HomeMy WebLinkAbout2011 CAFRCity of, Saint Anthony
Saint Anthony, Minnesota
Comprehensive Annual
Financial Report
LOur mission is to be a progressive and livable community,
a walk able village, which is sustainable, safe and secure
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COMPREHENSIVE ANNUAL FINANCIAL REPORT
OF THE
CITY OF ST. ANTHONY, MINNESOTA
FOR THE YEAR ENDED
DECEMBER 31, 2011
Prepared By:
Finance Department
Shelly Rueckert,
Finance Director
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CITY OF ST. ANTHONY, MINNESOTA
TABLE OF CONTENTS
I. INTRODUCTORY SECTION
Page
Reference No.
Letter of Transmittal 3
Organization 7
Organization Chart 8
II. FINANCIAL SECTION
Independent Auditor's Report
11
Management's Discussion and Analysis
13
Basic Financial Statements:
Govemment-Wide Financial Statements:
Statement of Net Assets
Statement 1
27
Statement of Activities
Statement 2
28
Fund Financial Statements:
Balance Sheet - Governmental Funds
Statement 3
30
Statement of Revenues, Expenditures and Changes in Fund Balance -
Governmental Funds
Statement 4
32
Reconciliation of the Statement of Revenues, Expenditures and Changes in
Fund Balances of Governmental Funds
Statement 5
34
Statement of Net Assets - Proprietary Funds
Statement 6
35
Statement of Revenues, Expenses and Changes in Fund Net Assets -
Proprietary Funds
Statement 7
36
Statement of Cash Flows - Proprietary Funds
Statement 8
37
Statement of Fiduciary Net Assets - Fiduciary Fund
Statement 9
38
Notes to Financial Statements
39
Required Supplementary Information:
' Budgetary Comparison Schedule - General Fund
Statement 10
84
Budgetary Comparison Schedule - Note to RSI
89
Schedule of Funding Progess - Other Post Employment Benefits Plan
Statement 11
90
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CITY OF ST. ANTHONY, MINNESOTA
TABLE OF CONTENTS
Supplementary Financial Information:
HRA Debt Service Fund
Balance Sheet
Exhibit 1
Page
Schedule of Revenues, Expenditures and Changes in Fund Balance
Reference
No.
HRA Projects Fund:
Combining and Individual Nonmajor Fund Financial Statements and Schedules:
Balance Sheet
Combining Balance Sheet - Nonmajor Governmental Funds
Statement 12
95
Combining Statement of Revenues, Expenditures and Changes in Fund Balance -
125
Water and Sewer Enterprise Fund:
Nonmajor Governmental Funds
Statement 13
96
Subcombining Balance Sheet - Nonmajor Special Revenue Funds
Statement 14
99
Subcombining Statement of Revenues, Expenditures and Changes in
Fund Balance - Nonmajor Special Revenue Funds
Statement 15
100
Subcombining Balance Sheet - Nonmajor Debt Service Funds
Statement 16
104
Subcombining Statement of Revenues, Expenditures and Changes in
Fund Balance - Nonmajor Debt Service Funds
Statement 17
106
Subcombining Balance Sheet - Nonmajor Capital Project Funds
Statement 18
110
Subcombining Statement of Revenues, Expenditures and Changes in
Fund Balance - Nonmajor Capital Project Funds
Statement 19
112
Special Revenue Funds:
Schedules of Revenues, Expenditures and Changes in
Fund Balance - Budget and Actual:
Community Center Fund
Statement 20
114
Police Forfeiture Fund
Statement 21
115
Recycling Fund
Statement 22
116
HRA Fund
Statement 23
117
Fire Education/Training Fund
Statement 24
118
Statement of Changes in Assets and Liabilities - Agency Fund
Statement 25
119
Supplementary Financial Information:
HRA Debt Service Fund
Balance Sheet
Exhibit 1
122
Schedule of Revenues, Expenditures and Changes in Fund Balance
Exhibit 2
123
HRA Projects Fund:
Balance Sheet
Exhibit 3
124
Schedule of Revenues, Expenditures and Changes in Fund Balance
Exhibit 4
125
Water and Sewer Enterprise Fund:
Schedule of Revenues, Expenses and Changes in Fund Net Assets
Exhibit 5
126
CITY OF ST. ANTHONY, MINNESOTA
TABLE OF CONTENTS
III. STATISTICAL SECTION (Unaudited)
Financial Trends
Page
Reference No.
Net Assets by Component
Table 1
128
Changes in Net Assets
Table 2
129
Fund Balances - Governmental Funds
Table 3
131
Changes in Fund Balances - Governmental Funds
Table 4
132
Revenue Capacity
Tax Capacity Value and Estimated Market Value of Taxable Property Table 5 134
Direct and Overlapping Property Tax Rates Table 6 135
Principal Property Taxpayers Table 7 136
Property Tax Levies and Collections Table 8 137
Debt Capacity
Ratios of Outstanding Debt by Type
Table 9
138
Direct and Overlapping Governmental Activities Debt
Table 10
140
Legal Debt Margin Information
Table 11
141
Pledged Revenue Coverage
Table 12
142
Demographic and Economic:
Demographic and Economic Statistics
Table 13
146
Principal Employers
Table 14
147
Operating Information:
Full -Time Equivalent City Government Employees by Function/Program
Table 15
148
Operating Indicators by Function/Program
Table 16
150
Capital Asset Statistics by Function/Program
Table 17
152
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I. INTRODUCTORY SECTION
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i611arC�
June 18, 2012
To the Honorable Mayor, Members of the City Council, and Citizens of the City of St.
Anthony, Minnesota:
State law requires that all general-purpose local governments publish within six months
of the close of each fiscal year a complete set of audited financial statements. This report
is published to fulfill that requirement for the fiscal year ended December 31, 2011.
Management assumes full responsibility for the completeness and reliability of the
information contained in this report, based upon a comprehensive framework of internal
controls that have been established for this purpose. Because the cost of internal controls
should not exceed anticipated benefits, the objective is to provide reasonable, rather than
absolute, assurance that the financial statements are free of any material misstatements.
HLB Tautges, Redpath, Ltd., Certified Public Accountants, have issued an unqualified
opinion on the City of St. Anthony's financial statements for the year ended December
31, 2011. The independent auditor's report is located at the front of the financial section
of this report.
Management's discussion and analysis (MD&A) immediately follows the independent
auditor's report and provides a narrative introduction, overview, and analysis of the basic
financial statements. MD&A complement this letter of transmittal and should be read in
conjunction with it.
Profile of the City
The City of St. Anthony, incorporated in 1945, is located near Northeast Minneapolis and
is a first ring northern suburb of the Minneapolis -St. Paul metropolitan area. The City is
a completely developed community and is bordered on all sides by the communities of
Minneapolis, Columbia Heights, New Brighton and Roseville. Approximately two-thirds
of the City is located in northeastern Hennepin County and one-third is located in the
northwest corner of Ramsey County. The City encompasses a land area of 2.35 square
miles and serves a population of 8,226.
The City is located 10 minutes north of downtown Minneapolis and 15 minutes northwest
of downtown St. Paul. City residents and businesses have easy access to all parts of the
Minneapolis -St. Paul metropolitan area by the use of Interstate 35W, Interstate 694 and
Highway 280.
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3301 Silver Lake Road, St. Anthony, MN 55418-16999www.ci.saint-anthony.mn.us• (612) 782-3301• (612) 782-3302
Our mission is to be a progressive and livable community, a walkable village, which is sustainable, safe and secure.
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The City is served by Independent School District (ISD) #282 (St. Anthony), which has a
2011/2012 enrollment of approximately 1,769, operates one elementary school, a middle
school and senior high in the City. In addition, a private school, St. Charles Borromeo,
offers K-8 grade education with enrollment of approximately 305 students.
The City operates as a statutory Council -Manager form of government. Policy-making
and legislative authority are vested in the City Council consisting of one elected mayor
and four council members. The City Council is responsible, among other things, for
passing ordinances, adopting the budget, appointing committees, and hiring the City
Manager. The City Manager is responsible for carrying out the policies and ordinances
of the City Council, overseeing the day-to-day operations of the City, and appointing the
heads of the various departments. The Council is elected on a non-partisan basis.
Council members serve four-year staggered terms, with two council members elected
every two years. The Mayor is elected to serve a four-year term.
The City of St. Anthony provides a full range of services including administrative
services; police protection; fire suppression and prevention; construction of capital
improvements; reconstruction and maintenance of city streets and other infrastructure;
distribution of water; sanitary sewer collection; storm water drainage; parks and
recreational activities; forestry maintenance; and recycling.
The St. Anthony Firefighters' Relief Association is a separate legal entity, and
accordingly is excluded from this report. The St. Anthony Housing and Redevelopment
Authority (HRA), an entity legally separate from the City, is governed by a board which
includes the City Council. Its sole purpose is to promote economic development within
the City of St. Anthony. The HRA is a component unit of the City and its financial
transactions have been included in these financial statements as a blended component
unit. Additional information on both of these legally separate entities can be found in
Note 1(A) & 6(D) in the notes to the financial statements.
The annual budget serves as the foundation for the City of St. Anthony's financial
planning and control. All departments of the City of St. Anthony submit requests for
appropriations to the City Manager in June of each year. The City Manager uses these
requests as the starting point for developing the recommended budget. The City Manager
then presents the recommended budget to the City Council for their review prior to the
certification of the proposed levy to the County Auditors by September 15th. The City
Council is required to hold public hearings on the proposed budget and to adopt a final
budget by December 31, the close of the City of St. Anthony's fiscal year.
The appropriated budget is prepared for the General Fund by function (e.g., public
safety), and department (e.g., police), and object code (e.g., salaries). Department heads
may make transfers of appropriations within a department. Transfers of appropriations
between departments, however, require the approval of the City Council. Budget -to -
actual comparisons are provided on Statement 10 as required supplementary information
to the basic financial statements for the governmental funds.
Factors Affecting Financial Condition
The information presented in the financial statements is perhaps best understood when it
is considered from the broader perspective of the specific environment within which the
City of St. Anthony operates.
Local Economy: The Minneapolis -St. Paul metropolitan area has continued to
experience a relatively stable economy. The market place for local products and services
remains strong. St. Anthony is a fully developed City. However, continued long-term
growth is anticipated as St. Anthony continues to pursue redevelopment opportunities.
Long -Term Financial Planning: The City maintains internal service funds for the
replacement of various capital assets. The Capital Equipment Fund provides funding for
the replacement of the City's fleet including all vehicles and heavy equipment that have a
value of $5,000 or more and a useful life of at least two years. The Road Improvement
Funds have been established for the replacement of the City's roads and infrastructure,
including the resurfacing and reconstruction of City's streets, sidewalks and storm water
system.
The City combines the use of Goal Setting and Key Financial Management Planning to
identify and prioritize all City improvement projects. On an on-going basis, projects are
identified, discussed and prioritized by the City Council. Once the project is identified, a
complete analysis is done to review the impact, examine the funding sources available to
determine the appropriate funding source and budget for the costs.
Cash Management Policies and Practices: The City's foremost investment objective is
to preserve capital. Secondary considerations are liquidity and lastly yield. Accordingly,
deposits are either insured by federal depository insurance or collateralized. All
temporary cash surpluses during the year are invested in various securities defined by
Minnesota Statutes. The City's policy is to invest all available monies at competitive
interest rates in accordance with the City's over-all fiscal plan and coordinate them with
operating needs and programs projected over the ensuing 12 months.
Risk Management: The City uses a proactive approach to limit its liability risk and
insurance costs. To assist employees who are injured while on duty, Managed Care
Program is used to reduce medical expenses and other costs relating to workplace
injuries. The program assists employees with a treatment plan which reduces lost
workdays, replacement workers, etc.
In addition, a safety committee consisting of employees from every department meets
monthly throughout the year to discuss safety related items, review accident reports and
provide recommendations to reduce the City's exposure to liability.
The City's general liability insurance is with the League of Minnesota Cities Insurance
Trust. In order to reduce the cost of insurance, a $10,000 per occurrence/$50,000
aggregate deductible is maintained and funded through insurance dividends paid by the
League of Minnesota Cities.
Awards: The City of St. Anthony received the following awards in 2011:
1) MPCA — GreenStep City, Step 1 and Step 2
Grants: Each year, the City actively participates in Federal, State and County
administered grants. In 2011 the Police, Fire, Public Works and Administration received
a variety of safety and training grants. A list of the grants includes:
A. FEMA- Warning Siren Grant.
B. Metropolitan Council Environmental Services -Sanitary Sewer
Improvements.
C. Mississippi Watershed Management Organization — Parks Department
Equipment.
D. Minnesota Board of Firefighter Training and Education Grant.
E. Minnesota Firefighter Disability Grant.
F. Safe and Sober Grant — Alcohol Compliance Grant.
G. State of Minnesota — Vest Grant.
H. State of Minnesota — Operation Heat Grant.
I. Ramsey County — Score Recycling Grant.
J. Ramsey County — Electronic Citation Grant.
K. CenterPoint Energy — Fire Department Equipment.
L. FEMA — Firefighter Grant.
Partnerships: The City partners with local businesses, civic organizations and the
Chamber of Commerce to provide a variety of community safety and education
programs. In 2011, the City continued to receive funding for the "Citizens Academy"
and "Crime Prevention" which provides alcohol awareness training and public safety for
our residents.
In addition, the City installed a Veteran's Memorial monument. This was a joint
endeavor between St. Anthony Kiwanis, St. Anthony residents, St. Anthony local
businesses and the City of St. Anthony.
Acknowledgements:
Finally, we would like to express our gratitude to the Mayor and the City Council. Their
unfailing support for maintaining the highest standard of professionalism in the
management of the City of St. Anthony's finances results in a fiscally sustainable City
government.
Respectfully submitted,
IVAJ
Mark Casey
City Manager
Shelly Rueckert
Finance Director
CITY OF ST. ANTHONY, MINNESOTA
ORGANIZATION
December31.2011
Term Expires
Mayor:
Jerry Faust December 31, 2015
Council Members
Hal Gray
December 31, 2015
Jim Roth
December 31, 2015
Randy Stille
December 31, 2013
Jan Jenson
December 31, 2013
City Manager:
Mark Casey Appointed
Finance Director:
Roger Larson (retired January 5, 2012) Appointed
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II. FINANCIAL SECTION
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10
TAUTGES REDPATH, LTD.
Certified Public Accountants
INDEPENDENT AUDITOR'S REPORT
To the Honorable Mayor and
Members of the City Council
City of St. Anthony, Minnesota
We have audited the accompanying financial statements of the governmental activities, the business -type
activities, each major fund, and the aggregate remaining fund information of the City of St. Anthony,
Minnesota, as of and for the year ended December 31, 2011, which collectively comprise the City of St.
Anthony, Minnesota's basic financial statements as listed in the table of contents. These financial
statements are the responsibility of the City of St. Anthony, Minnesota's management. Our responsibility
is to express opinions on these financial statements based on our audit. The prior year partial comparative
information has been derived from the City of St. Anthony, Minnesota's 2010 financial statements and, in
our report dated May 23, 2011, we expressed unqualified opinions on the respective financial statements
of the governmental activities, the business -type activities, each major fund, and the aggregate remaining
fund information.
We conducted our audit in accordance with auditing standards generally accepted in the United States of
America and the standards applicable to financial audits contained in Government Auditing Standards,
issued by the Comptroller General of the United States. Those standards require that we plan and perform
the audit to obtain reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements. An audit also includes assessing the accounting principles used
and significant estimates made by management, as well as evaluating the overall financial statement
presentation. We believe that our audit provides a reasonable basis for our opinions.
In our opinion, the financial statements referred to above present fairly, in all material respects, the
respective financial position of the governmental activities, the business -type activities, each major fund,
and the aggregate remaining fund information of the City of St. Anthony, Minnesota, as of December 31,
2011, and the respective changes in financial position, and cash flows, where applicable, thereof for the
year then ended in conformity with accounting principles generally accepted in the United States of
America.
As discussed in note 18 to the financial statements, the City adopted the provisions of Governmental
Accounting Standards Board Statement No. 54, Fund Balance Reporting and Governmental Fund
Type Definitions, for the year ended December 31, 2011. Adoption of the provisions of this statement
results in changes to classifications of the components of fund balance and the reclassification of the
Water Filtration and Purification fund.
4810 White Bear Parkway White Bear Lake, MN 551141 651.426.7000 651.426.5004 fax www.hlbtr.com
Equal Opportunity Employer 100 -Percent Employee -Owned
HLB Tautges Redpath.. Ltd, is a member of HLB International, a world-ande network of independent accounting firms and business advisors.
In accordance with Government Auditing Standards, we have also issued our report dated June 18, 2012
on our consideration of the City of St. Anthony, Minnesota's internal control over financial reporting and
on our tests of its compliance with certain provisions of laws, regulations, contracts and grant agreements
and other matters. The purpose of that report is to describe the scope of our testing of internal control
over financial reporting and compliance and the results of that testing and not to provide an opinion on
internal control over financial reporting or on compliance. That report is an integral part of an audit
performed in accordance with Government Auditing Standards and should be considered in assessing the
results of our audit.
Accounting principles generally accepted in the United States of America require that the management's
discussion and analysis and budgetary comparison information and OPEB Schedule of Funding Progress
on pages 13 through 23 and 84 through 90 be presented to supplement the basic financial statements.
Such information, although not a part of the basic financial statements, is required by the Governmental
Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the
basic financial statements in an appropriate operational, economic, or historical context. We have applied
certain limited procedures to the required supplementary information in accordance with auditing
standards generally accepted in the United States of America, which consisted of inquiries of management
about the methods of preparing the information and comparing the information for consistency with
management's responses to our inquiries, the basic financial statements, and other knowledge we
obtained during our audit of the basic financial statements. We do not express an opinion or provide any
assurance on the information because the limited procedures do not provide us with sufficient evidence to
express an opinion or provide any assurance.
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively
comprise the City of St. Anthony, Minnesota's financial statements as a whole. The introductory section,
combining and individual nonmajor fund financial statements and supplementary financial information
and statistical section are presented for purposes of additional analysis and are not a required part of the
financial statements. The combining and individual nonmajor fund financial statements and
supplementary financial information are the responsibility of management and were derived from and
relate directly to the underlying accounting and other records used to prepare the financial statements.
The information has been subjected to the auditing procedures applied in the audit of the financial
statements and certain additional procedures, including comparing and reconciling such information
directly to the underlying accounting and other records used to prepare the financial statements or to the
financial statements themselves, and other additional procedures in accordance with auditing standards
generally accepted in the United States of America. In our opinion, the information is fairly stated in all
material respects in relation to the financial statements as a whole. The introductory and statistical
sections have not been subjected to the auditing procedures applied in the audit of the basic financial
statements and, accordingly, we do not express an opinion or provide any assurance on them.
HLB TAUTGES REDPATH, LTD.
June 18, 2012
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MANAGEMENT'S DISCUSSION AND ANALYSIS
As management of the City of St. Anthony, Minnesota, we offer readers of the City of St.
Anthony, Minnesota's financial statements this narrative overview and analysis of the financial
activities of the City of St. Anthony, Minnesota for the fiscal year ended December 31, 2011.
We encourage readers to consider the information presented here in conjunction with additional
information that we have famished in our letter of transmittal, which can be found in the
Introductory Section of this report.
Financial Highlights
• The assets of the City of St. Anthony, Minnesota exceeded its liabilities at the close of the
most recent fiscal year by $23,665,941 (net assets).
• The City's total net assets increased by $889,505 from the prior years stated net assets.
• As of the close of the current fiscal year, the City of St. Anthony's governmental funds
reported combined ending fund balances of $8,305,131, an increase of $1,851,615 in
comparison with the prior year stated fund balances.
• At the end of the current fiscal year, unassigned fund balance for the General Fund was
$1,647,566 or 36.88 % of total General Fund Budget.
• The City of St. Anthony's total bonded debt increased by $2,080,000 (6.2%) during the
current fiscal year. The key factors in this increase were; 1) pay offfref ending of the 2003A
G.O. Road Improvement Bond totaling $1,135,000; 2) principal retirement of $1,950,000; 3)
issuance of the 2011A $2,955,000 G.O. Road Improvement Bonds; and 4) issuance of the
2011B $2,210,000 G.O. Road Improvement Bonds.
Overview of the Financial Statements
This discussion and analysis is intended to serve as an introduction to the City of St. Anthony,
Minnesota's basic financial statements. The City of St. Anthony, Minnesota's basic financial
statements comprise three components: 1) government -wide financial statements, 2) fund
financial statements, and 3) notes to the financial statements. This report also contains other
supplementary information in addition to the basic financial statements themselves.
Government -wide financial statements. The government -wide financial statements are
designed to provide readers with a broad overview of the City of St. Anthony, Minnesota's
finances, in a manner similar to a private -sector business.
The statement of net assets presents information on all of the City of St. Anthony, Minnesota's
assets and liabilities, with the difference between the two reported as net assets. Over time,
increases or decreases in net assets may serve as a useful indicator of whether the financial
position of the City of St. Anthony, Minnesota is improving or deteriorating.
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The statement of activities presents information showing how the City's net assets changed
during the most recent fiscal year. All changes in net assets are reported as soon as the
underlying event giving rise to the change occurs, regardless of the timing of related cash flows.
Thus, revenues and expenses are reported in this statement for some items that will only result in
cash flows in future fiscal periods (e.g., uncollected taxes and earned but unused vacation leave).
Both of the government -wide financial statements distinguish functions of the City of St.
Anthony, Minnesota that are principally supported by taxes and intergovernmental revenues
(governmental activities) from other functions that are intended to recover all or a significant
portion of their costs through user fees and charges (business -type activities). The governmental
activities of the City of St. Anthony, Minnesota include general government, public safety,
public works, parks and recreation, services to other cities and HRA activities. The business -
type activities of the City of St. Anthony, Minnesota include the operation of water and sewer
utilities and the municipal off -sale liquor stores.
The government -wide financial statements include not only the City of St. Anthony, Minnesota
itself (known as the primary government), but also a legally separate Housing and
Redevelopment Authority (HRA) for which the City of St. Anthony, Minnesota is financially
accountable. The HRA functions for all practical purposes as a department of the City of St.
Anthony, Minnesota, and therefore has been included as an integral part of the primary
government.
The government -wide financial statements can be found on Statements 1 and 2 of this report
Fund financial statements. Afund is a grouping of related accounts that are used to maintain
control over resources that have been segregated for specific activities or objectives. The City of
St. Anthony, Minnesota, like other state and local governments, uses fund accounting to ensure
and demonstrate compliance with finance -related legal requirements. All of the funds of the City
of St. Anthony, Minnesota can be divided into two categories: governmental funds and
proprietary funds.
Governmental funds. Governmental funds are used to account for essentially the same functions
reported as governmental activities in the government -wide financial statements. However,
unlike the government -wide financial statements, governmental fund financial statements focus
on near-term inflows and ouflows ofspendable resources, as well as on balances ofspendable
resources available at the end of the fiscal year. Such information may be useful in evaluating a
City's near-term financing requirements.
Because the focus of governmental funds is narrower than that of the government -wide financial
statements, it is useful to compare the information presented for governmental funds with similar
information presented for governmental activities in the government -wide financial statements.
By doing so, readers may better understand the long-term impact of the City's near-term
financing decisions. Both the governmental fund balance sheet and the governmental fund
statement of revenues, expenditures and changes in fund balance provide a reconciliation to
facilitate this comparison between governmental funds and governmental activities.
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The City of St. Anthony, Minnesota maintains 33 individual governmental funds. Information is
presented separately in the governmental fund balance sheet and in the governmental fund
statement of revenues, expenditures and changes in fund balance for the General, Street
Improvement Debt Service, HRA Debt Service, Street Improvement Projects, HRA Projects,
Storm Water Improvement, Silver Lake Road Project, 2009 Road Improvement Project and the
2011 Street Improvement Project, all of which are considered to be major funds. Data from the
other 23 governmental funds are combined into a single, aggregated presentation. Individual
fund data for each of these non -major governmental funds is provided in the form of combining
and sub -combining statements and schedules elsewhere in this report.
The City of St. Anthony, Minnesota adopts an annual appropriated budget for its General Fund.
A budgetary comparison statement has been provided for the General Fund to demonstrate
compliance with this budget.
The basic governmental fund financial statements can be found on Statements 3 through 5 of this
report.
Proprietary funds. The City of St. Anthony, Minnesota maintains two different types of
proprietary funds. Enterprise funds are used to report the same functions presented as business -
type activities in the government -wide financial statements. The City of St. Anthony, Minnesota
uses enterprise funds to account for its water and sewer and municipal liquor operations.
Internal service funds are an accounting device used to accumulate and allocate costs internally
among the City of St. Anthony, Minnesota's various functions. The City of St. Anthony,
Minnesota uses an internal service fund to account for its compensated absences. Because these
services predominantly benefit governmental rather than business -type functions, they have been
included within governmental activities in the government -wide financial statements.
Proprietary funds provide the same type of information as the government -wide financial
statements, only in more detail. The proprietary fund financial statements provide separate
information for the water and sewer and municipal liquor operations, which are considered to be
major funds of the City of St. Anthony, Minnesota.
The basic proprietary fund financial statements can be found on Statements 6 through 8 of this
report.
Notes to the financial statements. The notes provide additional information that is essential to
a full understanding of the data provided in the government -wide and fund financial statements.
The notes to the financial statements can be found following Statement 9 of this report.
The combining statements referred to earlier in connection with non -major governmental funds
are presented immediately following the required supplementary information on budgetary
comparisons. Combining and individual fund statements and schedules can be found on
Statements 12 through 19 of this report.
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Government -wide Financial Analysis
As noted earlier, net assets may serve over time as a useful indicator of a City's financial
position. In the case of the City of St. Anthony, Minnesota, assets exceeded liabilities by
$23,665,941 at the close of the most recent fiscal year.
As part of the City's implementation of GASB 54, the Water Filtration Fund was reclassified
from a Governmental Fund to an Enterprise Fund. This classification transferred $5,183,068 in
net assets from Governmental Funds net assets to Business type. This in tum reduced the
unrestricted portion of net assets available in Governmental Funds. Furthermore, TIF revenue
bonds were previously treated as Invested in Capital Assets net of related debt in prior years.
The City's TIF revenue bonds proceeds were used for infrastructure projects for business type
activities funds and for economic development expenses. Since these expenditures are not part
of Governmental Fund net assets a reclassification of Invested in capital assets net of related debt
has been reflected for the financial statements. The resulting unrestricted net assets of
($6,358,682) are substantially the result of these reclassifications. The City continues to receive
significant tax increment revenues to support the retirement of TIF related debt. Therefore, the
unrestricted net assets will increase with the retirement of related debt. Again, the City's overall
increase in the net assets for 2011 was $889,505.
City of St. Anthony, Minnesota's Net Assets
(A) Restated for reclassification of the Water Filtration and Purification Fund from governmental
activities to business -type activities during 2011.
The City's net assets increased by $889,505 during the current fiscal year. The key element for
the increase was a decrease in expenses relating to general government and realizing an increase
in charges for services.
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Governmental Activities
Business -Type
Activities
Totals
2011
2010 (A)
2011
2010'A'
2011
2010
Current and other assets
$11,327,971
$14,745,729
$6,385,479
51,201,174
$17,713,450
$15,946,903
Capital assets
38,491,466
37,751,834
6,407,233
6,740,905
44,898,699
44,492,739
Total assets
$49,819,437
$52,497,563
$12,792,712
57,942,079
562,612,149
$60,439,642
Long term liabilities outstanding
523,243,190
$30,657,410
$1,667,389
$1,767,701
524,910,579
532,625,111
Other liabilities
13,320,188
4,474,550
715,441
522,479
14,035,629
4,997,029
Total liabilities
$36,563,378
535,331960
52382,830
52,290180
538,946,208
537,622,140
Net assets:
Invested in capital assets net of related debt
$15,334,754
$14,098,233
$4,767,233
54,915,905
$20,101,987
$19,014,138
Restricted
4,279,987
4,407,191
-
120,000
4,279,987
4,527,191
Unrestricted
(6,358,682)
(6,522,889)
5,642,649
5,799,062
(716,033)
(723,827)
Total net assets
513,256,059
$11,982,535
$10,409,882
$10,834,967
523,665,941
%22,817,502
(A) Restated for reclassification of the Water Filtration and Purification Fund from governmental
activities to business -type activities during 2011.
The City's net assets increased by $889,505 during the current fiscal year. The key element for
the increase was a decrease in expenses relating to general government and realizing an increase
in charges for services.
16
City of St. Anthony, Minnesota's Changes in Net Assets (A)
Revenues:
Program revenue:
Charges for services
Operating grants and contributions
Capital grants and contributions
General revenue:
Property taxes
Other taxes
Grants and contributions
not restricted to specific programs
Other
Total revenues
Expenses:
General government
Public safety
Public works
Parks and recreation
Services to other cities
Housing and redevelopment
Interest on long-term debt
Liquor
Water
Water Filtration and Purification
Sewn
Total expenses
Excess before transfers
Transfers
Governmental Activities Business -Type Activities Totals
2011 2010 2011 2010 2011 2010
51,983,731
454,841
839,137
4,872,840
1,746,766
$1,974,252 58,573,676 58,402,415 510,557,407 $10,376,667
475,411 - - 454,841 475,411
992,511 - - 839,137 992,511
4,750,440
1,807,388
4,872,840 4,750,440
1,746,766 1,807,388
24,673
22,827
-
-
24,673
22,827
155,303
86,944
56,635
202,733
211,938
289,677
10,077,291
10,109,773
8,630,311
8,605,148
18,707,602
18,714,921
-
(41,066)
96,671
Net assets- January, as restated
11,913,217
10,603,382
1,052,821
1,203,472
-
-
1,052,821
1,203,472
2,971,316
2,898,043
-
-
2,971,316
2,898,043
1,834,066
1,804,779
-
-
1,834,066
1,804,779
457,822
440,858
-
-
457,822
440,858
1,039,009
1,016,479
-
-
1,039,009
1,016,479
671,934
654,145
-
-
671,934
654,145
1,302,681
1,290,844
-
-
1,302,681
1,290,844
-
-
6,537,271
6,360,985
6,537,271
6,360,985
-
-
839,785
826,352
839,785
826,352
-
-
132,981
143,031
132,981
143,031
978,411
956,635
978,411
956,635
9,329,649
9,308,620
8,488,448
8,287,003
17,818 097
17,595,623
747,642
801,153
141,863
318,145
889,505
1,119,298
595,200
578,000
(595,200)
(578,000)
Increase (decrease) in net assets
1,342,842
1,379,153
(453,337)
(259,855)
889,505
1,119 298
Net assets - January, as previously reported
11,982,535
10,506,711
10,834,967
11,094,822
22,817,502
21,601,533
Prior period adjustment
(69,318)
96,671
28,252
-
(41,066)
96,671
Net assets- January, as restated
11,913,217
10,603,382
10,863,219
11,094 822
22,776,436
21,698,204
Net assets -December 31
$13,256,059
SI 1,982,535
510,409,882
510,834,967
523,665,941
522,817,502
(A) Restated for reclassification of the Water Filtration and Purification Fund from governmental
activities to business -type activities during 2011.
