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Home My WebLink About1991-06-10 CC Packet Special Meeting• • THE BIRTHPLACE OF MINNESOTA June 7, 1991 MEMO TO: MAYOR AND COUNCIL FROM: MARY LOU JOHNSON, CITY CLERK SUBJECT: SPECIAL COUNCIL MEETING, MONDAY AFTERNOON, JUNE 10, 1991, 4:00 P.M This memo is a reminder to Council that a Special Council Meeting has been scheduled for Monday afternoon, June 10, 1991 at 4:00 P.M. in the City Hall Council Chambers, 216 No. Fourth St., Stillwater, Minnesota to discuss the following: 1. Final Approval of Oak Glen Financing Program. 2. Any other business Council may wish to discuss. CITY HALL: 216 NORTH FOURTH STILLWATER, MINNESOTA 55082 PHONE: 612 - 439-6121 `L( �� pDAVID MAWHORTER PUBLIC SAFETY DIRECTOR POLICE CHIEF 1) 2) 91-40 THE BIRTHPLACE OF MINNESOTA DEPARTMENT OF PUBLIC �� ~~~~" ��""" "°"~~"° " ~~" " ~°~°"-"~° SAFETY " DIVISION OF POLICE Pri 1:31 Pi NI ID Li 1'4 MAYOR ABRAHAMSON, MEMBERS OF THE COUNCIL AND NILE KRlESEL, CITY COORDINATOR F=FRUT.1.1 D. P. MAWHORTER, PUBLIC SAFETY DIRECTOR 131PCIFEE= JUNE 10, 1991 FZEE:: APPOINTMENT OF TWO NEW PART lIME POLICE OFFICERS We have completed our interview process for the two part time officers approved by the Council about a month ago. We had over 50 applicants for the positions and the selection process was very difficult. As a result of the process I am recommending a resolution �N� from the Council appointing the following two persons as part time �� police officers subject successful completion of a physical examination, a psychological examination and a background investigation: KEVIN MILLER 703 W. Myrtle. Kevin is a local resident. He is with Lakeview Ambulance Service. He will be available during the day.. a time when we need the help. He can also teach first responder to our officers. This will save us quite a bit of money. CARL OLSTAD 1122 W. Myrtle. Carl is also a local resident and is with Lakeview Ambulance Service. He is available during the day and can teach first responder. These two persons were the top two finishers in the selection 212 North Fourth Street, Stillwater, Minnesota 55082 Police Phone: 612-439-1314 or 612-439-1336 °~mwnick cl= CI' rot • m'l 'ICI ow'm GORDON SEIM FIRE CHIEF • RESOLUTION NO. 91 -115 LOCAL IMPROVEMENT NO. 184 RESOLUTION ADOPTING REASSESSMENT AND ASSESSMENT WHEREAS, Minnesota Laws 1991, Chapter 291 , Article 21 , Section 21, authorizes the City to: (a) enter into an agreement with Oak Glen and all parties having recorded mortgages on the Lots, providing for a reassessment of the special assessments and interest owing with respect to Local Improvement No. 184, and the assessment of an amount equal to all ad valorem taxes, penalties and interest paid by the City, with respect to the Lots; (b) to borrow money to pay and pay all such taxes, penalties and interest; and (c) to make such reassessment and assessment pursuant to such agreement. WHEREAS this agreement has been made and executed by the necessary parties, and Oak Glen and the Mortgagors have waived all of their rights as owners or mortgagors of the Lots; (a) to published and mailed notice of such reassessment and assessment; and (b) to contest or appeal from the reassessment or assessment on procedural grounds or lack of or inadequate special benefits, NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF STILLWATER, MINNESOTA: 1. Such proposed assessment, a copy of which is attached hereto and made a part hereof (as Exhibit "A "), is hereby adopted and shall constitute a special assessment and reassessment against the lands named therein, and each tract of land therein included in hereby found to be benefited by the proposed improvement in the amount of the assessment and reassessment levied against it. 2. The amounts reassessed and assessed shall be payable in equal annual installments together with real estate taxes in the years 1992 through 1996, and shall bear interest from July 1, 1991 until paid on the balance thereof from time to time unpaid at the rate of 10% per annum. 3. The amount to be reassessed and assessed on each Lot shall constitute a first and prior lien on the Lot to the same extent and with the same effect as any special assessment levied pursuant to Minnesota Statutes, Chapter 429. 4. The reassessment and assessment shall become effective as of the date on which all ad valorem taxes payable with respect to the Lots in 1991 and prior years and all penalties and interest thereon are paid by the City, and a certified copy of this resolution and the assessment roll be filed with Washington County. 1 • • 5. The county auditor shall thereafter extend such amounts on the property tax list of the County to be collected and paid over in the same manner as other municipal taxes. Adopted by the City Council this 10th day of June, 1991. /6C-1-Lc, b -2 / 4,4 ) City Clerk Mayor June 7, 1991 Kathleen Fiedler 424 N 4th Street Stillwater, MN 55082 GAB FILE NO: INSURED: CLAIMANT: D /A: Dear Ms. Fiedler: Sincerely, 56509 -01036 City of Stillwater Fiedler 03 -1 -91 GAB Business Services Inc 9531 West 78th Street Suite 320 Eden Prairie Minnesota 55344 Telephone 612 - 942 -9818 FAX 612- 943 -2383 Claims Control Branch This is a follow -up letter regarding our phone conversation of June 7, 1991. As discussed, I find no negligence on the part of the City of Stillwater regarding your above mentioned claim. Therefore, I will not be able to make any payment to you and I am denying your claim. Julie Lassonde Adjuster JL /maz cc: ATTN: City Clerk City of Stillwater 216 N 4th Street Stillwater, MN 55082 cc: McGearry - Kearney Agency 243 South Main Street Stillwater, MN 55082 CLAIM AGAINST CITY OF STILLWATER III V NAME OF CLAIMANT p \ee ,• /vL• 'f t ec �P,� ADDRESS 424 1\46)/41 E+2%t : Al(LW / W PHONE NO(z) 3T '78 Za WHEN DID EVENT OCCUR? a .4 Arx 18-'20 t(n 1 ciq ( i Y awci a �- M �{ res r C�fK/c �' : 424 Nor • WHERE DID EVENT OCCUR ? - r'pl.E WHAT HAPPENED A .1/4 A, 7' !!!X,' "' 71.2LILizia,x _�, ,c:c,• /lti re freer; f G • i y b - = t. •vy ezt fc a e eat � , Gavle • ( 4 'n �jr sue. es ,� �ic,��t/) ' you) Cd41 WHY DO YOU FEEL THAT THE CITY WAS AT FAULT? `ti osf' reS_S �'� �ea�� r�X l % l 0 t ,_ 04,, P.,ti a[ l Cd 14 (ti1 iA.0trytvn 4 r .r N ` r Y k( -f a, j /io •n Q_ &A 1 mA) eiv .7;;. a-0 ,. Ai Q /ii.i h /e, Aid _ a4, Oa, 6 age kii. �r/2 ar u4ey.e_ }e ifeas -4 ,e A �Serv�k- Genres e., Gf/ .fi STATE THE NATURE OF THE DAMAGE AND THE COSTS ASSOCIATED _C ., � / ' 1 1‘,, a , . . s app75,g 7C4 J ,,r,cQ /ref / 43 t ,C 4b,. / / L ri I[_ /l/ ///G ('� ;loo / 3c7c1 GULL -C. / NAME OF PERSON MAKING REPAIR; OR GIVING CARE (ror,L kv Wiq - Devivel-- s o 3 iMrdek .&, A) . - t e y / :2654/ DATE SIGNATURE You have to formally notify the City in writing within thirty (30) days of the occurrence of an event whereby you feel you have suffered damages. Mayor W. Abrahamson, City Council Members 214 North Fourth 5tree't Stillwater, Minnesota. My front yard was unnecessarily excavated in search of a sewer ccnnecticn that was in no:-exi=tnce. The mosf. recent rec�rts =,s research d by 'Choc' Junker indicated t the connection was under My front yard. On Monday, March 18, 1991, CraixIand Excavating was unable tc locate my sewer problem in my fronf yard. However, after taking down cherry tree and dig;ino a large hole, no sewer connection was found. My front yard was left i a state of disrepair. An entire day of costly excavetion waS wasted. Also, there was then an extra day of upheava2 in 'sanitary living for myself and my apartment tenants to endure4. On Tuesday, March 19 1991, other city offici indicated that there was po=sibly another sewer connection on the Cherry Street Bolevard as noted in an entry from 1927. Therefore, Croi��land ��xc�vating proceede� to dig another hole on my property. They went in to another day of excavation blindly searching for my sewer connection. Finally, they were able to locate the sewer co:neotioo, but only by hitting and cracking it. I fesl fhe city of StilIwA.ter is responsible for the added expens of repairs and needless excavations, and additional upheaval of the living conditicns for my tenants and myself. Under ordinary circumstanc; the job would have taken approximately 4-6 hours as indicated Mr. Seefert of Croixland Excavating. As it occurred it required more than two full days of work. Therefore, I feel I have been injured by the city of S tillwater and that should be compensated for the expense of nee and costly excavation on my property in *.=arch of an improperly recorded sewer connection. Thank you for ca this inj;_7.ry. Yours truly, Kathleen M. Fiedler Kathleen M. Fiedler 424 North Fourth Street Si Minnesota. April 20, 1991. • • • • GIB • June 4, 1991 City Coordinator, Nile Kriesel City of Stillwater 216 North 4th Street Stillwater, MN 55082 GAB FILE NO: INSURED: CLAIMANT: D /A: Dear Mr. Kriesel: 56509 -01167 CITY OF STILLWATER LENNARTSON, THOMAS 4 -15 -91 CM: 5 -23 -91 GAB Business Services Inc 9531 West 78th Street Suite 320 Eden Prairie Minnesota 55344 Telephone 612 - 942 -9818 FAX 612 - 943 -2383 Claims Control Branch I have settled with Thomas Lennartson for $82.71. Prior to settlement, I had discussed the specifics with Mr. Junker, and it was agreed that this was a claim to settle. The contract the city of Stillwater has under Covenant No. CMC11517 has a $250 deductible for property damage under your Municipal General Liability Coverage. Please issue a check for $82.71 payable to GAB Business Services, Inc. and forward it to our office at the above address. Please have our file number 56509 -01167 somewhere on your return correspondence. Once we receive your payment, we will credit your loss run. If you should have any questions, please call. cerely, ulie Lassonde Adjuster 1 �` JL:KAR cc: McGarry- Kearney Agency 243 South Main St. Stillwater, MN 55082 • • ' • . d,6 a_ede SS Ig e6 7, j5Z 1 1 2 1 642,471 // 7 1 °4:d^ e Z"' Q/ 57.) -00 / 7353 If..29 1.57/ i3 r WE REPAIR WRECKED CARS AND MATCH PAINT • OWNER ADDRtss YEAR INSURANCE CARRIER ADJUSTER RepairlReplacel / .211.d:/.41/ BY OWNER OR AGENT t 92 O'Leary's Hideaway Autobody 468 Stillwater Road, Building C Willernie, MN 55090 (612) 426 -8720 ESTIMATE OF REPAIRS DESCRIPTION OF OPERATIONS TOTAL PHONE DATE yn 7 5,P77/ «- 29 -- 9i CAR LOCATED AT ' ! 71 (,v4 '* _ ?7‘ /s) ` % /1aV,, r- I MAK MODC L NEC NO. SPEEDOMETER MOTOR No. >,P� 7,fr,2 I �-- 1 PHONE SERIAL NO. PAINT I PARTS I LABOR x/ � . r"7 b7 Oct .;?V. l INSURED INSURANCE CO. REPAIR / 73/C. PAYS $ PAYS $ ORDER NO. TOTAL LABOR INSURANCE CHECK PAYABLE To TOTAL PARTS gJ Q The above is an estimate based on our inspection and does not cover additional parts or labor which may be required after the work has been opened up. Occasionally, after work T OTAL PAINT has started, worn, broken or damaged parts are discovered which are not evident on first inspection. Quotations on parts and labor are current and subject to change. nl fN o #10 MADE BY / 72 Tax •G THORIZATION FOR REPAIR — You are hereby authorized to make the above repairs to the car described herein. TOTAL OF ESTIMATE • June 6, 1991 �� N� FROM : Sheryl E-Marshall • Program Director RE : Taste of the Valley TO : Stillwater City Council The Stillwater Area Chamber and Downtown Business Association would like to Thank You, for your approval of Lowell Park and of a Consumption Permit during the previously scheduled Taste of the Valley. We appreciate the valuc of your time in the consideration of these requests and thank you for your approval of such events. After much consideration and discussion with participants, we have decided to cancel Taste of the Valley this year. We will be re-evaluating our set-up and look at ways to enhance this event for next years schedule. Again, thank you for your consideration in approving this event and your support of the Stillwater Area Chamber and the Downtown Business Association. Brick Alley Building • 423 So. Main Street • Stillwater, Minnesota 55082-5127 • (612) 439'7700 • • MEMO TO: MAYOR AND COUNCIL FROM: MARY LOU JOHNSON, CITY CLERK DATE: JUNE 7, 1991 SUBJECT: COUNCIL POLL -- APPROVAL OF VENDORS IN PARK ON JUNE 8 & 9, SPECIFICALLY, LARRY RENKO. As you all remember, I called yesterday with Mr. Renko's plea to be able to set up in Lowell Park on the above dates due to the fact that "Taste of the Valley" was cancelled and he was not notified until the last minute. You, the Council, approved his request and also payment of a $150.00 fee, the same as the Chamber charges. Today Mr. Renko informed me he no longer is making this special request because he has negotiated with the Chamber to be able to operate in the Park during Lumberjack Days. Therefore, there will not be any vendors in the park on this coming weekend. • • RANUM LAW OFFICES, P.A. 104 NORTH MAIN STREET STILLWATER, MINNESOTA 55082 ALBERT E. RANUM TELEPHONE KARL M. RANUM (612) 439 -4143 ERIC J. RANUM June 7, 1991 Stillwater City Council Stillwater City Hall 216 North Fourth Street Stillwater, MN 55082 Re: Ellingson, Gregg and Robin - Issuance of Building Permit for Construction on Lot 11, Outlot V, Oak Glen Addition Mayor Abrahamson and Council Members: Please be advised that I represent the interests of Gregg and Robin Ellingson in the purchase and construction of residential property located in what is presently referred to as Outlot V, in the Oak Glen subdivision. This property is, of course, part of the Oak Glen development presently proposed for platting and development by Mr. Johnson and currently the subject to both discussion and action by yourselves with Mr. Johnson and various other related agencies. The purpose of this letter is to formally make application for authority by the Council to apply and be issued and receive a permit for construction for residential improvement to the real property located in Outlot V, presently the subject to a purchase agreement between the Ellingsons and the Oak Glen Development Comany. I have observed on several occasions in the past the practice of this Council to authorize issuance of a building permit for no more than one set of residential improvements on unplatted property. It is our request that you authorize the appropriate city departments to do the same in favor of the Ellingsons on this occasion. My clients have been fully appraised by me of the very real risks involved in commencing construction of property to which they do.not hold title, as well as intended to be subject to subdivision and development. They have adamantly expressed a willingness to assume this risk and commence construction as soon as permits are issued. It is my understanding that you would require Mr. Johnson to make written warranties to my clients as to the accuracy of the survey and survey markers presently identifying the boundaries of the property subject to the purchase agreement, as well as statements of warranty as to the necessary depths the Ellingsons would need to comply with when locating their service lines for sewer and water. A "most soonest" approval date by the council is requested on behalf of the Ellingsons,as they must not only comply with the terms Stillwater City Council June 7, 1991 Page 2 of an existing purchase agreement on their present residence (vacating thereof), but also becaus new construction is inten of Homes" beginning in Se KMR :km cc: G. &. R. Ellingson they must contend with the fact that the ed to be used as a model home in the "Parade tember, 1991. With these considers ions in mind, we ask that you address this request in your meeting s heduled for Monday, June 10, 1991, between the City and Mr. Johnson. If approval is granted during that meeting, please instruct a member of your staff to contact me at this office so that I can make arrangEments to have the required paperwork submitted to the building department with a minimum of delay. Very truly yours, RANUM LAW OFFICES, P.A. Karl M. Ranum • • • • • DNR INFORMATION (612) 296 -6157 June 5, 1991 Dear Mr. Magnuson: STATE OF Mr. Dave Magnuson 324 Main Street #203 Stillwater, MN 55082 (612)439 -9464 D EPARTMENT OF NATURAL RESOURCES Re: St. Croix WAS P -4 City of Stillwater Washington County 500 LAFAYETTE ROAD • ST. PAUL, MINNESOTA • 55155 - 40 We appreciate the time that you, Nile Kriesel and Steve Russell spent with us on May 6, 1991 to continue the negotiations on the sale of the City of Stillwater's property adjacent to the Metropolitan Waste Control treatment plant. While the negotiations haven't resulted in a conclusion to the process, we have at least been able to explore and continue along avenues that lead towards that end. At the May 6th meeting we agreed to look into the possibility of an independent appraisal review of the two appraisals completed for the subject property. I am referring specifically to the appraisal completed for the City by Mr. Kirchner and the report previously completed for us by Mr. Dowidat. In the interest of good faith negotiations, the department is ready to contract with an independent qualified appraiser- reviewer to review both appraisals previously referenced and to render an opinion as to the acceptability of either report. We are also prepared to base any future offer to the City on that arbitration review and resume negotiations at that time. We will acquire this review of the appraisals at our cost and there should be no additional appraisal costs to the City of Stillwater. Before proceeding along this route, we would very much appreciate your review of the enclosed list of qualified reviews and give us your recommendation from that list. Also, we would be interested in your thoughts on this proposed arbitration review before we proceed. In the interest of an expeditious resolution of our current negotiation impasse, we would like to move forward with this proposal in a cooperative spirit with the City as soon as possible. Your quick attention to this proposal would be greatly appreciated and I am willing to answer any questions or concerns you may have. The Legislature has reaffirmed their support for securing additional public water access sites. The general boating public continues to support the reopening of an access in this area. Breaking the impasse in the property valuation negotiations will allow the City, the DNR and other parties to AN EQUAL OPPORTUNITY EMPLOYER 'Mr. Dave Magnuson June 5, 1991 Page 2 continue the cooperative partnership that was established in the Memorandum of Understanding signed November 15, 1989. • • Again, if you have any questions, please call me at 296 -0628. Thank you for your time and consideration of this matter. Sincerely, gA1-1 Stephen Kartak Realty Supervisor cc: Mike Markell, MN DNR Karen Bowen, MN DNR Regional Administrator Nile Kriesel, City Administrator Wallace Abrahamson, Mayor of Stillwater Stephen Russell, Community Development Director Allan Robbins - Fenger, MN DNR • • Dwight W. Dahlen Dahlen & Dwyer Inc. 1260 Norwest Ctr. Tower 55 5th St. E St. Paul, MN 55101 (612)224 -1381 Dennis W. Jabs Arthur Anderson Co. 45 South 7th St. Minneapolis, !1N 55402 (612)334 -4538 Alan P. Leirness Robert Boblett Assoc. Inc. 607 Marquette Avenue Minneapolis, MN 55402 (612)333 -6515 Everet D. Strand Kramer Geisler & Strand Inc. 11900 Wayzata Boulevard Suite 232 Minnetonka, MN 55343 (612)545 -9575 Private Fee Appraisers • a ociation of metropolitan municipalities June 6, 1991 To:. Member City Officials FROM: Bob Long, President BUT WE NEED YOUR HELP! BULLETIN RE: AMM legislative policy committee membership; line item veto of portions of tax bill AMM Legislative Policy Committees need volunteers AMM Legislative Policy Committees need YOU! As city officials, can you afford to speculate and anticipate what the governor and the Legislature might do? Many critical issues face the cities. As we learned during the recently concluded session, we must let the Legislature know what we think would be the best solutions for our cities. We were behind the doors during sensitive negotiations on the omnibus tax bill - not on the outside looking in. Why? We had cogent policy and articulate, persistent presentation. To help develop these good government solutions, we look to our legislative policy study committees. The AMM Board of Directors will be making two -year appointments to these committees - the backbone in developing organizational goals and positions on issues, and in determining the future role of our cities. It is important for your city to be represented on one or more of these committees so your views may be expressed and included in the critical development stage of AMM policy - setting. Only through active participation by city officials such as you can decisive, insightful and well plotted positions on critical metro problems be developed, presented to the Legislature and the govemor, and won. We cannot afford to be silent. We cannot afford to be the perennial convenient chopping block when the state runs into fiscal roadblocks. We cannot allow the state to pre -empt local ordinances or impose new mandates without consideration of the fiscal impact on cities. We can counter these very real scenarios by developing clear, strong policies in the areas of metro agencies, revenue, housing, transportation and general legislation. Please take a few minutes to review the description of the five standing committees and volunteer a small amount of your time to make an impact by completing and returning the enclosed form. The committees generally meet about four times each year in August and September. The Board of Directors would like a 183 university avenue east, st. paul, minnesota 55101 (612) 227 -4008 • • s clear indication of all persons willing to give a part of their time and energy to serve one or more of the committees. The Board also welcomes suggestions for specific issues or concerns that could be studied by the committees. If you have questions, please contact either Roger Peterson or Vern Peterson in the AMM Office (227 - 4008). The Board of Directors has decided to examine the state of metropolitan governance generally and the Metropolitan Council specifically. To that end, a task force is being formed through the auspices of the Metro Agencies Committee, chaired by Bill Barnhart. The task force will examine in depth metro governance and what changes should, or could, be made. Such a study is timely in light of Gov. Arne Carlson's giving notice that the Met Council will be disbanded unless it can become more meaningful and relevant. The task force is not limited to Metro Agencies Committee members. While its membership would be drawn wholly from within AMM, the task force would listen to suggestions and thoughts from other "good government" organizations. Omnibus Tax Bill - Line -item Veto Regarding the line -item veto of the omnibus tax bill, the veto by Carlson did not change the optional half -cent sales tax mechanism, nor did it substantially change the two -cent dedication for local government aid. The governor vetoed the section that appropriated the trust fund distribution for the states next biennium (FY 1994 and FY 1995). This would affect city calendar years 1993 and 1994. The disagreement was over how much of the growth in the two -cent sales tax dedication would be returned to the state budget versus how much would be available for future aid increases. Clearly there was - or is - confusion among the governor's representatives on this issue, but the veto does not change the near future as far as cities are concerned. The veto does, however, indicate the direction for 1992 action. Cities must be very forceful in the 1992 session to: 1. establish a fair and equitable aid distribution system; 2. ensure that the two -cent dedication continuation includes growth; and, 3. initiate discussions for a constitutional dedication of the two -cent revenue stream for local government. The governor has issued to us a challenge. We need to be prepared to meet that challenge if the half -cent sales tax option and the two -cent dedication is to be truly meaningful and truly signify the beginning of the separation of local funding from the state. It should be noted that the other line item veto was for a city /town/county cooperation and consolidation provision that was not supported by AMM. Current law provides appropriate mechanisms to accomplish cost - saving joint power operations. DISTRIBUTION NOTE: This bulletin has been distributed to Mayors, Managers/Administrators and Council members. However, if other city employees such as finance directors, housing officers, planner, for example, would like to serve on an AMM legislative policy committee, please submit their names. • • AMM Legislative Policy Committee Descriptions J. METROPOLITAN A f:FNruFc COMMTTTEF Considers legislative issues and other policy issues related to the Metropolitan Council and Metropolitan Agencies. The committee monitors the structure and relationship between the regional entities and local units of government, and reviews amendments to the Metropolitan Development Guide Policy Chapters or any new chapters developed. The committee has previously developed policy on land uie planning, metropolitan significance, solid waste management and Met Council selection process. It also reviews the Council's yearly budget. 1A. METRO GOVERNANCE STUDY TASK FORCE A special task force under the guidance of the Metropolitan Agencies Committee is being formed this year to make a detailed and thorough analysis of the governance system in metropolitan area. This would include a look at the role the Metropolitan Council and the Metropolitan Agencies (RTB, MWCC, MTC, MPOSC) play in the governance system, and what changes should be made. The task force also will look at the necessary regional tasks to be performed and make recommendations with respect to which unit or level of government could perform those tasks most effectively. This will be an intensive effort that probably will take a year to complete. City officials may serve on this special task force without being a member of the full Metropolitan Agencies Committee. 2. MUNICIPAL, REVENUES COMMITTFF. Considers any matter concerning city revenues, property taxes and city expenditures, including state aid formulas and dollars, levy limits, property tax assessments and fiscal disparities. The committee will be looking carefully at the effects of the 1991 omnibus tax bill. Areas of concentration would include the two -cent sales tax dedication, a new aid formula and distribution of growth of the two-cent sales tax revenue. A constitutional amendment for the sales tax dedication will be discussed. 3. HOUSING AND ECONOMIC DEVELOPMENT Considers all issues related to economic development and housing, including subsidized housing, affordable housing, and activities of the Metropolitan HRA. Reviews all amendments to the Metropolitan Council's Housing Guide Policy Chapter. Reviews and develops policy dealing with economic development issues, HRAs, Tax Increment Financing (1 th) and development authorities. 4. TRANSPORTATION COMMITTEE Considers all major issues related to air and surface transportation, including funding sources at all government levels. The 10 elected officials who represent the AMM on the Transportation Advisory Board (T.A.B.) and the eight city staff officials who represent AMM on the Technical Advisory Committee (TAC) are encouraged to be members of this committee, along with other city officials. 