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HomeMy WebLinkAbout1943_VILLAGE OF EDINA_AUDIT REPORT�.J ri AUDIT REPORT For the Year ceded December 31, 1943 COUNTRY CLUB DISTRICT SERVICE COMPANY (A Corporation) Minneapolis, Minnesota f s u Country Club District Service Company TABLE OF, CONTENTS PAGES 1 TO 7 - Letter of Transmittal and Comments PAGE 8 -- Certificate EXHIBIT A - Balance Sheet, as at December 31, 1943 EXHIBIT B - Analysis of Earned Surplus, for the year ended December 31, 1943 EMBIT C - Profit and Loss Statement, for the year ended December 31, 1943 SCHEDULE C-1 - Operating Costs and Expenses, for the year ended December 31, 1943 SCHEDULE A -1 - Fixed Assets and Depreciation, for the year ended December 31, 1943 SCHEDULE A -2 - Notes Payable, as at December 31, 1943 0 1 ri ALBERT B.AUSTIN,C.P.A. AUSTIN & COMPANY CERTIFIED PUBLIC ACCOUNTANTS ROANOKE BUILDING MINNEAPOLIS Xr. Oscar Gaarden, President . Country Club District Service Company Minneapolis 10, Kinnemota, Dear sir: 1ky 29, 1945 We have Made an examination of the books and records of the COUNTRY CLUB DISTRICT SERVICE COMPANY, a Minnesota corporation, MINNEAPOLIS, ]MINNESOTA, for the year ended December 31, 1943, and we are pleased to submit our report in the following comments and in the Exhibits and Schedules as listed in the preceding Table of Contents. HISTORICAL A complete history of the company was set forth in our report for the year ended December 31, 1940, and subs3guenL data is i.ncludod i.a our reports for the years ended December 31, 1941, and Dan.e_-mber 31, 19, 42. Anyon3 interested in the history of the company prior to the beginning of this year may refer to these reports. As stated in the previous report for the year ended December 31, 1942, the Supreme Court of the State of Minnesota had handed down a decision rbi.ch was filed on January 2, 1943, in which the company was refused rental for hydrant service prior to March 25, 1939. The court also held.that a portion of the water wins and storm sewers serving the lots sold prior to October 1, 1935, located in the Brovrn, and Fairway sections of the Country Club District was the property of the Village of Edina for the benefit of the lot owners. The decision was so worded as to be not entirely clear, and therefore, the company and the village could not agree upon its interpretation. There has been no change in this situation during the current year, and aa.a result of this decision, the values as stated in this report do not necessarily represent the true values of the properties of the company, and until such time as these values are definitely determined and segregated, we have not disturbed the values as they appear on the books of the THE PUBLICATION OF ANY CONDENSATION OR MODIFICATION OF STATEMENTS HEREIN CONTAINED OR THE USE OF OUR CERTIFICATE DETACHED FROM ITS CONTEXT. OR THE USE OF OUR NAME IN CONNECTION WITH THE SALE OF SECURITIES OR OTHER PUBLICITY WILL NOT BE SANCTIONED UNLESS FIRST SUBMITTED FOR OUR APPROVAL. -2- Country Club District Service Company company. Due to the conditions brought about by the war, there hwe been no new buildings erected in the district during the past year, and therefore there have been no new additions to the operating properties of the company. FINANCIAL POSITION We are submitting as Exhibit A and supporting Schedules A-1 and A-2, the Financial Position of the company in detail as of December 31, 1943, subject, however, to the preceding comments under the caption "Historical,," and subsequent comments following in the report. For your convenience, we are submitting in summarized form this Balance Sheet in comparison with the one for December 31, 1942, together with increases and decreases as follows: DECEMBER 34 DECEMBER 31, INCRUSB ASSETS 1 9 4 3 1 9 4 2 DEMUSE Fixed Assets 172,677.71 $ 177,411.40 $ 4,733.69 Investments 256.24 256.24 - - Current Assets 9,751.20 