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Summary Financial Statement

NOBLES COUNTY, MINNESOTA Summary Financial Statement For the Year Ended December 31, 2021 The purpose of this Report is to provide a summary of financial information concerning Nobles County for interested citizens. Questions about this report should be directed to Amy Dykstra, Finance Director, at 507-295-5135. A FULL AND COMPLETE COPY OF THE COUNTY FINANCIAL STATEMENT CAN BE FOUND ON NOBLES COUNTY’S WEBSITE AT WWW.CO.NOBLES.MN.US/DEPARTMENTS/FINANCE. ONE IS ALSO AVAILABLE UPON REQUEST BY CALLING (507) 295-5135 OR BY WRITING TO THE FINANCE DEPARTMENT AT: NOBLES COUNTY FINANCE DEPT, PO BOX 757, WORTHINGTON, MN 56187 County Officials Administrator, Bruce Heitkamp (507) 295-5201 Commissioners: Elected Offices: 1st District ~ Justin Ahlers (507) 360-7818 Auditor-Treasurer, Joyce Jacobs (507) 295-5258 2nd District ~ Gene Metz (507) 920-8990 Attorney, Joseph Sanow (507) 295-5298 3rd District ~ Bob Paplow (507) 360-4420 Recorder, Thelma Yager (507) 295-5268 4th District ~ Robert Demuth Jr. (507) 360-2411 Sheriff, Ryan Kruger (507) 295-5400 5th District ~ Donald Linssen (507) 360-5234 A Profile of Nobles County Key Indicator Total Current Total Prior Percent Increase/ Decrease Estimated Population 21,991 22,290 -1.34% Total Tax Capacity $41,861,930 $41,362,480 1.21% Percent of Property Tax Collected 99.30% 99.10% 0.20% Revenues: Total Revenues $37,426,335 $35,004,552 6.92% Expenses: Total Expenses $33,625,688 $35,445,722 -5.13% Capital Assets: Governmental Activities $81,029,592 $79,822,175 1.51% Debt: Total Bonds Outstanding $14,270,377 $16,652,087 -14.30% Debt: Loans Payable $526,595 $619,045 -14.93% Debt: Capital Lease Payable $62,826 $135,135 -53.51% Bond Rating on Most Recent General Obligation Bond Issue AA AA Net Assets: Total Government Wide Net Position $98,453,131 $88,832,743 10.83% Total number FT employees 163 164 -0.61% User’s Guide to County Financial Statements The following definitions will help citizens understand the terminology that is used in the county’s financial statement. Basic Financial Statements Nobles County’s basic financial statements consist of three parts: government-wide financial statements, fund financial statements, and notes to the financial statements. The management’s discussion and analysis and certain budgetary comparison schedules are required to accompany the basic financial statements and, therefore, are included as required supplementary information. Government-wide financial statements display information about the county’s financial reporting entity as a whole, except for its fiduciary activities. These statements should present separate information for the governmental and business-type activities of the county (primary government), as well as for its component units. Fund financial statements display separate financial information for the county’s governmental, proprietary, and fiduciary funds. Information for governmental and enterprise proprietary funds is presented separately for major funds and the aggregate total for non major funds. Internal services and fiduciary fund information is presented in aggregate by fund type. Notes to the financial statements provides additional information and disclosure for information in the financial statements. Governmental activities are generally activities of the county financed through taxes, intergovernmental revenues, and other nonexchange revenues. These activities are usually reported in governmental funds and internal service funds. Business-type activities are county activities financed in whole or in part by fees charged to external parties for goods or service. These activities are usually reported in enterprise funds. Financial reporting entity consists of the primary government (county), organizations for which the county is financially accountable, and other organizations for which the nature and significance of their relationship with the county are such that exclusion would cause the reporting entity's financial statements to be misleading or incomplete. The nucleus of a county’s financial reporting entity is the primary government, the county. Primary government is a term used in connection with defining the financial reporting entity. The primary government is the focus of the financial reporting entity. For the county, the primary government represents the financial activities, funds, or accounts directly under the control of the county board. Component unit describes a legally separate organization for which the county board is financially accountable. In addition, component units can be other organizations for which the nature and significance of their relationship with the county are such that exclusion would cause the reporting entity's financial statements to be misleading or incomplete. County Government Fund Types The General Fund is the general operating fund of the county. It is used to account for all financial resources, except those that are required to be accounted for in another fund. Special Revenue Funds are used to account for the proceeds of specific