HomeMy WebLinkAboutComprehensive Annual Financial Report 12/31/2000COMPREHENSIVE ANNUAL FINANCIAL REPORT
OF THE
CITY OF LINO LAKES, MINNESOTA
FOR THE YEAR ENDED
DECEMBER 31, 2000
Prepared By: Finance Department
Alan Rolek, Director of Finance
Paula Schloer, Accountant
CITY OF LINO LAKES, MINNESOTA
TABLE OF CONTENTS
Page
Reference Number
I. INTRODUCTORY SECTION
— Principal City Officials 1
Organization Chart 2
Letter of Transmittal 3
— Certificate of Achievement for Excellence in Financial Reporting 11
— II. FINANCIAL SECTION
Independent Auditor's Report 12
General Purpose Financial Statements
bow
Combined Balance Sheet - All Fund Types and Account Groups
Combined Statement of Revenue, Expenditures and Changes in
—
Fund Balance - All Governmental Fund Types
Combined Statement of Revenue, Expenditures and Changes in
—
Fund Balance - Budget and Actual - General and
Special Revenue Fund Types
Combined Statement of Revenue, Expenses and Changes in Retained
Earnings - All Proprietary Fund Types
Combined Statement of Cash Flows - All Proprietary Fund Types
Notes to Financial Statements
Statement 1 13
Statement 2 15
Statement 3 16
Statement 4 17
Statement 5 18
19
CITY OF LINO LAKES, MINNESOTA
TABLE OF CONTENTS
Page
Reference Number
Combining, Individual Fund and Account Group Financial Statements
General Fund:
Balance Sheet Statement 6 41
Statement of Revenue, Expenditures and Changes in
Fund Balance - Budget and Actual Statement 7 42
Special Revenue Funds:
Combining Balance Sheet Statement 8 48
Combining Statement of Revenue, Expenditures and Changes in
Fund Balance Statement 9 49
Program Recreation — Statement of Revenue, Expenditures and
Changes in Fund Balance - Budget and Actual Statement 10 50
Debt Service Funds:
Combining Balance Sheet Statement 11 51
Combining Statement of Revenue, Expenditures and Changes
in Fund Balance Statement 12 53
Capital Project Funds:
Combining Balance Sheet Statement 13 55
Combining Statement of Revenue, Expenditures and Changes
in Fund Balance Statement 14 61
Enterprise Funds:
Combining Balance Sheet Statement 15 67
Combining Statement of Revenue, Expenses and Changes in
Retained Earnings Statement 16 68
Combining Statement of Cash Flows Statement 17 69
Agency Funds:
Combining Balance Sheet Statement 18 70
Combining Statement of Changes in Assets and Liabilities Statement 19 71
CITY OF LINO LAKES, MINNESOTA
TABLE OF CONTENTS
Page
Immn Reference Number
General Fixed Asset Account Group:
` Schedule of General Fixed Assets - By Source Statement 20 72
Schedule of General Fixed Assets - By Function and Activity Statement 21 73
Schedule of Changes in General Fixed Assets - By Function and
Activity Statement 22 74
General Long -Term Debt Account Group:
Schedule of General Long -Term Debt Statement 23 75
Supplementary Financial Information
Combined Schedule of Indebtedness
Exhibit 1 76
Schedule of Deferred Tax Levies Exhibit 2 78
Debt Service Payments to Maturity - All Bonds Exhibit 3 79
Insurance in Force
Exhibit 4 81
Taxable Valuations, Tax Levies and Tax Rates Exhibit 5 82
III. STATISTICAL SECTION
General Fund:
Expenditures By Function - Last Ten Fiscal Years Table 1 83
Revenue By Source - Last Ten Fiscal Years Table 2 84
Property Tax Levies and Collections - Last Ten Fiscal Years Table 3 85
Special Assessment Levies and Collections - Last Ten Fiscal Years Table 4 86
Ratio of Annual Debt Service Expenditures for General Bonded
Debt to Total General Expenditures - Last Ten Fiscal Years Table 5 87
Assessed and Estimated Actual Value and Net Bonded Debt
Per Capita - Last Ten Fiscal Years Table 6 88
CITY OF LINO LAKES, MINNESOTA
TABLE OF CONTENTS
Page
Reference Number
Property Tax Rates - Direct and Overlapping Government -
Last Ten Fiscal Years Table 7 90
Ratio of Net Bonded Debt to Assessed Value and Net Bonded
Debt Per Capita - Last Ten Fiscal Years Table 8 91
Computation of Direct and Overlapping Debt including Debt Ratios Table 9 92
Computation of Legal Debt Margin Table 10 93
Schedule of Revenue Bond Coverage - Water Fund -
Last Nine Fiscal Years Table 11 94
Principal Taxpayers Table 12 95
Property Value, Construction Permits and Bank Deposits -
Last Ten Fiscal Years Table 13 96
Demographic Statistics Table 14 97
Miscellaneous Statistics Table 15 98
I.
INTRODUCTORY
SECTION
CITY OF LINO LAKES, MINNESOTA
PRINCIPAL CITY OFFICIALS
December 31, 2000
_ Mayor:
John Bergeson
MMID
Elected Officials
Term Expires
December 31, 2001
Council Members:
Caroline Dahl December 31, 2001
Jeff Reinert December 31, 2001
Donna Carlson December 31, 2003
Jeff O'Donnell December 31, 2003
Appointed Personnel
City Administrator Linda Waite Smith
Director of Finance Alan Rolek
Director of Public Safety David Pecchia
Director of Community Development *
Director of Public Service Rick DeGardner
Director of Administration Daniel Tesch
_
Accountant
Paula Schloer
Vow
* Position was not filled as of 12/31/00.
City of Lino Lakes Organizational Chart
Citizens
Honorable Mayor
and
City Council
Commissions
Cable
Parks and Recreation
Economic Development
Planning and Zoning
Fire
Environmental
City Administrator
City Clerk•
Professional Consultants
Engineering
Attorney
Fiscal
Public Services
Public Safety
Parks
Public Works
Recreation
Administration
Police
Emergency Management
Inspections
Community Development
Human Resources
Administrative Services
2
Finance
Planning
Economic Development
Engineering
Environmental Services
Accounting
Management Infomration Systems
Utility Billing
Ilmns
■
May, 2001
Honorable Mayor
Members of the City Council
City of Lino Lakes, Minnesota
The Comprehensive Annual Financial Report of the City of Lino Lakes, Minnesota is submitted herein for the
year ended December 31, 2000. The City is responsible for the accuracy and completeness of the presentation
including all disclosures. The Finance department believes that the data presented is accurate in all material
aspects and presents the financial position and results of operations of the City in a fair manner.
—
The organization, form and contents of this report were prepared in accordance with the standards prescribed by
the Government Finance Officer' s Association of the United States and Canada, the American Institute of
Certified Public Accountants, the State Auditor's Office, the State of Minnesota and the City Charter.
The Comprehensive Annual Financial Report consists of three parts:
a. An Introductory Section - contains the letter of transmittal, table of contents, elected and administrative
officials and organizational chart.
b. A Financial Section - contains the independent auditors report, notes to the financial statements,
combined financial statements and the combining and individual fund and account group statements and
supplemental schedules.
c. A Statistical Section - contains various unaudited tables showing the financial trends of the City and
miscellaneous statistics.
We believe that the data presented is accurate in all material aspects. It is presented in a manner that fairly
reflects the financial operations of the City and is easily read for maximum understanding of the financial matters
presented. The notes are considered an essential part in providing insight into the information presented.
Reliable financial information requires an establishment of accounting records that are adequately supported by
—
internal accounting controls. The City believes that existing internal accounting controls are adequate to provide
reasonable assurance that City assets are safeguarded against loss from unauthorized use or disposition and that
the financial records are reliable for the preparation of the financial statements.
IMMO
600 Town Center Parkway, Lino3Lakes, Minnesota 55014-1182
Phone: 651 - 982 -2400 • Fax: 651 - 982 -2499 • TDD: 651 - 982 -2410
The City Charter grants the City Council full authority over the financial matters of the City. The City
Administrator has the responsibility of submitting the annual budget to the City Council. The budget is adopted
by resolution and the amounts can not increase beyond the estimated receipts except to the extent that actual
receipts exceed the estimate.
THE REPORTING ENTITY
In accordance with the Governmental Accounting Standards Board requirements, the financial reporting entity
includes all funds and account groups of the City as well as all of its component units. Component units are
legally separate entities for which the primary government is financially accountable.
Blended component units, although legally separate entities, are in substance, part of the primary government's
operations and are included as part of the primary government. Accordingly, the Economic Development
Authority is reported as a Special Revenue Fund of the primary government.
The City provides a full range of municipal services. These services include: general government, public safety
(police & fire), public works (streets & fleet), parks and recreation, conservation of natural resources
(environmental & solid waste abatement), public improvements, providing and maintaining sanitary and storm
sewer, water infrastructure, and two enterprise funds, the water and sewer funds.
ECONOMIC CONDITION AND OUTLOOK
The City of Lino Lakes is a growing community within the County of Anoka. It covers an area of 33 square
miles and has a population of nearly 17,000. Within the City's borders lies the 2,550 acre Rice Creek Chain of
Lakes Regional Park. Access to St. Paul and Minneapolis is provided by I -35W and I -35E.
The economic development effort established in 1993 by the city council has begun to reverse dependence on
residential property taxes. Since 1993, the city has added more than $27 million in additional
commercial /industrial market value. The Apollo Business Park on I -35W and the Clearwater Creek Development
Center on I -35E continue to attract industrial development. A new business park on Lake Drive near the Town
Center is expected to be improved for development in 2001.
With the many wetlands and regional parks, environmental issues are important to the city. In 1999, the city
approved its first Preservation Development subdivision, a large step forward in the implementation of the city's
overall environmental inventory and management plan. This plan will preserve the valuable open spaces and
wetlands within the city.
MAJOR INITIATIVES
Commercial development in Lino Lakes has been the focus of a city- initiated development called the Town
Center on the I -35W interchange area. This innovative project incorporates mixed -use development that includes
professional buildings, civic facilities, commercial development and a mix of housing types. The city received a
$220,000 Livable Communities grant in 1998 from the Metropolitan Council to hire Peter Calthorpe Associates,
a planner on the cutting edge of urban and suburban neighborhood development, to refine the city's plan for the
Town Center. An additional grant of $450,000 was awarded in 2000 to begin implementation of the housing
initiatives outlined in the Calthorp plan.
4
— The Village, the Southeast quadrant of the Town Center, is the site of the newly completed Lino Lakes Civic
Complex. This $6 million facility that houses city hall, police and a Centennial School District program, is a
critical component to the success of a mixed use Town Center. The location of the complex is part of the
— economic development effort in providing a strong civic focus within the mixed -use center. The Civic Complex
recently received an award from the League of Minnesota Cities for innovation and excellence in housing,
economic development and community spaces.
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The city is considering participating in the construction costs of a YMCA in The Village section of the Town
Center. The YMCA is anticipating building a new recreation facility in the near future.
FINANCIAL INFORMATION
The City's policy is to invest all available moneys at competitive rates in accordance with Minnesota law.
Investments are made by minimizing credit and market risks while maintaining a competitive yield. Funds are
invested in certificates of deposit, commercial paper and U.S. government agencies. Cash is pooled in one
account to provide maximum return.
General Fund
The General Fund accounts for all revenues and expenditures necessary to provide basic governmental operations
of the City.
General Fund revenues totaled $5,613,395 in 2000 compared to $5,343,453 in 1999. The breakdown of revenues
is shown in the following table:
2000 1999 $ Change % Change
General property taxes $3,306,057 $2,962,664 $343,393 11.59%
— Licenses and permits 884,746 823,719 61,027 7.41%
Intergovernmental revenues 702,606 940,053 (237,447) (25.26 %)
Special Assessments 5,405 -0- 5,405 100.00%
Charges for services 272,145 278,510 (6,365) (2.29 %)
Fines and forfeits 124,458 87,434 37,024 42.35%
Interest on Investments 140,592 27,655 112,937 408.38%
Miscellaneous 177,386 223,418 (46,032) (20.60 %)
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Total $5,613,395 $5,343,453 $2_69494/ 5.05%
General property taxes increased in 2000 reflecting the growth in the tax base of the City and the additional
service needs arising from that growth. Licenses and permits increased due to the continued surplus of building
permits issued for new housing and commercial /industrial units in the City. State and federal disaster aid
received in 1999 is reflected directly in the decrease in Intergovernmental revenues in 2000, as well as direct
reduction in homestead credit state aids. Fines and forfeitures increased due to additional enforcement employed
throughout the year. The sale of the former police facility and greater than expected tree refunds inflated
miscellaneous revenues in 1999, therefore, a reduction in this revenue area was realized in 2000. Investment
earnings increased appreciably in 2000 due to a changing interest rate environment. Additionally, in accordance
with GASB 31, which requires investments be carried at fair market value, the recording of unrealized gains had
a substantial impact on interest revenue for the year.
5
General fund expenditures totaled $5,513,148 in 2000 compared to $5,237,554 in 1999. The breakdown of
expenditures is shown in the following table.
2000 1999 $ Change % Change
General Government $1,770,528 $1,771,069 $ (541) (0.03 %)
Public Safety 2,158,346 1,958,169 200,177 10.22%
Public Works 786,420 628,070 158,350 25.21%
Parks and Recreation 655,863 647,163 8,700 1.34%
Conservation of Natural Resources 141,991 233,083 (91,092) (39.08 %)
Total
$5,513,148 $5,237,554 $275,594 5.26%
The settlement of three of the four collective bargaining unit contracts in 1999 had a direct impact on
expenditures throughout the General Fund in 2000. Despite this, the costs in the General Government area were
substantially the same in 2000 as in 1999. Public safety increased mainly due to the addition of a sergeant
position and other personnel changes, capital outlay expenditures and increased fire contract costs. Public
Works costs were higher in 2000 due to labor costs, higher contractual costs for street repair, increased cost of
motor fuels and increased capital expenditures. The increase in Parks and recreation expenses was primarily due
labor costs. Storm damage sustained in 1998 was the primary reason for higher expenditures in the Conservation
of Natural Resources area in 1999, and the reduction in these costs is reflected in 2000.
The fund balance of the General fund continues to grow as shown below:
Expenditure Fund Balance Percent
Budget Beginning of Year of Budget
1991 2,268,639 1,169,624 51.56%
1992 2,552,835 1,265,236 49.56%
1993 2,829,202 1,406,296 49.71%
1994 3,169,862 1,756,659 55.42%
1995 3,551,957 1,870,934 52.67%
1996 3,966,738 2,086,231 52.59%
1997 4,400,087 2,723,025 61.89%
1998 5,524,646 3,057,912 55.35%
1999 5,252,474 3,411,332 64.95%
2000 5,601,671 3,434,474 61.31%
The fund balance for the year increased $107,122 for a total ending fund balance of $3,541,596.
Special Revenue Funds
The Economic Development Authority Fund accounts for personal expenses of the City Council when acting as
the Economic Development Authority.
The Community Development Block Grant Fund accounts for expenditures associated with funds allocated
through Anoka County from the Federal Government to fund allowable projects.
The Program Recreation Fund accounts for the activities of the Recreation Department for self - supporting
programs.
6
Debt Service Funds
Improvement Bonds Funds account for the accumulation of resources for debt service payments made on general
obligation debt issued for local improvement projects.
The Certificates of Indebtedness Fund accounts for debt service payments made on debt issued to finance capital
purchases. These certificates are financed internally.
The Public Project Revenue Bonds Fund and Public Project Refunding Bond Fund were established to account
for debt service payments related to the construction of the City's fire hall and civic complex.
The Lease Revenue Bond Fund was established to account for debt service payments related to the construction
of the City's Civic Complex.
Capital Project Funds
The Closed Bond Fund was established to account for all excess bond receipts.
The Dedicated Parks Fund accounts for revenues and expenditures for the acquisition and construction of park
projects.
The Area and Unit Charges Fund accounts for water and sewer area assessments to be used for the construction
of City utility infrastructure.
The Surface Water Management was established to help fund the costs associated with surface water issues and
- planning.
The Town Center /Civic Center Project Funds were established to account for costs associated with the creation
of the "Village ", including: infrastructure, civic buildings and development of the property for commercial use.
Tax Increment Funds were established to account for projects financed with tax increments.
MINIm
Enterprise Funds
The Water Fund accounts for the operations of the municipal water system. The following table illustrates the
operations:
2000 1999 $ Change % Change
Operating Revenues $718,822 $555,368 $163,454 29.43%
Operating Expenses 495,183 380,928 114,255 29.99%
— (Excluding Depreciation)
Operating Income (Loss)
$223,639 $174,440 $ 49,199 28.20%
Water revenues increased due to increased number of users on the system, resulting in greater consumption.
Installation of a telephone meter reading system caused increases in personnel, supply and contractual costs over
▪ the previous year.
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7
The Sewer Fund accounts for the operations of the municipal sanitary sewer system. The following table
illustrates the operations:
Operating Revenues
Operating Expenses
(Excluding Deprecation)
Operating Income (Loss)
2000 1999 $ Change % Change
$875,850 $713,523 $162,327 22.75%
641,729 549,162 92,567 16.86%
$234,121 $164,361 $69,760 42.44%
As with the Water Fund, additional users resulted in increased revenues for the year. Personnel costs,
Metropolitan Council Environmental Services charges for sewage treatment, and system maintenance and repair
costs driven by installation of a telephone meter reading system were responsible for the increase in expenses
from the previous year.
AGENCY FUNDS
The Contractors Deposits Fund accounts for the pass - through costs of developer financed projects within the
City.
The Pending Assessments Fund accounts for the receipt of assessment prepayments prior to certification. This
fund is closed annually at certification time. The balance in this fund is the result of assessments being collected
that will not be certified to Anoka County until 2001.
The Investment Fund accounts for the pooling of all the City's money that is invested throughout the year.
Interest on investments is recorded in this fund before allocating to all funds. Interest earned in 2000 was
$1,000,915 compared to $245,589 in 1999. The increase in interest income resulted from changing market
conditions and unrealized gains booked as a result of increased market value of securities held, in compliance
with GASB 31.
GENERAL FIXED ASSETS ACCOUNT GROUP
General fixed assets are those assets used for general governmental functions only. This does not include
enterprise funds. Depreciation is not recorded on the general fixed assets.
GENERAL LONG -TERM DEBT ACCOUNT GROUP
This group reports the current assets available in the Debt Service Funds and recognizes the amounts to be
provided through future tax levies, assessments and tax increments.
CASH MANAGEMENT
Cash temporarily idle during the year was invested in certificates of deposit, commercial paper, and obligations
of the U.S. Treasury. The City's investment policy's primary objective is safety of principal. Therefore, all
deposits were either insured by Federal depository insurance or were collateralized as required by State Statute.
The City Council reviews the investment policy annually and last amended it in 1998.
8
— DEBT ADMINISTRATION
At year -end, the City had a number of debt issues outstanding. These issues included $6,911,450 of general
- obligation bonds and equipment certificates, $13,165,000 of general obligation improvement bonds with special
assessments pledged and $4,340,000 of revenue bonds. The City also had contracts for deed in the amount of
$1,209,352. During 2000, the City issued $325,450 of equipment certificates internally, the proceeds of which
— were used to purchase equipment.
RISK MANAGEMENT
The City's general property and liability coverage is provided through the League of Minnesota Cities Trust
(LMCIT) and worker's compensation is provided through State Fund Mutual.
At the beginning of the insurance year, the city deposits with State Fund a premium determined by calculating
estimated payroll and applying experience modification ratios. An audit is performed at the end of the insurance
year, which may produce a refund or an adjustment due. State Funds reserves and rates are reviewed annually by
—
an actuary to assure that the program remains financially strong.
INDEPENDENT AUDIT
MOM
Minnesota State law requires that cities over 2,500 population submit annual financial statements attested by a
certified public accountant or the State Auditor to the State Auditor. The firm Larson, Allen, Weishair and Co.,
lima
LLP was retained by the City Council to perform the audit. Generally accepted auditing standards and the
standards set forth in the Comptroller General of the United States' Government Auditing Standards, were used
by the auditors in conducting the engagement. In addition, the requirements of the Federal Single Audit Act of
— 1984 and the related U.S. Office of Management and Budget's Circular A -133 have been met by the City. The
auditor's report on the general purpose financial statements and combining and individual fund statements and
schedules is included in the financial section of the report. The auditor's reports on internal controls and
— compliance with applicable laws and regulations can be found in a separately issued legal compliance report.
CERTIFICATE OF ACHIEVEMENT FOR EXCELLENCE IN FINANCIAL REPORTING
The Government Finance Officers Association of the United State and Canada (GFOA) awards the Certificate of
Achievement for excellence in financial reporting to cities that meet certain criteria. A governmental unit must
— publish an easily readable and efficiently organized comprehensive annual financial report, the contents of which
conform to program requirements. The City of Lino Lakes received this award for the year ended December 31,
1999. The City is submitting the 2000 report to GFOA for consideration of the Certificate of Achievement for
— Excellence in Financial Reporting. We believe our current report continues to conform to the program
requirements.
