HomeMy WebLinkAbout1967 Financial StatementsAUDITED FINANCIAL STATEMENTS
AND OTHER FINANCIAL INFORMATION
VILLAGE OF EDINA, MINNESOTA
December 31, 1967
INDEX
ACCOUNTANTS' REPORT ON AUDITED FINANCIAL STATEMENTS........ PAGE 4
COMMENTS AND ACCOUNTANTS' REPORT ON OTHER FINANCIAL
INFORMATION................ ...............................
FUNDBALANCE SHEETS ......... ...............................
GENERAL FUND:
BALANCESHEET ..:.......... ...............................
STATEMENTOF SURPLUS ...... ...............................
ANALYSIS OF CHANGE IN CASH BALANCE .......................
REVENUE................... ...............................
EXPENDITURES.............. ...............................
CENTRALSERVICES .... ............................... ....
FIXEDASSETS .............. ...............................
BONDSPAYABLE ............. ...............................
POOR FUND:
BALANCESHEET ............. ...............................
STATEMENT OF SURPLUS - UNAPPROPRIATED ....................
STATEMENT OF REVENUES AND EXPENDITURES ...................
ANALYSIS OF CHANGE IN CASH BALANCE .......................
PARK FUND:
BALANCESHEET ............. ...............................
STATEMENT OF'UNAPPROPRIATED SURPLUS ......................
ANALYSIS OF SURPLUS INVESTED IN FIXED ASSETS .............
ANALYSIS OF CHANGE IN CASH BALANCE .......................
REVENUEAND EXPENDITURES .. ...............................
FIXEDASSETS .............. ...............................
SWIMMING POOL FUND:
BALANCESHEET ............. ...............................
STATEMENTOF SURPLUS ...... ...............................
ANALYSIS OF CHANGE IN CASH BALANCE .......................
STATEMENT OF INCOME AND EXPENSE ..........................
STATEMENT OF INCOME AND EXPENSE (CONCESSIONS ONLY).......
FIXEDASSETS .............. ...............................
GOLF COURSE FUND:
BALANCESHEET ............. ...............................
STATEMENTOF SURPLUS .. .......................... ......
ANALYSIS OF CHANGE IN CASH BALANCE .......................
STATEMENT OF INCOME AND EXPENSE ..........................
STATEMENT OF INCOME AND EXPENSE - OPERATING DEPARTMENTS..
FIXEDASSETS .............................................
BONDSPAYABLE ............. ...............................
RECREATION.CENTER FUND:
BALANCESHEET ............. ...............................
STATEMENTOF SURPLUS ......................... ...........
ANALYSIS OF CHANGE IN CASH BALANCE .......................
STATEMENTOF INCOME.AND EXPENSE ..........................
FIXEDASSETS .............. ...............................
BONDSPAYABLE ............. ......................... ......
9
11
12
13
14
15
18
19
20
21
22
22
23
24
25
25
26
27
28
29
30
31,
32
33
34
35
36
37
38
40
41
42
43
,44:...._..
45
46
47
48
INDEX (Cont'd)
PARK.:SINKING FUND:
BALANCESHEET.... ....................................... PAGE 49
STATEMENTOF SURPLUS ...... ............................... 50
ANALYSIS OF'CHANGE IN.CASH BALANCE ....................... 51
BOND AND INTEREST MATURITIES AND DEFERRED TAX
LEVIES................... ............................... 52
PARK.CONSTRUCTION FUND:
BALANCESHEET ............ ............................... 53
ANALYSIS OF RESERVE FOR CONSTRUCTION ..................... 54
ANALYSIS OF CHANGE IN CASH BALANCE ....................... 55
FIXED ASSETS .............. ............................... 56
IMPROVEMENT FUNDS:
COMBINEDBALANCE SHEET .... ............................... 58
STATEMENT OF SURPLUS - UNAPPROPRIATED .................... 59
ANALYSIS OF CHANGE IN CASH BALANCE ....................... 60
BONDSPAYABLE ............. ............................... 62
WATERWORKS FUND:
BALANCESHEET .............. .......................,....... 63
NOTESTO BALANCE SHEET .... ............................... 64
STATEMENT OF SURPLUS ...... ............................... 65
STATEMENT OF INCOME.AND EXPENSE .......................... 66
ANALYSIS OF CHANGE IN.CASH BALANCE ....................... 68
FIXEDASSETS .............. ............................... 69
SEWER .RENTAL FUND:
BALANCESHEET ............................................. 70
STATEMENTOF SURPLUS ( DEFICIT ) ............................ 71
STATEMENT OF INCOME AND EXPENSE .......................... 72
ANALYSIS OF CHANGE IN CASH BALANCE.. ..................... 73
FIXEDASSETS .............. ............................... 74
LIQUOR DISPENSARY FUND:
BALANCESHEET ............. ...............................
STATEMENTOF SURPLUS ...... ...............................
STATEMENT OF INCOME AND EXPENSE ..........................
OPERATINGEXPENSES ........ ...............................
ANALYSIS OF CHANGE IN CASH BALANCE .......................
FIXEDASSETS .............. ...............................
GENERAL:
CASH- ALL FUNDS .......... ...............................
SECURITY FOR DEPOSITS ..... ...............................
INVESTMENTS................ ...............................
TAXABLE VALUATIONS, TAX LEVIES AND RATES .................
OFFICIALBONDS ............ ...............................
INSURANCECOVERAGE ........ ...............................
ORGANIZATION.............. ...............................
75
76
77
78
79
80
81
82
83
84
85
86
88
ERNST & ERNST
FIRST NATIONAL BANK BLDG
MINNEAPOLIS, MINN. 55402
ACCOUNTANTS' REPORT ON AUDITED FINANCIAL STATEMENTS
To the Village Council
Village of Edina, Minnesota
We have examined the balance sheets of the various funds of.the Village of Edina,
Minnesota as of December 31, 1967 and the related statements of revenues and
expenditures or income and expense and surplus for the year then ended. Our
examination was made in accordance with generally accepted auditing standards,
and.accordingly included such tests of the - accounting records and such other
auditing procedures as we considered necessary in the circumstances.
In our opinion, the accompanying balance sheets and statements of revenues and
expenditures, income and expense and surplus present fairly the financial posi-
tion of the Village of Edina at December 31,'1967 and its various special funds
and the results•of their operations for the year then ended, in conformity with
generally accepted accounting principles applied on a basis consistent with that
of the preceding year.
Minneapolis, Minnesota
May 3, 1968.
-4-
ERNST & ERNST
F I R S T N AT 10 N A L BAN K B L D G.
MINNEAPOLIS, MINN. 55402
COMMENTS AND ACCOUNTANTS' REPORT ON OTHER FINANCIAL INFORMATION
Village of.Edina
Edina, Minnesota
The audited financial statements of the various funds of the Village consisting
of balance sheets and statements of revenues and expenditures or income and expense,
and surplus and our report thereon are presented in appropriate sections of this
report. Financial information not specifically referred to above and financial
information contained in the following comments, except the schedules of security
for deposits, taxable valuations, tax levies and rates, official bonds, insurance
coverage and organization, was derived from the accounting records tested by us
as part of the auditing procedures followed in our examination of the aforementioned
financial statements and, in our opinion, it is fairly presented in all material
respects in relation to the financial statements taken as a whole; however, it is
not necessary for a fair presentation of the financial position and results of
operations of the Village.
The information shown in the schedules of security for deposits, taxable valuations,
tax levies and rates, official bonds, insurance coverage, and organization was
prepared from information furnished to us by the Village, but we did not make
independent tests of the schedules as they do not involve information which enters
into the financial statements.
The following comments set forth certain auditing procedures and other matters
pertinent to our examination:
Cash on deposit at.December 31, 1967 was reconciled to balances reported directly
to us by the various depositories. Cash working funds and cash on hand for de-
posit at December 31, 1967 were counted by us.
Cash receipts and cash disbursements procedures were reviewed and tested by us
for selected periods during the year to determine that proper procedures were
being followed to control recording of receipts and that proper authorization
was provided for disbursements.
Village of Edina securities held for investment by the several funds of the Village
were inspected by us, and related interest income computations were tested.
Amounts receivable from water and sewer rental charges at December 31, 1967 were
tested by direct correspondence and by review of the records for subsequent col-
lections. Differences reported were not material and were explained to our satis-
faction.
-5-
Current and delinquent taxes and special assessments and tax settlements received
during the year were confirmed by direct correspondence with the County Auditor.
We reviewed delinquent taxes reported to us and adjusted the balances to conform
to the County Auditor's balances. Transactions: pertaining to special assessments
receivable were reviewed.
Interfund transfers:rand charges and interfund balances were reviewed by us.
We were present at the municipal liquor stores at the time physical inventories
were taken. We observed inventory procedures used by Village employees and tested
quantities by independent count of items selected by us. Inventory valuations
were tested by reference to vendors' invoices and by tests of clerical accuracy.
Additions to and disposals from fixed asset accounts were reviewed by us and veri-
fied by inspection of contracts, invoices or other data. Allowances for deprecia
tion charged to operating funds of the Village were reviewed by us.
We tested accounts payable by direct correspondence and by reference to disburse-
ments subsequent to December 31, 1967.
All canceled bonds redeemed and paid during 1967 were inspected by us. We inspected
interest coupons redeemed and paid during 1967 on a test basis.
Official minutes of the Village Council for 1967 were read by us.
Copies of licenses and permits issued during the year were tested to recorded col-
lections.
Recreational facilities, except for equipment, of the Swimming Pool Fund, Golf
Course Fund and Recreation Center Fund are not depreciated.
COMMENTS ON FINANCIAL STATEMENTS
GENERAL FUND
Detail schedules reflecting activity and status of this fund are shown on pages 11
to 20, inclusive, of this report.
POOR FUND
Reference is made to detail schedules elsewhere in this report as to operations
of this fund. Such details appear on pages 21 to 23, inclusive.
PARK FUND
Reference is made to detail schedules elsewhere in this report as to operations of
this fund. Such details appear on pages 24 to 28, inclusive.
SWIMMING POOL FUND
Detail schedules outlining financial operations of this fund are shown on pages 29
to 34, inclusive, of this report. The net income of $0,579.48 is after the
provision of $6,715.50 for interest on bonded debt issued for the swimming pool
facilities, and the provision of $380.24 for depreciation on swimming pool
equipment.
GOLF COURSE FUND
Net revenues of the Liquor Dispensary Fund are pledged to secure the payment of
obligation of the Golf Course Fund. Detail schedules outlining financial opera-
tions of this fund are shown on pages 35 to 42, inclusive, of this report. The
net income of $34,387.14 is after the provision of $25,871.00 for interest on
bonded debt issued for the golf course facilities, and the provision of $4,613.00
for depreciation on golf course equipment. $25,000.00 of the bonded debt matured
and was redeemed in.1967.
RECREATION:CENTER FUND
Net revenues of the Liquor Dispensary Fund are pledged to secure payment of
obligation of the Recreation Center Fund. Detail schedules covering operations of
this fund appear on pages 43 to 48, inclusive. The net income of $15,531.5&7.is
after the provision of $14,126.42 for interest on bonded debt issued for the
recreational center facilities and the provision of $2,168.36 for depreciation on
recreational center equipment.
PARK SINKING FUND
Reference is made to detail schedules on pages 49 to 52, inclusive, of this report
as to the operations of this fund.
PARK CONSTRUCTION FUND
Reference is made to detail schedules in this report as to operations of this
fund. Such details appear on pages 53 to 57, inclusive. Fixed assets for park
purposes amounting to $287,819.63 were purchased during the year. Funds were made
available from an.$80,000.00 transfer from the Liquor Dispensary Fund and payment
of $65,000.00 from the Golf Course Fund for construction costs transferred to that
fund in prior years. In 1967 $3,990.00 of construction costs were incurred by this
fund and transferred to the Golf Course Fund. During the year $7,904.13 of
construction costs were transferred to the Recreation Center of which $5,466.63 had
been incurred by the Park Construction Fund in 1967.
IMPROVEMENT FUNDS
Reference is made to detail schedules elsewhere in this report as to operations of
these funds and the related Construction Fund. Such details appear on pages 58 to
62, inclusive, of this report.
Construction costs incurred by the Village, other ,than for park purposes, are ac-
counted for in the Construction Fund which receives the proceeds from sale of
permanent and temporary bonds sold for construction or improvement purposes by the
various improvement funds. Redemption of-:these� bonds is provided for by levies of
special assessments on properties benefited from the construction or improvements.
To'facilitate tabulation of these special assessments, interest from date of final
assessment hearing to December 31st is included as part of project costs. Assess -
able costs also include a percentage charge in an amount sufficient to reimburse
the Village for actual costs of engineering and clerical services properly assign-
able to the various special assessment projects.
-7-
The reserve for assessment adjustments represents the excess of assessments over
actual costs incurred, less charges where actual costs exceeded the assessments.
Also charged to the reserve for assessment adjustments are determinable costs for
financed projects on which work had not been done and on which final disposition
is pending. These balances may be used for refunding canceled assessments.
Funds in the amount of $2,000,000 were made available from the sale of General
Obligation Improvement Bonds in 1967. The proceeds were used to finance curreng
construction. The bonds bear interest at rates from 4.00 to 4.20% and $200,000
of the issue mature on December 1 in each of the•10 years beginning in 1970. The
bonds will be redeemed with funds made available from special assessments.
WATERWORKS FUND
Reference is made to detail schedules elsewhere in-this report as to operations of
this fund. Such details appear on pages 63 to 69, inclusive. The net income of
$59,641.35 is after the provision of $21,921.00 for interest on bonded debt issued
for the waterworks facilities and the provision of $152,805.00 for depreciation on
the facilities. $48,000.00 of the bonded debt matured and was redeemed in 1967.
SEWER RENTAL FUND
Reference is made to detail schedules elsewhere in this report as to operations of
this fund. Such details appear on pages 70 to 74, inclusive.
LIQUOR DISPENSARY FUND
Reference is made to detail schedules elsewhere in this report as to operations of
this fund. Such details appear on pages 75 to 80, inclusive.
Net income of $310,827.40 for the year is after the provision of $10,882.00 of
depreciation on liquor store equipment. Of this amount, $290,000.00 was transferred
to other funds of the Village by action of the Village Council. In connection with
the sale of Golf Course Bonds of 1963 and Recreation Center,Bonds of 1965 the net
revenues of the Liquor Dispensary Fund are pledged to secure the "payment of said
bonds and interest thereon.
BONDING REQUIREMENTS
All Village employees who are required to be bonded by Minnesota statutes were so
bonded.
PUBLICATION OF FINANCIAL STATEMENTS
A detailed financial statement was not prepared and published or posted as required
by M. S. A. Section 412.281.
, " �- 2'-'�
Minneapolis, Minnesota
May 3, 1968
ASSETS
Cash:
Current funds
Appropriated
Investments:
United States Treasury notes and United States
Government Agency securities - at face value
or:: cost
Village of Edina bonds - at face value or cost
Land investments - at cost
Amount segregated and shown below
Receivables:
Taxes and special assessments:
Current
Delinquent
Deferred
Customers
Federal grant - library
Due from other funds
Miscellaneous receivables
Less allowance for delinquent taxes
Inventories
Prepaid expenses
Segregated investments for reserve for
debt retirement
Construction in progress
Fixed assets
Unallocated construction costs
* Indicates red figure.
Total
$ 177,762.69
26,829.75
$ 204,592.44
$ 2,753,345.50
226,194.18
5,599.25
$ 2,985,138.93
68,974.00
$ 2,916,164.93
$ 1,481,272.62
349,971.12
7,328,469.23
87,936.20
98,700.00
413,016.31
42,055.30
$ 9,801,420.78
787,339.31
$ 9,014,081.47
332,513.42
23,008.86
68,974.00
4,492,845.41
9,9163,777.34
168,348.63
$27,137,306.50
General-
$ 189,454.57
$ 189,454.57
$ 350,000.00
$ 350,000.00
$ 350,000.00
$ 14,311.86
61,951.11
28,065.7.8
98,700.00
5,929.31
42,055.30
$ 251,013.36
61,951.11
$ 189,062.25
10,000.00
163,527.00
1,953,309.32
$2,855,353.14
Poor
$14,225.61
$14,225.61
$12,000.00
$12,000.00
$12,000.00
i
i
FUND BALANCE SHEETS
VILLAGE OF ;EDIMA :
December 31, 1967
Swimming Recreation Park Park
Park Pool Golf Course Center Sinking ,i Construction
$ 30,538.95
$ 30,538.95
$ 2,780.00
$ 2,780.00
$ 2,780.00
600.00
$ 5,430.58* $ 10,304.35
$ 5,430.58* $ 10,304.35
489,703.74 211,945.74
$26,225.61 $523;622.69 $206,515.16
$ 31,345.94 $ 28,272.66
$ 31,345.94 $ 28,272:66
$ 18,850.11
$ 18,850.11
$
50,174.00
$
303,104.40
$ 50;000.00
Sewer
Liquor
Improvement
Waterworks
10 000.00
$
16;000.00
$
50,174.00
$
30,104.40
$ 60,000.00-
$
162000.00
$
50,17.4.00
$
30,104.40
$ 60,000.00
$
16,000.00
$
215,683.86 *.
$
$ 51,500.00
i
j.
5,971.31
$ 74,710.73
1,108.29
$.1,800,000.00
$
755,000.00
$
70,292.70
$
1,400.00
$
5,256.00
27,194.18
3,048.00
5,599.25
.6,698.87
15,382.50
$
5,031.81
$
4,448.00
$
11,954.87
$822,990.79
$
5,031.81
$153,118.76
41,433.29
$
4,448.00
$
11,954.87
.$781,557.50
ti $
52031.81
$153,118.76
$
1,415,460.76
1,829.21
123.20
286,911.72
- 732.48
6,545,403.45
668,526.27
978,598.95
561,549.61
$
5,6,072.48
7872831.83
$1,043,648.50
$637$16.51
$869,830.16
i
$1,496,240.02
I
1
1 -9 -.
i
Sewer
Liquor
Improvement
Waterworks
Rental
Dispensary
$
215,683.86*
$
i
..;4,797.10*
$
5,971.31
$ 74,710.73 .
26,829.75
$
215,683.86 *.
