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Home My WebLink About1985 CAFR -I -I = I -I ~ I I II i I I I I I I I I I I I I CITY OF ANDOVER. MINNESOTA FINANCIAL STATEMENTS DECEMBER 31. 1985 u o c c ~, ~ ~, C I C' C C, i 0: i ! i Oi I Of I Pl" ! ~I ~i ~i I 10: t~,. ~.' ': I I i: C' -I I I I I I I I I I I I I I I I I I I Elected Mayor Jerry Windschitl Counc i1 James Elling Michael Knight Theodore M. Lachinski Kenneth Orttel CITY OF ANDOVER. MINNESOTA ELECTED AND APPOINTED OFFICIALS DECEMBER 31. 1985 Term of Office Expires First Business Day of January 1987 1987 1987 1989 1989 Appointed James E. Schrantz - Administrator c c c C D' ~ ~ [U C C o C, , 01 I Oi C D ~ Cr i ~ . - I - I - I c I - = ~ I ~ - .I I ~ ~ ~ I I i ~ I . I I ! 1 I I I I I I I I I I I I CITY OF ANDOVER. MINNESOTA TABLE OF CONTENIS SECTION I INTRODUCTORY SECTION ~ I Comments SECTION II FINANCIAL SECTION Auditors' opinion 1 II-A. General Pur?ose Financial Statements (Combined Finan~ial StatPments) Combined balance sheet - all fund types and account groups Combined statement of revenue. expenditures and fund balance All governmental fund types Combined statement of revenue. expenditures and fund balance - Budget and actual - General and special revenue fund types Statement of revenue. expenses and fund equity - All proprietary fund types - Enterprise funds Statement of changes in financial position - All proprietary fund types - Enterprise funds Notes to financial statements 2 4 6 8 9 10 II-B. Combining and Individual Fund Statements and A~count Groups General Fund Balance sheets Statement of revenue. expenditures and fund balance Schedule of revenue - Budget and actual Schedule of expenditures - Budget and actual 23 24 25 26 Special revenue funds Balance sheets 31 Statement of revenue. expenditures and fund balance - Budget and actual 31 Debt service funds Combining balance sheet Combining statement of revenue. expenditures and fund balance 33 34 Capital projects funds Combining balance sheet Combining statement of revenue. expenditures and fund balance 37 38 CITY OF ANDOVER. MINNESOTA TABLE OF CONTENTS (CONTINUED) ~ II-B. Combinine and Individual Fund Statements and Account Groups ( Continued) Special assessment funds Combining balance sheet Combing statement of revenue. expenditures and fund balance 40 44 Proprietary funds - Enterprise funds Combining balance sheet Combining statement of revenue. expense and retained earnings Combining statement of changes in financial position 48 49 50 Water Fund Balance sheets Statements of revenue. expense and retained earnings Statements of changes in financial position 51 52 53 Sewer Fund Balance sheets Statements of revenue. expense and retained earnings Statements of changes in financial position 54 55 56 Statements of general fixed assets 57 Statements of general long-term debt 58 II-C. Supplemental Information Schedule of cash. temporary investments and security for deposits Combined schedule of indebtedness Schedule of bonds payable Debt service requirements 59 60 62 67 SECTION III STATISTICAL SECTION Tax levies and collections Special assessment levies and collections Computation of legal debt margin Assessed valuations. tax levies and mill rates 69 69 70 73 c c c ~ D ~ ~ m 01 c c c pi! I.j c C D fII' Ii.j w c -I ~I :1 ~ I j I j I J I I I j I I I I I I I I I I . I I SECTION I INTRODUCTORY SECTION c c c c c c c ~ c c c c c c c o o c[ i! r , C I I I -I ~ I ~ I . I ! 1 I ~ . ) I \1 I I I I I I I I I I ~ ~ ,01 ANDOVER 1685 Crosstown Blvd. N.W. . Anoka. Minnesota 55303 . (612) 755-5100 COMMENTS The City of Andover. Minnesota operates under "Optional Plan Air 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 council members. Administrative personnel. including the clerk-treasurer. are appointed by the Council. General Fund The General Fund is used to account for all revenues 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 increased $58.562 during the year to $494.493. $lO.800 of the fund balance has been designated for equipment purchases leaving an undesignated fund balance of $483 ,693. A condensed summary of revenue and expenditures for the years ended December 31. 1985 and 1984 is shown below: Revenue and other sources Taxes Licenses and permits Intergovernmental revenue Charges for services Fines and forfeits Other revenue Transfers from other funds 1985 1984 Budiet Actual Bndfet Actual $ 457.294 $ 438.223 $388.265 $ 430.949 64.597 130.197 47.560 102.472 450.902 441.936 389.482 403.869 11.610 16.318 lO.040 14.936 12.000 18.330 12.000 6.26l 81.336 132.727 39.6l3 102.247 42.000 42.937 4l.500 40.0l8 $1.119.739 $1.220.668 $928.460 $1.100.752 $ 295.280 $302.376 $257.547 $ 252,060 363.503 409,566 289.575 323.011 . 179.750 186.790 l57.88O 127,7l5 11.789 17 .194 13.15l 3.740 l39,802 153,190 90,160 145.80l 47.071 39.710 37.767 30.476 . 85.644 53.280 82.380 74.710 $1.122.839 $1.162 .106 '$928.460 $ 957.513 $ (3.100) $ 58.562 $ -0- $ 143.239 Expenditures and other uses General government Pub lic saf ety Public works Sanitation Park and recreation Other unallocated Transfers to other funds Net increase in fund balance I Special Revenue Funds Special revenue funds are established to account for taxes and other revenue set aside for a particular purpose. Revenue Sharing Fund - This fund was established to account for revenue received from the Federal Government in accordance with the "State and Local Fiscal Assistance Act of 1972." Expenditures can only be made from this fund as outlined in the Act. The City's share of revenue for 1985 was $42.456. During 1985. $42.937 was transferred to the General Fund. There was no fund balance at December 31. 1985. Debt Service Funds 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 recorded as a liability in the General Long-term Debt Account Group. The funds included with the debt service funds are: 1978 General Obligation bonds 1980 Certificates of Indebtedness 1982 Certificates of Indebtedness 1983 Certificates of Indebtedness 1984 State-aid Street Bonds 1985 Certificates of Indebtedness Capital Projects 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. Equipment Fund - This fund was established to accumulate resources to be used for equipment acquisition. The fund balance was $l8.580 at December 3l. 1985. Park Fund - The Park Fund was established to account for revenue. primarily park dedication fees. to be used for the acquisition and improvement of parks. The fund balance was $13.145 at December 31. 1985. State Aid Fund - This fund was established to account for aid received from the State of Minnesota for construction of certain designated streets. The fund balance was $37.884 at December 31. 1985. II c c c c C D D C ~ C C C C 01 01 01 I 0' DI Wi I I -I -I I ~I i I -1 . 1 I . 1 1 I :; I I I I I I I I I I I Special Assessment Funds Special assessment funds, are established to account for assessments levied to finance improvements or services deemed to benefit the properties against which the assessments are levied. Primarily. the transactions accounted for in the funds are the receipt of bond proceeds or other sources of financing and disbursement of such proceeds for construction work done and the collection of assessments against benefitted property owners and disbursements of assessment collections for the payment of bonds and interest. The December 31. 1985 fund balance (deficit) of the various special assessment fun~s were as follows: Elm.!! 75-1 75-2 76-1 71-1 78-1 79-1 79-2/80-1 80-2 80-3. 4/82-7 81-1 81-2 83-2. 2A. 3 84-5. 6. 7 85 Utility 1986 Imp. Unfinanced Water Trunk Reserved for construction Reserved for debt service $299 $1.325.540 $1.325.540 $299 Unreserved undesignated .Io.tAl $ (400.959) $ (400.959) 14.729 15.028 (42.067) (42.067) (59.702) (59.702) 000.828) 000.828) (111.798) (111.798) 097.682) 097.682) (3.681) (3.681 ) (2.007.205) (2.007.205) (57.727) (57.727) (60.118) (60.118) 032.919) 032.919) (228.635) (228.635) 0.939.252) (6l3.712) (165.763) (165.763) 0.054) 0.054) 5.391 5.391 $(5.489.270) $(4.163.431) The deficits arise primarily due to the accounting treatment of assessments receivable. Generally accepted accounting principles require that assessments receivable not be reflected as revenue until collected. III Special Assessment Funds (Continued) If the assessments receivable were recorded as revenues when assessed. the fund balances (deficits) would be as follows: Reserved for Reserved for Unreserved IJm4 construction debt service undesii"natEl.d .L2.t.al 75-1 $ l4 .53 6 $ l4.536 75-2 299 $19 . 842 20.141 76-1 453.976 453.976 77-1 192.845 192.845 78-1 30.052 30.052 79-1 23.152 23.152 79-2/80-1 19,091 19.091 80-2 22.896 22.896 80-3.4/82-7 496.598 496.598 81-1 11,655 11.655 81-2 35 .923 35.923 83-2.2A.3 (72.448) (72 .448) 84-5.6.7 19,511 19.511 85 Utility $1.325.540 40 .965 l.366.505 1986 Imp. (15.800) (15.800) Unfinanced (1.054) 0.054) Water Trunk 5.391 5.391 $1.325.540 $1.289.051 $ 8.379 $ 2.622.970 Enterorise Funds Enterprise funds are established to account for the financing of self-supporting activities of governmental units which render services to the general public on a user charge basis. The Water fund was established during 1981; a condensed summary of operations for 1985 and 1984 is as follows: 1985 1984 Operating revenue Operating expense (excluding depreciation) $ 39.679 46.509 $ (6.830) 39.218 $(46.048) 98 $ 47.189 37.091 $ lO ,098 19.867 $ (9.769) (6.361) $(16.130) Depreciation Operating income (loss) Other income (expense) - Net Net loss $(45.950) IV c c c c c c c c c c o c c c c c c ~ c I I 1 I - I 'I : I 1 j I "I J ! I I I I I I I I I I I Enterprise Funds (Continued) A condensed summary of Sewer Fund operations for 1985 and 1984 ~s as follows: 1984 1985 Operating revenue. Operating expense (excluding depreciation) $136,296 105.289 $ 31.007 94.144 $(63.137) 501 Depreciation Operating loss Other income (expense) - Net Net loss $(62.636) General Fixed Assets $130.727 107.194 $ 23,533 87.671 $(64,138) 1 .534 $(62,604) This account group is used to show the general fixed assets of the City. These assets are used in the performance of the general governmental functions. As of December 31. 1985. the general fixed assets of the City amounted to $2.154,648. General Lon~-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. 1985 is as follows: Original Amount Outstanding D~cember 31. 1985. 1978 G. O. Bonds 1980 Certificates of Indebtedness 1982 Certificates of Indebtedness 1983 Certificates of Indebtedness 1984 State Aid Street Improvement Bonds 1985 Certificates of Indebtedness Long-term payable - Metropolitan Waste Control Commission Assessments on City property Equipment purchase Vacation payable - Governmental funds $430.000 40.000 150,000 30.000 510,000 100.000 43.018 10.115 V $200.000 60.000 18.000 460,000 100,000 20,527 105.214 3,053 18,086 $984.880 w c c c c c c ~ m, 01 o Cl 01 01 c c ~ ~ ~ -.; I I -I -I "I J I JI 'I J I I I I I I I I I I I I I SECTION II FINANCIAL SECTION c c C c: , Ci C C ~ C C C c 01 C! 01 C 01 m r- . I I I I. I I - I ~ 1 I ! ~ ! I J I I I ... I . . j I I I I I I I I I GMHCo GEORGE M. HANSEN COMPANY. P.A. A Professional Corporation a/Certified Public Accountants AUDITORS' OPINION Tbe City Council of Andover. Minnesota ,We have examined the general purpose financial statements of the City of Andover, Minnesota as of and for the year ended December 3l. 1985, 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. In our opinion. the general purpose financial statements referred to above present fairly the financial position of the City of Andover. Minnesota at December 31. 