17
Governmental Activities. Governmental activities increased the City of St. Anthony's net
assets by $1,342,842. The key element for the increase was the decrease in expenses relating to
general government and realizing an increase in charges for services.
Revenues by Source
Governmental
Grants and
Activities
contributions not
restricted to
specific programs Other
Charges for
Tax increments°
• 1.5%
services 19.7%
17.4%
Operating grants
and contributions
4.5%
Capital grants and
contributions 8.3%
Property
taxes
48.4%
For the most part, increases in expenses closely paralleled inflation and growth in the demand for
services.
18
Business -type activities. Business -type activities decreased net assets by $453,337. The key
factor for the decrease was that charges for sewer are not sufficient to cover depreciation. Rate
increases for all utility services were made for 2012 billings.
Revenues by Source -
Business -Type Activities
Miscellaneous
1%
Charges for
services 99%
Financial Analysis of the City's Funds
As noted earlier, the City of St. Anthony uses fund accounting to ensure and demonstrate
compliance with finance -related legal requirements.
Governmental funds. The focus of the City of St. Anthony, Minnesota's governmental funds is
to provide information on near-term inflows, outflows, and balances of spendable resources.
Such information is useful in assessing the City of St. Anthony, Minnesota's financing
requirements.
As of the end of the current fiscal year, the City of St. Anthony, Minnesota's governmental funds
reported combined ending fund balances of $8,305,131, an increase of $1,851,615 in comparison
with the prior year restated amounts.
The ending fund balance by GASB 54 designation is as follows:
Nonspendable
$55,403
Restricted
6,868,120
Committed
210,953
Assigned
763,667
Unassigned
406,988
Total
$8,305,131
19
L
The General Fund is the chief operating fund of the City of St. Anthony, Minnesota. At the end
of the current fiscal year, unassigned fund balance of the General Fund was $1,647,566, while
total fund balance reached $1,702,837. As a measure of the General Fund's liquidity, it may be
useful to compare both unassigned fund balance and total fund balance to total fund
expenditures. Unassigned fund balance represents 30.7% of total General Fund expenditures and
total fund balance represents 31.8% of that same amount.
During the current fiscal year, the fund balance in the General Fund increased by $78,137.
The Street Improvement Debt Service Fund increased by $2,241,362 as debt was refinanced near
year end and proceeds were being held for payments of debt in early 2012.
The HRA Debt Service Fund increased by $20,261 as annual revenue collected and transfers in
was more than annual debt service requirements.
The Street Improvement Projects Fund decreased by $1,256,727 substantially due to the payoff
of the Fannie Mae debt of $1,250,000. This debt was associated with Apache Plaza area land
acquisition associated with the Silver Lake Village Development.
The HRA Projects Funds increased by $291,084 to a balance of $776,143. The key factor in the
increase was that Tax Increment revenue exceed debt related payment by $322,730.
The Storm Water Improvement Fund increased by $17,528 due to charges for services exceeding
operating expenses.
The 2009 Street Improvement Project Fund decreased by $46,525 as a result of payments to
contractors and pending final construction expenses.
The 2011 Street Improvement Project Fund increased by $351,212 as a result of bonds issued.
Non -major Special Revenue Funds decreased by $57,737 to a balance of ($27,468) due to greater
activity in the area of Housing and Redevelopment.
Non -major Debt Service Funds had a total fund balance of $1,386,671, all of which is reserved
for the payment of debt service. The net increase in fund balance during the current year in the
non -major debt service funds was $344,711, of which $211,695 represents the addition of the
2011 Street Bond Fund.
Non -major Capital Project Funds had a total fund balance of ($25,791), a decrease of $131,691
20
Proprietary funds. The City of St. Anthony, Minnesota's proprietary funds provide the same
type of information found in the government -wide financial statements, but in more detail.
Unrestricted net assets in the Liquor Operations and Water and Sewer Funds at the end of the
year amounted to $5,642,649. The total net assets for each fund were: Liquor— $2,168,070;
Water and Sewer— $8,241,812.
General Fund Budgetary Highlights
Variances from actual to budget can be briefly summarized as follows:
• Licenses and permits were $50,937 less than budget due to construction related permits being
$50,319 less than anticipated.
• Fire State Aid was less than budget by $19,926 but consistent with the amount received for
2010. State Aid is based on insurance premiums paid. Fire State aid budget for 2012 was
reduced to $35,700.
• Investment income was $20,411 less than budget because rates were significantly lower than
prior years and substantial funds were held in money market funds.
• Miscellaneous revenues were $54,430 more than budget due to reimbursements of
development related costs.
• Police protection — personnel services were $54,212 less than budget due to less overtime
incurred.
• Protective Inspections were $29,136 less than budget as contracted services required were
less given reduction in construction permit activity.
• Street maintenance personnel services costs were $15,525 greater than budget. However,
these costs were consistent with 2010 actual costs. The same comment would apply other
services and charges.
• Parks and recreation personnel services costs were $11,603 less than budget due to a
reallocation of the salaries while the Public Works Director was Acting City Manager.
Capital Asset and Debt Administration
Capital Assets. The City of St. Anthony, Minnesota's investment in capital assets for its
governmental and business -type activities as of December 31, 2011 amounts to $44,898,679 (net
of accumulated depreciation). This investment in capital assets includes land, buildings and
structures, improvements, machinery and equipment, park facilities, roads and infrastructure.
The total increase in the City of St. Anthony, Minnesota's investment in capital assets for the
current fiscal year is 0.9%.
21
L.
Major capital asset events during the current fiscal year included the following:
• The annual street reconstruction and infrastructure improvement project was added.
Land
Land improvement
Buildings and structures
Furniture and fixtures
Software intangibles
Infrastructure/streets
Storm sewers
Storm water
Less accumulated depreciation
Construction in progress
Total
City of St. Anthony, Minnesota's Capital Assets
Governmental Activities
Business -Type
Activities
Totals
2011
2010
2011
2010
2011
2010
$3,378,842
$3,378,842
$5,653
$5,653
$3,384,495
$3,384,495
874,059
874,059
-
-
874,059
-
9,836,936
9,829,307
3,883,283
3,883,283
13,720,219
13,712,590
3,370,246
3,084,943
1,441,074
1,433,610
4,811,320
4,518,553
-
-
26,022
26,022
26,022
26,022
29,257,164
20,808,158
6,797,401
6,797,401
36,054,565
27,605,559
428,469
428,469
-
-
428,469
428,469
1,468,902
1,468,902
-
-
1,468,902
-
(12,096,465)
(10,655,029)
(5,746,200)
(5,405,064)
(17,842,665)
(16,060,093)
1,973,293
8,534,183
-
1,973,293
8,534,183
$38,491,446
$37,751,834
$6,407,233
$6,740,905
$44,898,679
$42,149,778
Additional information on the City of St. Anthony, Minnesota's capital assets can be found in
Note 4.
Long-term debt. At the end of the current fiscal year, the City of St. Anthony, Minnesota had
total debt outstanding of $36,947,574. Of this amount, $25,116,030 comprises debt backed by
the full faith and credit of the City, $9,345,000 is backed by tax increments, $1,640,000 is
backed by revenues sources from the City of St. Anthony, Minnesota's enterprise funds. The
remainder of the City of St. Anthony, Minnesota's debt represents the liability for compensated
absences.
City of St. Anthony, Minnesota's Outstanding Debt
General Obligation and Revenue Bonds
General obligation bonds
General obligation:
Fannie Mae loan payable
G.O. revenue bonds
Revenue bonds
Issuance premiums (discounts)
Compensated absences
Total
Governmental Activities Business -Type Activities Totals
2011 2010 2011 2010 2011 2010
$20,575,000 $17,765,000
$20,575,000 $17,765,000
-
1,250,000
- - -
1,250,000
4,675,000
5,030,000
1,640,000 1,730,000 6,315,000
6,760,000
8,975,000
9,165,000
- 95,000 8,975,000
9,260,000
236,030
150,896
- - 236,030
150,896
703,122
691,339
143,422 146,140 846,544
837,479
$35,164,152 $34,052,235 $1,783,422 $1,971,140 $36,947,574 $36,025,385
22
The City of St. Anthony's total bonded debt increased by $2,080,000 (6.2%) during the current
fiscal year. The key factors in this increase were; 1) pay off/refunding of the 2003A G.O. Road
Improvement Bond totaling $1,135,000; 2) principal retirement of $1,950,000; 3) issuance of the
2011A $2,955,000 G.O. Road Improvement Bonds; and 4) issuance of the 201113$2,210,000
G.O. Road Improvement Bonds.
The City of St. Anthony, Minnesota maintains an "AA" rating from Standard and Poor's for
general obligation debt. State statutes limit the amount of general obligation debt the City may
issue to 3% of its total market value. The current debt limitation for the City of St. Anthony,
Minnesota is $22,184,277, which is in excess of the City of St. Anthony, Minnesota's
$5,820,000 outstanding general obligation debt, excluding tax increment, special assessment, and
HRA bonds. Additional information on the City of St. Anthony, Minnesota's long-term debt can
be found in Note 5.
Economic Factors and Next Year's Budgets and Rates
• Healthy financial profile with a stable outlook including a very strong general fund balance.
• Strong income and wealth indicators relative to national levels.
• The stable outlook reflects expectations that St. Anthony will continue to maintain balanced
operations.
• Good management practices, including extensive financial planning to maintain acceptable
service levels while being sensitive to increases in property taxes remains the most
significant challenge.
These factors were considered in preparing the City of St. Anthony, Minnesota's budget for the
2011 fiscal year.
In 2010, to comply with a State of Minnesota mandate and promote conservation, tiered water
rates were implemented for all users. In addition, sewer rates were increased from $3.30 per
1,000 gallons to $3.50 per 1,000 gallons. The revenue from water and sewer operations totaled
$1,577,753, which was less than expenditures by $302,102 (19%). Analysis and monitoring of
the impact of tiered water rates and the sewer rate increase will be on-going. Rate increases were
enacted in 2012 and future rates are likely to address infrastructure improvements.
Requests for Information
This financial report is designed to provide a general overview of the City of St. Anthony,
Minnesota's finances for all those with an interest in the government's finances. Questions
concerning any of the information provided in this report or requests for additional financial
information should be addressed to the Office of the Finance Director, City of St. Anthony,
Minnesota, 3301 Silver Lake Road, St. Anthony, Minnesota, 55418.
23
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24
BASIC FINANCIAL STATEMENTS
25
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26
I
I
CITY OF ST. ANTHONY, MINNESOTA
STATEMENT OF NET ASSETS
December 31, 2011
With Comparative Totals For December 31, 2010
Assets:
Cash and investments
Restricted cash and investments
Funds held in trust
Accrued interest
Due from other governmental units
Internal balances
Accounts receivable - net
Prepaid items
Property taxes receivable
Special assessments receivable
Funds held for others
Inventories - at cost
Deferred charges
Land held for resale
Capital assets - net:
Nondepreciable
Depreciable
Total assets
Liabilities:
Accounts payable
Contracts payable
Deposits payable
Due to other governmental units
Salaries payable
Accrued interest payable
Compensated absences payable:
Due within one year
Due in more than one year
Bonds and notes payable (net of unamortized
premiums and discounts):
Due within one year
Due in more than one year
Other post employment benefits:
Due in more than one year
Total liabilities
Net assets:
Invested in capital assets, net of related debt
Restricted for:
Debt service
Public safety
Unrestricted
Total net assets
Statement 1
The accompanying notes are an integral part of these financial statements.
27
L
Primary Government
Governmental
Business -Type
Totals
Activities
Activities
2011
2010
$7,547,261
$3,053,155
$10,600,416
$10,873,621
2,164,079
2,164,079
156,163
438,161
-
438,161
438,163
255
12,936
13,191
16,432
76,773
-
76,773
34,503
(2,110,490)
2,110,490
-
-
72,534
440,419
512,953
504,945
55,403
28,911
84,314
86,881
180,241
-
180,241
78,008
1,732,227
1,732,227
1,762,304
91,018
-
91,018
160,000
-
707,010
707,010
756,838
480,529
32,558
513,087
479,045
600,000
-
600,000
600,000
5,352,135
5,653
5,357,788
11,918,678
33,139,311
6,401,580
39,540,891
32,574,061
49,819,437
12,792,712
62,612,149
60,439,642
218,919
309,461
528,380
211,594
248,093
-
248,093
109,004
2,483
88,550
91,033
118,553
6,269
83,895
90,164
231,990
152,999
51,986
204,985
197,299
561,819
28,254
590,073
560,352
235,895
58,295
294,190
249,266
467,227
85,127
552,354
588,213
11,893,711
95,000
11,988,711
3,318,968
22,567,319
1,545,000
24,112,319
31,866,928
208,644
37,262
245,906
169,973
36,563,378
2,382,830
38,946,208
37,622,140
15,334,754
4,767,233
20,101,987
19,014,138
4,263,706
-
4,263,706
4,492,871
16,281
-
16,281
34,320
(6,358,682)
5,642,649
(716,033)
(723,827)
$13,256,059
$10,409,882
$23,665,941
$22,817,502
The accompanying notes are an integral part of these financial statements.
27
L
CITY OF ST. ANTHONY, MINNESOTA
STATEMENT OF ACTIVITIES
For The Year Ended December 31, 2011
With Comparative Totals For The Year Ended December 31, 2010
Functions/Proerams
Expenses
Primary government:
839,785
Governmental activities:
132,981
General government
$1,052,821
Public safety
2,971,316
Public works
1,834,066
Parks and recreation
457,822
Services to other cities
1,039,009
Housing and redevelopment
671,934
Interest on long-term debt
1,302,681
Total governmental activities
9,329,649
Business -type activities
Liquor
6,537,271
Water
839,785
Water Filtration and Purification
132,981
Sewer
978,411
Total business -type activities
8,488,448
Total primary government
$17,818,097
The accompanying notes are an integral part of these financial statements.
28
Charges For
Services
$269,747
131,620
176,922
225,108
1,180,334
1,983,731
6,995,923
798,240
779,513
8,573,676
$10,557,407
Statement 2
General revenues:
General property taxes
Tax increment taxes
Grants and contributions not
restricted to specific programs
Unrestricted investment earnings
Other
Transfers
Total general revenues and transfers
4,872,840
1,746,766
4,872,840 4,750,440
1,746,766 1,807,388
24,673
-
24,673
Net (Expense) Revenue and
6,803
Program Revenues
59,462
Changes
in Net Assets
3,976
Operating
Capital
595,200
Primary
Government
-
Grants and
Grants and
Governmental
Business -Type
Totals
$10,409,882
Contributions
Contributions
Activities
Activities
2011
2010
$9,560
$ -
($773,514)
$ -
($773,514)
($933,645)
300,994
25,972
(2,512,730)
-
(2,512,730)
(2,419,317)
133,321
813,165
(710,658)
-
(710,658)
(510,857)
-
-
(232,714)
-
(232,714)
(220,869)
-
141,325
-
141,325
140,711
-
-
(671,934)
-
(671,934)
(639,145)
10,966
-
(1,291,715)
-
(1,291,715)
(1,283,324)
454,841
839,137
(6,051,940)
0
(6,051,940)
(5,866,446)
-
-
458,652
458,652
465,916
(41,545)
(41,545)
(40,710)
(132,981)
(132,981)
(143,031)
-
-
(198,898)
(198,898)
(166,763)
0
0
0
85,228
85,228
115,412
$454,841
$839,137
(6,051,940)
85,228
(5,966,712)
(5,751,034)
General revenues:
General property taxes
Tax increment taxes
Grants and contributions not
restricted to specific programs
Unrestricted investment earnings
Other
Transfers
Total general revenues and transfers
4,872,840
1,746,766
4,872,840 4,750,440
1,746,766 1,807,388
24,673
-
24,673
22,827
6,803
52,659
59,462
224,357
148,500
3,976
152,476
65,320
595,200
(595,200)
-
-
7,394,782
(538,565)
6,856,217
6,870,332
Change in net assets
(
1,342,842
(453,337)
889,505
1,119,298
Net assets - January 1, as previously reported 11,982,535
10,834,967
22,817,502
21,601,533
Prior period adjustment
(69,318)
28,252
(41,066)
96,671
Net assets - January 1, as restated
11,913,217
10,863,219
22,776,436
21,698,204
Net assets - December 31
$13,256,059
$10,409,882
$23,665,941
$22,817,502
The accompanying notes are an integral part of these financial statements.
L i 29
CITY OF ST. ANTHONY, MINNESOTA
BALANCESHEET
GOVERNMENTALFUNDS
December 31, 2011
The accompanying notes are an integral part of these financial statements.
30
345/503 Street
325/311/312/335/
504/340 Street
101/900 General
improvement Debt
336 HRA Debt
Improvement
Fund
Service
Service
Projects
Assets
Cash and investments
$1,314,738
$1,265,668
$521,554
$354,111
Funds held in trust
-
-
437,465
-
Restricted cash
-
2,164,079
-
-
Accrued interest
-
-
6
_
Due from other governmental units
22,512
-
-
-
Interfundreceivable
420,091
-
-
-
Accounts receivable -net
50,896
-
-
-
Prepaid items
55,271
-
-
-
Property taxes receivable:
Delinquent
47,496
15,239
6,921
-
Due from county
20,664
7,120
2,603
-
Special assessments receivable
25,074
1,170,130
-
-
Funds held by others
-
-
_
-
Land held for resale
600,000
Total assets
$1,956,742
$4622,236
$968,549
$954,111
Liabilities and Fund Balance
Liabilities:
Accounts payable
$47,712
$ -
$ -
$ -
Contracts payable
-
Interfund payable
-
Deposits payable
-
Interfund loan payable
-
-
437,430
600,000
Due to other governmental units
6,197
-
-
-
Salaries payable
152,469
-
-
Deterred revenue
47,527
1,179,400
6,921
Total liabilities
253,905
1,179,400
444,351
600,000
Fund balance:
Nonspendable
55,271
-
-
-
Restricted
-
3,442,836
524,198
-
Committed
_
_
_
_
Assigned
-
-
-
354,111
Unassigned
1,647,566
Total fund balance
1,702,837
3,442,836
524,198
354,111
Total liabilities and fund balance
$1,956,742
$4,622,236
$968,549
$954,111
The accompanying notes are an integral part of these financial statements.
30
Statement 3
321/326/330/319/
320 HRA Projects
702 Storm Water
Improvement
360 Silver Lake
Road Project
Fund
5112009 Street
Improvement
Project Fund
515 2011 Street
Improvement
Project Fund
Other
Governmental
Funds
Intra -Activity
Eliminations
Total
Governmental
Funds
- 210,953
- 9,798 544 - 189,591
209,623
- 763,667
(813,009) (28,339) -
(399,230)
- 406,988
2011
$1,868,089
$12,445
$544
$56,725
$308,712
$1,770,410
$ -
$7,472,996
696
-
-
-
-
-
-
438,161
38,491,446
Other long-term assets are not available to pay for current -period expenditures and, therefore, are
deferred in the funds.
-
-
2,164,079
therefore are not reported in the funds.
-
249
-
255
-
353
-
-
43,908
10,000
-
76,773
$13,256,059
-
-
(420,091)
-
_
-
21,638
-
72,534
_
_
_
_
-
132
-
55,403
61,874
_
_
-
-
9,230
-
140,760
4,745
-
-
-
-
4,349
-
39,481
_
_
-
-
-
537,023
-
1,732,227
91,018
-
-
-
-
-
-
91,018
_
-
-
600,000
$2,026.422
$12,798
$544
$56,725
$352,620
$2,353,031
($420,091)
$12,883,687
$67,051 $3,000 $ - $ - $ - $101,156 $ - $218,919
- - - 85,064 163,029 - - 248,093
118,871 - - - - 301,220 (420,091) -
2,483 - - - - - - 2,483
1,000,000 - - - - 73,060 - 2,110,490
- 72 - 6,269
- 530 - 152,999
61,874 - 543,581 - 1,839,303
1,250,279 3,000 0 85,064 163,029 1,019,619 (420,091) 4,578,556
_ _ _ - -
132
- 55,403
1,498,134 - - - -
1,402,952
- 6,868,120
91,018 - - - -
119,935
- 210,953
- 9,798 544 - 189,591
209,623
- 763,667
(813,009) (28,339) -
(399,230)
- 406,988
776,143 9,798 544 (28,339) 189,591
1,333,412
0 8,305,131
$2,026,422 $12,798 $544 $56,725 $352,620
$2.353,031
($420,091) $12,883,687
Fund balance reported above
$8,305,131
Amounts reported for governmental activities in the statement of net assets are different because:
Capital assets used in governmental activities are not financial resources, and therefore, are not
reported in the funds.
38,491,446
Other long-term assets are not available to pay for current -period expenditures and, therefore, are
deferred in the funds.
1,839,303
Long -tem liabilities, including bonds payable, are not due and payable in the current period and
therefore are not reported in the funds.
(34,750,964)
Internal service funds are used by management to charge the cost of employee vacation and
severance to individual funds. The assets and liabilities are included in the governmental
activities on the statement of net assets
(628,857)
Net assets of governmental activities
$13,256,059
The accompanying notes are an integral part of these financial statements.
31
CITY OF ST. ANTHONY, MINNESOTA
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE
GOVERNMENTALFUNDS
For The Year Ended December 31, 2011
With Comparative Totals For The Year Ended December 31, 2010
Revenues:
General property taxes
Tax increment collections
Licenses, fees and permits
Intergovernmental
Special assessments
Charges for services
Cable franchise fees
Fines and forfeits
Investment income
Contributions and donations
Miscellaneous
Total revenues
Expenditures:
Current:
General government
Public safety
Public works
Parks and recreation
Services to other cities
Nondepartmental
Housing and redevelopment
Capital outlay:
General government
Public safety
Public works
Debt service:
Principal
Interest
Paying agent fees
Professional service
Issuance costs
Construction/acquisition costs
Developer incentives
Total expenditures
Revenues over (under) expenditures
Other financing sources (uses):
Bonds issued
Refunding bonds issued
Redemption of refunded bonds
Premium on debt issued
Sale of capital assets
Transfers in
Transfers out
Total other financing sources (uses)
Net change in fund balance
Fund balance - January 1
Prior period adjustment
Fund balance - January 1, as restated
Fund balance - December 31
345/503 Street 325/311/312/335 504/340 Street 321/326/330/319
101/900 General Improvement /336 HRA Debt Improvement /320 HRA
Fund Debt Service Service Projects Projects
$2,925,430 $893,780 $404,987 $ - $ -
- - - - 1,708,873
195,563 - - - _
391,093 - - - 12,781
- 324,388 - - -
1,261,824 -
96,608
107,053
89 63 70 33 152
610 _
105,460 336
5,083,730 1,218,231 405,057 33 1,722,142
747,553 - 1,155 -
2,671,817 - - -
669,582 - - -
209,049 - - -
1,039,009 - - -
22,283 - - -
- 800,000
590,000 1,250,000
- 330,055
652,274 6,760
- 3,958
5,978 -
- 16,909
8,710 -
- 67,278
-
44,915
- - - 444,013
5,359,293 1,218,200 1,258,117 1,256,760 488,928
(275,563) 31 (853,060) (1,256,727) 1,233,214
3,225,000 -
(1,030,000) -
46,331
419,800
-
873,321
-
(66,100)
(942,130)
353,700
2,241,331
873,321
0
(942,130)
78,137
2,241,362
20,261
(1,256,727)
291,084
1,624,700
1,201,474
503,937
1,610,838
554,377
-
-
(69,318)
1,624,700
1,201,474
503,937
1,610,838
485,059
$1,702,837
$3,442,836
$524,198
$354,111
$776,143
The accompanying notes are an integral part of these financial statements.
32
Statement 4
702 Storm 360 Silver Lake
5112009 Street
515 2011 Street
Other
Water Road Project
Improvement
Improvement
Governmental Intra -Activity
Improvement Fund
Project Fund
Project Fund
Funds Eliminations Total Governmental Funds
- 193,290
- 517,678
398,895
2011 2010
$653,071
S - $4,877,268
$4,787,076
-
- 1,708,873
1,911,678
- -
- 195,563
224,096
_ - - 43,908 413,962
- 861,744
1,239,053
- 193,290
- 517,678
398,895
23,607 - - - 288,544
- 1,573,975
1,528,210
_ _ _ -
- 96,608
92,786
10,782
- 117,835
128,165
- - 5 66 6,314
- 6,792
24,983
-
- 610
2,834
42,704
148,500
708,181
23,607 0 5 43,974 1,608,667
0 10,105,446
11,045,957
- 89,855
- 883,478
1,063,903
_ _ - - 28,511
- 2,700,328
2,615,752
6,079 - - - 9,100
- 684,761
689,760
- - - - 157,104
- 366,153
388,808
-
- 1,039,009
1,016,479
-
- 22,283
6,940
- 227,921
- 227,921
183,513
- 12,661
- 12,661
-
_ - 152,405
- 152,405
67,850
- 112,158
- 112,158
212,029
-
-
480,000
- 3,120,000
4,255,000
-
-
282,460
- 1,271,549
1,392,608
-
1,646
- 11,582
8,763
-
-
4,490
- 30,109
3,117
_
-
-
- 67,278
-
_ - 46,530
1,639,126
268,267
- 1,953,923
2,420,767
105,598
402
444,013
470,632
6,079 0 46,530
1,639,126
1,826,578
0 13,099,611
14,795,921
17,528 0 (46,525)
(1,595,152)
(217,911)
0 (2,994,165)
(3,749,964)
-
-
-
1,887,097
52,903
-
1,940,000
1,375,000
-
-
-
3,225,000
-
_
-
-
-
(1,030,000)
-
_
-
-
59,267
-
-
105,598
402
-
-
-
9,982
-
9,982
15,347
-
-
-
310,309
(1,008,230)
595,200
578,000
,008,230
0
0
0
1,946,364
373,194
0
4,845,780
1,968,749
17,528
0
(46,525)
351,212
155,283
0
1851,615
(1,781,215)
(7,730)
544
18,186
(161,621)
1,178,129
-
6,522,834
8,207,378
(69,318)
96,671
(7,730)
544
18,186
(161,621)
1,178,129
0
6,453,516
8,304,049
$9,798
5544
($28,339)
$189,591
51333,412
s0
$5305,131
$6,522,834
The accompanying notes are an integral part of these financial statements.
33
L
CITY OF ST. ANTHONY, MINNESOTA
RECONCILIATION OF THE STATEMENT OF REVENUES,
EXPENDITURES AND CHANGES IN FUND BALANCES OF
GOVERNMENTALFUNDS
For The Year Ended December 31, 2011
With Comparative Amounts For The Year Ended December 31, 2010
Amounts reported for governmental activities in the
statement of activities (statement 2) are different because:
Net changes in fund balances - total governmental funds (statement 4)
Governmental funds report capital outlays as expenditures. However, in the
statement of activities the cost of those assets is allocated over their
estimated useful lives and reported as depreciation expense. This is the
amount by which capital outlays exceeded depreciation in the current period.
The net effect of various miscellaneous transactions involving capital assets
(i.e., sales, trade-ins and donations) is to decrease net assets, as follows:
Book value of disposals
Revenues in the statement of activities that do not provide current financial
resources are not reported as revenues in the funds.
The issuance of long-term debt (e.g., bonds, leases) provides current financial
resources to governmental funds, while the repayment of the principal of
long-term debt consumes the current financial resources of governmental
funds. Neither transaction, however, has any effect on net assets. This
amount is the net effect of these differences in the treatment of long-term debt
and related items.
Some expenses reported in the statement of activities do not require the use of
current financial resources and, therefore, are not reported as expenditures in
governmental funds.
Internal Service Funds are used by management to charge the cost of severance
expense to individual funds. This amount is the net income attributable to
governmental activities.
Change in net assets of governmental activities (statement 2)
34
Statement 5
2011 2010
$1,851,615 ($1,824,631)
755,975 1,284,219
(16,363) (52,652)
(28,166) (938,354)
(1,184,327) 2,811,523
28,711 89,699
(64,603) (34,067)
$1,342,842 $1,335,737
CITY OF ST. ANTHONY, MINNESOTA
STATEMENT OF NET ASSETS
12,936
Statement 6
PROPRIETARY FUNDS
1,468
438,951
December 31, 2011
453,850 -
10,982
With Compamtvie Totals For December 31, 2010
28,911
29,297 -
707,010
1,433,610
Governmental
756,838 -
Business -Type Activities Enterprise Funds
Activities -
5,104,551
701n04 Water
Internal Service
-
705 Liquor and Sewer Totals
Fund
Assets:
2011 2010
9,840,884
Current assets:
Cash and cash equivalents
Restricted cash and cash equivalents
Due from other governmental units
Interfund loan receivable - current portion
Receivables:
Interest
Accounts
Prepaid items
Inventories - at cost
Total current assets
Noncurrent assets:
Interfund loan receivable - noncurrent portion
Deferred charges
Capital assets:
Land
Buildings and stmctures
Furniture, fixtures and equipment
Distribution and collection system
Software intangibles
Total capital assets
Less: Allowance for depreciation
Net capital assets
Total noncurrent assets
Total assets
Liabilities:
Current liabilities:
Interfund payable
Accounts payable
Due to other governmental units
Salaries payable
Accmed interest payable
Refundable deposits
Compensated absences payable - current portion
Bonds and notes payable - current portion
Interfund loan payable - current portion
Total current liabilities
Noncurrent liabilities:
Compensated absences payable - noncurrent portion
Bonds and notes payable - noncurrent portion
Interfund loan payable - noncurrent portion
Other post employement benefits
Total noncurrent liabilities
Total liabilities
$487,028 $2,566,127 $3,053,155 $2,943,143 $74,265
- - - 156,163 -
900
862,120 862,120
-
12,936
12,936
16,425 -
1,468
438,951
440,419
453,850 -
10,982
17,929
28,911
29,297 -
707,010
1,433,610
707,010
756,838 -
1,206,488
3,898,063
5,104,551
4,356,616 74,265
1,357,870 1,357,870 2,262,110 -
- 32,558 32,558 37,759 -
-
5,653
5,653
5,653
-
1,875,328
2,007,955
3,883,283
3,883,283
-
411,200
1,029,875
1,441,075
1,433,610
-
-
6,797,401
6,797,401
6,797,401
-
26,022
-
26,022
26,022
14,984
2,312,550
9,840,884
12,153,434
12,145,969
0
(792,898)
(4,953,303)
(5,746,201)
(5,405,064)
-
1,519,652
4,887,581
6,407,233
6,740,905
T-
1,519,652
6,278,009
7,797,661
9,040,774
0
2,726,140
10,176,072
12,902,212
13,397,390
74,265
-
-
-
92,659 -
272,279
37,182
309,461
55,390 -
78,346
5,549
83,895
81,779 -
27,069
24,917
51,986
46,716 -
-
28,254
28,254
29,529 -
-
88,550
88,550
114,152 -
14,984
43,311
58,295
43,497 235,895
-
95,000
95,000
185,000 -
36,500
-
36,500
36,500 -
429,178
322,763
751,941
685,222 235,895
35,874
49,253
85,127
102,643 467,227
-
1,545,000
1,545,000
1,640,000 -
73,000
-
73,000
109,500 -
20,018
17,244
37,262
25,058
128,892
1,611,497
1,740,389
1,977,201 467,227
558,070
1,934,260
2,492,330
2,562,423 703,122
Net assets:
Invested in capital assets, net of related debt 1,519,652 3,247,581 4,767,233 4,915,905 -
Restricted for debt service - - - 120,000 -
Unrestricted 648,418 4,994,231 5,642,649 5,799,062 (628,857)
Total net assets $2,168,070 $8,241,812 $10,409,882 $10,834,967 ($628,857)
The accompanying notes are an integral part of these financial statements.
