HomeMy WebLinkAbout2020 CAFR
COMPREHENSIVE ANNUAL FINANCIAL REPORT
OF THE
CITY OF ST. ANTHONY, MINNESOTA
FOR THE YEAR ENDED
DECEMBER 31, 2020
Prepared By:
Finance Department
Shelly Rueckert,
Finance Director
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CITY OF ST. ANTHONY, MINNESOTA
TABLE OF CONTENTS
Page
Reference No.
Letter of Transmittal 3
Organization 9
Organizational Chart 10
Independent Auditor's Report 13
Management's Discussion and Analysis 17
Basic Financial Statements:
Government-Wide Financial Statements:
Statement of Net Position Statement 1 29
Statement of Activities Statement 2 30
Fund Financial Statements:
Balance Sheet - Governmental Funds Statement 3 32
Statement of Revenues, Expenditures and Changes in Fund Balance -
Governmental Funds Statement 4 34
Reconciliation of the Statement of Revenues, Expenditures and Changes in
Fund Balances of Governmental Funds Statement 5 36
Statement of Net Position - Proprietary Funds Statement 6 37
Statement of Revenues, Expenses and Changes in Fund Net Position -
Proprietary Funds Statement 7 38
Statement of Cash Flows - Proprietary Funds Statement 8 39
Notes to Financial Statements 41
Required Supplementary Information:
Budgetary Comparison Schedule - General Fund Statement 9 88
Schedule of Changes in the City's Total OPEB Liability and Related Ratios Statement 10 93
Schedule of Proportionate Share of Net Pension Liability - General Employees
Retirement Fund Statement 11 94
Schedule of Pension Contributions - General Employees Retirement Fund Statement 12 95
Schedule of Proportionate Share of Net Pension Liability - Public Employees Police
and Fire Fund Statement 13 96
Schedule of Pension Contributions - Public Employees Police and Fire Fund Statement 14 97
Schedule of Changes in the Net Pension Liability and Related Ratios -
St. Anthony Fire Department Relief Association Statement 15 98
Schedule of Contributions - St. Anthony Fire Department Relief Association Statement 16 99
Notes to RSI 101
II. FINANCIAL SECTION
CITY OF ST. ANTHONY, MINNESOTA
TABLE OF CONTENTS
Page
Reference No.
Combining and Individual Nonmajor Fund Financial Statements and Schedules:
Combining Balance Sheet - Nonmajor Governmental Funds Statement 17 108
Combining Statement of Revenues, Expenditures and Changes in Fund Balance -
Nonmajor Governmental Funds Statement 18 109
Subcombining Balance Sheet - Nonmajor Special Revenue Funds Statement 19 114
Subcombining Statement of Revenues, Expenditures and Changes in
Fund Balance - Nonmajor Special Revenue Funds Statement 20 116
Subcombining Balance Sheet - Nonmajor Debt Service Funds Statement 21 120
Subcombining Statement of Revenues, Expenditures and Changes in
Fund Balance - Nonmajor Debt Service Funds Statement 22 121
Subcombining Balance Sheet - Nonmajor Capital Project Funds Statement 23 124
Subcombining Statement of Revenues, Expenditures and Changes in
Fund Balance - Nonmajor Capital Project Funds Statement 24 125
Special Revenue Funds:
Schedules of Revenues, Expenditures and Changes in
Fund Balance - Budget and Actual:
Community Center Fund Statement 25 126
Police Forfeiture Fund Statement 26 127
Recycling Fund Statement 27 128
HRA Fund Statement 28 129
Fire Education/Training Fund Statement 29 130
Supplementary Financial Information:
Street Improvement Debt Service Fund:
Balance Sheet Exhibit 1 132
Schedule of Revenues, Expenditures and Changes in Fund Balance Exhibit 2 134
HRA TIF Improvements Fund:
Balance Sheet Exhibit 3 136
Schedule of Revenues, Expenditures and Changes in Fund Balance Exhibit 4 137
Street Improvement Project Fund:
Balance Sheet Exhibit 5 138
Schedule of Revenues, Expenditures and Changes in Fund Balance Exhibit 6 139
HRA TIF Debt Service Fund
Balance Sheet Exhibit 7 140
Schedule of Revenues, Expenditures and Changes in Fund Balance Exhibit 8 141
Water/Sewer/Water Plant Enterprise Fund:
Schedule of Revenues, Expenses and Changes in Fund Net Position Exhibit 9 142
CITY OF ST. ANTHONY, MINNESOTA
TABLE OF CONTENTS
Page
Reference No.
Financial Trends:
Net Position by Component Table 1 144
Changes in Net Position Table 2 146
Fund Balances - Governmental Funds Table 3 150
Changes in Fund Balances - Governmental Funds Table 4 152
Revenue Capacity:
Tax Capacity Value and Estimated Market Value of Taxable Property Table 5 154
Direct and Overlapping Property Tax Rates Table 6 155
Principal Property Taxpayers Table 7 156
Property Tax Levies and Collections Table 8 157
Debt Capacity:
Ratios of Outstanding Debt by Type Table 9 158
Direct and Overlapping Governmental Activities Debt Table 10 161
Legal Debt Margin Information Table 11 162
Pledged Revenue Coverage Table 12 164
Demographic and Economic:
Demographic and Economic Statistics Table 13 168
Principal Employers Table 14 169
Operating Information:
Full-Time Equivalent City Government Employees by Function/Program Table 15 170
Operating Indicators by Function/Program Table 16 172
Capital Asset Statistics by Function/Program Table 17 174
III. STATISTICAL SECTION (Unaudited)
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I. INTRODUCTORY SECTION
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Our mission is to be a progressive and welcoming
Village that is walkable, sustainable and safe
3301 Silver Lake Road, St. Anthony, MN 55418 612‐782‐3301 | www.savmn.com
June 11, 2021
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, 2020.
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.
Redpath and Company, Ltd., Certified Public Accountants, have issued an unmodified opinion
on the City of St. Anthony’s financial statements for the year ended December 31, 2020. 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. The MD&A complements this letter of transmittal and therefore should be read in
conjunction.
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 9,020.
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.
3
Our mission is to be a progressive and welcoming
Village that is walkable, sustainable and safe
3301 Silver Lake Road, St. Anthony, MN 55418 612‐782‐3301 | www.savmn.com
The City is served by Independent School District (ISD) #282 (St. Anthony), which has a
2020/2021 enrollment of approximately 1,700, 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 300 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, prevention and medical responses; 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 environmental sustainability programs.
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) & 8 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 30th. 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.
4
Our mission is to be a progressive and welcoming
Village that is walkable, sustainable and safe
3301 Silver Lake Road, St. Anthony, MN 55418 612‐782‐3301 | www.savmn.com
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). Transfers of appropriations between
departments 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 experiences redevelopment activity in commercial and industrial areas, along with the
construction of additional multi‐family residential units.
Capital Asset planning: The City maintains five capital funds for the replacement of
equipment and various infrastructure assets. Each fund is managed by a comprehensive 15 year
capital planning document. These documents include the City’s current buildings, park
improvements, operating equipment and fleet, along with future street, water, sanitary sewer
and stormwater improvements. These plans estimate the replacement dates and cost for current
and prospective equipment. Additionally the plans include projected future street, water,
sanitary sewer and stormwater reconstruction costs. The plans also identify the funding sources
for these capital expenditures. These sources include Capital and Building Improvement levies,
Enterprise funds operating income transfers, parkland dedication fees, stormwater charges,
water and sewer connection fees, grants and donations, State aids, cost sharing agreements,
bond proceeds and assessments.
The City combines the use of goal setting and a comprehensive budget process to identify and
prioritize City improvement projects. The 15‐year capital plans are updated annually by staff
and are approved by the City Council.
Debt Levy: In 2014, the City began a debt levy reduction program to stabilize the debt levy
growth, while continuing annual street reconstruction projects. The 2022 Street Improvement
project and resulting debt levy are included in the program and will result in a zero increase
debt levy for 2022.
5
Our mission is to be a progressive and welcoming
Village that is walkable, sustainable and safe
3301 Silver Lake Road, St. Anthony, MN 55418 612‐782‐3301 | www.savmn.com
A critical milestone in the debt levy reduction program will be reached in 2023, which is final
levy year for Lease Revenue Bonds, resulting in a sizable decrease in the debt levy
requirements. In March of this year, the City Council approved a model for a modified pace of
street improvements which will result in a reduction in the reliance on bond (debt) financing
and a transition to levy support of construction projects. This includes: transitioning the debt
levy (which includes interest costs) to an infrastructure levy and extending the proposed future
construction schedule with no street projects every third year. Resulting in a significantly
reduced amount of cumulative debt over the next 15 years. Again, the Infrastructure Levy will
fund a great portion of construction costs versus Bond financing. The model also provides
flexibility for unexpected levy demands in the future.
Cash management policies and practices: The City’s initial investment objective is to preserve
capital. Secondary considerations are liquidity and lastly yield. Accordingly, deposits are
either insured by federal depository insurance or collateralized. Temporary cash surpluses
during the year are invested in various securities defined by Minnesota Statutes. The City’s
policy is to invest 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.
SHARED SERVICES
Grants: Each year, the City actively participates in Federal, State and County administered
grants. In 2020 the Police, Fire, Public Works and Administration received a variety of public
safety, operating, equipment and infrastructure construction grants. A list of the grants
includes:
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Our mission is to be a progressive and welcoming
Village that is walkable, sustainable and safe
3301 Silver Lake Road, St. Anthony, MN 55418 612‐782‐3301 | www.savmn.com
A. Federal Government – CARES Act Funds.
B. Ramsey County – Safe and Sober Grant.
C. Minnesota Board of Firefighter Training & Education Grant.
D. Hennepin County Recycling Grant.
E. Hennepin County CARES Grant for Elections.
F. Minnesota Department of Health – Wellhead Protection Grant
G. Rice Creek Watershed District Grant for the Silver Lake Terrace and Silver
Lake Water Quality Improvement
Partnerships and Colleagues: The City partners with local businesses, civic organizations,
School District 282, Community Services and the Chamber of Commerce to provide a variety of
community safety and education programs. The City also has formed partnerships with
colleagues in other jurisdictions. These relationships include providing financial and human
resource services to the Middle Mississippi Water Management Organization, a fuel purchasing
arrangement with the City of New Brighton, utility billing services to the City of Birchwood
Village and police services to the City of Lauderdale. Lastly the City partners with County
infrastructure projects when opportunity arises. A recent example would be the coordination of
City utilities in to the Ramsey County reconstruction of County Road C.
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,
_________________________________
Charlie Yunker Shelly Rueckert
City Manager Finance Director
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CITY OF ST. ANTHONY, MINNESOTA
ORGANIZATION
Term Expires
Mayor:
Randy Stille December 31, 2023
Council Members:
Jan Jenson December 31, 2021
Thomas Randle December 31, 2023
Bernard Walker December 31, 2023
Wendy Webster December 31, 2021
City Manager:
Charlie Yunker Appointed
Finance Director:
Shelly Rueckert Appointed
December 31, 2020
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Administrative Services Coordinator
Engineer ‐ WSB & Associates Full‐Time Positions = 57
Financial ‐ Ehlers & Associates Part‐Time Positions = 50
Legal ‐ Dorsey & Whitney Public Works Seasonal = 10
Planner ‐ Northwest Associated Consultants, Inc. Police Reserves (Unpaid) = 12
Building Inspections ‐ City of New Brighton
Consultants
Parks Commission
City Manager
5 Full time Employees
25 Part time Employees
FINANCE
2020
ADMINISTRATION
7 Full time Employees
24 Part time Employees
MAYOR AND COUNCIL MEMBERS
Planning Commission
POLICE
St. Anthony Organizational Chart
LIQUOR OPERATIONS
Assistant to the City Manager
1 Shared Employee
23 Full time Employees5 Full time Employees
12 Reserve Officers
PUBLIC WORKS
14 Full time Employees
FIRE
10 Seasonal Employees
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II. FINANCIAL SECTION
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55 E 5th Street Suite 1400, St. Paul, MN, 55101 651.426.7000 www.redpathcpas.com
INDEPENDENT AUDITOR'S REPORT
To the Honorable Mayor and
Members of the City Council
City of St. Anthony, Minnesota
Report on the Financial Statements
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, 2020, and the related
notes to the financial statements, which collectively comprise the City of St. Anthony,
Minnesota’s basic financial statements as listed in the table of contents.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements
in accordance with accounting principles generally accepted in the United States of America; this
includes the design, implementation, and maintenance of internal control relevant to the
preparation and fair presentation of financial statements that are free from material misstatement,
whether due to fraud or error.
Auditor’s Responsibility
Our responsibility is to express opinions on these financial statements based on our audit. 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 from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and
disclosures in the financial statements. The procedures selected depend on the auditor’s
judgment, including the assessment of the risks of material misstatement of the financial
statements, whether due to fraud or error. In making those risk assessments, the auditor
considers internal control relevant to the entity’s preparation and fair presentation of the financial
statements in order to design audit procedures that are appropriate in the circumstances, but not
for the purpose of expressing an opinion on the effectiveness of the entity’s internal control.
Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness
of accounting policies used and the reasonableness of significant accounting estimates made by
management, as well as evaluating the overall presentation of the financial statements.
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We believe that the audit evidence we have obtained is sufficient and appropriate to provide a
basis for our audit opinions.
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, 2020, and the respective changes in financial position, and, where applicable,
cash flows thereof for the year then ended in accordance with accounting principles generally
accepted in the United States of America.
Report on Summarized Comparative Information
We have previously audited the City of St. Anthony, Minnesota’s 2019 financial statements, and
we expressed an unmodified audit opinion on the respective financial statements of the
governmental activities, the business-type activities, each major fund, and the aggregate
remaining fund information in our report dated June 16, 2020. In our opinion, the summarized
comparative information presented herein as of and for the year ended December 31, 2019 is
consistent, in all material respects, with the audited financial statements from which it has been
derived.
Other Matters
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the
management’s discussion and analysis, the budgetary comparison schedule, and the schedules of
OPEB and pension information, as listed in the table of contents, 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.
14
Other Information
Our audit was conducted for the purpose of forming opinions on the financial statements that
collectively comprise the City of St. Anthony, Minnesota’s basic financial statements. The
introductory section, combining and individual nonmajor fund financial statements and
schedules, supplementary financial information, and statistical section are presented for purposes
of additional analysis and are not a required part of the basic financial statements.
The combining and individual nonmajor fund financial statements and schedules and the
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 basic
financial statements. Such information has been subjected to the auditing procedures applied in
the audit of the basic financial statements and certain additional procedures, including comparing
and reconciling such information directly to the underlying accounting and other records used to
prepare the basic financial statements or to the basic financial statements themselves, and other
additional procedures in accordance with auditing standards generally accepted in the United
States of America. In our opinion, the combining and individual nonmajor fund financial
statements and schedules and the supplementary financial information are fairly stated in all
material respects in relation to the basic 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.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated
June 11, 2021, 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 solely 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 the effectiveness of the City of St.
Anthony, Minnesota’s internal control over financial reporting or on compliance. That report is
an integral part of an audit performed in accordance with Government Auditing Standards in
considering the City of St. Anthony, Minnesota’s internal control over financial reporting and
compliance.
REDPATH AND COMPANY, LTD.
St. Paul, Minnesota
June 11, 2021
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MANAGEMENT’S DISCUSSION AND ANALYSIS
As management of the City of St. Anthony, Minnesota (the City), we offer readers of the City’s
financial statements this narrative overview and analysis of the financial activities of the City for
the fiscal year ended December 31, 2020. We encourage readers to consider the information
presented here in conjunction with additional information that we have furnished in our letter of
transmittal, which can be found in the Introductory Section of this report.
Financial Highlights
The assets and deferred outflows of resources of the City exceeded its liabilities and deferred
inflows of resources at the close of the most recent fiscal year by $44,066,473 (net position).
The City’s total net position increased by $3,890,598 from the prior year’s stated net
position.
As of the close of the current fiscal year, the City’s governmental funds reported combined
ending fund balances of $17,547,842, an increase of $3,065,736 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
$3,238,208 or 44% of total General Fund Budget expenditures.
The City’s total bonded debt increased by $100,000 during the current fiscal year. The key
factors in this decrease were: 1) principal retirement of $2,900,000 and 2) the issuance of
$3,000,000 of 2020A General Obligation Bonds.
Overview of the Financial Statements
This discussion and analysis is intended to serve as an introduction to the City’s basic financial
statements. The City’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’s finances, in a manner similar to
a private-sector business.
The statement of net position presents information on all of the City’s assets and liabilities, with
the difference between the two reported as net position. Over time, increases or decreases in net
position may serve as a useful indicator of whether the financial position of the City is improving
or deteriorating.
The statement of activities presents information showing how the City’s net position changed
during the most recent fiscal year. All changes in net position 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 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
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fees and charges (business-type activities). The governmental activities of the City include
general government, public safety, public works, parks and recreation, services to other cities
and HRA activities. The business-type activities of the City 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 itself (known
as the primary government), but also a legally separate Housing and Redevelopment Authority
(HRA) for which the City of St. Anthony is financially accountable. The HRA functions for all
practical purposes as a department of the City of St. Anthony, 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. A fund 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,
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 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 outflows of spendable resources, as well as on balances of spendable
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.
The City maintains 19 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 TIF Improvements, Street Improvement Projects and Public Utilities Infrastructure, all of
which are considered to be major funds. Data from the other 14 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 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.
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Proprietary funds. The City 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 uses enterprise funds to account for its water
and sewer, storm water, and municipal liquor operations. Internal service funds are an
accounting device used to accumulate and allocate costs internally among the City various
functions. The City uses an internal service fund to account for its compensated absences, OPEB
and pension benefits. 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, storm water, and municipal liquor operations, which are
considered to be major funds of the City.
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 8 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, OPEB and pension information. Combining and individual fund statements and
schedules can be found on Statements 17 through 24 of this report.
Government-wide Financial Analysis
As noted earlier, net position may serve over time as a useful indicator of a City’s financial
position. Assets and deferred outflows of resources exceeded liabilities and deferred inflows of
resources by $44,066,473 at the close of the most recent fiscal year.
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City of St. Anthony, Minnesota’s Net Position
Governmental Activities Business-Type Activities Totals
2020 2019 2020 2019 2020 2019
Current and other assets $21,508,654 $18,034,604 $4,691,115 $4,207,251 $26,199,769 $22,241,855
Capital assets 33,885,667 33,162,734 24,315,166 25,259,110 58,200,833 58,421,844
Total assets $55,394,321 $51,197,338 $29,006,281 $29,466,361 $84,400,602 $80,663,699
Total deferred outflows of resources $1,936,317 $2,806,776 $0 $0 $1,936,317 $2,806,776
Long term liabilities outstanding $35,951,705 $35,346,194 $791,392 $929,986 $36,743,097 $36,276,180
Other liabilities 1,825,400 1,650,866 421,610 440,794 2,247,010 2,091,660
Total liabilities $37,777,105 $36,997,060 $1,213,002 $1,370,780 $38,990,107 $38,367,840
Total deferred inflows of resources $3,280,339 $4,926,760 $0 $0 $3,280,339 $4,926,760
Net position:
Invested in capital assets net of related debt $10,349,363 $9,746,635 $23,721,266 $24,525,702 $34,070,629 $34,272,337
Restricted 6,700,424 6,556,757 - - 6,7 00,424 6,556,757
Unrestricted (776,593) (4,223,098) 4,072,013 3,569,879 3,295,420 (653,219)
Total net position $16,273,194 $12,080,294 $27,793,279 $28,095,581 $44,066,473 $40,175,875
The City’s net position increased by $3,890,598 in 2020. The increase was primarily due to
constructing and capitalizing assets during the current year which will be depreciated in future
years.
City of St. Anthony, Minnesota’s Changes in Net Position
Governmental Activities Business-Type Activities Totals
2020 2019 2020 2019 2020 2019
Revenues:
Program revenue:
Charges for services $1,722,036 $1,847,264 $9,595,167 $8,577,859 $11,317,203 $10,425,123
Operating grants and contributions 1,211,012 494,389 - - 1,211,012 494,389
Capital grants and contributions 1,862,319 633,142 - - 1,862,319 633,142
General revenue:
Property taxes 7,946,178 7,477,523 - - 7,946,178 7,477,523
Tax increment taxes 2,077,137 2,060,375 - - 2,077,137 2,060,375
Grants and contributions
not restricted to specific programs 613,302 561,062 - - 613,302 561,062
Other 359,421 508,302 45,267 113,180 404,688 621,482
Total revenues 15,791,405 13,582,057 9,640,434 8,691,039 25,431,839 22,273,096
Expenses:
General government 1,374,449 1,587,360 - - 1,374,449 1,587,360
Public safety 5,125,951 4,789,232 - - 5,125,951 4,789,232
Public works 2,915,895 2,960,916 - - 2,9 15,895 2,960,916
Parks and recreation 438,126 536,095 - - 438,126 536,095
Housing and redevelopment 1,276,274 975,246 - - 1,276,274 975,246
Interest on long-term debt 680,448 803,042 - - 680,448 803,042
Liquor - - 6,605,500 5,903,275 6,605,500 5,903,275
Water - - 1,554,879 1,617,354 1,554,879 1,617,354
Sewer - - 1,202,141 1,253,102 1,202,141 1,253,102
Stormwater - - 367,578 308,786 367,578 308,786
Total expenses 11,811,143 11,651,891 9,730,098 9,082,517 21,541,241 20,734,408
Excess before transfers 3,980,262 1,930,166 (89,664) (391,478) 3,890,598 1,538,688
Transfers 212,638 (1,824,178) (212,638) 1,824,178 - -
Increase (decrease) in net position 4,192,900 105,988 (302,302) 1,432,700 3,890,598 1,538,688
Net position - January 1 12,080,294 11,974,306 28,095,581 26,662,881 40,175,875 38,637,187
Net position - December 31 $16,273,194 $12,080,294 $27,793,279 $28,095,581 $44,066,473 $40,175,875
20
Governmental Activities. Governmental activities increased the City’s net position by
$4,192,900 compared to prior year increase of $105,988. The key elements of this change are an
increase of $1,948,800 in Intergovernmental program revenues along with an increase in general
revenues of $2,425,592.
Additionally, increases in Governmental Activities expenses, for the most part, closely paralleled
the combining factors of inflation and growth in the demand for services.
21
Business-type Activities. Business-type activities decreased net position by $302,302. There
was net $212,638 transfers out of cash and a decrease in general revenues of $67,913.
Financial Analysis of the City’s Funds
As noted earlier, the City uses fund accounting to ensure and demonstrate compliance with
finance-related legal requirements.
Governmental funds. The focus of the City’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’s financing requirements.
As of the end of the current fiscal year, the City’s governmental funds reported combined ending
fund balances of $17,547,842 an increase of $3,065,736 from the prior year.
The ending fund balance is classified as follows:
Nonspendable $162,751
Restricted 7,955,365
Committed 201,822
Assigned 6,513,862
Unassigned 2,714,042
Total $17,547,842
The General Fund is the chief operating fund of the City. At the end of the current fiscal year,
unassigned fund balance of the General Fund was $3,238,208, while total fund balance reached
$3,397,990. 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 44% of total General Fund expenditures and total fund balance represents
46% of that same amount.
During the current fiscal year, the fund balance in the General Fund increased by $807,200 due
to a combined increase in property tax and intergovernmental revenues of $1,020,845.
The Street Improvement Debt Service Fund increased by $74,781 mainly due to decreases in
grants and interest earnings totaling $100,277.
22
The HRA TIF Improvement Fund increased by $260,992, substantially due to a reduction in
revenues over expenses of $319,655 and $622,937 in transfers out was higher than the previous
year by $20,749.
The Street Improvement Project Funds increased by $480,590 due to other financing sources of
$2,920,559 exceeding revenues under expenditures of $2,439,969.
The Public Utilities Infrastructure Fund increased by $322,066 substantially due to transfers in of
$251,610 plus $70,456 in revenues over expenditures.
Non-major Special Revenue Funds increased by $125,059 resulting in an ending balance of
$252,573, substantially due to an increase in revenue over expenditures of $65,773 and a
decrease in transfers out of $94,694.
Non-major Debt Service Funds had a total fund balance of $1,068,931, all of which is restricted
for the payment of debt service. The net decrease in fund balance during the current year in the
non-major debt service funds was $5,532, substantially due to the planned use of fund balance to
support the debt service associated with the Public Facilities Revenue Bonds.
Non-major Capital Project Funds had a total fund balance of $2,167,493, an increase of
$1,000,580 from prior year, substantially due to the receipt of intergovernmental revenues.
Proprietary funds. The City’s proprietary funds provide the same type of information found in
the government-wide financial statements, but in more detail.
Total net position in the Liquor Operations, Water and Sewer Funds, and Stormwater Utility
Fund at the end of the year combined was $27,977,036. The total net position for each fund was:
Liquor – $2,415,537; Water and Sewer – $16,475,804; Stormwater Utility - $9,085,695.
23
General Fund Budgetary Highlights
Variances from actual to budget can be briefly summarized as follows:
General property taxes were $103,277 greater than budget due to a higher percentage of
current tax levy collections were received than was budgeted.
Licenses and permits were $62,536 greater than budget primarily due to higher level of
construction related permit activity.
Intergovernmental revenues were $646,607 greater than budget due to the receipt of
$683,110 of CARES funds.
Legal expenditures were $62,530 less than budget due to less legal activity incurred than
was provided for in the budget.
Other public safety expenditures of $377,355 were unbudgeted due to the receipt and
expenditure of CARES funds.
Capital Asset and Debt Administration
Capital Assets. The City’s investment in capital assets for its governmental and business-type
activities as of December 31, 2020 amounts to $58,200,833 (net of accumulated depreciation).
This investment in capital assets includes land, buildings and structures, improvements,
machinery and equipment, park facilities, roads and infrastructure. The City’s investment in
capital assets (net) decreased .4%.
Major capital asset events during the current fiscal year included the following:
The 2020 Street and Utility Improvement project construction began and significant
progress was made. The remaining construction activities will be completed in 2021.
The City Engineer was authorized to design and create construction specifications for the
2021 Street and Utility Improvement project, which will be substantially constructed in
2021.
24
City of St. Anthony, Minnesota’s Capital Assets
Governmental Activities Business-Type Activities Totals
2020 2019 2020 2019 2020 2019
Land $1,662,883 $1,662,883 $2,089,954 $2,089,954 $3,752,837 $3,752,837
Permanent easements 73,984 73,984 - - 73,984 -
Land improvements 587,187 587,187 1,038,687 1,038,687 1,625,874 1,625,874
Buildings and structures 10,258,074 10,133,864 8,482,703 8,467,897 18,740,777 18,601,761
Furniture and fixtures 4,798,664 4,576,847 4,860,982 4,853,924 9,659,646 9,430,771
Software intangibles 56,823 23,303 26,022 26,022 82,845 49,325
Infrastructure/streets 41,336,141 41,336,141 17,043,752 17,043,752 58,379,893 58,379,893
Storm sewers 428,469 428,469 - - 428,469 428,469
Storm water - - 2,253,147 2,253,147 2,25 3,147 2,253,147
Less accumulated depreciation (28,449,148) (26,400,210) (11,495,579) (10,514,273) (39,944,727) (36,914,483)
Construction in progress 3,132,590 740,266 15,498 - 3,148,088 740,266
Total $33,885,667 $33,162,734 $24,315,166 $25,259,110 $58,200,833 $58,347,860
Additional information on the City’s capital assets can be found in Note 5.
Long-term debt. At the end of the current fiscal year, the City had total bonded debt
outstanding of $29,135,000. Of this amount, $21,255,000 comprises debt backed by special
assessments and the full faith and credit of the City, $6,240,000 is backed by tax increments,
$1,505,000 is backed by lease revenue sources, and $580,000 is backed by revenues sources
from the City’s water/sewer funds. In addition, the City’s debt represents the liability for
compensated absences $878,114, net pension liability of $5,167,046, and OPEB liability of
$614,487.
City of St. Anthony, Minnesota’s Outstanding Debt
General Obligation and Revenue Bonds
Governmental Activities Business-Type Activities Totals
2020 2019 2020 2019 2020 2019
General obligation bonds $21,255,000 $20,365,000 $ - $ - $21,255,000 $20,365,000
G.O. revenue bonds 1,505,000 1,850,000 580,000 715,000 2,085,000 2,565,000
G.O. tax increment bonds 5,795,000 6,240,000 - - 5,795,000 6,240,000
Issuance premiums (discounts) 934,554 894,108 13,900 18,408 948,454 912,516
Total $29,489,554 $29,349,108 $593,900 $733,408 30,083,454 $30,082,516
The City’s total bonded debt increased by $100,000 during the current fiscal year. The key
factors in this decrease were: 1) principal retirement of $2,900,000 and 2) the issuance of
$3,000,000 of 2020A General Obligation Bonds.