9
ACKNOWLEDGMENTS
The preparation of this report could not have been accomplished without the dedicated services of the Finance
Department, auditors and other city staff.
I also want to express my appreciation to the Mayor and City Council for their responsible policies involving the
financial operation of the City.
Respectfully submitted,
10
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of Lino Lakes,
Minnesota
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
December 31, 1999
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 (CAFRs) achieve the highest
standards in government accounting
and financial reporting.
11
Executive Director
II.
FINANCIAL
SECTION
L arsQnAllen-
W e i s h a i r & Co., L L P
ACHIEVE THE DESIRED EFFECT'.
Business Consultants i Certified Public Accountants
INDEPENDENT AUDITOR'S REPORT
Honorable Mayor and
Members of the City Council
City of Lino Lakes, Minnesota
We have audited the accompanying general - purpose financial statements of the City of Lino Lakes, Minnesota as
of and for the year ended December 31, 2000 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 and the standards applicable to
financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United
States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether
the 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 Lino Lakes, Minnesota as of December 31, 2000, and the results of its
operations and cash flows of its proprietary fund types for the year then ended in conformity with generally
accepted accounting principles.
In accordance with Government Auditing Standards, we have also issued a report dated March 29, 2001 on our
consideration of the City of Lino Lakes Minnesota's internal control over financial reporting and our tests of its
compliance with certain laws, regulations, contracts, and grants.
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 group financial statements, schedules and tables listed in
the Table of Contents are presented for purposes of additional analysis and are not a required part of the general
purpose financial statements of the City of Lino Lakes, Minnesota. Such information, except for the statistical
tables on which we express no opinion, has been subjected to the auditing procedures applied in our 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.
Now
Austin, Minnesota
March 29, 2001
12
LARSON, ALLEN, WEISHAIR & CO., LLP
GENERAL PURPOSE FINANCIAL STATEMENTS
CITY OF LINO LAKES, MINNESOTA
COMBINED BALANCE SHEET -
ALL FUND TYPES AND ACCOUNT GROUPS
December 31, 2000
Governmental Fund Types
Special Debt Capital
Assets General Revenue Service Project
Cash and investments $ 3,262,693 $ 53,882 $ 1,987,282 $ 5,662,499
Cash and investments with escrow agent - 2,184,015 -
Accrued interest receivable - 34,247 -
Accounts receivable 77,823 - 15,422
Deposits receivable - -
Due from other governmental units 356,154 2,673 -
Interfund receivable 6,263,850
Taxes receivable:
Delinquent 31,804 9,769 -
Due from County 59,852 13,008 115,075
Delinquent tax increment - 8,858
Special assessments receivable:
Delinquent 1,151 6,626
Deferred 925,569 2,309,972
Due from County - - 3,781 7,259
Prepaid items 105,052 1,017 -
Advances to Other Funds - 582,916
Land held for resale 989,506
Fixed assets (net of accumulated depreciation) -
Amount available in Debt Service Fund
Amount to be provided for retirement of GLTD -
Total assets
Liabilities, equity and other credits
$ 3,893,378 $ 57,572
$ 5,158,822 $ 15,961,983
Liabilities:
Interfund payable $ $ 4,760 $ 104,533 $ 6,029,990
Accounts payable 173,408 1,374 44,915 448,996
Salaries payable 136,239 1,189 -
Retainage payable - 10,235
Accrued interest payable
Deposits payable
Due to other governmental units 5,003 -
Advances from Other Funds - - 582,916
Deferred revenue 37,132 936,489 2,326,814
Bonds payable - -
Contract for deed payable
Compensated absences payable
Total liabilities 351,782 7,323 1,085,937 9,398,951
Equity and other credits:
Contributed capital
Invested in general fixed assets
Retained earnings - unreserved
Fund balance (deficit):
Reserved 105,052 1,017 4,101,453 1,572,422
Unreserved:
Designated 3,436,544 51,319 10,061,453
Undesignated - (2,087) (28,568) (5,070,843)
Total equity and other credits 3,541,596 50,249 4,072,885 6,563,032
Total liabilities, equity and other credits $ 3,893,378
The accompanying notes are an integral part of these financial statements.
$ 57,572 $ 5,158,822 $ 15,961,983
13
Statement 1
Proprietary Fiduciary Account Groups Totals
Fund Type Fund Type General General Long- (Memorandum Only)
Enterprise Agency Fixed Assets Term Debt 2000 1999
$ 1,278,630 $ 528,256 $
650,367
12,734 126,030
- 206,892
- 10,520
NEM
Ipme
298,990
346
6,671
26,730,505
$ 29,185,135 $ 664,806
$
$ 12,773,242 $ 11,441,581
2,834,382 2,844,386
173,011 158,082
300,137 390,042
10,520 10,520
358,827 337,866
6,263,850 6,024,110
41,573 23,199
187,935 74,062
8,858 5,848
7,777 11,947
3,534,531 4,877,170
11,386 7,406
112,740 120,109
582,916 -
- 989,506 989,506
12,780,630 - 39,511,135 37,766,238
- 4,072,885 4,072,885 3,818,103
17,537,953 17,537,953 18,853,001
$ 12,780,630 $ 21,610,838 $ 89,313,164 $ 87,753,176
$ - $ 124,567 $
95,505 58,653
8,398 -
97,276 -
481,586
1,217 -
4,340,000
29,838
'- 4,572,234 664,806
23,117,561
1,495,340
24,612,901
-
$ 29,185,135
$ 664,806
12,780,630
$ $ 6,263,850 $ 6,024,110
822,851 1,115,334
145,826 225,739
10,235 351,661
97,276 99,086
481,586 427,586
6,220 13,038
582,916
3,300,435 4,613,627
20,076,450 24,416,450 25,499,570
1,209,352 1,209,352 1,459,352
325,036 354,874 274,399
21,610,838 37,691,871 40,103,502
23,117,561 22,389,099
12,780, 630 11, 690, 618
1,495,340 953,013
5,779,944 4,929,202
13, 549,316 13,204,552
(5,101,498) (5,516,810)
12,780,630 51,621,293 47,649,674
$ 12,780,630 $ 21,610,838 $ 89,313,164 $ 87,753,176
CITY OF LINO LAKES, MINNESOTA
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE - ALL GOVERNMENTAL FUND TYPES
For the Year Ended December 31, 2000
Statement 2
Revenue:
General property taxes
Tax increments
Licenses and permits
Intergovernmental
Special assessments
Charges for services
Fines and forfeits
Investment earnings
Refunds and reimbursements
Miscellaneous
Total revenue
Expenditures:
Current:
General government
Public safety
Public works
Parks and recreation
Conservation of natural resources
Capital outlay:
General government
Public safety
Public works
Parks and recreation
Conservation of natural resources
Debt service:
Principal
Interest and fiscal charges
Refunding bond issuance costs
Construction/acquisition
Total expenditures
Revenue over (under) expenditures
Other fmancing sources (uses):
Operating transfer in
Operating transfer out
Contract for deed proceeds
Bond proceeds
Payment to refunding bond escrow
Total other fmancing sources (uses)
Net increase (decrease) in fund balance
Fund balance
Beginning of year, as previously stated
Prior period adjustment
Beginning of year, as restated
Residual equity transfer in
Residual equity transfer out
Fund balance - December 31
Special Debt Capital
General Revenue Service Project
$ 3,306,057 $ $ 875,247 $ -
- 1,032,592
884,746 -
702,606 19,109 80,741 -
5,405 - 838,062 2,262,892
272,145 194,628 151,522
124,458
140,592 3,193 164,574 621,818
58,200 - 61,776
119,186 112,500 333,959
5,613,395 216,930 2,071,124 4,464,559
Totals
(Memorandum Only)
2000 1999
$ 3,734,898
837,036
823,719
1,047,725
2,519,598
562,359
87,434
230,921
119,055
353,554
10,316,299
$ 4,181,304
1,032,592
884,746
802,456
3,106,359
618,295
124,458
930,177
119,976
565,645
12,366,008
1,707,992 19,672 1,418,127 3,145,791 2,644,205
2,126,696 - - 2,126,696 1,951,820
766,230 - 72,559 838,789 627,925
647,882 180,970 - 828,852 755,215
106,543 - 106,543 218,981
62,536 33,781 96,317 143,970
31,650 155,136 186,786 179,498
20,190 135,461 155,651 101,906
7,981 135,162 143,143 1,137,140
35,448 - 35,448 14,102
5,513,148 200,642
100,247 16,288
56,875
(50,000)
6,875
107,122 16,288
1,198,570 250,000 1,448,570 1,190,734
1,037,740 4,142 1,041,882 1,029,874
- - 46,205
725,663 725,663 8,775,128
2,236,310 2,930,031 10,880,131 18,816,703
(165,186) 1,534,528 1,485,877 (8,500,404)
419,968 50,000 526,843 948,297
(797,352) (847,352) (997,663)
600,000
325,450 325,450 3,000,539
(961,098)
419,968 (421,902) 4,941 2,590,075
254,782 1,112,626 1,490,818 (5,910,329)
3,434,474 33,961 3,818,103 5,330,406 12,616,944 18,527,273
120,000 120,000
3,434,474 33,961 3,818,103 5,450,406 12,736,944 18,527,273
- 440,942 440,942
(440,942) (440,942)
$ 3,541,596 $ 50,249
The accompanying notes are an integral part of these financial statements.
$ 4,072,885 $6,563,032 $ 14,227,762 $ 12,616,944
15
CITY OF LINO LAKES, MINNESOTA
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
• GENERAL AND SPECIAL REVENUE FUND TYPES
For the Year Ended December 31, 2000
Statement 3
Special Revenue Fund -
General Program Recreation
Over Over
(Under) (Under)
Budget Actual Budget Budget Actual Budget
Revenue:
General property taxes $ 3,333,877 $ 3,306,057 $ (27,820) $ $ $
Licenses and permits 642,243 884,746 242,503
Intergovernmental 672,521 702,606 30,085
Special Assessments 5,405 5,405
Charges for services 366,500 272,145 (94,355) 172,760 194,628 21,868
_
Fines and forfeits 100,000 124,458 24,458
Investment earnings 87,531 140,592 53,061 3,193 3,193
Refunds and reimbursements 42,000 58,200 16,200
Miscellaneous 72,792 119,186 46,394
Total revenue 5,317,464 5,613,395 295,931 172,760 197,821 25,061
Expenditures:
Current:
General government 1,764,714 1,707,992 (56,722)
- Public safety 2,132,836 2,126,696 (6,140)
Public works 772,488 766,230 (6,258) - -
Parks and recreation 660,906 647,882 (13,024) 151,015 180,970 29,955
▪ Conservation of natural resources 118,795 106,543 (12,252)
Capital outlay.
General government 44,450 62,536 18,086
�, Public safety 12,732 31,650 18,918
Public works 15,000 20,190 5,190
Parks and recreation 55,750 7,981 (47,769)
Conservation of natural resources 24,000 35,448 11,448
Total expenditures 5,601,671 5,513,148 (88,523) 151,015 180,970 29,955
Revenue over (under) expenditures (284,207) 100,247 384,454 21,745 16,851 (4,894)
Other financing sources (uses):
Operating transfers from other funds
Operating transfers to other funds
56,875 56,875
(50,000) (50,000)
Net increase (decrease) in fund balance $ (277,332) 107,122 $ 384,454 $ 21,745 16,851 $ (4,894)
- Fund balance
Beginning balance 3,434,474 35,485
llama
Fund balance - December 31 $ 3,541,596 $ 52,336
The accompanying notes are an integral part of these financial statements.
CITY OF LINO LAKES, MINNESOTA
COMBINED STATEMENT OF REVENUE, EXPENSES AND
AND CHANGES IN RETAINED EARNING - ALL PROPRIETARY FUND TYPES
For The Year Ended December 31, 2000
Statement 4
Enterprise Funds
2000 1999
Operating revenue:
Water sales $ 717,617 $ 453,092
Sewer charges 875,850 679,020
Other operating revenue 1,205 136,779
Total operating revenue 1,594,672 1,268,891
Operating expenses:
Personal services 262,284 238,667
Materials and supplies 257,187 137,852
Contractual services 124,547 98,557
Repair and maintenance 1,568
MCES sewer charges 396,800 368,937
Depreciation:
Purchased assets 104,578 102,777
Contributed assets 504,805 412,573
Utilities 86,257 71,367
Other 9,837 13,142
Total operating expenses 1,746,295 1,445,440
Net income (loss) from operations
(151,623) (176,549)
Other income (expense):
Investment earnings 70,738 14,668
Special assessments 35,510 42,010
Bond interest (234,812) (228,000)
Paying agent fees (2,800) (2,800)
Total other income (expense) (131,364) (174,122)
Net income (loss) before operating transfers (282,987) (350,671)
Operating transfers:
Operating transfer from General Fund 49,366
Operating transfer from Capital Project Fund 320,509
Total operating transfers 320,509 49,366
Net income (loss) 37,522 (301,305)
Credit arising from transfer of depreciation
to contributions from property owners 504,805 412,573
Retained earnings - January 1 953,013 841,745
Retained earnings - December 31 $ 1,495,340 $ 953,013
The accompanying notes are an integral part of these financial statements.
17
- CITY OF LINO LAKES, MINNESOTA
COMBINED STATEMENT OF CASH FLOWS
ALL PROPRIETARY FUND TYPES
—
For the Year Ended December 31, 2000
Now
Statement 5
Enterprise Funds
2000 1999
Cash flows from operating activities:
Operating income $ (151,623) $ (176,549)
▪ Adjustments to reconcile operating income to
net cash flows from operating activities:
Depreciation 609,383 515,350
— Change in assets and liabilities:
Decrease (increase) in receivables 6,341 42,116
Decrease (increase) in prepaid items (1,921) 31,079
loom Increase (decrease) in payables 61,692 29,498
Net cash flows from operating activities 523,872 441,494
▪ Cash flows from noncapital financing activities:
Operating transfer from General Fund
Operating transfer from Capital Project Funds
'— Net cash flows from noncapital financing activities
320,509
320,509
49,366
49,366
Cash flows from capital and related financing activities:
Principal paid on revenue bonds (210,000) (205,000)
Proceeds from issuance of refunding bonds - 680,000
Investment with escrow agent 2,528 (652,895)
Collection of special assessments 35,510 42,010
Interest and paying agent fees on revenue bonds (237,612) (230,800)
Acquisition of fixed assets (31,001) (43,423)
Net cash flows from capital and related financing activities (440,575) (410,108)
Cash flows from investing activities:
Investment earnings 70,738 14,668
Net increase (decrease) in cash and cash equivalents 474,544 95,420
Cash and cash equivalents - January 1 804,086 708,666
Cash and cash equivalents - December 31 $ 1,278,630 $ 804,086
— Noncash investing, capital and financing activities:
- Water and Sewer lines in the amount of $1,233,267 and $4,611,608 were contributed to the Water and Sewer Fund
in 2000 and 1999 respectively.
■
The accompanying notes are an integral part of these financial statements.
18
CITY OF LINO LAKES, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2000
Note 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The City of Lino Lakes is a public corporation formed under Minnesota Statute 410. As such, the City is under
home rule charter regulations and applicable statutory guidelines.
The financial statements of the City of Lino Lakes have been prepared in conformity with generally accepted
accounting principles as applied to governmental units by the Governmental Accounting Standards Board
(GASB). The following is a summary of the significant accounting policies:
A. FINANCIAL REPORTING ENTITY
As required by generally accepted accounting principles, the financial statements of the reporting entity
include those of the City of Lino Lakes and its component units. A component unit is a legally separate
entity for which the primary government is financially accountable, or for which the exclusion of the
component unit would render the financial statements of the primary government misleading. The
criteria used to determine if the primary government is financially accountable for a component include
whether or not the primary government appoints the voting majority of the potential component unit's
board, is able to impose its will on the potential component unit, is in a relationship of financial benefit
or burden with the potential component unit, or is fiscally depended upon by the potential component
unit.
COMPONENT UNITS
In conformity with generally accepted accounting principles, the financial statements of component
units have been included in the financial reporting entity either as blended component units or as
discretely presented component units.
Blended Component Units.
The Economic Development Authority (EDA) of Lino Lakes is an entity legally separate from the City.
However, for financial reporting purposes, the EDA is reported as if it were part of the City's
operations because the members of the City Council serve as commission members. The EDA does not
issue separate fmancial statements.
The Housing and Redevelopment Authority (HRA) of Lino Lakes is an entity legally separate from the
City. However, for fmancial reporting purposes, the HRA is reported as if it were part of the City's
operations because the members of the City Council serve as commission members. The HRA has not
yet incurred any financial activity.
B. FUND ACCOUNTING
The accounting system of the City is organized and operated on a fund basis. A fund is defined as a
fiscal and accounting entity with a self - balancing set of accounts recording cash and other fmancial
resources, together with all related liabilities and residual equities or balances, and changes therein,
which are segregated for the purpose of carrying on specific activities or attaining certain objectives in
accordance with special regulations, restrictions or limitations.
19
CITY OF LINO LAKES, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2000
Note 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
The following types of funds and account groups are employed by the City:
GOVERNMENTAL FUNDS
General Fund - to account for all financial resources except those required to be accounted for
in another fund.
Special Revenue Funds - to account for the proceeds of specific revenue sources that are legally
restricted to expenditures for specified purposes.
Debt Service Funds - to account for the accumulation of resources for, and the payment of,
general long -term debt principal, interest, and related costs.
Capital Project Funds - to account for financial resources to be used for the acquisition or
construction of major facilities other than those financed by Proprietary Funds.
PROPRIETARY FUNDS
Enterprise Funds - to account for operations: (a) that are financed and operated in a manner
similar to private business enterprises - where the intent of the governing body is that the costs
(expenses, including depreciation) of providing goods or services to the general public on a
continuing basis be financed or recovered primarily through user charges; or, (b) where the
governing body has decided that periodic determination of revenues earned, expenses incurred,
and/or net income is appropriate for capital maintenance, public policy, management control,
accountability, or other purposes.
FIDUCIARY FUNDS
Trust and Agency Funds - to account for assets held by a governmental unit in a trustee capacity
or as an agent for individuals, private organizations, other governmental units, and/or other
funds. These include (a) expendable trust funds, (b) nonexpendable trust funds, (c) pension
trust funds, and (d) agency funds.
ACCOUNT GROUPS
The governmental fund types are designed to account for the financial flow of a particular fund;
therefore, they generally include only current assets and current liabilities on their balance
sheets. The City maintains two account groups to account for noncurrent assets and long -term
liabilities as follows:
General Fixed Assets - The City maintains a separate account group which contains the fixed
assets used in the governmental fund type operations. They are assets of the City as a whole
and not of individual funds.
General Long -Term Debt - This account group contains the long -term obligations of the City
including general obligation bonds, certificates of indebtedness, contracts payable and
compensated absences payable. These long -term liabilities are expected to be financed by the
governmental funds.
20
CITY OF LINO LAKES, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2000
Note 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
C. BASIS OF ACCOUNTING
The accounting and reporting treatment applied to a fund is determined by its measurement focus. All
governmental funds are accounted for on a current financial resources measurement focus. This means
that only current assets and current liabilities are generally included on their balance sheets.
Governmental fund operating statements present increases (revenues and other financing sources) and
decreases (expenditures and other financing uses) in net current assets.
All Proprietary Funds are accounted for on a flow of economic resources measurement focus. This
means that all assets and all liabilities (whether current or noncurrent) associated with this activity are
included on their balance sheets. Their reported fund equity (net total assets) is segregated into
contributed capital and retained earnings components. Proprietary fund type operating statements
present increases (revenues) and decreases (expenses) in net total assets.
The modified accrual basis of accounting is followed by the City for its Governmental Funds and
Fiduciary- Agency Funds. Under this method of accounting, revenues are recognized when they
become susceptible to accrual - that is, when they become both measurable and available to finance
expenditures of the fiscal period. "Measurable" means the amount of the transaction can be determined
and "available" means collectible within the current period or soon enough thereafter to be used to pay
liabilities of the current period. Major revenue sources susceptible to accrual include property taxes
(excluding delinquent taxes received over 60 days after year end), special assessments,
intergovernmental revenues, charges for services and interest on investments. Major revenue sources
not susceptible to accrual include licenses and permits, fees, and miscellaneous revenues. Such
revenues are recorded as revenue when received because they are not measurable until collected.
Expenditures are generally recognized in the accounting period when the fund liability is incurred,
except for interest on general long -term debt which is recognized when due.
The accrual basis of accounting is followed for the Proprietary Funds. Under this method of
accounting, revenues are recognized during the accounting period in which they are earned and become
measurable and expenses are recognized in the accounting period in which they are incurred if
measurable. Governmental Accounting Standards Board (GASB) Statement #20, Accounting and
Financial Reporting for Proprietary Funds and Other Governmental Entities that Use Proprietary
Funds, provides proprietary activities with a choice of authoritative guidance issued after
November 30, 1989. The City of Lino Lakes has elected to follow GASB pronouncements exclusively
after that date.