35
CITY OF ST. ANTHONY, MINNESOTA
STATEMENT OF REVENUES, EXPENSES AND
679,925
1,362,824
Statement 7
CHANGES IN FUND NET ASSETS
92,104
443,960
408,589 -
PROPRIETARY FUNDS
110,440
133,973
159,395 -
For The Year Ended December 31, 2011
522,503
522,503
502,255 -
With Comparatvie Totals For The Year Ended December 31, 2010
218,809
238,353
210,977 -
85,062
256,074
Governmental
330,113 -
Business -Type Activities Enterprise Funds
Activities -
3,042,749
701 /704
491,311
(302,102)
189,209
Water and
Internal
705 Liquor Sewer
Totals
Service Fund
2011 2010
Sales
$6,995,923 $
$6,995,923 $6,826,901
$
Cost of sales
(5,341,718) -
(5,341,718) (5,232,072)
-
Gross profit
1,654,205 0
1,654,205 1,594,829
0
Operating revenues:
Customer billings
Connection charges
Total operating revenues
Total gross profit and operating revenues
Operating expenses:
Personal services
Supplies
Contracted services
Treatment charges (MCES)
Other
Depreciation
Total operating expenses
Operating income (loss)
Nonoperating revenues (expenses):
Investment income
Interest expense
Amortization of deferred charges
Paying agent fees
Gain on sale of capital assets
Miscellaneous revenue
Miscellaneous expense
Total nonoperating revenues (expenses)
Income (loss) before transfers
Transfers:
Transfers out
Change in net assets
Net assets - January I
Prior period adjustment
Net assets - January 1, as restated
Net assets - December 31
1,577,753 1,577,753 1,574,664 -
- - 850
0 1,577,753 1,577,753 1,575,514 0
1,654,205 1,577,753 3,231,958 3,170,343
682,899
679,925
1,362,824
1,347,216 64,614
351,856
92,104
443,960
408,589 -
23,533
110,440
133,973
159,395 -
-
522,503
522,503
502,255 -
19,544
218,809
238,353
210,977 -
85,062
256,074
341,136
330,113 -
1,162,894
1,879,855
3,042,749
2,958,545 64,614
491,311
(302,102)
189,209
211,798 (64,614)
218 52,441
(12,763) (68,064)
(2,549) (2,694)
(564)
52,659
199,279
(80,827)
(90,824)
(5,243)
(5,201)
(564)
(361)
-
600
11
3,443 533 3,976 6,882
(17,347) - (17,347) (4,028) -
(28,998) (18,348) (47,346) 106,347 11
462,313 (320,450) 141,863 318,145 (64,603)
(417,200) (178,000) (595,200) (578,000)
45,113
(498,450)
(453,337)
(259,855)
(64,603)
2,122,957
8,712,010
10,834,967
11,094,822
(564,254)
-
28,252
28,252
-
2,122,957
8,740,262
10,863,219
11,094,822
(564,254)
$2,168,070
$8,241,812
$10,409,882
$10,834,967
($628,857)
The accompanying notes are an integral part of these financial statements.
36
CITY OF ST. ANTHONY, MINNESOTA
STATEMENT OF CASH FLOWS
PROPRIETARY FUNDS
For The Year Ended December 31, 2011
Cash flows from operating activities:
Receipts from customers and users
Payment to suppliers
Payment to employees
Miscellaneous revenue
Miscellaneous expense
Net cash flows provided by (used in) operating activities
Cash flows from noncapital financing activities:
Transfer to General Fund
Transfer to Capital Project Funds
Change ininterfund receivable/payable
Net cash flows provided by (used in) noncapital financing
activities
Cash flows from capital and related
financing activities:
Acquisition of capital assets
Change in interfund loan receivable/payable
Interest paid on interfund payable
Principal paid on debt
Interest paid on debt
Net cash flows provided by (used in) capital and related
financing activities
Cash flows from investing activities:
Investment income
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents - January 1
Cash and cash equivalents - December 31
Reconciliation of operating income (loss) to net cash
provided (used) by operating activities:
Operating income (loss)
Adjustments to reconcile operating income (loss)
to net cash flows from operating activities:
Miscellaneous revenue
Miscellaneous expense
Depreciation
Changes in assets and liabilities:
Decrease (increase)in receivables
Decrease (increase) in prepaid items
Decrease (increase) in inventory
Increase (decrease) in payables
Total adjustments
Net cash provided by operating activities
Statement 8
Governmental
Business -Type Activities Enterprise Funds Activities -
701/704
Water and Internal
705 Liquor Sewer Totals Service Fund
2011
$7,008,009 $1,579,998 $8,588,007 $
(5,412,838) (958,659) (6,371,497) -
(671,609) (676,459) (1,348,068) (52,831)
3,443 533 3,976 -
(17,347) - (17,347) -
909,658 (54,587) 855,071 (52,831)
(291,800) (128,000) (419,800)
(125,400) (50,000) (175,400)
(15,609) (77,050) (92,659)
(432,809) (255,050) (687,859) 0
(7,465)
- (7,465)
(36,500)
42,120 5,620
(7,300)
- (7,300)
(95,000)
(90,000) (185,000)
(5,463)
(69,903) (75,366)
(151,728) (117,783) (269,511)
1,344 54,804 56,148 11
326,465 (372,616) (46,151) (52,820)
160,563 2,938,743 3,099,306 127,085
$487,028 $2,566,127 $3,053,155 $74,265
$491,311 ($302,102) $189,209 ($64,614)
3,443 533 3,976
(17,347) - (17,347)
85,062 256,074 341,136
12,086
2,245
14,331 -
860
(474)
386 -
49,828
-
49,828 -
284,415
(10,863)
273,552 11,783
418,347
247,515
665,862 11,783
$909,658
($54,587)
$855,071 ($52,831)
The accompanying notes are an integral part of these financial statements.
37
CITY OF ST. ANTHONY, MINNESOTA
STATEMENT OF FIDUCIARY NET ASSETS
FIDUCIARY FUND
VETERAN'S MEMORIAL FUND
December 31, 2011
With Comparative Totals For December 31, 2010
The accompanying notes are an integral part of these financial statements.
38
Statement 9
1107[1;
$200
$200
$200
$200
2011
Asses:
Cash and investments
($13,372)
Accounts receivable - net
13,372
Total assets
$0
Liabilities:
Deposits payable
$ _
Total liabilities
$0
The accompanying notes are an integral part of these financial statements.
38
Statement 9
1107[1;
$200
$200
$200
$200
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2011
Note 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The City of St. Anthony, Minnesota (the City) operates pursuant to applicable Minnesota laws and statutes
under the council-manager plan (Statutory Plan B) as defined by State statutes. The government of the City is
directed by a Council composed of an elected mayor and four other elected members. The Council exercises
legislative authority and determines matters of policy. The Council appoints the City Manager who is
responsible for the administration of all affairs relating to the City.
The financial statements of the City have been prepared in conformity with generally accepted accounting
principles as applied to governmental units by the Governmental Accounting Standards Board (GASB). The
following is a summary of the significant accounting policies.
A. FINANCIAL REPORTING ENTITY
As required by generally accepted accounting principles, the financial statements of the reporting
entity include those of the City (the primary government) and its component units. The component
unit discussed below is included in the City's reporting entity because of the significance of their
operational or financial relationships with the City.
COMPONENT UNITS
In conformity with generally accepted accounting principles, the financial statements of the component
unit have been included in the financial reporting entity as a blended component unit.
The Housing and Redevelopment Authority (HRA) is an entity legally separate from the City.
However, for financial reporting purposes, the HRA is reported as if it were part of the City's
operations because the members of the City Council serve as HRA board members and its activity is
confined to the City. The City established the HRA under State statutes to assist and support housing
and redevelopment projects undertaken within the City which are under the statutory authority of the
HRA. The City reviews and approves tax levies and other financial matters related to the HRA. The
City provides major financing of HRA activities and debt issued in connection with HRA projects are
general obligations of the City. The activity of the HRA is reported in the HRA Debt Service Fund,
the HRA Projects Fund and the HRA Special Revenue Fund. Separate financial statements are not
prepared for the HRA.
B. GOVERNMENT -WIDE AND FUND FINANCIAL STATEMENTS
The government -wide financial statements (i.e., the statement of net assets and the statement of
changes in net assets) report information on all of the nonfiduciary activities of the primary
government and its component units. For the most part, the effect of interfund activity has been
removed from these statements. Governmental activities, which normally are supported by taxes and
intergovernmental revenues, are reported separately from business -type activities, which rely to a
significant extent, on fees and charges for support.
39
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2011
The statement of activities demonstrates the degree to which the direct expenses of a given function or
business -type activity is offset by program revenues. Direct expenses are those that are clearly
identifiable with a specific function or business -type activity. Program revenues include 1) charges to
customers or applicants who purchase, use or directly benefit from goods, services or privileges
provided by a given function or business -type activity; and, 2) grants and contributions that are
restricted to meeting the operational or capital requirements of a particular function or business -type
activity. Taxes and other items not included among program revenues are reported instead as general
revenues.
Separate financial statements are provided for governmental funds and proprietary funds. Major
individual governmental funds and major individual enterprise funds are reported as separate columns
in the fund financial statements.
C. MEASUREMENT FOCUS, BASIS OF ACCOUNTING AND FINANCIAL STATEMENT
PRESENTATION
The government -wide financial statements are reported using the economic resources measurement
focus and the accrual basis of accounting, as are the proprietary fund financial statements. Revenues
are recorded when earned and expenses are recorded when a liability is incurred, regardless of the
timing of related cash flows. Property taxes are recognized as revenues in the year for which they are
levied. Grants and similar items are recognized as revenue as soon as all eligibility requirements
imposed by the provider have been met. The City's only fiduciary fund is an agency fund. Agency
funds are custodial in nature (assets equal liabilities) and do not involve measurement of results of
operations.
Governmental fund financial statements are reported using the current financial resources
measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon as
they are both measurable and available. Revenues are considered to be available when they are
collectible within the current period or soon enough thereafter to pay liabilities of the current period.
For this purpose, the City considers all revenues, except property taxes and reimbursement grants, to
be available if they are collected within 90 days of the end of the current fiscal period. Property taxes
are considered available if they are collected within 60 days of the end of the current year.
Reimbursement grants are considered available if they are collected within one year of the end of the
current fiscal period. Expenditures generally are recorded when a liability is incurred, as under accrual
accounting. However, debt service expenditures, as well as expenditures related to compensated
absences and claims and judgments, are recorded only when payment is due.
Property taxes, special assessments, intergovernmental revenues, charges for services and interest
associated with the current fiscal period are all considered to be susceptible to accrual and so have
been recognized as revenues of the current fiscal period. Only the portion of special assessments
receivable due within the current fiscal period is considered to be susceptible to accrual as revenue of
the current period. All other revenue items are considered to be measurable and available only when
cash is received by the City.
40
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2011
The City reports the following major governmental funds:
The General Fund is the government's primary operating fund. It accounts for all financial
resources of the general government, except those required to be accounted for in another fund.
The Street Improvement Debt Service Fund was established to account for debt associated with a
systematic plan to reconstruct substandard residential streets and alleys. Annual debt service
payments are funded through special assessments and tax levies.
The HRA Debt Service Fund was established to account for debt associated with Tax Increment
Financing Districts of the City.
The Street Improvement Projects Fund was established to account for the construction costs for
annual road reconstruction projects.
The HRA Projects Fund was established to account for the construction and redevelopment costs
within the City.
The Storm Water Improvement Fund was established to account for the construction costs
associated with the 100 -Year Flood Protection Project and related flooding issues.
The Silver Lake Road Project Fund was established to account for the funding and costs of
reconstruction for Silver Lake Road from 37`" Avenue NE to St. Anthony Boulevard.
The 2009 Street Improvement Fund accounts for the construction costs associated with the
reconstruction of Foss Road from Chandler Drive to the City limits.
The 2011 Street Improvement Project Fund accounts for the street reconstruction and lighting
improvements to Belden Drive, Coolidge Street, Harding Street and Edward Street. Sidewalk
improvements will occur on W Avenue from Macalaster Drive to Silver Lake Road.
The City reports the following major proprietary funds:
The Liquor Fund is an enterprise fund that is used to account for operations of the City's off -sale
liquor operation.
The Water and Sewer Fund accounts for the water and sewer service charges which are used to
finance the water and sewer system operating expenses, and the operation and maintenance of the
City's water purification plant.
Additionally, the City reports the following fund types:
Internal Service Fund - the Severance Fund accounts for the liability the City has for employee
vacation and severance payments.
Agency Fund - the Veteran's Memorial Fund accounts for donations collected for other entities
�. for the construction of the future Veteran's Memorial.
41
L.
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2011
As a general rule the effect of interfund activity has been eliminated from the government -wide
financial statements. Exceptions to this general rule are transactions that would be treated as revenues,
expenditures or expenses if they involved external organizations, such as buying goods and services or
payments in lieu of taxes, are similarly treated when they involve other funds of the City. Elimination
of these charges would distort the direct costs and program revenues reported for the various functions
concerned.
Amounts reported as program revenues include 1) charges to customers or applicants for goods,
services or privileges provided, 2) operating grants and contributions, and 3) capital grants and
contributions, including special assessments. Internally dedicated resources are reported as general
revenues rather than as program revenues. Likewise, general revenues include all taxes.
Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating
revenues and expenses generally result from providing services and producing and delivering goods in
connection with a proprietary fund's principal ongoing operations. The principal operating revenues
of the liquor, water and sewer enterprise funds are charges to customers for sales and services.
Operating expenses for enterprise funds include the cost of sales and services, administrative expenses,
and depreciation on capital assets. All revenues and expenses not meeting this definition are reported
as nonoperating revenues and expenses.
When both restricted and unrestricted resources are available for an allowable use, it is the City's
policy to use restricted resources first, then unrestricted resources as they are needed.
D. BUDGETS
Budgets are legally adopted on a basis consistent with generally accepted accounting principles.
Annual appropriated budgets are legally adopted for the General and all Special Revenue Funds,
except the Water Filtration and Purification Fund. Budgeted expenditure appropriations lapse at year
end.
Encumbrance accounting, under which purchase orders, contracts and other commitments for the
expenditure of monies are recorded in order to reserve that portion of the appropriation, is not
employed by the City because it is at present not considered necessary to assure effective budgetary
control or to facilitate effective cash management.
E. LEGAL COMPLIANCE - BUDGETS
The City follows these procedures in establishing the budgetary data reflected in the financial
statements:
1) The City Manager submits to the City Council a proposed operating budget for the upcoming year
in August. The operating budget includes proposed revenues and expenditures and the operating
levy associated with operations.
2) The City Council and staff meet to review the proposed budget and Council recommends any
appropriate changes.
3) Public hearings are conducted in April and December to obtain taxpayer comments and
recommendations to the operating budget.
42
L
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2011
4) The budget and tax levy is legally enacted through the passage of a resolution on a department
basis for the General Fund and on a fund basis for Special Revenue and Enterprise Funds that can
be expended by each department based upon detailed budget estimates.
5) The City Manager and Finance Director are authorized to transfer appropriations within any
department budget. Interdepartmental or interfund appropriations and deletions are authorized by
the City Council with fund contingency reserves or additional revenues.
6) Formal budgetary integration is employed as a management control device during the year for the
General Fund, Special Revenue, Capital Equipment and Enterprise Funds. The General Fund,
Special Revenue Funds and Enterprise Funds all have Council adopted annual budgets.
7) Legal debt obligation indentures determine the appropriation level of debt service tax levies for
the Debt Service Funds. Supplementary budgets are adopted for the Proprietary Funds to
determine and calculate user charges. These debt service and budget amounts represent general
obligation bond indenture provisions and net income for operation and capital maintenance and
are not reflected in the financial statements.
8) A capital improvement program is reviewed annually by the City Council for the Capital Project
Funds. However, appropriations for major projects are not adopted until the actual bid award of
the improvement. The appropriations are not reflected in the financial statements.
9) The legal level of budgetary control is at the department level for the General Fund and the fund
level for the Special Revenue Funds. Monitoring of budgets is maintained at the expenditure
category level (i.e., personal services; materials and supplies; contractual services; and capital
outlay) within each program. All amounts over budget have been approved by the City Council
through the disbursement process.
10) The City Council may authorize transfer of budgeted amounts between City funds. The City
Council made supplemental budgetary appropriations throughout the year. Individual
amendments were not material in relation to the original appropriations which were adjusted.
The following is a listing of the Special Revenue Fund whose expenditures exceed budget
appropriations:
F. CASH AND INVESTMENTS
Cash and investment balances from all funds, except the Liquor Fund, are pooled and invested to the
extent available in authorized investments. Investment income is allocated to individual funds on the
basis of the fund's equity in the cash and investment pool.
The City provides temporary advances to funds that have insufficient cash balances by means of an
advance from another fund shown as interfund receivables in the advancing fund, and an interfund
payable in the fund with the deficit, until adequate resources are received. These interfund balances
are eliminated on the government -wide financial statements.
43
Final
Over
Budget
Actual
Budget
Nonmaj or Fund:
Special Revenue Fund:
Police Forfeiture Fund
$26,000
$39,497
$13,497
Fire Education /Training Fund
2,700
6,026
3,326
HRA Fund
215,000
227,921
12,921
F. CASH AND INVESTMENTS
Cash and investment balances from all funds, except the Liquor Fund, are pooled and invested to the
extent available in authorized investments. Investment income is allocated to individual funds on the
basis of the fund's equity in the cash and investment pool.
The City provides temporary advances to funds that have insufficient cash balances by means of an
advance from another fund shown as interfund receivables in the advancing fund, and an interfund
payable in the fund with the deficit, until adequate resources are received. These interfund balances
are eliminated on the government -wide financial statements.
43
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2011
Investments are stated at fair value, based upon quoted market prices, except for investments in 2a7 -
like external investment pools, which are stated at amortized cost. Investment income is accrued at the
balance sheet date.
For purposes of the statement of cash flows, the City considers all highly liquid investments with a
maturity of three months or less when purchased to be cash equivalents. All of the cash and
investments allocated to the Proprietary Funds have original maturities of 90 days or less. Therefore,
the entire balance in the Proprietary Funds is considered cash equivalents.
Funds held in trust represent bond proceeds related to the Public Facilities Lease Revenue bond issue
which are being held by a trustee. The trustee is responsible for the investment of these funds.
G. RECEIVABLES AND PAYABLES
During the course of operations, numerous transactions occur between individual funds for goods
provided or services rendered. Short-term interfund loans are classified as "interfund
receivables/payables." All short-term interfund receivables and payables at December 31, 2011 are
planned to be eliminated in 2012. Long-term interfund loans are classified as "interfund loan
receivable/payable." Any residual balances outstanding between the governmental activities and
business -type activities are reported in the government -wide financial statements as "internal
balances."
Uncollectible property taxes and special assessments are not material and have not been reported (see
Note I H and I). Because utility bills are considered liens on property, no estimated uncollectible
amounts are established. Uncollectible amounts are not material for other receivables and have not
been reported.
H. PROPERTY TAX REVENUE RECOGNITION
The City Council annually adopts a tax levy and certifies it to the County in December
(levy/assessment date) of each year for collection in the following year. The County is responsible for
billing and collecting all property taxes for itself, the City, the local School District and other taxing
authorities. Such taxes become a lien on January 1 and are recorded as receivables by the City at that
date. Real property taxes are payable (by property owners) on May 15 and October 15 of each
calendar year. Personal property taxes are payable by taxpayers on February 28 and June 30 of each
year. These taxes are collected by the County and remitted to the City on or before July 7 and
December 2 of the same year. Delinquent collections for November and December are received the
following January. The City has no ability to enforce payment of property taxes by property owners.
The County possesses this authority.
44
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2011
GOVERNMENT -WIDE FINANCIAL STATEMENTS
The City recognizes property tax revenue in the period for which the taxes were levied. Uncollectible
property taxes are not material and have not been reported.
GOVERNMENTAL FUND FINANCIAL STATEMENTS
The City recognizes property tax revenue when it becomes both measurable and available to finance
expenditures of the current period. In practice, current and delinquent taxes and State credits received
by the City in July, December and January are recognized as revenue for the current year. Taxes
collected by the County by December 31 (remitted to the City the following January) and taxes and
credits not received at year end are classified as delinquent and due from County taxes receivable. The
portion of delinquent taxes not collected by the City in January is fully offset by deferred revenue
because they are not available to finance current expenditures.
I. SPECIAL ASSESSMENT REVENUE RECOGNITION
Special assessments are levied against benefited properties for the cost or a portion of the cost of
special assessment improvement projects in accordance with State Statutes. These assessments are
collectible by the City over a term of years usually consistent with the term of the related bond issue.
Collection of annual installments (including interest) is handled by the County Auditor in the same
manner as property taxes. Property owners are allowed to (and often do) prepay future installments
without interest or prepayment penalties.
Once a special assessment roll is adopted, the amount attributed to each parcel is a lien upon that
property until full payment is made or the amount is determined to be excessive by the City Council or
court action. If special assessments are allowed to go delinquent, the property is subject to tax forfeit
sale. Proceeds of sales from tax forfeit properties are allocated first to the County's costs of
administering all tax forfeit properties. Pursuant to State Statutes, a property shall be subject to a tax
forfeit sale after three years unless it is homesteaded, agricultural or seasonal recreational land in
which event the property is subject to such sale after five years.
GOVERNMENT -WIDE FINANCIAL STATEMENTS
The City recognizes special assessment revenue in the period that the assessment roll was adopted by
the City Council. Uncollectible special assessments are not material and have not been reported.
GOVERNMENTAL FUND FINANCIAL STATEMENTS
Revenue from special assessments is recognized by the City when it becomes measurable and
available to finance expenditures of the current fiscal period. In practice, current and delinquent
special assessments received by the City are recognized as revenue for the current year. Special
assessments that are collected by the County by December 31 (remitted to the City the following
January) are also recognized as revenue for the current year. All remaining delinquent, deferred and
special deferred assessments receivable in governmental funds are completely offset by deferred
revenues.
45
L.
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2011
J. INVENTORIES
GOVERNMENTALFUNDS
The original cost of materials and supplies has been recorded as expenditures at the time of purchase.
These funds do not maintain material amounts of inventories.
PROPRIETARY FUNDS
Inventories of the Proprietary Funds are stated at weighted average cost, which approximates market,
using the first -in, first -out (FIFO) method.
K. PREPAID ITEMS
Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as
prepaid items in both government -wide and fund financial statements. Prepaid items are reported
using the consumption method and recorded as expenditures/expenses at the time of consumption.
L. CAPITAL ASSETS
Capital assets, which include property, plant, equipment and infrastructure assets (e.g., roads, bridges,
sidewalks, and similar items) and intangible assets such as easements and computer software, are
reported in the applicable governmental or business -type activities columns in the government -wide
financial statements. Capital assets are defined by the City as assets with an initial, individual cost of
more than $5,000 (amount not rounded) and an estimated useful life in excess of one year. Such assets
are recorded at historical cost or estimated historical cost if purchased or constructed. Donated capital
assets are recorded at estimated fair market value at the date of donation.
Pursuant to GASB Statement 34, in the case of the initial capitalization of general infrastructure assets
(i.e., those reported by governmental activities), the City chose to capitalize retroactively to 1980.
These assets are reported at estimated historical cost. The City estimated historical cost for the initial
reporting of these assets through analysis of original bonding documents. As the City constructs or
acquires additional infrastructure assets each period, they will be capitalized and reported at historical
cost.
The costs of normal maintenance and repairs that do not add to the value of the asset or materially
extend assets lives are not capitalized.
Major outlays for capital assets and improvements are capitalized as projects are constructed. Interest
incurred during the construction phase of capital assets of business -type activities is included as part of
the capitalized value of the assets constructed. For the year ended December 31, 2011, no interest was
capitalized in connection with construction in progress.
The City implemented GASB Statement No. 51, Accounting and Financial Reporting.for Intangible
Assets effective January 1, 2010 which required the City to capitalize and amortize intangible assets.
Pursuant to GASB Statement 51, in the case of initial capitalization of intangible assets, the City chose
to include such items regardless of their acquisition date, except for permanent easements and
internally generate software. The City has already accounted for computer software and temporary
easements at historical cost and therefore retroactive reporting was not necessary.
46
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2011
Property, plant and equipment of the primary government, as well as the component units, are
depreciated/amortized, using the straight-line method over the following estimated useful lives:
Assets
Buildings and structures 5 — 40 years
Furniture, fixtures and equipment (including software) 3 — 20 years
Distribution and collection systems 20 — 50 years
Streets 20 — 50 years
Storm sewers 25 years
M. COMPENSATED ABSENCES
It is the City's policy to permit employees to accumulate earned but unused personal leave benefits. All
personal leave pay is accrued when incurred in the government -wide and proprietary fund financial
statements. A liability for these amounts associated with governmental fund employees is reported in
the Internal Service Severance Fund. In accordance with the provisions of Statement of Government
Accounting Standards No. 16, Accounting for Compensated Absences, no liability is recorded for
nonvesting accumulating rights to receive personal leave benefits. However, a liability is recognized
for that portion of accumulating personal leave benefits that is vested as severance pay.
N. LONG-TERM OBLIGATIONS
In the government -wide financial statements and proprietary funds in the fund financial statements,
long-term debt and other long -tern obligations are reported as liabilities in the applicable
governmental activities, business -type activities, or proprietary funds statement of net assets. Bond
premiums and discounts, as well as issuance costs, are deferred and amortized over the life of the
bonds. Bonds payable are reported net of the applicable bond premium discount. Bond issuance costs
are reported as deferred charges.
In the governmental fund financial statements, governmental funds recognize bond premiums and
discounts, as well as bond issuance costs, during the current period. The face amount of debt issued is
reported as other financing sources. Premiums received on debt issuances are reported as other
financing sources while discounts on debt issuances are reported as other financing uses. Issuance
costs, whether or not withheld from the actual debt proceeds received, are reported as debt service
expenditures.
L 47
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2011
O. FUND BALANCE CLASSIFICATIONS
In the fund financial statements, governmental funds report fund balance in classifications that disclose
constraints for which amounts in those funds can be spent. These classifications are as follows:
Nonspendable - consists of amounts that are not in spendable form, such as prepaid items
Restricted - consists of amounts related to externally imposed constraints established by creditors,
grantors or contributors; or constraints imposed by state statutory provisions.
Committed - consists of internally imposed constraints. These constraints are established by
Resolution of the City Council.
Assigned - consists of internally imposed constraints. These constraints reflect the specific
purpose for which it is the City's intended use. These constraints are established by the City
Council and/or management. Pursuant to City Council Policy, the City's Finance Director and/or
City Manager are authorized to establish assignments of fund balance.
Unassigned - is the residual classification for the general fund and also reflects negative residual
amounts in other funds.
When both restricted and unrestricted resources are available for use, it is the City's policy to first use
restricted resources, and then use unrestricted resources as they are needed.
When committed, assigned or unassigned resources are available for use, it is the City's policy to use
resources in the following order; 1) committed 2) assigned and 3) unassigned.
P. INTERFUND TRANSACTIONS
Interfund services provided and used are accounted for as revenues, expenditures or expenses.
Transactions that constitute reimbursements to a fund for expenditures/expenses initially made from it
that are properly applicable to another fund, are recorded as expenditures/expenses in the reimbursing
fund and as reductions of expenditures/expenses in the fund that is reimbursed. Interfund loans are
reported as an interfund loan receivable or payable which offsets the movement of cash between
funds. All other interfund transactions are reported as transfers.
Q. USE OF ESTIMATES
The preparation of financial statements in accordance with generally accepted accounting principles
(GAAP) requires management to make estimates that affect amounts reported in the financial
statements during the reporting period. Actual results could differ from such estimates.
R. RECLASSIFICATIONS
Certain amounts presented in the prior year data has been reclassified in order to be consistent with the
current year's presentation.
E"
L.
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2011
S. COMPARATIVE TOTALS
The basic financial statements, required supplementary information, combining and individual fund
financial statements and schedules and supplementary financial information include certain prior -year
summarized comparative information in total but not at the level of detail required for a presentation in
conformity with generally accepted accounting principles. Accordingly, such information should be
read in conjunction with the City's financial statements for the year ended December 31, 2011, from
which the summarized information was derived.
T. RECONCILIATION OF GOVERNMENT -WIDE AND FUND FINANCIAL STATEMENTS
1. EXPLANATION OF CERTAIN DIFFERENCES BETWEEN THE GOVERNMENTAL FUND
BALANCE SHEET AND THE GOVERNMENT -WIDE STATEMENT OF NET ASSETS
The governmental fund balance sheet includes a reconciliation between fund balance — total
governmental funds and net assets —governmental activities as reported in the government -wide
statement of net assets. One element of that reconciliation explains that "long-term liabilities,
including bonds payable, are not due and payable in the current period and therefore are not
reported in the funds". The details of this ($34,750,964) difference is as follows:
Bonds payable ($34,225,000)
Accrued interest payable (561,819)
Unamortized bond discounts 2,569
Unamortized bond premium (238,599)
Deferred charges 480,529
Other post -employment benefits (208,644)
Net adjustment to reduce fund balance - total
governmental funds to arrive at net assets -
governmental activities. ($34,750,964)
49
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2011
2. EXPLANATION OF CERTAIN DIFFERENCES BETWEEN THE GOVERNMENTAL FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
AND THE GOVERNMENT -WIDE STATEMENT OF ACTIVITIES
The governmental fund statement of revenues, expenditures and changes in fund balances
includes a reconciliation between net changes in fund balances — total governmental funds and
changes in net assets ofgovernmental activities as reported in the government -wide statement of
activities. One element of that reconciliation explains that "governmental funds report capital
outlays as expenditures. However, in the statement of activities the cost of those assets is
allocated over their estimated useful lives and reported as depreciation expense." The details of
this $755,975 difference is as follows:
Capital outlay
$277,224
Construction/acquisition costs
1,953,923
Current expenditures capitalized
1,406
Depreciation expense
(1,476,578)
Net adjustment to increase net changes in fund
balances - total governmental funds to arrive at
changes in net assets of governmental activities.