The City 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 is $32,845,230, which is in excess of the City’s
applicable debt. Additional information on the City’s long-term debt can be found in Note 6.
25
Bond Rating comments on Economic Factors, Financial management and Budgets
We consider St. Anthony's economy very strong. The city, with a population estimate of
9,062, is in Hennepin and Ramsey counties in the Minneapolis-St. Paul-Bloomington
MSA, which we consider broad and diverse. Projected per capita effective buying income
is 128% of the national level and per capita market value is $118,579. Overall, market
value grew by 5.4% during the past year to $1.1 billion in fiscal 2019.
We view the city's financial management as strong, with good financial policies and
practices under our FMA methodology. The institutional framework score for Minnesota
cities with a population greater than 2,500 is strong.
We consider budgetary flexibility very strong, with an available fund balance in fiscal
2019 at 52% of operating expenditures. We expect available fund balance to remain more
than 30% of expenditures for the current and next fiscal years, which we view as a
positive credit factor.
In our opinion, St. Anthony's liquidity is very strong, with total government available
cash at 118.7% of total governmental-fund expenditures and 3.7x governmental debt
service in fiscal 2019. In our view, the city has strong access to external liquidity if
necessary
In our view, St. Anthony's debt-and-contingent-liability profile is weak. Total
governmental-fund debt service is 31.2% of total governmental-fund expenditures, and
net direct debt is 196.7% of total governmental-fund revenue. Officials plan to retire
about 83.3% of direct debt during 10 years, which is, in our view, a positive credit factor.
These factors were considered in preparing the City’s budget for the 2021 fiscal year and
beyond.
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.
26
BASIC FINANCIAL STATEMENTS
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CITY OF ST. ANTHONY, MINNESOTA
STATEMENT OF NET POSITION Statement 1
December 31, 2020
With Comparative Totals For December 31, 2019
Governmental Business-Type
Activities Activities 2020 2019
Assets:
Cash and investments $18,469,919 $3,016,982 $21,486,901 $17,081,768
Accrued interest 28,108 - 28,108 35,124
Due from other governmental units 91,509 7,266 98,775 717,149
Accounts receivable - net 106,183 693,671 799,854 766,712
Internal balances 183,757 (183,757) - -
Property taxes receivable 142,907 - 142,907 177,350
Prepaid items 146,540 36,963 183,503 117,053
Inventories - at cost 16,211 1,119,990 1,136,201 1,132,948
Loans receivable 9,227 - 9,227 21,493
Special assessments receivable 1,521,614 - 1,521,614 1,561,374
Land held for resale 370,356 - 370,356 370,356
Capital assets - net:
Nondepreciable 4,869,457 2,105,452 6,974,909 4,567,087
Depreciable 29,016,210 22,209,714 51,225,924 53,854,757
Net pension asset 422,323 - 422,323 260,528
Total assets 55,394,321 29,006,281 84,400,602 80,663,699
Deferred outflows of resources:
Related to other post employment benefits 82,708 - 82,708 28,051
Related to pensions 1,853,609 - 1,853,609 2,778,725
Total deferred outflows of resources 1,936,317 0 1,936,317 2,806,776
Liabilities:
Accounts payable 607,097 208,648 815,745 804,281
Due to other governmental units 94,188 93,762 187,950 155,273
Salaries payable 127,727 58,911 186,638 144,439
Contracts payable 619,949 - 619,949 527,331
Deposits payable 34,084 55,455 89,539 63,450
Accrued interest payable 342,355 4,834 347,189 396,886
Other post employment benefits:
Due within one year 21,165 - 21,165 11,075
Due in more than one year 593,322 - 593,322 835,038
Long-term liabilities:
Due within one year 3,293,815 204,944 3,498,759 3,330,192
Due in more than one year 26,876,357 586,448 27,462,805 27,653,508
Net pension liability:
Due in more than one year 5,167,046 - 5,167,046 4,446,367
Total liabilities 37,777,105 1,213,002 38,990,107 38,367,840
Deferred inflows of resources:
Related to other post employment benefits 345,652 - 345,652 39,170
Related to pensions 2,934,687 - 2,934,687 4,887,590
Total deferred inflows of resources 3,280,339 - 3,280,339 4,926,760
Net position:
Net investments in capital assets 10,349,363 23,721,266 34,070,629 34,272,337
Restricted for:
Debt service 6,406,488 - 6,406,488 6,339,750
Pensions 247,024 - 247,024 177,502
Public safety 46,912 - 46,912 39,505
Unrestricted (776,593) 4,072,013 3,295,420 (653,219)
Total net position $16,273,194 $27,793,279 $44,066,473 $40,175,875
Total
Primary Government
The accompanying notes are an integral part of these financial statements.
29
CITY OF ST. ANTHONY, MINNESOTA
STATEMENT OF ACTIVITIES
For The Year Ended December 31, 2020
With Comparative Totals For December 31, 2019
Program Revenues
Charges For
Functions/Programs Expenses Services
Primary government:
Governmental activities:
General government $1,374,449 $416,932
Public safety 5,125,951 836,754
Public works 2,915,895 245,073
Parks and recreation 438,126 222,817
Housing and redevelopment 1,276,274 460
Interest on long-term debt 680,448 -
Total governmental activities 11,811,143 1,722,036
Business-type activities:
Liquor 6,605,500 7,025,468
Water/water plant 1,554,879 1,133,458
Sewer 1,202,141 1,224,881
Stormwater 367,578 211,360
Total business-type activities 9,730,098 9,595,167
Total primary government $21,541,241 $11,317,203
The accompanying notes are an integral part of these financial statements.
30
Statement 2
Operating Capital
Grants and Grants and Governmental Business-Type
Contributions Contributions Activities Activities 2020 2019
$19,546 $ - ($937,971) $ - ($937,971) ($1,144,721)
1,086,911 - (3,202,286) - (3,202,286) (3,607,148)
103,505 1,862,319 (704,998) - (704,998) (1,837,316)
1,050 - (214,259) - (214,259) (310,480)
- - (1,275,814) - (1,275,814)(974,389)
- - (680,448) - (680,448)(803,042)
1,211,012 1,862,319 (7,015,776)0 (7,015,776) (8,677,096)
- - - 419,968 419,968 257,593
- - - (421,421)(421,421)(618,272)
- - - 22,740 22,740 (41,893)
- - - (156,218)(156,218)(102,086)
0 0 0 (134,931)(134,931)(504,658)
$1,211,012 $1,862,319 (7,015,776)(134,931)(7,150,707) (9,181,754)
General revenues:
General property taxes 7,946,178 - 7,946,178 7,477,523
Tax increment taxes 2,077,137 - 2,077,137 2,060,375
Grants and contributions not
restricted to specific programs 613,302 - 613,302 561,062
Unrestricted investment earnings 318,653 45,267 363,920 576,720
Other 40,768 - 40,768 44,762
Transfers 212,638 (212,638) - -
Total general revenues and transfers 11,208,676 (167,371)11,041,305 10,720,442
Change in net position 4,192,900 (302,302)3,890,598 1,538,688
Net position - January 1 12,080,294 28,095,581 40,175,875 38,637,187
Net position - December 31 $16,273,194 $27,793,279 $44,066,473 $40,175,875
Program Revenues
Total
Primary Government
Changes in Net Position
Net (Expense) Revenue and
The accompanying notes are an integral part of these financial statements.
31
CITY OF ST. ANTHONY, MINNESOTA
BALANCE SHEET
GOVERNMENTAL FUNDS
December 31, 2020
With Comparative Totals For December 31, 2019
General Fund
Street Improvement
Debt Service Fund
Assets
Cash and investments $3,203,275 $4,217,433
Accrued interest 28,108 -
Due from other governmental units 43,690 -
Accounts receivable - net 62,034 -
Interfund receivable 159,578 -
Interfund loan receivable - -
Property taxes receivable:
Delinquent 36,394 15,053
Due from county 38,109 16,767
Prepaid items 143,571 -
Inventories - at cost 16,211 -
Loans receivable - -
Special assessments receivable 4,479 1,445,157
Land held for resale - -
Total assets $3,735,449 $5,694,410
Liabilities, Deferred Inflows of Resources, and Fund Balance
Liabilities:
Accounts payable $121,844 $4,404
Due to other governmental units 31,390 -
Salaries payable 126,175 -
Contracts payable - -
Deposits payable 6,142 3,393
Interfund payable - -
Interfund loan payable - -
Total liabilities 285,551 7,797
Deferred inflows of resources:
Unavailable revenue 51,908 1,438,728
Fund balance (deficit):
Nonspendable 159,782 -
Restricted - 4,247,885
Committed - -
Assigned - -
Unassigned 3,238,208 -
Total fund balance (deficit)3,397,990 4,247,885
Total liabilities, deferred inflows of
resources, and fund balance (deficit)$3,735,449 $5,694,410
The accompanying notes are an integral part of these financial statements.
32
Statement 3
HRA TIF
Improvements
Street Improvement
Project Fund
Public Utilities
Infrastructure
Other Governmental
Funds
Intra-Activity
Eliminations
2020 2019
$2,385,786 $1,542,397 $3,229,706 $3,605,867 $ - $18,184,464 $14,216,079
- - - - - 28,108 35,124
- 45,625 - 2,194 - 91,509 717,149
25,027 - - 19,122 - 106,183 93,817
- - - - (159,578) - -
- - 981,806 - (981,806) - -
13,371 - - 10,247 - 75,065 60,710
3,895 - - 9,071 - 67,842 116,640
730 - - 2,239 - 146,540 97,730
- - - - - 16,211 4,826
- - - 9,227 - 9,227 21,493
- 65,631 - 6,347 - 1,521,614 1,561,374
370,356 - - - - 370,356 370,356
$2,799,165 $1,653,653 $4,211,512 $3,664,314 ($1,141,384) $20,617,119 $17,295,298
$388,147 $36,803 $2,352 $53,547 $ - $607,097 $534,781
- - - 62,798 - 94,188 86,501
- - - 1,552 - 127,727 105,611
- 552,807 67,142 - - 619,949 527,331
- - - 24,549 - 34,084 5,715
- 159,578 - - (159,578) - -
959,326 - - 22,480 (981,806) - -
1,347,473 749,188 69,494 164,926 (1,141,384) 1,483,045 1,259,939
13,371 65,631 - 16,594 - 1,586,232 1,553,253
730 - - 2,239 - 162,751 102,556
1,944,535 653,305 - 1,109,640 - 7,955,365 7,176,386
- - - 201,822 - 201,822 102,948
- 185,529 4,142,018 2,186,315 - 6,513,862 5,502,668
(506,944) - - (17,222) - 2,714,042 1,597,548
1,438,321 838,834 4,142,018 3,482,794 0 17,547,842 14,482,106
$2,799,165 $1,653,653 $4,211,512 $3,664,314 ($1,141,384) $20,617,119 $17,295,298
Fund balance reported above $17,547,842 $14,482,106
Amounts reported for governmental activities in the statement of net position are different because:
Capital assets used in governmental activities are not financial resources, and therefore,
are not reported in the funds.33,885,667 33,162,734
Other long-term assets are not available to pay for current-period expenditures and,
therefore, are reported as unavailable in the funds.1,586,232 1,553,253
Net pension asset related to the Saint Anthony Fire Department pension plan.422,323 260,528
Deferred outflows of resources related to the Saint Anthony Fire Department pension plan.14,093 28,364
Deferred inflows of resources related to the Saint Anthony Fire Department pension plan.(189,392)(111,390)
Long-term liabilities, including bonds payable, are not due and payable in the current period
and therefore are not reported in the funds.(29,831,909) (29,740,035)
Internal service funds are used by management to charge the cost of employee vacation,
severance, pension benefits, and other post employment benefits to individual funds. The assets
and liabilities are included in the governmental activities on the statement of net position.(7,161,662)(7,555,266)
Net position of governmental activities $16,273,194 $12,080,294
Total Governmental Funds
The accompanying notes are an integral part of these financial statements.
33
CITY OF ST. ANTHONY, MINNESOTA
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE
GOVERNMENTAL FUNDS
For The Year Ended December 31, 2020
With Comparative Totals For December 31, 2019
General Fund
Street Improvement
Debt Service Fund
Revenues:
General property taxes $4,869,556 $1,943,591
Tax increment collections - -
Licenses, fees and permits 318,232 -
Intergovernmental 1,691,330 -
Special assessments 609 314,186
Charges for services 1,053,817 -
Cable franchise fees 95,517 -
Fines and forfeits 75,574 -
Investment income 36,153 46,578
Contributions and donations 400 -
Refunds and reimbursements 14,998 -
Miscellaneous 40,768 -
Total revenues 8,196,954 2,304,355
Expenditures:
Current:
General government 1,140,487 -
Public safety 5,162,933 -
Public works 884,584 5,087
Parks and recreation 250,387 -
Nondepartmental 28,475 -
Housing and redevelopment - -
Capital outlay - -
Debt service:
Principal - 1,875,000
Interest - 503,622
Other costs - 6,662
Construction/acquisition costs - -
Developer incentives - -
Total expenditures 7,466,866 2,390,371
Revenues over (under) expenditures 730,088 (86,016)
Other financing sources (uses):
Bonds issued - 52,220
Refunding bonds issued - -
Premium on bonds issued - -
Sale of capital assets - -
Transfers in 262,500 108,577
Transfers out (185,388) -
Total other financing sources (uses)77,112 160,797
Net change in fund balance 807,200 74,781
Fund balance - January 1 2,590,790 4,173,104
Fund balance - December 31 $3,397,990 $4,247,885
The accompanying notes are an integral part of these financial statements.
34
Statement 4
HRA TIF
Improvements
Street Improvement
Project Fund
Public Utilities
Infrastructure
Other Governmental
Funds
Intra-Activity
Eliminations
2020 2019
$ - $ - $ - $1,119,341 $ - $7,932,488 $7,484,962
2,076,472 - - - - 2,076,472 2,093,697
- - - - - 318,232 268,565
- 45,625 1,237 1,442,998 - 3,181,190 1,595,355
- 61,129 - 2,013 - 377,937 463,256
- - - 132,302 - 1,186,119 1,153,385
- - - - - 95,517 97,200
- - - 11,965 - 87,539 96,262
83,295 10,918 89,765 47,246 - 313,955 485,833
- - - 650 - 1,050 1,550
16,977 - - 2,654 - 34,629 231,822
- - - - - 40,768 21,417
2,176,744 117,672 91,002 2,759,169 0 15,645,896 13,993,304
55,463 - - 29,497 - 1,225,447 1,327,603
- - - 6,342 - 5,169,275 4,698,695
- - 2,077 53,007 - 944,755 1,071,071
- - - 152,647 - 403,034 474,430
- - - - - 28,475 78,233
361,851 - - 137,588 - 499,439 169,010
- - 18,469 515,405 - 533,874 165,581
- - - 1,025,000 - 2,900,000 4,910,000
93,150 - - 245,828 - 842,600 897,980
- 72,756 - 4,333 - 83,751 83,204
342 2,484,885 - - - 2,485,227 1,970,296
782,009 - - - - 782,009 804,391
1,292,815 2,557,641 20,546 2,169,647 0 15,897,886 16,650,494
883,929 (2,439,969)70,456 589,522 0 (251,990) (2,657,190)
- 2,947,780 - - - 3,000,000 1,145,000
- - - - - - 1,335,000
- 154,026 - - - 154,026 225,916
- - - - - - 23,050
- - 251,610 941,295 (1,313,982)250,000 335,000
(622,937)(181,247) - (410,710) 1,313,982 (86,300)(86,300)
(622,937) 2,920,559 251,610 530,585 0 3,317,726 2,977,666
260,992 480,590 322,066 1,120,107 0 3,065,736 320,506
1,177,329 358,244 3,819,952 2,362,687 - 14,482,106 14,161,600
$1,438,321 $838,834 $4,142,018 $3,482,794 $0 $17,547,842 $14,482,106
Total Governmental Funds
The accompanying notes are an integral part of these financial statements.
35
CITY OF ST. ANTHONY, MINNESOTA
RECONCILIATION OF THE STATEMENT OF REVENUES,Statement 5
EXPENDITURES AND CHANGES IN FUND BALANCES OF
GOVERNMENTAL FUNDS
For The Year Ended December 31, 2020
With Comparative Amounts For The Year Ended December 31, 2019
2020 2019
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)$3,065,736 $320,506
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.845,932 4,767
Transfer out of governmental capital assets contributed to Enterprise Funds.(37,362) (2,159,178)
The statement of activities reports losses arising from the trade-in or disposal of
existing capital assets to acquire new capital assets. Conversely, governmental
funds do not report any gain or loss on a trade-in of capital assets.(85,637) (54,853)
Revenues in the statement of activities that do not provide current financial
resources are not reported as revenues in the funds.32,979 (449,590)
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 position. This
amount is the net effect of these differences in the treatment of long-term debt
and related items.(254,026) 2,204,084
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.162,152 94,938
Internal Service Funds are used by management to charge the cost of severance
pension, and other post employment expenses to individual funds. This amount is the
net income attributable to governmental activities.393,604 167,887
Governmental funds report pension contributions as expenditures, however,
pension expense is reported in the statement of activities. This is the amount
by which pension expense differed from pension contributions for the St. Anthony
Fire Department pension plan (Note 8).69,522 (22,573)
Change in net position of governmental activities (Statement 2)$4,192,900 $105,988
The accompanying notes are an integral part of these financial statements.
36
CITY OF ST. ANTHONY, MINNESOTA
STATEMENT OF NET POSITION Statement 6
PROPRIETARY FUNDS
December 31, 2020
With Comparative Totals For December 31, 2019
Governmental
Activities
Water/Sewer/ Stormwater Internal
Liquor Water Plant Utility Service Fund
Assets:2020 2019
Current assets:
Cash and cash equivalents $834,344 $1,859,331 $323,307 $3,016,982 $2,624,996 $285,455
Accounts receivable - net 4,208 689,463 - 693,671 672,895 -
Due from other governmental units 7,266 - - 7,266 - -
Prepaid items 14,770 22,193 - 36,963 19,323 -
Inventories - at cost 965,227 154,763 - 1,119,990 1,128,122 -
Total current assets 1,825,815 2,725,750 323,307 4,874,872 4,445,336 285,455
Noncurrent assets:
Capital assets:
Land - 5,653 2,084,301 2,089,954 2,089,954 -
Land improvements - - 1,038,687 1,038,687 1,038,687 -
Buildings and structures 1,888,593 6,594,110 - 8,482,703 8,467,897 -
Furniture, fixtures and equipment 448,743 4,412,239 - 4,860,982 4,853,924 -
Distribution and collection system - 12,124,500 7,172,399 19,296,899 19,296,899 -
Software intangibles 26,022 - - 26,022 26,022 -
Construction in process 15,498 - - 15,498 - -
Total capital assets 2,378,856 23,136,502 10,295,387 35,810,745 35,773,383 0
Less: Allowance for depreciation (1,456,507) (8,507,449) (1,531,623) (11,495,579) (10,514,273) -
Net capital assets 922,349 14,629,053 8,763,764 24,315,166 25,259,1100
Total assets 2,748,164 17,354,803 9,087,071 29,190,038 29,704,446 285,455
Deferred outflows of resources:
Related to OPEB - - - - - 82,708
Related to pensions - - - - - 1,839,516
Total deferred outflows of resources - - - - - 1,922,224
Liabilities:
Current liabilities:
Accounts payable 133,515 73,800 1,333 208,648 269,500 -
Due to other governmental units 90,500 3,219 43 93,762 68,772 -
Salaries payable 29,975 28,936 - 58,911 38,828 -
Accrued interest payable - 4,834 - 4,834 5,959 -
Refundable deposits - 55,455 - 55,455 57,735 -
Compensated absences payable - current 25,859 39,085 - 64,944 64,391 223,815
Bonds and notes payable - current - 140,000 - 140,000 135,000 -
Other post employment benefits liability - current - - - - - 21,165
Total current liabilities 279,849 345,329 1,376 626,554 640,185 244,980
Noncurrent liabilities:
Compensated absences payable - noncurrent 52,778 79,770 - 132,548 132,187 456,803
Bonds and notes payable - noncurrent - 453,900 - 453,900 598,408 -
Other post employment benefits liability - noncurrent - - - - - 593,322
Net pension liability - - - - - 5,167,046
Total noncurrent liabilities 52,778 533,670 0 586,448 730,595 6,217,171
Total liabilities 332,627 878,999 1,376 1,213,002 1,370,780 6,462,151
Deferred inflows of resources:
Related to OPEB - - - - - 345,652
Related to pensions - - - - - 2,745,295
Total deferred inflows of resources - - - - - 3,090,947
Net position:
Net investments in capital assets 922,349 14,035,153 8,763,764 23,721,266 24,525,702 -
Unrestricted 1,493,188 2,440,651 321,931 4,255,770 3,807,964 (7,345,419)
Total net position $2,415,537 $16,475,804 $9,085,695 $27,977,036 $28,333,666 ($7,345,419)
Net position reported above $27,977,036 $28,333,666
Adjustment to report the cumulative internal balance for the net effect of activity
between the internal service fund and the enterprise funds over time.(183,757) (238,085)
Net position of business-type activities (Statement 1)$27,793,279 $28,095,581
Totals
Business-Type Activities Enterprise Funds
The accompanying notes are an integral part of these financial statements.
37
CITY OF ST. ANTHONY, MINNESOTA
STATEMENT OF REVENUES, EXPENSES AND Statement 7
CHANGES IN FUND NET POSITION
PROPRIETARY FUNDS
For The Year Ended December 31, 2020
With Comparative Totals For December 31, 2019
Governmental
Activities
Water/Sewer/ Stormwater Internal
Liquor Water Plant Utility Service Fund
2020 2019
Sales $7,015,974 $ - $ - $7,015,974 $6,160,868 $ -
Cost of sales (5,252,004) - - (5,252,004) (4,614,845) -
Gross profit 1,763,970 0 0 1,763,970 1,546,023 0
Operating revenues:
Customer billings - 2,355,173 210,660 2,565,833 2,413,541 -
Connection charges - - - - 3,450 -
Charges for services - - - - - 673,518
Total operating revenues 0 2,355,173 210,660 2,565,833 2,416,991 673,518
Total gross profit and operating revenues 1,763,970 2,355,173 210,660 4,329,803 3,963,014 673,518
Operating expenses:
Personal services 871,671 896,438 - 1,768,109 1,730,719 366,009
Supplies 358,026 200,605 - 558,631 568,585 -
Contracted services 70,393 140,281 69,577 280,251 237,196 -
Treatment charges (MCES) - 712,664 - 712,664 733,670 -
Other 9,282 206,852 6,787 222,921 207,448 -
Total operating expenses, excluding depreciation 1,309,372 2,156,840 76,364 3,542,576 3,477,618 366,009
Depreciation 70,859 619,233 291,214 981,306 947,609 -
Total operating expenses 1,380,231 2,776,073 367,578 4,523,882 4,425,227 366,009
Operating income (loss)383,739 (420,900) (156,918) (194,079) (462,213) 307,509
Nonoperating revenues (expenses):
Investment income 13,127 27,781 4,359 45,267 83,886 4,698
Intergovernmental revenue - - - - - 49,425
Interest expense - (8,540) - (8,540) (11,059) -
Miscellaneous 9,494 3,166 700 13,360 29,294 -
Total nonoperating revenues (expenses)22,621 22,407 5,059 50,087 102,121 54,123
Income (loss) before contributions and transfers 406,360 (398,493) (151,859) (143,992) (360,092) 361,632
Contributions and transfers:
Capital contributions 30,356 7,006 - 37,362 2,159,178 -
Transfers in - - - - - 86,300
Transfers out (250,000) - - (250,000) (335,000) -
Total contributions and transfers (219,644) 7,006 - (212,638) 1,824,178 86,300
Change in net position 186,716 (391,487) (151,859) (356,630) 1,464,086 447,932
Net position - January 1 2,228,821 16,867,291 9,237,554 28,333,666 26,869,580 (7,793,351)
Net position - December 31 $2,415,537 $16,475,804 $9,085,695 $27,977,036 $28,333,666 ($7,345,419)
Change in net position reported for business-type activities above ($356,630) $1,464,086
Transfer in of capital assets from governmental activities 37,362 2,159,178
Portion of contribution revenue reported above (37,362) (2,159,178)
Adjustment for the net effect of the current year activity between the
internal service fund and the enterprise funds.54,328 (31,386)
Change in net position of business-type activities (Statement 2)($302,302) $1,432,700
Business-Type Activities Enterprise Funds
Totals
The accompanying notes are an integral part of these financial statements.
38
CITY OF ST. ANTHONY, MINNESOTA
STATEMENT OF CASH FLOWS Statement 8
PROPRIETARY FUNDS
For The Year Ended December 31, 2020
With Comparative Totals For December 31, 2019
Governmental
Activities
Water/Sewer/ Stormwater Internal
Liquor Water Plant Utility Service Fund
2020 2019
Cash flows from operating activities:
Receipts from customers and users $7,016,295 $2,331,796 $210,660 $9,558,751 $8,481,807 $ -
Receipts from interfund charges for pension benefits - - - - - 673,518
Payment to suppliers (5,870,874) (1,119,853) (81,115) (7,071,842) (6,141,955)
Payment to employees (850,748) (896,364) - (1,747,112) (1,717,252) (719,754)
Miscellaneous revenue 2,228 3,166 700 6,094 29,294 -
Net cash flows provided by (used in)
operating activities 296,901 318,745 130,245 745,891 651,894 (46,236)
Cash flows from noncapital financing activities:
Transfer from General Fund - - - - - 86,300
Transfer to General Fund (250,000) - - (250,000) (250,000) -
Transfer to Debt Service Funds - - - - (85,000) -
Net cash flows provided by (used in)
noncapital financing activities (250,000)0 0 (250,000) (335,000) 86,300
Cash flows from capital and related
financing activities:
Principal paid on debt - (135,000) - (135,000) (130,000) -
Interest paid on debt - (14,172) - (14,172) (16,651) -
Net cash flows provided by (used in)
capital and related financing activities 0 (149,172)0 (149,172) (146,651)0
Cash flows from investing activities:
Investment income 13,127 27,781 4,359 45,267 83,886 4,698
Net increase (decrease) in cash and cash equivalents 60,028 197,354 134,604 391,986 254,129 44,762
Cash and cash equivalents - January 1 774,316 1,661,977 188,703 2,624,996 2,370,867 240,693
Cash and cash equivalents - December 31 $834,344 $1,859,331 $323,307 $3,016,982 $2,624,996 $285,455
Reconciliation of operating income (loss) to net cash
provided (used) by operating activities:
Operating income (loss) $383,739 ($420,900) ($156,918) ($194,079) ($462,213) $307,509
Adjustments to reconcile operating income (loss)
to net cash flows from operating activities:
Miscellaneous revenue 9,494 3,166 700 13,360 29,294 -
Depreciation 70,859 619,233 291,214 981,306 947,609 -
Changes in assets and liabilities:
Decrease (increase) in receivables (6,945) (21,097) - (28,042) (36,147) -
Decrease (increase) in prepaid items (8,566) (9,074) - (17,640) 9,724 -
Decrease (increase) in inventory (96,556) 104,688 - 8,132 81,883 -
Decrease (increase) in deferred outflows of resources - - - - - 856,188
Increase (decrease) in payables (55,124) 42,729 (4,751) (17,146) 81,744 (23,988)
Increase (decrease) in OPEB liability - - - - - (231,626)
Increase (decrease) in net pension liability - - - - - 770,104
Increase (decrease) in deferred inflows of resources - - - - - (1,724,423)
Total adjustments (86,838) 739,645 287,163 939,970 1,114,107 (353,745)
Net cash provided by operating activities $296,901 $318,745 $130,245 $745,891 $651,894 ($46,236)
Noncash investing, capital and financing activities:
Assets in the amount of $0 and $30,356 were contributed to the Liquor Fund in 2019 and 2020, respectively.
Assets in the amount of $756,666 and $7,006 were contributed to the Water/Sewer/Water Plant Fund in 2019 and 2020, respectively.
Assets in the amount of $1,402,512 and $0 were contributed to the Stormwater Utility Fund in 2019 and 2020, respectively.
Totals
Business-Type Activities Enterprise Funds
The accompanying notes are an integral part of these financial statements.
39
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40
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2020
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 TIF Debt Service
Fund, the HRA TIF Improvement 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 position and the statement of
activities) 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.
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.
41
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2020
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.
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.
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 TIF Improvement Fund was established to account for the construction and
redevelopment costs within the City.