The City reports deferred revenue on its combined balance sheet. Deferred revenues arise when a
potential revenue does not meet both the "measurable" and "available" criteria for recognition m the
current period. Deferred revenues also arise when resources are received by the government before it
has a legal claim to them, as when grant monies are received prior to the incurrence of qualifying
expenditures. In subsequent periods, when both revenue recognition criteria are met, or when the
government has a legal claim to the resources, the liability for deferred revenue is removed from the
combined balance sheet and revenue is recognized.
The City has reported as deferred revenues the amount of $3,300,435, which consists of the following:
Oak Wilt Suppression and misc. $ 6,686
Property taxes receivable 50,431
Special assessments receivable 3,243,318
Total $ 3,300,435
21
CITY OF LINO LAKES, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2000
Note 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
D. BUDGETS
Budgets are adopted on a basis consistent with generally accepted accounting principles. Annual
appropriated budgets are adopted for the General Fund and the Program Recreation Special Revenue
Fund.
Budgeted amounts are reported as originally adopted, or as amended by the City Council. Individual
amendments were not material in relation to the original appropriations, which were adjusted.
Budgeted expenditure appropriations lapse at year end.
Encumbrance accounting, under which purchase orders, contracts, and other commitments for the
expenditure of monies are recorded in order to reserve that portion of the appropriation, is not
employed by the City because it is not presently considered necessary to assure effective budgetary
control or to facilitate effective cash management.
Reconciliation of Budgetary Basis to GAAP Basis
Governmental funds presented on Statement 3 are the General Fund and the Program Recreation
Special Revenue Fund. The following is a reconciliation of fund balances on a budgetary basis as
presented on Statement 3, to the GAAP basis as presented on Statement 2:
Special
Revenue
Funds
Governmental Fund:
Fund Balance — Budgetary Basis $ 52,336
Fund Balances — Non - Budgeted Funds (deficit) (2,087)
Fund Balances — GAAP Basis $ 50,249
E. LEGAL COMPLIANCE - BUDGETS
The City follows these procedures in establishing the budgetary data reflected in the financial
statements:
1. The City Administrator submits to the City Council a proposed operating budget (including
the General Fund and Program Recreation Special Revenue Fund) for the fiscal year
commencing the following January 1. The operating budget includes proposed expenditures
and the means of financing them.
2. Public hearings are conducted to obtain taxpayer comments.
3. The budget is legally enacted through passage of a resolution on a departmental basis and can
be expended by each department based upon detailed budget estimates for individual
expenditure accounts.
4. The City Administrator is authorized to transfer appropriations within any department budget.
Additional interdepartmental or interfund appropriations and deletions are or may be
authorized by the City Council with fund (contingency) reserves or additional revenues.
5. Formal budgetary integration is employed as a management control device during the year for
the General Fund.
22
eimm
Vow
CITY OF LINO LAKES, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2000
Note 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
6. Legal debt obligation indentures determine the appropriation level and debt service tax levies
for the Debt Service Funds. Supplementary budgets are adopted for the Proprietary Funds to
determine and calculate user charges. These debt service and budget amounts represent
general obligation bond indenture provisions and net income for operation and capital
maintenance and are not reflected in the financial statements.
7. A capital improvement program is reviewed periodically by the City Council for the Capital
Project Funds. However, appropriations for major projects are not adopted until the actual bid
award of the improvement. The appropriations are not reflected in the financial statements.
8. Expenditures may not legally exceed budgeted appropriations at the total fund level.
Monitoring of budgets is maintained at the expenditure category level (i.e., personal services,
supplies; other services and charges; capital outlay) within each activity.
9. The City Council may authorize transfer of budgeted amounts between City funds.
F. CASH AND INVESTMENTS
Cash and investment balances from all funds are pooled and invested to the extent available in
investments authorized by Minnesota Statutes. Earnings from investments are allocated to individual
funds on the basis of the fund's equity in the cash and investment pool.
The City provides temporary advances to funds that have insufficient cash balances by means of an
advance from another fund shown as interfund receivables in the advancing fund, and an interfund
payable in the fund with the deficit, until adequate resources are received.
Investments are stated at fair value as of the balance sheet date. Interest earnings are accrued at the
balance sheet date.
For purposes of the statement of cash flows the Proprietary Fund considers all highly liquid investments
with a maturity of three months or less when purchased to be cash equivalents. All of the cash and
investments allocated to the proprietary fund types have original maturities of 90 days or less.
Therefore, the entire balance in such fund types is considered cash equivalents.
G. HOMESTEAD CREDIT AND AGRICULTURAL CREDIT AID (HACA)
Property taxes on homestead property (as defined by State Statutes) are partially reduced by HACA.
This credit is paid to the City by the State m lieu of taxes levied against homestead property. The State
remits this credit through installments each year. The credit is recognized as revenue by the City at the
time of collection.
CITY OF LINO LAKES, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2000
Note 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
H. PROPERTY TAX REVENUE RECOGNITION
The City Council annually adopts a tax levy and certifies it to the County in December
(levy /assessment date) of each year for collection in the following year. The County is responsible for
billing and collecting all property taxes for itself, the City, the local School District and other taxing
authorities. Such taxes become a lien on January 1 and are recorded as receivables by the City at that
date. Real property taxes are payable (by property owners) on May 15 and October 15 of each
calendar year. Personal property taxes are payable by taxpayers on February 28 and June 30 of each
year. These taxes are collected by the County and remitted to the City on or before July 15 and
December 15 of the same year. Delinquent collections for November and December are received the
following January. The City has no ability to enforce payment of property taxes by property owners.
The County possesses this authority.
The City recognizes property tax revenue when it becomes both measurable and available to fmance
expenditures of the current period. In practice, current and delinquent taxes and State credits received
by the City in July, December and the following January are recognized as revenue for the current year.
Taxes and credits not received at the year end are classified as delinquent and due from County taxes
receivable. The portion of delinquent taxes not collected by the City in January is fully offset by
deferred revenue because it is not available to finance current expenditures.
The City's property tax revenue includes payments from the Metropolitan Revenue Distribution (Fiscal
Disparities Formula) per State Statute 473F. This statute provides a means of spreading a portion of
the taxable valuation of commercial/industrial real property to various taxing authorities within the
defined metropolitan area. The valuation "shared" is a portion of commercial/industrial property
valuation growth since 1971. Property taxes paid to the City through this formula for 2000 and 1999
totaled $572,406 and $478,347, respectively. Receipt of property taxes from this "fiscal disparities
pool" does not increase or decrease total tax revenue.
I. SPECIAL ASSESSMENT REVENUE RECOGNITION
Special assessments are levied against benefited properties for the cost or a portion of the cost of
special assessment improvement projects in accordance with State Statutes. These assessments are
collectible by the City over a term of years usually consistent with the term of the related bond issue.
Collection of annual installments (including interest) is handled by the County Auditor in the same
manner as property taxes. Property owners are allowed to (and often do) prepay future installments
without interest or prepayment penalties.
Revenue from special assessments is recognized by the City when it becomes measurable and available
to finance expenditures of the current fiscal period. In practice, current and delinquent special
assessments received by the City are recognized as revenue for the current year. Special assessments
are collected by the County and remitted by December 31 (remitted to the City the following January)
and are also recognized as revenue for the current year. All remaining delinquent, deferred and special
deferred assessments receivable in governmental funding are completely offset by deferred revenues.
Once a special assessment roll is adopted, the amount attributed to each parcel is a lien upon that
property until full payment is made or the amount is determined to be excessive by the City Council or
court action. If special assessments are allowed to go delinquent, the property is subject to tax forfeit
sale and the first proceeds of that sale (after costs, penalties and expenses of sale) are remitted to the
City in payment of delinquent special assessments. Generally, the City will collect the full amount of
its special assessments not adjusted by City Council or court action. Pursuant to State Statutes, a
property shall be subject to a tax forfeit sale after three years unless it is homesteaded, agricultural or
seasonal recreational land in which event the property is subject to such sale after five years.
24
lam
MEM
INNEN
WENN
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CITY OF LINO LAKES, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2000
Note 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
J. INVENTORIES
The original cost of materials and supplies has been recorded as expenditures /expenses at the time of
purchase of both the Governmental and Proprietary Funds. These funds do not maintain material
amounts of materials and supplies.
K. INTERFUND RECEIVABLES/PAYABLES
During the course of operations, numerous transactions occur between individual funds for goods
provided or services rendered. These receivables are classified as interfund receivables and payables
on the balance sheet. The non - current portion of interfund loans are reported as "advances to /from
other funds." Advances between funds are offset by a fund balance reserve account in applicable
governmental funds to indicate they are not available for appropriation and are not expendable
available financial resources.
L. LAND HELD FOR RESALE
These assets are recorded in the governmental fund, which purchased them at the lower of cost or
market.
M. FIXED ASSETS
GENERAL FIXED ASSETS
General fixed assets are recorded as expenditures of the Governmental Funds at the time of purchase.
Such assets are capitalized at historical cost or estimated historical cost in the General Fixed Asset
Account Group. Public Domain ( "infrastructure ") general fixed assets consisting of roads, bridges,
curbs, gutters, streets, sidewalks, drainage systems and lighting systems are excluded from general
fixed assets as these assets are immovable and of value only to the City. Gifts or contributions are
recorded in general fixed assets at fair market value at the time received. No depreciation has been
provided on general fixed assets.
PROPRIETARY FUNDS
Fixed assets of the Proprietary Funds are stated at historical cost, estimated historical cost, or in the
case of contributions, at fair market value at the time received. Depreciation has been provided using
the straight -line method over the estimated useful lives of assets, as follows:
Purchased Assets:
Water 5 -50 years
Sewer 5 -50 years
Contributed Assets:
Water 20 -50 years
Sewer 20 -50 years
Fixed assets of the water and sewer utility operations include the water distribution system and sewage
collection system. These systems have been wholly (or substantially) financed by non - operating funds
(special assessments, general taxes, federal and state grants, and other sources) and contributed to the
sewer and water operating funds. City policy is to finance these assets by the sources indicated rather
than by user charges. Accordingly, the water and sewer user rates are not established at levels
sufficient to cover depreciation on these assets.
25
CITY OF LINO LAKES, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2000
Note 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
Depreciation on these assets is shown in the operating statements; however, the depreciation is
eventually transferred against the contribution account rather than retained earnings in accordance with
generally accepted accounting principles. Consequently, the contribution account reflects the net book
value of contributed assets rather than the original cost of such assets.
N. COMPENSATED ABSENCES
It is the City's policy to permit employees to accumulate earned but unused vacation and sick pay
benefits. Amounts that are expected to be liquidated with expendable available financial resources are
reported as an expenditure and a fund liability of the governmental fund that will pay it. Amounts that
are not expected to be liquidated with expendable available financial resources are reported in the
General Long -Term Debt Account Group. No expenditure is reported for these amounts. An unpaid
vacation and severance pay is payable when used or upon termination of employment. In addition, an
amount is recorded for those individuals not eligible for retirement at December 31, 2000, but for
whom a payout of the amount earned to that date is expected. In accordance with the provisions of
Statement of Government Accounting Standards No. 16, Accounting for Compensated Absences, a
liability is recorded for nonvesting accumulating rights to receive sick pay benefits. Sick leave is
payable when used and in some cases upon termination of employment. For several employees, sick
leave is payable upon retirement or termination in accordance with the terms of their employment
contracts. The remaining sick leave amounts are not recorded as liabilities because payment is not
probable.
O. LONG -TERM OBLIGATIONS
Long -term debt is recognized as a liability of a governmental fund when due, or when resources have
been accumulated in the Debt Service Fund for payment early in the following year. For other long-
term obligations, only that portion expected to be financed from expendable available financial
resources is reported as a fund liability of a governmental fund. The remaining portion of such
obligations is reported in the General Long -Term Debt Account Group. Long -term liabilities expected
to be financed from proprietary fund operations are accounted for in those funds.
P. FUND EQUITY
Contributed capital is recorded in Proprietary Funds that have received capital grants or contributions
from developers, customers or other funds. Reserves represent those portions of fund equity not
appropriable for expenditure or legally segregated for a specific future use. Designated fund balances
represent tentative plans for future use of financial resources.
Q. INTERFUND TRANSACTIONS
Quasi - external transactions are accounted for as revenues, expenditures or expenses. Transactions that
constitute reimbursements to a fund for expenditures /expenses initially made from it that are properly
applicable to another fund, are recorded as expenditures /expenses in the reimbursing fund and as
reductions of expenditures /expenses in the fund that is reimbursed.
All other interfund transactions, except quasi - external transactions and reimbursements, are reported as
transfers. Nonrecurring or nonroutine permanent transfers of equity are reported as residual equity
transfers. During 2000, the City made residual equity transfers to close two debt service funds. All
other interfund transfers are reported as operating transfers.
26
MINIM
VINO
AMEN
IMINM
CITY OF LINO LAKES, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2000
Note 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
R. PRIOR PERIOD ADJUSTMENT
The beginning fund balance in the Town Center Project Fund was restated in the amount of $120,000
due to a correction of an accrued payable in the previous year.
S. MEMORANDUM ONLY - TOTAL COLUMNS
Total columns on the General Purpose Financial Statements are captioned "Memorandum Only" to
indicate that they are presented only to facilitate financial analysis. Data in these columns do not
present financial position, results of operations or changes in cash flows in conformity with generally
accepted accounting principles. Neither are such data comparable to a consolidation. Interfund
eliminations have not been made in the aggregation of this data.
Note 2 DEPOSITS AND INVESTMENTS
DEPOSITS
In accordance with Minnesota Statutes, the City maintains deposits at those depository banks
authorized by the City Council, all of which are members of the Federal Reserve System.
Minnesota Statutes require that all City deposits be protected by insurance, surety bond, or collateral.
The market value of collateral pledged must equal 110% of the deposits not covered by insurance or
bonds.
Authorized collateral includes the legal investments described below and certain other state or local
government obligations. Minnesota Statutes require that securities pledged as collateral be held in
safekeeping by the City Treasurer or in a financial institution other than that furnishing the collateral.
At year -end, the carrying amount of the City's deposits was $519,081 and the bank balance was
$468,907. The entire bank balance was covered by Federal depository insurance or by collateral held
by the City's agent in the City's name.
CITY OF LINO LAKES, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2000
Note 2 DEPOSITS AND INVESTMENTS (CONTINUED)
INVESTMENTS
Minnesota Statutes authorize the City to invest in the following:
a) Direct obligations or obligations guaranteed by the United Stages or its agencies, its instrumentalities,
or organizations created by an act of congress, excluding mortgage- backed securities defined as high
risk.
b) Shares of investment companies registered under the Federal Investment Company Act of 1940 and
whose only investments are in securities described in (a) above, general obligation tax - exempt
securities, or repurchase or reverse repurchase agreements.
c) General obligations of the State of Minnesota or any of its municipalities.
d) Bankers acceptance of United States banks eligible for purchase by the Federal Reserve System.
e) Commercial paper issued by United States corporations or their Canadian subsidiaries, of the
highest quality, and maturing in 270 days or less.
f) Repurchase or reverse repurchase agreements with banks that are members of the Federal Reserve
System with capitalization exceeding $10,000,000; a primary reporting dealer in U.S. government
securities to the Federal Reserve Bank of New York; certain Minnesota securities broker - dealers;
or, a bank qualified as a depositor.
Cash and Investment balances as of December 31, 2000 are as follows:
Custodial Credit Risk Category
Security Type 1 2 3 Fair Value
U.S. Government & Agency Securities $ 8,622,000 $ $ $ 8,622,000
Commercial Paper 2,581,261 2,581,261
Municipal Bonds 626,450 626,450
Negotiable Certificates of Deposit 1,221,247 1,221,247
Totals $ 13,050,958 $ $ 13,050,958
Investment not subject to categorization:
Mutual Funds 1,1 10,980
U.S. Government Securities Pooled Investment 729,331
(pool value is Fair Value)
Money Market Funds 196,454
Total Investments 15,087,723
Deposits 519,081
Cash on Hand 820
Total Deposits, Investments and cash on hand $ 15,607,624
A reconciliation of cash and investment as shown on the combined balance sheet is as follows:
Cash and investments
Cash and investments with escrow agent
28
12,773,242
2,834,382
15,607,624
CITY OF LINO LAKES, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2000
Note 2 DEPOSITS AND INVESTMENTS (CONTINUED)
• The City's investments are categorized above to give an indication of the level of custodial credit risk
assumed at year -end. Category 1 includes investments that are insured or registered or for which the
_ securities are held by the City or its agent in the City's name. Category 2 includes uninsured or
unregistered investments for which the securities are held by the counterparty's trust department or
agent in the City's name. Category 3 includes uninsured and unregistered investments for which the
securities are held by the counterparty or by its trust department or agent but not in the City's name.
Cash and investments with escrow agent consist of undisbursed proceeds of the Public Project Bonds
of 1999C, the G.O. Improvement Refunding Bonds of 1999A, the G.O. Water Revenue Refunding
bonds of 1999B and the Lease Revenue Bonds of 1998 which are restricted for the payment of debt
associated with the City's fire station and the payment for construction and capitalized interest costs of
the Civic Complex, respectively.
Note 3 FIXED ASSETS
A summary of changes in general fixed assets is as follows:
Balance
Balance
1 /1 /00 Additions Deletions 12/31/00
Land and Improvements $ 2,208,755 $ 832,082 $ $ 3,040,837
Buildings 6,418,767 5,133 6,423,900
Equipment and Furniture 789,751 159,534 8,047 941,238
Other 704,037 14,333 - 718,370
Vehicles 1,019,332 113,420 52,307 1,080,445
Machinery/Shop Equipment 549,976 138,320 112,456 575,840
11,690,618 $ 1,262,822 $ 172,810 $ 12,780,630
A summary of Proprietary Fund fixed assets at December 31, 2000 is as follows:
Water
Sewer
Total
Building and Structures $ 48,690 $ $ 48,690
Machinery and Equipment 119,946 163,456 283,402
Water and Sewer Lines 14,137,319 15,938,234 30,075,553
Total 14,305,955 16,101,690 30,407,645
Less: Accumulated Depreciation (1,659,250) (2,017,890) (3,677,140)
Net Fixed Assets $ 12,646,705 $ 14,083,800 $ 26,730,505
CITY OF LINO LAKES, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2000
Note 4 CITY INDEBTEDNESS
The following is a schedule of changes in City indebtedness for the year ended December 31, 2000:
Balance Balance
1 /1 /00 Additions Deletions 12/31/00
General Long Term Debt Account Group:
Bonded debt:
General obligation $ 6,904,570
Special assessment 14,045,000
Contracts for deed payable 1,459,352
Compensated absences payable — net 262,182
Total general long term debt 22,671,104
Proprietary Fund:
Revenue bond 4,550,000
Compensated absences -net 12,217
Total $ 27,233,321
$ 325,450 $ 318,570 $ 6,911,450
880,000 13,165,000
250,000 1,209,352
62,854 325,036
388,304 1,448,570 21,610,838
210,000 4,340,000
17,621 - 29,838
$ 405,925 $ 1,658,570 $ 25,980,676
All long -term bonded indebtedness outstanding at December 31, 2000 is backed by the full faith and credit of
the City, including special assessment bond issues. Delinquent special assessments receivable at December 31,
2000 totaled $7,777.
The annual requirement to amortize all debt outstanding at December 31, 2000 including interest payments of
$7,837,922 is as follows:
2001 2002 2003 2004
2005
and on
General Obligation Bonds $ 919,337 $ 785,692 $ 673,646 $ 561,009 $ 7,374,334 $
Special Assessment Bonds 3,533,814 1,756,950 1,531,236 1,493,400 7,959,014
Revenue Bonds 1,081,551 418,564 412,189 415,091 3,338,545
Total $ 5,534,702 $ 2,961,206 $ 2,617,071 $ 2,469,500 $
18,671,893 $
Total
10,314,018
16,274,414
5,665,940
32,254,372
It is not practicable to determine the specific year for payment of compensated absences payable. The contracts
for deed obligations do not include regular and scheduled payments (payments occur as land is sold) and have
been excluded from the above schedule of annual requirements to amortize debt.