$755,975
Another element of that reconciliation states that "revenues in the statement of activities that do
not provide current financial resources are not reported as revenues in the funds". The details of
this ($28,166) difference is as follows:
General property taxes deferred revenue:
At December 31, 2010 ($83,316)
At December 31, 2011 78,886
Tax increment taxes deferred revenue:
At December 31, 2010 (23,981)
At December 31, 2011 61,874
Special assessments deferred revenue:
At December 31, 2010 (1,759,922)
At December 31, 2011 1,698,543
Due from other governmental units:
At December 31, 2010 (250)
At December 31, 2011 -
Net adjustments to decrease net changes in fund
balances - total governmental funds to arrive at
changes in net assets of governmental activities. ($28,166)
50
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2011
Another element of that reconciliation states that "the issuance of long-term debt (e.g., bonds,
leases) provides current financial resources to governmental funds, while the repayment of
principal of the long-term debt consumes the current financial resources of governmental funds".
Neither transaction, however, has any effect on net assets. The details of this ($1,184,327)
difference is as follows:
Debt issued or incurred
Issuance of general obligation bonds ($5,165,000)
Premium on issued bonds (105,598)
Principal repayments 4,150,000
Other post employment benefits (63,729)
Net adjustment to increase net changes in fund
balances - total governmental funds to arrive at
changes in net assets of governmental activities. ($1,184,327)
Another element of that reconciliation states that "some expenses reported in the statement of
activities do not require the use of current financial resources and, therefore, are not reported as
expenditures in governmental funds". The details of this $28,711 difference is as follows:
Amortization of issuance costs
($28,035)
Amortization of premiums, discounts
20,464
Accrued interest
(30,996)
Bond issuance costs
67,278
Net adjustment to increase net changes in fund
balances - total governmental funds to arrive at
changes in net assets of governmental activities. $28,711
Note 2 DEPOSITS AND INVESTMENTS
A. DEPOSITS
In accordance with Minnesota Statutes, the City maintains deposits at those depository banks
authorized by the City Council, all of which are members of the Federal Reserve System.
Minnesota Statutes require that all City deposits be protected by insurance, surety bond, or collateral.
The market value of collateral pledged must equal 110% of the deposits not covered by insurance or
bonds.
Minnesota Statutes require that securities pledged as collateral be held in safekeeping by the City
Treasurer or in a financial institution other than that furnishing the collateral. Authorized collateral
includes the following:
a) United States government treasury bills, treasury note and treasury bonds;
L 51
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2011
b) Issues of United States government agencies and instrumentalities as quoted by a recognized
industry quotation service available to the government entity;
c) General obligation securities of any state or local government with taxing powers which is rated
"A" or better by a national bond rating service, or revenue obligation securities of any state or
local government with taxing powers which is rated "AA" or better by a national bond rating
service;
d) General obligation securities of a local government with taxing powers may be pledged as
collateral against funds deposited by that same local government entity:
e) Irrevocable standby letters of credit issued by Federal Home Loan Banks to a municipality
accompanied by written evidence that the bank's public debt is rated "AA" or better by Moody's
Investors Service, Inc. or Standard & Poor's Corporation; and
f) Time deposits that are fully insured by any Federal agency.
Custodial Credit Risk — Deposits: Custodial credit risk is the risk that in the event of a bank failure,
the City's deposits may not be returned to it. State statutes require that insurance, surety bonds or
collateral protect all City deposits. The market value of collateral pledged must equal 110% of
deposits not covered by insurance or bonds. As of December 31, 2011, the bank balance of the City's
deposits was covered by federal depository insurance.
B. INVESTMENTS
Minnesota Statutes authorize the City to invest in the following:
a) Direct obligations or obligations guaranteed by the United States or its agencies, its
instrumentalities or organizations created by an act of congress, excluding mortgage-backed
securities defined as high risk.
b) Shares of investment companies registered under the Federal Investment Company Act of 1940
and whose only investments are in securities described in (a) above, general obligation tax-exempt
securities, or repurchase or reverse repurchase agreements.
c) State and local securities as follows:
1) any security which is a general obligation of any state or local government with taxing
powers which is rated "A" or better by a national bond rating service;
2) any security which is a revenue obligation of any state or local government with taxing
powers which is rated "AA" or better by a national bond rating service; and
3) a general obligation of the Minnesota Housing Finance Agency which is a moral obligation of
the State of Minnesota and is rated "A" or better by a national bond rating agency.
d) Bankers acceptances of United States banks.
e) Commercial paper issued by United States corporations or their Canadian subsidiaries, of the
highest quality, and maturing in 270 days or less.
52
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2011
f) Repurchase or reverse repurchase agreements with banks that are members of the Federal Reserve
System with capitalization exceeding $10,000,000; a primary reporting dealer in U.S. government
securities to the Federal Reserve Bank of New York; certain Minnesota securities broker-dealers;
or, a bank qualified as a depositor.
g) General obligation temporary bonds of the same governmental entity issued under section
429.091, subdivision 7; 469.178, subdivision 5; or 475.61, subdivision 6.
As of December 31, 2011, the City had the following investments and maturities:
Investment Maturities (in Years)
Fair Less Over
Investment Type Rating Value Than 1 1-5 6-10 10 Years
Federal Home Loan Mortgage Corp. AAA $100,203 $ - $ - $ - $100103
Federal National Mortgage Association AAA 400,631 - - - 400,631
REMIC NR 1,554 - - - 1,554
Money market NR 9,890,021 9,890,021 - - -
External investment pool -4M Fund NR 752,385 752,385 - - -
Brokered cenificatesofdeposit NR 1,039,417 183,189 486,186 370,042
Tota] $12,184,211 $10,825 595 $486,186 $370,042 $502,388
NR - Not Rated Total investments $12,184,211
Deposits 999,873
Petty cash 5,200
Total cash and investments 513,189,284
Following is a reconciliation of the City's cash and investment balances as of December 31, 2011:
Cash and investments $10,600,416
Cash and investments - fiduciary fund ($13,372)
Restricted cash and investments 2,164,079
Funds held in trust 438,161
$13,189,284
C. INVESTMENT RISKS
Custodial credit risk — investments — For investments in securities, custodial credit risk is the risk that
in the event of failure of the counterparty to a transaction, the City will not be able to recover the value
of its investment securities that are in the possession of an outside party. Investments in investment
pools and money markets are not evidenced by securities that exist in physical or book entry form, and
therefore are not subject to custodial credit risk disclosures. The City's investment policy does not
address custodial risk. However, investments in securities are held by the City's broker-dealers of
which $500,000 is insured through SIPC. The broker-dealer has provided additional protection by
providing additional insurance. This insurance is subject to aggregate limits applied to all of the
broker-dealers' accounts.
53
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2011
Interest rate risk — Interest rate risk is the risk that changes in interest rates of debt investments could
adversely affect the fair value of an investment. The City's investment policy requires the City to
diversify its investment portfolio to eliminate the risk of loss resulting from over concentration of
assets in a specific maturity. The policy also states the City's investment portfolio will remain
sufficiently liquid to enable the City to meet all operating requirements which might be reasonably
anticipated.
Credit Risk — Credit risk is the risk that an issuer or other counterparty to an investment will be unable
to fulfill its obligation to the holder of the investment. State law limits investments in commercial
paper to those rated in the highest quality category by at least two nationally recognized rating
agencies; in any security of the State of Minnesota or any of its municipalities which is rated "A" or
better by a national bond rating service for general obligation and rated "AA" or better for a revenue
obligation; a general obligation of the Minnesota Housing Finance Agency to those rated "A" or better
by a national bond rating agency; mutual funds or money market funds whose investments are
restricted to securities described in MS 118A.04. The City's investment policy does not place further
restrictions on investment options.
Concentration of credit risk — Concentration of credit risk is the risk of loss that may be attributed to
the magnitude of a government's investment in a single issuer. The City places no limit on the amount
the City may invest in any one issuer. The City does not have exposure to a single issuer that equals or
exceeds 5% of the overall portfolio and, therefore, there is no concentration of credit risk.
Note RECEIVABLES
Significant receivables balances not expected to be collected within one year of December 31, 2011 are as
follows:
Major Funds
Street Water
Improvement HRA HRA Filtration & Nonmajor
General Debt Service Debt Service Projects Purification Funds Total
Special assessments receivable $ - $1,027,000 $ - $ - $ - $500,000 $1,527,000
Delinquent property taxes 18,200 5,800 2,700 6,000 3,500 36,200
$18,200 $1,032,800 $2,700 $6,000 $0 $503,500 $1,563,200
54
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2011
Governmental funds report deferred revenue in connection with receivables for revenues that are not considered
to be available to liquidate liabilities of the current period. Governmental funds also defer revenue recognition
in connection with resources that have been received, but not yet earned. At the end of the current fiscal year,
the various components of deferred revenue and unearned revenue reported in the governmental funds were as
follows:
Delinquent property taxes receivable (General Fund)
Delinquent property taxes receivable (Street Improvement Debt Service)
Delinquent property taxes receivable (HRA Debt Service)
Delinquent property taxes receivable (Nonmajor Funds)
Delinquent TIF (HRA Projects Fund)
Special assessments not yet due (General Fund)
Special assessments not yet due (Street Improvement Debt Service)
Special assessments not yet due (Nonmajor Funds)
Total deferred/unearned revenue for governmental funds
55
Unavailable Unearned
$47,496
15,239
6,921
9,230
61,874
30
1,164,160
534,353
$1,839,303 $0
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2011
Note 4 CAPITAL ASSETS
Capital asset activity for the year ended December 31, 2011 was as follows:
Primary Government
Governmental activities:
Capital assets, not being depreciated:
Land
Construction in progress
Total capital assets, not being depreciated
Capital assets, being depreciated:
Buildings and improvements
Land improvement
Furniture, fixtures and equipment (including
software)
Streets
Storm sewers
Storm water
Total capital assets, being depreciated
Less accumulated depreciation/amortization for:
Buildings and improvements
Land improvement
Furniture, £octures and equipment
Software and intangibles
Streets
Stone sewers
Storm water
Total accumulated depreciation/amortization
Total capital assets being depreciated - net
Beginning Ending
Balance Increases Decrease Balance
$3,378,842 $ - $ - $3,378,842
8,534,183 1,955,326 (8,516,216) 1,973,293
11,913,025 1,955,326 (8,516,216) 5,352,135
9,829,307 7,629 - 9,836,936
874,059 - - 874,059
3,084,943 336,808 (51,505) 3,370,246
20,808,158 8,449,006 - 29,257,164
428,469 - - 428,469
1,468,902 1,468,902
36,493,838 8,793,443 (51,505) 45,235,776
2,568,924
295,783
- 2,864,707
19,492
43,925
- 63,417
1,983,852
221,335
(35,142) 2,170,045
-
6,476
- 6,476
5,982,947
833,164
- 6,816,111
36,161
17,139
- 53,300
63,653
58,756
- 122,409
10,655,029
1,476,578
(35,142) 12,096,465
25,838,809 7,316,865 (16,363) 33,139,311
Governmental activities capital assets - net $37,751,834 $9,272,191 $8 532 579 $38,491,446
56
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2011
Primary Government
Business -type activities:
Capital assets, not being depreciated:
Land
Capital assets, being depreciated:
Buildings and structures
Furniture, fixtures and equipment
Software and intangibles
Distribution and collection system
Total capital assets, being depreciated
Less accumulated depreciation for:
Buildings and structures
Furniture, fixtures and equipment
Software and intangibles
Distribution and collection system
Total accumulated depreciation
Total capital assets being depreciated -net
Business -type activities capital assets -net
Beginning Ending
Balance Increases Decrease Balance
$5,653 $ - $ - $5,653
3,883,283 - - 3,883,283
1,433,610 7,465 - 1,441,075
26,022 - - 26,022
6,797,401 6,797,401
12,140,316 7,465 0 12,147,781
1,576,865
102,887
- 1,679,752
558,769
59,830
- 618,599
434
5,204
- 5,638
3,268,996
173,216
- 3,442,212
5,405,064
341,137
0 5,746,201
6,735.252 (333,672) 0 6,401,580
$6,740,905 ($333,672) $0 56,407,233
Depreciation/amortization expense was charged to functions/programs of the primary government as follows:
Governmental activities:
General government
Public safety
Public works, including depreciation of general infrastructure assets
Parks and recreation
Total depreciation/amortization expense - governmental activities
Business -type activities:
Liquor
Water
Sewer
Total depreciation/amortization expense - business -type activities
Total depreciation expense
i
L
57
$117,691
182,720
1,084,498
91.669
1,476,578
85,062
166,923
89,151
341,136
$1,817,714
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2011
CONSTRUCTION COMMITMENTS
At December 31, 2011, the City had construction project contracts in progress. The commitments related
to the remaining contract balances are summarized as follows:
Contract Remaining
Project Amount Commitment
2011 Street Improvements $1,433,470 $69,164
Note 5 LONGTERM DEBT
The City issues general obligation bonds to finance its street improvement program, tax increment projects and
other City purposes. General obligation bonds are direct obligations of the City and are supported by the full
faith and credit of the City. The City has several types of general obligation bonds outstanding at December 31,
2011. Following is a brief description of the different bond types:
• Improvement bonds are issued to finance street improvement projects. These bonds are payable
primarily from special assessments levied on benefited properties. The costs of these projects are
shared by the City; general property taxes levied provide the revenues for these costs.
• Tax increment bonds were used to finance redevelopment projects and are payable primarily from
incremental property taxes derived from the tax increment districts with any deficiency to be provided
from general property taxes.
• Storm sewer revenue bonds used to finance storm water improvement projects are payable primarily
from service charges to residents.
• State aid street bonds were utilized for a street improvement project and will be paid from future state
aids received annually.
• Tax abatement bonds were issued to finance a portion of the park improvement project and are payable
from a special general property tax levy.
• Certificates of indebtedness issued to finance various equipment acquisitions are payable from a
special general property tax levy.
PUBLIC FACILITIES LEASE REVENUE BONDS
These bonds issued are being used to finance renovation of public works facilities and the construction of a
fire station/hall. These bonds were issued by the Housing and Redevelopment Authority and are payable
from annual transfers from the General Fund derived from a special general property tax levy. These
bonds are deemed a direct obligation of the City, although issued by the HRA, and are supported by the
full faith and credit of the City under a lease revenue indenture with the HRA.
REVENUE BONDS
The City has issued revenue bonds to finance business -type activities. These bonds are Liquor Revenue
and Utility Revenue Bonds which are payable from operations of these two Enterprise Funds, respectively.
The liability for these bonds is recorded in the Proprietary Funds.
W.
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2011
FANNIE MAE LOAN PAYABLE
The City entered into a non -revolving line of credit agreement with Fannie Mae. The line of credit was for
a total of $3,350,000; proceeds were used to fund the acquisition of property in the Apache Plaza area
related to the Silver Lake Village development. The City disbursed the funds to the developer who applied
the funds towards purchase of property and other costs associated with the redevelopment project. The
project is primarily for residential purposes. The loan was for a period of 36 months and was set to mature
on August 27, 2007; however, the City extended the loan period to January 3, 2011. Interest on the loan is
payable quarterly. The interest rate is variable based on the three month LIBOR (as published in the Wall
Street Journal) plus 175 basis points. In addition, the interest rate will be reset quarterly on the first day of
each calendar quarter. The City paid off this line of credit on January 3, 2011.
59
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2011
GOVERNMENTAL ACTIVITIES
As of December 31, 2011, the long-term debt of the financial reporting entity consisted of the following:
G.O. Improvement Bonds:
G.O. Improvement Bands, Series 2004A
G.O. Improvement Bonds, Series 2005A
G.O. Improvement Bonds, Series 2006A
G.O. Improvement Bonds, Series 2007A
G.O. Improvement Bonds, Series 2009A
G.O. Improvement Refunding Bonds, Series 2009B
G.O. Improvement Bonds, Series 2010A
G.O. Improvement Bonds, Series 2011A
G.O. Improvement Refunding Bonds, Series 201 IB
Total improvement bonds
G.O. Street Reconstruction Bonds:
G.O. Street Reconstruction Bonds, Series 2008A
G.O. Tax Increment Bonds:
G.O. Taxable Tax Increment Refunding Bends, Series 2003E
Tax Increment Revenue Bonds:
Tax Increment Revenue Bonds, Series 2006B
Tax Increment Revenue Bonds, Series 2007
Total tax increment revenue bonds
G.O. Revenue Bonds:
G.O. Stam Sewer Refunding Revenue Bonds, Series 2009A
G.O. Tax Abatement Bonds:
G.O. Tax Abatement Binds, Series 2009A
G.O. Tax Abatement Refunding Bonds, Series 2009B
Total tax abatement bonds
G.O. State Aid Bonds
G. O. State Aid Street Refunding Bonds, Series 2009A
Public Facilities Lease Revenue Bonds:
Public Facilities Lease Revenue Bonds, Series 2003
Issuance premiums (discounts)
Total - bonded indebtedness
Conpensated absences payable
Total City indebtedness - goverrvnental activities
Final
Interest Issue Maturity Original Payable
Rates Date Date Issue 1221/11
2.00-4.60% 6/12004 2/1/2012 $1,790,000 $1,150,000
2.70-4.15% 4/12005 2/1/2012 1,695,000 1,225,000
4.00% 4/12006 2/1/2022 3,190,000 2,335,000
3.50-4.10°/ 4242007 2/1/2014 2,050,000 1,735,000
3.00-4.00% 5/72009 2/1/2025 2,630,000 2,490,000
2.50-3.00% 12/162009 2/1/2018 1,335,000 1,170,000
2.25-3.625% 5202010 2/1/2026 1,375,000 1,375,000
3.00-4.001/6 4/122011 2/1/2027 2,955,000 2,955,000
0.40-2.00% 12292011 2/1/2021 2,210,000 2,210,000
19,230,000 16,645,000
3.00-4.00% 6/52008 2/1/2024 1,910,000 1,710,000
3.00-5.00% 11/52003 2/1/2013 1,170,000 370,000
5.00-5.62% 8/12006 8/1/2031 4,975,000 4,600,000
4.30-5.00% 4/172007 2/1/2031 4,640,000 4,375,000
9,615,000 8,975,000
3.004.009/6 5/72009 2/1/2015 825,000 565,000
3.00-4-00% 5/72009 2/1/2025 1,335,000 1,335,000
2.50-3.00% 12/102009 2/1/2016 310,000 265,000
1,645,000 1,600,000
3.00-4.00% 5/72009 2/1/2015 385,000 250,000
2.00-4.15% 4/12003 2/1/2013 5,530,000 4,110,000
N/A 236.030
40,310,000 34,461,030
703,122
$40,310,000 $35.164,152
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2011
BUSINESS -TYPE ACTIVITIES
Revenue Bonds:
1 G.O. Water and Sewer Revenue Bonds, Series 2003B
Compensated absences
Total City indebtedness - business -type activities
i
Total City indebtedness
Final
G.O. Improvement Bonds
G.O. Tax Increment Bonds
Interest Maturity
Original
Payable
Rates Date Date
Issue
12/31/11
2.004.45% 4/162003 2/12024
$2,200,000
$1,640,000
-
143,422
$6,950,000
2,200,000
1,783,422
$13,865
$42,510,000
$36,947,574
Annual debt service requirements to maturity for long-term debt are as follows:
I Governmental Activities
Year Ending
G.O. Improvement Bonds
G.O. Tax Increment Bonds
G.O. Revenue
Bonds
December 31
Principal
Interest
Principal
Interest
Principal
Interest
2012
$6,950,000
$417,656
$180,000
$13,865
$135,000
$14,925
2013
865,000
254,964
190,000
4,750
135,000
10,875
2014
890,000
236,465
-
-
145,000
6,675
2015
905,000
216,995
-
-
150,000
2,250
2016
920,000
196,530
-
-
-
-
2017
935,000
174,795
-
-
-
-
2018
880,000
152,534
-
-
-
-
2019
800,000
130,862
-
-
-
-
2020
675,000
111,090
-
-
-
-
2021
550,000
93,608
-
-
-
-
2022
435,000
77,479
-
-
-
-
2023
455,000
61,426
-
-
-
-
2024
470,000
44,244
-
-
-
-
2025
485,000
26,061
-
-
-
-
2026
270,000
11,584
-
-
-
-
2027
160,000
3,200
-
-
-
-
Total
$16,645,000
$2,209,493
$370,000
$18,615
$565,000
$34,725
61
L.
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2011
Governmental Activities
Tax Increment All Other General
Year Ending Revenue Bonds Lease Revenue Bonds Obligation Bonds
December 31 Principal Interest Principal Interest Principal Interest
2012
$205,000
$465,268 $4,110,000
$76,155 $290,000
$121,020
2013
225,000
455,080 -
- 295,000
112,233
2014
245,000
443,743 -
- 300,000
103,164
2015
260,000
431,549 -
- 310,000
93,726
2016
280,000
418,368 -
- 260,000
84,564
2017
300,000
403,790 -
- 215,000
76,351
2018
330,000
387,949 -
- 220,000
68,551
2019
350,000
370,568 -
- 230,000
60,381
2020
385,000
351,903 -
- 240,000
51,661
2021
405,000
331,684 -
- 250,000
42,371
2022
440,000
310,039 -
- 265,000
32,419
2023
470,000
286,157 -
- 275,000
21,828
2024
500,000
260,437 -
- 285,000
10,700
2025
535,000
233,125 -
- 125,000
2,500
2026
575,000
203,938 -
- -
-
2027
615,000
172,453 -
- -
-
2028
655,000
138,828 -
- -
-
2029
700,000
103,079 -
- -
-
2030
745,000
64,906 -
- -
-
2031
755,000
19,547
Total
$8,975,000
$5,852,408 $4,117000
$76,155 $3,560,000
$881,469
"'Interest rate is reset quarterly on the first day of each calendar quarter (January 1, April 1, July 1 and October 1)
Business -Type Activities
Year Ending Revenue Bonds
December 31 Principal Interest
2012
$95,000
$66,122
2013
95,000
62,703
2014
100,000
59,094
2015
105,000
55,197
2016
110,000
51,031
2017
120,000
46,411
2018
125,000
41,358
2019
130,000
36,018
2020
135,000
30,386
2021
145,000
24,364
2022
150,000
17,948
2023
160,000
11,125
2024
170,000
3,782
Total
$1,640,000
$505,539
It is not practicable to determine the specific year for payment of long-term accrued compensated absences.
62
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2011
CHANGE IN LONG-TERM LIABILITIES
Long-term liability activity for the year ended December 31, 2011, was as follows:
Governmental activities:
Bonds payable:
G.O. improvement debt
G.O. street reconstruction bonds
G.O. tax increment bonds
G.O. revenue bonds
G.O. state aid street bonds
G.O. tax abatement bonds
Tax increment revenue bonds
G.O. public facilities lease revenue bonds
Total bonds payable - governmental activities
Issuance premiums (discounts)
Total bonded indebtedness
Fannie Mae loanpayable
Compensated absences
Total govemmental activities
long-term liabilities
Business -type activities:
Revenue bonds
Compensated absences
Total business -type activities
long-term liabilities
Beginning
Ending
Due Within
Balance
Additions
Reductions
Balance
One Year
$13,450,000
$5,165,000
($1,970,000)
$16,645,000
$6,950,000
1,810,000
-
(100,000)
1,710,000
105,000
545,000
-
(175,000)
370,000
180,000
695,000
-
(130,000)
565,000
135,000
315,000
-
(65,000)
250,000
65,000
1,645,000
-
(45,000)
1,600,000
120,000
9,165,000
-
(190,000)
8,975,000
205,000
4,335,000
(225,000)
4,110,000
4,110,000
31,960,000
5,165,000
(2,900,000)
34,225,000
11,870,000
150,896
105,598
(20,464)
236,030
23,711
32,110,896
5,270,598
(2,920,464)
34,461,030
11,893,711
1,250,000
-
(1,250,000)
-
-
691,339
321,879
(310,096)
703,122
235,895
$34,052,235 $5,592,477 ($4,480360) $35,164,152 $12,129,606
$1,825,000 $ - ($185,000) $1,640,000 $95,000
146,140 74,162 (76,880) 143,422 58,295
$1,971,140$74,162 ($261,880) $1,783,422 $153,295
For the governmental activities, compensated absences are generally liquidated by the Internal Service
Severance Fund and loans payable are generally liquidated by the Street Improvement Projects Fund.
All long-term bonded indebtedness outstanding at December 31, 2011 is backed by the full faith and credit
of the City, including improvement and revenue bond issues, except for the Public Facilities Lease
Revenue Bonds of 2003 and the Tax Increment Bonds of 2006B and 2007. Delinquent assessments
receivable at December 31, 2011 totaled $9,000.
L
63
L
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2011
PLEDGED REVENUE
Future revenue pledged for the payment of long-term debt is as follows:
G1H
Revue PIM
C—D
Ya
P., of
Debl arsda
Rinaipal
and xi
Rm¢ninB
U..I
ToW
na%of
T—a
Rmaipal
andlnmm-
Reumm
Boa 1—
Pmadls
D. B¢Na
Nn Rexnu¢
PIMD,
and M¢¢I
Nid
R—wed
2009A Sism Aid S nxi ReNang
Refimdi,d20(d;&m Aid
MSA ilMmnls
10tH.
WA
20093015
464,700
$]3.4]5
57A966
S. Wb
2009ATu Alntnml
Ea ddPakiq —15
Tax absbnemswmue
I00%
N/A
2009-2025
(1.]06994
345552
$31,N5
2009B Tax Axdmml Re6laog
R di, d2031ATu
Taalepmml rtvmue
IM%
N/A
2D05I3016
V81938
$52,188
424388
Pbaimml Bonds
2003A Rad hp—D.
9rsl in oven 02003
Spinel—D,
21%
N/A
2003-2019
S -
ELI66.106
532536
20NA ROM MpawmmbSrt¢i0pmta
anw
Sp¢el—x
23%
N/A
20%3020
$1,174,439
$160,938
$22692
2005A Rind Mpmrcmmb
Sirt¢ad Ywm anrte
Sda,W snmis
23%
NIA
2005-2021
51,248,719
$149,063
524391
inpm.snen6 d2035
20WA Rand fnp—I,
Bmeand 9onn.r
Spmblac ,—.
40%
N/A
2006-2022
$1,626.900
5176,000
N0510
2007A Rmd fnpm ens
SL¢e and
5pwhlnsa D3
29M
WA
260/-2023
$1,768240
(1]8.460
55,0544
2009A ROM Mpswemmb
2009.dmvnhcdan
Spm.lummsmuia
21%
N/A
2003-2025
$3,172001
$226A18
51%601
2010A Rwtl fnpmv¢nens
2010 and rowmgiad
Spmbinssanmis
9%
WA
20103026
51,731,249
548}29
SQ4M
2009R ROM Nproammla
Rebindn, d201B and 202A
Spmelammsmms
]%
N/A
200930/8
51,273513
5197$.8
532d3M
RPOInd4
Rud hnPwrnm Bond:
2008A SOmI Rwvnam¢im
Bolls
&I—Wa Redd
mpmsvnms
Tu lex,
98%
N/A
20N-2024
52,189,838
$167300
$In3]4
2009A&onn!I m
ReNndngs Revenue
Fx6.di, oI N0A S.
!I—Revenue
Nldiryehsg¢
100%
N/A
20093015
499,725
f148,YN'
SINN
2003ETW
Ref di,, d 1996 rF bads,
TIF
100%
N/A
20083013
WaU15
519].169
526414
mdmebpm of Supes Valu
2 NBlIF
RMevelrymmldp Rt
nF
100%
N/A
20W2031
$],]46$84
$351,675
$1,215,240
emm 03 and TIF3-5
2007TW
Rxd ed'mml
TIF
IM
WA
20073031
57,080,824
(312.]46
5312745
2003 Lmse Revenm
Mw,, wine¢] and 6miA
Lmertsmue
ID0%
WA
2W 2024
$5159.945
$390,685
W00.987
public wwFa and RD, MI,
20038 GO. WaedSexn
Wat—d sewer unlRy
C%rya fmswa¢
160%
T3%
2.-2024
$2,145139
3158A64
5158060
xwma
:npmwnms
2011A Rad fnp�dnd
Dxhnd D, W03A Ss¢I
Sp¢biximmsmems
22%
WA
2011.2026
1,154)23
-
32d3.8
RePondr,
Lrymwnml Bonds
20118 Rmd In,.—Ds
xefundia MWAend 2005A
Sp¢bl
25%
N/A
20122020
2.362p+1
32439
Refund..
&.hn —I RONs
G1H
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2011
CURRENT REFUNDING
A. 2011A
On April 12, 2011, the City issued the $1,015,000 General Obligation Refunding Bonds, Series 2011A
with an average interest rate of 3.5% to refund the 2012 through 2019 maturities aggregating
$1,030,000 in principal amount of the City's $1,700,000 General Obligation Improvement Bonds,
Series 2003A with an average interest rate of 3.8%, dated April 16, 2003. Net proceeds of $1,039,974
were used to retire all outstanding principal of the refunded bonds on May 11, 2011.
The City refunded the bonds to reduce its total debt service payments over the eight years by $63,644
and to obtain an economic gain (difference between the present value of the debt service payments on
the old and new debt) of $30,185.
B. 2011B
On December 29, 2011, the City issued the $2,210,000 General Obligation Refunding Bonds, Series
2011B with an average interest rate of 1.4% to refund the 2013 through 2020 maturities aggregating
$1,035,000 in principal amount of the City's $1,790,000 General Obligation Improvement Bonds,
Series 2004A with an average interest rate of 4.3%, dated June 1, 2004 and to refund the 2013 through
2021 maturities aggregating $1,125,000 in principal amount of the City's $1,695,000 General
Obligation Improvement Bonds, Series 2005A with an average interest rate of 3.9%, dated April 1,
2005. Net proceeds of $2,164,079 were used to retire all outstanding principal of the refunded bonds
on February 1, 2012.
The City refunded the bonds to reduce its total debt service payments over the nine years by $250,696
and to obtain an economic gain (difference between the present value of the debt service payments on
the old and new debt) of $231,455.
