HomeMy WebLinkAbout1980 HRA Financial StatementsCITY OF EDINA, MINNESOTA
FINANCIAL STATEMENTS
DECEMBER 31, 1980
CITY OF EDINA, MINNESOTA
ELECTED AND APPOINTED OFFICIALS
DECEMBER 31, 1980
Elected
Mayor James Van Valkenburg
Council
C. Wayne Courtney
June A. Schmidt
A. Charles Bredesen III
Frederick S. Richards
Effective January 1981
Mayor C. Wayne Courtney
Council
A. Charles Bredesen III
Frederick S. Richards
June A. Schmidt
Leslie C. Turner
Appointed
Manager - Kenneth E. Rosland
Treasurer and Finance Director - J. N. Dalen
Clerk Florence Hallberg;
* First official business day
. Term of
office expires
January*
1981
1981
1981
1983
1983
1985
1983
1983
1985
1985
CITY OF EDINA, MINNESOTA
TABLE OF CONTENTS
.SECTION I
INTRODUCTORY SECTION
Comments
SECTION II
FINANCIAL SECTION
Accountants' report
II -A. General Purpose Financial Statements
Combined balance sheet - all fund types and account groups
Combined statement of revenue, expenditures and fund balance -
all governmental fund types
Combined statement of revenue, expenditures and fund balance -
budget and actual - general and special revenue fund types
Combined statement of revenue, expenses and retained earnings
all proprietary fund types
Combined statement of changes in financial position - all proprietary
fund types
Notes to financial statements
II -B. Combining and Individual Fund Statements and Account Groups
General Fund
Balance sheet
Statement of changes in fund balance
Statement of revenue
Statement of expenditures
Schedule of central services expenditures
Special revenue funds
Combining balance sheet
Combining statement of revenue, expenditures and fund balance
Statements of revenue, expenditures and fund balance
Revenue Sharing Fund
Nursing Services Fund
Park Fund
General debt service funds
Combining balance sheet
Combining statement of revenue, expenditures and fund balance
Capital projects fund (Park Construction Fund)
Balance sheet
Statement of revenue, expenditures and fund balance
Page
I
1
2
4
6
8
9
10
22
23
24
26
32
33
34
35
35
36
38
39
40
41
CITY OF EDINA, MINNESOTA
TABLE OF CONTENTS (CONTINUED)
II -B. Combining and Individual Fund - Statements and Account Groups (Continued)
Page
Special assessment funds
Combining balance sheet 42
Combining.statement.of revenue, expenditures and fund balance 44
Proprietary funds (enterprise funds)
Combining balance sheet 46
Combining statement of revenue, expenses and retained earnings 50
Combining statement of changes in financial position 52
Schedule_of property and equipment 54
Waterworks Fund
Balance sheet
58
Statement of revenue,
expenses and retained
earnings
59
Statement of .changes
in financial position
60
Sewer Rental Fund
Balance sheet
61
Statement of revenue,
expenses and retained
earnings
62
Statement of changes
in financial position
63
Liquor Fund
Balance sheet
64
Statement of revenue,
expenses and retained
earnings
65
Statement of changes
in financial position
66
Schedule of operating
expenses
67
Swimming Pool.Fund
Balance sheet
68
Statement of revenue,
expenses and retained
earnings
69
Statement of changes
in financial position
70
Golf Course Fund
Balance sheet
71
Statement of revenue,
expenses and retained
earnings
72
Statement of changes
in financial position
73
Schedule of operating
expenses-
74
Recreation Center Fund
Balance sheet
75
Statement of revenue,
expenses and retained
earnings
76
Statement of changes
in financial position
77
Gun Range Fund
Balance sheet
78
Statement of revenue,
expenses and retained
earnings
79
Statement of changes
in financial position
80
Art Center Fund
Balance sheet
81
Statement of revenue,
expenses and retained
earnings
82
Statement of changes
in financial position
83
Statement of General Fixed Assets 84
Statement of General Long -term Debt 85
CITY OF EDINA, MINNESOTA
TABLE OF CONTENTS (CONTINUED)
SECTION III
STATISTICAL SECTION
Page
Schedule of cash, investments and security for deposits 87
Combined schedule of indebtedness 88
Schedule of changes in bonded indebtedness 90
Bonds payable 90
Debt service requirements 92
Employees' surety bonds 92
Tax levies and collections 93
Special assessment levies and collections 93
Assessed valuations, tax levies and mill rates 95
SECTION I
INTRODUCTORY SECTION
CITY OF EDINA, MINNESOTA
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, asspecified in the Statutes, "The council shall exercise the legislative
power of the City and determine all matters of policy. The city manager shall be
the head of the administrative branch of the city government and shall be responsible
to the council for the proper administration of all affairs.relating to the City."
The Council is composed of five members, including the mayor who is chairman. The
city manager is appointed by the Council.
GENERAL FUND
The General Fund was established to account for the revenues and expenditures necessary
to provide basic governmental services to the City such as general government, public
safety and public works.
A plan of financial operation of the Fund is set forth
by Council. The General Fund statements are prepared
and actual amounts. A condensed summary of operations
Revenue and other sources
General property taxes
Licenses and permits
Intergovernmental revenue
Fines and forfeitures
Charges for services
Miscellaneous revenue
Reserve for commitments
Transfers from other funds
Appropriated surplus
Total revenue
Expenditures and other uses
General government
Public safety
Public works
Unallocated general expense
Central services
Reserve for canmitments
Transfers to other funds
Total expenditures
Budget
$2,794,239
192,900
1,913,289
159,000
277,900
64,500
37,600
315,000
159,700
1980
in the annual budget adopted
to show the budget estimates
is shown below:
Actual
$2,826,696
229,646
1,980,034
236,801
258,908
70,774
37,600
315,000
1979
Budget Actual
$2,643,661
186,300
1,534,757
114,500
200,700
62,700
72,288
288,225
209,564
$2,605,481
262,212
1,511,513
158,196
293,653
82,277
80,588
288,225
$5,914,128 $5,955,459 $5,312,6.95 $5,282,145
$ 732,774
$ 754,849
$ 660,580
$ 670,390
2,970,607
2,929,500
2,672,801
2,.667,384
1,770,299.
1,732,689
1,562,430
1,564,222
266,168
251,680
210,684
222,160
( 13,100)
( 108,038)
74,200
68,581
172,380
172,380
117,000
117,000
15,000
15,000
15,000
15,424
$5,914,128 $5,748,060 55,312,695 $5,325,161
During 1980 the fund balance increased $207,399 to $551,971 at December 31, 1980.
$184,800 of the fund balance has been appropriated to finance the 1981 budget, leaving
an unappropriated fund balance of $367,171.
I
SPECIAL REVENUE FUNDS
Special revenue funds are established to account for taxes and other revenue set
aside for a particular purpose. Following is a brief description of each fund.
Revenue Sharing Fund - The Revenue Sharing Fund was established to account for
revenue received from the Federal government in accordance with the "State and Local
Fiscal Assistance Act of 1972." Expenditures can only be made from this fund as
outlined in the Act. The City's share of revenue for 1980 was $223,171. During
1980 transfers of $225,000 were made to the.General Fund leaving a fund balance of
$342,280 at December 31, 1980.
Nursing Services Fund - This fund was establsihed 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 could be closed.
Park Fund - The Park Fund was established to account for administration and main-
tenance of City parks. Expenditures exceeded revenue by $316,262 during 1980, the
reserve and - deposits increase $155,285 leaving a deficit fund balance of $160,056
at December 31, 1980.
GENERAL DEBT SERVICE FUNDS
The General Debt Service funds are used to account for the accumulation of resources
and for payment of general obligation bonds or other general indebtedness and interest
thereon. General property taxes are being collected to provide the necessary funds.
Park Sinking Fund - The Park Sinking Fund was established to account for debt retire-
ment of the Park Construction Bonds of 1957 and the General Obligation Park Bonds of
1975. Included in the fund at December 31, 1980 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.
Redevelopment Sinking Fund - The Redevelopment Sinking Fund was established to account
for debt retirement of the 1975: Redevelopment Bonds.
CAPITAL PROJECTS FUND (Park Construction)
The Park Construction Fund was established to account for improvements to park
facilities. This fund was closed into the Park Fund in 1980.
SPECIAL ASSESSMENT FUNDS
Special assessment funds are established to account for assessments levied to finance
improvements or services deemed to benefit the properties against which the assess-
ments are levied. Primarily, the transactions accounted for in special assessment
construction funds are receipt of bond proceeds and disbursement of bond proceeds
for construction work done. Special assessment debt service funds are used primarily
to account for collection of assessments against benefited property owners and
disbursement of assessment collections for the payment of bonds and interest.
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.
II
ENTERPRISE FUNDS (CONTINUED)
Waterworks Fund - The Waterworks Fund accounts for the operations of the City -owned
water system. Shown below is a condensed summary of operations for the last three
years.
Yorkdale
Sales
1980
1979
1978
Operating revenue
$ 778,195 $
544,596
$ 573,856
Operating expenses
853,464
830,771
733,479
Operating loss
$( 75,269) $(
286,175)
$( 159,623)
Other revenue
28,448
31,878
21,281
Net loss
S( 46,821) 254,297)
$( 138,342)
Sewer Rental Fund - The Sewer Rental Fund accounts for
the operations of the sewer
collection system. Shown below is
a condensed summary
of operations for the last
three years.
Operating income
$ 117,957
5.65
1980
1979
1978
Operating revenue
$1,388,669 $1,162,176
$1,139,177
Operating expenses
1,688,256 1,530,478
1,469,615
Operating loss
$( 299,587) $(
368,302)
$( 330,438)
Other revenue
91,202
131,825
75,390
Net loss
$( 208,385) 236,477)
$( 255,048)
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.
1980
1979
1978
Percent
Percent
Percent
Amount
of sales Amount
of sales
Amount of sales
50th Street
Sales $1,200,309 .
100.00 $1,077,915
100.00
$ 889,916 100.00
Cost of goods sold 1,000,487
83.36 934,181
86.67
728.535 81.87
Gross profit $ 199,822
16.64. $ 143,734
13.33
$ 161,381 18.13
Operating expenses 153,924
12.83 133,094
12.34
116,550 13.10
Operating income $ 45,898
3.81 $ 10,640
.99
$ 44,831 5.03
Yorkdale
Sales
$2,510,132
100.00
$2,222,356
100.00
$2,077,977
100.00
Cost of goods sold
2,092,917
83.38
1,860,094
83.70
1,745,612
84.01
Gross profit
$ 417,215
16.62
$ 362,262
16.30
$ 332,365
15.99
Operating expenses
228,126
9.09
195,511
8.80
175,769
8.46
Operating income $ 189,089 7.53 $ 166,751 7.50 $ 156.596 7.53
Grandview
Sales
$2,081,391
100.00
$1,908,976
100.00
$1,721,350
100.00
Cost of goods sold
1,774,629
85.27
1,639,540
85.89
1,450,507
84.26
Gross profit
$ 306,762
14.73
$ 269,436
14.11
$ 270,843
15.74
Operating expenses
188,805
9.08
165,773
8.68
147,045
8.54
Operating income
$ 117,957
5.65
$ 103,663
5.43
$ 123,798
7.20
III
ENTERPRISE FUNDS (CONTINUED)
Liquor Fund (Continued)
During 1980 net income for all stores was $448,119. Transfers to other funds during
the year were $400,000 or 89.3% of net income. The $400,000 transfer was the
equivalent of a .95 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.
1980 1979 1978
Operating revenue $ 59,109 $ 52,008 $ 51,789
Operating expenses 77,279 62,4.25 65,165
Net loss $( 18,170) $( 10,417) $( 13,376)
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, $330,000
of which remain outstanding at December 31, 1980. Shown below is a condensed summary
of operations for the last three years.
Operating revenue
Operating expenses
Operating income
Other revenue (expense)
Net income
1980
$ 490,952
400,753
$ 90,199
( 25,765)
1979
$ 403,224
342.420
$ 60,804
( 21,838)
1978
$ 404,475
301,783
$ 102,692
x.15,369)
$ 64,434 $ 38,966. $ 87,323
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, $400,000 of which remain,
outstanding at December 31, 1980. Revenues of this fund are pledged for payment of
principal and interest on these bonds. Shown below is a condensed summary of
operations for the last three years.
Operating revenue
Operating expenses
Operating income (loss)
Other revenue-(expense)
Net loss
1980
$ 234,979
340,404
$( 105,425)
( 7,010)
1979
$ 241,808
267.797
$( 25,989)
( 8,285)
1978
$ 194,547
257,465
$( 62,918)
( 5,003)
$( 112,435) $( 34,274) $( 67,921)
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.
Operating revenue
Operating expenses
Net income (loss)
1980
$ 18,025
17.753
S 272
IV
1979
$ 18,179
18,086
$ 93
1978
$ 13,742
14,178
$ ( 436)
ENTERPRISE FUNDS (CONTINUED)
Art Center Fund - The Art Center Fund accounts for the operations of the City -owned
Art Center which was established during 1977. Shown below is a condensed summary
of operations for the last three years.
Operating revenue
Operating expenses
Operating loss
Other revenue (expense)
Net loss
HOME IMPROVEMENT PROGRAMS
1980 1979 1978
$ 50,677 $ 48,840 $ 32,946
67,579 69,168 44,411
$( 16,902) $( 20,328) $( 11,465)
4,076 ( 3,624) 8,499
$( 12.826) $( 23,952) $( 2.966)
The City administers two home improvement programs, the MHFA Grant Fund and City of
Edina Deferred Payment Home Improvement Loan Program. Revenue is received from the
State of Minnesota and Department of Housing and Urban Development, respectively,
and is disbursed in accordance with the requirements of each program from separate
accounts maintained with the First Edina National Bank. The administrative allowance
received from the State of Minnesota in connection with the MHFA Grant Fund is
transferred to the General Fund to defray administrative expenses of the program.