5,790.15 961.05 Deferred Charges 61.20 15.00 43.20 TOTAL ASSETS $ 182.746.35 & 1861I475.79 72 46 LIABILITIES AND NET WORTH Fixed Liabilities 22,372.33 24,428.49 # 2, 056.16 Current Liabilities 4,345.03 4,549.55 204.52 Net'Worth A6,028.99 157,497.75 1,468.76 TOTAL LIABILITIES AND N9T WOffiiJ.J& 7 1861675.79 1 2l7il l Due to conditions brought about by the war and the fact that there has been no extension in the services of the company.,-there are no significant changes in the Balance Sheet of the Company. The Surplus account totalling $137,328.99 is classified as follows: Capital Surplus $ 117,494.77 Contributions in Aid of Construction 14,901.53 Earned Surplus 4,932.69 Total 112722 For a full explanation of the capital surplus, please refer to our report of December 31, 1940• Contributions in Aid of Construction in the amount of $14,901.53 represents money contributed to the company for the extension of service facilities -3- Countr y Club District Service Company that become the property of the company, and therefore are included in its plant values. The Earned Surplus totalling $L ,,932.69 is set forth in detail in Exhibit B. Which shows that it was decreased to the extent of $4568.76, which is mainly brought about by the net loss for the year. OPERATIONS The Operations for the year ended December 31, 1943, are shown in detail ; • in Exhibit C and supporting Schedule C-1, and shows a net loss of $1,123.92 after providing for interest charges and depreciation. In arriving at these figures,, depreciation in the amount of $41,754.74 has been included. In order that you may I* have a better understanding of the operations for the year, we submit a condensed comparison for the current year and for the year ended December 31, 1942# togeth4t with increases and decreases in both amounts and percentages as follows: DECUMER 31, 1943 DECMER 31. 1942 INCREASE - DECREASE % % % AMOUNT SALES AMOUNT SALES AMOUNT SALES SALES S 18,,369=34 100.00 t 18.238.2 10 0.00 6 9.37 - - OPERATING COSTS AND EXPENSESs Water Purchased for Resale $ 306.88 1.69 360.48 1.98 53.60 .29 Power and Pumping 5,254.88 28.92 59239.44 28.73 15.48 .19 - Distribution Expense 4553.83 25.06 4,7 ©7.25 25.81 153.42 '.75 j AccountinIg e4nd Collection 3,692.79 20.32 3055.34 19.49 137.45 .83 • Administrative and General 4.712.61 25.94 4.023.12 22.06 689.40 L.88 • TOTAL OPERATING COSTS AND EXPENSES 18.520.99 101.93 4 17.885.59 98.07 S 635 3.86 NET PROFIT BEFORE INTEREST 351.6 1.93 353.12 1.93 $ 704.77 3.86 INTEREST PAID 772.27 -- 4.25 952.23,^ 5.22 179,96 .97 NET PROFIT OR LOSS $ 1.123.92.�5� It will be noted from the foregoing comparison that the revenue during the year was substantially the same as the previous year, but the operating costs were -4 -. Country Club District Service Comoany. . substantially increased before provision for interest. No provision for income taxes was set up for the year ended December 31, 1943. 0 C OURNTS ON BALANCE SHEET FIXED ASSETSs We are showing the Fixed Assets in summarized form on the Balance Sheet, Exhibit A, and in still further detail in Schedule A-1. The new expenditures during the year were additions to the buildings in the amount of $21.05. Depreciation in the - amount of 64,754.74 has been taken into operating expenses. The Fixed Assets of the company have been pledged to the St. Paul Fire and Marine Insurance Company for a loan in the original amount of $20,000.00, with a present balance of $14,000.00 bearing interest at 5 %• This loan is payable at the rate of 61,000.00 per year on November 1, with interest payable semi - annually up to November 1, 19519 and the balance of 66,000.00 is payable on November 1, 1952. The company has extended cervica into newly developed subdivisions,. and agreements were reached with -she promoters of these subdivisions to furnish money for the extending of the water mains without interest. The company repays