HomeMy WebLinkAbout1991 CAFR
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CITY OF ANDOVER
Financial Report
Year Ended
December 31, 1991
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CITY OF ANDOVER
Financial Report
Table of Contents
ELECTED AND APPOINTED OFFICIALS
FINANCIAL SECTION
INDEPENDENT AUDITOR'S REPORT
GENERAL PURPOSE FINANCIAL STATEMENTS (LIFTABLE STATEMENTS)
Combined Balance Sheet - All Fund Types and Account Groups
Combined Statement of Revenue, Expenditures, and Changes in Fund
Balance - All Governmental Fund Types and Expendable Trust Fund
Combined Statement of Revenue and Expenditures - Budget
and Actual - General and Debt Service Funds
Combined Statement of Revenue, Expenses, and Changes
in Retained Earnings - Proprietary Fund Type
Combined Statement of Cash Flows - Proprietary Fund Type
Notes to Financial Statements
COMBINING AND INDIVIDUAL FUND STATEMENTS
General Fund
Comparative Balance Sheet
Statement of Revenue, Expenditures, and Changes
in Fund Balance - Budget and Actual
Special Revenue Funds
Combining Balance Sheet
Combining Statement of Revenue, Expenditures,
and Changes in Fund Balance
Debt Service Funds
Combining Balance Sheet
Combining Statement of Revenue, Expenditures,
and Changes in Fund Balance
1991A G.O. Bonds Debt Service Fund
Statement of Revenue, Expenditures, and
Changes in Fund Balance - Budget and Actual
Certificates of Indebtedness Debt Service Fund
Statement of Revenue, Expenditures, and
Changes in Fund Balance - Budget and Actual
State-Aid Bonds Debt Service Fund
Balance Sheet
Statement of Revenue, Expenditures, and
Changes in Fund Balance - Budget and Actual
Page
1
2-3
4-7
8-9
10-11
12
13
14 - 34
35
36 - 43
44
45
46 - 47
48 - 49
50
51
52
53 - 54
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CITY OF ANDOVER
Financial Report
Table of Contents (continued)
Page
COMBINING AND INDIVIDUAL FUND AND
ACCOUNT GROUP STATEMENTS (CONTINUED)
Debt Service Funds (continued)
Tax Increment Bonds Debt Service Fund
Balance Sheet
Statement of Revenue, Expenditures, and
Changes in Fund Balance - Budget and Actual
Special Assessment Bonds Debt Service Fund
Balance Sheet
Statement of Revenue, Expenditures, and
Changes in Fund Balance - Budget and Actual
Capital Project Funds
Combining Balance Sheet
Combining Statement of Revenue, Expenditures,
and Changes in Fund Balance
State-Aid Capital Project Fund
Balance Sheet
Statement of Revenue, Expenditures, and Changes in Fund Balance
Tax Increment Capital Project Fund
Balance Sheet
Statement of Revenue, Expenditures, and Changes in Fund Balance
Special Assessment Capital Project Fund
Balance Sheet
Statement of Revenue, Expenditures, and Changes in Fund Balance
Proprietary Fund Type
Combining Balance Sheet
Combining Statement of Revenue, Expenses,
and Changes in Retained Earnings
Combining Statement of Cash Flows
Water Fund
Comparative Balance Sheet
Statement of Revenue, Expenses,
and Changes in Retained Earnings
Statement of Cash Flows
Sewer Fund
Comparative Balance Sheet
Statement of Revenue, Expenses,
and Changes in Retained Earnings
Statement of Cash Flows
55
56 - 57
58 - 61
62 - 65
66 - 67
68 - 69
70 - 71
72 - 73
74
75
76 - 77
78 - 79
80
81
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84
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86
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88
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CITY OF ANDOVER
Financial Report
Table of Contents (continued)
COMBINING AND INDIVIDUAL FUND AND
ACCOUNT GROUP STATEMENTS (CONTINUED)
Fiduciary Funds
Combining Balance Sheet
Expendable Trust Fund
Administrative Trust Fund
Statement of Revenue, Expenditures,
and Changes in Fund Balance
Agency Fund
Escrow Fund
Statement of Changes in Assets and Liabilities
STATISTICAL SECTION (UNAUDITED)
General Fund Revenue by Source
General Fund Expenditures by Function
Tax Levies and Collections
Computation of Legal Debt Margin
Schedule of Sources and Uses of Public Funds for
Tax Increment Financing District No. 1-1
Schedule of Sources and Uses of Public Funds for
Tax Increment Financing District No. 1-2
SINGLE AUDIT AND OTHER REQUIRED REPORTS
Independent Auditor's Report on Schedule of Federal Financial Assistance
Schedule of Federal Financial Assistance
Independent Auditor's Single Audit Combined Report on Internal Control Structure
Independent Auditor's Compliance Report Based on an Audit of the
General Purpose Financial Statements Performed in Accordance
With Government Auditing Standards
Independent Auditor's Single Audit Report on Compliance With the General
Requirements Applicable to Federal Financial Assistance Programs
Independent Auditor's Report on Compliance With Specific Requirements
Applicable to Nonmajor Related Federal Financial Assistance
Program Transactions
Independent Auditor's Report on Compliance With Minnesota
State Laws and Regulations
Schedule of Findings
Page
89
90
91
92
93 - 94
95
96 - 97
98
99
100
101
102 - 104
105
106
107
108
109
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CITY OF ANDOVER
Elected and Appointed Officials
December 31, 1991
Term of Office
Expires First
Business Day
of Januarv
Elected
Mayor
Kenneth Orttel
1993
Council
Marjorie Perry
Donald Jacobson
John McKelvey
Todd Smith
1995
1993
1995
1993
Appointed
James E. Schrantz - Administrator
Shirley Clinton - Treasurer
Victoria Volk - Clerk
Howard D. Koolick - Finance Director
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FINANCIAL SECTION
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~MALLOV
KARNOWSKI
RADOSEVICH
&CO..P.A.
PRINCIPALS
KENNETH w. MALLOY, CPA
THOMAS A. KARNOWSKI. CPA
PAUL A. RADOSEVICH, CPA
INDEPENDENT AUDITOR'S REPORT
City Council and Residents
City of Andover
Andover, Minnesota
We have audited the general purpose financial statements of the City of Andover, Minnesota, as of and
for the year ended December 31, 1991, as listed in the table of contents. These general purpose financial
statements are the responsibility of the City's management. Our responsibility is to express an opinion
on these general purpose financial statements based on our audit.
Except as discussed in the following paragraph, we conducted our audit in accordance with generally
accepted auditing standards. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the general purpose financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and
disclosures in the general purpose financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by management, as well as evaluating the overall general
purpose financial statement presentation. We believe that our audit provides a reasonable basis for our
opinion.
The general purpose financial statements include the financial activities and balances of the City's General
Fixed Assets Account Group, all of which are unaudited. We were unable to audit the General Fixed
Assets Account Group because the City has not maintained detailed accounting records of its general fixed
assets.
In our opinion, except for the effects of such adjustments, if any, as might have been determined to be
necessary had we been able to audit general fixed assets, the general purpose financial statements referred
to above present fairly, in all material respects, the financial position of the City of Andover, Minnesota,
at December 31, 1991, and the results of its operations, changes in fund balance, and cash flows of the
Proprietary Fund Type for the year then ended, in conformity with generally accepted accounting
principles.
(continued)
C:EC~'F="'EO~
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.....CCc:'lUr--l-.-.A.1'..I rs
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410 PARK NATIONAL BANK BUILDING
5353 WAVZATA BOULEVARD
MINNEAPOLIS, MINNESOTA 55416
TELEPHONE: 612-545-0424
Ta..EFAX: 612-545-0569
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Our audit was made for the purpose of forming an opinion on the general purpose financial statements
taken as a whole. The combining and individual fund statements as 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. Such information has been subjected to the auditing procedures applied in the audit 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.
The statistical information as listed in the table of contents is not necessary for a fair presentation of the
general purpose financial statements, but is presented as additional analytical data. This information is
unaudited and we do not express an opinion on it.
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March 27, 1992
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GENERAL PURPOSE FINANCIAL STATEMENTS
CITY OF ANDOVER
Combined Balance Sheet
All Fund Types and Account Groups
As of December 31, 1991
(with Comparative Totals as of December 31, 1990)
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Governmental Fund Types
Special Debt Capital
General Revenue Service Project
Assets and Other Debits V
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Assets Q
Cash and temporary investments $ 734,344 $ 66,092 $ 9,795,217 $ 1,045,385
Receivables
Accounts 20,713 — — 2,918
Accrued interest 6,407 1,025 165,705 39,250
Delinquent taxes 38,304 — 26,018 —
Delinquent special assessments 350 21 317,009 13,062
Deferred special assessments 7,102 — 5,993,429 720,818
Due from other governmental units 73,834 — 928,500 287,087
Due from developer — — 216,490 —
Inventory — — —
Property, plant, and equipment,
net of accumulated depreciation — — — —
Other debits
Amount available in Debt Service Funds — — — —
Amount to be provided for long -term debt — —
Total assets and other debits $ 881,054 $ 67,138 $_17A42 $ 2,108,520 Yr
See notes to financial statements
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Proprietary
Fund Type
Enterprise
Fiduciary
Fund Type
Expendable
Trust
Account Groups
General General
Fixed Assets Long-Term
(Unaudited) Debt
Totals
(Memorandum Only)
1991 1990
$ 413,043 $ 594,955 $ $ $ 12,649,036 $ 14,384,563
163,198 186,829 161,424
6,929 5,305 224,621 239,855
64,322 80,621
2,585 333,027 204,143
17,163 6,738,512 8,578,200
9,316 1,298,737 1,230,878
216,490 229,051
7,327 7,327 5,385
14,700,752 5,044,226 19,744,978 15,906,136
9,938,429 9,938,429 10,388,198
13,018,498 13,018,498 13,595,951
$ 15,320,313 $ 600,260 $ 5,044,226 $ 22,956,927 $ 64,420,806 $ 65,004,405
(continued)
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CITY OF ANOOVER
Combined Balance Sheet (continued)
All Fund Types and Account Groups
As of December 31,1991
(with Comparative Totals as of December 31, 1990)
liabilities, Equity, and Other Credits
liabilities
Cash deficits
Accounts payable
Contracts payable
Accrued expenses
Due to other govenunentall units
Deposits payable
Deferred revenue
Arbitrage rebate
Contract for deed
Bonds payable
Total liabilities
Equity and other credits
Investment in general fixed assets
Contributed capital
Retained earnings
Designated for equipment
Undesignated
Fund balance (deficit)
Reserved for debt service
Unreserved
Designated for working capital
Designated for capital projects
Designated for fquipment
Undesignated
Total equity and other credits
Total liabilities, equity,
and other credits
See notes to financial statements
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General
$
58,113
32,361
74,217
45,756
210,447
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Govenunental Fund Types
$ 32,022 $ 658,125
9,677 104,091
61,000
3,764 30,513
26 50
7,447,313 1,020,698
11,137
Special
Revenue
$
405
21
Debt
Service
426 7,503,939
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1,874,477
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Proprietary
Fund Type
Fiduciary
Fund Type
Enterprise
Agency
Account Groups
General General
Fixed Assets Long-Term
(Unaudited) Debt
Totals
(Memorandum Only)
~
1991 1990
$ $ $ $ $ 690,147 $ 31,918
7,000 2,836 193,941 376,063 452,832
3,962 64,962 61,356
14,270 69,594 150,502 116,046
357 74,650 77,628
371,360 371,360 504,247
8,513,788 10,117,339
11,137
47,430 47,430
22,642,000 22,642,000 23,641,000
21,627 374,196 22,956,927 32,942,039 35,002,366
5,044,226 5,044,226 2,566,553
14,637,378 14,637,378 13,280,706
33,640 33,640
627,668 627,668 470,394
9,969,679 10,395,982
668,121 617,768
2,145,265 3,350,521
174,323 172,985
226,064 (1,821,533) (852,870)
15,298,686 226,064 5,044,226 31,478,767 30,002,039
$ 15,320,313 $ 600,260 $ 5,044,226 $ 22,956,927 $ 64,420,806 $ 65,004,405
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CITY OF ANDOVER
Com bined Statement of Revenue, Expenditures, and Changes in Fund Balance
AJI Governmental Fund Types and Expendable Trust Fund
Year Ended December 31, 1991
(with Comparative Totals for Year Ended December 31, 1990)
General
Revenue
Taxes ad valorem
Tax increments
Special assessments
Licenses and pennits
Intergovernmental
Charges for services
Fines and forfeits
Other
Interest earned on investm,~nts
Sale ofland
Park dedication fees
Refunds and reimbursements
Miscellaneous
Total revenue
$ 1,017,774
230,298
640,318
82,604
31,750
27,248
37,119
6.923
2,074,034
Expenditures
Current
General government
Public safety
Public works
Sanitation
Parks and recreation
Recycling
Economic development
Unallocated
Capital projects
Debt service
579,797
805.393
374.138
14,831
245,097
46,771
17,447
72.521
Total expenditures
2,155,995
Excess (deficiency) of
revenue over e,xpenditures
(81.961 )
Other financing sources (uses)
Bond proceeds
Operating transfers in
Operating transfers (out)
Total other fmancing sources (uses)
134,800
134.800
Excess (deficiency) of revenue and
other fmancing: sources over expen-
ditures and other financing uses
52,839
Fund balance
Beginning of year
Residual equity transfers in
Residual equity transfers (out)
Governmental Fund Types
Special Debt
Revenue Service
$ $ 86,585
544,544
3 2,387,518
175,369
4,738 760,949
55,627
57,317
4,741 4,067,909
11,643
11,643
(6,902)
8,202
8,202
1,300
9,222,715
9,222,715
(5,154,806)
3,389,500
550,954
(557,829)
3,382,625
(1,772.181)
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232,719
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14,250
329
1,092,834
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(3,434,316)
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2,712,000
234,234
(278,891)
2,667,343
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(766,973)
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10,388,198
1,394,046
(71,634)
$ 670,607 $ 66.712 $ 9,938,429 $
2,323,428
89.331
(1,411,743)
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617,768
End of year
See notes to fmancial statements
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I Fiduciary Totals
Fund Type (Memorandum Only)
I Expendable
Trust 1991 1990
I $ $ 1,104,359 $ 991,942
544.544 449.064
2,992,105 3,648,638
230,298 212,793
I 1,048,406 1,133,122
82,604 75,962
31,750 46,650
I 20,824 1,054.711 1,516,505
55.627 5.000
14,250 16.735
] I 37.119 38,480
64,569 28,241
a 20,824 7,260,342 8,163.132
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~ 579.797 593.778
I 805.393 754.914
385.781 309,593
14,831 29,168
245.097 261.449
I 46.771 39.567
17.447 14.289
72,521 129,589
4,527,150 2,111.403
I 9.222.715 11,531.208
15,917,503 15,774,958
I 20,824 (8.657,161) (7.611.826)
I 6.101.500 4,031,476
20.460 948,650 1,069.383
(104,800) (941.520) (1,099.883)
I (84.340) 6,108,630 4,000.976
I (63,516) (2,548,531 ) (3,610,850)
I 289,580 13.684.386 17,295.236
1,483,377 1,610,932
(1.483,377) (1.610.932)
I $ 226.064 $ 11.135.855 $ 13.684.386
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CTIY OF ANOOVER
Combined Statement of Revenue and Expenditures
Budget and Actual
General and Debt Service Funds
Year Ended December 31, 1991
General Fund
Over
(Under)
Budget Actual Budget
Revenue
Taxes ad valorem $ 1,072,643 $ 1,017,774 $ (54,869)
Tax increments
Special assessments
licenses and permits 223,710 230,298 6,588
Intergovernmental 592,199 640,318 48,119
Charges for services 72,350 82,604 10,254
Fines and forfeits 59,000 31,750 (27,250)
Other
Interest earned on investments 30,000 27,248 (2,752)
Sale of land
Refunds and reimbursements 30,000 37,119 7,119
Miscellaneous 6,143 6,923 780
Total revenue 2,086,045 2,074,034 (12,011)
Expenditures
Current
General government 584,657 579,797 (4,860)
Public safety 811,658 805,393 (6,265)
Public works 423,746 374,138 (49,608)
Sanitation 32,297 14,831 (17,466)
Parks and recreation 219,897 245,097 25,200
Recycling 37,129 46,771 9,642
Economic development 16,544 17,447 903
Unallocated 80,117 72,521 (7,596)
Debt service
Total expenditures 2,206,045 2,155,995 (50,050)
Excess (deficiency) of
revenue over expenditures (120,000) (81,961 ) 38,039
Other financing sources (uses)
Bond proceeds
Operating transfers in 120,000 134,800 14,800
Operating transfers (out)
Total other financing sources (uses) 120,000 134,800 14,800
Excess (deficiency) ofrevenue and
other financing sources over expen-
ditures and other financing uses $ $ 52,839 $ 52,839
See notes to financial statements
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II Debt Service Funds
1 I Over
(Under)
Budget Actual Budget
J I
$ 94,855 $ 86,585 $ (8,270)
~ 227,000 544,544 317,544
~ I 1,783,651 2,066,997 283,346
~ 224,400 175,369 (49,031)
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. 496,536 669,503 172,967
II
55,627 55,627
il 42,179 42,179
2,826,442 3,640,804 814,362
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I 8,744,235 9,098,587 354,352
8,744,235 9,098,587 354,352
I (5,917,793) (5,457,783) 460,010
I 3,125,000 3,389,500 264,500
37,630 459,042 421,412
I (175,000) (105,918) 69,082
2,987,630 3,742,624 754,994
I $ (2,930,163) $ (1,715,159) $ 1,215,004
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CITY OF ANDOVER
Combined Statement of Revenue, Expenses, and Changes in Retained Earnings
Proprietary Fund Type
Years Ended December 31, 1991 and 1990
Operating revenue
User charges
Meters
Permit fees
Penalties
Other
Enterprise Funds
1991 1990
$ 557,021 $ 508,933
29,473 26,185
11,400 10,750
14,322 12,445
6,366 1,737
618,582 560,050
119,003 95,838
29,163 25,080
21,930 21,662
44,510 28,112
223,752 212,665
438,358 383,357
180,224 176,693
348,614 324,588
(168,390) (147,895)
27,279 18,054
(748)
27,279 17,306
(141,111) (130,589)
Total operating r,evenue
Operating expenses
Personal services
Supplies
Meters, etc.
Other services and charges.
