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CITY OF ST. ANTHONY, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 2016
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<br />calculations is not determinable at this time. However, in the opinion of management, any such
<br />liability would be immaterial.
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<br />Note 13 DEFERRED AD VALOREM TAX LEVIES - BONDED DEBT
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<br />General obligation bond issues sold by the City are financed by ad valorem tax levies and improvement bond
<br />issues sold by the City are partially financed by ad valorem tax levies in addition to special assessments levied
<br />against the benefiting properties. When a bond issue to be financed partially or completely by ad valorem tax
<br />levies is sold, specific annual amounts of such tax levies are stated in the bond resolution and the County
<br />Auditor is notified and instructed to levy these taxes over the appropriate years. The future tax levies are
<br />subject to cancellation when and if the City has provided alternative sources of financing. The City Council is
<br />required to levy any additional taxes found necessary for full payment of principal and interest.
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<br />These future scheduled tax levies are not shown as assets in the accompanying financial statements at
<br />December 31, 2016.
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<br />Note 14 FUND BALANCE
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<br />A. CLASSIFICATIONS
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<br />At December 31, 2016, a summary of the governmental fund balance (deficit) classifications are as
<br />follows:
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<br />Street
<br />Improvement Street Public
<br />Debt HRA TIF Improvement HRA TIF Utilities
<br />General Fund Service Debt Service Projects Projects Infrastructure Other Funds Total
<br />Nonspendable:
<br />Prepaid items $112,072 $ - $ - $20,000 $ - $ - $37,188 $169,260
<br />Inventory 3,410 - - - - - - 3,410
<br />Total nonspendable 115,482 0 0 20,000 0 0 37,188 172,670
<br />Restricted for:
<br />Tax increment - - - - 1,947,003 - - 1,947,003
<br />Public safety - - - - - - 25,634 25,634
<br />Redevelopment activities - - - - - - - -
<br />Debt service - 4,017,709 10,496 - - - 906,411 4,934,616
<br />Total restricted 0 4,017,709 10,496 0 1,947,003 0 932,045 6,907,253
<br />Committed to:
<br />Community center operations/maintenance - - - - - - 43,550 43,550
<br />Recycling - - - - - - 18,188 18,188
<br />Revolving loan program - - - - - - 43,765 43,765
<br />Total committed 0 0 0 0 0 0 105,503 105,503
<br />Assigned to:
<br />Community center operations/maintenance - - - - - - 14,971 14,971
<br />Street improvements/rehabilitiation - - - 1,105,760 - - - 1,105,760
<br />Building improvements - - - - - - 176,126 176,126
<br />Public safety - - - - - - 11,494 11,494
<br />Storm water system - - - - - 10,104,981 - 10,104,981
<br />Parks and recreation - - - - - - 164,151 164,151
<br />Other capital improvements - - - - - - 1,570,746 1,570,746
<br />Total assigned 0 0 0 1,105,760 0 10,104,981 1,937,488 13,148,229
<br />Unassigned 2,204,185 - - - (1,640,763) - (52,966) 510,456
<br />Total $2,319,667 $4,017,709 $10,496 $1,125,760 $306,240 $10,104,981 $2,959,258 $20,844,111
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