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Home My WebLink About1980 CAFR I I ,I il I I I I I I I I I I I I I I I CITY OF ANDOVER, MINNESOTA FINANCIAL STATEMENTS DECEMBER 31, 1980 c c c c c c C ID ID I m C C C C C C C ~ Ci I I I I I I I 11 , ~I II l I 1 I I I I I I I I Elected Mayor Gerald Windschitl Council Donald Jacobson Robert Peach Theodore M. Lachinski Kenneth Orttel Appointed Clerk-Treasurer Patricia K. Lindquist CITY OF ANDOVER, MINNESOTA ELECTED AND APPOINTED OFFICIALS . term of office expires first business day of January 1983 1983 1983 1985 1985 m c c c c c c c c m ml i 01 c c c c C! I c ~ I I I I I I II I JI i II j I jl 11 I I I I I I CITY OF ANDOVER, MINNESGrA TABLE OF CONTENTS SECTION I INTRODUCTORY SECTION Page Comments I SECTION II FINANCIAL SECTION Accountants' report 1 II-A. Combined Financial Statements (General Purpose Financial Statements) Combined balance sheet - all fund types and account groups 2 Combined statement of revenue, expenditures and changes in fund balances - all governmental fund types 4 Notes to financial statements 6 II-B. Combining and Individual Fund Statements and Account Groups General Fund Comparative balance sheet 15 Statement of revenue, expenditures and changes in fund b~lance 16 Statement of revenue, compared to budget 17 Statement of expenditures, compared to budget 18 Special revenue funds Combining balance sheet 22 Combining statement of revenue, expenditures and changes in fund balances 23 General Debt Service Fund Combining balance sheet 24 Combining statement of revenue, expenditures and changes in fund balances 25 Capital projects funds Combining balance sheet Combining statement of revenue, expenditures and changes in fund balances 26 28 Special assessment funds Combining balance sheet Combining statement of revenue, expenditures and changes in fund balances 30 34 CITY OF ANDOVER, MINNESOTA m m TABLE OF CONTENTS (CONTINUED) c II-B. Combining and Individual Fund Statements and Account Groups (Continued) Page c Statement of general fixed assets 39 c Statement of general long-term debt 40 SECTION HI c STATISTICAL SECTION Schedule of cash, investments and security for deposits Combined schedule of indebtedness Schedule of bonds payable Debt service requirements Tax levies and collections Special assessment levies and collections Assessed valuations, tax levies and mill rates I 'I il 11 I I I I I I I I I I I I I ,I I SECTION I INTRODUCTORY SECTION c c c c ~ i.J c C I C ~ m c C' Or C C D1 ~ ~ I m; ! I I I I I I I I I I I I I I I I I I I CITY OF ANDOVER, MINNESOTA COMMENTS The City of Andover, Minnesota operates under 1I0ptional Plan All as defined in the State of Minnesota Statutes. Under this plan, the council is elected by popular vote and consists of the mayor and four councilmembers. Administrative personnel, including the clerk-treasurer are appointed by the council. General Fund The General Fund is used to account for all revenue and the activities financed by them which are not accounted for in a special fund. The principal sources of revenue are property taxes and intergovernmental revenue. Expenditures are for general government, public safety, public works, recreation and other functions. The fund balance decreased $36,197 during the year to $76,235. $49,794 of this balance has been reserved for various city purposes leaving an unreserved fund balance of $26,441 as of December 31, 1980. A condensed summary of revenue and expenditures for the years ended December 31, 1980 and 1979 is shown below. 1980 Budget Actual Revenue and other sources Taxes Licenses and permits Intergovernmental revenue Charges for services Fines and forfeits Other revenue Transfers from other funds $228,699 49,555 226,672 5,950 7,500 37,940 38,624 $594,940 Expenditures and other uses General government Public safety Public works Sanitation Recreation Other unallocated Transfers to other funds $187,276 187,093 117,238 13,250 53,906 12,974 23,203 $594,940 Net increase (decrease) in fund balance $ Special Revenue Funds $182,391 31,808 243,327 10,293 8,808 89,390 42,203 $608,220 $236,152 176,901 125,791 5,173 53,111 22,789 24,500 $644,417 1979 Budget Actual $148,338 61,841 169,762 8,225 9,000 75,625 39,933 $512,724 $204,855 181,502 99,432 13,081 .54,069 9,300 $562,239 $145,745 53,207 167,282 7,619 7,386 83,632 36,482 $501,353 $186,655 176,374 108,786 6,993 64,251 18,093 $561,152 -0- $(36.197) $(49.515) $(59.799) Special revenue funds are established to account for taxes and other revenues set aside for a particular purpose. Following is a brief description of each. Revenue Sharing Fund - This fund was established to account for revenue received from the Federal Government in accordance with the IIState and Local Fiscal Assistance Act of 1972.11 Expenditures can only be made from this fund as outlined in the Act. The City's share of revenue for 1980 was $38,039. During 1980, $40,310 was transferred to the General Fund. There was no fund balance as of December 31, 1980. I Special Revenue Funds (Continued) ~ Anti-recession Fund - The Anti-recession Fund was established to account for anti-recession aid received from the Federal Government. The fund was closed to the General Fund during the year. ~ Sewer Fund - The Sewer Fund accounts for the user charges and related expenses of providing sewer service. During 1980 the fund balance increased $3,680 to $21,532 at December 31, 1980. c General Debt Service Funds c General debt service funds are used to account for the accumulation of resources for payment of general obligation bonds or other general indebtedness and interest thereon. General property taxes and transfers from the General Fund provide the primary financing for debt retirement. The long-term liability (outstanding bond principal) from the issuance of general obligation bonds and other forms of long- term debt is set up as a liability in the General Long-term Debt Account Group. c c The funds included with the general debt service funds are: 1978 General Obligation Bonds Fund 1979 Certificate of Indebtedness Fund 1980 Equipment Certificate Fund c ~ Capital Proiects Funds Capital projects funds are established to account for proceeds from the sale of bonds and other revenue to be used for the acquisition of capital improvements by the City. Following is a brief description of each. I I 11979 Equipment Fund - This fund was established to Isa1e of $85,000 of certificates of indebtedness to IThe fund balance was $6,336 at December 31, 1980. ! ! IBuilding and Equipment Fund - This fund was established to account for the proceeds of lithe $430,000 General Obligation Improvement Bonds of 1978. The fund was closed during 1980. I I 11980 Equipment Fund - The 1980 Equipment Fund was used to account for the proceeds of Ithe $40,000 of equipment certificates sold during 1980. The equipment was purchased ~uring 1980 and the fund closed. i , ~oon Creek Drive. Fund - This fund accounts for the improvement of Coon Creek Drive. financing has been provided primarily by the State of Minnesota. The Fund had a deficit ~und balance of $1,185 at December 31, 1980. I I Park Fund - The Park Fund was established to account for revenue, primarily park ~edication fees, to be used for the acquisition and improvement of parks. The fund balance was $47,392 at December 31,.1980. I 1 Special Assessment Funds I P!Il. w.I account for the proceeds from the be used for equipment acquisition. m c c Special assessment funds were established to account for assessments levied to finance improvements or services deemed to benefit the properties against which the assessments I are levied. Primarily, the transactions accounted for in the funds are the receipt bf bond proceeds or other sources of financing and disbursement of such proceeds for ~onstruction work done and the collection of assessments against benefited property ~wners and disbursements of assessment collections for the payment of bonds and interest. I I ! ~, I mf I i ---=-=--1 II ~ I I I I I I I c 11 . J- I I I I I I I I I I I General Fixed Assets This account group is used to show the general fixed assets of the are used in the performance' of the general governmental functions. 