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Home My WebLink About1982 Financial StatementsMain Iurdman CITY OF EDINA, MINNESOTA FINANCIAL STATEMENTS WITH ACCOMPANYING INFORMATION YEAR ENDED DECEMBER 31, 1982 and REPORT OF CERTIFIED PUBLIC ACCOUNTANTS CITY OF EDINA, MINNESOTA FINANCIAL STATEMENTS WITH ACCOMPANYING INFORMATION YEAR ENDED DECEMBER 31, 1982 and REPORT OF CERTIFIED PUBLIC ACCOUNTANTS CITY OF EDINA, MINNESOTA ELECTED AND APPOINTED OFFICIALS DECEMBER 31, 1982 Term of office expires January* Elected: Mayor - C. Wayne Courtney 1985 Council: A. Charles Bredesen III 1983 Frederick S. Richards 1983 June A. Schmidt 1985 Leslie C. Turner 1985 Appointed: Manager - Kenneth E. Rosland Treasurer and Finance Director - J. N. Dalen Clerk - Florence Hallberg * First official business day CITY OF EDINA, MINNESOTA FINANCIAL STATEMENTS WITH ACCOMPANYING INFORMATION Year Ended December 31, 1982 TABLE OF CONTENTS SECTION I INTRODUCTORY SECTION Page Comments I SECTION II FINANCIAL SECTION Accountants' report on financial statements and accompanying information 1 General purpose financial statements: Combined balance sheet - all fund types and account groups 2 Combined statement of revenues, expenditures and fund balance - all governmental fund types 6 Combined statement of revenues, expenditures and fund balance - budget and actual - general and special revenue fund types 10 Combined statement of revenues, expenses and retained earnings - all proprietary fund types 12 Combined statement of changes in financial position - all proprietary fund types 14 Notes to financial statements 15 Individual fund financial statements: General Fund: Comparative balance sheet 31 Statement of revenues, expenditures and fund balance 32 Statement of revenues 33 Statement of expenditures 35 Schedule of central services expenditures 42 Special revenue funds: Combining balance sheet 43 Combining statement of revenues, expenditures and fund balance 44 Statements of revenues, expenditures and fund balance: Revenue Sharing Fund 45 Nursing Services Fund 45 Park Fund 46 CITY OF EDINA, MINNESOTA FINANCIAL STATEMENTS WITH ACCOMPANYING INFORMATION Year Ended December 31, 1982 TABLE OF CONTENTS (Continued) Page Individual fund financial statements: (continued) Debt service funds: Combining balance sheet 48 Combining statement of revenues, expenditures and fund balance 49 Special assessment funds: Combining balance sheet 50 Combining statement of revenues, expenditures and fund balance 52 Proprietary Fund Type - enterprise funds: Combining balance sheet 54 Combining statement of revenues, expenses and retained earnings 58 Combining statement of changes in financial position 60 Schedule of property and equipment 62 Water Fund: Comparative balance sheet 66 Comparative statement of revenues, expenses and retained earnings 67 Comparative statement of changes in financial position 68 Sewer Fund: Comparative balance sheet 69 Comparative statement of revenues, expenses and retained earnings 70 Comparative statement of changes in financial position 71 Liquor Fund: Comparative balance sheet 72 Comparative statement of revenues, expenses and retained earnings 73 Comparative statement of changes in financial position 75 Comparative schedule of operating expenses 76 Swimming Pool Fund: Comparative balance sheet 77 Comparative statement of revenues, expenses and retained earnings 78 Comparative statement of changes in financial position 79 Golf Course Fund: Comparative balance sheet 80 Comparative statement of revenues, expenses and retained earnings 81 Comparative statement of changes in financial position 82 Comparative schedule of operating expenses 83 CITY OF EDINA, MINNESOTA FINANCIAL STATEMENTS WITH ACCOMPANYING INFORMATION Year Ended December 31, 1982 TABLE OF CONTENTS (Continued) SECTION III STATISTICAL SECTION Schedule of cash, investments and security for deposits 95 Combined schedule of indebtedness 96 Schedule of changes in bonded indebtedness 98 Bonds payable 98 Debt service requirements 100 Tax levies and collections 101 Special assessment levies and collections 101 Assessed valuation, tax levies and mill rates 102 Page Individual fund financial statements: (continued) Recreation Center Fund: Comparative balance sheet 84 Comparative statement of revenues, expenses and retained earnings 85 Comparative statement of changes in financial position 86 Gun Range Fund: Comparative balance sheet 87 Comparative statement of revenues, expenses and retained earnings 88 Comparative statement of changes in financial position 89 Art Center Fund: Comparative balance sheet 90 Comparative statement of revenues, expenses and retained earnings 91 Comparative statement of changes in financial position 92 Comparative statement of general fixed assets 93 Comparative statement of general long -term debt 94 SECTION III STATISTICAL SECTION Schedule of cash, investments and security for deposits 95 Combined schedule of indebtedness 96 Schedule of changes in bonded indebtedness 98 Bonds payable 98 Debt service requirements 100 Tax levies and collections 101 Special assessment levies and collections 101 Assessed valuation, tax levies and mill rates 102 SECTION I INTRODUCTORY SECTION COMMENTS The City of Edina operates under State of Minnesota Statutes. council- manager plan. Under thi s "The council shall exercise the determine all matters of policy. the administrative branch of responsible to the council for th relating to the city." The Co including the mayor, who is chair the Council. General Fund "Optional Plan B" as defined in the Optional Plan B is known as the plan, as specified in the Statutes, legislative power of the city and The city manager shall be the head of the city government and shall be e proper administration of all affairs uncil is composed of five members, man. The city manager is appointed by The General Fund was established to account for the revenues and expenditures necessary to provide basic governmental services to the City such as general government, public safety and public works. A plan of financial operation of the fund is set forth in the annual budget adopted by Council. The General Fund statements are prepared to show the budget estimates and actual amounts. A condensed summary of operations is shown below: Revenues and other sources: General property taxes Licenses and permits Intergovernmental revenue Fines and forfeitures Charges for services Other revenues Transfers from other funds Reserved surplus Total revenues Expenditures and other uses: General government Public safety Public works Unallocated general expenditures Central services 1982 1981 Budget Actual Budget Actual $3,512,037 296,500 1,866,670 250,000 322,400 109,900 593,580 $3,463,682 337,208 1,809,679 281,825 296,898 255,464 439,393 $3,098,870 198,600 2,057,364 246,800 300,300 64,500 295,000 481,500 $3,056,144 335,480 2,095,442 256,447 328,346 113,689 295,000 $6,951.087 $6,884,149 $6.742.934 $6.480.548 $ 989,955 $1,003,928 $ 843,534 $ 842,863 3,601,329 3,513,056 3,320,593 3,260,927 2,136,020 2,073,000 2,294,406 2,117,412 207,583 183,967 247,901 245,610 16,200 79,529 36,500 139,622 Total expenditures $6.951.087 $6.853.480 $64742,934 $6.606.434 During 1982, the fund balance increased $30.,669 to $1,200,956 at December 31, 1982. $707,705 of the fund balance has been reserved for various reasons as explained in the Notes to Financial Statements, leaving an unreserved fund balance of $493,251. -I- Special Revenue Funds Special revenue funds are established to account for taxes and other revenues set aside for a particular purpose. Following is a brief description of each fund. Revenue Sharing Fund - The Revenue Sharing Fund was established to account for revenue received from the Federal Government in accordance with the "State and Local Fiscal Assistance Act of 1972 ". Expenditures can only be made from this fund as outlined in the Act. The City's share of revenues for 1982 was $180,856 During 1982, transfers of $225,000 were made to the General Fund, leaving a fund balance of $328,635 at December 31, 1982. Nursing Services Fund - This fund was established to account for money used for health and nursing services. Beginning in 1978, the activities of the Fund were accounted for in the General Fund. This fund was closed in 1982. Park Fund - The Park Fund was established to account for the administration, maintenance and improvement of City parks. Expenditures exceeded revenue by $78,471 during 1982, leaving a fund balance of $(19,032) at December 31, 1982. Debt Service Funds The debt service funds are used to account for the accumulation of resources and for payment of general obligation bonds or other general indebtedness and interest thereon. General property taxes are being collected to provide the necessary funds. Park Bond Fund - The Park Bond Fund was established to account for debt retirement of park construction bonds. Included in the fund at December 31, 1982 is $95,007 of bond proceeds for park improvements. The bond proceeds will be transferred to the Park Fund as needed to pay improvement costs. All park bond issues were retired as of December 31, 1982. Redevelopment Bond Fund - The Redevelopment Bond Fund was established to account for debt retirement of the 1975 and 1981 Redevelopment Bonds. Special Assessment Funds Special assessment funds are established to account for assessments levied to finance improvement or services deemed to benefit the properties against which the assessments are levied. Primarily, the transactions accounted for in special assessment construction funds are receipt of bond proceeds and disbursement of bond proceeds for construction work done. Special assessment debt service funds are used primarily to account for collection of assessments against benefited property owners and disbursement of assessment collections for the payment of bonds and interest. -II- Enterprise Funds Enterprise funds are established to account for the self supporting activities of the City which render services to the general public on a user charge basis. Water Fund - The Water Fund accounts for the operations of the City -owned water system. Shown below is a condensed summary of operations for the last three years: Operating revenues Operating expenses Operating income (loss) Other revenues Net income (loss) 1982 1981 1980 $1,004,718 $921,260 $778,195 1,026,006 869,991 853,464 (21,288) 51,269 (75,269) 30,317 33,869 28,448 $ 9,029 85,138 Sewer Fund - The Sewer Fund accounts for the operations of the sewer collection system. Shown below is a condensed summary of operations for the last three years: Operating revenues Operating expenses Operating loss Other revenues - net 1982 1981 1980 $2,030,276 $1,712,360 $1,388,669 2,364,510 1,862,828 1,688,256 (334,234) (150,468) (299,587) 203,420 16,716 91,202 Net loss $ (130.814)$ 1133.7524 (208.385) -III- Enterprise Funds (Continued) Liquor Fund - The Liquor Fund accounts for the operations of the City -owned liquor operations. Shown below is a condensed summary of operations for the last three years. 1982 1981 1980 Percent Percent Percent Amount of sales Amount of sales Amount of sales 50th Street: Sales $1,243,337 100.00% $1,302,088 100.00% $1,200,309 100.00% Cost of goods sold 1,020,644 82.09 1,100,507 84.52 1,000,487 83.36 Gross profit 222,693 17.91 201,581 15.48 199,822 16.64 Operating expenses 178,663 14.37 166,698 12.80 153,924 12.83 Operating income $ 44,030 3,54 34,883 2 $ 45.898 3.81$ Grandview: Sales Yorkdale: Sales $2,416,252 100.008 $2,616,193 100.00 $2,510,132 100.00$ Cost of goods sold 2,061,668 85.33 2,187,151 83.60 2,092,917 83.38 Gross profit 335,410 Gross profit 354,584 14.67 429,042 16.40 417,215 16.62 Operating expenses 275,362 11.39 255,393 9.76 228,126 9.09 Operating income $ 79,222 3,28_ $ 173,649 6,6 $4 $ 189,089 7.53% Grandview: Sales $2,018,515 100.00% $2,155,251 100.00% $2,081,391 100.00% Cost of goods sold 11683,105 83.38 11853,221 85.99 1,774,629 85.27 Gross profit 335,410 16.62 302,030 14.01 306,762 14.73 Operating expenses 220,423 10.92 217,178 10.08 188,805 9.08 Operating income $ 114,987 5170 84.852 X93 $ 117,957 5.65% During 1982, net income for all stores was $326,036. Transfers to other funds during the year were $450,000 or 138.028 of net income. The $450,000 transfer was the equivalent of an .84 mill tax levy. -IV- Enterprise Funds (Continued) Swimming Pool Fund - The Swimming Pool Fund accounts for the operations of the City -owned swimming pool. Shown below is a condensed summary of operations for the last three years: 1982 1981 1980 Operating revenues $ 72,377 $ 62,412 $ 59,109 Operating expenses 88,140 86,483 77,279 Net loss 15 763) $ (2) 18 0) Golf Course Fund - The Golf Course Fund accounts for the operations of the City -owned golf course. During 1963, revenue bonds in the amount of $825,000 were sold. Revenues of this fund are pledged for payment of principal and interest on these bonds, $250,000 of which remain outstanding at December 31, 1982. Shown below is a condensed summary of operations for the last three years: Operating revenues Operating expenses Operating income Other expenses Net income 1982 1981 1980 $613,949 $567,017 $490,952 487,173 450,448 400,753 126,776 116,569 90,199 18,774 24,147 25,765 $108,002 $$ 92,422 $ 64,434 Recreation Center Fund - The Recreation Center fund accounts for the operations of the City -owned recreation center. During 1965, 1969 and 1978, revenue bonds in the amounts of $450,000, $100,000 and $370,000, respectively, were sold, $190,000 of which remain outstanding at December 31, 1982. Revenues of this fund are pledged for payment of principal and interest on these bonds. Shown below is a condensed summary of operations for the last three years: Operating revenues Operating expenses Operating loss Other revenues (expenses) Net loss -V- 1982 1981 1980 $291,827 $269,386 $ 234,979 300,060 345,707 340,404 (8,233) (76,321) (105,425) (5,503) 2,241 (7,010) $(74.080) $(112,435) Enterprise Funds (Continued) Gun Range Fund - The Gun Range Fund accounts for the operations of the City -owned gun range. Shown below is a condensed summary of operations for the last three years: 1982 1981 1980 Operating revenues $19,261 $24,467 $18,025 Operating expenses 28,846 26,531 17,753 Net income (loss) 9 85) (2,064) 2 2 Art Center Fund - The Art Center Fund accounts for the operations of the City -owned art center which was established during 1977. Shown below is a condensed summary of operations for the last three years: Operating revenues Operating expenses Operating loss Other revenues Net loss General Fixed Assets 1982 1981 1980 $ 54,113 $ 55,298 $ 50,677 91,418 73,283 67,579 (37,305) (17,985) (16,902) 25,121 10,486 4,076 12 184) 7 4 ) $(12,826) This group of accounts is used to accumulate property and equipment which are of a general benefit to the City. The fixed assets acquired are recorded as expenditures in funds, other than the proprietary funds, at the time of purchase. Such assets are capitalized at cost in this group of accounts. No depreciation has been provided on the General Fixed Assets. General Long -term Debt Group of Accounts This group of accounts is used to account for the general obligation bonds which are to be paid by general revenues. The debt reflected in this account is an obligation of the city as a whole and not of any of the City's individual funds. -VI- SECTION II FINANCIAL SECTION Mai urdman Certified Public Accountants 1200 TCF Tower, 121 South 8th Street • Minneapolis, MN 55402 • Telephone: 612/338 -8821 The City Council Edina, Minnesota We have examined the combined financial statements of the various funds and account groups of the City of Edina, Minnesota as of and for the year ended December 31, 1982, as shown on pages 2 through 30. 