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<br />
<br />City of St. Anthony, Minnesota’s Capital Assets
<br />
<br />Governmental Activities Business-Type Activities Totals
<br />2016 2015 2016 2015 2016 2015
<br />Land $1,662,883 $1,662,883 $2,089,954 $2,089,954 $3,752,837 $3,752,837
<br />Land improvement 555,181 555,181 - - 555,181 555,181
<br />Buildings and structures 10,002,287 9,966,796 4,118,781 3,883,283 14,121,068 13,850,079
<br />Furniture and fixtures 4,156,947 3,994,838 1,563,898 1,726,693 5,720,845 5,721,531
<br />Software intangibles 6,823 6,823 26,022 26,022 32,845 32,845
<br />Infrastructure/streets 35,167,341 33,806,042 13,000,946 10,261,912 48,168,287 44,067,954
<br />Storm sewers 428,469 428,469 - - 428,469 428,469
<br />Storm water - - 2,253,147 2,253,147 2,253,147 2,253,147
<br />Less accumulated depreciation (20,798,119) (18,924,558) (8,073,528) (7,574,877) (28,871,647) (26,499,435)
<br />Construction in progress 4,274,263 3,166,374 238,919 728,464 4,513,182 3,894,838
<br />Total $35,456,075 $34,662,848 $15,218,139 $13,394,598 $50,674,214 $48,057,446
<br />Additional information on the City of St. Anthony, Minnesota’s capital assets can be found in
<br />Note 5.
<br />
<br />Long-term debt. At the end of the current fiscal year, the City of St. Anthony, Minnesota had
<br />total bonded debt outstanding of $32,775,000. Of this amount, $24,225,000 comprises debt
<br />backed by special assessments and the full faith and credit of the City, $7,450,000 is backed by
<br />tax increments and $1,100,000 is backed by revenues sources from the City of St. Anthony,
<br />Minnesota’s water/sewer funds. In addition, the City of St. Anthony, Minnesota’s debt
<br />represents the liability for compensated absences $813,439, net pension liability of $14,584,653,
<br />and OPEB liability of $664,590.
<br />
<br />City of St. Anthony, Minnesota’s Outstanding Debt
<br />General Obligation and Revenue Bonds
<br />
<br />Governmental Activities Business-Type Activities Totals
<br />2016 2015 2016 2015 2016 2015
<br />General obligation bonds $24,225,000 $23,530,000 $ - $ - $24,225,000 $23,530,000
<br />G.O. revenue bonds - - 1,100,000 1,215,000 1,100,000 1,215,000
<br />G.O. tax increment bonds 7,450,000 7,865,000 - - 7,450,000 7,865,000
<br />Issuance premiums (discounts) 620,404 618,259 31,932 36,440 652,336 654,699
<br />Total $32,295,404 $32,013,259 $1,131,932 $1,251,440 $33,427,336 $33,264,699
<br />The City of St. Anthony’s total bonded debt increased $165,000 (.51%) during the current fiscal
<br />year. The key factors in this increase were: 1) principal retirement of $2,735,000; 2) issuance of
<br />the 2016A $1,455,000 G.O. Improvement bonds and 2016B $1,445,000 G.O. Tax Abatement
<br />bonds.
<br />
<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 $24,651,217, which is in excess of the City of St. Anthony, Minnesota’s
<br />$3,995,000 outstanding general obligation debt, excluding tax increment and special assessment
<br />bonds. Additional information on the City of St. Anthony, Minnesota’s long-term debt can be
<br />found in Note 6.
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