HomeMy WebLinkAbout1981 Financial StatementsCITY OF EDINA, MINNESOTA
FINANCIAL STATEMENTS
DECEMBER 31, 1981
CITY OF EDINA, MINNESOTA
ELECTED AND APPOINTED OFFICIALS
DECEMBER 33. 1981
CITY OF EDINA, MINNESOTA
TABLE OF CONTENTS
SECTION I
INTRODUCTORY SECTION
Page
.Comments
I
SECTION II
FINANCIAL SECTION
Accountants' report
1
II -A. Combined Financial Statements (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
4
Combined statement of revenues, expenditures and fund balance -
budget and actual - general and special revenue fund types
6
Combined statement of revenues, expenses and retained earnings
all proprietary fund types
8 ,
Combined statement of changes in financial position,- all proprietary
fund types
9
Notes to financial statements
10
II -B. Combining and Individual Fund Statements and Account Groups
General Fund
Comparative balance sheet
22
Statement of revenues, expenditures and fund balance.
23
Statement of revenues
24
Statement of expenditures
26
Schedule of central services expenditures
31
Special revenue funds
Combining balance sheet
32
Combining statement of revenues, expenditures and fund balance
33
Statements of revenues, expenditures and fund balance
Revenue Sharing Fund
34
Nursing Services Fund
34
Park Fund
35
Debt service funds
Combining balance sheet
37
Combining statement of revenues, expenditures and fund balance
39
Special assessment funds
• Combining balance sheet
40
Combining statement of revenues, expenditures and fund balance
42
CITY OF EDINA, MINNESOTA
TABLE OF CONTENTS (CONTINUED)
II -B. Combining and Individual Fund Statements and Account Groups
(Continued)
Page
Proprietary Fund Type = Enterprise funds
Combining balance sheet
44
Combining statement of revenues, expenses and retained earnings
48'
Combining statement of changes in financial position
50
Schedule of property and equipment
52
Water Fund
Comparative balance sheet
56
Comparative statement of revenues, expenses and retained
earnings
57
Comparative statement of changes in financial position
S8
Sewer Fund
Comparative balance sheet
59
Comparative statement of revenues, expenses and retained
earnings
60
Comparative statement of changes in financial position
61
Liquor Fund
Comparative balance sheet
62
Comparative statement of revenues, expenses and retained
earnings
63
Comparative statement of changes in financial position
64
Comparative schedule of operating expenses
65
Swimming Pool Fund
Comparative balance sheet
66
Comparative statement of revenues, expenses and retained
earnings
67
Comparative statement of changes in financial position
68
Golf Course Fund
Comparative balance sheet
69
Comparative statement of revenues, expenses and retained
earnings
70
.Comparative statement of changes in financial position
71
Comparative schedule of operating expenses
72
Recreation Center Fund
Comparative balance sheet
73
Comparative statement of revenues, expenses and retained
earnings
74
Comparative statement of changes in financial position
75
Gun Range Fund
Comparative balance sheet_
76
Comparative statement of revenues, expenses and retained
earnings
77
Comparative statement of changes in financial position
78
Art Center Fund
Comparative balance sheet
79
Comparative statement of revenues, expenses and retained
earnings
80
Comparative statement of changes in financial position
81
Comparative statement of General Fixed Assets
82
Comparative statement of General Long -term Debt
83
CITY OF EDINA, MINNESOTA
TABLE OF CONTENTS (CONTINUED)
SECTION III
STATISTICAL SECTION
Page:
Schedule of cash, investments and security for deposits 85
Combined schedule of indebtedness 86
Schedule of changes in bonded indebtedness 88
Bonds payable
88 .
Debt service requirements 90
Tax levies and collections 91
Special assessment levies and collections 91
Assessed valuation, tax levies and. mill rates 93
N
01 r,
4801 WEST 50TH S r9EET. EDINA• 5542
612- 927 -8851
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 neces-
sary to provide basic governmental services to the City such as general government,
public safety and public works.
A plan of financial operation of the fund is set forth in the annual budget adopted
by Council. The General Fund statements are prepared to show the budget estimates
and actual amounts. A condensed summary of operations is shown below:
Revenues and other sources
General property taxes
Licenses and permits
Intergovernmental revenue
Fines and forfeitures
Charges for services
.Other revenues
Transfers from other funds
Reserved surplus
Total revenues
Expenditures and other uses
1981
$ 843,534
1980
$ 746,774
Budget
Actual
Budget.
Actual
$3,098,870
$3,056,144
$2,794,239
$2,826,696
198,600
335,480
192,900
229,646
2,057,364
2,095,442
1,913,289
1,981,851.
246,800
256,447
159,000
236,801
300,300
328,346
277,900
.258,908
64,500
113,689
64,500
71,414
295,000
295,000
315,000
315,000
481,500
427,095
$6,742,934 $6,480,548 $6,143,923 $5,920,316
General government
$ 843,534
$ 842,863
$ 746,774
$ 754,849
Public safety
3,320,593
3,260,927
3,028,987
2,929,500
Public works
2,294,406
2,117,412
2,050,094
1,962,484
Unallocated general expenditures
247,901
245,610
316,168
275,698
Central services
36,500
139,622
( 13,100)
.( 108,038)
Transfers to other funds
15,000
15,000
Total expenditures
$6,742,934
$6,606,434
$6,143,923
$5,829,493
During 1981, the fund balance decreased $125,886 to $1,170,287 at December 31, 1981.
$705,487 of the fund balance has been reserved for various reasons as explained in
the Notes to the Financial Statements, leaving an unreserved fund balance of $464,800.
I
Special Revenue Funds
Special revenue funds are established to account for taxes and other revenues set
aside for a particular purpose. Following is a brief description of each fund.
Revenue Sharing Fund - The Revenue Sharing
received from the Federal Government in ac
Assistance Act of 1972." Expenditures can
the Act. The City's share of revenues for
of $225,000 were made to the General Fund,
December 31, 1981.
Fund was established to account for revenue
zordance with the "State and Local Fiscal
only be made from this fund as outlined in
1981 was $213,843. During 1981, transfers
leaving a fund balance of $358,207 at
Nursing Services Fund -.This fund was established to account for money used for health
and nursing services. Beginning in 1978, the activities of the fund were accounted
for in the General Fund. This fund will be closed in 1982.
Park Fund - The Park Fund was established to account for the administration, mainten-
ance and improvement of City parks. Expenditures exceeded revenue by..$4,787 during
1981, leaving a fund balance of $59,439 at December 31, 1981.
Debt Service Funds
The debt service fends 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, 1981 is _$163,663 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 are retired as of
December 31, 1981.
Redevelopment Bond Fund - The Redevelopment Bond Fund was established to account for
debt retirement of the 1975 and 1981 Redevelopment Bonds.
Special Assessment Funds
Special assessment funds are established to account for assessments levied to finance
improvement or services deemed to benefit the properties against which the assessments
are levied. Primarily, the transactions accounted for in special assessment construc-
tion funds are receipt of bond proceeds and disbursement of bond proceeds for construc-
tion 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.
Enterprise Funds
Enterprise funds are established to account for the self supporting activities of the
City which render services to the general public on a user charge basis.
Water Fund - The Water Fund accounts for the operations of the City -owned water system.
Shown below is a condensed summary of operations for the last three years:
Operating revenues
Operating expenses
Operating income (loss)
Other revenues
1981
1980
$ 921,260
$ 778,195
869,991
1 853,464
$ 51,269
$( 75,269)
33,869
28,448
Net income (loss) $ 85,138 $( 46,821
II
1979
$ 544,596
830,771
$(286,1.75)
31,878
$(254,297)
Enterprise Funds (Continued)
84.52 1,000,487
$ 201,581
15.48 $ 199,822
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:
100.00
1981
1980
1979
Operating revenues
$1,712,360
$1,388,669
$1,162,176.
Operating expenses
1,862,828
1,688,256
1,530,478
Operating loss
$( 150,468)
$( 299,587)
$( 368,302)
Other revenues - Net
16,716
91,202
.131,825
Net loss
$( 133,752)
$( 208,385)
( 236,477)
Operating income
Liquor Fund - The Liquor Fund accounts for the operations
of the City -owned liquor
operation. Shown below is a condensed
summary of operations
for the
last three years:
1981
1980
was
1979
Transfers
Percent
Percent
Percent
Amount
of sales Amount
of sales Amount of sales
,50th Street
Sales
Cost of goods sold
Gross profit
Operating expenses
Operating income
Yorkdale.
Sales
Cost of goods sold
Gross profit
Operating expenses
Operating. income
$1,302,088 100.00. $1,200,309
1,100,507
84.52 1,000,487
$ 201,581
15.48 $ 199,822
166,698
12.80 153,924
$ 34,883
2.68 $ 45,898
$2,616,193
100.00 $2,510,132
2,187,151
83.60' 2,092,917
$ 429,042
16.40 $ 417,215
255,393
9.76 228,126
$ 173,649 6.64 $ 189,089
100.00 $1,077,915
83.36 934,181
16.64 $ 143,734
12.83 133,094
3.81 $ 10,640
100.00 $2,222,356
83.38 1,860,094
16.62 $ 362,262
9.09 195,511
7.53 $ 166,751
100.00
86.67
13.33
12.34
.99
100.00
83.70
16.30
8.80
7.50
Grandview
Sales
$2,155,251
100.00
$2,081.,391
100.00
$1,908,976
100.00
Cost of goods sold
1,853,221
85.99
1,774,629
85.27
1,639,540
85.89
Gross profit
$ 302,030
14.01
$ 306,762
14.73
$ 269,436
14.11
Operating expenses
217,178
10.08
188,805
9.08
165,773
8.68
Operating income
$ 84,852
.3.93
$ 117,957
5.65
$ 103,663
5.43
'During 1981, net income
for all stores
was
$385,592.
Transfers
to other funds during
the year were $400,000
or 103.74% of
net income. The
$400,000
transfer was
the
equivalent of an .83 mill tax levy.
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:
Operating revenues
Operating expenses
Net loss
III
1981 1980 1979
$ 62,412 $ 59,109 $ 52,008
86,483 77,279 62,425
$(24,071) 18 170) $(10,417)
Enterprise Funds (.Continued)
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, $290,000
of which remain outstanding at December 31, 1981. Shown below is a condensed summary
of operations for the last three years:
1981 1980 1979
Operating revenues $ 567,017 $ 490,952 $ 403,224
Operating expenses 450,448 400,.753 342,420
Operating income $ 116,569. $ 90,199 $ 60,804
Other expenses ( 24,147) ( 25,765) ( 21,838)
Net income $ 92,422 1_14.434 1__18,966
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, $295,000 of which remain
outstanding at December 31, 1981. 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:
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:
1981
1980
1979
Operating revenues
$ 269,386
$ 234,979
$ 241,808
Operating expenses
345,707
340,404
267,797
Operating loss
$( 76,321)
$(105,425)
$( 25,989)
Other revenues (expenses)
2,241
( 7,010)
( 8,285)
Net loss
$( 74,080)
$(112,435)
$( 34,274)
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:
1981
1980
1979
Operating revenues
$ 24,467
$ 18,025
$ 18,179
Operating expenses
26,531
17,753
18,086
Net income (loss)
$( 2,064)
$ 272.
$ 93
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:
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.
IV
1981
1980
.1979
Operating revenues
$ 55,298
$ 50,677
$ 48,840
Operating expenses
73,283
67,579
69,168
Operating loss
$( 17,985)
$( 16,902)
$( 20,328)
Other revenues (expenses)
10,486
4,076
( 3,624)
Net loss
L(--L 499)
$( 12,826)
$( 23,952)
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.
IV
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.
SECTION II
FINANCIAL SECTION
GMHo GEORGE M. HANSEN COMPANY, P.A.
A Professional Corporation of Certyiied Public Aecountant-s
ACCOUNTANTS' REPORT
City Council
Edina, Minnesota
We have examined the combined financial statements of the City of Edina, Minnesota
as of and for the year ended December 31, 1981,. as listed in the table of contents.
Our examination was made in accordance with generally accepted auditing standards
and, accordingly, included such tests of the accounting records and such other
auditing procedures as we considered necessary in the circumstances.
As explained in Note 2, the financial statements do not include depreciation on
certain property and equipment of the proprietary fund types and depreciation expense
has not been included as an operating expense. The amount by which the financial
statements would change if these items were included cannot be determined.
Except for the omission described in the immediately preceding paragraph, which does
not conform with generally accepted accounting principles, in our opinion, the com-
bined financial statements referred to above present fairly the financial position
of the City of Edina, Minnesota at December 31, 1981, and the results of its operations
and changes in financial position of the proprietary fund types for the year then
ended, in conformity with generally accepted accounting principles applied on a basis
consistent with that of the preceding year.
Our examination was made for the purpose of forming an opinion on the combined
financial statements taken as a whole. The combining, individual fund, and account
..group financial statements and schedules listed in the table of contents 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 sub -
jected to the auditing procedures applied in the examination of the combined financial
statements and is subject to the same opinion as the combined financial statements
taken as a whole. Our examination did not include the statistical information listed
in the table of contents.
June 30, 1982
175 SOUTH PLAZA BUILDING WAYZATA BOULEVARO AT HIGHWAY 1'00, MINNEAPOLIS. MINNESOTA 55416 612/546-2566
2
CITY OF EDINA, MINNESOTA
COMBINED BALANCE SHEET
ALL FUND TYPES AND ACCOUNT GROUPS
DECEMBER 31, 1981
ASSETS
Cash (deficit)
Investments
Taxes receivable
Unremitted
Delinquent
Allowance for uncollectible taxes
Accounts receivable
Special assessments receivable
Unremitted
Delinquent
Deferred
Allowance for uncollectible special assessments
Due from other funds
Due from other governmental units
Other receivable - MWCC
Note receivable
Contracts receivable
Inventory
Prepaid expense
Construction in progress
Unassessed construction costs
Property and equipment less
accumulated depreciation
General fixed assets
Amount available in debt service funds
Total assets
LIABILITIES AND FUND EQUITY
Liabilities
Accounts payable
Contracts payable
Due to other funds
Due to other governmental units
Accrued expenses
Deposits
Deferred revenue
Bonds payable
Total liabilities
Fund equity
.Invested in fixed assets
Retained earnings
Fund balance
Reserved
Unreserved - Undesignated
Total fund equity
Total liabilities and fund equity
See accompanying notes to financial statements.
Governmental Fund TVDes
679,782 696,335
1,148,595 44,413
26,650
10,000
160,035
6,683,550
$2,255.663 $812,157 $7,154.280
$ 186,249 $ 53,835
654,116 293,211
98,110
25,095 3,607
121,806 8,153
$1,085,376 $358,806
$ 705,487 $482,782 $6,847,213
464,800 (29,431) 307,067
$1,170,287 $453,351 $7,154,280
$2,255,663: JIL2,157 $7,154.280
Special
Debt
General
Revenue
Service
$ 173,873
$ 67,051
$ 310,509
25,495
36,413
4,358
186
71,602
1,759
( 71,602)
( 1,759)
154,855
679,782 696,335
1,148,595 44,413
26,650
10,000
160,035
6,683,550
$2,255.663 $812,157 $7,154.280
$ 186,249 $ 53,835
654,116 293,211
98,110
25,095 3,607
121,806 8,153
$1,085,376 $358,806
$ 705,487 $482,782 $6,847,213
464,800 (29,431) 307,067
$1,170,287 $453,351 $7,154,280
$2,255,663: JIL2,157 $7,154.280
3
Account Groups
_
Proprietary
General
General Total
Special
Fund Type
Fixed
Long -term (memorandum
only)
Assessment
Enterprise
Assets
Debt 1981
1980
. $ 22138,360
$( 283,671)
$ 2,406,122
$ 2,345,857
470,995
12,728
509,218
1,473,073
40,957_
53,431.