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. As explained in Note 2, the financial statements do not include depreciation on certain property and equipment of the proprietary fund types and depreciation expense has not been included as an operating expense which is not in accordance with generally accepted accounting principles. The amount by which the financial statements would change if these items were included has not been determined. In our opinion, except for the effects of not recording depreciation as discussed in the preceding paragraph, the combined financial statements referred to above present fairly the financial position of the City of Edina, Minnesota at December 31, 1982, and the results of its operations and the changes in financial position of its proprietary fund types for the year then ended, in conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding year. Our examination was made for the purpose of forming an opinion on the combined financial statements taken as a whole. The combining, individual fund, and account group financial statements and schedules shown on pages 31 though 94 are presented for purposes of additional analysis and are not a required part of the combined financial statements of the City of Edina, Minnesota. The information has been subjected to the auditing procedures applied in the examination of the combined financial statements. In our opinion, except for the effects of not recording depreciation in the proprietary fund types, it is fairly stated in all material respects in relation to the combined financial statements taken as a whole. August 9, 1983 KMG Klynveld Main Goerdeler- International firm dip;,. # . CITY OF EDINA, MINNESOTA COMBINED BALANCE SHEET ALL FUND TYPES AND ACCOUNT GROUPS December 31, 1982 ASSETS Cash Investments Taxes receivable: Unremitted Delinquent Allowance for uncollectible taxes Accounts receivable Special assessments receivable: Unremitted Delinquent Deferred Allowance for uncollectible special assessments Due from other funds Due from other governmental units Other receivable - MWCC Note receivable Contracts receivable Inventory Prepaid expense Construction in progress Unassessed construction costs Property and equipment less accumulated depreciation General fixed assets Amount available in debt service funds Total assets Governmental Fund Types Special Debt General Revenue Service — $ 222,833 $ 258,685 $ 402,607 25,495 42,556 5,053 481 94,171 891 (94,171) (891) 74,416 759,179 307,468 11,960 634,997 47,817 6,583,550 28,637 184,495 10,000 61.798,113 $ 803,518 $6,998.598 (Continued) -2- 1,615 15,705 166,311 7,892,270 (547,661) 565,130 2,513,001 573,815 586,653 1,537 1,062,186 196,851 481,305 53,213 788,747 14,078 Total (Memorandum only) 1982 1981 $ 1,528,281 $ 2,406,122 1,305,401 509,218 48,090 Proprietary 95,062 73,361 (95,062) Fund Type Account groups 53,213 58,536 General General Special 951,811 fixed long -term Assessment Enterprise assets Debt $ 606,019 $ 38,137 1,267,178 12,728 1,615 15,705 166,311 7,892,270 (547,661) 565,130 2,513,001 573,815 586,653 1,537 1,062,186 196,851 481,305 53,213 788,747 14,078 Total (Memorandum only) 1982 1981 $ 1,528,281 $ 2,406,122 1,305,401 509,218 48,090 40,957 95,062 73,361 (95,062) (73,361) 662,684 705,386 15,705 25,521 167,848 66,678 7,892,270 7,623,048 (547,661) (435,966) 2,705,923 4,386,762 7,463,215 7,913,359 481,305 521,466 53,213 58,536 213,132 26,650 798,747 951,811 14,078 15,434 2,513,001 2,696,253 573,815 733,336 19,039,853 19,039,853 19,250,911 $11,605,890 11,605,890 11,024,306 $6,400,000 6,400,000 6,500,000 $13,053.383 $22,275.288 $11.605.890 $644004000 $62,934.790 $65,019.788 -3- CITY OF EDINA, MINNESOTA COMBINED BALANCE SHEET ALL FUND TYPES AND ACCOUNT GROUPS (Continued) December 31, 1982 LIABILITIES AND FUND EQUITY Liabilities: Accounts payable Contracts payable Due to other funds Due to other governmental units Accrued expenses Deposits Deferred revenue Bonds payable Total liabilities Fund equity: Invested in fixed assets Retained earnings Fund balance: Reserved or designated Unreserved - Undesignated Total fund equity Total liabilities and fund equity Governmental Fund Types General Special Revenue $ 126,905 $ 31,510 249,204 257,950 52,560 6,430 48,320 5,087 120,168 8,443 184,495 597,157 493,915 Debt Service 707,705 526,732 $6,678,557 493,251 (217,129) 320,041 1,200,956 309,603 6,998,598 $1.798.113 $ 803.518 $6.998.598 The accompanying notes are an integral part of these financial statements. -4- Special Assessment $ 1,104 45,552 621,117 59,481 110,805 1,026,043 233,008 5,900,000 Proprietary Fund Type Account groups General General fixed long -term Enterprise assets Debt $ 187,358 1,577,652 180,560 15,728 7,842 481,305 440,000 7,997,110 2,890,445 17,637,154 $11,605,890 1,747,689 40,731 5,015,542 5,056,273 19,384,843 11,605,890 $6,400,000 Total (Memorandum only) 1982 1981 $ 346,877 $ 459,557 45,552 619,561 2,705,923 4,386,762 299,031 201,051 179,940 154,2,76 1,162,496 654,512 898,808 746,717 12,740,000 13,785,000 6,400,000 18,378,627 21,007,436 29,243,044 28,675,217 1,747,689 1,757,423 7,953,725 8,379,777 5,611,705 5,199,935 44,556,163 44,012,352 $13,053,383 $22.275,288 $11,605,890 $6,400,000 $62.934,790 $65,019,788 -5- CITY OF EDINA, MINNESOTA COMBINED STATEMENT OF REVENUES, EXPENDITURES AND FUND BALANCE ALL GOVERNMENTAL FUND TYPES Year Ended December 31, 1982 Revenues: Taxes Licenses and permits Inter - governmental revenues: Federal State County Charges for services Fines and forfeitures Other Interest on investments Sale and rental of property Interest on special assessments Interest on bonds issued Parkland dedication Reimbursement from other funds Total revenues Other sources: Transfers from other funds Assessment adjustments Capitalized interest Bonds issued Total revenues and other sources (Continued) -6- General $3,463,682 337,208 2,952 1,728,322 78,405 296,898 281,825 114,347 124,413 16,704 6,444,756 439,393 6,884,149 Special Debt Special Revenue Service Assessment $ 506,925 $ 10.013 180,856 355,747 110,640 256,447 34,108 173,672 112,965 580,145 25,343 11,961 $ 114,703 546,816 84,240 1,749,493 1,055,077 593,119 2,411,012 Total (Memorandum only) 1982 1981 $ 3,971,620 $ 3,516,712 337,208 335,480 183,808 223,219 1,838,962 2,098,418 78,405 104,986 331,006 355,747 281,825 256,447 807,457 173,672 276,420 271,722 16,704 21,252 546,816 471,694 28,817 84,240 80,500 1,749,493 1,794,187 10,503,964 9,732,853 272,500 711,893 625,000 17,734 17,734 125,307 225,646 225,646 47,805 4,500,000 1,327,577 593,119 2,654,392 11,459,237 15,030,965 -7- CITY OF EDINA, MINNESOTA COMBINED STATEMENT OF REVENUES, EXPENDITURES AND FUND BALANCE ALL GOVERNMENTAL FUND TYPES (Continued) Year Ended December 31, 1982 Expenditures: Current: General government Public safety Public works Unallocated general expenditures Other Parks Capital outlay Debt service: Bond principal Interest, service charges and discount Construction costs Total expenditures Other uses: Transfers to other funds Assessment and tax adjustments Total expenditures and other uses Net increase (decrease) in fund balance Fund balance January 1 Fund balance December 31 The accompanying notes are an integral part of these financial statements. -8- General $1,003,928 3,513,056 2,073,000 263,496 6,853,480 6,853,480 30,669 1,170,287 $1.200.956 Special Revenue $ 826,282 383,150 1,209,432 261,893 1,471,325 (143,748) 453,351 Debt Service $ 100,000 580,145 680,145 68#656 748,801 (155,682) 7,154,280 Special Assessment $ 5,805 515,300 1,749,379 2,270,484 129,429 2,399,913 254,479 4,801,794 $ 3098603 $6.998,598 $5.056.273 -9- Total (Memorandum only) 1982 1981 $ 1,003,928 $ 842,863 3,513,056 3,260,927 21073,000 2,117,412 263,496 385,232 5,805 5,942 826,282 785,141 383,150 258,574 100,000 100,000 1,095,445 666,905 1,749,379 1,794,187 11,013,541 10,217,183 330,549 225,000 129,429 27,247 11,473,519 10,469,430 (14,282) 4,561,535 13,579,712 9,018,177 $13.565.430 613.579.712 CITY OF EDINA, MINNESOTA COMBINED STATEMENT OF REVENUES, EXPENDITURES AND FUND BALANCE - BUDGET AND ACTUAL - GENERAL AND SPECIAL REVENUE FUND TYPES Year Ended December 31, 1982 Revenues: Taxes Licenses and permits Inter - governmental revenues: Federal State County Charges for services Fines and forfeitures Other Interest on investments Sales and rental of property Parkland dedication Total revenues Other sources: Transfers from other funds Appropriated from prior year's fund balance to finance 1982 budget Total revenues and other sources Expenditures: General government Public safety Public works Unallocated general expenditures Parks: Current expense Capital outlay Total expenditures Other use: Transfers to other funds Total expenditures General Budget Actual $3,512,037 $3,463,682 296,500 337,208 11,500 2,952 1,768,765 1,728,322 86,405 78,405 322,400 296,898 250,000 281,825 63,900 114,347 38,000 124,413 8,000 16,704 6,357,507 6,444,756 437,263 439,393 156,317 6,951,087 6,884,149 989,955 3,601,329 2,136,020 223,783 1,003,928 3,513,056 2,073,000 263,496 6,951,087 6,853,480 6,951,087 6,853,480 Net increase (decrease) in fund balance & -0- Fund balance January 1 Fund balance December 31 The accompanying notes are an integral part of these financial statements. -10- 30,669 1,170,287 $1.200.956 Special Revenue Budget Actual $ 634,175 $ 506,925 225,000 180,856 110,640 34,000 34,108 38,998 112,965 4,000 25,343 90,000 84,240 1,026,173 1,055,077 272,500 272,500 1,298,673 1,327,577 796,175 826,282 277,498 383,150 1,073,673 1,209,432 225,000 261,893 1,298,673 1,471,325 $ -0- (143,748) 453,351 $ 309.603 Total (Memorandum only) Budget Actual $4,146,212 $3,970,607 296,500 337,208 236,500 183,808 1,768,765 1,838,962 86,405 78,405 356,400 331,006 250,000 281,825 102,898 227,312 42,000 149,756 8,000 16,704 90,000 84,240 7,383,680 7,499,833 709,763 711,893 156,317 8,249,760 8,211,726 989,955 1,003,928 3,601,329 3,513,056 2,136,020 2,073,000 223,783 263,496 796,175 826,282 277,498 383,150 8,024,760 8,062,912 225,000 261,893 8,249,760 8,324,805 $ -0- (113,079) -11- 1,623,638 $1.510.559 CITY OF EDINA, MINNESOTA COMBINED STATEMENT OF REVENUES, EXPENSES AND RETAINED EARNINGS - ALL PROPRIETARY FUND TYPES Years Ended December 31, 1982 and 1981 Sales and cost of sales: Sales Cost of sales Gross profit Operating revenues: Charges for services Total gross profit and operating revenues Operating expenses Operating income (loss) Other revenues: Interest Discounts Prior year's disposal charges Current value credit - MWCC Rental income Deferred charges Donations Grant Other Total other revenues Other expenses: Interest and paying agent fees Prior year's disposal charges Other Total other expenses Net income (Continued) -12- Enterprise funds 1982 1981 $ 5,678,104 $ 6,073,532 4,765,417 5,140,879 912,687 932,653 4,086,521 3,612,200 4,999,208 4,544,853 5,060,601 4,354,540 (61, 393) 33,796 83,474 40,504 61,020 5,174 7,680 22,530 89,042 3.655 346,875 24,277 220 24,497 260,985 190,313 46,109 81,836 61,020 4,378 6,938 8,503 11,515 220,299 29,906 58,871 149 88,926 321,686 CITY OF EDINA, MINNESOTA COMBINED STATEMENT OF REVENUES, EXPENSES AND RETAINED EARNINGS - ALL PROPRIETARY FUND TYPES (Continued) Years Ended December 31, 1982 and 1981 Transfers to other funds Property and equipment contributed by special assessments Disposal of non - depreciated equipment Net decrease in retained earnings Retained earnings January 1 Retained earnings December 31 Enterprise funds 1982 1981 $ (450,000) $ (400,000) 165,524 147,484 (229,175) (23,491) (160,005) 19,408,334 19,568,339 $19.384.843 $19.408.334 The accompanying notes are an integral part of these financial statements. -13- CITY OF EDINA, MINNESOTA COMBINED STATEMENT OF CHANGES IN FINANCIAL POSITION - ALL PROPRIETARY FUND TYPES Years Ended December 31, 1982 and 1981 Enterprise funds 1982 1981 Sources of working capital: Operations: Net income $ 260,985 $ 321,686 Item not requiring working capital: Depreciation 468,379 460,538 Total from operations Contributions in aid to construction Disposal of property and equipment Reduction of loan to other funds Increase in deposits Reduction in notes receivable Total sources of working capital Uses of working capital: Additions to property and equipment Decrease in deposits Reduction of long -term debt Transfers to other funds Reduction of contributions in aid to construction Total uses of working capital Net increase (decrease) in working capital Elements of increase (decrease) in working capital: Cash Investments Receivables Due from other funds Due from other governmental units Inventory Prepaid expenses Accounts payable Due to other funds Due to other governmental units Accrued liabilities Bonds payable Net increase (decrease) in working capital 729,364 782,224 165,524 147,484 229,586 35.,187 3,451 1,857 4,973 4,974 938,499 1,166,125 257,321 441,484 110,000 145,000 450,000 400,000 229,175 817,321 1,215,659 $ 121.178 $ (49.534) $ 321,808 $ 368,951 (163,319) 37,646 37,379 (170,446) 190,598 160,050 10,669 (153,064) 66,649 (1,356) (111,843) 21,961 (33,081) (41,211) (384,676) (83,810) (63,351) (5,400) 32,490 35,000 $ 121.178 $ (12, 534) The accompanying notes are an integral part of these financial statements. -14- CITY OF EDINA, MINNESOTA NOTES TO FINANCIAL STATEMENTS 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The City of Edina operates under the "Optional Plan B" form of government according to applicable State of Minnesota Statutes. The Statutes prescribe a Council- manager form of organization. The City provides the following services: public safety, highways and streets, sanitation, health and social services, culture- recreation, public improvements, planning and zoning, and general administration. The accounting policies of the City conform to generally accepted accounting principles as applicable to governments, except that depreciation on certain proprietary fund type property and equipment is not recorded (Note 2) . The following is a summary of the more significant policies: A. Fund Accounting The accounts of the City are organized on the basis of funds and account groups, each of which is considered a separate accounting entity. The operations of each fund are accounted for with a separate set of self - balancing accounts that comprise its assets, liabilities, fund equity, revenues, and expenditures, or expenses, as appropriate. Government resources are allocated to and accounted for in individual funds based upon the purposes for which they are to be spent and the means by which spending activities are controlled. The various funds are grouped, in the financial statements in this report, into five generic fund types and two broad fund categories as follows: GOVERNMENTAL FUNDS General Fund - The General Fund is the general operating fund of the City. It is used to account for all financial resources except those required to be accounted for in another fund. Special Revenue Funds - Special Revenue Funds are used to account for the proceeds of specific revenue sources that are restricted to expenditures for specified purposes. (Continued) -15- CITY OF EDINA, MINNESOTA NOTES TO FINANCIAL STATEMENTS (Continued) 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) A. Fund Accounting (continued) GOVERNMENTAL FUNDS (continued) Debt Service Funds - Debt Service Funds are used to account for the accumulation