The URL can be used to link to this page

Home My WebLink About1989 CAFRCOMPREHENSIVE ANNUAL FINANCIAL REPORT THE CITY Of JC 0 L V M B I A H E 1 G H T S, M N For the fiscal year ended December 31, 1989 Prepared by: Department of Finance William Elrite, Directo: CITY OF COLUMBIA HEIGHTS, MINNESOTA COMPREHENSIVE ANNUAL FINANCIAL REPORT For the Fiscal Year Ended December 31, 1989 TABLE OF CONTENTS INTRODUCTORY SECTION Exhibit No. Page No. Letter of Transmittal 1 List of Principal Officials 8 Administrative Organization 9 FINANCIAL SECTION Independent Auditors Report General Purpose Financial Statements Combined Balance Sheet - All Fund Types and Account Groups A 10 Combined Statement of Revenues, Expenditures and Changes in in Fund Balance - All Governmental Fund Types B 12 Combined Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual - General, Special Revenue and Debt Service Funds C 14 Combined Statement of Revenues, Expenditures and Changes in Retained Earnings - All Proprietary Fund Types D 17 Combined Statement of Cash Flows - All Proprietary Fund Types E 18 Notes to the Financial Statements 19 Combining, Individual Fund and Account Group Statements General Fund - Comparative Balance Sheet F -1 53 Statement of Revenues, Expenditures ' and Changes in Fund Balance - Budget and Actual F -2 54 Statement of Revenues - Budget and Actual F -3 55 Statement of Expenditures - Budget and Actual F -4, 56 Special Revenue Funds - Combining Balance Sheet G -1 58 Combining Statement of Revenues, Expenditures and Changes in Fund Balance G -2 60 Exhibit No. Municipal State Aid Street Fund - Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual G -3 Cable Television Fund - Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual G -4 Paratransit Fund - Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual G -5 Demonstration Grant Fund - Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual G -6 Combining Balance Sheet - Total Recreation and Community Services G-7 Combining Statement of Revenues, Expenditures and Changes in Fund Balance - Total Recreation and Community Services G -8 Recreation and Community Services - Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual G-9 Youth Athletics - Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual G -10 Traveling Athletics - Statement of Revenues, Expenditures f and Changes in Fund Balance - Budget and Actual G -11 Trips and Outings - Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual G -12 Senior Citizen Fund - Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual G -13 Early Childhood and Family Education: Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual G -14 Adventure Club - Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual G -15 Page No. 62 63 64 65 66 68 70 71 72 73 74 75 76 Exhibit No. Page No. Adult Basic and Continuing Education - Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual G -16 77 Adult Athletics: Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual G -17 78 Special Projects - Statement of Revenues, Expenditures and Changes in Fund Balance G -18 79 Combining Balance Sheet - Housing and Redevelopment Authority G -19 80 Combining Statement of Revenues, Expenditures and Changes in Fund Balance - Housing and Redevelopment Authority G -20 82 Housing and Redevelopment Authority General Fund - Statement of Revenues Expenditures and Changes in Fund Balance - Budget and Actual G -21 84 Housing and Redevelopment Authority Downtown Development - Statement of Revenues, Expenditures and Changes in Fund Balance G -22 85 Housing and Redevelopment Authority Low Income Housing Fund - Statement of Revenues, Expenditures and changes in Fund Balance - Budget and Actual G -23 86 Housing and Redevelopment Authority Anoka County Community Development Block Grant - Statement of Revenues, Expenditures and Changes in Fund Balance G -24 87 Debt Service Funds - Combining Balance Sheet H -1 88 Combining Statement of Revenues, Expenditures and Changes in Fund Balance H -2 90 Special Assessment Refunding Bonds of 1987 - Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual H -3 92 Tax Increment Bonds of 1980 - Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual H -4 93 Tax Increment Bonds of 1984 - Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual H -5 94 I� Exhibit No. Page No. I Tax Increment Bonds of 1985 - Statement of Revenues, Expenditures and Changes in Fund Balance - Budget ' and Actual H -6 95 Tax Increment Refunding Bonds of 1987 - Statement of Revenues, Expenditures and Changes in Fund Balance - Budget , and Actual H -7 96 Tax Increment Taxable Bonds of 1987 - Statement of Revenues, Expenditures ' and Changes in Fund Balance - Budget and Actual H -8 97 Capital Projects Funds- Combining Balance Sheet I -1 98 ' Combining Statement of Revenues, Expenditures and Changes in Fund Balance I -2 100 Enterprise Funds - ' Combining Balance Sheet J -1 102 Combining Statement of Revenues, Expenditures and Changes in ' Retained Earnings J -2 104 Combining Statement of Cash Flows J -3 106 Water Utility Fund- Balance Sheet J -4 108 ' Statement of Revenues, Expenditures and Changes in Retained Earnings J -5 109 Statement of Cash Flows J -6 110 ' Sewer Utility Fund - Balance Sheet J -7 111 Statement of Revenues, Expenditures and Changes in Retained Earnings J -8 112 , Statement of Cash Flows J -9 113 Refuse Utility Fund - Balance Sheet J -10 114 Statement of Revenues, Expenditures ' and Changes in Retained Earnings J -11 115 Statement of Cash Flows Liquor Fund- J -12 116 ' Balance Sheet J -13 117 Statement of Revenues, Expenditures and Changes in Retained Earnings J -14 118 Statement of Cash Flows J -15 119 ' Internal Service Funds - Combining Balance Sheet K -1 120 Combining Statement of Revenues, ' Expenditures and Changes in Retained Earnings K -2 121 Combining Statement of Cash Flows K -3 122 ' I� Exhibit No. . Central Garage Fund- Balance Sheet K -4 Statement of Revenues, Expenditures ' and Changes in Retained Earnings K -5 Statement of Cash Flows K-6 Insurance Fund- Balance Sheet K-7 ' Statement of Revenues, Expenditures and Changes in Retained Earnings K -8 Statement of Cash Flows K -9 ' Fiduciary Funds- Combining Statement of Changes in Assets and Liabilities L -1 General Fixed Assets Group of ' Accounts Comparative. Schedule of General Fixed Assets by Source M -1 General Long Term Debt Group of Accounts Statement of General Long -Term Debt N -1 ' Schedule of Funding Available and Funds Required N-2 Schedule of Debt Service Requirements ' to Maturity N -3 SUPPLEMENTAL INFORMATION (Unaudited) Schedule of Sources and Uses of Public ' Funds for Housing and Redevelopment Authority Tax Increment Financing Districts 0 -1 Note - Sources of Funds 0 -2 STATISTICAL SECTION Assessed Value, Tax Capacity ' and Market Value of all Taxable Property I Tax Rates II City Tax Levy III ' Tax Levies and Tax Collections IV Special Assessment Collections V General Governmental Revenues by ' Source VI General Governmental Expenditures by Function VII Schedule of Insurance VII Schedule of Bonds Payable IX Principal City officials X Miscellaneous Statistical Facts XI ' Principle Taxpayers XII Computation of Legal Debt Margin XII Page No. 123 124 125 126 127 128 129 131 132 133 134 135 137 138 140 141 142 144 146 147 148 149 157 158 160 161 OTHER REQUIRED REPORTS Independent Auditor's Report on Schedule of Federal Financial Assistance Schedule of Federal Financial Assistance Independent Auditor's Report on Internal Control Structure Based Solely on a Study and Evaluation Made as a Part of an Audit of the General Purpose Financial Statements Independent Auditor's Report on Internal Accounting Controls (Accounting and Administrative) Based on a Study and Evaluation Made as Part of an Audit of the General Purpose Financial Statements and Additional Tests Required by the Single Audit Act Independent Auditor's Compliance Report Based Solely on an Audit of the General Purpose Financial Statements Performed in Accordance with Government Auditing Standards Independent Auditor's Report on Compliance with Laws and Regulations related to Federal Financial Assistance Programs Independent Auditor's Report on Compliance with Minnesota State Laws and Regulation Schedule of Findings AA CITY OF COLUMBIA HEIGHTS 590 40th Avenue N. E. Columbia Heights, MN 55421 -3878 (612) 782.2800 June 30, 1990 Mayor Edward M. Carlson Councilmembers To the Citizens of Columbia Heights Sean T. Clerkin Mayor and Council Members Bruce G. Nawrocki City Manager: Gary L. Peterson Robert W. Ruettimann The Comprehensive Annual Financial Report of the City of Columbia Heights for the fiscal year ended December 31, 1989, is hereby City Manager submitted. The responsibility for both the accuracy of the presented Robert S. Bocuinski data and the completeness and fairness of the presentation, including all disclosures, rests with the City. To the best of our knowledge and belief, the enclosed data are accurate in all material respects and are reported in a manner designed to present fairly the financial position and results of operations of the various funds and account groups of the City. All disclosures necessary to enable the reader to gain an understanding of the City's financial activities have been included. The comprehensive annual financial report is presented in three sections: Introductory, financial and statistical. The introductory section includes this transmittal letter, the City's organizational chart and a list of principal officials. The financial section includes the general purpose financial statements, the combining and individual fund and account group financial statements and schedules, as well as the auditor's report on the financial statements and schedules. The statistical section includes selected financial and demographic information, generally presented on a multi -year basis. The City is required to undergo an annual single audit in conformity with the provisions of the Single Audit Act of 1984 and the United States Office of Management and Budget Circular A -128, Audits of State and Local Governments. Information related to this single audit, including the schedule of federal financial assistance is included at the end of this report. This report includes all funds and account groups of the City. The City provides a full range of services. These. services include police and fire protection; sanitation services; the construction and maintenance of highways, streets and infrastructure; library; recreational facilities; cultural events and general administrative services. In additional to general government activities, the City Council exercises, or has the ability to exercise, oversight of the Housing and Redevelopment Authority; therefore, this activity is 1 "SERVICE IS OUR BUSINESS" EQUAL OPPORTUNITY EMPLOYER included in the reporting entity. However, Columbia Heights Police and Fire Department Relief Associations, Independent School District 113, Six Cities Watershed District and Rice Creek Watershed District have not met the established criteria for inclusion in the reporting entity, and accordingly are excluded from this report. ECONOMIC CONDITION AND OUTLOOK The City, which is a suburb located north of the City of Minneapolis in Anoka County in east - central Minnesota, was originally incorporated as a village in 1898. In 1921, pursuant to adoption of a home rule City Charter by the qualified voters of the City, the City of Columbia Heights instituted a council- manager form of government. The City covers an area of 3.52 square miles and its population is currently estimated to be 20,039. The City is considered to be fully developed at this time. During the year Medtronic moved 200 employees into the vacant Land O'Lakes building. By the close of 1989, 722 (47 of 65) of the townhomes slated for the Sullivan Shores development had been constructed. Preliminary engineering designs and environmental assessment worksheets for the alternatives for the northeast corridor routes were undertaken in 1989 for light rail transit. The two corridors under consideration are University Avenue and Central Avenue. A decision on the corridor is likely to be made in 1990. Although there is no space for the City to physically grow, the City continues to progress through the process of redevelopment. During 1989, the Housing and Redevelopment Authority (HRA) Board solicited requests for proposals for redevelopment for the City's industrial area. During the year, economic indicators remained stable. The City continues to maintain a strong financial position and that trend is expected to continue. MAJOR INITIATIVES For the Year Major mechanical and electrical improvements to City Hall, the Public Library and Municipal Service Center were completed in 1989. Roofing improvements were.also completed on City Hall during the year. Citywide curbside recycling began in Columbia Heights on April 1, 1989. Materials collected are metal food and beverage containers, glass food and beverage containers, newspapers and corrugated cardboard. Approximately 112 of the residential waste stream was abated through recycling efforts in 1989. During the year, the City acquired and implemented a new computer system. This system employs IBM36 hardware and Business Records Corporation software for financial, payroll and utility billing 2 applications. This conversion was very successful and all applications are running much better on the new system. Also undertaken in 1989, was the development of a computer network project. The network will tie into the IBM36 computer system so that financial inquiry information will be available to all users on the network. For the Future Taylor Telephone System will be installing a new state -of- the -art telephone system in City Hall, Murzyn Hall and the Public Works Building. Top Valu Liquor Store will begin accepting credit card purchases in 1990. Accepting credit cards will not be profitable for some time, ' but it is a way to attract additional customers and larger sales. The equipment that will be installed will also allow the use of various data banks throughout the area for check verification. ' As a result of a water distribution study conducted in 1989, there will be a proposed project in 1990 to improve and upgrade the water system to provide minimal flows for fire protection as well as domestic usage. ' The City purchased hardware and software for participation in the county -wide GIS System in 1989. The City will begin digitizing the system in 1990. FINANCIAL INFORMATION The City of Columbia Heights' strong financial management continues ' to provide the residents of the City with initiatives designed to enhance its excellent financial position: 1. Investing funds not immediately needed for expenditures to ' maximize non -tax revenue. 2. Closely monitoring expenditures to ensure that activities are ' carried out within authorized levels. Internal Controls ' Management of the City is responsible for establishing and maintaining an internal control structure designed to ensure that the assets of the government are protected from loss, theft or misuse; ' and to ensure that adequate accounting data are compiled to allow for the preparation of financial statements in conformity with generally accepted accounting principles. The internal control structure is ' designed to provide reasonable, but not absolute, assurance that these objectives are met. The concept of reasonable assurance recognizes that: (1) the cost of a control should not exceed the ' benefits likely to be derived; and (2) the valuation of costs and benefits requires estimates and judgements by management. 3 Single Audit As a recipient of federal, st City is also responsible for control structure is in place laws and regulations related control structure is subject the City. ate and county financial assistance, ensuring that an adequate internal to ensure compliance with applicable to those programs. This internal to periodic evaluation by management the 7-74 As part of the City's single audit, described earlier, tests are made to determine the adequacy of the internal control structure, including that portion related to federal financial assistance programs, as well as to determine that the City has complied with applicable laws and regulations. Budgeting Controls In addition, the City maintains budgetary controls. The objective of these budgetary controls is to ensure compliance with legal provisions embodied in the annual appropriated budget approved by the City Council. Activities of the General Fund, Special Revenue Funds and Debt Service Fund are included in the annual appropriated budget. Budgetary control is maintained by an encumbrance system whereby purchase requests are pre- audited as to authorization and availability of funds prior to their release to vendors. Also inherent in this controlling function is the management philosophy that the existence of a particular item or appropriation in the approved budget does not automatically mean that it will or must be spent. The budget process has flexibility in that, where need has been adequately demonstrated, an adjustment can be made within the department budget by the City Manager, or between departments and funds by the City Council. Therefore, there is a constant review process and, expenditures are not approved until it has been demonstrated that (1) adequate funds were appropriated, (2) the expenditure is still necessary and (3) funds are available. As demonstrated by the statements and schedules included in the financial section of this report, the City continues to meet its responsibility for sound financial management. General Government Functions Revenues for City general government functions (General, Special Revenue, Debt Service and Capital Project Funds) during 1989 totaled $10,696,018, which is an increase of 5.6 percent over 1988. Property taxes received for the City produced 27 percent of general revenues compared to 29 percent last year. The amount of revenue from various sources and their change from last year are shown on the next page: V ' Percent Amount of of Increase (Decrease) Revenue Source Amount Total From 1988 ' Taxes $ 2,839,936 272 $ (84,665) Special Assessments 736,662 7 262,.473 Licenses and Permits 142,365 1 (21,019) ' Fines and Forfeitures 128,188 1 15,934 Interest and Rents 1,256,812 12 637,184 Intergovernmental 4,014,920 37 276,608 Charges for Services 611,516 6 95,498 Other Revenue 965:,619 9 (613,037) Total Revenues $10,696.018 1002 $ 568,976 ' The decrease in tax revenue was a result of a decrease in tax increment taxes collected. The most significant increase in revenues was in the area of intergovernmental revenues. This increase was a result of the City receiving more local government aid. Large increases also occurred in special assessments and interest and rents. The expenditures for City general governmental purposes for 1989 ' totaled $10,739,986, a decrease of 2 percent from 1988. The total expenditures for major City functions and their change from last year are shown below: ' Percent Amount of of Increase (Decrease) Expenditure Function Amount Total From 1988 General Government $ 1,114,211 112 $ 79,241 Public Safety 2,303,702 22 85,506 Public Works 785,818 7 222,386 ' Sanitation 122,304 1 31,544 Library 333,188 3 (20,053) Parks and Recreation 1,400,850 13 194,569 ' Other 766,902 7 (117,391) Capital Outlay 1,513,669 14 (1,317,401) Debt Service 2,399,342 22 645,311 ' Total Expenditures $10,739,986 10.02 $ (196,288) ' Expenditures increased for parks and recreation as a result of continued expansion of the recreation and community services programs. As a result of drought conditions the past years, it was necessary to ' remove and replace an increased number of boulevard trees in the City, thereby increasing sanitation costs. 5 General Fund Balance The Fund Balance of the General Fund increased by 4.6 percent in 1989. The total fund balance of $4,717,137 is in a very strong financial position. It should be pointed out, however, that this represents working capital for general operations that is used extensively during the first seven months of the year until current taxes and state aids are received. Enterprise operations The City's enterprise operations are comprised of water, sewer and refuse utilities and municipal liquor operations. Total sales from the City's off -sale liquor locations amounted to $3,695,249 in 1989. This resulted in a total net operating income of $228,857, an increase of 26 percent over 1988. Liquor operations are expected to show growth and profitability in the future. . The sewer and refuse utility funds continued to show moderate gains in operating revenues and net income for 1989. The net income for the water utility fund decreased in 1989. This is due to increased distribution costs and a reduction in revenues. Internal Service Funds The City maintains two internal service funds -- Central Garage and Insurance. The Central Garage fund is a self sustaining fund providing service to other departments within the City and for which user fees are paid by the using department. The insurance fund was established at a time when the City did not carry Commercial liability insurance to pay for any claims arising during that time period. The fund is currently maintained to fund deductible amounts and to pay any claims that may arise in the future that exceed the current coverage. Agency Funds Agency funds are used to account for assets held by the City in an agent capacity for individuals, private organizations, other governments or other funds. The City has agency funds for deferred compensation, permit surcharge, escrow and HRA deferred compensation. Cash Management Cash temporarily idle during the year was invested in demand deposits, certificates of deposit, obligations of the U. S. Treasury, repurchase agreements and commercial paper. The average yield on investments was 8.14 percent. The City's investment policy is to minimize credit and market risks while maintaining a competitive yield on its portfolio. Accordingly, deposits were either insured by federal depository insurance or collateralized. 6 Debt Administration At December 31, 1989, the City had a number of debt issues outstanding. These issues included $20,045,000 of general obligation tax increment bonds and $1,725,000 of special assessment debt with City Commitment. The City has, in escrow, $8,863,500 from proceeds of Tax ' Increment Refunding Bonds of 1987, Series A to refund tax increment bonds issued in 1980 and 1985. These issues will be called in 1990 and 1991 respectively. The City has issued no bonded debt. Risk Management The City maintains commercial insurance coverage for liability, ' property, liquor liability and worker's compensation. In addition, the City maintains an internal service fund for insurance with a reserved balance to provide funds if needed for excess claims or deductibles. During 1989, the City had no significant claims. OTHER INFORMATION Independent Audit State statutes require an annual audit by.independent certified public accountants. The accounting firm of Pannell Kerr Forster was selected by the City. In addition to meeting the requirements set forth in state statutes, the audit also was designed to meet the requirements of ' the federal Single Audit Act of 1984 and related OMB Circular A -128. The auditor's report on the general purpose financial statements and combining and individual fund statements and schedules is included in ' the financial section of this report. Acknowledgments The preparation of.the comprehensive annual financial report on a timely basis was made possible by the dedicated service of the entire staff of the finance department. Each member of the department has our sincere appreciation for the contributions made in the preparation of this report. In closing, without the leadership and support of the City Manager and City Council, preparation of this report would not have been possible. Sincerely, C ' William Elrite June Johns on Finance Director City Accountant CITY OF COLUMBIA HEIGHTS, MINNESOTA LIST OF PRINCIPAL OFFICIALS YEAR ENDED DECEMBER 31, 1989 ' CITY COUNCIL Dale V. Hadtrath, Mayor Edward M. Carlson Councilmember, Mayor -Elect Russell D. Paulson Councilmember Rita M. Petkoff Councilmember Gary L. Peterson Councilmember Bruce G. Nawrocki Councilmember -Elect ' Sean T. Clerkin Councilmember -Elect CITY MANAGER Robert S. Bocwinski ' FINANCE DEPARTMENT ' William Elrite, Director 8 CITY OF COLUMBIA HEIGHTS, MN ADMINISTRATIVE ORGANIZATION ELECTORS MAYOR COUNCIL MEMBERS POLICE \ REGULAR RESERVES CIVIL DEFENSE CITY FIRE LIBRARY REGULAR VOLUNTEERS RESERVES FINANCE GENERAL GOVERNMENT ACCOUNTING CITY CLERK ELECTIONS UTILITY BILLING COLLECTIONS LIQUOR NO 1 OFF SALE NO 3 OFF SALE COMMISSIONS AND BOARDS: HUMAN SERVICES HRA CABLE COMMUNICATIONS SCIENCES TECH & ENERGY MERIT INSURANCE TRAFFIC 9 RECREATION AND COMMUNITY SERVICES COMMISSION ADMINISTRATIVE LEGAL RECREATION SERVICES AND f COMMUNITY ` SERVICES CABLE TV PARA TRANSIT INSPECTIONS LICENSES AND PERMITS PLANNING ASSESSING REFUSE RECYCLING CHARTER POLICE AND FIRE CIVIL SERVICE LIBRARY PLANNING AND ZONING RECREATION AND COMMUNITY SERVICES PARK C THE CITY 0 of L U M GENERAL I A (D E PURPOSE G H T So M FINANCIAL N STATEMENTS These General Purpose Financial Statements are part of the Comprehensive Annual Financial Report, presenting only aggregate data by fund type and account group, together with notes to the financial statements and constitutes "fair presentation in conformity with generally accepted accounting principles." It is felt that these General Purpose Statements will be a benefit to users requiring less detailed information about our City's finances. PANNELL KERR INDEPENDENT AUDITOR'S REPORT FORSTER Certified Public Accountants 400 Park National Bank Bldg. City Council and Residents 5353 Wayzata Boulevard City of Columbia Heights Minneapolis, MN 55416 Columbia Heights, Minnesota Telephone (612) 545 -0421 Telefax 612- 545 -0569 We have audited the general purpose financial statements of the City of Columbia Heights, Minnesota, as of and for the year ended December 31, 1989, as listed in the table of contents. These general purpose financial statements are the responsibility of the City's management. Our responsibility is to express an opinion on these general purpose financial statements based on our audit. We conducted our audit in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the general purpose financial state- ments. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall general purpose financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the general purpose financial statements referred to above present fairly, in all material respects, the financial position of the City of Columbia Heights, Minnesota, at December 31, 1989, and the results of its operations, changes in fund balance, and cash flows of the Proprietary Fund Type for the year then ended, in conformity with generally accepted accounting principles. As discussed in Note 1 to the financial statements, the City adopted the Governmental Accounting Standards Board Statement on Reporting Cash Flows of Proprietary Funds for 1989. Our audit was made for the purpose of forming an opinion on the general purpose financial statements taken as a whole. The combining and individual fund statements as 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. Such information 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. The supplemental information and statistical information listed in the table of contents is not necessary for a fair presentation of the general purpose finan- cial statements, but is presented as additional analytical data. This infor- mation is unaudited and we do not express an opinion on it. April 10, 1990 4 A .r{ O � i y6 V L CCC � 6 M � }O F V . a o r/ n Pf PI M 1q N VI n PI 10 n wt M N O O P IF N O N O VIN PION PI O PP 10 111 Y/ VI O 10 J N O IO P O V1 0 1.1 0 111 It PI P P m h PI nPO PO10111 r In PI r1 P Y1 PI h 01 1D O O P V1 b In P 10 O �+ 1'1 Vf O P O P O N N O 10 N H • b N P N 1-1 • � �p N N ��r• O ~ O h Ob bNn NN10 0110 PP N P Iw h PIO PI Ip 1 O r 10 ■ PI N n 1 OOObb PI On 1p h 1'VN m)111ObNN 111P ON P O O P PI Y >pP n 10 PIOnO10 P1 n1 J1 On 1-IP N 1 n N 10 n O n T ti n n r ti H n r P P Imp � M ti n N N 1 1 1 1 1 1 1 1 1 1 1 1 1 1 E P O O P O P • Y>•iyy 1Ow H r .Nr N • 0 e0 G Y p N P N G7 �y N wai • 1 1 1 1 1 1 1 1 1 1 1 1 r 1 1 1 1 1 r a Y � i r N N >I Y 9 V 1 1 1 1 1 1 1 1 1 P 1 1 P • 9 N< dw�1 N N P 1 I I I r 1 1 P 1 1 m m l 1 1 1 N N N n a O n h n < Y G N a w ii y y N N Va y y � P �O N rr P O 10 1n n N pO, Ip nV N N N h w p N P n N O 10 O • �y+ yi m P N N Y N III � N N O P WW m 1 1 1 1 i I O 10 O n 1 1 1 1 I N H � O O N N ✓1 N w Y u a In O wN a N 111 O LM ^ IpO N go N N ■ V I 1 1 / 1 1 1 1 N i O Y nPn 10111 P1 cc O O 10 rI N O1D PN r ID 1 ■ C 111 111 P N O N 111 N N a n r i aj „ w j1! .N+ r .r1 N i O• Q Y HM i O N P 111 P n O 1 wl Y r P PI N O P P b O P O n ' 1011 ~ r N N gIr w Y. •+ L ew F•w c 1+ •vm u • 7 Y 7 L u Y m 11.0 Y <� d i O C O Im ~C eyw yyc 0�.0 0 eyi l.. .. O ■ ■ � Ci Z O CO a ■� «� a iG 1« Y C dm Y A p +1 > y G M e M ►1 d m p w w s r �1 M C Y L 'w u Y +1 ^• Y c■ p G d � Y i d O L v< p ...+ • m> U v Cd F> C> O. L ^ OCC 0. d O .+ V Y •y +1 v w.l w C p O ■■5 n+ pym d■ +1 d +yy+ > Opp N c O a N ► O Y V d M 4 Y 0'9'1 y p f Gf O< G G< C ■• C ... ' V 0.p C C O• t O C 'O 0.y r l• i ■ ■ < < < i ' y eLp 1••� �y 0 <Ntl•+rr •i d Y m U ► IYi �CLt N t ' erOn m' nlnrvJOno e n P o 'D N a mo I• P nnO w n10.r 00.IJ O I a � � O 1+ O n N .0 P n r0 O O O N O N n n ♦ m m I• n n P m OmN P nN ♦PNnIp w1 m + n» w O P rn + 0♦ N P O P n~ M ^ N O m P n n N ++ N w P n N P m ^I m p n N N ..1 ♦ r0 y N ■Sp O5 : 4 + p r I 1 P O P O n m O P n n a N n N ^ P O r O+ n ■ PnP O arvw Onn Ip Or0 w y N .I IO P ♦w O V MP N^N N m.O rP ..rO �•a ♦ n a .n dP P ON O rD P Inn n.+H Pw nH m +f ID PIn O ~ N N ~ N O N~ ♦ � I^ H y E P O P • Y� Y n N N �li .iC N N N Y O y l r I r r 1 1 1 1 1 1 I I I 1 y ✓ 1 ♦ 1 1 + •9✓ n n n pYp •�1 V N N N ' O .i w n h N Yi< n In N N 7 IOn n IPI N N 9 ry 7 T p•p Y n .p i i h 1 N N r r 1 1 1 1 1 1 1 r I I r I^ N ♦ P � N N M n N �O ID n y • N N w Y T I 7 C' I V a C r a to r n O ► i ■' N O ♦ nl In N I m NyIA ' � • w N N� ~ O I m Af of a n w J 1 rl O m m L D07 ' V n ^ ♦ ml + SDI w O J u ♦ w N w NI N < P � ► I II ^ N I r I I I O < P N m i d N n r m r N III S A m F ✓ V P O P r m n r n +� r � � G nl J r b bl NCI C y i , O �1 0 i ✓ o♦ I o I ♦e^ r oo w r,n n I r r r In w of ©!n N ^+ m 0 O N N ^ O w 0 w N OI P P O m bl ' � � � 5V V � Inlm P � ^O IP + N� ♦ y .Oi 1 n rI y yl 0 ^ ^ O d w � • w ♦.. w 00 m O {Y1 w n t' n P N m n w AI p N N ♦ w P�I iV7 ♦ • • ' y y ■ w Y C G w = y T O R Y h • �✓ y O ' . • t � QQ � Y N .. � ✓ ✓ e t u W i t T � d q V . T R C • ■[ C • t �sg � w• O � 7 D t tl w G [7 ..Ci t O Y� • • G■ K y tJ i C C L w .i ■ C �✓ ■ R V Y G t V■ T < .7 V V M C S• S• ■ 6 G �+ T pp V V t G ■ ■ 7 ++ T ■ T L T L Y i pp V V+ y R ►. y O ►. V� � ✓ ✓ C M ► Y _a ` C W. ' Y ^•✓ O L T LO O S i � II.. � G O Q ` T Y I. `` yy�1 u► T G`■ L► Y C b R• .i h i�• V t t Y� N` C 7 h h h h h V .. ► O O W c' ppyy R` +I ■ F h r r w w o f t C i ►L i G C a rtr ► t t w ` C .O^. C=< ` ac 'Q K su<stj E 66$0. 