1985. and the results of its operations and the changes in financial position of its proprietary fund types for the year then ended. in conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding year. Our examination was made for the purpose of forming an op~n~on on the general purpose financial statements taken as a whole. Tbe combining. individual fund. account group financial statements and schedules and supplemental information listed in the table of contents are presented for purposes of additional analysis' and are not a required part of the general purpose financial statements of the City of Andover. Minnesota. Such information has been subjected to the auditing procedures applied in the examination of the general purpose financial statements and. in our opinion. is fairly stated in all material respects in relation to the general purpose financial statements taken as a whole. Our examination did not include the statistical information listed in the table of contents. ..9()~ J11. ~ C~--; P.A. May 19. 1986 1433 UTICA AVENUE SOUTH, SUITE 175 MINNEAPOLIS. MINNESOTA 55416 612/546-2566 ~ m c c C 01 CITY OF ANDOVER, MINNESOTA C011BINED BALANCE SHEET - ALL FUND TYPES AND ACCOUNT GROUPS DECE11B ER 31. 1 985 Governmental Fund Special Revenu.r- Debt Service General ASSETS Petty cash Cash and temporary investments Accrued interest receivable Taxes receivable Unremitted Delinquent Accounts receivable Prepaid expense Special assessments receivable Unremitted Delinquent Deferred Due from other funds Due from other governmental units Inventory Property and equipment - Net Amount available in debt service funds for payment of bond principal and interest Amount to be provided by future revenues $ 300 736.361 4.687 $l20,l06 826 5 ,787 29.l04 500 542 2.874 c C ~i I Cl C C ~ ~ C D ~ ~ C 1.903 Total assets $778.642 $ -0- $124.348 LIABILITIES AND FUND EOUITY Liabilities Cash deficits Accounts payable Accrued liabilities Contracts payable Due to other funds Due to other governmental units Deposits payable Deferred revenue Bonds payable Total liabilities Fund equity Contributed Invested in General Fixed Assets Retained earnings Reserved Unreserved Fund balance Reserved Unreserved Designated Undesignated Total fund equity $ 47.059 2.073 6,207 80.082 148.728 $ 2.874 $ 2.874 $284.149 $121,474 $ 10,800 483.693 $494.493 $ $778.642 $ -0- $121,474 Total liabilities and fund equity -0- $124.348 See accompanying notes to financial statements. 2 -I -I ~ I ~ 1 I I i I . "" 1 I . I I I I I I I I I I I \~ Account Groups Tvpes Proprietary General General Total Capital Special Fund Type Fixed Long-term (Memorandum Only) Projects Asses sment Enterorise Assets D~bt 1985 1984 $ 300 $ 300 $70.319 $ 7,784,182 $ 46,471 8.757,445 5,615,757 1.101 68,192 472 75,278 222.288 6.329 6.530 3l .978 34.189 38.534 39.034 51.395 6,459 12.646 l2.646 8.101 150,709 l50.709 163.625 6.635,692 2l,240 6.656.932 5.975,704 180.000 6.900 11.268 20.071 29,697 4.145 4.l45 2.701 6.521,996 $2,154.648 8.676,644 6.156.433 $121.474 121,474 112.322 863.406 863.406 923.128 $78 .320 $14.651.421 $6.644.132 $2.154.648 $984.880 $25.416.391 $19.290.8~5 $ 134,905 $ 134,905 $ 326,448 $ 8,711 60.823 $ 4,861 $105.214 226,668 121,062 2.730 18.086 20,816 14.118 34.800 3.053 39,926 49,489 180.000 20.527 26,734 23.562 206,623 286,705 259,422 6,786.401 2l.222 6,959,225 6,039.741 11.591.300 838.000 12.429,300 10.168.100 $ 8.711 $18.814.852 $ 28.813 $984 .880 $20.124.279 $17.181.942 $6,518.450 $ 6,518,450 $ 4.846.305 $2,154,648 2,154,648 l,305,933 60,518 60,518 38.045 36.351 36,351 34.698 $ 1,325,839 1,447,313 240 .854 10,800 $69.609 (5.489.270 ) (4.935.968) (4.356.962) $69.609 $(4.163.431) $6.615.319 $2.154.648 $ 5.292.112 $ 2.108.873 $78.320 $14 .651 .421 $6.644.132 $2.154.648 $984 .880 $25.416.391 $19.290.815 3 CITY OF ANDOVER. MINNESOTA cmmINED STATEHENT OF REVENUE. EXPENDITURES AND FUND BALlINCE ALL GOVERNMENTAL FUND TYPES YEAR ENDED DECEMBER 31, 1985 Revenue Taxes Licenses and permits Intergovernmental revenue Special assessments Charges for services Fines and forfeits Interest Other Park dedication fees Total revenue General $ 438.223 130.197 441,936 l6.3l8 18,330 3':-'08"1 q'7;~""'--? U2.727 $1,177,731 Other sources Bond proceeds Transfers from other funds Total revenue and other sources 42 ,937 $1.220,668 Expenditures General government Public safety Public works Sanitation Recreation Other unallocated Capital projects Debt service Total expenditures $ 302.376 409.566 186,790 17,l94 153,190 39.710 $1,108,826 Other uses Transfers to other funds Total expenditures and other uses 53 .280 $1.162.106 Increase (decrease) in fund balance $ 58,562 Fund balance (deficit) January 1 435,931 Fund balance (deficit) December 31 $ 494.493 See accompanying notes to financial statements. 4 Special Revel).ue $42.456 48l $42,937 $42.937 $42.937 $42,937 $ -0- -0- $ -0- C D ~ ~ ~ m ~ m c 01 Dl ) 01 C 0, I CI . I C! D ~, I 4 r ! I I I Total - 1 Debt Capital Special (Memorandum only) - Service Projects Assessment l2.8i 1m I $ 42.083 $ 480 ,306 X $ 474.929 130.197 ,...-- 102.472 l07,756 $220.988 813 .l36 X 699.185 ~ $ 2,253.173 2.253.173/ 1.090.895 . I 16.318/ 14.936 1 18.330/ 6,261 7,859 9.847 481.135 499,322)<' 482.236 i I 3.028 135.755 ll6.213 22.293 22.293 17.750 1 $157,698 $253,l28 $ 2.737.336 $ 4,368.830 $ 3,004.877 . I I ! 100.000 503.851 56 .980 12 .250 247.550 163.875 1 1 $214.678 $365.378 $ 2,984.886 ,/' $ 3.672.603 11 I $ 302.376 $ 252,060 409.566 323.011 186.790 127,715 I 17 .l94 3,740 153.190 145.801 39.710 30,476 $388.443 $ 1.367,743 1.756,186 1,366,512 I $204.805 760.760 965.565 780.828 $204,805 $388.443 $ 2.128,503 $ 3.830.577 $ 3.030.143 I 721 15.229 247.550 359.717 156.375 $205.526 $403.672 $ 2.376,053 $ 4.190.294 / $ 3.186.518 I $ 9.152 $(38.294) $ 608,833 $ 638.253 $ 486,085 112 .322 107.903 (4.772.264) (4.116.108) (4.602,193 ) 1 $121.474 $ 69.609 $(4.163.431) $(3.477.855) $(4.116.108) I I I I 5 CITY OF ANDOVER, MINNESOTA COMBINED STATEMENT OF REVENUE. EXPENDITURES AND FUND BALANCE, BUDGET AND ACTUAL - GENERAL AND SPECIAL REVENUE FUND TYPES YEAR ENDED DECEMBER 31. 1985 General Fund Bude-et: Actual 85,644 53.280 $1.122,839 $1.162 .106 $ (3,100) $ 58.562 435.931 435.931 $ 432.831 $ 494.493 Revenue Taxes Licenses and perm-its Intergovernmental revenue Charges for services Fines and forfeits Other $ 457,294 64,597 450.902 11 ,610 12.000 81.336 $1.017.739 Total revenue Other sources Transfers from other funds 42.000 Total revenue and other sources $1.119.739 Expenditures General government Public safety Pub lic works Sanitation Recreation Other unallocated Total expenditures $ 295.280 363.503 179,750 11 ,789 139.802 47.071 $l.037.l95 Other uses Transfers to other funds Total expenditures and other uses Increase (decrease) in fund balance Fund balance January 1 Fund balance December 31 See accompanying notes to financial statements. 6 $ 438.223 l30.197 441,936 l6.318 18.330 132.727 $1,177.731 42.937 $1.220,668 $ 302,376 409,566 186,790 17.194 153,190 39,710 $1.108,826 c c c ~ ~ ~ m m c ~ c C D' I 01 I DI P'I' iJ /i ~I I WI i - I ~ -I -I I ~ I - I I . Total Special Revenue Funds (Memorandum only) Budvet Actual Bud~et Actual $ 457.294 $ 438,223 64.597 130.197 $42.000 $42.456 492.902 484.392 11.610 16,318 l2.000 18,330 481 81 .336 133.208 $42.000 $42,937 $1.119.739 $1,220.668 42.000 42 .937 $42.000 $42.937 $1.161. 739 $1.263.605 $ 295,280 $ 302.376 363,503 409,566 179.750 186.790 11.789 17 .1 94 139.802 153.190 47.071 39.710 $1.037.195 $1.108,826 $42.000 $42.937 127.644 96.217 $42.000 $42.937 $1.164.839 ~1,205.043 $ -0- $ -0- $ (3,100) $ 58,562 -0- -0- 435.931 435,931 $ -0- $ -0- $ 432.831 $ 494.493 j I j I J 1 ~ 1 I ~ j 1 J i I I I I I I . I I I ~ I I I 7 CITY OF ANDOVER. MINNESOTA STATEHENT OF REVENUE, EXPENSE AND FUND EQUITY ALL PROPRIETARY FUND TYPES - ENTERPRISE FUNDS YEAR ENDED DECEMBER 31, 1985 Operating revenue User charges Connection charges Meters Permit fees Penalties Other Operating expense (excluding depreciation) Personal services Supplies Other services and charges Disposal charges Capital outlay Operating income before depreciation Less depreciation On assets acquired with own funds On assets acquired from contributions Operating loss Other income (expense) Interest income Interest expense Transfers to other funds Net loss Disposition of net loss Net loss Add credit from transfer to depreciation to contributions in aid to construction Income transferred to retained earnings Retained earnings. January 1 Retained earnings, December 31 See accompanying notes to financial statements. 8 Totals 1985 1984 $ 130.566 $ 120,914 27.085 39.395 lO,350 3,080 4.965 l,575 3.009 2.486 10.466 S 175.975 S 177.916 $ 31.669 $ 29,645 9.760 8.652 20.680 26 .923 78.815 79.065 10.874 $ 151 .790 $ 144.285 $ 24,177 $ 33.631 $ 650 $ 570 132.712 106.968 $ 133.362 S 107.538 $(109.185) $ (73.907) $ 3,376 $ 2.673 (2,717) (7.500) $ 599 $ (4.827) $(108.586) $ (78.734) $008.586) $ (78.734) 132.712 106.968 $ 24.126 $ 28,234 72.743 44.509 $ 96.869 $ 72.743 c c C I C C C C C ~ ~ m m m m c c c c c I I I I I I -I I I " I -I 1 I ~ I 'I 1 j j I i ) I ~ j ~ I i I , CITY OF ANDOVER. MINNESOTA STATEMENT OF CHANGES IN FINANCIAL POSITION ALL PROPRIETARY FUND TYPES - ENTERPRISE FUNDS YF..AR ENDED DECEMBER 31. 1985 Sources of working capital Operations Net loss Item not requiring working capital Depreciation Total provided by operations Decrease in other assets Contribution of property Increase in deferred revenue Uses of working capital Acquisition of property and equipment Decrease in deferred revenue Increase in working capital Elements of change in working capital Cash and temporary investments Accrued interest receivable Accounts receivable Special assessment receivable Prepaid expenses Due from other governmental units Inventory Accounts payable Accrued expenses Increase in working capital See accompanying notes to financial statements. 9 1985 $ (108.586) 133.362 $ 24.776 3.479 l.804,857 $1.833.112 $1.804.857 3.554 $1.808.411 $ 24.701 $ 36.116 (951 ) 3.762 (115) (6,459) (5,354) 1.444 (2,768) (974) $ 24.701 Totals 1984 $ (78,734) 107.538 $ 28.804 769.256 269 $ 798.329 $ 769,835 578 $ 770.413 $ 27.916 $ 8.467 1.145 19,225 (250) (808) (2.816) 4,015 0.062) $ 27.916 CITY OF ANDOVER. MINNESOTA m NOTES TO FINANCIAL STATEMENTS DECEMBER 31. 