Disposal charges
Total operating t:xpenses
Operating income before depreciation
Depreciation
Operating loss
Other income (expense)
Interest income
Interest expense
Total other income (expense)
Net loss
Other financing sources (uses)
Operating transfers in
Debt Service Funds
Operating transfers (out)
Debt Service Funds
Total other financing sources (uses)
30,500 30,500
(37,630)
(7,130) 30,500
339,155 317,905
190,914 217,816
470,394 252,578
$ 661,308 $ 470,394
Add credit for depreciation on contributed assets
Income closed to retained earnings
Retained earnings
Beginning of year
End of year
See notes to financial statements
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I CITY OF ANOOVER
I Combined Statement of Cash Flows
Proprietary Fund Type
Years Ended December 31,1991 and 1990
I
I Enterprise Funds
1991 1990
I Cash flows from operating activities
Operating loss $ (168,390) $ (147,895)
. Adjustments to reconcile operating loss to
I I net cash provided by operating activities
Depreciation 348,614 324,588
Change in assets and liabilities
I Receivables
J I
Accounts (25,490) (17,010)
! I Delinquent special assessments (320) (2,265)
Deferred special assessments 3,059 (20,223)
Due from other governmental units (8,686) (630)
i Inventory (1,942) 75
1 Accounts payable (9,948) 11,831
~I Accrued expenses 4,984 (321 )
Due to other governmental units (16,061 ) (20,668)
I Net cash provided by operating activities 125,820 127,482
Cash flows from capital and related financing activities
Acquisition of capital assets (13,955) (53,402)
I Cash flows from investing activities
Interest received 23,239 17,318
I Cash tlows from noncapital financing activities
Operating transfer from Debt Service Funds 30,500 30,500
I Operating transfer to Debt Service Funds (37,630)
Net cash provided (used) by (7,130) 30,500
noncapital financing activities
I Net increase in cash and temporary investments 127,974 121,898
I Cash and temporary investments
Beginning of year 285,069 163,171
I End of year $ 413,043 $ 285,069
Supplemental schedule of noncash investing, capital, and financing activities
I Assets contributed by other funds $ 1,695,827 $ 353,704
I See notes to financial statements
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CITY OF ANDOVER
Notes to Financial Statements
December 31, 1991
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
A. Organization
The City operates under "Optional Plan A" form of government as defined in the State of Minnesota
Statutes. The City Council, composed of an elected mayor and four elected trustees or councilmembers,
exercises legislative authority and determines all matters of policy.
B. Reporting Entity
The City's financial statements include all funds, account groups, departments, agencies, boards,
commissions, and other organizations over which the City's officials exercise oversight responsibility.
Oversight responsibility includes such aspects as appointment of governing body members, budget review,
approval of property tax levies and special assessments, outstanding debt secured by the City's full faith
and credit or revenue, and responsibility for funding deficits.
The Fire Relief Association is excluded from the City's financial statements because of the lack of
oversight responsibility.
C. Basis of Statement Presentation
The accounts of the City are organized on the basis of funds and account groups, each of which is
accounted for as an independent entity. A description of the fund types and account groups included in
the report are as follows:
1) Governmental Fund Types
a) General Fund - The General Fund is used to account for all financial resources except those
required to be accounted for in another fund.
b) Special Revenue Funds - The Special Revenue Funds are used to account for the proceeds
of certain specific revenue sources (other than expendable trusts or major capital projects) that
are legally restricted to expenditures for specified purposes.
c) Debt Service Funds - The Debt Service Funds are used to account for the accumulation of
resources for, and payment of principal, interest, and related costs of general long-term debt
obligations.
d) Capital Project Funds - The Capital Project Funds are used to account for financial
resources to be used for the acquisition or construction of major capital facilities (other than
those financed by Proprietary Funds and Trust Funds).
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CITY OF ANDOVER
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Notes to Financial Statements (continued)
December 31, 1991
NOTE 1 - SUMMARY OF' SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
2) Proprietary Fund Type
a) Enterprise Funds - The Enterprise Funds are used to account for operations that are financed
and operated in a manner similar to private business enterprises -- where the intent of the
governing body is that the costs of providing goods or services to the general public on a
continuing basis be financed or recovered primarily through user charges.
3) Fiduciary Fund Type
a) Trust and Agel1lcy Funds - The Trust and Agency Funds are used to account for assets held
by the City in the capacity of trustee or agent. Agency Funds are custodial in nature (assets
equal liabilities) and do not involve measurement of results of operations.
4) Account Groups
a) General Fixed Assets (Unaudited) - This group of accounts contains the fixed assets of the
Governmental Fund Types.
b) General Long-1rerm Debt. This group of accounts contains the long-term obligations of the
City other than those liabilities included in the Proprietary Funds.
Total columns on the combined statements are captioned "Memorandum Only" to indicate that they are
presented only to facilitate financial analysis. Data in these columns does not present financial position,
results of operations, or c:ash flows in conformity with generally accepted accounting principles.
Interfund eliminations have not been made in the aggregation of this data.
D. Basis of Accounting
1) Modified Accrual.. The Governmental and Fiduciary Fund Types are accounted for using the
modified accrual basis of accounting. Their revenue is recognized when it becomes measurable
and available as net current assets. "Measurable" means the amount of the transaction can be
determined and "available" means collectible within the current period or soon enough thereafter
to be used to pay liabilities of the current period. Property tax and special assessment revenue
is generally considered as available if collected within 60 days after year-end. State revenue is
recognized in the y(~ to which it applies according to Minnesota Statutes. Their expenditures
are generally recognized when the related fund liability is incurred. Interest and principal
expenditures in the Debt Service Funds are recognized on the due dates.
Major revenues sus(;eptible to accrual are property taxes, special assessments, intergovernmental
revenues, charges for services, and interest earned on investments. Licenses, permits, fines,
forfeits, and other miscellaneous revenues are not susceptible to accrual as they are generally not
measurable until re,;eived in cash.
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CITY OF ANDOVER
Notes to Financial Statements (continued)
December 31, 1991
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
2) Accrual - Proprietary Funds are accounted for using the accrual basis of accounting. Their
revenue is recorded when earned and expenses are recognized when they are incurred.
E. Budget
The amounts shown on the financial statements as "Budget" represent the revised budget amounts based
on the modified accrual basis of accounting. Budgets are adopted annually by the Council for the
General, Debt Service, and Enterprise Funds. Neither Minnesota Statutes nor City Code establish a legal
level of control for the budgets presented. The 1991 budget was amended at the departmental level. The
City made no significant amendments to the appropriations budgeted for 1991. The" Combined Statement
of Revenue and Expenditures - Budget and Actual" reflects all budgetary to actual comparisons for
Governmental Funds budgeted by the City. Encumbrance accounting is not used and expenditure
appropriations lapse at year-end.
F. Cash and Investments
Cash balances from all funds are combined and invested to the extent available in various securities as
authorized by State law. Earnings from the pooled investments are allocated to the respective funds on
the basis of applicable cash balance participation by each fund. Investments are stated at cost, which
approximates market value.
G. Property Taxes
Property tax levies are set by the City Council each year and are certified to Anoka County for collection
in the following year. In Minnesota, counties act as collection agents for all property taxes.
The County spreads all levies over taxable property. Such taxes become a lien on January 1 and are
recorded as receivables by the City on that date. Revenue is accrued and recognized in the year
collectible. Taxes which remain unpaid at December 31 are classified as delinquent taxes receivable.
Revenue from property taxes which is not collected within 60 days of year-end is deferred since it is not
available to meet obligations of the current year.
Real property taxes xpay be paid by taxpayers in two equal installments on May 15 and October 15.
Personal property taxes may be paid on February 28 and June 30. The County provides tax settlements
to cities and other taxing districts four times a year.
A portion of the property taxes levied is paid by the State of Minnesota through Homestead and
Agricultural Credit Aid (HACA) and Equalization Aid which are included in intergovernmental revenue
in the financial statements.
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CITY OF ANDOVER
Collection and distribution systems
Machinery
Furniture and equipment
50 years
20 years
3-15 years
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Notes to Financial Statements (continued)
December 31, 1991
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
H. Special Assessments
Special assessments represent the financing for public improvements paid for by benefitting property
owners. These assessments are recorded as receivables upon certification by the City Council. The
corresponding revenue from delinquent (unremitted) and deferred (certified but not yet levied) special
assessments receivable are deferred until the year in which they become available.
I. Inventory
The inventory held by the Proprietary Funds is stated at cost on the first-in, first-out basis. The cost of
inventory is recognized as expense at the time the items are sold or used.
J. Property, Plant, and Equipment
1) General Fixed Assets Account Group (Unaudited) - The City does not maintain records which
provide complete detailed accounting control over quantities and original costs of assets in this
account group. Fi"ed assets are valued at historical cost or estimated historical cost. No
depreciation has be(~n provided on general fixed assets. The costs of property, plant, and
equipment are accounted for as current expenditures of the Governmental Fund Types in the year
purchased. The City elected not to record infrastructure fixed assets in its accounting records.
2) Proprietary Fund Type - Fixed assets of the Proprietary Funds are stated at cost, estimated cost,
or, in the case of contributions, at fair market value at the time received. Depreciation has been
provided using the straight-line method over the estimated useful lives of the assets, as follows:
Depreciation on contributed assets charged to operations is closed to the Contributed Equity
Account.
K. Compensated Absences
City employees earn vacation and sick pay accruing each payroll period. Unused vacation can be accrued
by the employees up to a maximum of 200 hours as of the anniversary date of the individual's
employment with the City. In the Governmental Fund Types, vacation pay is expensed as paid, and the
liability for unused vacation is recorded in the General Long-Term Debt Account Group. Proprietary
Fund Types expense vacation pay as it accrues, with the liability being recorded in the respective fund.
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CITY OF ANDOVER
Notes to Financial Statements (continued)
December 31, 1991
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
Employees can also accrue an unlimited amount of unused sick leave. Employees with two or more years
of service are entitled to receive severance pay equal to a percentage of unused sick pay ranging from
20-50% based on years of service, up to a maximum of 400 hours. The liability for severance pay is
accounted for the same as accrued vacation pay.
L. Comparative Data
Comparative total data for the prior year has been presented in the accompanying financial statements in
order to provide an understanding of changes in the City's financial position and operations. However,
comparative data has not been presented in all statements because its inclusion would make certain
statements unduly complex and difficult to understand.
M. Statement of Cash Flows
For purposes of the Statement of Cash Flows, the City considers all highly liquid debt instruments with
a maturity of three months or less to be cash equivalents. The Proprietary Funds' equity in the City-wide
cash and investment management pool is considered to be cash equivalent.
NOTE 2 - CASH AND TEMPORARY INVESTMENTS
Cash balances of the City's funds are combined (pooled) and invested to the extent available in various
investments authorized by Minnesota State Statutes. Each fund's portion of this pool (or pools) is
displayed on the financial statements as "cash and temporary investments." For purposes of identifying
the risk of investing public funds, the balances are categorized as follows:
A. Security of Deposits
Deposits consist of checking accounts, savings accounts, and certificates of deposit held in a bank or
savings institution.
At year-end, the carrying amount of the City's deposits was $3,235,012, while the balance on the bank
records was $3,424,516. All deposits were insured or covered by collateral (with market value exceeding
110% of deposits) held by the City or its agent in the City's name.
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CITY OF ANDOVER
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204,814
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Notes to Financial Statements (continued)
December 31, 1991
NOTE 2 - CASH AND TEMPORARY INVESTMENTS (CONTINUED)
B. Security or Investments
Minnesota State Statutes authorize the City to invest in obligations of the U.S. Treasury, agencies, and
instrumentalities, shares of investment companies whose only investments are in the aforementioned
securities, obligations of the State of Minnesota or its municipalities, bankers' acceptances, future
contracts, repurchase or reverse repurchase agreements, and commercial paper of the highest quality with
a maturity of no longer than 270 days.
The City's investments are categorized below to give an indication of the level of risk assumed at year-
end. Category 1 includes investments that are insured or registered or for which the securities are held
by the City or its agent in th,~ City's name. Category 2 includes uninsured and unregistered investments
for which the securities are held by the counterparty's trust department or agent in the City's name.
Category 3 includes uninsured and unregistered investments for which the securities are held by the
counterparty or by its trust department or agent but not in the City's name.
Credit Risk Category
2
Carrying Market
3 Value Value
- $ 70,226 $ 72,000
1,035,691 1,026,875
292,269 6,655.810 6,775,259
292,269 7,761,727 7,874,134
Repurchase agreements $ 70,226 $
U.S. Government Securities 1,035,691
Commercial paper 6,363,541
$ 7.469,458 $
- $
- $
Investment pools
Minnesota Municipal
Money Market Fund
Fidelity Government
Money Market Portfolio
756,686
756,686
$ 8.723.227 $ 8.835,634
C. Cash on Hand
Cash in the possession of the City, consisting of petty cash and change funds, totaled $650 at
December 31, 1991.
NOTE 3 - DUE FROM DEVEWPER
As part of a development agreement the City entered into with a private developer in May 1989, the City
received a promissory note for $243,520 from the developer. The note is to reimburse the City for the
fiscal disparities' contributions the City lost due to the establishment of a Tax Increment Financing
District for the development project. The note bears an interest rate of 5.50% and calls for 180 equal
monthly payments to be made to the City through August 2003.
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CITY OF ANDOVER
Notes to Financial Statements (continued)
December 31, 1991
NOTE 4 - DUE FROM OTHER GOVERNMENTAL UNITS
The amounts due from other governmental units at December 31, 1991 are composed of the following:
Due from State of Minnesota
State share of street improvement projects
State share of underground storage tank removal costs
Other
$ 274,575
9,325
12
283,912
30,754
25,881
24,291
894,366
28,006
1.775
1,005,073
1,600
8.152
$ 1.298.737
Total due from State of Minnesota
Due from Anoka County
Delinquent taxes collected within 60 days of year-end
Delinquent special assessments collected within 60 days of year-end
Reimbursement of Community Development Block Grant expenditures
County share of various improvement project costs
County share of recycling program costs
Court fines
Total due from Anoka County
Due from City of Rogers - sale of equipment
Due from Metropolitan Waste Control Commission
Total from all sources
NOTE 5 - PROPERTY AND EQUIPMENT
A. Proprietary Fund Type Property and Equipment
A summary of Proprietary Fund Type property, equipment, and accumulated depreciation follows:
Water Sewer Total
Furniture and equipment $ 69,386 $ 20,080 $ 89,466
Machinery 561,365 561,365
Collection and distribution systems 6.588.334 9.841.557 16.429.891
7,219,085 9,861,637 17,080,722
Less accumulated depreciation (768.202) (1.611.768) (2.379.970)
$ 6.450.883 $ 8.249.869 $ 14.700.752
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CITY OF ANDOVER
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Land and improvements $ 709,902 $ 144,062 $
Buildings and improvements 632,542 1,106,648
Furniture and equipment 152,874 147,189
Machinery and automotive equipment 1.071.235 1.115.504
$ 2.566.553 $ 2.513.403 $
NOTE 6 - LONG-TERM DEBT
A. Summary of Changes in Long-Term Debt
- $
853,964
1,739,190
288,272
2.162.800
5.044.226
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Notes to Financial Statements (continued)
December 31, 1991
NOTE 5 - PROPERTY Al"i1D EQUIPMENT (CONTINUED)
B. Changes in General Fi,;ed Assets
A schedule of changes in general fixed assets (unaudited) by major asset type follows:
Balance
Beginning
of Year
Deletions
Balance
End of
Year
Additions
11,791
23.939
35.730 $
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The following is a summary of changes in long-term debt of the City for the year ended December 31,
1991:
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Balance Balance
Beginning New Debt Debt End of
of Year Issues Retired Year
General long-term debt
General Obligation Bonds $ 23,466,000 $ 5,900,000 $ 7,026,000 $ 22,340,000
Certificates of Indebtedness 175,000 252,000 125,000 302,000
Assessments on City property 269,374 75,433 193,941
Capital lease obligations 9,495 5,533 3,962
Due to Metropolitan Waste
Control Commission (MWCC) 2,726 2,726
Compensated absences payable 61,554 8,040 69,594
Contract for deed payable 47 .430 47 .430
Total general long-term debt $ 23.984.149 $ 6.207.470 $ 7 .234.692 $ 22.956.927
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December 31, 1991
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I I B. Components or Long-Term Debt
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I Original Interest Issue Maturity at
i Issue Rate Date Date Year-End
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i General Obligation Bonds
Special Assessment Bonds
Improvement Bonds of Series 1977 A $ 1,215,000 5.00% 3-01-77 1-01-06 $ 825,000
- I Improvement Bonds of 1978 $ 270,000 5.25-6.00% 11-01-78 2-01-99 140,000
. hnprovement Bonds of 1979 $ 270,000 6.50% 10-01-79 2-01-95 100,000
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Improvement Bonds of Series 1985A $ 300,000 8.25-9.60% 3-01-85 2-01-00 205,000
- Improvement Bonds of Series 1985B $ 2,350,000 6.00-9.00% 8-01-85 8-01-00 1,625,000
- I hnprovement Bonds of Series 1986A $ 1,795,000 5.00-7.90% 7-01-86 8-01-01 1,320,000
Improvement Bonds of Series 1986B $ 2,600,000 4.75-6.30% 10-01-86 10-01-96 1,475,000
- Refunding Bonds of Series 1986C $ 2,485,000 6.00-7.40% 8-01-86 8-01-02 2,275,000
Improvement Bonds of Series 1989A $ 3,200,000 6.10-6.80% 7-01-89 8-01-01 2,900,000
- I Temporary Improvement
Bonds of Series 1990A $ 2,500,000 6.25% 7-01-90 7-01-93 2,500,000
Temporary Improvement
Bonds of Series 1990B $ 1,550,000 5.90% 12-01-90 12-01-93 1,550,000
I Temporary hnprovement
Bonds of Series 19918 $ 3,400,000 5.40% 7-01-91 7-01-94 3,400,000
Tax Increment Bonds
G.O. Tax Increment
Bonds of Series 1987 A $ 1,065,000 8.25-9.90% 5-01-87 2-01-05 1,015,000
I G.O. State-Aid Street Bonds
1984 $ 510,000 6.75-9.00% 9-01-84 9-01-94 160,000
1988 $ 500,000 5.60-6.80% 8-01-88 8-01-98 350,000
G.O. Fire Station Bonds
I of Series 1991A $ 2,500,000 5.00-6.50% 7-01-91 7-01-01 2,500,000
Total General Obligation Bonds 22,340,000
Certificates of Indebtedness
I 1987 Certificates of Indebtedness $ 170,000 5.75-6.20% 2-01-87 2-01-92 34,000
1989 Certificates of Indebtedness $ 110,000 6.25-6.35 % 12-01-89 12-01-94 66,000
1990A Certificates of Indebtedness $ 252,000 6.30-6.70% 7-01-91 1-01-96 202.000
Total Certificates of Indebtedness 302,000
I Assessments on City property $ 338,174 6.25-10.70% N/A 2001 193,941
I Capital lease obligations
Ricoh FT5000 copier $ 5,523 13.90% 5-23-88 3-01-92 435
AT&T phone system $ 10,267 11.50% 5-10-88 5-10-93 3,527
Total capital lease obligations 3,962
I Contract for deed payable $ 47,430 9.00% 8-05-91 8-01-96 47,430
Compensated absences payable N/A N/A N/A N/A 69.594
I Total General Long-Term Debt $ 22.956.927
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CITY OF ANDOVER
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Notes to Financial Statements (continued)
December 31, 1991
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NOTE 6 - LONG- TERM DEBT (CONTINUED)
C. Minimum Debt Payments
Minimum annual principal and interest payments required to retire long-term debt, excluding assessments
on City property and compensated absences payable:
General Certificates Capital
Year Ending Obligation of Lease Contract
December 31 Bonds Indebtedness Obligations for Deed Total
1992 $ 2,894,511 $ 124,446 $ 3,155 $ 13 ,495 $ 3,035,607
1993 6,919,969 84,818 1,129 12,689 7,018,605
1994 5,971,015 80,182 11,836 6,063,033
1995 2,363,940 55,485 10,982 2,430,407
1996 2,208,516 10,129 2,218,645
Thereafter 8.594 .699 8.594.699
28,952,650 344,931 4,284 59,131 29,360,996
Less amount
representing
interest (6.612..650) (42.931) (322) 01.701) (6.667 .604)
$ 22.340,000 $ 302,000 $ 3,962 $ 47 ,430 $ 22,693,392
D. Descriptions and Restrictions of Long-Term Debt
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fire stations. The issues will be repaid primarily from ad valorem levies.