1980, the general fixed assets of the City amounted to $8,427,793. City. These assets As of December 31, General Long-term Debt General obligation bonds and other forms of long-term debt that are obligations of the City as a whole and not its individual funds are accounted for in this self- balancing account group. Long-term debt included in the account at December 31, 1980 were are follm~s: 1978 G. O. Bonds 1979 Certificates of Indebtedness 1980 Equipment Certificates Long-term payable - Metropolitan Waste Control Commission III Original amouht $430,000 85,000 40,000 43,018 $598,018 Outstanding December 31, 1980 $400,000 68,000 40,000 34,232 $542.232 ~ ~ .. " .. c c c c C I ~ I m: I r-\' 1.1 c! i C I I Oi C C C , m 01 - - II II il il 'I i JI ~ JI i. l: I I tl I I I I I I I SECTION II FINANCIAL SECTION c ~ ~ c c c C I C ~ m c c 01 C C C ~ I ~ C =I'~ ,-- 1 I I GEORGE M, HANSEN COMPANY. P,A, A Professional Corporation ofCerr({iedPuhlic Accountants 175 SOUTH PLAZA BUILDING MINNEAPOLIS, MINNESOTA 55416 I ACCOUNTANTS' REPORT I I I ]1 l I I The City Council of Andover, Minnesota We have examined the combined financial statements of the City of Andover, Minnesota, as of and for the year ended December 31, 1980, as listed in the table of contents. Our examination was made in accordance with generally accepted auditing standards and, accordingly, included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances. I In our opinion, the combined financial statements referred to above present fairly the financial position of the City of Andover, Minnesota, at December 31, 1980, and the results of its operations for the year then ended, in conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding year. I Our examination was made for the purpose of forming an op~n~on on the combin~d financial statements taken as a whole. The combining, individual fund, and account group financial statements and schedules listed in the table of contents are presented for purposes of additional analysis and are not a required part of the combined financial statements of the City of Andover, Minnesota. The information has been subjected to the auditing procedures applied in the examination of the combined financial statements and, in our opinion, is fairly stated in all material respects in relation to the combined financial statements taken as a whole. Our examination did not include the statistical information listed in the table of contents. I I I I ~ 7!f. J~ ~ pl./?-. March 18, 1981 I I I I $171,241 $ 4,034 $ 25,206 175 42,000 1,137 14,030 7,072 1,964 ( 7,072) ( 1,964) 775 3,399 812 13,038 356 7, 123 CITY OF ANDOVER, MINNESOTA COMBINED BALANCE SHEET ALL FUND TYPES AND ACCOUNT GROUPS DECEMBER 31, 1980 General ASSETS Cash Petty cash Investments Accounts receivable Taxes receivable Allowance for uncollectible taxes Special assessments receivable Due from other governmental units Accrued interest receivable Due from other funds Property and equipment Amount available in debt service funds for'payment of bond principal and interest Amount to be provided by future revenues Total assets $186.366 LIABILITIES AND FUND EQUITY Liabilities Accounts payable Contracts payable . Due to other governmental units Due to other funds Deposits payable Bonds payable Deferred revenue Total liabilities $ 6,034 3,176 13,148 11,.2 95 51,816 24,662 $110,131 Fund equity Investment in General Fixed Assets Fund balance Reserved Unreserved Total fund equity $ 49,794 26,441 $ 76,235 $186,366 Total liabilities and fund equity See accompanying notes to financial statements. Governmental Fund Types General Debt Service Special Revenue $ 21.819 $ 75.141 $ 287 $ 287 $ 21,532 $ 21,532 $ 21.819 $ 75,141 $ 75,141 $ 75.141 c c c C- E c ~ m m oj c c c c c ~ m m c il 3 il 11 lJ Account Groups General General Total ~ I Capital Special Fixed Long-term (Memorandum only) i Proiects Assessment Assets Debt 1980 1979 ~I $ 44,794 $ 451,633 $ 696,908 $ 447,893 175 175 ~I 5,000 3,801,000 3,848,000 1,515,000 2,000 4,781 21,948 14,539 25 9,061 8,338 ~ ( 25) ( 9,061) ~ I 2,964,044 2,968,218 2,357,921 896 896 894 219 102,988 104,019 11 3,921 24,438 59,617 $8,427,793 8,427,793 5,317,497 .j $ 75,141 75,141 45,660 II 467 ,091 467,091 505,908 $ 52.909 $ 7.328,367 $8.427.793 $542.232 $16.634.627 $10.273.442 I I $ 366 $ 34,678 $ 41,365 $ 73,601 176,621 179,797 29,698 I $ 34,232 47,380 39,068 13,143 24,438 59,617 150,725 202,541 29,975 8,890,400 508,000 9,398,400 4,619,800 I 24,662 23,484 $ 366 $ 9,265,567 $542,232 $ 9,918,583 $ 4,875,243 I $8,427,793 $ 8,427,793 $ 5,317,497 I $(1,943,519) (1,818,584) ( 193,300) $ 52,543 6,319 106,835 274,002 $ 52,543 $(1,937,200) $8,427,793 $ 6,716,044 $ 5,398,199 F I $ 52.909 $ 7.328,367 $8.427.793 $542.232 $16.634.627 $10.273,442 I I 4 I I I CITY OF ANDOVER, MINNESOTA COMBINED STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCES ALL GOVERNMENTAL FUND TYPES YEAR ENDED DECEMBER 31, 1980 General Revenue Taxes Licenses and permits Intergovernmental revenue Special assessments levied Charges for services Fines and forfeits Interest Other Park dedication fees Total revenue $ 182,391 31,808 243,327 10,293 8,808 10,527 78,863 $ 566,017 Other sources Transfers from other funds Bond proceeds Total revenue and other sources 42,203 $ 608,220 Expenditures General government Public safety Public works Sanitation Recreation Other una1located Capital projects Debt service Total expenditures $ 236,152 176,901 125,791 5,173 53,111 22,789 $ 619,917 Other uses Transfers to other funds Total expenditures and other uses 24,500 $ 644,417 $( 36,197) Net increase (decrease) in fund balance Fund balance January 1 as previously reported Prior period adjustment Fund balance January 1 as restated $ 85,535 26,897 $ 112 ,432 Fund balance December 31 $ 76,235 See accompanying notes to financial statements. ,-~- Special Revenue $ 38,039 55,682 609 17 $ 94, 347 $ 94,347 $ 52,192 $ 52 , 192 42,203 94,395 48) 21,580 $ 21,580 21.532 c c c c c c c ~ m c c c C. el I C c c ~ m I 5 il il 11 Total Debt Capital Special (Memorandum Service Pro;ects Assessment 1980 il $ $ $ $ 37,033 3,741 223,165 204,625 I 31,808 53,207 21,574 $ 19,359 114 322,413 354,777 822,210 822,210 275,811 65,975 70,250 I 8,808 7,386 7,191 2,329 554,652 575,308 271,271 . 24,427 103,307 89,176 I 46,357 46,357 $ 65,798 $ 68,045 $ 1,405,144 $ 2,199,351 $ 1,326,503 - I 40,767 1,000 83,970 36,482 40,000 40,000 85,000 - $ 106,565 $ 108,045 $ 1,406,144 $ 2,323,321 $ 1,447,985 ! I $ 236,152 $ 186,655 ~ I 176,901 176,374 125,791 108,786 - 57,365 58,375 - I 53,111 64,251 ~ 22,789 18,093 j $ 108,637 $ 2,940,860 3,049,497 849,216 ~ $ 77,084 233,112 310,196 242,393 , I $ 77,084 $ 108,637 $ 3,173,972 $ 4,031,802 $ 1,704,143 1 ~ 1 I 17,267 83,970 36,482 ~ $ 77 ,084 $ 125,904 $ 3,173,972 $ 4,115,772 $ 1,740,625 ~ I $ 29,481 $( 17 ,859) $(1,767 ,828) $(1,792,451) $( 292,640) $ 45,660 $ 70,402 $( 169,372) $ 53,805 $ 340,787 .. . 26,897 32,555 j I $ 45,660 $ 70,402 $( 169,372) $ 80,702 $ 373,342 $ 75.141 $ 52.543 $(1.937.200) $(1. 711. 