HomeMy WebLinkAbout1983 Financial StatementsMai
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CITY OF EDINA, MINNESOTA
FINANCIAL STATEMENTS WITH ACCOMPANYING INFORMATION
YEAR ENDED DECEMBER 31, 1983
and
REPORT OF CERTIFIED PUBLIC ACCOUNTANTS
m
ai
�Iurdman
CITY OF EDINA, MINNESOTA
FINANCIAL STATEMENTS WITH ACCOMPANYING INFORMATION
YEAR ENDED DECEMBER 31, 1983
and
REPORT OF CERTIFIED PUBLIC ACCOUNTANTS
CITY OF EDINA, MINNESOTA
ELECTED AND APPOINTED OFFICIALS
DECEMBER 31, 1983
Elected:
Mayor - C. Wayne Courtney
Council:
A. Charles Bredesen III
Frederick S. Richards
June A. Schmidt
Leslie C. Turner
Appointed:
Manager - Kenneth E. Rosland
Treasurer and Finance Director - J. N. Dalen
Clerk - Marcella M. Daehn
* First official business day
Term of
office expires
Januarv*
1985
1986
1986
1985
1985
CITY OF EDINA, MINNESOTA
FINANCIAL STATEMENTS WITH ACCOMPANYING INFORMATION
Year Ended December 31, 1983
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
Combining and individual fund financial statements:
General Fund:
Comparative balance sheet
32
Statement of revenues, expenditures and fund balance
33
Statement of revenues
34
Statement of expenditures
36
Schedule of central services expenditures
43
Special revenue funds:
Combining balance sheet
44
Combining statement of revenues, expenditures
and fund balance
45
Statements of revenues, expenditures and fund balance:
Revenue Sharing Fund
46
Park Fund
47
CITY OF EDINA, MINNESOTA
FINANCIAL STATEMENTS WITH ACCOMPANYING INFORMATION
Year Ended December 31, 1983
TABLE OF CONTENTS
(Continued)
Page
Individual fund financial statements: (continued)
Debt service funds:
Combining balance sheet
49
Combining statement of revenues, expenditures and
fund balance
50
Capital projects funds - Housing and Redevelopment
Authority of Edina:
Balance sheet
51
Statement of revenues, expenditures and
fund balance
52
Special assessment funds:
Combining balance sheet
53
Combining statement of revenues, expenditures and
fund balance
55
Proprietary Fund Type - enterprise funds:
Combining balance sheet
57
Combining statement of revenues, expenses and retained
earnings
61
Combining statement of changes in financial position
65
Schedule of property and equipment
69
Water Fund:
Comparative balance sheet
73
Comparative statement of revenues, expenses and retained
earnings
74
Comparative statement of changes in financial position
75
Sewer Fund:
Comparative balance sheet
76
Comparative statement of revenues, expenses and retained
earnings
77
Comparative statement of changes in financial position
78
Liquor Fund:
Comparative balance sheet
79
Comparative statement of revenues, expenses and retained
earnings
80
Comparative statement of changes in financial position
82
Comparative schedule of operating expenses
83
Swimming Pool Fund:
Comparative balance sheet
84
Comparative statement of revenues, expenses and retained
earnings
85
Comparative statement of changes in financial position
86
CITY OF EDINA, MINNESOTA
FINANCIAL STATEMENTS WITH ACCOMPANYING INFORMATION
Schedule of cash, investments and security for deposits 100
Combined schedule of indebtedness 101
Schedule of changes in bonded indebtedness 103
Bonds payable 103
Debt service requirements 105
Tax levies and collections 106
Special assessment levies and collections 106
Assessed valuation, tax levies and mill rates 107
Year Ended December 31, 1983
TABLE OF CONTENTS
(Continued):
Page
Individual fund
financial statements: (continued)
Golf Course Fund:
Comparative
balance sheet
87
Comparative
statement of revenues, expenses and retained
earnings
88
Comparative
statement of changes in financial position
89
Comparative
schedule of operating expenses
90
Recreation Center Fund:
Comparative
balance sheet
91
Comparative
statement of revenues, expenses and retained
earnings
92
Comparative
statement of changes in financial position
93
Gun Range Fund:
Comparative
balance sheet
94
Comparative
statement of revenues, expenses and retained
earnings
95
Comparative
statement of changes in financial position
96
Art Center. Fund:
Comparative
balance sheet
97
Comparative
statement of revenues, expenses and retained
earnings
98
Comparative
statement of changes in financial position
99
SECTION III
STATISTICAL SECTION
Schedule of cash, investments and security for deposits 100
Combined schedule of indebtedness 101
Schedule of changes in bonded indebtedness 103
Bonds payable 103
Debt service requirements 105
Tax levies and collections 106
Special assessment levies and collections 106
Assessed valuation, tax levies and mill rates 107
SECTION I
INTRODUCTORY SECTION
COMMENTS
The City of Edina operates under "Optional Plan B" as defined in the
State of Minnesota Statutes. Optional Plan B is known as the
council- manager plan. Under this plan, as specified in the Statutes,
"The council shall exercise the legislative power of the city and
determine all matters of policy. The city manager shall be the head of
the administrative branch of the city government and shall be
responsible to the council for the proper administration of all affairs
relating to the city." The Council is composed of five members,
including the mayor, who is chairman. The city manager is appointed by
the Council.
General Fund
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:
1983 1982
Budget Actual— Budget Actual
Total revenues $7,770,638 $7,880,875 $6,951,087 $6,884.149
Total expenditures $7,770,638 $7,679,077 $6,951,087 $6,853,480
During 1983, the fund balance increased $201,798 to $1,402,754 at
December 31, 1983. $661,707 of the fund balance has been reserved for
various reasons as explained in the Notes to Financial Statements,
leaving an unreserved fund balance of $741,047.
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.
-I-
Special Revenue Funds (Continued)
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 1983 was $190,869. During 1983, transfers of
$225,000 were made to the General Fund, leaving a fund balance of
$303,153 at December 31, 1983.
Park Fund - The Park Fund was established to account for the
administration, maintenance and improvement of City parks.
Expenditures exceeded revenue by $50,766 during 1983, leaving a fund
balance (deficit) of $(69,798) at December 31, 1983.
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, 1983 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, 1983.
Redevelopment Bond Fund - The Redevelopment Bond Fund was established
to account for debt retirement of the 1975 and 1981 Redevelopment Bonds.
Capital Project Funds
The capital project funds are used to account for the acquisition or
construction of public redevelopment and housing projects undertaken
within the City which comes under the statutory authority of the
Housing and Redevelopment Authority of Edina, Minnesota.
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 generral 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:
1983. 1982 1981
Operating revenues $950,264 $1,004,718 $921,260
Operating expenses 986,144 1,0.26,006 8690,991
Operating income (loss) (35,880) (21,288) 51,269
Other revenues 35,108 30,317 33,869
Net income (loss) $ (772) $ 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
Net loss
1983 1982 1981
$ 2,121,669 $2,030,276 $1,712,360
2,350,572 2,364,510 1,862,828
(228,903) (334,234) (150,468)
128,668 203,420 16,716
(100,235) $ (130,814) $ (133.752)
-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.
1983 1982 1981
Percent Percent
Amount of sales Amount of sales Amount
50th Street:
Sales $1,174,141 100.00% $1,243,337 100.00% $1,302,088
Percent
of sales
100.00%
Cost of
goods sold 967,349 82.39 1,020,644 82.09 1,100,507 84.52
Gross profit 206,792 17.61 222,693 17.91 201,581 15.48
Operating
expenses 179,420 15.28 178,663 14.37 166,698 12.80
Operating
income $ 27,372 2.33% $ 44,030 3.541 $ 34,883 2.68%
Yorkdale:
Sales
$2,311,001
100.00%
$2,416,252
100.00%
$2,616,193
100.00%
Cost of
goods sold
1,938,382
83.88
2,061,668
85.33
2,187,151
83.60
Gross profit
372,619
16.12
354,584
14.67
429,042
16.40
Operating
expenses
279,075
12.08
275,362
11.39
255,393
9.76
Operating
income
$ 93,544
4.OL4%
$ 79,222
3.28
$ 173,649
6.64$
Grandview:
Sales
$2,003,012
100.00%
$2,018,515
100.00%
$2,155,251
100.00%
Cost of
goods sold
1,661,253
82.94
1,683,105
83.38
1,853,221
85.99
Gross profit
341,759
17.06
335,410
16.62
302,030
14.01
Operating
expenses 229,191 11.44 220,423 10.92 217,178 10.08
Operating
income $ 112,568 5_62! $ 114,987 5.70% $ 84,852 3.93%
During 1983, net income for all stores before transfers was $311,289.
Transfers to other funds during the year were $450,000 or 144.56% of
net income. The $450,000 transfer was the equivalent of an .75 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:
1983 1982 1981
Operating revenues $ 78,484 $ 72,377 $ 62,412
Operating expenses 100,307 102,473 100,816
Net loss
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, $200,000 of which remain
outstanding at December 31, 1983. Shown below is a condensed summary
of operations for the last three years:
Operating revenues
Operating expenses
Operating income
Other expenses
Net income
1983
1982
1981
$620,446
$613,949
$567,017
513,815
515,558
468,903
106,631
98,391
98,114
14,966
18,774
24,147
1 5
$ 79,617
$ 73.967
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, $130,000 of which remain outstanding at
December 31, 1983. 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-
1983 1982 1981
$304,723 $291,827 $ 269,386
349,254
347,133
388,024
(44,531)
(55,306)
(118,638)
(3,635)
(5,503)
2,241
09)
$(116.397)
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:
1983 1982 1981
Operating revenues $17,382 $ 19.,261 .$24,467
Operating expenses 26,233 31,722 29,407
Net (loss) $(8,851) $(12,461)
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:
1983 1982 1981
Operating revenues $ 63,434 $ 54,113 $ 55,298
Operating expenses 107,203 102,285 8.0,997
Operating loss (43,769) (48,172) (25,699)
Other revenues 11,081 25,121 10,486
Net loss
General Fixed Assets
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-
M
ai
urdman
CertgLad Pubic Accouitants
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, 1983, as shown on pages 2
through 31. Our examination was made in accordance with generally
accepted auditing standards and, accordingly, included such tests
of the accounting records and such other auditing procedures as we
considered necessary in the circumstances.
In our opinion, the combined financial statements referred
to above present fairly the financial position of the City of
Edina, Minnesota at December 31, 1983, 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, after giving retroactive effect to the
change, with which we concur, 'in accounting for depreciation for
certain proprietary fund property and equipment as described in
Note 2 to the financial statements.
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 32 through 108 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 and in our
opinion, is fairly stated in all material respects in relation to
the combined financial statements taken as a whole.
1�� �/w4rx�
May 31, 1984
KMG Klynveld Main Goerdeler - Intemational firm
CITY OF EDINA, MINNESOTA
COMBINED BALANCE SHEET
ALL FUND TYPES AND ACCOUNT GROUPS
December 31, 1983
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 Edina Housing and
Redevelopment Authority fund
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
Land and public improvements -HRA
Amount available in debt service
funds
Amount to be provided
ASSETS
Governmental Fund Types
Special
General Revenue
Debt Capital
Service Projects
$1,090,482 $141,566 $415,512 $ 1,675
15,495
88,615 11,433 423
76,623
(76,623)
116,062 26,087
368,123 17,974 9,599
174,491 233,550
84,992 109,668
3,434 135,944
10,000
Total assets $1,951,694 $442,672 $659,084 $ 1,675
(Continued)
-2-
Proprietary
Fund Type
Special
Assessment Enterprise
$(1,310,827) $ (103,890)
4,077,670 12,728
1,615 612,056
58,143
184,559 2,262
7,027,186
(522,968)
1,163,606 1,112,170
2,889,668
576,096
3,692
537,202
47,891
725,527
12,058
17,729,971
Account
groups
General
General
fixed
long -term
assets
debt
$12,466,604
8,995,508
Total
(Memorandum only)
1983 1982
$ 234,518 $ 1,532,497
4,105,893 1,305,401
100,471
48,090
76,623
95,062
(76,623)
(95,062)
755,820
662,684
58,143 15,705
186,821 167,848
7,022,186 7,892,270
(522,968) (547,661)
2,671,472 2,202,913
408,041
198,352
537,202
47,891
139,378
735,527
12,058
2,889,668
576,096
17,729,971
12,466,604
8,995,508
736,560
879,665
481,305
53,213
213,132
798,747
14,078
2,513,001
573,815
18,015,262
11,605,890
8,995,508
$ 233,550 233,550 233,550
6,403,836 6,403,836 6,166,450
$14,144,748 $20,691,667 $21,462,112 $6,637,386 $65,991,038 $64,559,923
-3-
CITY OF EDINA, MINNESOTA
COMBINED BALANCE SHEET
ALL FUND TYPES AND ACCOUNT GROUPS
(Continued)
December 31, 1983
LIABILITIES AND FUND EQUITY
Liabilities:
Accounts payable
Contracts payable
Due to other funds
Due to other governmental units
Accrued expenses
Deposits
Deferred revenue
Vacation pay payable
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
Special Debt Capital
General Revenue Service Projects
$ 184,030 $ 30,644
238,125 25,067
45,499 6,430
81,286 11,232
135,944
548,940 209,317
$ 16,129
408,041
424,170
661,707 573,502 $328,557 (422,495)
741,047 (340,147) 330,527
1,402,754 233,355 659,084 (422,495)
$1.951,694 442 672 659 084 $ 1,675
The accompanying notes are an integral
part of these financial statements.