1 1� '" i CITY OF COLUMBIA HEIGHTS, KINNESOTA ALL GOVERNMENTAL FUND TYPES COMBINED STATEMENT OF REVENUES, EXPEND1 URES AND CHANGES IN FUND BALANCES FOR THE YEAR ENDED DECEMBER 31, 1989 TITH COMPARATIVE TOTALS FOR THE YEAR ENDED DECEMBER 31, 1988 REVENUES Taxes Special Assessments Licenses and Permits Fines and Forfeitures Interest Intergovernmental Charges for Services Other Revenue Total Revenues EXPENDITURES Current: General Government Public Safety Public Works Sanitation Library Parks and Recreation Other Contingencies Capital Outlay Debt Service: Principal Retirement Interest and Fiscal Charges Total Expenditures Excess (Deficiency) of Revenues Over (Under) Expenditures OTHER FINANCING SOURCES (USES) Operating Transfer In Operating Transfer Out Settlement on Consolidated Annual Contributions Contract Total Other Financing Sources Excess of Revenues and Other Financing Sources Over (Under) Expenditures and Other Financing Uses Fund Balances, Beginning of Year as Previously Stated Adjustment to Defer Revenue Fund Balance, Beginning of Year as Restated Residual Equity Transfer Fund Balances, December 31 Governmental Fund Tunes Special Debt Capital General Revenue Service Proiiects $ 1,801,105 $ 29,382 142,365 126,188 276,668 90,621 3,103,297 706,524 202,972 408,544 62.326 386,031 5,716,921 1,621,102 1,114,211 - 2,303,702 - 785,818 - 122,304 - 333,188 - 653,115 747,735 _ 763,200 3,702 - 341,841 5,316,040 1,852,776 400,881 (231,674) S 1,009,449 736,662 862,517 205,099 5.463 2,819,190 715,000 1,684,343 2,399,343 419,847 267,463 138,395 498,218 (459,374) (128,853) (1,251,501) (191,911) 9,542 206,970 (222,132) 4,508,167 1,053,119 (128,461) '•4,508,167 924,658 10,351 $ 4.717.137 $ 712,877 (753,283) (333,436) 12,999,367 12,999,367 $_12 665.1931 THE NOTES TO THE FINANCIAL STATEMENTS ARElAN INTEGRAL PART OF THIS STATEMENT. 27,006 511,799 538,805 1,171,828 1,171,828 (633,023) 1,283,557 (3,500) 1.280,057 647,034 (99,864) (99,864) $ 547,170 Total (Memorandum Only) 1989 1988 S 2,839,936 $ 2,924,601 736,662 474,189 142,365 163,384 128,188 112,254 1,256,812 619,628 4,014,920 3,738,312 611,516 516,018 965.619 1,578,656 10.696.018 10,127,042 1.114,211 1,034,970 2,303,702 2,218.196 785,818 563,432 122,304 90,760 333,188 353,241 1,400,850 1,206,281 763,200 881,293 3,702 3,000 1,513,669 2,831,070 715,000 645,000 1.684.343 1.109,031 10,739,987 10,936,274 (43,969) (809,232) 2,187,633 2,287,201 (1.843,228) (2,058,089) (43,805) 344,405 185,307 suo,436 (623,925) 18,460,789 19,084,714 (128,461) 18,332.326 19,084,714 10,351 $_,18.j 643 L I IS $ 18.460.789 13 Exhibit B CITY OF COLUMBIA HEIGHTS, MINNESOTA COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL - GENERAL, SPECIAL REVENUE AND DEBT SERVICE FUNDS FOR THE YEAR ENDED DECEMBER 31, 1989 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. General Fund Variance Favorable Budget Actual (Unfavorable) REVENUES Taxes S 1,848,689 S 1,801,105 S (47,584) Special Assessments Licenses and Permits 149,310 - 142,365 " (6,945) Fines and Forfeitures 119,900 128,188 8,288 Interest 190,000 276,668 86,668 Intergovernmental 3,076,418 3,103,297 26,879 Charges for Services ,1861900 202,972 16,072 Other Revenue 52,300 62,326 10.026 Total Revenues 5,623,517 5,716,921 93,404 EXPENDITURES Current: General Government 1,268,494 1,114,211 154,283 Public Safety 2,504,700 2,303,702 200,998 Public Works 840,768 7859818 54,950 Sanitation 110,373 122,304 (11,931) Library 349,880 333,188 16,692 Parks and Recreation 791,834 653,115 138,719 Other Contingencies - 300,000 - 3,702 " 296,298 Capital Outlay - ' Debt Service: Principal Retirement Interest and Fiscal Charges - Total Expenditures 6.166.049 5,316.040 850,009 Excess (Deficiency) of Revenues Over (Under) Expenditures (542,532) 400,881 943,413 OTHER FINANCING SOURCES (USES) Operating Transfers In 294,357 267,463 (26,894) Operating Transfers Out (439,374) (459,374) (20,000) Total Other Financing Sources (Uses) (145,017) (191,911) (46,894) Excess (deficiency) of Revenues and Other Financing Sources Over (Under) Expenditures and Other Financing Uses (687,549) 208,970 896,519 Fund Balances, Beginning of Year, As Previously Reported 4,508,167 4,508.167 - Adjustment to Defer Revenue " Fund Balance, Beginning of Year as Restated Residual Equity Transfers �_ - - Fund Balaaces, December 31 $ 3.820.618 $ 4.717.137 $ 896.519 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 15 Exhibit C ' Special Revenue Funds Debt Service Fund Variance Variance ' Favorable Favorable Budget Actual (unfavorable) Budget Actual (Unfavorable) ' $ 29,687 $ 29,382 S (305) 5 11308,300 $ 1,009,449 $ (298,851) - - 95,366 736,662 641,296 i 64,532 66,375 1,843 50,000 862,517 852,517 407,694 559,946 152,252 130,000 205,099 75,099 339,810 408,271 68,461 - - - 250,135 290.918 40.783 - 5,463 5.463 11091,858 2,354,892 263.034 1,583,666 2.819,190 1,235,524 735,837 736,296 (459) - - - 495,977 653,698 (157,721) = 63.781 186,058 (122,277) = = - - - 715,000 715,000 - 1,066,968 1,684,343 (617.375) 1.295,595 1,576,052 (280,457) 1,781,966 2.399,343 (617,375) 1 (203,737) (221,160) (17,423) (198,302) 419.847 618,149 136,926 138,395 1,469 868,678 498,218 (370,460) ' (67,017) (128,853) (61.836) (495,625) (1,251.501) (755,876) 69.909 9,542 (60,367) 373.053 (753.283) (1,126,336) (133,828) (211,618) (77,790) 174,751 (333,436) (508.187) ' 790.024 790.024 - 12.999.367 12.999,367 - (128,461) (128,461) - 661,563 661,563 - 12,999.367 12,999.367 - 10,855 10.855 $ 527.735 $ 460.800 $ (66.935) $ 13.174.118 $ 12.665.931 $ (508.187) 15 THIS PAGE LEFT BLANK MENTIONALLY 16 Exhibit D CITY OF COLUMBIA HEIGHTS, MINNESOTA ALL PROPRIETARY FUND TYPES COMBINED STATEMENT OF 'REVENUES, EXPENDITURES AND CHANGES IN RETAINED EARNINGS FOR THE YEAR ENDED DECEMBER 31, 1989 VITH COMPARATIVE TOTALS FOR THE YEAR ENDED DECEMBER 31, 1988 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 17 Totals Internal (Memorandum Only) Enterprise Service 1989 1988 Operating Revenues Charges for Services $ 2,631,584 $ 186,779 $ 2,818,364 $ 29548,331 Charges for Sales 3,695,249 - 3,695,249 3,590,552 Grants 42,146 - 42,146 - Total Operating Revenues 6,368,979 186,779 6,555,758 6,138,883 Operating Expenses Costs of Goods Sold 3,015,661 177,533 3,193,194 3,006,085 Operating Expense 2,749,026 49,699 2,798,725 2,509,670 Depreciation 170,856 .10.092 180,948 179,254 Total Operating Expenses 5,935,543 237,324 6,172,867 5,695,009 Operating Income 433,436 (50,545) 382,891 443,874 Non - Operating Revenues Expenses) Miscellaneous Revenue 16,682 29,604 46,286 30,826 Interest Income 323,178 25,311 348,489 325,243 Miscellaneous Expense (28,073) - (28,073) (1,0.63) Total Non - Operating Revenues (Expenses) 311,78.7 54,915 366,702 355,006 Income Before Operating Transfers 745.,223 4,370 749,593 798,880 Operating Transfers In - - - 162,000 Operating Transfers (Out) (160,358) (184,047) (344,405) (310,933) Net Income (Loss) 584,865 (179,677) 405,188 649,,1947 Credit For Depreciation On Contributed Assets 65,229 - 65,229 65,229 Retained Earnings January 1 6,090,494 495,496 6,585,988 5,870,812 Residual Equity Transfer (10,351) (10,351) - Retained Earnings December 31 $ 6,730,235 $__315,819 $_7,046,054 $ 6,585,988 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 17 CITY OF COLUMBIA HEIGHTS, MINNESOTA ALL PROPRIETARY FUND TYPES COMBINED STATEMENT OF CASH FL09S FOR THE YEAR ENDED DECEMBER 31, 1989 TITB COMPARATIVE TOTALS FOR THE YEAR ENDED DECEMBER 31, 1988 Totals Internal (Memorandum Only) Enterprise Service 1989 1988 Casb Flows From Operating $ 6,470,998 Activities (184,273) Cash Received From Customers $ 6,284,219 Cash Paid to Suppliers for (637,618) Goods and Services (5,262,516) Cash Payments to Employees 30,826 for Services (538,113) Miscellaneous Revenue 16,682 Miscellaneous Expense (28,073) Net Casb Provided By Operating Activities 4729199 Cash Flow From Noncapital 46,286 Financing Activities Miscellaneous Revenue Residual Equity Transfer (10,351) Operating Transfers in from (1,063) Other Funds ' Operating Transfers Out 1801949 to Other Funds (160,358) Cash Flows from Capital and Related Financing Activities Acquisition of Fixed Assets (376,971) Disposition of Fixed Assets 4,184 Cash Flows From Investing •(Increase) in Accounts Receivable Activities: - Interest on Investments 211,911 Net Increase (Decrease) (3,447) In Cash 140,614 Cash, January 1 3,621,328 Casb, December 31 S 3.9E1,942 S 186,779 $ 6,470,998 S 6,091,226 (184,273) (5,446,789) (4,946,095) (99,505 (637,618) (568,727) 29,604 46,286 30,826 (28,073) (1,063) (67,395) 404,804 606,167 Exhibit E I - 162,000 (184,047) (344,405) (310,933) (5,504) (382,475) (481,358) 4,164 16,597 228,508 325,243 (240,349) (99,735) 301,119 457,648 4,278,976 3.977,557 $ 217,299 $ 4,179.241 S 4,278.976 RECONCILIATION OF NET INCOME TO NET CASH PROVIDED BY OPERATING ACTIVITIES Internal Enterprise Service 1989 1988 Operating Income 433,436 (50,545) 382,891 443,874 Adjustments to Reconcile Operating Income to Net Cash Provided by Operartiang Activities 16,662 29,604 46,286 30,826 Miscellaneous Revenue (28,073) (28,073) (1,063) Miscellaneous Expense Depreciation Expense 170,857 10,092 1801949 179,254 Change in Assets and Liabilities: •(Increase) in Accounts Receivable (65,948) - (65,948) (48,733) (Increase) Decrease in Inventories (3,447) (1,442) (4,889) 71,861 Increase (Decrease) in Accounts Payable (1A,830) (8,702) (19,512) (98,758) Increase (Decrease) in Accrued Salaries and vitholdings Payable 16,040 172 16,212 27,669 Increase (Decrease) in Due to Other Governmental (1,113) - (1,113) 2,985 Units Increase (Decrease) in Due from Other Governmental (4,517) - (4,517) (3,024) Units Increase (Decrease)in Prepaid (50,908) (46,574) (97,482) 1,07E Expense Total Adjustments (38,763) (16,830) (21,913) 162,293 Net Cash Provided By Operating Activities $ 472.199 $ (67,395) S 404,804 $ 606.167 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. C L �J G11Z Ur LiVl.UIIblO UZLWO1.7, aA.Maravan NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 1. Summary of Significant Accounting Policies The City of Columbia Heights was-incorporated in 1898. The City is governed by a council composed of an elected mayor and four council members. The Council exercises legislative authority and determines all matters of ' policy. The City Manager, who is appointed by the Council,•is responsible for the proper administration of all affairs relating to the City. The financial reporting policies of the City conform to generally accepted ' accounting principles. The following is a summary of significant policies. A. Financial Reporting Entity ' In accordance with the Codification of Governmental Accounting and Reporting Standards, Section 2100, "Defining the Reporting Entity,' for financial reporting purposes, the City's financial statements include all funds, account groups, departments, agencies, boards, commissions and other organizations over which City officials exercise oversight responsibility. Oversight responsibility includes such aspects as appointment of governing body members, budget review, approval of property tax levies, outstanding debt secured by the City's full faith and credit or revenues, responsibility for funding deficits, and other. As a result of applying the criteria of Section 2100, certain organizations have been included or excluded from the.City's financial statements: INCLUDED: Entity Reason for Inclusion Housing & Redevelopment Authority The Mayor appoints the governing authority and the City exercises financial oversight. EXCLUDED: Entity Reason for Exclusion Watershed Districts The Watershed Districts are Rice Creek governed by their own elected Six Cities authorities and are supported through their own tax levy authority granted by the Minnesota Statutes. Independent School District School districts are totally #13 independent of all other governing jurisdictions according to Minnesota Statutes.. Police and Fire Department The associations are funded in Relief Associations accordance with Minnesota statutes, whereby state aids flow to the associations; tax levies are determined by the Associations and are only reviewed by the City. The 19 CITY OF COLUMBIA HEIGHTS, MINNESOTA , NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 (CONTINUED) Associations may certify tax levies to the County directly if the City does not carry out this function. The Associations are, therefore, able to fund their programs independently of the City. B. Basis of Presentation - Fund Accounting , The Accounts of the City of Columbia Heights are organized on the basis of funds and account groups, each of which is considered a separate ' accounting entity. The operations of each fund are accounted for with a separate set of self - balancing accounts that comprise its assets, liabilities, fund equity, revenues and expenditures. Government resources are allocated to and accounted for in individual ' funds based upon the purposes for which they are to be spent and the means by which spending activities are controlled. ' The various funds and account groups are grouped in this report into seven generic fund types, three broad fund categories, and two account groups. A description of the fund types and account groups used by the City follows. Governmental Fund Types: General Fund - The General Fund is the general operating fund of the City. It is used to account for all financial resources except those required to be accounted for in another fund. ' Special Revenue Funds - Special Revenue Funds are used to account for the proceeds of specific revenue sources (other than expendable trusts or major capital projects) that are legally restricted to expenditures for specified purposes. Debt Service Funds - Debt Service Funds are used to account for the accumulation of resources for, and the payment of all general long -term debt principal, interest and related costs. Capital'Projects Funds - Capital Projects Funds are used to account for financial resources to be used for the acquisition or construction of major capital facilities, other than those financed by Proprietary Funds. r Proprietary Fund Types: Enterprise Funds - Enterprise Funds are used to account for operations that are financed and operated in a manner similar to private business enterprises -where the intent of the governing body is that the costs of providing goods or services to the general public on a continuing basis be financed or recovered primarily through user charges. 20 1 CITY OF COLUMBIA HEIGHTS, MINNESOTA ' NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 (CONTINUED) ' Internal Service Funds - Internal Service Funds are used to account for the costs of providing goods or services to other departments or agencies of the City. Charges to other City departments are made to support these activities. Fiduciary Fund Types: ' Agency Funds - Agency Funds are used to account for assets held by the City as an agent for individuals, private organizations, other governments or other funds. Agency Funds are custodial in nature ' (assets equal liabilities) and do not involve measurement of results of operations. ' Account Groups: General Fixed Asset Account Group - This account group is used to account for all of the fixed assets of the governmental fund types. General Long -Term Debt Account Group - This account group is used to account for all of the City's long -term obligations, other than those liabilities of proprietary fund types. C. Basis of Accounting ' Basis of accounting refers to the time at which revenues and expenditures are recognized in the accounts and reported in the financial statements, regardless of the measurement focus applied. All governmental and agency funds are reported on the modified accrual basis of. accounting. Governmental.fund revenues are recognized when they;` become measurable and available. Available means collectible within the ' current period or soon enough thereafter to be used to pay liabilities of the current period. Revenue sources susceptible to accrual include property taxes, intergovernmental revenue, and investment earnings. Expenditures are recognized when a liability is incurred, except for ' principal and interest on general long -term obligations which are recognized when due. Compensated absences are considered expenditures when paid to employees. Proprietary funds are accounted for using the "capital maintenance" measurement focus and are reported on the accrual basis of accounting. Revenues are recognized when they are earned and expenses are recorded at ' the time liabilities are incurred. D. Budgetary Data The City Council annually adopts budgets prior to January 1 for the general, certain special revenue and debt service funds. The budgets are prepared by fund, function and activity. The budgets are adopted on a ' basic consistent with generally accepted accounting principles and all appropriations lapse at the end of the budget year to the extent that they have not been expended. 1 21 CITY OF COLUMBIA HEIGHTS, MINNESOTA NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 (CONTINUED) Formal budgetary integration is employed as a management control device during the year. Budget revisions are authorized by the City Council in accordance with the City Charter at the.request of the City. Manager. Amounts shown in the financial statements represent the original budgeted amounts and the following increases (decreases) in appropriations: General Fund $ 673,526 Special Revenue Funds: State Aid Maintenance 9,847 Cable Television 11,888 Para Transit 698 Recreation 60,021 Debt Service Funds 5,062 Total $ 761.042 The City did not budget for all the Special Revenue Funds and accordingly the applicable columns of the Combined Statement of Revenues, Expenditures, and Changes in Fund Balances- Budget and Actual exclude amounts relating to the unbudgeted funds. A reconciliation of actual results for budgeted and unbudgeted special revenue funds follows: Fund Residual Balance Equity (Deficit) Fund Revenues Expenditures Transfers Dec. 31 Special Revenue: Budgeted Funds $ 1,354,892 $ 1,576,052 $ 10,855 $ 460,800 Unbudgeted Funds Incentive Grant - - 2,715 - , Public Information and Educ. Grant - - (3,219) - Contributed Projects 18,485 851 - 17,634 Special Projects 10,120 11,439 - (8) Unbudgeted Housing and Redevelopment Authority Funds 237,605 264,434 - 234,451 Total $_1,621 102 $ 1,852,776 $ 10.351 $ 712.877 22 1 CITY OF COLUMBIA HEIGHTS, KI NNE SOTA ' NOTES TO THE FINANCIAL.STATEMENTS DECEMBER 31, 1989 ' (CONTINUED) ' E. Assets, Liabilities, and Fund Equity Accounts 1. Assets Cash and Investments Cash balances from all funds are combined and invested to the extent available in allowable.investments. Investments are stated at cost which approximates market value. Earnings on investments are allocated to the individual funds on the basis of applicable cash participation by each fund using an average of monthly beginning cash ' and investment balances. Assets of the deferred compensation plans are held by trustees and are reported at market value in an Agency Fund. ' Special Assessments Receivable Special Assessments represent the financing for public improvements paid for by benefitting property owners. These assessments are recorded as receivables upon certification of each.project. The corresponding revenue from the delinquent (unremitted) and deferred (certified but not yet levied) special assessments receivable is I deferred until the year it becomes available (collected within 60 days of year end). Inventories Inventories are valued at cost, which approximates market, using the first -in, first -out basis. Fixed Assets ' a. General Fixed Assets Account Group - All purchased fixed assets are valued at historical cost or estimated historical cost. The costs of property, plant and equipment are accounted for as current expenditures of the governmental fund types in the year purchased. ' The City has elected not to record infrastructure fixed assets in its accounting records. ' No depreciation has been provided on general fixed assets. b. Proprietary Fund Types - Fixed assets of the proprietary funds are stated at cost,.estimated cost or, in the case of ' contributions, at fair market value at the time received. Depreciation has been provided using the straight -line method over the estimated useful lives of assets as follows: Buildings 40 to Machinery and equipment 3 to Improvements 5 to Distribution System 50 to Depreciation on contributed assets to the contributed equity account. 1 23 50 years 20 years 20 years 100 years charged to operations is closed CITY OF COLUMBIA HEIGHTS, MINNESOTA NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 (CONTINUED) 2. Liabilities Long -term liabilities expected to be financed from governmental funds are accounted for in the General Long -Term Debt Account Group, not in the governmental funds. The liability for the vested portion of accumulated vacation and sick leave is recorded in the General Long -Term Debt Account Group. No expenditure is reported for these amounts. Vested or accumulated vacation leave of proprietary funds is recorded as an expense and liability of those funds as the benefits accrue to employees. No liability is recorded for nonvesting accumulating rights to receive sick pay benefits. However, a liability is recognized for that portion of accumulating sick leave benefits that it is estimated will be taken as "terminal leave" prior to retirement. 3. Fund Equity Fund Equity is divided into sections: Investment in general fixed assets represents the City's equity in general fixed assets. Contributed capital is recorded in proprietary funds that have received capital grants or contributions from developers, customers or other funds. Fund balance accounts are subdivided: Reserved fund balance accounts indicate that portion of fund equity which has been legally segregated for specific purposes or is not appropriable for expenditure. Unreserved designated fund balance accounts indicate that portion of fund equity that the City has set aside for planned future projects. Unreserved undesignated fund balance accounts indicate that portion of fund equity which is available for budgeting and expending in future periods. F. Revenues and Expenditures 1. Revenues Property Taxes Property tax levies are set by the City Council in October each year and are certified to Anoka County for collection the following year. In Minnesota, counties act as collection agents for all.property taxes. The County spreads the levies over all taxable property in the City. Such taxes become receivables of the City and attach an enforceable lien on taxable property within the City as of January 1. 24 CITY Ur GOLUMMA U51UUWb, atnnr.sv e NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 (CONTINUED) Property taxes are payable in equal installments by property owners to the County as follows: Personal Property - February 28 and June 30 Real Property - May 15 and October 15 The County remits the collections to the City and other taxing , districts four times a year, on or before January 25, April 19, July 5 and December 4. Unpaid taxes at December 31 become delinquent and are classified in the financial statements as delinquent taxes receivable. Property taxes are recognized as revenue to the extent collected in the current period. Portions paid by the state in the form of state paid.tax credits are included in intergovernmental revenues. That portion of property taxes receivable but not available (not collected within 60 days of year -end) is recorded_ as deferred revenue and will be recognized as revenue in the fiscal year that it becomes available. Intergovernmental.Revenues Intergovernmental revenues are reported using the guidelines of legal and contractual requirements of the individual programs. Other Revenues Other revenues, such as licenses and permits, fees for services, fines and forfeits, and miscellaneous revenues are recognized when received in cash because they generally are not measurable until received. Investment income is recognized as earned since it is measurable and available. 2. Expenditures Expenditure recognition for governmental fund types includes only amounts represented by current liabilities. G. Total Columns on Combined Statements Total columns on the combined statements are captioned "Totals (Memorandum Only)" to indicate that they are presented only to facilitate financial analysis. Data in these columns do not present financial position or results of operation 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 these data. 25 CITY OF COLUMBIA HEIGHTS, MINNESOTA NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 (CONTINUED) H. Comparative Data Comparative total data for the prior year have been presented in the accompanying financial statements to provide an understanding of changes in the City's financial position and operations. Amounts in the 1988 financial statements have been reclassified to conform with the 1989 classification. However, comparative data for each fund type have not been presented in the combined statements since their inclusion could make the statements unduly complex and difficult to read. I. Statement of Cash Flows During 1989, the Government Accounting Standards Board adopted a new pronouncement which replaces the Statement of Changes in Financial Position with the Statement of Cash Flows for Proprietary Funds for years beginning after December 15, 1989. The City has elected early adoption of the pronouncement, as recommended by the Government Accounting Standards Board. Comparative data presented has been restated to conform with the current year presentation. For purposes of the Statement of Cash Flows, the City considers all highly liquid debt instruments with a maturity of three months or less to be cash equivalents. The Proprietary Funds' equity in the City -wide cash and investment management pool is considered to be cash equivalents. 2. Cash and Investments The City maintains a cash and investment pool that is available for use by all funds. Each fund type's portion of this pool is displayed on the combined balance sheet as "Cash and Investments ". An indication of the level of risk assumed by the City at year -end is categorized as follows for the City's cash and investments: A. Deposits In accordance with applicable Minnesota Statutes, the City maintains deposits at depository banks authorized by the City Council. Minnesota Statutes require that all deposits be protected by insurance, surety bond or collateral. The market value of collateral pledged must equal 1101 of the deposits not covered by insurance or bonds (1401 in the case of mortgage- backed collateral). 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 or in a financial institution other than that furnishing the collateral. 26 CITY OF COLUMBIA HEIGHTS, MINNESOTA ' NOTES TO THE FINANCIAL STATEN ENT S DECEMBER 31, 1989 ' (CONTINUED) Deposit balances at December 31, 1989, are as follows: Bank Carrying ' Balance Amount City bank deposits (checking ' accounts, savings accounts, certificates of deposit) $ 879,298 $ 349,446 HRA bank deposits (checking accounts, savings accounts, ' certificates of deposit) 708,133 686,418 $1.587,431 $1,035.864 collateralized b At December 31, 1989, all City deposits were insured or collate y securities held by the City's agent in the City's name, and all HRA ' deposits were insured or collateralized by securities held by HRA's agent in the HRA's name. B. Cash on Hand ' Cash in the possession of the City and HRA, consisting of petty cash and change funds, at year -end was as follows: ' City cash on hand; $5,500 HRA cash on hand: 50 $5,550 ' C.Investments The City may also invest idle funds as authorized by Minnesota Statutes, as follows: Direct obligations or obligations guaranteed by the United ' States or its agencies; shares of investment companies registered under the Federal Investment Company Act of 1940 and whose only investments are in securities described above; general obligations of the state of ' Minnesota or any of its municipalities; bankers' acceptances of United States' banks eligible for purchase by the Federal Reserve System; commercial paper issued by United States' corporations or their Canadian subsidiaries, of the highest quality, and maturing in 270 days or less; ' repurchase or reverse purchase 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, or certain Minnesota securities broker - dealers; and futures contracts sold under authority of Minnesota Statutes Section 471.56, Subdivision 5. 27 CITY OF COLUMBIA HEIGHTS, MINNESOTA NOTES TO THE FINANCIAL STATEMENTS , DECEMBER 31, 1989 (CONTINUED) , The City's investments are categorized below to give an indication of the ' level of 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 and , 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. Cash and investment balances at December 31, 1 1989, are as follows: I U.S. Government Securities Brokered Certificate of Deposit Investment Pool Total Investments Deposits and Cash On Sand Total Cash and Investments Assets Held by Deferred Compensation Trustee Credit Risk Category Carrying Market 1 2 3 Value Value ' $18,260,866 $ - $ 91,914 $18,352,7 80 $18,431,933 3,145,379 - - $21,406.245 $ - $ 91,914 28 3,145.379 21,498,159 230,582 3,302,772 21,734,705 230,582 21,728,741 $21,965,287 1,041,414 $22,770,155 $ 598,309 $ 598,309 CITY OF COLUMBIA HEIGHTS. MINNESOTA ' NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 (CONTINUED) ' 3. Legal Compliance /Budgets Total actual expenditures exceeded budgeted expenditures (appropriations) ' in the following funds: Special Revenue Municipal State -Aid Street $ 143,860 ' Recreation and Community Services Youth Athletics 1,524 Early Childhood and Family Education 8,634 Adventure Club 30,973 Housing and Redevelopment Authority General Fund 158,641 Low Income Housing Fund 26,107 ' Debt Service Special Assessment Refunding Bonds of 1987 355 Tax Increment Bonds of 1980 154 ' Tax Increment Bonds of 1984 1,528 Tax Increment Refunding Bonds of 1987 615,226 Tax Increment Taxable Bonds of 1987 112 ;4. 4. Intergovernmental Receivables ' General Fund Anoka County $ 27,843 ,• City of Hilltop 3,052 $ 30,895 iSpecial Revenue Funds Paratransit - Regional Transit Board 4,770 Senior Citizens - Metropolitan Council 11,232 Early Childhood Family Education - Independent School District 113 71,170 Adult Basic Continuing Education - ' Independent School District 113 3,677 Total City 50,849 HRA Metropolitan Council 10,011 Anoka County CDBG 20,215 Total BRA 30,226 121,075 Enterprise Funds ' Sever - M.W.C.C. 225,305 Refuse - Anoka County 18,812 244,117 $_396,087 29 CITY OF COLUMBIA HEIGHTS, MINNESOTA NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 (CONTINUED) Proprietary Funds Contract Receivable and Deferred Receivable A. Interceptor Acquisition Contract Receivable As of January 1, 1971, the Metropolitan Waste Control Commission (M.W.C.C.) assumed ownership of all existing interceptors and treatment works. Under the terms of the agreement with M.W.C.C., the City is to be reimbursed for the value at the time of transfer of such facilities. The contract represents the value of the facilities acquired by the M.W.C.C. and was determined to be $400,533 at the date of takeover by the M.W.C.C. This amount is being amortized through credits received against annual sewer billings from the M.W.C.C. over a thirty -year period with interest at 42. As of December 31, 1989, a balance of $195,112 remained to be collected over the next twelve years, of which $14,468 is considered a current asset and $180,644 is a long -term asset. In addition, the City had a receivable in the amount of $21,800 from M.W.C.C. at December 31, 1989, under the terms of a Joint Use Rental Agreement related to interceptor maintenance. B. Deferred Receivable The City was required to advance funds to the M.W.C.C. for deferments of reserve capacity costs granted to other communities. The balance of this receivable from the M.W.C.C. at December 31, 1989, was $8,393 and is collectible over the next six years. 