5. GENFRAI,1,FGISLATION COMMITTFF, Considers issues which have impact on metropolitan area cities outside the scope of other AMM committees. In the past, this committee developed policy on issues such as municipal consolidation, pensions, PERLA, comparable worth, data privacy, contractor licensing and local control/authority. • • Name Preferred Mailing Address: Preferred Telephone Contact Number: 1 1 1 1 1 1 1 1 1 1 1 1 Suggested Issues to Be Studied: Please Return to: Policy Committee Sign -Up Form (Please return no later than June 24, 1991) City Title City (street) (city) (ZIP code) Please Indicate Committee Choice: (first and second choice) Municipal Revenues Metropolitan Agencies Metropolitan Governance Study Task Force only Housing and Economic Development General Legislation Tranportation Association of Metropolitan Municipalities 183 University Ave., East St. Paul, Minnesota 55101 Attn: Carol Williams BOB LONG Councilmember June 4, 1991 Wally Abrahamson Mayor of Stillwater 216 N 4th Street Stillwater MN ,. 55082 Dear MaSio Abraha on : CITY OF SAINT PAUL OFFICE OF THE CITY COUNCIL I am writing to let you know that I have withdrawn my name from consideration for the position of League of Minnesota Cities Vice President. This has been a very difficult decision, but one that was necessitated by very important family considerations. My father was recently diagnosed as having inoperable pancreatic cancer. His condition appears to be rapidly deteriorating. With my father's current health condition and a poor prognosis for future improvement, I do not feel I could devote adequate attention to the Vice President position and still spend the kind of time that I will want to spend with my father during these next several difficult months. Your strong support of my candidacy has been greatly appreciated. I have never taken on a responsibility half - heartedly, and I do not intend to start with this particular endeavor. Although this has been a tough decision personally, my decision has been made easier knowing that the LMC will be in good hands under the leadership of the remaining candidate, Larry Bakken. I look forward to continuing my active involvement with the LMC and working with you in the future. Once again, thank you for your friendship and support. Please let me know if I can ever give you the kind of help you have given me in this effort. BOB LONG Councilmember BL:chr CITY HALL SEVENTH FLOOR SAINT PAUL, MINNESOTA 55102 Sa Printed on Recycled Paper 612/298 -4473 • May 29, 1991 Dear Community Member, We are once again planning the annual drug and Ribbon Campaign in Washington County. We are seeking representatives from over the County to assist in the development and implementation and coordination of the campaign which will be held in late October or early November. We invite your participation in this event. 3M will once again be providing ribbons at a minimal cost. Could you or a representative of your organization join us in the initial planning for your area. We need your creative genius to make this the biggest and best Red Ribbon Campaign yet. What we are seeking is coordination of distribution and publicity for the campaign. Areas which need to be represented include government, businesses, churches, and civic and service groups. However, there is no limit to who participates; individual to corporate in size. Important Date: Don't forget the date! If you cannot attend in participating, please return the following Sincerely, HUMAN SERVICES, INC. , IN WASHINGTON COUNTY, MINNESOTA June 17, 1991 1:00 - 3:00 P.M. HSI, Stillwater, (612) 430 -2720 Carol Tschida Community Services Coordinator CT /ds AN EQUAL OPPORTUNITY EMPLOYER but are interested form. 1825 Curve Crest Boulevard — Stillwater, MN 55082 — (612) 430 -2720 BOARD OF DIRECTORS Arline Beutel, Chairman Donald T. Raleigh, Vice Chairman Betty Lucivansky, Treasurer Leonard Snellman, M.D., Secretary Connie Adams Sarah Andersen Louise Johnson David Kulenkamp Carroll J. O'Boyle Paul A. Wolff EXECUTIVE DIRECTOR Stanley J. Keeley, MSW alcohol abuse Red Mayor Wally Abrahamson 216 N. Fourth St. Stillwater, MN 55082 Dear Mayor Abrahamson, as in Lott Gaunt pizf ricat ,$orie#g P. 0. Box 167 Stillwater, Minnesota 55082 June 5, 1991 This year, the Washington County Historical Society will note the 50th anniversary of the opening of its Stillwater museum to the public. The museum is located in the former Warden's House of the Minnesota Territorial Prison, one of the ten oldest homes in the state. On Sunday, June 23, at 2:00 p.m. a brief ceremony will be held at the museum, 602 North Main Street, Stillwater, commemorating this event. The Society would be honored to have you present at this historic occasion. Please let us know if we may have the pleasure of your attendance at the ceremony. RSVP (612) 439 -5956 ttr?en's Aouse C Museum 602 N. Main Street Stillwater, MN 439 -5956 Cordially, e4et Johttnnes 7&rickson lCiog &bin lttt ' inke School c filuseum Co. Rd. 3 & Old Marine Trail Scandia, MN 433 -2762 Charles Woodward President WCHS !auntie(' (demeteq Boutwell Road Near Co. Rd. 15 Stillwater, MN ,r• // !99t a2t-- • - To the Honorable Mayor and Members of the City Council City of Stillwater, Minnesota McGLADREY & PULLEN Certified Public Accountants and Consultants We have audited the general purpose financial statements of the City of Stillwater, as of and for the year ended December 31, 1990, and have issued our report thereon dated April 19, 1991. Our audit was made in accordance with generally accepted auditing standards and the provisions of the Minnesota Leaal Compliance Audit Guide for Local Government promulgated by the Legal Compliance Task Force pursuant to Minnesota Statute Section 6.65. Accordingly, the examination includes such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances. The Minnesota Leaal Compliance Audit Guide for Local Government 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 Stillwater complied with the material terms and conditions of applicable legal provisions. Further, for the items not tested, based on our examination and the procedures referred to above, nothing came to our attention to indicate that the City of Stillwater had not complied with such legal provisions. This report is intended solely for the use of the City of Stillwater and should not be used for any other purpose. This restriction is not intended to limit the distribution of this report, which is a matter of public record. Stillwater, Minnesota 7 April 19, 1991 \A McGLADREY & PULLEN Certified Public Accountants and Consultants To the Honorable Mayor and City Council City of Stillwater Stillwater, Minnesota In planning and performing our audit of the financial statements of the City of Stillwater, for the year ended December 31, 1990, we considered its internal control structure in order to determine our auditing procedures for the purpose of expressing our opinion on the financial statements and not to provide assurance on the internal control structure. However, we noted certain matters involving the internal control structure and its operations 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 judgment, could adversely affect the City's ability to record, process, summarize, and report financial data consistent with the assertions of management in the financial statements. The City does not have adequate internal control procedures due to the limited opportunity for segregation of duties. A system of internal control procedures contemplates an adequate segregation of duties so that no one individual handles a transaction from its inception to its completion. While we recognize that the City is not large enough to permit an adequate segregation of duties for an effective system of internal control procedures, it is important that you be aware of this condition. In addition, we have the following suggestion to aid in developing and improving business practices. Some of these matters have been discussed previously with you or your staff. Invoices In some instances invoices are not initialled for approval before payment. To assure all disbursements are appropriate, we recommend all invoices be initialled for approval by the department head before payment. This should include invoices for which purchase orders have previously been approved. This report is intended solely for the information and use of the City Council, management, and others within the City. We would like to express our appreciation for the cooperation extended to us during the audit. Stillwater, Minnesota April 19, 1991 CITY OF STILLWATER, MINNESOTA NILE L. KRIESEL, CITY COORDINATOR REPORT PREPARED BY DIANE DEBLON, FINANCE DIRECTOR COMPREIiENSIVE ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED DECEMBER 31, 1990 MEMBER OF GOVERNMENT FINANCE OFFICERS ASSOCIATION OF THE UNITED STATES AND CANADA INTRODUCTORY SECTION CITY OF STILLWATER, MINNESOTA COMPREHENSIVE ANNUAL FINANCIAL REPORT For Fiscal Year Ended December 31, 1990 Table of Contents Page INTRODUCTORY SECTION Letter from Finance Director 1 GFOA Certificate of Achievement 7 Organization Chart 8 List of Principal Officers 9 FINANCIAL SECTION Independent Auditor's Report on the General Purpose Financial Statements and the Supplementary Information 10 General Purpose Financial Statements Combined balance sheet'- all fund types and account groups 11 Combined statement of revenues, expenditures and changes in fund balance - all governmental fund types 15 Combined statement of revenues, expenditures and changes in fund balance - budget and actual - general and budgeted special revenue funds 17 Combined statement of revenues, expenses and changes in retained earnings - 411 proprietary fund types 19 Combined statement of ;ash flows - all proprietary fund types 20 Notes to financial statements 21 Combining and Individual Fund Statements and Account Groups General fund Comparative balance sheets 47 Statement of revenues, expenditures and changes in fund balance - budget and actual 48 Special revenue funds Combining balance sheet 53 Combining statement of revenues, expenditures and changes in fund balance 55 Combining balance sheet - Library Trust 65 Combining statement of revenues, expenditures and changes in fund balance - Library Trust 67 Statement of revenues, expenditures and changes in fund balance - budget and actual 69 Special events 59 Browns Creek watershed district 60 Middle River watershed district 61 Library 62 Park 63 Washington County recycling grant 64 Library trust 65 CITY OF STILLWATER, MINNESOTA C O N T E N T S Page Debt service funds Combining balance sheet 70 Combining statement of revenues, expenditures and changes in fund balance 74 Capital projects funds Combining balance sheet 78 Combining statement of revenues, expenditures and changes in fund balance 80 Construction and acquisition costs 82 Enterprise funds Combining balance sheet 86 Combining statement of revenues, expenses and changes in retained earnings 88 Combining statement of cash flows 90 Sanitary Sewer Fund - Comparative balance sheets 92 Sanitary Sewer Fund - Comparative statements of revenues, expenses and changes in retained earnings 93 Solid Waste Collection Fund - Comparative balance sheets 94 Solid Waste Collection Fund - Comparative statements of revenues, expenses and changes in retained earnings 95 Parking System Fund - Comparative balance sheets 96 Parking System Fund - Comparative statements of revenues, expenses and changes in retained earnings 97 Lily Lake Park Fund - Comparative balance sheets 98 Lily Lake Park Fund - Comparative statements of revenues, expenses and changes in retained earnings 99 Waterworks Fund - Comparative balance sheets 100 Waterworks Fund - Comparative statements of revenues, expenses and changes in retained earnings 102 Agency funds Combining statement of changes in assets and liabilities 104 Schedule of general long -term debt 105 Schedule of general fixed assets 106 Schedule of changes in general fund fixed assets by function 107 Schedule of sources and uses of public funds - Development District #1, Tax Increment District #1 108 Schedule of sources and uses of public funds - Development District #1, Tax Increment District #2 109 Schedule of sources and uses of public funds - Development District #1, Tax Increment District #3 Schedule of sources and uses of public funds - Development District #1, Tax Increment District #4 Schedule of sources and uses of public funds - Development District #1, Tax Increment District #5 STATISTICAL SECTION CITY OF STILLWATER, MINNESOTA C O N T E N T S Page 110 111 112 General government expenditures by function - last ten fiscal years 113 General government revenues by source - last ten fiscal years 115 Property tax levies and collections - last ten fiscal years 117 Assessed and estimated actual value of property - last ten fiscal years 119 Property tax rates, direct and overlapping governments - last ten fiscal years 121 Schedule of principal taxpayers 123 Ratio of net general obligation bonded debt to assessed value and net general obligation debt per capita 125 Computation of legal debt margin 127 Schedule of insurance in, force and officials' bonds 128 Special assessment billings and collections - last ten fiscal years 130 General obligation revenue bond coverage - last ten fiscal years 131 Computation of direct and overlapping bonded debt 132 Ratio of annual debt service expenditures for general obligation bonded debt to general government expenditures 133 Property value, construction and bank deposits - last ten fiscal years 134 Demographic statistics 135 Miscellaneous statistics 136 May 30, 1991 Councilmembers: water. 1 THE BIRTHPLACE OF MINNESOTA Honorable Mayor and Members of the City Council City of Stillwater, Minnesota 55082 The Comprehensive Annual Financial Report of the City of Stillwater for the fiscal year ended December 31, 1990, is hereby submitted. Responsibility for both the accuracy of the data, and the completeness and fairness of the presentation, including all disclosures, rests with the City. To the best of our knowledge and belief, the enclosed data is accurate in all material respects and is reported in a manner designed to present fairly the financial position and results of operations of the various funds and account groups of the City. All disclosures necessary to enable the reader to gain an understanding of the City's financial activities have been included. The Comprehensive Annual Financial Report is presented in three sections: Introductory, Financial and Statistical. The introductory includes this transmittal letter, the City's organizational chart and a list of City Officials. The Financial Section includes the general purpose financial statements and the combining and individual fund and account group financial statements and schedules, along with the auditors report on the financial statements. The Statistical Section includes selected financial and demographic information, generally presented on a multi -year basis. The funds related to the City of Stillwater included in our Comprehensive Annual Report are those considered to be within the oversight responsibility of the City Council. The criteria used in determining the reporting entity is consistent with those established by the Governmental Accounting Standards Board. Based on these criteria, all funds and account groups of the City are included in this report. In addition to general government activities, the City Council exercises, or has the ability to exercise, oversight of the Water Board and Library Board. Therefore, these activities are included in the reporting entity. However, the Stillwater Fire Relief Association, Independent School District No. 834 and the Metropolitan Waste Control Commission have not met the established criteria for inclusion in the reporting entity, and accordingly are excluded from this report. The City provides its residents and businesses a full range of municipal services. These services include police and fire protection; sanitation services; the construction and maintenance of streets and infrastructure; recreational and cultural activities. CITY HALL: 216 NORTH FOURTH STILLWATER, MINNESOTA 55082 PHONE: 612 - 439 -6121 Economic Condition and Outlook Stillwater is located in central Washington County on the St. Croix River, approximately 20 miles east of the Minneapolis /Saint Paul metropolitan area. Stillwater encompasses an area of approximately 5.75 square miles (3,750 acres). According to the 1990 Federal Census Bureau, the City's population was 13,882. Although the City's tax base is primarily residential, the economy is influenced by a large number of public' employers. Stillwater is the Washington County Seat and the headquarters for Independent School District #834 and the adjacent cities of Bayport and Oak Park Heights are the homes of two major state correctional facilities. The Stillwater area is also influenced by the Andersen Window, Corp., located in Bayportwhich employs approximately 4700 people. Major Initiatives During 1988, the City Council identified several major needs in the downtown area of the City and addressed these needs with the study and adoption of the "Downtown Plan ". Infrastructure and parking needs were analyzed in detail, with major improvements to streets and image enhancement also included. As part of the infrastructure needs, sanitary and storm sewer lines will be separated and upgraded, which will result in cost savings to the City for the amount of flow running through the sanitary sewer lines. Also, the Plan was prepared within the framework of enhancing the historical flavor and aesthetic appeal of the oldest City in the State of Minnesota. The entire Downtown Plan is a comprehensive project expected to cost $12 million with major funding sources for the implementation to be financed with tax increment revenue and special assessments. The City has established five tax increment financing districts with the purpose of pooling any and all excess increment for the downtown tax increment district. It is anticipated that 70 percent of the improvements will be financed with tax increment and the remainder financed with special assessments. Other methods being explored include the creation of special taxing districts for parking and storm sewer. The "Downtown Plan" specifics have continued to be refined during 1990, with the involvement of civic groups and merchants for their ideas and input to the plan. Plans and specifications for Phase I of the Downtown Plan were prepared and presented during 1990. Phase I includes replacement and /or repair of utilities (water, sewer and storm sewer), repair and /or reconstruction of streets, curb and gutter, sidewalks, lighting, landscaping, parking lot improvements and (in certain areas) undergrounding of electric utilities. Three phases are planned with Phase I implementation scheduled to begin in June 1991. Major improvements were made to several of the City's parks and ballfields during 1990 to provide the residents with additional quality recreational facilities. Land was purchased to assist redevelopment in the downtown and negotiations begun on land purchase for a new armory site. Other major projects that are in the planning and /or construction process include: an office /warehouse building, senior housing, an auto service center, a restaurant and residential housing in a recently annexed 82 acre site. 2 Financial Information INTERNAL CONTROLS. Management of the City is responsible for establishing and maintaining an internal control structure designed to ensure that the assets of the City are protected from loss, theft or misuse and to ensure that adequate accounting data are compiled to allow for the preparation of financial statements in conformity with generally accepted accounting principles. The internal control structure is designed to provide reasonable, but not absolute, assurance that these objectives are met. The concept of reasonable assurance recognizes that: (1) the cost of a control should not exceed the benefits; and (2) the valuation of costs and benefits requires estimates and judgments by management. BUDGETING CONTROLS. In addition, the City maintains budgetary controls. The level of budgetary control (that is, the level of which expenditures cannot legally exceed the appropriated amount) is established at the fund level. Activities of the general fund and special revenue funds are included in the annual appropriated budget except for the following special revenue funds: Friends of Police Department, Friends of Fire Department and Park Dedication, Infrastructure Reserve, D.A.R.E. and Dutch Elm. The activities of the Friends of Police Department, Friends of Fire Department and D.A.R.E. funds are financed with donations from various sources. The City does not adopt budgets nor does it appropriate any additional revenues for these funds. In addition, only after funds are received may expenditures be made from these funds and, any expenditures for these funds must first be approved by the City Council. The Infrastructure Reserve, Park Dedication and Dutch Elm did not have any planned expenditures for 1990. As demonstrated by the statements and schedules included in the Financial Section of this report, the City continues to meet its responsibility for sound financial management. GENERAL GOVERNMENT FUNCTIONS The following schedule presents a summary of General Fund, Special Revenue Fund and Debt Service Fund revenues for the fiscal year ended December 31, 1989 and the amount and percentage of increases and decreases in relation to prior year revenues: Increase Percent of Percent (Decrease) Increase Revenues Amount of Total from 1989 (Decrease) Taxes $2,690,128 34.50 $ 324,151 13.70 Licenses & Permits 128,786 1.65 (9,848) (7.10) Fines and Forfeits 129,387 1.66 34,891 36.92 Charges for services 274,231 3.52 24,765 9.93 Intergovernmental Revenue 1,907,645 24.46 (108,048) 5.4 Special Assessments 2,047,048 26.25 1,505,309 227.87 Interest 500,328 6.41 164,932 49.18 Miscellaneous 120,669 1.55 (98,550) (44.96) $7,798,222 100.00 $1,837,602 3 The largest dollar increase in revenue was derived from special assessments. This is attributed to the increase in collections for the Oak Glen Improvement project, of which there was a significant increase in the collection of delinquents and prepayments received. The revenue increase of $324,151 in taxes is directly attributed to the loss of local government aid in the amount of $401,047. While the City lost this aid, the State of Minnesota passed this aid on to the school districts for direct support of education. Even though the City's tax rate increased, the school district's tax rate decreased accordingly. The outcome of this aid transfer was a lower total tax rate (all jurisdictions combined) in 1990 than in 1989. The largest decrease in revenue was from intergovernmental revenue and is attributed to the decrease in local government aid. The following schedule presents a summary of General Fund, Special Revenue funds and Debt Service Fund expenditures for the fiscal year ended December 31, 1989 and the amount and percentage of increases and decreases in relation to prior year amounts. Percent of Percent of Increase Increase Expenditures Amount Total (Decrease) (Decrease) Current: General Government $ 658,586 10.43 $ 32,045 5.11 Public Safety ,1,838,908 29.14 118,687 6.90 Public Works 738,055 11.69 (32,987) (4.28) Culture and Recreation 763,779 12.10 111,304 14.57 Other 78,866 1.25 28,788 57.49 Capital Outlay 242,871 3.85 (318,448) (56.73) Debt Service: Principal 990,000 15.68 (240,000) (19.51) Interest and Service Charges 1,001,426 15.86 27,941 2.87 Total $6,312,491 100.00 $ (272,670) The $118,687 increase in public safety expenditures is due to additional personnel in the police department. Of the $111,304 increase in expenditures for culture and recreation, $71,569 is for increased expenditures in the operations of the library and $38,599 is for increased operating expenditures for the parks. General Fund Balance The fund balance of the General Fund increased $413,785 which is a 20 percent increase from 1989. The $1,797,081 fund balance designated for working capital will provide financing for General Fund operations until tax and intergovernmental revenues are received in June. 4 Enterprise Operations The City's enterprise funds consist of sanitary sewer, solid waste, parking, Lily Lake and waterworks funds. The sewer rates for the City are a major concern and initiatives to address these concerns were discussed as part of the "Downtown Plan ". The City of Stillwater is included in the Metropolitan Waste Control Commission (MWCC) which is an organization created by the state to facilitate the disposition and treatment of sewer waste for the seven - county metropolitan area. As part of this organization, the MWCC charges fees to the City based on sewage flowing to the treatment plants. The cost of this service has risen dramatically (59 percent) in the last five years. The City continues to pursue alternative methods of reducing these increased costs, not only for the downtown, but for the City as a whole. The Solid Waste Fund is currently subsidized by the General Fund (for senior citizens), and by county recycling grants. The City is faced with increased landfill costs (as are most cities) and will be exploring volume - based fees for the future. Recycling continues to be expanded as the need for this increases. The Parking System has been revised in the downtown in an effort to meet the needs of the merchants and the public. The City Council authorized the removal of parking meters and adopted two -hour parking to be enforced with fines. The new parking plan has been enthusiastically received by merchants and has alleviated the parking problems in the downtown. Purchase and /or rental of additional parking areas are being explored to meet the increasing demand for parking. The Lily Lake athletic complex includes an ice arena, swimming beach and ballfields. The fees charged to support this fund have not increased since 1987, while the operating expenses have increased 27 percent since 1987. The operation and maintenance of the ballfields and beach are supported by the City parks department. The Parks and Recreation Board reviews the fee structures and make recommendations to the City Council annually. The Waterworks Fund provides city water service and is managed, operated and maintained through the Board of Water Commissioners. The City provides funding for new and replacement infrastructure. Debt Administration At December 31, 1990, the City had a number of debt issues outstanding. These issues included $8,115,000 of general obligation improvement bonds, $5,500,000 of general obligation bonds and $230,000 of revenue bonds. The City has maintained its A rating from Moody's Investors Service. Under current state statutes, the City's general obligation bonded debt issuances are subject to a legal limitation based on two percent of total estimated market value of real and personal property. As of December 31, 1989, the City's net general obligation bonded debt of $3,650,000 was well below the legal limit of $9,241,222 and net debt per capita equaled $230.31. On November 1, 1990, the City issued $1,350,000 of general obligation improvement capital outlay bonds. The bonds average net interest rate is 6.5 percent. 