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General Obligation Bonds classified by major source of repayment are as follows:
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Special Assessment Revenue - These bonds were issued to finance various improvements and will
be repaid primarily from special assessments levied on the properties benefitting from the
improvements. Some issues, however, are partly financed by ad valorem levies.
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Tax Increment Levies - These bonds were issued for redevelopment projects. The additional tax
revenue resulting from increased taxable valuation of the redeveloped properties is used to retire
the related debt.
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State-Aid - These bonds were issued to finance the construction, improvement, or repair on State-
aid streets within th(~ City. The issues will be repaid from allocations made to the City's accounts
in the Municipal State-Aid Street Fund.
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CITY OF ANDOVER
Notes to Financial Statements (continued)
December 31, 1991
NOTE 6 - WNG-TERM DEBT (CONTINUED)
Other types of long-term debt are as follows:
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Certificates of Indebtedness - These certificates were issued to finance the purchase of equipment.
They will be retired from ad valorem levies and transfers from other funds.
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Assessments on City Property - These are special assessments for improvement projects which
benefitted specific parcels of land owned by the City.
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Capital Lease Obligations - The City is currently leasing a copier and a phone system under
agreements classified as capital leases that bear interest rates varying from 11.5% to 13.9%.
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Contract for Deed Payable - In August 1991, the City entered into an agreement to purchase a
piece of land. The total cost of the land was $56,100, consisting of a cash payment of $8,670
and a contract for deed for the remaining $47,430. The contract for deed bears an annual interest
rate of 9.0% and calls for bi-annual payments through August 1, 1996.
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Compensated Absences Payable - This liability represents vested vacation and severance benefits
earned by employees through the end of the year which will be paid or used in future periods.
All long-term debt is backed by the full faith and credit of the City.
E. Resources to Meet Future Debt Requirements
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Amounts Available for Long-Term Debt - The fund balance available in the Debt Service Funds
for repayment of long-term debt at December 31, 1991 is $9,938,429.
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Amounts to be Provided for Long-Term Debt - This amount represents future revenue to be
generated for debt payments, generally including deferred tax levies, special assessments, tax
increments, fund transfers, and interest earnings. Deferred tax levies scheduled to be placed on
the tax rolls, as needed, total $4,221,719 at December 31, 1991.
NOTE 7 - PROPRIETARY FUNDS CONTRIBUTED CAPITAL
This balance represents the cost of property contributed to the Proprietary Funds by the City, less
depreciation thereon charged to the respective funds' operations. Changes occurring in the account during
1991 were as follows:
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CITY OF ANDOVER
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Notes to Financial Statements (continued)
December 31, 1991
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NOTE 7 - PROPRIETARY FUNDS CONTRIBUTED CAPITAL (CONTINUED)
Water Fund Sewer Fund Total
Balance - beginning of year $ 5,172,534 $ 8,108,172 $ 13,280,706
Capital contributed 1,371,993 323,834 1,695,827
Less current year's depreciation
on contributed asSl~ts (145.562) (193.593) (339.155)
Balance - end of year $ 6.398.965 $ 8.238.413 $ 14.637 .378
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NOTE 8 - SEGMENT INFORMATION FOR ENTERPRISE FUNDS
The City provides services which are accounted for in the Enterprise Funds. The segment information
for these funds for the year ended December 31,1991 is as follows:
Water Fund Sewer Fund Total
Operating revenue $ 253,233 $ 365,349 $ 618,582
Operating expenses $ 149,395 $ 288,963 $ 438,358
Depreciation expen:;e $ 153,175 $ 195,439 $ 348,614
Operating loss $ (49,337) $ (119,053) $ (168,390)
Net loss $ (27,228) $ (113,883) $ (141,111)
Operating transfers in $ - $ 30,500 $ 30,500
Operating transfers (out) $ - $ (37,630) $ (37,630)
Current capital contributed $ 1,371,993 $ 323,834 $ 1,695,827
Property and equipment additions $ 1,384,253 $ 325,529 $ 1,709,782
Net working capitall $ 380,910 $ 217,024 $ 597,934
Total assets $ 6,847,627 $ 8,472,686 $ 15,320,313
Total equity $ 6,831,793 $ 8,466,893 $ 15,298,686
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CITY OF ANDOVER
Notes to Financial Statements (continued)
December 31, 1991
NOTE 9 - TRANSFERS
The following transfers were made during the year ended December 31, 1991:
A. Operating Transfers
Transferred To Transferred From Amount Description
General Fund Tax Increment Capital Project $ 24,000 To reimburse administrative costs
Fund - TIF Project 1-1 Account related to tax increments.
General Fund Tax Increment Capital Project 6,000 To reimburse administrative costs
Fund - TIF Project 1-2 Account related to tax increments.
General Fund Administrative Trust Fund 104,800 To fund administrative costs.
Drainage and Mapping State-Aid Capital Project Fund - 5,127 To transfer amounts assessed for
Special Revenue Fund State-Aid Revolving Account mapping costs.
Drainage and Mapping Special Assessment Capital 3,075 To transfer amounts assessed for
Special Revenue Fund Project Fund - Unfmanced mapping costs.
Improvement Account
State- Aid Capital Project State-Aid Capital Project 158,316 To reimburse construction costs
Fund - State-Aid 1989 Fund - State-Aid 1988B charged to State-Aid 1989
Construction Account Construction Account Construction Account.
Special Assessment Capital Special Assessment Bonds Debt 75,918 To reimburse improvements
Project Fund - Unfmanced Service Fund - Improvement unfmanced for 1988 projects
Improvement Account Bonds of 1989A Account funded by 1989 bond issue.
Special Assessment Bonds Debt Special Assessment Bonds 262,102 To reimburse bond accounts for
Service Fund - Improvement Debt Service Fund - Water projects assessed in other
Bonds Series 1988A Account Trunk Account accounts.
Special Assessment Bonds Debt Special Assessment Bonds 159,309 To reimburse bond accounts for
Service Fund - Improvement Debt Service Fund - Sewer projects assessed in other
Bonds Series 1988A Account Trunk Account accounts.
Special Assessment Bonds Special Assessment Capital 74,315 To transfer amounts assessed for
Debt Service Fund - Water Project Fund - U nfmanced water trunk projects in other
Trunk Account Improvement Account accounts.
Special Assessment Bonds Special Assessment Capital 17,598 To transfer amounts assessed for
Debt Service Fund - Sewer Project Fund - Unfmanced sewer trunk projects in other
Trunk Account Improvement Account accounts.
Certificates of Indebtedness Sewer Enterprise Fund 37,630 To reimburse Certificates of
Debt Service Fund Indebtedness for amounts used to
purchase Sewer Fund equipment.
Sewer Enterprise Fund Special Assessment Bonds 30,500 To reimburse lost revenue from
Debt Service Fund - Sewer lower rates due to excess trunk
Trunk Account charges in prior years.
Administrative Trust Fund Special Assessment Capital 2,700 To transfer amounts assessed for
Project Fund - State-Aid administrative costs.
Revolving Account
Administrative Trust Fund Special Assessment Capital To transfer amounts assessed for
Project Fund - Unfmanced administrative costs.
Improvement Account 17.760
Total $ 979.150
-26-
CITY OF ANDOVER
Notes to Financial Statements (continued)
December 31, 1991
NOTE 9 - TRANSFERS (CONTINUED)
B. Residual Equity Transfers
Transferred To
Special Assessment Bonds Debt
Service Fund - Improvement
Bonds Series 1988A Account
Special Assessment Bonds Debt
Service Fund - Improvement
Bonds Series 1986B Account
State-Aid Capital Project Fund -
State-Aid Project Account
State-Aid Capital Project
Fund - State-Aid 1989
Construction Account
Permanent Improvement
Revolving Capital
Project Fund
Permanent Improvement
Revolving Capital
Project Fund
Transferred From
Special Assessment Capital
Project Fund - Improvement
Bonds Series 1988A
Construction Account
Special Assessment Capital
Project Fund - Improvement
Bonds Series 1986B
Construction Account
State-Aid Capital Project
Fund - State-Aid 1988B
Construction Account
State-Aid Capital Project Fund -
State-Aid Project Account
Special Assessment Bonds Debt
Service Fund - Improvement
Bonds Series 1980A Account
Special Assessment Bonds Debt
Service Fund - Refunding Bonds
Series 1986A Account
Total
NOTE 10 - INDIVIDUAL FUND DISCLOSURES
The following funds had deficits as of December 31, 1991:
Debt Service Funds
1991A G.O. Bonds
Certificates of Indebtedness
Capital Project Funds
1990 Equipment
Special Assessment
Amount Description
$ 1,194,951 To close Improvement Bonds
Series 1988A Construction
Account.
199,095 To close Improvement Bonds
Series 1986B Construction
Account.
17,519 To close State-Aid 1988B
Construction Account.
178 To close State-Aid 1989
Construction Account.
4,745 To close Improvement Bonds
Series 1980A Account.
To close Refunding Bonds Series
1986A Account.
66.889
$ 1,483,377
Fund
Deficit
$ 26,270
$ 4,980
$ 9,313
$ 743,522
The deficits in the Debt Service Funds will be financed through future years' tax levies. The deficit in
the Special Assessment Capital Project Fund will be financed through General Obligation Bonds to be
issued in 1992. The deficit in the 1990 Equipment Capital Project Fund will be financed through a
reimbursement from the Stale of Minnesota.
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CITY OF ANDOVER
Notes to Financial Statements (continued)
December 31, 1991
NOTE 10 - INDIVIDUAL FUND DISCLOSURES (CONTINUED)
For various reasons, certain funds have a portion of their fund equity designated for specific purposes.
A discussion of each such item as it appears on the Combined Balance Sheet follows:
o
Reserved for Debt Service - These amounts represent fund balances which are presently
committed to provide financial resources to pay principal and interest on the City's General
Obligation Bonds and Certificates of Indebtedness.
o
Designated for Working Capital - This amount represents funds set aside by the City to provide
positive cash flow for the next fiscal year.
o
Designated for Capital Projects - These amounts represent assets which are presently committed
to construct various capital projects or acquire major capital items.
o
Designated for Equipment - This amount represents assets which are presently committed for the
purchase of equipment.
For 1991, expenditures at the fund level exceeded appropriations as follows:
Amount
Over Budget
Debt Service Funds
1991A G.O. Bonds $
State-Aid Bonds
Special Assessment Bonds
72,813
297
410,840
NOTE 11 - DEFINED BENEFIT PENSION PLANS - STATEWIDE
A. Plan Description
All full-time and certain part-time employees of the City of Andover are covered by defined benefit
pension plans administered by the Public Employees' Retirement Association of Minnesota (PERA).
PERA administers the Public Employees' Retirement Fund (PERF) and the Public Employees' Police and
Fire Fund (PEPFF) which are cost-sharing, multiple-employer retirement plans. PERF members belong
to either the Coordinated Plan or the Basic Plan. Coordinated members are covered by Social Security
and Basic members are not. All new members must participate in the Coordinated Plan. All police
officers, fire fighters, and peace officers who qualify for membership by Statute are covered by the
PEPFF. The payroll for employees covered by PERF for the year ended December 31, 1991 was
$675,630. The City has no employees covered by PEPFF. The City's total payroll was $797,550.
-28-
CITY OF ANDOVER
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Notes to Financial Statements (continued)
December 31, 1991
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NOTE 11- DEFINED BENEFIT PENSION PLANS - STATEWIDE (CONTINUED)
PERA provides retirement benefits as well as disability benefits to members, and benefits to survivors
upon the death of eligible mt~mbers. Benefits are established by State Statute, and vest after three years
of credited service. The defined retirement benefits are based on a member's average salary for any five
successive years of allowable service, age, and years of credit at termination of service. Two methods
are used to compute benefits for Coordinated and Basic members. The retiring member receives the
higher of step-rate benefit accrual formula (Method 1) or a level accrual formula (Method 2). Under
Method 1, the annuity accrual rate for a Basic member is 2.0% of the average salary for each of the first
ten years of service and 2.5% for each remaining year. For a Coordinated member, the annuity accrual
rate is 1.0% of the average salary for each of the first ten years and 1.5% for each remaining year.
Using Method 2, the annuity accrual rate is 2.5% of the average salary for Basic members and 1.5% for
Coordinated members. For PEPFF members, the annuity accrual rate is 2.5% for each year of service.
For PERF members whose annuity is calculated using Method 1, and for all PEPFF members, a full
annuity is available when age plus years of service equal 90.
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There are different types of annuities available to members upon retirement. A normal annuity is a
lifetime annuity that ceases upon the death of the retiree. No survivor annuity is payable. There are also
various types of joint and survivor annuity options available which will reduce the monthly normal
annuity amount, because the annuity is payable over joint lives. Members may also leave their
contributions in the fund upon termination of public service, in order to qualify for a deferred annuity
at retirement age. Refunds of contributions are available at any time to members who leave public
service, but before retirement benefits begin.
Minnesota Statutes Chapter 353 sets the rates for employer and employee contributions. The City makes
annual contributions to the pension plans equal to the amount required by State Statutes. According to
Minnesota Statutes Chapter 356.215, Subdivision 4(g), the date of full funding required for the PERF
and PEPFF is the year 2020. As part of the annual actuarial valuation, PERA's actuary determines the
sufficiency of the statutory contribution rates towards meeting the required full funding deadline. The
actuary compares the actu<~ contribution rate to a "required" contribution rate. Current combined
statutory contribution rates and actuarially required contribution rates for the plans are as follows:
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PERF (Basic and Coordinated Plans)
PEPFF
4.44%
8.00%
4.81 %
12.00%
10.04%
17.56%
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Rates
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CITY OF ANDOVER
Notes to Financial Statements (continued)
December 31, 1991
NOTE 11 - DEFINED BENEFIT PENSION PLANS - STATEWIDE (CONTINUED)
Total contributions made by the City during fiscal year 1991 were:
Amounts
Employees Employer
Percentage of
Covered Payroll
Employees Employer
PERF
$ 28.579
$ 30.268
4.23%
4.48%
The City's contribution for the year ended December 31, 1991 to the PERF represented 0.03 % of total
contributions required of all participating entities.
C. Funding Status and Progress
1. Pension Benefit Obligation
The "pension benefit obligation" is a standardized disclosure measure of the present value of
pension benefits, adjusted for the effects of projected salary increases and step-rate benefits,
estimated to be payable in the future as a result of employee service to date. The measure, which
is the actuarial present value of credited projected benefits, is intended to help users assess
PERA's funding status on a going-concern basis, assess progress made in accumulating sufficient
assets to pay benefits when due, and make comparisons among Public Employees' Retirement
Systems and among employers. PERA does not make separate measurements of assets and
pension benefit obligation for individual employers.
The pension benefit obligations as of June 30, 1991 are shown below:
PERF PEPFF
(In Thousands)
Total pension
benefit obligation
$ 4,458,010 $ 732,911
Net assets available
for benefits, at cost
(market values for
PERF = $3,662,769;
PEPFF = $872,430)
3.524.071
823.125
Unfunded (assets in
excess of) pension
benefit obligation
$
933.939 $ (90.214)
The measurement of the pension benefit obligation is based on an actuarial valuation as of
June 30, 1991. Net assets available to pay pension benefits were valued as of June 30, 1991.
-30-
CITY OF ANDOVER
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Notes to Financial Statements (continued)
December 31, 1991
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During the 1991 L(~gislative Session, benefit improvements were obtained for survivors of
members in the Bask Plan and the Police and Fire Fund. In the Basic Plan, the maximum family
death benefit was inereased from $1,000 per month to 70% of the member's average salary. In
the Police and Fire Fund, children's benefits were restored for families of disabled members who
had chosen the joint and survivor annuity option before death. The effect of these changes
increased the pension benefit obligation in the PERF by $4,016,869 and had essentially no effect
on the pension benefit obligation in the PEPFF.
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NOTE 11 - DEFINED BENEFIT PENSION PLANS - STATEWIDE (CONTINUED)
2. Changes in Benefit Provisions
D. Ten-Year Historical Trend Information
Ten-year historical trend information is presented in PERA's Comprehensive Annual Financial Report
for the year ended June 30, 1991. This information is useful in assessing the pension plan's accumulation
of sufficient assets to pay pe:nsion benefits as they become due.
E. Related Party Investments
As of June 30, 1991, and for the fiscal year then ended, PERA held no securities issued by the City or
other related parties.
NOTE 12 - DEFINED CONTRIBUTION PLAN - FIRE FIGHTERS' RELIEF ASSOCIATION
A. Plan Description
Cj
Members of the City's volunteer fire department are members of the Andover Fire Fighters' Relief
Association. The Association is a single-employer defined contribution plan that was established in 1979,
and operates under the provisions of Minnesota Statutes Sections 69 and 424A, as amended. It is
governed by a Board consisting of six officers and trustees elected by the members of the Association for
three-year terms. The City Mayor, City Clerk, and Fire Chief are ex-officio members of the Board of
Trustees. The payroll for City employees who are members of the Association for the year ended
December 31, 1991 was $77,284. The City's total payroll was $797,550.
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For financial reporting purposes, the Association's financial statements are not included in the City of
Andover's financial statements because the Association is not a component unit of the City.
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B. Pension Benefits
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Minnesota State Statutes Chapters 424 and 424A authorize pension benefits for volunteer fire relief
associations. A fire fighter who completes at least 20 years as an active member of the municipal fire
department to which the Association is associated, and has been a member of the Relief Association for
at least 10 years prior to retirement after age 50, is entitled to a service pension upon retirement.
-31-
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CITY OF ANDOVER
Notes to Financial Statements (continued)
December 31, 1991
NOTE 12 - DEFINED CONTRIBUTION PLAN - FIRE FIGHTERS' RELIEF ASSOCIATION
(CONTINUED)
The service pension prescribed by the Association's by-laws is a lump sum settlement equal to the amount
in the individual member's account at the time of retirement. The individual member accounts are
credited with an equal share of: any fire State-aid received by the Association, any municipal
contributions to the Association, and any other assets of the Association's Special Pension Fund.
The by-laws of the Association also provide for a reduced service pension for a retiring member who has
completed fewer than 20 years of service. The reduced pension, available to members with 10 years of
service, shall be equal to 60% of the pension as prescribed by the by-laws. This percentage increases
4% per year so that at 20 years of service, the full amount prescribed is paid.
A member of the Association who has completed 20 or more years of active service with the fire
department prior to reaching age 50, has the right to retire from the department without forfeiting the
right to a service pension. The member shall be placed on the deferred pension roll. Upon reaching age
50, the member may apply for the standard service pension as described above. The Association shall
pay interest on the deferred service pension during the period of deferral. The interest rate will be
compounded annually, at the rate actually earned on the assets of the Pension Fund, not to exceed 5%
per year.
An active member of the Association who becomes disabled to the extent that a physician shall certify
that such disability will permanently prevent the member from performing his duties in the Andover Fire
Department, is entitled to a disability pension equal to the balance in the member's account after 100 days
of disability. If a member who has received such a disability pension should subsequently recover and
return to active duty in the Andover Fire Department, any amount paid to him as a disability pension
shall be deducted from his service pension accrued at the time of such disability.
Upon the death of any member of the Association who is in good standing at the time of his death, the
Association shall pay the member's spouse, children, or estate the balance of the member's account at
the date of payment.