5. Loans Receivable Loans receivable for the Housing and Redevelopment Authority Special Revenue Fund consist of the following: Home Improvement Loans Mortgage Loans Anoka County Community Action Program (ACCAP) Loans 30 HRA General Fund $ 22,617 73,312 185,000 $ 280,929 Downtown Development All Funds Fund Total 122,733 $ 22,617 196,045 185,000 $__122,733 $ 403.662 CITY OF COLUMBIA HEIGHTS, MINNESOTA NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 (CONTINUED) Home improvement and mortgage loans receivable are low interest loans made to qualified homeowners. One home improvement loan defaulted in 1986 with a balance of $11,439. Another home improvement loan with a balance of $389 was not covered by a deceased homeowner's estate. Both of these home improvement loans were written off against deferred revenue-in 1989. The HRA loaned $165,000 to ACCAP under the terms of a promissory note dated December 8, 1989, for the rehabilitation of housing units. This note bears interest at 81 and requires monthly payments of principal and interest in the amount-of $1,211 beginning in February, 1990, and ending in January, 2000, when the outstanding principal and accrued interest balance is due in full. An additional $20,000 was loaned to ACCAP under the terms of a separate construction promissory note dated December 8, 1989. This note bears interest at 8% and requires monthly payments of interest only beginning January, 1990, until July, 1990. At that time monthly payments of principal and interest (sufficient to repay the debt in full by December, 2019), must be paid until January, 1999, when the remaining principal and accrued interest balance is due in full. The HRA, at its sole discretion, may extend the balance of both these ACCAP loans for up to an additional ten years beyond their initial due dates. 6. Interfund Receivables and Payables Individual fund interfund receivables and payables at December 31, 1989, consist of the following: General Fund Special Revenue Funds: Housing & Redevelopment Authority General Fund Downtown Development Low Income Housing Agoka County Community Development Block Grant 31 Interfund Interfund Receivables Payables $ 9,977 $ 3,436 10,947 116,669 108,966 25,346 - 3,502 25,346 6,283 $__155,236 $ 155.236 7. ILterfL::id Transfers Operating Transfers From General Fund - Parks General Fund General Fund General Fund General Fund Cei,eiai Fund General Fund Garage Capital Improvement Parks State Aid Maintenance Tax Increment Bonds 1980 Tax Increment Bonds 1980 Tax increment Bonds 1980 Tax Increment Bonds 1980 Debt Service Debt Service Debt Service Debt Service Debt Service Debt Service Debt Service Debt Service Cable T.V. Para Transit Liquor Water Refuse Demonstration Grant Sever Residual Equity Transfers From Refuse v. r. Public Information and Education Grant CITY OF COLUMBIA HEIGHTS, MINNESOTA , NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 (CONTINUED) , To Huset Park Amount Purpose I $ 20.000 Recreation 91,111 Traveling Athletics 4,880 Senior Citizens 30,935 Para Transit 10,000 Capital Improvement Building 237,448 Huset Park 65.000 Capital Improvement Building Capital Improvement Building Capital Improvement Investigation Tax Increment Bonds 1984 Tax Increment Bonds 1985 Tax Increment Bonds 1987A Tax Increment Bonds 1987 Capital Improvement State Aid Construction Capital Improvement Capital Improvement Improvements Capital Improvement Capital Improvement Debt Service Capital Improvement General Fund Debt Service General Fund General Fund Close Projects General Fund General Fund Close Projects General Fund General Fund Administrative General Fund Labor Total Operating Transfers To Demonstration Grant Incen::ive Grant Refuse Total Residual Equity Transfers 32 184,047 3,500 64,611 173,602 219,191 6,673 98,752 603,137 1,469 4,138 4,328 46.288 49,485 1,576 42,862 39,689 6,352 69,341 27,806 35,404 18,201 27,807 $2.187,633 Amount Hazardous Waste Investigation Joint Powers Joint Powers Joint Powers Fund City Portion Expense City Hall and Library Improvements Hazardous Waste Investigation Garage Building Improvements Reallocate Donation Close Projects Debt Service Debt Service Debt Service Debt Service Close Projects Close Projects Close Projects Close Projects Close Projects Close Projects Close Projects Administrative Labor Administrative Labor Administrative Labor Administrative Labor Administrative Labor Administrative Labor. Administrative Labor Administrative Labor Purpose 10,855 Residual Equity 2,715 Residual Equity 3,219 Residual Equity $16.789 blli Vr VVLYaaio ' NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 (CONTINUED) 8. Fixed Assets ' The following is a summary of changes in the General Fixed Assets Account Group during the fiscal year: ' Balance Balance City January 1, 1989 Additions Retirements December 31. 1989 Land S 3.028.500 $ 102,700 $ (66) $ 3.131,134 ' Buildings 2,871,568 6.658 2,878,246 Improvements other than Buildings' 737.148 58,388 795,536 Machinery and Equipment 1,796,285 186,242 (11,292) 1,971,235 Furniture, Fixtures and other equipment 1,030,295 130,546 (3,031) 1,157,810 Construction in Process 1.051,664 9( 2.3470 959.317 ' Total City 10.515.480 484.534 10( 6,736) 10.893.278 BRA ' Land 69,688 - 69,688 2,2 Buildings 2,270,643 10,176 80,819 Machinery and Equipment 280.329 1.330 281.659 Total BRA 2.620.660 11.506 2.632.166 ' Total General Fazed Assets $ 1336 06 .1.140 $ 496.040 $(1.736) $ 13.525.444 ' The following is a summary of Proprietary fund -type fixed assets at December 31, 1989: 9ater Sever Total Internal Total Utility Utility Refuse Liquor Enterprise Service Proprieta n ' Land $ 45,223 $ 36,586 $ _ $ 13.051 $ 94,860 $ - S 94,860 Buildings 213,204 26,940 182,670 422,814 81,877 504,691 Improvements other than Buildings 2,554,365 2,709,872 2,890 99,369 5,366,496 9,071 5,375,567 ' Machinery and Equipment 134,527 259,707 4,188 142,775 541,197 81,624 622,621 Furniture, Fixtures and Office Equipment 31,263 15,047 440 23.513 70,263 13.545 83.808 2,978,582 3.048,152 77518 461,378 6,495,630 186,117 6,681,747 ' Less Accumulated Depreciation 1.355.911 1.600.983 1,177 179.950 3.138.021 97,331 3,235,352 $ 1.622.671 $ 1.447.169 6 6.341 $- 82 1'.428 $_L,357 609 $ 88.786 $ 3.446.395 9. Operating Leases ' The City has leased premises for a liquor store under a five -year lease agreement that expired in 1989. This lease is considered for accounting purposes to be an operating lease. Lease expenditures for the year ended ' December 31, 1989, amounted to $58,250. This lease has been renewed for two years ending December 31, 1991, and contains one 3 -year renewal option. 33 CITY OF COLUMBIA HEIGHTS, MINNESOTA NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 (CONTINUED) 10. Long -Term Debt General Obligation Bonds - The City issues general obligation bonds to provide funds for the acquisition and construction of major capital facilities. In addition, general obligation bonds have been issued to refund general obligation tax increment and general obligation special assessment bonds. General obligation bonds are direct obligations and pledge the full faith and credit of the City. General obligation bonds currently outstanding are as follows: Final Balance Original Interest Issue Maturity End of Issue Hate Date Date Year General Goverment Permanent Improvement Refunding Bonds 1987 General Government Tax Increment Bonds 1980 General Government Tax Increment Bonds 1984 General Government Tax Increment Bonds 1985 General Government Tax Increment Refunding Bonds 1987, Series A General Government Tax Increment Taxable 6 2.230,000 5.50 -6.602 6/1/87 3/1/95 8.175,000 8.00 -8.752 9/1/80 3 /1/02 1.070.000 6.50 -9.402 6/1/84 3/1/94 2.100,000 7.20 -9.002 9/1/85 3/1/02 9,090,000 5.75 -7.502 6/1/87 3/1/02 $ 1,725,000 7.275,000 680,000 1,900.000 9.090,000 Bonds 1987 1,100,000 8.40 -9.102 8/1/87 2/1/97 1.100.000 $21.770.000 Annual debt service requirements to maturity for general obligation bonds including interest of $6,073,154, are as follows in (000's): Fiscal Year Ending December 31 1990 1991 1992 1993 1994 Thereafter Total Total $ 9,039 3,801 1,932 1,916 1,892 9,263 $ 27.843 These figures include refunding payments of $6,925,000 in 1990 for Tax Increment Bonds of 1980 and $1,800,000 in 1991 for Tax Increment Bonds of 1985 to be paid in full from an escrow account managed by Marquette Bank Trust Services. Until the crossover refunding dates, interest payments for Tax Increment Refunding Bonds of 1987 will be paid from interest income generated by the escrow accounts. The refunded bonds of 1980 and 1985 are not considered to have been defeased by the refunding issue and, therefore, have not been removed from general long term debt. 34 CITY OF COLUMBIA HEIGHTS, MINNESOTA NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 (CONTINUED) At December 31, 1989, a total of $12,665,931 is available in Debt Service Funds to service the general obligation special assessment and tax increment' bonds. There are a number of limitation and instructions contained in the various bond indentures. The City is in compliance with all significant limitations and restrictions. The Tax Increment Bonds are payable from the amount of increase in the property taxes on the property in the Tax Increment District. The Special Assessment Bonds are payable primarily from special assessment. Any deficiencies in revenue from these sources will be provided by general property taxes. Liability for Compensated Absences - Upon leaving City employment in good standing, employees shall receive payment based on their most recent level for all vacation leave earned but not taken and for one -third of earned and unused sick leave. The liability represents vested benefits earned by governmental fund employees through the end of the year which will be paid or used in future periods. Long Term Debt Other - The City is the administering authority for the following tax increment finance districts: A. 1977 Downtown CBD Revitalization Plan A3 Type of District: Authorizing Law: Duration of District: Original Tax Capacity: Current Tax Capacity:' Captured Tax Capacity: Total Captured Tax Capacity Retained: Bonds Issued: Principal Payments: Bonds Outstanding at December 31, 1989: 35 Redevelopment HRA (MN Stats. 462.545 and MN Stats. 462.585) August 1, 2009 269,972 1,530,301 1,260,329 1,260,329 19,365,000 1,100,000 18;265,000 CITY OF COLUMBIA HEIGHTS, MINNESOTA NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 (CONTINUED) B. 1984 Modification to the Downtown CBD Revitalization Plan C7 Type of District: Redevelopment Authorizing Law: HRA (MN State. 462.545 and MN State. 462.585) Duration of District% August 1, 2009 Original Tax Capacity: 46,529 Current Tax Capacity: 69,708 Captured Tax Capacity: 23,179 Total Captured Tax Capacity Retained: 23,179 Bonds Issued: -0- Principal Payments: -0- Bonds Outstanding at December 31, 1989 -0- C. 1984 University Avenue Redevelopment C8 Type of District: Redevelopment Authorizing Law: HRA (MN State. 462.545 and MN Stats. 462.585) Duration of District: August 1, 2009 Original Tax Capacity: 31,594 Current Tax Capacity: 180,565 Captured Tax Capacity: 148,971 Total Captured Tax Capacity Retained: 148,971 Bonds Issued: 1,070,000 Principal Payments: 390,000 Bonds Outstanding at December 31, 1989 680,000 36 CITY OF COLUMBIA HEIGHTS, MINNESOTA NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 ' (CONTINUED) tD. 1987 Sullivan Lake Development H2 ' Type of District: Redevelopment Authorizing Law: HRA (MN Stats. 462.545 and MN Stats. 462.585) Duration of District: August 1, 2009 Original Tax Capacity: 49,683 Current Tax Capacity: 49,683 ' Captured Tax Capacity: -0- Total Captured Tax Capacity Retained: -0- Bonds Issued: 1,100,000 Principal Payments: -0- Bonds Outstanding at December 31, 1989 1,100,000 ' All tax increment districts are pooled into one fund. E. 1989 Multi -Use Redevelopment Plan Type of District: Redevelopment ' Authorizing Law: HRA (MN Stats. 469.001 to 469.047 and 469.174 to 4.69.178) Duration of District: October 4, 2014 Original Tax Capacity: 250,460 Current Tax Capacity: 250,460 Captured Tax Capacity: -0- ' Total Captured Tax Capacity Retained: -0- Bonds Issued: -0- ' Principal Payments: -0- Bonds Outstanding at December 31, 1989 -0- ' Type of District 1 37 CITY OF COLUMBIA HEIGHTS, MINNESOTA NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 (CONTINUED) Changes In Long -Term Liabilities - During the year ended December 31, 1989, the following changes occurred in liabilities reported in the General Long -Term Debt Account Group: 11. Fund Equity The following funds had fund deficits as of December 31, 1989: Fund Deficit Special Revenue Municipal State Aid Recreation and Community Service Youth Athletics Traveling Athletics Adult Athletics Special Projects Capital Projects Capital Improvement,Fund 409 38 S 204,308 102 125 159 8 3,507 Balance Balance January 1 Additions Reductions December 31 City Liability for Compen- sated Absences $ 282,236 $ 29,868 $ - $ 312,104 General Obligation Tax Increment Bonds 20,500,000 - (455,000) 20,045,000 General Obligation _ Special Assessment Bonds 1,985,000 - (26_ 0_000) 1,725,000 Total City 22,767,236 29,868 (715,000) 22,082,104 BRA Note Payable (1105 -902) to U. S. Department of Housing and Urban Development; there is no stated due date; interest accrued as of December 31, 1989, totals $47,210 125,905 - - 125,905 Liability for Compen- sated Absences 11,065 - (6,128) 4,937 Total HRA 136,970 - (6,128) 130,842 Total General Long - Term Debt $ 22,904,206 $ 29,868 $ (721,128) $ 22,212,946 11. Fund Equity The following funds had fund deficits as of December 31, 1989: Fund Deficit Special Revenue Municipal State Aid Recreation and Community Service Youth Athletics Traveling Athletics Adult Athletics Special Projects Capital Projects Capital Improvement,Fund 409 38 S 204,308 102 125 159 8 3,507 CITY OF COLUMBIA HEIGHTS, MINNESOTA ' NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 ' (CONTINUED) ' The City will finance these deficits through external or internal sources in future years. ' For various reasons, certain funds have a portion of their fund equity reserved or designated for specific purposes. A discussion of each such item as it appears on the Combined Balance Sheet follows: ' A. Reservation of Retained Earnings Reserve for Insurance - This reserve in the Internal Service Insurance ' Fund represents funds set aside to pay any claims from the period during which the City had no commercial insurance, and funds set aside to.pay any amounts that may arise from a claim that exceeded the limits of current commercial policies. '. B. Reservation of Fund Balances ' Reserve for Community Development -.This reserve in the Housing and Redevelopment Authority's General Fund represents available resources dedicated to community development activities by prior community ' development grants. C. Designated Unreserved Fund Balances ' Designated for Debt Service - These amounts represent fund balances which are presently committed to provide financial resources to pay principal and interest on the City's general obligation bonds. Designated for Subsequent Years' Expenditures - Unspent appropriations lapse at year end. Amounts which are reappropriated in the next year's budget are reported as fund balance designations. 12. Segment Information - Enterprise Funds ' The City maintains four enterprise funds which are intended to be self- supporting. Financial segment information as of and for the year ended December 31, 1989, is presented below: ' Water Bever Refuse Licuor Total Operating Revenues $ 879,566 S 876.243 $ 917,921 6 31695,249 $ 6.366.979 Depreciation Expense 56,391 80,704 636 33.126 170,857 ' Operating Income 35,479 68,658 100.442 228,857 433,436 Net Income 40.802 244,133 68,565 231.365 584.865 Operating Transfers (Out) (27,806) (27.607) (35,404) (69,341) (160,358) Property. Plant and Equipment Additions 103,805 197,948 2,000 73.218 376.971 Net Working Capital 795,847 2,657,494 183,317 1.314.891 4.951.549 ' Cash Provided by Operating Activities 87.624 67,417 99,377 217,781 472,199 Total Assets 2,502,426 4.308..672 190,359 1.764,116 8,765,573 Total Equity - Contributed 935,690 623,877 - 1,739,567 1 Total Lquity - Retained Earnings 1.482,828 3,461,430 169,658 1.596,319 6,730,235 M CITY OF COLUMBIA HEIGHTS, MINNESOTA NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 (CONTINUED) 13. Defined Benefit Pension Plans - Statevide A. Plan Description All full -time and certain part -time employees of the City of Columbia Heights are covered by defined benefit pension plans administered by the Public Employees Retirement Association of Minnesota (PERA). PERA administers the Public Employees Retirement Fund (PERF) and the Public Employees Police and Fire Fund (PEPFF) which are cost - sharing multiple- employer retirement plans. PERF members belong to either the Coordinated Plan or the Basic Plan. Coordinated members are covered by Social Security and Basic members are not. All new members must participate in the Coordinated Plan. All police officers, fire fighters and peace officers who qualify for membership by statute are covered by the PEPFF. The payroll for employees covered by PERF and PEPFF for the year ended December 31, 1989, was $2,349,897 and $850,484, respectively; the City's total payroll was $3,923,114. 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 average salary for any five successive years of allowable service, age, and years of credit at termination of service. Two methods are used to compute benefits for Coordinated and Basic members. The retiring member receives the higher of step -rate benefit accrual formula (Method 1) or a level accrual formula (Method 2). Under Method 1, the annuity accrual rate for a Basic member is 2 percent of the average salary for each of the first 10 years of service and 2.5 percent for each remaining year. For a Coordinated member, the annuity accrual rate is 1 percent of the average salary for each of the first 10 years and 1.5 percent for each remaining year. Using Method 2, the annuity accrual rate is 2.5 percent of average salary for Basic members and 1:5 percent for Coordinated members. For PEPFF members, the annuity accrual rate is 2.5 percent for each of the first 25 years and 2 percent for each remaining year. For PERF members whose annuity is calculated using Method 1, and for all PEPFF members, a full annuity is available when age plus years of service equal 90. There are different types of annuities available to members upon retirement. A normal annuity is a lifetime annuity that ceases upon the death of the retiree. No survivor annuity is payable. There are also various types of joint and survivor annuity options available which will reduce the monthly normal annuity amount, because the annuity is payable over joint lives. Members may also leave their contributions in the fund upon termination of public service, in order to qualify for a deferred annuity at any time to members who leave public service, but before retirement benefits begin. Refunds of contributions are available at any time to members who leave public service, but before retirement benefits begin. 40 L:1Ti OF UULUnDIA nalbnaa. JM.Lnnaavan NOTES TO THE FINANCIAL STATEMENTS ' DECEMBER 31, 1989 (CONTINUED) B. Contributions Required and Contributions Made Minnesota Statutes Chapter 353 sets the rates for employer and employee contributions. The City makes annual contributions to the pension plans equal to the amount required by state statutes. According to Minnesota Statutes Chapter 356.215, Subd. 4(g), the date of full funding required for the PERF and the PEPFF is the year 2020. As part of the annual actuarial valuation, PERA's actuary determines the sufficiency of the statutory contribution rates towards meeting the required full funding deadline. The actuary compares the actual contribution rate to a "required" contribution rate. Current combined statutory contribution rates and actuarily required contribution rates for the plans are as follows: The City's contribution (employers share) for the year ended December 31, 1989, to the PERF represented 0.27 percent of total contributions required of all participating entities. For the PEPFF, contributions for the year ended December 31, 1989, represented 0.77 percent of total contributions required of all participating entities. 41 Statutory Rates: Required Employees Employer Rates PERF (Basic and Coordinated Plans) 4.272 4.672 9.421 PEPFF 8.002 12.002 16.692 Total contributions made by the City during fiscal year 1989 were: Percentage of Amounts Covered Payroll Employees Employer Employees Employer PERF $ 108,644 $ 1219257 4.622 5.162 PEPFF 68,039 102,008 8.002 11.992 Totals $ 176,683 $_223,265. The City's contribution (employers share) for the year ended December 31, 1989, to the PERF represented 0.27 percent of total contributions required of all participating entities. For the PEPFF, contributions for the year ended December 31, 1989, represented 0.77 percent of total contributions required of all participating entities. 41 CITY OF COLUMBIA HEIGHTS, MINNESOTA NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 (CONTINUED) C. Funding Status and Progress 1. Pension Benefit Obligation The "pension benefit obligation" is a standardized disclosure measure of the present value of pension benefits, adjusted for the effects of projected salary increases and step -rate benefits, estimated to be payable in the future as a result of employee service to date The measure, which is the actuarial present value of credited projected benefits, is intended to help users assess PERA's funding status on a going- concern basis, assess progress made in accumulating sufficient assets to pay benefits when due,and make comparisons among Public Employees Retirement Systems and among employers. PERA does not make separate measurements of assets and pension benefit obligation for individual employers. The pension benefit obligations as of June 30, 1989, are shown below: Total Pension Benefit Obligation Net Assets Available For Benefits, At Cost (Market Value for PERF - $3,801,129; PEPFF - $694,227) Unfunded (Assets In Excess Of) Pension Benefit Obligation PERF PEPFF (In Thousands) $ 3,714,257 $ 582,299 2,934,977 637,868 $ 779,280 $ (55,569) The measurement of the pension benefit obligation is actuarial valuation as of June 30, 1989. Net assets pension benefits were valued as of June 30, 1989. 2. Changes In Actuarial Methods and Benefit Provisions based on an , available to pay A number of benefit improvements became effective during fiscal year , 1989. Some of the major improvements affecting each fund include a reduction in the period required for vesting.from five years to three years; an option for members hired before July 1, 1989, to have their annuity calculated under a level benefit accrual formula; the interest ' rate credited on refunds of member contributions increased from 5 percent to 6 percent; and the provision for an automatic bounce -back feature for all joint and survivor annuity options. In the PEPFF, age , and /or service requirements were reduced for eligibility for a normal retirement annuity, and early retirement annuity, and for certain disability and survivor benefits. 42 1 CITY OF COLUMBIA HEIGHTS, MINNESOTA NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 (CONTINUED) ' For each fund, there were changes in the actuarial assumptions used in the annual actuarial valuation. Effective for all funds beginning in fiscal year 1989, the pre- retirement interest rate assumption was increased from 8 percent to 8.5 percent. Additionally for the PERF and the PEPFF, the amortization target date has been changed to 2020. Shown below are the effects on the pension benefit obligation of these changes in plan benefits and actuarial assumptions. Increase (Decrease) in Pension Benefit Obligation Due To: ' PERF PEPFF (In Thousands) Changes in Plan Benefits $ 127,472 $ 27,851 Changes in Actuarial Assumptions (84,154) (25,963) ' Net Increase in Pension Benefit Obligation $ 43,318 ' D. Ten -Year Historical Trend Information Ten -year historical trend information is presented in PERA's ' Comprehensive Annual Financial Report for the year ended June 30, 1989. This information is useful in assessing the pension plan's accumulation of sufficient assets to pay pension benefits as they become due. ' E. Related Party Investments As of June 30, 1989, and for the fiscal year then ended, PERA held no ' securities issued by the City or other related parties. ' 14. Defined Benefit Pension Plans - Fire Relief Association, Volunteer Division A. Plan Description ' Volunteer firefighters of the City of Columbia Heights are members of the Columbia Heights Fire Department Relief Association, Volunteer Division. The Division maintains a single - employer defined benefit ' pension.plan. It is governed by a Board of Trustees composed of the members of the Columbia Heights City Council. The City Manager, Clerk- Treasurer, Chief of the Fire Department and the Public Safety ' Director of the City are ex- offico members of the Board of Trustees. The City's payroll for members of the Volunteer Relief Association for the year ended December 31, 1989, was $59,951 compared to a total City payroll of.$3,923,114. 1 43 CITY OF COLUMBIA HEIGHTS, MINNESOTA NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 (CONTINUED) B. Pension Benefits The bylaws, as amended in August 1989, provide for monthly pensions of $16 per year of service, for up to 30 years of service, for all Division members. Alternatively, members may elect a lump sum payment of $2,300 per year of service. Both monthly and lump sum pensions begin vesting after 10 years of service and are fully vested after 20 years. Benefits are payable after retiree is at least 50 years old. The plan also provides for disability and survivor benefits. The City of Columbia Heights levies property taxes at the direction of and for the benefits of the Fire Relief Association, Volunteer Division and passes through State Aids allocated to the plan, all in accordance with enabling State Statutes. C. Contributions Required and Contributions Made The Division's funding policy provides for periodic City contributions in accordance with state statutes. The minimum actuarially determined contribution required by statutes is the annual normal cost plus amortization of any unfunded actuarial liability. During the year ended December 31, 1989, the contribution of $14,325, totally paid by the City of Columbia Heights, was made in accordance with contribution requirements determined by an actuarial valuation of the plan as of January 1, 1988. The contribution represents normal cost only, since there was no unfunded actuarial liability. Benefits and contributions are not based on payroll; accordingly, there is no covered payroll. D. Funding Status The Governmental Accounting Standards Board (GASB) requires disclosure of the total pension benefit obligation as determined by a standardized measurement of the actuarial present value of credited projected benefits. This pension valuation method reflects the present value of estimated pension benefits that will be paid in future years as a result of employee services performed to date A standardized measure of the pension benefit obligation was adopted by GASB to enable readers of the financial statements to (1) assess the Association's funding status on a going- concern basis, (2) assess progress made in accumulating sufficient assets to pay benefits when due, and (3) make comparisons among relief associations. This measurement is independent of the funding method used to determine required contributions. 44 UITY Ur UuLuftVLA nztvnt0, atnnz0Win NOTES TO THE FINANCIAL STATEMENTS DECEMBER.31, 1989 (CONTINUED) The pension benefit obligation for the Volunteer Division was last calculated as part of an actuarial valuation of the plan as of December 31, 1986. During 1989, the Division's by -laws were amended, substantially increasing the benefit provisions of the plan. The Division is in the process of obtaining a valuation as of December 31, 1989. Therefore, pension benefit obligation disclosures required by the Governmental Accounting Standards Board are not available. The actuarial accrued liability using the entry age normal cost method is presented as an acceptable substitute disclosure. Significant actuarial assumptions include (a) a rate of return on the investment of present and future assets of 5.02 per year compounded annually, (b) retirement at age 52 after completing 20 years of service. These assumptions were the same as the assumptions used to compute pension contribution requirements. The actuarial accrued liability at December 31, 1989, is based on an actuarial valuation of the plan as of January 1, 1988, Performed in anticipation of amending the plan benefits. The liability at the beginning of each year (adjusted for the benefit increase) plus normal cost was multiplied by 1.05. The liability each year was reduced by benefits paid multiplied by 1.025. Actuarial Accrued Liability at December 31, 1989: Retirants and beneficiaries currently receiving benefits Current Employees Total Actuarial Accrued Liability Net assets available for benefits, at cost (market value was $826,467) Assets in excess of the Actuarial Accrued Liability $ 329,314 365,748 695,062 806,499 $ 111.437 Changes in the benefit provisions during 1989, increasing monthly service and lump sum benefits, increased the actuarial accrued liability at December 31, 1989, by approximately $220,000. E. Historical Trend Information Ten -year historical trend information is presented in the Relief Association's Annual Financial Report. This information is useful in assessing the pension plan's accumulation of sufficient assets to pay pension benefits as they become due. For the three years ended 1989, 1988 and 1987 respectively, available assets were sufficient to fund 116, 177, and 179 percent of the actuarial liability. . 45 CITY OF COLUMBIA HEIGHTS, MINNESOTA NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 (CONTINUED) F. Related Party Investments During 1989, the Association held no securities issued by the City or other related parties. 15. Defined Benefit Pension Plans - Fire Relief Association, Paid Division A. Plan Description Paid full -time regular firefighters of the City of Columbia Heights first employed by the City on or prior to December 31, 1974, are members of the Columbia Heights Fire Relief Association, Paid Division. The Division maintains a single - employer defined benefit pension plan. Marquette Bank acts as trustee for the beneficiaries. The City's payroll for members of the Paid Relief Association for the year ended December 31, 1989, was $41,354 compared to a total City payroll of $3,923,114. B. Pension Benefits A firefighter who completes at least 20 years of service as an active member of the Columbia Heights Fire Department and has been a member of the Relief Association for at least 20 years, after age 50, is entitled to a full service pension upon retirement. For the first 20 years of service, the individual is entitled to 35/80 of base pay (base pay is defined as the salary of a first grade.fireman). For each year in excess of 20, an additional 1/80 is added up to a maximum of 45/80 of base pay for 30 or more years of service. In addition and not subject to the above maximum, for each year over 25, a benefit of 1 /2X of base pay is added to the benefit. (The additional benefit is not subject to the post retirement adjustment provisions.) A member is entitled to disability benefits as follows: a. less than 10 years service - 30/80 of base pay b. 10 to 15 years service - 35/80 of base pay c. 15 or more years service - 40/80 of base pay to age 50 at which time the benefit is recomputed based on service assuming a minimum of 20 years of service. Post - retirement adjustments ( "Escalator "): Each time base pay is changed, payments to all benefit recipients are simultaneously changed by the same percent that base pay is changed. C. Contributions Required and Contributions Made The Association's funding policy provides for periodic employer contributions at actuarily determined rates that, expressed as percentages of annual covered payroll, are designed to accumulate sufficient assets to pay benefits when due. The normal cost and actuarial accrued liability are determined using an entry age actuarial funding method. Unfunded actuarial accrued liabilities are being amortized as a level dollar amount over a period of 20 years. 