Financial information relating to these programs is not included in these financial
statements.
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 expense
in funds, other than the proprietary funds, at the time of purchase. Such assets
are capitalized at cost in this group of accounts. No depreciation has been
provided on the General Fixed Assets.
GENERAL LONG -TERM DEBT GROUP OF ACCOUNTS
This group of accounts is used to account for the general obligation bonds which
are to be paid by general revenues.
The debt reflected in this account is an obligation of the City as a whole and not
of any of the City's individual funds.
IN
SECTION II
FINANCIAL SECTION
GEORGE M. HANSEN COMPANY, P.A.
A Prgfessional Corporation of Certified Public Accountants
175 SOUTH PLAZA BUILOING
MINNEAPOLIS, MINNESOTA 55416
ACCOUNTANTS' REPORT
The City Council of
Edina, Minnesota
We have examined the combined financial statements of the City of Edina, Minnesota,
as of and for the year ended December 31, 1980, 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.
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
combined financial statements referred to above present fairly the financial position
of the City of Edina, Minnesota, at December 31, 1980, 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.
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
subjected 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 5, 1981
2
CITY OF EDINA, MINNESOTA
COMBINED BALANCE SHEET
ALL FUND TYPES AND ACCOUNT GROUPS
DECEMBER 31, 1980
ASSETS
Cash (deficit)
Investments
Taxes receivable
Unremitted
Delinquent
Deferred
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
Contractsreceivable
Prepaid expense
Inventories
Construction in progress
Unallocated construction costs
Property and equipment less
accumulated depreciation
General fixed assets
Amount available in general debt
service funds
376,700 11,994
1,002,084 111,070 2,233,550
26,539
10,000
Total assets
Governmental
Fund Types
52,722_,346
Special
Debt
General
Revenue
Service
$ 625,570
$ 219,290 $
323,096
325,495
.326,637
163,319
46,891
4,159
2,381
50,861
6,582
Contracts payable
( 50,861)
( 6,582)
69,632
1,315
165,761
376,700 11,994
1,002,084 111,070 2,233,550
26,539
10,000
Total assets
$2,482,911
$ 674,465
52,722_,346
LIABILITIES AND FUND EQUITY
Liabilities
Accounts payable
$ 157,421
$ 9,.951
Accrued expenses
137,716
26,341
Contracts payable
22,500
Due to other funds
796,788
165,761
Due to.other governmental units
27,953
Bonds payable.
Deferred revenue
Deposits
83,711
8,643
Total liabilities
$1,203,589
$ 233,196
Fund equity
Reserves
$ 727,351
$ 224,282
$ 163,663
Invested in fixed assets
Retained earnings
Fund balance
Appropriated
184,800
225,000
2,558,683
Unappropriated
3671171
( 8,013)
Total fund equity
$1,279,322
$ 441,269
$2,722,346
Total liabilities and fund equity
$2,482,911
$ 674,465
$2,722,346
See accompanying notes to financial statements.
Special
Assessment
$ 1,830,523
481,575
36,939
8,480,773
( 413,451)
3,209,315
256,900
1,764,934
662,156
Proprietary
Fund Type
Enterprise
$( 652,622)
176,047
515,425
1,220
1,077,.221
26,132
560,083
59,680
127,277
875,162
19,499,551
Account Groups
General General
Fixed Long -term
Assets Debt
$10,025,097
$16,309,664 $22,261,!Z§ $10,025,097
$ 69,650
302,598
2,560,916
155,419
7,950,000
523,405
$11,561,988
$ 189,287
40,617
4,517,772
$ 4,747,676
$'16.309,664
$ 176,238
42,818
1,151,765
33,399
730,000
560,083
2,534
$ 2,696,837
$ 52,300
17,754,551
1,761,488
$1.0,025,.097
$2,558,683
$2,558,683
$2,100,000
$ 458,683
22 265,176
40,025,097 $2,558,683
Total
$ 297,436
(Memorandum
only)
1980
1979
$ 2,345,857
$ 1,912,251
1,473,073
533,763
53,431
58,092
57,443
110,677
618,293
250,000
( 57;443)
( 123,177)
586,372
420,136
36,939
40,974
1,220
454,169
8,480,773
6,205,605
( 413,451)
( 762,440)
4,675,230
5,568,577
3,629,736
3,541,745
560,083
597,214
59,680
59,680
26,539
86,301
127,277
124,043
885,162
635,104
1,764,934
5,417,012
662,156
165,102
19,499,551
19,418,584
103025,097
9,430,205
2,558,683 2,943,366
$57,038,342 $57,086,.983
$ 343,610
$ 297,436
276,525
210,640
325,098
312,722
4,675,230
5,568,577
216,771
52,976
10,780,000
10,725,000
560,083
597,214
618,293
871,216
$17,795,610
$18,635,781
$ 1,356,883
$ 1,752,703
27,779,648
26,908,789
13,761,488
1,802,760
3,467,783
4,033,197
4,876,930
3,953,753
$39,2429732
$33_8,451,202
$57,038,342
57 086,983
3
4
CITY OF EDINA, MINNESOTA
COMBINED STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE
ALL GOVERNMENTAL FUND TYPES
YEAR ENDED DECEMBER 31, 1980
See accompanying notes to financial statements.
Special
General
Revenue
Revenue
Taxes
$
2,826,696
$
368,591
Licenses and permits
229,646
Intergovernmental revenue
Federal
11,645
223,171
State
1,874,579
87,959
County
93,810
Charges for services
258,908
73,372
Fines and forfeitures
236,801
Other
20,655
5,296
Interest on investments
39,806
30,629
Sale and rental.of property
10,313
Interest on special assessments
Interest on bonds issued
Parkland dedication
128,603
Reimbursement from other funds
Total revenue
$
5,602,859
$
917,621
Other sources
Transfers from other funds
315,000
230,000
Reserve .for commitments
37,600
Adjust assessments and uncollectible receivables
Capitalized interest
Bond proceeds
Adjustment of accrued interest
Total revenue and other sources
$
5,955,459
$
1,147,621
Expenditures
Current
General government
$
754,849
$
595
Public safety
2,929,500
Public works
1,732,689
Unallocated general expense
143,642
Other
Parks
788,631
Capital outlay
161,928
Debt service
Bond principal
Interest and service charges
Construction costs
Interest
Total expenditures
$
5,560,680
$
951,154
Other uses
Reserve for commitments
172,380
Transfer to other.funds
15,000
499,300
Adjustment of provision for uncollectible receivables
Bonds issued
Total expenditures and other uses
$
5,748,060
$
1,450,454
Net increase (decrease) in fund balance
$
207,399
$(
302,833)
Decrease (increase) in reserve and deposit accounts
155,285
Fund balance January 1, as restated (Note 17)
344,572
364,535
Fund balance December 31
$ 551,971
$ 216,987
See accompanying notes to financial statements.
Debt
Service
$ 128,391
13,860
Capital
Projects
$ 54,594
2,200
$ 56,794
354,300
$ 142,251 $ 411,094
$ 350,000
145,261
31,673
$( 384,683)
2,943,366
$ 2,558,683
$ 92
180,697
1,200
$ 181,989
$ 229,105
15,000
( 244,105)
$ -0-
Special
$ 897,836
60,058
519,463
4,316,130
$ 5,793,487
44,870
398,193
1,400,000
4,442
$ 7,640,992
$
6,760
414,481
1,813,830
$ 2,.235,071
132,612
1,400,000
$ 3,767,683
$ 3,873,309
(3,400,136)
4,085,216
$ 4,558,389
Total
(Memorandum
only)
1980
1979
$ 3,195,287
$ 2,962,212
229,646
262,212
234,816
229,838
2,860,374
1,898,549
148,404
83,788
332,280
357,863
236,801
158,196
154,342
169,071
144,353
200,660
12,513
20,550
519,463
333,950
8,381
128,603
128,392
4.316.130
462.751
$12,513,012 $ 7,276,413
899,300
37,600
44,870
398,193
1,400,000
4.442
$15,297,417
$ 755,444
2,929,500
1,732,689
143,642
6,852
788,631
161,928
350,000
559,742
1,994,527
1.200
$ 9,424,155
172,380
514,300
164,285
1.400.000
$11,675,120
$ 3,622,297
(3,229,851)
7,493,584
$ 7i886,030
647,462
80,588
81,263
21,930
1,500,000
7.627
$ 9,615,283
$ 669,580
2,615,634
1,507,306
290,741
5,110
724,425
126,742
350,000
560,621
3,106,532
1.500
$ 9,958,191
117,000
288,429
21,432
1.500.000
$11,885,052
$(2,269,769)
1,909,966
7,853,387
$ 7,493,584
5
M
CITY OF EDINA, MINNESOTA
COMBINED STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE
BUDGET AND ACTUAL - GENERAL AND SPECIAL REVENUE FUND TYPES
YEAR ENDED DECEMBER 31, 1980
Revenue
Taxes
Licenses and. permits
Intergovernmental revenue
.Federal
State
County
Charges for services
Fines and forfeitures
Other
Interest on investments
Sales and rental of property
Parkland dedication
Total revenue
Other sources
Appropriated surplus
Reserve for commitments
Transfers from other funds
Total other sources
Total revenue and other sources
Expenditures
General government
Public safety
Public works
Unallocated general expense
Parks
Current expense
Capi.tal outlay
Total expenditures
Other uses.
Transfer to other funds
Reserve for commitments
Total expenditures and other uses
Net increase (decrease) in fund balance
Decrease in reserve and deposit accounts
Fund balance January
Fund balance December 31
See accompanying notes to financial statements.
General
Budget Actual
$2,794,239 $2,.826,696
192,900 229,646
6,000
11,645
1,816,648
1,874,579
90,641
93,810
277,900
258,908
159,000
236,801
22,000
201655
35,000
39,806
7,500
10,313
$5.,401,828 $5,602,859
$ 159,700
37,600 $ 37,600
315,000 315,000
$ 512,300 $ 352,600
$5,914,128 $5,955,459
$ .732,774
$ 754,849
2,970,607
2,929,500
1,770,299
.1,732,689
253,068
143,642
$5,726,748 $5,560,680
15,000 15,000
172,380 172,380
$5,914,128 $5,748,060
$ -0- $ 207,399
344,572
$ 551,971
7
Total
Special
Revenue
(Memorandum
only)
Budget
Actual
Budget
Actual
$ 364,174
$
368,591
$3,158,413
$3,195,287
192,900
229,646
225,000
2233,171
231,000
234,816
87,959
87,959
1,904,607
1,962,538
90,641
93,810
29,000
73,372
306,900
332,280
1592000
236,801
1,000
5,296
23,000
25,951
3,000
30,629
38,000
70,435
71500
10,313
128,603
128,603
$ 710,133
$
917,621
$6,111,961
$6,520,480
$ 159,700
37,600
$ 37,600
$ 230,000
$
230,000
545,000
545,000
$ 230,000
$
230,000
$ 742,300
$ 582,600
$ 940,133
$1,147,621
$6,854,261 .$7,103,080
$
595
$ 732,774
$ 755,444
2,970,607
2,929,500
1,770,299
1,732,689
253,068
143,642
$ 693,133
788,631
693,133
788,631
22,000
161,928
22,000
161,928
$ 715,133
$
951,154
$6,441,881
$6,511,834
225,000
499,300
2402000
514,300
172,380
172,380.
$ 940,133
$1,450,454.
$6,854,261
$7,198,514
$ -0-
$(302,833)
$ -0-
$( 95,434)
155,285
155,285
364,535
709,107
$ 216,987
$ 768,958
0
CITY OF EDINA, MINNESOTA
COMBINED STATEMENT OF REVENUE, EXPENSES AND RETAINED EARNINGS
ALL PROPRIETARY FUND TYPES
(ENTERPRISE FUNDS)
YEAR ENDED DECEMBER 31, 1980
SALES AND COST OF SALES
Sales
.Cost of sales
Gross profit.
OPERATING REVENUE
Charges for services
Total gross profit and operating revenue
OPERATING EXPENSES
Operating income
OTHER REVENUE
Interest
Discounts
Prior year's disposal charges
Current value credit - MWCC
Rental income
Deferred charges
Donations
Other
OTHER EXPENSE
Interest and paying agent fees
Other
Net income (loss)
TRANSFERS FROM (TO) OTHER FUNDS
PROPERTY AND EQUIPMENT CONTRIBUTED BY
SPECIAL ASSESSMENTS
DECREASE IN RESERVES
RETAINED EARNINGS January 1
RETAINED EARNINGS December 31
See accompanying notes to financial statements.
1980 1979
$ 5,791,832 $ 5,209,247
4,868,033 4,433,815
$ 923,799 $ 775;432
3,020,606 2,470,831
$ 3,944,405 $ 3,246,263
4,016,343 3,615,523
( 71,938) $( 369,260)
$ 37,734
86,015
18,747
61,020
4,776
6,659
1,730
4.012
$ 220,693
$ 34,314
253
$ 34,567
$ 53,874
74,735
59,588
61,020
4,776
6,441
1,560
3.210
$ 265,204'
$ 46,375
6,888
$ 53,263
$ 114,188 $( 157,319)
( 339,202)
408,059
51,650
19,281,344
$19,516,039
( 359,033)
213,061
1,650
19,582,.985
$19,281.344
CITY OF EDINA, MINNESOTA
COMBINED STATEMENT OF CHANGES IN FINANCIAL POSITION
ALL PROPRIETARY FUND TYPES
(ENTERPRISE FUNDS)
YEAR ENDED DECEMBER 31, 1980
Funds provided
Operations
Net income (loss)
Item not requiring current outlay of funds
Depreciation
Contributions in aid to construction.
