2014 Annual Financial Report - Laserfiche WebLink

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CITY OF CENTERVILLE, MINNESOTA NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2014 Note 5: JOINT POWERS AGREEMENTS - CONTINUED C.Summary financial information of the joint powers agreements entities The contribution to the joint fire district and the joint police commission are reflected as expenditures in the City’s General fund. The fire district and police commission’s assets, liabilities, equity and operations are excluded from the City’s financial statements as further explained in note 1A. The following information is from the financial statements of the District and the Department as of December 31, 2013, the most recent audited information available at the time of this report. The amounts reported for the District are those presented in its government-wide financial statements. These financial statements are available for viewing at the Centerville City hall. Centennial Lakes Police Centennial Department Fire District $ 598,852 Total assets$ 1,911,866 317,391 Total liabilities 150,937 281,461 Total net position 1,760,929 2,219,442 Total revenue 1,239,594 2,275,386 Total expenses 1,066,861 Volunteer firefighters of the District are members of the Centennial Firefighter’s Relief Association (the Association). The Association is a single-employer pension plan (the Plan) that operates under the provisions of Minnesota statutes 69 and 424, as amended. It is governed by a board of six officers and trustees elected by the members of the Association for three-year terms. The ex-officio, non-voting members of the Board of trustees are two representatives from the Centennial Fire Steering Committee and the Fire Chief of the District. The Association issues a publicly available financial report that includes financial statements and required supplementary information. The report may be obtained by writing to the Centennial Fire District 7741 Lake Drive, Lino Lakes, MN 55014. D.North Metro Telecommunications Commission The general purpose of the Commission is to award, administer and enforce a cable communications franchise in member municipalities. The member Cities included the City of Blaine, Centerville, Circle Pines, Ham Lake, Lexington, Lino Lakes, and Spring Lake Park. Each member has a representative on the Commissions Board. st E.21 Avenue Street and utility improvements The City entered into a joint agreement with the City of Lino Lakes for the reconstruction of 21st Avenue Street and related utility improvements. The cities of Centerville and Lino Lakes will jointly participate and share costs related to the project. The City of Lino Lakes will administer the project and bill the City of Centerville for their share of the costs. -63-