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CITY OF NEW BRIGHTON, MINNESOTA
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<br />December 31, 2013
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<br />Proprietary funds. The City of New Brighton proprietary funds provide the same type of information found in the
<br />government-wide financial statements, but in more detail.
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<br />Unrestricted net position of the water, sewer, stormwater, street light system, and golf course operations at the end
<br />of the year amounted to $ 1,922,119. The change in net position for each fund was: Water Utility increased
<br />$ 1,280, Sewer Utility increased $ 5,364; Stormwater Management Utility increased $ 2,897; Street Light System
<br />increased $ 10,751, and Municipal Golf Course increased $ 36,091. Other factors concerning the finances of these
<br />funds have already been addressed in the discussion of t he City of New Brighton business-type activities.
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<br />General Fund Budgetary Highlights
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<br />Variances from actual to budget can be briefly summarized as follows:
<br /> Property tax revenues were $ 144,404 more than anticipated in the budget due to higher collection of previous
<br />delinquent taxes.
<br /> Revenue from building permits was $ 62,493 less than anticipated. New building construction activity did not
<br />materialize as projected.
<br /> Recreation program revenues were $ 56,122 more than budgeted due to more recreation program participants,
<br />especially the aquatics program which exceeded expectations by $ 26,331.
<br /> The Community Center revenues were $ 60,517 higher than expected due to more facility rentals and an
<br />increase in the Silver Sneakers program.
<br /> Investment income was less than budgeted by $ 234,956. Interest income ($ 50,736) exceeded the amount
<br />budgeted ($ 30,000). However, as of December 31, 2013, the market interest rate increased causing a negative
<br />adjustment to the fair value of the investment portfolio of $ 255,692.
<br /> Expenditures for Community Development were less than budgeted by $ 91,920. Two positions were
<br />temporarily vacant during the year. Following a resignation, the Building Official position was vacant for a
<br />time period while recruiting took place. The Building Official position was filled by the employee in the
<br />Building Inspector position causing a second temporary vacancy while that p osition was being filled. Both
<br />positions were compensated at a lower rate than their predecessor which was budgeted.
<br /> Personnel expenditures for Police were less than budgeted by $ 155,486 due to personnel shortages. Two
<br />positions were temporarily vacant after the departure of two officers. There were many absences due to injuries
<br />on duty. Also, an officer was deployed for military leave during the year.
<br /> Personnel expenses for Parks and Recreation were $ 92,861 below budgeted amounts due to less seasonal staff
<br />hired than planned for Parks and Forestry, and temporary vacancies in Recreation Programs and the Community
<br />Center.
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<br />Capital Asset and Debt Administration
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<br />Capital assets. The City of New Brighton investment in capital assets for its governmental and business type
<br />activities as of December 31, 2013, amounts to $ 56,592,793 (net of accumulated depreciation). This investment in
<br />capital assets includes land, buildings and structures, improvements, machinery and equipment, park facilities,
<br />roads, highways, and infrastructure. The total decrease in the City of New Brighton investment in capital assets
<br />for the current fiscal year was 2.2% (a 3.1% decrease for governmental activities and a 1.6% increase for business-
<br />type activities).
<br />Major capital asset events during 2013 included the following: reconstruction of City streets, replacement of
<br />machinery and equipment, and replacement of portions of the water distribution, sanitary sewer collection and
<br />stormwater systems.
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