HomeMy WebLinkAboutAnnual Financial Report CITY OF ®AID PARIS HEIGHTS, MINNESOTA
ANNUAL FINANCIAL REPORT
DECEMBER 31, 1999
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CITE' OF OAK PARK HEIGHTS, MINNESOTA
TABLE OF CONTENTS
Page
Number
Organization I
Independent Auditor's Report 3
General Purpose Financial Statements
Combined Balance Sheet - All Fund Types and Account Groups Statement 1 8
Combined Statement of Revenue, Expenditures and Changes in Fund Balance -
All Governmental Fund Types Statement 2 10
Combined Statement of Revenue, Expenditures and Changes in Fund Balance -
Budget and Actual - General Fund Statement 3 11
Combined Statement of Revenue, Expenses and Changes in Retained Earnings -
Proprietary Fund Type
Statement 4 12
Combined Statement of Cash Flows - Proprietary Fund Type Statement 5 13
Notes to Financial Statements 15
Combining, Individual Fund and Account Group Financial Statements:
General Fund:
Statement 6 38
Balance Sheet
Statement of Revenue, Expenditures and Changes in Fund Balance -
Budget and Actual Statement 7 39
Special Revenue Funds:
Combining Balance Sheet Statement 8 44
Combining Statement of Revenue, Expenditures and Changes in Fund Balance Statement 9 45
Debt Service Funds:
Combining Balance Sheet Statement 10 46
Combining Statement of Revenue, Expenditures and Changes in Fund Balance Statement 11 47
Capital Project Funds:
Combining Balance Sheet Statement 12 48
Combining Statement of Revenue, Expenditures and Changes in Fund Balance Statement 13 52
Enterprise Fund:
Statement 14 56
Balance Sheet
Statement of Revenue, Expenses and Changes in Retained Earnings Statement 15 57
Statement of Cash Flows Statement 16 58
CITE' OF ®AID PARK HEIGHTS, MANESOTA
TABLE OF CONTENTS
Page
Number
Agency Funds:
Combining Balance Sheet Statement 17 59
Combining Statement of Changes in Assets and Liabilities Statement 18 60
General Fixed Asset Account Group:
Schedule of General Fixed Assets Statement 19 61
General Long -Term Debt Account Group:
Schedule of General Long -Term Debt Statement 20 62
Supplementary Financial Information
Combined Schedule of Indebtedness Exhibit 1 64
Debt Service Payments to Maturity:
Revenue Bonds and General Debt Bonds Exhibit 2 65
Insurance in Force Exhibit 3 66
Future Scheduled Tax Levies Exhibit 4 67
Taxable Valuations, Tax Levies and Tax Rates Exhibit 5 68
Schedule of Construction Costs Exhibit 6 69
Statistical Section
General and Special Revenue Funds - Expenditures by Function -
Years 1990 through 1999 Table 1 72
General and Special Revenue Funds - Revenue by Source -
Years 1990 through 1999 Table 2 73
Property Tax Levies and Collections - Years 1990 through 1999 Table 3 74
Special Assessment Collections - Years 1990 through 1999 Table 4 75
Principal Taxpayers Table 5 76
CITE' OF OAK PARK HEIGHTS, MINNESOTA
ORGANIZATION
December 31, 1999
Term Expires
Mayor:
David Schaaf December 31, 2000
Council Members:
Lynae Eynre December 31, 2002
Marls Swenson December 31, 2002
David Eeaudet December 31, 2000
Jerry Turnquist December 31, 2000
Administrator:
Thomas Melena Appointed
Deputy Cleric /finance Director:
Judy Holst Appointed
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4
Our audit was performed for the purpose of fornirming an opinion on the general purpose financial
statements taken as a whole. The combining and individual fund and account group financial
statements, supporting schedules and supplementary information listed in the table of contents are
presented for purposes of additional analysis and are not a required part of the general purpose
financial statements of the City of Oak Park Heights, Minnesota. Such information, except for that
portion marked "unaudited," on which we express no opinion, has been subjected to the auditing
procedures applied in the audit of the general purpose financial statements and, in our opinion, is
fairly stated in all material respects, in relation to the general purpose financial statements taken as a
whole.
March 13, 2000
HL$ TAUTGES REDPATH, LTD.
Certified Public Accountants
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6
GENERAL PURPOSE
FINANCIAL STATEMENTS
7
CITY OF OAK PARK HE' IGHTS, MINNESOTA
COMBINED BALANCE SHEET -
ALL FUND TYPES AND ACCOUNT GROUPS
December 31, 1999
With Comparative Totals For December 31, 1998
Governmental Fund Types
Special Debt
Assets General Revenue Service
Cash and investments $1,172,829 $86,567 $555,486
Interfund loan receivable - 10,313 -
Accrued interest receivable - - -
Accounts receivable 9,030 - 35,454
Due from other governmental units 37,531 -
Due from developers - _
Prepaid items -
Inventory - - -
Taxes receivable:
Delinquent 22,952 _ 1,028
Due from County 17,061 - 898
Special assessments receivable - 1,444,830
Fixed assets (net of accumulated depreciation) - - -
Amount available in general fund -
Amount available in debt service fund -
Amount to be provided for retirement of general long -term debt - -
Total assets $1,259,403 $96,880 $2,037,696
Liabilities, Equity and Other Credits
Liabilities:
Cash overdraft $ - $ $
Interfund loan payable -• 260,000
Escrow deposits payable - •-
Accounts payable 34,602 -
Salaries payable 1,918 -
Contracts payable -•
Due to other governmental units 7,830 -
Due to developers - -
Compensated absences payable
Bonds payable - -
Deferred revenue 23,972 - 1,444,281
Total liabilities 68,322 260,000 1,444,281
Equity and other credits:
Invested in general fixed assets - -
Contributions - net - - -
Retained earnings:
Reserved - - -
Unreserved - - -
Fund balance:
Reserved - 10,313 593,415
Unreserved:
Designated 1,191,081 4,124 -
Undesignated - (177,557) -
Total equity and other credits 1,191,081 (163,120) 593,415
Total liabilities, equity and other credits $1,259,403 $96,880 $2,037,696
The accompanying notes are an integral part of these financial statements.
8
Statement 1
Proprietary Fiduciary Account Groups Totals
Capital Fund Type Fund Type General General Long- (Memorandum Only)
Project Enterprise Agency Fixed Assets Term Debt 1999 1998
$3,592,992 $436,920 $31,000 $ - $ - $5,875,794 $7,561,692
260,000 - - - _ 270,313 260,000
- - 111,294 - 111,294 146,730
5 118,539 2,475 _ _ 165,503 163,287
- 437 - - _ 37,968 44,059
64,290 - 45,063 _ - 109,353 42,416
- 21,952 - _ 21,952 18,757
_ - 2,624
23,980 16,863
_ _ - 17,959 41,390
392,216 - - _ _ 1,837,046 946,154
- 4,645,952 _ 2,690,219 - 7,336,171 6,758,561
_ _ - 102,958 102,958 76,617
593,415 593,415 544,441
2,811,585 2,811,585 3,235,559
$4,309,503 $5,223,800 $189,832 $2,690,219 $3,507,958 $19,315,291 $19,859,150
$32,513 $ - $150,767 $ $ - $183,280 $181,764
10,313 - _ _ - 270,313 260,000
9,347 - 31,000 - - 40,347 42,347
33,631 26,274 6,412 - 100,919 126,516
- 1,308 - - 3,226 8,773
176,222 - - - - 176,222 72,458
- 10,815 - - - 18,645 22,266
- 1,653 - - 1,653 718
22,987 - - 102,958 125,945 90,006
_ _ m 3,405,000 3,405,000 3,780,000
370,606 - - - - 1,838,859 963,249
632,632 61,384 189,832 0 3,507,958 6,164,409 5,548,097
- - 2,690,219 - 2,690,219 2,451,402
- 4,403,495 - - - 4,403,495 4,073,875
- 661,765 _ - - 661,765 661,765
- 97,156 - - - 97,156 179,761
260,000 - - - 863,728 807,065
3,489,532 _ _ - 4,684,737 6,272,364
(72,661) _ - - - (250,218) (135,179)
3,676,871 5,162,416 0 2,690,219 0 13,150,882 14,311,053
$4,309,503 $5,223,800 $189,832 $2,690,219 $3,507,958 $19,315,291 $19,859,150
The accompanying notes are an integral part of these financial statements.
9
CITE' OF OAK PARK HEIGHTS, MINNESOTA
COMBINED STATEMENT OF REVENUE, EXPENDITURES AND Statement 2
CHANGES IN FUND BALANCE - ALL GOVERNMENTAL FUND TYPES
For The Year Ended December 31, 1999
With Comparative Totals For The Year Ended December 31, 1998
Totals
Special Debt Capital (Memorandum Only)
General Revenue Service Project 1999 1998
Revenue:
General property taxes $1,333,194 $ - $83,760 $ - $1,416,954 $1,563,865
Tax increment taxes - - - 13,945 13,945 43,834
Special assessments - - 321,291 353,927 675,218 174,618
Intergovernmental 192,194 - - - 192,194 208,560
Licenses and permits 227,693 - - 227,693 125,678
Charges for services 230,147 _ - - 230,147 186,799
Fines and forfeits 58,886 - - - 58,886 60,183
Earnings on investments 36,970 5,741 28,387 231,578 302,676 286,845
Connection charges - - 35,454 31,832 67,286 796,131
Escrow /interfund loan interest - 313 - 20,000 20,313 10,000
Refunds and reimbursements 65,295 - - 1,132,699 1,197,994 236,525
Donations and contributions 365 - - 4,275 4,640 23,407
Other 3,087 4,030 - 15,408 22,525 8,263
Total revenue 2,147,831 10,084 468,892 1,803,664 4,430,471 3,724,708
Expenditures:
Current:
General government 772,729 - - - 772,729 774,444
Public safety 886,666 977 - - 887,643 835,293
Public works 192,501 - - -- 192,501 139,948
Recreation 73,241 - - - 73,241 120,255
Community development 84,221 40,110 - - 124,331 43,471
Capital outlay 40,055 2,309 - 175,307 217,671 311,338
Debt service:
Principal - - 375,000 - 375,000 215,000
Interest - - 178,496 - 178,496 93,905
Professional services - - 1,422 18,162 19,584 73,110
Contractual services - - - 862 862 -
Developer assistance - - - 8,367 8,367 26,300
Administrative charge - - - 7,253 7,253 27,009
Construction costs - - - 3,278,021 3,278,021 1,297,353
Total expenditures 2,049,413 43,396 554,918 3,487,972 6,135,699 3,957,426
Revenue over (under) expenditures 98,418 _ (33,312)_ (86,026) (1,684,308) (1,705,228) (232,718)
Other financing sources (uses):
Bond proceeds - - - - - 1,958,298
Operating transfers from other funds - 135,000 503,225 638,225 983,785
Operating transfers to other funds (94,000) - - (485,000) (579,000) (1,058,432)
Total other financing sources (uses) (94,000) 0 135,000 18,225 59,225 1,883,651
Net increase (decrease) in fund balance 4,418 (33,312) 48,974 (1,666,083) (1,646,003) 1,650,933
Fund balance - January 1 1,186,663 (129,808) 544,441 5,342,954 6,944,250 5,293,317
Fund balance - December 31 $1,191,081 ($163,120) $593,415 $3,676,871 $5,298,247 $6,944,250
The accompanying notes are an integral part of these financial statements.
