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CITY OF ST. ANTHONY, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 2016 <br /> <br /> <br /> <br /> <br />Interfund transfers: <br />Street Public Nonmajor Internal <br />General Improvement HRA TIF Utilities Governmental Service <br />Fund Debt Service Debt Service Infrastructure Fund Fund Total <br />Governmental activities: <br />General Fund $ - $ - $ - $ - $81,800 $86,300 $168,100 <br />HRA TIF Improvements - - 574,058 - - - 574,058 <br />Nonmajor 77,210 25,000 - - 115,000 - 217,210 <br />Business-type activities: <br />Liquor 156,396 - - - 92,653 - 249,049 <br />Water/Sewer/Water Plant 200,000 - - 1,905,561 606,275 - 2,711,836 <br />Stormwater utility - 170,000 - - - - 170,000 <br />Total transfers $433,606 $195,000 $574,058 $1,905,561 $895,728 $86,300 $4,090,253 <br />Transfer out <br />Governmental Activities <br />Major Funds <br />Transfer In <br />There were transfers made in 2016 to close out the Water Filtration Fund. All of the other 2016 transfers are <br />considered routine and consistent with previous practices. <br /> <br /> <br />Note 11 DEFICIT FUND BALANCES/NET POSITION <br /> <br />The City has deficit fund balances/net position at December 31, 2016 as follows: <br /> <br />Fund Amount <br />Nonmajor funds: <br />Internal Service Fund $7,036,594 <br />HRA Fund 7,582 <br />HSIP Tax Abatement Fund 450 <br /> <br />These deficits will be eliminated in certain situations by bond proceeds. The Internal Service Fund includes the <br />state retirement plans and the retirement of pension deficits are dependent upon variables, including <br />contribution rates, investment earnings, and actuarial assumptions. <br /> <br /> <br />Note 12 CONTINGENCIES <br /> <br />A. RISK MANAGEMENT <br /> <br /> The City is exposed to various risks of loss related to torts, theft of, damage to and destruction of <br />assets; errors and omissions; injuries to employees; and natural disasters. <br /> <br /> Workers compensation coverage is provided through a pooled self-insurance program through the <br />League of Minnesota Cities Insurance Trust (LMCIT). The City pays an annual premium to the <br />LMCIT. The City is subject to supplemental assessments if deemed necessary by the LMCIT. The <br />LMCIT reinsures through Workers Compensation Reinsurance Association (WCRA) as required by <br />law. The City has no deductible and a managed care program to assist employees with their <br />rehabilitation plan. Annual employee hours of service are audited and final premiums are then <br />determined. The amount of premium adjustment, if any, is considered immaterial and not recorded <br />until received or paid. <br />80