HomeMy WebLinkAbout05.19.25
CITY OF ST. JOSEPH
www.cityofstjoseph.com
75 Callaway Street East | Saint Joseph, Minnesota 56374
Email: cityoffices@cityofstjoseph.com | Phone: 320.363.7201 | Fax 320.363.0342
St. Joseph City Council
May 19, 2025
6:00 PM
Join Zoom Meeting
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1. Call to order - Pledge of Allegiance
2. Public Comments Up to 3 speakers will be allowed for up to 3 minutes each to address
the council with questions/concerns/comments (regarding an item NOT on the agenda). No
Council response or action will be given/taken other than possible referral to Administration.
3. Approve Agenda
4. Consent Agenda
a. Minutes – Requested Action: Approve the minutes of May 5, 2025.
b. Bills Payable – Requested Action: Approve check numbers 62981-63018, ACH account
payable # 2400293-2400311; Payroll & Accounts Payable EFT #3702-3717; Regular Pay
Period 10.
c. Financial Report – Requested Action: Accept the April 2025 financial reports as
presented.
d. Donations – Requested Action: Approve Resolution 2025-031 accepting donations and
contributions.
e. Approval of Temporary On-Sale Liquor License – Requested Action: Approve the
temporary on-sale liquor license submitted by Bad Habit Brewing Company for Make a
Difference 5K/1K on September 13, 2025.
f. Approval of Temporary On-Sale Liquor License – Requested Action: Approve the
temporary on-sale liquor license submitted by Mad Hatter Whiskey dba Obbink Distilling
for White Peony Summer Market on June 7, 2025.
g. Special Home Occupation License, Pondview Lane – Requested Action: Approve
Resolution 2025-029 Adopting Findings of Fact for a Special Home Occupation License
Renewal for Massage Therapy at 201 Pondview Lane.
h. Interim Use Permit, Rental – Requested Action: Approve Resolution 2025-030
Approving IUP for the Purpose of a Residential Rental in a B-2 Highway Commercial
District.
i. 4th Quarter Gambling Reports – Requested Action: Approve the 4th Quarter Gambling
Reports as presented.
j. Millstream Softball Fence – Requested Action: Approve the quote from Authority Fence
& Deck in the amount of $31,000 for a new fence on the east field at Millstream Park.
k. 2025 Street Maintenance – Requested Action: Approve the bid from ASTECH in the
amount of $91,239.02 for crack seal and seal coating for 2025.
5. Continuation of Public Hearing for Elm Street East Assessments
6. 2024 Audit Presentation
7. Department Reports
8. Mayor and Council Reports/Updates
9. Closed Session – Pursuant to MN Statute 13D.05 Subd. 3(c), the City Council will enter into a
closed session to discuss the potential purchase of Parcel 84.53795.0200 located at 423 4th
Ave NE, St. Joseph, MN 56374.
10. Adjourn
May 5, 2025
Page 1 of 2
Pursuant to due call and notice thereof, the City Council for the City of St. Joseph met in regular session on
Monday, May 5th, 2025, at 6:00PM in the St. Joseph Government Center.
Members Present: Mayor Adam Scepaniak, Councilmembers Adam Schnettler, Kevin Kluesner, Andrew
Mooney
City Representatives Present: City Administrator David Murphy, City Clerk Kayla Klein, Community
Development Director Nate Keller, Finance Director Lori Bartlett, Public Works Director Ryan Wensmann,
Police Chief Dwight Pfannenstein, City Engineer Randy Sabart
Public Comments: None.
Approve Agenda: Kluesner moved to approve the agenda; seconded by Mooney and passed
unanimously by those present.
Consent Agenda: Kluesner moved to approve the consent agenda; seconded by Schnettler and passed
unanimously by those present.
a. Minutes – Requested Action: Approve the minutes of April 21, 2025.
b. Bills Payable – Requested Action: Approve Check Numbers 62951-62980, Payroll & Account
Payable EFT #3684-3701; ACH Accounts Payable #2400269-2400292; Regular Pay Period 9.
c. Resolution 2025-027 Beltline Transportation Project Cost-Sharing Agreement – Requested
Action: Approve Resolution 2025-027 approving the Beltline Transportation Project Cost-Sharing
Agreement.
d. Accept police officer resignation and authorize hire for replacement – Requested Action: Accept
resignation of Officer Nathan Vossen and authorize hire for his replacement.
Short-term Rental, 24 MN St E: This item was tabled from last meeting due to an issue with the adobe file. The
form was corrected. Kluesner moved to approve Resolution 2025-026 Conditional Use Permit Approval
for Short-term Rental in a R-1 Single Family Residential Property; seconded by Scepaniak and passed
unanimously by those present.
Resolution 2025-028 Approving Plans & Specifications and Authorizing Advertisement for Bids for the 2025
Street Improvement Project: Kluesner moved to approve Resolution 2025-028 Approving Plans &
Specifications and Authorizing Advertisement for Bids for the 2025 Street Improvement Project;
seconded by Mooney and passed unanimously by those present.
RSVP Presentation: Jennifer Wucherer, RSVP Program Director, was present to provide the 2024 report.
There are 47 seniors in St. Joseph that served 4,392 hours in the region. The city currently contributes $6,537
to this organization and that number is based off the number of volunteers the city has.
Resident Kris Peterson spoke about how RSVP has helped her find connections since her husband’s passing.
Mayor Scepaniak asked why there haven’t been many volunteer hours dedicated to the city’s park and
recreation needs.
Wucherer stated that their system is setup so that seniors can choose what they want to volunteer for. All
opportunities are listed in their system and staff works with the seniors to sign up for opportunities they feel
best matches their interests.
The report is for informational purposes and no action was taken.
Department Reports: Community Development Director provided council with an update on Planning/Zoning
Items as well as anticipated development.
Administrator Murphy noted that the will be in the office half days Wednesday – Friday and will be out one day
next week.
Mayor and Council Reports/Updates: No Updates
May 5, 2025
Page 2 of 2
Adjourn: Kluesner made a motion to approve to adjourn the meeting at 6:35PM; seconded by
Mooney and passed unanimously.
Kayla Klein
City Clerk
STAFF MEMO
Prepared by:
Debbie Kulzer
Meeting Date:
5/19/25
☒ Consent Agenda Item
☐ Regular Agenda Item
Agenda Item #
4b
Reviewed by:
Item:
Bills Payables
ACTION REQUESTED Approve the bills payables as presented.
BOARD/COMMISSION/COMMITTEE RECOMMENDATION none
PREVIOUS COUNCIL ACTION See below
REFERENCE AND BACKGROUND
The council approved staff to make the following payments through the payroll contracts, regular
monthly invoices with due dates prior to the next scheduled council meeting, or actions taken at
previous council meetings. The information here is to provide you with all checks and electronic
payments made for verification of the disbursement completeness.
BUDGET IMPACT
Bills Payable – Checks Mailed Prior to Council Approval
Regular PP 10 $76,213.31
Payroll & Accounts Payable EFT #3702 - #3717 $117,903.78
ACH Accounts Payable #2400293 - #2400311 $14,165.34
Check Numbers #62981 - #63018 $100,431.67
Total $308,714.10
Bills Payable – Checks Awaiting Council Approval
Check Numbers - None at this time $0.00
Total $0.00
Total Budget/Fiscal Impact: $308,714.10
Various Funds
STAFF RECOMMENDED ACTION
Approve the bills payables as presented.
SUPPORTING DATA/ATTACHMENTS
Bill listing by EFT, paid prior to council approval and awaiting to be paid upon council approval.
GL Check Check Vendor Invoice Invoice Check
Period Issue Date Number Number Payee Number GL Account Amount
25-May 5/14/2025 ACH PAYROLL REG PP 10 VARIOUS 76,213.31$
25-Apr 4/25/2025 3702 108126 WEX 0002140139-IN 101-41430-300 22.00$
25-May 5/7/2025 3703 107770 CIRCLE K FLEET - HOLIDAY APRIL 25 STMT 602-49450-205 199.77$
25-May 5/7/2025 3704 106514 DELTA DENTAL RIS0006354935 101-21706 2,631.69$
25-May 5/7/2025 3705 108269 FORTE PAYMENTS INC 0013544039, 0013544276 101-41430-300 253.86$
25-May 5/7/2025 3706 106422 KWIK TRIP APRIL 25 STMT - PD 101-42152-230 1,952.93$
25-May 5/7/2025 3706 106422 KWIK TRIP APRIL 25 STMT - PW & FIRE 602-49450-205 2,128.49$
25-May 5/7/2025 3707 107068 MEDICA MAY 2025 STMT 101-21706 41,343.12$
25-May 5/7/2025 3708 1349 NCPERS GROUP LIFE INSURANCE 7.35E+11 101-21711 73.00$
25-May 5/7/2025 3709 106563 PAYMENT SERVICE NETWORK 310011, 310028 101-41530-300 399.40$
25-May 5/7/2025 3710 100136 XCEL ENERGY 925143057 210-42280-381 14,071.83$
25-May 5/14/2025 3711 106468 AMERICAN FUNDS PR0509251 101-21705 150.00$
25-May 5/14/2025 3712 1224 EFTPS PR0509251 101-21703 23,980.70$
25-May 5/14/2025 3713 897 MN DEPARTMENT OF REVENUE PR0509251 101-21702 5,147.36$
25-May 5/14/2025 3714 63 PERA PR0509251 101-21704 21,370.46$
25-May 5/14/2025 3715 105209 SENTRY BANK PR0509251 101-21715 1,272.92$
25-May 5/14/2025 3716 106189 VOYA FINANCIAL PR0509251 101-21705 2,150.00$
25-May 5/14/2025 3717 108126 WEX PR0509251 101-21715 756.25$
25-May 5/1/2025 2400293 108310 ACME TOOLS 14287861 101-45202-210 108.00$
25-May 5/1/2025 2400293 108310 ACME TOOLS 14289023 101-43201-210 43.78$
25-May 5/1/2025 2400293 108310 ACME TOOLS 14289402 109-43201-580 412.14$
25-May 5/1/2025 2400294 2003 BRAUN INTERTEC ENGINEERING IN B425372 601-49440-300 1,060.00$
25-May 5/1/2025 2400295 105328 CITY OF WAITE PARK 65490 101-45204-220 193.50$
25-May 5/1/2025 2400296 76 DSC COMMUNICATIONS DBA GRAN 2504319 210-42250-220 148.50$
25-May 5/1/2025 2400296 76 DSC COMMUNICATIONS DBA GRAN 2504322 210-42250-220 149.75$
25-May 5/1/2025 2400297 108394 FACTORY MOTOR PARTS 124-283950 101-42152-230 83.08$
25-May 5/1/2025 2400297 108394 FACTORY MOTOR PARTS 124-283965 101-42152-230 6.73$
25-May 5/1/2025 2400298 342 FASTENAL COMPANY MNST1217597 602-49450-220 50.40$
25-May 5/1/2025 2400299 108401 FERGUSON CS745577 602-49480-220 1,750.43$
25-May 5/1/2025 2400300 108284 FES INC 21464 210-42220-210 218.33$
25-May 5/1/2025 2400300 108284 FES INC 21473 210-42220-214 1,550.00$
25-May 5/1/2025 2400301 529 GOODIN COMPANY 5468088-00 210-42220-585 1,163.00$
25-May 5/1/2025 2400302 1145 LAW ENFORCEMENT LABOR SERVIC 26 101-21707 657.00$
25-May 5/1/2025 2400303 151 MACQUEEN EMERGENCY INC P05380 210-42220-210 141.40$
25-May 5/1/2025 2400304 107738 MIKE'S ELECTRIC 3283 210-42280-300 300.00$
25-May 5/1/2025 2400305 1616 MVTL LABORATORIES INC 1301605 602-49480-312 572.50$
25-May 5/1/2025 2400305 1616 MVTL LABORATORIES INC 1302159 602-49480-312 160.50$
25-May 5/1/2025 2400306 105529 NELSON SANITATION & RENTAL INCINV/2025/4225 101-45202-300 120.29$
25-May 5/1/2025 2400306 105529 NELSON SANITATION & RENTAL INCINV/2025/4226 101-45202-300 120.29$
25-May 5/1/2025 2400306 105529 NELSON SANITATION & RENTAL INCINV/2025/4227 101-45202-300 65.00$
25-May 5/1/2025 2400307 106764 O REILLY AUTO PARTS 5771-371908 210-42220-210 11.46$
25-May 5/1/2025 2400307 106764 O REILLY AUTO PARTS 5771-372700 101-42152-230 21.14$
25-May 5/1/2025 2400307 106764 O REILLY AUTO PARTS 5771-373041 602-49450-230 20.99$
25-May 5/1/2025 2400307 106764 O REILLY AUTO PARTS 5771-373152 101-45202-230 20.93$
25-May 5/1/2025 2400308 102597 PRECISE REFRIGERATION INC SD10217 210-42281-300 856.30$
25-May 5/1/2025 2400308 102597 PRECISE REFRIGERATION INC SD10289 210-42281-220 582.50$
25-May 5/1/2025 2400309 103545 SUMMIT FIRE PROTECTION 3188763 602-49450-220 758.60$
25-May 5/1/2025 2400309 103545 SUMMIT FIRE PROTECTION 3192902 601-49440-220 133.80$
25-May 5/1/2025 2400310 107839 TOTAL ENERGY SYSTEMS LLC INV138793 210-42280-300 325.00$
25-May 5/1/2025 2400311 107953 WEISMAN CLEANING INC 7376 210-42280-300 2,360.00$
25-May 5/1/2025 62981 1238 AFSCME COUNCIL 65 26 101-21707 814.58$
25-May 5/1/2025 62982 158 AMERICAN TEST CENTER 2250034 210-42260-230 907.00$
25-May 5/1/2025 62983 268 AMERICAN WATER WORKS ASSOC.SO229122 601-49440-433 252.00$
25-May 5/1/2025 62984 106494 BRUNO PRESS 26 220-46500-300 750.00$
25-May 5/1/2025 62985 108212 Buersken, Jeff 2025 - 1ST QTR STIPEND 101-41120-103 80.00$
25-May 5/1/2025 62986 108337 HODGE, MILTON E.2025 - 1ST QTR STIPEND 101-41120-103 120.00$
25-May 5/1/2025 62987 1 LEES ACE HARDWARE MARCH 25 STMT - FIRE 210-42220-210 798.14$
25-May 5/1/2025 62988 108397 LYON MLM PROPOERTIES LLC PRECISE HEATING ESCROW 101-43131-303 2,600.50$
25-May 5/1/2025 62989 108400 PLAN IT SOFTWARE LLC PLAN-2049 109-41430-582 6,000.00$
25-May 5/1/2025 62990 106157 RENNECKE, ANDREW 2025 - 1ST QTR STIPEND 101-41120-103 120.00$
25-May 5/1/2025 62991 107582 SCHLEPER, KEITH 2025 - 1ST QTR STIPEND 101-41120-103 120.00$
25-May 5/1/2025 62992 611 STEARNS COUNTY HIGHWAY DEPA 102-2025 101-41910-300 90.00$
25-May 5/1/2025 62993 107583 STENMAN, ELIJAH 2025 - 1ST QTR STIPEND 101-41120-103 120.00$
25-May 5/1/2025 62994 2022 UNUM LIFE INSURANCE APRIL 25 STMT 101-21713 2,237.42$
25-May 5/2/2025 62995 106890 BYE, JOSEPH 2025 - 1ST QTR STIPEND 250-46500-103 120.00$
25-May 5/2/2025 62996 103578 DULLINGER, GINA 2025 - 1ST QTR STIPEND 101-41120-103 40.00$
25-May 5/2/2025 62997 108210 Hazen, Jonathan 2025 - 1ST QTR STIPEND 101-41120-103 120.00$
25-May 5/2/2025 62998 1546 HOSCH, LARRY 2025 - 1ST QTR STIPEND 250-46500-103 120.00$
25-May 5/2/2025 62999 108399 HULS, ROSS 2025 - 1ST QTR STIPEND 250-46500-103 80.00$
25-May 5/2/2025 63000 103876 LOUWAGIE, KEITH 2025 - 1ST QTR STIPEND 101-41120-103 80.00$
25-May 5/2/2025 63001 108262 MARGL, ISABELLA 2025 - 1ST QTR STIPEND 101-41120-103 120.00$
25-May 5/2/2025 63002 107634 MICK, CARMIE 2025 - 1ST QTR STIPEND 101-41120-103 80.00$
25-May 5/2/2025 63003 108209 Thompson, Mark 2025 - 1ST QTR STIPEND 101-41120-103 80.00$
25-May 5/9/2025 63004 108267 ANDERSON-CRANE RUBBER COMPA W27309401 601-49420-210 137.12$
25-May 5/9/2025 63005 104694 BADGER METER INC 80192315 601-49430-300 1,482.91$
25-May 5/9/2025 63006 160 CITY OF ST. CLOUD AR034402 602-49480-602 69,708.02$
25-May 5/9/2025 63007 108402 DELACRUZ, ADRIAN MILLSTREAM DAMAGE DEPOSIT 101-45202-34782 98.00$
25-May 5/9/2025 63008 108403 DEMAND & PRECISION PARTS COM 57927 205-45202-580 6,123.00$
25-May 5/9/2025 63009 108224 GILLELAND CHEVROLET CADILLAC I 1069428 602-49450-230 186.08$
25-May 5/9/2025 63010 107159 KRILLAN INC.14004 101-45204-308 1,689.15$
25-May 5/9/2025 63011 1 LEES ACE HARDWARE APRIL 25 STMT - PD 101-42120-210 7.99$
25-May 5/9/2025 63011 1 LEES ACE HARDWARE APRIL 25 STMT - PW 101-45202-220 9.54$
25-May 5/9/2025 63012 105417 MIDCONTINENT COMMUNICATION 1.64557E+13 602-49480-321 2,973.02$
25-May 5/9/2025 63013 211 MINNESOTA BCA 41053 101-42140-300 1,125.00$
25-May 5/9/2025 63014 105242 MINNESOTA SECRETARY OF STATE NOTARY APPLICATION - FETTERE 101-41430-300 120.00$
25-May 5/9/2025 63015 108304 REAL TIME TRANSLATION 118923 101-42120-300 36.40$
25-May 5/9/2025 63016 571 STEARNS COUNTY RECORDER 202500000340, 202500000358 101-41910-431 114.00$
25-May 5/9/2025 63017 107773 STERICYCLE INC 8010683938 101-42120-300 73.95$
25-May 5/9/2025 63018 108396 STRAIGHTLINE AUTO GLASS FORD F150 2021 MODEL 101-42152-230 697.85$
None at this time
Payroll
76,213.31$
Accounts Payable & Payroll EFT
117,903.78$
ACH Accounts Payable
14,165.34$
Check #'s
100,431.67$
Council Approval Checks
$0.00 None at this time
$308,714.10
STAFF MEMO
Prepared by:
Lori Bartlett
Meeting Date:
5-19-25
☒ Consent Agenda Item
☐ Regular Agenda Item
Agenda Item #
4c
Reviewed by:
Item:
April Treasurer’s Report
ACTION REQUESTED
Consider acceptance of the treasurer’s reports through April 2025.
BOARD/COMMISSION/COMMITTEE RECOMMENDATIONnone
PREVIOUS COUNCIL ACTION
Adopted 2025 budget on December 2, 2024. The council approved the 1st quarter and monthly
financial reports through March 2025.
REFERENCE AND BACKGROUND
Cash/investment presented as April 31, 2025. Budget to actual reports attached for Council review. The
first couple months of the year may show activity from the previous year until the 2024 audit entries are
completed in 2024 and reversed in 2025. The reversals will be posted in May with the 2024 audited
financial statements being accepted by the council.
The cash and investment balance decreased $63,634 since the beginning of the year. The first half of the
year is expected to spend down cash. The first large inflow of cash is the first half tax and assessment
settlement between June and July. The City plans on carrying over a working capital fund balance from
the previous year of 4-6 months as a result to cover budgeted operations over this period. Investments
are structured to ensure cash flow is available to cover invoices and payroll during the first six months.
The working capital from 2024 came in at 6.6 months of the 2025 expenditures, better than policy.
Investment earnings average 3.81% interest rate with an average maturity of 25 months. Interest
earnings for April equaled $51,825 on an ending cash balance of $25,368,538. The change in market
value increased $94,921 in April. Recorded interest earnings as of April 30th total $501,948.
The General fund spent 30% of the expenditure budget and received 11% of the revenue budget at the
end of April. While revenues and expenditures are operational in nature, a couple early expenditures
occur during the early months of the year. Interest earnings (including a change in market values on
investments booked) are over budgeted amount. The city budgets conservatively on interest earnings
since this number can fluctuate greatly with the change in market value adjustments. Room and shelter
rentals are 82% of the budget. Most of the rentals are received at the beginning of the year as folks try to
reserve the popular dates and periods as soon as they can. Liquor licenses are over budget. The licenses
renewals are once per year and completed in the spring. Unique to 2025, the city received 10% of the
LGA proceeds in March. State Legislature approved a one-time early distribution for 2025. For
expenditures, dues and memberships are at 93%. Most of the renewals occur at the beginning of the
year. As stated last month, the general liability insurance premium renews in the beginning of the year
for the year. A few capital expenditures were incurred. Squad and equipment, ACA and CIP software,
mechanic tools and engineering costs for the CR121 pedestrian crossing were expensed. Lobbying costs
were also expensed in the period.
The Enterprise funds spent 22% (less depreciation) and received 33% of the revenue budget. The revenue
includes usage billed for Jan. through Apr. Other revenues such as interest earnings and cellular antenna
leases are received monthly. Expenses are for four operational months. The water fund incurred $13k in
expenses for water main breaks with the extreme cold and warm up in Jan/Feb. Without a deep snow
pack, the frost pushes down on the water mains creating more of an issue. Operating supplies for water
distribution are significant. The 500 cellular meter end points were ordered for the conversion project in
2025. Due to supply chain delays, the end points need to be ordered early for the late summer/fall
project. In the sewer fund, the city paid for design costs to St. Cloud for their 2025 Digester
Improvements & Renewable Energy Project (DIRE). Other expenses are operational in nature for April
including contract payments for sewer treatment, refuse/recycling and composting.
BUDGET IMPACT
Information only
STAFF RECOMMENDED ACTION
Accept the treasurer’s reports through April 2025.
SUPPORTING DATA/ATTACHMENTS
Financial Statements – Cash Allocation
Financial Statements – General Fund
Financial Statements - Enterprise Funds
CITY OF ST JOSEPH
COMBINED CASH INVESTMENT
APRIL 30, 2025
COMBINED CASH ACCOUNTS
001-10100GENERAL CHECKING25,368,538.32
TOTAL COMBINED CASH25,368,538.32
001-10199CASH ALLOCATED TO OTHER FUNDS( 25,368,538.32)
TOTAL UNALLOCATED CASH.00
CASH ALLOCATION RECONCILIATION
101ALLOCATION TO GENERAL FUND1,921,838.72
102ALLOCATION TO EMPLOYEE RETIREMENT RESERVE400,939.77
106ALLOCATION TO PUBLIC SAFETY AID104,248.85
108ALLOCATION TO CABLE PEG ACCESS FEE7,291.59
109ALLOCATION TO GENERAL CAPITAL OUTLAY586,765.19
110ALLOCATION TO DEBT SERVICE RELIEF1,021,007.59
200ALLOCATION TO ST CLOUD AREA LOCAL SALES TAX1,290,461.40
205ALLOCATION TO PARK DEDICATION FEES407,845.78
210ALLOCATION TO FIRE DEPARTMENT656,689.69
215ALLOCATION TO CHARITABLE GAMBLING2,269.91
220ALLOCATION TO CVB30,473.51
225ALLOCATION TO DEED CDAP HOUSING GRANTS59,478.34
250ALLOCATION TO EDA88,812.67
251ALLOCATION TO REVOLVING LOAN FUND588,047.17
253ALLOCATION TO TIF 4-1 FORTITUDE SENIOR APTS37,482.12
257ALLOCATION TO TIF 2-1 MILLSTREAM SHOPS LOFTS49,375.39
259ALLOCATION TO TIF 2-3 BAYOU BLUES ALLEY FLAT358.41
301ALLOCATION TO 2016 CIP BONDS \[GOVT CENTER\]68,498.81
302ALLOCATION TO 2022A GO ABATE BONDS\[COMMCTR1\]1,383,272.15
304ALLOCATION TO 2016 IMP BONDS \[FIELD ST\]181,655.82
307ALLOCATION TO 2019A IMP BONDS \[OVERLAYS\]201,342.90
308ALLOCATION TO 2019A IMP BONDS \[IND PARK\]1,380,400.13
309ALLOCATION TO 2020A EQUIPMENT CERTIFICATES410.64
310ALLOCATION TO 2020B IMP BONDS \[20TH AVE SE\]411,062.88
311ALLOCATION TO 2021 IMP BOND \[MN ST/OVERLAYS\]625,007.57
312ALLOCATION TO 2020B CIP BONDS \[SHOP 3\]3,847.98
313ALLOCATION TO 2020B REFUND BONDS \[2013 ST\]311.04
314ALLOCATION TO 2020C CO REFUND \['14 PARK TER\]7,018.92
315ALLOCATION TO 2022 IMP BONDS \[OVERLAYS\]38,566.87
316ALLOCATION TO 2022A EQUIP CERT \[FD TRUCK\]26,500.60
317ALLOCATION TO 2023A IMP \[OVERLAY/ELM ST ROW\]159,822.58
318ALLOCATION TO 2023A EQUIP CERT \[GEN EQ\]29,367.44
319ALLOCATION TO 2024A GO IMP BONDS \[ST IMP\]188,253.79
402ALLOCATION TO COMMUNITY CENTER PHASE I6,012,801.15
417ALLOCATION TO 2023 ST IMP/'24 ELM ST ROW ACQ602,457.21
418ALLOCATION TO 2023 EQUIP CERTIFICATES29,700.82
419ALLOCATION TO FUND 419389,615.38
420ALLOCATION TO FUND 420( 25,859.40)
421ALLOCATION TO FUND 421( 20,000.00)
501ALLOCATION TO WAC/WATER TRUNK FEES321,191.14
502ALLOCATION TO SAC/SEWER TRUNK FEES73,247.73
601ALLOCATION TO WATER FUND1,374,091.14
602ALLOCATION TO SEWER FUND3,534,601.52
FOR ADMINISTRATION USE ONLY33 % OF THE FISCAL YEAR HAS ELAPSED05/14/2025 04:15PM PAGE: 1
CITY OF ST JOSEPH
COMBINED CASH INVESTMENT
APRIL 30, 2025
603ALLOCATION TO REFUSE/RECYCLING/COMPOST276,279.37
651ALLOCATION TO STORM WATER UTILITY693,109.99
652ALLOCATION TO STREET LIGHT UTILITY148,576.05
TOTAL ALLOCATIONS TO OTHER FUNDS25,368,538.32
ALLOCATION FROM COMBINED CASH FUND - 001-10199( 25,368,538.32)
ZERO PROOF IF ALLOCATIONS BALANCE.00
FOR ADMINISTRATION USE ONLY33 % OF THE FISCAL YEAR HAS ELAPSED05/14/2025 04:15PM PAGE: 2
City of St. Joseph
General Fund Balance Sheet Summary
As of April 30, 2025
Account NumberAccount Name4/30/2025
Assets
101-10199Cash$ 1,921,838.72
102-10199Cash 400,939.77
104-10199Cash -
106-10199Cash 104,248.85
108-10199Cash 7,291.59
109-10199Cash 586,765.19
110-10199Cash 1,021,007.59
101-10200Petty Cash 200.00
101-10450Interest Receivable 22,503.60
101-10500Accounts Receivable 51,985.45
108-10500Accounts Receivable 373.44
101-10520State MSAS Receivable 981,577.46
109-10500Accounts Receivable -
109-10550Due From other Gov tUnits 9,391.29
102-10550DFOGU 72.53
101-10550Due From Other Gov Units 15,094.65
110-10550Due From other Gov tUnits 1,889.47
110-10600Prepaids -
101-10600Prepaid Items -
110-10700Taxes Receivable - Delinquent 316.28
101-10700Taxes Receivable - Delinquent 11,479.62
101-11800Lease Receivable 8,324.64
110-12100Special Assessments Receivable 191,866.39
101-12100Special Assessments Receivable 674.63
110-12150Delinquent Special Assmt -
110-15500Due From Other Fund -
101-15500Due From Other Fund -
Total Assets$ 5,337,841.16
Liabilities
101-20200Accounts Payable (13,210.40)
102-20200Accounts Payables -
106-20200Accounts Payable -
104-20200ARPA Accounts Payable -
108-20200Accounts Payable -
109-20200Accounts Payable (6,412.14)
110-20200Accounts Payable -
101-20201Salaries Payable (76,471.63)
109-20202Due to Other Govt Units -
101-20202Due to Other Govt Units (6,724.01)
101-21701Federal Withholding -
101-21702State Withholding -
101-21703FICA Tax Withholding -
101-21704PERA (0.03)
101-21705Deferred Comp -
101-21706Medical/Dental Insurance (4,918.77)
101-21707Federation Dues (110.86)
101-21711Life Insurance 33.27
101-21712Fire Dept Lunch Liability -
101-21713Disability Insurance 174.45
101-21714Child Support -
101-21715Flex- Medical/H SA (750.00)
101-21716Flex- Dependent Care Reimb (4,999.92)
101-22200Unearned Revenue (987,177.46)
104-22200Unearned Revenue -
110-22204Deferred Inflow of Resources (192,182.67)
101-22204Deferred Inflow of Resources (20,478.89)
101-22600Deposit Payable -
Total Liabilities (1,313,229.06)
Fund Equity
Funds 101-110Revenue Under Expenditures YTD 1,104,599.48
101-24410Design. Fd Bal - Working Cap (2,305,000.00)
101-24411Design. Fd Bal - Elections -
101-24413Design. Fd Bal - Capital (449,470.90)
101-24500Restricted Equity -
101-25310Unassigned Fund Balance (136,658.78)
102-25310Unassigned Fund Balance (391,694.07)
104-25310Unassigned Fund Balance -
106-25310Unassigned Fund Balance (134,580.53)
108-25310Unassigned Fund Balance (6,192.65)
109-24413Design. Fd Bal - Capital -
109-25310Unassigned Fund Balance (623,619.26)
110-24413Design. Fd Bal - Capital (306,288.72)
110-24414Design. Fd Bal -Debt Serv.Rel. -
110-24500Restricted Net Position -
110-25310Unassigned Fund Balance (766,860.19)
Total Equity (4,015,765.62)
Total Liabilities plus Equity$ (5,328,994.68)
CITY OF ST JOSEPH
REVENUES WITH COMPARISON TO BUDGET
FOR THE 4 MONTHS ENDING APRIL 30, 2025
GENERAL FUND
PRIOR YTD AMOUNTYTD ACTUALORIGINAL BUDGETCURRENT BUDGETUNEARNEDPCNT
GENERAL FUND REVENUE
101-41430-31010CURRENT AD VALOREM TAXES1,093.7212,232.822,734,439.002,734,439.002,722,206.18.5
101-41430-31400GRAVEL TAX.00977.38750.00750.00( 227.38)130.3
101-41430-31810FRANCHISE FEES - CABLE6,762.897,296.1227,565.0027,565.0020,268.8826.5
101-41430-31820FRANCHISE FEES - GAS.0040,138.4865,860.0065,860.0025,721.5261.0
101-41430-31830FRANCHISE FEES - ELECTRIC7,798.8641,652.19107,665.00107,665.0066,012.8138.7
101-41430-32111KEG PERMIT.005.0020.0020.0015.0025.0
101-41430-32112LIQUOR LICENSE.0036,560.0035,000.0035,000.00( 1,560.00)104.5
101-41430-32113OUTDOOR LIQUOR PERMIT4,800.005,000.006,000.006,000.001,000.0083.3
101-41430-32114GAMBLING PERMITS420.00180.00400.00400.00220.0045.0
101-41430-32115MASSAGE LICENSE.00545.00.00.00( 545.00).0
101-41430-32170AMUSEMENT/HUNT/PEDDLER/GOLF425.00555.00700.00700.00145.0079.3
101-41430-32184CIGARETTE LICENSE.00.00600.00600.00600.00.0
101-41430-32210BUILDING PERMITS21,571.7132,604.34120,000.00120,000.0087,395.6627.2
101-41430-32261RENTAL HOUSING REGISTRATION300.00400.0035,000.0035,000.0034,600.001.1
101-41430-33400STATE GRANTS AND AIDS.00.001,505.001,505.001,505.00.0
101-41430-33401LOCAL GOVERNMENT AID.00140,244.561,391,646.001,391,646.001,251,401.4410.1
101-41430-34102ZONING VIOLATION.00.00250.00250.00250.00.0
101-41430-34103ZONING AND SUBDIVISION FEE8,547.874,755.0015,000.0015,000.0010,245.0031.7
101-41430-34104LAND USE DEPOSIT FEE( 1,647.87)6,000.00.00.00( 6,000.00).0
101-41430-34105SALE OF MAPS AND PUBLICATIONS33.50114.0015.0015.00( 99.00)760.0
101-41430-34107ASSESSMENTS SEARCH1,680.001,310.004,000.004,000.002,690.0032.8
101-41430-34111SPECIAL HEARING.00.00150.00150.00150.00.0
101-41430-34221WATER TOWER ANTENNA LEASE4,172.78853.342,575.002,575.001,721.6633.1
101-41430-34780SHELTER/ROOM RENTAL FEES2,550.00400.003,400.003,400.003,000.0011.8
101-41430-34782ROOM RENTAL DAMAGE DEPOSIT400.00.00.00.00.00.0
101-41430-36100SPECIAL ASSESSMENTS.00.00500.00500.00500.00.0
101-41430-36210INTEREST EARNINGS10,002.3087,030.5050,000.0050,000.00( 37,030.50)174.1
101-41430-36215CO-OP DIVIDENDS( .89)2.195,000.005,000.004,997.81.0
101-41430-36300REIMBURSEMENT365.32870.4119,870.0019,870.0018,999.594.4
FOR ADMINISTRATION USE ONLY33 % OF THE FISCAL YEAR HAS ELAPSED05/15/2025 08:45AM PAGE: 1
CITY OF ST JOSEPH
REVENUES WITH COMPARISON TO BUDGET
FOR THE 4 MONTHS ENDING APRIL 30, 2025
GENERAL FUND
PRIOR YTD AMOUNTYTD ACTUALORIGINAL BUDGETCURRENT BUDGETUNEARNEDPCNT
101-42120-33160FEDERAL GRANTS - OTHER.00.001,500.001,500.001,500.00.0
101-42120-33400STATE POLICE AID.002,000.24117,000.00117,000.00114,999.761.7
101-42120-33416STATE POLICE TRAINING REMB.00.005,000.005,000.005,000.00.0
101-42120-34800ACCIDENT REPORT FEE448.25603.752,000.002,000.001,396.2530.2
101-42120-34950KENNEL FEES.00.001,000.001,000.001,000.00.0
101-42120-34955POLICE INVESTIGATION CHARGES80.00.00500.00500.00500.00.0
101-42120-35101COUNTY FINES10,102.0611,607.8145,000.0045,000.0033,392.1925.8
101-42120-35102POLICY FINES10,752.2015,009.4020,000.0020,000.004,990.6075.1
101-42120-35106SEIZED PROPERTY.00234.751,000.001,000.00765.2523.5
101-42120-36230CONTRIBUTIONS - GENERAL2,500.001,500.002,000.002,000.00500.0075.0
101-42120-36300REIMBURSEMENT.00.005,000.005,000.005,000.00.0
101-43120-32000REFUSE PERMITS13,500.005,000.0011,000.0011,000.006,000.0045.5
101-43120-33421STATE MUNICIPAL FUNDS AID51,175.0055,522.00120,000.00120,000.0064,478.0046.3
101-43120-33611COUNTY GRANTS - ROAD MAINT..00.0017,000.0017,000.0017,000.00.0
101-43120-34407SNOW REMOVAL.00.00500.00500.00500.00.0
101-43120-36230CONTRIBUTIONS - GENERAL.00.00500.00500.00500.00.0
101-43120-36300REIMBURSEMENT15,295.9015,311.2820,000.0020,000.004,688.7276.6
101-45125-34783SCHNEIDER FIELD RENTAL.00.001,800.001,800.001,800.00.0
101-45125-36230DONATIONS - SCHNEIDER FIELD.00.00250.00250.00250.00.0
101-45202-34407WEED CUTTING.00.00300.00300.00300.00.0
101-45202-34780SHELTER/ROOM RENTAL FEES17,800.0020,600.0025,000.0025,000.004,400.0082.4
101-45202-34782PARK RENTAL DAMAGE DEPOSIT8,660.0015,936.00.00.00( 15,936.00).0
101-45202-36230DONATIONS - PARKS10,072.2726.00400.00400.00374.006.5
101-45202-36300REIMBURSEMENT230.00.00500.00500.00500.00.0
101-45204-33430OTHER GRANTS/AIDS.002,500.00.00.00( 2,500.00).0
101-45204-34405CONCESSIONS.00.00500.00500.00500.00.0
101-45204-34408ADMISSION FEE6,558.005,880.007,000.007,000.001,120.0084.0
101-45204-34410BIKE SHARE PROGRAM.00.00750.00750.00750.00.0
101-45204-36230DONATIONS - RECREATION225.00250.00500.00500.00250.0050.0
101-49302-39201TRANSFERS FROM OTHER FUNDS17,985.00.00.00.00.00.0
102-41430-31010CURRENT AD VALOREM TAXES.0072.5315,000.0015,000.0014,927.47.5
102-49302-39201TRANSFERS FROM OTHER FUNDS6,000.0011,205.0011,205.0011,205.00.00100.0
104-41430-33160FEDERAL GRANTS - OTHER150,946.54.00.00.00.00.0
108-41950-31810FRANCHISE FEES - PEG1,001.141,472.385,500.005,500.004,027.6226.8
109-41430-31010CURRENT AD VALOREM TAXES.00437.79212,135.00212,135.00211,697.21.2
109-49302-39201TRANSFERS FROM OTHER FUNDS.004,000.00.00.00( 4,000.00).0
109-49302-39260SURPLUS PROPERTY22,920.0014,720.4021,500.0021,500.006,779.6068.5
FOR ADMINISTRATION USE ONLY33 % OF THE FISCAL YEAR HAS ELAPSED05/15/2025 08:46AM PAGE: 2
CITY OF ST JOSEPH
REVENUES WITH COMPARISON TO BUDGET
FOR THE 4 MONTHS ENDING APRIL 30, 2025
DEBT SERVICE RELIEF
PRIOR YTD AMOUNTYTD ACTUALORIGINAL BUDGETCURRENT BUDGETUNEARNEDPCNT
110-41430-33401LOCAL GOVERNMENT AID.00.00100,000.00100,000.00100,000.00.0
110-43120-31010CURRENT AD VALOREM TAXES.00277.55500.00500.00222.4555.5
110-43120-36100SPECIAL ASSESSMENTS.001,889.475,000.005,000.003,110.5337.8
TOTAL GENERAL FUND REVENUE415,526.55605,782.685,404,750.005,404,750.004,798,967.3211.2
FOR ADMINISTRATION USE ONLY33 % OF THE FISCAL YEAR HAS ELAPSED05/15/2025 08:52AM PAGE: 3
CITY OF ST JOSEPH
EXPENDITURES WITH COMPARISON TO BUDGET
FOR THE 4 MONTHS ENDING APRIL 30, 2025
GENERAL FUND
PRIOR YTD AMOUNTYTD ACTUALORIGINAL BUDGETBUDGETUNEXPENDEDPCNT
GENERAL FUND EXPENDITURES
101-41110-101COUNCIL SALARIES8,700.006,960.0020,880.0020,880.0013,920.0033.3
101-41110-104TAXABLE PER DIEM300.00200.002,800.002,800.002,600.007.1
101-41110-121PERA CONTRIBUTIONS326.25174.00890.00890.00716.0019.6
101-41110-122FICA CONTRIBUTIONS284.00332.02365.00365.0032.9891.0
101-41110-125MEDICARE CONTRIBUTIONS.00.00345.00345.00345.00.0
101-41110-151WORKERS COMP. INSUR. PREM..00.0075.0075.0075.00.0
101-41110-171CLOTHING ALLOWANCE.00.00350.00350.00350.00.0
101-41110-200OFFICE SUPPLIES.0064.58100.00100.0035.4264.6
101-41110-331TRAVEL & CONFERENCE EXPENSE1,838.811,840.228,400.008,400.006,559.7821.9
101-41110-361GENERAL LIABILITY INSURANCE512.00512.00520.00520.008.0098.5
101-41110-433DUES & MEMBERSHIPS21,126.2438,314.0041,035.0041,035.002,721.0093.4
101-41120-103LEGISLATIVE BODIES920.001,080.005,400.005,400.004,320.0020.0
101-41120-151WORKERS COMP. INSUR. PREM..00.00375.00375.00375.00.0
101-41120-200OFFICE SUPPLIES.00.00100.00100.00100.00.0
101-41120-340ADVERTISING.00.0050.0050.0050.00.0
101-41130-303ENGINEERING FEE.00.00250.00250.00250.00.0
101-41130-304LEGAL FEES.00270.002,000.002,000.001,730.0013.5
101-41130-340ADVERTISING64.74170.68750.00750.00579.3222.8
101-41310-101MAYOR SALARIES3,250.002,600.007,800.007,800.005,200.0033.3
101-41310-104TAXABLE PER DIEM200.00.001,000.001,000.001,000.00.0
101-41310-121PERA CONTRIBUTIONS172.50130.00440.00440.00310.0029.6
101-41310-122FICA CONTRIBUTIONS50.0537.72.00.00( 37.72).0
101-41310-125MEDICARE CONTRIBUTIONS.00.00125.00125.00125.00.0
101-41310-151WORKERS COMP. INSUR. PREM..00.0025.0025.0025.00.0
101-41310-171CLOTHING ALLOWANCE.00.00200.00200.00200.00.0
101-41310-200OFFICE SUPPLIES.0045.0025.0025.00( 20.00)180.0
101-41310-331TRAVEL & CONFERENCE EXPENSE1,149.86191.433,000.003,000.002,808.576.4
101-41310-361GENERAL LIABILITY INSURANCE128.00128.00130.00130.002.0098.5
101-41410-101ELECTION SALARIES3,138.50.00.00.00.00.0
101-41410-210OPERATING SUPPLIES158.82.00.00.00.00.0
101-41410-300PROFESSIONAL SERVICES.00187.19.00.00( 187.19).0
101-41410-331TRAVEL & CONFERENCE252.55.00.00.00.00.0
101-41410-340ADVERTISING35.90.00.00.00.00.0
101-41410-410RENTALS.00.007,000.007,000.007,000.00.0
101-41410-580OTHER EQUIPMENT.00.006,000.006,000.006,000.00.0
FOR ADMINISTRATION USE ONLY33 % OF THE FISCAL YEAR HAS ELAPSED05/15/2025 08:52AM PAGE: 4
CITY OF ST JOSEPH
EXPENDITURES WITH COMPARISON TO BUDGET
FOR THE 4 MONTHS ENDING APRIL 30, 2025
GENERAL FUND
PRIOR YTD AMOUNTYTD ACTUALORIGINAL BUDGETBUDGETUNEXPENDEDPCNT
101-41430-101ADMINISTRATIVE SALARIES98,068.77104,686.78315,000.00315,000.00210,313.2233.2
101-41430-121PERA CONTRIBUTIONS7,355.177,755.2523,625.0023,625.0015,869.7532.8
101-41430-122FICA CONTRIBUTIONS6,909.847,516.6717,655.0017,655.0010,138.3342.6
101-41430-123DEFERRED COMP-EMPLOYER450.00450.002,600.002,600.002,150.0017.3
101-41430-125MEDICARE CONTRIBUTIONS.00( 24.66)4,130.004,130.004,154.66( .6)
101-41430-130H S A- EMPLOYER CONTRIBUTION3,615.003,780.007,200.007,200.003,420.0052.5
101-41430-131HEALTH INSURANCE20,812.3219,104.6663,000.0063,000.0043,895.3430.3
101-41430-132DENTAL INSURANCE1,487.521,289.324,345.004,345.003,055.6829.7
101-41430-133LIFE INSURANCE104.7577.15245.00245.00167.8531.5
101-41430-134DISABILTY INSURANCE1,099.85836.993,155.003,155.002,318.0126.5
101-41430-151WORKERS COMP. INSUR. PREM..00.001,450.001,450.001,450.00.0
101-41430-171CLOTHING ALLOWANCE.00.00150.00150.00150.00.0
101-41430-200OFFICE SUPPLIES509.04444.032,500.002,500.002,055.9717.8
101-41430-201POSTAGE623.101,279.944,500.004,500.003,220.0628.4
101-41430-210OPERATING SUPPLIES876.29872.663,000.003,000.002,127.3429.1
101-41430-220REPAIR AND MAINTENANCE124.95132.31200.00200.0067.6966.2
101-41430-300PROFESSIONAL SERVICES890.002,004.882,500.002,500.00495.1280.2
101-41430-310SOFTWARE SUPPORT5,038.173,905.809,115.009,115.005,209.2042.9
101-41430-314SAFETY PROGRAM265.18334.13395.00395.0060.8784.6
101-41430-315WELLNESS PROGRAM.001,020.005,000.005,000.003,980.0020.4
101-41430-317OTHER FEES278.69( 31.37)850.00850.00881.37( 3.7)
101-41430-321TELEPHONE1,042.001,076.503,125.003,125.002,048.5034.5
101-41430-331TRAVEL & CONFERENCE EXPENSE2,005.701,590.216,000.006,000.004,409.7926.5
101-41430-340ADVERTISING52.3860.62300.00300.00239.3820.2
101-41430-361GENERAL LIABILITY INSURANCE8,649.227,154.309,050.009,050.001,895.7079.1
101-41430-410RENTALS2,110.572,230.365,980.005,980.003,749.6437.3
101-41430-433DUES & MEMBERSHIPS.00.00190.00190.00190.00.0
101-41430-441SALES & USE TAX210.465.47300.00300.00294.531.8
101-41430-446LICENSING.002,553.75.00.00( 2,553.75).0
FOR ADMINISTRATION USE ONLY33 % OF THE FISCAL YEAR HAS ELAPSED05/15/2025 08:52AM PAGE: 5
CITY OF ST JOSEPH
EXPENDITURES WITH COMPARISON TO BUDGET
FOR THE 4 MONTHS ENDING APRIL 30, 2025
GENERAL FUND
PRIOR YTD AMOUNTYTD ACTUALORIGINAL BUDGETBUDGETUNEXPENDEDPCNT
101-41530-101FINANCE SALARIES62,608.8572,594.51211,890.00211,890.00139,295.4934.3
101-41530-121PERA CONTRIBUTIONS4,596.795,218.2215,425.0015,425.0010,206.7833.8
101-41530-122FICA CONTRIBUTIONS4,456.415,170.0612,175.0012,175.007,004.9442.5
101-41530-123DEFERRED COMP-EMPLOYER675.00675.001,950.001,950.001,275.0034.6
101-41530-125MEDICARE CONTRIBUTIONS.00.002,845.002,845.002,845.00.0
101-41530-130H S A- EMPLOYER CONTRIBUTION2,350.002,400.004,800.004,800.002,400.0050.0
101-41530-131HEALTH INSURANCE12,575.3411,734.8042,000.0042,000.0030,265.2027.9
101-41530-132DENTAL INSURANCE711.18648.402,900.002,900.002,251.6022.4
101-41530-133LIFE INSURANCE66.5053.20165.00165.00111.8032.2
101-41530-134DISABILTY INSURANCE700.05574.922,075.002,075.001,500.0827.7
101-41530-151WORKERS COMP. INSUR. PREM..00.00975.00975.00975.00.0
101-41530-171CLOTHING ALLOWANCE.00.00100.00100.00100.00.0
101-41530-200OFFICE SUPPLIES343.4972.88500.00500.00427.1214.6
101-41530-300PROFESSIONAL SERVICES1,978.702,074.615,250.005,250.003,175.3939.5
101-41530-310SOFTWARE SUPPORT1,271.304,763.9212,700.0012,700.007,936.0837.5
101-41530-321TELEPHONE247.41244.20995.00995.00750.8024.5
101-41530-331TRAVEL & CONFERENCE EXPENSE.00494.663,000.003,000.002,505.3416.5
101-41530-340ADVERTISING252.00235.421,750.001,750.001,514.5813.5
101-41530-433DUES & MEMBERSHIPS169.99339.99340.00340.00.01100.0
101-41540-300AUDIT & ACCOUNTING SERVICES32,000.00.0038,450.0038,450.0038,450.00.0
101-41550-300PROFESSIONAL SERVICES.00.0028,500.0028,500.0028,500.00.0
101-41610-304LEGAL FEES287.003,321.0012,000.0012,000.008,679.0027.7
101-41710-220REPAIR AND MAINTENANCE.00.00500.00500.00500.00.0
101-41710-310IT SERVICES3,972.509,058.5822,000.0022,000.0012,941.4241.2
FOR ADMINISTRATION USE ONLY33 % OF THE FISCAL YEAR HAS ELAPSED05/15/2025 08:52AM PAGE: 6
CITY OF ST JOSEPH
EXPENDITURES WITH COMPARISON TO BUDGET
FOR THE 4 MONTHS ENDING APRIL 30, 2025
GENERAL FUND
PRIOR YTD AMOUNTYTD ACTUALORIGINAL BUDGETBUDGETUNEXPENDEDPCNT
101-41910-101PLANNING & ZONING SALARIES24,391.7627,620.8586,660.0086,660.0059,039.1531.9
101-41910-121PERA CONTRIBUTIONS1,818.612,071.536,015.006,015.003,943.4734.4
101-41910-122FICA CONTRIBUTIONS1,815.412,096.515,000.005,000.002,903.4941.9
101-41910-123DEFERRED COMP-EMPLOYER146.25146.25845.00845.00698.7517.3
101-41910-125MEDICARE CONTRIBUTIONS.00.001,170.001,170.001,170.00.0
101-41910-130H S A- EMPLOYER CONTRIBUTION763.75780.001,560.001,560.00780.0050.0
101-41910-131HEALTH INSURANCE3,882.803,623.1213,650.0013,650.0010,026.8826.5
101-41910-132DENTAL INSURANCE263.34238.88945.00945.00706.1225.3
101-41910-133LIFE INSURANCE21.6017.2855.0055.0037.7231.4
101-41910-134DISABILTY INSURANCE251.90201.52790.00790.00588.4825.5
101-41910-151WORKERS COMP. INSUR. PREM..00.00400.00400.00400.00.0
101-41910-171CLOTHING ALLOWANCE.00.0035.0035.0035.00.0
101-41910-200OFFICE SUPPLIES.0025.33100.00100.0074.6725.3
101-41910-201POSTAGE.0013.26200.00200.00186.746.6
101-41910-300PROFESSIONAL SERVICES80.46170.466,500.006,500.006,329.542.6
101-41910-303ENGINEERING FEE105.00235.002,450.002,450.002,215.009.6
101-41910-304LEGAL FEES90.00112.501,000.001,000.00887.5011.3
101-41910-310SOFTWARE SUPPORT.00.0050.0050.0050.00.0
101-41910-321TELEPHONE127.42124.17505.00505.00380.8324.6
101-41910-331TRAVEL & CONFERENCE EXPENSE51.91.001,200.001,200.001,200.00.0
101-41910-340ADVERTISING427.88274.56600.00600.00325.4445.8
101-41910-350PRINTING.00.00150.00150.00150.00.0
101-41910-431ANNEXATION/RECORDING FEE209.00.00600.00600.00600.00.0
101-41910-433DUES & MEMBERSHIPS667.00667.00880.00880.00213.0075.8
101-41910-449PROPERTY TAX SHARING.00.0019,190.0019,190.0019,190.00.0
101-41910-451JOINT PLANNING.00.00250.00250.00250.00.0
FOR ADMINISTRATION USE ONLY33 % OF THE FISCAL YEAR HAS ELAPSED05/15/2025 08:52AM PAGE: 7
CITY OF ST JOSEPH
EXPENDITURES WITH COMPARISON TO BUDGET
FOR THE 4 MONTHS ENDING APRIL 30, 2025
GENERAL FUND
PRIOR YTD AMOUNTYTD ACTUALORIGINAL BUDGETBUDGETUNEXPENDEDPCNT
101-41941-101GENERAL GOVERNMENT SALARIES5,895.696,220.1116,900.0016,900.0010,679.8936.8
101-41941-121PERA CONTRIBUTIONS439.19462.591,265.001,265.00802.4136.6
101-41941-122FICA CONTRIBUTIONS425.51447.16995.00995.00547.8444.9
101-41941-125MEDICARE CONTRIBUTIONS.00.00235.00235.00235.00.0
101-41941-130H S A- EMPLOYER CONTRIBUTION222.43338.19480.00480.00141.8170.5
101-41941-131HEALTH INSURANCE894.371,257.444,200.004,200.002,942.5629.9
101-41941-132DENTAL INSURANCE62.4673.60290.00290.00216.4025.4
101-41941-133LIFE INSURANCE7.718.1515.0015.006.8554.3
101-41941-134DISABILTY INSURANCE50.2465.20170.00170.00104.8038.4
101-41941-151WORKERS COMP. INSUR. PREM..00.00500.00500.00500.00.0
101-41941-171CLOTHING ALLOWANCE.00.00130.00130.00130.00.0
101-41941-210OPERATING SUPPLIES58.37.00250.00250.00250.00.0
101-41941-220REPAIR AND MAINTENANCE194.99.00500.00500.00500.00.0
101-41941-361GENERAL LIABILITY INSURANCE4,636.572,132.712,455.002,455.00322.2986.9
101-41942-210OPERATING SUPPLIES103.0025.472,500.002,500.002,474.531.0
101-41942-220REPAIR AND MAINTENANCE2,318.199.897,500.007,500.007,490.11.1
101-41942-300PROFESSIONAL SERVICES8,783.4010,861.7028,500.0028,500.0017,638.3038.1
101-41942-361GENERAL LIABILITY INSURANCE6,759.636,215.456,900.006,900.00684.5590.1
101-41942-381ELECTRIC UTILITIES3,552.255,247.5923,015.0023,015.0017,767.4122.8
101-41942-383GAS UTILITIES3,103.544,162.809,500.009,500.005,337.2043.8
101-41942-410RENTALS399.50399.50500.00500.00100.5079.9
101-41950-101CABLE SALARIES700.00700.003,600.003,600.002,900.0019.4
101-41950-122FICA CONTRIBUTIONS53.5553.55225.00225.00171.4523.8
101-41950-125MEDICARE CONTRIBUTIONS.00.0050.0050.0050.00.0
101-41950-151WORKERS COMP. INSUR. PREM..00.0010.0010.0010.00.0
101-41950-210OPERATING SUPPLIES47.9715.99200.00200.00184.018.0
101-41950-220REPAIR AND MAINTENANCE.00.00500.00500.00500.00.0
101-41950-300PROFESSIONAL SERVICES.0073.79.00.00( 73.79).0
101-41950-310SOFTWARE SUPPORT.00.00365.00365.00365.00.0