73,361
57,443
( 73,361)
( 57,443)
1,615
548,916
705,386
582,19.4
25,521
25,521
36,939
65,400
1,278
66,678
1,220
7,623,048
7,623,048
8,480,773
( 435,966)
( 435,966)
( 413,451)
1,582,791
1,267,819
4,386,762
4,675,230
36,801
7,913,359
3,646,855
521,466
521,466
560,083
58,536
58,536
63,858
26,650
26,539
941,811
951,811
885,162
15,434
15,434
127,277
2,696,253
2,696,253
1,764,934
733,336
733,336
690,563
19,250,911
19,250,911
19,499,551
$11,024,306
11,024,306
10,025,097
$6,500,000 6,500,000
2,100,000
$14,901,353
$22,372,029
$11,024,306
$6,500,000 $65,019,788
$56,625,185 -
$ 10,154
$ 209,319
$ 459,557
$ 343,610
619,561
619,561
325,098
1,902,994
1,536,441
4,386,762
4,675,230
- 6,191
96,750
201,051
216,771
. 115,246
10,328
154,276
..276,525
520,162
4,391
654,512
618,561
225,251
521,466
746,717
777,777
6,700,000
585,000
$6,500,000 13,785,000
10,780,000
$10,099,559
$ 2,963,695
$6,500,000 $21,007,436
$18,013,572
$17,650,911
$11,024,306
$28,675,217
$27,779,648
1,757,423
1,757.,423
1,813,788
$ 344,295
8,379,777
4,629,063
4,457,499
5,199,935
4,389,114
$ 4,801,794
$19,408,334
$11,024,306
$44,012,352
$38,611,613
$14,901.353
$22,372,029
$11,024,306
$6,500,000 $65,019,788
$56,625,185
4
CITY OF EDINA, MINNESOTA
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND FUND
BALANCE
ALL GOVERNMENTAL FUND TYPES
YEAR ENDED DECEMBER 31, 1981
General
Revenues
Taxes
$
3,056,144
Licenses and permits
335,480
Intergovernmental revenues
Federal
9,376
State
1,981,080
County
104,986
Charges for services
328,346
Fines and forfeitures
256,447
Other
42,978
Interest on investments
49,459
Sale and rental of property
21,252
Interest on special assessments
Interest on bonds issued
Parkland dedication
Reimbursement from other funds
Total revenues
$
6,185,548
Other sources
Transfers from other funds
295,000
Increase in deposits
Assessment adjustments
Capitalized interest
Bonds issued
Total revenues and other sources
$
6,480,548
_ Expenditures
Current
General government
$
842,863
Public safety
3,260,927
Public works
2,117,412
Unallocated general expenditures
385,232
Other
Parks
Capital outlay
Debt service
Bond principal
Interest, service charges and discount
Construction costs
..Total expenditures
$
6,606,434
Other uses
Transfers to other funds
_ Assessment and tax adjustments
Total expenditures and other uses
$
6,606,434
Net increase (decrease) in fund balance
$(
125,886)
Fund balance January 1, as restated (Note 7)
1,296,173
Fund balance December 31
S 1,170,287
See accompanying notes to financial statements.
i
5
Total
Special
Debt
Special
(memorandum
only)
Revenue
Service
Assessment
1981
1980
$
459,538
$
1,030
$ 3,516,712
$ 3,195,287
335,480
229,646
213,843
223,219
234,816
.
117,338
2,098,418
2,862,191
104,986
148,404
27,401
355,747
332,280
256,447
236,801
5,056
125,638
173,672
154,982
47,121.
31,961
$ 143,181
271,722
137,127
21,252
12,513
471,694
471,694
519,463
28,817
28,817
7,226.
80,500
80,500
128,603
1,794,187.
1,794,187
4,316,130
$
950,797
$
158,629
$ 2,437,879
$ 9,732,853
$12,515,469
330,000
625,000
899,300
3,981
125,307
125,307
44,870
47,805
47,805
398,193
4,500,000
4,500,000
$
1,280,797
4,658,629
$ 2,610,991
$15,030,965
$13,861,813
$
842,863
$ 755,444
3,260,927
2,929,500
2,117,412
1,962,484
.
385,232
167,660
$ 5,942
5,942
6,852
$
785,141
785,141
788,631
258,574
258,574
161,928
$
100,000
100,000
350,000
126,695
540,210
666,905
556,500
-
1,79 187
1,794,187
5,394,663
$
1,043,715
$
226,695
$ 2,340,339
$10,217,183
$13,073,662
225,000
225,000
514,300
27,247
27,247
164,285
$
1,268,715
$
226,695
$ 2,367,586
$10,469,430
$13,752,247
$
12,082
$
4,431,934
$ 243,405.
$ 4,561,535
$ 109,566
441,269
2,722,346
4,558,389
99018,177
8,908,611
$ 453,351
$ 7,154,280
$ 4,801,794
$13,579,712
$.9,.018,177
6.
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, 1981
General
Budget
Actual
Revenues
Taxes
$ 3,098,870
$ 3,056,144
Licenses and permits
198,600
335,480
Intergovernmental revenues
Federal
10,120
9,376
State
1,948,258
1,981,080
County
98,986.
104,986
Charges for services
300,300
328,346
Fines and forfeitures
246,800
256,447
Other
22,500
42,978
Interest on investments
35,000
49,459
Sales and rental of property
7,000
21,252
Parkland. dedication"
Total revenues
$ 5,966,434
$ 6,185,548
Other sources
Transfers from other funds
295,000
295,000
Total revenues and other sources
$ 6,261,434
$ 6,480,548
Expenditures
General government
$ 843,534
$ 842,863
Public safety
3,320,593
3,260,927
Public works
2,294,406
2,117,412
Unallocated general expenditures
284,401
385,232
Parks
.Current expense
Capital outlay
Total expenditures
$ 6,742 934
$ 6,606,434
Other use
Transfers. to other funds
Total expenditures and other use
$ 6,742,934
$6,606,434
Net increase (decrease) in fund balance
$( 481,500)
$( 125,886)
Fund balance January 1, as restated (Note 7)
1,296,173
Fund balance December 31
$ 1,170,287
,See accompanying notes to financial statements.
I
II
Total
Special
Revenue
(memorandum
only)
Budget
Actual
Budget
Actual
$
459,538
$
459,538
$
3,558,408
$
3,515,682
198,600 `
335,480
225,000
213,843
235,120
223,219
117,338
.117,338
2,065,596
2,098,418
98,986
104,986
32,000
27,401
332,300
355,747
246,800
256,447
1,500
1,885
24,000
44,863.
-
9,000
47,121
44,000
96,580
3,171
7,000
24,423
80,500
80,500
$
844,376
$
950,797
$
6,810,810
$
7,136,345
330,000
330,000
625,000
625,000
$ 1,174,376
$
1,280,797
$ 7,435,810
$
7,761,345
$
843,534
$
842,863
3,320,593
3,260,927
2,294,406
2,117,412
284,401
385,232
$
749,376
$
785,141
.749,376
785,141
2001000
258,574
200,000
258,574
_
$
949,376
$
1,043,715
$
7,692,310
$
7,650,149.
225,000
225,000
225,000
225,000
$
1,174,376
$
1,268,715
$
7,917,310
$
7,875,149
$ -0-
$
12,082
( 481.500)
$(.
113,804)
441,269
1,737,442
$ 453,351
$ 1,623,638
8
CITY OF EDINA, MINNESOTA
COMBINED STATEMENT OF REVENUES, EXPENSES AND
RETAINED EARNINGS
ALL PROPRIETARY FUND TYPES
YEARS ENDED DECEMBER 31, 1981 AND
-1980
Enterprise
funds
1981
1980
Sales and cost of sales
Sales
$
6,073,532
$
5,791,832
Cost of sales
5,140,879
4,868,033
Gross profit
$
932,653
$
923,799
Operating revenues
Charges for services
3,612,200
3,020,606
Total gross profit and operating revenues.
$
4,544,853
$
3,944,405
..Operating expenses
4,3154,540
4,016,343
Operating income (loss)
$
190,313
$(
71,938)
Other revenues
Interest
$
46,109
$
37,734
Discounts
81,836
86,015
Prior year's disposal charges
18,747
Current value credit - MCC
61,020
61,020
Rental income
4,378
4,776
Deferred charges
6,938
6,659
Donations
8,503
1,730
Other
11,515
4,012
Total other revenues
$
220,299
$
220,693
Other expenses
Interest and paying agent fees
$
29,906
$
34,314
Prior year's disposal charges
58,871
Other
149
253
Total other expenses
$
88,926
$
34,567
Net income
$
321,686
$
114,188
Transfers to other funds
(
400,000)
(
339,202)
Property and equipment contributed
by special assessments
147,484
408,059
Disposal of nondepreciated equipment
(
229,175)
Decrease in reserves
51,650
Net increase (decrease) in
retained earnings
$(
160,005)
$
234,695
Retained earnings January 1, as restated (Note 7)
19,568,339
19,333,644
` Retained earnings December 31
$19,408,334
19 568,339
See accompanying notes to financial statements.
See accompanying notes to financial statements.
9
CITY OF EDINA, MINNESOTA
COMBINED STATEMENT OF CHANGES IN FINANCIAL POSITION
ALL PROPRIETARY FUND TYPES
YEARS ENDED DECEMBER 31, 1981 AND
1980
Enterprise
funds
1981
1980
Sources of working capital
Operations
Net income
$
321,686
$ 114,188
,Item not requiring working capital
Depreciation
460,538
452,860
Total from operations -
$
782,224
$ 567,048
Contributions in aid to construction
147,484
408,059
Disposal of property and equipment
229,586
823
Transfers from other funds
60,798
Increase in deposits
1,857
1,634
Reduction in notes receivable
4,974
4,973
Total sources of working capital
$1,166,125
$1,043,335 -
Uses of working capital
Additions to property and equipment
$
441,484
$ 534,650
Reduction of long -term debt
145,000
145,000
Transfers to other funds
400,000
400,000
Reduction of contributions in aid to construction
229,175
Total uses of working capital
$1,215,659
X1,079,650
Net decrease in working capital
$( 49,534)
$( 36,315)
Various elements of increase (decrease) in working capital
Cash
$
368,951
$( 830,679)
Investments
(
163,319)
144,286
Receivables
37,379
77,074
Due from other funds
190,598
49,477
. Due from other governmental units
10,669
( 65,228)
Inventory
66,649
250,058
Prepaid expenses.
(
111,843)
7,102
Accounts payable
(
33,081)
1,112
Due to other funds
(
384,676)
291,017
Due to other governmental units
(
63,351)
( 4,977)
Accrued liabilities
32,490.
( 5,557)
Bonds payable
50,000
Net decrease in working capital
$( 49,534)
$( 36,315)
See accompanying notes to financial statements.
10
CITY OF EDINA, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 1981
Note 1 - Summary of Significant Accounting Policies
The City of Edina operates under the "Optional Plan B" form of government according
to applicable State of Minnesota Statutes. The Statutes prescribe a Council- manager
form of organization. The City provides the following services: public safety,
highways and streets, sanitation, health and social services, culture- recreation,
public improvements, planning and zoning, and general administration.
The accounting policies of the City conform to generally accepted accounting
principles as applicable to governments, except that depreciation on certain
proprietary fund type property and equipment is not recorded (Note 2). The following
is a summary of the more significant policies:
A. Fund Accounting
The accounts of the City are organized on the basis of funds and account
groups, each of which is considered a separate accounting entity. The
operations of each fund are accounted for with a separate set of self -
balancing accounts that comprise its assets, liabilities, fund equity,
revenues, and expenditures, or expenses, as appropriate. Government
resources are allocated to and accounted for in individual funds based
upon the purposes for which they are to be spent and the means by which
spending activities are controlled. The various funds are grouped, in
the financial statements in this report, into five generic fund types
and two broad fund categories as follows:
GOVERNMENTAL FUNDS
General Fund - The General Fund is the general operating fund of the City.
It is used to account for all financial resources escept 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 accumu-
lation of resources for, and the payment of, general long -term debt
principal, interest, and related costs.
Special Assessment Funds - Special Assessment Funds are used to account for
the financing of public improvements or services deemed to benefit the
properties against which special assessments are levied.
Note 1 - Summary of Significant Accounting Policies (Continued)
A. Fund Accounting (Continued)
PROPRIETARY FUNDS
Enterprise Funds - Enterprise Funds are used to account for operations (a)
that are financed and operated in a manner similar to private business
enterprises - where the intent of the governing body is that the costs
(expenses, including depreciation in some funds) of providing goods or
services to the general public on a continuing basis be financed or
recovered primarily through user charges; or (b) where the governing body
has decided that periodic determination of revenues earned, expenses
incurred, and /or net income is appropriate for capital maintenance, public
policy, management control, accountability, or other purposes.
B. Measurement Focus
The accounting and reporting treatment applied to the fixed assets and long-
term liabilities associated with a fund are determined by.its measurement
focus. All governmental funds are accounted for on a spending or "financial
flow" measurement focus. This means that only current assets and current
liabilities are generally included on their balance sheets; accordingly,
their reported fund balance is considered a measure of "available spendable
resources ". Governmental fund operating statements present increases and
decreases in net current assets. Accordingly, they are said to present a
summary of sources and uses of "available spendable resources" during a
period.
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.
12
CITY OF EDINA, MINNESOTA
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1981
Note 1 - Summary of Significant Accounting Policies (Continued)
B. Measurement Focus (Continued)
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.
Depreciation of exhaustible fixed assets used by proprietary funds is charged
as an expense against their operations (see Note 2). Accumulated depreciation
is reported on proprietary fund balance sheets. Depreciation has been
provided over the estimated useful lives using the straight -line method.
The City follows the practice of including, as part of property, plant
and equipment of these funds, the cost of collection systems which are
paid for by assessments against benefited property.
C. Basis of Accounting
Basis of accounting refers to when revenues and expenditures or expenses
are recognized in the accounts and reported in the financial statements.
Basis of accounting relates to the timing of the measurements made,
regardless of the measurement focus applied.
The governmental fund types are accounted for using the modified accrual
basis of accounting. Their revenues are recognized when they become measurable
and available as net current assets.
Expenditures are generally recognized under the modified accrual basis of
accounting when the related fund liability is incurred. Exceptions to this
general rule include: (1) accumulated unpaid vacation, sick pay, and other
employee amounts which are not accrued; and (2).interest on long -term debt
which is recognized when due except in the special assessment fund where
current portions are accrued.
The proprietary fund types are accounted for using the accrual basis of
accounting. Their revenues are recognized when they are earned, and their
expenses are recognized when they-are incurred. Unbilled utility service
receivables are recorded at year end.
Note 1 - Summary of Significant Accounting_ Policies (Continued)
D. Budgets and Budgetary Accounting
The City follows these procedures in establishing the budgetary data
reflected in the financial statements:
1. Prior to January 1, the budget is adopted by the City Council:
2. Formal budgetary integration is employed as a management control
device during the year for the General Fund and special revenue
funds..
3. Budgets for the General and special revenue funds are adopted on a
basis consistent with.generally accepted accounting principles (GAAP)
4. Reported budget amounts are as. originally adopted or as amended by
Council approved supplemental appropriations and budget transfers.
E. Cash and Temporary Investments
Cash surpluses are invested in certificates of deposit and short -term
government securities. Investment earnings are allocated to funds on
the basis of individual participation. Investments are stated at cost,
which approximates market, and are identified with specific funds.
F. Accumulated Unpaid Vacation and Sick Pay
Accrued vacation and sick pay are not recorded as liabilities at
December 31, 1981. 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, 1981 for
vacation and sick pay was $270,684 and $1,214,664 respectively, although
it is anticipated that only a percentage of the accrued sick pay will be used.
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.
Certain 1980 amounts have been reclassified to conform to the 1981
presentation.
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. Interfund eliminations have
not been made in the aggregation of, this data.
14
CITY OF EDINA. MINNESOTA
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1981
Note 1 - Summary of Significant Accounting Policies (Continued)
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.
Note 2 - Depreciation - Provrietary Fund Tvve Property and EauiDment
Certain property and equipment of the enterprise funds has not been depreciated
and related depreciation expense is not included as an operating expense. The amount
by which the related expense would affect the financial statements has not been
determined. The City has adopted the policy of not recording depreciation on items
of property and equipment which will not be replaced from operating revenues. Such
a policy is not in accordance with generally accepted accounting principles. The
following property and equipment has not been depreciated;
Cost
Swimming Pool Fund - Pool, bathhouse and filter system $ 316,054
Golf Course Fund - Buildings, well, parking lot and road 370,918
Recreation Center Fund - Land improvements and building 1,014,338
Gun Range Fund - Land improvements and building 63;822
Art Center Fund - Land improvements and building 112,695
$1,877,827
Note 3 - Bonded Debt
The City has three types of bonded debt outstanding at December 31,1981. There
are general obligation bonds, special assessment improvement bonds, and revenue bonds.
The first type of bond is payable solely from general property taxes. The second and
third types are payable primarily from special assessments and enterprise revenue
respectively with any deficiency to be provided for by general property taxes.
The bonded debt outstanding at December 31, 1981 is summarized as follows:
Maturities Interest rates Amount
General Obligation Bonds 1982 -1993 5.30 -11.00 $ 6,500,000.
Special Assessment Bonds 1982 -1986 4.25 -9.50 6,700,000
G.O. Revenue Bonds 1982 -1987 3.00 -5.25 585,000
$13.785.000
15
Note 3 - Bonded Debt (Continued)
Changes in bonded debt during the year were as follows:
Bonds
Bonds
Outstanding
Outstanding
January 1 Issued
Redeemed
December 31
.General Obligation Bonds $ 2,100,000 $4,500,000
$ 100,000
$ 6,500,000
Special Assessment Bonds 7,950,000 4,200,000
5,450,000.
6,700,000
G.O. Revenue Bonds 730,000
145,000
585,000
$10,780,000 $8,700,000
$5,695,000
$13,785,000
The City has the following revenue bonds outstanding at December
31,
1981:
..Golf Course Bonds of 1964
$290,000
G.O. Recreation Center Bonds, Series A of 1965
30,000
G.O. Recreation Center Bonds, Series B of 1965
15,000
G.O. Recreation Center Bonds, Series D of 1978
250,000
00
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, 1981,
including interest payments of $5,996,670 are as follows:
Year Ending General Special
December 31 Obligation Assessment
Revenue
Total.
1982 $ 679,725 $1,319,100 $
169,485
$ 2,168,310
1983 674,225 1,278,700
128,565
2,081,490
1984 1,118,725 4,938,300
123,745
. 6,180,770
1985 1,070,375 326,400
128,925
1,525,300
1986 1,021,875 313,200
53,500
1,388,575
1987 -1991 4,788,725
51,750
4,840,475
1992 -1996 1,596,350
1,596,350
$10,950,000 $8,175,700 $ 655,970
$19,781,670
$6,683,550 is available in the Debt Service Fund to service
the general obligation
bonds.
