to the
City of Oak Park Heights for 1983 and 1982 through this formula totaled $6,580
and $4,760 respectively. Receipt of property taxes from this "fiscal dispari-
ties pool" does not increase or decrease total tax revenue.
CITY OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 1983
Note 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - (Continued)
SPECIAL ASSESSMENT REVENUE RECOGNITION
Special assessments are levied against benefiting properties for the cost (or
a portion of the cost) of special assessment improvement projects in accor-
dance with State Statutes. The City usually adopts the assessment rolls when
the individual projects are complete or substantially complete. The
assessments are collectible (by the City) over a term of years usually con-
sistent 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 (and often do) to pre-
pay future installments without interest or prepayment penalties.
The City recognizes special assessment revenue when it becomes both measurable
and available to finance bonded debt. In practice, special assessment prin-
cipal is recognized as revenue in the year when the assessment rolls are tablu-
lated and adopted by the City Council, and when it is available to finance the
related bond issue principal. Special assessment interest is recognized as
revenue in the year due, which generally corresponds to the period it is
actually earned.
Once a special assessment roll is adopted, the amount attributed to each par-
cel 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, after a State Statute determined
number of years, the property is subject to tax - forfeit sale and the first pro-
ceeds of that sale (after costs, penalties and expenses of sale) are remitted
to the City in payment of delinquent special assessments. Generally, the City
will collect the full amount of its special. assessments not adjusted by City
Council or court action. Accordingly, no allowance for potentially uncollec-
tible assessments has been provided.
LOCAL GOVERNMENT AID REVENUE RECOGNITION
Local government aid is provided to the City by the State as a shared tax based
upon a statutory formula and without restrictions. Payment from the State is
generally received during each year for that calendar year. The City recognizes
local government aid revenue when it becomes both measurable and available to
finance current operations.
GRANT REVENUE RECOGNITION
The City receives various Federal, State and other grants, the purpose of
which is to fund specific City expenditures. These revenues are recognized at
the time of the specific expenditures.
The City also receives Federal Revenue Sharing and other general purpose
grants. These grants are recognized as revenues in the period to which the
grant applies.
CITY OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 1983
Note 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - (Continued)
CASH AND INVESTMENTS
Cash balances from all funds are pooled and invested, to the extent available,
in authorized investments. Earnings from such investments are allocated to the
individual funds on the basis of applicable cash balances available by each of
the funds and in accordance with State Statute. Cash and investments at
December 31, 1983 and 1982 were as follows:
Decemb
1983 _
Petty cash $ 50
Cash - checking (1,669)
Investments 1,870,256
Total $1,868,6
er 31,
1982
$ 50
(68,089)
1,923,610
$1,855,571
The payment of City bonds is made through various agents (banking institutions).
Cash is paid to the paying agents and they in turn pay principal and interest
to the various bond holders. Amounts of cash on hand with the paying agent at
December 31, 1983 totaling $7,358 is not included in these financial statements.
INVENTORIES
The original cost of materials and supplies has been recorded as expenditures
at the time of purchase. The City does not maintain significant amounts of
inventories of materials or supplies.
FIXED ASSETS - GENERAL
General fixed assets are recorded as expenditures of the governmental funds at
the time of purchase. Such assets are capitalized, at cost, in the general
fixed assets group of accounts except for certain improvements (roads, bridges,
curbs, gutters, streets, sidewalks, drainage system and lighting systems) which
are not capitalized. Gifts or contributions are recorded in general fixed
assets at fair market value at the time received. No depreciation has been
provided on general fixed assets.
The City does not maintain detailed records nor accounting controls over
general fixed assets. The amounts presented in the Statement of General Fixed
Assets represent amounts accumulated from historical financial reports only,
without regard to physical inventories or listings.
METER DEPOSITS
The City collects from water utility customers a deposit equal to the approxi-
mate cost of the meter at the time of installation of the meter. These depo-
sits are refundable to the customer upon return of the meter in proper working
order and payment of all delinquent charges to the City.