Note 6 DEFINED BENEFIT PENSION PLANS - STATEWIDE
A. PLAN DESCRIPTION
All full-time and certain part-time employees of the City are covered by defined benefit plans administered
by the Public Employees Retirement Association of Minnesota (PERA). PERA administers the General
Employees Retirement Fund (GERF) and the Public Employees Police and Fire Fund (PEPFF) which are
cost-sharing, multiple -employer retirement plans. These plans are established and administered in
accordance with Minnesota Statutes, Chapters 353 and 356.
GERF members belong to either the Coordinated Plan or the Basic Plan. Coordinated Plan members are
covered by Social Security and Basic Plan members are not. All new members must participate in the
Coordinated Plan. All police officers, firefighters and peace officers who qualify for membership by
statute are covered by the PEPFF.
PERA provides retirement benefits as well as disability benefits to members, and benefits to survivors
upon death of eligible members. Benefits are established by State Statute, and vest after three years of
credited service. The defined retirement benefits are based on a member's highest average salary for any
five successive years of allowable service, age, and years of credit at termination of service.
M
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2011
The benefit provisions stated in the previous paragraphs of this section are current provisions and
apply to active plan participants. Vested, terminated employees who are entitled to benefits but are not
receiving them yet are bound by the provisions in effect at the time they last terminated their public
service.
PERA issues a publicly available financial report that includes financial statements and required
supplementary information for GERF and PEPFF. That report may be obtained on the internet at
www.mnnera.ore, by writing to PERA, 60 Empire Drive #1200, St. Paul, Minnesota, 55103-2088 or by
calling (651) 296-7460 or 1-800-652-9026.
B. FUNDING POLICY
Minnesota Statutes Chapter 353 sets the rates for employer and employee contributions. These
statutes are established and amended by the state legislature. The City makes annual contributions to
the pension plans equal to the amount required by state statutes. GERF Basic Plan members and
Coordinated Plan members were required to contribute 9.1 % and 6.25%, respectively, of their annual
covered salary in 2011. PEPFF members were required to contribute 9.6% of their annual covered
salary in 2011. The City was required to contribute the following percentages of annual covered
payroll in 2011: 11.78% for Basic Plan GERF members, 7.25% for Coordinated Plan GERF
members, and 14.4% for PEPFF members. The City's contributions to the General Employees
Retirement Fund for the years ending December 31, 2011, 2010 and 2009 were $131,203, $124,160
and $115,915, respectively. The City's contributions to the Public Employees Police and Fire Fund
for the years ending December 31, 2011, 2010 and 2009 were $332,497, $321,035 and $315,447,
respectively. The City's contributions were equal to the contractually required contributions for each
year as set by state statute.
C. PUBLIC EMPLOYEES RETIREMENT ASSOCIATION (PERA) - DEFINED
CONTRIBUTION
PLAN DESCRIPTION
All council members of the City are covered by the Public Employees Defined Contribution Plan
(PEDCP), a multiple -employer deferred compensation plan administered by the Public Employees
Retirement Association of Minnesota (PERA). The PEDCP is a tax qualified plan under Section
401(a) of the Internal Revenue Code and all contributions by or on behalf of employees are tax
deferred until time of withdrawal.
Benefit Provisions and Contribution Rates
Plan benefits depend solely on amounts contributed to the plan plus investment earnings, less
administrative expenses. Minnesota Statutes, Chapter 353D.03, specifies plan provisions, including
the employee and employer contribution rates for those qualified personnel who elect to participate.
Plan provisions are established and can be amended by State Statutes. An eligible elected official who
decides to participate contributes 5 percent of salary which is matched by the elected official's
employer. Employer and employee contributions are combined and used to purchase shares in one or
more of the seven accounts of the Minnesota Supplemental Investment Fund. For administering the
plan, PERA receives 2 percent of employer contributions and twenty-five hundredths of one percent of
the assets in each member's account annually.
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2011
Plan benefits depend solely on amounts contributed to the plan plus investment earnings, less
administrative expenses.
Total contributions made by the City during fiscal year 2011 were:
Percentage of
Amount Covered Payroll Required
Employees Employer Employees Employer Rates
PEDCP $1,613 $1,613 5.00% 5.00% 5.00%
D. SINGLE EMPLOYER PERS
PLAN DESCRIPTION — ST. ANTHONY FIREFIGHTER'S RELIEF ASSOCIATION
All members of the St. Anthony Fire Department are covered by a defined benefit plan administered
by the St. Anthony Firefighter's Relief Association. The Plan is a single employer retirement plan and
is established and administered in accordance with Minnesota Statute, Chapter 69.
The Relief Association provides retirement benefits as well as disability benefits to members and
benefits to survivors upon death of eligible members. Benefits are established in accordance with the
State Statute and vest after ten years of credited service. The defined retirement benefits are based on
a member's years of service. Benefit provisions can be amended by the Relief Association within the
parameters provided by State Statutes.
The Relief Association issues a publicly available financial report that includes financial statements
and required supplementary information. That report may be obtained by writing to St. Anthony
Firefighter's Relief Association, 3505 Silver Lake Road, St. Anthony, Minnesota, 55418.
67
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2011
FUNDING POLICY
Minnesota Statutes Chapter 69.772 sets the minimum contribution requirement for the City and State
aid on an annual basis. These statutes are established and amended by the state legislature. The Relief
Association is comprised of volunteers; therefore, members have no contribution requirements. The
City receives the State aid contribution and is required by state statutes to pass this through as payment
to the Relief Association. This transaction, in the amount of $32,574, is recorded as a revenue and an
expenditure in the City's 2011 financial statements. The City's annual pension cost for 2010 (2011 is
unavailable) and related information for the plan is as follows:
Annual pension cost $40,415
Contributions made:
City $6,000
State aid $34,415
Actuarial valuation date 12/31/10
Actuarial cost method Entry age normal
Amortization method Level dollar closed
Remaining amortization period:
Normal cost 20 years
Prior service cost 5 years
Asset valuation method Market
Actuarial assumptions
Investment rate of return
5%
Projected salary increases
N/A
Inflation rate
N/A
Cost of living adjustments
None
Age of service requirements
50
Post-retirement benefits increase
None
M
r
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2011
Three year trend information (information for December 31, 2011 is not available):
Three Year Trend Information
Annual
Year Pension
Ending Cost (APC)
12/31/2010 $40,415
12/31/2009 38,411
12/31/2008 44,755
Percentage Net
of APC Pension
Contributed Obligation
100% $
100%
100%
REQUIRED SUPPLEMENTARY INFORMATION — SCHEDULE OF FUNDING PROGRESS
Note 7 OTHER POST -EMPLOYMENT BENEFITS (OPEB)
In 2009, the City prospectively implemented the requirement of a new accounting pronouncement, GASB
Statement No. 45, Accounting and Financial Reporting by Employers for Post -employment Benefits Other
Than Pensions.
A. PLAN DESCRIPTION
In addition to providing the pension benefits described in Note 6, the City provides post -employment
health care benefits (as defined in paragraph B) for retired employees and police and firefighters
disabled in the line of duty, through a single -employer defined benefit plan. The term Plan refers to
the City's requirement by State Statute to provide retirees with access to health insurance. The OPEB
plan is administered by the City. The authority to provide these benefits is established in Minnesota
Statutes Sections 471.61 Subd. 2a, and 299A.465. The benefits, benefit levels, employee contributions
and employer contributions are governed by the City and can be amended by the City through its
personnel manual and collective bargaining agreements with employee groups. The Plan is not
accounted for as a trust fund, as an irrevocable trust has not been established to account for the plan.
The Plan does not issue a separate report.
Assets in
Excess of
Pension
Actuarial
Actuarial
Actuarial
(Unfunded)
Benefit
Valuation
Value of
Accmed
Accrued
Funded
Per Year
Date
Assets
Liability
Liability
Ratio
of Service
12/312010
$984,659
$862,804
$121,855
114.12%
$2,500
12/312009
872,655
816,512
56,143
106.88%
2,500
12/312008
735,213
866,712
(131,499)
84.83%
2,500
Note 7 OTHER POST -EMPLOYMENT BENEFITS (OPEB)
In 2009, the City prospectively implemented the requirement of a new accounting pronouncement, GASB
Statement No. 45, Accounting and Financial Reporting by Employers for Post -employment Benefits Other
Than Pensions.
A. PLAN DESCRIPTION
In addition to providing the pension benefits described in Note 6, the City provides post -employment
health care benefits (as defined in paragraph B) for retired employees and police and firefighters
disabled in the line of duty, through a single -employer defined benefit plan. The term Plan refers to
the City's requirement by State Statute to provide retirees with access to health insurance. The OPEB
plan is administered by the City. The authority to provide these benefits is established in Minnesota
Statutes Sections 471.61 Subd. 2a, and 299A.465. The benefits, benefit levels, employee contributions
and employer contributions are governed by the City and can be amended by the City through its
personnel manual and collective bargaining agreements with employee groups. The Plan is not
accounted for as a trust fund, as an irrevocable trust has not been established to account for the plan.
The Plan does not issue a separate report.
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2011
B. BENEFITS PROVIDED
Retirees
The City is required by State Statute to allow retirees to continue participation in the City's group
health insurance plan if the individual terminates service with the City through service retirement or
disability retirement. To be eligible for benefits, an employee must qualify for retirement or disability
benefits from a Minnesota public pension plan. The employee may continue to participate in the
City's group health insurance plan that the employee was a participant of immediately prior to
retirement. Employees may obtain dependent coverage at retirement only if the employee was
receiving dependent coverage immediately prior to retirement. Covered spouses may continue
coverage after the retiree's death. The surviving spouse of an active employee may continue coverage
in the group health insurance plan after the employee's death.
All health care coverage is provided through the City's group health insurance plans. The retiree is
required to pay 100% of their premium cost for the City -sponsored group health insurance plan in
which they participate. The premium is a blended rate determined on the entire active and retiree
population. Since the projected claims costs for retirees exceed the blended premium paid by retirees,
the retirees are receiving an implicit rate subsidy (benefit). The coverage levels are the same as those
afforded to active employees. Upon a retiree reaching age 65 years of age, Medicare becomes the
primary insurer and the City's plan becomes secondary.
Disabled police and firefighter
The City continues to pay the employer's contribution toward health coverage for Police or
Firefighters disabled in the line of duty per Minnesota Statute 299A.465, until age 65. Coverage for a
spouse is included, if the spouse was covered at the time of the disability. The January 1, 2011
through December 31, 2011 monthly premiums paid for Police or Firefighters disabled in the line of
duty are:
Employee
Employee Plus Spouse
Open Access
$734
$1,562
Distinctions IEI
684
1,459
$1,200 deductible plan HSA
514
1,096
3 for Free Plan
484
1,032
70
L
I
L
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2011
C. PARTICIPANTS
As of the actuarial valuation dated January 1, 2010, participants consisted of:
Retirees and beneficiaries currently
purchasing health insurance through the City 3
Disabled police and firefighters
Active employees 58
Total 62
Participating employers 1
D. FUNDING POLICY
The additional cost of using a blended rate for actives and retirees is currently funded on a pay-as-you-
go basis. The City Council may change the funding policy at any time.
E. ANNUAL OPEB COSTS AND NET OPEB OBLIGATION
The City's annual other post employment benefit (OPEB) cost is calculated based on the annual
required contribution (ARC) of the employer, an amount actuarially determined in accordance with the
parameters of GASB Statement No. 45. The ARC represents a level of funding that, if paid on an
ongoing basis, is projected to cover normal cost each year and amortize any unfunded actuarial
liabilities (or funding excess) over a period not to exceed 30 years. The net OPEB obligation as of
December 31, 2011, was calculated as follows:
Annual required contribution (ARC)
$97,752
Interest on net OPEB obligation
7,649
Adjustment to ARC
(6,033)
Adjustment for 2009 and 2010 costs assumed to be equal
-
Annual OPEB cost
99,368
Contributions made during the year
(23,435)
Increase (decrease) in net OPEB obligation
75,933
Net OPEB obligation - beginning of year
169,973
Net OPEB obligation - end of year $245,906
For the governmental activities, the net OPEB obligation is generally liquidated by the General Fund.
71
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31. 2011
The City had an actuarial valuation performed for the plan as of January 1, 2010 to determine the
funded status of the plan as of that date as well as the employer's annual required contribution (ARC)
for the fiscal year ended December 31, 2011. The City's annual OPEB cost, the percentage of annual
OPEB cost contributed to the plan and the net OPEB obligation for 2009, 2010 and 2011 was as
follows:
Percentage of
Fiscal Year Annual OPEB Employer Annual OPEB Cost Net OPEB
Ended Cost Contributions Contributed Obligation
December 31, 2009 $116,485 $27,350 23.0% $89,135
December 31, 2010 98,169 17,331 18.0% 169,973
December 31, 2011 99,368 23,435 18.0% 245,906
F. FUNDED STATUS AND FUNDING PROGRESS
The City currently has no assets that have been irrevocably deposited in a trust for future health
benefits; therefore, the actuarial value of assets is zero. The funded status of the plan was as follows:
Unfunded
Actuarial Actuarial UAAL as a
Actuarial Actuarial Accrued Accrued Funded Covered Percentage of
Valuation Value of Assets Liability (AAL)* Liability (URAL) Ratio Payroll Covered Payroll
Date (a) (b) (b -a) (alb) (c) ((b -a) / c)
January I, 2010 $0 $835,974 $835,974 0.00% $3,543,870 23.59%
'Using the Projected Unit Credit Actuarial cost method.
G. ACTUARIAL METHODS AND ASSUMPTIONS
Actuarial valuations of an ongoing plan involve estimates of the value of reported amounts and
assumptions about the probability of occurrence of events far into the future. Examples include
assumptions about future employment, mortality and the health care cost trend. Amounts determined
regarding the funded status of the plan and the annual required contributions (ARC) of the employer
are subject to continual revision as actual results are compared with past expectations and new
estimates are made about the future. The schedule of funding progress, presented as required
supplementary information following the notes to the financial statements, presents multi-year trend
information that shows whether the actuarial value of plan assets is increasing or decreasing over time
relative to the actuarial accrued liabilities for benefits.
Projections of benefits for financial reporting purposes are based on the substantive plan (the plan as
understood by the employer and plan members) and include the types of benefits provided at the time
of each valuation and the historical pattern of sharing of benefit costs between the employer and plan
members to that point. The actuarial methods and assumptions used include techniques that are
designed to reduce the effect of short-term volatility in actuarial accrued liabilities and the actuarial
value of assets, consistent with the long-term perspective of the calculations.
72
M
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2011
In the January 1, 2010 actuarial valuation, the Projected Unit Credit Actuarial cost method was used.
The actuarial assumptions included a 4.5% investment rate of return (net of administrative expenses),
an initial annual health care cost trend rate of 9% reduced by .33% each year to arrive at an ultimate
health care cost trend rate of 5.0% and an inflation rate of 3%. The actuarial value of assets was $0.
The plan's unfunded actuarial accrued liability is being amortized using the level percentage of
projected payroll method over 30 years on a open basis.
Note 8 INTERFUND RECEIVABLES/PAYABLES, LOANS AND TRANSFERS
Individual fund interfund receivable and payable balances at December 31, 2011 are as follows:
Fund
Maj or Funds:
General Fund
HRA Directed Projects
Nomnajor Funds:
Recycling Fund
HRA Fund
2012 Street Improvement Project Fund
Total
Receivable Payable
$420,091 $ -
- 118,871
- 11,745
- 159,862
129,613
$420,091 $420,091
Interfund payables and receivables are representative of lendingiborrowing arrangements to cover deficit cash
balances at the end of the fiscal year.
Interfund loans:
Fund Receivable Payable Purpose
t Major funds:
Water and Sewer
$2,219,990 $ -
HRA Projects
- 1,000,000
Provide financing for pay off of Fannie Mae loan
i Street Improvement Project
- 600,000
Provide financing for pay off of Fannie Mae loan
Provide financing for escrow required by 2003 public
- HRA Debt Service
- 437,430
facilities lease
Liquor Fund
- 109,500
Providing financing for the Market Place Liquor Store
` Nonmaj or funds:
Revolving Improvement Fund
- 73,060
Provide financing for Arbors Alley Project
t Total $2,219,990 $2,219,990
t
73
L.
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2011
Interfund transfers:
Transfer out
Governmental activities:
General Fund
HRA Projects
Business -type activities:
Water and Sewer Fund
Liquor Fund
Total transfers
Transfer In
Governmental Activities
Major Funds
HRA Nonmajor
General Debt Governmental
Fund Service Fund Total
$ $ - $66,100 $66,100
873,321 68,809 942,130
128,000
291,800
50,000
125,400
178,000
417,200
$419,800$873,321
$310,309
$1,603,430
All of the 2011 transfers are considered routine and consistent with previous practices.
Note 9 DEFICIT FUND BALANCES/NET ASSETS
The City has deficit fund balances/net assets at December 31, 2011 as follows:
Fund
Amount
Major funds:
2009 Street Improvement
$28,339
Nonmajor funds:
Recycling Fund
11,817
HRA Fund
167,651
Revolving Improvement
48,597
2012 Street Improvement
171,141
Internal Service Fund
628,857
These deficits will be eliminated by charges to other funds.
74
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2011
Note 10 CONTINGENCIES
A. RISK MANAGEMENT
The City is exposed to various risks of loss related to torts, theft of, damage to and destruction of
assets; errors and omissions; injuries to employees; and natural disasters.
Workers compensation coverage is provided through a pooled self-insurance program through the
League of Minnesota Cities Insurance Trust (LMCIT). The City pays an annual premium to the
LMCIT. The City is subject to supplemental assessments if deemed necessary by the LMCIT. The
LMCIT reinsures through Workers Compensation Reinsurance Association (WCRA) as required by
law. The City has no deductible and a managed care program to assist employees with their
rehabilitation plan. Annual employee hours of service are audited and final premiums are then
determined. The amount of premium adjustment, if any, is considered immaterial and not recorded
until received or paid.
Property, casualty and automobile insurance coverage are provided through a pooled self-insurance
program through the LMCIT. The City pays an annual premium to the LMCIT. The City is subject to
supplemental assessments if deemed necessary by the LMCIT. The LMCIT reinsures through
commercial companies for claims in excess of various amounts. The City retains risk for the
deductible portions. These deductibles are considered immaterial to the financial statements.
The City continues to carry commercial insurance for all other risks of loss, including liquor liability,
employee health and disability insurance.
There were no significant reductions in insurance from the previous year or settlements in excess of
insurance coverage for any of the past three fiscal years.
B. LITIGATION
The City has indicated that existing and pending lawsuits, claims and other actions in which the City is
a defendant are either covered by insurance; of an immaterial amount; or, in the judgment of the City,
remotely recoverable by plaintiffs.
C. FEDERAL AND STATE FUNDS
The City receives financial assistance from federal and state governmental agencies in the form of
grants. The disbursement of funds received under these programs generally requires compliance with
the terms and conditions specified in the grant agreements and are subject to audit by the grantor
agencies. Any disallowed claims resulting from such audits could become a liability of the applicable
fund. However, in the opinion of management, any such disallowed claims will not have a material
effect on any of the financial statements included herein or on the overall financial position of the City
at December 31, 2011.
75
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2011
D. TAX INCREMENT DISTRICTS
The City's tax increment districts are subject to review by the State of Minnesota Office of the State
Auditor (OSA). Any disallowed claims or misuse of tax increments could become a liability of the
applicable fund. Management has indicated that they are not aware of any instances of noncompliance
which would have a material effect on the financial statements.
E. PAY-AS-YOU-GO TAX INCREMENT
The City has two tax increment pay-as-you-go agreements. The agreements are not a general
obligation of the City and is payable solely from available tax increment. Accordingly, this agreement
is not reflected in the financial statements of the City. Details of the pay-as-you-go notes are as
follows:
TIF District #3-5, Landings at Silver Lake Village:
The pay-as-you-go note provides for the payment to the developer for 90% of all tax increment
received in the prior six months. The payment reimburses the developer for street, utilities, right-of-
way, land acquisition, and other public improvements. Principal and interest payments will be
completed February 1, 2031.
TIF District #3-5, Phase 11 Town Homes:
The pay-as-you-go note provides for the payment to the developer for 95% of all tax increment
received in the prior six months. The payment reimburses the developer for streets, utilities, right-
of-way, land acquisition, and other public improvements. Principal and interest payments will be
completed February 1, 2031.
F. ARBITRAGE
The City issued greater than $5 million of bonds in the years 2003, 2006, 2007 and 2011 and,
therefore; is required to rebate excess investment income relating to these issues to the federal
government. The City calculates arbitrage rebate every five years as permitted by arbitrage
regulations. The extent of the City's liability for arbitrage rebates for bond issues not currently
requiring five year rebate calculations is not determinable at this time. However, in the opinion of
management, any such liability would be immaterial.
Note 11 DEFERRED AD VALOREM TAX LEVIES -BONDED DEBT
General obligation bond issues sold by the City are financed by ad valorem tax levies and improvement bond
issues sold by the City are partially financed by ad valorem tax levies in addition to special assessments levied
against the benefiting properties. When a bond issue to be financed partially or completely by ad valorem tax
levies is sold, specific annual amounts of such tax levies are stated in the bond resolution and the County
Auditor is notified and instructed to levy these taxes over the appropriate years. The future tax levies are
subject to cancellation when and if the City has provided alternative sources of financing. The City Council is
required to levy any additional taxes found necessary for full payment of principal and interest.
These future scheduled tax levies are not shown as assets in the accompanying financial statements at
December 31, 2011.
76
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31. 2011
Note 12 FUND BALANCE/FUND EOUITY
A. CLASSIFICATIONS
At December 31, 2011, a summary of the governmental fund balance classifications are as follows:
Nonspendable:
Prepaid items
Restricted for:
Tax increment
Public safety
Debt service
Total restricted
Committed to:
Community center operstions/maimcnance
Revolving loan program
Total committed
Assigned to:
Community center operations/maintenance
Street impswcane rts/rehabilitiation
Storm water improvements
Development purposes
Public safety
Parks and recreation
Total assigned
i Unassigned
Total
Nonspendable:
Prepaid items
Restricted for:
Tax increment
Public safety
Debt service
Total restricted
Committed to:
Community center operations/maintenance
Revolving loan program
Total committed
Assigned to:
Community center operations/maintenance
Street improvements/rehabilitialion
Storm water improvements
Development purposes
Public safety
Parks and recreation
Total assigned
Unassigned
Total
Street
Improvement
HRA
Street
storm
Debt
Debt
Improvement
HRA Water
General Fund Service
Service
Projects
Projects Improvement
$55,271 $
$
$
$ $
_ 3,442,836 524,198
3,442,836 524,198
- 1,498,134 -
1,498,134
_ 91,018
91,018
354,111
- 9,798
354,111 9,798
1,647,566 (813,009) -
$1,702,837 $3,442,836 $524,198 $354,111 $776,143 $9,798
Silver 2009 2011
take Street Street
Road Improvement Improvement
Project Project Project Other Funds Total
$ $ $ $132 $55,403
- 1,498,134
16,281 16,281
_ 1,386,671 5,353,705
1,402,952 6,868,120
119,935 119,935
91,018
119,935 210,953
- - - 4,913 4,913
544 - 189,591 57,651 601,897
- - 9,798
42,887 42,887
10,763 10,763
93,409 93,409
544 189,591 209,623 763,667
(28,339) (399,230) 406,988
$544 ($28,339) $189,591 $1,333,412 $8,305,131
77
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31. 2011
B. MINIMUM UNASSIGNED FUND BALANCE POLICY
The City Council has formally adopted a policy regarding the minimum unassigned fund balance for
the General Fund. The most significant revenue source of the General Fund is property taxes. This
revenue source is received in two installments during the year — June and December. As such, it is the
City's goal to begin each fiscal year with sufficient working capital to fund operations between each
semi-annual receipt of property taxes.
The policy establishes a year-end targeted unassigned fund balance amount for cash-flow timing needs
in the range of 30-35% of the subsequent year's budgeted operating expenditures (net of expenditures
for police services to other cities). At December 31, 2011, the unassigned fund balance of the General
Fund was 36.88% of the subsequent year's budgeted expenditures.
Note 13 CONDUIT DEBT OBLIGATION
From time to time, the City has issued Multi -family Housing Revenue Bonds to provide financial assistance to
private -sector entities for the acquisition and construction of rental housing deemed to be in the public interest.
The bonds are secured by the property financed and are payable solely from payments received on the
underlying mortgage loans. Upon repayment of the bonds, ownership of the acquired facilities transfers to the
private -sector entity served by the bond issuance. Neither the City, the State, nor any political subdivision
thereof is obligated in any manner for repayment of the bonds. Accordingly, the bonds are not reported as
liabilities in the accompanying financial statements.
As of December 31, 2011, there were six series of Multi -family Housing Revenue Bonds outstanding. The
aggregate issued amount was $54,735,000, including two 1996 issues totaling $7,200,000, a 2002 issue of
$7,775,000 and three 2004 issues of $39,760,000. The balance outstanding at December 31, 2011 is
unavailable.
Note 14 PUBLIC FACILITIES LEASE
In 2003 the City, via the Housing and Redevelopment Authority (HRA), issued $5,530,000 of Public Facilities
Lease Revenue Bonds. Proceeds from these bonds were utilized to finance the renovation of public works
facilities and construction of a new fire station/hall.
Bond proceeds were placed into an escrow account. The City received reimbursement from the trustee as costs
are incurred by the City. To assist in financing the project the City transferred $157,000 from its Water and
Sewer Fund in 2003.
78
CITY OF ST. ANTHONY, MINNESOTA
I NOTES TO FINANCIAL STATEMENTS
December 31, 2011
I
In connection with this bond issue, the City entered into a lease agreement with the HRA for the use of these
facilities. Terms of the lease require the City to pay rents annually in amounts to satisfy the debt service
requirements related to the bond issued by the HRA. In addition, the City advanced $437,360 to the bond
trustee to initially fund the bond reserve requirements of the agreement.
The net book value of assets under this lease agreement at December 31, 2011 are as follows:
Land $1,294,541
Buildings and structures 4,887,598
Furniture, fixtures and equipment 30,902
Accumulated depreciation (1,236,832)
Net
$4,976,209
Note 15 OPERATING LEASES
Sprint
Clearwire
The City leases space above its water towers to Sprint Spectrum. The space
is used for antennas
and other
equipment necessary to provide radio communications.
Lease terms are as
follows:
23,835
2011
Annual Lease
Initial
27,447
Lease
Adjustment
Expiration
Automatic
Lessee Amount
Factor
Date
Renewals
Sprint Spectrum $22,037
4%
2/27/14
3-5 year terms
Clearw ire Communications 24,400
4%
7/10/14
5-5 year terms
Future minimum lease payments are as follows:
Fig
Sprint
Clearwire
Spectrum
Communications
2012
$22,918
$25,376
2013
23,835
26,391
2014
24,788
27,447
2015
25,780
28,545
2016
26,811
29,686
2017-2021
151,028
167,222
2022-2026
183,748
203,452
2027-2031
87,791
247,530
2032-2036
-
301,158
2037-2046
-
254,832
Total
$546,699
$1,311,639
Fig
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31. 2011
Note 16 LEGAL DEBT MARGIN
The City is subject to a statutory limitation by the State of Minnesota for bonded indebtedness payable
principally from property taxes. The City's legal debt margin for 2011 is computed as follows:
Note 17 RECENTLY ISSUED ACCOUNTING STANDARDS
The Governmental Accounting Standards Boards (GASB) recently approved the following statements which
were not implemented for these financial statements:
Statement No. 60 Accounting and Financial Reportingfor Service Concession Arrangements. The
provisions of this Statement are effective for financial statements for periods beginning after December 15,
2011.
Statement No. 61 The Financial Reporting Entity Omnibus —An Amendment of GASB No. 14 and No. 34.
The provisions of this Statement are effective for financial statements for periods beginning after June 15,
2012.
Statement No. 63 Financial Reporting of Deferred Outflows of Resources, Deferred Inflows of Resources
and Net Position. The provisions of this Statement are effective for financial statements for periods
beginning after December 15, 2011.
Statement No. 65 Items Previously Reported as Assets and Liabilities. The provisions of this Statement
are effective for financial statements for periods beginning after December 15, 2012.
Statement No. 66 Technical Corrections — 2012. The provisions of this Statement are effective for
financial statements for periods beginning after December 15, 2012.
The effect these standards may have on future financial statements is not determinable at this time.
80
December 31,
2011
Market value:
Ramsey County
$275,647,400
Hennepin County
463,828,500
Total market value
739,475,900
Debt limit percentage
3.00%
Debt limit
22,184,277
Amount of debt applicable to debt limit
Total bonded debt
35,865,000
Less nonapplicable debt:
Revenue bonds (liquor, water, sewer, storm sewer)
(2,205,000)
State aid street bonds
(250,000)
Tax abatement bonds
(1,600,000)
Improvement bonds
(16,645,000)
Tax increment bonds
(9,345,000)
Cashand investments inapplicable debt
service funds
(1,111,699)
Total amount of debt applicable to debt limit
4,708,301
Legal debt margin
$17,475,976
Note 17 RECENTLY ISSUED ACCOUNTING STANDARDS
The Governmental Accounting Standards Boards (GASB) recently approved the following statements which
were not implemented for these financial statements:
Statement No. 60 Accounting and Financial Reportingfor Service Concession Arrangements. The
provisions of this Statement are effective for financial statements for periods beginning after December 15,
2011.
Statement No. 61 The Financial Reporting Entity Omnibus —An Amendment of GASB No. 14 and No. 34.
The provisions of this Statement are effective for financial statements for periods beginning after June 15,
2012.
Statement No. 63 Financial Reporting of Deferred Outflows of Resources, Deferred Inflows of Resources
and Net Position. The provisions of this Statement are effective for financial statements for periods
beginning after December 15, 2011.
Statement No. 65 Items Previously Reported as Assets and Liabilities. The provisions of this Statement
are effective for financial statements for periods beginning after December 15, 2012.
Statement No. 66 Technical Corrections — 2012. The provisions of this Statement are effective for
financial statements for periods beginning after December 15, 2012.
The effect these standards may have on future financial statements is not determinable at this time.
80
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2011
Note 18 ACCOUNTING CHANGE, IMPLEMENTATION OF GASB 54
The City adopted the provisions of Governmental Accounting Standards Board Statement No. 54, Fund
Balance Reporting and Governmental Fund Type Definitions for the year ended December 31, 2011. Changes
to the reporting of the fund balance of the governmental funds is reflected in the financial statements and
related disclosures in Note 1.0 and Note 12.
