|
Appropriateness of Data - This is a perennial problem for municipalities trying to please the
<br />electorate, the Council or Board, the State, and t'outsiders~t' such as rating agencies and
<br />underwriters. A comprehensive list of specific needs may help in arriving at a suitable format
<br />and a reasonable quantity of data. is information included in such minute detail that the "big
<br />picture" is blurred? Or, is the Report so compact that it is of little assistance for spotting
<br />existing and potential problems?
<br />
<br />Conformance with Stand. ard~ Recognized Accounting Procedures - Conformance to governmental
<br />accounting standards assists by making the information more easily understood and more
<br />comparable to other municipalities. Persons who analyze Reports are seldom impressed by
<br />deviations from formats to which they are accustomed, no matter how ingenious the departure
<br />from the norm may be. Even if the analyst has the time, she or he probably won't take it to
<br />understand the Report as it was intended.
<br />
<br />A few additional observations:
<br />
<br />Clear and detailed notes accompanying financial statements are a crucial part of
<br />an Annual Financial Report. In addition to clarifying the data presented, they
<br />frequently reveal a great deal about the administration and fiscal management of a
<br />municipality.
<br />
<br />One of the rating agencies tells us that "the very best" financial statements for its
<br />use is a three column approach, showing fiscal year, budget, and previous year. In
<br />one look, it shows where the municipality has been, where its going, and how it~
<br />doing in getting there.
<br />
<br />If you have questions or need information regarding governmental accounting, the Minnesota or
<br />Wisconsin Municipal Finance Officers Association is an excellent source.
<br />
<br />S-! STATISTICAL SAMPLER FOR DECEMBER
<br />
<br /> Bond Buyer
<br />For the Week Ending Index
<br />
<br /> November 30 7.26%
<br /> December 7 7.17%
<br /> December t8 7.26%
<br /> December 21 7.22%
<br /> December 28 7.23%
<br />
<br /> Bond Buyer Index ~ Ten Year Summnry
<br />
<br />Yeast Ran~te Year Range
<br />
<br />1970 7.12% - 5.33% 1975 7.67% - 6,27%
<br />1971 6.23% - /4.97% 1976 7.13% - 5,83%
<br />1972 5.5Lt%- /4.96% 1977 5.93% -
<br />i973 5.59% - tt.99% 1978 6.67% - 5.58%
<br />197ti 7.i5% - 5.16% 1979 7.38% - 6,09%
<br />
<br />Placement Tre~ury Bills
<br /> Ratio 13-Week 2¢.-Week
<br />
<br /> ~8.1% II .018% II .022%
<br /> 91.5% II ,927% II .767%
<br /> 80.t~% 12.05/4% I1.769%
<br /> 93.1% J2.228% I1.999%
<br /> 98.7% 12,070% II .854%
<br />
<br /> Municipal Certificate of Deposit Rates
<br /> Current Random Samplir~j
<br />
<br /> MN
<br />
<br /> 30-day - 13.00% 13.25%
<br /> 60-day - 13.10% 13.25%
<br /> 90-day - 13.15% 13.00%
<br /> 180-day - 13.00% 13.00%
<br /> ($100,000 minimum investment)
<br />
<br />SELECTED DECEMBF--FtSALES
<br />
<br /> Sole Final Moody's Retie
<br />Municipality D~te ~ Amount Maturity ~at incj 1~31 (NIC)
<br />
<br />Preston~ MN 12-03 C.O. Improvement $ [85,000 1995 NR 7.26% 7.00%
<br />So. St. Paul, MN 12-03 G.O. Cart. of Indebh $ 315,000 1988 BOa-I ?.26% 6.87%
<br />Dodge Center~ MN 12-0/4 G.O, Improvement $ 295,000 1990 Boa-I 7.26% 6.88%
<br />Rcchester, FaN 12-0/4 G,O. Temp. Improvement $ 8,090,1)00 1982 Aaa 7.26% 6.18%
<br />Stiilwoter~ MN 12-0/4 G.O. [mprovemenl $ 885,000 1992 A 7,26% 6.57%
<br />Stole of Wisconsin 12-0/4 G.O. Bonds~ Series A $tt6~500~000 2005 Aaa 7.26% 6.32%
<br />Delafield~ WI 12-05 G.O. PromlssoryNotes $ 1,320,000 1989 NR 7.26% ~.51%
<br />Mdhtomedi, h'dq 12-05 G.O, Building Bonds $ 465,000 199/4 Baa-I 7.26% 6.78%
<br />Norwo~d-Yeung Am lSD 108 12-10 G.O. SchoolBMg. Bonds $ 5,610,000 1995 8aa 7.17% 6.91%
<br />Hector, MN 12-11 G.O. Improvement Bonds $ 750~000 1996 A 7.17% 6.57%
<br />Lakeville, MN 12-11 O.O. improvement, Sar. A $ 7/40,000 1991 A 7.17% 6.51%
<br />Crow Wing County, MN 12-17 G.O. Airport Bonds $ ~00,000 2000 A 7.26% 6.78%
<br />Maple Grove, MN I2-17 G,O. Improvement, Sar. A $ 3,085,000 1992 A 7.26% 6,5/4%
<br />Minnetonka, MN 12-17 G.O. Temp. Improvement $ /4,900,000 1983 A 7.26% 6.62%
<br />Norfhfield, MN 12-17 C.C. Improvement Bonds $ 450,000 15'91 A 7.26% 6.40%
<br />Maple S/D, WI 12-18 G.O. School Bldg. Bonds $ 1,365,000 1999 A 7.26% 6,95%
<br />Caledonia lSD 299~ MN 12-19 G.O. School Bonds $ 500,000 1996 A 7.26% 6.61%
<br />Chippewa County~ MFI 12-19 G.O. Drainage Bonds $ 695~000 1995 A 7,26% 6.51%
<br />
<br />
<br />
|