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<br />
<br />City of St. Anthony, Minnesota’s Capital Assets
<br />
<br />Governmental Activities Business-Type Activities Totals
<br />2022 2021 2022 2021 2022 2021
<br />Land $1,062,882 $1,662,883 $2,089,954 $2,089,954 $3,152,836 $3,752,837
<br />Permanent easements 131,678 73,984 - - 131,678 -
<br />Land improvements 584,800 587,187 1,062,122 1,038,687 1,646,922 1,625,874
<br />Buildings and structures 10,571,734 10,321,564 8,985,359 8,482,703 19,557,093 18,804,267
<br />Furniture and fixtures 4,928,320 4,731,993 5,459,355 5,396,420 10,387,675 10,128,413
<br />Software intangibles 56,823 56,823 62,894 62,894 119,717 119,717
<br />Infrastructure/streets 43,420,366 43,240,017 18,539,550 18,006,505 61,959,916 61,246,522
<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 (33,481,813) (30,373,380) (13,370,621) (12,328,253) (46,852,434) (42,701,633)
<br />Construction in progress 4,732,427 3,125,075 - 11,297 4,732,427 3,136,372
<br />Total $32,435,686 $33,854,615 $25,081,760 $25,013,354 $57,517,446 $58,793,985
<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 $27,000,000. Of this amount, $21,050,000 comprises debt backed by special
<br />assessments and the full faith and credit of the City, $4,870,000 is backed by tax increments,
<br />$780,000 is backed by lease revenue sources, and $300,000 is backed by revenues sources from
<br />the City’s water/sewer funds. In addition, the City’s debt represents the liability for compensated
<br />absences $736,421, net pension liability of $12,862,860, and OPEB liability of $1,007,566.
<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 />2022 2021 2022 2021 2022 2021
<br />General obligation bonds $21,050,000 $20,990,000 $ - $ - $21,050,000 $20,990,000
<br />G.O. revenue bonds 780,000 1,150,000 300,000 440,000 1,080,000 1,590,000
<br />G.O. tax increment bonds 4,870,000 5,345,000 - - 4,870,000 5,345,000
<br />Issuance premiums (discounts)828,269 929,779 4,884 9,392 833,153 939,171
<br /> - -
<br />Total $27,528,269 $28,414,779 $304,884 $449,392 27,833,153 $28,864,171
<br />The City’s total bonded debt decreased by $785,000 during the current fiscal year. The key
<br />factors in this decrease were: 1) principal retirement of $3,170,000 and 2) the issuance of
<br />$2,385,000 of 2022A 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 $38,649,915, 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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