HomeMy WebLinkAbout1991 CAFRCITY OF COLUMBIA HEIGHTS, MINNESOTA
Comprehensive Annual Financial Report
Year Ended
December 31, 1991
Prepared by:
Finance Department
CITY OF COLUMBIA HEIGHTS, MINNESOTA
tComprehensive Annual Financial Report
tTable of Contents
Exhibit
Page
I. INTRODUCTORY SECTION
Letter of Transmittal
1 - 7
List of Principal Officials
8
Organizational Chart
9
Certificate of Achievement
10
II. FINANCIAL SECTION
INDEPENDENT AUDITOR'S REPORT
11 -12
GENERAL PURPOSE FINANCIAL STATEMENTS
'
(LIFTABLE STATEMENTS)
13
Combined Balance Sheet - All Fund Types and Account Groups
A
14 - 17
Combined Statement of Revenues, Expenditures, and Changes in
Fund Balance - All Governmental Fund Types
B
18 -19
Combined Statement of Revenues, Expenditures, and Changes in
Fund Balance - Budget (GAAP Basis) and Actual - General,
Special Revenue, and Debt Service Funds
C
20-21
Combined Statement of Revenues, Expenses, and Changes in
Retained Earnings - All Proprietary Fund Types
D
Yi 22
Combined Statement of Cash Flows - All Proprietary Fund Types
E
23 -24
Notes to Financial Statements
25-64
COMBINING AND INDIVIDUAL FUND AND
ACCOUNT GROUP STATEMENTS
General Fund
65
Comparative Balance Sheet
F -1
66
Statement of Revenues, Expenditures, and Changes
in Fund Balance - Budget (GAAP Basis) and Actual
F -2
67 -68
I Statement of Revenues - Budget (GAAP Basis) and Actual
F -3
69
Statement of Expenditures - Budget (GAAP Basis) and Actual
F -4
70-71
Special Revenue Funds
72
Combining Balance Sheet
G -1
73 -74
Combining Statement of Revenues, Expenditures,
and Changes in Fund Balance
G -2
75-76
Municipal State Aid Street Fund
'
Statement of Revenues, Expenditures, and Changes
in Fund Balance - Budget (GAAP Basis) and Actual
G -3
77
Cable Television Fund
'
Statement of Revenues, Expenditures, and Changes
in Fund Balance - Budget (GAAP Basis) and Actual
G-4
78
Paratransit Fund
Statement of Revenues, Expenditures, and Changes
in Fund Balance - Budget (GAAP Basis) and Actual
G -5
79
Recreation Contributed Projects
'
Comparative Statement of Revenues, Expenditures,
and Changes in Fund Balance
G -6
80
COLUMBIA HEIGHTS MINNESOTA
CITY OF COLUM ,
Comprehensive Annual Financial Report
,
Table of Contents (continued)
Exhibit
Page
COMBINING AND INDIVIDUAL FUND AND
ACCOUNT GROUP STATEMENTS (CONTINUED)
Debt Service Funds
81
Combining Balance Sheet
H -1
82 - 83
Combining Statement of Revenues, Expenditures,
and Changes in Fund Balance
H -2
84- 85
Special Assessment Refunding Bonds of 1987 Fund
Statement of Revenues, Expenditures, and Changes
in Fund Balance - Budget (GAAP Basis) and Actual
H -3
86
Tax Increment Bonds Fund
Statement of Revenues, Expenditures, and Changes
'
in Fund Balance - Budget (GAAP Basis) and Actual
H -4
87
Tax Increment Bonds of 1984 Fund
Statement of Revenues, Expenditures, and Changes
in Fund Balance - Budget (GAAP Basis) and Actual
H -5
88
Tax Increment Bonds of 1985 Fund
Statement of Revenues, Expenditures, and Changes
in Fund Balance - Budget (GAAP Basis) and Actual
H -6
89
Tax Increment Refunding Bonds of 1987 Fund
Statement of Revenues, Expenditures, and Changes
in Fund Balance - Budget (GAAP Basis) and Actual
H -7
90
Tax Increment Taxable Bonds of 1987 Fund
Statement of Revenues, Expenditures, and Changes
in Fund Balance - Budget (GAAP Basis) and Actual
H -8
91
Tax Increment Capital Appreciation Bonds of 1990 Fund
Statement of Revenues, Expenditures, and Changes
in Fund Balance - Budget (GAAP Basis) and Actual
H -9
92
Capital Project Funds
93
Combining Balance Sheet
I -1
94-95
Combining Statement of Revenues, Expenditures,
and Changes in Fund Balance
I -2
96-97
Enterprise Funds
98
Combining Balance Sheet
J -1
99- 100
Combining Statement of Revenues, Expenses,
and Changes in Retained Earnings
J -2
101 - 102
Combining Statement of Cash Flows
J -3
103 - 106
Water Utility Fund
Balance Sheet
J-4
107
Statement of Revenues, Expenses, and
Changes in Retained Earnings
J -5
108
Statement of Cash Flows
Sewer Utility Fund
J -6
109- 110
Balance Sheet
J -7
111
Statement of Revenues, Expenses, and
Changes in Retained Earnings
J -8
112
Statement of Cash Flows
J -9
113 - 114
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Comprehensive Annual Financial Report
Table of Contents (continued)
Exhibit Page
COMBINING AND INDIVIDUAL FUND AND
ACCOUNT GROUP STATEMENTS (CONTINUED)
Enterprise Funds (continued)
Refuse Utility Fund
Balance Sheet
J -10
115
Statement of Revenues, Expenses, and
Changes in Retained Earnings
J -11
116
Statement of Cash Flows
J -12
117 -119
Liquor Fund
Balance Sheet
J -13
119
Statement of Revenues, Expenses, and
Changes in Retained Earnings
J -14
120
Statement of Cash Flows
J -15
121 - 122
Internal Service Funds
123
Combining Balance Sheet
K -1
124
Combining Statement of Revenues, Expenses,
and Changes in Retained Earnings
K -2
125
Combining Statement of Cash Flows
K -3
126- 127
Central Garage Fund
Balance Sheet
K -4
128
Statement of Revenues, Expenses, and
Changes in Retained Earnings
K -5
129
Statement of Cash Flows
K-6
130- 131
Insurance Fund
Balance Sheet
K -7
132
Statement of Revenues, Expenses, and
Changes in Retained Earnings
K -8
133
Statement of Cash Flows
K -9
134- 135
Agency Funds - Fiduciary Funds
136
Combining Statement of Changes in Assets and
Liabilities - All Agency Funds
L -1
137 - 138
Housing and Redevelopment Authority Funds
Combining Balance Sheet - All Governmental
Fund Types and Account Groups
M -1
139- 140
Combining Statement of Revenues, Expenditures, and
Changes in Fund Balance - All Governmental Fund Types
M -2
141 - 142
ACCOUNT GROUP FINANCIAL SCHEDULES
General Fixed Assets Group of Accounts
143
Comparative Schedule of General Fixed Assets by Source
N -1
144
Schedule of General Fixed Assets - by Function and Activity
N -2
145- 146
Schedule of Changes in General Fixed Assets -
by Function and Activity
N -3
147- 148
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Comprehensive Annual Financial Report
Table of Contents (continued)
ACCOUNT GROUP FINANCIAL SCHEDULES (CONTINUED)
General Long -Term Debt Group of Accounts
Statement of General Long -Term Debt
Schedule of Debt Service Requirements to Maturity
Combining Schedule of Bonds Payable
SUPPLEMENTAL INFORMATION (UNAUDITED)
Schedule of Sources and Uses of Public Funds for Housing and
Redevelopment Authority Tax Increment Financing Districts
Note - Sources of Funds for Housing and Redevelopment
Authority Tax Increment Financing Districts
III. STATISTICAL SECTION (UNAUDITED)
Assessed Value, Tax Capacity, and Estimated
Actual Value of All Taxable Property
Tax Rates
City Tax Levy
Tax Levies and Tax Collections
Special Assessment Collections
General Governmental Revenues By Source
General Governmental Expenditures By Function
Principal City Officials
Miscellaneous Statistical Facts
Principal Taxpayers
Statement of Legal Debt Margin
Computation of Direct and Overlapping Debt -
General Obligation Bonds
Property Value, Construction, and Bank Deposits
P -2
Table
I
II
III
IV
V
VI
VII
VIII
IX
X
XI
XII
XIII
159- 160
161 - 162
163
164
165- 166
167 - 168
169- 170
171 - 172
173
174- 175
176
177
178
179
Exhibit
Page
149
O -1
150
O -2
151
0-3
152- 157
r
P -1
158
P -2
Table
I
II
III
IV
V
VI
VII
VIII
IX
X
XI
XII
XIII
159- 160
161 - 162
163
164
165- 166
167 - 168
169- 170
171 - 172
173
174- 175
176
177
178
179
r
CITY OF COLUMBIA HEIGHTS, MINNESOTA
' Comprehensive Annual Financial Report
Table of Contents (continued)
'1
IV. OTHER REQUIRED REPORTS SECTION
Independent Auditor's Report on Schedule of
Federal Financial Assistance
Schedule of Federal Financial Assistance
Independent Auditor's Report on the Internal Control Structure
' in Accordance With Government Auditing Standards
Independent Auditor's Single Audit Report on the Internal Control
Structure Used in Administering Federal Financial Assistance Programs
Independent Auditor's Compliance Report Based on an Audit
of the General Purpose Financial Statements Performed
in Accordance With Government Auditing Standards
Independent Auditor's Single Audit Report on Compliance
With the General Requirements Applicable to Federal
Financial Assistance Programs
Independent Auditor's Report on Compliance With Specific
rRequirements Applicable to Nonmajor Related Federal
Financial Assistance Program Transactions
Independent Auditor's Report on Compliance With
' Minnesota State Laws and Regulations
Schedule of Findings
r
Page
180
181
182 - 183
184- 186
187
188
189
190
191
CITY OF COLUMBIA HEIGHTS
590 40th Avenue N. E.
Columbia Heights, MN 55421 -3878
(612) 782 -2800
Mayor
Donald J. Murzyn, Jr.
Councilmembers
Sean T. Clerkin
Bruce G. Nawrocki
Gary L. Peterson
Robert W. Ruettimann
City Manager
Stuart W. Anderson
To the Citizens of the City of Columbia Heights,
Mayor, Councilmembers, and City Manager
March 13, 1992
The Comprehensive Annual Financial Report of the City of Columbia Heights for the fiscal year ended
December 31, 1991 is hereby submitted. The responsibility for both the accuracy of the presented 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 is accurate in all material respects and is 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 four sections: Introductory, Financial,
Statistical, and Other Required Reports. The Introductory Section includes this transmittal letter, the
City's organizational chart, and a list of principal officials, and a reproduction of the Certificate of
Achievement for the prior year. The Financial Section includes the general purpose financial statements,
the combining and individual fund and account group 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 and
a Minnesota Legal Compliance Audit. Information related to this single audit and compliance audit,
including the Schedule of Federal Financial Assistance, is included in the Other Required Reports Section.
This report includes all funds and. account groups of the City. The City provides a full range of services
to its citizens. These services include, but are not limited to, 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 addition to general government
activities, the City Council exercises, or has the ability to exercise, oversight of the Housing and
Redevelopment Authority by appointment of Board members; therefore, this activity is included in the
reporting entity. However, Columbia Heights Police and Fire Department Relief Associations,
Independent School District No. 13, 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.
-1-
"SERVICE IS OUR BUSINESS" EQUAL OPPORTUNITY EMPLOYER
ECONOMIC CONDITION AND OUTLOOK
The City of Columbia Heights, 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 the adoption of a home rule City Charter by the qualified voters of the City, a Council - Manager form
of government was instituted. The City covers an area of 3.52 square miles and its population is 18,910
according to 1990 census figures.
During 1991, the City experienced its first year of financial cutbacks. A substantial portion of the City's
General Fund budget is funded by local government aid from the State of Minnesota. During their fiscal
year ending June 30, 1991, the State experienced a large deficit and cut aid to cities. Current information
indicates additional reductions are being planned for 1992, and 1993. The City Council and staff have
reacted positively to the problem and have diligently strived to control expenditures in a manner to have
the least negative impact on the citizens of the community. As a result of this effort, the General Fund
again had a positive cash flow in 1991 in spite of the cut in local government aid.
Redevelopment was again a major undertaking in 1991. During the year, the 45 -unit Parkview Villa
South Addition to the 101 -unit highrise was completed and occupied. This complex provides housing for
seniors and disabled persons.
At year -end a loan had been approved through the Business Revolving Loan Fund, a fund created to make
loans to new or expanding businesses within the City, which is expected to create at least 50 new jobs
in Columbia Heights. The City is also participating in the first -time homebuyer program and has received
an allocation of $1,477,000 from the Minnesota Housing Finance Agency. At year -end, five loans for
a total of $538,589 had been finalized.
Employment in the City is remaining stable and, as mentioned earlier, the City is promoting the
expansion and creation of new business in the community. Denny's has moved into the former Sizzler
Restaurant that had been vacant for more than two years. During the year economic conditions remained
stable. The City continues to maintain a strong financial position and that trend is expected to continue.
MAJOR INITIATIVES
For the Year
During the year, Stuart Anderson was named City Manager to succeed Robert Bocwinski who resigned
in August 1990. Mr. Anderson was previously Chief of Police for the City. Captain Leonard Olson was
named Acting Chief of Police in the interim.
The City's 1990 Comprehensive Annual Financial Report was submitted to the Government Finance
Officers' Association for review under the Certificate of Achievement Program for the first time. In
December, the City was notified that the City had been awarded the Certificate of Achievement for
Excellence in Financial Reporting award.
Operations at the City's municipal liquor store have been converted to a new cash register, computer, and
software system. The new hardware and software will greatly enhance our ability to control many of our
costs and provide valuable historical data which will be used in determining buying policies.
The Police and Fire Departments continue to be very active in community education and outreach
programs. These programs are designed to educate the community in the areas of safety, crime, and fire
-2-
prevention. The Police Department continues to be very active in the D.A.R.E. Program (drug abuse
resistance education) and officers volunteer many hours of their own time toward this program targeted
at fifth grade children.
For the Future
The Police Department plans to further its community outreach programs to more effectively include
businesses within the City.
Maintenance of the City's infrastructure will remain a major concern. The Public Works Department will
be addressing the issues of planning and monitoring to assist in the development of a comprehensive plan
for replacement.
The Housing and Redevelopment Authority will be converting to an in -house computer system in 1992
for maintenance of financial records. This system is compatible with the system that the City has
effectively utilized for the past three years. This computer system will be run on an IBM 36.
A new contractor was selected for City -wide residential refuse, recycling, and yard waste service
beginning January 2, 1992. Service levels remain the same with no increase in rates.
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 is 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.
Single Audit
As a recipient of federal, state, and county financial assistance, the City is also responsible for ensuring
that an adequate internal control structure is in place to ensure compliance with applicable laws and
regulations related to those programs. This internal control structure is subject to periodic evaluation by
management of the City.
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.
-3-
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 Funds are included
in the annual appropriated budget. Budgetary control is maintained by a 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 a fund by the City Manager, or between 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 1991 totaled $9,361,091, which is a decrease of 7.21 % from 1990. Property taxes
received for the City produced 37 % of general revenues compared to 31 % last year. The amount of
revenues from various sources and their change from last year are shown below:
Tax revenue increased due to an increase in the levy to compensate for the loss of a portion of local
government aid. Intergovernmental revenue decreased due to the loss of some local government aid and
the move of community education to the School District. The move of community education also
accounts for the decrease in charges for services.
-4-
Amount of
Increase
Percent
(Decrease)
Revenue Source
Amount
of Total
From 1990
Taxes
$ 3,474,483
37%
$ 322,856
Special assessments
458,544
5
(4,866)
Licenses and permits
164,945
2
17,358
Intergovernmental
3,249,669
35
(630,889)
Charges for services
424,546
4
(236,570)
Fines and forfeitures
116,386
1
(7,119)
Interest
718,025
8
(365,910)
Other revenue
754,493
8
178,084
Total revenues
$ 9,361,091
100%
$ (727,056)
Tax revenue increased due to an increase in the levy to compensate for the loss of a portion of local
government aid. Intergovernmental revenue decreased due to the loss of some local government aid and
the move of community education to the School District. The move of community education also
accounts for the decrease in charges for services.
-4-
The expenditures for City general governmental purposes for 1991 totaled $13,072,882, a decrease of
35.7% from 1990. The total expenditures for major City functions and their change from last year are
shown below:
Amount of
Increase
The major decrease in debt service was due to over $6,995,000 being paid from escrow in 1990 for
refunding of a bond issue. Public Works costs increased due to two major snowfalls in October and
November of 1991. Parks and Recreation decreased due to the move of community education from the
City to the School District.
General Fund Balance
The fund balance of the General Fund increased by 16.7% in 1991. The total fund balance of
$3,033,095 indicates a strong financial position. It should be pointed out, however, that this represents
working capital for general operations, which 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 $4,789,343 in 1991. This resulted in
a total net operating income of $394,719, an increase of 51 % over 1990. Liquor operations are expected
to show growth and profitability in the future.
The Water and Refuse Utilities had operating incomes of $49,790 and $131,441, respectively, for the
year. The Sewer Utility experienced an operating loss of $224,007 in 1991. The small gain experienced
by the Water Utility and the loss experienced by the Sewer Utility can be attributed to increased operating
costs and the fact that rates have not been increased since 1982. Water and sewer rates will be increased
in 1992 to offset increased costs. Refuse rates were increased in 1991 to keep pace with the increased
landfill costs.
During the year, the City Council designated funds from the Sewer and Water Utilities for capital
equipment replacement and construction.
-5-
Percent
(Decrease)
Expenditure Function
Amount
of Total
From 1990
General government
$ 1,285,382
10%
$ (144,245)
Public safety
2,538,215
19
(13,328)
Public works
891,133
7
128,491
Sanitation
108,108
1
(76,519)
Parks and recreation
954,236
7
(560,617)
Library
390,251
3
21,888
Other and contingencies
263,733
2
94,654
Capital outlay
2,691,141
21
1,136,258
Debt service
3,950,683
30
(7,843,717)
Total Expenditures
$ 13,072,882
100%
$ (7,257,135)
The major decrease in debt service was due to over $6,995,000 being paid from escrow in 1990 for
refunding of a bond issue. Public Works costs increased due to two major snowfalls in October and
November of 1991. Parks and Recreation decreased due to the move of community education from the
City to the School District.
General Fund Balance
The fund balance of the General Fund increased by 16.7% in 1991. The total fund balance of
$3,033,095 indicates a strong financial position. It should be pointed out, however, that this represents
working capital for general operations, which 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 $4,789,343 in 1991. This resulted in
a total net operating income of $394,719, an increase of 51 % over 1990. Liquor operations are expected
to show growth and profitability in the future.
The Water and Refuse Utilities had operating incomes of $49,790 and $131,441, respectively, for the
year. The Sewer Utility experienced an operating loss of $224,007 in 1991. The small gain experienced
by the Water Utility and the loss experienced by the Sewer Utility can be attributed to increased operating
costs and the fact that rates have not been increased since 1982. Water and sewer rates will be increased
in 1992 to offset increased costs. Refuse rates were increased in 1991 to keep pace with the increased
landfill costs.
During the year, the City Council designated funds from the Sewer and Water Utilities for capital
equipment replacement and construction.
-5-
Internal Service Funds
The City maintains two Internal Service Funds -- the Central Garage Fund and the Insurance Fund. 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. In 1991, the Central Garage Fund had a small net
loss.
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. Dermit surcharize, and escrow.
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
for the year was 7.22 %.
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.
Debt Administration
At December 31, 1991, the City had a number of debt issues outstanding. These issues included
$19,154,721 of General Obligation Tax Increment Bonds and $1,185,000 of Permanent Improvement
Special Assessment Debt with City commitment. The City issued $6,670,000 General Obligation Tax
Increment Refunding Bonds of 1991. These bonds were issued to refund the Tax Increment Refunding
Bonds of 1987. Bond proceeds were placed in an escrow account until the call date, March 1, 1994.
General Obligation Tax Increment Bonds of 1985 were called in 1991 in the amount of $1,800,000 and
were be paid from escrowed funds.
Risk Management
The City maintains commercial insurance coverage for liability, property, liquor liability, and workers'
compensation. As previously stated, the City maintains an Internal Service Fund for insurance. The
Insurance Fund maintains a reserved balance to provide funds if needed for excess claims or deductibles.
This fund charges individual departments for allocation of premiums and for claims incurred. During
1991, the City settled a bodily injury claim for an injury sustained at a liquor store that has since closed
for $110,000. There were no significant claims pending at year -end.
M
OTHER INFORMATION
Independent Audit
State Statutes require an annual audit by independent certified public accountants. The accounting firm
of Malloy, Karnowski, Radosevich & Co., P.A. was selected by the City. In addition to meeting the
requirements set forth in State Statutes, the audit was also 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 and account group statements and
schedules is included in the Financial Section of this report.
Awards
The Government Finance Officers' Association (GFOA) awarded a Certificate of Achievement for
Excellence in Financial Reporting to the City for its Comprehensive Annual Financial Report for the year
ended December 31, 1990. This was the first report submitted by the City for consideration for this
prestigious award. In order to be awarded a Certificate of Achievement, the City published an easily
readable report that satisfied both generally accepted accounting principles and applicable legal
requirements. A Certificate of Achievement is valid for one year only. We believe that our current
Comprehensive Annual Financial Report continues to meet the Certificate of Achievement Program's
requirements and we are submitting it to the GFOA to determine its eligibility for another certificate.
Acknowledgements
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,
'1 "
�
D, yyLL' /Vr,
William J. Elrite
Finance Director
C/. lea -'tom
l�
June V. Johnston
Assistant Finance Director
-7-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
List of Principal Officials
Year Ended December 31, 1991
CITY COUNCIL
Edward M. Carlson, Mayor
Donald J. Murzyn, Jr., Mayor -Elect
Gary L. Peterson
Councilmember
Bruce G. Nawrocki
Councilmember
Sean T. Clerkin
Councilmember
Robert W. Ruettimann
Councilmember
CITY MANAGER
Stuart Anderson
FINANCE DEPARTMENT
William J. Elrite, Finance Director
June V. Johnston, Assistant Finance Director
CITY OF COLUMBIA HEIGHTS
ORGANIZATIONAL CHART
vd M. Carlson Gary L. Peterson
Bruce G. Nawrocki
oil Secretary *: Sean T. Clerkin
ne Student Robert W. Ruettim:
a�a>_
City Manager:
Stuart W. Anderson
Asst to
Ci Ma
POLICE (ADMINISTERED BY MAYOR)
Acting Police Chief:
Leonard Olson
Secretary 11
Clerk- Typist II
Police Captain
' Patrol Sergeants (4)
Patrol Officers(15)
Comm. Service Officers
(2 FT & 2 PT)
Sr. Recorts Technician
' Secretary II -A (2)
Clerk- Typist II (PT)
Fire Chief:
Charles Kewatt
Secretary II (PT)
Deputy Fire Chief
Firefighters (6)
Volunteer Firefighters (25)
LIBRARY
Library Director:
M. Rebecca Loader
Clerk- Typist II (2)
Library Supervisor (5 PT)
Page (8 PT)
Choreperson (PT)
Adult Service Specialist
Children's Librarian
Recreation Director:
Mark Casey
Clerk- Typist II (2)
Senior Citizen Coordinator
Head Custodian
Custodian II (2 PT)
Custodian 1(2 PT)
Also serves in the capacity of Deputy City Clerk under the
Finance Director /City Clerk/Treasurer
Accounting Clerk II
Clerk - Typist 11 (PT)
Building Inspector
Asst Building Inspector
Secretary II
Charter
HRA
Police, Fire & Civil
Service
Downtown Development
Insurance
Traffic
Cable Communications
Planning & Zoning
Human Services
Park
Merit
Library
Science Technology &
Finance Director/City Clerk/Treasurer:
William Elrite
Secretary 11 (PT)
Assistant Finance Director
Accounting Coordinator
Payroll/Accounting Clerk
Utilities Accounting Clerk II
Liquor Acct Clerk II (2 PT)
Utilities Accounting Clerk I
Switchboard Operator /Receptionist
Meter Readers (2 PT)
Liquor Operations Manager
Asst Operations Managers (2)
Retail Clerks (17 PT)
Liquor Store Supervisor
Public Works Director/City Engineer:
Fred Salsbury
Secretary II -A
Clerk- Typist II
Assistant City Engineer
Engineering Technician IV
Engineering Technician 111
Engineering Technician II
Public Works Superintendent
Foreman (3)
Maintenance 111 (1)
Maintenance II (6)
Maintenance 1(9)
Foreman - Vehicle Maintenance
Maintenance III - Mechanic
Maintenance III- Bodymen/Pointer
Admin. Assistant - Public Works
Clerical /Purchasing Clerk
In
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of Columbia
Heights, Minnesota
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
December 31, 1990
A Certificate of Achievement for Excellence in Financial
Reporting is presented by the Government Finance Officers
Association of the United States and Canada to
government units and public employee retirement
systems whose comprehensive annual financial
reports (CAFR's) achieve the highest
standards in government accounting
and financial reporting.
President
Lrmt
epo;e Executive Director
-10-
MALLOY
KARNOWSKI
RADOSEVICH
&CO.,P.A.
INDEPENDENT AUDITOR'S REPORT
City Council and Residents
City of Columbia Heights
Columbia Heights, Minnesota
PRINCIPALS
KENNETH W. MALLOY, CPA
THOMAS A. KARNOWSKI, CPA
PAUL A. RADOSEVICH, CPA
We have audited the general purpose financial statements of the City of Columbia Heights, Minnesota,
as of and for the year ended December 31, 1991, 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 statements. 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, 1991, and
the results of its operations, changes in fund balance, and cash flows of the Proprietary Fund Types 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 the Financial Reporting Entity for 1991.
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 and account groups statements and financial
schedules 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.
-11-
410 PARK NATIONAL BANK BUILDING
5353 WAYZATA BOULEVARD
MINNEAPOLIS, MINNESOTA 55416
TELEPHONE: 612- 545 -0424
TELEFAX: 612- 545 -0569
(continued)
' The supplemental information and statistical information listed in the table of contents is not necessary
for a fair presentation of the general purpose financial statements, but is presented as additional analytical
' data. This information is unaudited and we do not express an opinion on it.
IMarch 13, 1992
-12-
GENERAL PURPOSE FINANCIAL 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 financial statements will be a benefit to users requiring less detailed
information about our City's finances.