749) $ 80.702 )1 11 I I 6 c CITY OF ANDOVER, MINNESOTA c NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 1980 c Note 1 - Summary of Significant Accounting Policies c The City operates under "Optional Plan A" form of City government according to applicable State of Minnesota Statutes and provides the following services: public safety, public works, sanitation, recreation, public improvements, planning and zoning and general administrative services. D The accounting policies of the City of Andover conform to generally accepted accounting principles as applicable to governments. The following is a summary of the more significant policies: c A. Fund Accounting c The accounts of the City are organized on the basis of funds and account groups, each of which is considered a separate accounting entity. The operations of each fund are accounted for with a separate set of se1f- balancing accounts that comprise its assets, liabilities, fund equity, revenues and expenditures, or expenses, as appropriate. Government resources are allocated to and accounted for in individual funds based upon the purposes for which they are to be spent and the means by which spending activities are controlled. The various funds are grouped, in the financial statements in this report, into five generic fund types and one broad fund category as follows: ~ c c GOVERMENTAL FUNDS m General Fund - The General Fund is the general operating fund of the City. It is used to account for all financial resources except those required to be accounted for in another fund. m Special revenue funds - Special revenue funds are used to account for the proceeds of specific revenue sources that are restricted to expenditures for specified purposes. m Debt service funds - Debt service funds are used to account for the accumulation of resources for, and the pay~ent of, general long-term debt principal, interest, and related costs. m Capital projects funds - Capital projects funds are used to account for financial resources to be used for the acquisition or construction of major capital facilities. c c Special assessment funds - Special assessment funds are used to account for the financing of public improvements or services deemed to benefit the properties against which special assessments are levied. c c c I 7 CITY OF ANDOVER, MINNESOTA I NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 1980 I I Note 1 - Summary of Significant Accounting Policies (Continued) B. Fixed Assets and Long-term Liabilities I The accounting and reporting treatment applied to the fixed assets and long-term liabilities associated with a fund are determined by its measurement focus. All governmental funds are accounted for on a spending or "financial flow" measurement focus. This means that only current assets and current liabilities are generally included on their balance sheets. Their reported fund balance is considered a measure of "available spendable resources." Governmental fund operating statements present increases and decreases in net current assets. Accordingly, they are said to present a summary of sources and uses of "available spendable resources" during a period. I I I I Fixed assets used in governmental fund types operations (general fixed assets) are accounted for in the General Fixed Assets Account Group, rather than in governmental funds. Public domain general fixed assets consisting of certain improvements other than buildings, including roads, bridges, curbs and gutters, streets and sidewalks, drainage systems and lighting systems, are capitalized along with other general fixed assets. No depreciation has been provided on general fixed assets. I I All fixed assets are valued at historical cost or estimated historical cost if actual historical cost is not available. Donated fixed assets are valued at their estimated fair value on the date donated. I Long-term liabilities expected to be financed from governmental funds are accounted for in the General Long-term Debt Account Group, not in the governmental funds. The single exception to this general rule is for special assessment bonds, which are accounted for in special assessment funds. I I The two account groups are not "funds." the measurement of financial position~ measurement of results of operations. They are concerned only with They are not involved with I Because of their spending measurement focus, expenditure recognition for governmental fund types is limited to exclude amounts represented by noncurrent liabilities. Since they do not affect net current assets, such long-term amounts are not recognized as governmental fund.type expenditures or fund liabilities. They are instead reported as liabilities in the General Long-term Debt Account Group. I I I I 8 c CITY OF ANDOVER, MINNESOTA NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 1980 c c Note 1 - Summary of Significant Accounting Policies (Continued) I I I ! I I ~~I_ __-b- c C. Basis of Accounting Basis of accounting refers to when revenues and expenditures or expenses are recognized in the accounts and reported in the financial statements.. Basis of accounting relates to the timing of the measurements made, regardless of the measurement focus applied. c c The General Fund and special revenue funds, general debt service funds and capital projects funds are accounted for using the modified accrual basis of accounting. Their revenues are recognized when they become measurable as net current assets. c Expenditures are generally recognized under the modified accrual basis of accounting when the related fund liability is incurred. Exceptions to this general rule include: (1) accumulated unpaid vacation, sick pay, and other employee amounts which are not accrued; and (2) principal and interest on general long-term debt which is recognized when due. c c The special assessment funds are accounted for using the accrual basis of accounting, except for interest on special assessments receivable and special assessment bonds which are recognized when due. Their revenues are recognized when they are earned, and their expenses are recognized when they are incurred. c c D. Budgets and Budgetary Accounting The City follows these procedures in establishing the budgetary data reflected in the financial statements: c 1. Prior to January 1, the budget is adopted by the City Council. ~ 2. Formal budgetary integration is employed as a device during the year for the General Fund. integration is not employed for other funds. management control Formal budgetary c 3. Budgets for the General Fund are adopted on a basis consistent with generally accepted accounting principles (GAAP). D Budgeted amounts are as originally adopted, or as amended. Individual amendments were not material in relation to the original appropriations ~ which were amended. ~ E. Investments c Investments are stated at cost or amortized cost, which approximates market. c ~ I I I I I I I I I I I I I I I I I I I CITY OF ANDOVER, MINNESOTA NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 1980 Note 1 - Summary of Sign}fieant Accounting Policies (Continued) 9 F; Accumulated Unpaid Vaeation, Sick Pay and Other Employee Benefit Amounts Accumulated vacation and sick leave are not recorded as liabilities at December 31, 1980. City employees are entitled to vacation and sick leave based on length of employment, and the payment thereof is treated as expense in the period paid. ilt: December 31, 1980, unrecorded Genera 1 and Spec ia 1 Revenue Fund liabilities included approximately $6,500 vacation pay, and $12,000 sick pay. G. Total Columns on Combined Statements - Overview Total columns on the combined statements - overview are capitoned Memorandum Only to indicate that they are presented only to facilitate financial analysis. Data in these columns do not present financial position, results of operations, or change~ in financial position in conformity with generally accepted accounting principles. Neither is such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this data. Note 2 - Property Taxes Allowances are provided for the full amount of delinquent taxes receivable. This has the effect of recognizing property tax revenues at the time property taxes are collected, Note 3 - Due From Other Governments ".