these advances by returning to the subdividers one -half of the revenue received from the users of these mains until paid for, but in no event are repayments made for a period to exceed 10 years. The company now has advances for construction.repayable out of revenue as of December 31, 1943, as follows: ' ADVANCED BY THORPE BROS., INC: Wooddale Section $ 4,071.87 Bruceuood Addition 2,740.61 Arden Avenue 9atensidn 215.95 Portion of East Sunnyslope 1,309.41 ADVANCED BY WHITE INVEST MT COMPANY: Hidden Valley 1.034. -49 Total j 9J72.22 Of these advances the one made by Thorpe Bros. for the Aooddale section with a present balance of $4,071.07 is repayable by diverting to Thorpe Bros. one- half of the revenue received from the section up to March 31, 1948, and the amount -5= Country,Club District.Seryice.Company remaining unpaid,. ifrany,; at that time,.. becomes payable in. full by the. , company to Thorpe Bros. The other adta ces,are payable only by the diversion:of 50% of the revenues from these subdivisions -for the.first.10 years unless.they are fully.paid up prior to that time, and any balances remai.ning.at the,end.of.l0.years_ becomes a contribution to the company in aid of construction.. In addition -to the above.amounts,referred . to,, the company has received, contributions in..aid.of construction -.for specific extensions which certain customers • wanted. These contributions were.. outright gifts into the. company in order to''secure water service, and we. have taken,.them in as. part ,of the. surplus. The extensions. covered by these.contr butions become,the.pr..operty of the-company .and.are included, ii their,Fixed.Assets::., CURUEIITT .ASSETS: The cash in bank in the "amount of 06,396,i." is de sited- with, the No western National Bank of ®inneapoli.s, , and to . have. roconeiled this amount and ,:verified _ the balance by direct corrsppondence.. Me have also made-'a-detailed check..of all.. deposits and. vithdra vals froki the bank and found them :to be, properly recorded and in order. The Accounts Receivable in the,amoOnt of 62,649.94 have been classified on the Balance-Sheet-,as to their nature.. We have made a ;detailed check;of these accounts. and have reviewed the.methods ueed'to handle them and found them.to'be in good order. The-Inventories amounting to.6704.$2 are classified on the Balance Sheet. We were not .present.when,the.Inventoriee were taken, but we have examined records of the company with regard to these . inventories, and they, appear, to be proper. - We noted that certain of the- meters: were ' secondhand, but these secondhand meters are.-carried at a much reduced cost so that the values appear, to ,be conservative -, FIXED LIABILITIES: • The company neg 'otiated a first more a e..on its o eratin g.P ro erties as.of November 1,.1937, -with the SU -Paul Fire and Marine Insurance Company in;the..total amount of 620,000.00, bearing interest at 5 %, which int4reat_is payable on Vey 1,- and November 1, of each year. The principal is payable 61.,000.00 annually up to Country Club District Service Company November 1, 1951, and the remaining. $6,000:.00 becomes due.and payable on November 1, 1952• The present unpaid balance of this mortgage is $L4,000.00, and of this �1 amount we have placed $1,000.00 among the Current Liabilities as it becomes due on November 1, -1944• The balance of fixed Liabilities totalling $9,372:33 is made up of advances for construction charges repayable out of revenues over a period of years as explained in a previous paragraph.. CURRENT LIPaILITIE: , The Accounts Pe-yable are classified"as followsa Refund of Construction Advances 1,056.16 Income Tax Withheld on Wages 246.55 To Officer 48.09 Total l 0.80 There were no trade accounts unpaid as of the'end of the year. The refund of construction advances are the payments due out of revenues to subdividers for the period ending December 31, 1943,-as