The Street Improvement Project Fund was established to account for the construction costs
associated with a systematic plan to reconstruct substandard residential streets and alleys.
The Public Utilities Infrastructure Fund was established to account for costs associated with the
City’s utilities infrastructure.
42
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2020
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/Sewer/Water Plant 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.
The Stormwater Utility Fund accounts for stormwater service charges which are used to finance
the construction and operation of the stormwater and flood protection projects.
Additionally, the City reports the following fund type:
Internal Service Fund - the Employee Benefit Fund accounts for the liability the City has for
employee vacation and severance payments, and is also used to provide pension benefits and other
post employment benefits to other departments of the City on a cost reimbursement basis.
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.
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.
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.
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.
43
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2020
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.
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.
44
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2020
The following is a listing of the General Fund departments and Special Revenue Funds whose
expenditures exceed budget appropriations:
Final Over
Budget Actual Budget
Major Fund:
General Fund
Mayor and council $88,793 $103,232 $14,439
Elections 123,402 125,440 2,038
Finance 297,217 306,765 9,548
Assessing 72,921 73,631 710
Planning and zoning 80,258 83,803 3,545
General government buildings 122,670 124,434 1,764
Other public safety - 378,355 378,355
Protective inspections 103,694 133,548 29,854
Nonmajor Funds:
Special Revenue Funds:
Recycling fund 26,119 29,212 3,093
The over expenditures were funded by available fund balance.
F. CASH AND INVESTMENTS
Cash and investment balances from all funds 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.
Investments are stated at fair value except for investments in external investment pools that meet the
GASB 79 requirement, 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.
45
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2020
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, 2020 are
planned to be eliminated in 2021. 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 1 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.
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 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) are classified as due from county.
Taxes not collected by the county by December 31 are classified as delinquent taxes receivable. The
portion of delinquent taxes not collected by the City in January is fully offset by deferred inflow of
resources 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
46
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2020
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 inflow of resources.
J. INVENTORIES
For governmental funds, inventories are valued at cost using the first-in, first-out (FIFO) method. The
cost of such inventories are recorded as expenditures when consumed rather than when purchased.
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 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 acquisition value at the date of donation. 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.
47
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2020
Property, plant and equipment 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
Stormwater treatment systems 25 –40 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 Employee Benefit 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-term obligations are reported as liabilities in the applicable
governmental activities, business-type activities, or proprietary funds statement of net position. Bond
premiums and discounts are deferred and amortized over the life of the bonds. Bonds payable are
reported net of the applicable bond premium discount.
In the governmental fund financial statements, governmental funds recognize bond premiums and
discounts 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.
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.
48
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2020
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.
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 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, 2019, from
which the summarized information was derived.
T. DEFERRED OUTFLOWS/INFLOWS OF RESOURCES
In addition to assets, the statement of financial position reports a separate section for deferred outflows
of resources. This separate financial statement element represents a consumption of net position that
applies to future periods and so will not be recognized as an outflow of resources (expense/
expenditure) until then. The City has two items that qualify for reporting in this category. They are
the pension related deferred outflows of resources and the OPEB related deferred outflows of resources
reported in the government-wide Statement of Net Position and the proprietary funds Statement of Net
Position.
In addition to liabilities, the statement of financial position reports a separate section for deferred
inflows of resources. This separate financial statement element represents an acquisition of net
49
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2020
position that applies to future periods and so will not be recognized as an inflow of resources (revenue)
until that time. The government has pension and OPEB related deferred inflows of resources reported
in the government-wide Statement of Net Position and the proprietary funds Statement of Net Position.
The government also has a type of item, which arises only under a modified accrual basis of
accounting that qualifies for reporting in this category. Accordingly, the item, unavailable revenue, is
reported only in the governmental fund balance sheet. The governmental funds report unavailable
revenues from the following sources: property taxes, special assessments, tax increment and
intergovernmental revenue.
U. DEFINED BENEFIT PENSION PLANS
For purposes of measuring the net pension liability, deferred outflows/inflows of resources, and
pension expense, information about the fiduciary net position of the Public Employees Retirement
Association (PERA) and additions to/deductions from PERA’s fiduciary net position have been
determined on the same basis as they are reported by PERA except PERA’s fiscal year end is June 30.
For this purpose, plan contributions are recognized as of employer payroll paid dates and benefit
payments and refunds are recognized when due and payable in accordance with the benefit terms.
Investments are reported at fair value.
V. 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 POSITION
The governmental fund balance sheet includes a reconciliation between fund balance – total
governmental funds and net position – governmental activities as reported in the government-wide
statement of net position. 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 ($29,831,909) difference are as follows:
Bonds payable ($28,555,000)
Accrued interest payable (342,355)
Unamortized bond premium (934,554)
Net adjustment to reduce fund balance - total
governmental funds to arrive at net position -
governmental activities.($29,831,909)
50
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2020
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 position of governmental 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 $845,932
difference are as follows:
Capital outlay $533,874
Construction/acquisition costs 2,485,227
Current expenditures capitalized 3,187
Depreciation expense (2,176,356)
Net adjustment to increase net changes in fund
balances - total governmental funds to arrive at
changes in net position of governmental activities.$845,932
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 $32,979 difference are as follows:
Unavailable revenue - general property taxes:
At December 31, 2019 ($48,004)
At December 31, 2020 61,694
Unavailable revenue - tax increment taxes:
At December 31, 2019 (12,706)
At December 31, 2020 13,371
Unavailable revenue - special assessments:
At December 31, 2019 (1,492,544)
At December 31, 2020 1,500,133
Unavailable revenue - intergovernmental:
At December 31, 2019 -
At December 31, 2020 11,035
Net adjustments to increase net changes in fund
balances - total governmental funds to arrive at
changes in net position of governmental activities.$32,979
51
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2020
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 position.” The details of this ($254,026)
difference are as follows:
Debt issued or incurred:
Issuance of general obligation bonds ($3,000,000)
Premium on issued bonds (154,026)
Principal repayments 2,900,000
Net adjustment to increase net changes in fund
balances - total governmental funds to arrive at
changes in net position of governmental activities.($254,026)
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 $162,152 difference are as follows:
Change in accrued interest payable $48,572
Amortization of bond premium 113,580
Net adjustment to increase net changes in fund
balances - total governmental funds to arrive at
changes in net position of governmental activities.$162,152
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 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.
Securities pledged as collateral are required to be held in safekeeping by the City or in a financial
institution other than that furnishing the collateral. Minnesota Statue 118A.03 identifies allowable
forms of collateral.
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. As of December 31, 2020, the bank balance of the City’s
deposits was covered by federal depository insurance.
B. INVESTMENTS
Subject to rating, yield, maturity and issuer requirements as prescribed by statute, Minnesota Statutes
118A.04 and 118A.05 authorize the City to invest in United States securities, state and local securities,
commercial paper, time deposits, high-risk mortgage-backed securities, temporary general obligation
52
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2020
bonds, repurchase agreements, Minnesota joint powers investment trusts and guaranteed investment
contracts.
As of December 31, 2020, the City had the following investments and maturities:
Fair Less Over
Investment Type Rating Value Than 1 1-5 6-10 10 Years
Federal Home Loan Mortgage Coporation AAA $719,520 $ - $719,520 $ - $ -
Federal Farm Credit Bank AAA 744,953 - 744,953 - -
Money market funds Aaa-mf 1,876,016 1,876,016 - - -
External investment pool - 4M Fund Not rated 9,141,896 9,141,896 - - -
External investment pool - 4M Plus Fund Not rated 6,243 6,243 - - -
Municipal Securities AA - AAA 797,372 - 496,540 300,832 -
Brokered Certificates of Deposit Not rated 7,487,740 2,918,008 3,820,336 677,120 72,276
Total $20,773,740 $13,942,163 $5,781,349 $977,952 $72,276
Total investments $20,773,740
Total deposits 707,861
Petty cash 5,300
Total cash and investments $21,486,901
Investment Maturities (in Years)
The City categorizes its fair value measurements within the fair value hierarchy established by
generally accepted accounting principles. The hierarchy is based on the valuation inputs used to
measure the fair value of the asset. The hierarchy has three levels. Level 1 investments are valued
using inputs that are based on quoted prices in active markets for identical assets. Level 2 investments
are valued using inputs that are based on quoted prices for similar assets or inputs that are observable,
either directly or indirectly. Level 3 investments are valued using inputs that are unobservable.
The City has the following recurring fair value measurements as of December 31, 2020:
Fair Value Measurement Using
Investment Type 12/31/2020 Level 1 Level 2 Level 3
Investments at fair value:
Brokered Certificates of Deposit $7,487,740 $ - $7,487,740 $ -
Municipal Securities 797,372 - 797,372 -
Federal National Mortgage Association 719,520 - 719,520 -
Federal Farm Credit Bank 744,953 - 744,953 -
Total/Subtotal 9,749,585 $0 $9,749,585 $0
Investments not categorized:
External investment pool - 4M, 4M Plus 9,148,139
Money market funds 1,876,016
Total $20,773,740
The City’s external investment pool investment is with the 4M fund which is regulated by Minnesota
Statutes and the Board of Directors of the League of Minnesota Cities. The 4M fund is an unrated pool
and the fair value of the position in the pool is the same as the value of pool shares. The pool is
managed to maintain a portfolio weighted average maturity of no greater than 60 days and seeks to
maintain a constant net asset value (NAV) per share of $1. The pool measures its investments at
amortized cost in accordance with Government Accounting Standards Board Statement No. 79.
53
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2020
The 4M Liquid Asset Fund has no redemption requirements. The 4M Plus Fund requires funds to be
deposited for a minimum of 14 calendar days. Withdrawals prior to the 14-day restriction period are
subject to a penalty equal to 7 days interest on the amount withdrawn.
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.
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.
54
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2020
Note 3 RECEIVABLES
Significant receivables balances not expected to be collected within one year of December 31, 2020 are as
follows:
Street
Improvement HRA TIF Nonmajor
General Debt Service Improvements Funds Total
Special assessments receivable $ - $1,345,200 $ - $4,800 $1,350,000
Delinquent property taxes 15,100 6,200 - 4,200 25,500
Delinquent tax increment - - 10,100 - 10,100
$15,100 $1,351,400 $10,100 $9,000 $1,385,600
Major Funds
Note 4 UNAVAILABLE REVENUES
Governmental funds report deferred inflows of resources in connection with receivables for revenues that are
not considered to be available to liquidate liabilities of the current period. At the end of the current fiscal year,
the various components of unavailable revenue reported in the governmental funds were as follows:
Property Special Tax
Taxes Assessments Increment Grants Total
Major Funds:
General Fund $36,394 $4,479 $ - $11,035 $51,908
Street Improvement Debt Service 15,053 1,423,675 - - 1,438,728
HRA TIF Improvements - - 13,371 - 13,371
Street Improvement Project 65,631 65,631
Nonmajor Funds 10,247 6,347 - - 16,594
Total unavailale revenue $61,694 $1,500,132 $13,371 $11,035 $1,586,232
55
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2020
Note 5 CAPITAL ASSETS
Capital asset activity for the year ended December 31, 2020 was as follows:
Beginning Ending
Balance Increases Decreases Balance
Governmental activities:
Capital assets, not being depreciated:
Land $1,662,883 $ - $ - $1,662,883
Permanent easements 73,984 - - 73,984
Construction in progress 740,266 2,476,553 (84,229) 3,132,590
Total capital assets, not being depreciated 2,477,133 2,476,553 (84,229) 4,869,457
Capital assets, being depreciated:
Buildings and improvements 10,133,864 124,210 - 10,258,074
Land improvements 587,187 - - 587,187
Furniture, fixtures and equipment 4,576,847 361,905 (140,088) 4,798,664
Streets 41,336,141 - - 41,336,141
Storm sewers 428,469 - - 428,469
Intangible assets 23,303 33,520 - 56,823
Total capital assets, being depreciated 57,085,811 519,635 (140,088) 57,465,358
Less accumulated depreciation for:
Buildings and improvements 5,276,917 316,220 - 5,593,137
Land improvements 426,818 30,930 - 457,748
Furniture, fixtures and equipment 3,133,314 235,144 (127,418) 3,241,040
Streets 17,362,630 1,573,627 - 18,936,257
Storm sewers 190,410 17,139 - 207,549
Intangible assets 10,121 3,296 - 13,417
Total accumulated depreciation 26,400,210 2,176,356 (127,418) 28,449,148
Total capital assets being depreciated - net 30,685,601 (1,656,721) (12,670) 29,016,210
Governmental activities capital assets - net $33,162,734 $819,832 ($96,899) $33,885,667
56
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2020
Beginning Ending
Balance Increases Decrease Balance
Business-type activities:
Capital assets, not being depreciated:
Land $2,089,954 $ - $ - $2,089,954
Construction in progress - 15,498 - 15,498
Total capital assets, not being depreciated 2,089,954 15,498 0 2,105,452
Capital assets, being depreciated:
Buildings and structures 8,467,897 14,806 - 8,482,703
Land improvements 1,038,687 - - 1,038,687
Furniture, fixtures and equipment 4,853,924 7,058 - 4,860,982
Software and intangibles 26,022 - - 26,022
Stormwater 2,253,147 - - 2,253,147
Distribution and collection system 17,043,752 - - 17,043,752
Total capital assets, being depreciated 33,683,429 21,864 0 33,7 05,293
Less accumulated depreciation for:
Buildings and structures 2,639,454 208,108 - 2,847,562
Land improvements 41,548 41,548 83,096
Furniture, fixtures and equipment 1,272,145 173,505 - 1,445,650
Software and intangibles 26,022 - - 26,022
Stormwater 784,467 91,291 - 875,758
Distribution and collection system 5,750,637 466,854 - 6,217,491
Total accumulated depreciation 10,514,273 981,306 0 11,495,579
Total capital assets being depreciated - net 23,169,156 (959,442)0 22,209,714
Business-type activities capital assets - net $25,259,110 ($943,944)$0 $24,315,166
57
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2020
Depreciation/amortization expense was charged to functions/programs of the primary government as follows:
Governmental activities:
General government $121,957
Public safety 205,963
Public works, including depreciation of general infrastructure assets 1,806,785
Parks and recreation 41,651
Total depreciation/amortization expense - governmental activities 2,176,356
Business-type activities:
Liquor 70,859
Water/Sewer/Water Plant 619,233
Stormwater 291,214
Total depreciation/amortization expense - business-type activities 981,306
Total depreciation expense $3,157,662
CONSTRUCTION COMMITMENTS
At December 31, 2020, the City had commitments of approximately $621,000 for uncompleted
construction contracts.
Note 6 LONG-TERM 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,
2020. 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.
Tax abatement bonds were issued to finance a portion of park, sidewalk, and traffic signal
improvements, 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.
Revenue bonds are issued to finance business-type activities. These bonds are Utility Revenue Bonds.
The liability for these bonds is recorded in the Proprietary Funds.
58
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2020
As of December 31, 2020, the long-term debt of the City consisted of the following:
Interest Issue Maturity Original Payable
Rates Date Date Issue 12/31/2020
Governmental Activities:
G.O. Improvement Bonds:
G.O. Improvement Refunding Bonds, Series 2011B 0.40-2.00% 12/29/2011 2/1/2021 $2,210,000 $135,000
G.O. Improvement Bonds, Series 2013B 0.45-2.625% 4/23/2013 2/1/2029 1,775,000 1,085,000
G.O. Improvement Bonds, Series 2014A 2.00-3.30% 4/10/2014 2/1/2030 2,070,000 1,430,000
G.O. Improvement Bonds, Series 2015A 2.00-3.00% 5/19/2015 2/1/2031 2,580,000 1,950,000
G.O. Improvement Bonds, Series 2016A 2.00-2.75% 6/2/2016 2/1/2032 1,455,000 1,190,000
G.O. Improvement Refunding Bonds, Series 2017A 3.00% 5/18/2017 2/1/2033 1,355,000 885,000
G.O. Improvement Bonds, Series 2017A 3.00% 5/18/2017 2/1/2033 2,600,000 2,305,000
G.O. Improvement Bonds, Series 2018A 3.00-4.00% 5/15/2018 2/1/2034 2,610,000 2,465,000
G.O. Improvement Refunding Bonds, Series 2019A 2.25-4.00% 7/18/2019 2/1/2027 1,335,000 1,335,000
G.O. Improvement Bonds, Series 2020A 2.00-3.00% 5/19/2020 2/1/2036 3,000,000 3,000,000
Total improvement bonds 20,990,000 15,780,000
G.O. Tax Increment Revenue Bonds:
G.O. Tax Increment Refunding Bonds, Series 2014B 2.00-3.50% 7/24/2014 2/1/2031 3,665,000 2,640,000
G.O. Tax Increment Refunding Bonds, Series 2015B 2.00-3.00% 12/29/2015 2/1/2031 4,310,000 3,155,000
Total tax increment revenue bonds 7,975,000 5,795,000
G.O. Tax Abatement Bonds:
G.O. Tax Abatement Bonds, Series 2016B 2.00% 6/2/2016 2/1/2026 1,445,000 550,000
G.O. Tax Abatement Refunding Bonds, Series 2017A 3.00% 5/18/2017 2/1/2025 835,000 550,000
G.O. Tax Abatement Refunding Bonds, Series 2019A 3.00-4.00% 7/18/2019 2/1/2035 1,145,000 1,145,000
Total tax abatement bonds 3,425,000 2,245,000
G.O. Lease Revenue Refunding Bonds:
G.O. Lease Revenue Refunding Bonds, Series 2012A 2.00-2.75% 4/25/2012 2/1/2024 3,995,000 1,505,000
Other G.O. Bonds:
G.O. Refunding Bonds, Series 2012A 2.00-2.75% 4/25/2012 2/1/2028 5,440,000 2,205,000
G.O. Street Reconstruction Bonds, Series 2014C 2.00-3.00% 7/24/2014 2/1/2024 1,305,000 610,000
G.O. Equipment Certificate, Series 2017A 3.00% 5/18/2017 2/1/2027 520,000 415,000
Total other G.O. bonds 7,265,000 3,230,000
Unamortized bond premiums N/A 934,554
Total - bonded indebtedness 43,650,000 29,489,554
Compensated absences payable N/A 680,618
Total - governmental activities 43,650,000 30,170,172
Business-type activities
Revenue Bonds:
G.O. Water and Sewer Revenue Bonds, Series 2013A 2.00% 4/16/2003 2/1/2024 1,440,000 580,000
Unamortized bond premiums N/A 13,900
Total - bonded indebtedness 1,440,000 593,900
Compensated absences N/A 197,492
Total City indebtedness - business-type activities 1,440,000 791,392
Total City indebtedness $45,090,000 $30,961,564
59
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2020
Annual debt service requirements to maturity for long-term debt are as follows:
Year Ending
December 31 Principal Interest Principal Interest
2021 $1,285,000 $446,958 $450,000 $156,487
2022 1,325,000 395,720 475,000 146,212
2023 1,385,000 356,301 495,000 134,412
2024 1,410,000 314,745 510,000 122,062
2025 1,445,000 271,851 530,000 109,313
2026 1,290,000 230,064 555,000 95,700
2027 1,210,000 192,554 580,000 80,081
2028 1,115,000 159,448 605,000 62,975
2029 1,145,000 127,369 635,000 43,787
2030 1,040,000 96,434 655,000 23,025
2031 895,000 69,556 305,000 4,876
2032 720,000 47,244 - -
2033 625,000 28,888 - -
2034 430,000 14,781 - -
2035 230,000 6,900 - -
2036 230,000 2,300 - -
Total $15,780,000 $2,761,113 $5,795,000 $978,930
G.O. Improvement Bonds G.O. Tax Increment Bonds
Governmental Activities
60
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2020
Year Ending
December 31 Principal Interest Principal Interest Principal Interest
2021 $250,000 $62,900 $355,000 $28,690 $730,000 $70,350
2022 255,000 55,625 370,000 21,348 750,000 54,677
2023 265,000 48,100 385,000 13,320 530,000 39,907
2024 275,000 40,275 395,000 4,542 375,000 28,155
2025 285,000 32,150 - - 220,000 20,132
2026 160,000 25,700 - - 225,000 14,178
2027 75,000 21,900 - - 230,000 7,919
2028 75,000 19,275 - - 170,000 2,338
2029 80,000 16,950 - - - -
2030 80,000 14,550 - - - -
2031 85,000 12,075 - - - -
2032 85,000 9,525 - - - -
2033 90,000 6,900 - - - -
2034 90,000 4,200 - - - -
2035 95,000 1,425 - - - -
Total $2,245,000 $371,550 $1,505,000 $67,900 $3,230,000 $237,656
Governmental Activities
Revenue Bonds
G.O. LeaseG.O. Tax
Abatement Bonds
Other General
Obligation Bonds
Year Ending
December 31 Principal Interest
2021 $140,000 $10,200
2022 140,000 7,400
2023 145,000 4,550
2024 155,000 1,550
Total $580,000 $23,700
Revenue Bonds
Business-Type Activities
It is not practicable to determine the specific year for payment of long-term accrued compensated absences.
61
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2020
CHANGE IN LONG-TERM LIABILITIES
Long-term liability activity for the year ended December 31, 2020, was as follows:
Beginning Ending Due Within
Balance Additions Reductions Balance One Year
Governmental activities:
Bonds payable:
G.O. improvement bonds $13,995,000 $3,000,000 ($1,215,000) $15,780,000 $1,285,000
G.O. tax increment refunding bonds 6,240,000 - (445,000) 5,795,000 450,000
G.O. tax abatement bonds 2,425,000 - (180,000) 2,245,000 250,000
G.O. lease revenue refunding bonds 1,850,000 - (345,000) 1,505,000 355,000
G.O. refunding bonds 2,720,000 - (515,000) 2,205,000 530,000
G.O. street reconstruction bonds 755,000 - (145,000)610,000 145,000
G.O. equipment certificates 470,000 - (55,000) 415,000 55,000
Total bonds payable 28,455,000 3,000,000 (2,900,000) 28,555,000 3,070,000
Unamortized bond premiums 894,108 154,026 (113,580) 934,554 -
Total bonded indebtedness 29,349,108 3,154,026 (3,013,580) 29,489,554 3,070,000
Compensated absences 704,606 416,740 (440,728) 680,618 223,815
Total governmental activities $30,053,714 $3,570,766 ($3,454,308) $30,170,172 $3,293,815
Business-type activities:
Revenue bonds $715,000 $ - ($135,000) $580,000 $140,000
Unamortized bond premiums 18,408 - (4,508) 13,900 -
Total bonded indebtedness 733,408 0 (139,508) 593,900 140,000
Compensated absences 196,578 99,851 (98,937) 197,492 64,944
Total business-type activities $929,986 $99,851 ($238,445) $791,392 $204,944
For the governmental activities, compensated absences are generally liquidated by the Internal Service
Employee Benefit Fund.
All long-term bonded indebtedness outstanding at December 31, 2020 is backed by the full faith and credit of
the City, including improvement and revenue bond issues. Delinquent assessments receivable at December 31,
2020 totaled $6,556.
62
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2020
PLEDGED REVENUE
Future revenue pledged for the payment of long-term debt is as follows:
Percent of Debt service Remaining Principal Pledged
Use of Total as a % of Term of Principal and Interest Revenue
Bond Issue Proceeds Type Debt Service Net Revenues Pledge and Interest Paid Received
2020A Street Reconstruction 2020 road reconstruction Special assessments 4%N/A 2020-2036 $3,629,520 $ - $61,725
Property tax levy 96%
2019A Improvement Refunding of 2010A and Special assessments N/A N/A 2019-2027 1,518,100 55,328 134,478
Refunding 2011A Improvement Bonds Property tax levy
2019A Tax Abatement Utility improvements, trails Tax abatement N/A N/A 2019-2035 1,440,600 40,408 104,269
revenue
2018A Improvement 2018 road construction Special Assessments 30%N/A 2018-2034 3,064,463 233,375 242,917
Property tax levy 70%
2017A Improvement Refunding of 2009A Special assessments 9%N/A 2017-2025 953,025 188,950 205,504
Refunding Improvement Bonds Property tax levy 91%
2017A Improvement 2017 road reconstruction Special assessments 17%N/A 2017 - 2033 2,777,875 221,400 212,614
Property tax levy 83%
2017A Equipment Certificate Equipment purchases Property tax levy 100%N/A 2017 - 2033 460,225 68,448 296,624
2017A Tax Abatement Refunding of 2009A Bonds Tax abatement 100%N/A 2017-2025 592,750 112,925 116,688
Refunding Emerald Park improvements revenue
2016A Improvement 2016 road reconstruction Special assessments 52%N/A 2016 - 2032 1,360,181 116,838 118,827
Property tax levy 48%
2016B Tax Abatement Mirror Lake and pedestrian Tax abatement 100%N/A 2016 - 2026 583,200 96,850 108,230
safety improvements revenue
2015A Improvement 2015 road construction Special assessments 19%N/A 2015-2031 2,238,193 208,513 223,817
Property tax levy 81%
2015B Tax Increment Refunding 2006B TIF Bonds Tax increment 100%N/A 2015-2031 3,659,219 327,713 699,258
2014A Improvement 2014 road construction Special assessments 18%N/A 2014 - 2030 1,658,340 172,630 149,140
Property tax levy 82%
2014B Tax Increment Refunding 2007 TIF Bonds Tax increment 100%N/A 2015 -2031 3,114,713 282,725 595,205
2014C Street Reconstruction Refunding of 2008A - Silver Property tax levy 100%N/A 2014 - 2024 644,938 162,175 166,145
Refunding Lake Road improvements
2013A Water/Sewer Refunding of 2003B Water/ Charges for services 100%33% 2013-2024 603,700 147,950 2,355,173
Revenue Refunding Sewer Revenue Bonds
2013B Improvement 2013 road construction Special assessments 17%N/A 2013 - 2029 1,205,065 139,020 139,850
Property tax levy 83%
2012A Refunding 2012 road construction Special assessments 13%N/A 2012 - 2028 2,362,493 569,900 506,400
Refunding of 2006A and Property tax levy 87%
2007A Improvement Bonds
2012A Lease Revenue 2012 building improvements
Refunding Refunding of 2003A Lease Property tax levy 100%N/A 2012 - 2024 1,572,900 380,690 350,324
Revenue Bonds
2011B Improvement Refunding of 2004A and Special assessments 13%N/A 2012 - 2020 136,350 270,085 93,660
Refunding 2005A Improvement Bonds Property tax levy 87%
Revenue Pledged Current Year
63
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2020
Note 7 DEFINED BENEFIT PENSION PLANS – CITY
A. PLAN DESCRIPTION
The City participates in the following cost-sharing multiple-employer defined benefit pension plans
administered by the Public Employees Retirement Association of Minnesota (PERA). PERA’s defined
benefit pension plans are established and administered in accordance with Minnesota Statutes,
Chapters 353 and 356. PERA’s defined benefit pension plans are tax qualified plans under Section
401(a) of the Internal Revenue Code.
1. General Employees Retirement Fund (GERF)
All full-time (with the exception of employees covered by PEPFF) and certain part-time
employees of the City are covered by the General Employees Retirement Fund (GERF). GERF
members belong to the Coordinated Plan. Coordinated Plan members are covered by Social
Security.
2. Public Employees Police and Fire Fund (PEPFF)
The PEPFF, originally established for police officers and firefighters not covered by a local relief
association, now covers all police officers and firefighters hired since 1980. Effective July 1,
1999, the PEPFF also covers police officers and firefighters belonging to local relief associations
that elected to merge with and transfer assets and administration to PERA.
B. BENEFITS PROVIDED
PERA provides retirement, disability, and death benefits. Benefit provisions are established by state
statute and can only be modified by the state legislature. 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.
1. GERF Benefits
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. Two methods are used to
compute benefits for PERA’s Coordinated members. Members hired prior to July 1, 1989 receive
the higher of Method 1 or Method 2 formulas. Only Method 2 is used for members hired after
June 30, 1989. Under Method 1, the accrual rate for Coordinated members is 1.2% of average
salary for each of the first ten years of service and 1.7% of average salary for each additional year.
Under Method 2, the accrual rate for Coordinated Plan members is 1.7% of average salary for all
years of service. For members hired prior to July 1, 1989 a full annuity is available when age plus
years of service equal 90 and normal retirement age is 65. For members hired on or after July 1,
1989, normal retirement age is the age for unreduced Social Security benefits capped at 66.