10
CITY OF OAK PARK HEIGHTS, MINNESOTA
COMBINED STATEMENT OF REVENUE, EXPENDITURES AND Statement 3
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
GENERAL FUND
For The Year Ended December 31, 1999
With Comparative Actual Amounts For The Year Ended December 31, 1998
1999
Favorable
(Unfavorable) 1998
Budget Actual Variance Actual
Revenue:
General property taxes $1,325,000 $1,333,194 $8,194 $1,479,490
Intergovernmental 184,157 192,194 8,037 193,148
Licenses and permits 215,190 227,693 12,503 125,678
Charges for services 298,955 230,147 (68,808) 186,799
Fines and forfeits 60,150 58,886 (1,264) 60,183
Earnings on investments 52,000 36,970 (15,030) 45,848
Refunds and reimbursements 40,000 65,295 25,295 44,058
Donations and contributions - 365 365 500
Other - 3,087 3,087 6,413
Total revenue 2,175,452 2,147,831 (27,621) 2,142,117
Expenditures:
Current:
General government 698,415 772,729 (74,314) 774,444
Public safety 909,875 886,666 23,209 834,268
Public works 179,280 192,501 (13,221) 139,948
Sanitation - - -
Recreation 83,635 73,241 10,394 120,255
Community development 59,810 84,221 (24,411) 25,850
Capital outlay 44,600 40,055 4,545 32,005
Total expenditures 1,975,615 2,049,413 (73,798) 1,926,770
Revenue over (under) expenditures 199,837 98,418 (101,419) 215,347
Other financing sources (uses):
Operating transfers from other funds - - - 10,591
Operating transfers to other funds (168,000) (94,000) 74,000 (281,323)
Total other financing sources (uses) (168,000) (94,000) 74,000 (270,732)
Net increase (decrease) in fund balance $31,837 4,418 ($27,419) (55,385)
Fund balance - January 1 1,186,663 1,246,347
Residual equity transfer - (4,299)
Fund balance - December 31 $1,191,081 $1,186,663
The accompanying notes are an integral part of these financial statements.
11
CITY OF OAK PARK HEIGHTS, MINNESOTA
COMBINED STATEMENT OF REVENUE, EXPENSES AND Statement 4
CHANGES IN RETAINED EARNINGS
PROPRIETARY FUND TYPE
For The Year Ended December 31, 1999
With Comparative Amounts For The Year Ended December 31, 1998
Enterprise Fund
1999 1998
Operating revenue:
Customer billings $711,472 $611,537
Penalties 13,416 8,046
Plumbing permits 2,160 1,110
Meter sales 10,930 6,178
Charges for services 3,317 10,675
Total operating revenue 741,295 637,546
Operating expenses:
Personal services 236,017 147,827
Contractual services 202,271 391,076
Refunds and reimbursements 1,100 550
MCES charges 250,780 213,651
Materials and supplies 9,207 11,663
Administrative and personnel charges 80,655 63,525
Depreciation 120,930 118,696
Total operating expenses 900,960 946,988
Net income (loss) from operations (159,665) (309,442)
Other income:
Earnings on investments 27,060 32,091
Net income (loss) before operating transfers (132,605) (277,351)
Other financing sources (uses):
Operating transfer from other funds 65,000 190,400
Operating transfer to other funds (124,225) (115,753)
Total other financing sources (uses) (59,225) 74,647
Net income (loss) (191,830) (202,704)
Other increases:
Credit arising from transfer of depreciation to
contributions from property owners 109,225 107,253
Net increase (decrease) in retained earnings (82,605) (95,451)
Retained earnings - January 1 841,526 936,977
Retained earnings - December 31 $758,921 $841,526
The accompanying notes are an integral part of these financial statements.
12
CITY OF OAK PARK HEIGHTS, MINNESOTA
COMBINED STATEMENT OF CASH FLOWS - Statement 5
PROPRIETARY FUND TYPE
For The Year Ended December 31, 1999
With Comparative Amounts For The Year Ended December 31, 1998
Enterprise Fund
1999 1998
Cash flows from operating activities:
Operating income (loss) ($159,665) ($309,442)
Refund of prior SAC charges - -
Adjustments to reconcile operating income to
net cash flows from operating activities:
Depreciation 120,930 118,696
Change in assets and liabilities:
Decrease (increase) in receivables 46,277 (15,342)
Decrease (increase) in prepaid expenses (3,195) 817
Increase (decrease) in payables (22,696) 76,057
Net cash flows from operating activities (18,349) (129,214)
Cash flows from noncapital financing activities:
Operating transfers from other funds 65,000 190,400
Operating transfers to other funds (124,225) (107,253)
Net cash flows from noncapital financing activities (59,225) 83,147
Cash flows from capital and related financing activities:
Operating transfers to other funds - (8,500)
Acquisition of fixed assets (20,878) (7,216)
Net cash flows from capital and related financing activities (20,878) (15,716)
Cash flows from investing activities:
Interest received on investments 27,060 32,091
Net increase (decrease) in cash and cash equivalents (71,392) (29,692)
Cash and cash equivalents - January 1 508,312 538,004
Cash and cash equivalents - December 31 $436,920 $508,312
Significant noncash investing, capital and financing activities:
During 1998 and 1999, fixed assets were contributed to the Enterprise Fund as follows:
1999 1998
Water Operating Fund $187,914 $55,053
Sewer Operating Fund 250,931 43,917
Total $438,845 $98,970
The accompanying notes are an integral part of these financial statements.
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14
CI'T'Y OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 1999
Note 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The City of Oak Park Heights 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 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 , PORTING ENTITY
As required by generally accepted accounting principles, the financial statements of the reporting
entity include those of the City of Oak Park Heights (the primary government) and its component
units, entities 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 Units
The HRA of the City of Oak Park Heights is a separate legal entity which is authorized to expend
monies generated by the City's tax increment district. The City council also serve as HRA board
members. The transactions of the HRA are confined to the St. Croix Mall TIF Capital Project Fund.
Separate financial statements are not prepared for the HRA.
The EDA of the City of Oak Park Heights 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 finance director. Separate financial statements are not prepared
by the EDA.
B. FUND ACCOUNTING
The accounting system of the City is organized and operated on a fund basis. 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.
The following types of funds and account groups are employed by the City:
GOVERNMENTAL FUNDS
General Fund - to account for all financial resources except those required to be accounted for
in another fund.
15
CITY OF OAK PAID HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 1999
Special Revenue Funds - to account for the proceeds of specific revenue sources that are
legally restricted to expenditure for specified purposes.
Debt Service Funds - to account for the accumulation of resources for, and the payment of,
general long -term debt principal, interest, and related costs.
Capital Proiect Funds - to account for financial resources to be used for the acquisition or
construction of major facilities other than those financed by Proprietary Funds.
PROPRIETARY FUNDS
EnteWiise F unds -• to account for operations: (a) that are financed and operated in a manner
similar to private business enterprises -• where the intent of the governing body is that the
costs (expenses, including depreciation) of providing goods or services to the general public
on a continuing basis be financed or recovered primarily through user charges; or, (b) where
the governing body has decided that periodic determination of revenues earned, expenses
incurred, and /or net income is appropriate for capital maintenance, public policy,
management control, accountability, or other purposes.
FIDUCIA FUNDS
Agenev Funds - to account for assets held by a governmental unit in a trustee capacity or as
an agent for individuals, private organizations, other governmental units, and /or other funds.
ACCOUNT GROUPS
The governmental fund types are designed to account for the financial flow of a particular
fund; therefore, they generally include only current assets and current liabilities on their
balance sheets. The City maintains two account groups to account for noncurrent assets and
long -term liabilities as follows:
General Fixed Assets - The City maintains a separate account group which contains the fixed
assets used in the governmental fund type operations. They are assets of the City as a whole
and not of individual funds.
General Long -Term Debt - This account group contains the long -term obligations of the City
including general obligation bonds, certificates of indebtedness, contracts payable and
compensated absences payable. These long -term liabilities are expected to be financed by the
governmental funds.
16
CITY OF OAK PARIS HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 1999
C. BASIS OF ACCOUNTING
The accounting and reporting treatment applied to a fiord is determined by its measurement focus. All
governmental funds are accounted for on a current financial resources measurement focus. This
means that only current assets and current liabilities are generally included on their balance sheets.
Governmental fund operating statements present increases (revenues and other financing sources) and
decreases (expenditures and other financing uses) in net current assets.
All Proprietary Funds are accounted for on a flow of economic resources measurement focus. This
means that all assets and all liabilities (whether current or noncurrent) associated with this activity are
included on their balance sheets. Their reported fund equity (net total assets) is segregated into
contributed capital and retained earnings components. Proprietary fund type operating statements
present increases (revenues) and decreases (expenses) in net total assets.
The modified accrual basis of accounting is followed by the City for its Governmental Funds and
Agency Funds. 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. "Measurable" means the amount of the transaction can be
determined and "available" means collectible within the current period or soon enough thereafter to be
used to pay liabilities of the current period. Major revenue sources susceptible to accrual include
property taxes (excluding delinquent taxes received over 60 days after year end), special assessments,
intergovernmental revenues, charges for services and interest on investments. Major revenue sources
not susceptible to accrual include licenses and permits, fees, and miscellaneous revenues. Such
revenues are recorded as revenue when received because they are not measurable until collected.
Expenditures are generally recognized in the accounting period when the fund liability is incurred,
except for interest on general long -term debt which is recognized when due.
The accrual basis of accounting is followed for the Proprietary Funds. Under this method of
accounting, revenues are recognized during the accounting period in which they are earned and
become measurable and expenses are recognized in the accounting period in which they are incurred if
measurable. Governmental Accounting Standards Board (GASB) Statement #20, Accounting and
Financial Reporting for Proprietary Funds and Other Governmental Entities that Use Proprietary
Funds provides proprietary activities with a choice of authoritative guidance issued after November
30, 1989. The City of Oak Park Heights has elected to follow GASB pronouncements exclusively
after that date.
The government reports deferred revenue on its combined balance sheet. Deferred revenues arise
when a potential revenue does not meet both the "measurable" and "available" criteria for recognition
in the current period. Deferred revenues also arise when resources are received by the government
before it has a legal claim to them, as when grant monies are received prior to the incurrence of
qualifying expenditures. In subsequent periods, when both revenue recognition criteria are met, or
when the government has a legal claim to the resources, the liability for deferred revenue is removed
from the combined balance sheet and revenue is recognized.
17
CITE' OIL OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 1999
The City has reported as deferred revenues the amount of $1,839,489, which consists of the
following:
Unearned grants $1,020
Property taxes receivable 23,980
Special assessments receivable 1,813,859
Total $1,838,859
Do BUDGETS
Budgets are adopted on a basis consistent with generally accepted accounting principles. Annual
appropriated budgets are adopted for the General Fund. The City does not adopt a budget for the
Special Revenue Funds and accordingly the combined statement of revenue, expenditures and changes
in Bind balance - budget and actual (Statement 3) excludes amounts relating to these unbudgeted
funds.
Budgeted amounts are reported as originally adopted, or as amended by the City Council. Individual
amendments were not material in relation to the original appropriations which were adjusted.
Budgeted expenditure appropriations lapse at year end.
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.
18
CI'T'Y OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 1999
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.
'The following is a listing of General Fund departments whose expenditures exceed budget
appropriations:
Over
Budget Actual Budget
Mayor and council $52,650 $60,296 $7,646
City administrator 177,350 194,600 17,250
General management and building 49,850 78,366 28,516
Finance 112,060 129,719 17,659
Computer system 9,200 22,622 13,422
Insurance 159,800 165,725 5,925
Planning and zoning 35,000 43,704 8,704
Fire protection 80,000 83,019 3,019
Street maintenance 43,960 58,976 15,016
Snow removal 55,000 58,259 3,259
Street lighting 45,000 45,439 439
Community development 59,810 84,700 24,890
19
CITY OF DAIS PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 1999
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.
For purposes of the statement of cash flows the Enterprise Fund considers 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 Fund have original maturities of 90 days or less. Therefore the
entire balance in the fund is considered cash equivalents.
G. PROPERTY TAX REVENUE RE COGNITION
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.
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 the year end are classified as delinquent and due from County taxes receivable.
The portion of delinquent taxes not collected by the City in January is fully offset by deferred revenue
because it is not available to finance current expenditures.
The City's property tax revenue includes payments 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 commercial /industrial property
valuation growth since 1971. Property taxes paid to the City through this formula for 1999 and 1998
totaled $89,420 and $76,858, respectively. Receipt of property taxes from this "fiscal disparities pool"
does not increase or decrease total tax revenue.
