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City of St. Anthony, Minnesota's Outstanding Debt
<br />General Obligation and Revenue Bonds
<br />Governmental Activities Business -Type Activities Totals
<br />2013 2012 2013 2012 2013 2012
<br />General obligation bonds
<br />$24,280,000
<br />$26,390,000
<br />$ -
<br />$ - $24,280,000
<br />$26,390,000
<br />G.O. revenue bonds
<br />295,000
<br />430,000
<br />1,440,000
<br />1,545,000 1,735,000
<br />1,975,000
<br />Revenue bonds
<br />8,545,000
<br />8,770,000
<br />-
<br />- 8,545,000
<br />8,770,000
<br />Issuance premiums (discounts)
<br />375,799
<br />391,471
<br />45,456
<br />- 421,255
<br />391,471
<br />Compensated absences
<br />650,208
<br />649,849
<br />143,548
<br />133,308 793,756
<br />783,157
<br />Total
<br />$34,146,007
<br />$36.631,320
<br />$1,629,004
<br />$1,678,308 $35,775,011
<br />$38,309,628
<br />The City of St. Anthony's total bonded debt decreased $2,575,000 (6.9%) during the current
<br />fiscal year. The key factors in this increase were; 1) payoff of 2006A G.O. Improvement bonds
<br />totaling $2,120,000; 2) principal retirement of $2,125,000; 3) issuance of the 2013A $1,775,000
<br />G.O. Improvement bonds; 4) the payoff and refunding of Water Sewer Revenue bonds for a net
<br />reduction in debt of $105,000.
<br />The City of St. Anthony, Minnesota maintains an "AA" rating from Standard and Poor's for
<br />general obligation debt. State statutes limit the amount of general obligation debt the City may
<br />issue to 3% of its total market value. The current debt limitation for the City of St. Anthony,
<br />Minnesota is $20,237210, which is in excess of the City of St. Anthony, Minnesota's
<br />$10,700,000 outstanding general obligation debt, excluding tax increment, special assessment,
<br />and HRA bonds. Additional information on the City of St. Anthony, Minnesota's long-term debt
<br />can be found in Note 6.
<br />Economic Factors and Next Year's Budgets and Rates
<br />• Healthy financial profile with a stable outlook including a very strong general fund balance.
<br />• Strong income and wealth indicators relative to national levels.
<br />• The stable outlook reflects expectations that St. Anthony will continue to maintain balanced
<br />operations.
<br />• Good management practices, including extensive financial planning to maintain acceptable
<br />service levels while being sensitive to increases in property taxes remains the most
<br />significant challenge.
<br />These factors were considered in preparing the City of St. Anthony, Minnesota's budget for the
<br />2014 fiscal year.
<br />Requests for Information
<br />This financial report is designed to provide a general overview of the City of St. Anthony,
<br />Minnesota's finances for all those with an interest in the government's finances. Questions
<br />concerning any of the information provided in this report or requests for additional financial
<br />information should be addressed to the Office of the Finance Director, City of St. Anthony,
<br />Minnesota, 3301 Silver Lake Road, St. Anthony, Minnesota, 55418.
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