Agenda Packets - 2024/05/13 - Laserfiche WebLink

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NOTE 1— SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) Joint Powers Organizations Metro-INET — The City has joined with several municipalities and governmental entities to cooperatively provide information technology services to its members. Metro-INET is governed by its own Board of Directors. Directors are appointed by each member. An Executive Board is elected by the Board of Directors and is responsible for operations through the Executive Director. The city of Roseville is acting as the fiscal agent for the organization. Members may withdraw but will forfeit any equity in the equipment. If the entity is dissolved, the remaining assets will be allocated to any remaining members. The annual budget is adopted in May and member charges are based on each member's individual metrics for users, email accounts, computers, phones, and remote access accounts. The City's share of operating and capital costs were $204,903 during 2023. These costs were recorded as expenditures in the General Fund and the Community Center Special Revenue Fund. Metro-INET financial reports are available at Roseville city offices, 2660 Corporate Center Drive, Roseville, Minnesota 55113. Spring Lake Park — Blaine — Mounds View Fire Department — The City has joined with the cities of Blaine and Spring Lake Park to cooperatively provide fire protection services to their residents. This is provided by the Spring Lake Park — Blaine — Mounds View Fire Department (the Fire Department), a private nonprofit Internal Revenue Code (IRC) Section 501c (3) organization. The service territory is generally comprised of the cities of Spring Lake Park, Blaine, and Mounds View. The three cities agreed upon several significant provisions in their agreement dated December 11, 1990: a. The Fire Department is governed by its own Board of Directors. Directors are appointed by each city and from the Fire Department. b. Operation, maintenance, and debt service costs are shared based upon a fixed formula. The City's share of the formula is 15.50 percent in 2023. The share was set at a fixed amount in 2021 going forward and to be reviewed every five years. c. The city of Blaine issued $4,900,000 G.O. Capital Improvement Refunding Bonds, Series 2013A on December 1, 2013 to refund the G.O. Capital Improvement Bonds, Series 2005A. They also issued $1,070,000 of G.O. Equipment Certificates of Indebtedness, Series 2018A on June 28, 2018 to purchase a ladder truck and related equipment, which were retired in 2023. d. Each city has a nonmeasureable equity interest in the property that is held in the city of Blaine's name. The City's share of operating costs were $484,779, capital costs were $84,630, and debt service costs were $121,799 during 2023. These costs were recorded as expenditures in the General Fund. The Fire Department and its relief association issue financial reports, which are available at Mounds View city offices or at the Fire Department, 1710 Highway 10, Spring Lake Park, MN 55432. -34-