of resources for, and the payment of, general long -term debt principal, interest, and related costs. Special Assessment Funds - Special Assessment Funds are used to account for the financing of public improvements or services deemed to benefit the properties against which special assessments are levied. PROPRIETARY FUNDS Enterprise Funds - Enterprise Funds are used to account for operations (a) that are financed and operated in a manner similar to private business enterprises - where the intent of the governing body is that the costs (expenses, including depreciation in some funds) of providing goods or services to the general public on a continuing basis be financed or recovered primarily through user charges; or (b) where the governing body has decided that periodic determination of revenues earned, expenses incurred, and /or net income is appropriate for capital maintenance, public policy, management control, accountability, or other purposes. B. Measurement Focus The accounting and reporting: treatment applied to the fixed assets and long -term liabilities associated with a fund are determined by its measurement focus. All governmental funds are accounted for on a spending or "financial flow" measurement focus. This means that only current assets and current liabilities are generally included on their balance sheets; accordingly, their reported fund balance is considered a measure of "available spendable resources ". Governmental fund operating statements present increases and decreases in net current assets. Accordingly, they are said to present a summary of sources and uses of "available spendable resources" during a period. (Continued) -16- CITY OF EDINA, MINNESOTA NOTES TO FINANCIAL STATEMENTS (Continued) 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) B. Measurement Focus (continued) Fixed assets used in governmental fund types operations (general fixed assets) are accounted for in the General Fixed Assets Account Group, rather than in governmental funds. Public domain general fixed assets consisting of certain improvements other than buildings, including roads, bridges, curbs and gutters, streets and sidewalks, drainage systems, and lighting systems, are not capitalized along with other general fixed assets. No depreciation has been provided on general fixed assets. All fixed assets are valued at historical cost or estimated historical cost if actual cost is not available. Donated fixed assets are valued at their estimated fair value on the date donated. Long -term liabilities expected to be financed from governmental funds are accounted for in the General Long -term Debt Account Group, not in the governmental funds. The single exception to this general rule is for special assessment bonds, which are accounted for in special assessment funds. The two account groups are not "funds ". They are concerned only with the measurement of financial position. They are not involved with measurement of results of operations. All proprietary funds are accounted for on a cost of services or "capital maintenance" measurement focus. This means that all assets and all liabilities associated with their activity are included on their balance sheets. Their reported fund equity is segregated into contributed capital and retained earnings components. The operating statements of the funds present increases (revenues) and decreases (expenses) in net total assets. (Continued) -17- CITY OF EDINA, MINNESOTA NOTES TO FINANCIAL STATEMENTS (Continued) 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) B. Measurement Focus (continued) Depreciation of exhaustible fixed assets used by proprietary funds is charged as an expense against their operations (see Note 2). Accumulated depreciation is reported on proprietary fund balance sheets. Depreciation has been provided over the estimated useful lives using the straight -line method. The City follows the practice of including, as part of property, plant and equipment of these funds, the cost of collection systems which are paid for by assessments against benefited property. C. Basis of Accounting Basis of accounting refers to when revenues and expenditures or expenses are recognized in the accounts and reported in the financial statements. Basis of accounting relates to the timing of the measurements made, regardless of the measurement focus applied. The governmental fund types are accounted for using the modified accrual basis of accounting. Their revenues are recognized when they become measurable and available as net current assets. Expenditures are generally recognized under the modified accrual basis of accounting when the related fund liability is incurred. Exceptions to this general rule include: (1) accumulated unpaid vacation, sick pay, and other employee amounts which are not accrued; and (2) interest on long -term debt which is recognized when due except in the special assessment fund where current portions are accrued. The proprietary fund types are accounted for using the accrual basis of accounting. Their revenues are recognized when they are earned, and their expenses are recognized when they are incurred. Unbilled utility service receivables are recorded at year -end. (Continued) -18- CITY OF EDINA, MINNESOTA NOTES TO FINANCIAL STATEMENTS (Continued) 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) D. Budgets and Budgetary Accounting The City follows these procedures in establishing the budgetary data reflected in the financial statements: 1. Prior to January 1, the budget is adopted by the City Council. 2. Formal budgetary integration is employed as a management control device during the year for the General Fund and special revenue funds. 3. Budgets for the General and special revenue funds are adopted on a basis consistent with generally accepted accounting principles (GAAP). 4. Reported budget amounts are as originally adopted or as amended by Council approved supplemental appropriations and budget transfers. E. Cash and Temporary Investments Cash surpluses are invested in certificates of deposit and short -term government securities. Investment earnings are allocated to funds on the basis of individual participation. Investments are stated at cost, which approximates market, and are identified with specific funds. F. Accumulated Unpaid Vacation and Sick Pay Accrued vacation and sick pay are not recorded as liabilities at December 31, 1982. City employees are entitled to vacation and sick pay based on length of employment and the payment thereof is treated as expense in the period paid. The amount of accrued leave at December 31, 1982 for vacation and sick pay was $314,096 and $1,424,158 respectively, although it is anticipated that only a percentage of the accrued sick pay will be used. (Continued) -19- CITY OF EDINA, MINNESOTA NOTES TO FINANCIAL STATEMENTS (Continued) 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) G. Comparative Data Comparative data for the prior year have been presented to provide an understanding of changes in the City's financial position and operation. H. Total Columns on Combined Statements - Overview Total columns on the combined statements - overview are captioned memorandum only to indicate that they are presented only to facilitate financial analysis. Data in these columns do not present financial position, results of operations, or changes in financial position in conformity with generally accepted accounting principles. Neither is such data comparable to a consolidation. Inter -fund eliminations have not been made in the aggregation of this data. I. Property taxes Allowances are provided for the full amount of delinquent taxes receivable. This has the effect of recognizing property tax revenues at the time property taxes are collected. J. Inventory Inventory held by the proprietary funds is stated at cost, which is lower than market on a first -in, first -out basis. (Continued) -20- CITY OF EDINA, MINNESOTA NOTES TO FINANCIAL STATEMENTS (Continued) 2 DEPRECIATION - PROPRIETARY FUND TYPE PROPERTY AND EQUIPMENT Certain property and equipment of the enterprise funds has not been depreciated and related depreciation expense is not included as an operating expense. The amount by which the related expense would affect the financial statements has not been determined. The City has adopted the policy of not recording depreciation on items of property and equipment which will not be replaced from operating revenues. Such a policy is not in accordance with generally accepted accounting principles. The following property and equipment has not been depreciated: Cost Swimming Pool Fund - Pool, bathhouse and filter system $ 316,054 Golf Course Fund - Buildings, well, parking lot and road 377,491 Recreation Center Fund - Land improvements and building 1,014,338 Gun Range Fund - Land improvements and building 63,822 Art Center Fund - Land improvements and building 232,504 $2,004,209 3 BONDED DEBT The City has three types of bonded debt outstanding at December 31, 1982. There are general obligation bonds, special assessment improvement bonds, and revenue bonds. The first type of bond is payable solely from general property taxes. The second and third types are payable primarily from special assessments and enterprise revenue, respectively, with any deficiency to be provided for by general property taxes. (Continued) -21- CITY OF EDINA, MINNESOTA NOTES TO FINANCIAL STATEMENTS (Continued) 3 BONDED DEBT (Continued) The bonded debt outstanding at December 31, 1982 is summarized as follows: Maturities Interest rates General Obligation Bonds 1983 -1993 5.50 -11.00 Special Assessment Bonds 1983 -1986 4.30 -9.50 G.O. Revenue Bonds 1983 -1987 3.40 -5.25 Changes in bonded debt during the year were as follows: Bonds outstanding January 1 General Obligation Bonds $ 6,500,000 Special Assessment Bonds 6,700,000 G.O. Revenue Bonds 585,000 $13.7850000 Redeemed $ 100,000 800,000 145,000 $1,045.000 Amount $ 6,400,000 5,900,000 440,000 $12.740.000 Bonds outstanding December 31, $ 6,400,000 5,900,000 440,000 $12.740,000 The City has the following revenue bonds outstanding at December 31, 1982: Golf Course Bonds of 1964 $250,000 G.O. Recreation Center Bonds, Series D of 1978 190,000 440 000 These general obligation revenue bond issues are payable primarily from the respective enterprise fund with any deficiency to be provided first from Liquor Fund revenue and then from general property taxes. (Continued) -22- CITY OF EDINA, MINNESOTA NOTES TO FINANCIAL STATEMENTS (Continued) 3 BONDED DEBT (Continued) The annual requirements to amortize all debt outstanding as of December 31, 1982, including interest payments of $4,873,360 are as follows: Year ending General Special Retirements Balance December 31, obligation assessment Revenue Total 1983 $ 674,225 $1,278,700 $128,565 $ 2,081,490 1984 1,118,725 4,938,300 123 745 6,180,770 1985 1,070,375 326,400 128,925 1,525,700 1986 1,021,875 313,200 53,500 1,388,575 1987 1,072,325 278,340 51,750 1,124,075 1988 -1992 4,547,000 199,222 Tools 4,547,000 1993 765,750 5,812 Election equipment 765,750 $10.270.275 $6,856.600 $486.485 $17.613,360 $6,583,550 is available in the Debt Service Fund to service the general obligation. The City is in compliance.with all significant bond covenants. 4 CHANGES IN GENERAL FIXED ASSETS A summary of changes in general fixed assets during 1982 follows: (Continued) -23- Balance Retirements Balance January 1, Additions or transfers December 31, Land $ 2,281,117 $ 100 $ 2,281,017 Land improvements 1,405,617 $ 77,240 1,482,857 Buildings 1,869,340 1,869,340 Furniture and fixtures 262,124 16,216 278,340 Vehicles 170,554 28,668 199,222 Tools 5,812 5,812 Election equipment 131,320 131,320 Engineering equipment 49,596 49,596 Fire equipment 492,770 8,310 5,120 495,960 Highway equipment 1,133,403 97,890 11,342 1,219,951 Park equipment 229,691 14,234 243,925 Police equipment 312,346 63,892 52,591 323,647 Miscellaneous equipment 126,475 5,244 121,231 Traffic signals equipment 91,706 91,706 Parks 2,462,435 348,337 2,810,772 Construction in progress 1,194 1,194 $11.024.306 $§5549U $ 7 $11.605.890 (Continued) -23- CITY OF EDINA, MINNESOTA NOTES TO FINANCIAL STATEMENTS (Continued) 5 PROPRIETARY FUND PROPERTY AND EQUIPMENT A summary of proprietary fund property and equipment at December 31, 1982 follows: 6 METROPOLITAN WASTE CONTROL COMMISSION The receivable and corresponding deferred revenue of the enterprise funds from the Metropolitan Waste Control Commission represents the City's share of equity in the City's system which was acquired by the Commission January 1, 1971. This receivable will be paid to the City by issuing credits annually through 1999 against future sewer billings from the Commission. These credits are reflected in the statement of income as received. (Continued) -24- Property and Accumulated Net Estimated Enterprise funds equipment depreciation book value useful life Land $ 285,341 $ 285,341 Golf course 820,300 820,300 Land improvements 144,868 $ 28,866 116,002 25 Water distribution system 8,871,404 2,882,540 5,988,864 5 - 50 Sewer collection system 10,503,904 2,157,688 8,346,216 100 Major recreation facilities 1,770,950 1,770,950 Major water facilities 2,617,904 1,888,547 729,357 5 - 25 Buildings - Liquor stores 729,769 197,378 532,391 25 Furniture and fixtures 400,784 247,427 153,357 10 Equipment and machinery 550,226 264,633 285,593 5 - 10 Vehicles 32,531 22,527 10,004 5 Construction in progress 1,478 1,478 126.729.459 $7,689.606 $19.039.853 6 METROPOLITAN WASTE CONTROL COMMISSION The receivable and corresponding deferred revenue of the enterprise funds from the Metropolitan Waste Control Commission represents the City's share of equity in the City's system which was acquired by the Commission January 1, 1971. This receivable will be paid to the City by issuing credits annually through 1999 against future sewer billings from the Commission. These credits are reflected in the statement of income as received. (Continued) -24- CITY OF EDINA, MINNESOTA NOTES TO FINANCIAL STATEMENTS (Continued) 6 METROPOLITAN WASTE CONTROL COMMISSION (Continued) Under the terms of an agreement with the Metropolitan Waste Control Commission, the City will be repaid the reserve capacity charges advanced to the Commission in annual installments including interest through 1988. These advances will be reflected as income when received. 7 NOTES RECEIVABLE During 1977, the City sold several properties for notes or contracts receivable, the balances of which were $53,213 in the Liquor Fund and $28,637 in the General Fund at December 31, 1982. Maturity dates range from 1983 to 1992 with interest rates from seven percent to twelve percent. Payments have been received according to the contract schedules. In 1982, the City entered into an agreement with a contractor related to the sale of materials resulting from work performed by the contractor. The balance of $184,495 as of December 31, 1982 is shown as a contract receivable and deferred revenue, until collected, in the Park Fund. The balance is due in three installments, with no interest, through December 1984. 