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CITY OF ST. ANTHONY, MINNESOTA NOTES TO FINANCIAL STATEMENTS December 31, 2018 Interfund transfers: Street Street Nonmajor Internal Water/Sewer/ General Improvement HRA TIF Improvement Governmental Service Liquor Water Plant Fund Debt Service Debt Service Project Fund Fund Fund Fund Total Governmental activities: General Fund $ - $ - $ - $ - $90,185 $86,300 $ - $ - $176,485 HRA TIF Improvements 7,870 - 587,237 - - - - - 595,107 Street Improvement Project Fund - 103,596 - - - - - - 103,596 Public Utilities Infrastructure - - - 198,400 - - - - 198,400 Nonmajor 100,000 168,000 - - 249,065 - - - 517,065 Internal Service Fund - - - - - - 52,738 49,967 102,705 Business-type activities: Liquor 250,000 - - - - - - - 250,000 Stormwater utility - 95,000 - 28,394 - - - - 123,394 Total transfers $357,870 $366,596 $587,237 $226,794 $339,250 $86,300 $52,738 $49,967 $2,066,752 Transfer out Major Funds Transfer In Business-type Activities Major Funds Governmental Activities There was a transfer made in 2018 to close out the 2017 Street Improvement Project Fund. All of the other 2018 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, 2018 as follows: Fund Amount Nonmajor funds: Internal Service Fund $7,929,852 Revolving Improvement Fund 83,177 The Internal Service Fund includes the state retirement plans and OPEB and the retirement of pension and OPEB deficits are dependent upon variables, including contribution rates, investment earnings, and actuarial assumptions. The Revolving Improvement Fund deficit will be eliminated with future MSA Construction aid. Note 12 CONTINGENCIES A. RISK MANAGEMENT The City is exposed to various risks of loss related to torts, theft of, damage to and destruction of assets; errors and omissions; injuries to employees; and natural disasters. Workers compensation coverage is provided through a pooled self-insurance program through the League of Minnesota Cities Insurance Trust (LMCIT). The City pays an annual premium to the LMCIT. The City is subject to supplemental assessments if deemed necessary by the LMCIT. The LMCIT reinsures through Workers Compensation Reinsurance Association (WCRA) as required by law. The City has no deductible and a managed care program to assist employees with their rehabilitation plan. Annual employee hours of service are audited and final premiums are then determined. The amount of premium adjustment, if any, is considered immaterial and not recorded until received or paid. 84