-13-
CITY OF COLUMBIA HEIGHTS, MINNESOTA '
Combined Balance Sheet
All Fund Types and Account Groups
As of December 31, 1991 '
(with Primary Government Comparative Totals as of December 31, 1990)
Proprietary
Governmental Fund Types Fund Types
Special Debt Capital Internal
General Revenue Service Project Enterprise Service ,
Assets and Other Debits
Assets
Cash and investments
Cash and cash equivalents
S 2,941,048
$ 231,539
$ -
$ -
$ 367,155
$ 100,267
Temporary investments
95,514
-
3,068,742
3,631,273
3,043,861
331,191
Total cash and investments
3,036,562
231,539
3,068,742
3,631,273
3,411,016
431,458
Cash and investments held in escrow
-
-
6,543,268
-
-
-
Receivables
Accounts
9,177
36,310
-
4,308
681,357
3,503
Special assessments
591,889
-
89,703
554,326
-
-
Taxes
141,263
-
355,719
-
-
-
Interest
13,024
1,785
16,960
32,797
25,071
3,266
Loans
-
-
-
-
-
-
Due from other governmental units
83,964
57,758
-
147,438
222,312
-
Due from other funds
-
42,907
-
199,186
-
-
Due from primary government
-
-
-
-
-
-
Due from component units
11,665
-
-
-
-
-
Prepaid expense
59
-
-
-
56,821
64,925
Assets held by deferred compensation trustees
-
-
-
-
-
-
Inventory, at cost
-
-
-
-
487,980
80,520
Fixed assets, net of accumulated depreciation
-
-
-
-
3,611,248
350,148
Other assets
-
-
-
-
-
-
Other debits
Amount available in Debt Service Funds
-
-
-
-
-
-
Amount to be provided for retire-
ment of general long-term debt
-
-
-
-
-
-
Amount to be provided for
compensated absences
-
-
-
-
-
-
Amount to be provided for notes payable
-
-
-
-
-
-
Total assets and other debits
$ 3,887,603
$ 370,299
S 10,074,392
S 4,569,328
S 8,495,805
$ 933,820
See notes to financial statements
-14-
Exhibit A
$ 10,880 $ -
$ -
$ 3,650,889
Totals
$ 727,652
$ 4,378,541
- -
(Memorandum
10,170,581
12,520,502
Totals
Only)
Fiduciary
-
(Memorandum Only) Component
Reporting
Fund Type
Account Groups
Primary Government Unit
Entity
6,543,268
1,800,000
Housing and
6,543,268
222 -
General General
RedeveH
689,882
278
Fixed Long -Term
opment
-
Agency
Assets Debt
1991 1990 Authority
1991
$ 10,880 $ -
$ -
$ 3,650,889
$ 2,567,961
$ 727,652
$ 4,378,541
- -
-
10,170,581
12,520,502
-
10,170,581
10,880 -
-
13,821,470
15,088,463
727,652
14,549,122
- -
-
6,543,268
1,800,000
-
6,543,268
222 -
-
734,877
689,882
278
735,155
- -
-
1,235,918
1,320,491
-
1,235,918
- -
-
496,982
321,603
3,527
500,509
- -
-
92,903
331,501
469
93,372
- -
-
-
-
399,404
399,404
- -
-
511,472
631,039
200,951
712,423
- -
-
242,093
289,150
32,173
274,266
- -
-
-
-
6,303
6,303
- -
-
11,665
9,407
-
11,665
- -
-
121,805
123,490
5,807
127,612
940,934 -
-
940,934
719,952
154,615
1,095,549
- -
-
568,500
523,380
-
568,500
- 12,355,567
-
16,316,963
16,037,633
5,032,349
21,349,312
- -
-
-
-
98,413
98,413
- -
9,603,694
9,603,694
5,175,702
-
9,603,694
- -
10,811,471
10,811,471
11,289,019
-
10,811,471
- -
329,244
329,244
295,051
9,874
339,118
- -
16,609
16,609
17,177
-
16,609
$ 952,036 $ 12,355,567
S 20,761,018
$ 62,399,868
$ 54,662,940
$ 6,671,815
$ 69,071,683
(continued)
-15-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Combined Balance Sheet (continued)
All Fund Types and Account Groups
As of December 31, 1991
(with Primary Government Comparative Totals as of December 31, 1990)
Liabilities, Equity, and Other Credits
Liabilities
Accounts payable
Contracts payable, retained percentage
Notes payable
Accrued salaries and withholdings payable
Deferred compensation payable
Due to other governmental units
Due to other funds
Due to primary government
Due to component units
Deferred revenue
Bonds payable
Accrued interest payable
Deposits
Insurance and taxes in escrow
Compensated absences payable
Other liabilities
Total liabilities
Equity and other credits
Contributed capital
Investment in general fixed assets
Retained earnings
Reserved
Unreserved
Fund balance
Reserved
Unreserved
Designated
Undesignated
Total equity and other credits
Total liabilities, equity,
and other credits
See notes to financial statements
Proprietary
Governmental Fund Types Fund Types
Special Debt Capital Internal
General Revenue Service Project Enterprise Service
$ 77 „596
$ 54,270 $
168
-
70,240
139
2,259
-
-
42,907
3,885
-
700,360
-
97,316
854,508
$ 20,156 S 271,753 $ 17,232
15,349 - -
- 486 57,376 22,029
- - 49,576 -
199,186 - -
2,418 - -
412,755 554,326 - -
57,943 - - -
470,698 791,921 378,705 39,261
1,629,109 188,849
- - - 3,049,702 479,712
- - - - 3,438,289 225,998
95,366 - - - - -
2,937,729 3,342 9,603,694 528,739 - -
- 269,641 - 3,248,668 - -
3,033,095 272,983 9,603,694 3,777,407 8,117,100 894,559
$ 3,887,603 $ 370,299 $ 10,074,392 $ 4,569,328 $ 8,495,805 S 933,820
-16-
Exhibit A
$ _
$ _ $ -
$ 441,007
Totals
$ 217,100
$ 658,107
-
(Memorandum
15,517
29,595
Totals
Only)
Fiduciary
- 16,609
(Memorandum Only) Component
Reporting
Fund Type
Account Groups
Primary Government Unit
Entity
150,270
126,459
Housing and
157,495
940,934
General General
Redevel-
719,952
154,615
Fixed Long -Term
opment
_ -
Agency
Assets Debt
1991 1990 Authority
1991
$ _
$ _ $ -
$ 441,007
S 342,813
$ 217,100
$ 658,107
-
- -
15,517
29,595
-
15,517
-
- 16,609
16,609
17,177
-
16,609
-
- -
150,270
126,459
7,225
157,495
940,934
- -
940,934
719,952
154,615
1,095,549
_
_ -
51,835
171,772
34,069
85,904
-
- -
242,093
289,150
32,173
274,266
-
-
11,665
11,665
-
- -
6,303
235,695
-
6,303
-
- -
1,667,441
1,640,014
409,979
2,077,420
-
- 20,415,165
20,415,165
16,464,721
-
20,415,165
_
- -
57,943
57,943
-
57,943
6,632
- -
6,632
6,332
9,105
15,737
_
_ -
-
-
7,121
7,121
-
- 329,244
329,244
295,051
9,874
339,118
4,470
- -
4,470
12,996
-
4,470
952,036
- 20,761,018
24,345,463
20,409,670
892,926
25,238,389
-
- -
1,817,958
1,883,187
-
1,817,958
-
12,355,567 -
12,355,567
12,047,697
5,032,349
17,387,916
-
- -
3,529,414
3,471,632
-
3,529,414
-
- -
3,664,287
3,460,625
-
3,664,287
-
- -
95,366
-
278,957
374,323
-
- -
13,073,504
10,219,035
-
13,073,504
-
- -
3,518,309
3,171,094
467,583
3,985,892
-
12,355,567 -
38,054,405
34,253,270
5,778,889
43,833,294
S 952,036
$ 12,355,567 S 20,761,018
$ 62,399,868
S 54,662,940
$ 6,671,815
$ 69,071,683
-17-
CTTY OF COLUMBIA HEIGHTS, MINNESOTA
Combined Statement of Revenues, Expenditures, and Changes in Fund Balance
All Governmental Fund Types
Year Ended December 31, 1991
(with Primary Government Comparative Totals for Year Ended December 31, 1990)
Revenues
Taxes
Special assessments
Licenses and permits
Intergovernmental
Charges for services
Fines and forfeitures
Interest
Other revenues
Total revenues
Expenditures
Current
General government
Public safety
Public works
Sanitation
Parks and recreation
Library
Other
Contingencies
Capital outlay
Debt service
Total expenditures
Excess (deficiency) of revenues over expenditures
Other financing sources (uses)
Bond proceeds
Forgiveness of debt
Operating transfers in
Operating transfers (out)
Total other financing sources (uses)
Excess (deficiency) of revenues and
other financing sources over expen-
ditures and other financing uses
Fund balance
Beginning of year
Residual equity transfers
End of year
See notes to financial statements
1,285,382
Special
Debt
Capital
General
Revenue
Service
Project
$ 2,225,803
$ -
$ 1,248,680
$ -
-
-
277,171
181,373
164,945
-
-
-
3,040,675
208,994
-
-
340,184
84,362
-
-
116,386
-
-
-
127,887
17,536
250,563
322,039
143,024
91,315
4,276
515,878
6,158,904
402,207
1,780,690
1,019,290
1,285,382
-
- -
2,538,215
-
- -
891,133
-
- -
108,108
-
- -
954,236
-
- -
390,251
-
- -
-
187,915
72,015 -
3,803
-
- -
-
88,777
- 2,602,364
-
-
3,950,683 -
6,171,128
276,692
4,022,698 2,602,364
(12,224)
125,515
(2,242,008) (1,583,074)
6,670,000 -
570,988 41,980 3,381,804 200,788
(124,300) 20( 1,703) (3,381,804) (148,912)
446,688 15( 9,723) 6,670,000 51,876
434,464 (34,208) 4,427,992 (1,531,198)
2,598,631 307,191 5,175,702 5,308,605
$ 3,033,095 $ 272,983 $ 9,603,694 $ 3,777,407
-18-
Exhibit B
1,285,382
1,429,627
-
Totals
2,538,215
2,551,543
-
(Memorandum
Totals
762,642
-
Only)
(Memorandum Only)
Component
Reporting
Primary Government
Unit
Entity
-
954,236
Housing and
368,363
-
390,251
Redevel-
166,007
507,614
767,544
opm ent
3,072
1991
1990
Authority
1991
$ 3,474,483 $
3,151,627
$ 57,707
$ 3,532,190
458,544
463,410
-
458,544
164,945
147,587
-
164,945
3,249,669
3,880,558
531,737
3,781,406
424,546
661,116
-
424,546
116,386
123,505
-
116,386
718,02.5
1,083,935
57,318
775,343
754,493
576,409
2,077,388
2,831,881
9,361,091
10,088,147
2,724,150
12,085,241
1,285,382
1,429,627
-
1,285,382
2,538,215
2,551,543
-
2,538,215
891,133
762,642
-
891,133
108,108
184,627
-
108,108
954,236
1,514,853
-
954,236
390,251
368,363
-
390,251
259,930
166,007
507,614
767,544
3,803
3,072
-
3,803
2,691,141
1,554,883
2,084,671
4,775,812
3,950,683
11,794,400
125,905
4,076,588
13,072,882
20,330,017
2,718,190
15,791,072
(3,711,791)
(10,241,870)
5,960
(3,705,831)
6,670,000
4,763,724
-
6,670,000
-
-
183,617
183,617
4,195,560
14,054,464
-
4,195,560
(3,856,719)
(13,222,269)
-
(3,856,719)
7,008,841
5,595,919
183,617
7,192,458
3,297,050
(4,645,951)
189,577
3,486,627
13,390,129
18,072,520
556,963
13,947,092
-
(36,440)
-
-
$ 16,687,179
$ 13,390,129
$ 746,540
$ 17,433,719
-19-
CITY OF COLUMBIA HE[GHTS, MINNESOTA
Combined Statement of Revenues, Expenditures, and Changes in Fund Balance
Budget (GAAP Basis) and Actual
General, Special Revenue, and Debt Service Funds
Year Ended December 31, 1991
General Fund
Variance
Favorable
Budget Actual (Unfavorable)
Revenues
Taxes
$ 2,233,207
$ 2,225,803
$ (7,404)
Special assessments
-
-
-
Licenses and permits
144,110
164,945
20,835
Intergovernmental
3,017,328
3,040,675
23,347
Charges for services
399,120
340,184
(58,936)
Fines and forfeitures
129,200
116,386
(12,814)
Interest
158,000
127,887
(30,113)
Other revenues
24,300
143,024
118,724
Total revenues
6,105,265
6,158,904
53,639
Expenditures
Current
General government
1,297,515
1,285,382
12,133
Public safety
2,700,080
2,538,215
161,865
Public works
884,387
891,133
(6,746)
Sanitation
141,376
108,108
33,268
Parks and recreation
1,131,142
954,236
176,906
Library
410,923
390,251
20,672
Other
-
-
-
Contingencies
5,000
3,803
1,197
Capital outlay
-
-
-
Debt service
-
-
-
Total expenditures
6,570,423
6,171,128
399,295
Excess (deficiency) of
revenues over expenditures
(465,158)
(12,224)
452,934
Other financing sources (uses)
Operating transfers in
522,841
570,988
48,147
Operating transfers (out)
(85,000)
124,300
3( 9,300)
Total other financing sources (uses)
437,841
446,688
8,847
Excess (deficiency) of revenues and
other financing sources over expen-
ditures and other financing uses
(27,317)
434,464
461,781
Fund balance
Beginning of year
2,598,631
2,598,631
-
End of year
$ 2,571,314
$ 3,033,095
$ 461,781
See notes to financial statements
-20-
Exhibit C
Special
Revenue Funds_
17,760
Debt Service Fund
72,015
(12,015)
510,400
Variance
432,643
-
Variance
-
-
Favorable
-
3,811,047
Favorable
Budget
Actual
(Unfavorable)
_ Budget
Actual
(Unfavorable)
$ -
$ -
$ -
$ 1,060,000
$ 1,248,680
$ 188,680
-
-
-
95,366
277,171
181,805
614,000
208,994
(405,006)
-
-
-
75,500
84,362
8,862
-
-
-
8,500
17,536
9,036
162,433
228,976
66,543
-
26,758
26,758
-
4,276
4,276
698,000
337,650
(360,350)
1,317,799
1,759,103
441,304
174,381
156,621
17,760
60,000
72,015
(12,015)
510,400
77,757
432,643
-
-
-
-
-
-
3,811,047
3,802,364
8,683
684,781
234,378
450,403
3,871,047
3,874,379
(3,332)
13,219
103,272
90,053
(2,553,248)
(2,115,276)
437,972
5,000
40,480
35,480
3,748,614
3,381,804
(366,810)
99,11.
2( 01,703)
102,E
(3,389,367)
(3,381,804)
7,563
(94,115)
161,223
(67,108)
359,247
-
359,247
(80,896) (57,951) 22,945
(2,194,001) (2,115,276) 78,725
283,207
283,207
- 5,175,702
5,175,702 -
$ 202,311
$ 225,256
$ 22,945 $ 2,981,701
$ 3,060,426 $ 78,725
-21-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Combined Statement of Revenues, Expenses, and Changes in Retained Earnings
All Proprietary Fund Types
Year Ended December 31, 1991
(with Comparative Totals for Year Ended December 31, 1990)
Operating revenues
Charges for services
Charges for sales
Intergovernmental
Total operating revenues
Operating expenses
Costs of sales, services, and goods sold
Operating expense
Depreciation
Total operating expenses
Operating income (loss)
Nonoperating revenues (expense)
Interest income
Miscellaneous revenue
Miscellaneous expense
Total nonoperating
revenues (expense)
Income (loss) before
operating transfers
Operating transfers in
Operating transfers (out)
Total operating transfers
Net income (loss)
Credit for depreciation on contributed assets
Retained earnings
Enterprise
Internal
Service
$ 2,327,480
$ 283,411
5,567,291
60,231
50,458
-
7,945,229
343,642
4,938,566
286,688
2,411,939
159,903
242,781
29,702
7,593,286
476,293
351,943 (132,651)
Exhibit D
Totals
(Memorandum Only)
1991 1990
$ 2,610,891 $ 2,383,518
5,627,522 5,012,024
50,458 103,465
8,288,871 7,499,007
5,225,254
5,185,753
2,571,842
1,801,047
272,483
211,204
8,069,579
7,198,004
219,292 301,003
253,419
32,067
285,486
360,448
9,480
22,616
32,096
123,391
1,818
-
(1,818)
(2,655)
261,081
54,683
315,764
481,184
613,024
(77,968)
535,056
782,187
217,278
42,800
260,078
3,100,000
587,420
11,499
(598,919)
(4,278,860)
370,142
31,301
(338,841)
(1,178,860)
242,882
(46,667)
196,215
(396,673)
65,229
-
65,229
65,229
Beginning of year, as previously stated 6,179,880 752,377 6,932,257 7,046,054
Adjustment for improvements - - - 181,207
Beginning of year, as restated 6,179,880 752,377 6,932,257 7,227,261
Residual equity transfers - - - 36,440
End of year $ 6,487,991 $ 705,710 $ 7,193,701 $ 6,932,257
See notes to financial statements
-22-
Exhibit E
' CITY OF COLUMBIA HEIGHTS, MINNESOTA
Combined Statement of Cash Flows
All Proprietary
Fund Types
'
Year Ended December 31, 1991
(with Comparative Totals
for Year Ended December 31,
1990)
'
Totals
Internal
(Memorandum
Only)
'
Enterprise
Service
1991
1990
Cash flows from operating activities
Cash received from customers
$ 7,966,363
$ 343,014
$ 8,309,377
$ 7,429,358
Cash paid to suppliers for goods and services
(6,730,510)
(333,223)
(7,063,733)
(6,287,834)
Cash payments to employees for services
(617,437)
(113,736)
(731,173)
(676,808)
Miscellaneous revenue
9,480
22,616
32,096
123,391
Miscellaneous expense
(1,818)
-
(1,818)
(2,655)
Net cash provided (used)
by operating activities
626,078
(81,329)
544,749
585,452
' Cash flows from noncapital financing activities
Residual equity transfers in
-
-
-
36,440
Operating transfers in from other funds
-
42,800
42,800
125,000
Operating transfers (out) to other funds
_ (370,142 )
(11,499
(381,641)
(1,303,860)
Net cash provided (used) by
noncapital financing activities
(370,142)
31,301
(338,841)
(1,142,420)
' Cash flows from capital and related
financing activities
Acquisition of fixed assets
(238,938)
(5,005)
(243,943)
(578,778)
Disposition of fixed assets
1
5,240
Capital contribution
-
-
-
94,196
Net cash used by capital and
related financing activities
(238,938)
(5,005)
(243,943)
(479,342)
Cash flows from investing activities
Net change in investments
(143,861)
(11,191)
(155,052)
700,000
Interest earned on investments
337,880
38,258
376,138
361,440
Net cash provided by
investing activities
194,019
27,067
221,086
1,061,440
Net increase (decrease) in
cash and cash equivalents
211,017
(27,966)
183,051
25,130
Cash and cash equivalents
Beginning of year
156,138
128,233
284,371
259,241
End of Y ear
$ 367,155
$ 100,267
$ 467,422
$ 284,371
(continued)
See notes to financial statements
'
-23-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Combined Statement of Cash Flows (continued)
All Proprietary Fund Types
Year Ended December 31, 1991
(with Comparative Totals for Year Ended December 31, 1990)
Enterprise
Reconciliation of operating income (loss) to net
32,096
cash provided (used) by operating activities
—
Operating income (loss) $
351,943
Adjustments to reconcile operating
272,483
income (loss) to net cash provided
(628)
(used) by operating activities
(42,410)
Miscellaneous revenue
9,480
Miscellaneous expense
(1,818)
Depreciation expense
242,781
Changes in assets and liabilities
582
Accounts receivable
(29,181)
Due from other governmental units
51,107
Inventory, at cost
(44,769)
Prepaid expenses
(5,179)
Accounts payable
49,847
Accrued salaries and
325,457
withholdings payable
5,120
Due to other governmental units _
(3,253)
Total adjustments
274,135
Net cash provided (used)
Exhibit E
Totals
Internal (Memorandum Only)
$ (132,651) $ 219,292 $ 301,003
22,616
32,096
123,391
—
(1,818)
(2,655)
29,702
272,483
211,204
(628)
(29,809)
(42,410)
—
51,107
(29,302)
(351)
(45,120)
(25,404)
5,761
582
(14,001)
(10,445)
39,402
40,996
4,667
9,787
5,248
—
(3,253)
17,382
51,322
325,457
284,449
by operating activities $ 626,078 $ (81,329) $ 544,749 $ 58 45452
See notes to financial statements
-24-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
iNotes to Financial Statements
December 31, 1991
NOTE 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 councilmembers. 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.
1 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 as a component unit
as follows:
Included Entity Reason for Inclusion
Housing and Redevelopment The Mayor appoints the governing authority and
' Authority (HRA) the City exercises financial oversight.
Excluded Entity Reason for Exclusion
Watershed Districts
Rice Creek The Watershed Districts are governed by their
own elected authorities and are supported
Six Cities through their own tax levy authority granted by
the Minnesota Statutes.
Independent School School districts are totally independent of all
District No. 13 other governing jurisdictions according to
Minnesota Statutes. They are governed by their
own elected authorities and are supported
through their own tax levy authority.
-25-
CITY OF COLUMBIA HEIGHTS, MINNESOTA ,
Notes to Financial Statements (continued)
December 31, 1991
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
Excluded Entity Reason for Exclusion '
Police and Fire Department The Associations are funded in accordance with
Relief Associations Minnesota Statutes, whereby State aids flow to
the Associations; tax levies are determined by
the Associations and are only reviewed by the
City. The 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.
The financial position and results of operations of the Housing and Redevelopment Authority (HRA)
Component Unit are presented using the discrete method by including a separate column in the general
purpose financial statements. The HRA is reported as a separate column to emphasize that it is legally
separate from the City. This component unit includes Governmental and Agency Funds and Account
Groups using the modified accrual basis of accounting. Separate financial statements for the Housing and
Redevelopment Authority may be obtained by contacting the City of Columbia Heights, Minnesota.
The City has various citizen commissions and boards which act on a voluntary basis as advisors to the
City Council on specific matters. The costs of these commissions and boards are limited to the
administrative support which is funded by the City and included in this financial report.
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 purpose 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.
-26- 1
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Notes to Financial Statements (continued)
December 31, 1991
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
1) Governmental Fund Types
a) 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.
1 b) 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.
c) 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.
d) Capital Project Funds - Capital Project 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.
2) Proprietary Fund Types
a) 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.
b) 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.
3) Fiduciary Fund Type
a) 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.
4) Account Groups
a) General Fixed Assets Account Group - This account group is used to account for all of the
fixed assets of the Governmental Fund Types.
b) 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.
1 -27-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Notes to Financial Statements (continued)
December 31, 1991
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
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.
Generally, only current assets and current liabilities are included in these funds. Governmental Funds
use the "financial flow" measurement focus. Consequently, their revenues are recognized when they
become measurable and available as net current assets. 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 interest earned on
investments.
Expenditures are recognized under the modified accrual basis of accounting 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 Manager submits to the City Council a proposed operating budget for the fiscal year
commencing on January 1 of the following year. At least one special Council meeting is conducted to
obtain public comments as required by the State Truth in Taxation Law.
The City Council annually adopts budgets prior to January I for the General, certain Special Revenue,
and certain Debt Service Funds. The budgets are prepared by fund, function, and activity. The budgets
are adopted on a basis 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. Total expenditures
appropriated in the budget resolution may not legally exceed the estimated revenues available from
various sources; therefore, the legal level of budgetary control is at the fund level.
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.
The City does not use encumbrance accounting.
-28-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
' Notes to Financial Statements (continued)
December 31, 1991
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
Amounts shown in the financial statements represent the original budgeted amounts and the following
increases (decreases) in appropriations:
General Fund $ (198,903)
' Special Revenue Funds
Municipal State Aid
State Aid Maintenance 75,632
1 State Aid Construction 284,803
Cable Television 2,090
Paratransit 43,633
Debt Service Funds (149,512)
0. S7 7,11
The City did not budget for all Special Revenue Funds or Debt Service Funds and, accordingly, the
applicable columns of the Combined Statement of Revenue, Expenditures, and Changes in Fund Balance -
Budget and Actual excludes amounts relating to the unbudgeted funds. A reconciliation of actual results
for budgeted and unbudgeted Special Revenue Funds and Debt Service Funds follows:
Debt Service Funds
Budgeted funds
Unbudgeted fund
Tax Increment
Refunding Bonds
of 1991
Total Debt
Service Funds
$ 5,175,702 $ 1,759,103 $ 3,874,379 $ - $
21,587 148,319 6,670,000
- $ 3,060,426
6,543,268
$ 5,175,702 $ 1,780,690 $ 4,022,698 $ 6,670,000 $ - $ 9,603,694
-29-
Total
Other
Fund Balance
Financing
Residual
Fund Balance
December 31,
Total
Total
Sources
Equity
December 31,
Fund
1990
Revenues
Expenditures
(Uses)
Transfers
1991
Special Revenue Funds
Budgeted funds
$ 283,207
$ 337,650
$ 234,378
$ (161,223)
$
$ 225,256
Unbudgeted funds
D.A.R.E. Program
-
2,552
2,329
1,500
1,723
Recreation
Contributed
Projects
23,984
60,605
39,985
-
(2,513)
42,091
Contributed Projects
-
1,400
-
-
2,513
3,913
Total Special
Revenue Funds
$ 307,191
$ 402,207
$ 276,692
$ (159,723)
$
$ 272,983
Debt Service Funds
Budgeted funds
Unbudgeted fund
Tax Increment
Refunding Bonds
of 1991
Total Debt
Service Funds
$ 5,175,702 $ 1,759,103 $ 3,874,379 $ - $
21,587 148,319 6,670,000
- $ 3,060,426
6,543,268
$ 5,175,702 $ 1,780,690 $ 4,022,698 $ 6,670,000 $ - $ 9,603,694
-29-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Notes to Financial Statements (continued)
December 31, 1991
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
E. Assets, Liabilities, and Fund Equity Accounts
1) Assets
a) 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 balance 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.
b) 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 deferred until the year it becomes available (collected within 60 days of year-
end).
c) Inventories - Inventories are valued at cost, which approximates market, using the first -in,
first -out basis.
d) Fixed Assets
1) 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.
2) Proprietary Fund Types - Fixed assets of the Proprietary Funds are stated at historical
cost, estimated historical cost, or in the case of contributions, at fair market value at the
time received. Depreciation has been provided using the straight -line method over the
estimated useful lives of assets as follows:
Buildings 40 -50 years
Machinery and equipment 3 -20 years
Improvements 5 -20 years
Distribution system 50 -100 years
Depreciation on contributed assets charged to operations is closed to the contributed
equity account.
-30-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Notes to Financial Statements (continued)
December 31, 1991
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (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.
Amounts taken as terminal leave each year are not material and therefore the total is carried as
long -term debt. 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
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 expenditures.
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
a) Property Taxes - Property tax levies are set by the City Council and 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.
-31-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Notes to Financial Statements (continued)
December 31, 1991
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (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 intergovern-
mental 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.
The City's property tax levies are subject to certain maximum levels set by the State of
Minnesota under statutory formulas. The City has not exceeded such levy limits.
b) Intergovernmental Revenues -Intergovernmental revenues are reported using the guidelines
of legal and contractual requirements of the individual programs.
c) Other Revenues - Other revenues, such as licenses and permits, fees for services, fines and
forfeits, and miscellaneous revenue, 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 does not present financial
position or results of operations in conformity with generally accepted accounting principles nor is such
data comparable to a consolidation. Interfund eliminations have not been made in the aggregation of
these data.
-32-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Notes to Financial Statements (continued)
December 31, 1991
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
' H. Comparative Data
Comparative total data for the prior year has been presented in the accompanying financial statements
to provide an understanding of changes in the City's financial position and operations. Comparative data
for each fund type has 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
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. A portion of the Proprietary Funds' equity in
the City -wide cash and investment management pool is considered to be cash equivalents.
J. Presentation of Component Unit
In June 1991, the Governmental Accounting Standards Board (GASB) adopted a new pronouncement
(GASB Statement No. 14) establishing new standards for defining and reporting on the financial reporting
entity. The statement is effective for financial statements for periods beginning after December 15, 1992.
' However, the City has elected earlier application of the pronouncement, as encouraged by GASB.
As a result of this new pronouncement, the 1991 financial data of the City's Housing and Redevelopment
Authority (HRA) has been included in the combined financial statements as a separate column, rather than
being "blended" in with the financial data of the City as in previous years. This change necessitated the
restatement of some prior year comparative information to make it conform to the new presentation
' format.
' NOTE 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 "Total 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 110% of the deposits not covered by insurance or bonds
(140% in the case of mortgage- backed collateral).
-33-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Notes to Financial Statements (continued)
December 31, 1991
NOTE 2 - CASH AND INVESTMENTS (CONTINUED)
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.
Deposits at December 31, 1991, including checking accounts, savings accounts, and certificates of
deposit, are as follows:
City HRA Total
Bank balance $ 536,137 $ 735,076 $ 1,271,213
Carrying amount $ 364,795 $ 727,602 $ 1,092,397
At December 31, 1991, all City deposits were insured or collateralized by securities held by the City's
agent in the City's name, and all HRA deposits were insured or collateralized by securities held by the
HRA's agent in the HRA's name.
B. 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.
The City's investments are categorized on the following page 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.
-34-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Notes to Financial Statements (continued)
December 31, 1991
NOTE 2 - CASH AND INVESTMENTS (CONTINUED)
Investment balances at December 31, 1991 are as follows:
Credit Risk Category Carrying Market
1 2 3 Value Value
U.S. Government
Securities (including
securities insured by
the U.S. Government) $ 8,004,621 $ 6,543,200 $ 2,066,025 $ 16,613,846 $ 13,295,578
Government money
market mutual funds 3,380,297 3,380,297
Total investments $ 19,994,143 $ 16,675,875
C. Summary of Cash and Investments
Cash and temporary investments at December 31, 1991 are summarized as follows:
Citv HRA Total
Deposits $ 364,795 $ 727,602 $ 1,092,397
Cash on hand 5,800 50 5,850
Investments 19,994,143 - 19,994,143
Total cash and temp-
orary investments $ 20,364,738 $ 727,652 $ 21,092,390
Assets held by deferred compensation
trustees (recognized at market value) $ 940,934 $ 154,615 $ 1,095,549
NOTE 3 - LEGAL COMPLIANCE /BUDGETS
Total actual expenditures exceeded budgeted expenditures (appropriations) in the following funds:
Special Revenue Funds
Paratransit $ 2,815
Debt Service Funds
Tax Increment Bonds $ 12,015
-35-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Notes to Financial Statements (continued)
December 31, 1991
NOTE 4 - INTERGOVERNMENTAL RECEIVABLES
Intergovernmental receivables at December 31, 1991 presented as due from other governmental units are
composed of the following:
City
General Fund
FEMA $
333
City of St. Anthony
46
Anoka County
26,526
City of Hilltop
57,059
Total General Fund
83,964
Special Revenue Funds
D.A.R.E. Program - State of Minnesota
263
Municipal State Aid - State of Minnesota
55,142
Cable Television - City of Hilltop
1,758
Paratransit - City of Fridley
595
Total Special Revenue Funds
57,758
Capital Project Funds
Independent School District No. 13
147,438
Enterprise Funds
Sewer - M.W.C.C.
172,082
Refuse - Anoka County
49,457
Liquor - State of Minnesota
773
Total Enterprise Funds
222,312
Total City
511,472
I:i
HUD - CIAP 159,107
Metropolitan Council 10,455
Anoka County CDBG 31,389
Total HRA 200,951
Total Intergovernmental Receivables $ 712,423
-36-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
' Notes to Financial Statements (continued)
December 31, 1991
NOTE 4 - INTERGOVERNMENTAL RECEIVABLES (CONTINUED)
' A. Proprietary Funds Contract Receivable and Deferred Receivable
1) 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 M.W.C.C. over a 30 -year
period with interest at 4 %.
As of December 31, 1991, a balance of $165,598 remained to be collected over the next eleven
years.
This receivable is presented as Due From Other Governmental Units in the Sewer Utility Fund.
2) 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- M.W.C.C. at
December 31, 1991 was $6,484 and is collectible over the next six years.
INOTE 5 - LOANS RECEIVABLE
Loans receivable for the Housing and Redevelopment Authority consists of the following:
' HRA
General
' Fund
Home Improvement Loans $ 11,455
' Mortgage Loans 205,947
Anoka County Community Action
Program (ACCAP) Loans 182,002
t$ 399,404
These loans relate primarily to personal residences of lower income individuals under a Community
Development Program.
1 -37-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Notes to Financial Statements (continued)
December 31, 1991
NOTE 6 - INTERFUND RECEIVABLES AND PAYABLES
Individual fund interfund receivables and payables at December 31, 1991 consist of the following:
Interfund Interfund
Receivables Payables
Special Revenue Funds
Municipal State Aid $ - $ 42,907
Cable Television 42,907 -
Total Special Revenue Funds 42,907 42,907
Capital Project Funds
Capital Improvement - 197,155
Capital Improvement Projects - 2,031
Capital Improvement Replacement 199,186 -
Total Capital Project Funds 199,186 199,186
Total City $ 242,093 $ 242,093
-38-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Notes to Financial Statements (continued)
December 31, 1991
NOTE 7 - INTERFUND TRANSFERS
Operating Transfers
From
To
Amount
Purpose
General
D.A.R.E. Project
$ 1,500
Fund D.A.R.E. Program
General
Paratransit
5,000
Fund City Portion Expense
General
Capital Improvement Replacement
80,000
Replacement Fixed Assets
General
Central Garage
37,800
Special Assessment
Central Garage
Central Garage Equipment
Replacement Account
5,000
Garage Building Improvements
Tax Increment Bonds
Tax Increment Bonds of 1984
171,353
Debt Service
Tax Increment Bonds
Tax Increment Bonds of 1985
130,420
Debt Service
Tax Increment Bonds
Tax Increment Bonds 1987A
1,066,660
Debt Service
Tax Increment Bonds
Tax Increment Bonds of 1987
213,063
Debt Service
Tax Increment Bonds
Capital Appreciation Bonds of 1990
308
Debt Service
Capital Improvement
Capital Improvement
100,344
Close Projects
Water Capital Replace-
Water Utility
ment Account
91,762
Close Projects
Water Utility
Water Capital Equipment
Replacement Account
20,000
Replacement Fixed Assets
Water Capital Equipment
Water Utility
Replacement Account
21,333
Infrastructure Replacement
Sewer Capital Construc-
Sewer Utility
tion Account
27,849
Fund Projects
Sewer Utility
Sewer Capital Equipment
Replacement Account
35,000
Replacement Fixed Assets
Sewer Capital Equip-
Sewer Utility
ment Replacement
21,334
Equipment Replacement
Capital Improvement
General
48,568
Administrative Labor
Cable Television
General
44,788
Administrative Labor
Paratransit
General
8,060
Administrative Labor
Liquor Utility
General
54,432
Administrative Labor
Water Utility
General
43,878
Administrative Labor
Refuse Utility
General
67,957
Administrative Labor
Liquor Utility
General
160,000
Replacement Fixed Assets
Sewer Utility
General
43,874
Administrative Labor
Tax Increment Bonds of 1987A
Tax Increment Funds of 1985
1,800,000
Call Bonds
State Aid Maintenance
General
74,431
State Aid Street Maintenance
Cable T.V.
