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CITY OF ST. ANTHONY, MINNESOTA NOTES TO FINANCIAL STATEMENTS December 31, 2015 Interfund payables and receivables are representative of lending/borrowing arrangements to cover deficit cash balances at the end of the fiscal year. Fund Receivable Payable Purpose Major funds: Water/Sewer/Water Plant $1,009,906 $ - HRA TIF Improvements - 959,326 Provide financing for pay off of Fannie Mae loan Nonmajor funds: Revolving Improvement Fund - 50,580 Provide financing for Arbors Alley Project - Total $1,009,906 $1,009,906 Interfund transfers: Business-type Major Fund Street Street Nonmajor Internal General Improvement HRA TIF Improvement Governmental Service Stormwater Fund Debt Service Debt Service Project Fund Fund Utility Total Governmental activities: General Fund $ - $ - $ - $ - $282,243 $86,300 $ - $368,543 HRA TIF Improvements - - 587,200 - - - - 587,200 Street Improvemet Project - 191,319 - - - - - 191,319 Nonmajor 77,211 37,663 - 100,000 359,010 - 179,701 753,585 Business-type activities: Liquor 67,849 - - - 181,200 - - 249,049 Water/Sewer/Water Plant 50,000 - - - 135,564 - - 185,564 Total transfers $195,060 $228,982 $587,200 $100,000 $958,017 $86,300 $179,701 $2,335,260 Transfer In Transfer out Governmental Activities Major Funds All of the 2015 transfers are considered routine and consistent with previous practices. Note 11 DEFICIT FUND BALANCES/NET POSITION The City has deficit fund balances/net position at December 31, 2015 as follows: Fund Amount Major funds: Street Improvement Fund $272,435 Nonmajor funds: Internal Service Fund 5,240,561 These deficits will be eliminated in certain situations by bond proceeds. The Internal Service Fund includes the state retirement plans and the retirement of pension deficits are dependent upon variables, including contribution rates, investment earnings, and actuarial assumptions. 81