1985 c Note 1 - Summary of Si2nificant Accountin~ 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. c The financial statements included in the report cover all commissions. boards. authorities. and bodies that are dependent on or controlled by the City's executive and legislative branches. The criteria used to determine the financial reporting entity were in conformance with NCGA Statement 3. Definini the Governmental Reporting Entit~. c c The accounting policies accounting principles. policies: of the City of Andover conform to generally accepted The following is a summary of the more significant 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 self-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 six generic fund types and two broad fund categories as follows: ~ c ~ GOVERNMENTAL FUNDS ~ General Fund - The General Fund is the primary operating fund of the City. It is used to account for all financial resources except those required to be accounted for in another fund. ~ 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. ~ Debt service funds - Debt service funds are used to account for the accumulation of resources for, and the payment of. general long-term debt principal. interest and related costs. ~ 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 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: 01 10 .,. I . .. ] ~ I . . J ~ I . i ~ J I . .. I -;; ! -J! I I I ~ i I i ! I i .. I 1 I I I J t I ! i . I J I I I I I I Ji i J I I I I I I I CITY OF ANDOVER. MINNESOTA NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31. 1985 Note 1 - Summary of Siinificant Accountini Policies (Continued) A. Fund Accounting (Continued) PROPRIETARY FUNDS Enterprise funds - Enterprise funds are used to account for operations that are (1) financed and operated in a manner similar to private business enterprises--where the intent of the governing body is that the costs (expenses. including depreciation) of providing goods or services to the general public on a continuing basis be financed or recovered primarily through user charges; or (2) where the governing body has decided that periodic determination of revenues earned, expenses incurred. and/or net income is appropriate for capital maintenance. public policy. management control. accountability, or other purposes. B. Measurement Focus 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 resourceslr during a period. 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 not capitalized along with other fixed assets. No depreciation has been provided on general fixed assets. 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. The account groups are not "funds". They are concerned only with the measurement of financial position. They are not involved with measurement of results of operations. 11 CITY OF ANDOVER. MINNESOTA c NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31. 198~ ~ Note 1 - Summarv of Significant Accounting Policies (Continued) B. Measurement Focus (Continued) c All proprietary funds are accounted for on a cost of services or "capital maintenance" measurement focus. This means that all assets and all liabilities associated with their activity are included on their balance sheets. Their reported fund equity is segregated into contributed capital and retained earnings components. Proprietary fund type operating statements present increases (revenue) and decreases (expenses) in net total assets. c ~ C. Basis of Accounting m Basis of accounting refers to when revenue and expenditures/expenses are recognized in the accounts and reported in the financial statements. Basis of accounting relates to the timing of the measurement made, regardless of the measurement focus applied. ~ Governmental funds are accounted for using the modified accrual basis of accounting. Their revenues are recognized when they become measureable and available. Substantially all sources of revenue are accrued. m m Expenditures are generally recognized under the modified accrual basis of accounting when the related fund liability is incurred. except principal and interest on general long-term debt which is recognized when due. c All proprietary funds are accounted for using the accrual basis of accounting. Revenues are recognized when they are earned, and expenses are recognized when they are incurred. c D. Budgets and Budgetary Accounting c The City follows these procedures in establishing the budgetary data reflected in the financial statements: c Prior to January 1. the budget is adopted by the City Council. c Formal budgetary integration is employed as a management control device during the year for the General and Special Revenue Funds. Formal budgetary integration is not employed f or other funds. c Budgets for the General and Special Revenue Funds. are adopted on a basis consistent with generally accepted accounting principles. c Budgeted amounts are as originally adopted, or as amended. c Budget appropriations lapse at year end. w 12 r - t I CITY OF ANDOVER. MINNESOTA I II j I NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31. 1985 Note 1 - Summarv of Si~nificapt Accounting Policies (Cont~nued) E. Assets and Liabilities ! I ! .! . i I j 1 I I I I . I I 1 I i 1. Cash and temporary investments - Cash available, in excess of immediate needs, is invested temporarily in money market accounts, savings certificates and other investments authorized by State Statutes. Temporary investments are stated at cost, which approximates market. 2. Property taxes - Property tax levies are set by the City Council in October each year and are certified to the County for collection the following year. In Minnesota. counties act as collection agents for all property taxes. The County spreads the levies over all taxable property in the City. Such taxes become receivables of the City as of January 1. Property taxes are payable in equal installments by property owners to the County as follows: Personal property - February 28 and June 30 Real property - May 15 and October 15 1 I 1 ! I i 1 I j j . I I 3. ~ I - - I ~ = - 1 - - - - I - The County remits the collections to the City and other taxing districts four times year, on or before February 21, April 19, July 5, and December 4. Unpaid taxes at December 31 become liens on the respective property and are classified in the financial statements as delinquent taxes receivable. The receivable is fully offset by deferred revenue as it is not available to finance current expenditures. Taxes payable on homestead property (as defined by State Statutes) are partially reduced by a homestead credit. This credit is paid to the City by the State in lieu of taxes levied against homestead property. The State remits this credit in six equal installments in July through December each year. Assessments receivable - Special assessments are levied against the benefitted properties for the assessable costs of special assessment improvement projects in accordance with State Statutes. The City usually adopts the assessment rolls when the individual projects are complete or substantially complete. The assessments are collectible over a term of years generally consistent with the term of years of the related bond issue. Collection of annual installments (including interest) is handled by the County in the same manner as property taxes. Property owners are allowed to prepay total future installments without interest or prepayment penalties. 13 CITY OF ANDOVER. MINNESOTA ~ NOTES TO FINANCIAL STATEMENTS (CONTINUIDU. DEcm-mER 31. 1985 Delinquent - Deferred - amounts collected by Anoka County and not remitted to the City. amounts billed to property owners but not paid. assessment installments which will be billed to property owners in future years. mi I m! I Cr Note 1 - Summary of Significant Accounting Policies (Continu~d) E. Assets and Liabilities (Continued) Special assessments receivable include the following components: Unremitted - m 4. Inventory - Inventory held by the proprietary funds is stated at cost. which is lower than market on a first-in. first-out basis. The cost of inventory is recognized as an expense at the time the items are sold or used (consumption method). ml ~I 5. Fixed assets/property and equipment - Fixed assets/property and equipment 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. m Depreciation of exhaustible fixed assets used by proprietary funds is charged as expense against their operations to arrive at a net result from operations. Subsequently. depreciation on contributed property and equipment is transferred as a reduction of contributions. Accumulated depreciation is reported on proprietary fund balance sheets. Depreciation has been provided over the estimated useful lives using the straight-line method. The estimated useful lives are as follows: m ~ c Collection and distribution systems Machinery Furniture and equipment 50 years 20 years 3-15 years m 6. Accrued liabilities include unpaid vacation pay for all City employees. Expense is recognized when the liability is accrued in the proprietary fund types. The liability for the governmental funds is recorded in the General Long-term Debt Account Group. c m F. Revenue, Expenditures and Expenses 1. General property taxes - Revenue is recognized in the year collected, with amounts due from the County and received early in the following year included as revenue. This has the effect of recognizing general property taxes as revenue when cash is collected because of the unavailability of the delinquent taxes. m m 2. Special assessments - Revenue of the governmental funds is recognized in the year collected, with amounts due from the County and received early in the following year included as revenue. All delinquent assessments receivable are offset by a credit to deferred revenue. This has the effect of recognizing assessment revenue when cash is collected because of the unavailability of the delinquent assessments. c c 14 c J 1 1 I I J t I J .. I ~ I -I ~ -i l j I ! .. i " 1 J i I ~ i . :i -; 1 1 J 1 I - - I - - I I 1 I I I I 1 I CITY OF ANDOVER, MINNESOTA NOTES TO FINANCIAL STATEMENTS (CONTINUE:Q) DECEMB ER 31. 1985 Note 1 - Sum~arv of Siinificant Accountine Policies (Continued) F. Revenues. Expenditures and Expenses (Continued) 3. Interest on investments is recorded as revenue in the period earned. 4. State aids are recorded as revenue when allocations are made by a statutory formula. 5. Entitlements for General Revenue Sharing are recorded as revenue for the period of the allocation. 6. Grants - Certain grants received by the City require that eligible expenditures be made in order to earn the grant. Revenue for these grants is recorded in the period in which eligible expenditures are made. 7. Utility service charges are recognized when earned. Unbi1led utility service charges are included in receivables at year-end. 8. Interest on bonded indebtedness is recorded as an expenditure when paid in the governmental fund types and is recorded when accrued in the proprietary fund types. G. Total Columns on Combined Statements Total columns on the combined statements are captioned "memorandum only" to indicate that they are presented only to facilitate financial analysis. Date in these columns do not present financial position. results of operations. or changes in financial position in conformity with generally accepted accounting principles. Interfund eliminations have not been made in the aggregation of this data. H. Comparative Date Comparative data for the prior year has been presented to provide an understanding of changes in the City's financial position and operations. Certain 1984 amounts have been reclassified to conform to the 1985 presentation. Note 2 - Deficiency in Pledged Collateral Minnesota Law stipulates that the amount of deposits cannot exceed the F.D.I.C. insurance plus 90% of the market value of securities pledged as collateral by the bank. On December 31, 1985, the $1,000.000 deposit at First Bank Northtown was $900,000 in excess of this requirement. 