General
25,000
Fund Projects
State Aid Maintenance
State Aid Construction
30,125
Fund Projects
State Aid Construction
Capital Improvement
13,945
Fund Projects
State Aid Construction
State Aid Maintenance
5,355
Fund Projects
Insurance
Capital Replacement
6,499
Replace Damaged Vehicle
Total Operating Transfers
$ 4,455,638
-39-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Notes to Financial Statements (continued)
December 31, 1991
NOTE 7 - INTERFUND TRANSFERS (CONTINUED)
Residual Equity Transfer
From
Special Revenue
Recreation Contributed Projects
To
Amount Purpose
Special Revenue
Contributed Projects $ 2,513 Residual Equity
NOTE 8 - FIXED ASSETS
The following is a summary of changes in the General Fixed Assets Account Group during the fiscal
year:
-40-
Balance
December 31,
Retirements 1991
$ 10 $ 3,132,099
- 3,013,217
- 1,364,692
117,481 3,881,445
482,818 964,114
$ 600,309 $ 12,355,567
26,346
2,381,117
$ 69,688
4,618,705
343,956
$ 2,407,463 $ 5,032,349
Balance
January 1,
City
1991
Additions
Land
$
3,131,134
$
975
Buildings
3,002,543
10,674
Improvements other
than buildings
1,214,661
150,031
Machinery and equipment
3,735,420
263,506
Construction in process
963,939
482,993
Total City general
fixed assets
$
12,047,697
$
908,179
HRA
Land
$
69,688
$
-
Buildings
2,280,819
2,337,886
Furniture, fixtures, and
office equipment
296,467
73,835
Construction in process
327,050
2,054,067
Total HRA general
fixed assets
$
2,974,024
$
4,465,788
-40-
Balance
December 31,
Retirements 1991
$ 10 $ 3,132,099
- 3,013,217
- 1,364,692
117,481 3,881,445
482,818 964,114
$ 600,309 $ 12,355,567
26,346
2,381,117
$ 69,688
4,618,705
343,956
$ 2,407,463 $ 5,032,349
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Notes to Financial Statements (continued)
December 31, 1991
NOTE 8 - FIXED ASSETS (CONTINUED)
The following is a summary of Proprietary Fund Type fixed assets at December 31, 1991:
Net fixed assets $ 1,693,844 $ 1,639,587 $ 2,047 $ 275,770 $ 3,611,248 $ 350,148 $$ 3_,961396
NOTE 9 - OPERATING LEASES
The City has leased premises for a liquor store under a five -year lease agreement that originally expired
in 1989. This lease was renewed for two years ending December 31, 1991. The City has exercised a
three -year renewal option through December 31, 1994. This lease is considered for accounting purposes
to be an operating lease. Lease expenditures for the year ended December 31, 1991 amounted to
$70,745.
NOTE 10 - LONG -TERM DEBT
General Obligation Bonds - The City issues General Obligation Bonds to provide funds for the acquisition
and construction of major capital facilities. In addition, General Obligation Bonds have been issued to
refund General Obligation Tax Increment and General Obligation Special Assessment Bonds.
-41-
Water
Sewer
Refuse
Liquor
Total
Internal
Total
Utility
Utility
Utility
Utility
Enterprise
Service
Proprietary
Land
$ 45,223
$ 36,586
$ -
$ 13,051
$ 94,860
$ -
$ 94,860
Buildings
233,236
45,690
-
183,522
462,448
307,888
770,336
Improvements
other than
buildings
2,661,821
3,007,791
2,890
100,093
5,772,595
98,629
5,871,224
Machinery
and equipment
242,580
366,685
615
201,925
811,805
97,412
909,217
3,182,860
3,456,752
3,505
498,591
7,141,708
503,929
7,645,637
Less accumulated
depreciation
1,489,016
1,817,165
1,458
222,821
3,530,460
153,781
3,684,241
Net fixed assets $ 1,693,844 $ 1,639,587 $ 2,047 $ 275,770 $ 3,611,248 $ 350,148 $$ 3_,961396
NOTE 9 - OPERATING LEASES
The City has leased premises for a liquor store under a five -year lease agreement that originally expired
in 1989. This lease was renewed for two years ending December 31, 1991. The City has exercised a
three -year renewal option through December 31, 1994. This lease is considered for accounting purposes
to be an operating lease. Lease expenditures for the year ended December 31, 1991 amounted to
$70,745.
NOTE 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.
-41-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Notes to Financial Statements (continued)
December 31, 1991
NOTE 10 - LONG -TERM DEBT (CONTINUED)
General Obligation Bonds are direct obligations and are backed by the full faith and credit of the City
General Obligation Bonds currently outstanding are as follows:
Special Assessment Bonds
General Government
Permanent Improve-
ment Refunding
Bonds of 1987
Tax Increment Bonds
General Government
Tax Increment
Bonds of 1984
General Government
Tax Increment
Refunding Bonds of
1987, Series A
General Government
Tax Increment Taxable
Bonds of 1987
General Obligation Tax
Increment Capital
Appreciation Bonds
of 1990
Principal
General Obligation Tax
Increment Refunding
Final
Original Interest Issue Maturity Balance
Issue Rate Date Date End of Year
$ 2,230,000 5.50-5.60% 6/01/87 3/01/95 $ 1,185,000
1,070,000 8.50 -9.40
9,090,000 5.75 -7.50
1,100,000 8.40 -9.10
2,399,721 6.90 -7.15
6/01/84 3/01/94 440,000
6/01/87 3/01/02 8,565,000
8/01/87 2/01/97 980,000
8/23/90 9/01/09 2,399,721
Bonds of 1991 6,670,000 4.75 -5.80 12/01/91 3/01/02 6,670,000
$ 20,239,721
Annual debt service requirements to maturity for general obligation bonds including interest of
$8,624,856, are as follows:
-42-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Notes to Financial Statements (continued)
December 31, 1991
NOTE 10 - LONG -TERM DEBT (CONTINUED)
Fiscal Year
Ending
December 31
1992
1993
1994
1995
1996
Thereafter
Total
$ 2,197,433
2,269,072
8,564,594
1,758,141
1,466,072
12,609,265
$ 28,864,577
These figures include a refunding payment of $6,550,000 in 1994 for Tax Increment Refunding Bonds
of 1987 to be paid in full from an escrow account managed by Norwest Bank Trust Services. Until the
crossover refunding date, interest payments for Tax Increment Refunding Bonds of 1991 will be fully
paid from interest income generated by the escrow account.
At December 31, 1991, a total of $9,603,694 is available in Debt Service Funds to service the General
Obligation Special Assessment and Tax Increment Bonds. There are a number of limitations 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
assessments levied on the properties benefitting from the improvements. 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 but 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:
1 -43-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Notes to Financial Statements (continued)
December 31, 1991
NOTE 10 - LONGTERM DEBT (CONTINUED)
A. 1977 Downtown CBD Revitalization Plan A3
Type of District
Authorizing Law
Duration of District
Original Tax Capacity
Current Tax Capacity (for taxes collectible in 1991)
Captured Tax Capacity Retained
Bonds Issued
Principal Payments
Bonds Outstanding at December 31, 1991
Redevelopment
HRA (Minnesota Statutes Sections
462.545 and 462.585)
August 1, 2009
$ 118,634
$ 1,195,404
$ 1,076,770
$ 28,434,721
$ 10,800,000
$ 17,634,721
B. 1984 Modification to the Downtown CBD Revitalization Plan C7
Type of District
Authorizing Law
Duration of District
Original Tax Capacity
Current Tax Capacity (for taxes collectible in 1991)
Captured Tax Capacity Retained
Bonds Issued
Principal Payments
Bonds Outstanding at December 31, 1991
C. 1984 University Avenue Redevelopment C8
Type of District
Authorizing Law
Duration of District
Original Tax Capacity
Current Tax Capacity (for taxes collectible in 1991)
Captured Tax Capacity Retained
Bonds Issued
Principal Payments
Bonds Outstanding at December 31, 1991
-44-
Redevelopment
HRA (Minnesota Statutes Sections
462.545 and 462.585)
August 1, 2009
$ 37,928
$ 80,549
$ 42,621
Redevelopment
HRA (Minnesota Statutes Sections
462.545 and 462.585)
August 1, 2009
$ 25,176
$ 114,322
$ 89,146
$ 1,070,000
$ 630,000
$ 440,000
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Notes to Financial Statements (continued)
December 31, 1991
NOTE 10 - LONG -TERM DEBT (CONTINUED)
D. 1987 Sullivan Lake Development H2
Type of District
Authorizing Law
Duration of District
Original Tax Capacity
Current Tax Capacity (for taxes collectible in 1991)
Captured Tax Capacity Retained
Bonds Issued
Principal Payments
Bonds Outstanding at December 31, 1991
E. 1989 Multi -Use Redevelopment Plan K2
Redevelopment
HRA (Minnesota Statutes Sections
462.545 and 462.585)
August 1, 2009
$ 38,186
$ 93,471
$ 55,285
$ 1,100,000
$ 120,000
$ 980,000
Type of District Redevelopment
Authorizing Law HRA (Minnesota Statutes Sections
469.001 to 469.047 and 469.714
to 469.178)
Duration of District October 4, 2014
Original Tax Capacity $ 249,832
Current Tax Capacity (for taxes collectible in 1991) $ 210,484
Captured Tax Capacity Retained $ -
Bonds Issued $
Principal Payments $ -
Bonds Outstanding at December 31, 1991 $ -
Changes in Long -Term Liabilities - During the year ended December 31, 1991, the following changes
occurred in liabilities reported in the General Long -Term Debt Account Group:
-45-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Notes to Financial Statements (continued)
December 31, 1991
NOTE 10 - LONGTERM DEBT (CONTINUED)
Balance
City January 1
Note payable to HRA
General Obligation
Tax Increment Bonds
Principal
Accreted interest
General Obligation Special
Assessment Bonds
Liability for compen-
sated absences
Total City
HRA
Note payable ( #105 -902) to
U.S. Department of Housing
and Urban Development; note
and related interest were
forgiven in 1991
Liability for compen-
sated absences
Balance i
Additions Reductions December 31
$ 17,177
$ - $
568 $
16,609
15,004,721
6,670,000
2,620,000
19,054,721
-
175,444
-
175,444
1,460,000
-
275,000
1,185,000
295,051
34,193
-
329,244
$ 16,776,949
$ 6,879,637 $
2,895,568 $
20,761,018
$ 125,905
$ - $
125,905 $
-
8,839
1,035
-
9,874
Total HRA $ 134,744 $ 1,035 $ 125,905 $ 9,874 '
In 1987, the City issued $9,090,000 of General Obligation Tax Increment Refunding Bonds to advance
refund $6,925,000 of the City's General Obligation Tax Increment Bonds of 1980 and $1,800,000 of the
City's General Obligation Tax Increment Bonds of 1985. Pending the call of bonds to be refunded, the
proceeds were deposited in an escrow account. In 1990, bonds of the 1980 issue maturing on or after
March 1, 1991 in the amount of $6,925,000 were redeemed with funds held in escrow. In addition,
bonds of the 1985 issue maturing on or after March 1, 1992 in the amount of $1,800,000 were redeemed
in 1991 with remaining funds held in escrow.
In December 1991, the City issued $6,670,000 of General Obligation Tax Increment Refunding Bonds
to advance refund $6,550,000 of the City's Tax Increment Refunding Bonds of 1987. Pending the call ,
of the bonds to be refunded in 1994, the proceeds were deposited in an escrow account. Principal and
interest on the 1987 bonds will be paid by the City until the call date. Interest payments on the 1991
issue will be paid from proceeds of the escrow account until the call date, after which time interest and
principal will be paid by the City. The advance refunding of the bonds resulted in a positive cash flow
and net savings to the City as indicated by the table on the following page.
�J
ICITY OF COLUMBIA HEIGHTS, MINNESOTA
Notes to Financial Statements (continued)
December 31, 1991
r
NOTE 10 - LONGTERM DEBT (CONTINUED)
(
Non - Refunded
Refunding
Total New
Existing
Savings
Date
Debt Service
Debt Service
Debt Service
Debt Service
or (Loss)
03/01/92
$ 934,343
$ _
$ 934,343
$ 934,343
$
09/01/92
03/01/93
1,230,285
-
1,230,285
1,230,285
-
09/01/93
-
-
-
03/01/94
1,203,125
_
1,203,125
1,203,125
09/01/94
-
-
-
-
-
03/01/95
-
1,251,385
1,251,385
1,283,645
32,260
'
09/01/95
-
-
-
-
03/01/96
_
1,286,505
1,286,505
1,319,525
33,020
09/01/96
-
-
-
-
-
03/01/97
1,221,105
1,221,105
1,257,645
36,540
09/01/97
_
03/01/98
-
1,210,075
1,210,075
1,243,945
33,870
09/01/98
03/01/99
=
1,110,407
1,110,407
1,145,785
35,378
09/01/99
03/01/2000
-
1,016,828
1,016,828
1,048,825
31,997
09/01/2000
-
-
-
-
03/01/2001
_
924,178
924,178
958,125
33,947
09/01/2001
-
-
-
-
-
03/01/2002
-
228.007
228.007
263.375
35.368
$ 3,367;753 $ 8,248,490 $ 11,616,243 $ 11,888,623 $ 272,380
With the exception of the 1990 Tax Increment Bonds, all General Obligation Bonds are serial bonds
which require semiannual payments of principal and /or interest from the date the bonds are issued. The
1990 Tax Increment Bonds are Capital Appreciation Bonds which require no payments of principal or
j interest until September 2002. During the year ended December 31, 1991, accreted interest of $175,444
was included in general long -term debt for the 1990 Tax Increment Capital Appreciation Bonds.
NOTE 11 - FUND EQUITY
The following funds had a fund deficit as of December 31, 1991:
Special Revenue Funds
Municipal State Aid
Capital Project Funds
Capital Improvement Fund 401
-47-
Fund
Deficit
$ 10,834
$ 79,002
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Notes to Financial Statements (continued)
December 31, 1991
NOTE 11 - FUND EQUITY (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 Insurance Internal Service 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.
Reserve for Capital Replacement /Construction - This reserve in the Water and Sewer Enterprise Funds
and the Central Garage Internal Service Fund represents funds set aside to pay for appropriate future
capital replacement /construction projects.
Reservations of retained earnings are summarized as follows at December 31, 1991:
Reserve for capital replacement /construction
Water Utility Fund
Sewer Utility Fund
Central Garage Fund
Reserve for insurance
B. Reservation of Fund Balances
Internal
Enterprise Service Total
$ 679,674 $ -
2,370,028 -
- 26,521
- 453,191
$ 679,674
2,370,028
26,521
453,191
$ 3,049,702 $ 479,712 $ 3,529,414
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.
Reserve for Apartment Project Maintenance - This reserve represents financial resources committed to
fund future maintenance activity in an apartment building owned and operated by the Housing and
Redevelopment Authority.
Reserved for Redevelopment - This reserve represents financial resources committed to fund future
redevelopment or associated debt service.
-48-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Notes to Financial Statements (continued)
December 31, 1991
NOTE 11 - FUND EQUITY (CONTINUED)
Reservations of fund balances at December 31, 1991 are summarized as follows:
Reserve for redevelopment $ 95,366
Reserve for community development 160,187
Reserve for apartment project maintenance 118,770
G` '1'7 A 717
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 equity designations.
Designated for Working Capital - This amount represents funds set aside by the City to provide positive
cash flow for the next fiscal year.
Designated unreserved fund balances at December 31, 1991 are summarized as follows:
Special Debt Capital
General Revenue Service Proiect Total
Designated for
debt service $ - $ - $ 9,603,694 $ - $ 9,603,694
Designated for
subsequent years'
expenditures 101,528 3,342 - 528,739 633,609
Designated for
working capital 2,931,567 - - - 2,931,567
Total designated
unreserved fund
balance $ 3,033,095 $ 3,342 $ 9,603,694 $ 528,739 $ 13,168,870
NOTE 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, 1991 is presented on the following page:
-49-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Notes to Financial Statements (continued)
December 31, 1991
NOTE 12 - SEGMENT INFORMATION - ENTERPRISE FUNDS (CONTINUED)
Operating revenues $
Depreciation expense $
Operating income
(loss) $
Net income (loss) $
Total operating
transfers $
Property, plant,
and equipment
Additions $
Net working capital $
Net cash provided
(used) by operating
Water
$
Sewer
$
Refuse
Liquor
Total
2,587,082
$
808,227
$
774,047
$
1,573,612
$
4,789,343
$ 7,945,229
76,933
$
132,472
$
351
$
33,025
$ 242,781
49,790
$
(224,007)
$
131,441
$
394,719
$ 351,943
59,847
$
(111,570)
$
71,682
$
222,923
$ 242,882
(43,879)
$
(43,874)
$
(67,957)
$
(214,432)
$ (370,142)
124,393 $ 57,310 $
817,548 $ 2,223,338 $
activities
$
111,361
$
(85,065) $
Total assets
$
2,587,082
$
4,062,647 $
Total equity -
contributed
$
883,102
$
746,007 $
Total equity -
retained earnings
$
1,628,290
$
3,289,000 $
- $ 34,143 $ 215,846
468,181 $ 824,703 $ 4,333,770
160,574 $ 439,208 $ 626,078
498,899 $ 1,347,177 $ 8,495,805
- $ - $ 1,629,109
470,228 $ 1,100,473 $ 6,487,991
NOTE 13 - PROPRIETARY FUNDS' CONTRIBUTED CAPITAL
This balance represents the cost of property contributed to the Enterprise Funds and Internal Service
Funds by the City, less depreciation thereon charged to operations. Changes occurring in the account
during the year were as follows:
Water Sewer Central
Utility Utility Garage Total
Balance - beginning of year $ 909,396 $ 784,942 $ 188,849 $ 1,883,187
Less depreciation on contributed assets 26,294 38,935 - 65,229
Balance - end of year $ 883,102 $ 746,007 $ 188,849 $ 1,817,958
-50-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Notes to Financial Statements (continued)
December 31, 1991
NOTE 14 - DEFINED BENEFIT PENSION PLANS - STATEWIDE
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, 1991 was $2,337,581 and $1,022,008, respectively; the City's total payroll was
$3,938,657.
PERA provides retirement benefits as well as disability benefits to members, and benefits to survivors
upon the 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 2.0% of the average salary for each of the first
ten years of service and 2.5% for each remaining year. For a Coordinated member, the annuity accrual
rate is 1.0% of the average salary for each of the first ten years and 1.5% for each remaining year.
Using Method 2, the annuity accrual rate is 2.5% of the average salary for Basic members and 1.5% for
Coordinated members. For PEPFF members, the annuity accrual rate is 2.5% for each year of service.
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 retirement age. Refunds of contributions are available at any time to members who leave public
service, but before retirement benefits begin.
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, Subdivision 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 actuarially required contribution rates for the plans are as follows:
-51-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Notes to Financial Statements (continued)
December 31, 1991
NOTE 14 - DEFINED BENEFIT PENSION PLANS - STATEWIDE (CONTINUED)
Statutory Rates Required
Employees Employer Rates
PERF (Basic and
Coordinated Plans) 4.44% 4.81% 10.04%
PEPFF 8.00% 12.00% 17.56%
Total contributions made by the City during fiscal year 1991 were:
Amounts
Employees Employer
PERF $ 111,692 $ 124,743
PEPFF 81,760 122,641
$ 193,452 $ 247,384
Percentage of
Covered Payroll
Employees Employer
4.78% 5.34%
8.00% 12.00%
The City's contribution for the year ended December 31, 1991 to the PERF represented 0.12% of total
contributions required of all participating entities. For the PEPFF, contributions for the year ended
December 31, 1991 represented 0.46% of total contributions required of all participating entities.
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.
-52-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
' Notes to Financial Statements (continued)
December 31, 1991
NOTE 14 - DEFINED BENEFIT PENSION PLANS - STATEWIDE (CONTINUED)
The pension benefit obligations as of June 30, 1991 are shown below:
PERF PEPFF
(In Thousands)
Total pension benefit obligation $ 4,458,010 $ 732,911
Net assets available for
benefits, at cost (market
values for PERF = $3,662,769;
PEPFF = $872,430) 3,524,071 823,125
Unfunded (assets in excess of)
pension benefit obligation $ 933,939 $ (90,214)
The measurement of the pension benefit obligation is based on an actuarial valuation as of
June 30, 1991. Net assets available to pay pension benefits were valued as of June 30, 1991.
2. Changes in Benefit Provisions
During the 1991 legislative session, benefit improvements were obtained for survivors of
members in the Basic Plan and the Police and Fire Fund. In the Basic Plan, the maximum family
death benefit was increased from $1,000 per month to 70% of the member's average salary. In
the Police and Fire Fund, children's benefits were restored for families of disabled members who
had chosen the joint and survivor annuity option before death. The effect of these changes
increased the pension benefit obligation in the PERF by $4,016,869 and had essentially no effect
on the pension benefit obligation in the PEPFF.
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, 1991. 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, 1991, and for the fiscal year then ended, PERA held no securities issued by the City or
other related parties.
1 -53-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Notes to Financial Statements (continued)
December 31, 1991
NOTE 15 - SUMMARY OF SINGLE EMPLOYER DEFINED BENEFIT PENSION PLANS
Certain full -time and volunteer fire fighters and policemen of the City participate in one of three single
employer defined benefit pension plans. A detailed presentation of pension benefits, contributions, and
funding status for each of the three plans is included in the notes that immediately follow this note to the
financial statements. A summary of the pension benefit obligation and net assets available for benefits
at December 31, 1991 is summarized as follows:
NOTE 16 - DEFINED BENEFIT PENSION PLANS - FIRE RELIEF ASSOCIATION,
VOLUNTEER DIVISION
A. Plan Description
Volunteer fire fighters 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- officio members of the Board of Trustees. The City's payroll for
members of the Volunteer Relief Association for the year ended December 31, 1991 was $64,413,
compared to a total City payroll of $3,938,657.
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.
-54-
Fire Relief
Fire Relief
Total
Association -
Association -
Police
Single
Volunteer
Paid
Relief
Employer
Division
Division
Association
Plans
Pension benefit obligation
$ 528,085
$ 2,359,384
$ 4,634,966
$ 7,522,435
Net assets available for
pension benefits, at cost
793,557
1,545,236
2,972,595
5,311,388
Unfunded (assets in excess of)
pension benefit obligation
$ (265,472)
$ 814,148
$ 1,662,371
$ 2,211,047
NOTE 16 - DEFINED BENEFIT PENSION PLANS - FIRE RELIEF ASSOCIATION,
VOLUNTEER DIVISION
A. Plan Description
Volunteer fire fighters 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- officio members of the Board of Trustees. The City's payroll for
members of the Volunteer Relief Association for the year ended December 31, 1991 was $64,413,
compared to a total City payroll of $3,938,657.
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.
-54-
ICITY OF COLUMBIA HEIGHTS, MINNESOTA
Notes to Financial Statements (continued)
December 31, 1991
NOTE 16 - DEFINED BENEFIT PENSION PLANS - FIRE RELIEF ASSOCIATION,
VOLUNTEER DIVISION (CONTINUED)
C. Contributions Required and Contributions Made
' The Association'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, 1991, contributions totaling $24,749 (all employer) were made in
accordance with contribution requirements determined by an actuarial valuation of the Plan as of
' December 31, 1990. The contributions represent 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 amount shown on the followig page 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 (1) help users assess the Plan's funding
status on a going- concern basis, (2) assess progress being made in accumulating sufficient assets to pay
benefits when due, and (3) 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 using estimates provided by the actuaries of the Plan as
of December 31, 1991. The most recent actuarial valuation was completed for the year ended
December 31, 1990. 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 5.0% per year compounded
annually and (b) the assumption that benefits will not increase after retirement.
' At December 31, 1991, the assets in excess of the pension benefit obligation were $265,472, determined
as follows:
1 -55-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Notes to Financial Statements (continued)
December 31, 1991
NOTE 16 - DEFINED BENEFIT PENSION PLANS - FIRE RELIEF ASSOCIATION,
VOLUNTEER DIVISION (CONTINUED)
Pension benefit obligation
Retirants and beneficiaries currently receiving benefits
and terminated employees not yet receiving benefits $ 292,016
Current employees
Accumulated employee contributions including
allocated investment income -
Employer financed 236,069
Total pension benefit obligation 528,085
Net assets available for benefits, at cost
(market value was $841,473) 793,557
Assets in excess of pension benefit obligation $ 265,472
The total pension benefit obligation as of January 1, 1991 was $583,497. During the year, the Plan
experienced a net decrease of $55,412 in the pension benefit obligation primarily due to the payment of
a large amount of benefits to retirants in 1991.
E. Historical Trend Information
1. Three -Year Historical Trend Information
December 31
1989 1990 1991
Net assets available for benefits, as a
percentage of pension benefit obligation 116 % 145 % 150 %
Unfunded (assets in excess of) pension
benefit obligation, as a percentage of
annual covered payroll (186) % (401) % (412) %
Employer contributions, as a
percentage of annual covered payroll 24 % 41 % 38 %
Financial requirements of the Relief Association are determined in accordance with State Statutes
rather than actuarially.
-56-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Notes to Financial Statements (continued)
December 31, 1991
NOTE 16 - DEFINED BENEFIT PENSION PLANS - FIRE RELIEF ASSOCIATION,
VOLUNTEER DIVISION (CONTINUED)
2. Ten -Year 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.
F. Related Party Investments
During 1991, the Association held no securities issued by the City or other related parties.
NOTE 17 - DEFINED BENEFIT PENSION PLANS - FIRE RELIEF ASSOCIATION, PAID
DIVISION
A. Plan Description
Paid full -time regular fire fighters 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, 1991 was $47,892 compared to a total City payroll of $3,938,657.
B. Pension Benefits
A fire fighter 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 1/2%
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.
-57-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Notes to Financial Statements (continued)
December 31, 1991
NOTE 17 - DEFINED BENEFIT PENSION PLANS - FIRE RELIEF ASSOCIATION, PAID
DIVISION (CONTINUED)
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 actuarially 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 19 years.
During the year ended December 31, 1991, contributions totaling $116,500 (all employer) were made
in accordance with contribution requirements determined by an actuarial valuation of the Plan as of
December 31, 1989. Employer contributions represented 243% of current covered payroll. The
employer contributions consisted of $9,142 for normal cost (19% of current covered payroll) and
$107,358 for amortization of unfunded actuarial accrued liability (224% 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 on the following page 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 (1) help users assess the Plan's funding
status on a going- concern basis, (2) assess progress being made in accumulating sufficient assets to pay
benefits when due, and (3) 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, 1991. 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 5.0% per year compounded
annually, (b) projected salary increases of 3.5% per year compounded annually, attributable to inflation,
and (c) the assumption that benefits will increase 3.5% per year after retirement.
At December 31, 1991, the unfunded pension benefit obligation was $814,148, determined as follows:
-58-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Notes to Financial Statements (continued)
December 31, 1991
NOTE 17 - DEFINED BENEFIT PENSION PLANS - FIRE RELIEF ASSOCIATION, PAID
' DIVISION (CONTINUED)
Pension benefit obligation
' Retirants and beneficiaries currently receiving benefits
and terminated employees not yet receiving benefits $ 2,038,044
' Current employees
Accumulated employee contributions including
allocated investment income 33,182
1 Employer financed 288,158
Total pension benefit obligation 2,359,384
Net assets available for benefits, at cost
(market value was $1,623,623) 1,545,236
' Unfunded pension benefit obligation $ 814,148
The total pension benefit obligation as of January 1, 1991 was $2,346,293. During the year, the Plan
experienced a net increase of $13,091 in the pension benefit obligation.
E. Historical Trend Information
' 1. Three -Year Historical Trend Information
December 31
1989 1990 1991
' Net assets available for benefits, as a
percentage of pension benefit obligation 59% 62% 65%
Unfunded (assets in excess of) pension
benefit obligation, as a percentage of
annual covered payroll 2,276% 2,003% 1,700%
' Employer contributions, as a
percentage of annual covered payroll 276% 264% 243%
Contributions made were in accordance with actuarially determined requirements.
' 2. Ten -Year 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.
1 -59-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Notes to Financial Statements (continued)
December 31, 1991
NOTE 17 - DEFINED BENEFIT PENSION PLANS - FIRE RELIEF ASSOCIATION, PAID
DIVISION (CONTINUED)
F. Related Party Investments
During 1991, the Association held no securities issued by the City or other related parties.
NOTE 18 - 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 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, 1991 was $149,694
compared to a total City payroll of $3,938,657.
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
Association's 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 1/2% 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 35/80 of salary at the time of the disability.
C. Contributions Required and Contributions Made
The Association's funding policy provides for periodic employer contributions at actuarially 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 18 years.
During the year ended December 31, 1991, contributions totaling $213,387 ($203,764 employer and
$9,623 employees) were made in accordance with contribution requirements determined by an actuarial
valuation of the Plan as of December 31, 1989. The employer contribution consisted of $53,748 for
normal cost and $150,016 for amortization of the unfunded actuarial accrued liability. Employer
contributions represented 136% of covered payroll.
