|
Major capital asset events during the current fiscal year included the following:
<br />• The annual street reconstruction and infrastructure improvement project is reflected in the
<br />Construction in progress along with Salo Pond Stormwater treatment system, Fiber Lan
<br />utility improvements and Southeast Regional Stormwater treatment system.
<br />City of St. Anthony, Minnesota's Capital Assets
<br />Governmental Activities Business -Type Activities Totals
<br />2014 2013 2014 2013 2014 2013
<br />Land
<br />$3,747,184
<br />$3,747,184
<br />$5,653
<br />$5,653
<br />$3,752,837
<br />$3,752,837
<br />Land improvement
<br />555,181
<br />505,717
<br />-
<br />-
<br />555,181
<br />$505,717
<br />Buildings and structures
<br />9,836,936
<br />9,836,936
<br />3,883,283
<br />3,883,283
<br />13,720,219
<br />$13,720,219
<br />Furniture and fixtures
<br />3,899,084
<br />3,645,444
<br />1,455,295
<br />1,441,075
<br />5,354,379
<br />$5,086,519
<br />Software intangibles
<br />6,823
<br />-
<br />26,022
<br />26,022
<br />32,845
<br />$26,022
<br />Infrastructure/streets
<br />32,438,813
<br />31,441,542
<br />8,636,295
<br />8,145,639
<br />41,075,108
<br />$39,587,181
<br />Storm sewers
<br />428,469
<br />428,469
<br />-
<br />-
<br />428,469
<br />$428,469
<br />Storm water
<br />2,253,147
<br />2,063,842
<br />-
<br />-
<br />2,253,147
<br />$2,063,842
<br />Less accumulated depreciation
<br />(17,406,583)
<br />(15,510,352)
<br />(6,771,562)
<br />(6,410,371)
<br />(24,178,145)
<br />($21,920,723)
<br />Construction in progress
<br />3,079,369
<br />1,716,674
<br />172,154
<br />3,251,523
<br />$1,716,674
<br />Total $38,838,423 $37,875,456 $7,407,140 $7,091,301 $46,245,563 $44,966,757
<br />Additional information on the City of St. Anthony, Minnesota's capital assets can be found in
<br />Note 5.
<br />Long-term debt. At the end of the current fiscal year, the City of St. Anthony, Minnesota had
<br />total debt outstanding of $33,705,000. Of this amount, $24,455,000 comprises debt backed by
<br />the full faith and credit of the City, $7,920,000 is backed by tax increments and $1,330,000 is
<br />backed by revenues sources from the City of St. Anthony, Minnesota's enterprise funds. The
<br />remainder of the City of St. Anthony, Minnesota's debt represents the liability for compensated
<br />absences.
<br />City of St. Anthony, Minnesota's Outstanding Debt
<br />General Obligation and Revenue Bonds
<br />Governmental Activities Business -Type Activities Totals
<br />2014 2013 2014 2013 2014 2013
<br />General obligation bonds
<br />$24,305,000
<br />$24,280,000
<br />$ - $ - $24,305,000
<br />$24,280,000
<br />G.O. revenue bonds
<br />150,000
<br />295,000
<br />1,330,000 1,440,000 1,480,000
<br />1,735,000
<br />Revenue bonds
<br />7,920,000
<br />8,545,000
<br />- - 7,920,000
<br />8,545,000
<br />Issuance premiums (discounts)
<br />482,350
<br />375,799
<br />40,948 45,456 523,298
<br />421,255
<br />Compensated absences
<br />661,966
<br />650,208
<br />153,726 143,548 815,692
<br />793,756
<br />Total $33,519,316 $34,146,007 $1,524,674 $1,629,004 $35,043,990 $35,775,011
<br />The City of St. Anthony's total bonded debt decreased $855,000 (2.5%) during the current fiscal
<br />year. The key factors in this decrease were; 1) payoff of 2007A G.O. Improvement bonds
<br />totaling $1,500,000; 2) principal retirement of $2,230,000; 3) issuance of the 2014A $2,070,000
<br />G.O. Improvement bonds; 4) issuance of the 2014C $1,305,000 G.O. Refunding bonds; 5) the
<br />payoff and refunding of 2007 Tax Increment revenue bonds with Tax Increment 2014B G.O. Tax
<br />Increment bonds for a net reduction in debt of $500,000.
<br />24
<br />
|