Laserfiche WebLink
CITY OF ST. ANTHONY, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 2019 <br /> <br /> <br /> <br /> <br />Depreciation/amortization expense was charged to functions/programs of the primary government as follows: <br /> <br />Governmental activities: <br />General government $125,639 <br />Public safety 204,195 <br />Public works, including depreciation of general infrastructure assets 1,759,473 <br />Parks and recreation 59,522 <br /> Total depreciation/amortization expense - governmental activities 2,148,829 <br />Business-type activities: <br />Liquor 71,110 <br />Water/Water Plant 505,366 <br />Sewer 107,969 <br />Stormwater 263,164 <br /> Total depreciation/amortization expense - business-type activities 947,609 <br /> Total depreciation expense $3,096,438 <br /> <br /> <br />CONSTRUCTION COMMITMENTS <br /> <br />At December 31, 2019, the City had commitments of approximately $182,000 for uncompleted <br />construction contracts. <br /> <br /> <br />Note 6 LONG-TERM DEBT <br /> <br />The City issues general obligation bonds to finance its street improvement program, tax increment projects and <br />other City purposes. General obligation bonds are direct obligations of the City and are supported by the full <br />faith and credit of the City. The City has several types of general obligation bonds outstanding at December 31, <br />2019. Following is a brief description of the different bond types: <br /> <br /> Improvement bonds are issued to finance street improvement projects. These bonds are payable <br />primarily from special assessments levied on benefited properties. The costs of these projects are <br />shared by the City; general property taxes levied provide the revenues for these costs. <br /> Tax increment bonds were used to finance redevelopment projects and are payable primarily from <br />incremental property taxes derived from the tax increment districts with any deficiency to be provided <br />from general property taxes. <br /> Tax abatement bonds were issued to finance a portion of park, sidewalk, and traffic signal <br />improvements, and are payable from a special general property tax levy. <br /> Certificates of indebtedness issued to finance various equipment acquisitions are payable from a <br />special general property tax levy. <br /> Revenue bonds are issued to finance business-type activities. These bonds are Utility Revenue Bonds. <br />The liability for these bonds is recorded in the Proprietary Funds. <br /> <br />59