•1
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Notes to Financial Statements (continued)
December 31, 1991
NOTE 18 - DEFINED BENEFIT PENSION PLANS - POLICE RELIEF ASSOCIATION
(CONTINUED)
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 5.0% per year compounded
annually.
2. Projected salary increases of 3.5% per year compounded annually, attributable to inflation.
3. The assumption that benefits will increase 3.5% per year after retirement.
At December 31, 1991, 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
Current employees
Accumulated employee contributions
including allocated investment income
Employer financed
Total pension benefit obligation
Net assets available for benefits, at cost
(market value was $3,133,106)
Unfunded pension benefit obligation
$ 3,168,084
144,269
1,322,613
4,634,966
2,972,595
$ 1,662,371
The total pension benefit obligation as of January 1, 1991 was $4,526,321. During the year, the Plan
experienced a net change of $108,645 in the pension benefit obligation.
-61-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Notes to Financial Statements (continued)
December 31, 1991
NOTE 18 - DEFINED BENEFIT PENSION PLANS - POLICE RELIEF ASSOCIATION
(CONTINUED)
E. Historical Trend Information
1. Three -Year Historical Trend Information
December 31
1989 1990 1991
Net assets available for benefits, as a
percentage of pension benefit obligation 60% 61% 64%
Unfunded (assets in excess of) pension
benefit obligation, as a percentage of
annual covered payroll 808% 1,238% 1,110%
Employer contributions, as a
percentage of annual covered payroll 96% 131% 136%
Financial requirements of the Relief Association are determined in accordance with State Statutes
rather than actuarially.
2. Ten -Year 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.
F. Related Party Investments
During 1991, the Association held no securities issued by the City or other related parties.
NOTE 19 - 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.
-62-
' CITY OF COLUMBIA HEIGHTS, MINNESOTA
' Notes to Financial Statements (continued)
December 31, 1991
NOTE 19 - DEFERRED COMPENSATION PLAN (CONTINUED)
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 creditors. Participants' rights under the Plan are equal
to those of general creditors 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.
NOTE 20 - COMMITMENTS AND CONTINGENCIES
' A. 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.
During 1989, the HRA was added to the City of Columbia Heights Workers' Compensation Policy. The
policy is a premium refund option plan which has an established minimum premium that both the City
and the HRA pay. The policy also has a maximum premium based on the number of claims and the cost
of the claims during the year. Under the terms of this policy, the potential cost to the HRA could be
significantly higher than the minimum premiums paid. The HRA is aware of no claims that would result
in additional premium payments at this time. In February 1991, the HRA purchased its own workers'
compensation policy which is not subject to the minimum /maximum premium provisions.
B. Litigation
The City had the usual and customary type of miscellaneous claims pending at year -end, mostly of a
minor nature. The City has been named a defendant in litigation alleging excessive use of force during
an arrest by the City's police officers. The plaintiff has not specified monetary damages at the current
time. A trial date is expected some time in 1992. There is no insurance coverage available relating to
this action because the City was self - insured at the time of the arrest. The outcome of this case and the
other miscellaneous claims 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.
-63-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Notes to Financial Statements (continued)
December 31, 1991
NOTE 20 - COMMITMENTS AND CONTINGENCIES
C. Federal and State Funds
Amounts received or receivable from federal and state agencies are subject to agency audit and
adjustment. Any disallowed claims, including amounts already collected, may constitute a liability of the
applicable funds. The amount, if any, of funds which may be disallowed by the agencies cannot be
determined at this time although the HRA expects such amounts, if any, to be immaterial.
D. HRA Redevelopment Agreements
The HRA is asserting claims to 1990 tax increment deficiencies totaling approximately $91,500 from a
redeveloper pursuant to the terms of a 1987 private redevelopment agreement between the HRA and such
redeveloper. The HRA is currently pursuing litigation to collect such deficiencies.
Under the terms of an amended 1988 private redevelopment agreement between the HRA and a
redeveloper, such redeveloper was entitled to and was paid a payment of $60,000 of tax increment funds
collected in connection with a related Tax Increment District by December 1, 1990 and another $60,000
by December 1, 1991. In addition, the agreement calls for additional payments of tax increment funds
as follows:
On or before December 1, 1992 $10,000 plus $50,000 times the appli-
cable percentage as of January 2, 1992
The applicable percentage is defined as a percentage equal to a fraction, the numerator of which is the
gross leasable area stated in square footage of that part of the office /retailing portion which is leased as
of the dated referenced, and the denominator of which is 90% of the gross leasable area stated in square
footage. Such tax increment funds have been and will be remitted to the HRA from the City of Columbia
Heights for payment to the redeveloper.
-64-
GENERAL FUND
' The Home Rule Charter of the City of Columbia Heights provides in Section 69, Subdivision (c): "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 monies not herein provided to paid (sic)
into any other fund."
-65-
CITY OF COLUMBIA IEIGIM, MINNESOTA
A
General Fund
Comparative Balance Sheet
As of December 31, 1991 and 1990
Assets
Cash and investments
Exhibit F -1
1991 1990
Cash and cash equivalents
$ 2,941,048
$ 2,265,657
Temporary investments
95,514
351,799
Total cash and investments
3,036,562
2,617,456
Receivables
2,259
115,943
Accounts
9,177
12,844
Deferred special assessments
591,889
619,148
Taxes
854,508
954,248
Unremitted
52,454
16,609
Delinquent
88,809
81,891
Interest
13,024
96,532
Due from other governmental units
83,964
97,831
Due from component units
11,665
9,406
Prepaid expense
59
1,162
Total assets
$ 3,887,603
$ 3,552,879
Liabilities and Fund Equity
Liabilities
Accounts payable
$ 77,596
$ 58,289
Contracts payable- retained percentage
168
3,200
Accrued salaries and withholdings payable
70,240
53,490
Due to other governmental units
2,259
115,943
Due to component units
3,885
3,911
Deferred revenue
700,360
719,415
Total liabilities
854,508
954,248
Fund equity
Fund balance
Reserved for redevelopment 95,366 -
Unreserved
Designated for subsequent years' expenditures 101,528 63,455
Designated for working capital 2,836,201 2,535,176
Total fund equity 3,033,095 2,598,631
Total liabilities and fund equity $ 3,887,603 $ 3,5522879
o$
Exhibit F-2
CUY OF COLUMBIA HEIGHTS, MINNESOTA
General Fund
Statement of Revenues, Expenditures, and
Changes in Fund Balance
'
Budget
(GAAP Basis) and Actual
Year Ended December 31, 1991
(with Comparative Actual Amounts for Year Faded December 31, 1990)
1991
1990
'
Variance
Favorable
'
Budget
Actual
(Unfavorable)
Actual
Revenues
Taxes
$ 2,233,207
$ 2,225,803
$ (7,404)
$ 2,067,469
'
Licenses and permits
144,110
164,945
20,835
147,587
Intergovernmental
3,017,328
3,040,675
23,347
3,085,929
Charges for services
399,120
340,184
(58,936)
231,463
Fines and forfeitures
129,200
116,386
(12,814)
123,505
Interest
158,000
127,887
(30,113)
286,085
Other revenues
Miscellaneous
24,300
141,831
117,531
39,609
Proceeds from sale of land
-
1,193
1,193
-
Total revenues
6,105,265
6,158,904
53,639
5,981,647
Expenditures
Current
General government
Council
194,617
196,352
(1,735)
157,966
Manager
231,432
210,599
20,833
221,877
Legal
122,050
156,964
(34,914)
120,424
Finance and elections
459,601
443,519
16,082
483,024
Assessing
102,020
99,993
2,027
99,890
Planning
15,646
15,331
315
14,166
'
General government buildings
172,149
162,624
9,525
332,280
Total general government
1,297,515
1,285,382
12,133
1,429,627
Public safety
Police /animal /civil defense
1,778,931
1,697,065
81,866
1,709,827
Fire
775,187
705,719
69,468
711,959
'
Inspections
145,962
135,431
10,531
129,757
Total public safety
2,700,080
2,538,215
161,865
2,551,543
Public works highways and streets
'
Engineering
250,347
236,855
13,492
270,338
Maintenance
634,040
654,278
2( 0,238)
492,304
Total public works
highways and streets
884,387
891,133
(6,746)
762,642
(continued)
-67-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
General Fund (continued)
Statement of Revenues, Expenditures, and Changes in Fund Balance
Budget (GAAP Basis) and Actual
Year Ended December 31, 1991
(with Comparative Actual Amounts for Year Ended December 31, 1990)
Expenditures (continued)
Current
Sanitation
Parks and recreation
Library
Contingencies
Total expenditures
Excess (deficiency) of
revenues over expenditures
Other financing sources (uses)
Operating transfers in
Operating transfers (out)
Total other financing
sources (uses)
Excess (deficiency) of
revenues and other financing
sources over expenditures
and other financing uses
Fund balance
Beginning of year
Residual equity transfers
End of year
Budget
Exhibit F-2
1991 1990
Variance
Favorable
Actual (Unfavorable) Actual
141,376
108,108
1,131,142
954,236
410,923
390,251
5,000
3,803
6,570,423 6,171,128
33,268
176,906
20,672
1,197
(465,158)
(12,224)
452,934
522,841
570,988
48,147
(85,000)
1( 24,300)
3( 9,300)
437,841
446,688
8,847
(27,317) 434,464 461,781
2,598,631 2,598,631 —
184,627
661,566
368,363
3,072
20,207
299,357
(2,480,719)
(2,181,362)
(2,161,155)
4,717,137
$ 2,571,314 $ 3,033,095 $ 461,781 $ 2,598,631
-68-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
General Fund
Statement of Revenues - Budget (GAAP Basis) and Actual
Year Ended December 31, 1991
(with Comparative Actual Amounts for Year Ended December 31, 1990)
Revenues
Taxes
Ad valorem
Penalties and interest
Total taxes
Licenses and permits
Licenses
Permits
Total licenses and permits
Intergovernmental
Federal grants
Civil defense
State grants
Local government aid
Property tax relief
Law officer training
Fire training
Police Relief Association
Fire Relief Association
Other
County aid
Street maintenance
County grant
School district
Total intergovernmental
Charges for services
General government
Library
Public safety
Public works
Parks and recreation
Total charges for services
Fines and forfeitures
Library
Public safety
Total fines and forfeitures
Other revenues
Interest earned on investments
Miscellaneous
Proceeds from sale of land
Other refunds
Total other revenues
Total revenues
1991
Variance
Favorable
Budget Actual (Unfavorable)
$ 2,226,207 $ 2,215,074 $ (11,133)
7,000 10,729 3,729
2,233,207 2,225,803 (7,404)
Exhibit F-3
1990
Actual
$ 2,060,695
6,774
2,067,469
80,110
92,364
12,254
85,307
64,000
72,581
8,581
62,280
144,110
164,945
20,835
147,587
4,185
3,697
(488)
4,108
1,888,568
1,885,919
(2,649)
2,074,028
917,862
917,861
(1)
804,276
8,000
7,959
(41)
9,200
-
1,915
1,915
-
109,000
121,694
12,694
112,488
64,000
56,427
(7,573)
59,058
-
16,094
16,094
53
18,060
18,060
-
18,060
-
11,049
11,049
4,658
7,653
-
(7,653)
-
3,017,328
3,040,675
23,347
3,08.5,929
31,490
31,893
403
35,379
4,200
5,629
1,429
4,339
88,480
94,001
5,521
82,150
127,700
56,332
(71,368)
55,198
147,250
152,329
5,079
54,397
399,120
340,184
(58,936)
231,463
6,500
8,684
2,184
7,253
122,700
107,702
1( 4,998)
116,252
129,200
116,386
(12,814)
123,505
158,000
127,887
(30,113)
286,085
24,300
141,831
117,531
38,880
-
1,193
1,193
-
-
-
-
729
182,300
270,911
88,611
325,694
$ 6,105,265
$ 6,158,904
$ 53,639
$ 5,981,647
.'
CITY OF COLUMBIA HEIGHTS, MINNESOTA
General Fund
Statement of Expenditures- Budget (GAAP Basis) and Actual
Year Ended December 31, 1991
(with Comparative Actual Amounts for Year Faded December 31, 1990)
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
Public works highways and streets
Engineering
Streets
Street lighting
Traffic signs /signals
Total public works
highways and streets
Sanitation
Parks and recreation
Library
Contingencies
Total expenditures
-70-
Supplies
Personal and
Budget Services Services
$ 194,617 $ 100,703 $ 95,649
231,432
183,384
24,415
122,050
-
156,964
548,099
284,087
277,028
424,733
332,665
57,408
34,868
15,801
3,142
102,020
43,913
56,080
15,646
-
15,331
172,149
9,815
137,798
749,416
402,194
269,759
1,297,515
686,281
546,787
1,743,014
1,525,573
138,354
775,187
641,111
56,167
145,962
118,809
16,622
25,037
10,502
9,257
10,880
-
10,523
2,700,080
2,295,995
230,923
250,347
154,835
66,906
474,354
240,892
214,591
100,649
314
78,810
59,037
27,798
28,394
884,387
423,839
388,701
141,376
33,138
74,970
1,131,142
603,614
278,236
410,923
250,403
116,661
5,000
-
3,803
$ 6,570,423 $ 4,293,270 $ 1,640,081
Exhibit F-4
1991 1990
Actual
Variance
Capital Favorable
Outlay Total (Unfavorable) Actual
$ -
$ 196,352
$ (1,735)
$ 157,966
2,800
210,599
20,833
221,877
-
156,964
3( 4,914)
120,424
2,800
563,915
(15,816)
500,267
23,673
413,746
10,987
405,405
10,830
29,773
5,095
77,619
-
99,993
2,027
99,890
-
15,331
315
14,166
15,011
162,624
9,525
332,280
49,514
721,467
27,949
929,360
52,314
1,285,382
12,133
1,429,627
2,856
1,666,783
76,231
1,690,382
8,441
705,719
69,468
711,959
-
135,431
10,531
129,757
-
19,759
5,278
11,506
-
10,523
357
7,939
11,297
2,538,215
161,865
2,551,543
15,114
236,855
13,492
270,338
60,514
515,997
(41,643)
361,767
-
79,124
21,525
78,833
2,965
59,157
(120)
51,704
78,593
891,133
(6,746)
762,642
-
108,108
33,268
184,627
72,386
954,236
176,906
661,566
23,187
390,251
20,672
368,363
-
3,803
1,197
3,072
$_237,777
$ 6,171,128
$ 399,295
$ 5,961,440
-71-
SPECIAL REVENUE FUNDS
Special Revenue Funds are used to account for the proceeds of specific revenue sources which finance
specified activities as required by law or administrative regulation.
Municipal State Aid Fund - maintained according to State Statute for maintenance and
construction of streets or municipal State aid systems.
Cable Television Fund - established to account for revenues and expenditures associated with
cable television franchise.
Paratransit Fund - established by agreement with the Minnesota Department of Transportation to
account for the receipt of State grants and rider fees and expenditures for service.
D.A.R.E. Program Fund - established in 1991 to account for revenues and expenditures of
D.A.R.E. (Drug Awareness) Program.
Recreation Contributed Projects Fund - established to monitor contributions for recreational
activities and related expenditures.
Contributed Projects Fund - established in 1991 to monitor contributions and related expenditures.
-72-
CITY OF COLUMBIA FIGHTS, MINNESOTA
Special Revenue Funds
Combining Balance Sheet
As of December 31, 1991
(with Comparative Totals as of December 31, 1990)
Liabilities
Accounts payable
Municipal
$ 4,114
$ 25,966
Contracts payable— retained percentage
State
Cable
—
Accrued salaries and withholdings payable
Aid
Television
Paratransit
Assets
—
—
—
Cash and investments
42,907
—
—
Cash and cash equivalents
$ —
$ 166,656
$ 16,212
Temporary investments
—
—
—
Total cash and investments
—
166,656
16,212
Receivables
Accounts
—
16,494
19,816
Interest
—
1,619
166
Due from other governmental units
55,142
1,758
595
Due from other funds
—
42,907
—
Total assets
$ 55,142
$ 229,434
$ 36,789
Liabilities and Fund Equity (Deficit)
Liabilities
Accounts payable
$ 22,983
$ 4,114
$ 25,966
Contracts payable— retained percentage
—
—
—
Accrued salaries and withholdings payable
86
53
—
Due to other governmental units
—
—
—
Due to other funds
42,907
—
—
Totalliabilities
65,976
4,167
25,966
Fund equity (deficit)
Fund balance (deficit)
Unreserved
Designated for subsequent
years' expenditures
2,860
482
—
Undesignated
1( 3,694)
224,785
10,823
Total fund equity (deficit)
1( 0,834)
225,267
10,823
Total liabilities and fund equity
$ 55,142
$ 229,434
$ 36,789
-73-
Exhibit Gl
Recreation
D.A.R. Contributed Contributed Totals
Program Projects Projects 1991 1990
$ 2,010
$ 42,748 $ 3,913 $ 231,539
$ -
-
- - -
49,436
2,010
42,748 3,913 231,539
49,436
-
- - 36,310
20,479
-
- - 1,785
5,839
263
- - 57,758
259,789
-
- - 42,907
207,836
$ 2,273
$ 42,748 $ 3,913 $ 370,299
$ 543,379
$ 550 $ 657 $ - $ 54,270 $ 15,179
- - - - 6,849
139 3,324
- 3,000
- - - 42,907 207,836
550 657 - 97,316 236,188
- - - 3,342
24,052
1,723 42,091 3,913 269,641
283,139
1,723 42,091 3,913 272,983
307,191
$ 2,273 $ 42,748 $ 3,913 $ 370,299
$ 543,379
-74-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Special Revenue Funds
Combining Statement of Revenues, Expenditures, and Changes in Fund Balance
Year Ended December 31, 1991
Revenues
Intergovernmental
Fees /program revenue
Interest
Otherrevenues
Miscellaneous
Contributions
Total revenues
Expenditures
Parks and recreation
Personal services
Supplies
Other services and charges
Capital outlay
Other expenditures
Total parks and recreation
Other
Personal services
Supplies
Other services and charges
Capital outlay
Total other
Total expenditures
Excess (deficiency) of
revenues over expenditures
Other financing sources (uses)
Operating transfers in
Operating transfers (out)
Total other financing sources (uses)
Excess (deficiency) of revenues and
other financing sources over expen-
ditures and other financing uses
Fund balance (deficit)
Beginning of year
Residual equity transfers
End of year
-75-
✓�
✓ �� 5
-
Municipal
550
ado
State
Cable
84,262
Aid
Television
Paratransit
$ 162,564
$ -
$ 46,430
-
68,227
16,135
-
15,902
1,634
-
26,758
-
162,564
110,887
64,199
12,184
499
-
96
550
-
48,418
10,612
84,262
63,705
14,052
-
124,403
25,713
84,262
124,403
25,713
84,262
38,161
85,174
(20,063)
35,480 - 5,000
123,855 69,788 (8,060)
88,375 69,788 (3,060)
(50,214) 15,386 (23,123)
39,380 209,881 33,946
$ 1( 0,834) $ 225,267 $ 10,823
Exhibit G2
0 j(�
�� 1
-
619,724
I d l el
Recreation
61,714
_
_
D.A.R.E.
Contributed
Contributed
Totals
_ -
Program
Projects
Projects
1991 _
1990
$ _
$ -
$ -
$ 208,994 $
789,393
_
-
-
84,362
429,653
_
-
-
17,536
17,303
_
-
-
26,758
6,061
2,552
60,605
1,400
64,557
37,632
2,552
60,605
1,400
402,207
1,280,042
1,723 20,620 1,400 (34,208) 191,222
- 23,984 - 307,191 142,282
- (2,513) 2,513 - (26,313)
$ 1,723 $ 42,091 $ 3,913 $ 272,983 $ 307,191
-76-
-
619,724
_ -
61,714
_
_
_ -
104,915
_
_
_ -
445
_
-
- -
66,934
_
_
_ -
853,732
_
=
- 12,683
25,940
1,787
21,227
- 23,660
19,931
542
7,738
- 151,572
120,136
-
11,020
- 88,777
158,853
2,329
39,985
- 276,692
324,860
2,329
39,985
- 276,692
1,178,592
223
20,620
1,400 125,515
101,450
1,500
-
- 41,980
137,484
_
-
- (201,703)
(47,712)
1,500
-
- (159,723)
89,772
1,723 20,620 1,400 (34,208) 191,222
- 23,984 - 307,191 142,282
- (2,513) 2,513 - (26,313)
$ 1,723 $ 42,091 $ 3,913 $ 272,983 $ 307,191
-76-
CI'T'Y OF COLUMBIA HEIGHTS, MINNESOTA
Municipal State Aid Street Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
Budget (GAAP Basis) and Actual
Year Ended December 31, 1991
(with Comparative Actual Amounts for Year Ended December 31, 1990)
Revenues
Intergovernmental
State of Minnesota
Maintenance
Construction
Other revenues
Miscellaneous
Total revenues
Expenditures
Maintenance
Personal services
Supplies
Other services and charges
Capital outlay
Construction
Personal services
Supplies
Other services and charges
Capital outlay
Total expenditures
Excess (deficiency) of
revenues over expenditures
Other financing sources (uses)
Operating transfers in
Operating transfers (out)
Maintenance
Construction
Total other financing sources (uses)
Excess (deficiency) of revenues and
other financing sources over expert
ditures and other financing uses
Fund balance (deficit)
Beginning of year
End of year
Exhibit G3
1991 1990
Variance
Favorable
Budget Actual (Unfavorable) Actual
$ 120,000
$ 130,713
$ 10,713
$ 88,800
469,500
31,851
(437,649)
363,634
-
-
-
606
589,500
162,564
(426,936)
453,040
13,482
10,514
2,968
7,293
3,100
96
3,004
6,534
3,030
9,356
(6,326)
26,487
74,500
59,181
15,319
7,819
2,450
1,670
780
18,647
-
-
-
303
30,050
39,062
(9,012)
5,292
414,500
4,524
409,976
136,977
541,112
124,403
416,709
209,352
48,388
38,161
(10,227)
243,688
-
35,480
35,480
-
-
(104,556)
(104,556)
-
2( 2,500)
1( 9,299)
3,201
-
2( 2,500) 8( 8,37 665
25,888 (50,214) (76,102) 243,688
39,380 39,380 - (204,308)
$ 65,268 $ 1( 0,834) $ (76,102 $ 39,380
-77-
Exhibit G-4
CITY OF COLUMBIA HEIGHTS, MIP4NESOTA
Cable Television Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
Budget (GAAP Basis) and Actual
Year Ended December 31, 1991
(with Comparative Actual Amounts for Year Ended December 31, 1990)
-78-
1991
1990
Variance
Favorable
Budget
Actual
(Unfavorable)
Actual
Revenues
Franchise fees
$ 66,000
$ 68,227
$ 2,227
$ 60,361
Interest
8,500
15,902
7,402
15,404
Other revenues
Miscellaneous
-
26,758
26,758
5,380
Total revenues
74,500
110,887
36,387
81,145
Expenditures
Personal services
882
499
383
-
Supplies
2,755
550
2,205
375
Other services and charges
37,185
10,612
26,573
58,004
Capital outlay
21,400
14,052
7,348
774
Total expenditures
62,222
25,713
36,509
59,153
Excess of revenues over expenditures
12,278
85,174
72,896
21,992
Other financing uses
Operating transfers (out)
69,788
6( 9,788)
-
41,432
Excess (deficiency) of
revenues over expenditures
and other financing uses
(57,510)
15,386
72,896
(19,440)
Fund balance
Beginning of year
209,881
209,881
-
229,321
End of year
$ 152,371
$ 225,267
$ 72,896
$ 209,881
-78-
CITY OF COLUNIBIAHF,IGHTS, MWNESOTA
Paratransit Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
Budget (GAAP Basis) and Actual
Year Ended December 31, 1991
(with Comparative Actual Amounts for Year Ended December 31, 1990)
Revenues
Intergovernmental
Paratransit fees
Interest
Total revenues
Expenditures
Supplies
Other services and charges
Total expenditures
Excess (deficiency) of
revenues over expenditures
Other financing sources (uses)
Operating transfers in
Operating transfers (out)
Total other financing
sources (uses)
Excess (deficiency) of
revenues and other financing
sources over expenditures
and other financing uses
Fund balance (deficit)
Beginning of year
End of year
Exhibit G-5
1991 1990
Budget Actual
$ 24,500 $ 46,430
9,500 16,135
- 1,634
34,000 64,199
500 -
80,947 84,262
81,447 84,262
(47,447) (20,063)
5,000 5,000
6,827 8,060
1,827 (3,060)
(49,274) (23,123)
33,946 33,946
$ 1( 5,328) $ 10,823
-79-
Variance
6,894
Favorable
5,000
(Unfavorable)
Actual
$ 21,930
$ 23,415
6,635
11,158
1,634
1,899
30,199
36,472
500 166
(3,315) 29,412
(2,815) 29,578
27,384
6,894
-
5,000
(1,233)
(6,280)
1,233
(1,280)
26,151
5,614
-
28,332
$ 26,151
$ 33,946
CITY OF COLUMBIA FIGHTS, MINNESOTA
Recreation Contributed Projects
Comparative Statement of Revenues, Expenditures,
and Changes in Fund Balance
Years Ended December 31, 1991 and 1990
Revenues
Contributions
Expenditures
Supplies
Other services and charges
Capital outlay
Total expenditures
Excess of revenues over expenditures
Fund balance
Beginning of year
Residual equity transfers
End of year
-80-
Exhibit G6
1991 1990
$ 60,605 $ 30,148
21,227 12,553
7,738 941
20,620 3,371
23,984 17,634
(2,513) 2,979
$ 42,091 $ 23,984
DEBT SERVICE FUNDS
' 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.
rSpecial Assessment Refunding Bonds of 1987 Fund - used to account for revenue and
expenditures associated with Special Assessment Bonds of 1987.
rTax Increment Bonds Funds - a separate fund is used to account for each separate Tax Increment
Bond Issue revenue and expenditures.