The City is in compliance with all significant bond covenants.
16
CITY OF EDINA, MINNESOTA
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31. 1981
Note 4 - Changes in General Fixed Assets
A summary of changes in general fixed assets during 1981 follows:
Balance
Retirements or.
Balance
January 1
Additions
transfers December 31
Land
$ 2,280,117
$ 1,000
$
2,281,117
Land improvements
1,321,402
84,215
1,405,617
Buildings
19493.,080
376,260
1,869,340
Furniture and fixtures
161,050
101,074.
262,124
Vehicles
139,048
38,856
$ 7,350
170,554
Tools
5,812
5,812
Election equipment
131,320
131,320
Engineering equipment
49,055
541
49,596
Fire equipment
422,699
76,031
5,960
492,770
. Highway equipment
1,039,550
97,852
3,999
1,133,403
Park equipment
197,914
31,777
229,691
Police equipment
302,524
519757
41,935
312,346.
Miscellaneous equipment
88,196
419457
3,178
126,47.5
Traffic signals
equipment
91,706
91,706
Parks
2,281,101
181,334
2,4629435
Construction in progress
20,523
( 20,523)
$10,025,097
$ 1,061,631
_ 62,422 $11,024,306
Note 5 - Proprietary Fund Property
and Equipment
A summary of proprietary fund
property and equipment
at December
31, 1981follows:
Property and
Accumulated
Net
Estimated
Enterprise funds
equipment
depreciation
book value
useful life
Land
$ 285,341
$ 285,341
- Golf course
820,300
820,300
-. Land improvements
141,613
$ 26,462
115,151
25
'. Water distribution system
8,7909322
2,705,912
69084,410
5 -50
Sewer collection system
109419,462
2,052,649
8,366,813
100
Major recreation facilities
1,646,406
1,646,406
Major water facilities
2,604,514
1,7989116
806,398
5 -25
Buildings - Liquor stores
727,488
170,974
556,514
25
Furniture and fixtures
381,814
217,923
163,891
10
Equipment and machinery
502,949
232,770
270,179
5 -10
Vehicles
32,531
18,554
13,977
5
Construction in progress
121,531
121,531
$26,474,271-
$ 7,223,360
$19,250,911
Note 6 - Metropolitan Waste Control Commission
The receivable and corresponding deferred revenue
of the enterprise
funds
from the
Metropolitan Waste Control Commission represents
the City's
share of equity in the
City's system which was acquired by the Commission
January
1, 1971. This
receivable
will be paid to the City by issuing
credits
annually through
1999 against
future sewer
billings.from the Commission.
These credits
will be reflected
in the statement of
income as received.
Note 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.
Note 7 — Prior Period Adjustments
The January 1, 1981 and 1980 fund balances /retained earnings
of the General Fund,
Park Bond Fund, Park Fund and the Recreation Center Fund have
been restated to reflect
reserve accounts as part of fund equity. Previously, these
amounts were reported as
reserves at variance with generally accepted accounting principles.
.The following is a summary of changes to previously reported
amounts. If no revenues
or expenditures /expenses are shown, there was no effect.
General Fund Restatement:
Fund balance
1980
1981 1980
Revenues Expenditures
Balances as previously
reported $ 551,97.1 $ 344,572
$5,955,459 $5,748,060
Restate the following reserve
accounts into fund balance:
Reserve for commitments $ 623,338 $ 728,088
$( 37,600) $ 77,938,
Reserve for inventory 10,000 10,000
Reserve for imprest cash 550 550
Dedicated police funds 105,181 110,291
( 5,110)
Other reserves 5,133 11,849
7,567 3,495
$ 744,202 $ 860,778
$( 35,143) $ 81,433
Balances as restated $1,296,173 $1,205,350
$5,920,316 $5,829,493
Park Fund Restatement:
Special Revenue Funds
Combined
1981 1980
Fund balance, January 1, as previously reported
$ 216,987 $ 364,535
Adjustment of park acquisition reserve
224,282 390,586
Fund balance, January 1, as restated
$ 441,269 $ 7555121
Park Bond Fund Restatement:
Debt Service Funds
Combined
1981 1980
Fund balance, January 1, as previously reported
$29558,683 $2,943,366
Adjustment of park improvement reserve
163,663 163,663
Fund balance, January 1, as restated
$2,722,346 j3�,107,029
18
CITY OF EDINA. MINNESOTA
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31. 1981
Note 7 - Prior Period Adjustments (Continued)
Recreation Center Fund Restatement:
Enterprise Funds
Combined
1981. 1980
Retained earnings,
January 1,
as previously reported
$19,516,039
$19,281,344
Adjustment of debt
retirement
reserve
52,300
52,300
Retained earnings,
January 1,
as restated
$19,568,339
$19,333,644
Note 8 - Notes Receivable
During 1977, the City sold several properties for notes or contracts receivable, the
balances of which were $58,536 in the Liquor Fund and $26,550 in the General Fund at
December 31, 1981. Maturity dates range from 1982 to 1992 with interest rates from
seven percent to 10.51 percent. Payments have been received according to the contract
schedules.
Note 9 - Retirement Plan
The City participates in a state -wide contributory pension plan under the Public
Employees' Retirement Association, Minnesota Statutes Chapter 353, which covers all
employees except certain temporary or seasonal employees. The City's contribution for
pension costs under the state -wide plan was $434,825 for the year ended December 31,
1981. Under existing Minnesota law, the City has no future contingent obligations or
commitments to the plan or its participants except to make continuing contributions as
determined from time to time by the State Legislature.
Note 10 - 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 recrea-
tional in nature such as; Swimming Pool, Golf Course, Recreation Center, Gun Range and
Art Center. Segment information for the year ended December 31, 1981 is as follows:
19
CITY OF EDINA, MINNESOTA
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1981
Note 10 - Segment Information for Enterprise Funds (Continued)
Other Total
enterprise enterprise
Water Sewer Liquor funds funds
Sales (less cost of
$5,140,879) $ 932,653 $ 932,653
Operating revenues $ 921,260 $1,712,360 $ 978,580 3,612,200
Depreciation 268,999 115,830 49,310 26,499 460,538
Net income (loss)
before transfers 85,138 ( 133,752) 385,592 ( 15,292). 321,686
Operating transfers out 400,000 400,000
Current capital
contributions
84,458
63,026
147,484
Property and equipment
Additions.
106,689
90,465
79,400
164,929
441,483.
Disposals
1,644
229,174
230,818
Net working capital
1,349,427
( 226,426)
642,407
(1,013,327).
752,081
Bonds and other long-
term liabilities
payable from
operating revenues
585,000
585,000
Total assets
8,417,878
8,806,990
2,715,378
2,431,783
22,372,029
Total equity
8,381,145
8,212,404
2,059,470
755,315
19,408,334
Note 11 - Deposits Pavable
Included in deposits payable are balances of $81,711 in the General Fund and $463,410
in the special assessment funds which represent the balance of monies received from
the Minnesota Department of Transportation for state -aid projects.which were incomplete
at December.31, 1981. Upon completion of the projects, deposits will be applied to
construction in progress.
Note 12 - 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 $786,337 have been made
during years ended December 31, 1975 through 1981, leaving a balance of $163,663 at
December 31, 1981, which is shown as a reservation of fund balance in the Park Bond
Fund.
Note 13 - 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, 1981., there was no unfunded liability.
20
CITY OF EDINA. MINNESOTA
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1981
Note 14 - Interfund Receivable and Pavable Balances
Such balances at December 31, 1981 were:
$4,386,762 $4,386,762
Note 15 - Reserved Fund Equit
The following Fund Equity balances as of December 31, 1981 have been reserved for the
reasons noted below:
General Fund
Finance 1982 budget
Interfund
Interfund
Fund
receivables
payables
General
$ 679,782
$ 654,116
Special Revenue
9,950
Park
533,923
68,211
Revenue Sharing
161,470
225,000
Nursing Services
942
Debt Service
$
257,782
Park Bond
160,035
Special Assessment
225,000
Permanent Improvement Revolving
205,840
5,566
Improvement Bond Redemption - I
1,743
685,402
Improvement Bond Redemption - II
903,567
1,743
Construction
471,641
1,210,283
Enterprise
Water
494,248
4,000
Sewer
3,251
4,094
Liquor.
418,564
481,445
Swimming Pool
5,000
Golf Course
561,941
Recreation Center
346,346
474,308
Gun Range
410
Art Center
10,653
$4,386,762 $4,386,762
Note 15 - Reserved Fund Equit
The following Fund Equity balances as of December 31, 1981 have been reserved for the
reasons noted below:
General Fund
Finance 1982 budget
$
138,782
Commitments
468,131
Dedicated funds
88,624
Other reservations
9,950
$
705,487
Special Revenue Funds
Park
Dedicated funds
$
257,782
Revenue Sharing
1982 budget transfer
225,000
Total Special Revenue Funds
$
482,782
21
CITY OF EDINA, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
(CONTINUED)
DECEMBER 31, 1981
Note 15 - Reserved Fund Equity (Continued)
Debt Service Funds .
Redevelopment Bond.
Debt service
$6,683,550
Park Bond
Bond proceeds reserved for
construction
163,663
Total Debt Service Funds
$6,847,213
Special Assessment Funds
Reserved for construction
$ 40,617
Reserved for debt service
303,678
Total Special Assessment
Funds _
$ 344,295
Total Fund Equity
. Reservations
$8,379,777
Note 16 - Fund Deficiencies /Deficits
Expenditures exceeded revenues in certain individual
funds for the year ended
December 31, 1981 as follows:
General Fund
$125,886
Park Fund
4,787
Park Bond Fund
18,066
Improvement Bond Redemption II Fund
103,242
Sewer Fund
133,752
Swimming Pool Fund
24,071
Recreation Center Fund
74,080
Gun Range Fund
2,064
Art Center Fund
7,499
Note 17 - Expenditures in Excess of Appropriations
Park Fund expenditures of $1,043,715 exceeded appropriations
by $94,339 in 1981. There
were no other individual fund expenditures in excess
of appropriations.
Petty cash and change funds
$ 550
$ 550
Cash
173,323
625,020
Investments
98,110
27,953
Land
24,500
24,500
Donated securities
995
995
U.S. Government securities
39,095
300,000
Taxes receivable
82,711
83,711
Unremitted
36,413
46,891
Delinquent
71,602
57,443
Allowance for uncollectible taxes
( 71,602)
( 57,443)
Accounts receivable
154,855
69,632
Contracts receivable
26,650
26,539
Due from other funds
679,782
376,700
Due from Edina HRA
292,977
901,035
Due from other governmental units
855,618
118,168
Inventory
10,000
10,000
Total assets
$2,255,663
$2,500,030
LIABILITIES AND FUND BALANCE
Liabilities
Accounts payable
$ 186,249
$ 157,421
Due to other funds
654,116
796,788
Due to other governmental units
98,110
27,953
Accrued payroll
25,095
137,716
Deposits payable
Dedicated funds
39,095
268
Other
82,711
83,711
Total liabilities
$1,085,376
$1,203,857 .
Fund balance
Reserved
$ 705,487
$ 918,452 .
Unreserved - Undesignated
464,800
377,721
Total fund balance
$1,170,287
$1,296,173
Total liabilities and fund balance
$2.255.663
$2.500.030
23
CITY OF EDINA, MINNESOTA
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES AND FUND BALANCE
YEAR ENDED DECEMBER 31, 1981
(with comparative actual amounts for year ended December 31, 1980)
Other sources
Transfers from other funds
295,000
1981
1980
Total revenues and other sources
Budget
Actual
Actual
Revenues
Taxes
$3,098,870
$3,056,144
$2,826,696
Licenses and permits
198,600
335,480
229,646
Intergovernmental revenues
Federal
10,120
9,376
11,645
State
1,948,258
1,981,080
1,876,396
County
98,986
104,986
93,810
Charges for services
300,300
328,346
258,908.
Fines and forfeitures
246,800
256,447
236,801
Other
22,500
42,978
21,295
Interest on investments
35,000
49,459
39,806
Sales and rental of property
7,000
21,252
10,313
Total revenues
$5,966,434
$6,185,548
$5,605,316
Other sources
Transfers from other funds
295,000
295,000
315,000
Total revenues and other sources
$6,261,434
$6,480,548
$5,920,316
Appropriated from prior year's fund
balance to finance 1981 budget
481,500
$6,742,934
Expenditures
General government
$ 843,534
$ 842,863
$ 754,849
Public safety
3,320,593
3,260,927
2,929,500
Public works
2,294,406
2,117,412
1,962,484
Unallocated general expenditures
284,401
385,232
167,660
Total expenditures
$6,742,934
$6,606,434
$5,814,493
Other use
Transfers to other funds 15,000
Total expenditures and other use $6,742,934 $6,606,434 $5,829,493
Net increase (decrease) in fund
balance $( 125,886) $ 90,823
Fund balance January 1, as restated (Note 7) 1,296,173 1,205,350
Fund balance December 31 $1,170,287 $1,296,173
24
CITY OF EDINA, MINNESOTA
GENERAL FUND
STATEMENT OF REVENUES
YEAR ENDED DECEMBER 31, 1981
(with comparative actual amounts for year ended December 31, 1980)
1981 1980
Budget Actual Actual
Taxes
General property tax $3,073,870 $3,036,971 $2,795,369
Penalties and interest 25,000 19,173 31,327
Total taxes $3,098,870 $3,056,144 $2,826,696
Licenses and permits $ 198,600 $ 335,480 $ 229,646
Intergovernmental revenues
Federal aid
$
10,120
$
9,376
$
11,645
State grants
Local government aid
931,313
940,003
980,530
Homestead credit
784,809
784,809
645,029
State highway aid
54,000
54,465
54,465
Police aid
120,000
102,382
94,890
Planning aid
21,774
6,223
8,975
State aid - Trees
35,000
78,210
74,992.
Other state aid
3,362
14,988
17,515
County grants
Health programs
96,986
104,986
93,810
Total intergovernmental revenues
$2,057,364
$2,095,442
$1,981,851
Charges for services
Engineering, clerical charges
and searches
$
141,000
$
163,786
$
137,331
Planning fees
10,000
10,269
18,920
False alarms
16,218
Housing and Redevelopment Authority
5,000
Charges to other funds
61,800
61,800
48,600
Ambulance service
75,000
67,692
42,860
Other
7,500
8,581
11,197
Total charges for services
$
300,300
$
328,346
$
258,908
Fines and forfeitures
$
246,800
$
256,447
$
236,801
Miscellaneous revenues
Interest $ 35,000 $ 49,459 $ 39,806
Sale and rental of property 7,000 21,252 10,313
Donations 1,000 4,965 1,665
Other 21,500 38,013 19,630
Total miscellaneous revenues $ 64,500 $ 113,689 $ 71,414
Total revenues $5,966,434 $6,185,548 $5,605,316
CITY OF EDINA, MINNESOTA
GENERAL FUND
STATEMENT OF REVENUES (CONTINUED)
YEAR ENDED DECEMBER 31, 1981
(with comparative actual amounts for year ended December 31, 1980)
1981
Budget
Other sources
Transfers from other funds
Revenue Sharing Fund $ 225,000
Liquor Fund 70,000
Total transfers $ 295,000
Total revenues and other sources $6,261,434
Actual
$ 225,000
70,000
$ 295,000
$6,480,54-8
1980
Actual
$ 225,000
90,000
$ 315,000
$5.920,316
25
26
CITY OF EDINA. MINNESOTA
GENERAL FUND
STATEMENT OF EXPENDITURES
YEAR ENDED DECEMBER 31, 1981
(with comparative actual amounts for year ended December 31, 1980)
Planning
Personal services
1981
$ 69,643
1980
Contractual services
Budget
Actual
Actual
General government
400
162
4,044
Mayor and Council
23,760
23,760
21,600
Personal services
$ 22,150
$ 21,517
$ 14,398
Contractual services
1,200
1,079
370
Commodities
100
10
Central services
9,060
9,060
9,240
$ 32,510
$ 31,666
$ 24,008
Planning
Personal services
$ 73,269
$ 69,643
$ 67,298
Contractual services
975
264
599
Commodities
400
162
4,044
Central services
23,760
23,760
21,600
Capital outlay
$ 98,404
$ 93,829
$ 93,541
Administration
Personal services $ 155,331 $ 155,193 $ 137,967
Contractual services 19,100 19,007 23,192
Commodities 625 192 482
Central services 43,320 43,320 38,400
$ 218,376 $ 217,712 $ 200,041
Finance
Personal services
$ 117,249
$ 115,622
$ 90,701
Contractual services
22,134
21,361
20,893
Commodities
700
694
139
Central services
27,120
27,120
24,960
Capital outlay
14,900
14,803
$ 182,103
$ 179,600
$ 136,693
Election
Personal services
$ 7,477
$ 6,223
$ 26,528
Contractual services
700
249
10,872
Commodities
1,000
168
4,064
Central services
5,040
5,040
4,560
Capital outlay
300
250
$ 14,517
$ 11,930
$ 46,024
Assessing
Personal services
$ 107,164
$ 105,322
$ 86,961
Contractual services
5,500
5,285
3,391
Commodities
1,700
1,593
708
Central services
30,660
30,660
28,620
Capital outlay
7,400
5,563
$ 152,424
$ 148,423
$ 119,680
Legal and court services
Personal services $ 28,000 $ 27,950 $ 28,726
Contractual services 117,200 131,753 106,136
$ 145,200 $ 159,703 $ 134,862
Total general government $ 843,534 $ 842,863 $ 754,849
27
CITY OF EDINA. MINNESOTA
GENERAL FUND
STATEMENT OF EXPENDITURES (CONTINUED)
YEAR ENDED DECEMBER 31, 1981
(with comparative actual amounts for year ended December 31, 1980)
Fire protection
Personal services
1981
$ 772,061
1980
Contractual services
Budget
Actual
Actual
Public safety
25,000
24,949
19,868
Police protection
224,400
224,400
217,260
Personal services
$1,260,258
$1,236,183
$1,099,436
Contractual services
50,375
49,056
42,660
Commodities
14,745
13,216
12,913
Central services
413,340
413,340
396,120
Capital outlay
70,000
51,757
72,900
$1,808,718
$1,763,552
$1,624,029
Fire protection
Personal services
$ 758,490
$ 772,061
$ 679,683
Contractual services
38,200
38,111
28,464
Commodities
25,000
24,949
19,868
Central services
224,400
224,400
217,260
Capital outlay
90,000
76,031
33,619
Total public safety
$1,136;090
$1,135,552
$ 978,894
Civil defense
Personal services
$ 4,150
$ 588
$ 371
Contractual services
6,022
5,711
1,871
Commodities
1,920
1,290
396
Capital outlay
4,750
24,840
7,066
Capital outlay
$ 16,842
$ 7,589
$ 9,704
Public health
Personal services
$ 63,493
$ 60,705
$ 51,855
Contractual services
103,815
103,369
95,828
Commodities
2,840
2,765
2,480
Central services
24,840
24,840
22,860
Capital outlay
400
7,919
311'
Total public safety
$ 195,388
$ 191,679
$ 173,334
Animal control
Personal services
$ 11,444
$ 10,490
$ 12,410
Contractual services
4,250
4,035
2,754
Commodities
500
476
445
Central services
7,320
7,320
6,600
Capital outlay
8,000
7,919
$ 121,330
Total public safety
$ 31,514
$ 30,240
$ 22,209
Inspections
Personal services
$ 101,903
$ 102,421
$ 88,733
Contractual services
540
402
5,214.