$
22,032.65
$
5,971.31
$ 74,710.73
$.1,800,000.00
$
276,849.82
$
70,292.70
$125,924.58
161,000.00
27,194.18
5,599.25
$
1,966$99.25
$
276,849.82
$
70,292.70
$153,118.76
68,974.00
$
1,966,599,25
$
207,875.82
$
70,292.70
$153,118.76
$
1,415,460.76
286,911.72
6,545,403.45
$
5,6,072.48
$
25,207.72
104,454.14
13,075.80
$256,615.88
8,35.211230.07
$
69,148.28
$.
25,207.72
$256,615.88
$
683,954.91
i
$
7,668,275.16
$
69,148.28
$
25,207.72
$256,615.88
28,445.30
291,638.91
19,164.00
526.00
24.00
2,439.18
68,974.00
3,626,949.54
39,842.60
4,854,043.85
11,812.83
67,981.47
168,,348.63
i
$13,227;652.72
$5,29;0.,888.50
$113,308.56
$846,504.93
1 -9 -.
LIABILITIES, RESERVES AND SURPLUS
Due to other funds
Accounts payable
Salaries and wages
Due to Hennepin County
Interest payable
Deferred income
Construction and other deposits
Edina Firemen's Relief Association
Construction contracts
Minneapolis -Saint Paul Sanitary District
Unexpended contributions
Reserve for future bond interest
Bonds payable
Reserve for assessment adjustments
Reserve for construction
Surplus:
Invested in fixed assets
Appropriated:
For imprest cash
For debt service
For commitments
Unappropriated (deficit)
Total
General
$ 4135,016.31
$ 14,246.80
30111427.58
98,860.79
12,785.46
3,661.32
9,944.60
32,955.02
664.52
7,355.00
105,164.42 66,273.91
19,382.09 19,382.09
608,208.44
95.22
21,407.72
223,910.20
13,141,000.00 65,000.00
66,709.99
64,965.17
8,511,535.04 2,116,836.32
550.00 550.00
184,603.75
337,023.00 337,023.00
3,075,267.49 132,854.39
$27,137,306.50 $2,855,353.14'
Poor
Park
$ 9,746.87
2,213.29
3,292.72
21,407.72
FUND BALANCE-SHEETS (Cont'd)
Swimming
Pool Golf Course
$ 15,382.50 $ 260,667.08
166.89 1,060.29
775,000.00
Recreation
Center
$101$041.81
9,011.53
1,403.27
4,696.67
7,355.00
450,000.00
Park Park
Sinking Construction
$ 1,609.00
1,060.00
$ 23,485.00
157,630.00
650,000.00
489,703.74 211,945.74 1131549.61
- 52,300.00 36$00.00
$26,225.61 ( 2,741.65) (' 20,979.97) ( X45,378.87) 15,958.62 38,715.16
$26,225.61 $523,622.69 $206;515.16 $1,043,648.50 $637,516.51 $869,830.16
77,539.22
37,212.92
1,37831818.88
$131496,240.02
I
-10-
Sewer
Liquor
Improvement
Watertworks
Rental
Dispensary
$ 10,322.25
2,027.69
$ 24;107.67
$130;039.10
$ 32,880.33
755.17
482.68
3,190.30
9,944.60
I; 108.83
38,890.51
i
530,669.22
95.22
66,280.20
10,530,000.00
671,000.00
66,709.99
27,752.25
4,2 2 ,886.45
11,812.83
67,981.47
91,803.75
1,944,960.79
272 226.63
( 29,026.05)
742,452.83
$13,227,652.72
$5,29q,888.50
$113,308.56
$846,504.93
I
-10-
GENERAL FUND
BALANCE SHEET
VILLAGE OF EDINA
December-31, 1967
Cash:
Demand deposits
Time deposits
.Working funds
Investments - at face value:
Federal Intermediate Credit Banks
United States Treasury notes
Federal National Mortgage Association
Certificate
Receivables:
Accounts receivable
Special assessments - current
Special assessments - deferred
Due from other funds
Federal grant - library
Supply inventory - estimated
ASSETS
$ 153,904.57
35,000.00
$ 14,311.86
28,065.78
$ 188,904.57
550.00
$ 200,000.00
100,000.00
50,000.00
$ 42,055.30
42,377.64
5,929.31
98,700.00
Taxes receivable - delinquent $ 61,951.11
Less allowance for delinquent taxes 61,951.11
Fixed assets $1,953,309.32
Construction in progress = library 163,527.00
LIABILITIES AND SURPLUS
Due to other funds
Accounts payable:
Trade accounts
Accrued payroll
Edina Firemen's Relief Association
Designated for Morningside Improvements
Contributions to Edina Library Fund
Sundry deposits
Bonds payable
Accrued interest payable
Appropriated surplus:
Invested in fixed assets
Annexed from Morningside - invested
in fixed assets
Contributed - invested in fixed assets
Reserve for commitments
For imprest cash
Surplus - unappropriated
$2,017,923.21
28,050.00
70,863.11
$ 98,860.79
3,661.32
19,382.09
43,152.37
16,190.64
6.930.90
$ 65,000.00
664.52
2,116,836.32
337,023.00
550.00
l
$ 189,454.57
350,000.00
189,062.25
10,000.00
2,116,836.32
$2,855,353.14
$ 14,246.80
188,178.11
65,664.52
2,454,409.32
132,854.39
$2,855,353.14
-11-
GENERAL.FUND.
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year Ended December 31, 1967
APPROPRIATED
Balance at January 1, 1967
Additions:
Transfers from unappropriated surplus:
Invested in
Contributed
I For Imprest
For
Total Fixed - Assets.
Contributed by Annexation
Cash
Commitments
$2,071,863.87 $1,805,300.76
$70,863.11 $ 28,050.00
$ 550.00
$167,100.00
For fixed assets - net 212,622.45
For commitments 169,923.00
'Balance at December 31, 1967 $2,454,409.32
UNAPPROPRIATED
Balance at January 1, 1967
.Additions:
Revenue - see separate schedule
Installment on voting machines
Less:
Expenditures - see separate schedule
Deductions:
Transfer to revenue
General Fund share of construction costs
212,622.45 I 169,923.00
i
$2,017,923.21 $70,863.11 $ : 28,05.0.00 $ 550.00 $337,023.00
$182,483.21
$2,164,222.55
1,624.00 $2,165,846.55
2,095,359.00 70,487.55
$252,970.76
I
$ 114,100.00
6,016.37 120,116.37
Balance at December 31, 1967 $132,854.39
d
I .
i
-12-
GENERAL FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1967
Balance at January 1, 1967
Additions:
Receipts - per separate schedule
Sale of investments
Collections of amounts due others:
Waterworks Fund
Edina Firemen's Relief Association
Collection made on accruals at
December 31, 1966
Payments.:received from Independent School
District No. 273 for gasoline purchases
Contributions to Edina Library Fund
Less payments from fund
Increase in sundry deposits
Deductions:
Disbursements - per separate schedule
Gasoline purchased for Independent School
District No. 273
Charges to accounts receivable
Payments on.accruals at December 31, 1966:
Accounts payable
Accrued payroll
Edina Firemen's Relief Association
Due to other funds
Payment of bonds
Purchase of investments
Decrease in fund designated for Morningside
Improvements
Village share of construction costs charged
directly to surplus
Summary:
Demand deposits
Time deposits
$ 180,916.96
$1,816,852.83
437,107.50
$ 13,075.80
19,832.09 32,907.89
48,510.68
13,547.34
$ 17,547.41
1,356.77 16,190.64
1,550.98 2,366,667.86
$2,547,584.82
$1,727,794.00
16,284.86
7,944.76
$ 52,521.43
2,482.88
16,961.96
13,048.02 85,014.29
13,000.00
500,000.00
2;625.97
6,016.37 . 2,358,680.25
Balance at December 31, 1967 $ 188,904.57
$153,904.57
35,000.00
$188,904.57
-13-
GENERAL FUND
REVENUE
VILLAGE OF EDINA
Year Ended December 31, 1967
Receipts Accruals Revenues
Real and personal property taxes $1,083,118.00 $1,083,118.00
Other taxes 33,461.00 33,461.00
Bicycle licenses 2,476.00 2,476.00
Beer and liquor licenses 1,455.00 1,455.00
Cigarette licenses 1,407.00 1,407.00
Estimated
Revenue
$1,096,326.00
35,500.00
2,000.00
1,325.00
1,032.00
Actual
Revenue
Over- Under*
Estimated
Revenue
$13,208.00*
2,039.00*
476.00
130.00
375.00
Dog and impounding fees
6,766.00
6,766.00
6,000.00
766.00
Food and soft drinks
5,475.00
5,475.00
3,945.00
1,530.00
Gas pump licenses
120.00
120.00
715.00
595.00*
Bowling, taxi, pinball, etc.
4,297.00
4,297.00
2,760.00
1,537.00
Heating and ventilating licenses
591.00
591.00
42,000.00
591.00
Water softener installation licenses
135.00
135.00
Contribution from active funds
135.00
Scavenger and garbage collectors
710.00
710.00
595.00
115.00
Building permits
75,106.00
75,106.00
60,050.00
15,056.00
Cesspool and sewer permits
2,871.00
2,871.00
2,500.00
371.00
Plumbing permits
21,811.00
21,811.00
12,000.00
9,811.00
Sign permits
2,504.00
2,504.00
3,500.00
996.00*
Other permits and fees
935.00
935.00
606.00
329.00
Heating permits
4,620.00
4,620.00
5,000.00
380.00*
Street opening fees
119275.00
1,275.00
900.00
375.00
Planning fees
2,159.00
2,159.00
1,000.00
1,159.00
Engineering, clerical and searches
226,832.00
$ 10,000.00 236,832.00
233,000.00
Police service
3,560.00
2,848.00 6,408.00
7,184.00
Equipment rental
( 912.00)
( 912.00)
2,500.00
Municipal court fines
51,192.00
4,044.00.' 55,236.00
45,000.00
Income on investments
13,312.00
13,312.00
State apportionment - highway
41,520.00
41,520.00
42,000.00
State apportionment - liquor and cigarette
122,288.00
122,288.00
119,739.00
Contribution from active funds
81,283.00
81,283.00
81,283.00
Charges to other funds
14,400.00
14,400.00
14,400.00
Sale of fixed assets
500.00
Discount earned
Other revenue
Transfer - reserve for commitments
Transfer - unappropriated surplus
Federal grant - library
( ) Indicates negative amount.
1,260.00
10,825.83
$1,816,852.83
69.00
1,508.72
116,100.00
114,100.00
98,700.00
$347,369.72
1,329.00
12,334.55
116,100.00
114,100.00
98,700.00
$2,164,222.55
7,000.00
116,100.00
114,100.00
98,700.00
$2,117,260.00
3,832.00
776.00*
3,412.00*
10,236.00
13,312.00
480.00*
2,549.00
500.00*
1,329.00
5,334.55
$46,962.55
-14-
GENERAL FUND
EXPENDITURES
VILLAGE OF EDINA
Year Ended December 31, 1967
GENERAL GOVERNMENT
Mayor and Council
Planning
Administration:
Personal services
Contractual services
Commodities
Fixed charges
Finance:
Personal services
Contractual services
Commodities
Fixed charges
Elections
Assessifig:
Personal services
Contractual services
Commodities
Fixed charges
Legal services
Library
TOTAL GENERAL GOVERNMENT
ADMINISTRATION, ENGINEERING AND PUBLIC WORKS
Administration:
Personal services
Contractual services
Fixed charges
Engineering:
Overhead
Project engineering
General engineering
Public works:
Supervision and clerical
Training
Paid leave
General maintenance:
General
Oil and gravel streets
Asphalt streets
Concrete streets
Disbursements
$ 10,276.00
12,943.00
$ 45,451.00
7,247,00
97.00
9,840.00
$ 62,635.00
$ 36,115.00
2,566.00
6.00
7,248.00
$ 45,935.00
3,846.00
$ 43,013.00
1,382.00
649.00
8,208.00
$ 53,252.00
22,352.00
4,283.00
$ 215,522.00
$ 16,332.00
1,062.00
2,532.00
$ 19,926.00
$ 50,220.00
145,742.00
18,738.00
$ 214,700.00
$ 47,399.00
1,672.00
22,144.00
$ 12,716.00
18,298.00
44,922.00
33,785.00
$ 109,721.00
Encumbrances
$ 24.00
$ 167.00
$ 167.00
$ 16.00
$ 16.00
$ 30.00
13,270.00
.132.00
$ 13,639.00
$ 27.00*
$ 27.00 *
$ 115.00
3,077 O(Yr
541.00
$ 2,421.00*
$ 33.00
188.00
$ 2,941.00
728.00
201.00
$ 3,870.00
Expenditures
$ 10,276.00
12,967.00
$ 45,451.00
7,414.00
97.00
9,840.00
$ 62,802.00
$ 36,115.00
2,566.00
22.00
7,248.00
$ 45,951.00
3,846.00
$ 43,013.00
1,412.00
649.00
8,208.00
$ 53,282.00
35,622.00
'4,415.00
$ 229,161.00
$ 16,332.00
1,035.00
2,532.00
$ 19,899.00
$ 50,335.00
142,665.00
19.279.00
$ 212,279.00
$ 47,432.00
1,672.00
22,332.00
$ 15,657.00
19,026.00
45,123.00
33,785.00
$ 113,591.00
Appropriation
$ 10,340.00
14,052.00
$ 45,480.00
7,480.00
..175.00
9,840.00
$ 62,975.00
$ 36,115.00
2,505.00
25.00
7,248.00
$ 45,893.00
3,932.00
$ 43,360.00
2,321.00
850.00
8,208.00
$ 54,739.00
32,980.00
4,630.00
$ 229,541.00
$ 16,340.00
765.00
2,532.00
$ 19,637.00
$ 50,575.00
144,000.00
23,098.00
$ 217,673.00
$ 47,734.00
2,000.00
22,900.00
$ 13,200.00
19,500.00
45,815.00
34,400.00
$ 112,915.00
Unexpended
$ 64.00
1,085.00
$ 29.00
66.00
78.00
$ 173.00
61.00*
3.00
$ 58.00*
86.00
$ 347.00
909.00
201.00
$ 1,457.00
2,642.00*
.215.00
$ 380.00
$ 8.00
270.00*
$ 262.00*
$ 240.00
1,335.00
3,819.00
$ 5,394.00
$ 302.00
328.00
568.00
$ 2,457.00*
474.00
692.00
615.00
$ 676.00*
-15-
GENERAL FUND
EXPENDITURES ( Cont'd)
ADMINISTRATION, ENGINEERING AND PUBLIC WORKS ( Cont'd)
Public works (cont'd):
Street cleaning
Renovation
Curb and sidewalks
Snow and ice removal
Street lighting
Street name signs
Traffic control:
Sign maintenance
Traffic control maintenance
Pavement marking
Guard rail maintenance
Bridges - general maintenance
Storm sewer maintenance
Temporary drainage and culverts
Village properties:
Turf care and plantings
Tree maintenance
Noxious weed control
Lake and pond maintenance
TOTAL PUBLIC WORKS
TOTAL ADMINISTRATION, ENGINEERING AND PUBLIC WORKS
PROTECTION OF PERSONS AND PROPERTY
Police protection:
Personal services
Contractual services
Commodities
Fixed charges
Fire protection:
Personal services
Contractual services
Commodities
Fixed charges
Civilian Defense
Public health:
Personal services
Contractual services
Commodities
Fixed charges
Disbursements
$ 31,337.00
51,649.00
1,255.00
67,944.00
49,614.00
7,318.00
$. 6,967.00
7,176.00
3,230.00
$ 17,373.00
3,522.00
4,937.00
20,301.00
4,994.00
$ 6,476.00
9.321.00
$ 15,797.00
1,380.00
7,092.00.
$ 465,449:00
$ 700,075.00
$ 285,019.00
7,306.00
2,860.00
60,960.00
$ 356,145.00
< - '-3,951.00
2;458.00
25;320.00
$ 155,278.00
2,990.00
$ 16,766.00
1,327.00
1,190.00
2.748.00
$ 22,031.00
Encumbrances Expenditures Appropriation
$ 113.00
2,487.00
4,055.00
247.00
$ 665.00
254.00
$ 919.00
235.00
392.00
306.00
440.00
$ 31,450.00
51,649.00
1,255.00
70,431.00
53,669.00
7,565.00
$ 7,632.00
7,430.00
3,230.00
$ 18,292..00
3,757.00
5,329.00
20,607.00
5,434.00
$ 32,000.00
52,200.00
1,8401 - 00
71,500.00
54,000..00
8,040'.00
$ 8,000.00
8,000.00
3,500.00
$ 19,500.00
4,160.00
5,420.00
! 20,891.00
j 5,500.00
$ 6,476.00 $ 6,520.00
$ 78.00 9,399.00 9,440.00
$ 78.00 $ 15,875.00 $ 15,960.00
1,380.00 1,400.00
7,092.00 7,140.00
$ 13,363.00 $ 478,812.00 $ 485,100.00
$ 10,915.00 $ .710,990.00 - $ 722,410.00
i
$ 515.00
175.00
530.00
$ 1,220.00
$ 276.00
576.00
$ 852.00
40.00
$ 800.00*
61.00
157.00*
$ 896.00*
$ .285,534.00
7,481.00
3,390.00
60.960.00
$ 357,365.00
$ 123,549.00
4,227.00
3,034.00
25.320.00
$ 156,130.00
3,030.00
$ 15,966.00
1,388.00
1,033.00
2.748.00
$ 21,135. 00
$ 285,600.00
7,175.00
3,120.00
60.960.00
$ 356,855.00
$ 123,575.00
4,250.00
2,646.00
25.320.00
$ 155,791.00
2,820.00
$ 16,000.00
1,400.00
1,050.00
2.748.00
$ 21,198.00
Unexpended
Balance
$ 550.00
551.00
585.00
1,069.00
331.00
475.00
$ 368.00
570.00
270.00
$ 1,208.00
403.00
91.00
284.00
66.00
$ 44.00
41.00
$ 85.00
20.00
48..00
$ 6,288.00
$11,420.00
$ 66.00
306.00*
270.00*
$ 510.00*
$ 26.00
23.00
388.00*
$ 339.00*
210.00*
$ 34.00
12.00
17.00
$ 63.00
-16-
GENERAL FUND
EXPENDITURES (Cont'd)
PROTECTION OF PERSONS AND PROPERTY'(Cont'd)
Animal control
Inspections:
Personal services
Contractual services
Commodities
Fixed charges
TOTAL PROTECTION OF PERSONS AND PROPERTY
NON- DEPARTMENTAL
Contingencies
Settlement of suits
Special assessments on Village park property.
