2017 Financials Bonnie Freidrich

CITY OF BLAINE, MINNESOTA
SUMMARY FINANCIAL INFORMATION

The purpose of this report is to provide a summary of financial information concerning the City of Blaine
to interested citizens. The complete financial statements may be examined at the City of Blaine City Hall,
10801 Town Square Drive. Questions about this report should be directed to Joe Huss, Finance Director, at
763-717-2677.
REVENUE AND EXPENDITURES FOR GENERAL OPERATIONS
(GOVERNMENTAL FUNDS)
Total
2017

Total
2016

Percent
Increase
(Decrease)

REVENUES
Property taxes
$24,626,601
$22,350,678
10.18%
Tax increments
191,428
216,639
-11.64%
Franchise taxes
845,335
759,592
11.29%
Lodging taxes
4,384
4,419
-0.79%
Gambling taxes
134,658
141,152
-4.60%
Special assessments
1,230,489
846,373
45.38%
Park dedication fees
1,199,860
1,671,787
-28.23%
Licenses and permits
4,230,138
2,645,153
59.92%
Intergovernmental
6,300,534
3,140,418
100.63%
Charges for services
4,896,286
4,729,533
3.53%
Fines and forfeits
320,828
277,539
15.60%
Interest earnings
539,294
442,875
21.77%
Interest earnings
314,568
58,638
436.46%
Miscellaneous
392,077
378,339
3.63%
Total revenues
$45,226,480
$37,663,135
20.08%
Per Capita
691.86
586.76
17.91%
EXPENDITURES
Current:
General government
5,345,092
4,947,450
8.04%
Public safety
13,102,954
12,322,510
6.33%
Public works
7,079,704
7,046,598
0.47%
Recreation
1,188,003
1,187,494
0.04%
Community development
2,740,318
2,285,030
19.92%
Unallocated
405,689
405,844
-0.04%
Capital outlay
11,962,277
10,075,508
18.73%
Debt service
4,987,912
11,602,036
-57.01%
Total expenditures
$46,811,949
$49,872,470
-6.14%
Per Capita
716.12
776.97
-7.83%
Total Long-term Indebtedness
$33,144,634
$31,811,401
4.19%
Per Capita
507.04
495.60
2.31%
General Fund and Special Revenue Funds
Unrestricted Fund Balance - December 31
$13,571,892
$11,741,448
15.59%
Per Capita
207.62
182.92
13.50%
Current population
65,369
64,188
STATEMENT OF NET POSITION
PROPRIETARY FUNDS
DECEMBER 31, 2017
Enterprise
Internal
Funds
Service
Public
Funds
Utilities
ASSETS
Current assets:
Cash and cash equivalents
$18,607,276
$2,489,303
Accounts receivable
3,387,613
96,031
Special assessments receivable
660,531
Intergovernmental receivable
83,760
100
Accrued Interest Receivable
69,205
8,412
Prepaid assets
312,428
Total current assets
23,120,813
2,593,846
Noncurrent assets:
Capital assets:
Land
2,476,028
Buildings and structures
9,056,623
Machinery and equipment
7,244,038
Distribution and collection system
188,588,441
Construction in progress
703,873
Less: accumulated depreciation
(61,170,889)
Total capital assets - net
146,898,114
Interfund loans receivable
2,000,000
Total Noncurrent Assets
148,898,114
TOTAL ASSETS
172,018,927
2,593,846
DEFERRED OUTFLOWS OF RESOURCES
Related to pensions
14,716,405
LIABILITIES
Current liabilities:
Accounts payable
832,159
208,277
Accrued liabilities
24,702
Deposits payable
5,525
Compensated absences
91,000
Claims and judgments payable
121,374
Contracts payable
429,614
Intergovernmental payable
179,516
Accrued bond interest
52,548
Deferred revenue
448,386
Current portion of general obligation revenue bonds payable
2,885,000
Total current liabilities
4,857,450
420,651
Noncurrent liabilities:
Compensated absences
1,750,951
Claims and judgments payable
458,178
General obligation revenue bonds payable
2,512,123
Net pension liability
17,596,904
Total noncurrent liabilities
2,512,123
19,806,033
TOTAL LIABILITIES
7,369,573
20,226,684
DEFERRED INFLOWS OF RESOURCES
Related to pensions
16,671,659
NET POSITION
Net investments in capital assets
143,565,325
Unrestricted
21,084,029
(19,588,092)
TOTAL NET POSITION
$164,649,354
$(19,588,092)
CONTINUED...