-- Amounts due from other governmental units include $896 due from the State of Minnesota Department of Highways for street construction. Note 4 - Changes in General F~xed Assets A summary of changes in general fixed assets follows: Balance January 1, 1980 Additions Land and improvements Building and improvements Furniture and equipment Machinery and automotive equipment Other improvements Total $ 65,680 383,062 24,079 266,515 4,578,161 $5.317.497 $ 431 2,664 4,408 97,361 3,005,432 $3.110.296 Balance December 31, 1980 $ 66,111 385,726 28,487 363,876 7,583,593 $8.427.793 CITY OF ANDOVER, MINNESOTA c NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 1980 c c ~ ~ Note 5 - Changes in Long-term Debt The following is a summary of bond transactions of the City for the year ended December 31, 1980: General Special obligation assessment Total Bonds payable at January 1, 1980 $ 515,000 $4,104,800 $4,619,800 New bonds issued 40,000 4,893,000 4,933,000 Bonds retired 47,000 107,400 154,400 Bonds payable at December 31, 1980 $ 508.000 $8.890,400 $9.398.400 c c Bonds payable at December 31, 1980 are comprised of the following individual issues: c c c w c m General obligation bonds: $430,000 Bonds of 1978 due in varying annual installments through February 1, 1989; interest at 5.70 percent to 5.60 percent $ 400,000 $85,000 1979 Certificate of Indebtedness due in annual install- ments of $17,000 through August 1, 1980; interest at 6.00 percent 68,000 $40,000 1980 Street Equipment Certificate due in annual install- ments of $8,000 through April 1, 1985; interest at 7.00 percent 40,000 $ 508,000 Special assessment bonds: $46,000 Improvement bonds of 1975 due in annual installments of $4,600 through September 1, 1986; interest at 6.25 percent to 6.50 percent $ 27,600 c c c c c $1,635,000 General Obligation Improvement Bonds of 1976 du.e in varying annual installments through February 1, 1997; interest at 6.20 percent to 6.80 percent. 1,495,000 $56,000 Improvement Bonds of 1976 due in annual installments of $2,800 through November 1, 1996; interest at 5.00 percent 44,800 $1,215,000 General Obligation Improvement Bonds of 1977 due in varying annual installments through January 1, 1996; interest at 5.00 percent 1,150,000 $780,000 General Obligation Improvement Bonds of 1977 due in varying annual installments through February 1, 1998; interest at 5.25 percent to 5.50 percent 745,000 c c II 11 II JI jl 11 JI ~I ]1 ~ 11 J I - jl II II ]1 Ii 11 1 'i I I CITY OF ANDOVER,MINNESOTA NOTES TO FINANCI}~ STATEMENTS (CONTINUED) DECEMBER 31, 1980 Note 5 - Changes in Long-term Debt (Continued) Special assessment bonds (continued): 11 $270,000 General Obligation Improvement Bonds of 1978 due in varying annual installments through February 1, 1999; interest at 5.25 percent to 6.00 percent $270,000 General Obligation Improvement Bonds of 1979 due in varying annual installments through February 1, 1995; interest at 6.50 percent $ 265,000 270,000 $430,000 General Obligation Improvement Bonds of 1980 due in varying annual installments through February 1, 1991; interest at 6.1 percent to 6.9 percent 430,000 $98,000 General Obligation Bonds of 1980 due in annual install- ments of $4,900 through February 1, 2001; interest at 7.00 percent $4,365,000 General Obligation Improvement Bonds of 1980 due in varying annual installments through February 1, 2002; interest at 8.50 percent to 9.10 percent 98,000 4,365,000 $8.890.400 The annual requirements to amortize all debt outstanding as of December 31, 1980, including interest payments of $8,095,039, are as follows: Annual Requirements to Amortize Long-term Debt December 31, 1980 Year ending December 31 Special assessment General obligation 1981 1982 1983 1984 1985 1986-1990 1991-1995 1996-2000 2001-2005 $ 702,305 798,480 910,779 896,001 900,074 4,407,123 4,268,609 2,939,537 1,036,365 $16,859,273 634.166 $ 88,270 89,553 85,692 81,833 65,830 222,988 $ Total - $ 790,575 888,033 996,471 977,834 965,904 4,630,111 4,268,609 2,939,537 1,036,365 $17.493.439 $75,141 is available in the debt service funds to service the general obligation bonds. There are a number of limitations and restrictions contained in the various bond indentures, The City is in compliance with all significant limitations and restrictions. ! I 12: I I I I ! CITY OF ANDOVER, MINNESO~ NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 1980 Note 6 - Budget c o! i I ~! c Annual budgets for special revenue funds have not been prepared or adopted by the City; consequently comparisons between budgeted and actual revenue and expenditures are not included for any of these funds. Note 7 - Special Assessment Fund Deficits C I The following special assessment funds had deficit fund balances at December 31, 1980: ~ Project 75-1 Project 79-2 Project 80-1 Project 80-3 $ 168,462 23,771 30,847 1,988,008 $2.211.088 c These deficits will be eliminated by future assessments and tax levies. c Note 8 - Deficit Fund Balances c The only fund other than those covered by Note 7 with a deficit fund balance is Coon Creek Drive Construction Fund. This fund has a deficit balance of $1,185 at December 31, 1980, which wUl be partially financed by a reimbursement from the State. Any costs not reimbursed will be financed by tax levies. Note 9 -'Interfund Receivables and Payable Balances Such balances at December 31, 1980 were: Fund Interfund Receivables General Fund Special Revenue Fund Sewer Fund Debt service funds 1978 G.O. Bond Fund 1980 Equipment Certificate Fund Special assessment funds Project 75-1 Project 75-2 Project 76-1 Project 77-1 Project 78-1 Project 79-1 $ 13,038 356 5,723 1,400 1,200 171 2,550 $ 24.438 1- c ~ Interfund Payables $ 11,295 ~ m m 53 9,663 53 293 381 2,700 $ 24.438 m w c c c 11 ]1 . 11 ~I 1 jl 11 i- ]1 j- 11 I I I I I I I I I ~I 13 CITY OF ANDOVER, MINNESOTA NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 1980 Note 10 - Retirement Plan The City participates in a State-wide contributory pension plan under the Public Employees' Retirement Association, Minnesota Statutes Chapter 353, which covers all employees except certain temporary or seasonal employees. The City's contribution for pension costs, under the State-wide plan, was $7,262 for the year ended December 31, 1980. Under existing Minnesota law, the City has no future contingent obligations or commitments to the plan or its participants except to make continuing contributions as determined from time to time by the State Legislature. Note 11 - Litigation The City is involved in two eminent domain proceedings commenced by the City to acqure easements for road and sewer improvements. Both of these actions should be concluded in 1981 and should not amount to more than $16,100. Note 12 - Contingent Liabilities The City participates in the Federal Revenue Sharing Program. This program is subject to a program compliance audit by the grantor or its representataves, The audit of this program has not been conducted for the year ended December 31, 1980. Accordingly, the City's compliance