FOR ADMINISTRATION USE ONLY33 % OF THE FISCAL YEAR HAS ELAPSED05/15/2025 08:52AM PAGE: 8
CITY OF ST JOSEPH
EXPENDITURES WITH COMPARISON TO BUDGET
FOR THE 4 MONTHS ENDING APRIL 30, 2025
GENERAL FUND
PRIOR YTD AMOUNTYTD ACTUALORIGINAL BUDGETBUDGETUNEXPENDEDPCNT
101-42120-101POLICE SALARIES388,882.39428,804.831,384,180.001,384,180.00955,375.1731.0
101-42120-121PERA CONTRIBUTIONS63,178.9968,797.81226,740.00226,740.00157,942.1930.3
101-42120-122FICA CONTRIBUTIONS8,500.089,989.659,655.009,655.00( 334.65)103.5
101-42120-123DEFERRED COMP-EMPLOYER1,587.072,562.7910,590.0010,590.008,027.2124.2
101-42120-125MEDICARE CONTRIBUTIONS.00.0019,280.0019,280.0019,280.00.0
101-42120-130H S A- EMPLOYER CONTRIBUTION14,864.9418,224.7733,600.0033,600.0015,375.2354.2
101-42120-131HEALTH INSURANCE78,751.6273,278.20290,400.00290,400.00217,121.8025.2
101-42120-132DENTAL INSURANCE3,665.343,080.2620,280.0020,280.0017,199.7415.2
101-42120-133LIFE INSURANCE468.92357.021,140.001,140.00782.9831.3
101-42120-134DISABILTY INSURANCE5,057.704,006.1713,125.0013,125.009,118.8330.5
101-42120-151WORKERS COMP. INSUR. PREM..00.0076,985.0076,985.0076,985.00.0
101-42120-171CLOTHING ALLOWANCE1,139.49506.519,400.009,400.008,893.495.4
101-42120-200OFFICE SUPPLIES.00.00400.00400.00400.00.0
101-42120-201POSTAGE408.7583.33920.00920.00836.679.1
101-42120-210OPERATING SUPPLIES768.272,396.576,000.006,000.003,603.4339.9
101-42120-211AWAIRE SUPPLIES.0042.50500.00500.00457.508.5
101-42120-214SMALL TOOL & MINOR EQUIPMENT66.78.00300.00300.00300.00.0
101-42120-220REPAIR AND MAINTENANCE.00.00200.00200.00200.00.0
101-42120-300PROFESSIONAL SERVICES5,565.273,971.8219,000.0019,000.0015,028.1820.9
101-42120-304LEGAL FEES922.50517.5048,500.0048,500.0047,982.501.1
101-42120-307COMMUNITY POLICING PROGRAMS.00.001,200.001,200.001,200.00.0
101-42120-310SOFTWARE SUPPORT5,694.9911,783.4023,455.0023,455.0011,671.6050.2
101-42120-314SAFETY PROGRAM265.17334.132,145.002,145.001,810.8715.6
101-42120-331TRAVEL & CONFERENCE EXPENSE.00.001,500.001,500.001,500.00.0
101-42120-350PRINTING.00375.96900.00900.00524.0441.8
101-42120-361GENERAL LIABILITY INSURANCE46,987.3946,315.4951,740.0051,740.005,424.5189.5
101-42120-410RENTALS60.0072.60340.00340.00267.4021.4
101-42120-433DUES & MEMBERSHIPS376.00376.001,050.001,050.00674.0035.8
101-42120-436FORFEITURE EXPENDITURES.00153.87500.00500.00346.1330.8
101-42120-441SALES & USE TAX.00.00200.00200.00200.00.0
101-42120-446LICENSE20.25.00250.00250.00250.00.0
101-42140-210OPERATING SUPPLIES.00.008,000.008,000.008,000.00.0
101-42140-300PROFESSIONAL SERVICES4,290.004,685.187,000.007,000.002,314.8266.9
101-42140-331TRAVEL & CONFERENCE EXPENSE1,860.001,560.005,000.005,000.003,440.0031.2
FOR ADMINISTRATION USE ONLY33 % OF THE FISCAL YEAR HAS ELAPSED05/15/2025 08:52AM PAGE: 9
CITY OF ST JOSEPH
EXPENDITURES WITH COMPARISON TO BUDGET
FOR THE 4 MONTHS ENDING APRIL 30, 2025
GENERAL FUND
PRIOR YTD AMOUNTYTD ACTUALORIGINAL BUDGETBUDGETUNEXPENDEDPCNT
101-42151-210OPERATING SUPPLIES.00.00100.00100.00100.00.0
101-42151-220TELEPHONE/RADIO REPAIR/MAINT470.00.00750.00750.00750.00.0
101-42151-320COMMUNICATION SUPPORT623.601,142.001,500.001,500.00358.0076.1
101-42151-321TELEPHONE3,173.813,673.6914,965.0014,965.0011,291.3124.6
101-42152-205MOTOR FUEL8,640.726,327.4529,925.0029,925.0023,597.5521.1
101-42152-230VEHICLE REPAIR & MAINTENANCE2,339.912,825.4636,000.0036,000.0033,174.547.9
101-42152-446LICENSE.00.0050.0050.0050.00.0
101-42401-300PROFESSIONAL SERVICES25,525.0028,500.00102,250.00102,250.0073,750.0027.9
101-42401-310SOFTWARE SUPPORT604.36708.362,940.002,940.002,231.6424.1
101-42401-438STATE SURCHARGE582.00501.005,000.005,000.004,499.0010.0
101-42500-220REPAIR AND MAINTENANCE.00.00500.00500.00500.00.0
101-42500-300PROFESSIONAL SERVICES1,270.00900.001,500.001,500.00600.0060.0
101-42500-326FIRE SIREN24.9422.39115.00115.0092.6119.5
101-42500-331TRAVEL & CONFERENCE EXPENSE.00.001,300.001,300.001,300.00.0
101-42500-433DUES & MEMBERSHIPS.00.00200.00200.00200.00.0
FOR ADMINISTRATION USE ONLY33 % OF THE FISCAL YEAR HAS ELAPSED05/15/2025 08:52AM PAGE: 10
CITY OF ST JOSEPH
EXPENDITURES WITH COMPARISON TO BUDGET
FOR THE 4 MONTHS ENDING APRIL 30, 2025
GENERAL FUND
PRIOR YTD AMOUNTYTD ACTUALORIGINAL BUDGETBUDGETUNEXPENDEDPCNT
101-43120-101STREET SALARIES59,697.3772,013.81154,435.00154,435.0082,421.1946.6
101-43120-121PERA CONTRIBUTIONS4,263.655,319.6810,525.0010,525.005,205.3250.5
101-43120-122FICA CONTRIBUTIONS4,247.025,317.919,300.009,300.003,982.0957.2
101-43120-123DEFERRED COMP-EMPLOYER11.90.00260.00260.00260.00.0
101-43120-125MEDICARE CONTRIBUTIONS.00.002,175.002,175.002,175.00.0
101-43120-130H S A- EMPLOYER CONTRIBUTION3,428.134,407.346,270.006,270.001,862.6670.3
101-43120-131HEALTH INSURANCE12,591.3913,904.5632,520.0032,520.0018,615.4442.8
101-43120-132DENTAL INSURANCE857.52804.562,320.002,320.001,515.4434.7
101-43120-133LIFE INSURANCE70.6767.52130.00130.0062.4851.9
101-43120-134DISABILTY INSURANCE895.68877.441,415.001,415.00537.5662.0
101-43120-151WORKERS COMP. INSUR. PREM..00.0014,340.0014,340.0014,340.00.0
101-43120-171CLOTHING ALLOWANCE130.8781.731,985.001,985.001,903.274.1
101-43120-200OFFICE SUPPLIES.00.00300.00300.00300.00.0
101-43120-201POSTAGE.0041.68200.00200.00158.3220.8
101-43120-205MOTOR FUEL1,279.352,209.475,550.005,550.003,340.5339.8
101-43120-210OPERATING SUPPLIES1,929.272,290.2910,000.0010,000.007,709.7122.9
101-43120-214SMALL TOOL & MINOR EQUIPMENT.001,131.811,200.001,200.0068.1994.3
101-43120-220REPAIR AND MAINTENANCE158.50150.007,500.007,500.007,350.002.0
101-43120-230VEHICLE REPAIR & MAINTENANCE706.65536.6210,000.0010,000.009,463.385.4
101-43120-300PROFESSIONAL SERVICES60.001,500.0010,000.0010,000.008,500.0015.0
101-43120-310SOFTWARE SUPPORT969.081,377.712,425.002,425.001,047.2956.8
101-43120-314SAFETY PROGRAM597.00453.461,395.001,395.00941.5432.5
101-43120-321TELEPHONE502.73334.451,715.001,715.001,380.5519.5
101-43120-331TRAVEL & CONFERENCE EXPENSE1.52188.18250.00250.0061.8275.3
101-43120-361GENERAL LIABILITY INSURANCE8,275.1612,504.9912,815.0012,815.00310.0197.6
101-43120-381ELECTRIC UTILITIES345.87444.001,430.001,430.00986.0031.1
101-43120-383GAS UTILITIES643.641,044.631,760.001,760.00715.3759.4
101-43120-433DUES & MEMBERSHIPS136.75141.50135.00135.00( 6.50)104.8
101-43120-446LICENSE171.06.00200.00200.00200.00.0
101-43120-530SEAL COATING/CRACK FILLING.00.00120,000.00120,000.00120,000.00.0
FOR ADMINISTRATION USE ONLY33 % OF THE FISCAL YEAR HAS ELAPSED05/15/2025 08:52AM PAGE: 11
CITY OF ST JOSEPH
EXPENDITURES WITH COMPARISON TO BUDGET
FOR THE 4 MONTHS ENDING APRIL 30, 2025
GENERAL FUND
PRIOR YTD AMOUNTYTD ACTUALORIGINAL BUDGETBUDGETUNEXPENDEDPCNT
101-43125-101ICE & SNOW REMOVAL SALARIES20,785.6031,820.6280,430.0080,430.0048,609.3839.6
101-43125-121PERA CONTRIBUTIONS1,474.332,358.865,085.005,085.002,726.1446.4
101-43125-122FICA CONTRIBUTIONS1,515.842,336.034,860.004,860.002,523.9748.1
101-43125-125MEDICARE CONTRIBUTIONS.00.001,135.001,135.001,135.00.0
101-43125-130H S A- EMPLOYER CONTRIBUTION.00.003,095.003,095.003,095.00.0
101-43125-131HEALTH INSURANCE.00.0015,030.0015,030.0015,030.00.0
101-43125-132DENTAL INSURANCE.00.001,085.001,085.001,085.00.0
101-43125-133LIFE INSURANCE19.756.8260.0060.0053.1811.4
101-43125-134DISABILTY INSURANCE38.7531.00680.00680.00649.004.6
101-43125-205MOTOR FUEL1,642.722,213.216,785.006,785.004,571.7932.6
101-43125-210OPERATING SUPPLIES28,195.7136,128.3460,000.0060,000.0023,871.6660.2
101-43125-230VEHICLE REPAIR & MAINTENANCE5,398.9812,226.5915,000.0015,000.002,773.4181.5
101-43125-300PROFESSIONAL SERVICES4,796.45.00.00.00.00.0
101-43131-303ENGINEERING FEE16,857.9413,894.9145,000.0045,000.0031,105.0930.9
101-43201-200OFFICE SUPPLIES58.5146.33300.00300.00253.6715.4
101-43201-210OPERATING SUPPLIES3,835.472,163.537,500.007,500.005,336.4728.9
101-43201-214SMALL TOOL & MINOR EQUIPMENT1,362.50416.162,500.002,500.002,083.8416.7
101-43201-220REPAIR AND MAINTENANCE2,480.171,339.175,500.005,500.004,160.8324.4
101-43201-300PROFESSIONAL SERVICES.00862.581,000.001,000.00137.4286.3
101-43201-321TELEPHONE1,406.671,564.714,220.004,220.002,655.2937.1
101-43201-381ELECTRIC UTILITIES3,115.953,198.3011,810.0011,810.008,611.7027.1
101-43201-383GAS UTILITIES3,438.576,926.619,130.009,130.002,203.3975.9
101-43201-410RENTALS60.0066.00240.00240.00174.0027.5
101-43220-101SALARIES2,157.253,647.4216,765.0016,765.0013,117.5821.8
101-43220-121PERA CONTRIBUTIONS154.97269.061,245.001,245.00975.9421.6
101-43220-122FICA CONTRIBUTIONS158.10273.141,000.001,000.00726.8627.3
101-43220-125MEDICARE CONTRIBUTIONS.00.00235.00235.00235.00.0
101-43220-130H S A- EMPLOYER CONTRIBUTION.00.00745.00745.00745.00.0
101-43220-131HEALTH INSURANCE.00.004,020.004,020.004,020.00.0
101-43220-132DENTAL INSURANCE.00.00290.00290.00290.00.0
101-43220-133LIFE INSURANCE3.503.5515.0015.0011.4523.7
101-43220-134DISABILTY INSURANCE19.4015.52170.00170.00154.489.1
101-43220-205MOTOR FUEL.0019.99500.00500.00480.014.0
101-43220-230VEHICLE REPAIR & MAINTENANCE165.391,417.952,500.002,500.001,082.0556.7
FOR ADMINISTRATION USE ONLY33 % OF THE FISCAL YEAR HAS ELAPSED05/15/2025 08:53AM PAGE: 12
CITY OF ST JOSEPH
EXPENDITURES WITH COMPARISON TO BUDGET
FOR THE 4 MONTHS ENDING APRIL 30, 2025
GENERAL FUND
PRIOR YTD AMOUNTYTD ACTUALORIGINAL BUDGETBUDGETUNEXPENDEDPCNT
101-45123-101WARMING HOUSE SALARIES70.004,824.348,365.008,365.003,540.6657.7
101-45123-122FICA CONTRIBUTIONS5.36369.06520.00520.00150.9471.0
101-45123-125MEDICARE CONTRIBUTIONS.00.00120.00120.00120.00.0
101-45123-151WORKERS COMP. INSUR. PREM..00.00405.00405.00405.00.0
101-45123-220REPAIR AND MAINTENANCE.00.00500.00500.00500.00.0
101-45123-381ELECTRIC UTILITIES147.54359.03285.00285.00( 74.03)126.0
101-45123-383GAS UTILITIES102.10107.52930.00930.00822.4811.6
101-45125-210OPERATING SUPPLIES.00.00750.00750.00750.00.0
101-45125-220REPAIR AND MAINTENANCE.0057.311,500.001,500.001,442.693.8
FOR ADMINISTRATION USE ONLY33 % OF THE FISCAL YEAR HAS ELAPSED05/15/2025 08:53AM PAGE: 13
CITY OF ST JOSEPH
EXPENDITURES WITH COMPARISON TO BUDGET
FOR THE 4 MONTHS ENDING APRIL 30, 2025
GENERAL FUND
PRIOR YTD AMOUNTYTD ACTUALORIGINAL BUDGETBUDGETUNEXPENDEDPCNT
101-45202-101PARK SALARIES55,618.5166,315.78211,495.00211,495.00145,179.2231.4
101-45202-121PERA CONTRIBUTIONS3,895.544,878.0014,545.0014,545.009,667.0033.5
101-45202-122FICA CONTRIBUTIONS3,940.944,875.5812,700.0012,700.007,824.4238.4
101-45202-123DEFERRED COMP-EMPLOYER11.90.00360.00360.00360.00.0
101-45202-125MEDICARE CONTRIBUTIONS.00.002,970.002,970.002,970.00.0
101-45202-130H S A- EMPLOYER CONTRIBUTION2,618.993,598.958,605.008,605.005,006.0541.8
101-45202-131HEALTH INSURANCE9,050.6910,619.6845,630.0045,630.0035,010.3223.3
101-45202-132DENTAL INSURANCE604.32604.483,260.003,260.002,655.5218.5
101-45202-133LIFE INSURANCE60.5663.33185.00185.00121.6734.2
101-45202-134DISABILTY INSURANCE683.08698.921,955.001,955.001,256.0835.8
101-45202-151WORKERS COMP. INSUR. PREM..00.009,675.009,675.009,675.00.0
101-45202-171CLOTHING ALLOWANCE127.8679.551,560.001,560.001,480.455.1
101-45202-200OFFICE SUPPLIES.00.00300.00300.00300.00.0
101-45202-201POSTAGE.0041.68.00.00( 41.68).0
101-45202-205MOTOR FUEL1,275.842,029.635,560.005,560.003,530.3736.5
101-45202-210OPERATING SUPPLIES975.363,810.7825,000.0025,000.0021,189.2215.2
101-45202-214SMALL TOOL & MINOR EQUIPMENT.00125.961,000.001,000.00874.0412.6
101-45202-220REPAIR AND MAINTENANCE10,356.062,665.8415,000.0015,000.0012,334.1617.8
101-45202-230VEHICLE REPAIR & MAINTENANCE1,713.131,094.478,500.008,500.007,405.5312.9
101-45202-300PROFESSIONAL SERVICES957.002,603.5820,000.0020,000.0017,396.4213.0
101-45202-310SOFTWARE SUPPORT969.081,377.713,275.003,275.001,897.2942.1
101-45202-314SAFETY PROGRAM356.74433.461,395.001,395.00961.5431.1
101-45202-321TELEPHONE898.76814.563,670.003,670.002,855.4422.2
101-45202-331TRAVEL & CONFERENCE EXPENSE1.526.9050.0050.0043.1013.8
101-45202-361GENERAL LIABILITY INSURANCE23,731.0321,475.5423,765.0023,765.002,289.4690.4
101-45202-381ELECTRIC UTILITIES1,971.223,003.349,870.009,870.006,866.6630.4
101-45202-383GAS UTILITIES1,786.76870.475,015.005,015.004,144.5317.4
101-45202-433DUES & MEMBERSHIPS136.75141.50135.00135.00( 6.50)104.8
101-45202-441SALES & USE TAX1,235.25.002,200.002,200.002,200.00.0
101-45202-446LICENSE90.06.00100.00100.00100.00.0
FOR ADMINISTRATION USE ONLY33 % OF THE FISCAL YEAR HAS ELAPSED05/15/2025 08:53AM PAGE: 14
CITY OF ST JOSEPH
EXPENDITURES WITH COMPARISON TO BUDGET
FOR THE 4 MONTHS ENDING APRIL 30, 2025
GENERAL FUND
PRIOR YTD AMOUNTYTD ACTUALORIGINAL BUDGETBUDGETUNEXPENDEDPCNT
101-45204-101RECREATION SALARIES11,032.1612,182.8560,720.0060,720.0048,537.1520.1
101-45204-121PERA CONTRIBUTIONS827.41913.72110.00110.00( 803.72)830.7
101-45204-122FICA CONTRIBUTIONS843.96931.993,765.003,765.002,833.0124.8
101-45204-125MEDICARE CONTRIBUTIONS.00.00880.00880.00880.00.0
101-45204-151WORKERS COMP. INSUR. PREM..00.00975.00975.00975.00.0
101-45204-171CLOTHING ALLOWANCE.00.00300.00300.00300.00.0
101-45204-200OFFICE SUPPLIES13.4060.05200.00200.00139.9530.0
101-45204-201POSTAGE208.12.00300.00300.00300.00.0
101-45204-210OPERATING SUPPLIES.006.22750.00750.00743.78.8
101-45204-213CONCESSIONS.00.00350.00350.00350.00.0
101-45204-220REPAIR AND MAINTENANCE89.40.00500.00500.00500.00.0
101-45204-300PROFESSIONAL SERVICES710.061,498.561,200.001,200.00( 298.56)124.9
101-45204-308COMMUNITY PROGRAMS3,971.071,475.477,000.007,000.005,524.5321.1
101-45204-310SOFTWARE SUPPORT.003,476.258,450.008,450.004,973.7541.1
101-45204-321TELEPHONE202.06124.17505.00505.00380.8324.6
101-45204-328MARKETING465.14318.981,500.001,500.001,181.0221.3
101-45204-331TRAVEL & CONFERENCE EXPENSE.0050.001,200.001,200.001,150.004.2
101-45204-340ADVERTISING.00.00300.00300.00300.00.0
101-45204-350PRINTING.00.0050.0050.0050.00.0
101-45204-433DUES & MEMBERSHIPS310.00335.00310.00310.00( 25.00)108.1
101-45204-441SALES & USE TAX341.45.00500.00500.00500.00.0
101-49300-720TRANSFERS TO OTHER FUNDS.007,000.00.00.00( 7,000.00).0
102-41430-110SEVERANCE PAYMENT.001,959.30.00.00( 1,959.30).0
102-43120-110SEVERANCE PAYMENT11,325.90.00.00.00.00.0
102-45202-110SEVERANCE PAYMENT11,325.90.00.00.00.00.0
104-42120-580OTHER EQUIPMENT22,200.00.00.00.00.00.0
106-42120-550MOTOR VEHICLES.005,748.96.00.00( 5,748.96).0
106-42120-580OTHER EQUIPMENT.0024,582.72.00.00( 24,582.72).0
106-42220-580OTHER EQUIPMENT40,000.00.00.00.00.00.0
106-42280-220REPAIRS AND MAINTENANCE.00.0075,000.0075,000.0075,000.00.0
108-41950-580OTHER EQUIPMENT.00.005,500.005,500.005,500.00.0
109-41430-570OFFICE EQUIPMENT.00.004,000.004,000.004,000.00.0
109-41430-581COMPUTER HARDWARE.00.006,000.006,000.006,000.00.0
109-41430-582COMPUTER SOFTWARE6,011.606,000.002,500.002,500.00( 3,500.00)240.0
109-42120-220POLICE REPAIR AND MAINTENANCE.00.0030,000.0030,000.0030,000.00.0
109-42120-520BUILDINGS & STRUCTURES.00.002,500.002,500.002,500.00.0
109-42120-580OTHER EQUIPMENT.00.0012,550.0012,550.0012,550.00.0
FOR ADMINISTRATION USE ONLY33 % OF THE FISCAL YEAR HAS ELAPSED05/15/2025 08:53AM PAGE: 15
CITY OF ST JOSEPH
EXPENDITURES WITH COMPARISON TO BUDGET
FOR THE 4 MONTHS ENDING APRIL 30, 2025
GENERAL CAPITAL OUTLAY
PRIOR YTD AMOUNTYTD ACTUALORIGINAL BUDGETBUDGETUNEXPENDEDPCNT
109-42151-580OTHER EQUIPMENT.00.007,585.007,585.007,585.00.0
109-42152-550MOTOR VEHICLES.00.0010,000.0010,000.0010,000.00.0
109-42152-580OTHER EQUIPMENT.007,784.1214,100.0014,100.006,315.8855.2
109-42152-581COMPUTER HARDWARE.00.001,000.001,000.001,000.00.0
109-42500-580OTHER EQUIPMENT.00.001,500.001,500.001,500.00.0
109-43120-550MOTOR VEHICLES.00.003,500.00( 12,682.56)( 12,682.56).0
109-43120-580OTHER EQUIPMENT.00.004,500.004,500.004,500.00.0
109-43120-582COMPUTER SOFTWARE.00.00250.00250.00250.00.0
109-43125-580OTHER EQUIPMENT28,064.99.0046,500.0046,500.0046,500.00.0
109-43201-520BUILDINGS & STRUCTURES.00.0012,500.0012,500.0012,500.00.0
109-43201-580OTHER EQUIPMENT1,254.926,883.878,250.008,250.001,366.1383.4
109-43220-580OTHER EQUIPMENT.00.006,000.006,000.006,000.00.0
IMPROVEMENTS OTHER THAN BLDG109-45202-530.00.0028,000.0028,000.0028,000.00.0
109-45202-550MOTOR VEHICLES.00.003,500.00( 12,682.56)( 12,682.56).0
109-45202-580OTHER EQUIPMENT60,198.38.0028,900.0028,900.0028,900.00.0
109-49300-720TRANSFERS TO OTHER FUNDS.0032,365.12.00.00( 32,365.12).0
110-41430-300PROFESSIONAL SERVICES20,000.0010,000.0020,000.0020,000.0010,000.0050.0
110-41942-300PROFESSIONAL SERVICES.00.002,000.002,000.002,000.00.0
110-42120-300PROFESSIONAL SERVICES.002,800.002,000.002,000.00( 800.00)140.0
110-42120-580OTHER EQUIPMENT.004,406.10.00.00( 4,406.10).0
110-43120-300PROFESSIONAL SERVICES.00.002,000.002,000.002,000.00.0
IMPROVEMENTS OTHER THAN BLDG110-43120-530.0013,820.00.00.00( 13,820.00).0
110-43201-220REPAIR AND MAINTENANCE.00900.00.00.00( 900.00).0
110-43201-520BUILDINGS & STRUCTURES.002,495.35200,000.00200,000.00197,504.651.3
110-43201-580OTHER EQUIPMENT7,969.51.0010,000.0010,000.0010,000.00.0
110-45202-300PROFESSIONAL SERVICES.00.0022,000.0022,000.0022,000.00.0
IMPROVEMENTS OTHER THAN BLDG110-45202-530479.231,993.90.00.00( 1,993.90).0
110-45205-300PROFESSIONAL SERVICES70,000.00.00.00.00.00.0
110-49300-720TRANSFERS TO OTHER FUNDS.0024,850.0013,500.0013,500.00( 11,350.00)184.1
TOTAL GENERAL FUND EXPENDITUR 1,707,258.511,710,382.165,620,525.005,588,159.883,877,777.7230.6
NET REVENUE OVER EXPENDITURES( 1,291,731.96)( 1,104,599.48)( 215,775.00)( 183,409.88)921,189.60(602.3)
FOR ADMINISTRATION USE ONLY33 % OF THE FISCAL YEAR HAS ELAPSED05/15/2025 08:53AM PAGE: 16
Water Fund12/31/20244/30/2025
601-10199Cash 1,457,314.38 1,374,091.14
601-10300Cash with Fiscal Agent - -
601-10450Interest Receivable 11,380.60 11,380.60
601-10500Accounts Receivable 169,944.68 175,065.49
601-10550Due From other Gov tUnits - -
601-10650Inventory 39,404.70 39,404.70
601-10700Taxes Receivable - Delinquent 5.45 5.45
601-11800Lease Receivable 74,921.80 74,921.80
601-12100Special Assessments Receivable 26,346.94 26,346.94
601-12150Delinquent Special Assmt 273.22 273.22
601-16100Land 372,941.34 372,941.34
601-16200Building 7,502,432.35 7,502,432.35
601-16210Accumulated Depr. Building (3,278,314.58) (3,278,314.58)
601-16300Treatment Plant & Line 11,624,002.57 11,624,002.57
601-16305Improvements Not Buildings 315,192.96 315,192.96
601-16310Accumulated Depr. Plant & Line (4,625,709.94) (4,625,709.94)
601-16315Accum Depn - Improve notBldgs (103,959.40) (103,959.40)
601-16400Machinery & Equipment 331,450.33 331,450.33
601-16410Accumulated Depr. Mach & Equip (234,811.87) (234,811.87)
601-16500Construction inProgress 58,854.47 58,854.47
601-17100Deferred Outflows ofResources 26,838.00 26,838.00
601-20200Accounts Payable (10,884.43) (609.97)
601-20201Salaries Payable (6,639.76) (6,639.76)
601-20202Due toOther Govt Units (1,392.76) (1,392.76)
601-20300Interest Payable (1,784.00) (1,784.00)
601-22200Unearned Revenue - -
601-22204Deferred Inflow ofResources (127,834.80) (127,834.80)
601-22500Bonds Payable -Current Portion (555,000.00) (555,000.00)
601-22530Revenue Bonds Payable (560,000.00) (560,000.00)
601-22810Accrued Fringe Benefits (20,434.74) (20,434.74)
601-22820Noncurrent Fringe Benefits (63,317.82) (63,317.82)
601-22840Net Pension Liability (72,416.00) (72,416.00)
601-23200Unamortized Bond Premium (47,700.00) (47,700.00)
601-24413Design. FdBal - Capital (344,429.62) (344,429.62)
601-24415Design. Fd Bal - Operations - -
601-25310Unassigned Fund Balance (4,036,288.88) (4,132,229.72)
601-26100Contrib. from Developers (1,488,015.21) (1,488,015.21)
601-26140Contrib. from Capital Funds (6,336,429.14) (6,336,429.14)
601-00000-31010Current AdValorem Taxes (4.24) -
601-00000-31320State Sales Tax 10.75 (160.74)
601-00000-33400State Grants and Aids (3,382.00) -
601-00000-33430Other Grants/Aids - -
601-00000-34221Water Tower Antenna Lease (22,478.31) (7,679.99)
601-00000-36100Special Assessments (890.46) -
601-00000-36210Interest Earnings (78,963.62) (36,125.86)
601-00000-36220Amortization ofBond Premium (42,169.00) -
601-00000-36300Reimbursement (1,784.58) -
601-00000-37110Usage Rate (759,233.39) (201,198.92)
601-00000-37111Bulk Water (23,657.95) (202.34)
601-00000-37115Undesignated Funds 49.75 (60.00)
601-00000-37150Connection/Reconnection fees (1,800.00) (300.00)
601-00000-37160Penalties andForfeited Disc (6,080.57) (2,024.14)
601-00000-37171Water Meter (6,981.00) (10,421.00)
601-00000-37180Water Fixed Charge (358,364.26) (120,133.03)
601-00000-37181MDS Test Fee (18,009.62) (6,028.18)
601-00000-37190Contributed Revenue (1,545.46) -
601-00000-39201Transfers from Other Funds (165,000.00) (21,182.56)
601-49302-39310Issuance of Debt - -
601-49302-39311Bond Premium - -
601-47100-600Debt Service - Principal - -
601-47100-611Bond Interest 57,602.00 -
601-47100-620Agent Fees 1,360.22 -
601-47100-621Financing Fees - -
601-49300-710Loss on Disposal of Assets - -
601-49300-720Transfers to OtherFunds 5,460.00 6,865.00
601-49440-101Water Dept Salaries 204,478.27 71,094.33
601-49440-110Severance Payment - -
601-49440-112Pension Expense (22,939.00) -
601-49440-121PERA Contributions 8,810.16 5,259.40
601-49440-122FICA Contributions 14,516.29 5,259.60
601-49440-123Deferred Comp-Employer 1,899.86 -
601-49440-125Medicare Contributions - -
601-49440-130HSA- Employer Contribution 4,620.57 2,584.57
601-49440-131Health Insurance 19,218.21 7,137.68
601-49440-132Dental Insurance 1,257.68 455.52
601-49440-133Life Insurance 156.14 64.25
601-49440-134Disabilty Insurance 1,510.66 550.76
601-49440-151Workers Comp. Insur. Prem. 5,988.00 -
601-49440-171Clothing Allowance 1,381.68 180.07
601-49490-101Water Admin Salaries 15,771.76 5,745.56
601-49490-110Severance Payment - -
601-49490-121PERA Contributions 1,108.72 430.94
601-49490-122FICA Contributions 1,150.04 429.09
601-49490-125Medicare Contributions - -
601-49490-130HSA- Employer Contribution 240.00 240.00
601-49490-131Health Insurance 1,560.00 1,232.16
601-49490-132Dental Insurance 97.92 66.64
601-49490-133Life Insurance 15.96 5.32
601-49490-134Disabilty Insurance 178.92 61.12
601-49490-151Workers Comp. Insur. Prem. 101.00 -
601-49490-171Clothing Allowance - -
601-49440-200Office Supplies 90.74 179.98
601-49440-201Postage 2,596.05 6.10
601-49440-205Motor Fuel 7,449.35 2,011.01
601-49440-210Operating Supplies 965.59 635.03
601-49440-214Small Tool & Minor Equipment 1,871.46 46.02
601-49420-210Operating Supplies 11,307.39 1,841.69
601-49421-210Operating Supplies 21,656.87 3,945.41
601-49421-214Small Tool & Minor Equipment 265.94 -
601-49430-210Operating Supplies 235,618.95 226,777.67
601-49490-200Office Supplies 89.00 66.63
601-49490-201Postage 2,842.72 1,003.78
601-49490-210Operating Supplies 2,200.67 443.61
601-49430-220Repair and Maintenance 68,118.07 3,444.54
601-49421-220Repair and Maintenance 9,580.10 6,433.08
601-49420-220Repair and Maintenance 1,774.18 3,781.79
601-49440-220Repair and Maintenance 15,742.39 21,858.07
601-49440-230Vehicle Repair & Maintenance 1,817.30 396.49
601-49410-220Repair and Maintenance 24.38 2,900.00
601-49435-220Repair and Maintenance - -
601-49490-220Repair and Maintenance - -
601-49490-300Professional Services - -
601-49490-310Software Support 2,718.17 2,723.95
601-49435-300Professional Services - -
601-49410-300Professional Services 517.50 -
601-49420-300Professional Services 943.00 -
601-49420-310Software Support - -
601-49420-312Tests 3,395.00 840.00
601-49430-300Professional Services 57,002.85 4,940.13
601-49434-303Engineering Fee - -
601-49421-300Professional Services 4,511.33 1,195.00
601-49421-310Software Support - -
601-49440-300Professional Services 8,833.24 1,060.00
601-49440-303Engineering Fee 642.33 1,706.50
601-49440-310Software Support 329.12 15.75
601-49440-314Safety Program 1,448.69 433.47
601-49440-444Annual Water Connection Fee 18,058.00 4,520.00
601-49440-319Gopher State Notification 515.72 72.93
601-49440-321Telephone 1,552.95 378.03
601-49435-321Telephone 3,986.95 1,424.71
601-49435-381Electric Utilities 3,172.13 1,216.58
601-49421-321Telephone 5,426.95 1,904.71
601-49421-381Electric Utilities 34,306.61 8,448.21
601-49421-383Gas Utilities 7,233.76 3,679.08
601-49410-381Electric Utilities 5,939.95 1,261.41
601-49410-383Gas Utilities 1,065.75 530.19
601-49420-321Telephone 4,406.95 1,564.71
601-49420-381Electric Utilities 10,171.75 3,071.63
601-49420-383Gas Utilities 1,704.32 999.92
601-49420-530Improvements Other than Bldgs - -
601-49420-580Other Equipment 1,166.00 -
601-49421-580Other Equipment - -
601-49421-581Computer Hardware - -
601-49435-530Improvements Other than Bldgs - -
601-49440-520Buildings & Structures - -
601-49440-530Improvements Other than Bldgs - -
601-49440-550Motor Vehicles - 16,645.06
601-49440-580Other Equipment 1,677.82 -
601-49440-581Computer Hardware - -
601-49490-580Other Equipment - -
601-49490-581Computer Hardware - -
601-49440-361General Liability Insurance 25,420.16 26,053.54
601-49434-340Advertising - -
601-49440-317Other fees 4.00 -
601-49440-331Travel & Conference Expense 910.25 712.60
601-49440-433Dues & Memberships 1,079.97 1,291.30
601-49440-437Real Estate Taxes - 324.00
601-49440-442Water Permit 3,646.54 2,590.22
601-49440-446License 198.94 -
601-47100-413Lease Payments 5,800.00 -
601-49490-317Other fees - -
601-49490-321Telephone - -
601-49490-331Travel & Conference Expense 138.92 7.00
601-49490-340Advertising 154.65 -
601-49490-410Rentals 803.74 301.19
601-49490-441Sales & Use Tax - -
601-49970-420Depreciation 465,902.90 -
0.00)
Sewer Fund12/31/20244/30/2024
602-10199Cash 3,373,500.04 3,534,601.52
602-10450Interest Receivable 18,423.88 18,423.88
602-10500Accounts Receivable 261,952.16 274,337.82
602-10550Due From other Gov tUnits - -
602-10600Prepaid Items - -
602-12100Special Assessments Receivable 465.73 465.73
602-12150Delinquent Special Assmt 283.10 283.10
602-16100Land 4,940.50 4,940.50
602-16200Building 1,295,253.80 1,295,253.80
602-16210Accumulated Depr. Building (402,928.56) (402,928.56)
602-16300Treatment Plant & Line 9,940,907.92 9,940,907.92
602-16310Accumulated Depr. Plant & Line (3,553,062.73) (3,553,062.73)
602-16320Intangible Assets 9,180,409.24 10,977,564.10
602-16330Accumulated Depr. Intangibles (3,585,353.01) (3,653,350.01)
602-16400Machinery & Equipment 736,778.71 736,778.71
602-16410Accumulated Depr. Mach & Equip (604,021.98) (604,021.98)
602-16500Construction inProgress 804,029.16 804,029.16
602-17100Deferred Outflows ofResources 25,325.00 25,325.00
602-20200Accounts Payable (5,757.63) 121,496.49
602-20201Salaries Payable (5,279.79) (5,279.79)
602-20202Due toOther Govt Units (154,238.41) (154,238.41)
602-20300Interest Payable (23,252.00) (23,252.00)
602-22200Unearned Revenue - -
602-22204Deferred Inflow ofResources (49,878.00) (49,878.00)
602-22500Bonds Payable -Current Portion (130,000.00) (130,000.00)
602-22510Notes Payable -Current Portion (395,299.00) (395,299.00)
602-22530Revenue Bonds Payable (410,000.00) (410,000.00)
602-22540Noncurrent Notes Payable (2,609,771.00) (2,609,771.00)
602-23200Unamortized Bond Premium (28,230.00) (28,230.00)
602-22810Accrued Fringe Benefits (20,434.74) (20,434.74)
602-22820Noncurrent Fringe Benefits (63,317.82) (63,317.82)
602-22840Net Pension Liability (68,335.00) (68,335.00)
602-24413Design. FdBal - Capital (1,834,250.94) (1,834,250.94)
602-24415Design. Fd Bal - Operations - -
602-25310Unassigned Fund Balance (2,283,227.66) (3,626,895.56)
602-26120Contrib. from Developers (1,735,533.93) (1,735,533.93)
602-26140Contrib. from Capital Funds (6,336,429.14) (6,336,429.14)
602-00000-33400State Grants and Aids (3,192.00) -
602-00000-36100Special Assessments (738.80) -
602-00000-36210Interest Earnings (124,161.61) (68,825.34)
602-00000-36220Amortization ofBond Premium (3,642.00) -
602-00000-36230Contributions - General (941.00) -
602-00000-36300Reimbursement - -
602-00000-37110Sanitary Sewer UseService (914,927.62) (313,305.06)
602-00000-37160Penalties andForfeited Disc (7,160.58) (2,786.83)
602-00000-37180Sewer Fixed Charge (642,553.55) (224,897.96)
602-00000-37190Contributed Revenue (839,039.84) -
602-00000-39201Transfers from Other Funds (72,500.00) (16,182.56)
602-00000-39203Gain onSale of Assets - -
602-49302-39310Transfer from other Funds - -
602-49302-39311Bond Premium - -
602-47100-600Debt Service - Principal - -
602-47100-611Bond Interest 55,262.00 -
602-49480-602St. Cloud Debt Service - 110,163.14
602-47100-620Agent Fees 734.62 -
602-49300-621Financing Fees - -
602-49300-710Loss on Disposal of Assets 23,817.14 -
602-49300-720Transfers to OtherFunds 27,580.00 29,050.00
602-49450-101Sewer Dept Salaries 157,422.23 45,205.32
602-49450-110Severance Payment - -
602-49450-112Pension Expense (21,724.00) -
602-49450-121PERA Contributions 5,342.02 3,315.47
602-49450-122FICA Contributions 11,195.58 3,392.51
602-49450-123Deferred Comp-Employer 1,884.29 -
602-49450-125Medicare Contributions - -
602-49450-130HSA- Employer Contribution 4,146.09 2,342.40
602-49450-131Health Insurance 17,334.88 6,440.08
602-49450-132Dental Insurance 1,171.82 420.72
602-49450-133Life Insurance 113.55 37.84
602-49450-134Disabilty Insurance 1,446.30 524.72
602-49450-151Workers Comp. Insur. Prem. 5,960.00 -
602-49450-171Clothing Allowance 1,364.95 179.36
602-49490-101Sewer Admin Salaries 15,771.76 5,745.56
602-49490-110Severance Payment - -
602-49490-121PERA Contributions 1,108.72 430.94
602-49490-122FICA Contributions 1,150.03 429.09
602-49490-125Medicare Contributions - -
602-49490-130HSA- Employer Contribution 240.00 240.00
602-49490-131Health Insurance 1,560.00 1,232.16
602-49490-132Dental Insurance 97.92 66.64
602-49490-133Life Insurance 15.96 5.32
602-49490-134Disabilty Insurance 178.92 61.12
602-49490-151Workers Comp. Insur. Prem. 101.00 -
602-49490-171Clothing Allowance - -
602-49490-200Office Supplies 89.00 66.63
602-49490-201Postage 2,827.41 1,003.79
602-49490-210Operating Supplies 2,200.68 443.61
602-49450-200Office Supplies 60.61 -
602-49450-205Motor Fuel 8,606.42 2,403.91
602-49450-210Operating Supplies 1,449.57 817.21
602-49450-214Small Tool & Minor Equipment 820.53 123.22
602-49470-210Operating Supplies 2,378.52 -
602-49480-201Postage 144.51 -
602-49480-210Operating Supplies 14,300.81 -
602-49480-214Small Tool & Minor Equipment - -
602-49480-220Repair and Maintenance 1,704.97 1,750.43
602-49470-220Repair and Maintenance 1,130.12 1,199.80
602-49450-220Repair and Maintenance 1,471.40 809.00
602-49450-230Vehicle Repair & Maintenance 2,967.54 2,294.37
602-49472-220Repair and Maintenance 127.19 -
602-49471-220Repair and Maintenance - -
602-49473-220Repair and Maintenance 32,910.05 -
602-49490-220Repair and Maintenance - -
602-49490-300Professional Services 375.00 -
602-49490-303Engineering Fee - -
602-49490-310Software Support 2,718.17 2,723.95
602-49490-314Safety Program 1,872.62 433.47
602-49490-319Gopher State Notification 515.73 72.92
602-49471-300Professional Services - -
602-49450-300Professional Services 4,180.83 -
602-49450-303Engineering Fee 293.75 -
602-49450-310Software Support 329.12 15.75
602-49470-300Professional Services 400.00 325.00
602-49480-300Professional Services 1,800.00 325.00
602-49480-303Engineering Fee - -
602-49480-312Tests 9,474.50 2,906.00
602-49480-321Telephone 3,987.00 1,424.73
602-49480-381Electric Utilities 6,258.55 1,403.92
602-49480-383Gas Utilities 741.46 391.79
602-49470-381Electric Utilities 3,960.09 1,276.55
602-49490-321Telephone - -
602-49450-321Telephone 1,518.95 378.03
602-49472-381Electric Utilities 1,235.10 362.87
602-49473-381Electric Utilities 1,911.07 528.36
602-49471-381Electric Utilities 3,120.32 436.25
602-49471-383Gas Utilities 429.63 282.72
602-49450-361General Liability Insurance 11,927.14 12,298.54
602-49450-520Buildings & Structures - -
602-49450-530Improvements Other than Bldgs - -
602-49450-550Motor Vehicles - 16,645.06
602-49450-580Other Equipment 1,677.82 -
602-49450-581Computer Hardware - -
602-49470-530Improvements Other than Bldgs - -
602-49471-530Improvements Other than Bldgs - -
602-49472-530Improvements Other than Bldgs - -
602-49473-530Improvements Other than Bldgs - -
602-49480-580Other Equipment - -
602-49480-581Computer Hardware - -
602-49490-581Computer Hardware - -
602-49490-331Travel & Conference Expense 138.92 7.00
602-49490-340Advertising - -
602-49450-331Travel & Conference Expense 866.77 362.60
602-49450-433Dues & Memberships 819.33 1,039.30
602-49450-446License 201.37 -
602-49490-410Rentals 803.76 301.20
602-49480-419Sewer Use Rental 286,978.70 61,121.12
602-49970-420Depreciation 530,188.29 -
1,729,157.86
Refuse/Recycling/Compost Fund12/31/20244/30/2025
603-10199Cash 238,925.86 276,279.37
603-10450Interest Receivable 1,149.22 1,149.22
603-10500Accounts Receivable 87,981.76 87,674.54
603-10550Due From other Gov tUnits - -
603-12100Special Assessments Receivable 267.27 267.27
603-12150Delinquent Special Assmt 100.90 100.90
603-16400Machinery & Equipment 67,997.94 67,997.94
603-16410Accumulated Depr. Mach & Equip (51,577.21) (51,577.21)
603-17100Deferred Outflows ofResources 2,427.00 2,427.00
603-20200Accounts Payable (36,221.75) -
603-20201Salaries Payable (568.23) (568.23)
603-20202Due toOther Govt Units (5,852.92) (5,852.92)
603-22204Deferred Inflow ofResources (4,227.00) (4,227.00)
603-22810Accrued Fringe Benefits (986.58) (986.58)
603-22820Noncurrent Fringe Benefits (43.37) (43.37)
603-22840Net Pension Liability (6,548.00) (6,548.00)
603-24413Design. FdBal - Capital (30,750.00) (30,750.00)
603-24415Design. Fd Bal - Operations - -
603-25310Unassigned Fund Balance (179,962.51) (220,059.43)
603-26140Contrib. from Capital Funds (42,015.46) (42,015.46)
603-00000-31320State Sales Tax 0.01 44.90
603-00000-32000Licenses & Permits (35,315.50) (11,030.00)
603-00000-33400State Grants and Aids (306.00) -
603-00000-34404Penalties andForfeifted Disc (3,542.30) (1,396.21)
603-00000-36100Special Assessments (406.49) -
603-00000-36210Interest Earnings (7,581.16) (4,385.96)
603-00000-36300Reimbursement - -
603-00000-37105Refuse Collection Charges (480,867.52) (160,716.14)
603-00000-37190Contributed Revenue - -
603-00000-39201Transfers from Other Funds (11,350.00) (24,850.00)
603-43230-101Refuse Salaries 18,707.13 6,585.37
603-43230-110Severance Payment - -
603-43230-112Pension Expense (793.00) -
603-43230-121PERA Contributions 1,325.85 492.96
603-43230-122FICA Contributions 1,360.51 489.21
603-43230-123Deferred Comp-Employer - -
603-43230-125Medicare Contributions - -
603-43230-130HSA- Employer Contribution 357.50 300.00
603-43230-131Health Insurance 2,520.00 1,582.16
603-43230-132Dental Insurance 168.24 90.72
603-43230-133Life Insurance 19.12 5.76
603-43230-134Disabilty Insurance 228.48 75.92
603-43230-151Workers Comp. Insur. Prem. 231.00 -
603-43230-171Clothing Allowance 30.91 -
603-43230-200Office Supplies 88.99 66.63
603-43230-201Postage 2,827.41 1,003.79
603-43230-210Operating Supplies 582.00 680.00
603-43230-302Maintenance Reimbursement 1,250.00 1,180.00
603-43230-300Professional Services 29,145.00 -
603-43230-384Refuse Disposal 434,186.57 113,516.53
603-43230-304Legal Fees 142.50 -
603-43230-310Software Support 2,718.16 2,543.11
603-43230-321Telephone - -
603-43230-331Travel & Conference Expense 138.92 7.00
603-43230-340Advertising - -
603-43230-410Rentals 803.79 301.21
603-43230-510Land and Land Improvements - -
603-43230-580Other Equipment - -
603-43230-581Computer Hardware - -
603-49300-720Transfers to OtherFunds 35.00 145.00
603-49970-420Depreciation 3,197.96 -
0.00) (0.00)
Storm Water Fund12/31/20244/30/2025
651-10199Cash 662,718.57 693,109.99
651-10450Interest Receivable 3,206.78 3,206.78
651-10500Accounts Receivable 36,547.85 36,429.45
651-10550Due From other Gov tUnits - -
651-12100Special Assessments Receivable 4,224.64 4,224.64
651-12150Delinquent Special Assmt 18.11 18.11
651-16300Treatment Plant & Line 7,331,027.05 7,331,027.05
651-16310Accumulated Depr. Plant & Line (2,289,141.19) (2,289,141.19)
651-16320Intangible Assets 67,914.92 67,914.92
651-16400Machinery & Equipment 172,248.21 172,248.21
651-16410Accumulated Depr. Mach & Equip (123,284.66) (123,284.66)
651-16500Construction inProgress - -
651-17100Deferred Outflows ofResources 5,105.00 5,105.00
651-20200Accounts Payable (579.01) -
651-20201Salaries Payable (879.95) (879.95)
651-20400Contracts Payables - -
651-22204Deferred Inflow ofResources (8,893.00) (8,893.00)
651-22810Accrued Fringe Benefits (1,367.22) (1,367.22)
651-22820Noncurrent Fringe Benefits (2,757.23) (2,757.23)
651-22840Net Pension Liability (13,775.00) (13,775.00)
651-24413Design. FdBal - Capital (86,039.74) (86,039.74)
651-24415Design. Fd Bal - Operations - -
651-25310Unassigned Fund Balance (2,510,308.24) (2,533,846.15)
651-26100Contrib. from Developers (505,905.98) (505,905.98)
651-26140Contrib. from Capital Funds (2,716,542.00) (2,716,542.00)
651-00000-33400State Grants and Aids (643.00) -
651-00000-36100Special Assessments (5,419.22) -
651-00000-36210Interest Earnings (21,548.29) (13,177.38)
651-00000-37101Storm Water Develop Fee - -
651-00000-37110Storm Water UseService (218,706.14) (73,420.77)
651-00000-37160Penalties andForfeifted Disc (1,160.01) (452.32)
651-00000-37190Contributed Revenue (21,931.33) -
651-00000-39201Transfers from Other Funds - -
651-49300-710Loss on Disposal of Assets - -
651-49300-720Transfers to OtherFunds 17,595.00 18,855.00
651-49490-101Stormwater Admin Salaries 11,828.79 4,309.19
651-49490-110Severance Payment - -
651-49490-121PERA Contributions 831.63 323.18
651-49490-122FICA Contributions 862.51 321.84
651-49490-123Deferred Comp-Employer - -
651-49490-125Medicare Contributions - -
651-49490-130HSA- Employer Contribution 180.00 180.00
651-49490-131Health Insurance 1,170.00 924.16
651-49490-132Dental Insurance 73.44 50.00
651-49490-133Life Insurance 12.00 4.00
651-49490-134Disabilty Insurance 134.16 45.84
651-49490-151Workers Comp. Insur. Prem. 50.00 -
651-49490-171Clothing Allowance - -
651-49900-101Stormwater Dept Salaries 16,049.35 8,268.37
651-49900-110Severance Payment - -
651-49900-112Pension Expense (525.00) -
651-49900-121PERA Contributions 936.13 611.02
651-49900-122FICA Contributions 1,209.11 627.08
651-49900-123Deferred Comp-Employer 345.67 -
651-49900-125Medicare Contributions - -
651-49900-130HSA- Employer Contribution 334.17 340.47
651-49900-131Health Insurance 1,920.00 700.00
651-49900-132Dental Insurance 140.64 48.16
651-49900-133Life Insurance 13.73 6.13
651-49900-134Disabilty Insurance 186.00 62.00
651-49900-151Workers Comp. Insur. Prem. 1,341.00 -
651-49900-171Clothing Allowance 108.99 15.19
651-49900-210Operating Supplies 980.88 -
651-49900-214Small Tool & Minor Equipment - -
651-49490-200Office Supplies 88.99 66.63
651-49490-201Postage 1,061.53 920.46
651-49900-302Maintenance Reimbursement 14,000.00 14,000.00
651-49900-220Repair and Maintenance - -
651-49490-300Professional Services - -
651-49490-310Software Support 2,113.81 2,369.76
651-49900-300Professional Services - 400.00
651-49900-303Engineering Fee 1,365.00 275.50
651-49900-304Legal Fees - -
651-49900-310Software Support 1,313.12 -
651-49900-321Telephone 1,160.50 264.21
651-49490-331Travel & Conference Expense 90.22 590.25
651-49490-340Advertising - -
651-49900-331Travel & Conference Expense - -
651-49900-340Advertising - -
651-49900-308Community Programs 1,779.00 1,620.00
651-49900-410Rentals - -
651-49490-581Computer Hardware - -
651-49900-510Land and Land Improvements - -
651-49900-530Improvements Other than Bldgs 498.00 -
651-49900-580Other Equipment - -
651-49900-581Computer Equipment - -
651-49970-420Depreciation 166,621.71 -
0.00) (0.00)
Street Light Utility Fund12/31/20244/30/2025
652-10199Cash 144,648.10 148,576.05
652-10450Interest Receivable 748.93 748.93
652-10500Accounts Receivable 14,707.70 14,655.16
652-10550Due From other Gov tUnits - -
652-12100Special Assessments Receivable 27.61 27.61
652-12150Delinquent Special Assmt 8.69 8.69
652-17100Deferred Outflows ofResources 1,214.00 1,214.00
652-20200Accounts Payable (4,961.27) -
652-20201Salaries Payable (1,031.76) (1,031.76)
652-20202Due toother Government Units - -
652-22204Deferred Inflow ofResources (2,115.00) (2,115.00)
652-22810Accrued Fringe Benefits (493.30) (493.30)
652-22820Noncurrent Fringe Benefits (21.67) (21.67)
652-22840Net Pension Liability (3,277.00) (3,277.00)
652-24413Design. FdBal - Capital (104,640.26) (104,640.26)
652-24415Design. Fd Bal - Operations - -
652-25310Unassigned Fund Balance (19,777.01) (44,814.77)
652-00000-33400State Grants and Aids (153.00) -
652-00000-33430Other Grants/Aids - -
652-00000-36100Special Assessments (48.63) -
652-00000-36210Interest Earnings (5,107.78) (2,834.34)
652-00000-36230Contributions - General - -
652-00000-36300Reimbursement - -
652-00000-37110Usage Rate (87,900.20) (29,419.82)
652-00000-37160Penalties andForfeited Disc (400.02) (148.10)
652-00000-39201Transfers from Other Funds - -
652-43160-101Street Light Salaries 12,317.02 4,649.06
652-43160-110Severance Payment - -
652-43160-112Pension Expense (393.00) -
652-43160-121PERA Contributions 880.94 348.59
652-43160-122FICA Contributions 896.54 347.21
652-43160-123Deferred Comp 345.67 -
652-43160-125Medicare Contributions - -
652-43160-130HSA- Employer Contribution 454.15 460.47
652-43160-131Health Insurance 2,700.00 1,316.00
652-43160-132Dental Insurance 190.08 81.52
652-43160-133Life Insurance 13.58 4.18
652-43160-134Disabilty Insurance 182.64 61.52
652-43160-151Workers Comp. Insur. Prem. 1,104.00 -
652-43160-171Clothing Allowance 10.60 -
652-43160-201Postage 1,061.53 920.46
652-43160-220Repair and Maintenance 349.48 -
652-43160-300Professional Services - -
652-43160-303Engineering - -
652-43160-310Software Support 780.01 354.18
652-43160-386Street Lighting 47,493.48 14,068.89
652-43160-331Travel & Conference Expense 60.15 3.50
652-43160-340Advertising - -
652-43160-387Holiday Decorations - -
652-43160-410Rentals 125.00 -
652-43160-530Improvements Other than Bldgs - -
652-43160-580Other Equipment - -
652-49300-720Transfers to OtherFunds - 950.00
0.00 (0.00)
STAFF MEMO
Prepared by:
Lori Bartlett, Finance
Meeting Date:
5-19-25
☒ Consent Agenda Item
☐ Regular Agenda Item
Agenda Item #
4d
Reviewed by:
Item:
Donations and Contributions
ACTION REQUESTED
Consider approval Resolution 2025-031 accepting donations as presented.