Benefit increases are provided to benefit recipients each January. Beginning in 2019, the
postretirement increase is equal to 50% of the cost-of-living adjustment (COLA) announced by the
SSA, with a minimum increase of at least 1% and a maximum of 1.5%. Recipients that have been
receiving the annuity or benefit for at least a full year as of the June 30 before the effective date of
the increase will receive the full increase. For recipients receiving the annuity or benefit for at
least one month but less than a full year as of the June 30 before the effective date of the increase
will receive a reduced prorated increase. For members retiring on January 1, 2024 or later, the
64
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2020
increase will be delayed until normal retirement age (age 65 if hired prior to July 1, 1989, or age
66 for individuals hired on or after July 1, 1989). Members retiring under Rule of 90 are exempt
from the delay to normal retirement.
2. PEPFF Benefits
Benefits for the PEPFF members first hired after June 30, 2010 but before July 1, 2014 vest on a
prorated basis from 50% after five years up to 100% after ten years of credited service. Benefits
for PEPFF members first hired after June 30, 2014 vest on a prorated basis from 50% after ten
years up to 100% after twenty years of credited service. The annuity accrual rate is 3% of average
salary for each year of service. For PEPFF members who were first hired prior to July 1, 1989, a
full annuity is available when age plus years of service equal at least 90.
Benefit increases are provided to benefit recipients each January. Beginning in 2019, the
postretirement increase will be fixed at 1%. Recipients that have been receiving the annuity or
benefit for at least 36 months as of the June 30 before the effective date of the increase will
receive the full increase. For recipients receiving the annuity or benefit for at least 25 months but
less than 36 months as of the June 30 before the effective date of the increase will receive a
reduced prorated increase.
C. CONTRIBUTIONS
Minnesota Statutes Chapter 353 sets the rates for employer and employee contributions. Contribution
rates can only be modified by the state legislature.
1. GERF Contributions
Coordinated Plan members were required to contribute 6.5% of their annual covered salary in
fiscal year 2020 and the City was required to contribute 7.5% for Coordinated Plan members. The
City’s contributions to the GERF for the year ended December 31, 2020 were $184,656. The
City’s contributions were equal to the required contributions as set by state statute.
2. PEPFF Contributions
Police and Fire member’s contribution rates increased from 11.3% of pay to 11.8% and employer
rates increased from 16.95% to 17.70% on January 1, 2020. The City’s contributions to the
PEPFF for the year ended December 31, 2020 were $488,862. The City’s contributions were
equal to the required contributions as set by state statute.
D. PENSION COSTS
1. GERF Pension Costs
At December 31, 2020, the City reported a liability of $2,044,451 for its proportionate share of
GERF’s net pension liability. The City’s net pension liability reflected a reduction due to the State
of Minnesota’s contribution of $16 million. The State of Minnesota is considered a non-employer
contributing entity and the state’s contribution meets the definition of a special funding situation.
The State of Minnesota’s proportionate share of the net pension liability associated with the City
totaled $62,951. The net pension liability was measured as of June 30, 2020, and the total pension
65
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2020
liability used to calculate the net pension liability was determined by an actuarial valuation as of
that date. The City’s proportion of the net pension liability was based on the City’s contributions
received by PERA during the measurement period for employer payroll paid dates from July 1,
2019 through June 30, 2020, relative to the total employer contributions received from all of
PERA’s participating employers. The City’s proportionate share was 0.0341% at the end of the
measurement period and 0.0334% for the beginning of the period.
City's proportionate share of the net pension liability $2,044,451
State of Minnesota’s proportionate share of the net
pension liability associated with the City 62,951
Total $2,107,402
NFor the year ended December 31, 2020, the City recognized pension expense of $69,813 for its
proportionate share of the GERF’s pension expense. In addition, the City recognized an additional
$5,479 as pension expense (and grant revenue) for its proportionate share of the State of
Minnesota’s contribution of $16 million to the GERF.
At December 31, 2020, the City reported its proportionate share of the GERF’s deferred outflows
of resources and deferred inflows of resources related to pensions from the following sources:
Deferred Outflows Deferred Inflows
of Resources of Resources
Differences between expected and
actual economic experience $18,648 $7,735
Changes in actuarial assumptions - 76,025
Net difference between projected
and actual investment earnings 33,876 -
Changes in proportion 42,467 31,056
Contributions paid to PERA
subsequent to the measurement date 91,705 -
Total $186,696 $114,816
The $91,705 reported as deferred outflows of resources related to pensions resulting from City
contributions subsequent to the measurement date will be recognized as a reduction of the net
pension liability in the year ended December 31, 2021. Other amounts reported as deferred
outflows and inflows of resources related to pensions will be recognized in pension expense as
follows:
Year Ended Pension
December 31 Expense
2021 ($109,647)
2022 (8,076)
2023 48,503
2024 49,395
Thereafter -
66
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2020
2. PEPFF Pension Costs
At December 31, 2020, the City reported a liability of $3,122,595 for its proportionate share of the
PEPFF’s net pension liability. The net pension liability was measured as of June 30, 2020 and the
total pension liability used to calculate the net pension liability was determined by an actuarial
valuation as of that date. The City’s proportionate share of the net pension liability was based on
the City’s contributions received by PERA during the measurement period for employer payroll
paid dates from July 1, 2019 through June 30, 2020, relative to the total employer contributions
received from all of PERA’s participating employers. The City’s proportionate share was
0.2369% at the end of the measurement period and 0.2442% for the beginning of the period.
The State of Minnesota also contributed $13.5 million to PEPFF during the plan fiscal year ended
June 30, 2020. The contribution consisted of $4.5 million in direct state aid that does meet the
definition of a special funding situation and $9.0 million in fire state aid that does not meet the
definition of a special funding situation. The $4.5 million direct state was paid on October 1, 2019.
Thereafter, by October 1 of each year, the state will pay $9 million to the Police and Fire Fund
until full funding is reached or July 1, 2048, whichever is earlier. The $9 million in fire state aid
will continue until the fund is 90 percent funded, or until the State Patrol Plan (administered by the
Minnesota State Retirement System) is 90 percent funded, whichever occurs later.
As a result, the State of Minnesota is included as a non-employer contributing entity in the PEPFF
Schedule of Employer Allocations and Schedule of Pension Amounts by Employer, Current
Reporting Period Only (pension allocation schedules) for the $4.5 million in direct state aid.
PEPFF employers need to recognize their proportionate share of the State of Minnesota’s pension
expense (and grant revenue) under GASB 68 special funding situation accounting and financial
reporting requirements. For the year ended December 31, 2020, the City recognized pension
expense of $225,645 for its proportionate share of the Police and Fire Plan’s pension expense. In
addition, the City recognized an additional $22,625 as pension expense (and grant revenue) for its
proportionate share of the State of Minnesota’s contribution of $4.5 million to the PEPFF.
The State of Minnesota is not included as a non-employer contributing entity in the Police and
Fire Pension Plan pension allocation schedules for the $9 million in fire state aid. The City also
recognized $21,321 for the year ended December 31, 2020 as revenue and an offsetting reduction
of net pension liability for its proportionate share of the State of Minnesota’s on-behalf
contributions to the Police and Fire Fund.
67
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2020
At December 31, 2020, the City reported its proportionate share of the PEPFF’s deferred outflows
of resources and deferred inflows of resources related to pensions from the following sources:
Deferred Outflows Deferred Inflows
of Resources of Resources
Differences between expected and
actual economic experience $137,221 $138,598
Changes in actuarial assumptions 978,053 1,912,814
Net difference between projected
and actual investment earnings 104,328 -
Changes in proportion 183,105 579,067
Contributions paid to PERA
subsequent to the measurement date 250,113 -
Total $1,652,820 $2,630,479
The $250,113 reported as deferred outflows of resources related to pensions resulting from City
contributions subsequent to the measurement date will be recognized as a reduction of the net
pension liability in the year ended December 31, 2021. Other amounts reported as deferred
outflows and inflows of resources related to pensions will be recognized in pension expense as
outflows:
Year Ended Pension
December 31 Expense
2021 ($337,795)
2022 (953,543)
2023 (48,682)
2024 122,888
2025 (10,640)
Thereafter -
The net pension liability will be liquidated by the Employee Benefit Internal Service Fund.
E. ACTUARIAL ASSUMPTIONS
The total pension liability in the June 30, 2020 actuarial valuation was determined using an individual
entry-age normal actuarial cost method and the following actuarial assumptions:
Inflation 2.50% per year
Active Member Payroll Growth 3.25% per year
Investment Rate of Return 7.50%
Salary increases were based on a service-related table. Mortality rates for active members, retirees,
survivors, and disabilitants for all plans were based on RP 2014 tables for males or females, as
appropriate, with slight adjustments to fit PERA’s experience. Cost of living benefit increases after
retirement for retirees are assumed to be 1.25% per year for GERF and 1.0% per year for PEPFF.
68
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2020
Actuarial assumptions used in the June 30, 2020 valuation were based on the results of actuarial
experience studies. The most recent four-year experience study for GERF was completed in 2019.
The assumption changes were adopted by the Board and become effective with the July 1, 2020
actuarial valuation. The most recent four-year experience study for PEPFF was completed in 2020.
The following changes in actuarial assumptions and plan provisions occurred in 2020:
General Employees Fund
Changes in Actuarial Assumptions:
The price inflation assumption was decreased from 2.50% to 2.25%.
The payroll growth assumption was decreased from 3.25% to 3.00%.
As recommended in the June 30, 2019 experience study, assumed salary increase rates were
decreased 0.25% and assumed rates of retirement were changed resulting in more unreduced
(normal) retirements and slightly fewer Rule of 90 and early retirements. Assumed rates of
termination and disability were also changed.
The base mortality tables were changed from RP-2014 tables to Pub-2010 tables, with
adjustments.
The mortality improvement scale was changed from Scale MP-2018 to Scale MP-2019.
The assumed spouse age difference was changed from two years older for females to one year
older.
The assumed number of married male new retirees electing the 100% Joint & Survivor option
changed from 35% to 45%. The assumed number of married female new retirees electing the
100% Joint & Survivor option changed from 15% to 30%. The corresponding number of married
new retirees electing the Life annuity option was adjusted accordingly.
Changes in Plan Provisions:
Augmentation for current privatized members was reduced to 2.0% for the period July 1, 2020
through December 31, 2023 and 0.0% after. Augmentation was eliminated for privatizations
occurring after June 30, 2020.
Police and Fire Fund
Changes in Actuarial Assumptions:
The mortality projection scale was changed from MP-2018 to MP-2019.
69
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2020
The State Board of Investment, which manages the investments of PERA, prepares an analysis of the
reasonableness on a regular basis of the long-term expected rate of return using a building-block
method in which best-estimate ranges of expected future rates of return are developed for each major
asset class. These ranges are combined to produce an expected long-term rate of return by weighting
the expected future rates of return by the target asset allocation percentages. The target allocation and
best estimates of geometric real rates of return for each major asset class are summarized in the
following table:
Target Long-Term Expected
Asset Class Allocation Real Rate of Return
Domestic Stocks 35.5%5.10%
International Stocks 17.5%5.30%
Bonds (Fixed Income)20.0%0.75%
Alternative Assets (Private Markets) 25.0%5.90%
Cash 2.0%0.00%
Total 100%
F. DISCOUNT RATE
The discount rate used to measure the total pension liability in 2020 was 7.5%. The projection of cash
flows used to determine the discount rate assumed that contributions from plan members and
employers will be made at the rate set in Minnesota statutes. Based on that assumption, the fiduciary
net position of the GERF and the PEPFF was projected to be available to make all projected future
benefit payments of current plan members. Therefore, the long-term expected rate of return on
pension plan investments was applied to all periods of projected benefit payments to determine the
total pension liability.
G. PENSION LIABILITY SENSITIVITY
The following presents the City’s proportionate share of the net pension liability for all plans it
participates in, calculated using the discount rate disclosed in the preceding paragraph, as well as what
the City’s proportionate share of the net pension liability would be if it were calculated using a
discount rate 1 percentage point lower or 1 percentage point higher than the current discount rate:
1% Decrease in 1% Increase in
Discount Rate (6.5%) Discount Rate (7.5%) Discount Rate (8.5%)
Proportionate share of the
GERF net pension liability $3,276,546 $2,044,451 $1,028,072
Proportionate share of the
PEPFF net pension liability $6,223,782 $3,122,595 $556,907
H. PENSION PLAN FIDUCIARY NET POSITION
Detailed information about each pension plan’s fiduciary net position is available in a separately-
issued PERA financial report that includes financial statements and required supplementary
information. That report may be obtained at www.mnpera.org.
70
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2020
I. PENSION EXPENSE
Pension expense recognized by the City for the year ended December 31, 2020 is as follows:
GERF $75,292
PEPFF 248,270
Fire Relief (5,115)
Total $318,447
Note 8 DEFINED BENEFIT PENSION PLAN – FIRE DEPARMENT
A. PLAN DESCRIPTION
The City’s Fire Department participates in the Statewide Volunteer Firefighter Retirement Plan (SVF),
an agent multiple-employer lump-sum defined benefit pension plan administered by the Public
Employees Retirement Association of Minnesota (PERA). The SVF plan covers volunteer firefighters
of municipal fire departments or independent nonprofit firefighting corporations that have elected to
join the plan. At December 31, 2020 (measurement date), the plan covered 23 active firefighters and
10 vested terminated fire fighters whose pension benefits are deferred. The plan is established and
administered in accordance with Minnesota Statutes, Chapter 353G.
B. BENEFITS PROVIDED
The SVF provides lump-sum retirement, death, and supplemental benefits to covered firefighters and
survivors. Benefits are paid based on the number of years of service multiplied by a benefit level
approved by the City. Members are eligible for a lump-sum retirement benefit at 50 years of age with
five years of service. Plan provisions include a pro-rated vesting schedule that increases from 5 years
at 40 percent through 20 years at 100 percent.
C. CONTRIBUTIONS
The SVF is funded by fire state aid, investment earnings and, if necessary, employer contributions as
specified in Minnesota statutes, and voluntary City contributions. The State of Minnesota contributed
$58,407 in fire state aid to the plan for the year ended December 31, 2020. Required employer
contributions are calculated annually based on statutory provisions. The City was not statutorily
required to make any contributions to the SVF plan for the year ended December 31, 2020. The City’s
voluntary contributions to the SVF plan for the year ended December 31, 2000 were $6,000.
71
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2020
D. PENSION COSTS
At December 31, 2020, the City reported a net pension asset of $422,323 for the SVF plan. The net
pension asset was measured as of December 31, 2020. The total pension liability used to calculate the
net pension asset in accordance with GASB 68 was determined by PERA applying an actuarial
formula to specific census data certified by the fire department. The following table presents the
changes in net pension liability during the year.
Total Pension Plan Fiduciary Net Pension
Liability Net Position Liability (Asset)
(a)(b)(a) - (b)
Balance at December 31, 2019 $741,032 $1,001,560 ($260,528)
Changes for the year:
Service cost 28,181 - 28,181
Interest 46,153 - 46,153
Differences between expected and (33,785) - (33,785)
actual experience
Changes of assumptions - - -
Changes in benefit terms - - -
Contributions - employer - 6,000 (6,000)
Contributions - State of MN - 58,407 (58,407)
Contributions - employee - - -
Net investment income - 150,122 (150,122)
Benefit payments - - -
Administrative expense - (12,185) 12,185
Net changes 40,549 202,344 (161,795)
Balance at December 31, 2020 $781,581 $1,203,904 ($422,323)
Increase (Decrease)
There were no benefit provision changes during the measurement period.
For the year ended December 31, 2020, the City recognized pension expense of ($5,115).
At December 31, 2020, the City reported deferred inflows of resources from the following sources:
Deferred Outflows Deferred Inflows
of Resources of Resources
Differences between expected and actual experience $ - $107,015
Changes of assumptions 14,093 17,365
Net differences between projected and
actual investment earnings - 65,012
Total $14,093 $189,392
72
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2020
Amounts reported as deferred outflows and inflows of resources related to pensions will be recognized
in pension expense as follows:
Year ended Pension
December 31 Expense
2021 ($32,448)
2022 (24,479)
2023 (46,783)
2024 (37,290)
2025 (10,895)
Thereafter (23,404)
E. ACTUARIAL ASSUMPTIONS
The total pension liability at December 31, 2020, was determined using the entry age normal actuarial
cost method and the following actuarial assumptions:
Retirement eligibility at the later of age 50 or 20 years of service
Investment rate of return of 6.0%
Inflation rate of 3.0%
The expected investment rate of return for 2020 is 6.0%, a .75% increase from 2019. The inflation rate
assumption is 3.0% for 2020, a .50% increase from 2019.
F. DISCOUNT RATE
The discount rate used to measure the total pension liability was 6.0%. The projection of cash flows
used to determine the discount rate assumed that contributions to the SVF plan will be made as
specified in statute. Based on that assumption and considering the funding ratio of the plan, the
fiduciary net position was projected to be available to make all projected future benefit payments of
current active and inactive members. Therefore, the long-term expected rate of return on pension plan
investments was applied to all periods of projected benefit payments to determine the total pension
liability.
G. PENSION LIABILITY SENSITIVITY
The following presents the City’s net pension asset for the SVF plan, calculated using the discount rate
disclosed in the preceding paragraph, as well as what the City’s net pension asset would be if it were
calculated using a discount rate 1% lower or 1% higher than the current discount rate:
Current
1% Decrease Discount Rate 1% Increase
(5.0%)(6.0%)(7.0%)
Net pension liability (asset) ($394,053) ($422,323) ($448,508)
73
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2020
H. PLAN INVESTMENTS
1. Investment Policy
The Minnesota State Board of Investment (SBI) is established by Article XI of the Minnesota
Constitution to invest all state funds. Its membership as specified in the Constitution is comprised
of the Governor (who is designated as chair of the Board), State Auditor, Secretary of State and
State Attorney General.
All investments undertaken by the SBI are governed by the prudent person rule and other
standards codified in Minnesota Statutes, Chapter 11A and Chapter 353G.
Within the requirements defined by state law, the SBI, with assistance of the SBI staff and the
Investment Advisory Council, establishes investment policies for all funds under its control.
These investment policies are tailored to the particular needs of each fund and specify investment
objectives, risk tolerance, asset allocation, investment management structure and specific
performance standards. Studies guide the on-going management of the funds and are updated
periodically.
2. Asset Allocation
To match the long-term nature of the pension obligations, the SBI maintains a strategic asset
allocation for the SVF that includes allocations to domestic equity, international equity, bonds and
cash equivalents. The long-term target asset allocation and long-term expected real rate of return
is the following:
Target Long-Term Expected
Asset Class Allocation Real Rate of Return
Domestic Stocks 35% 5.10%
International Stocks 15% 5.30%
Bonds 45% 0.75%
Cash 5% 0.00%
100%
The 6% long-term expected rate of return on pension plan investments was determined using a
building-block method. Best estimates for expected future real rates of return (expected returns,
net of inflation) were developed for each asset class using both long-term historical returns and
long-term capital market expectations from a number of investment management and consulting
organizations. The asset class estimates and the target allocations were then combined to produce
a geometric, long-term expected real rate of return for the portfolio. Inflation expectations were
applied to derive the nominal rate of return for the portfolio.
3. Description of Significant Investment Policy Changes During the Year
The SBI made no significant changes to their investment policy during fiscal year 2020 for the
Volunteer Firefighter Fund.
74
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2020
I. PENSION PLAN FIDUCIARY NET POSITION
Detailed information about the SVF plan’s fiduciary net position at June 30, 2020 is available in a
separately-issued PERA financial report that includes financial statements and required supplementary
information. That report may be obtained at www.mnpera.org.
Note 9 DEFINED CONTRIBUTION PLAN
All city council members of the City of St. Anthony are covered by the Public Employees Defined Contribution
Plan (PEDCP), a multiple-employer deferred compensation plan administered by 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.
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. An eligible elected official
who decides to participate contributes 5% of salary which is matched by the elected official's employer. For
ambulance service personnel, employer contributions are determined by the employer, and for salaried
employees, contributions must be a fixed percentage of salary. Employer contributions for volunteer personnel
may be a unit value for each call or period of alert duty. Employees who are paid for their services may elect to
make member contributions in an amount not to exceed the employer share. 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% of employer contributions and
twenty-five hundredths of 1% (.0025) of the assets in each member's account annually.
Total contributions made by the City during fiscal year 2020 were:
Required
Employer
Employee (Pension Expense) Employee Employer Rate
$1,553 $1,553 5% 5% 5%
Contribution Amount Percentage of Covered Payroll
75
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2020
Note 10 POST-EMPLOYMENT BENEFITS OTHER THAN PENSIONS (OPEB)
A. PLAN DESCRIPTION
The City provides post-employment health care benefits, as defined in paragraph B, through its group
health insurance plan (the plan). The plan is a single-employer defined benefit OPEB plan
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. OPEB is funded on a pay-as-you
go basis. No assets are accumulated in a trust that meets the criteria in paragraph 4 of GASB
Statement No. 75. The plan does not issue a stand-alone financial report.
B. BENEFITS PROVIDED
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. Active employees, who retire from the City when over age 50 and with 20 years
of service, may continue coverage with respect to both themselves and their eligible dependent(s)
under the City’s health benefits program until age 65.
The City provides health coverage for peace officers or firefighters disabled or killed in the line of duty
in accordance with Minnesota Statute 299A.465. The amount of coverage provided is equal to the
employer portion of health insurance premiums that would have otherwise been paid if the officer or
firefighter was an active employee. During 2020, the City did not have any police officers or
firefighters eligible for this benefit.
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, Medicare becomes the primary insurer
and the City’s plan becomes secondary.
C. PARTICIPANTS
As of the January 1, 2020 actuarial valuation, participants of the plan consisted of:
Active employees 56
Inactive employees or beneficiaries
currently receiving benefits 4
Total 60
76
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2020
D. TOTAL OPEB LIABILITY AND CHANGES IN TOTAL OPEB LIABILITY
The City’s total OPEB liability of $614,487 was measured as of December 31, 2019 and was
determined by an actuarial valuation as of January 1, 2020. Changes in the total OPEB liability during
2020 were:
Balance - beginning of year $846,113
Changes for the year:
Service cost 49,034
Interest 36,179
Changes of benefit terms -
Differences between expected and actual experience (347,833)
Changes in assumptions 52,159
Benefit payments (21,165)
Net changes (231,626)
Balance - end of year $614,487
Changes in assumptions reflect a change in the discount rate from 4.09% in 2019 to 2.74% in 2020.
E. ACTUARIAL ASSUMPTIONS AND OTHER INPUTS
The total OPEB liability in the January 1, 2020 actuarial valuation was determined using the following
actuarial assumptions and other inputs, applied to all periods included in the measurement, unless
otherwise specified:
Inflation 3.25%
Salary increases 3.25% for Police and Fire after 25 years of service and
after 26 years of service for all other employees
Discount rate 2.74%
Investment rate of return NA
Healthcare cost trend rates 7.67% for 2020, decreasing each year to an
ultimate rate of 5% for 2028 and beyond
Retirees' share of benefit-related costs 100%
Since the plan is funded on a pay-as-you-go basis, both the discount rate and the investment rate of
return was based on the 20 year AA rated municipal bond rate as of December 31, 2019, obtained from
the Bond Buyer 20-Bond G.O. index.
Mortality and retirement rates are the rates used in the PERA plan of which the employee, retiree or
beneficiary is a participant.
77
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2020
F. SENSITIVITY OF THE TOTAL OPEB LIABILITY TO CHANGES IN THE DISCOUNT
RATE
The following presents the total OPEB liability of the City, as well as what the City’s total OPEB
liability would be if it were calculated using a discount rate that is 1% lower (3.09%) or 1% higher
(5.09%) than the current discount rate:
1% Decrease Discount Rate 1% Increase
(1.74%)(2.74%)(3.74%)
Total OPEB liability $653,603 $614,487 $575,686
G. SENSITIVITY OF THE TOTAL OPEB LIABILITY TO CHANGES IN THE HEALTHCARE
COST TREND RATES
The following presents the total OPEB liability of the City, as well as what the City’s total OPEB
liability would be if it were calculated using healthcare cost trend rates that are 1% lower (7%
decreasing to 4%) or 1% higher (9% decreasing to 6%) than the current healthcare cost trend rates:
Healthcare Cost
1% Decrease Trend Rates 1% Increase
(6.67% decreasing to 4%) (7.67% decreasing to 5%) (8.67% decreasing to 6%)
Total OPEB liability $542,408 $614,487 $699,279
H. OPEB EXPENSE AND DEFERRED OUTFLOWS AND INFLOWS OF RESOURCES
RELATED TO OPEB
For the year ended December 31, 2020, the City recognized $20,200 of OPEB expense. At December
31, 2020, the City reported deferred outflows and inflows of resources related to OPEB from the
following sources:
Deferred Outflows Deferred Inflows
of Resources of Resources
Changes of assumptions $61,543 $35,013
Differences between expected
and actual experience - 310,639
Contributions subsequent to
the measurement date 21,165 -
Total
$82,708 $345,652
$21,165 reported as deferred outflows of resources resulting from City contributions subsequent to the
measurement date will be recognized as a reduction of the net OPEB liability in the year ended
December 31, 2021.
78
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2020
Amounts reported as deferred outflows and inflows of resources related to OPEB will be recognized in
OPEB expense as follows:
Year Ended OPEB
December 31, Expense
2021 ($33,759)
2022 (33,759)
2023 (33,759)
2024 (33,759)
2025 (33,759)
Thereafter (115,314)
($284,109)
Note 11 INTERFUND RECEIVABLES/PAYABLES, LOANS AND TRANSFERS
Individual fund interfund receivable and payable balances at December 31, 2020 are as follows:
Fund Receivable Payable
Governmental activities:
Major funds:
General Fund $159,578 $ -
Street Improvement Project Fund - 159,578
Total $159,578 $159,578
Interfund payables and receivables are representative of lending/borrowing arrangements to cover deficit cash
balances at the end of the fiscal year.
Interfund loans receivable and payable balances at December 31, 2020 are as follows:
Fund Receivable Payable Purpose
Major funds:
Public Utilities Infrastructure $981,806 $ -
HRA TIF Improvements 1,369,416 2,328,742 Provide financing for pay off of Fannie Mae loan
Nonmajor funds:
Revolving Improvement - 22,480 Provide financing for Arbors Alley Project
-
Total $2,351,222 $2,351,222
79
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2020
Interfund transfers:
Street Public Nonmajor Internal
General Improvement Utilities Governmental Service
Fund Debt Service Infrastructure Funds Fund Total
Governmental activities:
General Fund $ - $ - $ - $99,088 $86,300 $185,388
HRA TIF Improvements 12,500 - - 610,437 - 622,937
Street Improvement Project Fund 181,247 181,247
Nonmajor - 108,577 251,610 50,523 - 410,7 10
Business-type activities:
Liquor 250,000 - - - - 250,000
Total transfers $262,500 $108,577 $251,610 $941,295 $86,300 $1,650,282
Transfer out
Major Funds
Transfer In
Governmental Activities
All 2020 transfers are considered routine and consistent with previous practices.
Note 12 DEFICIT FUND BALANCES/NET POSITION
The City has deficit fund balances/net position at December 31, 2020 as follows:
Fund Amount
Nonmajor funds:
Internal Service Fund $7,345,419
The Internal Service Fund includes the state retirement plans and OPEB and the retirement of pension and
OPEB deficits are dependent upon variables, including contribution rates, investment earnings, and actuarial
assumptions.
Note 13 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.
80
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2020
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. The City did not have
significant settlements in excess of insurance coverage for any of the past three fiscal years.
B. LITIGATION
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 judgement of the City management,
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, 2020.
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 three tax increment pay-as-you-go agreements. The agreements are not a general
obligation of the City and are payable solely from available tax increment. Accordingly, these
agreements are not reflected in the financial statements of the City. Details of the pay-as-you-go notes
are as follows:
81
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2020
TIF District #3-5, Landings at Silver Lake Village:
Issued in 2004 in the principal sum of $4,464,407 with an interest rate of 6.75% per annum.
Principal and interest shall be paid on February 1 and August 1 thereafter to and including February
1, 2029. Payments are payable solely from available tax increment derived from the
developed/redeveloped property and paid to the City. The pay-as-you-go note provides for payment
to the developer equal to 90% of all tax increment received in the prior six months. The payment
reimburses the developer for public improvements. The City shall have no obligation to pay any
unpaid balance of principal or accrued interest that may remain after the final payment on February
1, 2029. The current year abatement (TIF note payments) amount to $547,241. At December 31,
2020, the principal amount outstanding on the note was $2,870,220.
TIF District #3-5, Phase II Town Homes:
Issued in 2006 in the principal sum of $937,520 with an interest rate of 6% per annum. Principal
and interest shall be paid on February 1 and August 1 thereafter to and including August 1, 2031.