Commodities
438
332
1,523
Central services
29,160
29,160
25,860
$ 132,041
$ 132,315
$ 121,330
Total public safety
$3,320,593
$3,260,927
$2,929,500
28
CITY OF EDINA, MINNESOTA
GENERAL FUND
STATEMENT OF EXPENDITURES (CONTINUED)
YEAR ENDED DECEMBER 31, 1981
(with comparative actual amounts for year ended December 31, 1980)
Engineering
Personal services
1981
$ 171,980
1980
Contractual services
Budget
Actual
Actual
Public works
8,300
8,056
8,779
Administration
57,660
57,660
49,620
Personal services
$ 47,758
$ 47,898
$ 41,351
Contractual services
200
186
52
Commodities
42
Central services
14,880
14,880
13,440
$ 62,838
$ 62,964
$ 54,885
Engineering
Personal services
$ 170,721
$ 171,980
$ 167,217
Contractual services
3,660
5,339
4,518
Commodities
8,300
8,056
8,779
Central services
57,660
57,660
49,620
Capital outlay
540
540
543
$ 240,881
$ 243,575
$ 230,677
Supervision and overhead
Personal services
$ 138,000
$ 137,943
$ 124,784
Contractual services
200
155
179
Commodities
300
252
325
Central services
150,660
150,660
145,680
$ 289,160
$ 289,010
$ 270,968
Street maintenance
Personal services $ 201,840 $ 201,574 $ 212,753
Contractual services 17,500 17,345 27,207
Commodities 147,205 146,666 157,357
Central services 173,520 173,520 154,920
$ 540,065 $ 539,105 $ 552,237
Street lighting
Personal services $ 12,900 $ 12,814 $ 9,012
Contractual services 200,900 200,768 175,535
Commodities 6,800 6,673 8,390
Central services 2,700 2,700 2,400
$ 223,300 $ 222,955 $ 195,337
Street name signs
Personal services
$ 7,875
$ 7,837
$ 7,542
Contractual services
100
24
Commodities
5,300
5,224
5,166
Central services
5,640
5,640
5,040
$ 18,915
$ 18,725
$ 17,748
Traffic control
Personal services $ 25,050 $ 24,633 $ 19,878
Contractual services 27,830 29,742 27,221
Commodities 14,250 14,063 17,231
Central. services 10,800 10,800 9,600
$ 79,930 $ 79,238 $$ 73,936
29
CITY OF EDINA,
MINNESOTA
GENERAL
FUND
STATEMENT OF EXPENDITURES (CONTINUED)
YEAR ENDED DECEMBER 31, 1981
(with comparative actual amounts for
year ended December 31,
.1980)
1981
1980
Budget
Actual
Actual
Public works (Continued)
Bridges
Personal services
$ 660
$
561
$
1,282.
Commodities
650
595
1,112
Central services
2,700
2,700
2,40.0
$ 4,010
$
3,856
$
4,794
Storm drainage
Personal services
$ 18,690
$
18,313
$
39,980
Contractual services
8,990
8,914
6,379
Commodities
5,400
5,324
11,934
Central services
10,800
10,800
9,600
$ 43,880
$
43,351
$
67,893
City properties
Personal services
$ 140,000
$
133,859
$
69,498
Contractual services
106,700
62,697
43,258
Commodities
14,350
11,307
7,066
Central services
15,480
15,480
13,800
$ 276,530
$
223,343
$
133,622
Sidewalks and ramp
Personal services
$ 13,437
$
12,840
$
8,012
Contractual services
22,300
22,212
14,575.
Commodities
3,600
3,434
5,973
Central services
3,360
3,360
3,000
$ 42,697
$
41,846
$
31,560
Other expenditures
Capital outlay
$ 150,000
$
77,329
$
99,038
Building improvements
322,200
272,115
229,795
$ 472,200
$
349,444
$
328,833
Total public works
$21,294,406
$2,117,412
$1,962,484
Unallocated general expenditures
Human Rights Commission
$ 32;550
$
26,360
$
.19,247
Historical Preservation
2,000
9,420
6,565
South-Hennepin Human Services Council
2,901
2,901
2,588
Central services - Capital outlay
19,200
18,961
21,887
City's share of special assessments
84,300
84,248
68,920
Dutch elm subsidy
43,300
28,892
42,260
Recycling
10,600
12,672.
9,476
Fireworks
2,750
2,500
2,500
Bike safety
478
495
Contingencies
50,300
58,203
81,238
Other
975
20,523
$ 247,901
$
245,610
$
275,698
Central services
$ 36,500
$
139,622
$(
108,038)
Total expenditures
$6,742,934
$6,606,434:
$5,814,493 .
30
CITY OF EDINA, MINNESOTA
GENERAL FUND
STATEMENT OF EXPENDITURES (CONTINUED)
YEAR ENDED DECEMBER 31, 1981
.(with comparative
actual amounts for year ended December 31,
1980)
1981
1980
Budget Actual
Actual
Other uses
Transfers to other funds
. Swimming Pool
$
7,500
Recreation Center
7,500
Total other uses
$ -0- $ -0-
$
15,000
Total expenditures
and other uses $6,742,934 $6,606,434
$5,829,493
31
CITY OF EDINA, MINNESOTA
GENERAL FUND
SCHEDULE OF CENTRAL SERVICES EXPENDITURES
YEAR ENDED DECEMBER 31, 1981
(with comparative actual amounts for year ended. December 31, 1980)
Public Works building
Personal services $ 24,920 $ 34,077 $ 17,433
Contractual services 44,850 44,828 42,519
Commodities 12,250 12,198 7,762
Fixed charges 4,020 4,020 3,420
$ 86,040 $ 95,123 $ 71,134
Equipment operations
Personal services
1981
$ 159,077
$ 149,090
1980
61,500
Budget
Actual
Commodities
Actual
General
301,065
Fixed charges
85,140
85,140
Contractual services
$1,119,720
$1,154,187
$
892,398
Commodities
17,300
17,237
$1,630,462
16,219
1,849,380
$1,137,020
$1,171,424
$
908,617
City Hall
$( 108,038)
Personal services
$ 26,960
$ 49,886
$
34,019
Contractual services
24,340
25,369
24,657
Commodities
16,900
20,137
11,900
Fixed charges
3,720
3,720
4,320
$ 71,920
$ 99,112
$
74,896
Public Works building
Personal services $ 24,920 $ 34,077 $ 17,433
Contractual services 44,850 44,828 42,519
Commodities 12,250 12,198 7,762
Fixed charges 4,020 4,020 3,420
$ 86,040 $ 95,123 $ 71,134
Equipment operations
Personal services
$ 159,160
$ 159,077
$ 149,090
Contractual services
61,500
61,412
50,420
Commodities
285,100
317,714
301,065
Fixed charges
85,140
85,140
75,240
$ 590,900
$ 623,343
$ 575,815
Total Central Services expenditures
$1,885,880
$1,989,002
$1,630,462
Less allocation to other activities
1,849,380
1,849,380
1,738,500
Net Central Services
$ 36,500
$ 139,622
$( 108,038)
32
CITY OF EDINA, MINNESOTA
SPECIAL REVENUE FUNDS
COMBINING BALANCE SHEET
DECEMBER 31, 1981
(with comparative totals for December 31, 1980)
ASSETS
Cash (deficit)
Investments
Unremitted taxes receivable
Accounts receivable
Due from other funds
Due from other
governmental units
Total assets
LIABILITIES AND
FUND BALANCE
Liabilities
Revenue
Sharing
Nursing
Services
Totals
Park 1981 1980
$ 377,324 $ 34,763 $(345,036) $ 67,051 $ 219,290
326,637
4,358 4,358 4,159
1,315
161,470 942* 533,923 696,335 11,994
44,413 44,413 111,070
$ 583,207 $ 35,705 $ 193,245 $ 812,157 $ 674,465
Accounts payable
$
53,835
$
53,835
$
9,951
Contracts payable
22,500
Due to other funds
$
225,000
68,211
293,211
165,761
Accrued payroll
3,607
3,607
26,341
Deposits
8,153
8,153
8,643
Total liabilities
$
225,000
$
133,806
$
358,806
$
233,196
Fund balance (deficit)
Reserved
$
225,000
$
257,782
$
482,782
$
449,282
Unreserved - Undesignated
133,207
$ 35,705
(198,343)
( 29,431)
(
8,013)
Total fund balance
$
358,207
$ 35,705 $
59,439
$
453,351
$
441,269
Total liabilities and
fund balance
$ 583,207
$. 35,705 $ 193,245
$ 812,157
$ 674,465
33
CITY OF
EDINA, MINNESOTA
SPECIAL REVENUE
FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND
FUND BALANCE
YEAR ENDED DECEMBER
31, 1981
(with comparative totals
for year
ended December
31, 1980)
Revenue
Nursing
Totals
Sharing
Services
Park
1981
1980
Revenues
Taxes
$ 459,538
$ 459,538
$ 368,591
Intergovernmental revenues
Federal grant - Federal
Revenue Sharing
$213,843
213,843
223,171
State grant -
Homestead credit
117,338
117,338
87,959
Charges for services
27,401
27,401
73,372
Miscellaneous revenues
Interest
27,084
$ 942
19,095
47,121
30,629,
Other
5,056
5,056
5,296
Parkland dedication
80,500
80,500
128,603
Total revenues
$240,927
$ 942
$ 708,928
$ 950,797
$ 917,621
Other sources - Transfers
from other funds
330,000
330,000
230,000
Total revenues and
other sources
$240,927
$ 942
$1,038,928
$1,280,797
$1,147,621
Expenditures
Current expenditures
$ 785,141.
$ 785,141
$ 789,226
Capital outlay
258,574
258,574
161,928
Total expenditures
$1,043,715
$1,043,715
$ 951,154
Other uses
Transfers to other funds
$225,000
225,000
499,300
Decrease in deposits
11,019
Total expenditures
and other .uses
$225,000
$1,043,715
$1,268,715
$1,461,473
Net increase (decrease)
-
in fund balance
$ 15,927
$ 942
$( 4,787)
$ 12,082
$( 313,852)
Fund balance January 1,
as restated (Note 7)
342,280
34,763
64,226
441,269
755,121
Fund balance December 31
$358,207
125,705
$ 59,439
$ 453,351
$ 441,269
34
CITY OF EDINA, MINNESOTA
REVENUE
SHARING FUND
STATEMENT OF REVENUES,
EXPENDITURES AND FUND BALANCE
YEAR ENDED
DECEMBER 31, 1981
(with comparative actual amounts for year ended December 31, 1980)
1981
1980
Budget
Actual
Actual
Revenues
Federal.Revenue Sharing Grant
$225,000
$213,843
$223,171
Interest on investments
27,084
15,853
Total revenues
$225,000
$240,927
$239,024
Expenditures
Contractual services
$ 595
Other uses - Transfer to General Fund
$225,000
$225,000
225,000
. Total expenditures and other.uses
$225,000
$225,000
$225,595
Net increase in fund balance
$ -0-
$ 15,927
$ 13,429
Fund balance January 1
342,280
328,851
Fund balance December 31
$358,207
$342,280
NURSING
SERVICES FUND
STATEMENT OF REVENUES,
EXPENDITURES AND FUND BALANCE
YEAR ENDED
DECEMBER 31, 1981
(with comparative actual amounts for year ended December 31, 1980)
1981
1980
Budget
Actual
Actual
Revenue
Interest on investments
$ 942
Net increase in fund balance
$ -0-
$ 942
Fund balance January 1
34,763
34,763
Fund balance December 31
$ 35.705
$ 34,763
35
CITY OF EDINA,
MINNESOTA
PARK FUND
STATEMENT OF
REVENUES, EXPENDITURES AND
FUND
BALANCE
YEAR ENDED DECEMBER
31, 1981
(with comparative actual amounts for
year ended
December 31,
1980)
1981
1980
Budget
Actual
Actual
Revenues
General property taxes
$
459,538
$
459,538
$
368,591
State grant
Homestead credit
117,338
117,338
87,959
Registration fees
32,000
27,401
73,372
Interest on investments
9,000
19,095
14,776
Parkland dedication
80,500
128,603
Sale of property
3,171
1,849
Other revenues
1,500
1,885
3,447
Total revenues
$
619,376
$
708,928
$
678,597
Other sources - Transfer from
Liquor Fund
330,000
330,000
230,000
Total revenues and other
sources $
949,376
$1,038,928
$
908,59.7
Expenditures
Administration
Personal services
$
119,772
$
124,593
$
115,546
Contractual services
2,850
4,087
3,467
Commodities
500
1,673
649
Central services
150,780
150,780
147,360
Training
1,500
1,589
1,296
Paid leave
38,600
41,388
36,165
Total administration
$
314,002
$
324,110
$
304,483
Recreation
Ice skating
$
22,540
Baseball and softball
$
5,200
$
9,640
8,425
Skating and hockey
19,000
20,449
23,822
Tennis instruction
5,500
5,743
3,915
Playgrounds
10,800
17,399
10,702
Swimming instruction
24,200
19,546
20,210
Senior citizens
8,500
5,029
2,077
Miscellaneous and special
activities
16,600
13,954
19,126
Other
11,879
Total recreation
$
89,800
$
91,760
$
122,696
Maintenance
Mowing
$
34,924
$
45,997
$
32,178
Special turf care
72,700
100,021
79,993
Plantings and trees
28,880
22,654.
25,197
Litter removal
19,400
33,440
33,666
Parking areas
11,780
4,853
15,629
Buildings and equipment
94,390
90,182
105,379
Skating rinks
83,500
72,124
69,410
Total maintenance
$
345,574
$
369,271
$
361,452
36
CITY OF EDINA, MINNESOTA
PARK FUND
STATEMENT OF REVENUES, EXPENDITURES AND FUND BALANCE (CONTINUED)
YEAR ENDED DECEMBER 31, 1981
(with comparative actual amounts for year ended December 31, 1980)
1981
1980
Budget
Actual
Actual
Expenditures (Continued)
Capital outlay
Equipment
$ 120,000
$ 84,944.
$ 22,573
Park construction
80,000
1.73,630
139,355
Total capital outlay
$ 200,000
$ 258,574
$ 161,928
Total expenditures
$ 949,376
$1,043,715
$ 950,559
Other uses
Transfer to Park Construction Fund
274,300
Decrease in deposits
11,019
Total expenditures and other uses
$ 949,376
$1,043,715
$1,235,878
Net increase (decrease) in fund balance
$ —0—
$( 4,787)
$( 327,281)
Fund balance January 1, as restated (Note
7)
64,226
391,507-
Fund balance December 31
$ 59,439
64,226
37
CITY OF EDINA, MINNESOTA
DEBT SERVICE
FUNDS
COMBINING BALANCE SHEET
.