BOARD/COMMISSION/COMMITTEE RECOMMENDATION
none
PREVIOUS COUNCIL ACTION
none
REFERENCE AND BACKGROUND
Minnesota Statute 465.03 requires that all gifts and donations of real or personal property be accepted
only with the adoption of a resolution approved by two-thirds of the members of the City Council. By
accepting the donations, the city is accepting the intent of the donations. The in-kind donations are
estimates.
Total Dog Park cash donations received through 4/30/25 = $7,153 + $1,149 for pavers and refreshments.
Total Community Center/YMCA donations received through 4/30/25 = $471,243.
BUDGET IMPACT
$1,163.00
STAFF RECOMMENDED ACTION
Accept the donations as presented in Resolution 2025-031.
SUPPORTING DATA/ATTACHMENTS
Resolution 2025-031 Accepting Donations
RESOLUTION 2025-031
RESOLUTION ACCEPTED DONATION(S)
WHEREAS, The City of St. Joseph is generally authorized to accepts gifts and bequests pursuant to
Minnesota Statutes Section 465.03 and Minnesota Statutes Section 471.17 for the benefit of its citizens;
and
WHEREAS, said Minnesota Statute 465.03 requires that all gifts and donations of real or personal
property be accepted only with the adoption of a resolution approved by two-thirds of the members of the
City Council; and
WHEREAS, the following person/persons and/or entity/entities has/have donated real and/or personal
property as follows:
DONOR METHOD PURPOSE AMOUNT
St. Joseph Volunteer Fire Relief Cash Fire Dept Side by Side $1,163.00
WHEREAS, all such donations have been contributed to assist the various city departments and
programs as allowed by law; and
WHEREAS, the City Council finds that it is appropriate to accept the donations offered.
NOW, THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF ST. JOSEPH,
MINNESOTA, AS FOLLOWS:
1. The donations described above are accepted.
2. The Finance Department is hereby directed to issue receipts to each donor acknowledging the
city’s receipt of the donors’ donations.
ADOPTED by the City Council this 19th day of May, 2025.
CITY OF ST. JOSEPH
Adam Scepaniak, Mayor
ATTEST
David Murphy, City Administrator
STAFF MEMO
Prepared by:
City Clerk
Meeting Date:
5/19/25
☒ Consent Agenda Item
☐ Regular Agenda Item
Agenda Item #
4e
Reviewed by:
Item:
Approval of Temporary On-Sale Liquor License
ACTION REQUESTED Approve the temporary on-sale liquor license submitted by Bad Habit
Brewing for Make a Difference 5k/1k on September 13, 2025.
BOARD/COMMISSION/COMMITTEE RECOMMENDATION N/A
PREVIOUS COUNCIL ACTION Council approved the Make a Difference 5k/1k event.
REFERENCE AND BACKGROUND
In order to serve liquor at the event, Bad Habit is required to apply for a temporary on-sale
liquor license.
BUDGET IMPACT N/A
STAFF RECOMMENDED ACTION
Approve the temporary on-sale liquor license submitted by Bad Habit Brewing for Make a
Difference 5k/1k on September 13, 2025.
SUPPORTING DATA/ATTACHMENTS
Temporary On-Sale Liquor License Application
STAFF MEMO
Prepared by:
City Clerk
Meeting Date:
5/19/25
☒ Consent Agenda Item
☐ Regular Agenda Item
Agenda Item #
4f
Reviewed by:
Item:
Approval of Temporary On-Sale Liquor License
ACTION REQUESTED Approve the temporary on-sale liquor license submitted by Mad Hatter
Whiskey dba Obbink Distilling for the White Peony Summer Market on June 7, 2025.
BOARD/COMMISSION/COMMITTEE RECOMMENDATION N/A
PREVIOUS COUNCIL ACTION Council previously approved the street closure request for White
Peony’s Summer Market on June 7, 2025.
REFERENCE AND BACKGROUND
In order to serve liquor at the event, Obbink is required to apply for a temporary on-sale liquor
license.
BUDGET IMPACT N/A
STAFF RECOMMENDED ACTION
Approve the temporary on-sale liquor license submitted by Mad Hatter Whiskey dba Obbink
Distilling for the White Peony Summer Market on June 7, 2025.
SUPPORTING DATA/ATTACHMENTS
Temporary On-Sale Liquor License Application
STAFF MEMO
Prepared by:
Community Development
Meeting Date:
May 19th, 2025
☒ Consent Agenda Item
☐ Regular Agenda Item
Agenda Item #
4g
Reviewed by:
Item:
Special Home Occupation License Renewal - 201 Pond View Lane
ACTION REQUESTED
Consent gives automatic approval of Resolution 2025-029
If the item is pulled from consent staff requests motion on resolution 2025-029
BOARD/COMMISSION/COMMITTEE RECOMMENDATION
Planning Commission recommended unanimous approval (5-0) of the license renewal resolution for the
maximum duration of five years at the May 12th meeting. A public hearing was also conducted (no one spoke).
PREVIOUS COUNCIL ACTION The Special Home Occupation license was approved in 2024. The Ordinance
required a maximum duration of one year for an initial Special Home Occupation license and as such the license
is up for renewal.
REFERENCE AND BACKGROUND
Nothing has changed since the initial approval in 2024.
Sheryl Matters owns and lives at 201 Pond View Lane and is seeking renewal of her Special Home
Occupation license for her massage therapy business. Massage therapy businesses are permitted through a
“Special Home Occupation license”.
Since the issuance of the Home Occupation in 2024 staff have received zero concerns or complaints.
Ordinance requires a maximum initial license of one year but after the first year the license can be renewed
for up to five.
The therapy business is located in a 10’x12’ 120 square foot area of the home.
The applicant will be required to meet all massage license requirements and inspections. All parking
generated by the businesses will be met on-site and the applicant will only have one client at a time coming
to the home.
Hours of operations are proposed to be roughly Monday – Saturday from 11AM to 7PM. Owner has
indicated that these are just the window of when operations may likely occur, but the business will be very
part time and not open every hour, and every day during this timeframe.
It should also be noted that Massage Therapy businesses also require a License that is separate from Home
Occupation. Home Occupation covers the use of the home and zoning elements while the Massage Therapy
license is issued by the city and covers the health, sanitation, and background check of the licensee of the
business. The Massage Therapy license is issued annually and the city of St. Cloud through a joint
agreement conducts this inspection and completes the background check.
BUDGET IMPACT None.
SUPPORTING DATA/ATTACHMENTS
1. Home Occupation application and site plan
2. Finding of Fact Resolution 2025-029
RESOLUTION 2025-029
ADOPTING FINDINGS OF FACT AND APPROVING A
SPECIAL HOME OCCUPATION LICENSE RENEWAL FOR
MASSAGE THERAPY BUSINESS AT
201 POND VIEW LANE
WHEREAS, Sheryl Matters, hereinafter referred to as “Applicant” has properly applied for a special
home occupation license renewal for a Massage Therapy business on the property generally described in
Exhibit A and referred to hereinafter as “subject property”; and
WHEREAS, the St. Joseph Planning Commission reviewed the request and recommended approval of
the special home occupation license on May 12th, 2025; and
NOW, THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ST.
JOSEPH, MINNESOTA, hereby, makes the following Findings of Fact:
1. That the subject property is zoned R-1 Single Family Residential District and a massage therapy
business will be operated in the home of the subject property contingent on approval of a special
home occupation license.
2. That the home occupation will not be detrimental to or endanger public health, safety, morals,
comfort, or general welfare of the neighborhood and will be harmonious to the objectives of the
Comprehensive Plan of the City.
3. That the massage therapy business will be located within the existing single-family home in a 10’
(foot) x 12’ (foot) room and will be operated and maintained so as to be harmonious and
appropriate in appearance with character of the area and will not be hazardous or disturbing to
existing or future neighboring uses.
4. That adequate utilities and services, have been provided and will not create excessive additional
costs for services and/or be detrimental to the economic welfare of the community.
5. That the home occupation will not involve activities, processes, materials, equipment and
conditions of operation that will be detrimental to any persons, property, or general welfare
because of excessive production of traffic, noise, smoke, fumes, glare or odors.
6. That the existing access to the property off Pond View Lane will be maintained and no new
accesses will be constructed. In addition, the access will not create traffic congestion or interfere
with traffic or surrounding public thoroughfares.
7. That all parking generated from the special home occupation shall be off-street and that the
existing driveway is concrete and will provide sufficient off-street parking serving the proposed
use.
BE IT FURTHER RESOLVED BY THE CITY COUNCIL OF THE CITY OF ST. JOSEPH,
MINNESOTA, that the following conditions apply to the Special Home Occupation license for the
subject property as follows:
1. Based on the aforementioned Findings of Fact, a special home occupation license (“license”) to
allow the operation of a massage therapy business at the residential home on the Subject Property
is hereby granted.
2. The property owner will manage the Subject Property in compliance with the St. Joseph Code of
Ordinances.
3. The home occupation on the Subject Property shall be limited to the 120 Square feet as proposed
within the home. The applicant shall be limited to one client at a time on the premises.
4. The outdoor storage of equipment or materials used in the home occupation is prohibited, except
for personal automobiles. All parking generated by the business shall be met within the driveway
of the subject property.
5. That there shall be no retail operations on the Subject Property.
6. That the property owner is responsible for meeting all Federal, State, Local, and City
requirements and obtaining all permits and licenses.
7. Revocation. The City Council shall revoke the home occupation license if it determines that the
terms and conditions of the license as issued are no longer being complied with.
8. Renewal: City Code 502.16 Subd. 5 Section B 3. requires a maximum renewal for Special Home
Occupation License of five years therefore the license shall be renewed by May 19th, 2030.
9. The Zoning Administrator and/or his/her designee shall have the right to inspect the premises in
which the occupation is being conducted to ensure compliance with the provisions of the license
and City Ordinance.
Whereupon said resolution was declared duly passed and adopted by the St. Joseph City Council this 19th
day of May 2025.
CITY OF ST. JOSEPH
By
Adam Scepaniak, Mayor
ATTEST
By
David Murphy, City Administrator
This document drafted
by:
City of St. Joseph, MN
75 Callaway St E
St. Joseph, MN
EXHIBIT A
201 Pond View Lane, St. Joseph, MN
Lot 004, Block 005 of Pond View Ridge
Parcel ID: 84.53790.0024
STAFF MEMO
Prepared by:
Community Development
Meeting Date:
May 19th, 2025
☒ Consent Agenda Item
☐ Regular Agenda Item
Agenda Item
4h
Reviewed by:
Item:
Interim Use Permit Residential Rental in Commercial Area - 403 1st
Ave NE
ACTION REQUESTED
Consent authorizes approval of Finding of Fact Resolution 2025-030
If item is pulled from consent staff requests action on Finding of Fact Resolution 2025-030
BOARD/COMMISSION/COMMITTEE RECOMMENDATION
Planning Commission conducted public hearing at their May 12th meeting (no one spoke).
Planning Commission voted unanimously (5-0) to approve the Finding of Fact resolution 2025-030.
PREVIOUS COUNCIL ACTION N/A
REFERENCE AND BACKGROUND
Obbink Distilling Properties, LLC is requesting an Interim Use Permit to allow residential rental of the
property at 403 1st Ave NE, currently zoned B-2 Highway Commercial. The home was owner-occupied
from 2016 to 2024 but has remained vacant since its purchase. Originally intended to either be used or
demolished as part of Phase 2 expansion plans by Obbink—which are now on hold—the owner seeks
approval to rent the home until Phase 2 plans can proceed forward.
Single-family rental dwellings within Commercial areas are allowed as an Interim Use for a maximum
term of five years but may be less as approved by the City Council and after a review and
recommendation by the Planning Commission. The Planning Commission is recommending a max
issuance of five years for the request.
The block where the subject property is located (see Exhibit A) has a majority of commercial uses to
the South, North, and West. Obbink owns the properties to the North and West and has plans to
eventually consolidate those areas with the subject parcel as part of a Phase 2 expansion.
The properties to the East are a mixture of commercial, single-family rental, multi-family, and
abandoned (Feed mill site which is future commercial).
BUDGET IMPACT: None.
SUPPORTING DATA/ATTACHMENTS:
Exhibits
IUP application
Resolution 2025-030 approving IUP for max duration of five years (May 19th, 2030).
Exhibit A
Exhibit B
Current Zoning
Future land use map
St. Joseph Application for Interim Use Page | 1
Fee: $400.00
Application for Interim Use Permit – Residential Rental
Purpose:
The Purpose and intent of allowing interim uses is:
1. To allow a use for a limited period of time that reasonably utilizes the property in the manner not
permitted in the applicable zoning district.
2. To allow a use that is presently acceptable but that, with anticipated development, may not be
acceptable in the future.
Application Information Required:
The following information must accompany the application form (complete with owner signatures):
1. Proof of ownership by providing a copy of the recorded deed. For a non-owner occupied rental request
in a single family residential zoning district, the owner must verify that they have owned the property as
their principal residence (occupied/resided) for at least two years.
2. A copy of the property listing agreement with a licensed realtor if requesting a non-owner rental license
in a single family residential district. The property must be actively on the market for sale and have been
for at least three months.
3. The City may request additional data deemed reasonable and necessary related to the interim use.
Interim Use Permit Process
• Once the application is received, along with all related material and fees, the information will be
reviewed for completeness. If the application is complete, it will be forwarded to the Planning
Commission for review.
• The Planning Commission shall hold a Public Hearing on the proposed Interim Use Permit request and
shall have notice of such hearing published in the City’s designated newspaper at least ten (10) days
prior to such hearing. Notice of such hearing will also be mailed at least ten (10) days prior to each
owner of property situated within 350 feet of the property to which the Interim Use is related. The
Planning Commission shall consider oral or written statements from the applicant, the public, City
Staff, or its own members.
• The Planning Commission shall review and make a recommendation to the City Council on the Interim
Use Permit application. In the review, the Planning Commission shall consider the following:
consistent with the City’s Comprehensive Plan, meets City ordinance, is allowed in the applicable
zoning district as an interim use, will terminate of a specific date or event, and will not result in
additional costs to the public.
Review and Decision by the City Council.
The City Council shall review the application after the Planning Commission has made its recommendation and
will make a final determination to either approve or deny the application. In the granting of approval, the City
Council may impose conditions regarding the location, character and other features of the proposed building,
structure or use as it may deem necessary.
Withdrawal and Refund Policy: An applicant has the right to withdraw an application at any time prior to the
decision on the application. Such withdrawal must be in writing and the fee will not be refundable.
St. Joseph Application for Interim Use Page | 2
Information to Applicants
Please be aware that any written information you provide with your application or at the public hearing,
including pictures, becomes the property of the City of St. Joseph. All comments made at all meetings of the
Planning Commission and City Council becomes part of the public record. Also, generally meetings of the
Planning Commission and City Council are broadcast live on the local cable access channel.
Application Deadline:
All required application information, material and application fee for an Application for Interim Use must be
received by submitted three (3) weeks prior to the next Planning Commission meeting in which you wish to be
heard.
Questions/Submit Completed Applications To:
City of St. Joseph
Attn: Nate Keller Community Development Director
75 Callaway St E
St. Joseph MN 56374
Phone (320) 557-3524 Email: nkeller@cityofstjoseph.com
Fax (320) 363-0342 Website: www.cityofstjoseph.com
PLEASE KEEP THIS MATERIAL FOR YOUR INFORMATION
ATTACHMENTS
1. Application for Interim Use Permit – Residential Rental
2. Schedule of Planning Commission & City Council meeting dates
St. Joseph Application for Interim Use Page | 3
Application for Interim Use Permit
Residential Rental
Application is hereby made for: (applicant must check appropriate request)
Interim Use Permit for Non-Owner Occupied Residential Rental
Interim Use Permit for Owner Occupied Residential Rental
OWNER INFORMATION:
Owner:
Phone: Email:
Mailing Address:
PROPERTY INFORMATION:
Property Address (proposed rental)
Present Zoning:
Parcel Identification Number (PIN):
Legal Description of Property (attach a separate document if needed):
Description of Request:
I hereby certify that I have read, examined, and understand this application and that the information submitted
herein and attached hereto is true, accurate, and correctly states my intentions.
Property Owner Signature(s): Date:
Date:
FOR OFFICE USE ONLY
Fee: $400 Paid
Date application submitted: Date application completed:
X
Obbink Distilling Properties
PO Box 669, St. Joseph, MN, 56374
320-291-6119 ljinveiss@gmail.com
403 1ST AVE NE, ST JOSEPH, MN 56374
(B-2) HIGHWAY BUSINESS
84.53581.0000
S2 OF LOTS 11 THRU 14 BLK 23 LOSO'S ADD SECTION 10 TOWNSHIP 124 RANGE 029
Interim Use Permit to allow us to rent the property temporarily for up to 5 years
4/11/25
RESOLUTION 2025-030
A RESOLUTION ADOPTING FINDINGS OF FACT AND APPROVING AN INTERIM
USE PERMIT FOR THE PURPOSE OF A RESIDENTIAL RENTAL IN A
B-2 HIGHWAY COMMERCIAL DISTRICT
WHEREAS, Obbink Distilling Properties, LLC, owner, has properly applied for an
Interim Use permit renewal for a residential rental in a B-2 Highway Commercial Business District
on the property identified as 403 1st Ave NE, St. Joseph, MN; Property ID 84.53581.0000; and
WHEREAS, the St. Joseph Planning Commission held a public hearing on the Interim Use
permit on May 12th, 2025 at which time all persons wishing to be heard regarding the matter were
given an opportunity to be heard; and
WHEREAS. The public hearing notice was duly published and notice provided to all
property owners within three hundred and fifty (350’) of the subject property; and
WHEREAS, on May 12th, 2025, the St. Joseph Planning Commission reviewed the
proposed Interim Use permit and adopted Findings of Fact in support of granting an Interim use
permit and recommended approval of the request for an Interim use permit to the City Council.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF ST. JOSEPH, MINNESOTA, hereby makes the following Findings of Fact:
1. That the Subject Property is zoned B-2 Highway Commercial Business District, and a
single-family residential rental is a permitted Interim use.
2. That the Interim Use will not be detrimental to or endanger public health, safety, morals,
comfort, or general welfare of the neighborhood and will be harmonious to the objectives
of the Comprehensive Plan of the City.
3. That the residential rental will be located within the existing single family detached
dwelling on the Subject Property and is designed and constructed and will be operated
and maintained to be harmonious and appropriate in appearance with character of the
area and will not be hazardous or disturbing to existing or future neighboring uses.
4. That adequate utilities and services, including utilities, streets, drainage and other
necessary facilities have been provided and will not create excessive additional costs for
services and/or be detrimental to the economic welfare of the community.
5. That the Interim use will not involve activities, processes, materials, equipment and
conditions of operation that will be detrimental to any persons, property, or general
welfare because of excessive production of traffic, noise, smoke, fumes, glare or odors.
6. That the existing access from Date Street East provides access to the Subject Property
and the access will not create traffic congestion or interfere with traffic or surrounding
public thoroughfares.
7. That the existing driveway will provide sufficient off-street parking and loading space to
serve the proposed use.
8. That the Interim use will not result in the loss or damage of natural, scenic or historic
feature and the soil conditions are adequate to accommodate the use.
BE IT FURTHER RESOLVED BY THE CITY COUNCIL OF THE CITY OF ST.
JOSEPH, MINNESOTA, as follows:
1. Based on the aforementioned Findings of Fact, an Interim Use permit (“Permit”) renewal
to allow for a residential rental unit on the Subject Property is hereby approved.
2. The property owner shall obtain a yearly rental license prior to renting and the license
should be renewed annually. Typical rental permit and inspection fees will apply and be
the responsibility of the property owner.
3. The property owner will manage the Subject Property in compliance with the St. Joseph
Code of Ordinances.
4. The residential rental on the Subject Property shall be limited to a family as defined
within the St. Joseph Code of Ordinances.
5. The dwelling shall be maintained as a single-family dwelling defined as a dwelling
occupied by one family and so designed and arranged as to provide cooking and kitchen
accommodations and sanitary facilities for one family only.
6. The property owner is responsible for meeting all Federal, State, Local, and City
requirements and obtaining any and all permits and licenses.
7. Revocation: The City Council shall revoke the interim use permit when it determines that
the terms and conditions of the permit as issued are no longer being complied with.
8. Expiration: The Permit shall expire on May 19th, 2030. If within one (1) year after
issuance of granting an Interim Use permit, the use permitted has not started, then the
permit is null and void, unless the City Council has approved a petition for an extension.
The interim use permit shall expire if the authorized use ceases for any reason for more
than one (1) year.
9. The City Administrator and/or his/her designee shall have the right to inspect the
premises for compliance and safety purposes annually or at any time upon reasonable
request.
10. St. Joseph Code of Ordinances 520.50 Subd. 11 provides property owners in a B2
Highway Commercial Business Zoning district to seek an Interim Use Permit to allow a
residential rental unit until the property is ready for transition to a Commercial use. Said
provisions allow the Planning Commission and City Council to place a termination date
on the Interim Use Permit and require an annual review.
Whereupon said resolution was declared duly passed and adopted by the St. Joseph City Council
this 19th day of May, 2025
CITY OF ST. JOSEPH
By
ATTEST Adam Scepaniak, Mayor
By
David Murphy, City Administrator
CITY SEAL
Document drafted by: City of St. Joseph, MN 56374
STAFF MEMO
Prepared by:
Lori Bartlett, Finance Director
Meeting Date:
5-19-25
☒ Consent Agenda Item
☐ Regular Agenda Item
Agenda Item #
4i
Reviewed by:
Item:
4th Quarter 2024 Gambling Reports
ACTION REQUESTED
Consider acceptance of the 4th quarter 2024 gambling reports.
BOARD/COMMISSION/COMMITTEE RECOMMENDATION
None
PREVIOUS COUNCIL ACTION
Gambling Premise permits were approved for the St. Joseph Lion’s, St. Joseph Jaycees, Babe Ruth
Baseball, Veterans Support Brigade, American Legion Post #328, Granite City Lumberjacks and St. Joseph
Booster Club. The Babe Ruth Baseball and St. Joseph Booster Club did not begin their pull tabs in 2024.
REFERENCE AND BACKGROUND
Per City Ordinance No. 62 each organization conducting lawful gambling within the City of St.
Joseph is required to submit copies of their monthly state tax returns to City Hall on a quarterly
and annual basis. Per review of the tax returns the organizations are sufficiently supporting the
local community with their gambling proceeds. Examples of how the organizations are giving
back to the community include the following items:
Grizzly Hockey Kennedy Community School ISD 748 Community Education
Jaycees Easter Party City of St. Joseph St. Joseph Dollars for Scholars
Babe Ruth Baseball All Saints Academy St. Joseph Church
Stearns County 4H Local Memorials St. Cloud Lacrosse
Veteran’s Honor Guard St. Cloud VA River Lakes Hockey
Albany High School Sno Joes Joe Boy’s Poker Run
Rocori Youth Lacrosse St. Cloud Area Senior Fun Singers Local College Scholarships
Becky’s Troop Care Package Tri-School Donation St. John’s Prep School
Local Medical Benefits Local Fireworks Apollo Booster Clubs
JO Volleyball Art in the Park Sartell Archery
Crush Hockey Rocori Lacrosse Rocori Robotics
Legion Early Bird Dinner Boy Scouts/Girl Scouts 4H Explorers
ISD 47 Sauk Rapids/Rice Resurrection Church Granite City Lumberjacks
Required St. Joseph Community
Organization Net Profits Donation Donations % Donated
American Legion Post 328 $122,899 $12,290 $25,543 21%
St. Joseph Lion's $224,906 $22,491 $64,193 29%
St. Joseph Jaycees $90,280 $9,028 $13,901 15%
Granite City Lumberjacks $213,637 $21,364 $442,500 207%
Veterans Support Brigade $48,557 $4,886 $7,500 15%
BUDGET IMPACT
Information only
STAFF RECOMMENDED ACTION
Accept the 4th quarter 2024 gambling reports.
SUPPORTING DATA/ATTACHMENTS
none
STAFF MEMO
Prepared by:
Ryan Wensmann
Meeting Date:
19 MAY2025
☒ Consent Agenda Item
☐ Regular Agenda Item
Agenda Item #
4j
Reviewed by:
David Murphy
Item:
Millstream Softball Fence
ACTION REQUESTED
Motion to approve the consent agenda will automatically approve this item. If pulled, then the
following motion would be requested.
Motion to approve the quote for new fence on the east field in Millstream Park to Authority
Fence & Deck for the amount of $31,000.00.
BOARD/COMMISSION/COMMITTEE RECOMMENDATION
Park board recommends approving this project and funding with the money that had been set
aside for this project
PREVIOUS COUNCIL ACTION
Council set aside $25,000 in the budget for this project in 2025.
REFERENCE AND BACKGROUND
Rhonda has done an exceptional job revitalizing the youth programs within the community to
include boys T-ball/Baseball and girls’ softball at the Millstream softball park. Millstream has
been a long-time topic for the park board and council on what the future looks for this park. It
was recommended by both boards that we look into fixing up the east field and get it back to
standards for the success of the youth programs.
BUDGET IMPACT
Utilize $25,000.00 from money that was set aside for the project and the remaining $6000.00
will come out of the undesignated park board funds.
STAFF RECOMMENDED ACTION
Motion to approve the consent agenda will automatically approve this item. If pulled, then the
following motion would be requested.
Motion to approve the quote for new fence on the east field in Millstream Park to Authority
Fence & Deck for the amount of $31,000.00.
SUPPORTING DATA/ATTACHMENTS
Authority Fence and Deck
Bemboom Fence Inc
Ce
STAFF MEMO
Prepared by:
Ryan Wensmann
Meeting Date:
19MAY2025
☒Consent Agenda Item
☐Regular Agenda Item
Agenda Item #
4k
Reviewed by: David Murphy Item: 2025 Street Maintenance
ACTION REQUESTED
Motion to approve the consent agenda will automatically approve this item. If pulled, then the
following motion would be requested.
Motion to approve the bid for crack seal and seal coat from Astech for the total amount of
$91,239.02
BOARD/COMMISSION/COMMITTEE RECOMMENDATION
None
PREVIOUS COUNCIL ACTION
None
REFERENCE AND BACKGROUND
Every year the city conducts street maintenance per our approved 2019 maintenance plan. I have
requested price quotes from three contractors for crack sealing and seal coat and have only
received bids back from Astech. We normally like to see more than one bids for these types of
projects. I have reached out to other cities and the pricing from Astech is a far and competitive
price. my recommend is to approve the competitive bid from Astech.
BUDGET IMPACT
This is a budgeted item, $91,239.02.
STAFF RECOMMENDED ACTION
Motion to approve the consent agenda will automatically approve this item. If pulled, then the
following motion would be requested.
Motion to approve the bid for crack seal and seal coat from Astech for the amount of $91,239.02
SUPPORTING DATA/ATTACHMENTS
Astech bid
STAFF MEMO
Prepared by:
City Clerk
Meeting Date:
5/19/2025
☐Consent Agenda Item☒Regular Agenda Item
Agenda Item #
5
Reviewed by: Item:
Continuation of Public Hearing for Elm Street East Assessments
ACTION REQUESTED
•Reopen public hearing on proposed street assessments
•Motion to approve Resolution 2025-032 Adopting Final Assessments
BOARD/COMMISSION/COMMITTEE RECOMMENDATION
None
PREVIOUS COUNCIL ACTION
Council opened the special assessment public hearing on April 21, 2025. Due to some notification issues,
the hearing was tabled to May 19th.
REFERENCE AND BACKGROUND
Randy Sabart, City Engineer, will be present to answer questions on assessment costs and how they were
calculated. Property owners who object to the assessment must do so in writing before the close of the
assessment hearing on May 19th. If a written objection is filed, it is up to the property owner to perfect
the objection by filing an appeal with the district court within 30 days from the date of adoption of the
assessment roll. The appeal process is described under Minnesota Statute §429.081. During the public
hearing, property owners will have an opportunity to ask questions regarding the project and proposed
assessments.
Property owners received notification of the proposed final assessment and an estimated amortization
schedule for their assessment payments. A public hearing notice was also published in the St. Cloud
Times. The notification included a proposed ten-year payment term at 5% interest rate. Per the city’s
assessment policy, the assessment terms are typically ten-year for an overlay project and ten-twenty
years for new construction. Interest rates are typically 1-2% above the project bond rates. City council
sets the final terms with the adoption of the assessment rolls.
After the close of the assessment hearing, council may adopt the assessment rolls. The assessments
cannot be higher than the hearing notifications. The proposed term is ten-year payments at 5% interest
rate. Council sets the final terms with the adoption of the rolls (see enclosed Resolution 2025-032). Once
assessment rolls are adopted, property owners will have 30 days to prepay all or any part of their
assessment interest free. After the 30 days, interest will begin to accrue at the stated rate. Staff will
certify any unpaid balances to Stearns County. Once the assessments are certified to Stearns County,
property owners can prepay the principal balance plus accrued interest at any time, but the payoff must
include the total remaining balance; partial payments are no longer allowed at that time. Balances not
paid will be due over the ten-year period with the property taxes. The first payment will be due in 2026.
An updated objection letter was received from Dollar General, 604 Elm St E.
Administrator&Finance Director
BUDGET IMPACT
$1,299,766
STAFF RECOMMENDED ACTION
• Conduct public hearing on proposed street assessments
• Motion to approve Resolution 2025-032 Adopting Final Assessments
SUPPORTING DATA/ATTACHMENTS
Resolution 2025-032 Adopting Final Assessments
Final Assessment Roll
Objection Letter from Dollar General
RESOLUTION 2025-032
ADOPTING FINAL ASSESSMENT
2024 Elm Street Improvements
WHEREAS, pursuant to proper notice duly given as required by law, the council has met and heard and
passed upon all objections to the proposed assessment for the 2024 Elm Street Improvements which affect
the following areas: street resurfacing, urban street construction, drainage and stormwater management,
lighting, and turf establishment improvements on Elm Streets and 8th Ave NE between Northland Dr,
County Road 133, and County State Aid Highway 75 (hereinafter called the “Project”).
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF ST. JOSEPH, MINNESOTA:
1.Such proposed assessment, a copy of which is attached hereto and made a part hereof, is hereby
accepted and shall constitute the special assessment against the lands named therein, and each tract
of land therein included is hereby found to be benefited by the proposed improvement in the amount
of the assessment levied against it.
2.Such assessment shall be payable in equal annual installments extending over a period of 10 years,
the first of the installments to be payable on or before the first Monday in January 2026, and shall
bear an interest rate of 5.0 percent per annum from the date of the adoption of this assessment
resolution. To the first installment shall be added interest on the entire assessment amount from
the date of this resolution until December 31, 2025. To each subsequent installment when due shall
be added interest for one year on all unpaid installments.
3.The owner of any property so assessed may, at any time prior to certification of the assessment to
the county auditor, pay the whole of the assessment on such property, with interest accrued to the
date of payment, to the city treasurer, except that no interest shall be charged if the entire assessment
is paid within 30 days from the adoption of this resolution; and the property owner may at any time
thereafter, pay to the city treasurer the entire amount of the assessment remaining unpaid, with
interest accrued to December 31 of the year in which such payment is made. Such payment must
be made before November 15 or interest will be charged through December 31 of the succeeding
year.
4.The clerk shall forthwith transmit a certified duplicate of this assessment to the county auditor to
be extended on the property tax lists of the county. Such assessments shall be collected and paid
over in the same manner as other municipal taxes.
Adopted by the council this 19th day of May, 2025.
CITY OF ST JOSEPH
Adam Scepaniak, Mayor
ATTEST
David Murphy, City Administrator
FINAL SPECIAL ASSESSMENT ROLL 3/31/2025
2024 ELM STREET IMPROVEMENTS OVERLAY (60%)$23.16 /LF
ELM STREET MILL & PAVE (60%)$39.15 /LF
LINE NO.PARCEL ID NO.PROPERTY DESCRIPTION
PROPERTY
ADDRESS MAILING ADDRESS OWNER OF RECORD
LONG
SIDE
SHORT
SIDE
LONG
SIDE
SHORT
SIDE
ASSESSED
FOOTAGE
LONG
SIDE
SHORT
SIDE
ASSESSED
FOOTAGE OVERLAY MILL & PAVE
1 84.53546.0004
Lot 001 Block 002 of INDIAN HILL PARK
W 150' OF LOT 1 601 ELM ST E
PO BOX 880
SAINT JOSEPH MN 56374
MN ASSOCIATION FARM
MUTUAL INS 45,632 150.00 150.00 150.00 $5,872.50 $5,872.50 $5,872.50
2 84.53546.0002
Lot 001 Block 002 of INDIAN HILL PARK
LESS W 150'701 ELM ST E
2415 VENTURA DR # 100
WOODBURY MN 55125 701 ELM ST PROPERTIES LLC 122,189 660.43 520.00 520.00 $20,358.00 $20,358.00 $20,358.00
3 84.53360.0010
10-124-29 5.16A P/O E2NE4 BEG SW COR NE4NE4-NE
ALG W LN 331.58'-S39D E 889.36'-S50D W 66.87'-
348.13' SWLY, WLY & NWLY ALG CURVE-N54D W
72.91'-127.97' NWLY ALG CURVE-N39D W 36.44' TO W N/A
PO BOX 425 SARTELL MN
56377
PEGANNE K BJORKLUND REV
TRUST 148,135 639.84 327.00 327.00 $7,573.32 $7,573.32 $7,573.32
4 84.53360.0008
ALG W LN 331.58'-S39D E 889.36' TO POB-S50D W
66.87'-348.13' SWLY, WLY & NWLY ALG CURVE -N54D
W 72.91'-127.97' NWLY ALG CURVE-S39D E 380.92' TO
CL 8TH AVE NE-N50D E ALG CL 400'-N39D W 33' TO N/A
75 CALLAWAY ST E SAINT
JOSEPH MN 56374 CITY OF ST JOSEPH 10,702 272.27 73.00 73.00 $1,690.68 $1,690.68 $85.38 $1,605.30
5 84.53360.0002
3.85 A. PART OF E2NE4 DAF BEG 331.58' N OF SW
COR OF NE4NE4 - E 260.20' - S 39D E 755.93' TO CR
133 - SW ON CR 200' - N 39D W 922.36' TO POB 545 8TH AVE N
16927 FISHER RD
COLD SPRING MN 56320 OPHEIM DONALD J 85,536 200.00 200.00 200.00 $4,632.00 $4,632.00 $4,632.00
6 84.53300.0268
NW4NW4 SEC 11 LYING NWLY OF HWY ROW PLAT#
13, LYING SWLY OF FDL:COM NE COR SEC 10-N89D
W ALG N LN 446.66' TO POB-SW 332.70'-S41D E
828.04' TO NWLY LN WHY ROW PLAT# 13 & TERM &
LYING NLY,NELY & NWLY OF FDL:COM SW COR
NE4NE4 SEC 10-NE ALG W LN 331.58' TO POB-S89D E N/A
412 EAGLE RIDGE CT
SAINT JOSEPH MN 56374
PARSONS RYAN P
163,358 183.95 185.44 185.44 $4,294.79 $4,294.79 $4,294.79
7 84.53470.0247
Lot 001 Block 005 of BUETTNER BUSINESS PARK
P/O LOT 1 BLOCK 5 LYING WLY OF FDL:COM SE COR
LOT 1-S89D W ALG S LN 309.14' TO POB-NW 225' TO
N LN & TERM 1111 ELM ST E
1111 ELM ST E
SAINT JOSEPH MN 56374 LOGHOUSE PROPERTIES LLC 36,345 225.00 177.00 177.00 $4,099.32 $4,099.32 $4,099.32
8 84.53470.0249
P/O LOT 1 BLOCK 5 LYING ELY OF FDL:COM SE COR
LOT 1-S89D W ALG S LN 309.14' TO POB-NW225' TO N
LN & TERM BUETTNER BUSINESS PARK SECTION 10
TOWNSHIP 124 RANGE 029 ELM STREET E
PO BOX 7006 SAINT CLOUD
MN 56302
GARRY R HAWKINS REV
TRUST 70,111 309.00 154.50 154.50 $3,578.22 $3,578.22 $3,578.22
9 84.53798.0574
Lot 002 Block 001 of ST JOSEPH PROFESSIONAL
PLAT
Lot 003 Block 001 of ST JOSEPH PROFESSIONAL PLAT
LOTS 2 & 3 BLOCK 1 1140 ELM ST E
1140 ELM ST E SAINT JOSEPH
MN 56374
JOE SPACE II LLC LIMITED
LIABILITY COMPANY 88,976 227.94 206.00 206.00 $4,770.96 $4,770.96 $4,770.96
10 84.53360.0004
5.20 A. OF SE4NE4 LYING N'LY OF ROW & S'LY OF CL
OF CO RD 133 & E'LY OF READY MIX PROP N/A
PO Box 250
Saint Joseph MN 56374 Wg Properties 181,366 400.89 369.00 369.00 $8,546.04 $8,546.04 $8,546.04
11 84.53360.0003
2.45 A. BEG AT INTSEC OF W L OF SE4NE4 & N RR
ROW - E 170.6 3' TO CL & BEG - LEFT 536.59' - RIGHT N/A
PO Box 250
Saint Joseph MN 56374 Wg Properties 85,801 536.50 268.00 268.00 $6,206.88 $6,206.88 $6,206.88
12 84.53360.0005
1.62 A. BEG 287' S OF NW COR OF SE4NE4 - S 420' -
S84D E ON RR 181' TO CL - NE ON CL 145' - N39D W N/A
111 RED RIVER AVE S
COLD SPRING MN 56320
THE FOUR VETS
PARTNERSHIP 59,507 450.36 421.11 200.00 200.00 $4,632.00 $4,632.00 $4,632.00
13 84.53546.0005
Lot 002 Block 002 of INDIAN HILL PARK
E 184.27' LOT 2 BLK 2 708 ELM ST E
3111 20TH ST S
SAINT CLOUD MN 56301 NORTHLAND PLAZA LLLP 43,455 184.64 184.00 184.00 $7,203.60 $7,203.60 $7,203.60
14 84.53546.0006
Lot 002 Block 002 of INDIAN HILL PARK
P/O LOT 2 BLK 2 LYING W OF E 184.27' & LYING E OF 622 ELM ST E
1340 CORPORATE CENTER
CURV
INTERSTATE BEARING ST
JOSEPH LLC 94,204 366.34 324.00 324.00 $12,684.60 $12,684.60 $12,684.60
15 84.53798.0570
Lot 001 Block 001 of ST JOSEPH PROFESSIONAL PLAT
P/O LOT 1 BLK 1 LYING NLY OF FDL:COM NE COR-SE 1160 ELM ST E
PO BOX 9167
SPRINGFIELD MO 65801
O'REILLY AUTO
ENTERPRISES LLC 33,372 245.94 194.00 194.00 $4,493.04 $4,493.04 $4,493.04
16 84.53798.0573
Lot 001 Block 001 of ST JOSEPH PROFESSIONAL PLAT
P/O LOT 1 BLK 1 LYING SLY OF FDL:COM NE COR-SE 1180 ELM ST E
333 Washington Ave N # 419
MINNEAPOLIS MN 55401
STONEHOUSE SQUARE
ASSOCIATES LLLP 47,592 182.00 182.00 182.00 $4,215.12 $4,215.12 $4,215.12
17 84.53546.0008
Lot 002 Block 002 of INDIAN HILL PARK
W 261' OF LOT 2 BLK 2 604 ELM ST E
153 LAKESHORE CIR
WACONIA MN 55387 DOLLAR PROPERTIES LLC 71,381 261.06 261.00 261.00 $10,218.15 $10,218.15 $10,218.15
F:\CITY\shared\2024 Street Improvements\Elm Street\[FAW Elm Street as of 04.28.25.xlsx]Elm Street TOTALS 1387662.00 1520.86 4396.41 331.50 2204.44 2535.94 1439.00 1439.00 $58,732.37 $56,336.85 $115,069.22 $85.38 $114,983.84
ADJUSTED
PARCEL AREA
(SQ FT)
PLATTED ADBUTTING
FOOTAGE
MILL AND PAVE
ADJUSTED FOOTAGE
TOTAL
ASSESSMENT
OVERLAY
ADJUSTED FOOTAGE
SUBTOTAL
ASSESSMENT
CITY
SUBSIDY
Page 1
STAFF MEMO
Prepared by:
Lori Bartlett, Finance Director
Meeting Date:
5-19-25
☐ Consent Agenda Item
☒ Regular Agenda Item
Agenda Item #
6
Reviewed by:
David Murphy, Administrator
Item:
2024 Audited Financial Statements
ACTION REQUESTED
Consider acceptance of the 2024 audited financial statements.