-81-
CITY OF COLUMBIA HEIGHTS, MQNNESOTA
Debt Service Funds
Combining Balance Sheet
As of December 31, 1991
(with Comparative Totals as of December 31, 1990)
Tax
Special
Increment
Increment
Assessment
Tax
Refunding
Increment
Bonds of 1987
Bonds
Assets
Cash and investments
Temporary investments
$ 1,196,770
$ 1,814,029
Deposited with fiscal agents
—
57,943
Total cash and investments
1,196,770
1,871,972
Cash and investments in escrow
—
—
Receivables
Special assessments
Tax
Tax
Increment
Increment
Bonds of 1984
Bonds of 1985
Delinquent — — — —
Deferred 89,703 — — —
Taxes
Unremitted — 32,667 — —
Delinquent — 323,052 — —
Interest 7,581 9,379 — —
Total assets $ 1,294,054 $ 2,237,070 $ — $ —
Liabilities and Fund Equity
Liabilities
Deferred revenue
Property taxes— delinquent $ — $ 323,052 $ — $ —
Special assessments 89,703 — — —
Accrued interest payable — 57,943 — —
Total liabilities 89,703 380,995 — —
Fund equity
Fund balance
Designated for debt service 1,204,351 1,856,075 — —
Total liabilities
and fund equity $ 1,294,054 $ 2,237,070 $ — $ —
-82-
Exhibit 11-1
Tax
Tax
Capital
Tax
Increment
Increment
Appreciation
Increment
Refunding
Taxable
Bonds
Refunding Totals
Bonds of 1987
Bonds of 1987
of 1990
Bonds of 1991 1991 1990
$ — $ 3,010,799 $ 3,296,922
— — — 57,943 57,943
— — — — 3,068,742 3,354,865
— 6,543,268 6,543,268 1,800,000
— — — — 109,928
— 89,703 591,415
— — — 32,667 3,847
— — — — 323,052 219,256
— — 16,960 74,933
$ 6,543,268 $ 10,074,392 $ 6,154,244
$ — $ 323,052 $ 219,256
— 89,703 701,343
— 57,943 57,943
— — — 470,698 978,542
6,543,268 9,603,694 5,175,702
$ 6,543,268 $ 10,074,392 $ 6,154,244
-83-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Debt Service Funds
Combining Statement of Revenues, Expenditures, and Changes in Fund Balance
Year Ended December 31, 1991
(with Comparative Totals for Year Ended December 31, 1990)
-84-
Special
Assessment
Tax
Tax
Tax
Refunding
Increment
Increment
Increment
Bonds of 1987
Bonds
Bonds of 1984
Bonds of 1985
Revenues
Tax increments
$ —
$ 1,248,680
$ —
$ —
Special assessments
277,171
—
—
—
Intergovernmental
—
—
—
—
Interest
74,442
92,101
—
—
Other revenues
—
4,276
—
—
Total revenues
351,613
1,345,057
—
—
Expenditures
Debt service
Principal retirement
275,000
—
125,000
1,850,000
Interest and fiscal charges
83,127
—
46,353
80,420
Miscellaneous
—
72,015
—
—
Total expenditures
358,127
72,015
171,353
1,930,420
Excess (deficiency) of
revenues over expenditures (6,514)
1,273,042
(171,353)
(1,930,420)
Other financing sources (uses)
Bond proceeds
—
—
—
—
Operating transfers in
—
—
171,353
1,930,420
Operating transfers (out)
—
(1,581,804)
—
—
Total other financing
sources (uses)
—
(1,581,804)
171,353
1,930,420
Excess (deficiency) of
revenues and other
financing sources over
expenditures and other
financing uses
(6,514)
(308,762)
—
—
Fund balance
Beginning of year
1,210,865
2,164,837
—
—
Residual equity transfers
—
—
—
—
End of year
$ 1,204,351
$ 1,856,075
-84-
Exhibit H-2
Tax
Tax
Capital
Tax
Increment
Increment
Appreciation
Increment
Refunding
Taxable
Bonds
Refunding
Totals
Bonds of 1987
Bonds of 1987
of 1990
Bonds of 1991
1991
1990
$ -
$ -
$ -
$ -
$ 1,248,680
$ 1,084,158
-
-
-
-
277,171
463,410
-
-
-
-
-
5,236
62,433
-
-
21,587
250,563
592,472
-
-
-
-
4,276
31,792
62,433
-
-
21,587
1,780,690
2,177,068
525,000
120,000
-
-
2,895,000
7,705,000
604,093
93,063
308
148,319
1,055,683
1,524,616
-
-
-
-
72,015
94,134
1,129,093
213,063
308
148,319
4,022,698
9,323,750
(1,066,660)
(213,063)
(308)
(126,732)
(2,242,008)
(7,146,682)
-
-
-
6,670,000
6,670,000
2,363,724
1,066,660
213,063
308
-
3,381,804
7,653,324
(1,800,000)
-
-
-
(3,381,804)
(10,363,902)
(733,340)
213,063
308
6,670,000
6,670,000
(346,854)
(1,800,000) - - 6,543,268 4,427,992 (7,493,536)
1,800,000 - - - 5,175,702 12,665,931
- - - - - 3,307
$ - $ - $ - $ 6,543,268 $ 9,603,694 $ 5,175,702
-85-
CITY OF COLUMBIA HEIGHTS, MDZ;ESOTA
Special Assessment Refunding Bonds of 1987 Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
Budget (GAAP Basis) and Actual
Year Ended December 31, 1991
(with Comparative Actual Amounts for Year Faded December 31, 1990)
Revenues
Special assessments
Interest
Other revenues
Miscellaneous
Total revenues
Expenditures
Debt service
Principal retirement
Interest and fiscal charges
Miscellaneous
Total expenditures
Excess (deficiency) of
revenues over expenditures
Other financing sources (uses)
Operating transfers in
Operating transfers (out)
Total other financing
sources (uses)
Excess (deficiency) of
revenues and other financing
sources over expenditures
and other financing uses
Fund balance (deficit)
Beginning of year
End of year
Exhibit 1-1-3
(359,247)
359,247
359,247
(6,514) 352,733 116,315
(359,247) -
- (387,785)
(359,247) (387,785)
(6,514) (6,514) (271,470)
1,210,865 1,210,865 — 1,482,335
$ 1,210,865 $ 1,204,351 $ (6,514) $ 1,210,865
-86-
1991
1990
Variance
Favorable
Budget
Actual
(Unfavorable)
Actual
$ —
$ 277,171
$ 277,171
$ 368,044
—
74,442
74,442
93,216
—
—
—
23,302
—
351,613
351,613
484,562
275,000
275,000
—
265,000
84,247
83,127
1,120
98,402
—
—
—
4,845
359,247
358,127
1,120
368,247
(359,247)
359,247
359,247
(6,514) 352,733 116,315
(359,247) -
- (387,785)
(359,247) (387,785)
(6,514) (6,514) (271,470)
1,210,865 1,210,865 — 1,482,335
$ 1,210,865 $ 1,204,351 $ (6,514) $ 1,210,865
-86-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Tax Increment Bonds Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
Budget (GAAP Basis) and Actual
Year Ended December 31, 1991
(with Comparative Actual Amounts for Year Ended December 31, 1990)
Revenues
Tax increments
Special assessments
Intergovernmental
Interest
Other revenues
Proceeds from sales of land
Miscellaneous
Total revenues
Expenditures
Debt service
Principal retirement
Interest and fiscal charges
Miscellaneous
Redevelopment tax increment
Multi -use redevelopment plan
Total expenditures
Excess (deficiency) of
revenues over expenditures
Other financing sources (uses)
Operating transfers in
Operating transfers (out)
Total other financing
sources (uses)
Excess (deficiency) of
revenues and other financing
sources over expenditures
and other financing uses
Fund balance
Beginning of year
Residual equity transfers
End of year
Budget
$ 1,060,000
95,366
100,000
1,255,366
1991
$ 1,248,680
92,101
4,276
60,000 60,000
— 12,015
6000 72,015
1,195,366 1,273,042
(1,589,367) (1,581,804)
(1,589,367) (1,581,804)
(394,001) (308,762)
Variance
Favorable
(Unfavorable)
$ 188,680
(95,366)
(7,899)
4,276
89,691
12,015
12,015
77,676
7,563
7,563
85,239
Exhibit H-4
Actual
$ 1,084,158
95,366
5,236
128,860
6,010
2,480
1,322,110
7,275,000
447,213
60,000
29,289
7,811,502
(6,489,392)
7,063,500
(576,741)
6,486,759
(2,633)
2,164,837 2,164,837 — 2,164,163
— — — 3,307
$ 1,770,836 $ 1,856,075 $ 85,239 $ 2,164,837
-87-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Tax Increment Bonds of 1984 Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
Budget (GAAP Basis) and Actual
Year Ended December 31, 1991
(with Comparative Actual Amounts for Year Ended December 31, 1990)
Expenditures
Debt service
Principal retirement
Interest and fiscal charges
Total expenditures
Excess (deficiency) of
revenues over expenditures
Other financing sources
Operating transfers in
Excess of revenues and
other financing sources
over expenditures
Fund balance
Beginning of year
End of year
1991
Budget Actual
Exhibit 1-1-5
1990
Variance
Favorable
(Unfavorable) Actual
$ 125,000
$ 125,000
$ —
$ 115,000
47,500
46,353
1,147
57,117
172,500
171,353
1,147
172,117
(172,500)
(171,353)
1,147
(172,117)
172,500
171,353
(1,147)
172,117
::
CITY OF COLUMBIA HEIGHTS, NM NESOTA
Tax Increment Bonds of 1985 Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
Budget (GAAP Basis) and Actual
Year Ended December 31, 1991
(with Comparative Actual Amounts for Year Ended December 31, 1990)
Expenditures
Debt service
Principal retirement
Interest and fiscal charges
Total expenditures
Excess (deficiency) of
revenues over expenditures
Other financing sources
Operating transfers in
Excess of revenues and
other financing sources
over expenditures
Fund balance
Beginning of year
End of year
Exhibit H-6
1991 1990
Variance
Favorable
Budget Actual (Unfavorable) Actual
$ 1,850,000 $ 1,850,000 $ — $ 50,000
83,420 80,420 3,000 163,496
3,000 213,496
(1,933,420)
(1,930,420)
3,000
(213,496)
1,933,420
1,930,420
(3,000)
213,496
-89-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Tax Increment Refunding Bonds of 1987 Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
Budget (GAAP Basis) and Actual
Year Ended December 31, 1991
(with Comparative Actual Amounts for Year Faded December 31, 1990)
Revenues
Interest from escrow
Expenditures
Debt service
Principal retirement
Interest and fiscal charges
Total expenditures
Excess (deficiency) of
revenues over expenditures
Other financing sources (uses)
Operating transfers in
Operating transfers (out)
Total other financing
sources (uses)
Excess (deficiency) of
revenues and other financing
sources over expenditures
and other financing uses
Fund balance
Beginning of year
End of year
Exhibit 1-1-7
1991 1990
Variance
Favorable
Budget Actual (Unfavorable)
$ 62,433 $ 62,433 $ —
Actual
$ 370,396
525,000 525,000 — —
605,280 604,093 1,187 619,465
1,130,280 1,129,093 1,187 619,465
(1,067,847) (1,066,660)
1,067,847 1,066,660
(1,800,000) (1,800,000)
(732,153) (733,340)
1,187 (249,069)
(1,187) 93,136
(7,063,500)
(1,187) (6,970,364)
(1,800,000) (1,800,000) — (7,219,433)
1,800,000 1,800,000 — 9,019,433
$ — $ — $ — $ 1,800,000
.1
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Tax Increment Taxable Bonds of 1987 Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
Budget (GAAP Basis) and Actual
Year Ended December 31, 1991
(with Comparative Actual Amounts for Year Ended December 31, 1990)
Expenditures
Debt service
Principal retirement
Interest and fiscal charges
Total expenditures
Excess (deficiency) of
revenues over expenditures
Other financing sources
Operating transfers in
Excess of revenues and
other financing sources
over expenditures
Fund balance
Beginning of year
End of year
1991
Variance
Favorable
Budget Actual (Unfavorable)
Exhibit H-8
1990
01".
$ 120,000
$ 120,000
$ —
$ —
94,100
93,063
1,037
97,992
214,100
213,063
1,037
97,992
(214,100)
(213,063)
1,037
(97,992)
214,100
213,063
(1,037)
97,992
-91-
Exhibit H-9
CITY OF COLUMBIA HEIGHTS, MINNESOTA ,
Tax Increment Capital Appreciation Bonds of 1990 Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance ,
Budget (GAAP Basis) and Actual
Year Ended December 31, 1991
(with Comparative Actual Amounts for Year Ended December 31, 1990)
1991
1990
Variance
Favorable
Budget
Actual
(Unfavorable)
Actual
'
Expenditures
Debt service
,
Interest and fiscal charges
$ 1,500
$ 308
$ 1,192
$ 40,931
Excess (deficiency) of
'
revenues over expenditures
(1,500)
(308)
1,192
(40,931)
Other financing sources (uses)
Bond proceeds
—
—
—
2,363,724
Operating transfers in
1,500
308
(1,192)
13,083
Operating transfers (out)
—
—
—
(2,335,876)
Total other financing
sources (uses)
1,500
308
(1,192)
40,931
Excess of revenues and
t
other financing sources
over expenditures and
other financing uses
—
—
—
—
'
Fund balance
Beginning of
year
End of year
$
$
$
$
r
-92-
'
1 CAPITAL PROJECT FUNDS
' 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, etc.
' Capital Improvement Fund 401 - used to account for Capital Project Funds whereby funding is
prohibited by a number of internal and external services.
Water Surface Management Fund 403 - used to account for revenue and expenditures associated
with storm sewers and other surface water management.
' Senior Housing Fund 404 - used to build Parkview Villa South addition for senior housing.
Downtown Land Acquisition Fund 405 - used for development of the downtown area of the City.
Capital Improvement Fund 408 - used for projects involving State aid streets.
Capital Improvement General Government Buildings Fund 411 - used to account for improve-
ments to municipal buildings - library, municipal garage, and City Hall.
Capital Improvement Parks Fund 412 - used to account for capital improvements in City parks.
Huset Park Hazardous Cleanup Fund 413 - used to account for expenditures associated with
' reporting of possible hazardous waste dumping.
Capital Improvement Projects Fund 415 - used to account for projects that will be fully assessed
to affected properties.
Capital Improvement Replacement Fund 431 - used to fund replacement of fixed assets and
' infrastructure as needed.
-93-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Capital Project Funds
Combining Balance Sheet
As of December 31, 1991
(with Comparative Totals as of December 31, 1990)
Assets
Temporary investments
Receivables
Accounts
Special assessments
Unremitted
Delinquent
Deferred
Interest
Due from other governmental units
Due from other funds
Total assets
Liabilities and Fund
Equity (Deficit)
Liabilities
Accounts payable
Contracts payable
- retained percentage
Accrued salaries and
withholdings payable
Due to other funds
Due to component units
Deferred revenue
Total liabilities
Fund equity (deficit)
Fund balance (deficit)
Unreserved
Designated for subsequent
years' expenditures
Undesignated
Total fund
equity (deficit)
Total liabilities
and fund equity
- 159 8,362 632 -
147,438 - - - -
$ 147,438 $ 22,.534 $ 383,525 $ 83,837 $ 19,876
$ 14,816 $ - $ - $ 5,340 $
13,983 - - -
486 - - -
197,15.5 - - -
- - 2,418 -
226,440 - 2,418 5,340
- 381,107 - -
(79,002) 22,534 - 78,497 19,876
(79,002) 22,534 381,107 78,497 19,876
$ 147,438 $ 22,534 $ 383,525 $ 83,837 $ 19,876
-94-
Water
Downtown
Capital
Surface
Land
Capital
Improve-
Manage-
Senior
Aquisi-
Improve-
ment
ment
Housing
tion
ment
Fund 401
Fund 403
Fund 404
Fund 405
Fund 408
$ -
$ 22,375
$ 375,163
$ 83,205
$ 19,876
- 159 8,362 632 -
147,438 - - - -
$ 147,438 $ 22,.534 $ 383,525 $ 83,837 $ 19,876
$ 14,816 $ - $ - $ 5,340 $
13,983 - - -
486 - - -
197,15.5 - - -
- - 2,418 -
226,440 - 2,418 5,340
- 381,107 - -
(79,002) 22,534 - 78,497 19,876
(79,002) 22,534 381,107 78,497 19,876
$ 147,438 $ 22,534 $ 383,525 $ 83,837 $ 19,876
-94-
Exhibit 1-1
Capital
Improve-
Capital
ment
Capital
Huset
Capital
Improve -
Govern-
Improve-
Park
Improve-
ment
ment
ment
Hazardous
ment
Replace -
Building
Parks
Cleanup
Projects
ment
Totals
Fund 411
Fund 412
Fund 413
Fund 415
Fund 431
1991
1990
$ 264,815
$ 336,190
$ 33,302
$ -
$ 2,496,347
$ 3,631,273
$ 5,544,402
-
-
-
4,308
-
4,308
-
-
-
-
1,591
-
1,591
-
-
-
-
77,005
-
77,005
-
-
-
-
475,730
-
475,730
-
1,900
2,531
241
263
18,709
32,797
35,208
-
-
-
-
-
147,438
-
-
-
-
-
199,186
199,186
81,315
$ 266,715
$ 338,721
$ 33,543
$ 558,897
$ 2,714,242
$ 4,569,328
$ 5,660,925
1,366
- 2,031
- 554,326
- 557,723
$ 20,156 $ 19,649
15,349 19,546
- 486 27
- 199,186 81,315
- 2,418 231,783
- 554,326 -
- 791,921 352,320
- - - - 147,632 528,739 2,420,650
266,715 338,721 33,543 1,174 2,566,610 3,248,668 2,887,955
266,715 338,721 33,543 1,174 2,714,242 3,777,407 5,308,605
$ 266,71.5 $ 338,721 $ 33,543 $ 558,897 $ 2,714,242 $ 4,569,328 $ 5,660,925
-95-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Capital Project Funds
Combining Statement of Revenues, Expenditures, and Changes in Fund Balance
Year Ended December 31, 1991
(with Comparative Totals for Year Ended December 31, 1990)
Water
Capital Surface
Improve— Manage-
ment ment
Revenues
Special assessments $ — $ — $
Interest — 1,563
Other revenues
Miscellaneous 453,738 —
Private grants — —
Contributions 3,200 — _
Total revenues 456,938 1,563
Expenditures
Other project expenditures
530,517
Capital
Excess (deficiency)
Aquisi—
of revenues over
Housing
expenditures
(73,579)
Other financing sources (uses)
Fund 405
Operating transfers in
100,344
Operating transfers (out)
—
Total other financing
sources (uses)
100,344
6,208
Excess (deficiency) of
revenues and other
financing sources
82,105
over expenditures and
Downtown
1,762,657 14,735
1,563 (1,680,552) (8,527) —
13,945
13,945
other financing uses 26,765 1,563 (1,680,552) (8,527) 13,945
Fund balance (deficit)
Beginning of year (105,767) 20,971 2,061,659 87,024 5,931
Residual equity transfers — — — — —
End of year $ 7( 9,002) $__22 534 $ 381,107 $ 78,497 $ 19,876
e
Land
Capital
Senior
Aquisi—
Improvt�-
Housing
tion
ment
Fund 404
Fund 405
Fund 408
82,105
6,208
—
—
82,105
6,208
1,762,657 14,735
1,563 (1,680,552) (8,527) —
13,945
13,945
other financing uses 26,765 1,563 (1,680,552) (8,527) 13,945
Fund balance (deficit)
Beginning of year (105,767) 20,971 2,061,659 87,024 5,931
Residual equity transfers — — — — —
End of year $ 7( 9,002) $__22 534 $ 381,107 $ 78,497 $ 19,876
e
Exhibit I-2
Capital
Improve-
Capital
ment
Capital
Huset
Capital
Improve -
Govern-
Improve-
Park
Improve-
ment
ment
ment
Hazardous
ment
Replace -
Building
Parks
Cleanup
Projects
ment
Totals
Fund 411
Fund 412
Fund 413
Fund 415
Fund 431
1991
1990
$ -
$ -
$ -
$ 181,373
$ -
$ 181,373 $
-
18,663
24,848
2,360
2,579
183,713
322,039
104,342
-
-
-
58,940
-
512,678
440,344
-
-
-
-
-
-
20,971
-
-
-
-
-
3,200
-
18,663
24,848
2,360
242,892
183,713
1,019,290
565,657
4,925
19,681
862
193,835
75,152
2,602,364
1,395,585
13,738 5,167 1,498 49,057 108,561 (1,583,074) (829,928)
- - - - 86,499 200,788 5,964,299
14( 8,912) - (148,912 (316,853)
148,912 86,499 51,876 5,647,446
13,738 5,167 1,498 (99,855) 195,060 (1,531,198) 4,817,518
252,977 333,554 32,045 101,029 2,519,182 5,308,605 547,170
- - - - - - (56,083)
$ 266,715 $ 338,721 $ 33,543 $ 1,174 $ 2,714,242 $ 3,777,407 $ 5,308,605
-97-
IENTERPRISE FUNDS
' 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 Type category, and as such are accounted
for on the accrual basis of accounting. Revenue in the Enterprise Funds is recognized when it is earned
and 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 revenue earned, expenses incurred, and /or net income is appropriate for capital
' maintenance, public policy, management control, accountability, or other purposes.
Water Utility Fund - used to account for revenue and expenses associated with water services to
area residents.
Sewer Utility Fund - used to account for revenue and expenses associated with sewer disposal
' within the City.
Refuse Utility Fund - used to account for revenue and expenses associated with organized
' collection of refuse and recycling in the City.
Liquor Fund - used to account for revenue and expenses associated with the operation of two off-
sale liquor stores.
M
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Enterprise Funds
Combining Balance Sheet
As of December 31, 1991
(with Comparative Totals as of December 31, 1990)
Assets
Current assets
Cash and investments (deficit)
Cash and cash equivalents
Temporary investments
Total cash and investments
Receivables
Accounts
Interest
Due from other governmental units, current portion
Prepaid expense
Inventory, at cost
Total current assets
Longterm assets
Due from other governmental units,
net of current portion
Fixed assets
Land
Buildings
Improvements other than buildings
Machinery and equipment
Less accumulated depreciation
Net fixed assets
Total assets
Liabilities and Fund Equity
Current liabilities
Accounts payable
Accrued salaries and withholdings payable
Due to other governmental units
Total current liabilities
Fund equity
Contributed capital
Property owners /customers
Federal
Total contributed capital
Retained earnings
Reserved for capital replacement /construction
Unreserved
Total retained earnings
Total fund equity
Total liabilities and fund equity
Water Sewer
$ 25,392
$ (43,674)
693,352
2,046,644
718,744
2,002,970
166,585
175,992
5,374
15,195
15,648
- 56,821
2,535 -
893,238 2,266,626
156,434
45,223
36,586
233,236
45,690
2,661,821
3,007,791
242,580
366,685
3,182,860 3,456,752
1,489,016 1,817,165
1,693,844 1,639,587
$ 2,587,082 $ 4,062,647
$ 53,846 $ 13,435
15,008 14,205
75,690 27,640
430,102
746,007
453,000
-
883,102
746,007
679,674
2,370,028
948,616
918,972
1,628,290
3,289,000
2,511,392
4,035,007
$ 2,587,082 $ 4,062,647
Exhibit J-1
Totals
Refuse Liquor 1991 1990
$ 106,672
$ 278,765
$ 367,155
$ 156,138
11111
302,754
3,043,861
2,900,000
107,783
581,519
3,411,016
3,056,138
338,780
-
681,357
652,176
832
3,670
25,071
109,532
49,457
773
65,878
100,545
-
-
56,821
51,642
-
485,445
487,980
443,211
496,852
1,071,407
4,728,123
4,413,244
156,434 172,874
-
13,051
94,860
94,860
-
183,522
462,448
462,448
2,890
100,093
5,772,595
5,645,177
615
201,925
811,805
723,377
3,505
498,591
7,141,708
6,925,862
1,458
222,821
3,530,460
3,310,771
2,047
275,770
3,611,248
3,615,091
$ 498,899 $ 1,347,177 $ 8,495,805 $ 8,201,209
$ 28,526 $ 175,946 $ 271,753 $ 221,906
145 28,018 57,376 52,256
- 42,740 49,576 52,829
28,671 246,704 378,705 326,991
1,176,109 1,241,338
- - 453,000
453,000
- - 1,629,109
1,694,338
- - 3,049,702
2,955,000
470,228 1,100,473 3,438,289
3,224,880
470,228 1,100,473 6,487,991
6,179,880
470,228 1,100,473 8,117,100
7,874,218
$ 498,899 $ 1,347,177 $ 8,495,80.5 $ 8,201,209
-100-
CiIY OF COLUMBIA HE1GI TI S, MINNESOTA
Enterprise Funds
Combining Statement of Revenues, Expenses, and Changes in Retained Earnings
Year Ended December 31, 1991
(with Comparative Totals for Year Ended December 31, 1990)
Retained earnings
Beginning of year 1,542,149 3,361,635
End of year $ 1,628,290 $_1,289 000
-101-
Water
Sewer
Operating revenues
Charges for services
Customer service
$ 5,236
$ -
Penalties
25,043
-
Sewer service charges
-
774,047
Refuse service charge
-
-
Charges for sales
Water
773,324
-
Meter
4,624
-
Liquor
-
-
Beer
-
-
Wine
-
-
Other
-
-
Intergovernmental
-
-
Total operating revenues
808,227
774,047
Operating expenses
Cost of sales and services
386,409
641,976
Distribution
287,971
216,618
Administration
7,124
6,988
Collection and disposal
-
-
Recycling
-
-
Hazardous waste
-
-
Cost of goods sold
-
-
Operating expense
-
-
Depreciation
76,933
132,472
Total operating expenses
758,437
998,054
Operating income (loss)
49,790
(224,007)
Nonoperating revenues (expense)
Interest income
52,770
156,438
Miscellaneous revenue
1,293
-
Miscellaneous expense
(127)
(127)
Total nonoperating revenues (expense)
53,936
156,311
Income (loss) before operating transfers
103,726
(67,696)
Operating transfers in
133,095
84,183
Operating transfers (out)
176,974
1( 28,057)
Total operating transfers
43,879
(43,874)
Net income (loss)
59,847
(111,570)
Credit for depreciation on contributed assets
26,294
38,935
Retained earnings
Beginning of year 1,542,149 3,361,635
End of year $ 1,628,290 $_1,289 000
-101-
Exhibit J--2
' Totals
Refuse Liquor 1991 1990
' $
$
$ 5,236
$ 7,814
_
_
25,043
21,130
-
-
774,047
692,697
1,523,154
-
1,523,154
1,456,042
-
-
773,324
723,219
-
-
4,624
4,412
'
1,372,340
1,372,340
1,285,812
_
2,373,551
2,373,551
2,017,499
-
409,671
409,671
404,806
-
633,781
633,781
520,870
50,458
50,458
103,465
1,573,612
4,789,343
7,945,229
7,237,766
' -
-
1,028,385
991,674
-
-
504,589
461,307
12,552
-
26,664
30,775
1,122,048
1,122,048
1,258,272
305,061
-
305,061
22,346
2,159
-
2,159
23
3,910,181
3,910,181
3,490,170
451,418
451,418
446,017
351
33,025
242,781
184,456
1,442,171
4,394,624
7,593,286
6,885,040
131,441
394,719
351,943
352,726
8,173
36,038
253,419
332,422
25
8,162
9,480
5,783
-
1,564
(1,818)
(2,655)
8,198
42,636
261,081
335,550
139,639
437,355
613,024
688,276
217,278 2,955,000
67,95 2( 14,432) (587,420) _ (4,258,860)
67,95 214,432 370,142 (1,303,860)
71,682 222,923 242,882 (615,584)
65,229 65,229
398,546 877,550 6,179,880 6,730,235
$ 470,228 $ 1,100,473 $ 6,487,991 $ 6,179,880_
1 -102-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Enterprise Funds
Combining Statement of Cash Flows
Year Ended December 31, 1991
(with Comparative Totals for Year Ended December 31, 1990)
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 (used) 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
Disposition of fixed assets
Net cash used by capital and
related financing activities
Cash flows from investing activities
Net change in investments
Interest received on investments
Net cash provided (used) by investing activities
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents (deficit)
Beginning of year
End of year
-103-
$ 797,160 $ 806,405
(486,610) (763,427)
(200,355) (127,916)
1,293 —
(127) (127
111,361 (85,065)
(43,879) (43,874)
(124,393) (57,310)
(124,393) (57,310)
(93,351) (46,644)
(85,881) (30,603)
111,273 1( 3,071)
$ 25,392 $ 4( 3,674)
Refuse Liquor
Exhibit J-3
Totals
1991 1990
$ 1,573,874 $ 4,788,924 $ 7,966,363 $ 7,168,929
(1,411,825)
(4,068,648)
(6,730,510)
(6,096,764)
(1,500)
(287,666)
(617,437)
(569,456)
25
8,162
9,480
5,783
—
(1,564)
(1,818)
(2,655)
160,574
439,208
626,078
505,837
(67,957)
(214,432)
(370,142)
(1,303,860)
—
(57,235)
(238,938)
(447,178)
—
—
—
5,240
—
(57,235)
(238,938)
(441,938)
(1,112)
(2,754)
(143,861)
700,000
9,285
61,924
337,880
334,157
8,173
59,170
194,019
1,034,157
100,790
226,711
211,017
(205,804)
5,882
52,054
156,138
361,942
$ 106,672
$ 278,765
$ 367,155
$ 156,138
(continued)
-104-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Enterprise Funds (continued)
Combining Statement of Cash Flows
Year Ended December 31, 1991
(with Comparative Totals for Year Ended December 31, 1990)
Reconciliation of Operating Income (Loss) to
Net Cash Provided (Used) by Operating Activities
Operating income (loss)
Adjustments to reconcile operating (loss) to net
cash provided (used) by operating activities
Miscellaneous revenue
Miscellaneous expense
Depreciation expense
Changes in assets and liabilities
(Increase) decrease in accounts receivable
(Increase) decrease in due from other governmental units
(Increase) in prepaid expenses
(Increase) in inventory, at cost
Increase (decrease) in accounts payable
Increase in accrued salaries and withholdings payable
Increase (decrease) in due to other governmental units
Total adjustments
Net cash provided (used) by operating activities
-105-
1
u
Water Sewer
i
$ 49,790 $ (224,007)
1,293 —
(127) (127)
76,933 132,472
(11,067) (4,488)
—
37,638
—
(5,179)
(188)
—
(4,266)
(21,405)
(556)
31
(451)
—
61,571
138,942
$ 111,361
$ (85,065)
r
1
Exhibit 3-3
Totals
Refuse
Liquor
1991
1990
r
$ 131,441
$ 394,719
$ 351,943 $
352,726
25
8,162
9,480
5,783
(1,564)
(1,818)
(2,655)
351
33,025
242,781
184,456
(13,776)
150
(29,181)
(39,535)
14,038
(569)
51,107
(29,302)
—
(5,179)
(734)
' _
(44,581)
(44,769)
(16,122)
28,350
47,168
49,847
28,662
145
5,500
5,120
5,176
r—
(2,802)
(3,253)
17,382
29,133
44,489
274,135
153,111
$ 160,574
1
r
$ 439,208
$ 626,078 $
505,837
r
r
r
r
-106-
CITY OF COLUMBIA HQGI-ffS, MINNESOTA
Water Utility Fund
$ -
Balance Sheet
$ 25,392
As of December 31, 1991
19,052
(with Comparative Totals as of December 31, 1990)
Capital
Capital
Improve-
Replace -
Operating ment
ment
Account Account
Account
Assets
Current assets
Cash and investments
Cash and cash equivalents
Temporary investments
Total cash and investments
Receivables
Accounts
Interest
Inventory, at cost
Total current assets
Fixed assets
Land
Buildings
Improvements other than buildings
Machinery and equipment
Less accumulated depreciation
Net fixed assets
Total assets
Liabilities and Fund Equity
Current liabilities
Exhibit J-4
Totals
1991 1990
$ 25,392
$ -
$ -
$ 25,392
$ 111,273
19,052
125,750
548,550
693,352
600,000
44,444
125,750
548,550
718,744
711,273
166,585
-
-
166,585
155,518
-
803
4,571
5,374
16,985
2,535
-
-
2,535
2,347
213,564
126,553
.553,121
893,238
886,123
45,223
-
-
45,223
45,223
233,236
-
-
233,236
233,236
2,661,821
-
-
2,661,821
2,566,779
242,580
-
-
242,580
21,322
3,182,860
-
-
3,182,860
2,866,560
1,489,016
-
-
1,489,016
1,412,082
1,693,844
-
-
1,693,844
1,454,478_
$ 1,907,408 $ 126,553 $ 553,121 $ 2,587,082 $ 2,340,601
Accounts payable $
53,846 $
$ $ 53,846
$ 58,112
Accrued salaries and withholdings payable
15,008
_ _
- - 15,008
15,564
Due to other governmental units
6,836
6,836
7,287
Total current liabilities
75,690
- - 75,690
80,963
Fund equity
Contributed capital
Property owners
Federal funds
Total contributed capital
Retained earnings
Reserved for capital replace-
ment /constriction
Unreserved
Total retained earnings
Total fund equity
Total liabilities
and fund equity
430,102
-
-
430,102
456,396
453,000
-
-
453,000
453,000
883,102
-
-
883,102
909,396
-
126,553
553,121
679,674
683,940
948,616
-
-
948,616
858,209
948,616
126,553
553,121
1,628,290
1,542,149
1,831,718
126,553
553,121
2,511,392
2,451,545
$ 1,907,408 $
126,5.53
$ 553,121
$_2 87 082
$ 2,532,508
-107-
Exhibit J-5
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Water Utility Fund
Statement of Revenues, Expenses, and Changes in Retained Earnings
Year Ended December 31, 1991
(with Comparative Totals for Year Ended December 31, 1990)
Operating expenses
Cost of sales and services
386,409
Capital
Capital
386,409
358,512
Distribution
287,971
Improve-
Replace -
287,971
257,788
Administration
Operating
ment
ment
Totals
8,715
Depreciation
Account
Account
Account
1991
1990
Operating revenues
758,437
-
-
758,437
687,794
Charges for services
49,790
-
-
49,790
68,781
Customer services
$ 5,236
$ -
$ -
$ 5,236 $
7,814
Penalties
25,043
-
-
25,043
21,130
Charges for sales
1,293
-
-
1,293
130
Water sales
773,324
-
-
773,324
723,219
Meter sales
4,624
-
-
4,624
4,412
Total operating revenues
808,227
-
-
808,227
756,575
Operating expenses
Cost of sales and services
386,409
-
-
386,409
358,512
Distribution
287,971
-
-
287,971
257,788
Administration
7,124
-
-
7,124
8,715
Depreciation
76,933
-
-
76,933
62,779
Total operating expenses
758,437
-
-
758,437
687,794
Operating income
49,790
-
-
49,790
68,781
Nonoperating revenues (expense)
Interest income
-
7,887
44,883
52,770
50,337
Miscellaneous revenue
1,293
-
-
1,293
130
Miscellaneous expense
(127)
-
-
(127)
1,064
Total nonoperating
revenues (expense)
1,166
7,887
44,883
53,936
49,403
Income before
operating transfers
50,956
7,887
44,883
103,726
118,184
Operating transfers in
113,095
20,000
-
133,095
720,000
Operating transfers (out)
(63,878)
21,334
91,762
176,974
8( 05,157)
Total operating transfers
49,217
(1,334)
9( 1,762)
(43,879)
(85,157)