CITY OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 1983
Note 2 - FIXED ASSETS - FUNDS
Fixed assets of the proprietary funds (Water and Sewer) are stated at cost,
estimated cost, or in the case of contributions, at fair market value at the
time received. Depreciation has been provided using the straight -line method
over the estimated useful lives of assets, as follows:
Fixed assets of the water and sewer utility operations include the water
distribution system and sewage collection system. These systems have been
wholly (or substantially) financed by non - operating funds (special assessments,
general taxes, Federal and State grants, and other sources) and contributed to
the sewer and water operating funds. City policy is to finance these assets by
the sources indicated rather than by user charges. Accordingly, the water and
sewer user rates are not established at levels sufficient to cover depreciation
on these assets.
Depreciation on these assets is shown in the operating statements; however, the
depreciation is eventually transferred against the contribution account rather
than retained earnings in accordance with generally accepted accounting
principles. Consequently, the contribution account reflects the net book value
of contributed assets rather than the original cost of such assets.
Note 3 - BUDGETARY DATA
The City Council adopts an annual budget for the General Fund and those Special
Revenue Funds as presented in Statements 7 and 9 on an annual basis. During
the budget year supplemental appropriations and deletions are or may be
authorized by the City Council. The amounts shown in the financial statements
as "Budget" represent the original budgeted amounts plus all revisions made
during the year and /or for the year. The City budgets an amount for con-
tingency expenditures. The budget for 1983 included $37,000 of which the City
incurred no expenditures. The budget basis of acocunting is modified accrual.
Note 4 - METROPOLITAN WASTE CONTROL COMMISSION
During 1970, the Metropolitan Waste Control Commission (MWCC) was organized to
provide for consolidation of the sanitary sewer collection, treatment and
disposal in the seven county metropolitan area surrounding Minneapolis and St.
Paul. Previously, these operations were maintained by the city governments on
an individual or collective basis. When the MWCC was formed, existing inter-
ceptor sewer lines and treatment facilities were transferred from the cities to
the MWCC in exchange for future credits.
Depreciable
Depreciation
As
Lives
1983
1982
Purchased assets:
Water
5 - 50 years
$ 7,669
$ 5,312
Sewer
5 - 50 years
2,189
2,115
Contributed assets:
Water
50 years
21,070
21,070
Sewer.
50 years
20,765
20,765
Totals
$ 51,693
$ 49,262
Fixed assets of the water and sewer utility operations include the water
distribution system and sewage collection system. These systems have been
wholly (or substantially) financed by non - operating funds (special assessments,
general taxes, Federal and State grants, and other sources) and contributed to
the sewer and water operating funds. City policy is to finance these assets by
the sources indicated rather than by user charges. Accordingly, the water and
sewer user rates are not established at levels sufficient to cover depreciation
on these assets.
Depreciation on these assets is shown in the operating statements; however, the
depreciation is eventually transferred against the contribution account rather
than retained earnings in accordance with generally accepted accounting
principles. Consequently, the contribution account reflects the net book value
of contributed assets rather than the original cost of such assets.
Note 3 - BUDGETARY DATA
The City Council adopts an annual budget for the General Fund and those Special
Revenue Funds as presented in Statements 7 and 9 on an annual basis. During
the budget year supplemental appropriations and deletions are or may be
authorized by the City Council. The amounts shown in the financial statements
as "Budget" represent the original budgeted amounts plus all revisions made
during the year and /or for the year. The City budgets an amount for con-
tingency expenditures. The budget for 1983 included $37,000 of which the City
incurred no expenditures. The budget basis of acocunting is modified accrual.
Note 4 - METROPOLITAN WASTE CONTROL COMMISSION
During 1970, the Metropolitan Waste Control Commission (MWCC) was organized to
provide for consolidation of the sanitary sewer collection, treatment and
disposal in the seven county metropolitan area surrounding Minneapolis and St.
Paul. Previously, these operations were maintained by the city governments on
an individual or collective basis. When the MWCC was formed, existing inter-
ceptor sewer lines and treatment facilities were transferred from the cities to
the MWCC in exchange for future credits.