The City of Andover has the power to levy property taxes at the direction and for the benefit of the
Association, and passes through State aids allocated to the plan, in accordance with enabling State
Statutes.
C. Contributions Required and Contributions Made
The City's contributions under the plan, determined by the Association's Board of Trustees and ratified
by the City Council in accordance with enabling State Statutes, is $350 per member per year.
In 1991, the City contributed $43,547 to the Association, consisting of $33,047 State aid and $10,500
fulfilling the City's $350 per member contribution obligation for the year ended December 31, 1991.
The City's contribution represents 13.59% of covered payroll.
-32-
CITY OF ANDOVER
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Bonds Outstanding - End of Year
Tax Increment Tax Increment
District - District -
Development Development
District No. 1-1 District No. 1-2
Redevelopment Redevelopment
472 472
1986 1986
2012 2012
$ 41,291 $ 28,929
$ 394,731 $ 240,417
$ 353,440 $ 211,488
$ 205,000 $ 1,065,000
205.000 50.000
$ $ 1.015.000
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Notes to Financial Statements (continued)
December 31, 1991
NOTE 13 - TAX INCREMENT FINANCING DISTRICTS
The City is the administering authority for the following tax increment financing districts within their
respective Development Districts:
Type of District
Chapter
Year Established
Final year of District
Original Tax Capacity
Current Tax Capacity (For Taxes Collectible in 1991)
Captured Tax Capacity Retained by Authority
Total Tax Increment BOJIlds Issued
Amounts Redeemed
NOTE 14 - STATEMENT OF REVENUE AND EXPENDITURES - BUDGET AND ACTUAL
The City did not adopt budgets for all Debt Service Funds (or accounts). Accordingly, the applicable
columns of the Combined Statement of Revenue and Expenditures - Budget and Actual includes actual
revenues, expenditures, and other financing sources and uses for only budgeted Debt Service Funds (or.
accounts). A reconciliation of the amounts to the total for all Debt Service Fund is as follows:
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CITY OF ANDOVER
Notes to Financial Statements (continued)
December 31, 1991
NOTE 14 - STATEMENT OF REVENUE AND EXPENDITURES - BUDGET AND ACTUAL
(CONTINUED)
Debt Service Funds
Budgeted funds and accounts
Unbudgeted funds and accounts
Special Assessment Bonds Fund
Water Trunk Account
Sewer Trunk Account
1991B G.O. Bonds Account
Other
Financing
Revenues Expenditures Sources (Uses)
$ 3,640,804 $ 9,098,587 $ 3,742,624
73,760 11,123 (187,787)
35,874 (172,211)
317 .471 113,005
$ 4,067.909 $ 9,222,715 $ 3.382,626
NOTE IS - COMMITMENTS AND CONTINGENCIES
A. Commitments for Construction
At December 31,1991, the City is committed to a number of contracts for various construction projects
that were not completed by year-end. The City's remaining commitment under such contracts is
approximately $75,000.
B. Federal Revenue
Amounts received or receivable from federal agencies are subject to agency audit and adjustment. Any
disallowed claims, including amounts already collected, may constitute a liability of the applicable funds.
The amount, if any, of funds which may be disallowed by the agencies cannot be determined at this time,
although the City expects such amounts, if any, to be immaterial.
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CTIY OF ANOOVER
General Fund
Comparative Balance Sheet
As of December 31,1991 and 1990
Assets
Cash and temporary investments
Receivables
Accounts
Accrued interest
Delinquent taxes
Delinquent special assessments
Deferred special assessments
Due from other governmental units
Total assets
liabilities and Fund Balance
liabilities
Accounts payable
Accrued expenses
Due to other governmental units
Deferred revenue
Total liabilities
Fund balance
Unreserved
Designated for working capital
Designated for equipment
Total fund balance
Total liabilities and fund balance
-35-
1991
1990
$ 734,344 $ 668,387
20,713 23,715
6,407 4,997
38,304 35,155
350
7,102 350
73,834 80,670
$ 881,054 $ 813,274
$ 58,113
32,361
74,217
45,756
210,447
668,121
2,486
670,607
$ 881,054
$ 71,788
29,852
58,361
35,505
195,506
617,768
617,768
$ 813,274
CITY OF ANDOVER
General Fund
Statement of Revenue, Expenditures, and Changes in Fund Balance
Budget and Actual
Year Ended December 31,1991
(with Comparative Actual Amounts for Year Ended December 31, 1990)
Revenue
Taxes ad valorem
1991 1990
Over
(Under)
Budget Actual Budget Actual
$ 1,072,643 $ 1,017,774 $ (54,869) $ 911,255
223,710 230,298 6,588 212,793
Licenses and permits
Intergovernmental revenue
Federal
CDBG
State
Local government aid
HACA and other tax credits
Street maintenance
Fire department aid
Other
Total intergovern-
mental revenue
37,667 37,667 66,919
45,455 45,529 74 102,657
337,572 372,110 34,538 335,007
122,000 87,487 (34,513) 22,600
22,000 33,047 11,047 21,619
65,172 64,478 (694) 67,920
592,199 640,318 48,119 616,722
17,850 22,749 4,899 18,186
51,500 56,375 4,875 54,521
3,000 3,480 480 3,255
72,350 82,604 10,254 75,962
59,000 31,750 (27,250) 46,650
30,000 27,248 (2,752) 28,147
30,000 37,119 7,119 38,480
6,143 6,923 780 3,433
66,143 71,290 5,147 70,060
2,086,045 2,074,034 (12,011) 1,933,442
Charges for services
General government
Street lights
Utility Funds
Total charges for services
Fines and forfeits
Other revenue
Interest earned on investments
Refunds and reimbursements
Miscellaneous
Total other revenue
Total revenue
Expenditures
General government
Council
Personal services
Supplies
Other services and charges
Total council
20,676
200
13,232
34,108
14,834
286
17,974
33,094
(5,842)
86
4,742
(1,014)
14,675
99
12,839
27,613
(continued)
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J I General Fund (continued)
! Statement of Revenue, Expenditures, and Changes in Fund Balance
;0 I Budget and Actual
1 Year Ended December 31,1991
j (with Comparative Actual Amounts for Year Ended December 31, 1990)
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j I 1991 1990
Over
I I (Under)
Budget Actual Budget Actual
~ I Expenditures (continued)
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~ General government (continued)
- Mayor
I Personal services 4,200 4,509 309 4,200
~ Supplies 32
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Total mayor 4,200 4,509 309 4,232
- I Elections
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- Personal services 2,764 2,764 9,095
Supplies 39 39 726
I Other services and charges 32 32 296
- Total elections 2,835 2,835 10,117
- I Newsletter
- Personal services 701 1,056 355 454
Other services and charges 6,130 2,050 (4,080) 5,522
I Total newsletter 6,831 3,106 (3,725) 5,976
Administration
I Personal services 98,206 99,628 1,422 96,059
Supplies 1,600 1,031 (569) 1,292
Other services and charges 5,365 7,105 1,740 5,537
Total administration 105,171 107,764 2,593 102,888
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Financial administration
Personal services 97,231 96,221 (1,010) 95,994
I Supplies 1,200 990 (210) 2,742
Other services and charges 4,460 5,071 611 1,728
Capital outlay 110
I Total financial
administration 102,891 102,282 (609) 100,574
I Assessing
Other services and charges 31,500 33,621 2,121 28,707
I Consulting staff
Auditing 10,000 10,255 255 12,185
Legal 60,300 52,981 (7,319) 60,184
I Total consulting staff 70,300 63,236 (7,064) 72,369
(continued)
I -37-
CITY OF ANDOVER
General Fund (continued)
Statement of Revenue, Expenditures, and Changes in Fund Balance
Budget and Actual
Year Ended December 31,1991
(with Comparative Actual Amounts for Year Ended December 31, 1990)
Expenditures (continued)
General government (continued)
Planning and zoning
Personal services
Supplies
Other services and charges
Total planning and zoning
Data processing
Supplies
Capital outlay
Total data processing
Buildings
Administration building
Personal services
Supplies
Other servicl:s and charges
Capital outlay
Total administra-
tion bl~ilding
Fire department building
Personal services
Supplies
Other services and charges
Capital outlay
Total fire depart-
ment building
Public works building
Personal services
Supplies
Other servic,es and charges
Capital outIa,y
Total public works building
"- ~
1991
1990
Budget
Actual
Over
(Under)
Budget
Actual
42,557 45,455 2,898 46,458
1,500 1,395 (105) 1,616
6,645 5,087 (1,558) 7,325
50,702 51,937 1,235 55,399
15,195 16,590 1,395 9,737
3,900 4,516 616 8,819
19,095 21,106 2,011 18,556
4,963 7,393 2,430 6,842
3,550 4,438 888 2,542
21,200 20,593 (607) 22,434
7,963 7,761 (202) 896
37,676 40,185 2,509 32,714
460 364 (96) 678
1,430 1,163 (267) 781
12,300 15,885 3,585 9,884
506 506
14,190 17,918 3,728 11,343
1,378 5,579 4,201 5,243
3,000 2,308 (692) 2,844
19,222 16,652 (2,570) 17,203
6,767 6,767 15,017
23,600 31,306 7,706 40,307
(continued)
-38-
-- ---~ ---~ ---
..
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1 I
i CITY OF ANDOVER
J I General Fund (continued)
t Statement of Revenue, Expenditures, and Changes in Fund Balance
-
-
1 I Budget and Actual
;j Year Ended December 31,1991
i (with Comparative Actual Amounts for Year Ended December 31, 1990)
J I
1 1991 1990
I
Over
I (Under)
Budget Actual Budget Actual
w I Expenditures (continued)
3 General government (continued)
Buildings (continued)
,. I Senior citizen center
I Personal services 2,125 631 (1,494) 1,080
Supplies 600 423 (177) 63
- I Other services and charges 6,910 5,822 (1,088) 5,833
Total senior citizen center 9,635 6,876 (2,759) 6,976
-
I Storage building
- Supplies 360 23 (337) 158
Other services and charges 3,233 1,838 (1,395) 1,929
Capital outlay 2,952
I Total storage building 3,593 1,861 (1,732) 5,039
Total buildings 88,694 98,146 9,452 96,379
I Engineering
Personal services 60,440 52,566 (7,874) 56,165
I Supplies 3,615 2,341 (1,274) 3,064
Other services and charges 7,110 3,254 (3,856) 11,739
Total engineering 71,165 58,161 (13,004) 70,968
I Total general government 584,657 579,797 (4,860) 593,778
I Public safety
Police protection
Supplies 100 (100) 38
Other services and charges 403,978 403,354 (624) 394,730
I Total police protection 404,078 403,354 (724) 394,768
Fire protection
I Personal services 105,445 107,216 1,771 71,409
Supplies 36,002 28,783 (7,219) 28,838
Other services and charges 56,950 52,737 (4,213) 66,954
I Relief Association 33,200 43,547 10,347 29,119
Capital outlay 1,708 1,708 1,560
Total fire protection 231,597 233,991 2,394 197,880
I
I -39- (continued)
0
! :
CITY OF ANDOVER
General Fund (continued) U
Statement of Revenue, Expenditures, and Changes in Fund Balance
Budget and Actual C
Year Ended December 31,1991
(with Com.parative Actual Amounts for Year Ended December 31, 1990)
1991 1990 C !
Over
(Under) C
Budget Actual Budget Actual
Expenditures (continued) C
Public safety (continued)
Rescue service
Personal services 15,586 18,921 3,335 16,536 C
Supplies 4,956 4,021 (935) 3,025
Other services and charges 16,515 8,273 (8,242) 9,549
Total rescue service 37,057 31,215 (5,842) 29,110
W
Protective inspection
Personal services 115,776 115,825 49 111,757
Supplies 7,629 6,369 (1,260) 6,926 W
Other services and charges 4,125 3,106 (1,019) 3,283
Capital outlay 582
Other 74 ~
Total protective inspection 127,530 125,300 (2,230) 122,622
Civil defense C
Supplies 1,250 74 (1,176)
Other services and charges 1,050 1,357 307 543
Total civil defense 2,300 1,431 (869) 543 C
Animal control
Personal services 280 280 111
Supplies 98 98 150 C
Other services and charges 9,096 9,724 628 9,730
Total animal control 9,096 10,102 1,006 9,991
Total p'~blic safety 811,658 805,393 (6,265) 754,914 C
Public works C
Streets and highways
Personal services 89,535 86,255 (3,280) 77,069
Supplies 22,911 27,590 4,679 18,476 C
Other services aDld charges 31,677 26,964 (4,713) 25,696
Capital outlay 69,665 17,224 (52,441) 23,326
Total streets and highways 213,788 158,033 (55,755) 144,567 C
C
-40- (continued)
C
-~-- ~I- - ----- - >->- , --- ---
-
! I
CITY OF ANDOVER
- I General Fund (continued)
Statement of Revenue, Expenditures, and Changes in Fund Balance
I Budget and Actual
Year Ended December 31,1991
(with Comparative Actual Amounts for Year Ended December 31, 1990)
I 1991 1990
Over
-I (Under)
Budget Actual Budget Actual
I Expenditures (continued)
Public works (continued)
Snow and ice removal
I Personal services 65,318 58,057 (7,261) 32,355
Supplies 42,746 57,375 14,629 33,550
Other services and charges 14,288 15,497 1,209 12,227
I Capital outlay 283
Total snow and
ice removal 122,352 130,929 8,577 78,415
I Street lighting
Other services and charges
City 15,000 14,067 (933) 13,445
I Billable 38,000 42,038 4,038 37,069
Total street lighting 53,000 56,105 3,105 50,514
I Street signs/signals
Personal services 18,210 13,574 (4,636) 22,609
Supplies 12,700 6,276 (6,424) 5,025
I Other services and charges 3,696 7,542 3,846 3,368
Capital outlay 1,679 1,679 2,548
Total street signs/signals 34,606 29,071 (5,535) 33,550
I Total public works 423,746 374,138 (49,608) 307,046
Sanitation
I Storm sewers
Personal services 17,574 7,715 (9,859) 17,185
Supplies 3,187 1,577 (1,610) 1,957
I Other services and charges 2,060 295 (1,765) 255
Capital outlay 283
Total storm sewers 22,821 9,587 (13,234) 19,680
I Trees and weed control
Personal services 4,731 4,581 (150) 9,186
I Supplies 660 105 (555) 106
Other services and charges 4,085 558 (3,527) 196
Total trees and weed control 9,476 5,244 (4,232) 9,488
I Total sanitation 32,297 14,831 (17,466) 29,168
I -41- (continued)
~
I
CIlY OF ANDOVER ..
..
General Fund (continued) ~
Statem'~nt of Revenue, Expenditures, and Changes in Fund Balance
Budget and Actual ~
Year Ended December 31, 1991
WI
(with Comparative Actual Amounts for Year Ended December 31, 1990) .
1991 1990 ~
Over
(Under) ~
Budget Actual Budget Actual
Expenditures (continued) r
Parks and recreation
Personal services 76,373 96,825 20,452 82,917 ..
Supplies 20,290 22,194 1,904 18,367 ~
Other services and charges 18,593 19,114 521 23,298
Community education programs 41,141 36,658 (4,483) 39,658 ill
Assessments 17,800 21,390 3,590 21,388
Capital outlay 45,700 48,916 3,216 75,821 C
Total parks
and wcreation 219,897 245,097 25,200 261,449
Recycling C
Personal services 14,750 10,841 (3,909) 10,581
Supplies 2,225 1,548 (677) 1,358 C
Other services and charges 11,300 11,654 354 7,164
Capital outlay 8,854 22,728 13,874 20,464
Total recycling 37,129 46,771 9,642 39,567
~
; \
Economic development
Personal services 15,344 17,058 1,714 14,056
Supplies 300 238 (62) 140 C
Other services and ch21rges 900 151 (749) 93
Total e<:onomic
development 16,544 17,447 903 14,289 C
Unallocated
CDBG 36,082 36,082 71,832 C
Metropolitan Waste Control Commission 2,873 2,872 (1) 4,300
Insurance 20,050 27,030 6,980 26,602
LRRWMOO 2,800 2,540 (260) 2,019 C
SiteQ 10,000 2,075 (7,925) 19,786
Crooked Lake cleanup 190
Miscellaneous 850 1,922 1,072 4,860 C
Contingency 43,544 (43,544)
Total unallocated 80,117 72,521 (7,596) 129,589
Total expenditures 2,206,045 2,155,995 (50,050) 2,129,800 C
Excess (deficiency) of
revenue over expenditures (120,000) (81,961) 38,039 (196,358) C
-42- ( continued)
C
~- - ----- - - - --- ---------- - - --- ---r.:::;~1 - - -
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CITY OF ANDOVER
General Fund (continued)
Statement of Revenue, Expenditures, and Changes in Fund Balance
Budget and Actual
Year Ended December 31, 1991
(with Comparative Actual Amounts for Year Ended December 31, 1990)
1991 1990
Over
(Under)
Budget Actual Budget Actual
Other financing sources
Operating transfers in
Debt Service Funds 30,000 30,000
Capital Project Funds 6,000
Administrative Trust Fund 90,000 104,800 14,800 182,318
Total other financing sources 120,000 134,800 14,800 188,318
Excess (deficiency) of
revenue and other
financing sources
over expenditures $ 52,839 $ 52,839 (8,040)
Fund balance
Beginning of year 617,768 614,903
Residual equity transfers in 10,905
End of year $ 670,607 $ 617,768
-43-
CITY OF ANDOVER
Special Revenue Funds
Combining Balance Sheet
As of December 31,1991 .
(with Comparative Totals as of December 31, 1990)
lRRWMO
Assetl,
Cash and temporary investments
Receivables
Accrued interest
Delinquent special assessments
$ 5,186
935
Total assets
$ 6,121
liabilities and Flmd Balance
liabili ti es
Accounts payable
Deferred revenue
Total liabilities
$
Fund balance
Unreserved
Undesignated
6,121
Total liabilities
and fund balance
$ 6,121
-44-
- ~;::- -~--=- -=-1
Draining
and
Mapping
$ 60,906
$ 61,017
$ 405
21
426
60,591
$ 61,017
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1991 1990
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$ 66,092 $ 64,464
1,025 948
21 24
90
21
$ 67,138
$ 405
21
426
66,712
$ 67,138
$ 65,436
$
24
24
65,412
~
$ 65,436
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CITY OF ANDOVER
Special Revenue Funds
Combining Statement of Revenue, Expenditures, and Changes in Fund Balance
Year Ended December 31, 1991
(with Comparative Totals for Year Ended December 31, 1990)
Drainage
and Totals
LRRWMO Mapping 1991 1990
Revenue
Special assessments $ $ 3 $ 3 $ 3
Other revenue
Interest earned on investments 1,241 3,497 4,738 5,772
Total revenue 1,241 3,500 4,741 5,775
Expenditures
Public works
Other services and charges 11,643 11,643 2,547
Excess (deficiency) of
revenue over expenditures 1,241 (8,143) (6,902) 3,228
Other financing sources
Operating transfers in
Capital Project Funds 8,202 8,202 1,801
Excess of revenue and
other financing sources
over expenditures 1,241 59 1,300 5,029
Fund balance
Beginning of year 4,880 60,532 65,412 60,383
End of year $ 6,121 $ 60,591 $ 66,712 $ 65,412
-45-
CTIY OF ANDOVER
Debt Service Funds
Combining Balance Sheet
As of December 31, 1991
(with Comparative Totals as of December 31,1990)
1991A
G.O.