Net income (loss)
100,173
6,553
(46,879)
59,847
33,027
Credit for depreciation on contributed assets
26,294
-
-
26,294
26,294
Retained earnings
Beginning of year
822,149
120,000
600,000
1,542,149
1,482,828
End of year
$ 948,616
$ 126,553
$ 553,121
$ 1,628,290
$ 1,542,149
-108-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Water Utility Fund
Statement of Cash Flows
Years Ended December 31, 1991 and 1990
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
Operating transfers (out)
Cash flows from capital and related financing activities
Acquisition of fixed assets
Cash flows from investing activities
Net change in investments
Interest received on investments
Net cash provided (used) by investing activities
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents
Beginning of year
End of year
m
Exhibit J-6
$ 797,160 $ 806,863
(486,610) (456,484)
(200,355) (170,868)
1,293 130
(127) 1,064
111,361 178,577
(43,879) (85,157)
(124,393) (86,493)
(93,351) —
64,381 50,798
(28,970) 50,798
(85,881) 57,725
111,273 53,548
$ 25,392 $ 111,273
(continued)
CITY OF COLUMBIA HEIGHTS, MD;NESOTA
Water Utility Fund (continued)
Statement of Cash Flows
Years Ended December 31, 1991 and 1990
Reconciliation of Operating Income to
Net Cash Provided by Operating Activities
Operating income
Adjustments to reconcile operating income to
net cash provided by operating activities
Miscellaneous revenue
Miscellaneous expense
Depreciation expense
Changes in assets and liabilities
(Increase) decrease in accounts receivable
(Increase) decrease in inventories
(Decrease) in accounts payable
(Decrease) in accrued salaries and withholdings payable
Increase (decrease) in due to other governmental units
Total adjustments
Net cash provided by operating activities
sm
Exhibit 3-6
1991 1990
$ 49,790 $ 68,781
1,293
130
(127)
(1,064)
76,933
62,779
(11,067)
50,288
(188)
608
(4,266)
(6,786)
(556)
(1,062)
(451)
4,903
61,571 109,796
$ 111,361 $ 178,577
Exhibit J-7
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Fund equity
Contributed capital
Customers
Retained earnings
Reserved for capital replace-
ment /construction
Unreserved
Total retained earnings
Total fund equity
Total liabilities and fund equity
746,007 -
746,007 784,942
-
Sewer Utility Fund
2,104,815
2,370,028
2,198,940
918,972
Balance Sheet
-
918,972
1,162,695
918,972
As of December 31, 1991
2,104,815
3,289,000
3,361,635
(with Comparative Totals as of December
31, 1990)
2,104,815
4,035,007
4,146,577
Capital
Capital
$ 2,104,815
$ 4,062,647
$ 4,195,591
Improve-
Replace -
Operating ment
ment
Totals
Account Account
Account
1991
1990
Assets
Current assets
Cash and investments (deficit)
Cash and cash equivalents
$ (43,674) $ -
$ -
$ (43,674)
$ (13,071)
Temporary investments
(308,189) 263,528
2,091,305
2,046,644
2,000,000
Total cash and investments (deficit)
(351,863) 263,528
2,091,305
2,002,970
1,986,929
Receivables
Accounts
175,992 -
-
175,992
171,504
Interest
- 1,685
13,510
15,195
61,047
Due from other governmental
units, current portion
15,648 -
-
15,648
36,846
Prepaid expense
56,821 -
-
56,821
51,642
Total current assets
(103,402) 265,213
2,104,81.5
2,266,626
2,307,968
Long -term assets
Due from other governmental
units, net of current portion
156,434 -
-
156,434
172,874
Fixed assets
Land
36,586 -
-
36,586
36,586
Buildings
45,690 -
-
45,690
45,690
Improvements other than buildings
3,007,791 -
-
3,007,791
2,976,139
Machinery and equipment
366,685 -
-
366,685
341,027
3,4.56,752 -
-
3,456,752
3,399,442
Less accumulated depreciation
1,817,165 -
-
1,817,165
1,684,693
Net fixed assets
1,639,587 -
-
1,639,587
1,714,749
Total assets
$ 1,692,619 $ 265,213
$ 2.104,815
$ 4,062,647
$ 4,195,591
Liabilities and Fund Equity
Current liabilities
Accounts payable
$ 13,435 $ -
$ -
$ 13,435
$ 34,840
Accrued salaries and withholdings payable
14,205 -
-
14,205
14,174
Total current liabilities
27,640 -
-
27,640
49,014
Fund equity
Contributed capital
Customers
Retained earnings
Reserved for capital replace-
ment /construction
Unreserved
Total retained earnings
Total fund equity
Total liabilities and fund equity
746,007 -
746,007 784,942
-
265,213
2,104,815
2,370,028
2,198,940
918,972
-
-
918,972
1,162,695
918,972
265,213
2,104,815
3,289,000
3,361,635
1,664,979
265,213
2,104,815
4,035,007
4,146,577
$ 1,692,619
$ 265,213
$ 2,104,815
$ 4,062,647
$ 4,195,591
-111-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Sewer Utility Fund
Statement of Revenues, Expenses, and Changes in Retained Earnings
Year Ended December 31, 1991
(with Comparative Totals for Year Ended December 31, 1990)
Operating revenues
Charges for sales and services
Sewer service charges
Operating expenses
Cost of sales and services
Distribution
Administration
Depreciation
Total operating expenses
Operating loss
Nonoperating revenues (expense)
Interest income
Miscellaneous revenue
Miscellaneous expense
Total nonoperating
revenues (expense)
Income (loss) before
operating transfers
Operating transfers in
Operating transfers (out)
Total operating transfers
Net income (loss)
Credit for depreciation on
contributed assets
Retained earnings
Beginning of year
End of year
Capital
Improve -
Operating ment
Account Account
$ 774,047 $ - $
Capital
Replace-
ment
Account
Exhibit .I-8
Totals
1991 1990
- $ 774,047 $ 692,697
641,976
-
-
641,976
633,162
216,618
-
-
216,618
203,519
6,988
-
-
6,988
8,463
132,472
-
-
132,472
90,035
998,054
-
-
998,054
935,179
(224,007)
-
-
(224,007)
(242,482)
7,227
16,547
132,664
156,438
188,729
-
-
-
-
50
127
-
-
(127)
-
7,100
16,547
132,664
156,311
188,779
(216,907)
16,547
132,664
(67,696)
(53,703)
49,183
35,000
-
84,183
2,235,000
(78,874)
2( 1,334)
(27,849)
(128,057)
(2,320,027)
(29,691)
13,666
(27,849)
(43,874)
(85,027)
(246,598)
30,213
104,815
(111,570)
(138,730)
38,935
-
-
38,935
38,935
1,126,635
235,000
2,000,000
3,361,635
3,461,430
$ 918,972
$ 265,213
$ 2,104,815
$ 3,289,000
$ 3,361,635
-112-
CITY OF COLUMBIA FIGHTS, MINNESOTA
Sewer Utility Fund
Statement of Cash Flows
Years Ended December 31, 1991 and 1990
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 used by operating activities
Cash flows from noncapital financing activities
Operating transfers (out)
Cash flows from capital and related financing activities
Acquisition of fixed assets
Cash flows from investing activities
Net change in investments
Interest received on investments
Net cash provided by investing activities
Net decrease in cash and cash equivalents
Cash and cash equivalents (deficit)
Beginning of year
End of year
-113-
Exhibit 3-9
1991 1990
$ 806,405 $ 773,779
(763,427) (693,257)
(127,916) (126,972)
— 50
(127) —
(85,065) (46,400)
(43,874) (85,027)
(57,310)
(357,615)
(46,644)
—
202,290
194,593
155,646
194,593
(30,603)
(294,449)
13,071
281,378
$ (43,674)
$__103.0 71)
(continued)
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Sewer Utility Fund (continued)
Statement of Cash Flows
Years Ended December 31, 1991 and 1990
1991
Reconciliation of Operating (Loss) to Net
Cash Used by Operating Activities
Exhibit J-9
Operating (loss)
$ (224,007)
$ (242,482)
Adjustments to reconcile operating (loss) to
net cash used by operating activities
Miscellaneous revenue
—
50
Miscellaneous expense
(127)
—
Depreciation expense
132,472
90,035
Changes in assets and liabilities
(Increase) decrease in accounts receivable
(4,488)
65,497
Decrease in due from other governmental units
37,638
15,585
(Increase) in prepaid expense
(5,179)
(734)
Increase (decrease) in accounts payable
(21,405)
25,132
Increase in accrued salaries and withholdings payable
31
517
Total adjustments
138,942
196,082
Net cash used by operating activities
$ (85,065)
$___(46,400
-114-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Refuse Utility Fund
Balance Sheet
As of December 31, 1991 and 1990
Assets
Current assets
Cash and investments
Cash and cash equivalents
Temporary investments
Total cash and investments
Receivables
Accounts
Interest
Due from other governmental units
Total current assets
Fixed assets
Improvements other than buildings
Machinery and equipment
Less accumulated depreciation
Net fixed assets
Total assets
Liabilities and Fund Equity
Current liabilities
Accounts payable
Accrued salaries and withholdings payable
Total current liabilities
Fund equity
Retained earnings
Unreserved
Total liabilities and fund equity
-115-
Exhibit 3-10
1991 1990
$ 106,672
$ 5,882
1,111
—
107,783
5,882
338,780
325,004
832
1,944
49,457 63,495
496,852 396,325
2,890
2,890
615
615
3,505
3,505
1,458
1,108
2,047
2,397
$ 498,899 $ 398,722
$ 28,526 $ 176
145 —
28,671 176
470,228 398,546
$ 498,899 $ 398,722
Exhibit J-11
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Refuse Utility Fund
Statement of Revenues, Expenses, and Changes in Retained Earnings
Years Ended December 31, 1991 and 1990
Operating revenues
Refuse service charges $ 1,523,154 $ 1,456,042
Intergovernmental 50,458 103,465
Total operating revenues 1,573,612 1,559,507
Operating expenses
Administration
12,552
13,597
Collections and disposals
1,122,048
1,258,272
Recycling
305,061
22,346
Hazardous waste
2,159
23
Depreciation
351
351
Total operating expenses
1,442,171
1,294,589
Operating income
131,441
264,918
Nonoperating revenues
Interest income
8,173
5,762
Miscellaneous revenue
25
607
Total nonoperating revenues
8,198
6,369
Income before operating transfers
139,639
271,287
Operating transfers (out)
(67,957)
(62,399)
Net income
71,682
208,888
Retained earnings
Beginning of year 398,546 189,658
End of year $ 470,228 $ 398,546
-116-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Refuse Utility Fund
Statement of Cash Flows
Years Ended December 31, 1991 and 1990
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
Net cash provided by operating activities
Cash flows from noncapital financing activities
Operating transfers (out)
Cash flows from capital and related financing activities
Disposition of fixed assets
Cash flows from investing activities
Net change in investments
Interest received on investments
Net cash provided by investing activities
Net increase in cash and cash equivalents
Cash and cash equivalents (deficit)
Beginning of year
End of year
-117-
1991
$ 1,573,874
(1,411,825)
(1,500)
25
160,574
(67,957)
(1,112)
9,285
8,173
100,790
Exhibit 3-12
1990
$ 1,359,610
(1,294,001)
(762)
607
65,454
(62,399)
3,593
5,031
5,031
11,679
5,882 (5,797)
$ 106,672 $ 5,882
(continued)
Exhibit J-12
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Refuse Utility Fund (continued)
Statement of Cash Flows
Years Ended December 31, 1991 and 1990
1991 1990
Reconciliation of Operating Income to
Net Cash Provided by Operating Activities
Operating income
$ 131,441
$ 264,918
Adjustments to reconcile operating income to
net cash provided by operating activities
Miscellaneous revenue
25
607
Depreciation expense
351
351
Changes in assets and liabilities
(Increase) in accounts receivable
(13,776)
(155,214)
(Increase) decrease in due from other governmental units
14,038
(44,683)
Increase (decrease) in accounts payable
28,350
(78)
Increase (decrease) in accrued salaries
and withholdings payable
145
(447)
Total adjustments
29,133
(199,464)
Net cash provided by operating activities
$ 160,574
$ 65,454
ffim
Exhibit J-13
CITY OF COLUMBIA FIGHTS, MPINESOTA
Liquor Fund
Balance Sheet
As of December 31, 1991 and 1990
1991 1990
Assets
Current assets
Cash and investments
Cash and cash equivalents
$ 278,765
$ 52,054
Temporary investments
302,754
300,000
Total cash and investments
581,519
352,054
Receivables
Accounts
-
150
Interest
3,670
29,556
Due from other governmental units
773
204
Inventory, at cost
485,445
440,864
Total current assets
1,071,407
822,828
Fixed assets
Land 13,051 13,051
Buildings 183,522 183,522
Improvements other than buildings 100,093 99,369
Machinery and equipment 201,925 168,506
498,591 464,448
Less accumulated depreciation 222,821 212,888
Net fixed assets 275,770 251,560
Total assets $ 1,347,177 $_1,074 388
Liabilities and Fund Equity
Current liabilities
Accounts payable $ 175,946 $ 128,778
Accrued salaries and withholdings payable 28,018 22,518
Due to other governmental units 42,740 45,542
Total current liabilities 246,704 196,838
Fund equity
Retained earnings
Unreserved 1,100,473 877,550
Total liabilities and fund equity $ 1,347,177 $ 1,074,388
-119-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
liquor Fund
Statement of Revenues, Expenses, and Changes in Retained Earnings
Year Ended December 31, 1991
(with Comparative Totals for Year Ended December 31, 1990)
Operating revenues
Charges for sales
liquor
Beer
Wine
Other
Total operating revenues
Operating expenses
Cost of goods sold
Operating expense
Depreciation
Total operating expenses
Operating income
Nonoperating revenues (expense)
Interest income
Miscellaneous revenue
Miscellaneous expense
Total nonoperating
revenues (expense)
Income before
operating transfers
Operating transfers (out)
Net income (loss)
Retained earnings
Beginning of year
End of year
Exhibit J-14
Heights Totals
Top Valu liquor 1991 1990
$ 1,136,016 $ 236,324 $ 1,372,340 $ 1,285,812
1,769,728
603,823
2,373,551
2,017,499
352,870
56,801
409,671
404,806
519,682
114,099
633,781
520,870
3,778,296
1,011,047
4,789,343
4,228,987
3,109,706
800,475
3,910,181
3,490,170
346,104
105,314
451,418
446,017
25,108
7,917
_ 33,025
31,291
3,480,918
913,706
4,394,624
3,967,478
$ 297,378
$ 97,341
394,719
261,509
-120-
36,038 87,594
8,162 4,996
(1,564) (1,591)
42,636 90,999
437,355 352,508
(214,432) (1,071,277)
222,923 (718,769)
877,550 1,596,319
$ 1,100,473 $ 877,550
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Liquor Fund
Statement of Cash Flows
Years Ended December 31, 1991 and 1990
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
Operating transfers (out)
Cash flows from capital and related financing activities
Acquisition of fixed assets
Disposition of fixed assets
Net cash used by capital and
related financing activities
Cash flows from investing activities
Net change in investments
Interest received on investments
Net cash provided by investing activities
Net increase in cash and cash equivalents
Cash and cash equivalents
Beginning of year
End of year
-121-
Exhibit J-15
$ 4,788,924
$ 4,228,677
(4,068,648)
(3,653,022)
(287,666)
(270,854)
8,162
4,996
(1,564)
(1,591)
439,208
308,206
(214,432) (1,071,277)
(57,235) (3,070)
1,647
(57,235) (1,423)
(2,754)
700,000
61,924
83,735
59,170
783,735
226,711
19,241
52,054
32,813
$ 278,765 $
52,054
(continued)
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Liquor Fund (continued)
Statement of Cash Flows
Years Ended December 31, 1991 and 1990
Reconciliation of Operating Income to
Net Cash Provided by Operating Activities
Operating income
Adjustments to reconcile operating income to
net cash provided by operating activities
Miscellaneous revenue
Miscellaneous expense
Depreciation expense
Changes in assets and liabilities
(Increase) decrease in accounts receivable
(Increase) in due from other governmental units
(Increase) in inventory, at cost
Increase in accounts payable.
Increase in accrued salaries and withholdings payable
Increase (decrease) in due to other governmental units
Total adjustments
Net cash provided by operating activities
-122-
Exhibit J-15
1991
$ 394,719 $ 261,509
8,162
4,996
(1,564)
(1,591)
33,025
31,291
150
(106)
(569)
(204)
(44,581)
(16,730)
47,168
10,394
5,500
6,168
(2,802)
12,479
44,489
46,697
$ 4392208 $ 308,206
INTERNAL SERVICE FUNDS
Internal Service Funds are used to account for the financing on a cost - reimbursement basis of goods or
services provided by one department or agency to other departments or agencies within the City.
Central Garage Fund - used 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 - used 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.
' -123-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Internal Service Funds
Combining Balance Sheet
As of December 31, 1991
(with Comparative Totals as of December 31, 1990)
Assets
Current assets
Cash and investments
Cash and cash equivalents
Temporary investments
Total cash and investments
Receivables
Accounts
Interest
Prepaid expense
Inventory, at cost
Total current assets
Fixed assets
Buildings
Improvements other than buildings
Machinery and equipment
Less accumulated depreciation
Net fixed assets
Total assets
Liabilities and Fund Equity
Current liabilities
Accounts payable
Accrued salaries and
withholdings payable
Total current liabilities
Fund equity
Contributed capital
Municipal funds
Property owners
Total contributed capital
Retained earnings
Reserved for insurance
Reserved for capital improvement
Unreserved
Total retained earnings
Total fund equity
Total liabilities and fund equity
-124-
Exhibit K -1
Central Totals
Garage Insurance 1991 1990
$ 8,046
$ 92,221
$ 100,267
$ 128,233
24,718
306,473
331,191
320,000
32,764
398,694
431,458
448,233
3,258
245
3,503
2,875
282
2,984
3,266
9,457
-
64,925
64,925
70,686
80,520
-
80,520
80,169
116,824
466,848
583,672
611,420
307,888
-
307,888
306,529
98,629
-
98,629
97,226
97,412
-
97,412
95,169
503,929
-
503,929
498,924
153,781
-
153,781
124,079
350,148
-
350,148
374,845
$ 466,972 $ 466,848 $ 933,820 $ 986,265
$ 3,575 $ 13,657 $ 17,232 $ 27,677
22,029
-
22,029
17,362
25,604
13,657
39,261
45,039
124,196
-
124,196
124,196
64,6.53
-
64,653
64,653
188,849
-
188,849
188,849
-
453,191
453,191
496,632
26,521
-
26,521
20,000
225,998
-
225,998
235,745
252,519
453,191
705,710
752,377
441,368
453,191
894,559
941,226
$ 466,972 $ 466,848 $ 933,820 $ 986,265
Exhibit K -2
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Internal Service Funds
Combining Statement of Revenues, Expenses, and Changes in Retained Earnings
Year Ended December 31, 1991
(with Comparative Totals for Year Ended December 31, 1990)
Operating expenses
Cost of services and space
Central
-
Totals
242,602
Claims administration
Garage
Insurance
1991
1990
Operating revenues
-
124,924
124,924
3,666
Charges for services
-
5,440
5,440
14,794
Services to departments
$ 90,068
$ -
$ 90,068 $
94,818
Use of space
112,939
-
112,939
110,205
Insurance allocation
-
74,469
74,469
-
Recovery of damages
-
5,935
5,935
812
Charges for sales
2,765
29,302
32,067
28,026
Sales of gasoline
60,231
-
60,231
55,406
Total operating revenues
263,238
80,404
343,642
261,241
Operating expenses
Cost of services and space
286,688
-
286,688
242,602
Claims administration
-
29,539
29,539
25,154
Claims
-
124,924
124,924
3,666
Insurance deductible
-
5,440
5,440
14,794
Depreciation
29,702
-
29,702
26,748
Total operating expenses
316,390
159,903
476,293
312,964
Operating loss
(53,152)
(79,499)
(132,651)
(51,723)
Nonoperating revenues
Interest income
2,765
29,302
32,067
28,026
Miscellaneous revenue
9,361
13,255
22,616
117,608
Total nonoperating revenues
12,126
42,557
54,683
145,634
Income (loss) before
operating transfers
(41,026)
(36,942)
(77,968)
93,911
Operating transfers in
42,800
-
42,800
145,000
Operating transfers (out)
(5,000)
(6,499)
(11,499)
(20,000)
Total operating transfers
37,800
(6,499)
31,301
125,000
Net income (loss)
(3,226)
(43,441)
(46,667)
218,911
Retained earnings
Beginning of year, as previously stated 255,745 496,632 752,377 315,819
Adjustment for improvements - - - 181,207
Beginning of year, as restated 255,745 496,632 752,377 497,026
Residual equity transfers - - - 36,440
End of year $ 252,519 $ 453,191 $ 705,710 $ 752,377
-125-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Internal Service Funds
Combining Statement of Cash Flows
Year Ended December 31, 1991
(with Comparative Totals for Year Ended December 31, 1990)
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
Net cash provided (used)
by operating activities
Cash flows from noncapital financing activities
Residual equity transfer
Operating transfers in
Operating transfers (out)
Net cash provided (used) by
noncapital financing activities
Cash flows from capital and related financing activities
Acquisition of fixed assets
Capital contribution
Net cash used by capital and
related financing activities
Cash flows from investing activities
Net change in investments
Interest earned on investments
Net cash provided (used)
by investing activities
Net increase (decrease) in
cash and cash equivalents
Cash and cash equivalents (deficit)
Beginning of year
End of year
Exhibit K -3
Central Totals
Garage Insurance 1991 1990
$ 259,980 $ 83,034 $ 343,014 $ 260,429
(183,415) (149,808)
(333,223)
(191,070)
(113,736) -
(113,736)
(107,352)
9,361 13,255
22,616
117,608
(27,810) (53,519)
(81,329)
79,615
- - - 36,440
42,800 - 42,800 -
5,000 (6,499) 11,499 125,000
37,800 (6,499) 31,301 161,440
(5,005)
-
(5,005)
(131,600)
-
-
-
94,196
(5,005)
-
(5,005)
(37,404)
(4,718)
(6,473)
(11,191)
-
2,483
35,775
38,258
27,283
(2Z5
29,302
27,067
27,283
2,750
(30,716)
(27,966)
230,934
5,296
122,937
128,233
102,701
$ 8,046
$ 92,221
$ 100,267
$ 128,233
-126-
(continued)
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Internal Service Funds (continued)
Combining Statement of Cash Flows
Year Ended December 31, 1991
(with Comparative Totals for Year Ended December 31, 1990)
Reconciliation of Operating (Loss) to Net Cash
Provided (Used) by Operating Activities
Operating loss
Adjustments to reconcile operating loss to net
cash provided (used) by operating activities
Miscellaneous revenue
Depreciation expense
Changes in assets and liabilities
(Increase) decrease in accounts receivable
(Increase) in inventory
(Increase) decrease in prepaid expense
Increase (decrease) in accounts payable
Increase in accrued salaries
and withholdings payable
Total adjustments
Net cash provided (used)
by operating activities
Central
Garage Insurance
Exhibit K -3
Totals
1991 1990
$ (53,152) $ (79,499) $ (132,651) $ (51,723)
9,361
13,255
22,616
117,608
29,702
—
29,702
26,748
(3,258)
2,630
(628)
(2,875)
(351)
—
(351)
(9,282)
—
5,761
5,761
(13,267)
(14,779)
4,334
(10,445)
12,334
4,667
—
4,667
72
25,342
25,980
51,322
131,338
$ 2( 7,810 $__(5_ 51 3,9) $(81,329) $__79,615
-127-
CITY OF COLUMBIA MGI TI'S, MINNESOTA
Central Garage Fund
Balance Sheet
As of December 31, 1991
(with Comparative Totals as of December 31, 1990)
Assets
Current assets
Cash and investments
Cash and cash equivalents
Temporary investments
Total cash and investments
Receivables
Accounts
Interest
Inventory, at cost
Total current assets
Fixed assets
Buildings
Improvements other than buildings
Machinery and equipment
Less accumulated depreciation
Net fixed assets
Total assets
Liabilities and Fund Equity
Current liabilities
Accounts payable
Accrued salaries and
withholdings payable
Total current liabilities
Fund equity
Contributed capital
Municipal funds
Property owners
Total contributed capital
Retained earnings
Reserved for capital improvement
Unreserved
Total retained earnings
Total fund equity
Total liabilities and fund equity
Exhibit K-4
Capital
Improve -
Operating ment Totals
Account Account 1991 1990
$ 6,398 $ 1,648 $ 8,046 $ 5,296
-
24,718
24,718
20,000
6,398
26,366
325764
25,296
3,258
-
3,258
-
127
155
282
-
80,520
-
80,520
80,169
90,303
26,521
116,824
105,465
307,888
-
307,888
306,529
98,629
-
98,629
97,226
97,412
-
97,412
95,169
503,929
_
-
503,929
498,924
153,781
-
153,781
124,079
350,148
-
350,148
374,845
$ 440,451 $ 26,521 $ 466,972 $ 480,310
$ 3,575 $ -
$ 3,575
$ 18,354
22,029 -
22,029
17,362
25,604 -
25,604
35,716
124,196 -
124,196
124,196
64,653 -
64,653
64,653
188,849 -
188,849
188,849
- 26,521
26,521
20,000
225,998 -
225,998
235,745
225,998 26,521
252,519
255,745
414,847 26,521
441,368
444,594
$ 440,451 $ 26,521 $ 466,972 $ 480,310
-128-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Central Garage Fund
Statement of Revenues, Expenses, and Changes Retained Earnings
Year Ended December 31, 1991
(with Comparative Totals for Year Ended December 31, 1990)
Operating revenues
Charges for services
Services to departments
Use of space
Charges for sales
Sales of gasoline
Total operating revenues
Operating expenses
Cost of services and space
Depreciation
Total operating expenses
Operating loss
Nonoperating revenues
Interest income.
Miscellaneous revenue
Total nonoperating revenues
Income (loss) before
operating transfers
Operating transfers in
Operating transfers (out)
Total operating transfers
Net income (loss)
Retained earnings (deficit)
Beginning of year, as previously stated
Adjustment for improvements
Beginning of year, as restated
Residual equity transfers
End of year
Operating
Account
$ 90,068
112,939
Capital
Improve-
ment
Exhibit K -5
Totals
$ - $ 90,068 $ 94,818
112,939 110,205
60,231 55,406
- 263,238 260,429
286,688
-
286,688
242,602
29,702
-
29,702
26,748
316,390
-
316,390
269,350
(53,152)
-
(53,152)
(8,921)
1,244
1,521
2,765
-
9,361
-
9,361
2,558
10,605
11521
12,126
2,558
(42,547)
1,521
(41,026)
(6,363)
37,800
5,000
42,800
145,000
(5,000
-
(5,000
(20,000)
32,800
5,000
37,800
125,000
(9,747)
6,521
(3,226)
118,637
235,745
20,000
255,745
(80,539)
36,440
$ 225,998 $ 26,521 $ 252,519 $ 255,745
-129-
CITY OF COLUMBIA HEIGHTS, MrIINESOTA
Central Garage Fund
Statement of Cash Flows
Years Faded December 31, 1991 and 1990
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
Net cash provided (used)
by operating activities
Cash flows from noncapital financing activities
Residual equity transfer in
Operating transfers in
Operating transfers (out)
Net cash provided by noncapital financing activities
Cash flows from capital and related financing activities
Acquisition of fixed assets
Capital contributions
Net cash used by capital and
related financing activities
Cash flows from investing activities
Net change in investments
Interest earned on investments
Net cash provided (used) by investing activities
Net increase in cash and cash equivalents
Cash and cash equivalents (deficit)
Beginning of year
End of year
-130-
Exhibit K-6
1991 1990
$ 259,980
$ 260,429
(183,415)
(140,091)
(113,736)
(107,352)
9,361
2,558
(27,810)
15,544
— 36,440
42,800 125,000
(5,000) —
37,800 161,440
(5,005) (131,600)
QA 1 QF
(5,005) (37,404)
(4,71 8) —
2,483 1,767
(2,235) 1,767
2,750 141,347
5,296 136,051
$ 8,046 $ 5,296
(continued)
Exhibit K-6
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Central Garage Fund (continued)
Statement of Cash Flows
Years Ended December 31, 1991 and 1990
1990
Reconciliation of Operating (Loss) to Net Cash
Provided (Used) by Operating Activities
Operating (loss)
$ (53,152) $
(8,921)
Adjustments to reconcile operating (loss) to net
cash provided (used) by operating activities
Miscellaneous revenue
9,361
2,558
Depreciation expense
29,702
26,748
Changes in assets and liabilities
(Increase) in accounts receivable
(3,258)
—
(Increase) in inventory, at cost
(351)
(9,282)
Increase (decrease) in accounts payable
(14,779)
4,369
Increase in accrued salaries and withholdings payable
4,667
72
Total adjustments
25,342
24,465
Net cash provided (used) by operating activities
$ (27,810) $
15,544
-131-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Insurance Fund
Balance Sheet
As of December 31, 1991 and 1990
Assets
Current assets
Cash and investments
Cash and cash equivalents
Temporary investments
Total cash and investments
Receivables
Accounts
Interest
Prepaid expense
Total assets
liabilities and Fund Equity
Current liabilities
Accounts payable
Fund equity
Retained earnings
Reserved for insurance
Total liabilities and fund equity
-132-
Exhibit K -7
1991 1990
$ 92,221
$ 122,937
306,473
300,000
398,694
422,937
245
2,875
2,984
9,457
64,925
70,686
$ 466,848 $ 505,955
$ 13,657 $ 9,323
453,191 496,632
$ 466,848 $ 505,955
Exhibit K-8
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Insurance Fund
Statement of Revenues, Expenses, and Changes in Retained Earnings
Years Ended December 31, 1991 and 1990
1991 1990
Operating revenues
Insurance allocation
$ 74,469
$ —
Recovery of damages
5,935
812
Total operating revenues
80,404
812
Operating expenses
Claims administration
29,539
25,154
Claims
124,924
3,666
Insurance deductible
5,440
14,794
Total operating expenses
159,903
43,614
Operating loss
(79,499)
(42,802)
Nonoperating revenues
Interest income
29,302
28,026
Miscellaneous revenue
13,255
115,050
Total nnoperating revenues
42,557
143,076
Income (loss) before operating transfers
(36,942)
100,274
Operating transfers (out)
(6,499)
—
Net income (loss)
(43,441)
100,274
Retained earnings
Beginning of year 496,632 396,358
End of year $ 453,191 $ 496,632
-133-
Exhibit K-9
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Insurance Fund
Statement of Cash Flows
Years Ended December 31, 1991 and 1990
(continued)
-134-
1991
1990
Cash flows from operating activities
Cash received from damages
$ 83,034
—
Cash paid to suppliers for goods and services
(149,808)
(50,979)
Miscellaneous revenue
13,255
115,050
Net cash provided (used) by operating activities
(53,519)
64,071
Cash flows from noncapital financing activities
Operating transfers (out)
(6,499)
—
Cash flows from investing activities
Net change in investments
(6,473)
—
Interest received on investments
35,775
25,516
Net cash provided by investing activities
29,302
25,516
Net increase (decrease) in cash and cash equivalents
(30,716)
89,587
Cash and cash equivalents
Beginning of year
122,937
33,350
End of year
$ 92,221
$ 122,937
(continued)
-134-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Insurance Fund (continued)
Statement of Cash Flows
Years Ended December 31, 1991 and 1990
Reconciliation of Operating (Loss) to Net Cash
Provided (Used) by Operating Activities
Operating (loss)
Adjustments to reconcile operating (loss) to net
cash provided (used) by operating activities
Miscellaneous revenue
Changes in assets and liabilities
(Increase) decrease in accounts receivable
(Increase) decrease in prepaid expense
Increase in accounts payable
Total adjustments
Net cash provided (used) by operating activities
-135-
1991
Exhibit K-9
1990
$ (79,499) $ (42,802)
13,255
115,050
2,630
(2,875)
5,761
(13,267)
4,334
7,965
25,980
106,873
$ 5( 3,519)
$ 64,071
AGENCY FUNDS
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.