explained in a previous paragraph: We have made an analysis of this,account and found it.to be correct. The atiount of $48.09 due-to officer is_ ;owing to W. � Oscar. ;Gaarden for miscellaneous items-which he has paid out of-pocket during the'month of.December and has rendered his bill: to the company for reimbursement. We are showing a list of accrued taxes in the amount of $1.207425• These taxes are all applicable to 1943, payable in 1944. The accrued interest payable is itemized.in Schedule A-2,, and notes payable to officers are also itemized in Schedule A -2. NET WORM The particulars of Net 'forth are set forth on the Balance Sheet, Exhibit A, and the changes in Earned Surplus are set forth in Exhibit B.. Net Worth is subject to revision to give effect to the Supreme Court decision as discussed elsewhere in this report. All.of the capital stock outstanding is held by Mr. Oscar Gaerden. The preferred stock provides for 6% annual cumulative dividends, and these dividends are five years in arrears, Which makes a total of $30.00 per share, or 03,600.00 in all. The Surplus account has been classified on the Balance Sheet, and it 7— Country Club District Service Company totals 4137,328.99• These classifications are explained in a previous paragraph. We found that the company keeps very accurate and complete records, so that full information on all of the activities is readily available. We wish to express our appreciation of the courtesies extended and the cooperation afforded us during the course of this engagement. • Respectfully submitted, Certified Public.Aeeountants 41 L� THE PUBLICATION OF ANY CONDENSATION OR MODIFICATION OF STATEMENTS HEREIN CONTAINED OR THE USE OF OUR CERTIFICATE DETACHED FROM ITS CONTEXT. OR THE USE OF OUR NAME IN CONNECTION WITH THE SALE OF SECURITIES OR OTHER PUBLICITY WILL NOT BE SANCTIONED UNLESS FIRST SUBMITTED FOR OUR APPROVAL. AUSTIN Sc COMPANY CERTIFIED PUBLIC ACCOUNTANTS ROANOKE BUILDING MINNEAPOLIS •ALBERT B. AUSTIN, C. P.A. - CERTIFICATE We have made an .examination of the Balance, Sheet -of the 'COUNTRY CT,UB . DISTRICT SERVICE .COVANY,.MINNEAPOLIS, MINNESOTA, as at December 31, 191x3, and of the Statement of Income and Surplus for the calendar year ended December 31, 7 . 19434 In connection tierewith`,we have examined or,tested accounting records of the.company and other- supporting evidence and obtained information and explan- ations from officers of the company, ,_rut we did`hot� make a, detailed audit of the transactions, In our opinion, based upon such examination and subject to the comments .contained in this report, the \aocompany ng`13a1ance Sheet and related Statement of.Income and Surplus fairly y pr ®sent, in accordance . ssr9,th accepted .principles . of accoupting.consistently maintained by the COUNTRY CLUB•DISTRICT SERVICE COMPANY during the calendar year under review, its position at December 31, 1943, and ' the results of the operations for the year. Respectfully submitted, Certified Public Accountants June 4, ,1945 THE PUBLICATION OF ANY CONDENSATION OR MODIFICATION OF STATEMENTS HEREIN CONTAINED OR THE USE OF OUR CERTIFICATE DETACHED FROM ITS CONTEXT. OR THE USE OF OUR NAME IN CONNECTION WITH THE SALE OF SECURITIES OR OTHER PUBLICITY WILL NOT BE SANCTIONED UNLESS FIRST SUBMITTED FOR OUR APPROVAL. ASSETS FIND ASSETS; Note A Schedule 4 -1 Land 'Hells, Building,. Tank, Distribution System, Tools and Equipment Less: Accumulated Depreciation (Including $29,178.19 accrued at date of appraisal) TOTAL FIRED ASSETS f iET) Country Club District Service Company BALANCE SHEEP As at December 31, 1943 $ 3,000.00 $ 230,846.53 61.168.82 169.677.71 The above valuations were based on Independent appraisal as of January 1, 1937, plus subsequent additions at cost. The above assets are pledged to secure a 5% First Mortgage, originally $24,000.00, now $14,000.00. INVESTMENTS: 100 Shares Yorthern States Power Common, CURRENT ASSETS: Cash on Hand and in Bank Accounts Receivable - Dater Sewer Construction Contributions Miscellaneous Inventories - Meters Miscellaneous TOTAL CURRENT ASSETS DEFERRED CHARGES: Unexpired Insurance $ 106.87 �,• 33 1,938.'74. 