CENTRAL SERVICES
See separate schedule attached
CAPITAL OUTLAY
Administration - .general government
Finance
Administration - engineering and public works
Engineering
Public works
Police
Fire
Public health
Inspections
Contingencies
Special assessments on Village property
Unallocated capital outlay
Capital improvement
RESERVE FOR COMMITMENTS
Finance
Public works
Fire protection
Special.assessments on Village property
Unallocated capital outlay
Capital improvements
* Indicates red figure.
TOTAL NON- DEPARTMENTAL
TOTAL OPERATING EXPENSES
TOTAL CAPITAL OUTLAY
TOTAL.RESERVE FOR COMMITMENTS
TOTAL
Disbursements
Encumbrances
$ 13,739.00
$
1,189.00
$ 31,022.00
$ 14,928.00
$ 15,100.00
1,940.00
$
155.00
1,255.00
2,095.00
140.00
5,052.00
1,395.00
1,280.00
$ 39,269.00
$ 295.00
$ 589,452.00
$
2,700.00
$ 3,577.00
$
341.00
100.00
$ 892.00*
$ 3,918.00
28,013.00
$ 82.00
100.00
$ 31,690.00
$
341.00
13,374.00
12.00
2,164.00
$1,550,113.00
$
29,759.00
$ 234.00
625.00
2,131.00
17,649.00
10,867.00
7,192.00
1,715.00
441.00
2,240.00
3,588.00
153.00
130.846.00
$ 177,681.00
$1,727,794.00
$ 42.00
460.00
51.281.00
$ 51,783.00
$ 10,000.00
11,000.00
7,500.00
3,000.00
7,750.00
246,773.00
$286,023.00
$367,565.00
i
-17-
Unexpended
Expenditures
.Appropriation
Balance
$ 14,928.00
$ 15,100.00
$ 172.00
$ 31,022.00
$ 31,064.00
$ 42.00
2,095.00
2,100.00
5.00
1,395.00
1,280.00
115.00*
5,052.00
5,052.00
-
$ 39,564.00
$ 39,496.00
$ 68.00*
;$ 592,152.00 .,
$ 591,260.00
$ 892.00*
$ 3,918.00
$ 4,000.00
$ 82.00
100.00
100.00
-
28,013.00 ;
28,025.00
12.00
$ 32,031.00.
i
$ 32,125.00
$ 94.00
15,538.00
21,700.00
6,162.00
$1,579,872.00.. - ;;
.$1,597,036.00
$17,164.00
$ 234.00
$ 500.00
$ 266.00
42.00
50.00
8.00
625.00
430.00
195.00*
2,131.00
3,900.00
1,769.00
18,109.00
18,400.00
291.00
10,867.00
10,874.00
7.00
7,192.00
7,200.00
8.00
1,715.00
1,445.00
270.00*
441.00
450.00
9.00
2,240.00
3,100.00
860.00
3,588.00
3,625.00
37.00
153.00
2,100.00
1,947.00
182,127.00
182,127.00
$ 229,464.00 .,�
$ 234,201.00
$ 4,737.00
$ 10,000.00
$ 10,000.00
$ -
11,000.00
11,000.00
-
7,500.00
7,500.00
-
3,000.00
3,000.00
-
7,750.00
7,750.00
-
246,773.00
246,773.00
-
$ 286,023.00
$ 286,023.00
$ -
$2,095,359.00
$2,117,260.00
$21,901.00
i
-17-
GENERAL FUND
CENTRAL SERVICES
VILLAGE OF'EDINA
Year Ended December 31, 1967
General:
Contractual services
Commodities
Village Hall:
Personal services
Contractual services
Commodities
Fixed charges
Garage
Equipment operation:
Personal services
Contractual services
Commodities
Fixed charges
Gasoline and fuel oil
Tires and tubes
Lubricants
Parts and accessories
Less allocations to other departments or funds
* Indicates red figure.
TOTAL GENERAL
TOTAL VILLAGE HALL
TOTAL EQUIPMENT OPERATION
TOTAL
Disbursements
$1.61, 314.00
6,665.00
$167,979.00
$ 10,081.00
9,139.00
2,316.00
16,873.00
$ 38,085.00
17,680.00
9,690.00
17,196.00
22,773.00
:.5 , 851.00
2,609.00
26,246.00
$140,130.00
$347,418.00
334,044.00
$ 13,374.00
Encumbrances
$6,936.00*
478.00
$6,458.00*
$ 377.00
1,561.00
349.00
$2,287.00
2,769.00
$ 622.00
462.00
459.00
55.00*
162.00
177.00
1,739.00
$3,566.00
$2,164.00
$2,164.00
Expenditures
$1.54,378.00
7,143.00
$161,521.00
$ 10,458.00
10,700.00
2,665.00
900.00
$ 24,723.00
19,642.00
$ 38,707.00
18,142.00
10,149.00
17,196.00
22,718.00
6,013.00
2,786.00
27,985.00
$143,696.00
$349,582.00
334,044.00
$ 15,538.00
Appropriation
$160,830.00
7,300.00
$168,130.00
$ 10,500.00
10,093.00
3,377.00
900.00
$ 24,870.00
19,628.00
$ 38,740.00
18,400.00
10,200.00
17,196.00
22,800.00
6,050.00
2,800.00
26,930.00
$143,116.00
$355,744.00
334,044.00
$ 21,700.00
Unexpended
Balance
$6,452.00
157.00
$6,609.00
$ 42.00
607.00*
712.00
$ 147.00
14.00*
$ 33.00
258.00
51.00
82.00
37.00
14.00
1,055.00*
$ 580.00*
$6,162.00
$6,162.00
-18-
GENERAL FUND
FIXED ASSETS
VILLAGE 'OF EDINA
Year Ended December 31, 1967
Land
Land improvements.
Buildings
Furniture and fixtures
Equipment:
Highway
Police
Fire
Election
Engineering
Traffic signals
Executive
Miscellaneous
Construction in progress -
library
TOTAL
Balance
January 1,
1967
$ 253,816.24
136,652.38
706,557.67
57,397.59
383,887.17
46,146.82
89,441.05
96,257.93
31,520.86
64,735.18
1,834.15
32,066.83.
Additions Deductions
$ 22,500.00
3,588.00
3,805,.00
2,459.00
21,309.00 $ 9,175.92
17,117'.00 14,768.00
7,192.00
1,317.00 1 2,347.63
Balance
December 31,
1967
$ '276,316.24
140,240.38
710,362.67
59,856.59
396,020.25
48,495.82
96,633.05
96,257.93
30,490.23
64,735.18
1,834.15
32,066.83
3,900.00 159,627.00 163,527.00
$1,904,213.87 $238,914.00 $26,291.55 $2,116,836.32
-19-
GENERAL FUND
BONDS PAYABLE
VILLAGE OF EDINA
December 31, 1967
Annual maturities and interest dates
Interest rates
-20-
i
i
Sanitary Sewer
Improvement
Sanitary Sewer
No. 11 and
Sanitary Sewer
Sanitary Sewer
and Watermain
Curb and, Gutter
Street
Improvement
Improvement
Improvement,
Improvement
Improvement
Year
Total.
No. 7
No. 8
No. 9
No. 12
No. 14
June 1 and
February l and
February,I and
February .1 and
May 1 and„
December l
August 1
August l
August 1
November l
4%
3.47°
4%
3.470
3A%
1968
$11,000.00
$2,000.00
$4,000.00
$2,000.00
$ 3,000.00
1969
16,000.00
.4,000.00
2,000.00
3,000.00
$ 7,000.00
1970
10,000.00
23,000.00
3,000.00
5,000.00
1971
8,000.00
3,000.00
5,000.00
1972
5,000.00
5,000.00
1973
5,000.00
5,000.00
1974
5,000.00
5,000.00
1975
5,000.00
5,000.00
$659000.00
�: $2,000.00
r
$8,000.00
$6,000.00
i
i
j
I
$12,000.00
$37,000.00
-20-
POOR FUND
BALANCE SHEET
VILLAGE OF'EDINA
December 31, 1967
ASSETS
Cash.on deposit
Investments - at face value:
Village of Edina - 2.5% Waterworks Revenue
Bonds of 1955
-SURPLUS
Surplus - unappropriated
$14,225.61
.12,000.00
$26,225.61
$26,225.61
-21-
Balance at January 1, 1967
Additions:
Net income for year
1
POOR FUND
STATEMENT OF SURPLUS - UNAPPROPRIATED
VILLAGE OF EDINA
Year Ended December 31, 1967
Balance at December 31, 1967
STATEMENT OF REVENUES AND EXPENDITURES
Revenue receipts and accruals:
Tax settlements
Relief grants - State of Minnesota
Income on investments
Disbursements and accruals:
Suburban Hennepin County Relief Board:
Relief orders
Administration
Rural Hennepin County Nursing Committee
Professional services
NET'INCOME
$22,646.86
3,578.75
$26,225.61
Year Ended December 31 Increase
1967 1966 Decrease*
$140813.53 $129434.74 $ 22378.79
( 35.00) 35.00
167.50 933.08 765.58*
$14,981.03 $13,332.82 $-12648.21
$ 804.86
617.42
9,880.00
100.00
$11,402.28
$ 3,578.75
$ 2,669.33
1,049.08
9,355.02
100.00
$13,173.43
$ 159.39
$ 1,864.47*
431.66*
524.98
$ 1,771.15*
$ 3,419.36
-22-
POOR.FUND
ANALYSIS OF CHANGE'IN CASH BALANCE
VILLAGE 'OF EDINA :
Year Ended December 31, 1967
Balance at January 1, 1967
Additions:
Tax settlements received:
March 1967
June 1967
November 1967
Sale of investments
Income on investments
Deductions:
Payment to Suburban Hennepin County
Relief Board:
Relief orders
Administration
Rural Hennepin County Nursing Committee
Professional service.
Payment on accounts payable of
December 31, 1966
$ 883.20
7,144.33
6,786.00
$14,813.53
5,000.00
167.50
$ 804.86
617.42 19422.28
9,880.00
100.00
$ 5,846.34
19,981.03
$25,827.37
.199.48 11,601.76
Balance at December 31,11967 $149225.61
-23-
PARK FUND
BALANCE SHEET
VILLAGE OF EDINA
December.31, 1967
ASSETS
Cash:
Demand deposits $ 30,538.95
Receivables:
Taxes receivable - delinquent $ 29442.81
Less allowance for delinquent taxes 2,442.81 -
Due from other funds 29780.00
Inventory of supplies - estimated 600.00
Fixed assets - on the basis of cost 489,703.74
$523,622.69
LIABILITIES AND SURPLUS
Liabilities:
Trade accounts payable $ 29213.29
Accrued salaries and wages 3,292.72
Due to other funds 92746.87
Unexpended contributions for specific purposes:
Dwight Williams Memorial Park $ 100.00
Wooddale Park - improvements and recreation programs 1,416.31
Cornelia Lake Park improvement ---------- _ - __ - -J - -- - - -- 71 -;00 -- — --
Park District No. 2 69185.00
Park District No. 3 29150.00
Park District No. 4 35,400.00
Park District No. 5 500.00
Figure skating and skiing instructors'salaries 60548.33
Hockey equipment 500.00
Edina Swim Club 146.47
Other 390.61 21,407.72
Appropriated surplus:
Invested in fixed assets $2039622.79
Contributed:
Property and special assessment paid
by General Fund $275,522.29
Property donated by others 10,558.66 286,080.95 4899703.74
Surplus - unappropriated (deficit) ( 2,741.65)
$523,622.69
-24-
PARK FUND
STATEMENT OF UNAPPROPRIATED SURPLUS
VILLAGE OF EDINA
Year Ended December 31, 1967
Balance at January 1, 1967 $ 4,854.43
Additions:
Revenue for year (see separate schedule for details) $179;285.92
Less amount transferred to revenue included in
the above 6,000.00 173,285.92
$1782140.35
Deductions:
Expenditures for year, including $7,850.00 for
capital outlay for fixed assets (see detail schedule) 180,882.00
Balance (deficit) at December 31,.1967 ($ 2,741.65)
ANALYSIS OF SURPLUS INVESTED IN FIXED ASSETS
Balance at.January 1, 1967
Additions for the year:
Contributed
By General
Fund by
Payment of
Special
Combined Assessments By Others
$456$17.84 .$2472508.80 $ 102558.66
Direct
Investment
in Fixed
$198,250.38
From unappropriated surplus 7,850.00 79850.00
Special assessments paid by
General Fund 28,013.49 28,013.49
$4920181.33 $275,522.29 $ 10,558.66 $2069100.38
Deduct:
Fixed assets traded in 2.477.59 2,477.59
Balance at December 31,'1967 $489,703.74 $275,522.29 $ 109558.66 $2039622.79
-25-
PARK FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1967
Balance at January 1, 1967
Additions:
Receipts for year (see separate schedule for details)
Registration fees - figure skating and.skiing
Dedicated funds:,
Hockey program $ 500.00
Miscellaneous 350.00
Deductions:
Disbursements for year (see separate schedule
for details)
Expenses - figure skating and skiing
Payment on accruals at December 31, 1966:
Trade accounts
Accrued salaries and wages
Increase in amount due from .other funds
Payment to construction fund
Payment from dedicated funds
Other
$1759411.27
18,945.88
850.00
$173,333.00
11,837.18
$ 302732.97
195,207.15
$2252940.12
$2,079.81
2,241.88 49321.69
2,780.00
1,400.00
1,087.00
642.30 195,401.17
Balance at December 31, 1967 $ 30,538.95
-26-
PARR FUND
REVENUE AND EXPENDITURES
VILLAGE OF EDINA
Year Ended December 31, 1967.
REVENUE
Real and personal property taxes
Registration fees
Transfer from active funds
Transfer from unappropriated surplus
Other revenue
EXPENDITURES
Administration:
Personal services
Contractual services
Commodities
Central services
Training
Paid leave
Capital outlay
Recreation:
Baseball and softball
Skating and hockey
Tennis instruction
Playgrounds
Swimming instruction.
Special activities
Maintenance:
Mowing
Special turf care
Planting and trees
Litter removal
Parking areas
Building and equipment.
Skating rinks
( ) Indicates red figure.
TOTAL REVENUE
Receipts
$ 85,886.00
25;447.00
6.3;717.00
'361.27
$175.;411.27
Disbursements
$ 25;005.00
1;390.00
2.00
14;892.00
:421.00
6,139.00
TOTAL ADMINISTRATION $.47;849.00
TOTAL RECREATION
TOTAL MAINTENANCE
TOTAL EXPENDITURES
7;526.00
$ 3;831.00
5,1234.00
1, 52'8:00
11;868:00
.14;319.00
3,1616.00
$ 40 2396.00
$ 10,584.00
12,.940.00
3;948.00
4,344.00
1,107.00
18,971.00
:25,668.00
$ 77,.562.00
$173,333.00
Accruals
.($3,048.00)
6,000.00
922.65
$3,874.65
Encumbrances
$ 188.00
$ 188.00
324.00
$1,932.00
23.00
$1,955.00
$1,400.00
895.00
2,787.00
5 082.00
$7,549.00'
$ 85,886.00
22,399.00
63,717.00
6,000.00
1,283.92
$179,285.92
Expenditures
$ 253005.00
1,578.00
2.00
14,892.00
421.00
6.139.00
$ 48.,037.00
7,850.00
$ 3,831.00
7,166.00
1,528.00
11,891.00
14,319.00
3,616.00
$ 42,351:00
$ 10,584.00
14,340.00
3,948.00
4,344.00
1,107.00
19,866.00
.28,455.00
$ 82,644.00
$180,882.00
Estimated
Revenue
$ 86.3900.00
22.,000.00
63,717.00
6,000.00
1,000.00
$179,617:00
AbDropriation
$ 25 3-035.00
1;585.00
125.00
14_;892.00
+200.00
7.317.00
$ 49,154.00
7:,,400.00
$ °3;850.00
7;050.00
1$550.00
11,900.00
14,325.00
3,625.00
$ 42 300.00
$.10$99.00
14;345.00
.3,, 950.00
4$50.00
1,115.00
22;439.00
23,965.00
$ 80,7;63.00
$179 ;617.00
Actual
Revenue
Over- Under*
Estimated
Revenue
$1,014.00*
399.00
283.92
$ 331.08*
Unexpended
"Balance
$ 30.00
7.00
123.00
( 221.00)
1,178.00
$1,117.00
( 450.00)
$ 19.00
( 116.00)
22.00
9.00
6.00
9.00
($ 51:00)
$ 15.00
5.00
2.00
6.00
8.00
2,573.00
( 4,490.00)
($1,881.00)
($1,265.00)
-27-
PARK FUND
FIXED ASSETS
VILLAGE OF EDINA
Year
Ended December 31,
1967
Balance
Balance
January 1,
December 31,
1967
Additions.
Deductions
1967
Land
$ 90,806.64.
$ 90,806.64
Skating rinks
59812.03
1 5,812.03
Land improvements
2649629.25
$289013.49
2929642.74
Building
4,042.32
43,042.32
Park equipment
469674.02
1,460.00
$ 403.59
47,730.43
Furniture, fixtures and equipment
29224.78
234.00
29458.78
Trucks, automobile and tractors
309349.29
5,106.00
29074.00
339381.29
Miscellaneous
5,276.32
19050.00
62326.32
$4490814.65
$350863.49
$29477,.59
$4839200.55
Construction in progress:
131.26
131.26
52nd and Arden
50th and Wooddale
2,324.85
29324.85
East Mirror Lake
32785.72
3,785.72
57th and Chowen
261.36
261.36
TOTAL $456,317.84 $35,863.49 $29477.59 $489,703.74
-28-
SWIMMING POOL FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1967
ASSETS
Cash (deficit)
Fixed assets - at cost:
Land
Swimming pool and bathhouse
Filter system
Concession furniture and fixtures
Less-allowance for depreciation
LIABILITIES AND SURPLUS
Payables:
Trade accounts
Due to Park Sinking Fund
Surplus invested.in fixed assets:
Acquired by bonds
Acquired by,surplus
Donated
Unappropriated surplus (deficit)
($ 5,430.58)
$ 10.,000.00
.1842026.67
17,000.00
$3,802.37
29883.30 919.07 211,945.74
$206,515.16
$ 166.89
15,382.50
$ 15,549.39
$209,431.89
2,463.85
50.00 211,945.74
( 20,979.97)
$2069515.16
-29-
SWIMMING POOL FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year Ended December 31, 1967
* Indicates red figure.