CITY OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 1983
Note 4 - METROPOLITAN WASTE CON'T'ROL COMMISS (Continued)
The MWCC finances its operations by user charges to the various cities based
upon volume. Included in these user charges are amounts .required to liquidate
the credits arising from the 1970 transfer identified above. In practice,
every city receives annual credits based upon the assets transferred to the
MWCC in 1970 and annual charges (to finance these credits) based upon annual
volume. The net amount of these credits is billed to each city as part of its
annual user charge for operation and maintenance of the collection, treatment
and disposal system.
The MWCC bills the City annually based upon estimated volume and budgeted
costs. These billings are later adjusted when actual volume and actual costs
are determined. The adjustment to actual is generally determined in the suc-
ceeding calendar year and payable, by the City, in the second succeeding calen-
dar year. The City follows the accounting policy of recognizing these charges
as an expense of the sewer utility operation in the year for which they are
billed (for estimated billings) and in the year the adjustments are determined
(for adjustments from estimated to actual billings).
In addition to the above charges /credits, the City paid the MWCC reserve capa-
city deferred charges in 1971 and 1972. These deferred charges are being
repaid to the City at nominal amounts per year including interest at approxima-
tely 3-1/2%.
Future credits and deferred charges are not reflected in these financial
statements, as these credits will be off -set by annual. charges as detailed
above. The amount of these credits at December 31, 1983 and 1982 were:
Current value credits
Debt service credits
Deferred charges
December 31,
1983 1982
$ 663 $ 702
190,413 205,878
8,796 9,351
Totals
$ 199,872 $ 215,931
Note 5 - DEFERRED AD VALOREM TAX LEVIES - SPECIAL ASSESSMENT BOND ISSUES
Certain special assessment bond issues sold by the City are partially financed
by ad valorem tax levies in ad�-ition to special assessments levied against the
benefitting properties. When a bond issue to be financed partially or wholly
by ad valorem tax levies is sold, specific annual amounts of such tax levies
are stated in the bond resolution and the County Auditor is notified and
instructed to levy these taxes over the appropriate years. These future tax
levies are subject to cancellation when and if the City has provided alter-
native sources of financing.
These future scheduled tax levies are not shown as assets of the special
assessment funds at December 31, 1983 nor 1982 in accordance with generally
accepted accounting principles. Revenue from these tax levies is recognized
annually as explained under "Property Tax Revenue Recognition ".
CITY OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 1983
Note 5 - DEFERRED AD VALOREM TAX LEVIES - SPECIAL ASSESSMENT BOND ISSUES (Continued)
Scheduled and actual debt service tax levies for general obligation special
assessment bonds were and are as follows:
Note 6 - SPECIAL TAXING DISTRICT
The City Council of Oak Park Heights established Storm Sewer Improvement Tax
District No. 1 pursuant to Minnesota Statues, Section 444.17 and Ordinance No.
1600 adopted by the City on October 12, 1982. The City is accounting for the
activity of this fund as a debt service fund.
Financing of the construction costs for establishmexxt of this district was pro-
vided by issuing the $205,000 General Obligation Storm Sewer Bonds of 1982.
The bonds mature over the next 21 years with final payment due in 2003. To
provide monies for payment of the principal and interest on the bonds the City
levied upon all the taxable property in the Storm Sewer Improvement Tax
District an ad valorem tax. The levy is to be spread for collection in years
1984 to 2003. The total amount of this levy adopted was $436,999. (See Exhibit 3)
Note 7 - RETIREMENT PLANS
The City participates in contributory pension plans through the Public
Employees Retirement Association (P.E.R.A.) under Minnesota Statutes Chapter
353, which covers substantially all employees except those qualifying as tem-
porary or seasonal employees and employees covered by other plans (if
applicable). This plan is a State administered plan and is coordinated with
the Federal Social Security Retirement Plan. State Statute requires the City
to fund current service pension costs as it accrues. Prior service cost is
Percent
Levy /Collection
Scheduled
Actual
Levied
1975/76
$ 75,300
$ 75,300
100.00%
1976/77
79,300
79,300
100.00
1977/78
80,300
80,300
100.00
1978/79
79,300
79,300
100.00
1979/80
88,800
88,800
100.00
1980/81
88,400
48,800
55.21
1981/82
90,900
30,000
33.00
1982/83
94,300
68,000
72.11
1983/84
95,800
75,000
78.29
1984/85
93,300
1985/86
85,000
1986/87
84,200
1987/88
83,400
1988/89
86,800
1989/90
85,700
1990/91
71,700
1991/92-
1996/97
378,400
Note 6 - SPECIAL TAXING DISTRICT
The City Council of Oak Park Heights established Storm Sewer Improvement Tax
District No. 1 pursuant to Minnesota Statues, Section 444.17 and Ordinance No.