8 RETIREMENT PLAN The City participates in a state -wide contributory pension plan under the Public Employees' Retirement Association, Minnesota Statutes Chapter 353, which covers all employees except certain temporary or seasonal employees. The City's contribution for pension costs under the state -wide plan was $457,295 for the year ended December 31, 1982. Under existing Minnesota law, the City has no future contingent obligations or commitments to the Plan or its participants except to make continuing contributions as determined from time to time by the State Legislature. (Continued) -25- CITY OF EDINA, MINNESOTA NOTES TO FINANCIAL STATEMENTS (Continued) 9 SEGMENT INFORMATION FOR ENTERPRISE FUNDS The City maintains operating funds for water and sewer services and liquor facilities. Individual funds are also maintained for other enterprise operations which are recreational in nature such as; Swimming Pool, Golf Course, Recreation Center, Gun Range and Art Center. Segment information for the year ended December 31, 1982 is as follows: Other Total enterprise enterprise Water Sewer Liquor funds funds Sales (less cost of $4,765,417) $ 912,687 Operating revenues $1,004,718 $2,030,276 $ 1,051,527 Depreciation 268,299 119,221 51,860 28,999 Net income (loss) before transfers 9,029 (130,814) 326,036 56,734 Operating trans- fers out 450,000 Current capital contributions 81,082 84,442 Property and equipment: Additions 95,221 84,604 2,787 74,709 Disposals 2,133 Net working capital 1,647,803 (238,181) 572,489 (1,108,852) Bonds and other long -term liabilities payable from operating revenues 440,000 Total assets 81495,560 8,864,974 2,566,277 2,348,477 Total equity 8,471,256 8,166,032 1,935,506 812,049 (Continued) -26- $ 912,687 4,086,521 468,379 260,985 450,000 165,524 257,321 2,133 873,259 440,000 22,275,288 19,384,843 CITY OF EDINA, MINNESOTA NOTES TO FINANCIAL STATEMENTS (Continued) 10 DEPOSITS PAYABLE Included in deposits payable are balance Fund and $957,035 in the special assessmen balance of monies received from the Transportation for state -aid projects December 31, 1982. Upon completion of the applied to construction in progress. 11 BOND PROCEEDS s of $81,711 in the General t funds which represent the Minnesota Department of which were incomplete at projects, deposits will be In 1975, the City issued General Obligation Park Bonds of $950,000. The proceeds of the issue were recorded in the Debt Service Fund and transfers were made to the Park or General Fund for land acquisition. Transfers totaling $854,993 have been made during years ended December 31, 1975 through 1982, leaving a balance of $95,007 at December 31, 1982, which is shown as a reservation of fund balance in the Park Bond Fund. 12 EDINA FIREMEN'S RELIEF ASSOCIATION The Edina Firemen's Relief Association is the pension fund for the City's Volunteer Fire Department employees. Funding for the pension plan is provided from the two percent insurance premium rebate from the State of Minnesota. The City is responsible for any unfunded portion of the Relief Association's accrued liability. As of December 31, 1982, there was no unfunded liability. (Continued) -27- CITY OF EDINA, MINNESOTA NOTES TO FINANCIAL STATEMENTS (Continued) 13 INTER -FUND RECEIVABLE AND PAYABLE BALANCES Inter -fund receivables and payables as of December 31, 1982 were as follows: Inter -fund Inter -fund Fund receivables payables General $ 759,179 $ 249,204 Special Revenue: Park 292,896 32,950 Revenue Sharing 14,572 225,000 Debt Service: Park Bond 11,960 Special Assessment: Permanent Improvement Revolving 207,687 8,066 Improvement Bond Redemption - I 1,647 112,068 Improvement Bond Redemption - II 38,959 218,591 Construction 316,837 282,392 Enterprise: Water 308,130 Sewer 63,520 Liquor 415,000 469,167 Swimming Pool 5,000 Golf Course 567,826 Recreation Center 331,056 476,764 Gun Range 3,000 180 Art Center 195 $2.705.923 $2.705,923 (Continued) -28- CITY OF EDINA, MINNESOTA NOTES TO FINANCIAL STATEMENTS (Continued) 14 RESERVED OR DESIGNATED FUND EQUITY The following fund equity balances as of December 31, 1982 have been reserved or designated for the reasons noted below: General Fund: Commitments Dedicated funds Other Total General Fund Special Revenue Funds: Park: Dedicated funds Revenue Sharing 1982 budget transfer Total Special Revenue Funds Debt Service Funds: Redevelopment Bond: Debt service Park Bond: Bond proceeds reserved for construction Total Debt Service Funds Special Assessment Funds: Reserved for construction Total Special Assessment Funds Total Fund Equity Reservations (Continued) -29- $ 585,286 78,109 44,310 707,705 301,732 225,000 526,732 6,583,550 95,007 6,678,557 40,731 40,731 $7,953,725 CITY OF EDINA, MINNESOTA NOTES TO FINANCIAL STATEMENTS (Continued) 15 FUND DEFICIENCIES /DEFICITS Expenditures exceeded revenues in certain individual funds for the year ended December 31, 1982 as follows: Park Fund Park Bond Fund Sewer Fund Swimming Pool Fund Recreation Center Fund Gun Range Fund Art Center Fund Revenue Sharing Fund Nursing Services Fund Redevelopment Bond 16 EXPENDITURES IN EXCESS OF APPROPRIATIONS $ 78,471 55,682 130,814 15,763 13,736 9,585 12,184 29,572 35,705 100,000 Park Fund expenditures of $1,209,432 exceeded appropriations in 1982 by $135,759. There were no other individual fund expenditures in excess of appropriations. -30- CITY OF EDINA, MINNESOTA GENERAL FUND COMPARATIVE BALANCE SHEET December 31, 1982 and 1981 Petty cash and change funds Cash Investments: Land Donated securities Taxes receivable: Unremitted Delinquent Allowance for uncollectible taxes Accounts receivable Contracts receivable Due from other funds Due from Edina HRA Due from other governmental units Inventory Total assets ASSETS 1982 $ 550 222,283 24,500 995 42,556 94,171 (94,171) 74,416 28,637 759,179 503,010 131,987 10,000 &1.798.113 LIABILITIES AND FUND BALANCE 1981 $ 550 173,323 24,500 995 36,413 71,602 (71,602) 154,855 26,650 679,782 292,977 855,618 10,000 $2.255.663 Liabilities: Accounts payable $ 126,905 $ 186,249 Due to other funds 249,204 654,116 Due to other governmental units 52,560 98,110 Accrued payroll 48,320 25,095 Deposits payable: Dedicated Funds 37,457 39,095 Other 82,711 82,711 Total liabilities 597,157 1,085,376 Fund balance: Reserved or designated 707,705 705,487 Unreserved- Undesignated 493,251 464,800 Total fund balance 1,200,956 1,1701287 Total liabilities and fund balance 51.798.113 $2.2554663 -31- CITY OF EDINA, MINNESOTA GENERAL FUND STATEMENT OF REVENUES, EXPENDITURES AND FUND BALANCE Year Ended December 31, 1982 (With Comparative Actual Amounts for Year Ended December 31, 1981) Revenues: Taxes Licenses and permits Intergovernmental revenues: Federal State County Charges for services Fines and forfeitures Other Interest on investments Sales and rental of property Total revenues Other sources: Transfers from other funds Total revenues and other sources Appropriated from prior year's fund balance to finance 1982 budget Expenditures: General government Public safety Public works Unallocated general expenditures Total expenditures Net increase (decrease) in fund balance Fund balance January 1 Fund balance December 31 1982 Budget Actual 1981 Actual $3,512,037 $3,463,682 $3,056,144 296,500 337,208 335,480 11,500 1,768,765 86,405 322,400 250,000 63,900 38,000 8,000 6,357,507 2,952 1,728,322 78,405 296,898 281,825 114,347 124,413 16,704 6,444,756 9,376 1,981,080 104,986 328,346 256,447 42,978 49,459 21,252 6,185,548 437,263 439,393 295,000 6,794,770 6,884,149 6,480,548 156,317 $6,951.087 $ 989,955 3,601,329 2,136,020 223,783 1,003,928 3,513,056 2,073,000 263,496 842,863 3,260,927 2,117,412 385,232 $6,951.087 6,853,480 6,606,434 -32- 30,669 (125,886) 1,170,287 1,296,173 $1,200.956 $1,170.287 CITY OF EDINA, MINNESOTA GENERAL FUND STATEMENT OF REVENUES Year Ended December 31, 1982 (With Comparative Actual Amounts for Year Ended December 31, 1981) Taxes: General property tax Penalties and interest Total taxes Licenses and permits Intergovernmental revenues: Federal aid State grants: Local government aid Homestead credit State highway aid Police aid Planning aid State aid - Trees Other state aid County grants: Health programs Total inter - governmental revenues Charges for services: Engineering, clerical charges and searches Planning fees False alarms Housing and Redevelopment Authority Charges to other funds Ambulance service Other 1982 Budget Actual 1981 Actual $3,487,037 $3,436,092 $3,036,971 25,000 27,590 19,173 3,512,037 3,463,682 3,056,144 296,500 337,208 335,480 296,898 11,500 2,952 9,376 903,058 862,943 940,003 666,571 666,571 784,809 54,000 55,965 54,465 120,000 109,484 102,382 21,774 6,223 23,556 78,210 3,362 9,803 14,988 86,405 78,405 104,986 11866,670 1,809,679 2,095,442 140,000 10,000 12,000 5,000 68,100 85,000 2,300 94,873 5,259 20,834 12,300 68,100 88,219 7,313 163,786 10,269 16,218 61,800 67,692 8,581 Total charges for services 322,400 296,898 328,346 Fines and forfeitures 250,000 281,825 256,447 (Continued) -33- CITY OF EDINA, MINNESOTA GENERAL FUND STATEMENT OF REVENUES (Continued) Year Ended December 31, 1982 (With Comparative Actual Amounts for Year Ended December 31, 1981) 1982 Budget Actual Miscellaneous revenues: Interest $ 38,000 Sale and rental of property 8,000 Donations 1,000 Other 62,900 Total miscellaneous revenues 109,900 Total revenues 6,357,507 Other sources: Transfers from other funds: Revenue Sharing Fund Liquor Fund Nursing Services Fund Total transfers 225,000 177,500 34,763 437,263 $ 124,413 16,704 8,857 105,490 255,464 6,444,756 225,000 177,500 36,893 439,393 1981 Actual $ 49,459 21,252 4,965 38,013 113,689 6,185,548 225,000 70,000 295,000 Total revenues and other sources $6,7944770 56,884,149 $6.480,548 -34- CITY OF EDINA, MINNESOTA GENERAL FUND STATEMENT OF EXPENDITURES Year Ended December 31, 1982 (with Comparative Actual Amounts for Year Ended December 31, 1981) General government: Mayor and Council: Personal services Contractual services Commodities Central services Planning: Personal services Contractual services Commodities Central services Administration: Personal services Contractual services Commodities Central services Finance: Personal services Contractual services Commodities Central services Capital outlay 1982 1981 Budget Actual Actual $ 21,450 $ 21,450 $ 21,517 4,650 4,533 1,079 100 10 10,200 10,200 9,060 36,400 36,183 31,666 87,213 975 400 25,680 114,268 169,708 34,400 1,025 45.540 250,673 129,684 30,472 400 32,700 193,256 (Continued) -35- 87,726 339 97 25,680 113,842 176,220 32,709 855 45,540 255,324 129,966 29,485 311 32,700 192,462 69,643 264 162 23,760 93,829 155,193 19,007 192 43.320 217,712 115,622 21,361 694 27,120 14,803 179,600 CITY OF EDINA, MINNESOTA GENERAL FUND STATEMENT OF EXPENDITURES (Continued) Year Ended December 31, 1982 (With Comparative Actual Amounts for Year Ended December 31, 1981) General government (continued): Election: Personal services Contractual services Commodities Central services Capital outlay Assessing: Personal services Contractual services Commodities Central services Capital outlay Legal and court services: Personal services Contractual services Total general government Public safety: Police protection: Personal services Contractual services Commodities Central services Capital outlay 1982 1981 Budget Actual Actual $ 26,764 $ 32,178 $ 6,223 12,125 10,625 249 1,799 2,817 168 5,220 5,220 5,040 250 45,908 50,840 11,930 121,230 124,943 105,322 19,600 18,673 5,285 1,000 638 1,593 35,220 35,220 30,660 5.563 177,050 179,474 148,423 35,000 34,705 27,950 137,400 141,098 131,753 172,400 175,803 159,703 989,955 1,003,928 842,863 1,381,735 1,396,355 1,236,183 51,050 49,467 49,056 16,680 16,436 13,216 429,840 429,840 413,340 74.600 66.495 51.757 1,953,905 1,958,593 1,763,552 (Continued) -36- CITY OF EDINA, MINNESOTA GENERAL FUND STATEMENT OF EXPENDITURES (Continued) Year Ended December 31, 1982 (With Comparative Actual Amounts for Year Ended December 31, 1981) Public safety (continued): Fire protection: Personal services Contractual services Commodities Central services Capital outlay Civil defense: Personal services Contractual services Commodities Capital outlay Public health: Personal services Contractual services Commodities Central services Capital outlay Animal control: Personal services Contractual services Commodities Central services Capital outlay 1982 Budget Actual $ 837,782 50,430 20,960 262,140 90,000 $ 869,464 33,197 20,914 262,140 8,310 1981 Actual $ 772,061 38,111 24,949 224,400 76,031 1,261,312 1,194,025 1,135,552 10,069 3,122 2,150 3,000 805 588 2,219 5,711 1,245 1,290 18,341 4,269 7,589 73,508 94,033 1,950 24,960 400 194,851 (Continued) -37- 14,658 4,250 500 7,920 3,000 30,328 69,693 93,722 1,921 24,960 190,296 11,599 3,546 472 7,920 23,537 60,705 103,369 2,765 24,840 191,679 10,490 4,035 476 7,320 7,919 30,240 CITY OF EDINA, MINNESOTA GENERAL FUND STATEMENT OF EXPENDITURES (Continued) Year Ended December 31, 1982 (With Comparative Actual Amounts for Year Ended December 31, 1981) Public safety (continued): Inspections: Personal services Contractual services Commodities Central services Total public safety Public works: Administration: Personal services Contractual services Central services Engineering: Personal services Contractual services Commodities Central services Capital outlay 1982 1981 Budget Actual Actual $ 107,214 3,940 538 30,900 142,592 3,601,329 51,914 700 15,900 68,514 172,682 3,760 8,300 61,740 246,482 Supervision and overhead: Personal services 160,950 Contractual services 900 Commodities 500 Central services 179,640 $ 110,818 166 452 30,900 142,336 3,513,056 51,680 635 15,900 68,215 183,586 6,400 8,353 61,740 260,079 160,373 280 32 179,640 341,990 340,325 (Continued) -38- $ 102,421 402 332 29.160 132,315 3,260,927 47,898 186 14,880 62,964 171,980 5,339 8,056 57,660 540 243,575 137,943 155 252 150,660 289,010 CITY OF EDINA, MINNESOTA GENERAL FUND STATEMENT OF EXPENDITURES (Continued) Year Ended December 31, 1982 (With Comparative Actual Amounts for Year Ended December 31, 1981) Public works (continued): Street maintenance: Personal services Contractual services Commodities Central services Street lighting: Personal services Contractual services Commodities Central services Street name signs: Personal services Contractual services Commodities Central services Traffic control: Personal services Contractual services Commodities Central services 1982 1981 Budget Actual Actual $ 305,081 9,000 200,100 193,500 $ 295,599 8,789 198,160 193,500 $ 201,574 17,345 146,666 173,520 707,681 696,048 539,105 9,000 240,990 4,900 3,000 257,890 (Continued) -39- 6,941 8,860 217,380 4,799 3,000 234,039 6,838 1,660 987 6,300 6,300 14,901 25,496 27,700 14,970 12,000 80,166 14,125 25,585 26,917 13,566 12,000 78,068 12,814 200,768 6,673 2,700 222,955 7,837 24 5,224 5,640 18,725 24,633 29,742 14,063 10,800 79,238 CITT OF EDINA, MINNESOTA GENERAL FUND STATEMENT OF EXPENDITURES (Continued) Year Ended December 31, 1982 (With Comparative Actual Amounts for Year Ended December 31, 1981) Public works (continued): Bridges: Personal services Commodities Central services Storm drainage: Personal services Contractual services Commodities Central services City properties: Personal services Contractual services Commodities Central services Sidewalks and ramps: Personal services Contractual services Commodities Central services Other expenditures: Capital outlay Building improvements Total public works 1982 1981 Budget Actual Actual $ 369 $ 271 3,000 3,000 3,369 3,271 14,092 1,000 12,900 12,000 39,992 88,583 60,200 9,550 16,800 175,133 19,447 25,200 23,200 3,720 71,567 108,335 20,000 128,335 2,136,020 (Continued) -40- 7,464 730 6,009 12,000 26,203 83,046 53,899 7,140 16,800 160,885 13,820 24,339 21,646 3.720 63,525 108,217 20,000 128,217 2,073,000 $ 561 595 2,700 3,856 18,313 8,914 5,324 10.800 43,351 133,859 62,697 11,307 15.480 223,343 12,840 22,212 3,434 3.360 41,846 77,329 272,115 349,444 2,117,412 CITY OF EDINA, MINNESOTA GENERAL FUND