-4-
16,437,270 $21,462,112
1,853,168
40, 810
5,228,759
5,269;569 18,290,438 21,462,112
37,899,382 37,213,96.1
1,853,168 1,747,689
1,182,081 810,994
5,960,186 5,611,705
46,894,817 45,384,349
$14,144,748 $20,691,667 $21,462,112 $6,637,386 $65,991,038 $64,559,923
-5-
Proprietary
Fund Type
Account "groups,'
Total
General C General
Special
fixed "long r
tem
(Memorandum only)
Assessmen t
Enterprise
assets debt
1983
1982
$ 1,352
$ 512,018
$ 744,173
$ 407,264
20,761
20,761
45,552
1,294,772
1,113,508
3,079,513
3,442,483
53,717
105,646
299,031
106,363
106,363
179,940
2,060,202
6,167
2,158,887
1,162,496
238,012
439,536
813,492
898,808
$ 337,386
337,386
5,100,000
330,000
6,300,000
11,730,000
12,740,000 „
8,875,179
2,401,229
6,637,386
19,096,221
19,175,574
16,437,270 $21,462,112
1,853,168
40, 810
5,228,759
5,269;569 18,290,438 21,462,112
37,899,382 37,213,96.1
1,853,168 1,747,689
1,182,081 810,994
5,960,186 5,611,705
46,894,817 45,384,349
$14,144,748 $20,691,667 $21,462,112 $6,637,386 $65,991,038 $64,559,923
-5-
CITY OF EDINA, MINNESOTA
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND FUND BALANCE
ALL GOVERNMENTAL FUND TYPES
Year Ended December 31, 1983
Other sources:
Transfers from other funds 367,599 307,401
Assessment adjustments
Capitalized interest
Total revenues and other sources
(Continued)
-6-
7,880,875 1,388,112
Special
General
Revenue
Revenues:
Taxes
$4,001,680
$ 563,982
Licenses and permits
443,061
Inter - governmental revenues:
Federal
11,674
190,869
State
2,084,289
68,843
County
86,405
Charges for services
363,049
26,762
Fines and forfeitures
337,978
Other
52,119
124,836
Interest on investments
65,134
8,649
Sale and rental of property
67,887
Interest on special assessments
Parkland dedication
96,770
Reimbursement from other funds
Total revenues
7,513,276
1,080,711
Other sources:
Transfers from other funds 367,599 307,401
Assessment adjustments
Capitalized interest
Total revenues and other sources
(Continued)
-6-
7,880,875 1,388,112
Debt Capital Special
Service Projects Assessment
Total
(Memorandum only)
1983 1982
$ 887
$1,101,604
$ 5,668,153
$ 4,972,699
443,061
337,208
202,543
183,808
2,153,132
2,028,183
86,405
78,405
389,811
331,006
337,978
288,103
6,790
183,745
807,457
9,599
91,807
175,189
276,420
67,887
16,704
490,299
490,299
546,816
96,770
84,240
865,405
865,405
1,749,493
10,486
1,108,394
1,447,511
11,160,378
11,700,542
674,639
1,349,639
711,893
80,938
80,938
17,734
83,143
83,143
225,646
685,125
1,108,394
1,611,592
12,674,098
12,655,815
-7-
CITY OF EDINA, MINNESOTA
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND FUND BALANCE
ALL GOVERNMENTAL FUND TYPES
(Continued)
Year Ended December 31, 1983
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
Excess of revenues and other
sources over (under)
expenditures and other uses
Fund balance January 1, as previously reported
General
$1,083,906
4,146,820
2,236,979
211,372
Special
Revenue
—
$ 940,765
298,595
7,679,077 1,239,360
225,000
7,679,077 1,464,360
201,798 (76,248)
1,200,956 309,603
Restatement - see Note 1 -K
Fund balance January 1, as restated 1,200,956 309,603
Fund balance December 31 $1,402,754 $ 233,355
The accompanying notes are an integral
part of these financial statements.
-9-
Total
Debt
Capital
Special
(Memorandum only)
Service
Projects
Assessment
1983
1982
$ 1,083,906
$ 1,003,928
4,146,820
3,513,056
2,236,979
2,073,000
211,372
263,496
$ 63,519
$ 2,195
65,714
309,363
940,765
826,282
298,595
829,583
$ 100,000
100,000
100,000
574,639
474,852
1,049,491
1,095,445
865,326
865,326
1,749,379
674,639
63,519
1,342,373
10,998,968
11,763,532
674,639
899,639
1,010,694
55,923
55,923
129,429
674,639
738,158
1,398,296
11,954,530
12,903,655
10,486
370,236
213,296
719,568
(247,840)
6,998,598
5,056,273
13,565,430
13,579,712
(6,350,000)
(792,731)
(7,142,731)
(6,909,173)
648,598
(7921,731)
5,056,273
6,422,699
6,670,539
$ 659,084
$(422,495)
$5,269,569
$ 7,142,267
$ 6,422,699
-9-
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, 1983
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 1983 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
Excess of revenues and other
sources over (under)
expenditures and other uses
Fund balance January 1
Fund balance December 31
General
Budget Actual
$4,003,795 $4,001,680
276,750 443,061
7,000
1,994,368
86,405
362,600
250,000
17,000
40,000
65,260
11,674
2,084,289
86,405
363,049
337,978
52,119
65,134
67,887
7,103,178 7,513,276
367,599 367,599
299,861
7,770,638
1,072,389
4,117,384
2,324,258
256,607
7,880,875
1,083,906
4,146,820
2,236,979
211,372
7,770,638 7,679,077
7,770,638 7,679,077
$ -0- 201,798
1,200,956
$1,402,754
The accompanying notes are an integral
part of these financial statements.
-10-
Special Revenue
Budget Actual
$ 584,242 $ 563,982
225,000 190,869
68,843
68,843
30,000
26,762
63,551
124,836
8,000
8,649
50,000
96,770
1,029,636 1,080,711
307,401 307,401
1,337,037 1,388,112
850,986
940,765
261,051
298,595--
$4,565,662
276,750
1,112,037
1,2391360
225,000
225,000
2,153,132
86,405
1,337,037
1,464,360
389,811
2.50,000
$ -0-
(76,248)
176,955
48,000
30.9,603
65,260
67,887
$ 233,355
Total
(Memorandum.only)
Budget
Actual
$4,588,037
$4,565,662
276,750
443,061
232,000
202,543
2,063,211
2,153,132
86,405
86,405
392,600
389,811
2.50,000
337,978
80,551
176,955
48,000
73,783
65,260
67,887
50,000
96,770
8,132,814 8,593,987
675,000 675,000
299,8.61
9,107,675 9,268,987
1,072,389
4,117,384
2,324,258
256,607
85-0,986
261,051
8,882,675
1,083,906
4,146,820
2,236,979
211,372
940,765
298,595
8 -, 918,437
225,000 225,000
9,107,675 9,143,.437
$ -0- 125,550
1,510,559
$1,636,109
-11-
CITY OF EDINA, MINNESOTA
COMBINED STATEMENT OF REVENUES, EXPENSES AND RETAINED EARNINGS -
ALL PROPRIETARY FUND TYPES
Years Ended December 31, 1983 and 1982
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 (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
Other
Total other expenses
Net income
(Continued)
-12-
Enterprise funds
1983 1982
$ 5,488,154 $ 5,678,104
4,566,984 4,765,417
921,170 912,687
4,156,402 4,086,521
5,077,572 4,999,208
5,121,214 5,164,135
(43,642)
57,490
73,135
30,364
61,020
7,960
10,073
9,443
3,741
253,226
18,601
564
19,165
190,419
(164,927)
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
157,451
.� :, t
CITY OF EDINA, MINNESOTA
COMBINED STATEMENT OF REVENUES, EXPENSES AND RETAINED EARNINGS
ALL PROPRIETARY FUND TYPES
(Continued)
Years Ended December 31, 1983 and 1982
Transfers to other funds
Property and equipment contributed
by special assessments
Net decrease in retained earnings
Retained earnings January 1
Restatement for prior years accumulated
depreciation
Retained earnings January 1, as restated
Retained earnings December 31
Enterprise funds
1983 1982
$ (450,000)
$ (450,000)
189,767
165,524
(69,814)
(127,025)
19,384,843
19,408,334
(1,024,591) (921,057)
18,360,252 18,487,277
$18,290,438 $18,360,252
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, 1983 and 1982
Enterprise funds
1983 1982
Sources of working capital:
Operations:
Net income $ 190,419 $ 157,451
Item not requiring working capital:
Depreciation 560,732 571,913
Total from operations 751,151 729,364
Contributions in aid to construction
189,767
165,524
Reduction of loan to other funds
35,187
Increase in deposits
3,451
Reduction in notes receivable
4,974
4,973
Total sources of working capital
945,892
938,499
Uses of working capital:
Additions to property and equipment
275,441
257,321
Decrease in deposits
1,675
Reduction of long -term debt
110,000
110,000
Transfers to other funds
450,000
450,000
Total uses of working capital
837,116
817,321
Net increase in working capital
$108,776
$ 121,178
Elements of increase (decrease) in
working capital:
Cash
$(142,027)
$ 321,808
Receivables
123,446
37,646
Due from other funds
49,984
(170,446)
Due from other governmental units
(193,159)
160,050
Inventory
(63,220)
(153,064)
Prepaid expenses
(2,020)
(1,356)
Accounts payable
(324,660)
21,961
Due to other funds
464,144
(41,211)
Due to other governmental units
180,560
(83,810)
Accrued liabilities
15,728
(5,400)
Bonds payable
35,000
Net increase in working capital
$ 108,776
$ 121,178
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
accepted accounting principles
following is a summary of the more
A. Fund Accounting
of the City conform to generally
as applicable to governments. The
significant policies:
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 six 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.
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.
(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)
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.
Capital Project Funds - Capital Project Funds are used to
account for the acquisition or construction of major
capital facilities (other than those financed by
Proprietary Funds or Special Assessment Funds).
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) 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. 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. Unpaid vacation pay as of year -end is reported in
the long -term debt account group.
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)
Elm
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 pay is recorded in the long -term debt
account group. Sick pay is not recorded as a liability at
December 31, 1983. 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, 1983 for vacation
and sick pay was $337,386 and $1,550,784, respectively,
although it is anticipated that only a percentage of the
accrued sick pay will be used.
(Continued),
-19-
1
CITY OF.EDINA, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
(Continued)
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.
K. Financial reporting entity
The City of Edina, for financial reporting purposes,
includes all funds and account groups, including those of
the Park and Recreation Board and the Housing and
Redevelopment Authority of Edina . that are controlled by or
dependent , on- the 1C,ity's `executive_. or -legislative -branches:
Control by :or' d.ependence� ;on the 01ty ,.was determined on the
basis of budget adoption, taxing .,authority,;' outstanding
debt secured by revenues or general obligations of the
City, or the City's- ,obligation 'to fund any deficits that
may occur. - -
(Continued)
-20-
CITY OF EDINA, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
(Continued)
1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
K. Financial reporting entity (continued)
Prior to 1983, the Housing and Redevelopment Authority of
Edina Capital Projects fund was reported upon separately.
The related debt service fund, however, was included in the
City's financial reports. The Redevelopment Bond Debt
Service fund balance was restated by $6,350,000 in 1983 to
remove that portion which should be part of the long -term
debt account group.
2 RESTATEMENT FOR DEPRECIATION - PROPRIETARY FUND TYPE PROPERTY AND
EQUIPMENT
Beginning in 1983, the City started depreciating certain property
and equipment not previously depreciated. The change was adopted to be
in conformance with generally accepted accounting principles. The
effect of this change is as follows:
January 1,
1983 fund
balance as
previously
Fund reported
Swimming Pool
$ 237,791
Golf Course
387,826
Recreation Center
59,475
Gun Range
38,027
Art Center
88,930
Other
18,572,794
January 1,
1983
Effect fund balance
of change as restated
$ 225,590
179,212
555,563
29,665
34,561
$ 12,201
208,614
(496,088)
8,362
54,369
18,572,794
$19,384,843 $1,024,591 $18,360,252
(Continued)
-21-
1983
depreciation
on these
items
$10,824
28,730
43,285
3,013
11,208
97 060
CITY OF EDINA,. MINNESOTA
NOTES TO FINANCIAL STATEMENTS
(Continued)
3 BONDED DEBT
The City has three types of bonded debt outstanding at December 31,
1983: 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.
The bonded debt outstanding at December 31, 1983 is summarized as
follows:
Maturities Interest rates Amount
General Obligation Bonds 1984 -1993 5.60 -11.00 $ 6,300,000
Special Assessment Bonds 1984 -1986 4.30 -9.50 5,100,000
G.O. Revenue Bonds 1984 -1987 3.40 -5.25 330,000
$11,730,000
Changes in bonded debt during the year were as follows:
Bonds Bonds
outstanding outstanding
January 1. Redeemed December 31
General Obligation Bonds $ 6,400,000 $ 100,000 $ 6,300,000
Special Assessment Bonds 5,900,000 800,000 5,100,000
G.O. Revenue Bonds 440,000 110,000 1 330,000
$12,740,000 $1,010,000 $11,730,000
CITY OF EDINA, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
(Continued)
3 BONDED DEBT (Continued)
The City has the following revenue bonds outstanding at December 31,
1983:
Golf Course Bonds of 1964 $200,000
G.O. Recreation Center Bonds, Series D of 1978 130,000
X330,000
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.
The annual requirements to amortize all debt outstanding as of
December 31, 1983, including interest payments of $3,801,870 are as
follows:
Year ending
General
Special
December 31,
obligation
assessment
Revenue
Total
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
51,750
1,124,075
1988
1,016,000
1,016,000
1989 -1992
3,531,000
3,531,000
1993
765,750
765,750
$9,596,050
$5,577.900
357 20
$15,531,870
$233,550 is available in the Debt Service Fund to service the
general obligation.
The City is in compliance with all significant bond covenants.