15 CITY OF ANDOVER, MINNESOTA NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31. 1985 Note 3 - Expenditures in Excess of Appropriations Expenditures and other uses of the General Fund exceeded the budget by $39.267. Revenues and other sources were in excess of the budget estimate by $100,929. Expenditures and other uses of the Special Revenue Fund-Revenue Sharing Fund exceeded the budget by $937. Revenues were in excess of the budget estimate by $937. Note 4 - Fund Deficits Special Assessment Funds The December 31. 1985 fund balances (deficits) of the various special assessment funds were as follows: Fund Reserved for construction Reserved for debt service 75-1 75-2 76-1 77-l 78-1 79-l 79-2/80-1 80-2 80-3. 4/82-7 81-1 81-2 83-2. 2A. 3 84-5, 6, 7 85 Utility 1986 Imp. Unfinanced Water trunk $299 $1.325,540 $299 $1.325.540 Unreserved undesii:nated $ (400,959) 14,729 (42,067) (59.702) (100,828) (111.798) (197,682) (3.681) (2.007,205) (57,727) (60,118) (132,919) (228.635) (1.939.252) 065.763) 0.054) 5.391 $(5.489.270) Total $ (400.959) 15,028 (42.067) (59,702) 000,828) (111,798) 097,682) (3.681) (2,007.205) (57,727) (60.118) (132,919) (228,635) (613,712) (165.763) (1,054) 5,391 $(4.163.431) The deficits arise primarily due to the accounting treatment of delinquent and deferred assessments receivable. Generally accepted accounting principles require that these assessments receivable not be reflected as revenue until collected. 16 ~ C C ~ ~ C I Ci ~ ~ ~ ~ ~ C C ~ ~ C C ~ ~ I I I 1 I I ! 1 I I I 1 I i j I I J 1 I I I I . I j I = I j 1 - I 1 - I I - 1 CITY OF ANDOVER. MINNES.Ql',A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31. 1985 Note 5 - Due from Other Gover~enta1 Units The amounts due from other governmental units at December 31, 1985 ~s composed of the following: General Fund Anoka County - court fines Capital projects funds Park Fund - Park grant Enterprise Funds Sewer Fund - Metropolitan Waste Control Commission $ 1,903 6.900 11 .268 $20.071 Note 6 - Proprietarv Fund Types Property and Equipment A summary of proprietary fund types property and equipment at December 3l. 1985 follows: Water Sewer Furniture and equipment Machinery Collection and distribution systems $ 2.629 190.832 2.248.007 $2.441 .468 (99.435) $ 3.367 4,812.884 $4.816.251 (636.298) Less accumulated depreciation $2.342.043 $4.179.953 Note 7 - Changes in General Fixed Asset~ A summary of changes in general fixed assets during the year follows: Total $ 5.996 190.832 7.060.891 $7,257.719 (735,723) $6.521.92.~ Balance Balance January 1 Additions Disposals Dec~mber 31 Land and improvements $ 140,947 $670,580 $ 811.527 Buildings and improvements 564,471 17,367 581,838 Furniture and equipment 79,503 3,217 82 ,720 Machinery and automotive equipment 521.012 158.551 $0.000) 678.563 $1.305.933 $849.715 $0.000) $2.154.648 17 CITY OF ANDOVER, MINNESOTA NOTES TO FINANCIAL STATEHENTS (CONTINUEp) DECF~mER 31, 1985 Not!'! 8 - Bonds tJavable The following is a summary of bond transactions of the City for the year ended December 31, 1985: General obliiation Special assessment Total Bonds payable January 1 New bonds issued Bonds retired $877 .000 100,000 (139.000) $ 9.291.100 2.650,000 (349.800) $lO.168.l00 2.750.000 (488.800) Bonds payable December 31 $838.000 $11.591.300 $12.429.300 Bonds payable at December 31. 1985 are comprised of the following individual issues: General obligation bonds: $430,000 Improvement Bonds of 1978 due in varying annual installments through February 1, 1989; interest at 5.55% to 5.70% $200.000 $150,000 Certificates of Indebtedness due in annual installments of $30,000 through December 31, 1987; interest at 8.00% 60.000 $30.000 Certificates of Indebtedness due in annual installments of $6,000 through October 1, 1988; interest at 7.50% 18.000 $510.000 State Aid Street Bonds due in annual installments of $50,000/$60,000 through September 1. 1994; interest at 7.00% to 9.00% 460,000 $100,000 Certificates on Indebtedness due in annual installments of $20,000 through May 1, 1990; interest at 7.5% lOO.ooo $838.000 Special assessment bonds $46.000 Improvement Bonds of 1975 due September 1, 1986; interest at 6.50% $ 4.600 $1.635.000 General Obligation Improvement Bonds of 1976 due in varying annual installments through February 1, 1997; interest at 6.25% to 6.80% 1.190,000 $56,000 Improvement Bonds of 1976 due in annual installments of $2,800 through November 1, 1996; interest at 5.50% to 6.75% 30,800 $1,215.0000 General Obligation Improvement Bonds of 1977 due in varying annual installments through January 1, 2006; interest at 5.00% 1.035.000 18 ~ C ~ m ~ ~ ~ I PI, ~ L m C m ~ m m m m m o m J . 1 I i . I ~ ! . i 1 1 ~ I 1 j j j I ~ I ~ - 1 , . ~ . I I 1 3 I ; j , ~ I - - I - - > 1 - 1 - I - - - 1 - I - 1 1 I 1 CITY OF ANDOVER. MINNESOTA NOTES TO FINANCIAL STATEHENTS (CONTINUED) DECEMBER 31. 1985 Note 8 - Bonds Payable (~ontinued) Special assessment bonds (continued) $780,000 General Obligation Improvement Bonds of 1977 due in varying annual installments through February 1, 1998; interest at 5.25% to 5.50% $270,000 General Obligation Improvement Bonds of 1978 due in varying annual installments through February 1, 1999; interest at 5.50% to 6.00% $270,000 General Obligation Improvement Bonds of 1979 due in varying annual installments through February l, 1995; interest at 6.50% $430,000 General Obligation Improvement Bonds of 1980 due in varying annual installments through February 1. 1991; interest at 6.40% to 6.90% $98,000 General Obligation Bonds of 1980 due in annual installments of $4,900 through February 1, 2001; interest at 7.00% $4,365,000 General Obligation Improvement Bonds of 1980 due in varying annual installments through February 1. 2002, interest at 8.50% to 9.10% $150,000 General Obligation Improvement Bonds of 1981 due in annual installments of $15,000 through August 1, 1991; interest at 9.75% to 10.00% $175,000 General Obligation Improvements Bonds of 1981 due in annual installments of $17,500 through February 1. 1992; interest at 10.25% to 11.00% $1,015,000 General Obligation Improvement Bonds of 1983 due October 1, 1986; interest at 7.00% $300,000 General Obligation Improvement Bonds of 1985 due in varying annual installments through February 1, 2000; interest at 8.86% to 9.60% $2,350.000 General Obligation Improvement Bonds of 1985 due in varying annual installments through August 1, 2000; interest at 7.96% to 9.00% 19 $ 605,000 215.000 210,000 310.000 78.400 4.035.000 90,000 122,500 1,015,000 300.000 2.350.000 $11.591.300 CITY OF ANDOVER. MIN~mSOTA NOTES TO FINANCIAL STATEMENTS (CONTINUED) DEcmmER 31. 1985 Note 8 - Bonds payable (Continued) The annual requirements to amortize all debt outstanding as of December 31, 1985, including interest payments of $7,389.873 are as follows: Special assessment 1986 1987 1988 1989 1990 1991 - 1995 1996 - 2000 2001 - 2005 $ 2,324,736 1.226.439 l.311.802 1,309,094 1.322,580 6,088.244 4,114.295 1.036.195 $18.733.385 General oblilfation $ 210.660 205.652 169.751 149.625 92.850 257.250 $1.085.788 Total $ 2.535.396 1.432,091 1,481.553 1,458,719 l.415,430 6,345,494 4.114.295 1.036.195 $19.819.173 $12l.474 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. Note 9 - Lon~-term Payables Included in the General Long-term Debt Account Group are the following long-term pay abIes : 1. Special assessments on City property of $105,214 are payable in varying amounts at annual interest rates of 6.25% to 10.7% through 2001. 2. Installment contract of $3,053 for equipment purchase with interest at 18.57% per annum. Principal Interest Total 1986 $ 2 ,7 97 $ 323 $ 3,120 1987 256 4 260 $ 3.053 $ 327 $ 3.380 20 ~ C ~ ~ ~ ~ ~ ~ ~ ~ C C ~ ~ ~ ~ ~I ~ ~ ~ I I ~ - I I . . J I I ; 1 I . i ~ j I i I 1 i I 1 ~ I J ~ 1 1 - I = I - I I -I I I I I I CITY OF ANDOVER, MINNESOTA NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 1985 Note 9 - Long-term Payables 3. Payable of $20.527 to the Metropolitan Waste Control Commission, with interest at 5.36% per annum. Princil'al Interest Total 1986 $ 3.198 $ 1,102 $ 4.300 1987 3.370 930 4.300 1988 3,550 750 4.300 1989 3.742 558 4.300 1990 3 . 943 357 4,300 1991 2.724 148 2.872 $20.527 $ 3.845 $24.372 Note 10 - Chan2es in General Loni-term Debt Changes in General Long-term Debt during the year were: Balance January 1 Balance Additions Deletions December 31 Bonds and certificate of indebtedness $ 877.000 $100,000 $139,000 $838,000 Assessments on City property 95,160 14.200 4,146 105.214 Contracts payable Equipment purchase 5.366 2 ,3l3 3.053 Land acquisition 22,000 22.000 Due to Metropolitan Waste Control Commission 23.562 3.035 20,527 Accrued vacation pay Governmental funds 12.362 5.724 18,086 $1.035.450 $119.924 $170.494 $984 .880 Note 11 - 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 $11,370 for the year ended December 31, 1985. 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. The City also participates in the Federal Social Security (FICA) pension plan and contributed $19,796 for the year ended December 31, 1985. 21 CITY OF ANDOVER. MINNESOTA NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31. 1985 Note 12 - Se~ment Information for Enterprise Funds Segment information for the City's two enterprise funds for the year ended December 31. 1985 is as follows: Operating revenue Depreciation Operating loss Net loss Property, plant and equipment Additions Net working capital Contributions of plant and equipment Total assets Equity Contributed Retained earnings Reserved Unreserved Water Sewer Total $ 39.679 $ l36,296 $ 175.975 39,218 94.144 133,362 (46.048) (63,137) (l09,185) (45,950) (62.636) (108.586) 1.561.125 243.732 1.804.857 6.577 86.888 93.465 1.561.125 243.732 1,804.857 2,354,686 4.289,446 6,644.132 2 ,340 ,415 4,178.035 6,518,450 6,361 54.l57 60,518 1.844 34.507 36,351 Note 13 - Contin~ent Liabilities The City participates in federally assisted grant programs. principal of which is the General Revenue Sharing Grant. These programs are subject to program compliance audits by the grantors or their representatives. The Audits of these programs for or including the year ended December 31. 1985 have not been conducted. ~~cordingly, 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 agencies cannot be determined at this time although the City expects such amounts, if any. to be immaterial. 22 c w ~ ~ m ~ ~ ~ ~ ~ ~ ~ ~ C ~ ~i I Ci I 01 ~ J I II ~ I I - I ~I ~ I -I I -I 1 I 1 I I I I I I CITY OF ANDOVER. MINNESOTA GENERAL FUNj) BALANCE SHEETS DECEMBER 31. 1985 AND 1984 ASSETS Petty cash Cash and temporary investments Accrued interest receivable Taxes receivable Unremitted Delinquent Accounts rece~vable Special assessments receivable - deferred Due from other governmental units Total assets LIABILITIES AND FUND BAL/lNCE Liabilit~es Accounts payable Contracts payable c.~ ~ 'g-(,. Due to other governmental units Deposits payable Deferred revenue Total liabilities Fund balance Unreserved Undesignated Designated for I q g--(. -,/E ;>,q " . S 1:> C .1/5::>0 o. $Z() 3,'600 7~ 0 o. Q equipment Total liabilities and fund balance 23 1985 1984 $ 300 $ 300 736,361 538,094 4.687 l7,583 5.787 5.908 29,104 30,914 500 4.514 1,903 22,797 $718.642 $620,110 $ 47,059 /"It'l- ..I~ ~ 2,073 6.207 ,/ 80,082 148,728 $284,149 eA,~ i!,-<-JJ 483,693 -uJ~, ;;b=-~-'-idO.