46 CITY OF COLUMBIA HEIGHTS, MINNESOTA ' MOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 ' (CONTINUED) ' During the year ended December 31, 1989, contributions totaling $114,488 ($114,201 employer and $287 employee) were made in accordance with contribution requirements determined by an actuarial valuation of the ' plan as of December 31, 1987. Employer contributions represented 3382 of current covered payroll. The employer contributions consisted of $7,088 for normal cost (21 percent of current covered payroll) and $107,304 for amortization of unfunded actuarial accrued liability (317 ' percent of current covered payroll). Significant actuarial assumptions used to compute contribution requirements were the same as those used to compute the standardized measure of the pension benefit obligation. ' D. Funding Status The amount shown below as the "pension benefit obligation" is a standardized disclosure measure of the present value of pension benefits, adjusted for the effects of projected salary increases, estimated to be payable in the future as a result of employee service to ' date. The measure is the actuarial present value of credited projected benefits and is intended to (i) help users assess the plan's funding status on a going- concern basis, (ii) assess progress being made in accumulating sufficient assets to pay benefits when due, and (iii) allow ' for comparisons among public employee retirement plans. The measure is independent of the actuarial funding method used to determine contributions to the plan. The pension benefit obligation was determined as part of an actuarial „valuation of the plan as of December 31, 1989. Significant actuarial assumptions used in determining the pension benefit obligation include (a) a rate of return on the investment of present and future assets of 5.0Z per year compounded annually, (b) projected salary increases of 3.5X per year compounded annually, attributable to inflation, and (c) the assumption that benefits will increase 3.5X per year after ' retirement. At December 31, 1989, the unfunded pension benefit obligation was ■ $941,322, determined as follows: Pension Benefit Obligation: Retirants and beneficiaries currently receiving benefits and terminated employees not yet receiving benefits $ 2,046,864 ' Current employees - Accumulated employee contributions including allocated investment income 30,477 ' Employer financed 236,439 Total Pension Benefit Obligation 2,313,780 ' Net assets available for benefits, at cost (market value was $1,404,746) 1,372,458 Unfunded Pension Benefit Obligation $ 94.1.322 47 CITY OF COLUMBIA HEIGHTS, MINNESOTA ' NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 (CONTINUED) ' ' E. Historical Trend Information Ten -year historical trend information related to the pension plan is .presented in the Relief Association's annual financial report. This ' information is useful in assessing the pension plan's accumulation of sufficient assets to pay pension benefits as they become due. available ' For the three years ended 1989, 1988 and 1987 respectively, assets were sufficient to fund 59.3, 43.7 and 42.2 percent of the pension benefit obligation. Unfunded pension benefit obligation represented 2784.3, 4682.5 and 4860.8 percent of the annual payroll for ' employees covered by the plan for 1989, 1988 and 1987 respectively. Showing unfunded pension obligation as a percentage of annual covered payroll approximately adjusts for the effects of inflation for analysis purposes. In addition, the City's contributions for 1989, 1988 and 1987 ' were 337, 354 and 366 percent respectively, of annual covered payroll. Contributions were made in accordance with actuarially determined requirements. , F. Related Party Investments During 1989, the Association held no securities issued by the City or ' other related parties. 16. Defined Benefit Pension Plans - Police Relief Association ' A. Plan Description All policemen first employed by the City of Columbia Heights on or , before June 15, 1972, are members of the Columbia Heights Police Relief Association. The Association is a single employer pension plan. It is governed by a Board of Directors consisting of members of the t' association regardless of whether such members are active or retired members of the Columbia Heights police department. The City's payroll for members of the Relief Association for the year ended December 31, 1989, was $189,246 compared to a total City payroll of $3,923,114. B. Pension Benefits A policeman who completes at least 20 years as an active member of the , Columbia Heights police department and has been a member of the Relief Association for at least 20 years, after age 50, is entitled to a full service pension upon retirement. The service pension prescribed by the Relief Associations by -laws is 35/80 of base pay (base pay is defined as the salary of a top patrolman). For each year in excess of 20, an additional 1/80 is added up to a maximum of 40/80 of base pay for 25 or more years of service. In addition, and not subject to the above , maximum for each year over 25, a benefit of 1/22 of base pay is added to the benefit. (The additional benefit is not subject to the post- retirement adjustment provisions.) , A member is entitled to disability benefits of 38/80 of salary at the time of the disability., , 48 1 CITY OF COLUMBIA HEIGHTS, MINNESOTA NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 ' (CONTINUED) ' C. Contributions Required and Contributions Made The Association's funding policy provides for periodic employer ' contributions at actuarily determined rates that, expressed as percentages of annual covered payroll, are designed to accumulate sufficient assets to pay benefits when due. 1 During the year ended December 31, 1989, contributions totaling $192,544 ($181,257 employer and $11,287 employee) were made in accordance with contribution requirements determined by an actuarial valuation of the plan as of December 31, 1988. The employer contribution consisted of $39,453 for normal cost and $141,804 for amortization of the unfunded actuarial accrued liability. Employer contributions represented 95.82 of covered payroll. D. Funding Status ' The Governmental Accounting Standards Board (GASB) requires disclosure of the total pension benefit obligation as determined by a standardized measurement of the actuarial present value of estimated pension benefits that will be paid in future years as a result of employee services .' performed to date. A standardized measure of the pension benefit obligation was adopted by GASB to enable readers of the financial statements to (1) assess the Association's funding status on a going- concern basis, (2) assess progress made in accumulating sufficient assets to pay benefits when due, and (3) make comparisons among relief associations. This measurement is independent of the funding method used to determine required contributions. A variety of significant actuarial assumptions are used to determine the standardized measure of the pension benefit obligation and these ' assumptions are as follows: 1. A rate of return on the investment of present and future assets of S.OX per year compounded annually. 2. Projected salary increases of 3.52 per year compounded annually, attributable to inflation. 3. The assumption that benefits will increase 3.52 per year after retirement. 49 CITY OF COLUMBIA HEIGHTS, MINNESOTA NOTES TO THE FINANCIAL STATEN ENT S DECEMBER 31, 1989 (CONTINUED) At December 31, 1988, the latest actuarial valuation available, the unfunded pension benefit obligation was as follows: Retirees and beneficiaries currently receiving benefits and retired policemen entitled to benefits, but not yet receiving them. $ 2,733,888 Current employees - Accumulated employee contributions including allocated investment income 148,666 Employer financed 984,295 Total Pension Benefit Obligation 3,866,849 Net assets available for benefits, at cost (market value was $2,373,247) 2,338,012 - Unfunded Pension Benefit Obligation $ 1,528,837 E. Historical Trend Information Ten -year historical trend information related to the pension plan is presented in the Relief Association's annual financial report. The information is presented to enable the reader to assess the progress made by the plan in accumulating sufficient assets to pay pension benefits as they become due. For the two years ended 1988 and 1987 respectively, available assets were sufficient to fund 60.5 and 56.6 percent of the pension benefit obligation. Unfunded pension benefit obligation represented 890.0 and 983.7 percent of the annual payroll for employees covered by the plan for 1988 and 1987 respectively. In addition, the City's contributions to the plan, all made in accordance with actuarially determined requirements, were 112.9 and 104.6 percent of annual covered payroll for 1988 and 1987 respectively. F. Related Party Investments During 1989, the Association held no securities issued by the City or other related parties. 50 CITY OF COLUMBIA HEIGHTS, MINNESOTA ' NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 ' (CONTINUED) 17. Deferred Compensation Plan The government offers its employees a deferred compensation plan created in ' accordance with Internal Revenue Code Section 457. The plan, available to all government employees, permits them to defer a portion of their salary until future years. Participation in the plan is optional. The deferred compensation is not available to employees until termination, retirement, death or unforeseeable emergency. All amounts of compensation deferred under the plan, all property and rights purchased with those amounts, and all income attributable to those amounts,.property or rights are (until ' paid or made available to the employee or other beneficiary) solely the property and rights of the government subject only to the claims of the government's general creditor. Participants' rights under the plan are equal to those of general creditor of the government in an amount equal to the fair market value of the deferred account for each participant. It is the opinion of management that the government has no liability for ' losses under the plan but does have the duty of due care that would be required of an ordinary prudent investor. The government believes that it is unlikely that it will use the assets to satisfy the claims of general ' creditors in the future. Investments are managed by the plan's trustee under one of four investment options, or a combination thereof. The choice of the investment option(s) ' is-made by the participants. Assets of the plan are reflected in these statements in an Agency Fund at market value. 18. Contingencies Risk Management Although the City carries insurance for current risks, there is no coverage maintained for possible losses arising from occurrences in certain previous years. The City is not aware of any unreported or pending claims which could have a material effect on the City. Existing litigation is discussed ' below. Litigation ' The City had the usual and customary type of miscellaneous claims pending at year -end, mostly of a minor nature and'usually all covered by insurance carried for that purpose. However, the outcome of these cases is unknown. It is not determinable at this time whether unfavorable settlements of the ' claims will exceed insurance coverage. City management believes that the City will not incur any material monetary loss relating to the cases. No loss has been recorded on the City's financial statements relating to the claims. 1 51 CITY OF COLUMBIA HEIGHTS, MINNESOTA ' NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 (CONTINUED) 19. Accounting and Reporting Changes I The Housing and Redevelopment Authority (HRA) of Columbia Heights is a ' component unit of the City reporting entity. Beginning in 1989, the.HRA financial statements have been integrated with the City's statements. The HRA's General and Special Revenue funds have been reported as special revenue funds of the City. The HRA general fixed assets and long -term debt ' have been included in the corresponding City account groups. The effect of this change was to increase the combined beginning balance of the special revenue fund type by $494,974, after giving effect to a change in the way the HRA funds account for revenue from long -term receivables. The accounting change reflects the HRA's deferral of revenue until it becomes available to pay expenditures of the current period. Both the ' accounting and reporting changes are in accordance with generally accepted accounting standards. 20. Joint Powers Agreement I The City of Columbia Heights is a member of a Joint Powers Agreement, ' together with Independent School District 113, which establishes the Columbia Heights and District 113 Recreation and Community Services Commission. The Commission was created to conduct and supervise recreation services and programs for public recreation in its broadest sense, ' including playgrounds, parks, playfields, swimming pools, beaches, camps, indoor recreation centers, and any and all other recreation activities. The City and the School are each entitled to appoint three members to the , Commission. The necessary expenses and operational budget for the purposes of the Commission are to be provided from the funds of the City and the School District. Participation in the budget is to be equal between the two entities. 21. Subsequent Events In March 1990, the HRA issued $2,400,000 Tax Increment Revenue Bonds, ' Series 1990, bearing interest at 6.75 percent, with a nominal maturity date of September 1, 2009, subject to early redemption. The proceeds have been deposited with an escrow agent. The HRA has entered into a remarketing , agreement for these bonds with Miller & Schroeder Financial, Inc. (M & S) . Upon receiving notice from the HRA establishing the remarketing date, M & S will use its best efforts to resell the bonds in the form of capital appreciation bonds maturing September 1, from 2002 through 2009. M & S would receive up to 1.5 percent of the principal amount remarketed as compensation. 52 .Id C THE CITY C OF V GENERAL ,AO M ` B U T- FUND % 1 / E "MM -5PP- G H T S, M N The Home Rule Charter of the City of Columbia Heights provides in Section 69 Subdivision (c)s "A General Fund for the support of such other funds and for the payment of such expenses of the city as the council may deem .proper. Into this fund shall be paid all moneys not herein provided to paid (sic) into any other fund." CITY OF COLUMBIA HEIGHTS, MINNESOTA GENERAL FUND COMPARATIVE BALANCE SHEET DECEMBER 31, 1989 AND 1988 ASSETS Cash and Investments Receivables (net of allowance for uncollectibles): Taxes Interest Accounts Intergovernmental Due From Other Funds Total Assets LIABILITIES AND FUND BALANCE Liabilities: Accounts Payable Accrued Salaries and Vithholdings Payable Due to Other Governmental Units Due to Other Funds Deferred Revenue Total Liabilities FUND BALANCE: Reserved for Encumbrances Unreserved: Designated for Subsequent Year's Expenditures Undesignated Total Fund Balance Total Liabilities and Fund Balance 53 1989 $ 4,669,403 104,392 95,253 60,924 30,895 9,977 $ 4,970,844 $ 73,791 31,147 49,155 3,436 96..178 253,707 286,066 4,431,071 4,717,137 $ 4,970,844 Exhibit F -1 1988 $ 4,772,358 73,640 14,254 20,071 $ 4.8.80,323 $ 232,138 25,106 43,761 71,151 372,156 269,232 92,839 4,146,096 4,508,167 $ 4.880,323 CITY OF COLUMBIA HEIGHTS, MINNESOTA GENERAL FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL FOR THE YEAR ENDED DECEMBER 31, 1989 VITH COMPARATIVE AMOUNTS FOR THE YEAR ENDED DECEMBER 31, 1988 Proceeds From Sale of Variance 1989 1989 Favorable 3.721 Budget Actual (Unfavorable) REVENUES Taxes S 1,848,689 S 1.801,105 S (47,584) Licenses and Permits 149,310 142,365 (6,945) intergovernmental 3,076,418 3,103,297 26,879 Charges for Services 186,900 202,972 16.072 Fines 119,900 128,188 8,288 Interest 190,000 276,668 86,668 Miscellaneous 35,940 34,494 (1.446) Proceeds From Sale of Land 10,360 24,111 13,751 Proceeds From Sale of General Fixed Assets - _ Other Refunds 61000 3.721 Total Revenues 5,623,517 5,716,921 EXPENDITURES Current: General Government: Council 163,362 155,299 Manager 228,385 208,006 Legal 106,050 98,924 Finance and Elections 437,090 422,378 Assessing 88,465 87,805 Planning 17,629 15,446 General Government Buildings 227,513 '126,353 Total General Government 1,268,494 1,114,211 Public Safety: Police - Animal -Civil Defense 1,568.534 1,537,391 Fire 772,990 631,291 Inspections 143,176 135,020 Total Public Safety 2,504,700 2,303,702 Highvays and Streets: Engineering 273,951 250,926 Maintenance 566,817 534,892 Total Highways and Streets 840,768 785,818 Sanitation 110,373 122,304 Parks 791,834 653,115 Library 349,880 333,188 Contingencies 300.000 3.702 Total Expenditures 6.166,049 5.316,040 Excess of Revenues Over (Under) Expenditures (542,532) 400.881 OTHER FINANCING SOURCES (USES) Operating Transfer In 294,357 267,463 Operating Transfer Out (439,374) (459.374) Total Other Financing Sources (Uses) (145.017) (191,911) Excess (Deficiency) of Revenues , and Other Financing Sources Over (Under) Expenditures and Other Financing Uses (687,549) 208.970 Fund Balance, January 1 4.508.167 4.506,167 Fund Balance, December 31 $ 3.820.618 $ 4.7_ 17 137 54 (2,279) 93.404 8,063 20,379 7,126 14,712 660 2,183 101.160 Exhibit F -2 1988 Actual $ 1,783,104 163,384 2,557,860 209.181 112,254 285,347 5,243 80,000 7,294 19.635 5,223,302 125,000 170.490 91.428 395,623 75,873 12,653 163.903 154,283 1,034,970 ' 51,143 1,490,930 141,699 610,054 8,156 117,212 200,998 2,218,196 23,025 149,762 31.925 413,670 54.950 563,432 (11,931) 90,760 138,719 601,489 16,692 353,241 296.298 3 000 850.009 4.865.088 943,413 358,214 (26,894) 422,324 (20,000) (577,655) (46,894) (155,331) 896.519 202,883 4.305.284 $ 8961519 $__4,508,167 Exhibit F -3 CITY OF COLUMBIA HEIGHTS, MINNESOTA GENERAL FUND STATEMENT OF REVENUES - BUDGET AND ACTUAL FOR Tim YEAR ENDED DECENSER 31, 1989 RITE COMPARATIVE AMOUNTS FOR THE YEAR ENDED DECEMBER 31, 1988 55 Variance 1989 1989 Favorable 1988 Budget Actual (Unfavorable) Actual REVENUES Taxes Ad Valorem $ 1,841,689 S 1,793,793 S (47,896) S 1,775,436 Penalties and Interest 7,000 7,312 312 7.668 Total ?awes 1,848,689 1,801,105 (47,584) 1,783,104 Licences and Permits Licenses 67,197 72,404 5,207 67,.451 Permits 82,113 69.961 (12,152) 95.933 Total Licenses and Permits 149,310 142,365 (6,945) 263,384 Intergovernmental Revenue Federal Grants Civil Defense 3,600 4,598 998 3,645 State Grants Local Government Aid 2,332,694 2,329,860 (2,834) 1,770,244 Property Tax Relief 550,000 574,045 24,045 580,240 Law Officer Training 5,000 8,586 3,586 7,704 Police Relief Assoc. 105.191 106,585 1,994 105,158 Fire Relief Assoc. 61,873 61.563 (310) 61,906 Other - - - 10,903 County Aid Stredt Maintenance 18,060 18.060 18,060 Total Intergovernmental Revenue 3,076,418 3,103,297 26,879 2,557,860 Charges for Services General Government 32,930 25,330 (7,600) 61,558 Library 3,500 3,874 374 3,634 Public Safety 76,520 82,067 5,547 71,368 Public Works 25,862 40,508 14,646 23.370 Parks 48,088 51,193 3,105 49,251 Total Charges for Services 186,900 202,972 16,072 209,181 Fines and Forfeits Library 3.707 5,524 1,817 4,718 Public Safety 116,193 122.664 6,471 107,536 Total Fines and Forfeits 119.900 128.188 8.288 112,254 Other Revenue Interest Earned on Investments 190,000 276.668 86,668 285,347 Miscellaneous 35,940 34,494 (1,446) 5.243 Proceeds from Sale of Land 10,360 24.111 13.751 80,000 Proceeds from Sale of Fixed Assets - - - 7,294 Other Refunds 6,000 3,721 (2,279) 29,635 Total Other Revenue 242,300 338,994 96,694 397,519 TOTAL REVENUES $ 5.623.517 S 5.716 :921 $ 93.404 $ .5.223.302 55 CITY OF COLUMBIA HEIGHTS, MINNESOTA GENERAL FUND STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL FOR THE YEAR ENDED DECEMBER 31, 1989 VITH COMPARATIVE AMOUNTS FOR THE YEAR ENDED DECEMBER 31, 1988 EXPENDITURES General Government: Council and Manager Council Manager Legal Total Council and Manager Administrative Services Finance Elections Assessing Planning General Government Buildings Total Administrative Services Total General Government Public Safety: Police Fire Inspections Civil Defense Animal Control Total Public Safety Highways and Streets: Engineering Streets Street Lighting Traffic Signs /Signals Total Highways and Streets Sanitation Parks Library Contingencies Total Expenditures Supplies 1989 Personal and Capital Budget Services Services Outlay 163,362 $ 90,929 228,385 187,734 106,050 - 497,797 278,663 415,774 281,536 21,316 10,656 88,465 44,565 17,629 - 227,513 45,120 770,697 381,877 1,268,494 660,540 1,543,852 1,337,232 772,990 560,922 143,176 110,493 34,332 10,119 10.350 - 2,504,700 2,018,766 273,951 136,208 425,678 183,826 84,062 6,061 57,077 20,153 840.768 346,248 110,373 31,885 791,834 389,570 349,880 203,648 300.000 - $ 6,166,049 $ 3,650.657 56 $ 64,370 20,272 98,924 183,566 49,568 4,843 43,240 14,767 80,078 192,496 376,062 117,303 48,723 16,319 8,576 5.000 195,921 92,786 145,120 73,486 21,431 332.823 90,267 183,804 114,507 3,702 $ 1,297,086 S - 75,775 679 1,155 77,609 77,609 52,031 21,646 8,208 7,130 89,015 21,932 78,162 6,653 106.747 152 79,741 15,033 $ 368,297 Exhibit F -4 Variance 1989 Favorable 1988 Total (Unfavorable) Total $ 155,299 $ 8,063 $ 125,000 208,006 20,379 170,490 98,924 7,126 91,428 462,229 35,568 386,918 406,879 8,895 378,462 15,499 5,817 17,161 8.7,805 660 75,873 15,446 2,183 12,653 126,353 101,160 163,903 651,982 118,715 648,052 1,114,211 154,283 1,034,970 1,506,566 37,286 1,401,390 631,291 141,699 610,054 135,020 8,156 117,212 25,825 8,507 84,808 5,000 5,350 4,732 2,303,702 200,998 2,218,196 250,926 23,025 149,762 407,108 18,570 291,595 79,547 4,515 80,325 48,237 8,840 41,750 785,818 54,950 563,432 122,304 (11,931) 90,760 653,115 138,719 601,489 333,188 16,692 353,241 _ 3,702 296,298 3,000 $ 5,316,040 $ 850,009 $ •4,865,088 57 NI 1 SPECIAL REVENUE FUNDS �� ►i !) Special Revenue Funds are used to account for the I it proceeds of specific revenue sources which finance specified activities as required by law or !� i administrative regulation. I� I Municipal State Aid- maintained according to State Statute for the maintenance and '1 i construction of streets or municipal state- aid systems. " I 1 Cable Television- established to account for �! , !! revenues and expenditures associated with �! I cable television franchise. { Paratransit- established by agreement with the f ' Minnesota Department of Transportation to ! account for the receipt of state grants and I �� I rider fees and expenditures for service. i Contributed Projects- established to monitor (� contributations and related expenditures. Recreation and Community Service Funds- governed ! li !i �j i by a commission established by an agreement I_ between the City and Independent School District �I #13 school board. i j Incentive Grant, Public Information and i i( 141 i Education Grant, Demonstration Grant Funds- i ! ! 1! established to account for the receipt of I �1 ►� grant revenues for recycling and expenditures 1 I� for the promotion of recycling in the city. Housing and Redevelopment Authority- created II �y l in 1969, assists the city in identifying its needs in the areas of housing and community development. Programs provided by the HRA ! include senior housing; rental assistance program; low interest home improvement loan and grant program; and a single family mortgage ! i program to low income families. i CITY OF COLUMBIA HEIGHTS, MINNESOTA SPECIAL REVENUE FUNDS COMBINING BALANCE SHEET AS OF DECEMBER 31, 1989 VITH COMPARATIVE TOTALS FOR DECEMBER 31, 1988 58 Public Information Municipal State Cable Incentive i Education Aid Television Parat_ransit Grant Grant ASSETS Cash and Investments $ (195,561) S 215,566 $ 26,238 $ - $ - Cash and Investments In Escrow Receivables: Taxes - 13,869 107 Accounts - 6,163 504 Interest Loans 4,770 Intergovernmental - Due From Other Funds Prepaid Expense - - Real Estate Held For Resale -- Total Assets 5 (195.561) $ 235.598 $ 31.619 S $ LIABILITIES AND FUND BALANCES LIABILITIES Accounts Payable $ 134 $ 877 $ 3,287 S - $ " Accrued Salaries and _ Withholdings Payable 269 Contracts Payable Retained Percentage 8,344 - Due to Other Government Units Due to Other Funds " 5,400 Deposits Insurance and.Taxes In Escrow Construction Escrow Deferred Revenue - Accrued Interest Payable - Total Liabilities 8.747 6.277 3,287 FUND BALANCES Reserved Unreserved: Designated for Subsequent year's 6,971 10,000 _ Expenditures Undesignated (211,279) 219.321 28,332 - �- Total Fund Balances (204,308) 229,321 28,332 Total Liabilities and Fund Balances S (195.561) $ 235.598 $ 31.619 58 Exhibit G -1 Total Recreation Housing and and Totals Demonstration Contributed Community Redevelop Grant Proiects Services Authority 1989 1988 $ - $ 17,634 $ (24,139) $ 533,443 $ 573,181 S 956,096 - _ 153,025 153,025 - 2,174 2,174 2,408 25.296 333 39,605 74,698 - 1,625 8,292 9,553 - 403,662 403,662 116,633 86,079 30,226 121,075 29,152 - 145,259 145,259 254,052 2,934 2,934 3,058 98,413 98,413 - $ - $ 17,634 $ 87.236 $ 1,371.094 $ 1,547.620 $ 1,445.650 $ _ $ - $ 13,202 $ 15,680 $ 33,160 $ 58,099 2,731 6,130 9,130 5,121 - 8,344 20,767 - 12,584 12,584 12,342 - 151,800 151,800 254,052 - 4,000 9,400 3,739 - 4,657 4,657 234 - 153,025 153,025 - 405,413 405,413 2,149 47.210 47.210 36.028 15,933 800,499 834,743 392,531 - 149,905 149,905 663,568 - _ - 16,971 (146,026) 17,634 71,303 420,690 546,001 535,577 17,634 71,303 570,595 712,877 1,053,119 $ $ 17,634 $ 87.236 $ 1.371,094 $ 1.547,620 $ 1,445.650 59 CITY OF COLUMBIA HEIGHTS, MINNESOTA SPECIAL REVENUE FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES FOR THE YEAR ENDED DECEMBER 31, 1989 TITH COMPARATIVE TOTALS FOR THE YEAR ENDED DECEMBER 31, 1988 Public Municipal Information State Cable Incentive i Education Aid Televon Paratransit Grant Grant_ REVENUES Taxes $ - Intergovernmental 219,551 Interest Earnings - Fees /Program Revenue - Private Grants - Miscellaneous 54,413 Contributions Total Revenues 273,964 ZZPE.RDITURES Personal Services 23,703 Supplies 425 Other Services and Charges 27,835 Capital Outlay 164,081 Other Expenditures Total Expenditures 216,044 Excess of Revenues Over Expenditures 57,920 OTHER FINANCING SOURCES (USES) Operating Transfer In 1,469 Operating Transfer Out (64,611) Settlement on -Consolidated Annual Contributions Contract Total Other Financing Sources (Uses) (63,142) Excess of Revenues and Other Financing Sources Over (Under) Expenditures and Other Financing Uses (5,222) Fund Balances - Beginning of Year as Previously Reported (199,086) Adjustment to Defer Revenue Fund Balance - Beginning of Year, as Restated (199,086) Residual Equity Transfer Fend Balances, December 31 S (204,308) - 21,420 - 17,901 1,465 - 58,685 10,282 - 83 - - 76,869 33,167 - 1,104 - - 2,374 - - 8,977 31,268 - 2,447 - - 14,902 31,268 61,967 1,899 10,000 - - (39,689) (6,352) - (39,689) 3,648 22,278 5,547 - - 207,043 22,785 (2,715) 3,219 207,043 22,785 (2,715) 3,219 2,715 (3,219) S 229321 S 28,332 $ S Kel Exhibit G -2 61 Total Recreation sousing and and Totals Demonstration Contributed Community Redevelop Grant Proiects Services Authority 1989 1988 $ - $ - $ - $ 29,382 S 29,382 $ 35,957 5,406 - 255,572 204,575 706,524 1,008,683 - - - 71,255 90,621 65,155 - - 339,377 408,544 306,637 - - 8,361 - 8,361 - - - 2,935 279,196 336,627 1,028,835 18,485 22.558 41,043 1,748 5,406 18.485 628.803 584.408 1,621,102 2.447,215 - - 579,583 200,450 804,840 738,647 27 252 66,118 - 69,196 65,205 125 - 102,034 155,070 325,309 296,601 - 599 8,025 166,689 341,641 1,115,444 311,590 311,590 383,659 152 851 755.760 833,799 1.852,776 2.599,556 5,254 17,634 _(126,957) (249,391) (231,674) (152,341) - - 126,926 - 138,395 140-1811 (18,201) - - - (128,853) (502,126) (43,805) (18,201) 126,926 9,542 (405,120) (12,947) 17,634 (31) (249,391) (222,132) (557,461) 2,092 - 71,334 948,447 1,053,119 1.610,580 (128,461) (128,.461) 2,094, - 71.334 819,986 924,658 1.610,580 10.855 - 10,351 - $ $ 17.634 $ 71,303 S 570.595 $ 712.877 $ 1.053.119 61 CITY OF COLUMBIA HEIGHTS, MINNESOTA MUNICIPAL STATE -AID STREET SPECIAL REVENUE FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL FOR THE YEAR ENDED DECEMBER 31, 1989 VITH COMPARATIVE AMOUNTS FOR THE YEAR ENDED DECEMBER 31, 1988 Exhibit G -3 I Variance 1989 1989 Favorable 1988 Budget Actual -(Unfavorable) Actual REVENUES Intergovernmental State of Minnesota Maintenance $ 80,575 80,188 (387) 65,665 Construction - 139,363 139,363 314,613 Miscellaneous Revenue - 54,413 54,413 - Total Revenues 80,575 2_ 73,_964 193,389 380,278 EXPENDITURES Maintenance: Personal Services 13,054 10,638 2,416 11,611 ' Supplies Other Services and Chgs. 8,000 51,130 425 9,073 7,575 42,057 7,126 3,766 Capital Outlay - 3,066 (3,066) Construction: Personal Services - 13,065 (13,065) 39,241 Other Services and Chgs. - 18,762 161,015 (18,762) (161,015) 20,741 412,149 Capital Outlay - Total Expenditures 72,184 216,044 (143,860) 494,634 EXCESS OF REVENUES OVER 8,391 57,920 49,529 (114.356) (UNDER) EXPENDITURES OTHER FINANCING SOURCES (USES) Operating TransfeP In _ 1,469 1,469 - Operating Transfer Out: - (64,611) (64,611) (51,553) Maintenance (340,848) Construction Total Other Financing - (63,142) (63,142) (392,401) Sources (Uses) £yr!ESS OF REVENUES AND OTHER SOURCES OVER (UNDER) 757) ' EXPENDITURES AND OTHER USES 8,391 (5,222) (13,613) (506, FUND BALANCE, JANUARY 1 (199,086) (199,086) - 307,671 ' FUND BALANCE DECEMBER 31 $ (190,695) $__L204,308) $ (13,613) $ (199,086) w 62 , CITY OF COLUMBIA HEIGHTS, MINNESOTA Exhibit G -4 CABLE TELEVISION SPECIAL REVENUE FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL FOR THE YEAR ENDED DECEMBER 31, 1989 PITH COMPARATIVE AMOUNTS FOR THE YEAR ENDED DECEMBER 31, 1988 REVENUES Franchise Fees Miscellaneous Interest Total Revenues EXPENDITURES Personal Services Supplies Other Services and Charges Capital Outlay Total Expenditures EXCESS OF REVENUES,OVER (UNDER) EXPENDITURES OTHER FINANCING SOURCES (USES) Operating Transfer Out Total Other Financing Sources (Uses) EXCESS OF REVENUES AND OTHER SOURCES OVER (UNDER) EXPENDITURES AND OTHER USES FUND BALANCE, JANUARY 1 FUND BALANCE, DECEMBER 31 63 Variance 1989 1989 Favorable 1988 Budget Actual (Unfavorable) Actual $ 50,000 $ 58,885 $ 8,885 $ 57,029 _ 83 83 48,099 8,000 17,901 9,901 10,928 .58,000 76,869 18,869 116,056 - 1,104 (1,104) 969 2,4.00 2,374 96 661 28,217 8,977 19,240 10,728 35,521 2,447 33,074 2,690 66,138 14,902 51,236 15,048 (8,138) 61,967 70,105 101,008 (39,310) (3.9,689) (379) (20,225) (39,310) (39,689) (379) (20,225) (47,448) 22,278 69,726 80,783 