The implementation of GASB Statement 54 also resulted in the reclassification of certain funds and the
restatement of the City's financial statements. A summary of these changes are as follows:
Fund balance / net assets -
December 31, 2010, as previously reported
Reclassification of Water Fi Itration and Purification Fund
Fund balarce / net assets -
Jamary 1, 2011, as restated
Note 19 PRIOR PERIOD ADJUSTMENT
Water and
Sewer Businesa-
Gow,raneraal Governmental Enterprise Type
Funds Activities Funds Activities
S 11,705,902 517,165,603 53,528,942 55,651,899
(5,183,068) (5,183,068) 5,183,068 5,183,068
56,522,834 511,982,535 58,712,010 510,834,967
During 2011, corrections to the prior year financial statements were made to correct the amounts recorded as
deposits payable and funds held for others at December 31, 2010. A summary of these changes are as follows:
Fund balance/net assets -
December 31, 2010, as previously reported
Prior period adjustments:
Deposits payable
Funds held by others
Total
Fund balance/net assets -
January 1, 2011, as restated
Note 20 SUBSEOUENT EVENTS
Governmental
Business -Type
Activities
Activities
HRA
Water and
Project
Sewer
$554,377 $8,712,010
28,252
(69,318) -
(69,318) 28,252
$485,059 $8,740,262
The City issued the $9,495,000 G.O. Bonds, Series 2012A on March 27, 2012 to refund the City's 2003 HRA
Lease Revenue Bonds, 2006A Improvement Bonds and 2007A Improvement Bonds and provide new money
for the City's 2012 road construction project.
81
L_
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82
REQUIRED SUPPLEMENTARY INFORMATION
83
CITY OF ST. ANTHONY, MINNESOTA
REQUIRED SUPPLEMENTARY INFORMATION
BUDGETARY COMPARISON SCHEDULE - GENERAL FUND
For The Year Ended December 31, 2011
With Comparative Totals For The Year Ended December 31, 2010
Statement 10
Page 1 of 5
Expenditures:
2011
2010
General government:
Budgeted Amounts
Actual
Variance with
Actual
Original
Final
Amounts
Final Budget
Amounts
Revenues:
Current:
General property taxes
$2,842,156
$2,842,156
$2,925,430
$83,274
$2,923,247
Licenses and permits
246,500
246,500
195,563
(50,937)
224,096
Intergovernmental:
Other services and charges
21,400
21,400
20,198
1,202
Federal:
Total mayor and council
58,800
58,800
56,432
2,368
Police grants
-
-
40,032
40,032
31,424
State:
Market value homestead credit
1,155
1,155
1,155
-
786
Police aid
157,700
157,700
163,151
5,451
165,472
Fire aid
52,500
52,500
32,574
(19,926)
34,415
Municipal state aid - street maintenance
32,300
32,300
66,813
34,513
65,008
PERA aid
7,200
7,200
7,197
(3)
7,197
Police grants
-
-
13,196
13,196
7,505
County:
Street maintenance
26,400
26,400
29,853
3,453
31,837
Other
2,700
2,700
9,785
7,085
4,635
Local:
School District DARE
14,500
14,500
14,500
-
14,500
Other
4,000
4,000
12,837
8,837
9,733
Total intergovernmental
298,455
298,455
391,093
92,638
372,512
Charges for services:
Police contracts
1,180,334
1,180,334
1,180,334
-
1,157,190
Cable franchise fees
90,000
90,000
96,608
6,608
92,786
Antenna rental - water tower
46,100
46,100
46,481
381
32,286
Administrative charges
28,600
28,600
28,600
-
28,600
Other
10,825
10,825
6,409
(4,416)
6,757
Total charges for services
1,355,859
1,355,859
1,358,432
2,573
1,317,619
Fines and forfeits
118,500
118,500
107,053
(11,447)
106,176
Contributions and donations
300
300
610
310
1,784
Other revenue:
Investment income
20,500
20,500
89
(20,411)
659
Miscellaneous - other
51,030
51,030
105,460
54,430
45,582
Total other revenue
71,530
71,530
105,549
34,019
46,241
Total revenues
4,933,300
4,933,300
5,083,730
150,430
4,991,675
Expenditures:
General government:
Mayor and council:
Current:
Personal services
36,800
36,800
35,709
1,091
35,843
Materials and supplies
600
600
525
75
686
Other services and charges
21,400
21,400
20,198
1,202
17,864
Total mayor and council
58,800
58,800
56,432
2,368
54,393
84
L
CITY OF ST. ANTHONY, MINNESOTA
REQUIRED SUPPLEMENTARY INFORMATION
BUDGETARY COMPARISON SCHEDULE - GENERAL FUND
For The Year Ended December 31, 2011
With Comparative Totals For The Year Ended December 31, 2010
Statement 10
Page 2 of 5
85
2011
2010
Budgeted Amounts
Actual
Variance with
Actual
Original
Final
Amounts
Final Budget
Amounts
Expenditures: (continued)
General government: (continued)
Intergovernmental relations:
Current:
Contracted services
$25,600
$25,600
$22,505
$3,095
$19,616
Public relations/cable:
Current:
Personal services
14,000
14,000
12,685
1,315
11,730
Supplies
300
300
148
152
44
Other services and charges
23,800
23,800
23,978
(178)
24,632
Total public relations/cable
38,100
38,100
36,811
1,289
36,406
General management:
Current:
Personal services
100,600
100,600
93,297
7,303
96,948
Supplies
200
200
793
(593)
446
Other services and charges
8,600
8,600
8,851
(251)
7,288
Total general management
109,400
109,400
102,941
6,459
104,682
Elections:
Current:
Personal services
22,600
22,600
18,128
4,472
21,386
Supplies
1,400
1,400
1,143
257
1,250
Other services and charges
5,000
5,000
5,726
(726)
2,981
Total elections
29,000
29,000
24,997
4,003
25,617
Finance:
Current:
Personal services
98,200
98,200
99,390
(1,190)
96,861
Supplies
11,600
11,600
11,538
62
7,768
Other services and charges
176,500
176,500
157,521
18,979
152,084
Total finance
286,300
286,300
268,449
17,851
256,713
Assessing:
Current:
Personal services
3,300
3,300
3,245
55
3,170
Supplies
200
200
38
162
38
Other services and charges
41,200
41,200
43,656
(2,456)
41,959
Total assessing
44,700
44,700
46,939
(2,239)
45,167
Legal:
Current:
Contracted services
75,000
75,000
78,161
(3,161)
62,446
Planning and zoning:
Current
Supplies
200
200
4
196
62
Other services and charges
5,000
5,000
1,125
3,875
5,255
Total planning and zoning
5,200
5,200
1,129
4,071
5,317
85
CITY OF ST. ANTHONY, MINNESOTA
REQUIRED SUPPLEMENTARY INFORMATION
BUDGETARY COMPARISON SCHEDULE - GENERAL FUND
For The Year Ended December 31, 2011
With Comparative Totals For The Year Ended December 31, 2010
Expenditures: (continued)
General government: (continued)
General government buildings:
Current:
Supplies
Other services and charges
Total general government buildings
Total general government
Public safety:
Civil defense:
Current:
Personal services
Supplies
Other services and charges
Total civil defense
Police protection:
Current:
Personal services
Supplies
Other services and charges
Total police protection
Fire protection:
Current:
Personal services
Supplies
Other services and charges
Total fire protection
Protective inspections:
Current:
Personal services
Supplies
Other services and charges
Total protective inspections
DARE program:
Current:
Personal services
Supplies
Other services and charges
Total DARE program
Statement 10
Page 3 of 5
$100
2011
$192
2010
Budgeted Amounts
Actual
Variance with
Actual
Original Final
Amounts
Final Budget
Amounts
$100
$100
$192
($92) $ -
114,300
114,300
108,997
5,303 104,263
114,400
114,400
109,189
5,211 104,263
786,500
786,500
747,553
38,947 714;620
54,900
54,900
53,116
1,784
53,776
1,200
1,200
1,430
(230)
1,046
3,600
3,600
4,157
(557)
4,132
59,700
59,700
58,703
997
58,954
1,468,420
1,468,420
1,522,632
(54,212)
1,487,842
78,900
78,900
83,965
(5,065)
55,644
89,580
89,580
57,740
31,840
53,999
1,636,900
1,636,900
1,664,337
(27,437)
1,597,485
780,300
780,300
778,377
1,923
756,450
21,800
21,800
23,362
(1,562)
16,645
37,900
37,900
46,998
(9,098)
37,803
840,000
840,000
848,737
(8,737)
810,898
10,600
10,600
10,525 75 10,318
100
100
- 100 -
99,800
99,800
70,839 28,961 75,307
110,500
110,500
81,364 29,136 85,625
12,000
12,000 12,432
(432) 10,014
2,000
2,000 2,795
(795) 2,696
500
500 -
500 -
14,500
14,500 15,227
(727) 12,710
M
CITY OF ST. ANTHONY, MINNESOTA
REQUIRED SUPPLEMENTARY INFORMATION
BUDGETARY COMPARISON SCHEDULE - GENERAL FUND
For The Year Ended December 31, 2011
With Comparative Totals For The Year Ended December 31, 2010
Statement 10
Page 4 of 5
Public works:
2011
2010
Street maintenance:
Budgeted Amounts
Actual
Variance with
Actual
Original
Final
Amounts
Final Budget
Amounts
Expenditures: (continued)
Personal services
341,500
341,500
357,025
(15,525)
Public safety: (continued)
Supplies
90,200
90,200
84,403
5,797
Animal control:
Other services and charges
85,600
85,600
97,864
(12,264)
Current:
Total street maintenance
517,300
517,300
539,292
(21,992)
Supplies
$400
$400
$71
$329
$ -
Contracted services
2,400
2,400
3,378
(978)
2,687
Total animal control
2,800
2,800
3,449
(649)
2,687
Total public safety
2,664,400
2,664,400
2,671,817
(7,417)
2,568,359
Public works:
Street maintenance:
Current:
Personal services
341,500
341,500
357,025
(15,525)
354,707
Supplies
90,200
90,200
84,403
5,797
105,964
Other services and charges
85,600
85,600
97,864
(12,264)
97,600
Total street maintenance
517,300
517,300
539,292
(21,992)
558,271
Equipment maintenance:
Current:
Personal services
42,200
42,200
42,075
125
41,446
Supplies
31,500
31,500
40,733
(9,233)
33,930
Other services and charges
8,800
8,800
10,627
(1,827)
10,107
Total equipment maintenance
82,500
82,500
93,435
(10,935)
85,483
Tree and weed care:
Current:
Personal services
32,600
32,600
32,857
(257)
32,717
Supplies
200
200
-
200
-
Other services and charges
3,400
3,400
3,998
(598)
4,384
Total tree and weed care
36,200
36,200
36,855
(655)
37,101
Total public works
636,000
636,000
669,582
(33,582)
680,855
Parks and recreation:
Park maintenance:
Current:
Personal services
135,400
135,400
123,797
11,603
137,646
Supplies
6,300
6,300
3,976
2,324
4,980
Other services and charges
35,000
35,000
29,100
5,900
28,690
Total park maintenance
176,700
176,700
156,873
19,827
171,316
Recreation:
Current:
Community services
52,200
52,200
52,176
24
52,176
Total parks and recreation
228,900
228,900
209,049
19,851
223,492
I
CITY OF ST. ANTHONY, MINNESOTA
REQUIRED SUPPLEMENTARY INFORMATION
BUDGETARY COMPARISON SCHEDULE - GENERAL FUND
For The Year Ended December 31, 2011
With Comparative Totals For The Year Ended December 31, 2010
Statement 10
Page 5 of 5
RE
2011
2010
Budgeted Amounts
Actual
Variance with
Actual
Original
Final
Amounts
Final Budget
Amounts
Expenditures: (continued)
Services to other cities:
Police services - contract allocation amount:
Personal services
$981,180
$981,180
$988,837
($7,657)
$970,305
Supplies
20,600
20,600
16,652
3,948
12,114
Other services and charges
54,320
54,320
33,520
20,800
34,060
Total services to other cities
1,056,100
1,056,100
1,039,009
17,091
1,016,479
Nondepartmental:
Personal services
-
-
5,394
(5,394)
2,909
Supplies
633
(633)
1,102
Workers compensation insurance
-
-
16,256
(16,256)
2,929
Total nondepartmental
0
0
22,283
(22,283)
6,940
Total expenditures
5,371,900
5,371,900
5,359,293
12,607
5,210,745
Revenues over(under)expenditures
(438,600)
(438,600)
(275,563)
163,037
(219,070)
Other financing sources (uses):
Transfers in
419,800
419,800
419,800
-
419,800
Transfers out
(66,100)
(66,100)
(66,100)
(66,100)
Total other financing sources (uses)
353,700
353,700
353,700
0
353,700
Net change in fund balance
($84,900)
($84,900)
78,137
$163,037
134,630
Fund balance - January 1, as previously reported
1,624,700
1,525,433
Prior period adjustment
-
(35,363)
Fund balance - January 1, as restated
1,624,700
1,490,070
Fund balance - December 31
$1,702,837
$1,624,700
RE
CITY OF ST. ANTHONY, MINNESOTA
REQUIRED SUPPLEMENTARY INFORMATION
BUDGETARY COMPARISON SCHEDULE
NOTE TO RSI
December 31, 2011
Note A BUDGETS
The General Fund budget is legally adopted on a basis consistent with accounting principles generally accepted
in the United States of America. The legal level of budgetary control is at the department level for the General
Fund.
89
CITY OF ST. ANTHONY, MINNESOTA
REQUIRED SUPPLEMENTARY INFORMATION Statement 11
SCHEDULE OF FUNDING PROGRESS
OTHER POST EMPLOYMENT BENEFITS PLAN
For The Year Ended December 31, 2011
The City implemented GASB Statement No. 45 for the fiscal year ended December 31, 2009. Information for prior
years is not available.
.N
(1)
(2)
(3)
(4)
(5)
(6)
Unfunded
Actuarial
Accrued
Active
UAAL As A
Actuarial
Actuarial
Actuarial
Funded
Liability
Members
Percentage of
Valuation
Value of
Accrued
Ratio
(UAAL)
Covered
Covered
Date
Assets
Liability (AAL)
(1)/(2)
(2)-(l)
Payroll
Payroll (4) / (5)
January 1, 2009
$
$1,160,956
0.00%
$1,160,956
$3,383,647
34.31%
January 1, 2010
835,974
0.00%
835,974
3,543,870
23.59%
The City implemented GASB Statement No. 45 for the fiscal year ended December 31, 2009. Information for prior
years is not available.
.N
COMBINING AND INDIVIDUAL NONMAJOR FUND FINANCIAL
STATEMENTS AND SCHEDULES
91
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92
NONMAJOR GOVERNMENTAL FUNDS
ys
SPECIAL REVENUE FUNDS
Special Revenue Funds are used to account for the proceeds of specific revenue sources that
are legally restricted to expenditures for specified purposes.
DEBT SERVICE FUNDS
Debt Service Funds are used to account for the accumulation of resources for, and
payment of, interest, principal and related costs on long-term debt.
CAPITAL PROJECT FUNDS
Capital Project Funds account for financial resources to be used for the
acquisition or construction of major capital facilities (other than those financed by
Proprietary Funds).
94
CITY OF ST. ANTHONY, MINNESOTA
1
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
December 31, 2011
I
0
Assets
Cash and investments
Accrued interest
Due from other governmental units
Accounts receivable - net
Prepaid items
Property taxes receivable:
Delinquent
Due from county
Special assessments receivable
Total assets
Liabilities and Fund Balance
Liabilities:
Accounts payable
Interfund payable
Interfund loan payable
Due to other governmental units
Salaries payable
Deferred revenue
Total liabilities
Fund balance:
Nonspendable
Restricted
Committed
Assigned
l Unassigned
Total fund balance
Total liabilities and fund balance
L
Special Debt Capital
Revenue Service Project
Statement 12
Totals
Nonmajor
Governmental
Funds
2011
$155,593
$1,380,490
$234,327
$1,770,410
249
-
-
249
-
-
10,000
10,000
21,638
-
-
21,638
132
-
-
132
1,087
8,143
-
9,230
741
3,608
-
4,349
-
489,929
47,094
537,023
16,281
$179,440
$1,882,170
$291,421
$2,353,031
$33,612
$
$67,544
$101,156
171,607
129,613
301,220
-
73,060
73,060
72
-
72
530
-
530
1,087
495,499
46,995
543,581
206,908
495,499
317,212
1,019,619
132
-
-
132
16,281
1,386,671
1,402,952
119,935
-
-
119,935
15,676
193,947
209,623
(179,492)
-
(219,738)
(399,230)
(27,468)
1,386,671
(25,791)
1,333,412
$179,440
$1,882,170
S291,421
52,353,031
95
CITY OF ST. ANTHONY, MINNESOTA
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND Statement 13
CHANGES IN FUND BALANCE
NONMAJOR GOVERNMENTAL FUNDS
For The Year Ended December 31, 2011
With Comparative Totals For The Year Ended December 31, 2010
Other financing sources
Bonds issued
-
52,903
-
Totals
1,375,000
Premium on debt issued
Special
Debt
Capital
Nonmajor Governmental Funds
402
Revenue
Service
Project
2011
2010
Revenues:
Transfers in
66,100
68,809
175,400
310,309
General property taxes
$106,877
$546,194
$ -
$653,071
$551,479
Intergovernmental
19,109
107,571
287,282
413,962
855,184
Special assessments
-
186,930
6,360
193,290
153,358
Charges for services
134,216
150,828
3,500
288,544
281,264
Forfeited property
10,782
-
-
10,782
21,989
Investment income
6,217
72
25
6,314
21,250
Contributions and donations
-
-
-
-
1,050
Other
42,069
-
635
42,704
45,316
Total revenues
319,270
991,595
297,802
1,608,667
1,930,890
Expenditures:
Current:
General government
12,559
-
77,296
89,855
134,144
Public safety
16,268
-
12,243
28,511
47,393
Public works
-
-
9,100
9,100
5,867
Parks and recreation
157,104
-
-
157,104
165,316
Housing and development
227,921
-
-
227,921
183,513
Capital outlay:
General government
-
-
12,661
12,661
-
Public safety
-
-
152,405
152,405
67,850
Public works
-
-
112,158
112,158
212,029
Debt service:
Principal
-
480,000
-
480,000
660,000
Interest
-
282,460
-
282,460
290,765
Paying agent fees
-
1,646
-
1,646
959
Professional service
-
4,490
-
4,490
854
Construction/acquistion costs
29,255
-
239,012
268,267
1,976,947
Total expenditures
443,107
768,596
614,875
1,826,578
3,745,637
Revenues over(under)expenditures
(123,837)
222,999
(317,073)
(217,911)
(1,814,747)
Other financing sources
Bonds issued
-
52,903
-
52,903
1,375,000
Premium on debt issued
-
-
-
-
402
Sale of capital assets
-
-
9,982
9,982
15,347
Transfers in
66,100
68,809
175,400
310,309
224,300
Total other financing sources
66,100
121,712
185,382
373,194
1,615,049
Net change in fund balance
(57,737)
344,711
(131,691)
155,283
(199,698)
Fund balance - January I, as previously reported
30,269
1,041,960
105,900
1,178,129
1,382,867
Prior period adjustment
-
-
-
-
(5,040)
Fund balance - January 1, as restated
30,269
1,041,960
105,900
1,178,129
1,377,827
Fund balance -December 31 ($27,468) $1,386,671 ($25,791) $1,333,4/12 $1,178,129
l�
96
NONMAJOR SPECIAL REVENUE FUNDS
The City's Special Revenue Funds are used to account for the proceeds of
specific revenue sources that are legally restricted to expenditures for
specified purposes. The City of St. Anthony, Minnesota had the following
Special Revenue Funds during the year:
Community Center Fund is used to account for the operation and maintenance
of City Hall and Community Services.
Police Forfeiture Fund is used to account for revenue and expenditures related
to the forfeiture of property.
Recycling Fund is used to account for the City's recycling program. It
incorporates the activities of both Hennepin and Ramsey Counties.
HRA Fund was established to oversee the commercial and residential
redevelopment activities in the community.
Fire Education / Trainine Fund was established to account for revenues and
expenditures related to training provided to police and fire personnel.
97
L
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W
CITY OF ST. ANTHONY, MINNESOTA
SUBCOMBINING BALANCE SHEET
NONMAJOR SPECIAL REVENUE FUNDS
December 31, 2011
Statement 14
240 Fire
Totals
601
230 Police
225
Education /
Nonmajor
Community
Forfeiture
Recycling
301 HRA
Training
Special
Center Fund
Fund
Fund
Fund
Fund
Revenue
2011
Assets
Cash and investments
$134,342
$17,829
$ -
S -
$3,422
$155,593
Accrued interest
-
-
-
249
-
249
Accounts receivable
-
5,793
-
15,845
-
21,638
Prepaid items
108
-
24
-
-
132
Property taxes receivable:
Delinquent
-
-
1,087
-
1,087
Due from county
-
-
-
741
-
741
Total assets
$134,450
$23,622
$24
$17,922
$3,422
$179,440
Liabilities and Fund Balance
Liabilities:
Accounts payable
$8,988
$
$ -
$24,624
$ -
$33,612
Interfund payable
-
11,745
159,862
-
171,607
Due to other governmental units
72
-
-
-
-
72
Salaries payable
434
96
-
-
530
Deferred revenue
-
-
-
1,087
-
1,087
Total liabilities
9,494
0
11,841
185,573
0
206,908
Fund balance:
Nonspendable
108
-
24
-
-
132
Restricted
-
16,281
-
-
-
16,281
Committed
119,935
-
-
-
119,935
Assigned
4,913
7,341
-
3,422
15,676
Unassigned
-
-
(11,841)
(167,651)
-
(179,492)
Total fund balance
124,956
23,622
(11,817)
(167,651)
3,422
(27,468
Total liabilities and fund balance
$134,450
$23,622
$24
$17,922
$3,422
$179,440
CITY OF ST. ANTHONY, MINNESOTA
SUBCOMBINING STATEMENT OF REVENUES,
EXPENDITURES AND CHANGES IN FUND BALANCE
NONMAJOR SPECIAL REVENUE FUNDS
For The Year Ended December 31, 2011
With Comparative Totals For The Year Ended December 31, 2010
Expenditures:
601 Community
230 Police
Current:
Center Fund
Forfeiture Fund
Revenues:
_
_
General property taxes
$ _
$ _
Intergovernmental:
157,104
_
State - market value homestead credit
_
_
Local- other
-
10,676
Charges for services:
_
Administrative fees
-
29,255
Rental receipts
125,000
-
Forfeited property
-
10,782
Investment income
11
3
Other
66,100
-
Total revenues
125,011
21,461
Expenditures:
Current:
General government
_
_
Public safety
-
10,242
Parks and recreation
157,104
_
Housing and development
_
_
Capital outlay:
Public safety
_
Construction/acquistion costs
-
29,255
Total expenditures
157,104
39,497
Revenues over(under)expenditures
(32,093)
(18,036)
Other financing sources (uses):
Transfers in
66,100
-
Net change in fund balance
34,007
(18,036)
Fund balance - January 1, as previously reported
90,949
41,658
Prior period adjustment
_
-
Fund balance - January 1, as restated
90,949
41,658
Fund balance - December 31
$124,956
$23,622
100
I
n
225 Recycling
Fund
4,893
2,487
7,380
12,559
12,559
(5,179)
(5,179)
(6,638)
(6,638)
($11,817)
301 HRA Fund
$106,877
3,540
6,203
41,622
158,242
227,921
227,921
(69,679)
(69,679)
(97,972)
(97,972)
($167,651)
240 Fire Education
/ Training Fund
6,729
447
7,176
6,026
6,026
1,150
1,150
2,272
2,272
$3,422
101
Statement 15
Totals Nonmajor Special Revenue Funds
2011
2010
$106,877
$108,925
3,540
3,487
15,569
5,807
9,216
5,833
125,000
125,000
10,782
21,989
6,217
20,301
42,069
15,516
319,270
306,858
12,559
16,268
157,104
227,921
29,255
443,107
(123,837)
66,100
(57,737)
30,269
30,269
(527,468)
36,565
18,128
165,316
183,513
41,406
444,928
(138,070)
66,100
(71,970)
103,616
(1,377)
102,239
530,269
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102
L
t
i
L.
NONMAJOR DEBT SERVICE FUNDS
The City's Debt Service Funds are used to account for the accumulation of
resources for, and payment of, interest, principal and related costs of long-term
debt other than proprietary fund debt. The City of St. Anthony, Minnesota had
the following nonmajor Debt Service Funds during the year.
Storm Water Fund was established to account for the debt service associated with
100 -Year Flood Protection and infrastructure improvements.
State Aid Street Fund accounts for debt service for road construction projects of
high traffic roads in the Village. Funding is provided by the State of Minnesota -
State Aid.
Tax Abatement Fund was established to account for debt service payments
associated with the improvements to City parks.
Equipment Certificates Fund was established for major capital equipment
purchases.
Silver Lake Road Bond Fund was established to account for the debt service
associated with the reconstruction and infrastructure improvements of Silver Lake
Road.
2009 Street Improvement Bond Fund was established to account for the debt
service associated with the reconstruction and infrastructure improvements to
Chandler Drive and Foss Road.
2010 Street Improvement Bond Fund was established to account for the debt
service associated with the reconstruction improvements to Silver Lane and the
overlay of portions of Old Highway 8 and Highcrest Road.
2011 Street Improvement Bond Fund was established to account for the debt
service associated with the reconstruction improvements to Belden Drive,
Coolidge Street, Harding Street and Edward Street. Sidewalk improvements along
39`h Ave are also included.
103
CITY OF ST. ANTHONY, MINNESOTA
SUBCOMBINING BALANCE SHEET
NONMAJOR DEBT SERVICE FUNDS
December 31, 2011
With Comparative Totals For December 31, 2010
Assets
Cash and investments
Property taxes receivable:
Delinquent
Due from county
Special assessments receivable
Total assets
Liabilities and Fund Balance
Liabilities:
Deferred revenue
Fund balance:
Restricted
Total liabilities and fund balance
703 Storm Water 207 State Aid Street 502 Tax Abatement
Fund Fund Fund
104
$140,768 $74,747 $208,187
1,961
888
$140,768 $74,747 $211,036
$ - $ $1,961
140,768 74,747 209,075
$140,768 $74,747 $211,036
r
L
Statement 16
H
U
u
$15
$2,937
$206,193
$54,421
$229,972
$495,499
512 2009 Street
516 2011 Street
402 Equipment
365 Silver Lake
Improvement Bond
514 2010 Street
Improvement Bond
Totals Nonmajor
Certificates Fund
Road Bond Fund
Fund
Project
Fund
Debt Service Funds
$15,858
$156,755
$644,303
$197,036
$441,667
2011
$15,842
$152,680
$435,488
$141,083
$211,695
$1,380,490
15
2,937
2,133
1,097
-
8,143
1
1,138
938
643
-
3,608
-
-
205,744
54,213
229,972
489,929
$15,858
$156,755
$644,303
$197,036
$441,667
$1,882,170
H
U
u
$15
$2,937
$206,193
$54,421
$229,972
$495,499
15,843
153,818
438,110
142,615
211,695
1,386,671
$15,858
$156,755
$644,303
$197,036
$441,667
$1,882,170
105
CITY OF ST. ANTHONY, MINNESOTA
SUBCOMBINING STATEMENT OF REVENUES,
EXPENDITURES AND CHANGES IN FUND BALANCE
NONMAJOR DEBT SERVICE FUNDS
For The Year Ended December 31, 2011
With Comparative Totals For The Year Ended December 31, 2010
Revenues:
General property taxes
Intergovernmental:
State:
MSA state aid
Local:
ISD - tax abatement
Special assessments
Charges for services
Investment income
Total revenues
Expenditures:
Debt service:
Principal
Interest
Paying agent fees
Professional service
Total expenditures
Revenues over (under) expenditures
Other financing sources:
Bonds issued
Transfers in
Total other financing sources (uses)
Net change in fund balance
Fund balance - January 1, as previously reported
Prior period adjustment
Fund balance - January 1, as restated
Fund balance - December 31
703 Storm Water 207 State Aid 502 Tax 402 Equipment
Fund Street Fund Abatement Fund Certificates Fund
$ - $ - $143,892 $16
75,966 -
31,605
150,828 - - -
5 1 14 1
150,833 75,967 175,511 17
130,000
65,000
45,000 -
18,900
8,475
52,739 -
98
43
277 -
-
-
665 -
148,998
73,518
98,681 0
1,835
2,449
76,830 17
0 0 0 0
1,835 2,449 76,830 17
138,933
72,298
132,245
15,826
138,933
72,298
132,245
15,826
$140,768 $74,747 $209,075 $15,843
W
Statement 17
107
512 2009 Street
516 2011 Street
75,966
365 Silver Lake
Improvement Bond
514 2010 Street
Improvement Bond
_
Road Bond Fund
Fund
Project
Fund
Totals Nonmajor Debt Service Funds
158,784
186,930
146,886
_
2011 2010
$178,374
$114,262
$109,650
$ -
$546,194 $442,554
107
75,966
72,520
_
_
_
_
31,605
29,982
-
19,681
8,465
158,784
186,930
146,886
_
_
_
_
150,828
150,431
4
32
7
8
72
369
178,378
133,975
118,122
158,792
991,595
842,742
' 100,000
140,000
-
-
480,000
660,000
67,200
86,817
48,329
-
282,460
290,765
614
-
614
-
1,646
959
3,250
517
58
-
4,490
854
171,064
227,334
49,001
0
768,596
952,578
7,314
(93,359)
69,121
158,792
222,999
(109,836)
_
_
-
52,903
52,903
28,145
68,809
-
-
68,809
-
0
68,809
0
52,903
121,712
28,145
7,314
(24,550)
69,121
211,695
344,711
(81,691)
146,504
462,660
73,494
-
1,041,960
1,127,314
_
_
_
_
-
(3,663)
146,504
462,660
73,494
0
1,041,960
1,123,651
$153,818
5438,110
$142,615
$211,695
S1,386,671
$1,041,960
107
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108
NONMAJOR CAPITAL PROJECT FUNDS
The City's Capital Project Funds account for financial resources to be used for the
acquisition or construction of major capital facilities (other than those financed by
Proprietary Funds). The City of St. Anthony, Minnesota had the following
Capital Project Funds during the year:
Revolving Improvement Fund was established to provide funding for smaller
improvement projects.
Park Improvement Fund accounts for the revenues and expenditures associated
with the renovations and refurbishing of the City's park system.
State Aid Street Fund accounts for the funding and costs of reconstruction for the
City's designated State Aid roads.
Silver Lake Village Park Fund was established to account for the operation and
maintenance of the City's park located in Silver Lake Village. The Park is named
"Salo Park" which is in honor of St. Anthony's sister city (Salo, Finland).
Capital Equipment Fund is used by all City Departments and accounts for the
annual purchases of capital equipment.
Building Improvement Fund was established to provide funding for existing City
owned building improvements and renovations.
2010 Street Improvement Project Fund accounts for the sidewalk, lighting and
street reconstruction improvements to Silver Lane and the bituminous mill and
overlay to portions of Old Highway 8 and Highcrest Road.