5 Cash Management The City of Stillwater subscribes to the "pooled cash" concept of investing which means that all funds with cash balances participate in an investment pool. This permits some funds to be overdrawn and other funds to show cash balances while the City overall has a cash balance. Interest is earned and charged between funds for advances to /from funds. This pooled cash concept provides for investing greater amounts of money at more favorable rates. The City typically invests its funds in the following investment instruments: certificates of deposit, bankers acceptance, commercial paper, U.S. government obligations and repurchase agreements. These investment instruments are all legally allowed under state statutes and the city maintains sufficient collateral as required by law. Interest earnings are then allocated to the participating funds. During 1990, the City of Stillwater earned $580,926 in interest revenue. Independent Audit State statutes require an annual audit of the City's accounts by the Minnesota State Auditor or by independent certified public accountants. The auditor's report on the general purpose financial statements and combining and individual fund statements and schedules is included in the financial section of this report. Certificate of Achievementfor Excellence in Financial Reporting The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the City of Stillwater for its comprehensive annual financial report for the fiscal year ended December 31, 1989. The Certificate of Achievement is the highest form of recognition for excellence in state and local government financial reporting. In order to be awarded a Certificate of Achievement, a governmental unit must publish an easily readable and efficiently organized comprehensive annual financial report, whose contents conform to program standards. Such comprehensive annual financial report must satisfy both generally accepted accounting principles and applicable legal requirements. A Certificate of Achievement is valid for a period of one year only. The City of Stillwater has received a Certificate of Achievement for the fiscal year ended 1989. We believe our current report continues to conform to the Certificate of Achievement program requirements and we are submitting it to GFOA. Acknowledgements The preparation of the comprehensive annual financial report on a timely basis could not have been accomplished without the cooperation of the entire staff of the Finance Department and the assistance of the independent auditors. In addition, I would like to thank Monica Price and Sheila McNamara for their contribution to this report. 6 Respectfully submitted, b( 'W'f Diane Deblon Finance Director Certificate of Achievement for Excellence in Financial Reporting Presented to City of Stillwater, Minnesota For its Comprehensive Annual Financial Report for the Fiscal Year Ended December 31, 1989 A Certificate of Achievement for Excellence in Financial Reporting is presented by the Govemment Finance Officers Association of the United States and Canada to government units and public employee retirement systems whose comprehensive annual financial reports (CAFR's) achieve the highest standards in government accounting and financial reporting. President y o . ,/ o g-de Executive Director -7- NM MN =• all — r MI •• — r I E•• I• CITIZENS OF STILLWATER 1 1 1 COMMUNITY CITY CLERK FINANCE DEVELOPMENT DIRECTOR DIRECTOR i CITY COUNCIL i BOARDS AND COMMISSIONS CITY COORDINATOR BUILDING OFFICIAL PUBLIC SAFETY DIRECTOR CITY ATTORNEY PUBLIC WORKS DIRECTOR i ADMIN. FINANCE COMMUNITY BUILDING POLICE FIRE ASSISTANT ASSISTANT OFFICE DEPARTMENT DEVELOPMENT INSPECTOR DEPARTMENT CHIEF PUBLIC WORKS PUBLIC WORKS DIRECTOR DIRECTOR I 1 I FIRE STREETS, I I PLANNING DEPARTMENT SEWER AND PARKS ICE AND GARAGE DEPT. ARENA ZONING MGR. LILY LAKE COMPLEX CITY OF STILLWATER, MINNESOTA LIST OF PRINCIPAL OFFICERS December 31, 1990 Title Name Mayor Wallace Abrahamson Councilmember Ann Marie Bodlovick Councilmember Jay L. Kimble Councilmember Thomas Farrell Councilmember Roberta Opheim Coordinator Nile L. Kriesel Attorney David T. Magnuson Clerk Mary Lou Johnson Community Development Director Steve Russell Finance Director Diane Deblon Fire Chief Gordy Seim Library Director Lynne Bertalmio Park Superintendent Dick Blekum Police Chief David Mawhorter Public Works Director David Junker Water Superintendent Dennis McKean 1 1 1 1 1 1 1 1 1 1 1 1 1 FINANCIAL 1 SECTION 1 1 1 1 INDEPENDENT AUDITOR'S REPORT ON THE GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION To the Honorable Mayor and Members of the City Council City of Stillwater, Minnesota McGLADREY & PULLEN Certified Public Accountants and Consultants We have audited the accompanying general purpose financial statements of the City of Stillwater, Minnesota as of and for the year ended December 31, 1990, 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. 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 financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the general purpose financial statements referred to above present fairly, in all material respects, the financial position of the City of Stillwater, Minnesota as of December 31, 1990, and the results of its operations and the cash flows of its proprietary fund type for the year then ended, in conformity with generally accepted accounting principles. Our audit was made for the purpose of forming an opinion on the general purpose financial statements taken as a whole. The combining, individual fund, and individual account group financial statements and schedules listed in the accompanying table of contents are presented for purposes of additional analysis and are not a required part of the general purpose financial statements of the City of Stillwater, Minnesota. Such information, except for the statistical information beginning on page 111, on which we express no opinion, 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. Stillwater, Minnesota April 19, 1991, except for Note 22, as to which the date is June 4, 1991 -10- GENERAL PURPOSE FINANCIAL STATEMENTS ASSETS CITY OF STILLWATER, MINNESOTA COMBINED BALANCE SHEET ALL FUND TYPES AND ACCOUNT GROUPS December 31, 1990 (With comparative totals for December 31, 1989) Cash and investments Escrow deposits Accrued interest receivable Accounts receivable Loan receivable Taxes receivable: Delinquent Due from County Special assessments receivable: Delinquent Deferred Special deferred Tax forfeit land Notes receivable Due from county Due from other governments Due from other funds Advance to other funds Inventory Prepaid expenses Fixed assets, net Notes receivable, long -tern Amount available in Debt Service Fund Amount available in General Fund Amount to be provided for retirement of general long -term debt Governmental Fund Types Special Debt Capital General Revenue Service Projects $ 1,829,052 $ 20,978 8,945 127,296 421,055 891 26,909 43,585 328,867 2,710 Total assets $ 2,810,288 $ See Notes to Financial Statements. 397,853 $ 4,369,868 $ 1,817,869 4,335 34,649 12,747 1,836 315,948 27,451 268,845 310 217 32,359 498,726 464 907,500 1,123 4,295,863 494 27,644 280 5,131 41,653 303,369 21,192 212,379 406,912 $10,487,688 $ 2,705,505 Proprietary Fiduciary Fund Type Fund Type Enterprise Agency $ 809,420 $ 365,863 $ 37,745 12,793 - 483,972 1,578 6,708 778 6,150 36,964 227,657 4,458 56,550 85,179 7,896,083 9,574 $ 9,675,609 $ 365,863 Account Groups General General Fixed Long -Term Assets Debt - 5,795,256 $ -12- - $ 9,589,925 - 37,745 - 85,502 - 838,152 - 268,845 - 203,196 - 1,223,367 - 4,864,608 - 362,373 - 8,750,392 $ 5,795,256 $13,977,373 Totals (Memorandum Only) 1990 1989 930,047 4,542,982 28,138 6,189 6,150 36,964 271,242 4,458 328,867 59,260 85,179 13,691,339 9,574 4,864,608 362,373 8,750,392 $46,224,494 $ 8,364,002 39,126 78,243 759,999 498,743 171,904 1,173,164 5,806,126 46,525 5,339 5,373 6,173 304,349 2,920 199,374 50,823 83,221 13,324,077 10,199 3,681,069 343,399 9,573,931 $44,528,079 (continued) LIABILITIES AND EQUITY Liabilities: Outstanding checks in excess of cash balance Accounts payable Contracts payable Salaries payable Due to other governments Due to other funds Advance from other fund Unclaimed property Accrued interest payable Bonds payable current Deposits payable Deferred revenue Compensated absences payable Deferred compensation payable General obligation bonds payable Special assessment debt with government committment Revenue bonds payable CITY OF STILLWATER, MINNESOTA COMBINED BALANCE SHEET ALL FUND TYPES AND ACCOUNT GROUPS (CONTINUED) December 31, 1990 (With comparative totals for December 31, 1989) Governmental Fund Types Special Debt Capital General Revenue Service Projects $ - $ - $ - $ - 51,394 10,891 890 152,926 1,147 - - 290,613 16,912 4,997 18,020 7,707 - 75,913 795 - 328,867 155,096 60,839 -13- 2,670 7,070 See Notes to Financial Statements. 37,745 5,584,445 5,200 276,124 Total liabilities $ 304,203 $ 33,335 $ 5,623,080 $ 1,129,643 Equity: Investment in general fixed assets $ - $ - $ - $ Contributed capital, net Retained earnings: Reserved - - - - Unreserved - - - - Fund balance: Reserved 691,241 - 4,864,608 1,575,862 Unreserved: Designated 1,814,844 373,577 - Total equity $ 2,506,085 $ 373,577 $ 4,864,608 $ 1,575,862 Total liabilities and equity $ 2,810,288 $ 406,912 $10,487,688 $ 2,705,505 Account Groups Proprietary Fiduciary General General Fund Type Fund Type Fixed Long -Term Totals (Memorandum Only) Enterprise Agency Assets Debt 1990 1989 $ 17,414 $ 50,477 2,236 2,569 7,664 3,663 5,000 2,835 90,000 510 78,417 140,000 $ - $ 6,153,599 119,250 3,001,975 $ 9,274,824 $ - 365,863 $ 400,785 $ 365,863 $ - 362,373 - 5,500,000 - 8,115,000 - $ 5,795,256 $ - $ 5,795,256 $ -14- - $ 17,414 $ - 266,578 - 293,996 24,478 109,304 4,458 328,867 5,000 2,835 90,000 42,945 6,018,845 508,699 365,863 5,500,000 8,115,000 140,000 224,245 706,825 20,015 49,209 2,920 199,374 5,000 3,686 90,000 42,126 7,843,737 480,972 268,988 4,570,000 8,685,000 230,000 - $13,977,373 $21,834,282 $23,422,097 - $ 5,795,256 $ 5,427,300 - 6,153,599 6,139,555 - 119,250 119,250 - 3,001,975 2,778,253 - 7,131,711 3,883,933 - 2,188,421 2,757,691 - $24,390,212 $21,105,982 $ 9,675,609 $ 365,863 $ 5,795,256 $13,977,373 $46,224,494 $44,528,079 Revenues: Taxes Licenses and permits Fines and forfeits Charges for services Intergovernmental Special assessments Interest Donations Miscellaneous Total revenues Expenditures: Current: General government Public safety Public works Culture and recreation Capital outlay Other Construction and acquisition costs Debt service: Principal Interest Other Total expenditures Revenue over (under) expenditures Other financing sources (uses): Bond proceeds Operating transfers in Operating transfers out Revenues and other sources over expenditures and other uses Fund balance, January 1 Residual equity transfers Fund balance, December 31 CITY OF STILLWATER, MINNESOTA COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE ALL GOVERNMENTAL FUND TYPES Year Ended December 31, 1990 (With comparative totals for the year ended December 31, 1989) Special Revenue Total other financing sources (uses) SeelNotes to Financial Statements. - General $ 2,030,843 $ 128,786 129,387 268,247 1,686,881 134,394 81,043 $ 4,459,581 $ $ 658,586 $ 1,838,821 710,463 163,475 77,997 $ 3,449,342 $ $ 1,010,239 $ $ - $ 163,475 (759,929) $ (596,454) $ $ 413,785 $ 2,092,300 510 5,984 70,894 1,592 25,099 3,502 36,124 143,705 87 27,592 763,779 79,396 870,854 (727,149) 808,643 (54,690) 753,953 26,804 346,773 $ 2,506,085 $ 373,577 Debt Service $ 658,775 $ 828,003 149,870 2,045,456 340,835 $ 3,194,936 869 990,000 991,151 10,275 $ 1,992,295 $ 1,202,641 $ 6,838 22,651 $ 29,489 $ 1,232,130 3,681,069 (48,591) $ 4,864,608 Capital Projects 566 257,291 129,441 80,598 39,740 $ 1,335,639 - 1,363,570 Totals (Memorandum Only) 1990 1989 $ 3,518,131 128,786 129,387 274,797 2,164,936 2,176,489 580,926 3,502 156,907 $ 9,133,861 $ 658,586 1,838,908 738,055 763,779 242,871 78,866 1,363,570 - 990,000 991,151 10,275 $ 2,701,046 138,634 94,496 249,466 2,125,470 715,980 475,071 28,855 206,987 $ 6,736,005 $ 626,541 1,720,221 771,042 652,475 561,319 50,078 1,881,845 1,230,000 963,326 10,159 $ 1,363,570 $ 7,676,061 $ 8,467,006 (27,931) $ 1,457,800 $(1,731,001) $ 1,330,000 $ 1,336,838 $ 1,781,550 994,769 1,388,754 (296,279) (1,110,898) (1,415,387) $ 1,033,721 $ 1,220,709 $ 1,754,917 $ 1,005,790 $ 2,678,509 $ 23,916 521,482 6,641,624 6,617,708 48,591 $ 1,575,863 $ 9,320,133 $ 6,641,624 -16- CITY OF STILLWATER, MINNESOTA COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL GENERAL AND BUDGETED SPECIAL REVENUE FUNDS Year Ended December 31, 1990 Variance Favorable Budget Actual (Unfavorable) General Fund Revenues: Taxes $ 2,004,180 $ 2,030,843 $ 26,663 Licenses and permits 120,345 128,786 8,441 Fines and forfeits 96,100 129,387 33,287 Charges for services 237,588 268,247 30,659 Intergovernmental 1,644,273 1,686,881 42,608 Special assessments - - - Interest 40,000 134,394 94,394 Donations Miscellaneous 1,500 81,043 79,543 Total revenues $ 4,143,986 $ 4,459,581 $ 315,595 Expenditures: General government $ 706,013 $ 680,774 $ 25,239 Public safety 1,945,246 1,942,743 2,503 Public works 969,073 747,828 221,245 Culture and recreation - - - Other 37,610 77,997 (40,387) Total expenditures $ 3,657,942 $ 3,449,342 $ 208,600 Revenues over (under) expenditures $ 486,044 $ 1,010,239 $ 524,195 Other financing sources (uses): Operating transfer in Operating transfer out $ 249,708 $ 163,475 $ (86,233) (779,255) (759,929) 19,326 Total other financing sources (uses) $ (529,547)$ (596,454)$ (66,907) Revenues and other sources over (under) expenditures and other uses $ (43,503)$ 413,785 $ 457,288 Fund balance, January 1 2,092,300 Residual equity transfer Fund balance, December 31 $ 2,506,085 See Notes to Financial Statements. -17- 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 Budgeted Special Revenue Funds Variance Favorable Budget Actual (Unfavorable) 5,000 5,984 984 14,100 70,894 56,794 365 6,066 5,701 300 1,312 1,012 11,300 24,183 12,883 $ 31,065 $ 108,439 $ 77,374 35,100 26,801 8,299 834,732 834,193 539 $ 869,832 $ 860,994 $ 8,838 $ (838,767)$ (752,555)$ 86,212 $ 838,212 $ 808,643 $ (29,569) (6,000) (54,690) (48,690) $ 832,212 $ 753,953 $ (78,259) $ (6,555)$ 1,398 $ 7,953 308,391 $ 309,789 CITY OF STILLWATER, MINNESOTA COMBINED STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS ALL PROPRIETARY FUND TYPES Year Ended December 31, 1990 (With comparative totals for the year ended December 31, 1989) Operating revenues: Charges for services Other Total operating revenues Operating expenses: Personnel services Repairs and supplies Contractual services Utilities Truck expense Professional services Parking lot leases Administration charges Depreciation: On purchased assets On contributed assets Servicing customer installations Office supplies and postage Engineering services Miscellaneous Total operating expenses Operating income (loss) Nonoperating revenues (expenses): Donations Interest income Interest expense (Loss) on disposal of fixed assets Property taxes and special assessments Other Nonoperating revenues ,(expenses), net Net income Other increases (decreases): Transfer in: Capital Projects Fund General Fund Special Revenue Fund Transfer out: Debt Service Fund Credit arising from transfer of depreciation to contributions from other funds Total other increases (decreases) Net increase in retained earnings Retained earnings, January '1 Retained earnings, December 31 -19- $ 2,588,397 53,338 $ 2,641,735 $ 423,956 265,357 1,692,214 113,293 10,957 4,735 5,860 37,936 76,455 71,208 170,781 164,728 25,656 32,732 12,309 13,745 11,285 1,304 9,778 9,916 $ 2 $ 2,374,146 $ (218,837) $ 117,695 $ - $ 10,000 87,405 85,535 (15,474) (19,212) (5,070) (9,596) 68,937 - 19,851 18,163 155,649 $ 84,890 (63,188) $ 202,585 See ,Notes to Financial Statements. 1990 71,590 $ 12,500 54,690 170,781 $ 286,910 $ 223,722 2,897,503 $ 3,121,225 1989 $ 2,459,706 32,135 $ 2,491,841 $ 386,782 101,914 1,433,835 110,707 4,113 3,000 3,685 36,477 30,179 12,040 7,065 (22,651) (22,651) 164,728 $ 191,361 $ 393,946 2,503,557 $ 2,897,503 CASH FLOWS FROM OPERATING ACTIVITIES Operating (loss) Adjustments to reconcile operating (loss) to net cash provided by operating activities: Depreciation Change in assets and liabilities: (Increase) in accounts and notes receivable (Increase) in inventory (Increase) in accounts payable and accrued expenses Increase in compensated absences Other prepaids, deferrals and accruals, net Net cash (used in) operating activities CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES Cash transfer to other funds Cash transfer from other funds Increase in outstanding checks in excess of bank balance Cash receipts from miscellaneous income Net cash provided by noncapital financing activities CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Cash transfer from other funds Acquisition and construction of capital assets Proceeds from taxes, assessments, connections Principal paid on general obligation bonds Interest and fees paid on general obligation bonds Net decrease in escrow deposit Proceeds from sale of capital assets Capital contributed by property owners Net cash (used for) capital and related financing activities CASH FLOWS FROM INVESTING ACTIVITIES Proceeds from sale and maturities of investments Purchase of investments Interest received on investments Net cash provided by (used in) investing activities Net Increase (decrease) in cash fi cash equivalents Cash and cash equivalents: Beginning Ending Cash and cash equivalents Investments CITY OF STILLWATER, MINNESOTA COMBINED STATEMENT OF CASH FLOWS ALL PROPRIETARY FUND TYPES Year Ended December 31, 1990 -20- 1990 $ (218,837) 247,236 ( 61,0 4 8) (9,217) 15,412 2,717 (74,704) $ (98,441) $ (22,651) 67,190 14,081 19,671 $ 78,291 $ 71,590 (257,876) 59,159 (90,000) (16,510) 1,381 6,219 184,870 $ (41,167) $ 905,211 (828,050) 83,894 $ 161,055 $ 99,738 90,738 $ 190,476 $ 190,476 618,944 Cash and investments $ 809,420 CITY OF STILLWATER, MINNESOTA NOTES TO FINANCIAL STATEMENTS Note 1. Summary of Significant Accounting Policies The City of Stillwater operates under the "Home Rule Charter" form of government according to applicable State of Minnesota Statutes. The Mayor is the chief executive officer and together with the City Council comprises the governing body of the City, which is responsible for directing the affairs of the City. The Charter prescribes City Council appointed commissioners in the form of the Water Board and Library Board. The City provides the following services: public safety, high- ways and streets, sanitation, library, parks, public improvements, planning and zoning and general administration. A. Reporting Entity The City's financial statements include all funds, account groups, departments, agencies, boards, commissions and other organizations over which City officials exercise oversight responsibility. Oversight responsibility includes such aspects as appointment of governing body members, budget review, approval of property tax levies, outstanding debt secured by the City's full faith and cre- dit or revenues and responsibility for funding deficits. As a result of applying the entity definition criteria of the Governmental Accounting Standards Board, certain organizations have been included or excluded from the City's financial statements as follows: INCLUDED: Board of Water Commissioners The Board of Water Commissioners was created to control and manage the system of water works owned and operated by the City of Stillwater. Powers and duties of the Board are prescribed in Article XIII of the City Charter, as amended. The City Council appoints members of the commission and maintains annual budgetary controls over commission delegated financial activity. Library Board The Library Board exists under the authority of Chapter 46, Laws of Minnesota, 1945, and all ordinance and resolutions of the City enacted to carry the law into effect. The City Council appoints members of the commission and maintains annual budgetary controls over commission delegated financial activity. -21- NOTES TO FINANCIAL STATEMENTS (CONTINUED) EXCLUDED: Stillwater Fire Relief Association This is a nonprofit association organized by its members to provide pension and other benefits to such members in accordance with Minnesota Statutes. Its board of directors is appointed by the mem- bership of the organization. All funding is conducted in accordance with Minnesota Statutes, whereby state aid flows to the association and the association pays benefits directly to its members. The asso- ciation is able to fund its programs independently of the City and therefore is excluded from the reporting entity. Metropolitan Waste Control Commission The Commission was created by the state to control and manage the disposition and treatment of sewer waste for the seven - county metropolitan area. The Commission charges user fees to the City based on sewage flowing to the treatment plants. The Board of Commissioners are appointed by the Minnesota State Legislature. The Commission controls its own finances and prepares its own financial reports Independent School District No. 834 (Stillwater Schools). The district, like all school districts in Minnesota, is completely independent of any other governmental entity. It has its own elected Board of Education, levies its own taxes and prepares its own financial reports. B. Fund Accounting The accounts of the City are organized on the basis of funds and account groups, each of which is considered a separate accounting entity. The operations of each fund are accounted for with a separate set of self - balancing accounts that comprise its assets, liabilities, fund equity, revenues and expenditures or expenses, as appropriate. Government resources are allocated to and accounted for in individual funds based upon the purposes for which they are to be spent and the means by which spending activities are controlled. The various funds are grouped, in the financial statements in this report, into six generic fund types and three broad fund categories as follows: Governmental Funds General Fund - The General Fund is the primary operating fund of the City. It is used to account for all financial resources except those required to be accounted for in another fund. Special Revenue Funds - Special Revenue Funds are used to account for the proceeds of certain specific revenue sources which require separate accounting because of legal, regulatory or administrative action. -22- NOTES TO FINANCIAL STATEMENTS (CONTINUED) Debt Service Funds - Debt Service Funds are used to account for the accumulation of resources for, and the payment of, general long -term debt principal, interest and related costs. Capital Projects Funds - Capital Projects Funds are used to account for financial resources to be used for the acquisition or construction of major capital facilities other than those financed by proprietary funds. Proprietary Funds Enterprise Funds - Enterprise Funds are used to account for operations that are financed and operated in a manner similar to private business enterprises - where the intent is that the costs (expenses, including depreciation) of providing goods or services to the general public on a continuing basis be financed or recovered primarily through user charges; or where the governing body has decided that periodic deter- mination of revenues earned, expenses incurred, and /or net income is appropriate for capital maintenance, public policy, management control, accountability or other purposes. Fiduciary Funds Agency Funds - Agency Funds are used to account for assets held by the City as an agent for individuals, private organizations, other governments, and /or other funds. The governmental fund types previously discussed are designed to account for the financial flow of a particular fund; therefore, generally include only current assets and current liabilities on their balance sheets. Their unreserved fund balance is considered a measure of available spendable resources. The City also maintains two account groups for noncurrent assets and liabilities. These account groups are concerned only with the measurement of financial position. They are as follows: General Fixed Assets Account Group - This separate group of accounts contains the fixed assets used in the governmental fund type operations. They are assets of the City as a whole and not of individual funds. All fixed assets are valued at historical cost or estimated historical cost if actual historical cost was not available. Donated fixed, assets are valued at their estimated fair market value on the date donated. Public domain ( "infrastructure ") general fixed', assets consisting of roads, bridges, curbs and gutters, streets and sidewalk, drainage systems and lighting systems are excluded from general fixed assets as such items are immoveable and of value only to the City. No depreciation has been provided on general fixed assets. -23- C. Basis of Accounting NOTES TO FINANCIAL STATEMENTS (CONTINUED) General Long -term Debt Account Group - This separate group of accounts contains the long -term liabilities of the City expected to be financed from governmental funds. They are liabilities of the City as a whole and not of individual funds. The exception to this rule is for proprietary fund type long -term debt which is accounted for in that fund type since it is expected to be financed from revenues of the proprietary funds. The accounting and reporting treatment applied to a fund is determined by its measurement focus. All governmental funds are accounted for using a current financial resources measurement focus. Operating statements of these funds present increases (i.e., revenues and other financing sources) and decreases (i.e., expenditures and other financing uses) in net current assets. All Proprietary funds are accounted for on a flow of economic resources measurement focus. With this measurement focus, all assets and all liabilities associated with the operation of these funds are included on the balance sheet. Fund equity (i.e., net total assets) is segregated into contributed capital and retained earnings components. Proprietary fund -type operating statements present increases (e.g., revenues) and decreases (e.g., expenses) in net total assets. Basis of accounting refers to when revenues and expenditures or expenses and the related assets and liabilities are recognized in the accounts and reported in the financial statements. Basis of accounting relates to the timing of the measurements made, regardless of the measurement focus applied. The modified accrual basis of accounting is used by all governmental fund types and agency funds. Under the modified accrual basis of accounting, revenues are recognized when susceptible to accrual (i.e., when they become both measurable and available). "Measurable" means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. Major revenues susceptable to accrual are intergovernmental revenues, interest revenues, and charges for services. Major revenues that are determined not to be susceptible to accrual because they are either not available soon enough to pay liabilities of the current period or are not objectively measurable include property taxes and special assessments not collected by the county before year end and licenses. Expenditures are recognized in the accounting period in which a fund liability is incurred if measurable except for unmatured principal and interest on general long -term debt which is recognized when due and except for compensated absences liabilities which are not payable within 60 days. The accrual basis of accounting is utilized in proprietary fund types. Under this method, revenues are recorded when earned and expenses are recorded at the time liabilities are incurred, if measurable or estimatable. -24- D. Budgets NOTES TO FINANCIAL STATEMENTS (CONTINUED) The City reports deferred revenue on its combined balance sheet. Deferred revenues arise when a potential revenue does not meet both the "measurable" and "available" criteria for recognition in the current period. Deferred revenues also arise when resources are received by the City before it has a legal claim to them, as when grant monies are received prior to the incurrence of qualifying expenditures. In subsequent periods, when both revenue recognition criteria are met, or when the City has a legal claim to the resources, the liability for deferred revenue is removed from the combined balance sheet and revenue is recognized. Budgets for the General and Special Revenue funds are adopted on a basis consistent with generally accepted accounting principles. Budgeted amounts are as originally adopted, or as amended by the City Council. Budgeted expenditure appropriations lapse at year end. Minnesota Statutes provide no legally required level of budgetary control for cities. The City of Stillwater maintains budgetary control at the fund level., The City did not adopt budgets for the Friends of Fire Department, Friends of Police Department, Infrastructure Reserve, Park Dedication, DARE, or Dutch Elnj Special Revenue Funds. The Friends of Fire Depart- ment and Friends of Police Department are financed through donations from outside sources and restricted to expenditures not included in the general operating budget of each department. As funds become available and as needs arise, management makes recommendations for expenditures to the City Council. The City Council must approve all expenditures, which are limited to available cash on hand. The Infrastructure Reserve, Park Dedication and Dutch Elm Funds did not have any planned expenditures for 1990. Subsequent to the adoption of the 1990 Budget, the City Council approved expenditures in accordance with fund purposes. The DARE fund was created during 1990 and did not have a budget adopted or any planned expenditures. The City follows these procedures in establishing the budgetary data reflected in the financial statements: 1. The City Coordinator submits to the City Council a proposed operating budget for the fiscal year commencing the following January 1. The operating budget includes proposed expenditures and the means of financing them. -25- NOTES TO FINANCIAL STATEMENTS (CONTINUED) 2. Public hearings are conducted to obtain taxpayer comments. 