DECEMBER 31,
1981
.(with comparative totals for December 31,
1980)
Redevelopment
Park
Totals
Bond
Bond
1981
1980
ASSETS
Cash
$ 310,509
$ 310,509
$ 323,096
Investments
163,319
Taxes receivable
Unremitted
186:
186
2,381
Delinquent
1,759
1,759
Allowance for uncollectible
taxes
( 1,759)
( 1,759)
Due from other funds
160,035
160,035
Due from Edina Housing and
Redevelopment Authority
$6,683,550
6,683,550
2,233,550
Total assets
$6,683,550
$ 470,730
$7,154,280
$21722,346
FUND BALANCE
Fund balance
. Reserved
$6,683,550
$ 163,663
$6,847,213
$2,722,346 _
Unreserved
307,067
307,067
Total fund balance
$6,683,550
1__470,730
$7,154,280
1? ,722,346
CITY OF EDINA, MINNESOTA
DEBT SERVICE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES. AND FUND BALANCE
YEAR ENDED DECEMBER 31, 1981
(with comparative totals for year ended December 31, 1980)
Revenues
General property taxes
Interest
Advances from HRA
Other source
Bonds issued
Total revenues and other
sources
Expenditures
Bond principle
Interest and service charges
Other use
Write -off uncollectible taxes
Total expenditures and
other use
Net increase (decrease) in
fund balance
Fund balance January 1,
as restated (Note 7)
Fund balance December 31
Redevelopment
Park
Totals
$ 142,251
Bond
Bond
1981
1980
$
1,030
$ 1,030
126,695
145,261
31,961
31,961 $
13,860
$ 125,638
125,638
128,391
$ 125,638 $
32,991
$ 158,629 $
142,251
4,500,000 4,500,000
$4,625,638 $
32,991
$4,658,629
$ 142,251
$6,683,550
$ 50,000 $
50,000
$ 100,000
$ 350,000
125,638
1,057
126,695
145,261
$ 175,638 $
51,057
$ 226,695
$ 495,261
31,673
$ 175,638 $ 51,057 $ 226,695 $ 526,934
$4,450,000 $( 18,066) $4,431,934 $( 384,683)
2,233,550
488,796
2,722,346
3,107,029
$6,683,550
$ 470,730
$7,154,280
$2,722,346
39
r . . 40
CITY OF EDINA, MINNESOTA
SPECIAL ASSESSMENT FUNDS
COMBINING BALANCE SHEET
DECEMBER 31, 1981
F, (with comparative totals for December 31, 1980)
t
'
r,
r
Permanent
Improvement
Revolving
ASSETS
Cash (deficit)
$ 216,611
Investments
t Accounts receivable
Special assessments receivable
Unremitted
302
Delinquent
403
Deferred
12,314
City's share
- Allowance for uncollectible receivables
( 1,019)
Loans to other funds
200,000
Due from other funds
5,840
? Due from other governmental units
U.nassessed °construction costs
is
212
Construction in progress
Current
Deferred
ti
Total assets
S 434,663
LIABILITIES AND FUND BALANCE
c
Liabilities
Accounts payable
' Contracts payable
Loans from other funds
Due to other funds
$ 5,566
Due to other governmental units.
Accrued interest on bonds
Deposits payable
Deferred revenue
t Bonds payable
Total liabilities
$ 5,566
Fund balance
Reserved for debt service
Reserved for construction
Unreserved - Undesignated
$ 429,097
Total fund balance
f.
$ 429,097
Total liabilities and fund balance
$ 434,663
41
Improvement
Improvement
Bond
Bond
Totals
Redemption I
Redemption II
Construction
1981
1980
$ 2,428,477
$ 371,564
$( 878,292)
$ 2,138,360
$ 1,830,523
470,995
470,995
481,575
1,615
1,615
16,173
.9,046
25,521
36,939
47,401
17,596
65,400
4,215,492
3,183,488
7,411,294
8,269,019
211,754
211,754
211,754
( 258,176)
( 176,771)
( 435,966)
( 413,451)
861,124
1,061,124
1,783,456
1,743
42,443
471,641
521,667
1,425,859
256,900
604,428
29,003
99,693
733,336
690,563
2,076,692
2,076,692
1,462,336
619,561
619,561
302,598
$ 7,738,287
$ 4,337,493
$ 2,390,910
$14,901,353
$16,338,011
$ 103
$ 9,764
$ 287
$ 10,154
619,561
619,561
$ 302,598
.
1,061,124
1,061,124
1,783,456
685,402
1,743
149,159
841,870
777,460
4,996
1,195
6,191
155,419
15,433
99,813
115,246
69,650
520,162
520,162
523,405
225,251
225,251
217,694
2,500,000
4,200,000
6,700,000
7,950,000
$ 3,431,185
$ 4,312,515
$ 2,350,293
$10,099,559
$11,779,682
$ 278,700
$ 24,978
$ 303,678
$ 539,013
$ 40,617
40,617
40,617
4,028,402
4,457,499
.3,978,759
$ 4,307,102
$ 24,978
$ 40,617
$ 4,801,794
$ 4,558,389
$ 7,738,287
$ 4,337,493
$ 2,390,910
$14,901,353
$16,338,071
CITY OF EDINA,
SPECIAL ASSESS
COMBINING STATEMENT OF REVENUES,
YEAR ENDED DEM
(with comparative totals for ye
Revenues
Interest
Investments
Special assessments
Bonds issued
State aid
Reimbursements from other funds
Total revenues
Other sources
Capitalized interest
Assessment.adjustments
Total other sources
Total revenues and other source:
Expenditures
Interest
Paying agent service charges
Bond issue costs
Bond discount
Construction costs
Total .expenditures
Other use
Assessment adjustments
Total expenditures and other use
Net increase (decrease) in fund balance
Fund balance January 1
Fund balance December 31
$ 451
$ 451
$ 6,180
422,917
$ 429,097
43
Improvement
Improvement
Bond
Bond
Totals
Redemption I
Redemption II
Construction
1981
1980
$ 130,705
$ 6,636
$
143,181
$ 52,832
240,950
229,953
471,694
519,463
28,817
28,817
7,226
897,836
$1,794,187
1,794,187
4,316,130
$ 371,655
$ 265,406
$1,794,187
$2,437,879
$5,793,487
$ 47,805
$
47,805
$ 398,193 .
$ 125,307
125,307
44,870
$ 125,307
$ 47,805
$
173,112
$ 443,063
$ 496,962
$ 313,211
$1,794,187
$2,610,991
$6,236,550
$ 156,057
$ 348,688
$
504,745
$ 409,355
438
1,847
2,285
684
5,942
5,942
6,760
33,180
33,180
$1,794,187
1,794,187
5,213,966
$ 156,495
$ 389,657
$1,794,187
$2,340,339
$5,630,765
$ 26,796
$ 27,247
$ 132,612
$ 156,495
$ 416,453
$1,794,187
$2,367,586
$5,763,377
$ 340,467
$( 103,242)
$ -0-
$
243,405
$ 473,173
. 3,966,635
128,220
40,617
4,558,389
4,085,216
$4,307,102
1_14,-978
$ 40,617
$4,801,794
S4 }558,389
CITY OF EDINA, MINNESOTA
PROPRIETARY FUND TYPE - ENTERPRISE FUNDS
COMBINING BALANCE SHEET
DECEMBER 31, 1981
(with comparative totals for December 31, 1980)
ASSETS
Current assets
Petty cash and change funds
Cash (deficit)
Investments
Receivables
Accounts
Customers
Assessments
Notes
Due from other funds
..Due from other governmental units
Inventory
Prepaid expenses
Total current assets
Property and equipment, less
accumulated depreciation
Other assets
Loans to other funds
Receivable - Metropolitan Waste
Control Commission
Notes receivable - Less current
portion above
Total other assets
Total assets
$8,417878 $8,806.,990 $2.715,378
Water
Sewer
Liquor
$
3,800
$
760,071
$(
486,560)
346,357
625
216,760
328,100
1,278
.8,803
394,248
3,251
.3,564
10,799
924,639
4,282
11,152
$1,386,160
$( 153,306)
$1,298,315
$6,931,718_
$8,438,830
$ .952,330
$
100,000
$
415,000
$
521,466
49,733
$
100,000
$
521,466
$
464,733
$8,417878 $8,806.,990 $2.715,378
45
Swimming
Golf
Recreation
Gun
Art
Totals
Pool
Course
Center
Range
Center
1981
1980.
$ 850
$ 700
$ 100
$
5,450
$
4,675
$(80,848)
( 126,306)
( 535,498)
$(20,887)
(145,450)
(
289,121)
(
657,297)
12,728
12,728
176,047
1,331
29100
4,056
.229087
544,860
489,160
1,27.8
1,220
8,803
9,151
5,000
46,346
410
452,819
262,221
32,401
4,400
36,801
26,132
450
250
5,673
941,811
875,162
15,434
127,277
$(74,517)
$( 112,728)
$( 453,501)
$(15,827)
$(139,677)
$ 1,734,919
$ 1,335,835
$328,298
$1,253,632
$1,027,706
64,712
$ 253,685
$19,250,911
$19,499,551
$ .300,000
$
815,000
$
815;000
521,466
560,083
49,733
54,707
$ 300,000
$ 1,386,199
$ 1,429,790
5253.781
$1.140,904
S 874,205
S 48,885.
S 114,008
$22,372,029
$22,265,176
46
CITY OF EDINA,
MINNESOM
PROPRIETARY FUND TYPE
- ENTERPRISE FUNDS
COMBINING BALANCE SHEET (CONTINUED)
.
DECEMBER 31, 1981
(with comparative totals
for December 31,
1980)
Water
Sewer
Liquor
LIABILITIES AND RETAINED EARNINGS
Current liabilities
Accounts payable
$ 29,964
$ 9,197
$ 131,744
Due'to other funds
4,000
4,0.94
481,445
Due to other governmental units
1,755
58,871
36,124
Accrued payroll
1,.014
958
6,595
Accrued interest
Bonds payable
Total current liabilities
$ 36,733
$ 73,120
$ 655,908
Other liabilities
Loan from other funds
Deposits
Deferred revenue
$ 521,466.
Long -term liability -_ Bonds payable, less
current portion above
Total.other liabilities
$ 521,466
Total liabilities
$ 36,733
$ 594,586
$. 655,908
Retained earnings
Invested in property and equipment
$1,007,151
$ 27,397
$ 952,330
Contributed
5,924,567
8,411,433
Reserved for debt retirement
Unreserved - Undesignated
1,449,427
( 226,426)
1,107,140
Total retained earnings
$8,381,145
$8,212,404
$2,059,470
Total liabilities and.
retained earnings
$8,417,878
$8,806,990
$2,715,378
47
Swimming
Golf
Recreation
Gun
Art
Totals
Pool
Course
Center
Range
Center
1981
1980
$ 227
$ 4,183
$
30,552
$ 1,235
$
2,217
$
209,319
$ 176,238
16,941
4,308
10,653
521,441
136,765
96,750
.33,399
565
815
38
24
10,009
41,885
319
319
933
40,000
105,000
145,000
145,000
$ 227
$ 61,689
$
140,994
$ 1,273
$
12,894
$
982,838
$ 534,220
$ 545,000
$
470,000
$
1,015,000
$ 1,015,000
4,391
4,391
2,534
521,466
560,083
250,000
190,000
440,000
585,000
$ 799,391
$
660,000
$
1,980,857
$ 2,162,617
$ 227
$ 861,080
$
800,994
1,273
$
12,894
$
2,963,695
$ 29696,837
$327,770.
$ 389,115
$
247,054
$ 18,736
$
221,378
$
3,190,931
$ 3,439,727
528
`29,'517
1.15,652
45,976
32,307
14•2459,980:
14,314,824
52,300
52,300
52,300
(74,744)
( 138,808)
( 241,795)`
(1-7,100)
(152,571)
1,705,123
1,761,488
$253,554
$ 279,824
$
73,211
47,612
$
101,114
$19,408,334
$19,568,339
5253,781
$1,140,904
$ 874,205
$ 48,885
S 114,008
$22,372,029
$22,265,176
48
CITY OF EDINA. MINNESOTA
PROPRIETARY FUND TYPE - ENTERPRISE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENSES AND RETAINED EARNINGS
YEAR ENDED DECEMBER 31, 1981
(with comparative totals for year ended December 31, 1980)
Water
Sewer
Liquor
Sales and cost of sales
Sales
$6,073,532
,Cost of sales
5,140,879
$
932,653
Operating revenues
Charges for services
$
921,260
$1,712,360
Total gross profit and
operating revenues
$
921,260
$1,712,360
$
932,653
Operating expenses
_
869,991
1,862,828
639,269
Operating income (loss)
$
51,269
$( 150,468)
$
293,384
Other revenues
Interest
$
33,869
$ 3,251
$
8,989
Discounts
81,836
Prior year's disposal charges
Current value credit - MWCC
61,020
Rental income
4,378
Deferred charges
6,938
Donations
Other
1,532
Total other revenues
$
33,869
$ 75,587
$
92,357
Other expenses
Interest and paying agent fees
Prior year's disposal charges
$ 58,871
Other
$ 149
Total other expenses
$ 58,871
$
149
Net income (loss)
$
85,138
$( 133,752)
$
385,592
Transfers to other funds
(
400,000)
Property and equipment contributed
_ by special assessments
84,458
63,026
Disposal of non - depreciated equipment
Decrease in reserves
Net increase (decrease) in retained earnings
$
169,596
$( 70,726)
$(
14,408)
Retained earnings January 1,
_ as restated (Note 7)
8,211,549
8,283,130
2,073,878
Retained earnings December 31
$8,381,145
$8,212,404
$2,059,470
v. f
49
Swimming Golf Recreation Gun Art Totals .
Pool Course Center Range Center 1981 1980
$ 6,073,532 $ 5,791,832
5,140,879 4,868,033
$ 932,653 $ 923,799
62,412 $ 567,017 $ 269,386 $ 24,467 $ 55,298 3,612,200 3,020,606
$ 62,412 $ 567,017 $ 269,386 $ 24,467 $ 55,298 $ 4,544,853 $ 3,944,405
86,483 450,448 345,707 26,531 73,283 4,354,540 4,016,343
$(24,071) $ 116,569 $( 76,321) $ 2,064 $(17,985) $ 190,313 $( 71,938)
$ 46,109 $ 37,734
81,836 86,015
18,747
61,020 61,020
4,378 4,776
6,938 6,659
$ 8,503 8,503 1,730
$ 8,000 1,983 11,.515 4,012
$ 8,000 $ 10,486 $ 220,299 $ 220,693
$ 24,147 $ 5,759 $ 29,906 $ 34,314
58,871
149 253
$ 24,147 $ 5,759 $ 88,926 $ 34,567
$(24,071) $ 92,422 $( 74,080) $( 2,064) $( 7,499) $ 321,686 $ 114,188
( 400,000) ( 339,202)
147,484 408,059
( 134,685) ( 94,490) ( 229,175)
51,650
$(24,071) $( 42,263) $( 168,570) $( 2,064) $( 7,499) $( 160,005) $ 234,695
277,625 322,087 241,781 49,676 108,613 19,568,339 19,3331644
253 554 $ 279,824 $ 73,211 J_4_ 7,612 101 114 $19,408,334 $19Y568,339
50
CITY OF EDINA, MINNESOTA
COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION
PROPRIETARY FUND TYPE - ENTERPRISE FUNDS
YEAR ENDED DECEMBER 31, 1981
(with comparative totals for year ended December 31, 1980)
Sources of working capital
Operations
Net income
Item not requiring working capital
Depreciation
Total from operations
Contributions in aid to construction
Disposal of property and equipment
Transfers from other funds
Increase in deposits
Reduction in notes receivable
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
Reduction of long -term debt
Transfers to other funds
Reduction of contributions in aid
to construction
Total uses of working capital
Net increase (decrease) in working capi -tal
Various elements of net increase
(decrease) in working capital
Cash
Investments
Receivables
Due from other funds
Due from other governmental units
Inventory
Prepaid expenses
Accounts payable
Due to other funds
Due to other governmental units
Accrued liabilities
Bonds payable
Net increase (decrease) in working capital
Water Sewer Liquor
$ 85,138 $ 385,592
268,999 49,310
$ 354,137 $ 434,902
84,458 $ 63,026
411
4,974
$ 438,595 $ 63,026 $ 440,287
$ 133,752
(115,830)
$ 17,922
$ 106,689 90,465 $ 79,400
400,000
$ 106,689 $ 108,387. $ 479,400
S 331,906 $( 45,361) $( 39,113)
$ 302,772
(163,319)
2,007
152,995
1,265
( 131)
( 17,212)
44,848
3,222
5,459
$ 41,477 $ 376,722
53,376
3,251
( 18,747)
(115,352)
( 2,154)
48,659
( 58,871)
3,000
( 348)
3,564
65,534
3,640
( 26,113)
(467,659)
( 7,702)
13,249
1_11L.,906 $( 45,361) S( 39,113)
51
Swimming
Golf
Recreation
Gun
Art
Totals
Pool
Course
Center
Range
Center
1981
1980
$ 92,422
$ 563,152
$
257,619
22,056
340,365
448,016
$114,478
$ 903,517
$
705,635
147,484
408,059
134,685
$ 94,490
229,586
823
60,798
1,857
1,857
1,634
4,974
4,973
$ -0-
$251,020
$ 94,490
$ -0-
$ -0-
$1,287,418
$1,181,922
$ 24,071
$ 74,080
$ 2,064
$ 7,499
$ 241,466
$
143,431
571)
( 2,355)
127)
1,290)
( 120,173)
( 4,844)
$ 23,500
$ 71,725
$ 1,937
$ 6,209
$ 121,293
$
138,587
$ 53,067
35,082
76,781
441,484
534,650
40,000
105,000
145,000
145,000
400,000
400,000
134,685
94,490
229,175
$ 23,500
$227,752
$ 306,297
$ 1,937
82,990
$1,336,952
$1,218,237
5(23,500)
$ 23,268
X211,807)
S( 1,937)
$(82,990)
$( 49,534)
$(...36,315)
$(30,954)
$ 18,135
$(264,504)
$( 2,661)
$(72,036)
$ 368,951
$(
830,679)
( 163,319)
144,286
1,331
( 677)
( 18,310)
37,379
77,074
5,000
25,633
155
190,598
49,477
28,366
1,050
10,669
(
65,228)
( 1,297)
244
903
66,649
250,058
( 111,843)
7,102
1,123
2,479
11,464
( 770)
( 1,898)
( 33,081)
1,112
1,571
( 1,442)
(10,653)
( 384,676)
291,017
( 63,351)
(
4,977)
3,057
6,742
289
694
32,490
(
5,557)
50,000
5(23,500)
$ 23,268
$(211,807)
S( 1,937)
$(82,990)
49,534)
$( 36,315)
i
Assets
Balance
Balance
January 1
Additions Disposals
December 31
Water Fund
Land
$ 26,556
$ 26,556
Land improvements
28,092
$ 2,800
30,892
Buildings and equipment
2,585,082
19,432
2,604,514
Distribution system
8,705,865
84,457
8,790,322
$11,345,595
$106,689
$11,452,284
Sewer Fund.