30
CITY OF LINO LAKES, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2000
Note 4 CITY INDEBTEDNESS (CONTINUED)
City indebtedness at December 31, 2000 is composed of the following:
Final
Issue Maturity Interest Original
Date Date Rate Issue
Payable
12/31/00
General Obligation Bonds:
1998 Equipment Certificates 2/1/98 12/31/01 6.00% 287,734 96,000
1999 Equipment Certificates 2/1/99 12/31/02 6.00% 307,570 205,000
2000 Equipment Certificates 2/1/00 12/31/03 6.00% 325,450 325,450
Civic Complex Lease Rev. Bonds - 98A 8/1/98 2/1/19 4.20 % -5.35% 5,350,000 5,350,000
Public Project Revenue Ref. Bonds - 99C 9/1/99 2/1/10 4.75 % -5.10% 980,000 935,000
Total General Obligation Bonds
7,250,754 6,911,450
Special Assessment Bonds:
G.O. Improvement Refunding Bonds, 4/1/92 2/1/06 4.00 % -6.70% 3,640,000 1,970,000
'... Series 1992A
G.O. Improvement Refunding Bonds, 10/1/96 2/1/07 4.20 % -5.20% 4,685,000 3,160,000
Series 1996A
G.O. Improvement Refunding Bonds, 8/1/98 2/1/15 4.50 % -4.90% 4,310,000 4,310,000
Serie I998A
G.O. Improvement Refunding Bonds, 8/1/98 2/1/15 4.50 % -4.90% 2,000,000 2,000,000
Series 1998B
-- G.O. Improvement Refunding Bonds, 9/1/99 2/1/06 4.25 % -4.70% 1,725,000 1,725,000
Series 1999A
Total Special Assessment Bonds 16,360,000 13,165,000
Revenue Bonds:
G.O. Water Revenue Bonds, 4/1/92 2/1/08 4.50 % -6.80% 1,060,000 720,000
Series 1992B
G.O. Water Revenue Bonds, 10/1/96 2/1/12 4.10 % -5.70% 3,320,000 2,940,000
Series 1996B
G.O. Water Revenue Bonds, 9/1/99 2/1/08 4.25 % -4.90% 680,000 680,000
Series 1999B
Total Revenue Bonds
Total - All Bonds
5,060,000 4,340,000
28,670,754 24,416,450
Contract for Deed Payable 4/30/97 2/1/02 8.00% 511,714 511,714
Contract for Deed Payable 12/1/97 12/1/02 8.00% 347,638 347,638
Contract for Deed Payable 12/21/99 12/1/02 6.00% 600,000 350,000
Total Contracts for Deed 1,459,352 1,209,352
Compensated Absences Payable N/A 354,874
Total Indebtedness $ 30,130,106 $ 25,980,676
Description and Restrictions of Long -Term Debt
General Obligation Bonds — The bonds were issued for improvements or projects which benefited the City as a
whole and are, therefore, repaid from ad valorem levies.
Special Assessment Bonds — These bonds were issued to finance various improvements and will be repaid
primarily from special assessments levied on the properties benefiting from the improvements. However, some
issues are partly financed by ad valorem levies.
31
CITY OF LINO LAKES, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2000
Note 4 CITY INDEBTEDNESS (CONTINUED)
Public Project Revenue Bonds and Civic Complex Lease Revenue Bonds — These bonds were issued by the
Economic Development Authority (EDA) of Lino Lakes for the purpose of financing the construction of public
facilities. Pursuant to Minnesota Statutes and a lease purchase contract between the EDA and the City of Lino
Lakes, a Trust Indenture between the EDA and a regional bank has been established for the purpose of financing
payment of these bonds. The City has pledged rental payments in amounts equal to the debt service
requirements and plans to annually appropriate City funds available for this purpose. As required by bond
covenant, a reserve account has been established with a trustee, which is to be used to pay principal and interest
on the bonds in the event that other available resources are inadequate to do so.
Through the transactions described above, the City (Primary Government) has, in substance, assumed the debt
service on the revenue bonds issued by the EDA. Therefore, the bonds have been included in the Primary
Government's General Long -Term Debt Account Group. Further, the lease payment made by the City will be
reflected as debt service principal and interest payments on the City's operating statements.
Contract for Deeds — The City has entered into two contracts for deed bearing interest at 8 %, these contracts
were issued for the purchase of land for the express purpose of resale. The contracts for deed will be repaid from
the proceeds of land sales. One of the contracts calls for monthly interest only payments with a balloon payment
due in December of 2002. The second contract calls for payments equal. to $2.50 per square foot to be made as
land is sold, with the final unpaid balance due on December 1, 2002. Such payments are then applied first to
interest accrued since the last payment date and then to the principal balance. The third contract for deed bears
interest at 6 %, this contract calls for payments over the next three years.
Liability for Compensated Absences — This liability represents vested benefits earned by governmental fund
employees through the end of the year which will be paid or used in future periods. The liability for Proprietary
Fund employees is included in the accrued liabilities of those funds.
Refunded Bonds
General Obligation Improvement Refunding Bonds, Series 1992A — The City issued General Obligation
Improvement Refunding Bonds, Series 1999A to advance refund the G.O. Improvement Refunding Bonds,
Series 1992A in a crossover refunding pursuant to Minnesota Statutes § 475.67, Subd.13. The proceeds of the
1999A issue were placed into an irrevocable trust fund to provide or the future debt service of the 1992A bonds.
Debt service on the series 1999A bonds will be paid from the trust fund through February 1, 2001 and the City
will pay debt service thereafter. The City will continue to pay debt service on the 1992A bonds through
February 1, 2001. The call date is February 1, 2001, at which time the trust fund will pay the 1992A bonds with
maturity dates after February 1, 2002
General Obligation Water Revenue Refunding Bonds, Series 1992B — The City issued General Obligation
Improvement Refunding Bonds, Series 1999B to advance refund the G.O. Improvement Refunding Bonds,
Series 1992B in a crossover refunding pursuant to Minnesota Statutes § 475.67, Subd.13. The proceeds of the
1999B issue were placed into an irrevocable trust fund to provide or the future debt service of the 1992B bonds.
Debt service on the series 1999B bonds will be paid from the trust fund through February 1, 2001 and the City
will pay debt service thereafter. The City will continue to pay debt: service on the 1992B bonds through
February 1, 2001. The call date is February 1, 2001, at which time the trust fund will pay the 1992B bonds with
maturity dates after February 1, 2002.
32
CITY OF LINO LAKES, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2000
Note 5 LEGAL DEBT MARGIN
The City is subject to a statutory limitation by the State of Minnesota for bonded indebtedness payable
principally from property taxes. The City of Lino Lake's legal debt margin for 2000 and 1999 is computed as
follows:
Market value
Applicable percentage
Debt Limit
December 31,
2000
775,398,200
2 %
15,507,964
1999
687,737,400
2 %
13,754,748
Amount of debt applicable to debt limit:
Total bonded debt 24,416,450 25,499,570
Less: Special assessment bonds (13,165,000) (14,045,000)
Public project revenue bonds (6,285,000) (6,330,000)
Cash and investment in Debt Service Funds (29,726)
Revenue bonds (4,340,000) (4,550,000)
Total debt applicable to debt limit 626,450 544,844
Legal debt margin 14,881,514 13,209,904
Note 6 DEFINED BENEFIT PENSION PLANS - STATEWIDE
A. PLAN DESCRIPTION
All full -time and certain part-time employees of the City of Lino Lakes are covered by defined benefit
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. These plans are established
and administered in accordance with Minnesota Statute, Chapters 353 and 356.
PERF members belong to either the Coordinated Plan or the Basic Plan. Coordinated Plan members
are covered by Social Security and Basic Plan members are not. All new members must participate in
the Coordinated Plan. All police officers, firefighters and peace officers who qualify for membership
by statute are covered by the PEPFF.
PERA provides retirement benefits as well as disability benefits to members, and benefits to survivors
upon death of eligible members. Benefits are established by State Statute, and vest after three years of
credited service. The defined retirement benefits are based on a member's highest average salary for
any five successive years of allowable service, age, and years of credit at termination of service.
Two methods are used to compute benefits for PERF's Coordinated and Basic Plan members. The
retiring member receives the higher of a step -rate benefit accrual formula (Method 1) or a level accrual
formula (Method 2). Under Method 1, the annuity accrual rate for a Basic Plan member is 2.2 percent
of average salary for each of the first 10 years and 2.7 percent for each remaining year. For a
Coordinated Plan member is 1.2 percent of average salary for each of the first 10 years and 1.7 percent
for each remaining year.
CITY OF LINO LAKES, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2000
Note 6
DEFINED BENEFIT PENSION PLANS — STATEWIDE (CONTINUEDZ
Under Method 2, the annuity accrual rate is 2.7 percent of average salary for Basic Plan members and
1.7 percent for Coordinated Plan members for each year of service. For PEPFF members, the annuity
accrual rate is 3.0 percent for each year of service. For all PEPFF members and for PERF members
whose annuity is calculated using Method 1, a full annuity is available when age plus years of service
equal 90. A reduced retirement annuity is also available to eligible members seeking early retirement.
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.
The benefit provisions stated in the previous paragraphs of this section are current provisions and apply
to active plan participants. Vested, terminated employees who are entitled to benefits but are not
receiving them yet, are bound by the provisions in effect at the time they last terminated their public
service.
PERA issues a publicly available financial report that includes financial statements and required
supplementary information for PERF and PEPFF. That report may be obtained by writing to PERA,
514 St. Peter Street #200, St. Paul, Minnesota, 55102 or by calling (651) 296 -7460 or 1- 800 - 652 -9026.
B. FUNDING POLICY
Minnesota Statutes Chapter 353 sets the rates for employer and employee contributions. These statutes
are established and amended by the state legislature. The City makes annual contributions to the
pension plans equal to the amount required by state statutes. PERF Basic Plan members and
Coordinated Plan members are required to contribute 8.75% and 4.75 %, respectively, of their annual
covered salary. PEPFF members are required to contribute 6.20% of their annual covered salary.
The City of Lino Lakes is required to contribute the following percentages of annual covered payroll:
11.43% for Basic Plan PERF members, 5.18% for Coordinated Plan PERF members, and 9.30% for
PEPFF members. The City's contributions for the years ending June 30, 2000, 1999, and 1998 were
$207,255, $175,126, and $183,662, respectively, equal to the contractually required contributions for
each year as set by state statute.
34
IMMO
Imam
IMmo
Imm
Imo
CITY OF LINO LAKES, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2000
Note 7 METROPOLITAN COUNCIL ENVIRONMENTAL SERVICES
During 1971, the Metropolitan Waste Control Commission (MWCC) was organized to provide for consolidation
of the sanitary sewer collection, treatment and disposal in the seven county metropolitan area surrounding
Minneapolis and St. Paul. Previously, these operations were maintained by the city governments on an
individual or collective basis. The MWCC merged with the Metropolitan Council during 1994 to form
Metropolitan Council Wastewater Services (MCWS) and is now called the Metropolitan Council Environmental
Services (MCES). The MCES bills the City annually based upon estimated volume and budgeted costs. The
City follows the accounting policy of recognizing these charges as an expense of the sewer utility operation in
the year for which they are billed.
Note 8 RECONCILIATION OF CONTRIBUTED CAPITAL
Changes to contributed capital during the year are as follows:
Water
Sewer
Total
Beginning
Balance
$ 8,760,643
13,628,456
$ 22,389,099
Note 9 SEGMENT INFORMATION
Capital
Contributions
$ 574,762
658,505
$ 1,233,267
The City actively maintains two Enterprise Funds which provide
information for the year ended December 31, 2000 is as follows:
Operating revenue
Depreciation expense
Operating income (loss)
Property, plant and
equipment additions
Capital Contributions
Net income (loss)
Operating transfers in (out)
Net property, plant
and equipment
Net working capital
Total assets
Bonds payable
Total equity
Water
Utility
$ 718,822
287,967
(64,328)
574,762
75,385
320,509
12,646,705
77,613
14,076,205
4,340,000
9,543,389
Depreciation
on Contributed
Assets
$ (198,004)
(306,801)
$ (504,805)
Ending
Balance
$ 9,137,401
13,980,160
$ 23,117,561
water and sanitary sewer services. Segment
Sewer
Utility
$ 875,850
321,416
(87,295)
658,505
(37,863)
14,083,800
1,000,631
15,108,930
15,069,512
Totals
2000
$ 1,594,672
609,383
(151,623)
1,233,267
37,522
320,509
26,730,505
1,078,244
29,185,135
4,340,000
24,612,901
1999
$ 1,268,891
515,350
(176,549)
4,655,031
4,611,608
(301,305)
49,366
26,075,620
1,308,844
28,062,654
4,550,000
23,342,112
CITY OF LINO LAKES, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2000
Note 10 DEFICIT FUND BALANCES
The City has deficit fund balances at December 31, 2000 as follows:
Fund Balance
Deficit
Special Revenue Funds:
Economic Development Fund $ 1,143
Community Development Block Grant 944
Debt Service Funds:
Public Project Refunding Bonds of 1999C 94,789
Capital Project Funds:
Dedicated Parks 155,052
MSA Construction 425,143
1997 Construction 1,374,287
1998 Construction 2,839,838
Town Center Project 1,690
General Tax Increment Administrative 12,974
Tax Increment Financing 1 -6 40,950
Tax Increment Financing 1 -7 421,838
Tax Increment Financing 1 -9 8,238
Tax Increment Financing 3 -1 145,954
The City intends to fund these deficits through future tax levies, special assessment levies, tax increments,
transfers from other funds, and various other sources.
Note 11 CONTINGENCIES
Litigation - The City attorney has indicated that existing and pending lawsuits, claims and other actions in which
the City is a defendant are either covered by insurance; of an immaterial amount; or, in the judgment of the City
attorney, remotely recoverable by plaintiffs.
Federal and State Funds - The City receives financial assistance from federal and state governmental agencies in
the form of grants. The disbursement of funds received under these programs generally requires compliance
with the terms and conditions specified in the grant agreements and is subject to audit by the grantor agencies.
Any disallowed claims resulting from such audits could become a liability of the applicable fund. However, in
the opinion of management, any such disallowed claims will not have a material effect on any of the financial
statements of the individual fund types included herein or on the overall financial position of the City at
December 31, 2000.
Note 12 DEFERRED AD VALOREM TAX LEVIES - BONDED DEBT
General Obligation bond issues sold by the City are financed by ad valorem tax levies and special assessment
bond issues sold by the City are partially financed by ad valorem tax levies m addition to special assessments
levied against the benefiting properties. When a bond issue to be financed partially or completely by ad valorem
tax levies is sold, specific annual amounts of such tax levies are stated in the bond resolution and the County
Auditor is notified and instructed to levy these taxes over the appropriate years. The future tax levies are subject
to cancellation when and if the City has provided alternative sources of financing. The City Council is required
to levy any additional taxes found necessary for full payment of principal and interest.
36
N.=
Wow
CITY OF LINO LAKES, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2000
Note 12 DEFERRED AD VALOREM TAX LEVIES - BONDED DEBT (CONTINUED)
These future scheduled tax levies are not shown as assets in the accompanying financial statements at
December 31, 2000 and 1999.
Future scheduled tax levies for all bonds outstanding at December 31, 2000 totaled $15,155,505.
Note 13 DESIGNATIONS AND RESERVATIONS OF FUND EQUITY
At December 31, 2000 and 1999, the City had designated and reserved portions of its various fund equities
through legal restriction and City Council authorization. Major fund equity appropriations at December 31,
2000 and 1999 are shown on the various balance sheets as segregations of the fund equity. A summary of such
designations is as follows:
December 31,
2000 1999
General Fund:
Reserve for prepaid items $ 105,052 $ 115,359
Designated for cash flow reserve 3,436,544 3,319,115
Special Revenue Fund:
Reserve for prepaid items
Designated for recreation programs
Debt Service Funds:
Reserved for debt retirement
Capital Project Funds:
Reserved for Advance to Other Funds
Reserved for land held for resale
Designated for capital improvements
Totals
Note 14 SHARE IN GAS FRANCHISE PROFITS
1,017
51,319
4,101,453
582,916
989,506
10,061,453
$ 19,329,260
35,485
3,824,337
989,506
9,849,952
$ 18,133,754
The City receives a share of the gross billing for natural gas sales by a neighboring City, which provides service
within the City of Lino Lakes. The amount reported as revenue in the General Fund for 2000 and 1999 totaled
$56,600 and $43,852 , respectively.
CITY OF LINO LAKES, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2000
Note 15 INTERFUND RECEIVABLE AND PAYABLES
Individual fund receivable and payable balances at December 31, 2000 are as follows:
Fund
Receivable Payable
Special Revenue Funds:
Economic Development Authority $ - $ 1,143
Community Development Block Grant - 3,617
Debt Service Fund:
Public Project Refunding Bonds of 1999C 104,533
Capital Project Funds:
Area and Unit Charge 6,263,850
MSA Construction 425,143
1997 Construction 1,333,772
1998 Construction 2,672,946
Town Center Project 991,196
General Tax Increment Administrative 11,599
Tax Increment Financing District 1 -6 - 40,594
Tax Increment Financing District 1 -7 381,744
Tax Increment Financing District 1 -9 6,441
Tax Increment Financing District 3 -1 166,555
Agency Fund:
Investment Fund - 124,567
$ 6,263,850 $ 6,263,850
Advances to /from Other Funds
Dedicated Parks $ $ 582,916
Areas and Unit Charges 582,916
$ 582,916 $ 582,916
Note 16 RISK MANAGEMENT
The City is exposed to various risks of loss related to torts; theft of, damage to and destruction of assets; errors
and omissions; injuries to employees; and natural disasters.
Workers compensation coverage is provided through a pooled self - insurance program through the League of
Minnesota Cities Insurance Trust (LMCIT). The City pays an annual premium to LMCIT. The City is subject
to supplemental assessments if deemed necessary by the LMCIT. The LMCIT reinsures through Workers
Compensation Reinsurance Association (WCRA) as required by law. For workers compensation, the City is not
subject to a deductible. The City's workers compensation coverage is retrospectively rated. With this type of
coverage, final premiums are determined after loss experience is known. The amount of premium adjustment, if
any, is considered immaterial and not recorded until received or paid.
Property and casualty insurance is provided through a pooled self - insurance program through the LMCIT. The
City pays an annual premium to the LMCIT. The City is subject to supplemental assessments if deemed
necessary by the LMCIT. The LMCIT reinsures through commercial companies for claims in excess of various
amounts. The City retains risk for the deductible portion of the insurance policies and for any exclusions from
the insurance policies. These amounts are considered immaterial to the financial statements.
38
CITY OF LINO LAKES, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2000
Note 16 RISK MANAGEMENT (CONTINUED)
The City continues to carry commercial insurance for all other risks
health insurance.
There were no significant reductions in insurance from the previous
coverage for any of the past three fiscal years.
of loss, including disability and employee
year or settlements in excess of insurance
Note 17 CONDUIT DEBT OBLIGATIONS
The City has issued Industrial Development Revenue Bonds to provide financial assistance to private- sector
entities for the acquisition and construction of industrial and commercial facilities which are deemed to be in the
public interest. The bonds are secured by the property financed and are payable solely from payments on the
underlying mortgage loans. Upon repayment of the bonds, ownership of the acquired facilities transfers to the
private sector entity served by the bond issue. The City is not obligated in any manner for the repayment of the
bonds. Accordingly, the bonds are not reported as liabilities in the accompanying fmancial statements. As of
December 31, 2000, two series of Industrial Revenue Bonds were outstanding with aggregate remaining
principal balances of $2,550,000 and $4,800,000, respectively.
Note 18 LEASE COMMITMENT
The City of Lino Lakes entered into a lease agreement dated December 8, 1997 whereby the City constructed a
facility on property it already owned. Upon completion, this facility was leased to the Independent School
District No. 12 (ISD 12), the tenant, in January 1999 and will continue until June 30, 2009. The tenant's
—
payments are $110 per square foot per year for a total of $1,200,000 over the term of the lease. The schedule of
remaining payments is as follows:
Wwle
2001
2002
2003
2004
2005
Thereafter
$ 112,500
112,500
112,500
112,500
112,500
412.500
$ 975,000
CITY OF LINO LAKES, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2000
Note 19 JOINT FIRE VENTURE
The Centennial Fire District (the District) was established under a joint powers agreement between the City of
Lino Lakes and two other cities. The general purpose of the District is to provide fire protection services
including, but not limited to, fire prevention, firefighting and rescue service. Each member city is entitled to
appoint two commissioners to the District's Board.
Each calendar year participating cities are to pay the District its share of the total operating and capital budget in
accordance with a funding formula contained in Section VII of the joint powers agreement. The funding
formula takes into account each city's average number of calls, population, and total market value.
During 2000, the City of Lino Lakes' contributions to the District were as follows:
Operating $ 294,005
Capital 66,100
$ 360,105
Separate financial statements of the District can be obtained by contacting the Centennial Fire District.
The unaudited condensed financial statements of the District as of December 31, 2000 are as follows:
Total assets $ 1,564,519
Total liabilities 57,747
Total equity 1,506,772
Total operating revenue 515,450
Total operating expenses 469,608
40
COMBINING, INDIVIDUAL FUND AND
ACCOUNT GROUP
FINANCIAL STATEMENTS
GENERAL FUND
_ The General fund accounts for all financial resources except those required to be accounted for in
another fund.