20
CITY OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 1999
H. SPECIAL, ASSESSMENT + VENUE 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.
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. Special
assessments are collected by the County and remitted by December 31 (remitted to the City the
following January) and are also recognized as revenue for the current year. All remaining delinquent,
deferred and special deferred assessments receivable in governmental funds are completely offset by
deferred revenues.
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 and the first proceeds 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. 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.
1. INVENTORIES
Inventories are valued cost using the first -in /first -out (FIFO) method. The cost of certain
governmental fund type inventories are recorded as expenditures when consumed rather than when
purchased.
J. FIXED ASSETS
GENERAL FIXED ASSETS
General fixed assets are recorded as expenditures of the Governmental Funds at the time of purchase.
Such assets are capitalized at historical cost or estimated historical cost in the General Fixed Asset
Account Group. Public Domain ( "infrastructure ") general fixed assets consisting of roads, bridges,
curbs, gutters, streets, sidewalks, drainage systems and lighting systems are excluded from general
fixed assets as these assets are immovable and of value only to the City. 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. Interest incurred during construction is not capitalized on general
fixed assets.
21
CITE' OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 1999
PROPRIETARY FUNDS
Fixed assets of the Proprietary Funds are stated at historical cost, estimated historical 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:
Buildings and structures 50 years
Equipment and machinery 3 -20 years
Distribution and collection systems 50 years
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.
CAPITALIZATION OF INTEREST
In accordance with FASB Statement 62, the City adopted the policy of capitalizing net interest costs
on funds borrowed to finance the construction of Proprietary Fund fixed assets. The City did not
borrow to finance the construction of Proprietary Fund fixed assets in 1998 or 1999.
K. COMPENSATED ABSENCES
It is the City's policy to permit employees to accumulate earned but unused vacation and sick pay
benefits. No liability is recorded for unpaid accumulated sick leave, except that portion that is payable
as severance. Vested or accumulated vacation leave and other benefit amounts that are expected to be
liquidated with expendable available financial resources are reported as an expenditure and a fund
liability of the governmental fund that will pay them. Amounts that are not expected to be liquidated
with expendable available financial resources are reported in the General Long -Term Debt Account
Group. No expenditure is reported for these amounts.
22
CI'T'Y OF DAIS PARIS HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 1999
L. LONG-TERM OBLIGATIONS
Long -term debt is recognized as a liability of a governmental fund when due, or when resources have
been accumulated in the Debt Service Fund for payment early in the following year. For other long-
term obligations, only that portion expected to be financed from expendable available financial
resources is reported as a fund liability of a governmental fund. The remaining portion of such
obligations is reported in the General Long -Term Debt Account Group. Long -term liabilities expected
to be financed from proprietary fund operations are accounted for in those funds.
M. FUND EQUITY
Contributed capital is recorded in Proprietary Funds that have received capital grants or contributions
from developers, customers or other funds. Reserves represent those portions of fund equity not
appropriable for expenditure or legally segregated for a specific future use. Designated fund balances
represent tentative plans for future use of financial resources.
N. INTERFUND TRANSACTIONS
Quasi - external transactions 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.
All other interfund transactions, except quasi - external transactions and reimbursements, are reported as
transfers. Nonrecurring or nonroutine permanent transfers of equity are reported as residual equity
transfers. All other interfund transfers are reported as operating transfers.
O. MEMORANDUM ONLY - TOTAL COLUMNS
Total columns on the General Purpose Financial Statements are captioned "Memorandum Only" to
indicate that they are presented only to facilitate financial analysis. Data in these columns do not
present financial position, results of operations or changes in cash flow in conformity with generally
accepted accounting principles. Neither are such data comparable to a consolidation. Interfund
eliminations have not been made in the aggregation of this data.
P. 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.
23
CITY OF OAK PARIS HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 1999
Note 2 DEPOSITS AND INVESTMENTS
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
(140% in the case of mortgage notes pledged).
Authorized collateral includes the legal investments described below, as well as certain first mortgage
notes, and certain other state or local government obligations. 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.
Balances at December 31, 1999 are as follows:
Bank Carrying
Balances Amount
1) Insured or collateralized by securities held by the City
or its agent in the City's name. $5,414,185 $5,323,547
2) Collateralized with securities held by the pledging institution
trust department in the City's name.
3) Uncollateralized or collateralized with securities
not in the City's name. -
Totals $5,414,185 $5,323,547
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.
24
CI'T'Y OF OAK PARK HEIGHTS, MINNESO'T'A
NOTES TO FINANCIAL STATEMENTS
December 31, 1999
c) General obligations of the State of Minnesota or any of its municipalities.
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.
Balances at December 31, 1999 were:
Carrying
Custodial Credit Risk category Amount
Securities Type _ _ 1 2 3 (at Fair Value)
U.S. Government and Agency Securities $100,000 $ - $ a $100,000
Investments not subject to credit risk categorization:
Investment company shares 268,867
Total investment 368,867
Deposits 5,323,547
Total deposits and investments 5,692,414
Change funds 100
Total $5,692,514
The City's investments are categorized above to give an indication of the level of custodial credit risk
assumed at year end. Category 1 includes investments that are insured or registered or for which the
securities are held by the City or its agent in the City's name. Category 2 includes uninsured or
unregistered investments for which the securities are held by the counterparty's trust department or agent in
the City's name. Category 3 includes uninsured and unregistered investments for which the securities are
held by the counterparty or by its trust department or agent but not in the City's name.
25
CITE' OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 1999
Note 3 FIXED ASSETS
• summary of changes in general fixed assets is as follows:
Balance Balance
01/01/1999 Additions Deletions 12/31/1999
Land $482,859 $ $ - $482,859
Land improvements 326,601 - - 326,601
Buildings and structures 1,023,197 115,782 - 1,138,979
Machinery and equipment 323,531 124,212 28,849 418,894
Furniture and fixtures 295,214 63,886 36,214 322,886
Totals $2,451,402 $303,880 $65,063 $2,690,219
• summary of Enterprise Fund fixed assets at December 31, 1999 is as follows:
Enterprise
Land $60,000
Buildings and structures 1,254,845
Machinery and equipment 162,707
Distribution and collection systems 4,872,289
Total 6,349,841
Less: allowance for depreciation 0 2 703,8 89)
Net fixed assets $4,645,952
26
CITY OF OAK PARIS HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 1999
Note 4 CI'T'Y INDEBTEDNESS
The following is a schedule of changes in City indebtedness for the year ended December 31, 1999:
Balance Balance
01/01/99 Additions Deletions 12/31/99
General Long -Term Debt Account Group:
Bonded debt:
General obligation $950,000 $ - $115,000 $835,000
Special assessment bonds 2,830,000 - 260,000 2,570,000
Compensated absences 76,617 26,341 - 102,958
Total general long-term debt 3,856,617 26,341 375,000 3,507,958
Proprietary funds:
Compensated absences 13,389 9,598 - 22,987
Totals $3,870,006 $35,939 $375,000 $3,530,945
All longterm bonded indebtedness outstanding at December 31, 1998 is backed by the full faith and credit of
the City, including special assessment bond issues. Delinquent assessments receivable at December 31, 1999
totaled $4,704.
The annual requirement to amortize all debt outstanding at December 31, 1999 including interest payments of
$850,285 is as follows:
Year General
Ending Obligation
Decem 31, .
2000 $539,688
2001 503,352
2002 507,768
2003 495,967
2004 468,493
2005 -2013 1,740,017
Total $4,255,285
It is not practicable to determine the specific year for payment of long -term accrued compensated absences.
27
CITE' OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 1999
Long -term debt at December 31, 1999 is composed of the following:
Final Authorized
Issue Maturity Interest And Outstanding
Date Date Rate Issued 12/31/99
General Long -Term Debt:
General obligation bonds:
G.O. Refunding Bonds of 1992 09/01/92 12/01/00 5.48 $150,000 $25,000
G.O. Crossover Refunding Bonds of 1993 04/01/93 12/01/06 4.71 1,140,000 810,000
Special assessment bonds:
G.O. Improvement Bonds of 1995 07/01/95 12/01/05 4.69 1,130,000 720,000
G.O. Improvement Bonds of 1998 10/01/98 12/01/13 4.19 1,990,000 1,850,000
Compensated absences payable 125,945
Total general long -term debt $3,530,945
28
CITY OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 1999
Note 5 LEGAL DEBT MARGIN
The City is subject to a statutory limitation by the State of Minnesota for bonded indebtedness payable
principally from property taxes. The City's legal debt margin for 1998 and 1999 is computed as follows:
December 31,
1999 1998
Market value (for pay 1999 or 1998) $274,454,600 $238,211,800
Debt limit percentage 2.00% 2.00 %
Debt limit 5,489,092 4,764,236
Amount of debt applicable to debt limit:
Total bonded debt 3,405,000 3,780,000
Less:
Non applicable debt:
Revenue bonds (810,000) (900,000)
Special assessment bonds (2,570,000) (2,830,000)
Cash and investments in
corresponding Debt Service Funds (31,193) (31,850)
Total amount of debt applicable to debt limit (6,193) 18,
Legal debt margin $5,495,285 $4,746,086
Note 6 PENSION PLANS
A. PLAN DESCRIPTION
All full -time and certain part -time employees of the City of Oak Park Heights are covered by defined
benefit plans administered by the Public Employees Retirement Association of Minnesota (PERA).
PERA administers the Public Employees Retirement Fund (PERT) and the Public Employees Police
and Fire Fund (PEPFF) which are cost - sharing, multiple - employer retirement plans. These plans are
established and administered in accordance with Minnesota Statute, Chapters 353 and 356.
PERF 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. All new members must participate in
the Coordinated Plan. All police officers, firefighters and peace officers who qualify for membership
by statute are covered by the PEPFF.
29
CITY OF OAK PARIS HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 1999
PERA provides retirement benefits as well as disability benefits to members, and benefits to survivors
upon death of eligible members. Benefits are established by State Statute, and vest after three years of
credited service. The defined retirement benefits are based on a member's highest average salary for
any five successive years of allowable set vice, age, and years of credit at termination of set
PERA issues a publicly available financial report that includes financial statements and required
supplementary information for PERF and PEPFF. That report may be obtained by writing to PERA,
514 St. Peter Street #200, St. Paul, Minnesota, 55102 or by calling (651)296 -7460 or 1-800-652-9026.
B. FUNDING POLICY
Minnesota Statutes Chapter 353 sets the rates for employer and employee contributions. These
statutes are established and amended by the state legislature. The City makes annual contributions to
the pension plans equal to the amount required by state statutes. PERF Basic Plan members and
Coordinated Plan members are required to contribute 8.75% and 4.75 %, respectively, of their annual
covered salary. PEPFF members are required to contribute 6.20% of their annual covered salary. The
City of Oak Park Heights is required to contribute the following percentages of annual covered
payroll: 11.43% for Basic Plan PERF members, 5.18% for Coordinated Plan PERF members, and
9.30% for PEPFF members. The City's contributions to the Public Employees Retirement Fund for
the years ending December 31, 1999, 1998 and 1997 were $28,355, $19,695 and $14,070,
respectively. The City's contributions to the Public Employees Police and Fire Fund for the years
ending December 31, 1999, 1998 and 1997 were $52,788, $54,602 and $48,046, respectively. The
City's contributions were equal to the contractually required contributions for each year as set by state
statute.
Note 7 METROPOLITAN COUNCIL ENVIRONMENTAL SERVICES
During 1971, 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 interceptor sewer lines and
treatment facilities were transferred from the cities to the MWCC in exchange for future credits. The MWCC
merged with the Metropolitan Council during 1994 to form Metropolitan Council Environmental Set
(MCES).
The MCES 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 succeeding calendar year and payable by the City in the second succeeding calendar 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). The MCES changed their billing methods effective January 1,
1998. The MCES now bills on a quarterly basis based on normalized flows with a two quarter delay in flow
determination. The 1999 bills reflect the actual cost adjustment for 1997 estimated billings.