Deferred Compensation Fund - used to account for assets held by deferred compensation trustee.
Permit Surcharge Fund - used to account for SAC and SUR charges collected for and remitted
to the State of Minnesota.
Escrow Agency Fund - used to account for payroll - related assets and liabilities.
-136-
CITY OF COLUMBIA FIGHTS, mD NESOTA
Fiduciary Funds
Combining Statement of Changes in Assets and Iabilities -All Agency Funds
Year Ended December 31, 1991
Total All Agency Funds
Assets
Cash and cash equivalents
General account
Payroll account
Total cash and
cash equivalents
Accounts receivable
Assets held by deferred
compensation trustees
Total assets
Liabilities
Liabilities
Accounts payable
Deferred compensation
payable to employees
Deposits
Other liabilities
Total liabilities
Deferred Compensation Agency Fund
Assets
Assets held by deferred
compensation trustee
liabilities
Deferred compensation
payable to employees
Balance
January 1 Additions Deletions
$ 17,362 $ 5,107,703 $ 5,115,092
571
2,607,402
2,607,066
17,933
7,715,105
7,722, 158
1,508
6,719
8,005
719,952
329,981
108,999
$ 739,393 $ 8,051,805 $ 7,839,162
$ 113 $ - $ 113
719,952 329,981 108,999
6,332 300 -
12,996 31,860 40,386
$ 739,393 $ 362,141 $ 149,498
Exhibit L -1
Balance
$ 9,973
907
10,880
222
940,934
$ 952,036
940,934
6,632
4,470
$ 952,036
$ 719,952 $ 329,981 $ 108,999 $ 940,934
$ 719,952 $ 329,981 $ 108,999 $ 940,934
-137-
(continued)
Exhibit L -1
CITY OF COLUMBIA HEIGHTS, N NNESOTA
Fiduciary Funds (continued)
Combining Statement of Changes in Assets and Liabilities —All Agency Funds
Year Ended December 31, 1991
IM.
Balance
Balance
January 1
Additions
Deletions
December 31
Permit Surcharge Agency Fund
Assets
Cash and cash equivalents
General account
$
1,328
$ 26,537
$754
$
111
Liabilities
SAC /SUR charges payable
$
1,328
$ 26,537
$ 27,754
$
111
Escrow Agency Fund
Assets
Cash and cash equivalents
General account
$
16,034
$ 5,081,166
$ 5,087,338
$
9,862
Payroll account
571
2,607,402
2,607,066
907
Accounts receivable
1,508
6,719
8,005
222
Total assets
$
18,113
$ 7,695,287
$ 7,702,409
$
10,991
liabilities
Accounts payable
$
113
$ —
$ 113
$
—
Deposits
6,332
300
—
6,632
Other liabilities
Withholdings payable
—
25
—
25
Payroll deductions payable
10,666
—
8,045
2,621
Employee activity
1,002
5,298
4,587
1,713
Total liabilities
$
18,113
$ 5,623
$ 12,745
$
10,991
IM.
tHOUSING AND REDEVELOPMENT AUTHORITY COMPONENT UNIT
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Housing and Redevelopment Authority Funds
Combining Balance Sheet
All Governmental Fund Types and Account Groups
As of December 31, 1991
(with Comparative Totals as of December 31, 1990)
Assets and Other Debits
Cash and investments
Cash and cash equivalents
Receivables
Accounts
Taxes
Interest
Loans
Due from other governmental units
Due from other funds
Due from primary government
Prepaid expense
Assets held by deferred compensation trustee
Fixed assets
Other assets
Real estate held for resale
Other debits
Amount to be provided for longterm debt
Amount to be provided for compensated absences
Total assets and other debits
Liabilities, Equity, and Other Credits
Liabilities
Accounts payable
Notes payable
Accrued salaries and withholdings payable
Deferred compensation payable
Due to other governmental units
Due to other funds
Due to primary government
Deferred revenue
Accrued interest payable
Deposits
Insurance and taxes in escrow
Compensated absences payable
Total liabilities
Equity and other credits
Investment in general fixed assets
Fund balance
Reserved for community development
Reserved for Parkview Villa South maintenance
Unreserved
Undesignated
Total equity and other credits
Total liabilities, equity, and other credits
-139-
Governmental Fund Types
HRA Special Revenue
Anoka
County
Community
HRA Downtown Low Income Development
General Development Housing Block Grant
$ 611,106 $ - $ 116,546 S -
278 - - -
3,527 - -
280 - 189 -
399,404 - - -
10,455 - 159,107 31,389
1,524 - - 30,649
6,303 - - -
2,946 - 2,861 -
98,413 - -
$ 1,134,236 $ - $ 278,703 $ 62,038
$ 29,433 S
- $ 159,638 $ 23,720
6,201
- 1,024 -
10,438
- 21,011 2,620
30,649
- 1,524 -
11,236
- 4,738 -
409,634
- 345 -
4,480
- 4,625 -
7,121
- - -
509,192
- 192,905 26,340
160,187 - - -
118,770 - - -
346,087 - 85,798 35,698
625,044 - 85,798 35,698
$ 1,134,236 $ - S 278,703 $ 62,038
Fiduciary
Fund Type Account Groups
General
General Long -Term
Agency Fixed Assets Debt
Exhibit M--1
Totals
1991 1990
$ 727,652
$ 514,488
- - - 278
2,716
- - - 3,527
-
- - - 469
583
- - - 399,404
423,806
- - - 200,951
58,814
- - - 32,173
339,958
- - - 6,303
-
- - - 5,807
4,928
154,615 - - 154,615
126,162
- 5,032,349 - 5,032,349
2,974,024
98,413 98,413
- - - - 125,905
- 9,874 9,874 8,839
$ 154,615 L 5,032,349 $ 9,874 $ 6,671,815 $ 4,678,636
$ - $ - $ - $ 212,791
$ 245,544
- - - -
125,905
- - - 7,225
8,116
154,615 - - 154,615
126,162
- - - 34,069
21,888
- - - 32,173
113,670
- - - 15,974
-
- - - 409,979
426,522
- - - -
57,712
- - - 9,105
4,618
- - - 7,121
8,673
- - 9,874 9,874
8,839
154,61.5 - 9,874 892,926
1,147,649
- 5,032,349 - 5,032,349 2,974,024
- - - 160,187 152,823
- - - 118,770 -
S 154,615 $ 5,032,349 $ 9,874 $ 6,671,815 S 4,678,636
-140-
CITY OF COLUMBIA MGHTS, MINNESOTA
Housing and Redevelopment Authority Funds
Combining Statement of Revenues, Expenditures, and Changes in Fund Balance
All Governmental Fund Types
Year Ended December 31, 1991
(with Comparative Totals for Year Ended December 31, 1990)
HRA Special Revenue
-141-
HRA
Downtown
Low Income
General
Development
Housing
Revenues
Taxes
$ 57,707
$ —
$ —
intergovernmental
54,797
—
391,500
Interest
49,883
—
6,918
Other revenues
Rents
57,542
—
214,066
Miscellaneous
20,494
—
3,016
Reimbursements /contributions
1,782,270
—
—
Total revenues
2,022,693
—
615,500
Expenditures
Administration
Personal services
233,647
—
31,696
Other services and charges
Utilities and maintenance operations
—
—
146,412
Other expenditures
Relocation assistance
—
—
—
Legal
—
—
—
Interest expense
—
—
—
Loans and grants
—
—
—
Miscellaneous
—
—
—
Residual receipts payments
—
—
5,582
Capital outlay
Property acquisitions /capital improvements
1,664,086
—
420,585
Debt service
—
—
125,905
Total expenditures
1,897,733
—
730,180
Excess (deficiency) of
revenues over expenditures
124,960
—
(114,680)
Other financing sources
Operating transfers in
—
—
—
HUD forgiveness of loan principal and interest
—
—
183,617
Total other financing sources
—
—
183,617
Excess (deficiency) of revenues and other
financing sources over expenditures
124,960
—
68,937
Fund balance
Beginning of year
290,729
209,355
16,861
Residual equity transfers
209,355
20( 9,355)
—
End of year
$ 625,044
$ —
$ 85,798
-141-
Exhibit N -2
$ 35,698 $ 746,540 $ 556,963
-142-
Totals
Anoka
County
Community
Development
Block Grant
1991
1990
$ -
$ 57,707 $
64,348
85,440
531,737
215,555
517
57,318
60,032
-
271,608
213,160
-
23,510
39,649
-
1,782,270
17,110
85,957
2,724,150
609,854
1,029
266,372
235,333
-
146,412
151,012
-
-
41
-
-
9,752
-
-
10,503
24,509
24,509
158,585
64,739
64,739
30,220
-
5,582
-
-
2,084,671
374,705
-
125,905
-
90,277
2,718,190
970,151
(4,320)
5,960
(360,297)
-
-
346,665
-
183,617
-
-
183,617
346,665
(4,320)
189,577
(13,632)
40,018
556,963
570,59.5
$ 35,698 $ 746,540 $ 556,963
-142-
GENERAL FIXED ASSETS GROUP OF ACCOUNTS
' General fixed assets are those assets and capital additions of the City which are not accounted for in
Proprietary Funds.
-143-
ACCOUNT GROUP FINANCIAL SCHEDULES
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Comparative Schedule of General Fixed Assets by Source
Year Ended December 31, 1991
General Fixed Assets
Land
Buildings
Improvements other than buildings
Machinery and equipment
Construction in process
Total general fixed assets
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
Grants
Federal E.D.A. and H.U.D.
State
Total grants
Revenue sharing
Federal
Anoka County
Total revenue sharing
Balance from current revenue
and contributions
Total investments in
general fixed assets
Balance
January 1 Additions Deletions
$ 3,131,134
3,002,543
1,214,661
3,735,420
963,939
$ 12,047,697
$ 975 $ 10
10,674 -
150,031 -
263,506 117,481
482,993 482,818
$ 908,179 $ 600,309
$ 90,000 $ -
150,000 -
325,000 -
510,000 -
929,475 -
2,004,475 -
526,290 -
267,203 -
793,493 -
Exhibit l-1
Balance
December 31
$ 3,132,099
3,013,217
1,364,692
3,881,445
964,114
$ 12,355,567
$ 90,000
150,000
325,000
510,000
929,475
2,004,475
526,290
267,203
793,493
1,752,317 - - 1,752,317
51,550 - - 51,550
1,803,867 - - 1,803,867
7,445,862 908,179 600,309 7,753,732
$ 12,047,697 $ 908,179 $ 600,309 $ 12,355,567
-144-
CITY OF COLUMBIA FIGHTS, MINNESOTA
Schedule of General Fixed Assets —By Function and Activity
December 31, 1991
Function and Activity
General goverment
Council
Manager
Finance and elections
Assessing
Planning
General government buildings
Total general government
Public safety
Police /animal /civil defense
Fire
Inspections
Total public safety
Public works highways and streets
Engineering
Maintenance
Total public works
highways and streets
Sanitation
Parks and recreation
Library
Cable television
Construction in process
Total general fixed assets
-145-
$ 3,1322099 $ 3,013,217 $ 1,3642692
Improvements
Other Than
Land
Buildings
Buildings
110,920
904,408
19,396
110,920
904,408
19,396
—
—
758
—
—
2,199
—
—
2,957
—
2,820
2,801
—
18,750
532,683
—
21,570
535,484
3,000,179
1,899,222
806,855
21,000
188,017
—
$ 3,1322099 $ 3,013,217 $ 1,3642692
Exhibit 1L-2
Machinery
and Construction
Equipment in Process Total
$ 23,142
$ — $ 23,142
22,564
— 22,564
160,819
— 160,819
15,500
— 15,500
679
— 679
59,103
— 1,093,827
281,807
— 1,316,531
306,253
— 307,011
384,086
— 386,285
20,380
— 20,380
710,719
— 713,676
192,730
— 198,351
1,049,938
— 1,601,371
1,242,668
— 1,799,722
652
— 652
1,498,010
— 7,204,266
129,085
— 338,102
18,504
— 18,504
—
964,114 964,114
$ 3,881,445
$ 964,114 $ 12,355,567
-146-
CITY OF COLUMBIA FIGHTS, MINNESOTA
Schedule of Changes in General Fixed Assets —By Function and Activity
Year Faded December 31, 1991
-147-
General Fixed
Assets
Function and Activity
January 1, 1991
Additions
General government
Council
$ 23,142
$ —
Manager
19,798
2,800
Finance and elections
127,677
39,487
Assessing
15,500
—
Planning
679
—
General government buildings
1,114,508
15,011
Total general government
1,301,304
57,298
Public safety
Police/animal /civil defense
313,178
10,530
Fire
377,644
8,641
Inspections
20,380
—
Total public safety
711,202
19,171
Public works highways and streets
Engineering
194,122
15,114
Maintenance
1,429,225
182,990
Total public works
highways and streets
1,623,347
198,104
Sanitation
652
—
Parks and recreation
7,125,036
113,374
library
317,765
23,187
Cable television
4,452
14,052
Construction in process
963,939
482,993
Total general fixed assets
$ 12,047,697
$ 908,179
-147-
Exhibit N-3
16,697 307,011
— 386,285
20,380
16,697 713,676
10,885 198,351
10,844 1,601,371
21,729 1,799,722
— 652
34,144 7,204,266
2,850 338,102
— 18,504
482,818 964,114
$ 600,309 $ 12,355,567
-148-
General Fixed
Assets
Deletions
December 31, 1991
$ —
$ 23,142
34
22,564
6,345
160,819
—
15,500
—
679
35,692
1,093,827
42,071
1,316,531
16,697 307,011
— 386,285
20,380
16,697 713,676
10,885 198,351
10,844 1,601,371
21,729 1,799,722
— 652
34,144 7,204,266
2,850 338,102
— 18,504
482,818 964,114
$ 600,309 $ 12,355,567
-148-
GENERAL LONG -TERM DEBT 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 revenue.
-149-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Statement of General Long -Term Debt
As of December 31, 1991
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
Note payable to BRA
Lability for compensated absences
General Long-Term Debt Payable
General Obligation Bonds payable
Accreted interest on Capital Appreciation Bonds
Note payable to ERA
Liability for compensated absences payable
-150-
Exhibit 0-1
$ 9,603,694
10,811,471
16,609
329,244
$ 20,761,018
$ 20,239,721
175,444
16,609
329,244
$ 20,761,018
Exhibit 0-2
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Schedule of Debt Service Requirements to Maturity
As of December 31, 1991
-151-
General Obligation
Bonds
Year
Principal
Interest
1992
$ 1,180,000
$ 1,017,433
1993
1,245,000
1,024,072
1994
7,860,000
704,594
1995
1,335,000
423,141
1996
1,150,000
316,072
1997
1,155,000
250,077
1998
990,000
190,390
1999
945,000
138,168
2000
900,000
86,980
2001
860,000
37,270
2002
611,515
499,865
2003
377,918
542,082
2004
350,584
569,416
2005
327,272
592,728
2006
300,822
619,178
2007
280,545
639,455
2008
259,375
660,625
2009
111,690
313,310
$ 20,239,721
$ 8,624,856
-151-
CITY OF COLUMBIA FIGHTS, MINNESOTA
Combining Schedule of Bonds Payable
December 31, 1991
Special Assessment Bonds
General Obligation Refunding
Improvement Bonds of 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 at the option
of the issue on March 1, 1991 and
interest payment date thereafter at a
price of the principal amount thereof
plus accrued interest.
Total Special
Assessment Bonds
Tax Increment Bonds
G.O. Tax Increment Bonds Series 1984
Bonds maturing on or after March 1, 1992 will be
subject to redemption andprepaymentat the option
of the City in inverse order on March 1, 1991 and
any interest payment date thereafter at 100% of
their principal plus accrued interest.
G.O. Tax Increment Bonds of 1985 Series A
Bonds maturing on or after March 1, 1992 will
be subject to redemption and prepayment at the
option of the issuer in inverse order of serial
numbers on March 1, 1991 and any interest
payment date thereafter at a price equal to par
plus accrued interest to the date of redemption.
-152-
Interest Rates Issue Maturity
and Dates Date Date
3/01-9/01
5.75%
6.00%
6.40%
6.60%
3/01 -9/01
9.00%
9.20%
9.40%
3/01 -9/01
6/01/87 3/01/95
6/01/84 3/01/94
9/01/85 3/01/02
Remaining
Annual
Original Serial Balance
Issue Payments 1/01/91 Sold
$ 2,230,000 $
275,000 (92)
280,000 (93)
300,000 (94)
330,000 (95)
$ 1,070,000 $ —
135,000 (92)
145,000 (93)
160,000 (94)
2,100,000 —
$ 1,460,000 $
Exhibit 0=3
Interest
Rnlnnrp. Pahl in
— $ 275,000 $ 1,185,000 $ 82,746
$ 1,460,000 $ — $ 275,000 $ 1,185,000 $ 82,746
$ 565,000 $
1,850,000
-153-
— $ 125,000 $ 440,000 $ 45,999
— 1,850,000 — 80,480
(continued)
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Combining Schedule of Bonds Payable (continued)
December 31, 1991
(A) For the G.O. TI Refunding Bonds of 1987 Series A, the remaining serial payments for the years 1996 -2002, a total of
$6,550,000, is in an escrow account as a result of the 1991 refunding issue. This escrow account will be used to pay
all bonds maturing on or after March 1, 1995.
-154-
Interest Rates
Issue Maturity
and Dates
Date Date
Tax Increment Bonds (continued)
G.O. TI Refunding Bonds of 1987 Series A (A)
6/01/87 3/01/02
Bonds maturing on or after March 1, 1995 will be
3/01 -9/01
subject to redemption and prepayment in whole or
6.00%
in part in inverse order of maturity at the option
6.20%
of the issuer on March 1, 1994 and any interest
6.40%
payment date thereafter at a price of the
6.60%
principal amount thereof plus accrued interest.
6.80%
7.00%
7.10%
7.20%
7.30%
7.40%
7.50%
G.O Taxable TI Bonds of 1987
8/01/87 2/01/97
All bonds maturing on or after February 1, 1994
2/01 -8/01
shall be subject to redemption and prior payment
8.60%
in whole or in part in inverse order of maturity
8.75%
at the option of the issuer on February 1, 1993
8.90%
and any interest payment date thereafter at a
9.00%
price of par plus accrued interest.
9.10%
9.10%
(A) For the G.O. TI Refunding Bonds of 1987 Series A, the remaining serial payments for the years 1996 -2002, a total of
$6,550,000, is in an escrow account as a result of the 1991 refunding issue. This escrow account will be used to pay
all bonds maturing on or after March 1, 1995.
-154-
Original
Issue
9,090,000
1,100,000
Remaining
Annual
Serial
Payments
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)
130,000 (92)
140,000 (93)
155,000 (94)
170,000 (95)
185,000 (96)
200,000 (97)
TU. -incP
9,090,000
1,100,000
Balance
Sold Retired 12/31/91
525,000 8,565,000
-155-
120,000 980,000
Exhibit 03
Interest
Paid in
603,779
92,600
(continued)
CITY OF COLUMBIA 1MGITI'S, MINNESOTA
Combining Schedule of Bonds Payable (continued)
December 31, 1991
Interest Rates
and Dates
Tax Increment Bonds (continued)
G.O. TI Capital Appreciation Bonds of 1990
9/01
6.90%
6.95%
7.00%
7.00%
7.10%
7.10%
7.15%
7.15%
G.O. TI Refunding Bonds of 1991
All bonds maturing on or after March 1, 2000
3/01 -9/01
shall be subject to redemption and prior payment
4.75%
in whole or in part at the option of the issuer on
5.00%
March 1, 1999 and on any day thereafter at a
5.10%
price of par and accrued interest.
5.30%
5.50%
5.60%
5.70%
5.80%
Total General Obligation
Tax Increment Bonds
Total Bond Principal Payable — All Funds
-156-
Issue
Maturity
Date
Date
8/23/90
9/01/09
12/01/91 3/01/02
Remaining
Annual
Original Serial Balance
Issue Payments 1/01/91
2,399,721
391,515 (02)
377,918 (03)
350,589 (04)
327,242 (05)
300,821 (06)
280,545 (07)
259,376 (08)
111,690 (09)
6,670,000 —
835,000 (95)
965,000 (96)
955,000 (97)
990,000 (98)
945,000 (99)
900,000 (00)
860,000 (01)
220,000 (02)
2,399,721
— 6,670,000
Exhibit 03
Interest
Rntnnop Pnicl in
2,399,721 —
— 6,670,000 —
$ 15,004,721
$
6,670,000
$
2,620,000
$
19,054,721
$
822,858
$ 16,464,721
$
6,670,000
$
2,895,000
$
20,239,721
$
905,604
-157-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Schedule of Sources and Uses of Public Funds
For Housing and Redevelopment Authority Tax Increment Financing Districts
Year Ended December 31, 1991
Sources 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
Uses of funds
Land acquisition
Site improvements
or preparation costs
Installation of public
utilities and improvements
Other public improvements
Bond payments
Principal
Interest
Administrative costs
Other
Total uses of funds
Funds remaining (deficit)
Exhibit P-1
Accounted Current
Original Amended for in Year Amount
Budget Budget Prior Years Amount Remaining
$ 8,175,000 $ 21,964,721 $ 15,258,724 $ 6,670,000 $ 35,997
—
—
7,591,123
1,248,680
(8,839,803)
—
—
1,935,518
176,121
(2,111,639)
702,630
753,630
1,303,929
—
(550,299)
1,415,000
1,415,000
1,482,000
—
(67,000)
—
60,000
—
—
60,000
—
7,000
55,000
—
(48,000)
—
340,000
629,185
1,782,270
(2,071,455)
10,292,630
24,540,351
28,255,479
9,877,071
(13,592,199)
4,800,000
7,034,000
7,357,742
—
(323,742)
100,000
475,000
164,891
—
310,109
325,000
478,800
447,296
—
31,504
2,500,000
4,250,000
3,486,364
—
763,636
8,175,000
15,294,721
9,469,289
2,620,000
3,205,432
10,031,325
19,248,682
9,275,805
972,556
9,000,321
566,000
1,008,500
1,291,811
12,015
(295,326)
1,299,000
3,789,399
1,353,179
1,842,856_(l)
593,364
27,796,325
51,579,102
32,846,377
5,447,427
13,285,298
$ (17,503,695) $ (27,038,751) $ (4,590,898) $ 4,429,644 $ (26,877,497)
(1) Parkview Villa South construction ($1,664,086) and provision for reserve ($118,770) and payment to North Coast
Partners for "pay as you go" payment for 1991 ($60,000).
-158-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Note — Sources of Funds
For Housing and Redevelopment Authority
Tax Increment Financing Districts
December 31, 1991
Note (1) Sources of Funds
Real Estate Land Sales
Property
Columbia Heights Office Plaza
Evenson Properties
IaBelle Park Condo No. 1
The Gaughan Companies
Columbia Heights Mall
Evenson Properties
LaBelle Park Condo No. 2
The Gaughan Companies
LaBelle Park Condo No. 3
The Gaughan Companies
University Heights Housing
Columbia Park Medical Clinic
Columbia Park Properties
Sullivan Lake Housing
Columbia Square
Northeast Partners
Parkview Villa South Housing
-159-
Land Sale
$ 133,500
137,464
138,167
168,498
126,000
1
20,000
420,000
149,459
$ 1,293,089
Exhibit P-2
Date Total Cost *
10/81
10/81
2/82
3/82
9/82
9/84
11/85
11/87
8/88
8/90
$ 6,116,914
(continued)
Exhibit 1 -2
CITY OF COLUMBIA HEIGHTS, MP NE.SOTA
Note — Sources of Funds (continued)
For Housing and Redevelopment Authority
Tax Increment Financing Districts
December 31, 1991
Note (2) Sources of Funds
Tax Exempt Obligation Issued on Behalf of Private Entities
Development
Columbia Heights Office Plaza
Evenson Properties
Columbia Heights Mall
Evenson Properties
4111 Building South
Ruvelson and Associates
LaBelle Park Condominiums
The Gaughan Companies
Columbia Park Medical Clinic
Columbia Park Properties
Amount
Issue Type
$ 6,000,000
Commercial Redevelopment
Revenue Bonds Series 1981
4,000,000
Commercial Redevelopment
Revenue Bonds Series 1981
775,000
Commercial Redevelopment
Revenue Bonds Series 1981
9,000,000
Commercial Redevelopment
Revenue Bonds Series 1980
5,000,000
Commercial Redevelopment
Revenue Bonds Series 1985
Note (3) Sources of Funds
* Individual project costs were not available to he used in Note (1) Sources of Funds.
A total of all projects has been provided.
-160-
Fiscal
Year
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Assessed Value, Tax Capacity, and
Estimated Actual Value of All Taxable Property (A)
Years 1982 Through 1991
Real Property
Assessed/ Estimated
Tax Capacity Actual
$ 96,391,052
104,783,933
105,913,390
108,671,288
113,721,411
114,767,361
116,314,660
14,532,465
10,022,891
9,901,542
$ 399,395,650
430,688,578
445,177,400
461,786,700
476,771,500
484,669,200
507,684,800
522,002,900
533,586,700
536,614,500
Personal Property
Assessed/ Estimated
Tax Capacity Actual
$ 1,344,094
$ 3,125,800
1,333,301
3,100,700
1,426,869
3,318,300
1,426,869
3,414,600
1,500,988
3,511,600
1,547,299
3,619,300
1,679,868
3,927,600
208,985
4,017,800
212,505
4,234,500
210,051
4,258,500
Area Wide Allocation (B)
Contribution
Distribution
$ (3,908,286)
$ 8,183,307
(4,487,006)
10,544,639
(5,178,793)
12,001,080
(4,695,234)
13,636,552
(4,407,361)
14,264,696
(5,778,163)
15,650,911
(5,180,460)
17,871,259
(725,395)
2,478,750
(712,924)
2,841,497
(510,571)
3,290,306
(A) For tax collection years 1988 and prior, taxable valuation was calculated based on a specific formula applied to
estimated actual value, which resulted in an assessed valuation, which was then used as a base upon which to
spread the annual tax levies. Beginning in 1989, the State of Minnesota legislated a change in this formula. This
change is intended to reflect the burden or "tax capacity" that property is able to bear. The new formula results in a
considerably smaller taxable valuation for the City. In this table, for the purpose of comparison only, 1988 and
prior years are reported under the old system of assessed valuation, while 1989 and subsequent years are reported
in terms of tax capacity.
(B) The Metropolitan Fiscal Disparities Act was first implemented for taxes payable in 1975 for the seven Metropolitan
counties of Anoka, Carver, Dakota, Hennepin, Ramsey, Scott, and Washington. Forty percent of the increase in
commercial -- industrial (including public utility) valuation in each assessment district since 1971 is contributed to an
area -wide tax base. Using the factors of population and real property market value, a per capita distribution index
is calculated. This index is employed in determining what proportion of the valuation shall be distributed back to
each assessment district.
-161-
Total
Assessed/ Estimated
Tax Capacity Actual
$ 102,010,167
$ 402,521,450
112,174,867
433,789,278
114,162,546
448,495,700
119,039,475
465,201,300
125,079,734
480,283,100
126,187,408
488,288,500
130,685,327
511,612,400
16,494,805
526,020,700
12,363,969
537,821,200
12,891,328
540,873,000
Table I
Ratio of
Total
Assessed/ Tax
Capacity Value
to Total
Estimated
25.34%
25.86
25.45
25..59
26.04
25.84
25.54
3.14
2.30
2.38
-162-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Tax Rates
Years 1982 Through 1991
Fiscal
Table II
Year A
City
School
County
Metro
Other B
Total
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
0.15769
0.51364
0.27425
0.03360
0.00786
0.98704
1990
0.20266
0.41329
0.28846
0.03470
0.00988
0.94899
1991
0.19040
0.53249
0.31400
0.03395
0.01307
1.08391
(A) For tax collection years 1988 and prior, taxable valuation was calculated based on a
specific formula applied to estimated actual value, which resulted in an assessed
valuation, which was then used as a base upon which to spread the annual tax
levies. Beginning in 1989, the State of Minnesota legislated a change in this
formula. This change is intended to reflect the burden or "tax capacity" that property is
able to bear. The new formula results in a considerably smaller taxable valuation
for the City. In this table, for the purpose of comparison only, 1988 and prior years
are reported under the old system of assessed valuation, while 1989 and subsequent
years are reported in terms of tax capacity.