Disposal of property and equipment
Transfers from other funds
Deposits
Decrease in notes receivable
Fund applied
Additions to property and equipment
Current installment on long -term debt
Transfers to other funds
Increase in reserves and deposits
Net increase (decrease)
Various elements of net change in working capital
Cash
Investments
Receivables
Due from other funds
Due from other governmental units
Prepaid expenses
Inventories
Accounts payable
Accrued liabilities
Due to other funds
Due to other governmental units
Bonds payable
Net increase (decrease) in working capital
See accompanying notes to financial statements.
1980
$ 114,188
452,860
$ 567,048
408,059
823
60,798
1,634
4,973
$1,043,335
$ 534,650
145,000
400,000
$1,079,650
$( 36,315)
$( 830,679)
144,286
77,074
49,477
( 65,228)
7,102
250,058
1,112
( 5,557)
291,017
( 4,977)
50,000
$( 36,315)
1979
$( 157,319)
426,835
$ 269,516
213,061
170
15,967
4,974
$ 503,688
$ 728,819
195,000
375,000
1,121
$1,299,940
$( 796,252)
$( 522,494)
84,372
( 109,515)
10,818
( 58,129)
35,154
( 52,882)
( 133,576)
( 50,000)
$( 796,252)
E
10
CITY OF EDINA, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 1980
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 prescribes 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 six generic fund types
and two broad fund categories as follows:
GOVERNMENTAL FUNDS
General Fund - The General Fund is the general operating fund of the City.
It is used to account for all financial resources except those required to
be accounted for in another fund.
Special Revenue Funds - Special Revenue Funds are used to account for the
proceeds of specific revenue sources that are restricted to expenditures
for specified purposes.
Debt Service Funds - Debt Service Funds are used to account for the accumu-
lation of resources for, and the payment of, general long -term debt
principal, interest, and related costs.
Capital Projects Funds - Capital Projects Funds are used to account for
financial resources to be used for the acquisition or construction of
major capital facilities and projects.
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.
11
CITY OF EDINA,_MINNESOTA
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1980
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. Fixed Assets and Long -term Liabilities
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 and expendable trust 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 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 - assess-
ment 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, 1980
Note 1 - Summary of Significant Accounting Policies (Continued)
B. Fixed Assets and Long -term Liabilities (Continued)
All proprietary funds and the special assessment 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 or fund balance
components. The operating statements of the funds present increases
(revenues) and decreases (expenses) in net total assets.
Depreciation of'all exhaustible fixed assets used by proprietary funds is
charged as an expense against their operations. Accumulated depreciation
is reported on proprietary fund balance sheets. Depreciation has been
provided over the estimated useful lives using the straight -line method.
The City follows the practice of including, as part of property, plant
and equipment of these funds, the cost of collection systems which are
paid for by assessments against benefited property.
C. Basis of Accounting
Basis of accounting refers to when revenues and expenditures or expenses
are recognized in the accounts and reported in the financial statements.
Basis of accounting relates to the timing of the measurements made,
regardless of the measurement focus applied.
The General Fund, special revenue funds, general debt service funds, and
the capital projects fund 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) principal
and interest on general long -term debt which is recognized when due.
The Special Assessment Fund and the proprietary fund types are accounted
for using the accrual basis of accounting, except for interest on special
assessments receivable and special assessment bonds which is recognized
when due. 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.
13
CITY OF EDINA, MINNESOTA
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1980
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, 1980. 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,
1980 for vacation.and sick pay was $225,918 and $1,015,880 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 1979 amounts have been reclassified to conform to the 1980
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, 1980
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. Deferred Taxes Receivable
General debt service funds - Through the year ended December 31, 1979,
deferred tax revenue in the amount of the principal and interest due over
the life of a bond issued was established as deferred tax revenue at time.
of issuance of bonded indebtedness. Annual adjustments were made to reflect
decreasing liabilities, current collections and allowance for delinquent
taxes receivable. At December 31, 1980 existing balances in these accounts
were written off or restated so that henceforth, taxes will be recognized
as revenue when collected.
K. Inventories
Inventories - Inventories held by the proprietary funds are stated at cost,
which is lower than market on a first -in, first -out basis.
Note 2 - Depreciation Proprietary Funds' Property and.Equipment
Certain property and equipment of the proprietary 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 229,426
Recreation Center Fund - Land improvements and building 937,365
Gun Range Fund - Land improvements and building 63,822
Art Center Fund - Land improvements and building 112,695
$1,659,362
Note 3 - Bonded Debt
The City has three types of bonded debt outstanding at December 31, 1980. 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.
CITY OF EDINA, MINNESOTA
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1980
Note 3 - Bonded Debt (Continued)
The bonded debt outstanding at December 31, 1980 is summarized as follows:
Maturities Interest rates Amount
General Obligation Bonds 1981 -1993 3.90 -6.50 $ 2,100,000
Special Assessment Bonds 1981 -1986 4.25 -7.35 7,950,000
Revenue Bonds 1981 -1987 3.00 -5.25 730,000
$10,780.000
Changes in bonded debt during.the year were as follows:
Bonds Bonds
Outstanding Outstanding
January 1 Issued Redeemed December 31
General Obligation Bonds $ 2,450,000 $ 350,000 $ 2,100,000
Special Assessment Bonds 7,350,000 $1,400,000 800,000 7,950,000
Revenue Bonds 925,000 195,000 730,000
$10,725,000 $1,400,000 $1.345,000 $10,780,000
The City has outstanding the following revenue bonds:
Golf Course Bonds of 1964 $330,000
Recreation Center Bonds, Series A of 1965 60,000
Recreation Center Bonds, Series B of 1965 30,000
Recreation Center Bonds, Series D of 1978 310,000
730 000
These 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, 1980,
including interest payments of $1,924,375 are as follows:
Year Ending
December 31
1981
1982
1983
1984
1985
1986 -1990
1991 -1995
Annual Requirements to Amortize Long -term Debt
December 31, 1980
General
Obligation
$ 225,500
222,750
217,250
211,750
206,150
1,305,600
794,050
$3,183.050
Special
$5,911,250
920,100
879,700
339,300
326,400
313,200
Revenue
$ 175,405
169,485
128,565
123,745
128,925
105,250
,Z0,007,7Dv ,:p 0 -3l,-)
T..a .,l
$ 6,312,155
1,312,335
1,225,515
674,795
661,475
1,724,050
794.050
$12.704,375
15
16
CITY OF EDINA, MINNESOTA
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1980
Note 3 - Bonded Debt (Continued)
$2,558,683 is available in the General Debt Service Fund to service the general
obligation bonds.
The City is in compliance with all significant bond covenants.
Note 4 - Changes in General Fixed Assets
A summary of changes in general fixed assets follows:
Balance
Removals or
Balance
January 1
Additions
Transfers
December 31
Land
$ 707,117
$1,573,000
$ 2,280,117
Land improvements
1,252,481
68,921
1,321,402
Buildings
1,493,080
1,493,080
Furniture and fixtures 154,267
6,783
161,050
Vehicles
107,591
31,457
139,048
Tools
5,812
5,812
Election equipment
131,320
131,320
Engineering equipment
50,347
542
$ 1,834
49,055
Fire equipment
389,081
33,618
422,699
Highway equipment
903,564
151,046
15,060
1,039,550
Park equipment
188,550
9,364
197,914
Police equipment
7.71,624
72,900
42,000
302,524
Miscellaneous
equipment
80,117
8,079
88,196
Traffic signals
equipment
91,706
91,706
Parks
2,289,571
8,470
2,281,101
Construction in
progress
3,603,548
20,523
3,603,548
20,52.3
$9,430,205
$4,265,804
$3,670,912.
$10,025,097
17
CITY OF EDINA, MINNESOTA
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1980
Note 5 - Proprietary Fund Property and Equipment
A summary of proprietary fund property and equipment at December 31, 1980 follows
Property and
Accumulated
Net
Estimated
Enterprise funds
equipment
depreciation
book value
useful life
Land $
285,341
$ 285,341
Golf course
726,414
726,414
Land improvements
136,293
$ 24,337
111,956
25
Water distribution
system
8,705,865
2,530,939
6,174,926
5 -50
Sewer collection
system
10,356,436
1,948,454
8,407,982
100
Major recreation
facilities
1,536,310
1,536,310
Major water facilities
2,585,082
1,705,168
879,914
5 -25
Buildings
658,333
146,190
512.,143
25
Furniture and fixtures
300,313
1372873
162,440
10'
Equipment and machinery
426,959
255,805
171,154
5 -10
Vehicles
25,457
15,289
10,168
5
Construction in
progress
520,803
520,803
$26,263,,606 $6,764.055 $19,499.551
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 receiv-
able. 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.
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 - Purchase Commitments
The City has entered into two purchase agreements for the purchase of duplicating
machines. At December 31, 1980, $9,168 remained outstanding on these commitments,
to be paid in accordance with the following schedule.
Date Principal
Interest
1981 $4,954
$ 367
1982 4,214
127
9 168
S 494
18
CITY OF EDINA, MINNESOTA
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1980
Note 8 - Notes Receivable
During 1977, the City sold several properties for notes or contracts receivable
the balances of which were $59,680 in the Liquor Fund and $26,539 in the General
Fund at December 31, 1980. Maturity dates range from 1981 to 1992 with interest
rates from 7% to 10.51 %. Payments have been received according to the contract
schedules.
Note 9 - Retirement Plan
The City partic.ipate.s 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 $350,019 for the
year ended December 31, 1980. 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
recreational in nature such as; Swimming Pool, Golf Course, Recreation Center, Gun
Range and Art Center. Segment information for the year ended December 31, 1980
is as follows:
Sales (less cost of
$4,868,033)
Operating revenue $
Depreciation
Net income (loss)
before transfers
Operating transfers
In
Out
Current capital
Contributions
Property, plant
and equipment
additions - Net
Water Sewer
works rental Liquor
778,195 $1,388,669
268,847 113,274
46,821) ( 208,385)
71,051 337,008
81,954 347,290
Net working
capital 1,017,521 ( 181,065)
$ 923,799
.45,962
448,119
400,000
Other
Enterprise
funds
$ 853,742
24,777
( 78,725)
60,798
12,715 89,415
681,520 ( 716,361)
Total
Enterprise
funds
$ 923,799
3,020,606
452,860
114,188
60,798
400,000
408,059
531,374
801,615
CITY OF EDINA, MINNESOTA.
NOTES TO FINANCIAL STATEMENTS (CONTINUED)..
DECEMBER 31, 1980
Note 10 - Segment Information for Enterprise Funds (Continued)
Other Total
Water Sewer Enterprise Enterprise
works rental Liquor funds funds
Bonds and other
long -term
liabilities
Payable from
Operating
Revenue
Total
assets
$8,284,599
$8,906,967
$2,241,561
Total
equity
8,211,549
8,283,130
2,073,878
Note 11 - Deposits Payable
$ 730,000 $ 730,000
2,832,049
947,482
22,265,176
19,516,039
19
Included in deposits payable are balances of $83,711 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, 1980. Upon completion of projects for which monies were received,
deposits will be applied to construction in progress.
Note 12 - Deficiency in Pledged Collateral
Minnesota Statutes require depositories for City funds to pledge collateral to secure
balances in excess of F.D.I.C. insurance coverage. The amount of deposits at a
depository cannot exceed the F.D.I.C, insurance plus ninety percent of the market
value of securities pledged as collateral by the depository. At December 31, 1980
the collateral pledged by the First National Bank Minneapolis and Southwest Fidelity
State Bank were approximately $335,000 and $25,000 respectively below the statutory
requirement.
Note 13 - Bond Proceeds
In 1975 the City issued General Obligation Park Bonds of $950,000. The proceeds of the
issue are recorded in the General Debt Service Fund and transfers are made to the
Capital Projects Fund, Park, or General Fund for land acquisition. Transfers totaling
$786,337 have been made during years ended December 31, 1975 through 1980 leaving a
balance of $163,663 at December 31, 1980.
Note 14 - 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 2%
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, 1980 there was no unfunded liability.
20
CITY OF EDINA, MINNESOTA
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1980
Note 15 - Interfund Receivable and Payable Balances
Such balances at December 31, 1980 were:
$4,675,230 $4,675,230
Note 16 - Reserved. and Appropriated Fund Equity
The December 31, 1980 fund equities classified as reserved and appropriated as
as follows:
RESERVED
Park
acquisition
Dedicated and Assessment
Fund funds Commitments improvement adjustments Other
General $ 87,123 $623,338 $ 16,890
Special
Revenue
Park
Debt Service
Park service
Special
Assessment
IBR
IBR II
Enterprise
Recreation
Center
(for debt
service)
Total L3
$224,282
163,663
$217,694
(28,407)
52300
$62.3,338 $387,945 $189,251 $ 69,190
Total
$ 727,351
224,282
163,663
217,694
( 28,407)
52,300
$1,356,883
Interfund
Interfund
Fund
receivables
payables
General
$ 376,700
$ 796,788
Special Revenue
Park
11,994
165,761
Special Assessment
Permanent Improvement Revolving
200,000
6,943
Improvement Bond Redemption - I
109,875
515,562
Improvement Bond Redemption - II
1,851,563
100,747
Construction
1,047,877
1,937,664
Enterprise
'Waterworks
341,253
48,848
Sewer Rental
52,753
Liquor
415,000
13,786
Golf Course
563,512
Recreation Center
320,713
472,866
Gun Range
255
$4,675,230 $4,675,230
Note 16 - Reserved. and Appropriated Fund Equity
The December 31, 1980 fund equities classified as reserved and appropriated as
as follows:
RESERVED
Park
acquisition
Dedicated and Assessment
Fund funds Commitments improvement adjustments Other
General $ 87,123 $623,338 $ 16,890
Special
Revenue
Park
Debt Service
Park service
Special
Assessment
IBR
IBR II
Enterprise
Recreation
Center
(for debt
service)
Total L3
$224,282
163,663
$217,694
(28,407)
52300
$62.3,338 $387,945 $189,251 $ 69,190
Total
$ 727,351
224,282
163,663
217,694
( 28,407)
52,300
$1,356,883
21
CITY OF EDINA, MINNESOTA
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 314 1980
Note 16 - Reserved and Appropriated Fund Equity (Continued).
