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<br />The purpose of this report is to provide a summary of financial information concerning the City of
<br />Ramsey to interested citizens. The complete audited financial report may be examined at the Ramsey
<br />Municipal Center, 15153 Nowthen Boulevard N.W., Ramsey, Minnesota 55303. Questions about this report
<br />should be directed to Diana Lund, Finance Officer, at 427 -1410.
<br />The following is a summary report for general operations which include the City's General, Special
<br />Revenue, Debt Service, Capital Projects, and Expendable Trust funds.
<br />SUMMARY STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE -
<br />ALL GOVERNMENTAL FUND TYPES AND EXPENDABLE TRUST FUND
<br />Year Ended December 31, 1999
<br />(With Comparative Totals for Year Ended December 31, 1998)
<br />REVENUE:
<br />EXPENDITURES:
<br />Current -
<br />Property Taxes
<br />Special Assessments
<br />Licenses and Permits
<br />Intergovernmental Revenues
<br />Charges for Services
<br />Fines and Penalties
<br />Other Revenue -
<br />Interest Earned on Investments
<br />Insurance Refunds and Dividends
<br />Miscellaneous
<br />TOTAL REVENUE
<br />General Government
<br />Public Safety
<br />Highways and Streets
<br />Culture and Recreation
<br />Debt Service
<br />Capital Outlay
<br />CITY OF RAMSEY, MINNESOTA
<br />SUMMARY FINANCIAL INFORMATION
<br />TOTAL EXPENDITURES
<br />EXCESS (DEFICIENCY) OF
<br />REVENUES OVER EXPENDITURES
<br />OTHER FINANCING SOURCES (USES):
<br />Bond Proceeds
<br />Proceeds from Sale of Fixed Assets
<br />Operating Transfers In
<br />Operating Transfers Out
<br />TOTAL OTHER FINANCING SOURCES (USES)
<br />EXCESS (DEFICIENCY) OF REVENUE AND
<br />OTHER FINANCING SOURCES OVER
<br />EXPENDITURES AND OTHER FINANCING USES
<br />FUND BALANCE - Beginning of Year
<br />Equity Transfers In
<br />Equity Transfers (Out)
<br />FUND BALANCE - End of Year
<br />TOTAL
<br />1999
<br />$4,495,634
<br />452,623
<br />320,837
<br />1,133,655
<br />219,122
<br />46,018
<br />560,615
<br />28,408
<br />471,971
<br />$7,728,883
<br />$ 2,678,755
<br />1,514,429
<br />574,116
<br />332,356
<br />773,205
<br />4,702,706
<br />$ 10,575,567
<br />$ (2,846,684)
<br />$ 2,836,798
<br />11,567
<br />4,424,034
<br />(4,003,325)
<br />$ 3,269,074
<br />$ 422,390
<br />1 6,548,421
<br />-0-
<br />-0-
<br />$ 16,970,811
<br />There's no future in time travel. - Anonymous
<br />TOTAL
<br />1998
<br />$3,905,358
<br />555,076
<br />404,718
<br />1,301,713
<br />356,276
<br />47,987
<br />973,588
<br />0
<br />377,216
<br />$7,921,932
<br />52,286,230
<br />1,350,940
<br />591,689
<br />303,793
<br />722,497
<br />2,245,830
<br />$7,500,979
<br />$ 420,953
<br />$ 0
<br />57,074
<br />3,854,703
<br />(3,285,993)
<br />$ 625,784
<br />5 1 ,046,737
<br />PERCENT
<br />INCREASE
<br />(DECREASE)
<br />15.1%
<br />(18.5)
<br />(20.7)
<br />(12.9)
<br />(38.5)
<br />( 4.1)
<br />(42.4)
<br />100.0
<br />25.1
<br />(2.4)
<br />17.2
<br />12.1
<br />(3.0)
<br />9.5
<br />7.0
<br />109.4
<br />41.0
<br />(576.2)
<br />100.0
<br />(79.7)
<br />14.8
<br />(21.8)
<br />422.4
<br />15,736,445 5.2
<br />922 (100.0)
<br />(235,683) 100.0
<br />$16,548,421 2.6%
<br />Enterprise Funds are used to account for the operations of self - supporting governmental activities which render
<br />services or goods to the public. The reporting of Enterprise Funds is similar to comparable private enterprises; the
<br />accounting records are maintained on an accrual basis. Creditors, legislators, or the general public can evaluate the
<br />performance of a municipal enterprise on the same basis as they can the performance of investor -owned enterprises.