with applicable grant requirements will be established at some future date. The amount, if any, of expenditures which may be disallowed by the granting agency cannot be determined at this time, although the City expects such amounts, if any, to be immaterial. Note 13 - Prior Period Adjustment The General Fund fund balances of January 1, 1979 and 1980 have been restated as shown in the following schedule to reflect changes in accounting methods: January 1, 1980 January 1, 1979 Fund balance January 1 - As previously reported $ 85,535 $139,676 Prior period adjustment Deferred revenue recognized as earned in prior years Removal of long-term payable previously included in General Fund should be General Long-term Debt Error in prior year liabilities Total prior period adjustment (23,484) (22,126) 46,381 50,681 4,000 4,000 $ 26,897 $ 32,555 $112.432 $172.231 Fund balance January 1 - As restated I 14' I I C CITY OF ANDOVER, MINNESOTA $ 49,794 75,141 (1,943,519) $(1.818.584) c c c C, I C NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 1980 I Note 14 - Reserved Fund Balances The following reservations have been made of various fund balances at December 31, 1980: , General General debt service funds Special assessment I Note 15 - Long-term Payable Included in the General Long-term Debt Account Group is a long-term payable of $34,231 due to the Metropolitan Waste Control Commission. This amount with interest at 5.369% is payable as follows: Year Principal Interest Total 1981 $ 2,462 $ 1,838 $ 4,300 1982 2,594 1,706 4,300 1983 2,733 1,567 4,300 1984 2,880 1,420 4,300 1985 3,035 1,265 4,300 1986-1991 20,527 3,845 24, 372 $34.231 $11.641 $45.872 , 1 I -~I CITY OF ANDOVER, MINNESOTA GENERAL.FUND COMPARATIVE BALANCE SHEET DECEMBER 31, 1980 AND 1979 ASSETS Cash Petty cash Investments Accounts receivable Delinquent taxes receivable Allowance for uncollectible taxes Special assessments receivable - Deferred Due from other funds Due from other governmental units Total assets LIABILITIES AND FUND EQUITY Liabilities Accounts payable Contracts payable Due to other funds Due to other governmental units Deposits Deferred revenue Fund balance Reserved Unreserved . Total liabilities and fund balance 1980 $171,241 175 1,137 7,072 ( 7,072) 775 13,038 $186.366 $ 6,034 3,176 11,295 13 , 148 51,816 24,662 $110,131 $ 49,794 26,441 $ 76,235 $186.366 15 1979 $116,366 175 80,000 2,533 6,202 1,008 47,116 894 $254.294 $ 73,490 12,413 2,500 29,975 23,484 $141,862 $112,432 $112,432 $254.294 161 i CITY OF ANDOVER, MINNESOTA GENERAL FUND STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE YEAR ENDED DECEMBER 31, 1980 (With comparative actual amounts for year ended December 31, 1979) 1980 1979 I Budget Actual Actual ! i Revenue I Taxes $228,699 $182,391 $145,745 Licenses and permits 49,555 31,808 53,207 Intergovernmental 226,672 243,327 167,282 Charges for services 5,950 10,293 7,619 Fines and forfeits 7,500 8,808 7,386 Other 37,940 89,390 83,632 Total revenue $556,316 $566,017 $464,871 Other sources Transfers from other funds 38,624 42,203 36,482 Total revenue and other sources $594,940 $608,220 $501,353 Expenditures General government $187,276 $236,152 $186,655 Public safety 187,093 176,901 176,374 Public works 117,238 125,791 108,786 Sani ta t ion 13,250 5,173 6,993 Recreation 53,906 53, III 64,251 Other una110cated 12,974 22,789 18,093 $.571,737 $619,917 $561,152 Other uses Transfers to other funds 23,203 24,500 Total expenditures and other uses $594,940 $644,417 $561,152 Net increase (decrease) in fund balance $ -0- $(36,197) $(59,799) Fund balance January 1, as previous 1y reported $ 85,535 $139,676 Adjustments - See Note 13 26,897 32,555 Fund balance January 1, as restated $112 ,432 $172,231 Fund balance December 31 $ 76.235 $112.L132 " '" ~ C C C C C c ~ ~ m m c c c c c c c c I I I I I I I I I I I I I I I I I I I CITY OF ANDOVER, MINNESOTA GENERAL FUND STATEMENT OF REVENUE, COMPARED TO BUDGET YEAR ENDED DECEMBER 31, 1980 (With comparative actual amounts for year ended December 31, 1979) Taxes 1980 Budget Actual $228,699 $182,391 $ 8,193 $ 6,878 41,362 24,930 $ 49,555 $ 31,808 $107,660 $107,660 71,567 105,143 17,445 15,026 6,450 7,648 1,000 400 30,000 $226,672 $243,327 $ 4,850 $ 7,443 800 1,328 300 1,522 $ 5,950 $ 10,293 $ 7,500 $ 8,808 Licenses and permits Business Non-business Intergovernmental Local governmental aid Homestead credit State highway aid Planning grant Comprehensive Employment Act Boat landing grant Insurance premium tax State rebate to fire Energy audit grant Miscellaneous grants Charges for services General government Public safety Sanitation Fines and forfeits Other Contributions Interest on investments Reimbursement from improvement projects Insurance settlements Employee insurance Miscellaneous Refunds and reimbursments Revenue collected for other agencies Escrow $ 2,500 $ 10,527 47,892 1,204 1,200 2,166 1,200 3,570 15,000 18,289 12 , 040 5,742 6,000 $ 37,940 $ 89,390 $556,316 $566,017 Total revenue Other sources Transfers from other funds Revenue Sharing Fund Anti-Recession Fund 17 1979 Actual $145,745 $ 10,341 42,866 $ 53,207 $ 89,717 51,648 17,445 4,726 3,746 $167,282 $ 4,861 1,086 1,672 $ 7,619 $ 7,386 $ 26,689 9,597 1,273 2,836 25,775 17,462 $ 83,632 $464,871 $ 38,624 $ 40,310 $ 36,482 1,893 $ 38,624 $ 42,203 $ 36,482 $594.940 $608.220 $501.353 Total revenue and other sources 18, CITY OF ANDOVER, MINNESOTA II I GENERAL FUND STATEMENT OF EXPENDITURES, COMPARED TO BUDGET YEAR ENDED DECEMBER 31, 1980 (With comparative actual amounts for year ended December 31, 1979) 1980 1979 I Budget Actual Actual General government Legislative Personal services $ 11,950 $ 12,313 $ 11,562 Other services and charges 5,343 4,962 4,509 $ 17,293 $ 17,275 $ 16,071 Executive Personal services $ 2,560 $ 2,545 $ 2,522 Other services and charges 100 65 $ 2,660 $ 2,610 $ 2,522 Administrative j Personal services $ 37,931 $ 38,934 $ 39,195 Q Supplies 1,000 858 1,271 Other services and charges 4,554 3,670 2,373 Capital outlay 600 221 768 : $ 44,085 $ 43 $ 43,607 Elections Personal services $ 3,000 $ 3,460 Supplies 1,000 701 $ 14 Other services and charges 162 Capital outlay 1,300 1,294 1,294 5,300 $ 5,617 $ 1,308 Assessing Supplies $ 14 ill Other services and charges 400 Contractual $ 11,000 $ 11,746 3,000 $ 11,000 $ 11,746 $ 3,414 Consulting staff Auditing $ 4,700 $ 4,900 $ 4,050 Legal 20,000 46,591 22,898 $ 24,700 $ 51,491 $ 26,948 j Planning and zoning Personal services $ 10,775 $ 8,633 $ 8,159 Supplies 1,200 995 1,159 w Other services and charges 9,550 4,121 8,441 Capital outlay 150 80 $ 21,675 $ 13,829 $ 17,759 ' f ill � i 1--------- 19 I I I I I I I - 11 ~ - j I t 11 I 11 i I ... " I I II I I I I CITY OF ANDOVER, MINNESOTA GENERAL FUND STATEMENT OF EXPENDITURES, COMPARED TO BUDGET (CONTINUED) YEAR ENDED DECEMBER 31, 1980 (With comparative actual amounts for year ended December 31, 1979) 20 CITY OF ANDOVER, MINNESOTA GENERAL FUND STATEMENT OF EXPENDITURES, COMPARED TO BUDGET (CONTINUED) YEAR ENDED DECEMBER 31, 1980 (With comparative actual amounts for year ended December 31, 1979) 1980 Budget Actual Public safety (continued) Protective inspection Personal services Supplies Other services and charges Capital outlay $ 29,495 $ 25,799 1,400 699 16,277 7,518 200 40 $ 47,372 $ 34,056 Animal control Personal services Suppl ies Other services and charges $ 100 $ 142 4,000 5,029 $ 4,100 $ 5,171 $187,093 $176,901 Total public safety Public works Streets and highways Personal services Supplies Other services and charges Capital outlay $ 22,081 41,600 29,000 $ 92,681 $ 10,607 2,500 8,550 $ 21,657 $ 31,573 911 37,763 27,943 $ 98 ,190 $ 7,211 1,861 9,348 $ 18,420 $ 2,873 64 6,244 $ 9,181 $125 , 791 . Snow and ice removal Personal services Supplies Other services and charges Street lighting and signs Personal services Supplies Other services and charges $ 2,900 $ 2,900 $117 ,238 Total public works Sanitation Sewers Personal services Supplies Other services and charges Capital outlay .