STATEMENT OF EXPENDITURES (Continued) Year Ended December 31, 1982 (with Comparative Actual Amounts for Year Ended December 31, 1981) Unallocated general expenditures: Human Rights Commission Historical Preservation South Hennepin Human Services Council Central services - Capital outlay City's share of special assessments Dutch elm subsidy Recycling Fireworks Bike safety Contingencies Capital improvements Other Central services Total expenditures 1982 1981 Budget Actual Actual $ 31,620 $ 24,731 $ 26,360 2,000 31,091 9,420 3,520 6,720 2,901 9,600 9,393 18,961 77,300 77,257 84,248 800 675 28,892 15,493 13,933 12,672 2,750 2,500 2,500 138 478 44,500 45,529 58,203 20,000 975 207.583 183,967 245,610 16,200 79,529 139,622 $6.951.087 $6.8534480 $6.606.434 -41- CITY OF EDINA, MINNESOTA GENERAL FUND SCHEDULE OF CENTRAL SERVICES EXPENDITURES Year Ended December 31, 1982 (With Comparative Actual Amounts for Year Ended December 31, 1981) General: Contractual services Commodities City Hall: Personal services Contractual services Commodities Fixed charges Public Works building: Personal services Contractual services Commodities Fixed charges Equipment operations: Personal services Contractual services Commodities Fixed charges Total central services expenditures Less allocation to other activities Net central services 1982 Budget Actual 1981 Actual $1,202,980 $1,205,901 $1,154,187 14,580 21,056 17,237 1,217,560 1,226,957 1,171,424 40,960 28,700 17,140 3,960 46,625 28,645 17,633 3,960 49,886 25,369 20,137 3,720 90,760 96,863 99,112 26,538 53,212 10,250 4,620 94,620 165,820 55,400 306,700 95.580 623.500 2,026,440 2,010,240 $ 16.200 -42- 27,610 65,002 10,579 4,620 107,811 175,436 62,899 324,223 95,580 658,138 2,089,769 2,010,240 S 79.529 34,077 44,828 12,198 4.020 95,123 159,077 61,412 317,714 85,140 623,343 1,989,002 1,849,380 $ 139.622 CITY OF EDINA, MINNESOTA SPECIAL REVENUE FUNDS COMBINING BALANCE SHEET December 31, 1982 (With Comparative Totals for December 31, 1981) ASSETS Cash (deficit) Unremitted taxes receivable Contracts receivable Due from other funds Due from other Revenue Nursing Sharing Services $491,246 14,572 Totals Park 1982 1981 $(232,561) $258,685 $ 67,051 5,053 5,053 184,495 184,495 292,896 307,468 4,358 696,335 governmental units 47,817 47,817 44,413 Total assets $553®.635_0_ $ 249,883 $803,518 $812,157 LIABILITIES AND FUND BALANCE Liabilities: Accounts payable $ 31,510 $ 31,510 $ 53,835 Contracts payable Due to other funds $225,000 32,950 257,950 293,211 Due to other governmental units 6,430 6,430 Accrued payroll 5,087 5,087 3,607 Deposits 8,443 8,443 8,153 Deferred revenue 184,495 184,495 Total liabilities 225,000 268,915 493,915 358,806 Fund balance (deficit): Reserved or designated 225,000 301,732 526,732 482,782 Unreserved - Undesignated 103,635 (320,764) (217,129) (29,431) Total fund balance 328,635 (19,032) 309,603 453,351 Total liabilities and fund balance 53 635 L.-O- $ 249.883 $ 803,518 12 157 -43- CITY OF EDINA, MINNESOTA SPECIAL REVENUE FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES AND FUND BALANCE Year Ended December 31, 1982 (With Comparative Totals for year ended December 31, 1981) Revenues: Taxes Intergovernmental revenues: Federal grant - Federal Revenue Sharing State grant - Homestead credit Charges for services Miscellaneous revenues: Interest Other Parkland dedication Total revenues Other sources - transfers from other funds Total revenues and other sources Expenditures: Current expenditures Capital outlay Total expenditures Revenue Nursing Sharing Services $180,856 Park Totals 1982 1981 $ 506,925 $ 506,925 $ 459,538 180,856 213,843 110,640 110,640 117,338 34,108 34,108 27,401 14,572 $ 1,188 9,583 25,343 47,121 112,965 112,965 5,056 84,240 84,240 80,500 195,428 1,188 858,461 1,055,077 950,797 272,500 272,500 330,000 195,428 1,188 1,130,961 1,327,577 1,280,797 Other uses: Transfers to other funds 225,000 36,893 826,282 826,282 785,141 383,150 383,150 258,574 1,209,432 1,209,432 1,043,715 261,893 225,000 Total expenditures and other uses 225,000 36,893 1,209,432 1,471,325 1,268,715 Net increase (decrease) in fund balance (29,572) (35,705) (78,471) (143,748) 12,082 Fund balance January 1 358,207 35,705 59,439 453,351 441,269 Fund balance December 31 $3284Q5 $ (19.032)$ 309.603 $ 453,351 -44- CITY OF EDINA, MINNESOTA REVENUE SHARING FUND STATEMENT OF REVENUES, EXPENDITURES AND FUND BALANCE Year Ended December 31, 1982 (With Comparative Actual Amounts for Year Ended December 31, 1981) NURSING SERVICES FUND STATEMENT OF REVENUES, EXPENDITURES AND FUND BALANCE Year Ended December 31, 1982 (With Comparative Actual Amounts for Year Ended December 31, 1981) 1982 1981 Budget Actual Actual Revenue: Interest on investments $ 1,188 $ 942 Other uses - transfer to General Fund $ 34,763 36,893 Net increase (decrease) in fund balance 34 63) (35,705) Fund balance January 1 Fund balance December 31 -45- 942 35,705 34,763 5 705 1982 1981 Budget Actual Actual Revenues: Federal Revenue Sharing Grant $225,000 $180,856 $213,843 Interest on investments 14,572 27,084 Total revenues 225,000 195,428 240,927 Other uses - transfer to General Fund 225,000 225,000 225,000 Total other uses 225,000 225,000 225,000 Net increase in fund balance --0- (29,572) 15,927 Fund balance January 1 358,207 342,280 Fund balance December 31 328 $358.207 NURSING SERVICES FUND STATEMENT OF REVENUES, EXPENDITURES AND FUND BALANCE Year Ended December 31, 1982 (With Comparative Actual Amounts for Year Ended December 31, 1981) 1982 1981 Budget Actual Actual Revenue: Interest on investments $ 1,188 $ 942 Other uses - transfer to General Fund $ 34,763 36,893 Net increase (decrease) in fund balance 34 63) (35,705) Fund balance January 1 Fund balance December 31 -45- 942 35,705 34,763 5 705 CITY OF EDINA, MINNESOTA PARK FUND STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE Year Ended December 31, 1982 (With Comparative Actual Amounts for Year Ended December 31, 1981) Revenues: General property taxes State grant - Homestead credit Registration fees Interest on investments Parkland dedication Sale of property Grants and donations Other revenues Total revenues Other sources - Transfer from Liquor Fund Total revenues and other sources Expenditures: Administration: Personal services Contractual services Commodities Central services Training Paid leave Total administration Recreation: Baseball and softball Skating and hockey Tennis instruction Playground Swimming instruction Senior citizens Miscellaneous and special activities Total recreation 1982 1981 Budget Actual Actual $ 634,175 34,000 4,000 90,000 37,498 1,500 801,173 $ 506,925 110,640 34,108 9,583 84,240 54,722 38,898 19,345 858,461 $ 459,538 117,338 27,401 19,095 80,500 3,171 1,885 708,928 272,500 272,500 330,000 1,073,673 1,130,961 1,038,928 133,955 135,464 124,593 3,050 3,900 4,087 500 1,080 1,673 138,120 138,120 150,780 1,650 1,738 1,589 42,300 49,210 41,388 319,575 7,000 20,000 6,400 11,900 24,700 6,700 329,512 8,960 19,596 5,597 15,484 20,735 6,686 324,110 9,640 20,449 5,743 17,399 19,546 5,029 13,000 16,122 13,954 89,700 93,180 91,760 (Continued) -46- CITY OF EDINA, MINNESOTA PARK FUND STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE (Continued) Year Ended December 31, 1982 (With Comparative Actual Amounts for Year Ended December 31, 1981) Capital outlay 277,498 Total expenditures 1,073,673 Net increase (decrease) in fund balance $ -0- Fund balance January 1 Fund balance December 31 -47- 383,150 1,209,432 (78,471) 258,574 1,043,715 (4, 787) 59,439 64,226 $ (19.032) $ 59,439 1982 1981 Budget Actual Actual Expenditures (continued): Maintenance: Mowing $ 42,000 $ 45,526 $ 45,997 Special turf care 82,520 100,492 100,021 Planting and trees 30,880 19,910 22,654 Litter removal 26,240 31,684 33,440 Parking areas 11,960 9,555 4,853 Buildings and equipment 112,100 123,196 90,182 Skating rinks 81,200 73,227 72,124 Total maintenance 386,900 403,590 369,271 Total current expenditures 796,175 826,282 785,141 Capital outlay 277,498 Total expenditures 1,073,673 Net increase (decrease) in fund balance $ -0- Fund balance January 1 Fund balance December 31 -47- 383,150 1,209,432 (78,471) 258,574 1,043,715 (4, 787) 59,439 64,226 $ (19.032) $ 59,439 CITY OF EDINA, MINNESOTA DEBT SERVICE FUNDS COMBINING BALANCE SHEET December 31, 1982 (with Comparative Totals for December 31, 1981) ASSETS FUND BALANCE Fund balance: Reserved or designated $6,583,550 $ 95,007 $6,678,557 $6,847,213 Unreserved - Undesignated 320,041 320,041 307,067 Total fund balance $6.583.550 $415,048 $649984598 $7,1544280 -48- Redevelopment Park Totals Bond Bond 1982 1981 Cash $402,607 $ 402,607 $ 310,509 Taxes receivable: Unremitted 481 481 186 Delinquent 891 891 1,759 Allowance for uncollectible taxes (891) (891) (1,759) Due from other funds 11,960 11,960 160,035 Due from Edina Housing and Redevelopment Authority $6,583,550 6,583,550 6,683,550 Total assets $6,583,550 JAL5,048 $6,998,598 $74154,280 FUND BALANCE Fund balance: Reserved or designated $6,583,550 $ 95,007 $6,678,557 $6,847,213 Unreserved - Undesignated 320,041 320,041 307,067 Total fund balance $6.583.550 $415,048 $649984598 $7,1544280 -48- CITY OF EDINA, MINNESOTA DEBT SERVICE FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES AND FUND BALANCE Year Ended December 31, 1982 (With Comparative Totals for December 31, 1981) Revenues: General property taxes Interest Advances from HRA Other source: Bonds issued Total revenues and other sources Expenditures: Bond principle Interest and service charges Other use: Transfer to Park Construction Fund Total expenditures and other use Net increase (decrease) in fund balance Fund balance January 1 Fund balance December 31 Redevelopment Park Totals Bond Bond 1982 1981 $ 1,013 $ 1,013 $ 1,030 11,961 11,961 31,961 $ 580,145 580,145 125,638 580,145 12,974 593,119 158,629 4,500,000 580,145 12,974 593,119 4,658,629 100,000 100,000 100,000 580,145 580,145 126,695 680,145 680,145 226,695 68,656 68,656 680,145 68,656 748,801 226,695 (100,000) (55,682) (155,682) 4,431,934 6,683,550 470,730 7,154,280 2,722,346 $6.583.550 $415,048 $6.998.598 $7.154.280 -49- CITY OF EDINA, MINNESOTA SPECIAL ASSESSMENT FUNDS COMBINING BALANCE SHEET December 31, 1982 (With Comparative Totals for December 31, 1981) ASSETS Total assets X445.359 LIABILITIES AND FUND BALANCE Permanent Liabilities: Improvement Accounts payable Revolving Cash (deficit) $223,222 Investments $ 8,066 Accounts receivable Special assessments receivable: Unremitted 173 Delinquent 741 Deferred 14,805 City's share Allowance for uncollectible receivables (1,481) Due from other funds 207,687 Due from other governmental units Unassessed construction costs 212 Construction in progress: 437,293 Current 445 359 Deferred Total assets X445.359 LIABILITIES AND FUND BALANCE Liabilities: Accounts payable Contracts payable Due to other funds $ 8,066 Due to other governmental units Accrued interest on bonds Deposits payable Deferred revenue Escrow deposits Bonds payable Total liabilities 8,066 Fund balance: Designated for construction Unreserved - Undesignated 437,293 Total fund balance 437,293 Total liabilities and fund balance 445 359 -50- Improvement Improvement Bond Bond Totals Redemption I Redemption II Construction 1982 1981 $1,167,535 $ 688,994 $(1,473,732) $ 606,019 $ 2,138,360 1,267,178 1,267,178 470,995 1,615 1,615 1,615 14,674 61,086 3,587,113 211,754 (240,442) 1,647 519,509 $6.590.054 $ 635 112,068 4,768 10,992 233,008 1,700,000 2,061,471 4,528,583 4,528,583 $6,590.054 858 104,484 4,078,598 (305,738) 38,959 28,884 $4,635.039 $ 218,591 54,713 99,813 12,256 4,200,000 4,585,373 49,666 49,666 $4.635.039 316,837 25,210 2,467,449 45,552 S 1.382,931 $ 469 45,552 282,392 1,013,787 1,342,200 40,731 40,731 $ 1.382,931 -51- 15,705 166,311 7,680,516 211,754 (547,661) 565,130 573,815 2,467,449 45,552 $13,053,383 $ 1,104 45,552 621,117 59,481 110,805 1,013,787 233,008 12,256 5.900.000 7,997,110 40,731 5,015,542 5,056,273 $13,053.383 25,521 65,400 7,411,294 211,754 (435,966) 1,582,791 733,336 2,076,692 619,561 $14,901.353 $ 10,154 619,561 1,902,994 6,191 115,246 520,162 225,251 6,700,000 10,099,559 40,617 4,761,177 4,801,794 $14,901.353 CITY OF EDINA, MINNESOTA SPECIAL ASSESSMENT FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES AND FUND BALANCE Year Ended December 31, 1982 (With Comparative Totals for Year Ended December 31, 1981) Revenues: Interest: Investments Special assessments Bonds issued Reimbursements from other funds Total revenues Other sources: Capitalized interest Assessment adjustments Total other sources Total revenues and other sources Expenditures: Interest Paying agent service charges Bond issue costs Bond discount Construction costs Other Total expenditures Other use: Assessment adjustments Total expenditures and other use Net increase in fund balance Fund balance January 1 Fund balance December 31 -52- Permanent Improvement Revolving $ 7,385 1,273 8,658 8,658 462 462 8,196 429,097 437 293 Improvement Improvement Bond Bond Totals Redemption I Redemption II Construction 1982 1981 $ 89,522 182,525 272,047 51,564 17,734 69,298 341,345 115,658 390 3,816 119,864 119,864 221,481 4,307,102 $4.528.583 $ 17,796 363,018 380,814 174,082 174,082 554,896 399,000 252 1,989 401,241 128.967 530,208 24,688 24,978 $$ 4 $1,749,493 1,749,493 1,749,493 1,749,379 1,749,379 1,749,379 114 40,617 $ 40.731 -53- $ 114,703 546,816 1,749,493 2,411,012 225,646 17,734 243,380 2,654,392 514,658 642 1,749,379 5,805 2,270,484 129.429 2,399,913 254,479 4,801,794 $5.056.273 $ 143,181 471,694 28,817 1,794,187 2,437,879 47,805 125,307 173,112 2,610,991 504,745 2,285 5,942 33,180 1,794,187 2,340,339 27.247 2,367,586 243,405 4,558,389 $4.801.794 CITY OF EDINA, MINNESOTA PROPRIETARY FUND TYPE - ENTERPRISE FUNDS COMBINING BALANCE SHEET December 31, 1982 (With Comparative Totals for December 31, 1981) ASSETS Current assets: Petty cash and change funds Cash (deficit) Investments Receivables: Accounts Customers Assessments Notes Due from other funds Due from other governmental units Inventory Prepaid expenses Total current assets Property and equipment, less accumulated depreciation Other assets: Loans to other funds Receivable - Metropolitan Waste Control Commission Notes receivable - less current portion Total other assets Total assets Water Sewer Liquor $ 3,800 $1,254,392 $ (609,589) 411,838 159,735 396,942 1,537 8,453 243,317 190,566 10,381 769,373 4,282 9,796 1,672,107 (20,544) 1,203,260 6.758.640 8.404,213 903,257 64,813 415,000 481,305 44,760 64,813 481,305 459,760 $8.4954560 $8.864.974 $2.566.277 (Continued) -54- Swimming Golf Recreation Gun Art Totals Pool Course Center Range Center 1982 1981 $ 800 $ 700 $ 175 $ 5,475 $ 5,450 $(97,761) ( 79,169) (642,205)$(32,915) (171, 929) 32,662 ( 289,121) 12,728 12,728 12,728 29,976 4,056 1,591 28,385 556,677 544,860 1,537 1,278 8,453 8,803 5,000 31,056 3,000 282,373 452,819 2,445 3,840 196,851 36,801 334 250 8,409 788,747 941,811 14,078 15,434 (92,761) (64,050) (579,285) (25,825) (163,345) 1,929,557 1,734,919 331,009 1,286,100 1,034,139 64,614 257,881 19,039,853 19,250,911 300,000 779,813 481,305 815,000 521,466 44,760 49,733 300,000 1,305,878 1,386,199 1238.248 $1,222.050 $ 754.854 S 38,789 $ 94.536 $22.275.288 122.372.029 -55- CITY OF EDINA, MINNESOTA PROPRIETARY FUND TYPE - ENTERPRISE FUNDS COMBINING BALANCE SHEET (Continued) December 31, 1982 (With Comparative Totals for December 31, 1981) LIABILITIES AND RETAINED EARNINGS Current liabilities: Accounts payable Due to other funds Due to other governmental units Accrued payroll Accrued interest Bonds