30
CITY OF OAK PARIS HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 1999
Future credits and deferred charges are not reflected in these financial statements, as these credits will be offset
by annual charges as detailed above. The amounts of these credits at December 31, 1999 and 1998 were as
follows:
December 31,
1999 1998
Current value credits $0 $67
Note , CONCILIATION OF CONTRIBUTED CAPITAL
Changes to contributed capital during the year are as follows:
Depreciation
Beginning Capital on Contributed Ending
Balance Contributions Assets Balance
Water $2,395,595 $187,914 $61,908 $2,521,601
Sewer 1,678,280 250,931 47,317 1,881,894
Total $4,073,875 $438,845 $109,225 $4,403,495
Note 9 TAX INCREMENT DISTRICTS
The City established an economic development district, "St. Croix Mall Tax Increment District," on August 7,
1989. This district was decertified during 1999.
Taxes
Payable
in 1999
Current net tax capacity $237,095
Original net tax capacity (as adjusted) (206,715)
Retained captured net tax capacity $30,380
31
CI'T'Y OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 1999
Note 10 SPECIAL TAXING DISTRICT
The City Council of Oat Park Heights established Storm Sewer Improvement Tax District No. 1 pursuant to
Minnesota Statutes, Section 444.17 and Ordinance No. 1600 adopted by the City on October 12, 1982.
Financing of the construction costs for establishment of this district was originally provided by issuing the
$205,000 General Obligation Storm Sewer Bonds of 1982. These bonds were entirely refunded in 1992 by the
$150,000 G.O. Refunding Bonds of 1992. The refunding bonds mature in 2000. To provide monies for
payment of the principal and interest on the bonds, the City levied upon all taxable property in the Storm Sewer
Improvement Tax District an ad valorem tax. The levy is to be spread for collection in years 1995 to 2000.
The original scheduled levies totaled $198,000.
Note 11 DEFICIT FUND BALANCES /RETAINED EARNINGS
The following funds had a fund deficit at December 31, 1999:
Amount
Special Revenue:
Economic Development $167,244
Capital Project:
Central Business District 12,770
Brackey - Oak Park Pond 22,390
Kern Center 29,835
Osgood Highway 36 Intersection 7,666
Dote 12 CONTINGENCIES
A. LITIGATION
The City attorney has indicated that existing and pending lawsuits, claims and other actions in which
the City is a defendant are either covered by insurance, of an immaterial amount; or in the judgment of
the City attorney, remotely recoverable by plaintiffs.
32
CITY OF OAK (PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 1999
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 is 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, 1999.
C. TAX INCRE MENT DISTRICTS
The City's tax increment districts are subject to review by the State of Minnesota Office of the State
Auditor (OSA). Any disallowed claims or misuse of tax increments could become a liability of the
applicable fund. Management has indicated that they are not aware of any instances of noncompliance
which would have a material effect on the financial statements.
Note 13 DEFERRED AD VALOREM TAX LEVIES -• BONDED DEBT
General Obligation bond issues sold by the City are financed by ad valorem tax levies in addition to special
assessments levied against the benefiting properties. When a bond issue to be financed partially or completely
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. The future tax
levies are subject to cancellation when and if the City has provided alternative sources of financing. The City
Council is required to levy any additional taxes found necessary for full payment of principal and interest.
These future scheduled tax levies are not shown as assets in the accompanying financial statements. Future
scheduled tax levies for all bonds outstanding at December 31, 1999 totaled $359,400.
33
CITY OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 1999
Note 14 DESIGNATIONS AND RE SERVATIONS OF FUND EOIIITY
At December 31, 1999 and 1998 the City had designated and reserved portions of its various fund equities
through legal restriction and City Council authorization. Major fund equity appropriations at December 31,
1999 and 1998 are shown on the various balance sheets as segregations of the fund equity. A summary of such
designations is as follows:
December 31,
1999 1998
General Fund:
Reserved for inventory $ - $2,624
Designated for cash flow 733,000 702,000
Designated for contingent employee benefit 135,153 101,617
Designated for general contingency 285,526 326,000
Designated for capital improvements 12,011 6,204
Designated for employee insurance benefits 25,391 25,091
Special Revenue Funds:
Reserved for interfund loan receivable 10,313 -
Designated for special revenue program 4,124 3,242
Debt Service Funds:
Reserved for debt service 593,415 544,441
Capital Project Funds:
Reserved for interfund loan receivable 260,000 260,000
Designated for capital improvements 3,372,934 5,080,647
Designated for committed contracts 116,598 27,563
Enterprise Fund:
Reserved for debt service reserve 661,765 661,765
Totals $6,210,230 $7,741,194
34
CITY OF OAK PARK HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 1999
Note 15 COMMITMENTS
Construction commitments at December 31, 1999 were composed of the following:
Expended Remaining
Contract as of Contract
Description Authorized 12/31/99 Commitment
57th Street Oakgreen Extention $255,339 $207,774 $47,565
Fern Center 804,178 777,125 27,053
58th Street Improvement Phase 1II 789,016 649,874 139,142
Boutwells Landing 1,232,093 923,003 309,090
Note 16 MAJOR TAXPAYER
The City has one major taxpayer, Northern States Power, the total tax capacity value for this taxpayer
represented approximately 55% of the City's total tax capacity value for taxes payable in 1998.
Note 17 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. For employee health
insurance coverage, the City has a deductible of $10,000 per employee with a $151,578 annual maximum.
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.
35
CITE' OF OAK PARIS HEIGHTS, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 1999
Note 13 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, 1999, there were four series of Industrial Revenue Bonds outstanding. The principal
amount payable at December 31, 1999 was $38 million.
Note 19 INTERF'UND LOANS
There were interfund loans receivable and payable at December 31, 1999 as follows:
Fund Receivable Payable
Economic development $10,313 $260,000
Capital revolving fund 260,000 -
Central Business District - 10,313
Total $270,313 $270,313
The $260,000 loan will be repaid from yet undetermined sources by July 1, 2003. The $10,313 loan will be repaid
from yet undetermined sources, and does not have a due date.
36
COMBINING,
INDIVIDUAL FUND
AND ACCOUNT GROUP
FINANCIAL STATEMENTS
37
CITY OF ®AID PARK HEIGHTS, MINNESOTA
GENERAL FUND Statement 6
BALANCE SHEET
December 31, 1999
With Comparative Amounts for December 31, 1998
December 31,
Assets 1999 1998
Cash and investments $1,172,829 $1,163,632
Accounts receivable 8,124 18,246
Accounts receivable - certified 906 521
Due from other governmental units 37,531 23,326
Inventory - 2,624
"faxes receivable:
Delinquent 22,952 16,077
Due from County 17,061 39,147
Total assets $1,259,403 $1,263,573
Liabilities and Fund Balance
Liabilities:
Accounts payable $34,602 $47,412
Salaries payable 1,918 6,311
Due to other governmental units 7,830 6,090
Deferred revenue 23,972 17,097
Total liabilities 68,322 76,910
Fund balance:
Reserved for inventory - 2,624
Unreserved:
Designated for cash flow 733,000 702,000
Designated for contingent employee benefit 135,153 101,617
Designated for general contingency 285,526 326,000
Designated for capital improvements 12,011 6,204
Designated for employee insurance benefits 25,391 25,091
Undesignated - 23,127
Total fund balance 1,191,081 1,186,663
Total liabilities and fund balance $1,259,403 $1,263,573
38
CITY OF OAK PARK HEIGHTS, MINNESOTA
GENERAL FUND Statement 7
STATEMENT OF REVENUE, EXPENDITURES AND CHANGES Pagel of 5
IN FUND BALANCE - BUDGET AND ACTUAL
For The Year Ended December 31, 1999
With Comparative Actual Amounts for the Year Ended December 31, 1998
1999
Favorable
(Unfavorable) 1998
Budget Actual Variance Actual
Revenue:
General property taxes:
Current and delinquent $1,325,000 $1,315,529 ($9,471) $1,462,506
Payment in lieu of taxes - 11,778 11,778 10,723
Excess TIF _ 5,808 5,808 6,204
Othertaxes - 79 79 57
Total general property taxes 1,325,000 1,333,194 8,194 1,479,490
Intergovernmental:
Federal:
Safe and Sober - - - 6,153
Cops Grant 35,000 36,022 1,022 26,159
FEMA - - 8,109
Underage Compliance Checks - 780 780 -
State:
HACA 74,983 74,983 - 74,464
Local Performance aid 4,884 4,884 - 5,133
Police aid 50,000 53,446 3,446 48,350
Police training aid - 2,963 2,963 2,848
Disaster aid - 1,559 1,559 -
Other 2,040 2,040 - 2,689
County:
Recycling grant 16,500 14,691 (1,809) 14,691
Gravel tax allocation 750 826 76 223
Met Council planning grant - - - 4,329
Total intergovernmental 184,157 192,194 8,037 193,148
Licenses and permits 215,190 227,693 12,503 125,678
Charges for services:
General government 2,700 14,767 12,067 14,910
Development charge 9,000 9,000 - 12,000
Refuse charge - Junker settlement 31,600 25,718 (5,882) 28,887
Inspections - City of Bayport 25,000 36,122 11,122 40,468
Administrative - Enterprise Fund 80,655 80,655 - 63,525
Administrative - TIF 50,000 7,253 (42,747) 27,009
Administrative - Construction 100,000 56,632 (43,368) -
Total charges for services 298,955 230,147 (68,808) 186,799
Fines and forfeits 60,150 58,886 (1,264) 60,183
Earnings on investments 52,000 36,970 (15,030) 45,848
Refunds and reimbursements 40,000 65,295 25,295 44,058
Donations and contributions - 365 365 500
Sale of property - 3,087 3,087 6,413
Total revenue 2,175,452 2,147,831 (27,621) 2,142,117
39
CITE' OF OAK PARK HEIGHTS, MINNESOTA
GENERAL FUND Statement 7
STATEMENT OF REVENUE, EXPENDITURES AND CHANGES Page 2 of 5