~OO (~ 494.493 ~) $718.642 $ l7.390 2,073 65,192 99,52lf $184.179 435,931 435.931 $620.110 CITY OF ANDOVER. MINNESOTA GENERAL FUND STATEHENT OF REVENUE. EXPENDITURES AN)) FUND BALANCE - BUDGET AND ACTUAL YEAR ENDED DEcmmER 31. 1985 (with comparative actual amounts for the year ended December 31. 1984) 198:> Budw-et Actual Revenue Taxes Licenses and permits Intergovernmental Charges for services Fines and forfeits Other $ 457,294 64.597 450.902 II .610 12.000 81.336 $l,077 .739 Total revenue Other sources Transfers from other funds Total revenue and other sources 42.000 $1.119.739 Expenditures General government Public safety Public works Sanitation Parks and recreation Other unal10cated Total expenditures $ 438,223 130,197 441.936 16,318 18.330 132.727 $l.177.731 42.937 $1.220,668 1984 Actual $ 430,949 l02,472 403.869 14.936 6.261 102.247 $1.060,734 40.018 $1,100.752 $ 295,280 $ 302.376 $ 252.060 363,503 409,566 323.011 l7 9 ,750 l86,790 127,715 11,789 17.194 3,740 139.802 153.190 145,801 47.071 39.710 30,476 $1.037.195 $1.108,826 $ 882.803 85 .644 53,280 74.710 ~ $1.162.106 $ 957.513 $ (3.l00) $ 58,562 $ 143,239 435.931 292,692 $ 494.493 $ 435.931 Other uses Transfers to other funds Total expenditures and other uses Increase (decrease) in fund balance Fund balance January 1 Fund balance December 31 24 c c c c c c C Ii ~I I ~i cl I I Cl C C C D C C C C I -I -I I I I -I I - I I I I I I I I I I -1 .. A CITY OF ANDOVER. MINNESOTA GENERAL FUND SCHEDULE OF REVENUE - BUDGET AND ACTUAL YEAR ENDED DECEMBER 31, 1985 (with comparative actual amounts for the year ended December 31, 1984) 1985 Budiet Act~al Taxes General property taxes Penalties and interest $ 448.294 9,000 $ 457.294 Licenses and permits Business Non-business $ 9.344 55.253 $ 64.597 Intergovernmental Local governmental aid Homestead credit CDBG State highway aid Insurance premium tax $ 194.782 222,140 20,680 13.300 $ 450 .902 Charges for services General government Public safety Utility funds $ 7.810 800 3.000 11.6l0 12.000 Fines and forfeits $ $ Other Interest on investments Reimbursement from improvement projects Administrative charges Other loIiscellaneous Refunds and reimbursements Revenue collected for other agencies Escrow $ 16.000 lO ,271 35,000 1 ,l7 5 3.500 190 15.200 $ 81.336 Total revenue $ 422.530 15.693 $ 438,223 $ 12,243 117.954 $ 130.197 $ 194,652 l88,008 23.830 20,680 14.766 $ 441.936 $ 12.043 $ 1.725' 2.550' $ 16.318 $ $ 18.330 $ 1984 Actual $ 419,Oll 11 ,938 $ 430.949 $ 11,430 91.04? $ 102,472 $ l83,757 l80,827 5,970 19.950 13.365- $ 403.869 11,286 925 2,725 14.936 6.261 $ 33.084,X' $ 35.590 11,827 Y 4,030X 1.811 9.563 y 72 ,412 X $ 132......Ill 6,538 8,485 1.189 12,579 37,146 720 $ 102,247 $1,077,739 $1,177,731 $1.060,734 Other sources Transfers from Revenue Sharing Fund Total revenue and other sources ~2.000 42.937 40.018 $1.119.739 $1.220.668 $1.100.752 25 CITY OF ANDOVER. MINNESOTA GENERAL FUND SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL YEAR ENDED DECEMBER 31, 1985 (with comparative actual amounts for the year ended December 31. 1984) 1985 1984 Bud~et Actual Actual Accounting Personal services $ 31,113 $ 25,744 $ 19.788 Supplies 230 2 ,781 634 Other services and charges 370 325 237 Capital outlay 300 1.564 169 $ 32.013 $ 30.414:,,( $ 20.828 .wI Assessing $ 14.382 y' Other services and charges $ 15,50D. $ 17.279 :vI 26 c c c c ~ c c c c c c c 'C C C C C C ~4 r ! J I I I a j I I 1 I I I i I 1 I I I 1 I I I J I i ' I I ~ 11 i 1 i , II i!! " i I I i I I "" Ii 1 I I I i I . ~I i CITY OF ANDOVER. MINNESOTA GENERAL FUND SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL (CONTINUED) YEAR ENDED DECFl,mER 31. 1985. (with comparative actual amounts for the year ended December 31. 1984) General government (continued) Consulting staff Auditing Legal Planning and zoning Personal services Supplies Other services and charges Capital outlay Other Buildings Administration building Personal services Supplies Other services and charges Capital outlay Fire department building Supplies Other services and charges Capital outlay Public works building Personal services Supplies Other services and charges Capital outlay (I(,,'1'3'5.v...- -Y1'7'f'Q ~,F- Senior citizen center Personal services Supplies Other services and charges Capital outlay Total buildings 27 1985 Budiet Actual $ 7.500 19,450 $ 26.950 $ 17,524 1.950 1.930 800 1,200 $ 23.404 $ 3,230 3,950 10.050 6.800 $ 24.030 $ 5,350 6,700 7.350 $ 19.400 $ 2,678 5,500 6 270 4:500 $ 18.948 $ 550 1,490 3.730 500 $ 6.270 $ 68,648 1984 ActJIal $ 7 .500"1X $ 7 .200 26.911~~X 19.177 $ 34,411 $ 26,377 $ 10.l39 2.062 1,184 1,435 87 $ 14,907)( $ $ 2.l43 4.894 10.163 1.098 $ l8,298X $ $ 3,926 4,837 2.220 $ 10,983 \'" $ 5,580 2 ,891 4,704 ~ $ 32.7 58X $ $ 520 1.414 1,481 60 $ 3.4751 $ $ 10,155 1,484 1.284 1.248 345 14,516 $ 3,134 3.584 9,233 1 ,443 17.394 $ 3,499 5.124 2.464 $ 11.087 $ 4,362 2.933 4.757 2.479 14.531 $ 2,923 1 .943 2.499 7.365 $ 65.51;1 L $ 50.377 i!)\ CITY OF ANDOVER. MINNESOTA GENERAL FUND SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL (CONTINUED) YEAR ENDED DECEMBER 31. 1985 (with comparative actual amounts for the year ended December 31. 1985 Bud~et Actual 28 1984) ~ ~ c m m m m mi Cl 01 I CI I Cl I CI C C C C C' 0, f 1984 Actual j ~ 1 ~ I I j I ~ 1 - i I ! 1 . i :I I 1 J I i I j ! i I I i I 1 I I i I -II 11 I 1 'i ~ 1 I CITY OF ANDOVER, MINNESOTA GENERAL FUND SCHEDULE OF EXPENDITU~ES - BUDGET AND ACTUAL (CONTINUED) YEAR ENDED DECEMBER 31. 1985 (with comparative actual amounts for the year ended December 31, 1984) 1985 Bud~et Actual 1984 Actual Public safety (continued) Animal control Personal services Supplies Other services and charges $ 60 $ l50 375 $ 285 7,000 7,363 7.096 $ 7.435 $ 7.513)( $ 7.381 $363.503 $409.566 $323.011 Total public safety Public works Streets and highways Personal services Supplies Other services and charges Capital outlay $ 40 ,317 $ 37,787 $ 27,368 15.750 25.043 15.701 11 .500 9.449 9,136 38.400 33.118 3.602 $105.967 $105.397Y $ 55.807 $ 27,137 $ 27,897 $ 20.131 23.350 29.080 29,594 6.700 8.724 5,447 500 439 88 $ 57.687 $ 66.140,{ $ 55.260 $ 9.226 $ 4,560 $ 4.948 2,l50 2.183 4,662 l20 558 59 4.000 7.252 6.208 $ 15.496 $ 14.553Y $ 15.877 $ 600 $ 7001 $ 771 $179.750 $186.7901 $127.715 Snow and ice removal Personal services Supplies Other services and charges Capital outlay Street signs Personal services Supplies Other services and charges Capital outlay Street lighting Other services and charges Total public works Sanitation Storm sewers Personal services Supplies Other services and charges Capital outlay $ 4.990 $ 9.592 $ 1,810 2,500 2,268 1,133 3,000 3.288 127 1 ,512 $ 10,490 $ 16.660/ $ 3.070 29 CITY OF ANDOVER. MINNESOTA GENERAL FUND SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL (CONTINUED) YEAR ENDED DEcm-mER 31. 1985 (with comparative actual amounts for the year ended December 31. $ 8.280 $ 8,840 37,200 7,800 18,020 39.600 8,250 $ 85.644 $ 53,280 $ 74,710 $1.122.839 $1.162...ln2. $957.513 Budll'et Sanitation (continued) Diseased trees Personal services Supplies Other services and charges Capital outlay $ 629 $ 370 200 lOO $ 1.299 $ $ 11.789 $ Total sanitation Parks and recreation Personal services Supplies Other services and charges Community education programs Assessments Capital outlay $ 33.897 $ 12.000 7.210 25.285 11,910 49.500 $ 139.802 $ Other unallocated Senior citizen center Metropolitan Waste Control Commission Workers' compensation and insurance Improvement projects Hiscellaneous Contingency $ 4,300 7,000 3.000 10,000 22.771 $ 47.071 Total expenditures $1.037.195 Other uses Transfers to other funds 1980 Certificates Fund 1982 Certificates Fund 1983 Certificates Fund 1979 Equipment Fund 1982 Equipment Fund 1983 Equipment Fund Total expenditures and other uses 30 1984) 1985 1984 Actual Actual 16l $ 513 334 102 39 55 534l( $ 670 17 .1 94 $ 3.740 34,730 $ 31.254 16.764 13.956 10,298 8.248 25.285 X 25.343 l2.853 11,360 53.260 55,640 153.190 $145,80~ $ 2 ,Z61 4,300"'" $ 4.229 10.645/ 8,394 19,583' 9,802 2,921' 8.051 $ 39.710 $ 30,476 $1,108.826 $882.803 C D C C C ~ c m m c c C 01 'C ' C C ~ 0' 0/ ,I j "I J I I . j I I I J I I I I 1 I h 1 J I I I I I I I i 1 I I I I 1 I = CITY OF ANDOVER. MINNESOTA SPECIAL REVENUE FUND - REVENUE SHARING FUND BALANCE SHEE'l'.fl DECEMBER 31. 1985 AND 1984 1985 1984 ASSETS Cash and temporary investments s -0- s -0- FUND BALANCE Fund balance Unreserved - Undesignated $ s -0- -0- STATIDIENT OF REVENUE. EXPENDITURES AND FUND BALANCE - BUDGET AND ACTUAL YEAR ENDED DECEMBER 31. 1985 (with comparative actual amounts for year ended December 31, 1984) Revenue Federal grant Interest on investments 1985 1984 Bud~et Actual Actual $ 42,000 $ 42,456 $ 39.543 481 475 S 42.000 S 42.937 $ 40,018 $ 42.000 S 42 .937 S 40.018 $ 42.000 S 42.937 S l.O ,018 S -0- $ -0- $ -0- -0- -O- S -O- S -0- Other uses Transfer to General Fund Total expenditures and other uses Increase (decrease) to fund balance Fund balance January 1 Fund balance December 31 31 THIS PAGE LEFT BLANK INTENTIONALLY 32 ~ ~ ~ m w m c ~ m c m c o! I Ci I 01 C C 0, I oi I -I - I = I I -I I cl -I ~I -I I I - I ~ I -I -I I ~ I I -I CITY OF ANDOVER, MINNESOTA DEBT SERVICE FUNDS COMBINING BALANCE SHEET DECEMBER 31. 1985 (with comparative totals for December 31, Cash and temporary investments' Accrued interest receivable Taxes receivable Unremitted Delinquent Total assets Liability Deferred revenue Fund balance - Reserved for deb t service LIABILITY AND FUND BALANCE $ 2.874 121.474 Total liability and fund balance $124.348 33 1984) $ 2,874 121.474 $124.348 $ 3,275 112,322 $115.597 CITY OF ANDOVER. MI~NESOTA DEBT SERVICE FUNDS COMBINING STATEMENT OF REVENUE. EXPENDITURES AND FUND BALANCE YEAR ENDED DECEMBER 31. 1985 (with comparative totals for year ended December 31, 1984 Revenue General property taxes State aid Homestead credit Interest on investments Other Other sources Transfers from other funds General Fund Capital project funds Total revenue and other sources Expenditures Redempt~on of bonds Interest and service charges Other uses Transfer to capital project funds Total expenditures and other uses Increase (decrease) in fund balance Fund balance January 1 Fund balance December 31 34 1978 G.O. Bonds $ 42.083 l7.531 7.735 $ 67,349 S 67.349 $ 45,000 12.600 57.600 57.600 $ 9.749 111. 725 S121.474 -- - --~ - - 1980 CE'>rtificatE'>g c c c c ~ c c c c c c ~ c c c c ~ c o $ $ 124 124 8,280 S 8.404 $ 8,000 280 8.280 72l 9.001 $ (597) 597 S -0- 01 I -I I I I I I I I I I I I I I I I I 1982 1983 1984 1985 Certificates Certificate~ State Aid Certificate~ Totals 1985 1984 $90,225 $ 42.083 $ 42.033 90 .225 17.531 19.13l 7.859 8.749 10 $157.698 $ 69.923 $90,225 $37,200 $ 7,800 53.280 8.840 $ 3,700 3.700 $37.200 $ 7.800 $90,225 $ 3.700 $214.678 $ 78,763 $30,000 $ 6,000 $50.000 $139,000 $ 48.000 7.200 1,800 40.225 $ 3.700 65.805 15.862 $37,200 $ 7,800 $90,225 $ 3.700 $204,805 $ 63.862 721 $37.200 S 7.800 $90.225 $ 3.700 $205.526 $ 63.86~ $ -0- $ -0- $ -0- $ -0- $ 9,152 $ 14.901 -O- S -o- S -0- $ -0- 112.322 97.421 $ -0- $ -0- $ -Q- $ -0- $121.474 $112.322 35 " THIS PAGE LEFT c c c c c c m m m m m m m ~ c D C C BLANK INTENTIONALLY 36 ,. i.. . ~ ---:~--.:. ~__ -0 ----=-- ~,~ h I I j I I I j I :1 I I - I I I I I I I I I 1 I CITY OF ANDOVER, MINNESOTA CAPITAL PROJECTS ~ COMBINING BALANCE SHEET DECE}ffiER 31. 