payable Total current liabilities Other liabilities: Loan from other funds Deposits Deferred revenue Bonds payable, less current portion Total other liabilities Total liabilities Retained earnings: Invested in property and equipment Contributed Designated for debt retirement Unreserved - Undesignated Total retained earnings Total liabilities and retained earnings -56- Water _ $ 17,079 $ 5,425 1,800 Sewer Liquor 12,084 $ 119,199 63,520 469,167 141,005 34,130 1,028 8,275 24,304 217,637 630,771 481,305 481,305 24,304 698,942 630,771 1,082,548 903,257 5,676,093 8,404,213 1,712,615 (238,181) 1,032,249 8,471,256 8,166,032 1,935,506 $8.495.560 $8,864,974 $2.566,277 Swimming Golf Recreation Gun Art Totals 2,963,695 Pool Course Center Range Center 1982 1981 18,638 225,574 3,380,568 3,190,931 528 $ 457 $ 10,425 $ 22,342 $ 582 $ 5,190 $ 187,358 $ 209,319 22,826 6,764 180 195 562,652 521,441 (366,964) (26,587) (168,951) 1,747,689 1,705,123 180,560 96,750 59,475 1,631 2,773 19,384,843 221 15,728 10,009 319 500,000 60,000 110,000 145,000 457 84,882 91,879 762 50,606 1,056,298 982,838 545,000 470,000 4,342 3,500 200,000 130,000 749,342 603,500 1,015,000 1,015,000 7,842 4,391 481,305 521,466 330,000 440,000 1,834,147 1,980,857 457 834,224 695,379 762 5,606 2,890,445 2,963,695 330,481 461,583 358,487 18,638 225,574 3,380,568 3,190,931 528 29,517 15,652 45,976 32,307 14,204,286 14,459,980 52,300 52,300 52,300 (93,218) (103,274) (366,964) (26,587) (168,951) 1,747,689 1,705,123 237,791 387,826 59,475 38,027 88,930 19,384,843 19,408,334 $238,248 $1,222,050 $ 754,854 $ 38,789 $ 94,536 $22,275,288 $22,372,029 -57- CITY OF EDINA, MINNESOTA PROPRIETARY FUND TYPE - ENTERPRISE FUNDS COMBINING STATEMENT OF REVENUES, EXPENSES AND RETAINED EARNINGS Year Ended December 31, 1982 (With Comparative Totals for Year Ended December 31, 1981) Sales and cost of sales: Sales Cost of sales Operating revenues: Charges for services Total gross profit and operating revenues Operating expenses Operating income (loss) Other revenues: Interest Discounts Prior year's disposal charges Current value credit - MWCC Rental income Deferred charges Donations Grant Other Total other revenues Other expenses: Interest and paying agent fees Prior year's disposal charges Other Total other expenses Net income (loss) Transfers to other funds Property and equipment contributed by special assessments Disposal of non - depreciated equipment Net increase (decrease) in retained earnings Retained earnings January 1 Retained earnings December 31 -58- Water Sewer Liquor $5,678,104 4,765,417 912,687 $1,004,718 $2,030,276 1,004,718 2,030,276 912,687 1,026,006 2,364,510 674,448 (21,288) (334,234) 238,239 30,317 40,504 61,020 5,174 7,680 3,479 83,474 89,042 1,064 30,317 203,420 88,017 220 220 9,029 (130,814) 326,036 (450,000) 81,082 84,442 90,111 (46,372) (123,964) 8,381,145 81212,404 2,059,470 58.471.256 $8.166.032 $1.935.506 Swimming Golf Recreation Gun Art Totals Pool Course Center Range Center 1982 1981 $ 5,678,104 $ 6,073,532 4.765.417 5.140,879 912,687 932,653 $ 72,377 $613,949 $291,827 $ 19,261 $54,113 4,086,521 3,612,200 72,377 613,949 291,827 19,261 54,113 4,999,208 4,544,853 88,140 487,173 300,060 28,846 91,418 5,060,601 4,354,540 (15,763) 126,776 (81233) (9,585) (37,305) (61,393) 190,313 33,796 46,109 83,474 81,836 40,504 61,020 61,020 5,174 4,378 7,680 6,938 22,530 22,530 8,503 89,042 2,591 3,655 11,515 25,121 346,875 220,299 18,774 5,503 18,774 5,503 (15,763) 108,002 (13,736) (9,585) (12,184) 24,277 29,906 58,871 220 149 24,497 88,926 260,985 321,686 (450,000) (400,000) 165,524 147,484 (229,175) (15,763) 108,002 (13,736) (9,585) (12,184) (23,491) (160,005) 253,554 279,824 73,211 47,612 101,114 19,408,334 19,568,339 $237c791 $387 a 826 59 475 8 02 88 930 $19.384.843 $19.408.334 -59- CITY OF EDINA, MINNESOTA PROPRIETARY FUND TYPE - ENTERPRISE FUNDS COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION Year Ended December 31, 1982 (With Comparative Totals for Year Ended December 31, 1981) Sources of working capital: Operations: Net income Item not requiring working capital: Depreciation Total from operations Contributions in aid to construction Disposal of property and equipment Reduction of loan to other funds Increase in deposits Reduction in notes receivable Water Sewer Liquor $ 9,029 $326,036 268,299 51,860 277,328 377,896 81,082 $ 84,442 35,187 4,973 Total sources of working capital 393,597 84,442 382,869 Uses of working capital: Operations: Net loss Item not requiring working capital: Depreciation Total from operations Additions to property and equipment Decrease in deposits Reduction of long -term debt Transfers to other funds Reduction of contributions in aid to construction Total uses of working capital 130,814 (119,221) 11,593 95,221 84,604 2,787 450,000 95,221 96,197 452,787 Net increase (decrease) in working capital $ 298.376 $ (11.755) 69 18) Elements of net increase (decrease) in working capital: Cash Investments Receivables Due from other funds Due from other governmental units Inventory Prepaid expenses Accounts payable Due to other funds Due to other governmental units Accrued liabilities 8 ds able $ 494,321 $(123,029) $ 65,481 (57,025) 68,476 (350) (150,931) (3,251) (3,564) 190,566 (418) (155,266) (1,356) 12,885 (2,887) 12,545 4,000 (59,426) 12,278 (3,670) (82,134) 1,994 (786) (70) (1,680) on pay Net increase (decrease) in working capital $ 298.376 $ (11.755) S(69_j_;8) -60- Swimming Golf Recreation Gun Art Totals Pool Course Center Range Center 1982 1981 $108,002 23,515 131,517 $ 3,500 131,517 3,500 $ 15,763 ( 571) 15,192 3,282 55,983 49 50,000 13,736 $ 9,585 $ 12,184 $ 443,067 $ 563,152 343,674 340,365 786,741 903,517 165,524 147,484 229,586 35,187 3,500 1,857 4,973 4,974 995,925 1,287,418 182,082 241,466 (3,205) (98) (1,610) (124,705) (120,173) (2,456) 10,531 9,487 10,574 57,377 121,293 9,638 5,806 257,321 441,484 49 60,000 110,000 145,000 450,000 400,000 229,175 18,474 106,032 80,169 9,487 16,380 874,747 1,336,952 18 474) 25 48 $ (76.669) 9 487) 16 380) $ 121.178 $ (49.534) $(16,913)$ 47,087 $(106,707) $(12,028) $(26,404) $ 321,808 $ 368,951 (163,319) (1,331) 1,591 26,285 37,646 37,379 (15,290) 2,590 (29,956) (560) (116) 2,736 (230) (6,242) 8,210 653 (2,973) (5,885) (2,456) (180) 10,458 (1,066) (1,639) 38 (197) (101000) 45,000 $(1� 8,474) 25x465;$ (76.669) 9 487) 16 380) -61- (170,446) 190,598 160,050 (153,064) (l, 356) 21,961 (41,211) (83,810) (5,400) 10,669 66,649 (111,843) (33,081) (384,676) (63,351) 32,490 35,000 $ 121.178 $ (49.534) CITY OF EDINA, MINNESOTA PROPRIETARY FUND TYPE - ENTERPRISE FUNDS SCHEDULE OF PROPERTY AND EQUIPMENT Year Ended December 31, 1982 Assets Balance Balance January 1, Additions Disposals December 31, Water Fund: Land $ 26,556 Land improvements 30,892 $ 749 Buildings and equipment 2,604,514 13,390 Distribution system 8,790,322 81,082 11,452,284 95,221 Sewer Fund: Land improvements 6,979 162 Sewer mains and lift stations 10,419,462 84,442 Furniture and fixtures 5,299 Vehicles 32,531 Equipment and machinery 114,042 10,578,313 84,604 Liquor Fund: Land 233,785 Land improvements 21,631 506 Building 727,488 2,281 Furniture, fixtures and equipment 294,071 3,385 Construction in progress 3,385 11280,360 6,172 Swimming Pool Fund: Land 10,000 Swimming pool and bathhouse 288,048 Filter system 28,006 Furniture and fixtures 6,001 3,282 Construction in progress 1,478 333,533 3,282 (Continued) -62- $ 3,385 3,385 $ 26,556 31,641 2,617,904 8,871,404 11,547,505 7,141 10,503,904 5,299 32,531 114,042 10,662,917 233,785 22,137 729,769 297,456 1,283,147 10,000 288,048 28,006 9,283 1.478 336,815 Accumulated depreciation Balance Balance January 1, Additions Disposals December 31, $ 16,538 1,798,116 2,705,912 4,520,566 4,373 2,052,649 2,435 18,554 61,472 2,139,483 5,551 170,974 151,505 328,030 5,235 5,235 $ 1,240 90,431 176,628 268,299 300 105,039 314 3,973 9.595 119,221 864 26,404 24,592 51,860 571 -63- $ 17,778 1,888,547 2,882,540 4,788,865 4,673 2,157,688 2,749 22,527 71.067 2,258,704 6,415 197,378 176,097 379,890 5,806 5,806 Net Book value $ 26,556 13,863 729,357 5,988,864 6,758,640 2,468 8,346,216 2,550 10,004 42,975 8,404,213 233,785 15,722 532,391 121,359 903,257 10,000 288,048 28,006 3,477 1.478 331,009 CITY OF EDINA, MINNESOTA PROPRIETARY FUND TYPE - ENTERPRISE FUNDS SCHEDULE OF PROPERTY AND EQUIPMENT (Continued) Year Ended December 31, 1982 Assets Balance Balance January 1, Additions Disposals December 31, Golf Course Fund: Golf course $ 820,300 Buildings 237,904 $ 4,735 Well 121,304 Parking lot and roadway 11,710 1,838 Equipment 230,861 490,410 2,133 1,422,079 55,983 2,133 Recreation Center Fund: Land improvements Buildings Furniture and equipment Gun Range Fund: Land improvements Building Furniture and equipment Art Center Fund: Land Land improvements Building Office furniture and equipment Machinery and equipment Construction in progress 52,174 962,164 68,697 1,083,035 16,290 47,532 1,839 65,661 15,000 1,937 110,758 9,638 9,638 119,809 $ 820,300 242,639 121,304 13,548 278.138 1,475,929 52,174 962,164 78,335 1,092,673 16,290 47,532 1,839 65,661 15,000 1,937 230,567 5,907 2,665 8,572 8,736 8,736 116,668 3,141 119,809 259,006 125,615 119,809 264,812 $26.474.271 $380,515 $125,327 226.729.459 -64- Accumulated depreciation Balance Balance January 1, Additions Disposals December 31, $ 168,447 $ 23,515 168,447 23,515 55,329 3,205 55,329 3,205 949 98 949 98 2,470 724 2,851 886 5,321 1,610 $2,133 2,133 $ 189,829 189,829 58,534 58,534 1,047 1,047 3,194 3,737 6,931 Net Book value $ 820,300 242,639 121,304 13,548 88,309 1,286,100 52,174 962,164 19,801 1,034,139 16,290 47,532 792 64,614 15,000 1,937 230,567 5,378 4,999 257,881 $7.223.360 JIU,33 9 $21,133 $7.689.606 $19.039.853 -65- CITY OF EDINA, MINNESOTA WATER FUND COMPARATIVE BALANCE SHEET December 31, 1982 and 1981 ASSETS Current assets: Cash Accounts receivable - customers Due from other funds Inventory Prepaid expenses Total current assets Property and equipment, less accumulated depreciation Other assets: Loan to other funds Total assets 1982 $1,254,392 159,735 243,317 10,381 4,282 1,672,107 1981 $ 760,071 216,760 394,248 10,799 4,282 1,386,160 6,758,640 6,931,718 64,813 $8,495,560 LIABILITIES AND RETAINED EARNINGS Current liabilities: Accounts payable Due to other funds Due to other governmental units Accrued payroll Total current liabilities Retained earnings: Invested in property and equipment Contributed Unreserved - Undesignated Total retained earnings Total liabilities and retained earnings -66- $ 17,079 5,425 1,800 24,304 1,082,548 5,676,093 1,712,615 8,471,256 $8,495,560 100,000 $8,417,878 $ 29,964 4,000 1,755 1,014 36,733 1,007,151 5,924,567 1,449,427 8,381,145 $8,417,878 CITY OF EDINA, MINNESOTA WATER FUND COMPARATIVE STATEMENT OF REVENUES, EXPENSES AND RETAINED EARNINGS Years Ended December 31, 1982 and 1981 -67- 1982 1981 Operating revenues: Water charges $ 999,975 $ 896,823 Sale of meters (less cost of meters sold) 2,698 6,860 Hydrant rental 15,138 Permits 2,045 1,881 Other 558 Total operating revenues 1,004,718 921,260 Operating expenses: Source of supply: Personal services 29,910 23,733 Other services and charges 272,826 202,577 Supplies 87,338 5,530 Distribution: Personal services 141,332 89,669 Other services and charges 65,449 9,342 Supplies 41,449 76,527 Purification: Personal services 1,113 2,963 Other services and charges 134 53 Supplies 3,260 36,313 General and administrative: Personal services 51,257 73,182 Other services and charges 63,549 80,321 Supplies 90 782 Depreciation 268,299 268,999 Total operating expenses 1,026,006 869,991 Operating income (loss) (21,288) 51,269 Other revenues: Interest on investments 30,317 33,869 Net income 9,029 85,138 Property and equipment contributed by special assessments 81,082 84,458 Net increase in retained earnings 90,111 169,596 Retained earning January 1 8,381,145 8,211,549 Retained earnings December 31 $8.471.256 $8,381,145 -67- CITY OF EDINA, MINNESOTA WATER FUND COMPARATIVE STATEMENT OF CHANGES IN FINANCIAL POSITION Years Ended December 31, 1982 and 1981 Sources of working capital: Operations: Net income Item not requiring working capital: Depreciation Total from operations Contributions in aid to construction Reduction of loan to other funds Total sources of working capital Uses of working capital: Additions to property and equipment Net increase in working capital Elements of net increase (decrease) in working capital: Cash Investments Accounts receivable Due from other funds Inventory Prepaid expenses Accounts payable Due to other funds Due to other governmental units Accrued payroll Net increase in working capital -68- 1982 1981 $ 9,029 $ 85,138 268,299 268,999 277,328 354,137 81,082 84,458 35,187 393,597 438,595 95,221 106,689 $ 298,376 $331,906 $ 494,321 $302,772 (163,319) (57,025) 2,007 (150,931) 152,995 (418) 1,265 (131) 12,885 (17,212) 4,000 44,848 (3,670) 3,222 (786) 5,459 $ 298,376 ,$331,906 CITY OF EDINA, MINNESOTA SEWER FUND COMPARATIVE BALANCE SHEET December 31, 1982 and 1981 ASSETS Total current assets Property and equipment, less accumulated depreciation 1981 $ (486,560) 625 328,100 1,278 3,251 (20,544) (153,306) 8,404,213 Other assets: Receivable - Metropolitan Waste Control Commission 481,305 Total assets $8,864,974 LIABILITIES AND RETAINED EARNINGS Current liabilities: Accounts payable 1982 Current assets: 63,520 Cash (deficit) $ (609,589) Receivables: 1,028 Accounts 217,637 Customers 396,942 Assessments 1,537 Due from other funds Due from other governmental units 190,566 Prepaid expenses 8,404,213 Total current assets Property and equipment, less accumulated depreciation 1981 $ (486,560) 625 328,100 1,278 3,251 (20,544) (153,306) 8,404,213 Other assets: Receivable - Metropolitan Waste Control Commission 481,305 Total assets $8,864,974 LIABILITIES AND RETAINED EARNINGS Current liabilities: Accounts payable $ 12,084 Due to other funds 63,520 Due to other governmental units 141,005 Accrued payroll 1,028 Total current liabilities 217,637 Other liability - deferred revenue 481,305 Total liabilities 698,942 Retained earnings: Invested in property and equipment Contributed 8,404,213 Unreserved - Undesignated (238,181) Total retained earnings 8,166,032 Total liabilities and retained earnings $8,864,974 o*0 8,438,830 521,466 $8,806,990 $ 9,197 4,094 58,871 958 73,120 521,466 594,586 27,397 8,411,433 (226,426) 8,212,404 $8,806,990 CITY OF EDINA, MINNESOTA SEWER FUND COMPARATIVE STATEMENT OF REVENUES, EXPENSES AND RETAINED EARNINGS Years Ended December 31, 1982 and 1981 Other revenues (expenses): Deferred charges 1982 1981 Operating revenues - sewer charges $2,030,276 $1,712,360 Operating expenses: 40,504 (58,871) Collection: 61,020 61,020 Personal services 136,130 122,979 Other services and charges 129,515 53,462 Supplies 19,935 30,064 Disposal - contractual services 1,781,763 1,463,988 Administrative and general: Personal services 20,039 30,062 Other services and charges 157,907 46,406 Supplies 8,212,404 37 Depreciation 119,221 115,830 Total operating expenses 2,364,510 1,862,828 Operating loss (334,234) (150,468) Other revenues (expenses): Deferred charges 7,680 6,938 Rental income 5,174 4,378 Prior year's disposal charges 40,504 (58,871) Current value credit - MWCC 61,020 61,020 Grant 89,042 Interest on investments 3,251 Total other revenues 203,420 16,716 Net loss (130,814) (133,752) Property and equipment contributed by special assessments 84,442 63,026 Net increase in retained earnings (46,372) (70,726) Retained earnings January 1 8,212,404 8,283,130 Retained earnings December 31 $861664032 $8.2124404 -70- CITY OF EDINA, MINNESOTA SEWER FUND COMPARATIVE STATEMENT OF CHANGES IN FINANCIAL POSITION Years Ended December 31, 1982 and 1981 1982 1981 Sources of working capital: Contributions in aid to construction $ 84,442 $ 63,026 Uses of working capital: Operations: Net loss 130,814 133,752 Item not requiring working capital: Depreciation (119,221) (115,830) 11,593 17,922 Additions to property and equipment 84,604 90,465 Total uses of working capital 96,197 108,387 Net decrease in working capital $ (11.755) (45,361) Elements of net increase (decrease) in working capital: Cash $(123,029) $ 41,477 Receivables 68,476 53,376 Due from other funds (3,251) 3,251 Due from other governmental units 190,566 (18,747) Prepaid expenses (115,352) Accounts payable (2,887) (2,154) Due to other funds (59,426) 48,659 Due to other governmental units (82,134) (58,871) Accrued payroll (70) 3,000 Net decrease in working capital (11,755) $ (45,361) -71- CITY OF EDINA, MINNESOTA LIQUOR FUND COMPARATIVE BALANCE SHEET December 31, 1982 and 1981 ASSETS Current assets: Petty cash and change funds Cash (deficit) Notes receivable Due from other funds Inventory Prepaid expenses Total current assets Property and equipment, less accumulated depreciation Other assets: Loan to other funds Notes receivable less current portion Total other assets Total assets 1982 $ 3,800 411,838 8,453 769,373 9,796 1,203,260 903,257 415,000 44,760 459,760 $2,566,277 LIABILITIES AND RETAINED EARNINGS Current liabilities: Accounts payable Due to other funds Due to governmental units Accrued payroll Total current liabilities Retained earnings: Invested in property and equipment Unreserved - Undesignated Total retained earnings Total liabilities and retained earnings -72- $ 119,199 469,167 34,130 8,275 630,771 903,257 1,032,249 1,935,506 $2,566,277 1981 $ 3,800 346,357 8,803 3,564 924,639 11,152 1,298,315 952,330 415,000 49,733 464,733 $2,715,378 $ 131,744 481,445 36,124 6,595 655,908 952,330 1,107,140 2,059,470 $2,715,378 CITY OF EDINA, MINNESOTA LIQUOR FUND COMPARATIVE STATEMENT OF REVENUES, EXPENSES AND RETAINED EARNINGS Year Ended December 31, 1982 (With Comparative Totals for Year Ended December 31, 1981) Total other revenue 21,598 36,121 30,078 87,797 92,208 Net income before transfers 65,628 $ 115,343 L==1=45 065 326,036 385,592 (Continued) -73- 1982 1981 50th Street Yorkdale Grandview Totals Totals Sales $1,243,337 $2,416,252 $2,018,515 $5,678,104 $6,073,532 Cost of sales 1,020,644 2,061,668 1,683,105 4,765,417 5,140,879 Gross profit 222,693 354,584 335,410 912,687 932,653 Operating expenses: Selling 90,666 160,702 123,483 374,851 357,727 Occupancy 38,170 55,239 41,423 134,832 126,503 Administrative 49,827 59,421 55,517 164,765 155,039 Total operating expenses 178,663 275,362 220,423 674,448 639,269 Operating income 44,030 79,222 114,987 238,239 293,384 Other revenues (expenses) : Interest 3,479 3,479 8,989 Discounts 17,494 36,335 29,645 83,474 81,836 Cash over (short) 37 (418) 161 (220) (149) Other 588 204 272 1,064 1,532 Total other revenue 21,598 36,121 30,078 87,797 92,208 Net income before transfers 65,628 $ 115,343 L==1=45 065 326,036 385,592 (Continued) -73- CITY OF EDINA, MINNESOTA LIQUOR FUND COMPARATIVE STATEMENT OF REVENUES, EXPENSES AND RETAINED EARNINGS (Continued) Year ended December 31, 1982 (With Comparative Totals for Year Ended December 31, 1981) Transfers to other funds: General Fund Park Fund Net decrease in retained earnings Retained earnings January 1 Retained earnings December 31 1982 1981 50th Street Yorkdale Grandview Totals Totals -74- $ 177,500 $ 70,000 272,500 330,000 450,000 400,000 (123,964) (14,408) 2,059,470 2,073,878 $1,935.506 $2.059,470 CITY OF EDINA, MINNESOTA LIQUOR FUND COMPARATIVE STATEMENT OF CHANGES IN FINANCIAL POSITION Years Ended December 31, 1982 and 1981 Sources of working capital: Operations: Net income Item not requiring working capital: Depreciation Total from operations Sale of property and equipment, less gain of $382 Reduction in notes receivable Total sources of working capital Uses of working capital: Transfers to other funds Additions to property and equipment Total uses of working capital Net decrease in working capital Elements of net increase (decrease) in working capital: Petty cash and change funds Cash Notes receivable Due from other funds Inventory Prepaid expenses Accounts payable Due to other funds Due to other governmental units Accrued payroll Net decrease in working capital -75- 1982 1981 $ 326,036 $ 385,592 51,860 49,310 377,896 434,902 411 4,973 4,974 382,869 440,287 450,000 400,000 2,787 79,400 452,787 479,400 $ (69,918) $ (39.113) $ (69,918) $ (39,113) $ 300 $ 65,481 376,422 (350) (348) (3,564) 3,564 (155,266) 65,534 (1,356) 3,640 12,545 (26,113) 12,278 (467,659) 1,994 (7,702) (11680) 13,249 $ (69,918) $ (39,113) CITY OF EDINA, MINNESOTA LIQUOR FUND COMPARATIVE SCHEDULE OF OPERATING EXPENSES Year Ended December 31, 1982 (With Comparative Totals for Year Ended December 31, 1981) Administrative: Salaries and wages Supplies Professional service Allocated expenses - Retirement, insur- ance, office supplies, etc. Data processing Mileage Miscellaneous 20,586 22,092 21,624 64,302 49,491 137 243 182 562 1,875 2,112 2,110 2,060 6,282 4,751 24,600 30,360 29,340 84,300 Totals 50th Street Yorkdale Grandview 1982 1981 Selling: 407 403 1,227 1,400 444 Salaries and wages $ 83,298 $148,635 $115,317 $347,250 $332,086 Supplies 4,248 9,223 5,293 18,764 17,378 Licenses and dues 380 131 121 632 1,104 Services contract 1,494 1,494 1,494 4,482 3,790 Direct promotion 1,246 1,219 1,258 3,723 3,369 90,666 160,702 123,483 374,851 357,727 Occupancy: Salaries and wages 1,143 953 624 2,720 4,023 Telephone 1,373 1,637 1,063 4,073 3,097 Supplies 1,778 710 264 2,752 3,801 Light and power 6,881 10,371 3,923 21,175 20,850 Maintenance, heating and cooling 167 217 208 592 862 Heat 1,269 3,908 2,277 7,454 4,527 Laundry and rug service 652 436 770 1,858 1,438 Burglar alarm 615 540 666 1,821 2,372 Insurance 4,857 9,033 7,407 21,297 18,689 Share of maintenance 2,355 550 2,905 359 Repair and maintenance 304 6,208 1,356 7,868 10,547 Depreciation 15,276 16,573 20,011 51,860 49,310 Rubbish hauling 1,080 2,575 2,575 6,230 4,810 Janitorial service 944 944 566 Water and sewer service 420 584 279 1,283 1,020 Miscellaneous 232 38,170 55,239 41,423 134,832 126,503 Administrative: Salaries and wages Supplies Professional service Allocated expenses - Retirement, insur- ance, office supplies, etc. Data processing Mileage Miscellaneous 20,586 22,092 21,624 64,302 49,491 137 243 182 562 1,875 2,112 2,110 2,060 6,282 4,751 24,600 30,360 29,340 84,300 74,100 1,531 3,503 1,358 6,392 19,202 417 407 403 1,227 1,400 444 706 550 1,700 4,220 49,827 59,421 55,517 164,765 155,039 Total operating expenses IZ15,362 $220,423 $67444488 639,269 -76- CITY OF EDINA, MINNESOTA SWIMMING POOL FUND COMPARATIVE BALANCE SHEET December 31, 1982 and 1981 ASSETS 1982 1981 Current assets: Cash (deficit) $(97,761) $ (80, 848) Accounts receivable 1,331 Due from other funds 5,000 5,000 Total current assets (92,761) (74,517) Property and equipment, less accumulated depreciation 331,009 328,298 Total assets $238.248 253 781 LIABILITIES AND RETAINED EARNINGS Current liability: Accounts payable $ 457 Retained earnings: Invested in property and equipment 330,481 Contributed 528 Unreserved - Undesignated (93,218) Total retained earnings 237,791 Total liability and retained earnings ffi23 -77- $ 227 327,770 528 (74,744) $253,554 x$253,781 CITY OF EDINA, MINNESOTA SWIMMING POOL FUND COMPARATIVE STATEMENT OF REVENUES, EXPENSES AND RETAINED EARNINGS Years Ended December 31, 1982 and 1981 1982 1981 Operating revenues: Season tickets $ 40,129 $ 39,337 General admissions 15,137 10,830 Rentals and instruction programs 5,000 5,000 Concessions (less cost of goods sold) 10,851 5,914 Other 1,260 1,331 Total operating revenues 72,377 62,412 Operating expenses: Salaries and wages 40,460 41,081 Supplies 7,922 8,046 Utilities 20,195 18,422 Insurance 672 672 Repair and maintenance 3,855 3,636 Professional service 100 100 Printing and office expense 1,808 2,167 Central services 5,460 5,220 Concessions - operating 6,339 5,763 Contractual services 640 660 Depreciation 571 571 Other 118 145 Total operating expenses 88,140 $ 86,483 Net loss (15,763) (24,071) Retained earnings January 1 253,554 277,625 Retained earnings December 31 X237.791 $253.554 -78- CITY OF EDINA, MINNESOTA SWIMMING POOL FUND COMPARATIVE STATEMENT OF CHANGES IN FINANCIAL POSITION Years Ended December 31, 1982 and 1981 Uses of working capital: Operations: Net loss Item not requiring working capital: Depreciation Total from operations Additions to property and equipment Total uses of working capital Net decrease in working capital Elements of in working Cash Accounts Due from Accounts net increase (decrease) capital: receivable other funds payable Net decrease in working capital -79- 1982 1981 $ 15,763 $ 24,071 ( 571) ( 571) 15,192 23,500 3,282 18,474 23,500 x(18,474) 23 500) $(16,913) $(30,954) (1,331) 1,331 5,000 (230) 1,123 CITY OF EDINA, MINNESOTA GOLF COURSE FUND COMPARATIVE BALANCE SHEET December 31, 1982 and 1981 ASSETS 1982 Current assets: Petty cash and change funds $ 800 Cash (deficit) (79,169) Investments 12,728 Accounts receivable 1,591 Total current assets (64,050) Property and equipment, less accumulated depreciation 1,286,100 Total assets $1,222,050 LIABILITIES AND RETAINED EARNINGS Current liabilities: Accounts payable Due to other funds Accrued payroll Bonds payable Total current liabilities Other liabilities: Loan from other funds Deposits Long -term liability - bonds payable, less current portion Total other liabilities Total liabilities Retained earnings: Invested in property and equipment Contributed Unreserved - Undesignated Total retained earnings Total liabilities and retained earnings -80- $ 10,425 22,826 1,631 50,000 84,882 545,000 4,342 200,000 749,342 834,224 461,583 29,517 (103,274) 387,826 $1,222,050 1981 $ 850 (126,306) 12,728 (112,728) 1,253,632 $1.140.904 $ 4,183 16,941 565 40,000 61,689 545,000 4,391 250,000 799,391 861,080 389,115 29,517 (138,808) 279,824 $1,140,904 CITY OF EDINA, MINNESOTA GOLF COURSE FUND COMPARATIVE STATEMENT OF REVENUES, EXPENSES AND RETAINED EARNINGS Years Ended December 31, 1982 and 1981 Operating expenses: Administration 118,612 115,771 Building - Club House and Pro Shop 32,431 38,685 Maintenance of course and grounds 241,589 202,129 Range and grill 71,026 71,807 Depreciation 23,515 22,056 Total operating expenses 487,173 450,448 Operating income 126,776 116,569 Other expense: Interest and paying agent fees (18,774) (24,147) Net income before transfers and equipment disposals 108,002 92,422 Disposal of non - depreciated equipment (134,685) Net increase (decrease) in retained earnings 108,002 (42,263) Retained earnings January 1 279,824 322,087 Retained earnings December 31 ffi3 1.A826 279 824 -81- 1982 1981 Operating revenues: Green fees $364,007 $341,851 Rental fees 66,093 60,760 Membership fees 43,465 38,541 Concessions (less cost of goods sold) 49,650 45,711 Range 88,046 75,911 Lessons 1,997 3,893 Other 691 350 Total operating revenues 613,949 567,017 Operating expenses: Administration 118,612 115,771 Building - Club House and Pro Shop 32,431 38,685 Maintenance of course and grounds 241,589 202,129 Range and grill 71,026 71,807 Depreciation 23,515 22,056 Total operating expenses 487,173 450,448 Operating income 126,776 116,569 Other expense: Interest and paying agent fees (18,774) (24,147) Net income before transfers and equipment disposals 108,002 92,422 Disposal of non - depreciated equipment (134,685) Net increase (decrease) in retained earnings 108,002 (42,263) Retained earnings January 1 279,824 322,087 Retained earnings December 31 ffi3 1.A826 279 824 -81- CITY OF EDINA, MINNESOTA GOLF COURSE FUND COMPARATIVE STATEMENT OF CHANGES IN FINANCIAL POSITION Years Ended December 31, 1982 and 1981 1982 1981 Sources of working capital: Operations: Net income $108,002 $ 92,422 Item not requiring working capital: Depreciation 23,515 22,056 Total from operations 131,517 114,478 Increase in deposits 1,857 Disposals of property and equipment - net 134,685 Total sources of working capital 131,517 251,020 Uses of working capital: Additions to property and equipment 55,983 53,067 Decrease in deposits 49 Reduction of long -term debt 50,000 40,000 Reduction of contributions in aid to construction 134,685 Total uses of working capital 106,032 227,752 Net increase in working capital $$ 2 23 268 Elements in net increase (decrease) in working capital: Petty cash and change $ (50) $ 450 Cash 47,137 17,685 Accounts receivable 1,591 (677) Inventory (1,297) Accounts payable (6,242) 2,479 Due to other funds (5,885) 1,571 Accrued payroll (1,066) 3,057 Bonds payable (101000) Net increase in working capital $ 25,485 23 268 -82- CITY OF EDINA, MINNESOTA GOLF COURSE FUND COMPARATIVE SCHEDULE OF OPERATING EXPENSES Years Ended December 31, 1982 and 1981 -83- 1982 1981 Administration: Personal services $ 66,145 $ 60,969 Contractual services 48,271 49,079 Commodities and supplies 3,814 3,701 Other charges 382 2,022 Total administration 118,612 115,771 Building - Club House and Pro Shop: Personal services 5,118 10,131 Utilities 15,217 16,277 Fuel 3,779 3,003 Supplies 5,272 5,125 Repairs - building 2,936 5,239 Contractual services 2,297 2,333 Other charges 3,928 2,795 Less amount charged to grill (6,116) (6,218) Total building - Club House and Pro Shop 32,431 38,685 Maintenance of course and grounds: Personal services 128,748 114,731 Contractual services 14,810 13,111 Commodities and supplies 61,113 41,203 Fixed charges 36,600 32,880 Other charges 318 204 Total maintenance 241,589 202,129 Range and grill: Personal services 56,615 58,594 Contractual services 6,373 6,346 Commodities and supplies 8,038 6,867 Total range and grill 71,026 71,807 Depreciation 23,515 22,056 Total operating expenses $487,173 $450,448 -83- CITY OF EDINA, MINNESOTA RECREATION CENTER FUND COMPARATIVE BALANCE SHEET December 31, 1982 and 1981 ASSETS Current assets: Petty cash and change funds Cash (deficit) Accounts receivable Due from other funds Due from other governmental units Inventory Total current assets 1982 1981 $ 700 $ 700 (642,205) (535,498) 28,385 2,100 31,056 46,346 2,445 32,401 334 450 (579,285) (453,501) Property and equipment, less accumulated depreciation 1,034,139 1,027,706 Other assets: Loan to other funds 300,000 300,000 Total assets $ 754,854 $ 874,205 LIABILITIES AND RETAINED EARNINGS Current liabilities: Accounts payable $ 22,342 $ 30,552 Due to other funds 6,764 4,308 Accrued payroll 2,773 815 Accrued interest 319 Bonds payable 60,000 105,000 Total current liabilities 91,879 140,994 Other liabilities: Loan from other funds 470,000 470,000 Deposits 3,500 Long -term liability - bonds payable, less current portion 130,000 190,000 Total other liabilities 603,500 660,000 Total liabilities 695,379 800,994 Retained earnings: Invested in property and equipment 358,487 247,054 Contributed 15,652 15,652 Reserved for debt retirement 52,300 52,300 Unreserved - Undesignated (366,964) (241,795) Total retained earnings 59,475 73,211 Total liabilities and retained earnings$ 754,854 $ 874,205 -84- CITY OF EDINA, MINNESOTA RECREATION CENTER FUND COMPARATIVE STATEMENT OF REVENUES, EXPENSES AND RETAINED EARNINGS Years Ended December 31, 1982 and 1981 Other revenues (expenses): Gain on sale of equipment 8,000 Interest and paying agent fees (51503) (5,759) Total other revenues (expenses) (5,503) 2,241 Net loss before equipment