- CITY OF LINO LAKES, MINNESOTA
GENERAL FUND
BALANCE SHEET
- December 31, 2000
With Comparative Amounts At December 31, 1999
NINO
Assets
WINO
Statement 6
2000 1999
Cash and investments $ 3,262,693 $ 3,150,236
Accounts receivable 77,823 167,249
Due from other governmental units 356,154 336,636
Taxes receivable:
Delinquent 31,804 19,206
- Due from County 59,852 50,411
Prepaid items 105,052 115,359
Total assets $ 3,893,378 $ 3,839,097
Liabilities and Fund Balance
Liabilities:
Accounts payable $ 173,408 $ 157,838
- Salaries payable 136,239 211,597
Contracts payable - 1,225
Due to other governmental units 5,003 9,429
— Deferred revenue 37,132 24,534
Total liabilities 351,782 404,623
- Fund balance:
Reserved for prepaid items 105,052 115,359
Unreserved:
Designated for cash flow reserve 3,436,544 3,319,115
Total fund balance 3,541,596 3,434,474
INEW
Total liabilities and fund balance $ 3,893,378 $ 3,839,097
41
CITY OF LINO LAKES, MINNESOTA
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE
For the Year Ended December 31, 2000
(With Comparative Amounts For The Year Ended December 31, 1999)
Statement 7
Page 1 of 6
2000
Over (Under) 1999
Budget Actual Budget Actual
Revenue:
General property taxes:
Current and delinquent $ 3,320,877 $ 2,850,171 $ (470,706) $ 2,564,686
Fiscal disparities 452,164 452,164 378,324
Excess tax increments 13,000 3,722 (9,278) 19,654
Total general property taxes 3,333,877 3,306,057 (27,820) 2,962,664
Licenses and permits:
Non - business 616,193 849,992 233,799 794,945
Business 26,050 34,754 8,704 28,774
Total licenses and permits 642,243 884,746 242,503 823,719
Intergovernmental:
Federal:
Other 84,400 76,562 (7,838) 47,123
State:
Local performance aid - - 17,631
Homestead credit 303,621 303,621 329,326
Mobile home homestead credit - 3,470 3,470 3,461
Police state aid 95,000 110,384 15,384 112,587
MSA maintenance 120,000 147,707 27,707 139,940
Other 30,000 20,622 (9,378) 116,780
County/Regional:
Solid waste 37,000 40,240 3,240 32,397
Other 2,500 (2,500) 140,808
Total intergovernmental 672,521 7D2,606 30,085 940,053
Special Assessments:
Penalties and Interest 5,405 5,405
Charges for services:
General government 34,500 35,493 993 33,281
Planning /engineering 150,000 18,040 (131,960) 12,810
Recreation 7,000 7,000 7,000
Fees retained from collection for
other governments - SAC /surcharge 4,000 4,521 521 6,179
Administrative charge - other funds 133,000 122,892 (10,108) 136,766
Aerial map charge - other funds 12,000 18,810 6,810 17,910
Public safety 26,000 65,389 39,389 64,564
Total charges for services 366,500 272,145 (94,355) 278,510
Fines and forfeits 100,000 124,458 24,458 87,434
Investment earnings 87,531 140,592 53,061 27,655
Refunds and reimbursements 42,000 58,200 16,200 74,095
Miscellaneous:
Gas franchise fees 42,000 56,600 14,600 43,852
Cable TV 17,000 33,427 16,427 26,610
Sale of property 10,000 22,158 12,158 70,916
Donations 3,792 7,001 3,209 5,100
Other - - - 2,845
Total miscellaneous 72,792 119,186 46,394 149,323
Total revenue
5,317,464 5,613,395 295,931 5,343,453
42
CITY OF LINO LAKES, MINNESOTA
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE
For the Year Ended December 31, 2000
(With Comparative Amounts For The Year Ended December 31, 1999)
Statement 7
Page 2of6
2000
Over (Under)
Budget Actual Budget
1999
Actual
Expenditures:
General government:
Mayor and council:
Current
Immt
Personal services $ 36,757 $ 33,802 $ (2,955) $ 31,287
Supplies 500 611 111 819
Other services and charges 32,224 34,744 2,520 28,264
Contractual Services 18,000 19,748 1,748 18,546
Total mayor and council 87,481 88,905 1,424 78,916
Elections:
.... Current
Personal services 16,700 13,787 (2,913) 5,438
Supplies 300 346 46 59
Other services and charges 450 1,607 1,157 5,308
IIMM
Capital outlay 2,500 24,696 22,196 -
Total elections 19,950 40,436 20,486 10,805
Administration:
�-- Current
Personal services 323,307 312,820 (10,487) 354,388
Supplies 4,000 3,256 (744) 10,392
Other services and charges 39,996 27,058 (12,938) 32,397
_
Contractual Services 3,500 6,578 3,078 3,313
Capital outlay 600 1,873 1,273
Total administration 371,403 351,585 (19,818) 400,490
Finance:
Current
Personal services 163,320 162,162 (1,158) 113,483
Supplies 1,600 2,517 917 2,224
Other services and charges 27,953 48,008 20,055 34,338
Contractual Services 56,950 55,956 (994) 60,653
Capital outlay 1,050 1,819 769 23,508
Total finance 250,873 270,462 19,589 234,206
Cable TV:
Current
... Personal services 3,495 1,729 (1,766) 2,193
Supplies 200 90 (110) 7
Capital outlay 201
Total cable TV 3,695 1,819 (1,876) 2,401
Consultants:
Current
Legal 125,000 147,100 22,100 117,706
43
CITY OF LINO LAKES, MINNESOTA
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE
For the Year Ended December 31, 2000
(With Comparative Amounts For The Year Ended December 31, 1999)
General government: (continued)
Economic Development:
Current
Statement 7
Page 3 of 6
2000
Over (Under)
Budget Actual Budget
1999
Actual
Personal services $ 183,289 $ 169,368 $ (13,921) $ 134,480
Supplies 750 1,702 952 897
Other services and charges 27,759 26,612 (1,147) 144,408
Contractual services 16,500 1,066 (15,434) 1,869
Capital outlay 3,800 4,049 249 -
Total economic development 232,098 202,797 (29,301) 281,654
Planning and zoning commission:
Current
Personal services 113,166 119,663 6,497 110,295
Supplies 477 477 537
Other services and charges 41,959 8,526 (33,433) 10,573
Contractual services 19,150 13,625 (5,525) 13,819
Capital outlay 1,000 475 (525)
Total planning and zoning commission 175,275 142,766 (32,509) 135,224
Engineering /planning:
Current
Personal services 18,327
Supplies - 329
Other services and charges - 35 35 1,281
Contractual services 190,000 174,509 (15,491) 136,273
Capital outlay - 1,557 1,557 642
Total engineering /planning 190,000 176,101 (13,899) 156,852
Senior Service
Current
Personal services 12,425 12,450 25 11,754
Supplies 300 - (300) -
Other services and charges 903 897 (6) 284
Capital outlay 500 511 11 179
Total charter commission 14,128 13,858 (270) 12,217
Charter commission:
Current
Supplies 200 - (200)
Other services and charges 4,800 515 (4,285)
Capital outlay 538 538 988
Total charter commission 5,000 1,053 (3,947) 988
General government buildings:
Current
Personal services 49,655 53,966 4,311 23,518
Supplies 35,400 32,637 (2,763) 19,714
Other services and charges 183,206 192,859 9,653 163,784
Contractual services 49,000 27,166 (21,834) 18,404
Capital outlay 17,000 27,018 10,018 114,190
Total general government buildings 334,261 333,646 (615) 339,610
Total general government
1,809,164 1,770,528
44
(38,636) 1,771,069
CITY OF LINO LAKES, MINNESOTA Statement 7
GENERAL FUND Page 4 of 6
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE
For the Year Ended December 31, 2000
(With Comparative Amounts For The Year Ended December 31, 1999)
2000
Over (Under)
Budget Actual Budget
1999
Actual
- Public safety:
Police:
Current
Personal services $ 1,487,034 $ 1,471,071 $ (15,963) $ 1,338,926
. -
Supplies 22,860 29,780 6,920 25,612
Other services and charges 84,453 85,200 747 96,649
Contractual services 35,520 38,922 3,402 24,781
Capital outlay 12,732 31,617 18,885 6,349
Total police 1,642,599 1,656,590 13,991 1,492,317
Fire protection:
Current
Contractual services 294,005 294,005 283,178
Building inspection:
Current
Personal services 172,122 170,278 (1,844) 144,126
Supplies 1,000 1,613 613 2,139
Other services and charges 5,542 2,392 (3,150) 3,200
Contractual services 30,300 33,435 3,135 33,209
Capital outlay 33 33
Total building inspection 208,964 207,751 (1,213) 182,674
Total public safety
2,145,568 2,158,346 12,778 1,958,169
Public works:
Streets:
Current
Personal services 295,126 271,243 (23,883) 232,667
Supplies 96,010 82,369 (13,641) 78,797
Other services and charges 62,667 70,897 8,230 54,685
Contractual services 105,340 102,246 (3,094) 81,722
Capital outlay - 1,537
Total streets 559,143 526,755 (32,388) 449,408
Fleet:
Current
,., Personal services 78,391 71,727 (6,664) 70,703
Supplies 117,030 136,170 19,140 89,886
Other services and charges 17,924 31,553 13,629 18,048
Contractual services 25 25 25
Capital outlay 15,000 20,190 5,190
Total fleet 228,345 259,665 31,320 178,662
Total public works 787,488 786,420 (1,068) 628,070
45
CITY OF LINO LAKES, MINNESOTA
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE
For the Year Ended December 31, 2000
(With Comparative Amounts For The Year Ended December 31, 1999)
Statement 7
Page 5of6
2000
Over (Under)
Budget Actual Budget
1999
Actual
Parks and recreation:
Parks:
Current
Personal services $ 328,083 $ 328,132 $ 49 $ 314,057
Supplies 51,100 51,262 162 43,230
Other services and charges 47,630 40,534 (7,096) 43,453
Contractual services 17,100 13,776 (3,324) 17,009
Capital outlay 55,750 7,695 (48,055) 49,788
Total parks 499,663 441,399 (58,264) 467,537
Recreation:
Current
Personal services 186,624 189,190 2,566 157,396
Supplies 6,000 5,922 (78) 4,048
Other services and charges 19,669 14,738 (4,931) 13,424
Contractual services 4,700 4,328 (372) 4,758
Capital outlay 286 286 -
Total recreation 216,993 214,464 (2,529) 179,626
Total parks and recreation
716,656 655,863 (60,793) 647,163
Conservation of natural resources:
Forestry:
Current
Personal services 30,827 31,619 792 29,535
Supplies 2,510 208 (2,302) 91
Other services and charges 2,592 280 (2,312) 468
Contractual services 5,550 7,009 1,459 18,915
Capital outlay 22,000 31,110 9,110 14,102
Total forestry 63,479 70,226 6,747 63,111
Storm damage cleanup
Current
Other services and charges - 3,581
Contractual services 68,528
Total storm damage cleanup 72,109
Environmental:
Current
Personal services 30,856 31,209 353 28,878
Supplies 2,700 2,494 (206) 691
Other services and charges 9,192 6,876 (2,316) 7,474
Contractual services 5,600 212 (5,388) 38,156
Capital outlay 2,000 (2,000)
Total environmental 50,348 40,791 (9,557) 75,199
46
CITY OF LINO LAKES, MINNESOTA
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE
For the Year Ended December 31, 2000
(With Comparative Amounts For The Year Ended December 31, 1999)
Statement 7
Page 6 of 6
2000
Over (Under)
Budget Actual Budget
1999
Actual
Conservation of natural resources: (continued)
Solid waste abatement:
Current
Personal services $ 6,168 $ 7,909 1,741 $ 7,875
MIMI
Supplies 700 50 (650) 32
Other services and charges 6,900 1,983 (4,917) 2,142
Contractual services 15,200 16,694 1,494 12,615
Capital outlay 4,338 4,338
Total solid waste abatement 28,968 30,974 2,006 22,664
Total conservation of natural resources 142,795 141,991 (804) 233,083
Total expenditures 5,601,671 5,513,148 (88,523) 5,237,554
Revenue over expenditures (284,207) 100,247 384,454 105,899
Other financing sources (uses):
Operating transfer from Capital Projects Funds 56,875 56,875 155,783
Operating transfer to Capital Projects Funds (189,174)
Operating transfer to Special Revenue Fund (50,000) (50,000)
Operating transfer to Enterprise Fund (49,366)
Total other fmancing sources (uses) 6,875 6,875 (82,757)
Net increase (decrease) in fund balance $ (277,332) 107,122 $ 384,454 23,142
Fund Balance - January 1 3,434,474 3,411,332
Fund balance - December 31 $ 3,541,596 $ 3,434,474
47
SPECIAL REVENUE FUNDS
Special Revenue Funds are used to account for the proceeds of specific revenue sources that are
-' legally restricted to expenditures for particular purposes. The City maintained the following
Special Revenue Funds during the year.
MEM
Economic Development Authority - established to account for the receipt and uses of
funds for economic purposes.
Community Development Block Grant - to account for the financial activity related to
projects funded by CDBG programs.
Program Recreation - established to account for various self - supporting recreational
programs.
CITY OF LINO LAKES, MINNESOTA
SPECIAL REVENUE FUNDS
COMBINING BALANCE SHEET
December 31, 2000
(With Comparative Totals For December 31, 1999)
Statement 8
Economic Conununity
Development Development Program Totals
Authority Block Grant Recreation 2000 1999
Assets
Cash and investments $ $ - $ 53,882 $ 53,882 $ 41,031
Due from other govemments 2,673 2,673 1,230
Prepaid items - 1,017 1,017
Total assets $ $ 2,673 $ 54,899 $ 57,572 $ 42,261
Liabilities and Fund Balance
Liabilities:
Interfund payable $ 1,143 $ 3,617 $ $ 4,760 $ 2,754
Accounts payable - 1,374 1,374 3,987
Salaries payable 1,189 1,189 1,559
Total liabilities 1,143 3,617 2,563 7,323 8,300
Fund balance:
Reserved for prepaid items 1,017 1,017
Unreserved:
Designated for recreation programs 51,319 51,319 35,485
Undesignated (1,143) (944) (2,087) (1,524)
Total fund balance (1,143) (944) 52,336 50,249 33,961
Total liabilities and fund balance $ $ 2,673 $ 54,899 $ 57,572 $ 42,261
48
▪ CITY OF LINO LAKES, MINNESOTA
SPECIAL REVENUE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE
- For The Year Ended December 31, 2000
(With Comparative Totals For the Year Ended December 31, 1999)
Statement 9
.�. Revenue:
Intergovernmental:
Federal:
CDBG
• Charges for services:
Recreation fees
Investment earnings
Total revenues
Economic Community
Development Development Program Totals
Authority Block Grant Recreation 2000 1999
$ 19,109 $ $ 19,109 $ 20,604
19,109
194,628 194,628 164,555
3,193 3,193 671
197,821 216,930 185,830
Expenditures:
General government:
_ Current:
Personal services 576 10,300 10,876 r 9,807
Other services and charges 8,796 8,796 285
Contractual services - 12,071
Parks, recreation and forestry:
Current:
Personal services 87,895 87,895 72,787
Supplies 92,617 92,617 82,266
Other services and charges 458 458 2,643
Contractual services 144
Capital outlay 9,086
Total expenditures 576 19,096 180,970 200,642 189,089
■
Revenue (under) expenditures (576) 13 16,851 16,288 (3,259)
Fund balance - January 1 (567) (957) 35,485 33,961 37,220
Fund balance - December 31 $ (1,143) $ (944) $ 52,336 $ 50,249 $ 33,961
49
CITY OF LINO LAKES, MINNESOTA
SPECIAL REVENUE FUND - PROGRAM RECREATION
STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
For The Year Ended December 31, 2000
(With Comparative Totals For the Year Ended December 31, 1999)
Statement 10
2000
Over
(Under)
Budget Actual Budget
1999
Actual
Revenue
Charges for services:
Recreation Fees $ 172,760 $ 194,628 $ 21,868 $ 164,555
Investment earnings 3,193 3,193 661
Total revenue 172,760 197,821 25,061 165,216
Expenditures:
Current:
Personal services 73,547 87,895 14,348 72,787
Supplies 77,018 92,617 15,599 82,266
Other services and charges 450 458 8 2,643
Contractual services - 144
Capital outlay 9,086
Total expenditures 151,015 180,970 29,955 166,926
Net increase (decrease) in fund balance $ 21,745 16,851 $ (4,894) (1,710)
Fund balance - January 1 35,485 37,195
Fund balance - December 31 $ 52,336 $ 35,485
50
NNW
DEBT SERVICE FUNDS
The Debt Service Funds account for the accumulation of resources for, and the payment of,
interest, principal and related costs on general long -term debt.
The City's Debt Service Funds account for three types of bonded indebtedness:
• General Debt Bonds - are repaid primarily from property taxes.
• Improvement Bonds - are repaid primarily from special assessments.
• Public Facility Lease Revenue Bonds - are repaid primarily from lease
revenues received from the EDA leasing the buildings to the City of Lino
Lakes and other tenants.
CITY OF LINO LAKES, MINNESOTA
DEBT SERVICE FUNDS
COMBINING BALANCE SHEET
December 31, 2000
(With Comparative Totals For 1999)
Improvement Improvement Improvement Improvement
Bonds of Bonds of Bonds of Bonds of
1992A 1996A 1998A 1998B
Assets
Cash and investments $ 65,990 $ 829,374 $ 56,816 $ 262,343
Cash and investments
with escrow agent
Accrued Interest Receivable
Accounts Receivable
Taxes receivable:
Delinquent 1,530
Due from County
Special assessments receivable:
Delinquent 1,151 - - -
Deferred 37,607 304,528 199,548 383,886
Due from County 231 - - 3,550
Total assets $ 104,979 $ 1,133,902 $ 256,364 $ 651,309
Liabilities and Fund Balance
Liabilities:
Interfund payable $ $ - $ - $
Accounts payable 43,900 255 255
Deferred revenue 38,758 304,528 199,548 385,416
Total liabilities 38,758 348,428 199,803 385,671
Fund balance
Reserved for debt retirement
Unreserved - undesignated
Total fund balance
Total liabilities and fund balance
785,474 56,561 265,638
66,221 - -
66,221 785,474 56,561 265,638
$ 104,979 $ 1,133,902 $ 256,364 $ 651,309
51
Statement 11
WINN
Public Project Lease Improvement Public Project
Certificates Revenue Revenue Refunding Refunding
of Bonds Bonds Bonds Bonds Totals
Indebtedness of 1990A of 1998A of 1999A of 1999C 2000 1999
$ 44,233 $ 391,847 $ 332,466 $
Ram
3,454
5,399
493,662
2,463
1,503 3,282
2,332 5,277
$ 53,086 $ 395,682
MN
$ 837,150
4,213 $
1,680,657
31,736
$ 1,987,282 $ 1,611,598
9,696 2,184,015 2,188,920
48 34,247 22,727
412
9,769 3,993
13,008 10,413
1,151 2,973
925,569 1,347,884
3,781 2,413
$ 1,716,606 $ 9,744 $ 5,158,822 $ 5,191,333
g. $ $ $ $ - $ 104,533 $ 104,533 $ 18,380
- 255 250 - 44,915
3,454 1,503 3,282 936,489 1,354,850
3,454 1,503 3,537 250 104,533 1,085,937 1,373,230
49,632 394,179 833,613 1,716,356 4,101,453 3,824,337
(94,789) (28,568) (6,234)
49,632 394,179 833,613 1,716,356 (94,789) 4,072,885 3,818,103
$ 53,086 $ 395,682 $ 837,150 $ 1,716,606 $ 9,744 $ 5,158,822 $ 5,191,333
CITY OF LINO LAKES, MINNESOTA
DEBT SERVICE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
For the Year Ended December 31, 2000
With Comparative Totals For The Year Ended December 31, 1999
Revenue:
General property taxes:
Current and delinquent
Fiscal disparities
Intergovernmental:
State:
HACA and equalization aid
Special assessments:
Current and delinquent
Prepayments
Penalties and interest
Investment earnings
Lease Revenue
Total revenue
Improvement Improvement Improvement Improvement
Bonds of Bonds of Bonds of Bonds of
1992A 1996A 1998A 1998B
9,081 35,073
888 534,714
138 416
28,308
10,107 598,511
107
175,027
175,134
$ 119,193
18,991
12,752
920
20,588
60,095
6,912
239,451
Expenditures:
Debt service:
Principal 280,000 600,000
Interest 137,345 167,300 198,225 92,702
Refunding bond issuance costs - - -
Fiscal charges 750 2,505 599 599
Total expenditures 418,095 769,805 198,824 93,301
Revenue over (under) expenditures (407,988) (171,294) (23,690) 146,150
Other financing sources (uses):
Operating transfer from Capital Project Funds 417,345
Bond proceeds -
Payment to refunding bond escrow
Total other financing sources (uses) 417,345
Net increase (decrease) in fund balance 9,357 (171,294) (23,690) 146,150
Fund balance - January 1 56,864 956,768 80,251 119,488
Fund balance - December 31 $ 66,221 $ 785,474 $ 56,561 $ 265,638
53
loimm
MEN
Now
Statement 12
Public Project Lease Improvement Public Project
Certificates Revenue Revenue Refunding Refunding
of Bonds Bonds Bonds Bonds Totals
Indebtedness of 1990A of 1998A of 1999A of 1999C 2000 1999
$ 264,180 $ 114,224 $ 257,409 $
42,046 18,173 41,031
28,234 12,203 27,552
460 210 345 -
5,379 14,616 32,388 76,434 537
- 112,500 -
340,299 159,426 471,225 76,434 537
273,570
51,390
324,960
15,339
$ 755,006 $ 672,211
120,241 100,023
80,741 87,068
45,181 839,350
731,217 71,887
61,664 34
164,574 56,904
112,500 112,500
2,071,124 1,939,977
- 45,000 1,198,570 1,190,734
267,117 71,025 42,292 1,027,396 1,021,234
- 46,205
230 3,411 450 1,800 10,344 8,640
230 270,528 71,475 89,092 2,236,310 2,266,813
159,196 200,697
4,959 (88,555)
(165,186) (326,836)
2,623 419,968 423,850
�
„ 2,692,969 -
(961,098)
2,623 419,968 2,155,721
15,339 159,196 203,320 4,959 (88,555) 254,782 1,828,885
34,293 234,983 630,293 1,711,397 (6,234) 3,818,103 1,989,218
$ 49,632 $ 394,179 $ 833,613 $ 1,716,356 $ (94,789) $ 4,072,885 $ 3,818,103
OWNS
54
CAPITAL PROJECT FUNDS
Capital Project Funds account for the acquisition or construction of major capital facilities other
Ulan
than those financed by Proprietary Funds and Trust Funds. The City maintained the following
Capital Project Funds during the year:
MINN
IMMIN
Imwr
Capital Improvement Projects - to account for the proceeds from Equipment Certificates.