Payments are payable solely from available tax increment derived from the developed/redeveloped
property and paid to the City. The pay-as-you-go note provides for payment to the developer equal
to 95% of all tax increment received in the prior six months. The payment reimburses the developer
for public improvements. The City shall have no obligation to pay any unpaid balance of principal
or accrued interest that may remain after the final payment on August 1, 2031. The current year
abatement (TIF note payments) amount to $55,503. At December 31, 2020, the principal amount
outstanding on the note was $937,520.
TIF District # 3-5, The Legends
Issued in 2016 in the principal sum of $1,023,000 with an interest rate of 5% per annum. Principal
and interest shall be paid on February 1 and August 1 thereafter to and including February 1, 2028.
Payments are payable solely from available tax increment derived from the developed/redeveloped
property and paid to the City. The pay-as-you-go note provides for payment to the developer equal
to 90% of all tax increment received in the prior six months. The payment reimburses the developer
for public improvements. The City shall have no obligation to pay any unpaid balance of principal
or accrued interest that may remain after the final payment on February 1, 2028. The current year
abatement (TIF note payments) amount to $179,085. At December 31, 2020, the principal amount
outstanding on the note was $360,360.
F. ARBITRAGE
The City issued greater than $5 million of bonds in the years 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 14 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.
82
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2020
These future scheduled tax levies are not shown as assets in the accompanying financial statements at December
31, 2020.
Note 15 FUND BALANCE
A. CLASSIFICATIONS
At December 31, 2020, a summary of the governmental fund balance classifications are as follows:
Street
Improvement Street Public
Debt HRA TIF Improvement Utilities
General Fund Service Projects Projects Infrastructure Other Funds Total
Nonspendable:
Prepaid items $143,571 $ - $730 $ - $ - $2,239 $146,540
Inventory 16,211 - - - - - 16,211
Total nonspendable 159,782 0 730 0 0 2,239 162,751
Restricted for:
Tax increment - - 1,944,535 - - - 1,944,535
Public safety - - - - - 46,912 46,912
Capital Improvements - - - 653,305 - - 653,305
Debt service - 4,247,885 - - - 1,062,728 5,310,613
Total restricted 0 4,247,885 1,944,535 653,305 0 1,109,640 7,955,365
Committed to:
Recycling - - - - - 1,214 1,214
Community Center 64,036 64,036
Redevelopment activities - - - - - 136,572 136,572
Total committed 0000 0201,822 201,822
Assigned to:
Recycling - - - - - 3,575 3,575
Street improvements/rehabilitiation - - - 185,529 - - 185,529
Building improvements - - - - - 457,948 457,948
Public safety - - - - - 15,247 15,247
Public utilities infrastructure - - - - 4,142,018 - 4,142,018
Parks and recreation - - - - - 65,913 65,913
Other capital improvements - - - - - 1,643,632 1,643,632
Total assigned 0 0 0 185,529 4,142,018 2,186,315 6,513,862
Unassigned 3,238,208 - (506,944) - - (17,222) 2,714,042
Total $3,397,990 $4,247,885 $1,438,321 $838,834 $4,142,018 $3,482,794 $17,547,842
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 and financial services to other cities). At December 31, 2020, the unassigned fund balance
of the General Fund was 47% of the subsequent year’s budgeted expenditures.
83
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2020
Note 16 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, 2020, there was one series of Multi-family Housing Revenue Bonds outstanding. The
aggregate issued amount was $16,950,000 which consists of one 2013 issue of $16,950,000. The balance
outstanding at December 31, 2020 is unavailable.
Note 17 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 2020 and 2019 is computed as follows:
December 31, December 31,
2020 2019
Market value:
Ramsey County $381,988,800 $332,722,100
Hennepin County 712,852,200 584,189,715
Total market value 1,094,841,000 916,911,815
Debt limit percentage 3% 3%
Debt limit 32,845,230 27,507,354
Amount of debt applicable to debt limit:
Total bonded debt 29,135,000 29,170,000
Less nonapplicable debt:
Revenue bonds (water, sewer) (580,000) (715,000)
Tax abatement bonds (2,245,000) (2,425,000)
Improvement bonds (17,985,000) (16,715,000)
Tax increment bonds (5,795,000) (6,240,000)
Cash and investments in applicable debt
service funds (796,747) (824,814)
Total amount of debt applicable to debt limit 1,733,253 2,250,186
Legal debt margin $31,111,977 $25,257,168
84
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2020
Note 18 RECENTLY ISSUED ACCOUNTING STANDARDS
The Governmental Accounting Standards Board (GASB) recently approved the following statements which
were not implemented for these financial statements:
Statement No. 87 Leases. The provisions of this Statement are effective for reporting periods beginning
after June 15, 2021.
Statement No. 91 Conduit Debt Obligations. The provisions of this Statement are effective for reporting
periods beginning after December 15, 2021.
Statement No. 92 Omnibus 2020. The provisions of this Statement are effective for reporting periods
beginning after June 15, 2021.
Statement No. 93 Replacement of Interbank Offered Rates. The provisions of this Statement contain
multiple effective dates, the first being for reporting periods beginning after June 15, 2020.
Statement No. 94 Public-Private and Public-Public Partnerships and Availability Payment Arrangements.
The provisions of this Statement are effective for reporting periods beginning after June 15, 2022.
Statement No. 96 Subscription – Based Information Technology Arrangements. The provisions of this
Statement are effective for reporting periods beginning after June 15, 2022
The effect these standards may have on future financial statements is not determinable at this time, but it is
expected that Statement No. 87 may have a material impact.
Note 19 SUBSEQUENT EVENTS
On May 18, 2021, the City issued $2,970,000 of Series 2021A General Obligation Bonds. $2,085,000 of the
new issuance will be used for road reconstruction and repair. The remaining $885,000 will be used to refund the
2013B General Obligation Improvement Bonds.
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REQUIRED SUPPLEMENTARY INFORMATION
87
CITY OF ST. ANTHONY, MINNESOTA
REQUIRED SUPPLEMENTARY INFORMATION Statement 9
BUDGETARY COMPARISON SCHEDULE - GENERAL FUND Page 1 of 5
For The Year Ended December 31, 2020
With Comparative Totals For December 31, 2019
2020 2019
Actual Variance with Actual
Original Final Amounts Final Budget Amounts
Revenues:
General property taxes $4,766,279 $4,766,279 $4,869,556 $103,277 $4,546,353
Special assessments - - 609 609 1,685
Licenses and permits 255,696 255,696 318,232 62,536 268,565
Intergovernmental:
Federal:
Public safety grants 41,926 41,926 741,865 699,939 54,661
State:
Local governement aid 609,553 609,553 613,302 3,749 553,865
Police aid 194,192 194,192 205,476 11,284 197,500
Fire aid 53,715 53,715 - (53,715) 53,716
Municipal state aid - street maintenance 96,265 96,265 103,441 7,176 96,265
PERA aid 7,197 7,197 - (7,197)7,197
County:
Other 12,500 12,500 9,856 (2,644) 11,552
Local:
School District DARE 14,500 14,500 16,326 1,826 14,500
Other 14,875 14,875 1,064 (13,811)4,432
Total intergovernmental 1,044,723 1,044,723 1,691,330 646,607 993,688
Charges for services:
Police contracts 747,071 747,071 747,071 - 713,204
Antenna rental - water tower 60,267 60,267 60,280 13 58,232
Other 258,533 258,533 246,466 (12,067) 250,142
Total charges for services 1,065,871 1,065,871 1,053,817 (12,054) 1,021,578
Cable franchise fees 86,370 86,370 95,517 9,147 97,200
Fines and forfeits 71,900 71,900 75,574 3,674 85,087
Contributions and donations 1,000 1,000 400 (600)500
Other revenue:
Investment income 31,500 31,500 36,153 4,653 58,472
Refunds and reimbursments 12,000 12,000 14,998 2,998 9,752
Miscellaneous - other 19,000 19,000 40,768 21,768 14,362
Total other revenue 62,500 62,500 91,919 29,419 82,586
Total revenues 7,354,339 7,354,339 8,196,954 842,615 7,097,242
Expenditures:
General government:
Mayor and council:
Current:
Personal services 40,724 40,724 44,288 (3,564) 40,724
Other services and charges 48,069 48,069 58,944 (10,875) 45,343
Total mayor and council 88,793 88,793 103,232 (14,439) 86,067
Budgeted Amounts
See accompanying notes to the required supplementary information.
88
CITY OF ST. ANTHONY, MINNESOTA
REQUIRED SUPPLEMENTARY INFORMATION Statement 9
BUDGETARY COMPARISON SCHEDULE - GENERAL FUND Page 2 of 5
For The Year Ended December 31, 2020
With Comparative Totals For December 31, 2019
2020 2019
Actual Variance with Actual
Original Final Amounts Final Budget Amounts
Expenditures: (continued)
General government: (continued)
Public relations/cable:
Current:
Personal services $11,448 $11,448 $11,435 $13 $11,004
Supplies 1,425 1,425 44 1,381 52
Other services and charges 35,488 35,488 35,454 34 33,180
Total public relations/cable 48,361 48,361 46,933 1,428 44,236
General management:
Current:
Personal services 199,565 199,565 179,531 20,034 104,071
Supplies 250 250 183 67 862
Other services and charges 31,360 31,360 16,815 14,545 25,949
Total general management 231,175 231,175 196,529 34,646 130,882
Elections:
Current:
Personal services 120,699 120,699 118,981 1,718 30,982
Supplies 525 525 1,863 (1,338) 1,464
Other services and charges 2,178 2,178 4,596 (2,418) 1,667
Total elections 123,402 123,402 125,440 (2,038) 34,113
Finance:
Current:
Personal services 160,191 160,191 169,046 (8,855) 257,175
Supplies 9,620 9,620 8,707 913 8,796
Other services and charges 127,406 127,406 129,012 (1,606) 121,523
Total finance 297,217 297,217 306,765 (9,548) 387,494
Assessing:
Current:
Personal services 4,591 4,591 4,548 43 4,318
Supplies 170 170 83 87 166
Other services and charges 68,160 68,160 69,000 (840) 64,000
Total assessing 72,921 72,921 73,631 (710) 68,484
Legal:
Current:
Contracted services 142,250 142,250 79,720 62,530 92,198
Planning and zoning:
Current:
Personal services 14,428 14,428 12,931 1,497 13,001
Supplies 135 135 35 100 133
Other services and charges 65,695 65,695 70,837 (5,142) 82,462
Total planning and zoning 80,258 80,258 83,803 (3,545) 95,596
Budgeted Amounts
See accompanying notes to the required supplementary information.
89
CITY OF ST. ANTHONY, MINNESOTA
REQUIRED SUPPLEMENTARY INFORMATION Statement 9
BUDGETARY COMPARISON SCHEDULE - GENERAL FUND Page 3 of 5
For The Year Ended December 31, 2020
With Comparative Totals For December 31, 2019
2020 2019
Actual Variance with Actual
Original Final Amounts Final Budget Amounts
Expenditures: (continued)
General government: (continued)
General government buildings:
Current:
Other services and charges $122,670 $122,670 $124,434 ($1,764) $126,138
Total general government 1,207,047 1,207,047 1,140,487 66,560 1,065,208
Public safety:
Civil defense:
Current:
Personal services 80,653 80,653 82,075 (1,422) 77,381
Supplies 559 559 222 337 -
Other services and charges 2,725 2,725 1,340 1,385 2,135
Total civil defense 83,937 83,937 83,637 300 79,516
Other public safety
Current:
Personal services - - 103,851 (103,851) -
Other services and charges - - 274,504 (274,504) -
Total other public safety 0 0 378,355 (378,355)0
Police protection:
Current:
Personal services 3,076,349 3,076,349 3,120,270 (43,921) 2,930,969
Supplies 102,282 102,282 75,113 27,169 80,763
Other services and charges 268,850 268,850 250,242 18,608 386,722
Total police protection 3,447,481 3,447,481 3,445,625 1,856 3,398,454
Fire protection:
Current:
Personal services 1,055,879 1,055,879 980,385 75,494 1,002,287
Supplies 34,698 34,698 37,220 (2,522) 23,244
Other services and charges 77,030 77,030 93,182 (16,152) 64,995
Total fire protection 1,167,607 1,167,607 1,110,787 56,820 1,090,526
Protective inspections:
Current:
Personal services 15,006 15,006 14,008 998 14,745
Supplies 104 104 154 (50) -
Other services and charges 88,584 88,584 119,386 (30,802) 91,923
Total protective inspections 103,694 103,694 133,548 (29,854) 106,668
DARE program:
Current:
Personal services 13,731 13,731 10,981 2,750 10,502
Supplies 2,000 2,000 - 2,000 2,595
Total DARE program 15,731 15,731 10,981 4,750 13,097
Total public safety 4,818,450 4,818,450 5,162,933 (344,483) 4,688,261
Budgeted Amounts
See accompanying notes to the required supplementary information.
90
CITY OF ST. ANTHONY, MINNESOTA
REQUIRED SUPPLEMENTARY INFORMATION Statement 9
BUDGETARY COMPARISON SCHEDULE - GENERAL FUND Page 4 of 5
For The Year Ended December 31, 2020
With Comparative Totals For December 31, 2019
2020 2019
Actual Variance with Actual
Original Final Amounts Final Budget Amounts
Public works:
Street maintenance:
Current:
Personal services $480,551 $480,551 $462,909 $17,642 $412,675
Supplies 23,609 23,609 27,325 (3,716) 22,146
Other services and charges 153,476 153,476 104,724 48,752 109,299
Total street maintenance 657,636 657,636 594,958 62,678 544,120
Equipment maintenance:
Current:
Personal services 47,954 47,954 43,863 4,091 83,156
Supplies 232,361 232,361 142,749 89,612 238,490
Other services and charges 61,217 61,217 56,079 5,138 77,108
Total equipment maintenance 341,532 341,532 242,691 98,841 398,754
Tree and weed care:
Current:
Personal services 45,142 45,142 43,359 1,783 43,761
Supplies - - 40 (40) 633
Other services and charges 4,429 4,429 3,536 893 4,133
Total tree and weed care 49,571 49,571 46,935 2,636 48,527
Total public works 1,048,739 1,048,739 884,584 164,155 991,401
Parks and recreation:
Park maintenance:
Current:
Personal services 163,775 163,775 152,694 11,081 159,102
Supplies 15,810 15,810 15,700 110 15,538
Other services and charges 45,191 45,191 29,817 15,374 41,503
Total park maintenance 224,776 224,776 198,211 26,565 216,143
Recreation:
Current:
Community services 52,176 52,176 52,176 - 52,176
Total parks and recreation 276,952 276,952 250,387 26,565 268,319
Budgeted Amounts
See accompanying notes to the required supplementary information.
91
CITY OF ST. ANTHONY, MINNESOTA
REQUIRED SUPPLEMENTARY INFORMATION Statement 9
BUDGETARY COMPARISON SCHEDULE - GENERAL FUND Page 5 of 5
For The Year Ended December 31, 2020
With Comparative Totals For December 31, 2019
2020 2019
Actual Variance with Actual
Original Final Amounts Final Budget Amounts
Expenditures: (continued)
Nondepartmental:
Supplies $56,900 $56,900 $13,869 $43,031 $69,520
Insurance deductible costs 15,000 15,000 14,606 394 8,713
Total nondepartmental 71,900 71,900 28,475 43,425 78,233
Total expenditures 7,423,088 7,423,088 7,466,866 (43,778) 7,091,422
Revenues over (under) expenditures (68,749) (68,749) 730,088 798,837 5,820
Other financing sources (uses):
Transfers in 262,500 262,500 262,500 - 258,200
Transfers out (182,888) (182,888) (185,388) (2,500) (180,994)
Total other financing sources (uses) 79,612 79,612 77,112 (2,500) 77,206
Net change in fund balance $10,863 $10,863 807,200 $796,337 83,026
Fund balance - January 1 2,590,790 2,507,764
Fund balance - December 31 $3,397,990 $2,590,790
Budgeted Amounts
See accompanying notes to the required supplementary information.
92
CITY OF ST. ANTHONY, MINNESOTA
REQUIRED SUPPLEMENTARY INFORMATION Statement 10
SCHEDULE OF CHANGES IN THE CITY'S TOTAL OPEB LIABILITY AND RELATED RATIOS
For The Year Ended December 31, 2020
2020 2019 2018
Total OPEB liability:
Service cost $49,034 $66,821 $60,682
Interest 36,179 29,763 28,711
Changes of benefit terms - - -
Differences between expected and actual experience (347,833) - -
Changes in assumptions 52,159 (43,327) 21,006
Benefit payments (21,165) (11,075) (10,672)
Net change in total OPEB liability (231,626) 42,182 99,727
Total OPEB liability - beginning 846,113 803,931 704,204
Total OPEB liability - ending $614,487 $846,113 $803,931
Covered-employee payroll $4,500,000 $4,897,999 $4,627,624
Total OPEB liability as a percentage of covered-employee payroll 13.7%17.3% 17.4%
The schedule is provided prospectively beginning with the City's fiscal year ended December 31, 2018 and is intended to
show a ten year trend. Additional years will be added as they become available.
See accompanying notes to the required supplementary information.
93
CITY OF ST. ANTHONY, MINNESOTA
REQUIRED SUPPLEMENTARY INFORMATION Statement 11
SCHEDULE OF PROPORTIONATE SHARE OF NET PENSION LIABILITY -
GENERAL EMPLOYEES RETIREMENT FUND
For The Last Ten Years
St. Anthony's
Proportionate
State's Share of the Plan
Proportionate Net Pension Fiduciary
St. Anthony's St. Anthony's Share (Amount) Liability Net Position
Proportionate Proportionate of the Net as a as a
Share Share (Amount) Pension Percentage Percentage
Measurement Fiscal Year (Percentage) of of the Net Liability of its covered of the Total
Date Ending the Net Pension Pension Associated with Covered Payroll Pension
June 30 December 31 Liability Liability (a) St. Anthony (b) Total (a+b) Payroll (c) ((a+b)/c) Liability
2015 2015 0.0343% $1,777,604 $ - $1,777,604 $2,012,851 88.3% 78.2%
2016 2016 0.0353%2,866,185 37,474 2,903,659 2,192,080 132.5% 68.9%
2017 2017 0.0338%2,157,770 27,098 2,184,868 2,174,769 100.5% 75.9%
2018 2018 0.0345%1,913,919 62,724 1,976,643 2,318,754 85.2% 79.5%
2019 2019 0.0334%1,846,611 57,331 1,903,942 2,363,174 80.6% 80.2%
2020 2020 0.0341%2,044,451 62,951 2,107,402 2,431,586 86.7% 79.1%
The schedule is provided prospectively beginning with the City's fiscal year ended December 31, 2015 and is intended to
show a ten year trend. Additional years will be reported as they become available.
See accompanying notes to the required supplementary information.
94
CITY OF ST. ANTHONY, MINNESOTA
REQUIRED SUPPLEMENTARY INFORMATION Statement 12
SCHEDULE OF PENSION CONTRIBUTIONS - GENERAL EMPLOYEES RETIREMENT FUND
For The Last Ten Years
Statutorily Contributions in Contribution Contributions as a
Fiscal Year Required Relation to the Deficiency Covered Percentage of
Ending Contribution Statutorily Required (Excess)Payroll Covered
December 31 (a)Contribution (b)(a-b)(c)Payroll (b/c)
2015 $161,326 $161,326 $ - $2,151,016 7.50%
2016 160,607 160,607 - 2,141,425 7.50%
2017 167,798 167,798 - 2,237,307 7.50%
2018 175,748 175,748 - 2,343,317 7.50%
2019 179,816 179,816 - 2,397,523 7.50%
2020 184,656 184,656 - 2,462,125 7.50%
The schedule is provided prospectively beginning with the City's fiscal year ended December 31, 2015 and is intended to
show a ten year trend. Additional years will be reported as they become available.
See accompanying notes to the required supplementary information.
95
CITY OF ST. ANTHONY, MINNESOTA
REQUIRED SUPPLEMENTARY INFORMATION Statement 13
SCHEDULE OF PROPORTIONATE SHARE OF NET PENSION LIABILITY -
PUBLIC EMPLOYEES POLICE AND FIRE FUND
For The Last Ten Years
Proportionate Share
Proportionate of the Net Pension Plan Fiduciary
Proportion Share (Amount) Liability as a Net Position as
Measurement Fiscal Year (Percentage) of of the Net Percentage of its a Percentage
Date Ending the Net Pension Pension Covered Covered of the Total
June 30 December 31 Liability Liability (a) Payroll (b) Payroll (a/b) Pension Liability
2015 2015 0.2770%$3,147,368 $2,535,887 124.1%86.6%
2016 2016 0.2920%11,718,468 2,816,408 416.1%63.9%
2017 2017 0.2650%3,577,815 2,722,821 131.4%85.4%
2018 2018 0.2426%2,585,866 2,553,675 101.3%88.8%
2019 2019 0.2442%2,599,756 2,576,175 100.9%89.2%
2020 2020 0.2369%3,122,595 2,672,439 116.8%87.2%
The schedule is provided prospectively beginning with the City's fiscal year ended December 31, 2015 and is intended to
show a ten year trend. Additional years will be reported as they become available.
See accompanying notes to the required supplementary information.
96
CITY OF ST. ANTHONY, MINNESOTA
REQUIRED SUPPLEMENTARY INFORMATION Statement 14
SCHEDULE OF PENSION CONTRIBUTIONS - PUBLIC EMPLOYEES POLICE AND FIRE FUND
For The Last Ten Years
Statutorily Contributions in Contribution Contributions as a
Fiscal Year Required Relation to the Deficiency Covered Percentage of
Ending Contribution Statutorily Required (Excess)Payroll Covered
December 31 (a)Contribution (b) (a-b)(c)Payroll (b/c)
2015 $435,571 $435,571 $ - $2,688,709 16.20%
2016 447,527 447,527 - 2,762,512 16.20%
2017 424,887 424,887 - 2,622,760 16.20%
2018 419,242 419,242 - 2,587,918 16.20%
2019 440,545 440,545 - 2,599,085 16.95%
2020 488,862 488,862 - 2,761,934 17.70%
The schedule is provided prospectively beginning with the City's fiscal year ended December 31, 2015 and is intended to
show a ten year trend. Additional years will be reported as they become available.
See accompanying notes to the required supplementary information.
97
CITY OF ST. ANTHONY, MINNESOTA
REQUIRED SUPPLEMENTARY INFORMATION Statement 15
SCHEDULE OF CHANGES IN THE NET PENSION LIABILITY AND RELATED RATIOS -
ST. ANTHONY FIRE DEPARTMENT RELIEF ASSOCIATION
For The Last Ten Years
Fiscal Year Ending and Measurement date December 31, 2020 December 31, 2019 December 31, 2018 December 31, 2017 December 31, 2016 December 31, 2015
Total pension liability:
Service cost $28,181 $40,799 $37,633 $37,542 $47,233 $44,095
Interest 46,153 42,195 40,951 44,308 31,829 30,759
Changes in benefit terms - 35,173 26,091 - - -
Differences between expected and actual experience (33,785)(71,654) - (35,041) - -
Changes of assumptions - 15,462 - 2,699 (36,075) -
Benefit payments - (27,928)(144,500)(7,260)(80,200)(25,472)
Net change in total pension liability 40,549 34,047 (39,825)42,248 (37,213)49,382
Total pension liability - beginning 741,032 706,985 746,810 704,562 741,775 692,393
Total pension liability - ending (a)$781,581 $741,032 $706,985 $746,810 $704,562 $741,775
Plan fiduciary net position:
Contributions - employer $6,000 $6,000 $6,000 $6,000 $6,000 $6,000
Contributions - State of Minnesota 58,407 54,716 53,083 51,206 51,174 48,725
Contributions - employee - - - - - -
Net investment income 150,122 98,394 (54,281)93,511 39,971 (23,129)
Benefit payments - (27,928)(144,500)(7,260)(80,200)(25,472)
Administrative expense (12,185)(11,640)(11,547)(11,829)(8,653)(10,561)
Net change in plan fiduciary net position 202,344 119,542 (151,245)131,628 8,292 (4,437)
Plan fiduciary net position - beginning 1,001,560 882,018 1,033,263 901,635 893,343 897,780
Plan fiduciary net position - ending (b)$1,203,904 $1,001,560 $882,018 $1,033,263 $901,635 $893,343
Net pension liability (asset) - ending (a) - (b)($422,323) ($260,528)($175,033)($286,453) ($197,073)($151,568)
Plan fiduciary net position as a percentage of the
total pension liability 154.0%135.2%124.8%138.4%128.0%120.4%
Covered-employee payroll*NA NA NA NA NA NA
Net pension liability as a percentage of covered
employee payroll*NA NA NA NA NA NA
Pension benefit per year of service $3,800 $3,800 $3,500 $3,300 $3,300 $3,300
Number of plan participants 33 30 33 35 32 32
*The Relief Association is comprised of volunteers, therefore there are no payroll expenditures.
GASB 68 was implemented in 2015. Information prior to 2015 is not available.
See accompanying notes to the required supplementary information.
98
CITY OF ST. ANTHONY, MINNESOTA
REQUIRED SUPPLEMENTARY INFORMATION Statement 16
SCHEDULE OF CONTRIBUTIONS - ST. ANTHONY FIRE DEPARTMENT RELIEF ASSOCIATION
For The Last Ten Years
Statutorily Contributions in Contribution Contributions as a
Fiscal Year Required Relation to the Deficiency Covered Percentage of
Ending Contribution Statutorily Required (Excess)Payroll*Covered
December 31 (a)Contribution (b)(a-b)(c)Payroll* (b/c)
2015 $22,977 $22,977 $ - $ - NA
2016 - 6,000 (6,000) - NA
2017 - 6,000 (6,000) - NA
2018 - 6,000 (6,000) - NA
2019 - 6,000 (6,000) - NA
2020 - 6,000 (6,000) - NA
*The Relief Association is comprised of volunteers, therefore, there are no payroll expenditures.
(i.e., there are no covered payroll amounts or percentage calculations.)
GASB 68 was implemented in 2015. Information prior to 2015 is not available.
See accompanying notes to the required supplementary information.
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100
CITY OF ST. ANTHONY, MINNESOTA
REQUIRED SUPPLEMENTARY INFORMATION
NOTES TO RSI
December 31, 2019
Note A LEGAL COMPLIANCE – 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.
Note B OPEB INFORMATION
No assets are accumulated in a trust that meets the criteria in paragraph 4 of GASB Statement No. 75 to pay
related benefits. There are no factors that affect trends in the amounts reported.
Note C PENSION INFORMATION
PERA – General Employees Retirement Fund
2020 Changes in Actuarial Assumptions:
The price inflation assumption was decreased from 2.50% to 2.25%.
The payroll growth assumption was decreased from 3.25% to 3.00%.
As recommended in the June 30, 2019 experience study, assumed salary increase rates were
decreased 0.25% and assumed rates of retirement were changed resulting in more unreduced
(normal) retirements and slightly fewer Rule of 90 and early retirements. Assumed rates of
termination and disability were also changed.
The base mortality tables were changed from RP-2014 tables to Pub-2010 tables, with
adjustments.
The mortality improvement scale was changed from Scale MP-2018 to Scale MP-2019.
The assumed spouse age difference was changed from two years older for females to one year
older.
The assumed number of married male new retirees electing the 100% Joint & Survivor option
changed from 35% to 45%. The assumed number of married female new retirees electing the
100% Joint & Survivor option changed from 15% to 30%. The corresponding number of married
new retirees electing the Life annuity option was adjusted accordingly.
2020 Changes in Plan Provisions:
Augmentation for current privatized members was reduced to 2.0% for the period July 1, 2020
through December 31, 2023 and 0.0% after. Augmentation was eliminated for privatizations
occurring after June 30, 2020.
2019 Changes in Actuarial Assumptions:
The mortality projection scale was changed from MP-2017 to MP-2018.
2019 Changes in the Plan Provisions:
The employer supplemental contribution was changed prospectively, decreasing from $31.0
million to $21.0 million per year. The State’s special funding contribution was changed
prospectively, requiring $16.0 million due per year through 2031.
2018 Changes in Actuarial Assumptions:
The mortality projection scale was changed from MP-2015 to MP-2017.
The assumed benefit increase was changed from 1.00% per year through 2044 and 2.50% per year
thereafter to 1.25% per year.
101
CITY OF ST. ANTHONY, MINNESOTA
REQUIRED SUPPLEMENTARY INFORMATION
NOTES TO RSI
December 31, 2019
2017 Changes in Actuarial Assumptions:
The Combined Service Annuity (CSA) loads were changed from 0.8% for active members and
60% for vested and non-vested deferred members. The revised CSA loads are now 0.0% for
active member liability, 15.0% for vested deferred member liability and 3.0% for non-vested
deferred member liability.