(Continued)
-23-
CITY OF EDINA, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
(Continued)
4 CHANGES IN GENERAL FIXED ASSETS
A summary of changes in general fixed assets during 1983 follows:
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
Land and public
improvements -
Edina HRA
Balance Retirements Balance
January 1, Additions or transfers December 31,
$ 2,281,017
1,482,857
$ 74,045
1,869,340
278,340
36,482
199,222
47,367
5,812
131,320
49,596
495,960
312,974
1,219,951
138,415
243,925
15,878
323,647
76,303
121,231
14,800
91,706
2,810,772 176,166
1,194 2,309
11,605,890 894,739
8,995,508
$20,601.398 $894,739
(Continued)
-24-
$ 2,281,017
1,556,902
1,869,340
314,822
246,589
5,812
131,320
49,596
808,934
$20,036 1,338,330
259,803
13,989 385,961
136,031
91,706
2,986,938
3,503
34,025 12,466,604
8,995,508
$34,025 $21.462.112
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,
1983 follows:
Property
and Accumulated Net
Enterprise funds equipment depreciation book value
Land
Golf course
Land improvements
Water distribution
system
Sewer collection system
Major recreation
facilities
Major water facilities
Buildings - Liquor
stores
Furniture and fixtures
Equipment and machinery
vehicles
Construction in
progress
$ 285,341
$ 285,341
820,534
$ 26,679*
793,855
147,873
96,608
51,265
8,953,221
3,060,797
5,892,424
10,611,855
2,263,806
8,348,049
1,789,599
996,250
793,349
2,617,904
1,978,764
639,140
729,769
223,897
505,872
409,788
274,763
135,025
574,975
326,865
248,110
32,531
26,500
6,031
31,510 31,510
$27,004,900 $9,274,929 $17,729.971
* Irrigation system only is being depreciated.
Depreciation expense for 1983 was $560,732.
6 METROPOLITAN WASTE CONTROL COMMISSION
Estimated
useful life
20
25
50
100
8 - 25
5 - 25
10 - 33
5 - 10
5 - 25
5
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)
-25-
CTTY 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 and 1983, the City .sold several properties for notes or
contracts receivable, the balances of which were.$47,891 in the Liquor
Fund and $3,434 in the General Fund at December 31, 1983. Maturity
dates range from 1984 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 $135,944 as of December 31, 1983 is shown
as a contract receivable and deferred revenue, until collected, in the
Park Fund. The balance is due in two 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 Associa�tion.,-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 $500,177 for the year ended December. 31, 1983.
Under existing Minnesota "'l'aw"' the' City:” tias no future contingent
obligations or commitments- to the Plan or=
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, 1983 is as
follows:
(Continued)
-27-
Other
Total
enterprise
enterprise
Water
Sewer
Liquor
funds
funds
Sales (less cost
of $4,566,984)
$ 921,170
$ 921,170
Operating
revenues
$ 950,264
$2,121,669
$ 1,084,469
4,156,402
Depreciation
269,445
119,993
48,956
122,338
560,732
Net income (loss)
before transfers
(772)
(100,235)
311,289
(19,863)
190,419
Operating
transfers out
450,000
450,000
Current capital
contributions
81,816
107,951
189,767
Property and
equipment:
Additions
82,649
107,951
5,840
86,449
282,889
Disposals
7,448
7,448
Net working
capital
1,915,643
(316,089)
481,868
(1,197,053)
884,369
Bonds and other
long -term
liabilities
payable from
operating
revenues
330,000
330,000
Total assets
8,581,715
8,981,208
1,976,457
1,152,287
20,691,667
Total equity
8,552,300
8,173,748
1,796,795
(232,405)
18,290,438
(Continued)
-27-
10 DEPOSITS PAYABLE
Included in deposits payable is a balance of $1,847,802 in the
special assessment fund which represents the balance of monies received
from the Minnesota Department of Transportation for state -aid projects
which were incomplete at December 31, 1983. Upon completion of the
projects, deposits will be applied to construction in progress.
11 BOND PROCEEDS
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 1983, leaving a balance of $95,007 at
December 31, 1983, 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,
1983, there was no unfunded liability.
(Continued)
-28-
13 INTER -FUND RECEIVABLE AND PAYABLE BALANCES
Inter -fund receivables and payables as of December 31, 1983 were as
follows:
Inter -fund Inter -fund
Fund
receivables
payables
General (including amount due Edina
Housing and Redevelopment Authority)
$ 542,614
$ 238,125
Special Revenue:
Park
9,324
25,067
Revenue Sharing
8,650
Debt Service:
Park Bond
9,599
Redevelopment Bond (due from
Edina HRA)
233,550
Capital Projects
408,041
Special Assessment:
Permanent Improvement RevoVirrg °
205, 31;0
4,701
Improvement; Bond .Redemption= - .:T
F
84,000
Improvement " Bond Redemption - I1 '�
'. 26,764
902,564
Construction
931,532
303,507
Enterprise:
Water
373,440
1,018
Sewer
931
65,796
Liquor
415,000
16,170
Golf Course
1 25
555,755
Recreation Center
322,720
474,472
Gun Range
54
297
$3.079,513
13,079,513
(Continued)
-29-
CITY OF EDINA, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
(Continued)
14 RESERVED OR DESIGNATED FUND EQUITY
The following fund equity balances as of December 31, 1983 have been
reserved or designated for the reasons noted below:
General Fund:
Commitments $ 591,537
Dedicated funds 63,335
Other 6,835
Total General Fund 661,707
Special Revenue Funds:
Park:
Dedicated funds 348,502
Revenue Sharing 1983 budget transfer 225,000
Total Special Revenue Funds 573,502
Debt Service Funds:
Redevelopment Bond:
Debt service 233,550
Park Bond:
Bond proceeds reserved for construction 95,007
Total Debt Service Funds 328,557
Capital Project Funds:
Housing and redevelopment projects (422,495)
Special Assessment Funds:
Reserved for construction 40,810
Total Fund Equity Reservations $1.182.081
(Continued)
-30-
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, 1983 as follows:
Park Fund :0SU, /b0
Water Fund 772
Sewer Fund 100,235
Swimming Pool Fund 21,823
Recreation Center Fund 48,166
Gun Range Fund 8,851
Art Center Fund 32,688
Revenue Sharing Fund 25,482
Improvement Bond Redemption II 3,108
16 EXPENDITURES IN EXCESS OF APPROPRIATIONS
Park Fund expenditures of $1,239,360 exceeded appropriations in 1983
by $127,323. There were no other individual fund expenditures in
excess of appropriations.
-31-
CITY OF EDINA, MINNESOTA
GENERAL FUND.
COMPARATIVE.BALANCE SHEET.
December 31, 1983 and 1982
ASSETS
1983
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
$ 550
1,089,932
14,500
995
88,615
76,623
(76, 623)
116,062
.3,434
368,123
174,491
84,992
10,000
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
$1,951,694 $1.798.113
LIABILITIES AND FUND BALANCE.
Liabilities:
Accounts payable
Due to other funds
Due to other governmental units
Accrued payroll
Deposits payable:
Dedicated Funds
Other
Total liabilities
Fund balance:
Reserved or designated
Unreserved- Undesignated
Total fund balance
Total liabilities and fund balance
-32-
t $ 184,030
238,125
45,499
81,286
548,940
6.61,707
741.,047
1,402,754
,$1,951,694
$ 126,905
249,204
52,560
48,320
37,457
82,711
597,157
707,705
493,251
1,200,956
$1,798,113
CITY OF EDINA, MINNESOTA
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES AND FUND BALANCE
Year Ended December 31, 1983
(With Comparative Actual Amounts for Year Ended December 31, 1982)
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 1983 budget
Expenditures:
General government
Public safety
Public works
Unallocated general expenditures
Total expenditures
Excess of revenues and other
sources over expenditures
Fund balance January 1
Fund balance December 31
1983
Budget Actual
1982
Actual
$4,003,795 $4,001,680 $3,463,682
276,750 443,061 337,208
7,000
1,994,368
86,405
362,600
250,000
17,000
40,000
65,260
7,103,178
11,674
2,084,289
86,405
363,049
337,978
52,119
65,134
67,887
7,513,276
2,952
1,728,322
78,405
296,898
281,825
114,347
124,413
16,704
6,444,756
367,599 367,599 439,393
7,470,777 7,880,875 6,884,149
299,861
$7,770,638
$1,072,389
4,117,384
2,324,258
256,607
1,083,906
4,146,820
2,236,979
211,372
1,003,928
3,513,056
2,073,000
263,496
$7,770,638 7,679,077 6,853,480
-33-
201,798 30,669
1,200,956 1,170,287
$1,402,754 $1,200,956
Year Ended December 31, 1983
(With Comparative Actual Amounts for Year Ended December 31, 1982)
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
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
Total charges for services
Fines and forfeitures
1983
Budget Actual
$3,978,795
25,000
4,003,795
276,75.0
7,000
1,015,608
790,760
55,000
130,000
3,000
$3,962,322
39,358
4,001,680
443,061
11,674
1,029,093
790,760
55,965
116,287
92,184
1982.
Actual
$3,436,092
27,590
3,463,.682
337,208
2,952
862,943
666,571
55,965
109,484
23,556
9,803
86,405 86,405 78,405
2,087,773
150,000
`10,000
17,000
5,000
68,100
95,000
17,500
362,600
250,000
2,182,368
121,911
10,720
26,975
2,493
6.8,100
125,966
6,884
363,049
337,978
1,809,679
94,873
5,259
20,834
12,300
68,100
88,219
7.313
296,898
281,825
CITY OF EDINA, MINNESOTA
GENERAL FUND
STATEMENT OF REVENUES
(Continued)
Year Ended December 31, 1983
(With Comparative Actual Amounts for Year Ended December 31, 1982)
Miscellaneous revenues:
Interest
Sale and rental of property
Donations
Other
Total miscellaneous
revenues
Total revenues
Other sources -:"
Transfers from other funds:
Revenue Sharing Fund
Liquor Fund
Nursing Services Fund
Total transfers
Total revenues and
other sources
1983 1982
Budget Actual Actual
$ 40,000
$ 65,134
$ 124,413
65,260
67,887
16,704
2,000
1,590
8,857
15,000
50,529
105,490
122,260
185,140
255,464
7.,,103.,17 -8
.7,513,276
6,444,756
225,000
225,000
225,000
142,599
142,599
.177,500
36,893
367,599
367,599
439,393
-35-
7,470,777 $7,880,875 $6,884,149
CITY OF EDINA, MINNESOTA
GENERAL FUND
STATEMENT OF EXPENDITURES
Year Ended December 31, 1983
(With Comparative Actual Amounts for Year Ended December 31, 1982)
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
1983
Budget Actual
$ 21,450
4,763
100
10,560
$ 20,625
4,614
73
10,560
1982
Actual
$ 21,450
4,533
10,200
36,873 35,872 36,183
92,661
300
100
27,780
120,841
199,092
29,300
500
49,959
278,851
134,725
29,900
300
35,640
200,565
(Continued)
-36-
92,007
246
55
27,780
120,088
198,949
29,263
463
49,959
278,634
134,585
28,973
209
35,640
199,407
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
CITY OF EDINA, MINNESOTA
GENERAL FUND
STATEMENT OF EXPENDITURES
(Continued):.
Year Ended December 31, 1983
(With Comparative Actual Amounts for Year Ended December 31, 1982)
General.government (continued):
Election:
Personal services
Contractual services
Commodities
Central services
Assessing:
Personal services
Contractual services
Commodities
Central services
Legal -and',- ,bu•rt 'ser "vices:
Personal services
Contractual services..
Total general government
Public safety:
Police protection:
Personal services
Contractual services
Commodities
Central services
Capital outlay
1983
1982
Budget
Actual
Actual
$ 9,430 $
7,559
$ 32,178
300
282
10,625
:100
26
2,817
5,580
5,580
5,220
15,410
13,447
50,840
131,169
130,230
124,943
24,500
23,960
18,673
300
241
638
38,280
38,280
35,220
194;249
.1921-711
179,474
43,100
61,282
34,705
182,500
182,465
141,098
225,600
243,747
175,803
1,072,389 1,083,906
1,003,928
1,501,767
63,200
17,000
467,940
85,900
2,135,807
(Continued)
-37-
1,518,514 1,396,355
63,118 49,467
16,902 16,436
467,940 429,840
79,817 66,495
2,146,291 1,958,593
Year Ended December 31, 1983
(With Comparative Actual Amounts for Year Ended December 31, 1982)
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
1983
1982
Budget
Actual
Actual
$ 897,562 $
954,230
$ 869 4.64
40,000
39,895
33,197
23,900
23,843
20,914
279,180
279,180
262,140
335,:8.1:0
313;;998
8,310
1,576,452
1,611;056
1,194,025
-5:18.11
3,680
805
2,000
1,863
2,219
1,400
1,301
1,245
14,800
14,800
24,011
21,644
4,269
78,854
75,978
69,693
86,218
79,586
93,722
2,700
2,598
1,,921
29,220
29,220
24,960
400
196
197,392 187,578 190,296
(Continued)
-38-
15,378
5,34.0
890
8,520
3,000
3.3,128
15,343
5,334
886
8,520
30,083
11,599
3,546
472
7,920
23,537
CITY OF EDINA, MINNESOTA
GENERAL FUND
STATEMENT OF EXPENDITURES
(Continued)
Year Ended December 31, 1983
(With Comparative Actual Amounts for Year Ended December 31, 1982)
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
Supervision and overhead:
Personal services
Contractual services
Commodities
Central services
1983 1982
Budget Actual Actual
$ 115,374
400
1,400
33,420
$ 115,130
370
1,248
33,420
$ 110,818
166
452
30,900
150,594 150,168 142,336
4,117,384 4,146,820 3,513,056
58,050
300
16,860
75,210
196,200
2,614
7,200
64,920
270,934
156,933
1,100
400
194,160
352,593
(Continued)
-39-
55,113
270
16,860
72,243
196,172
22,894
7,160
64,920
291,146
155,547
1,044
310
194,160
351,061
51,680
635
15,900
68,215
183,586
6,400
8,353
61,740
260,079
160,373
280
32
179,640
340,325
CITY OF EDINA, MINNESOTA
GENERAL FUND
STATEMENT OF EXPENDITURES
(Continued)
Year Ended December 31.,1983
(With Comparative Actual Amounts for Year Ended December 31, 1982)
Public works (continued):
Street maintenance:
Personal services
Contractual services
Commodities
Central services
Street lighting:
Personal services
Contractual.services.'