Closed Bond Fund - to account for excess funds from matured bond issues.
Dedicated Parks - to account for the receipt and use of monies collected from dedicated
parks fees.
Area and Unit Charge - to account for the collection of water and sewer unit charges to
be used for debt payments and construction of infrastructure.
MSA Construction - to account for the collection of assessments on MSA projects.
Street Reconstruction — to account for the financing of future reconstruction of City
streets.
Sealcoating - to account for money received from assessments and developer deposits for
future street sealcoating projects.
Surface Water Management - to account for the financing of surface water management
and storm water improvements.
SAC Revolving - to account for refunds from the Metropolitan Council Environmental
Service for properties that paid Sewer Area Charges (SAC) that will be collected in the
future.
Construction Funds - to account for the construction of public improvements.
Town Center Project - to account for costs associated with the construction of the City
Town Center project.
Civic Center Project - to account for costs associated with the construction of the Civic
Complex project
Tax Increment - to account for development projects financed with tax increments.
CITY OF LINO LAKES, MINNESOTA
CAPITAL PROJECT FUNDS
COMBINING BALANCE SHEET
December 31, 2000
With Comparative Totals for December 31, 1999
Area
Capital Closed and
Improvement Bond Dedicated Unit MSA
Projects Fund Parks Charge Construction
Assets
Cash and investments $ 157,721 $ 836,287 $ 434,984 $ 970,190 $
Cash and investments with escrow agent - -
Accrued interest receivable -
Accounts receivable 15,422
Interfund receivable 6,263,850
Taxes receivable:
Due from County
Delinquent tax increment
Special assessments receivable:
Delinquent 38 4,926
Deferred 41,233 1,711,469
Due from County - 6,011
Advances to Other Funds 582,916
Land held for resale -
Total assets
Liabilities and Fund Balance
Liabilities:
Interfund payable
Accounts payable
Retainage payable
Advances from Other Funds
Deferred revenue
Total liabilities
$ 157,721 $ 877,558 $ 434,984 $ 9,554,784 $
$ - $ - $ -
469 7,211 7,120 21,430
- 582,916 -
1,216 41,413 - 1,716,395
1,685 48,624 590,036 1,737,825
Fund balance (deficit):
Reserved for Advances to Funds 582,916
Reserved for land held for resale
Unreserved:
Designated:
Capital improvements - 7,234,043
Undesignated 156,036 828,934 (155,052) - (425,143)
Total fund balance (deficit) 156,036 828,934 (155,052) 7,816,959 (425,143)
$ 425,143
425,143
Total liabilities and fund balance $ 157,721 $ 877,558 $ 434,984 $ 9,554,784 $
55
Maw
Statement 13
Page 1 of 3
Street
Reconstruction
Sealcoating
Surface
Water SAC Interim
Management Revolving Construction
$ 445,036 $ 154,715 $ 1,160,838 $ 359,657 $ 222,964
1,060
210 1,452
51,892 151,539 353,839
1,248
$ 496,928
$ 307,524 $ 1,517,377 $ 359,657 $ 222,964
57 27,967 3,799
51,892
51,949
151,749 355,291
179,716 359,090
444,979 127,808 1,158,287 - 222,964
- - 359,657 -
444,979 127,808 1,158,287 359,657 222,964
$ 496,928 $ 307,524 $ 1,517,377 $ 359,657 $ 222,964
CITY OF LINO LAKES, MINNESOTA
CAPITAL PROJECT FUNDS
COMBINING BALANCE SHEET
December 31, 2000
With Comparative Totals for December 31, 1999
1994 1995 1996 1997 1998
Construction Construction Construction Construction Construction
Assets
Cash and investments $ $ $ 694,874 $ $
Cash and investments with escrow agent
Accrued interest receivable
Accounts receivable
Interfund receivable
Taxes receivable:
Due from County
Delinquent tax increment
Special assessments receivable:
Delinquent
Deferred
Due from County
Advances to Other Funds
Land held for resale
Total assets
Liabilities and Fund Balance
Liabilities:
Interfund payable
Accounts payable
Retainage payable
Advances from Other Funds
Deferred revenue
Total liabilities
$ $ $ 694,874 $ $
$ $ $ 1,333,772 $ 2,672,946
40,515 156,657
10,235
1,374,287 2,839,838
Fund balance (deficit):
Reserved for Advances to Other Funds
Reserved for land held for resale
Unreserved:
Designated:
Capital improvements - 694,874
Undesignated (1,374,287) (2,839,838)
Total fund balance (deficit) 694,874 (1,374,287) (2,839,838)
Total liabilities and fund balance $ $ $ 694,874 $ $
57
Statement 13
Page 2 of 3
Town Civic Town General
Center Center Center Tax Increment
Project Project Infrastructure Administrative
MEI
989,506
$ 87,400 $ 49,917 $
$ 989,506 $ 87,400 $ 49,917 $
$ 991,196 $ - $ - $ 11,599
4,942 24,029 1,375
Mew
991,196 4,942
lam
989,506
24,029 12,974
82,458 25,888
(991,196) - -
(1,690) 82,458 25,888
(12,974)
(12,974)
$ 989,506 $ 87,400 $ 49,917 $
MINIM
58
CITY OF LINO LAKES, MINNESOTA
CAPITAL PROJECT FUNDS
COMBINING BALANCE SHEET
December 31, 2000
With Comparative Totals for December 31, 1999
Tax Tax Tax Tax Tax
Increment Increment Increment Increment Increment
Financing Financing Financing Financing Financing
1 -4 1 -5 1 -6 1 -7 1 -8
Assets
Cash and investments $ 44,683 $ 31,708 $ $ $ 11,525
Cash and investments with escrow agent -
Accrued interest receivable
Accounts receivable
Interf ind receivable
Taxes receivable:
Due from County 3 574 33 1,314 149
Delinquent tax increment 89 1,974 121
Special assessments receivable:
Delinquent
Deferred
Due from County
Advances to Other Funds
Land held for resale
Total assets
Liabilities and Fund Balance
$ 44,686 $ 32,282 $ 122 $ 3,288 $ 11,795
Liabilities:
Interfund payable $ $ - $ 40,594 $ 381,744 $ -
Accounts payable 17,646 389 41,408 844
Retainage payable
Advances from Other Funds
Deferred revenue 89 1,974 121
Total liabilities 17,646 41,072 425,126 965
Fund balance (deficit):
Reserved for Advances to Other Funds
Reserved for land held for resale
Unreserved:
Designated: 10,830
Capital improvements 44,686 14,636
Undesignated - (40,950) (421,838) -
Total fund balance (deficit) 44,686 14,636 (40,950) (421,838) 10,830
Total liabilities and fund balance $ 44,686 $ 32,282 $ 122 $ 3,288 $ 11,795
59
IMEID
Statement 13
Page 3 of 3
•M, Tax Tax
Inci,,uent Increment
Financing Financing Totals
1 -9 3 -1 2000 1999
$ $
IIMINIE
MOM
$
IIMN
111,942
$ 5,662,499 $ 5,368,066
- 2,571
10
15,422 16,805
6,263,850 5,772,540
115,075 13,238
6,674 8,858 5,848
6,626 5,920
2,309,972 3,222,475
7,259 3,452
582,916 251,570
989,506 989,506
$ 118,616 $ 15,961,983 $ 15,652,001
$ 6,441 $ 166,555 $ 6,029,990 $ 5,624,924
1,797 91,341 448,996 860,422
10,235 350,436
582,916 251,570
6,674 2,326,814 3,234,243
8,238 264,570 9,398,951 10,321,595
Mow
(8,238)
(8,238)
582,916 251,570
989,506 989,506
10,061,453 9,598,382
(145,954) (5,070,843) (5,509,052)
(145,954) 6,563,032 5,330,406
$ $ 118,616 $ 15,961,983 $ 15,652,001
Maw
60
CITY OF LINO LAKES, MINNESOTA
CAPITAL PROJECT FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE
For The Year Ended December 31, 2000
With Comparative Totals For The Year Ended December 31, 1999
Capital Closed Area and
Improvement Bond Dedicated Unit MSA
Projects Fund Parks Charge Construction
Revenue:
General property taxes:
Tax increments $ $ $ $ $
Special assessments:
Current and delinquent 16,421 169,558
Prepayments - 156,022 1,123,892
Penalties and interest 883 322
Utility Charges - - 151,522
Investmenteamings 12,813 35,850 16,833 387,061
Refunds and reimbursements 8,000 -
Miscellaneous
Rental payments -
Park dedication fees 96,400 - 167,087
Sale of property -
-
Total miscellaneous 96,400 167,087
Total revenue 117,213 209,176 183,920 1,832,355
Expenditures:
Current:
General govemment:
Contractual services 6,981 68,983 262
Public works:
Contractual services 2,342
Capital outlay:
General government 30,342 - - -
Public safety 155,136 -
Public works 80,881
Parks, recreation and forestry 40,674 94,488 -
Debt service:
Principal 250,000 -
Interest 4,142
Construction/acquisition -
Total expenditures 309,375 8,981 348,630 68,983 262
Revenue over (under) expenditures (192,162) 200,195 (164,710) 1,763,372 (262)
Other financing sources (uses):
Operating transfer from Capital Project Funds - 50,000
Operating transfer to General Fund (56,875) - -
Operating transfer to Debt Service Funds - (417,345)
Operating transfer to Enterprise Funds (18,800) - (301,709) -
Contract for deed proceeds - -
Bond proceeds 325,450 -
Total other financing sources (uses) 249,775 50,000 (719,054)
Net increase (decrease) in fund balance 57,613 200,195 (114,710) 1,044,318 (262)
Fund balance (deficit)
Beg nning of year, as previously stated 98,423 626,739 (40,342) 7,204,559 (424,881)
Prior period adjustment
Beginning of year, as restated 98,423 628,739 (40,342) 7,204,559 (424,881)
Residual equity transfer in
Residual equity transfer out (431,918)
Fund balance (deficit) - December 31 $ 156,036 $ 828,934 $ (155,052) $ 7,816,959 $ (425,143)
61
WIM
IMMO
■
MINN
Statement 14
Page 1 of 3
Surface
Street Water SAC Interim
Reconstruction Sealcoating Management Revolving Construction
12 16,742 30,909
183,596 224,906 329,769
3 18 52
17,771 6,872 63,237 18,418 11,248
33,225
■
201,382 281,763
■
423,967 18,418
3,067 67,150
3,067
198,315
210,549
210,549
54,580
472,651
594,381
41,342
41,342
52,590
5,955 31,943
1,703
5,955 33,646
71,214 (170,414) 12,463 18,944
198,315 71,214 (170,414) 12,463 18,944
246,664 56,594 1,328,701 347,194 204,020
246,664 56,594 1,328,701 347,194 204,020
■
$ 444,979 $ 127,808 $ 1,158,287 $ 359,657 $ 222,964
62
CITY OF LINO LAKES, MINNESOTA
CAPITAL PROJECT FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE
For The Year Ended December 31, 2000
With Comparative Totals For The Year Ended December 31, 1999
1994 1995 1996 1997 1998
Construction Construction Construction Construction
Construction
Revenue:
General property taxes:
Tax increments
Special assessments:
Current and delinquent - -
Prepayments -
Penalties and interest
Utility Charges
Investment earrings 5,461 - 35,123 -
Refunds and reimbursements - 15,814
Miscellaneous
Rental payments - -
Park dedication fees
Sale of property -
-
Total miscellaneous
Total revenue 5,461 - 35,123 15,814
Expenditures:
Current:
General government:
Contractual services 1,897 45 164,487 275,339
Public works:
Contractual services - -
Capital outlay
General government
Public safety -
Public works
Parks, recreation and forestry - -
Debt service:
Principal
Interest -
Construction/acquisition 8,287 - 4,301 361
Total expenditures 10,184 - 45 168,788 275,700
Revenue over (under) expenditures (4,723) - 35,078 (168,788) (259,886)
Other financing sources (uses):
Operating transfer from Capital Project Funds
Operating transfer to General Fund
Operating transfer to Debt Service Funds
Operating transfer to Enterprise Funds
Contract for deed proceeds
Bond proceeds
Total other financing sources (uses)
Net increase (decrease) in fund balance (4,723) 35,078 (168,788) (259,886)
Fund balance (deficit)
Beginning of year, as previously stated (436,219) 9,024 659,796 (1,205,499) (2,579,952)
Prior period adjustment
Beginning of year, as restated (436,219) 9,024 659,796 (1,205,499) (2,579,952)
Residual equity transfer in 440,942 - -
Residual equity transfer out (9,024)
Fund balance (deficit) - December 31 $ $ $ 694,874 $ (1,374,287) $ (2,839,838)
63
MEM
WIEM
IMm
IMMO
Yaw
fmm
Statement 14
Page 2 of 3
Town Civic Town General
Center Center Center Tax Increment
Project Project Infrastructure Administrative
169
27,811
27,980
9,787
5,430 2,268
33,867
39,297 12,055
3,439
24,029 5,790
3,439 24,029 5,790
(27,980) 35,858 (11,974) (5,790)
(27,980)
(93,710)
120,000
(2,623)
(2,623)
33,235 (11,974) (5,790)
49,223 37,862 (7,184)
26,290 49,223 37,862 (7,184)
$ (1,690) $ 82,458 $ 25,888 $ (12,974)
64
CITY OF LINO LAKES, MINNESOTA
CAPITAL PROJECT FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE
For The Year Ended December 31, 2000
With Comparative Totals For The Year Ended December 31, 1999
Tax Increment Tax Increment Tax Increment Tax Increment Tax Increment
Financing Financing Financing Financing Financing
1-4 1 -5 1 -6 1 -7 1 -8
Revenue:
General property taxes:
Tax increments $ 170 $ 43,101 $ 8,998 $ 351,067 $ 35,049
Special assessments:
Current and delinquent
Prepayments
Penalties and interest
Utility Charges -
Investment earnings 2,265 840 - 328
Refunds and reimbursements -
Miscellaneous
Rental payments -
Park dedication fees -
Sale of property
Total miscellaneous
Total revenue 2,435 40,941 8,998 351,067 35,377
Expenditures:
Current:
General government:
Contractual services
Public works:
Contractual services
Capital outlay
General government
Public safety
Public works
Parks, recreation and forestry
Debt service:
Principal
Interest
Construction/acquisition
Total expenditures
137 37,426 9,412 314,408 45,631
137
37,426 9,412 314,408 45,631
Revenue over (under) expenditures 2,298 3,515 (414) 36,659 (10,254)
Other financing sources (uses):
Operating transfer from Capital Project Funds -
Operating transfer to General Fund - - -
Operating transfer to Debt Service Funds - -
Operating transfer to Enterprise Funds - -
Contract for deed proceeds
Bond proceeds - - -
Total other financing sources (uses)
Net increase (decrease) in fund balance 2,298 3,515 (414) 36,659 (10,254)
Fund balance (deficit)
Beginning of year, as previously stated 42,388 1':,121 (40,536) (458,497) 21,084
Prior period adjustment -
Benningofyear,asrestated 42,388 1.,121 (40,536) (458,497) 21,084
Residual equity transfer in
Residual equity transfer out
Fund balance (deficit) - December 31 $ 44,686 $ 14,636 $ (40,950) $ (421,838) • $ 10,830
65
Statement 14
Page3 of3
Tax Increment Tax Increment
■
Financing Financing Totals
1 -9 3 -1 2000 1999
$ 11,505 $ 585,702 $ 1,032,592 $ 837,036
11,505
233,642 744,222
2,018,185 815,234
11,065 48,871
151,522 119,294
621,818 145,691
90,906 44,960
52,605
263,487 39,126
41,342 -
304,829 91,731
585,702 4,464,559 2,847,039
7,847 415,386 1,418,127 989,693
IMIM
72,559 1,392
33,781 5,250
155,136 173,149
135,461 100,369
135,162 1,078,266
250,000
4,142
725,663 8,775,128
7,847 415,386 2,930,031 11,123,247
3,658 170,316 1,534,528 (8,276,208)
IMM
IMMO
IMINIIII
50,000 368,664
(56,875) (55,783)
(419,968) (703,340)
(320,509) -
600,000
325,450 307,570
(421,902) 517,111
3,658 170,316 1,112,626 (7,759,097)
(316,270) 5,330,406 13,089,503
- 120,000
(316,270) 5,450,406 13,089,503
440,942
(440,942)
$ (8,238) $ (145,954) $ 6,563,032 $ 5,330,406
Maya
MIMI
66
ENTERPRISE FUNDS
MwMi
_ Enterprise Funds are used to account for operations that are financed and operated in a manner
similar to private business enterprises. The intent of the government's council is the cost of
providing goods or services to the general public on a continuing basis be financed or recovered
primarily through user charges; or where the government's council has decided that periodic
—
determination of net income is appropriate for accountability purposes. The City maintained the
following Enterprise Funds during the year:
Water Fund - to account for customer water service charges that are used to finance
water operating expenses.
Sewer Fund - to account for customer sewer service charges that are used to finance
sewer operating expenses.