1600 adopted by the City on October 12, 1982. The City is accounting for the
activity of this fund as a debt service fund.
Financing of the construction costs for establishmexxt of this district was pro-
vided by issuing the $205,000 General Obligation Storm Sewer Bonds of 1982.
The bonds mature over the next 21 years with final payment due in 2003. To
provide monies for payment of the principal and interest on the bonds the City
levied upon all the taxable property in the Storm Sewer Improvement Tax
District an ad valorem tax. The levy is to be spread for collection in years
1984 to 2003. The total amount of this levy adopted was $436,999. (See Exhibit 3)
Note 7 - RETIREMENT PLANS
The City participates in contributory pension plans through the Public
Employees Retirement Association (P.E.R.A.) under Minnesota Statutes Chapter
353, which covers substantially all employees except those qualifying as tem-
porary or seasonal employees and employees covered by other plans (if
applicable). This plan is a State administered plan and is coordinated with
the Federal Social Security Retirement Plan. State Statute requires the City
to fund current service pension costs as it accrues. Prior service cost is
CITY OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 1983
Note 7 - RETIREMENT PLANS (Continued)
being amortized over a period of 40 years and is being funded by payments
determined as a percentage of gross wages paid by all employers participating
in the State Association. The amount of unfunded prior service cost attributed
to individual reporting entitles is not determinable. City contributions for
1983 and 1982, including amortization of estimated prior service cost is shown
below.
City contributions for 1983 and 1982 for all pension plans for all City funds
were;
Descri tp ion
P.E.R.A.
F.I.C.A.
Totals
1983 1982
$ 22,400 $ 20,800
6,300 5,900
$ 28,700 $ 26,
Note 8 - ACCRU SICK AND VACAT PAY
The City at December 31, 1983 and 1982 has a recorded liability in the General
Long -Term Debt Account Group for employee compensated absences and severance
pay as follows:
1983 1982
Vacation pay $ 1,987 $ 2,229
Severance pay 8,819 6,941
$ 10,806 $ 9,170
Vacation pay is payable when used or upon termination of employment. Severance
pay is payable to employees with ten years of service upon termination of
employment. All permanent employees are eligible to receive severance pay for
unused sick leave at a rate of one -half their accumulated sick leave balance up
to a maximum of 75 days.
The City also has an unrecorded contingent liability for employee sick leave of
$45,215 and $35,526 at December 31, 1983 and 1982.
CITY OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 1983
Note 9 - BONDED INDEBTEDNESS
During 1983, the City experienced the following changes in bonded indebted-
ness:
General Special
Obligation Assessment Revenue Total
Bonds payable at
January 1, 1983
New bonds issued:
Improvement Bonds
of 1983
Bonds retired
Bonds payable at
December 31, 1983
$ 205,000 $1,375,000 $190,000 $1,770,000
80,000
80,000
155,000 10,000 165,000
$ 205,000 $1,300,000 $180,000 $1,685,000
All bond issues outstanding at December 31, 1983 are backed by the full. faith
and credit of the City, including special assessment bond issues. Outstanding
balances at December 31, 1983 principal and interest payments due in 1983,
final due date, interest rates, and other pertinent data is presented in the
Combined Statement of Indebtedness - Exhibit 1 and /or the Statements of Debt
Service Payments to Maturity - Exhibits 2 and 3.
The following schedule details the aggregate required debt service payments.
Included in these payments is interest totaling $854,469.