Bonds
Assets
Cash and temporary investments
Receivables
Accrued interest
Delinquent taxes
Delinquent special assessments
Deferred special assessments
Due from other governmental units
Due from developer
$
95
Total assets
$ 95
Uabilities and Fund Balance
Uabilities
Cash deficit
Accounts payable
Accrued expenses
Due to other governmental units
Deferred revenue
Arbitrage rebate
Total liabilities
$ 26,365
26,365
Fund balance (deficit)
Reserved for debt service
Unreserved
Undesignated
Total fund balance (deficit)
(26,270)
(26,270)
$ 95
Total liabilities and fund balance
-46-
- I -
Certificates
of
Indebtedness
$
4,091
1,548
$ 5,639
$ 5,657
871
4,091
10,619
(4,980)
(4,980)
$ 5,639
~...=--r---
~
~
~
..
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Aid
Bonds
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$ 11,999
76
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$ 12,075
~
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$
12,075
12,075
$ 12,075
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).
J I Tax Special
- Increment Assessment Totals
II Bonds Bonds 1991 1990
-
! I $ 1,160,011 $ 8,623,207 $ 9,795,217 $ 10,155,600
~ I 17,650 147,884 165,705 157,301
21,927 26,018 45,466
- 71,691 245,318 317,009 194,540
~ I 5,993,429 5,993,429 7,984,891
16,355 910,597 928,500 1,147,785
216,490 216,490 229,051
-I $ 1,504,124 $ 15,920,435 $ 17,442,368 $ 19,914,634
;1
$ $ $ 32,022 $ 8,674
I 9,677 9,677 11,948
2,893 3,764 4,054
26 26
I 310,108 7,133,114 7,447,313 9,501,760
11,137 11,137
310,108 7,156,847 7,503,939 9,526,436
I
1,194,016 8,763,588 9,969,679 10,395,982
I (31,250) (7,784)
1,194,016 8,763,588 9,938,429 10,388,198
I $ 1,504,124 $ 15,920,435 $ 17,442,368 $ 19,914,634
I
I
I
I -47-
fI!
mY OF ANDOVER ..
Debt SeIVice Funds 0
Combining Statemmt of Revenue, Expenditures, and Changes in Fund Balance
Year Ended December 31, 1991
(with Comparative Totals for Year Ended December 31, 1990) C
1991A Certificates State-
G.O. of Aid C
Bonds Indebtedness Bonds
Revenue
Taxes ad valorem $ $ 86,585 $ 0
Tax increments
Special assessments
Intergovernmental revenue
State aids 142,400 C
HACA and other tax credits 32,692
County reimbursemc:,nts
Other revenue C
Interest earned on investments 24,666 862
Sale of land
Miscellaneous 6,877
Total revenue 31,543 119,277 143,262 ~
Expenditures
Debt seIVice ~
PrincipiI retirement 125,000 100,000
Interest 72,813 29,103 43,900 ..
Arbitrage rebate
Other 1,297 ~
Total expenditures 72,813 154,103 145,197
Excess (deficiency) of ~
revenue over expenditures (41,270) (34,826) (1,935)
Other financing sources (uses)
Bonds proceeds 15,000 C
Operating transfers in
Debt SeIVice Funds
Capital Project Funds C
Enterprise Funds 37,630
Operating transfers (out)
General Fund
Debt SeIVice Funds C
Capital Project Funds
Enterprise Funds
Total other financing sources (uses) 15,000 37,630 C
Excess (deficillncy) of revenue and
other financing sources over expen- C
ditures and other financing uses (26,270) 2,804 (1,935)
Fund balance (deficit)
Beginning of year (7,784) 14,010 C
Residual equity transfers in
Residual equity transfers (out)
End of year $ (26,270) $ (4,980) $ 12,075 C
-48- C
-,---:=:-=---,-------c-,----:-- - - ----- ------ - ----~ -- ------=---------r;~ -- -~-
~
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I
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~ I
~
- Tax Special
I Increment Assessment Totals
- Bonds Bonds 1991 1990
I $ $ $ 86,585 $ 80,687
-
~ 544,544 544,544 449,064
=
- 5,166 2,382,352 2,387,518 3,169,799
- I 142,400 270,617
- 277 32,969 26,123
29,318
- I 68,614 666,807 760,949 1,092,470
55,627 55,627 5,000
25,867 24,573 57,317 24,808
- I 700,095 3,073,732 4,067,909 5,147,886
-
~
I 35,000 6,891,000 7,151,000 9,399,400
98,450 1,502,881 1,747,147 1,818,555
234,916 234,916
I 88,355 89,652 313,253
133,450 8,717,152 9,222,715 11,531,208
I 566,645 (5,643,420) (5,154,806) (6,383,322)
I 3,374,500 3,389,500 4,031,476
421,411 421,411 785,134
I 91,913 91,913 75,084
37,630
I (30,000) (30,000)
(421,411) (421,411) (785,134)
(75,918) (75,918)
(30,500) (30,500) (30,500)
I (30,000) 3,359,995 3,382,625 4,076,060
I 536,645 (2,283,42.';) (1,772,181) (2,307,262)
I 657,371 9,724,601 10,388,198 12,389,593
1,394,046 1,394,046 996,307
(71 ,634) (71,634) (690,440)
I $ 1,194,016 $ 8,763,588 $ 9,938,429 $ 10,388,198
I -49-
CITY OF ANOOVER
1991A G.O. Bonds Debt Service Fund
Statement of Revenue, Expenditures, and Changes in Fund Balance
Budget and Actual
Year Ended December 31,1991
Revenue
Interest earned on invfstments
Miscellaneous
Total revenue
Over
(Under)
Budget Actual Budget
$ $ 24,666 $ 24,666
6,877 6,877
31,543 31,543
Expenditures
Debt service
Interest
72,813
72,813
Excess (deficiency) of
revenue over expenditures
(41,270)
(41,270)
Other financing sources
Bond proceeds
15,000
(110,000)
125,000
Excess (deficiency) ofrevenue
and other :tinancing sources
over expenditures
$ 125,000
(26,270)
$ (151,270)
Fund balance (deficit)
Beginning of year
End of year
$ (26,270)
-50-
- ~oc--~-----,
----- t:-
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! I CITY OF ANOOVER
- I Certificates of Indebtedness Debt Service Fund
~
~ Statement of Revenue, Expenditures, and Changes in Fund Balance
- Budget and Actual
- I Year Ended December 31,1991
- (with CompuativeActual Amounts for Year Ended December 31,1990)
-
-
~
- I
-
-
1991 1990
I Over
- (Under)
-
Budget Actual Budget Actual
I Revenue
Taxes ad valorem $ 94,855 $ 86,585 $ (8,270) $ 80,687
I Intergovernmental revenue
HACA and other tax credits 25,000 32,692 7,692 25,254
Total revenue 119,855 119,277 (578) 105,941
I Expenditures
Debt service
I Principal retirement 125,000 125,000 95,000
Interest 32,485 29,103 (3,382) 14,974
Other 3,751
I Total expenditures 157,485 154,103 (3,382) 113,725
Excess (deficiency) of
I revenue over expenditures (37,630) (34,826) 2,804 (7,784)
Other financing sources
Operating transfers in
I Enterprise Funds 37,630 37,630
Excess (deficiency) of
I revenue and other financing
sources over expenditures $ 2,804 $ 2,804 (7,784)
I Fund balance (deficit)
Beginning of year (7,784)
I End of year $ (4,980) $ (7,784)
I
I
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I -51-
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CITY OF ANDOVER
State-Aid Bonds Debt Service Fund
Balance Sheet
As of December 31, 1991
(with Comparative Totals as of December 31,1990)
State-Aid
Bonds
of 1984
Account
Assets
Cash and temporary investments
Receivables
Accrued interest
$ 124
2
$ 126
Total assets
Fund Balance
Fund balance
Reserved for debt service
$ 126
-52-
State-Aid
Bonds
of 1988
Account
$ 11,875
74
$ 11,949
$ 11,949
Totals
1991 1990
$ 11,999 $ 13,851
76 159
$ 12,075 $ 14,010
$ 12,075 $ 14,010
CITY OF ANDOVER
State-Aid Bonds Debt Service Fund
Statement of Revenue, Expenditures, and Changes in Fund Balance
Budget and Actual
Year Ended December 31,1991
(with Compnative Actual Amounts for Year Ended December 31, 1990)
100,000 50,000 50,000 100,000
44,400 18,100 25,800 43,900
500 651 646 1,297
144,900 68,751 76,446 145,197
(500) (278) (1,657) (1,935)
Budget
State-Aid
Bonds
of 1984
Account
Revenue
Intergovernmental revenue
State aids
Other revenue
Interest earned on inv,estments
Total revenue
$ 144,400
$ 68,100
373
68,473
144,400
Expenditures
Debt service
Principal retirement
Interest
Other
Total expenditur,es
Excess (deficiency) of
revenue over expenditures
Other financing sources
Operating transfers in
Capital Project Funds
Excess (deficiency) of
revenue and other
financing sources
over expenditures
$ (500)
(278)
Fund balance
Beginning of year
404
End of year
$ 126
-53-
4-
1991
Actual
State-Aid
Bonds
of 1988
Account
$ 74,300
489
74,789
(1,657)
13,606
$ 11,949
>---"
Total
$ 142,400
862
143,262
(1,935)
14,010
$ 12,075
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1990
- I
-
Over
I (Under)
- Budget Actual
- I
~
$ (2,000) $ 149,350
-I 862 1,110
(1,138) 150,460
-I
100,000
I (500) 50,800
797 1,295
297 152,095
I
(1,435) (1,635)
I
I 1,706
I $ (1,435) 71
I 13,939
I $ 14,010
I
I
-54-
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- - I-
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I
I
CITY OF ANDOVER
Tax Increment Bonds Debt Service Fund
Balance Sheet
As of December 31, 1991
(with Comparative Totals as of December 31,1990)
TIP
Project
1-1
Account
TIP
Project
1-2
Account
Totals
1991 1990
Assets
Cash and temporary investments
Receivables
Accrued interest
Delinquent taxes
Delinquent special assessments
Deferred special assessments
Due from other governmental units
Due from developer
$ 765,870 $ 394,141 $ 1,160,011 $ 644,271
11,871 5,779 17,650 7,987
21,927 21,927 41,438
71,691 71,691
70,166
16,355 16,355 5,113
216,490 216,490 229,051
$ 887,714 $ 616,410 $ 1.504,124 $ 998,026
Total assets
Uabilities and Fund Balance
Uabilities
Deferred revenue
$ 93,618 $ 216,490
$ 310,108 $ 340,655
Fund balance
Reserved for debt service
794,096 399,920
1,194,016 657,371
Total liabilities
and fund balance
$ 887.714 $ 616,410
$ 1,504.124 $ 998,026
-55-
CITY OF ANDOVER
Tax Increment Bonds Debt Service Food
Statement of Revenue, Expenditures, and Changes in Food Balance
Budget and Actual
Year Ended December 31, 1991
(with Comparative Actual AmOOOts for Year Ended December 31, 1990)
Revenue
Tax increments
Special assessments
Intergovernmental revenue
HACA and other tax l:redits
Other revenue
Interest earned on investments
Sale ofland
Miscellaneous
Total revenue
1991
Actual
TIF TIP
Project Project
1-1 1-2
Budget ACCOoot Accooot
$ 227,000 $ 343,284 $ 201,260
5,166
55,000 277
29,500 47,566 21,048
55,627
25,867
311,500 451,643 248,452
Expenditures
Debt service
Principal retirement
Interest
Other
Total expenditures
Excess of revenue over expenditures
35,000 35,000
99,938 98,450
600
135,538 133,450
175,962 451,643 115,002
Other financing uses
Operating transfers (out)
General Food
(24,000)
(6,000)
Excess of revenue over
expenditures and
other financing uses
$ 175,962
427,643
109,002
Food balance
Beginning of year
366,453
$ 794,096
290,918
$ 399,920
End of year
-56-
-- no ------,::i==-r-- - -
~-
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- 1990
-
-
- I
~
Over
- I (Under)
~ Total Budget Actual
- I
- $ 544,544 $ 317,544 $ 449,064
5,166 5,166
-
- I
277 (54,723) 869
~I 68,614 39,114 51,240
55,627 55,627 5,000
25,867 25,867 23,877
,I 700,095 388,595 530,050
I 35,000 220,000
98,450 (1,488) 118,617
(600) 757
I 133,450 (2,088) 339,374
566,645 390,683 190,676
I
I (30,000) (30,000)
I 536,645 $ 360,683 190,676
I 657,371 466,695
I $ 1,194,016 $ 657,371
I
I -57-
CITY OF ANDOVER
Special Assessment Bonds Debt SelVice Fund
Balance Sheet
As of December 31, 1991
(with Comparative Totals as of December 31,1990)
Assets
Cash and temporary investments
Receivables
Accrued interest
Delinquent special assessments
Deferred special assessments
Due from other govern-
mental units
Total assets
Uabilities and
Fund Balance
Uabilities
Accounts payable
Accrued expenses
Due to other govemmenta![ units
Deferred revenue
Arbitrage rebate
Total liabilities
Fund balance
ReselVed for debt selVice
Total liabilities
and fund balance
--C:-=O:;--- ----=--=--:::-:j
Improvement
Bonds Series
1977A
Account
$ 725,117
13,434
1,723
249,546
1,482
$ 991,302
$
251,269
251,269
740,033
$ 991,302
-58-
Improvement
Bonds of
1978
Account
$ 143,854
2,430
53,682
$ 199,966
$
53,682
53,682
146,284
$ 199,966
Improvement
Bonds of
1979
Account
$ 104,145
1,737
31,053
201
$ 137,136
$
31,053
31,053
106,083
$ 137,136
Improvement
Bonds Series
1980A
Account
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~_l
?r
�r
=r
' r Improvement Improvement Improvement Improvement Improvement Refunding
r Bonds Series Bonds Series Bonds Series Bonds Series Bonds Series Bonds Series
1980C 1985A 1985B 1986A 1986B 1986A
Account Account Account Account Account Account
�r
$ 10,686 $ 317,802 $ 1,246,006 $ 1,350,725 $ 40,921 $ -
r 186 5,421 20,766 23,384 3,402 -
- - 11,929 3,041 2,051 -
r - 43,208 535,346 41,028 89,401 -
- - 3,579 323 - -
r $ 10,872 $ 366,431 $ 1,817,626 $ 1,418,501 $ 135,775 $ -
r
r - $ - $ - $ - $ - -
- - 2,893 -
r - - - - 547 18 -
43,208 ,275 44,069 91,453
- 43,208 547,275 44,069 94,364 -
r
10,872 323,223 1,270,351 1,374,432 41,411 -
r
$ 10.872 $ 366,431 $ 1,817,626 $ 1,418,501 $ 135,775 $ -
r
r
r
r (continued)
-59-
CITY OF ANOOVER
Special Assessment Bonds Debt Service Fund (continued)
Balance Sheet
As of December 31,1991
(with Comparative Totals as of December 31, 1990)
Refunding Improvement Improvement Improvement
Bonds Series Bonds of Bonds of Bonds Series
1986C 1988 1989 1990A
Account Account Account Account
Assets
Cash and temporary investments $ 1,864,117 $ $ 289,351 $ 964,072
Receivables
Accrued interest 31,197 4,488 17,752
Delinquent special assessments 57,803 41,326 68,285
Deferred special assessments 1,058,732 514,668 1,456,181
Due from other govern-
mental units 5,825 64,726
Total assets $ 3,017,674 $ $ 849,833 $ 2,571,016
liabilities and
Fund Balance
liabilities
Accounts payable $ $ $ 8 $ 28
Accrued expenses
Due to other governmental units
Deferred revenue 1,116,535 555,994 1,584,520
Arbitrage rebate 9,528
Total liabilities 1,116,535 556,002 1,594,076
Fund balance
Reserved for debt service 1,901,139 293,831 976,940
Total liabilities
and fund balance $ 3,017,674 $ $ 849,833 $ 2,571,016
-60-
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- Improvement
Bonds Series 1991B Water Sewer
~ I 1990B G.O. Bonds Trunk Trunk Totals
-
~ Account Account Account Account 1991 1990
- I
$ 53,771 $ 204,814 $ 853,119 $ 454,707 $ 8,623,207 $ 9,497,478
- I 1,190 959 13,479 8,059 147,884 149,155
1,054 57,792 314 245,318 194,540
-I 342,962 1,557,229 9,196 11,197 5,993,429 7,914,725
265,458 568,875 128 910,597 1,141,178
-I $ 664,435 $ 2,389,669 $ 875,794 $ 474,405 $ 15,920,435 $ 18,897,076
I
I $ $ 1,299 $ 8,342 $ $ 9,677 $ 11,948
2,893 3,450
8 26
I 609,453 2,183,896 9,196 11,511 7,133,114 9,157,077
1,609 11,137
611,062 2,185,203 17,538 11 ,511 7,156,847 9,172,475
I
53,373 204,466 858,256 462,894 8,763,588 9,724,601
I
$ 664,435 $ 2,389,669 $ 875,794 $ 474,405 $ 15,920,435 $ 18,897,076
I
I
I
I
-61-
I
Q1Y OF ANDOVER
Special Assessment Bonds Debt Service Fund
Statement of Revenue, Expenditures, and OIanges in Fund Balance
Budget and Actual
Year Fnded December 31, 1991
(with Comparative Totals for Year Fnded December 31, 1990)
Revenue
Special assessments
Intergovernmental revenue
State aids
County reimbursements
Other revenue
Interest earned on investments
Miscellaneous
Total revenue
Improvement Improvement Improvement
Bonds Series Bonds of Bonds of
1977A 1978 1979
Budget Account Account Account
$ 1,783,651 $ 41,010 $ 16,191 $ 16,474
467,036
2,250,687
58,462
99,472
10,318
26,509
7,157
23,631
Expenditures
Debt service
Principal retirement
Interest
Arbitrage reoote
Other
Total expenditures
Excess (deficiency) of
revenue over expenditures
6,891,000 40,000 15,000 20,000
1,401,412 43,250 8,745 7,150
13,900 400 529
8,306,312 83,250 24,145 27,679
(6,055,625) 16,222 2,364 (4,048)
3,000,000
Other financing sources (uses)
Bond proceeds
Operating transfers in
Debt Service Funds
Capital Project Funds
Operating transfers (out)
Debt Service Funds
Capital Project Funds
Fntelprise Funds
Total other financing
sources (uses)
(175,000)
2,825,000
Excess (deficiency) of
revenue and other
financing sources over
expenditures and other
financing uses
16,222
2,364
(4,048)
$ (3,230,625)
Fund oolance
Beginning of year
Residual equity transfers in
Residual equity transfers (out)
72.1,811
143,920
110,131
Fnd of year
$ 740,033
$ 146,284
$ 106,083
-62-
---.----- -I-
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Improvement
Bond<; Series
1980A
Account
$ 9,153
9,153
65,000
3,044
200
68,244
(59,091 )
(59,091)
63,836
(4,745)
$
1991
Actual
Improvement Improvement
Bond<; Series Bond<; Series
1980C 1985A
Account Account
$
$ 13,855
814
23,820
37,675
814
20,000
19,575
652
40,227
814
(2,552)
814
(2,552)
10,058
325,775
$ 10,872
$ 323,223
Improvement
Bond<; Series
1985B
Account
$ 155,518
93,032
248,550
170,000
149,090
662
319,752
(71,202)
(71,202)
1,341,553
$ 1,270,351
-63-
Improvement
Bond<; Series
1986A
Account
$ 14,142
105,015
119,157
125,000
105,190
663
230,853
(111,696)
(111,696)
1,486,128
$ 1,374,432
Improvement
Bond<; Series
1986B
Account
$ 96,328
96,328
240,000
108,522
680
349,202
(252,874)
(252,874)
95,190
199,095
$ 41,411
Refunding
Bond<; Series
1986A
Account
$ 27,997
3,788
31,785
36,000
2,610
38,610
(6,825)
(6,825)
73,714
(66,889)
$
(continued)
Q1Y OF ANOOVER, MINNESOTA 0
Special Assessment Bonds Debt Service Fund (continued) C
Statement of Revenue, Expenditures, and Olanges in Fund Balance
Budget and Actual
Year Ended December 31, 1991 ~
(with Comparative Totals for Year Ended December 31, 1990)
1991
Actual C
Refunding Improvement Improvement Improvement
Bonds Series Bonds of Bonds of Bonds Series
1986C 1988 1989 1990A
Account Account Account Account W
;1
Revenue
Special assessments $ 247,142 $ 453,245 $ 207,444 $ 637,288
Intergovernmental revenue C
State aids
County reimbursements
Other revenue C
Interest earned on investments 140,602 34,138 21,374 67,988
Miscellaneous 8,670 345
Total revenue 387,744 496,053 228,818 705,621
~
Expenditures : !
