Summary financial report
City of Alexandria, Minnesota, Summary Financial Report
The purpose of this report is to provide a summary of financial information regarding the City of Alexandria to
interested citizens. Full financial statements can be viewed at City Hall, 704 Broadway, Alexandria,
MN, 56308 or online at www.alexandriamn.city. Questions regarding this report should be directed to the Finance Department
Director at (320) 763-6678
Revenues and expenditures for general operations Government funds
For the years ended December 31, 2021 and 2020
Total
Percent
Increase
Revenues 2021 2020 (Decrease)
Taxes $9,510,177 $9,172,620 3.68%
Payment in lieu of taxes 1,014,844 968,980 4.73
Special contributions 588,515 595,100 (1.11)
Licenses and permits 754,029 744,372 1.30
Intergovernmental 5,451,905 5,297,863 2.91
Service charges 1,442,970 2,043,846 (29.40)
Fines and confiscations 99,490 71,203 39.73
Investment income 8,620,208,097 (95.86)
Refunds and refunds – 593,187 (100.00)
Miscellaneous 245,807 2,410,041 (89.80)
Total revenue $19,116,357 $22,105,309 (13.52)%
Per capita $1,334 $1,562 (14.60)%
Expenses
Running
Public administration $2,527,963 $2,534,823 (0.27)%
Public Security 4,381,936 4,418,663 (0.83)
Public works 2,074,222 2,221,532 (6.63)
Culture and leisure 1,409,398 1,291,619 9.12
Economic development 2,779,846 1,798,294 54.58
Miscellaneous 196,251 166,889 17.59
Downpayment
General government 37,431 223,527 (83.25)
Public Security 75,796 153,576 (50.65)
Public works 1,725,343 6,779,298 (74.55)
Culture and leisure 207,406 1,524,636 (86.40)
Miscellaneous 1,169,414 1,026,673 13.90
Debt service
Principal 1,994,857 2,200,347 (9.34)
Interest and other charges 537,625 563,229 (4.55)
Bond issue costs – 57,048 (100.00)
Total expenses $19,117,488 $24,960,154 (23.41)%
Per capita $1,334 $1,763 (24.36)%
Total long-term debt $18,611,919 $19,102,280 (2.57)%
Per capita 1,298 1,349 (3.78)
General fund balance – December 31 $5,804,117 $5,320,065 9.10%
Per capita 405,376 7.74
City of Alexandria, Minnesota
Equity
Net position statement
December 31, 2021
609
Downtown
Alcohol
610
Square
Alcohol
211
Rainy waters
Utility Totals
Assets
Current assets
Cash and temporary investments $363,982 $754,568 $819,776 $1,938,326
Receivables
Accounts 30,236 63,080 – 93,316
Amounts receivable from other funds -1,436 -1,436
To be received from the component unit – – 65,468 65,468
Inventories 509,917 546,164 – 1,056,081
Total current assets 904,135 1,365,248 885,244 3,154,627
Non-current assets Fixed assets
Land 68,603 32,810 – 101,413
Buildings 439,516 610,590 8,346 1,058,452
Equipment 219,657 224,969 – 444,626
Other improvements 45,487 25,224 21,296,953 21,367,664
Less accumulated amortization (592,484) (644,531) (9,564,560) (10,801,575)
Total fixed assets (net of
Accumulated amortization) 180,779 249,062 11,740,739 12,170,580
Total assets 1,084,914 1,614,310 12,625,983 15,325,207
Deferred issues of Deferred resources
pension resources 98,318 124,483 23,867 246,668
Other deferred post-employment benefits
resources 5,999 170 1,579 7,748
Total deferred outflow of resources 104,317 124,653 25,446 254,416
Passives
Current liabilities
Debts and contracts payable 48,531 114,800 22,614 185,945
Due to other governments 28,408 47,374 – 75,782
Accrued interest payable – – 13,083 13,083
Salaries payable payable 10,508 13,232 3,246 26,986
Compensated absences to be paid 10,565 16,768 5,821 33,154
Due to other funds 26,939 25,434 – 52,373
Advance of other funds, ongoing
share 10,030 42,653 – 52,683
Obligations payable, current portion – – 160,000 160,000
Total current liabilities 134,981 260,261 204,764 600,006
Non-current liabilities offset
absences payable 25,487 22,509 5,243 53,239
Bonds payable – – 1,159,668 1,159,668
Other post-employment benefits 10,955 2,007 6,045 19,007
Net pension commitment 138,742 175,665 33,680 348,087
Advance on other funds, net of current charges
maturities 43,570 104,509 – 148,079
Total non-current liabilities 218,754 304,690 1,204,636 1,728,080
Total liabilities 353,735 564,951 1,409,400 2,328,086
Deferred entries of Deferred resources
pension resources 128,707 162,960 31,244 322,911
Other deferred post-employment benefits
resources 1,298 2,882 2,984 7,164
Total deferred resource contributions 130,005 165,842 34,228 330,075
The net position
Net investment in fixed assets 137,209 144,553 10,421,071 10,702,833
Unallocated 568,282 863,617 786,730 2,218,629
Total net position $705,491 $1,008,170 $11,207,801 $12,921,462
The notes to the financial statements form an integral part of this statement.