Total $463,783
Special
Assessment
General
Tot al
Obligation
1984
$ 25,253
1985
24,827
1986
24,403
1987
23,977
1988
23,553
1989/2003
341,770
Total $463,783
Special
Assessment
Revenue
Tot al
$ 228,238
$ 24,700
$ 278,191
171,095
28,950
224,872
169,814
27,788
222,005
143,263
26,625
193,865
137,752
25,425
186,730
947,874
144,162
1,433,806
$1, 798,036
$277,650
$2,539,469
Note 10 - CONDENSED COMBINED FINANCIAL uT_TEIEN'TS
The Condensed Combined Financial Statements contained in this report provide a
summary overview of the financial position of all funds and account groups and
of the operating results of all funds. They also serve as an introduction to
the more detailed statements that follow. The reader is cautioned that these
combined statements have been condensed for presentation purposes and that
certain disclosures contained in the combining, fund and account group finan-
cial statements may not be disclosed in the condensed combined financial
statements.
CITY OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 1983
Note 11 - "MEMORA ON LY" PRESENTATIONS
Presented in these financial statements are certain amounts labeled
"memorandum only ". The reader is cautioned that this information has certain
limitations as follows:
(1) The "Total" columns of the various combined statements
present a combining of unlike purpose funds and cannot
be construed to be indicative of the overall financial
position, overall results of operations nor overall
changes in financial position of the City.
(2) Prior year "Total" columns likewise may combine unlike
purpose funds (as in 1 above) and additionally do not
present detail components by fund group (as is presented
for current year totals) and therefore, are incomplete
presentations of prior year statements of financial
position, results of operations, and changes in financial
position of the various funds of the City as established
by generally accepted accounting principles.
(3) Statement of Revenue, Expenditures and Changes in Fund
Balance Compared to Budget present prior year actual
amounts. These amounts are incomplete presentations
in that prior years budget amounts are not included
in conformance with generally accepted accounting
principles.
Note 12 - INTER RECEIVABLE /PAYABLES
As of December 31, 1983 there were the following amounts due between funds as
a result of year -end adjusting journal entries:
Fund
Due From
Other Funds
$ 1,346
11,472
17,500
$ 30,31
Due To
Other Funds
$ 23,727
1,346
4,846
399
$ 30,318
General
Capital Project
Special Assessment
Enterprise
Total
The above interfund receivables and payables are scheduled to be eliminated in
1984.
CITY OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 1983
Note 13 - RES`.PRICTIONS OF FUND EQUITY
At December 31, 1983 and 1982 the City had reserved and designated portions of
their fund equity through legal restriction, City Council action, policy,
and /or intent. The following is a summary of the restrictions:
_ Des cription
Special Revenue Funds:
Designated for ensuing years expenditures
Debt Service:
Reserved for debt service
Capital Project Funds:
Designated for capital improvements
Designated for committed contracts
Special Assessments:
Reserved for debt service
Designated for committed contracts
Designated for cons'truc'tion
Total governmental fund types
Note 14 - CONTI NGENCIES
December 31,
198
1982
$ 58,314
$ 56,500
1,591
20,782
(1,489)
199,154
4,430
4,430
255,866
139,393
19,292
157,772
59,131
(44,366
$397,1
$533,66
The City Attorney has indicated that existing and pending lawsuits, claims and
other actions in which the City is a defendent are either covered by
insurance; of an immaterial amount; or, in the judgment of the City Attorney,
remotely recoverable by plaintiffs.
The City was the defendant in a lawsuit over the amount to be paid to the City
for hook --up charges to the municipal water and sewer system. The amount con-
tested was $53,000. The lawsuit was heard before the court in December, 1983.
The court, on March 7, 1984, issued its order in favor of the City and
concluded that the City was entitled to the amount being contested of $53,000.
Note 15 - PRIOR PERIOD ADJUSTM
Prior to December 31, 1983, the City did not record in the financial state-
ments a liability for compens?z_d" absences payable. Beginning with December
31, 1983, accrued sick days payable as reverence pay and vacation pay has been
recorded as a liability in these financial statements of the City of Oak Park
Heights (see Note 8).