IN FUND BALANCE - BUDGET AND ACTUAL
For The Year Ended December 31, 1999
With Comparative Actual Amounts for the Year Ended December 31, 1998
1999
Favorable
(Unfavorable) 1998
Budget Actual Variance Actual
Expenditures:
General government:
Mayor and council:
Current:
Personal services $32,500 $35,439 ($2,939) $30,097
Materials and supplies 1,800 1,247 553 3,249
Contractual set 18,350 22,663 (4,313) 19,223
Total current 52,650 59,349 (6,699) 52,569
Capital outlay - 947 (947) -
Total mayor and council 52,650 60,296 (7,646) 52,569
City administrator:
Current:
Personal services 161,000 169,954 (8,954) 142,760
Materials and supplies 3,150 3,416 (266) 6,855
Contractual services 12,200 19,756 (7,556) 21,331
'Total current 176,350 193,126 (16,776) 170,946
Capital outlay 1,000 1,474 (474) 809
Total City administrator 177,350 194,600 (17,250) 171,755
Legal:
Current:
Personal services 32,000 23,337 8,663 33,436
General management and building:
Current:
Personal services 1,700 - 1,700 9,621
Materials and supplies 7,000 11,688 (4,688) 23,158
Contractual set-vices 41,150 65,013 (23,863) 61,006
Total current 49,850 76,701 (26,851) 93,785
Capital outlay - 1,665 (1,665) 1,098
Total general management and building 49,850 78,366 (28,516) 94,883
Elections:
Current:
Personal services - - _ 3,258
Materials and supplies - - _ 408
Contractual set 800 - 800 520
Total elections 800 0 800 4,186
Finance:
Current:
Personal services 107,160 125,260 (18,100) 82,777
Materials and supplies 1,550 1,811 (261) 1,095
Contractual services 2,850 2,401 449 1,798
Total current 111,560 129,472 (17,912) 85,670
Capital outlay 500 247 253 327
Total finance 112,060 129,719 (17,659) 85,997
40
CI'T'Y OF OAK PARK HEIGHTS, MINNESOTA
GENERAL FUND Statement 7
STATEMENT OF REVENUE, EXPENDITURES AND CHANGES Page 3 of 5
IN FUND BALANCE - BUDGET AND ACTUAL
For The Year Ended December 31, 1999
With Comparative Actual Amounts for the Year Ended December 31, 1998
1999
Favorable
(Unfavorable) 1998
Budget Actual Variance Actual
Expenditures: (continued)
General government: (continued)
Computer system:
Current:
Materials and supplies $200 $457 ($257) $53
Contractual services 9,000 22,165 (13,165) 3,206
Total computer system 9,200 22,622 (13,422) 3,259
Audit:
Current:
Personal services 11,600 7,141 4,459 14,379
Materials and supplies 105 - 105 70
Total audit 11,705 7,141 4,564 14,449
Insurance:
Current:
Contractual services 159,800 165,725 (5,925) 154,006
Assessing:
Current:
Personal services 17,000 16,735 265 14,377
Planning and zoning:
Current:
Personal services 35,000 43,664 (8,664) 88,822
Materials and supplies - - - 16
Contractual services - 40 (40) -
Total planning and zoning 35,000 43,704 (8,704) 88,838
Engineering:
Current:
Personal services 30,000 29,421 579 53,986
General contingency:
Current:
Contractual services 12,500 5,396 7,104 4,937
Total general government 699,915 777,062 (77,147) 776,678
Public safety:
Police department:
Current:
Personal services 661,500 655,095 6,405 625,167
Materials and supplies 29,000 25,038 3,962 22,277
Contractual services 39,725 34,430 5,295 40,255
Total cut 730,225 714,563 15,662 687,699
Capital outlay 31,500 31,053 447 29,442
Total police department 761,725 745,616 16,109 717,141
41
CITE' OF OAK PARK HEIGHTS, MINNESOTA
GENERAL FUND Statement 7
STATEMENT OF REVENUE, EXPENDITURES AND CHANGES Page 4 of 5
IN FUND BALANCE - BUDGET AND ACTUAL
For The Year Ended December 31, 1999
With Comparative Actual Amounts for the Year Ended December 31, 1998
1999
Favorable
(Unfavorable) 1998
Budget Actual Variance Actual
Expenditures: (continued)
Building inspections:
Current:
Personal services $91,450 $78,841 $12,609 $74,063
Materials and supplies 1,850 1,822 28 1,138
Contractual services 5,250 7,451 (2,201) 3,132
Total building inspections 98,550 88,114 10,436 78,333
Fire protection:
Current:
Contractual services 78,000 80,740 (2,740) 67,680
Materials and supplies 2,000 2,279 (279) -
Total fire protection 80,000 83,019 (3,019) 67,680
Animal control:
Current:
Materials and supplies 100 50 50 155
Contractual services 1,000 920 80 401
Total animal control 1,100 970 130 556
Total public safety 941,375 917,719 23,656 863,710
Public works:
Street maintenance:
Current:
Personal services 21,800 27,298 (5,498) -
Materials and supplies 2,810 3,831 (1,021) 2,053
Contractual services 19,350 24,421 (5,071) 19,603
Total current 43,960 55,550 (11,590) 21,656
Capital outlay - 3,426 (3,426) -
Total street maintenance 43,960 58,976 (15,016) 21,656
Snow removal:
Current:
Materials and supplies - 606 (606) -
Conti•actual services 55,000 57,653 (2,653) 49,211
Total snow removal 55,000 58,259 (3,259) 49,211
Street lighting:
Current:
Contractual services 45,000 45,439 (439) 46,144
Arborist:
Current:
Personal services 11,570 11,410 160 7,838
Contractual services 150 8 142 7
Materials and supplies 100 113 (13) 66
Total arborist 11,820 11,531 289 7,911
4.2
CITY OF OAK PARK HEIGHTS, MINNESOTA
GENERAL FUND Statement 7
STATEMENT OF REVENUE, EXPENDITURES AND CHANGES Page 5 of 5
IN FUND BALANCE - BUDGET AND ACTUAL
For The Year Ended December 31, 1999
With Comparative Actual Amounts for the Year Ended December 31, 1998
1999
Favorable
(Unfavorable) 1998
Budget Actual Variance Actual
Expenditures: (continued)
Tree removal and planting:
Current:
Contractual services $23,500 $21,722 $1,778 $15,026
Total public works 179,280 195,927 (16,647) 139,948
Recreation:
Parks, playgrounds and rinks:
Current:
Personal services 48,675 47,110 1,565 91,825
Materials and supplies 2,585 4,307 (1,722) 4,007
Contractual services 32,375 21,824 10,551 24,423
Total cuff ent 83,635 73,241 10,394 120,255
Capital outlay 11,600 764 10,836 223
Total recreation 95,235 74,005 21,230 120,478
Community development:
Current:
Personal services 57,010 70,994 (13,984) 21,903
Contractual services 1,300 7,127 (5,827) 2,734
Materials and supplies 1,500 6,100 (4,600) 1,213
Total current 59,810 84,221 (24,411) 25,850
Capital outlay - 479 (479) 106
Total community development 59,810 84,700 (24,890) 25,956
Total expenditures 1,975,615 2,049,413 (73,798) 1,926,770
Revenue over (under) expenditures 199,837 98,418 (101,419) 215,347
Other financing sources (uses):
Operating transfers from Capital Project Fund - - - 10,591
Operating transfers to Enterprise Fund (65,000) (65,000) - (190,400)
Operating transfers to Capital Project Fund (103,000) (29,000) 74,000 (90,923)
Total other financing sources (uses) (168,000) (94,000) 74,000 (270,732)
Net increase (decrease) in fund balance $31,837 4,418 ($27,419) (55,385)
Fund balance - January 1 1,186,663 1,246,347
Residual equity transfer - (4,299)
Fund balance - December 31 $1,191,081 $1,186,663
43
CITE' OF OAK PARK HEIGHTS, MINNESOTA
SPECIAL REVENUE FUNDS Statement 8
COMBINING BALANCE SHEET
December 31, 1999
With Comparative Amounts For December 31, 1998
Forfeiture
and Economic Totals
Seizure Development 1999 1998
Assets
Cash and investments $4,124 $82,443 $86,567 $130,192
Interfund loan receivable - 10,313 10,313 -
Total assets $4,124 $92,756 $96,880 $130,192
Liabilities and Fund Balance
Liabilities:
Interfund loan payable $ - $260,000 $260,000 $260,000
Fund balance:
Reserved for interfund loan receivable - 10,313 10,313 -
Unreserved:
Designated for special revenue programs 4,124 - 4,124 3,242
Undesignated - (177,557) (177,557) (133,050)
Total fund balance 4,124 (167,244) (163,120) (129,808)
Total liabilities and fund balance $4,124 $92,756 $96,880 $130,192
44
CITE' OF OAK PARK HEIGHTS, MINNESOTA
SPECIAL REVENUE FUNDS Statement 9
COMBINING STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE
For The Year Ended December 31, 1999
With Comparative Amounts For The Year Ended December 31, 1998
Forfeiture
and Economic _ Totals
Seizure Development 1999 1998
Revenue:
Intergovernmental - federal block grant $ - $ - $ - $7,220
Earnings on investments 214 5,527 5,741 4,064
Interfund loan interest - 313 313 -
Refunds and reimbursements - - - 2,531
Confiscated property 2,649 - 2,649 1,850
Sale of municipal property 1,305 76 1,381 -
Total revenue 4,168 5,916 10,084 15,665
Expenditures:
Public safety:
Current:
Materials and supplies - - - 1,012
Contractual services 977 - 977 13
Capital outlay 2,309 - 2,309 19,653
Community development:
Current:
Materials and supplies - 450 450 7
Contractual services - 19,660 19,660 7,614
Interfund loan interest - 20,000 20,000 10,000
Capital outlay - - - 121,500
Total expenditures 3,286 40,110 43,396 159,799
Revenue over (under) expenditures 882 (34,194) (33,312) (144,134)
Fund balance - January 1 3,242 (133,050) (129,808) 14,326
Fund balance - December 31 $4,124 ($167,244) ($163,120) ($129,808)
45
CITY OF OAK PARK HEIGHTS, MINNESOTA
DEBT SERVICE FUNDS Statement 10
COMBINING BALANCE SHEET
December 31, 1999
With Comparative Totals For December 31, 1998
G.O.
Revenue
Bonds of 1991/
Crossover G.O. G.O
G.O. Refunding Refunding Improvement Improvement
Bonds of 1992 Bonds Bonds Bonds Totals
(Storm Sewer) of 1993 of 1995 of 1998 1999 1998
Assets
Cash and investments $31,193 $282,630 $219,659 $22,004 $555,486 $541,554
Accounts receivable - - - 35,454 35,454 -
Taxes receivable:
Delinquent 201 - 827 - 1,028 786
Due from County 265 e 633 e 898 2,243
Special assessments:
Delinquent m 2,270 1,410 - 3,680 3,476
Deferred m m 214,574 1,224,999 1,439,573 277,800
Due from County - - 1,577 - 1,577 644
Total assets $31,659 $284,900 $438,680 $1,282,457 $2,037,696 $826,503
Liabilities and Fund Balance
Liabilities:
Deferred revenue $201 $2,270 $216,811 $1,224,999 $1,444,281 $282,062
Fund balance:
Reserved for debt service 31,458 282,630 221,869 57,458 593,415 544,441
Total liabilities and fund balance $31,659 $284,900 $438,680 $1,282,457 $2,037,696 $826,503
46
CITE' OF OAK PARK HEIGHTS, MINNESOTA
DEBT SERVICE FUNDS Statement 11
COMBINING STATEMENT OF REVENUE, EXPENDITURES AND
CHANGES IN FUND BALANCE
For The Year Ended December 31, 1999
With Comparative Totals For The Year Ended December 31, 1998
G.O.
Revenue
Bonds of 1991/
Crossover G.0 G.O.