The assumed post-retirement benefit increase rate was changed from 1.0% per year for all years
to 1.0% per year through 2044 and 2.5% per year thereafter.
2016 Changes in Actuarial Assumptions:
The assumed post-retirement benefit increase rate was changed from 1.0% per year through 2035
and 2.5% per year thereafter to 1.0% per year for all future years.
The assumed investment return was changed from 7.9% to 7.5%. The single discount rate was
changed from 7.9% to 7.5%.
Other assumptions were changed pursuant to the experience study dated June 30, 2015. The
assumed future salary increases, payroll growth, and inflation were decreased by 0.25% to 3.25%
for payroll growth and 2.50% for inflation.
PERA – Public Employees Police and Fire Fund
2020 Changes in Actuarial Assumptions:
The mortality projection scale was changed from MP-2018 to MP-2019.
2019 Changes in Actuarial Assumptions:
The mortality projection scale was changed from MP-2017 to MP-2018.
2018 Changes in Actuarial Assumptions:
The mortality projection scale was changed from MP-2016 to MP-2017.
2017 Changes in Actuarial Assumptions:
The single discount rate was changed from 5.6% to 7.5%.
Assumed salary increases were changed as recommended in the June 30, 2016 experience study.
The net effect is proposed rates that average 0.34% lower than the previous rates.
Assumed rates of retirement were changed, resulting in fewer retirements.
The Combined Service Annuity (CSA) load was 30% for vested and non-vested deferred
members. The CSA has been changed to 33% for vested members and 2 percent for non-vested
members.
The base mortality table for healthy annuitants was changed from the RP-2000 fully generational
table to the RP-2014 fully generational table (with a base year of 2006), with male rates adjusted
by a factor of 0.96. The mortality improvement scale was changed from Scale AA to Scale MP-
2016. The base mortality table for disabled annuitants was changed from the RP-2000 disabled
mortality table to the mortality tables assumed for healthy retirees.
Assumed termination rates were decreased to 3% for the first three years of service. Rates beyond
the select period of three years were adjusted, resulting in more expected terminations overall.
Assumed percentage of married female members was decreased from 65% to 60%.
Assumed age difference was changed from separate assumptions for male members (wives
assumed to be three years younger) and female members (husbands assumed to be four years
older) to the assumption that males are two years older than females.
The assumed percentage of female members electing Joint and Survivor annuities was increased.
102
CITY OF ST. ANTHONY, MINNESOTA
REQUIRED SUPPLEMENTARY INFORMATION
NOTES TO RSI
December 31, 2019
The assumed post-retirement benefit increase rate was changed from 1.00% for all years to 1.00%
per year through 2064 and 2.50% thereafter.
2016 Changes in Actuarial Assumptions:
The assumed post-retirement benefit increase rate was changed from 1.0% per year through 2037
and 2.5% per year thereafter to 1.0% per year for all future years.
The assumed investment return was changed from 7.9% to 7.5%. The single discount rate
changed from 7.9% to 5.6%.
The assumed future salary increases, payroll growth, and inflation were decreased by 0.25% to
3.25% for payroll growth and 2.50% for inflation.
Statewide Volunteer Firefighter Retirement Plan*
2020 Changes in Actuarial Assumptions:
The assumed investment return and discount rate were changed from 5.25% to 6.00%.
2019 Changes in Actuarial Assumptions:
The assumed investment return and discount rate were changed from 5.75% to 5.25%.
2018 Changes in Actuarial Assumptions:
None
2017 Changes in Actuarial Assumptions:
The assumed investment return and discount rate were changed from 6.00% to 5.75%.
2016 Changes in Actuarial Assumptions:
The assumed investment return and discount rate were changed from 4.25% to 6.00%.
*The St. Anthony Fire Department joined the Statewide Volunteer Firefighter Retirement Plan during
December 2019. Changes in actuarial assumptions prior to 2020 occurred when the Fire Department’s
pension plan assets were held in a special pension trust fund of the St. Anthony Fire Department Relief
Association.
103
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104
COMBINING AND INDIVIDUAL NONMAJOR FUND FINANCIAL
STATEMENTS AND SCHEDULES
105
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106
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).
107
CITY OF ST. ANTHONY, MINNESOTA
COMBINING BALANCE SHEET Statement 17
NONMAJOR GOVERNMENTAL FUNDS
December 31, 2020
With Comparative Totals For December 31, 2019
Special Debt Capital
Revenue Service Project 2020 2019
Assets
Cash and investments $252,631 $1,059,923 $2,293,313 $3,605,867 $2,559,657
Due from other governmental units - - 2,194 2,194 2,636
Accounts receivable - net 19,122 - - 19,122 25,799
Property taxes receivable:
Delinquent 3,112 4,432 2,703 10,247 8,184
Due from county 1,516 4,576 2,979 9,071 4,866
Prepaid items 2,239 - - 2,239 1,247
Loans receivable 9,227 - - 9,227 21,493
Special assessments receivable - - 6,347 6,347 7,934
Total assets $287,847 $1,068,931 $2,307,536 $3,664,314 $2,631,816
Liabilities, Deferred Inflows of
Resources, and Fund Balance
Liabilities:
Accounts payable $6,061 $1,771 $45,715 $53,547 $31,050
Due to other governmental units - - 62,798 62,798 62,798
Salaries payable 1,552 - - 1,552 2,924
Contracts payable - - - - 5,772
Deposits payable 24,549 - - 24,549 -
Interfund paayble - - - - 128,593
Interfund loan payable - - 22,480 22,480 28,100
Total liabilities 32,162 1,771 130,993 164,926 259,237
Deferred inflows of resources:
Unavailable revenue 3,112 4,432 9,050 16,594 16,118
Fund balance (deficit):
Nonspendable 2,239 - - 2,239 1,247
Restricted 46,912 1,062,728 - 1,109,640 1,101,539
Committed 201,822 - - 201,822 102,948
Assigned 18,822 - 2,167,493 2,186,315 1,324,472
Unassigned (17,222) - - (17,222) (173,745)
Total fund balance (deficit)252,573 1,062,728 2,167,493 3,482,794 2,356,461
Total liabilities, deferred inflows of
resources, and fund balance $287,847 $1,068,931 $2,307,536 $3,664,314 $2,631,816
Total Nonmajor
Governmental Funds
108
CITY OF ST. ANTHONY, MINNESOTA
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND Statement 18
CHANGES IN FUND BALANCE
NONMAJOR GOVERNMENTAL FUNDS
For The Year Ended December 31, 2020
With Comparative Totals For December 31, 2019
Special Debt Capital
Revenue Service Project 2020 2019
Revenues:
General property taxes $185,517 $564,902 $368,922 $1,119,341 $1,055,067
Intergovernmental 13,067 - 1,429,931 1,442,998 20,482
Special assessments - - 2,013 2,013 6,177
Charges for services 132,302 - - 132,302 131,807
Fines and forfeits 11,965 - - 11,965 11,205
Investment income 1,999 11,043 34,204 47,246 67,017
Contributions and donations - - 650 650 1,050
Refunds and reimbursements 460 - 2,194 2,654 24,291
Miscellaneous - - - - 304
Total revenues 345,310 575,945 1,837,914 2,759,169 1,317,400
Expenditures:
Current:
General government 29,212 - 285 29,497 137,682
Public safety 6,342 - - 6,342 10,434
Public works - - 53,007 53,007 60,700
Parks and recreation 146,197 - 6,450 152,647 206,111
Housing and redevelopment 137,588 - - 137,588 161,012
Capital outlay - - 515,405 515,405 153,331
Debt service:
Principal - 1,025,000 - 1,025,000 565,000
Interest - 244,351 1,477 245,828 93,438
Paying agent fees - 4,333 - 4,333 1,532
Total expenditures 319,339 1,273,684 576,624 2,169,647 1,389,240
Revenues over (under) expenditures 25,971 (697,739) 1,261,290 589,522 (71,840)
Other financing sources:
Sale of capital assets - - - - 23,050
Transfers in 99,088 692,207 150,000 941,295 592,233
Transfers out - - (410,710) (410,710) (458,429)
Total other financing sources 99,088 692,207 (260,710) 530,585 156,854
Net change in fund balance 125,059 (5,532) 1,000,580 1,120,107 85,014
Fund balance - January 1 127,514 1,068,260 1,166,913 2,362,687 2,271,447
Fund balance - December 31 $252,573 $1,062,728 $2,167,493 $3,482,794 $2,356,461
Reconciliation of beginning fund balance to prior year ending fund balance:
Prior year ending fund balance reported above $2,356,461
Add prior year ending fund balance for funds reported as major in
prior year and nonmajor in current year:
HRA TIF Debt Service 6,226
Current year beginning fund balance $2,362,687
Total Nonmajor
Governmental Funds
109
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110
NONMAJOR GOVERNMENTAL FUNDS
111
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112
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 (601) is used to account for the operation and
maintenance of City Hall and Community Services.
Police Forfeiture Fund (230) is used to account for revenue and expenditures
related to the forfeiture of property.
Recycling Fund (225) is used to account for the City’s recycling program. It
incorporates the activities of both Hennepin and Ramsey Counties.
HRA Fund (301) was established to oversee the commercial and residential
redevelopment activities in the community.
Fire Education / Training Fund (240) was established to account for revenues
and expenditures related to training provided to police and fire personnel.
113
CITY OF ST. ANTHONY, MINNESOTA
SUBCOMBINING BALANCE SHEET
NONMAJOR SPECIAL REVENUE FUNDS
December 31, 2020
With Comparative Totals For December 31, 2019
Community Center
Fund Police Forfeiture Fund
Assets
Cash and investments $51,239 $78,880
Accounts receivable - net 18,858 -
Property taxes receivable:
Delinquent - -
Due from county - -
Prepaid items 1,207 -
Loans receivable - -
Total assets $71,304 $78,880
Liabilities, Deferred Inflows of
Resources, and Fund Balance
Liabilities:
Accounts payable $6,061 $ -
Deposits payable - 24,549
Salaries payable - -
Interfund payable - -
Total liabilities 6,061 24,549
Deferred inflows of resources:
Unavailable revenue - -
Fund balance (deficit):
Nonspendable 1,207 -
Restricted - 42,612
Committed 64,036 -
Assigned - 11,719
Unassigned - -
Total fund balance (deficit)65,243 54,331
Total liabilities, deferred inflows of
resources, and fund balance $71,304 $78,880
114
Statement 19
Recycling Fund HRA Fund
Fire Education /
Training Fund
2020 2019
$4,789 $109,895 $7,828 $252,631 $117,694
- 264 - 19,122 23,749
- 3,112 - 3,112 2,638
- 1,516 - 1,516 757
164 868 - 2,239 1,247
- 9,227 - 9,227 21,493
$4,953 $124,882 $7,828 $287,847 $167,578
$ - $ - $ - $6,061 $5,852
- - - 24,549 -
- 1,552 - 1,552 2,924
- - - - 28,650
0 1,552 0 32,162 37,426
- 3,112 - 3,112 2,638
164 868 - 2,239 1,247
- - 4,300 46,912 39,505
1,214 136,572 - 201,822 102,948
3,575 - 3,528 18,822 15,069
- (17,222) - (17,222)(31,255)
4,953 120,218 7,828 252,573 127,514
$4,953 $124,882 $7,828 $287,847 $167,578
Total Nonmajor Special Revenue Funds
115
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, 2020
With Comparative Totals For December 31, 2019
Community Center
Fund
Police Forfeiture
Fund
Revenues:
General property taxes $ - $ -
Intergovernmental - -
Charges for services:
Administrative fees - -
Rental receipts 127,300 -
Fines and forfeits - 11,965
Investment income - 1,009
Refunds and reimbursements - -
Total revenues 127,300 12,974
Expenditures:
Current:
General government - -
Public safety - 4,937
Parks and recreation 146,197 -
Housing and redevelopment - -
Total expenditures 146,197 4,937
Revenues over (under) expenditures (18,897)8,037
Other financing sources (uses):
Transfers in 96,588 -
Transfers out - -
Total other financing sources (uses)96,588 0
Net change in fund balance 77,691 8,037
Fund balance (deficit) - January 1 (12,448)46,294
Fund balance (deficit) - December 31 $65,243 $54,331
116
Statement 20
Recycling Fund HRA Fund
Fire Education /
Training Fund
2020 2019
$ - $185,517 $ - $185,517 $167,476
13,067 - - 13,067 16,931
3,218 - 1,784 5,002 4,507
- - - 127,300 127,300
- - - 11,965 11,205
119 746 125 1,999 2,810
- 460 - 460 857
16,404 186,723 1,909 345,310 331,086
29,212 - - 29,212 25,386
- - 1,405 6,342 3,331
- - - 146,197 181,159
- 137,588 - 137,588 161,012
29,212 137,588 1,405 319,339 370,888
(12,808) 49,135 504 25,971 (39,802)
2,500 - - 99,088 94,694
- - - - (94,694)
2,500 0 0 99,088 0
(10,308) 49,135 504 125,059 (39,802)
15,261 71,083 7,324 127,514 167,316
$4,953 $120,218 $7,828 $252,573 $127,514
Total Nonmajor Special Revenue Funds
117
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118
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.
Public Facilities Revenue Bonds (311) accounts for debt service for the public
works building and fire station.
Tax Abatement Fund (502) was established to account for debt service payments
associated with the improvements to City parks.
Equipment Certificates Fund (402) was established to account for the debt service
related to the 2018 purchase of a fire engine.
HSIP Tax Abatement Fund (536) was established to account for debt service for
sidewalks and signal light improvements.
HRA TIF Debt Service Fund (335/336) was established to account for debt
associated with Tax Increment Financing Districts of the City.
119
CITY OF ST. ANTHONY, MINNESOTA
SUBCOMBINING BALANCE SHEET Statement 21
NONMAJOR DEBT SERVICE FUNDS
December 31, 2020
With Comparative Totals For December 31, 2019
Public Facilities
Revenue Bonds
Tax Abatement
Fund
Equipment
Certificates
Fund
HSIP Tax
Abatement
HRA TIF Debt
Service
2020 2019
Assets
Cash and investments $565,904 $269,018 $59,280 $160,791 $4,930 $1,059,923 $1,059,540
Property taxes receivable:
Delinquent 2,709 923 - 800 - 4,432 3,582
Due from county 2,792 920 - 864 - 4,576 2,494
Total assets $571,405 $270,861 $59,280 $162,455 $4,930 $1,068,931 $1,065,616
Liabilities, Deferred Inflows of
Resources, and Fund Balance
Liabilities:
Accounts payable $191 $100 $55 $475 $950 $1,771 $ -
Deferred inflows of resources:
Unavailable revenue 2,709 923 - 800 - 4,432 3,582
Fund balance:
Restricted 568,505 269,838 59,225 161,180 3,980 1,062,728 1,062,034
Total liabilities, deferred inflows
of resources, and fund balance $571,405 $270,861 $59,280 $162,455 $4,930 $1,068,931 $1,065,616
Total Nonmajor Debt Service
Funds
120
CITY OF ST. ANTHONY, MINNESOTA
SUBCOMBINING STATEMENT OF REVENUES,Statement 22
EXPENDITURES AND CHANGES IN FUND BALANCE
NONMAJOR DEBT SERVICE FUNDS
For The Year Ended December 31, 2020
With Comparative Totals For December 31, 2019
Public Facilities
Revenue Bonds
Tax Abatement
Fund
Equipment
Certificates
Fund
HSIP Tax
Abatement
HRA TIF Debt
Service
2020 2019
Revenues:
General property taxes $344,625 $113,393 $ - $106,884 $ - $564,902 $556,585
Investment income 5,699 3,295 704 1,345 - 11,043 22,225
Total revenues 350,324 116,688 704 108,229 0 575,945 578,810
Expenditures:
Debt service:
Principal 345,000 95,000 55,000 85,000 445,000 1,025,000 565,000
Interest 35,690 17,925 13,448 11,850 165,438 244,351 91,665
Paying agent fees 458 509 173 948 2,245 4,333 1,532
Total expenditures 381,148 113,434 68,621 97,798 612,683 1,273,684 658,197
Revenues over (under) expenditures (30,824)3,254 (67,917) 10,431 (612,683) (697,739) (79,387)
Other financing sources (uses):
Transfers in - - 69,100 12,670 610,437 692,207 61,235
Total other financing sources (uses)0 0 69,100 12,670 610,437 692,207 61,235
Net change in fund balance (30,824)3,254 1,183 23,101 (2,246) (5,532) (18,152)
Fund balance - January 1 599,329 266,584 58,042 138,079 6,226 1,068,260 1,080,186
Fund balance - December 31 $568,505 $269,838 $59,225 $161,180 $3,980 $1,062,728 $1,062,034
Reconciliation of beginning fund balance to prior year ending fund balance:
Prior year ending fund balance reported above $1,062,034
Add prior year ending fund balance for funds reported as major in
prior year and nonmajor in current year:
HRA TIF Debt Service 6,226
Current year beginning fund balance $1,068,260
Total Nonmajor Debt Service
Funds
121
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122
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 (509) was established to provide funding for
smaller improvement projects.
Park Improvement Fund (501) accounts for the revenues and expenditures
associated with the renovations and refurbishing of the City’s park system.
Capital Equipment Fund (401) is used by all City Departments and accounts for
the annual purchases of capital equipment.
Building Improvement Fund (510) was established to provide funding for existing
City owned building improvements and renovations.
123
CITY OF ST. ANTHONY, MINNESOTA
SUBCOMBINING BALANCE SHEET Statement 23
NONMAJOR CAPITAL PROJECT FUNDS
December 31, 2020
With Comparative Totals For December 31, 2019
Revolving
Improvement
Park
Improvement
Capital
Equipment
Fund
Building
Improvement
Fund
2020 2019
Assets
Cash and investments $1,003,207 $65,913 $766,921 $457,272 $2,293,313 $1,382,423
Due from other governmental units 2,194 - - - 2,194 2,636
Accounts receivable - net - - - - - 2,050
Property taxes receivable:
Delinquent - - 2,079 624 2,703 1,964
Due from county - - 2,303 676 2,979 1,615
Special assessment receivable 6,347 - - - 6,347 7,934
Total assets $1,011,748 $65,913 $771,303 $458,572 $2,307,536 $1,398,622
Liabilities, Deferred Inflows of
Resources, and Fund Balance
Liabilities:
Accounts payable $14,977 $ - $30,738 $ - $45,715 $25,198
Due to other governmental units - - 62,798 - 62,798 62,798
Contracts payable - - - - - 5,772
Interfund payable - - - - - 99,943
Interfund loan payable 22,480 - - - 22,480 28,100
Total liabilities 37,457 0 93,536 0 130,993 221,811
Deferred inflows of resources:
Unavailable revenue 6,347 - 2,079 624 9,050 9,898
Fund balance (deficit):
Assigned 967,944 65,913 675,688 457,948 2,167,493 1,309,403
Unassigned - - - - - (142,490)
Total fund balance (deficit)967,944 65,913 675,688 457,948 2,167,493 1,166,913
Total liabilities, deferred inflows
of resources, and fund balance $1,011,748 $65,913 $771,303 $458,572 $2,307,536 $1,398,622
Total Nonmajor Capital Project
Funds
124
CITY OF ST. ANTHONY, MINNESOTA
SUBCOMBINING STATEMENT OF REVENUES,Statement 24
EXPENDITURES AND CHANGES IN FUND BALANCE
NONMAJOR CAPITAL PROJECT FUNDS
For The Year Ended December 31, 2020
With Comparative Totals For December 31, 2019
Revolving
Improvement
Park
Improvement
Capital
Equipment Fund
Building
Improvement
Fund
2020 2019
Revenues:
General property taxes $ - $ - $285,287 $83,635 $368,922 $331,006
Intergovernmental 1,429,931 - - - 1,429,931 3,551
Special assessments 2,013 - - - 2,013 6,177
Investment income 12,390 1,200 11,336 9,278 34,204 41,982
Contributions and donations - - 650 - 650 1,050
Refunds and reimbursements 2,194 - - - 2,194 23,434
Miscellaneous - - - - - 304
Total revenues 1,446,528 1,200 297,273 92,913 1,837,914 407,504
Expenditures:
Current:
General government - - 285 - 285 112,296
Public safety - - - - - 7,103
Public works 53,007 - - - 53,007 60,700
Parks and recereation - 6,450 - - 6,450 24,952
Capital outlay - - 370,320 145,085 515,405 153,331
Debt service:
Interest 1,477 - - - 1,477 1,773
Total expenditures 54,484 6,450 370,605 145,085 576,624 360,155
Revenues over (under) expenditures 1,392,044 (5,250) (73,332) (52,172) 1,261,290 47,349
Other financing sources (uses):
Sale of capital assets - - - - - 23,050
Transfers in 60,000 - 90,000 - 150,000 436,304
Transfers out (341,610) - (69,100) - (410,710) (363,735)
Total other financing sources (uses) (281,610)0 20,900 0 (260,710) 95,619
Net change in fund balance 1,110,434 (5,250) (52,432) (52,172) 1,000,580 142,968
Fund balance (deficit) - January 1 (142,490) 71,163 728,120 510,120 1,166,913 1,023,945
Fund balance (deficit) - December 31 $967,944 $65,913 $675,688 $457,948 $2,167,493 $1,166,913
Total Nonmajor Capital Project
Funds
125
CITY OF ST. ANTHONY, MINNESOTA
SPECIAL REVENUE FUND - 601 COMMUNITY CENTER FUND Statement 25
SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
For The Year Ended December 31, 2020
With Comparative Totals For December 31, 2019
2019
Original Final Actual Actual
Revenues:
Charges for services:
Rental receipts $127,300 $127,300 $127,300 $127,300
Investment income 425 425 - 432
Total revenues 127,725 127,725 127,300 127,732
Expenditures:
Parks and recreation:
Current:
Personal services 47,365 47,365 42,950 45,409
Supplies 1,802 1,802 5,769 6,027
Contractual services 99,418 99,418 97,478 129,723
Total expenditures 148,585 148,585 146,197 181,159
Revenues over (under) expenditures (20,860) (20,860) (18,897) (53,427)
Other financing sources (uses):
Transfer in 96,588 96,588 96,588 94,694
Transfer out - - - (94,694)
Total other financing sources (uses)96,588 96,588 96,588 0
Net change in fund balance $75,728 $75,728 77,691 (53,427)
Fund balance (deficit) - January 1 (12,448) 40,979
Fund balance (deficit) - December 31 $65,243 ($12,448)
2020
Budgeted Amounts
126
CITY OF ST. ANTHONY, MINNESOTA
SPECIAL REVENUE FUND - 230 POLICE FORFEITURE FUND Statement 26
SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
For The Year Ended December 31, 2020
With Comparative Totals For December 31, 2019
2019
Original Final Actual Actual
Revenues:
Forfeiture and confiscation $2,750 $2,750 $11,965 $11,205
Investment income 425 425 1,009 1,436
Total revenues 3,175 3,175 12,974 12,641
Expenditures:
Public safety:
Current:
Supplies 16,552 16,552 937 3,171
Other services and charges 4,000 4,000 4,000 -
Total expenditures 20,552 20,552 4,937 3,171
Revenues over (under) expenditures ($17,377) ($17,377) 8,037 9,470
Fund balance - January 1 46,294 36,824
Fund balance - December 31 $54,331 $46,294
2020
Budgeted Amounts
127
CITY OF ST. ANTHONY, MINNESOTA
SPECIAL REVENUE FUND - 225 RECYCLING FUND Statement 27
SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
For The Year Ended December 31, 2020
With Comparative Totals For December 31, 2019
2019
Original Final Actual Actual
Revenues:
Intergovernmental:
Recycling grants $16,232 $16,232 $13,067 $16,931
Charges for services 4,025 4,025 3,218 4,017
Investment income 50 50 119 571
Total revenues 20,307 20,307 16,404 21,519
Expenditures:
General government:
Current:
Personal services 11,449 11,449 11,435 11,005
Other services and charges 14,670 14,670 17,777 14,381
Total expenditures 26,119 26,119 29,212 25,386
Revenues over (under) expenditures ($5,812) ($5,812) (12,808) (3,867)
Other financing sources (uses):
Transfer in - - 2,500 -
Net change in fund balance ($5,812) ($5,812) (10,308)(3,867)
Fund balance - January 1 15,261 19,128
Fund balance - December 31 $4,953 $15,261
2020
Budgeted Amounts
128
CITY OF ST. ANTHONY, MINNESOTA
SPECIAL REVENUE FUND - 301 HRA FUND Statement 28
SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
For The Year Ended December 31, 2020
With Comparative Totals For December 31, 2019
2019
Original Final Actual Actual
Revenues:
General property taxes $185,065 $185,065 $185,517 $167,476
Refunds and reimbursements 500 500 460 857
Investment income 150 150 746 121
Total revenues 185,715 185,715 186,723 168,454
Expenditures:
Housing and redevelopment:
Current:
Personal services 128,346 128,346 108,195 123,149
Contractual services 56,720 56,720 29,393 37,863
Total expenditures 185,066 185,066 137,588 161,012
Revenues over expenditures $649 $649 49,135 7,442
Fund balance - January 1 71,083 63,641
Fund balance - December 31 $120,218 $71,083
2020
Budgeted Amounts
129
CITY OF ST. ANTHONY, MINNESOTA
SPECIAL REVENUE FUND - 240 FIRE EDUCATION / TRAINING FUND Statement 29
SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
For The Year Ended December 31, 2020
With Comparative Totals For December 31, 2019
2019
Original Final Actual Actual
Revenues:
Charges for services $2,500 $2,500 $1,784 $490
Investment income - - 125 250
Miscellaneous 25 25 - -
Total revenues 2,525 2,525 1,909 740
Expenditures:
Public safety:
Current:
Personal services 1,000 1,000 830 160
Materials and supplies 850 850 575 -
Total expenditures 1,850 1,850 1,405 160
Revenues over expenditures $675 $675 504 580
Fund balance - January 1 7,324 6,744
Fund balance - December 31 $7,828 $7,324
2020
Budgeted Amounts
130
SUPPLEMENTARY FINANCIAL INFORMATION
131
CITY OF ST. ANTHONY, MINNESOTA
BALANCE SHEET
STREET IMPROVEMENT DEBT SERVICE FUND
December 31, 2020
With Comparative Totals For December 31, 2019
Prior to 2008
Street
Improvement
Bonds Fund
2008 Street
Improvement
Bond Fund
2009 Street
Improvement
Bond Fund
2010 Street
Improvement
Bond Fund
2011 Street
Improvement
Bond Fund
2012 Street
Improvement
Bond Fund
2013 Street
Improvement
Bond Fund
Assets
Cash and investments $1,093,459 $171,563 $153,185 $76,340 $115,847 $339,357 $276,007
Property taxes receivable:
Delinquent 3,507 1,253 1,358 504 730 879 806
Due from county 3,446 1,335 1,548 347 598 1,264 955
Special assessments receivable 36,109 - 50,535 16,318 48,185 157,980 88,530
Total assets $1,136,521 $174,151 $206,626 $93,509 $165,360 $499,480 $366,298
Liabilities, Deferred Inflows of
Resources, and Fund Balance
Liabilities:
Accounts payable $206 $475 $165 $158 $198 $78 $475
Deposits payable - - - - - - -
Total liabilities 206 475 165 158 198 78 475
Deferred inflows of resources:
Unavailable revenue 39,615 1,253 48,735 16,822 48,914 158,859 89,336
Fund balance:
Restricted 1,096,700 172,423 157,726 76,529 116,248 340,543 276,487
Total liabilities, deferred inflows of
resources, and fund balance (deficit) $1,136,521 $174,151 $206,626 $93,509 $165,360 $499,480 $366,298
132
Exhibit 1
2014 Street
Improvement
Bond Fund
2015 Street
Improvement
Bond Fund
2016 Street
Improvement
Bond Fund
2017 Street
Improvement
Bond Fund
2018 Street
Improvement
Bond Fund
2019 Street
Improvement
Bond Fund
2020 Street
Improvement
Bond Fund
2020 2019
$191,280 $374,268 $287,310 $444,407 $557,727 $83,867 $52,816 $4,217,433 $4,097,831
1,036 1,220 705 1,336 1,233 486 - 15,053 11,909
1,302 1,353 684 1,413 1,695 827 - 16,767 9,699
115,152 188,633 50,000 240,042 263,565 - 190,108 1,445,157 1,548,879
$308,770 $565,474 $338,699 $687,198 $824,220 $85,180 $242,924 $5,694,410 $5,668,318
$475 $475 $475 $155 $475 $119 $475 $4,404 $ -
- 3,393 - - - - - 3,393 3,257
475 3,868 475 155 475 119 475 7,797 3,257
116,188 189,853 50,705 241,378 246,475 486 190,109 1,438,728 1,491,957
192,107 371,753 287,519 445,665 577,270 84,575 52,340 4,247,885 4,173,104
$308,770 $565,474 $338,699 $687,198 $824,220 $85,180 $242,924 $5,694,410 $5,668,318
Street Improvement Debt Service Fund
133