CITY OF LINO LAKES, MINNESOTA
ENTERPRISE FUNDS
COMBINING BALANCE SHEET
December 31, 2000
With Comparative Totals For December 31, 1999
Statement 15
Assets
Totals
Water Sewer 2000 1999
Current assets:
Cash and cash equivalents $ 366,689 $ 911,941 $ 1,278,630 $ 804,086
Cash and investments with escrow agent 650,367 - 650,367 652,895
Accrued interest receivable 12,734 - 12,734 8,321
Accounts receivable 96,884 110,008 206,892 205,576
Special assessments receivable:
Due from county 173 173 346 1,541
Prepaid items 3,663 3,008 6,671 4,750
Total current assets 1,130,510 1,025,130 2,155,640 1,677,169
Long term assets:
Special assessments, long terra 298,990 298,990 309,865
Fixed assets:
Buildings 48,690 48,690 48,690
Equipment 119,946 163,456 283,402 252,401
Water and sewer systems 14,137,319 15,938,234 30,075,553 28,842,286
Total fixed assets 14,305,955 16,101,690 30,407,645 29,143,377
Less: Allowance for depreciation (1,659,250) (2,017,890) (3,677,140) (3,067,757)
Net fixed assets 12,646,705 14,083,800 26,730,505 26,075,620
Total assets $ 14,076,205 $ 15,108,930 $ 29,185,135 $ 28,062,654
Liabilities and Fund Equity
Current liabilities:
Accounts payable $ 75,205 $ 20,300 $ 95,505 $ 43,047
Salaries payable 4,199 4,199 8,398 12,583
Accrued interest payable 97,276 - 97,276 99,086
Due to other governmental units 1,217 1,217 3,609
Bonds payable - current portion 875,000 875,000 210,000
Total current liabilities 1,052,897 24,499 1,077,396 368,325
Long -term liabilities:
Bonds payable - long term 3,465,000 - 3,465,000 4,340,000
Compensated absences - payable 14,919 14,919 29,838 12,217
Total liabilities 4,532,816 39,418 4,572,234 4,720,542
Fund equity:
Contributed capital 9,137,401 13,980,160 23,117,561 22,389,099
Retained earnings 405,988 1,089,352 1,495,340 953,013
Total fund equity 9,543,389 15,069,512 24,612,901 23,342,112
Total liabilities and fund equity $ 14,076,205 $ 15,108,930 $ 29,185,135 $ 28,062,654
CITY OF LINO LAKES, MINNESOTA
ENTERPRISE FUNDS
COMBINING STATEMENT OF REVENUE, EXPENSES
AND CHANGES IN RETAINED EARNINGS
For The Year Ended December 31, 2000
With Comparative Totals For The Year Ended December 31, 1999
Statement 16
Totals
Water Sewer 2000 1999
taw Operating revenue:
Charges for services $ 613,575 $ 849,750 $ 1,463,325 $ 1,132,112
Hook -up charges 32,800 26,100 58,900 61,035
Water meter sales 71,242 71,242 68,172
Other operating revenue 1,205 1,205 7,572
Total operating revenue 718,822 875,850 1,594,672 1,268,891
Operating expenses:
Personal services 128,532 133,752 262,284 238,667
Materials and supplies 252,662 4,525 257,187 137,852
Contractual services 41,952 82,595 124,547 98,557
Repair and maintenance 1,568
MCES sewer charges 396,800 396,800 368,937
Depreciation:
- Purchased assets 89,963 14,615 104,578 102,777
Contributed assets 198,004 306,801 504,805 412,573
Utilities 63,630 22,627 86,257 71,367
Other 8,407 1,430 9,837 13,142
Total operating expenses 783,150 963,145 1,746,295 1,445,440
Net income (loss) from operations (64,328) (87,295) (151,623) (176,549)
Other income (expense):
Investment earnings 30,572 40,166 70,738 14,668
Special assessments 26,244 9,266 35,510 42,010
Bond interest (234,812) - (234,812) (228,000)
_
Paying agent fees (2,800) (2,800) (2,800)
Total other income (expense) (180,796) 49,432 (131,364) (174,122)
Net income (loss) before operating transfers (245,124) (37,863) (282,987) (350,671)
Operating transfers:
Operating transfer from General Fund 49,366
Operating transfer from Capital Projects Fund 320,509 320,509 -
Total operating transfers 320,509 320,509 49,366
Net income (loss) 75,385 (37,863) 37,522 (301,305)
Credit arising from transfer of depreciation
to contributed capital 198,004 306,801 504,805 412,573
Retained earnings - January 1 132,599 820,414 953,013 841,745
Retained earnings - December 31 $ 405,988 $ 1,089,352 $ 1,495,340 $ 953,013
CITY OF LINO LAKES, MINNESOTA
ENTERPRISE FUNDS
COMBINING STATEMENT OF CASH FLOWS
For The Year Ended December 31, 2000
With Comparative Totals For The Year Ended December 31, 1999
Statement 17
Totals
Water Sewer 2000 1999
Cash flows from operating activities:
Operating income $ (64,328) $ (87,295) $ (151,623) $ (176,549)
Adjustments to reconcile operating income to
net cash flows from operating activities:
Depreciation 287,967 321,416 609,383 515,350
Change in assets and liabilities:
Decrease (increase) in receivables 14,983 (8,642) 6,341 42,116
Decrease (increase) in prepaid items (2,225) 304 (1,921) 31,079
Increase (decrease) in payables 35,360 26,332 61,692 29,498
Net cash flows from operating activities 271,757 252,115 523,872 441,494
Cash flows from noncapital financing activities:
Operating transfer from General Fund - 49,366
Operating transfer from Capital Project Funds 320,509 320,509 -
Net cash flows from noncapital financing activities 320,509 320,509 49,366
Cash flows from capital and related financing activities:
Principal paid on revenue bonds (210,000) (210,000) (205,000)
Proceeds from issuance of refunding bonds 680,000
Investment with escrow agent 2,528 - 2,528 (652,895)
Collection of special assessments 26,244 9,266 35,510 42,010
Interest and paying agent fees on revenue bonds (237,612) - (237,612) (230,800)
Acquisition of fixed assets (2,647) (28,354) (31,001) (43,423)
Net cash tows from capital and related financing activities (421,487) (19,088) (440,575) (410,108)
Cash flows from investing activities:
Interest on investments
30,572 40,166 70,738 14,668
Net increase (decrease) in cash and cash equivalents 201,351 273,193 474,544 95,420
Cash and cash equivalents - January 1 165,338 638,748 804,086 708,666
Cash and cash equivalents - December 31 $ 366,689 $ 911,941 $ 1,278,630 $ 804,086
- Water lines in the amount of $574,762 were contributed to the Water Fund in 2000.
- Sewer lines in the amount of $658,505 were contributed to the Sewer Fund in 2000.
AGENCY FUNDS
Agency Funds are used to account for assets held by the City as an agent for individuals, private
organizations, other governments and/or other funds. The City maintained the following Agency
Funds during the year:
Contractor's Deposits - to account for pass - through costs relating to prospective
developers.
Pending Assessments Deposits - to account for prepayment of special assessments by
developers prior to Council adoption.
Investment Fund - to account for the pooling of investments of the City.
CITY OF LINO LAKES, MINNESOTA
AGENCY FUNDS
COMBINING BALANCE SHEET
December 31, 2000
(With Comparative Totals For December 31, 1999)
Statement 18
Pending
Contractors Assessment Investment Totals
Deposits Deposits Fund 2000 1999
Assets
Cash and investments $ 503,336 $ 24,920 $ - $ 528,256 $ 466,564
Accrued interest receivable - 126,030 126,030 127,024
Deposits receivable 10,520 10,520 10,520
Total assets $ 513,856 $ 24,920 $ 126,030 $ 664,806 $ 604,108
Liabilities
Interfund payable $ $ - $ 124,567 $ 124,567 $ 126,482
Accounts payable 57,190 1,463 58,653 50,040
Deposits payable 456,666 24,920 481,586 427,586
Total liabilities $ 513,856 $ 24,920 $ 126,030 $ 664,806 $ 604,108
70
CITY OF LINO LAKES, MINNESOTA
AGENCY FUNDS
COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
For The Year Ended December 31, 2000
Statement 19
Balance Balance
January 1, December 31,
2000 Additions Deletions 2000
!' Contractors deposits:
Assets
Cash and investments $ 441,644 $ 777,606 $ 715,914 $ 503,336
Deposits receivable 10,520 10,520
Total assets $ 452,164 $ 777,606 $ 715,914 $ 513,856
Liabilities
Accounts payable $ 49,498 $ 417,857 $ 410,165 $ 57,190
Deposits payable 402,666 812,460 758,460 456,666
Total Liabilities $ 452,164 $ 1,230,317 $ 1,168,625 $ 513,856
Pending Assessment Deposits:
Assets
Cash and investments
Liabilities
Deposits payable
Investment Fund:
Assets
Accrued interest receivable
$ 24,920 $ 365,641 $ 365,641 $ 24,920
$ 24,920 $ 365,641 $ 365,641 $ 24,920
127,024 $ 126,030 $ 127,024 $ 126,030
Liabilities
Interfund payable $ 126,482 $ 124,567 $ 126,482 $ 124,567
Accounts payable 542 1,463 542 1,463
Total Liabilities $ 127,024 $ 126,030 $ 127,024 $ 126,030
Totals -All Trust and Agency Funds:
Assets
Cash and investments $ 466,564 $ 1,143,247 $ 1,081,555 $ 528,256
Accrued interest receivable 127,024 994 126,030
Deposits receivable 10,520 10,520
Total assets $ 604,108 $ 1,143,247 $ 1,082,549 $ 664,806
Liabilities
Interfund payable $ 127,024 $ $ 2,457 $ 124,567
Accounts payable 49,498 419,320 410,165 58,653
Deposits payable 427,586 1,178,101 1,124,101 481,586
Total liabilities $ 604,108 $ 1,597,421 $ 1,536,723 $ 664,806
71
GENERAL FIXED ASSETS ACCOUNT GROUP
The City maintains a separate account group for the fixed assets used in the governmental fund
type operations. They are assets of the City as a whole and not of individual funds.
CITY OF LINO LAKES, MINNESOTA
SCHEDULE OF GENERAL FIXED ASSETS - BY SOURCE
For the Year Ended December 31, 2000
Statement 20
Balance Balance
January 1, December 31,
2000 Additions Deletions 2000
Land and improvements $ 2,208,755 $ 832,082 $ - $ 3,040,837
Buildings 6,418,767 5,133 6,423,900
Office equipment and furniture 789,751 159,534 8,047 941,238
Vehicles 1,019,332 113,420 52,307 1,080,445
Machinery and Shop Equipment 549,976 138,320 112,456 575,840
Other 704,037 14,333 718,370
Totals $ 11,690,618 $ 1,262,822 $ 172,810 $ 12,780,630
Investment in General Fixed Assets from:
General Fund $ 1,005,117
Special Revenue Funds 3,585
Capital Project Funds 9,698,145
Grants 45,252
Donations 69,746
Debt Service Funds 61,400
Assets acquired before January 1, 1992 1,897,385
Total investment in General Fixed Assets $ 12,780,630
72
CITY OF LINO LAKES, MINNESOTA
SCHEDULE OF GENERAL FIXED ASSETS
BY FUNCTION AND ACTIVITY
As of December 31, 2000
Mow
Statement 21
General government:
Administration /finance
Elections
Economic development
Engineering /planning
Government buildings
Senior center
Total general government
OWED
Public safety:
Police
Office Machinery
Land Equipment and
and and Shop Other
Improvements Buildings Furniture Vehicles Equipment Improvements Total
$ $
284,431
985,155
1,269,586
6,410,942
6,410,942
$ 97,870 $ $
48,805
8,825 19,201
13,107 32,330
459,675
8,628
636,910 51,531
144,502
$ $ 97,870
48,805
312,457
45,437
6,809 21,879 7,884,460
8,628
6,809 21,879 8,397,657
386,349 3,000
107,724 641,575
Public works:
Streets 12,958 4,629 511,609 283,450 812,646
Shop - 21,202 35,528 56,730
Surface water management 472,651 71,241 543,892
Total public works 472,651 12,958 25,831 511,609 390,219 1,413,268
Parks, recreation and forestry:
Parks, recreation and forestry
Total parks, recreation and forestry
1,298,600
1,298,600
133,995 130,956 175,812 588,767 2,328,130
133,995 130,956 175,812 588,767 2,328,130
Totals $ 3,040,837 $ 6,423,900 $ 941,238 $ 1,080,445 $ 575,840 $ 718,370 $ 12,780,630
tame
73
CITY OF LINO LAKES, MINNESOTA
SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS
BY FUNCTION AND ACTIVITY
For The Year Ended December 31, 2000
Statement 22
Balance Balance
January 1, December 31,
2000 Additions Deletions 2000
General government:
Administration/finance $ 77,298 $ 20,572 $ $ 97,870
Elections 21,531 27,275 48,806
Economic development 24,222 288,235 312,457
Engineering/planning 45,437 - - 45,437
Government buildings 7,788,418 104,088 8,047 7,884,459
Senior center 8,628 8,628
Total general government 7,965,534 440,170 8,047 8,397,657
Public safety.
Police 574,024
Building inspections 6,459
Total public safety 580,483
93,899
93,899
26,348 641,575
6,459
32,807 641,575
Public works:
Streets 821,048 80,133 88,536 812,645
Shop 36,540 20,190 56,730
Surface water management 16,662 527,231 543,893
Total public works 874,250 627,554 88,536 1,413,268
Parks, recreation and forestry.
Parks, recreation and forestry 2,270,351 101,199 43,420 2,328,130
Total parks, recreation and forestry 2,270,351 101,199 43,420 2,328,130
Totals $ 11,690,618 $ 1,262,822 $ 172,810 $ 12,780,630
74
GENERAL LONG -TERM DEBT ACCOUNT GROUP
The General Long -Term Debt Account Group is used to account for long -term debt of the City
other than debt recorded in the Enterprise Funds.
CITY OF LINO LAKES, MINNESOTA
SCHEDULE OF GENERAL LONG -TERM DEBT
December 31, 2000
Statement 23
December 31,
2000 1999
Amount Available And To Be Provided For The
Retirement of General Long -Term Debt:
Amount available in Debt Service Fund $ 4,072,885 $ 3,818,103
Amount to be provided - future tax levies /assessments /tax increment collections 17,537,953 18,853,001
Total available and to be provided $ 21,610,838 $ 22,671,104
General Long -Term Debt Payable:
Bonds payable:
General Obligation Bonds:
1997 Equipment Certificates 75,000
1998 Equipment Certificates 96,000 192,000
1999 Equipment Certificates 205,000 307,570
2000 Equipment Certificates 325,450 -
Civic Complex Lease Revenue Bonds - 1998A 5,350,000 5,350,000
Public Project Revenue Refunding Bonds - I999C 935,000 980,000
Total general obligation bonds 6,91 1,450 6,904,570
Special assessment bonds:
G. O. Improvement Bonds of 1992A 1,970,000 2,250,000
G. O. Improvement Bonds of 1996A 3,160,000 3,760,000
G. O. Improvement Bonds of 1998A 4,310,000 4,310,000
G. O. Improvement Bonds of 1998B 2,000,000 2,000,000
G. O. Improvement Bonds of 1999A 1,725,000 1,725,000
Total special assessment bonds 13,165,000 14,045,000
Total bonds payable 20,076,450 20,949,570
Contracts for deed payable 1,209,352 1,459,352
Compensated absences payable 325,036 262,182
Total general long -term debt $ 21,610,838 $ 22,671,104
75
SUPPLEMENTARY FINANCIAL INFORMATION
CITY OF LINO LAKES, MINNESOTA
COMBINED SCHEDULE OF INDEBTEDNESS
December 31, 2000
Interest
Rates
Dated
Final
Maturity
Date
General Obligation Bonds:
1997 Equipment Certificates 6.00% 2/1/97 12/31/00
1998 Equipment Certificates 6.00% 2/1/98 12/31/01
1999 Equipment Certificates 6.00% 2/1/99 12/31/02
2000 Equipment Certificates 6.00% 2/1/00 12/31/03
Civic Complex Lease Revenue Bonds - 1998A 4.20% -5.35% 8/1/98 2/1/19
Public Project Revenue Refunding Bonds - 1999C 4.75% -5.10% 9/1/99 2/1/10
Total General Obligation Bonds
Special Assessment Bonds:
G. O. Improvement Bonds of 1992A 4.00 % -6.70% 4/1/92 2/1/06
G. O. Improvement Bonds of 1996A 4.20 % -5.20% 10/1/96 2/1/07
G. O. Improvement Bonds of 1998A 4.50 % -4.90% 8/1/98 2/1/15
G. O. Improvement Bonds of 1998B 4.50% -4.90% 8/1/98 2/1/15
G. O. Improvement Refunding Bonds of 1999A 4.25 % -4.70% 9/1/99 2/1/06
Total General Improvement Bonds with special assessments pledged
Revenue Bonds:
G. O. Water Revenue Bonds of 1992B 4.50 % -6.80% 4/1/92 2/1/08
G. O. Water Revenue Bonds of 1996B 4.10% -5.70% 10/1/96 2/1/12
G. O. Water Revenue Refunding Bonds of 1999B 4.25 % -4.90% 9/1/99 2/1/08
Total Revenue Bonds
Total - all bonds
Contract for deed payable 8.00% 7/2/97 2/1/02
Contract for deed payable 8.00% 12/1/97 12/1/02
Contract for deed payable 6.00% 12/21/99 2/1/02
Total - Contracts for deed
Total City indebtedness
76
Exhibit 1
Prior Years Principal Interest
Original Payable 2000 Payable Due Due
Issue Payments 1/1/00 Issued Payments 12/31/00 In 2001 In 2001
$ 225,000 $ 150,000 $ 75,000 $ $ 75,000 $ - $ - $ -
287,734 95,734 192,000 96,000 96,000 96,000 5,760
307,570 - 307,570 102,570 205,000 102,500 12,300
325,450 325,450 108,550 37,427
5,350,000 5,350,000 5,350,000 165,000 263,653
980,000 980,000 45,000 935,000 85,000 43,146
7,150,304 245,734 6,904,570 325,450 318,570 6,911,450 557,050 362,286
3,640,000 1,390,000 2,250,000 280,000 1,970,000 1,970,000 64,403
4,685,000 925,000 3,760,000 600,000 3,160,000 595,000 140,115
_
4,310,000 4,310,000 - 4,310,000 290,000 191,700
2,000,000 2,000,000 2,000,000 115,000 90,115
1,725,000 1,725,000 1,725,000 - 77,481
16,360,000 2,315,000 14,045,000 880,000 13,165,000 2,970,000 563,814
1,060,000 275,000 785,000 - 65,000 720,000 720,000 23,855
_
3,320,000 235,000 3,085,000 145,000 2,940,000 155,000 151,400
680,000 - 680,000 - 680,000 - 31,295
5,060,000 510,000 4,550,000 210,000 4,340,000 875,000 206,550
Mai
28,570,304 3,070,734 25,499,570 325,450 1,408,570 24,416,450 4,402,050 1,132,650
598,382 86,668 511,714 511,714 -
347,638 - 347,638 - 347,638 - 27,811
600,000 600,000 250,000 350,000 250,000 21,000
1,546,020 86,668 1,459,352 250,000 1,209,352 250,000 48,811
$30,116,324 $ 3,157,402 $26,958,922 $ 325,450 $ 1,658,570 $25,625,802 $ 4,652,050 $ 1,181,461
77
CITY OF LINO LAKES, MINNESOTA
SCHEDULE OF DEFERRED TAX LEVIES
December 31, 2000
Exhibit 2
Public G.O.
G. 0. Lease G. 0. Project Improvement
Year of Equipment Equipment Equipment Improvement Revenue Improvement Refunding Refunding
Levy/ Certificates Certificates Certificates Bonds Bonds Bonds Bonds Bonds
Collection of 1998 of 1999 of 2000 of 1992A of 1998A of 1998B of 1999C of 1999A Total
2000/2001 $ 101,760 $ 120,540 $ 153,276 $ 353,352 $ 330,947 $ 154,604 $ 417,356 $ 122,110 $ 1,753,945
_
2001/2002 - 114,082 127,537 358,981 338,888 151,273 418,826 118,317 1,627,904
2002/2003 - 120,705 367,953 345,959 153,192 419,187 119,685 1,526,681
2003/2004 - 369,724 325,988 154,876 418,399 120,729 1,389,716
2004/2005 348,731 332,525 151,072 390,270 126,641 1,349,239
2005/2006 343,382 152,519 121,459 617,360
2006/2007 353,031 153,729 126,667 633,427
2007/2008 361,562 154,704 516,266
- 2008/2009 368,387 155,441 523,828
2009/2010 485,462 155,796 641,258
2010/2011 485,987 155,757 641,744
2011/2012 490,655 155,313 645,968
.-
2012/2013 489,001 154,537 643,538
2013/2014 491,258 158,719 649,977
2014/2015 492,413 492,413
2015/2016 497,716 497,716
_
2016/2017 501,215 501,215
2017/2018 503,310 503,310
lamp
$ 101,760 $ 234,622 $ 401,518 $ 1,798,741 $ 7,537,686 $ 2,161,532 $ 2,064,038 $ 855,608 $ 15,155,505
78
CITY OF LINO LAKES, MINNESOTA
DEBT SERVICE PAYMENTS TO MATURITY - ALL BONDS
December 31, 2000
G. O.
Improvement G. 0. G. 0. G. 0.
Equipment Equipment Equipment Refunding Improvement Improvement Improvement
Certificates Certificates Certificates Bonds Bonds Bonds Bonds
1998 1999 2000 of 1992A of 1996A of 1998A of 1998B
Bonds payable $ 96,000 $ 205,000 $ 325,450 $ 1,970,000 $ 3,160,000 $ 4,310,000 $ 2,000,000
Future interest payable 5,760 18,450 56,948 64,403 500,880 1,502,475 762,167
Totals $ 101,760 $ 223,450 $ 382,398 $ 2,034,403 $ 3,660,880 $ 5,812,475 $ 2,762,167
Payments to maturity.
2001 101,760 114,800 145,977 2,034,403 735,115 481,700 205,115
2002 - 108,650 121,464 - 702,565 468,650 195,053
2003 114,957 493,980 455,600 190,103
2004 - 469,460 442,550 190,040
2005 444,785 429,500 189,752
2006 419,965 416,450 184,352
2007 395,010 403,400 183,840
2008 385,462 183,103
2009 372,637 182,140
2010 359,670 180,882
2011 346,489 179,256
2012 333,094 177,248
2013 319,485 174,888
2014 305,805 172,230
2015 291,983 174,165
2016 - -
2017
2018 -
2019 -
2020
2021 -
$ 101,760 $ 223,450 $ 382,398 $ 2,034,403 $ 3,660,880 $ 5,812,475 $ 2,762,167
79
Exhibit 3
G. 0. G. 0. G. 0. G. 0. Water Civic Public
Improvement Water Water Revenue Complex Project
_, Refunding Revenue Revenue Refunding Revenue Revenue
Bonds Bonds Bonds Bonds Bonds Bonds
of 1999A of 1992B of 1996B of 1999B of 1998A of 1999C Totals
$ 1,725,000 $ 720,000 $ 2,940,000 $ 680,000 $ 5,350,000 $ 935,000 $ 24,416,450
279,489 23,855 1,151,575 150,510 3,087,305 234,105 7,837,922
$ 2,004,489 $ 743,855 $ 4,091,575 $ 830,510 $ 8,437,305 $ 1,169,105 $ 32,254,372
77,481 743,855 306,401 31,295 428,653 128,147 5,534,702
390,682 304,075 114,489 431,469 124,109 2,961,206
- 391,553 301,355 110,834 438,618 120,071 2,617,071
391,350 303,108 111,983 444,975 116,034 2,469,500
390,081 304,195 112,795 426,078 131,521 2,428,707
363,342 299,725 118,143 431,860 126,534 2,360,371
-
299,680 113,154 441,625 116,640 1,953,349
298,915 117,817 450,282 111,790 1,547,369
419,034 457,595 101,964 1,533,370
- 419,682 346,594 92,295 1,399,123
418,864 455,094 - 1,399,703
416,541 455,068 1,381,951
- 459,002 953,375
456,790 934,825
458,415 924,563
458,990 458,990
- 463,181 463,181
465,845 465,845
467,171 467,171
$ 2,004,489 $ 743,855 $ 4,091,575 $ 830,510 $ 8,437,305 $ 1,169,105 $ 32,254,372
CITY OF LINO LAKES, MINNESOTA
INSURANCE IN FORCE
December 31, 2000
Exhibit 4
Coverage Amount
General Liability.
