|
<br />
<br />City of St. Anthony, Minnesota’s Capital Assets
<br />
<br />Governmental Activities Business-Type Activities Totals
<br />2023 2022 2023 2022 2023 2022
<br />Land $1,062,883 $1,062,882 $2,089,954 $2,089,954 $3,152,837 $3,152,836
<br />Permanent easements 73,984 73,984 57,695 57,695 131,679 -
<br />Land improvements 638,031 584,800 1,062,122 1,062,122 1,700,153 1,646,922
<br />Buildings and structures 10,736,937 10,571,734 9,011,803 8,985,360 19,748,740 19,557,094
<br />Furniture and fixtures 6,123,009 4,928,320 5,473,649 5,459,355 11,596,658 10,387,675
<br />Software intangibles 72,117 56,823 62,894 62,894 135,011 119,717
<br />Infrastructure/streets 46,564,031 43,420,366 13,985,966 12,981,818 60,549,997 56,402,184
<br />Storm sewers 428,469 428,469 - - 428,469 428,469
<br />Storm water - - 8,182,924 7,810,879 8,182,924 7,810,879
<br />Less accumulated depreciation (34,247,189) (32,435,686) (14,458,613) (13,370,620) (48,705,802) (45,806,306)
<br />Construction in progress 195,943 4,732,427 - - 195,943 4,732,427
<br />Total $31,648,215 $33,424,119 $25,468,394 $25,139,457 $57,116,609 $58,431,897
<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 $23,655,000. Of this amount, $18,730,000 comprises debt backed by special
<br />assessments and the full faith and credit of the City, $4,375,000 is backed by tax increments,
<br />$395,000 is backed by lease revenue sources, and $155,000 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 $714,753, net pension liability of $5,857,913, and OPEB liability of $924,615.
<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 />2023 2022 2023 2022 2023 2022
<br />General obligation bonds $18,730,000 $21,050,000 $ - $ - $18,730,000 $21,050,000
<br />G.O. revenue bonds 395,000 780,000 155,000 300,000 550,000 1,080,000
<br />G.O. tax increment bonds 4,375,000 4,870,000 - - 4,375,000 4,870,000
<br />Issuance premiums (discounts) 709,584 828,269 376 4,884 709,960 833,153
<br /> - -
<br />Total $24,209,584 $27,528,269 $155,376 $304,884 24,364,960 $27,833,153
<br />
<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.
<br />
<br />
<br />27
|