600.00 $ 6,396.44 2,649.94 $ 506.62 193..20 704.82 $ 172,677.71 NOTE A In a Minnesota Supreme Court decision handed down and filed on January 2, 1943, the court held that the water mains and sewers serving the lots in the Brown and Fairway sections of the Country Club District sold prior to October 1, 1935, were the property of the village of Edina for the benefit of the lot owners. However, the decision is not clear, and until such time as the values are definitely determined and segregated.. we are not disturbing the values as they appear on the books of the company, and the values as stated in this report do not.necessarily represent the true values of the properties of the company. However, any property installed prior to the present ownership not covered by the decision and all additions and installations made subsequently are included in the capital accounts and are the property of the company. NOTE B - Accumulated dividends an Preferred Stock to the extent of $30.00 per share or a total of $3,600.00 as at December 31, 1943, are unpaid. TOTAL ASSETS 256.24 9,751.20 61.20 1 182.746.35 Exhibit A LIABILITIES AND NET WORTH FIRED LIABILITIES: 5% First Mortgage dated November 1., 1937 to St. Paul Fire and Marine Insurance Company, due $1,000.00 annually on November 1, of each year to November 1, 1951,"and $6,000.00 on November 1, 1952• Secured by all operating properties. Original amount $20,000.00, now Less: Due within one year, (shown in Current Liabilities) Advances for Construction - Payable from Revenues - Due March 1, 1948 Payable only to extent of 50% of revenue during 10 years after construction TOTAL FIXED LIABILITIES CURRENT LIABILITIES: Accounts Payable,.- Refund of Construction Advances Income Taxes withheld on wages To Officer Accounts Receivable - Credit Balances Accruals - Interest Payable - Schedule A -2 Taxes - Real Estate Personal Property Capital Stock Tax Social Security Taxes Notes Payable - To Officer - Schedule A-2 Current Maturity - First Mortgage Due November 1, 19" (See above) TOTAL CURRENT LIABILITIES NET WORTHS Capital Stock - Authorized - 6% Cumulative Preferred, $100.00 Par Value, Callable at Par Common Stock, No Par Value Capital Stock - Outstandin - Preferred - 120 Shares See Note B) Common - 200 Shares Surplus- . Capital Surplus Contribution in Aid of Construction Earned Surplus TOTAL NET WORTH $ 14000,00 1.000.00 $ 13,000.00 $ 4,071.87 $ 1,056.16 246.55 48.09 1,350.80 10.31. $ 176.67 176.67 177.02 944.88 56.25 . 29.10 1,207.25 $ 600.00 1,000.00 1.600.00 $ 30,000.00 200 Shares $ 12,000.00 6.700.00 $ 18,7004,00 $ 117,494.77 14,901.53 4,932.69 TOTAL LIABILITIES AND NET WORTH 137.328.99 $ 22,372.33 4,345.03 156,028.99 1 182,746.35 1 Country Club District Service Company ANALYSIS OF EARNED SURPLUS For the Year Ended December 31, 1943 Exhibit B 0 BALANCE PER AUDIT REPORT. DECEMBER 31, 1942 4 6001.45 ADD: Reversal of Accrual for Moneys and Credit Tax 8.00 6,509.45 DEDUCT: Net Operating Loss for Year 21,123.92 Adjustment of Sewer Accounts Receivable 427.77 Adjustment of Mdter Inventory to Actual 25.07 1.576.76 19 TOTAL, EARNED SURPLUS, PER MMBIT A 14,222. 