G.O. Refunding Refunding Improvement Improvement
Bonds of 1992 Bonds Bonds Bonds Totals
(Storm Sewer) of 1993 of 1995 of 1998 1999 1998
Revenue:
General property taxes:
Current and delinquent $ - $ - $59,001 $ - $59,001 $59,026
Storm sewer ad valorem taxes:
Current and delinquent 24,759 _ _ - 24,759 25,349
Special assessments:
Current and delinquent - - 57,539 - 57,539 63,398
Prepayments - - 23,541 240,000 263,541 14,812
Penalties and interest 2 _ 209 - 211 311
Earnings on investments 1,874 13,263 12,866 384 28,387 29,859
Connection charge - - - 35,454 35,454 -
Total revenue 26,635 13,263 153,156 275,838 468,892 192,755
Expenditures:
Professional and consulting services - - - 1,422 1,422 -
Debt service:
Principal 25,000 90,000 120,000 140,000 375,000 215,000
Interest 2,700 42,690 39,420 93,686 178,496 93,905
Total expenditures 27,700 132,690 159,420 235,108 554,918 308,905
Revenue over (under) expenditures (1,065) (119,427) (6,264) 40,730 (86,026) (116,150)
Other financing sources:
Bond proceeds _ - - - 16,507
Transfer from Capital Project Fund - 135,000 _ - 135,000 125,000
Total other financing sources 0 135,000 0 0 135,000 141,507
Net increase (decrease) in fund balance (1,065) 15,573 (6,264) 40,730 48,974 25,357
Fund balance - January 1 32,523 267,057 228,133 16,728 544,441 519,084
Fund balance - December 31 $31,458 $282,630 $221,869 $57,458 $593,415 $544,441
47
CITY OF OAK PARK HEIGHTS, MINNESOTA
CAPITAL PROJECT FUNDS
COMBINING BALANCE SHEET
December 31, 1999
With Comparative Totals For December 31, 1998
Budgeted
Projects
and 57th Street/ Osgood/
Capital Equipment Oakgreen Highway 36
Revolving Fund Revolving Extension Intersection
Assets
Cash and investments $53,813 $35,715 $36,985 $ -
Accounts receivable - other 5 - -
Interfund loan receivable 260,000
Due from developers - -
Special assessments receivable:
Delinquent 1,024 - -
Deferred 319,582 - -
Special deferred - - -
Due from County 21,610 - -
Total assets $656,034 $35,715 $36,985 $0
Liabilities and Fund Balance
Liabilities:
Cash overdraft $ - $ - $ - $7,666
Interfund loan payable - - -
Escrow deposits payable - -
Accounts payable - - 3,200
Contracts payable - - 10,389 -
Due to other governments - - -
Deferred revenue 320,606 -• - -
Total liabilities 320,606 0 13,589 7,666
Fund balance:
Reserved for interfand loan receivable 260,000 - - -
Unreserved:
Designated for capital improvement 75,428 35,715 -
Designated for committed contracts - - 23,396 -
Undesignated - - - (7,666)
Total fund balance 335,428 35,715 23,396 (7,666)
Total liabilities and fund balance $656,034 $35,715 $36,985 $0
48
Statement 12
Page 1 of 2
St. Croix Central
Superamerica Park Mall Street East Oaks Renewal and Business
Valvoline Oil Development (TIF) Reconstruction Swager Replacement District
$10,028 $385,245 $95,034 $336,347 $2 $1,451,052 $
- - - 93 -
$10,028 $385,245 $95,034 $336,347 $95 $1,451,052 $0
$ - $ - $ - $ - $ - $ $2,457
n _ _ _ 10,313
9,347 - _ - _ _
_ 68
9,347 0 68 0 0 0 12,770
681 385,245 94,966 336,347 95 1,451,052
_ _ _ _ _ - (12,770)
681 385,245 94,966 336,347 95 1,451,052 (12,770)
$10,028 $385,245 $95,034 $336,347 $95 $1,451,052 $0
49
CITE' OF OAK PARK HEIGHTS, MINNESOTA
CAPITAL PROJECT FUNDS
COMBINING BALANCE SHEET
December 31, 1999
With Comparative Totals For December 31, 1998
AAE
Brekke Brackey - Brackey -
Park Kern Oak Park Outlots
Memorial Center Pond A & B
Assets
Cash and investments $362 $37,077 $ - $52,323
Accounts receivable - other - - - -
Interfund loan receivable - - _
Due from developers - - _
Special assessments receivable:
Delinquent _ _ _
Deferred - -
Special deferred - - -
Due from County -• - - -
Total assets $362 $37,077 $0 $52,323
Liabilities and Fund Balance
Liabilities:
Cash overdraft $ - $ - $22,390 $ -
Interfund loan payable - - -
Escrow deposits payable - - -
Accounts payable - 8,827 - -
Contracts payable - 58,085 - 29,104
Due to other governments - - - -
Deferred revenue - - - -
Total liabilities 0 66,912 22,390 29,104
Fund balance:
Reserved for interfund loan receivable _ - - -
Unreserved:
Designated for capital improvement 362 - - 23,219
Designated for committed contracts - - - -
Undesignated - (29,835) (22,390) -
Total fund balance 362 (29,835) (22,390) 23,219
Total liabilities and fund balance $362 $37,077 $0 $52,323
50
Statement 12
Page 2 of 2
AAE
58th Street Sanitary Storm
Improvement Boutwells Sewer Water Sewer Totals
Phase III Landing Connection Connection Connection _® 1999 1998
$129,185 $ - $309,470 $215,433 $444,921 $3,592,992 $5,185,002
_ 5
260,000 260,000
64,197 _ - - 64,290 411
- - - - 1,024 1,578
m - 10,070 17,485 22,445 369,582 647,712
_ - _ - 14,800
- - _ _ - 21,610 144 -
$129,185 $64,197 $319,540 $232,918 $467,366 $4,309,503 $6,109,647
$ - $ - $ - $ - $ - $32,513 $
_ _ - 10,313 -
- - _ - - 9,347 9,347
3,489 18,047 - - - 33,631 20,650
32,494 46,150 - - - 176,222 72,458
- - 148
- - 10,070 17,485 22,445 370,606 664,090
35,983 64,197 10,070 17,485 22,445 632,632 766,693
- _ _ - - 260,000 260,000
- - 309,470 215,433 444,921 3,372,934 5,080,647
93,202 - - - - 116,598 27,563
- - - _ - (72,661) (25,256)
93,202 0 309,470 215,433 444,921 3,676,871 5,342,954
$129,185 $64,197 $319,540 $232,918 $467,366 $4,309,503 $6,109,647
51
CITY OF OAK PARIS HEIGHTS, MINNESOTA
CAPITAL PROJECT FUNDS
COMBINING STATEMENT OF REVENUE, EXPENDITURES AND
CHANGES IN FUND BALANCE
For The Year Ended December 31, 1999
With Comparative Totals For The Year Ended December 31, 1998
Budgeted
Projects
Capital and 57th Street/ Osgood/
Revolving Equipment Oakgreen Highway 36 Superamerica/
Fund Revolving Extension Intersection Valvoline Oil
Revenue:
Tax increment taxes $ - $ - $ - $ - $
Special assessments:
Current and delinquent 290,814 _ - -
Penalty and interest 3,391 - - -
Prepayments 28,722 _ _ _
Intergovernmental _ - _ -
Earnings on investments 4,100 4,069 663 - 514
Connection charges 8,703 -• - - -
Interfund loan interest 20,000 - -
Refunds and reimbursements -• 862
Donations and contributions - 250 -
Sale of property 250 - 15,158 - -
Total revenue 355,980 5,181 15,821 0 514
Expenditures:
Professional services 7,244 - m p
Contractual services -
Developer assistance
Administrative charge - -
Capital outlay 89,796 85,511 - -
Construction costs 27,795 1,352 314,162 2,219
Total expenditures 124,835 86,863 314,162 2,219 0
Revenue over (under) expenditures 231,145 (81,682) (298,341) (2,219) 514
Other financing sources (uses):
Bond proceeds - -
Operating transfers from General Fund - 19,000 - _
Operating transfers from Capital Project Fund 50,000 - 300,000 A
Operating transfers from Enterprise Fund - 15,000 - _
Operating transfers to General Fund - - - -
Operating transfers to Debt Service Fund - - - -
Operating transfers to Capital Project Fund (300,000) - - - -
Total financing sources (uses) (250,000) 34,000 300,000 0 0
Net increase (decrease) in fund balance (18,855) (47,682) 1,659 (2,219) 514
Fund balance - January 1 354,283 83,397 21,737 (5,447) 167
Residual equity transfer - - - _
Fund balance (deficit) - December 31 $335,428 $35,715 $23,396 ($7,666) $681
52
Statement 13
Page 1 of 2
St. Croix Valley View Central
Park Mall Street East Oaks Estates Renewal and Business
Development (TIF) Reconstruction Swager Krongard Replacement District
$ - $13,945 $ - $ - $ $ - $
480 -
19,745 5,385 17,335 - (79) 68,775 25
427 -
665 - - - - w 3,000
20,890 19,330 17,335 0 348 68,775 3,025
1,163 9,755 - - - - -
- 862 - - - - -
- 8,367 - - - - -
7,253 - - - - -
- - 7,553 - 450 - 25,795
1,163 26,237 7,553 0 450 0 25,795
19,727 (6,907) 9,782 0 (102) 68,775 (22,770)
10,000
109,225
0 0 0 0 0 109,225 10,000
19,727 (6,907) 9,782 0 (102) 178,000 (12,770)
365,518 101,873 326,565 95 102 1,273,052 -
$385,245 $94,966 $336,347 $95 $0 $1,451,052 ($12,770)
53
CI'T'Y OF OAK PARK HEIGHT'S, MINNESO'T'A
CAPITAL PROJECT FUNDS
COMBINING STATEMENT OF REVENUE, EXPENDITURES AND
CHANGES IN FUND BALANCE
For The Year Ended December 31, 1999
With Comparative Totals For The Year Ended December 31, 1998
AAE
Brek ke Brackey - Brackey - 58th Street
Park Kern Oak Park Outlots Improvement
Memorial Center Pond A & B Phase III
Revenue:
Tax increment taxes $ - $ - $ _ $ _ $ _
Special assessments:
Current and delinquent - - - -
Penalty and interest - - - -
Prepayments - - -
Intergovernmental - - - - -
Earnings on investments 2 25,045 782 3,002 25,311
Connection charges - - - -
interfund loan interest - - - - m
Refunds and reimbursements - - - n
Donations and contributions 360 - - m
Sale of property - ° - - -
Total revenue 362 25,045 782 3,002 25,311
Expenditures:
Professional services - - - -
Contractual services - - -
Developer assistance - - -
Administrative charge - - -
Capital outlay - •- - - -
Construction costs - 987,378 20,082 35,510 741,034
Total expenditures 0 987,378 20,082 35,510 741,034
Revenue over (under) expenditures 362 (962,333) (19,300) (32,508) (715,723)
Other financing sources (uses):
Bond proceeds - - -
Operating transfers from General Fund - - - - -
Operating transfers from Capital Project Fund - - - - -
Operating transfers from Enterprise Fund - - - - -
Operating transfers to General Fund - - - -- -
Operating transfers to Debt Service Fund - - - - -
Operating transfers to Capital Project Fund
Total financing sources (uses) 0 0 0 0 0
Net increase (decrease) in fund balance 362 (962,333) (19,300) (32,508) (715,723)
Fund balance - January 1 - 932,498 (3,090) 55,727 808,925
Residual equity transfer - - _ _ -
Fund balance (deficit) - December 31 $362 ($29,835) ($22,390) $23,219 $93,202
54
Statement 13
Page 2 of 2
AAE
Autumn Sanitary Storm
Ridge Boutwells Sewer Water Sewer Totals
3rd Addition Landing Connection Connection Connection 1999 19
$ _ $ _ $ _ $ _ $ - $13,945 $43,834
6,244 10,840 13,436 321,814 32,726
- - - 3,391 83
28,722 63,288
_ _ _ - 8,192
- 16,481 15,928 24,495 231,578 207,074
® 5,175 8,161 9,793 31,832 796,131
20,000 10,000
17,777 1,113,633 - - - 1,132,699 189,936
- - _ - 4,275 22,907
- - - 15,408 -
17,777 1,113,633 27,900 34,929 47,724 1,803,664 1,374,171
- - 18,162 73,110
- 862
_ - - 8,367 26,300
- _ - 7,253 27,009
- _ _ - 175,307 138,180
1,058 1,113,633 - g _ - 3,278,021 1,297,353
1,058 1,113,633 0 0 0 3,487,972 1,561,952
16,719 0 27,900 34,929 47,724 (1,684,308) (187,781)
- _ - - - 1,941,791
29,000 90,923
- 350,000 641,518
- - 124,225 115,753
- (10,591)
(20,000) (115,000) - (135,000) (125,000)
(50,000) (350,000) _ (641,518)
0 0 (20,000) _ (115,000) (50,000) 18,225 2,012,876
16,719 0 7,900 (80,071) (2,276) (1,666,083) 1,825,095
(16,719) - 301,570 295,504 447,197 5,342,954 3,513,560
- - _ - 4,299
$0 $0 $309,470 $215,433 $444,921 $3,676,871 $5,342,954
55
CPI'Y OF OAK PARK HEIGHTS, MINNESOTA
ENTERPRISE FUND Statement 14
BALANCE SHEET
December 31, 1999
With Comparative Amounts for December 31, 1998
Assets
1999 1998