1985 (with comparative totals for December 31, 1984) State Totals Equipment Park Aid 1985 1984 ASSETS Cash and temporary investments $18,418 $ 6,104 $45.797 $ 70,319 $ 91,996 Accrued interest receivable 162 l41 798 1.l0l l6,649 Due from other governmental units 6.900 6.900 6.900 Total assets S18.580 S13.145 S46.595 S 78.320 S115.545 LIABILITIES AND FUND BALANCE Liabilities Accounts payable Contracts payable Total liabilities $ 8.711 $ 8,711 $ 5,267 2,375 S 8.711 S 8.711 ~ 7.642 $18.580 $13.145 S37.884 $ 69.609 ~107.903 S18.580 ~13.145 $46.595 S 78.320 S115.545 Fund balance Unreserved - Undesignated Total liabilities and fund balance 37 CITY OF ANDOVER. MINNESOTA CAPITAL PROJECTS COMBINING STATEMENT OF REVENUE. EXPENDITURES AND FUND BA].ANCE YEAR ENDED DECm-m ER 31. 1985 (with comparative totals for year ended December 31. 1984) Revenue State aid and grants Park dedication fees Interest on investments Other Total revenue Other sources Bond proceeds Transfers from other funds General Fund Debt service funds Capital project funds Total revenue and other sources Expenditures Capital outlay Other uses - Transfers to other funds Debt service funds Capital project funds Total expenditures and other uses Increase (decrease) in fund balance Fund balance January 1 Fund balance December 31 38 1982 Equi nment ~qtli pmeJlt $ $ $ 300 $ 300 607 607 72l 10.483 $11 . 811 $ 300 $ 1.046 ~ 6.288 $ 1.046 $ 6.288 $10,765 $(5,988) 7.815 5.988 $18.580 $ -0- I ~i ~ . I ~! C '~ ~ C C D C C C C C C C C C ~ ~ ] I 1 ~ j I ~ 1 j I i I ~I I ] I :1 - 1 cl I 1 1 1 I -I ;1 ~ I \ 1983 1985 State Totals Eauimnent Equioment Park Aid 1985 1984 $220,988 $220.988 $236,642 $22.293 22.293 17,750 $ 303 $ 2.812 1.285 4,540 9,847 24.960 418 $ 303 $ 2.812 $23.578 $225,528 $253,128 $279,770 100,000 100.000 503.85l 65,780 721 1.046 11.529 S 303 S103.85/.! S23.578 S225.52t] S365.378 S849.491 $100,158 $24,570 $263,715 $388,443 $828,689 3.700 3.700 $ 4 .195 11 .529 S 4.195 S103.858 S24.570 $263.715 $403.672 $828.689 $(3.892 ) $ -0- $ (992 ) $(38,187) $(38.294) $ 20.802 3.892 14.137 76.071 107.903 87.101 S -O- S -0- S13.145 $ 37.884 S 69.609 S107.903 39 CITY OF ANDOVER. MINNE,S..o.l'A SPECIAL ASSESSMENT FUNDS COMBINING BALANCE SHEET DECEMBER 31. 1985 (with comparative totals for December 31, 1984) Improvem~nt Projects 75-1 75-2 76-1 ASSETS Cash and temporary investments Accrued interest receivable Special assessments receivable Unremitted Delinquent Deferred $ 627.792 $ 19.480 $1.168,724 5,569 l48 9.162 680 847 l,792 3,076 10.486 413.703 2.037 485,557 $1.049.536 $ 24.741 $1.674.776 Total assets LIABILITIES AND FUND BALANCE Liabilit~es Accounts payable Deposits payable Deferred revenue Bonds payable Total liabilities $ 415.495 $ 5.113 $ 496,043 1.035.000 4.600 1.220.800 $1.450.495 $ 9.713 $1.716,843 $ 299 (400.959) 14.729 $ (42.067) $ (400.959) $ 15,028 $ (42.067) $1.049.536 $ 24.741 $1.674.776 / I v' Fund balance (deficit) Reserved for debt service Unreserved - Undesignated Total fund balance Total liabilities and fund balance 40 ~ ~ ~ ~ ~ C ~ cl c ~ ~ ~ C ~ C C C I" l. c J I , I 1 1 I -I "I -I -I I I I I I I I I I I I I Improvem~nt projects 77-1 78-1 79-1 79-2/80-1 80-2 80-3, 4/82-7 $540.916 $ 113,054 $ 97,482 $ 111.001 $ 73.935 $ 2,045.686 4.038 86l 720 734 558 l5.875 344 257 583 226 8.670 650 293 3.446 3.9l9 212 110.769 251.897 130.587 131.504 212.854 26.365 2.393.034 $797.845 $ 245.052 $ 233.152 $ 329.091 $101.296 $ 4.574.034 $252,547 605.000 $857.547 $ 581 41,855 2,503.803 4,035,000 $ 6.581,239 $ 130.880 215.000 $ 345.880 $ l34.950 210.000 $ 344.950 $ 216,773 310.000 $ 526.773 $ 26,577 78.400 $104,977 $(59.702) $000.828) $011.798) $097.682) $ (3,681) $(2,007.205) $(59.702) $000.828) ($111.798) $097.682) $ (3.681) $(2.007,205) $797.845 $ 245.052 $ 233.152 $ 329,091 $101.296 $ 4.574.034 V J vi tI / / 41 CITY OF ANDOVER. MINNESOTA SPECIAL ASSESSMENT FUNDS COMBINING BALANCE SHEET (CONTINUED) DECEMBER 31. 1985 (with comparative totals for December 31, 1984) $1,020.322 7.835 c ~ C C C C C C C C C C C C c m m c CJ Improvement Projects 81-1 81-2 83-2. 2A. 3 ASSETS Cash and temporary investments Accrued interest receivable Special assessments receivable Unremitted Delinquent Deferred Due from other funds $ 32.054 219 4.117 65.265 Total assets $101.655 LIABILITIES AND FUND BALANCE Liabilities Cash deficit Accounts payable Contracts payable Due to other funds Deposits payable Deferred revenue Bonds payable Total liabilities $ 69,382 90.000 $159.382 Fund balance (deficit) Reserved for construction Reserved for debt service Unreserved - Undesignated Total fund balance $( 57.721) $(57.727) Total liabilities and fund balance $101.655 42 $ 61,944 438 6,922 89.119 $158.423 $ 96,041 122.500 ~218.5lf1 $(60.118) ~(60.118) $158.423 60,471 $1.088.628 ,#1 $ 141,076/ 60.471 1.015.000 $1.221.547 $ (132.919) $ (132.919) ~1.088.628 ~ I i I 1 I - I - I -I ~ I 3 I . I -I I -I I ~I ! I ;1 jl ] I Improvement Projects Water Totflls 84-5. 6. 7 85 Utility 1986 Imp Unfinanced, trunk 1985 1984 $ 79.614 $ l.787.712 $4.466 $ 7.784.182 $ 4,868,042 712 20.327 $ 71 925 68,192 18l.920 l.039 12.646 8,101 5.027 150,709 163.625 243.119 1.980,217 149,963 6.635,692 5,946,356 180.000 S 329.511 $ 3.788.256 $ 150.034 $ -0- $5.391 $14.651.421 $11.348.044 $ 133,85l $ 1,054 $ 134,905 $ 326,l71 $ 35.177 25.065 60.823 1.152 29.882 4.918 34.800 l7,675 10,000/ l80 .000 $ 6.692 2,000 206,623 194.230 248,146 1~980;217 149,963 6.786.401 6.109,980 300.000 2.350.000 11.591.300 9,291,100 $ 558.146 $ 4.401.968 $ 315.797 $ 1.054 $18.814.852 $16.120.308 $ 1.325,540 $ l,325,540 $ 46,569 299 11.028 $(228.635) 0.939.252) $065.763) $( 1.054) $5.391 (5.489.270) (4.829,861) $(228.635) $ (613.712) $065.763) $0.054) $5.391 $(4.163.431) $(4,772.264) $ 329.511 $ 3.788.256 $ 150.034 $ -0- $5.391 $14,651.421 $11.348,044 43 CITY OF ANDOVER, MINNESOTA SPECIAL &qSESSMENT FUNDS COMBINING STATIDIENT OF REVENUE. EXPENDITURES AND FUND BALANCE YEAR ENDED DECEMBER ;n. 1985 (with comparative totals for year ended December 31, 1984) Revenue General property taxes Special assessments Unit connect10n charges Interest Other Improvement Projects 75-1 75-2 76-1 $ 51.261 $ 3.073 $ 123.668 47.986 1.525 78.929 3.028 $ 99.247 $ 4,598 $ 205.625 Total revenue Other sources Transfers from assessment funds Total revenue and other sources $ 99.247 $ 4.598 $ 205.625 Expenditures Construction costs Reimbursements to other funds Interest and fiscal charges Total expenditures 53,000 $ 53,000 598 598 83.087 $ 83.087 $ Other uses Transfers to assessment funds Total expenditures and other uses $ 53,000 $ 598 $ 83.087 $ 46,247 $ 4,000 $ 122,538 (447.206) 11.028 064.605) $(400.959) $ 15.028 $ (42.067) Increase (decrease) in fund balance Fund balance (deficit) January 1 Fund balance (deficit) December 31 44 c ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ C C j ~ I -I I ~ I - I - I -I I -I I I -I I I I I I I I Improvement Projects 77-1 78-1 79-1 79-2/80-1 80-2 80-3. 4/82-7 81-1 $ 68.541 $ 23,623 $ 26,249 $ 80.579 $ 11,903 $ 544,108 $ 15.976 36,449 6,958 5.525 4.145 4,782 149.839 2,388 $ 104.990 $ 30,581 $ 3l,174 $ 84,724 $ 16,685 $ 693,947 $ 18,364 $ 104.990 $ 30,581 $ 31.174 $ 84 .724 $ 16,285 $ 693.947 $ 18.364 $ 84,783 9,l66 $ 33.064 $ 12.179 $ 14 .188 $ 21.833 $ 5.660 374.946 $ 10,425 $ 33,064 $ 12,179 $ 14,188 $ 21,833 $ 5,660 $ 468,895 $ 10,425 135.675 $ 33.064 $ 12.779 $ 14.188 $ 21,833 $ 5.660 $ 604.570 $ 10,425 $ 71,926 $ 17.802 $ 17,586 $ 62,891 $ 11.025 $ 89,317 $ 7 .93 9 (131,628) 018.630) 029.384) (260.573) 04,7Q6) (2,096,582) (65.666) $ (59.702) $000.828) $011.798) $(197.682) $ (3.681) $(2,007.205) $( 57,727) 45 CITY OF ANDOVER. MINNESOTA SPECIAL ASSESSMENT FUNDS CmffiINING STATEMENT OF REVENUE. EXPENDITU~ES AND FUND BALANCE (CONTINUED) YEAR ENDED DECEMBER 31. 1985 (with comparative totals for year ended December 31, 1984) Improvement Projects 81-2 83-2,2A.3 83-5.6.8 Revenue General property taxes Special assessments Unit connection charges Interest Other $ 32.936 $ 710,042 3,414 52,423 $ 36,350 $ 822,465 $ 134.574 $ 36.350 $ 822,465 $ 134.574 $ 13,915 38,600 ~ 14.547 71.626 $ 14,547 $ 124,141 Total revenue Other sources Transfers from assessment funds Total revenue and other sources Expenditures Construction costs Reimbursements to other funds Interest and fiscal charges Total expenditures Other uses Transfers to assessment funds Total expenditures and other uses $ 14.547 $ 124.141 $ 21,803 $ 698,324 $ 134,574 (81.921) (831.243) (134.574) $(60.118) $(132.919) $ -0- Increase (decrease) in fund balance Fund balance (deficit) January 1 Fund balance (deficit) December 31 46 c c c c c c c c c c ~ c c c c c c c r .. 1 1 I J J 1 I 1 I -I ~I ~ I ~ I - I -I I I I I j I - I I I -I I Improvement Projects 84-5.6.7 85 Utility 1986 Imp. Unfinanced ~ ~.o ~~^~I l.,., 'bJ?~ $ 81,787 $ <2:.35.1 9 $ 14,070 5.564 75.549 198 $ 87,351 $ 410.748 $ l4.268 ~~ $ :~~:ii~s 14.26.-~ $ 48.619 $ 2,656 29.466 $ 80.741 $ 974,396 l4,523 35.541 1.024,460 $ 173.591 6 ,440 $ 180,031 $ 1,054 Water trunk Totals 1985 1984 ~~$ 2,183,015 $ $ 70.158 70.158 5,461 481,135 3.028 $ 75,6l9 $ 2,737,336 1.947 1,090,895 448.052 13.5.3.8 $ 1.554,432 247.550 49,147 $ 75.619 $ 2.984,a86 $ 1.603.579 $ 1,296 ,358 71,385 760.760 $ 2,128,503 $ 530.323 11.484 705.4.132 $ 1.247,289 247.550 49.Jll $ 80.741 $ 1.024.460 $ 180.031 $ 1.054 $111.875 $ 2.376.053 $ 1.296.436 $ 119.586 $ (613,712) $(165,763) $(1.054) $(36,256) $ 608,833 $ 307,143 (348.221) -0- -0- -0- 41.647 (4.772.264) (5,079,407) $(228.635) $ (613.712) $065.763) $(1.054) $ 5.391 $(4.163.431) $(4.772.264) 47 CITY OF ANDOVER. MlJiI'NESOTA ALL PROPRIETARY FUND TYPES - ENTERPRISE FUNDS COMBINlNG BALANCE SHEET DECEMBER 31, 1985 (with comparative totals for December 31, 1984) ASSETS Current assets Cash and temporary investments $ Accrued interest receivable Accounts receivable Prepaid expense Special assessments receivable Due from other governmental units Inventory Total current assets $ Property and equipment Furniture and equipment Machinery Collection and distribution systems Less accumulated depreciation Property and equipment-Net Other asset Special assessments receivable Total assets L lAB IL ITIES A.'ID FUND EOUlTY Current liabilities Cash deficit Accounts payable Accrued expenses Total current liabilities Other liability Deferred revenue - connection charges Fund equity Contributed Retained earnings Reserved for equipment $ Reserved for system improvements Unreserved - Undesignated Total fund equity Total liabilities and fund equity Water 3,510 49 4,939 4.145 12.643 $ 2,629 190.832 2.248.007 $2,441,468 (99.425) $2.342.043 $2.354.686 42,967 $ 46,477 $ 10,638 423 472 l,423 33.595 38.534 51.395 6.459 160 160 275 l1,268,x 11,268 16.622 2.701 4.145 88.413 $ 101.056 ~ 72.891, Sewer $ $ $ 3,367 4.812.884 $4,816.251 (636.298) $4.179.953 $ 21.080 $4.289.446 1985 $ 5,996 190,832 7.060.891 $7,257.719 (735.723) $6.521.996 $ 21.080 Totals 1984 c c c c c c c c c c c c c c c c C C1 C $6.644.132 $4.947,950 $ 5,995 190,832 5.256,034 $5,452,861 (602.361) $4.850.500 ~ 24.559 $ 277 $ 4.676 $ 185 $ 4.861 2.093 1. 3 90 1.340 2.730 1. 756 $ 6.066 $ 1.525 $ 7.591 $ 4.126 $2.340.415 6.361 1. 