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HomeMy WebLinkAbout1983 Financial StatementsMai 40%�urdman 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 -103- .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 -104- 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 -106- 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-