CITY OF ST. ANTHONY, MINNESOTA
SCHEDULE OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE
STREET IMPROVEMENT DEBT SERVICE FUND
For The Year Ended December 31, 2020
With Comparative Totals For December 31, 2019
Prior to 2008
Street
Improvement
Bonds Fund
2008 Street
Improvement
Bond Fund
2009 Street
Improvement
Bond Fund
2010 Street
Improvement
Bond Fund
2011 Street
Improvement
Bond Fund
2012 Street
Improvement
Bond Fund
Revenues:
General property taxes $424,474 $165,089 $182,026 $41,771 $72,857 $101,206
Intergovernmental - - - - - -
Special assessments 28,819 - 23,123 4,320 13,614 29,102
Investment income 13,300 1,056 361 853 1,079 4,336
Total revenues 466,593 166,145 205,510 46,944 87,550 134,644
Expenditures:
Public works:
Professional service 122 - 283 205 230 262
Debt service:
Principal 635,000 145,000 160,000 - - 145,000
Interest 28,322 17,175 28,950 23,416 31,912 31,663
Paying agent fees 1,516 1,123 284 308 348 78
Issuance costs - - - - - -
Total expenditures 664,960 163,298 189,517 23,929 32,490 177,003
Revenues over (under) expenditures (198,367) 2,847 15,993 23,015 55,060 (42,359)
Other financing sources (uses):
Bonds issued - - - - - -
Refunding bonds issued - - - - - -
Premium on bonds issued - - - - - -
Transfers in - - - - - -
Total other financing sources (uses)0 0 0 0 0 0
Net change in fund balance (198,367) 2,847 15,993 23,015 55,060 (42,359)
Fund balance - January 1 1,295,067 169,576 141,733 53,514 61,188 382,902
Fund balance - December 31 $1,096,700 $172,423 $157,726 $76,529 $116,248 $340,543
134
Exhibit 2
2013 Street
Improvement
Bond Fund
2014 Street
Improvement
Bond Fund
2015 Street
Improvement
Bond Fund
2016 Street
Improvement
Bond Fund
2017 Street
Improvement
Bond Fund
2018 Street
Improvement
Bond Fund
2019 Street
Improvement
Bond Fund
2020 Street
Improvement
Bond Fund
2020 2019
$118,680 $124,886 $167,667 $84,186 $174,715 $182,046 $103,988 $ - $1,943,591 $1,883,542
- - - - - - - - - 57,114
17,997 22,524 43,866 30,945 45,728 54,148 - - 314,186 455,394
3,173 1,730 4,000 3,757 5,210 6,758 369 596 46,578 89,861
139,850 149,140 215,533 118,888 225,653 242,952 104,357 596 2,304,355 2,485,911
223 255 425 670 268 1,202 466 476 5,087 10,090
115,000 130,000 160,000 90,000 150,000 145,000 - - 1,875,000 3,925,000
24,020 42,630 48,513 26,838 71,400 88,375 40,408 - 503,622 537,405
475 950 950 475 155 - - - 6,662 8,978
- - - - - - - - - 38,240
139,718 173,835 209,888 117,983 221,823 234,577 40,874 476 2,390,371 4,519,713
132 (24,695) 5,645 905 3,830 8,375 63,483 120 (86,016) (2,033,802)
- - - - - - - 52,220 52,220 20,908
- - - - - - - - - 1,335,000
- - - - - - - - - 136,865
- - - - - 108,577 - - 108,577 237,500
0 0 0 0 0 108,577 0 52,220 160,797 1,730,273
132 (24,695) 5,645 905 3,830 116,952 63,483 52,340 74,781 (303,529)
276,355 216,802 366,108 286,614 441,835 460,318 21,092 - 4,173,104 4,476,633
$276,487 $192,107 $371,753 $287,519 $445,665 $577,270 $84,575 $52,340 $4,247,885 $4,173,104
Street Improvement Debt Service
Fund
135
CITY OF ST. ANTHONY, MINNESOTA
BALANCE SHEET Exhibit 3
HRA TIF IMPROVEMENTS FUND
December 31, 2020
With Comparative Totals For December 31, 2019
Chandler Apache Apache
Place (Walmart) (Cub Foods)Eliminations
2020 2019
Assets
Cash and investments $169,323 $1,810,667 $405,796 $ - $2,385,786 $2,062,763
Accounts receivable - net - 25,027 - 25,027 8,050
Property taxes receivable:
Delinquent - 13,371 - - 13,371 12,706
Due from county - 3,895 - - 3,895 72,264
Prepaid expenses - 730 - - 730 204
Interfund loan receivable 646,850 - 722,566 (1,369,416) - -
Land held for resale - 370,356 - - 370,356 370,356
Total assets $816,173 $2,224,046 $1,128,362 ($1,369,416) $2,799,165 $2,526,343
Liabilities, Deferred Inflows of
Resources, and Fund Balance
Liabilities:
Accounts payable $ - $388,147 $ - $ - $388,147 $369,995
Contracts payable - - - - - 6,987
Interfund loans payable - 2,328,742 - (1,369,416) 959,326 959,326
Total liabilities 0 2,716,889 0 (1,369,416) 1,347,473 1,336,308
Deferred inflows of resources:
Unavailable revenue - 13,371 - - 13,371 12,706
Fund balance (deficit):
Nonspendable - 730 - - 730 204
Restricted 816,173 - 1,128,362 - 1,944,535 1,895,517
Unassigned - (506,944) - - (506,944) (718,392)
Total fund balance (deficit)816,173 (506,214) 1,128,362 0 1,438,321 1,177,329
Total liabilities, deferred inflows of
resources, and fund balance (deficit) $816,173 $2,224,046 $1,128,362 ($1,369,416) $2,799,165 $2,526,343
Tax Increment Financing Districts
Improvements Total
HRA TIF
136
CITY OF ST. ANTHONY, MINNESOTA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES Exhibit 4
IN FUND BALANCE
HRA TIF IMPROVEMENTS FUND
For The Year Ended December 31, 2020
With Comparative Totals For December 31, 2019
Chandler Apache Apache
Place (Walmart) (Cub Foods)
2020 2019
Revenues:
Tax increment collections $ - $2,076,472 $ - $2,076,472 $2,093,697
Investment income 28,395 19,482 35,418 83,295 106,400
Refunds and reimbursements - 16,977 - 16,977 69,327
Total revenues 28,395 2,112,931 35,418 2,176,744 2,269,424
Expenditures:
General government - 55,463 - 55,463 124,713
Housing and redevelopment 3,476 354,898 3,477 361,851 7,998
Debt service:
Interest - 93,150 - 93,150 93,150
Construction/acquisition costs - - 342 342 35,588
Developer incentives - 782,009 - 782,009 804,391
Total expenditures 3,476 1,285,520 3,819 1,292,815 1,065,840
Revenues over expenditures 24,919 827,411 31,599 883,929 1,203,584
Other financing sources (uses):
Transfers out (2,500) (615,437) (5,000) (622,937) (602,188)
Net change in fund balance 22,419 211,974 26,599 260,992 601,396
Fund balance (deficit) - January 1 793,754 (718,188) 1,101,763 1,177,329 575,933
Fund balance (deficit) - December 31 $816,173 ($506,214) $1,128,362 $1,438,321 $1,177,329
Tax Increment Financing Districts
Improvements Total
HRA TIF
137
CITY OF ST. ANTHONY, MINNESOTA
BALANCE SHEET Exhibit 5
STREET IMPROVEMENT PROJECT FUND
December 31, 2020
With Comparative Totals For December 31, 2019
2019 Street
Improvement
Project Fund
2020 Street
Improvement
Project Fund
2021 Street
Improvement
Project Fund
2020 2019
Assets
Cash and investments $782,907 $759,490 $ - $1,542,397 $178,983
Due from other governmental units - 45,625 - 45,625 671,458
Accounts receivable - net - - - - 775
Special assessments receivable - 65,631 - 65,631 -
Total assets $782,907 $870,746 $0 $1,653,653 $851,216
Liabilities and Fund Balance
Liabilities:
Accounts payable $ - $5,439 $31,364 $36,803 $45,542
Contracts payable 454,839 97,968 - 552,807 447,430
Interfund payable - - 159,578 159,578 -
Total liabilities 454,839 103,407 190,942 749,188 492,972
Deferred inflows of resources:
Unavailable revenue - 65,631 - 65,631 -
Fund balance (deficit):
Restricted 653,305 653,305 -
Assigned 328,068 48,403 (190,942) 185,529 379,891
Total fund balance (deficit)328,068 701,708 (190,942) 838,834 379,891
Total liabilities and fund balance $782,907 $870,746 $0 $1,653,653 $872,863
Total Street Improvement
Project Fund
138
CITY OF ST. ANTHONY, MINNESOTA
SCHEDULE OF REVENUES, EXPENDITURES AND Exhibit 6
CHANGES IN FUND BALANCE
STREET IMPROVEMENT PROJECT FUND
For The Year Ended December 31, 2020
With Comparative Totals For December 31, 2019
2016 Street
Improvement
Project Fund
2018 Street
Improvement
Project Fund
2019 Street
Improvement
Project Fund
2020 Street
Improvement
Project Fund
2021 Street
Improvement
Project Fund
2020 2019
Revenues:
Intergovernmental $ - $ - $ - $45,625 $ - $45,625 $521,601
Special assessments - - - 61,129 - 61,129 -
Investment income - - 10,455 463 - 10,918 15,986
Refunds and reimbursements - - - - - - 128,452
Miscellaneous - - - - - - 6,751
Total revenues 0 0 10,455 107,217 0 117,672 672,790
Expenditures:
Debt service:
Issuance costs - - - 72,756 - 72,756 33,142
Construction/acquisition costs - 4,458 96,739 2,210,893 172,795 2,484,885 1,934,438
Total expenditures 0 4,458 96,739 2,283,649 172,795 2,557,641 1,967,580
Revenues over (under) expenditures 0 (4,458) (86,284) (2,176,432) (172,795) (2,439,969) (1,294,790)
Other financing sources (uses):
Bonds issued - - - 2,947,780 - 2,947,780 1,124,092
Premium on bonds issued - - - 154,026 - 154,026 89,051
Transfers in - - - - - - 60,000
Transfers out (72,670) (108,577) - - - (181,247) -
Total other financing sources (uses) (72,670) (108,577) 0 3,101,806 0 2,920,559 1,273,143
Net change in fund balance (72,670) (113,035) (86,284) 925,374 (172,795) 480,590 (21,647)
Fund balance (deficit) - January 1 72,670 113,035 414,352 (223,666) (18,147) 358,244 379,891
Fund balance (deficit) - December 31 $0 $0 $328,068 $701,708 ($190,942) $838,834 $358,244
Total Street Improvement
Project Fund
139
CITY OF ST. ANTHONY, MINNESOTA
BALANCE SHEET Exhibit 7
HRA TIF DEBT SERVICE FUND
December 31, 2020
With Comparative Totals For December 31, 2019
2015B G.O Tax
Increment
Refunding Bonds
2014B G.O Tax
Increment
Refunding Bonds
2020 2019
Assets
Cash and investments $2,918 $2,012 $4,930 $6,226
Liabilities and Fund Balance
Liabilities:
Accounts payable $475 $475 $950 $ -
Fund balance:
Restricted 2,443 1,537 3,980 6,226
Total liabilities and fund balance $2,918 $2,012 $4,930 $6,226
HRA TIF Debt Service Fund Totals
140
CITY OF ST. ANTHONY, MINNESOTA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES Exhibit 8
IN FUND BALANCE
HRA TIF DEBT SERVICE FUND
For The Year Ended December 31, 2020
With Comparative Totals For December 31, 2019
2015B G.O Tax
Increment
Refunding Bonds
2014B G.O Tax
Increment
Refunding Bonds
2020 2019
Revenues $ - $ - $ - $ -
Expenditures:
Debt service:
Principal 245,000 200,000 445,000 420,000
Interest 82,713 82,725 165,438 173,987
Paying agent fees 1,123 1,122 2,245 1,312
Total expenditures 328,836 283,847 612,683 595,299
Revenues over (under) expenditures (328,836) (283,847)(612,683)(595,299)
Other financing sources (uses):
Transfers in 327,712 282,725 610,437 593,988
Net change in fund balance (1,124)(1,122)(2,246)(1,311)
Fund balance - January 1 3,567 2,659 6,226 7,537
Fund balance - December 31 $2,443 $1,537 $3,980 $6,226
HRA TIF Debt Service Fund Totals
141
CITY OF ST. ANTHONY, MINNESOTA
SCHEDULE OF REVENUES, EXPENSES AND CHANGES Exhibit 9
IN FUND NET POSITION
WATER/SEWER/WATER PLANT ENTERPRISE FUND
For The Year Ended December 31, 2020
With Comparative Totals For December 31, 2019
Water/Water Plant Sewer 2020 2019
Operating revenues:
Charges for services $1,130,292 $1,224,881 $2,355,173 $2,206,841
Connection charges - - - 3,450
Total operating revenues 1,130,292 1,224,881 2,355,173 2,210,291
Operating expenses:
Personal services 571,989 324,449 896,438 912,811
Supplies 190,081 10,524 200,605 250,368
Contracted services and other 100,798 39,483 140,281 137,828
Treatment charges (MCES) - 712,664 712,664 733,670
Utilities/insurance/other 174,862 31,990 206,852 196,127
Total operating expenses,
excluding depreciation 1,037,730 1,119,110 2,156,840 2,230,804
Depreciation 527,843 91,390 619,233 613,335
Total operating expenses 1,565,573 1,210,500 2,776,073 2,844,139
Operating income (loss)($435,281) $14,381 (420,900) (633,848)
Nonoperating revenues (expenses):
Investment income 27,781 56,952
Interest expense (8,540)(11,059)
Miscellaneous income 3,166 29,466
Total nonoperating revenues (expenses) 22,407 75,359
Income (loss) before capital
contributions and transfers (398,493) (558,489)
Capital contributions 7,006 756,666
Change in net position (391,487) 198,177
Net position - January 1 16,867,291 16,669,114
Net position - December 31 $16,475,804 $16,867,291
Operations
Totals
142
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 Tables
Financial Trends
These tables contain trend information to help the reader understand how
the City’s financial performance and well-being have changed over time.
Tables 1-4
Revenue Capacity
These tables contain information to help the reader assess the City’s most
significant local revenue source, the property tax.
Tables 5-8
Debt Capacity
These tables present information to help the reader assess the
affordability of the City’s current levels of outstanding debt and the
City’s ability to issue additional debt in the future.
Tables 9-12
Demographic and Economic Information
These tables offer demographic and economic indicators to help the
reader understand the enviornment within which the City’s financial
activities take place.
Tables 13-14
Operating Information
These tables contain service and infrastructure data to help the reader
understand how the information in the City’s financial report relates to
the services the City provides and the activities it performs.
Tables 15-17
Sources: Unless otherwise noted, the information in these tables is derived from the
comprehensive financial reports for the relevant year.
143
CITY OF ST. ANTHONY, MINNESOTA
NET POSITION BY COMPONENT
Last Ten Fiscal Years
(Accrual Basis of Accounting)
2011 2012 2013
Governmental activities:
Net invested in capital assets $15,334,754 $15,182,974 $16,217,013
Restricted for:
Debt service 4,263,706 4,741,115 3,347,895
Redevelopment activity - - -
Pensions - - -
Public safety 16,281 21,521 21,528
Unrestricted (6,358,682) (5,566,910) (5,239,277)
Total governmental
activities net position $13,256,059 $14,378,700 $14,347,159
Business-type activities:
Net invested in capital assets $4,767,233 $4,523,383 $5,605,845
Unrestricted 5,642,649 5,814,241 5,965,067
Total business-type
activities net position $10,409,882 $10,337,624 $11,570,912
Primary government:
Net invested in capital assets $20,101,987 $19,706,357 $21,822,858
Restricted for:
Debt service 4,263,706 4,741,115 3,347,895
Redevelopment activity - - -
Pensions - - -
Public safety 16,281 21,521 21,528
Unrestricted (716,033) 247,331 725,790
Total primary government
net position $23,665,941 $24,716,324 $25,918,071
Note: GASB 65 was implemented in 2013. Net position was restated for 2012 to reflect the expensing of bond issuance
costs in the year of issuance.
Net position for years prior to 2012 was not restated.
Note: GASB 68 was implemented in 2015. Net position was restated for 2014 to reflect the reporting of net pension liability
and pension related deferred outflows of resources. Net position for years prior to 2014 was not restated.
Note: The City closed the Stormwater Improvement Capital Project Fund during 2015 and transferred the majority
of the net position to the Stormwater Utility Fund.
144
Table 1
2014 2015 2016 2017 2018 2019 2020
$14,953,582 $10,604,121 $10,024,670 $10,274,946 $10,422,047 $9,746,635 $10,349,363
5,717,140 6,147,172 6,282,913 6,537,390 7,097,594 6,339,750 6,406,488
- 12,411 - - - - -
- - 197,073 219,561 200,075 177,502 247,024
23,471 19,283 25,634 23,865 31,141 39,505 46,912
(9,513,189) (10,391,885) 1,689,042 (5,330,379) (5,776,551) (4,223,098)(776,593)
$11,181,004 $6,391,102 $18,219,332 $11,725,383 $11,974,306 $12,080,294 $16,273,194
$6,036,192 $12,143,158 $14,011,168 $22,151,578 $23,179,624 $24,525,702 $23,721,266
5,570,360 5,649,685 3,171,781 3,529,653 3,483,257 3,569,879 4,072,013
$11,606,552 $17,792,843 $17,182,949 $25,681,231 $26,662,881 $28,095,581 $27,793,279
$20,989,774 $22,747,279 $24,035,838 $32,426,524 $33,601,671 $34,272,337 $34,070,629
5,717,140 6,147,172 6,282,913 6,537,390 7,097,594 6,339,750 6,406,488
- 12,411 - - - - -
- - 197,073 219,561 200,075 177,502 247,024
23,471 19,283 25,634 23,865 31,141 39,505 46,912
(3,942,829) (4,742,200) 4,860,823 (1,800,726) (2,293,294)(653,219) 3,295,420
$22,787,556 $24,183,945 $35,402,281 $37,406,614 $38,637,187 $40,175,875 $44,066,473
Fiscal Year
145
CITY OF ST. ANTHONY, MINNESOTA
CHANGES IN NET POSITION
Last Ten Fiscal Years
(Accrual Basis of Accounting)
2011 (1)2012 2013 (2)
Expenses
Governmental activities:
General government $1,052,821 $1,307,007 $1,029,147
Public safety 2,971,316 2,971,275 4,488,023
Public works 1,834,066 2,671,918 2,565,860
Parks and recreation 457,822 377,689 569,254
Services to other cities 1,039,009 1,039,504 -
Housing and redevelopment 671,934 649,104 565,303
Interest on long-term debt 1,302,681 1,197,073 1,217,646
Total governmental
activities expenses 9,329,649 10,213,570 10,435,233
Business-type activities:
Liquor 6,537,271 6,618,975 6,479,809
Water 874,099 901,732 859,112
Water Filtration and Purification 132,981 114,337 124,505
Sewer 944,097 1,041,085 1,019,421
Stormwater - - -
Total business-type
activities expenses 8,488,448 8,676,129 8,482,847
Total primary
government expenses $17,818,097 $18,889,699 $18,918,080
Program revenues
Governmental activities:
Charges for services:
Services to other cities $1,180,334 $1,192,138 $ -
Other activities 803,397 1,067,084 2,506,369
Operating grants and contributions 454,841 447,554 585,950
Capital grants and contributions 839,137 1,566,565 780,072
Total governmental
activities program revenues 3,277,709 4,273,341 3,872,391
Business-type activities:
Charges for services:
Liquor 6,995,923 7,139,381 6,908,143
Water 798,240 957,824 933,051
Water filtration and purification - - -
Sewer 779,513 877,794 947,632
Stormwater - - -
Operating grants and contributions - - -
Capital grants and contributions - - -
Total business-type
activities program revenues 8,573,676 8,974,999 8,788,826
Total primary government
program revenues $11,851,385 $13,248,340 $12,661,217
146
Table 2
Page 1 of 2
2014 2015 2016 2017 2018 2019 2020
$1,116,100 $1,342,360 $1,319,451 $1,337,698 $1,234,274 $1,587,360 $1,374,449
4,644,185 4,757,637 7,053,595 6,018,470 4,886,105 4,789,232 5,125,951
2,711,291 2,741,411 4,134,783 2,988,291 3,005,637 2,960,916 2,915,895
608,966 592,892 472,436 472,700 488,132 536,095 438,126
- - - - - - -
575,738 596,444 793,834 787,775 1,189,659 975,246 1,276,274
1,044,635 845,856 794,584 738,914 795,625 803,042 680,448
10,700,915 10,876,600 14,568,683 12,343,848 11,599,432 11,651,891 11,811,143
5,879,240 5,728,876 5,676,892 5,591,683 5,617,377 5,903,275 6,605,500
845,396 869,446 1,083,240 1,176,102 1,573,857 1,617,354 1,554,879
239,074 185,964 - - - - -
1,069,876 1,051,261 1,048,937 1,144,273 1,243,591 1,253,102 1,202,141
- - 191,655 244,135 249,911 308,786 367,578
8,033,586 7,835,547 8,000,724 8,156,193 8,684,736 9,082,517 9,730,098
$18,734,501 $18,712,147 $22,569,407 $20,500,041 $20,284,168 $20,734,408 $21,541,241
$ - $ - $ - $ - $ - $ - $ -
2,374,306 2,414,912 2,212,526 2,281,654 1,602,792 1,847,264 1,722,036
499,538 499,126 10,969,360 630,316 560,924 494,389 1,211,012
1,070,975 1,367,745 1,643,911 1,604,844 817,077 633,142 1,862,319
3,944,819 4,281,783 14,825,797 4,516,814 2,980,793 2,974,795 4,795,367
6,078,039 5,893,916 5,822,783 5,714,000 5,867,452 6,160,868 7,025,468
879,007 900,412 925,577 969,638 1,010,722 999,082 1,133,458
- 45,655 - - - - -
921,242 953,568 1,012,979 1,122,738 1,162,167 1,211,209 1,224,881
- - 192,748 197,242 201,729 206,700 211,360
- - 130,932 - - - -
- - 1,166,747 569,716 126,991 - -
7,878,288 7,793,551 9,251,766 8,573,334 8,369,061 8,577,859 9,595,167
$11,823,107 $12,075,334 $24,077,563 $13,090,148 $11,349,854 $11,552,654 $14,390,534
Fiscal Year
147
CITY OF ST. ANTHONY, MINNESOTA
CHANGES IN NET POSITION
Last Ten Fiscal Years
(Accrual Basis of Accounting)
2011 (1)2012 2013 (2)
Net (expense) revenue:
Governmental activities ($6,051,940) ($5,940,229) ($6,562,842)
Business-type activities 85,228 298,870 305,979
Total primary government
net (expense) revenue (5,966,712) (5,641,359) (6,256,863)
General revenues and other changes in net position:
Governmental activities:
Taxes:
Property taxes $4,872,840 $5,408,188 $5,703,707
Tax increment collections 1,746,766 1,335,674 1,405,872
Grants and contributions 24,673 10,639 26,384
Unrestricted investment earnings 6,803 55,206 25,914
Other 148,500 208,525 389,785
Gain on sale of capital assets - 46,195 -
Transfers 595,200 610,000 (809,238)
Total governmental activities 7,394,782 7,674,427 6,742,424
Business-type activities:
Unrestricted investment earnings 52,659 122,833 51,593
Other 3,976 17,569 66,478
Transfers (595,200) (610,000) 809,238
Total business-type activities (538,565) (469,598) 927,309
Total primary government $6,856,217 $7,204,829 $7,669,733
Change in net position:
Governmental activities $1,342,842 $1,734,198 $179,582
Business-type activities (453,337) (170,728) 1,233,288
Total primary government $889,505 $1,563,470 $1,412,870
(1) In 2011 the Water Filtration and Purification fund was reclassified to the Water and Sewer Proprietary Fund.
(2) In 2013, services to other cities were reclassified to public safety expense.
Note: GASB 65 was implemented in 2013. Governmental activity expenses were restated for 2012
to reflect the expensing of bond issuance costs in the year of issuance. Expenses for years prior to 2012 were not restated.
Note: GASB 68 was implemented for 2015. Expenses for years prior to 2015 were not restated.
Note: The City closed the Stormwater Improvement Capital Project Fund during 2015 and transferred the majority
of the net position to the Stormwater Utility Fund.
Note: The City closed the Water Filtration and Purification Fund during 2016 and transferred the majority of the net position
to governmental activities.
148
Table 2
Page 2 of 2
2014 2015 2016 2017 2018 2019 2020
($6,756,096) ($6,594,817) $257,114 ($7,827,034) ($8,618,639) ($8,677,096) ($7,015,776)
(155,298) (41,996) 1,251,042 417,141 (315,675) (504,658) (134,931)
(6,911,394) (6,636,813) 1,508,156 (7,409,893) (8,934,314) (9,181,754) (7,150,707)
$6,030,558 $5,893,900 $6,160,156 $6,577,570 $7,128,703 $7,477,523 $7,946,178
1,131,896 1,121,627 1,455,090 1,530,093 1,870,589 2,060,375 2,077,137
461,964 516,015 530,110 535,422 559,437 561,062 613,302
189,441 146,023 254,396 234,572 286,519 492,834 318,653
104,113 172,913 1,207,375 407,269 225,774 15,468 40,768
33,204 7,653 7,151 34,775 48,529 - -
(17,982) (6,053,216) 1,956,838 (7,986,616) (1,251,989) (1,824,178) 212,638
7,933,194 1,804,915 11,571,116 1,333,085 8,867,562 8,783,084 11,208,676
111,512 86,407 31,097 21,812 32,771 83,886 45,267
61,444 88,664 64,805 72,713 12,565 29,294 -
17,982 6,053,216 (1,956,838) 7,986,616 1,251,989 1,824,178 (212,638)
190,938 6,228,287 (1,860,936) 8,081,141 1,297,325 1,937,358 (167,371)
$8,124,132 $8,033,202 $9,710,180 $9,414,226 $10,164,887 $10,720,442 $11,041,305
$1,177,098 ($4,789,902) $11,828,230 ($6,493,949) $248,923 $105,988 $4,192,900
35,640 6,186,291 (609,894) 8,498,282 981,650 1,432,700 (302,302)
$1,212,738 $1,396,389 $11,218,336 $2,004,333 $1,230,573 $1,538,688 $3,890,598
Fiscal Year
149
CITY OF ST. ANTHONY, MINNESOTA
FUND BALANCES - GOVERNMENTAL FUNDS
Last Ten Fiscal Years
(Modified Accrual Basis of Accounting)
2011 2012 2013 2014
General Fund:
Nonspendable $55,271 $68,481 $74,049 $91,136
Unassigned 1,647,566 1,906,856 2,074,490 2,384,345
Total general fund $1,702,837 $1,975,337 $2,148,539 $2,475,481
All other governmental funds:
Nonspendable $132 $129 $49 $1,631
Restricted 6,868,120 8,594,337 2,002,737 7,627,714
Committed 210,953 222,184 33,015 78,180
Assigned 763,667 1,344,529 1,253,470 1,318,583
Unassigned (1,240,578) (1,473,482) (175,561) (2,407,745)
Total all other
governmental funds $6,602,294 $8,687,697 $3,113,710 $6,618,363
150
Table 3
2015 2016 2017 2018 2019 2020
$107,412 $115,482 $119,651 $126,304 $101,105 $159,782
2,338,600 2,204,185 2,280,463 2,381,460 2,489,685 3,238,208
$2,446,012 $2,319,667 $2,400,114 $2,507,764 $2,590,790 $3,397,990
$2,157 $57,188 $15,339 $97,687 $1,451 $2,969
6,491,789 6,907,253 7,002,918 7,466,883 7,176,386 7,955,365
94,107 105,503 125,069 124,355 102,948 201,822
578,258 13,148,229 6,568,756 5,374,785 5,502,668 6,513,862
(2,062,163) (1,693,729) (1,452,918) (1,409,874) (892,137) (524,166)
$5,104,148 $18,524,444 $12,259,164 $11,653,836 $11,891,316 $14,149,852
Fiscal Year
151
CITY OF ST. ANTHONY, MINNESOTA
CHANGES IN FUND BALANCES - GOVERNMENTAL FUNDS
Last Ten Fiscal Years
(Modified Accrual Basis of Accounting)
2011 (1) 2012 2013 (2) 2014
Revenues:
General property taxes $4,877,268 $5,416,328 $5,657,416 $6,053,119
Tax increment collections 1,708,873 1,364,881 1,398,000 1,117,824
Licenses, fees and permits 195,563 290,985 342,390 351,102
Intergovernmental 861,744 1,530,983 792,477 1,464,479
Special assessments 517,678 427,467 587,191 491,988
Charges for services 1,573,975 1,736,274 1,932,268 1,787,611
Cable franchise fees 96,608 101,403 104,089 109,009
Fines and forfeits 117,835 130,560 129,363 126,584
Investment income 6,792 55,201 24,197 189,216
Contributions and donations 610 2,778 16,134 45,640
Miscellaneous 148,500 194,052 375,719 104,113
Total revenues 10,105,446 11,250,912 11,359,244 11,840,685
Expenditures:
Current:
General government 883,478 1,059,361 836,190 926,501
Public safety 2,700,328 2,671,890 4,174,754 4,357,563
Public works 684,761 818,851 1,042,876 1,001,378
Parks and recreation 366,153 344,702 420,826 463,057
Services to other cities 1,039,009 1,039,504 - -
Nondepartmental 22,283 160,513 56,117 59,265
Housing and redevelopment 227,921 240,097 150,070 143,863
Capital outlay 277,224 346,644 284,392
Debt service:
Principal retirement 3,120,000 4,255,000 4,245,000 7,785,000
Interest 1,271,549 1,299,266 1,308,344 1,139,216
Paying agent fees 11,582 18,811 16,387 7,853
Professional service 30,109 3,480 6,682 17,104
Issuance costs 67,278 132,217 66,035 185,800
Construction/acquisition costs 1,953,923 2,253,448 1,618,986 2,959,264
Developer incentives 444,013 409,007 415,233 431,875
Total expenditures 13,099,611 15,052,791 14,641,892 19,902,361
Revenues over (under) expenditures (2,994,165)(3,801,879)(3,282,648)(8,061,676)
Other financing sources (uses):
Bonds issued 1,940,000 2,195,000 1,775,000 2,070,000
Refunding bonds issued 3,225,000 7,300,000 - 4,970,000
Redemption of refunded bonds (1,030,000) - - -
Payment to refunded bond escrow agent - (4,015,373) - -
Premium on debt issued 105,598 190,221 42,080 158,044
Sale of capital assets 9,982 10,962 25,244 13,390
Transfers in 1,603,430 1,626,372 2,021,913 1,908,166
Transfers out (1,008,230)(1,016,372)(1,482,913)(1,514,667)
Total other financing
sources(uses)4,845,780 6,290,810 2,381,324 7,604,933
Net change in fund balance $1,851,615 $2,488,931 ($901,324)($456,743)
Debt service as a percentage of
noncapital expenditures 40.4%44.6%43.6%54.2%
Debt service as percentage of total expenditures
33.5%36.9%37.9%44.8%
(1) In 2011 the Water Filtration and Purification fund was reclassified to the Water and Sewer Proprietary Fund.