BOARD/COMMISSION/COMMITTEE RECOMMENDATION
None
PREVIOUS COUNCIL ACTION
Council hired Creative Planning (formally known as BerganKDV) to perform a financial audit of the
city’s 2024 financial statements. This is the second year of the three-year engagement contract.
REFERENCE AND BACKGROUND
Annually MN State Statute and the MN Office of the State Auditor requires the City to have an
independent financial audit completed. The audit consists of reviewing internal controls, policies,
adherence to GASB, test compliance of MN Statutes and compliance with federal grants. Creative
Planning began audit work in the end of 2024 through May 2025 for the 2024 audited financial
statements.
The Partner, Janel Bitzan, Manager, Aaron Dahl, and Senior, Victoria De Ferraris, met with David and
Lori to report their findings on May 5th. Janel will be present at the council meeting to report their
findings to the city council, staff and public. The only finding they reported is a lack of segregation of
accounting duties as in past years. Due to costs to hire enough employees to eliminate this finding,
council and staff have agreed to monitor policies and internal controls to mitigate misstatements and
misappropriation of city funds.
The audited financial statements can be cumbersome to read. Although the entire report is important
for the users of the statements, the Management Discussion and Analysis (MD&A) on pages 7-23
provides a nice overview of the financial highlights for 2024 and the economic factors that will affect
the upcoming years. City staff prepared the MD&A analysis. The report included with the financial
statements titled “Communications Letter” is an analysis of the financial conditions of the City and was
prepared by Creative Planning.
BUDGET IMPACT
Informational only
STAFF RECOMMENDED ACTION
Accept the 2024 audited financial statements.
SUPPORTING DATA/ATTACHMENTS
2024 Audited Financial Statements
2024 Communications Letter
City of St. Joseph
Stearns County, Minnesota
Basic Financial Statements
December 31, 2024
City of St. Joseph
Table of Contents
Elected Officials and Administration 1
Independent Auditor's Report 3
Management's Discussion and Analysis 7
Basic Financial Statements
Government-Wide Financial Statements
Statement of Net Position 26
Statement of Activities 29
Fund Financial Statements
Balance Sheet – Governmental Funds 30
Reconciliation of the Balance Sheet to the Statement of Net Position
– Governmental Funds 31
Statement of Revenues, Expenditures, and Changes in Fund Balances
– Governmental Funds 32
Reconciliation of the Statement of Revenues, Expenditures, and Changes
in Fund Balances to the Statement of Activities – Governmental Funds 34
Statement of Revenues, Expenditures, and Changes in Fund Balance
– Budget and Actual – General Fund 35
Statement of Net Positions – Proprietary Funds 36
Reconciliation of the Statement of Net Positions – Business-Type Activities 37
Statement of Revenues, Expenses, and Changes in Fund Net Position
– Proprietary Funds 38
Reconciliation of the Statement of Revenues, Expenses, and Changes in
Fund Net Position – Business-Type Activities 41
Statement of Cash Flows – Proprietary Funds 42
Notes to Basic Financial Statements 45
Required Supplementary Information
Schedule of City's Proportionate Share of Net Pension Liability
- General Employees Retirement Fund 86
Schedule of City's Proportionate Share of Net Pension Liability
- Public Employees Police and Fire Retirement Fund 86
Schedule of City Contributions - General Employees Retirement Fund 87
Schedule of City Contributions - Public Employees Police and Fire
Retirement Fund 87
Schedule of Changes in the Net Pension Liability and Related Ratios
– Fire Relief Association 88
Schedule of City Contributions and Non -Employer Contributing Entities
– Fire Relief Association 90
Notes to Required Supplementary Information 92
Supplementary Information
Schedule of Revenues, Expenditures, and Changes in Fund Balance
– Budget and Actual – General Fund 102
Combining Balance Sheet – Nonmajor Governmental Funds 104
Combining Statement of Revenues, Expenditures, and Changes in Fund
Balances - Nonmajor Governmental Funds 112
City of St. Joseph
Table of Contents
Report on Internal Control over Financial Reporting and on Compliance
and Other Matters Based on an Audit of Financial Statements Performed
in Accordance with Government Auditing Standards 121
Minnesota Legal Compliance 123
Schedule of Finding and Response on Internal Control 124
1
City of St. Joseph
Elected Officials and Administration
December 31, 2024
Elected Officials Position Term Expires
Rick Schultz Mayor January 2025
Robert Loso Council Member January 2025
Kelly Beniek Council Member January 2025
Adam Scepaniak Council Member January 2027
Kevin Kluesner Council Member January 2027
Administration
David Murphy City Administrator Appointed
Lori Bartlett Finance Director Appointed
2
3
Independent Auditor's Report
Honorable Mayor and Members
of the City Council
City of St. Joseph
St. Joseph, Minnesota
Report on the Audit of the Financial Statements
Opinions
We have audited the financial statements of the governmental activities, the business -type
activities, each major fund, and the aggregate remaining fund information of City of St. Joseph, as of
and for the year ended December 31, 2024, and the related notes to the financial statements, which
collectively comprise City of St. Joseph's basic financial statements as listed in the Table of
Contents.
In our opinion, the accompanying financial statements present fairly, in all material respects, the
respective financial position of the governmental activities, the business -type activities, each major
fund, and the aggregate remaining fund information of City of St. Joseph, as of December 31, 2024,
and the respective changes in financial position and, where applicable, cash flows thereof and the
budgetary comparison for the General Fund for the year then ended in accordance with accounting
principles generally accepted in the United States of America.
Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United
States of America (GAAS) and the standards applicable to financial audits contained in Government
Auditing Standards, issued by the Comptroller General of the United States. Our responsibilities
under those standards are further described in the Auditor 's Responsibilities for the Audit of the
Financial Statements section of our report. We are required to be independent of City of St. Joseph
and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements
relating to our audit. We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our audit opinions.
Emphasis of Matter
The City has adopted new accounting guidance, Governmental Accounting Standards Board (GASB)
Statement No. 101, Compensated Absences . Our opinion is not modified with respect to this matter.
Responsibilities of Management for the Financial Statements
The City of St. Joseph's management is responsible for the preparation and fair presentation of the
financial statements in accordance with accounting principles generally accepted in the United
States of America, and for the design, implementation, and maintenance of internal control relevant
to the preparation and fair presentation of financial statements that are free from material
misstatement, whether due to fraud or error.
In preparing the financial statements, management is required to evaluate whether there are
conditions or events, considered in the aggregate, that raise substantial doubt about the
City of St. Joseph's ability to continue as a going concern for twelve months beyond the financial
statement date, including any currently known information that may raise substantial doubt shortly
thereafter.
4
Auditor's Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole
are free from material misstatement, whether due to fraud or error, and to issue an auditor 's report
that includes our opinions. Reasonable assurance is a high level of assurance but is not absolute
assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS and
Government Auditing Standards will always detect a material misstatement when it exists. The risk
of not detecting a material misstatement resulting from fraud is higher than for one resulting from
error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the
override of internal control. Misstatements are considered material if there is a substantial likelihood
that, individually or in the aggregate, they would influence the judgment made by a reasonable user
based on the financial statements.
In performing an audit in accordance with GAAS and Government Auditing Standards, we:
• Exercise professional judgment and maintain professional skepticism throughout the audit.
• Identify and assess the risks of material misstatement of the financial statements, whether
due to fraud or error, and design and perform audit procedures responsive to those risks. Such
procedures include examining, on a test basis, evidence regarding the amounts and
disclosures in the financial statements.
• Obtain an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances, but not for the purpose of expressing
an opinion on the effectiveness of City of St. Joseph's internal control. Accordingly, no such
opinion is expressed.
• Evaluate the appropriateness of accounting policies used and the reasonableness of significant
accounting estimates made by management, as well as evaluate the overall presentation of
the financial statements.
• Conclude whether, in our judgment, there are conditions or events, considered in the
aggregate, that raise substantial doubt about City of St. Joseph's ability to continue as a going
concern for a reasonable period of time.
We are required to communicate with those charged with governance regarding, among other
matters, the planned scope and timing of the audit, significant audit findings, and certain internal
control–related matters that we identified during the audit.
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the
Management's Discussion and Analysis, which follows this report letter, and Required Supplementary
Information as listed in the Table of Contents be presented to supplement the basic financial
statements. Such information is the responsibility of management and, although not a part of the
basic financial statements, is required by GASB who consi ders it to be an essential part of financial
reporting for placing the basic financial statements in an appropriate operational, economic, or
historical context. We have applied certain limited procedures to the Required Supplementary
Information in accordance with auditing standards generally accepted in the United States of
America, which consisted of inquiries of management about the methods of preparing the
information and comparing the information for co nsistency with management's responses to our
inquiries, the basic financial statements, and other knowledge we obtained during our audit of the
basic financial statements. We do not express an opinion or provide any assurance on the information
because the limited procedures do not provide us with su fficient evidence to express an opinion or
provide any assurance.
5
Supplementary Information
Our audit was conducted for the purpose of forming opinions on the financial statements that
collectively comprise the City of St. Joseph's basic financial statements. The accompanying
supplementary information identified in the Table of Contents is presented for purposes of additional
analysis and is not a required part of the basic financial statements.
Such information is the responsibility of management and was derived from and relates directly to
the underlying accounting and other records used to prepare the basic financial statements. The
information has been subjected to the auditing procedures applied in the audit of the basic financial
statements and certain additional procedures, including comparing and reconciling such information
directly to the underlying accounting and other records used to prepare the basic financial
statements or to the basic financial statements themselves, and other additional procedures in
accordance with auditing standards generally accepted in the United States of America. In our
opinion, the accompanying supplementary information is fairly stated, in all material respects, in
relation to the basic financial statements as a whole.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated May 5,
2025, on our consideration of the City of St. Joseph's internal control over financial reporting and on
our tests of its compliance with certain provisions of laws, regulations, contracts and grant
agreements, and other matters. The purpose of that report is solely to describe the scope of our
testing of internal control over financial reporting and compliance and the results of that testing,
and not to provide an opinion on the effectiveness of internal control over financial reporting or on
compliance. That report is an integral part of an audit performed in accordance with Government
Auditing Standards in considering the City of St. Joseph's internal control over financial reporting and
compliance.
St. Cloud, Minnesota
May 5, 2025
6
City of St. Joseph
Management's Discussion and Analysis
7
As management of the City of St. Joseph, we offer readers of the City of St. Joseph's financial
statements this narrative overview and analysis of the financial activities of the City of St. Joseph for
the fiscal year ended December 31, 2024.
FINANCIAL HIGHLIGHTS
Key financial highlights for 2024 include the following:
•The assets and deferred outflows of resources of the City of St. Joseph exceeded its liabilities
and deferred inflows of resources at the close of the most recent fiscal year by $53,277,355.
Of this amount, $9,964,017 may be used to meet government's ongoing obligations to citizens
and creditors (unrestricted net position).
•The City of St. Joseph's total net position increased by $3,904,546 from 2023 to 2024. The
individual funds with the largest increase in net position include the sewer and the state
collected sales tax funds, resulting in over 41% of the increase in net position. The sewer fund
realized a gain on sale of sewer treatment rights to the City of Foley in the amount of
$806,873; 20% of the change in net position of the city's funds.
•As of the close of the current fiscal year, the City of St. Joseph's governmental funds reported
combined ending fund balances of $20,420,970, an increase of $1,213,177. Of this amount
$3,137,886 is unassigned for spending at the City's discretion. The remaining balance of
$17,283,084 is set aside for specific future expenditures. The largest contributors for the
increase in fund balance include the general fund, 2019A G.O. industrial park bonds and the
state collected sales tax fund. The general fund contains budgeted reserves included in the 5-
year capital planning. The industrial park bonds collected prepaid assessments of $565,418.
The state collected sales tax fund also resulted in an increase in fund balance by $247,571
with half cent sales tax collections of $656,612 (more than any other year). The last two
funds are included in the combined Other Governmental Funds.
•At the end of the current fiscal year, the unassigned fund balance for the general fund was
$3,138,840, or 57% of the total 2025 general fund expenditure budget. The city's goal is 4-6
months of the following year expenditure budget; 2024 ended at 6.6 months working capital.
•The City of St. Joseph's total long-term bonded debt decreased by $2,324,180 during the
current fiscal year. The City had one debt paid in full, one debt reduced due to selling sewer
treatment rights to the City of Foley, and issued two new debt for two projects including the
2024 street improvements and the City's portion of the St. Cloud metro force main
replacement project.
OVERVIEW OF THE FINANCIAL STATEMENTS
This discussion and analysis are intended to serve as an introduction to the City of St. Joseph's basic
financial statements. The City of St. Joseph's basic financial statements are comprised of three
components: 1) government-wide financial statements, 2) fund financial statements and 3) notes to
the financial statements. This report also contains other supplementary information in addition to
the basic financial statements themselves.
Government-Wide Financial Statements
The government-wide financial statements are designed to provide readers with a broader overview
of the City of St. Joseph's finances, in a manner similar to a private-sector business.
City of St. Joseph
Management's Discussion and Analysis
8
OVERVIEW OF THE FINANCIAL STATEMENTS (CONTINUED)
Government-Wide Financial Statements (Continued)
The Statement of Net Position presents information on all of the City of St. Joseph's assets and
deferred outflows of resources and liabilities, and deferred inflows of resources with the difference
between the four reported as net position. Over time, increases or decreases in net position may
serve as a useful indicator of whether the financial position of the City of St. Joseph is improving or
deteriorating.
The Statement of Activities presents information showing how the City's net position changed during
the most recent fiscal year. All changes in net position are reported as soon as the underlying event
giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and
expenses are reported in this statement for some items that will only result in cash flows in future
fiscal periods (e.g., uncollected taxes and earned but unused vacation leave).
Both the government-wide financial statements distinguish functions of the City of St. Joseph that
are principally supported by taxes and intergovernmental revenues (governmental activities) from
other functions that are intended to recover all or a significant portion of their costs through user
fees and charges (business-type activities). The governmental activities of the City of St. Joseph
include general government, public safety, public works, economic development, culture and
recreation, and interest on long-term debt. The business-type activities of the City of St. Joseph
include water, sanitary sewer, refuse, storm water and street light utility services.
The government-wide financial statements include not only the City of St. Joseph itself (known as
the primary government), but also a legally separate Economic Development Authority. Financial
information for this component unit is blended in the financial information.
The government-wide financial statements can be found on pages 26-29 of this report.
Fund Financial Statements
A fund is a grouping of related accounts that is used to maintain control over resources that have
been segregated for specific activities or objectives. The City of St. Joseph, like other state and local
governments, utilize fund accounting to ensure and demonstrate compliance with finance-related
legal requirements. All of the funds of the City of St. Joseph can be divided into one of the following
two categories: governmental funds and proprietary funds.
Governmental Funds
Governmental funds are used to account for essentially the same functions reported as governmental
activities in the government-wide financial statements. However, unlike the government-wide
financial statements, governmental fund financial statements focus on near-term inflows and
outflows of spendable resources, as well as on balances of spendable resources available at the end
of the fiscal year. Such information may be useful in evaluating a government's near-term financing
requirements.
City of St. Joseph
Management's Discussion and Analysis
9
OVERVIEW OF THE FINANCIAL STATEMENTS (CONTINUED)
Governmental Funds(Continued)
Because the focus of governmental funds is narrower than that of the government-wide financial
statements, it is useful to compare the information presented for governmental funds with similar
information presented for governmental activities in the government-wide financial statements. By
doing so readers may better understand the long-term impact of the government's near-term
financing decisions. Both the governmental fund balance sheet and the governmental fund statement
of revenues, expenditures, and changes in fund balances provide a reconciliation to facilitate this
comparison between governmental funds and government-wide governmental activities.
The City of St. Joseph maintains thirty-five individual governmental funds. Information is presented
separately in the governmental fund balance sheet and in the governmental fund statement of
revenues, expenditures and changes in fund balances for the general fund, G.O. improvement bonds
of 2016B fund, and St. Joseph Community Center/YMCA project fund which are major funds. Data
from the other governmental funds are combined into a single, aggregated presentation. Individual
fund data for each of these non-major governmental funds is provided in the form of combining
statements elsewhere in this report.
The City of St. Joseph adopts an annual appropriated budget for its general fund. A budgetary
comparison statement has been provided for this fund on page 35 to demonstrate compliance with
the budget.
The basic governmental fund financial statements can be found on pages 30-35 of this report.
Proprietary Funds
The City of St. Joseph maintains proprietary funds that are used to report the same functions
presented as business-type activities in the government-wide financial statements. The City of St.
Joseph uses proprietary funds to account for its water, sanitary sewer, refuse, storm water and
street light utility activities.
Proprietary funds provide the same type of information as the government-wide financial
statements, only in more detail. The proprietary fund financial statements provide separate
information for the water, sanitary sewer, refuse, storm water and street light utility, all of which
are considered to be major funds of the City of St. Joseph. The basic proprietary fund financial
statements can be found on pages 36-43 of this report.
Notes to the Financial Statements
The notes provide additional information that is essential to a full understanding of the data
provided in the government-wide and fund financial statements. The notes to the financial
statements can be found on pages 45-83 of this report.
Other Information
The required supplementary information (pages 86-100) and supplemental information including the
combined statements referred to earlier in connection with non-major governmental funds can be
found on pages 104-119 of this report.
Comparative Data
While comparative data is not illustrated in this report, comments throughout this narrative and
overview will discuss significant changes from the prior year.
City of St. Joseph
Management's Discussion and Analysis
10
GOVERNMENT-WIDE FINANCIAL ANALYSIS
As noted earlier, net position may serve over time as a useful indicator of a government's financial
position. In the case of the City of St. Joseph, assets and deferred outflows of resources exceeded
liabilities and deferred inflows of resources by $53,277,355 at the close of the most recent fiscal
year. By far the largest portion of the City of St. Joseph's net position reflects its investment in
capital assets (e.g., land, buildings, machinery, and equipment) net accumulated depreciation, less
any related debt used to acquire those assets that is still outstanding. The City of St. Joseph utilizes
these capital assets to provide services to citizens; consequently, these assets are not available for
future spending. Although, the City of St. Joseph's investment in its capital assets is reported net of
related debt, it should be noted that the resources needed to repay this debt must be provided from
other sources, since the capital assets themselves cannot be used to liquidate these liabilities.
2024 2023 2024 2023 2024 2023
Assets
Current and other assets 23,507,171$ 22,721,633$ 7,012,339$ 6,589,954$ 30,519,510$ 29,311,587$
Capital assets, net 20,228,797 19,782,790 30,954,216 32,842,962 51,183,013 52,625,752
Total assets 43,735,968 42,504,423 37,966,555 39,432,916 81,702,523 81,937,339
Deferred Outflows
of Resources
Deferred outflows of resources
related to pensions 1,853,535 2,145,697 60,909 89,309 1,914,444 2,235,006
Total deferred outflows 1,853,535 2,145,697 60,909 89,309 1,914,444 2,235,006
Liabilities
Current liabilities 2,526,718 2,736,227 1,383,340 3,761,834 3,910,058 6,498,061
Long-term liabilities 20,085,483 21,578,235 3,949,510 4,566,229 24,034,993 26,144,464
Total liabilities 22,612,201 24,314,462 5,332,850 8,328,063 27,945,051 32,642,525
Deferred Inflows
of Resources
Deferred inflows of resources
related to debt 5,550 7,385 11,924 13,737 17,474 21,122
Deferred inflows of resources
related to leases 8,325 10,363 74,922 93,270 83,247 103,633
Deferred inflows of resources
related to pensions 2,187,738 1,947,790 106,102 84,816 2,293,840 2,032,606
Total deferred inflows 2,201,613 1,965,538 192,948 191,823 2,394,561 2,157,361
Net Position
Net investment in
capital assets 9,065,672 8,580,885 26,218,216 26,835,351 32,988,865 32,761,380
Restricted 10,624,473 9,252,237 - - 10,624,473 9,252,237
Unrestricted 1,385,544 536,998 6,283,450 4,166,988 9,964,017 7,358,842
Total net position 21,075,689$ 18,370,120$ 32,501,666$ 31,002,339$ 53,577,355$ 49,372,459$
Net Position
Governmental Activities Business-Type Activities Total
City of St. Joseph
Management's Discussion and Analysis
11
GOVERNMENT-WIDE FINANCIAL ANALYSIS (CONTINUED)
An additional portion of the City of St. Joseph's net position (19%) represents resources that are
subject to external restrictions on how they may be used. The remaining balance of unrestricted net
position is a surplus of $9,964,017, or a surplus of $7,668,994 after removing the unrestricted portion
of governmental debt for enterprise assets. The surplus is largely the result of the increase in cash
and investments from unspent bond proceeds.
At the end of the current fiscal year, the City of St. Joseph is able to report positive balances in all
three categories of net position for the government as a whole, as well as for its separate business-
type and governmental activities.
Governmental Activities
The governmental activities change in net position balance increased $2,405,219. The City's
investment in capital assets, net related debt increased $484,787. Restricted net position increased
$858,299. The unrestricted net position resulted in a net position of $1,385,544, an increase of
$1,062,133 from last year. As a liquidity indicator, the cash and investment position increased 4% in
2024. The main increase is from unspent 2023A and 2024A bond proceeds, donations for the St.
Joseph Community Center/YMCA, prepaid assessments and unspent local option sales tax revenues.
The bonded debt decreased in 2024 by $1,052,569. The City issued a small bond for the 2024 street
improvements, while paying off $1.855 million in current debts. In addition, the 2020B GO refunding
improvement bonds were paid in full in 2024. Also contributing to the positive change in net position,
GASB requires investments to be marked at its current market value in the reporting year. In 2024,
the market adjustment was positive and resulted in positive interest earnings of $907,517 in
governmental activities. Interest earnings is reported as unrestricted net position.
Business-Type Activities
There was a 5% increase in the total net position for the business-type activities. The increase is due
to paying down long-term liabilities by $1,354,831. The City of Foley took over $830,690 of notes
payables from St. Joseph to pay for their purchased share of the sewer treatment. This reduced the
sewer rights asset and resulted in a gain on sale on the Statement of Net Position that increased net
position. In addition, the sewer fund received $1,449,288 in December 2023 from the Foley to
purchase wastewater treatment from St. Joseph that is realized in 2024. The reimbursement will be
used in future years for sewer expansions and minimizing increases in future sewer rates. Also
contributing to the net increase in net position are increases in charges for services utility rates to
cover operational costs plus adding seed money for future capital asset additions and replacements.
As with the governmental activities, interest earnings also had a positive effect on the unrestricted
net position of $237,363.
The graph and charts on the following pages summarize and graphically depict the changes in net
position for the governmental and business-type activities.
City of St. Joseph
Management's Discussion and Analysis
12
GOVERNMENT-WIDE FINANCIAL ANALYSIS (CONTINUED)
Change in Net Position
2024 2023 2024 2023 2024 2023
Revenues
Program Revenues
Charges for services 742,931$ 1,066,895$ 3,795,352$ 3,882,584$ 4,538,283$ 4,949,479$
Operating grants and
contributions 330,788 232,992 7,292 13,347 338,080 246,339
Capital grants and
contributions 1,703,669 1,892,027 212 76,604 1,703,881 1,968,631
General Revenues
Property taxes 4,101,940 3,735,238 4 10 4,101,944 3,735,248
Tax increments 157,342 151,076 - - 157,342 151,076
Sales taxes 656,612 658,268 - - 656,612 658,268
Franchise fees 187,873 140,406 - - 187,873 140,406
Lodging taxes 13,738 14,790 - - 13,738 14,790
Miscellaneous taxes 1,948 1,520 - - 1,948 1,520
State aids 1,545,272 1,245,680 - - 1,545,272 1,245,680
Unrestricted investment earnings 907,517 835,803 237,363 255,767 1,144,880 1,091,570
Gain on disposal of assets 52,804 122,933 806,873 - 859,677 122,933
Total revenues 10,402,434 10,097,628 4,847,096 4,228,312 15,249,530 14,325,940
Expenses
General government 1,473,900 1,422,664 - - 1,473,900 1,422,664
Public safety 2,929,038 3,065,878 - - 2,929,038 3,065,878
Public works 1,932,425 2,037,985 - - 1,932,425 2,037,985
Economic development 318,448 262,480 - - 318,448 262,480
Culture and recreation 773,081 970,849 - - 773,081 970,849
Interest on long-term debt 572,818 538,951 - - 572,818 538,951
Water - - 1,343,333 1,209,855 1,343,333 1,209,855
Sanitary sewer - - 1,206,960 1,191,012 1,206,960 1,191,012
Refuse - - 498,932 407,822 498,932 407,822
Storm water - - 227,632 244,682 227,632 244,682
Street light utility - - 68,417 76,093 68,417 76,093
Total expenses 7,999,710 8,298,807 3,345,274 3,129,464 11,344,984 11,428,271
Increase (decrease) in net position
before transfers 2,402,724 1,798,821 1,501,822 1,098,848 3,904,546 2,897,669
Transfers 2,495 (200,367) (2,495) 200,367 - -
Change in net position 2,405,219 1,598,454 1,499,327 1,299,215 3,904,546 2,897,669
Net Position
Net position - beginning 18,370,470 16,772,016 31,002,339 29,703,124 49,372,809 46,475,140
Prior period adjustment - - - - - -
Net position - beginning restated 18,370,470 16,772,016 31,002,339 29,703,124 49,372,809 46,475,140
Net position - ending 20,775,689$ 18,370,470$ 32,501,666$ 31,002,339$ 53,277,355$ 49,372,809$
Governmental Activities Business-Type Activities Total
City of St. Joseph
Management's Discussion and Analysis
13
0
500,000
1,000,000
1,500,000
2,000,000
2,500,000
3,000,000
General
Government
Public Safety Public Works Economic
Development
Culture and
Recreation
Interest on Long-
Term Debt
Program Revenues and Expenses Governmental Activities
Revenues Expenses
General Government
1%Public Safety
10%
Public Works
8%
Culture and
Recreation
8%
General Revenues
73%
Revenues by Source -Governmental Activities
City of St. Joseph
Management's Discussion and Analysis
14
0
200,000
400,000
600,000
800,000
1,000,000
1,200,000
1,400,000
1,600,000
1,800,000
Water Sanitary Sewer Refuse Storm Water Street Light Utility
Program Revenues and Expenses Business-type Activities
Revenues Expenses
Storm Water
5%Street Light Utility
2%
Refuse
11%
Water
27%
General Revenues
21%
Sanitary Sewer
34%
Revenues by Source -Business-type Activities
City of St. Joseph
Management's Discussion and Analysis
15
FINANCIAL ANALYSIS OF THE CITY'S FUNDS AT THE FUND LEVEL
Governmental Funds
The financial performance of the City of St. Joseph as a whole is reflected in its governmental funds
as well. As the City completed the fiscal year 2024, its governmental funds reported a combined fund
balance of $20,420,970, an increase of $1,213,177 from 2023. Revenues for the City's governmental
funds were $10,628,618, while expenditures were $10,270,205. The excess of revenues over
expenditures of $358,413 is largely attributed to construction costs relating to prepaid special
assessments for improvement bonds funds, significant development charges for services, interest
earnings, and uncommitted local option sales tax revenues. After adding other financing sources and
uses, the net change in fund balance resulted in the increase mainly from 2024A bond proceeds. By
removing the major funds: the general fund, 2016B improvement bonds fund, and the St. Joseph
community center/YMCA construction fund, governmental revenues exceeded expenditures by
$1,018,320. The major funds will be discussed further below. A couple non-major funds to recognize
are the 2019A G.O. industrial park bonds and state collected sales tax fund. The 2019A bonds
received prepaid assessments totaling $565,418 as eight lots sold in the Northland Business Center
industrial park. The cash and investment balance in this fund is significant causing interest earnings
to be higher than anticipated. The bonds can be called early in 2027 and may have the funds to be
initialize an early defeasance. The state collected sales tax fund received $656,612 in local option
sales tax revenues in 2024. The sales tax is used for projects approved by state statute and voted on
by referendum in the community. The revenues are reserved for future projects to be determined by
the city council. Current projects expended with local option sales tax includes the St. Joseph
Community Center/YMCA bonds and the Field Street bonds at an annual cost of $450,000 of local
option sales tax revenues.
A summary of financial highlights for each major governmental fund follows.
General Fund
The general fund is the chief operating fund of the City of St. Joseph. At the end of the current fiscal
year, unassigned fund balance of the general fund was $3,138,840, an increase of $513,109. As a
measure of the general fund's liquidity, it may be useful to compare both unassigned fund balance to
total fund expenditures. Unassigned fund balance represents 62% (7.5 months) working capital and
55% (6.6 months) compared to the budgeted 2025 expenditures. The City Council has adopted a
financial policy which includes a goal to maintain the general fund working capital fund balance
equal to 4-6 months of expenditures. The excess unassigned fund balance can be attributed to
budgeted and unspent 5-year capital budget reserves, budgeting conservatively for interest earnings
and grants, higher than anticipated building and development fees, and transfers to reimburse
capital campaign costs. General fund revenues exceeded budgeted amounts by $481,907. The largest
variance came from intergovernmental revenues, investment income, and licensing and permitting
revenues. State police aid and the remaining realized ARPA grant dollars were the largest drivers in
intergovernmental revenue variances Development and building permit fees, along with interest
revenues are budgeted conservatively. Development was also better than anticipated with seven new
commercial/industrial buildings and nine single-family home permits.
General fund expenditures were over budget by $106,451. The City of St. Joseph established a five-
year capital plan where funds were set aside each year for future purchases. The capital outlay
City of St. Joseph
Management's Discussion and Analysis
16
FINANCIAL ANALYSIS OF THE CITY'S FUNDS AT THE FUND LEVEL (CONTINUED)
General Fund (Continued) expenditures will report over or under budget each year depending upon
when capital equipment is purchased. In 2024 total capital outlay reported over-spent by $18,731. In
2024, the City of St Joseph spent the remaining ARPA grant and 44% of the one-time Minnesota public
safety aid on capital projects.
General government current expenditures reported over budget by $87,720; 2% of the budgeted
expenditures. There was staff turnover in this category in 2024 with a utility worker retiring. A
replacement was promoted, along with a second to fill a new position, from a maintenance worker
staff with two maintenance workers. Shuffling the positions and their time allocation affected the
budget. Also, winter was dryer and warmer than average winter. The city budgets an average year
for snow and ice removal. The result was budget savings of $119,165 in this category but shifted to
other functions. Public safety expenditures reported under budget by $163,782. A full-time police
officer went on unpaid family leave towards the end of the year. The shift hours were left vacant
for a period of time. Health insurance is budgeted as family city contributions, a couple of officers
opt for single coverage. The excess budget is transferred into the retirement reserve account. The
culture and recreation category had the largest amount over budget of $223,905. A large portion of
the excess expenditures includes wage shifts for the two new maintenance workers, time allocation
on parks versus ice and snow removal, and final contract payments to Kinetic for capital campaign
for the community center/YMCA.
As a result of the prudent financial policies of the City, the general fund remained stable.
The schedule below presents a summary of general fund revenues and expenditures.
December 31, December 31,Increase
2024 2023 (Decrease)
Revenues
Taxes and franchise fees 2,756,599$ 2,651,858$ 104,741$ 4%
Special assessment 59,979 31,864 28,115 88%
Licenses and permits 336,464 437,341 (100,877) -23%
Intergovernmental 1,936,261 2,021,446 (85,185) -4%
Charges for services 65,544 66,130 (586) -1%
Fines and forfeitures 55,130 121,477 (66,347) -55%
Miscellaneous 239,050 252,270 (13,220) -5%
Total General fund revenue 5,449,027$ 5,582,386$ (133,359)$ -2%
December 31, December 31,Increase
2024 2023 (Decrease)
Expenditures
General government 1,299,995$ 1,285,126$ 14,869$ 1%
Public safety 2,420,223 2,131,389 288,834 14%
Public works 745,201 882,705 (137,504) -16%
Economic development - - - 100%
Culture and recreation 1,010,983 860,980 150,003 17%
Total General fund expenditures 5,476,402$ 5,160,200$ 316,202$ 6%
Percent
Change
Percent
Change
City of St. Joseph
Management's Discussion and Analysis
17
FINANCIAL ANALYSIS OF THE CITY'S FUNDS AT THE FUND LEVEL (CONTINUED)
General Fund Budgetary Highlights
The general fund budget did not change in 2024. A description of the budget to actual variances
were described on the previous two pages.
• Actual revenues were $481,907 more than budgeted.
• Actual expenditures were $106,451 more than the budget.
• After other financing sources and uses, the general fund budgeted a $489,186 reduction in the
fund balance. The actual results were better than budgeted projections with a $375,456
positive change in fund balance.
Proprietary Funds. The City of St. Joseph's proprietary fund statements provide the same type of
information found in the government-wide financial statements, but in more detail. The unrestricted
net position of the proprietary funds increased $1,528,280 overall. The following five paragraphs
provide a brief financial overview of each major proprietary fund.
Water Enterprise Fund
The water fund is used to account for the operations of the city's water utility. In 2024, the water
fund's net position increased $95,939. Before transfers and capital contributions, the operating
income reported a $65,146 deficit. The change in net position includes depreciation of $465,903. The
water operating revenues are covering 77% of the depreciation. Bonded debt payments in the water
fund totaled $593,126. Debt payments are covered by water rates, water connection and trunk fees,
and transfers from the sewer fund. Water rates have been incrementally increased over the past few
years to cover operational costs as well as water related debt. The current rates are sufficient for
the water fund operations and debt costs. Water revenues are set aside for future improvements
such as required maintenance on the current water tower and adding a second water tower to the
utility system. Water connections can dip in down economic times. Having water reserves can level
rate adjustments and help weather difficult economic times. Connections in 2024 were up with new
development. Starting in 2021, city council approved converting the mechanically read water meters
to cellular read meters. The project is covered through water rates and will continue for the next
couple of years until all meters are converted. Rates are reviewed annually as part of the budget
adoption.
Sanitary Sewer Enterprise Fund
The sanitary sewer fund is used to account for the operations of the city's sanitary sewer utility. In
2024, the sanitary sewer fund's net position increased $1,343,667 and realized $410,038 in operating
income. User fees are covering 100% of the depreciation, and 100% of the non-operating revenues
and expenses. As a contract user of the St. Cloud Wastewater Treatment Facility, St. Joseph is
obligated to pay a portion of the costs to maintain the plant and conveyance system. St. Joseph
issued five notes with the City of St. Cloud for various facility and conveyance projects. The notes
are paid with reserved Sewer Access Charges (SAC), trunk fees and sewer usage rates. The
development fees through 2024 assisted in covering debt costs. Rate increases on average 1-3% to
cover operational and non-operational costs as well as the five-year capital improvement plan. Rates
are reviewed annually as part of the budget adoption. The City of Foley purchased sewer treatment
capacity from St. Joseph in 2023. The City of Foley will connect to the St. Cloud wastewater
treatment facility in 2024 took over $830,690 in notes payables from the City of St. Joseph. Without
the gain on sale of the sewer rights asset, the sewer fund realized an increase in net position of
$536,794; a healthy number for current and future projects.
City of St. Joseph
Management's Discussion and Analysis
18
FINANCIAL ANALYSIS OF THE CITY'S FUNDS AT THE FUND LEVEL (CONTINUED)
Refuse Enterprise Fund
The refuse fund is used to account for the contract services to provide residential refuse, recycling,
and compost services. The refuse fund ended 2024 with a net position of $292,825, an increase of
$40,097. The city council approved increases in user fees to cover contracted services. The compost
contract is renewed annually with C&L Excavating. Part of the five-year capital plan, the City of St.
Joseph will explore locations for a future city-run compost site. Compost permits are covering annual
seed funds to be able to open the site. The City of St. Joseph extended the refuse and recycling bid
with Republic Services through 2026. Republic Services has provided the refuse and recycling services
in the city for many years and is able to accommodate a spring and fall city-wide cleanup. Service
fees increased with the contract, and passed onto the user fees.
Storm Water Enterprise Fund
The storm water fund is used to account for the operations of the city's storm water utility as
mandated by the State of Minnesota. In 2024, the storm water fund's net position increased $23,537.
The storm water fund realized an operating loss of $7,766, covering 95% depreciation. In 2018 the
city council opted to reduce the storm water usage rates by half in order to accommodate increases
in other utilities. When adding nonoperating revenues the storm water fund realized a gain of
$19,201. Nominal increases are expected in the future to continue covering operating and
nonoperating costs. In addition, the storm water fund received $21,931 in capital contributions to
assist in the increased net position of the fund.
Street Light Utility Enterprise Fund
The street light utility fund is used to account for the operations of the city's street lighting. As of
December 31, 2024, the street light utility fund's change in net position increased $25,040, and an
operating income of $19,883. The city council kept rates the same since charges are covering
expenses and the fund balance is healthy. The street light utility fund also covers expenses for
holiday lights on the street lights and other utility poles along Minnesota Street and College Avenue.
Overall, the net position of the street light utility fund has grown to $149,456 since splitting from the
general fund in 2013.
CAPITAL ASSETS AND DEBT ADMINISTRATION
Capital Assets
The capital assets include land, intangible assets, buildings, improvements, machinery and
equipment, infrastructure, easements, plant and lines, sewer rights, and construction in progress.
The City of St. Joseph's net capital assets for its governmental and business-type activities as of
December 31, 2024, amounts to $51,183,013 (net of accumulated depreciation), a decrease of
$1,442,739. The decrease in net capital assets was attributed to selling sewer treatment rights to the
City of Foley and increased accumulated depreciation. Net investment in capital assets increased
$2,958,622 with the asset additions.
City of St. Joseph
Management's Discussion and Analysis
19
CAPITAL ASSETS AND DEBT ADMINISTRATION (CONTINUED)
Capital Assets (Continued)
The table below is a summary of the City of St. Joseph's capital assets.
2024 2023 2024 2023 2024 2023
Land 762,197$ 762,197$ 377,882$ 377,882$ 1,140,079$ 1,140,079$
Easements 439,993 331,093 67,915 67,915 507,908 399,008
Construction in progress 2,214,611 2,091,427 862,883 516,009 3,077,494 2,607,436
Improvements 1,465,290 1,485,284 315,193 315,193 1,780,483 1,800,477
Infrastructure 29,383,500 27,912,714 - - 29,383,500 27,912,714
Buildings 7,421,043 7,421,043 8,797,686 8,797,686 16,218,729 16,218,729
Intangible assets 200,000 200,000 - - 200,000 200,000
Plant and lines - - 28,895,938 28,511,969 28,895,938 28,511,969
Sewer rights - - 9,180,410 10,977,565 9,180,410 10,977,565
Machinery and equipment 6,281,942 5,922,607 1,308,475 1,310,028 7,590,417 7,232,635
Less: accumulated
depreciation (27,939,779) (26,343,575) (18,852,166) (18,031,285) (46,791,945) (44,374,860)
Total net capital assets 20,228,797$ 19,782,790$ 30,954,216$ 32,842,962$ 51,183,013$ 52,625,752$
Capital Assets
Governmental Activities Business-Type Activities Total
Additional information on the City of St. Joseph's capital assets can be found in Note 6 beginning on
page 58 of this report. Total depreciation expense for 2024 was $2,957,011.
Long-Term Liabilities
The City of St. Joseph's long-term liabilities includes bonded debt, notes payables, compensated
absences, and net pension liability. Overall, the long-term liabilities totaled $25,607,377 as of
December 31, 2024, a decrease of $2,349,801.
The City of St. Joseph issued two debts and paid one debt in full. The City of Foley also took over
$830,690 from St. Joseph in two PFA loans for sewer treatment through the City of St. Cloud. The
debts issued amount less than the amounts defeased. The bonds and notes liabilities decreased
$2,324,180 (including the change in amortized premiums). The 2024A bonds and St. Cloud metro
force main PFA loan totaled $1,584,914 while amount paid in 2024 amounted to $2,859,292, plus the
St. Cloud PFA loan reductions of $830,690.
At the end of the current fiscal year, the City of St. Joseph had total net bonded debt outstanding of
$21,839,499. Of this amount, $20,108,569 comprises debt backed by the full faith and credit of the
government. The remainder of the City of St. Joseph's debt represents bonds and notes secured by
specified revenue sources (i.e., utility bonds). Other long-term debt includes compensated absences
payable and net pension liabilities.
City of St. Joseph
Management's Discussion and Analysis
20
CAPITAL ASSETS AND DEBT ADMINISTRATION (CONTINUED)
Long-Term Liabilities (Continued)
Compensated absences decreased $25,271 in 2024. The city had one long time employee retire in
2024 with maximum benefits accrued and added a full-time Utility Worker. The additional full-time
employee brings the number of full-time employments to 31 employees, one more than 2023.
Employees added to their accrual balances and pay rates increased in 2024 with a general increase of
3%. The City of St. Joseph implemented GASB 101 in 2024, but the impact was minimal since the city
recognizes 100% of the accrued benefits already.
Net pension liability accounts for the City's portion of the Public Employees Retirement Association of
Minnesota (PERA). As per Minnesota Statutes, the City is required to participate in the PERA program.
The City's share of the liability fluctuates each year based on law changes and funding levels. For
2024, the net pension liability decreased $410,477.
An illustration of the city's long-term liabilities is included in the table below.
Increase
2024 2023 (Decrease)
Governmental Activities
General obligation bonds 4,310,909$ 4,776,046$ (465,137)$ -10%
General obligation special assessment bonds 9,702,552 10,042,830 (340,278) -3%
General obligation abatement bonds 6,095,108 6,342,262 (247,154) -4%
Compensated absences payable 589,633 635,770 (46,137) -7%
Net pension liability 1,521,202 1,827,943 (306,741) -17%
Total governmental activities 22,219,404$ 23,624,851$ (1,405,447)$ -6%
Increase
2024 2023 (Decrease)
Business-Type Activities
General obligation revenue bonds 1,730,930$ 2,440,474$ (709,544)$ -29%
Notes payable 3,005,070 3,567,137 (562,067) -16%
Compensated absences payable 173,175 152,659 20,516 13%
Net penion liability 164,351 268,087 (103,736) -39%
Total business-type activities 5,073,526$ 6,428,357$ (1,354,831)$ -21%
Percent
Change
Percent
Change
Outstanding Long-Term Liabilities
The City of St. Joseph issued $977,000 general obligation special assessment bonds, series 2024A in
fall 2024. The bonds paid for the 2024 street overlays improvements in the Forest Manor subdivision
and St. Joseph Industrial Park East subdivision on Pearl Drive and 304th Street. The bonds also paid
for trail improvements in Klinefelter Park and Liberty Pointe 2nd Addition.
The St. Cloud PFA loan partial issuance of $607,914 is for the St. Joseph allocation for the
construction to date on the metro force main replacement in St. Cloud.
City of St. Joseph
Management's Discussion and Analysis
21
CAPITAL ASSETS AND DEBT ADMINISTRATION (CONTINUED)
Long-Term Liabilities (Continued)
The City of St. Joseph maintained their long-term bond rating AA-/Stable from S&P Global on the
2023A bond issue and reaffirmed their AA-/Stable long-term rating on their previous bond ratings.
The city did not get an update on the bond rating with the 2024A bond issuance due to the size of
the issue (under $1 million). The report stated St. Joseph has maintained a stable history of
operational performance, as the city maintains a very strong reserve and liquidity, and which is
believed has positioned the city well to hold steady during uncertain economic times. Historically,
the city has consistently maintained reserves at a level above its fund balance policy of four-to-six
months of expenditures, which S&P Global believe provides financial flexibility in times of stress.
S&P Global's assessment reflects the city's access to a broad and diverse MSA population, strong
financial management, adequate budget performance, very strong budgetary flexibility, and very
strong liquidity. The debt and contingent liabilities of the city was rated weak with high debt service
fixed costs, but rapid amortization, with 84.4% of debt scheduled to be retired in ten years.
Minnesota Statutes limit the amount of net general obligation debt a governmental entity may issue
to 3% of its taxable market value. Net general obligation debt is debt solely paid for, with limited
exceptions, by ad valorem taxes. The current debt limitation for the City of St. Joseph is
$19,927,500 which significantly exceeds the outstanding pure general obligation debt of $4,680,000.
Additional information on the city's long-term liabilities can be found in Note 7 beginning on page 60
of this report.
ECONOMIC FACTORS AND NEXT YEAR'S BUDGETS AND RATES
The past few years have been exciting in the City of St. Joseph after several years of contracting
economies from the 2008 Great Recession. After several years of declining market values and slow
development, the city's taxable market value increased 47% in the past five years, 9% in 2024, and
development continues to be encouraging. As a result of improved conditions, the city has been able
to keep a stable tax rate while maintaining service levels.
In 2024, nine new single-family home permits were issued, and new commercial construction permits
issued for seven commercial and industrial buildings. The new commercial and industrial buildings
include The House Food and Tap, Hansen and Co. Woodworks, TB Investments, Promotional
Resources expansion, Floor to Ceiling, Premier Stone, and Interstate Bearing. All, but The House
Food and Tap and Interstate Bearing are new buildings in the industrial park expansion area. Adding
remodel and maintenance-type commercial and residential permits for the year, the City of St.
Joseph issued 418 building permits with a permit valuation of $26,653,615. An average year sees
around 350 building permits issued.
Downtown development continues in St. Joseph. The city council approved a mixed-use
redevelopment tax increment financing building in 2007 to start the investment in reimagining the
downtown. Since then, two mixed-use buildings were constructed, several storefronts upgraded and
remodeled, historical structures were refaced, and new businesses were added. The most recent
addition was replacing a run-
City of St. Joseph
Management's Discussion and Analysis
22
ECONOMIC FACTORS AND NEXT YEAR'S BUDGETS AND RATES (CONTINUED)
down vehicle service station that was closed for many years to The House Food and Tap. Now the
entrance to the western edge of downtown has a welcoming building for visitors and families to
gather. The shops, restaurants, bars and establishments are a draw to visitors from near and far.
Many visitors lodge at the Estates Bed and Breakfast at the east-end of the downtown while visiting
St. Joseph. The downtown provides a safe and warm welcome to all who visit.
The expanded industrial park, known as Northland Business Center, had five new businesses begin
construction in 2024. The Northland Business Center is a public-private partnership with a developer
to add commercial and industrial lots in the City of St. Joseph. The city was awarded $1.245 million
in Minnesota BDPI grant funds to assist with infrastructure costs to expand the business park. CLC
Partners and the City of St. Joseph financed the remaining costs that are reimbursed as lots are sold.
At the end of 2024, three lots remain for sale out of the original 26 lots available. The lots sold
faster than anticipated, adding jobs and tax base to the City of St. Joseph.
As stated, single-family residential construction included nine new homes built in 2024. Nationally
and in Minnesota, the housing market is improving. In the City of St. Joseph, two developers recently
expanded their developments to provide 34 lots in three subdivisions. In addition, the Country Manor
Senior Living Campus development constructed seven single-family patio homes in their first phase of
development. The first phase includes ten detached patio home lots. The remaining three lots have
been purchased by Berscheid Builders, LLC. CLC Partners purchased the abutting Outlot in the
Country Manor Senior Living Campus subdivision which has been preliminary platted for 30 single-
family patio homes. Country Manor plans two market rate apartments on the north side of their
planned unit development. The first 51-unit apartment was constructed in 2023, and an additional
50-unit apartment is planned in the next few years. There are two other market rate apartments
proposed for 2025, a 27-unit apartment in the Hill Street neighborhood, and a 42-unit apartment off
20th Ave SE. St. Joseph is fortunate to have a very low foreclosure rate. In fact, homes that become
available for sale do not stay on the market for an extended period. The city council set a priority to
work with developers to expand the available residential lots.