844 $ 8.205 $2.348.620 $2.354.686 48 $ 21.222 $4.178,035 $ 54,157 34.507 $ 88.664 $4.266.699 ~4 .289 .446 $ 21.222 $ 24,776 $6.518,450 $ 6,361 54,157 36.351 $ 96.869 $6.615,319 $4.846.305 $ 5,800 32,245 34.698 $ 72.743 $4.919,048 ~6.644.132 $4.947,95Q I I I I I I I I I I I I I I I I I I I CITY OF ANDOVER. MINNESOTA ALL PROPRIETARY FVRP TYPES - ENTERPRISE FUNDS COMBINING STATEHENT OF REVENUE. EXPENSE AND RETAINED EARNINGS YEAR ENDED DECEMB ER 31, 1985 (with comparative totals for year ended December 31, 1984) Operating revenue User charges ConnectLon charges Meters Permit fees Penalties Other Operating expense (excluding depreciation) Personal services Supplies Heters. etc. Other services and charges Disposal charges Operating income (loss) before depreciation Less depreciation On assets acquired with own funds On assets acquired from contributions Operating loss Other income (expense) Interest income Interest expense Transfers to other funds Net loss Disposition of net loss Net loss Add credit from transfer of depreciation to contributions in and to construction Income (loss) transferred to retained earnings Retained earnings January 1 Retained earnings December 31 Water $ 23,108 788 10,350 4.965 468 $ 39.679 $ 19,551 6,109 10,874 9,975 $ 46.509/ $ (6.830) $ 326 38.892 $ 39.218 Sewer $107 .458 26,297 2.541 $136,296 $ 12.118 3,651 10,705 78.815 ~l05,289 $ 31.007 $ 324 93.820 $ 94,144 Totals 1985 1984 $ 130.566 27.085 lO.350 4,965 3.009 $ 175.975 $ 31,669 9,760 10.874 20.680 78.815 $ 151.798 $ 24.177 $ 650 132 .712 $ 133.362 $120,914 39,395 3.080 l.575 2,486 10,466 $117 ,916 $ 29,645 8,652 3 .850 23,073 79.065 $144,285 $ 33.631 $ 570 106.968 $107.538 $(46.048) $(63,137) $(109,185) $(73.907) $ 181 (83) $ 98 $ 3.195 (2,694) $ 501 $ 3,376 (2.777) $ 599 $ 2.673 (7.500) $ (4.827) $(45.95Q) $(62,636) $(108,586) $(78.734) $(45.950) $(62.636) $(l08.586) $(78,734) 38,892 93.820 132.712 106,968 $ (7,058) $ 31,184 $ 24,126 $ 28,234 $ 8.205 15.263 57.480 72.743 44.509 49 $ 88.664 $ 96.869 $ 72.743 CITY OF ANDOVER. MINNESOTA ALL PROPRIETARY FUND TYPES - ENTERPRISE FUNDS COMBINING STATEHENT OF CHANGES IN FINANCIAL POSITION YEAR ENDED DECEMBER 31. 1985 (with comparative totals for year ended December 31, 1984) Water Sewer Tota1s 1985 1984 Sources of working capital Operations Net loss Item not requiring working capital - Depreciation $ (45,950) $(62,636) $ (108.586) $(78,734) 39.218 94.144 133.362 107.538 $ (6.732) $ 31,508 $ 24,776 $ 28.804 3.479 3,479 1.561.125 243.732 1 .804 .857 769.525 $1.554.393 $278.719 $1,833.112 $798,329 Decrease in other assets Contribution of property Uses of working capital Acquisition of property and equipment Decrease in deferred revenue $1,561,125 $243,732 3.554 ~247.286 $1,804,857 3.554 $1.808.411 $769,835 578 $770.413 $1.561.125 Increase (decrease) in working capital $ (6.732) $ 31.433 $ 24.701 $ 27,916 Elements of change in working capital Cash and temporary investments $ (7,128) $ 43.244 $ 36,116 $ 8,467 Accrued interest receivable (596) (355) (951 ) l.145 Accounts receivable 2,702 1,060 3.762 19.225 Special assessment receivable (115) (115) (250) Prepaid expense (6,459) (6,459) (808) Due from other governmental units (5,354) (5,354) Inventory 1,444 1,444 (2,816) Accounts payable (2.583) (185 ) (2,768) 4,015 Accrued expenses ( 571 ) (403) (974) (1.062) Increase (decrease) in working capital $ (6.732) $ 31.433 $ 24,701 $ 27.916 50 - - --.--- - -- c c c c c ~ E ; ~ E m D C D C C C C C ..l I - - - I - ~ - I - I I I I I I I I I I I I I I I I CITY OF ANDOVER. MINNESQIA WATER FUND BALANCE SHEETS DECEMBER 31. 1985 AND 1984 ASSETS Current assets Cash and temporary investments Accrued interest receivable Accounts receivable Inventory Total current assets Property and equipment Furniture and equipment Machinery Distribution system Less accumulated depreciation Property and equipment - Net Total assets I.IABILITIES AND FUND EQUITY Current liabilities Accounts payable Accrued expenses Total current liabilities Fund equity Contributed Retained earnings Reserved for equipment Unreserved - Undesignated Total fund equity Total liabilities and fund equity 51 1985 $ 3,510 49 4,939 4.145 12.643 $ $ 2.629 190,832 2.248,007 $2.441.468 (99.425) $2.342.043 $2.354.686 $ 4,676 1. 3 90 6.066 $ $2.340.415 $ 6,361 1. 844 $ 8.205 $2.348.620 $2.354.686 1984 $ 10.638 645 2.237 2.701 $ 16.221 $ 2,629 190,832 686.882 $880 ,343 (60.207) $820.136 $836.357 $ 2,093 819 $ 2 .912 $818.182 $ 5,800 9.463 $ 15.263 $833.445 $836.357 CITY OF ANDOVER. MINNESOTA $ (6.830) $ 10.098 $ 326 $ 245 38.892 19.622 $ 39.218 $ 19.867 $(46,048) $ (9.769) $ 181 $ 1,139 83 (7.500) $ 98 $ (6.361) $(45.950) $(16.13Q) $(45,950) $06,130) 38.892 19.622 $ (7,058) $ 3.492 15.263 11.771 $ 8.205 $ 15.36;l ~ C ~ C ~ ~ ~ ~ C ~ C C C ~ C I:J U U C WATER FUND STATEHENTS OF REVENUE. EXPENSE AND RETAINED EARNINGS YEARS ENDED DECEMBER 31. 1985 AND 1984 Operating income (loss) before depreciation Less depreciation On assets acquired with own funds On assets acquired from contributions Operating loss Other income (expense) Interest income Interest expense Transfer to special assessment funds Net loss Disposition of net loss Net loss Add credit from transfer of depreciation to contribut~ons in aid to construction Income (loss) transferred to retained . earnings Retained earnings January 1 Retained earnings December 31 52 CITY OF ANDOVER. MINNESOT;\ WATER FUND STATEMENTS OF CHANGES IN FINANCIAL POSITION YEARS ENDED DECEMBER 31,1985 AND 1984 1985 1984 Sources of working capital Operations Net loss Item not requiring working capital Depreciation $ (45.950) $(16.130) 39.218 $ (6,732) 19.867 $ 3,737 Contribut~on of property 1.561.125 $1.554.393 365.170 $369,5P7 Uses of working capital Acquisition of property and equipment $1.561.125 $366.349 Increase (decrease) in working capital $ (6.732) $ 3,158 Elements of change in working capital Cash and temporary investments $ (7.128) $ 4.154 Accrued interest receivable (596) 545 Accounts receivable 2.702 346 Inventory 1,444 (2.816) Accounts payable (2,583) 1,588 Accrued expenses (571 ) (659) Increase (decrease) in working capital $ (6.732) $ 3.158 53 . CITY OF ANDOVER. MINNESOTA ~EWER FUND BALANCE SHEETS DECmffiER 31. 1985 AND 1984 ASSETS Current assets Cash and temporary investments Accrued interest receivable Accounts receivable Prepaid expense Due from other governmental units Special assessments receivable Total current assets Property and equipment Furniture and equipment Collection system Less accumulated depreciation Property and equipment - Net Other asset - less current portion above Special assessments receivable Total assets LIABILITIES AND FUND EOUITY Current liabilities Cash deficit Accounts payable Accrued expenses Total current liabilities Other liability Deferred revenue - Connection charges Fund equity Contributed Retained earnings Reserved for system improvements Unreserved - Undesignated Total fund equity Total liabilities and fund equity 54 1985 1984 $ 42,967 423 33.595 $ 778 32,535 6.459 16.622 275 $ 56.669 ll.268 160 $ 88.413 $ 3,367 4.812.884 $4.816.251 (636.298) $4.179.953 $ 3,367 4.569.152 $4,572,519 (542.154) $4.030.365 $ 21.080 $ 24,559 $4.289.446 $4.111.593 $ 185 $ 277 1,340 937 $ 1.525 $ 1.214 $ 21.222 $ 24.776 $4.178.035 $4.028.123 $ 54,157 $ 32,245 34,507 25.235 $ 88.664 $ 57.480 $4.266.699 $4.085.603 $4.289.446 $4.111.593 01 C C ~ m m c c c c c c m ~ c c c c o I I I I 1 I - - I - I I I I I I I I I I I I I CITY OF ANDOVER. MINNESOTA SEWER FUN~ STATEMENTS OF REVENUE. EXPENSE AND RETAINED EARNINGS YEARS ENDED DECEMBER 31. 1985 AND 1984 1985 1984 Operating revenue User charges Connection charges Penalties Other $l07.458 26.297 2.541 $l07.886 lO,239 2,l86 10.416 $130.727 UL Operating ~ (excluding depreciation) Personal services Supplies Other services and charges Disposal charges $136.296 $ 12,118 3.651 10,705 78,815 $105.289 $ 11.387 2.007 14,735 79.065 $107.194 Operating income before depreciation $ 31.007 $ 23.533 Less depreciation On assets acquired with own funds On assets acquired from contributions $ 324 $ 325 93.820 87.346 $ 94.144 $ 87,671 $(63,137) $(64.138) $ 3,195 $ l.534 (2.694) $ 501 $ 1.534 $(62.636) $(62.604) $(62,636) $(62,604) 93.820 87.346 $ 31,184 $ 24,742 57.480 32.738 $ 88.664 $ 57.480 Operating loss Other income (expense) Interest income Interest expense Net loss Disposition of net income (loss) Net income (loss) Add credit from transfer of depreciation to contribut~on in aid to construction Income transferred to retained earnings Retained earnings January 1 Retained earnings December 31 55 CITY OF ANDOVER. MINNESOTA SEWER FUND STATEMENTS OF CHANGES IN FINANCIAL POSITION YEARS ENDED DECEMBER 31. 1985 AND 1984 1985 Sources of working capital Operations Net loss Item not requiring working capital Depreciation $(62.636) 94.144 $ 31,508 Decrease in other assets Contribut10n of property 3,479 243.732 $278.719 Uses of working capital Acquisition of property and equipment Increase in other assets Decrease in deferred revenue $243,732 3.554 $247.286 Increase in working capital $ 31.433 Elements of change in working capital Cash and temporary investments Accrued interest receivable Accounts receivable Special assessment receivable Prepaid expense Due from other governmental units Accounts payable Accrued expenses $ 43.244 $ 4,313 (355) 600 1.060 14,455 (115 ) (250 ) (6.459) (808) (5,354) (185 ) 2,427 (403 ) (403) $ 31.433 $ 20.334 Increase in working capital 56 1984 $(62,604) 87.671 $ 25.067 403 .4486 $428.553 $403,486 4,155 578 $408.219 $ 20.334 c C' I 01 m c c c c c c c m m D C C C C E I I I I -I -I I I I I I I I I I I I I I CITY OF ANDOVER. MINNESOTA STATEMENTS OF GENERAL FIXED ASSETS DECEMBER 31. 1985 AND 1984 General Fixed Assets Land and improvements Buildings and improvements Furniture and equipment Machinery and automotive equipment Total General Fixed Assets Investment in General Fixed Assets 57 1985 $ 811.527 581.838 82.720 678.563 $2.154.648 $2.154.648 1984 $ 140.947 564.471 79.503 .$21.012 $1.305.933 $1 .305.933 CITY OF ANDOVER, MINNESOTA STATEMENTS OF GENERAL LONG-TERM DEll DECEMBER 31. 1985 AND 1984 Amount available and to be provided for payment of general long-term debt Amount available in debt service funds Resources to be provided by future revenues Total General long-term debt payable Bonds and Certificates of Indebtedness G.O. Improvement (Building and Equipment) Bonds of 1978 1980 Certificates of Indebtedness 1982 Certificates of Indebtedness 1983 Certificates of Indebtedness 1984 State Aid Street Bonds 1985 Certificates of lndebtedness Accounts payable - Assessments on City property Contracts payable Equipment purchase Land acquisition Due to other governmental units Metropolitan Waste Control Commission Accrued liability - Vacation pay - Governmental Total 58 1985 1984 $121,474 863.406 $ 126,125 909.325 $984.880 $1.035.450 $200,000 $ 245,000 8.000 60,000 90,000 18,000 24,000 460,000 510,000 100.000 $838,000 $ 871,000 105.214 95,160 3,053 5.366 22,000 20,527 23,562 funds 18.086 12.362 $984.880 $1 .035.450 I oj I Ci ~ m m ~ ~ ~ c e c ; m ~ c c c c ,~ I I I I .. I i j - ~ 1 I - - I - - I I I I I I I I I I I I I CITY OF ANDOVER. MINNESOTA SCHEDULE OF CASH. TEMPORARY INVESTMENTS AND SECURITY FOR DEPOSITS DECEMBER 31. 