Commod:it-ie's ,
Cent rai- tserv,icesT
Street name signs:
Personal services
Commodities
Central services
Traffic control:
Personal services
Contractual services
Commodities
Central services
1983
Budget Actual
1982
Actual
$ 310,941 $309,243 $ 295,599
21,400
21,231
8,789
248,500
247,867
198,160
210,240
210,240
193,500
791,081
788,581
696,048
9,600
9,178
8,860
255,800.
253,297
217,380
14,300
-:14,131
4,799
_
20,919
3,000
279,700 276,606 234,039
9,260
8,681
6,838
3,800
3,685
987
6,840
6,840
6,300
19,900
19,206
14,125
35,620
28,478
25,585
27,900
27,665
26,917
21,200
20,919
13,566
13,080
13,080
12,000
97,800
90,142
78,068
(Continued)
-40-
CITY OF EDINA, MINNESOTA
GENERAL FUND
STATEMENT OF EXPENDITURES
(Continued)
Year Ended December 31, 1983
(With Comparative Actual Amounts for Year Ended December 31, 1982)
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
1983
Budget Actual
$ 4,650
2,300
3,300
10,250
53,040
13,900
7,300
13,080
87,320
82,250
34,100
5,400
18,300
140,050
21,800
24,200
1,600
4,020
51,620
127,800
20,000
147,800
$ 3,255
2,161
3,300
8,716
12,277
13,740
7,166
13,080
46,263
64,306
32,826
4,987
18,300
120,419
16,342
24,058
1,354
4.020
45,774
126,822
126,822
1982
Actual
$ 271
3,000
3,271
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
2,324,258 2,236,979 2,073,000
(Continued)
-41-
CITY OF EDINA, MINNESOTA
GENERAL FUND
STATEMENT OF EXPENDITURES
(Continued)
Year Ended December 31, 1983
(With Comparative Actual Amounts for Year Ended December 31, 1982)
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
Emergency - 911
Central services
Total expenditures
1983
Budget Actual
$ 37,720 $
2,000
8,520
15,200
74,200
13,900
3,000
36,921 $
3,049
8,220
10,444
74,046
10,305
2,500
51,761 46,141
20,000
32,806 14,992
259,107 206,618
1982
Actual
24,731
3,091
6,720
9,393
77,257
675
13,933
2,500
138
45,529
183,967
(2,500) 4,754 79,529
$7,770,638 $7,679,077 $6,853,480
-42-
Year Ended.December 31, 1983
(With Comparative Actual Amounts for Year Ended December 31, 1982)
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
1983 1982
Budget Actua Actual
$1,230,120 $1,217,055 $1,205,901
25.,500
25,148
21,056
1,255,-.620
1,242,203
1,226,957
43,120
44,934
46,625
'38,500
38'1440
2:8,645
21, 40 '.0..
24 , 318
171-633
' A,620
4�1 620
3,960
107,640
109,312
96,863
42,360
46,604
27,610
54,200
54,138
65,002
240,400
24,313
10,579
4,920
4,920
4,620
125,880
129,975
107,811
187,000
186,951
175,436
7001400
70,329
62,899
324,500
339,524
324,223
103,980
103,980
95,580
685,880
700,784
658,138
2,175,020
2,182,274
2,089,769
2,177,520
2,177,520
2,010,240
$ (2,500) $ 4,754 $ 79,529
-43-
CITY OF EDINA, MINNESOTA
SPECIAL REVENUE FUNDS
COMBINING BALANCE SHEET
December 31, 1983
(With Comparative Totals for December 31, 1982)
ASSETS
Cash (deficit)
Unremitted taxes receivable
Accounts receivable
Contracts receivable
Due from other funds
Due from other governmental units
Total assets
LIABILITIES AND FUND BALANCE
Liabilities:
Accounts payable
Due to other funds
Due to other governmental units
Accrued payroll
Deposits
Deferred revenue
Total liabilities
Fund balance (deficit):
Reserved or designated
Unreserved - Undesignated
Total fund balance
Total liabilities
and fund balance
Revenue Totals
Sharing Park 1983 1982
$245,983 $(104,417) $141,566 $258,685
11,433
11,433
5,053
26,087
26,087
257,950
135,944
135,944
184,495
8,650 9,324
17,974
307,468
48,520 61,148
109,668
47,817
$303,153 $ 139,519 $442,672 $803,518
$ 30,644
$ 30,644
$ 31,510
25,067
25,067
257,950
6,430
6,430
6,430
5,087
11,232
11,232
8,443
135,944 135,944 184,495
209,317 209,317 493,915
$225,000 348,502A 573,502 526,732
78,153 (418,300) (340,147)(217,129)
303,153 (69,798) 233,355 309,603
$303,153 $139,519 $442,672 $803,518
-44-
CITY OF EDINA, MINNESOTA
SPECIAL REVENUE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND FUND BALANCE
Year Ended December 31, 1983
(With Comparative Totals for Year ended December 31, 1982)
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
Other uses:
Transfers to other funds
Total expenditures
and other uses
Excess of revenues and other
sources over (under)
expenditures and other uses
Fund balance January 1
Revenue
Sharing
$190,869
Park
Totals
1983 1982
$ 563,982 $ 563,982 $ 506,925
190,869 180,856
68,843 68,843 110,640
26,762 26,762 34,108
8,649 8,649 25,343
124,836 124,836 112,965
96,770 96,770 84,240
199,518 881,193 1,080,711 1,055,077
307,401 307,401 272,500
199,518 1,188,594 1,388,112 1,327,577
225,000
940,765 940,765 826,282
298,595 298,595 383,150
1,239,360 1,239,360 1,209,432
225,000 261,893
225,000 1,239,360 1,464,360 1,471,325
(25,482) (50,766) (76,248) (143,748)
328,635 (19,032) 309,603 453,351
Fund balance December 31 $303.153 $ (69.798)$ 233.355 $ 309,603
-45-
CITY OF EDINA,_MINNESOTA
REVENUE SHARING FUND`
STATEMENT OF REVENUES, EXPENDITURES AND FUND BALANCE
.::Year Ended December 31, 1983
(With Comparative Actual Amounts for Year Ended December 31, 1982)
-46-
1983
1982
Budget
Actual
Actual
Revenues:
Federal Revenue Sharing Grant
$225,000
$190,869
$180,856
Interest on investments
8,649
14,572
Total revenues
225,000
199,518
195,428
Other uses -,transfer to General Fund
225,000
225,000
225,000
Total other uses
225,000
225,000
225,000
Net decrease in fund balance
$ -0-
(25,482)
(29,572)
Fund balance January 1
328,635
358,207
. Fund balance December 31
$303,i53
$328,635
-46-
CITY OF EDINA, MINNESOTA
PARK FUND
STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE
Year Ended December 31, 1983
(With Comparative Actual Amounts for Year Ended December 31, 1982)
Revenues:
General property taxes
State grant - Homestead credit
Registration fees
Interest on investments
Parkland dedication
Sale of property
Grants and donations
Property and equipment contributed
by special assessments
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
1983 1982
Budget Actual Actual
$ 584,242 $ 563,982 $ 506,925
68,843
68,843
110,640
30,000
26,762
34,108
8,000
9,583
50,000
96,770
84,240
6,520
54,722
61,051
61,051
38,898
57,085
2,500
180
19,345_
804,636 881,193 858,461
307,401 307,401 272,500
1,112,037 1,188,594 1,130,961
143,742
3,300
500
148,140
2,000
44,424
342,106
(Continued)
-47-
149,698
4,388
1,207
148,140
1,342
57,440
362,215
135,464
3,900
1,080
138,120
1,738
49,210
329,512
7 E
CITY,. ;OF, EDINA.,.., MINNESOTA
PARK FUND
STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE
(Continued)
Year Ended December 31, 1983
(With Comparative Actual Amounts for Year Ended December 31, 1982)
Expenditures (continued):
Recreation:
Baseball and softball
Skating and hockey
Tennis instruction
Playground
Swimming instruction
Senior citizens
Sports.complex
Miscellaneous and special
activities
Total recreation
Maintenance:
Mowing
Special turf care
Planting and trees
Litter ,removal
Parking areas
Buildings and equipment
Skating rinks
Total maintenance
1983
Budget Actual
$ 8,000
20,000
6,400
11,900
24,700
6,700
16,200
9.3,900
44,840
91,160
32,300
29,400
12,520
118,9,00
85,860
414,980
Total current expenditures 850,986
Capital outlay 261,0.51
Total expenditures 1,112,037
Excess of revenues and other
sources over (under) expenditures $ -0-
Fund balance January 1
Fund.balance December 31
-48-
$ 8,495
19,309
3,989
16,296
26,533
6,695
5,551
16,045
102,913
48,809
107,716
23,058
44,223
14,590
155,630
81,611
475,637
1982
Actual
$ 8,960
19,596
5,597
15,484
20,735
6,686
16,122
93,180
45,526
100,492
19,910
31,684
9,555
123,196
73,227
403,590
940,765
826,282
298,595
383,150
1,239,360
1,209,432
(50,766) (78,471)
(19,032) 59,439
$ (69,798) $ (19,032)
CITY OF EDINA, MINNESOTA
DEBT SERVICE FUNDS
COMBINING BALANCE SHEET
December 31, 1983
(With Comparative Totals for December 31, 1982)
Cash
Taxes receivable:
Unremitted
Delinquent
Allowance for uncollectible
taxes
Due from other funds
Due from Edina Housing and
Redevelopment Authority
Total assets
Fund balance:
Reserved or designated
Unreserved - Undesignated
Total fund balance
ASSETS
Redevelopment Park
Bond Bond
$415,512
423
9,599
$233,550
Totals
$415,512 $402,607
423 481
891
(891)
9,599 11,960
233,550 233,550
233 550 $425,534 $659,084 $648,598
FUND BALANCE
$233,550 $ 95,007 $328,557 $328,557
330,527 330,527 320,041
$233.550 $425,534 $659,084 $648,598
-49-
CITY OF EDINA, MINNESOTA
DEBT SERVICE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND FUND BALANCE
Year Ended December 31, 1983
(With Comparative Totals for December 31, 1982)
Revenues:
General property taxes
Interest
Advances from HRA
Total revenues
Expenditures:
Bond principle
Interest and service
charges
Other use:
Transfer to Park
Construction Fund
Redevelopment Park Totals
Bond Bond 1983 1982
$ 887 $ 887 $ 1,013
9,599 9,599 11,961
$ 674,639 674,639 580,145
674,639 10,486 685,125 593,119
100,000 100,000 100,000
574,639 574,639 580,145
674,639 674,639 680,145
68,656
Total expenditures
and other use 674,639 674,639 748,801
Excess of revenues over
(under) expenditures
and other uses 10,486 10,486 (155,682)
Fund balance January 1, as
previously
reported
6,583,550 415,048
6,998,598
7,154,280
Restatement -
See Note 1 -K
(6,350,000)
(6,350,000)
(6,350,000)
Fund balance
January 1, as
restated
233,550 415,048
648,598
804,280
Fund balance
December 31
$ 233,550 $425,534
659,084
$ 648,598
-50-
CITY OF EDINA, MINNESOTA
CAPITAL PROJECTS FUNDS
HOUSING AND REDEVELOPMENT AUTHORITY OF EDINA
BALANCE SHEET
December 31, 1983
(With Comparative Totals for December 31, 1982)
ASSETS
1983
Cash $ 1,675
LIABILITIES AND FUND BALANCE
Liabilities:
q-
1982
Accounts payable $ 16,129 $ 60,387
Due to other funds 408F041 736,560
Total liabilities 424,170 796,947
Fund balance (deficit):
Designated (422,495) (792,731)
Total liabilities and fund balance $ 1,675
-51-
CITY OF EDINA, MINNESOTA
CAPITAL PROJECTS FUNDS
HOUSING AND REDEVELOPMENT AUTHORITY OF EDINA
STATEMENT OF REVENUES, EXPENDITURES AND FUND BALANCE
Year Ended December 31, 1983
(With Comparative Totals for December 31, 1982)
Revenues:
Tax increments
Federal intergovernmental revenue
Other
Total revenues
Expenditures:
Purchase of land
Professional fees
Interest charges on loans from other funds
Personal services
Other
Total expenditures
Other uses:
Transfer to debt service fund
Total expenditures and other uses
Excess of revenues over (under)
expenditures and other uses
Fund balance (deficit), January 1, as
previously reported
Restatement for prior period debt service
requirements
Fund balance (deficit), January 1, as
restated
Fund balance (deficit), December 31
-52-
1983
$1,101,604
6,790
1,108,394
26,043
30,582
2,493
4,401
63,519
674,639
738,158
370,236
(792,731)
(792,731)
$ (422,495)
1982
$1,001,079
189,221
6,278
1,196,578
446,433
167,172
121,951
12,300
2,135
749,991
680,145
1,430,136
(233,558)
(325,623)
(233,550)
(559,173)
$ (792,731)
CITY OF EDINA, MINNESOTA
SPECIAL ASSESSMENT FUNDS
COMBINING BALANCE SHEET
December 31, 1983
(With Comparative Totals for December 31, 1982)
ASSETS
LIABILITIES AND FUND BALANCE
Liabilities:
Accounts payable
Contracts payable
Due to other funds $ 4,701
Due to other governmental units
Accrued interest on bonds
Deposits payable
Deferred revenue
Escrow deposits
Bonds payable
Total liabilities 4,701
Fund balance:
Designated for construction
Unreserved - Undesignated 442,973
Total fund balance 442,97_3_
Total liabilities and fund balance $447.674
-53-
Permanent
Improvement
Revolving
Cash (deficit)
$229,418
Investments
Accounts receivable
Special assessments receivable:
Unremitted
288