In addition to new construction, current structures have impacted on the net tax capacity. The sale
prices have increased along with the assessors estimated market values for existing properties. To
stay in compliance with Minnesota Statutes, the sales price ration indicated the need to increase
existing market values. This combined with the new buildings, market values increased 9% for the
2024 taxable market values.
The City of St. Joseph submitted a bonding request for State Legislative consideration in 2020 for the
community center. The State of Minnesota included funding the $4M request for the St. Joseph
Community Center in their fall 2020 bonding bill. The city began pre-design phase and hired a firm,
Kinetic, to conduct a capital campaign for the project in 2023 through 2024. In addition, the City of
St. Joseph and the YMCA partnered for operations of the new facility. The City of St. Joseph will own
the facility and lease the operations to the St. Cloud Area Family YMCA (YMCA). The YMCA is assisting
with the design phase and capital campaign to help build the recreational facility to meet the
operational
City of St. Joseph
Management's Discussion and Analysis
23
ECONOMIC FACTORS AND NEXT YEAR'S BUDGETS AND RATES (CONTINUED)
needs in the future. The capital campaign raised over $2.4M in pledges as of the end of 2024.
Beginning in 2025, the city council switched capital campaign management firms from Kinetic to Jon
Ruis Consulting to complete the fundraising for the project. The City of St. Joseph also contracted
with HMA Architect for design and bidding, W. Gohman Construction as construction management,
and S.E.H. for civil engineering. The St Joseph Community Center/YMCA will be located east of the
St. Joseph Government Center on a vacant 8.35-acre lot owned by the city. A 45,000 square foot
facility is planned for phase I with construction planned to begin in 2026.
In 2018, the City of Foley began negotiating with the City of St. Cloud and area cities to connect to
the St. Cloud wastewater treatment facility. The sewer use agreement includes the contracted area
cities of St. Joseph, St. Cloud, St. Augusta, Waite Park, Sartell, and Sauk Rapids. The area cities
agreed to amending the sewer use agreement and pooled capacity to allow the City of Foley to join.
As a new user, the City of Foley reimbursed the cities selling their pooled capacity and take over
future debt payments for their new portion of the treatment facility. The City of St. Joseph approved
selling their pooled capacity to the City of Foley. Under the new amendment, St. Joseph received an
upfront reimbursement of $1,449,288 for their purchased debt through 2023. Beginning in 2024, the
City of Foley will realize their portion of plant capacity debt payments and will reduce the amount
owed by the City of St. Joseph. Future debt savings for St. Joseph is estimated to be $830,690 from
2024 through 2030. The City of St. Joseph plans to use the reimbursements for future sewer
improvements and reduce the sewer service costs to rate payers.
In 2020, the United States and around the world felt the economic impact of the COVID-19 virus
pandemic. The United States, State of Minnesota and the City of St. Joseph declared public health
emergencies to respond to the pandemic. In 2021, The President signed the American Rescue Plan
Act (ARPA) where direct funding to municipalities was available. The City of St. Joseph received
$803,334 between 2021 and 2024. As of December 31, 2024, the City of St. Joseph spent down the
grant dollars on the main server upgrades, finance software, surveillance cameras, technology
updates, body cameras, police radar and rifles, outdoor pickleball courts and cellular water meters.
The City of St. Joseph was awarded Minnesota DNR and LCCMR grants in the amounts of $250,385 and
$700,000, respectively, for the first phase development of Rivers Bend Park. The first phase will
consist of paved parking, paved natural trails, canoe/kayak landing improvements, handicap dock,
trees and plantings. City council also approved $300,000 of city funds from the St. Cloud Area local
option sales tax funds. Construction began in summer 2024 with completion in summer 2025.
REQUESTS FOR INFORMATION
The audited financial report is designed to provide a general overview of the City of St. Joseph's
finances for all those with an interest in the City's finances. Questions concerning any of the
information provided in this report or requests for additional financial information should be
addressed to the Finance Director, 75 Callaway Street East, St. Joseph, MN 56374.
24
25
BASIC FINANCIAL STATEMENTS
See notes to basic financial statements. 26
Governmental
Activities
Business-Type
Activities Total
Assets
Cash and investments (including cash equivalents)19,738,746$ 6,259,946$ 25,998,692$
Property tax receivable 16,394 5 16,399
Accounts receivable 54,300 571,135 625,435
Interest receivable 108,830 34,909 143,739
Due from other governments 1,436,339 - 1,436,339
Notes receivable 28,754 - 28,754
Lease receivable 8,325 74,922 83,247
Special assessments receivable
Delinquent 395 684 1,079
Deferred 1,799,424 31,333 1,830,757
Inventories - 39,405 39,405
Net pension asset 315,664 - 315,664
Capital assets not being depreciated
Land 762,197 377,882 1,140,079
Easements 439,993 67,915 507,908
Construction in progress 2,214,611 862,883 3,077,494
Capital assets being depreciated
Buildings 7,421,043 8,797,686 16,218,729
Infrastructure 29,383,500 - 29,383,500
Improvements 1,465,290 315,193 1,780,483
Intangible asset 200,000 - 200,000
Plant and lines - 28,895,938 28,895,938
Machinery and equipment 6,281,942 1,308,475 7,590,417
Sewer rights - 9,180,410 9,180,410
Less accumulated depreciation (27,939,779) (18,852,166) (46,791,945)
Capital assets (net of accumulated depreciation)20,228,797 30,954,216 51,183,013
Total assets 43,735,968 37,966,555 81,702,523
Deferred Outflows of Resources
Deferred outflows of resources related to pensions 1,853,535 60,909 1,914,444
Total assets and deferred outflows of resources 45,589,503$ 38,027,464$ 83,616,967$
City of St. Joseph
Statement of Net Position
December 31, 2024
27
Governmental
Activities
Business-Type
Activities Total
Liabilities
Accounts payable 119,386$ 58,404$ 177,790$
Contracts payable 56,016 - 56,016
Due to other governments 6,972 161,484 168,456
Salaries and benefits payable 159,288 14,400 173,688
Interest payable 45,536 25,036 70,572
Unearned revenue 5,599 - 5,599
Bond principal payable (net)
Payable within one year 1,938,000 685,000 2,623,000
Payable after one year 18,170,569 1,045,930 19,216,499
Notes payable (net)
Payable within one year - 395,299 395,299
Payable after one year - 2,609,771 2,609,771
Compensated absences payable
Payable within one year 195,921 43,717 239,638
Payable after one year 393,712 129,458 523,170
Net pension liability 1,521,202 164,351 1,685,553
Total liabilities 22,612,201 5,332,850 27,945,051
Deferred Inflows of Resources
Deferred inflows of resources related to pensions 2,187,738 106,102 2,293,840
Deferred inflows of resources related to debt 5,550 11,924 17,474
Deferred inflows of resources related to leases 8,325 74,922 83,247
Total deferred inflows of resources 2,201,613 192,948 2,394,561
Net Position
Net investment in capital assets 9,065,672 26,218,216 32,988,865
Restricted for
Debt service 5,612,953 - 5,612,953
Other purposes 4,711,520 - 4,711,520
Unrestricted 1,385,544 6,283,450 9,964,017
Total net position 20,775,689 32,501,666 53,277,355
Total liabilities, deferred inflows of resources,
and net position 45,589,503$ 38,027,464$ 83,616,967$
City of St. Joseph
Statement of Net Position
December 31, 2024
28
See notes to basic financial statements. 29
Program Revenues
Expenses
Charges for
Services
Operating
Grants and
Contributions
Capital Grants
and
Contributions
Governmental
Activities
Business-Type
Activities Total
Governmental activities
General government 1,473,900$ 124,443$ 1,101$ -$ (1,348,356)$ -$ (1,348,356)$
Public safety 2,929,038 510,664 315,945 150,927 (1,951,502) - (1,951,502)
Public works 1,932,425 42,496 - 828,200 (1,061,729) - (1,061,729)
Economic development 318,448 24,561 - - (293,887) - (293,887)
Culture and recreation 773,081 40,767 13,742 724,542 5,970 - 5,970
Interest on long-term debt 572,818 - - - (572,818) - (572,818)
Total governmental activities 7,999,710 742,931 330,788 1,703,669 (5,222,322) - (5,222,322)
Business-type activities
Water 1,343,333 1,299,979 678 212 - (42,464) (42,464)
Sanitary sewer 1,206,960 1,667,481 739 - - 461,260 461,260
Refuse 498,932 519,726 407 - - 21,201 21,201
Storm water 227,632 219,866 5,419 - - (2,347) (2,347)
Street light utility 68,417 88,300 49 - - 19,932 19,932
Total business-type activities 3,345,274 3,795,352 7,292 212 - 457,582 457,582
Total governmental and
business-type activities 11,344,984$ 4,538,283$ 338,080$ 1,703,881$ (5,222,322) 457,582 (4,764,740)
General revenues
Property taxes 4,101,940 4 4,101,944
Tax increments 157,342 - 157,342
Sales taxes 656,612 - 656,612
Lodging taxes 13,738 - 13,738
Miscellaneous taxes 1,948 - 1,948
Franchise fees 187,873 - 187,873
State aids 1,545,272 - 1,545,272
Unrestricted investment earnings 907,517 237,363 1,144,880
Gain on sale of assets 52,804 806,873 859,677
Transfers 2,495 (2,495) -
Total general revenues and transfers 7,627,541 1,041,745 8,669,286
Change in net position 2,405,219 1,499,327 3,904,546
Net position - beginning 18,370,470 31,002,339 49,372,809
Net position - ending 20,775,689$ 32,501,666$ 53,277,355$
Functions/Programs
City of St. Joseph
Statement of Activities
Year Ended December 31, 2024
and Changes in Net Position
Net (Expense) Revenue
See notes to basic financial statements. 30
Debt Service Capital Projects
General Fund
(101-110)
G.O.
Improvement
Bonds of
2016B (304)
Community
Center/YMCA
(402)
Other
Governmental
Funds
Total
Governmental
Funds
Assets
Cash and investments 5,208,869$ 172,920$ 6,021,051$ 8,718,745$ 20,121,585$
Taxes receivable - delinquent 11,796 20 - 4,578 16,394
Special assessments receivable
Delinquent - - - 395 395
Deferred 192,541 527,755 - 1,079,128 1,799,424
Accounts receivable 42,883 - - 11,417 54,300
Interest receivable 22,504 1,177 30,491 54,658 108,830
Due from other funds - - - 1,300 1,300
Due from other governments 1,008,025 31 - 428,283 1,436,339
Notes receivable - - - 28,754 28,754
Lease receivable 8,325 - - - 8,325
Total assets 6,494,943$ 701,903$ 6,051,542$ 10,327,258$ 23,575,646$
Liabilities
Accounts payable 82,697$ -$ -$ 36,689$ 119,386$
Contracts payable 8,846 - - 47,170 56,016
Due to other funds - - - 1,300 1,300
Due to other governments 6,724 - - 248 6,972
Salaries and benefits payable 76,472 - - 82,816 159,288
Unearned revenue 5,599 - - - 5,599
Total liabilities 180,338 - - 168,223 348,561
Deferred Inflows of Resources
Unavailable revenue - property taxes 11,796 20 - 4,578 16,394
Unavailable revenue - special assessments 192,541 527,755 - 1,079,523 1,799,819
Unavailable revenue - state shared taxes 981,577 - - - 981,577
Unavailable revenue - lease receivable 8,325 - - - 8,325
Total deferred inflows of resources 1,194,239 527,775 - 1,084,101 2,806,115
Fund Balances
Restricted 140,774 174,128 6,051,542 7,011,226 13,377,670
Committed - - - 626,195 626,195
Assigned 1,840,752 - - 1,438,467 3,279,219
Unassigned 3,138,840 - - (954) 3,137,886
Total fund balances 5,120,366 174,128 6,051,542 9,074,934 20,420,970
Total liabilities, deferred inflows
of resources, and fund balances 6,494,943$ 701,903$ 6,051,542$ 10,327,258$ 23,575,646$
City of St. Joseph
Balance Sheet - Governmental Funds
December 31, 2024
See notes to basic financial statements. 31
City of St. Joseph
Reconciliation of the Balance Sheet to
the Statement of Net Position - Governmental Funds
Total fund balances - governmental funds 20,420,970$
Capital assets used in governmental activities are not current financial resources and, therefore,
are not reported as assets in governmental funds.
Cost of capital assets 48,168,576
Less accumulated depreciation/amortization (27,939,779)
Long-term liabilities, including bonds payable, are not due and payable in the current period and,
therefore, are not reported as liabilities in the funds.
Long-term liabilities at year-end consist of:
Bond principal payable, net of premiums and discounts (20,108,569)
Deferred charges on refunding (5,550)
Compensated absences payable (589,633)
Net pension liability (1,521,202)
Delinquent receivables will be collected in subsequent years, but are not available soon enough
to pay for the current period's expenditures and, therefore, are deferred in the funds.
Property taxes 16,394
Special assessments 395
Other long-term assets are not available to pay for current expenditures and, therefore, are deferred
in the funds.
Deferred special assessments 1,799,424
MSA Receivable 981,577
Deferred outflows of resources and deferred inflows of resources are created as a result of various
differences related to pensions that are not recognized in the governmental funds.
Deferred inflows of resources related to pensions (2,187,738)
Deferred outflows of resources related to pensions 1,853,535
Net pension assets created through non-employer contributions to defined benefit pension plans
are not recognized in the governmental funds.
Fire relief net pension asset 315,664
The water access capital project fund is proprietary in nature and, therefore, included in the
business-type activities in the Statement of Net Position. (315,691)
The sewer access capital project fund is proprietary in nature and, therefore, included in the
business-type activities in the Statement of Net Position. (67,148)
Governmental funds do not report a liability for accrued interest due and payable. (45,536)
20,775,689$
Amounts reported for governmental activities in the Statement of Net Position are different because:
Total net position - governmental activities
Year Ended December 31, 2024
See notes to basic financial statements. 32
Capital Projects
General Fund
(101-110)
G.O.
Improvement
Bonds of 2016B
(304)
Formerly G.O.
Industrial Park
Bonds of 2019A
(308)
Community
Center/YMCA
(402)
Revenues
Property taxes 2,566,778$ 4,997$ -$ -$
Tax increments - - - -
Sales taxes - - - -
Lodging taxes - - - -
Miscellaneous taxes 1,948 - - -
Special assessments 59,979 22,344 - -
Franchise fees 187,873 - - -
Licenses and permits 336,464 - - -
Intergovernmental 1,936,261 - - -
Charges for services 65,544 - - -
Fines and forfeitures 55,130 - - -
Miscellaneous
Investment income 153,545 8,087 - 55,292
Contributions and donations 16,242 - - 226,900
Revolving loan repayments - - - -
Other 69,263 - - -
Total revenues 5,449,027 35,428 - 282,192
Expenditures
Current
General government 1,275,664 - - -
Public safety 2,219,673 - - -
Public works 693,138 - - -
Culture and recreation 714,445 - - -
Economic development - - - -
Debt service
Principal - 50,000 - -
Interest and other charges - 11,372 - -
Capital outlay
General government 24,331 - - -
Public safety 200,550 - - -
Public works 52,063 - - -
Culture and recreation 296,538 - - 2,000
Total expenditures 5,476,402 61,372 - 2,000
Excess of revenues over
(under) expenditures (27,375) (25,944) - 280,192
Other Financing Sources (Uses)
Insurance recoveries 20,070 - - -
Sale of property 36,874 - - -
Bonds issued - - - -
Transfers in 616,355 5,000 - -
Transfers out (132,815) - - (577,500)
Total other financing sources (uses) 540,484 5,000 - (577,500)
Net change in fund balances 513,109 (20,944) - (297,308)
Fund Balances
Beginning of year, as previously stated 4,607,257 - 952,132 6,348,850
Change within financial reporting entity (See Note 13)- 195,072 (952,132) -
Beginning of year, as restated 4,607,257 195,072 - 6,348,850
End of year 5,120,366$ 174,128$ -$ 6,051,542$
City of St. Joseph
Statement of Revenues, Expenditures, and
Changes in Fund Balances - Governmental Funds
Year Ended December 31, 2024
Debt Service
33
Other
Governmental
Funds
Total
Governmental
Funds
1,527,537$ 4,099,312$
157,342 157,342
656,612 656,612
13,738 13,738
- 1,948
991,425 1,073,748
- 187,873
- 336,464
361,530 2,297,791
408,013 473,557
- 55,130
677,984 894,908
55,822 298,964
1,064 1,064
10,904 80,167
4,861,971 10,628,618
- 1,275,664
378,880 2,598,553
- 693,138
1,562 716,007
317,785 317,785
1,805,000 1,855,000
752,617 763,989
7,573 31,904
118,758 319,308
1,033,431 1,085,494
314,825 613,363
4,730,431 10,270,205
131,540 358,413
- 20,070
19,000 55,874
977,000 977,000
716,019 1,337,374
(825,239) (1,535,554)
886,780 854,764
1,018,320 1,213,177
7,299,554 19,207,793
757,060 -
8,056,614 19,207,793
9,074,934$ 20,420,970$
See notes to basic financial statements. 34
Reconciliation of the Statement of Revenues, Expenditures,
and Changes in Fund Balances to the Statement
Total net change in fund balances - governmental funds 1,213,177$
Amounts reported for governmental activities in the Statement of Activities are different because:
Capital outlays are reported in governmental funds as expenditures. However, in the Statement
of Activities, the cost of those assets is allocated over the estimated useful lives as depreciation
expense.
Capital outlays 2,052,796
Capital contributions 219,206
Depreciation expense (1,791,100)
Disposal of capital assets (3,070)
Transferred to proprietary funds (31,825)
Principal payments on long-term debt are recognized as expenditures in the governmental funds
but as an increase in net position in the Statement of Activities. 1,855,000
Some expenses reported in the Statement of Activities do not require the use of current financial
resources and, therefore, are not reported as expenditures in governmental funds.
Accrued interest payable 14,767
Amortization of bond discounts, premiums and deferred charges 176,404
Proceeds from long-term debt are recognized as an other financing source in the governmental
funds but as a decrease in net position in the Statement of Activities. (977,000)
Compensated absence payments are recognized as paid in the governmental funds but recognized
as the expense is incurred in the Statement of Activities. 45,787
Delinquent receivables will be collected in subsequent years, but are not available soon enough to
pay for the current period's expenditures and, therefore, are not revenues in the funds.
Delinquent special assessments 154
Delinquent property taxes 2,628
Certain revenues in the Statement of Activities that do not provide current financial resources are
not reported as revenues in the funds.
Deferred special assessments (674,207)
MSA receivable 307,051
Governmental funds recognized pension contributions as expenditures at the time of payment
whereas the Statement of Activities factors in items related to pensions on a full accrual perspective.
Pension expense (33,502)
The water access capital project fund is proprietary in nature and, therefore, is reported with
business-type activities. 58,350
The sewer access capital project fund is proprietary in nature and, therefore, is reported with
business-type activities. (29,397)
Change in net position - governmental activities 2,405,219$
of Activities - Governmental Funds
City of St. Joseph
Year Ended December 31, 2024
See notes to basic financial statements. 35
Original and
Final
Budget
Actual
Amounts
Revenues
Property taxes 2,564,054$ 2,566,778$ 2,724$
Miscellaneous taxes 750 1,948 1,198
Special assessments 5,500 59,979 54,479
Franchise fees 193,225 187,873 (5,352)
Licenses and permits 234,620 336,464 101,844
Intergovernmental 1,727,106 1,936,261 209,155
Charges for services 73,965 65,544 (8,421)
Fines and forfeitures 72,500 55,130 (17,370)
Miscellaneous revenues
Investment income 25,000 153,545 128,545
Contributions and donations 1,400 16,242 14,842
Other 69,000 69,263 263
Total revenues 4,967,120 5,449,027 481,907
Expenditures
Current
General government 1,292,820 1,275,664 (17,156)
Public safety 2,383,455 2,219,673 (163,782)
Public works 648,385 693,138 44,753
Culture and recreation 490,540 714,445 223,905
Capital outlay
General government 21,460 24,331 2,871
Public safety 304,391 200,550 (103,841)
Public works 52,950 52,063 (887)
Culture and recreation 175,950 296,538 120,588
Total expenditures 5,369,951 5,476,402 106,451
Excess of revenues over (under) expenditures (402,831) (27,375) 375,456
Other Financing Sources (Uses)
Insurance recoveries - 20,070 20,070
Sale of property 19,000 36,874 17,874
Transfers in 5,995 616,355 610,360
Transfers out (111,350) (132,815) (21,465)
Total other financing sources (uses)(86,355) 540,484 626,839
Net change in fund balances (489,186)$ 513,109 1,002,295$
Fund Balances
Beginning of year 4,607,257
End of year 5,120,366$
Variance with
Final Budget -
Over (Under)
City of St. Joesph
Statement of Revenues, Expenditures, and
Changes in Fund Balance -
Budget and Actual - General Fund
Year Ended December 31, 2024
See notes to basic financial statements. 36
Water (601)
Sanitary Sewer
(602)Refuse (603)
Storm Water
(651)
Street Light
Utility (652)Total
Assets
Current assets
Cash and investments 1,457,314$ 3,373,500$ 238,926$ 662,719$ 144,648$ 5,877,107$
Taxes receivable - delinquent 5 - - - - 5
Special assessments receivable
Delinquent 273 283 101 18 9 684
Deferred 26,347 466 267 4,225 28 31,333
Accounts receivable 169,945 261,952 87,982 36,548 14,708 571,135
Interest receivable 11,380 18,424 1,149 3,207 749 34,909
Lease receivable 74,922 - - - - 74,922
Inventory 39,405 - - - - 39,405
Total current assets 1,779,591 3,654,625 328,425 706,717 160,142 6,629,500
Noncurrent assets
Capital assets
Land 372,941 4,941 - - - 377,882
Easements - - - 67,915 - 67,915
Construction in progress 58,855 804,028 - - - 862,883
Buildings 7,502,432 1,295,254 - - - 8,797,686
Improvements 315,193 - - - - 315,193
Plants and lines 11,624,003 9,940,908 - 7,331,027 - 28,895,938
Machinery and equipment 331,450 736,779 67,998 172,248 - 1,308,475
Sewer rights - 9,180,410 - - - 9,180,410
Total capital assets 20,204,874 21,962,320 67,998 7,571,190 - 49,806,382
Less accumulated depreciation (8,242,796) (8,145,366) (51,577) (2,412,427) - (18,852,166)
Net capital assets 11,962,078 13,816,954 16,421 5,158,763 - 30,954,216
Total noncurrent assets 11,962,078 13,816,954 16,421 5,158,763 - 30,954,216
Total assets 13,741,669 17,471,579 344,846 5,865,480 160,142 37,583,716
Deferred Outflows of Resources
Deferred outflows of resources related to pensions 26,838 25,325 2,427 5,105 1,214 60,909
Total assets and deferred outflows of resources 13,768,507$ 17,496,904$ 347,273$ 5,870,585$ 161,356$ 37,644,625$
Liabilities
Current liabilities
Accounts payable 10,884$ 5,758$ 36,222$ 579$ 4,961$ 58,404$
Due to other governments 1,393 154,238 5,853 - - 161,484
Salaries and benefits payable 6,640 5,280 568 880 1,032 14,400
Interest payable 1,784 23,252 - - - 25,036
Long-term liabilities due
Within one year 575,435 545,734 987 1,367 493 1,124,016
Total current liabilities 596,136 734,262 43,630 2,826 6,486 1,383,340
Noncurrent liabilities
Compensated absences 83,753 83,753 1,030 4,124 515 173,175
Notes payable, net - 3,005,070 - - - 3,005,070
Bonds payable, net 1,162,700 568,230 - - - 1,730,930
Net pension liability 72,416 68,335 6,548 13,775 3,277 164,351
Less amounts due within one year (575,435) (545,734) (987) (1,367) (493) (1,124,016)
Total noncurrent liabilities 743,434 3,179,654 6,591 16,532 3,299 3,949,510
Total liabilities 1,339,570 3,913,916 50,221 19,358 9,785 5,332,850
Deferred Inflows of Resources
Deferred inflows of resources related to pensions 46,751 44,116 4,227 8,893 2,115 106,102
Deferred inflows of resources related to leases 74,922 - - - - 74,922
Deferred inflows of resources related to debt 6,162 5,762 - - - 11,924
Total deferred inflows 127,835 49,878 4,227 8,893 2,115 192,948
Net Position
Net investment in capital assets 10,799,378 10,243,654 16,421 5,158,763 - 26,218,216
Unrestricted 1,501,724 3,289,456 276,404 683,571 149,456 5,900,611
Total net position 12,301,102 13,533,110 292,825 5,842,334 149,456 32,118,827
Total liabilities, deferred inflows of resources,
13,768,507$ 17,496,904$ 347,273$ 5,870,585$ 161,356$ 37,644,625$ and net position
City of St. Joseph
Statement of Net Positions - Proprietary Funds
December 31, 2024
See notes to basic financial statements. 37
City of St. Joseph
Reconciliation of the Statement
of Net Positions - Business-Type Activities
December 31, 2024
Total net position - proprietary funds 32,118,827$
Amounts reported for business-type activities in the Statement of Net Position are different because:
The water access capital project fund is proprietary in nature and relates to water improvements
for the applicable funds. Therefore, it is included as a business-type activity. 315,691
The sewer access capital project fund is proprietary in nature and relates to sewer improvements
for the applicable funds. Therefore, it is included as a business-type activity. 67,148
32,501,666$ Total net position - business-type activities
See notes to basic financial statements. 38
Water (601)
Sanitary Sewer
(602)Refuse (603)
Operating Revenues
Charges for services 1,174,066$ 1,564,643$ 519,726$
Operating Expenses
Wages and salaries 257,742 202,691 23,850
Materials and supplies 286,955 32,880 3,498
Repairs and maintenance 97,055 40,311 1,250
Professional services 98,915 20,906 2,861
Insurance 25,420 11,927 -
Utilities 78,969 23,162 -
Depreciation 465,903 530,188 3,198
Contracted services - 286,979 463,332
Equipment 2,843 1,677 -
Miscellaneous 12,738 3,884 943
Total operating expenses 1,326,540 1,154,605 498,932
Operating income (loss)(152,474) 410,038 20,794
Nonoperating Revenues
(Expenses)
Investment income 78,964 124,162 7,581
Special assessments 890 739 407
Gain on disposal of asset - 806,873 -
Property taxes 4 - -
Interest expense (58,962) (55,997) -
Amortization of bond premium 42,169 3,642 -
Other income 24,263 941 -
Total nonoperating revenues
(expenses)87,328 880,360 7,988
Income (loss) before capital
contributions and transfers (65,146) 1,290,398 28,782
Capital contributions 1,545 8,349 -
Transfers in 165,000 72,500 11,350
Transfers out (5,460) (27,580) (35)
Change in net position 95,939 1,343,667 40,097
Net Position
Beginning of year 12,205,163 12,189,443 252,728
End of year 12,301,102$ 13,533,110$ 292,825$
City of St. Joseph
Statement of Revenues, Expenses, and Changes
in Fund Net Position - Proprietary Funds
Year Ended December 31, 2024
39
Storm Water
(651)
Street Light
Utility (652)Total
219,866$ 88,300$ 3,566,601$
36,560 18,551 539,394
2,130 1,059 326,522
14,000 349 152,965
4,792 780 128,254
- - 37,347
1,161 47,493 150,785
166,622 - 1,165,911
- - 750,311
498 - 5,018
1,869 185 19,619
227,632 68,417 3,276,126
(7,766) 19,883 290,475
21,548 5,108 237,363
5,419 49 7,504
- - 806,873
- - 4
- - (114,959)
- - 45,811
- - 25,204
26,967 5,157 1,007,800
19,201 25,040 1,298,275
21,931 - 31,825
- - 248,850
(17,595) - (50,670)
23,537 25,040 1,528,280
5,818,797 124,416 30,590,547
5,842,334$ 149,456$ 32,118,827$
40
See notes to basic financial statements. 41
City of St. Joseph
Reconciliation of the Statement of Revenues, Expenses,
and Changes in Fund Net Position - Business-Type Activities
Total net change in fund net position - proprietary funds 1,528,280$
Amounts reported for business-type activities in the Statement of Activities are different because:
Recognized current year activity from the water access capital project fund with the business-type
activities. (58,350)
Recognized current year activity from the sewer access capital project fund with the business-type
activities. 29,397
Capital contributions from governmental activities (31,825)
Transfers in of capital assets from governmental activities 31,825
Change in net position - business-type activities 1,499,327$
Year Ended December 31, 2024
See notes to basic financial statements. 42
Water (601)
Sanitary Sewer
(602)Refuse (603)
Storm Water
(651)
Cash Flows - Operating Activities
Receipts from customers and users 1,160,767$ 1,538,344$ 502,840$ 219,170$
Payments to suppliers (636,751) (595,046) (462,668) (28,163)
Payments to employees (271,462) (215,373) (25,292) (38,272)
Other miscellaneous receipts 24,790 1,645 431 10,614
Net cash flows - operating activities 277,344 729,570 15,311 163,349
Cash Flows - Noncapital Financing
Activities
Transfer from other funds 165,000 72,500 11,350 -
Transfer to other funds (5,460) (27,580) (35) (17,595)
Net cash flows - noncapital financing
Activities 159,540 44,920 11,315 (17,595)
Cash Flows - Capital and Related
Financing Activities
Principal paid on debt (535,000) (692,067) - -
Interest paid on debt (58,126) (57,005) - -
Proceeds from disposal of capital assets - 830,690 - -
Acquisition of capital assets (9,715) (707,787) - (943)
Net cash flows - capital and related
Financing activities (602,841) (626,169) - (943)
Cash Flows - Investing Activities
Interest and dividends received 80,653 125,078 7,684 21,180
Net change in cash and cash equivalents (85,304) 273,399 34,310 165,991
Cash and Cash Equivalents
Beginning of year 1,542,618 3,100,101 204,616 496,728
End of year 1,457,314$ 3,373,500$ 238,926$ 662,719$
Reconciliation of Operating
Income (Loss) to Net Cash Flows -
Operating Activities
Operating income (loss)(152,474)$ 410,038$ 20,794$ (7,766)$
Adjustments to reconcile operating income (loss)
to net cash flows - operating activities
Depreciation expense 465,903 530,188 3,198 166,622
Pension expense (26,321) (24,916) (1,099) (1,168)
Other miscellaneous receipts 24,790 1,645 431 10,614
Accounts receivable (11,476) (26,299) (16,886) (696)
Inventory (8,250) - - -
Accounts payable (25,898) (56,013) 7,097 (823)
Contracts payable - - - (2,890)
Due to other governmental units 292 (117,307) 2,119 -
Salaries payable 1,582 1,215 162 220
Compensated absences payable 11,019 11,019 (505) (764)
Unearned revenue (1,823) - - -
Total adjustments 429,818 319,532 (5,483) 171,115
Net cash flows - operating activities 277,344$ 729,570$ 15,311$ 163,349$
Non-Cash Capital and Financing Activities
Capital asset contributions from
governmental funds 1,545$ 8,349$ -$ 21,931$
City of St. Joseph
Statement of Cash Flows - Proprietary Funds
Year Ended December 31, 2024
43
Street Light
Utility (652)Total
88,195$ 3,509,316$
(49,530) (1,772,158)
(19,087) (569,486)
58 37,538
19,636 1,205,210
- 248,850
- (50,670)
- 198,180
- (1,227,067)
- (115,131)
- 830,690
- (718,445)
- (1,229,953)
5,101 239,696
24,737 413,133
119,911 5,463,974
144,648$ 5,877,107$
19,883$ 290,475$
- 1,165,911
(546) (54,050)
58 37,538
(105) (55,462)
- (8,250)
336 (75,301)
- (2,890)
- (114,896)
263 3,442
(253) 20,516
- (1,823)
(247) 914,735
19,636$ 1,205,210$
-$ 31,825$
44
City of St. Joseph
Notes to Basic Financial Statements
45
NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
A. Reporting Entity
The City of St. Joseph (the "City") is a statutory city governed by an elected mayor and four council
members. The accompanying financial statements present the government entities for which the
government is financially accountable.
The financial statements present the City and its component units . The City includes all funds,
account groups, organizations, institutions, agencies, departments, and offices that are not legally
separate from such. Component units are legally separate organizations for which the elected
officials of the City are financially accountable and are included within the basic financial
statements of the City because of the significance of their operational or financial relationships with
the City.
The City is considered financially accountable for a component unit if it appoints a voting majority of
the organization's governing body and it is able to impose its will on the organization by significantly
influencing the programs, projects, activities , or level of services performed or provided by the
organization, or there is a potential for the organization to provide specific financial benefits to or
impose specific financial burdens on, the City.
As a result of applying the component unit definition criteria above, certain organizations have been
defined and are presented in this report as follows:
Blended Component Unit – Reported as if they were part of the City .
Joint Ventures – The relationship of the City with the entity is disclosed.
For each of the categories above, the specific entities are identified as follows:
1. Blended Component Unit
The St. Joseph Economic Development Authority (EDA) was organized for the purpose of
preserving and creating jobs, enhancing the tax base, and promoting the general welfare of the
people of the City. The St. Joseph EDA is governed by a five-member board appointed by the City
Council, two members of which are City Council Members. The St. Joseph EDA is included as a
blended component unit of the City because the St. Joseph EDA is financially accountable to the
City, as the City Council approves the budget . The St. Joseph EDA provides services almost
entirely for the City. The St. Joseph EDA is presented as the Economic Development Authority
Special Revenue Fund. Separate financial statements are not prepared for the St. Joseph EDA.
2. Joint Ventures
The Central Minnesota Major Crime Investigation Unit is a group of local law enforcement officers
within the four county surrounding areas that will be available to assist any of the participating
entities in the investigation and solution of major crimes. During 2024, the City contributed
$16,986 to the organization. It is reported as a special revenue fund of the City of Sartell.
Complete financial statements can be obtained from : City of Sartell, 125 Pine Cone Road North,
Sartell, Minnesota 56377.
City of St. Joseph
Notes to Basic Financial Statements
46
NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
B.Government-Wide and Fund Financial Statements
The government-wide financial statements (i.e., the Statement of Net Position and the Statement of
Activities) report information on all of the activities of the City . Governmental activities, which
normally are supported by taxes and intergovernmental revenues, are reported separately from
business-type activities, which rely to a significant extent on fees and charges for support.
The Statement of Activities demonstrates the degree to which the direct expenses of a given
function or segment is offset by program revenues . Direct expenses are those that are clearly
identifiable with a specific function or segment . Interest on general long-term debt is considered an
indirect expense and is reported separately in the Statement of Activities . Program revenues
include 1) charges to customers or applicants who purchase, use, or directly benefit from goods,
services, or privileges provided by a given function or segment and 2) grants and contributions that
are restricted to meeting the operational or capital requirements of a particular function or
segment. Taxes and other items not properly included among program revenues are reported
instead as general revenues. Internally dedicated revenues are reported as general revenues rather
than program revenues.
Separate financial statements are provided for governmental funds and proprietary funds . Major
individual governmental funds and major individual enterprise funds are reported as separate
columns in the fund financial statements.
C.Measurement Focus, Basis of Accounting, and Financial Statement Presentation
The government-wide financial statements are reported using the economic resources measurement
focus and the accrual basis of accounting, as are the proprietary fund financial statements. Revenues
are recorded when earned and expenses are recorded when a liability is incurred, regardless of the
timing of related cash flows. Property taxes are recognized as revenues in the year for which they are
levied. Grants and similar items are recognized as revenue as soon as all eligibility requirements
imposed by the provider have been met.
Governmental fund financial statements are reported using the current financial resources
measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon as
they are both measurable and available. Revenues are considered to be available when they are
collectible within the current period or soon enough thereafter to pay liabilities of the current
period. For this purpose, the City considers revenues to be available if they are collected within 60
days of the end of the current period. Expenditures generally are recorded when a liability is
incurred, as under accrual accounting. However, debt service expenditures, as well as expenditures
related to compensated absences and claims and judgments, are recorded only when payment is
due.
Property taxes, franchise taxes, licenses, and interest associated with the current period are all
considered to be susceptible to accrual and so have been recognized as revenues of the current
period. Only the portion of special assessments receivable due within the current period is
considered to be susceptible to accrual as revenue of the current period. All other revenue items
are considered to be measurable and available only when cash is received by the City.
City of St. Joseph
Notes to Basic Financial Statements
47
NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
C. Measurement Focus, Basis of Accounting, and Financial Statement Presentation (Continued)
Description of Funds:
Major Governmental Funds:
General Fund – This fund is the City's primary operating fund. It accounts for all financial resources
of the general City, except those required to be accounted for in another fund.
G.O. Improvement Bonds of 2016B – This fund accounts for the payments made on principal and
interest on bonds issued in relation to the 2016B G.O. Improvement Bonds.
Community Center/YMCA – This fund accounts for costs associated with the St. Joseph
Community Center/YMCA construction.
Proprietary Funds:
Water Fund – This fund accounts for the operations of the City's water utility.
Sanitary Sewer Fund – This fund accounts for the operations of the City's sanitary sewer utility.
Refuse Fund – This fund accounts for the operations of the City's refuse and compost utility.
Storm Water Fund – This fund accounts for the operations of the City's storm water utility.
Street Light Utility Fund – This fund accounts for the operations of the City's street light utility.
As a general rule, the effect of interfund activity has been eliminated from the government -wide
financial statements. Exceptions to this general rule are charges between the City 's water, sanitary
sewer, refuse, storm water, and street light utility functions and various other functions of the
City. Elimination of these charges would distort the direct costs and program revenues reported for
the various functions concerned.
Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating
revenues and expenses generally result from providing services and producing and delivering goods in
connection with a proprietary fund's principal ongoing operations. The principal operating revenues
of the Water, Sanitary Sewer, Refuse, Storm Water, and Street Light Utility Enterprise Funds are
charges to customers for sales and services. Operating expenses for enterprise funds include the cost
of sales and services, administrative expenses, and depreciation on capital assets. All revenues and
expenses not meeting this definition are reported as nonoperating revenues and expenses.
When both restricted and unrestricted resources are available for use, it is the City 's policy to use
restricted resources first, then unrestricted resources as they are needed.
City of St. Joseph
Notes to Basic Financial Statements
48
NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
D. Assets, Liabilities, Deferred Outflows/ Inflows of Resources, and Net Position or Equity
1. Deposits and Investments
Cash and investments include balances from all funds that are combined and invested to the
extent available in various securities as authorized by state law. Earnings from the pooled
investments are allocated to the individual funds based on the average of month -end cash and
investment balances.
The City's cash and cash equivalents are considered to be cash on hand, demand deposits , and
short-term investments with original maturities of three months or less from the date of
acquisition.
Minnesota Statutes § 118A outlines types of investments allowed, which authorizes the City to
invest in obligations of the U.S. Treasury, agencies, and instrumentalities, shares of investment
companies whose only investments are in the aforementioned securities, obligations of the State
of Minnesota or its municipalities, bankers' acceptances, future contracts, repurchase and reverse
repurchase agreements , and commercial paper of the highest quality with a maturity of no longer
than 270 days and in the Minnesota Municipal Investment Pool.
Certain investments for the City are reported at fair value as disclosed in Note 3. The City
categorizes its fair value measurements within the fair value hierarchy established by generally
accepted accounting principles. The hierarchy is based on the valuation inputs used to measure
the fair value of the asset. Level 1 inputs are quoted prices in active markets for identical assets;
Level 2 inputs are significant other observable inputs; Level 3 inputs are significant unobservable
inputs.
In accordance with GASB Statement No. 79, the Minnesota Municipal Investment Pool securities
are valued at amortized cost, which approximates fair value. There are no restrictions or
limitations on withdrawals from the 4M Liquid Asset Fund. Investments in the 4M Plus must be
deposited for a minimum of 14 calendar days. Withdrawals prior to the 14 -day restriction period
will be subject to a penalty equal to 7 days interest on the amount withdrawn.
2. Receivables and Payables
All trade and property tax receivables are shown at a gross amount since both are assessable to
the property taxes and are collectible upon the sale of the property.
The City levies its property tax for the subsequent year during the month of December.
December 28 is the last day the City can certify a tax levy to the County Auditor for collection
the following year. Such taxes become a lien on January 1 and are recorded as receivables by the
City at that date. The property tax is recorded as revenue when it becomes measurable and
available. Stearns County is the collecting agency for the levy and remits the collections to the
City four times a year. The tax levy notice is mailed in March with the first half of the payment
due on May 15 and the second half due on October 15. Taxes not collected as of December31
each year are shown as delinquent taxes receivable.
City of St. Joseph
Notes to Basic Financial Statements
49
NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
D. Assets, Liabilities, Deferred Outflows/ Inflows of Resources, and Net Position or Equity
(Continued)
2. Receivables and Payables (Continued)
The County Auditor prepares the tax list for all taxable property in the City, applying the
applicable tax rate to the tax capacity of individual properties, to arrive at the actual tax for
each property. The County Auditor also collects all special assessments, except for certain
prepayments paid directly to the City.
The County Auditor submits the list of taxes and special assessments to be collected on each
parcel of property to the County Treasurer in January of each year.
3. Inventory and Prepaid Items
Certain payments to vendors reflect costs applicable to future accounting periods and are
recorded as prepaid items in both government -wide and fund financial statements. Prepaid items
are recorded as expenditures at the time of consumption. Inventory is valued at cost using the
first in, first out (FIFO) method.
4. Capital Assets
Capital assets, which include property, plant, equipment, and infrastructure assets (e.g., roads,
sidewalks, and similar items), are reported in the applicable governmental or business -type
activities columns in the government-wide financial statements. Capital assets are defined by the
City as assets with an initial, individual cost of more than $10,000, $25,000 for infrastructure,
and an estimated useful life in excess of three years. Such assets are recorded at historical cost
or estimated historical cost if purchased or constructed. Donated capital assets are recorded at
acquisition value at the date of donation.
The costs of normal maintenance and repairs that do not add to the value of the asset or
materially extend assets' lives are not capitalized.
Property, plant, and equipment of the City are depreciated using the straight -line full year
convention method over the following estimated useful lives:
Land improvements 5 - 20
Buildings 30 - 40
Building improvements 15
Infrastructure 10 - 50
Sewer rights 20 - 50
Furniture and fixtures 5 - 10
Vehicles 5 - 20
Equipment 3 - 7
Machinery 5 - 7
YearsAssets
City of St. Joseph
Notes to Basic Financial Statements
50
NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
D. Assets, Liabilities, Deferred Outflows/ Inflows of Resources, and Net Position or Equity
(Continued)
5. Lease Receivable
The City is a lessor for numerous noncancellable leases. The City recognizes a lease receivable and a
deferred inflow of resources in the government -wide and governmental fund financial statements.
At the commencement of a lease, the City measures the lease receivable at the present value of
payments expected to be received during the lease term. Subsequently, the lease receivable is
reduced by the principal portion of lease payments received. The deferred inflow of resources is
initially measured as the initial amount of the lease receivable, adjusted for lease payments received
at or before the lease commencement date.
Subsequently, the deferred inflow of resources is recognized as revenue over the life of the lease
term in a systematic and rational manner.
Key estimates and judgments include how the City determines (1) the discount rate, (2) lease term,
(3) lease receipts, and (4) amortization.
The City determines the discount rate for leases based on the applicable State and Local Government
Securities (SLGS) rate. The lease term includes the noncancellable period of the lease. Lease receipts
included in the measurement of the lease receivable is composed of fixed payments from the lessee.
6. Deferred Outflows/ Inflows of Resources
In addition to assets, the statement of financial position will sometimes report a separate section
for deferred outflows of resources. This separate financial statement element represents a
consumption of net assets that applies to future periods and so will not be recognized as an
outflow of resources (expense/expenditure) until that time. The City presents deferred outflows
of resources on the Statements of Net Position for deferred outflows of resources related to
pensions for various estimate differences that will be amortized and recognized over future
years.
In addition to liabilities, the statement of financial position and fund financial statements will
sometimes report a separate section for deferred inflows of resources. This separate financial
statement element represents an acquisition of net assets that applies to future periods and so
will not be recognized as an inflow of resources (revenue) until that time. The City has four items
that qualify for reporting in this category. The City presents deferred inflows of resources on the
Governmental Fund Balance Sheet as unavailable revenue. The governmental funds report
unavailable revenues from four sources: property taxes, special assessments, lease receivable,
and state shared taxes. These amounts are deferred and recognized as an inflow of resources in
the period that the amounts become available. The City presents deferred inflows of resources
on the Statements of Net Position for deferred inflows of resources related to pensions for
various estimate differences that will be amortized and recognized over future years. The City
presents deferred inflows of resources on the Statements of Net Position for the deferred charge
on refunding. A deferred charge on refunding results from the difference in the carrying value of
refunded debt and reacquisition price. Deferred inflows of resources related to lease receivable
is reported in both the government -wide Statement of Net Position and the Governmental Funds
Balance Sheet.
City of St. Joseph
Notes to Basic Financial Statements
51
NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
D. Assets, Liabilities, Deferred Outflows/ Inflows of Resources, and Net Position or Equity
(Continued)
7. Compensated Absences
The City compensates employees who leave City service in good standing for all earned, unused
vacation. Employees can accrue up to 200 hours of vacation depending on years of service. The
maximum amount of carryover from year-to-year is 100 hours or the amount of the current
vacation accrual rate. In addition, employees are compensated for unused sick leave (up to a
maximum of 720 hours or 960 hours for LELS and AFSCME employees) at various rates depending
on the employee type and years of service, provided the City 's notice of termination policy has
been complied with.
8. Long-Term Obligations
In the government-wide financial statements and proprietary fund types in the fund financial
statements, long-term debt and other long-term obligations are reported as liabilities in the
applicable governmental activities, business -type activities, or proprietary fund type Statement
of Net Position. Bond premiums and discounts are deferred and amortized over the life of the
bonds using the effective interest method.
In the fund financial statements, governmental fund types recognize bond premiums and
discounts, as well as bond issuance costs, during the current period. The face amount of debt
issued is reported as other financing sources. Premiums received on debt issuances are reported
as other financing sources while discounts on debt issuances are reported as other financing uses.
Issuance costs, whether or not withheld from the actual debt proceeds received, are reported as
debt service expenditures.
9. Pensions
For purposes of measuring the net pension liability, deferred outflows/inflows of resources, and
pension expense, information about the fiduciary net position of the Public Employees
Retirement Association (PERA) and the relief association and additions to/deductions from PERA 's
and the relief association's fiduciary net position have been determined on the same basis as they
are reported by PERA and the relief association except that PERA 's fiscal year end is June 30. For
this purpose, plan contributions are recognized as of employer payroll paid dates and benefit
payments and refunds are recognized when due and payable in accordance with the benefit
terms. Investments are reported at fair value.
10. Fund Equity
a) Classification
In the fund financial statements, governmental funds report fund classifications that comprise
a Hierarchy based primarily on the extent to which the City is bond to honor constraints on
the specific purpose for which amounts in those funds can be spent.
Nonspendable Fund Balances – These are amounts that cannot be spent because they are
not in spendable form as they are legally or contractually required to be maintained intact
and include amounts set aside for prepaid items.
City of St. Joseph
Notes to Basic Financial Statements
52
NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
D.Assets, Liabilities, Deferred Outflows/ Inflows of Resources, and Net Position or Equity
(Continued)
10. Fund Equity (Continued)
a)Classification (Continued)
Restricted Fund Balances – These are amounts that are restricted to specific purposes
either by a) constraints placed on the use of resources by creditors, grantors,
contributors, or laws or regulations of other governments, or b) imposed by law through
enabling legislation.
Committed Fund Balances – These are amounts that can only be used for specific purposes
pursuant to constraints imposed by the City Council (highest level of decision making
authority) through resolution. The City Council must also pass a resolution to remove the
constraint of committed resources.
Assigned Fund Balances – These are amounts that are constrained by the City 's intent to be
used for specific purposes but are neither restricted nor committed. Assignments are
made by the City's Finance Director based on the City Council's direction.
Unassigned Fund Balances – These are residual amounts in the General Fund not reported
in any other classification. The General Fund is the only fund that can report a positive
unassigned fund balance. Other funds would report a negative unassigned fund balance
should the total of nonspendable, restricted, committed, and assigned fund balances
exceed the total net resources of that fund.
When both restricted and unrestricted resources are available for use, it is the City 's policy to
first use restricted resources and then use unrestricted resources as they are needed. When
committed, assigned, and unassigned resources are available for use, it is the City 's policy to
use resources in the following order: committed, assigned, and unassigned.
b)Minimum Fund Balance
The City's target General Fund balance is to maintain working capital, a portion of the
unassigned balance, in the amount of four to six months of the next year 's budgeted
expenditures of the General Fund.
City of St. Joseph
Notes to Basic Financial Statements
53
NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
D. Assets, Liabilities, Deferred Outflows/ Inflows of Resources, and Net Position or Equity
(Continued)
11. Net Position
Net position represents the difference between assets, deferred outflows of resources, liabilities,
and deferred inflows of resources in the government -wide financial statements. Net investment
in capital assets consists of capital assets, net of accumulated depreciation, reduced by the
outstanding balance of any long -term debt used to build or acquire the capital assets. A
reclassification of $2,295,023 between this net position class and unrestricted net position in the
total column of the Statement of Net Position to recognize the portion of debt attributable to
capital assets donated from governmental activities to business -type activities. Net position is
reported as restricted in the government -wide financial statement when there are limitations on
use through external restrictions imposed by creditors, grantors, or laws or regulations of other
governments. The restricted for other purposes restriction of net position for governmental
activities of $4,711,520 includes $6,193 PEG Access Fees, $85,619 for tax increment financing,
$1,708,874 in state collected sales tax restricted by enabling legislation, $27,103 restricted for
lodging tax, $501,330 in park dedication fees, $766 restricted by donors for future projects,
Community Center construction $451,200, $58,643 DEED Funds, $96,715 in revolving loan funds
restricted for EDA projects, $658,919 restricted for fire service, $981,577 for unused MSA funds
and $134,581 for unused public safety aid funds.