APPROPRIATED
Note 17 - Prior Period Adjustments
Certain fund balances, as noted below, have been restated to reflect the liability
of the Edina HRA to the City for unpaid redevelopment bond principal as well as to
eliminate deferred taxes receivable and the related reserve for uncollectibles. .
Current
Debt
Fund
Operations
Service
Construction Total
General
$184,800
$ 4,423,190
$ 184,800
Special Revenue
less allowance for uncollectible taxes
Revenue Sharing
225,000
Record receivable from HRA for unpaid
225,000
General Debt Service
bond principal
2,150,000
2,150,000
Redevelopment Sinking
$ 3,261,890
$2,233,550
23,233,550
Park Sinking
325,133
325,133
Special Assessment
Decrease in reserve for
Construction
47,038
$ 40,617 40,617
General Long -term Debt
Record advances from HRA
128,250 $128,250
Account Group
Fund balance December 31, 1979, as restated $ 2,943.366
458,683
458,683
Total
$409,800
$3,017,366
$ 40,617 $3,467,783
Note 17 - Prior Period Adjustments
Certain fund balances, as noted below, have been restated to reflect the liability
of the Edina HRA to the City for unpaid redevelopment bond principal as well as to
eliminate deferred taxes receivable and the related reserve for uncollectibles. .
Revenue and other sources, as previously
reported 63,567
Revenue and other sources, as restated
General Debt Service
General Long-
Funds
term Debt
Fund Balance Revenue
Account Group
Fund balance January 1, 1979
$ 4,423,190
$ 1,623,190
Eliminate deferred taxes receivable
less allowance for uncollectible taxes
(3,311,300)
(3,311,300)
Record receivable from HRA for unpaid
bond principal
2,150,000
2,150,000
Fund balance January 1, 1979, as restated
$ 3,261,890
$ 461,890
Previously reported
Net (decrease) in fund balance
( 493,812)
( 96,774)
Decrease in reserve for
land acquisition
47,038
Prior period adjustment
Record advances from HRA
128,250 $128,250
128,250
Fund balance December 31, 1979, as restated $ 2,943.366
$ 493,366
Revenue and other sources, as previously
reported 63,567
Revenue and other sources, as restated
22
CITY OF EDINA, MINNESOTA
GENERAL FUND
BALANCE SHEET
DECEMBER 31, 1980 AND 1979
LIABILITIES AND FUND EQUITY
Liabilities
Accounts payable
1980
1979
ASSETS
84,247
Accrued payroll
Cash
$ 625,020
$ 236,831
Petty cash and change funds
550
550
Departmental cash
2,335
Investments
27,953
Land
24,500
1,007
Donated securities
995
995
U. S. Government Securities
300,000
$1,203,589
Receivables
Fund equity
Accounts receivable
69,632
27,969
Contracts receivable
26,539
86,301
Due from Edina HRA
901,035
1,044,236
Due from other governmental units
101,049
95,297
Unremitted taxes receivable
46,891
52,007
Delinquent taxes receivable
50,861
92,924
Allowance for uncollectible taxes
( 50,861)
( 92,924)
Due from other funds
376,700
280,305
Prepaid expense
623,338
3,868
Inventories
10,000
10,000
Total assets
$2,482,911
$1.841,701'
LIABILITIES AND FUND EQUITY
Liabilities
Accounts payable
$
157,421
$
84,247
Accrued payroll
137,716
102,570
Depo.sits payable
83,711
84,433
Due to other governmental. units
27,953
47,360
Due to other funds
796,788
314,770
Total liabilities
$1,203,589
$ 633,380
Fund equity
Reserves
Dedicated funds
$
87,123
$
114,323
Reserve for Morningside
10,788
Reserve for impressed cash and inventory
10,550
10,550
Reserve for commitments
623,338
728,088
Other reserves
6,340
Total reserves
$
727,351
$
863,749
Fund balance
Appropriated
$
184,800
$
159,700
Unappropriated
367,171
184,872.
Total fund balance
$
551,971
$
344,572
Total fund equity
$1,279,322
$1,208,321
Total liabilities. and fund equity
$2,482,911
$1,841,701
CITY OF EDINA, MINNESOTA
GENERAL FUND
STATEMENT OF CHANGES IN FUND BALANCE
YEARS ENDED DECEMBER 31, 1980 AND 1979
Revenue and other sources
Expenditures and other uses
Net increase (decrease) in
fund balance
Fund balance January 1
Fund balance December 31
1980 1979
Budget Actual Actual
$5,914,128 $5,955,459 $5,282,145
5,914,128 5,748,060. 5,325,161
$ -0-
$ 207,399
344,572
$ 551,971
$( 43,016)
387,588
S 344.572
23
CITY OF EDINA, MINNESOTA
GENERAL FUND
STATEMENT OF REVENUE
YEARS ENDED DECEMBER 31, 1980 AND 1979
Budget
Taxes
General property tax $2,764,239
Penalties and interest 30,000
Total taxes $2,794,239
Licenses and permits $ 192,900
Intergovernmental revenue
Federal aid
$ 6,000
State grants
Local government aid
977,875
Homestead credit
645,029
State highway aid
54,000
Police aid
100,000
Planning aid
15,074
State .aid - Trees
16,500
Other state aid
8,170
County grants
Health programs
90,641
Total intergovernmental revenue
$1,913,289
Charges for services
Engineering, clerical charges
and searches $ 128,000
Planning fees 14,000
Automobile licenses
.Housing and redevelopment authority 1,500
Charges to other funds 48,600
Ambulance service 75,000
Other 10,800
Total charges for services $ 277,900
Fines and forfeitures $ 159,000
Miscellaneous revenue
Interest $ 35,000
Sale and rental of property 7,500
Donations
Other 22,000
Total miscellaneous revenue $ 64.,500
Total revenue $5,401,828
1980
Actual
$2,795,369
31,327
$2,826,696
$ 229,646
$ 11,645
980,530
645,029
54,465
100,000
8,975
74,992
10,588
93,810
$1,980,034
$ 137,331
18,920
48,600
42,860
11,197
$ 258,908.
$ 236,801
$ 39,806
10,313
1,025
19,630
$ 70,774
$5,602,859
1979
Actual
$2,574,799
30,682
$2,605,481
$ 262,212
$ 6,874
919,699
326,265
54,465
96,300
20,592
3,530
83,788
$1,511,513
$ 209,095
10,112
19,556
39,900
14,990
$ 293,653
$ 158,196
$ 25,288
17,650
473
38.866
$ 82,277
$4,913,332
CITY OF EDINA, MINNESOTA
GENERAL FUND
STATEMENT OF REVENUE (CONTINUED)
YEARS ENDED DECEMBER 31, 1980 AND 1979
Other sources
Transfers from other funds
.Revenue. Sharing Fund
Liquor Fund
Total transfers
Reserve for commitments
Appropriated surplus
Total .other sources
Total revenue and other sources
1980 1979
Budget Actual Actual
$ 225,000 $ 225,000 $ 225,000
90,000 90,000 63,225
$ 315,000 $ 315,000 $ 288,225
37,600 37,600 80,588
159,700
$ 512,300 $ 352,600 $ 368,813
$5,914,128 $5,955,459 $5,282,145
25
26
CITY OF EDINA, MINNESOTA
GENERAL FUND
STATEMENT OF EXPENDITURES
YEARS ENDED DECEMBER 31, 1980 AND 1979
Administration
Personal service
$ 133,232
1980
$ 119,490
Contractual services
21,195
1979
19,289
Commodities
Budget
482
Actual
Central services
Actual
General government
37,560
Capital outlay
$ 193,527
$ 200,041
$ 177,914
Mayor and council
$ 119,680
$ 117,645
Personal services
$
14,300
$
14,398
$
14,300
Contractual services
200
370
146
Commodities
200
5
Central services
9,240
9,240
11,820
$ 23,940
$ 24,008
$ 26,271
Planning
Personal services
$
65,283
$
67,298
$
63,779
Contractual services
985
599
999
Commodities
750
4,044
330
Central services
21,600.
21,600
21,600
$
88,618
$
93,541
$
8.6,708
Administration
Personal service
$ 133,232
$ 137,967
$ 119,490
Contractual services
21,195
23,192
19,289
Commodities
700
482
1,575
Central services
38,400
38,400
37,560
Capital outlay
$ 193,527
$ 200,041
$ 177,914
Finance
Personal services
$ 90,707
$ 90,701
$ 97,687
Contractual services
20,431
20,893
19,756
Commodities
200
139
449
Central services
24,960
24,960
28,920
Capital outlay
$ .136,298
$ 136,693
$ 146,363
Election
Personal services.
$ 26,576
$ 26,528
$ 4,394
Contractual services
10,645
10,872
1,456
Commodities
2,120
4,064
449
Central services
4,560
4,560
4,080
Capital outlay
$ 43,901
$ 46,024
$ 10,379
Assessing
Personal services
$ 87,370
$ 86,961
$ 83,384
Contractual services
3,400
3,391
4,700
Commodities
1,300
708
251
Central services
28,620
28,620
28,500
Capital outlay
300
810
$ 120,990
$ 119,680
$ 117,645
27
CITY OF EDINA, MINNESOTA
GENERAL FUND
STATEMENT OF EXPENDITURES (CONTINUED)
YEARS ENDED DECEMBER 31, 1980 AND 1979
Fire protection
Personal services
1980
$ 679,683
$ 624,512
1979
28,108
Budget
Actual
Commodities
Actual
General government (continued)
19,783
Central services
217,260
217,260
Legal and Court Services
Capital outlay
33,620
33,619
13,752
Personal services
$ 25,000
$ 28,726
$
27,$03
Contractual services
100,500
106,136
77,3.07
6,191
$ 125,500
$ 134,862
$
105,110
Total general government
$ 732,774
$ 754,849
$
670,390
Public safety
Personal services
$.
54,527
Police protection
51,855
$
56,040
Contractual services
Personal services
$1,137,864
$1,099,436
$1,046,250
Contractual services
46,774
42,660
2,598
26,691.
Commodities
14,625_
12,913
Central services
10,066
Central services
396,120
396,120
362,040
Capital outlay
73,016
72,900
37,716
$1,668,399
$1,624,029
$1,482,763
176,970
Fire protection
Personal services
$ 679,970
$ 679,683
$ 624,512
Contractual services
28,108
28,464
26,573
Commodities
18,360
19,868
19,783
Central services
217,260
217,260
206,760
Capital outlay
33,620
33,619
13,752
81
$ 977,318 `.
,$ 978,894
$ 891,380
Civil defense
Personal services
$
469
$
371
$
610
Contractual services
1,900
1,871
2,524
Commodities
400
396
81
Capital outlay
3,422
7,066
$
6,191
$
9,704
$
3,215.
Public health
Personal services
$.
54,527
$
51,855
$
56,040
Contractual services
96,485
95,828
87,236
Commodities
2,598
2,480
1,805.
Central services
22,860
22,860
21,720
Capital outlay
500
311
282
$
176,970
$
173,334
$
167,083
28
CITY OF EDINA, MINNESOTA
GENERAL FUND
STATEMENT OF EXPENDITURES (CONTINUED)
YEARS ENDED DECEMBER 31, 1980 AND 1979
Inspections
Personal services
1980
$ 88,733
1979
75,848 .
Budget
Actual
Actual
Public safety (continued)
464
Commodities
1,630
Animal control
49,620
932
Central services
Personal services
$ 13,050
$ 12,410
$ 10,877
Contractual services
3,550
2,754
2,592
Commodities
500
445
370
Central services
6,600
6,600
5,520
$ 23,700
$ 22,209
$ 19,359
Inspections
Personal services
$ 88,734
$ 88,733
$
75,848 .
Contractual services
1,805
5,214
Commodities
464
Commodities
1,630
1,523
49,620
932
Central services
25,860
25,860
543
26,340
$ 118,029-
$ 121,3.30
$
103,584
Total public safety
$2,970,607
$2,929 ;500
$2,667,384
Public works
Administration
Personal services
$ 41,456
$ 41,351
$
35,925
Contractual services
75
52
222
Commodities
50
42
86
Central services
13,440
13,440
11,580
$ 55,021
$ 54,885
$
47,813
Engineering
Personal services
$ 164,886
$ 167,217
$ .161,228
Contractual services
5,160
4,518
6,011
Commodities
7,500
8,779
7,543
Central services
49,620
49,620
4.8,360
Capital outlay
2,100
543
10,531
$ 229,266
$ 230,677
$ 233,673
Supervision and overhead
Personal services
$ 125,723
$ 124,784
$ 112,178
Contractual services
500
179
508
Commodities
650
325
219
Central services
145,680
145,680
152,520
$ 272,553
$ 270,968
$ 265,425
29
CITY OF EDINA, MINNESOTA
GENERAL FUND
STATEMENT OF EXPENDITURES (CONTINUED)
YEARS ENDED DECEMBER 31, 1980 AND 1979
Street lighting
Personal services
1980
$ 9,012
1979
Contractual services
Budget
Actual
Actual
Public works (continued)
8,910
8,390
8,663
Street maintenance
2,400
2,400
1,800
Personal services
$ 213,255
$ 212,753
$ 212,188
Contractual services
28,750
27,207
39,823
Commodities
158,850
157,357
127,719
Central services
154,920
154,920
129,720
Capital outlay
46,385
$ 555,775
$ 552,237
$ 555,835
Street lighting
Personal services
$ 9,200
$ 9,012
$ 9,547
Contractual services
175,700
175,535
161,556
Commodities
8,910
8,390
8,663
Central services
2,400
2,400
1,800
$ 196,210
$ 195,337
$ 181,566
Street name signs
Personal services $ 7,670 $ 7,542 $ 2,950
Commodities 5,200 5,166 1,448
Central services 5,040 5,040 4,200
$ 17,910 $ 17,748 $ 8,598
Traffic control
Personal services
$ 21,900
$ 19,878
$ 14,402
Contractual services
27,600
27,221
24,428
Commodities
19,700
17,231
12,050
Central services
9,600
9,600
7,980
$ 78,800.