Bodily Injury/Property Damage $ 1,000,000
Personal Injury/Police Professional Liability 1,000,000
Employee Benefit Liability 1,000,000
Fire Legal Liability 50,000
Medical Expense Occurrence Limit 1,000
Medical Expense Aggregate 10,000
Property Damage ($500 Deductible)
Property.
Buildings and Contents (including Mobile and EDP - Electronic Equipment & Valuable Papers) 17,438,172
Faithful Performance Blanket Bond 500,000
Storage Tank Liability 100,000
Rented/Leased Equipment ($500 Deductible) 200,000
Public Official and Employee Liability ($500 Deductible each occurrence) 1,000,000
Automotive:
Bodily injury and property damage 1,000,000
Comprehensive and Collision Actual Cash Value
Uninsured motorists 1,000,000
Workmen's compensation Statutory
Umbrella Liability 1,000,000
Crime - Theft Disappearance and Destruction ($500 Deductible) 50,000
— CITY OF LINO LAKES, MINNESOTA
TAXABLE VALUATIONS, TAX LEVIES AND TAX RATES Exhibit 5
Tax Capacity Tax Capacity
Values Values
—
1999/2000 1998/1999
Taxable valuations:
Total $ 11,398,762 $ 10,043,022
— Fiscal disparities:
Distribution 1,551,086 1,382,028
Contribution (549,358) (464,039)
Less: Captured Tax Increment Value (804,752) (646,438)
$ 11,595,738 $ 10,314,573
Tax Tax
Certified Capacity Certified Capacity
Levy Rate Levy Rate
Taxes Levied:
Revenue 3,307,877 28.406 2,926,261 28.503
Bond and Interest 879,649 7.554 773,657 7.536
Totals
Certified levy amount is after HACA reduction
IMMIE
82
$ 4,187,526 35.960 $ 3,699,918 36.039
III.
STATISTICAL
SECTION
CITY OF LINO LAKES, MINNESOTA
GENERAL FUND EXPENDITURES BY FUNCTION
Last Ten Fiscal Years
(Unaudited)
Table 1
Fiscal Total General Public Public Parks and Other
Year Expenditures Government Safety Works Recreation Functions
1991 $ 2,268,639 $ 667,448 $ 845,420 $ 499,737 $ 256,034 $
1992 2,552,835 807,564 910,147 505,096 330,028
1993 2,829,202 911,230 1,025,157 565,019 327,796
1994 3,169,862 1,082,796 1,127,883 554,533 404,650
1995 3,557,038 1,173,047 1,265,064 700,873 418,054
1996 3,966,738 1,289,751 1,446,985 694,455 535,547
1997 4,400,087 1,366,602 1,751,226 697,934 439,263 145,062
1998 5,328,796 1,560,268 1,778,898 673,156 722,728 593,746
1999 5,237,554 1,771,069 1,958,169 628,070 647,163 233,083
2000 5,513,148 1,770,528 2,158,346 786,420 655,863 141,991
CITY OF LINO LAKES, MINNESOTA
GENERAL FUND REVENUES 13Y SOURCE
Last Ten Fiscal Years
- (Unaudited)
Mos
Table 2
Fiscal
Year
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
Total
General
Fund
Revenue
$ 2,421,534
2,705,794
3,177,662
3,295,398
3,772,335
4,627,532
4,736,496
5,722,363
5,343,453
5,613,395
General
Property
Taxes
Levied
Licenses
and
Permits
Inter -
Govemmental
Revenues
Charges Fines
for and Other
Services Forfeits Revenue
$ 1,179,087 $ 332,392 $ 483,015 $ 195,190 $ 86,603 $ 145,247
493,977 607,831 210,129 79,643 107,216
565,684 673,944 239,562 83,019 195,084
383,388 677,337 353,026 72,454 211,651
544,267 738,652 241,393 93,861 212,747
788,480 816,794 308,262 86,158 300,790
566,561 881,459 291,090 99,390 239,511
726,599 1,380,063 347,485 102,489 260,839
823,719 940,053 278,510 87,434 251,073
884,746 702,606 272,145 124,458 323,383
1,206,998
1,420,369
1,597,542
1,941,415
2,327,048
2,658,485
2,904,888
2,962,664
3,306,057
CITY OF LINO LAKES, MINNESOTA
PROPERTY TAX LEVIES AND COLLECTIONS
Last Ten Fiscal Years
(Unaudited)
Table 3
Percent of Percent of
Total Tax Delinquent
Total Current Percentage Delinquent Total Collections Outstanding Taxes to
Fiscal Tax Tax of Levy Tax Tax To Tax Delinquent Tax
Year Levy Collections Collected Collections Collections Levy Taxes Levy
1991 $ 1,717,474 $ 1,674,178 97.48% $ 24,342 $ 1,698,520 98.90% $ 59,664 3.47%
1992 1,865,188 1,805,972 96.83% 24,395 1,830,367 98.13% 76,791 4.12%
1993 2,073,987 2,057,602 99.21% 50,099 2,107,701 101.63% 29,534 1.42%
1994 2,268,950 2,243,045 98.86% 15,014 2,258,059 99.52% 27,804 1.23%
1995 2,634,350 2,613,719 99.22% 21,206 2,634,925 100.02% 22,368 0.85%
1996 3,040,000 3,011,917 99.08% 15,641 3,027,558 99.59% 22,489 0.74%
1997 3,349,400 3,316,426 99.02% 23,962 3,340,388 99.73% 32,598 0.97%
1998 3,589,617 3,564,611 99.30% 30,186 3,594,797 100.14% 29,774 0.83%
1999 4,116,312 4,085,625 99.25% 23,876 4,109,501 99.83% 23,199 0.56%
2000 4,571,888 4,534,998 99.19% 19,452 4,554,450 99.62% 46,344 1.01%
Note: Does not include tax increment levies and collections.
Note: Current tax collections include State levy related credits (HACA).
85
- CITY OF LINO LAKES, MINNESOTA
SPECIAL ASSESSMENT LEVIES AND COLLECTIONS
Last Ten Fiscal Years
(Unaudited)
Table 4
% of Current % of Total
Current Current Collections Delinquent Collections Total
• Fiscal Assmts. Assmts. to Assmts. Assessments Total to Current Outstanding
Year Due Collected Due Collected Collected Assmts. Due Del. Assmts.
▪ 1991 $ 351,941 $ 293,452 83.38% $ 65,396 $ 358,848 101.96% $ 126,088
1992 379,521 306,443 80.74% 82,664 389,107 102.53% 118,690
1993 632,067 580,678 91.87% 39,313 619,991 98.09% 43,036
1994 387,200 355,543 91.82% 32,743 388,286 100.28% 36,497
1995 394,770 353,424 89.53% 26,051 379,475 96.13% 10,221
1996 366,146 355,609 97.12% 26,831 382,440 104.45% 21,040
1997 593,957 589,158 99.19% 20,153 609,311 102.59% 5,692
▪ 1998 664,912 657,041 98.82% 3,561 660,602 99.35% 12,019
1999 520,982 512,433 98.36% 8,429 520,862 99.98% 11,947
2000 503,922 434,857 86.29% 9,078 443,935 88.10% 7,919
CITY OF LINO LAKES, MINNESOTA
RATIO OF ANNUAL DEBT SERVICE EXPENDITURES FOR GENERAL
BONDED DEBT TO TOTAL GENERAL EXPENDITURES
Last Ten Fiscal Years
(Unaudited)
Table 5
Percent of
Debt Service
Interest Total Total Expenditures
Fiscal and Debt General Fund to General
Year Principal Other Service (1) Expenditures (2) Expenditures
1991 $ 127,500 $ 108,872 $ 236,372 $ 2,268,639 10.42%
1992 172,500 114,821 287,321 2,552,835 11.25%
1993 177,500 108,276 285,776 2,829,202 10.10%
1994 282,500 96,268 378,768 3,169,862 11.95%
1995 228,500 96,135 324,635 3,557,038 9.12%
1996 188,000 100,248 288,248 3,966,738 7.27%
1997 188,000 106,785 294,785 4,400,087 6.70%
1998 190,000 112,201 302,201 5,328,796 5.67%
1999 295,734 387,500 683,234 5,237,554 13.04%
2000 273,570 318,507 592,077 5,513,148 10.74%
- (1) Excludes tax increment, special assessment, enterprise, EDA bonds and payments on refunded bonds.
(2) Includes expenditures of General Fund only.
Note: Amounts rounded to the nearest hundred.
CITY OF LINO LAKES, MINNESOTA
ASSESSED AND ESTIMATED ACTUAL VALUE AND
NET BONDED DEBT PER CAPTIA
Last Ten Fiscal Years
(Unaudited)
Taxes Real Personal
Payable Property Property
Total
Fiscal
Disparities
1991 $ 4,250,314 $ 283,565 $ 4,533,879 $ 1,006,228
1992 4,359,156 289,520 4,648,676 1,083,066
1993 4,557,819 309,993 4,867,812 954,529
1994 5,146,854 360,097 5,506,951 970,411
1995 6,204,237 392,508 6,596,745 879,810
1996 7,390,566 435,045 7,825,611 952,790
1997 8,344,972 462,282 8,807,254 1,003,376
1998 9,244,905 434,234 9,679,139 1,036,542
1999 9,649,657 393,365 10,043,022 917,989
2000 11,003,125 395,637 11,398,762 1,001,728
Source: Anoka County Department of Property Records and Taxation.
Table 6
Tax Increment
Assessor's Estimated Ratio of Total
Net Taxable Market Value of Assessed to
Value Taxable Property Actual Value
$ (215,224) $ 5,324,883 $ 264,013,200 2.02%
(245,834) 5,485,908 290,466,200 1.89%
(244,419) 5,577,922 320,714,400 1.74%
(256,841) 6,220,521 368,267,100 1.69%
_, (287,819) 7,188,736 435,100,000 1.65%
(307,790) 8,470,611 501,825,800 1.69%
(410,724) 9,399,906 552,696,200 1.70%
MEMO
Vmsw
(555,542) 10,160,139 627,423,800 1.62%
(646,438) 10,314,573 687,737,400 1.50%
(804,752) 11,595,738 775,398,200 1.50%
89
CITY OF LINO LAKES, MINNESOTA
PROPERTY TAX RATES (3) - DIRECT AND OVERLAPPING GOVERNMENTS
Last Ten Fiscal Years
(Unaudited)
Table 7
Tax Rates (Per $100 of Tax Capacity)
Year
Taxes
Payable City School (1) County Other (2) Total
1991 26.564 68.717 31.400 5.133 131.814
1992 26.822 67.857 32.990 5.306 132.975
1993 29.386 60.589 32.779 6.510 129.264
1994 29.661 62.537 32.680 6.260 131.138
1995 30.772 64.308 32.765 6.977 134.822
1996 31.015 63.103 31.036 5.647 130.801
1997 31.167 66.000 30.542 5.197 132.906
1998 30.437 59.004 30.618 6.342 126.401
1999 36.039 64.802 32.265 6.830 139.936
2000 35.961 58.230 30.861 7.635 132.687
(1) The majority of Lino Lakes is served by School District 12.
(2) Other includes: Metropolitan Council, Mosquito Control, Metropolitan Transit,
Rice Creek Watershed District and Forest Lake Hospital.
(3) The State of Minnesota changed the method of calculating property taxes effective for taxes payable in 1991.
Years 1991 through 1998 retlect tax capacity values based on a different formula than in previous years.
Source: Anoka County Department of Property Records and Taxation.
Inem
CITY OF LINO LAKES, MINNESOTA
RATIO OF NET BONDED DEBT
TO ASSESSED VALUE AND NET BONDED DEBT PER CAPITA
Last Ten Fiscal Years
(Unaudited)
Table 8
Ratio of
Less Net Bonded
Net Taxable Gross Cash and Debt to Net
— Value of Bonded Investments Net Assessed Bonded Debt
Year Population (1) Property Debt (2) on Hand Bonded Debt Value Per Capita
1991 9,273 $ 5,324,883 $ 1,591,000 $ 105,537 $ 1,485,463 27.90% 160.19
1992 10,056 5,485,908 1,553,500 121,842 1,431,658 26.10% 142.37
1993 11,193 5,577,922 1,526,000 222,111 1,303,889 23.38% 116.49
1994 12,266 6,220,521 1,393,500 142,173 1,251,327 20.12% 102.02
1995 13,097 7,188,736 1,341,000 135,440 1,205,560 16.77% 92.05
1996 13,756 8,470,611 1,378,000 194,807 1,183,193 13.97% 86.01
—
1997 14,560 9,399,906 1,415,000 111,834 1,303,166 13.86% 89.50
1998 15,053 10,160,139 6,862,734 721,623 6,141,111 60.44% 407.97
1999 15,760 10,314,573 6,904,570 666,137 6,238,433 60.48% 395.84
—
2000 16,791 11,595,738 6,911,450 1,271,904 5,639,546 48.63% 335.87
(1) Population estimates provided from Metropolitan Council except for 1990 which reflects the federal census.
(2) Amount excludes tax increment, special assessment, enterprise and EDA bonds.
CITY OF LINO LAKES, MINNESOTA
COMPUTATION OF DIRECT AND OVERLAPPING DEBT
INCLUDING DEBT RATIOS
December 31, 2000
(Unaudited)
Table 9
Bonded G.O. Percentage
Gross Bonded Debt Applicable City Share
Overlapping Debt: Outstanding (1) in City(2) of Debt
Anoka County $ 78,265,000 5.71% $ 4,468,932
School District 12 64,695,000 45.92% 29,707,944
School District 624 43,880,000 2.73% 1,197,924
School District 831 58,115,000 6.85% 3,980,878
SISD 916 20,060,000 2.75% 551,650
Metropolitan Council 114,310,645 0.58% 663,002
Total Overlapping Debt 379,325,645 40,570,330
Direct Debt:
City of Lino Lakes 6,911,450 100.00% 6,911,450
Total Overlapping & Direct Debt $ 386,237,095 $ 47,481,780
Debt Ratios:
Ratio of Debt per capita (16,791 population) - overlapping $2,416
Ratio of Debt per capita (16,791 population) - direct 5412
Ratio of Debt per capita (16,791 population) - total $2,828
Ratio of Debt to estimated market valuation of 5775,398,200 6.12%
(1) Does not include general obligation debt supported by utility revenues, tax or aid anticipation certificates,
State -aid road or revenue debt.
(2) Determined by ratio of net tax capacity (after fiscal disparities and tax increment adjustment)
of property subject to taxation in overlapping unit to valuation of property subject to taxation in City.
- CITY OF LINO LAKES, MINNESOTA
COMPUTATION OF LEGAL DEBT MARGIN
December 31, 2000
- (Unaudited)
Omsk
Table 10
2000 1999
Market Value $ 775,398,200 $ 687,737,400
Debt Limit Percentage 2% 2%
— Debt Limit 15,507,964 13,754,748
Total Bonded Debt 24,416,450 25,499,570
Less:
Special Assessment Bonds (13,165,000) (14,045,000)
Revenue Bonds - Enterprise Fund (4,340,000) (4,550,000)
— Public Project Revenue Bonds (6,285,000) (6,330,000)
Cash in related Debt Service Funds (29,726)
Total Debt Applicable to Debt Limit
$ 626,450 544,844
Legal Debt Margin $ 14,881,514 $ 13,209,904
CITY OF LINO LAKES, MINNESOTA
SCHEDULE OF REVENUE BOND COVERAGE
WATER FUND
Last Nine Years (3)
(Unaudited)
Table 11
Net Revenue
Available Interest
Fiscal Gross Operating for Debt and
Year Revenues (1) Expenses (2) Service Principal Fiscal Charges Total Coverage
1992 $ 232,586 $ 142,923 $ 89,663 $ - $ 57,632 $ 57,632 1.56
1993 332,888 169,431 163,457 75,350 75,350 2.17
1994 394,245 149,764 244,481 25,000 66,080 91,080 2.68
1995 461,747 177,724 284,023 40,000 64,118 104,118 2.73
1996 466,310 210,778 255,532 50,000 170,881 220,881 1.16
1997 851,173 271,575 579,598 50,000 229,900 279,900 2.07
1998 598,005 237,866 360,139 140,000 225,182 365,182 0.99
1999 604,734 380,928 223,806 205,000 220,910 425,910 0.53
2000 1,039,331 495,183 544,148 210,000 237,612 447,612 1.22
(1) Total Water Fund revenues and transfers in.
(2) Total Water Fund expenses exclusive of depreciation, interest on debt and fiscal charges.
(3) Prior to 1992 the City's Water Fund had no debt.
tims
CITY OF LINO LAKES, MINNESOTA
PRINCIPAL TAXPAYERS
(Unaudited)
Table 12
Ten of the City's Largest Taxpayers Percent of
2000 Net Tax City's Net
Taxpayer Type of Business Capacity Tax Capacity
Northern States Power Utility $ 213,973 1.88%
Taylor Corp. Commercial/Industrial 157,535 1.38%
Gargaro, Nicholas & Deborah Commercial/Industrial 117,167 1.03%
Molin Concrete Products Commercial/Industrial 101,849 0.89%
F & G, Inc. Commercial/Industrial 92,126 0.81%
Northern Development LLC Commercial/Industrial 62,454 0.55%
Anoka Electric Cooperative Utility 59,360 0.52%
Minnegasco, Inc. Utility 58,772 0.51%
Lino Lakes Business Center Commercial/Industrial 55,143 0.48%
DJT Properties LLC Commercial /Industrial 50,921 0.45%
Total Ten Largest Taxpayers $ 969,300 8.50%
Source: Anoka County Department of Property Records and Taxation.
CITY OF LINO LAKES, MINNESOTA
PROPERTY VALUE, CONSTRUCTION PERMITS AND BANK DEPOSITS
Last Ten Years
(Unaudited)
Table 13
Fiscal Property Number of Permit Bank
Year Value (1) Building Permits Valuation Deposits (2)
1991 $ 264,013,200 396 $ 34,041,557 Not Available
1992 290,466,200 615 36,636,546 Not Available
1993 320,714,400 628 44,537,437 Not Available
1994 368,367,100 566 26,713,028 Not Available
1995 435,100,000 598 40,636,691 Not Available
1996 501,825,800 588 74,061,188 Not Available
1997 552,696,200 597 32,666,843 Not Available
1998 627,423,800 911 48,683,257 Not Available
1999 687,737,400 893 54,522.159 Not Available
2000 775,398,500 1,672 57,080..794 Not Available
(1) Assessor's estimated market value of taxable property from Table 6.
(2) Bank deposits are excluded due to the banks within the City being consolidated with banks outside the City.
As a result, local deposits are unavailable.
Source: City Inspection records.
CITY OF LINO LAKES, MINNESOTA
DEMOGRAPHIC STATISTICS
Last Ten Years
(Unaudited)
Table 14
Fiscal School Number of Unemployment
Year Population (2) Enrollment (1) Households (2) Rate (3)
1991 9,273 4,638 2,777 4.9%
— 1992 10,056 4,931 2,974 4.8%
1993 11,193 5,219 3,313 4.8%
—
1994 12,266 5,587 3,671 3.6%
1995 13,097 5,932 3,899 3.1%
1996 13,756 6,010 4,095 2.6%
_ 1997 14,560 6,230 4,280 2.5%
1998 15,053 6,469 4,443 1.9%
1999 15,760 6,732 4,692 2.5%
2000 16,791 6,778 5,018 2.6%
(1) Centennial School District 12
(2) Metropolitan Council except 2000 is Federal Census
(3) Minnesota Department of Economic Security
CITY OF LINO LAKES, MINNESOTA
MISCELLANEOUS STATISTICS
(Unaudited)
Table 15
Date of Incorporation
Date of Adoption of City Charter
Form of Government
Area of City (square miles)
Miles of Streets:
Trunk Highways
Paved - County
Paved - City
Number of Street Lights
Fire Protection:
Centennial Fire District
Total Number of Stations
(within Lino Lakes)
Total Number of Volunteers
Police Protection:
Number of Stations
Number of sworn officers
Recreation:
Park Acreage
Number of Parks & Playgrounds
Trails
5/11/55
1/12/82
Charter
33
17.4
28.5
97.65
397
3
1
52
1
21
166
21
14 miles
Municipal Water:
Gallons Pumped 372,613,000
Number of Connections 2,922
Miles of watermain 39.98
Number of Fire Hydrants 526
Water Tower Capacity (gallons) 2 million
Municipal Sewer:
Number of Connections
Miles of sewermain
Employees:
Full -time
Part-time
3,104
49.78
62
5
Elections:
Registered voters - last general election 10,125
Number of votes cast 8,073
Percent of registered voters voting 79%
98