207,043 207,043 126,260 $ 159,595 $ 229,321 $ 69,726 $ 207,043 63 CITY OF COLUMBIA HEIGHTS, MINNESOTA Exhibit G -5 ' PARATRANSIT SPECIAL REVENUE FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE ' BUDGET AND ACTUAL FOR THE YEAR ENDED DECEMBER 31, 1989 VITH COMPARATIVE AMOUNTS FOR THE YEAR ENDED DECEMBER 31, 1988 , , Variance 1989 1989 Favorable 1988 Budget Actual (Unfavorable) Actual REVENUES Intergovernmental $ 22,236 $ 21.420 $ (816) 18,848 ' Paratransit Fares 8,000 10,282 2,282 9.101 Interest 1.465 1,465 - - Total Revenues 30,236 33,167 2,931 27,949 , EXPENDITURES 700 - Supplies 700 - Other Services and Charges 31,224 31,268 (44) 27,081 Total Expenditures 31,924 31,268 656 27,081 EXCESS OF REVENUES OVER (UNDER) EXPENDITURES (1,688) 1.899 3,587 868 OTHER FINANCING SOURCES (USES) Operating Transfer In 10,000 10,000 - 10,000 Operating Transfer Out (5,834) (6,352) (518) (4,698) Total Other Financing Sources (Uses) 4,166 3,648 (518) 5,302 EXCESS OF REVENUES AND OTHER SOURCES OVER (UNDER) EXPENDITURES AND OTHER USES 2,478 5,547 3,069 6,170 FUND BALANCE, JANUARY 1 22.785 22,785 - 16,615 FUND BALANCE, DECEMBER 31 $____25,263 $ 28.332 $ 3,069 $ 22.785 , 64 ' CITY OF COLUMBIA HEIGHTS, MINNESOTA Exhibit G -6 DEMONSTRATION GRANT SPECIAL REVENUE FUND STATEMENT OF REVENUES,.EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL FOR THE YEAR ENDED DECEMBER 31, 1989 VITH COMPARATIVE AMOUNTS FOR THE YEAR ENDED DECEMBER 31, 1988 REVENUES Intergovernmental Total Revenues EXPENDITURES Personal Services Supplies Other Services and Charges Total Expenditures EXCESS OF REVENUES OVER (UNDER) EXPENDITURES `OTHER FINANCING SOURCES (USES) Operating Transfer In Operating Transfer Out Total Other Financing Sources (Uses) EXCESS OF REVENUES AND OTHER SOURCES OVER (UNDER) EXPENDITURES AND OTHER USES FUND BALANCE, JANUARY 1 RESIDUAL EQUITY TRANSFERS FUND BALANCE, DECEMBER 31 65 Variance 1989 1989 Favorable 1988 Budget Actual (Unfavorable) Actual $ 15,000 $ 5,406 $ (9,594) 16,291 15,000 5,406 (91594) 16,291 - - - 27,650 - 27 (27) 598 4,895 125 4,770 2,292 4,895 152 4,743 30,540 10,105 5,254 (4,851) (14,249) - - - =5,524 (21,873) (18,201) .3,672 (4,062) (21,873) (18,201) 3,672 1,462 (11,768) (12,947) (1,179) (12,787) 2,092 2,092 - 14,879 - 10,855 10,855 - $ (9,676) $ $ 9.676 $_ .2,092 65 CITY OF COLUMBIA HEIGHTS, MINNESOTA ' RECREATION AND COMMUNITY SERVICES COMBINING BALANCE SHEET AS OF DECEMBER 31, 1989 , PITH COMPARATIVE TOTALS FOR DECEMBER 31, 1988 Recreation and Community Youth Traveling Trips and Senior ' Services Athletics Athletics Outings _ Citizens ASSETS Cash and Investments $ 11029 $ (102) $ 197 $ 4,148 S (8,320) ' Receivables: Accounts 25,000 - - - - Intergovernmental - 11,232 ' Total Assets $__26,029 $ (102) $ 197 $ 4,148 $ 2.912 AND FUND BALANCES , LIABILITIES LIABILITIES Accounts Payable 4,100 - 309 146 292 , Accrued Salaries and Withholdings Payable 1.,098 - 13 - Total Liabilities 5,198 - 322 146 292 , FUND BALANCES: Reserved for Encumbrances Unreserved: , Undesignated 20,831 (102) (125) 4,002 2,620 Total Fund Balances 20,831 (102) (125) 4,002 2,620 Total Liabilities and Fund Balances $ 26.029 $ (102) $ 197 $ 4,148 $ 2,912 66 , ' Exhibit G -7 ' Adventure Adult Special 1989 1988 ECFE Club ABCE Atbletics Proiects Totals Totals" ' $ (46,727) $ 23,493 $ 2,179 $ (28) $ (B) $ (24,139) $ 22,328 - 296 - - - 25,296 58,542 ' 71,170 3,677 86,079 13,241 $ 24, 443 $ 23,789 $__5.., 8 5 6 $ (28) $ (8) $__8 7 L.2 3 6 $ 94,111 ' $ 1,370 $ 6,624 $ 361 $ - $ - $ 13,202 $ 17,767 339 1,150 131 2,731 51010 1,709 7,774 361 131 15,933 22,777 ' - - - - - - 748 22,734 16,015 5,495 (159) _ (8) 71,303 70,586 ' 22,734 16,015 .5,495 (159) (8) 71,303 71,334 24,443 $ 23,789 $ 5,856 $ (28) $ (8) $ 87,236 $ 94,111 67 CITY OF COLUMBIA HEIGHTS, MINNESOTA RECREATION AND COMMUNITY SERVICES COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES FOR THE YEAR ENDING DECEMBER 31, 1989 PITH COMPARATIVE TOTALS FOR THE YEAR ENDED DECEMBER 31, 1988 REVENUES intergovernmental Program Revenue Private Grants Miscellaneous Contributions Total Revenues EXPENDITURES Personal Services Supplies Other Services and Charges Capital Outlay Total Expenditures Excess of Revenues Over (Under) Expenditures OTHER FINANCING SOURCES Operating Transfer In Excess (Deficiency) of Revenues and Other Financing Sources Over (Under) Expenditures and Other Financing Uses Fund Balance, January 1 Fund Balance, December 31 Recreation and Community Youth Traveling Trips and Senior Services Athletics Athletics Outings Citizens $ 94,081 $ - $ 4,880 $ - $ 6,595 76,579 20,448 20275 18,204 2,524 6,300 2,000 1,099 176,960 22,448 7,155 18,204 10,218 215,858 19,248 3,494 - 31,040 27,528 268 126 269 2,810 27,186 3,034 8,540 17,934 5,988 1,700 251 272,272 22,550 12,160 18,203 40,089 (95,312) (102) (5,005) 1 (29,871) 91,111 - 4,880 - 30,935 (4,201) (102) (125) 1 1,064 25,032 - 4,001 1,556 $ 20,831 $ (102) $ (125) $ 4,002 $ 2.620 68 Exhibit G-8 (218) Adventure 7,283 Adult Special 1989 1988 ECFE Club ABCE Athletics Proiects Totals Totals $ 5.495 $ 131,947 $ - $ 18,069 $ - $ - $ 255,572 $ 254,149 10,431 193,959 - 14,684 273 339,377 240,707 8,361 - - - - 6,361 - - _ 1,788 - 1,147 2,935 27 4,459 - 8,700 22,558 1,748 155,198 193,959 19,857 14,684 10,120 628,803 496,631 139,253 155,142 10,980 4,357 211 579,583 463,407• 8,811 25,004 974 285 43 66,118 56,1.77 6,517 10,829 620 10,201 11,185 102,034 84,758 635 5,239 - - 8,025 10,150 155,416 196,214 12,574 14,843 11,439 755,76.0 614,492 (218) (2,255) 7,283 (159) (1,319) 12( 6,957) 11( 7,861) 126,926 107,609 (218) (2,255) 7,283 (159) (1,319) (31) (10,252) 22,952 18,270 (1,788) - 1,311 71,334 81,586 $ 22.734 $ 16.015 $ 5.495 $ (159) $ (8) $ 71,303 $_71,334 m ,CITY OF COLUMBIA HEIGHTS, MINNESOTA Exhibit G -9 RECREATION AND COMMUNITY SERVICES FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE , BUDGET AND ACTUAL FOR THE YEAR ENDED DECEMBER 31, 1989 ' VITH COMPARATIVE AMOUNTS FOR THE YEAR ENDED DECEMBER 31, 1988 Variance 1989 1989 Favorable 1988 ' Budget Actual (Unfavorable) Actual REVENUES Intergovernmental Program Revenue Miscellaneous Contributions Total Revenues EXPENDITURES Personal Services Supplies Other Services and Charges Capital Outlay Contingencies Total Expenditures EXCESS OF REVENUES OVER (UNDER) EXPENDITURES OTHER FINANCING SOURCES (USES) Operating Transfer In EXCESS OF REVENUES AND OTHER SOURCES OVER (UNDER) EXPENDITURES AND OTHER $ 91,111 $ 94,081 $ 2,970 $ 99,000 , 81,120 76,579 (4,541) 54,176 - 27 - 6,300 6,300 - , 172,231 176,960 .4,729 153,203 226,107 215,858 10,249 216,208 22,809 27,528 (4,719) 23,141 ' 24,733 27,186 (2,453) 27,658 - 1,700 (1,700) 8,825 8,900 - 8,900 - 282,549 272,272 10,277 275,832 ' (110,318) (95,312) 15,006 (122,629) , 91,111 91,111 FINANCING USES- (19,207) (4,201) FUND BALANCE, JANUARY 1 25,032 25,032 FUND BALANCE, DECEMBER 31 $ 5.825 $ 20.831 70 - 99,000 , 15,006 (23,629) 48,661 , $ 15,006 $ 25,032 91,111 91,111 FINANCING USES- (19,207) (4,201) FUND BALANCE, JANUARY 1 25,032 25,032 FUND BALANCE, DECEMBER 31 $ 5.825 $ 20.831 70 - 99,000 , 15,006 (23,629) 48,661 , $ 15,006 $ 25,032 CITY OF COLUMBIA HEIGHTS MINNESOTA Exhibit G -1C f YOUTH ATHLETICS SPECIAL REVENUE FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL FOR THE YEAR ENDED DECEMBER 31, 1989 PITH COMPARATIVE AMOUNTS FOR THE YEAR ENDED DECEMBER 31. 1988 REVENUES Program Revenue Contributions Total Revenues EXPENDITURES Personal Services Supplies Other Services and Charges Total Expenditures EXCESS OF REVENUES OVER .(UNDER) EXPENDITURES FUND BALANCE, JANUARY 1 FUND BALANCE, DECEMBER 31 Variance 1989 1989 Favorable 1988 Budget Actual (Unfavorable) Actual $ 20,690 $ 20,448 $ (242) $ 16,497 - 2,000 21000 - 20,690 22,448 1,758 16,497 18,937 .150 1,939 21,026 (336) $ (336) 71 19,248 268 3,034 22,550 (102) $ (102) (311) (118) (1,095) (1, 524) 234 °15,227 211 1,059 16,497 $ 234 $ - Exhibit G-111 CITY OF COLUMBIA HEIGHTS, MINNESOTA TRAVELING ATHLETICS SPECIAL REVENUE FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE ' BUDGET AND ACTUAL FOR THE YEAR ENDED DECEMBER 31, 1989 VITH COMPARATIVE AMOUNTS FOR THE YEAR ENDED DECEMBER 31, 1988 , ' Variance 1989 1989 Favorable 1988 Budget Actual (Unfavorable) actual , REVENUES Intergovernmental $ 4,880 $ 4,880 2,275 $ $ (4.375) 10,094 , Program Revenue 6,650 --- Total Revenues 11,530 7,155 (4,375) 10,094 , EXPENDITURES Perso;.s. Services 6,465 3,494 2,971 (126) 2,183 _ ' Supplies - 126 Other Services and Charges 10,057 8,540 1,517 7,911 Total Expenditures 16,522 12,160 4,362 10,094 ' EXCESS OF REVENUES OVER (UNDER) EXPENDITURES (4,992) (5,005) (13) _ OTHER FINANCING SOURCES Operating Transfer In 4,880 4,880 ' EXCESS OF REVENUES AND OTHER SOURCES OVER (UNDER) EXPENDITURES AND OTHER USES (112) (125) (13) _ FUND BALANCE, JANUARY 1 - -= - FUND BALANCE, DECEMBER 31 $ (112) $ $ (1 3) $ 72 Exhibit G -12 CITY OF COLUMBIA HEIGHTS, MINNESOTA TRIPS AND OUTINGS SPECIAL REVENUE FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL FOR THE YEAR ENDED DECEMBER 31, 1989 VITH COMPARATIVE AMOUNTS FOR THE YEAR ENDED DECEMBER 31, 1988 REVENUES Program Revenue Total Revenues EXPENDITURES Supplies Other Services and Charges Total Expenditures EXCESS OF REVENUES OVER (UNDER) EXPENDITURES FUND BALANCE, JANUARY 1 FUND BALANCE, DECEMBER 31 73 Variance 1989 1989 Favorable 1988 Budget Actual (Unfavorable) Actual $ 19,500 $ 18,204 $ (1,296) $ 20,545 19,500 18,204 (1,296) 20,545 100 269 (169) 79 19,400 17,934 1,466 19,421 19,500 18,203 1,297 19,500 - 1 1 1,045 4,001 4,001 - 2,956 $ 4,001 $ 4,002 $ 1 $ 4,001 73 Exhibit G -13 ' CITY OF COLUMBIA HEIGHTS, MINNESOTA SENIOR CITIZENS SPECIAL REVENUE FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL FOR THE YEAR ENDED DECEMBER 31, 1989 WITH COMPARATIVE AMOUNTS FOR THE YEAR ENDED DECEMBER 31, 1988 74 Variance 1989 1989 Favorable 1988 Budget Actual (Unfavorable) Actual REVENUES ' Intergovernmental $ 6,595 $ 6,595 $ - S 21,850 Program Revenue - 2,524 2,,524 881 Contributions 1.099 11099 ,.. Total Revenues 61595 10,218 3,623 22,731 EXPENDITURES , Personal Services 34,686 31,040 3,646 30,221 Supplies 1,871 2,810 (939) 1,719 Other Services and Charges 3,800 5,988 (2,188) 2,330 ' Capital Outlay - 251 (251) Total Expenditures 40,357 40,089 268 34,270 ' EXCESS OF REVENUES OVER (UNDER) EXPENDITURES (33,762) (29,871) 3,891 (11,539) OTHER FINANCING SOURCES (USES) , Operating Transfer In 30,935 30,935 - 8,609 EXCESS OF REVENUES AND OTHER , SOURCES OVER (UNDER) EXPENDITURES AND OTHER USES (2,827) 1,064 3,891 (2,930) FUND BALANCE, JANUARY 1 1,556 1,556 4,486 ' FUND BALANCE, DECEMBER 31 $ (1,271) $ 2.620 $ 3,891 $ 1,556 74 CITY OF COLUMBIA HEIGHTS, MINNESOTA EARLY CHILDHOOD AND FAMILY EDUCATION (ECFE) SPECIAL REVENUE FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL FOR THE YEAR ENDED DECEMBER 31, 1989 VITH COMPARATIVE AMOUNTS FOR THE YEAR ENDED DECEMBER 31, 1988 REVENUES Intergovernmental Program Revenue Private Grants Contributions Total Revenues EXPENDITURES Personal Services Supplies Other Services and Charges Capital Outlay Total Erpenditures EXCESS OF REVENUES OVER (UNDER) EXPENDITURES FUND BALANCE, JANUARY 1 FUND BALANCE, DECEMBER 31 Exhibit G -14 75 Variance 1989 1989 Favorable 1988 Budget Actual (Unfavorable) Actual S 101,992 S 131,947 $ 29,955 $ 111,129 - 10,431 10,431 6,757 33,080 8,361 (24,719) 4,.459 4,459 798 135,072 155,198 20,126 118,684 126,181 139,253 (13,072) 102,264 9,777 8,811 966 6,159 10,824 6,517 4,307 4,124 - 835 (835) 348 146,782 155,416 (8,634) 112,945 (11,710) (218) 11,492 5,739 22,952 22,952 17,213 $ 11.242 $ 22,734 $ 11.492 $ 22.952 75 CITY OF COLUMBIA HEIGHTS, MINNESOTA Exhibit G -15 ' ADVENTURE CLUB SPECIAL REVENUE FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL FOR THE YEAR ENDED DECEMBER 31, AMOUNTS FOR THE YEAR ENDED 1989 DECEMBER 31, 1988 1 WITH COMPARATIVE 1 Variance 1989 1989 Favorable 1988 Budget Actual (Unfavorable) Actual 1 REVENUES Program Revenue $ 129,644 $ 193,959 $ 64,315 $ 115,342 1 Total Revenues 129,644 $ 193,959 $ 64,315 $ 115,342 EXPENDITURES 1 Personal Services 139,996 155,142 (15,146) 84,387 Supplies 12,220 25,004 (12,784) 21,752 Other Services and Charges 11,850 10,829 1,021 4,547 Capital Outlay - 5,239 (5,239) 927 Contingencies 1,175 - 1,175 - Total Expenditures 165,241 196,214 (30,973) 111,613 1 EXCESS OF REVENUES OVER (UNDER) EXPENDITURES (35,597) (2,255) 33,342 3,729 1 FUND BALANCE, JANUARY 1 18,270 18,270 - 14,541 FUND BALANCE, DECEMBER 31 $ (17,327) $ 16,015 $ 33,342 $ 18,270 1 1 i- 1 1 1 1 1 76 1 Exhibit G -16 CITY OF COLUMBIA HEIGHTS, MINNESOTA ADULT BASIC AND CONTINUING EDUCATION (ABCE) SPECIAL REVENUE FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL FOR THE YEAR ENDED DECEMBER 31, 1989 PITH COMPARATIVE AMOUNTS FOR THE YEAR ENDED DECEMBER 31, 1988 REVENUES Intergovernmental Program Revenue Miscellaneous Total Revenues L7.PENDITURES rersonal Services Supplies Other Services and Charges Total Expenditures EXCESS OF REVENUES OVER (UNDER) EXPENDITURES FUND BALANCE, JANUARY 1- FUND BALANCE, DECEMBER 31 77 Variance 1989 1989 Favorable 1988 Budget Actual .(Unfavorable) Actual $ 19,422 $ 18,069 $ (1,353) $ 22,170 6,853 - (6,853) - 1,788 1,788 - 26,275 19,857 (6,418) 22,170 17,461 10,980 6,481 8,217 6,000 974 5,026 180 2,939 620 2,319 5,415 26,400 12,574 13,826 13,812 (125) 7,283 7,408 8,358 (1,788) (1,788) - (10,146) $ (1,913) S 5.49.5 $ 7.408 $ (1,788) 77 CITY OF COLUMBIA HEIGHTS, MINNESOTA Exhibit G -� ADULT ATHLETICS SPECIAL REVENUE FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE ' BUDGET AND ACTUAL FOR THE YEAR ENDED DECEMBER 31, 1989 , VITH COMPARATIVE AMOUNTS FOR THE YEAR ENDED DECEMBER 31, 1988 Variance 1989 1989 Favorable 1988 ' Budget Actual (Unfavorable) Actual REVENUES Program Revenue Total Revenues EXPENDITURES Personal Services slip pl?o-C Other Services and Charges Total Expenditures EXCESS OF REVENUES OVER (UNDER) EXPENDITURES FUND BALANCE, JANUARY 1 FUND BALANCE, DECEMBER 31 $ 17,353 17,353 6,075 645 10,740 17,460 (107) $ (107) $ 14,684 14,684 4,357 285 10,201 14,843 (159) $ (159) 78 $ (2,669) (2,669) 1,718 360 539 2,617 (52) S (52) $ 16,153 , 16,153 4,700 827 ' 10,626 16,153 S - CITY OF COLUMBIA HEIGHTS, MINNESOTA Exhibit G -18 SPECIAL PROJECTS SPECIAL REVENUE FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN,FUND BALANCE FOR THE YEAR ENDED DECEMBER 31, 1989 PITH COMPARATIVE AMOUNTS FOR THE YEAR ENDED DECEMBER 31, 1988 REVENUES Program Revenue Miscellaneous Contributions Total Revenues EXPENDITURES Personal Services Supplies Other Services and Charges Total Expenditures EXCESS OF REVENUES OVER (UNDER) EXPENDITURES FUND BALANCE, JANUARY 1 FUND BALANCE, DECEMBER 31 79 1989 1988 $ 273 $ 262 1,147 - 8,700 ?0 10,120 1,212 211 - 43 2,109 11,185 _1,667 11,439 3,776 (1,319) (2,564) 1,311 3,875 $ (8) $ 1..311 CITY OF COLUMBIA HEIGHTS, X1 NNE SOTA HOUSING AND REDEVELOPMENT AUTHORITY COMBINING BALANCE SHEET FOR DECEMBER 31, 1989 PITH COMPARATIVE TOTALS FOR DECEMBER 31, 1988 BRA Special Revenue Anoka Co. Community BRA Downtown Low Income Development General Development Housing Block Grant ASSETS Cash and Investments $ 402,659 Cash and Investments In Escrow 153,025 Receivables: Taxes 2,174 Accounts - Interest 1,199 Intergovernmental 10,011 Loans 280,929 Prepaid Expenses - Due From Other Funds 10,947 Real Estate Held For Resale - Total Assets and Other Debits $ 860,944 LIABILITIES AND FUND EQUITY LIABILITIES Accounts Payable $ 1,007 Insurance and Taxes In Escrow 3,489 Construction Escrow Account 153,025 Deposits ' Accrued Salaries and Vithholdings Payable 5,158 Due To Other Government Units ' Due To Other Funds 116,669 Deferred Revenue 282,680 Accrued Interest Payable Total Liabilities 562,028 FUND EQUITY 7_-' °zlances: Reserved For Community Development 149,905 Unreserved - Undesignated 149,011 Total Fund Equity 298,916 Total Liabilities and Fund Equity $ 860;944 $ 15,823 $ 112,554 $ 2.407 333 426 - - _ 20,215 122,733 - - 2,934 - 108,966 - 25,346 98,413 - $ 345.935 $ 116,247 $ 47,968 $ 1,251 $ 10,951 $ 2,471 1,168 - - 200 3,800 972 - 12,584 - 25,346 3,502 6,283 122,733 - - 47,210 150,698 79,019 8,754 80 195,237 37,228 39,214 195,237 37,228 39,214 $ 345,935 $ 116,247 $ 47,968 Totals 1989 1988 533,443 889,285 153,025 - 2,174 2,408 333 542 1,625 9,553 30,226 10,141 403,662 116,633 2,934 3,058 145,259 254,052 98.413 - $ 1,371,0.94 $ 1.285.672 $ 15,680 $ 28,681 4,657 234 153,025 - 4,000 3,739 6,130 - 12,584 12,342 151,800 254,052 405,413 2,149 47,210 36,028 800,499 337,225 149,905 654,820 420,690 293,627 570,595 948,447 S 1,371,094 $ 1,285,672 81 Exhibit G -19 CITY OF COLUMBIA HEIGHTS, MINNESOTA HOUSING AND REDEVELOPMENT AUTHORITY COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE FOR THE YEAR ENDED DECEMBER 31, 1989 WITH COMPARATIVE TOTALS FOR THE YEAR ENDED DECEMBER 31, 1988 BRA Special Revenue Anoka Co. Community BRA Downtown Low Income Development General Development Housinst Block Grant REVENUES Taxes $ 29,382 S - $ - S - Rents - - 189,247 - Intergovernmental 55,182 - 2,815 146,578 Interest 36,733 23,772 10,276 474 Reimbursements /Contributions - 65,281 - - Miscellaneous 20,793 1,500 2,375 - Total Revenue 142,090 90,553 204,713 147,052 EXPENDITURES Personal Services: Administration 152,355 3,146 37,263 7,686 Other Services and Charges: Utilities, Maintenance Operations - - 155,070 - Capital Outlay: Property Acquisitions/ Capital Improvements 475 99,727 11,030 55,457 Other Expenditures: Relocation Assistance - 10,610 - - Legal 12,036 - - Interest Expense - - 11,182 - Loans and Grants - - - 35,198 Loans Made 185,000 - - - Miscellaneous 318 727 - 39,847 Residual Receipts Payments 16,672 - Total Expenditures 338,148 126,246 231,217 138,188 Excess (Deficiency) of Revenue over Expenditures (196,058) (35,693) (26,504) 8,864 Other Financing Sources (Uses) Settlement on Consolidated Annual Contributions Contract Excess (Deficiency) of Revenues and Other Financing Sources Over (Under) Expenditures and Other Financing Uses (196,058) (35,693) (26,504) 8,864 Fund Balance - Beginning of Year As Previously xapurted 623,435 230,930 63,732 30,350 Adjustment to Defer Revenue 12i 8,461) - Fund Balance - Beginning of Year as Restated 494,974 230,930 63,732 30,350 Fund Balance December 31 S 298.91b $_195,237 $ 37.228 $_391214 82 r i i i i i i i i Totals 1989 1988 29,382 35,957 189,247 180,470 204,575 339,117 71,255 54,227 65,281 788,861 .24.668 11.378 584,408 1.410,010 200,450 195,769 155,070 147,147 166,689 690,455 10,610 82,547 . 12,036 36,282 11,182 137,137 35,198 22,270 185,000 - 40,892 105,423 16,672 833,799 1.417,030 (249,391) (7,020) (43,805) (249,391) (50,825) 948,447 999,272 (128,461) 819.986 999,272 $_570.,595 $ 948.447 83 Exhibit G -20 Exhibit G -21 CITY OF COLUMBIA HEIGHTS. KINNESOTA HOUSING AND REDEVELOPMENT AUTHORITY GENERAL FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL FOR THE YEAR ENDED DECEMBER 31, 1989 PITH COMPARATIVE AMOUNTS-FOR THE YEAR ENDED DECEMBER 31, 1988 Variance 1989 1989 Favorable 1988 Budget Ac® (Unfavorable) Actual REVENUES Taxes $ 29,687 $ 29,382 $ (305) $ 35,957 Intergovernmental Revenue 65,883 55,182 (10,701) 34,793 interest on Investments 50,832 36,733 (14,099) 23,031 Reimbursements /Contributions 32,655 - (32,655) - Miscellaneous _450 2_0.793 20,343 3,682 Total Revenues 179,507 142,090 3( 7,417) 97,463 EXPENDITURES Administration 177,217 152,355 24,862 90,960 Property Acquisitions/ 2,290 475 1,815 3,964 Capital Improvements Legal Loans Made - - 185,000 (185,000) - Miscellaneous Expenses - 318 (318) 217 Total Expenditures 179,507 338,148 (158,641) 95,310 Excess (Deficiency)of Revenue Over Expenditures - (196,058) (196,058) 2,153 Fund Balance - Beginning of Year As Previously Reported 623,435 623,435 - 621,282 Adjustment to Defer Revenue 128,461 (12_ 8,461) - Fund Balance - Beginning of Year As Restated 494,974 494_ ,974 - Fund Balance December 31 $ 494.974 $ 298.916 $(196,058) $_623,435 84 Exhibit G -22 CITY OF COLUMBIA HEIGHTS, MINNESOTA HOUSING AND REDEVELOPMENT AUTHORITY DOVNTOVN DEVELOPMENT STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE FOR THE YEAR ENDED DECEMBER 31, 1989 PITH COMPARATIVE AMOUNTS FOR THE YEAR ENDED DECEMBER 31, 1988 REVENUES Intergovernmental Interest Reimbursements /Contributions Miscellaneous Total Revenues EXPENDITURES Administration Property Acquisitions/ Capital Improvements. Relocation Assistance Legal Miscellaneous Expenses Total Expenditures Excess of Revenues Over (Under) Expenditures Fund Balance, January 1 Fund Balance, December 31 1989 1988 Actual Actual $ - $ 178,090 23,772 22,986 65,281 788,861 1.500 5,309 90,553 995,24.6 3,146 63,724 99,727 679,661 10,610 82,547 12,036 35,313 727 126,246 861,245 (35,693) 134,001 230,930 96,929 $ 195.237 $ 230,930 85 CITY OF COLUMBIA HEIGHTS, MINNESOTA HOUSING AND REDEVELOPMENT AUTHORITY LOV INCOME HOUSING FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL FOR THE YEAR ENDED DECEMBER 31, 1989 PITH COMPARATIVE AMOUNTS FOR THE YEAR ENDED DECEMBER 31, 1988 REVENUES Rents Intergovernmental Interest Miscellaneous Total Revenues EXPENDITURES Administration Utilities /Maintenance Operations Property Acquisitions/ Capital Improvements Interest Expense Residual Receipt Payments Total Expenditures Excess of Revenues Over (Under) Expenditures OTHER FINANCING SOURCES (USES) SETTLEMENT ON CONSOLIDATED ANNUAL CONTRIBUTIONS CONTRACT . Excess of Revenues Over (Under) Expenditures and Other Uses Fund Balance, January 1 Fand Balance, December 31 Variance 1989 1989 Favorable Budget Actual (Unfavorable) 182,150 5,700 1,800 189,650 34,390 144,750 25,970 205,110 (15,460) (15,460) 63,732 $ 48,272 $ 189,247 2,815 10,276 2.375 204,713 37,263 155,070 11,030 11,182 16.672 231,217 (26,504) (26.504) 63.732 $ 37,228 86 $ 7,097 2,815 4,576 575 15.063 (2,873) (10,320) 14,940 (11,182) (16,672) (26,107) (11,044) (11,044) $ (11.044) Exhibit G -23 1988 Actual $ 180,470 7,502 6,874 2.387 197,233 38,711 147,147 7,630 137,137 330,625 (133,392) (43,805) (177,197) 240,929 $. 63.732 Exhibit G -24 CITY OF COLUMBIA HEIGHTS, MINNESOTA HOUSING AND REDEVELOPMENT AUTHORITY ANOKA COUNTY COMMUNITY DEVELOPMENT BLOCK GRANT STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE FOR THE YEAR ENDED DECEMBER 31, 1989 VITH COMPARATIVE AMOUNTS FOR THE YEAR ENDED DECEMBER 31, 1988 87 1989 1988 Actual Actual REVENUES Intergovernmental $ 146,578 $ 118,732 Interest 474 1,336 Total Revenues 147,052 120,068 EXPENDITURES Administration 7,686 2,374 Loans and Grants 35,198 22,270 Property Acquisitions/ Capital Improvements 55,457 - Miscellaneous Expenses 39,847 105,206 Total Expenditures 138,188 129,850 Excess of Revenues Over (Under) Expenditures 8,864 (9,782) Fund Balance, January 1 30,350 40,132 Fund Balance, December 31 $ 39,214 $ 30,350 87 DEBT SERVICE FUNDS C THE MY 0 OF V M B I A H E I G H T S, M N Debt Service Funds are used to account for the collection of tax levies and other revenues and to record the payment of principal and interest on outstanding General Obligation Bonds. CITY OF COLUMBIA HEIGHTS, MINNESOTA DEBT SERVICE FUNDS CO2SBINING.BALANCE SHEET AS OF DECEMBER 31, 1989 AND 1988 PITH COMPARATIVE TOTALS FOR DECEMBER 31, 1988 Special Assessment Tax Tax Refunding Increment Increment Bonds of 1987 Bonds of 1980 Bonds of 1984 ASSETS Cash and Investments $ 1,439,957 Cash Deposited with Fiscal - Agents - Cash and Investments in Escrow - Taxes Receivable Unremitted - Delinquent - Special Assessments Receivable: Unremitted 1,069 Delinquent 97,030 Deferred 638,341 Interest Receivable 41,309 Total Assets $ 2,217 706 LIABILITIES AND FUND EQUITY LIABILITIES Deferred Revenue: Property Taxes - Delinquent $ Special Assessments 735,371 Due to other Government Units - Matured Interest Payable Total Liabilities 735,371 FUND EQUITY Fund Balance: Unreserved - Designated for Debt Service 1,482,335 Total Fund Equity 1,482,335 Total Liabilities and Fund Equity $ 2.217.706 88 $ 2,129,135 9,185 61,120 44,248 $ 2.243.686 61,120 9,218 9,185 79,523 2,164,163 2,164,163 S - $ 2.243,686 $ - Tax Tax _Totals Tax Increment Increment Increment Refunding Taxable Bonds of 1985 Bonds of 1987 Bonds of 1987 1989 1988 S ° S S $ 155,933 $ - $ 3,725,023 9,185 8,863,500 - 8,863,500 61,120 1,069 - _ 97,030 643,706 1,282,047 - - 85.557 $ 9.6631139 $ - $ 14,124.531 61,120 643,706 - 1,379,077 - _ 9,218 9,185 643,706 1,458,600 9,019,433 121665,931 9.019,433 12,665,931 $ _9.663.139 S S 14.124,531 89 $ 4,128,391 9,185 8,863,500 7,476 76,883 149,795 1,149,826 $14,385,056 76,883 1,299,621 9.185 1,385,689 4,135,867 8,863,500 12,999,367 $ 14.385,056 Exhibit H -1 CITY OF COLUMBIA HEIGHTS, MINNESOTA DEBT SERVICE FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE FOR THE YEAR ENDED DECEMBER 31, 1989 VITH COMPARATIVE TOTALS FOR THE YEAR ENDED DECEMBER 91, 1988 17 -t' Tax Increments Intergovernmental Special Assessments Interest Miscellaneous Revenue Total Revenues EXPENDITURES Debt Service: Principal Payment Interest and Fiscal Charges Miscellaneous Total Expenditures EXCESS OF REVENUES OVER (UNDER) EXPENDITURES OTHER FINANCING SOURCES (USES) Operating Transfer In Operating Transfer Out Total Other Financing Sources (Uses) EXCESS OF REVENUES AND OTHER SOURCES OVER (UNDER) EXPENDITURES AND OTHER USES FUND BALANCE, JANUARY 1 FUND BALANCE, DECEMBER 31 90 Special Assessment Taz Tax Refunding Increment Increment Bonds of 1987 Bonds of 1980 Bonds of 1984 $ - $ 1,009,449 $ 205,099 641,297 - 119,983 128,521 - 5,463 761,280 1,348,532 260,000 113,408 373,408 300,000 613,704 913,704 105,000 68,602 173,602 387,872 434,828 (173,602) - - 173,602 (753,283) (498,218) - (753,283) (498,218) 173,602 (365,411) 1,847,746 $ 1.482,335 (63,390) 2,227,553 $ 2.164.163 Tax Tax Totals Tax Increment Increment Increment Refunding Taxable Bonds of 1985 Bonds of 1987 Bonds of 1987 1989 1988 50,000 169,191 219,191 Exhibit H -2 $ - $ 1,009,449 S 1,105,540 - 205,099 171,769 95,365 - 736,662 474,189 614,013 - 862,517 246,079 - - 5.463 16.400 709,378 2,819,190 2.013,977 620,686 620,686 98,752 98,752 715,000 1,684,343 2,399,.343 (219,191) 88,692 (98,752) 419,847 219,191 6,673 98,752 498,218 (1,251,501) 645,000 1,109,031 1.973 1,756,004 257,973 491,867 (892,374) 219,191 6,673 98,752 .(753,283) (400,507) 95,365 - (333,436) (142,534) 8,924,068 12, 99,367 13.141,901 S - $___9,019.433 $ $ 12.665.931 $12.999.367 91 Exhibit H -3 CITY OF COLUMBIA HEIGHTS, MINNESOTA SPECIAL ASSESSMENT REFUNDING BONDS OF 1987 DEBT SERVICE FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL ' FOR THE YEAR ENDED DECEMBER 31, 1989 VITH COMPARATIVE AMOUNTS FOR THE YEAR ENDED DECEMBER 31, 1988 ' Variance , 1989 1989 Favorable 1988 Budget Actual (Unfavorable) Actual ' REVENUES Special Assessments $ - $ 641,297 $ 641,297 $ 378,823 Interest 1_ 19_983 119,983 127,159 ' Total Revenues 761,280 761,280 505,982 ' EXPENDITURES Debt Service: Principal Payment 260,000 260,000 - 245,000 ' Interest and Fiscal Charges 113,053 113,408 (355) 125,566 Miscellaneous - - 1,973 Total Expenditures 373,053 373,408 (355) 372,539 ' EXCESS OF REVENUES OVER (UNDER) EXPENDITURES (373,053) 387,872 760,925 133,443 ' OTHER FINANCING SOURCES (USES) Operating Transfers In 373,053 - (373,053) - , Operating Transfers Out - (753,283) (753,283) (400,507) Total Other Financing Sources (Uses) 373,053 (753,283) (1,126,336) (400,507). EXCESS OF REVENUES AND OTHER SOURCES OVER (UNDER) ' EXPENDITURES AND OTHER USES - (365,411) (365,411) (267,064) FUND BALANCE, JANUARY 1 1,847,746 1,847,746 - 2,114,810 , FUND BALANCE, DECEMBER 31 $1,847,746 $1..482,335 $ (365,411) $1,847,746 92 ' Exhibit H -4 CITY OF COLUMBIA HEIGHTS, MINNESOTA ' TAR INCREMENT BONDS OF 1980 DEBT SERVICE FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL ' FOR THE YEAR ENDED DECEMBER 31, 1989 WITH COMPARATIVE AMOUNTS FOR THE YEAR ENDED DECEMBER 31, 1988 Variance 1989 1989 Favorable 1988 ' Budget Actual (Unfavorable) Actual REVENUES Tar. Increments $ 1,308,300 $ 1,009,449 $ (298,851) $ 1,105,540 Intergovernmental 130,000 205,099 75.,099 171,769 Interest 50,000 128,521 78,521 118,920 ' Proceeds from Sales of Land 5,463 15,463 8,377 Miscellaneous Revenue 8.023 Total Revenues 1,488,300 1,348,53.2 . (139,768) 1,412,629 EXPENDITURES Debt Service: ' Principal Payment 300,000 300,000 250,000 Interest and Fiscal Charges 613,550 613.704 (154) 635,487 ' Total Expenditures 913,550 913,704 (154) 885,487 EXCESS OF REVENUES OVER (UNDER) EXPENDITURES 574.750 434,828 (139.922) 527,142 OTHER FINANCING SOURCES (USES) Operating Transfer Out (495,625) (498,218) (2,593) (491,867) Total Other Financing Sources (Uses) (495,625) (498,218) (2,593) (491,867) ' EXCESS OF REVENUES AND OTHER SOURCES OVER (UNDER) EXPENDITURES AND OTHER USES 79,125 (63,390) (142,515) 35,275 ' FUND BALANCE, JANUARY 1 2.227,553 2,227,553 2,192,278 FUND BALANCE, DECEMBER 31 $ 2.306.678 $ 2.164.163 $ (342.515) $ 2,227,553 93 CITY OF COLUMBIA HEIGHTS, MINNESOTA TAR INCREMENT BONDS OF 1984 DEBT SERVICE FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL FOR THE YEAR ENDED DECEMBER 31, 1989 PITH COMPARATIVE AMOUNTS FOR THE YEAR ENDED DECEMBER 31, 1988 XxILIENDITURES Debt Service: Principal Payment interest and Fiscal Charges Total Expenditures EXCESS OF REVENUES OVER (UNDER) EXPENDITURES OTHER FINANCING SOURCES (USES) Operating Transfer In Total Other Financing Sources (Uses) EXCESS OF REVENUES AND OTHER SOURCES OVER (UNDER) EXPENDITURES AND OTHER USES FUND BALANCE, JANUARY 1 FUND BALANCE, DECEMBER 31 Exhibit H -5 Variance 1989 1989 Favorable 1988 Budget Actual (Unfavorable) Actual $ 105,000 $ 105,000 $ e $ 100,000 67,074 66,602 (1,528) 74,662 172,074 173,602 (1,528) 174,662 (172,074) (173,602) (1,528) (174,662) 172,074 173,602 1,528 174,662 S 172,074 94 173,602 1,528 174,662 Exhibit H -6 CITY OF COLUMBIA HEIGHTS, MINNESOTA TAB INCREMENTT BONDS OF 1985 DEBT SERVICE FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL FOR THE YEAR ENDED DECEMBER 31, 1989 VITH COMPARATIVE AMOUNTS FOR TEE YEAR ENDED DECEMBER 31, 1988 EXPENDITURES Debt Service: Principal Payment Interest and Fiscal Charges Total Expenditures EXCESS OF REVENUES OVER (UNDER) EXPENDITURES OTHER FINANCING SOURCES (USES) Operating Transfer In Total Other Financing Sources (Uses) EXCESS OF REVENUES AND OTHER SOURCES OVER (UNDER) EXPENDITURES AND OTHER USES FUND BALANCE, JANUARY 1 FUND BALANCE, DECEMBER 31 Variance 1989 1989 Favorable 1988 Budget Actual (Unfavorable) Actual $ 50,000 $ 50,000 $ - $ 50,000 169,191 169,191 - 169,565 219,191 219,191 - 219,565 (219,191) (219,191) - 219,191 219,191 - 219,191 219,191 - 95 (219,565) 219,565 219,565 S _ CITY OF COLUMBIA HEIGHTS, MINNESOTA TAX INCREMENT REFUNDING BONDS OF 1987 DEBT SERVICE FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL FOR THE YEAR ENDED DECEMBER 31, 1989 VITH COMPARATIVE AMOUNTS FOR THE YEAR ENDED DECEMBER 31, 1988 Variance 1989 1989 Favorable Budget Actual (Unfavorable) Special Assessments $ 95,366 Interest From Escrow Total Revenues 95,366 EXPENDITURES Actual Debt Service: $ 95,366 Interest and Fiscal Charges 5,460 95,366 Total Erpenditures 5,460 EXCESS OF REVENUES OVER (UNDER) ' 6,111 EXPENDITURES 89,906 OTHER FINANCING SOURCES (USES) Operating Transfer In 5,720 Total Other Financing Sources (Uses) 5,720 EXCESS OF REVENUES AND OTHER SOURCES OVER (UNDER) $ 95,365 $ (1) 614,013 614,013 709,378 614,012 620,686 (615,226) 620,686 (615,226) Exhibit H -7 , 1988 Actual , $ 95,366 95,366 6,111 ' 6,111 88,692 (1,214) 89,255 ' 6,673 953 6,673 953 EXPENDITURES AND OTHER USES 95,626 95,365 (261) FUND BALANCE, JANUARY 1 8,924,068 8,924,068 FUND BALANCE, DECEMBER 31 $_9 019 694 $ 9.019.433 $ (261) m 89,255 ' 8.834,813 $ 8,924.068 ' Exhibit H -8 CITY OF COLUMBIA HEIGHTS, MINNESOTA TAR INCREMENT TAXABLE BONDS OF 1987 DEBT SERVICE FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL FOR THE YEAR ENDED DECEMBER 31, 