-30-
Invested in Fixed Assets
Unappro-
From
From
Total
priated
Donated.
Surplus
Bond Fund
Balance at January.l,.1967
$193,053.29
$19,272.69*
$50.00
$2,844.09
$209,431.89
Additions and transfers:
Net :income for the year
6,579.48
61579.48
Interest provided for at
December 31, 1966 included
in operations
69715.50
69715.50
Provision for depreciation
-
380.24
380.24*
$206,348.27
$ 59597.47*
$50.00
$22463.85
$209,431.89
Deduct:
Allocation to Sinking Fund
for bonds
15,382.50
15,382.50*
Balance at December 31, 1967
$190,965.77
$209979.97*
$50.00
$2,463.85
$209,431.89
* Indicates red figure.
-30-
SWIMMING POOL FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1967
Balance (deficit) at January.l, 1967 ($ 33538.91)
Additions:
Pool fees $43,741.00
Concession.income (see separate schedule) $1,937.76
Add provision for depreciation not
requiring cash 380.24 22318.00
Other revenue 1,269.22 47,328.22
$43,789.31
Deductions:
Operating expense (see separate schedule) $33,653.00
Less accounts payable at December 31,-1967 166.89
$33,486.11
Payment made on accruals at December 31, 196= = 15,733.78 49,219.89
Balance (deficit) at December 31, 1967 ($ 5,430.58)
-31-
SWIMMING POOL FUND
STATEMENT OF INCOME AND EXPENSE
VILLAGE OF EDINA
Year Ended December 31, 1967
Revenues:
Pool fees:
Season tickets $3810676.00
General admissions 5,065.00 $432741.00
Rental - instruction program .12251.00
Other 18.22
$45,010.22
Operating.expenses:
Salaries and wages:
Supervision and clerical
$3,420.00
Life guards
9,247.00
Cashier
12128.00
Basket room attendants
32177.00
Watchmen
19039.00
Maintenance
3,288.00 $219299.00
Light and power 12440.00
Water and sewer 725.00
Gas 12217.00
Telephone 144.00
Rubbish hauling 150.00
Insurance 173.00
Repairs and maintenance 682.00
Replacement and renewals - water
treatment equipment 12501.00
Cleaning supplies 325.00
Water treatment 19744.00
General supplies 12313.00
Annual audit 100.00
Printing and office expense 461.00
Central services 22340.00
Other 39.00 33,653.00
$11,357.22
Interest on bonds 69715.50
$ 4,641.72
Income from concessions - see separate schedule 1,937.76
NET INCOME FROM OPERATION $ 62579.48
n
-32-
SWIMMING POOL FUND
STATEMENT OF INCOME AND EXPENSE (CONCESSIONS ONLY)
VILLAGE OF EDINA
Year Ended December 31, 1967
Operating expenses:
Salaries and wages :.
Manager $ 747.00
Clerk 1,116.00 $19863.00
Supplies 387.00
Repairs and maintenance 163.00
Provision for depreciation 380.24 2,793.24
NET'INCOME $12937.76
-33-
Gross Profit
Cost of
Per Cent
Sales
Sales
Amount
to Sales
Soft drinks
$10152.00
$ 788.00
$ 364.00
31.59%
Soft ice cream
22909.00
1,311.00
1,598.00
54.93
Popcorn
219167.00
476.00
1,691.00
_ 78.03
Sandwiches
391.00
220.00
171.00
43.73
Cakes
1,692.00
1,115.00
577.00
34.10
Other
647.00
317.00
330.0.0
51.00
$82958.00
$49227.00
$40731.00
52.81%
Operating expenses:
Salaries and wages :.
Manager $ 747.00
Clerk 1,116.00 $19863.00
Supplies 387.00
Repairs and maintenance 163.00
Provision for depreciation 380.24 2,793.24
NET'INCOME $12937.76
-33-
SWIMING POOL FUND
FIXED ASSETS
VILLAGE'OF EDINA
Year Ended December 31, 1967
ASSETS
Land
Swimming pool and bathhouse
Filter system
Concession furniture and equipment
ALLOWANCE FOR DEPRECIATION
Concession furniture and equipment
Balance Balance
January 1, December 31,
1967 Additions 1967
$ 10,000.00
184,026.67
.17V000.00
3,802.37
$ 101000.00
184,026.67
17,000.00
3,802.37
$214,829.04 $ - $214,829.04
2,503.06 $380.24 29883.30
NET BALANCE $212,325.98 $211,945.74
-34-
GOLF COURSE FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1967
ASSETS
Cash:
On deposit
Working:funds
Investments:
Federal National Mortgage Association - at cost
Accrued interest
Accounts receivable
Due from .other funds
Prepaid expenses
Fixed assets - at cost:
Golf course
Buildings
Well
Parking lot and roadways
Equipment
Less allowance for depreciation
LIABILITIES AND SURPLUS
Accounts payable
Due to other funds
Loan from .Liquor Dispensary Fund
Bonds payable
Appropriated surplus - for debt service
Surplus — deficit* - unappropriated
$:109254.35
50.00
$ 50,000.00
174.00
$7265,414.02
182,906.82
15,018.15
9,627.32
$641058.38.
19,425.74 44,632.64
$ 10,304.35
50,174.00
1,400.00
3,048.00
123.20
978,598.95
$1,0439,648.50
$ 1,060.29
10,667.08
250,000.00
775,000.00
52,300.00.
45,378.87*
$1,0439648.50
-35-
GOLF COURSE FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year Ended December 31, 1967
Appropriated
for Debt
Service Unappropriated
Balance (deficit) at January 1, 1967 $523,300.00 ($79,766.01)
Add net income for the year 34,387.14
Balance (deficit) at December 31, 1967 $522300.00 ($45,378.87)
-36- r'
GOLF COURSE FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1967
Balance at January 1, 1967
Additions:
Investments.sold
Revenue - see separate schedule
Net.income - operating:departments - see'
separate schedule
Add depreciation included therein not
requiring cash
Income on.investments
Decrease-in prepaid expenses
Increase in liabilities:
Balance at December, 312 1967:
Accounts payable $ 12060.29
Due to other funds 10,667.08
Balance at January 1,,1967:
Accounts payable $ 825.25
Due to other funds 69542.00
Accrued payroll 48.48
Deductions:
Investments purchased
Fixed assets purchased, less
carrying value of disposals
Payment to fiscal agent:
Principal
Interest
Service charge
Interest paid Liquor Dispensary. Fund
Operating expenses - see separate
schedule
Increase in accounts receivable:
Balance at December 31, 1967
Balance at January 1, 1967
Increase.in. amount due from other
funds
$16,839.00
1,858.00
$11,727.37
$ 47,851.25
148,680.14
18,697.00
3,351.00
84.80
7,415.73 49311.64
$25,000.00
25,775.00
96.00 $502871.00
6,475.00
$ 1,400.00
1)ia no
$ 509174.00
7,398.72
57,346.00
97,524.00
1,181.92
$ 3,951.16
222,975.83
$226,926.99
. 3,048.00 2162672.64
Balance at December 31, 1967 $ 109254.35
-37-
GOLF COURSE FUND
STATEMENT OF ' INCOME AND EXPENSE
VILLAGE OF EDINA
Year Ended December 31, 1967
Revenue:
Membership fees
Green fees:
Regular course
Short course
Locker rental
Other
Operating expenses:
Administration:
Salaries and wages:
Manager - pro
Rangers and starter
Cashiers, clerical and other
Audit
Printing
Supplies
Insurance and alarm system
Retirement, insurance, office supplies, etc.
Travel and mileage
Other
Building - club house and pro shop:
Salaries and wages
Utilities:
Telephone
Water and sewer
Fuel
Light and power
Laundry
Rubbish hauling
Less amount charged to grill
Insurance
Repairs - heating and plumbing
Repairs and replacement - building
Supplies
Other
$1,227.00
144.00
.1,128.00
1,074.00
805.00
480.00
$4,858.00
1,457.00
$111,993.00
18,676.00
$ 6,800.00
4,199.00
2,409.00
$13,408.00
450.00
1,347.00
196.00
573.00
6$00.00
67.00
412.00
$ 22,753.00
$ 2,689.00 -
3,401,.00
150.00
449.00
1,895.00
951.00
sF% nn
9$91.00
$ 162245.00
130,669.00
1,300.00
466.14
$1482680.14
-38-
GOLF COURSE FUND
STATEMENT OF'INCOME AND EXPENSE ( Cont'd)
Operating expenses (cont'd): .
Maintenance of course and grounds:
Salaries and wages:
Superintendent
$ 89520.00
Maintenance
27,682.00
$36,202.00
Equipment rental
290.00
Telephone
222.00
Light and power
39577.00
Fuel
308.00
Fertilizer and chemical
6,979.00
Sod, black dirt and seed
19088.00
Blacktop, sand and gravel
703.00
Repairs - water system
650,00
Repairs - building
348.00
Lumber
580.00
Equipment operation
122000.00
Supplies
19424.00
Loss on trade -in of.fixed assets
789.00
Other
20.00
$ 65,180.00
$ 97,524.00
$ 51,156.14
Net income - operating departments -
see
separate schedule
$ 169839.00
Income on investments
3,351.00
20,190.00
INCOME BEFORE INTEREST AND
DEPRECIATION
$ 71,346.14
Interest expense:
On bonds
On loan from Liquor,Dispensary Fund
Provision for depreciation
$ 25,871.00
6,475.00
INCOME BEFORE DEPRECIATION
NET INCOME
32,346.00
$ 39,000.14
4,613.00
$ 34,387.14
-39-
GOLF COURSE FUND
STATEMENT OF INCOME AND EXPENSE - OPERATING DEPARTMENTS
VILLAGE OF EDINA
Year Ended December 31, 1967
Driving range:
Revenue
Less.operating expenses:
Salaries and wages
Rental equipment
Replacement - balls
Other supplies
Provision for depreciation
Grill:
Sales:
Food
Beer
Other
Less cost of goods sold:
Food
Beer
Less operating expense:
Salaries and wages:
Manager
Cooks, waiters and waitresses
Insurance — liability
Dishes, napkins, tools, etc.
Repair work
Cleaning supplies
Expenses — prorated
Provision for depreciation
Village share of pro -shop profit in lieu.of rents
$18,290.00
$ 4,495.00
30.00
2,237.00
584.00
888.00 8,234.00 $10,056.00
$25,693.00
10,380.00
414.00
$36,487.00
$12,737.00
3,536.00 16,273.00
$20,214.00
$ 3,265.00
8,058.00
$11,323.00
261.00
1,400.00
79.00
141.00
1,457.00
15,631.00 4,583.00
2,200.00
NET INCOME $162839.00
-40-
GOLF COURSE FUND
I
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December 319 1967
Balance
January 'l,
Transfer
1967 .
Additions
Deductions
In Out
ASSETS
Golf course
$7229424.02
$3,990.00
Buildings:
I
Club house
$1730538.75
$663.51
Maintenance building
69491.92
Range building
2,212.64
$182;243.31
$ -
$ -
$663..51
Well
15,018.15
Parking lot and roadways
92627.32
Equipment:
Golf course equipment
$ 35,139.97
.. $4,619.00
$29105.00
Club house equipment
89100.91
Pro -shop equipment
29446.19
Range equipment
69160.93
Concession equipment
.99696.38
$ 61544..38
$4,.619.00
$2,105.00
$990;857.18
$8,609.00
$2,105.00
$663.51'
Construction in progress
';296.00
367.51 �.
(.,663.51)
$991,153.18
$8,976.51
$2,
ALLOWANCE FOR DEPRECIATION
Golf course equipment
$ 79634.23
$39639.70
$ 5261.25
Club house equipment
19255.94
728.48
Pro -shop equipment
529.95
244.63
Range equipment
19734.89
887.59
Concession equipment
2;326.94
969..64
$ 139481_.95
$69470.04
$ 526.25
$ -
NET BALANCE $977.2671.23
Balance
December 31,
1967 .
$7260414.02
$174,202.26
6,491.92
2,212.64
$1820906.82
15,018.15
9,627.32
$ 37,653.97
8,100.91
2,446.19
6,160.93
9,696.38
$ 64,05 .38
$9989024.69
$999,024.69
$ 109747.68
1,984.42
774.58
2,622.48
3,296.58
$ 199425.74
$978,598.95
-41-
GOLF COURSE FUND
BONDS PAYABLE
VILLAGE OF'EDINA
December 31, 1967
Annual.maturity and interest date December l
and June l
Interest rate 2.5% to 3.5%
Year
1968
$'25,000.00
1969
25,000.00
1970
25,000.00
1971
35;000.00
1972
35,000.00
1973
35,000.00
1974
35,000.00
1975
35,000.00
1976
35,000.00
1977
40,000.00
1978
40,000.00
1979
40,000.00
1980
40,000.00
1981
40,000.00
1982
40,000.00
1983
50,000.00
1984
50,000.00
1985
50,000.00
1986
50,000.00
1987
50,000.00
TOTAL $775,000.00
-42-
RECREATION.CENTER FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1967
ASSETS
Cash:
On deposit
Working fund
Investments:
Federal.National Mortgage Association - at cost
Accrued interest
Accounts receivable
Due from other funds
Merchandise inventory - at cost
Prepaid insurance
Fixed assets - on the basis of cost:
Land improvements
Building
Furniture and equipment
Less allowance for depreciation
$ 30,345.94
1,000.00
$ 30,000.00
104.40
$ 32,185.72
511,143.34
$ 31,345.94
30,104.40
5,256.00
6,698.87
1,829.21
732.48
$22,769.77
4,549.22 18,220.55 561,549.61
$637,516.51
LIABILITIES AND 'SURPLUS
Accounts payable
Accrued payroll
Accrued interest
Due to'Park Construction Fund
Due to Permanent Improvement Revolving Fund
Deferred income
Bonds payable
Appropriated surplus:
Contributed invested in.fixed assets
Invested in fixed assets
For debt service
Unappropriated surplus
$ 1,041.81
100,000.00
$ 8,308.50
3,241.11 $ 11,549.61
36,500.00
$ 9,011.53
1,403.27
4,696.67
101,041.81
$1163,153.28
7,355.00
450,000.00.
48,049.61
15,958.62
$637$16.51
-43-
RECREATION CENTER FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year Ended December 31, 1967
Unappropriated
Balance at January 1, 1967 $ -214.51*
Additions:
Net income for year 15,531.58
Fixed assets purchased 485.00*
Receipt of advance to Park Construction Fund 6,862.32
Transfers
Fixed assets from Park Construction 7,904.13*
Provision for depreciation 2_,168.36
Balance at December 31, 1967 $154;958.62
* Indicates red figure.