The effect of the change as of December 31, 1982 on amount to be provided is
as follows:
Amount to be provided - December 31, 1982 $ 205,000
Compensated absences payable - December 31, 1982 9,170
Amount to be provided (restated) - December 31, 1983 $ 214,170
CITY OF OAK PARK HEIGHTS, MINNESOTA
COMBINED SCHEDULE OF INDEBTEDNESS
December 31, 1983
Bonded Indebtedness:
General Debt:
Storm Sewer Bonds of 1982
Special assessment bonds:
General Obligation Bonds of 1967
Water and Sanitary Sewer Bonds of 1968
General Obligation Storm Sewer Improvement
Bonds of 1971
General Obligation Bonds of 1976
General Obligation Improvement Bonds of 1978
General Obligation Improvement Bonds of 1978
General Obligation Improvement Bonds of 1979
General Obligation Improvement Bonds of 1982
General Obligation Improvement Bonds of 1983
Total special assessment bonds
Revenue Bonds:
General Obligation Water and Sewer Bonds of 1980
Total Indebtedness
10/1/80 10/1/94 7.50
Final
Net
Payment
Interest
Dated
Due
Rate
12/1/82
12/1/03
10.12%
9/1/67
9/1/97
4.50
3/1/68
2/1/98
4.80
5/1/71
5/1/91
4.60
9/1/76
10/1/86
4.00
9/1/78
9/1/84
5.50
11/1/78
11/1/84
5.50
3/1/79
3/1/84
6.00
8/1/82
8/1/93
10.75
12/15/83
2/1/93
8.60
10/1/80 10/1/94 7.50
CITY OF OAK PARK HEIGHTS, MINNESOTA
Exhibit 1
Bonds
Principal
Interest
Authorized
Retired
Outstanding
Due
Due
And Is sued
To Date
At 12/31/83
In 1984
In 198
$ 205,0
$ 205,000
$ 5,000
$ 20,253
900,000
$ 395,000
505,000
30,000
23,535
500,000
150,000
350,000
20,000
17,500
173,000
93,000
80,000
10,000
4,200
249,000
189,000
60,000
20,000
3,120
100,000
80,000
20,000
20,000
1,100
100,000
80,000
20,000
20,000
1,100
100,000
80,000
20,000
20,000
600
165,000
165,000
15,000
17,750
80,000
80,000
4,333
2,367,000
1,
1,300,000
15 5,000
73,238
200,000
20,000
180 ,000
10,000
14,70
$2,772,000
$1,087,000
$1 ,685, 000
$170,000
$108,191
CITY OF OAK PARK HEIGHTS, MINNESOTA
SPECIAL ASSESSMENT BONDS
SCHEDULE OF DEBT SERVICE PAYMENTS TO MATURITY
December 31, 1983
Year of maturity:
1984
G.O. Storm
$ 14,200
$100,000
1985
Sewer
13,660
G.O.
G.O. Bonds
Improvement
$249,000
Improvement
Of 1967
Bonds
G.O. Bonds
Bonds
A nd 1968
Of 1971
Of 1976
Of 1978
Bonds payable $ 855,000
$ 80,000
$ 60,000
$ 20,000
Future interest payable 330,920
18,
6,280
1,100
Totals $ 1,185,920
$ 98,095
$ 66,280
$ 21,10
Year of maturity:
1984
$ 91,035
$ 14,200
$ 23,120 $ 21,100
1985
88,655
13,660
22,100
1986
91,275
13,115
21,060
1987
88,665
12,560
1988
86,055
11,995
1989
88,445
11,425
1990
85,585
10,855
1991
82,690
10,285
1992
79,795
1993
81,900
1994
78,770
1995
75,640
1996
72,510
1997
69,380
1998
25,520
Totals
$1,185,920
$ 98,095
$ 66,2 $ 21,100
CITY OF OAK PARK HEIGHTS, MINNESOTA
Exhibit 2
$100,000
$100,000
$165,000
$80,000
G.O.
G.O.
G.O.
G.O.