1989 WITH COMPARATIVE AMOUNTS FOR THE YEAR ENDED DECEMBER 319 1988 Variance 1989 1989 Favorable 1988 Budstet Actual (Unfavorable) Actual EXPENDITURES Debt Service: Interest and Fiscal Charges $ 98,640 Total Expenditures 98,640 EXCESS OF REVENUES OVER (UNDER) EXPENDITURES (98,640) OTHER FINANCING SOURCES (USES) Operating Transfer In 98,640 Total Other Financing Sources (Uses) 98,640 EXCESS OF REVENUES AND OTHER SOURCES OVER (UNDER) EXPENDITURES AND OTHER USES - $ 98,752 $ (112) $ 97,640 98,752 (112) 97,640 FUND BALANCE, JANUARY 1 FUND BALANCE, DECEMBER 31 S S 97 (98,752) (112) (97,640) 98,752 112 97,.640 98,752 112 97,640 S S - CAPITAL PROJECT FUNDS C THE MY 0 of L M B I A H E I G H T S, M N Capital Project Funds are maintained to account for the construction of major capital facilities. Project applications are a combination of several revenue sources, such as municipal state -aid streets., special assessments, sewer utility fund, other governmental units, State and Federal Grants, ect. ASSETS Cash and Investments Receivables: Accounts Interest CITY OF COLUMIA HEIGHTS CAPITAL PROJECTS FUNDS COMBINING BALANCE SHEET DECEMBER 32, 1989 WITH COMPARATIVE TOTALS FOR DEMMER 31, 1988 Capital Downtown Columbia Sullivan Lk Capital Improvement Land Acq. Pk Clinic Development Improvement Fund 401 Fund 405 Fund 406 Fund 407 Fund 408 $ 94,884 $ 84,514 $ 2,955 $ 179 $ 5,931 2,360 79 94 3 Total Assets S 94,884 $ 86,874 $ 3,034 $ 273 LIALILITIES AND FUND BALANCE Liabilities: Accounts Payable $ 1,218 $ 1,049 $ - $ - $ - Contracts Payable - Retained 2 (385) - Accrued Salaries and Withholdings Payable 418 29 Total Liabilities 1,251 1,078 - FUND BALANCE: Unreserved Designated for sub- sequent year's expenditures 1,498 - Undesignated 92,135 85,796 3,034 273 5,931 Total Fund Balance 93,633 85,796 3,034 273 5,931 Total Liabilities and Fund Balance $ 94.884 $ 86.874 $ 3,034 $ 273 $ 5..931 98 Exhibit I -1 Capital Capital Buset Park Totals Capital Hurzyn Hall Improvement Improvement Hazardous Community Improvement Renovation Gov't Bldg. Parks Cleanup Center 1ye9 Fund 4.09 Funs d 410 Pund 411 Pund 412 Fund 413 Fund 414 19_ $ (3,507) $ 16,336 S 326,499 $ 25,000 S 29,960 $ $ 562,751 S (41,505) 2,171 9,299 6,766 $ (3,507) $ 16.33.6 $ 393.2?5 $ 25.000 $ 29.960 $ ,�. $ 592.050 $ (39.3?4) 15,115 $ 27,486 x2,551 __ (3,507) 16,336 290,714 25,000 (3,507) 16,336 290,714 25,000 S (3.507) $ If, 336 $ 333.265 $ 25.000 $ _ $ $ 17,382 $ 21,698 27,051 37,849 447 X783 44,680 60,530 1,498 (102,670) 29,960 545,672 2,806 29,960 547,170 (9_ 9,864) CITY OF COLUMBIA HEIGHTS CAPITAL PROJECTS FUNDS CONZINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES FOR THE YEAR ENDED DECEMBER 31, 1989 VITB COMPARATIVE TOTALS FOR THE YEAR ENDED DECEMBER 31, 1988 Capital Dovntovn Columbia Improvement Land Acq. Pk Clinic Fund 401 Fund 405 Fund 406 REVENUES Interest $ - 17iscellaneous 453,962 Other reimbursements - Contributions 10.000 Total Revenues 463.962 EXPENDITURES Other project expenditures 528.424 Total Expenditures 528,424 Excess of Revenues Over (Under) Expenditures (64,462) OTHER FINANCING SOURCES (USES) Operating transfers in 773.562 Operating transfers out Total Other Financing Sources (Uses) 773.562 Excess (deficiency) of Revenues and Other Financing Sources Over (Under) expend- itures and Other Financing Uses 709,100 Fund Balances, January 1 (615,467) Fund Balances December 31 $ 93.633 Sullivan Lk Capital Development Improvement Fund 407 Fund 408 6,653 $ 228 $ 273 6.853 228 273 10,067 - 7,131 10,067 .7,131 (3,214) 228 (61858) (3.214) 228 (6,858) 89.010 2.806 7,131 $ 85.796 $ 3.034 $ 273 100 S - 5.931 $ 5.931 Exhibit I -2 101 Capital Capital Buset Park Capital MurzTn Ball Isprovesent Isprovesent Bazardous CoaounitT Totals lnpsuvtount Renovation Gov't Bldg. Parke Cleanup Center Fund 409 Fund 410 Fund 411 Fund 412 Fund 413 Fund 414 1989 1988 3 - $ - $ 19,652 $ - S - $ - $ 27,006 $ 23,047 - - - 31.337 - - 485,299 399,614 9.890 4.500 12.000 26.500 9.997 24.152 31,337 _ 12,000 538.805 442,548 3.507 (61169) 553.828 51000 58.040 12.000 1,271,828 1,715,626 3,507 (6.169) 553,828 5,000 58.040 12.000 1.171.828 1,7115J26 (3,507) 6,169 (529,676) 26,337 (58.040) (633.023) (1.273,078; (e - - 424,995 85,000 - 1.283.557 1,232,199 13,500) - (3.500) (8:.934) 424,995 (3,500) 85.000 1.280,057 1.146,265 (3.507) 6,169 (104,681) 22,837 26.960 - 647,034 (126,813) 10.167 395.395 2,263 3.000 (99,864) 26,949 S (3.507 $ 161336 S 290 7 4 $ 25.000 $ 29.960 S $ 547.170 $ (D9.86a) 101 i L C THE CITY 0 of V B ENTERPRISE I A (D E I FUNDS H S M N The Authority for these types of funds is derived from Section 69 (b) of the City Charter which allows for utility or other public service enterprise funds. The Enterprise Funds are a member of the proprietary fund category, and as such, are accounted for on the accrual basis of accounting. Revenues in the enterprise fund are recognized when they are earned and their expenses are recognized when they are incurred. The Enterprise Funds are used to account for operations that are either financed and operated in a manner similar to private business enterprises or 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. CITY OF COLUMBIA HEIGHTS, MINNESOTA ENTERPRISE FUNDS COMBINING BALANCE SHEET DECEMBER 31, 1989 WITH COMPARATIVE TOTALS FOR DECEMBER 31, 1988 ASSETS Current Assets: Cash and Investments Receivables: Accounts Interest Intergovernmental, Current Portion Inventories Prep =id Expenses Total Current Assets Long -term Assets: Intergovernmental Receivable Net of Current Portion Fixed Assets: Land Buildings Improvements Other Than Buildings bach:rery 6 Equipment Office Furniture and Fixtures Water Sever Refuse Liquor $ 653,548 $ 2,281,378 $ (5,797) $ 1,032,813 205,806 17,446 2,955 879,755 45,223 213,204 2,554,365 134,527 31,263 2,978,582 237,001 66,911 44,661 50.908 2.680,859 180,644 36,586 26,940 2,709,872 259,707 15,047 3,048,152 Less Accumulated Depreciation (1,355,911) (1,.600,983) Fixed Assets (Net Of Accumulated Depreciation 1,622,671 1,447,169 Total Assets $__2,502,426 $__4,308,672 LIABILITIES AND EQUITY Current Liabilities: Accounts Payable 64,898 9,708 Accrued Salaries and Vithholdings Payable 16,626 13,657 Due To Other Government Units 2,384 Total Current Liabilities 83,908 23,365 FUND EQUITY Contributed Capital: Cunt omers 482,690 823,877 Federal 453,000 Total Contributed Capital 935,690 823,877 Retained Earnings: Unreserved 1,482,828 3,461,430 Total Retained Earnings 1,482,828 3 ;461,430 Total Equity 2,418,518 4,285,307 Total Liabilities and Fund Equity S 2.502.426 $_4,308,672 ins 169,790 1,213 18,812 184,018 2,890 4,188 440 7,518 (1,177) 6,341 $ 190.359 254 447 44 25,697 424,134 1,462,688 13,051 182,670 99,369 142,775 23,513 461,378 (179,950) 281,428 $ 1.764.116 118,384 16,350 33,063 701 167,797 189,658 1,596,319 189,658 1,596,319 189,658 1,596,319 $ 190.359 $ 1.764,116 1989 1988 Total Total $ 3,961,942 $ 3,821,328 612,641 546,693 111.267 - 63,473 44,488 427,069 423,642 50.908 5,227,320 4,836.151 180,644 195,112 94,860 $8,934 422,814 376,514 5,366,496 5,124,355 541,197 526,930 70,263 38,225 6,495,630 6,154,958 (3,138,021) (2,999,279) 3,357,609 3,155.679 $__8,765 573 $ 8.186.942 $ 193,244 $ 204,054 47,080 31,040 35,447 36,560 275.771 271,654 1,306,567 1,371,796 453.000 453,000 1.759,567 1,824,796 6.730,235 6,090,492 6,730,235 6.090,492 8,489,802 7,915,2B8 $__S '7 6 B.,5 7 3 $ 8186.942 103 Exhibit J -1 CITY OF COLUMBIA HEIGHTS, MINNESOTA ENTERPRISE FUNDS COMBINING STATEMENT OF REVENUES, EBPENDITURES AND CHANGES IN RETAINED EARNINGS FOR THE YEAR ENDED DECEMBER 31, 1989 VITH COMPARATIVE TOTALS FOR THE YEAR-ENDED DECEMBER 31,•1988 104 Vater Sever Refuse Liquor OPERATING REVENUES Charges for Sales and Services: $ - ;aL,ei Svies $ 857,507 $ - $ - Meter Sales 3,634 - - Customer Services 3,625 - Penalties 14,800 - - - Sever Service Charges - 854,443 - Interceptor Maintenance - 21,600 - - 875,775 - Refuse Service Charge - - 42,146 - Federal and State Grants - - - 1,179,315 Sales Liquor - - - 1,661,438 Sales Beer - - 383,775 Sales Wine - - 270,721 Sales Other - _= -= Total Operating 879.566 876.243 917,921 3.695,249 Revenues OPERATING EXPENSES Cost of Sales and Services 479,146 554,121 - - Distribution 299,716 163,927 - - Administration 8,834 8,833 80,704 8,141 636 - 33,126 Depreciation 56,391 740,402 Collection and Disposal - - Recycling - - 58,745 Hazardous Waste - - 9,555 - 3,015,661 Cost Of Goods Sold - - - 417,605 Operating Expense - Total Operating Expense 844,087 807,585 817,479 3,466,392 Operating Income 35,479 68,658 100,442 228,857 NON - OPERATING REVENUES (EXPENSES) Interest Income 50,672 194,345 3,522 74,639 Miscellaneous Revenue Expense 7,204 (24,747) 8,937 - 5 - 536 (3,326) Miscellaneous Total Non - Operating Revenues (Expenses) 33.129 203,282 3,527 71,849 Income Before Operating Transfers 68,608 271,940 103,969 300,706 Operating Transfers Out (_ 27,806) (27,807) (35,404) (6.9,341) Net Income 40,802 244,133 68,565 231,365 Credit for Depreciation On Contributed Assets Retained Earnings, January 1 26,294 1,415,732 36,935 3,178,362 - 131,444 - 1,364,954 Residual Equity Transfer �_ __ (10,351) Retained Earnings December 31 $ 1._4.82,828 $ 3.461.430 $ 189.658 $ 1.996 319 104 1989 1988 Total Total $ 857,507 3,634 3,625 14,800 854,443 21,800 875,775 42,146 1,179,315 1,861,438 383,775 270,721 $ 906,071 6,216 1,959 17,267 797,165 20,960 641,852 1,122,336 1,832,618 412,533 223,065 6,358,979 5,982,042 1,033,267 1,035,951 463,643 388,000 25,808 19,086 170,857 167,760 740,402 543,333 58,745 5,807 91555 2,350 3,015,661 3,006,085 417.605 372,228 5,935,543 5,540,600 433,436 441,442 323,178 298,609 16,682 9,895 (28,073) (1,063) 311,787 307,441 745,223 748,883 (160,358) (277.333) 584,865 471,550 65,229 65,229 6,090,492 5,553,713 (10,351) $ 6,730,235 S 6,090.492 105 Exhibit J -2 CITY OF COLUMBIA HEIGHTS, MINNESOTA ZNTERPRISE FUNDS COMBIWG STATEMENT OF CASH FLOGS FOR THE YEAR ENDED DECEMBER 31. 1989 PITH COMPARATIVE TOTALS FOR THE YEAR ENDED DECEMBER 31, 1988 Water. ater__ Sever Refuse Liquor Cash Flows From Operating Activities: Cash Received From Customers Cash Paid to Suppliers For Goods and Services Cash Payments to Employees For Services Miscellaneous Revenue Miscellaneous Expense Net Cash Provided By Operating Activities Cash Flows From Noncapital Financing Activities: Residual Equity Transfer Operating Transfers Out to Other Funds Cash Flows From Capital and Related Financing Activities: Acquisition of Fixed Assets Disposition of Fixed Assets Cash Flows From Investing Activities: Interest on Investments Net Increase (Decrease) In Cash: Cash and Investments. January 1 Cash and Investments. December 31 $ 864,580 $ 808,433 $ 915,853 $ 31695,353 (572,354) (648,237) (816.481) (3.225,444) (187,059) (101,716) - (249,338) 7,204 6,937 5 536 (24.747) (3.326) 87,624 67.417 99.377 217.781 - - (10.351) - (27,606) (27,807) (33.404) (69.341) (103,805) (197,948) (2,000) (73,218) - - - 4.184 33.226 127.434 2.309 48.942 (10,761) (30,904) 53,931 128,348 664,309 2,312.282 (59,728) 904.465 $ 653.548 3 RECONCILIATION OF NET INCOME TO NET CASH PROVIDED BY OPERATING ACTIVITIES Pater Sever Refuse Liquor Operating Income S 35.479 $ 68,658 S 100,442 S 228,857 . Adjustments to Reconcile Operating Income to Net Cash by Operating Activities: Miscellaneous Revenue 7,204 8,937 5 536 Miscellaneous Expense (24,747) - (3,326) Depreciation Expense 56,391 80,704 636 33,126 Change in Assets and Liabilities: (Increase) Decrease In Accounts Receivable (14,986) (67,810) 16,744 104 (increase) Decrease In Prepaid Expenses - (50,908) - - (Increase) Decrease In Inventories 84 - - (3,531) Increase (Decrease) In Accounts Payable 21,169 8,479 (85) (40,373) Increase (Decrease) In Accrued Salaries and Withholdings Payable 6,772 5,062 447 3,759 Increase (Decrease) in Due To Other Governmental 2S8 - - (1,371) Units (Increase) Decrease in Due From Other Governmental Unite �_ 14.295 (18.812) Total Adjustments 52.145 (1,241) (1.065) (11,076) Net Cash Provided By Operating Activities $ 87.624 S 67.417 $. 99.377 $ 217.781 106 RECONCILIATION OF NET INCOME TO NET CASH PROVIDED BY OPERATING ACTIVITIES Pater Sever Refuse Liquor Operating Income S 35.479 $ 68,658 S 100,442 S 228,857 . Adjustments to Reconcile Operating Income to Net Cash by Operating Activities: Miscellaneous Revenue 7,204 8,937 5 536 Miscellaneous Expense (24,747) - (3,326) Depreciation Expense 56,391 80,704 636 33,126 Change in Assets and Liabilities: (Increase) Decrease In Accounts Receivable (14,986) (67,810) 16,744 104 (increase) Decrease In Prepaid Expenses - (50,908) - - (Increase) Decrease In Inventories 84 - - (3,531) Increase (Decrease) In Accounts Payable 21,169 8,479 (85) (40,373) Increase (Decrease) In Accrued Salaries and Withholdings Payable 6,772 5,062 447 3,759 Increase (Decrease) in Due To Other Governmental 2S8 - - (1,371) Units (Increase) Decrease in Due From Other Governmental Unite �_ 14.295 (18.812) Total Adjustments 52.145 (1,241) (1.065) (11,076) Net Cash Provided By Operating Activities $ 87.624 S 67.417 $. 99.377 $ 217.781 106 Exhibit J -3 1989 1988 $ 6,284,219 S 5,933,269 (5,262,516) (4,899,668) (538,113) (480459) 16,682 9,895 (28,073) (1,063) 472,199 $62,174 (10,351) - (160,358) (277,333) (376,971) (403,610) 4,184 - 211,911 296,609 140,614 179,840 3.821,328 3,641.488 $ 3.961.942 $__3,821_,328 1989 1988 433,436 441,442 16,682 9,695 (28,073) (1,063) 170,857 167,760 (65,946) (48,773) (50,908) (3,447) 75,725 (10,810) (94,642) 16,040 11,869 (1,113) 2,985 (4,517) (3.024) 38.763 120,732 $ 472.199 $ 562.174 107 Exhibit J -4 CITY OF COLUMBIA HEIGHTS, MINNESOTA WATER UTILITY ENTERPRISE FUND BALANCE SHEET DECEMBER 31, 1989 WITH COMPARATIVE AMOUNTS FOR DECEMBER 31, 1988 1989 1988 ASSETS Current Assets: Cash and Investments $ 653,548 $ 664,309 Receivables: Accounts 205,806 190,620 Interest 17,446 - Inventories _ 2.955 3.039 Total Current Assets 879,755 858,168 Fixed Assets: Land 45,223 45,223 Buildings 213,204 213,204 Improvements Other Than Buildings 2,554,365 2,485,683 Machinery & Equipment 134,527 126,945 Office Furniture & Fixtures 31,263 3.722 2,978,582 2,874,777 Less Accumulated Depreciation (1,355,911) (1,299,520) Fixed Assets (Net of Accumulated Depreciation) 1,622,671 1,575,257 Total Assets $ 2,502.426 $ 2.433.425 LIABILITIES AND FUND EQUITY Current Liabilities: Accounts Payable $ 64,898 $ 43,729 Accrued Salaries and Witholdings Payable 16,626 9,854 Due to other Governmental Units 2.384 2,126 Total Current Liabilities 83,908 55,709 Equity Contributed Capital: Customers 482,690 508,984 Federal 453,0.00 453,000 Total Contributed Capital 935,690 961,984 Retained Earnings: Unreserved 1,482,828 1,415,732. Total Retained Earnings 1,482,828 1,415,732 Total Equity 2,418,518 2,377,716 Total Liabilities and Fund Equity $_2,502,426 $ 2.433.425 108 CITY OF COLUMBIA HEIGHTS, MINNESOTA PATER UTILITY ENTERPRISE FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN RETAINED EARNINGS FOR THE YEAR ENDED DECEMBER 31, 1989 VITH COMPARATIVE AMOUNTS FOR THE YEAR ENDED DECEMBER 31, 1988 OPERATING REVENUES: Charges for Sales and Services: Water Sales Meter Sales Customer Services Penalties Total Operating Revenues OPERATING EXPENSES Cost of Sales and Service Distribution Administration Depreciation Total Operating Expense OPERATING INCOME Non Operating Revenues (Expense): Interest Income Miscellaneous Revenue Miscellaneous Expense Total Nonoperating Revenues (Expense) Income Before Operating Transfers Operating Transfer Out NET INCOME Credit for Depreciation on Contributed Assets Retained Earnings, January 1 Retained Earnings, December 31 km 1989 1988 $ 857,507 $ 906,071 3,634 6,216 3,625 1,959 14.800 17,267 879,566 931,513 479,146 482,502 299,716 240,723 8,834 10,317 56.391 48,820 844,087 782,362 35,479 149,151 50,672 54,463 7,204 48 (24,747) 33,129 54,511 66,608 203,662 (27,806) (27,351) 40,802 176,311 26,294 26,294 1.415.732 1.213.127 $ 1.482,828 $ 1.415.732 Exhibit J -5 Exhibit J-6 CITY OF COLUMBIA HEIGHTS, MINNESOTA WATER UTILITY ENTERPRISE FUND STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 1989 WITH COMPARATIVE AMOUNTS FOR THE YEAR ENDED DECEMBER 31, 1988 1989 1988 Cash Flows From Operating Activities: Cash Received From Customers Cash Payments to Suppliers For Goods and Services Cash Payments to Employees For Services Miscellaneous Revenue Miscellaneous Expense Net Cash Provided By Operating Activities Cash Flows From Noncapital Financing Activities: Operating Transfers Out to Other Funds Cash Flows From Capital and Related Financing Activities: Acquisition of Fixed Assets Cash Flows From Investing Activities: Interest on Investments Net Increase (Decrease) in Cash: Cash and Investments, January 1 Cash and Investments, December 31 864,580 $ 911,148 (572,354) (566,059) (187,059) (166,854) 7,204 48 (24,747) �_ 87,624 176,283 (27,806) (27,351) (103,805) (259,822) 33,226 54,463 (10,761) (54,427) 664,309 718,736 $ 653548 $ 664.309 RECONCILIATION OF NET INCOME TO NET CASH PROVIDED BY OPERATING ACTIVITIES 110 1989 1988 - Operating Income $ 35,479 $ 149,151 Adjustments to Reconcile Operating Income to Net Cash by Operating Activities: Miscellaneous Revenue 7,204 48 Miscellaneous Expense (24,747) - Depreciation Expense 56,391 48,820 Change in Assets and Liabilities: Increase In Accounts Receivable (14,986) (20,365) Decrease In Inventories 84 - Increase In Accounts Payable 21,169 949 Increase (Decrease) In Accrued Salaries and Withholdings Payable 6,772 (361) Increase In Doe To Other Governmental Units 258 41 Total Adjustments 52,145 29,132 Net Cash Provided By Operating Activities $ _ 87,624 $ 178.283 110 1 CITY OF COLUMBIA HEIGHTS, MINNESOTA SEVER UTILITY ENTERPRISE FUND BALANCE SHEET DECEMBER 31, 1989 ' VITH COMPARATIVE AMOUNTS FOR DECEMBER 31, 1988 1989 1988 ' ASSETS Current Assets: Cash and Investments $ 2,281,378 $ 2,312,282 Receivables: Accounts 237,001 169,191 Intergovernmental, Current Portion 44,661 44,488 Interest 66,911 Prepaid Expense _ 501908 ' Total Current Assets _2,680,859 2,525,961 Long -term Assets: Intergovernmental Receivable, Net of Current Portion 180,644 195,112 Fixed Assets: Land 36,586 36,586 ' Buildings 26,940 26,524 Improvements Other Than Buildings 2,709,872 2,531,923 Machinery & Equipment 259,707 252,275 Office Furniture & Fixtures _ 15,047 3,414 ' 3,048,152 2,850,722 Less Accumulated Depreciation (1,600,963) (1,520,797) Fixed Assets ' (Net of Accumulated Depreciation) 1.447.169 1.329,925 ' Total Assets $ 4.308.672 $_4,050_,998 LIABILITIES AND FUND EQUITY Current Liabilities: ' Accounts Payable $ 9,708 $ 1,229 Accrued Salaries and Witholdings Payable 13,657 8,595 Total Current Liabilities 23,365 9,824 Equity Contributed Capital: ' Customers 823,877 862,812 Total Contributed Capital 823,877 862,812 Retained Earnings: Unreserved 3,461,430 3,178,362 Total Retained Earnings 3,4_ 61_430 3,178,362 Total Equity 4,28_ 5_307 4,041,174 Total Liabilities and Fund Equity $ 4,308.672 $_4,050,_998 111 Exhibit J -7 Exhibit J -8 I 112 CITY OF COLUMBIA HEIGHTS, MINNESOTA SEVER UTILITY ENTERPRISE FUND AND CHANGES ' STATEMENT OF REVENUES, EXPENDITURES IN RETAINED EARNINGS FOR THE YEAR ENDED DECEMBER 31, 1989 , PITH COMPARATIVE AMOUNTS FOR THE YEAR ENDED DECEMBER 31, 1988 1989 1988 OPERATING REVENUES Charges for Sales and Services: Sever Service Charges $ 854,443 $ 797,165 Interceptor Maintenance 21,800 20,960 i Total Operating Revenues 876,243 818,125 OPERATING EXPENSES Cost of Sales and Service 554,121 553,449 Distribution 163,927 147,277 Administration 8,833 8;769 ' Depreciation 80,704 88,074 Total Operating Expense 807,585 797,569 OPERATING INCOME 68,658 20,556 Non Operating Revenues: Interest 194,345 178,994 ' Miscellaneous Revenue 8,937 7,712 Total Nonoperating Revenues 203,282 186,706 ' Income Before Operating Transfers 271,940 262 207,262 Operating Transfer Out (27,807) (27,351) NET INCOME 244,133 179,911 Credit for Depreciation on Contributed Assets 38,935 38,935 Retained Earnings, January 1 3,178,362 2,959,516 Retained Earnings, December 31 $ 3,461,430 $ 3,178,362 112 GiTr OF WLV:avaa a�ivII1�7, asas,�awo SEVER UTILITY ENTERPRISE FUND ' STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 1989 WITH COMPARATIVE TOTALS FOR THE YEAR ENDED DECEMBER 31, 1988 1989 1988 Cash Flows From Operating Activities: Cash Received From Customers $ 808,433 $ 822,635 Cash Payments to Suppliers For Goods and Services (648,237) (625,060) Cash Payments to Employees ' For Services (101,716) (89,874) Miscellaneous Revenue 8,937 7,712 Miscellaneous Expense _._ Net Cash Provided By Operating Activities 67,417 115,413 Cash Flows From Noncapital Financing Activities: ' Operating Transfers Out to Other Funds (27,807) (27,351) Cash Flows From Capital and " Related Financing Activities: Acquisition of Fixed Assets (197,948) (83,104) Cash Flows From Investing Activities: ' Interest on Investments 127,434 178,994 Net Increase (Decrease) in Cash: (30,904) (183,952) Cash and Investments. January 1. 2,312.282 2,128,330 Cash and Investments. ' December 31 $ 2.281.378 $ 2.312.282 RECONCILIATION OF NET INCOME TO NET CASH PROVIDED BY OPERATING ACTIVITIES 1989 1988 Operating Income $ 68,658 $ 20,556 ' Adjustments to Reconcile Operating Income to Net Cash by Operating Activitiess Miscellaneous Revenue 8,937 7,712 Miscellaneous Expense - - Depreciation Expense 80,704 88,074 Change in Assets and Liabilities: (Increase) Decrease In Accounts Receivable (67,810) 4,510 (Increase) Decrease In Prepaid Expense (50,908) - ' Increase (Decrease) In Accounts Payable 8,479 (2,054) Increase (Decrease) In Accrued Salaries and ' Vithholdings Payable 5,062 (361) (Increase) Decrease In Due From Other Governmental Units 14,295 (3,024) Total Adjustments (1,241) 94.857 Net Cash Provided By Operating ' Activities $ 67.417 $____11L413 113 Exhibit J -9 CITY OF COLUMBIA HEIGHTS, MINNESOTA REFUSE UTILITY ENTERPRISE FUND BALANCE SHEET DECEMBER 31, 1989 VITH COMPARATIVE AMOUNTS FOR DECEMBER 31, 1988 / 1989 1988 ASSETS Current Assets: Cash and Investments $ (5,797) $ (59,728) Receivables: Accounts 169,790 186,534 Intergovernmental 18,812 - Interest 1,213 - Total Current Assets 184,018 126,806 Fixed Assets: Improvements Other Than Buildings 2,890 2,890 Machinery & Equipment 4,188 2,188 Office Furniture & Fixtures 440 440 7,518 5,518 Less Accumulated Depreciation (1,177) (541) Fixed Assets (Net of Accumulated Depreciation) 6,341 4,977 Total Assets $ 190,359 $ 131,783 LIABILITIES AND FUND EQUITY Current Liabilities: Accounts Payable $ 254 $ 339 Accrued Salaries and Withholdings Payable 447 - Total Current Liabilities 701 339 Equity Retained Earnings Unreserved 189,658 131,444 Total Retained Earnings 189,658 131,444 Total Liabilities and Fund Equity $ 190,359 $ 131,783 114 Exhibit J-10 t r CITY OF COLUMBIA HEIGHTS, MINNESOTA REFUSE UTILITY ENTERPRISE FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN RETAINED EARNINGS FOR THE YEAR ENDED DECEMBER 31, 1989 VITH COMPARATIVE AMOUNTS FOR THE YEAR ENDED DECEMBER 31, 1988 OPERATING REVENUES: Charges for Sales and Services: Refuse Service Charge Intergovernmental Total Operating Revenues OPERATING EXPENSES Administration Collection and Disposal Recycling Hazardous Waste Depreciation Total'Operating Expense OPERATING INCOME Non0perating Revenues: Miscellaneous Revenue Interest Income Total Nonoperating Revenues Income Before Operating Transfers Operating Transfer Out NET INCOME Retained Earnings, January 1 Residual Equity. Transfer Retained Earnings, December 31 115 1989 1988 $ 875,775 $ 641,852 42,146 917,921 641,852 8,141 - 740,402 543,333 58,745 5,807 9,555 2,350 636 442 817,479 551,932 100,442 89,920 5 - 3,522 3,527 103,969 89,920 (35,404) (55,935) 68,565 33,985 131,444 $ 97,459 .(10,351) $ 189,658 $ 131,444 Exhibit J -11 CITY OF COLUMBIA HEIGHTS, MINNESOTA REFUSE UTILITY ENTERPRISE FUND STATEMENT OF CASH FLOPS FOR THE YEAR ENDED DECEMBER 31, 1989 PITH COMPARATIVE AMOUNTS FOR THE YEAR ENDED DECEMBER 31, 1988 1989 1988 Cash Flows From Operating Activities: Cash Received From Customers $ Cash Payments to Suppliers For Goods and Services Cash Payments to Employees For Services Miscellaneous Revenue Miscellaneous Expense Net Cash Provided By operating Activities Cash Flows From Noncapital Financing Activities: Residual Equity Transfer Operating Transfers Out to Other Funds Cash Flows From Capital and Related Financing Activities: Acquisition of Fixed Assets Cash Flows From Investing Activities: Interest on Investments Net Increase (Decrease) in Cash: Cash and Investments January 1 Cash and Investments 915,853 S 608,942 (816,481) (574,267) 5 - 99,377 34,675 (10,351) - (35,404) (55,935) (2,000) (2,453) 2,309 53,931 (23,713) (59,728) (36,015) December 31 5 ( 5.797) $ (59.728) RECONCILIATION OF NET INCOME TO NET CASH PROVIDED BY OPERATING ACTIVITIES Exhibit J -12 I 1 1989 1988 ' . Operating Income S 100,442 S 89,920 Adjustments to Reconcile Operating Income to Net Cash by Operating Activities: Miscellaneous Revenue 5 - Miscellaneous Expense - - Depreciation Expense 636 442 ' Change in Assets and Liabilities: (Increase) Decrease In ' Accounts Receivable 16,744 (32,910) Increase (Decrease) In Accounts Payable (85) (22,777) Increase (Decrease) In Accrued Salaries and Vithholdings Payable 447 - (Increase) Decrease In , Due From Other Governmental Units (18,812) ' Total Adjustments (11065) (55,245) Net Cash Provided By Operating ' Activities $___99 377 S 34.675 116 Exhibit J -13 CITY OF COLUMBIA HEIGHTS, MINNESOTA LIQUOR ENTERPRISE FUND BALANCE SHEET DECEMBER 31, 1989 PITH COMPARATIVE AMOUNTS FOR DECEMBER 31, 1988 117 1989 1988 ASSETS Current Assets: Cash and Investments $ 1,032,813 $ 904,465 Receivables: Accounts 44 148 Interest 25,697 - Inventories 424,134 420,603 Total Current Assets 1,482,688 1,325,216 Fixed Assets: Land 13,051 7,125 Buildings 182,670 136,186 Improvements Other Than Buildings 99,369 103,859 Machinery & Equipment 142,775 145,522 Office Furniture & Fixtures 23,513 30,649 461,378 423,941 Less Accumulated Depreciation (179,950) (178,421) Fixed Assets (Net of Accumulated Depreciation) 281,428 245,520 Total Assets $ 1,764.116 $ 1.570,736 LIABILITIES AND FUND EQUITY Current Liabilities: Accounts Payable $ 118,384 $ 158,757 Accrued Salaries and Witholdings Payable 18,350 12,591 Due to other Governmental Units 33,063 34,434 Total Current Liabilities 167,797 205,782 Equity Retained Earnings -- Unreserved 1,596,319 1,364,954 Total Retained Earnings 1,596,319 1,364,954 Total Liabilities and Fund Equity $_1,.764 ,116 $.1.570,736 117 CITY OF COLUMBIA HEIGHTS, MINNESOTA LIQUOR ENTERPRISE FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN RETAINED EARNINGS FOR THE YEAR ENDED DECEMBER 31, 1989 PITH COMPARATIVE AMOUNTS FOR THE YEAR ENDED DECEMBER 31, 1988 OPERATING REVENUES: Charges for Sales and Services: Sales Liquor Sales Beer Sales Wine Sales Other Total Operating Revenues OPERATING EXPENSES Cost of Goods Sold Operating Expense Depreciation Total Operating Expense OPERATING INCOME Non Operating Revenues (Expense): Interest Miscellaneous Revenue Miscellaneous Expense Total Nonoperating Revenues (Expenses) Income Before Operating Transfers Operating Transfer Out NET INCOME Retained Earnings, January 1 Retained Earnings, December 31 118 1989 1988 $ 1,179,315 $ 1,122,336 1,861,438 1,832,618 383,775 412,533 270.721 223,065 3,695,249 3,590,552 3,015,661 3,006,085 417,605 372,228 33,126 30,424 3,466,392 3,408,737 228,857 181,815 74,639 65,152 536 2,135 (3,326) (1,063) 71,849 300,706 (69,341) 231,365 1,364,954 $ 1,596.319 66,224 248,039 (166,696) 81,343 1,283,611 $ 1,364,954 Exhibit J -14 I Fi J CITY OF COLUMBIA HEIGHTS, MINNESOTA ' LIQUOR UTILITY ENTERPRISE FOND Exhibit J -15 STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 1989 1 WITH COMPARATIVE TOTALS FOR THE YEAR ENDED DECEMBER 31, 1988 1989 1988 ' Cash Flows From Operating Activities: Cash Received.From Customers $ 3,695,353 $ 3,590,544 Cash Payments to Suppliers ' For Goods and Services (3,225.444) (3,134,282) Cash Payments to-Employees For Services (249.338) (223.531) Miscellaneous Revenue 536 2,135 ' Miscellaneous. Expense (3,326) (1,063) Net Cash Provided By Operating Activities 217.781 233,803 ' Cash Flows From Noncapital Financing Activities: Operating Transfers Out to Other Funds (69.341) (166,696) ' Cash Flows From Capital and Related Financing Activities: Acquisition of Fixed Assets (73,218) (58.231) ' Disposition of Fixed Assets 4.164 - Cash Flows From Investing Activities: Interest on Investments 48,942 65,152 ' Net Increase (Decrease) in Cash: 128,348 74,028 Cash and Investments, ' January 1 904,465 830,437 Cash and Investments, ' December 31 S_ 1.032.813 $ 904,465 RECONCILIATION OF NET INCOME TO NET CASH ' PROVIDED BY OPERATING ACTIVITIES 1989 1988 Operating Income $ 228,857 $ 181,815 Adjustments to Reconcile Operating Income to Net ' Cash by Operating Activities: Miscellaneous Revenue 536 2,135 Miscellaneous Expense (3.326) (1,063) Depreciation Expense 33,126 30,424 ' Change in Assets and Liabilities: (Increase) Decrease In Accounts Receivable 104 (8) ' (Decrease) In Accounts Payable (40,373) (70.760) Increase In Accrued Salaries and ' Withholdings Payable 3.759 12,591 (Increase) Decrease In Inventories (3.531) 75,725 Increase (Decrease) In Due To Other ' Governmental Units (1,371) 2,944 Total Adjustments (11,076) 51.988 Net Cash Provided By Operating Activities $ 217.781 $ 233.803 119 INTERNAL SERVICE FUNDS C imEcrty o OF u M 6 i A H E I G H T So M H Central Garage Fund -to account for the costs of operating a maintenance facility for automotive equipment used by other city departments. Such costs are billed to other departments at actual cost plus a fixed overhead factor. The automotive equipment itself is acquired by the various user departments which are responsible for financing replacement vehicles as necessary. Insurance Fund -To account for the costs of risk management services for the City. All costs for premiums and claims are recorded in the fund. Conventional insurance costs are allocated to various departments based on coverage plus a percentage risk factor. Exhibit K -1 CITY OF COLUMBIA HEIGHTS, MINNESOTA INTERNAL SERVICE FUNDS COMBINING BALANCE SHEET DECEMBER 31, 1989 9ITH COMPARATIVE TOTALS FOR DECEMBER 31, 1988 120 Central 1989 1988 Garage Insurance Total Total ASSETS Current Assets: Cash and Investments $ (116,051) $ 333,350 $ 217,299 $ 457,648 Receivable Interest 1,767 6,947 8,714 - Inventories 70,887 - 70,887 69,445 Prepaid Expense - 57,419 57,419 10,845 Total Current Assets (43,397) 397.716 354,319 537,938 Fixed Assets: Buildings 81,877 - 81,877 81,877 Improvements Other Than Buildings 9,071 - 9,071 9,071 Machinery and Equipment 81,624 - 81,624 78,974 Office Furniture and Fixtures 13,545. 