(2) In 2013, services to other cities were reclassified to public safety expense.
152
Table 4
Fiscal Year
2015 2016 2017 2018 2019 2020
$5,897,070 $6,161,036 $6,633,308 $7,107,947 $7,484,962 $7,932,488
1,106,582 1,476,275 1,541,874 1,861,251 2,093,697 2,076,472
296,465 304,079 358,230 295,955 268,565 318,232
1,644,481 2,283,016 1,925,460 1,136,456 1,595,355 3,181,190
621,931 570,549 589,332 658,532 463,256 377,937
1,879,520 1,701,246 1,732,288 1,097,940 1,153,385 1,186,119
108,104 113,672 115,079 101,612 97,200 95,517
130,823 93,529 76,057 85,538 96,292 87,539
145,447 252,830 233,668 284,452 485,833 313,955
15,903 4,120 102,340 16,046 1,550 1,050
172,913 11,637,694 407,269 217,071 253,239 75,397
12,019,239 24,598,046 13,714,905 12,862,800 13,993,334 15,645,896
948,089 1,066,236 1,119,746 1,048,214 1,327,603 1,225,447
4,352,048 5,164,270 5,346,521 4,861,358 4,698,695 5,169,275
1,043,791 1,051,747 1,034,427 1,208,232 1,071,071 944,755
446,684 409,979 406,748 431,091 474,430 403,034
- - - - - -
40,139 38,421 45,095 61,262 78,233 28,475
119,294 156,312 132,437 160,255 169,010 499,439
386,652 398,844 431,511 1,037,417 165,581 533,874
3,750,000 2,620,000 5,815,000 2,895,000 4,910,000 2,900,000
1,020,262 820,607 846,526 887,798 897,980 842,600
10,386 14,793 5,760 29,308 11,822 10,995
16,971 16,339 6,677 2,823 - -
142,682 80,294 104,887 42,563 71,382 72,756
3,750,269 4,867,870 9,908,037 2,720,619 1,970,296 2,485,227
475,886 627,639 649,910 1,029,217 804,391 782,009
16,503,153 17,333,351 25,853,282 16,415,157 16,650,494 15,897,886
(4,483,914)7,264,695 (12,138,377)(3,552,357)(2,657,160)(251,990)
2,580,000 2,900,000 3,120,000 2,610,000 1,145,000 3,000,000
4,310,000 - 2,190,000 - 1,335,000 -
- - - - - -
(4,332,935) - - - - -
188,693 69,485 302,540 92,831 225,916 154,026
25,860 15,186 28,244 64,754 23,050 -
2,069,259 4,003,953 312,760 287,094 335,000 250,000
(1,900,647)(959,368) - - (86,300)(86,300)
2,940,230 6,029,256 5,953,544 3,054,679 2,977,666 3,317,726
($1,543,684)$13,293,951 ($6,184,833)($497,678)$320,506 $3,065,736
36.5%25.7%41.5%29.8%40.1%29.1%
28.9%19.8%25.8%23.0%34.9%23.5%
153
CITY OF ST. ANTHONY, MINNESOTA
TAX CAPACITY VALUE AND ESTIMATED MARKET VALUE OF TAXABLE PROPERTY Table 5
Last Ten Fiscal Years
Commercial/ Total Adjustments Adjusted Total Estimated Tax Capacity
Payable Residential Industrial All Tax to Tax Tax Capacity Direct Tax Market as a Percent
Year Property Property Other Capacity Capacity * Value Rate Value of EMV
2010 $7,194,714 $2,546,141 $64,834 $9,805,689 ($1,106,369) $8,699,320 55.66% $828,631,600 1.18%
2011 6,734,706 2,398,897 71,265 9,204,868 (909,287) 8,295,581 59.89% 778,761,500 1.18%
2012 6,225,942 2,273,812 73,491 8,573,245 (846,346) 7,726,899 68.85% 761,934,600 1.13%
2013 5,860,660 2,139,288 83,509 8,083,457 (802,123) 7,281,334 75.46% 721,227,600 1.12%
2014 5,863,304 2,146,080 78,927 8,088,311 (765,126) 7,323,185 77.16% 720,018,700 1.12%
2015 6,286,042 2,172,970 85,325 8,544,337 (607,841) 7,936,496 72.93% 760,404,500 1.12%
2016 7,352,669 2,105,556 94,478 9,552,703 (695,828) 8,856,875 67.64% 860,925,700 1.11%
2017 7,800,780 2,136,787 117,840 10,055,407 (751,642) 9,303,765 69.59% 906,848,000 1.11%
2018 8,225,455 2,301,748 121,376 10,648,579 (856,989) 9,791,590 70.02% 954,111,600 1.12%
2019 8,962,344 2,362,141 119,600 11,444,085 (1,027,837) 10,416,248 70.22% 1,023,687,200 1.12%
2020 9,800,198 2,337,325 118,670 12,256,193 (1,054,049) 11,202,144 68.02% 1,094,841,000 1.12%
Source: Official Statements for the City of St. Anthony. (Hennepin and Ramsey Counties Combined)
* Includes tax increment tax capacity and net fiscal disparities impact.
154
CITY OF ST. ANTHONY, MINNESOTA
DIRECT AND OVERLAPPING PROPERTY TAX RATES Table 6
Last Ten Fiscal Years
City
Fiscal Direct School Other Hennepin
Year Rate District Districts County Total
2011 59.89% 36.48% 11.14% 45.84% 153.34%
2012 68.85% 38.32% 12.04% 48.23% 167.44%
2013 75.46% 38.87% 12.70% 49.46% 176.49%
2014 77.16% 33.09% 13.22% 49.96% 173.43%
2015 72.93% 29.95% 12.23% 46.40% 161.51%
2016 67.64% 33.13% 11.63% 45.36% 157.76%
2017 69.59% 33.43% 11.69% 44.09% 158.80%
2018 70.02% 37.56% 11.07% 42.81% 161.45%
2019 70.22% 36.01% 10.63% 41.86% 158.73%
2020 68.02% 33.82% 9.87% 41.08% 152.79%
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.
Overlapping Rates*
155
CITY OF ST. ANTHONY, MINNESOTA
PRINCIPAL PROPERTY TAXPAYERS Table 7
Current Year and Nine Years Ago
Percentage Percentage
Tax of Total City Tax of Total City
Capacity Capacity Capacity Capacity
Taxpayer Value Rank Value Value Rank Value
Sterling Inv LLC - Silver Lake Village
$614,646 1 5.01% $758,128 1 8.24%
St. Anthony Leased Housing 551,010 2 4.50% 364,550 2 3.96%
Assoc. I
L/L Equinox Associates LLC 347,501 3 2.84% 186,200 4 2.02%
Autumn Woods Partners LP 277,413 4 2.26% 205,800 3 2.24%
St. Anthony Leased Housing 188,190 5 1.54%
Assoc. II
St. Anthony Shopping Center 141,210 6 1.15% 98,252 5 1.07%
Autumn Woods III LLC 135,675 7 1.11%
Xcel Energy 134,094 8 1.09% 67,496 10 0.73%
Landau - 3925 Pleasant LLC 118,045 9 0.96% 76,950 9 0.84%
Chandler Place LP 108,338 10 0.88% 82,329 8 0.89%
LG Anderson LLC/Apache Medical 89,250 6 0.97%
St. Anthony Nursing Home LP 82,449 7 0.90%
Total $2,616,122 21.34% $2,011,404 21.86%
Total All Property $12,256,193 $9,204,868
Source: Official Statements for the City of St. Anthony
20112020
156
CITY OF ST. ANTHONY, MINNESOTA
PROPERTY TAX LEVIES AND COLLECTIONS Table 8
Last Ten Fiscal Years
Fiscal Taxes Collections
Year Levied in
Ended For The Percentage Subsequent Percentage
December 31, Fiscal Year Amount of Levy Years Amount of Levy
2011 $4,761,665
(1)$4,710,258 98.92%$41,702 $4,751,960 99.80%
2012 5,223,089 5,157,341 98.74%39,080 5,196,421 99.49%
2013 5,426,789 5,345,759 98.51%26,941 5,372,700 99.00%
2014 5,633,007 5,564,141 98.78%(35,583) 5,528,558 98.15%
2015 5,831,737 5,733,450 98.31%(9,206) 5,724,244 98.16%
2016 6,050,812 5,974,249 98.73%23,753 5,998,002 99.13%
2017 6,450,785 6,400,683 99.22%4,964 6,405,647 99.30%
2018 6,850,011 6,801,704 99.29%278 6,801,981 99.30%
2019 7,311,453 7,226,085 98.83%13,032 7,239,117 99.01%
2020 7,609,458 7,611,336 100.02%
(1) Net of Market Value Homestead Credit which was subject to State unallotments or other reductions.
Sources: St. Anthony Finance Department
Not Available
Fiscal Year of the Levy
Collected Within The
Total Collections to Date
157
CITY OF ST. ANTHONY, MINNESOTA
RATIOS OF OUTSTANDING DEBT BY TYPE
Last Ten Fiscal Years
G.O. G.O. Tax Lease G.O. Other Total
Fiscal Improvement Reconstruction Increment Revenue Revenue G.O. Governmental
Year Bonds Bonds Bonds Bonds Bonds Bonds Activities
2011 $16,645,000 $1,710,000 $9,345,000 $4,110,000 $565,000 $1,850,000 $34,225,000
2012 18,935,000 1,605,000 8,960,000 3,995,000 430,000 1,665,000 35,590,000
2013 17,605,000 1,500,000 8,545,000 3,700,000 295,000 1,475,000 33,120,000
2014 16,910,000 2,695,000 7,920,000 3,415,000 150,000 1,285,000 32,375,000
2015 18,010,000 1,305,000 7,865,000 3,125,000 - 1,090,000 31,395,000
2016 19,280,000 1,170,000 7,450,000 2,825,000 - 950,000 31,675,000
2017 18,920,000 1,035,000 7,065,000 2,510,000 - 1,640,000 31,170,000
2018 19,685,000 895,000 6,660,000 2,185,000 - 1,460,000 30,885,000
2019 18,330,000 755,000 6,240,000 1,850,000 - 1,280,000 28,455,000
2020 18,400,000 610,000 5,795,000 1,505,000 - 2,245,000 28,555,000
Note: Details regarding the City's outstanding debt can be found in the notes to the financial statements.
Source: St. Anthony Finance Department
*See Table 13 for Population data.
Governmental Activities
158
Table 9
Sewer/
Water
Percentage Sewer/Total Bonds Total Percentage
of Adjusted Water Business-Type Per Primary of Personal Per
Tax Capacity Bonds Activities Customer Government Income Capita*
412.57% $1,640,000 $1,640,000 $713 $35,865,000 11.03%$4,107
460.60% 1,545,000 1,545,000 672 37,135,000 11.07%4,228
454.86% 1,440,000 1,440,000 626 34,560,000 10.14%3,889
442.09% 1,330,000 1,330,000 578 33,705,000 10.05%3,760
395.58% 1,215,000 1,215,000 528 32,610,000 9.41%3,532
357.63% 1,100,000 1,100,000 478 32,775,000 9.37%3,533
335.03%975,000 975,000 424 32,145,000 8.59%3,494
315.42%845,000 845,000 367 31,730,000 8.12%3,500
273.18%715,000 715,000 311 29,170,000 7.65%3,234
254.91%580,000 580,000 242 29,135,000 Not Available
Business-Type Activities
159
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160
CITY OF ST. ANTHONY, MINNESOTA
DIRECT AND OVERLAPPING GOVERNMENTAL ACTIVITIES DEBT Table 10
As of December 31, 2020
Estimated
Estimated Share of
Debt Percentage Overlapping
Governmental Unit Outstanding Applicable* Debt
Debt repaid with property taxes: (1)
School Districts:
ISD No. 282 $30,205,000 85.9816% $25,970,742
Counties: -
Hennepin 1,058,135,000 0.3811% 4,032,552
Ramsey 146,685,000 0.4748% 696,460
Other:
Metropolitan Council 240,785,000 0.2360% 568,253
Three Rivers Park District 53,385,000 0.5413% 288,973
Subtotal - overlapping debt 31,414,493
City direct debt (2)28,555,000
Total direct and overlapping debt $60,111,980
Sources: (1) Official Statements for City of St. Anthony
(2) 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.
161
CITY OF ST. ANTHONY, MINNESOTA
LEGAL DEBT MARGIN INFORMATION
Last Ten Fiscal Years
Market value
Debt limit (3% of market value)
Debt applicable to limit:
General obligation bonds
Less: Amount set aside for repayment
of general obligation debt
Total net debt applicable to limit
Legal debt margin
2011 2012 2013
Debt limit $22,184,277 $21,518,115 $20,237,210
Total net debt applicable to limit 4,708,301 4,902,237 4,450,131
Legal debt margin $17,475,976 $16,615,878 $15,787,079
Total net debt applicable to the limit as a
percentage of debt limit 21.22% 22.78% 21.99%
Source: Market Value - Hennepin County and Ramsey County, Minnesota Assessor's Offices
Legal Debt Margin Calculation for Fiscal Year 2020
162
Table 11
$1,094,841,000
32,845,230
2,530,000
(796,747)
1,733,253
$31,111,977
2014 2015 2016 2017 2018 2019 2020
$20,226,682 $21,500,127 $24,651,217 $26,027,076 27,507,354$ 30,710,616$ 32,845,230$
4,031,063 3,615,981 3,176,798 3,244,392 2,804,561 3,640,000 1,733,253
$16,195,619 $17,884,147 $21,474,419 $22,782,684 24,702,793$ 27,070,616$ $31,111,977
19.93% 16.82% 12.89% 12.47% 10.20% 11.85% 18.56%
Legal Debt Margin Calculation for Fiscal Year 2020
163
CITY OF ST. ANTHONY, MINNESOTA
PLEDGED REVENUE COVERAGE
Last Ten Fiscal Years
Stormwater Less Net
Fiscal Service Operating Available
Year Charges Expenses Revenue Principal Interest Coverage
2011 $150,833 $0 $150,833 $130,000 $18,900 101%
2012 150,734 - 150,734 135,000 14,925 101%
2013 152,750 - 152,750 135,000 10,875 105%
2014 146,423 - 146,423 145,000 6,675 97%
2015 9,619 - 9,619 150,000 2,250 6%
2016 - - - - - -
2017 - - - - - -
2018 - - - - - -
2019 - - - - - -
2020 - - - - - -
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.
Storm Sewer Revenue Bonds
Debt Service
164
Table 12
Page 1 of 2
Utility Less Net
Service Operating Available
Charges Expenses Revenue Principal Interest Coverage
$1,577,823 $1,492,891 $84,932 $90,000 $68,064 54%
1,836,635 1,621,559 215,076 95,000 66,123 133%
1,883,034 1,577,518 305,516 1,545,000 48,458 19%
1,800,249 1,603,359 196,890 110,000 26,783 144%
1,853,980 1,584,133 269,847 115,000 25,450 192%
1,938,556 1,718,418 220,138 115,000 23,150 159%
2,092,376 1,925,773 166,603 125,000 19,708 115%
2,172,889 2,219,507 (46,618) 130,000 18,200 (31%)
2,210,291 2,230,804 (20,513) 130,000 15,600 (14%)
2,355,173 2,156,840 198,333 135,000 12,950 134%
Water and Sewer Revenue Bonds
Debt Service
165
CITY OF ST. ANTHONY, MINNESOTA
PLEDGED REVENUE COVERAGE
Last Ten Fiscal Years
Less Net
Fiscal Net Sales Operating Available
Year (Gross Profit) Expenses Revenue Principal Interest Coverage
2011 $1,654,205 $1,077,832 $576,373 $95,000 $5,463 574%
2012 1,736,060 1,127,368 608,692 - - N/A
2013 1,626,398 1,198,064 428,334 - - N/A
2014 1,373,473 1,098,109 275,364 - - N/A
2015 1,321,028 1,071,756 249,272 - - N/A
2016 1,354,717 1,082,308 272,409 - - N/A
2017 1,359,067 1,141,171 217,896 - - N/A
2018 1,522,688 1,196,467 326,221 - - N/A
2019 1,546,023 1,201,192 344,831 - - N/A
2020 1,763,970 1,309,372 454,598 - - N/A
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.
Liquor Revenue Bonds
Debt Service
166
Table 12
Page 2 of 2
Special Tax
Assessment Increment
Collections Principal Interest Coverage Collections Principal Interest Coverage
$517,678 $2,405,000 $532,400 18% $1,708,873 $365,000 $496,588 198%
427,467 3,735,000 555,220 10% 1,364,881 385,000 479,132 158%
587,191 3,695,000 717,234 13% 1,398,000 415,000 459,830 160%
491,988 3,350,000 590,257 12% 1,117,824 4,290,000 445,969 24%
621,931 3,355,000 585,636 16% 1,106,582 4,365,000 336,268 24%
570,549 2,070,000 540,465 22% 1,476,275 415,000 156,058 259%
589,332 5,430,000 557,511 10% 1,541,874 385,000 190,038 268%
658,532 2,490,000 607,109 21% 1,861,251 405,000 182,238 317%
463,256 2,620,000 629,069 14% 2,093,697 420,000 173,988 352%
377,937 2,455,000 582,534 12% 2,076,472 445,000 165,438 340%
Debt Service
Tax Increment BondsImprovement Bonds
Debt Service
167
CITY OF ST. ANTHONY, MINNESOTA
DEMOGRAPHIC AND ECONOMIC STATISTICS Table 13
Last Ten Fiscal Years
Per
Capita
Fiscal Personal Personal Unemployment
Year Population (1)Income (2)Income(1)Rate(3)
2011 8,333 $310,183,426 $37,224 6.10%
2012 8,417 321,483,107 38,195 5.20%
2013 8,516 326,729,114 38,367 4.60%
2014 8,965 322,264,855 35,947 3.70%
2015 9,234 333,684,413 36,136 3.30%
2016 9,277 338,053,880 36,440 3.40%
2017 9,200 362,710,000 39,425 3.10%
2018 9,067 380,152,109 41,927 2.50%
2019 9,020 372,002,840 41,242 2.60%
2020 Not Available 4.40%
Sources:
(1) Metropolitan Council Estimates for St. Anthony
(2) Personal Income calculated from Per Capita Personal Income and Population.
(3) Minnesota Department of Employment and Economic Development -
Annual Average Unemployment Rate for Hennepin County
168
CITY OF ST. ANTHONY, MINNESOTA
PRINCIPAL EMPLOYERS Table 14
Current Year and Nine Years Ago
Employer Employees Rank Employees Rank
ISD No. 282 (St. Anthony - New Brighton) 308 1 225 4
Cub Foods 250 2 250 2
St. Anthony Health Center/Chandler Place 199 3 293 1
B&F Fastener Supply 100 4
City of St. Anthony 100 5 132 5
St. Charles Borromeo Parish 100 6
Happy's Potato Chip Company 55 7 50 8
Marshall Manufactruing 40 8 40 9
Village Pub 35 9
North Memorial - Silver Lake Clinic 35 10
Wal-Mart - - 249 3
Triangle Industries 80 6
Industrial Custom Products 50 7
Culver's 37 10
Total 1,222 1,406
Source: Official Statements for the City of St. Anthony
20112020
169
CITY OF ST. ANTHONY, MINNESOTA
FULL-TIME EQUIVALENT CITY GOVERNMENT EMPLOYEES BY FUNCTION/PROGRAM
Last Ten Fiscal Years
Full-Time Equivalent Employees as of December 31,
Function/Program 2011 2012 2013 2014
General government:
Administration 3.00 2.00 2.00 2.00
Finance 4.50 4.25 4.25 4.25
Police:
Officers 23.00 23.00 23.00 23.00
Support staff 2.50 2.50 2.50 2.50
Community service officer 1.00 1.00 1.00 1.00
Volunteers (non-paid) 12.00 12.00 12.00 12.00
Fire:
Firefighters 7.00 7.00 7.00 7.00
Volunteers (paid on call) 3.00 3.00 3.00 3.00
Public works:
Administration 2.00 2.00 2.00 2.00
Street 5.00 6.00 6.00 6.00
Park 3.00 3.00 3.00 3.00
Water/Sewer 2.00 2.00 2.00 2.00
Mechanic 1.00 1.00 1.00 1.00
Seasonal 2.00 2.00 2.00 2.00
Liquor operations:
Off-sale:
Full-time 5.00 5.00 5.00 5.00
Market Place - part-time 6.00 6.00 6.00 6.00
Silver Lake Village - part-time 6.00 6.00 6.00 6.00
Total 88.00 87.75 87.75 87.75
Source: City of St. Anthony
170
Table 15
2015 2016 2017 2018 2019 2020
2.00 2.50 2.50 2.60 2.85 1.85
4.50 4.00 4.00 4.00 4.00 4.00
23.00 23.00 20.00 20.00 20.00 20.00
2.50 2.50 2.50 2.00 2.00 2.00
1.00 1.00 1.00 1.00 1.00 1.00
12.00 12.00 12.00 12.00 12.00 12.00
7.00 7.00 7.00 7.00 7.00 7.00
3.00 3.00 3.00 3.00 3.00 3.00
2.00 2.00 2.00 2.00 2.00 1.00
6.00 6.00 6.00 6.00 6.00 6.00
3.00 3.00 3.00 3.00 3.00 3.00
2.00 2.00 2.00 2.00 2.00 2.00
1.00 1.00 1.00 1.00 1.00 1.00
2.00 2.00 2.00 2.00 2.00 2.00
5.00 5.00 6.00 6.00 6.00 6.00
4.50 4.50 4.50 4.65 4.65 4.65
4.50 4.00 4.00 4.25 4.25 4.25
85.00 84.50 82.50 82.50 82.75 80.75
Full-Time Equivalent Employees as of December 31,
171
CITY OF ST. ANTHONY, MINNESOTA
OPERATING INDICATORS BY FUNCTION/PROGRAM
Last Ten Fiscal Years
Function/Program 2011 2012 2013 2014
Police: *
Moving violation 1,848 1,851 2,068 2,017
Non-moving violations 210 200 396 321
DWI 44 39 34 39
Traffic arrests 673 578 679 633
Gross and misdemeanor arrests 145 164 244 130
Felony arrests 46 37 67 53
Warrant arrests 28 20 23 25
Fire:
Emergency responses 1,221 1,267 1,409 1,363
Medical responses 894 933 1,016 1,012
Fires 35 40 26 26
Inspections 121 116 88 256
Building inspection:
Permits issued 336 272 303 288
Other public works:
Street reconstruction/resurfacing (miles) 2 1 1 1
Potholes filled (tons) 100 84 39 34
Water:
New connections 1 39 122 28
Water mains breaks 10 10 7 8
Average daily consumption (thousands of gallons) 821 884 822 763
Peak daily consumption (thousands of gallons) 1,586 1,879 1,724 1,635
* Police statistics are for St Anthony only
Source: City of St. Anthony
172
Table 16
2015 2016 2017 2018 2019 2020
2,213 1,488 846 1,376 1,944 2,233
197 192 65 394 376 177
23 15 21 39 43 31
661 469 249 292 371 412
77 50 63 86 108 126
44 51 20 59 36 25
24 13 20 22 41 43
1,425 1,534 1,621 1,521 1,538 1,553
1,062 1,113 1,166 1,116 1,140 1,155
26 14 17 16 17 12
238 173 216 210 247 68
533 342 292 261 255 310
2 1 1 0.5 1.2 0.3
66 23 198 64 53 65
7 1 29 30 3 28
82 786 3
770 715 731 759 702 740
1,571 1,153 1,453 1,764 1,642 1,490
Fiscal Year
173
CITY OF ST. ANTHONY, MINNESOTA
CAPITAL ASSET STATISTICS BY FUNCTION/PROGRAM
Last Ten Fiscal Years
Function/Program 2011 2012 2013 2014
Police:
Stations 1 1 1 1
Fleet units 13 14 14 14
Fire stations: 1 1 1 1
Fleet units 8 8 8 8
Other public works:
City streets (miles) 24.7 24.7 24.7 24.7
Sidewalks (miles) 11.1 11.1 11.1 11.1
Parks and recreation:
Acreage 40 40 40 40
Playgrounds 4 4 4 4
Baseball/softball diamonds 7 7 7 7
Soccer/football fields 2 2 2 2
Community centers 1 1 1 1
Skate park 1 1 1 1
Splash pads 2 2 2 2
Tennis courts 2 2 2 2
Seasonal ice rinks 3 3 3 3
Liquor operations:
On/off sale locations 2 2 2 2
Water:
Water mains (miles) 24.7 24.7 24.7 24.7
Fire hydrants 287 287 287 287
Storage capacity (thousands of gallons) 2,250 2,250 2,250 2,250
Wells 3 3 3 3
Wastewater:
Sanitary sewers (miles) 24.7 24.7 24.7 24.7
Lift stations 2 2 2 2
Stormwater:
Stormwater reuse 1 1 1 1
Stormwater treatment systems 0 0 1 1
Stormwater retention ponds 5 5 5 6
Storm sewers (miles) 15.0 15.0 15.0 15.0
Source: City of St. Anthony
174
Table 17
2015 2016 2017 2018 2019 2020
111111
14 14 13 13 13 13
111111
888888
24.7 24.7 24.7 24.7 24.7 24.7
11.1 11.6 12.3 12.3 12.6 12.6
40 40 40 40 40 40
444444
777777
222222
111111
111111
222222
222222
333333
222222
24.7 24.7 24.7 24.7 24.7 24.7
287 288 288 288 288 288
2,250 2,250 2,250 2,250 2,250 2,250
333333
24.7 24.7 24.7 24.7 24.7 24.7
222222
111111
222222
666666
15.0 15.0 15.0 15.0 15.0 15.0
Fiscal Year
175
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176