Improvement
Improvement
Improvement
Improvement
Bonds
Bonds
Bonds
Bonds
Of 1978
Of 1
Of 1982
Of 1983
Total
$ 20,000
$ 20,000
$ 165,000
$ 80,000
$1,300,000
1,100
600
104,48
35,453
498,036
$ 21,100
$ 20,60
$ 269,488
$ 115,453
$1,798,03
$ 21,100
$ 20,600
$ 32,750
$ 4,333
$ 228,238
31,175
15,505
171,095
29,600
14,764
169,814
28,025
14,013
143,263
26,450
13,252
137,752
24,875
12,483
137,228
23,263
11,705
131, 408
26,650
10,917
130,542
24,450
10,121
114,366
22,250
8,360
112,510
78,770
75,640
72,510
69,380
25,520
$ 21,100
$ 20,6
$ 269,488
$ 115,453
$1,798,036
CITY OF OAK PARR HEIGHTS, MINNESOTA
REVENUE BONDS AND GENERAL DEBT BONDS
DEBT SERVICE PAYMENTS TO MATURITY
December 31, 1983
Water And Sewer
Revenue Bond
Bonds payable $ 180,000
Future interest payable 97,650
Total $ 277,650
Year Of Maturi
1984
$ 24,700
1985
28,950
1986
27,788
1987
26,625
1988
25,425
1989
24,225
1990
22,987
1991
26,750
1992
25,100
1993
23,400
1994
21,700
1995
1996
1997
1998
1999
2000
2001
2002
2003
Total $ 277,650
Exhibit 3
Special
Taxing District
$205,000
Storm Sewer
Bond of 1982
$ 205,000
258,783
$ 463,783
$ 25,253
24,827
24,403
23,977
23,553
28,102
27,203
26,277
25,353
24,377
23,403
22,402
21,4,03
20,377
24,353
22,815
21,270
19,710
18,150
16,575
$ 463,783
CITY OF OAK PARK HEIGHTS, MINNESOTA
CONSTRUCTION COSTS BY PROJECT
For The Year Ended December 31, 1983
C Cost
Contractor
Engineering
Legal, Fiscal, Easements
Other
Total costs
Current Year
Prior Years
920
4,678
35,795
700
$ 23,693
$ 23,693
$ -0-
621
$ 21,947
$ 6,52
$ 15,427
5,339
4
$227,35
$205,4
$ 21,895
* Completed at December 31, 1983
Capital Project
Funds
Capital Improvement
Fund
Brekke Park
Storm Sewer
Seal
Grading and
Drainage
Coating
Improvements
Improvement
$ 22,073
$ 16,648
$181,292
920
4,678
35,795
700
$ 23,693
$ 23,693
$ -0-
621
$ 21,947
$ 6,52
$ 15,427
5,339
4
$227,35
$205,4
$ 21,895
* Completed at December 31, 1983
CITY OF OAK PARK HEIGHTS, MINNESOTA
Exhibit 4
Interim Construction Fund
Anderson /Lindquist Brekke Park
Pond Shelter
$ 1,121
Spe Assessment
1982 a nd Sewer
1,263
_ Water
Anderson /Lindquist
1983 I
Water and Sewer
Heights
Extensions
Busin P ark
$
$244,917
$ 40,001
34,136
6,237
8,278
2,411
$287,
$ 48,649
$197,780
$ 48,649
$ 89,
$ -0-
Interim Construction Fund
Anderson /Lindquist Brekke Park
Pond Shelter
$ 1,121
$
2,505
1,263
50
17
$ 2,434
$
2,522
$ 2,43
$
2,522
$ -0-
$
-0-
CITY OF OAK PARK HEIGHTS, MINNESOTA
Exhibit 5
SECURITIES FOR DEPOSITS
December 31, 1983
Description Amount
Federated GNMA Trust $ 485,000
Municipal Bonds 710,000
U.S. Treasury Note 400,000
U.S. Treasury Bills 575,000
$ 2,170,00
The above securities have been assigned:
By: Oak Park Heights
To:
Amoun
Cosmopolitan State Bank
National City
Bank Minneapolis
$ 310,000
Cosmopolitan State Bank
1st National
Bank St. Paul
335,000
Oak Park Heights State Bank
Norwest Bank
° Minneapolis
575,000
Norwest Bank of Stillwater
Northwestern
State Bank
465,000
Washington Federal
Federated Investors
Pennsylvania
485,000
C 0 1'7n nnn
CITY OF OAK PARK HEIGHTS, MINNESOTA
Exhibit 6
INSURANCE IN FORCE
December 31, 1983
Coverage
Amount
Umbrella liability
$ 5,000,000
Property and general liability:
Property (scheduled locations)
1,080,817
General liability:
Bodily injury
500,000/500,000
Property damage
100,000/100,000
Personal injury
500,000
Host liquor
500,000
Public employees bond:
Clerk - treasurer
50,000
Deputy clerk - treasurer
50,000
Faithful performance blanket bond
50,000
Counterfeit and depositors forgery
50,000
Automobile fleet, comprehensive and collision (scheduled
vehicles):
Liability:
Bodily injury and property damage
500,000
Uninsured motorist
100,000
Underinsured motorist
100,000
Personal injury protection:
Medical
20,000
Disability
10,000
Physical damage:
Comprehensive
A.C.V.