13,545 10,691 186,117 - 186,117 180,613 Less Accumulated Depreciation (97,331) - 9( 7,331) (87,239) Fixed Assets (Net of Accumulated Depreciation) 88,786 88,786 93,374 Total Assets $ 451389 $ 397,716 $ 443.105 $_631,312 LIABILITIES AND EQUITY Current Liabilities: Accounts Payable $ 13,985 $ 1,358 $ 15,343 $ 24,045 Accrued Salaries and Uitholdings Payable 17,290 - 17,290 17,118 Total Current Liabilities 31,275 1,358 32,633 41,163 Equity: Municipal Funds 30,000 - 30,000 30,000 Property Owners 64,653 - 64,653 64,653 Total Contributed Capital: 94,653 - 94.653 94,653 Retained Earnings: Reserved - 396,358 396,358 370,146 Unreserved (80.539) 8( 0.539)• 125.350 Total Retained Earnings (80,539) 396.358 315.819 495.496 Total Equity 14.114 396.358 410.472 590,149 Total Liabilities and Equity $__4 5...3 8 9 $ 397.716 $_443,.105 $ 631.312 120 CITY OF COLUMBIA HEIGHTS, MINNESOTA Exhibit K -2 INTERNAL SERVICE FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN RETAINED EARNINGS FOR THE YEAR ENDED DECEMBER 31, 1989 PITH COMPARATIVE TOTALS FOR THE YEAR ENDED DECEMBER 31, 1988 121 Central 1989 1988 Garage Insurance Total Total OPERATING REVENUES Charges for Sales and Services: $ - $ 83,177 $ 80,861 Services to Departments $ 83,177 75,994 75,980 Use of Space 75,994 - Recovery of Damages 27,608 27,608 Total Operating Revenues 159,171 27,608 186,779 156,841 OPERATING EXPENSES Cost of Service and Space 177,533 - 177,533 139,120 Depreciation 10,092 - 10,092 11,494 Claims Administration - 12,471 12,471 1,867 Supplies - 353 353 - Claims - 34,589 34,589 1,928 Insurance Deductible - 2,286 2,286 - Total Operating Expense 187,625 49,699 237,324 154,409 OPERATING INCOME (Loss) (28,454) (22,091) (50,545) 2,432 Nonoperating Revenues (Expense): 5,132 20,179 25,311 26,634 Interest Miscellaneous Revenue 1,480 28,124 29,604 20,931 Total Nonoperating Revenues (Expenses) 6,612 48,303 54,915 47,565 Income Before Operating Transfers (21,842) 26,212 4,370 49,997 Operating Transfer In - - - 162,000 Operating Transfer Out (184,047) 18( 4,047) 3( 3,600) NET INCOME (Loss) (205,889) 26,212 (179,677) 178,397 Retained Earnings, January 1 125,350 370,146 495,496 317,099 Retained Earnings, December 31 $ (80.539) $___396 358 $ 315.819 $_495,496 121 RECONCILIATION OF NET INCOME TO NET CASH PROVIDED BY OPERATING ACTIVITIES Central Garage Insurance 1969 1988 Operating Income (Loss) $ (28,454) $ (22,091) $ (50,545) $ 2,432 Adjustments to Reconcile G1TI Vr 6wilun"A �'. +vasaa, orn..a,«vao Operating Income to Net Cash - . INTERNAL SERVICE FUNDS Activities: Exhibit K -3 ' COMBINING STATEMENT OF CASH FL0o8 - Depreciation Expense 10,092 FOR TEE YEAR ENDED DECEMBER 31. 1989 - Liabilities: SITS COMPARATIVE TOTALS FOR THE YEAR ENDED DECEMBER 31. 1988 (Increase) Decrease In (46,574) Central - Increase (Decrease) In 41,561 Accounts Payable Garage Insurance 1989 1988 ' Cash Flows From Operating Withholdings Payable 172 (Increase) Decrease In Activities: (1,442) (Increase) Decrease In Prepaid Expense Cash Received From Customers $ 159,171 $ 27,608 $ 186,779 $ 157,957 Cash Payments to Suppliers $ (27.981) For Goods and Services (89,127) (95,146) (184,273) (46,427) ' Cash. Payments to Employees For Services (99,505) (99,505) (88,468) Miscellaneous Revenue 1,480 28,124 29,604 20,931 Net Cash Provided (Used) By ' Operating Activities (27,981) (39,414) (67,395) 43,993 Cash Flows From Noncapital Financing Activities: ' Operating Transfers In to Other Funds - - - 162,000 Operating Transfers Out to Other Funds (164,047) - (184,047) (33,600) t- Cash Flows From Capital and Related Financing Activities: Acquisition of Fixed Assets (5,504) - (5,504) (77,748) ' Cash Flows From Investing Activities: Interest on Investments 3,365 1 13,232 16,597 26,634 ' Net Increase (Decrease) In Cash (214,167) (26,182) (240,349) 121,279 A Cash and Investments. January 1 98,116 .359,532 457,648 336,369 ' Casb and Investments. December 31 5 (116,051) $ 333.350 $ 217.299 S 457.648 RECONCILIATION OF NET INCOME TO NET CASH PROVIDED BY OPERATING ACTIVITIES Central Garage Insurance 1969 1988 Operating Income (Loss) $ (28,454) $ (22,091) $ (50,545) $ 2,432 Adjustments to Reconcile 29,604 Operating Income to Net Cash - Provided by Operating 11,494 Activities: - Miscellaneous Revenue 1,480 Miscellaneous Expense - Depreciation Expense 10,092 Change in Assets and - Liabilities: (3,864) (Increase) Decrease In (46,574) Accounts Receivable - Increase (Decrease) In 41,561 Accounts Payable (9,829) Increase (Decrease) In Accrued Salaries and Withholdings Payable 172 (Increase) Decrease In Inventories (1,442) (Increase) Decrease In Prepaid Expense Total Adjustments �4?3 Net Cash Provided By Operating Activities $ (27.981) 122 28,124 29,604 20,931 - 10,092 11,494 - - 40 1,127 (8,702) (4,116) - 172 16,000 - (1,442) (3,864) (46,574) (46,574) 1,076 (17,323) (16,850) 41,561 $ (39.414) $ (67,395) $ 43.993 Exhibit K -4 CITY OF COLUMBIA HEIGHTS, MINNESOTA CENTRAL GARAGE INTERNAL SERVICE FUND BALANCE SHEET DECEMBER 31, 1989 PITH COMPARATIVE AMOUNTS FOR DECEMBER 31, 1988 Equity Contributed Capital: Municipal Funds 30,000 30,000 Property Owners 64,653 64,653 Total Contributed - Capital- 94,653 94,653 Retained Earnings: Reserved Unreserved (80,539) 125,350 Total Retained Earnings 1989 1988 ASSETS Total Equity Current Assets: 220,003 Cash and Investments $ (116,051) $ 98,116 Interest Receivable 1,767 - Inventories 70,887 69,445 Total Current Assets (43,397) 167,561 Fixed Assets: Buildings 81,877 81,877 Improvements Other Than Buildings 9,071 9,071 Machinery & Equipment 81,624 78,974 Office Furniture & Fixtures 13,545 10,691 186,117 180,613 Less Accumulated Depreciation (97,331) (87,239) Fixed Assets (Net of Accumulated Depreciation) 88,786 93,374 Total Assets $__45,389 $ 260.935 LIABILITIES AND FUND EQUITY Current Liabilities: Accounts Payable 13,985 23,814 Accrued Salaries and Witholdings Payable 17,290 17,118 Total Current Liabilities 31,275 40,932 Equity Contributed Capital: Municipal Funds 30,000 30,000 Property Owners 64,653 64,653 Total Contributed - Capital- 94,653 94,653 Retained Earnings: Reserved Unreserved (80,539) 125,350 Total Retained Earnings (80,539) 125,350 Total Equity 14,114 220,003 Total Liabilities and Fund Equity $___45,389 $ 260,935 123 G CITY OF COLUMBIA HEIGHTS, MINNESOTA CENTRAL GARAGE INTERNAL SERVICE FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN RETAINED EARNINGS FOR THE YEAR ENDED DECEMBER 31, 1989 VITH COMPARATIVE AMOUNTS FOR THE YEAR ENDED DECEMBER 31, 1988 OPERATING REVENUES: Charges for Services: Services to Departments Use of Space .Total Operating Revenues OPERATING EXPENSES Cost of Services and Space Depreciation Total Operating Expense OPERATING INCOME (Loss) Nonoperating Revenues (Expense): Interest Miscellaneous Revenue Total Nonoperating Revenues (Expenses) Income (Loss) Before Operating Transfers Operating Transfer Out NET INCOME (Loss) Retained Earnings, January 1 Retained Earnings, December 31 124 . 1989 1988 $ 83,177 75,994 159,171 177,533 10.092 187,625 (28,454) 5,132 1,480 6,612 (21,842) (184,047) (205,889) 125,35.0 $ (80.539) Exhibit K -5 $ 80,861 75,980 156,841 139,120 11.494 150,614 6,227 12,476 12,439 24,915 31,'142 (33,600) (2,458) $ 127,808 $ 125,350 CITY OF COLUMBIA HEIGHTS, MINNESOTA Exhibit K -6 CENTRAL GARAGE INTERNAL SERVICE FUND Operating Income (Loss) STATEMENT OF CASH FL09S $ 6.227 FOR THE YEAR ENDED DECEMBER 31. 1989 VITH COMPARATIVE AMOUNTS FOR THE YEAR ENDED DECEMBER 31. 1988 1989 1988 Cash Flows From Operating Cash by Operating Activities: Activities: Cash Received From Customers $ 159,171 S 156,881 Cash Payments to Suppliers Depreciation Expense For Goods and Services (89,127) (38,918) Cash Payments to Employees For Services (99,505) (88,468) Miscellaneous Revenue 1,480 12,439 Net Cash Provided (Used) By Operating Activities (27,981) 41,934 Cash Flows From Noncapital 40 Financing Activities: Operating Transfers Out to Accounts Payable Other Funds (184.047) (33.600) Cash Flows From Capital and Related Financing Activities: Accrued Salaries and Acquisition of Fixed Assets (5,504) (77,748) Cash Flows From Investing 172 Activities: (Increase) Decrease In Interest on Investments 3,365 12.476 Net Increase (Decrease) in (1,442) Cash: (214,167) (56,938) Cash and Investments, 35,707 January 1 98,116 155,054 Cash and Investments, Activities December 31 S (116.051) S 98.116 RECONCILIATION OF NET INCOME TO NET CASH PROVIDED BY OPERATING ACTIVITIES 125 1989 1988 Operating Income (Loss) $ (28,454) $ 6.227 Adjustments to Reconcile Operating Income to Net Cash by Operating Activities: Miscellaneous Revenue 1,480 12,439 Depreciation Expense 10,092 11,494 Change in Assets and Liabilities: (Increase) Decrease In Accounts Receivable - 40 Increase (Decrease) In Accounts Payable (91829) (402) Increase (Decrease) In Accrued Salaries and Withholdings Payable 172 16.000 (Increase) Decrease In Inventories (1,442) (3,864) Total Adjustments 473 35,707 Net Cash Provided By Operating Activities $ (27.9811 S 41.934 125 Exhibit K -7 CITY OF COLUMBIA HEIGHTS, MINNESOTA INSURANCE INTERNAL SERVICE FUND BALANCE SHEET DECEMBER 31, 1989 ?ITH COMPARATIVE AMOUNTS FOR DECEMBER 31, 1988 126 1989 .1988 ASSETS Current Assets: Cash and Investments $ 333,350 $ 359,532 Interest Receivable 6,947 - Prepaid Expenses 57,419 10,845 Total Current Assets $ 397.716 $ 370.377 LIABILITIES AND EQUITY Current Liabilities: Accounts Payable $ 1,358 $ 231 Total Liabilities 1,358 231 Equity Retained Earnings Reserved 396,358 370,146 Total Retained Earnings 396,358 370,146 Total Liabilities and Equity $_397.,716 $_370,377 126 Exhibit K -8 CITY OF COLUMBIA HEIGHTS, MINNESOTA INSURANCE INTERNAL SERVICE FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN RETAINED EARNINGS FOR THE YEARS ENDED DECEMBER 31, 1989 PITH COMPARATIVE AMOUNTS FOR THE YEAR ENDED DECEMBER 31, 1988 OPERATING REVENUES Recovery of Damages Total Operating Revenues OPERATING EXPENSES Claims Administration Supplies Claims Insurance Deductible Total Operating Expense OPERATING INCOME (Loss) Non Operating Revenues (Expense): Interest Income Miscellaneous Revenue Total Nonoperating Revenues (Expenses) Income Before Operating Transfers Operating Transfer in NET INCOME Retained Earnings, January 1 Retained Earnings, December 31 127 1989 1988 $ 27,608 $ - 27,608 - 12,471 1,867 353 - 34,589 1,928 2,286 - 49,699 3,795 (22,091) (3,795) 20,179 14,158 28,124 8,492 48,303 22,650 26,212 18,855 162,000 26,212 180,855 370,146 189,291 $ 396.358 $ 370.146 Exhibit K -9 CITY OF COLUMBIA HEIGHTS. MINNESOTA INSURANCE INTERNAL SERVICE FUND STATEMENT OF CASH FLOvS FOR THE YEAR ENDED DECEMBER 31, 1989 VITH COMPARATIVE AMOUNTS FOR THE YEAR ENDED DECEMBER 31, 1988 1989 1988 Cash Flow From Operating 1989 1988 Activities, Cash Received From Damages $ 27,6.08 5 1,076 Cash Payments to Suppliers For Goods and Services (95,146) (7,509) Miscellaneous Revenue _ 28.124 8,492 Net Cash Provided (Used) By 28,124 6.492 Operating Activities (39,414) 2,059 Cash Flows From Noncapital Financing Activities: (46,574) 1,076 Operating Transfers In From Other Funds 1,127 162,000 Cash Flows From Investing (17,323) 5,854 Activities: Interest on Investments 13.232 14.158 Net Increase (Decrease) in 26,182 176,217 Cash: Cash and Investments. 359.532 181.315 January 1 Cash and Investments, $ 333.350 $ 359.532 December 31 RECONCILIATION OF NET INCOME TO NET CASH PROVIDED BY OPERATING ACTIVITIES 128 1989 1988 Operating Income (Loss) $ (22,091) $ (3,795) Adjustments to Reconcile Operating Income to Net Cash by Operating Activities: Miscellaneous Revenue 28,124 6.492 Change in Assets and Liabilities: (Increase) Decrease In Prepaid Expense (46,574) 1,076 Increase (Decrease) In Accounts Payable 1,127 (3,714) Total Adjustments (17,323) 5,854 Net Cash Provided By Operating Activities S (39.414) 128 AGENCY FUNDS C THE cn v 0 of V M B A N E I G T So M N Agency Funds are used to account for assets held by a government in a trustee or,agent capacity for individuals, private organizations, other governments or other funds. Exhibit L -1 CITY OF COLUMBIA HEIGHTS, MINNESOTA FUDICIARY FUNDS COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES - ALL AGENCY FUNDS YEAR ENDED DECEMBER 31, 1989 TOTAL ALL AGENCY FUNDS ASSETS Cash and Investments Payroll Account Otter Assets Assets Held by Deferred Compensation Trustee Total Assets LIABILITIES AND FUND BALANCES Liabilities Deposits Accounts Payable Employee Activities/ Vending Other Liabilities Deferred Compensation Payable to Employees Total Liabilities Balance Balance January 1 Additions Deletions December 31 $ 51,013 $ 4,737,591 $ 4,775,360 $ 13,244 1,000 2,613,226 2,612,624 1,602 1,096 - - 1,096 303,535 294,881 107 598,•309 $__356,_644 $_7,645.,698 $_74388,091 $__614j251 $ 17,513 $ 2,820 $ 15,001 $ 5,332 26,354 13 26,354 13 497 7,795 7,473 819 8,745 2,068,076 2,067,043 9,778 303,535 294,881 107 598,309 $ 356,644 $ 2,373,585 $_2,_115 ,978 $ 614,251 129 CITY OF COLUMBIA HEIGHTS, MINNESOTA FUDICIARY FUNDS (CONTINUED) COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES - ALL AGENCY FUNDS YEAR ENDED DECEMBER 31, 1989 Balance Balance January 1 Additions Deletions December 31 DEFERRED COMPENSATION AGENCY FUND ASSETS Assets Held By Deferred Compensation Trustee $ 228.259 $ 273,195 $ - $ 501,454 Total Assets S 228.259 S 273.195 $ LIABILITY Deferred Compensation Payable to Employees $ 228.259 $ 273,195 $ $ 501,454 Total Liability $ 228.259 $ 73,195 $ $ 501.454 BRA DEFERRED COMPENSATION AGENCY FUND ASSETS Other Assets Deferred Compensation $ 75,276 $ 21.686 $ 107 $ 96.855 Trustee Total Assets $ 75.276 $ 21.686 $ 107 S 96.855 LIABILITY Deferred Compensation Payable to Employees $ 75.276 $ 21,686 $ 107 $ 96,855 Total Liability $ 75.276 $---2-11-6 86 $ 107 $ 96.855 PERMIT SURCHARGE AGENCY FUND ASSETS Cash and Investments $ 6,647 $ 13.197 $ 10,284 $ 9,560 Total Assets $ 6.647 $ 13.197 $ 10.284 $ 9.560 LIABILITY Accounts Payable $ 112 $ - $ 112 $ - SAC /SUR Charges Payable 6.535 10.012 6.987 9.560 Total Liability $ 6.647 $ 10.012 $ 7.099 $ 9.560 ESCROW AGENCY FUND ASSETS Cash and Investments $ 44,366 $ 4,724,394 $ 4,765,076 $ 3,684 Payroll Account 1,000 2,613,226 2.612,624 1.602 Other Assets Accounts Receivable 1,096 - 11096 Total Assets $ 46.462 $ 7.337.620 $ 7.377.700 $ 6.382 LIABILITY Accounts Payable $ 26,242 $ 13 $ 26,242 $ 13 Withholding Payable 662 1,429,796 1,429.487 971 Payroll Deductions Payable 1,523 598,038 600,983 (1,422) Union Dues Payable 25 30,230 29,586 669 Deposits 17,513 2,820 15,001 5,332 Employee Activity 460 6,166 6,171 455 Vending Machines 37 1.629 1,302 364 Total Liability $ 46.462 $ 2,068.4692 $ 2.108.772 $ 6.382 130 GENERAL FIXED ASSETS C THE cm 0 of u M B A N E I 6 T S, M N GROUP OF ACCOUNTS General fixed assets are those fixed assets and capital additions of the city which are not accounted for in proprietary funds. CITY OF COLUMBIA HEIGHTS, MINNESOTA COMPARATIVE SCHEDULE OF GENERAL FT ASSETS BY SOURCE DECEMBER 31, 1989 BALANCE 01/01/89 General Fixed Assets Land $ 3,098,188 Buildings 5,142,231 Improvements other than Buildings 737,148 Office Furniture and Equipment 1,310,624 Machinery and Equipment 1,796,285 Construction in Process 1,051,664 Total General Fixed Assets $13.136.140 Investment in General Fixed Assets by Source General Obligation Bonds: Library Bonds of 1966 $ Municipal Building Bonds of 1959 Park Bonds of 1962 City Garage Bonds of 1972 Capital Improvement Bonds of 1976 Total General Obligation Bonds Exhibit M -1 BALANCE ADDITIONS DELETIONS 12/31/89 $ 102,,700 $ 66 $ 3,200,822 16,834 - 5,159,065 58,388 - 795,536 131,876 3,031 1,439,469 186,242 11,292 1,971,235 - 92.347 959.317 $ 496.040 $__106,736 $13.525.444 90,000 $ - $ - $ 90,000 150,000 - - 150,000 325,000 - - 325,000 510,00.0 - - 510,000 929,475 - - 929,475 2,004,475 Grants: Federal E.D.A. and H.U.D. 526,290 State 267,203 Total Grants 793,493 Revenue Sharing: Federal 1,761,317 Anoka County 51.550 Total Revenue Sharing 1,812,867 Balance from Current Revenues i Contributions 8,.525,305 Total Investments In General Fixed Assets $13,136,140 131 2,004,475 526,290 267.203 793.493 1,761,317 51.550 - 1,812,867 496,040 106,736 8,914,609 $ 496,040 $_ 106.736 $13.525.444 GENERAL LONG -TERM' DEBT C THE CITY 0 OF L M B I A H E I G H T So M N GROUP OF ACCOUNTS This self balancing account group is used to account for all long -term debt which is backed by the full faith and credit of the city and other long -term debt which is secured by general fund revenues. Exhibit N -1 CITY OF COLUMBIA HEIGBTS, MINNESOTA STATEMENT OF GENERAL LONG -TERM DEBT DECEMBER 31, 1989 AMOUNT AVAILABLE AND TO BE PROVIDED FOR THE PAYMENT OF GENERAL LONG -TERM DEBT Amount Available in Debt Service Funds Amount to be Provided for Retirement of: Long Term Debt Liability for Compensated Absences Housing and Redevelopment Authority: Note Payable Liability for Compensated Absences GENERAL LONG -TERM DEBT PAYABLE General Obligation Bonds Payable Liability for Compensated Absences Housing and Redevelopment Authority: Note Payable Liability for Compensated Absences 132 $12,665,931 9,104,069 312,104 125,905 4,937 $22,212,946 $21,7709'000 312,104 125,905 4,937 $22,212,946 CITY OF COLUMBIA HEIGHTS, MINNESOTA SCHEDULE OF FUNDING AVAILABLE AND FUNDS REQUIRED DECEMBER 31, 1989 Exhibit N -2 Total Cash and Investments $ 3,734,208 Cash in Escrow 8,863,500 Receivables 68,223 Total $12,665,931 Proposed Future Tax Levies* $_4,812,.776 Levy /Payable Years: 1989/90 $ 2,882,056 1990/91 2,.084,904 1991/92 1,937,820 1992/93 1,920,540 1993/94 1,895,913 1994/95 1,813,080 1995/96 1,502,058 1996/97 1,435,545 1997/98 1,209,865 1998/99 1,112,305 1999/00 1,015,975 2000/01 925,750 2001/02 254,188 Total $19,989,999 FUNDING AVAILABLE $32,655,930 Bonds /Future Interest Payable Bonds $21,770,000 Future Interest 6,073,154 FUNDS REQUIRED $27,843,154 BALANCE $_4,812,.776 * The proposed future tax levies are equal to the scheduled interest and principal payment for each year with the exception of 1990/91 and 1991/92 which do not include principal payments to be made from an escrow account of $7,063,500 and $1,800,000 respectively. 133 CITY OF COLUMBIA HEIGHTS, MINNESOTA SCHEDULE OF DEBT SERVICE REQUIREMENTS TO MATURITY DECEMBER 31, 1989 1990 19.91 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 General Obliaation Bonds Principal Interest $ 7,705,000 $ 1,333,922 2,895,000 905,544 1,180,000 752,500 1,245,000 670,830 1,310,000 582,018 1,320,000 490,160 1,095,000 405,202 1,110,000 324,895 960,000 249,865 930,000 182,305 900,000 115,975 875,000 50,750 245.000 .9,188 $21.770,000 $ 6,073.154 134 Exhibit N -3 SUPPLEMENTAL INFORMATION UNAUDITED c THE CITY 0 OF ' L M B A H E 1 G H T So M H CITY OF COLUMBIA HEIGHTS, MINNESOTA SCHEDULE OF SOURCES AND USES OF PUBLIC FUNDS FOR HOUSING AND REDEVELOPMENT AUTHORITY TAR INCREMENT FINANCING DISTRICTS DECEMBER 31, 1989 Source of Funds: Bond Proceeds Tax Increments Received Interest on Invested Funds Real Estate Sales EDA Grant Revenue Sharing Land Sale Other Total Sources of Funds Use of Funds: Land Acquisition Site Improvements or Preparation Costs Installation of Public Utilities and Improvements Other Public Improvements Bond Payments: Principal Interest Administration Costs Other Total Uses of Funds Funds Remaining of (Deficient) Original Budget $ 8,175,000 702,630 1,415,000 $ 10,292,630 $ 4,800,000 100,000 325,000 2,500,000 8,175,000 10,031,325 566,000 1,299,000 $ 27.796,325 Accounted Amended for in Budget Prior Year $ 12,895,000 753,630 1,415,000 60,000 7,000 340,000 $ 12,895,000 5,292,417 621,280 1,298,466 1,482,000 21,545 526,103 $ 15,470.630 $ 22,136,811 $ 7,034,000 465,000 365,000 4,250,000 12,895,000 14,818,403 1,008,500 1.756.500 $ 42,592.403 (17,503,695) (27,121,773) 135 $ 7,357,742 164,891 447,296 3,486,364 1,485,000 6,327,931 1,289,402 992.332 $ 21,550,958 585,853 Current Year Amount S - 1,214,548 742,534 5,463 27,445 $ 1.9.89.9.90 455,000 1,562,181 2,409 14,182 $ 2.033,772 (43,782) Amount Hemaininsz S - (6,506,965) (1,363,814) (550,299) (67,000) 60,000 (41,990) (186,103) $ (8,656.171) $ (323,742) 300,109 (82,296) 763,636 10,955,000 6,928,291 (283,311) 749,986 $ 19.007.673 (27,663,844) 136 Exhibit 0 -1 CITY OF COLUMBIA HEIGHTS, MINNESOTA Exhibit 0 -2 NOTE - SOURCES OF FUNDS FOR HOUSING AND REDEVELOPMENT AUTHORITY TAX INCREMENT FINANCING DISTRICTS DECEMBER 31, 1989 Note (1) Sources of Funds Real Estate Land Sales Property Columbia Heights Office Plaza Evanson Properties LaBelle Park Condo 11 The Gaughan Companies Columbia Heights Mall Evenson Properties LaBelle Park Condo 12 The Gaughan Companies LaBelle park Condo /3 The Gaughan Companies University Heights Housing Columbia Park Medical Clinic Columbia Park Properties Sullivan Lake Housing Subtotal Columbia Square Northeast Partners Total Land Sale Total Amount Date Cost $ 133,500 10/81 $ - 137,464 10/81 - 138,167 02/82 - 168,498 03/82 - 126,000 09/82 1 09/84 - 20,000 11/85 - 420.000 11/87 - 1.143,630 5.770,249 146,459 08/88 - $_1,290,089 $_5,770,249 Note (2) Tax exempt obligation issued on behalf of private entities Development Amount Issue Type Columbia Heights Office Plaza $ 6,000,000 Commercial Redevelopment Evenson Properties Revenue Bonds Series 1981 Columbia Heights Mall 4,000,000 Commercial Redevelopment Evanson Properties Revenue Bonds Series 1981 4111 Building South 775,000 Commercial Redevelopment Ruvelson and Associates Revenue Bonds Series 1981 LaBelle Park Condominiums 9,000,000 Commercial Redevelopment The Gaughan Companies Revenue Bonds Series 1980 Columbia Park Medical Clinic 5,000,000 Commercial Redevelopment Columbia Park Properties Revenue Bonds Series 1985 Note (3) Individual project costs vere not available to be used in Note (1) Sources of Funds. A total of all projects has been provided. 137 c THE CITY 0 OF V M B 1 A H E 1 G H T S, M N STATISTICAL SECTION UNAUDITED CITY OF COLUMBIA HEIGHTS, MINNESOTA ASSESSED VALUE, TAR CAPACITY AND WAR VALUE OF ALL T"LE PROPERTY LEVY YEARS 1980 THROUGH 1989 TABLE I LEVY YEAR /PAYABLE YEAR 1980/1981 1981/1982 1982/1983 1983/1984 POPULATION 20,029 19,800 19,670 19,560 REAL PROPERTY Assessed Value $ 85,721,087 $ 96,391,052 $ 104,763,933 $ 105,913,390 *Tax Capacity - - - Area Wide Allocation Contribution (2,000,000) (3,908,286) (4,487,006) (5,178,793) Distribution 4,383,409 8,183,307 10,544,639 12,001,080 Market Value 399,395,650 430,688,578 445,177,400 455,177,400 PERSONAL PROPERTY Assessed Value 1,295,504 1,344,094 1,333,301 1,426,869 Tax Capacity - - " Market - Commercial 3,012,800 3,125,800 3,100,700 3,100,700 TOTAL REAL AND PERSONAL PROPERTY Assessed Value 89,400,000 102,010,167 112,174,867 114,162,546 Tax Capacity - - Market Value S 358,780,600 S 402,521,450 $ 433,789,278 $ 448,495,700 RATIO OF TOTAL ASSESSED VALUE TO TOTAL Market Value :2492 :2534 :2586 :2545 RATIO OF TOTAL TAX CAPACITY TO TOTAL Market Value PER CAPITA VALUATIONS Assessed Value 4,563 5,152 5,702 5,837 Tax Capacity Market Value 17,913 20,329 22,053 22,929 *V— ;—ing with levy year 1988 /payable 1989, mill rates and assessed values are replaced by tax capacity rates and tax capacity. Unaudited 138 1984/1985 1985/1986 198611987 1987/1988 1988/1989 1989/1990 19,530 19,540 19,426 _ 19,430 19,170 20,039 $ 108,671,288 $ 113,721,411 $ 114,767,361 $ 116,314,660 $ - $ - 14,532,465 10,022,891 (4,695,234) (4,407,361) (5,778,163) (5,180,460) (725,395) (712,924) 13,663,552 14,264,696 15,650,911 _ 17,871,259 2,478,750 2,841,497 462,786,700 476,771,500 484,669,200 507,684,800 522,002,900 533,586,700 1,426,869 1,500,988 1,547,299 1,679,868 - - 208,985 212,505 3,414,600 3,511,600 3,619,300 3,927,600 4,017,800 4,234,500 119,107,884 123,079,734 126,187,395 130,685,327 - - 14,741,450 10,235,396 $_465,201,300 $ 480,283,100 $ 488,288,500 $ 511,612,400 $ 526,020,700 $ 537,821,200 :2560 :2604 :2584 :2554 :02802 :01903 6,099 6,398 6,496 6,726 - - 769 511 23,820 24,579 25,136 26,331 27,440 26,839 139 CITY OF COLUMBIA HEIGHTS, MINNESOTA TAR BATES YEARS 1980 THROUGH 1989 (TABLE II) Payable Year A City School County Metro Other (B) Total 1980 21.101 46.727 23.349 2.990 0.839 95.006 1981 18.153 41.483 25.005 3.832 0.771 89.244 1982 17.303 48.266 24.085 3.556 0.747 93.957 1983 15.438 50.156 24.492 3.877 0.576 94.539 1984 16.610 56.227 26.088 4.197 0.944 104.066 1985 16.300 50.487 23.868 4.250 1..048 95.953 1986 16.420 53.797 25.537 3.574 1.330 100.658 1987 19.472 63.234 29.414 4.223 1.136 117.479 1988 20.083 60.733 30.766 4.314 0.992 116.888 1989 15.769 51.364 27.425 3.360 0.786 98.704 (A) Beginning with payable 1989, mill rates are replaced by tax capacity rates. (B) Rice Creek Watershed, Mosquito'Control and Housing and Redevelopment Authority Unaudited 140 CITY OF COLUMBIA HEIGHTS, MINNESOTA CITY TAR LEVY YEARS 1980 THROUGH 1989 (TABLE III) Unaudited 141 City Bonds Fiscal Levy General Police Fire and Year Total Fund Relief Relief Interest 1980 1,631,608 1,151,808 104,000 85,800 290,000 1981 1,631,608 1,245,108 1 64,500 47,000 275,000 1982 1,759,284 1,356,029 125,305 57,950 220,000 1983 1,740,623 1,453,033 92,155 55,435 140,000 1984 1,757,487 1,617,500 77,313 62,673 1985 1,825,192 1,662,532 79,700 82,960 1986 1,888,616 1,725,956 79,700 82,960 1987 2,181,115 2,008,455 89,700 82,960 1988 2,391,689 2,258,872 65,242 67,575 1989 2,391,689 2,298,989 54,266 38,434 Unaudited 141 CITY OF COLUMBIA HEIGHTS, MINNESOTA TAR LEVIES AND TAR COLLECTIONS YEARS 1980 THROUGH 1989 (TABLE IV) 142 Collections Percentage Collection of Current of Levy of Prior Year's Taxes Collected Year's Taxes Year Total Tax During Fiscal During Fiscal During Fiscal Total _ tea Cul L_ evy* Period Period Year Collection 1980 1,150,273 1,122,161 97.6 21,268 39,938 1,143,429 1,114,072 1981 1982 1,090,455 1,262,780 1,074,134 1,236,497 98.5 97.9 19,120 1,255,617 X903 1,249,602 1,208,840 96.7 26,702 1,235,542 1984 1,285,324 1,253,908 97.6 20,640 25,184 1,274,548 1,281,571 1985 1986 1,286,626 1,388,616 1,256,387 1,357,255 97.6 97.7 15,494 1,372,749 1987 1,621,193 1,577,599 97.3 41,633 1,619,232 1988 1,811,445 1,754,668 96.9 18,395 1,773,063 1989 1,816,720 1,784,235 98.2 13,601 1,797,836 *Tax levy has been adjusted by the Homestead Credit (property tax replacement) which is a revenue from other agencies and has been incorporated into Table VI. Unaudited 142 Ratio Ratio Accumulated of Total Accumulated Delinquent Taxes To Collections Delinquent Current Year To Tax Levy Taxes Tax Levy .9940:1 18,864 .0163:1 1.0217:1 25,547 .0234:1 .9943:1 12,888 .0102:1 .9959:1 49,644 .0400:1 .9916:1 36,290 .02823 :1 .9961 :1 51,764 .04023:1 .9886:1 53,140 .03827:1 .9988:1 55,101 .03400:1 .9788:1 53,374 .02946:1 .9896:1 79,005 .0435:1 143 CITY OF COLUMBIA HEIGHTS. MINNESOTA SPECIAL ASSESSMENT COLLECTIONS YEARS 1980 THROUGH 1989 (TABLE V), Percentage of Current Special Current Collected Fiscal Assessment Becoming Due Current Special During Fiscal Period During Fiscal Period Assessments Collected Period 1980 122,730 62,658 51.1 1981 190,635 102,912 54.0 1982 217,810 107,815 49.5 1983 289,011 153,792 53.2 1984 299,680 186,803 62.3 1985 236,686 126,780 53.6 1986 179,812 99,460 55.3 1987 201,700 121,911 60.4 *1988 197,641 110,447 55.9 *1989 218,860 142,076 64.9 *The parking ramp at 4025 Van Buren Street NE was assessed, however, it was not included in this figure. (A) The City bills the property owner directly when a special assessment installment becomes due. If the installment becomes delinquent, it is certified to the county for inclusion on the following year's property tax statement and is shown as a delinquent collection. Unaudited 144 145 Deferred Special Assessments Delinquent Specials Total Special Collected During Assessments Delinquent Collected Balance End Of Fiscal Period (A) At End of Fiscal Period Fiscal Period Fiscal Period 41,215 87,512 136,281 602,047 70,016 111,314 287,194 509,999 94,298 94,702 301,367 1,553,493 130,298 152,744 313,682 1,048,215 119,372 154,154 236,474 857,906 140,515 132,031 92,257 640,691 118,938 110,886 223,656 697,945 86,741 108,729 236,510 616,994 50,534 149,795 143,565 1,149,826 95,361 97,030 219,588 638,341 145 d V .ti 7 d ' C P J M1 N O 10 M M .•1 M n ON n woo 10 0 M J OMIONO knom N .y P �O n t1 �D CD .•1 n J n 4 1O �G N N J1 eO 0 If1 Nn�O Y1 fDMPn 0 0 .i ON • F .er InJrlvirlonP � d c y V C 7 4. H p J e+fmOen ..In mN O d Q n NnM1 �O-f N o on nN10 PIJO m •.Ui CN O ^ Q N n n 4p NM.e00P .� .•+ n IM 0 cc n M N d N ..I u H V1NN hn•I t � y d N M V 1 0 1 1 1 1 1 1 1 N M e••1 Q � fn Ntde n O ' h < V y M v N C d O V O u1 O.•1a On J� �D * w In P 6'% U V O NN1 W Jtn NII1 N1 m d O d N T NM1P 1110 C r1 N .'1 N N P1 II'1 V1 N U ei r C �+ y E d N C N O N d J �+enOP W O 0 0 N O a IA .ti Y•1 f+1 O co 0 n .r O N m .•1 N d U N nn .y .ra aDnN m .CI �•� J V1 Lm OO N.-I N M C6 w N n .9 .•I H N a y° y C y M 'C 'O c 7 W 0 10 P J1 O O O m e+f .y P �O .•� .ti Z d O If1 1!1 IO .+ m O O N �+ C N y U •M 0 0 Go %D .4 N •.Ci H < W n en M1 u11O O c00 O— J 0 en a In .•1 %O N = N � y N O O N 1+ = Oi rl d W cm C p d 7 JM.•1n N1nN O •.e C r v en N li c' d e a tai F t 0 ,� ei Im0mNNmNaD In ap o n N n n In IONPJIOP pin .� It O � u � y N 80 _ « N N N N N N N N g l or � 0 H N e V to ad d H 'O O p O n a1 O N O O• .e J v1 7 7 4+ < e0 C9 Y ce .1 N n .•1 a n O v1 aD 10 C ��jw. d ♦1 n OntPJeo N11.1 lei > C m C I.e C CM C m 0 m10 M1PnrI P1 N J d m d M U M N V 4 10 0,4 In .� M m In %0 U .•1 .•1 N N v1 H rl rl 2 O. O �j, � .•1 N W wi •.41 U O y d •CI .dC A m ++ «+ N J m P � m O N rl P N M N a .•1 IO .•1 .•1 m O O pa J N 0 P I+1 e•/ 0 Nf V Ip C ON P'1NMIJPIO P O .i .•1 d a0 �p Nn.•1nNU'ltna P C O• C C p J GO Lei N en d .e M •.1 F ..1 .•1 re H NNN NN N C •N C M 'O d C C y 7 ►, C C N u d M 00 M OD .•1 k• Ci m ^ m eo IA eA Ifl O T In III m d p yl P PPP ^PP ^P _ A6 d V .ti 7 d ' C 'O d N M 'O 7 0 0 d' r-I M n .•1 W N N O n W W m CC4 0 W Na 0 %a .4Nen W W %0 a 10 .4 O ne0 Oa0 W O n 0, r1 P. din NN e0 a1 N In O n 10 a 0� O VI! Y'1 O �+ a Na en InNNn 0% 0% ' N e0 n LM e0 M1 0 .y .ti n en a MfOiOaOiVtan n y en dnOO^I W In0 W r% WNNta NV e0 r1W .H O � � N n OO�C4 n V4 n.•1 N w n 10 W±AMOImtO en L M p > W ONNM1n10.Inna O� y Iw en 0 an0 W 00&1 O% Q V en 0001M1nN co P% n1 U3 ..1 .•/ .N H M V •C C 41 O D, PU%enenm M a % OD n O+ f•1 ..e e0 10 W In O to a.1 V Z d �0 a NM1O amMON 0 N a h Mf W ✓1 r1 e0 W O y 4 L O InMNV1 W %OO O Or e0 We0e0nnWON a 7 N � C O 6 N OaoP.N4n op 4r aW0 W O aM1�MfW e0 'nN a U fp • • co In N M1 .i M1 Mt 4 y � N eD N W W 10N NC0 Nen W.-INNNNNen en fn M H � N m a .•e v d Qp p in .0 InGo a�n.0LM0 a -.r 7 .. •.+ a a co .4 n :+ In CO o o u .t V n N�0✓1 .aa W Nn M G 1.4 .. ♦J W W In eO ea N r1 in O O N e0 4af, mWnW 0% N N a N a d a V1 .'e C "y O '.0 4ri y N M = Wes± to N Q fA d u 'O W W M W n10 O rl M0 W Mp C +e m M1 0 a en 17 iL en H O U1 P .r 10 N 0 M1 W M O N � oq •m e � en .6 0, en in h .o In eo in In n Aj u -4 < a 40 C V C 8 O d S O O N d0NW N O O v O a P 0% N en In O� O n .O� O. 0 tOaW WN10We•f O n Q �4 od O py . M J1 ..1 d A oa1:aO VW 1O + •W + V W P W eft M N W Id fL d p y W N n r tO N W 0% N a .•1 r•1 rl rl rl r4 ri of N N u .T. 403, -P4 u M w a iA a W O. W vi in W a N n eO M .•1 O .4 co pp d rl d O� rl N a 01 n .r f0 1 0% d0 Y W WN%O Mf 0 LM -W a C co a Q V W M1 P'1 a 10 W rl M .y d ei M p; a in W In W W W 01 O •'1 C� W .