12. Use of Estimates
The preparation of financial statements in conformity with accounting principles generally
accepted in the United States of America requires management to make estimates and
assumptions that affect the reported amounts of assets and liabilities and disclosure of
contingent assets and liabilities at the date of the financial statements. Estimates also affect the
reported amounts of revenues and expenditures/expenses during the reporting period. Actual
results could differ from those estimates.
E. Budgetary Information
1. In August of each year, City staff submits to the City Council, a proposed operating budget for
the year commencing the following January 1. The operating budget includes proposed
expenditures and the means of financing them for the upcoming year.
2. Public hearings are conducted to obtain taxpayer comments.
3. The budget is legally enacted through passage of a resolution after obtaining taxpayer
comments.
4. Budgets are adopted on a basis consistent with accounting principles generally accepted in
the United States of America.
5. Expenditures may not legally exceed budgeted appropriations at the department level. No
fund's budget can be increased without City Council approval. The City Council may authorize
transfer of budgeted amounts between departments within any fund. Management may
amend budgets within a department level, so long as the total department budget is not
changed.
City of St. Joseph
Notes to Basic Financial Statements
54
NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
E. Budgetary Information (Continued)
6. Annual appropriated budgets are adopted during the year for the General Fund and the
Economic Development Authority, State Collected Sales Tax, Park Dedication, and Fire special
revenue funds and debt service funds. Budgetary control for the remaining special revenue
fund is done through the use of project controls when the council authorizes the project.
Budgetary control for Capital Projects Funds is accomplished through the use of project
controls and formal appropriated budgets are not adopted.
7. Budgeted amounts are as originally adopted by the City Council. Budgeted expenditure
appropriations lapse at year-end.
Encumbrances outstanding at year-end expire and outstanding purchase orders are canceled and not
reported in the financial statements.
NOTE 2 – STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY
A. Deficit Fund Balance
The following fund had a deficit fund balance at December 31, 2024.
Nonmajor governmental funds
Special Revenue
TIF 2-3 Bayou Blues/Alley Flat 954$
This deficit will be eliminated with future tax increment revenues .
NOTE 3 – DEPOSITS AND INVESTMENTS
Cash balances of the City's funds are combined (pooled) and invested to the extent available in
various investments authorized by Minnesota Statutes. Each fund's portion of this pool (or pools) is
displayed in the financial statements as "cash and cash equivalents" or "investments." For purposes of
identifying risk of investing public funds, the balances and related restrictions are summarized as
follows.
A. Deposits
Custodial Credit Risk – Deposits: This is the risk that in the event of a bank failure, the City 's
deposits may not be returned to it. The City has a policy that requires the City's deposits be
collateralized as required by Minnesota Statutes for an amount exceeding FDIC, SAIF, BIF, or FCUA
coverage. As of December 31, 2024 , the City's bank balance was not exposed to custodial credit risk
because it was fully insured through the FDIC or NCUA and fully collateralized with securities held by
the pledging financial institutions trust department or agent and in the City 's name. As of
December 31, 2024, the City's deposits had a carrying value as shown as follows:
Certificates of deposits 10,257,610$
Checking (182,215)
Savings 2,839,908
Total 12,915,303$
City of St. Joseph
Notes to Basic Financial Statements
55
NOTE 3 – DEPOSITS AND INVESTMENTS (CONTINUED)
B. Investments
As of December 31, 2024, the City had the following investments:
Weighted
Fair Average Moody's
Investment Type Value Maturity (Years)Rating
Brokered money market 403,525$ N/A N/A
Brokered bond securities 10,688,632 2.3 Aa2 to Aaa
4M Funds 1,991,032 N/A N/A
Total 13,083,189$
Credit Risk: Credit risk is the risk that an issuer or other counterparty to an investment will not
fulfill its obligations. Minnesota Statutes §§ 118A.04 and 118A.05 limit investments based on rating
level and investment type. The City's investment policy limits the allowable investments in
accordance with these statutes. As of December 31, 2024 , the City's investments were rated as listed
in the table above.
Interest Rate Risk: The City should try to minimize the risk that arises from over investing in specific
instruments, individual financial institutions, or maturities. The City 's investment policy states the
investment portfolio will be structured so that securities mature to meet cash flow requirements and
avoiding the need to sell securities prior to maturity, investing in short -term securities, investing in
long-term securities if the market rate is favorable.
Concentration of Credit Risk : Investments should be diversified to avoid incurring unreasonable risks
inherent in over investing in specific instruments, individual financial institutions, or maturities. The
City's investment policy states the City will attempt to diversify its investments according to type,
issuer, and maturity. The portfolio, as much as possible, will contain both short -term and long-term
investments. The City will attempt to match its investments with anticipated cash flow
requirements. Extended maturities may be utilized to take advantage of higher yields. No more than
20% of the total investments should extend beyond five years and the weighted average maturity of
the portfolio shall never exceed five years. As of December 31, 2024, none of the City's investments
exceed 5% of the investment portfolio.
Custodial Credit Risk – Investments: This is the risk that in the event of the failure of the
counterparty, the City will not be able to recover the value of its investments or collateral securities
that are in the possession of an outside party. The City 's investment policy addresses this risk and
states the City will permit investments only to the extent that there is Securities Investor Protection
Corporation (SIPC) and excess SIPC coverage available.
The City has the following recurring fair value measurements as of December 31, 202 4:
• $680,041 of investments are valued using a quoted market price (Level 1 inputs).
• $10,875,200 of investments are valued using a matrix pricing model (Level 2 inputs).
City of St. Joseph
Notes to Basic Financial Statements
56
NOTE 3 – DEPOSITS AND INVESTMENTS (CONTINUED)
C. Deposits and Investments
The following is a summary of deposits and investments as of December 31, 2024:
Deposits (Note 3.A.)12,915,303$
Investments (Note 3.B.)13,083,189
Petty cash 200
Total 25,998,692$
Deposits and investments are presented in the December 31, 2024, basic financial statements as
follows:
Statement of Net Position
Cash and investments 25,998,692$
Total deposits and investments 25,998,692$
NOTE 4 – LEASE RECEIVABLE
The City has a Site lease agreement with Verizon Wireless for certain real property located at 3563
County Road 136, in the City of St. Joseph. This lease was originally entered into on June 12, 2009,
with the currently signed amendment extension term ending January 31, 2029. Total rent income
earned from this lease was $20,387 for the year ended December 31, 202 4. The net present value of
future lease payments has been recorded as a lease receivable and a deferred inflow of resources,
discounted at a 3% discount rate and had an ending balance, at June 30, 202 4, of $83,247. The
revenue will be recognized in future years.
NOTE 5 – INTERFUND BALANCES AND TRANSFERS
A. Interfund Balances
The composition of interfund balances as of December 31, 2024 , is as follows:
Amounts Due
to Other
Funds
Amounts Due from Other Funds
Other
Governmental
Funds
Other Governmental Funds 1,300$
The due from/due to other funds balances represent loans made to cover tax increment financing
(TIF) consulting costs to establish the TIF districts.
City of St. Joseph
Notes to Basic Financial Statements
57
NOTE 5 – INTERFUND BALANCES AND TRANSFERS (CONTINUED)
B. Transfers
The composition of interfund transfers as of December 31, 2024, is as follows:
Transfer In Transfer Out Description Amount
General Fund Community Center Transfer to cover management costs 577,500$
General Fund Other Governmental Funds Transfer to close fund 14,870
General Fund Other Governmental Funds Transfer for street projects costs 17,985
General Fund Water Transfer retirement reserve funding 2,950
General Fund Sanitary Sewer Transfer for employee insurance benefits 2,850
General Fund Refuse Transfer retirement reserve funding 35
General Fund Storm Water Transfer retirement reserve funding 165
G.O. Improvement Bonds of 2016B Other Governmental Funds Transfer sales tax revenue committed for
bond payment 5,000
Other Governmental Funds General Fund Transfer debt relief funds for trail repairs 120,000
Other Governmental Funds General Fund Transfer to cover negative cash 165
Other Governmental Funds General Fund Transfer to cover negative cash 1,225
Other Governmental Funds General Fund Transfer to cover negative cash 75
Other Governmental Funds Other Governmental Funds Transfer for future projects 10,000
Other Governmental Funds Other Governmental Funds Transfer for Joe Town Blocks 9,000
Other Governmental Funds Other Governmental Funds Transfer for bond payment 89,200
Other Governmental Funds Other Governmental Funds Transfer to close fund 1,684
Other Governmental Funds Other Governmental Funds Transfer for bond payment 445,000
Other Governmental Funds Water Annual transfer for debt payments 2,510
Other Governmental Funds Sanitary Sewer Annual transfer for debt payments 19,730
Other Governmental Funds Storm Water Annual transfer for debt payments 17,430
Water Other Governmental Funds Transfer WAC fees for debt payment 160,000
Water Sanitary Sewer Annual transfer for debt payments 5,000
Sanitary Sewer Other Governmental Funds Annual transfer for debt payments 72,500
Refuse General Fund Transfer for compost site operations 11,350
Total 1,586,224$
City of St. Joseph
Notes to Basic Financial Statements
58
NOTE 6 – CAPITAL ASSETS
Capital asset activity for the year ended December 31, 2024, was as follows:
Beginning Ending
Balance Increases Decreases Balance
Governmental activities
Capital assets not being depreciated
Land 762,197$ -$ -$ 762,197$
Easements 331,093 108,900 - 439,993
Construction in progress 2,091,427 1,726,659 1,603,475 2,214,611
Total capital assets
not being depreciated 3,184,717 1,835,559 1,603,475 3,416,801
Capital assets being depreciated
Buildings 7,421,043 - - 7,421,043
Infrastructure 27,912,714 1,470,786 - 29,383,500
Improvements 1,485,284 10,431 30,425 1,465,290
Intangible assets 200,000 - - 200,000
Machinery and equipment 5,922,607 526,875 167,540 6,281,942
Total capital assets
being depreciated 42,941,648 2,008,092 197,965 44,751,775
Less accumulated depreciation for
Buildings 1,978,021 189,722 - 2,167,743
Infrastructure 19,802,383 882,522 - 20,684,905
Improvements 838,668 55,051 29,607 864,112
Intangible assets 70,000 10,000 - 80,000
Machinery and equipment 3,654,503 653,805 165,289 4,143,019
Total accumulated
depreciation 26,343,575 1,791,100 194,896 27,939,779
Total capital assets being
depreciated, net 16,598,073 216,992 3,069 16,811,996
Governmental activities capital
assets, net 19,782,790$ 2,052,551$ 1,606,544$ 20,228,797$
City of St. Joseph
Notes to Basic Financial Statements
59
NOTE 6 – CAPITAL ASSETS (CONTINUED)
Beginning Ending
Balance Increases Decreases Balance
Business-type activities
Capital assets not being depreciated
Land 377,882$ -$ -$ 377,882$
Easements 67,915 - - 67,915
Construction in progress 516,009 729,900 383,026 862,883
Total capital assets
not being depreciated 961,806 729,900 383,026 1,308,680
Capital assets being depreciated
Buildings 8,797,686 - - 8,797,686
Improvements other than buildings 315,193 - - 315,193
Plant and lines 28,511,969 383,969 - 28,895,938
Machinery and equipment 1,310,028 19,428 20,981 1,308,475
Sewer rights 10,977,565 - 1,797,155 9,180,410
Total capital assets
being depreciated 49,912,441 403,397 1,818,136 48,497,702
Less accumulated depreciation for
Buildings 3,467,102 214,141 - 3,681,243
Improvements other than buildings 86,928 17,031 - 103,959
Plant and lines 9,884,220 583,694 - 10,467,914
Machinery and equipment 939,685 94,992 20,981 1,013,696
Sewer rights 3,653,350 256,053 324,049 3,585,354
Total accumulated
depreciation 18,031,285 1,165,911 345,030 18,852,166
Total capital assets being
depreciated, net 31,881,156 (762,514) 1,473,106 29,645,536
Business-type activities captial
assets, net 32,842,962$ (32,614)$ 1,856,132$ 30,954,216$
City of St. Joseph
Notes to Basic Financial Statements
60
NOTE 6 – CAPITAL ASSETS (CONTINUED)
Depreciation expense was charged to functions/programs of the City as follows:
Government Activities
General government 159,618$
Public safety 254,001
Public works 1,154,619
Culture and recreation 222,644
Economic development 218
Total depreciation expense - governmental activities 1,791,100$
Business-Type Activities
Water 465,903$
Sanitary sewer 530,188
Refuse 3,198
Storm sewer 166,622
Total depreciation expense - business-type activities 1,165,911$
NOTE 7 – LONG-TERM DEBT
A.General Obligation Bonds
The City issues General Obligation (G.O.) bonds to provide for financing improvement, development,
and street improvement projects.
G.O. bonds are direct obligations and pledge the full faith and credit of the City. These bonds
generally are issued as 5 to 20 year serial bonds with equal debt service payments each year .
Revenue bonds are issued by the City where the City pledges income derived from the acquired or
constructed assets to pay debt service including access and trunk charges and utility user fees.
City of St. Joseph
Notes to Basic Financial Statements
61
NOTE 7 – LONG-TERM DEBT (CONTINUED)
B. Components of Long -Term Liabilities
Issue Interest Original Final Principal Due Within
Date Rate Issue Maturity Outstanding One Year
Governmental Activities
G.O. Bonds, including Refunding Bonds
G.O. Capital Improvement Plan 2016A 07/07/16 2.00%-2.875%4,275,000$ 12/15/36 2,775,000$ 205,000$
G.O. Certificates of Indebtedness 2020A 03/05/20 1.45%220,000 12/15/25 45,000 45,000
G.O. Captial Improvement Plan 2020B 11/12/20 0.40%-2.00%690,000 12/15/33 510,000 60,000
G.O. Certificates of Indebtedness 2022A 08/30/22 4.00%660,000 12/15/31 540,000 70,000
G.O. Certificates of Indebtedness 2023A 10/17/23 4.00%-5.00%440,000 12/15/28 360,000 85,000
Total G.O. Bonds 4,230,000 465,000
G.O. Special Assessment Bonds
G.O. Improvement Bonds of 2016B 11/03/16 1.00%-3.00%740,000 12/15/32 390,000 50,000
G.O. Improvement Bonds of 2019A 09/12/19 4.00%-5.00%3,705,000 12/15/29 1,835,000 370,000
G.O. Improvement Bonds of 2020B 11/12/20 0.40%-2.00%625,000 12/15/31 430,000 65,000
Taxable G.O. Crossover Refunding
Bonds, Series 2020C 11/12/20 0.40%-1.60%1,365,000 12/01/30 925,000 150,000
G.O. Improvement Bonds of 2021A 09/14/21 2.00%-4.00%3,190,000 12/15/36 2,410,000 260,000
G.O. Improvement Bonds of 2022A 08/30/22 4.00%620,000 12/15/32 490,000 65,000
G.O. Improvement Bonds of 2023A 10/17/23 4.00%-5.00%1,930,000 12/15/33 1,745,000 190,000
G.O. Improvement Bonds of 2024A 09/18/24 4.00%-4.20%977,000 12/15/34 977,000 98,000
Total G.O. Special
Assessment Bonds 9,202,000 1,248,000
G.O. Abatement Bonds
G.O. Tax Abatement Bonds of 2022A 08/30/22 4.00%6,125,000 12/15/42 5,770,000 225,000
Unamortized premiums/discounts 906,569 -
Compensated absences 589,633 195,921
Total long-term liabilities,
governmental activities 20,698,202$ 2,133,921$
City of St. Joseph
Notes to Basic Financial Statements
62
NOTE 7 – LONG-TERM DEBT (CONTINUED)
B. Components of Long -Term Liabilities (Continued)
Issue Interest Original Final Principal Due Within
Date Rate Issue Maturity Outstanding One Year
Business-Type Activities
G.O. Revenue Bonds
G.O. Sewer Refunding Bonds of 2020B 11/12/20 0.40%-2.00%1,045,000$ 12/15/28 540,000$ 130,000$
Taxable G.O. Crossover Refunding
Bonds, Series 2020C 11/12/20 0.40%-1.90%445,000 12/01/32 325,000 40,000
G.O. Water Revenue Refunding Bonds 2021A 09/14/21 4.00%2,185,000 12/15/28 790,000 515,000
Total G.O. Revenue Bonds 1,655,000 685,000
Notes from direct borrowing
Utility Revenue Notes Payable
City of St. Cloud SIS
Phase 4 (2013B Bonds)11/01/13 3.00%-4.00%650,000 02/01/29 260,000 50,000
City of St. Cloud RUE Project PFA Loan 08/01/10 1.77%4,527,703 08/20/30 1,150,853 183,511
08/24/16 1.00%469,263 08/20/26 104,181 51,860
City of St. Cloud NR2 Biosolids 10/09/17 1.10%1,744,736 08/20/37 882,122 63,495
City of St. Cloud Forcemain Replacement 10/01/24 1.88%2,085,245 08/20/44 607,914 46,433
Total notes from direct borrowing 3,005,070 395,299
Unamortized premium 75,930 -
Compensated absences 173,175 43,717
Total business-type activities 4,909,175 1,124,016
Total all long-term liabilities 25,607,377$ 3,257,937$
City of St. Cloud Lift Station
Improvements
Long-term bonded indebtedness listed on the previous page and above were issued to finance
acquisition and construction of capital assets or to refinance (refund) previous bond issues.
City of St. Joseph
Notes to Basic Financial Statements
63
NOTE 7 – LONG-TERM DEBT (CONTINUED)
C. Changes in Long-Term Liabilities
Long-term liability activity for the year ended December 31, 2024, was as follows:
Beginning Ending
Balance Additions Reductions Balance
Governmental activities
Bonds payable
General obligation 4,680,000$ -$ 450,000$ 4,230,000$
G.O. Special Assessment Bonds 9,415,000 977,000 1,190,000 9,202,000
G.O. Abatement Bonds 5,985,000 - 215,000 5,770,000
Total bonds payable 20,080,000 977,000 1,855,000 19,202,000
Unamortized premiums/discounts 1,081,138 - 174,569 906,569
Compensated absences 635,770 421,631 467,768 589,633
Total governmental
activities 21,796,908$ 1,398,631$ 2,497,337$ 20,698,202$
Beginning Ending
Balance Additions Reductions Balance
Business-type activities
Bonds payable
G.O. Utility Revenue Bonds 2,320,000$ -$ 665,000$ 1,655,000$
Note from direct borrowing
City of St. Cloud notes 3,567,137 607,914 1,169,981 3,005,070
Unamortized premiums 120,474 - 44,544 75,930
Compensated absences 152,659 99,578 79,062 173,175
Total business-type
activities 6,160,270 707,492 1,958,587 4,909,175
Total long-term liabilities 27,957,178$ 2,106,123$ 4,455,924$ 25,607,377$
City of St. Joseph
Notes to Basic Financial Statements
64
NOTE 7 – LONG-TERM DEBT (CONTINUED)
D. Minimum Debt Payments
Minimum annual principal and interest payments required to retire long -term liabilities:
Year Ended
December 31,Principal Interest Principal Interest
2025 465,000$ 116,295$ 1,248,000$ 338,164$
2026 430,000 103,293 1,243,000 280,139
2027 440,000 91,493 1,233,000 233,519
2028 440,000 78,493 1,233,000 185,217
2029 355,000 65,343 1,233,000 140,332
2030-2034 1,580,000 190,133 2,767,000 245,046
2035-2036 520,000 22,569 245,000 7,300
Total 4,230,000$ 667,619$ 9,202,000$ 1,429,717$
Year Ended
December 31,Principal Interest Total
2025 225,000$ 230,800$ 2,623,259$
2026 235,000 221,800 2,513,232
2027 245,000 212,400 2,455,412
2028 255,000 202,600 2,394,310
2029 265,000 192,400 2,251,075
2030-2034 1,480,000 795,000 7,057,179
2035-2039 1,800,000 475,000 3,069,869
2040-2042 1,265,000 102,600 1,367,600
Total 5,770,000$ 2,432,600$ 23,731,936$
Governmental Activities
Abatement Bonds
Governmental Activities
G.O. Bonds G.O. Special Assessment Bonds
City of St. Joseph
Notes to Basic Financial Statements
65
NOTE 7 – LONG-TERM DEBT (CONTINUED)
D. Minimum Debt Payments (Continued)
Year Ended
December 31,Principal Interest Principal Interest Total
2025 685,000$ 46,960$ 348,866$ 39,133$ 1,119,959$
2026 250,000 23,460 353,242 33,106 659,808
2027 270,000 17,210 304,917 26,917 619,044
2028 280,000 10,250 314,072 21,035 625,357
2029 170,000 7,845 318,152 14,896 510,893
2030-2034 - - 543,096 26,643 569,739
2035-2037 - - 214,811 4,721 219,532
Total 1,655,000$ 105,725$ 2,397,156$ 166,451$ 4,324,332$
Utility Revenue Bonds
Business-Type Activities
Notes From Direct Borrowing
The amortization schedule for the St. Cloud PFA Metro Forcemain Replacement is not available as
the loan has not been fully disbursed. Therefore, the amounts for this note are not presented in the
table above.
E. Conduit Debt
Conduit debt obligations are certain limited obligation revenue bonds or similar debt instruments
issued for the express purpose of providing capital financing for a specific third party . The City has
issued various revenue bonds to provide funding to private sector entities for projects deemed to be
in the public interest . Although these bonds bear the name of the City, the City has no obligation for
such debt. Accordingly, the bonds are not reported as liabilities in the financial statements of the
City.
At December 31, 2024, the City's outstanding conduit debt balance consisted of the following:
$21,195,000 Senior Housing and Healthcare Revenue Bonds,
Series 2019A 20,465,000$
City of St. Joseph
Notes to Basic Financial Statements
66
NOTE 8 – FUND BALANCE
Fund equity balances are classified as follows to reflect the limitations and restrictions of the
respective funds .
Nonmajor
Community Governmental
General Center Fund Total
Restricted
PEG access fees 6,193$ -$ -$ -$ 6,193$
Public safety aid 134,581 - - - 134,581
Debt service - 174,128 - 3,873,257 4,047,385
Community Center construction - - 6,051,542 - 6,051,542
Tax increments - - - 85,619 85,619
State collected sales tax projects - - - 1,708,874 1,708,874
Park dedication fees - - - 501,330 501,330
Fire services - - - 658,919 658,919
Chartitable gambling - - - 766 766
Lodging tax - - - 27,103 27,103
DEED CDAP - - - 58,643 58,643
Revolving loan - - - 96,715 96,715
Total restricted 140,774 174,128 6,051,542 7,011,226 13,377,670
Committed
Economic development - - - 626,195 626,195
Assigned
Police forfeiture 105,907 - - - 105,907
Severance pay 391,694 - - - 391,694
Capital outlay reserves 1,343,151 - - 1,438,467 2,781,618
Total assigned 1,840,752 - - 1,438,467 3,279,219
Unassigned 3,135,576 - - (954) 3,134,622
Total 5,117,102$ 174,128$ 6,051,542$ 9,074,934$ 20,417,706$
G.O.
Improvement
Bonds of
2016B
NOTE 9 – RISK MANAGEMENT
The City purchases commercial insurance coverage through the League of Minnesota Cities Insurance
Trust (LMCIT) with other cities in the state, which is a public entity risk pool currently operating as a
common risk management and insurance program. The City pays an annual premium to the LMCIT for
its insurance coverage. The LMCIT is self -sustaining through commercial companies for excess claims.
The City is covered through the pool for any claims incurred but unreported, however, retains risk
for the deductible portion of its insurance policies. The amount of these deductibles is considered
immaterial to the financial statements.
City of St. Joseph
Notes to Basic Financial Statements
67
NOTE 9 – RISK MANAGEMENT (CONTINUED)
There were no significant reductions in insurance from the previous year or settlements in excess of
insurance coverage for any of the past three years.
The City's workers' compensation insurance policy is retrospectively rated. With this type of policy,
final premiums are determined after loss experience is known . The amount of premium adjustment
for 2024 is estimated to be immaterial based on workers ' compensation rates and salaries for the
year.
At December 31, 2024, there were no other claims liabilities reported in the fund based on the
requirements of GASB Statement No. 10, which requires a liability for claims be reported if
information prior to the issuance of the financial statements indicates it is probable a liability has
been incurred at the date of the financial statements and the amount of the loss can be reasonably
estimated.
NOTE 10 – PENSION PLANS
The City participates in various pension plans. Total pension expense for the year ended
December 31, 2024, was $436,288. The components of pension expense are noted in the following
plan summaries.
For governmental activities, the General Fund typically liquidates the liability related to pensions.
For Business-Type Activities, the Water, Sanitary Sewer, Refuse, Storm Water, and Street Light
Utility Funds typically liquidate the liability related to pensions.
Public Employees' Retirement Association
A. Plan Description
The City participates in the following cost -sharing multiple-employer defined benefit pension plans
administered by PERA. PERA's defined benefit pension plans are established and administered in
accordance with Minnesota Statutes Chapters 353, 353D, 353E, 353G, and 356. Minnesota Statutes
Chapter 356 defines each plan 's financial reporting requirements. PERA's defined benefit pension
plans are tax qualified plans under Section 401(a) of the Internal Revenue Code.
General Employees Retirement Plan
Membership in the General Plan includes employees of counties, cities, townships, schools in non -
certified positions, and other governmental entities whose revenues are derived from taxation, fees,
or assessments. Plan membership is required for any employee who is expected to earn more than
$425 in a month, unless the employee meets exclusion criteria.
Public Employees Police and Fire Plan
Membership in the Police and Fire Plan includes full -time, licensed police officers and firefighters
who meet the membership criteria defined in Minnesota Statutes § 353.64 and who are not earning
service credit in any other PERA retirement plan or a local relief association for the same service.
Employers can provide Police and Fire Plan coverage for part -time positions and certain other public
safety positions by submitting a resolution adopted by the City 's governing body. The resolution must
state that the position meets plan requirements.
City of St. Joseph
Notes to Basic Financial Statements
68
NOTE 10 – PENSION PLANS (CONTINUED)
Public Employees' Retirement Association (Continued)
B.Benefits Provided
PERA provides retirement, disability, and death benefits. Benefit provisions are established by state
statute and can only be modified by the state Legislature. Vested, terminated employees who are
entitled to benefits, but are not receiving them yet, are bound by the provisions in effect at the time
they last terminated their public service. When a member is vested, they have earned enough
service credit to receive a lifetime monthly benefit after leaving public service and reaching an
eligible retirement age. Members who retire at or over their Social Security full retirement age with
at least one year of service qualify for a retirement benefit.
General Employees Plan Benefits
General Employees Plan requires three years of service to vest . Benefits are based on a member's
highest average salary for any 5 successive years of allowable service, age, and years of credit at
termination of service. Two methods are used to compute benefits for General Plan members.
Members hired prior to July 1, 1989, receive the higher of Step or Level formulas. Only the Level
formula is used for members hired after June 30, 1989. Under the Step formula, General Plan
members receive 1.2% of the highest average salary for each of the first 10 years of service and 1.7%
for each additional year. Under the Level formula, General Plan members receive 1.7% of the highest
average salary for all years of service. For members hired prior to July 1, 1989, a full retirement
benefit is available when age plus years of service equal 90 and normal retirement age is 65.
Members can receive a reduced requirement benefit as early as age 55 if they have three or more
years of service. Early retirement benefits are reduced by .25% for each month under age 65.
Members with 30 or more years of service can retire at any age with a reduction of .25% for each
month the member is younger than age 62. The Level formula allows General Plan members to
receive a full retirement benefit at age 65 if they were first hired before July 1, 1989 or a t age 66 if
they were hired on or after July 1, 1989. Early retirement begins at age 55 with an actuarial
reduction applied to the benefit.
Benefit increases are provided to benefit recipients each January. The postretirement increase is
equal to 50% of the cost-of-living adjustment (COLA) announced by the SSA, with a minimum increase
of at least 1% and a maximum of 1.5%. The 2024 annual increase was 1.5%. Recipients that have been
receiving the annuity or benefit for at least a full year as of June 30 before the effective date of the
increase will receive the full increase. Recipients receiving the annuity or benefit for at least one
month but less than a full year as of the June 30 before the effective date of the increase will
receive a reduced prorated increase .
Police and Fire Plan Benefits
Benefits for the Police and Fire Plan members hired before July 1, 2010, are vested after three years
of service. Members hired on or after July 1, 2010, are 50% vested after five years of service and
100% vested after 10 years. After five years, vesting increases by 10% each full year of service until
members are 100% vested after 10 years. Police and Fire Plan members receive 3% of highest average
salary for all years of service. Police and Fire Plan members receive a full retirement benefit when
they are 55 and vested, or when their age plus their years of service equals 90 or greater if they
were first hired before July 1, 1989. Early retirement starts at age 50, and early retirement benefits
are reduced by 0.417% each month members are younger than age 55.
City of St. Joseph
Notes to Basic Financial Statements
69
NOTE 10 – PENSION PLANS (CONTINUED)
Public Employees' Retirement Association (Continued)
Police and Fire Plan Benefits (Continued)
Benefit increases are provided to benefit recipients each January. The post-retirement increase is
fixed at 1%. Recipients that have been receiving the annuity or benefit for at least 36 months as of
June 30 before the effective date of the increase will receive the full increase. Recipients receiving
the annuity or benefit for at least 25 months but less than 36 months as of June 30 before the
effective date of the increase will receive a reduced prorated increase.
C. Contributions
Minnesota Statutes Chapter 353, 353E, 353G, and 356 set the rates for employer and employee
contributions. Contribution rates can only be modified by the state Legislature.
General Employees Fund Contributions
General Plan members were required to contribute 6.5% of their annual covered salary in fiscal year
2024, and the City was required to contribute 7.5% for General Plan members. The City 's
contributions to the General Employees Fund for the year ended December 31, 202 4, were $120,298.
The City's contributions were equal to the required contributions as set by state statute.
Police and Fire Fund Contributions
Police and Fire Plan members were required to contribute 11.8% of their annual covered salary in
fiscal year 2024 and the City was required to contribute 17.7% for Police and Fire Plan members. The
City's contributions to the Police and Fire Fund for the year ended December 31, 2024, were
$196,031. The City's contributions were equal to the required contributions as set by state statute.
D. Pension Costs
General Employees Fund Pension Costs
At December 31, 2024, the City reported a liability of $686,759 for its proportionate share of the
General Employees Fund 's net pension liability. The City's net pension liability reflected a reduction
due to the State of Minnesota's contribution of $16 million. The State of Minnesota is considered a
non-employer contributing entity and the State's contribution meets the definition of a special
funding situation. The State of Minnesota's proportionate share of the net pension liability associated
with the City totaled $17,758.
City's proportionate share of the net pension liability 686,759$
State of Minnesota's proportionate share of the net pension
liability associated with the City 17,758
Total 704,517$
City of St. Joseph
Notes to Basic Financial Statements
70
NOTE 10 – PENSION PLANS (CONTINUED)
Public Employees' Retirement Association (Continued)
D. Pension Costs (Continued)
General Employees Fund Pension Costs (Continued)
The net pension liability was measured as of June 30, 2024, and the total pension liability used to
calculate the net pension liability was determined by an actuarial valuation as of that date. The
City's proportionate share of the net pension liability was based on the City 's contributions received
by PERA during the measurement period for employer payroll paid dates from July 1, 2023, through
June 30, 2024, relative to the total employer contributions received from all of PERA 's participating
employers. The City's proportionate share was 0.0186% at the end of the measurement period and
0.0167% for the beginning of the period .
For the year ended December 31, 2024, the City recognized pension expense of $1 09,783 for its
proportionate share of General Employees Plan's pension expense. Included in the amount, the City
recognized $476 as pension expense (and grant revenue) for its proportionate share of the State of
Minnesota's contribution of $16 million to the General Employees Fund.
During the plan year ended June 30, 2024, the State of Minnesota contributed $170.1 million to the
General Employees Fund. The State of Minnesota is not included as a non -employer contributing
entity in the General Employees Plan pension allocation schedule for the $170.1 million in direct
state aid because this contribution was not considered to meet the definition of a special funding
situation. The City recognized $31,599 for the year ended December 31, 2024, as revenue and an
offsetting reduction of net pension liability for its proportionate share of the State of Minnesota 's on-
behalf contributions to the General Employees Fund.
At December 31, 2024, the City reported its proportionate share of the General Employees Plan 's
deferred outflows of resources and deferred inflows of resources related to pensions from the
following sources:
Differences between expected and actual economic experience 62,151$ -$
Changes in actuarial assumptions 2,798 240,752
Net difference between projected and actual investment
earnings - 202,610
Changes in proportion 129,422 -
Contributions paid to PERA subsequent to the measurement
date 60,149 -
Total 254,520$ 443,362$
Deferred
Outflows of
Resources
Deferred
Inflows of
Resources
City of St. Joseph
Notes to Basic Financial Statements
71
NOTE 10 – PENSION PLANS (CONTINUED)
Public Employees' Retirement Association (Continued)
D. Pension Costs (Continued)
General Employees Fund Pension Costs (Continued
The $60,149 reported as deferred outflows of resources related to pensions resulting from City
contributions subsequent to the measurement date will be recognized as a reduction of the net
pension liability in the year ended December 31, 2025. Other amounts reported as deferred outflows
and deferred inflows of resources related to pensions will be recognized in pension expense as
follows:
Pension
Year Ended Expense
December 31,Amount
2025 (142,316)$
2026 1,594
2027 (55,633)
2028 (52,636)
Total (248,991)$
Police and Fire Fund Pension Costs
At December 31, 2024, the City reported a liability of $998,794 for its proportionate share of the
Police and Fire Fund's net pension liability. The net pension liability was measured as of June 30,
2024, and the total pension liability used to calculate the net pension liability was determined by an
actuarial valuation as of that date. The City 's proportionate share of the net pension liability was
based on the City's contributions received by PERA during the measurement period for employer
payroll paid dates from July 1, 2023, through June 30, 2024, relative to the total employer
contributions received from all of PERA's participating employers. The City's proportionate share was
0.0759% at the end of the measurement period and 0.0673% for the beginning of the period.
City of St. Joseph
Notes to Basic Financial Statements
72
NOTE 10 – PENSION PLANS (CONTINUED)
Public Employees' Retirement Association (Continued)
D. Pension Costs (Continued)
Police and Fire Fund Pension Costs (Continued)
The State of Minnesota contributed $37.4 million to the Police and Fire Fund in the plan fiscal year
ended June 30, 2024. The contribution consisted of $9 million in direct state aid that meets the
definition of a special funding situation , additional one-time direct state aid contribution of $19.4
million, and $9 million in supplemental state aid that does not meet the definition of a special
funding situation. Additionally, $9 million supplemental state aid was paid on October 1, 2024.
Thereafter, by October 1 of each year, the State will pay $9 million to the Police and Fire Fund until
full funding is reached or July 1, 2048, whichever is earlier. The $9 million in supplemental state aid
will continue until the fund is 90% funded, or until the State Patrol Plan (administered by the
Minnesota State Retirement System) is 90% funded, whichever occurs later. The State of Minnesota's
proportionate share of the net pension liability associated with the City totaled $38,074.
City's proportionate share of the net pension liability 998,794$
State of Minnesota's proportionate share of the net pension
liability associated with the City 38,074
Total 1,036,868$
For the year ended December 31, 202 4, the City recognized pension expense of $217,577 for its
proportionate share of the Police and Fire Plan's pension expense. Included in this amount, the City
recognized $3,697 as pension expense (and grant revenue) for its proportionate share of the State of
Minnesota's contribution of $9 million to the Police and Fire Fund.
The State of Minnesota is not included as a non -employer contributing entity in the Police and Fire
Pension Plan pension allocation schedules for the $28.4 million in supplemental state aid because
this contribution was not considered to meet the definition of a special funding situation. The City
recognized $21,561 for the year ended December 31, 2024, as revenue and an offsetting reduction of
the net pension liability for its proportionate share of the State of Minnesota 's on-behalf
contributions to the Police and Fire Fund.
City of St. Joseph
Notes to Basic Financial Statements
73
NOTE 10 – PENSION PLANS (CONTINUED)
Public Employees' Retirement Association (Continued)
D. Pension Costs (Continued)
Police and Fire Fund Pension Costs (Continued)
At December 31, 2024, the City reported its proportionate share of the Police and Fire Plan 's
deferred outflows of resources and deferred inflows of resources related to pensions from the
following sources.
Differences between expected and actual economic experience 351,216$ -$
Changes in actuarial assumptions 906,648 1,303,295
Net difference between projected and actual investment
earnings - 328,822
Changes in proportion 278,568 710
Contributions paid to PERA subsequent to the measurement
date 98,016 -
Total 1,634,448$ 1,632,827$
Deferred
Outflows of
Resources
Deferred
Inflows of
Resources
The $98,016 reported as deferred outflows of resources related to pensions resulting from City
contributions subsequent to the measurement date will be recognized as a reduction of the net
pension liability in the year ended December 31, 2025. Other amounts reported as deferred outflows
and inflows of resources related to pensions will be recognized in pension expense as follows:
Pension
Year Ended Expense
December 31,Amount
2025 913$
2026 249,431
2027 (98,696)
2028 (295,863)
2029 47,820
Total (96,395)$
City of St. Joseph
Notes to Basic Financial Statements
74
NOTE 10 – PENSION PLANS (CONTINUED)
Public Employees' Retirement Association (Continued)
E. Long-Term Expected Return on Investment
The State Board of Investment, which manages the investments of PERA, prepares an analysis of the
reasonableness on a regular basis of the long -term expected rate of return using a building-block
method in which best -estimate ranges of expected future rates of return are developed for each
major asset class. These ranges are combined to produce an expected long -term rate of return by
weighting the expected future rates of return by the target asset allocation percentages. The target
allocation and best estimates of geometric real rates of return for each major asset class are
summarized in the following table:
Domestic equity 33.5 %5.10 %
International equity 16.5 5.30
Fixed income 25.0 0.75
Private markets 25.0 5.90
Total 100.0 %
Asset Class Target Allocation
Long-Term
Expected Real
Rate of Return
F. Actuarial Methods and Assumptions
The total pension liability in the June 30, 2024, actuarial valuation was determined using an
individual entry-age normal actuarial cost method. The long -term rate of return on pension plan
investments used in the determination of the total liability is 7.0%. This assumption is based on a
review of inflation and investments return assumptions from a number of national investment
consulting firms. The review provided a range of return investment return rates considered
reasonable by the actuary. An investment return of 7.0% is within that range.
Inflation is assumed to be 2.25% for the General Employees Plan and 2.25% for the Police and Fire
Plan. Benefit increases after retirement are assumed to be 1.25% for the General Employees Plan and
1% for the Police and Fire Plan.
Salary growth assumptions in the General Employees Plan range in annual increments from 10.25%
after one year of service to 3.0% after 27 years of service. In the Police and Fire Plan, salary growth
assumptions range from 11.75% after one year of service to 3.0% after 24 years of service.
Mortality rates for the General Employees Plan are based on the Pub -2010 General Employee
Mortality Table. Mortality rates for the Police and Fire Plan are based on the Pub -2010 Public Safety
Employee Mortality tables. The tables are adjusted slightly to fit PERA 's experience.
City of St. Joseph
Notes to Basic Financial Statements
75
NOTE 10 – PENSION PLANS (CONTINUED)
Public Employees' Retirement Association (Continued)
F.Actuarial Methods and Assumptions (Continued)
Actuarial assumptions for the General Employees Plan are reviewed every four years. The General
Employees Plan was last reviewed in 2022. The assumption changes were adopted by the Board and
became effective with the July 1, 2023, actuarial valuation. The Police and Fire Plan was reviewed in
2024. PERA anticipates the experience study will be approved by the Legislative Commission on
Pensions and Retirement and become effective with the July 1, 2025 actuarial valuation.
The following changes in actuarial assumptions and plan provisions occurred in 202 4:
General Employees Fund
Changes in Actuarial Assumptions
•Rates of merit and seniority were adjusted, resulting in slightly higher rates.
•Assumed rates of retirement were adjusted as follows : Increase the rate of assumed
unreduced retirements, slight adjustments to Rule of 90 retirement rates, and slight
adjustments to early retirement rates for Tier 1 and Tier 2 members.
•Minor increase in assumed withdrawals for males and females.
•Lower rates of disability.
•Continued use of Pub-2010 general mortality table with slight rate adjustments as
recommended in the most recent experience study.
•Minor changes to form of payment assumptions for male and female retirees.
•Minor changes to assumptions made with respect to missing participant data.
Changes in Plan Provisions
•The workers' compensation offset for disability benefits was eliminated. The actuarial
equivalent factors updated to reflect the changes in assumptions.
Police and Fire Fund
Changes in Plan Provisions
•The State contribution of $9.0 million per year will continue until the earlier of 1) both the
Police and Fire Plan and the State Patrol Retirement Fund attain 90% funded status for three
consecutive years (on an actuarial value of assets basis) or 2) July 1, 2048. The contribution
was previously due to expire after attaining a 90% funded status for one year.
•The additional $9.0 million contribution will continue until the Police and Fire Plan is fully
funded for a minimum of three consecutive years on an actuarial value of assets basis, or
July 1, 2048, whichever is earlier. This contribution was previously due to expire upon
attainment of fully funded status on an actuarial value of assets basis for one year (or July 1,
2048 if earlier).
City of St. Joseph
Notes to Basic Financial Statements
76
NOTE 10 – PENSION PLANS (CONTINUED)
Public Employees' Retirement Association (Continued)
G. Discount Rate
The discount rate used to measure the total pension liability in 2024 was 7.0%. The projection of
cash flows used to determine the discount rate assumed that contributions from Plan members and
employers will be made at rates set in Minnesota Statutes. Based on these assumptions, the fiduciary
net positions of the General Employees and Police and Fire Plans were projected to be available to
make all projected future benefit payments of current plan members. Therefore, the long-term
expected rate of return on pension plan investments was applied to all periods of projected benefit
payments to determine the total pension liability.
H. Pension Liability Sensitivity
The following presents the City's proportionate share of the net pension liability for all plans it
participates in, calculated using the discount rate disclosed in the preceding paragraph, as well as
what the City's proportionate share of the net pension liability would be if it were calculated using a
discount rate 1 percentage point lower or 1 percentage point higher than the current discount rate:
1% Decrease in Current 1% Increase in
Discount Rate
(6.0%)
City's proportionate share of
the General Employees Fund
net pension liability 1,499,989$ 686,759$ 17,801$
1% Decrease in Current 1% Increase in
City's proportionate share of
the Police and Fire Fund
net pension liability 2,360,347$ 998,794$ (119,325)$
Discount Rate
(8.0%)
Discount Rate
(6.0%)
Discount Rate
(7.0%)
Discount Rate
(8.0%)
Discount Rate
(7.0%)
I. Pension Plan Fiduciary Net Position
Detailed information about each pension plan's fiduciary net position is available in a separately
issued PERA financial report that includes financial statements and required supplementary
information. That report may be obtained on the Internet at www.mnpera.org.
Public Employees Defined Contribution Plan (Defined Contribution Plan)
The City's council members are covered by the Defined Contribution Plan, a multiple -employer
deferred compensation plan administered by PERA. The Defined Contribution Plan is a tax qualified
plan under Section 401(a) of the Internal Revenue Code and all contributions by or on behalf of
employees are tax deferred until time of withdrawal.
City of St. Joseph
Notes to Basic Financial Statements
77
NOTE 10 – PENSION PLANS (CONTINUED)
Public Employees Defined Contribution Plan (Defined Contribution Plan) (Continued)
The defined contribution plan consists of individual accounts paying a lump -sum benefit. Plan
benefits depend solely on amounts contributed to the plan plus investment earnings, less
administrative expenses; therefore, there is no future liability to the City. Minnesota Statutes
Chapter 353D and 356, specifies plan provisions, including the employee and employer contribution
rates for those qualified personnel who elect to participate. An eligible elected official who decides
to participate contributes 5% of salary which is matched by the elected official 's employer.
Employees who are paid for their services may elect to make member contributions in an amount not
to exceed the employer share. Employer and employee contributions are combined and used to
purchase shares in one or more of the seven accounts of the Minnesota Supplemental Investment
Fund. For administering the plan, PERA receives 2% of employer contributions and twenty -five
hundredths of 1% (.25%) of the assets in each member's account annually.
Pension expense for the year is equal to the contributions made. Total contributions made by the
City during fiscal year 2024 were:
Contribution Amount Percentage of Covered Payroll
Employee Employer Employee Employer Required Rate
1,238$ 1,238$ 5%5%5%
Defined Benefit Pension Plan – Volunteer Firefighter's Relief Association
A. Plan Description
The City of St. Joseph Volunteer Fire Department Relief Association is the administrator of a single
employer defined benefit pension plan established to provide benefits for members of the Relief
Association per Minnesota State Statutes.
The Association issues a publicly available financial report that includes financial statements and
required supplementary information. That report may be obtained by writing to the St. Joseph
Volunteer Fire Department Relief Association, 75 Callaway St E, St. Joseph, MN 56374.
B. Benefits Provided
Volunteer firefighters of the City are member of Joseph Volunteer Fire Department Relief Association.
Full retirement benefits are payable to members who have reached age 50 an d have completed 20
years of service for lump sum service pension. Partial benefits are payable to members who have
reached 50 years and have completed 10 years of service. Disability benefits and widow and children's
survivor benefits are also payable to members, or their beneficiaries based upon requirements set
forth in the bylaws. These benefit provisions and all other requirements are consistent with enabling
state statutes.
City of St. Joseph
Notes to Basic Financial Statements
78
NOTE 10 – PENSION PLANS (CONTINUED)
Defined Benefit Pension Plan – Volunteer Firefighter's Relief Association (Continued)
C. Employees Covered by Benefit Terms
At December 31, 2024, the following employees were covered by the benefit terms:
Inactive members entitled to but not yet receiving benefits 6
Active members 28
Total 34
D. Contributions.
Minnesota Statutes Chapter 424A.092 specifies minimum support rates required on an annual basis.
The minimum support rates from the municipality and from State aids are determined as the amount
required to meet the normal cost plus amortizing any existing prior service costs over a ten-year
period. The City's obligation is the financial requirement for the year less state aids. Any additional
payments by the City shall be used to amortize the unfunded liability of the relief association. The
Association is comprised of volunteers: therefore, there are no payroll expenditures (i.e., there are
no covered payroll percentage calculations). During the year, the City recognized as revenue and as
an expenditure an on behalf payment of $75,934 made by the State of Minnesota for the Relief
Association. The City also contributed $6,000 to the Relief Association.
E. Net Pension Liability
The City's net pension liability was measured as of December 31, 2024, and the total pension liability
used to calculate the net pension liability was determined by an actuarial valuation as of that date.
The total pension liability in the December 31, 2024, actuarial valuation was determined using the
following actuarial assumptions, applied to all periods included in the measurement:
Inflation 2.50 %
Investment rate of return 5.75 %, net of pensions plan investment
expense including inflation
The value of death benefits is similar to the value of the retirement pension. Mortality rates for
active members, retirees, and disabled were based on Pub-2010 tables, with mortality improvement
scale MP-2021, with slight adjustments for male rates.
The long-term return on assets has been set based on the plan 's target investment allocation along
with long-term return expectations by asset class. When there is sufficient historical evidence of
market outperformance, historical average returns may be considered. Best estimates of arithmetic
real rates of return for each major asset class included in the pension plan 's target asset allocation as
of the measurement date are summarized in the table on the following page.
City of St. Joseph
Notes to Basic Financial Statements
79
NOTE 10 – PENSION PLANS (CONTINUED)
Defined Benefit Pension Plan – Volunteer Firefighter's Relief Association (Continued)
E. Net Pension Liability (Continued)
Asset Class
Domestic equity 45.0 %4.52 %
International equity 10.0 5.08
Fixed income 40.0 2.44
Real estate and alternatives -3.73
Cash and equivalents 5.0 0.99
Total 100.0 %
Expected Real
Target Allocation Rate of Return
Long-Term
The discount rate used to measure the total pension liability was 5.75%. Assets were projected using
expected benefit payments and expected asset returns. Expected benefit payments by year were
discounted using the expected asset return assumption for years in which the assets were sufficient
to pay all benefit payments. Any remaining benefit payments after the trust fund is exhausted are
discounted at the municipal bond rate. The equivalent single rate is the discount rate.
City of St. Joseph
Notes to Basic Financial Statements
80
NOTE 10 – PENSION PLANS (CONTINUED)
Defined Benefit Pension Plan – Volunteer Firefighter's Relief Association (Continued)
F. Changes in the Net Pension Liability
Total Plan Fiduciary Net Pension
Pension Net Liability
Liability Position (Asset)
(a) (b)(a) - (b)
Balances at January 1, 2024 1,005,842$ 1,129,639$ (123,797)$
Changes for the year
Service cost 47,198 - 47,198
Interest cost 50,019 - 50,019
Differences between expected and actual experience (111,871) - (111,871)
Changes of assumptions (29,737) - (29,737)
Changes of benefit terms 86,493 - 86,493
State and local contributions - 81,934 (81,934)
Net investment income - 161,895 (161,895)
Administrative expense - (9,860) 9,860
Net changes 42,102 233,969 (191,867)
Balances at December 31, 2024 1,047,944$ 1,363,608$ (315,664)$
Increase (Decrease)
Sensitivity of the net pension liability to changes in the discount rate. The following presents the net
pension liability of the City, calculated using the discount rate of 5.75%, as well as what the City's
net pension liability would be if it were calculated using a discount rate that is 1 percentage point
lower (4.75%) or 1 percentage point higher (6.75%) than the current rate:
1% Decrease in Current 1% Increase in
Discount Rate Discount Rate Discount Rate
(3.75%)(4.75%)(5.75%)
City's proportionate share of
the Plan net position liability (asset)(283,074)$ (315,664)$ (347,136)$
Pension plan fiduciary net position. Detailed information about the pension plan's fiduciary net
position is available in the separately issued relief association financial report.
