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<br />Arden Hills Popular Annual Financial Report 2006
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<br />Page,13 . ,
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<br />Governmental Expenditures -
<br />
<br />The City of _\rden Hills prides itself on controlling spending while
<br />providing the best services possible. In 2006 the City's expendi-
<br />tures totaled $5,810,836, up 16 percent from 2005. This chart high-
<br />lights the
<br />City's ability to
<br />control its
<br />expenditures
<br />over a several
<br />year period.
<br />This graph
<br />demonstrates
<br />the City's pri-
<br />orities over
<br />
<br />Five Year Expenditure Comparison
<br />
<br />$7,000,000
<br />$6,000.000
<br />$5,000,000
<br />$4.000,000
<br />$3.000,000
<br />$2,000,000
<br />$1,000.000
<br />$0
<br />
<br />
<br />
<br />
<br />I
<br />
<br />different de-
<br />
<br />2002 2003
<br />
<br />partments
<br />
<br />\.vithin the
<br />
<br />iii Debt Service individual year.
<br />. Parks and Recreation
<br />!ill Miscellaneous
<br />[g! General Govenunent
<br />
<br />2004 2005
<br />
<br />2006
<br />
<br />!II Public Safety
<br />o Public VVorks
<br />fi Capital Outlay
<br />~ Econornic Development
<br />
<br />
<br />Arden Hills maintains an
<br />'\\ +" rating from Standard
<br />& Poor's and Fitch and an
<br />"Aa" rating from j'\iloody's
<br />for general obligation debt,
<br />The Cit, issued G.o. Tax
<br />Increment bonds in 1998,
<br />which are budgeted to be
<br />paid III full the 2015 fiscal
<br />I-ear. These Tax InCrCITlCnt
<br />Financing (TIF) districts are
<br />an important economic de-
<br />'\'dopm_ent tool employed
<br />by the City. Arden Hills'
<br />TIF districts are located
<br />along Round Lake Road and
<br />Cottage Villas,
<br />
<br />In 2004 the City of Arden
<br />Hills decided to refinance its
<br />debt
<br />because
<br />of lower
<br />
<br />order to do this the City had
<br />to pay the previous bond in
<br />full, therefore causing the
<br />spike in the diagram to the
<br />right. The chart also shows
<br />the City is committed to
<br />repaying its debt in a timely
<br />manner. 2006 revenues
<br />\-vere $57 in interest, expen-
<br />ditures were $262,250, and
<br />transfers in from TIF dis-
<br />tricts were $262,250.
<br />
<br />in teres t
<br />rates. [n
<br />
<br />Special Revenue Funds
<br />
<br />The City of ~-\rden Hills has eight funds that make the special reve-
<br />nue fund. Special revenue funds are used to account for revenues
<br />derived from specific taxes or other earmarked revenue sources.
<br />They are usually required by statute, local ordinance, and/or resolu-
<br />tion to fmance particular functions, activities, or governments.
<br />
<br />(Note: TC~.-\....\P expenditures were greater than revenues as devel-
<br />oper reimbursements were not received until 2007.)
<br />
<br /> 2006 Revenues 2006 Expenditures
<br />Community Scn'iccs 574,837 5U
<br />Parks 8,338 .12,OllO
<br />Cablc 82,248 91,358
<br />TC\.\P 49,3t8 172,378
<br />Risk lvlanagcment 27,75.) 1.1,218
<br />ED;\ Operating 788,845 81.1,710
<br />EDA Revolving 6,241 II
<br />ED.\ TIF District No 2 430,813 2,5(,7
<br />EDl\ TtF District No.) 48,473 (,,%4
<br />Total $1,513,866 $1,166,800
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<br />(For more information on the specific funds descriptions, please see
<br />the C.-\FR.)
<br />
<br />City of Arden Hiffs Outstanding Debt
<br />
<br />$6,000,000
<br />$4,000,000
<br />
<br />$2,000,000
<br />$0
<br />20002002 2004200620082010 2013 2015
<br />
<br />l~~lijJJLi .~ijL~~ ~ ~
<br />
<br />g G.O. Tax Increment Bonds
<br />
<br />Parks
<br />
<br />
<br />The City has 13 parks which
<br />are constantly being npgrnded
<br />and improv,?d. <the Parks d .
<br />Recreatid"" .,'
<br />
<br />Park for $747.08, siding an pan-
<br />eling for
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