(B) Rice Creek Watershed, Mosquito Control, and Housing and Redevelopment Authority.
-163-
1
Table III
CITY OF COLUMBIA HEIGHTS, MQNNESOTA
City Tax Levy
Years 1982 Through 1991
-164-
Bonds
Fiscal
City Levy
General
Police
Fire
and
Year
Total
Fund
Relief
Relief
Interest
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
1,757,486
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
—
1990
2,882,056
2,760,455
64,549
57,052
—
1991
3,144,069
2,963,869
98,606
81,594
—
-164-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Tax Levies and Tax Collections
Years 1982 Through 1991
* General Fund tax levy has been adjusted by the Homestead and Agricultural Credit Aid
(property tax replacement) which is a revenue from other agencies and has been incorporated
into Table VI.
-165-
Collections
Percentage
Collections
of Current
of Levy
of Prior
Year's Taxes
Collected
Year's Taxes
Year
Total Tax
During Fiscal
During Fiscal
During Fiscal
Total
Collected
Levy *
Period
Period
Period
Collections
1982
$ 1,262,780
$ 1,236,497
97.9%
$ 19,120
$ 1,255,617
1983
1,249,602
1,208,840
96.7
26,702
1,235,542
1984
1,285,324
1,253,908
97.6
20,640
1,274,548
1985
1,286,626
1,256,387
97.6
25,184
1,281,571
1986
1,395,303
1,365,014
97.8
15,494
1,380,508
1987
1,624,073
1,605,851
98.9
41,633
1,647,484
1988
1,800,335
1,762,573
97.9
18,395
1,780,968
1989
1,811,862
1,785,190
98.5
13,601
1,798,791
1990
2,079,001
2,057,446
99.0
3,249
2,060,695
1991
2,226,208
2,183,800
98.1
31,274
2,215,074
* General Fund tax levy has been adjusted by the Homestead and Agricultural Credit Aid
(property tax replacement) which is a revenue from other agencies and has been incorporated
into Table VI.
-165-
Ratio
of Total
Collections
to Tax Levy
Accumulated
Delinquent
Taxes
0.9943:1
$ 12,888
0.9887:1
49,644
0.9916:1
36,290
0.9961:1
51,764
0.9894:1
53,140
1.014:1
55,101
0.9892:1
53,374
0.9928:1
79,005
0.9912:1
81,891
0.9950:1
88,809
Table IV
Ratio of
Accumulated
Delinquent
Taxes to
Current Year
Tax Levy
0.0102:1
0.0400:1
0.02823:1
0.04023:1
0.03808:1
0.03393:1
0.02965:1
0.04360:1
0.03939:1
0.03989:1
-166-
CITY OF COLUMBIA HEIGHTS, NIINNFESOTA
Special Assessment Collections
Years 1982 Through 1991
* The parking ramp at 4025 Van Buren Street N.E. 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.
-167-
Percentage
Current
of Current
Special
Special
Delinquent
Assessments
Current
Assessments
Special
Becoming
Special
Collected
Assessments
Fiscal
Due During
Assessments
During Fiscal
Collected During
Year
Fiscal Period
Collected
Period
Fiscal Period (A)
1982
$ 217,810
$ 107,815
49.5%
$ 94,298
1983
289,011
153,792
53.2
130,298
1984
299,680
186,803
62.3
119,372
1985
236,686
126,780
53.6
140,515
1986
179,812
99,460
55.3
118,938
1987
201,700
121,911
60.4
86,741
1988 *
197,641
110,447
55.9
50,534
1989 *
218,860
142,076
64.9
95,361
1990 *
250,682
180,388
72.0
74,581
1991 *
252,190
134,588
53.4
39,016
* The parking ramp at 4025 Van Buren Street N.E. 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.
-167-
Table V
Total
Special
Assessments
Deferred Special
Assessments
Delinquent
Collected
Balance
at End of
During
at End of
Fiscal Period
Fiscal Period
Fiscal Period
$ 94,702
$ 301,367
$ 1,553,493
152,744
313,682
1,048,215
154,154
236,474
857,906
132,031
92,257
640,691
110,886
223,656
697,945
108,729
- 236,510
616,994
149,795
143,565
1,149,826
97,030
219,588
637,341
109,928
309,544
591,415
77,005
210,029
565,432
-168-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
General Governmental Revenues By Source (A)
Last Ten Years
Fiscal
Special
Licenses
Charges for
Year
Taxes
Assessments (C)
and Permits
Intergovernmental
Services (B)
1982
$ 1,257,941
$ —
$ 148,773
$ 2,280,564
$ 551,506
1983
1,301,329
—
156,410
2,990,623
664,689
1984
1,807,252
—
215,942
2,470,131
706,135
1985
2,352,593
—
139,470
2,625,357
289,116
1986
2,275,432
—
187,809
2,978,923
351,897
1987
2,733,934
—
131,351
2,972,407
408,062
1988
2,924,601
—
163,384
3,738,312
516,018
1989
2,839,936
736,662
142,365
4,014,920
611,516
1990
3,215,975
463,410
147,587
4,096,113
661,116
1991
3,474,483
277,171
164,945
3,249,669
424,546
Notes:
(A) Includes General, Special Revenue, and Debt Service Fund Types.
(B) The years 1983 -1984 include Refuse Collection and Disposal.
(C) Beginning in 1987, the Special Assessment Fund Type was eliminated and special assessment
collections were recorded in the Debt Service Fund Type.
(D) From 1988 to 1990, the Housing and Redevelopment Authority is blended as a component unit
of the City. Beginning in 1991, the Housing and Redevelopment Authority is discretely
presented as a separate column.
-169-
Table VI
Fines and
Forfeitures
Interest
Miscellaneous (D)
Total
$ 47,073
$ 227,390
$ 214,278
$ 4,727,525
51,870
185,501
272,650
5,623,072
51,009
222,454
93,363
5,566,286
104,741
265,318
81,461
5,858,056
108,158
369,277
80,057
6,351,553
123,813
533,564
560,378
7,463,509
112,254
596,581
1,179,042
9,230,192
128,188
1,229,806
453,820
10,157,213
123,505
1,039,625
385,013
10,132,344
116,386
395,986
238,615
8,341,801
-170-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
General Governmental Expenditures by Function (A)
Last Ten Years
Notes:
(A) Includes General, Special Revenue, and Debt Service Fund Types.
(B) The years 1982-1984 include Refuse Collection and Disposal.
(C) From 1988 to 1990, the Housing and Redevelopment Authority is blended as a
component unit of the City. Beginning in 1991, the Housing and Redevelopment
Authority is discretely presented as a separate column.
-171-
Highways
Parks
Fiscal
General
Public
and
and
Year
Government
Safety
Streets
Sanitation (B)
Recreation
1982
$ 532,444
$ 1,454,404
$ 538,106
$ 446,685
$ 634,395
1983
546,692
1,537,897
515,240
476,518
625,030
1984
563,717
1,654,871
564,101
531,174
753,430
1985
850,356
1,799,231
627,733
81,415
788,111
1986
885,343
1,885,654
560,003
75,854
865,369
1987
919,991
1,915,895
632,746
80,285
1,001,069
1988
1,034,970
2,218,196
563,432
90,760
1,206,281
1989
1,114,211
2,303,702
785,818
122,304
1,400,850
1990
1,429,627
2,551,543
762,642
184,627
1,514,853
1991
1,285,382
2,538,215
891,133
108,108
954,236
Notes:
(A) Includes General, Special Revenue, and Debt Service Fund Types.
(B) The years 1982-1984 include Refuse Collection and Disposal.
(C) From 1988 to 1990, the Housing and Redevelopment Authority is blended as a
component unit of the City. Beginning in 1991, the Housing and Redevelopment
Authority is discretely presented as a separate column.
-171-
library
Debt
Service
$ 188,343
$ 1,042,879
265,803
973,412
212,379
1,307,737
221,821
786,312
263,650
1,205,856
261,583
1,807,407
353,241
1,754,031
333,188
2,399,342
368,363
2,469,400
390,251
3,950,683
Table VII
Other C
Total
$ 117,965
$ 4,955,221
850,006
5,790,598
90,463
5,677,872
291,916
5,446,895
208,951
5,950,680
405,451
7,024,427
1,999,737
9,220,648
1,108,743
9,568,158
1,298,528 10,579,583
352,510 10,470,518
-172-
Table VIII
CITY OF COLUMBIA FIGHTS, MINNESOTA
Principal City Officials
Year Ended December 31, 1991
Name
Official Title
Mayor and Council
Assistant to City Manager
Edward M. Carlson
Mayor
Donald J. Murzyn, Jr.
Mayor —Elect
Crary L Peterson
Councilmember
Bruce G. Nawrocki
Councilmember
Sean T. Clerkin
Councilmember
Robert W. Ruettimann
Councilmember
Administration
Stuart W. Anderson
City Manager
Linda Magee
Assistant to City Manager
William Elrite
City Clerk— Treasurer, Finance Director
June Johnston
Assistant Finance Director
Phil Suckerman
Liquor Operations Manager
Gregg Woods
City Attorney
Fred Salsbury
Public Works Director, City Engineer
Leonard Olson
Acting Chief of Police
Charles Kewatt
Chief of Fire
Evelyn Nygaard
Building Inspector
Martin Gavie
Plumbing Inspector
Dennis Joriman
Electrical Inspector
Donald Jolly
Superintendent of Public Works
Mark Casey
Recreation Services Director
Rebecca Loader
Librarian
-173-
Table IX
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Miscellaneous Statistical Facts
1991
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
1982
503
1983
540
1984
525
1985
508
1986
513
1987
556
1988
535
1989
473
1990
486
1991
484
Estimated Construction Cost for Issued Permits
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
1990
5,198,200
1991
4,894,021
-174-
Table IX
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Miscellaneous Statistical Facts (continued)
1991
Fire Protection
13
Number of Stations
1
Number of Employees
1
Full -time
8
Volunteer
26
Police Protection
1
Number of Stations
1
Number of Employees
24
Parks
City Parks
13
Playgrounds
11
County Park
1
Schools
Senior High
1
Junior High
1
Elementary
3
Parochial Elementary
1
Employees (as of December 31, 199 1)
8,175
Regular
107
Part -Time and Temporary
427
534
Elections
Registered Voters —Last City General Election
11,744
Number of Votes Cast —Last City General Election
2,303
Percentage of Registered Voters Voting
19.6%
Population
1900
123
1920
2,968
1930
5,613
1940
6,053
1950
8,175
1960
17,533
1970
23,997
1975 (Mid- Decade Census)
23,316
1980 (Census)
20,029
1985
19,540
1990 (Census)
18,910
1991
18,910
-175-
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Principal Taxpayers
December 31, 1991
Source: Anoka County Assessor's Office
-176-
$ 1,633,854
Table X
Percentage
of Total
3.4%
2.0
1.4
1.4
1.3
1.3
0.5
0.5
0.5
0.4
12.7%
Tax
Taxpayer
Type of Business
Capacity
Zaidan Holdings, Inc.
Office Building
$ 438,533
Kraus - Anderson, Inc.
Construction
256,137
Minnegasco
Utility
184,605
Malan Construction Company
Retail (K -Mart)
182,330
Columbia Park Properties
Medical Building
166,211
Medtronic Inc.
Medical Manufacturing
161,669
Individual
Apartment Building
68,976
Individual
Apartment Building
59,135
Cheery Company
Apartment Building
58,608
North Coast Partners
Shopping Mall
57,650
Source: Anoka County Assessor's Office
-176-
$ 1,633,854
Table X
Percentage
of Total
3.4%
2.0
1.4
1.4
1.3
1.3
0.5
0.5
0.5
0.4
12.7%
Table XI
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Statement of Legal Debt Margin
December 31, 1991
Market Value of Taxable Property $ 542,920,400
Debt limit (2% of Market Value) (Note A) $ 10,858,408
Amount of Debt Applicable to Debt limit
Total Bonded Debt $ 20,239,721
Less (Note B)
Tax Increment Bonds 19,154,721
Special Assessment Bonds 1,085,000
Net Debt Applicable to Debt Limit —
Legal Debt Margin $ 10,858,408
Note A: M.S.A. Section 475.53 (Limit on 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% of the taxable 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 benefited thereby, including those which are
general obligations of the municipality 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 water works systems and public
lighting, heating or power systems, and of any combination thereof or for any other public '
convenience from which a revenue is or may be derived.
6. Not applicable. '
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.
8. 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. ,
-177- 1
Table XII
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Computation of Direct and Overlapping Debt
General Obligation Bonds
December 31, 1991
-178-
Net General
Percentage
Amount
Obligation
Applicable
Applicable
Jurisdiction
Debt
to City
to City
Direct
City of Columbia Heights
$ 20,239,721
100.0%
$ 20,239,721
Overlapping
Anoka County
56,798,344
7.4
4,203,077
Metropolitan Council
45,795,000
0.5
228,975
Regional Transit District
437,385
0.6
2,624
$ 123,270,450
$ 24,674,397
-178-
1-11-pro:+1u
CITY OF COLUMBIA IEIIGHTS, MINNESOTA
Property Value, Construction, and Bank Deposits
Last Ten Fiscal Years
* Amount expressed in thousands.
(1) Estimated assessed (1982-1987) and tax capacity (1988 -1991) values from Table I.
(2) Source: Federal Banking Directory
Note: Deposits listed are for Northeast State Bank, Marquette Bank Minneapolis, Norwest Bank, and
First Community Credit Union
(3) Figures for First Community Credit Union are not included for 1989.
-179-
Property Value
(1)
Construction
Fiscal
Number
Bank
Year
Real
Personal
Total
of Units
Value
Deposits (2)
1982
$ 96,391,052
$ 1,344,094
$ 97,735,146
503
$ 13,757,934
$ -
1983
104,783,933
1,333,301
106,117,234
540
7,829,198
-
1984
105,913,390
1,426,869
107,340,259
525
12,059,779
-
1985
108,671,288
1,426,869
110,098,157
508
4,938,226
-
1986
113,721,411
1,500,988
115,222,399
513
13,269,300
-
1987
114,767,361
1,547,299
116,314,660
556
4,215,085
-
1988
116,314,660
1,679,868
117,994,528
535
8,916,756
-
1989
14,532,465
208,985
14,741,450
473
5,180,247
7,018,831 (3)
1990
10,022,891
212,505
10,235,396
486
5,198,200
10,311,528
1991
9,901,542
210,051
10,111,593
484
4,894,021
Not Available
* Amount expressed in thousands.
(1) Estimated assessed (1982-1987) and tax capacity (1988 -1991) values from Table I.
(2) Source: Federal Banking Directory
Note: Deposits listed are for Northeast State Bank, Marquette Bank Minneapolis, Norwest Bank, and
First Community Credit Union
(3) Figures for First Community Credit Union are not included for 1989.
-179-
1
MALLOY PRINCIPALS
KARNOWSKI
ffmRADOSEVICH KENNETH W. MALLOY, CPA
THOMAS A. KARNOWSKI, CPA
&CO.,P.A. PAUL A. RADOSEVICH, CPA
INDEPENDENT AUDITOR'S REPORT
1 ON SCHEDULE OF
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, 1991, and have issued our report thereon dated March 13, 1992. 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
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 statements. 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.
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 statements and, in our opinion, is fairly presented
in all material respects in relation to the general purpose financial statements taken as a whole.
1
March 13, 1992
_ 410 PARK NATIONAL BANK BUILDING -180-
5353 WAYZATA BOULEVARD
MINNEAPOLIS, MINNESOTA 55416
TELEPHONE: 612 -545 -0424
TELEFAX: 612- 545 -0569
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Schedule of Federal Financial Assistance
Year Ended December 31, 1991
Federal Grantor/Pas�Through Grantor/Program Title
City of Columbia Heights Grants
Federal Emergency Management Agency
Passed Through Anoka County
Emergency Management Assistant Grant
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
Total CT-DA Number 14.156
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
Current Year Activity
Revenue
Federal Federal
CFDA Grant
Number Amount Federal Expenditures
83.503 $ 4,178 $ 3,697 $ 3,697
14.156 2,500 2,500 2,500
14.156 40,339 40,339
42,839
14.219 349,418 90,176
14.230 1,225 1,225
$ 137,937
40,339
42,839
90,176
1,225
$ 137,937
Note 1: The federal grant amount includes the current year entitlement plus any available carryovers from the prior
year. Current year entitlements may extend beyond a twelve -month period.
-181-
MALLOY
KARNOWSKI
RADOSEVICH
&CD.,P.A.
1
INDEPENDENT AUDITOR'S REPORT ON THE
1 INTERNAL CONTROL STRUCTURE IN ACCORDANCE
WITH GOVERNMENT AUDITING STANDARDS
City Council and Residents
City of Columbia Heights
Columbia Heights, Minnesota
PRINCIPALS
KENNETH W. MALLOY, CPA
THOMAS A. KARNOWSKI, CPA
PAUL A. RADOSEVICH, CPA
We have audited the general purpose financial statements of the City of Columbia Heights, Minnesota,
as of and for the year ended December 31, 1991, and have issued our report thereon dated March 13,
1992.
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
statements are free of material misstatement.
In planning and performing our audit of the general purpose financial statements of the City of Columbia
Heights, Minnesota, for the year ended December 31, 1991, we considered its internal control structure
in order to determine our auditing procedures 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, Minnesota, is responsible for establishing and
maintaining an internal control structure. In fulfilling this responsibility, 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 safeguarded 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.
1 (continued)
' _ INE 410 PARK NATIONAL BANK BUILDING -182- MIX 41 =06em
5353 WAYZ A TA BOULEVARD
MINNEAPOLIS, MINNESOTA 55416
TELEPHONE: 612- 545 -0424
' TELEFAX: 612- 545 -0569
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,
external financial reporting, and grant administration.
For all of the internal control structure categories listed above, we obtained an understanding of the
design of relevant policies and procedures and determined whether they have been placed in operation,
and we assessed control risk.
We noted certain matters involving the internal control structure and its operation 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 judgement, could
adversely affect the entity's ability to record, process, summarize, and report financial data consistent
with the assertions of management in the general purpose financial statements.
' Because of the limited size of the office staff of the Housing and Redevelopment Authority, the Housing
and Redevelopment Authority 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 the Housing and Redevelopment Authority 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 conditions that are also considered to be material weaknesses as defined above. However, we
believe that the reportable condition described above is a material weakness. This condition was
considered in determining the nature, timing, and extent of the procedures to be performed in our audit
of the City of Columbia Heights, Minnesota's general purpose financial statements for the year ended
December 31, 1991, and this report does not affect our reports thereon dated March 13, 1992.
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 for the information of the City Council, management, the cognizant audit agency,
and other federal agencies. However, this report is a matter of public record and its distribution is not
limited.
March 13, 1992
-183-
' MALLOY
KARNOWSKI PRINCIPALS
RADOSEVICH KENNETH W. , CPA
THOMAS A. KARNOWARNOWSKI, CPA
$CO.,P.A. PAUL A. RADOSEVICH, CPA
' INDEPENDENT AUDITOR'S SINGLE AUDIT
REPORT ON THE INTERNAL CONTROL
STRUCTURE USED IN ADMINISTERING
IFEDERAL FINANCIAL ASSISTANCE PROGRAMS
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,
as of and for the year ended December 31, 1991, and have issued our report thereon dated March 13,
1 1992.
We conducted our audit in accordance with generally accepted auditing standards; Government Auditing
Standards, issued by the Comptroller General of the United States; and Office of Management and Budget
(OMB) Circular A -128, Audits of State and Local Governments. Those standards and OMB Circular
A -128 require that we plan and perform the audit to obtain reasonable assurance about whether the
general purpose financial statements are free of material misstatement.
In planning and performing our audit for the year ended December 31, 1991, we considered the City's
internal control structure in order to determine our auditing procedures for the purpose of expressing our
opinion on the City's general purpose financial statements and not to provide assurance on the internal
control structure. This report addresses our consideration of internal control structure policies and
procedures relevant to compliance with requirements applicable to federal financial assistance programs.
We have addressed policies and procedures relevant to our audit of the general purpose financial
statements in a separate report dated March 13, 1992.
I(continued)
-184-
_ 410 PARK NATIONAL BANK BUILDING
III 5353 WAYZATA BOULEVARD
MINNEAPOLIS, MINNESOTA 55416
TELEPHONE: 612- 545 -0424
TELEFAX: 612- 545 -0569
The management of the City of Columbia Heights, Minnesota, is responsible for establishing and
maintaining an internal control structure. In fulfilling this responsibility, 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 safeguarded against loss from unauthorized use or
disposition, 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, and that federal financial assistance programs are managed in compliance
with applicable laws and regulations. Because of inherent limitations in any internal control structure,
errors, irregularities, or instances of noncompliance 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.
' For the purpose of this report, we have classified the significant internal control structure policies and
procedures used in administering federal financial assistance programs in the following categories:
' General requirements
Political activity
Davis -Bacon Act
° Civil rights
Cash management
° Federal financial reports
° Allowable costs /cost principles
° Drug -free workplace
Administrative requirements
' Specific requirements
° Types of services
° Eligibility
Reporting
1 ° Cost allocation
Special requirements, if any
Claims for Advances and Reimbursements
For all of the internal control structure categories listed above, we obtained an understanding of the
design of relevant policies and procedures and determined whether they have been placed in operation,
and we assessed control risk.
During the year ended December 31, 1991, the City had no major federal financial assistance programs
and expended 65% of its total federal financial assistance under the following nonmajor federal financial
assistance program: Community Development Block Grant (CDBG).
(continued)
-185-
' We performed tests of controls, as required by OMB Circular A -128, to evaluate the effectiveness of the
design and operation of internal control structure policies and procedures that we have considered relevant
to preventing or detecting material noncompliance with specific requirements, general requirements, and
requirements governing claims for advances and reimbursements and amounts claimed or used for
matching that are applicable to the aforementioned nonmajor program. Our procedures were less in scope
than would be necessary to render an opinion on these internal control structure policies and procedures.
Accordingly, we do not express such an opinion.
We noted certain matters involving the internal control structure and its operation 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 judgement, could
adversely affect the City's ability to administer federal financial assistance programs in accordance with
applicable laws and regulations.
Because of the limited size of the office staff of the Housing and Redevelopment Authority, the Housing
and Redevelopment Authority 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 the Housing and Redevelopment Authority 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 one or more of the
internal control structure elements does not reduce to a relatively low level the risk that noncompliance
with laws and regulations that would be material to a federal financial assistance program 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 conditions that are also considered to be material weaknesses as defined above. However, we
believe that the reportable condition described above is a material weakness.
This condition was considered in determining the nature, timing, and extent of the procedures to be
performed in our audit of the City of Columbia Heights, Minnesota's general purpose financial statements
and of its compliance with requirements applicable to its federal financial assistance programs for the year
ended December 31, 1991, and this report does not affect our reports thereon dated March 13, 1992.
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 for the information of the City Council, management, the cognizant audit agency,
and other federal agencies. However, this report is a matter of public record and its distribution is not
limited.
0 Z 7 , /0//
March 13, 1992
1 -186-
' MALLOY
KARNOWSKI
ZMRADOSEVICH
&CO.,P.A.
INDEPENDENT AUDITOR'S COMPLIANCE REPORT
BASED ON AN AUDIT OF THE GENERAL PURPOSE
IFINANCIAL STATEMENTS PERFORMED IN
PRINCIPALS
KENNETH W. MALLOY, CPA
THOMAS A. KARNOWSKI, CPA
PAUL A. RADOSEVICH, CPA
ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
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, 1991, and have issued our report thereon dated March 13, 1992.
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
statements 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. Accordingly, we
do not express such an opinion.
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 for the information of the City Council, management, the cognizant audit agency,
and other federal agencies. However, this report is a matter of public record and its distribution is not
limited.
c
March 13, 1992
14��: 1
410 PARK NATIONAL BANK BUILDING -187-
5353 WAYZATA BOULEVARD
MINNEAPOLIS, MINNESOTA 55416
TELEPHONE: 612- 545 -0424
TELEFAX: 612- 545 -0569
MALLOY
KARIVOWSKI PRINCIPALS
MMRADOSEVICH KENNETH W. MALLOY, CPA
THOMAS A. KARNOWSKI, CPA
&CO.,P.A. PAUL A. RADOSEVICH, CPA
INDEPENDENT AUDITOR'S SINGLE AUDIT
REPORT ON COMPLIANCE WITH THE
GENERAL REQUIREMENTS APPLICABLE
TO FEDERAL FINANCIAL ASSISTANCE PROGRAMS
' City Council and Residents
City of Columbia Heights
Columbia Heights, Minnesota
j
We have audited the general purpose financial statements of the City of Columbia Heights, Minnesota,
Ifor the year ended December 31, 1991, and have issued our report thereon dated March 13, 1992.
We have applied procedures to test the City of Columbia Heights' compliance with the following
requirements applicable to each of its federal financial assistance programs, which are identified in the
Schedule of Federal Financial Assistance, for the year ended December 31, 1991: political activity,
Davis -Bacon Act, civil rights, cash management, federal financial reports, allowable costs /cost principles,
Drug -Free Workplace Act, and administrative requirements.
1 Our procedures were limited to the applicable procedures described in the Office of Management and
Budget's, Compliance Supplement for Single Audits of State and Local Governments. 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 the requirements listed in the preceding paragraph.
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 second paragraph of this report. With respect to items
not tested, nothing came to our attention that caused us to believe that the City of Columbia Heights had
not complied, in all material respects, with those requirements.
This report is intended for the information of the City Council, management, the cognizant audit agency,
and other federal agencies. However, this report is a matter of public record and its distribution is not
limited.
;�V ", /1� -
March 13, 1992
410 PARK NATIONAL BANK BUILDING -188-
5353 WAYZATA BOULEVARD
MINNEAPOLIS, MINNESOTA 55416
TELEPHONE: 612 -545 -0424
TELEFAX: 612- 545 -0569
i
INDEPENDENT AUDITOR'S REPORT ON COMPLIANCE
WITH SPECIFIC REQUIREMENTS APPLICABLE TO
NONMAJOR RELATED FEDERAL FINANCIAL
ASSISTANCE PROGRAM TRANSACTIONS
' City Council and Residents
City of Columbia Heights
Columbia Heights, Minnesota
PRINCIPALS
KENNETH W. MALLOY, CPA
THOMAS A. KARNOWSKI, CPA
PAUL A. RADOSEVICH, CPA
We have audited the general purpose financial statements of the City of Columbia Heights, Minnesota,
for the year ended December 31, 1991, and have issued our report thereon dated March 13, 1992.
In connection with our audit of the general purpose financial statements of the City of Columbia Heights,
and with our study and evaluation of the 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 certain nonmajor federal financial assistance programs for the
year ended December 31, 1991. 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, reporting, cost allocation, special tests, and provisions and claims for advances and
reimbursements 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's 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 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 requirements.
This report is intended for the information of the City Council, management, the cognizant audit agency,
and other federal agencies. However, this report is a matter of public record and its distribution is not
limited.
March 13, 1992
-189-
410 PARK NATIONAL BANK BUILDING
5353 WAYZATA BOULEVARD
MINNEAPOLIS, MINNESOTA 55416
TELEPHONE: 612- 545 -0424
TELEFAX: 612- 545 -0569
MALLOY
KARNOWSKI
ffMRAD0Sr=vicF4
&.CO.,P.A.
INDEPENDENT AUDITOR'S REPORT ON COMPLIANCE
WITH SPECIFIC REQUIREMENTS APPLICABLE TO
NONMAJOR RELATED FEDERAL FINANCIAL
ASSISTANCE PROGRAM TRANSACTIONS
' City Council and Residents
City of Columbia Heights
Columbia Heights, Minnesota
PRINCIPALS
KENNETH W. MALLOY, CPA
THOMAS A. KARNOWSKI, CPA
PAUL A. RADOSEVICH, CPA
We have audited the general purpose financial statements of the City of Columbia Heights, Minnesota,
for the year ended December 31, 1991, and have issued our report thereon dated March 13, 1992.
In connection with our audit of the general purpose financial statements of the City of Columbia Heights,
and with our study and evaluation of the 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 certain nonmajor federal financial assistance programs for the
year ended December 31, 1991. 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, reporting, cost allocation, special tests, and provisions and claims for advances and
reimbursements 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's 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 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 requirements.
This report is intended for the information of the City Council, management, the cognizant audit agency,
and other federal agencies. However, this report is a matter of public record and its distribution is not
limited.
March 13, 1992
-189-
410 PARK NATIONAL BANK BUILDING
5353 WAYZATA BOULEVARD
MINNEAPOLIS, MINNESOTA 55416
TELEPHONE: 612- 545 -0424
TELEFAX: 612- 545 -0569
' MALLOY
KARNOWSKI PRINCIPALS
MRAOOSEVICH KENNETH W. MALLOY, CPA
THOMAS A. KARNOWSKI, CPA
&CO.,P.A. PAUL A. RADOSEVICH, CPA
INDEPENDENT AUDITOR'S
IREPORT ON COMPLIANCE
WITH MINNESOTA STATE LAWS
' AND REGULATIONS
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,
as of and for the year ended December 31, 1991, and have issued our report thereon dated March 13,
1992.
We conducted our audit in accordance with generally accepted auditing standards and the provisions of
the Minnesota Legal Compliance Audit Guide for Local Government 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 Minnesota Legal Compliance Audit Guide for Local Government 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, Minnesota,
' 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 for the information of the City Council, management, and the cognizant audit
agency. However, this report is a matter of public record and its distribution is not limited.
March 13, 1992
410 PARK NATIONAL BANK BUILDING -190-
5353 WAYZATA BOULEVARD
MINNEAPOLIS, MINNESOTA 55416
TELEPHONE: 612- 545 -0424
TELEFAX: 612- 545 -0569
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Schedule of Findings
Year Ended December 31, 1991
Program /Law
Minnesota Statutes Section 471.38,
Subdivision 2
Resolution of Prior Year Findin
Minnesota Statutes Section 471.38, Subdivision 2
requires that each declaration for payment be signed
to the effect that such account, claim, or demand is
just and correct and that no part of it has been paid.
During 1991, the Housing and Redevelopment
Authority began to use this declaration.
-191-