Land improvements
$ 6,809
$ 170
$ 6,979.
Sewer mains and
lift stations.
10,356,436
63,026
10,419,462
Furniture and fixtures
2,454
2,845
5,299
Vehicles
25,45,7;
7,074
32,531
Equipment and machinery
96,692
17,350
114,042
$10,487,84.8
$ 90,465
$10,578,313
Liquor Fund
Land
$ 233,785
$ .233,785
Land improvements
21,364
$ 267
21,631
Building
658,333
69,155
727,488
Furniture, fixtures
and equipment
285,951
9,764 $ 1,644
294,071
Construction in progress
3,171
214
3,385
$ 1,202,604
79,400 $ 1,644
$ 1,280,360
Swimming Pool Fund
Land
$ 10,000
$ 10,000
Swimming pool and
bathhouse
288,048
288,048
Filter system
28,006
28,006
Furniture and fixtures
6,001
6,001 .
Construction in progress
1,478
1,478
$ 333,533
$ 333,533
i
53
Accumulated
depreciation
Net
Balance
Balance
book
..January 1
Additions
Disposals
December 31
value
$
26,556
$ 15,460
$ 1,078.
$ 16,538
14,354.
: 1,705,168
. 92,948
1,798,116
806,398
2,530,939
174,973
2,705,912
6,084,410
$4,251,567
$268,999
$4,520,566
$6,931,718
$ 4,180
$ 193
$ 4,373
$
2,606
1,948,454
104,195
2,052,649
8,366,813
2,264
171
2,435
2,864
15,289
3,265
18,554
13,977
53,466
8,006
61,472
52,570
$2,023,653
$115,830
$2,139,483
$8,438,830
$
233,785
$ 4,697
$ 854
$ 5,551
16,080
146,190
24,784
170,974
556,514
129,066
23,672
$ 1,233
151,505
142,566
3,385
$ 279,953
$ 49,310
$ 1,233
$ 328,030
$
952,330
$
10,000.
288,048
28,,006
$ 4,664
$ 571
$ 5,235
766
1,478
$ 4,'664
$ 571
$ 5,235
$
328,298
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
Gun Range Fund
Land improvements
Building
Furniture and equipment
Art Center Fund
Land
Land improvements
Building
Office furniture and equipment
Machinery and equipment
Construction in progress
$26,263,606 $1,007,476 $796,811 $26,474,271
Assets
Balance
Balance
January 1
Additions
Disposals
December 31'
$ 726,414
$ 213,552
$119,666.
$ 820,300
204,781
33,123
237,904
15,018
121,304
15,018
121,304
9,627
2,083
11,710
215,539
15,322
230,861
332,318
43,506
375,824
$ 1,503,697
,S 428,890
$510,508
$ 1,422,079
$ 52,174
$ 52,174
885,191
$ 171,463
$ 94,490
962,164
62,993
5,704
68,697
142,085
48,084
190,169
$ 1,142,443
$ 225,251
$284,659
$ 1,083,035
$ 16,290
$ 16,290
47,532
47,532.
1,.839
1,839
$ 65,661
$ 65,661
$ 15,000
$ 15,000
1,937
1,937
110,758
110,758
5,907
5,907
6,872
$ 1,864
8,736
41,751
74,917
116,668
$ 182,225
$ 76,781
$ 259,006
$26,263,606 $1,007,476 $796,811 $26,474,271
55
Accumulated depreciation
Net
Balance
Balance.
book
January 1
Additions Disposals
December 31
value
$
820,300
...237,904
121,304 .
11,710
$ 146,391
$ 22,056
$ 168,447
62,414
$ 146,391
$ 22,056.
$ 168,447
$
1,253,632
$
52,174
962,164
$ 52,974
$ 2,355
$ 55,329
13,368
$ 52,974
2,355
$ 55,329
$
1,027,706
$
16,290
47,532
$ 822
127
$ 949
890
$ 822
$ 127
$ 949
$
64,712-
$
15,000
1,937
110,758
$ 1,879
$ 591
$ 2,470
3,437
2,152
699
2,851
5,885
116,668
$ 4,031
$ 1,290
$ 5,321
$
253,685
$6,764,055
5460,538 S 1,233
$7.223,360
$19.750
9
56
CITY OF EDINA, MINNESOTA
WATER FUND
COMPARATIVE BALANCE SHEET
DECEMBER 31, 1981 AND 1980
1981
1980
ASSETS
Current assets
Cash
$ 760,071
$ 457,299
. Investments
163,319
Accounts receivable - Customers
216,760
214,753
Due from other funds
394,24.8
241,253
Inventory
10,799
9,534
Prepaid expenses
4,282
4,413 .
Total current assets
$1,386,160
$1,090,571
Property and equipment less accumulated depreciation
$6,931,718
.$7,094,028
Other assets
Loan to other funds
$ 100,000
$ 100,000
Total assets
$8,41.7,878
$8,284,599
LIABILITIES AND RETAINED EARNINGS
Current liabilities
Accounts payable
$ 29,964
$ 12,752
Due to other funds
4,000
.48,848
Due to other governmental units
1,755
4,977
Accrued payroll
1,014
6,473
Total current liabilities
$ 36,733
$ 73,050
Retained earnings
Invested in property and equipment
$1.,007,151
$1,246,491
Contributed
5;924,567
5,847,537
Unreserved - Undesignated
1,449,427
1,117,521
Total retained earnings
$8,381045
$8,211,549
Total liabilities and retained earnings
$8,417,878
$8,284,599
57
CITY OF EDINA, MINNESOTA
WATER' FUND
COMPARATIVE STATEMENT OF REVENUES, EXPENSES AND
RETAINED EARNINGS
YEARS ENDED DECEMBER 31, 1981 AND
1980
1981
1980
Operating revenues
Water charges
$
896,823
$
756,650
Sale of meters (less cost of meters sold)
6,860
3,857
Hydrant rental
15,138
16,535
Permits
1,881
1,446
Other
558
( 293)
Total operating revenues
$
921,260
$
778,195
Operating expenses
Source of supply
Personal services
$
23,733
$
31,724
Other services and charges
202,577
185,455
Supplies
5,530
18,975
Distribution
Personal services
89,669
69,786
Other services and charges
9,342
57,084
Supplies
76,527
71,304
Purification
Personal services
2,963
5,569
Other services and charges
53
8,762
Supplies
36,313
1,537
General and administrative
Personal services
73,182
58,027
Other services and charges
80,321
75,476
..Supplies
782
918
Depreciation
268,999
268,847
Total operating expenses
$
869,991
$
853,464
Operating income (loss)
$
51,269
$
( 75,269)
Other revenues (expenses)
Interest on investments
$
33,869
$
29,987
Interest and paying agent fees
(
1,539)
Total other revenues
$
33,869
$
28,448
Net income (loss)
$
85,138
$(
46,821)
Property and equipment contributed
by special assessments
84,458
71,051
Reduction in reserve for debt retirement
51,650
Net increase in retained earnings
$
169,596
$
759880
Retained earnings January l
8,211,549
8,135,669
Retained earnings December 31
$8,381,145
$8,211,549
58
CITY OF EDINA, MINNESOTA
WATER FUND
COMPARATIVE STATEMENT OF CHANCES IN FINANCIAL POSITION
YEARS ENDED DECEMBER 31, 1981 AND 1980
Sources of working capital
Operations
Net income (loss)
Item not requiring working capital
Depreciation
Total from operations
Contributions in aid to construction
Total sources of working capital
Uses of working capital
Additions to property and equipment
Net increase in working capital
Various elements of net increase (decrease)
in working capital
Cash
Investments
Accounts receivable
Due from other funds
Inventory
Prepaid expenses
Accounts payable
Due to other funds
,Due to other governmental units
Accrued payroll
Accrued interest payable
Bonds payable
Net increase in working capital
1981
1980
$
85,138
$(
46,821)
268,999
268,847
$
354,137
$
222,026
84,458
71,051
$
438,595
$
293,077
$
106,689
$
81,954
$
331,906
$
2111123
$
302,772
$(
42,739)
(163,319)
144,286
2,007
856
152,995
60,340
1,265
955
( 131)
(
622)
( 17,212)
3,349
44,848
803
3,222
(
4,977)
5,459
(
1,266)
138
50,000
$
331,906
$
211,123
59
CITY OF EDINA, MINNESOTA
SEWER FUND
COMPARATIVE BALANCE SHEET
DECEMBER 31, 1981 AND 1980
1981
1980
ASSETS
Current assets
Cash (deficit)
$( 486,560)
$( 528,037)
Receivables
Accounts
625
1,000
Customers
328,100
274,407
Assessments
1,278
1,220
Due from other funds
3,251
Due from other governmental units
18,747
Prepaid expenses
115,352
Total current assets
$( 153,306)
$( 117,311)
Property and equipment less accumulated depreciation
$8,438,830
$8,464,195
Other assets
Receivable — Metropolitan Waste Control Commission
$ 521,466
$ 560,083
Total assets
$8,806,990
$8,906,967
LIABILITIES AND RETAINED EARNINGS
Current liabilities
Accounts payable
$ 9,197
$ 7,043
Due to other funds
4,094
52,753
Due to other governmental units
58,871
Accrued payroll
958
3,958
Total current liabilities
$ 73,120
$ 63,754
Other liability — Deferred revenue
$ 521,466
$ 560,083
Total liabilities
$ 594,586
$ 623,837
Retained earnings
Invested in property and equipment
$ 27,397
$ 115,788
Contributed
8,411,433
8,348,407
Unreserved — Undesignated
( 226,426)
( 181,065)
Total retained earnings
$8,212,404
$8,283,130
Total liabilities and retained earnings
$8,806,990
18 906,967
60
CITY
COMPARATIVE STATEMENT OF
OF EDINA, MINNESOTA
SEWER FUND
REVENUES, EXPENSES AND
RETAINED EARNINGS
YEARS ENDED
DECEMBER 31, 1981 AND
1980
1981
1980
Operating revenues.- Sewer charges
$1,712,360
$1,388,669
Operating expenses
Collection
Personal services
$ 122,979
$ 106,032
Other services and charges
53,462
97,004
Supplies
30,064
34,797
Disposal - .Contractual services
1,463,988
1,259,939
Administrative and general
Personal services
30,062
14,689
Other services and charges
46,406
62,431
Supplies
37
90
Depreciation
115,830
113,274
Total operating.expenses
$1,862,828
$1,688,256
Operating income (loss).
$( 150,468)
$( 299,587)
Other revenues (expenses)
Deferred charges
$ 6,938
$ 6,659
Rental income
4,378
4,776
Prior year's disposal charges
( 58,871)
18,747
Current value credit - MWCC
61,020
61,020
Interest on investments
3,251
Total other revenues
$ 16,716
$ 91,202
Net loss
$( 133,752)
$( 208,385)
Property and equipment contributed
by special assessments
63,026
337,008
Net increase (decrease) in retained
earnings
$( 70,726)
$ 128,623
Retained earnings January 1
8,283,130
8,154,507
Retained earnings December 31
$8,212,404
$8,283,130
Various elements of net increase (decrease)
in working capital
Cash
Receivables
Due from other funds
Due from other governmental units
Prepaid expenses
Accounts payable
Due to other funds
Due to other governmental units
Accrued payroll
Net decrease in working capital
$ 41,477
53,376
3,251
( 18,747)
(115,352)
( 2,154)
48,659
( 58,871)
3,000
$( 45,361)
$(112,077)
84,980
( 40,841)
19,854
( 3,721)
( 52,753)
( 835)
$(105,393)
61
CITY OF EDINA, MINNESOTA
SEWER FUND
COMPARATIVE STATEMENT OF CHANGES
IN FINANCIAL POSITION
YEARS ENDED DECEMBER 31,
1981 AND 1980
- 1981
1980
Sources of working capital
Contributions in aid to construction
$
63,026
$
337,008
Uses of working capital
Operations
Net loss
$
133,752
$
208,385
Item not requiring working capital
Depreciation
(115,830)
(113.,274)
$
17,922
$
95,111
Additions to property and equipment
90,465
347,290
Total uses of working capital
$
108,387
$
442,401
Net decrease in working capital
$( 45,361)
$(105.393)
Various elements of net increase (decrease)
in working capital
Cash
Receivables
Due from other funds
Due from other governmental units
Prepaid expenses
Accounts payable
Due to other funds
Due to other governmental units
Accrued payroll
Net decrease in working capital
$ 41,477
53,376
3,251
( 18,747)
(115,352)
( 2,154)
48,659
( 58,871)
3,000
$( 45,361)
$(112,077)
84,980
( 40,841)
19,854
( 3,721)
( 52,753)
( 835)
$(105,393)
62
CITY OF EDINA, MINNESOTA
LIQUOR FUND
COMPARATIVE BALANCE SHEET
DECEMBER 31, 1981 AND 1980
1981
1980
ASSETS
Current assets
Petty cash and change funds
$ 3,800
$
3,500
Cash (deficit)
346,357
( 30,065)
Notes receivable
8,803
9,151
Due from other funds
3,564
Inventory
924,639
859,105
Prepaid expenses
11,152
7,512
Total current assets
$1,298,315
$
849,203
Property and equipment less accumulated depreciation
$ 952,330
$
922,651
Other assets
Loan to other funds
$ 415,000
$
415,000
Notes receivable less current portion above
49,733
54,707
Total other assets
$ 464,733
$
469,707
Total assets
$2,715,378
$2,241,561
LIABILITIES AND RETAINED EARNINGS
Current liabilities
Accounts payable
$ 131,744
$
105,631
Due to other funds
481,445
13,786
Due to other governmental units
36,124
28,422
Accrued payroll
6,595
19,844
Total current liabilities
$ 655,908.
$
167,683
Retained earnings
Invested in property and equipment
$ 952,330
$
922,651
Unreserved - Undesignated
1,107,140
1,151,227
Total retained earnings
$2,059,470
$2,073,878
Total liabilities and retained earnings
$2,715,378
$2,241,561
63
CITY OF EDINA, MINNESOTA
LIQUOR FUND
COMPARATIVE STATEMENT OF REVENUES, EXPENSES AND RETAINED EARNINGS
YEARS ENDED DECEMBER 31, 1981 AND 1980
Retained,earnings
January 1
Retained earnings
December 31
2,073,878 2,025,759 .
$2,059,470 $2,073,878
1981
1980
50th Street
Yorkdale
Grandview
Totals
Totals
Sales
$1,302,088
$2,616,193
$2,155,251
$6,073,532
$5,791,832
Cost of sales
1,100,507
2,187,151
1,853,221
55140,879
4,868,033
Gross profit
$ 201,581
$
429,042
$
302,030
$
932,653
$
923,799
Operating expenses
Selling
$ 84,537
$
153,074
$
120,116
$
357,727
$
325,892
. Occupancy
36,007
47,526
42,970
126,503
124,480
Administrative
46,154
54,793
54,092
1555039
120,483 .
Total operating
expenses
$ 1661698
$
255,393
$
217,178
$
639,269
$
570,855
Operating income
$ 34,883
$
173,649
$
:84,852
$
293,384
$
352,944'
Other revenues (expenses)
Interest
$ 8,989
$
8,989
$
7,747
Discounts
16,927
$
34,769
$
30,140
81,836
86,015
Cash over (short)
( 9)
( 569).
