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<br />
<br />City of St. Anthony, Minnesota’s Capital Assets
<br />
<br />Governmental Activities Business-Type Activities Totals
<br />2021 2020 2021 2020 2021 2020
<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 10,321,564 10,258,074 8,482,703 8,482,703 18,804,267 18,740,777
<br />Furniture and fixtures 4,731,993 4,798,664 5,396,420 4,860,982 10,128,413 9,659,646
<br />Software intangibles 56,823 56,823 62,894 26,022 119,717 82,845
<br />Infrastructure/streets 43,240,017 41,336,141 18,006,505 17,043,752 61,246,522 58,379,893
<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 (30,373,380) (28,449,148) (12,328,253) (11,495,579) (42,701,633) (39,944,727)
<br />Construction in progress 3,125,075 3,132,590 11,297 15,498 3,136,372 3,148,088
<br />Total $33,854,615 $33,885,667 $25,013,354 $24,315,166 $58,867,969 $58,126,849
<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 $27,925,000. Of this amount, $20,990,000 comprises debt backed by special
<br />assessments and the full faith and credit of the City, $5,345,000 is backed by tax increments,
<br />$1,150,000 is backed by lease revenue sources, and $440,000 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 $811,706, net pension liability of $3,249,904, and OPEB liability of
<br />$692,246.
<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 />2021 2020 2021 2020 2021 2020
<br />General obligation bonds $20,990,000 $21,255,000 $ - $ - $20,990,000 $21,255,000
<br />G.O. revenue bonds 1,150,000 1,505,000 440,000 580,000 1,590,000 2,085,000
<br />G.O. tax increment bonds 5,345,000 5,795,000 - - 5,345,000 5,795,000
<br />Issuance premiums (discounts) 929,779 934,554 9,392 13,900 939,171 948,454
<br /> -
<br />Total $28,414,779 $29,489,554 $449,392 $593,900 28,864,171 $30,083,454
<br />The City’s total bonded debt decreased by $1,070,000 during the current fiscal year. The key
<br />factors in this decrease were: 1) principal retirement of $4,040,000 and 2) the issuance of
<br />$2,970,000 of 2021A 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 $32,282,829, 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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