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CITY OF ST. ANTHONY, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 2022
<br />
<br />
<br />
<br />
<br />Year Ending
<br />December 31 Principal Interest
<br />2023 $145,000 $4,550
<br />2024 155,000 1,550
<br />Total $300,000 $6,100
<br />Revenue Bonds
<br />Business-Type Activities
<br />
<br />It is not practicable to determine the specific year for payment of long-term accrued compensated absences.
<br />
<br />CHANGE IN LONG-TERM LIABILITIES
<br />
<br />Long-term liability activity for the year ended December 31, 2022, was as follows:
<br />
<br />Beginning Ending Due Within
<br />Balance Additions Reductions Balance One Year
<br />Governmental activities:
<br />Bonds payable:
<br />G.O. improvement bonds $16,495,000 $2,385,000 ($1,320,000) $17,560,000 $1,525,000
<br />G.O. tax increment refunding bonds 5,345,000 - (475,000) 4,870,000 495,000
<br />G.O. tax abatement bonds 1,995,000 - (255,000) 1,740,000 265,000
<br />G.O. lease revenue refunding bonds 1,150,000 - (370,000) 780,000 385,000
<br />G.O. refunding bonds 1,675,000 - (545,000) 1,130,000 320,000
<br />G.O. street reconstruction bonds 465,000 - (150,000) 315,000 155,000
<br />G.O. equipment certificates 360,000 - (55,000) 305,000 55,000
<br />Total bonds payable 27,485,000 2,385,000 (3,170,000) 26,700,000 3,200,000
<br />Unamortized bond premiums 929,779 15,093 (116,603) 828,269 -
<br />Total bonded indebtedness 28,414,779 2,400,093 (3,286,603) 27,528,269 3,200,000
<br />Compensated absences*635,815 - (23,186) 612,629 202,168
<br />Total governmental activities $29,050,594 $2,400,093 ($3,309,789) $28,140,898 $3,402,168
<br />Business-type activities:
<br />Revenue bonds $440,000 $ - ($140,000) $300,000 $145,000
<br />Unamortized bond premiums 9,392 - (4,508) 4,884 -
<br />Total bonded indebtedness 449,392 - (144,508) 304,884 145,000
<br />Compensated absences*175,891 201 - 176,092 58,111
<br />Total business-type activities $625,283 $201 ($144,508) $480,976 $203,111
<br />*The change in compensated absences is presented as a net change.
<br />
<br />All long-term bonded indebtedness outstanding at December 31, 2022 is backed by the full faith and credit of
<br />the City, including improvement and revenue bond issues. Delinquent assessments receivable at December 31,
<br />2022 totaled $5,163.
<br />
<br />$2,385,000 G.O Road Improvement Bonds
<br />
<br />On May 26, 2022, the City issued $2,385,000 in G.O Road Improvement Bonds, Series 2022A to finance
<br />various public improvements projects within the City. The G.O Bond will have a term of 15 years with an
<br />interest rate between 3.0-3.25% and will be repaid with property taxes and special assessments.
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