ADDrovriated
Contributed
Invested in Invested in For Debt
Fixed Assets Fixed Assets Service Total
$2,774.86 $9,416.30 $36,500.00 $48,691.16
485.00
6,862.32*
7,904.13
1,060.56*
$3,241.11
1,107.80*
$8,308.50
$36,500.00
485.00
6,862.32*
7,904.13
2,168.36*
$48,049.61
-44-
RECREATION.CENTER FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended.December 31, 1967
Balance at January 1, 1967 $46,302.04
Additions:
.Excess of revenue over expenses - see
separate schedule
$15,531.58
Add depreciation included therein not
requiring cash
2,168.36
$17,699.94
Decrease in due from other funds
163.45
Decrease in prepaid expenses
825.87
Increase in liabilities:
Balance at December 31, 1967:
Accounts payable
$9,011.53
Accrued payroll
1,403.27
Due to other funds
1,041.81
$11,456.61
Balance at January 1, 1967:
Accounts payable
$5,415.63
Accrued payroll
364.00
5,779.63
5,676.98 24,366.24
$70,668.28
Deductions:
Purchase of investments
Additions to fixed assets
Increase in working fund
Increase in accounts receivable
Increase in merchandise inventory
Decrease in deferred income
$30,104.40
8,389.13
300.00
291.00
49.81
1,188.00 40,322.34
Balance at December 31, 1967 $30,345.94
-45-
RECREATION.CENTER.FUND
STATEMENT OF INCOME AND EXPENSE
VILLAGE OF EDINA
Year Ended December 31, 1967
Revenues:
Season tickets
Daily fees
Spectator fees
Ice rental
Skate sharpening and repair
Other
Concession income
Less operating expenses:
Cost of food sold
Salaries and wages
Supplies and expense
Less operating expenses:
Salaries and wages:
Manager
Supervision
Ice guard
Cashier and ticket takers
Clerical
Custodian
Maintenance
Organist i
Other expenses:
Light and power
Fuel and heat
Central services
Equipment maintenance
Service contract equipment
Lumber and paint
Mileage and conference expense
Telephone
Printing
Supplies
Insurance
Advertising
Rubbish hauling
Other
Income on investments
Interest on bonds
Provision for depreciation
$16,633.00
$ 4,783.00
3,399.00
263.00 8,445.00
$ 7,650.00
8,602.00
1,707.00
3,196.00
1,451.00
6,552.00
12,596.00
1,290.00 $43,044.00
$10,152.00
9,401.00
5,160.00
4,868.00
851.00
2,511.00
651.00
930.00
1,707.00
6,207.00
1,131.00
542.00
600.00
866.64 45,577.64
INCOME BEFORE,DEPRECIATION
NET INCOME
$ 17,251.00
10,197.00
21,720.00
56,804.00
5,165.00
1,019.00
8,188.00
$120,344.00
88,621.64
$ 31,722.36
104.00
$ 31,826.36
14,126.42
$ 17,699.94
2,168.36
$ 15,531.58
-46-
ASSETS
Land
Building
Furniture and equipment
ALLOWANCE FOR.DEPRECIATION
Furniture and equipment
RECREATION.CENTER FUND
:'FIXED ASSETS
VILLAGE , OF • ED INA
Year Ended.December 31, 1967
Balance
January 1,
1967
$ 32,185.72
504,926.71
20,597.27
$557,709.70
2,380.86
NET BALANCE $555,328.84
$2,168.36 4,549.22
$561,549.61
-47-
alance
2wember
31,
Additions
1967
$ 32,185.72
$6,216.63
5113,143.34
2,172.50
22,769.77
$831389.13
$56631098.83
$2,168.36 4,549.22
$561,549.61
-47-
Annual maturity and interest date
Interest rate
Year
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
RECREATION CENTER FUND
BONDS PAYABLE
VILLAGE OF EDINA
December 31, 1967
March 1 and
September 1
3% to
3%
3.3%
Series A
Series B
Total
$ 10,000.00
$ 5,000.00
$ 15,000.00
10,000.00
5,000.00
15,000.00
10,000.00
5,000.00
15,000.00
10,000.00
5,000.00
15,000.00
10,000.00
5,000.00
15,000.00
20,000.00
10,000.00
30,000.00
20,000.00
10,000.00
30,000.00
20,000.00
1031000.00
30,000.00
20,000.00
10,000.00
30,000.00
20,000.00
10,000.00
30,000.00
30,000.00
15,000.00
45,000.00
303,000.00
15,000.00
45,000.00
30,000.00
15,000.00
45,000.00
30,000.00
15,000.00
45,000400
30,000.00
15,000.00
45,000.00
TOTAL $300,000.00
$150,000.00
$450,000.00
-48-
PARK SINKING FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1967
ASSETS
Cash:
Demand deposits
Investments.- at face value:
Edina Park System Bonds
United States Treasury bills
Receivables:
Due from Swimming Pool Fund
Taxes receivable - current and delinquent
Taxes receivable - deferred
Less allowance for delinquent and
uncollectible taxes
LIABILITIES, RESERVE AND SURPLUS
Amount payable during 1968:
Interest
Bonds
Bonds payable
Less current portion - shown above
Reserve for future interest
Less current portion - shown above
Surplus - unappropriated
$ 10,000.00
50,000.00
$ 15,382.50
$ 52,608.29
755,000.00
$807,608.29
$ 28,272.66
60,000.00
41,433.29 766,175.00. 781,557.50
$650,000.00
40,000.00
$181,115.00
23,485.00
$869,830.16
$ 23,485.00
40,000.00
$ 63,485.00
610,000.00
157,630.00
38,715.16
$869,830.16
-49-
PARK SINKING FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year Ended December 31,1967
Balance at January 1, 1967
Additions:
Income on investments
Transfers:
Reserve for future interest
Reserve for uncollectible taxes
Less portion allocated to
Swimming Pool Fund
Deductions:
Allowance for delinquent taxes
Payment to fiscal agents:
Interest
Service charge
Balance at December 31, 1967
$24,835.00
$4,515.00
$ 459.24
$35,667.72
1,117.50 3,397.50 28,232.50 •28,691.74
$64,359.46
$ 1,459.89
$24,073.00
111.41 24,184.41 25,644.30
$38,715.16
-50- �i
PARK SINKING FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1967
Balance at January 1, 1967
Additions:
Tax settlements received from county:
March 1967 $ 3,187.50
June 1967 242745.30
November 1967 23,507.31
Income.on investments
Payment' recei-�red -on.:,.amounta: due from .
other funds at December 31, 1966
Deductions:
Purchase of investments
Payment to fiscal agents:
Principal $40,000.00
Interest 24,073.00
Service charge 111.41
Balance at December 31, 1967
$51,440.11
459.24
. 15,715.50
$50,000.00
$ 7411842.22
67,614.85
$1422457.07
. 64,184.41 114,184.41
$ 28,272.66
-51-
PARK SINKING FUND
BOND AND INTEREST MATURITIES AND DEFERRED TAX LEVIES
VILLAGE OF EDINA
December 31, 1967
Annual maturity and interest date
Interest rates
Year
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
TOTAL
*.IndicAtes' red figure..
Bonds
$ 40,000.00
40,000.00
40,000.00
50,000.00
50,000.00
50,000.00
50,000.00
40,000.00
50,000.00
50,000.00
50,000:00
50,000.00
50.000.00
$6103P000.00
March 1, June 1,
September 1, and
December 1
2% to 3.90%
Excess of Deferred
Levies over
Bond and Interest
Interest Maturities
$ 22,135.00
20,755.00
19,375.00
17,810.00
16,040.00
14,230.00
12,380.00
10,530.00
8,775.00
6,825.00
4,875.00
2,925.00
975.00
$157,630.00
$ 6,865.00
9,245.00
10,625.00
3,190.00
5,960.00
7,770.00
10,620.00
12,470.00
5,225.00
8,175.00
11,125.00
52,925.00*
50,975.00*
.$12,630.00*
Deferred
Levies
$ 695P000.00
70,000.00
70,000.00
71,000.00
72,000.00
72,000.00
73,000.00
63,000.00
64,000.00
65,000.00
66,000.00
$755,000.00
-52-
PARK CONSTRUCTION FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1967
ASSETS
Cash:
On deposit
Investments:
Edina Park System Bonds - at face value
Receivable:
Due from other funds
Fixed assets - at cost:
Land
Construction in progress
Equipment
LIABILITIES, RESERVE AND SURPLUS
Trade accounts payable
Due to other funds
Contracts payable for puchases of land
Surplus invested in fixed assets
Reserve for construction
$ 18,850.11
16,000.00
5,031.81
$767,345.10
668,526.27
20,486.73 1,456,358.10
$1,496,240.02
$ 1,060.00
1,609.00
77,539.22
1,378,818.88
37,212.92
$1,496,240.02
-53-
PARK_ CONSTRUCTION FUND '
ANALYSIS OF RESERVE FOR CONSTRUCTION
VILLAGE OF EDINA
Year Ended.December,31, 1967
Balance at January 1, 1967
Additions:
Transfer from-Liquor Dispensary Fund
Deductions:
Sale of investments
Purchase-of fixed assets
Transfer to Golf-Course Fund
Transfer to Recreation Center Fund
$165,234.58
80,000.00
$245,234.58
$ 178.75
195,948.78
$3,990.00
7,904.13 11,894.13 208,021.66
Balance at December 31, 1967 $ 37,212.92
-54-
PARK CONSTRUCTION FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE -OF EDINA
Year Ended December 31, 1967
Balance at January 1, 1967
Additions:
Transfer from-.Liquor.Dispensary-Fund
Payment from Golf Course Fund
Sale of investments
Increase in liabilities:
Balance at-December-31, 1967:
Accounts payable
Due to Park Fund
Contracts payable
Balance at January 1, 1967
Deduction:
Purchase of fixed assets
$ 43,544.40
$80,000.00
65,000.00
49,821.25
$ 1;060.00
1,609.00
77,539.22
$80,208.22
2,447.50 77,760.72 272,581.97
$316,126.37
297,276.26
Balance at December 31, 1967 $18,850.11
-55-
PARK CONSTRUCTION FUND
FIXED ASSETS
VILLAGE OF EDINA
December 31, 1967
Land:
Garden Park
Braemar Park
Cornelia School Park
Pamela Park
Alden Park
Beard Park
Arden Park
Countryside Park
Lake Edina Park
York Park
Birchcrest Park
Division Park
Normandale Park
Walnut Ridge Park
Heights Park
Valley View School site
Creek Valley School Park
Mud Lake area
Cornelia Park
Construction in progress:
Utley Park
Chowen Park
Cornelia Park
Pamela Park
Arden Park
Normandale'Park
Alden Park
Highlands-Park
York Park
McGuire Park
Beard Park
Cornelia School Park
Lake Edina Park
Countryside Park
Braemar Park
Division Park
Valley View School site
$ 15,007.09
221,749.65
12,639.48
2,440.00
23,506.60
26,715.00
1,250.00
:18,300.00
30,330.00
7,369.21
11,620.22
,7,942.65
16,594.04
3,466.84
23,537.13
1,217.55
28,809.53
236,640.62
78,209.49
$:22,041. 23
. 5,, 645.77
44,872.45
177,313.19
17,629.22
45,543.57
30,576.10
58,122.22
7,647.36
2,836.17
12,983.64
41,439.64
18,352.75
21,362.64
31,926.91
32,448.96
8,696.96
$ 767,345.10
-56-
Construction in progress (cont'd):
Garden Park
Walnut Ridge Park
Heights Park
Creek Valley School Park
St. John's Park
Tingdale Park
Birchcrest Park
Bristol Park.
Nine Mile Creek Parkway
Sherwood Pump Park
Mud Lake.area
Equipment
PARK CONSTRUCTION FUND
FIXED ASSETS ( Cont'd)
SUMMARY OF CHANGES IN FIXED ASSETS
$ 42,118.02
7,576.15
25,041.11
530.00
733.33
2,780.28
1,693.67
3,863..50
2,800.92
700.51
1,250.00 $ 668,526.27
20,486.73
TOTAL $1,456,358.10
Balance at January 1, 1967 $1,170,975.97
Purchase of fixed assets 297,276.26
$1,468,252.23
Deduct:
Transfer to Recreation Center Fund $ 7,904.13 -
Transfer to Golf Course Fund 3,990.00 11,894.13
Balance at December 31, 1967 $1,456,358.10
-57-
IMPROVEMENT FUNDS
COMBINED BALANCE SHEET
VILLAGE OF EDINA
i
December 31, 1967
i
Construction
Joint Permanent
Sewer Improvement
No.,l Revolving
$ 428,710.15* $2,659.62 $ 5,688.81
$ 428,710.15* $29659.62 $ 5,688.81
120,599.25
3,090,280.32
530,669.22"
95,707.36
$3,287,946.75
$ 5,868.11
530,669.22
2,684,766.66
38,890.51
27,752.25
$3,287;946.75
$ 8,167.95
30,143.45
2,750.46
I
I
Sanitary
Sewer Southdale
No. .53 Improvement
$.22.,203.17 $ "5,813.70
$ 22,203.17 $ 5,813.70
155,000.00 100,000.00
$ 26,926.06
2,900.94
103,561.77
Improvement Municipal
Bond State -Aid
Redemption Street Bond
$ 7,6,409.81: .$251.18
100,000.00
$ `176;409:81 $251.18
1,591,000.00,,
$ 1,069066.,75,
253,652.43
6,163,150,05
Total
i
Eliminations
ASSETS
Cash:
211,753.95
Demand deposits
$
315,683.86*
$ -
Time deposits
$ -
100,000.00
30,689.35
11,634.69
$
215,683.86*
$
Investments
$ 10,372.51
1,966,599.25
$ -
Receivables:
$ -
100,000.00
Special assessments:
4,454.14
Current - certified in 1967 - collectible in 1968
$
1,404,460.76
Delinquent
286,696.82
t
Deferred
6,269,462.28
Taxes and assessments receivable — Village share
of projects:
$2,659.62
I.
Current.and delinquent
$110,267.84
11,214.90
$251.18
Deferred
275,941.17_
$ 2,027.69 ,
$
8,247,775.93
$ -
Less allowance for delinquent taxes
$ 900.00
683,954.91
$
7,563,821.02
$ -
Due from other funds
104,454.14
Due from ..Construction Fund for advances
-
2,684,766.66
Construction in progress:
Current
3,090,280.32
Deferred
90,000.00
530,669.22
Unallocated construction cost
7,854.91
168,348.63
13,091.60
Prepaid interest
19,164.00
328,727.86
.
$13,2279652.72
$2,684,766.66
LIABILITIES, RESERVE AND SURPLUS
$2,659.62
$336,660.57
j
Accounts payable
$
29027.69
Accrued interest
669280.20
'
Due to Hennepin County
9,944.60
{
Due to other funds
10,322.25
Construction contracts payable
530,669.22
Advance from Improvement Funds
-
$2,6849766.66
Payable to City of Minneapolis for Village share
of sewage disposal plant
95.22
Bonds payable
10,5309000.00
Construction deposits
38,890.51
Reserve for assessment adjustments
669709.99
Reserve for construction
27,752.25
Surplus - unappropriated
1,944,960.79
$1392279652.72
$29684,766.66
i
* Indicates red figure.
I
{
;I
Construction
Joint Permanent
Sewer Improvement
No.,l Revolving
$ 428,710.15* $2,659.62 $ 5,688.81
$ 428,710.15* $29659.62 $ 5,688.81
120,599.25
3,090,280.32
530,669.22"
95,707.36
$3,287,946.75
$ 5,868.11
530,669.22
2,684,766.66
38,890.51
27,752.25
$3,287;946.75
$ 8,167.95
30,143.45
2,750.46
I
I
Sanitary
Sewer Southdale
No. .53 Improvement
$.22.,203.17 $ "5,813.70
$ 22,203.17 $ 5,813.70
155,000.00 100,000.00
$ 26,926.06
2,900.94
103,561.77
Improvement Municipal
Bond State -Aid
Redemption Street Bond
$ 7,6,409.81: .$251.18
100,000.00
$ `176;409:81 $251.18
1,591,000.00,,
$ 1,069066.,75,
253,652.43
6,163,150,05
-58-
J1,214.90
64,187.22
211,753.95
$ -
$ 41,061.86
$197,575.99
$ -
$ 8,009,138.08
$ -
30,689.35
11,634.69
641,630.87
$ -
$ 10,372.51
$185,941.30
$ -
$7,367,507.21
$ -
100,000.00
4,454.14
100,000.00
2,584,766.6.6,11
72,641.27
19,164.00 .
$2,659.62
$336,660.57
$363,144.47
$110,267.84
$11,811,488.95
$251.18
$ 2,027.69 ,
$ 900.00
65,380.20
$ 77.80
$ 470.25
9,396.55
...4,454.14
$ 95.22
280,000.00
90,000.00
10,160,000.00
7,854.91
1
13,091.60
45,763.48
2,564.40
328,727.86
82,674.22
6,276.24
1,524,466.89
$251:18
$2,659.62
$336,660.57
$363,144.47
$110,267.84
$11,811,488.95
$251.18
-58-
IMPROVEMENT FUNDS
STATEMENT OF SURPLUS - UNAPPROPRIATED
VILLAGE OF EDINA
Year-Ended December 31, 1967
-59-
Improvement
Joint
Permanent
Sanitary
State -Aid
Improvement
Sewer
Improvement
Sewer
$1,321,799.15
Total
No. 1
Revolving
No. 53
Balance at January 1, 1967
$1,731,131.59
$2.,564.40,'.
$322,010.19
$79,883.62
Additions:
17.19
$4,388.79
Interest spread on.assessment for collection
$ -
$2,775.00
$ 332,849.83
in.1968
$. 385,644.21
$ 498.29
$ 6,213.71
.Income on investments
105,786.17
5,668.13
8.,685.57.
Capitalized interest
65,786.81
$6,208.22
$1,517,086.67
$251.18
Overcollection on special assessments.
17.19
$6,276.24
$1,524,466.89
$251.18
$ 557,234.38
$ - i
$ 6,166.42
$14,899.28
Deductions:
Interest on bonds
$ 345,664.83
$10,040.00
Bank service charges
2,751.29
75.10
Cost of bond sale
992.42
Cancellations and adjustments
5,444.00
$. 530.13
4,911.32
$ 354,852.54
$ -
$ 530.13
$15,026.42
$1,933,513.43
$2,564.40
$327,646.48
- $79,756..48
Transfers - add:
Allowance for delinquent taxes
11,447.36
1,081.38
2,917.74
Balance at December 31, 1967
$1,944,960.79
$2,564.40
$328,727.86
$82,674.22
-59-
Improvement
Municipal
Southdale
Bond
State -Aid
Improvement
Redemption
Street.Bonds
$4,623.05
$1,321,799.15
$251.18,
j
$ 378,932.21
$4,371.60
87,060.87
65,786.81
17.19
$4,388.79
$ 531,779.89
$ -
$2,775.00
$ 332,849.83
26.07
2,650.12
1
992.42
2.55
$2,803.62
$ 336,492.37_
$6,208.22
$1,517,086.67
$251.18
68.02
7,380.22
$6,276.24
$1,524,466.89
$251.18
-59-
i
IMPROVEMENT FUNDS
ANALYSIS OF CHANGE IN.CASH'BALANCE`
,I
VILLAGE OF EDINA
Year Ended December 31, 1967
Joint Permanent
Sanitary
Combined
Improvement
Construction
Sewer Improvement
Sewer
Balance at January 1, 1'967
Bond.
$ '24,642.37 �.
075.85*
$ 352,075.85*
Additions:
Improvement
Redemption ,
- Street Bonds
Remittance from County Auditor:
$2,994.41 $ 7,126.23
$ 20,466.46*
$ 15,118.90.
On special. assessments
$251.18
$1,432,322.24
i
$29,017.07
On taxes receivable
$1,389,025.36.
10,723.16 a
Collections by Village on special assessments
497,588.13 ;
Proceeds from sale of bonds"
5,305.91
2,002,266.68 '
489,977.61
Sale of investments
2,256,689.92
Collection from other funds
1,752:05
$ 1,752.05 .
Advance from Improvement Funds
1,937,060.87
2,500,000.00 i
2.,500,000.00
Payment received on connection charges
2,899.31
22,007.01
Construction.deposit received
$243,008.55
20.,397..64 `s,
20,397.64
Payment made by another fund
$5,848,161 :38
5,868.11 1
.5,868.11
$8,749,614.94
$2,528,017.80
Deductions:
Construction costs charged to others:
General Fund
$ 7$96.39
Permanent Improvement Revolving Fund
7,655.33
Park.Fund
1,400.00
Improvement Bond Redemption Fund
1,174$73.18
Hennepin County
53,879.38
State of Minnesota Highway Department -
State -Aid division
115$64.68
Other
18,000.00
$1$78,268.96
Less collections received
177,705.17
$1,200,563.79
i
Increase in construction in progress:
j
Balance at December 31, 1967:
Current construction $3,090,280.32
Deferred construction 530,669.22
.Unallocated cost 95,707.36
$3,716,656.90
Balance at January 1, 1967:
Current construction $1,812,063.01
Deferred construction 320,031.12
Unallocated costs 15,393.14
2,147,487.27
$1,569,169.63
Less increase in contracts
payable:
Balance at December 31, 1967 $ 530,669.22
Balance at January. 1, 1967 320,031.12
210,638.10 1,358,531.53
2,559,095.32
2,559,095.32
(Balance Carried Forward)
$6,215,161.99
$ 383,153.37*
Joint Permanent
Sanitary
Improvement
Municipal
Sewer Improvement
Sewer
Southdale
Bond.