disposals (13,736) (74,080) Disposal of non - depreciated equipment (94,490) Net decrease in retained earnings (13,736) (168,570) Retained earnings January 1 73,211 241,781 Retained earnings December 31 ffi 5� 73 211 -85- 1982 1981 Operating revenues: Rental fees $216,719 $196,503 Season ticket sales 27,950 25,516 Daily skating fees 7,978 8,700 Admissions 20,835 18,049 Concessions (less cost of goods sold) 6,501 8,138 Vending machine commissions 7,119 7,778 Services - skate sharpening 4,555 3,910 Other 170 792 Total operating revenues 291,827 269,386 Operating expenses: Personal services 115,941 116,408 Contractual services 114,708 104,823 Commodities, supplies and repairs 37,046 89,001 Depreciation 3,205 2,355 Other charges 29,160 33,120 Total operating expenses 300,060 345,707 Operating loss (8,233) (76,321) Other revenues (expenses): Gain on sale of equipment 8,000 Interest and paying agent fees (51503) (5,759) Total other revenues (expenses) (5,503) 2,241 Net loss before equipment disposals (13,736) (74,080) Disposal of non - depreciated equipment (94,490) Net decrease in retained earnings (13,736) (168,570) Retained earnings January 1 73,211 241,781 Retained earnings December 31 ffi 5� 73 211 -85- CITY OF EDINA, MINNESOTA RECREATION CENTER FUND COMPARATIVE STATEMENT OF CHANGES IN FINANCIAL POSITION Years Ended December 31, 1982 and 1981 -86- 1982 1981 Sources of working capital: Disposal of property and equipment $ 94,490 Increase in deposits $ 3,500 Uses of working capital: Operations: Net loss 13,736 74,080 Item not requiring working capital: Depreciation (3,205) (2,355) Total from operations 10,531 71,425 Additions to property and equipment 9,638 35,082 Reduction of long -term debt 60,000 105,000 Reduction of contribution in aid to construction 94,490 Total uses of working capital 80,169 306,297 Net decrease in working capital (76,669) $(211,807) Elements of net increase (decrease) in working capital: Cash $(106,707) $(264,504) Accounts receivable 26,285 (18,310) Due from other funds (15,290) 25,633 Due from other governmental units (29,956) 28,366 Inventory (116) 244 Accounts payable 8,210 11,464 Due to other funds (2,456) (1,442) Accrued payroll (1,958) 6,128 Accrued interest 319 614 Bonds payable 45,000 Net decrease in working capital $ (76,669) $(211,807) -86- CITY OF EDINA, MINNESOTA GUN RANGE FUND COMPARATIVE BALANCE SHEET December 31, 1982 and 1981 ASSETS Current assets: 1982 Cash (deficit) $(32,915) Due from other funds 3,000 Due from other governmental units 3,840 Inventory 250 Total current assets (25,825) Property and equipment, less accumulated depreciation 64,614 Total assets 38 LIABILITIES AND RETAINED EARNINGS Current liabilities: Accounts payable Due to other funds Accrued payroll Total current liabilities Retained earnings: Invested in property and equipment Contributed Unreserved - Undesignated Total retained earnings $ 582 180 18,638 45,976 (26, 587) 38,027 Total liabilities and retained earnings 38.789 -87- 1981 $(20,887) 410 4,400 250 (15,827) 64,712 $ 48.885 $ 1,235 38 1,273 18,736 45,976 (17,100) 47,612 $ 48.885 CITY OF EDINA, MINNESOTA GUN RANGE FUND COMPARATIVE STATEMENT OF REVENUES, EXPENSES AND RETAINED EARNINGS Years Ended December 31, 1982 and 1981 -88- 1982 1981 Operating revenues: Range fees $16,204 $19,692 Sale of ammunition 2,830 3,582 Concessions (less cost of goods sold) (193) 632 Other 420 561 Total operating revenues 190,261 24,467 Operating expenses: Personal services 15,298 13,086 Contractual services 3,583 5,039 Commodities and supplies 9,772 7,839 Depreciation 98 127 Other 95 440 Total operating expenses 28,846 26,531 Net loss (9,585) (2,064) Retained earnings January 1 47,612 49,676 Retained earnings December 31 38 027 47 612 -88- CITY OF EDINA, MINNESOTA GUN RANGE FUND COMPARATIVE STATEMENT OF CHANGES IN FINANCIAL POSITION Years Ended December 31, 1982 and 1981 1982 1981 Uses of working capital: Operations: Net loss $ 9,585 $ 2,064 Item not requiring working capital: Depreciation (98) (127) Total from operations 9,487 1,937 Net decrease in working capital Elements of net increase (decrease) in working capital: Cash $(12,028) $ (2,661) Due from other funds 2,590 155 Due from other governmental units (560) 1,050 Accounts payable 653 (770) Due to other funds (180) Accrued payroll 38 289 Net decrease in working capital -89- CITY OF EDINA, MINNESOTA ART CENTER FUND COMPARATIVE BALANCE SHEET December 31, 1982 and 1981 ASSETS 1982 1981 Current assets: Petty cash and change funds $ 175 $ 100 Cash (deficit) (171,929) (145,450) Inventory 8,409 5,673 Total current assets (163,345) (139,677) Property and equipment, less accumulated depreciation 257,881 253,685 Total assets ,$ 94,536 $ 114,008 LIABILITIES AND RETAINED EARNINGS Current liabilities: Accounts payable $ 5,190 $ 2,217 Due to other funds 195 10,653 Accrued payroll 221 24 Total current liabilities 5,606 12,894 Retained earnings: Invested in property and Contributed Unreserved - Undesignated Total retained ea Total liabilities equipment 225,574 221,378 32,307 32,307 (168,951) (152,571) rnings 88,930 101,114 and retained earnings 94,536 114,008 -90- CITY OF EDINA, MINNESOTA ART CENTER FUND COMPARATIVE STATEMENT OF REVENUES, EXPENSES AND RETAINED EARNINGS Years Ended December 31, 1982 and 1981 Other revenues: Donations 22,530 8,503 Other 2,591 1,983 Total other revenues 25,121 10,486 Net loss (12,184) (7,499) Retained earnings January 1 101,114 108,613 Retained earnings December 31 $ 88,930 $10 -91- 1982 1981 Operating revenues: Memberships $ 5,066 $ 5,452 Registration fees 41,274 45,590 Retail sales, less cost of goods sold 7,773 4,256 Total operating revenues 54,113 55,298 Operating expenses: Administration: Personal services 26,970 21,546 Contractual services 3,336 2,758 Commodities 5,730 3,958 Other charges 3,780 3,360 39,816 31,622 Occupancy: Personal services 2,933 2,171 Contractual services 8,598 7,704 Commodities 2,249 3,175 13,780 13,050 Class costs 3,512 Instructors - personal services 32,700 27,321 Depreciation 1,610 1,290 Total operating expenses 91,418 73,283 Operating loss (37,305) (17,985) Other revenues: Donations 22,530 8,503 Other 2,591 1,983 Total other revenues 25,121 10,486 Net loss (12,184) (7,499) Retained earnings January 1 101,114 108,613 Retained earnings December 31 $ 88,930 $10 -91- CITY OF EDINA, MINNESOTA ART CENTER FUND COMPARATIVE STATEMENT OF CHANGES IN FINANCIAL POSITION Years Ended December 31, 1982 and 1981 -92- 1982 1981 Uses of working capital: Operations: Net loss $ 12,184 $ 7,499 Item not requiring use of working capital: Depreciation (1,610) (1,290) Total from operations 10,574 6,209 Additions to property and equipment 5,806 76,781 Total uses of working capital 16,380 82,990 Net decrease in working capital $(16.380) 82 990) Elements of net increase (decrease) in working capital: Cash $(26,404) $ (72, 036) Inventory 2,736 903 Accounts payable (2,973) (1,898) Due to other funds 10,458 (10,653) Accrued payroll (197) 694 Net decrease in working capital 6 380) $(82.990) -92- CITY OF EDINA, MINNESOTA COMPARATIVE STATEMENT OF GENERAL FIXED ASSETS December 31, 1982 and 1981 General fixed assets: Land Land improvements Buildings Furniture and fixtures Vehicles Tools Election equipment Engineering equipment Fire equipment Highway equipment Park equipment Police equipment Miscellaneous equipment Traffic signals equipment Parks Construction in progress Investment in general fixed assets: General Fund Park Fund -93- 1982 $ 2,281,017 1,482,857 1,869,340 278,340 199,222 5,812 131,320 49,596 495,960 1,219,951 1981 $ 2,281,117 1,405,617 1,869,340 262,124 170,554 5,812 131,320 49,596 492,770 1,133,403 243,925 229,691 323,647 312,346 121,231 126,475 91,706 91,706 2,810,772 2,462,435 1,194 $11,605,890 $11,024,306 $ 5,191,465 $ 5,054,785 6,414,425 5,969,521 $11,605.890 $11,024,306 CITY OF EDINA, MINNESOTA COMPARATIVE STATEMENT OF GENERAL LONG -TERM DEBT December 31, 1982 and 1981 Amount available for payment of general long -term debt: Amount available in general debt service funds General long -term debt payable and fund balance: General long -term debt payable -94- 1982 $6,400,000 $6,400,000 1981 $6,500,000 $6,500,000 SECTION III STATISTICAL SECTION CITY OF EDINA, MINNESOTA SCHEDULE OF CASH, INVESTMENTS AND SECURITY FOR DEPOSITS December 31, 1982 Face amount of securities pledged Cash and by depository investments as collateral First Edina National Bank, Edina, Minnesota: Checking account $ 33,171 Savings account 8,996 Certificates of deposit 400,000 442,167 $1.010,000 First Southdale National Bank, Edina, Minnesota: Deposit account $ 53,206 Payroll account 26,833 80,089 $1,480,000 Southwest Fidelity State Bank, Edina, Minnesota: Certificates of deposit 100,000 684,921 First National Bank of Minneapolis, Minneapolis, Minnesota: Certificates of deposit 900,000 U.S. Government Securities 1,267,177 2,167,177 $1,055,000 City of Edina bonds 12,729 Land 24,500 Donated securities 995 Petty cash and change funds 6,025 Total cash and investments $2,833,682 Additional coverage of $100,000 for demand and time deposits is provided at each depository by the Federal Deposit Insurance Corporation. -95- CITY OF EDINA, MINNESOTA COMBINED SCHEDULE OF INDEBTEDNESS December 31, 1982 Final 1982 percent Interest Issue maturity paid by tax rate date date levies Bonded indebtedness: General obligation bonds: General Obligation Redevelopment Bonds 5.30 -6.50 12/1/75 12/1/93 100% General Obligation Tax Increment Bonds, Series 1981 9.5 -11.00 10/1/81 10/1/93 None Special assessment bonds: Improvement Bonds of 1975 Improvement Bonds of 1977 Temporary Improvement Bonds of 1981 (Refinancing Issue) Revenue bonds: Golf Course Bonds Recreation Center Series A Recreation Center Series B Recreation Center Series D Total bonded indebtedness 5.30 -5.50 12/1/75 12/1/83 4.25 -4.40 11/1/77 11/1/86 9.5 10/1/81 10/1/84 None 3.20 -3.50 12/1/63 12/1/87 3.20 -3.30 9/1/65 9/1/82 3.00 9/1/65 9/1/82 5.20 -5.25 11/1/78 11/1/85 -96- None Indebtedness Authorized Due in 1983 and issued Redeemed Outstanding Principal Interest $ 2,200,000 $ 300,000 $ 1,900,000 $ 100,000 $ 117,250 4,500,000 4,500,000 456,975 6,700,000 300,000 6,400,000 100,000 574,225 3,500,000 3,000,000 500,000 500,000 27,500 2,700,000 1,500,000 1,200,000 300,000 52,200 4,200,000 41200,000 399,000 10,400,000 4,500,000 5,900,000 800,000 478,700 825,000 575,000 250,000 50,000 8,650 300,000 300,000 150,000 150,000 370,000 180,000 190,000 60,000 9,915 1,645,000 1,205,000 440,000 110,000 18,565 $18.745.000 $6.005,000 $12.740.000 $1.010.000 $1.071.490 -97- CITY OF EDINA, MINNESOTA SCHEDULE OF CHANGES IN BONDED INDEBTEDNESS Year Ended December 31, 1982 Balance Balance January 1 Redeemed December 31 General obligation bonds $ 6,500,000 $ 100,000 $ 6,400,000 Special assessment bonds 6,700,000 800,000 5,900,000 Revenue bonds: Golf Course 290,000 40,000 250,000 Recreation Center 295,000 105,000 190,000 $13.785,000 $14045,000 $12.740,000 BONDS PAYABLE December 31, 1982 4,500,000 Total general obligation bonds 6,400,000 -98- Issue Interest Maturity Principal date rate date amount General obligation bonds: $2,200,000 General Obligation Redevelopment Bonds 12/1/75 $100,000 per year 5.50 -5.90 12/1/83 -86 $ 400,000 $200,000 per year 6.00 -6.40 12/1/87 -91 1,000,000 $250,000 per year 6.50 12/1/92 -93 500,000 1,900,000 $4,500,000 General Obligation Tax Increment Bonds, Series 1981 10/1/81 $450,000 per year 9.50 10/1/84 -85 900,000 October 1, 1986 9.70 10/1/86 450,000 October 1, 1987 9.85 10/1/87 450,000 October 1, 1988 10.00 10/1/88 450,000 October 1, 1989 10.20 10/1/89 450,000 October 1, 1990 10.40 10/1/90 450,000 October 1, 1991 10.60 10/1/91 450,000 October 1, 1992 10.80 10/1/92 450,000 October 1, 1993 11.00 10/1/93 450,000 4,500,000 Total general obligation bonds 6,400,000 -98- CITY OF EDINA, MINNESOTA BONDS PAYABLE (Continued) December 31, 1982 Special assessment bonds: $3,500,000 Improvement Bonds of 1975 $500,000 - December 1, 1983 $2,700,000 Improvement Bonds of 1977 $300,000 per year $4,200,000 Temporary Improvement Bonds of 1981 (Refinancing Issue) $4,200,000 Total special assessment bonds Revenue bonds: $825,000 Golf Course Bonds $50,000 per year $370,000 Recreation Center Series D $60,000 per year $70,000 per year Total revenue bonds Total bonds payable Issue Interest date rate 12/1/75 11/1/77 10/1/81 Maturity date Principal amount 5.5 12/1/83 $ 500,000 4.30 -4.40 11/1/83 -86 1,200,000 9.50 10/1/84 4,200,000 5,900,000 12/1/63 3.40 -3.50 12/1/83 -87 250,000 11/1/78 -99- 5.20 11/1/83 -84 5.25 11/1/85 120,000 70,000 190,000 440,000 $12.740,000 CITY OF EDINA, MINNESOTA DEBT SERVICE REQUIREMENTS December 31, 1982 $6.400.000 $3.870,275 $5.900.000 $95 $440,000 $46,485 -100- General Special Year Obligation Bonds Assessment Bonds Revenue Bonds ended Principal Interest Principal Interest Principal Interest 1983 $ 100,000 $ 574,225 $ 800,000 $478,700 $110,000 $18,565 1984 550,000 568,725 4,500,000 438,300 110,000 13,745 1985 550,000 520,375 300,000 26,400 120,000 8,925 1986 550,000 471,875 300,000 13,200 50,000 3,500 1987 650,000 422,325 50,000 1,750 1988 650,000 366,000 1989 650,000 308,800 1990 650,000 250,500 1991 650,000 191,100 1992 700,000 130,600 1993 700,000 65,750 $6.400.000 $3.870,275 $5.900.000 $95 $440,000 $46,485 -100- CITY OF EDINA, MINNESOTA TAX LEVIES AND COLLECTIONS SPECIAL ASSESSMENT LEVIES AND COLLECTIONS Percentage Collection Percentage Collection of total of current of levy of prior Total collections Year Total levy year's levy collected year's levy collections to levy 1976 $2,950,564 $2,844,997 96.42% $ 60,903 $2,905,900 98.49% 1977 3,226,450 3,152,345 97.70 80,716 3,233,061 100.20 1978 3,544,897 3,474,459 98.01 68,652 3,543,111 99.95 1979 3,655,500 3,604,948 98.62 26,669 3,631,617 99.35 1980 4,128,322 4,083,521 98.91 35,791 4,119,312 99.78 1981 4,452,156 4,398,470 98.79 13,566 4,412,036 99.10 1982 4,855,622 4,785,501 98.56 43,088 4,828,589 99.44 SPECIAL ASSESSMENT LEVIES AND COLLECTIONS -101- Percentage Collection Percentage Collection of total of current of levy of prior Total collections Year Total levy year's levy collected year's levy collections to levy 1976 $1,371,621 $1,223,649 89.21% $134,421 $1,358,070 99.01% 1977 1,398,780 1,237,843 88.49 213,757 1,451,600 103.78 1978 1,304,745 1,210,181 92.75 127,406 1,337,587 102.52 1979 1,275,260 1,237,769 97.06 76,705 1,314,474 103.07 1980 1,127,933 1,092,310 96.84 66,910 1,159,220 102.77 1981 1,571,590 1,452,879 92.45 25,566 1,478,445 94.07 1982 1,547,754 1,409,504 91.07 35,996 1,445,500 93.39 -101- CITY OF EDINA, MINNESOTA ASSESSED VALUATION, TAX LEVIES AND MILL RATES (Shown by Year of Tax Collectibility) Assessed valuation Increment valuation Contribution to fiscal disparities pool Received from fiscal disparities pool Taxable valuation Tax levies: General Fund Park Fund Bonds and interest Fire protection Total Mill rates: General Fund Park Fund Bonds and interest Fire protection Total 1979 $416,601,475 (2,049,949) 1980 $436,802,624 (6,083,511) (13,851,121) (15,346,797) 3,407,244 $404.107.649 $ 2,920,038 403,696 316,009 15,757 $ 3.655.500 7.226 .999 .782 .039 .046 -102- 4,125,589 $419.497.905 $ 3,415,958 448,187 247,977 16,200 $ 4.128.322 8.134 1.079 .597 .039 9 1981 $504,778,611 (7,973,641) (19,175,260) 5,206,302 $482.836.012 $ 3,858,796 576,934 16,426 $ 4.452.156 7.986 1.194 .034 1982 1983 $564,735,561 $635,301,752 (10,665,671) (11,920,193) (26,853,542) 8,292,333 $535.5084681 $ 4,221,447 634,175 $ 4.855.622 7.881 1.184 9.065 (34, 675, 960) 10,609,741 $599.315.340 $ 4,770,102 653,272 $ 5.423.374 7.959 1.090 -103-