3. The budget is legally enacted through passage of a resolution. 4. The City Council may authorize transfer of budgeted amounts between departments and funds. 5. Formal budgetary integration is employed as a management control device during the year for the General Fund and certain Special Revenue Funds. Formal budgetary integration is not employed for Debt Service Funds because effective budgetary control is alter- natively achieved through general obligation bond indenture provisions. E. Cash and Temporary Investments Cash balances from all funds are pooled and invested to the extent available in authorized investments. Earnings from investments are allocated to individual funds on the basis of the fund's available cash balance. Investments are stated at cost, except for investments in the deferred compensation agency fund which are reported at market value. For purposes of reporting cash flows, the City considers all Treasury bills, commercial paper and money market funds, including those that are classified as restricted assets, with a maturity of three months or less, to be cash equivalents. The payment of City bonds is made through various agents (banking institutions). Cash is paid to the paying agents who in turn pay principal and interest to the various bondholders. Amounts of cash on hand with the paying agent as a result of unclaimed payments is not included in these financial statements. F. Short -term Interfund Receivables /Payables During the course of operations, transactions occur between individual funds for goods provided or services rendered. These receivables and payables are classified as "due from other funds" or "due to other funds" on the balance sheet. G. Advances to Other Funds Noncurrent portions of long -term interfund loan receivables are reported as advances and are offset equally by a fund balance reserve account which indicates that they do not constitute expendable available financial resources and therefore are not available for appropriation. H. Inventories Inventories are valued at cost, which approximates market, using the first -in /first -out (FIFO) method. The costs of materials and supplies are generally recorded in governmental funds as expenditures when consumed. -26- I. Prepaid Items J. Fixed Assets NOTES TO FINANCIAL STATEMENTS (CONTINUED) Payments made to vendors for services that will benefit periods beyond December 31, 1990, are recorded as prepaid items. General fixed assets are not capitalized in the funds used to acquire or construct them. Instead, capital acquisition and construction are reflected as expenditures in governmental funds, and the related assets are reported in the general fixed assets account group. All purchased fixed assets are valued at cost where historical records are available and at an estimated historical cost where no historical records exist. Donated fixed assets are valued at their estimated fair market value on the date received. Public domain ( "infrastructure ") general fixed assets consisting of roads, bridges, curbs and gutters, streets and sidewalks, drainage routes and lighting systems are not capitalized, as these assets are immoveable and of value only to the government. Assets in the general fixed asset account group are not depreciated. Depreciation of all exhaustible fixed assets used by proprietary funds is charged as an expense against their operations and accumulated depreciation is reported on proprietary fund balance sheets. Depreciation has been provided over the estimated useful lives using the straight line method. The estimated useful lives are as follows: Years Parking Lots 15 Buildings and improvements 20 -45 Distribution and collection system 50 Furniture and fixtures 5 -10 Machinery and equipment 5 -20 The costs of normal maintenance and repairs in the proprietary fund types that do not add to the value of the asset or materially extend asset lives are not capitalized. Improvements are capitalized and depreciated over', the remaining useful lives of the related fixed assets. Depreciation recognized on proprietary fund type property and equip- ment contributed by property owners to the City is closed to the appropriate contributed capital account. K. Compensated Absences Sick leave and vacation benefits accrue to employees based upon their term of employment and in accordance with the individual labor agreements. -27- Vested or accumulated vacation or sick leave that is expected to be liquidated with expendable available financial resources is reported as an expenditure and a fund liability. Amounts of vested or accumulated vacation leave that are not expected to be liquidated with expendable available financial resources are reported in the general long -term debt account group. No expenditure is reported for these amounts. Vested or accumulated vacation leave of proprietary funds is recorded as an expense and liability of those funds as the benefits accrue to employees. In accordance with the provisions of Statement of Financial Accounting Standards No. 43, Accounting for Compensated Absences, no liability is recorded for nonvesting accumulating rights to receive sick pay benefits. L. Long -term Obligations Long -term debt is recognized as a liability of a governmental fund when due, or when resources have been accumulated in the debt service fund for payment early in the following year. For other long -term obligations, only that portion expected to be financed from expendable available financial resources is reported as a fund liability of a governmental fund. Long -term liabilities expected to be financed from proprietary fund operations are accounted for in those funds. M. Fund Equity NOTES TO FINANCIAL STATEMENTS (CONTINUED) Contributed capital is recorded in proprietary funds that have received capital grants or contributions from developers, customers or other funds. Reserves represent those portions of fund equity not appropriable for expenditure or legally segregated for a specific future use. Designated fund balances represent tentative plans for future use of financial resources. N. Interfund Transactions Quasi - external transactions are accounted for as revenues, expenditures or expenses. Transactions that constitute reimbursements to a fund for expenditures /expenses initially made from it that are properly applicable to another fund, are recorded as expenditures /expenses in the reimbursing fund and as reductions of expenditures /expenses in the fund that is reimbursed. All other interfund transactions, except quasi - external transactions and reimbursements, are reported as transfers. Nonrecurring or nonroutine, permanent transfers of equity are reported as residual equity transfers. All other interfund transfers are reported as operating transfers. -28- P. Comparative Data NOTES TO FINANCIAL STATEMENTS (CONTINUED) 0. Memorandum Only - Total Columns Total columns on the general purpose financial statements are captioned "memorandum only" to indicate that they are presented only to facilitate financial analysis. Data in these columns do not present financial position, results of operations or changes in financial position in conformity with generally accepted accounting principles. Such data is not comparable to a consolidation, since interfund eliminations have not been made in the aggregation of this 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 their inclusion would make certain statements unduly complex and difficult to understand. Note 2. Legal Compliance'- Tax Levy On or before June 15 of each year, all departments of the City submit requests for appropriations to the City's Coordinator so that a budget may be prepared and a tax levy adopted. The budget is pre- pared by fund, function and activity and includes information on the past year, current year estimates and requested appropriations for the next fiscal ,year. Revenue estimates are prepared by the Finance Department, including the estimated tax levy needed to support City expenditures. The amount of the tax levy permitted is governed by Minnesota Statutes and provides for severe penalties (in the form of loss in state aid) if levy limits are not adhered to. Certain exceptions to the levy limits are allowed by law. A major exclusion from the levy limits (which the City uses) is the tax levy allowed for debt service ob- ligations. The proposed budget and tax levy is presented to the City Council for review by August 1. The City Council may add to, subtract from or change the proposed budget or tax levy. By August 10, a "proposed tax levy" is certified to the State of Minnesota and Washington County. State Statutes require the counties to send out preliminary tax notices to all property owners showing the prior year's tax levy and proposed tax levy, including dollars and percentage increase or decrease between years for all taxing jurisdictions. Cities are also required by law to publish in a local newspaper the proposed tax levy, dollar and percentage increase from the previous year. After November 25, and, before December 25, Statutes require the City to hold a public hearing and present the budget and tax levy to the citizens. The City Council must adopt the budget and tax levy after closing the public hearing. -29- The adopted tax levy must be certified to Washington County by December 28 or the previous year's tax levy will be used by default. Note 3. Deposits and Investments Cash surpluses are pooled from all funds and invested to the extent available in authorized investments. Investment earnings are allocated to individual funds on the basis of average cash balances. Investments are stated at cost, which approximates market value, and are not identified with specific funds. Deposits NOTES TO FINANCIAL STATEMENTS (CONTINUED) In accordance with Minnesota Statutes, the City maintains deposits at those depository banks authorized by the City Council. Minnesota Statutes require that all city deposits be protected by insurance, surety bond or collateral. The market value of collateral pledged must equal or exceed 110 percent of the deposits not covered by insurance or bonds. Minnesota Statutes require that securities pledged as collateral be held in safekeeping by the City treasurer or in a financial institution other than that furnishing the collateral. At year end, the carrying amount of the City's deposits was $4,669,987, and the bank balance was $4,802,984. The City's deposits at year end were entirely covered by federal depository insurance or by pledged collateral held by the City's custodial bank in the City's name. Investments The City also invests idle funds as authorized by Minnesota Statutes, as follows: (a) Obligations of the United States Treasury or its agents or instrumentalities. (b) Repurchase or reverse repurchase agreements with banks that are members of the Federal Reserve System with capitalization exceeding $10,000,000, a primary reporting dealer in U.S. government securities to the Federal Reserve Bank of New York, or certain Minnesota securities broker - dealers. (c) Bankers acceptance of United States Banks eligible for purchase by the Federal Reserve System. (d) Commercial paper issued by United States corporations of the highest quality, and maturing in 270 days or less. -30- Investment Type Note 4. Receivables (e) Shares of investment companies registered under the Federal Investment Company Act of 1940 and whose only investments are in securities described in (a) above. The City's investments are categorized below to give an indication of the level of risk assumed by the entity 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 the City's name. Category 2 includes uninsured and unregistered investments for which the securities are held by the counterparty 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 agency but not in the City's name. U.S. Government Securities (1) $ 2,987,245 $ 3,020,762 Bankers Acceptances and Commercial Paper (3) 1,474,335 1,486,508 $ 4,461,580 $ 4,507,270 Mutual Fund investing in qualified securities 458,358 458,358 Property Taxes NOTES TO FINANCIAL STATEMENTS (CONTINUED) The City Council annually adopts a tax levy by December 28 and cert- ifies it to Washington County for collection. The actual tax levy date is considered to be January 1. The County is responsible for collecting all property taxes for the City. These taxes attach an enforceable lien to taxable property on January 1. Real property taxes may be paid by taxpayers in two -equal installments, May 15 and October 15. The taxes are collected by the County Treasurer and tax settlements are made to the City three times a year in July, December and the following January. Taxes payable on homestead property, as defined by State Statutes, are partially reduced by a homestead credit. These credits are paid to the City by the State of Minnesota in lieu of taxes levied against homestead property. The State remits this credit in two equal installments in July and December each year. -31- Carrying Market Category Amount Value $ 4,919,938 $ 4,965,628 Land Buildings Furniture and Equipment Machinery and Automotive NOTES TO FINANCIAL STATEMENTS (CONTINUED) Taxes which remain unpaid at December 31, are classified as delinquent taxes receivable, and fully offset by deferred revenue because they are not available to finance current expenditures. Special Assessments Special assessments are levied against the benefitted property for the assessable costs of special assessment improvement projects in accordance with State Statutes. The City usually adopts the assessment rolls when the individual projects are complete or substantially complete. Collection of annual installments (including interest) is handled by the County in the same manner as property taxes. Property owners are allowed to prepay total future installments without interest or prepayment penalties. The principal and interest on special assessments is recognized as revenue in the year of collection. The deferred portion of assessments and delinquent assessments are generally measurable but not available to finance the expenditures of the current year. Accordingly, these are not recognized as revenue until they are collected by the County. Delinquent and deferred assessments are reflected in the balance sheets at December 31 and offset by deferred revenue. Accounts Receivable Accounts receivable include amounts billed for services provided before year end. Long -term Receivable - Metropolitan Waste Control Commission (MWCC) The long -term receivable of the Sewer Fund of $227,657 from MWCC represents the City's share of equity in the City's sewer system which was acquired by the Commission. The receivable will be paid to the City by issuing credits annually through the year 2000 against future disposal charges from the commission. Note 5. Fixed Assets Changes in the General Fixed Assets Account Group during 1990 were as follows: Balance January 1 $ 1,030,595 $ 1,749,491 1,102,506 1,544,708 Additions Deletions 245,692 $ (76,500)$ - $ 1,199,787 30,477 - - 1,779,968 78,273 (14,077) 126,639 (21,674) Total $ 5,427,300 $ 481,081 $ (112,251)$ -32- Transfers to Enterprise Balance Fund December 31 1,166,702 (874) 1,648,799 (874)$ 5,795,256 Note 6. Construction Commitments Type Improvement Improvement Improvement Improvement Improvement Improvement Improvement Improvement Improvement Improvement General Government General Government General Government General Government General Government General Government Tax Increment Tax Increment Tax Increment Sewer Revenue Water Revenue NOTES TO FINANCIAL STATEMENTS (CONTINUED) During 1990, the City of Stillwater began a special assessment pro- ject for the improvement of streets, sidewalks and water and sewer mains that was not completed as of December 31, 1990. This project was authorized by the City Council pursuant to State Statutes. The City expects the completion of this project by June 30, 1991. The committed contract balance on December 31, 1990 was $293,465. Financing for this project will be obtained in 1991 with the selling of general obligation improvement bonds. Note 7. Long -term Debt The City issues general obligation bonds for general government, proprietary, improvements and tax increment activities. General obligation bonds are direct obligations of the City and pledge the full faith, credit and taxing power of the City. The proprietary bonds outstanding are reported in the proprietary funds because they are expected to be repaid from proprietary revenues. The general government bonds outstanding are to be repaid from general tax levies. The improvement debt is expected to be repaid primarily from special assessments to benefitted properties. The tax increment bonds outstanding are to be paid from pledged tax increment revenues. The City issued $1,350,000 of general obligation capital outlay bonds in 1990 to provide funds for capital asset acquisition. General Obligation long -term debt at December 31, 1990 is comprised of the following issues: Interest Rates 5.50 -6.00 6.40 -6.50 6.00 -6.50 9.75 -11.00 6.75 -8.40 7.40 -10.00 9.10 5.00 -6.20 5.50 -7.90 5.90 -6.375 3.67 9.10 -9.25 5.00 -5.90 4.40 -6.50 6.00 -7.00 6.00 -6.50 6.00 -6.90 5.50 -7.80 8.50 -8.75 5.00 -5.10 5.00 -5.25 Final Date Maturity Issued Date -33- 1979 2000 1980 1992 1980 1992 1982 1993 1983 1995 1984 2005 1984 1995 1986 1997 1987 2003 1989 2000 1966 1996 1984 1996 1986 1991 1986 2002 1988 1999 1990 1999 1986 2004 1987 2005 1989 2001 1973 1993 1977 1993 Outstanding Original Amount Issue Amt 12/31/90 $1,050,000 $ 550,000 885,000 390,000 285,000 40,000 400,000 120,000 745,000 360,000 4,850,000 4,390,000 600,000 305,000 320,000 225,000 840,000 640,000 1,095,000 1,095,000 500,000 125,000 675,000 475,000 380,000 175,000 1,000,000 900,000 625,000 625,000 1,350,000 1,350,000 600,000 550,000 600,000 600,000 700,000 700,000 615,000 100,000 500,000 130,000 During the year ended December 31, 1990, the following changes occurred in liabilities reported in the general long -term debt account group: Improvement General Government Tax Increment Compensated Absences Year 1991 1992 1993 1994 1995 Thereafter NOTES TO FINANCIAL STATEMENTS (CONTINUED) Balance January 1, Additions Debt Service Funds: Reserved for debt service $ 8,685,000 $ - $ 2,695,000 1,350,000 1,875,000 343,399 18,974 $13,598,399 $ 1,368,974 $ (990,000)$13,977,373 Annual debt service requirements to maturity, including interest of $7,333,523 are as follows: General Tax Government Improvement Increment $ 513,616 $ 1,327,311 $ 186,775 $ 414,570 1,534,061 236,594 479,145 1,156,398 229,075 503,690 1,065,486 226,260 500,913 1,030,753 227,755 2,559,475 6,914,884 1,841,762 $4,971,409 $13,028,893 $2,948,221 $ Note 8. Reservations and Designations of Fund Equity At December 31, 1990, the City had reserved or designated portions of its fund equity through legal restrictions, City Council action, policy and /or intent. The following is a summary of the reservations and designations: General Fund: Reserved for advances Reserved for compensated absences Designated for working capital Designated for insurance Special Revenue Funds: Designated for working capital Capital Projects Funds: Reserved for construction and acquisition Enterprise Funds: Reserved for system improvements -34- Balance Reductions December 31, (570,000)$ 8,115,000 (395,000) 3,650,000 (25,000) 1,850,000 362,373 Revenue Total 100,865 $ 2,128,567 101,094 2,286,319 46,181 1,910,799 - 1,795,436 - 1,759,421 - 11,316,121 248,140 $21,196,663 $ 328,868 362,373 1,797,081 17,763 373,577 4,864,608 1,575,862 119,250 Note 9. Enterprise Fund Segment Information The City maintains five enterprise funds. These funds are set up to operate primarily from proceeds of user charges. Segment information for the year ended December 31, 1990, is as follows: Depreciation 91,946 Operating income (loss) 16,628 Nonoperating revenues (expenses), net 101,116 Fixed asset Other increases (decreases) 109,832 Net increase (decrease) in retained earnings 227,576 Fixed assets, net 3,642,050 Fixed asset addi- tions 159,155 Total assets 4,591,529 Bonds payable 100,000 Contributed capital, net 3,133,324 Total equity 4,457,294 Solid Sanitary Waste Sewer Collection Fund Fund Results of Operation: Operating revenue $1,191,974 $ 756,526 $ Operating expenses before deprec- iation 1,083,400 821,732 Note 10. Contributed Capital NOTES TO FINANCIAL STATEMENTS (CONTINUED) (65,206) 1,984 -35- Parking System Fund 11,638 Lily Lake Park Fund deletions - - 19,477 275 Working capital 637,587 703 121,797 107,296 Net income (loss) 117,744 (65,206) 6,824 (48,899) 1,324 (1,044) 77,752 385,883 8,054 206,932 1,509 703 199,039 18,352 508,893 297,112 493,179 Water Works Fund Total 48,640 $ 147,891 $ 496,704 $2,641,735 48,339 167,919 491,946 2,613,336 5,115 38,038 112,137 247,236 (4,814) (58,066) (107,379) (218,837) 9,167 33,728 155,649 16,628 36,380 441,011 1,308,394 (73,651) (63,188) 67,190 (5,500) 47,855 67,533 286,910 (6,118) 223,722 3,790,398 7,896,083 80,369 4,360,201 130,000 2,721,654 4,124,609 During the year, additions to contributed capital for the Sanitary Sewer Fund (in the form of fixed assets) amounted to $159,155, and additions to the Waterworks Fund (in the form of fixed assets and cash) amounted to $25,715. 