1985 First National Bank of Anoka Checking account Savings account Money market account Certificates of deposit First Bank of Northtown Certificates of deposit $ 175 104.714 217.651 7.300.000 $7.622.540 l.OOO.OOO $8.622.540 Face amount as securities pledged as collateral bv depository $9.925.000 $ -0- Additional security of $100.000 each for demand deposits and time deposits is provided by the Federal Deposit Insurance Corporation. Summary cash balances Cash and temporary investments Cash deficits $8.757.445 1134.905) $8.622.540 Minnesota Law stipulates that the amount of deposits cannot exceed the F.D.I.C. insurance plus 90% of the market value of securities pledged as collateral by the bank. On December 31. 1985. the deposit at First Bank Northtown was in excess of this requirement. 59 CITY OF ANDOVER. MINNESOTA COMBINED SCHEDULE OF INDEBTEDNESS DECEMBER 31. 1985 Bonded indebtedness Special assessment bonds Improvement Bonds of 1975 General Obligation Improvement Bonds of 1976 Improvement Bonds of 1976 General Obligation Improvement Bonds of 1977 General Obligation Improvement Bonds of 1977 General Obligation Improvement Bonds of 1978 General Obligation Improvement Bonds of 1979 General Obligation Improvement Bonds of 1980 General Obligation Improvement Bonds of 1980 General Obligation Improvement Bonds of 1980 General Obligation Improvement Bonds of 1981 General Obligation Improvement Bonds of 1981 General Obligation Improvement Bonds of 1982 General Obligation Improvement Bonds of 1985 General Obligation Improvement Bonds of 1985 General obligation bonds General Obligation Improvement Bonds of 1978 (building and equipment) 1980 Certificates of Indebtedness 1981 Certificates of Indebtedness 1983 Certificates of Indebtedness General Obligation State Aid Street Bonds of 1984 1985 Certificates of Indebtedness Total Bonded Indebtedness Long-term pay abIes Metropolitan Waste Control Commission Special assessments on City owned property Land acquisition Equipment purchase Total Indebtedness 60 Interest rates 6.25-6.50% 6.20-6.80 5.00-6.75 5.00 5.25-5.50 5.25-6.00 6.50 6.10-6.90 7.00 8.50-9.10 9.75-10.00 10.25-11.50 7.00 8.86-9.60 7.96-9.00 5.55-5.70 7.00 8.00 6.75-9.00 6.75-9.00 7.50 5.369 6.25-10.70 9.00 18.57 Issue date 09/01/75 08/01/76 11/01/76 03/01/71 10/01/77 11/01/78 11/01/79 06/01/80 08/01/80 10/01/80 07/01/81 10/01/81 10/01/83 08/01/85 08/01/85 11/01/78 10/01/80 12/31/81 10/01/83 09/01/84 11/01/85 1971 Various 1983 1982 Final maturity date 09/01/86 02/0l/97 11/01/96 01/01/96 02/01/99 02/01/99 02/01/95 02/01/91 02/01/01 02/01/02 08/0l/91 02/01/92 10/01/86 02/01/00 08/01/00 02/01/89 04/01/85 12/31/87 10/01/88 09/01/94 05/01/90 1991 2001 1985 1987 01 \ fII!' i.J m c m ~ c c c ~ c c m w ~ w [J D D a I Indebtedness Due in 1986 Authorized I and issued Redeemed Outstandini Princ ipal Interest I $ 46,000 $ 4l .400 $ 4,600 $ 4.600 $ 299 1.635.000 445.000 1.190,000 75.000 76.344 56,000 25,200 30.800 2,800 l.974 I 1,215.000 180,000 1,035.000 30.000 51 .750 J I 780.000 175,000 605.000 35.000 31.311 270.000 55.000 2l5.000 lO.OOO 12.213 co ~ J I 270.000 60.000 2l0,OOO l5.000 13.163 jj 430.000 120.000 310,000 40.000 19.420 J I J 98.000 19.600 78.400 4.900 5,3l7 - I 4.365.000 330.000 4,035,000 l30,OOO 348.015 i l50.000 60,000 90 .000 l5.000 8.963 - I 175.000 52.500 122,500 17,500 11.988 - 1.015.000 1.0l5,OOO 1,015.000 71.050 ~ I 300,000 300.000 l5,OOO 25,969 - I 2,350,000 2.350,000 50,000 187,160 $13.155.000 $1.563.700 $l1.591.300 $1.459.800 $864.936 I $ 430.000 $ 230.000 $ 200.000 $ 45.000 $ 9,985 40,000 40,000 l50.000 90.000 60.000 30.000 4.800 I 30,000 12,000 18.000 6.000 1.350 510,000 50.000 460.000 50.000 36.850 I 100.000 100.000 20.000 6.675 $ 1.260.000 $ 422.000 $ 838,000 $ 151.000 $ 59,660 I $14.415.000 $1.985.700 $12.429.300 $1.610.800 $924.596 $ 43 ,018 $ 22,491 $ 20.527 $ 3.198 $ 1,102 I 111.653 6,439 105.214 9.345 7.663 44,000 44.000 10.115 7.062 3.053 3.037 343 I $ 208.786 $ 79.992 $ 128.794 $ l5,580 $ 9.108 $14.623.786 $2 .065.692 $12.558.094 ~1.626 .380 $933.704 I 61 62 I ~i .... ' I, C~ i 01 01 C c m EJ ~ ~ ~ C C C C C C C C CITY OF ANDOVER. MINNESOTA SCHEDULE OF BONDS PAYABLE DECEMBER 31. 1985 64 D C C C c m ~ ~ C ~ C C c m ~ c c c c pTY OF ANDOVER. MINNESOTA SCHEDULE OF BONDS PAYABLE (CONTINUED) DECEMBER 31. 1985 I I I I I -I i I J I ~ I I I I I I I I I I I I CITY OF ANDOVER. MJ:NNESOTA SCHEDULE OF BONDS PAYABLE (CONTINUEP) DECEMBER 31. 1985 Annual Issue Maturity J:nterest serial date date rate paymli!nts Special assessment bonds (continued) General Obligation Improvement Bonds of 1985 08/01/85 $15.000 per year 02/01/86-90 8.86% $ 75,000 $20.000 per year 02/01/91-95 9.07 100,000 $25,000 per year 02/01/96-00 9.60 125.000 $ 300.000 General Obligation Improvement Bonds of 1985 08/01/85 $50.000 per year 08/01/86-87 7.96 $ 100,000 August l, 1988 08/01/88 8.04 135,000 August 1. 1989 08/01/89 8.13 150,000 $170.000 per year 08/0l/90-91 8.21 340,000 August 1. 1992 08/0l/92 8.39 180,000 August 1. 1993 08/01/93 8.47 190,000 $220,000 per year 08/01/94-95 8.54 440,000 $180,000 per year 08/01/96-97 8.74 360,000 August 1. 1998 08/01/98 8.93 l65,OOO August 1. 1999 08/01/99 9.00 160,000 August 1, 2000 08/01/00 9.00 130,OOQ $ 2.350,000 Total special assessment bonds $11.591,300 65 CITY OF ANDOVER. MINNESOTA SCHEDULE OF BONDS PAYABLE (CONTINUED) DECEMBER 31. 1985 Issue date General obligation bonds General Obligation Improvement Bonds of 1978 (building and equipment) 11/01/78 February l. 1986 February 1. 1987 February l. 1988 February 1. 1989 1982 Certificates of Indebtedness $30.000 per year 12/31/82 1983 Certificates of Indebtedness $6,000 per year 10/01/83 General Obligation State Aid Street Bonds of 1984 September 1. 1986 September 1, 1987 September 1, 1988 September 1, 1989 September 1. 1990 September 1. 1991 September 1. 1992 September l, 1993 September 1. 1994 1985 Certificates of Indebtedness $20.000 per year 08/01/85 Total general obligation bonds Total bonds payable Maturity date 02/01/86 02/01/87 02/01/88 02/01/89 12/31/86-87 10/01/86-88 09/01/86 09/01/87 09/01/88 09/01/89 09/01/90 09/01/91 09/01/92 09/01/93 09/01/94 05/01/86-90 Interest rate 5.70% 5.70 5.55 5.60 8.00 7.50 7.00 7.25 7.50 7.75 8.00 8.20 8.50 8.70 9.00 7.50 Annual serial p>lymepts $ 45,000 50,000 55.000 50.0pO $ 200.000 $ 60.000 $ 18.000 $ 50,000 50,000 50.000 50,000 50,000 50.000 50.000 50,000 60.000 $ 460.000 ~ 100.000 $ 838.000 $12.429.300 Note _ January 1. 1986 maturities are considered matured December 31, 1985. 66 c! I C! I C~ 0' C C c m c ~ c c c c m w c ~ E I I I I I I I I 1 I I h I I I I I I I I I ! I I 1 I 1 I i I . i 1 ... CITY OF ANDOVER. MINNESOTA DEBT SERVICE REQUIREMENTS DECEMBER 31. 1985 Special assessment bonds ~ Princinal Interest Total 1986 $ 1.459,800 $ 864.936 $ 2,324,736 1987 465.200 76l.239 1.226.439 1988 585,200 726.602 l.31l.802 1989 625.200 683.894 1.309.094 1990 685.200 637.380 l.322,S80 1991 725,200 585.75l 1,310.951 1992 695,200 532 ,939 1,228.139 1993 697.700 48l.347 1,179,047 1994 767.700 427,387 l.195,087 1995 807,700 367,320 1.175.020 1996 792,700 303,801 1,096,50l 1997 839.900 239,239 1.079,l39 1998 534,900 l84 .141 719.041 1999 499.900 141,312 641,212 2000 479,900 98.502 578.402 2001 349.900 57.667 407.567 2002 370.000 27.628 397,628 2003 70.000 10.500 80,500 2004 70,000 7.000 17,000 2005 70.000 3.500 73.500 $11.591.300 $7.142 .085 $18.733.385 General obli~ation bonds Princinal Interest Total $151,000 $ 59,660 $ l56.000 49.652 l31,OOO 38.75l 120.000 29,625 70,000 22.850 50,000 18.l00 50.000 14.000 50.000 9.750 60,000 5.400 210 ,660 205.652 169.751 149.625 92.850 68.100 64.000 59.750 65,400 $838.000 $247.788 $1.085.788 Note - January 1 maturities are considered matured December 3l. of the preceding year. 67 THIS PAGE LEFT 01 Ii C~ C :' ~l ..~ I c' 01 I I CI I C ~I I ~I i I cr I CI , i 0, , ! Ci 01 C Ci C' ~ BLANK INTENTIONALLY 68 I I I I I I I I I I I I I I I I I I I SECTION III STATISTICAL SECTION I CITY OF ANDOVER. MINNESOTA COMPUTATION OF LEGAL DEBT MARGIN DECEl-IBER 31, 1985 Assessed value Debt limit 7.33% of assessed value (B) Amount of debt applicable to debt limit: Total bonded debt Deductions: Debt Service Fund - Cash and temporary investments Special assessment bonds $12,429,300 $ 120,106 11.591.300 11.711.40~ Total amount of debt applicable to debt limit Legal debt margin The assessed value reflects a deduction of $1,696,653 contributed to the "Fiscal Disparitylr area-wide tax base. 70 ~------- $42.056.028 $ 3.082.707 717.894 ~ 2.364.813 ~ C: C\ 01 m c c c m ~ ~ B ; ! E ~ ~ m ~ "" I I I - 1 I I - I I I I I I I I I I I I I I I CITY OF ANDOVER. MINNESOTA COMPUTATION OF LEGAL DEBT MARGIN (CONTINUED) DECEMBER 31, 1985 Limit on Net Debt M.S.A. Section 475.53 "Subdivision 1. Generally. Except as otherwise provided in sections 475.5l no municipality, except a school district or a city of the first class, shall incur or be subject to a net debt in excess of 7.33% of the assessed value". Definitionlil M.S.A. Section 475.51 "Subdivision 4. 'Net Debt' means the amount remaining after deducting from its gross debt the amount of current revenues which are applicable within the current fiscal year to the payment of any debt, and the aggregate of the principal of the following: (1) Obligations issued for improvements which are payable wholly or partly from the proceeds of special assessments levied upon property specially benefited thereby. including those which are general obligations of the municipality issuing them. if the municipality is entitled to reimbursement in whole or in part from the proceeds of the special assessments. (2) Warrants or orders having no definite or fixed maturity. (3) Obligations payable wholly from the income from revenue-producing conveniences. (4) Obligations issued to create or maintain a permanent improvement revolving fund. (5) Obligations issued for the acquisition and betterment of public water-works systems.. and public lighting, heating or power systems. and of any combination thereof or for any other public convenience from which a revenue is or may be derived. (6) Not applicable. (7) Amount of all money and the face value of all securities held as a sinking fund for the extinguishment of obligations other than those deductible under this subdivision. (8) All other organizations which under the provision of the law authorizing their issuance are not to be included in computing the net debt of the municipality." 71 72 Ci ! C! \ C' m! I ~' C C C ; m m m ~ I I m E D I THIS PAGE LEFT BLANK INTENTIONALLY I I I I i I I I I I I I I I I I I I I I I CITY OF ANDOVER. MINNESOTA ASSESSED VALUATIONS. TAX LEVIES AND MILL RATES (shown by year of tax collectibility) Assessed valuations Contribution to fiscal disparities pool Distribution from fiscal disparities pool 1983 1984 1985 1986 $44,071,159 $43.692.054 $43.752,681 $46,379.188, 0.543,109) (1.656.156) 0,696.653) (1.736.037) 5.480.041 6.767,570 8.285.364 8.492.419 $48.008.091 $48.803.468 $50 .341 .39~ $53.135.570 Taxable valuation Tax levies Revenue General obligation debt $ 476.955 $ 93.056 530,144 $ 115,366 590,596 100.661 $ 664.930 137.903 $ 570.011 $ 645.510 S 691.257 $ 802.833 Mill rates Revenue General obligation debt 9.959 1 . 943 11.038 2.402 11.068 1. 887 11 .997 2.488 11. 90 2 13.440 12.955 14.485 . . .. 73 -- - I C i, I 01 \ oj m! ~i C C C m m ~ ~ ~ I E E D C I -- -~ - .