City of St. Joseph
Notes to Basic Financial Statements
81
NOTE 10 – PENSION PLANS (CONTINUED)
Defined Benefit Pension Plan – Volunteer Firefighter's Relief Association (Continued)
G. Pension Expense and Deferred Outflows of Resources, and Deferred Inflows of Resources
Related to Pensions
For the year ended December 31, 2024, the City recognized pension expense of $107,690. At
December 31, 2024, the City reported deferred outflows of resources and deferred inflows of
resources related to pensions from the following sources:
Deferred Deferred
Outflows of Inflows of
Resources Resources
Differences between expected and actual liability -$ 131,027$
Changes of assumptions 25,476 27,917
Net difference between projected and actual earnings on
pension plan investments - 58,707
Total 25,476$ 217,651$
Amounts reported as deferred outflows of resources and deferred inflows of resources related to
pensions will be recognized in pension expense as follows:
Year Ending
December 31,Total
2025 (18,191)$
2026 (13,345)
2027 (60,325)
2028 (41,828)
2029 (20,057)
Therafter (38,429)
Total (192,175)$
City of St. Joseph
Notes to Basic Financial Statements
82
NOTE 11 – COMMITMENTS
The City has entered into contracts for construction as follows:
Commitment
2024 Street Improvements 1,663,281$ $1,418,697 244,584
2024 CSAH 133/Elm St Roundabout 1,975,831 - 1,975,831
Rivers Bend Park Phase I Construction 728,759 170,274 558,485
Pickleball Courts 271,294 176,930 94,364
Community Center Construction Manager 718,462 12,049 706,413
Community Center Design 850,000 25,500 824,500
Community Center Capital Campaign 216,000 - 216,000
Total 4,620,177$
Project
Contract
Amount
Expended
through
12/31/24
The community center project will be financed with $4,000,000 State MN bonding and $6,000,000
from local option sales tax money.
NOTE 12 – TAX INCREMENT FINANCING
The City has entered into four Tax Increment Financing agreements which meet the criteria for
disclosure under Governmental Accounting Standards Board Statement No. 77 Tax Abatement
Disclosures. The City's authority to enter into these agreements comes from Minnesota Statute § 469.
The City entered into these agreements for the purpose of economic development.
Under each agreement, the City and developer agree on an amount of development costs to be
reimbursed to the developer by the City though tax revenues from the additional taxable value of
the property generated by the development (tax increment). A "pay-as-you-go" note is established
for this amount, on which the City makes payments for a fixed period of time with available tax
increment revenue after deducting for certain administrative costs.
During the year ended December 31, 2024, the City generated $157,342 in tax increment revenue
and made $141,608, in payments to developers.
In addition, the City had an abatement of $64,532 relating to a development agreement.
City of St. Joseph
Notes to Basic Financial Statements
83
NOTE 13 – RESTATEMENTS AND ADJUSTMENTS OF BEGINNING FUND BALANCES
During the year ended December 31, 2024, the City 's G.O. Improvement Bonds of 2016B Fund was
changed from a nonmajor governmental fund to a major governmental fund, resulting in a decrease
of beginning fund balance for the nonmajor governmental funds of $195,072. The City 's G.O.
Industrial Park Bonds of 2019A Fund was changed from a major governmental fund to a nonmajor
governmental fund, resulting in an increase of beginning fund balance for the nonmajor
governmental funds of $952,132.
G.O.
Improvement
Bonds of
2016B
G.O. Industrial
Park Bonds of
2019A
Nonmajor
Governmental
12/31/2023, as previously reported -$ 952,132$ 7,299,554$
Change in accounting principle 195,072 (952,132) 757,060
12/31/2023, as adjusted or restated 195,072$ -$ 8,056,614$
Reporting Units Affected by Adjustments to and
Restatements of Beginning Balances
Funds
NOTE 14 – NEW STANDARDS ISSUED BUT NOT YET IMPLEMENTED
GASB Statement No. 102, Certain Risk Disclosures. The disclosures required by this Statement will
provide users with timely information regarding certain concentrations or constraints and related
events that have occurred or have begun to occur that make a government vulnerable to a
substantial impact. This Statement will be effective for the year ending December 31, 2025.
GASB Statement No. 103 , Financial Reporting Model Improvements. The changes required by this
Statement provide clarity, enhance the relevance of information, provide more useful information
for decision-making, and provide for greater comparability amongst government entities. This
Statement will be effective for the year ending December 31, 2026.
GASB Statement No. 104 , Disclosure of Certain Capital Assets . The disclosures required by this
Statement provide users of the financial statements with essential information about certain types of
capital assets. This Statement will be effective for the year ending December 31, 2026.
84
85
REQUIRED SUPPLEMENTARY INFORMATION
See notes to required supplementary information. 86
City's Covered
Payroll
2015 0.0138%715,188$ -$ 715,188$ 799,773$ 89.42%78.19%
2016 0.0135%1,096,133 14,341 1,110,474 839,240 130.61%68.91%
2017 0.0142%906,519 11,418 917,937 916,373 98.92%75.90%
2018 0.0142%787,758 25,900 813,658 955,440 82.45%79.53%
2019 0.0135%746,385 23,166 769,551 956,520 78.03%80.23%
2020 0.0145%869,341 26,723 896,064 1,031,520 84.28%79.06%
2021 0.0152%649,108 19,868 668,976 1,096,507 59.20%87.00%
2022 0.0155%1,227,605 36,093 1,263,698 1,164,720 105.40%76.67%
2023 0.0167%933,845 25,802 959,647 1,331,120 70.15%83.10%
2024 0.0186%686,759 17,758 704,517 1,572,227 43.68%89.08%
For Fiscal
Year Ended
June 30,
City's
Proportion of
the Net
Pension
Liability
(Asset)
City's
Proportionate
Share of the
Net Pension
Liability
(Asset)
State's
Proportionate
Share
(Amount) of
the Net
Pension
Liability
Associated
with the City
City's
Proportionate
Share of the
Net Pension
Liablility and
the State's
Proportionate
Share of the
Net Pension
Liablility
Associated
with the City
City's Covered
Payroll
City's
Proportionate
Share of the
Net Pension
Liability
(Asset) as a
Percentage of
its Covered
Payroll
Plan Fiduciary
Net Position
as a
Percentage of
the Total
Pension
Liability
2015 0.0570%647,653$ N/A 647,653$ 505,160$ 128.21%86.61%
2016 0.0540%2,167,114 N/A 2,167,114 518,580 417.89%63.88%
2017 0.0540%729,064 N/A 729,064 554,975 131.37%85.43%
2018 0.0581%614,057 N/A 614,057 612,154 100.31%88.84%
2019 0.0559%587,566 N/A 587,566 576,684 101.89%89.26%
2020 0.0555%726,554 17,262$ 743,816 613,525 121.24%87.19%
2021 0.0618%471,468 21,453 492,921 730,853 67.44%93.66%
2022 0.0631%2,745,862 120,034 2,865,896 767,124 373.59%70.53%
2023 0.0673%1,162,184 46,806 1,208,990 883,531 136.84%86.47%
2024 0.0759%998,794 38,074 1,036,868 1,051,277 98.63%90.17%
Last Ten Years
For Fiscal
Year Ended
June 30,
State's
Proportionate
Share
(Amount) of
the Net
Pension
Liability
Associated
with the City
City's
Proportionate
Share of the
Net Pension
Liability and
the State's
Proportionate
Share of the
Net Pension
Liability
Associated
with the City
Public Employees Police and Fire Retirement Fund
of Net Pension Liability
City of St. Joseph
Schedule of City's Proportionate Share
of Net Pension Liability
Last Ten Years
Schedule of City's Proportionate Share
General Employees Retirement Fund
City's
Proportionate
Share
(Percentage)
of the Net
Pension
Liability
(Asset)
City's
Proportionate
Share
(Amount) of
the Net
Pension
Liability
(Asset)
City's
Proportionate
Share of the
Net Pension
Liability
(Asset) as a
Percentage of
its Covered
Payroll
Plan Fiduciary
Net Position
as a
Percentage of
the Total
Pension
Liability
See notes to required supplementary information. 87
2015 57,804$ 57,804$ -$ 770,720$ 7.50%
2016 66,294 66,294 - 883,920 7.50%
2017 69,820 69,820 - 930,933 7.50%
2018 71,452 71,452 - 952,693 7.50%
2019 76,798 76,798 - 1,023,973 7.50%
2020 90,784 90,784 - 1,210,453 7.50%
2021 91,994 91,994 - 1,226,587 7.50%
2022 93,278 93,278 - 1,243,707 7.50%
2023 110,146 110,146 - 1,468,613 7.50%
2024 120,298 120,298 - 1,603,973 7.50%
2015 85,925$ 85,925$ -$ 530,401$ 16.20%
2016 89,587 89,587 - 553,006 16.20%
2017 93,325 93,325 - 576,080 16.20%
2018 97,377 97,377 - 601,093 16.20%
2019 106,850 106,850 - 630,383 16.95%
2020 118,036 118,036 - 666,870 17.70%
2021 131,669 131,669 - 743,893 17.70%
2022 140,356 140,356 - 792,972 17.70%
2023 174,878 174,878 - 988,011 17.70%
2024 196,031 196,031 - 1,107,520 17.70%
Last Ten Years
Contributions
as a
Percentage of
Covered
Payroll
Statutorily
Required
Contribution
Statutorily
Required
Contribution
Contributions
in Relation to
the Statutorily
Required
Contributions
Contribution
Deficiency
(Excess)
Contributions
in Relation to
the Statutorily
Required
Contributions
Fiscal Year
Ending
December 31,
City's Covered
Payroll
Contributions
as a
Percentage of
Covered
Payroll
Schedule of City Contributions -
Public Employees Police and Fire Retirement Fund
Fiscal Year
Ending
December 31,
City of St. Joseph
Schedule of City Contributions -
General Employees Retirement Fund
Last Ten Years
Contribution
Deficiency
(Excess)
City's Covered
Payroll
See notes to required supplementary information. 88
2015 2016 2017 2018
Total Pension Liability (TPL)
Service cost 20,898$ 25,691$ 25,641$ 27,172$
Interest 29,709 35,786 33,188 32,052
Differenced between expected and
actual experience - (29,935) - (35,760)
Changes of assumptions 55,033 56,691 4,299 8,441
Changes of benefit terms 31,883 - - -
Benefit payments, including refunds, or
member contributions (41,168) (49,000) (118,151) -
Net change in total pension liability 96,355 39,233 (55,023) 31,905
Beginning of year 475,033 571,388 610,621 555,598
End of Year 571,388$ 610,621$ 555,598$ 587,503$
Plan Fiduciary Net Pension (FNP)
Contributions - employer 52,164$ 63,111$ 58,310$ 56,565$
Net investment income (41,979) 68,585 77,946 (50,418)
Benefit payments, including refunds of
member contributions (41,168) (49,000) (118,151) -
Administrative expense (8,121) (7,724) (8,546) (7,582)
Net change in plan fiduciary net position (39,104) 74,972 9,559 (1,435)
Beginning of year 740,099 700,995 775,967 785,526
End of year 700,995$ 775,967$ 785,526$ 784,091$
Net pension liability (NPL)(129,607)$ (165,346)$ (229,928)$ (196,588)$
Plan fiduciary net position as a percentage
of the total pension liability 122.7%127.1%141.4%133.5%
Covered employee payroll n/a n/a n/a n/a
Net pension liability as a percentage
of covered payroll n/a n/a n/a n/a
Measurement Date
City of St. Joseph
Schedule of Changes in Net Pension Liability
and Related Ratios - Fire Relief Association
89
2019 2020 2021 2022 2023 2024
28,180$ 30,292$ 34,333$ 36,598$ 36,028$ 47,198$
32,323 37,109 35,949 36,789 38,068 50,019
- (9,251) - (19,521) - (111,871)
- 15,976 - (2,834) - (29,737)
28,541 59,260 32,566 - 189,858 86,493
- - (174,884) - (47,041) -
89,044 133,386 (72,036) 51,032 216,913 42,102
587,503 676,547 809,933 737,897 788,929 1,005,842
676,547$ 809,933$ 737,897$ 788,929$ 1,005,842$ 1,047,944$
58,653$ 62,075$ 63,830$ 67,568$ 70,206$ 81,934$
118,020 117,376 92,565 (165,717) 130,284 161,895
- - (174,884) - (47,041) -
(9,020) (8,297) (8,951) (8,947) (12,172) (9,860)
167,653 171,154 (27,440) (107,096) 141,277 233,969
784,091 951,744 1,122,898 1,095,458 988,362 1,129,639
951,744$ 1,122,898$ 1,095,458$ 988,362$ 1,129,639$ 1,363,608$
(275,197)$ (312,965)$ (357,561)$ (199,433)$ (123,797)$ (315,664)$
140.7%138.6%148.5%125.3%112.3%130.1%
n/a n/a n/a n/a n/a n/a
n/a n/a n/a n/a n/a n/a
Measurement Date
See notes to required supplementary information. 90
2015 2016 2017 2018
Employer
Statutorily determined contribution (SDC)-$ -$ -$ -$
Contribution in relation to the SDC 3,000 3,000 3,000 3,000
Contribution deficiency (excess)(3,000)$ (3,000)$ (3,000)$ (3,000)$
Non-employer
2% aid 52,164$ 60,111$ 55,310$ 53,565$
Covered employee payroll n/a n/a n/a n/a
Contributions as a percentage of covered
employee payroll n/a n/a n/a n/a
Measurement Date
City of St. Joseph
Schedule of Employer Contributions
and Non-Employer Contributing
Entities - Fire Relief Association
91
2019 2020 2021 2022 2023 2024
-$ -$ -$ -$ -$ -$
3,000 3,000 3,000 6,000 - 6,000
(3,000)$ (3,000)$ (3,000)$ (6,000)$ -$ (6,000)$
55,653$ 59,075$ 60,830$ 61,568$ 70,206$ 75,934$
n/a n/a n/a n/a n/a n/a
n/a n/a n/a n/a n/a n/a
Measurement Date
City of St. Joseph
Notes to Required Supplementary Information
92
General Employees Fund
2024 Changes
Changes in Actuarial Assumptions
• Rates of merit and seniority were adjusted, resulting in slightly higher rates.
• Assumed rates of retirement were adjusted as follows : increase the rate of assumed
unreduced retirements, slight adjustments to Rule of 90 retirement rates, and slight
adjustments to early retirement rates for Tier 1 and Tier 2 members.
• Minor increase in assumed withdrawals for males and females.
• Lower rates of disability.
• Continued use of Pub-2010 general mortality table with slight rate adjustments as
recommended in the most recent experience study.
• Minor changes to form of payment assumptions for male and female retirees.
• Minor changes to assumptions made with respect to missing participant data.
Changes in Plan Provisions
• The workers' compensation offset for disability benefits was eliminated. The actuarial
equivalent factors updated to reflect the changes in assumptions.
2023 Changes
Changes in Actuarial Assumptions
• The investment return assumption and single discount rate were changed from 6.5% to 7.0%.
Changes in Plan Provisions
• An additional one-time direct state aid contribution of $170.1 million was contributed to the
Plan on October 1, 2023.
• The vesting period of those hired after June 30, 2010, was changed from five years of
allowable service to three years of allowable service.
• The benefit increase delay for early retirements on or after January 1, 2024, was eliminated.
• A one-time, non-compounding benefit increase of 2.5% minus the actual 2024 adjustment will
be payable in a lump sum for calendar year 2024 by March 31, 2024.
2022 Changes
Changes in Actuarial Assumptions
• The mortality improvement scale was changed from scale MP -2020 to scale MP-2021.
Changes in Plan Provisions
• There have been no changes since the prior valuation.
2021 Changes
Changes in Actuarial Assumptions
• The investment return and single discount rates were changed from 7.5% to 6.5% for financial
reporting purposes.
• The mortality improvement scale was changed from scale MP -2019 to scale MP-2020.
Changes in Plan Provisions
• There have been no changes since the prior valuation.
2020 Changes
Changes in Actuarial Assumptions
• The price inflation assumption was decreased from 2.5% to 2.25%.
• The payroll growth assumption was decreased from 3.25% to 3.0%.
City of St. Joseph
Notes to Required Supplementary Information
93
General Employees Fund (Continued)
2020 Changes (Continued)
Changes in Actuarial Assumptions (Continued)
•Assumed salary increase rates were changed as recommended in the June 30, 2019,
experience study. The net effect is assumed rates that average 0.25% less than previous
rates.
•Assumed rates of retirement were changed as recommended in the June 30, 2019, experience
study. The changes result in more unreduced (normal) retirements and slightly fewer Rule of
90 and early retirements.
•Assumed rates of termination were changes as recommended in the June 30, 2019,
experience study. The new rates are based on service and are generally lower than the
previous rates for years 2-5 and slightly higher thereafter.
•Assumed rates of disability were changed as recommended in the June 30, 2019, experience
study. The change results in fewer predicted disability retirements for males and females.
•The base mortality table for healthy annuitants and employees was changed from the RP -2014
table to the Pub-2010 General Mortality table, with adjustments. The base mortality table for
disabled annuitants was changed from the RP -2014 disabled annuitant mortality table to the
Pub-2010 General/Teacher disabled annuitant mortality table, with adjustments.
•The mortality improvement scale was changed from Scale MP -2018 to Scale MP-2019.
•The assumed spouse age difference was changed from two years older for females to one year
older.
•The assumed number of married male new retirees electing the 100% Joint and Survivor
option changed from 35% to 45%. The assumed number of married female new retires electing
the 100% Joint and Survivor option changed from 15% to 30%. The corresponding number of
married new retirees electing the Life annuity option was adjusted accordingly.
Changes in Plan Provisions
•Augmentation for current privatized members was reduced to 2.0% for the period July 1, 2020
through December 31, 2023, and 0.0% thereafter. Augmentation was eliminated for
privatizations occurring after June 30, 2020.
2019 Changes
Changes in Actuarial Assumptions
•The mortality projection scale was changed from MP-2017 to MP-2018.
Changes in Plan Provisions
•The employer supplemental contribution was changed prospectively, decreasing from $31.0
million to $21.0 million per year. The State 's special funding contribution was changed
prospectively, requiring $16.0 million due per year through 2031.
2018 Changes
Changes in Actuarial Assumptions
•The mortality projection scale was changed from MP-2015 to MP-2017.
•The assumed benefit increase was changed from 1.0% per year through 2044 and 2.5% per
year thereafter to 1.25% per year.
Changes in Plan Provisions
•The augmentation adjustment in early retirement factors is eliminated over a five -year period
starting July 1, 2019, resulting in actuarial equivalence after June 30, 2024.
•Interest credited on member contributions decreased from 4.00% to 3.00%, beginning July 1,
2018.
City of St. Joseph
Notes to Required Supplementary Information
94
General Employees Fund (Continued)
2018 Changes (Continued)
Changes in Plan Provisions (Continued)
• Deferred augmentation was changed to 0.00%, effective January 1, 2019. Augmentation that
has already accrued for deferred members will still apply.
• Contribution stabilizer provisions were repealed.
• Annual increases were changed from 1.00% per year with a provision to increase to 2.50%
upon attainment of 90.00% funding ratio to 50.00% of the Social Security Cost of Living
Adjustment, not less than 1.00% and not more than 1.50%, beginning
January 1, 2019.
• For retirements on or after January 1, 2024, the first benefit increase is delayed until the
retiree reaches normal retirement age; this does not apply to Rule of 90 retirees, disability
benefit recipients, or survivors.
• Actuarial equivalent factors were updated to reflect revised mortality and interest
assumptions.
2017 Changes
Changes in Actuarial Assumptions
• The CSA loads were changed from 0.8% for active members and 60% for vested and non -vested
deferred members. The revised CSA loads are now 0.0% for active member liability, 15% for
vested deferred member liability and 3% for non -vested deferred member liability.
• The assumed annual increase rate was changed from 1.0% per year for all years to 1.0% per
year through 2044 and 2.5% per year thereafter.
Changes in Plan Provisions
• The State's contribution for the Minneapolis Employees Retirement Fund equals $16,000,000
in 2017 and 2018, and $6,000,000 thereafter.
• The Employer Supplemental Contribution for the Minneapolis Employees Retirement Fund
changed from $21,000,000 to $31,000,000 in calendar years 2019 to 2031. The State 's
contribution changed from $16,000,000 to $6,000,000 in calendar years 2019 to 2031.
2016 Changes
Changes in Actuarial Assumptions
• The assumed post-retirement benefit increase rate was changed from 1.0% per year through
2035 and 2.5% per year thereafter to 1.0% per year for all future years.
• The assumed investment return was changed from 7.9% to 7.5%. The single discount rate was
changed from 7.9% to 7.5%.
• Other assumptions were changed pursuant to the experience study dated June 30, 2015. The
assumed future salary increases, payroll growth, the inflation was decreased by 0.25% to
3.25% for payroll growth and 2.50% for inflation.
Changes in Plan Provisions
• There have been no changes since the prior valuation.
2015 Changes
Changes in Actuarial Assumptions
• The assumed post-retirement benefit increase rate was changed from 1.0% per year through
2030 and 2.5% per year thereafter to 1.0% per year through 2035 and 2.5% per year
thereafter.
City of St. Joseph
Notes to Required Supplementary Information
95
General Employees Fund (Continued)
2015 Changes (Continued)
Changes in Plan Provisions
• On January 1, 2015, the Minneapolis Employees Retirement Fund was merged into the General
Employees Fund, which increased the total pension liability by $1.1 billion and increased the
fiduciary plan net position by $892 million. Upon consolidation, state and employer
contributions were revised; the State 's contribution of $6.0 million, which meets the special
funding situation definition, was due September 2015.
City of St. Joseph
Notes to Required Supplementary Information
96
Police and Fire Fund
2024 Changes
Changes in Plan Provisions
•The State contribution of $9.0 million per year will continue until the earlier of 1) both the
Police and Fire Plan and the State Patrol Retirement Fund attain 90% funded status for three
consecutive years (on an actuarial value of assets basis) or 2) July 1, 2048. The contribution
was previously due to expire after attaining a 90% funded status for one year.
•The additional $9.0 million contribution will continue until the Police and Fire Plan is fully
funded for a minimum of three consecutive years on an actuarial value of assets basis, or
July 1, 2048, whichever is earlier. This contribution was previously due to expire upon
attainment of fully funded status on an actuarial value of assets basis for one year (or July 1,
2048 if earlier).
2023 Changes
Changes in Actuarial Assumptions
•The investment return assumption was changed from 6.5% to 7.0%.
•The single discount rate changed from 5.4% to 7.0%.
Changes in Plan Provisions
•Additional one-time direct state aid contribution of 19.4 million will be contributed to the
Plan on October 1, 2023.
•Vesting requirement for new hires after June 30, 2014, was changed from a graded 20 -year
vesting schedule to a graded 10-year vesting schedule, with 50% vesting after five years,
increasing incrementally to 100% after 10 years.
•A one-time, non-compounding benefit increase of 3.0% will be payable in a lump sum for
calendar year 2024 by March 31, 2024.
•Psychological treatment is required effective July 1, 2023, prior to approval for a duty
disability benefit for a psychological condition relating to the member 's occupation.
•The total and permanent duty disability benefit was increased, effective July 1, 2023.
2022 Changes
Changes in Actuarial Assumptions
•The mortality improvement scale was changed from scale MP -2020 to scale MP-2021.
•The single discount rate was changed from 6.5% to 5.4%.
Changes in Plan Provisions
•There have been no changes since the prior valuation.
2021 Changes
Changes in Actuarial Assumptions
•The investment return and single discount rates were changed from 7.5% to 6.5% for financial
reporting purposes.
•The inflation assumption was changed from 2.5% to 2.25%.
•The payroll growth assumption was changed from 3.25% to 3.0%.
•The base mortality table for healthy annuitants and employees was changed from the RP -2014
table to the Pub-2010 Public Safety mortality table. The mortality improvement scale was
changed from MP-2019 to MP-2020.
City of St. Joseph
Notes to Required Supplementary Information
97
Police and Fire Fund (Continued)
2021 Changes (Continued)
Changes in Actuarial Assumptions (Continued)
• The base mortality table for disabled annuitants was changed from the RP -2014 healthy
annuitant mortality table (with future mortality improvement according to scale MP -2019) to
the Pub-2010 Public Safety disabled annuitant mortality table (with future mortality
improvement according to scale MP-2020).
• Assumed rates of salary increase were modified as recommended in the July 14, 2020,
experience study. The overall impact is a decrease in gross salary increase rates.
• Assumed rates of retirement were changed as recommended in the July 14, 2020, experience
study. The changes resulted in slightly more unreduced retirements and fewer assumed early
retirements.
• Assumed rates of withdrawal were changed from select and ultimate rates to service -based
rates. The changes resulted in more assumed terminations.
• Assumed rates of disability were increased for ages 25 -44 and decreased for ages over 49.
Overall, proposed rates resulted in more projected disabilities.
• Assumed % married for active female members was changed from 60% to 70%. Minor changes
to form of payment assumptions were applied.
Changes in Plan Provisions
• There have been no changes since the prior valuation.
2020 Changes
Changes in Actuarial Assumptions
• The mortality projection scale was changed from MP-2018 to MP-2019.
Changes in Plan Provisions
• There have been no changes since the prior valuation.
2019 Changes
Changes in Actuarial Assumptions
• The mortality projection scale was changed from MP-2017 to MP-2018.
Changes in Plan Provisions
• There have been no changes since the prior valuation.
2018 Changes
Changes in Actuarial Assumptions
• The mortality projection scale was changed from MP-2016 to MP-2017.
Changes in Plan Provisions
• Annual increases were changed to 1.00% for all years, with no trigger.
• An end date of July 1, 2048, was added to the existing $9.0 million state contribution.
• New annual state aid will equal $4.5 million in fiscal years 2019 and 2020, and $9.0 million
thereafter until the plan reaches 100% funding, or July 1, 2048, if earlier.
• Member contributions were changed from 10.80% to 11.30% of pay, effective January 1, 2019,
and 11.80% of pay, effective January 1, 2020.
• Employer contributions were changed from 16.20% to 16.95% of pay, effective January 1,
2019, and 17.70% of pay, effective January 1, 2020.
• Interest credited on member contributions decreased from 4.00% to 3.00%, beginning July 1,
2018.
City of St. Joseph
Notes to Required Supplementary Information
98
Police and Fire Fund (Continued)
2018 Changes (Continued)
Changes in Plan Provisions (Continued)
• Deferred augmentation was changed to 0.00%, effective January 1, 2019. Augmentation that
has already accrued for deferred members will still apply.
• Actuarial equivalent factors were updated to reflect revised mortality and interest
assumptions.
2017 Changes
Changes in Actuarial Assumptions
• Assumed salary increases were changed as recommended in the June 30, 2016, experience
study. The net effect is proposed rates that average 0.34% lower than the previous rates.
• Assumed rates of retirement were changed, resulting in fewer retirements.
• The CSA load was 30% for vested and non -vested deferred members. The CSA has been
changed to 33% for vested members and 2% for non -vested members.
• The base mortality table for healthy annuitants was changed from the RP -2000 fully
generational table to the RP -2014 fully generational table (with a base year of 2006), with
male rates adjusted by a factor of 0.96. The mortality improvement scale was changed from
Scale AA to Scale MP-2016. The base mortality table for disabled annuitants was changed from
the RP-2000 disabled mortality table to the mortality tables assumed for healthy retirees.
• Assumed termination rates were decreased to 3% for the first three years of service. Rates
beyond the select period of three years were adjusted, resulting in more expected
terminations overall.
• Assumed percentage of married female members was decreased from 65% to 60%.
• Assumed age difference was changed from separate assumptions for male members (wives
assumed to be three years younger) and female members (husbands assumed to be four years
older) to the assumption that males are two years older than females.
• The assumed percentage of female members electing Joint and Survivor annuities was
increased.
• The assumed annual benefit increase rate was changed from 1% for all years to 1% per year
through 2064 and 2.5% thereafter.
• The single discount rate was changed from 5.6% per annum to 7.5% per annum.
Changes in Plan Provisions
• There have been no changes since the prior valuation.
2016 Changes
Changes in Actuarial Assumptions
• The assumed post-retirement benefit increase rate was changed from 1.0% per year through
2037 and 2.5% thereafter to 1.0% per year for all future years.
• The assumed investment return was changed from 7.9% to 7.5%. The single discount rate
changed from 7.9% to 5.6%.
• The single discount rate changed from 7.90% to 5.60%.
• The assumed future salary increases, payroll growth, and inflation was decreased by 0.25% to
3.25% for payroll growth and 2.50% for inflation.
Changes in Plan Provisions
• There have been no changes since the prior valuation.
City of St. Joseph
Notes to Required Supplementary Information
99
Police and Fire Fund (Continued)
2015 Changes
Changes in Actuarial Assumptions
• The assumed post-retirement benefit increase rate was changed from 1.0% per year through
2030 and 2.5% per year thereafter to 1.0% per year through 2037 and 2.5% per year
thereafter.
Changes in Plan Provisions
The post-retirement benefit increase to be paid after attainment of the 90% funding threshold
was changed, from inflation up to 2.5%, to a fixed rate of 2.5%.
City of St. Joseph
Notes to Required Supplementary Information
100
Fire Relief Association
2024 Changes
Changes in Plan Provisions
•The benefit level increased from $3,200 to $3,600.
•The discount rate was changed from 4.75% to 5.75%.
2023 Changes
Changes in Plan Provisions
•The benefit level increased from $2,400 to $3,200 per year.
2022 Changes
Changes in Plan Provisions
•The disability, mortality and withdrawal assumptions were updated from the rates used in the
July 1, 2020, Minnesota PERA Police & Fire Plan actuarial valuation to the rates use in the
July 1, 2022, Minnesota PERA Police & Fire Plan actuarial valuation.
•The inflation assumption decreased from 2.50% to 2.25%.
2021 Changes
Changes in Plan Provisions
•The benefit level increased from $2,300 to $2,400 per year.
2020 Changes
Changes in Plan Provisions
•The benefit level increased from $2,100 to $2,300 per year.
Changes in Actuarial Assumptions
•The discount rate was changed from 5.25% to 4.75%.
101
SUPPLEMENTARY INFORMATION
102
Original and
Final
Budget Actual Amounts
Revenues
Property taxes 2,564,054$ 2,566,778$ 2,724$
Miscellaneous taxes 750 1,948 1,198
Special assessments 5,500 59,979 54,479
Franchise fees 193,225 187,873 (5,352)
Licenses and permits 234,620 336,464 101,844
Intergovernmental revenue
Local government aid 1,488,601 1,488,601 -
Police aid 118,500 162,353 43,853
Federal grants 1,500 155,758 154,258
State grants 101,505 112,311 10,806
Other grants and aids 17,000 17,238 238
Total intergovernmental revenue 1,727,106 1,936,261 209,155
Charges for services
General government 32,275 20,247 (12,028)
Public safety 2,500 1,706 (794)
Public works 3,000 3,054 54
Culture and recreation 36,190 40,537 4,347
Total charges for services 73,965 65,544 (8,421)
Fines and forfeitures 72,500 55,130 (17,370)
Miscellaneous revenues
Investment income 25,000 153,545 128,545
Contributions and donations 1,400 16,242 14,842
Other 69,000 69,263 263
Total miscellaneous revenues 95,400 239,050 143,650
Total revenues 4,967,120 5,449,027 481,907
Expenditures
General government
Mayor and council 128,590 107,343 (21,247)
Administrative and finance 828,695 840,008 11,313
Other general government 335,535 328,313 (7,222)
Capital outlay 21,460 24,331 2,871
Total general government 1,314,280 1,299,995 (14,285)
City of St. Joseph
Schedule of Revenues, Expenditures, and
Changes in Fund Balance -
Budget and Actual - General Fund
Variance with
Final Budget -
Over (Under)
Year Ended December 31, 2024
103
Actual Amounts
Expenditures
Public safety
Police
Current 2,264,775$ 2,102,869$ (161,906)$
Capital outlay 262,891 160,550 (102,341)
Total police 2,527,666 2,263,419 (264,247)
Fire
Capital outlay 40,000 40,000 -
Other
Current 118,680 116,804 (1,876)
Capital outlay 1,500 - (1,500)
Total other 120,180 116,804 (3,376)
Total public safety 2,687,846 2,420,223 (267,623)
Public works
Streets and highways
Street maintenance and storm sewers 399,645 554,667 155,022
Snow and ice removal 208,740 89,575 (119,165)
Street engineering 40,000 48,896 8,896
Capital outlay 52,950 52,063 (887)
Total public works 701,335 745,201 43,866
Culture and recreation
Current 490,540 714,445 223,905
Capital outlay 175,950 296,538 120,588
Total culture and recreation 666,490 1,010,983 344,493
Total expenditures 5,369,951 5,476,402 106,451
Excess of revenues over
(under) expenditures (402,831) (27,375) 375,456
Other Financing Sources (Uses)
Insurance recoveries - 20,070 20,070
Sale of property 19,000 36,874 17,874
Transfers in 5,995 616,355 610,360
Transfers out (111,350) (132,815) (21,465)
Total other financing sources (uses)(86,355) 540,484 626,839
Net change in fund balances (489,186)$ 513,109 1,002,295$
Fund Balances
Beginning of year 4,607,257
End of year 5,120,366$
Variance with
Final Budget -
Over (Under)
City of St. Joseph
Schedule of Revenues, Expenditures, and
Changes in Fund Balance -
Budget and Actual - General Fund
Year Ended December 31, 2024
Original and
Final
Budget
104
Economic
Development
Authority (250)
TIF 2-1
Millstream
Shops and Lofts
(257)
TIF 2-3 Bayou
Blues/ Alley
Flat (259)
TIF 4-1
Fortitude
Senior Housing
(253)
Assets
Cash and investments 118,615$ 48,393$ 334$ 36,774$
Taxes receivable - delinquent 768 - - -
Special assessments receivable
Delinquent - - - -
Deferred - - - -
Accounts receivable - - - -
Interest receivable 285 262 12 190
Due from other funds 1,300 - - -
Due from other governments 5,790 - - -
Notes receivable - - - -
Total assets 126,758$ 48,655$ 346$ 36,964$
Liabilities
Accounts payable 5,343$ -$ -$ -$
Contracts payable - - - -
Due to other funds - - 1,300 -
Due to other governments - - - -
Salaries and benefits payable 1,221 - - -
Total liabilities 6,564 - 1,300 -
Deferred Inflows of Resources
Unavailable revenue - property taxes 768 - - -
Unavailable revenue - special assessments - - - -
Total deferred inflows of resources 768 - - -
Fund Balances
Restricted - 48,655 - 36,964
Committed 119,426 - - -
Assigned - - - -
Unassigned - - (954) -
Total fund balances 119,426 48,655 (954) 36,964
Total liabilities, deferred inflows
of resources, and fund balances 126,758$ 48,655$ 346$ 36,964$
City of St, Joseph
Combining Balance Sheet -
Nonmajor Governmental Funds
Special Revenue
December 31, 2024
105
State Collected
Sales Tax (200)
Park
Dedication
(205)
Charitable
Gambling (215)
Lodging Tax
(220)
Revolving Loan
(251)
Deed Housing
(225)
1,514,050$ 325,916$ 760$ 23,801$ 571,624$ 58,318$
- - - - - -
- - - - - -
- - - - - -
- 32 - 3,170 - -
7,297 2,347 6 132 3,106 325
- - - -- -
187,527 182,294 - -- -
- - - -28,754 -
1,708,874$ 510,589$ 766$ 27,103$ 603,484$ 58,643$
-$ 745$ -$ -$ -$ -$
- 8,514 - - - -
- - - - - -
- - - - - -
- - - - - -
- 9,259 - - - -
- - - - - -
- - - - - -
- - - - - -
1,708,874 501,330 766 27,103 96,715 58,643
- - - - 506,769 -
- - - - - -
- - - - - -
1,708,874 501,330 766 27,103 603,484 58,643
1,708,874$ 510,589$ 766$ 27,103$ 603,484$ 58,643$
Special Revenue
106
Special
Revenue
St. Joseph Fire
Services (210)
G.O.
Equipment
Certificates of
2023A (318)
G.O.
Improvement
Bonds of 2023A
(317)
G.O. Capital
Improvement
Plan Bonds of
2016A (301)
Assets
Cash and investments 717,849$ 27,258$ 143,784$ 65,314$
Taxes receivable - delinquent 5 346 494 819
Special assessments receivable
Delinquent - - 211 -
Deferred - - 164,260 -
Accounts receivable 8,215 - - -
Interest receivable 3,506 746 6,294 979
Due from other funds - - - -
Due from other governments 34,117 648 925 1,110
Notes receivable - - - -
Total assets 763,692$ 28,998$ 315,968$ 68,222$
Liabilities
Accounts payable 22,925$ -$ -$ -$
Contracts payable - - - -
Due to other funds - - - -
Due to other governments 248 - - -
Salaries and benefits payable 81,595 - - -
Total liabilities 104,768 - - -
Deferred Inflows of Resources
Unavailable revenue - property taxes 5 346 494 819
Unavailable revenue - special assessments - - 164,471 -
Total deferred inflows of resources 5 346 164,965 819
Fund Balances
Restricted 658,919 28,652 151,003 67,403
Committed - - - -
Assigned - - - -
Unassigned - - - -
Total fund balances 658,919 28,652 151,003 67,403
Total liabilities, deferred inflows
of resources, and fund balances 763,692$ 28,998$ 315,968$ 68,222$
City of St. Joseph
Debt Service
Combining Balance Sheet -
Nonmajor Governmental Funds
December 31, 2024
107
G.O. Industrial
Park Bonds of
2019A (308)
G.O.
Improvement
Bonds of 2019A
(307)
2021
Improvement
Bond [MN
St/Overlays]
(311)
2020A
Equipment
Certificate
(309)
G.O.
Improvement
Bond of 2020B
(310)
1,333,508$ 196,296$ 565,578$ 16$ 402,667$
- 343 528 - 58
- - 184 - -
153,383 187,718 249,944 - 24,840
- - - - -
7,212 1,406 4,042 58 2,577
- - - - -
- 672 1,693 281 62
- - - - -
1,494,103$ 386,435$ 821,969$ 355$ 430,204$
-$ -$ -$ -$ -$
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- 343 528 - 58
153,383 187,718 250,128 - 24,840
153,383 188,061 250,656 - 24,898
1,340,720 198,374 571,313 355 405,306
- - - - -
- - - - -
- - - - -
1,340,720 198,374 571,313 355 405,306
1,494,103$ 386,435$ 821,969$ 355$ 430,204$
Debit Service
108
G.O. Capital
Improvement
Bonds of 2020B
(312)
Taxable
Crossover
Improvement
Bonds of
2014A/2020C
(314)
G.O.
Abatement
Bonds 2022A
(302)
G.O.
Improvement
Bonds of 2022
(315)
Assets
Cash and investments 3,179$ 6,127$ 847,478$ 35,258$
Taxes receivable - delinquent 280 605 - 132
Special assessments receivable
Delinquent - - - -
Deferred - 45,965 - 115,281
Accounts receivable - -- -
Interest receivable 103 153 10,671 919
Due from other funds - - - -
Due from other governments 432 925 - 1,427
Notes receivable - - - -
Total assets 3,994$ 53,775$ 858,149$ 153,017$
Liabilities
Accounts payable -$ -$ -$ 27$
Contracts payable - - - -
Due to other funds - - - -
Due to other governments - - - -
Salaries and benefits payable - - - -
Total liabilities - - - 27
Deferred Inflows of Resources
Unavailable revenue - property taxes 280 605 - 132
Unavailable revenue - special assessments - 45,965 - 115,281
Total deferred inflows of resources 280 46,570 - 115,413
Fund Balances
Restricted 3,714 7,205 858,149 37,577
Committed - - - -
Assigned - - - -
Unassigned - - - -
Total fund balances 3,714 7,205 858,149 37,577
Total liabilities, deferred inflows
of resources, and fund balances 3,994$ 53,775$ 858,149$ 153,017$
Debt Service
City of St. Joseph
Combining Balance Sheet -
Nonmajor Governmental Funds
December 31, 2024
109
G.O.
Equipment
Certificate
2022A (316)
2024A GO
Improvement
Bonds of 2024
(319)
2023
Equipment
Certificates
(418)
2023 Street
Imp/Elm St
ROW Acq (417)
2024 Street
Improvement
Project (419)
14,507$ 176,569$ 35,771$ 673,257$ 392,905$
200 - - - -
- - - - -
- 137,737 - - -
- - - - -
658 1,372 - - -
- - - - -
10,380 - - - -
- - - - -
25,745$ 315,678$ 35,771$ 673,257$ 392,905$
-$ -$ 6,070$ 960$ 619$
- - - 11,538 27,118
- - - - -
- - - - -
- - - - -
- - 6,070 12,498 27,737
200 - - - -
- 137,737 - - -
200 137,737 - - -
25,545 177,941 - - -
- - - - -
- - 29,701 660,759 365,168
- - - - -
25,545 177,941 29,701 660,759 365,168
25,745$ 315,678$ 35,771$ 673,257$ 392,905$
Debt Service Capital Projects
110
111
Water Access
Fund (501)
Sewer Access
Fund (502)
Total
Governmental
Funds
Assets
Cash and investments 315,691$ 67,148$ 8,718,745$
Taxes receivable - delinquent - - 4,578
Special assessments receivable
Delinquent - - 395
Deferred - - 1,079,128
Accounts receivable - - 11,417
Interest receivable - - 54,658
Due from other funds - - 1,300
Due from other governments - - 428,283
Notes receivable - - 28,754
Total assets 315,691$ 67,148$ 10,327,258$
Liabilities
Accounts payable -$ -$ 36,689$
Contracts payable - - 47,170
Due to other funds - - 1,300
Due to other governments - - 248
Salaries and benefits payable - - 82,816
Total liabilities - - 168,223
Deferred Inflows of Resources
Unavailable revenue - property taxes - - 4,578
Unavailable revenue - special assessments - - 1,079,523
Total deferred inflows of resources - - 1,084,101
Fund Balances
Restricted - - 7,011,226
Committed - - 626,195
Assigned 315,691 67,148 1,438,467
Unassigned - - (954)
Total fund balances 315,691 67,148 9,074,934
Total liabilities, deferred inflows
of resources, and fund balances 315,691$ 67,148$ 10,327,258$
Nonmajor Governmental Funds
Capital Projects
December 31, 2024
City of St. Joseph
Combining Balance Sheet -
112
Economic
Development
Authority (250)
TIF 2-1
Millstream
Shops and Lofts
(257)
TIF 2-3 Bayou
Blues/Alley
Flat (259)
TIF 4-1
Fortitude
Senior Housing
(253)
Revenues
Property taxes 221,020$ -$ -$ -$
Tax increments - 47,193 39,600 70,549
Sales taxes - - - -
Lodging taxes - - - -
Special assessments - - - -
Intergovernmental - - - -
Charges for services 19,751 - - -
Miscellaneous
Investment income 2,093 1,750 143 2,348
Contributions and donations - - - -
Revolving loan repayments - - - -
Other - - - -
Total revenues 242,864 48,943 39,743 72,897
Expenditures
Current
Public safety - - - -
Culture and recreation - - - -
Economic development 149,263 43,840 37,031 64,837
Debt service
Principal - - - -
Interest and other charges - - - -
Capital outlay
General government - - - -
Public safety - - - -
Public works - - - -
Culture and recreation - - - -
Total expenditures 149,263 43,840 37,031 64,837
Excess of revenues over
(under) expenditures 93,601 5,103 2,712 8,060
Other Financing Sources (Uses)
Sale of property - - - -
Bonds issued - - - -
Transfers in - - - -
Transfers out (19,000) - - -
Total other financing sources (uses)(19,000) - - -
Net change in fund balances 74,601 5,103 2,712 8,060
Fund Balances
Beginning of year, as previously stated 44,825 43,552 (3,666) 28,904
Change within financial reporting entity (See Note 13)- - - -
Beginning of year, restated 44,825 43,552 (3,666) 28,904
End of year 119,426$ 48,655$ (954)$ 36,964$
Special Revenue
City of St. Joseph
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances -
Nonmajor Governmental Funds
Year Ended December 31, 2024
113
State Collected
Sales Tax (200)
Park
Dedication
(205)
Charitable
Gambling (215)
Lodging Tax
(220)
Revolving Loan
(251)
Deed Housing
(225)
-$ 50,000$ -$ -$ -$ -$
- - - - - -
656,612 - - - - -
- - - 13,738 - -
- - - - - -
- 278,188 - - - -
- 207 - - - -
40,959 16,258 803 932 20,459 2,203
- 41 - - - -
- - - - 1,064 -
- - - 3,746 - -
697,571 344,694 803 18,416 21,523 2,203
- - - - - -
- - 1,562 - - -
- - - 21,005 1,809 -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- 293,183 - - - -
- 293,183 1,562 21,005 1,809 -
697,571 51,511 (759) (2,589) 19,714 2,203
- - - - - -
- - - - - -
- - 165 9,000 10,000 -
(450,000) - - - - -
(450,000) - 165 9,000 10,000 -
247,571 51,511 (594) 6,411 29,714 2,203
1,461,303 449,819 1,360 20,692 573,770 56,440
- - - - - -
1,461,303 449,819 1,360 20,692 573,770 56,440
1,708,874$ 501,330$ 766$ 27,103$ 603,484$ 58,643$
Special Revenue
114
Special Revenue
St. Joseph Fire
Services (210)
G.O.
Equipment
Certificates of
2023A (318)
G.O.
Improvement
Bonds of 2023A
(317)
G.O. Capital
Improvement
Plan Bonds of
2016A (301)
Revenues
Property taxes 214,042$ 104,654$ 149,506$ 179,955$
Tax increments - - - -
Sales taxes - - - -
Lodging taxes - - - -
Special assessments 405 - 39,650 -
Intergovernmental 83,342 - - -
Charges for services 147,070 - - -
Miscellaneous
Investment income 24,342 4,577 44,131 6,424
Contributions and donations 55,781 - - -
Revolving loan repayments - - - -
Other 7,158 - - -
Total revenues 532,140 109,231 233,287 186,379
Expenditures
Current
Public safety 378,880 - - -
Culture and recreation - - - -
Economic development - - - -
Debt service
Principal - 80,000 185,000 200,000
Interest and other charges - 25,110 105,787 71,765
Capital outlay
General government - - - -
Public safety 82,427 - - -
Public works - - - -
Culture and recreation - - - -
Total expenditures 461,307 105,110 290,787 271,765
Excess of revenues over
(under) expenditures 70,833 4,121 (57,500) (85,386)
Other Financing Sources (Uses)
Sale of property 19,000 - - -
Bonds issued - - - -
Transfers in - - 89,200 -
Transfers out - - - -
Total other financing sources (uses)19,000 - 89,200 -
Net change in fund balances 89,833 4,121 31,700 (85,386)
Fund Balances
Beginning of year, as previously stated 569,086 24,531 119,303 152,789
Change within financial reporting entity (See Note 13)- - - -
Beginning of year, as restated 569,086 24,531 119,303 152,789
End of year 658,919$ 28,652$ 151,003$ 67,403$
City of St. Joseph
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances -
Nonmajor Governmental Funds
Year Ended December 31, 2024
Debt Service
115
Formerly G.O.
Improvement
Bonds of 2016B
(304)
G.O. Industrial
Park Bonds of
2019A (308)
G.O.
Improvement
Bonds of 2019A
(307)
2021
Improvement
Bond [MN
St/Overlays]
(311)
2020A
Equipment
Certificate
(309)
-$ -$ 70,142$ 125,002$ 45,500$
- - - - -
- - - - -
- - - - -
- 565,418 95,692 60,361 -
- - - - -
- - - - -
- 98,902 9,517 26,828 375
- - - - -
- - - - -
- - - - -
- 664,320 175,351 212,191 45,875
- - - - -
- - - - -
- - - - -
- 215,000 155,000 260,000 45,000
- 60,732 43,277 85,024 1,832
- - - - -
- - - - -
- - - - -
- - - - -
- 275,732 198,277 345,024 46,832
- 388,588 (22,926) (132,833) (957)
- - - - -
- - - - -
- - - 39,670 1,300
- - - - -
- - - 39,670 1,300
- 388,588 (22,926) (93,163) 343
195,072 - 221,300 664,476 12
(195,072) 952,132 - - -
- 952,132 221,300 664,476 12
-$ 1,340,720$ 198,374$ 571,313$ 355$
Debt Service
116
G.O.
Improvement
Bond of 2020B
(310)
G.O. Capital
Improvement
Bonds of 2020B
(312)
G.O.