429
(
149)
(
253)
Other
598
283
651
1,532
1,666
Total other
revenue
$ 26,505
$
34,483
$
31,220
$
92,208
$
95,175
Net income be-
fore,transfers
$ 61,388
$
208,132
$
116,072
$
385,592
$
4485119
Transfers to other funds
General Fund
$
70,000
$
90,000
Park Fund
330,000
230,000
Park Construction
Fund
80,000
$
400,000
$
400,000
Net increase (decrease)
in retained earnings
$(
14,408)
$
48,119
Retained,earnings
January 1
Retained earnings
December 31
2,073,878 2,025,759 .
$2,059,470 $2,073,878
64
CITY OF EDINA, MINNESOTA.
LIQUOR FUND
COMPARATIVE STATEMENT OF CHANGES IN FINANCIAL POSITION
YEARS ENDED DECEMBER 31, 1981 AND 1980
Sources of working capital
Operations
Net income
Item not requiring working capital
Depreciation
Total from operations
".Sale of property and equipment less gain of $382
Reduction in notes receivable
Total sources of working capital
Uses of working capital
Transfer to other funds
Additions to property and equipment
Total uses of working capital
Net increase (decrease) in working capital
Various elements of net increase (decrease)
in working capital
Petty cash and change funds
Cash
Notes receivable
Due from other funds
Inventory
Prepaid expenses
Accounts payable
Due to other funds
Due to other governmental units
Accrued payroll
Net increase (decrease) in working capital
1981 1980
$
385,592
$
448,119
49,310
45,962
$
434,902
$
494,081
411
4,974
4,973
$
440,287
$
499,054
$
400,000
$
.400,000
79,400.
12,715
$
479,400
$
412,715
$(
39,113)
$
86,339
$
300
376,422
$(160,665)
(
348)
1,915
3,564
65,534
251,240
3,640
( 12,130)
(
26,113)
17,273
(467,659)
21,516
(
7,702)
( 28,422)
13,249
( 4,388)
$(
39,113)
$
86,339
CITY OF EDINA, MINNESOTA..
LIQUOR FUND
COMPARATIVE SCHEDULE OF OPERATING,EXPENSES
YEARS ENDED DECEMBER 31, 1981 AND 1980 .
Selling
Salaries and wages
Supplies.
.Licenses and dues.
Service contract
birect promotion
Other
Occupancy
Salaries and wages
Telephone
Supplies
Light and power
Maintenance, heating
and cooling
Heat
Laundry and rug service
Burglar alarm
Insurance
Share of maintenance
Repair and maintenance
Depreciation
Rubbish hauling
Janitorial service
Water and sewer service
Miscellaneous
Administrative
Salaries and wages
Supplies
Professional service
Allocated expenses - Retire
ment, insurance, office
supplies, etc.
Data processing
Mileage
Miscellaneous
Total operating expenses
65
$166,698 $255,393 $217,178 $639,269 $570,855
Totals
50th
Street
Yorkdale
Grandview
1981
1980
$
78,567
$141,764
$111,755
$332,086
$298,662
3,529
8,072
5,777
17,378
17,892
430
453
221
1,104
352
842
1,685
1,263
3,790
3,789
1,169
1,100
1,100
3,369
4,979
218
$
84,537
$153,074
$120,116
$357,727
$325,892
$
1,759
$ 1,196
$ 1,068
$ 4,023
$ 4,020
1,046
1,280
771
3,097
1,618
1,822
1,214
765
3,801
3,852
5,789
10,381
.4,680
20,850
18,834
498
207
157
862
1,967
525
2,200
1,802
4,527
3,322
531
272
635
1,438
1,685
485
784
1,103
2,372.
1,273.
4,154
8,002
6,533
18,689
27,211
278
81
359
1,095
1,464
2,684
6,399
10,547
7,455
15,890
16,482
16,938
49,310
45,962
1,080
1,865
1,865
4,810
5,087
125
441
566
218
329
437
254
1,020
821
232
232
60
$
36,007
$ 47,526
$ 42,970
$126,503
$124,480
$
15,829
$ 16,134
$ 17,528
$ 49,491
$ 45,497
66
1,515
294
1,875
4,012
1,58.7
1,592
1,572
4,751
4,234
20,580
26,460
27,060
74,100
63,480
6,400
6,401
6,401
19,202
450
500
450
1,400
1,350
1,242
2,191
787
4,220
1,910
$
46,154
$ 54,793
$ 54,092
$155,039
$120,483
$166,698 $255,393 $217,178 $639,269 $570,855
66 .
CITY OF EDINA, MINNESOTA
SWIMMING POOL FUND
COMPARATIVE BALANCE SHEET
DECEMBER 31, 1981 AND 1980.
1981
1980
ASSETS
Current assets
Cash (deficit)
$(
80,848)
$(
49,894)
Accounts receivable
1,331
Due from other funds
5,000
Total current assets
$(
74,517)
$(
49,894)
Property and equipment less
accumulated depreciation
$
328,298
$
328,869
Total assets
$
253,781
$
278,975
LIABILITY AND RETAINED EARNINGS
Current liability
Accounts payable
$.
227
$
1,350
Retained earnings
Invested in property and
equipment
$.327,770
$
328,341
Contributed
528
528
Unreserved - Undesignated
(
74,744)
(
51,244)
Total retained
earnings
$
253,554
$
277,625
Total liability
and retained earnings
$253,781
$
278,975
67
CITY OF EDINA, MINNESOTA
SWIMMING POOL FUND
COMPARATIVE STATEMENT OF REVENUES, EXPENSES AND
RETAINED EARNINGS
YEARS ENDED DECEMBER 31, 1981 AND
1980
1981
1980
Operating revenues
Season tickets
$
39,337
$
32,469
General admissions
10,830
11,932
Rentals and instruction programs
5,000
5,000
. Concessions (less cost of goods sold)
5,914
7,979
Other
1,331
1,729
Total operating - revenues
$
62,412
$
59,109
Operating expenses
Salaries and wages
$
41,081
$
37,687
. Supplies
8,046
9,277
Utilities
18,422
11,853
Insurance
672
716
Repair and maintenance
3,636
3,230
Professional service.
100
100
Printing and office expense
2,167
2,498
Central services
5,220
4,380
Concessions - Operating
5,763
5,583
Contractual services
660
760
Depreciation
571
742
Other
145
453
Total operating expenses
$
86,483
$
77,279
Net loss before transfers
$(
24,071)
$(
18,170)
. Transfer from General Fund
7,500
Transfer from Park Fund
478
Net decrease in retained earnings
$(
24 071)
$(
10,192)
Retained earnings January 1
277,625
287,817
Retained earnings December 31
$ 253.554
$ 277.625
68
CITY OF EDINA, MINNESOTA
SWIMMING POOL FUND
COMPARATIVE STATEMENT OF CHANGES IN FINANCIAL POSITION
YEARS ENDED DECEMBER 31, 1981 AND
1980
1981
1980
. Sources of working capital
Transfer from General Fund
$
7,500
Transfer from Park Fund
478
Total sources of working capital
$
-0-
$
7,978
Uses of working capital
Operations
Net loss
$
24,071
$
18,170
Item not requiring working capital
Depreciation
(
571)
(
742)
Total from operations
$
23,500
$
17,428
Additions to property and equipment
478
Total uses of working capital
$
23,500
$
17,906
Net decrease in working capital
$(
23,500)
$(
9,928)
Various elements,of net increase (decrease)
in working capital
Cash
$(
30,954)
$(
8,804)
Accounts receivable
1,331
Due from other funds
5,000
Accounts payable
1,123
(
1,124)
Net decrease in working capital
$(
23,500)
$(
9,928)
.•
CITY OF EDINA, MINNESOTA
GOLF COURSE FUND
COMPARATIVE BALANCE SHEET
DECEMBER 31, 1981 AND 1980
Other liabilities
Loan from other funds $ 545,000 $ 545,000
Deposits 4,391 2,534
Long -term liability - Bonds payable
less current portion above 250,000 290,000
Total other liabilities $ 799,391 $ 837,534
Total liabilities $ 861,080 $ 906,330
Retained earnings
Invested in property and equipment $ 389,115 $ 452,789
Contributed 29,517 29,517
Unreserved - Undesignated ( 138,808) ( 160,219)
Total retained earnings $ 279,824 $ 322,087
Total liabilities and retained earnings $19140,904 $1,228,417
1981
1980
ASSETS
Current assets
Petty cash and change funds
$ 850
$ 400
Cash (deficit)
( 126,306)
( 143,991)
Investments
12,728
12,728
Accounts receivable
677
Inventory
1,297
Total current assets
$( 112,728)
$( 128,889)
Property and equipment less
accumulated depreciation
$1,253,632
$1,357,306
Total assets
$1,140,904
$1,228,417
LIABILITIES AND RETAINED
EARNINGS
Current liabilities
Accounts payable
$ 4,183
$ 6,662
Due to other funds
16,941
18,512
Accrued payroll
565
3,622
Bonds payable
40,000
40,000
Total current liabilities
$ 61,689
$ 68,796
Other liabilities
Loan from other funds $ 545,000 $ 545,000
Deposits 4,391 2,534
Long -term liability - Bonds payable
less current portion above 250,000 290,000
Total other liabilities $ 799,391 $ 837,534
Total liabilities $ 861,080 $ 906,330
Retained earnings
Invested in property and equipment $ 389,115 $ 452,789
Contributed 29,517 29,517
Unreserved - Undesignated ( 138,808) ( 160,219)
Total retained earnings $ 279,824 $ 322,087
Total liabilities and retained earnings $19140,904 $1,228,417
70
CITY OF EDINA, MINNESOTA
GOLF COURSE FUND
COMPARATIVE STATEMENT OF REVENUES, EXPENSES AND
RETAINED
EARNINGS
YEARS ENDED DECEMBER 31, 1981 AND
1980
1981
1980
Operating revenues
Green fees
$
341,851
$
300,910
Rental fees
60,760
55,750
Membership fees
38,541
30,972
:. Concessions. (less cost of goods sold)
45,711
41,709
Range
75,911
58,031
Lessons
.3,.893
3,556
Other
350
24
Total operating revenues
$
567,017
$
490,952
Operating expenses
Administration
$
115,771
$
98,118
Building - Club House and Pro Shop
38,685
441,780
Maintenance of course and grounds
202,129
179,202
Range and grill
71,80.7
58,876
Depreciation
22,056
19,777
Total operating expenses
$
450,448
$
400,753
Operating income
$
116,569
$
90,199
Other expense
Interest and paying agent fees
$(
24,147)
$(
25,765)
Net income before transfers and equipment disposals
$
92,422
$
64,434
Transfer from Park Fund
29,517
Disposal of nondepreciated equipment
(134,685)
Net increase(decrease) in retained earnings
$(.42,263)
$
93,951
Retained earnings January 1
322,087
228,136
Retained earnings December 31
$ 279.824
$ 322,087
71
CITY OF EDINA, MINNESOTA
GOLF COURSE FUND
COMPARATIVE STATEMENT OF CHANGES IN FINANCIAL POSITION
YEARS ENDED DECEMBER 31, 1981 AND 1980
1981 1980
Sources of working capital
Operations
Net income $ 92,422 $ 64,434
Item not requiring working capital
Depreciation 22,056 19,777
Total from operations $ 114,478 $ 84,211
Increase in deposits 1,857 1,634
Disposals of property and equipment - Net 134,685 823
Transfer from Park Fund 29,517
Total sources of working capital $ 251,020 $ 116,185
Uses of working capital
Additions to property and, equipment
$
53,067
$ 57,420
Reduction of long -term debt
40,000
40,000
Reduction of contributions in aid to construction
134,685
Total uses of working capital
$
227,752
$ 97,420
Net increase in working capital
$_2_3,268
$ 182765
Various elements of net increase (decrease)
in working capital
Petty cash and change
$
450
Cash
17,685
$(231,687)
Accounts receivable
(
677)
677
Inventory
(
1,297)
( 1,253)
Accounts payable
2,479
1,787
Due to other funds
1,571
249,827
Accrued payroll
3,057
( 586)
Net increase in working capital
1-2-3-.268
$ 18 J65
72
CITY OF EDINA, MINNESOTA
GOLF COURSE FUND
COMPARATIVE SCHEDULE OF OPERATING EXPENSES
YEARS ENDED DECEMBER 31, 1981 AND 1980
1981 1980
Administration
Personal services $ 60,969 $ 53,759
Contractual services 49,079 40,821
Commodities and supplies 3,701 2,752
Other charges 2,022 786
Total administration $115,771 $ 98,118
Building - Club House and Pro Shop
Personal services $ 10,131 $ 14,667
Utilities 16,277 16,776
Fuel .3,003 2,124
Supplies 5,125 7,906
Repairs - Building 5,239 3,635
Contractual services 2,333 2,756
Other charges 2,795 3,134
Less amount charged to grill ( 6,218) ( 6,218)
Total building - Club House and Pro Shop $ 38,685 $ 44,780
Maintenance of course and grounds
Personal services $114,731 $ 92,790
Contractual services 13,111 10,887
Commodities and supplies 41,203 46,125
Fixed charges 32,880 29,400
Other charges 204
Total maintenance $202,129 $179,202
Range and grill
Personal services $ 58,594 $ 48,348
Contractual services 6,346 6,431
Commodities and supplies 6,867 4,097
Total range and grill $ 71,807 $ 58,876
Depreciation $ 22,056 $ 19,777
Total operating expenses $450,448 $400,753
CITY OF EDINA, MINNESOTA
RECREATION CENTER FUND
COMPARATIVE BALANCE SHEET
DECEMBER 31, 1981 AND 1980
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
Other assets
Loan to other funds
Total assets
LIABILITIES AND RETAINED EARNINGS
Current liabilities
Accounts payable
Due to other funds
Accrued payroll
Accrued interest
Bonds payable
Total current liabilities
Other liabilities
Loan from other funds
Long -term liability - Bonds payable,
less current portion above
Total other liabilities
Total liabilities
Retained earnings
Invested in property and equipment
Contributed
Reserved for debt retirement
Unreserved - Undesignated
Total retained earnings
Total liabilities and retained earnings
1981 1980
$ 700
$ 700
(535,498)
( 270,994)
2,100
20,410
46,346
20,713
32,401
4,035
450
206
$( 453,501)
$( 224,930)
$1,027,706
$1,089,469
$ 300,000 $ 300,000
$ 874,205 $1,164,539
$ 30,552
4,308
815
319
105,000
$ 140,994
$ 42,016
2,866
6,943
933
105,000
$ 157,758
$ 470,000 $ 470,000
190,000
$ 660,000
$ 800,994
$ 247,054
15,652
52,300
( 241,795)
$ 73,211
$ 874,205
295,000
$ 765,000
$ 922,758
$ 203,817
15,652
52,300
( 29,988)
$ 241,781
$1,164,539
73
74
CITY OF EDINA, MINNESOTA
RECREATION CENTER FUND
COMPARATIVE STATEMENT OF REVENUES, EXPENSES AND RETAINED EARNINGS
YEARS ENDED DECEMBER 31, 1981 AND 1980
1981 1980
Operating revenues
Rental fees $ 196,503 $ 154,253
Season ticket sales 25,516 23,413
Daily skating fees 8,700 6,876
Admissions 18,049 25,643
Concessions (less cost of goods sold) 8,138 9,893
Vending machine commissions 7,778 7,607
Services - Skate sharpening 3,910 3,798
Other 792 3,496
Total operating revenues $ 269,386 $ 234,979
Operating expenses
Personal services
$
116,408
$
122,512
Contractual services
104,823
89,943
Commodities, supplies and repairs
89,001
95,437
Depreciation
2,355
2,812
Other charges
33,120
29,700
Total operating expenses
$
345,707
$
340,404
Operating loss
$(
76,321)
$(105,425)
Other revenues (expenses)
Gain on sale of equipment
$
8,000
Interest and paying agent fees
(
5,759)
$(
7,010)
Total other revenues (expenses)
$
2,241
$(
7,010)
Net loss before transfers and equipment disposals
$(
74,080)
$(112,435)
Transfer from Park Fund
9,652
Transfer from General Fund
7,500
Disposal of nondepreciated equipment
(
94,490)
Net decrease in retained earnings
$(168,570)
$(
95,283)
Retained earnings January 1, as restated (Note 7)
241,781
337,064
Retained earnings December 31
$
73,211
$
241,781
75
CITY OF EDINA, MINNESOTA
RECREATION CENTER FUND
COMPARATIVE STATEMENT OF CHANGES IN FINANCIAL POSITION
YEARS ENDED DECEMBER 31, 1981 AND 1980
1981 1980
Sources of working capital
Transfer from Park Fund $ 9,652
Transfer from General Fund 7,500
Disposal of property and equipment $ 94,490
$ 94,490 $ 17,152
Uses of working capital
Operations
Net loss
$ 74,080
$ 112,435
Item not requiring working capital
Depreciation
( 2,355)
( 2,812)
Total from operations
$ 71,725
$ 109,623
Additions to property and equipment
35,082
26,785
Reduction of long -term debt
105,000
105,000
Reduction of contribution in aid to construction
94,490
Total uses of working capital
$ 306,297
$ 241,408
Net decrease in working capital
x(211.807)
$(224,256)
Various elements of net increase (decrease)
in working capital
Cash
$(264,504)
$(226,852)
Accounts receivable
( 18,310)
( 11,704)
Due from other funds
25,633
( 9,738)
Due from other governmental units
28,366
4,035
Inventory
244
( 107)
Accounts payable
11,464
( 23,783)
Due to other funds
( 1,442)
42,213
Accrued payroll
6,128
( 1,950)
Accrued interest
614
3,630
Net decrease in working capital
5(211,807)
J224,256)
Z:
CITY OF EDINA. MINNESOTA
GUN RANGE FUND
COMPARATIVE BALANCE SHEET
DECEMBER 31, 1981 AND 1980
Retained earnings
Invested in property and equipment $ 18,736 $ 18,863
Contributed 45,976 45,976
Unreserved - Undesignated ( 17,100) ( 15,163)
Total retained earnings $ 47,612 $ 49,676
Total liabilities and retained earnings $ 48,885 $ 50,468
1981
1980
ASSETS
Current assets
Cash (deficit)
$(
20,887)
$(
18,226)
Due from other funds
410
255
Due from other governmental units
4,400
3,350
Inventory
250
250
Total current assets
$(
15,827)
$(
14,371)
Property and equipment less accumulated depreciation
$
64,712
$
64,839
Total assets
$
48,885
$
50,468
LIABILITIES AND RETAINED EARNINGS
Current liabilities
Accounts payable
$
1,235
$
465
Accrued payroll
38
327
Total current liabilities
$
1,273
$
792
Retained earnings
Invested in property and equipment $ 18,736 $ 18,863
Contributed 45,976 45,976
Unreserved - Undesignated ( 17,100) ( 15,163)
Total retained earnings $ 47,612 $ 49,676
Total liabilities and retained earnings $ 48,885 $ 50,468
CITY OF EDINA, MINNESOTA
GUN RANGE FUND
COMPARATIVE STATEMENT OF REVENUES, EXPENSES AND RETAINED EARNINGS
YEARS ENDED DECEMBER 31, 1981 AND 1980
Operating revenues
Range fees
Sale of ammunition
Concessions (less cost of goods sold)
Other
Total operating revenues
Operating expenses
Personal services
Contractual services
Commodities and supplies
Depreciation
Other
Total operating expenses
Net income (loss) before transfer
Transfer from Park Fund
Net increase (decrease) in retained earnings
Retained earnings January 1
Retained earnings December 31
1981 1980
$ 19,692 $ 14,402
3,582 2,854
632 271
561 498
$ 24,467 $ 18,025
$ 13,086 . $ 9,475
5,039
2,678
7,839
5,319
127
156
440
125
$ 26,531
$ 17,753
$( 2,064) $ 272
976
$( 2,064) $ 1,248
49,676 48,428
$ 47,612 $ 49,676
77
78
CITY OF EDINA. MINNESOTA
GUN RANGE FUND
COMPARATIVE STATEMENT OF CHANGES IN FINANCIAL POSITION
YEARS ENDED DECEMBER 31, 1981 AND 1980
1981 1980
Sources of working capital
Operations
Net income $ 272
Item not requiring working capital
Depreciation 156
Total from operations $ -0- $ 428
Transfers from other funds 976
Total sources of working capital $ -0- $ 1,404
Uses of working capital
Operations
Net loss $ 2,064
Item not requiring working capital
Depreciation ( 127)
Total from operations $ 1,937 $ -0-
Additions to property and equipment 976
Total uses of working capital $ 1,937 $ 976
Net increase (decrease) in working capital $( 1.937) $ 428
Various elements of net increase (decrease)
in working capital
Cash $( 2,661) $( 4,774)
Due from other funds 155 ( 85)
Due from other governmental units 1,050 350
Accounts payable ( 770) 861
Due to other funds 4,108
Accrued payroll 289 ( 32)
Net increase (decrease) in working capital $( 1,937) $ 428
Current assets
Petty cash and change funds
$
100
$
75
Cash (deficit)
(145,450)
(
73,389)
Inventory
5,673
4,770
Total current assets
$(139,677)
$(
68,544)
Property and equipment less accumulated depreciation
$
253,685
$
178,194
Total assets
$
114,008
$
109,650
LIABILITIES AND RETAINED EARNINGS
Current.liabilities
Accounts payable
$
2,217
$
319
Due to other funds
10,653
Accrued payroll
24
718
Total current liabilities
$
12,894
$
1,037
Retained earnings"
Invested in property and equipment
$
221,378
$
150,987
Contributed
32,307
27,207
Unreserved — Undesignated
(1- 52,571)
(
69,581)
Total retained earnings
$
101,114
$
108,613
Total liabilities and retained earnings
$
114,008
$
109,650
1981
1980
Operating revenues
Memberships
$
5,452
$
5,769
Registration fees
459 590
41,715
Retail sales less,cost of goods sold
4,256
3,193
Total operating revenues
$
55 298
$
50,677
Operating expenses
Administration
Personal services
$
21,546
$
16,836
Contractual services
2,758
1,555
Commodities
3,958
5,681
Other charges
3,360
2,947
$
31,622
$
27,019
Occupancy.