Current assets:
Cash and cash equivalents $436,920 $508,312
Accounts receivable:
Customers 107,128 135,151
Certified to County 10,638 8,928
Other 773 441
Due from other governmental units 437 20,733
Prepaid MCES 21,952 18,757
Total current assets 577,848 692,322
Fixed assets:
Land 60,000 60,000
Buildings and structures 1,254,845 1,254,845
Machinery and equipment 162,707 141,829
Distribution and collection system 4,872,289 4,433,445
Total 6,349,841 5,890,119
Less: Allowance for depreciation (1,703,889) (1,582,960)
Net fixed assets 4,645,952 4,307,159
Total assets $5,223,800 $4,999,481
Liabilities and Fund Equity
Current liabilities:
Accounts payable $26,274 $52,201
Salaries payable 1,308 2,462
Due to other governmental units 10,815 16,028
Total current liabilities 38,397 70,691
Noncurrent liabilities:
Compensated absences payable 22,987 13,389
Total liabilities 61,384 84,080
Fund equity:
Contributions from property owners - net 4,403,495 4,073,875
Retained earnings:
Reserved for debt service reserve 661,765 661,765
Unreserved 97,156 179,761
Total fund equity 5,162,416 4,915,401
Total liabilities and fund equity $5,223,800 $4,999,481
56
CITE' OF OAK PARK HEIGHTS, MINNESOTA
ENTERPRISE FUND Statement 15
STATEMENT OF REVENUE, EXPENSES AND
CHANGES IN RETAINED EARNINGS
For The Year Ended December 31, 1999
With Comparative Totals For The Year Ended December 31, 1998
Water Sewer Storm Sewer Totals
Operating Operating Sanitation Operating 1999 1998
Revenue:
Customer billings $279,160 $347,099 $71,585 $13,628 $711,472 $611,537
Penalties 5,896 7,520 - - 13,416 8,046
Plumbing permits 1,545 615 - - 2,160 1,110
Meter charges 10,930 - - - 10,930 6,178
Charges for services 1,899 1,418 - - 3,317 10,675
Total operating revenue 299,430 356,652 71,585 13,628 741,295 637,546
Expenses:
Personal services 112,133 123,039 500 345 236,017 205,237
Contractual services 45,886 8,684 146,948 753 202,271 333,666
Refunds and reimbursements -- 500 - - 500 550
MCES charges - 250,780 - - 250,780 213,651
Materials and supplies 7,146 1,728 82 251 9,207 11,663
Administrative and personnel charge 19,550 40,025 21,080 - 80,655 63,525
Recycling award - - 600 - 600 -
Depreciation:
On purchased assets 9,285 2,420 - - 11,705 11,443
On contributed assets 61,908 47,317 - - 109,225 107,253
Total operating expenses 255,908 474,493 169,210 1,349 900,960 946,988
Operating income (loss) $43,522 ($117,841) ($97,625) $12,279 (159,665) (309,442)
Other income:
Earnings on investments 27,060 32,091
Net income (loss) before operating transfers (132,605) (277,351)
Other financing sources (uses):
Operating transfer from General Fund 65,000 190,400
Operating transfer to Capital Project Funds (124,225) (115,753)
Total other financing sources (uses) (59,225) 74,647
Net income (loss) (191,830) (202,704)
Other increases:
Credit arising from transfer of depreciation to contributions from property owners 109,225 107,253
Net increase (decrease) in retained earnings (82,605) (95,451)
Retained earnings - January 1 841,526 936,977
Retained earnings - December 31 $758,921 $841,526
57
CITY OF OAK PARK HEIGHTS, MINNESOTA
ENTERPRISE FUND Statement 16
STATEMENT OF CASH FLOWS
For The Year Ended December 31, 1999
With Comparative Amounts For The Year Ended December 31, 1998
1999 1998
Cash flows from operating activities:
Operating income (loss) ($159,665) ($309,442)
Adjustments to reconcile operating income to
net cash flows from operating activities:
Depreciation 120,930 118,696
Change in assets and liabilities:
Decrease (increase) in receivables 46,277 (15,342)
Decrease (increase) in prepaid expenses (3,195) 817
Increase (decrease) in payables (22,696) 76,057
Net cash flows from operating activities (18,349) (129,214)
Cash flows from noncapital financing activities:
Operating transfers from other funds 65,000 190,400
Operating transfers to other funds (124,225)_ (107,253)
Net cash flows from noncapital financing activities (59,225) 83,147
Cash flows from capital and related financing activities:
Operating transfer to other funds - (8,500)
Acquisition of fixed assets (20,878) (7,216)
Net cash flows from capital and related financing activities (20,878) (15,716)
Cash flows from investing activities:
Interest received on investments 27,060 32,091
Net increase (decrease) in cash and cash equivalents (71,392) (29,692)
Cash and cash equivalents - January 1 508,312 538,004
Cash and cash equivalents - December 31 $436,920 $508,312
Significant noncash investing, capital and financing activities:
During 1998 and 1999, fixed assets were contributed to the Enterprise Fund as follows:
1999 1998
Water Operating Fund $187,914 $55,053
Sewer Operating Fund 250,931 43,917
Total $438,845 $98,970
58
CITY OF OAK PARK HEIGHTS, MINNESOTA
AGENCY FUNDS Statement 17
COMBINING BALANCE SHEET
December 31, 1999
With Comparative Totals for December 31, 1998
Developer Developer
Deposit Escrow Investment Totals
Fund Fund Fund 1999 1998
Assets
Cash and investments $ - $31,000 $ - $31,000 $33,000
Accrued interest receivable - - 111,294 111,294 146,730
Accounts receivable - certified 2,475 - - 2,475 -
Due from developers 45,063 - - 45,063 42,005
Total assets $47,538 $31,000 $111,294 $189,832 $221,735
Liabilities
Cash overdraft $39,473 $ $111,294 $150,767 $181,764
Escrow deposits payable - 31,000 - 31,000 33,000
Accounts payable 6,412 - - 6,412 6,253
Due to developers 1,653 - - 1,653 718
Total liabilities $47,538 $31,000 $111,294 $189,832 $221,735
59
CITE' OF OAK PARK HEIGHTS, MINNESOTA
AGENCY FUNDS Statement IS
COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
For The Year Ended December 31, 1999
Balance Balance
January 1, December 31,
1999 Additions Deletions 1999
Developer Deposit Fund:
Assets:
Accounts receivable - certified $ - $2,475 $ - $2,475
Due from developers 42,005 45,063 42,005 45,063
Total assets $42,005 $47,538 $42,005 $47,538
Liabilities:
Cash overdraft $35,034 $4,439 $ - $39,473
Accounts payable 6,253 6,412 6,253 6,412
Due to developers 718 1,653 718 1,653
Total liabilities $42,005 $12,504 $6,971 $47,538
Developer Escrow Fund-
Assets:
Cash and investments $33,000 $ - $2,000 $31,000
Liabilities:
Escrow deposits payable $33,000 $31,000 $33,000 $31,000
Investment Fund:
Assets:
Accrued interest receivable $146,730 $111,294 $146,730 $111,294
Liabilities:
Cash overdraft $146,730 $ - $35,436 $111,294
Total Agcncvl
Assets:
Cash and investments $33,000 $ - $2,000 $31,000
Accounts receivable - certified - 2,475 - 2,475
Accrued interest receivable 146,730 111,294 146,730 111,294
Due from developers 42,005 45,063 42,005 45,063
Total assets $221,735 $158,832 $190,735 $189,832
Liabilities:
Cash overdraft $181,764 $4,439 $35,436 $150,767
Escrow deposits payable 33,000 31,000 33,000 31,000
Accounts payable 6,253 6,412 6,253 6,412
Due to developers 718 1,653 718 1,653
Total liabilities $221,735 $43,504 $75,407 $189,832
60
CITY OF OAK PARK HEIGHTS, MINNESOTA
SCHEDULE OF GENERAL FIXED ASSETS Statement 19
For The Year Ended December 31, 1999
Balance Balance
January 1, December 31,
Description 1999 Additions Deletions 1999
Land $482,859 $ - $ - $482,859
Land improvements 326,601 - - 326,601
Buildings and structures 1,023,197 115,782 - 1,138,979
Machinery and equipment 323,531 124,212 28,849 418,894
Furniture and fixtures 295,214 63,886 36,214 322,886
Totals $2,451,402 $303,880 $65,063 $2,690,219
61
CITY OF OAK PARK HEIGHTS, MINNESOTA
SCHEDULE OF GENERAL LONG -TERM DEBT Statement 20
December 31, 1999
With Comparative Amounts For December 31, 1998
1999 1998
Amount Available And To Be Provided For The
Retirement of Long -Term Debt
Bonds:
Amount available in Debt Service Funds $593,415 $544,441
Amount to be provided from future tax levies/
special assessment collections, and connection charges 2,811,585 3,235,559
Compensated absences:
Amount available in General Fund 102,958 76,617
Total available and to be provided $3,507,958 $3,856,617
General Long -Term Debt Payable
Bonds payable:
General Obligation Bonds:
G.O. Refunding Bonds of 1992 $25,000 $50,000
G.O. Crossover Refunding Bonds of 1993 810,000 900,000
Special Assessment Bonds:
G.O. Improvement Bonds of 1995 720,000 840,000
G.O. Improvement Bonds of 1998 1,850,000 1,990,000
Total bonds payable 3,405,000 3,780,000
Compensated absences payable 102,958 76,617
Total general long -term debt payable $3,507,958 $3,856,617
62
SUPPLEMENTARY
FINANCIAL
INFORMATION
63
CITY OF OAK PARK HEIGHTS, MINNESOTA
COMBINED SCHEDULE OF INDEBTEDNESS Exhibit 1
December 31, 1999
Final Net Bonds Principal Interest
Payment Interest Authorized Retired Outstanding Due Due
Date Due Rate And Issued To Date At 12/31/99 In 2000 In 2000
Bonded indebtedness:
General debt:
G.O. Refunding Bonds of 1992 09/01/92 12/01/00 5.48% $150,000 $125,000 $25,000 $25,000 $1,375
G.O. Crossover Refunding
Bonds of 1993 04/01/93 12/01/06 4.71% 1,140,000 330,000 810,000 95,000 38,910
Special assessments bonds:
G.O. Improvement bonds of 1995 07/01/95 12/01/05 4.69% 1,130,000 410,000 720,000 120,000 34,140
G.O. Improvement bonds of 1998 10/01/98 12/01/13 4.19% 1,990,000 140,000 1,850,000 150,000 75,263
Total indebtedness $4,410,000 $1,005,000 $3,405,000 $390,000 $149,688
64
CI'T'Y OF OAK PARK HEIGHT'S, MINNESO'T'A
REVENUE BONDS AND GENERAL DEBT BONDS Exhibit 2
SCHEDULE OF DEBT SERVICE PAYMENTS TO MATURITY
December 31, 1999
General Debt Bonds
Special General
Taxing District Obligation General General
$150,000 Crossover Obligation Obligation
G.O. Refunding Refunding Improvement Improvement
Bonds of 1992 Bonds of 1993 Bonds of 1995 Bonds of 1998 Total
Bonds payable $25,000 $810,000 $720,000 $1,850,000 $3,405,000
Future interest payable 1,375 163,375 121,860 563,675 850,285
Totals $26,375 $973,375 $841,860 $2,413,675 $4,255,285
Payments to maturity:
2000 $26,375 $133,910 $154,140 $225,263 $539,688
2001 - 134,825 148,740 219,787 503,352
2002 - 150,325 143,280 214,163 507,768
2003 - 149,805 137,700 208,462 495,967
2004 - 158,805 132,000 177,688 468,493
2005 - 166,805 126,000 172,812 465,617
2006 - 78,900 - 167,813 246,713
2007 - _ - 162,687 162,687
2008 - - - 157,500 157,500
2009 - - - 152,250 152,250
2010 - - 146,938 146,938
2011 - - - 141,562 141,562
2012 - - - 136,125 136,125
2013 - - - 130,625 130,625
Totals $26,375 $973,375 $841,860 $2,413,675 $4,255,285
65
CITY OF OAK PARK HEIGHTS, MINNESOTA
INSURANCE IN FORCE Exhibit 3
December 31, 1999
Coverage Amount
Umbrella Liability $1,000,000
Package:
Property Blanket Building and Contents ($500 deductible) 3,004,960
Public Liability including errors and omissions 600,000
Inland Marine ($500 deductible) 109,000
Limited Pollution 600,000
General Liability 600,000
Business Auto Policy:
Liability CSL 600,000
Uninsured motorist 600,000
Underinsured motorist 600,000
Physical Damage:
Comprehensive ($250 deductible) A.C.V.