$ 73,930
$ 58,860
Bridges
Personal services $ 1,760 $ 1,282 $ 1,341
Commodities 1,350 1,112 281
Central services 2,400 2,400 1,800
$ 5,510 $ 4.,794 $ 3,422
Storm drainage
Personal services
$ 42,140
$ 39,980
$ 26,494
Contractual services
6,400
6,379
10,460
Commodities
12,980
11,934
13,738
Central services
9,600
9,600
7,980
$ 71,120
$ 67,893
$ 58,672
30
CITY OF EDINA, MINNESOTA
GENERAL FUND
STATEMENT OF EXPENDITURES (CONTINUED)
YEARS ENDED DECEMBER 31, 1980 AND 1979
Sidewalks and ramp
Personal services
1980
17,240
1979
8,012
Budget
Actual
Actual .
Public works (continued)
21,644
14,575
City properties
21,036
Commodities
2,588
Personal services
$ 69,790
$ 69,498
$ 51,595
Contractual services
43,950
43,258
36,254
Commodities
8,110
7,066
13,381
Central services
13,800
13,800
12,300
31,560
$ 135,650
$ 1.33,622
$ 113,530
Sidewalks and ramp
Personal services
$
17,240
$
8,012
$
6,709
Contractual services
21,644
14,575
South Hennepin Human Services Council
21,036
Commodities
2,588
11,100
2,400
5,973
21,930
6,563
Central services
3,000
City's share of special assessments
3,000
2,520
$
52,984
$
31,560
$
36,828
Capital outlay
$
99,500.
$
99,038
.7,879
Total public works
$1,770,299
$1,732,689
$1,564,222
Contingencies
Unallocated general expense
Human rights commission
$ 32,250
$
19,247
$
22,644
Historical Preservation Board
5,600
5,564
1,065
South Hennepin Human Services Council
2,588
2,588
2,400
Central services - Capital outlay
21,930
21,887
27,308
City's share of special assessments
68,500
68,920
77,194
Dutch elm subsidy
43,000
42,260
40,740
Recycling
9,800
9,476
.7,879
Fireworks
2,500
2,500
2,042
Contingencies
80,000
79,238
40,888
$ 266,168
$
251,680
$
222,160
Central services
$( 13,100)
$( 108,038)
$
68,581
Total expenditures
$5,726,748
$5,560,680
$5,192,737
Other uses
Reserve for commitments
General government
$ 14,000
$
14,000
Public works
50,000
50,000
$
50,000
Fire
56,380
56,380
15,000
Capital improvement
50,000
50,000
50,000
Animal control
2,000
2,000
2,000
$ 172,380
$
172,380
$
117,000
CITY OF EDINA, MINNESOTA
GENERAL FUND
STATEMENT OF EXPENDITURES (CONTINUED)
YEARS ENDED DECEMBER 31, 1980 AND 1979
Other uses (continued)
Transfers to other funds
Swimming Pool -
Recreation Center
Municipal State -aid Street
Bond Fund
Total other uses
Total expenditures and
other uses
1980
Budget Actual
1979
Actual
$ 7,500 $ 7,500 $ 7,500.
7,500 7,500 7,500`
424
$ 15,000 $ 15,000 $ 15,424
$ 187,380 $ 187,380 $ 132,424
$5,914,128 $5.748,060 5 5325.161
31.
32
CITY OF EDINA, MINNESOTA
GENERAL FUND
SCHEDULE OF CENTRAL SERVICES EXPENDITURES
YEARS ENDED DECEMBER 31, 1980 AND 1979
1980 1979
Budget Actual Actual
General
Contractual. services $1,044,160 $ 892,398 $1,047,803
Commodities 18,200 16,219 13,226
$1,062,360 $ 908,617 $1,061,029
City hall
Personal services
$ 34,100
$ 34,019
$
32,494
Contractual services
22,248
24,657
Commodities
17,699
Commodities.
11,632
11,900
75,240
10,926
Fixed charges
4,320
4,320
$ 575,815
4,980
Total Central Services expenditures
$ 72,300
$ 74,896
$
662099
Public works building
1,738,500
1,638,480
Net Central Services
( 13,100)
Personal services
$ 17,790
$ 17,433
$
21,212
Contractual services
41,950
42,519
40,910
Commodities
5,300
7,762
14,392
Fixed charges
3,420
3,420
3,720
$ 68,460
$ 71,134
$
80,234
Equipment operations
Personal services
$ 149,140
$ 149,090
$ 131,840
Contractual services
50,500
50,420
56,269
Commodities
247,400
301,065
241,029
Fixed charges
75,240
75,240
70,561
$ 522,280
$ 575,815
$ 499,699
Total Central Services expenditures
$1,725,400
$1,630,462
$1,707,061
Less allocation to other activities
1,738,500
1,738,500
1,638,480
Net Central Services
( 13,100)
$( 108_,038)
$ 68,581
CITY OF EDINA, MINNESOTA
SPECIAL REVENUE FUNDS
DECEMBER 31, 1980
(With comparative totals for December 31, 1979)
ASSETS
Cash
Investments
Receivables
Accounts receivable
Due from other
governmental units
Unremitted taxes
receivable
Delinquent taxes
receivable
Allowance for delinquent
taxes
Due from other funds
Total assets
LIABILITIES AND
FUND EQUITY
Liabilities
Accounts payable
Accrued payroll
Contracts payable
Due to other funds
Deposits
Total liabilities
Fund equity
Reserve for park
acquisition and
improvement
Fund balance (deficit)
Appropriated
Unappropriated
Total fund balance
(deficit)
Total fund equity
Total liabilities and
fund equity
Revenue Nursing Totals
Sharing . Services Park 1980 1979
$122,486 $ 34,763
$ 62,041
$219,290
$689,252
163,318
163,319
326,637
$225,000
117,280
1,315
1,315
2,376
56,476
54,594
111,070
56,074
$342,280
4,159
4,159
3,270
6,582
6,582
10,683
( 6,582)
( 6,582)
(10,683)
11,994
11,994
43,521
5342280 J-14.,763
297 422
$674,465
$794,493
$ 9,951 $ 9,951 $ 6,661
26,341 26,341 13,837
22,500 22,500
165,761 165,761 18,874
8,643 8,643
$233,196 $233,196 $ 39,372
5342,280 S 34,763 $ 297,422 $674,465 $794,493
33
$224,282
$224,282
$390,586
$225,000
$225,000
$225,000
117,280
$ 34,763 $(160,056)
8,013)
139,535
$342,280
$ 34,763 $(160,056)
$216,987
$364,535
$342,280
34,763 $ 64,226
$441,269
$755,121
5342,280 S 34,763 $ 297,422 $674,465 $794,493
33
WA
CITY OF EDINA, MINNESOTA
SPECIAL REVENUE FUNDS
COMBINING STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE
YEAR ENDED DECEMBER 31, 1980
(With comparative totals for year ended December 31, 1979)
Revenue Nursing
Sharing Services
Revenue
Taxes
Intergovernmental revenue
Federal grant -
Federal revenue
4,995
sharing
$223,171
State grants
Homestead credit
14,776
State'aid - Trees
30,629
Charges for services
41,717
Miscellaneous revenue
Interest
15,853
Other
128,603
Parkland dedication
128,603
Total revenue
$239,024
Other sources - Transfers
$
from other funds
_
Total revenue and
230,000
other sources
$239,024
Expenditures
231,775
Current expenditures
$ 595
Capital outlay
_
Total expenditures
$ 595
Other uses - Transfers to
$
other funds
225,000
Total expenditures
161,928
and other uses
$225,595
Net increase (decrease) in
17,266
fund balance
$ 13,429
(Increase) decrease in
$
deposits
274,300
(Increase) decrease in
499,300
reserve for park
225,967
Totals
Park 1980 1979
$ 368,591 $ 368,591 $ 356,731
223,171 222,964
87,959
87,959
44,850
4,995
73,372
73,372
64,210
14,776
30,629
41,717
5,296
5,296
1,482
128,603
128,603
128,392
$ 678,597
$
917,621
$
865,341
230,000
230,000
231,775
$ 908,597.
$1,147,621
$1,097,116
$ 788,631
$
789,226
.$
724,425
161,928
161,928
17,266
$ 950,559
$
951,154
$
741,691
274,300
499,300
225,967
$1,224,859 $1,450,454 $ 967,658
$( 316,262) $( 302,833) $ 129,458
( 11,019) ( 11,019) 4,872
acquisition and improvement 166,304 166,304 ( 128,392)
Fund balance January 1 328,851 $ 34,763 921 364,535 358,597
Fund balance (deficit)
December 31 $342.280 $ 34.763 V 160.056) S 216.987 S 364.535
CITY OF EDINA, MINNESOTA
REVENUE SHARING FUND
STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE
YEARS ENDED DECEMBER 31, 1980 AND 1979
1980
Budget Actual
Revenue
Federal revenue sharing grant $2233,171
Interest on investments 15,853
Total revenue $225,000 $239,024
Expenditures
Contractual services $ 595
Other uses - Transfer to General Fund $225,000 225,000
Total expenditures and other uses $225,000 $225,595
Net increase in fund balance _0- $ 13,429
Fund balance January 1 328,851
Fund balance December 31 342 280
NURSING SERVICES FUND
STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE
YEARS ENDED DECEMBER 31, 1980 AND 1979
Net increase in fund balance
Fund balance January 1
Fund balance December 31
i11M.He
Budget Actual
S -0- $ -0-
34,763
S 34.763
1979
Actual. -
$222,964
23,025
$245,989
$225,000
$225,000
$ 20,989
307,862
$328,851
1979
Actual
$ -0-
34,763
34.70
35
36
CITY OF EDINA, MINNESOTA
PARK FUND
STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE
YEARS ENDED DECEMBER 31, 1980 AND 1979
1980
1979
Budget
Actual
Actual
Revenue
General property taxes
$
364,174
$
368,591
$
356,731
State grants
Homestead credit
87,959
87,959
44,850
State aid - Trees
4,995
Registration fees
29,000
73,372
64,210
Interest on investments
3,000
14,776
18,692
Parkland dedication
128,603
128,392
Sale of property
1,849
Other revenues
1,000
3,447
1,482
Total revenue
$
485,133
$
678,597
$
619,352
Other sources - Transfer from
Liquor Fund
230,000
230,000
231,775
Total revenue and other
sources $
715,133
$ 908,597
851,127
Expenditures
Administration
Personal services
$
102,765
$
115,546
$
99,460
Contractual services
2,450
3,467
3,995
Commodities
500
649
305
Central services
147,360
147,360
159,300
Training
500
1,296
1,283
Paid leave
35,100
36,165
36,120
Total administration
$
288,675
$
304,483
$
300,463
Recreation
Ice skating
$
22,540
$
26,564
Baseball and softball
$
5,200
8,425
8,576
Skating and hockey
20,100
23,822
19,663
Tennis instruction
5,500
3,915
4,846
Playgrounds
10,800.
10,702
10,102
Swimming instruction
23,700
20,210
22,604
Senior citizens
7,900
22077
2,232
Miscellaneous and special
activities
14,100
19,126
16,177
Other
11,879
14,503
Total recreation
$
87,300
$
122,696
$
125,267
Maintenance
Mowing
$
31,838
$
32,178
$
31,577
Special turf care
68,000
79,993
56,495
Plantings and trees
26,200
25,197
26,709
Litter removal
15,180
33,666
19,001
Parking areas
10,420
15,629
7,588
Buildings and equipment
84,780
105,379
88,490
Skating rinks
80,740
69,410
68,835
Total maintenance
$
317,158
$
361,452
$
298,695
37
CITY OF EDINA, MINNESOTA
PARK FUND
STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE (CONTINUED)
YEARS ENDED DECEMBER 31, 1980 AND 1979
1980
1979
Budget.