257,876 9,675,609 230,000 6,153,599 9,274,824 NOTES TO FINANCIAL STATEMENTS (CONTINUED) SCHEDULE OF CHANGES IN CONTRIBUTED CAPITAL ENTERPRISE FUNDS Sewer Funds Balance January 1, net $ 3,047,913 $ Additions (Deletions) 159,155 Transfer to Retained Earnings for Depreciation (73,745) Parking System Lily Lake Fund Fund Waterworks Fund 1,509 $ 326,661 $ 2,763,472 - (46) 25,715 - (29,503) (67,533) Balance December 31, net $ 3,133,324 $ 1,509 $ 297,112 $ 2,721,654 Note 11. Legal Compliance Equity Deficits On December 31, 1990, the following funds had deficit fund balances: Capital Projects Fund 1989A Construction Permanent Improvement Capital Projects fund deficits for 1989A construction resulted from additional project costs over the amount bonded. The deficit will be eliminated with the collection of special assessments levied for the projects. Permanent Improvement fund deficit is due to funds spent for future projects which will be reimbursed when the projects are formalized. Note 12. Special Revenue Funds The City does not budget all Special Revenue Funds, and accordingly, the applicable columns of the Combined Statement of Revenues, Expend- itures, and Change in Fund Balances - Budget and Actual, exclude amounts relating to the unbudgeted funds. A reconciliation of actual revenues and expenditures for budgeted and unbudgeted special revenue funds follows: Revenues Taxes Charge for Services Intergovernmental Special Assessments Interest Donations Park Dedication Fees Miscellaneous Expenditures Public Safety Public Works Culture & Recreation -36- Budgeted Unbudgeted Total $ - $ 5,984 70,894 6,066 1,312 24,183 $ 108,439 $ $ - $ 26,801 834,193 $ 860,994 $ $ (85,801) (113,500) 510 $ 510 - 5,984 - 70,894 1,592 1,592 19,033 25,099 2,190 3,502 11,941 11,941 - 24,183 35,266 $ 143,705 3,349 $ 3,349 791 27,592 5,720 839,913 9,860 $ 870,854 NOTES TO FINANCIAL STATEMENTS (CONTINUED) Expenditures in Excess of Budget The following funds had an excess of actual expenditures over budget for the year ended December 31, 1990: Special Revenue Funds Note 13. Developers Agreement and Forbearance Agreement Budget Actual Variance Parks $ 321,757 $ 352,021 $ (30,264) Washington County Recycling 14,100 25,261 (11,161) Dutch Elm - 791 (791) Library Trust 665 2,057 (1,392) In 1981, the City entered into a developers agreement related to the Oak Glen Planned Unit Development. The agreement required the City to construct all streets and utilities necessary to serve this Development. The city issued Temporary Improvement Bonds in the amount of $6,100,000 in 1981. The City refinanced the Temporary Bonds with the $4,850,000 General Obligation Improvement Bonds of 1984- Series A. The improvements have been assessed to the bene- fiting property' owners. The developers agreement required the developer to deposit one years special assessments payment with the City. At December 31, 1990, the developer was not in compliance with this requirement. At December 31, 1990, the developer was also delinquent on special assessment and real estate tax payments related to the Oak Glen Planned Unit Development property. At December 31, 1990 the Improvement Bonds of 1984 -A Debt Service Fund has $1,548,779 of cash and investments available to service the related debt including $264,243 in special assessments collected and due from the county. A five -year schedule of debt service payments on the $4,850,000 Improvement Bonds of 1984 -A is as follows: Year Payable Principal Interest Total 1991 $ 145,000 414,095 559,095 1992 160,000 401,278 561,278 1993 175,000 386,865 561,865 1994 190,000 370,798 560,798 1995 205,000 353,015 558,015 During the year ended December 31, 1990, the City entered into a forbearance agreement with the developer of the Oak Glen Planned Unit Development and the trustee for the related $3,500,000 Commer- cial Development Refunding Bonds, Series 1987. This agreement re- quired the City to borrow $268,845 to the Trust for payment of delinquent real estate taxes due on the Oak Glen Golf Course. -37- Note 14. Contingencies Management and legal counsel have indicated that existing and pending lawsuits, claims and other actions in which the City is a defendant are either covered by insurance, of an immaterial amount, or, remotely recoverable by plaintiffs. The City also has an unrecorded contingent liability for the medical insurance for retired employees as disclosed in Note 19. Note 15. Interfund Assets /Liabilties Receivable Fund Note 16. Interfund Transactions General Fund Special Revenue Funds Capital Project Funds Enterprise Funds NOTES TO FINANCIAL STATEMENTS (CONTINUED) The agreement also requires the City to attempt the issuance of a new series of commercial development refunding bonds, the proceeds of which are intended to pay off the existing commercial development refunding bonds and if sufficient funds remain, to repay the $268,845 loan made by the City to the Trust. As part of this agree- ment, the Trustee of the commercial development refunding bonds agrees to forbear from beginning foreclosure proceedings on the commercial development refunding bonds until at least July 1, 1993, at which date the related bonds are callable, and also to release certain lots for sale to third parties. These third party lot sales provided special assessment proceeds the City applied toward payment on the $4,850,000 General Obligation Improvement Bonds of 1984- Series A. General Fund 1984A Construction $ 234,069 General Fund Permanent Improvements 94,798 Waterworks Fund Sewer Fund 3,663 Waterworks Fund General Fund 795 Total $ 333,325 Funds are transferred from one fund to support expenditures of other funds in accordance with the authority established for the individual fund. Transfers within fund types have been eliminated. Transfers between fund types during the year ended December 31, 1990 were: Transfers -In Total Special Debt Transfers- General Revenues Service Enterprise Out Fund Funds Funds Funds $ 759,929 $ 54,690 296,279 22,651 163,475 61,214 - 22,651 $1,133,549 $ 163,475 $ 808,643 $ 22,651 $ 138,780 -38- Payable Fund Amount - $ 747,429 $ - $ 12,500 - 54,690 - 71,590 NOTES TO FINANCIAL STATEMENTS (CONTINUED) Note 17. Tax Increment Financing Authority The City is the administering authority for the following tax increment finance districts: Development District #1, Tax Increment District #1 Downtown and Industrial Park scattered sites. The District is a redevelopment district authorized by Minnesota Statutes Chapter 472 -A. It was established in 1985 and will have a 25 year duration upon receipt of the first tax increment. Additional information is as follows: Original tax capacity Current tax capacity Captured tax capacity retained by authority Shared with other taxing districts Total bonds issued and outstanding at December 31, 1990 700,000 Development District #1, Tax Increment District #2, Nelle Project The District is a redevelopment district authorized by Minnesota Statutes Chapter 472 -A. It was established in 1985 and will have a 25 year duration upon receipt of the first tax increment. Additional information is as follows: Original tax capacity Current tax capacity Captured tax capacity retained by authority Total bonds issued and outstanding at December 31, 1990 $ $ 789,809 1,674,270 884,461 627,634 $ 122,709 168,330 45,621 Development District #1, Tax Increment District #3, Arkell Project. The District is a housing district authorized by Minnesota Statutes Chapter 472 -A. It was established in 1985 and will have a 25 year duration upon receipt of the first tax increment. Additional information is as follows: Original tax capacity $ 1,200 Current tax capacity 154,742 Captured tax capacity 153,542 Total bonds issued and outstanding at December 31, 1990 $ 1,150,000 -39- NOTES TO FINANCIAL STATEMENTS (CONTINUED) Development District #1, Tax Increment District #4, Woodland Lakes Project. The District is a redevelopment district authorized by Minnesota Statutes Chapter 472 -A. It was established in 1985 and will have a 25 year duration upon receipt of the first tax increment. Additional information is as follows: Original tax capacity $ 8,202 Current tax capacity 122,983 Captured tax capacity 114,781 Total bonds issued and outstanding at December 31, 1989 $ Development District #1, Tax Increment District #5, Brick Pond. The District is an economic development district authorized by Minnesota Statutes Chapter 472 -A. It was established in 1989 and will have an eight -year duration upon receipt of the first tax increment. The City will receive the first receipt of tax increment in the year 1992. Additional information is as follows: Original tax capacity Current tax capacity Captured tax capacity Total bonds issued and outstanding at December 31, 1990 $ Note 18. Deferred Compensation Plan The government offers its employees a deferred compensation plan created in accordance with Internal Revenue Code Section 457. The plan, available to all government employees, permits them to defer a portion of their salary until future years. Participation in the plan is optional. The deferred compensation is not available to employees until termination, retirement, death or unforeseeable emergency. All amounts of compensation deferred under the plan, all property and rights purchased with those amounts, and all income attributable to those amounts, property or rights are (until paid or made available to the employee or other beneficiary) solely the property and rights of the government subject only to the claims of the government's general creditors. Participants' rights under the plan are equal to those of general creditor of the government in an amount equal to the fair market value of the deferred account for each participant. -40- $ 37,362 37,362 NOTES TO FINANCIAL STATEMENTS (CONTINUED) It is the opinion of the City's management that the City has no liability for losses under the plan but does have the duty of due care that would be required of an ordinary prudent investor. The City believes it is unlikely that it will use the assets to satisfy the claims of general creditors in the future. Note 19. Post Employment Health Care Benefits In addition to providing pension benefits, the City provides certain health care benefits for retired employees until their death. Substantially all of the City's employees hired before January 1, 1985 may become eligible for those benefits if they reach normal retirement age while working for the City. The cost of retiree health care benefits is recognized as an expenditure as claims are paid. In 1990 those costs totaled $30,689. Note 20. Defined Benefit Pension Plans - Statewide A. Plan Description All full -time and certain part -time employees of the City of Stillwater are covered by defined benefit pension plans admin- istered 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 sta- tute are covered by the PEPFF. The payroll for employees covered by PERF and PEPFF for the year ended December 31, 1990, was $1,365,792 and $990,244, respectively; the City's total payroll was $2,531,986. PERA provides retirement benefits as well as disability benefits to members, and benefits to survivors upon death of eligible members. Benefits are established by State Statute, and vest after three years of credited service. The defined retirement benefits are based on a member's 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. Thre retiring mem- ber receives the highter of step -rate benefit accrual formula (Method 1) or a level accrual formul (Method 2). Under Method 1, the annuity accrual rate for a Basic member is 2 percent of average salary for each of the first 10 years of service and 2.5 percent for each remaining year. For a Coordinated member, the annuity accrual rate is 1 percent of average salary for each of the first 10 years and 1.5 percent for each remaining year. -41- NOTES TO FINANCIAL STATEMENTS (CONTINUED) Using Method 2, the annuity accrual rate is 2.5 percent of average salary for Basic members and 1.5 percent for Coordinated members. For PEPFF members, the annuity accrual rate is 2.5 percent 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. 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 opt- ions 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. B. Contributions Required and Contributions Made 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, Subd. 4 (g), the date of full funding required for the PERF and PEPFF is the year 2020. As part of the annual actuarial valuation, the PERA's actuary determines the sufficiency of the statutory contribution rates towards meeting the required full funding deadline. The actuary compares the actual contribution rate to a "required" contribution rate. Current combined statutory contribution rates and actuarially required contribution rates for the plans are as follows: Statutory Rates Required Employees Employer Rates PERF (Basic and Coordinated Plan) PEPFF -42- 4.47% 4.82% 8.83% 8% 12% 16.21% Total contributions made by the City during fiscal year 1990 were: Percentage of Amounts Covered Payroll Employees Employer Employees Employer PERF (Basic and Coordinated Plans) $ 58,956 $ 63,036 4.32% 4.62% PEPFF 79,220 118,829 8.00% 12.00% Totals $ 138,176 $ 181,865 NOTES TO FINANCIAL STATEMENTS (CONTINUED) The City's contribution for the year ended June 30, 1990 to the PERF represented 0.13 percent of total contributions required of all par- ticipating entities. For the PEPFF, contributions for the year ended June 30, 1990, represented 0.82 percent 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 bene- fits, 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 obliga- tion for individual employers. The pension benefit obligations as of June 30, 1990 are shown below (in thousands): Total pension benefit obligation Net assets available for benefits, at cost (market value for PERF;$3,547,243; PEPFF;$803,320) Unfunded (over- funded) pension benefit obligation $ 839,803 $ (81,615) The measurement of the pension benefit obligation is based on an actuarial valuatjion as of June 30, 1990. Net assets available to pay pension benefits were valued as of June 30, 1990. 2. Changes in Actuarial Methods and Benefit Provisions. For the fiscal year 1990 actuarial valuation, the PERA Board of Trustees approved the use of new withdrawal rates. The change was made to reduce, if not eliminate, the series of large, annually recurring actuarial losses in the last few years due to lower than expected terminations. -43- PERF PEPFF $ 4,089,960 $ 657,453 3,250,157 739,068 NOTES TO FINANCIAL STATEMENTS (CONTINUED) With the adoption of new withdrawal rates, the pension benefit obligation increased $59,942,000 in the PERF and $6,978,000 in the PEPFF. 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, 1990. This information is useful in assessing the pension plan's accumulation of sufficient assets to pay pension benefits as they become due. E. Related Party Investments As of June 30, 1990, and for the fiscal year then ended, PERA held no securities issued by the City or other related parties. Note 21. Defined Benefit Pension Plan - Stillwater Fire Relief Association Plan Description Firefighters of the City of Stillwater are members of the Stillwater Fire Relief Association. The Association is the administrator of a single - employer pension plan that was established January 1, 1886, and operates under the provisions of Minnesota Statute Subsection 424A, as amended. It is governed by a board of nine members: Six board members are elected by the members of the Association, while the Stillwater Mayor, Finance Director and Fire Chief are ex- officio members of the Board of Trustees. Benefits are payable in a lump sum, based upon years of service, to eligible members of the Association upon retirement or permanent disability incurred in the performance of duties or death. Benefits are also payable for permanent disability incurred in a manner other than in performance of duties in a lump sum prorated over years of service. Since this is a volunteer fire department, no salaries are paid to members. Pension benefit obligations on an actuarial basis are not calculated for individual volunteer fire relief associations since state stat- utes permit an alternate calculation of required reserves based on overall actuarial assumptions. -44- NOTES TO FINANCIAL STATEMENTS (CONTINUED) The required reserve, calculated in accordance with Minnesota Statutes Subsection 69.772, compared with the assets of the pension fund at December 31, 1990, 1989, and 1988 is as follows: Associated assets at cost (market value at December 31, 1990; $836,016) $ Required reserves Assets in recess of reserves (Unfunded accrued liability) $ 1990 809,127 $ (825,252) (16,125)$ Required reserves at December 31, 1990 can be segregated as follows: Retired and terminated employees not yet receiving benefits Current employees - nonvested Current employees - vested 1989 727,506 $ (785,532) 1988 604,390 (603,770) (58,026)$ 620 $ 69,212 100,080 655,960 $ 825,252 Historical trend information beyond the three years reported is not available. Contributions Required and Made The City makes contributions to the Association annually in an amount equal to the Fire Aid received from the State of Minnesota as required by Minnesota Statutes. The City is required to make contributions to the Association in the following year if the following years anticipated administrative expenses plus the anti- cipated increase in the required reserves plus amortization of the original unfunded accrued liability exceeds the anticipated revenues The City was not required to make any contributions in excess of Fire Aid for 1990, 1989, or 1988. The contributions made by the City to the Association for 1990, 1989, and 1988 was $48,410, $48,268, and $46,882, respectively. Related Party Investments As of December 31, 1990, and for the year then ended, the Association held no securities issued by the City or other related parties. -45- Note 22. Subsequent Event NOTES TO FINANCIAL STATEMENTS (CONTINUED) On June 4, 1991 the council awarded a construction contract for downtown recontstruction of $4,700,000. It is anticipated that the total contracts to be awarded on this project will be approximately $6,300,000. Financing for this project is to be accomplished by issuing $1,700,000 of G.O. Special Assessment Bonds, $3,500,000 of Tax Increcment Financing Bonds, and $1,200,000 in state aids. COMBINING AND INDIVIDUAL FUND STATEMENTS AND ACCOUNT GROUPS GENERAL FUND ASSETS Cash and investments Accrued interest receivable Accounts receivable Taxes receivable: Delinquent Due from County Special assessments receivable: Delinquent Deferred Due from other governments Advance to other funds Inventory Total assets LIABILITIES AND FUND BALANCE Liabilities: Accounts payable Contracts payable Salaries payable Due to other governments Due to other funds Deferred revenue Compensated absences payable Total liabilities Fund balance: Reserved: Reserved for inventories Reserved for advances Reserved for compensated absences Unreserved: Designated for insurance Designated for working capital Total fund balance CITY OF STILLWATER MINNESOTA GENERAL FUND COMPARATIVE BALANCE SHEETS December 31, 1990 and 1989 Total liabilities and fund balance -47- 1990 1989 $ 1,829,052 $ 1,998,336 20,978 13,337 8,945 1,354 127,296 179,374 421,055 103,715 891 891 26,909 - 43,585 9,587 328,867 199,374 2,710 3,490 $ 2,810,288 $ 2,509,458 $ 51,394 $ 42,997 1,147 117,820 16,912 13,319 18,020 6,401 795 155,096 180,265 60,839 56,356 $ 304,203 $ 417,158 $ - $ 3,490 328,868 199,374 362,373 343,399 17,763 17,763 1,797,081 1,528,274 $ 2,506,085 $ 2,092,300 $ 2,810,288 $ 2,509,458 GENERAL FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL Year Ended December 31, 1990 (With comparative actual amounts for the year ended December 31, 1989) Revenues: Property taxes: Current Delinquent Other Total property taxes $ 2,004,180 $ 2,030,843 $ Licenses and permits: Business Non - business Total licenses and permits Fines and forfeits Charges for services: Fire contracts Administrative Other Total charges for services Intergovernmental revenues: State: Homestead credit Local government aid Equalization aid Highway aid Police aid Police training aid Surcharge rebate Fire aid Capital outlay grant Cr inry: Highway aid Gravel tax School district: Juvenile officer Total intergovernmental Miscellaneous: Interest Refunds and reimbursements Other. Total miscellaneous Total revenues CITY OF STILLWATER, MINNESOTA $ 2,004,180 $ 1,919,165 $ - 111,658 20 $ 50,250 $ 47,813 $ (2,437)$ 49,982 70,095 80,973 10,878 88,652 $ 120,345 $ 128,786 $ 8,441 $ 138,634 $ 96,100 $ 129,387 $ 33,287 $ 94,496 $ 151,927 $ 154,601 $ 2,674 $ 151,928 40,936 62,361 21,425 36,477 44,725 51,285 6,560 55,502 1990 Variance Favorable Budget Actual (Unfavorable) 237,588 $ 268,247 $ 612,352 $ 846,620 31,901 16,920 63,000 4,500 49,800 1,000 2,200 15,980 614,545 $ 846,763 31,901 16,920 66,867 6,900 48,410 4,999 31,011 2,649 15,916 $ 1,644,273 $ 1,686,881 $ $ 40,000 $ 134,394 $ 1,500 57,223 23,820 $ 41,500 $ 215,437 $ $ 4,143,986 $ 4,459,581 $ -48- 1989 Actual (85,015)$ 1,741,455 111,658 43,999 20 421 26,663 $ 1,785,875 30,659 $ 243,907 2,193 $ 463,998 143 1,247,810 16,920 3,867 66,004 2,400 7,632 7,249 (1,390) 48,268 4,999 1,287 30,011 2,073 449 2,544 (64) 15,634 42,608 $ 1,879,419 94,394 $ 89,521 57,223 126,120 22,320 34,875 173,937 $ 250,516 315,595 $ 4,392,847 (continued) GENERAL FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL (CONTINUED) Year Ended December 31, 1990 (With comparative actual amounts for the year ended December 31, 1989) Expenditures: General Government: Mayor and Council: Personnel services Services and charges Miscellaneous Capital outlay Elections: Personnel services Services and charges Supplies Miscellaneous Capital outlay Total elections Administration and finance: Personnel services Services and charges Supplies Miscellaneous Capital outlay Total administration and finance Law /City Attorney: Personnel services Services and charges Supplies Miscellaneous Total law /city attorney Plant operation: Services and charges Supplies Miscellaneous Capital outlay Total plant operations $ Total general government $ CITY OF STILLWATER, MINNESOTA Variance Favorable 1989 Budget Actual (Unfavorable) Actual $ 30,562 $ 6,956 800 Total mayor and council $ 38,318 9,000 $ 535 550 115 100 $ 10,300 $ $ 290,529 $ 101,032 9,975 24,000 24,857 450,393 $ $ 39,204 $ 91,480 4,000 $ 134,684 $ $ 52,343 $ 5,750 200 14,025 72,318 $ 706,013 $ -49- 1990 30,683 $ (121)$ 30,504 6,228 728 4,890 1,781 (981) 1,919 - - 7,983 38,692 $ (374)$ 45,296 8,450 $ 550 $ 709 (174) 235 315 151 (36) 100 - 9,645 $ 655 $ 297,353 $ (6,824)$ 274,833 93,062 7,970 89,021 9,313 662 9,286 23,019 981 23,009 16,496 8,361 14,024 439,243 $ 11,150 $ 410,173 39,554 $ (350)$ 36,507 93,810 (2,330) 98,716 1,668 2,332 2,366 305 (305) 460 135,337 $ (653)$ 138,049 49,388 $ 2,955 $ 51,977 2,657 3,093 2,969 220 (20) 84 5,592 8,433 8,992 57,857 $ 14,461 $ 64,022 680,774 $ 25,239 $ 657,540 (continued) GENERAL FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL (CONTINUED) Year Ended December 31, 1990 (With comparative actual amounts for the year ended December 31, 1989) Public safety: Police: Personnel services Services and charges Supplies Miscellaneous Capital outlay Total police Fire: Personnel services Services and charges Supplies Miscellaneous Capital outlay Total fire Civil defense: Personnel services Services and charges Supplies Miscellaneous Capital outlay Total civil defense Planning and inspection: Personnel services Services and charges Supplies Miscellaneous Capital outlay Total planning and inspection Total public safety Public works: General: Personnel services Services and charges Supplies Miscellaneous Capital outlay Total general CITY OF STILLWATER, MINNESOTA 1990 Variance Favorable 1989 Budget Actual (Unfavorable) Actual $ 922,551 $ 934,337 $ (11,786)$ 880,341 91,113 89,152 1,961 83,587 28,041 30,409 (2,368) 23,186 30,019 34,119 (4,100) 29,867 79,182 80,397 (1,215) 56,956 $ 1,150,906 $ 1,168,414 $ $ 398,375 $ 393,887 $ 96,106 107,697 15,129 10,188 3,425 4,633 10,141 10,390 (17,508)$ 1,073,937 4,488 $ 375,408 (11,591) 107,922 4,941 11,610 (1,208) 3,024 (249) 210,670 $ 523,176 $ 526,795 $ (3,619)$ 708,634 $ 2,100 $ 2,131 $ (31)$ 2,120 1,925 1,740 185 1,585 100 - 100 - 200 - 200 - 20,000 11,205 8,795 - $ 24,325 $ 15,076 $ 9,249 $ 3,705 $ 171,547 $ 188,064 $ (16,517)$ 168,008 55,422 38,886 16,536 30,473 4,450 2,399 2,051 2,110 1,120 1,179 (59) 980 14,300 1,930 12,370 709 $ 246,839 $ 232,458 $ $ 1,945,246 $ 1,942,743 $ 14,381 $ 202,280 2,503 $ 1,988,556 $ 91,881 $ 94,650 $ (2,769)$ 86,576 31,473 31,749 (276) 26,322 11,300 5,626 5,674 10,951 300 492 (192) 391 3,000 - 3,000 609 $ 137,954 $ 132,517 $ 5,437 $ 124,849 -50- (continued) Streets: Personnel services Services and charges Supplies Miscellaneous Capital outlay Shop: Personnel services Services and charges Supplies Miscellaneous Capital outlay Total public works Total other CITY OF STILLWATER, MINNESOTA GENERAL FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL (CONTINUED) Year Ended December 31, 1990 (With comparative actual amounts for the year ended December 31, 1989) Total signs and lighting $ 195,095 $ 227,169 86,500 3,000 59,508 $ 78,355 $ 21,197 12,200 500 24,595 Total shop $ 136,847 $ Signs and lighting: Charges and services $ 112,000 $ Supplies 10,000 Miscellaneous 1,000 Other: Personnel services $ 31,610 $ Services and charges 1,000 Miscellaneous 5,000 -51- 1990 Variance Favorable 1989 Budget Actual (Unfavorable) Actual Total streets $ 571,272 $ 366,611 $ 202,985 $ (7,890)$ 226,224 82,039 145,130 144,632 56,104 30,396 54,762 391 2,609 2,011 25,092 34,416 156,208 72,226 $ 16,326 13,482 153 12,273 30,689 $ 921 $ 2,689 (1,689) 44,619 (39,619) $ 37,610 $ 77,997 $ (40,387)$ 204,661 $ 583,837 6,129 $ 69,703 4,871 16,162 (1,282) 11,346 347 10 12,322 - 114,460 $ 22,387 $ 97,221 125,934 $ (13,934)$ 104,955 8,306 1,694 5,904 1,000 - 123,000 $ 134,240 $ (11,240)$ 110,859 $ 969,073 $ 747,828 $ 221,245 $ 916,766 29,182 2,710 18,186 50,078 Total expenditures $ 3,657,942 $ 3,449,342 $ 208,600 $ 3,612,940 (continued) Revenues over expenditures Other financing sources (uses): Operating transfers in: Capital Project Fund Operating transfers out: Special Revenue Fund Debt Service Fund Capital Projects Fund Enterprise Fund Total other financing sources (uses) Fund balance, January 1 Fund balance, December 31 CITY OF STILLWATER, MINNESOTA GENERAL FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL (CONTINUED) Year Ended December 31, 1990 (With comparative actual amounts for the year ended December 31, 1989) $ 249,708 $ (766,755) (12,500) $ (529,547)$ Revenues and other sources over expenditures and other uses $ (43,503)$ 1990 Variance Favorable 1989 Budget Actual (Unfavorable) Actual $ 486,044 $ 1,010,239 $ 524,195 $ 779,907 163,475 $ (86,233)$ 470,150 (747,429) (12,500 (596,454)$ (66,907)$ (332,902) 413,785 $ 457,288 $ 447,005 2,092,300 1,645,295 $ 2,506,085 19,326 (633,797) (150,724) (6,491) (12,040) $ 2,092,300 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 SPECIAL REVENUE FUNDS Special Events - to account for special events held within the City and spon- sored by City civic organizations. Financing is provided from the General Fund. Friends of Police Department - to account for donations received to support the police department and used for expenditures not included in the general operating budget of the department. Friends of Fire Department - to account for donations received to support the fire department and used for expenditures not included in the general operating budget of the department. Infrastructure Reserve - to account for funds accumulated for infrastructure replacement. Funds were provided in prior years through a special tax levy. Brown's Creek Watershed - to account for the implementation and maintenance of the Brown's Creek Watershed area. Financing is provided from the General Fund. Middle River Watershed - to account for the implementation and maintenance of the Middle River Watershed area. Financing is provided from the General Fund. DARE - to account for operations of a drug awareness program. Financing is pro- vided from donations. Library - to account for the operations of the City's library. Park - to account for the operations of the City's parks. Park Dedication - to account for fees paid by developers and legally restricted to capital outlay for City parks. Dutch Elm Control - to account for diseased tree removal and containment within the City. Funds were provided in prior years through a special tax levy. Washington County Recycling - to account for recycling grants received from Washington County and restricted as to use. Library Trust - to account for funds received from private trusts and restricted to library expenditures not included in the operating budget of the library. Friends Friends Browns of of Infra- Creek Middle Special Police Fire structure Watershed River ASSETS DARE Events Department Department Reserve District Watershed II Cash and investments $ Accrued interest receivable Accounts receivable Taxes receivable: Delinquent Due from County Special assessments receivable: Delinquent Deferred Special deferred Tax forfeit Liabilities: Accounts payable $ Salaries payable Due to other governments Deferred revenue Compensated absences payable Total Liabilities $ SPECIAL REVENUE FUNDS COMBINING BALANCE SHEET December 31, 1990 (With comparative totals for December 31, 1989) 100 $ Total assets $ 100 $ 8,939 $ 703 $ 1,543 $ 124,088 $ 10,284 $ 11,5711 LIABILITIES AND FUND BALANCE CITY OF STILLWATER, MINNESOTA 8,836 $ 685 $ 1,513 $ 122,142 $ 10,149 $ 11,43 103 18 30 