2012 Street Im rovement Proiect Fund Accounts for continuing street
reconstruction along Belden Drive and Coolidge Street along with 35`h Avenue
NE. Drainage improvements in the vicinities of Coolidge Street, Harding Street
and Lowry Avenue. Repairs to the Macalaster Drive sanitary sewer line will be
performed.
109
CITY OF ST. ANTHONY, MINNESOTA
SUBCOMBINING BALANCE SHEET
NONMAJOR CAPITAL PROJECT FUNDS
December 31, 2011
Assets
Cash and investments
Due from other governmental units
Special assessment receivable
Total assets
Liabilities and Fund Balance
Liabilities:
Accounts payable
Interfund payable
Interfind loan payable
Deferred revenue
Total liabilities
Fund balance (deficit):
Assigned
Unassigned
Total fund balance (deficit)
Total liabilities and fund balance
509 Revolving
Improvement
$24,364
47,094
$71,458
501 Park
Improvement
$36,006
205 State Aid
Street
$35,938
$36,006 $35,938
$ $
$24
73,060
46,995
120,055
0
24
-
36,006
35,914
(48,597)
-
-
(48,597)
36,006
35,914
$71,458
$36,006
$35,938
110
Statement 18
$
$25,992
510 Building
513 2010 Street
517 2012 Street
Totals Nonmajor
350 Silver Lake
401 Capital
Improvement
Improvement
Improvement
Capital Project
Village Park
Equipment Fund
Fund
Project Fund
Project Fund
Funds
_
_
2011
$57,403
$57,057
$1,822
$21,737
$ -
$234,327
-
10,000
-
-
-
10,000
-
_
_
-
-
47,094
$57,403
$67,057
$1,822
$21,737
$0
$291,421
$
$25,992
$
$
$41,528
S67,544
_
129,613
129,613
_
73,060
_
_
46,995
0
25,992
0
0
171,141
317,212
57,403
41,065
1,822
21,737
-
193,947
_
_
_
_
(171,141)
(219,738)
57,403
41,065
1,822
21,737
(171,141)
(25,791)
$57,403
$67,057
$1,822
$21,737
$0
$291,421
111
CITY OF ST. ANTHONY, MINNESOTA
SUBCOMBINING STATEMENT OF REVENUES,
EXPENDITURES AND CHANGES IN FUND BALANCE
NONMAJOR CAPITAL PROJECT FUNDS
For The Year Ended December 31, 2011
With Comparative Totals For The Year Ended December 31, 2010
Expenditures:
General government:
Materials and supplies - _ _ _
Capital outlay - _ _ _
Public safety:
Materials and supplies - _ _ _
Capital outlay _ _ _ _
Public works:
Materials and supplies - 4,681 263 -
Contractual services 4,156 - - _
Capital outlay -
Construction/acquistion costs - _ _ _
Total expenditures 4,156 4,681 263 0
Revenues over (under) expenditures 2,207 (1,177) (260) 5
Other financing sources:
509 Revolving
501 Park 205 State Aid 350 Silver Lake
Improvement
Improvement Street Village Park
Revenues:
Intergovernmental:
Premium on debt issued
_
State - Municipal state aid
$ -
$ -
State - other
_
_
Other - local participation
-
_
Special assessments
6,360
-
Charges for services:
Total other financing sources
0
Service charges
-
3,500
Investment income
3
4 3 5
Contributions and donations
5
_
Other
37,183
36,174
Total revenues
6,363
3,504 3 5
Expenditures:
General government:
Materials and supplies - _ _ _
Capital outlay - _ _ _
Public safety:
Materials and supplies - _ _ _
Capital outlay _ _ _ _
Public works:
Materials and supplies - 4,681 263 -
Contractual services 4,156 - - _
Capital outlay -
Construction/acquistion costs - _ _ _
Total expenditures 4,156 4,681 263 0
Revenues over (under) expenditures 2,207 (1,177) (260) 5
Other financing sources:
Bonds issued
_
Premium on debt issued
_
Transfers in
_
Sale of capital assets
_
Total other financing sources
0
0
0
0
Net change in fund balance
2,207
(1,177)
(260)
5
Fund balance (deficit) - January 1
(50,804)
37,183
36,174
57,398
Fund balance (deficit) - December 31
($48,597)
$36,006
$35,914
$57,403
112
Statement 19
510 Building 513 2010 Street 517 2012 Street
401 Capital Improvement Improvement Improvement
Equipment Fund Fund Project Fund Project Fund Totals Nonmajor Capital Project Funds
2011 2010
$124,474 $ - $
45,295 -
10,000 - 107,513
10
635
180,414 0 107,513
77,296
12,661
12,243
152,405
112,158
366,763
(186,349)
$124,474
$52,502
45,295
0
117,513
644,940
$124,474
$52,502
45,295
45,946
117,513
644,940
6,360
6,472
3,500
-
25
580
-
1,050
635
29,800
297,802
781,290
- 77,296
97,579
- - 12,661
-
- - 12,243
29,265
- - 152,405
26,444
- - 4,944
1,416
- - 4,156
4,451
- - 112,158
212,029
67,871 171,141 239,012
1,976,947
67,871 171,141 614,875
2,348,131
39,642 (171,141) (317,073) (1,566,841)
113
1,346,855
_
-
402
175,400
175,400
158,200
9,982
9,982
15,347
185,382
0
0 0
185,382
1,520,804
(967)
0
39,642 (171,141)
(131,691)
(46,037)
42,032
1,822
(17,905) -
105,900
151,937
$41,065
$1,822
$21,737 ($171,141)
($25,791)
$105,900
113
CITY OF ST. ANTHONY, MINNESOTA
SPECIAL REVENUE FUND - 601 COMMUNITY CENTER FUND Statement 20
SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE -BUDGET AND ACTUAL
For The Year Ended December 31, 2011
With Comparative Actual Amounts For The Year Ended December 31, 2010
Revenues:
Charges for services:
Rental receipts
Investment income
Total revenues
Expenditures:
Parks and recreation:
Current:
Personal services
Supplies
Contractual services
Total expenditures
Revenues over (under) expenditures
Other financing sources:
Transfer from other funds
Net change in fund balance
Fund balance - January 1
Fund balance - December 31
13,400
2011
12,944
Budgeted
Amounts
2010
Original
Final Actual
Actual
$125,000
$125,000 $125,000
$125,000
2,000
2,000 11
57
127,000
127,000 125,011
125,057
13,400
13,400
12,944
12,999
1,000
1,000
373
952
183,300
183,300
143,787
151,365
197,700
197,700
157,104
165,316
(70,700)
(70,700)
(32,093)
(40,259)
66,100
66,100
66,100
66,100
($4,600) ($4,600)
114
34,007 25,841
90,949 65,108
$124,956 $90,949
1
CITY OF ST. ANTHONY, MINNESOTA
SPECIAL REVENUE FUND - 230 POLICE FORFEITURE FUND
SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
For The Year Ended December 31, 2011
With Comparative Actual Amounts For The Year Ended December 31, 2010
Statement 21
1
2011
Budgeted Amounts
2010
t
Original
Final
Actual
Actual
Revenues:
Intergovernmental revenue
$ -
$ -
$10,676
$5,807
Forfeiture and confiscation
21,000
21,000
10,782
21,989
Investment income
1,000
1,000
3
47
Total revenues
22,000
22,000
21,461
27,843
Expenditures:
Public safety:
Current:
Personal services
5,000
5,000
-
-
Supplies
8,000
8,000
8,185
9,239
Other services and charges
5,000
5,000
2,057
3,816
Capital outlay
-
-
-
41,406
Constructionlacquistion costs
8,000
8,000
29,255
Total expenditures
26,000
26,000
39,497
54,461
Revenues over(under)expenditures
($4,000)
($4,000)
(18,036)
(26,618)
Fund balance - January 1
41,658
68,276
Fund balance - December 31
0
V
t
A
115
$23,622 $41,658
CITY OF ST. ANTHONY, MINNESOTA
SPECIAL REVENUE FUND - 225 RECYCLING FUND Statement 22
SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
For The Year Ended December 31, 2011
With Comparative Actual Amounts For The Year Ended December 31, 2010
Revenues:
Intergovernmental:
Hennepin County recycling grant
Ramsey County score grant
Charges for services
Investment income
Total revenues
Expenditures:
General government:
Current
Personal services
Other services and charges
Total expenditures
Revenues over(under)expenditures
Fund balance (deficit) - January 1
Fund balance (deficit) - December 31
2011
Budgeted Amounts
Original Final
$6,500
5,000
4,000
15,500
4,300
17,000
21,300
$6,500
5,000
4,000
15,500
4,300
17,000
21,300
($5,800) ($5,800)
116
Actual
4,893
2,487
7,380
2010
Actual
3,768
11
3,779
4,057
3,734
8,502
32,831
12,559
36,565
(5,179)
(32,786)
(6,638)
26,148
($11,817) ($6,638)
r CITY OF ST, ANTHONY, MINNESOTA
I SPECIAL REVENUE FUND - 301 HRA FUND Statement 23
SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
For The Year Ended December 31, 2011
With Comparative Actual Amounts For The Year Ended December 31, 2010
Revenues:
General property taxes
Intergovernmental - State:
Market value homestead credit
Investment income
Other
Total revenues
Expenditures:
I Housing and redevelopment:
Current:
Personal services
Contractual services
Total expenditures
Revenues over (under) expenditures
Fund balance (deficit) - January 1, as previously reported
Prior period adjustment
Fund balance (deficit) - January 1, as restated
Fund balance (deficit) - December 31
n
8
r
a
105,200
2011
94,998
101,329
Budgeted Amounts
109,800
2010
Original
Final
Actual
Actual
183,513
($34,000)
$112,500
$112,500
$106,877
$108,925
-
-
3,540
3,487
67,500
67,500
6,203
20,184
1,000
1,000
41,622
11,681
181,000
181,000
158,242
144,277
105,200
105,200
94,998
101,329
109,800
109,800
132,923
82,184
215,000
215,000
227,921
183,513
($34,000)
($34,000)
(69,679)
(39,236)
117
(97,972) (57,359)
(1,377)
(97,972) (58,736)
($167,651) (597,972)
CITY OF ST. ANTHONY, MINNESOTA
SPECIAL REVENUE FUND - 240 FIRE EDUCATION / TRAINING FUND Statement 24
SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
For The Year Ended December 31, 2011
With Comparative Actual Amounts For The Year Ended December 31, 2010
Revenues:
Charges for services
Investment income
Other
Total revenues
Expenditures:
Public safety:
Current:
Personal services
Materials and supplies
Other
Total expenditures
Revenues over expenditures
Fund balance - January 1
Fund balance - December 31
2011
Budgeted Amounts
Original Final
2010
Actual Actual
$2,700 $2,700 $6,729 $2,065
2
100 100 447 3,835
2,800 2,800 7,176 5,902
2,300 2,300 3,630 4,376
400 400 2,396 597
100
2,700 2,700 6,026 5,073
$100 $100
118
1,150 829
2,272 1,443
$3,422 $2,272
n
(-.
CITY OF ST. ANTHONY, MINNESOTA
STATEMENT OF CHANGES IN ASSETS AND LIABILITIES Statement 25
AGENCYFUND
For The Year Ended December 31, 2011
I
119
Balance
Balance
January 1,
December 31,
2011
Additions Deletions
2011
Veteran's Memorial Fund
Assets:
Cash and investments
$200
$ - $13,572
($13,372)
Accounts receivable - net
-
13,372 -
13,372
Total assets
$200
$13,372 $13,572
$ -
Liabilities:
Deposits payable
$200
$ - $200
$ -
119
- This page intentionally left blank -
120
SUPPLEMENTARY FINANCIAL INFORMATION
121
CITY OF ST. ANTHONY, MINNESOTA
BALANCE SHEET
HRA DEBT SERVICE FUND
December 31, 2011
Exhibit 1
G.O. Tax
Increment
Bonds
325 1996A
311/312 Public 335 TIF 336 TIF
HRA Debt
Apache (Cub
Facilities Revenue Bonds Revenue Bonds
Service Fund
Foods)
Revenue Bonds 2006 2007
Totals
2011
Assets
Cash and investments $13 $521,541 $ $ $521,554
Funds held in trust - 437,465 437,465
Accrued interest receivable - 6 - - 6
Property taxes receivable:
Delinquent - 6,921 6,921
Due from county - 2,603 2,603
Total assets $13 $968,536 $0 $0 $968,549
Liabilities and Fund Balance
Liabilities:
Interfund loan payable 437,430 $437,430
Deferred revenue - 6,921 - - 6,921
Total liabilities 0 444,351 0 0 444,351
Fund balance:
Restricted
Total liabilities and fund balance
13 524,185
S13 $968,536
122
524,198
$0 SO $968,549
( CITY OF ST. ANTHONY, MINNESOTA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES Exhibit 2
IN FUND BALANCE
HRA DEBT SERVICE FUND
( For The Year Ended December 31, 2011
With Comparative Totals For The Year Ended December 31, 2010
Revenues:
General property taxes
Investment income
Total revenues
Expenditures:
General government:
Other
Debt service:
Principal
Interest and other
Paying agent fees
Professional service
Total expenditures
G.O. Tax
Increment
Transfers in
Bonds
-
355,675
318,396
873,321
311/312
Transfers out
-
-
Public
-
-
325 1996A
Facilities
335 TIF
336 TIF
Apache (Cub
Revenue
Revenue
Revenue
Foods)
Bonds
Bonds 2006
Bonds 2007 HRA Debt Service Fund Totals
0
20,261
32,005
2011 2010
$ - $404,987 $ - $ - $404,987 $410,989
70 70 509
0 405,057 0 0 405,057 411,498
1,155 - -
175,000 225,000 95,000
22,168 155,685 256,675
914 2,414 2,000
1,155 1,378
95,000 590,000 560,000
217,746 652,274 674,789
650 5,978 4,859
- 1,710 2,000 5,000 8,710 -
199,237 384,809 355,675 318,396 1,258,117 1,241,026
Revenues over (under) expenditures (199,237) 20,248 (355,675) (318,396) (853,060) (829,528)
Other financing sources (uses):
Transfers in
199,250
-
355,675
318,396
873,321
861,533
Transfers out
-
-
-
-
-
Total other financing sources (uses)
199,250
0
355,675
318,396
873,321
861,533
Net change in fund balance
13
20,248
0
0
20,261
32,005
Fund balance - January 1, as previously reported
-
503,937
-
-
503,937
1,234,283
Prior period adjustment
-
-
-
-
-
(5,638)
Accounting change
-
-
-
-
(756,713)
Fund balance (deficit) - January 1, as restated
0
503,937
0
0
503,937
471,932
Fund balance -December 31
$13
$524,185
$0
SO
$524,198
$503,937
123
CITY OF ST. ANTHONY, MINNESOTA
BALANCESHEET
HRA PROJECTS FUND
December 31, 2011
Assets
Cash and investments
Funds held in trust
Interfund loan receivable
Property taxes receivable:
Delinquent
Due from county
Funds held by others
Total assets
Liabilities and Fund Balance
Liabilities:
Interfund payable
Accounts payable
Deposits payable
Interfund loans payable
Deferred revenue
Total liabilities
Fund balance (deficit):
Restricted
Committed
Unassigned
Total fund balance (deficit)
Total liabilities and fund balance (deficit)
Exhibit 3
Tax Increment Financing Districts
319/320
321 HRA
Chandler 330 Apache 326 Apache Directed HRA Projects
Place (Wal-Mart) (Cub Foods) Projects Eliminations Fund Total
2011
$176,921 $1,401,151
- 696
400,500
61,874
4,745
$290,017 $ - $
630,000
91,018
(1,030,500)
$1,868,089
696
61,874
4,745
91,018
$577,421 $1,468,466 $920,017 $91,018 ($1,030,500) $2,026,422
$ - $ - $ - $118,871 $ - $118,871
67,051 - - - 67,051
- - 2,483 - 2,483
2,030,500 - - (1,030,500) 1,000,000
61,874 - - - 61,874
0 2,159,425 0 121,354 (1,030,500) 1,250,279
577,421 696 920,017 - - 1,498,134
- - - 91,018 - 91,018
- (691,655) - (121,354) - (813,009)
577,421 (690,959) 920,017 (30,336) 0 776,143
$577,421 $1,468,466 $920,017 $91,018 ($1,030,500) $2,026,422
124
CITY OF ST. ANTHONY, MINNESOTA
1 SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES Exhibit 4
IN FUND BALANCE
HRA PROJECTS FUND
j - For The Year Ended December 31, 2011
With Comparative Totals For The Year Ended December 31, 2010
r Revenues:
Tax increment collections
Intergovernmental - MVHC
t Investment income
Other revenues:
Developer fees and reimbursements
Total revenues
Expenditures:
General government:
Other
Developer incentives
Total expenditures
Revenues over expenditures
Other financing sources (uses)
Tax Increment Financing
Districts
15,000
229,455 1,228,147 264,204
336 1,722,142
1,939,112
4,209 39,667 1,039
- 444,013 -
319/320
213,761
470,632
321
0 488,928
326 Apache
HRA
-
Chandler
330 Apache
(Cub
Directed
485,059
Place
(Wal-Mart)
Foods)
Projects
HRA Projects Fund Totals
$554,377
2011 2010
$229,451
$1,215,240
$264,182
$ -
$1,708,873 $1,911,678
-
12,781
-
-
12,781 11,357
4
126
22
-
152 1,077
- - -
336 336
15,000
229,455 1,228,147 264,204
336 1,722,142
1,939,112
4,209 39,667 1,039
- 444,013 -
- 44,915
- 444,013
213,761
470,632
4,209 483,680 1,039
0 488,928
684,393
225,246 744,467 263,165 336 1,233,214 1,254,719
Transfers out (68,809) (674,071) (199,250) - (942,130) (2,892,033)
Net change in fund balance 156,437 70,396 63,915 336 291,084 (1,637,314)
Fund balance - January 1, as previously reported
420,984 (761,355)
856,102 38,646
554,377
1,279,858
Prior period adjustment
- -
- (69,318)
(69,318)
155,120
Accounting change
- -
- -
-
756,713
Fund balance - January 1, as restated
420,984 (761,355)
856,102 (30,672)
485,059
2,191,691
Fund balance (deficit) - December 31
$577,421 ($690,959)
$920,017 ($30,336$776,143
$554,377
L
125
i
CITY OF ST. ANTHONY, MINNESOTA
SCHEDULE OF REVENUES, EXPENSES AND CHANGES Exhibit 5
FUND NET ASSETS
WATER AND SEWER ENTERPRISE FUND
For The Year Ended December 31, 2011
With Comparative Totals For The Year Ended December 31, 2010
Operating revenues:
Charges for services
Connection charges
Total operating revenues
Operating expenses:
Personal services
Supplies
Contracted services and other
Treatment charges (MCES)
Other
Depreciation
Total operating expenses
Operating income (loss)
Nonoperating revenues (expenses):
Investment income
Interest expense
Amortization of bond discount
Paying agent fees
Miscellaneous income
Total nonoperating revenues (expenses)
Net operating income (loss)
Transfers out
Change in net assets
Net assets - January 1
Prior period adjustment
Net assets - January 1, as restated
Net assets - December 31
126
52,441
199,615
Operations
(71,093)
(2,694)
(2,694)
704 Water Filtration
(361)
Totals
3,236
701 Water
and Purification
701 Sewer
2011
2010
$798,240
$
$779,513
$1,577,753
$1,574,664
-
-
850
798,240
0
779,513
1,577,753
1,575,514
390,394
65,552
223,979
679,925
679,388
43,023
35,798
13,283
92,104
94,846
61,393
9,258
39,789
110,440
137,133
-
-
522,503
522,503
502,255
142,391
22,373
54,045
218,809
182,174
166,923
-
89,151
256,074
256,074
804,124
132,981
942,750
1,879,855
1,851,870
($5,884)
($132,981)
($163,237)
(302,102)
(276,356)
Nonoperating revenues (expenses):
Investment income
Interest expense
Amortization of bond discount
Paying agent fees
Miscellaneous income
Total nonoperating revenues (expenses)
Net operating income (loss)
Transfers out
Change in net assets
Net assets - January 1
Prior period adjustment
Net assets - January 1, as restated
Net assets - December 31
126
52,441
199,615
(68,064)
(71,093)
(2,694)
(2,694)
(564)
(361)
533
3,236
(18,348)
128,703
(320,450) (147,653)
(178,000) (178,000)
(498,450) (325,653)
8,712,010 9,037,663
28,252 -
8,740,262 9,037,663
$8,241,812 $8,712,010
III. STATISTICAL SECTION (UNAUDITED)
This part of the City of St. Anthony, Minnesota's Comprehensive Annual Financial
Report presents detailed information as a context for understanding what the information
in the financial statements, note disclosures and required supplementary information says
about the City of St. Anthony, Minnesota's overall financial health.
Contents
Financial Trends
Page
These tables contain trend information to help the reader understand how 128-133
the City's financial performance and well-being have changed over time.
Revenue Capacity
These tables contain information to help the reader assess the City's most 134-137
significant local revenue source, the property tax.
Debt Capacity
These tables present information to help the reader assess the affordability 138-145
of the City's current levels of outstanding debt and the City's ability to issue
additional debt in the future.
Demographic and Economic Information
These tables offer demographic and economic indicators to help the reader 146-147
understand the enviornment within which the City's financial activities take
place.
Operating Information
These tables contain service and infrastructure data to help the reader 148-153
understand how the information in the City's financial report relates to the
services the City provides and the activities it performs.
Sources: Unless otherwise noted, the information in these tables is derived from the
comprehensive financial reports for the relevant year.
Comparable GASB Statement 34 information is available for years beginning in 2005;
the City has chosen to provide information for that year forward. Ultimately, these tables
will contain information for the last ten years.
127
L.
CITY OF ST. ANTHONY, MINNESOTA
NET ASSETS BY COMPONENT
Last Seven Fiscal Years
(Accrual Basis of Accounting)
Table 1
Business -type activities:
Fiscal Year
Invested in capital assets,
Invested in capital assets,
2005
2006
2007
2008
2009
2010
2011
Governmental activities:
$2,703,188
$4,745,674
$5,017,685
$4,915,905 $4,767,233
Restricted for:
$19,014,138
$20,101,987
Invested in capital assets,
Debt service
120,000
120,000
120,000
net of related debt
$4,785,860
$9,108,004
$12,640,902
$13,372,903
$12,367,934
$14,098,233
$15,334,754
Restricted for:
615,994 5,642,649
Total business -type
53,908
63,701
60,985
34,320
16,281
Debt service
8,164,796
6,541,771
3,228,881
2,327,517
6,782,289
4,372,871
4,263,706
Public safety
50,191
42,994
53,908
63,701
60,985
34,320
16,281
Unrestricted
3,729,287
2,287,779
(383,292)
90,615
(3,478,013)
(1,339,821)
(6,358,682)
Total governmental
activities net assets
$16,730,134
$17,980,548
$15,540,399
$15,854,736
$15,733,195
$17,165,603
$13,256,059
Business -type activities:
Invested in capital assets,
Invested in capital assets,
net of related debt
$1,758,506
$1,822,792
$2,703,188
$4,745,674
$5,017,685
$4,915,905 $4,767,233
Restricted for:
$19,014,138
$20,101,987
Restricted for:
Debt service
120,000
120,000
120,000
120,000
120,000
120,000 -
Unrestricted
2,157,418
1,973,533
1,183,416
1,042,856
730,653
615,994 5,642,649
Total business -type
53,908
63,701
60,985
34,320
16,281
Unrestricted
activities net assets
$4,035,924
$3,916,325
$4,006,604
$5,908,530
$5,868,338
$5,651,899 $10,409,882
Primary government:
Invested in capital assets,
net of related debt
$6,544,366
$10,930,796
$15,344,090
$18,118,577
$17,385,619
$19,014,138
$20,101,987
Restricted for:
Debt service
8,284,796
6,661,771
3,348,881
2,447,517
6,902,289
4,492,871
4,263,706
Public safety
50,191
42,994
53,908
63,701
60,985
34,320
16,281
Unrestricted
5,886,705
4,261,312
800,124
1,133,471
(2,747,360)
(723,827)
(716,033)
Total primary government
net assets
$20,766,058
$21,896,873
$19,547,003
$21,763,266
$21,601,533
$22,817,502
$23,665,941
Comparable GASB Statement 34 information is available for years beginning in 2005; the City has chosen to provide
information for that year forward. Ultimately, this table will contain information for ten years.
128
CITY OF ST. ANTHONY, MINNESOTA
CHANGES IN NET ASSETS
Last Seven Fiscal Years
(Accrual Basis of Accounting)
Expenses
Governmental activities:
General government
Public safety
Public works
Parks and recreation
Services to other cities
Housing and redevelopment
Interest on long-term debt
Total governmental
activities expenses
Business -type activities:
Liquor
Water
Water Filtration and Purification
Sewer
Total business -type
activities expenses
Total primary
government expenses
Program revenues
Governmental activities:
Charges for services:
Services to other cities
Other activities
Operating grants and contributions
Capital grants and contributions
Total governmental
activities program revenues
Business -type activities:
Charges for services:
Liquor
Water
Water Filtration and Purification
Sewer
Operating grants and contributions
Capital grants and contributions
Total business -type
activities program revenues
Total primary government
program revenues
L.
Table 2
Page 1 of 2
Fiscal Year
2005 2006 2007 2008 2009 2010 2011 0l
$877,230 $1,115,231 $1,111,240 $1,231,302 $1,160,932 $1,310,199 $1,052,821
2,402,296 2,461,222 2,359,360 2,656,975 2,937,528 2,898,043 2,971,316
1,414,857 1,400,951 6,266,350 1,436,309 1,839,163 1,841,083 1,834,066
1,499,773 806,512 450,549 416,881 424,590 440,858 457,822
606,952 649,625 911,419 940,807 1,026,842 1,016,479 1,039,009
424,273 2,967,835 173,098 536,068 2,534,700 654,145 671,934
1,014,270 1,096,390 1,411,926 1,497,107 1,407,527 1,290,844 1,302,681
8,239,651 10,497,766 12,683,942 8,715,449 11,331,282 9,451,651 9,329,649
5,034,639 5,429,222 5,740,169 5,969,076 6,156,097 6,360,985 6,537,271
641,490 899,686 775,828 794,433 843,723 826,352 874,099
- - - - - - 132,981
805,171 736,967 785,491 860,918 932,979 956,635 944,097
6,481,300 7,065,875 7,301,488 7,624,427 7,932,799 8,143,972 8,488,448
$14,720,951 $17.563,641 $19,985,430 $16,339,876 $19,264,081 $17,595,623 $17,818,097
$724,140
$747,675
$1,039,000
$1,096,200
$1,156,500
$1,157,190
$1,180,334
1,192,468
999,142
876,425
841,448
972,456
817,062
803,397
691,777
684,819
609,886
522,542
456,357
475,411
454,841
2,905,063
974,678
755,930
1,684,417
1,659,382
992,511
839,137
5,513,448 3,406,314 3,281,241 4,144,607 4,244,695 3,442,174 3,277,709
5,298,404
5,814,838
6,187,185
684,096
778,979
841,611
843,409
776,886
850,260
6,359,731
6,611,975
812,371
806,987
803,350
776,330
6,826,901
6,995,923
785,642
798,240
789,872
779,513
6,825,909 7,370,703 7,879,056 7,975,452 8,195,292 8,402,415 8,573,676
$12,339,357 $10.777,017 $11,160,297 $12,120,059 $12,439,987 511.844,589 $11,851,385
129
CITY OF ST. ANTHONY, MINNESOTA
CHANGES IN NET ASSETS
Last Seven Fiscal Years
(Accrual Basis of Accounting)
Table 2
Page 2 of 2
Fiscal Year
2005 2006 2007 2008 2009 2010 2011
Net (expense) revenue;
Governmental activities ($2,726,203) ($7,091,452) ($9,402,701) ($4,570,842) ($7,086,587) ($6,009,477) ($6,051,940)
Business -type activities 344,609 304,828 577,568 351,025 262,493 258,443 85,228
Total primary government
net (expense) revenue (2,381,594) (6,786,624) (8,825,133) (4,219,817) (6,824,094) (5,751,034) (5,966,712)
General revenues and other changes in net assets
Governmental activities:
Taxes:
Property taxes
Tax increment collections
Grants and contributions
Unrestricted investment earnings
Other
Gain on sale of capital assets
Transfers
Total governmental activities
Business -type activities:
Unrestricted investment earnings
Other
Transfers
Total business -type activities
Total primary government
Change in net assets:
Governmental activities
Business -type activities
Total primary government
$3,464,453
$3,668,503
$3,968,436
$4,118,365
$4,442,708
$4,750,440
$4,872,840
410,968
851,309
1,477,929
1,753,559
1,952,704
1,807,388
1,746,766
124,309
94,470
159,741
88,291
20,918
22,827
24,673
358,571
514,440
698,345
403,426
208,761
224,693
6,803
214,859
96,837
77,745
36,365
16,103
61,866
148,500
-
8,730
-
-
3,981
-
-
348,250
485,000
580,356
(1,514,827)
319,871
478,000
595,200
4,921,410
5,719,289
6,962,552
4,885,179
6,965,046
7,345,214
7,394,782
44,410
78,638 74,764
18,985
6,833 (336) 52,659
499
12,490 18,303
17,089
10,353 3,454 3,976
(348,250)
(485,000) (580,356)
1,514,827
(319,871) (478,000) (595,200)
(303,341)
(393,872) (487,289)
1,550,901
(302,685) (474,882) (538,565)
$4,618,069 $5,325,417 $6,475,263 $6,436,080 $6,662,361 $6,870,332 $6,856,217
$2,195,207 ($1,372,163) ($2,440,149) $314,337 ($121,541) $1,335,737 $1,342,842
41,268 (89,044) 90,279 1,901,926 (40,192) (216,439) (453,337)
$2,236,475 ($1,461,207) ($2,349,870) $2,216,263 ($161,733) $1,119,298 $889,505
Comparable GASB Statement 34 information is available for years beginning in 2005; the City has chosen to provide
information for that year forward. Ultimately, this table will contain information for ten years.
(') In 2011 the Water Filtration and Purification fund was reclassified to the Water and Sewer Proprietary Fund.