Delinquent
1,665
Deferred
13,101
City's share
Allowance for uncollectible receivables
(2,320)
Due from other funds
205,310
Unassessed construction costs
212
Construction in progress:
Current
Deferred
Total assets
447.67
LIABILITIES AND FUND BALANCE
Liabilities:
Accounts payable
Contracts payable
Due to other funds $ 4,701
Due to other governmental units
Accrued interest on bonds
Deposits payable
Deferred revenue
Escrow deposits
Bonds payable
Total liabilities 4,701
Fund balance:
Designated for construction
Unreserved - Undesignated 442,973
Total fund balance 442,97_3_
Total liabilities and fund balance $447.674
-53-
Improvement
Bond
Redemption I
$ (274,819)
2,759,865
26,216
16,140
2,873,732
211,754
(159,826)
519,268
$5.972.330
$ 84,000
4,540
6,550
238,012
900,000
1,233,102
4,739,228
4,739,228
$5,972,330
Improvement
Bond
Redemption II
$ 169,948
1,317,805
31,639
166,754
3,928,599
(360,822)
26,764
29,681
$5.310.368
$ 902,564
49,177
99,813
12,256
4,200,000
5,263,810
46,558
46,558
$5,310.368
Construction
$(1,435,374)
1,615
931,532
26,935
2,868,907
20,761
$2.414.376
$ 1,352
20,761
303,507
2,047,946
2,373,566
40,810
40,810
$2,414,376
-54-
Totals
1983 1982
$(1,310,827) $ 606,019
4,077,670 1,267,178
1,615 1,615
58,143
184,559
6,815,432
211,754
(522,968)
1,163,606
576,096
2,868,907
20,761
$14,144.748
$ 1,352
20,761
1,294,772
53,717
106,363
2,047,946
238,012
12,256
5,100,000
8,875,179
40,810
5,228,759
5,269,569
$14,144.748
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
CITY OF EDINA, MINNESOTA
SPECIAL ASSESSMENT FUNDS
COMBINING STATEMENT OF REVENUES, - EXPENDITURES AND FUND BALANCE
Year Ended December 31, 1983
(With Comparative Totals for Year Ended December 31, 1982)
Revenues:
Interest:
Investments
Special assessments
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
Construction costs
Other
Total expenditures
Other use:
Assessment adjustments
Total expenditures and other use
Excess of revenues and other sources over
(under) expenditures and other uses
Fund balance January 1
Fund balance December 31
-55-
Permanent
Improvement
Revolving
$ 5,311
1,208
6,519
6,519
839
839
5,680
437,293
$442,973
Improvement Improvement
Bond Bond Totals
Redemption I Redemption II Construction 1983 1982
$ 60,965
144,836
205,801
80,938
80,938
286,739
75,258
342
494
76,0.94
76,094
210,645
4,528,583
$4,739,228
$ 25,531
344,255
369,786
83,143
83,143
452,929
399,000
252
1,701
400,953
55,084
456,037
(3,108)
49,666
46,558
$865,405
865,405
865,405
865,326
865,326
865,326
79
40,731
40,810:
-56-
$ 91,807
490,299
865,405
1,447,511
83,143
80,938
164,081
1,611,592
474,258
594
865,326
2,195
1,342,373
55,923
1,398,296
213,296
5,056,273
$5.269,569
$ 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
CITY OF EDINA, MINNESOTA
PROPRIETARY FUND TYPE - ENTERPRISE FUNDS
COMBINING BALANCE SHEET
December 31, 1983
(With Comparative Totals for December 31, 1982)
ASSETS
Swimming
Pool
$(110,752)
1,312
(109,440)
99,852
Total assets $8.581.715 $8.981.208 X1.9761457 1--1-915 8 8 )
(Continued)
-57-
Water
Sewer
Liquor
Current assets:
Petty cash and
change funds
$ 3,800
Cash (deficit)
$1,435,526
$ (351,874)
(64,343)
Investments
Receivables:
Accounts
1,261
Customers
184,535
400,516
Assessments
2,262
Notes
8,105
Due from other funds
308,627
931
Due from other
governmental units
Inventory
13,422
703,597
Prepaid expenses
2,948
9,110
Total current
assets
1,945,058
51,835
661,530
Property and equipment,
less accumulated
depreciation
6,571,844
8,392,171
860,141
Other assets:
Loans to other funds
64,813
415,000
Receivable -
Metropolitan Waste
Control Commission
537,202
Notes receivable -
less current portion
39,786
Total other
assets
64,813
537,202
454,786
Swimming
Pool
$(110,752)
1,312
(109,440)
99,852
Total assets $8.581.715 $8.981.208 X1.9761457 1--1-915 8 8 )
(Continued)
-57-
Golf Recreation Gun Art Totals
Course Center Range Center 1983 1982
$ 800 $ 700. $ 175 $ 5,475 $ 5,475
(44,067) (727,966) $(35,371) (210,518) (109,365) 32,662
12,728 12,728 12,728
594 23,838 27,005 29,976
585,051 556,677
2,262 1,537
80,105 8,453
25 22,720 54 332,357 282,373
3,692 3,692 196,851
134 250 8,124 725,527 788,747
12,058 14,078
(29,920) (680,574) (31,375) (202,219) 1,604,895 1,929,557
1,091,384 455,996 31,839 226,744 17,729,971 18,015,262
300,000 779,813 779,813
537,202 481,305
39,786 44,760
300,000 1,356,801 1,305,878
$1.061.464 $ 75.422 464 $ 24,525 $20,691.667 $21,250,697
_58-
CITY OF EDINA, MINNESOTA'
PROPRIETARY FUND TYPE - ENTERPRISE FUNDS
COMBINING.BALANCE SHEET
(Continued)
December 31, 1983
(With Comparative Totals for December 31, 1982)
LIABILITIES AND RETAINED EARNINGS
-59-
-..- ..__ �? _ _ ?.__... ! J �•'!. � _ ,_ ,.,�. - . ._ ice._ a�,<�. R ,n .� . -,�.. .:
Swimming
Water
Sewer
Liquor.
Pool
Current liabilities:
Accounts payable
$ 28,397
$ 302,128
$ 163,492
$ 34
Due to other funds
1,018
65,796
16,170
Due to other
governmental units
Accrued payroll
Bonds payable
Total current
liabilities
29,415
367,924
179,662
34
Other liabilities:
Loan from other funds
Deposits
Deferred.revenue
439,536
Bonds payable, less
cur- rent -- portion
-
--
Total other
liabilities
439,536
Total
liabilities.
29,415
807,460
179,662
34
Retained earnings:
Invested in property
and equipment
899,355
860,141
99,324
Contributed
5,672,489
8,392,171
528
Designated for debt
retirement
Unreserved - Undesignated
1,980,456
(218,423)
936,654
(109,474)
Total retained
earnings
81552,30.0
8,173,748
1,796,795
(9,622)
Total liabilities
and retained
earnings
$8,581,715
$8,981,208
$1,976,457
$ (9,588)
-59-
-..- ..__ �? _ _ ?.__... ! J �•'!. � _ ,_ ,.,�. - . ._ ice._ a�,<�. R ,n .� . -,�.. .:
Golf Recreation Gun Art Totals
Course Center Range Center 1983 1982
2,763
10,755
$ 11,704 $ 656 $
4,472 297
50,000 60,000
63,518 76,176
545,000 470,000
2,667 3,500
150,000 70,000
697,667 543,500
2,844 $ 512,018 $ 187,358
98,508 562,652
180,560
15,728
110,000 110,000
953 2,844 720,526 1,056,298
1,015,000 1,015,000
6,167 7,842
439,536 481,305
220,000 330,000
1,680,703 1,834,147
761,185 619,676 953 2,844 2,401,229 2,890,445
316,866 (159,656) (14,137) 194,437 2,196,330 2,355,977
29,517 15,652 45,976 32,307 14,188,640 14,204,286
52,300 52,300 52,300
(46,104) (452,550) (32,328) (205,063) 1,853,168 1,7470,689
300,279 (544,254) (489) 21,681 18,290,438 18,360,252
$1,061,464 $ 75,422 464 $ 24,525 $ 20,691,667 $21,250,697
-60-
CITY OF EDINA, MINNESOTA
PROPRIETARY FUND TYPE - ENTERPRISE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENSES AND RETAINED EARNINGS
Year Ended December 31, 1983
(With Comparative Totals for Year Ended December 31, 1982)
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
Water
Sewer
Liquor
$ 5,488,154
4,566,984
921,170
Swimming
1 950,264 $2,121,669 $ 78,484
950,264
2,121,669
921,170
78,484
986,144
2,350,572
687,686
100,307
(35,880)
(228,903)
233,484
(21,823)
35,108 19,251
30,364
61,020
7,960
10,073
3,131
73,135
2,103
35,108 128,668 78,369
(Continued)
-61-
Golf Recreation Gun Art Totals
Course Center Range Center 1983 1982
$ 5,488,154 $ 5,678,104
4,566,984 4,765,417
921,170 912,687
$ 620,446 $ 304,723 $ 17,382 $ 63,434 4,156,402 4,086,521
620,446 304,723
17,382 63,434
5,077,572
4,999,208
513,815 349,254,
26,233 107,203
5,121,214
5,164,135
106,631 (44,5;31)
(8,851) (43,769)
(4'3Y642)
(164,927)
57,490
33,796
73,135
83,474
30,364
40,504
61,020
61,020
7,960
5,174
10,073
7,680
9,443
9,443
22,530
89,042
1,638
.3,741
3,655
11,081
253,226
346,875
-62-
CITY OF EDINA, MINNESOTA
PROPRIETARY FUND TYPE - ENTERPRISE FUNDS
COMBINING STATEMENT
OF REVENUES,
EXPENSES AND
RETAINED EARNINGS
(Continued)
Year Ended December 31, 1983
(With Comparative
Totals for Year Ended December 31, 1982)
Swimming
Water
Sewer
Liquor
Pool
Other expenses:
Interest and paying
agent fees
Prior year's. disposal
.charges
Other
$ 564
Total other
expenses
564
Net income
(loss)
$ .(7.72 -)
..$ (100,235)
311,289
$ (21,823)
Transfers to other funds
(450,000)
Property and equipment
contributed by'.`special
'
assessments
= 811:816
1. 07,951
-_
Net increase (decrease)
in retained earnings
81,044
7,716
(138,711)
(21,823)
Retained earnings
January 1
8,471,256
8,166,032
1,935,506
237,791
Restatement for prior
years accumulated
depreciation
(225,590)
Retained earnings
January 1, as restated
8,471,256
8,166,032
1,935,506
12,201
Retained earnings
December 31
$8,552.300
$8.173,748
$1.796.795
$ (9.622)
-63-
Golf Recreation
Course Center
Gun Art Totals
Range Center 1983 1982
$ 14,966 $ 3,635
14,:9`66 3,635
91,665 (48,166) $(8,851) $(32,688
$ 18,601 $ 24,277
564 220
19,165 24,497
190,419 157,451
(450,000) (450,000)
189,767 165,524
91,665 (48,166) (8,851) (32,688) (69,814) (127,025)
387,826 59,475 38,027 88,930 19,384,843 19,408,334
(179,212) (555,563) (29,665) (34,561) (1,024,591) (921,057)
208,614 (496,088) 8,362 54,369 18,360,252 18,487,277
$300,279 $(544,254) 489) $ 21,681 $18,290,438 $18,360,252
-64-
CITY OF EDINA,-MINNESOTA
PROPRIETARY FUND TYPE.- ENTERPRISE FUNDS
COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION
Year Ended December 31, 1983
(With Comparative Totals for Year Ended December 31, 1982)
Total sources of
working capital
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
Total uses of
working capital
Net increase (decrease) in
working capital
350,489 127,709 365,219
$ 21,823
(11,537)
10,286
82,649 107,951 5,840 5,970
450,000
82.,649 107,951 455,840 16,256
$267,840 $ 19,758 $ (90,621) $(16,256)
(Continued)
-65-
r`
Swimming
-Water'.,
Sewer'
: ,L1,4uor Pool
Sources of working capital:
Operations:
Net income .(loss)
$ (772)
$(100,235)
$ 311,289
Item not requiring
working capital:
Depreciation
269.,445 =
119,993
48,956
Total from operations
268,673
19,758
360,245
Contributions.in aid to
construction
81,816
107,951
Reduction of loan to
other funds
Increase in deposits
Reduction in notes receivable
4,974
Total sources of
working capital
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
Total uses of
working capital
Net increase (decrease) in
working capital
350,489 127,709 365,219
$ 21,823
(11,537)
10,286
82,649 107,951 5,840 5,970
450,000
82.,649 107,951 455,840 16,256
$267,840 $ 19,758 $ (90,621) $(16,256)
(Continued)
-65-
Golf Recreation Gun Art
Course Center Range Center
$ 91,665
47,440
139,105
139,105
c
Totals
1983
.1982
$ 301,947
$ 443,067
485,834
343,674
787,781
786,741
1891767-
165,524
(74,898)
35,187
_ 3, 500
4,974
4,973
982,522
995,925
-66-
$ 48,166
$ 8,851
$ 32,688
111,528
257,231
(47,084)
(3,110)
(13,167)
(74,898)
(199,854)
1,082
5,741
19,521
36,630
57,377
31,936
24,504
16,591
275,441
257,321
1,675
1,675
49
50,000
60,000
110,0.00
110,000
450,000
450,000
83,611
85,586
5,741
36,112
873,746
874,747
$ 55,494
$(85,586)
5 741)
$(36,112)
$ 108,776
121.178
-66-
CITY OF EDINA, MINNESOTA
PROPRIETARY FUND TYPE - ENTERPRISE FUNDS
COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION
(Continued)
Year Ended December 31, 1983
(With Comparative Totals for Year Ended December 31, 1982)
Elements of net increase
(decrease) in working
capital:
Cash
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
Swimming
Water Sewer Liquor Pool
$181,134
$ 257,715
$(476,181)
$(12,991)
24,800
101,965
913
1,312
65,310
931
(5,000)
(190,566)
3,041
(65,776)
(1,334)
(686)
(11,318)
(290,044)
(44,293)
423
(1,018)
(2,276)
452,997
5,425
141,005
34,130
1,800
1,028
8,275
$267.840 $ 19.758 $ (90,621) 1(16,256)
-67-
Golf Recreation Gun Art Totals
Course Center Range Center 1983 1982
$ 35,102 $ (85,761) $ (2,456)
(997) (4,547)