1,493 135 13 310 - 11 1 310 - - $ - $ - $ 310 $ - $ 1 Fund balance: Unreserved: Designated $ 100 $ 8,939 $ 703 $ 1,543 $ 123,778 $ 10,284 $ 11,571 Total liabilities and fund balance $ 100 $ 8,939 $ 703 $ 1,543 $ 124,088 $ 10,284 $ 11,5711 -53- 143 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 Washington Park County Dedi- Dutch Elm Recycling Library Totals Library Park cation Control Grant Trust 1990 1989 $ 53,423 $ 18,903 $ 43,494 $ 105,701 $ 9,032 $ 12,436 $ 397,853 $ 358,110 - - 439 1,293 541 145 4,335 3,604 - 1,836 - - - - 1,836 911 - - - - - - 310 820 - - - 74 - - 217 111 - - - 464 - - 464 558 - - - 1,123 - - 1,123 1,412 - - - 494 - - 494 1,595 - - - 280 - - 280 280 $ 53,423 $ 20,739 $ 43,933 $ 109,429 $ 9,573 $ 12,581 $ 406,912 $ 367,401 $ 9,143 $ 1,241 $ - $ - $ 507 $ - $ 10,891 $ 7,063 - 4,997 - - - - 4,997 3,567 7,707 - - - - - 7,707 105 - - - 2,360 - - 2,670 4,665 4,423 2,647 - - - - 7,070 5,228 $ 21,273 $ 8,885 $ - $ 2,360 $ 507 $ - $ 33,335 $ 20,628 $ 32,150 $ 11,854 $ 43,933 $ 107,069 $ 9,066 $ 12,581 $ 373,577 $ 346,773 $ 53,423 $ 20,739 $ 43,933 $ 109,429 $ 9,573 $ 12,581 $ 406,912 $ 367,401 -54- revenues: Property taxes: Delinquent Charges for services Interest Donations Park dedication fee Miscellaneous SPECIAL REVENUE FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE December 31, 1990 (With comparative totals for the year ended December 31, 1989) Intergovernmental: Local: County recycl- ing grant $ Special assessments Current $ Delinquent Prepayments Total special assessments $ Total revenues $ xpenditures: Personnel service $ Services and charges Supplies Miscellaneous Capital outlay Total expendi- tures $ revenues over (under) expenditures $ Special DARE Events - $ - $ - $ - $ - $ - $ - $ _ $ - $ - $ - $ 598 100 - 100 $ 598 $ - $ _ $ - 717 100 $ CITY OF STILLWATER, MINNESOTA Friends Friends of Infra - of Police Fire Structure Department Department Reserve -55- (119)$ (1,052)$ - $ _ $ 110 $ 174 $ 265 1,825 375 $ 1,999 $ - $ _ $ 87 1,427 1,835 717 $ 1,427 $ 1,922 $ 77 $ 510 $ - $ - $ _ $ - $ _ $ - $ _ $ - $ _ $ 8,671 $ 785 $ 131 9,181 $ 916 $ - $ _ $ 1,540 - $ 1,540 $ 9,181 $ (624)$ 1 1 1 1 Browns Creek Middle Watershed River District Watershed 1 1 1 1 8041 1 804' 1 1 1 1 1 1 1 Washington Park County Dedi- Dutch Elm Recycling Library Totals Library Park cation Control Grant Trust 1990 1989 II - $ - $ - $ - $ - $ - $ 510 $ 513 $ 5,984 $ - $ - $ - $ - $ - $ 5,984 $ 5,559 - $ - $ - $ - $ 70,894 $ - $ 70,894 $ 30,916 II $ - $ - $ - $ 388 $ - $ - $ 388 $ 1,391 II _ _ _ 94 _ _ 1,110 241 1,110 1,110 780 I $ - $ - $ - $ 1,592 $ - $ - $ 1,592 $ 2,412 $ - $ 5 $ 2,551 $ 7,527 $ 3,143 $ 731 $ 25,099 $ 25,590 1,199 - - - - 113 3,502 28,855 II - - 11,941 _ _ - 11,941 5,000 3,917 20,135 - $ 24,183 24,369 II $ 11,100 $ 20,140 $ 14,492 $ 9,119 $ 74,037 $ 844 $ 143,705 $ 123,214 ill $ 306,683 $ 241,891 $ $ $ $ $ 548,574 $ 463,999 II 70,034 37,192 _ - 25,261 - 133,204 107,186 75,924 22,811 791 2,057 101,670 87,080 5,035 1,435 - - - - 8,010 5,303 11 21,722 48,692 5,720 - - - 79,396 105,168 $ 479,398 $ 352,021 $ 5,720 $ 791 $ 25,261 $ 2,057 $ 870,854 $ 768,736 II $ (468,298)$ (331,881)$ 8,772 $ 8,328 $ 48,776 $ (1,213)$ (727,149)$ (645,522) (continued) 1 1 1 -56- Other financing sources (uses): Operating transfers in General Fund $ Capital Projects Fund Operating tranfers out Enterprise Fund Other financing sources (uses), net $ SPECIAL REVENUE FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE (CONTINUED) December 31, 1990 (With comparative totals for the year ended December 31, 1989) DARE Revenues and other sources over (under) expenditures and other uses $ 100 $ Fund balance, January 1 Fund balance, December 31 $ CITY OF STILLWATER, MINNESOTA Special Events Department Department Reserve ,8,058 100 $ 8,939 $ Friends Friends of Infra - of Police Fire structure 1,000 $ - $ - $ 881 $ (1,052)$ -57- $ 1,000 $ _ $ _ $ Browns Creek Watershed $ 77 $ 9,181 $ 1,755 1,466 114,597 703 $ 1,543 $ 123,778 $ District Watershed Middle II River 1 1 1 1 1 a 1 (624)$ 804 10,908 10,773' 10,284 $ 11,5771 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 Washington Park County Dedica- Dutch Elm Recycling Library Totals Library Park tion Control Grant Trust 1990 1989 $ 459,106 $ 286,878 $ 18,082 43,132 $ 477,188 $ 330,010 $ $ - $ 445 $ - $ 747,429 $ 633,797 - - - 61,214 63,152 - - - (54,690) - (54,690) (7,065) - $ - $ (54,245)$ - $ 753,953 $ 689,884 $ 8,890 $ (1,871)$ 8,772 $ 8,328 $ (5,469)$ (1,213)$ 26,804 $ 44,362 23,260 13,725 35,161 98,741 14,535 13,794 346,773 302,411 $ 32,150 $ 11,854 $ 43,933 $ 107,069 $ 9,066 $ 12,581 $ 373,577 $ 346,773 -58- Revenues: Interest Expenditures: Current: Services and charges Revenues over (under) expenditures Other financing source: Transfer from General Fund Revenues and other source over (under) expenditures Fund balance, January 1 Fund balance, December 31 CITY OF STILLWATER, MINNESOTA SPECIAL REVENUE FUND - SPECIAL EVENTS STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL Year Ended December 31, 1990 (With comparative totals for the year ended December 31, 1989) 1990 Variance Favorable 1989 Budget Actual (Unfavorable) Actual $ - $ 598 $ 598 $ 607 1,000 717 283 175 $ (1,000)$ (119)$ 881 $ 432 1,000 1,000 - 1,019 $ - $ 881 $ 881 $ 1,451 8,058 6,607 $ 8,939 8,058 SPECIAL REVENUE FUND - BROWNS CREEK WATERSHED DISTRICT STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL Year Ended December 31, 1990 (With comparative totals for the year ended December 31, 1989) Total revenues Expenditures: Miscellaneous Revenues (under) expenditures Other financing source: Transfer from General Fund Revenues and other source (under) expenditure Fund balance, January 1 Fund balance, December 31 CITY OF STILLWATER, MINNESOTA 10,000 1990 Variance Favorable 1989 Budget Actual (Unfavorable) Actual Revenues: Interest $ - $ 785 $ 785 $ 845 Miscellaneous - 131 131 $ - $ 916 $ 916 $ 845 $ 10,500 $ 1,540 $ 8,960 $ $ (10,500)$ (624)$ 9,876 $ 845 - (10,000) 652 $ (500)$ (624)$ (124)$ 1,497 10,908 9,411 10,284 $ 10,908 CITY OF STILLWATER, MINNESOTA SPECIAL REVENUE FUND - MIDDLE RIVER WATERSHED DISTRICT STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL Year Ended December 31, 1990 (With comparative actual amounts for the year ended December 31, 1988) 1990 Fund balance, January 1 10,773 Fund balance, December 31 $ 11,577 Variance Favorable 1989 Budget Actual (Unfavorable) Actual Revenues: Interest $ - $ 804 $ 804 $ 770 Expenditures: Services and charges 10,500 - 10,500 - Revenues over (under) expenditures $ (10,500)$ 804 $ 11,304 $ 770 Other financing source: Transfer from General Fund 10,000 - (10,000) 1,975 Revenues and other source over (under) expenditures $ (500)$ 804 $ 1,304 $ 2,745 8,028 $ 10,773 SPECIAL REVENUE FUND - LIBRARY STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL Year Ended December 31, 1990 (With comparative actual amounts for the year ended December 31, 1989) Total revenues Other financing sources: Operating transfer in: General Fund Capital Projects Fund Total other financing sources Revenues and other sources over (under) expenditures Fund balance, January 1 Fund balance, December 31 CITY OF STILLWATER, MINNESOTA 1990 Variance Favorable 1989 Budget Actual (Unfavorable) Actual Revenues: Charges for services $ 5,000 $ 5,984 $ 984 $ 5,559 Donations - 1,199 1,199 7,835 Miscellaneous 300 3,917 3,617 3,722 $ 5,300 $ 11,100 $ 5,800 $ 17,116 Expenditures: Personnel services $ 322,553 $ 306,683 $ 15,870 $ 255,201 Services and charges 73,683 70,034 3,649 61,160 Supplies 83,070 75,924 7,146 65,754 Miscellaneous 5,100 5,035 65 3,992 Capital outlay 26,904 21,722 5,182 8,983 Total expenditures $ 511,310 $ 479,398 $ 31,912 $ 395,090 Revenues (under) expenditures $ (506,010)$ (468,298)$ 37,712 $ (377,974) $ 479,106 $ 459,106 $ (20,000)$ 377,782 26,904 18,082 (8,822) -62- 8,983 $ 506,010 $ 477,188 $ (28,822)$ 386,765 $ - $ 8,890 $ 8,890 $ 8,791 23,260 14,469 $ 32,150 $ 23,260 SPECIAL REVENUE FUND - PARK STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL Year Ended December 31, 1990 (With comparative actual amounts for the year ended December 31, 1989) Revenues: Interest Miscellaneous Total revenues Expenditures: Personnel services Services and charges Supplies Miscellaneous Capital outlay Total revenues Revenues (under) expenditures Other financing sources: Operating transfer in: General Fund Capital Projects Fund Fund balance, January 1 Residual equity transfer Fund balance, December 31 CITY OF STILLWATER, MINNESOTA $ 11,000 $ $ 219,904 $ 31,875 23,200 2,225 44,553 $ 321,757 $ Revenues and other sources over (under) expenditures $ Variance Favorable Budget Actual (Unfavorable) ( - $ 11,000 310,757)$ 1990 5 $ 20,135 20,140 $ 9,140 $ 241,891 $ 37,192 22,811 1,435 48,692 352,021 $ (331,881)$ $ 266,204 $ 286,878 $ 44,553 43,132 - $ (1,871)$ 13,725 $ 11,854 5 $ 9,135 (21,987)$ (5,317) 389 790 (4,139) (1,871)$ 1989 Actual 354 19,272 19,626 208,798 35,123 19,498 1,311 54,169 (30,264)$ 318,899 (21,124)$ (299,273) 20,674 $ 249,999 (1,421) 54,169 4,895 53,028 (44,198) $ 13,725 SPECIAL REVENUE FUND - WASHINGTON COUNTY RECYCLING GRANT STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL Year Ended December 31, 1990 (With comparative actual amounts for year ended December 31, 1989) Revenues: Intergovernmental: Washington County Recycling Grant Interest Total revenues Expenditures: Services and charges Revenues over expenditures Other financing sources (uses): Transfer from General Fund Transfer to Enterprise Fund Revenues and other sources over expenditures & other (uses) Fund (deficit), January 1 Fund balance (deficit), December 31 CITY OF STILLWATER, MINNESOTA 1990 Variance Favorable 1989 Budget Actual (Unfavorable) Actual 14,100 $ 70,894 $ 56,794 $ 30,916 3,143 3,143 156 14,100 $ 74,037 $ 59,937 $ 31,072 14,100 $ 25,261 $ 11,161 $ 9,028 - $ 48,776 $ 48,776 $ 22,044 $ 445 $ 445 $ - $ (6,000) (54,690) (48,690) (7,065) $ (5,555)$ (5,469)$ 86 $ 14,979 14,535 (444) $ 9,066 $ 14,535 FUND BALANCE ASSETS Cash and investments Accrued interest receivable CITY OF STILLWATER, MINNESOTA Total assets $ 2,382 $ 2,910 $ 1,759 $ 1,022 Fund balance: Designated for fund purpose LIBRARY TRUST FUND COMBINING BALANCE SHEET December 31, 1990 (With comparative totals for December 31, 1989) Total fund balance $ Mcluer — Hollis R. Alice R. Tozer Webster Murdock Murdock Foundation Library Library Library Library Fund Fund Fund Fund $ 2,353 $ 2,896 $ 1,738 $ 1,006 29 14 21 16 2,382 $ 2,910 $ 1,759 $ 1,022 2,382 $ 2,910 $ 1,759 $ 1,022 Carl E. Doctor H. Nelson Humphrey Van Meier Library Library Library Totals Fund Fund Fund 1990 1989 $ 1,395 $ - $ 17 $ 1,412 $ - $ 189 $ 189 $ $ 1,412 $ 32 $ 3,064 $ 12,581 $ 13,794 $ 1,412 $ 32 $ 3,064 $ 12,581 $ 13,794 731 $ 3,281 113 844 $ 3,281 CITY OF STILLWATER, MINNESOTA LIBRARY TRUST FUND COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE Year Ended December 31, 1990 (With comparative totals for the year ended December 31, 1989) Mcluer - Hollis R. Alice R. Tozer Webster Murdock Murdock Foundation Library Library Library Library Fund Fund Fund Fund Revenues: Interest $ 167 $ 60 $ 119 $ 93 Donations 113 - - - Total revenues $ 280 $ 60 $ 119 $ 93 Expenditures: Supplies $ - $ - $ - $ 1,533 Revenues over (under) expenditures $ 280 $ 60 $ 119 $ (1,440) Fund balance, January 1 2,102 2,850 1,640 2,462 Fund balance, December 31 $ 2,382 $ 2,910 $ 1,759 $ 1,022 Carl E. Doctor H. Nelson Humphrey Van Meier Library Library Library Totals Fund Fund Fund 1990 1989 $ 103 $ - $ 189 $ 731 $ 3,281 - - - 113 - $ 103 $ - $ 189 $ 844 $ 3,281 $ - $ 424 $ 100 $ 2,057 $ 1,463 $ 103 $ (424)$ 89 $ (1,213)$ 1,818 1,309 456 2,975 13,794 11,976 $ 1,412 $ 32 $ 3,064 $ 12,581 $ 13,794 CITY OF STILLWATER, MINNESOTA LIBRARY TRUST FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL Year Ended December 31, 1990 (With comparative actual amounts for the year ended December 31, 1989) 1990 Variance Favorable 1989 Budget Actual (Unfavorable) Actual Revenues: Interest $ 365 $ 731 $ 366 $ 3,281 Donations 300 113 (187) - Total revenues $ 665 $ 844 $ 179 $ 3,281 Expenditures: Literature $ 665 $ 2,057 $ (1,392)$ 1,463 Revenues over (under) expenditures $ - $ (1,213)$ (1,213)$ 1,818 Fund balance, January 1 13,794 11,976 Fund balance, December 31 $ 12,581 $ 13,794 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 DEBT SERVICE FUNDS ASSETS Cash and investments Accrued interest receivable' Accounts receivable Taxes receivable: Delinquent Due from County Special assessments receivable: Delinquent Deferred Special deferred Tax forfeit land Due from other governments LIABILITIES AND FUND BALANCE CITY OF STILLWATER, MINNESOTA DEBT SERVICE FUNDS COMBINING BALANCE SHEET December 31, 1990 (With comparative totals for December 31, 1989) $1,350,000 Municipal $380,000 $1,000,000 , G.O. Building $625,000 G.O. G.O. Bonds of Bonds G.0 Bonds Bonds of Bonds of 1990 -A of 1966 of 1988 1986 -A 1986 -A 9,787 $ 19,854 $ 15,929 $ 169,786 $ 32,385 20 324 19 766 _ I 1,310 2,397 8,561 3,960 4,206 6,859 30,262 17,193 II - - II Total assets $ 9,807 $ 25,694 $ 25,204 $ 209,375 $ 53,538 Liabilities: - II payable $ 689 $ - $ - $ - $ Deposit payable - - - - - Deferred revenue - 1,310 2,397 8,561 3,960 , Total liabilities! $ 689 $ 1,310 $ 2,397 $ 8,561 $ 3,960 Fund balance: Reserved for debt service $ 9,118 $ 24,384 $ 22,807 $ 200,814 $ 49,578 II Total liabilities and fund balance $ 9,807 $ 25,694 $ 25,204 $ 209,375 $ 53,538 II -70- 1 1 1 1 1 1 1 1 1 1 1 $675,000 G.O. $700,000 Bonds TIF Bonds of 1984 of 1989 -B $ 130,630 $ 34,280 $ 185,210 $ 396,963 $ 620,720 $ 146,877 848 568 1,328 5,213 6,710 491 $ 2,944 14,614 $ - $ 2,944 2,944 $ 146,092 $ 149,036 $ - 127 - 37,855 Tax Increment Bonds of 1986 -A & 1987 -A $ $635,000 $840,000 $1,095,000 Improve- Improve- Improve- ment Bonds ment Bonds ment Bonds of 1987 of 1987 -C of 1989 -A 220 380 - 7,328 10,141 23,017 - 7,432 1,054 72,290 - 5,932 143,515 1,188,582 - 3,566 24,078 - - 198 875 - 149,036 $ 34,848 $ 224,520 $ 426,852 $ 807,473 $1,431,257 - 37,745 - - 127 17,348 169,902 1,260,872 - $ 127 $ 55,093 $ 169,902 $1,260,872 34,848 $ 224,393 $ 371,759 $ 637,571 $ 170,385 34,848 $ 224,520 $ 426,852 $ 807,473 $1,431,257 (Continued) -71- Liabilities: Accounts payable Deposit payable Deferred revenue DEBT SERVICES FUNDS COMBINING BALANCE SHEET (CONTINUED) December 31, 1990 (With comparative totals for the year ended December 31, 1989) ASSETS Cash and investments Accrued interest receivable Accounts receivable Taxes receivable: Delinquent Due from County Special assessments receivable: Delinquent Deferred Special deferred Tax forfeit land Due from other governments Total assets LIABILITIES AND FUND BALANCE Total liabilities Fund balance: Reserved for debt service Total liabilities and fund balance, CITY OF STILLWATER, MINNESOTA 1 1 1 $320,000 $1,050,000 1 Improve- Improve- $885,000 $285,000 ment Bonds ment Bonds Bonds Bonds I of 1986 -A of 1979 of 1980 of 1980 $ 195,065 $ 149,636 $ 148,571 $ 37,473 1 2,313 964 1,821 - - 5,917 681 1 1,825 31,367 15,345 5,301 1,091 - 4,451 83 12,417 412,742 227,374 145 1 $ 212,711 $ 594,709 $ 403,479 $ 43,683 1 1 $ - $ 201 $ - $ - 13,508 412,742 237,742 909 $ 13,508 $ 412,943 $ 237,742 $ 909 $ 199,203 $ 181,766 $ 165,737 $ 42,774 $ 212,711 $ 594,709 $ 403,479 $ 43,683 1 $400,000 $745,000 $4,850,000 $600,000 Improvement Improvement Improvement Improvement Bonds Bonds Bonds Bonds of 1982 . of 1983 of 1984 -A of 1984 -B $ 97,781 $ 333,765 $ 1,284,536 $ 360,620 $ 4,369,868 $ 3,524,139 1,344 3,874 4,142 3,904 34,649 40,136 $ 254,201 $ $ 147,455 $ 1,361 7,621 9,219 136,875 147,455 1,380 4,463 264,243 51,362 802,073 2,091,652 - 315,948 315,948 311,860 393,464 $ 4,448,026 $ 3,121 17,086 Totals 1990 1989 32,359 498,726 79,555 47,547 9,807 907,500 1,050,960 25,267 4,295,863 5,719,172 27,644 44,930 4,058 5,131 5,059 108,574 739,811 $10,487,688 $10,931,932 - $ - $ 890 $ 201 37,745 39,126 51,362 2,895,105 358,201 5,584,445 7,211,536 51,362 $ 2,895,105 $ 358,201 $ 5,623,080 $ 7,250,863 $ 106,746 $ 342,102 $ 1,552,921 $ 381,610 $ 4,864,608 $ 3,681,069 254,201 $ 393,464 $ 4,448,026 $ 739,811 $10,487,688 $10,931,932 Revenues over (under) expenditures Fund balance, January 1 Residual equity transfers in (out) Fund balance, December 31 CITY OF STILLWATER, MINNESOTA DEBT SERVICES FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE Year Ended December 31, 1990 (With comparative totals for the year ended December 31, 1989) G.O. $1,350,000 Municipal $625,000 Ice $380,000 $1,000,000 G.O. Building G.O. Arena G.O. G.O. Bonds of Bonds Bonds of Bonds Bonds of Bonds of 1990 -A of 1966 1988 of 1970 1986 -A 1986 -A Revenues: Property taxes: Current $ - $ 19,299 $ 30,833 $ - $ 141,010 $ 82,361 Delinquent - 1,022 2,133 1,643 5,797 1,666 Other - - - - - Total property taxes $ - $ 20,321 $ 32,966 $ 1,643 $ 146,807 $ 84,027 Intergovernmental: State: Homestead credit $ $ 6,158 $ 9,838 $ - $ 44,992 $ 26,279 Equalization aid 321 512 - 2,344 1,369 Special assessments: Current $ - $ - $ - $ - $ - $ Delinquent - - - - - Prepayments - - - - - Hookup charges - - - - - Total special assessments $ - $ - $ - $ - $ - $ Interest $ 2,969 $ 1,883 $ 108 $ 1,422 $ 4,447 $ Refunds and reimbursements - - - - - - Total revenues $ 2,969 $ 28,683 $ 43,424 $ 3,065 $ 198,590 $ 111,675 Expenditures: Debt service: Principal $ - $ 20,000 $ - $ 40,000 $ 125,000 $ 50,000 Interest - 5,365 41,575 1,280 13,825 54,420 Fees 689 530 387 135 452 400 Miscellaneous - - - - - - Total expenditures $ 689 $ 25,895 $ 41,962 $ 41,415 $ 139,277 $ 104,820 2,280 $ 2,788 $ 1,462 $ (38,350)$ 59,313 $ 6,855 Other financing sources (uses): Bond proceeds $ 6,838 $ - $ - $ - $ - $ - Operating transfers in: General Fund - - - - Enterprise Fur.d - - - - - Operating transfers out: Debt Service Fund - - (10,700) - - Other financing sources (uses), net $ 6,838 $ - $ - $ (10,700)$ - $ - Revenues over (under) expenditures and other financing sources (uses) r � 9,118 $ 2,788 $ 1,462 $ (49,050)$ 59,313 $ 6,855 21,596 21,345 51,155 141,501 42,723 (2,105) $ 9,118 $ 24,384 $ 22,807 $ - $ 200,814 $ 49,578 -74- 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 $ - $ - $ 71,047 $ - $ 150,015 $ - $ 10,606 15,815 9,757 659 - - 19,697 363 - $ 15,815 $ 9,757 $ 71,706 $ - $ 169,712 $ 363 $ 10,606 $ - $ - $ 22,669 $ - $ - $ - $ 3,384 - 1,181 - - - 176 $ - $ - $ - $ - $ - $ 4,603 $ 39,344 - - - - - 12,893 5,717 - - - - - 1,110 27,964 $ - $ - $ - $ - $ - $ 18,606 $ 73,025 $ 2,653 $ 6,135 $ 4,924 $ 3,297 $ 7,712 $ 33,919 $ 39,990 $ 18,468 $ 15,892 $ 100,480 $ 3,297 $ 177,424 $ 52,888 $ 127,181 Temporary Tax Tax $650,000 $675,000 $700,000 Increment $840,000 Increment G.0 G.O. TIF Bonds of $635,000 Improvement Bonds of Bonds of Bonds of of 1986 -A & Bonds Bonds of 1987 -B 1983 1984 1989 -B 1987 -A of 1987 1987 -C - $ 150,000 $ 10,000 $ - $ 25,000 $ - $ 75,000 4,687 43,830 55,662 78,240 - 47,340 - 200 654 543 828 - 467 - - - - 869 - $ 154,887 $ 54,484 $ 56,205 $ 104,937 $ - $ 122,807 18.468 $ (I38,995)S 45,996 $ (52,908)$ 72,487 $ 52,888 $ 4,374 $ -$ -$ -$ -$ -$ - 17,151 $ -$ -$ 17,151 $ -$ -$ -$ $ 18,468 $ (138,995)$ 63,147 $ (52,908)$ 72,487 $ 52,888 $ 4,374 30,123 208,836 82,945 87,756 151,906 318,871 633,198 (48,591) (69.841) - - - - $ - $ - $ 146,092 $ 34,848 $ 224,393 $ 371,759 $ 637,572 -75- (Continued) 1 1 CITY OF STILLWATER, MINNESOTA DEBT SERVICE FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE (CONTINUED) Year Ended December 31, 1990 (With comparative totals for the year ended December 31, 1989) 1,095,000 $320,000 $ 1,050,000 Improvement Improvement G.O. $885,000 $285,000 $290,000 Bonds Bonds of Bonds of Bonds of Bonds of Bonds of 1989 -A 1986 -A 1979 1980 1980 of 1981 II Revenues: Property taxes: Current $ - $ - $ - $ - $ 10,212 $ - II Delinquent 525 456 - - - - Other - - - _ - Total property taxes $ - $ - $ - $ - $ 10,737 $ 456 Intergovernmental: State: Homestead credit $ - $ - $ - $ - $ 3,258 $ - Equalization aid - - - - 170 - Special assessments: Current 118,411 $ 9,515 $ 75,492 $ 46,736 $ 14,992 $ 24,026 II Delinquent - 3,273 28,898 6,653 361 - Prepayments 104,414 23,375 11,968 420 - - Hookup charge - - - - - - Total special assessments $ 222,825 $ 36,163 $ 116,358 $ 53,809 $ 15,353 $ 24,026 II Interest $ 3,227 $ 13,863 $ 13,734 $ 6,382 $ 158 $ 4,475 Refunds and reimbursements - - - - - - Total revenues $ 226,052 $ 50,026 $ 130,092 $ 60,191 $ 29,676 $ 28,957 Expenditures: I Debt service: Principal $ - $ 35,000 $ 50,000 $ 55,000 $ 35,000 $ 15,000 Interest 61,716 15,820 33,495 27,083 3,720 474 675 II Fees 206 430 400 480 444 Miscellaneous - - - - - - Total expenditures $ 61,922 $ 51,250 $ 83,895 $ 82,563 $ 39,194 $ 16,119 Revenues over (under) expenditures $ 164,130 $ (1,224)$ 46,197 $ (22,372)$ (9,518)$ 12,838 II Other financing sources (uses): Bond proceeds $ - $ - $ - $ - $ - $ Operating transfers in: II General Fund - - - - - Enterprise Fund - - - - 5,500 - Operating transfers out: Debt Service Fund - - - - - - Other financing sources II (uses), net $ - $ - $ - $ - $ 5,500 $ - Revenues over (under) expenditures and other financing sources (uses) $ 164,130 $ (1,224)$ 46,197 $ (22,372)$ (4,018)$ 12,838 Fund balance, January 1 6,255 200,427 135,569 125,268 24,792 62,382 II Residual equity transfer in (out) - - 62,841 22,000 (75,220) Fund balance, December 31 $ 170,385 $ 199,203 $ 181,766 $ 165,737 $ 42,774 $ - 1 -76- 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 $400,000 $745,000 $4,850,000 $600,000 Improvement Improvement Improvement Improvement Bonds Bonds Bonds of Bonds of Total of 1982 of 1983 1984 -A 1984 -B 1990 1989 $ 2,085 $ - $ 38,512 $ 40,487 $ 596,467 $ 556,497 17 - - 2,758 62,308 23,092 $ 2,102 $ - $ 38,512 $ 43,245 $ 658,775 $ 579,589 $ 665 $ - $ 12,288 $ 12,918 $ 142,449 $ 105,358 35 - 640 673 7,421 - $ 8,768 $ 23,269 $ 172,845 $ 9,199 $ 547,200 $ 232,814 1,961 - 392,482 1,883 454,121 56,645 1,878 16,146 839,568 2,263 1,029,106 234,802 - - - 15,029 15,029 15,066 $ 12,607 $ 39,415 $ 1,404,895 $ 28,374 $ 2,045,456 $ 539,327 $ 2,365 $ 22,500 $ 141,455 $ 23,217 $ 340,835 $ 220,285 $ 17,774 $ 61,915 $ 1,597,790 $ 108,427 $ 3,194,936 $ 1,444,559 $ 40,000 $ 75,000 $ 130,000 $ 60,000 $ 990,000 $ 1,230,000 15,040 31,515 425,378 30,485 991,151 963,326 400 400 1,107 649 10,275 10,159 - - - - 869 $ 55,440 $ 106,915 $ 556,485 $ 91,134 $ 1,992,295 $ 2,203,485 $ (37,666)$ (45,000)$ 1,041,305 $ 17,293 $ 1,202,641 $ (758,926) $ - $ - $ - $ - $ 6,838 $ 92,185 - - - - 150,724 10,7C0 - - - 33,351 22,651 - - - - (10,700) - $ 10,700 $ - $ - $ - $ 29,489 $ 265,560 $ (26,966)$ (45,000)$ 1,041,305 $ 17,293 $ 1,232,130 $ (493,366) 71,387 387,102 511,616 364,316 3,681,069 3,528,629 62,325 - - (48,591) 645,806 $ 106,746 $ 342,102 $ 1,552,921 $ 381,609 $ 4,864,608 $ 3,681,069 -77- CAPITAL PROJECTS FUNDS Tax Increment #1 - to account for revenues and expenditures in tax increment financing district #1. Tax Increment #2 - to account for revenues and expenditures in tax increment financing district #2. Tax Increment #3 - to account for revenues and expenditures in tax increment financing district #3. Tax Increment #4 - to account for revenues and expenditures in tax increment financing district #4. Capital Acquisition 1988 -A - to account for capital projects financed with general obligation capital outlay bond issue of 1988A. Capital Acquisition 1990 -A - to account for capital projects financed with general obligation capital outlay bond issue of 1990A. 1984 Construction - to account for construction of public improvements financed with the 1984A construction bond issue. 1989A Construction - to account for construction of public improvements financed with the 1989A construction bond issue. 