State -Aid
No. 1 Revolving
No. 53
Improvement
Redemption ,
- Street Bonds
$2,994.41 $ 7,126.23
$ 20,466.46*
$ 15,118.90.
$ 371,693.96
$251.18
$12,902.30
i
$29,017.07
$ 1,377.51
$1,389,025.36.
10,723.16
2,304.61
5,305.91
489,977.61
.
2,002,266.68
6,571.88
208,685.57
104,371.60
1,937,060.87
2,899.31
19,107.70
$ - $21,778.79
$243,008.55
$108,648.42
$ -
$5,848,161 :38
$2,994.41 $28,905.02 $222,5142.09 $123,767.32 $6,219,855.34. $251.18
IMPROVEMENT FUNDS
ANALYSIS OF CHANGE IN. ,CASH. BALANCE; , (Cont?.d)
(Balance Brought Forward)
Deductions (cont'd):
Payment to other funds accrued at December 31, 1966
Investments purchased
Payment to County Auditor for bookkeeping charges
Transfer to Construction Fund
B'onds:.: redeemed
Interest on bonds
Bank service charges
Cost of bond sale
Paid to City of Minneapolis - sewage disposal plant
Payment on connection charges
Construction costs
Return on construction deposits
Refunds
Prepaid interest
Balance at December 31, 1967
* Indicates red figure.
f
Combined i Construction
$6,215,161.99 $ 383,153.37*
$ 18,209.49
1,950,000.00
1,395.90
2,500,000.00
1,555,000.00
326,785.00
2,751.29 a
992.42
334.79
2,301.49
7,655.33
45,556.78 $ 45,556.78
.699.36
1.9.,164.00
$6,430,845.85 $ 45,556.78
$. 215,683.86 *: - '$ 428,710.15*
Joint
Permanent
Sanitary
Improvement
Municipal
Sewer
Improvement
Sewer Southdale
Bond
State -Aid
No. l
Revolving
No. 53 Improvement
Redemption
Street Bonds
10,040.00
2,925.00
$2,994.41
$28,905.02
$222,542.09 $123,767.32
$6,219,855.34
$251.18
$15,000.00
23.80
$ .334.79
7,655.33
537.08
334.79 $23,216.21
$2,659.62: $ 5,688.81
-61-
$ 18,209:49
$150,000.00
$100,000.00
1;685,000.00
202.70
2.55
1,166.85
295009000.00
40,000.00
159000.00
1,500,000.00
10,040.00
2,925.00
313,820.00
75.10
26.07
2,650.12
992.42
2,301.49,
21.12
141.16
...19,164.00
$200,338.92
$117,953.62
$6,043,445.53 $ -
.$ 22,203.17
$ 5,813.70
$ 176,409.81 $251.18
-61-
IMPROVEMENT FUNDS
BONDS PAYABLE
VILLAGE OF EDINA
December 31, 1967
Annual maturities and interest dates
Interest rate
Year Total
Sanitary
Sewer Southdale
No. 53 improvement
January 1 March 1 and
and July 1 September 1
3%
$15,000:00
15,000.00
15,000!00
15;000.00
:15,000.00
15,000.00
:?yu,uuu.vu
Improvement
Bond
Redemption
March 1,
May 1, June 1,
September 1,
November 1 and
December 1
2% to 4.20%
$ 1,320,000.00
1,320,000.00
1,295,000.00
1,095,000.00
1,095,000.00
1,095,000.00
795,000.00
655,000.00
655,000.00
305,000.00
265,000.00
265,000.00
$10,160,000.00
-62-
I
3 1/4% and
3 1 /10%
1968
$ 1,335,000.00
1969
1,375,000.00
$ 40,000.00
1970
1,350,000.00
40,000.00
1971
1,150,000.00 i
40,000.00
1972
1,150,000.00 i
40,000.00
1973
1,150,000.00
40,000.00
1974
835,000.00
40,000.00
1975
695,000.00
40,000.00
1976
655,000.00
1977
305,000.00
1978
265,000.00
1979
265,000.00
TOTAL
$10,530,000.00
I
1
l
j
$280,000.00
3%
$15,000:00
15,000.00
15,000!00
15;000.00
:15,000.00
15,000.00
:?yu,uuu.vu
Improvement
Bond
Redemption
March 1,
May 1, June 1,
September 1,
November 1 and
December 1
2% to 4.20%
$ 1,320,000.00
1,320,000.00
1,295,000.00
1,095,000.00
1,095,000.00
1,095,000.00
795,000.00
655,000.00
655,000.00
305,000.00
265,000.00
265,000.00
$10,160,000.00
-62-
WATERWORKS
BALANCE
VILLAGE
December
ASSETS
CURRENT ASSETS
Cash:
Demand deposits (overdrawn)
($
4,797.10)
Appropriated funds
26,829.75
$
22,032.65
Investments - at face value or cost:
United States Treasury notes and United States
Government Agency securities
$
275,242.53
Accrued interest
1,607.29
$
276,849.82.
Less amount segregated and shown below
68,974.00
207,875.82
Accounts receivable:
From customers
$
56,072.48
Due from other funds a
13,075.80
69,148.28
Inventories:
Meters - at cost
$
26,695.30
Supplies - estimated
1,750.00
28;4,45.30
r5
Prepaid insurance
526.00
TOTAL CURRENT ASSETS
$.
328,028.05
OTHER ASSETS
Segregated investments - reserve for debt
retirement 68,974.00
FIXED ASSETS — Note A
Land $ 27,556.38
Land improvements $ 13,583.74
Distribution system 4,436,708.46
Buildings and equipment 1,720,623.25
$6,170,915.45
Less allowance for depreciation 1,344,427.98 4,826,487.47
Construction in progress 39,.842.60 4,893,886.45
$5,290,888.50
FUND
SHEET
OF ED INA
31, 1967
LIABILITIES AND SURPLUS
CURRENT LIABILITIES
Accounts payable and accrued expenses:
Trade accounts
Salaries and wages
Interest
Current maturities of bonds payable
LONG -TERM DEBT
Bonds payable Note B
Less current maturities.- shown above
SURPLUS
Invested in fixed assets
Revaluation of fixed assets - Note A
Contributed by special assessments -
Note A
Contributed by General Fund
Earned:
Appropriated
Unappropriated
See notes to balance sheet.
$ 24,107.67
755.17
4,108.83
$ 28,971.67
48.000.00
TOTAL CURRENT LIABILITIES $ 76,971.67
$ 671,000.00
48,000.00 623,000.00
$ 745,360.75
25,967.56
3,439,873.20
11,684.94 $4,222,886.45
$. 95,803.75
272,226.63 368,030.38 4,590,916.83
$5,290,888.50
-63-
WATERWORKS FUND
NOTES TO. BALANCE :SHEET
VILLAGE OF'EDINA
December 31, 1967
Note A - The original utility purchased in 1947 is carried at amounts based on appraisal at
time-of acquisition. Subsequent purchases are carried at cost. Watermains for
which the benefited property owners have been assessed are carried at construction
cost with contra - credit to surplus contributed by special assessments. Each of
the aforementioned amounts has been reduced by the depreciation thereon charged to
income, which income has been transferred to earned surplus.
Note B - The annual maturities, due dates and interest rates of the bonds payable are as
follows:
$80,000.00 $211,000.00 $380,000.00 $671,000.00
Bonds of the 1955 issue are subject to redemption and prepayment at the option of
the Village on any interest date. Bonds maturing after March 1, 1970 of the 1959
issue shall be subject to redemption and prepayment at the option of the Village
on said date and any interest date thereafter, at a price of par and accrued
interest, plus a premium of $10.00 for each bond redeemed, and in inverse order
of their serial number. Thirty days prior notice must be given to bondholders.
-64-
1955 Issue .
1959 Issue
1963 Issue
Total
Annual maturities and
interest dates
March l and
March l and
June l and
September 1
September 1
December 1
Interest rates
2.50%
3.40% and
2.80%, 3.00 %,.
3.50%
3.20% and
3.30%
Annual amount of
maturities:
1968..
$30,000.00
$ 8,000.00
$ 10,000.00
$ 48,000.00
1969
30,000.00
8,000.00
10,.000.00
48,000.00
1970
20,006.00
15,000.00
10,000.00
45,000.00
1971
35,000.00
20,000.00
55,000.00
1972
35,000.00
20,000.00
55,000.00
1973
35,000.00
20,000.00
55,000.00
1974
35,000.00
20,000.00
55,000.00
1975
40,000.00
20,000.00
60,000.00
1976
50,000.00
50,000.00
1977
50,,000.00
50,000.00
1978
50;000.00
50,000.00
1979
50,000.00
50,000.00
1980
50,000.00
50,000.00
$80,000.00 $211,000.00 $380,000.00 $671,000.00
Bonds of the 1955 issue are subject to redemption and prepayment at the option of
the Village on any interest date. Bonds maturing after March 1, 1970 of the 1959
issue shall be subject to redemption and prepayment at the option of the Village
on said date and any interest date thereafter, at a price of par and accrued
interest, plus a premium of $10.00 for each bond redeemed, and in inverse order
of their serial number. Thirty days prior notice must be given to bondholders.
-64-
WATERWORKS FUND
STATEMENT OF SURPLUS
i
VILLAGE-OF EDINA j
Year Ended December 31, 1967
i
Invested Contributed
Earned Surplus Iw Fixed by
Total Unappropriated Appropriated Assets Assessments
Balance at January 1, 1967 $4,390,814.62 $153,888.37 $92,476.25 $724;937.97 $3,380,849.94
Additions:
i
I
Contributed
by
General Fund Revaluation
i
i $12,012.55 $26,649.54
Watermains contributed by special
assessments
140,460.86
140,460.86
Net income for year
59,641.35
59,641.35
$4,590,916.83
$2132529.72 $923,476.25
$724,937.97
$3,521,310.80
$12,012.55. $26,649.54
Transfers:
Provision for depreciation
-
152,805.08
70,357.89*
81,437.60 j
327.61* 681.98*
Bonds retired
-
48,000.00*
48,000.00
Additions to fixed assets
-
42,780.67*
I 42,780.67
Increase in appropriation of funds
for reserve for debt retirement,
=
3,327.50* 3,327.50
i
Balance at December 31, 1967
$745,360.75
$3,439,873.20
$11�684.9�4 $25.
* Indicates red figure.
I
1
i
I
I
�
I
WATERWORKS FUND
STATEMENT OF INCOME AND EXPENSE
VILLAGE'OF EDINA
Per Cent to
Year Ended December 31 Increase Gross Income
1967 1966 Decrease* 1967 1966
Number of meters in use:
At end of year 8,336 7,797 539
At beginning of year 7,797 7,446 351
Income:
Sale of meters
$ 34,337.00
$ 20,611.00
$13,726.00
Less cost of meters sold
28,439.00
17,157.00
11,282.00
GROSS PROFIT ON METERS
$ 5,898.00.
$ 3,454.00
$ 2,444.00
Water sales
373,678.00
3219107.00
52,571.00
Penalties
6,494.00
5,327.00
13,167.00
Water connection permits
2,840.00
1,885.00
955.00
Tapping fees
194.00
234.00
40.00*
Use of hydrants
13,076.00
11,296.00
1,780.00.
Miscellaneous
1,128.35
1,420.73
292.38*
$403,308.35
$344,723.73
$582584.62.
100.00% 100.00%
Expenses:
Pumping:
Labor
$ 6,625.00
$ 6,611.00
$ 14.00
Power and light
43,372.00
37,914.00
5,458.00
Supplies and repairs
9,921.00
253.00
9,668.00
Buildings:
Labor
1,515.00
13,230.00
285.00
Fuel
2,098.00
1,891.00
207.00
Supplies
310.00
380.00
70.00*
Telephone
187.00
204.00
17.00*
Repairs
984.00
186.00
798.00
Insurance
491.00
617.00
126.00*
Water purchased
18,395.00
627.00
17,768.00
Provision for depreciation
21,973.00
27,262.00
5,289.00*
$105,871.00
$ 77,175.00
$28,696.00
26.25 22.39
Distribution:
Labor
$ 8,865.00
$ 7,829.00
$ 1,036.00
Materials and supplies
1,832.00
5,385.00
3$53.00*
Operation of meters: .
Labor
7,511.00
419109.00
33,402.00
Supplies and expenses
932.00
1,120.00
188.00*
Provision for depreciation
87$21.00
82,077.00
5,244.00
Repairs
9,184.00
10,722.00
1,538.00*
$115,645.00
$111,242.00
$ 4,403.00
28.68 32.27
Tanks, towers and reservoir:
Labor
$ 437.00
$ 401.00
$ 36.00
Power and lease lines
1,696.00
1$02.00
194.00
Supplies and expenses
5.00
-
5.00
Provision for depreciation
22,678.00
22,668.00
10.00
Insurance
485.00
380.00
105.00
$ 25,301.00
$ 24,951.00
$ 350.00
6.27 7.24
-66-
WATERWORKS FUND
STATEMENT OF INCOME AND EXPENSE ( Cont'd)
Expenses (cont'd):
Water treatment:
Labor
Supplies and expense
Provision for depreciation
Vehicle operations:
Allocated from equipment
pool
Provision for depreciation
Administrative and general:
Salaries:
Superintendent
Clerical
Meter reading
Meter reading supplies
Office supplies, postage,
telephone, hospitalization,
Year Ended.December 31 Increase
1967 1966 Decrease*
Per.Cent to
Gross Income
1967 1966
$ 4,207.00 $ 2,239.00 $..1,968.00
11$84.00 11,018.00 566.00::
18,616.00 18,616.00 -
$ 34,407.00 $ 31,873.00 $ 2,534.00 8.53% 9.24%
$ 53,676.00
$ 411740.00
$ 936.00
1,544.00
1,538.00
6.00
$ 7,220.00
$ 6,278.00
$ 942.00 1.79 1.82
$ 10,088.00
$ 9,384.00
$ 704.00
5,497.00
4,494.00
1,003.00
9,354.00
5,943.00
3,411.00
158.00
118.00
40.00
etc. 5,700.00
Supervision 3,000.00
Provision for depreciation 673.00
Professional services 1,902.00
Supplies and expenses 829.00
Building rental 624.00
$ 37,825.00
TOTAL EXPENSES - $326,269.00
OPERATING INCOME $ 77,039.35
Income on investments 4,644.00
Other deductions:
Interest on bonds
Fiscal agent service charge
NET INCOME
Depreciation charged to
operations included in
,expenses
$.81,683.35
5,580.00
3,000.00
664.00
1,150.00
633.00
540.00
$ 31,506.00
$283,025.00
$ 613,698.73
4,195.00
$ 65,893.73
$ 21,921.00 $ 23,309.00
121.00 124.00
$ 22,042.00 $ 23,433.00
$ 59,641.35 $ 42,460.73
120.00
9.00
752.00
196.00
84.00
$ 6,319.00
$43,244.00
$15,340.62
,. ._ A AA
Y J a, 1 U7. v G
$ 1,388.00*
3.00*
$ 1,391.00*
$17,180.62
$1521805.00 $152,827.00 $, 22.00*
9.38
9.14
80.90%.
82.10%
19.10 %,
17.900%
1.15
1.22
20.25% 19.12%
5.4.6' .
14.79 %a
12.32%
-67-
WATERWORKS FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended.December 31, 1967
Balance at January 1, 1967
Additions:
Collections on accounts receivable
Collection on amount due from other funds
Sale of water meters
Income on investments
Sundry sales and services
Increase in amounts payable:
Balance at December 31, 1967:
Trade accounts $ 241107.67
Accrued payroll 755.17
$ 24,862.84
Balance at January 1, 1967:
$375,465.25
26,606.15
34,337.00
4,644.00
3,034.00
$ 63,190.71
Trade accounts $
3,682.44
Accrued payroll
214.28 3,896.72
20,966.12.
465,052.52
$528,243.23
Deductions:
Payment to fiscal agents:
Principal
$ 48,000.00
Interest
22,291.00
Service charge
121.00
$ 70,412.00
Meters purchased
41,829.85
Additions to fixed assets
$183,241.53
Less contributed by special assessments
140,460.86
42,780.67
Purchase of investments
174,511.02
Operating expenses
$326;269.00
Less provision for depreciation
152,805.08
173,463.92
Payment of sales tax
3,137.00
Increase in prepaid expense
76.12
506,210.58
Balance at December 31, 1967
$ 22,032.65
Summary:
Sinking Fund
Operating Fund (overdrawn)
$26,829.75
( 4,797.10)
TOTAL $22;032.65
WATERWORKS FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December 31, 1967
-69-
A s s e
t s
Allowance for
Depreciation
Balance
Balance
Balance
Balance
January 1,
December 31,
January 1,
December
31,
1967
Additions
Deductions
1967
1967
Additions
Deductions
1967
Land
$ 27,556.38
$ 27,556.38
$
-
$
-
Land improvements
13,311.01
$ 272.73
13,583.74
3,828,.02
$ 538.46
4,366.48
Distribution system:
Purchased
$ 277,769.71
$ 277,769.71
$
101;297.72
$ 5,555.38
$
106,853.10
Contributed by special assessments
4,002,097.23
$140,460.86
4,142,558.09
621,247.29
81,437.60
702,684.89
Contributed by General Fund
16,380.66
16,380.66
4,368.11
327.61
4,695.72
$4,296,247.60
$140,460.86
$ -
$4,436,708.46
$
726,913.12
$ 87,320.59
$ - $
814,233.71
Buildings and equipment:
Pumphouses
$ 247,102.12
$ 247,102.12
$
53,496.59
$ 9,884.07
$
63,380.66
Wells
278,031.14
278,031.14
72,835.75
11,121.45
83,957.20
Pumps and piping
114,551.28
114,551.28
61,859.36
429.64
62,289.00
Tanks, towers and reservoir
566,867.16
566,867.16
199,077.35
22,678.18
221,755.53
Office equipment
3,285.96
$ 167.09
3,453.05
2,757.70
144.34
2,902.04
Miscellaneous equipment
11,918.74
11,918.74
5,749.02
1,057.50
6,806.52
Water treatment equipment
432,540.66
432,540.66
56,798.51
17,469.64
74,268.15
Automobiles and trucks
8,514.99
2,498.25
$2,522.83
8,490.41
6,543.87
1,014.84
$2,522.83
5,035.88
Storm sewer
57,318.69
573318.69
4,286.44.,
1,146.37
5,432.81
Tools
350.00
$1,720,480.74
$ 2,665.34
$2,522.83
350.00
$1,720,623.25
$
-
463,404.59.