~'~ ~ c 1979 Actual c c c c $ 22.,141 1,226 25, 129 2,006 $ 50,502 $ 46 184 4,007 $ 4,237 $176,374 c c c C I m: I m C $ 13,798 49,782 23,245 $ 86,825 " .. $ 19,186 c c c c c c $ 2,775 $108,786 I I I I I I I I I -I il j I - J I ] I jl I I I I 21. CITY OF ANDOVER, MINNESOTA GENERAL FUND STATEMENT OF EXPENDITURES, COMPARED TO BUDGET (CONTINUED) YE~R ENDED DECID1BER 31, 1980 (With comparative actual amounts for year ended December 31, 1979) 1980 1979 Budget Actual Actual Sanitation (continued) Diseased trees Personal services $ 2,133 $ 352 $ 3,399 Supplies 200 Other services and charges 3,050 $ 5,383 $ 352 $ 3,399 Total sanitation $ 13,250 $ 5,173 $ 6,993 Recreation Personal services $ 10,507 $ 16,418 $ 9,219 Supplies 1,105 803 2,258 Other services and charges 28,794 29,305 28,617 Capital outlay 13,500 6,585 24,157 $ 53,906 $ 53,111 $ 64,251 Other una110cated Workers' compensation $ 3,000 $ 2,966 $ 2,734 Principal 2,337 2,337 .2,217 Interest expense 1,963 1,963 2,083 Improvement projects 14,807 5,922 Miscellaneous 5,674 716 5,137 $ 12,974 $ 22,789 $ 18,093 Total expenditures $571,737 $619,917 $561,152 Other uses Transfers to other funds Improvement Project 76~1 $ 1,000 1979 Certificate of Indebtedness Fund $ 21,803 22,100 1980 Equipment Certifi.cate Fund 1,400 1,400 $ 23,203 $ 24,500 Total expenditures and other uses $594,940 $644,417 $561.152 CITY OF ANDOVER, MINNESOTA SPECIAL REVENUE FUNDS COMBINING BALANCE SHEET DECEMBER 31, 1980 (With comparative totals for December 31, 1979) Totals Sewer 1980 1979 Cash $ 4,034 $ 4,034 $ 45,946 Accounts receivable 14,030 14,030 12,006 Special assessments receivable 3,399 3,399 Due from other funds 356 356 221 Total assets $ 21.819 $ 21.819 $ 58.173 Liabilities Accounts payable $ 287 $ 287 $ 111 Due from other funds 36,482 $ 287 $ 287 $ 36,593 Fund balance Unreserved $ 287 $ 21,532 $ 21,580 Total 1 iabil it ies and fund balance $ 21. 819 $ 21. 819 $ 58.173 I i I--r- - c c ~ c c C D ~ ~ ~ ~ m c Ci cl ; ! OJ 01 C C 1- -- 23 I I I I I I I I JI 11 ~ I CITY OF ANDOVER, MINNESOTA. SPECIAL REVENUE FUNDS COMBINING STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCES YEAR ENDED DECEMBER 31, 1980 (With comparative totals for year ended December 31, 1979) II J I i I I I I I I I ! 24 ! I ! CITY OF ANDOVER, MINNESOTA GENERAL DEBT SERVICE FUNDS COMBINING BALANCE SHEET DECEMBER 31, 1980 (With comparative totals for December 31, 1979) ASSETS ! ICash IInvestments !Taxes receivable : Delinquent ~llowance for delinquent I I taxes ~ue from other funds ~ccrued interest receivable Total assets 1978 G. O. Bonds $ 25,773 42,000 1,964 ( 1,964) 5,723 812 $ 7lf.308. ! FUND BALANCE 1 , Fund balance - Reserved ~74.308 1 : , I ! r' - t 1979 Certificate of Indebtedness $ -0- $ -0-' 1980 Equipment Certificate $( 567) 1,400 $ 833 $ 833 1980 $ 25,206 42,000 1,964 ( 1,964) 7,123 812 $ 75.141 $ 75.141 Totals c c c c c c c c c c C' I C1 C C C C ~ ~ m 1979 $ 34,696 2,102 8,862 $ 45.660 $ 45.660 I I I I I I I I ~I ;1 i ~I ~ I I 11 I I I I I I I 25 CITY OF ANDOVER, MINNESOTA GENERAL DEBT SERVICE FUNDS COMBINING STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCES YEAR ENDED DECEMBER 31, 1980 (With comparative totals for year ended December 31, 1979) 1979 Certificate 1980 1978 G. O. of Equipment Totals Bonds Indebtedness Certificate 1980 1979 Revenue General property taxes $ 37,033 $ 37,033 $ 46,762 Homestead credit 21,574 21,574 16,734 Interest on investments 6,358 $ 833 7,191 472 Total revenue $ 6Lf,965 $ 833 $ 65,798 $ 63,968 Other sources Transfers from other funds General Fund $ 22,100 1,400 23,500 Building and Equipment Fund 17 ,26'7. 17,267 Total revenue and other sources $ 82,232 $ 22,100 $ 2,233 $106,565 $ 63,968 Expenditures Redemption of bonds $ 30,000 $ 17,000 $ 47,000 Interest and service charges 23,584 5,100 $ 1,400 30,084 $ 18,308 Total expenditures i2l~!:t. $ 22,100 $ 1,400 $ 77 ,084 $ 18,308 Net increase in fund balance $ 28,648 $ -0- $ 833 $ 29,481 $ 45,660 Fund balance January 1 45,660 -0- -0- 45,660 -0- Fund balance December 31 U!:1..J08 $ -0- $ 833 $ 75.141 $ 45.660 CITY OF ANDOVER, MINNESOTA CAPITAL PROJECTS FUNDS COMBINING BALANCE SHEET DECEMBER 31, 1980 (With comparative totals for December 31, 1979) Cash (deficit) Investments Accounts receivable Due from other governments Accrued interest receivable Total assets L iabil i ties Accounts payable Contracts payable Due to other funds. Fund balance Reserved Unreserved ASSETS LIABILITIES AND FUND BALANCE Total liabilities and fund balance r' -r c c 1979 Equipment c c c $ 1,117 5,000 c 219 c $ 6.336 ~ c m c $ -0- $ 6,336 $ 6,336 $ 6.336 c c c c c c c ~ --------- I . 27 I I I Building and 1980 Coon Creek. Totals. I Equipment Drive Park 1980 1979 I $( 1,715) $ 45,392 $ 44, 794 $ 5,572 5,000 95,000 JI 2,000 2,000 896 896 . 219 I $ -0- $ -0- 2J-- 819) $ 47.392 $ 52.909 $100,572 il ~ I $ $ = 366 366 - $ 29,698 , I 472 ~ $ -0- $ -0- $ 366 $ -0- $ 366 $ 30,170 , I ~ $ 40,910 H 1,185) $ 47,392 $ 52,543 ~,492 - I $ -0- $ -0- $( 1,185) $ 47,392 $ 52,543 $ 70,402 ~ ~ S -O- S -0- g-L- 819) $ 47.392 S 52.909 $100.572 - j I ] i ii I 1 j i I JI 1 ~ I j .. I I ~~I CITY OF ANDOVER, MINNESOTA c c CAPITAL PROJECTS FUNDS COMBINING STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCES YEAR ENDED DECEMBER 31, 1980 (With comparative totals for year ended December 31, 1979) Revenue State grant Park dedication fees Interest on investments Total revenue Other sources Bond proceeds Total revenue and other sources Expenditures Professional services Other services and charges Capital outlay Easements Total expenditures Other uses Transfer to 1978 G. O. Bond Fund Total expenditures and other uses Net increase (decrease) in fund balance Fund balance January l' Fund balance December 31 r c c 1979 Equipment c $ c 770 $ 770 c c $ 770 c ~' ~ $ m I m 770 $ 5,566 6.336 c c c I 01 C c 29 i Building and 1980 Coon Creek Totals Equipment Equipment D rive Park 1980 1979 $ 19,359 $ 19059 $ 130,061 $ 46,357 46,357 3,555 $ 369 _ 341 849 2,329 20,882 $ 369 $ 19,700 $ 47,206 $ 68,045 $ 154,498 40,000 40,000 85,000 e $ 40,369 $ 19,700 $ 47,206 $ 108,045 $ 239,498 $ 149 $ 2 $ 2,796 $ 27 2,166 18,238 $ 3,375 23,779 369,098 41,693 $ 40,369 - -� 82,062 188,294 5,730 $ 44,008 $ 40,369 $ 20,885 $ 3,375 $ 108,637 $ 591,027 17,267 _ 17,267 $ 61,275 $ 40,369 $ 20,885 $ 3,375 $ 125,904 $ 591,027 $( 61,275) $ -0- $( 1,185) $ 43,831 $( 17,859) $(351,529) 61,275 -0- -•0- 3,561 70,402 421 S -0- S -0 `�� 1,185 S 47 ,392 $ 52,543 S 70,402 c c CITY OF ANDOVER, MINNESOTA SPECIAL ASSESSMENT FUNDS COMBINING BALANCE SHEET DECEMBER 31, 1980 (With comparative totals for December 31, 1979) c c 75-1 75-2 ASSETS c Cash (deficit) Investments Accounts receivable Taxes receivable - Delinquent Allowance for delinquent taxes Special assessments receivable Unremitted Delinquent Deferred Due from other funds Accrued interest receivable $ 47,331 $ 9,512 400,000 15,000 25 ( 25) 1,716 614 4,924 2,830 518,808 21,425 1,200 171 7,612 274 $ 981. 