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Legal Notices

Posted on: October 9, 2019

2018 Annual Financial Report

ANNUAL REPORT FOR CITY OF BROOKINGS
AS OF AND FOR THE YEAR ENDED DECEMBER 31, 2018

GOVERNMENTAL FUNDS--MODIFIED ACCRUAL BASIS

General Fund Other Governmental Funds Total Governmental Funds
Beginning Balance 15,741,364 8,244,069 23,985,433

Revenues and Other Sources:
Taxes:
Property Taxes 3,110,021 1,593,836 4,703,856
General Sales and Use Taxes 6,900,770 7,786,250 14,687,019
Amusement Taxes 1,596 1,596
911 Telephone Surcharge 370,537 370,537
Penalties and Interest on
Delinquent Taxes 3,984 3,984
Storm Drainage Tax 989,359 989,359
Licenses and Permits 345,587 345,587
Intergovernmental Revenues:
State Grants 56,009 291,469 347,478
State Shared Revenue 457,445 457,445
County Shared Revenue: 275,873 275,873
Other Intergovernmental Revenue 0 96,500 96,500
Charges for Goods and Services:
Public Safety 8,910 8,910
Highways and Streets 315 315
Health 8,845 8,845
Culture and Recreation 399,866 2,193,779 2,593,645
Fines and Forfeits 82,105 21,008 103,113
Miscellaneous Revenue and Other Sources:
Investment Earnings 194,646 173,905 368,551
Rentals 99,886 99,886
Special Assessments 0 220,979 220,979
Contributions and Donations
from Private Sources 93,975 93,975
Liquor Operating
Agreement Income 653,497 653,497
Other Revenues 608,020 300,797 908,817
Total Revenue and Other Sources 13,301,349 14,038,416 27,339,765

Expenditures and Other Uses:
Legislative 93,920 93,920
Executive 744,922 744,922
Financial Administration 708,661 708,661
Other General Government 1,185,912 295,685 1,481,597
Police 3,403,728 195,669 3,599,397
Fire 555,299 102,007 657,306
Other Protection 94,415 734,142 828,557
Highways and Streets 2,842,288 2,027,344 4,869,632
Engineering 476,881 288,922 765,803
Community Development 475,254 1,473,168 1,948,423
Other Health and Welfare 101,306 113,602 214,908
Recreation 655,729 2,508 658,236
Parks 3,032,078 313,294 3,345,372
Libraries 1,097,766 35,784 1,133,549
Auditorium 0 2,777,521 2,777,521
Economic Development and Assistance
(Industrial Development) 0 16,198 16,198
Debt Service 0 3,226,127 3,226,127
Capital Outlay 0 270,330 270,330
Other Expenditures 0 16,166 16,166
Total Expenditures and Other Uses 15,468,160 11,888,465 27,356,625

Transfers In (Out) 3,185,376 (305,146) 2,880,230
Special Item (specify) 3,700 3,700

Increase/Decrease in Fund Balance 1,022,265 1,844,804 2,867,070

Ending Balance: 16,763,629 10,088,873 26,852,502
Nonspendable 2,743,864 37,656 2,781,520
Restricted 56,532 1,065,733 1,122,266
Committed 4,022,621 8,540,497 12,563,118
Assigned 1,868,278 1,694,207 3,562,485
Unassigned 8,072,334 (1,249,220) 6,823,114

Governmental Long-term Debt 22,885,386

PROPRIETARY FUNDS--ACCRUAL BASIS

Electric Wastewater Health System Telephone Other Enterprise Funds
Beginning Balance* 44,663,327 25,393,844 71,671,764 40,065,856 66,401,179

Revenues 30,354,463 5,667,674 67,205,567 30,846,434 14,044,620

Expenses 25,153,120 4,131,978 68,191,472 30,338,317 11,636,527

Transfers In (Out) (2,105,000) 0 0 (200,000) (575,230)

Ending Balance:
Restricted 1,218,103 414,648 5,766,911 1,634,937 5,115,662
Unrestricted 17,546,102 13,493,597 30,261,688 22,307,877 22,773,989

Long-term Debt 6,577,661 27,336,804 35,924,277 1,837,500 382,065
* After restatement due to adoption of new accounting standard

The preceding financial data does not include fiduciary funds or component units. Information pertaining to those
activities may be obtained by contacting the municipal finance officer at 697-8640.

Municipal funds are deposited as follows:

Depository Amount
Bank Star 8,304,522
Dacotah 14,081,172
Dakotaland Federal Credit Union 750,497
First Bank & Trust 63,839,963
Great Western 37,756
Metabank 6,187,901
SD FIT 7,000,672
Security National 4,224
Wells Fargo 26,586,594



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