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<br />
<br />City of St. Anthony, Minnesota’s Capital Assets
<br />
<br />Governmental Activities Business-Type Activities Totals
<br />2018 2017 2018 2017 2018 2017
<br />Land $1,662,883 $1,662,883 $2,089,954 $2,089,954 $3,752,837 $3,752,837
<br />Permanent easements 73,984 - - - 73,984 -
<br />Land improvement 587,187 555,181 1,038,687 - 1,625,874 555,181
<br />Buildings and structures 10,105,047 10,105,047 8,467,897 8,372,645 18,572,944 18,477,692
<br />Furniture and fixtures 4,761,555 4,255,778 4,841,674 4,547,552 9,603,229 8,803,330
<br />Software intangibles 23,303 6,823 26,022 26,022 49,325 32,845
<br />Infrastructure/streets 39,489,582 36,041,107 14,896,823 13,763,523 54,386,405 49,804,630
<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 (24,526,759) (22,702,055) (9,566,664) (8,703,724) (34,093,423) (31,405,779)
<br />Construction in progress 2,766,747 4,850,632 - 835,045 2,766,747 5,685,677
<br />Total $35,371,998 $35,203,865 $24,047,540 $23,184,164 $59,419,538 $58,388,029
<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 $31,730,000. Of this amount, $22,040,000 comprises debt
<br />backed by special assessments and the full faith and credit of the City, $6,660,000 is backed by
<br />tax increments, $2,185,000 is backed by lease revenue sources, and $845,000 is backed by
<br />revenues sources from the City of St. Anthony, Minnesota’s water/sewer funds. In addition, the
<br />City of St. Anthony, Minnesota’s debt represents the liability for compensated absences
<br />$846,668, net pension liability of $4,499,785, and OPEB liability of $803,931.
<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 />2018 2017 2018 2017 2018 2017
<br />General obligation bonds $22,040,000 $21,595,000 $ - $ - $22,040,000 $21,595,000
<br />G.O. revenue bonds 2,185,000 2,510,000 845,000 975,000 3,030,000 3,485,000
<br />G.O. tax increment bonds 6,660,000 7,065,000 - - 6,660,000 7,065,000
<br />Issuance premiums (discounts) 794,649 793,291 22,916 27,424 817,565 820,715
<br />Total $31,679,649 $31,963,291 $867,916 $1,002,424 32,547,565 $32,965,715
<br />The City of St. Anthony’s total bonded debt decreased by $415,000 (1.29%) during the current
<br />fiscal year. The key factors in this decrease were: 1) principal retirement of $3,025,000 and 2)
<br />the issuance of $2,610,000 of 2018A G.O. Improvement 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 $27,507,354, which is in excess of the City of St. Anthony, Minnesota’s applicable
<br />debt. Additional information on the City of St. Anthony, Minnesota’s long-term debt can be
<br />found in Note 6.
<br />
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