revenue sources that are legally restricted for specified purposes. Debt Service Funds are used to account for the accumulation of resources for, and the payment of principal, interest, and related costs of general long-term debt. Capital Projects Funds are used to account for financial resources to be used for the acquisition or construction of major capital facilities. Other Governmental Funds include all funds that are not required to be presented separately but need be included in the statement to provide a complete representation of the governmental funds. County Proprietary Fund Types Enterprise Funds are used to report an activity for which a fee is charged to external users for goods or services. Internal Service Funds are used to report any activity that provides goods or services to other funds, departments, or agencies of the primary government and its component units, or to other governments, on a cost reimbursement basis. County Fiduciary Funds Investment Trust Funds are used to report governmental external investment pools that are maintained by the county for other entities. Private-Purpose Trust Funds used to report all trust arrangements, other than those properly reported in investment trust funds, under which principal and income benefit individuals, private organizations, or other governments. Agency Funds are used to account for assets held by the county as an agent for individuals, private organizations, other governments, and/or other funds; for example, taxes collected and held by a county for a school district. Character Classification of County Expenditures The county’s governmental expenditures are classified by character or the periods expenditures are presumed to benefit. The county has the following character classifications: Current operating expenditures are presumed to benefit the current fiscal period. Debt services are presumed to benefit prior fiscal periods as well as current and future periods and includes amount expended for the payment of principal, interest, and other costs associated with debt. Capital outlays are presumed to benefit current and future fiscal periods and include amounts expended for the construction or acquisition of county capital assets. Intergovernmental represent resources transferred by to the county to other governments. Classification of County Functions Functions are a group of related activities aimed at accomplishing a major service or regulatory program for which the county is responsible. The county has the following function classifications: The General Government function includes expenditures for county activities such as the county commissioners, county administration, county attorney’s office, county auditor’s office, county assessor’s office, the judicial (excluding the county jail), the planning and zoning office, and other county general service offices. Public Safety relates to the protection of persons and property and includes expenditures for corrections activities, operations of the sheriff’s department, the county jail, civil defense, and emergency services. Highways and streets include expenditures relating to the construction and maintenance of county highways and streets. Sanitation involves expenditures for the removal and disposal of waste and includes county solid waste collection and disposal, recycling, and sanitary sewer programs. Human Services involves all activities designed to provide public assistance and institutional care for individuals unable to provide essential needs for themselves. These programs include child support collection, child welfare, chemical dependency, medical assistance, and others. Health involves all activities involved in the conservation and improvement of public health. This function includes expenditures for the county public health department, home health aid services, other nursing services, maternal and child health, supplemental nutrition programs, and programs to protect public and private water systems. Culture and recreation involves cultural and recreational activities maintained for the benefit of county residents and visitors. These activities include county libraries, parks and other recreation programs. Conservation involves activities designed to conserve and develop such natural resources as water, soil, and forests and includes such programs as soil and water conservation, county extension, water planning, and others. Economic Development activities are directed toward economically developing the area encompassed by the county and providing assistance to, and opportunity for, economically disadvantaged persons or businesses. Balance Sheet Statement of Revenues, Expenditures, and Changes in Fund Balances Statement of Net Position Statement of Activities MAJOR RECIPIENTS OF NOBLES COUNTY EXPENDITURES The following is a list of the recipients of Nobles County expenditures totaling $5,000 or more during 2021. The list does not include salaries paid to county employees nor does it include individuals who received federal, state or county human services aid. However, this list does include property tax settlements.