25 (8,336) (2,946)
(2,445) (148)
(200)
7,662 10,638 (74)
12,071 2,292 (117)
1,631 2,773
$(38,589)
(285)
2,346
195
221
$(142,027)
123,446
49,984
(193,159)
(63,220)
(2,020)
(324,660)
464,144
180,560
15,728
$ 321,808
37,646
(170,446)
160,050
(153,064)
(1,356)
21,961
(41,211)
(83,810)
(5,400)
35,000
55,494: $(85,586) J-15,741) $(36.112) $ 108,776 $ 121.178
-68-
CITY OF EDINA, MINNESOTA
PROPRIETARY FUND TYPE - ENTERPRISE FUNDS
SCHEDULE OF PROPERTY AND EQUIPMENT
Year Ended December 31, 1983
Water Fund:
Land
Land improvements
Buildings and equipment
Distribution system
Sewer Fund:
Land improvements
Sewer mains and lift
stations
Furniture and fixtures
Vehicles
Equipment and machinery
Liquor Fund:
Land
Land improvements
Building
Furniture, fixtures
and equipment
Swimming Pool Fund:
Land
Swimming pool and
bathhouse
Filter system
Furniture and fixtures
Construction in progress
Assets
Balance Balance
January 1, Additions Disposals December 31,
$ 26,556 $ 26,556
31,641 $ 832 32,473
2,617,904 2,617,904
8,871,404 81,817 8,953,221
11,547,505 82,649 11,630,154
7,141 7,141
10,503,904
107,951
10,611,855
5,299
5,299
32,531
32,531
114,042
114,042
10,662,917
107,951
10,770,868
233,785
233,785
22,137
416
22,553
729,769
729,769
297,456
5,424
302,880
1,283,147
5,840
1,288,987
10,000
10,000
288,048 6,368
28,006
9,283 1,080
1,478 5,970
336,815 13,418
(Continued)
-69-
$7,448
294,416
28,006
10,363
-0-
7,448 342,785
Accumulated depreciation
Balance Prior year Balance Net Book
January 1, adjustment Additions Disposals December 31, value
$ 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
$207,386
18,204
5,806
$ 971
90,217
178,257
269,445
WIN
106,118
314
3,973
9,286
119,993
882
26,519
21,555
48,956
8,023
2,801
713
5,806 225,590 11,537
-70-
$ 18,749
1,978,764
3,060,797
5,058,310
4,975
2,263,806
3,063
26,500
80,353
2,378,697
7,297
223,897
197,652
428,846
215,409
21,005
6,519
$ 26,556
13,724
639,140
5,892,424
6,571,844
2,166
8,348,049
2,236
6,031
33,689
8,392,171
233,785
15,256
505,872
105,228
860,141
10,000
79,007
7,001
3,844
242,933 99,852
CITY OF EDINA, MINNESOTA
PROPRIETARY FUND TYPE - ENTERPRISE FUNDS
SCHEDULE OF PROPERTY AND EQUIPMENT
(Continued)
Year Ended December 31, 1983
Golf Course Fund:
Golf course
Buildings
Well
Parking lot and roadway
Equipment
Construction in progress
Recreation Center Fund:
Land improvements
Buildings
Furniture and equipment
Construction in progress
Assets
Balance Balance
January 1, Additions Disposals December 31,
$ 820,300
$ 234
242,639
121,304
13,548
1,757
278,138
20,439
9,506
1,475,929 31,936
52,174
962,164
78,335
2,500
22,004
1,092,673 24,504
Gun Range Fund:
Land improvements 16,290
Building 47,532
Furniture and equipment 1,839
Art Center Fund:
Land
Land improvements
Building
Office furniture and
equipment
Machinery and equipment
65,661
15,000
1,937
230,567 12,281
8,572
8,736 4,310
264,812 16,591
$26,729,459 $282,889
-71-
$ 820,534
242,639
121,304
15,305
298,577
9,506
1,507,865
52,174
962,164
80,835
22,004
1,117,177
16,290
47,532
1,839
65,661
15,000
1,937
242,848
8,572
13,046
281,403
.$7,448 $27,004.900
Accumulated
depreciation
44,872
197,976
Balance Prior year
4,521
Balance
Net Book
January 1, adjustment
Additions Disposals
December 31,
value
$ 16,001
$ 10,678
$ 26,679
$ 793,855
146,036
12,881
158,917
83,722
7,278
4,852
12,130
109,174
9,897
320
10,217
.5,088
$ 189,829
18,709
208,538
90,039
9,506
189,829 179,212 47,440 416,481 1,091,384
45,837 1,332
509,726 41,953
58,534 3,799
58,534 555,563 47,084
6,219 1,085
23,446 1,927
1,047 98
1,047 29.,665 3,110
768 129
33,793 11,079
3,194 85.7
3,737 1,102
6,931 34,561 13,167
$7,689,606 $1,024,591 $560,732
-72-
47,169 5,005
551,679 410,485
62,333 18,502
22,004
661,181 455,996
7,304 8,986
25,373 22,159
1,145 694
33,822 31,839
15,000
897
1,040
44,872
197,976
4,051
4,521
4,839
8,207
54,659 226,744
$9,274,929 $17,729,971
CITY OF EDINA, MINNESOTA
WATER FUND
COMPARATIVE BALANCE SHEET
December 31, 1983 and 1982
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
1983
$1,435,526
184,535
308,627
13,422
2,948
1,945,058
6,571,844
64,813
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
-73-
$ 28,397
1,018
29,415
899,355
5,672,489
1,980,456
8,552,300
$8,581,715
1982
$1,254,392
159,735
243,317
10,381
4,282
1,672,107
6,758,640
64,813
$8,495,560
$ 17,079
5,425
1,800
24,304
1,082,548
5,676,093
1,712,615
8,471,256
$8,495,560
CITY OF EDINA, MINNESOTA
WATER FUND
COMPARATIVE STATEMENT OF REVENUES, EXPENSES AND RETAINED EARNINGS
Years.Ended December 31, 1983 and 1982
Operating revenues:
Water charges
Sale of meters (less cost of meters sold)
Permits
Other
Total operating revenues
Operating expenses:
Source of.supply:
Personal services
Other services and charges
Supplies
Distribution:
Personal services
Other services and charges
Supplies
Purification:
Personal services
Other services and charges
Supplies
General and administrative:
Personal services
Other services and charges
Supplies
Depreciation
Total operating expenses
Operating (loss)
Other revenues:
Interest on investments
Net income (loss)
Property and equipment contributed by special
assessments
Net increase in retained earnings
Retained earning January 1
Retained earnings December 31
-74-
1983
$ 943,509
3,270
2,836
649
i9'82
$ 999,975
2,,698
2,045
950,264 1,004,718
36,698
273,034
18,995
123,235
17,783
98,293
4,582
572
.31,954
41,670
69,572
311
269,445.
986,144
(35,880)
35,108
(772)
81,816
81,044
8,471,256
$8,552.,300
r
29,910
272,826
87,338
141,332
65,449
41,449
1,113
134
3,260
51,257
63,549
90
268,299
1,026,006
(21,288)
30,317
9,029
81,082
90,111
8,381,145
$8,471,256
CITY OF EDINA, MINNESOTA
WATER FUND
COMPARATIVE STATEMENT OF. CHANGES IN FINANCIAL POSITION
Years Ended December 31, 1983 and 1982
Sources of working capital:
Operations:
Net income (loss)
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
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
ti. A
$ (772)
269,445
268,673
81,816
350,489
82,649
I267.840
$181,134
24,800
65,310
3,041
(1,334)
(11,318)
(1,018)
5,425
1,800
$267,840
$ 9,029
268,299
277,328
81,082
35,187
393,597.
95,221
$ 298.376
$ 494,321
(57,025)
(150,931)
(418)
12,885
4,000
(3,670)
(786)
$ 298,376
CITY OF EDINA, MINNESOTA
SEWER FUND
COMPARATIVE BALANCE SHEET
December 31, 1983 and 1982
ASSETS
Current assets:
Cash (deficit)
Receivables:
Customers
Assessments
Due from other funds
Due from other governmental units
Total current assets
1983
1982
$ (351,874) $ (609,589)
400,516 396,942
2,262 1,537
931
51,835
190,566
(20,544)
Property and equipment, less accumulated
depreciation 8,392,171 8,404,213
Other assets:
Receivable - Metropolitan Waste Control
Commission 537,202 481,305
Total assets $8,981,208 $8,864,974
LIABILITIES AND RETAINED EARNINGS
Current liabilities:
Accounts payable
Due to other funds
Due to other governmental units
Accrued payroll
Total current liabilities
Other liability - deferred revenue
Total liabilities
Retained earnings:
Contributed
Unreserved- Undesignated
Total retained earnings
Total liabilities and retained
earnings
-76-
$ 302,128
65,796
367,924
439,536
807,460
8,392,171
(218,423)
8,173,748
$8,981,208
$ 12,084
63,520
141,005
1,028
217,637
481,305
698,942
8,404,213
(238,181)
8,166,032
$8,864,974
Years Ended December 31, 1983 and 1982
Operating revenues - sewer charges
Operating expenses:
Collection:
Personal services
Other services and charges
Supplies
Disposal - contractual services
Administrative and general:
Personal services
Other services and charges
Depreciation
Total operating expenses
Operating loss
Other revenues:
Deferred charges
Rental income
Prior year's disposal charges
Current value credit - MWCC
Grant
Interest on investments
Total other revenues
Net loss
1983 1982
$2,121,669 $2,030,276
139,880
.136,130
42,163
129,515
29,650
19,935
1,903,662
1,781,763
20,873
20,039
94,351
157,907
119,993
119,221
2,350,572
2,364,510
(228,903)
(334,234)
10,073
7,680.
7,960
5,174
30,364
40,504
61,020
61,020
89,042
19,251
Property and equipment contributed by
special assessments
Net increase (decrease) in
retained earnings
Retained earnings January 1
Retained earnings December 31
-77:-
128,66.8 203,420
(100,235) (130,814)
107,951 84,442
7,716
8,166,032
$9,17.3,748
(46,372.)
8,212,404
$8,166,032
Sources of working capital:
Contributions in aid to construction
Uses of working capital:
Operations:
Net loss
Item not requiring working capital:
Depreciation
Additions to property and equipment
Total uses of working capital
Net increase (decrease) in working capital
Elements of net increase (decrease)
in working capital:
Cash
Receivables
Due from other funds
Due from other governmental units
Accounts payable
Due to other funds
Due to other governmental units
Accrued payroll
-78-
1983.
$ 107,951
100,235
(119,993)
(19,758)
107,951
88,193
$ 19.758
$ 257,715
101,965
931
(190,566)
(290,044)
(2,276)
141,005
1,028
$ 19,758
1982
$ 84,442
130,814
(119,221)
11,593
84,604
96,197
$ (11.755)
$(123,029)
68,476
(3,251)
190,566
(2,887).
(59,426)
(82,134)
(70)
$ (11.755)
CITY OF EDINA, MINNESOTA
LIQUOR FUND
COMPARATIVE BALANCE SHEET
December 31, 1983 and 1982
ASSETS
Current assets:
Petty cash and change funds
Cash (deficit)
Accounts receivable
Notes receivable
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
1983
$ 3,800
(64,343)
1,261
8,105
703,597
9,110
661,530
860,141
415,000
39,786
454,786
Total assets $1,976,457
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
-79-
$ 163,492
16,170
179,662
860,141
936,654
1,796,795
$1,976,457
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
$ 119,199
469,167
34,130
8,275
630,771
903,257
1,032,249
1,935,506
$2,566,277
CITY OF EDINA, MINNESOTA
LIQUOR FUND
COMPARATIVE STATEMENT OF REVENUES, EXPENSES AND RETAINED EARNINGS
Year Ended December.31, 1983
(With Comparative Totals for Year Ended December 31, 1982)
Other revenues
(expenses):
Interest
Discounts
Cash.over
(.short)
Other
Total other
revenue
3,131 3,131 3,479
14,542 31,711 26,882 73,135 83,474
(53) (665) 154 (564) (220)
828 720 555 2,103 1,064
18,448 31,766 27,591 77,805 8.7,797
Net income
before
transfers $ 45,820 $ 125,310 $ 140,159 311,289 326,036
(Continued)
-80-
1983
1982
50th Street
Yorkdale
Grandview
Totals
Totals
Sales
$1,174,141
$2,311,001
$2, 003,012,$5,488,154.$5,
;678,104
Cost of sales
967,349
1,.938,382
1,661,253
4,566,984
4,765,417
Gross
profit
206,792
372,619
341,759
921,170
912,687
Operating expenses:
Selling
86,484
159,918
125,987
372,389
374,851
Occupancy
35,877
51,873
42,918
130,668
134,832
Administrative
57,059
67,284
60,286
184,629
164,765
Total
operating
expenses
179,420
279,075
229,191
687,686
674,448
Operating
income
27,372
93,544
112,568
233,484
238,239
Other revenues
(expenses):
Interest
Discounts
Cash.over
(.short)
Other
Total other
revenue
3,131 3,131 3,479
14,542 31,711 26,882 73,135 83,474
(53) (665) 154 (564) (220)
828 720 555 2,103 1,064
18,448 31,766 27,591 77,805 8.7,797
Net income
before
transfers $ 45,820 $ 125,310 $ 140,159 311,289 326,036
(Continued)
-80-
CITY OF EDINA, MINNESOTA
LIQUOR FUND
COMPARATIVE STATEMENT OF REVENUES, EXPENSES AND RETAINED EARNINGS
(Continued)
Year ended December 31, 1983
(With Comparative Totals for Year Ended December 31, 1982)
Transfers to other
funds:
General Fund
Park Fund
Net decrease in
retained earnings
Retained earnings
January 1
Retained earnings
December 31
1983 1982
50th Street Yorkdale Grandview Totals Totals
-81-
$ 142,599 $ 177,500
307,401 272,500
450,000 450,._000.
