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<br />
<br />City of St. Anthony, Minnesota’s Capital Assets
<br />
<br />Governmental Activities Business-Type Activities Totals
<br />2019 2018 2019 2018 2019 2018
<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 - - 73,984 -
<br />Land improvements 587,187 587,187 1,038,687 1,038,687 1,625,874 1,625,874
<br />Buildings and structures 10,133,864 10,105,047 8,467,897 8,467,897 18,601,761 18,572,944
<br />Furniture and fixtures 4,576,847 4,761,555 4,853,924 4,841,674 9,430,771 9,603,229
<br />Software intangibles 23,303 23,303 26,022 26,022 49,325 49,325
<br />Infrastructure/streets 41,336,141 39,489,582 17,043,752 14,896,823 58,379,893 54,386,405
<br />Storm sewers 428,469 428,469 - - 428,469 428,469
<br />Storm water - - 2,253,147 2,253,147 2,25 3,147 2,253,147
<br />Less accumulated depreciation (26,400,210) (24,526,759) (10,514,273) (9,566,664) (36,914,483) (34,093,423)
<br />Construction in progress 740,266 2,766,747 - - 740,266 2,766,747
<br />Total $33,162,734 $35,371,998 $25,259,110 $24,047,540 $58,421,844 $59,345,554
<br />Additional information on the City’s capital assets can be found in Note 5.
<br />
<br />Long-term debt. At the end of the current fiscal year, the City had total bonded debt
<br />outstanding of $29,170,000. Of this amount, $20,365,000 comprises debt backed by special
<br />assessments and the full faith and credit of the City, $6,240,000 is backed by tax increments,
<br />$1,850,000 is backed by lease revenue sources, and $715,000 is backed by revenues sources
<br />from the City’s water/sewer funds. In addition, the City’s debt represents the liability for
<br />compensated absences $901,184, net pension liability of $4,446,367, and OPEB liability of
<br />$846,113.
<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 />2019 2018 2019 2018 2019 2018
<br />General obligation bonds $20,365,000 $22,040,000 $ - $ - $20,365,000 $22,040,000
<br />G.O. revenue bonds 1,850,000 2,185,000 715,000 845,000 2,565,000 3,030,000
<br />G.O. tax increment bonds 6,240,000 6,660,000 - - 6,240,000 6,660,000
<br />Issuance premiums (discounts) 894,108 794,649 18,408 22,916 912,516 817,565
<br />Total $29,349,108 $31,679,649 $733,408 $867,916 30,082,516 $32,547,565
<br />The City’s total bonded debt decreased by $2,560,000 (8%) during the current fiscal year. The
<br />key factors in this decrease were: 1) principal retirement of $5,040,000 and 2) the issuance of
<br />$2,480,000 of 2019A General Obligation Bonds.
<br />
<br />The City maintains an “AA” rating from Standard and Poor’s for general obligation debt. State
<br />statutes limit the amount of general obligation debt the City may issue to 3% of its total market
<br />value. The current debt limitation for the City is $30,710,616, which is in excess of the City’s
<br />applicable debt. Additional information on the City’s long-term debt can be found in Note 6.
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