6 10 • 0 40 If Exhibit 0 Country Club District Service Company PROFIT AND LOSS STATEMENT For the Year Ended December 31, 1943 OPERATING REVENUES: Sales and Services to Customers $ 18,163.36 Miscellaneous Revenues (Net) 5.98 GROSS REVENUES 180169.34 OPERATING COSTS AND MIPE+iSES» - Schedule C -? Dater Purchased for Resale 306.88 Power and Pumping 5,254." Distribution Expense 4053.83 Accounting and Collection 3,692.79 Administrative end General _ 4.712610 TOTAL OPERATING COSTS AND EXPENSES 18,520.99 NET OPERATING LOSS $ 351.65 INTff,EST CHARGES 772.27 NET LOSS, Per Exhibit S 8 1,123.92 Provision for Depreciation Included Above # 4.754.74 n Country Club District Service Company OPER&TING.COSTS AND EXPENSES For the Year Ended December 31, 1943 Schedule C -1 WATER PURCHASED FOR RESALE $ 306.88 POORER AND PUMPING Power Purchased $ 2,498.00 . operating Labor 392.15 Depreciation 1,045.43 Local Taxes 1,121.90 Supplies and Expense 142.45 Maintenance 54.95 TOTAL POWER AND PUMPING 5,254.88 DISTRIBUTION EXPENSES: Depreciation 3,691.76 Maintenance of Mains 245.41 Services on Consumers Premises 389.40 Operation of Distribution Linea 227.26 TOTAL DISYRIBUTION EXPENSES 49553-83 ACCOUNTING AND'COLLECTION: Meter Reading 224.50 Billing and Accounting 2,633.75 Miscellaneous 834.554 TOTAL ACCOUNTING AND COLLECTION 3,692.79 ' ADMINISTRATIVE AND GENERAL: Salaries and pages 1,623.50 Miscellaneous 1,961.30 4 Insurance 21.75 Expenses of General Officers 32 56y/ Office Supplies and Expense 12.23 ✓ Legal 875.00 Federal Capital Stock Tax 123.75/ Payroll Taxes /,4.97 Depreciation on Office Equipment 17.55, TOTAL AFMNISTRATIOE AND GENERAL 4.712.61 TOTAL OPERATING COSTS AND EXPENSES Per Exhibit 0 1 182520.99 WATER DIVISIONS Land Buildings 'Well #1 Well #2 Elevated Tank and Piping Pumping Equipment Water Distribution'System TOTAL ''WATER DIVIDION Si DIVISION Sanitary Sever System Storm Sewer System TOTAL SEWER DIVISION MISCELLANEOUS Miscellaneous Toole and Equipment office Furniture and Equipment TOTAL MISCELLANEOUS TOTALS TOTALS PER EXHIBIT A Country Club District Service Company FIXED ASSETS AND . DE''RECT9�TION Year Ended December 31, 1943 BALANCE BALANCE k_1=42 ADDITIONS REDUCTIONS 12-31-43 $ 3,000.00 $ - - 3,000.00 21688.35 21.05 - - 2,109.40 2,578.27 - - - - 2,578.27 1,950.00 - - _ _ 1,950.00 10,053.34 - 10,053.34 8,709.28 -• _ _ 8,709.28 121.182.66 - - - - 121.182.66 156_ 21.0 - 149.582.95 51,522.79 - - -- - 4 51022.79 32.079.68 - - - _ - - 32,079.68 83.602.47 - - 4 83..602.47 485.61 $ - - t - - $ 485.61 175.50 - - 175.50 - -- 661 11 661.1.1 233.825.E ' 21 O - - 233.846.53 BALANCE - BALANCE RATE 11 CURRENT DEDUCTIONS 12--31-A3- NOTE A - The above assets mortgaged to the St. Paul Fire and Marine Insurance` Company to secure a loan bearing interest at 5% in an original amount of $201,000.00, now $14,000.00 NOTE B --The values as shown above are subject to amendments to give effect to the Supreme Court decision as referred to elsewhere in this report. 1. Schedule A-1 DEPUCIATED VALUE # 3,000.00 1,472.42 2,234.50 1,738.75 4,136.10 5,870.61 96.662.70 1 115.115.08 35,627.30 21.621.60 •;r 227.43 -- 86.30 I 313.73 $ 172,677.71 %L- $ -- 6 -- $ 1 2/3% 553.17 .300.80 83.81 42.97 636.98 - - 343.77 1 2/3% 4% 178.75 5,515.11 -32.50 4x2.13_ - - 211.25: - - 5,917.24 5% 1 2/3, 2,403.21 22.500.25 435.46 2.01 .71 - - 2,838.67 -- 24.519.96 4 31.451.29 J 24016-5§ - $ 34.467.87 2% 2% $ 14,865.03 _ 9._8.16.49 $ 1,030.46 641.59 15,895.49 10458.08 l x.672. 0 - A 26 10% 10% 209.62 71.65 48.56 17.55 258.18 89.20 281.27 $ 66.11 _ -ms s 347.38 1 56.414.08 4 404--YA - $ 61.168.82 NOTE A - The above assets mortgaged to the St. Paul Fire and Marine Insurance` Company to secure a loan bearing interest at 5% in an original amount of $201,000.00, now $14,000.00 NOTE B --The values as shown above are subject to amendments to give effect to the Supreme Court decision as referred to elsewhere in this report. 1. Schedule A-1 DEPUCIATED VALUE # 3,000.00 1,472.42 2,234.50 1,738.75 4,136.10 5,870.61 96.662.70 1 115.115.08 35,627.30 21.621.60 •;r 227.43 -- 86.30 I 313.73 $ 172,677.71 e 0 I* Country Club District Service Company .NOTES PAYABLE As, at December 31, 1943 DATE PAS, YEE UE RATE AMOUNT 12 -31 -41 Oscar Gaarden I2 -31 -42 5% 600.00 TOTAL PER ffi-IIBIT A Li2o .00 ADDITIONAL ACCRUED INT31EST On First Mortgage 145000.00 at 5% two months TOTAL ACCRUED nTEREST - PER EMBIT A Schedule A-2 ACCRUED INTEREST 60.00 ]16.67 176.6