Actual
Actual
Expenditures (continued)
Capital outlay
Equipment
$
22,000
$
22,573
$
17,266
Park construction
139,355
$
22,000
$
161,928
$
17,266
Total expenditures
$
715,133
$
950,559
$
741,691
Other uses
Transfer to Park Construction Fund
274,300
Transfer to Art Center Fund
967
Total expenditures and
other uses
$
715,133
$1,224,859
$
742,658
Net increase (decrease) in fund balance
$ -0-
$(
316,262)
$
108,469
(Increase) decrease in deposits
(
11,019)
4,872
(Increase) decrease in reserve for
park acquisition and improvements
166,304
(
128,392)
Fund balance January 1
921
15,972
Fund balance (deficit) December 31
$( 160,056)
$ 921
38
CITY OF EDINA, MINNESOTA
GENERAL DEBT SERVICE FUNDS
COMBINING BALANCE SHEET
DECEMBER 31., 1980
(With comparative totals for December 31, 1979)
ASSETS
Cash
Investments
Taxes receivable
Unremitted
Delinquent
Deferred
Allowance for uncollectible taxes
Due from Edina Housing and
Redevelopment Authority
Total assets
LIABILITIES AND FUND EOUITY
Liability
Due to other funds
Fund equity
Reserve for park improvements
Fund balance
Appropriated
Total fund equity
Total liabilities and
fund equity
Redevelopment Park
Sinking Sinking
Totals
1980 1979
$323,096 $ 323,096 $ 630,202
163,319 163,319
2,381 2,381 2,815
7,070
250,000
( 19,570)
$2,233,550 2,233,550 2,283,550
$2,233,550 $488,796 $2,722,346 $3.154,067
$ . 47,038
$2,233,550 $488,796 $2,772,346 $3,154,067
$163,663
$ 163,663
$ 163,663
$2,233,550
325,133
2,558,683
2,943,366
$2,233,550
$488,796
$2,722,346
$3,107,029
$2,233,550 $488,796 $2,772,346 $3,154,067
CITY OF EDINA, MINNESOTA
GENERAL DEBT SERVICE FUNDS
COMBINING STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE
YEAR ENDED DECEMBER 31, 1980
(With comparative totals for year--ended December 31, 1979)
Revenue
Interest
Advances from HRA
Other sources
Adjustment of allowance for
uncollectible taxes
Total revenue and
other sources
Expenditures
Bond principal
Interest and service charges
Other uses
Transfer to Park Construction
Fund
Write -off uncollectible taxes
Total expenditures and
other uses
Net (decrease) in fund balance
Decrease in reserve for
land acquisition
Fund balance January 1,
as restated (See Note. 17)
Fund balance December 31
Redevelopment Park Totals
Sinking Sinking 1980 1979
$ 13,86.0 $ 13,860 $ 49,445
$ 128,391 128,391 128,250
14,122
$ 128,391 $ 13,860 $ 142,251 $ 191,817
$ 50,000 $ 300,000 $ 350,000 $ 350,000
128,391 16,870 145,261 160,341
$ 178,391 $ 316,870 $ 495,261 $ 510,341
.47,038
31,673 31,673
$ 178,391 $ 348,543 $ 526,934 $ 557,379
$( 50,000) $(334,683) $( 384,683) $( 365,562)
47,038
2,283,550 659,816 2,943,366 . 3,261,890
52,233,550 $ 325.133 $2,558,683 $2,943,366
39
40
CITY OF EDINA, MINNESOTA
CAPITAL PROJECTS FUND - PARK CONSTRUCTION
BALANCE SHEET
DECEMBER 31, 1980 AND 1979
Cash (deficit)
Accounts receivable
Due from other funds
Total assets
ASSETS
LIABILITIES AND FUND BALANCE
Liabilities
Accounts payable
Contracts payable
Accrued payroll
Due to other funds
Total liabilities
Fund balance (deficit)
Appropriated
Unappropriated
Total fund balance
Total liabilities and fund balance
1980 1979
$(509,061)
1,315
364,141
-0- $(143. -05)
$ 29,178
37,500
30
33.792
$ 100,500
$ 171,148
(415,253)
$(244,105)
-0- $(143.605)
.41
CITY OF EDINA,
MINNESOTA
CAPITAL PROJECTS FUNDS
- PARK CONSTRUCTION
STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE
YEARS ENDED DECEMBER
31, 1980 AND 1979
1980
1979
Revenue
Rents
$ 2,200
$ 2,900
Grant
54,594
$ 56,794
$ 2,900
Other sources
Transfers from other funds
Liquor Fund
80,000
80,000
Park Sinking Fund
47,038
Park Fund
274,300
Total revenue and other sources
$ 411,094
$ 129,938
Expenditures
Construction costs
$ 180,697
$ 244,480
Interest on property purchase
1,200
1,500
Other
92
2,404
Total expenditures
$ 181,989
248,384
Net increase (decrease) in fund balance.
$ 229,105
$(118,446)
Decrease (increase) in contracts payable
15,000
15,000
Fund balance (deficit) January 1
(244,105)
(140,659)
Fund balance (deficit) December 31
S -0-
$(244,105)
42
CITY OF EDINA, MINNESOTA
SPECIAL ASSESSMENT FUNDS
COMBINING BALANCE SHEET
DECEMBER 31, 1980
(With comparative totals for December 31, 1979)
Total assets $ 429,860
LIABILITIES AND FUND EQUITY
Liabilities
Due to other governmental units
Accrued interest on bonds
Contracts payable
Deposits payable
Loans from other funds
Due to other funds $ 6,943
Bonds payable
Total liabilities $ 6,943
Fund equity
Reserve for assessment adjustments
Fund balance
Appropriated
Unappropriated $ 422,917
Total fund equity $ 422,917
Total liabilities and fund equity $ 429,860
Permanent
Improvement
Revolving
ASSETS
Cash (deficit)
$ 217,493
Investments
Accounts receivable.
Due from other governmental units
Special assessments receivable
Unremitted
1,077
Delinquent
Deferred
11,884
City's share
Allowance for uncollectible receivables
( 594)
Loans to other funds
200,000
Due from other funds
Unallocated construction costs
Construction in progress
Current
Deferred
Total assets $ 429,860
LIABILITIES AND FUND EQUITY
Liabilities
Due to other governmental units
Accrued interest on bonds
Contracts payable
Deposits payable
Loans from other funds
Due to other funds $ 6,943
Bonds payable
Total liabilities $ 6,943
Fund equity
Reserve for assessment adjustments
Fund balance
Appropriated
Unappropriated $ 422,917
Total fund equity $ 422,917
Total liabilities and fund equity $ 429,860
Improvement Improvement
Bond Bond
Redemption I Redemption II
$ 1,595,381
481,575
27,289
5,257,619
211,754
( 262,881)
109,875
604,428
$ 8,025,040
$ 5,274
19,875
515,562
3.300.000
$ 3,840,711
$ 217,694
3,966,635
$ 4,184,329
$ 8,025,040
$ 191,800
8,573
2,999,516
( 149,976)
1,583,456
268,107
$ 4,901,4/6
$ 1,141
49,775
100,747
4.650.000
$ 4,801,663
$ ( 28,407)
128,220
$ 99,813
$ 4,901,476
Construction
$( 174,151)
256, 900
1,047,877
57,728
1,462,336
302,598
$ 2,953,288
$ 149,004
302,598
523,405
1,783,456
1 S4 - 208
$ 2,912,671
$ 40,617
$ 40,617
$ 2,953 288
Totals
$ 1,830,523
481,575
256,900
36,939
8,269,019
211,754
( 413,451)
1,783,456
1,425,859
662,156.
1,462,336
302,598
$16,309,664
$ 155,419
69,650
302,598
523,405
1,783,456
777,460
7,950,000
$11,561,988
$ 189,287
40,617
4,517,772
$ 4,747,676
$16, 30, 664
1979
$ 684,085
500,000
4,350
40,974
452,885
5,993,851
211,754
( 762,440)
3,651,709
141,673
165,102
5,141,790
275,222
$16,500,955
$ 5,616
56,942
275,222
785,883
3,651,709
59,612
7,350,000
$12,184,984
$ 230,755
40,617
4,044,599
$ 4,315,971
$16,500,955
43
44
CITY OF EDINA, MINNESOTA
SPECIAL ASSESSMENT FUNDS
COMBINING STAUM ENT OF REVENUE, EXPENDITURES AND FUND BALANCE
YEAR ENDED DECEMBER 31, 1980
(With comparative totals for year ended December 31, 1979)
Permanent
Improvement
Revolving
Revenue
Interest
Investments $ 3,010
Special assessments 727
Bonds issued
State aid
Reimbursements from other funds
Total revenue $ 3,737
Other sources
Bond proceeds
Adjustment of provision for uncollectible receivables
Capitalized interest
Assessment adjustments $ 6,698
Transfer from other funds
Adjustment of accrued interest on bonds
Total other sources $ 6,698
Total revenue and other sources $ 10,435
Expenditures
Interest
Paying agent service charges
Bond rating and investors services
Refund
Construction costs
Total expenditures
Other uses
Adjustment of provision for uncollectible receivables $ 816
Bonds issued
Total other uses $ 816
Total expenditures and other uses $ 816
Net increase (decrease) in fund balance $ 9,619
Increase (decrease) in construction in progress
Fund
balance
(deficit)
January 1
413,298
Fund
balance
December
31
$ 422,917
Improvement
Bond
Redemption I
$ 49,822
264,476
$ 314,298
$ 38,172
90,786
4,442
$ 133,400
$ 447,698
$ 200,897
489
$ 201,386
$ 201,386
$ 246,312
3,720,323
$ 3,966, 635
Improvement
Bond
Redemption II
$ 7,226
254,260
$ 1,400,000
307,407
$ 1,707,407
$ 1,968,893
$ 212,900
195
6,760
$ 219,855
$ 131,796
1,400,000
$ 1,531,796
$ 1,751,651
$ 217,242
( 89,022)
$ 128,220
Totals
Construction 1980 1979
$ 897,836
4,316,130
$ 5,213,966
$ 5,213,966
$ 1,813,830
$ 1,813,830
$ 1,813,830
$ 3,400,136
(3,400,136)
40,617
X40,617
$ 60,058
519,463
897,836
4,316,130
$ 5,793,487
$ 1,400,000
38,172
398,193
6,698
4,442
$ 1,847,505
$ 7,640,992
$ 413,797
684
6,760
1,813,830
$ 2,235,071
$ 132,612
1,400,000
$ 1,532,612
$ 3,767,683
$ 3,873,309
(3,400,136)
4,085,216
$ 4,558,389
$ 84,210
333,950
8,381
427,853
462,751
$ 1,317,145
$ 1,500,000
67,141
21,930
424
7,627
$ 1,597,122
$ 2,914,267
$ 399,148
1,132
2,014
692
2,862,052
$ 3,265,038
$ 21,432
1,500,000
$ 1,521,432
$ 4,786,470
$(1,872,203)
1,971,448
3,985,971
$ 4,085,216
45
46
CITY OF EDINA, MINNESOTA
ENTERPRISE FUNDS
COMBINING BALANCE SHEET
DECEMBER 31, 1980
(With comparative totals for December 31, 1979)
ASSETS
Current assets
Cash (deficit)
Restricted cash
Total cash
Petty cash and change funds
Investments
Receivables
Accounts receivable
Customers
Assessments
Due from other funds
Due from other governmental units
Prepaid expenses
Inventories
Total current assets
Property and equipment, less
accumulated depreciation
Other assets
Receivable - Metropolitan Waste
Control Commission
Notes receivable - Less $4,973 current
portion included with accounts receivable
Loans to other funds
Total other assets
Total assets
Sewer
Waterworks Rental Liquor
$ 457,299 $( 528,037) $( 30,065)
$ 457,299 $( 528,037) $( 30,065)
3,500
163,319
1,000 9,151
214,753 274,407
1,220
241,253
18,747
4,413 115,352 7,512
9,534 859,105
$1,090,571 $( 117,311) $ 849,203
$7,094,028 $8,464,195 $ 922.,651
$ 560,083
$ 54,707
$ .100,000 415,000
$ 100,000 $ 560,083 $ 469,707
$8,284.5.99 $8,906,962 $2,241,561
Swimming Golf Recreation Gun Art Totals
Pool Course Center Range Center 1980 1979
$(49,894) $( 143,991) $( 270,994) $(18,226) $(73,389) $( 657,297) $ 121,732
51,650
$(49,894) $( 143,991) $( 270,994) $(18,226) $(73,389) $( 657,297) $ 173,382
400 700 75 4,675 4,675
12,728.' 176,047 31,761
677 20,410 31,238 40,350
489,160 343,776
1,220 1,284
20,713 255 262,221 272,228
4,035 3,350 26,132 62,588
127,277. 120,175
1,297 206 250 4,770 875,162 625,104
$(49,894) $( 128,889) $( 224,930) $(14,371) $ 6( 8,544) $ 1,335,835 $ 1,675,323
$328,869 $1,357,306 $1,089,469 $ 64,839 $178,194 $19,499,551 $19,418,584
$ 300,000
$ 300,000
$278,975 $1,228,417 $1,164,539 $ 50,468 $109,650
$ 560,083
54,707
815.000
$ 1,429,790
$22,265,176
$ 597,214
59,680
815,000
$ 1,471,894
$22,565,801
47
48
CITY OF EDINA, MINNESOTA
ENTERPRISE FUNDS
COMBINING BALANCE SHEET (CONTINUED)
DECEMBER 31, 1980
(With comparative totals for December 31, 1979)
LIABILITIES, RESERVE AND RETAINED EARNINGS
Current liabilities
Accounts payable
Accrued payroll
Due to other funds.