$ 64,946.03
'$2,522.83 $
'
525,827.79
Construction in progress
-
39,842.60
39,842.60
TOTAL $6,057,595.73
$183,241.53
$2,522.83
$6,238,314.43
$1,194,145.73
$152,805.08
$2® $1,344,427.98
-69-
SEWER RENTAL FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1967
ASSETS
Current assets:
Cash - demand deposits.
Investments:
Federal Intermediate Credit Banks - at cost
Federal National Mortgage Association Certificates
Accrued interest
Receivables:
From customers
Assessments receivable
Prepaid insurance
Fixed assets - on the basis of cost:
Land improvements
Furniture and fixtures
Trucks
Equipment
Less allowance for depreciation
LIABILITIES AND SURPLUS
Current liabilities:
Trade accounts payable
Accrued payroll
Surplus invested in fixed assets
Unappropriated surplus (deficit)
$50,064.20
20,000.00
228.50
$24,829.66
378.06
TOTAL CURRENT ASSETS
$ 4,184.19
2,161.69
4,599.03
3 26,471.90
$37,416.81
25,603.98
TOTAL.CURRENT LIABILITIES
$ 5,971.31
70,292.70
25,207.72
24.00
$101,495.73
11,812.83
$113,308.56
$130,039.10
482.68
$130,521.78
11,812.83
( 29,026.05)
$113,308.56
=70-
SEWER RENTAL FUND
STATEMENT -OF SURPLUS (DEFICIT)
VILLAGE OF EDINA
Year Ended December 31, 1967
Balance (deficit) at January 1,-1967
Deduction:
Net loss for year
Transfers:
Surplus
Unappropriated Invested
Surplus in Fixed
(Deficit) Assets
($ 27,194.04) $13,196.77
3,215.95
($ 30,409.99) $13,196.77.
Provision for depreciation $ 2,391.12
Additions to fixed assets 1,007.18*
$ 1,383.94
Balance (deficit) at December 31, 1967 ($ 29,026.05)
* Indicates.red figure..
$ 2,391.12*
1,007.18
$ 1,383.94*
$11,812.83
-71-
SEWER RENTAL FUND
STATEMENT OF INCOME AND EXPENSE
VILLAGE OF ED INA
Year Ended.December 31 Increase
1967 1966 Decrease*
Operating income:
Service charges and penalties $133,515.00 $118,166.07 $15,348.93
Per Cent to
Operating Income
1967 1966
100.0%. 100.0%`.,.
Expenses:
Operating:
Sewer maintenance and
treatment
$ 75,116.00
$ 63,233.00
$11,883.00
Labor
30,169.00
26,682.00
3,487.00
Supplies
2,845.00
3,194.00
349.00*
Repairs
7,443.00
5,270.00
2,173.00
Water
200.00
200.00
-
Power
5,371.00
4,395.00
976.00
Provision for depreciation
1,630.12
2,092.13
462.01*
Other
543.88
479.87
64.01
$123,318.00
$105,546.00
$17,772.00
92.40% 89.3%
Vehicle operation:
Allocated from equipment
pool
$ 3,876.00
$ 3,240.00
$ 636.00
Provision for depreciation
605.00
432.00
173.00
$ 4,481.00
$ 3,672.00
$ 809.00
3.3 3.1
Administrative-..and . general:
Clerical and supervision
$ 5,923.00
$ 5,091.00
$ 832.00
Auditing
350.00
300.00
50.00
Supplies, telephone, postage
and retirement
5,169.00
4,980.00
189.00
Building rental
492.00
420.00
72.00
Provision for depreciation
156.00
154.00
2.00
Professional services
702.00
600.00
102.00
$ 12,792.00
$ 11,545.00
$ 1,247.00
9.6 9.8
TOTAL EXPENSES
$140,591.00
$120,763.00
$19,828.00
105.3% 102.2%
OPERATING LOSS
$ 7,076.00
$ 2,596.93
$ 4,479.07
5.3% 2.2%
Other income:
Income on investments
$ 2,199.00
$ 1,049.00
$ 1,150.00
Miscellaneous
1,661.05
250.92
1,410.13
$ 3,860.05
$ 1,299.92
$ 2,560.13
2.9 1.1
NET LOSS
.$ 3,215.95
$ 1,297.01
$ 1,918.94
2.4% 1.1 %.
Depreciation charges to opera-
tions included in expenses
$ 2,391.12
$ 231678.13
$ 287.01*
-72-
SEWER RENTAL FUND
ANALYSIS OF'CHANGE'IN.CASH BALANCE
VILLAGE 'OF EDINA
Year Ended December 31, 1967
Balance at January 1, 1967
Additions:
Collections on accounts receivable
Tax settlements received
Sale of investments
Income-on investments
Increase in liabilities:
Balance at December 31, 1967:
Trade accounts
Accrued payroll
Balance at January 1, 1967:
Trade accounts
Accrued payroll
Other
Deductions:,
.Expenses for the year
Less provision for depreciation
not requiring cash
Investments purchased
Purchase-of fixed assets
Other
$130,039.10
482.68
$130,521.78
$103,340.37
167.43 103,507.80
$ 7,102.29
$129,359.26
298.37
47,851.25
2,199.00
27,013.98
1,661.05 208,382.91
$215,485.20
$140,591.00
2,391.12 $138,199.88
70,292.70
1,007.18
14.13 209,513.89
Balance at December 31, 1967 $ 5,971.31
-73-
SEWER RENTAL FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December 31, 1967
-74-
Balance
Balance
January 1,
December 31,
1967
Additions
1967
ASSETS
Land improvements
$ 3,944.08
$ 240.11
$ 4,184.19
Furniture and fixtures
1,994.62
167.07
2,161.69
Trucks
4,599.03
4,599.03
Equipment
25,871.90
600.00
26,471.90
$36,409.63
$1,007.18
$37,416.81
ALLOWANCE FOR DEPRECIATION
Land improvements
$ 1,065.13
$ 162.56
$ 1,227.69
Furniture and fixtures
1,451.85
156.16
1,608.01
Trucks
2,394.73
605.40
3,000.13
Equipment
18,301.15
1,467.00
19,768.15
$23,212.86
$2,391.12
$25,603.98
NET BALANCE $13,196.77
$11,812.83
-74-
LIQUOR DISPENSARY FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1967
ASSETS
CURRENT ASSETS
Cash:
Demand deposit
Deposits in transit
Working funds
Investments - at cost:
Village of Edina — Waterworks Revenue
Bonds of 1959
Accrued interest
United States Treasury notes at cost
Accrued interest
Due from Golf Course Fund
Merchandise inventory - at cost (first -in,
first -out method):
Liquor
Wine
Beer
Mix and miscellaneous
Prepaid expenses:
Unexpired insurance
Supply inventory
LOAN TO GOLF COURSE FUND
FIXED ASSETS - at cost
Land
Land improvements
Building
Furniture, fixtures and equipment
Leasehold improvements
Less allowance for depreciation and
amortization
LIABILITIES AND SURPLUS
CURRENT LIABILITIES
Trade accounts payable
Salaries and wages
SURPLUS
Invested in fixed assets
Available
$ 37,781.98
33,928.75 $ 71,710.73
3,000.00 $ 74,710.73
$ 26,882.51
311.67 $ 27,194.18
$123,867.19
2,057.39 125,924.58 153,118.76
6,615.88
$242,263.73
36,100.90
11,030.17
2,244.11 291,638.91
$ 2,039.18
400.00 2,439.18
TOTAL CURRENT ASSETS $528,523.46
$ 16,500.00
$ 3,412.66
75,331.92
47,423.74
28.172.74
$154,341.06
250,000.00
102,859.59 51,481.47 67,981.47
$846,504.93
$ 32,880.33
3,190.30
TOTAL CURRENT LIABILITIES $ 36,070.63
$ 67,981.47
742,452.83 810,434.30
$846,504.93
-75-
LIQUOR DISPENSARY FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year Ended December 31, 1967
Balance at January 1, 1967
Additions:
Net income for year
Deductions:
Transfer to General Fund
Transfer to Park Fund
Transfer to Park Construction Fund
Total
$ 724,606.90
310,827.40
$1,035,434.30
$ 81,283.00
63,717.00
80,000.00
$ 225,000.00
$ 810,434.30
Transfers:
Provision for depreciation -
Additions to fixed assets -
Balance at December 31, 1967 $ 810;434.30
* Indicates red figure.
Available
$646,060.07
310,827.40
$956,887.47
$ 81,283.00
63,717.00
80,000.00
$225,000. 0
$731,887.47
10,881.54
316.18*
$742,452.83
Invested
in Fixed
Assets
$78,546.83
$78,546.83
Y
$78,546.83
.10,881.54*
316.18
$67;981.47
-76-
-77-
I
LIQUOR DISPENSARY FUND
STATEMENT OF INCOME AND
EXPENSE
VILLAGE OF EDINA
Years.-Ended
December
31
Per.Cent
to Net Sales
1 9
6 7-
1966
Increase
1.' 9 6
7
1966
50th' Street
' Southdale
Grandview
Total
Total
Decrease*
50th!Street
Southdale
Grandview
Total
Total
Sales:
Liquor
$562,613.00
$411,738.00
$307,557.00
$1,281,908.00
$1,230,187.00
$51,721.00
Wine
93,238.00
82,369.00
53,124.00
228,731.00
204,756.00
23,975.00
Beer
135,317.00
66,747.00
73,869.00
.275,933.00
271,203.00
4,730.00
Mix and miscellaneous
16,017.00.
7,983.00
12,451.00 j,
36,451.00
34,147.00
2,304.00
$807,185.00
$568,837.00
$447,001.00
$1,823,023.00
$1,740,293.00
$823-730.00
Less bottle refunds
3,593.00
1,554.00
2,299.00
7,446.00
7,658.00
212.00*
NET SALES
$803,592.00.
$567,283.00
$444,702.00
$1,815$77.00
$1,732,635.00
$82,942.00
100.00%
100.00 %,
100.00%
100.00%
100.00%
Cost of sales:
Inventory at January 1st
$106,932.86
$ 76,328.80
$ 94,194.33
$ 277,455.99
$ .297,123.00
$19,667.01*
Purchases
599,815.55
437,288.62
331,603.75
:1,368,707.92
.1;274,929.99
93,777.93
$706,748.41
$513,617.42
$425,798.08
$1,646,163:91
.$1$72,052.99
$74,110.92
Inventory at December 31st
106,090.41
92,508.42
93,040.08
291,638.91
277,455.99
14,182.92
$600,658.00
$421,109.00
$332,758.00:
$1,354,525.00
$1,294,597.00
$59,928.00
74.75
74.23
74.83
74.61
74.72
GROSS MARGIN
$202,934.00
$146,174.00
$111,944.00
$ 461,052.00
$ 438,038.00
$23,014.00
25.25%
25.77%
25.17%
25.39%
25.28%
Operating expenses:
Selling
$. 31,235.00.
$ 23,277.00
I
$ 21,941.00
$ 76,453.00
$ :72,477.00
$ 3,976.00
3.89%
4.10%
4.93 %:
4.21%
4.18%
Occupancy
12,340.00
20,126.00
19,949.00
52,415.00
55,188.00
2,773.00*
1.53
3.55
4.49
2.,.89...
3.19
Administrative
15,043.00
14,844.00
13,507.00
43,394.00
39,891.00
3,503.00
1.87
2.62
3.04
2..39.
2.30
TOTAL OPERATING EXPENSES
$ 58,618.00
$ 58,247.00
$ 55,397.00
$ .172,262.00
$ 167,556.00
$ 4,706.00
7.29 %1
10.27%
12.46%
9.49%
9.67%
OPERATING INCOME
$144$16.00
$ 87,927.00
$ 56$47.00
$. 288,790.00
$ 270,482.00
$18$08.00
17.96 %;
15.50%
12.71%
15.90%
15.61%
Other income:
.Cash discount
3,265.00
2,427.00
1,727.00
7,419.00
6,797.00
622.00
.41
.42
.39
.41
.39
Cash over or .(under)
118.00
( 19.00)
( 3.00) '.
96.00
165.00
69.00*
.01
.01
.01
Other
822.40
822.40
295.57
526.83
.10
.05
.02
$148,521.40
$ 90$35.00
$ 58,271.00
$ 297,127.40
$ 277,739.57
$19$87.83
18.480%
15.92%
13.10%
16.37%
16.03%
Income on investments
13,700.00
10,177.00
3,523.00
.
i
NET INCOME ,I
$ 310,827.40
$ 287,916.57
$22,910.83
.
Depreciation and amortization
I
included in expenses
$ 5,491.00
$ 2,148.00
$ 3,243.00
it
"I
$ 10,882..00
$ 10,945.99
$ 63.99*
-77-
Maintenance. - refrigeration equipment
Heat.
Laundry and rug service
Burglar alarm
Insurance
Share-of maintenance parking lot
and traffic directing
Repairs and maintenance
Provision for depreciation
Rubbish hauling
Janitorial services
Miscellaneous
Replacement - heating system
Administrative:
Salaries and wages
Supplies
Professional services
Allocated expenses - retirement,
insurance, office supplies, etc.
Miscellaneous
Increase - Decrease*
50th Street Southdale Grandview Total
$ 695.00 $1,049.00. $1,289.00. $3,033.00
100.00 67.00 121.00 288.00
28.00* 5.00 5.00 18.00*
97.00 74.00 2.00 173.00
500.00 500.00
$ 864.00 $1,695.00 $1,417.00 $3,976.00
$ 115.00 $ 115.00
$ 60.00* $ 55.00 5.00*
2.00 1.00 .3.00
71.00 69.00 33.00 .173.00
13.00 40.00* 15.00. 1.2.00*
513.00 40.00
LIQUOR DISPENSARY FUND
553.00
388.00
36.00
424.00
125.00
425.00
367.00
792.00
OPERATING EXPENSES
444.00
739.00
130.00
503.00 404.00
442.00
1,349.00
523.00
355.00 516.00
VILLAGE OF EDINA
20.00*
164.00,
96.00
260.00
179.00
96.00
- 275.00
15.00*
1,806.00 1,281.00
1,721.00
4,808.00
I
Year Endedl:
December 31
_5,044.00
180.00*
2,135.00 i
833.00
733.00
1 9
6 7
1 9
6 6
_50th: ..Street
Southdale
Grandview
Total
50th Street
Southdale
Grandview
Total:!
Selling:
Salaries and wages
-' $29,727.00
$21,327.00
$21,047.00
$ 72,101.00
$29,032.00
$20,278.00
.$19.,758.00
$ 69,068:06
Supplies
1,368.00
1,123.00
773.00
3,264.00
1,268.00
1,056.00
652.00
:2,976.00
Licenses and dues
-' 43.00
23.00
23.00
89.00
71.00
18.00
18.00
107.00
Pro -rata promotion
182.00
182.00
182.00
182.00
Service contracts
97.00
122.00
98.00
317.00
48.00
96.00
144.00.
Customer survey
500.00
500.00
-
�$31,235.00
$23,277.00
$21,941.00
$ 76,453.00
$30,371.00
"$21•,582.00
$20,524.00
$ 72,477.00
Occupancy:
Salaries and wages
$ 115.00
$ 115.00
$ -
Rent
$14,592.00
$10,651.00
25,243.00
$14,652.00
$10,596.00
25,248.00
Telephone
336.00
278.00
253.00
867.00
$ 336.00
276.00
252.00
864.00
Supplies
135.00
80.00
98.00
313.00
64.00
11.00
65.00
140.00
Light and power
1,671.00
1,020.00
1,429.00
4,120.00
1,658.00
1,060.00
1,414.00
4..,132.00
Maintenance. - refrigeration equipment
Heat.
Laundry and rug service
Burglar alarm
Insurance
Share-of maintenance parking lot
and traffic directing
Repairs and maintenance
Provision for depreciation
Rubbish hauling
Janitorial services
Miscellaneous
Replacement - heating system
Administrative:
Salaries and wages
Supplies
Professional services
Allocated expenses - retirement,
insurance, office supplies, etc.
Miscellaneous
Increase - Decrease*
50th Street Southdale Grandview Total
$ 695.00 $1,049.00. $1,289.00. $3,033.00
100.00 67.00 121.00 288.00
28.00* 5.00 5.00 18.00*
97.00 74.00 2.00 173.00
500.00 500.00
$ 864.00 $1,695.00 $1,417.00 $3,976.00
$ 115.00 $ 115.00
$ 60.00* $ 55.00 5.00*
2.00 1.00 .3.00
71.00 69.00 33.00 .173.00
13.00 40.00* 15.00. 1.2.00*
513.00 40.00
34.00
553.00
388.00
36.00
424.00
125.00
425.00
367.00
792.00
295.00
444.00
739.00
130.00
503.00 404.00
442.00
1,349.00
523.00
355.00 516.00
1,394.00
20.00*
164.00,
96.00
260.00
179.00
96.00
- 275.00
15.00*
1,806.00 1,281.00
1,721.00
4,808.00
1,986.00
.1;399.00 1,659.00
_5,044.00
180.00*
876.00 876.00 '
2,940.00 2,340.00 2,040.00 7,320.00
133.00 505.00 49.00 687.00
X15,043.00 $14,844.00 $13,507.00 $ 43,394.00
TOTAL $58,618.00 $58,247.00 $55,397.00 $172,262.00
597.00 597.00
216.01
34.00
214.00
248.00
5,491.00
21t148.00
3,243.00
10,882.00
420.00
240.00
300.00
960.00
690.00
75.00
230.00
920.00
71.00
9.00
29.00
109.00
$12,340.00
$20,126:00
$19,949.00
$:52,415.00
j
� $10,789.00
$10,920.00
$10,495.00
$ 32,204.00
349.00
347.00
352.00
1,048.00
832.00
732.00
571.00
2,135.00 i
2,940.00 2,340.00 2,040.00 7,320.00
133.00 505.00 49.00 687.00
X15,043.00 $14,844.00 $13,507.00 $ 43,394.00
TOTAL $58,618.00 $58,247.00 $55,397.00 $172,262.00
597.00 597.00
216.01
2,100.00
245.00
461.01
51497.99
2,205.00
3,243.00
10.,945.99
420.00
240.00
300.00
960.00
690.00•
75.00
40.00
730.00
75.00
12.00
35.00
122.00
3,112.00
$1,168.00
$1,164.00
3,112.00
$15,440.00
$20,246.00.