Debt service
Principal retirement 210,000 5,800,000 150,000
Interest 168,980 348,000 199,225 156,250 ~
' !
Arbitrage rehlte 94,000 122,742
Other 40,732 6,316 717 2,581
Total expenditures 419,712 6,248,316 349,942 281,573 ~
Excess (deficiency) of
revenue over expenditures (31,968) (5,752,263) (121,124) 424,048 ~
Other financing sources (uses)
Bondpro<:eem 3,374,500
Operating transfers in ~
Debt Service Funds 421,411 ~ i .
...
Capital Project Funds
Operating transfers (out) ~
Debt Service Funds
Capital Project Funds (75,918)
Entetprise Funds C
Total other financinl~
sources (uses) 3,795,911 (75,918)
Excess (deficiency) of C
revenue and other
financing sources over
expenditures and other C
financing uses (31,968) (1,956,352) (197,042) 424,048
Fund hllance
Beginning of year 1,933,107 761,401 490,873 552,892 C
Residual equity transfers in 1,194,951
Residual equity transfers (out)
End of year $ 1,901,139 $ $ 293,831 $ 976,940 C
-64- e
-- --- ,- ---- ----- ------- ~ " -> ----.--
I I
~
i I
"; I
J
1990
i I Improvement
Bonds Series 1991B Water Sewer Over
- I 1990B G.O. Bonds Trunk Trunk (Under)
- Account Account Account Account Total Budget Actual
-
-
- $ 126,044 $ 313,804 $ 4,412 $ 2,305 $ 2,382,352 $ 598,701 $ 3,169,799
- I
~ 121,267
- 29,318
- I 8,853 3,667 56,899 30,880 666,807 199,771 1,031,315
420 12,449 2,689 24,573 24,573 931
- I 135,317 317,471 73,760 35,874 3,073,732 823,045 4,352,630
-
I 6,891,000 8,984,400
- 91,450 91,800 1,502,881 101,469 1,634,164
18,174 234,916 234,916
I 1,895 21,205 11,123 88,355 74,455 307,450
111,519 113,005 11,123 8,717,152 410,840 10,926,014
I 23,798 204,466 62,637 35,874 (5,643,420) 412,205 (6,573,384)
-
I 3,374,500 374,500 4,031,476
421,411 421,411 785,134
74,315 17,598 91,913 91,913 73,378
I (262,102) (159,309) (421,411) (421,411) (785,134)
(75,918) 99,082
I (30,500) (30,500) (30,500) (30,500)
(187,787) (172,211 ) 3,359,995 534,995 4,074,354
I
I 21,798 204,466 (125,150) (136,337) (2,283,425) $ 947,200 (2,499,030)
I 29,575 983,406 599,231 9,724,601 11,797,601
1,394,046 996,307
(71,634) (570,277)
I $ 53,373 $ 204,466 $ 858,256 $ 462,894 $ 8.763,588 $ 9,724,601
I -65-
CITY OF ANOOVER U
Capital Project Funds C
Combining Balance Sheet
As of December 31, 1991
(with Comparative Totals as of December 31,1990) C
Fire C
1990 Station State Tax
Equipment Construction Aid Increment C
Assets
Cash and temporary investments $ $ 96,591 $ 57,472 $ 6,293 C
Receivables
Accounts C
Accrued interest 11 5,358 450
Delinquent special assessments
Deferred special assessments 16,260 C
D.1e from other governmental units 9,324 274,575
Total assets $ 9,335 $ 96,591 $ 353,665 $ 6,743 C
liabilities and Fund Balance
liabilities m
Cash deficits $ 9,324 $ $ $
Accounts payable 45,213 12,785
Contracts payable 20,812 ~
Accrued expenses 2,928 156
D.1e to other governmental units 50
Deferred revenue 9,324 290,835 m
Total liabilities 18,648 45,213 327,360 206 .
Fund balance (deficit) ~
Unreserved
Designated for capital projects 300,475 26,317
Designated for equipment C
Undesignated (9,313) 51,378 (274,170) (19,780)
Total fund balance (deficit) (9,313) 51,378 26,305 6,537
Total liabilities C
and fund balance $ 9,335 $ 96,591 $ 353,665 $ 6,743
C
C
C
-66- e
- f- ---- - ---=------r.,---,---- - - - -..---------
--
-
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- I
=
-
-
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=
- I
-
Pennanent
Special Improvement Totals
I Park Assessment Revolving 1991 1990
- I
~
-
$ 23,718 $ $ 861,311 $ 1,045,385 $ 2,423,818
I 2,918 2,918
405 18,613 14,413 39,250 67,105
752 12,310 13,062 7,314
I 432,039 272,519 720,818 572,736
376 2,812 287,087 1,793
I $ 24,123 $ 451,780 $ 1,166,283 $ 2,108,520 $ 3,072,766
I $ $ 648,801 $ $ 658,125 $ 23,244
I 46,093 104,091 82,760
40,188 61,000 51,861
27,429 30,513 11,300
50 123
I 432,791 287,748 1,020,698 580,050
1,195,302 287,748 1,874,477 749,338
I
24,123 1,087,652 706,698 2,145,265 3,350,521
I 171,837 171,837 172,985
(1,831,174) (2,083,059) (1,200,078)
24,123 (743,522) 878,535 234,043 2,323,428
I
$ 24,123 $ 451,780 $ 1.166,283 $ 2,108,520 $ 3,072,766
I
I
I
I -67-
CITY OF ANDOVER
Capital Project Funds
Combining SKatement of Revenue, Expenditures, and Changes in Fund Balance
Year Ended December 31, 1991
(with Comparative Totals for Year Ended December 31, 1990)
Revenue
Special assessments
Intergovernmental revenue
State aid
Other revenue
Interest earned on inve,stments
Park dedication fees
Miscellaneous
Total rev,enue
Expenditures
Capital projects
Capital outlay
Interest
Total expenditures
Excess (deficiency) of
revenUf~ over expenditures
Other financing sources (uses)
Bond proceeds
Operating transfers in
Capital Project Funds
Operating transfers (out)
General Fund
Special Revenue Funds
Debt Service Funds
Capital Project Funds
Administrative Trust Fund
Total other financing
sources (uses)
Excess (deficiency) of
revenue and other
financing sources over
expenditures and. other
financing uses
Fund balance (deficit)
Beginning of year
Residual equity transfers in
Residual equity transfers (out)
End of year
1-- - --- ---
1990
Equipment
Fire
Station
Construction
State
Aid
$
$
$ 17,592
232,719
2,531
33,120
137
2,668
192
192 283,431
229,386
2,345,602
9,217
2,354,819
474,123
13,987
488,110
229,386
(226,718)
(2,354,627)
(204,679)
252,000 2,460,000
158,316
(5,127)
(158,316)
(2,700)
252,000 2,460,000 (7,827)
25,282 105,373 (212,506)
(34,595) (53,995) 238,811
17,697
(17,697)
$ (9,313) $ 51,378 $ 26,305
-68-
-- - - -,------,-::--,-----
Tax
Increment
c
o
c
c
c
c
c
$
1,862
1,862
1m
..
16,664
16,664
~
(14,802)
~
( 14,802)
~
c
c
c
c
~
c
c
c
21,339
$ 6,537
-
-
) I
-
- I
~
- I
~
~
-
-
I Permanent
- Special Improvement Totals
Park Assessment Revolving 1991 1990
= I
- $ $ 501,135 $ 85,857 $ 604,584 $ 478,836
- I 232,719 190,342
.
1,423 142,554 59,462 240,952 351,641
- I 14,250 14,250 16,735
- 329
15,673 643,689 145,319 1,092,834 1,037,554
- I
-
10,599 1,320,495 15,116 4,411,985 2,036,604
I 91,961 115,165 74,799
10,599 1,412,456 15,116 4,527,150 2,111,403
I 5,074 (768,767) 130,203 (3,434,316) (1,073,849)
I 2,712,000
I 75,918 234,234
(6,000)
(3,075) (8,202)
I (91,913) (91,913) (75,084)
(158,316) (1,801)
(17,760) (20,460) (19,046)
I (36,830) 2,667,343 (101,931)
I
I 5,074 (805,597) 130,203 (766,973) (1,175,780)
I 19,049 1,456,121 676,698 2,323,428 3,815,980
71,634 89,331 603,720
I (1,394,046) (1,411,743) (920,492)
$ 24,123 $ (743,522) $ 878,535 $ 234,043 $ 2,323,428
I -69-
CITY OF ANOOVER
State-Aid Capital Project Fund
Balance Sheet
As of December 31, 1991
(with Comparative Totals as of December 31, 1990)
State-Aid
Revolving
Account
Assets
Cash and temporary investments (deficit)
Receivables
Accrued interest
Deferred special assessments
Due from other governmental units
$ (238,172)
16,260
274,575
Total assets
$ (221,912)
Uabilities and Fund Balance
Uabilities
Accounts payable
Contracts payable
Accrued expenses
Deferred revenue
Total liabilities
$ 12,258 $
20,812
2,928
290,835
326,833
Fund balance (deficit)
Unreserved
Designated for capital projects
Undesignated
Total fund balance (deficit)
State-Aid
Project
Account
$ 295,644
5,358
$ 301,002
527
527
300,475
(274,170)
(274,170) 300,475
Total liabilities
and fund balance
$ 52,663 $ 301,002
-70-
c
c
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State- Aid
1988
Construction
Account
c
c
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m
~
$
$
$
~
~
~
~
~
~
C
C
C
C
$
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- - - =-------,::::::::;1--- -
""
. I
~
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~
-
- I
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~
-
-
-
- I
!
~
-
~ I State- Aid
-
1989
I Construction Totals
- Account 1991 1990
~ I
-
-
$ $ 57,472 $ 240,474
- I 5,358 5,086
16,260
I 274,575 280
$ $ 79,090 $ 245,840
I
I $ $ 12,785 $ 4,443
20,812
2,928 2,586
I 290,835
327,360 7,029
I
300,475 389,541
I (274,170) (150,730)
26,305 238,811
I $ $ 353,665 $ 245,840
I
I
I
I
I -71-
CTIY OF ANDOVER
State-Aid Capital Project Fund
Statement of Revenue, Expenditures, and Changes in Fund Balance
Year Ended December 31,1991
(with Comparative Totals for Year Ended December 31,1990)
Revenue
Special assessments
Intergovernmental revenue
State aid
Other revenue
Interest earned on inv,estments
Total revenue
State- Aid
State-Aid State-Aid 1988
Revolving Project Construction
Account Account Account
$ 17,592 $ $
164,661 68,058
23,250 9,870
182,253 23,250 77,928
Expenditures
Capital projects
Capital outlay
Interest
Total expenditur,es
31,605
145
442,373
6,223
448,596
145
31,605
Excess (deficiency) of
revenue over expenditures
(266,343)
(8,355)
77,783
Other financing sources (uses)
Operating transfers in
Capital Project Funds
Operating transfers (out)
Capital Project Funds
Debt Service Funds
Administrative Trust Fund
Special Revenue Funds
Total other financing sources (uses)
(158,316)
(2,700)
(5,127)
(7,827)
(158,316)
Excess (deficiency) of revenue and
other financing sources over expen-
ditures and other financing uses
(274,170) (8,355) (80,533)
291,489 98,052
17,519
(178) (17,519)
$(274,170) $ 300,475 $
Fund balance (deficit)
Beginning of year
Residual equity transfers in
Residual equity transfers (out)
End of year
-72-
=-=_0----:0;= -------;::::-:--: ~ --I-
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i State- Aid
- 1989
~ I Construction Totals
Account 1991 1990
- I
- $ $ 17,592 $
-
I 232,719 190,342
-
~
33,120 34,535
~I 283,431 224,877
-I 474,123 62,616
7,764 13,987 20,556
7,764 488,110 83,172
I
(7,764) (204,679) 141,705
I
I 158,316 158,316
(158,316)
I (1,706)
(2,700)
(5,127)
I 158,316 (7,827) (1,706)
I 150,552 (212,506) 139,999
I (150,730) 238,811 98,812
178 17,697 32,863
I (17,697) (32,863)
$ $ 26,305 $ 238,811
I
I -73-
CITY OF ANDOVER C
Tax Increment Capital Project Fund C
Balance Sheet
As of December 31, 1991 C
(with Comparative Totals as of December 31,1990)
TIF TIF C
Project Project
1-1 1-2 Totals C
Account Account 1991 1990
Assets C
Cash and temporary investments (deficit) $ (19,574) $ 25,867 $ 6,293 $ 20,969
Receivables C
Accrued interest 450 450 675
Total assets $ (19,574) $ 26,317 $ 6,743 $ 21,644 C
Uabilities and Fund
Balance (Deficit)
C
i!
Uabilities
Accounts payable $ $ $ $ 198
Accrued expenses 156 156 ~
' ,
Due to other governmental units 50 50 107
Total liabilities 206 206 305
Fund balance (deficit) ~
Unreserved
Designated for C<lpital projects 26,317 26,317 24,775 ~
Undesignated (19,780) (19,780) (3,436) ~
Total fund balance (deficit) (19,780) 26,317 6,537 21,339
Total liabilities and C
fund balance (deficit) $ (19,574) $ 26,317 $ 6,743 $ 21,644
C
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CI1Y OF ANDOVER
Tax Increment Capital Project Fund
Statement of Revenue, Expenditures, and Changes in Fund Balance
Year Ended December 31,1991
(with ComfE'ltive Totals for Year Ended December 31, 1990)
TIF TIF
Project Project
1-1 1-2 Totals
Account Account 1991 1990
Revenue
Other revenue
Interest earned on investments $ $ 1,862 $ 1,862 $ 3,593
Expenditures
Capital projects
Capital outlay 16,344 320 16,664 25,902
Excess (deficiency) of
revenue over expenditures (16,344) 1,542 (14,802) (22,309)
Other financing uses
Operating transfers (out)
General Fund (6,000)
Excess (deficiency) of
revenue over expenditures
and other financing uses (16,344) 1,542 (14,802) (28,309)
Fund balance (deficit)
Beginning of year (3,436) 24,775 21,339 49,648
End of year $ (19,780) $ 26,317 $ 6,537 $ 21,339
-75-
CITY OF ANDOVER
Special Assessment Capital Project Fund
Balance Sheet
As of December 31, 1991
(with Comparative Totals as of December 31, 1990)
Improvement
Bonds
Series 1986B
Construction
Account
Assets
Cash and temporary investments
Receivables
Accrued interest
Delinquent special aSSlellsments
Deferred special assessments
Due from other govelTlmental units
$
Total assets
$
liabilities and Fund Balance (Deficit)
liabilities
Cash deficits (cash and temporary investments)
Accounts payable
Contracts payable
Accrued expenses
Due to other governml~ntal units
Deferred revenue
Total liabilities
$
Fund balance (deficit)
Umeserved
Designated for capital projects
Undesignated
Total fund balance (deficit)
Total liabilities and
fund balance (deficit)
$
-76-
- '-
Improvement
Bonds
Series 1988A
Construction
Account
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$
$
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ill
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! I Improvement
- Bonds
~ I Series 1989A Unfinanced
Construction Improvement Totals
Account Account 1991 1990
~ I
- I $ $ $ $ 1,477,566
18,613 18,613 51,919
~I 752 752
432,039 432,039 250,911
376 376
-I $ 18,613 $ 433,167 $ 451,780 $ 1,780,396
I
I $ (1,070,187) $ 1,718,988 $ 648,801 $
1,148 44,945 46,093 12,828
40,188 40,188 51,861
I 27,429 27,429 8,659
16
432,791 432,791 250,911
I (1,069,039) 2,264,341 1,195,302 324,275
I 1,087,652 1,087,652 2,413,443
(1,831,174) (1,831,174) (957,322)
1,087,652 (1,831,174) (743,522) 1,456,121
I
$ 18,613 $ 433,167 $ 451,780 $ 1,780,396
I
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I -77-
---
CITY OF ANDOVER C
Special Assessment Capital Project Fund C
Statement of Revenue, Expenditures, and Changes in Fund Balance
Year Ended December 31,1991
(with C:Omparative Totals for Year Ended December 31, 1990) C
Improvement Improvement C
Bonds Bonds
Series 1986B Series 1988A C
Construction Construction
Account Account
Revenue C
Special assessments $ $
Other revenue
Interest earned on investments 14,908 50,111 C
Total revenue 14,908 50,111
Expenditures W
Capital projects
Capital outlay 138 21
Interest ~
Total expenditures 138 21
Excess (defidency) of C
revenue over expenditures 14,770 50,090
Other financing sources (uses)
Operating transfers in ~
Capital Project Flmds IU
Operating transfers (OlJt)
Special Revenue Funds C
Debt Service Funds
Capital Project Funds
Administrative Trust Fund C
Total other linancing
sources (uses)
Excess (deficiency) of C
revenue and other
financing sources over C
expenditures and other
financing uses 14,770 50,090
Fund balance (deficit) C
Beginning of year 184,325 1,144,861
Residual equity transfers (out) (199,095) (1,194,951) C
End of year $ $
C
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Improvement
Bonds
Series 1989A
Construction
Account
$
77,535
77,535
74,140
74,140
3,395
3,395
1,084,257
$ 1,087,652
Unfinanced
Improvement
Account
$ 501,135
501,135
1,246,196
91,961
1,338,157
(837,022)
75,918
(3,075)
(91,913)
(17,760)
(36,830)
(873,852)
(957,322)
$ (1,831,174)
Totals
1991 1990
$
501,135 $ 382,061
142,554
643,689
1,320,495
91,961
1,412,456
(768,767)
75,918
(3,075)
(91,913)
(17,760)
(36,830)
(805,597)
1,456,121
(1,394,046)
$
301,070
683,131
1,793,258
53,840
1,847,098
(1,163,967)
(1,801)
(73,378)
(19,046)
(94,225)
(1,258,192)
3,591,037
(876,724)
(743,522) $ 1,456,121
-79-
-~--
CITY OF ANDOVER 0
Proprietary Fund Type C
Combining Balance Sheet
As of December 31, 1991 and 1990
C
Totals C
Water Sewer 1991 1990
Assets C
Current assets
Cash and temporary investments $ 329,565 $ 83,478 $ 413,043 $ 285,069 C
Receivables
Accounts 54,341 108,857 163,198 137,709
Accrued interest 5,511 1,418 6,929 2,889 m
Delinquent special assessments 2,585 2,585 2,265
Deferred special assessments 17,163 17,163 20,223
Due from other governmental units 9,316 9,316 630 m
Inventory 7,327 7,327 5,385
Total current assets 396,744 222,817 619,561 454,170
Property and equipment ~
! :'
Furniture and equipment 69,386 20,080 89,466 75,511
Machinery 561,365 561,365 524,515
Collection and distribution systems 6,588,334 9,841,557 16,429,891 14,770,914 ~
7,219,085 9,861,637 17,080,722 15,370,940 --
Less accumulated depreciation (768,202) (1,611,768) (2,379,970) (2,031,357)
Net property and equipment 6,450,883 8,249,869 14,700,752 13,339,583 ~
Total assets $ 6,847,627 $ 8,472,686 $ 15,320,313 $ 13,793,753
liabilities and Fund Equity C
Current liabilities C
Accounts payable $ 6,894 $ 106 $ 7,000 $ 16,949
Accrued expenses 8,583 5,687 14,270 9,286
Due to other governmental units 357 357 16,418 C
Total current liabilities 15,834 5,793 21,627 42,653
Fund equity fit
Contributed capital 6,398,965 8,238,413 14,637,378 13,280,706 I..