Due to other governmental units
Bonds payable
Accrued interest
Total current liabilities
Other liabilities
Long -term liability - Bonds payable, less
current portion above
Deferred revenue
Deposits
Loan from other funds
Total other liabilities
Reserve for debt retirement
Retained earnings
Invested in property and equipment
Contributed
Unreserved
Total retained earnings
Total liabilities, reserve and
retained earnings
Sewer
Waterworks Rental
$ 12,752 $ 7,043
6,473 3,958
48,848 52,753
4,977_
Liquor
$ 105,631
19,844
13,786
28,422
$ 73,050 $ 63,754 $ 167,683
$ 560,083
$1,246,491 $ 115,788 $ 922,651
5,847,537 8,348,407
1,117,521 ( 181,065) 1,151,227
$8,211,549 $8,283,130 $2,073,878
$8,284,599 $8,906,967 $2,241,561
49
Swimming Golf
Pool Course
Recreation Gun Art
Center Range Center
Totals
1980 1979
$ 1,350 $ 6,662
$ 42,016 $
465 $ . 319 $ 176,238
$ 177,350
3,622
6,943
327 718 41,885
32,560
18,512
2,866
136,765
427,782
14,314,824
14,127,258
33,399
( 160,219)
40,000
105,000
145,000
195,000
1,802,760
933
933
4,701
$ 1,350 $ 68,796
$ 157,758 $
792 $ 1,037 $ 534,220
$ 837,393
$ 290,000 $ 295,000
2,534
545,000 470,000
$ 837,534 $ 765,000
$ 52,300
$ 585,000 $ 730,000
560,083 597,214
2,534 900
1,015,000 1,015,000
$ 2,162,617 $ 2,343,114
$ 52,300 $ 103,950
$328,341
$ 452,789
$ 203,817
$ 18,863
$150,987
$ 3,439,727
$ 3,351,326
528
29,517
15,652
45,976
27,207
14,314,824
14,127,258
(51,244)
( 160,219)
15 163)
6( 9,581)
1,761,488
1,802,760
$277,625
$ 322,087
_29,988)
$ 189,481
$ 49,676
$108,613
$19,516,039
$19,281,344
5278,975 $1,228,417 $1,164,539 $ 50,468 $109,650 $22,265J76 $22,565,801
50
CITY OF EDINA, MINNESOTA
ENTERPRISE FUNDS
COMBINING STATEMENT OF REVENUE, EXPENSES AND RETAINED EARNINGS
YEAR ENDED DECEMBER 31, 1980
(With comparative totals for year ended December 31, 1979)
Sewer
Waterworks Rental Liquor
Sales and cost of sales
Sales
Cost of sales
Gross profit
Operating revenue
Charges for services
Total gross profit and
operating revenues
Operating expenses
Operating income (loss)
Other revenue
Interest
Discounts
Prior year's disposal charges
Current value credit - MWCC
Rental income
Deferred charges
Donations
Other
Other expense
Interest and paying agent fees
Other
Net income (loss)
Transfers from (to) other funds
Property and equipment contributed
by special assessments
Decrease in reserves
Retained earnings January 1
Retained earnings December 31
$5,791,832
4,868,033
$ 923,799
$ 778,195 $1,388,669
$ 778,195 $1,388,669 $ 923,799
853,464 1,688,256 570,855
$( 75,269) $( 299,587) $ 352,944
$ 29,987 $ 7,747
86,015
$ 18,.747
61,020
4,776
6,659
1,666
$ 29,987. $ 91,202 $ 95,428
$ 1,539
$ 253
$ 1,539 $ 253
$( 46,821) $( 208,385) $ 448,119
( 400,000)
71,051 337,008
51,650
8,135,669 8,154,507 2,025,759
$8,211,549 $8,283,130 $2,073,878
51
Swimming
Golf
Recreation
Gun
Art
Totals
Pool
Course
Center
Range
Center
1980
1979
$
5,791,832
$ 5,209,247
4,868,033
4,433,815
$
923,799
$ 775,432
59,109
$
490,952
$ 234,979
$ 18,025
$ 50,677
3,020,606
2.,470,831
$ 59,109
$
490,952
$ 234,979
$ 18,025
$ 50,677
$
3,944,405
$ 3,246,263
77,279
400,753
340,404
17,753
67,579
4,016,343
3,615,523
$(18,170)
$
90,199
$( 105,425)
$ 272
$(16,902)
$( 71,938)
$( 3692260)
$
37,734
$ 53,874
86,015
74,735
18,747
59,588.
61,020
61,020
4,776
4,776
6,659
6,441
$ 1,730
1,730
1,560
2,346
4,012
3,210
4,076
$
220,693
$ 265,204
$
25,765
$ 7,010
$
34,314
$ 46,375
253
6,888
$ 25,765
$ 7,010
$
34,567
$ 53,263
$(18,170)
$
64,434
$( 112,435)
$ 272
$(12,826)
$
114,188
$( 157,319)
7,978
29,517
17,152
976
5,175
( 339,202)
( 359,033)
-
408,059
213,061
51,650
1,650
287,817
228,136
284,764
48,428
116,264
19,281,344
19,582,985
1277,625 $ 322,087 189,481 1 49,6 76 $108,613 $19.516,039 $19,281,344
52
CITY OF EDINA, MINNESOTA
ENTERPRISE FUNDS
COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION
YEAR ENDED DECEMBER 31, 1980
(With comparative totals for year ended December 31, 1979)
Funds provided
Operations
Net income (loss)
Item not requiring current outlay of funds
Depreciation
Contributions in aid to construction
Disposal of property and equipment
Transfers from other funds
Deposits
Decrease in notes receivable
Funds applied
Additions to property and equipment
Current installment on long —term debt
Transfers to other funds
Increase in reserves and deposits
Net increase (decrease) in working capital
Various elements of net change in
working capital
Cash
Investments
Receivables
Due from other funds
Due from other governmental units
Prepaid expenses
Inventories
Accounts payable
Accrued liabilities
Due to other funds
Due to other governmental units
Bonds payable
Net increase (decrease) in working capital
Sewer
Waterworks Rental L_ iquor
$( 46,821) $(208,385) $ 448,119
268,847 113,274 45,962
$ 222,026. $( 95,111) $ 494,081
71,051 337,008
4.973
$ 293,077 $__241,897 $ 499,054
$ 81,954 $ 347,290 $ 12,715
400,000
$ 81,954 $347,290 412,715
$ 211.123 $(105.393) L-36
,339
$( 42,739)
144,286
856
60,340
( 622)
955
3,349
( 1,128)
803
( 4,977)
50,000
$ 211,123
$(112,077) $(160,665)
84,980
(
40,841)
19,854
( 3,721)
( 835)
( 52,753)
1,915
( 28,422)
( 12,130)
251,240
17,273
( 4,388)
21,516
$(105,393) $ 86.339
53
Swimming Golf
Pool Course
Recreation
Gun Art
Range Center
Totals
1980. 1979
$(18,170) $ 64,434 $(112,435) $. 272 $(12,826) $ 114,188 $ ( 157,319)
742
19,777
2,812
156
1,290
452,860
426,835
$(17,428)
$
- 84,211
$(109,623)
$ 428
$(11,536)
$ 567,048
$
269,516
408,059
213,061
823
823
170
7,978
29,517
17,152
976
5,1.75
60,798
15,967
1,634
1,634
4,973
4,974
9,450)
$
116,185
$( 92,471)
1,404
$ ( 6,361)
$1,043,335
$
503,688
$ 478
$
57,420
$ 26,785
$ 976
$ 7,032
$ 534,650
$
728,819
40,000
105,000
145,000
195,000
400,000
375,000
1,121
478
$
97,420
$ 131,785
$ 976
$ 7,032
$1,079,650
$1,299,940
928)
$ 18,765
X224,256)
$ 428
13 393)
$( 36,315)
V396,252)
$( 8,804) $(231,687) $(226,852) $( 4,774) $(43,081) $( 830,679) $( 522,494) .
144,286
677 ( 11,704) 350 77,074 84,372
( 9,738) ( 85) (.1,040) 49,477 ( 109,515)
4,035 ( 65,228)
7,102 . 10,818
( 1,253) ( 107) ( 777) 250,058 ( 58,129)
( 1,124) 1,787 ( 23,783) 861 6,470 1,112 35,154
( 586) 1,680 ( 32) ( 268) ( 5,557) ( 52,882)
249,827 42,213 4,108 25,303 291,017 ( 133,576)
( 4,977)
50,000 ( 50,000)
IC-2.,928) $ 18,765 ,$(224,256) $ 428 1112 393) $( 36,315) $( 796,252)
54
CITY OF EDINA, MINNESOTA
ENTERPRISE FUNDS
SCHEDULE OF PROPERTY AND EQUIPMENT
YEAR ENDED DECEMBER 31, 1980
Assets
Balance Balance
January 1 Additions Disposals December 31
Waterworks Fund
Land
$ 26,556
$ 180
$ 26,556
Land improvements
27,316
$ 776
28,092
Buildings and
10,019,428
337,008
10,356,436
equipment
2,574,955
10,127
2,585,082
Distribution system
8,634,814
71,051
8,705,865
Vehicles
X$11,263,641
$ 81,954
$11,345,595
Sewer Rental Fund
Land improvements
$ 6,629
$ 180
$ 6,809
Sewer mains and
21,085
$ 279
21,364
lift stations
10,019,428
337,008
10,356,436
Furniture and
fixtures
2,454
9,265
2,454
Vehicles
19,394
6,063
25,457
Equipment and
3,171
3,171
machinery
92,653
4,039
96,692
510,140,558
$ 347 „290
$10,487,848
Liquor Fund
Land
$. 233,785
$ 233,785
Land improvements
21,085
$ 279
21,364
Building
658,333
658,333
Furniture and
fixtures
276,686
9,265
285,951
Construction in
progress
3,171
3,171
$ 1,189,889
$ .12,715
5 1,2.02,604
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 1,000 $ 478 1,478
$ 333,055 $ 478 $ 333,533
55
Addumulated Depreciation
Net
Balance
Balance
Book
January 1
Additions Disposals
December 31
Value
$
26,556
$ 14,438
$
1,022
$ 15,460
12,632
1,610,762
94,406
1,705,168
879,914
2,357,520
173,419
2,530,939
6,174,926
$ 3,982,720
$
268,847
$ 4,251,567
$ 7,094,028
$ 3,811
$
369
$ 4,180
$
2,629
1,844,889
103,565
1,948,454
8,407,982
2,235
29
2,264
190
12,959
2,330
15,289
10,168
46,485
6,981
53,466
43,226
$ 1,910,379
$
113,274
$ 2,023,653
$
8,464,195
$
233,785
$ 3,865
$
832
$ 4,697
16,667
123,711
22,479
146,190
512,143
106,415
22,651
129,066
156,885
3,171
$ 233,991
$
45,962
$ 279,953
$ 922,651
$
10,000
288,048
28,006
$ 3,922
$
742
$ 4,664
1,337
1,478
$ 3,922
$
742
$ 4,664
$
328,869
56
CITY OF EDINA, MINNESOTA
ENTERPRISE FUNDS
SCHEDULE OF PROPERTY AND EQUIPMENT (CONTINUED)
YEAR ENDED DECEMBER 31, 1980
Assets
Balance Balance
January 1 Additions Disposals December 31
Golf Course Fund
Golf course.
$ 726,414
$
726,414
Buildings
204,781
204,781
Well
15,018
15,018
Parking lot and
roadway
9,627
9,627
Equipment
195,523
$ 23,167
$
3,151
215,539
Construction in
progress
298,065
34,253
332,318
$ 1,449,428
$ 57,420
$
3,151
$ 1,503,697
Recreation Center Fund
Land improvements
$ 52,174
$
52,174
Buildings
885,191
885,191
Furniture and
equipment
62,993
62,993
Construction in
progress
115,300
$ 26,785
147,085
$ 1,115,658
$ 26,785
$ 1,142,443.
Gun Range Fund
Land improvements
$ 12,182
$ 4,108
$
16,290
Building
47,532
47,532
Furniture and
equipment
863
976
1,839
Construction in
progress
4,108
$
4,.108.
$ 64,685
$ 5,084
$
4,108
$
65,661
Art Center Fund
Land
$ 15,000
$
15,000
Land improvements
1,788
$ 149
1,937
Building
110,758
110,758
Office furniture
and equipment
5,907
5,907
Machinery and
equipment
6,997
$
125
6,872
Construction in
progress
34,868
6,883
41,751
$ 175,318
$ 7,032
$
125
$
182,225
$25732,232
$ 538,758
$ 7,384
S264263,606
57
Accumulated Depreciation
Net
Balance
Balance
Book
January 1
Additions
Disposals
December 31
Value
$
726,414
204,781
15,018
9,627
$ 128,942
$
19,777
$ 2,328
$
146,391
69,148
332,318
$ 128,942
19,777
$ 2,328
$ 146,391
$
1,357,306
$
52,174
885,191
$ 50,162
$
2,812
$
52,974
10,019
142,085
$ 50,162
$
2,812
$
52,974
$
1,089,469
$
16,290
47,532
$ 666
$
156
$
822
1,017
$
156
$
64,839
$
822
$ 666
$
15,000
1,937
110,758
$ 1,288
$
591
$
1,879
4,028
1,578
699
$ 125
2,152
4,720
41,751
Si 2,866
$
1,290
$ 125
$
4,031
$ 178,194
$ 6,313,648
$ 452,860
$ 2,453
$ 6,764,055
$19.499.551
58
CITY OF EDINA, MINNESOTA
WATERWORKS FUND
BALANCE SHEET
DECEMBER 31, 1980 AND 1979
1980 1979
ASSETS
Current assets
Cash $ 457,299 $ 448,388
Restricted cash 51,650
Total cash $ 457,299 $ 500,038
Investments 163,319 19,033
Customers accounts receivable 214,753 154,413
Due from other funds 241,253 240,397
Prepaid expenses 4,413 5,035
Inventories 9,534 8,579
Total current assets $1,090,571 $ 927,495
Property and equipment, less accumulated depreciation. $7,094,028 $7,280,921
Other assets
Loan to other funds $ 100,000 $ 100,000
Total assets ,$8,284,599 $8,308,416
LIABILITIES. RESERVES AND RETAINED EARNINGS
Current liabilities
Accounts. payable $ 12,752 $ 16,101
Due to other governmental. units 4,977
Accrued payroll 6,473 5,207
Due to other funds 48,848 49,651
Bonds payable 50,000
Accrued interest 138
Total current liabilities $ 73,050 $ 121,097
Reserve for debt retirement $ 51,650
Retained earnings
Invested in property and equipment $1,246,491 $1,291,711
Contributed 5,847,537 5,939,210
Unreserved 1,,117,521 904,748
Total retained earnings $8,211,549 $8,135,669
Total liabilities, reserves and
. retained earnings $8,284,599 58.308,416
59
CITY OF EDINA. MINNESOTA
WATERWORKS FUND
STATEMENT OF REVENUE, EXPENSES AND RETAINED EARNINGS
YEARS ENDED DECEMBER 31, 1980 AND 1979
1980
1979
Operating revenue
Water charges
$ 756,650
$ 521,821
Sale of meters (less cost of meters sold)
3,857
3,768
Hydrant rental
16,535
15,697
Permits
1,446
1,040
Other
( 293)
2,270
Total operating revenue
778,195
$ 544,596
Operating expenses
Source of.supply
Personal services
$ 31,724
$ 22,869
Other services and charges
185,455
153,903
Supplies
18,975
16,923
Distribution
Personal services
69,786
7.7,445
Other services and charges
57,084_
82,789
Supplies
71,304
64,684
Purification
Personal services
5,569
4,659
Other services.and charges
8,762
Supplies
1,537
18,715
General and administrative
Personal services
58,027
61,186
Other services and charges
75,476
73,219
Supplies
918
.411
Depreciation
268,847
253,968
Total operating expenses
$ 8532464
$ 830,771
Operating loss
$( 752269)
$( 286,175)
Other revenue (expense)
Interest on investments
$ 29,987
$ 35,068
Interest and paying agent fees
( 1,539)
( 3,190)
Total other revenue
$ 28,448
$ 31,878
Net loss
$( 46,821)
$( 254,297)
Property and equipment contributed by
special assessments
71,051
121,885
Reduction in reserve for debt retirement
51,650
1,650
Retained earnings January 1
8,135,669
8,266,431
Retained earnings December 31
$8,211,549
,$8,135x669
N.