<br />For this reason, Enterprise Fund financial results are not combined with Governmental Fund Types and
<br />Expendable Trust Funds for reporting purposes. The results of operation of the City of Ramsey's Water Utility
<br />Enterprise Fund, Sewer Utility Enterprise funs, Street Lighting Enterprise Fund and Recycling Utility Fund are
<br />summarized below.
<br />ENTERPRISE FUNDS
<br />COMPARATIVE STATEMENTS OF REVENUE, EXPENSES AND CHANGES IN RETAINED EARNINGS
<br />Years Ended December 31, 1999 and 1998
<br />OPERATING REVENUE:
<br />Charges for Service
<br />Sewer Access Surcharge
<br />Miscellaneous
<br />TOTAL OPERATING REVENUE
<br />OPERATING EXPENSES:
<br />Personal Services $ 48,149 $ 8,252 $ -0- S 2,753
<br />Supplies 64,262 980 -0- 2,991
<br />Services and Charges -
<br />Disposal Charges -0- 288,524
<br />Other 106,465 27,436
<br />Depreciation 177,690 167,344
<br />TOTAL OPERATING EXPENSES $ 396,566 $ 492,536
<br />OPERATING INCOME (LOSS)
<br />NON - OPERATING REVENUE (EXPENSE):
<br />Interest Earned on Investments
<br />NET INCOME (LOSS) BEFORE
<br />OPERATING TRANSFERS
<br />OPERATING TRANSFERS IN (OUT)
<br />NET INCOME (LOSS)
<br />RETAINED EARNINGS (DEFICIT) -
<br />Beginning of Year
<br />RETAINED EARNINGS (DEFICIT) -
<br />End of Year
<br />Current Population per Metropolitan Council
<br />*Estimates
<br />Total Tax Capacity
<br />(59.6) Percent of Property Taxes Collected
<br />WATER SEWER STREET RECYCLING
<br />UTILITY UTILITY LIGHTING UTILITY
<br />$ 399,960 5 502,377 $ 79,058 $ 113,315
<br />-0- 2,257 -0- -0-
<br />24,882 (1,417) -0- 33,614
<br />$ 424,842 $ 503,2172 $ 79,058 5 146,929
<br />$ 28,276 $ 10,681 S 34,495
<br />101,303 41,807 5,100
<br />$ 39,595
<br />$ 129,579
<br />(410,209)
<br />$(280,630
<br />$ 52,488
<br />(6,000)
<br />$ 46,488
<br />19,000
<br />$1 1,794,670
<br />96.6%
<br />City Revenues Per Capita -
<br />Governmental and Expendable Trust Funds 5481.22
<br />Ratio of Net Bonded Debt to Tax Capacity 64.58%
<br />Bond Rating - General Obligation Bonds A I
<br />-0- 121,981
<br />36,065 3,500
<br />8.498 -0-
<br />$ 44,563 S 131,225
<br />Free advice generally costs more than the other kind. - Anonymous
<br />5 15,704
<br />875
<br />S 16,579
<br />TOTAL TOTAL
<br />1999 1998
<br />51,094,710 5969,079
<br />2,257 3,450
<br />57,079 134,876
<br />$1,154,046 S1,107,405
<br />5 59,154 S 49,521
<br />68,233 66,384
<br />410,505 348,940
<br />173,466 146,564
<br />353,532 341,821
<br />S1,064,890 S953,230
<br />$ 89,156
<br />149,085
<br />S 238,241
<br />S 154,175
<br />2 39.593
<br />S 393.768
<br />(2,500) (2,000) (420.709) (568,710)
<br />S 37,095 S 14,579 S (182,468) S (174,942)
<br />209,644 (96,698) 138,632 65,660 317,238 492,180
<br />$ (70,986) 5(50,210) $ 175,727 $ 80,239 5134,770 S 317,238
<br />KEY FINANCIAL HEALTH INDICATORS
<br />1999 1998
<br />18,079
<br />$10,800,683
<br />98.4%
<br />$485.35
<br />46.22%
<br />Al
<br />1997
<br />17,850
<br />$ 10,093,162
<br />98.8%
<br />$558.45
<br />52.03%
<br />Al
<br />1996
<br />17,000
<br />59,054,212
<br />98.7%
<br />5519.54
<br />59.73°
<br />Al
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