(138,711) (123,964)
1,935,506 2,059,470
$1,796,795 $1,935,506
CITY OF EDINA, MINNESOTA
LIQUOR FUND
COMPARATIVE STATEMENT OF CHANGES IN FINANCIAL POSITION
Years Ended December 31, 1983 and 1982
Sources of working capital:
Operations:
Net income
Item not requiring working capital:
Depreciation
Total from operations
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:
Cash
Accounts receivable
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
-82-
1983 1982
$ 311,289 $ 326,036
48,956 51,860
360,245 377,896
4,974 4,973
365,219 382,869
450,000
450,000
5,840
2,787
455,840
452,787
$ (90.621)
(69,918)
$(476,181)
$ 65,481
1,261
(348)
(350)
(3,564)
(65,776)
(155,266)
(686)
(1,356)
(44,293)
12,545
452,997
12,278
34,130
1,994
8,275
(1,680)
$ (90.621) $ (69.918)
CITY OF EDINA, MINNESOTA.
LIQUOR FUND.
COMPARATIVE SCHEDULE OF OPERATING EXPENSES
Year Ended December- 31, 1983
(With Comparative Totals for Year Ended December 31, 1982)
-83-
Totals
50th.Street
Yorkdale
Grandview
1983
1982
Selling:
Salaries and wages
$ 80,186
$151,372
$118,388
$349,946
$347,250.
Supplies
3,273
5,059
4,437
12,769
18,764
Licenses and dues
380
121
121
622
63,2
Services contract
948
2,221
1,354
4,523
4,482
Direct promotion
1,595
1,145
1,585
4,325
3,723
.Other
102
102
204
86,484
159,918
125,987
372,389
374,851
Occupancy:
Salaries and wages
458
1,052
1,922
3,432
2,720
Telephone
1,508
1,834
1,204
4,546
4,073
Supplies
1,585
889
1,349
3,823
2,752
Light and power
6,821
10,609
4,614
22,044
21,175
Maintenance, heating
and cooling
355
414
260
1,029
592
Heat
712
2,783
2,365
5,860
7,454
Laundry and rug service
445
429
804
1,678
1,858
Burglar alarm
572
752
554
1,878
1,821
Insurance
4,147
7,811
6,548
18,506
21,297
Share of maintenance
1,913
235
2,148
2,905
Repair and maintenance
781
8,174
468
9,423
7,868
Depreciation -
15,353
13,692
19,911
48,956
51,860
Rubbish hauling
647
2,560
2,559
5,766
6,230
Janitorial service
255
258
179
692
944
Water and sewer
service
325
381
181
887
1,283
35,877
51,873
42,918
130,668
134,832
Administrative:
Salaries and wages
23,579
27,204
23,196
73,979
64,302
Supplies
409
892
524
1,825
562
Professional service
2,781
2,782
3,032
8,595
6,282
Allocated - expenses =.
_•
Retiremeht,insu:r-
ance, ; of -f ice, .'
supplies, etc.
26,040
32,160
29,460
87,660
84,300
Data processing
r3 °; 623 ,
113.0 3
3,423
10,349
6,392
Mileage
42,5
45'0
425
1,300
1,227
Miscellaneous
202
493
226
921
1,700
57,059
67,284
60,286
184,629
164,765
Total operating
expenses
$179.420
$279.075
$229,191
$687,686
$674.448
-83-
ASSETS
Current assets:
1983
Cash (deficit) $(110,752)
Accounts receivable 1,312
.Due from other funds
Total current assets (109,440)
Property and equipment, less accumulated
depreciation 99,852
Total assets $ (9.588)
LIABILITIES AND RETAINED EARNINGS
Current liability:
Accounts payable
Retained earnings (deficit):
Invested in propert.y_,.-- ,.arid equipment
Contributedi:.
Unreserved- Undesignated
Total retained earnings .(deficit)'
Total liability and retained
earnings (deficit)
-84-
$" 34
99 ,._324;,
528.
:(109.;`4,74)
(9,622).
$ (9, -588)
1982,
$(97,761)
5,000
(92,761)
105,419
$ 12,658
$ 457
104,891
528
(93,218)
12,201
,� 12,658
sf ,Y
CITY OF EDINA, MINNESOTA
SWIMMING POOL FUND
COMPARATIVE STATEMENT OF REVENUES, EXPENSES AND RETAINED EARNINGS
Years Ended December 31, 1983 and 1982
-85-
1983
1982
Operating revenues:
Season tickets
$ 41,509
$ 40,129
General admissions
19,344
15,137
Rentals and instruction programs
5,000
5,000
Concessions (less cost of goods sold)
12,267
10,851
Other
364
1,260
Total operating revenues
78,484
72,377
Operating expenses:
Salaries and wages
41,893
40,460
Supplies
7,776
7,922
Utilities
16,731
20,195
Insurance
419
672
Repair and maintenance
6,201
3,855
Professional service
100
100
Printing and office expense
3,012
1,808
Central services
5,940
5,460
Concessions - operating
6,169
6,339
Contractual services
420
640
Depreciation
11,537
14,904
Other
109
118
Total operating expenses
100,307
102,473
Net loss
(21,823)
(30,096)
Retained earnings January 1
237,791
253,554
Restatement for prior years accumulated
depreciation
(225,590)
(211,257)
Retained earnings January 1, as restated
12,201
42,297
Retained earnings (deficit) December 31
$ (9,622)
$ 12,201
-85-
Uses of working capital:
Operations:
Net loss
Item not requiring working capital:
Depreciation
Total from operations
Net 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 decrease
net increase (decrease)
capital:
receivable
other funds
payable
in working capital_
'C
1983
$ 21,823
(11,537)
10,286
5,970
16,256
$(16,256)
$(12,991)
1,312
(5,000)
423
$(16,256)
r
1982
$ 30,096
(14,904)
15,192
3,282
18,474
$(18,474)
$(16,913)
(1,331)
(230)
$(18,474)
CITY OF EDINA, MINNESOTA
GOLF COURSE FUND
COMPARATIVE BALANCE SHEET
December 31, 1983 and 1982
ASSETS
Current assets:
Petty cash and change funds
Cash (deficit)
Investments
Accounts receivable
Due from other fund
Total current assets
Property and equipment, less accumulated
depreciation
Total assets
Current liabilities:
Accounts payable
Due to other funds
Accrued payroll
Bonds payable
1983
$ 800
(44,067)
12,728
594
25
1982
$ 800
(79,169)
12,728
1,591
(29,920) (64,050)
1,091,384
$1,061,464
LIABILITIES AND RETAINED EARNINGS
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
-87-
$ 2,763
10,755
50,000
63,518
545,000
2,667
150,000
697,667
761,185
316,866
29,517
(46,104)
300,279
$1,061,464
1,106,888
$1,042,838
$ 10,425
22,826
1,631
50,000
84,882
545,000
4,342
200,000
749,342
834,224
282,371
29,517
(103,274)
208,614
$1,042,838
CITY OF EDINA, MINNESOTA
GOLF COURSE FUND
COMPARATIVE STATEMENT OF REVENUES, EXPENSES AND RETAINED EARNINGS
Years Ended December 31, 1983 and 1982
Operating revenues:
Green fees
Rental fees
Membership fees
Concessions (less cost of goods sold)
Range
Lessons
Other
Total operating revenues
Operating expenses:
Administration
Building - Club House and Pro Shop
Maintenance of course and grounds
Range and grill
Depreciation
Total operating expenses
Operating income
Other expense:
Interest and paying agent fees
Net income
Retained earnings January 1
Restatement for prior years accumulated
depreciation
Retained earnings January 1, as restated
Retained earnings December 31
Imm
1983 1982
$350,878
$364,007
71,477
66,093
45,355
43,465
56,080
49,650
93,841
88,046
2,530
1,997
285
691
620,446 613,949
138,312
118,612
34,555
32,431
223,674
241,589
69,834
71,026
47,440
51,900
513,815 515,558
106,631 98,391
(14,966) (18,774)
91,665 79,617
387,826 279,824
(179,212) (150,827)
208,614 128,997
$300,279 $208,614
CITY OF EDINA, MINNESOTA
GOLF COURSE FUND
COMPARATIVE STATEMENT OF CHANGES
IN FINANCIAL POSITION
Years Ended December 31,
1983 and 1982
1983
1982
Sources of working capital:
Operations:
Net income
$ 91,665
$ 79,617
Item not requiring working capital:
Depreciation
47,440
51,900
Total sources of working capital
139,105
131,517
Uses of working capital:
Additions to property and equipment
31,936
55,983
Decrease in deposits
1,675
49
Reduction of long- term.debt
50,000
50,00.0
Total uses of working capital
83,611
106,032
Net increase in working capital
$ 55,494
$ 25,485
Elements of net increase (decrease)
in working capital:
Petty cash and change
$ (50)
Cash
$'35 102
47,137
Accounts :,receivable
x(997)
1,591
Due from other fund
25
Accounts payable
7,662
(6,242)
Due to other funds
12,071
(5,885)
Accrued payroll
1,631
(1,066)
Bonds payable
(10,000)
Net increase in working capital
$ 55,494
$ 25,485
W'Z
CITY OF EDINA, MINNESOTA
GOLF COURSE FUND
COMPARATIVE SCHEDULE OF OPERATING EXPENSES
Years Ended December 31, 1983 and 1982
Range and grill:
Personal services 53,101 56,615
Contractual services 5,792 6,373
Commodities and supplies 10,941 8,038
Total range and grill 69,834 71,026
Depreciation 47,440 51,900
Total operating expenses $513,815 $515.558
w
1983
1982
Administration:
Personal services
$ 85,902
$ 66,145
Contractual services
47,615
48,271
Commodities and supplies
2,831
3,814
Other charges
10,964
382
Total administration
138,312
118,612
Building - Club House and Pro Shop:
Personal services
6,832
5,118
Utilities
14,511
15,217
Fuel
4,074
3,779
Supplies
7,473
5,272
Repairs - building
4,064
2,936
Contractual services
721
2,297
Other charges
2,672
3,928
Less amount charged to grill
(5,792)
(6,116)
Total building - Club House and Pro
Shop 34,555
32,431
Maintenance of course and grounds:
Personal services
133,428
128,748
Contractual services
13,076
14,810
Commodities and supplies
36,781
61,113
Fixed charges
39,900
36,600
Other charges
489
318
Total maintenance
223,674
241,589
Range and grill:
Personal services 53,101 56,615
Contractual services 5,792 6,373
Commodities and supplies 10,941 8,038
Total range and grill 69,834 71,026
Depreciation 47,440 51,900
Total operating expenses $513,815 $515.558
w
CITY OF EDINA, MINNESOTA
RECREATION CENTER FUND
COMPARATIVE BALANCE SHEET
December 31, 1983 and 1982
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
Property and equipment, less accumulated
depreciation
1983
$ 700
(727,966)
23,838
22,720
1'3A
(680,574)
455,996
Other assets:
Loan to other funds 300,000
Total assets $ 75.422
LIABILITIES AND RETAINED EARNINGS
Current liabilities:
1982
$ 700
(642,205)
28,385
31,056
2,445
334
(579,285)
478,576
300,000
$ 199.291
Accounts payable $ 11,704 $ 22,342
Due to other funds 4,472 6,764
Accrued payroll 2,773
Bonds payable 60,000 60,000
Total current liabilities 76,176 91,879
Other liabilities:
Loan from other funds 470,000 470,000
Deposits 3,500 3,500
Long -term liability - bonds payable,
less current portion 70,000 130,000
Total other liabilities 543,500 603,500
Total liabilities 619,676 695,379
Retained earnings (deficit):
Invested in property and equipment (159,656) (197,076)
Contributed 15,652 15,652
Reserved for debt retirement 52,300 52,300
Unreserved - Undesignated (452,550) (366,964)
Total retained earnings (deficit) (544,254) (496,088)
Total liabilities and retained
earnings (deficit) 75,422 $ 199,291
-91-
Retained earnings (deficit) December 31
-92-
$(544,2542 $(496,088)
CITY OF EDINA, MINNESOTA
RECREATION CENTER FUND
COMPARATIVE STATEMENT OF REVENUES, EXPENSES AND RETAINED
EARNINGS
Years Ended December 31, 1983 and
1982
1983
1982
Operating revenues:
Rental fees $
228,358
$ 216,719
Season ticket sales
26,101
27,950
Daily skating fees
8,012
71978
Admissions
24,068
.20,835
Concessions (less cost of goods sold)
8,055
6,501
Vending machine commissions
6,288
7,119
Services - skate sharpening
3,620
4,555
Other
221
170
Total operating revenues
304,723
291,827
Operating expenses:
Personal services
127,536
115,941
Contractual services
94,700
114,708
Commodities, supplies and repairs
45,974
37,046
. Depreciation
47,084
50,278
Other charges
33,960
290,160
Total operat=inglexpenses
349,254
347,133
Operating loss
(4'4,531)
(55,306)
Other revenues (expenses,),:.:.,
Interest and paying agent fees ,_
(3,635)
(5,503)
Net loss
(`48,166)
(60,809)
Retained earnings January 1
59,475
73,211
Restatement for prior years accumulated
depreciation
(555,563)
(508,490_)_
Retained earnings (deficit) January 1,
as restated
(496,088)
(435,279)
Retained earnings (deficit) December 31
-92-
$(544,2542 $(496,088)
CITY.OF EDINA, MINNESOTA
RECREATION CENTER FUND.