Collision ($500 deductible) A.C.V.
Worker's Compensation 200,000/600,000 /600,000
Public Employees' Bond:
Cleric - Treasurer 50,000
Deputy Clerk - Treasurer 50,000
Bond - Public Employees Blanket Bond 50,000
Open Meeting Law Policy - Defenses Costs 20,000
66
CITY OF OAK PARK HEIGHTS, MINNESOTA
FUTURE SCHEDULED TAX LEVIES Exhibit 4
December 31, 1999
Year Of G.O. Improvement
Collection Bonds of 1995
2000 $59,400
2001 60,000
2002 60,000
2003 60,000
2004 60,000
2005 60,000
Totals $359,400
67
CITY OF OAK PARK HEIGHTS, MINNESOTA
TAXABLE VALUATIONS, TAX LEVIES AND TAX RATES Exhibit 5
1999/2000 1998/1999
Taxable valuations:
Real estate $6,571,300 $6,240,081
Personal property 120,574 114,675
Fiscal disparity:
Contribution (784,872) (547,378)
Distribution 298,275 299,919
Captured tax increment value - (30,380)
Total $6,205,277 $6,076,917
Tax levy:
City -wide:
General revenue $1,380,800 $1,325,000
Debt service 59,400 59,400
Total City -wide 1,440,200 1,384,400
Storm Sewer District:
G.O. Refunding Bonds of 1992 - 25,000
Total tax levy $1,440,200 $1,409,400
Tax capacity rate:
City -wide:
General revenue 22.646% 21.933%
Debt service 0.974% 0.962%
Total City -wide 23.620% 22.895%
Storm. Sewer District:
Storm Sewer Bonds of 1982 0.000% 0.833%
Total 23.620% 23.728%
Note: The tax levies shown above represent net tax levies after reduction for state aids.
68
CITY OF OAK PARK HEIGHTS, MINNESOTA
SCHEDULE OF CONSTRUCTION COSTS Exhibit 6
December 31, 1999
Legal Expended
and Current Prior
Contractor Engineer Fiscal Other Total Year Years
57th St/Oakgreen Extension $211,376 $86,378 $6,256 $208,528 $512,538 $314,162 $198,376
Osgood/Highway 36 Intersection - 7,666 - - 7,666 2,219 5,447
Street Reconstruction 1,001,418 238,832 4,866 68,519 1,313,635 7,553 1,306,082
Kern Center 777,125 145,416 16,227 124,609 1,063,377 987,378 75,999
Valley View Estates 257,813 56,200 1,910 7,300 323,223 450 322,773
Central Business District - 15,000 - 10,795 25,795 25,795 -
Brackey - Oak Park Pond 497,927 98,772 4,695 41,026 642,420 20,082 622,338
Brackey Outlot - A & B 140,362 24,616 2,861 4,037 171,876 35,510 136,366
AAE - 58th Street - Phase III 649,874 119,772 6,597 114,637 890,880 741,034 149,846
AAE - Autumn Ridge - 3rd Addition 171,954 30,932 472 6,243 209,601 1,058 208,543
AAE - Boutwells Landing 923,002 164,114 455 26,062 1,113,633 1,113,633 -
Total - All Funds $4,630,851 $987,698 $44,339 $611,756 $6,274,644 $3,248,874 $3,025,770
69
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70
STATISTICAL
SECTION
71
CITE' OF OAK PARK HEIGHTS, MINNESOTA
GENERAL AND SPECIAL REVENUE FUNDS Table 1
EXPENDITURES BY FUNCTION
Years 1990 Through 1999
(UNAUDITED)
General Public Public Community Capital
Year Total Government Safety Works Sanitation Recreation Development Outlay
1990 $1,193,094 $285,328 $469,581 $71,359 $228,675 $129,226 $ - $8,925
1991 1,425,679 318,948 563,770 107,828 262,838 139,726 - 32,569
1992 1,512,901 335,835 606,517 83,638 267,557 156,321 - 63,033
1993 1,604,095 364,284 655,150 94,365 312,423 160,257 - 17,616
1994 1,694,495 370,356 683,928 100,059 338,498 164,685 - 36,969
1995 1,795,775 398,640 724,112 86,000 344,396 178,567 - 64,060
1996 2,032,963 441,852 796,557 136,611 434,175 185,372 - 38,396
1997 2,034,181 507,902 847,015 99,412 313,302 211,244 - 55,306
1998 2,086,569 774,444 835,293 139,948 - 120,255 43,471 173,158
1999 2,092,809 772,729 887,643 192,501 - 73,241 124,331 42,364
72
CITY OF OAK PARIS HEIGHTS, MINNESOTA
GENERAL AND SPECIAL REVENUE FUNDS Table 2
REVENUE BY SOURCE
Years 1990 Through 1999
(UNAUDITED)
Licenses Charges Fines Earnings
Inter- and for and on
Year Total Taxes governmental Permits Services Forfeits Investments Miscellaneous
1990 $1,448,745 $1,142,770 $40,037 $48,870 $102,836 $42,165 $62,064 $10,003
1991 1,462,737 1,057,578 51,460 122,804 123,969 36,174 52,004 18,748
1992 1,552,461 1,121,894 87,194 93,908 146,702 38,557 33,905 30,301
1993 1,750,039 1,262,465 108,990 62,898 208,315 44,189 25,500 37,682
1994 1,821,948 1,254,999 136,359 60,914 239,643 55,111 34,783 40,139
1995 2,003,222 1,354,677 144,480 117,511 241,874 49,020 55,436 40,224
1996 2,097,097 1,390,443 145,741 156,181 230,579 56,545 56,468 61,140
1997 2,156,948 1,387,227 167,132 204,986 216,536 60,682 56,501 63,884
1998 2,157,782 1,479,490 200,368 125,678 186,799 60,183 49,912 55,352
1999 2,157,915 1,333,194 192,194 227,693 230,147 58,886 42,711 73,090
73
CITY OF OAK PARK HEIGHTS, MINNESOTA
PROPERTY TAX LEVIES AND COLLECTIONS Table 3
Years 1990 Through 1999
(UNAUDITED)
Percent Total
Total of Collection Delinquent
Tax Levy Current Delinquent Total as a Outstanding Percent of
Taxes (including Current Tax Levy Tax Tax Percent Delinquent Current
affable HACA) Collections Collected Collections Collections of Levy Taxes Levy
1990 1,205,556 1,177,782 97.70% $13,024 $1,190,806 98.78% $33,458 2.78%
1991 1,199,554 1,129,373 94.15% 15,103 1,144,476 95.41% 35,036 2.92%
1992 1,199,554 1,182,272 98.56% 8,815 1,191,087 99.29% 39,017 3.25%
1993 1,302,310 1,294,478 99.40% 26,441 1,320,919 101.43% 17,563 1.35%
1994 1,344,630 1,330,300 98.93% 2,344 1,332,644 99.11% 21,146 1.57%
1995 1,430,985 1,421,284 99.32% 12,034 1,433,318 100.16% 18,813 1.31%
1996 1,459,621 1,452,564 99.52% 7,674 1,460,238 100.04% 18,196 1.25%
1997 1,469,247 1,460,795 99.42% 4,194 1,464,989 99.71% 10,946 0.75%
1998 1,598,540 1,615,619 101.07% 5,726 1,621,345 101.43% 16,863 1.05%
1999 1,484,383 1,469,976 99.03% 4,296 1,474,272 99.32% 23,981 1.62%
* During 1991, the State cut the City's HACA by $43,148 representing 3.6% of the City's total certified tax levy. Without this
State aid reduction, 1991 total tax collections would have equaled 99% of the certified tax levy.
74
CITY OF OAK PARK HEIGHTS, MINNESOTA
SPECIAL ASSESSMENT COLLECTIONS Table 4
Years 1990 Through 1999
(UNAUDITED)
Current Total Outstanding
Collections Collections Delinquent
As a Percent As a Percent Assessments
Current Current Of Current Delinquent Of Current (including
Year Assessments Assessments Assessments Assessments Assessments Certified
Pa able Due Collected Due Collected Due Bills)
1990 $136,458 $104,145 76.32% * 61,407 121.32% * $73,320
1991 74,851 46,219 61.75% * 42,965 119.15% * 58,761
1992 120,717 102,217 84.67% * 24,861 105.27% * 50,927
1993 125,110 123,137 98.42% * 48,247 136.99% * 2,106
1994 46,145 45,729 99.10% 35 99.17% 2,486
1995 47,191 43,888 93.00% 1,021 95.16% 2,282
1996 139,628 136,958 98.09% 1,071 98.85% 4,163
1997 166,723 162,433 97.43% 1,743 98.47% 6,582
1998 109,134 106,924 97.97% 2,503 100.27% 6,083
1999 416,712 414,520 99.47% 1,493 99.83% 6,782
* Note: Special assessments for 1990 through 1993 include a single assessment roll collectible over five years (1989 through 1993)
appropriated to finance the G. O. Improvements Bonds of 1987. Approximately 90% of the underlying property is
owned or controlled by a single developer. This developer elected to pay these assessments as the underlying parcels
were sold and /or developed rather than over the scheduled years of the certified collections for this assessment roll. The
above delinquent assessments of $2,106 at December 31, 1993 include $998 fi•om this single developer. Actual
versus scheduled collections for this assessment roll have been as follows through December 31, 1993:
Excess
(Deficiency)
Actual Originally Scheduled Over
Year Annually Cumulative Annually Cumulative Scheduled
1987 $128,240 $128,240 $ - $ - $128,240
1988 167,569 295,809 - - 295,809
1989 248,017 543,826 260,700 260,700 283,126
1990 308,029 851,855 245,200 505,900 345,955
1991 97,563 949,418 229,600 735,500 213,918
1992 43,859 993,277 214,100 949,600 43,677
1993 28,427 1,021,704 198,500 1,148,100 (126,396)
Based upon the past history of this developer (as shown above) the City provided alternative revenue to ensure the
complete and timely financing of this bond issue. Such alternative revenue sources (plus 1990 - 1993 delinquent
collections) resulted in a remaining surplus of $216,921 after the bonds were fully retired.
75
CI'T'Y OF OAK PARK HEIGHTS, MINNESOTA
PRINCIPAL TAXPAYERS (Ten Largest Taxpayers) Table S
Taxes Payable in 1999
(UNAUDITED)
Percent of Percent of
Total Net Total Tax
Market Market Tax Capacity Property
Taxpayer Value Value Capacity Value Classification
Northern States Power $77,115,600 28.1% $3,361,282 55.3% Public Utilities
Watson Centers Inc 7,308,800 2.7% 314,916 5.2% Commercial
1<�TJ Limited Partnership Eleven 6,943,400 2.5% 305,666 5.0% Commercial
Menard Inc 4,944,100 1.8% 219,072 3.6% Commercial
Wal -Mart Store Inc 3,351,900 1.2% 147,896 2.4% Commercial
Oak Ridge Place of Oak Park 2,565,100 09% 77,120 1.3% Res. over 4 units
158 Club 1,561,100 0.6% 66,172 1.1% Commercial
Stillwater West LLC 1,636,500 0.6% 63,498 1.0% Commercial
Valley Senior Services Alliance 3,830,100 1.4% 61,156 1.0% Agricultural
Oak Park Associates 1,821,600 0.7% 54,766 0.9% Res. Over 4 units
Totals $111,078,200 40.5% $4,671,544 76.9%
Total City $274,454,600 $6,076,917
SOURCE: Washington County Auditor e Treasurer Taxation Division.
NOTES:
(1) This list is based only on parcels paying more than $5,000 net tax
(2) If a taxpayer has property consisting of more than one classification, only one is shown.
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