Improvement
Bonds of
2013A/2020B
(313)
Taxable
Crossover
Improvement
Bonds of
2014A/2020C
(314)
Revenues
Property taxes 10,042$ 69,933$ 45,129$ 149,827$
Tax increments - - - -
Sales taxes - - - -
Lodging taxes - - -
Special assessments - - 43 10,764
Intergovernmental - - - -
Charges for services - - - -
Miscellaneous
Investment income 17,578 625 934 1,208
Contributions and donations - - - -
Revolving loan repayments - - - -
Other - - - -
Total revenues 27,620 70,558 46,106 161,799
Expenditures
Current
Public safety - - - -
Culture and recreation - - - -
Economic development - - - -
Debt service
Principal 65,000 60,000 50,000 145,000
Interest and other charges 9,508 11,100 597 13,086
Capital outlay
General government - - - -
Public safety - - - -
Public works - - - -
Culture and recreation - - - -
Total expenditures 74,508 71,100 50,597 158,086
Excess of revenues over
(under) expenditures (46,888) (542) (4,491) 3,713
Other Financing Sources (uses)
Sale of property - - - -
Bonds issued - - - -
Transfers in - - - -
Transfers out - - (14,870) -
Total other financing sources (uses)- - (14,870) -
Net change in fund balances (46,888) (542) (19,361) 3,713
Fund Balances
Beginning of year, as previously stated 452,194 4,256 19,361 3,492
Change within financial reporting entity (See Note 13)- - - -
Beginning of year, as restated 452,194 4,256 19,361 3,492
End of year 405,306$ 3,714$ -$ 7,205$
Debt Service
City of St. Joseph
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances -
Nonmajor Governmental Funds
Year Ended December 31, 2024
117
G.O.
Abatement
Bonds 2022A
(302)
G.O.
Improvement
Bonds of 2022
(315)
G.O.
Equipment
Certificate
2022A (316)
2024A GO
Improvement
Bonds of 2024
(319)
2022 Street
Improvement
Project (415)
-$ 39,868$ 52,917$ -$ -$
- - - - -
- - - - -
- - - - -
- 27,352 - 176,164 -
- - - - -
- - 37,438 - -
340,839 6,820 4,581 2,355 -
- - - - -
- - - - -
- - - - -
340,839 74,040 94,936 178,519 -
- - - - -
- - - - -
- - - - -
215,000 65,000 65,000 - -
240,427 22,727 24,727 36,918 -
- - - - -
- - - - -
- 27 - - 40
- - - - -
455,427 87,754 89,727 36,918 40
(114,588) (13,714) 5,209 141,601 (40)
- - - - -
- - - 36,340 -
445,000 1,684 - - -
- - - - (1,684)
445,000 1,684 - 36,340 (1,684)
330,412 (12,030) 5,209 177,941 (1,724)
527,737 49,607 20,336 - 1,724
- - - - -
527,737 49,607 20,336 - 1,724
858,149$ 37,577$ 25,545$ 177,941$ -$
Capital ProjectsDebt Service
118
2023
Equipment
Certificates
(418)
2023 Street
Imp/Elm St
ROW Acq (417)
2024 Street
Improvement
Project (419)
Water Access
Fund (501)
Revenues
Property taxes -$ -$ -$ -$
Tax increments - - - -
Sales taxes - - - -
Lodging taxes - - - -
Special assessments - - 15,576 -
Intergovernmental - - - -
Charges for services - - - 101,650
Miscellaneous
Investment income - - - -
Contributions and donations - - - -
Revolving loan repayments - - - -
Other - - - -
Total revenues - - 15,576 101,650
Expenditures
Current
Public safety - - - -
Culture and recreation - - - -
Economic development - - - -
Debt service
Principal - - - -
Interest and other charges - - - -
Capital outlay
General government 7,573 - - -
Public safety 36,331 - - -
Public works 44,358 295,923 693,083 -
Culture and recreation 21,642 - - -
Total expenditures 109,904 295,923 693,083 -
Excess of revenues over
(under) expenditures (109,904) (295,923) (677,507) 101,650
Other Financing Sources (uses)
Sale of property - - - -
Bonds issued - - 940,660 -
Transfers in - - 120,000 -
Transfers out - (89,200) (17,985) (160,000)
Total other financing sources (uses)- (89,200) 1,042,675 (160,000)
Net change in fund balances (109,904) (385,123) 365,168 (58,350)
Fund Balances
Beginning of year, as previously stated 139,605 1,045,882 - 374,041
Change within financial reporting entity (See Note 13)- - - -
Beginning of year, as restated 139,605 1,045,882 - 374,041
End of year 29,701$ 660,759$ 365,168$ 315,691$
Capital Projects
City of St. Joseph
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances -
Nonmajor Governmental Funds
Year Ended December 31, 2024
119
Capital Projects
Sewer Access
Fund (502)
Total Other
Governmental
Funds
-$ 1,527,537$
- 157,342
- 656,612
- 13,738
- 991,425
- 361,530
101,897 408,013
- 677,984
- 55,822
- 1,064
- 10,904
101,897 4,861,971
- 378,880
- 1,562
- 317,785
- 1,805,000
- 752,617
- 7,573
- 118,758
- 1,033,431
- 314,825
- 4,730,431
101,897 131,540
- 19,000
- 977,000
- 716,019
(72,500) (825,239)
(72,500) 886,780
29,397 1,018,320
37,751 7,299,554
- 757,060
37,751 8,056,614
67,148$ 9,074,934$
120
121
Report on Internal Control over Financial Reporting
and on Compliance and Other Matters Based on an Audit of
Financial Statements Performed in Accordance with
Government Auditing Standards
Independent Auditor's Report
Honorable Mayor and Members
of the City Council
City of St. Joseph
St. Joseph, Minnesota
We have audited, in accordance with auditing standards generally accepted in the United States of
America and the standards applicable to financial audits contained in Government Auditing
Standards issued by the Comptroller General of the United States (Government Auditing Standards),
the financial statements of the governmental activities, the business-type activities, each major
fund, and the aggregate remaining fund information of the City of St. Joseph, Minnesota, as of and
for the year ended December 31, 2024 , and the related notes to financial statements , which
collectively comprise the City's basic financial statements, and have issued our report thereon dated
May 5, 2025.
Report on Internal Control over Financial Reporting
In planning and performing our audit of the financial statements, we considered the City's internal
control over financial reporting (internal control) as a basis for designing audit procedures that are
appropriate in the circumstances for the purpose of expressing our opinions on the f inancial
statements, but not for the purpose of expressing an opinion on the effectiveness of the City's
internal control. Accordingly, we do not express an opinion on the effectiveness of the City's internal
control.
A deficiency in internal control exists when the design or operation of a control does not allow
management or employees, in the normal course of performing their assigned functions, to prevent,
or detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a
combination of deficiencies, in internal control such that there is a reasonable possibility that a
material misstatement of the City's financial statements will not be prevented, or detected and
corrected, on a timely basis. A significant deficiency is a deficiency, or a combination of
deficiencies, in internal control that is less severe than a material weakness, yet important enough
to merit attention by those charged with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of
this section and was not designed to identify all deficiencies in internal control that might be
material weaknesses or significant deficiencies and therefore, material weaknesses or significant
deficiencies may exist that were not identified. We did identify a certain deficiency in internal
control, as described in the accompanying Schedule of Finding and Response on Internal Control that
we consider to be a material weakness, listed as audit finding 2024-001.
122
Report on Compliance and Other Matters
As part of obtaining reasonable assurance about whether the City's financial statements are free
from material misstatement, we performed tests of its compliance with certain prov isions of laws,
regulations, contracts and grant agreements, noncompliance with which could have a direct and
material effect on the financial statements. However, providing an opinion on compliance with those
provisions was not an objective of our audit, and accordingly, we do not express such an opinion . The
results of our tests disclosed no instances of noncompliance or other matters that are required to be
reported under Government Auditing Standards.
City's Response to Finding
Government Auditing Standards requires the auditor to perform limited procedures on the City's
response to the finding identified in our audit is described in the accompanying Schedule of Finding
and Response on Internal Control . The City's response was not subjected to the other auditing
procedures applied in the audit of the financial statements and, accor dingly, we express no opinion
on the response.
Purpose of this Report
The purpose of this report is solely to describe the scope of our testing of internal contr ol and
compliance and the result of that testing, and not to provide an opinion on the effectiveness of the
City's internal control or on compliance. This report is an integral part of an audit performed in
accordance with Government Auditing Standards in considering the City's internal control and
compliance. Accordingly, this communication is not suitable for any other pu rpose.
St. Cloud, Minnesota
May 5, 2025
123
Minnesota Legal Compliance
Independent Auditor's Report
Honorable Mayor and Members
of the City Council
City of St. Joseph
St. Joseph, Minnesota
We have audited, in accordance with auditing standards generally accepted in the United States of
America, and the standards applicable to financial audits contained in Government Auditing
Standards, issued by the Comptroller General of the United States, the financial statements of the
governmental activities, the business-type activities, each major fund, and the aggregate remaining
fund information of the City of St. Joseph, Minnesota, as of and for the year ended December 31,
2024, and the related notes to financial statements, which collectively comprise the City's basic
financial statements, and have issued our report thereon dated May 5, 2025.
In connection with our audit, nothing came to our attention that caused us to believe that the City
failed to comply with the provisions of the contracting – bid laws, depositories of public funds and
public investments, conflicts of interest, public indebtedness, claims and disbursements,
miscellaneous provisions, and tax increment financing sections of the Minnesota Legal Compliance
Audit Guide for Cities, promulgated by the State Auditor pursuant to Minnesota Statutes § 6.65,
insofar as they relate to accounting matters. However, our audit was not directed primarily toward
obtaining knowledge of such noncompliance . Accordingly, had we performed additional procedures,
other matters may have come to our attention regarding the City 's noncompliance with the above
referenced provisions, insofar as they relate to accounting matters.
The purpose of this report is solely to describe the scope of our testing of compliance and the results
of that testing, and not to provide an opinion on compliance. Accordingly, this communication is not
suitable for any other purpose.
St. Cloud, Minnesota
May 5, 2025
City of St. Joseph
Schedule of Finding and Response on
Internal Control
124
CURRENT AND PRIOR YEAR INTERNAL CONTROL FINDING
Material Weakness
Audit Finding 2024-001 – Improve Segregation of Accounting Duties
Adequate segregation of accounting duties is in place when the four areas of a transaction have been
separated: authorization, custody, recording, and reconciliation.
As part of this year's audit, we reviewed the City's documentation of its internal control over
significant areas including: cash receipts, cash disbursements, capital assets, payroll , and utility
billing. The lack of adequate segregation of accounting duties could adversely affect the City 's ability
to initiate, record, process, and report financial data consistent with the assertions of management
in the financial statements. Some of the areas in which we noticed a lack of segregation or an
overlap in duties are as follows:
Cash Receipts
The Administrative Assistant enters cash and checks into the point-of-sale system and
reconciles daily receipts. The Account Technician sends late notices/calculate penalties. The
Police Clerk records police receipts and receives payments. The Records Specialist reconciles
the collections. A Police Clerk takes the deposit to the bank.
Cash Disbursements
The Finance Director is also an authorized signer and has access to the Mayor's electronic
signature. The Administrator reviews and approves checks for payment . At year-end, the
Finance Director reconciles and records accounts and contracts payable.
Capital Assets
The Finance Director records, processes, reconciles, and posts journal entries related to
capital assets. Department heads review their listing for accuracy.
Payroll
The Finance Technician enters employee's time, processes and posts payroll, generates a
payroll report, distributes paystubs to employees, and posts the journal entries related to
payroll. In addition, this same employee reconciles payroll accruals. The Finance Director
reviews payroll reports and time off balances and calculates compensated absences balances
for the audit.
Utility Billing
The Account Technician enters new accounts into the utility billing system and uploads meter
readings via interfacing with electronic readers. The Account Technician enters any rate
changes to the system and can enter manual adjustments. The Account Technician calculates
and enters final bills, prints, and mails utility bills, reconciles receipts to billed amounts, and
enters receipts batches. The Finance Director approves adjustments and rate changes, and
spots check individual utility bill calculations.
125
City of St. Joseph
Schedule of Finding and Response on
Internal Control
CURRENT AND PRIOR YEAR INTERNAL CONTROL FINDING (CONTINUED)
Material Weakness (Continued)
Audit Finding 2024-001 – Improve Segregation of Accounting Duties (Continued)
Cash Reconciliation and Access
The Finance Director performs the above noted responsibilities, while also reconciling cash ,
and generating manual journal entries .
City's Response:
The City Council and City staff are aware of the limited personnel handling the City's financial
matters. The processes and internal controls are reviewed frequently to look for ways to improve
internal controls. The department heads, City Clerk, Administrative Assistant, City Administrator and
City Council each have active roles in monitoring the financial matters of the City to provided
additional oversight. It is unlikely complete segregation of accountings duties will be achieved due to
the cost of hiring several additional staff.
City of St. Joseph
Communications Letter
December 31, 2024
City of St. Joseph
Table of Contents
Report on Matters Identified as a Result of
the Audit of the Basic Financial Statements 1
Material Weakness 3
Required Communication 4
Financial Analysis 8
Emerging Issues 22
1
Report on Matters Identified as a Result of
the Audit of the Basic Financial Statements
Honorable Mayor, Members
of the City Council and Management
City of St. Joseph
St. Joseph, Minnesota
In planning and performing our audit of the financial statements of the governmental activities,
business-type activities, each major fund, and the aggregate remaining fund information of the City
of St. Joseph, Minnesota, as of and for the year ended December 31, 2024, in accordance with
auditing standards generally accepted in the United States of America and the standards applicable
to financial audits contained in Government Auditing Standards, issued by the Comptroller General
of the United States, we considered the City's internal control over financial reporting (internal
control) as a basis for designing audit procedures that are appropriate in the circumstances for the
purpose of expressing our opinions on the financial statements, but not for the purpose of expressing
an opinion on the effectiveness of the City's internal control. Accordingly, we do not express an
opinion on the effectiveness of the City's internal control over financial reporting.
Our consideration of internal control was for the limited purpose described in the preceding
paragraph and was not designed to identify all deficiencies in internal control that might be material
weaknesses or significant deficiencies and, therefore, material weaknesses or significant deficiencies
may exist that have not been identified. In addition, because of inherent limitations in internal
control, including the possibility of management override of controls, misstatements due to error, or
fraud may occur and not be detected by such controls. However, as discussed below, we identified a
certain deficiency in internal control that we consider to be a material weakness.
A deficiency in internal control exists when the design or operation of a control does not allow
management or employees, in the normal course of performing their assigned functions, to prevent,
or detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a
combination of deficiencies, in internal control over financial reporting, such that there is a
reasonable possibility that a material misstatement of the City's basic financial statements will not
be prevented, or detected and corrected, on a timely basis. A reasonable possibility exists when the
likelihood of an event occurring is either reasonably possible or probable as defined as follows:
• Reasonably possible. The chance of the future event or events occurring is more than remote
but less than likely.
• Probable. The future event or events are likely to occur.
The material weakness identified is stated within this letter.
The accompanying memorandum also includes financial analysis provided as a basis for discussion.
The matters discussed herein were considered by us during our audit and they do not modify the
opinion expressed in our Independent Auditor's Report dated May 5, 2025, on such statements.
2
The purpose of this communication, which is an integral part of our audit, is to describe for the
Members of the City Council, management, and others within the City and state oversight agencies
the scope of our testing of internal control and the results of that testing. Accordingly, this
communication is not intended to be and should not be used for any other purpose.
St. Cloud, Minnesota
May 5, 2025
3
City of St. Joseph
Material Weakness
Improve Segregation of Accounting Duties
Adequate segregation of accounting duties is in place when the four areas of a transaction have been
separated: authorization, custody, recording, and reconciliation.
As part of this year's audit, we reviewed the City's documentation of its internal control over
significant areas including: cash receipts, cash disbursements, capital assets, payroll, and utility
billing. The lack of adequate segregation of accounting duties could adversely affect the City's ability
to initiate, record, process, and report financial data consistent with the assertions of management
in the financial statements. Some of the areas in which we noticed a lack of segregation or an
overlap in duties are as follows:
Cash Receipts
The Administrative Assistant enters cash and checks into the point-of-sale system and
reconciles daily receipts. The Account Technician sends late notices/calculate penalties. The
Police Clerk records police receipts and receives payments. The Records Specialist reconciles
the collections. A police clerk takes the deposit to the bank.
Cash Disbursements
The Finance Director also is an authorized signer and has access to the Mayor's electronic
signature. At year-end, the Finance Director reconciles and records contracts payable. The City
Administrator reviews and approves checks for payment.
Capital Assets
The Finance Director records, processes, reconciles, and posts journal entries related to capital
assets. Department heads review their listing for accuracy.
Payroll
The Finance Technician reconciles employee's time, processes, and posts payroll, generates a
payroll report, distributes paystubs to employees, and posts the journal entries related to
payroll. In addition, this same employee reconciles payroll accruals. The Finance Director reviews
payroll reports and time off balances and calculates compensated absences balances for the
audit.
Utility Billing
The Account Technician enters new accounts into the utility billing system and uploads meter
readings via interfacing with electronic readers. The Account Technician enters any rate
changes to the system and can enter manual adjustments. The Account Technician calculates
and enters final bills, prints, and mails utility bills, reconciles receipts to billed amounts, and
enters receipts batches. The Finance Director approves adjustments and rate changes, and
spots check individual utility bill calculations.
Cash Reconciliation and Access
The Finance Director performs the above noted responsibilities, while also reconciling cash, and
generating manual journal entries.
We recommend management and the City Council review the above deficiencies and improve
segregation of accounting duties where possible to build upon the control environment. We also
recommend the City closely follow its internal control plan and follow through with the control
activities that have been designed.
4
City of St. Joseph
Required Communication
We have audited the basic financial statements of the governmental activities, business-type
activities, each major fund, and the aggregate remaining fund information of the City as of and for
the year ended December 31, 2024. Professional standards require that we advise you of the
following matters related to our audit.
Our Responsibility in Relation to the Financial Statement Audit
As communicated in our engagement letter, our responsibility, as described by professional
standards, is to form and express opinions about whether the basic financial statements prepared by
management with your oversight are presented fairly, in all material respects, in accordance with
accounting principles generally accepted in the United States of America. Our audit of the basic
financial statements does not relieve you or management of its respective responsibilities.
Our responsibility, as prescribed by professional standards, is to plan and perform our audit to obtain
reasonable, rather than absolute, assurance about whether the basic financial statements are free of
material misstatement. An audit of the basic financial statements includes consideration of internal
control over financial reporting as a basis for designing audit procedures that are appropriate in the
circumstances, but not for the purpose of expressing an opinion on the effectiveness of the City's
internal control over financial reporting. Accordingly, as part of our audit, we considered the
internal control of the City solely for the purpose of determining our audit procedures and not to
provide any assurance concerning such internal control.
We are also responsible for communicating significant matters related to the audit that are, in our
professional judgement, relevant to your responsibilities in overseeing the financial reporting
process. However, we are not required to design procedures for the purpose of identifying other
matters to communicate to you.
Generally accepted accounting principles provide for certain Required Supplementary Information
(RSI) to supplement the basic financial statements. Our responsibility with respect to the RSI, which
supplements the basic financial statements, is to apply certain limited procedures in accordance
with generally accepted auditing standards. However, the RSI was not audited and, because the
limited procedures do not provide us with sufficient evidence to express an opinion or provide any
assurance, we do not express an opinion or provide any assurance on the RSI.
Our responsibility for the supplementary information accompanying the basic financial statements,
as described by professional standards, is to evaluate the presentation of the supplementary
information in relation to the basic financial statements as a whole and to report on whether the
supplementary information is fairly stated, in all material respects, in relation to the basic financial
statements as a whole.
Our Responsibility in Relation to Government Auditing Standards
As communicated in our engagement letter, part of obtaining reasonable assurance about whether
the basic financial statements are free of material misstatement, we performed tests of the City's
compliance with certain provisions of laws, regulations, contracts, and grant agreements,
noncompliance with which could have a direct and material effect on the determination of basic
financial statement amounts. However, the objective of our tests was not to provide an opinion on
compliance with such provisions.
Planned Scope and Timing of the Audit
We conducted our audit consistent with the planned scope and timing we previously communicated
to you.
5
City of St. Joseph
Required Communication
Compliance with All Ethics Requirements Regarding Independence
The engagement team, others in our firm, as appropriate, our firm, and our network firms have
complied with all relevant ethical requirements regarding independence.
Significant Risks Identified
We have identified the following significant risks of material misstatement:
• Misappropriation of Assets and Segregation of Duties - If duties cannot be appropriately
segregated within the accounting and finance department, there is a risk of unauthorized
disbursements being made from the City and adjustments being made to the City's general
ledger. In addition, generally, this results in less review taking place as transactions are
recorded in the financial statements.
• Management Override of Internal Control - Management override of internal control is
considered a risk in substantially all engagements as management may be incentivized to
produce better results.
• Improper Revenue Recognition - Revenue recognition is considered a fraud risk on
substantially all engagements as it generally has a significant impact on the results of the
governments operations. In addition, complexities exist surrounding the calculation and
recording of various revenue sources.
• Pension Valuation – Net pension liability, deferred outflows of resources related to pensions,
and deferred inflows of resources related to pensions are generally material to the financial
statements and involve significant estimates.
• Lease Receivable and Deferred Inflow – The lease receivable and related deferred inflows are
material to the financial statements and involve significant estimates and judgements
determined by the City related to discount rate, lease term, and lease payments.
Qualitative Aspects of the City's Significant Accounting Practices
Significant Accounting Policies
Management has the responsibility to select and use appropriate accounting policies. A summary of
the significant accounting policies adopted by the City is included in the notes to the basic financial
statements. There have been no initial selection of accounting policies and no changes to significant
accounting policies or their application during 2024. No matters have come to our attention that
would require us, under professional standards, to inform you about (1) the methods used to account
for significant unusual transactions and (2) the effect of significant accounting policies in
controversial or emerging areas for which there is a lack of authoritative guidance or consensus.
Significant Accounting Estimates and Related Disclosures
Accounting estimates and related disclosures are an integral part of the basic financial statements
prepared by management and are based on management's current judgements. Those judgements
are normally based on knowledge and experience about past and current events and assumptions
about future events. Certain accounting estimates are particularly sensitive because of their
significance to the basic financial statements and because of the possibility that future events
affecting them may differ markedly from management's current judgements. The most sensitive
estimates affecting the basic financial statements relate to:
6
City of St. Joseph
Required Communication
Qualitative Aspects of the City's Significant Accounting Practices (Continued)
Significant Accounting Estimates and Related Disclosures (Continued)
Net Pension Liability, Deferred Outflows of Resources Related to Pensions and Deferred
Inflows of Resources Related to Pensions – These balances are based on an allocation by the
pension plans using estimates based on contributions.
Lease Liability and Right-to-Use Lease Assets – These balances are based on estimates and
judgments determined by the City related to the discount rate, lease term, and lease
payments.
We evaluated the key factors and assumptions used to develop the accounting estimates and
determined that they are reasonable in relation to the basic financial statements taken as a whole
and in relation to the applicable opinion units.
Financial Statement Disclosures
Certain basic financial statement disclosures involve significant judgment and are particularly
sensitive because of their significance to financial statement users. The basic financial statement
disclosures are neutral, consistent, and clear.
Significant Difficulties Encountered during the Audit
We encountered no significant difficulties in dealing with management relating to the performance
of the audit.
Uncorrected and Corrected Misstatements
For the purposes of this communication, professional standards require us to accumulate all
known and likely misstatements identified during the audit, other than those that we believe are
trivial, and communicate them to the appropriate level of management. Further, professional
standards require us to also communicate the effects of uncorrected misstatements related to
prior periods on the relevant classes of transactions, account balances or disclosures, and the
basic financial statements taken as a whole and each applicable opinion unit.
The following bullet points summarize the uncorrected financial statement misstatement(s) whose
effects in the current and prior periods, as determined by management, are immaterial, both
individually and in the aggregate, to the financial statements taken as a whole and each applicable
opinion unit. Uncorrected misstatements or matters underlying those uncorrected misstatements
could potentially cause future-period financial statements to be materially misstated, even though
the uncorrected misstatements are immaterial to the financial statements currently under audit.
• Prepaid expenditures
• Lease liability and leased asset
• Pension in-kind revenue and expenditure
• OPEB liability
In addition, professional standards require us to communicate to you all material, corrected
misstatements that were brought to the attention of management as a result of our audit
procedures. None of the misstatements detected as a result of audit procedures and corrected by
management were material, either individually or in the aggregate, to the basic financial
statements taken as a whole.
7
City of St. Joseph
Required Communication
Disagreements with Management
For purposes of this letter, professional standards define a disagreement with management as a
matter, whether or not resolved to our satisfaction, concerning a financial accounting, reporting,
or auditing matter, which could be significant to the City's basic financial statements or the
auditor's report. No such disagreements arose during the course of our audit.
Representations Requested from Management
We have requested certain written representations from management, which are included in the
management representation letter.
Management's Consultations with Other Accountants
In some cases, management may decide to consult with other accountants about auditing and
accounting matters. Management has informed us that, and to our knowledge, there were no
consultations with other accountants regarding auditing and accounting matters.
Other Significant Matters, Findings, or Issues
In the normal course of our professional association with the City, we generally discuss a variety of
matters, including the application of accounting principles and auditing standards, significant events
or transactions that occurred during the year, operating and regulatory conditions affecting the City,
and operational plans and strategies that may affect the risks of material misstatement. None of the
matters discussed resulted in a condition to our retention as the City's auditor.
Other Information Included in Annual Reports
Pursuant to professional standards, our responsibility as auditors for other information, whether
financial or non-financial, included in the City's annual reports, does not extend beyond the
information identified in the audit report, and we are not required to perform any procedures to
corroborate such other information.
We applied certain limited procedures to the RSI that supplements the basic financial statements.
Our procedures consisted of inquiries of management regarding the methods of preparing the
information and comparing the information for consistency with management's responses to our
inquiries, the basic financial statements, and other knowledge we obtained during our audit of the
basic financial statements. We did not audit the RSI and do not express an opinion or provide any
assurance on the RSI.
With respect to the supplementary information accompanying the financial statements, we made
certain inquiries of management and evaluated the form, content and methods of preparing the
information to determine that the information complies with accounting principles generally
accepted in the United States of America, the method of preparing it has not changed from the
prior period, and the information is appropriate and complete in relation to our audit of the
financial statements. We compared and reconciled the supplementary information to the
underlying accounting records used to prepare the basic financial statements or to the basic
financial statements themselves.
Our responsibility also includes communicating to you any information which we believe is a material
misstatement of fact. Nothing came to our attention that caused us to believe that such information,
or its manner of presentation, is materially inconsistent with the information, or manner of its
presentation, appearing in the basic financial statements.
8
City of St. Joseph
Financial Analysis
The following pages provide graphic representation of select data pertaining to the financial position
and operations of the City for the past five years. Our analysis of each graph is presented to provide
a basis for discussion of past performance and how implementing certain changes may enhance
future performance. We suggest you view each graph and document if our analysis is consistent with
yours. A subsequent discussion of this information should be useful for planning purposes.
Tax Capacity, Levy, and Rates
The taxable tax capacity increased at a higher rate to the increase in the certified levy in 2024,
causing the tax rate to increase to 56.41%.
$5,200,249
$5,538,243
$5,802,836 $6,674,317
$7,262,829
$2,893,011 $2,957,875
$3,279,949
$3,728,431
$4,097,169
55.63%53.41%
56.52%55.86%56.41%
99.93%97.74%97.96%99.55%98.49%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
$1,000,000
$2,000,000
$3,000,000
$4,000,000
$5,000,000
$6,000,000
$7,000,000
$8,000,000
2020 2021 2022 2023 2024
Tax Capacity, Levy, and Rates
Taxable Tax Capacity Certified Tax Levy Tax Rate Collection Rate
9
City of St. Joseph
Financial Analysis
General Fund
For the year ended December 31, 2024, General Fund expenditures exceeded revenue by $27,375. In
addition to this, the fund had transfers in of $616,355 from other funds, transfers out of $132,815 to
other funds, insurance recoveries of $20,070, and sale of equipment of $36,874 resulting in an
increase in the General Fund balance of $513,109. Of the City's General Fund balance at
December 31, 2024, $1,840,752 was assigned for specific expenditures, such as police forfeiture,
severance pay and capital outlay reserves. The City had $140,774 of its fund balance restricted for
PEG access and public safety aid. The unassigned portion of the fund balance, which includes monies
set aside for working capital, totaled $3,138,840 and represents approximately 7 months of 2024
General Fund expenditures. The City's target General Fund balance is to maintain working capital, a
portion of the unassigned balance, in the amount of four to six months of the next year's budgeted
expenditures of the General Fund.
The graphs below and on the following page show the City's General Fund balance and the General
Fund revenues and expenditures for the last five years.
$1,707,066 $2,082,669 $2,208,806 $2,155,118 $3,138,840
$648,556
$453,843 $2,098,456 $1,779,231 $2,105,740 $1,840,752
$10,729 $328,899 $140,774
$4,490 $3,274 $17,500 $17,500
$-
$1,000,000
$2,000,000
$3,000,000
$4,000,000
$5,000,000
$6,000,000
2020 2021 2022 2023 2024
General Fund Balance
Unassigned Assigned for Fire Fund Assigned for Other Purposes Restricted Nonspendable
10
City of St. Joseph
Financial Analysis
General Fund (Continued)
2020 2021 2022 2023 2024
Total Revenues $4,945,235 $4,283,181 $4,538,185 $5,582,386 $5,449,027
Total Expenditures $4,473,613 $3,676,354 $4,566,498 $5,160,200 $5,476,402
Fund Balance 2,813,955 4,189,204 4,016,266 4,607,257 5,120,366
$-
$1,000,000
$2,000,000
$3,000,000
$4,000,000
$5,000,000
$6,000,000
General Fund
During the year ended December 31, 2024, the City's General Fund revenues decreased $133,359, or
2.4%, from 2023, while expenditures increased by $316,202, or 6.1%. These changes in revenues and
expenditures will be discussed by source and function, respectively, on the following pages.
As discussed earlier, fund balance did increase $513,109 from 2023 to 2024. Fund balance has
increased $2,306,411, or 82.0%, since 2020.
11
City of St. Joseph
Financial Analysis
General Fund Revenues
2020 2021 2022 2023 2024
Taxes $1,935,881 $2,115,511 $2,102,942 $2,511,452 2,568,726$
Special assessments 3,389 57,840 4,891 31,864 59,979
Franchise fees 132,991 137,382 140,259 140,406 187,873
Licenses and permits 178,139 151,811 307,357 437,341 336,464
Intergovernmental 2,102,263 1,570,692 1,883,220 2,021,446 1,936,261
Charges for services 430,989 98,913 53,057 66,130 65,544
Fines and forfeitures 43,317 87,381 78,924 121,477 55,130
Miscellaneous 118,266 63,651 (32,465) 252,270 239,050
Total Revenues 4,945,235$ 4,283,181$ 4,538,185$ 5,582,386$ 5,449,027$
As discussed earlier, the City's revenue decreased $133,359 from 2023 to 2024. Licenses and permits
revenues accounted for the largest decrease from the prior year with a decrease of $100,877, or
23.1% due to a decrease in building permits. The City also had a decrease of $85,185, or 4.2% in
intergovernmental revenue due to state public safety aid received in 2023 which was one time
funding and a decrease in revenue from the American Rescue Plan Act (ARPA). These decreases were
partially offset by an increase in local government aid. Fines and forfeitures revenue decreased by
$66,347, or 54.6%, due in part to court fines decreasing. Taxes increased $57,274 with an increase in
the levy. Franchise fee revenue increased by $47,467, or 33.8%, from 2023. All other revenues stayed
consistent with the prior year.
Total revenues have grown $503,792 since 2020, an increase of 10.2%. The largest variances between
the types of revenue over the five-year period have been the increases in property taxes, licenses
and permits, and miscellaneous revenues while charges for services and intergovernmental revenue
decreased. Other revenues have stayed relatively consistent over that timeframe.
The pie charts on the following page show the General Fund sources of revenues for 2024 and 2023 as
a percentage of total revenues. The allocation of sources of revenue fluctuates minimally from year-
to-year. Intergovernmental revenue and taxes account for the two largest components of revenues,
making up 36% and 47% of the total in 2024, respectively. The total of these two categories accounts
for approximately 83% and 81% of General Fund revenues for 2024 and 2023, respectively.
12
City of St. Joseph
Financial Analysis
General Fund Revenues (Continued)
Taxes
47%
Special
assessments
1%
Franchise fees
3%
Licenses and
permits
7%Intergovernmental
36%
Charges for
services
1%Fines and
forfeitures
1%
Miscellaneous
4%
2024 General Fund Revenues
Taxes
45%
Special
assesments
1%
Franchise fees
2%
Licenses and
permits
7%Intergovernmental
36%
Charges for
services
1%Fines and
forfeitures
2%
Miscellaneous
5%
2023 General Fund Revenues
13
City of St. Joseph
Financial Analysis
General Fund Expenditures
2020 2021 2022 2023 2024
General government $1,020,077 $997,357 $1,078,866 $1,200,119 1,275,664$
Public safety 1,741,056 1,657,557 1,701,616 2,023,784 2,219,673
Public works 457,226 443,748 716,500 745,955 693,138
Culture and recreation 429,568 362,548 574,640 733,263 714,445
Economic Development 201,414 -- - -
Capital outlay 624,272 215,144 494,876 457,079 573,482
Total Expenditures 4,473,613$ 3,676,354$ 4,566,498$ 5,160,200$ 5,476,402$
As discussed earlier, General Fund expenditures increased $316,202, or 6.1%. The most significant
increases in expenditures were in general government, public safety, and capital outlay. General
government increased $75,545, or 6.3%, from 2023. This increase was due to increased wages and
benefits as well as professional services. Public safety expenditures increased by $195,889. This
increase was primarily due to the City hiring additional staff, increased benefit costs, and wage rate
increases. Capital outlay expenditures increased by $116,403 with additional capital purchases in
2024.
The pie charts on the following page show the General Fund expenditures by function for 2024 and
2023 as a percentage of total expenditures. The allocation of expenditures by function vary from
year to year. Public safety remains the largest component of General Fund expenditures,
representing 41% of total expenditures, up from 39% in 2023.
14
City of St. Joseph
Financial Analysis
General Fund Expenditures (Continued)
General
government
23%
Public safety
41%
Public works
13%
Culture and
recreation
13%
Capital outlay
10%
2024 General Fund Expenditures
General
government
23%
Public safety
39%
Public works
15%
Culture and
recreation
14%
Capital outlay
9%
2023 General Fund Expenditures
15
City of St. Joseph
Financial Analysis
General Fund Budget
The table below illustrates the General Fund budget and actual for 2024 revenues and expenditures
by function.
Original
Actual
Amounts
Revenues
Taxes 2,564,804$ 2,568,726$ 3,922$
Special assessments 5,500 59,979 54,479
Franchise fees 193,225 187,873 (5,352)
Licenses and permits 234,620 336,464 101,844
Intergovernmental 1,727,106 1,936,261 209,155
Charges for services 73,965 65,544 (8,421)
Fines and forfeitures 72,500 55,130 (17,370)
Miscellaneous 95,400 239,050 143,650
Total revenues 4,967,120 5,449,027 481,907
Expenditures
General government 1,292,820 1,275,664 (17,156)
Public safety 2,383,455 2,219,673 (163,782)
Public works 648,385 693,138 44,753
Culture and recreation 490,540 714,445 223,905
Capital outlay 554,751 573,482 18,731
Total expenditures 5,369,951 5,476,402 106,451
Excess of receipts over
(under) disbursements (402,831) (27,375) 375,456
Other Financing Sources (Uses)
Insurance recoveries - 20,070 20,070
Sale of property 19,000 36,874 17,874
Transfers in 5,995 616,355 610,360
Transfers out (111,350) (132,815) (21,465)
Total other financing sources (86,355) 540,484 626,839
Net change in fund balance (489,186)$ 513,109$ 1,002,295$
and Final
Budget
Variance With
Final Budget -
Over (under)
16
City of St. Joseph
Financial Analysis
General Fund Budget (Continued)
The City's had no updates to their original budget throughout the year. Budgeted revenues were $5.0
million, budgeted expenditures were $5.4 million, and other financing sources and uses of $86,355.
General Fund revenues were over budget by $481,907. Special assessment revenue was over budget
as a result of collecting assessment revenue for closed funds. Licenses and permits revenues coming
in over budget by $101,844 due mostly to the City budgeting conservatively for building permits.
Intergovernmental revenue was over budget due to not budgeting for the federal ARPA funds
recognized in 2024. The Miscellaneous revenue came in over budget due mostly to investment gains
and interest revenue. Other revenues were in line with the budget.
Total expenditures were over budget by $106,451. Culture and recreational had the largest budget
variance, being $223,905 over budget. This variance was due to the expenditures relating to the disc
golf course and pickleball court upgrades that were not budgeted. Public Safety was under budget
$163,782, this is due to timing differences for staffing changes throughout the year. Other areas
were consistent with budgeted amounts.
Enterprise Funds
Enterprise funds are used to account for operations financed and operated in a manner similar to
private business enterprises, where the City intends the cost of providing goods or services to the
public be financed or recovered primarily through user charges. The City's Enterprise Funds include
the Water, Sanitary Sewer, Refuse, Storm Water, and Street Light Utility Funds.
17
City of St. Joseph
Financial Analysis
Water Fund
2020 2021 2022 2023 2024
Operating Revenues $1,126,425 $1,153,777 $1,162,651 $1,310,497 $1,174,066
Operating Expenses 885,076 886,023 1,061,837 1,200,714 1,326,540
Operating Income (Loss) with
Depreciation 241,349 267,754 100,814 109,783 (152,474)
Operating Income without Depreciation 683,204 727,537 556,443 564,695 313,429
$(200,000)
$-
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
$1,400,000
Water Fund
The Water Fund showed an operating loss in 2024 after having operating income in the four previous
years. Operating revenues decreased $136,431, or 10.4%, from 2023 to 2024 due to an decrease in
usage. Operating expenses increased $125,826, or 10.5%, from 2023 to 2024 due in part to switching
the mechanical read meters to cellular based meters.
Operations produced an operating loss of $152,474. With the exclusion of $465,903 in depreciation
expense, the Fund experienced operating income of $313,429. However, depreciation should be
considered as a true expense in operations, as most equipment and facilities will eventually need
upgrades or replacement. The operations of the Water Fund covered 67% of depreciation expense.
In addition to the operating revenues and expenses of the Water Fund, there were net non-operating
revenues of $87,328, which is primarily comprised of interest expenses, offset by amortization of
bond premium, investment income, and other income. The operating and non-operating activities
along with capital contributions, and transfers resulted in an increase in net position of $95,939,
resulting in a net position of $12,301,102 at December 31, 2024. The cash and investments balance
at December 31, 2024, totaled $1,457,314, a decrease of $85,304.
18
City of St. Joseph
Financial Analysis
Sanitary Sewer Fund
Operating revenues increased $115,689, or 8.0%, from 2023 to 2024, while operating expenses
increased $24,511, or 2.2%. Revenues increased due to an increase in rates.
The Sewer Fund produced operating income for all five years presented. Due to the nature and cost
of the Sewer Fund's assets, it is difficult to establish sewer rates sufficient to cover replacement of
the assets represented by depreciation expense. Ideally, sewer revenues should cover all operating
expenses, including depreciation.
The graph below indicates the Sewer Fund did generate operating income and covered 100% of
depreciation each year presented.
In addition to the operating revenues and expenses of the Sewer Fund, there were net non-operating
revenues and expenses of $880,360, which was mostly comprised of a gain on disposal of asset along
with interest on investments netted with interest expense. Capital contributions and transfers along
with the operating and non-operating activities resulted in an increase in net position of $1,343,667,
resulting in a net position of $13,533,110 at December 31, 2024. The cash balance at December 31,
2023, totaled $3,373,500, an increase of $273,399.
2020 2021 2022 2023 2024
Operating Revenues $1,345,104 $1,395,818 $1,414,646 $1,448,954 $1,564,643
Operating Expenses 995,506 1,133,200 1,131,199 1,130,094 1,154,605
Operating Income with Depreciation 349,598 262,618 283,447 318,860 410,038
Operating Income without Depreciation 884,242 814,306 833,803 879,788 940,226
$-
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
$1,400,000
$1,600,000
Sanitary Sewer Fund
19
City of St. Joseph
Financial Analysis
Refuse Fund
The following graph displays selected financial data for the Refuse Fund for the past five years. The
Fund showed operating income for the second consecutive year. Operating revenues increased
$87,470, or 20.2%, while operating expenses increased $91,110, or 22.3%, from 2023 to 2024. The
increase in revenues was due in part to an increase in rates in 2024. Expenses increased due to
increased fees from the waste collection company. These changes resulted in an operating revenue
of $20,794 for 2024. The Fund produced an operating income of $23,992 when depreciation is not
considered, thus, the fund is covering all of depreciation expense for 2024.
In addition to the operating activities of the fund, there were non-operating revenues of $7,988
which are mostly comprised of investment income. Transfers along with operating and non-operating
activities resulted in an increase in net position of $40,097. The cash balance increased $34,310 in
2024 and totaled $238,926 at December 31, 2024.
2020 2021 2022 2023 2024
Operating Revenues $314,623 $359,675 $385,244 $432,256 $519,726
Operating Expenses 315,482 368,772 391,013 407,822 498,932
Operating Income (Loss) with Depreciation (859)(9,097)(5,769)24,434 20,794
Operating Income (Loss) without
Depreciation (744)(8,982)(5,654)26,626 23,992
$(50,000)
$-
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
$400,000
$450,000
$500,000
$550,000
Refuse Fund
20
City of St. Joseph
Financial Analysis
Storm Water Fund
The Storm Water Fund showed operating losses in four of the five years presented with the current
year generating an operating loss. Operating revenues increased $2,366, or 1.1%, from 2023 to 2024.
Operating expenses decreased $17,050 due to decreased salaries and benefits and professional
service costs.
The Storm Water Fund produced an operating loss of $7,766 with depreciation and an operating
income of $158,856 without depreciation expense. The operations of the Storm Water Fund did not
cover depreciation expense in 2024. The Storm Water Fund also had net nonoperating revenues of
$26,967, capital contributions totaling $21,931, and transfers out totaling $17,595. Fund activity
resulted in an increase in net position of $23,537. The cash balance increased $165,991 in 2024 and
totaled $662,719 at December 31, 2024.
We recommend the City continue to monitor rates as well as operating expenses to ensure the Fund's
profitability in the future.
2020 2021 2022 2023 2024
Operating Revenues $147,231 $184,603 $269,615 $217,500 $219,866
Operating Expenses 191,197 216,472 215,283 244,682 227,632
Operating Income (Loss) with
Depreciation (43,966)(31,869)54,332 (27,182)(7,766)
Operating Income without
Depreciation 94,657 123,629 209,829 139,550 158,856
$(50,000)
$-
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
Storm Water Fund
21
City of St. Joseph
Financial Analysis
Street Light Utility
The Street Light Utility Fund was opened during 2013 to track activity relating to the street light
utility. The Street Light Utility Fund showed an operating income for the fifth year in a row.
Operating revenues stayed consistent with the prior year, increasing only $1,203 from 2023 to 2024.
Operating expenses decreased $7,676 due to less street light repair and utility costs compared to
2023.
The Street Light Utility Fund produced operating income of $19,883. The fund also reported non-
operating revenues including investment income and special assessments totaling $5,157. Operating
income along with non-operating revenues and expenses resulted in an increase in net position of
$25,040. The cash balance increased $24,737 in 2024 and totaled $144,648 at December 31, 2024.
2020 2021 2022 2023 2024
Operating Revenues $82,418 $85,201 $85,720 $87,097 $88,300
Operating Expenses 66,156 67,231 69,142 76,093 68,417
Operating Income 16,262 17,970 16,578 11,004 19,883
$-
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
$80,000
$90,000
Street Light Utility
22
City of St. Joseph
Emerging Issues
Executive Summary
The following is an executive summary of financial related updates to assist you in staying current on
emerging issues in accounting and finance. This summary will give you a preview of the new
standards that have been recently issued and what is on the horizon for the near future. The most
recent and significant updates include:
• Accounting Standard Update – GASB Statement No. 102 – Certain Risk Disclosures
GASB has issued GASB Statement No. 102 relating to risk disclosures. The disclosures will
provide users with timely information regarding certain concentrations or constraints and
related events that have occurred or have begun to occur that make a government vulnerable
to a substantial impact.
• Accounting Standard Update – GASB Statement No. 103 – Financial Reporting Model
Improvements
GASB has issued GASB Statement No. 103 relating to changes in financial reporting
requirements. The changes provide clarity, enhance the relevance of information, provide
more useful information for decision-making, and provide for greater comparability amongst
government entities.
• Accounting Standard Update – GASB Statement No. 104 – Disclosure of Certain Capital
Assets
GASB has issued GASB Statement No. 104 relating to capital asset disclosures. The disclosures
required by this Statement provide users of the financial statements with essential
information about certain types of capital assets.
The following are extensive summaries of the current updates. As your continued business partner,
we are committed to keeping you informed of new and emerging issues. We are happy to discuss
these issues with you further and their applicability to your City.
23
City of St. Joseph
Emerging Issues
Accounting Standard Update – GASB Statement No. 102 – Certain Risk Disclosures
The objective of this Statement is to provide users of government financial statements with
information about risks related to a government's vulnerabilities due to certain concentrations or
constraints that is essential to their analyses for making decisions or assessing accountability.
This Statement provides definitions for concentration and constraint. A concentration as a lack of
diversity related to an aspect of a significant inflow of resources or outflow of resources. A
constraint is a limitation imposed on a government by an external party or by formal action of the
government's highest level of decision-making authority.
This Statement requires a government to assess whether a concentration or constraint could present
a risk of financial difficulty. The City will need to make a disclosure in the notes to the financial
statements if all three of the following criteria are true:
• The City knows about the concentration or constraint prior to financial statement issuance.
• The concentration or constraint makes the City vulnerable to risk of a substantial impact.
• An event or events associated with the concentration or constraint that could cause a
substantial impact have either (1) happened; (2) started to happen; or (3) are more likely
than not to start happening within 12 months of the financial statements being issued.
If a government determines the above criteria for disclosure have been met, it should disclose
information in notes to financial statements in sufficient detail to enable users of financial
statements to understand the nature of the circumstances disclosed and the government's
vulnerability to the risk of a substantial impact. Disclosures are required for the government as a
whole as well as any opinion unit in the financial statements that includes outstanding revenue debt.
Disclosures can be combined to avoid unnecessary duplication (e.g., a subsequent event footnote).
GASB Statement No. 102 is effective for fiscal years beginning after June 15, 2024. Earlier
application is encouraged.
Information provided above was obtained from www.gasb.org.
24
City of St. Joseph
Emerging Issues
Accounting Standard Update – GASB Statement No. 103 – Financial Reporting Model
Improvements
The objective of this Statement is to improve key components of the financial reporting model to
enhance its effectiveness in providing information that is essential for decision making and assessing
a government's accountability. This Statement also addresses certain application issues.
This Statement addresses 5 areas of the financial statements (1) Management's Discussion and
Analysis (MD&A), (2) Unusual or Infrequent Items, (3) Presentation of the Proprietary Fund Statement
of Revenues, Expenses, and Changes in Fund Net Position, (4) Major Component Unit Information,
and (5) Budgetary Comparison Information.
This Statement continues the requirement that the MD&A precede the basic financial statements as
part of the Required Supplementary Information (RSI). This Statement requires that the information
presented in MD&A be limited to the related topics discussed in five sections: (1) Overview of the
Financial Statements, (2) Financial Summary, (3) Detailed Analyses, (4) Significant Capital Asset and
Long-Term Financing Activity, and (5) Currently Known Facts, Decisions, or Conditions. The
Statement stresses that detailed analyses should explain why balances and results of operations
changed, rather than stating amounts and "boilerplate" discussions.
This Statement describes unusual or infrequent items as transactions and other events that are either
unusual in nature or infrequent in occurrence. Furthermore, governments are required to display the
inflows and outflows related to each unusual or infrequent item separately as the last presented
flow(s) of resources prior to the net change in resource flows in the government-wide, governmental
fund, and proprietary fund statements of resource flows.
This Statement requires that the proprietary fund statement of revenues, expenses, and changes in
fund net position continue to distinguish between operating and nonoperating revenues and
expenses. The Statement provides clarification regarding operating and nonoperating revenues and
expenses. Also, this Statement requires that a subtotal for operating income (loss) and noncapital
subsidies be presented before reporting other nonoperating revenues and expenses.
This Statement requires governments to present each major component unit separately in the
reporting entity's statement of net position and statement of activities if it does not reduce the
readability of the statements. If the readability of those statements would be reduced, combining
statements of major component units should be presented after the fund financial statements.
This Statement requires governments to present budgetary comparison information using a single
method of communication - RSI. Governments also are required to present (1) variances between
original and final budget amounts and (2) variances between final budget and actual amounts. An
explanation of significant variances is required to be presented in notes to RSI.
GASB Statement No. 103 is effective for fiscal years beginning after June 15, 2025. Earlier
application is encouraged.
Information provided above was obtained from www.gasb.org.
25
City of St. Joseph
Emerging Issues
Accounting Standard Update – GASB Statement No. 104 – Disclosure of Certain Capital Assets
The objective of this Statement is to provide users of government financial statements with essential
information about certain types of capital assets.
This Statement requires certain types of capital assets continue to be disclosed separately in the
capital assets note disclosures including presentation of capital assets by major class and separate
disclosure of lease assets, subscription assets, and intangible right-to-use assets.
This Statement requires additional disclosures for capital assets held for sale. A capital asset is held
for sale if (a) the government has decided to pursue the sale of the capital asset and (b) it is
probable that the sale will be finalized within one year of the financial statement date.
Governments should disclose (1) the ending balance of capital assets held for sale, with separate
disclosure for historical cost and accumulated depreciation by major class of asset, and (2) the
carrying amount of debt for which the capital assets held for sale are pledged as collateral for each
major class of asset.
GASB Statement No. 104 is effective for fiscal years beginning after June 15, 2025. Earlier
application is encouraged.
Information provided above was obtained from www.gasb.org.