COMPARATIVE STATEMENT OF CHANGES IN FINANCIAL POSITION
Years Ended'December 31, 1983 and 1982
Sources of working capital:
Increase in deposits
Uses of working capital:
Operations:
Net loss
Item not requiring working capital:
Depreciation
Total from operations
Additions to-.proper,ty,and equipment
Reduction of - long -'term :debt
Total uses of working „capital
Net decrease in working capital
Elements of net increase (decrease)
in working capital:
Cash
Accounts receivable
Due from other funds
Due from other governmental units
Inventory
Accounts payable
Due to other funds
Accrued payroll
Accrued interest
Bonds payable
Net decrease in working capital
-93-
$ 3,500
$ 48,166
60,809
(47,084)
(50,278)
1,082
10,531
24', SO4
9, 638
60,000..`.
60,000
85,586
80,169
85 86)
$ (76,669)
$(85,761) $(106,707)
(4,547)
(8,336)
(2,445)
(200)
10,638
2,292
2,773
26,285
(15,290)
(29,956)
(1.16)
8,210
(2,456)
(1,958)
319
45,000
85 586) $ (76,669)
CITY OF EDINA, MINNESOTA
GUN RANGE FUND
COMPARATIVE BALANCE SHEET
December 31, 1983 and 1982
ASSETS
Current assets:
1983
Cash (deficit) $(35,371)
Due from other funds 54
Due from other governmental units 3,692
Inventory 250
Total current assets (31,375)
Property and equipment, less accumulated
depreciation 31,839
Total assets $ 464
LIABILITIES AND RETAINED EARNINGS
Current liabilities:
Accounts payable $ 656
Due to other funds 297
Total current liabilities 953
Retained earnings (deficit):
Invested in property and equipment (14,137)
Contributed 45,976
Unreserved - Undesignated (32,328)
Total retained earnings (deficit) (489)
Total liabilities and retained earnings $ 464
-94-
1982
$(32,915)
3,000
3,840
250
(25,825)
34,949
$ 9,124
$ 582
(11,027)
45,976
(26, 587)
8,362
$ 9.124
CITY OF.'EDINA, MINNESOTA .
GUN RANGE FUND
COMPARATIVE STATEMENT OF REVENUES, EXPENSES AND RETAINED EARNINGS
Years Ended December 31., 1983 and 1982
-95-
1983
1982
Operating revenues:
Range fees
$14,444
$16.,20.4
Sale of ammunition
2,227
2,830
Concessions (less cost of goods sold)
399
(193)
Other
312
420
Total operating revenues
17,382
19,261
Operating expenses:
Personal services
10,813
15,298
Contractual services
5,059
3,583
Central services
1,080
Commodities and supplies
5,931
9,772
Depreciation
3,110
2,974
Other a
240
95
Total operating expenses
26,233
31,722
Net loss
(8,851)
(12,461)
Retained earnings January 1
38,027
4.7,612.
Restatement for prior years accumulated
depreciation
(29,665)
(26,789)
Retained earnings January 1, as restated
8,362
200,823
Retained earnings (deficit) December 31
1__L489)
-95-
CITY OF EDINA, MINNESOTA
GUN RANGE FUND
COMPARATIVE STATEMENT OF CHANGES IN FINANCIAL POSITION
Years Ended December 31, 1983 and 1982
Uses of working capital:
Operations:
Net loss
Item not requiring working capital:
Depreciation
Total from opera.tIons
Net decrease in working capital
Elements of net increase (decrease)
in working capital:
Cash
Due from other funds
Due from other governmental units
Accounts payable
Due to other funds
Accrued payroll
Net decrease in working capital
-96-
1983 1982
$ 8,851 $ 12,461
(3,110) (2,974)
5,,7,41' 9,487
5 741) $ (a. 487)
$(2,456)
$(12,028)
(2,946)
2,590
(148)
(560)
(74)
653
(117)
(180)
38
$(5,741) $ (9,487)
CITY OF EDINA, MINNESOTA
ART CENTER FUND
COMPARATIVE BALANCE SHEET
December 31, 1983 and 1982
ASSETS
LIABILITIES AND RETAINED EARNINGS
Current liabilities:
Accounts payable $ 2,844 $ 5,190
Due to other funds 195
Accrued payroll 221
Total current liabilities 2,844 5,606
Retained earnings:
Invested in property and equipment 194,437 191,013
Contributed 32,307 32,307
Unreserved - Undesignated (205,063) (168,951)
Total retained earnings 21,681 54,369
Total liabilities and retained earnings $ 24,525 $ 59,975
-97-
1983
1982
Current assets:
Petty cash and change funds
$ 175
$ 175
Cash (deficit)
(210,518)
(171,929)
Inventory
8,124
8,409
Total current assets
(202,219)
(163,345)
Property and equipment, less accumulated
depreciation
226,744
223,320
Total assets
$ 24,525
$ 59,975
LIABILITIES AND RETAINED EARNINGS
Current liabilities:
Accounts payable $ 2,844 $ 5,190
Due to other funds 195
Accrued payroll 221
Total current liabilities 2,844 5,606
Retained earnings:
Invested in property and equipment 194,437 191,013
Contributed 32,307 32,307
Unreserved - Undesignated (205,063) (168,951)
Total retained earnings 21,681 54,369
Total liabilities and retained earnings $ 24,525 $ 59,975
-97-
-98-
CITY OF EDINA, MINNESOTA
ART CENTER FUND
COMPARATIVE STATEMENT OF REVENUES, EXPENSES
AND RETAINED
EARNINGS
Years Ended December 31, 1983
and 1982
1983
1982
Operating revenues:,
Memberships
$ 6,391
$ 5,066
Registration fees
49,801
41,274
Retail sales, less cost of goods sold
7,242
.7,773
Total operating revenues
63,4.34
54,113
Operating expenses:
Administration:
Personal services
30(,190
261970
Contractual services
3,582
3,336
Commodities
4,730
5,730
Other charges
5,220
3,780
410,-722
39,816
Occupancy: .h
Personal services
'3,204
2,933
Contractual 'services
101026
8,598
Commodities
2,533
2,249
15,763
.13,780
Class costs
2,116
3,512
Instructors - personal services
32,435
32,700
Depreciation
13,167
12,477
Total operating expenses
107,203
102,285
Operating loss
(43,769)
(48,172)
Other revenues:
Donations
9,443
22,530
Other
1,638
2,591
Total other revenues
11,081
25,121
Net loss
(32,688)
(23,051)
Retained earnings January 1
88,930
101,114,
Restatement for prior years accumulated
depreciation
(34,561)
(23,694)
Retained earnings January 1, as restated
54,369
77,420
Retained earnings December 31
$ 21,681
$ 54,369
-98-
CITY OF EDINA, MINNESOTA
ART CENTER FUND
COMPARATIVE STATEMENT OF CHANGES IN FINANCIAL POSITION
Years Ended December 31, 1983 and 1982
Uses of working capital:
operations:
Net loss
Item not'requirrng;4use : of working .,capital:
Depreciation"
Total from operations
Additions to property and equipment
Total uses of working capital
Net decrease in working capital
Elements of net increase (decrease)
in working capital:
Cash
Inventory
Accounts payable
Due to other funds
Accrued payroll
Net decrease in working capital
-99-
1983
="$ 32,688 $ 23,051
(13,167") (12,477)
19,521 10,574
16,591 5,806
36,112 16,380
36 112) $(16,380)
$(38,589)
$(26,404)
(285)
2,736
2,346
(2,973)
195
10,458
221
(197)
36 112) $(16,380)
SECTION III
STATISTICAL SECTION
CITY OF EDINA, MINNESOTA'
SCHEDULE OF CASH, INVESTMENTS AND SECURITY FOR DEPOSITS
December 31, 1983
Face amount of
securities pledged
Cash and by depository
investments as collateral
First Edina National Bank, Edina, Minnesota:
Checking account
$ (279,136)
Savings account
322,3.81
Checking account - Housing and
Redevelopment Author` <ity
1,67.5,
.`44,920 $2,115,000
First Southdale National.Bank,
Edina, Minnesotan
Deposit account
52,113
Payroll account
20,804
Savings account
10,656
83,573 $1,495,000
Southwest Fidelity State Bank,
Edina, Minnesota:
Certificates of deposit
100,000
First National Bank of Minneapolis,
Minneapolis,.Minnesota:
U.S. Government Securities 4,077,670
City of Edina bonds 12,728
Land 14,500
Donated securities 995
Petty cash and change funds 6,025
Total cash and investments $4,340,411
Additional coverage of $100,000 for demand and time deposits
is provided at each depository by the Federal Deposit Insurance
Corporation.
-100-
ILI
CITY OF EDINA,'MINNESOTA
COMBINED SCHEDULE.. -OF INDEBTEDNESS
December'� 3,1, 1983
Final 1983 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 1982 9.5 -11.00 10/1/81 10/1/93 None
Special assessment bonds:
Improvement Bonds of 1975 -5.30 -5.50 12/1/75 12/1/83
Improvement Bonds of 1977 4.25 -4.40 11/1/77 11/1/86
Temporary Improvement Bonds
of 1982 (Refinancing Issue) 9.5 10/1/81 10/1/84
Revenue bonds:
Golf Course Bonds 3.20 -3.50 12/1/63 12/1/87
Recreation Center Series D 5.20 -5.25 11/1/78 11/1/85
Total bonded indebtedness
-101-
None
None
Indebtedness
Authorized
and issued Redeemed Outstanding
$ 2,200,000 $ 400,000 $ 1,800,000
4,500,000 4,500,000
6,700,000 400,000 6,300,000
3,500,000 3,500,000
2,700,000 1,800,000 900,000
4,200,000 4,200,000
10,400,000 5,300,000 5,100,000
825,000 625,000 200,000
370,000 240,000 130,000
1,195,000 865,000 330,000
$18,295,000 $6,565,000 $11,730,000
-102-
Due in 1984
Principal Interest
$ 100,000
450,000
550,000
300,000
4,200,000
4,500,000
50,000
60,000
110,000
$5,160,000
$ 111,750
456,975
568,725
39,300
399,000
438,300
6,950
6,795
13,745
$1,020,770
CITY OF EDINA, MINNESOTA
SCHEDULE OF
CHANGES IN BONDED
INDEBTEDNESS
Year
Ended December 31,
1983
Balance
$450,000 per year
Balance
10/1/84 -85
January 1
Redeemed
December. 31
General obligation bonds
$ 6,400,000
$ 100,000
$ 6,300,000
Special assessment "bond,s
r
' '5,,x900:`,:000
800,,:000
5,100, 000
Revenue bonds:'
450,000
October 1, 1989
10.20
Golf Course
250,000.,
50,000
200,000
Recreation Center
1901000
60,000
130,000
112,740,000 $1,010,000 $11,7301000
BONDS PAYABLE
December 31, 1983
Issue
date
Interest Maturity Principal
rate I date amount
General obligation bonds:
$2,200,000 General Obligation
Redevelopment Bonds 12/1/75
$100,000 per year 5.60 -5.90 12/1/84 -86 $ 300,000
$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
1,800,000
$4,500,000 General Obligation
Tax Increment Bonds, Series
1982 10/1/81
$450,000 per year
9.50
10/1/84 -85
900,000
October 1, 1986
9.70
10/1/86
456,000
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
6,300,000
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.fi
CITY OF EDINA, MINNESOTA
BONDS PAYABLE
(Continued)
December 31, 1983
Issue Interest Maturity Principal
date rate date amount
Special assessment bonds:
$2,700,000 Improvement Bonds
of 1977 11/1/77
$300,000 per year 4.30 -4.40 11/1/84 -86 $ 900,000
$4,200,000 Temporary
Improvement Bonds of 1982
(Refinancing Issue) 10/1/81
$4,200,000 9.50 10/1/84 4,200,000
Total special
assessment bonds 5,100,000
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
12/1/63
3.40 -3.50 12/1/84 -87 200,000
11/1/78
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5.20 11/1/84
5.25 11/1/85
60,000
70,000
130,000
330,000
$11,730,000
$6,300,000 $3,296,050 $5,100,000 $477,900 $330,000 $27,920
-105-
General
Special
Year
Obligation
Bonds
Assessment
Bonds
Revenue
Bonds
ended
Principal Interest
Principal-
fhterest
Pr- iricipal
Interest
1984
$ 550,000 $
568,725
$4,500,000
$438,300
$110,000
$13,745
1985
550,000
520,375
30.0,000
'? 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
$6,300,000 $3,296,050 $5,100,000 $477,900 $330,000 $27,920
-105-
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
1983
5,423,374
5,337,812
98.42
44,998
5,382,810
99.25
SPECIAL ASSESSMENT LEVIES AND COLLECTIONS
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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
1983
1,715,209
1,591,398
92.78
103,960
1,695,358
98.84
-106-
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
1980 1981
$43.6.,802,624 $504,778,611
(6,083,511) (7,973,641)
(15,346,797) (19,175,260)
.4,125,589 5,206,302
$419. ,497,905 $482,836,01
$ 3,415,958 $ 3,858,796
448,187 576,934
247,977
16,200 16,426
$ 4,128,322 $ 4,452,156
8.134 7.986
1.079 1.194
.597
.039 .034
9.849 9.214
1982
1983
1984
$564,735,561
$635,301,752
$655,425,509
(10,665,671)
(11,920,193)
(12,50.9,408)
(26,853,542)
(3.4,675,960)
(41,755,200)
8,292,333
10,609,741
11,984,498
$535,508.681
$599.315.340
$613,145,399
$ 4,221,447
$ 4,770,102
$ 5,648,282
634,175
653,272
695,406
4.855.622 $ 5.423,374 $ 6,343,688
7.881 7.9.5.9 9.235
1.184 1.090 1.137
9.065 9.049 10.372
-108-