Personal services
$
2,171
$
2,416
Contractual services
7,7.04
7,424
Commodities
3,175
1,092
$
13,050
$
10,932
. Instructors - Personal services
$
27,321
$
28,338
Depreciation
$
1,290
$
1,290
Total operating expenses
$
73,283
$
67,579
-Operating loss
$(
17,985)
$(
16,902)
Other revenues
Donations
$
8,503
$
1,730
Other
1,983
29346
Total other revenues
$
10,486
$
4,076
Net loss before transfer
$(
7,499)
$(
12,826)
t. Transfer from Park Fund
5,175
Net decrease in retained earnings
$(
7,499)
$(
7,651)
Retained earnings January 1
108,613
116,264
Retained earnings December 31
Y .
$ 101,114
$ 108,613
81
CITY OF EDINA, MINNESOTA
ART CENTER FUND
COMPARATIVE STATEMENT OF CHANGES IN FINANCIAL POSITION
YEARS ENDED DECEMBER 31, 1981 AND 1980
1981
1980
Source of working capital
Transfers from other funds
$ -0-
$ 5,175
Uses of working capital
Operations
Net loss
$ 7,499
$ 12,826
Item not requiring use of working capital
Depreciation
( 1,290)
( 1,290)
Total from operations
$ 6,209
$ 11,536
Additions to property and equipment
76,781
7,032
Total uses of working capital
$ 82,990
$ 18,568
Net decrease in working capital
$(82,990)
$(13,393)
Various elements of net increase (decrease)
in working capital
Cash
$(72,036)
$(43,081)
Due from other funds
( 1,040)
Inventory
903
( 777)
Accounts payable
( 1,898)
6,470
Due to other funds
(10,653)
25,303
Accrued payroll
694
( 268)
Net decrease in working capital
$(82,990)
$(13,393)
82
CITY OF EDINA, MINNESOTA
COMPARATIVE STATEMENT OF GENERAL FIXED ASSETS
DECEMBER 31, 1981 AND 1980
$11,024,306 $10,025,097
Investment in General Fixed Assets
General Fund $ 5,054,785 $ 4,381,537
Park Fund 5,969,521 5,643,560
$11,024,306 $10,025,097
1981
1980
General Fixed Assets
Land
$ 2,281,117
$ 2,280,117
Land improvements
1,405,617
1,321,402
Buildings
1,869,340
1,493,080
Furniture and fixtures
262,124.
161,050
Vehicles
170,554
139,048
Tools
5,812
5,812
Election equipment
131,320
131,320
Engineering equipment
49,596
49,055
Fire equipment
492,770
422,699
Highway equipment
1,133,403
1,039,550
Park equipment
229,691
197,914
Police equipment
312,346
302,524
Miscellaneous equipment
126,475
88,196
Traffic signals equipment
91,706
91,706
Parks
2,462,435
2,281,101
Construction in progress
20,523
$11,024,306 $10,025,097
Investment in General Fixed Assets
General Fund $ 5,054,785 $ 4,381,537
Park Fund 5,969,521 5,643,560
$11,024,306 $10,025,097
83
CITY OF EDINA, MINNESOTA
COMPARATIVE STATEMENT OF GENERAL LONG -TERM DEBT
DECEMBER 31. 1981 AND 1980
Amount available for payment of General
Long -Term Debt
Amount available in general debt
service funds
General Long -term Debt payable
and fund balance
1981
$6,500,000
1980
$2,100,000
General long -term debt payable $6,500,000 $2,100,000
SECTION III
STATISTICAL SECTION
85
CITY OF EDINA, MINNESOTA
SCHEDULE OF CASH, INVESTMENTS AND SECURITY FOR DEPOSITS
DECEMBER 31, 1981
Face.amount of
securities pledged
Cash and by depository
investments as collateral
First Edina National Bank, Edina, Minnesota
Checking account $ 203,382
Savings account 8,649
Certificates of deposit 500,000
$ 712,031 $1,235.000
First Southdale National Bank,
Edina, Minnesota
Deposit account $( 37,802)
Payroll account 25,892
Certificates of deposit 900,000
$ 888,090 $ 980,000
Southwest Fidelity State Bank, Edina, Minnesota
Certificates of deposit $ 700,000 $ 696,660
Americana State Bank, Edina, Minnesota
Certificates of deposit $ 100,000 $ —0—
First National Bank of Minneapolis
Minneapolis, Minnesota
U.S. Government Securities $ 470,995 $ 950,000
City of Edina Bonds $ 12,729
Land $ 24,500
Donated securities $ 995
Petty cash and change funds $ 6,000
Total cash and investments $2,915,340
Additional coverage of $100,000 for demand and time deposits is provided at each
depository by the Federal Deposit Insurance Corporation.
CITY OF EDINA, MINNESOTA
COMBINED SCHEDULE OF INDEBTEDNESS
DECEMBER 31, 1981
Final 1981 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 1007.
General Obligation Tax
Increment Bonds, Series 1981 9.50 -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 1981 (Refinancing Issue)
9.5
10/1/81
10/1/84
None
Revenue bonds
Golf Course Bonds
3.20 -3.50
12/1/63
12/1/87
Recreation Center Series A
3.20 -3.30
9/1/65
9/1/82
Recreation Center Series B
3.00
9/1/65
9/1/82
Recreation Center Series D
5.20 -5.25
11/1/78
11/1/85
None
Total bonded indebtedness
Indebtedness
Authorized
Due
in 1982
and issued
Redeemed
Outstanding
Principal
Interest
$ 2,200,000
$ 200,000
$ 2,000,000
$ 100,000
$
122,750
41500,000
4,500,000
456,975
$ 6,700,000
$ 200,000
$ 6,500,000
$ 100,000
$
579,725
$ 3,500,000
$ 2,500,000
$ 1,000,000
$ 500,000
$
55,000
2,700,000
1,200,000
1,500,000
300,000
65,100
4,200,000
4,200,000
399,000
$10,400,000
$ 3,700,000
$ 6, 700,,000
$ 800, 000
$
519,100
$ 825,000
$ 535,000
$ 290,000
$ 40,000
$
10,010
300,000
270,000
30,000
30,000
990
150,000
135,000
15,000
15,000
-450
370,000
120,000
250,000
60,000
13,035
$ 1,645,000
$ 1,060,000
$ 585,000
$ 145,000
$
24,485
$18.745,000
$ 4,960,000
$13,785,000
$.1,045,000
$ 1,123,310
88
CITY OF EDINA,
MINNESOTA
SCHEDULE OF
CHANGES IN
BONDED INDEBTEDNESS
YEAR
ENDED DECEMBER 31, 1981
Balance
Balance
January 1
Issued
Redeemed
December 31
General obligation bonds $
2,100,000
$ 4,500,000
$ 100,000
$ 6,500,000
Special assessment bonds
7,950,000
4,200,000
5,4501000
6,700,000
Revenue bonds
Golf Course
330,000
40,000
290,000
Recreation Center
400,000
105,000
295,000
$10,780,000
$ 8,700,000
$ 5,695,000
$13,785,000
BONDS PAYABLE
DECEMBER 31, 1981
Issue
Interest
Maturity
Principal
date
rate
date
amount
General obligation bonds
$2,200,000 General Obligation
Redevelopment Bonds
12/1/.75
$100,000 per year
5.50 -5.90
12/1/82 -86
$ 500,000
_ $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
$2,000,000
$4,500,000 General Obligation
Tax Increment Bonds,-..Series
1981
10/1/81'
$450,000 per year
9.50
10/1/84 -85
$ 900,000
October 1, 1986
9.70
10/1/86
450,000
October 1, 1987
.9.85
10/1/87
450,000
October 1, 1988
10.00
10/1/88
450,000
October 1, 1989
10.20
10/1/89
450,000
October 1, 1990
10.40
10/1/90
450,000
October 1, 1991
10.60
10/1/91
450,000
October 1, 1992
10.80
10/1/92
450,000
October 1, 1993
11.00
10/1/93
450,000
$4,500,000
Total general obligation
bonds
$6,500,000
:•
CITY OF EDINA, MINNESOTA
BONDS PAYABLE (CONTINUED)
DECEMBER 31, 1981
Issue
Interest
Maturity
Principal
date
rate
date
amount
Special assessment bonds
$3,500,000 Improvement Bonds
of 1975
12/1/75
$500,000 per year
5.30 -5.50%
12/1/82 -83
$
1,000,000
$2,700,000 Improvement Bonds
of 1977
11/1/77
$300,000 per year
4.25 -4.40
11/1/82 -86
$
1,500,000
$4,200,000 Temporary Improvement
Bonds of 1981
(Refinancing Issue)
10/1/81
$4,200,000
9.50
10/1/84
$
4,200,000
Total special assessment
bonds
$
6,700,000
Revenue bonds
$825,000 Golf Course Bonds
12/1/63
December 1, 1982
3.30 -3.40
12/1/82
$
40,000
$50,000 per year
3.40 -3.50
12/1/83 -87
250,000
$
290,000
$300,000 Recreation Center
Series A
9/1/65
September 1, 1982
3.30
9/1/82
$
30,000
$150,000 Recreation Center
Series B
9/1/65
September 1, 1982
3.00
9/1/82
$
15,000
$370,000 Recreation Center
Series D
11/1/78
$60,000 per year
5.20
11/1/82 -84
$
180,000
$70,000 per year
5.25
11/1/85
70,000
$
250,000
Total revenue bonds
$
585,000
Total bonds payable
$13,785,000
I
CITY OF EDINA, MINNESOTA
DEBT SERVICE REQUIREMENTS
DECEMBER 31, 1981
Year
General Obligation
Bonds
Special Assessment Bonds
Revenue
Bonds
ended
Principal
Interest
Principal
Interest
Principal
Interest
1982
$ 100,000
$ 579,725
$ 800,000
$ 519,100
$145,000
$ 24,485
1983
100,000
574,225
800,000
478,700
110,000
18,565
1984
550,000
568,725
4,500,000
438,300
110,000
13,745
1985
550,000
520,375
300,000
26,400
120,000
8,925
1986
550,000
471,875
300,000
13,200
50,000
3,500
1987
650,000
422,325
50,000
1,750
1988
650,000
366,000
1989
650,000
308,800
1990
650,000
250,500
1991
650,000
191,100
-
1992
700,000
130,600
1993
700,000
65,750
$6,500,000
$4,450,000
$6,700,000
$1,475,700
$585,000
$ 70,970
91
.CITY OF EDINA, MINNESOTA
TAX LEVIES AND COLLECTIONS
SPECIAL ASSESSMENT LEVIES AND COLLECTIONS
Percentage
Collection
Percentage
Collection
of total
Total
of current
of levy
of prior
Total
collections
Year
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
SPECIAL ASSESSMENT LEVIES AND COLLECTIONS
Percentage
Collection
Percentage
Collection
of total
Total
of current
of levy
of prior
Total
collections
Year
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
93
CITY OF EDINA, MINNESOTA
ASSESSED VALUATION, TAX LEVIES AND MILL RATES
(shown by year of tax collectibility)
Mill rates
General Fund 7.226 8.134 7.986 7.881
Park Fund .999 1.079 1.194 1.184
Bonds and interest .782 .597
Fire protection .039 .039 .034
Total 9.046 9.849 9.214 9.065
1979
1980
1981
1982
Assessed valuation
$416,601,475
$436,802,624
$504,778,611
$564,735,561
Increment valuation
( 2,049,949)
( 6,083,511)
( 7,973,641)
(10,665,671)
Contribution to fiscal
disparities pool
(13,851,121)
(15,346,797)
(19,175,260)
(26,853,542)
Received from fiscal
disparities pool
3,407,244
4,125,589
5,206,302
8,292,333
Taxable valuation
$404,107,649
$419,497,905
$482,836,012
$535,508,681
Tax levies
General Fund
$ 2,920,038
$ 3,415,958
$ 3,858,796
$ 4,221,258
Park Fund
403,696
448,187
576,934
634,175
Bonds and interest
316,009
247,977
Fire protection
15,757
16,200
16,426
Total
$ 3,655,500
$ 4,128,322
$ 4,452,156
4,85.5,433
Mill rates
General Fund 7.226 8.134 7.986 7.881
Park Fund .999 1.079 1.194 1.184
Bonds and interest .782 .597
Fire protection .039 .039 .034
Total 9.046 9.849 9.214 9.065