591 $ 49.826 c c C D ~ Total assets LIABIL1TIES AND FUND BALANCE Liabilities Accounts payable Contracts payable Bonds payable Deposits Due to other funds Total liabilities c $ 1,150,000 $ 27,600 53 9,663 $ 1,150,053 $ 37,263 $( 168,462) $ 6,244 6,319 $( 168 ,462) $ 12,563 $ 981.591 $ 49.826 c Fund balance Reserved Unreserved Total fund balance 0, I CI Total liabilities and fund balance c C' c C, el , ~=F==-- , -------------- -------- I 31 I I I Improvem~nt Proiects 76-1 77-1 78-1 79-1 79-2 I I $ 54 , 571 $ 23,357 $ 16,435 $ 14,833 $( 16,676) 796,000 351,500 53,000 35,500 4,781' ;1 1,216 262 282 1,803 11 22,119 9,865 1,046 4,124 784,381 405,516 197,508 222,365 289,076 2,550 ~I 17,261 12,003 1,285 481 48 $ 1.678.098 $ 802.503 $ 269.556 $ 279,106 $ 277 .229 - = ~I J I J I $ 1,539,800 $ 745,000 $ 265,000 $ 270,000 $ 301,000 293 381 2,700 ~ . I $ 745,293 $ 265,381 $ 272,700 $ 301,000 i ! ~ $ 138,245 $ 57,210 $ 4,1'l5 $ 6,406 $( 23,771) 1 I ~ $ 138 , 245 $ 5 7 , 2~!:.Q. $ 4,175 $ 6,406 $( 23,771) ~ j I $ 1.678.098 $ 802,503 $ 269.556 $ 279.106 $ 277.229 :!! I I I I ! ~-r; CITY OF ANDOVER, MINNESOTA SPECIAL ASSESSMENT FUNDS COMBINING BALANCE SHEET (CONTINUED) DECEMBER 31, 1980 (With comparative totals for December 31, 1979) ASSETS Cash (deficit) Investments Accounts receivable Taxes receivable ~ Delinquent Allowance for delinquent taxes Special assessments receivable Unremitted Delinquent Deferred Due from other funds Accrued interest receivable Total assets LIABILITIES AND FUND BALANCE Liabilities Accounts payable Contracts payable Bonds payable Deposits Due to other funds Total liabilities Fund balance Reserved Unreserved Total fund balance Total liabilities and fund balance ~ I c c c c c c 80-1 $ 18,257 c 98,074 c c ~ c $ 116.331 $ 18,178 129,000 $ 147,178 $( 30,847) $( 30,847) .$ 116.331 c c c c c c! C~ I c: ' 33 r ' Improvement Project 80 -2 80 -3 80-4 1980 1979 ' $ 61,474 $ 288,714 $( 66,175) $ 451,633 $ 245,313 1,980,000 170,000 3,801,000 1,340,000 4,781 25 34 ( 25) 5,893 44,908 39,356 59,132 7,524 309,434 2,913,243 2,317,557 3,921 3,418 . 58,7 5,264 102,988 S 120,606 2,334,998 S 418,523 $ 7,328 ,367 $ 3,945,678 $ 335 $ 14,688 $ 1,477 $ 34,678 163,618 13,003 176,621 3 , 98,000 3,993,975 371,025 8,890,400 $ 4,104,800 150,725 150,725 _ 13,143 10,250 $ 98,335 $ 4 $ 385,505 $ 9,265,567 $ 4,115,050 $ 22,271 $(1,988,008) $ 33,018 $(1,943,519) $( 234,210) 6,319 64,838 $ 22,271 $(1,988,208) $ 33,018 $(1,937,200 $( 169,372 S 120,606 $ 2,334,99 $ 418,523 $ 7.328.367 $ 3,945,678 I I . 34 CITY OF ANDOVER, MINNESOTA $ c c c c c SPECIAL ASSESSMENT FUNDS COMBINING STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCES YEAR ENDED DECEMBER 31, 1980 (With comparative totals for year ended December 31, 1979) 75-1 75-2 Revenue General property taxes Homestead credit Special assessments levied Unit connection charges Interest on investments Interest on assessments Sale of maps Miscellaneous $ 681 12,200 75,956 31,771 671 Total revenue $ 121,279 Other sources Transfer from General Fund Total revenue and other sources $ 121,279 Expenditures Assessment adjustments Professional services Supplies and printing Construction costs Reimbursement to General Fund Easements Discount on bonds Interest and fiscal charges $ . 204 58,500 Total expenditures $ 58,704 Net increase (decrease) in fund balance $ 62,575 Fund balance (deficit) January 1 ( 231,037) $( 168.462) Fund balance (deficit) December 31 ---~F~- - .~""--- 220 114 c c c c 1,979 2,018 $ 4,331 $ 4,331 ~ m m 01 Cl C $ 300 2,059 $ $ 2,359 1,972 $ 10,591 12.563 c c c c 36 c CITY OF ANDOVER, MINNESOTA c SPECIAL ASSESSMENT FUNDS COMBINING STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCES (CONTINUED) YEAR ENDED DECEMBER 31, 1980 (Hith comparative totals for year ended December 31, 1979) c c 80-1 c Revenue General property taxes Homestead credit Special assessment~ levied Unit connection charges Interest on investments Interest on assessments Sale of maps Miscellaneous $ 98,547 D 1,575 c c Total revenue $ 100,122 Other sources Transfer from General Fund ~ Total revenue and other sources $ 100,122 ~i Expenditures Assessment adjustments Professional services Supplies and printing Construction costs Reimbursement to General Fund Easements Discount on bonds Interest and fiscal charges c Fund balance (deficit) January 1 $ 27,535 90 99,098 2,069 500 1,677 $ 130,969 $( 30,847) -0- $( 30.847) c c c Total expenditures Net increase (decrease) in fund balance c Fund balance (deficit) December 31 I 0' I C! c c , i~ I 37 I I I Totals Improvement Projects I 80-2 80-3 1980 1979 $ 3,741 $ 12,118 I 114 4,218 $ 74,810 $ 9,405 $ 331,109 822,210 275,811 18;200 19,400 I 2,074 104,135 9,166 394,289 97,682 988 55 160,363 140,807 5,156 8,347 I 1,071 3,239 $ 76,884 $ 114,528 $ 340,330 $ 1,405,144 $ . 561,622 'I 1,000 -'I $ 76,884 $ 114,528 $ 340,330 $ 1,406,144 $ 561,622 I $ 2,004 $ 3,362 $ 327,508 $ 39,691 432,278 $ 36,297 2,500 301 2,891 290 51,251 1,694,326 260,055 2,373,354 213 , 044 I 47,776 8,558 500 78,202 7,265 91,057 '4,050 I 233,112 220,035 $ 54,613 $ 2,102,536 $ 307,312 $ 3,173,972 $ 482,274 I $ 22,271 $(1,988,008) $ 33,018 $(1,767,828) $ 79,348 -0- -0- -0- ( 169,372) ( 248,720) I $ 22.271 $(1. 988.008) $ 33,018 $<1.937.200) $( 169.372) I I I I c c c c c c c c c c c c c ~ ~ m m m c, , ;~ I I I I I I CITY OF ANDOVER, MINNESOTA COMPARATIVE STATEMENT OF GENERAL FIXED ASSETS DECEMBER 31, 1980 AND 1979 General Fixed Assets Land and improvements Buildings and improvements Furniture and equipment Machinery and automotive equipment Other improvements Total General Fixed Assets I I I I Investment in General Fixed Assets I I I -I I I I I I 1980 $ 66,111 385,726 28,487 363,876 7,583,593 $8.427.793 $8.427.793 39 1979 $ 65,680 383,062 24,079 266,515 4,578,161 $5.317.497 $5.317.497 40 CITY OF ANDOVER, MINNESOTA COMBINING STATEMENT OF GENERAL LONG-TERM DEBT DECEMBER 31, 1980 (With comparative totals for December 31, 1979) Amount available and to be provided for payment of general long-term debt Amount available in General Debt Service Fund Amount to be provided by future revenues Amount to be provided by the General Fund Total General long-term debt payable Bonds payable Due to other governmental unit Total I."~ c P'\ III c c c c O. $ 74,308 325,692 c $400.000 PI -.i $400,000 D C $400,000 c ~ c C D C C C c I, 1 I 1 I I I I I I I I 1 I I I I I I 1979 Certificate of Indebtedness $ 68,000 $ 68.000 $ 68,000 $ 68.000 1980 Equipment Certificates $ 833 39,167 $ 40.000 $ 40,000 $ 40.000 Long-term Payable Totals 1979 1980 $ 34,232 $ 34.232 $ 75,141 432,859 34,232 $542.232 $ 34,232 $ 34.232 $508,000 34,232 $542.232 41 $ 45,660 469,340 36,568 $551.568 $515,000 36,568 $551.568 I I I I I ,I ,I ,I ,I :' I ,I I ;1 ,I 11 11 il il ;1 SECTION III STATISTICAL SECTION c c c c c c c c c c c c c c c c c ~ ~ ~ -r '=--=-=- ;;;:-~ I I I I I CITY OF ANDOVER, MINNESOTA SCHEDULE OF CASH, INVESTMENTS AND SECURITY FOR DEPOSITS DECEMBER 31, 1980 First National Bank of Anoka Checking account Savings accounts Certificates of deposit I I Northwestern National Bank of St. Paul Certificates of deposit I Cash $ 2,285 694,623 $696.908 Investments $1,848,000 2,000,000 $3.848.000 43 Face amount of securities pledged as collateral by depository $2.820.000 $3.000.000 I Additional security of $100,000 each for demand deposits and time deposits is provided by the Federal Deposit Insurance Corporation at each depository. I I I I I I I I I I 44 -~-T" - ~ AlIi ~ C C C C ~ C C C C C C C C C C C C CITY OF ANDOVER, MINNESOTA COMBINED SCHEDULE OF INDEBTEDNESS DECEMBER 31, 1980 Final Interest Issue maturity rates date date Bonded indebtedness Special assessment bonds Improvement Bonds of 1975 6.25-6.50% 9/1/75 9/1/86 General Obligation Improvement Bonds of 1976 6.20-6.80 8/1/76 2/1/97 Improvement Bonds of 1976 5.00-6.75 11/1/76 11/1/96 General Obligation Improvement Bonds of 1977 5.00 3/1/77 1/1/96 General Obligation Improvement