Collision ($250 deductible)
A.C.V.
Workmen's compensation
Statutory
Public officials' errors and omissions ($500 deductible)
100,000 /1,000,000
Enforcement professional liability
500,000 /400,000
CITY OF OAK PARK HEIGHTS, MINNESOTA
Year Of Coll ection
FUTURE SCHEDULED TAX LEVIES
December 31, 1983
Special Assessment Bonds
Year Of Bond Issue
1967 1968 1971
MEN
1984
$ 12,000
1985
$ 32,700
$ 31,600
11,000
1986
37,200
30,800
11,000
1987
36,300
29,900
11,000
1988
35,300
29,100
12,000
1989
34,400
33,400
12,000
1990
33,400
32,300
12,000
1991
32,500
31,200
1992
31,600
29,900
1993
35,700
29,000
199'
34,500
27,800
1995
33,300
26,700
1996
32,000
25,700
1997
30,800
33,400
1998
1999
2000
2001
2002
2003
Totals
$439,700
$390,80
$ 81,000
$ 12,000
$ 12,000
CITY OF OAK PARK HEIGHTS, MINNESOTA
Y ear of Bond Issue
197 8/79 1982
$ 57,000 $ 6,000
6,000
6,000
7,000
7,000
7,000
8,000
8,000
8,000
Total
75,000
93,300
85,000
84,200
83,400
86,800
85,700
71,700
69,500
64,700
62,300
60,000
57,700
64,200
Exhibit 7
Special
Taxing District
Storm Sewer
Total
Bonds Of 198
All Bond
$ 26,516
$ 101,516
26,069
119,369
25,623
110,623
25,177
109,377
24,731
108,131
29,508
116,308
28,563
114,263
27,592
99,292
26,621
96,121
25,597
90,297
24,593
86,893
23,523
83,523
22,473
80,173
21,397
85,597
25,571
25,571
23,956
23,956
22,333
22,333
20,695
20,695
19,057
19,057
17,404
17,404
$ 57,000 $ 6 3,000 $1,043, $ 486,9 $ 1,530,
CITY OF OAK PARK HEIGHTS, MINNESOTA
Taxable valuations:
Real property
Personal property
Total
Fiscal disparity adjustment:
1983
Storm Sewer
District Total Cit
$34,345,700 $45,753,661
844, 907
_
34,345,700 46,598,5
Distribution 875,666
Contribution (954,967 (1,120,997
Total (954,967 (245,331
Total taxable valuation $33,390,733 $46,353,2
Tax levies and mill rates:
Year of levy
Year of collection
City -wide levies:
Revenue
Bonded debt
Total
Storm Sewer District:
Storm Sewer Bonds of 1982
TAXABLE VALUATIONS, TAX LEVIES AND MILL RATES
1983
1984
Exhibit 8
0"
Total City
$43,449,451
801,911
44, 251, 362
569,642
(2,030,071
(1,460,429
$42,790,933
1982
1983
Amount
Mill
Amount
Mill
Levie
Rates
Levied
Rates
$595,123
12.864
$537,259
12.639
75,000
1.621
68,000
1.60
$670,123
14.485
$605,259
14.241
$ 26,516 .795 $ -0- -0-