130
CITY OF ST. ANTHONY, MINNESOTA
Reserved
$5,537,424 $5,564,131 $4,116,654 $3,595,470
I FUND BALANCES - GOVERNMENTAL FUNDS
$4,625,111
$ -
Unreserved, reported in:
Table 3
Last Seven Fiscal Years
Special revenue funds
5,399,955 5,335,977 5,650,265 5,576,157
5,329,291
5,212,683
Capital projects funds
r (Modified Accrual Basis of Accounting)
314,789
243,408
-
Nonspendable
- - - -
-
I
132
Restricted
Fiscal Year
-
-
6,868,120
2005
2006
2007
2008
2009
2010
2011
General Fund:
-
763,667
Unassigned
- - - -
-
-
Reserved $39,805
$44,852
$46,543
$51,205
$53,849
$57,430
$ -
Unreserved 1,147,914
1,237,373
1,391,816
1,389,299
1,471,584
1,567,270
-
Nonspendable -
-
-
-
-
-
55,271
Unassigned -
-
-
-
-
-
1,647,566
I Total general fund $1,187,719
$1,282,225
$1,438,359
$1,440,504
$1,525,433
$1,624,700
$1,702,837
All other governmental funds:
Reserved
$5,537,424 $5,564,131 $4,116,654 $3,595,470
$6,264,349
$4,625,111
$ -
Unreserved, reported in:
Special revenue funds
5,399,955 5,335,977 5,650,265 5,576,157
5,329,291
5,212,683
Capital projects funds
894,116 1,500,372 695,197 967,355
314,789
243,408
-
Nonspendable
- - - -
-
-
132
Restricted
- - - -
-
-
6,868,120
Committed
- - - -
-
-
210,953
Assigned
- - - -
-
-
763,667
Unassigned
- - - -
-
-
(1,240,578)
Total all other
governmental funds
$11,831,495 $12,400,480 $10,462,116 $10,138,982
$11,908,429
$10,081,202
$6,602,294
Comparable GASB Statement 34
information is available for years beginning in 2005; the City has chosen
to provide
information for that year forward.
Ultimately, this table will contain information for ten years.
Note:
The City implemented GASB Statement No. 54 for the fiscal year ended December 31, 2011, resulting in significant reclassification
of the components of fund balances.
131
CITY OF ST. ANTHONY, MINNESOTA
CHANGES IN FUND BALANCES - GOVERNMENTAL FUNDS
Last Seven Fiscal Years
(Modified Accrual Basis of Accounting)
Table 4
Page 1 of 2
132
Fiscal Year
2005
2006
2007
2008
2009
2010
201111
Revenues:
General property taxes
$3,430,286
$3,649,764
$3,957,749
$4,097,493
$4,407,221
$4,787,076
$4,877,268
Tax increment collections
410,968
851,309
1,469,532
1,682,549
1,903,840
1,911,678
1,708,873
Licenses, fees and permits
548,972
244,170
213,842
247,878
358,381
224,096
195,563
Intergovernmental
1,201,555
954,911
706,080
2,039,592
1,430,366
1,239,053
861,744
Special assessments
1,548,836
589,812
441,327
385,197
506,262
398,895
517,678
Charges for services
1,057,781
1,113,298
1,403,419
1,451,925
1,519,427
1,528,210
1,573,975
Cable franchise fees
69,577
70,737
85,162
92,606
92,309
92,786
96,608
Fines and forfeits
101,273
135,960
164,788
139,421
122,870
128,165.
117,835
Investment income
354,749
507,615
689,428
400,038
184,053
224,598
6,792
Contributions and donations
-
6,300
37,100
3,950
3,450
2,834
610
Miscellaneous
540,229
511,851
404,611
186,449
53,354
708,181
148,500
Total revenues
9,264,226
8,635,727
9,573,038
10,727,098
10,581,533
11,245,572
10,105,446
Expenditures:
Current:
General government
776,110
952,291
945,295
1,076,699
1,017,405
1,170,630
883,478
Public safety
2,119,568
2,255,783
2,165,891
2,446,434
2,654,708
2,615,752
2,700,328
Public works
772,565
759,254
809,751
679,269
761,530
726,064
684,761
Parks and recreation
1,467,289
783,791
428,341
394,673
401,787
388,808
366,153
Services to other cities
606,952
649,625
911,419
940,807
1,026,842
1,016,479
1,039,009
Nondepartmental
5,228
1,501
48,735
23,387
6,798
6,940
22,283
Housing and redevelopment
424,273
439,422
173,098
212,583
191,608
183,513
227,921
Capital outlay:
General government
572
6,389
125
-
-
-
12,661
Public safety
139,648
229,174
12,993
-
-
67,850
152,405
Public works
31,040
21,056
316,264
318,668
271,459
212,029
112,158
Parks and recreation
-
19,712
-
-
-
-
-
Debt service:
Principal retirement
1,495,000
4,765,000
2,195,000
2,305,000
1,970,000
4,255,000
3,120,000
Interest
997,352
1,022,069
1,313,578
1,450,248
1,369,280
1,392,608
1,271,549
Paying agent fees
14,386
9,373
11,501
10,601
9,519
8,763
11,582
Professional service
16,097
9,140
1,901
5,080
5,077
3,117
30,109
Issuance costs
-
-
208,545
-
49,420
-
67,278
Construction/acquisition costs
2,901,864
2,108,395
5,366,376
3,419,607
4,789,180
2,420,767
1,953,923
Developer incentives
-
2,769,938
3,592,385
323,485
443,092
470,632
444,013
District decertified - repayment
of tax increments
-
36,580
-
-
-
-
Total expenditures
11,767,944
16,838,493
18,501,198
13,606,541
14,967,705
14,938,952
13,099,611
Revenues over (under) expenditures
(2,503,718)
(8,202,766)
(8,928,160)
(2,879,443)
(4,386,172)
(3,693,380)
(2,994,165)
132
CITY OF ST- ANTHONY, MINNESOTA
CHANGES IN FUND BALANCES - GOVERNMENTAL FUNDS
Last Seven Fiscal Years
(Modified Accrual Basis of Accounting)
I
Table 4
Page 2 of 2
Fiscal Year
2005
2006
2007
2008
2009
2010
2011
i Other financing sources (uses):
' Bonds issued
$1,695,000
$8,165,000
$6,690,000
$1,910,000
$3,965,000
$1,375,000
$1,940,000
Refunding bonds issued
-
-
-
-
2,855,000
-
3,225,000
Redemption of refunded bonds
-
-
-
-
(1,210,000)
-
(1,030,000)
Premium on debt issued
-
30,669
-
8,749
140,492
402
105,598
Discount on debt issued
-
(3,069)
(213)
-
-
-
-
Sale of capital assets
12,852
18,855
8,744
14,705
12,056
15,347
9,982
1 Transfers in
467,022
1,775,848
4,275,129
1,832,828
1,307,574
3,634,584
595,200
Transfers out
(118,772)
(1,290,848)
(3,827,825)
(1,207,828)
(829,574)
(3,156,584)
-
Total other financing
1 sources(uses)
2,056,102
8,696,455
7,145,835
2,558,454
6,240,548
1,868,749
4,845,780
Net change in fund balance
g
($447,616)
$493,689
($1,782,325)
($320,989)
$1,854,376
($1,824,631)
$1,851,615
' Debt service as a percentage of
jnoncapital expenditures
28.7%
40.0%
27.4%
38.1%
33.7%
46.1%
40.4%
Debt service as percentage of total expenditures
21.2%
34.4%
19.0%
27.6%
22.3%
37.8%
33.5%
Comparable GASB Statement 34 information is available for years beginning in 2005; the City has chosen to provide
information for that year forward. Ultimately, this table will contain information for ten years.
10In 2011 the Water Filtration and Purification fund was reclassified to the Water and Sewer Proprietary Fund.
L
1 133
L
CITY OF ST. ANTHONY, MINNESOTA
TAX CAPACITY VALUE AND ESTIMATED MARKET VALUE OF TAXABLE PROPERTY Table 5
Last Ten Fiscal Years
Source: Official Statements for the City of St. Anthony. (Hennepin and Ramsey Counties Combined)
* A complete breakdown of tax capacity was not available, these numbers have been estimated by considering total tax capacity and
the related percentage breakdown from the previous year.
** The Minnesota Legislature reduced some of the "class rates" used to calculate tax capacity values in levy years 1998,1999 and 2001.
The lower rates reduce the amount of Taxable Market Value that converts to value for the calculation of property taxes and tax rates.
134
Commercial/
Total
Fiscal
Adjusted
Total
Estimated
Tax Capacity
Payable
Residential
Industrial
All
Tax
Disparity
Tax Capacity
Direct Tax
Market
as a Percent
Year
Property
Property
Other
Capacity
Contribution
Value
Rate
Value
ofEMV
2002
3,979,387
* 1,467,645 *
86,976
* 5,534,008
(319,514)
5,214,494
50.33%
460,129,700
1.13% **
2003
4,703,934
1,307,337
66,005
6,077,276
(318,956)
5,758,320
47.05%
520,877,700
1.11%
2004
5,061,743
1,387,360
67,875
6,516,978
220,246
6,737,224
52.01%
576,666,300
1.17%
2005
5,758,863
1,509,783
70,799
7,339,445
(30,542)
7,308,903
50.31%
636,972,900
1.15%
2006
6,449,616
2,001,921
65,285
8,516,822
(391,888)
8,124,934
46.58%
730,541,000
1.11%
2007
7,894,132
2,575,759 *
64,903
10,534,794
(1,374,734)
9,190,060
45.62%
893,542,800
1.03%
2008
7,537,190
2,684,972
67,599
10,289,761
(1,260,607)
9,029,154
51.61%
869,823,300
1.18%
2009
7,194,714
2,546,141
64,834
9,805,689
(1,106,369)
8,699,320
55.66%
828,631,600
1.18%
2010
6,734,706
2,398,897
71,265
9,204,868
(909,287)
8,295,581
59.89%
778,761,500
1.18%
2011
6,039,859
2,255,091
98,790
8,393,740
(815,258)
7,578,482
68.85%
739,475,900
1.14%
Source: Official Statements for the City of St. Anthony. (Hennepin and Ramsey Counties Combined)
* A complete breakdown of tax capacity was not available, these numbers have been estimated by considering total tax capacity and
the related percentage breakdown from the previous year.
** The Minnesota Legislature reduced some of the "class rates" used to calculate tax capacity values in levy years 1998,1999 and 2001.
The lower rates reduce the amount of Taxable Market Value that converts to value for the calculation of property taxes and tax rates.
134
M
CITY OF ST. ANTHONY, MINNESOTA
DIRECT AND OVERLAPPING PROPERTY TAX RATES Table 6
Last Ten Fiscal Years
City Overlapping Rates*
Fiscal Direct School Other Hennepin
Year Rate District Districts County
Total
2002 50.33% 18.37% ** 14.09% 50.41%
133.20%
2003 47.05% 14.93% 15.63% 50.61%
128.21%
2004 52.01% 22.10% 13.45% 47.32%
134.88%
2005 50.31% 19.33% 13.93% 44.17%
127.74%
2006 46.58% 21.78% 14.65% 41.02%
124.03%
2007 45.62% 19.73% 13.81% 38.57%
117.73%
2008 51.61% 32.04% 13.35% 40.41%
137.41%
2009 55.66% 32.72% 17.37% 42.06%
147.81%
2010 59.89% 36.48% 11.14% 45.84%
153.34%
2011 68.85% 38.32% 12.04% 48.23%
167.44%
Source: Official Statements for the City of St. Anthony (Hennepin County)
*Overlapping rates are those of local and county governments that apply to property owners within the City. Not all
overlapping rates apply to all City property owners; for example, although the county property tax rates apply to all
City property owners, other District rates apply only to the approximately one-third of City property owners whose
property is located within that District's geographic boundaries.
**The State of Minnesota enacted significant property tax reform measures in 2001. Among these measures were several
provisions which substantially reduced school district property tax levies, replacing the tax levy funds with state aid.
As a result, tax levies and tax rates for most school districts for taxes payable in 2002 are substantially less than the
comparable figures for prior years.
135
CITY OF ST. ANTHONY, MINNESOTA
PRINCIPAL PROPERTY TAXPAYERS Table 7
Current Year and Nine Years Ago
Source: Official Statements for the City of St. Anthony
136
2011
2002
Percentage
Percentage
Tax
of Total City
Tax
of Total City
Capacity
Capacity
Capacity
Capacity
Taxpayer
Value
Rank
Value
Value
Rank
Value
St. Anthony Retail Development
$747,742
1
8.12%
$ -
0.00%
St. Anthony Leased Housing Assoc.
300,150
2
3.26%
-
0.00%
Autumn Woods Partnership LP
188,225
3
2.04%
-
0.00%
Equinox Properties LLC
176,890
4
1.92%
162,792
2
2.94%
St. Anthony Shopping Center
95,250
5
1.03%
42,850
10
0.77%
Xcel Energy
86,352
6
0.00%
69,544
6
1.26%
LG Anderson LLC/Apache Medical
84,750
7
0.92%
47,194
8
0.85%
St. Anthony Nursing Home LP
78,364
8
0.85%
209,186
2
3.78%
Chandler Place LP
78,213
9
0.85%
107,100
4
1.94%
Landau -3925 Pleasant
75,086
9
0.82%
-
0.00%
Landau Pleasant LLC
75,086
10
0.82%
-
0.00%
Glaser Financial Group Inc.
-
0.00%
304,344
1
5.50%
Village North
-
0.00%
-
0.00%
St. Anthony Business Center
-
0.00%
42,850
9
0.77%
SuperValu
-
0.00%
125,334
3
2.26%
Welsh Companies
-
0.00%
58,150
7
1.05%
Individual
-
0.00%
-
0.00%
Total
$1,986,108
20.63%
$1,169,344
21.12%
Total All Property
$9,204,868
$5,534,008
Source: Official Statements for the City of St. Anthony
136
CITY OF ST. ANTHONY, MINNESOTA
PROPERTY TAX LEVIES AND COLLECTIONS
Last Ten Fiscal Years
Table 8
Fiscal
Taxes
Collected Within The
Collections
Year
Levied
Fiscal Year
of the Levy
in
Total Collections to Date
Ended
For The
Percentage
Subsequent
Percentage
December 31,
Fiscal Year
Amount
of Levy (1)
Years
Amount
of Levy
2002
$2,634,866
$2,625,911
99.66%
$7,923
$2,633,834
99.96%
2003
2,731,541
2,721,724
99.64%
8,129
2,729,853
99.94%
2004
3,370,364
3,349,081
99.37%
12,095
3,361,176
99.73%
2005
3,689,759
3,655,463
99.07%
31,990
3,687,453
99.94%
2006
3,812,957
3,776,369
99.04%
35,404
3,811,773
99.97%
2007
4,123,032
4,079,891
98.95%
30,447
4,110,338
99.69%
2008
4,169,941 czl
4,088,462
98.05%
47,261
4,135,723
99.18%
2009
4,465,113 tz)
4,352,222
97.47%
44,509
4,396,731
98.47%
2010
4,642,067 (2)
4,566,162
98.36%
40,209
4,606,371
99.23%
2011
4,761,665 cxl
4,710,258
98.92%
-
4,710,258
98.92%
(i) Beginning with payable year 2002 through 2007, Market Value Homestead Credit is included in the operating levy.
(z) Net of Market Value Homestad Credit which was subject to State unallotments or other reductions.
Sources: 2001 - 2004 Official Statements for the City of St. Anthony
2005 - 2010 St. Anthony Finance Department
137
CITY OF ST. ANTHONY, MINNESOTA
RATIOS OF OUTSTANDING DEBT BY TYPE
Last Seven Fiscal Years
Governmental Activities
Note: Details regarding the City's outstanding debt can be found in the notes to the financial statements
Source: St. Anthony Finance Department
*Per Capita data is based on a 2010 population of 8,226.
Information is not available for years prior to 2005.
138
General
Tax
Total
Percentage
Fiscal
Obligation
Improvement
Increment
Revenue
Fannie
Governmental
of Adjusted
Year
Bonds
Bonds
Bonds
Bonds
Mae Loan
Activities
Tax Capacity
2005
$1,435,000
$11,210,000
$2,355,000
$6,600,000
$3,350,000
$24,950,000
341.36%
2006
1,245,000
11,300,000
6,145,000
6,310,000
3,350,000
$28,350,000
348.93%
2007
1,055,000
12,675,000
10,605,000
6,010,000
2,500,000
$32,845,000
358.57%
2008
945,000
13,015,000
10,375,000
5,615,000
2,500,000
$32,450,000
359.39%
2009
825,000
16,220,000
10,055,000
6,940,000
2,050,000
$36,090,000
414.86%
2010
695,000
15,260,000
9,710,000
6,295,000
1,250,000
$33,210,000
400.33%
2011
565,000
18,355,000
9,345,000
5,960,000
-
$34,225,000
451.61%
Note: Details regarding the City's outstanding debt can be found in the notes to the financial statements
Source: St. Anthony Finance Department
*Per Capita data is based on a 2010 population of 8,226.
Information is not available for years prior to 2005.
138
Business -Type Activities
Sewer/ Liquor Total
Water Revenue Business -Type
U, 12.:,000
2,050,000
1,975,000
1,895,000
1,815,000
1,730,000
1,640,000
�4Y),000
425,000
350,000
270,000
185,000
95,000
T2,6ZU,000
2,475,000
2,325,000
2,165,000
2,000,000
1,825,000
1,640,000
Sewer/
Water
Bonds Total
Per Primary
139
�19SZ
$2/,5/U,000
896
30,825,000
1,070
35,170,000
824
34,615,000
789
38,090,000
752
35,035,000
713
35,865,000
Table 9
Percentage
of Personal
Per
Income n)
Capita*
N/A
$3,357
N/A
3,924
N/A
3,847
N/A
3,818
N/A
4,278
N/A
4,037
N/A
4,161
CITY OF ST. ANTHONY, MINNESOTA
DIRECT AND OVERLAPPING GOVERNMENTAL ACTIVITIES DEBT
As of December 31, 2011
Governmental Unit
Debt repaid with property taxes: (1)
School Districts:
ISD No. 282
NE Metro Intermediate School District No. 916
Counties:
Hennepin
Ramsey
Other:
Metropolitan Council
Three Rivers Park District
Subtotal - overlapping debt
City direct debt (Z)
Table 10
Estimated
Estimated Share of
Debt Percentage Overlapping
Outstanding Applicable* Debt
$23,515,000
84.4291%
$19,853,508
732,745,000
0.4031%
2,953,715
170,590,000
0.4561%
778,014
168,665,000
0.2372%
400,073
62,755,000
0.5502%
345,291
24,330,601
25,260,000
Total direct and overlapping debt $49,590,601
Sources: (') Official Statements for City of St. Anthony
(a) St. Anthony Finance Department
Note: Overlapping governments are those that coincide, at least in part, with the geographic boundaries of the City. This
schedule estimates the portion of the outstanding debt of those overlapping governments that is borne by the residents
and businesses of the City. This process recognizes that, when considering the City's ability to issue and repay long-term
debt, the entire debt burden borne by the residents and businesses should be taken into account. However, this does not
imply that every taxpayer is a resident, and therefore responsible for repaying the debt, of each overlapping government.
*For debt repaid with property taxes, the percentage of overlapping debt applicable is estimated using taxable assessed
property values. Applicable percentages were estimated by determining the portion of another governmental unit's taxable
assessed value that is within the City's boundaries and dividing it by each unit's total taxable assessed value.
140
CITY OF ST. ANTHONY, MINNESOTA
LEGAL DEBT MARGIN INFORMATION Table 11
Last Seven Fiscal Years
i
Legal Debt Margin Calculation for Fiscal Year 2011
Market value
$739,475,900
Debt limit (3% of market value)
22,184,277
Debt applicable to limit:
General obligation bonds
5,820,000
Less: Amount set aside for repayment
of general obligation debt
(1,111,699)
Total net debt applicable to limit
4,708,301
Legal debt margin
$17,475,976
2005* 2006* 2007* 2008 2009 2010 2011
Debt limit $13,406,318 $14,610,820 $17,870,856 $26,094,699 $24,778,098 $23,262,423 $22,184,277
Total net debt applicable to limit 4,776,007 4,429,013 4,099,637 5,741,849 5,410,204 5,059,006 4,708,301
Legal debt margin $8,630,311 $10,181,807 $13,771,219 $20,352,850 $19,367,894 $18,203,417 $17,475,976
Total net debt applicable to the limit as a
percentage of debt limit 35.63% 30.31% 30.31% 22.00% 21.83% 21.75% 21.22%
Source: Market Value - Hennepin County and Ramsey County, Minnesota Assessor's Offices
Information is not available for years prior to 2005.
*Debt limit was 2% of market value.
L 141
CITY OF ST. ANTHONY, MINNESOTA
PLEDGED REVENUE COVERAGE
Last Seven Fiscal Years
Note: Details regarding the City's outstanding debt can be found in the notes to the financial statements. Operating
expenses do not include interest, depreciation, or amortization expenses.
Information is not available for years prior to 2005.
142
Storm Sewer Revenue Bonds
Utility
Less
Net
Fiscal
Service
Operating
Available
Debt Service
Year
Charges
Expenses
Revenue
Principal Interest
Coverage
2005
$163,951
$ -
$163,951
$95,000
$68,448
100%
2006
169,255
-
169,255
100,000
63,670
103%
2007
167,373
-
167,373
105,000
58,595
102%
2008
167,373
-
167,373
110,000
53,220
103%
2009
167,793
-
167,793
120,000
40,103
105%
2010
150,431
-
150,431
130,000
28,575
95%
2011
150,833
-
150,833
130,000
18,900
101%
Note: Details regarding the City's outstanding debt can be found in the notes to the financial statements. Operating
expenses do not include interest, depreciation, or amortization expenses.
Information is not available for years prior to 2005.
142
Table 12
Page 1 of 2
143
Water and Sewer Revenue Bonds
Utility
Less
Net
Service
Operating
Available
Debt Service
Charges
Expenses
Revenue
Principal
Interest
Coverage
$1,527,505
$1,210,943
$316,562
$75,000
$82,195
201%
1,556,004
1,387,657
168,347
75,000
80,694
108%
1,691,871
1,480,228
211,643
75,000
78,750
138%
1,615,721
1,576,269
39,452
80,000
77,236
25%
1,583,317
1,699,919
(116,602)
80,000
75,056
(75%)
1,575,514
1,708,839
(133,325)
85,000
71,093
(850/.)
1,588,190
1,753,661
(165,471)
90,000
68,064
(105%)
143
CITY OF ST. ANTHONY, MINNESOTA
PLEDGED REVENUE COVERAGE
Last Seven Fiscal Years
Note: Details regarding the City's outstanding debt can be found in the notes to the financial statements. Operating
expenses do not include interest, or amortization expenses.
Information is not available for years prior to 2005.
144
Liquor Revenue Bonds
Less
Net
Fiscal
Net Sales
Operating
Available
Debt Service
Year
(Gross Profit)
Expenses
Revenue
Principal
Interest
Coverage
2005
$1,169,359
$766,082
$403,277
$65,000
$32,150
415%
2006
1,362,796
839,959
522,837
70,000
29,619
525%
2007
1,475,679
985,377
490,302
75,000
24,438
493%
2008
1,475,173
1,049,110
426,063
80,000
20,125
426%
2009
1,543,854
1,058,977
484,877
85,000
15,525
482%
2010
1,594,829
1,106,675
488,154
90,000
10,638
485%
2011
1,654,205
1,163,167
491,039
95,000
5,463
489%
Note: Details regarding the City's outstanding debt can be found in the notes to the financial statements. Operating
expenses do not include interest, or amortization expenses.
Information is not available for years prior to 2005.
144
Table 12
Page 2 of 2
t
145
Improvement Bonds
Tax Increment Bonds
Special
Tax
iAssessment
Debt Service
Increment
Debt Service
Collections
Principal
Interest
Coverage
Collections
Principal
Interest
Coverage
$1,548,836
I
$485,000
$323,582
192%
$410,968
$105,000
$145,381
164%
589,812
3,100,000
390,118
17%
851,309
1,185,000
95,263
66%
i 441,327
675,000
480,360
38%
1,469,532
180,000
384,296
260%
385,197
1,570,000
495,649
19%
1,682,549
230,000
538,369
219%
506,262
760,000
430,947
43%
1,903,840
320,000
526,949
225%
398,895
2,235,000
499,506
15%
1,911,678
345,000
512,504
223%
-
2,070,000
532,400
0%
-
365,000
496,588
0%
t
145
CITY OF ST. ANTHONY, MINNESOTA
DEMOGRAPHIC AND ECONOMIC STATISTICS
Last Ten Fiscal Years
Table 13
Sources:
2�1 Information is not tracked on a yearly basis for individual cities. Data for Hennepin County was used.
Source - Hennepin County
(2) Information not available is labeled N/A.
(3) Official Statements for the City of St. Anthony
(4) Metropolitan Council Estimate
(5) 2010 US Census Results
146
Per
Capita
Fiscal
Personal
Personal
Unemployment
Year
Population (3)
Income (2) (3)
IncomeM
Rate(n
2002
8,012
$352,090,233
$43,907
4.60%
2003
8,012
363,296,128
45,344
4.80%
2004
8,012
385,272,855
48,045
4.50%
2005
8,012
N/A
N/A
3.40%
2006
8,012
N/A
N/A
3.60%
2007
8,361
N/A
N/A
4.20%
2008
8,361
N/A
N/A
5.00%
2009
8,437
N/A
N/A
6.80%
2010
8,514 (4)
N/A
N/A
6.50%
2011
8,226 (s)
N/A
N/A
5.30%
Sources:
2�1 Information is not tracked on a yearly basis for individual cities. Data for Hennepin County was used.
Source - Hennepin County
(2) Information not available is labeled N/A.
(3) Official Statements for the City of St. Anthony
(4) Metropolitan Council Estimate
(5) 2010 US Census Results
146
I
L
CITY OF ST. ANTHONY, MINNESOTA
PRINCIPAL EMPLOYERS Table 14
Current Year and Nine Years Ago
Total 1,433 1,020
* Data is not available for more than the top ten employers in 2011.
Source: Official Statements for the City of St. Anthony
147
2011*
2002
Employer
Employees
Rank
Employees
Rank
ISD No. 282 (St. Anthony - New Brighton)
300
1
248
1
Cub Foods
250
2
191
3
Wal-Mart
250
3
-
-
St. Anthony Health Center and Chandler Place
200
4
215
2
City of St. Anthony
132
5
132
4
B&F Fastener Supply
100
6
-
-
St. Charles Borromeo Parish
57
7
49
8
Happy's Potato Chip Company
56
8
50
7
Applebee's
45
9
-
-
Culver's
43
10
-
-
Chandler Place
-
-
75
5
Herbergers
-
-
60
6
Total 1,433 1,020
* Data is not available for more than the top ten employers in 2011.
Source: Official Statements for the City of St. Anthony
147
CITY OF ST. ANTHONY, MINNESOTA
FULL-TIME EQUIVALENT CITY GOVERNMENT EMPLOYEES BY FUNCTION / PROGRAM
Last Ten Fiscal Years
Function/Program
General government:
Administration
Finance
Police:
Officers
Support staff
Community service officer
Volunteers (non -paid)
Fire:
Firefighters
Volunteers (paid on call)
Public works:
Administration
Street
Park
Water/Sewer
Mechanic
Seasonal*
Liquor operations:
Off -sale:
Full-time
Market Place - part-time
Silver Lake Village - part-time
On -sale:
Full-time
Stonehouse - part-time
Total
Full -Time Equivalent Employees as of December 31, 2011
2002 2003 2004
3.00
3.00
3.00
4.50
4.50
4.50
20.00
20.00
20.00
2.00
2.00
2.00
1.00
0.50
0.50
12.00
12.00
12.00
7.00
7.00
7.00
3.00
3.00
3.00
2.00
2.00
2.00
5.00
5.00
5.00
2.00
2.00
3.00
2.00
2.00
2.00
1.00
1.00
1.00
2.25
2.25
2.25
4.00
5.00
5.00
5.25
5.25
5.25
5.25
5.25
5.25
4
9
94.00 81.75 82.75
* Historical number adjusted to reflect Full -Time Equivalent versus actual head count
Source: City of St. Anthony
148
Table 15
Full -Time Eauivalen[ Emolovees as of December 31.2011
3.00
3.00
3.00
3.00
3.00
3.00
3.00
4.50
4.50
4.50
4.75
4.75
4.75
4.50
20.00
20.00
22.00
23.00
23.00
23.00
23.00
2.00
2.00
2.00
2.50
2.50
2.50
2.50
0.50
0.50
1.00
1.00
1.00
1.00
1.00
12.00
12.00
12.00
12.00
12.00
12.00
12.00
7.00
7.00
7.00
7.00
7.00
7.00
7.00
3.00
3.00
3.00
3.00
3.00
3.00
3.00
2.00
2.00
2.00
2.00
2.00
2.00
2.00
6.00
6.00
6.00
6.00
6.00
6.00
5.00
3.00
3.00
3.00
3.00
3.00
3.00
3.00
2.00
2.00
2.00
2.00
2.00
2.00
2.00
1.00
1.00
1.00
1.00
1.00
1.00
1.00
2.25
2.25
2.25
2.00
2.00
2.00
2.00
4.00
4.00
4.00
4.00
4.00
4.00
4.00
5.25
5.25
5.25
5.25
5.25
6.00
6.00
5.25
5.25
5.25
5.25
5.25
6.00
6.00
82.75
86.75
87.00
82.75
85.25
86.75
88.25
149
CITY OF ST. ANTHONY, MINNESOTA
OPERATING INDICATORS BY FUNCTION / PROGRAM
Last Ten Fiscal Years
Function/Program
Police: *
Moving violation
Non-moving violations
DWI
Traffic arrests
Gross and misdemeanor arrests
Felony arrests
Warrant arrests
Fire:
Emergency responses
Medical responses
Fires
Inspections **
Building inspection:
Permits issued
Other public works:
Street resurfacing (miles)
Potholes filled (tons)
Water:
New connections
Water mains breaks
Average daily consumption (thousands of gallons)
Peak daily consumption (thousands of gallons)
* Police statistics are for St Anthony only
** Began monitoring inspection in 2006
Source: City of St. Anthony
150
Fiscal Year
1,833
1,772
2,072
527
601
544
25
37
60
461
400
587
160
179
150
37
52
32
32
31
31
885
901
925
576
568
586
46
47
46
**
**
**
313
277
341
1
1
1
10
8
8
7
876
1,495
10
961
1,278
8
898
1,601
L.
L.
L
Table 16
15]
Fiscal Year
2005
2006
2007
2008
2009
2010
2011
1,560
2,246
2,357
2,137
2,008
2,305
1,848
501
632
627
494
351
397
210
56
114
26
61
59
49
44
515
750
831
815
770
600
673
181
162
158
203
193
129
145
54
67
45
44
32
29
46
23
22
29
32
32
28
28
1,043
980
976
1,055
996
956
976
646
704
696
768
718
895
894
47
28
40
89
68
34
35
**
197
78
81
92
97
121
346
292
255
262
283
315
336
1
1
2
2
1
1
2
7
5
35
20
80
22
100
-
14
16
10
-
-
-
10
3
32
8
9
11
10
903
922
990
902
885
806
821
2,192
2,454
2,500
2,157
2,295
1,396
1,586
15]
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