1990 Construction - to account for construction of public improvements begun in 1990. Permanent Improvement - to account for capital projects in the planning and analysis process or capital projects not large enough to be financed with bond issues. MSA Construction - to account for capital projects financed with Municipal State Aid. ASSETS CITY OF STILLWATER, MINNESOTA CAPITAL PROJECTS FUNDS COMBINING BALANCE SHEET December 31, 1990 (With comparative totals for December 31, 1989) Tax Tax Tax Increment Tax Increment Capital Capital Increment District #1 Increment District Acquisition Acquisition District Scattered District #2 of 1988 -A of 1990 -A #3 Sites #4 Cash and investments $ 85,184 $ 13,262 $ 998,028 $ 21,726 $ 321,582 $ 125,363 Accrued interest receivable 646, 2,759 2,332 290 2,149 - Accounts receivable - - 2,395 16,200 Loan receivable - - - - - Taxes receivable: Delinquent 3,889 - - - 37,312 452 Due from county 7,565 - - - 154,760 120,426 Special assessments receiv- able: Delinquent Deferred Total assets $ 97,284$ 16,021 $ 1,000,360 $ 24,411 $ 532,003 $ 246,241 LIABILITIES AND FUND BALANCE Liabilities: Accounts payable $ - $ - $ 2,000 $ - $ 126,418 $ - Contracts payable - - 93,510 - Due to other governments - - 65,588 10,325 Advance fro© other funds - - - - - - Deposits payable - - - 700 - Deferred revenue 3,889 - - 38,212 452 Total liabilities $ 3,889 $ - $ 2,000 $ - $ 324,428 $ 10,777 Fund balance (deficit): Reserved $ 93,395 $ 16,021 $ 998,360 $ 24,411 $ 207,575 $ 235,464 Total liabilities and fund balance (deficit) $ 97,284, $ 16,021 $ 1,000,360 $ 24,411 $ 532,003 $ 246,241 -78- MSA 1984 -A 1989 -A 1990 Permanent Construc- Construc- Construc- Construc- Total Improvement tion tion tion tion 1990 1989 $ 3,443 $ 10,586 $ 1,444 $ 79,519 $ 157,732 $ 1,817,869 $ 1,430,920 - 129 213 3,450 779 12,747 11,883 8,856 - - - - 27,451 22,798 - - 268,845 - - 268,845 - - - - - - 41,653 238,994 20,618 - - - - 303,369 20,531 21,192 - - - 21,192 120,755 212,379 - - - - 212,379 85,542 $ 266,488 $ 10,715 $ 270,502 $ 82,969 $ 158,511 $ 2,705,505 $ 1,931,423 $ 17,455 $ - $ 421 $ 4,379 $ 2,253 $ 152,926 $ 136,318 29,664 - - 164,391 3,048 290,613 589,005 - - - - - 75,913 36,053 94,798 - 234,069 - - 328,867 199,374 4,500 - - - - 5,200 3,000 233,571 - - - - 276,124 446,191 $ 379,988 $ 234,490 $ 168,770 $ 5,301 $ 1,129,643 $ 1,409,941 $ (113,500)$ 10,715 $ 36,012 $ (85,801)$ 153,210 $ 1,575,862 $ 521,482 $ 26o,4b6 $ 1o,715 $ 270,502 $ 82,969 $ 158,511 $ 2,705,505 $ 1,931,423 -79- CAPITAL PROJECTS FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE II Year Ended December 31, 1990 (With comparative totals for the year ended December 31, 1989) Tax Tax Increment Tax II Increment Capital Capital Increment District #1 Increment District Acquisition Acquisition District Scattered District #2 of 1988 -A 1990 -A #3 Sites #4 I Revenues: Property taxes: Current $ 41,554 $ - $ - $ - $ 502,405 $ 103,865 Delinquent - - - - 89,059 91,120 I Total general property taxes $ 41,554 $ - $ - $ - $ 591,464 $ 194,985 Direct charges to developers $ 566 $ - $ - $ - $ - $ - II Intergovernmental: State: State aid $ - $ - $ - $ - $ - $ - Homestead credit - - - - 242 - II Total intergovernmental $ - $ - $ - $ - $ 242 $ - Special assessments: Current $ - $ - $ - $ - $ - $ 14,429 Prepayments - - - - - Delinquent - - - - - 99,563 , Total special assessments $ - $ - $ - $ - $ - $ 113,992 II Interest $ 1,100 $ 16,021 $ 13,546 $ 1,687 $ 12,480 $ 8,949 Refunds and reimbursements - - - 2,395 30,800 - Total revenue $ 43,220 $ 16,021 $ 13,546 $ 4,082 $ 634,986 $ 317,926 Expenditures: Construction /acquisition costs $, 359 $ - $ 24,090 $ 2,342 $ 565,711 $ - Revenues over (under) expenditures $, 42,861 $ 16,021 $ (10,544)$ 1,740 $ 69,275 $ 317,926 Other financing sources (uses): II Bond proceeds $, - $ - $ 1,330,000 $ - $ - $ Operating transfers in: General Fund - - - - - _ II Capital Projects Fund - - - - - Operating transfers out: General Fund - - (163,475) Special Revenue Fund - - (61,214) II Capital Projects Fund - (216,990) (24,817) - - Ent_erpriee Fend - - (71,590) - - Total other sources (uses) $ - $ (216,990)$ 1,008,904 $ - $ - $ - Revenues and other sources over II (under) expenditures and other uses $ 42,861 $ (200,969)$ 998,360 $ 1,740 $ 69,275 $ 317,926 Fund balance (deficit), January 1 1,944 216,990 - 22,671 138,300 (82,462) Residual equity transfer from II debt service 48,591 - - - - CITY OF STILLWATER, MINNESOTA Fund balance (deficit), December 31 $ 93,396 $ 16,021 $ 998,360 $ 24,411 $ 207,575 $ 235,464 -80- ' 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 MSA 1984 -A 1989 -A 1990 Permanent Construc- Construc- Construc- Construc- Total Improvement tion tion tion tion 1990 1989 $ - $ - $ - $ - $ - $ 647,824 $ 330,662 - - - - - 180,179 4,407 $ - $ - $ - $ - $ - $ 828,003 $ 335,069 S -$ -$ -$ $ -$ 566$ - $ 16,787 $ - $ - $ $ 240,262 $ 257,049 $ 108,574 - - - - - 242 1,203 $ 16,787 $ - $ - $ - $ 240,262 $ 257,291 $ 109,777 $ 14,352 $ - $ - $ - $ - $ 28,781 $ 3,570 1,097 - - - - 1,097 170,464 - - - - - 99,563 207 $ 15,449 $ - $ - $ - $ - $ 129,441 $ 174,241 $ 263 $ 753 $ 1,237 $ 20,040 $ 4,522 $ 80,598 $ 139,675 6,545 - - - - 39,740 16,623 $ 39,044 $ 753 $ 1,237 $ 20,040 $ 244,784 $ 1,335,639 $ 775,385 $ 185,246 $ $ (146,202)$ $ $ 241,807 $ - $ 82,661 $ 411,587 $ 91,574 $ 1,363,570 $ 1,881,845 753 $ (81,424)$ (391,547)$ 153,210 $ (27,931)$(1,106,460) $ - $ - $ - $ - $ 1,330,000 $ 1,689,365 - - - - - - 6,491 241,807 - - - - 241,807 41,789 - - - - - (163,475) (470,151) - - - - - (61,214) (63,151) - - - - - (241,807) (41,789) - - - - - (71,590) (30,179) - $ - $ - $ - $ 1,033,721 $ 1,132,375 $ 95,605 $ 753 $ (81,424)$ (391,547)$ 153,210 $ 1,005,790 $ 25,915 (209,105) 9,962 117,436 305,746 - 521,482 1,141,373 - - - - 48,591 (645,806) $ (113,500)$ 10,715 $ 36,012 $ (85,801)$ 153,210 $ 1,575,863 $ 521,482 -81- 1 CITY OF STILLWATER, MINNESOTA CAPITAL PROJECTS FUNDS CONSTRUCTION AND ACQUISITION COSTS II December 31, 1990 Contractors Engineers Tax Increment District #1 Scattered sites: McGuires $ - $ - II Old Bayport Depot - - North End Development - - Yacht Club - - II L.I. 257 - Downtown Plan 7,508 294,337 Mulberry Point - - North Main Street - Parad,eau - 202 Downtown Study - - II Lind parking lot 5,9 920 INC Star - - R.R. /CUB land - - I Con Spec /Curve Crest - - Miscellaneous - - Total Scattered sites $ 13,445 $ 295,459 II Tax Increment District #2 _ Nelle $ - $ 359 Tax Increment District #3 -- Arkell: II Phase I $ - $ - Phase II & III - 587 Total Tax Increment District #3 $ - $ 587 II Tax Increment District #4 + Woodland Lakes $ - $ - Permanent Improvement: II Gardens/Bruggeman $ - 329 Washington Co. Courthouse - - City Garage - Runk property - - II Project #264 - Poplar Street - 4,312 Project #272 - Hudson Street - 350 Nursing Home Project - - Sherburne & Williams - 51,,6079 II Project #261 - McKusick /Owens /Neal - 92 Project #256 - Cottage Lift Station 78,015 24,497 Con /Spec - 1,068 Washington Co. Parking Ramp - 1,346 II Benson Annexation - 1,120 Pavement Management Study - 24,817 Future sewer service - - II Finneman Annexation - - St. Croix River Dike - - Oak Glen 5th Addition - - II Rose Floral - - River Heights Plaza - - Ogren - - -82- II 1 1 1 II $ - $ - $ - $ - $ - $ 7,117 $ 7,117 420 420 - - - - - 100,205 100,205 t - - _ _ - 148 148 6,944 12,416 321,205 97,740 418,945 - - - - - 2,500 2,500 4,044 10,727 - 189,192 204,165 64,485 268,650 II - - _ _ - 91,302 91,302 94 10,417 17,368 97,880 115,248 20 - - - 20 553,882 553,902 1,920 _ _ 1,920 1,920 10,221 10,221 10,221 7,779 3,033 - - 10,812 9,841 20,653 II $ 18,881 $ 48,734 $ - $ 189,192 $ 565,711 $ 1,025,520 $ 1,591,231 $ - $ - $ - $ - $ 359 $ 99,410 $ 99,769 II $ - $ 373 $ - $ - $ 373 $ 528,261 $ 528,634 1,362 20 - - 1,969 534,876 536,845 1 $ 1,362 $ 393 $ - $ - $ 2,342 $ 1,063,137 $ 1,065,479 $ - $ - $ - $ - $ - $ 272,426 $ 272,426 $ - $ - $ - $ 329 $ - $ 329 1,769 - - - 1,769 - 1,769 - 1,419 - - 1,419 82,648 84,067 I 100 80 279 _ _ 4,691 _ 4,691 430 430 400 - - - 400 - 400 II _ 1,353 _ _ 7,045 - 1,079 9,273 16,318 85 1,164 1,239 3,365 - - 107,116 9,661 116,777 - - - - 1,068 411 1,479 II - _ _ - 1,346 - 1,346 649 1,769 442 2,211 - - - - 24,817 8,893 33,710 I _ _ _ _ _ 38,574 61 38,574 61 - - - - - 1,635 1,635 II _ _ _ _ _ 1,742 1,742 269 269 - - - - - 1,850 1,850 - - - - - 941 941 1 1 1 Legal Fiscal And Other Capital Land Expended Easements Costs Outlay Acquisition 1990 Prior Total -83- (continued) 1 CITY OF STILLWATER, MINNESOTA CAPITAL PROJECTS FUNDS (CONTINUED) CONSTRUCTION AND ACQUISITION COSTS December 31, 1990 Contractors Engineers Permanent Improvement: (continued) Granquist property $ - $ - Project No. 209, Neal Avenue - - Project No. 220, 1985 Street Improvement - - Project No. 224, Penthouse Acres - Project No. 226, Industrial Watershed Project No. 228, North Center Street - - Project No. 232, Brick Pond - - Project No. 234, City garage parking lot - - Project No. 238 Dock Cafe - - Project No. 241, Interlachen 2 - Project No. 259, Lowell.Riverview lot - - Project No. 262, Krogstad Annexation Lily Lake Water Project - - Culligan Water - - Ernst /Washington Avenue DNR boat ramp - - Ernst /Forest Ridge Addition - - Project No. 248 - - North and South Hill sewer Project No. 249, Everett and Orleans Drainage - - Project No. 250 - - Surplus Outlet - - Prime site - - Washington Co /HRA parking ramp - - Project No. 271 - Curve Crest 25,763 5,401 Orleans Terrace - Washington Co. HRA - 588 Miscellaneous - - Total Permanent Improvement Account $ 103,778 $ 70,599 1984 -A Improvement: Project No. 184 - Oak Glen $ - $ 1989 -A Construction: Project No. 251 - Greeley & Forest Hills $ 183,054 $ 26,416 Project No. 253 - South 3rd & Orleans 164,391 75 Project No. 255 - Sunset Ridge - 1,219 $ 347,445 $ 27,710 1 1990 Construction: Project No. 254 - Mulberry Street $ 62,960 $ 25,124 -84- 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 Legal Fiscal And Other Capital Land Expended Easements Costs Outlay Acquisition 1990 Prior Total - $ - $ - $ - $ - $ 1,212 $ 1,212 - - - - - 2,278 2,278 - - - - - 18,623 18,623 - - - - - 4,915 4,915 - - - - - 3,334 3,334 - - - - - 2,722 2,722 - - - - - 19,198 19,198 - - - - - 20,392 20,392 - - - - - 1,486 1,486 - - - - - 15,775 15,775 - - - - - 9,010 9,010 - - - - - 1,783 1,783 - - - - - 5,499 5,499 - - - - - 411 411 - - - - - 12 12 - - - - - 700 700 - - - - - 260 260 - - - - - 27,009 27,009 - - - - - 3,807 3,807 - - - - - 3,703 3,703 - - - - - 40,084 40,084 - - - - - 101 101 - - - - - 766 766 - - - - - 442 442 80 136 - - 31,380 728 32,108 - - - - 588 - 588 - - - - - 754 754 $ 4,31 $ 6,552 $ - $ - $ 185,246 $ 341,489 $ 526,735 $ 82,637 $ 24 $ - $ - $ 82,661 $ 4,580,862 $ 4,663,523 $ 15,665 $ 17,092 $ - $ - $ 242,227 $ 731,908 $ 974,135 - - - - 164,466 29,646 194,112 10 3,665 - - 4,894 165,567 170,461 $ 15,675 $ 20,757 $ - $ - $ 411,587 $ 927,121 $ 1,338,708 $ 180 $ 3,310 $ - $ - $ 91,574 $ - $ 91,574 -85- 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 ENTERPRISE FUNDS Sanitary Sewer Fund - to account for the provision of sanitary sewer service to the residents and commercial and industrial establishments of the City. Waterworks Fund - to account for the provision of water service to the residents and commercial and industrial establishments of the City. Solid Waste - to account for the provision of solid waste to the residents and commercial and industrial establishments of the City. Parking System Fund - to account for the operation of parking facilities located within the downtown of the City. Lily Lake Park Fund - to account for the operation of the Lily Lake complex, which is comprised of an arena, ballfields and a beach. CITY OF STILLWATER, MINNESOTA ENTERPRISE FUNDS COMBINING BALANCE SHEET December 31, 1990 (With comparative totals for December 31, 1989) ASSETS Current assets: Cash and investments Accrued interest receivable Accounts receivable Accounts receivable certified to County Notes Receivable Due from county Due from other funds Inventory Prepaid expenses Taxes receivable Deferred Tax forfeit Total current assets Fixed assets Less accumulated depreciation Net fixed assets Other assets: Escrow deposit Notes receivable certified to county - special deferred Notes receivable, long-term Due from other governments, Total assets LIABILITIES AND FUND EQUITY Current liabilities: Outstanding checks in excess of cash balance Accounts payable Contracts payable Salaries payable Due to other governments Due to other funds Unclaimed property Accrued interest payable Bonds payable, current Compensated absences Total current liabilities Noncurrent liabilities: Bonds payable Deferred revenue Compensated absences payable Total noncurrent liabilities Total liabilities Fund equity: Contributed capital, net Retained earnings: Reserved Unreserved Total fund equity Total liabilities t'nd fund equity -86- 1 1 Sanitary Solid Waste 1 Sewer Revenue Collection Fund Fund $ 195,059 $ 8,054 2,337 - 188,667 219,534 - 36,137 71,024 - 1,578 6,708 - 778 - $ 721,822 $ 8,054 $ 4,646,867 $ - (1,004,817) - $ 3,642,050 $ $ - $ 1 227,657 - $ 4,591,529 $ 8,054 1 $ 1 13,122 7,351 2,236 - 2,569 5,959 - 3,663 - 5,000 50,000 - 1,686 - 1 $ 84,235 $ 7,351 $ 50,000 $ - - 1 $ 50,000 $ - $ 134,235 $ 7,351 $ 3,133,324 $ - 1,323,970 703 $ 4,457,294 $ 703 $ 4,591,529 $ 8,054 1 Parking System Fund $ 124,182 $ 1,478 827 2,693 129,180 $ 133,125 $ (55,373) 77,752 $ $ 206,932 $ $ - $ 103 7,280 7,383 $ - $ 510 510 $ 7,893 $ 1,509 $ Lily Lake Waterworks Park Fund Fund 121,432 $ 360,693 $ 809,420 $ 783,509 1,578 7,400 12,793 9,283 - 75,771 264,438 246,077 - - 219,534 176,999 - 6,150 6,150 5,373 - - 36,964 6,173 - 4,458 4,458 2,920 - 56,550 56,550 47,333 - 11,462 85,179 83,221 - - 1,578 - - - 6,708 - - - 778 - 123,010 $ 522,484 $ 1,504,550 $ 1,360,888 838,490 $ 5,269,361 $10,887,843 $10,666,347 (452,607) (1,478,963) (2,991,760) (2,769,570) 385,883 $ 3,790,398 $ 7,896,083 $ 7,896,777 508,893 $ 4,360,201 $ 9,675,609 $ 9,493,178 - $ 10,735 1,163 197,530 196,067 199,039 $ 493,179 206,932 $ 508,893 3,816 15,714 $ - $ 15,714 $ 37,745 $ 37,745 $ 39,126 17,414 $ 19,166 542 2,835 40,000 1,516 81,473 $ - $ 90,000 $ 297,112 $ 2,721,654 119,250 1,283,705 $ 4,124,609 $ 4,360,201 2,988 2,988 2,950 6,586 6,586 7,249 - 227,657 186,188 64,119 154,119 235,592 17,414 $ 50,477 2,236 2,569 7,664 3,663 5,000 2,835 90,000 14,298 196,156 $ 140,000 $ 510 64,119 $ 204,629 $ $ 400,785 $ $ 6,153,599 119,250 3,001,975 $ 9,274,824 $ 9,675,609 -87- Totals 1990 1989 37,666 3,129 6,650 2,920 5,000 3,686 90,000 16,323 165,374 230,000 1,080 59,666 290,746 456,120 $ 6,139,555 119,250 2,778,253 $ 9,037,058 $ 9,493,178 ENTERPRISE FUNDS COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS Year Ended December 31, 1990 (With comparative totals for the year ended December 31, 1989) Operating revenues: Charges for services Other Operating expenses: Personnel services Repairs and supplies Contractual services Utilities Truck expense Professional services Parking lot leases Administration charges Depreciation: On purchased assets On contributed assets Servicing customer installations Office supplies and postage Engineering services Miscellaneous CITY OF STILLWATER, MINNESOTA Operating income (loss) Nonoperating revenues (expenses): Interest income Sale of scrap or other materials Water and sewer availability charges Interest expense Paying agent fees Gain (loss) on disposal of fixed assets Special assessments Property taxes Miscellaneous Net income (loss) Other increases (decreases); Transfers in (out): Capital Projects Fund Debt Service Fund General Fund Special Revenue Fund Credit arising from transfer of depreciation to contributions from other funds Total other increases (decreases) Net increase (decrease) in retained earnings Retained earnings, January 1 Retained earnings, December 31 -88- Sanitary Sewer Fund $ 1,191,974 $ 1,191,974 $ 70,466 112,481 836,124 28,889 30,990 18,201 73,745 1,682 391 2,377 $ 1,175,346 $ 16,628 $ 36,045 365 (7,650) (185) 8,566 60,371 3,604 $ 101,116 $ $ 117,744 $ $ 53,238 $ (17,151) 73,745 $ 756,046 480 $ 756,526 Solid Waste Collection Fund $ 109,832 $ $ 227,576 $ 1,096,394 $ 1,323,970 $ 902 819,649 1,181 $ 821,732 $ (65,206) (65,206) 12,500 54,690 67,190 1,984 (1,281) 703 Parking System Fund $ 48,640 $ 48,640 $ 27,963 4,923 1,503 $ $ 5,860 6,946 5,115 8,535 - 29,503 169 176 346 629 53,454 $ (4,814) $ 8,582 939 2,117 11,638 $ 6,824 $ - $ (5,500) $ (5,500) $ $ 1,324 $ 196,206 $ 197,530 $ Lily Lake Park Fund $ 115,393 32,498 $ 147,891 $ 71,600 34,951 15,537 42,433 3,222 205,957 $ (58,066) $ 9,167 - 29,503 Waterworks Fund $ $ $ 9,167 $ (48,899) $ 18,352 $ 476,344 20,360 496,704 253,927 112,100 19,401 41,971 10,957 4,735 Totals 1990 1989 $ 2,588,397 53,338 $ 2,641,735 $ 423,956 265,357 1,692,214 113,293 10,957 4,735 5,860 37,936 $ 2,459,706 32,135 $ 2,491,841 $ 386,782 101,914 1,433,835 110,707 4,113 3,000 3,685 36,477 44,604 76,455 71,208 67,533 170,781 164,728 25,656 25,656 32,732 9,101 12,309 13,745 10,548 11,285 1,304 3,550 9,778 9,916 604,083 $ 2,860,572 $ 2,374,146 (107,379) $ (218,837) $ 117,695 33,611 5,639 (7,824) (6,009) 8,311 33,728 $ (73,651) $ 67,533 47,855 $ 67,533 $ 286,910 (1,044) $ (6,118) $ 223,722 197,111 1,409,073 2,897,503 196,067 $ 1,402,955 $ 3,121,225 -89- 87,405 85,535 5,639 5,056 365 5,996 (15,474) (19,212) (185) (160) (5,070) (9,596) 8,566 60,371 14,032 17,271 155,649 $ 84,890 (63,188) $ 202,585 - $ 71,590 $ 30,179 - (22,651) (22,651) - 12,500 12,040 - 54,690 7,065 170,781 164,728 $ 191,361 $ 393,946 2,503,557 $ 2,897,503 CASH FLOWS FROM OPERATING ACTIVITIES Operating income (loss) $ Adjustments to reconcile Operating income (loss) to net cash provided by operating activities: Depreciation Change in assets and liabilities: (Increase) decrease in accounts and notes receivable (Increase) in inventory (Increase) decrease in accounts payable and accrued expenses Increase (decrease) in compensated absences Other prepaids, deferrals and accruals, net Net cash provided by (used in) operating activities $ CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES Cash transfer to other funds $ Cash transfer from other funds Increase in outstanding checks in excess of bank balance Cash receipts from miscellaneous income Net cash provided by (used in) noncapital financing activities $ CASH FLOWS FROM CAPITAL & RELATED FINANCING ACTIVITIES Cash transfer from other funds $ Acquisition and construction of capital assets Proceeds from taxes, assessments, connections Principal paid on general obligation bonds Interest and fees paid on general obligation bonds Net decrease in escrow deposit Proceeds from sale of capital assets Capital contributed by property owners Net cash provided by (used for) capital and related financing activities CASH FLOWS FROM INVESTING ACTIVITIES Proceeds from sale and maturities of investments Purchase of investments Interest received on investments Net cash provided by (used in) investing activities $ ENTERPRISE FUNDS COMBINING STATEMENT OF CASH FLOWS Year Ended December 31, 1990 (With comparative totals for the year ended December 31, 1989) Net Increase (decrease) it cash and cash equivalents $ Cash and cash equivalents: Beginning Ending Cash and cash equivalents Investments Cash and investments CITY OF STILLWATER, MINNESOTA Sanitary Sewer Fund 16,628 91,946 (70,339) 14,353 (10,193) (72,509) (30,114) $ (17,151) $ 3,604 (13,547) $ 53,238 $ (159,155) 59,159 (50,000) (7,835) 159,155 $ 54,562 $ $ 280,703 $ (277,850) 34,934 37,787 $ 48,688 $ 33,887 82,575 $ 82,575 $ 112,484 195,059 $ Solid Waste Collection Fund $ (65,206) 3,793 (61,413) 67,190 67,190 551 (3,434) (2,883) 2,894 517 3,411 3,411 4,643 8,054 $ $ (4,814) $ (58,066) $ (107,379) $ (218,837) $ Parking System Fund 5,115 (495) 7,280 (317) (5,500) $ 2,117 $ (3,383) $ 5,820 $ 5,820 $ $ 171,597 $ (160,815) 8,349 $ 19,131 $ $ 28,337 $ 24,214 $ 52,551 $ $ 52,551 $ 71,631 Lily Lake Waterworks Park Fund Fund Total 38,038 (7,953) 1,177 $ 6,769 $ (26,804) $ - $ - $ 18,352 $ - (18,352) - 14,081 - 13,950 46,623 $ 19,819 $ 31,570 51,389 $ 112,137 9,291 (9,217) 247,236 (61,048) (9,217) 5,714 15,412 4,453 2,717 (1,878) (74,704) 13,121 $ (98,441) - $ (22,651) - 67,190 - $ (80,369) (40,000) (8,675) 1,381 399 25,715 -91- 14,081 19,671 - $ 28,031 $ 78,291 71,590 (257,876) 59,159 (90,000) (16,510) 1,381 6,219 184,870 - $ (101,549) $ (41,167) 247,082 $ 205,278 $ 905,211 (209,673) (176,278) (828,050) 9,214 31,397 83,894 60,397 $ 161,055 - $ 99,738 550 90,738 550 $ 190,476 51,389 $ 550 $ 190,476 70,043 360,143 618,944 $ 124,182 $ 121,432 $ 360,693 $ 809,420 ASSETS Current assets: Cash and investments Accrued interest receivable Accounts receivable Accounts receivable certified to county Due from county Prepaid expenses Taxes receivable Deferred Tax forfiet Total current assets Fixed Assets Less accumulated depreciation Net fixed assets Other assets: Due from other government Total assets LIABILITIES AND FUND EQUITY Current liabilities: Accounts payable Contacts payable Salaries payable Due to other governments Due to other funds Unclaimed property Bonds payable, current Compensated absences Total current liabilities Noncurrent liabilities: Bonds payable Deferred revenue Total noncurrent liabilities Fund equity: Contributed capital, net Retained earnings: Unreserved Total fund equity CITY OF STILLWATER, MINNESOTA ENTERPRISE FUND - SANITARY SEWER REVENUE FUND COMPARATIVE BALANCE SHEETS December 31, 1990 and 1989 Total liabilities and fund equity -92- $ 195,059 2,337 188,667 219,534 36,137 71,024 1,578 6,708 778 $ 721,822 $ 4,646,867 1,004,817 $ 3,642,050 $ 227,657 $ 4,591,529 $ 13,122 $ 2,236 2,569 5,959 3,663 5,000 50,000 1,686 1990 1989 $ 149,224 1,226 160,863 176,999 6,173 69,948 $ 564,433 $ 4,487,712 912,871 $ 3,574,841 $ 186,188 $ 4,325,462 3,045 1,826 5,405 2,920 5,000 50,000 11,879 84,235 $ 80,075 50,000 $ 100,000 - 1,080 50,000 $ 101,080 $ 3,133,324 $ 3,047,913 1,323,970 1,096,394 $ 4,457,294 $ 4,144,307 $ 4,591,529 $ 4,325,462 Operating revenues: Charges for services Operating expenses: Personnel services Repairs Supplies Contractual services Utilities Administrative charges Depreciation: On purchased assets On contributed assets Office supplies and postage Engineering services Miscellaneous Operating income (loss) Nonoperating revenues (expenses): Interest income Sewer availability charges Water availability charges Sewer connection charges Interest expense Paying agent fees Special assessments Property taxes Miscellaneous Net income (loss) Other increases (decreases): Transfer in: Capital Projects Fund Transfer out: Debt Service Fund Credit arising from transfer of depreciation to contributions from other funds CITY OF STILLWATER, MINNESOTA ENTERPRISE FUND - SANITARY SEWER COMPARATIVE STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS Years Ended December 31, 1990 and 1989 Net increase (decrease) in retained earnings Retained earnings, January 1 Retained earnings, December 31 -93- $ 1,191,974 $ 1,092,532 $ 70,466 $ 73,050 105,221 23,535 7,260 6,631 836,124 691,801 28,889 27,256 30,990 29,798 18,201 17,981 73,745 71,267 1,682 1,543 391 150 2,377 5,475 $ 1,175,346 $ 948,487 $ 16,628 $ 144,045 1990 36,045 $ (4,542) (93) 5,000 (7,650) (185) 8,566 60,371 3,604 101,116 $ 117,744 $ 73,745 $ 109,832 $ 227,576 1,096,394 $ 1,323,970 1989 28,792 643 153 5,200 (10,200) (160) 170 24,598 168,643 $ 53,238 $ 2,915 (17,151) (17,151) 71,267 $ 57,031 $ 225,674 870,720 $ 1,096,394 ASSETS Current assets: Cash and investments Total assets LIABILITIES AND FUND EQUITY Current liabilities: Accounts payable Fund equity: Retained earnings Unreserved CITY OF STILLWATER, MINNESOTA ENTERPRISE FUND - SOLID WASTE COLLECTION COMPARATIVE BALANCE SHEETS December 31, 1990 and 1989 1990 1989 $ 8,054 $ 2,277 $ 8,054 $ 2,277 $ 7,351 $ 3,558 703 $ (1,281) Total liabilities and fund equity $ 8,054 $ 2,277 Operating revenues: Charges for services Sale of batteries Operating expenses: CITY OF STILLWATER, MINNESOTA ENTERPRISE FUND - SOLID WASTE COLLECTION COMPARATIVE STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS Years Ended December 31, 1990 and 1989 1990 1989 $ 756,046 $ 668,512 480 756,526 $ 668,512 Supplies $ 902 $ 898 Contractual services 819,649 688,325 Office supplies and postage 1,181 1,692 Other - 99 $ 821,732 $ 691,014 Net (loss) $ ( 65,206) $ (22,502) Other increases: Transfer in: General Fund $ 12,500 $ 12,040 Special Revenue Fund 54,690 7,065 Net increase (decrease) in retained earnings $ 1,984 $ (3,397) Retained earnings, January 1 (1,281) 2,116 Retained earnings (deficit), December 31 $ 703 $ (1,281) ASSETS Current assets: Cash and investments Accrued interest receivable Prepaid expenses Due from county Total current assets Fixed assets Less accumulated depreciation Net fixed assets Total assets LIABILITIES AND FUND EQUITY Current liabilities: Accounts payable Salaries Payable Compensated absences payable Deferred revenue - Total current liabilities Fund equity: Contributed Capital, net Retained earnings: Unreserved Total fund equity CITY OF STILLWATER, MINNESOTA ENTERPRISE FUND — PARKING SYSTEM COMPARATIVE BALANCE SHEETS December 31, 1990 and 1989 Total liabilities and fund equity 1990 $ 124,182 $ 1,478 2,693 827 106,627 1,245 2,693 129,180 $ 110,565 133,125 $ 152,602 (55,373) (64,854) 77,752 $ 87,748 206,932 $ 198,313 103 $ 7,280 510 1989 598 $ 7,893 $ 598 $ 1,509 $ 1,509 197,530 196,206 $ 199,039 $ 197,715 $ 206,932 $ 198,313 CITY OF STILLWATER, MINNESOTA ENTERPRISE FUND - PARKING SYSTEM COMPARATIVE STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS Years Ended December 31, 1990 and 1989 1990 1989 Operating revenues: Parking meters: Reed lot $ - $ 2,285 Maple Island lot 104 2,002 Auditorium lot 26 1,650 River lot - 537 South Main Street lot 503 9,319 On street parking 1,328 11,559 $ 1,961 $ 27,352 Parking tickets $ 15,809 Parking fines 14,442 Parking permits 10,928 2,507 Parking lot rental 5,500 $ 48,640 $ 29,859 Operating expenses: Personnel services $ 27,963 $ 598 Supplies and meter repair 4,923 1,505 Contract services 1,503 Parking lot leases, Burlington Northern 5,860 3,685 Adminstrative charges 6,946 6,679 Depreciation: On purchased assets 5,115 5,427 On contributed assets - 251 Miscellaneous 1,144 140 $ 53,454 $ 18,285 Operating income $ (4,814) $ 11,574 Nonoperating revenues: Interest $ 8,582 $ 8,224 Gain on sale of property 939 - Refunds and reimbursements 2,117 - Net income $ 6,824 $ 19,798 Cther increases (decreases): Transfer out: Debt Service Fund $ (5,500) $ (5,500) Credit arising from transfer of depreciation to contributions from other funds - 251 $ (5,500) $ (5,249) Net increase in retained earnings $ 1,324 $ 14,549 Retained earnings, January 1 196,206 181,657 Retained earnings, December 31 $ 197,530 $ 196,206 -97- ASSETS Fixed Assets Less accumulated depreciation Net fixed assets LIABILITIES AND FUND EQUITY Total current liabilities Fund equity: Contributed capital, net Retained earnings Unreserved CITY OF STILLWATER, MINNESOTA ENTERPRISE FUND - LILY LAKE PARK COMPARATIVE BALANCE SHEETS December 31, 1990 and 1989 1990 1989 Current assets: Cash and investments $ 121,432 $ 139,022 Accrued interest receivable 1,578 1,625 Total current assets $ 123,010 $ 140,647 Total fund equity Total liabilities and fund equity $ 838,490 $ 820,413 (452,607) (414,799) $ 385,883 $ 405,614 Total assets $ 508,893 $ 546,261 Current liabilities: Accounts payable $ 10,735 $ 17,900 Salaries payable - 705 Due to other governments 1,163 1,245 Compensated absences 3,816 2,639 $ 15,714 $ 22,489 297,112 $ 326,661 196,067 197,111 493,179 $ 523,772 508,893 $ 546,261 Net (loss) Other increases: Transfers in: Capital Projects Fund Credit arising from transfer of depreciation to contributions from other funds Net increase in retained earnings Retained earnings, January 1 Retained earnings, December 31 CITY OF STILLWATER, MINNESOTA ENTERPRISE FUND - LILY LAKE PARK COMPARATIVE STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS Years Ended December 31, 1990 and 1989 1990 1989 Operating revenues: Arena rental $ 105,107 $ 104,211 Admissions 6,688 6,750 Concessions 31,044 27,565 Skating lessons 1,110 630 Field rental 2,488 2,222 Other 1,454 953 $ 147,891 $ 142,331 Operating expenses: Personnel services $ 71,600 $ 76,568 Equipment repair 8,856 3,172 Supplies 26,095 24,031 Contractual services 15,537 16,269 Utilities 42,433 36,911 Depreciation: On purchased assets 8,535 8,811 On contributed assets 29,503 30,158 Office supplies and postage 176 63 Engineering services - 1,154 Miscellaneous 3,222 1,285 -99- $ 205,957 $ 198,422 Operating (loss) $ ( 58,066) $ (56,091) Nonoperating revenues: Donations $ - $ 10,000 Interest 9,167 10,737 $ (48,899) $ (35,354) $ 18,352 $ 27,264 29,503 30,158 $ 47,855 $ 57,422 $ (1,044) $ 22,068 197,111 175,043 $ 196,067 $ 197,111 ASSETS Current Assets Cash Investments, at cost Accrued interest receivable Accounts receivable: Billed Unbi1led Notes receivable Due from other funds Inventory, at cost Prepaid expenses Total current assets Utility Plant in Service Land Equipment Distribution system Less accumulated depreciation Net utility plant in service Other Assets Escrow deposit Notes receivable certified to County: Special deferred Notes receivable, long -term CITY OF STILLWATER, MINNESOTA ENTERPRISE FUND - WATERWORKS FUND COMPARATIVE BALANCE SHEETS December 31, 1990 and 1989 1990 1989 $ 550 $ 550 360,143 389,143 7,400 5,186 25,659 27,256 50,112 57,958 6,150 5,373 4,458 2,920 56,550 47,333 11,462 10,580 $ 522,484 $ 546,299 $ 23,287 220,950 5,025,124 $ 5,269,361 1,478,963 $ 3,790,398 $ 37,745 2,988 6,586 Total other assets $ 47,319 $ 4,360,201 $ 23,287 209,053 4,973,280 $ 5,205,620 1,377,046 $ 3,828,574 $ 39,126 2,950 7,249 $ 49,325 $ 4,424,198 (continued) LIABILITIES AND FUND EQUITY Current Liabilities Outstanding checks in excess of cash balance Accounts payable Due to other governmental units Accrued interest payable Bonds payable, current maturities Accrued vacations Total current liabilities Other Liabilities Bonds payable, net of current maturities Compensated absences payable Total other liabilities Total liabilities Fund Equity Contributions from property owners, net Retained earnings: Reserved for system improvements Unreserved Total fund equity 1990 $ 17,414 $ 3,333 19,166 13,163 542 2,835 3,686 40,000 40,000 1,516 1,805 81,473 $ 61,987 $ 90,000 $ 130,000 64,119 59,666 $ 154,119 $ 189,666 $ 235,592 $ 251,653 $ 2,721,654 119,250 1,283,705 $ 4,124,609 $ 4,360,201 1989 $ 2,763,472 119,250 1,289,823 $ 4,172,545 $ 4,424,198 Operating revenue: Metered water billings Repair charges Installation charges Thawing charges On and off charges CITY OF STILLWATER, MINNESOTA ENTERPRISE FUND - WATERWORKS FUND COMPARATIVE STATEMENTS OF REVENUE, EXPENSES, AND CHANGES IN RETAINED EARNINGS Years Ended December 31, 1990 and 1989 Operating expenses: Operations: Salaries and wages Repairs and supplies Chemicals Electricity Truck expenses Fuel Engineering