City of Alexandria, Minnesota
Equity
Statement of income, expenses and changes in net position
For the year ended December 31, 2021
operating income
609
Downtown
Alcohol
610
Square
Alcohol
211
Rainy waters
Utility Totals
Sales $3,105,499 $4,740,253 -$ $7,845,752
Cost of sales (2,321,039) (3,540,228) – (5,861,267)
Service charges – – 859,131 859,131
Total operating income 784,460 1,200,025 859,131 2,843,616
Functionnary costs
Personal services 398,525 536,337 107,455 1,042,317
Supplies and operating expenses 21,801 15,781 1,940 39,522
Insurance 14,745 20,361 – 35,106
Utilities 12,945 14,709 – 27,654
Depreciation and amortization 16,820 49,875 435,305 502,000
Other services and charges 97,618 146,479 167,788 411,885
Total operating expenses 562,454,783 542,712,488 2,058,484
Operating profit 222,006 416,483 146,643 785,132
Non-operating income (expenses)
Intergovernmental revenue 4,653 4,744 83 9,480
Miscellaneous income 1,901 2,775 – 4,676
Investment income 76,320 4,511 4,907
Premium amortization – – 12,096 12,096
Interest charges (1,204) (4,444) (31,762) (37,410)
Total non-operating revenue
(Expenses) 5,426 3,395 (15,072) (6,251)
Income before transfers 227,432 419,878 131,571 778,881
Transfers in – – 191,050 191,050
Transfers out (45,000) (210,000) (237,684) (492,684)
Change in net position 182,432 209,878 84,937 477,247
Net position, 1 January 523,059 798,292 – 1,321,351
Prior period adjustment (note 10) – – 11,122,864 11,122,864
Net position, December 31 $705,491 $1,008,170 $11,207,801 $12,921,462
The notes to the financial statements form an integral part of this statement.
City of Alexandria, Minnesota
Equity
Cash flow statement
For the year ended December 31, 2021
Cash flow from operating activities
609
Downtown
Alcohol
610
Square
Alcohol
211
Rainy waters
Utility Totals
Customer revenue $3,112,400 $4,742,106 $859,131 $8,713,637
Payments to suppliers and vendors (2,554,940) (3,783,787) (156,501) (6,495,228)
Payments to and on behalf of employees (408,332) (476,327) (104,941) (989,600)
Other revenue 1,901 2,775 – 4,676
Net cash provided by operations
Activities 151,029 484,767 597,689 1,233,485
Cash flow from non-equity financing activities
Grants received 4,653 4,744 83 9,480
Transfer in – – 191,050 –
Transfers out (45,000) (210,000) (237,684) (492,684)
Decrease in component unit liability – – (835) –
Net cash used by
Non-capital financing activities (40,347) (205,256) (47,386) (483,204)
Cash flow from capital
and related fundraising activities
Acquisition of fixed assets (20,961) (21,214) (230,849) (273,024)
Principal paid on advance (12,160) (41,487) – (53,647)
Interest paid on advance (1,204) (4,444) – (5,648)
Principal paid on long-term debt – – (155,000) (155,000)
Interest paid on long-term debt – – (33,700) (33,700)
Net cash used by Capital and
Related financing activities (34,325) (67,145) (419,549) (521,019)
Cash flow from investing activities
Interest received on cash and investments 76,320 4,511 4,907
Net increase (decrease)
In cash and cash equivalents 76,433 212,686 135,265 424,384
Cash and cash equivalents, January 1 287,549 541,882 684,511 1,513,942
Cash and cash equivalents, December 31 $363,982 $754,568 $819,776 $1,938,326
Reconciliation of operating income to net income
Cash flow from operating activities
Operating income $222,006 $416,483 $146,643 $785,132
Adjustments to reconcile operating income
net cash provided by operations
activities Amortization and depreciation 16,820 49,875 435 305 502,000
Other operating income 1,901 2,775 – 4,676
(Increase) decrease in assets Accounts
receivable 357 (4,277) – (3,920)
Amounts due from other funds/departments 6,544 6,130 – 12,674
Inventories (80,140) (60,705) – (140,845)
(Increase) decrease in deferred disbursements of
resources Deferred retirement resources (81,434) (108,804) (19,810) (210,048)
Other deferred post-employment benefits
resources (5,576) 129 (1,014) (6,461)
Increase (decrease) in liabilities Accounts
and contracts payable (10,744) 12,939 (534) 1,661
Due to other governments (261) 4,128 – 3,867
Due to other funds/departments 4,353 (2,591) – 1,762
Due to constituent unit – – 13,761 13,761
Salaries payable payable 1,428 2,211 1,022 4,661
Paid absences payable (610) 11,298 3,194 13,882
Net pension commitment (49,056) 1,270 (11,449) (59,235)
Liability for other post-employment benefits 5,550 (2,429) 104 3,225
Increase (decrease) in deferred receipts of
resources Deferred retirement resources 118,598 153,572 28,815 300,985
Other deferred post-employment benefits
resources 1,293 2,763 1,652 5,708
Net cash provided (used) by
Operating activities $151,029 $484,767 $597,689 $1,233,485
Non-monetary investment, capital and financing
Activities
Bond discount amortization (premium) – $ – $ (12,096) $ – $
The notes to the financial statements form an integral part of this statement.
Publish July 1, 2022
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