$19,502.00
$.55;188.00
$10,279.00
$10,413.00
$ :9,943'.00
$ 30,635.00
16.00
$3,028.00
$4,706.00
16.00
833.00
733.00
584.00
2,150.00
216.01 *'
6.99*
4.00*
3,112.00* _
$3,100.00* $
$ 510.00 $
333.00
1.00*
4.00
77.00*b
49.00 74.00*
118.00* 62.00,
,.279.00
34.00 31.00*
57.00*
190.00
3.00* 6.00*
120.00* $ 447.00
507.00 $ 552.00
347.00 352.00
1.00* 13.00*
.129.00
53.00
45.00*
15.00*
236.00*
279.00
213:01*
63.99*
,190.00
13.00*
3,112.00*
$2,773.00*
$1,569.00
1,032.00
15.00*
2,640.00
2,100.00
1,800.00
6,540.00
300.00
240.00
. 240.00
780.00
104.00
430.00
16.00
550.00
29.00
75.00
33.00
137.00
$13,872.00
$13;676.00
$12,343.00
$ 39.891.00
$1,171..00
$1,168.00
$1,164.00
$3,503.00
$59,683.00;.$55,504.00
$52,369.00
$167,556.00
$1,065.00*
$2,743.00
$3,028.00
$4,706.00
-78-
LIQUOR DISPENSARY FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1967
Balance at January 1, 1967
Additions:
Gross sales
Cash discounts
Interest received on investments
Payment received on accruals at December 31, 1966
Decrease in prepaid insurance
Other revenue
Increase in liabilities: .
Balance at December 31, 1967:
Trade accounts $ 32,880.33
Accrued payroll 3,190.30
$ 36,070.63
$1,823,023.00
7,419.00
7,141.00
6,542.00
1,234.07
918.03
Balance at January 1, 1967:
Trade accounts $20,428.37
Accrued payroll 3,057.35 23,485.72 12,584.91
Deductions:
.Merchandise purchased
Bottle refunds
Operating expenses
Less depreciation included therein not
requiring cash
Transfers:
General Fund
Park Fund
Park Construction Fund
Loan to Golf Course
Investments purchased
Additions to fixed assets
Payment made for another fund
$172,262.00
10,882.00
$ 81,283.00
63,717.00
80,000.00
$1,368,707.92
7,446.00
161,380.00
225,000.00
65,000.00
125,861.65
316.18
140.88
Balance at December'31, 1967
$ 166,701.35
1,858,862.01
$2,025,563.36
1,953,852.63
$ 71,710.73
-79-
J
LIQUOR DISPENSARY FUND
FIRED ASSETS
VILLAGE OF EDINA
Year Ended December. 31, 1967
Balance
Balance
January 1,
December 31,
1967
Additions.
1967
ASSETS
Land
$ 16,500.00
$ 16,500.00
Land improvements
3,412.66
3,412.66
Building
75,331.92
75,331.92
Furniture, fixtures and equipment
47,107.56
$ 316.18
47,423.74
Leasehold improvements
28,172.74
28,172.74
$170,524.88
$ 316.18
$170,841.06
ALLOWANCE FOR DEPRECIATION
AND AMORTIZATION
Land improvements
$ 1,422.83
$ 139.93
$ 1,562.76
Building
44,567.96
3,900.73
48,468.69
Furniture, fixtures and equipment
25,993.36
3,537.92
29,531.28
Leasehold improvements
19,993.90
3,302.96
23,296.86
$ 91,978.05
$10,881.54
$102,859.59
NET BALANCE $ 78,546.83
$ 67,981.47
Fund
General:
Current
Poor:
Current
Park:
Current
Swimming Pool:
Current
Golf Course:
Current
Recreation Center:
Current
Park Sinking:
For bonds and interest
Park Construction:
For construction
Improvement:
Current
For bond interest
For construction
Waterworks:
Current
Appropriated
Sewer Rental:
Current
Liquor Dispensary:
Current
Depository:
Demand deposits:
First Edina National Bank
First Southdale National Bank
Midland National Bank
Time deposits:
First Edina National Bank
Franklin National Bank
Working funds
* Indicates red figure.
CASH - ALL FUNDS
VILLAGE OF EDINA
December 31, 1967
Demand and
Time Working
Deposits Funds
$188,904.57 $ 550.00
14,225.61
30,538.95
5,430.58*
10,254.35 50.00
30,345.94 1,000.00
28,272.66
18,850.11
$146,746.09
66,280.20
428,710.15*
$215,683.86*
$ 4,797.10*
26,829.75
$ 22,032.65
5,971.31
71,710.73 3,000.00
TOTAL $199,992.44 $4,600.00
Total
$189,454.571
14,225.61
30,538.95
5,430.58*
10,304.35
31,345.94
28,272.66
18,850.11
215,683.86*
22,032.65
5,971.31
74,710.73
$204,592.44
$ 42,289.30
17,882:34
4,820.80
$ 64,992.44
$ 35,000.00
100,000.00
$135,000.00
4,600.00
$204,592.44
-81-
SECURITY FOR DEPOSITS
VILLAGE OF EDINA
December 31, 1967
First Edina National Bank- demand deposit
do certificate of deposit
Franklin National Bank.- certificate of deposit
Midland National Bank - demand deposit
First Southdale National Bank - demand deposit
TOTAL
TOTAL
TOTAL
TOTAL $ 17,882.34
$ 40,242.82
Securitv for Deposits
Principal
Deposits
i
;
1,
Book
Bank
$
42,289.30
$211,521.79
1970
35,000.00
35,000.00
$
77,289.30
$246,521.79 j
$100,000.00
$100,000.00
$1005,000.00
$100, 000.00 ,
$
4,820.80
$ 4,820.80
Federal Deposit Insurance;
1,
$ 4,820.80
$
4,820.80
$
17,882.34
$ 40,242.82
I
I
TOTAL $ 17,882.34
$ 40,242.82
Securitv for Deposits
Principal
'
August
1,
1972
Amount
Description
Due Date
1,
1970
5,000.00
$370,000.00
United.States Treasury bonds
November
15,
1973
32,000.00
United States Treasury notes
February ..15,
1970
1967`
15,000.00
Federal Deposit Insurance;
1,
1971
5,000.00
$417,000.00
January
1,
1970
20,000.00
$100,000.00
United States Treasury notes
February
15,
1968
15,000.00
Federal Deposit Insurance
1,
1976
10,000.00
$115,000.00
October
1,
1971
20,000.00
$ 25,000.00
I.S.D. #275 Golden Valley,
July
1,
1979
50,000.00
I.S.D,. #423 Hutchinson
March
1, .1980
15,000.00
50,000.00
I.S.D. #742 St. Cloud
February
1,
1980
15,000.00
Federal Deposit Insurance
$140,000.00
$ 20,000.00
Village of Edina Recreation Center Bonds
September
1,
1977
20,000.00
Village of Edina Recreation Center Bonds
September
1,
1980
20,000.00
Columbia Heights, Minnesota I.S..D. #13
February
11
1980
20,000.00
State of California School Bonds
September
1,
1978
20,000.00
Winona Special S/D 0, Minnesota
July
1,
1978
20,000.00
State-of Hawaii
October
15,
1977
20,000.00
St. Louis Park, Minnesota Refunding
December
1,
1975
20,000.00
Willmar,.Minnesota Refunding
August
1,
1975
20,000.00
Eugene, Oregon Bancroft Improvement
June.
1,
1975
20,000.00
White Bear Lake, Minnesota I.S.D. #624
April
1,
1975
10,000.00
Blue Island, Illinois.Comm. H.S.D. #218
December
1,
1973
5,000.00
Brainerd, Minnesota Imp.
February
1,
1972
5,000.00
Burnsville, Minnesota, I.S.D. #191
November
1,
1972
5,000.00
Dawson, Minnesota I.S.D. 0,373 School
$3153,000.00
-82-
Building
August
1,
1972
5,000.00
Edina, Minnesota Various Purpose
September
1,
1970
5,000.00
Edina, Minnesota Park System of 1957
March
1,.1972
5,000.00
Moorhead, Minnesota Impr.
February
1,
1970
5,000.00
Slayton, Minnesota I.S.D. #504
February
1,
1971
5,000.00
Worthington, Minnesota Sewage
January
1,
1970
20,000.00
Washington Motor Vehicle Fuel Tax
Revenue
September
1,
1976
10,000.00
New York, New York Various Purpose
October
1,
1971
20,000.00
Corpus Christi, Texas, Junior. College
District !
March
1,
1974
15,000.00
Federal Deposit Insurance;
$3153,000.00
-82-
INVESTMENTS
VILLAGE OF EDINA
December 31, 1967
Description
Maturity
Interest Rate
Face Amount
United States Treasury notes
August
15,
1968
4.25%
$ 500,000.00
do
February
15,
1970
4.00
150,000.00
do
November
152
1970
5.00
500,000.00
$1,150;000.00
Federal Intermediate Credit
Bank-Debentures
February
1,
1968
4.40%
$ 100,000.00
do
September
3,
1968
5.80
800,000.00
$ 900,000.00
Federal National- Mortgage
Association Participation
Certificates
February
11,
1970
6.35%
200,000.00
Federal Home Loan Bank
February
26,
1968
5.35
300,000,00
Federal Land Bank
July
20,
1976
5.38
200,000.00
Village of Edina,.Minnesota:
1955 Improvement Bonds
March
1,
1977
2.90%
$ 25,000.00
1957 Improvement Bonds
March
1,
1974
to 1979
3.90
31,000.00
1959 Improvement Bonds
June
1,
1968
to 1969
2.75 to 3.75
23,000.00
1960 Improvement Bonds
September
1,
1970
3.30
32,000.00
1962 Improvement Bonds
December
1,
1969
to. 1970
2.70
25,000.00
1966 Improvement Bonds
November
13
1970
to 1972
3.90
20,000.00
1957 Park Bonds
March
19
1968
to 1970
3.70
6,000.00
1962 Park Bonds
December
1,
1969
to 1970
2.70
20,000.00
1955 Waterworks Revenue Bonds
March
1,
1969
to 1970
2.50
17,000.00
1959 Waterworks Revenue Bonds
September
1,
1971
to 1974
3.40 to 3.50
27,000.00
$ 226,000.00
Land investments
5,599.25
TOTAL
$2,981$99.25
FUND OWNERSHIP
Face
Carrying
Amount
Amount
December 31,
December 31,
1967
1967
Improvement Funds.
$1,9.66,599.25
$1,966$99.25
General
350,000.00
350,000.00
Poor
12,000.00
123,000.00
Golf Course
50,000.00
50,174.00
Park Sinking
602000.00
60,000.00
Park Construction
16,000.00
16,000.00
Waterworks
275.,000.00
276,849.82
Sewer Rental
703P000.00
70,292.70
Liquor Dispensary
152,000.00
153,118.76'
Recreation Center
30,000.00
30,104.40
$2,981,599.25
$2,985,138.93
-83-
TAXABLE VALUATIONS, TAX LEVIES AND RATES
Taxable valuation:
Real estate
Personal property
Tax levies extended:
Extended in year
Collectible in year.
General
Parks
Bonds and interest
Poor and public nursing
Firemen's relief
Fire protection
Hennepin.County park
Tax rate by mills:
General
Parks
Bonds and 'interest
Poor and public nursing
Firemen's relief
Fire protection
Hennepin County park
VILLAGE OF EDINA
December 31
1967 1966
$42,060,772.00 $41,002,999.00
2,270,030.00 3,156,601.00
TOTAL $44,330,802.00 $44,159,600.00
TOTAL
TOTAL
1967
1968
$ 1,123,799.45
91,217.49
61,115.72
15,050.89
4,560.87
13,682.62
$ 1,309,427.04
24.64
2.00
1.34
.33
.10
.30
28.71
1966
1967
$ 1,096,482.86
86,994.41
62,706.63
15,014.26
4,415.96
13,247.88
4,415.96
$ 1,283,277.96
24.83
1.97
1.42
.34
..10
.30
.10
29.06
-84-
OFFICIAL BONDS
VILLAGE OF EDINA
December 31, 1967
Position
On file with Clerk- Treasurer:
Blanket position
Blanket position
Treasurer
Village Clerk
Deputy Assessor
Deputy Assessor
On file with County Auditor:
Assessor
Name
Bond
Expires
Amount
Surety
Police department employees
March
1,
1970
$ `5,000.00
i
Allied
Mutual
Insurance
Company
All Village employees not otherwise
required by law to be specifically
j
bonded j
March
1,
1970
$50,000.00
Allied
Mutual
Insurance
Company
J. N. Dalen
March
1,
1970
$50,000.00
Allied
Mutual
Insurance
Company
Florence B. Hallberg
March
1,
1970
$ 500.00
Allied
Mutual
Insurance
Company
i
Loukas M. Angelus +
March
1,
1970
$ 500.00
Allied
Mutual
Insurance
Company
Kent Swanson
March
1,
1970
$ 500.00
Allied
Mutual
Insurance
Company
Donald Kearns March 1, 1970 $ 500.00 ,.Allied Mutual Insurance Company
INSURANCE COVERAGE
VILLAGE OF. EDINA
December 31, 1967
Building and contents (A):
Village Hall
Library
Morningside municipal buildings
Village garage
Municipal liquor store 50th Street
Municipal liquor store - Southdale
Municipal.liquor store - Grandvvew
Municipal golf course club house
Municipal recreation center
Municipal swimming pool
Water reservoir
Pumping stations (location):.
Wooddale
Halifax
Southview Lane
Southdale
Concord
Brookview Heights
Hansen Road
76th Street
2nd Street
6500 Dewey Hill Road
Sherwood
Water tower - Concord Street
Water tower - 69th Street
Sanitary sewer lift station
Bathhouse
Maintenance building - golf course
Range building - golf course
Dwelling - Olinger Road
Inventories:
Liquor store - Southdale
Liquor store - 50th Street
Liquor store - Grandview
Automotive:
Bodily injury
Property damage
Comprehensive
Village liquor stores:
Comprehensive glass breakage
Liquor liability
Boiler - 50th Street
Business interruption - 50th Street
Business interruption - Southdale
Business interruption - Grandview
F ire
and
Extended
Coverage
Building
Contents
$456,500
$ 75,000
34,100
77,000
28,000
3,500
363,000
27,500
59,500
10,800
60,000
7,200
38,000
20,000
133,650
14,000
381,000
112,500
165,000
330,000
52,250
55,000
9,900
12,100
9,900
13,200
13,200
13,200
44,000
77,000
8,800
13,200
13,200
17,600
53,250
115,000
60,000
103,000
38,000
13,000
11,000
13,200
121,000
198,000
44,000
19,800
55,000
11,000
6,600
2,000
1,000
5,000
6,000
Other
$ 175,000(D)
200,000(D)
125,000(D)
$250 / 500,000
100,000
Actual cash value
Actual(.B)
1,000,000(B)
50,000
115,000
90,000
50,000
INSURANCE COVERAGE ( Cont'd)
Fire and
Extended Coverage
Building Contents Other
Village liquor stores (cont'd):
Burglary, robbery and theft - within premises
Burglary, robbery and theft - outside premises
Burglary, robbery and theft - merchandise
Village golf course:
Liquor liability.
Burglary, robbery and theft - within premises
Burglary, robbery and theft - outside premises
Burglary, robbery and theft — merchandise
Boiler
Recreation center:
Business interruption
Burglary, robbery and theft - within premises
Burglary, robbery and theft - outside premises
Boiler
Other insurance:
General-liability:
Automotive non - ownership, independent
contractor, and Village premises
operations:
Bodily injury
Property damage
Workmen's compensation
Edina Volunteer Fire Department group
accident policy, maximum each fireman
Property floater all risk - voting machines
Property floater.- equipment other than
automotive
.Excess liability - umbrella policy
Boiler
Library
Note A - 90% coinsurance.
Note B - 50th Street, Southdale and Grandview.
Note C - 40% coinsurance.
Note D - Reporting form.
Note E - Administration building, street department and library.
$ 5,000(B)
5,000(B)
7,500(B).
(C)
1,000,000
5,000
5,000
4,000(C)
50,000
80,000
2,500
2,500
50,000
$250/ 500,000
100,000
Statutory
3,000
97,440
Actual cosh value
2,000,000
50,000(E)
(F)
Note F.- Fire and extended coverage on 50th Street library during construction - $405,000
premise.; $10,000 other locations and $10,000 in transit.
-87-
Village Council:
Mayor: .
Arthur C. Bredesen, Jr.
Trustees:
James Van Va.lkenburg
Hugh J. MacMillan
Richard C. Johnson
C.,Wayne Courtney
Willis F. Shaw
Village Manager:
Warren C. Hyde
Village Attorney:
William A. Whitlock
Clerk:
Florence Hallberg
Treasurer and Finance Director:
J. N. Dalen
Assessor:
Donald Kearns
Prosecuting Attorney:
Walter Gustafson
Director of Public Works and
Assistant Manager:
George C. Hite
ORGANIZATION
VILLAGE OF EDINA
December 31, 1967
1969
1967
1968
1969
1970
Appointed by Council
1967
1968
Elected,
Term
Re- elected or
Expires
Re- appointed to
December 31
December 31
1967
1969
1969
1967
1968
1969
1970
Appointed by Council
1967
1968