Bonds of 1977 5.25-5.50 10/1/77 2/1/98 General Obligation Improvement Bonds of 1978 5.25-6.00 11/1/78 2/1/99 General Obligation Improvement Bonds of 1979 6.50 11/1/79 2/1/95 General Obligation Improvement Bonds of 1980 6.54-6.90 6/1/80 2/1/91 General Obligation Improvement Bonds of 1980 7.00 8/1/80 2/1/01 General Obligation Improvement Bonds of 1980 8.50-9.10 10/1/80 2/1/02 General obligation bonds General Obligation Improvement Bonds of 1978 5.55- 5.70 11/1/78 2/1/89 1979 Certificates of lndebtedness 6.00 8/1/79 8/1/84 1980 Certificates of Indebtedness 7.00 10/1/80 4/1/85 Total Bonded Indebtedness Long-term payable 1971 1991 Total Indebtedness. I 45 I I I Indebtedness Authorized Due in 1981 and issued Redeemed 9utstanding Principal Interest II $ 46,000 $ 18,400 $ 27,600 $ 4,600 $ 1,771 II 1,635,000 140,000 1,495,000 55,000 95,893 56,000 11,200 44,800 2,800 2,730 II 1,215,000 65,000 1,150,000 20,000 57,500 780,000 35,000 745,000 25,000 38,924 11 270,000 5,000 265,000 10,000 14,900 II 270,000 270,000 5,000 17,388 ! .430,000 430,000 32,807 II 98,000 98,000 4,365,000 4,365,000 317,994 J I $9,165,000 . $ 274,600 $8,890,400 $ 122,400 $ 579,907 1 I ~ $ 430,000 $ 30,000 $ 400,000 $ 35,000 $ 21,670 ~ 85,000 17,000 68,000 17,000 4,080 . I 40,000 40,000 8,000 2,520 .. $ 555,00Q $ 47,000 $ 508,000 $ 60,000 $ 28,270 J - $ 9 , 72 0 , 000 $ 321 , 600 $9,398,400 $ 182,400 $ 608,177 - I 1 l $ 43,018 $ 8,786 $ 34,232 $ 2,462 $ 1,838 - . I $9,763.018 $ 330.38Q $9.432,632 $ 184.862 $ 610.015 . - - - I ] - I 11 I 46 Special assessment bonds Improvement Bond of 1975 $4,600 per year $4,600 per year General Obligation Improvement Bonds of 1976 $55,000 per year February 1, 1983 February 1, 1984 February 1, 1985 February 1, 1986 February 1, 1987 February 1, 1988 February 1, 1989. February 1, 1990 February 1, 1991 February 1, 1992 February 1, 1993 February 1, 1994 February 1, 1995 February 1, 1996 February 1, 1997 Improvement Bonds of 1976 November 1, 1981 $2,800 per year $2,800 per year $2,800 per year General Obligation Improvement Bond s of 1977 $20,000 per year $25,000 per year $30,000 per year $35,000 per year $40,000 per year $45,000 per year $50~000 per year $55,000 per year $60,000 per year $65,000 per year $70,000 per year ~JTY OF ANDOVER, MINNESOTA SCHEDULE OF BONDS PAYABLE DECEMBER 31, 1980 8/1/76 2/1/81-82 6.20 6.20 6.20 6.20 6.25 6.25 6..30 6.40 6.50 6.60 6.70 6.80 6.80 6.80 6.80 6.80 11/1/76 11/1/81 5.00 11/1/82-86 5.50 11/1/87-91 6.25 11/1/92-96 6.75 3/1/77 1/1/82-83 1/1/84-86 1/1/87-88 1/1/89-90 1/1/91-92 1/1/93- 94 1/1/95-96 1/1/97-98 1/1/99-2000 1/1/01-03 1/1/04-06 ~~-=F-~----~-----C-------- --- ---- - --., 5.00 5.00 5.00 5.00 5.00 5.00 5.00 5.00 5.00 5.00 5.00 $ 110,000 60,000 65,000 70,000 75,000 80,000 85,000 90,000 95,000 100,000 110,000 . 95,000 105,000 110,000 120,000 125,000 $1,495,000 I C C C C C C c m ~.' ~ m ~ c m c m m ~ = ~ $ 2,800 14,000 14,000 14,000 $ 44,800 $ 40,000 75,006 60,000 70,000 80,000 90,000 100,000 110,000 120,000 195,000 210,000 $1,150,000 I 47 CITY OF ANDOVER, MINNESOTA I SCHEDULE OF BONDS PAYABLE (CONTINUED) DECEMBER 31, 1980 I Annual I Issue Maturity Interest serial date date rate payments I Special assessment bonds (continued) General Obligation Improvement Bonds of 1977 10/1/77 $25,000 per year 2/1/81-82 5.25% $ 50,000 I $30,000 per year 2/1/83-85 5.25 90,000 $35,000 per year 2/1/86-88 5.25 105,000 $40,000 per year 2/1/89-90 5.25 80,000 I February 1, 1991 2/1/91 5.25 45,000 February 1, 1992 2/1/92 5.20 45,000 February 1, 1993 2/1/93 5.25 50,000 February 1, 1994 2/1/94 5.30 50,000 I $55,000 per year 2/1/95-96 5.40 110,000 $60,000 per year 2/1/97-98 5.50 120,000 $ 745,000 I General Obligation Improvement Bonds of 1978 1/1/78 I $10,000 per year 2/1/81-83 5.25 $ 30,000 $10,000 per year 2/1/84-88 5.50 50,000 February 1, 1989 2/1/89 5.50 15,000 February 1, 1990 2/1/90 5.60 15,000 I February 1, 1991 2/1/91 5.70 15,000 February 1, 1992 2/1/92 5.75 15,000 February 1, 1993 2/1/93 5.80 15,000 I February 1, 1994 2/1/94 5.90 15,000 February 1, 1995 2/1/95 6.00 15,000 $20,000 per year 2/1/96-99 6.00 80,000 I 265,000 General Obligation Improvement Bonds of 1979 11/1/79 I February 1, 1981 2/1/81 6.50 $ 5,000 February 1, 1982 2/1/82 6.50 10 ,000 $15,000 per year 2/1/83-87 6.50 75,000 I $20,000 per year 2/1/88-91 6.50 80,000 $25,000 per year 2/1/92-95 6.50 100,000 $ 270,000 I I I I CITY OF ANDOVER, MINNESOTA SCHEDULE OF BONDS PAYABLE (CONTINUED) DECEMBER 31, 1980 c c c c c c c c c c c c c c c c o c c 48 ~p~-,. 49 SCHEDULE OF BONDS PAYABLE (CONTINUED) DECEMBER 31, 1980 Annual Issue Ma turity Interest serial date date rate -payments General obligation bonds General Obligation Improvement Bonds of 1978 (Building and equipment) 11/1/78 February 1, 1981 2/1/81 5.70% $ 35,000 $40,000 per year 2/1/82-84 5.70 120,000 $45,000 per year 2/1/85-86 5.70 90,000 February 1, 1987 2/1/87 5.70 50,000 February 1, 1988 2/1/88 5.55 55,000 February 1, 1989 2/1/89 5.60 50,000 $ 400,000 1979 Certificate of tndebtedness (Equipment) 8/1/79 $17,000 per year 8/1/81-84 6.00 $ 1980 Certificate of Indebtedness 10/1/80 $8,000 per year 4/1/81-85 7.00 $ 40,000 Total general obligation bonds $ 508,000 Total bonds $9.398.400 50 CITY OF ANDOVER, MINNESOTA DEBT SERVICE REQUIREMENTS DECEMBER 31, 1980 Special Assessment Bonds ~ear Principal Interest Total 1981 $ 122,400 $ 579,905 $ 702,305 1982 157,300 641,180 798,480 1983 287,300 623,479 910,779 1984 292,300 603,701 896,001 1985 317,300 582,774 900,074 1986 347,300 559,976 907,276 '1987 367,700 535,044 902,744 '1988 402,700 508,253 910,953 '1989 427,700 343,117 770,817 '1990 467,700 447,633 915,333 '1991 502,700 413,067 915,767 ,1992 477,700 377,949 855,649 ,1993 487,700 342,878 830,578 ,1994 527,700 305,844 833,544 '1995 567,700 265,371 833,071 :1996 587,700 222,052 809,752 :1997 634,900 174,935 809,835 '1998 344,900 137,629 482,592 11999 314,900 111,784 426,684 2000 324,900 85,774 410,674 :2001 349,900 57,838 407,738 2002 370,000 27,627 397,627 :2003 70,000 10,500 80,500 2004 70,000 7,000 77 ,000 2005 70,000 3,50Q. 73,500 $8.890.400 $7.968_873 $16.859.273 -I $ 88,270 . 89,553 85,692 81,833 65,830 54,985 57,277 59,326 51,400 Ci I C1 I .~. ' .. m ~ " ~ ~ !!II ~ C C C C C C C C C C C General Long-term Debt Principal Interest Total $ 60,000 65,000 65,000 65,000 53,000 45,000 50,000 55,000 50,000 $508.000 $ 28,270 24,553 20,692 16,833 12,830 9,985 7,277 4,326 1,400 $126,166 $634.166 I 11 I I I I I I I I I I I I I I I I I 51 CITY OF ANDOVER, MINNESOTA TAX LEVIES AND COLLECTIONS Percentage Collection Percentage Collection of total Total of current of levy of prior Total collections Year levy year's l~ collected year's levy collections to levy 1980 $356,000 $344,318 96.72% $ 8,922 $353,240 99.22% SPECIAl, ASSESSMENT LEVIES AND COLLECTIONS Percentage Collection Percentage Collection of total Total of current of levy of prior Total collections Year levy year's le~y' collected year's levy collections to levy 1980 $225,305 $194,693 86.41% $16,982 $211,675 93.95% J j I ~ I I I I I I I I I I I I I I I I I I I 53 CITY OF ANDOVER, MINNESOTA ASSESSED VALUATIONS, TAX LEVIES AND MILL RATES (Shown by year of tax co11ectibi1ity) 1980 1979 $34,565,632 1,360,707 (2,483,123) $33.443.216 Assessed valuations Contribution to fiscal disparities pool Distribution from fiscal disparities pool $30,853,844 965,109 (1,691 ,464) $30.127.489 Taxable valuation Tax levies Revenue $ 295,119 $ 393,410 General obligation debt, 60,551 63,707 Special assessment debt 330 3,483 $ 356,000 $ 460.600, Mill rates Revenue General obligation debt. Special assessment debt 9.423 1. 933 .011 11.122 1.801 .099 11. 367 13.022