services Depreciation: On assets purchased On assets contributed Servicing customer installations: Labor, jobbing and equipment Repairs, parts and supplies Hydrants General and administrative: Salaries and wages Employee benefits Insurance and bonds Utilities and telephone Office supplies and postage Audit Other -102- 1990 1989 $ 476,344 $ 526,472 18,335 24,827 1,025 5,600 - 508 1,000 1,200 $ 496,704 $ 558,607 $ 135,851 $ 125,611 107,537 53,446 4,563 6,309 37,863 38,978 7,108 4,113 3,849 3,560 10,548 - 44,604 38,989 67,533 63,052 12,678 17,613 9,140 10,552 3,838 4,567 78,006 72,956 40,070 37,999 19,401 19,827 4,108 4,002 9,101 10,447 4,735 3,000 3,550 2,917 $ 604,083 $ 517,938 Operating income $ (107,379) $ 40,669 (Continued) CITY OF STILLWATER, MINNESOTA ENTERPRISE FUND - WATERWORKS FUND COMPARATIVE STATEMENTS OF REVENUE, EXPENSES, AND CHANGES IN RETAINED EARNINGS (CONTINUED) Years Ended December 31, 1990 and 1989 1990 1989 Nonoperating revenue (expense) Interest income $ 33,611 $ 37,782 Sale of scrap or other materials 5,639 5,056 Interest expense (7,824) (9,012) (Loss) on disposal of fixed assets (6,009) (9,596) Miscellaneous 8,311 7,101 $ 33,728 $ 31,331 Net income $ (73,651) $ 72,000 Other increase: Credit arising from transfer of depreciation to contri- butions from property owners 67,533 63,052 Net increase in retained earnings Retained earnings, January 1 Retained earnings, December 31 $ (6,118) $ 135,052 1,409,073 1,274,021 $ 1,402,955 $ 1,409,073 Deferred Compensation Assets Investments -at market Liabilities Deferred compensation benefits payable By Plan PEBSCO CITY OF STILLWATER, MINNESOTA AGENCY FUNDS COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES Year Ended December 31, 1990 January 1, December 31, 1990 Additions Deductions 1990 $ 268,988 $ 100,190 $ (3,315)$ 365,863 $ 268,988 $ 100,190 $ (3,315)$ 365,863 ICMA $ 73,790 $ 41,659 $ (1,606)$ 113,843 $ 195,198 $ 58,531 $ (1,709)$ 252,020 $ 268,988 $ 100,190 $ (3,315)$ 365,863 Amount Available and Amount to be Provided: Amount available in Debt Service Funds Amount available in General Fund Amount to be provided for retirement of general long -term debt Total available and to be provided General Long -Term Debt Payable: General obligation bonds payable Special assessment debt with government commitment Compensated absences payable Total general long -term debt CITY OF STILLWATER, MINNESOTA SCHEDULE OF GENERAL LONG -TERM DEBT December 31, 1990 and 1989 1990 1989 $ 4,864,608 $ 3,681,069 362,373 343,399 8,750,392 9,573,931 $13,977,373 $13,598,399 $ 5,500,000 $ 4,570,000 8,115,000 8,685,000 362,373 343,399 $13,977,373 $13,598,399 General government: Elections Adminstration and Finance Plant operation Total general government Public safety: Police Fire Civil defense Inspections Total public safety Public works: General Street Library Parks Total public works CITY OF STILLWATER, MINNESOTA SCHEDULE OF GENERAL FIXED ASSETS December 31, 1990 Machinery Buildings Furniture and and and Automotive Land Structures Equipment Equipment Total - $ _ $ 6,600 364,555 $ 6,600 $ 364,555 $ 127,354 $ 7,799 $ 506,308 $ - $ 1,287 $ 124,373 $ 165,368 $ 291,028 143,037 201,901 593,384 938,322 11,205 - 11,205 - - 20,523 24,072 44,595 $ - $ 144,324 $ 358,002 $ 782,824 $ 1,285,150 $ 718,228 $ 10,000 $ 8,147 $ 4,791 $ 741,166 - 56,261 117,236 792,530 966,027 $ 718,228 $ 66,261 $ 125,383 $ 797,321 $ 1,707,193 $ 290 $ 1,046,652 $ 255,545 $ - $ 1,302,487 $ 474,669 $ 158,176 $ 300,418 $ 60,855 $ 994,118 Total general fixed assets $ 1,199,787 $ 1,779,968 $ 1,166,702 $ 1,648,799 $ 5,795,256 11,580 $ 113,322 2,452 7,799 - $ 11,580 121,121 373,607 Total General Government Total Public Safety Public Works General Street CITY OF STILLWATER, MINNESOTA SCHEDULE OF CHANGES IN GENERAL FUND FIXED ASSETS BY FUNCTION December 31, 1990 December January 1, 31, 1990 Additions Deletions Transfers 1990 General Government Elections $ 11,480 $ 100 $ - $ - $ 11,580 Administration and Finance 117,625 16,496 (13,000) - 121,121 Plant Operation 368,015 5,592 - - 373,607 $ 497,120 $ 22,188 $ (13,000)$ - $ 506,308 Public Safety Police $ 223,303 $ 81,824 $ (22,548)$ 8,449 $ 291,028 Fire 935,623 12,225 (203) (9,323) 938,322 Civil Defense - 11,205 - - 11,205 Inspections 42,665 1,930 - - 44,595 $1,201,591 $ 107,184 $ (22,751)$ (874)$1,285,150 $ 567,183 $ 250,483 $ (76,500)$ 940,935 25,092 Total Public Works $1,508,118 $ 275,575 $ (76,500)$ - $1,707,193 Library $1,280,765 $ 21,722 $ - $ - $1,302,487 Parks $ 939,706 $ 54,412 $ - $ - $ 994,118 Total General Fixed Assets $5,427,300 $ 481,081 $ (112,251)$ (874)$5,795,256 - $ 741,166 - 966,027 Sources of funds: Bond proceeds Tax increments Direct charges to developer Refunds and reimburse- ments Interest Uses of funds: Land acquisition Site improvements or preparation costs Installation of pub- lic utilities and improvements Bond payments: Principal Interest Fees Loan program Administrative costs Total uses of funds District balance (deficiency) Transfer from other district Funds remaining (deficient) CITY OF STILLWATER, MINNESOTA SCHEDULE OF SOURCES AND USES OF PUBLIC FUNDS DEVELOPMENT DISTRICT #1, TAX INCREMENT DISTRICT #1, DOWNTOWN AND INDUSTRIAL PARK SCATTERED SITES, A TAX INCREMENT FINANCING DISTRICT Original Budget $ 1,450,000 $ 16,547,500 $ 5,560,000 20,310,000 $ 1,050,000 $ 7,750,000 $ 2,432,000 9,350,000 1,450,000 1,419,555 250,000 1,308,000 7,668,365 DECEMBER 31, 1990 Amended Budget -108- 9,205,264 16,285,700 16,547,500 13,625,728 250,000 9,268,621 Accounted for in Prior Years 694,636 $ 509,877 13,751 22,575 17,419 Total sources of funds $ 7,010,000 $ 36,857,500 $ 1,258,258 $ 215,180 $ 112,024 571,238 1,387,500 125,592 $ 17,259,555 $ 65,051,692 $ 1,024,034 $ $(10,249,555)$(28,194,192)$ 234,224 $ $ (2,58,190)$(18,925,571)$ 234,224 $ Current Year - $ 15,852,864 591,706 19,208,417 30,800 15,777 638,283 $ 34,960,959 206,085 $ 7,328,735 356,626 8,736,614 15,714,462 55,662 543 3,000 Amount Remaining (13,751) (53,375) (33,196) 16,547,500 13,570,066 (543) 250,000 1,258,908 621,916 $ 63,405,742 16,367 $(28,444,783) 9,268,621 16,367 $(19,176,162) Sources of funds: Bond proceeds Tax increments Direct charges to developers Interest Total sources of funds Uses of funds: Installation of public utilities and improve- ments Land acquisition Bond payments: Principal Interest Administrative costs Total uses of funds District balance (deficiency) $ CITY OF STILLWATER, MINNESOTA SCHEDULE OF SOURCES AND USES OF PUBLIC FUNDS DEVELOPMENT DISTRICT #1, TAX INCREMENT DISTRICT #2, NELLE PROJECT A TAX INCREMENT FINANCING DISTRICT DECEMBER 31, 1990 Original Budget Accounted for in Prior Years $ 3,500,000 $ 3,200,000 $ 6,322,080 39,018 115,949 72,989 $ 9,822,080 $ 3,427,956 $ 2,815,000 $ 12,411 $ 500,000 3,500,000 2,822,080 185,000 $ 9,822,080 $ 3,403,292 $ 3,200,000 86,460 104,421 24,664 $ Current Year 566 3,753 Amount Remaining - $ 300,000 57,369 6,225,693 (116,515) (76,742) 61,688 $ 6,332,436 359 $ 2,802,230 - 500,000 - 300,000 - 2,735,620 - 80,579 359 $ 6,418,429 61,329 $ (85,993) Sources of funds: Interest Bond proceeds Tax increments Refunds & reimbursements Total sources of funds Uses of funds: Land acquisition Site improvement or preparation costs Installation of public utilities and improve- ments Bond payments: Principal Interest Administrative costs Total uses of funds, District balance (deficiency) CITY OF STILLWATER, MINNESOTA SCHEDULE OF SOURCES AND USES OF PUBLIC FUNDS DEVELOPMENT DISTRICT #1, TAX INCREMENT DISTRICT #3, ARKELL PROJECT A TAXI INCREMENT FINANCING DISTRICT DECEMBER 31, 1990 Original Budget Accounted for in Current Prior Years Year $ - $ 20,038 $ 1,200,000 1,200,000 2,166,776 225,303 $ 3,366,776 $ 1,445,341 $ $ 574,000 $ 488,000 $ 1,793 535,000 244,282 1,200,000 25,000 966,776 196,880 91,000 47,316 $ 3,366,776 $ 1,003,271 $ $ - $ 442,070 $ Amount Remaining 9,399 $ (29,437) 169,712 2,395 25,000 78,240 828 1,771,761 (2,395) 181,506 $ 1,739,929 - $ 86,000 3,211 (5,004) 290,718 1,150,000 691,656 42,856 107,279 $ 2,256,226 74,227 $ (516,297) Source of funds: Bond proceeds Tax increments Special assessments Interest Uses of funds: Site improvements or preparation costs Bond payments: Principal 4,800,000 Interest 3,827,250 Administrative costs 181,819 District balance (deficiency) Transfer to other district (7,668,365) Funds remaining CITY OF STILLWATER, MINNESOTA SCHEDULE OF SOURCES AND USES OF PUBLIC FUNDS DEVELOPMENT DISTRICT #1, TAX INCREMENT DISTRICT #4 WOODLAND LAKES PROJECT A TAX INCREMENT FINANCING DISTRICT DECEMBER 31, 1990 Original Budget $ 4,800,000 $ 13,495,615 Total sources of funds $18,295,615 $ Accounted for in Prior Years $ 1,818,181 $ 104,743 $ Total uses of funds $10,627,250 $ 104,743 $ Current Year Amount Remaining - $ - $ 4,800,000 22,281 194,985 13,278,349 1,175 113,992 (115,167) 8,949 (8,949) 23,456 $ 317,926 $17,954,233 $ 7,668,365 $ (81,287) $ 317,926 $ 7,431,726 - $ 1,713,438 - 4,800,000 - 3,827,250 181,819 - $10,522,507 - (7,668,365) - $ (81,287) $ 317,926 $ (236,639) Sources of funds: Bond proceeds Tax increments Uses of funds: Land acquisition Site improvements Public utilities Administrative costs CITY OF STILLWATER, MINNESOTA SCHEDULE OF SOURCES & USES OF PUBLIC FUNDS DEVELOPMENT DISTRICT #1, TAX INCREMENT DISTRICT #5 BRICK POND A TAX INCREMENT FINANCING DISTRICT DECEMBER 31, 1990 Total sources of funds Accounted for Original in Prior Current Amount Budget Years Year Remaining $ 616,000 $ - $ - $ 616,000 2,628,976 - - 2,628,976 $3,244,976 $ - $ - $3,244,976 $ 60,000 $ - $ - $ 60,000 300,000 - - 300,000 200,000 - - 200,000 56,000 - - 56,000 Bond Payments: Principal 616,000 - - 616,000 Interest 412,720 - - 412,720 Total uses of funds $1,644,720 $ - $ - $1,644,720 District balance $1,600,256 $ - $ - $1,600,256 Transfer to other district (1,600,256) - - (1,600,256) Funds remaining $ - $ - $ - $ STATISTICAL SECTION Year CITY OF STILLWATER, MINNESOTA GENERAL GOVERNMENT EXPENDITURES BY FUNCTION (1) LAST TEN FISCAL YEARS General Government Public Safety 1981 $ 328,868 $ 785,239 1982 292,204 787,719 1983 332,777 865,449 1984 459,146 1,029,973 1985 614,302 1,187,188 1986 534,867 1,417,729 1987 554,903 1,543,891 1988 615,932 1,583,655 1989 657,540 2,014,604 1990 68d,774 1,946,092 (1) Includes general, special revenue and debt service funds Public Works $ 413,140 444,357 764,720 603,153 649,256 755,237 654,429 803,603 927,859 775,420 Culture and Recreation Other $ 371,517 $ 194,013 320,726 232,067 463,877 200,332 518,915 202,190 453,953 242,608 626,987 29,025 1,479,753 44,990 758,389 52,896 731,595 50,078 839,913 78,866 Debt Service $ 488,921 $ 2,581,698 1,131,926 1,150,825 1,258,248 1,064,847 6,070,508 4,027,604 5,145,748 2,203,485 1,991,426 Total 3,208,999 3,777,980 4,071,625 4,212,154 9,434,353 8,305,570 8,960,223 6,585,161 6,312,491 Year 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 CITY OF STILLWATER, MINNESOTA GENERAL GOVERNMENT REVENUES BY SOURCE (1) LAST TEN FISCAL YEARS Licenses Taxes and Permits $ 687,813 $ 882,977 940,138 1,297,,478 1,460,783 1,621,045 1,920,444 2,040,252 2,365,977 2,690,128 56,638 $ 71,293 111,956 105,592 103,643 104,611 162,795 149,652 138,634 128,786 Fines 30,885 $ 40,955 51,064 94,068 111,119 123,404 126,733 115,187 94,496 129,387 (1) Includes general, special revenue and debt service funds Charges For Intergov- Services ernmental 187,651 $ 1,221,728 93,420 1,232,304 214,764 1,301,298 164,249 1,508,017 143,764 1,554,210 192,991 1,681,381 374,110 1,741,911 257,290 1,770,178 249,466 2,015,693 274,231 1,907,645 (2) Special assessment collections previously recorded in the special assessment fund type have been excluded Special Assessments(2) Interest Miscellaneous Total $ 19,507 $ 18,128 $ 1,337 17,314 22,723 11,641 5,326 41,460 1,182 63,270 — 134,816 1,940,631 190,077 1,010,300 229,641 541,739 335,396 2,047,048 500,328 153,995 $ 2,376,345 95,482 2,435,082 81,215 2,734,799 90,182 28,384 40,665 115,203 88,999 219,219 120,669 3,306,372 3,466,355 3,898,913 6,571,904 5,661,499 5,960,620 7,798,222 CITY OF STILLWATER, MINNESOTA PROPERTY TAX LEVIES AND COLLECTIONS LAST TEN FISCAL YEARS Percent Current of Current Delinquent Total Total Tax Tax Tax Tax Tax Year Levy Collection Collection Collection Collection 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 $ 1,234,616 $ 1,207,504 $ 1,405,817 1,594,284 1,807,956 2,081,528 2,243,896 2,436,160 2,,577,267 2,854,071 3,325,277 1,361,700 1,544,160 1,763,594 2,021,936 2,169,452 2,360,698 2,478,178 2,719,719 3,239,028 97.8 $ 20,390 $ 1,227,894 96.9 20,654 1,382,354 96.9 31,742 1,575,902 97.5 43,162 1,806,756 97.1 42,073 2,064,009 96.7 81,128 2,250,580 96.9 55,212 2,415,910 96.2 59,093 2,537,271 95.3 55,995 2,775,714 97.4 138,965 3,377,993 Ratio of Total. Tax Collection to Total Levy 99.5 98.3 98.8 99.9 99.2 100.3 99.2 98.5 97.3 101.6 Ratio of Outstanding Delinquent Delinquent Taxes to Taxes Total Levy $ 53,711 77,174 95,556 96,756 114,275 107,591 127,841 139,541 223,242 161,417 4.4 5.6 6.0 5.4 5.5 4.8 5.3 5.4 7.8 4.8 Year 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 (1) CITY OF STILLWATER, MINNESOTA ASSESSED AND ESTIMATED ACTUAL VALUE OF PROPERTY (1) LAST TEN FISCAL YEARS Real Property Assessed Value or Net Tax Capacity (2) $ 44,431,611 $ 193,506,686 $ 1,377,294 54,777,051 230,881,369 1,509,696 63,628,768 252,003,734 1,673,698 65,768,592 70,857,825 74,050,146 78,678,044 83,557,032 9,677,857 9,980,363 Market Value Personal Property Assessed Value or Net Tax Market Capacity (2) Value 278,043,580 1,892,634 297,727,200 1,960,256 310,351,000 2,075,711 326,998,200 2,117,292 354,492,800 2,248,698 438,113,000 289,469 456,100,300 292,315 3,203,008 3,516,902 3,969,175 4,569,200 4,837,700 4,934,400 5,246,100 5,557,900 5,740,500 5,960,800 Information obtained from Washington County, Minnesota Auditor's Office. (2) The State of Minnesota has changed the method of calculating tax levies. For the years 1981 -1988, the valuations are assessed value, for the years 1989 -1990, the valuation is net capacity. Each mill of tax represents one dollar per thousand dollars of assessed value. Tax capacity rates are a percentage of the net tax capacity. Total Assessed Value or Net Tax Market Capacity (2) Value $ 45,808,905 $ 196,709,694 56,286,747 65,302,466 67,661,226 72,818,081 76,125,857 80,795,336 85,805,730 9,967,326 10,272,678 234,398,271 255,972,909 282,612,780 302,564,900 315,285,400 332,244,300 360,050,700 443,853,500 462,061,100 Ratio of Total Assessed Value or Net Tax Capacity to Total Market Value 23.3% 24.0 25.5 23.9 24.1 24.1 24.3 23.8 2.2 2.2 Year 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 (1) (2) CITY OF STILLWATER, MINNESOTA PROPERTY TAX RATES (1),(2) DIRECT AND OVERLAPPING GOVERNMENTS LAST TEN FISCAL YEARS Operating Millage or Tax Capacity Rate 18.601 17.312 16.186 19.356 20.201 21.581 22.276 23.536 19.607 21.439 City Debt Service Millage or Tax Capacity Rate 7.159 6.857 7.735 6.867 7.631 7.220 6.574 5.536 4.409 5.474 Information obtained from Washington County, Minnesota Auditor's Office. The State of Minnesota has changed the method of calculating tax levies. For the years 1981 -1988, the values are operating "millage" and debt service "millage ". For the year 1989 -1990 the values have been replaced with "tax capacity rate." County Debt Total Operating Service Total Millage Millage Millage Millage or Tax or Tax or Tax or Tax Capacity Capacity Capacity Capacity Rate Rate Rate Rate 25.760 24.725 24.169 22.769 23.921 22.870 26.223 26.164 27.832 25.190 28.801 26.505 28.850 25.302 29.072 25.503 24.016 20.834 26.913 21.306 .199 1.081 1.197 .132 .097 1.443 24.725 22.769 22.870 26.164 25.389 27.586 26.499 25.635 20.931 22.749 Operating Millage Or Tax Capacity Rate 38.323 45.501 47.746 46.943 46.200 48.717 52.409 52.798 49.578 42.846 SCHOOL Debt Service Millage Or Tax Capacity Rate 3.903 3.094 .912 1.800 1.831 1.674 1.522 .088 Total Millage Or Tax Capacity Rate 42.226 48.595 47.746 47.855 48.000 50.548 54.083 54.320 49.666 42.846 OTHER 916 /HRA Millage Or Tax Capacity Rate 5.069 5.195 5.823 5.794 6.211 6.880 6.163 7.058 5.554 5.195 Total Millage Or Tax Capacity Rate 97.780 100.728 100.360 106.036 107.432 113.815 115.595 116.085 100.167 97.703 Northern States Power River Heights Plaza Super Value Store Bowman, Richard S. Immuno Nuclear /Inc Star Woodland Lakes Partners WA Federal Savings Bank Beverly Enterprises Oak Glen Development UFE, Inc. Total CITY OF STILLWATER, MINNESOTA SCHEDULE OF PRINCIPAL TAXPAYERS (1) December 31, 1990 Type of Business Utility Shopping Center Retail Grocery Warehouse Services Medical Supply Developer Financial Nursing Home Developer Plastic Molding (1) Information obtained from Washington County, Minnesota Auditor's Office. -123- 1990 Market Value $ 4,778,000 4,735,500 3,730,500 3,545,200 3,312,600 2,268,800 2,047,100 2,462,400 1,727,000 1,658,900 $30,266,000 1990 Tax Capacity $ 241,767 237,856 187,003 177,627 165,858 114,801 101,823 88,646 85,627 82,180 $ 1,483,188 Percentage of Total Tax Capacity 2.43% 2.39 1.88 1.78 1.67 1.15 1.02 .89 .86 .83 14.90% CITY OF STILLWATER, MINNESOTA RATIO OF NET GENERAL OBLIGATION BONDED DEBT TO ASSESSED VALUE AND NET GENERAL OBLIGATION DEBT PER CAPITA Assessed Value or Gross Less Debt Net Tax Bonded Service Year Population(1)Capacity (2) Debt (3) Fund (4) 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 Estimates from Metropolitan Council Information obtained from Washington County, Minnesota Assessor's Office. Amount does not include improvement bonds or tax increment bonds Amount available for repayment of general obligation bonds These amounts include the general obligation bonds that are being paid from sewer and water revenues 12,340 $45,808,905 $ 2,385,000 $ 12,440 56,286,747 2,165,000 12,660 65,302,466 2,580,000 12,770 67,661,226 2,980,000 12,970 72,818,081 2,635,000 13,116 76,125,857 3,710,000 13,256 80,795,336 3,270,000 13,485 85,805,730 3,475,000 13,282 9,967,326 3,015,000 13,882 10,272,678 3,880,000 100,991 143,040 198,110 306,165 475,112 535,811 464,992 480,501 570,101 452,793 Ratio of Net Bonded Debt Debt Payable to Assessed from Net Value or Net Bonded Enterprise Bonded Net Tax Debt per Revenue(5) Debt Capacity Capita $ 860,000 $ 1,424,009 3.1% $ 115.40 825,000 1,196,960 2.2 96.22 785,000 1,596,890 2.4 126.14 745,000 1,928,835 2.9 151.04 665,000 1,494,888 2.1 115.26 580,000 2,594,189 3.4 197.79 495,000 2,310,008 2.9 174.26 410,000 2,584,499 3.0 191.66 320,000 2,124,899 21.3 159.98 230,000 3,197,207 31.1 230.31 Estimated Market Value (1) $462,061,100 Legal debt margin: Debt limitation - 2% of estimated market value Debt applicable to limitation: Total bonded debt Less: Improvement bonds Revenue bonds TIF bonds CITY OF STILLWATER, MINNESOTA COMPUTATION OF LEGAL DEBT MARGIN December 31, 1990 $13,845,000 (8,115,000) (230,000) (1,850,000) 9,241,222 Total debt applicable to limitation 3,650,000 Legal debt margin $ 5,591,222 (1) Information obtained from Washington County, Minnesota Auditor's Office. Comprehensive general liability ($5,000 deductible): Bodily injury Property damage Contractual liability: Personal injury liability Property damage Automobile and fire truck liability Uninsured motorist Automobile and fire truck physical damage (scheduled vehicles): Collision (auto $500 deductible, fire and street equipment $500 deductible) Comprehensive ($100 deductible) Property floater (scheduled property) Contractor's equipment Boiler and machinery peril (scheduled - $500 deductible) Business interruption insurance - Ice Arena (80% co- insurance) (24 hour deductible) Public and institutional property (all risk - $5,000 deductible): Building and contents - 90% co- insurance Ice Arena and contents - 90% co- insurance Library - paintings and photographs Voting machines Workers' compensation Crime insurance ($100 deductible): Inside /Outside Flood insurance Building (scheduled) Contents (scheduled) Public officials and Employees liability Firefighters liability Police liability CITY OF STILLWATER, MINNESOTA SCHEDULE OF INSURANCE IN FORCE AND OFFICIALS' BONDS December 31, 1990 Coverage Amount -128- $ 600,000 600,000 600,000 600,000/600,000 600,000 600,000 A.C.V. A.C.V. 141,283 574,401 1,000,000 31,500 5,426,500 1,074,000 7,000 12,000 Statutory 3,000 14,400/11,900 14,100/12,800 1,000,000 500,000 500,000 (continued) SCHEDULE OF INSURANCE IN FORCE AND OFFICIALS' BONDS (CONTINUED) December 31, 1990 City Coordinator: Nile L. Kriesel City Clerk: Mary Lou Johnson City Treasurer: Diane Deblon Secretary /Manager - Waterworks: Dennis A. McKean Employee Blanket Bond Notary Bonds CITY OF STILLWATER, MINNESOTA Officials Bonds Amount $ 25,000 10,000 25,000 5,000 2,500 6,000 CITY OF STILLWATER, MINNESOTA SPECIAL ASSESSMENT BILLINGS & COLLECTIONS Last Ten Fiscal Years Special Special Assessment Assessment Fiscal Year Billings(2) Collections (1),(2) 1981 $ N/A $ N/A 1982 N/A N/A 1983 N/A N/A 1984 N/A N/A 1985 N/A N/A 1986 1,056,247 1,823,696 1987 1,013,121 1,944,296 1988 963,382 1,010,300 1989 902,883 715,980 1990 879,785 2,176,489 (1) Includes prepayments, current and delinquent collections. (2) Information not available is labeled "N /A ". Fiscal Year 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 Gross Revenues (1) $ 749,640 $ 1,109,791 1,112,672 1,205,005 1,200,752 1,366,012 1,468,376 1,614,907 1,746,186 1,836,126 CITY OF STILLWATER, MINNESOTA GENERAL OBLIGATION REVENUE BOND COVERAGE Last Ten Fiscal Years Net Revenue Operating Available Expenses For Debt (2) Service Principal 907,654 985,984 973,138 1,1851,437 1,146'„928 1,283,958 1,275,137 1,575,346 Debt Service Requirements Interest and Fees Total Coverage 738,590 $ 11,050 $ 43,000 $ 47,191 $ 90,191 794,627 315,164 43,000 42,735 85,735 205,018 48,000 40,589 88,589 219,021 48,000 38,534 86,534 227,614 88,000 46,646 134,646 180,575 85,000 41,723 126,723 321,448 100,000 27,988 127,988 330,949 90,000 23,741 113,741 471,049 90,000 19,212 109,212 239,112 90,000 15,659 105,659 (1) Total revenues for sanitary sewer and waterworks proprietary fund types. (2) Total operating expenses excluding depreciation for sanitary sewer and waterworks proprietary fund types. .13% 3.68 2.31 2.53 1.69 1.42 2.51 2.91 4.31 2.26 1 1 Direct: City of Stillwater Overlapping: COMPUTATION OF DIRECT AND OVERLAPPING BONDED DEBT General Obligation Bonds December 31, 1990 Washington County Independent School District #916 Metropolitan Council Metropolitan Transit District CITY OF STILLWATER, MINNESOTA Gross General Obligation Bonded Percentage Debt Applicable Outstandin& to City Net Amount Applicable to City $ 3,650,000(1) 100% $ 3,650,000 36,265,000(2) 8.76 3,176,814(2) 13,265,000(2) 3.14 416,474(2) 32,620,000(2) .49 159,838(2) 55,985,000(2) .53 296,721(2) $ 7,699,847 (1) Excludes general obligation bonds reported in the enterprise funds and general obligation improvement and tax increment financing bonds. (2) Information obtained from Washington County, Minnesota Assessor's office. Fiscal Year 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 CITY OF STILLWATER, MINNESOTA RATIO OF ANNUAL DEBT SERVICE EXPENDITURES FOR GENERAL OBLIGATION BONDED DEBT (1) TO TOTAL GENERAL GOVERNMENT EXPENDITURES Principal $ 170,000 $ 185,000 195,000 235,000 265,000 240,000 335,000 335,000 370,000 395,000 Interest (2) 91,925 $ 83,501 72,737 117,619 134,562 128,672 168,978 166,183 193,910 164,893 (1) General obligation bonds reported in the enterprise funds, tax increment and improvement debt with government commitment have been excluded. (2) Excludes bond issuance and, other costs. (3) Includes general, special revenue and debt service funds. Total Debt Service 261,925 $ 268,501 267,737 352,619 399,562 368,672 503,978 501,183 563,910 559,893 Ratio of Total Debt Service General to Government General Expenditures Governmental (3) Expenditures 2,581,698 3,208,999 3,777,980 4,071,625 4,212,154 9,434,353 8,305,570 8,960,223 6,585,161 6,312,491 10.1% 8.4 7.1 8.7 9.5 3.9 6.1 5.6 8.6 8.9 1 1 1 1 Fiscal Year 1 1 II (1) Information obtained from Washington County, Minnesota Auditor's Office. I( 2) Information obtained from Firstar, Norwest, and Cosmopolitan Banks and Metropolitan Federal Savings and Loan for 1990. No information is available from Metropolitan Federal for years 1981 -1989. The 1990 dollar amount includes $49,730 for Metropolitan Federal. 1 1 1 1 1 1 1 1 1 In thousands Property Value (1),(3) Commercial Residential Total CITY OF STILLWATER, MINNESOTA PROPERTY VALUE, CONSTRUCTION AND BANK DEPOSITS LAST TEN FISCAL YEARS 1981 $ 27,681 $ 206,717 $ 234,398 $ 833 7 $ 495 $ 110,736 1982 27,032 228,865 255,897 2,386 12 1,119 125,196 1983 33,381 240,077 273,458 4,319 55 5,198 145,132 1984 38,534 253,598 292,132 8,227 41 3,813 160,674 1985 41,452 262,749 304,201 3,123 36 3,406 174,337 1986 52,769 279,164 . 331,933 2,542 54 6,849 188,634 1987 58,861 300,878 359,739 9,195 79 8,073 199,371 1988 75,613 326,693 402,306 7,571 59 6,891 311,915 1989 85,355 358,499 443,854 6,169 34 3,562 223,931 1990 90,723 371,338 462,061 2,760 45 4,513 267,117 13) 4) Information obtained from building permits issued by the City of Stillwater. -134- Commercial Residential Construction Construction Number of Bank Value(3),(4) Units (4) Value(3),(4) Deposits(2),(3) 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 CITY OF STILLWATER, MINNESOTA DEMOGRAPHIC STATISTICS City of Stillwater Population (1) 12,340 12,440 12,660 12,770 12,970 13,116 13,256 13,485 13,282 13,882 Washington County Per Capita Unemployment Income (2)(4) Percentage (3) N/A 4.4 12,141 6.4 13,038 4.6 14,412 4.3 15,542 3.7 16,588 3.7 17,530 3.9 19,578 3.1 N/A 3.5 N/A 4.1 (1) Estimates from Metropolitan Council, except for 1990 which is per the U.S. Census (2) Information from State Demographers Office (Bureau of Economic Analysis Report) (3) Information from Jobs Training Research Statistics Department (4) Information not available is labeled N/A Date of Incorporation Form of Government Area of City Government facilities and services: Miles of streets Number of street lights Number of Employees: Regular Part -time /seasonal CITY OF STILLWATER, MINNESOTA MISCELLANEOUS STATISTICS DECEMBER 31, 1990 Police Protection: Number of full -time personnel and officers Number of part -time personnel Number of patrol units Number of law violations: Citations & arrests Traffic violations Parking violations -136- 1854 Mayor/ Council 3,750 acres 74.4 848 62 67 20 12 5 4,986 2,135 2,518 Fire Protection: Number of full -time personnel and officers 7 Number of part -time personnel and volunteers 29 Number of calls answered 309 Number of inspections conducted 533 Culture and Recreation: Area of Parks 153.58 acres Basketball courts 5 Boat launches 1 Horseshoe courts 1 Ice arena 1 Library 1 Skating rinks 7 Soccer fields 3 Softball fields 9 Swimming beach 1 Tennis courts 10 Elections: Registered voters last election 8,875 Number of votes cast last election 6,203 Percentage of registered voter participation 70% (Continued) CITY OF STILLWATER, MINNESOTA MISCELLANEOUS STATISTICS (CONTINUED) December 31, 1990 Water Department: Number of connections 4,177 Average daily consumption 1,597,000 Daily capacity 6,065,280 Miles of water main 6,455 Number of fire hydrants 630 Water rate per thousand gallons $1.10 Sewerage System: Miles of sanitary sewers 70 Miles of storm sewers 17 Number of sewer connections 4,116