Retained earnings
Designated for equipment 16,820 16,820 33,640 C
Undesignated 416,008 211,660 627,668 470,394
Total fund equity 6,831,793 8,466,893 15,298,686 13,751,100
Total liabilities C
and fund equity $ 6,847,627 $ 8,472,686 $ 15,320,313 $ 13,793,753
C
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- -= ---'- --::: :c_ I-- - -- - -- ------- ---- --- ......--1 --- - ------
-
I I
CITY OF ANDOVER
- I Proprietary Fund Type
Combining Statement of Revenue, Expenses, and Changes in Retained Eunings
I Years Ended December 31, 1991 and 1990
-
-
Totals
I Water Sewer 1991 1990
- Operating revenue
~ User charges $ 205,848 $ 351,173 $ 557,021 $ 508,933
I Meters 29,473 29,473 26,185
-
- Permit fees 11,400 11,400 10,750
Penalties 5,239 9,083 14,322 12,445
I Other 1,273 5,093 6,366 1,737
- Total operating revenue 253,233 365,349 618,582 560,050
- I Operating expenses
Personal services 79,700 39,303 119,003 95,838
Supplies 20,999 8,164 29,163 25,080
I Meters, etc. 21,930 21,930 21,662
Other services and charges 26,766 17,744 44,510 28,112
Disposal charges 223,752 223,752 212,665
I Total operating expenses 149,395 288,963 438,358 383,357
Operating income before depreciation 103,838 76,386 180,224 176,693
I Depreciation 153,175 195,439 348,614 324,588
I Operating loss (49,337) (119,053) (168,390) (147,895)
Other income (expense)
Interest income 22,109 5,170 27,279 18,054
I Interest expense (748)
Total other income (expense) 22,109 5,170 27,279 17,306
I Net loss (27,228) (113,883) (141,111) (130,589)
Other financing sources (uses)
I Operating transfers in
Debt Service Funds 30,500 30,500 30,500
Operating transfers (out)
I Debt Service Funds (37,630) (37,630)
Total other financing
sources (uses) (7,130) (7,130) 30,500
I Add credit for depreciation on contributed assets 145,562 193,593 339,155 317,905
I Income closed to retained earnings 118,334 72,580 190,914 217,816
Retained earnings
I Beginning of year 314,494 155,900 470,394 252,578
End of year $ 432,828 $ 228,480 $ 661,308 $ 470,394
I -81-
CITY OF ANDOVER 0
Proprietary Fund Type C
Combining Statement of Cash Flows
Years Ended December 31,1991 and 1990
C
Totals C
Water Sewer 1991 1990
Cash flows from operating activities C
Operating loss $ (49,337) $ (119,053) $ (168,390) $ (147,895)
Adjustments to reconcile operating loss to
net cash provided by operating activities
Depreciation 153,175 195,439 348,614 324,588 C i
Cbange in assets and liabilities
Receivables
Accounts (13,248) (12,242) (25,490) (17,010) C
Delinquent sp'~cial assessments (320) (320) (2,265)
Deferred s~cial assessments 3,059 3,059 (20,223)
Due from oth.:r governmental units (8,686) (8,686) (630) m
Inventory (1,942) (1,942) 75
Accounts payable 3,644 (13,592) (9,948) 11,831
Accrued expenses 2,961 2,023 4,984 (321 )
Due to other governmental units 80 (16,141) (16,061) (20,668) C
Net cash provided by
operating activities 95,333 30,487 125,820 127,482
Cash flows from capital and related financing activities C
Acquisition of capital assets (12,260) (1,695) (13,955) (53,402)
Cash flows from investing activities ~
JI:
Interest received 19,487 3,752 23,239 17,318 .
Cash flows from noncapital financing activities ~
Operating transfer from Debt Service Funds 30,500 30,500 30,500 Il.J
Operating transfer to Debt Service Funds (37,630) (37,630)
Net cash provided (used) by ~
noncapital financing activities (7,130) (7,130) 30,500
Net incmase in cash and
temporary investments 102,560 25,414 127,974 121,898 C
Cash and temporary investments
Beginning of year 227,005 58,064 285,069 163,171 C
End of year $ 329,565 $ 83,478 $ $
413,043 285,069
Supplemental schedule of noncash investing, capital, C
and financing activities
Assets contributed by other funds $ 1,371,993 $ 323,834 $ 1,695,827 $ 353,704 C
t
-82- C
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CITY OF ANDOVER
Water Fund
Comparative Balance Sheet
As of December 31,1991 and 1990
Assets
Current assets
Cash and temporary investments
Receivables
Accounts
Accrued interest
Inventory
Total current assets
Property and equipment
Furniture and equipment
Machinery
Distribution system
Less accumulated depreciation
Net property and equipment
Total assets
liabilities and Fund Equity
Current liabilities
Accounts payable
Accrued expenses
Due to other governmental units
Total current liabilities
Fund equity
Contributed capital
Retained earnings
Designated for equipment
Undesignated
Total fund equity
Total liabilities and fund equity
-83-
1991
1990
$ 329,565 $ 227,005
54,341 41,093
5,511 2,889
7,327 5,385
396,744 276,372
69,386 57,126
561,365 524,515
6,588,334 5,253,191
7,219,085 5,834,832
(768,202) (615,027)
6,450,883 5,219,805
$ 6,847,627 $ 5,496,177
$ 6,894 $ 3,250
8,583 5,622
357 277
15,834 9,149
6,398,965 5,172,534
16,820
416,008 314,494
6,831,793 5,487,028
$ 6,847,627 $ 5,496,177
CITY OF ANDOVER
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Water Fund
Statement of Revenue, Expenses, and Changes in Retained Earnings
Years Ended December 31, 1991 and 1990
1991 1990
Amount Percent Amount Percent
Operating revenue
User charges $ 205,848 81.3 % $ 182,691 80.7%
Meters 29,473 11.6 26,185 11.6
Permit fees 11,400 4.5 10,750 4.7
Penalties 5,239 2.1 5,081 2.2
Other 1,273 0.5 1,737 0.8
Total operating revenue 253,233 100.0 226,444 100.0
Operating expenses
Personal services 79,700 31.5 64,948 28.7
Supplies 20,999 8.3 20,237 8.9
Meters, etc. 21,930 8.7 21,662 9.6
Other services and charges 26,766 10.5 20,415 9.0
Total operating expenses 149,395 59.0 127,262 56.2
Operating income
before depreciation 103,838 41.0 99,182 43.8
Depreciation 153,175 60.5 134,582 59.4
Operating loss (49,337) (19.5) (35,400) (15.6)
Other income
Interest income 22,109 8.7 18,054 7.9
Net loss (27,228) (10.8)% (17,346) (7.7)%
Add credit for depreciation on contributed assets 145,562 129,492
Income closed to
retained earnings 118,334 112,146
Retained earnings
Beginning of year 314,494 202,348
End of year $ 432,828 $ 314,494
~
~
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CITY OF ANDOVER
~ I
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Water Fund
Statement of Cash Flows
Years Ended December 31,1991 and 1990
1991 1990
Cash flows from operating activities
Operating loss $ (49,337) $ (35,400)
Adjustments to reconcile operating loss to net
cash provided by operating activities
Depreciation 153,175 134,582
Change in assets and liabilities
Receivables
Accounts (13,248) 7,208
Inventory (1,942) 75
Accounts payable 3,644 (354)
Accrued expenses 2,961 (559)
Due to other governmental units 80 (607)
Net cash provided by operating activities 95,333 104,945
Cash flows from capital and related financing activities
Acquisition of capital assets (12,260) (42,209)
Cash tlows from investing activities
Interest received 19,487 17,616
Net increase in cash and temporary investments 102,560 80,352
Cash and temporary investments
Beginning of year 227,005 146,653
End of year $ 329,565 $ 227,005
Supplemental schedule of noncash investing,
capital, and financing activities
Assets contributed by other funds $ 1,371,993 $ 159,517
-85-
CITY OF ANDOVER C
Sewer Fund C
Comparative Balance Sheet
As of December 31,1991 and 1990
C
1991 1990 C
Assets
Current assets C
Cash and temporary investments $ 83,478 $ 58,064
Receivables a
Accounts 108,857 96,616
Accrued interest 1,418
Delinquent special assessments 2,585 2,265 C
Deferred special assessments 17,163 20,223
Due from other governmental units 9,316 630
Total current assets 222,817 177,798 a
Property and equipment
Furniture and equipment 20,080 18,385
Collection system 9,841,557 9,517,723 C
9,861,637 9,536,108
Less accumulated depreciation (1,611,768) (1,416,330)
Net property and equipment 8,249,869 8,119,778 C
Total assets $ 8,472,686 $ 8,297 ,576
liabilities and Fund Equity C
Current liabilities C
Accounts payable $ 106 $ 13,699
Accrued expenses 5,687 3,664
Due to other governmental units 16,141 --
W
Total current liabilities 5,793 33,504 "
! !
Fund equity ~
Contributed capital 8,238,413 8,108,172
Retained earnings
Designated for equipment 16,820 ~
Undesignated 211,660 155,900
Total fund equity 8,466,893 8,264,072
Total liabilities and fund equity $ 8,472,686 $ 8,297 ,576 ~
C
C
-86- C
~~,----=-==~, -- -- -.-------.- ----~ -- - - - ~ "~I -----~
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=
- I
CfIY OF ANOOVER
- I Sewer Fund
-
Statement of Revenue, Expenses, and Changes in Retained Earnings
= I Years Ended December 31,1991 and 1990
-
- I 1991 1990
- Amount Percent Amount Percent
I Operating revenue
User charges $ 351,173 96.1 % $ 326,242 97.8%
Penalties 9,083 2.5 7,364 2.2
I Other 5,093 1.4
Total operating revenue 365,349 100.0 333,606 100.0
I Operating expenses
Personal services 39,303 10.8 30,890 9.3
Supplies 8,164 2.2 4,843 1.5
-I Other services and charges 17,744 4.8 7,697 2.3
Disposal charges 223,752 61.2 212,665 63.7
Total operating expenses 288,963 79.0 256,095 76.8
I Operating income
before depreciation 76,386 21.0 77,511 23.2
I Depreciation 195,439 53.5 190,006 56.9
I Operating loss (119,053) (32.5) (112,495) (33.7)
Other income (expense)
Interest income 5,170 1.4
I Interest expense (748) ~
Total other income (expense) 5,170 1.4 (748) ~
I Net loss (113,883) (31.1)% (113,243) (33.9)%
Other financing sources (uses)
I Operating transfers in
Debt Service Funds 30,500 30,500
Operating transfers (out)
I Debt Service Funds (37,630)
Total other financing sources (uses) (7,130) 30,500
I Add credit for depreciation on contributed assets 193,593 188,413
Income closed to retained earnings 72,580 105,670
I Retained earnings
Beginning of year 155,900 50,230
I End of year $ 228,480 $ 155,900
I -87-
CITY OF ANDOVER C
Sewer Fund C
Statementofcash~ows
Years Ended December 31, 1991 and 1990 C
1991 1990 C
Cash flows from operating activities C
Operating loss $ (119,053) $ (112,495)
Adjustments to reconciile operating loss to net
cash provided by operating activities
Depreciation 195,439 190,006 C
Change in assets and liabilities
Receivables
Accounts (12,242) (24,218) m
Delinquent special assessments (320) (2,265)
Deferred special assessments 3,059 (20,223)
Due from other governmental units (8,686) (630) ~
Accounts payable (13,592) 12,185
Accrued expenses 2,023 238
Due to other governmental units (16,141 ) (20,061) ~
Net cash provided by operating activities 30,487 22,537
cash flows from capital and related financing activities ~
Acquisition of capital assets (1,695) (11,193)
cash flows from investing activities ~
Interest expense (298)
Interest received 3,752
Net cash provided (used) by investing activities 3,752 (298)
C
Cash flows from noncapitall financing activities
Operating transfer from Debt Service Funds 30,500 30,500
Operating transfer to Debt Service Funds (37,630) C
Net cash provided (used) by
noncapital financing activities (7,130) 30,500
Net increase in cash and temporary investments 25,414 41,546 C
Cash and temporary investments C
Beginning of year 58,064 16,518
End of year $ 83,478 $ 58,064 C
Supplemental schedule of noncash investing,
capital, and financing activities C
Assets contributed by other funds $ 323,834 $ 194,187
C
-88- e
----- ~ , ----- -~ ------- -- ~ ,,",- I - - ----.-- ----
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CITY OF ANDOVER
Fiduciary Funds
Combining Balance Sheet
As of December 31,1991
(with Comparative Totals as of December 31,1990)
Expendable Agency
Trust Fund Fund Totals
Administrative Escrow
Trust Fund Fund 1991 1990
Assets
Cash and temporary investments $ 220,759 $ 374,196 $ 594,955 $ 787,225
Receivables
Accrued interest 5,305 5,305 6,615
Total assets $ 226,064 $ 374,196 $ 600,260 $ 793,840
liabilities and
Fund Balance
liabilities
Accounts payable $ $ 2,836 $ 2,836 $ 13
Deposits payable 371,360 371,360 504,247
Total liabilities 374,196 374,196 504,260
Fund balance
Unreserved
Undesignated 226,064 226,064 289,580
Total liabilities
and fund balance $ 226,064 $ 374,196 $ 600,260 $ 793,840
-89-
CITY OF ANDOVER
Expendable Trust Fund
Administrative Trust Fund
Statement of Revenue, Expenditures, and Changes in Fund Balance
Years Ended December 31, 1991 and 1990
1991
Revenue
Other revenue
Interest earned on investments
$ 20,824
Other financing sources (uses)
Operating transfers in
Capital Project Hmds
Operating transfers (out)
General Fund
Total other financing sources (uses)
20,460
(104,800)
(84,340)
Excess (deficiency) of revenue and
other financing sources over expen-
ditures and other financing uses
(63,516)
Fund balance
Beginning of year
289,580
$ 226,064
End of year
-90-
~
~,
1990
$ 38,475
19,046
(182,318)
(163,272)
(124,797)
414,377
$ 289,580
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Assets
Cash and temporary investments
liabilities
Accounts payable
Deposits payable
Total liabilities
CITY OF ANDOVER
Agency Fund
Escrow Fund
Statement of Changes in Assets and liabilities
Year Ended December 31, 1991
Balance
January 1
Additions
$ 504,260 $ 124,322
$ 13
504,247
$ 504,260
-91-
$ 2,836
121,486
$ 124,322
Deductions
$ 254,386
$ 13
254,373
$ 254,386
Balance
December 31
$ 374,196
$ 2,836
371,360
$ 374,196
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STATISTICAL SECTION
(uNAUDITED)
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- I General Fund Revenue by Source
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~ Charges for Fines and Other
- Fiscal Property and Intergovernmental
- Year Tax Permits Revenue Services Forfeits Revenue Total
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1988 $ 713,219 $ 236,555 $ 559,246 $ 31,404 $ 45,049 $ 84,680 $ 1,670,153
- I 1989 712,017 259,083 659,330 58,754 51,614 73,909 1,814,707
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1990 911,255 212,793 616,722 75,962 46,650 70,060 1,933,442
- I 1991 1,017,774 230,298 640,318 82,604 31,750 71,290 2,074,034
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CITY OF ANDOVER
General Fund Expenditures by Function
Fiscal General Public Public Parks and
Year Government Safety Works Sanitation Recreation
1988 $ 521,775 $ 496,710 $ 333,978 $ 12,030 $ 240,574
1989 645,52Jl 705,415 296,275 18,658 218,571
1990 593,778 754,914 307,046 29,168 261,449
1991 579,797 805,393 374,138 14,831 245,097
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Economic
Development Unallocated Total
$ $ 136,209 $ 1,741,276
97,797 2,002,349
14,289 129,589 2,129,800
17,447 72,521 2,155,995
-94-
CITY OF ANDOVER C
Tax Levies and Collections r'\
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Percentage C
Collection Percentage Collection of Total
of Current of Levy of Prior Total Collections C
Year Total Levy Yeaif's Levy Collected Years' Levy Collections to Levy
1983 $ 570,009 $ 548,667 96.26 % $ 18,286 $ 566,953 99.46 % C
1984 645,466 621,184 96.24 16,627 637,811 98.81
1985 689,698 671,021 97.29 11,222 682,243 98.92
1986 802,877 784,514 97.71 18,558 803,072 100.02 C
1987 880,048 862,018 97.95 19,185 881,203 100.13
1988 995,590 978,595 98.29 16,832 995,427 99.98
1989 1,006,409 987,289 98.10 13,439 1,000,728 99.44
1990 993,164 967,055 97.37 22,178 989,233 99.60 C
1991 1,079,510 1,054,361 97.67 21,936 1,076,297 99.70
Special Assessment Levies and Collections m
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Percentage W
Collection Percentage Collection of Total
of Current of Levy of Prior Total Collections
Year Total Levy Y,ear's Levy Collected Years' Levy Collections to Levy C
1983 $ 724,655 $ 634,003 87.49 % $ 77 ,505 $ 711,508 98.19 %
1984 673,732 583,244 86.57 60,445 643,689 95.54 C
1985 725,828 660,741 91.03 70,394 731,135 100.73
1986 700,636 662,322 94.53 84,548 746,870 106.60
1987 989,102 903,856 91.38 28,728 932,584 94.29 ~
1988 1,205,379 1,091,675 90.57 83,419 1,175,094 97.49
1989 1,178,982 Jl,097,880 93.12 57,987 1,155,867 98.04
1990 1,620,500 1,509,902 93.18 210,132 1,720,034 106.14 ~
1991 1,450,030 1,249,889 86.20 38,964 1,288,853 88.88 ii.I
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CITY OF ANDOVER
Computation of Legal Debt Margin
December 31, 1991
Market value of taxable property $ 467,376,200
Debt limit (2.00% of market value) $ 9,347,524
Amount of debt applicable to debt limit
Total bonded debt $ 22,340,000
Less
Bonded debt not repayable solely from tax levies
Special Assessment Improvement Bonds 18,315,000
Tax Increment Bonds 1,015,000
State-Aid Street Bonds 510,000
Net debt applicable to debt limit 2,500,000
Legal debt margin $ 6,847,524
-96-
CITY OF ANDOVER
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Computation of Legal Debt Margin (continued)
December 31, 1991
M.S.A. Section 475.53
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"Subdivision 1. Generally. Except as otherwise provided in Section 475.51 no municipality, except a
school district or a city of first class, shall incur or be subject to a net debt in excess of 2.00% of the
taxable market value."