•.1 0 j. O r1 N M1 a c1 e0n W O+ M I+ fn a V f0 W W co co co co co Co W W d to 61 0 0% O+ , .. so v 'O d N M 'O 7 0 0 d' r-I Tyre of Coverage Property (Box Co- insurance - S1,000 Deductible) city Hall Library city Garage Liquor Store - 40th Ave. Liquor Store - Uriversity Avenue Liquor Store - Central Avenue �uirmunity Center :ullivan Park eater Tower Parking Ramp Total Property ,Liquor Liability General Liability Law Enforcement grime Auio liability UrAns;:re4 Xctcrists Lorprehe: sive Cctierage Worker's Compensation vaaudited CITY OF COLUMBIA HEIGETS, MINNESOTA SCHEDULE OF INSURANCE IN FORCE DECEMBER 31, 1989 (TABLE VIII) Coverage Period Amount of Building From To Insurance Or Structure Contents 2/13/89 2/13/90 5/22/89 5/22/90 5/09/89 5/09/90 5/09,189 5; 09/90 2/13/89 2/13;90 5/091189 5/09;90 2/13/89 2/13/90 148 $ 500,000 600,000 500,000 100,000 600,000 600,000 $500 deductible per vehicle Statutory S 2,331,586 1,007,000 1,626,321 160,000 169,324 2,500,000 108,129 346,649 1,300,000 5- 9.749,009 $ 551.982 1,302,530 140,792 112,662 630,178 500,000 392,478 $_3,610,622 CITY OF COLUMBIA HEIGHTS, MINNESOTA COMBINING SCHEDULE OF BONDS PAYABLE DECEMBER 31, 1989 (TABLE I%) PERMANENT IMPROVEMENT BONDS: General Obligation Refunding Improvement Bonds 1987 Series A All bonds maturing on or after March 1, 1992, shall be subject to redemption and prior payment in whole or in part in inverse order of maturity and by lot within maturity at the option of the issue on March 1, 1991, and any interest payment date thereafter at a price of the principle amount thereof plus accrued interest. Total Permanent Improvement Bonds Unaudited Interest Bates and Issue Maturity Dates Date Date 5.502 3/1 -9/1 5.752 6.001 6.202 6.402 6.601 149 6/1/87 3/1/95 Remaining • Interest Annual Original Serial Balance Balance Paid In issue Payments 1/01/89 Sold Retired 12/31/89 Current Yeai $ 2.230,000 $ - 265,000 275,000 275,000 280,000 300,000 330,000 $ 1,985,000 $ - $ 260,000 $1,725,000 $ 112,053 (90) (91) (92) (93) (94) (95) $ 1.985.000 $_ $ 260.000 $ 1,725.000 $ 112.053 150 CITY OF COLUMBIA HEIGHTS, MINNESOTA COMBINING SCHEDULE OF BONDS PAYABLE DECEMBER 31, 1989 (TABLE I% CONTINUED) GO Tax Increment Bonds Series 1980 Bonds maturing in 1991 and later years will be subject to redemption and prepayment at the option of the City in inverse order of serial numbers on March 1, 1990, and any interest payment date thereafter, at specified redemption prices plus accrued interest to the date of redemption. Interest Rates and Issue Maturity Dates Date Date 8.001 3/1 -9/1 8.001 8.001 8.001 8.001 8.001 8.101 8.251 8.402 8.502 8.602 8.751 8.751 9/1/80 3/1/02 CO Tax Increment Bonds Series 1984 6/1/84 3/1/94 Bonds maturing on or after 8.501 3/1 -9/1 March 1, 1992, will be subject 8.752 to redemption and prepayment at 9.001 the option of the City in inverse 9.201 order on March 1, 1991, and any 9.402 interest payment date thereafter at 1002 of their principal plus accrued interest. (A) For the GO Tax Increment Bonds Series 1980, the remaining serial payments for the years 1991 - 2002, a total of $6,925,000, is in an escrow account as a result of the 1987 refunding issue. This escrow account will be used to pay all bonds maturing on or after March 1, 1991. Unaudited 151 Remaining Interest Annual Original Serial Balance Balance Paid In 12/91/89 Current Year Issue Payments (A) 1/01/89 Sold Retired $ 8,175,000 $ 1,070,000 350,000 (90) 425,000 (91) 475,000 (92) 525,000 (93) 550,000 (94) 650,000 (95) 700,000 (96) 700,000 (97) 700,000 (98) 700,000 (99) 700,000 (00) 700,000 (01) 100,000 (02) 115,000 (90) 125,000 (91) 135,000 (92) 145,000 (93) 160,000 (94) $ 7,575,000 $ - $ 300,000 $7,275,000 $ 612,950 785,000 152 105,000 680,000 65,574 CITY OF COLUMBIA HEIGHTS, MINNESOTA COMBINING SCHEDULE OF BONDS PAYABLE DECEMBER 31, 1989 (TABLE I% CONTINUED) Interest Rates and Dates GO Tax Increment Bonds of 1985 Series A 5.752 3/1 -9/1 Bonds maturing on or after March 1, 7.202 3/1 -9/1 1992, will be subject to redemption 7.402 and prepayment at the option of 7.602 the issuer in inverse order of 7.802 serial numbers on March 1, 1991, 8.002 and any interest payment date 8.202 thereafter at a price equal to 8.402 par plus accrued interest to the 8.602 date of redemption. 8.802 9.002 9.002 9.002 9.002 GO TI Refunding Bonds of 1987, Series A Bonds maturing on or after 5.752 3/1 -9/1 March 1, 1995, will be subject 6.002 to redemption and prepayment in 6.202 whole or in part in inverse order 6.402 of maturity at the option of the 6.602 issuer on March 1, 1994, and any 6.802 interest payment date thereafter 7.002 at a price of the principal amount 7.102 thereof plus accrued interest. 7.202 7.302 7.402 7.502 Issue . Maturity Date Date 9/1/85 3/1/02 6/1/87 3/1/02 (B) For the GO Tax Increment Bonds of 1985, Series A, the remaining serial payments for the years 1992 - 2002, a total of $1,800,000, is in an escrow account as a result of the 1987 refunding issue. This escrow account will be used to pay all bonds maturing on or after March 1, 1992. Unaudited 153 Remaining Interest enaual Original Serial Balance Balance Paid In Issue Payments (B) 1/01/89 Sold d 12/31/89 Current Yeas $ 2,100,000 $ _ 50,000 50,000 55,000 55,000 55,000 100,000 150,000 175,000 240,000 240,000 240,000 240,000 250,000 9,090,000 $ 1,950,000 $ (90) (91) (92) (93) (94) (95) (96) (97) (98) (99) (00) (01) (02) 9,090, 000 525,000 (91) 640,000 (92) 680,000 (93) 695,000 (94) 820,000 (95) 910,000 (96) 910,000 (97) 960,000 (98) 930,000 (99) 900,000 (00) 875,000 (01) 245,000 (02) 154 $ 50,000 $1,900,000 $ 166,190 _ 9,090,000 619,82 CITY OF COLUMBIA HEIGHTS, MINNESOTA COMBINING SCHEDULE OF BONDS PAYABLE DECEMBER 31, 1989 (TABLE IX CONTINUED) Interest Rates and Issue Maturity Dates Date -Date _ GO Taxable TI Bonds of 1987 All bonds maturing on or after 8.405 2/1 -8/1 February 1, 1994, shall be subject 8.605 to redemption and prior payment 8.755 in whole or in part in inverse 8.905 order of maturity at the option 9.002 of the issuer on February 1, 1993, 9.105 and any interest payment date 9.105 thereafter at a price of par plus accrued interest. Total General Obligation Tax Increment Bonds Total Bonds Payable - All Funds Unaudited 155 8/1/87 2/1/97 Remaining Annual Interest Original Serial Balance Balance Paid In Issue Payments 1/01/89 Sold Retired 12/31/89 Current Year S 1,100.000 $ - $ 1,100,000 $ 120,000 130.000 140,000 155,00.0 170,000 185,000 200,000 (91) (92) (93) (94) (95) (96) (97) - $ - $ 1.100,000 $ 97,640 20,500,000 455,000 20,0459000 1,562,181 $22,485,000 $ $ 715,000 $21.770,000 $1,674,234 156 CITY OF COLUMBIA HEIGHTS, MINNESOTA PRINCIPAL CITY OFFICIALS YEAR ENDED DECEMBER 31, 1989 (TABLE %) Administration: Robert S. Bocwinski Name Official Title Mayor and Council: William Elrite Dale V. Hadtrath Mayor Edward M. Carlson Councilmember, Mayor - Elect Russell D. Paulson Councilmember Rita M. Petkoff Councilmember Gary L. Peterson Councilmember Bruce G. Nawrocki Councilmember - Elect Sean T. Clerkin Councilmember - Elect Administration: Robert S. Bocwinski City Manager Linda Magee Administrative Assistant William Elrite City Clerk- Treasurer, Finance Director Phil Suckerman Liquor Operations Manager Ronald Kalina City Attorney Fred Salsbury Public Works Director, City Engineer Stuart Anderson Chief of Police Charles Kewatt Chief of Fire LeRoy Goranson Building Inspector Martin Gavic Plumbing Inspector Dennis Joriman Electrical Inspector Donald Jolly Superintendent of Public Works John Tiggas Recreation and Community Services Director Rebecca Loader Librarian Unaudited 157 CITY OF COLUMBIA HEIGHTS, MINNESOTA MISCELLANEOUS STATISTICAL FACTS 1989 (TABLE RI) Date of Incorporation March 14, 1898 Date of Adoption of City Charter July 21, 1921 Form of Government Council - Manager Fiscal Year Begins January 1 Area of City 3.52 Square Miles Miles of Streets and Alleys: Trunk Highways 3.0 County 6.2 City Streets 61.8 Alleys 18.9 Miles of Sewers: Storm Sewers 33.6 Sanitary Sewers 59.0 Watermain Miles 66.1 Building Permits Issued: 1980 555 1981 644 1982 503 1983 540 1984 525 1985 508 1986 513 1987 556 1988 535 1989 473 Estimated Construction Cost for Issued Permits: 1980 $ 3,264,460 1981 8,822,479 1982 13,757,934 1983 7,829,198 1984 12,059,779 1985 4,938,226 1986 13,269,300 1987 4,215,085 1988 8,916,756 1989 5,180,247 Unaudited 158 CITY OF COLUMBIA HEIGHTS, MINNESOTA MISCELLANEOUS STATISTICAL'FACTS (TABLE %I CONTINUED) Fire Protection: Number of Stations 1 Number of Employees: 12,605 Full Time 8 Volunteer 25 Police Protection: Number of Stations 1 Number of Employees 25 Parks: 5,613 City Parks 13 Playground 11 County Park 1 Schools: 23,997 Senior High 1 Junior High 1 Elementary 3 Parochial Elementary. 1 Employees: (as of December 31, 1989) 19,560 Regular 107 Part Time and Temporary 427 534 Elections: Registered voters - last City general election 12,605 Number of votes cast last City general election 4,568 Percentage of registered voters voting 36.22 Population: 1900 123 1920 2,968 1930 5,613 1940 6,035 1950 8,175 1960 17,533 1970 23,997 1975 (mid- decade census) 23,316 1980 (census) 20,029 1981 19,800 1982 19,670 1983 19,560 1984 19,530 1985 19,540 1986 19,426 1987 19,430 1988 19,170 1989 20,039 159 CITY OF COLUMBIA HEIGHTS, MINNESOTA PRINCIPLE TAXPAYERS DECEMBER 31, 1989 (TABLE XII) Percentage of Total Taxpayer Type of Business Market Value Market Value Kraus - Anderson Zaidan Holdings, Inc. Zaidan Holdings, Inc. James Lupient K -Mart Corporation Columbia Park Properties Medtronic Crestview "Boulevard Apartments" Senior Housing City of Columbia Heights Shopping Mall $ 4,822,700 Office Building 4,800,000 Shopping Mall 4,000,000 Apartment Buildings 3,599,100 Discount Store 3,336,300 Medical Building 3,345,000 Medical Manufacturing 3,088,000 Apartment Buildings 2,208,600 Apartment Buildings 1,995,900 Parking Ramp 1,639,700 $ 32.835.300 Source: Anoka County Assessor's Office Unaudited 1 160 0.90 0.90 0.75 0.67 0.62 0.62 0.58 0.41 0.37 0.31 6.13 CITY OF COLUMBIA HEIGHTS. MINNESOTA STATEMENT OF LEGAL DEBT MARGIN DECEMBER 31, 1989 (TABLE XIII) Market Value Debt Limit 22 of Market Value (Note A). Amount of Debt Applicable to Debt Limit: Total Bonded Debt Less Note B: Tax Increment GO Refunding Improvement $21,770,000 $20.045.000 1.725.000 21,770.000 Total Debt Applicable to Debt Limit Legal Debt Margin Note (A) : $537,821,200 10.756,424 -0- $ 10.756.424 H.S.A. Section 475.53 (Limit on Net Debt) Subdivision 1. Generally. Except as otherwise provided in sections 475.51 to 475.75, "no municipality, except a school district or a city of the first class, shall incur or be subject to a net debt in excess of 2 percent of the market value ". Note (B): M.S.A. Section 475.51 Definitions Subdivision 4. "Net debt" means the amount remaining after deducting from its gross debt the amount of current revenues which are applicable within the current fiscal year to the payment of any debt and the aggregate of the principal of the following: 1. Obligations issued for improvements which are payable wholly or partly from the proceeds of special assessments levied upon property specially benefitted thereby, including those which are general obligations of the municipal issuing them, if the municipality is entitled to reimbursement in whole or in part from the proceeds of the special assessments. 2. Warrants'or orders having no definite or fixed maturity. 3. Obligations payable wholly from the income from revenue producing conveniences. 4. Obligations issued to create or maintain a permanent improvement revolving fund. 5. Obligations issued for the acquisition and betterment of public waterworks systems and public lighting, heating or power systems, and of any combination thereof or for any other public convenience from which a revenue can be derived. 6. Debt service loans and capital loans made to a school district under the provisions of sections 124.42 and 124.43. 7. Amount of all money and face value of all securities held as a debt service fund for the extinguishment of obligations other than those deductible under this subdivision. S. All other obligations which under the provisions of law authorizing their issuance are not to.be included in.computing the net debt of the municipality. Unaudited 161 r OTHER REQUIRED REPORTS TM CM OF N M N PANNELL KERR FORSTER ' Certified Public Accountants 400 Park National Bank Bldg. ' INDEPENDENT AUDITOR'S REPORT 5353 Wayzata Boulevard Minneapolis, MN 55416 ON SCHEDULE OF Telephone (612) 545 -0421 Telefax 612 - 545 -0569 ' FEDERAL FINANCIAL ASSISTANCE City Council and Residents ' City of Columbia Heights Columbia Heights, Minnesota We have audited the general purpose financial statements of the City of Columbia Heights, Minnesota, for the year ended December 31, 1989, and have issued our report thereon dated April 10, 1990. These general purpose financial statements ' are the responsibility of the City's management. Our responsibility is to express an opinion on these general purpose financial statements based on our audit. We conducted our audit in accordance with generally accepted auditing standards and Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial state- ments are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the general purpose financial statements. An audit also includes assessing the accounting prin- ciples used and significant estimates made by management, as well as evaluating the overall general purpose financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. Our audit was made for the purpose of forming an opinion on the general purpose financial statements taken as a whole. The accompanying Schedule of Federal Financial Assistance is presented for purposes of additional analysis and is not a required part of the general purpose financial statements of the City of Columbia Heights. The information in this schedule has been subjected to the auditing procedures applied in the audit of the general purpose financial state- ments and, in our opinion, is fairly stated in all material respects in relation to the general purpose financial statements taken as a whole. Z/,e, /Z 1'600e,� April 10, 1990 CITY OF COLUMBIA HEIGHTS SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE Year Ended December 31, 1989 Federal Grantor /Pass - Through Grantor /Program Title City of Columbia Heights Grants: U.S. Department of Education Passed Through Independent School District No. 13 - Carl Perkins Housing and Redevelopment Authority of Columbia Heights Grants: U.S. Department of Housing and Urban Development (HUD) Direct: Low Income Housing Assistance Program Passed Through Metropolitan Council: Section 8 Housing Assistance Payments Program for Administrative Services Passed Through Anoka County Community Development Block Grant Program: Community Development Block Grant (CDBG) Passed Through Minnesota Housing Finance Agency: Rental Rehabilitation Program Total Federal Financial Assistance Federal Federal CFDA Grant Number Amount Current Year Activity Revenue Federal Expenditures 84.048 $ 5,807 $ 5,807 $ 5,807 14.146 2,815 2,815 2,815 14.156 37,143 37,143 37,143 14.219 306,582 146,578 146,578 14.230 3,150 3,150 3,150 $195,493 $195,493 I1 n INDEPENDENT AUDITOR'S REPORT ON INTERNAL CONTROL STRUCTURE BASED SOLELY ON A STUDY AND EVALUATION MADE AS A PART OF AN AUDIT OF THE GENERAL PURPOSE FINANCIAL STATEMENTS City Council and Residents City of Columbia Heights Columbia Heights, Minnesota PANNELL KERR FORSTER Certified Public Accountants 400 Park National Bank Bldg. 5353 Wayzata Boulevard Minneapolis, MN 55416 Telephone (612) 545 -0421 Telefax 612 - 545 -0569 We have audited the general purpose financial statements of the City of Columbia Heights, Minnesota, for the year ended December 31, 1989, and have issued our report thereon dated April 10, 1990. We conducted our audit in accordance with generally accepted auditing standards and Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial state- ments are free of material misstatement. In planning and performing our audit of the general purpose financial statements of the City of Columbia Heights for the year ended December 31, 1989, we con- sidered its internal control structure in order to determine our auditing proce- dures for the purpose of expressing our opinion on the general purpose financial statements and not to provide assurance on the internal control structure. The management of the City of Columbia Heights is responsible for establishing and maintaining an internal control structure. In fulfilling this respon- sibility, estimates and judgements by management are required to assess the expected benefits and related costs of internal control structure policies and procedures. The objectives of an internal control structure are to provide management with reasonable, but not absolute, assurance that assets are safe- guarded against loss from unauthorized use or disposition, and that transactions are executed in accordance with management's authorization and recorded properly to permit the preparation of general purpose financial statements in accordance with generally accepted accounting principles. Because of inherent limitations in any internal control structure, errors or irregularities may nevertheless occur and not be detected. Also, projection of any evaluation of the structure to future periods is subject to the risk that procedures may become inadequate because of changes in conditions or that the effectiveness of the design and operation of policies and procedures may deteriorate. (Continued) ' For the purpose of this report, we have classified the significant internal control structure policies and procedures in the following categories: cash receipts /revenue, cash disbursements /expenditures, payroll, and external finan- cial reporting. Our consideration of the internal control structure included all of the control ' categories listed above. The purpose of our consideration of the internal control structure was to determine the nature, timing, and extent of the auditing procedures necessary for expressing an opinion on the general purpose financial statements. ' We noted certain matters involving the internal control structure and its opera- tion that we consider to be reportable conditions under standards established by ' the American Institute of Certified Public Accountants. Reportable conditions involve matters coming to our attention relating to significant deficiencies in the design or operation of the internal control structure that, in our judge- ' ment, could adversely affect the entity's ability to record, process, summarize, of and report financial data consistent with the assertions management in the general purpose financial statements. ' Because of the limited size of your office staff, your organization has limited segregation of duties. A good system of internal accounting control con- templates an adequate segregation of duties so that no one individual handles a ' transaction from inception to completion. While we recognize that your organi- zation is not large enough to permit an adequate segregation of duties in all respects, it is important that you be aware of this condition. ' A material weakness is a reportable condition in which the design or operation of the specific internal control structure elements does not reduce to a relatively low level the risk that errors or irregularities in amounts that ' would be material in relation to the general purpose financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. ' Our consideration of the internal control structure would not necessarily disclose all matters in the internal control structure that might be reportable ' conditions and, accordingly, would not necessarily disclose all reportable con- ditions that are also considered to be material weaknesses as defined above. We believe that the reportable condition described above is a material weakness. In our letter to the City Council, issued in connection with our audit of the City's general purpose financial statements, we have separately communicated our observations and recommendations regarding other matters. This report is intended solely for the use of the City Council and management of the City of Columbia Heights, the cognizant audit agency, and other federal agencies and should not be used for any other purpose. This restriction is not ' intended to limit the distribution of this report which, upon acceptance by the City Council, is a matter of public record. April 10, 1990 0 I INDEPENDENT AUDITOR'S REPORT ON INTERNAL ACCOUNTING CONTROLS (ACCOUNTING AND ADMINISTRATIVE) BASED ON A STUDY AND EVALUATION MADE AS A PART OF AN AUDIT OF THE GENERAL PURPOSE FINANCIAL STATEMENTS AND PANNELL KERR FORSTER Certified Public Accountants 400 Park National Bank Bldg. 5353 Wayzata Boulevard Minneapolis, MN 55416 Telephone (612) 545 -0421 Telefax 612 - 545 -0569 ADDITIONAL TESTS REQUIRED BY THE SINGLE AUDIT ACT City Council and Residents City of Columbia Heights Columbia Heights, Minnesota We have audited the general purpose financial statements of the City of Columbia Heights, Minnesota, for the year ended December 31, 1989, and have issued our report thereon dated April 10, 1990. As a part of our audit, we made a study and evaluation of the internal control systems, including applicable internal administrative controls, used in administering federal financial assistance programs to the extent we considered necessary to evaluate the systems as required by generally accepted auditing standards, the standards for financial and compliance audits contained in the Government Auditing Standards, issued by the Comptroller General of the United States, the Single Audit Act of 1984, and the provisions of OMB Circular A -128, Audits of State and Local Governments. For the purpose of this report, we have classified the significant internal accounting and administrative controls used in administering federal financial assistance programs in the following categories: cash receipts /revenue, cash disbursements /expenditures, payroll, external financial reporting, and grant administration. The management of the City of Columbia Heights is responsible for establishing and maintaining internal control systems used in administering federal financial assistance programs. In fulfilling that responsibility, estimates and judge- ments by management are required to assess the expected benefits and related costs of control procedures. The objectives of internal control systems used in administering federal financial assistance programs are to provide management with reasonable, but not absolute, assurance that, with respect to federal financial assistance programs, resource use is consistent with laws, regula- tions, and policies; resources are safeguarded against waste, loss, and misuse; and reliable data are obtained, maintained, and fairly disclosed in reports. (Continued) ' Because of inherent limitations in any system of internal accounting and admin- istrative controls used in administering federal financial assistance programs, errors or irregularities may nevertheless occur and not be detected. Also, pro- ' jection of any evaluation of the systems to future periods is subject to the risk that procedures may become inadequate because of changes in conditions or that the degree of compliance with the procedures may deteriorate. ' Our study included all of the applicable control categories listed above. During the year ended December 31, 1989, the City had no major federal financial assistance programs and expended 75% of its total federal financial assistance ' under the following nonmajor federal financial assistance program: Community Development Block Grant. With respect to internal control systems used in administering this nonmajor federal financial assistance program, our study and ' evaluation included considering the types of errors and irregularities that could occur, determining the internal control procedures that should prevent or detect such errors and irregularities, determining whether the necessary proce- dures are prescribed and are being followed satisfactorily, and evaluating any ' weaknesses. Our study and evaluation was more limited than would be necessary to express an ' opinion on the internal control systems used in administering the federal finan- cial assistance programs of the City. Accordingly, we do not express an opinion on the internal control systems used in administering the federal financial ' assistance programs of the City. Also, our audit, made in accordance with the standards mentioned above, would not necessarily disclose material weaknesses in the internal control systems for ' which our study and evaluation was limited to a preliminary review of the systems, as discussed in the fifth paragraph of this report. ' However, our study and evaluation and our audit disclosed that because of the limited size of your office staff, your organization has limited segregation of duties. A good system of internal accounting control contemplates an adequate segregation of duties so that no one individual handles a transaction from inception to completion. While we recognize that your organization is not large enough to permit an adequate segregation of duties in all respects, it is impor- tant, however, that you be aware of this condition. ' In our letter to the City Council, issued in connection with our audit of the City's general purpose financial statements, we have separately communicated our ' observations and recommendations regarding other matters. These conditions were considered in determining the nature, timing, and extent ' of the audit tests to be applied in (1) our audit of the 1989 general purpose financial statements and (2) our audit and review of the City's compliance with laws and regulations noncompliance with which we believe could have a material effect on the allowability of program expenditures for nonmajor federal finan- cial assistance programs. This report does not affect our reports on the general purpose financial statements and on the City's compliance with laws and regulations dated April 10, 1990. (Continued) ' This report is intended solely for the use of the City Council and management of the City of Columbia Heights, the cognizant audit agency, and other federal agencies and should not be used for any other purpose. This restriction is not ' intended to limit the distribution of this report, which, upon acceptance by the City Council, is a matter of public record. April 10, 1990 INDEPENDENT AUDITOR'S COMPLIANCE REPORT BASED ON AN AUDIT OF THE GENERAL PURPOSE FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS City Council and Residents City of Columbia Heights Columbia Heights, Minnesota PANNELL KERR FORSTER Certified Public Accountants 400 Park National Bank Bldg. 5353 Wayzata Boulevard Minneapolis, MN 55416 Telephone (612) 545 -0421 Telefax 612 - 545 -0569 We have audited the general purpose financial statements of the City of Columbia Heights, Minnesota, for the year ended December 31, 1989, and have issued our report thereon dated April 10, 1990. We conducted our audit in accordance with generally accepted auditing standards and Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial state- ments are free of material misstatement. Compliance with laws, regulations, contracts, and grants applicable to the City of Columbia Heights is the responsibility of the City's management. As part of obtaining reasonable assurance about whether the general purpose financial statements are free of material misstatement, we performed tests of the City's compliance with certain provisions of laws, regulations, contracts, and grants. However, our objective was not to provide an opinion on overall compliance with such provisions. The results of our tests indicate that, with respect to the items tested, the City of Columbia Heights complied, in all material respects, with the provisions referred to in the preceding paragraph. With respect to items not tested, nothing came to our attention that caused us to believe that the City had not complied, in all material respects, with those provisions. This report is intended solely for the use of the City Council and management of the City of Columbia Heights, the cognizant audit agency, and other federal agencies and should not be used for any other purpose. This restriction is not intended to limit the distribution of this report which, upon acceptance by the City Council, is a matter of public record. April 10, 1990 PANNELL 1 KERR FORSTER ' Certified Public Accountants INDEPENDENT AUDITOR'S REPORT ON 400 Park National Bank Bldg. ' 5353 Wayzata Boulevard COMPLIA14CE WITH LAWS AND REGULATIONS Minneapolis, MN 55416 Telephone (612) 545 -0421 RELATED TO FEDERAL FINANCIAL Telefax 612- 545 -0569 ASSISTANCE PROGRAMS 1 City Council and Residents ' City of Columbia Heights Columbia Heights, Minnesota ' In connection with our audit of the general purpose financial statements of the City of Columbia Heights, Minnesota, and with our study and evaluation of the City of Columbia Heights' internal control systems used to administer federal ' financial assistance programs, as required by OMB Circular A -128, Audits of State and Local Governments, we selected certain transactions applicable to cer- tain nonmajor federal financial assistance programs for the year ended ' December 31, 1989. As required by OMB Circular A -128, we have performed auditing procedures to test compliance with the requirements governing types of services allowed or unallowed, eligibility, and any other procedures that are applicable to those transactions. Our procedures were substantially less in scope than an audit, the objective of which is the expression of an opinion on the City of Columbia ' Heights' compliance with these requirements. Accordingly, we do not express such an opinion. With respect to the items tested, the results of those procedures disclosed no material instances of noncompliance with the requirements listed in the pre- ceding paragraph. With respect to items not tested, nothing came to our atten- tion that caused us to believe that the City of Columbia Heights had not complied, in all material respects, with those requirements, except as noted on the Schedule of Findings. This report is intended solely for the use of the City Council and management of the City of Columbia Heights, the cognizant audit agency, and other federal agencies and should not be used for any other purpose. This restriction is not intended to limit the distribution of this report which, upon acceptance by the City Council, is a matter of public record. April 10, 1990 INDEPENDENT AUDITOR'S REPORT ON COMPLIANCE WITH MINNESOTA STATE LAWS AND REGULATIONS City Council and Residents City of Columbia Heights Columbia Heights, Minnesota TX 1.1 L KERR FORSTER Certified Public Accountants 400 Park National Bank Bldg. 5353 Wayzata Boulevard Minneapolis, MN 55416 Telephone (612) 545 -0421 Telefax 612- 545 -0569 We have audited the general purpose financial statements of the City of Columbia Heights, Minnesota, for the year ended December 31, 1989, and have issued our report thereon dated April 10, 1990. Our audit was made in accordance with generally accepted auditing standards and the provisions of the Legal Compliance Audit Guide promulgated by the Legal Compliance Task Force pursuant to Minnesota Statutes Section 6.65. Accordingly, the audit included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances. The Legal Compliance Audit Guide covers five main categories of compliance to be tested: contracting and bidding, deposits and investments, conflicts of interest, public indebtedness, and claims and disbursements. Our study included all of the listed categories. The results of our tests indicate that for the items tested the City of Columbia Heights complied with the material terms and conditions of applicable legal provisions. Further, for the items not tested, based on our audit and the procedures referred to above, nothing came to our attention to indicate that the City had not complied with such legal provisions. This report is intended solely for the use of the City Council and management of the City of Columbia Heights, the cognizant audit agency, and other federal agencies and should not be used for any other purpose. This restriction is not intended to limit the distribution of this report which, upon acceptance by the City Council, is a matter of public record. April 10, 1990 CITY OF COLUMBIA HEIGHTS SCHEDULE OF FINDINGS Year Ended December 31, 1989 Reference Finding Related to the Housing and Redevelopment Authority: Comprehensive Improvement Assistance Program (CIAP) - Modernization Project Numbers MN 105 -901, MN 105 -902 Findin Communication from the local HUD office in 1987 indicates that the Actual Modernization Cost Certificates (HUD Form 53001) have been filed for these projects but are not yet audited. We have not audited periods prior to 1989 and therefore the scope of our audit did not include amounts reported on these forms. The HRA staff will need to reassemble the documentation necessary to permit a separate audit of these cost certificates.