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 benefitted 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.
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(6) Not applicable.
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(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.
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(8) All other obligations which under the provision of the law authorizing their issuance are not
to be included in computing the net debt of the municipality. "
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CITY OF ANDOVER
Schedule of Sources and Uses of Public Funds
For Tax Increment Financing District No. 1-1
Year Ended December 31,1991
Accounted
Original for in Current Amount
Budget Prior Years Year Remaining
Sources of funds
Tax increments $ 8,064,943 $ 478,555 $ 343,284 $ 7,243,104
Special assessments 5,166 (5,166)
State credits 57,266 (57,266)
Bond proceeds 4,715,000 205,000 4,510,000
Land sales 106,501 55,627 (162,128)
Interest 97,470 44,621 47,566 5,283
Total sources of funds 12,877,413 891,943 451,643 11,533,827
Uses of funds
Capital outlay 5,200,000 253,116 16,344 4,930,540
Administrative costs and other 264,000 11,101 252,899
Debt service
Principal 4,810,000 205,000 4,605,000
Interest and other costs 3,640,686 59,709 3,580,977
Total uses of funds 13,914,686 528,926 16,344 13,369,416
District balance (deficit) (1,037,273) 363,017 435,299 (1,835,589)
Transfers to other funds (24,000) 24,000
Remaining funds (deficit) $ (1,037,273) $ 363,017 $ 411,299 $ (1,811,589)
SUPPlEMENTAL INFORMATION
Name of District
Tax Increment District- Development District No. 1-1
Type of District and Authorizing Statutes
Redevelopment District established in 1986 under
Section 472 of Minnesota Statutes for a duration of
25 years from receipt of first increment.
Financing
Total bonds issued
General Obligation Tax Increment Bonds Series 1987B
$
$
205,000
Outstanding Bonds at December 31,1991
-98-
CITY OF ANDOVER
Schedule of Sources and Uses of Public Funds
For Tax Increment Financing District No. 1-2
Year Ended December 31, 1991
Accounted
Original for in
Budget Prior Years
$ 2,200,361 $ 378,180
1,004,500 1,044,126
7,959
4,500 63,414
23,877
3,209,361 1,517,556
Sources of funds
Tax increments
State credits
Bond proceeds
Umd sales
Interest
Miscellaneous
Total sources of funds
Uses of funds
Capital outlay
Administrative costs and other
Debt service
Principal
Interest and other costs
Total uses of funds
1,010,375
95,905
1,025,000
1,029,018
3,160,298
49,063
District balance (deficit)
Transfers to other funds
Remaining funds (deficit)
$
49,063
816,904
29,822
15,000
334,137
1,195,863
321,693
(6,000)
$ 315,693
SUPPLEMENTAL INFORMATION
Current Amount
Year Remaining
$ 201,260 $ 1,620,921
277 (277)
(39,626)
(7,959)
22,910 (81,824)
25,867 (49,744)
250,314 1,441,491
320 193,151
66,083
35,000 975,000
98,450 596,431
133,770 1,830,665
116,544 (389,174)
(6,000) 12,000
$ 110,544 $ (377,174)
Name of District
Tax Increment District- Development District No. 1-2
Type of District and Authoriziing Statutes
Redevelopment District established in 1986 under
Section 472 of Minnesota Statutes for a duration of
25 years from receipt of first increment.
Financing
Total bonds issued
General Obligation Tax Increment Bonds Series 1987A
Outstanding Bonds at December 31, 1991
-99-
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$ 1,065,000
$ 1,015,000
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SINGLE AUDIT AND OTHER REOUlRED REPORTS
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PRINCIPALS
KENNETH W. MALLOY, CPA
THOMAS A. KARNOWSKI, CPA
PAUL A. RADOSEVICH, CPA
INDEPENDENT AUDITOR'S REPORT
ON SCHEDULE OF
FEDERAL FINANCIAL ASSISTANCE
City Council and Residents
City of Andover
Andover, Minnesota
We have audited the general purpose financial statements of the City of Andover, Minnesota, for the year
ended December 31, 1991, and have issued our report thereon dated March 27, 1992. These general
purpose financial statements are the responsibility of the City's management. Our responsibility is to
express an opinion on these general purpose financial statements based on our audit.
We conducted our audit in accordance with generally accepted auditing standards and Government
Auditine: Standards, issued by the Comptroller General of the United States. Those standards require that
we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial
statements are free of material misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the general purpose financial statements. An audit also
includes assessing the accounting principles used and significant estimates made by management, as well
as evaluating the overall general purpose financial statement presentation. We believe that our audit
provides a reasonable basis for our opinion.
Our audit was made for the purpose of forming an opinion on the general purpose financial statements
taken as a whole. The accompanying Schedule of Federal Financial Assistance is presented for purposes
of additional analysis and is not a required part of the general purpose financial statements of the City
of Andover. The information in this schedule has been subjected to the auditing procedures applied in
the audit 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.
~4:~~~:~4
March 27, 1992
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410 PARK NATIONAL BANK BUILDING
5353 WA'fZATA BOULEVARD
MINNEAPOLIS, MINNESOT;o\ 55416
TELEPHONE: 612-545-0424
TELEFAX: 612-545..Q569
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01Y OF ANDOVER
Schedule of Federal Financial Assistance
Year Ended December 31, 1991
Federal
GDA
Federal Grantor/Pass-Through Grantor/Program TItle Number
U.S. Department of Housinst
and Urbm Development
Federal
Grant
Amount
Passed Through Anoka County
Community Development Block Grant
OIrrent Year Activity
Revenue
State
and
Federal Local Expenditures
14.218 $ 149,093 $ 35,082 $
$ 35,082
Note 1: Federal grant amount includes any carryover fnxn previous grant year entitlements as well as any program revenue
earned that increases the funds available.
Note 2: Community Development Block Grant revenues and expenditures on the City's financial statements reflect the
effects of adjustments to prior years' accruals.
-101-
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PRINCIPALS
KENNETH W. MALLOY, CPA
THOMAS A. KARNOWSKI, CPA
PAUL A. RADOSEVICH, CPA
INDEPENDENT AUDITOR'S SINGLE AUDIT COMBINED
REPORT ON INTERNAL CONTROL STRUCTURE
City Council and Residents
City of Andover
Andover, Minnesota
We have audited the general purpose financial statements of the City of Andover, Minnesota, as of and
for the year ended December 31, 1991, and have issued our report thereon dated March 27, 1992.
We conducted our audit in accordance with generally accepted auditing standards; Government Auditing
Standards, issued by the Comptroller General of the United States; and Office of Management and Budget
(OMB) Circular A-128, Audits of State and Local Governments. Those standards and OMB Circular
A-128 require that we plan and perform the audit to obtain reasonable assurance about whether the
general purpose financial statements are free of material misstatement.
In planning and performing our audit for the year ended December 31, 1991, we considered the City of
Andover's internal control structure in order to determine our auditing procedures for the purpose of
expressing our opinion on the general purpose financial statements and not to provide assurance on the
internal control structure.
The management of the City of Andover is responsible for establishing and maintaining an internal
control structure. In fulfilling this responsibility, estimates and judgements by management are required
to assess the expected benefits and related costs of internal control structure policies and procedures. The
objectives of an internal control structure are to provide management with reasonable, but not absolute,
assurance that assets are safeguarded against loss from unauthorized use or disposition, and that
transactions are executed in accordance with management's authorization and recorded properly to permit
the preparation of general purpose financial statements in accordance with generally accepted accounting
principles, and that federal financial assistance programs are managed in compliance with applicable laws
and regulations. Because of inherent limitations in any internal control structure, errors, irregularities,
or instances of noncompliance may nevertheless occur and not be detected. Also, projection of any
evaluation of the structure to future periods is subject to the risk that procedures may become inadequate
because of changes in conditions or that the effectiveness of the design and operation of policies and
procedures may deteriorate.
(continued)
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-102-
410 PARK NATIONAL BANK BUILDING
5353 WA'fZATA BOULEVAAD
MINNEAPOLIS, MINNESOTA 55416
TELEPHONE: 612-545-0424
TELEFAX: 612-545-0569
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For the purpose of this report, we have classified the significant internal control structure policies and
procedures in the following categories: cash receipts/revenue, cash disbursements/expenditures, payroll,
external financial reporting, and grant administration. For all of the internal control structure categories
listed above, we obtained an understanding of the design of relevant policies and procedures and
determined whether they have been placed in operation, and we assessed control risk.
During the year ended December 31, 1991, the City of Andover had no major federal financial assistance
programs and expended 100% ofits total federal financial assistance under the following nonmajor federal
financial assistance program: Community Development Block Grant.
We performed tests of controls, as required by OMB Circular A-128, to evaluate the effectiveness of the
design and operation of internal control structure policies and procedures that we have considered relevant
to preventing or detecting material noncompliance with specific requirements, general requirements, and
requirements governing claims for advances or reimbursements and amounts claimed or used for matching
that are applicable to the aforementioned nonmajor programs. Our procedures were less in scope than
would be necessary to render an opinion on these internal control structure policies and procedures.
Accordingly, we do not express such an opinion.
We noted certain matters involving the internal control structure and its operation that we consider to be
reportable conditions under standards established by the American Institute of Certified Public
Accountants. Reportable conditions involve matters coming to our attention relating to significant
deficiencies in the design or operation of the internal control structure that, in our judgement, could
adversely affect the City of Andover's ability to record, process, summarize, and report financial data
consistent with the assertions of management in the general purpose financial statements or to administer
federal financial assistance programs in accordance with applicable laws and regulations.
Because of the limited size of your office staff, your organization has limited segregation of duties. A
good system of internal accounting control contemplates an adequate segregation of duties so that no one
individual handles a transaction from inception to completion. While we recognize that your organization
is not large enough to permit an adequate segregation of duties in all respects, it is important that you
be aware of this condition.
A material weakness is a reportable condition in which the design or operation of one or more of the
internal control structure elements does not reduce to a relatively low level the risk that errors or
irregularities in amounts that would be material in relation to the general purpose financial statements
being audited or that noncompliance with laws and regulations that would be material to a federal
financial assistance program may occur and not be detected within a timely period by employees in the
normal course of performing their assigned functions.
Our consideration of the internal control structure would not necessarily disclose all matters in the internal
control structure that might be reportable conditions and, accordingly, would not necessarily disclose all
reportable conditions that are also considered to be material weaknesses as defined above. However, we
believe that the reportable condition described above is a material weakness. This condition was
considered in determining the nature, timing, and extent of the procedures to be performed in our audit
of the City of Andover's general purpose financial statements and of its compliance with requirements
applicable to its federal financial assistance programs for the year ended December 31, 1991, and this
report does not affect our reports thereon dated March 27, 1992.
(continued)
-103-
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In our letter to the City Council, issued in connection with our audit of the City's general purpose
financial statements, we have separately communicated our observations and recommendations regarding
other matters.
This report is intended solely for the use of the City Council and management of the City of Andover,
the cognizant audit agency, and other federal agencies and should not be used for any other purpose.
This restriction is not intended to limit the distribution of this report which, upon acceptance by the City
Council, is a matter of public record.
~*~~:~M
March 27, 1992
-104-
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PRINCIPALS
KENNETH w. MALLOY, CPA
THOMAS A. KARNOWSKI. CPA
PAUL A. RADOSEVICH. CPA
INDEPENDENT AUDITOR'S COMPLIANCE REPORT
BASED ON AN AUDIT OF THE GENERAL PURPOSE
FINANCIAL STATEMENTS PERFORMED
IN ACCORDANCE WITH
GOVERNMENT AUDITING STANDARDS
City Council and Residents
City of Andover
Andover, Minnesota
We have audited the general purpose financial statements of the City of Andover, Minnesota, for the year
ended December 31, 1991, and have issued our report thereon dated March 27, 1992.
We conducted our audit in accordance with generally accepted auditing standards and Government
Auditimr Standards, issued by the Comptroller General of the United States. Those standards require that
we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial
statements are free of material misstatement.
Compliance with laws, regulations, contracts, and grants applicable to the City of Andover is the
responsibility of the City's management. As part of obtaining reasonable assurance about whether the
general purpose financial statements are free of material misstatement, we performed tests of the City's
compliance with certain provisions of laws, regulations, contracts, and grants. However, our objective
was not to provide an opinion on overall compliance with such provisions. Accordingly, we do not
express such an opinion.
The results of our tests indicate that, with respect to the items tested, the City of Andover complied, in
all material respects, with the provisions referred to in the preceding paragraph. With respect to items
not tested, nothing came to our attention that caused us to believe that the City had not complied, in all
material respects, with those provisions.
This report is intended solely for the use of the City Council and management of the City of Andover,
the cognizant audit agency, and other federal agencies and should not be used for any other purpose.
This restriction is not intended to limit the distribution of this report which, upon acceptance by the City
Council, is a matter of public record.
#!* ~~ :4--dr2
March 27, 1992
C:'-_FTTIF"OO:::=:I:>
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410 PARK NATIONAL BANK BUILDING
5353 WAVZATA BOULEVARD
MINNEAPOLIS, MINNESOTA 55416
TB..EPHONE: 612--545-0424
TELEFAX: 612-545-0569
-105-
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PRINCIPALS
KENNETH W. MALLOY. CPA
THOMAS A. KARNOWSKI, CPA
PAUL A. RADOSeviCH, CPA
INDEPENDENT AUDITOR'S SINGLE AUDIT
REPORT ON COMPLIANCE WITH THE
GENERAL REOUIREMENTS APPLICABLE
TO FEDERAL FINANCIAL ASSISTANCE PROGRAMS
City Council and Residents
City of Andover
Andover, Minnesota
We have applied procedures to test the City of Andover, Minnesota's, compliance with the following
requirements applicable to each of its federal financial assistance programs, which are identified in the
Schedule of Federal Financial Assistance, for the year ended December 31, 1991: political activity, civil
rights, cash management, federal financial reports, allowable costs, and Drug-Free Workplace Act.
Our procedures were limited to the applicable procedures described in the Office of Management and
Budget's, Comoliance Suoolement for Single Audits of State and Local Governments. Our procedures
were substantially less in scope than an audit, the objective of which is the expression of an opinion on
the City of Andover's compliance with the requirements listed in the preceding paragraph. Accordingly,
we do not express such an opinion.
With respect to the items tested, the results of those procedures disclosed no material insiances of
noncompliance with the requirements listed in the first paragraph of this report, except as listed in the
Schedule of Findings. With respect to items not tested, nothing came to our attention that caused us to
believe that the City of Andover had not complied, in all material respects, with those requirements.
This report is intended solely for the use of the City Council and management of the City of Andover,
the cognizant audit agency, and other federal agencies and should not be used for any other purpose.
This restriction is not intended to limit the distribution of this report which, upon acceptance by the City
Council, is a matter of public record.
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March 27, 1992
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-106-
410 PARK NATIONAL BANK BUILDING
5353 WAVZATA BOULEVARD
MINNEAPOLIS, MINNESOTA 55416
TELEPHONE: 612-545-0424
TELEFAX: 612-545-0569
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PRINCIPALS
KENNETH W. MALLOY, CPA
THOMAS A. KARNO\NSKI, CPA
PAUL A. RADOSEVICH, CPA
INDEPENDENT AUDITOR'S REPORT ON
COMPLIANCE WITH SPECIFIC REOUIREMENTS
APPLICABLE TO NONMAJOR RELATED
FEDERAL FINANCIAL ASSISTANCE
PROGRAM TRANSACTIONS
City Council and Residents
City of Andover
Andover, Minnesota
In connection with our audit of the general purpose financial statements of the City of Andover,
Minnesota, and with our study and evaluation of the internal control systems used to administer federal
financial assistance programs, as required by OMB Circular A-128, Audits of State and Local
Governments, we selected certain transactions applicable to certain nonmajor federal financial assistance
programs for the year ended December 31, 1991.
As required by OMB Circular A-128, we have performed auditing procedures to test compliance with
the requirements governing types of services allowed or unallowed, reporting, cost allocation, and claims
for advances and reimbursements. Our procedures were substantially less in scope than an audit, the
objective of which is the expression of an opinion on the City's compliance with these requirements.
Accordingly, we do not express such an opinion.
With respect to the items tested, the results of those procedures disclosed no material instances of
noncompliance with the requirements listed in the preceding paragraph. With respect to items not tested,
nothing came to our attention that caused us to believe that the City had not complied, in all material
respects, with those requirements.
This report is intended solely for the use of the City Council and management of the City of Andover,
the cognizant audit agency, and other federal agencies and should not be used for any other purpose.
This restriction is not intended to limit the distribution of this report which, upon acceptance by the City
Council, is a matter of public record.
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March 27, 1992
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410 PARK NATIONAL BANK BUILDING
5353 WAVZATA BOULEVARD
MINNEAPOlIS, MINNESOTA 55416
TELEPHONE: 612--545-0424
TELEFAX: 612-545-0569
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PRINCIPALS
KENNETH W. MALLOY, CPA
THOMAS A. KARNOWSKI. CPA
PAUL A. RADOSEVICH, CPA
INDEPENDENT AUDITOR'S
REPORT ON COMPLIANCE
WITH MINNESOTA STATE LAWS
AND REGULATIONS
City Council and Residents
City of Andover
Andover, Minnesota
We have audited the general purpose financial statements of the City of Andover, Minnesota, for the year
ended December 31, 1991, and have issued our report thereon dated March 27, 1992. Our audit was
made in accordance with generally accepted auditing standards and the provisions of the Lellal
Compliance Audit Guide promulgated by the Legal Compliance Task Force pursuant to Minnesota
Statutes Section 6.65. Accordingly, the audit included such tests of the accounting records and such other
auditing procedures as we considered necessary in the circumstances.
The Legal Compliance Audit Guide covers five main categories of compliance to be tested: contracting
and bidding, deposits and investments, conflicts of interest, public indebtedness, and claims and
disbursements. Our study included all of the listed categories. The results of our tests indicate that for
the items tested the City of Andover complied with the material terms and conditions of applicable legal
provisions. Further, for the items not tested, based on our audit and the procedures referred to above,
nothing came to our attention to indicate that the City had not complied with such legal provisions.
This report is intended solely for the use of the City Council and management of the City of Andover,
the cognizant audit agency, and other federal agencies and should not be used for any other purpose.
This restriction is not intended to limit the distribution of this report which, upon acceptance by the City
Council, is a matter of public record.
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March 27, 1992
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-108-
410 PARK NATIONAL BANK BUILDING
5353 WA'rZATA BOULEVARD
MINNEAPOLIS, MINNESOTA 55416
TELEPHONE: 612-545-0424
TELEFAX: 612-545-0569
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CITY OF ANDOVER
Schedule of Findings
Year Ended December 31, 1991
Program Current Year Findings
Community Development Block Grant As of December 31, 1991, the City
has not published a policy notifying
employees that the City will provide a
drug-free workplace. Further, the
City has not established an ongoing
drug-free awareness program for its
employees.
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-109-
Amount of
Ouestioned Costs
None
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