CITY OF EDINA, MINNESOTA
WATERWORKS FUND
STATEMENT OF CHANGES IN FINANCIAL POSITION
YEARS ENDED DECEMBER 31. 1980 AND 1979
1980 1979
Funds provided
Operations
Net loss $( 46,821) $(254,297)
Item not requiring current outlay of funds
Depreciation 268,847 253,968
$ 2222026 $( 329)
Contributions in aid to construction 71,051 121,885
$ 293,077 $..121,556
Funds applied
Additions to property and equipment $ 81,954 $ 127,290
Current installment of long -term debt 50,000
$ 81,954 $ 177,290
Net increase (decrease) in working capital $ 211.123 S( 55,734)
Various elements of net change in working capital
Cash
$
8,911.
$(157,717)
Restricted cash
(
51;650)
( 1,650)
Investments
1442286
Receivables
856
11,341
Due from other funds
60,340
14,897
Prepaid expenses
(
622)
595
Inventories
955
( 906)
Accounts payable
3,349
2,294
Due to other governmental units
(
4,977)
Accrued payroll
(
1,266)
( 849)
Accrued interest payable
138
138
Due to other funds
803
76,123
Bonds payable
50,000
Net increase (decrease) in working capital
$ 211,123
$( 55,734)
CITY OF EDINA, MINNESOTA
SEWER RENTAL FUND
BALANCE SHEET
DECEMBER 31, 1980 AND 1979
1980
1979
ASSETS
Current assets
Cash (deficit)
$( 528,037)
$( 415,960)
Receivables
Accounts receivable
1,000
1,000
Customers
274,407
189,363
Assessments
1,220
1,284
Due from other governmental units
18,747
59,588
Prepaid expenses
115,352
95,498
Total current assets
$( 117,311)
$( 69,227)
Property and equipment, less
accumulated depreciation
$8,464,195
$8,230,179
Other assets
Receivable - Metropolitan Waste Control Commission
$ 560,083
$ 597,214
Total assets
$8,906.967
$8,758,166
LIABILITIES AND RETAINED EARNINGS
Current liabilities
Accounts payable
Accrued payroll
Due to other funds
Total current liabilities
Other liabilities
Deferred revenue
Retained earnings
Invested in property and equipment
Contributed
Unreserved
Total retained earnings
Total liabilities and retained earnings
$ 7,043
3,958
52,753
$ 63,754
$ 3,322
3,123
$ 6,445
$ 560,083 $ 597,214
$ 115,788
8,348,407
( 181,065)
$8,283,130
$8,906,967
$ 115,214
..8,114,965
( 75;672)
$8,154,507
$8,758,166
61
62
CITY OF EDINA, MINNESOTA
SEWER RENTAL FUND
STATEMENT OF REVENUE, EXPENSES AND RETAINED EARNINGS
YEARS ENDED DECEMBER 31, 1980 AND 1979,
1980
1979
Operating revenue - Sewer rentals
$1,388,669
$1,162,176
Operating expenses
Collection
Personal services
$ 106,032
$ 98,445
Other services, and charges
97,004
47,767
Supplies
34,797
17,224
Disposal - Contractual services
1,259,939
1,200,169
Administrative and general
Personal services
14,689
15,654
Other services and charges
62,431
42,168
Supplies
90
48
Depreciation
113,274
109,003
.Total operating expenses
$1,688,256
$1,530,478
Operating income (loss)
$( 299,587)
( 368,302)
Other revenue (expense)
Deferred charges
$ 6,659
$ 6,441
Rental income
4,776
4,776
Prior year's disposal charges
18,747
59,588
Current value credit - MCC
61,020
61,020
Total other revenue (expense)
$ 91,202
$ 131,825
Net loss
$( 208,385)
$( 236,477)
Property and equipment contributed by
special assessments
337,008
91,176
Retained earnings January
8,154,507
8,299,808
Retained earnings December 31
$8,283,130
$8,154,507
CITY OF EDINA, MINNESOTA
SEWER RENTAL FUND
STATEMENT OF CHANGES IN FINANCIAL POSITION
YEARS ENDED DECEMBER 31, 1980 AND 1979.
Fund provided
Operations
Net loss
Item not requiring current outlay of funds
Depreciation
Contributions in aid to construction
Total
Fund applied
Additions to property and equipment
Net increase (decrease) in working capital
Various elements of net change in working capital
Cash
Receivables
Due from other governmental units
Prepaid expenses
Accounts payable
Accrued salaries and wages
Due to other funds
Net increase (decrease) in working capital
1980 1979
$(208,385) $(236,477)
113,274
109,003
$( 95,111)
$(127,474)
337,008
91,176
$ 241,897
$( 36,298)
347,290 $ 115,908
$(105,393) $(152,206)
$(112,077) $(285,014)
84,980
( 40,841)
19,854
( 3,721)
( 835)
(
52,753)
$(105.393)
63,905
( 2,247)
40,731
( 265)
30,684
$(152,206)
63
64
CITY OF EDINA, MINNESOTA
LIQUOR FUND
BALANCE SHEET
DECEMBER 31, 1980 AND 1979
Other assets
Notes receivable - Less $4,973 in 1980 and
197.9 current portion included with
accounts receivable $ 54,707 $ 59,680
Loan to other funds 415,000 415,000
Total other assets $ 469,707 $ 474,680
Total assets $2,241,561 $2,199,421
LIABILITIES ANI) RETAINED EARNINGS
Current liabilities
Accounts payable $ 105,631 $ 122,904
Accured payroll 19,844 15,456
Due to.other funds 13,786 35,302
Due to other 'governmental units 28,422
Total current liabilities $ 167,683 $ 173,662
Retained earnings
Invested in property and equipment $ 922,651 $ 955,898
Unreserved 1,151,227 1.,069,861
Total retained earnings $2,073,878 $2,025,759
Total liabilities and retained earnings $2,241,561 $2,199,421
1980
1979
ASSETS
Current assets
Cash
$( 30,065)
$ 130,600
Petty cash and change funds
3,500
3,500
Accounts receivable
9,151
7,236
Prepaid expenses
7,512
19,642.
Inventories
85.9,105
607,865
Total current assets
$ 849,203
$ 768,843
Property and equipment, less
accumulated depreciation
$ 922,651
955,898
Other assets
Notes receivable - Less $4,973 in 1980 and
197.9 current portion included with
accounts receivable $ 54,707 $ 59,680
Loan to other funds 415,000 415,000
Total other assets $ 469,707 $ 474,680
Total assets $2,241,561 $2,199,421
LIABILITIES ANI) RETAINED EARNINGS
Current liabilities
Accounts payable $ 105,631 $ 122,904
Accured payroll 19,844 15,456
Due to.other funds 13,786 35,302
Due to other 'governmental units 28,422
Total current liabilities $ 167,683 $ 173,662
Retained earnings
Invested in property and equipment $ 922,651 $ 955,898
Unreserved 1,151,227 1.,069,861
Total retained earnings $2,073,878 $2,025,759
Total liabilities and retained earnings $2,241,561 $2,199,421
CITY OF EDINA, MINNESOTA
LIQUOR FUND
STATEMENT OF REVENUE, EXPENSES AND RETAINED EARNINGS
YEARS ENDED DECEMBER 31, 1980 AND 1979
Sales
Cost of sales
Gross profit
Operating expenses
Selling
Occupancy
Administrative
Total operating
expenses
Operating income
$ 79,341
38,905
35.678
$ 153,924
$ 45,898
Other income (expense)
Interest $ 7,747
Discounts 19,905
Cash over (short) ( 36)
Other 1,061
Total other revenue $ 28,677
Net income ,$_ 74,575
Transfers to other
funds
General Fund
Park Fund
Park Construction
Fund
Retained earnings
January 1
Retained earnings
December 31
65
$
136,452
1980
110,099
1979
50th Street
Yorkdale
Grandview
Totals
Totals
$1,200,309
$2,510,132
$2,081,391
$5,791,832
$5,209,247
1,000,487
2,092,917
1,774,629
4,868,033
4,433,815
$ 199,822
$ 417,215
$ 306,762
923,799
$ 775,432
$ 79,341
38,905
35.678
$ 153,924
$ 45,898
Other income (expense)
Interest $ 7,747
Discounts 19,905
Cash over (short) ( 36)
Other 1,061
Total other revenue $ 28,677
Net income ,$_ 74,575
Transfers to other
funds
General Fund
Park Fund
Park Construction
Fund
Retained earnings
January 1
Retained earnings
December 31
65
$
136,452
$
110,099
$
325,892
$
252,548
48,324
37,251
124,480
118,303
43,350
41,455
120,483
123,527
$
228,126
$
188,805
570,855
$ 494,378
$ 189,089
$
117,957
$
352,944
$
281,054
$
7,747
$
5,744
$
35,450
$
30,660
86,015
74,735
(
276)
59
(
253)
(
71)
314
291
1,666
1,577
$
35,488
$.
31,010
$
95,175
$
81,985
1-224,.577 $ 148,967 $ 448,119 $ 363,039
$ 90,000 $ 63,225
230,000 231,775
801000 80,000
400,000 $ 3752000
$2,025,759 $2,037,720
$2,073,878 $2,025.759
MM
CITY OF EDINA. MINNESOTA
LIQUOR FUND
STATEMENT OF CHANGES IN FINANCIAL POSITION
YEARS ENDED DECEMBER 31, 1980 AND 1979
Funds provided
Operations
Net income
Item not requiring current outlay of funds
Depreciation
Decrease in notes receivable
Total
Funds applied
Transfer to other funds
Additions to .property and equipment
Net increase (decrease) in working capital
Various elements of net change in working capital
Cash
Receivables
Due from other funds
Prepaid expenses
Inventories
Accounts payable
Accrued payroll
Due to other funds
Due to other governmental units
Net increase (decrease) in working capital
1980 1979
$ 448,119 $ 363,039
45,962 431182
$ 494,081 $ 406,221
4,973 4,974
499,054 $ 411,195
$ 400,000 $ 375,000
12,715 49,367
412,715 $ 4241367
$ 86,339 13 L 2)
$(160,665) $ 100,239
1,915
2,263
(128,064)
( 12,130)
5,681
251,240
( 53,070)
17,273
5,627
( 4,388)
( 3,021)
21,516
57,173
( 28,422)
S 86,339 J 13.172)
CITY OF EDINA, MINNESOTA
LIQUOR FUND
SCHEDULE OF OPERATING EXPENSES
YEARS ENDED DECEMBER 31, 1980 AND 1979
50th Street Yorkdale Grandview
Selling
Salaries and wages
$ 70,588
$126,024
$102,050
Supplies
5,205
7,510
5,177
Licenses and dues
234
64
54
Service contract
1,263
1,263
1,263
Direct promotion
1,907
1,554
1,518
Other
144
37
37
Heat
$ 79,341
$136,452
$110,099
Occupancy
Salaries and wages
$ 1,799
$ 632
$ 1,589
Telephone
628
655
335
Supplies
1,909
679
1,264
Light and power
6,218
8,993
3,623
Maintenance, heating
and cooling
856
1,005
106
Heat
870
999
1,453
Laundry and rug
277
1,138
495
service
308
818
559
Burglar alarm
405
434
434
Insurance
5,832
11,636
9,743
Share of maintenance
345
750
Repair and maintenance
2,53.3
3,000
1,922
Depreciation
15,606
16,255
14,101
Rubbish hauling
1,317
1,885
1,885
Janitorial service
73
116
29
Water and sewer service
186
447
188
Miscellaneous
20
20
20
$ 38,905
$ 48,324
$ 37,251
Administrative
Salaries and wages
$ 14,017
$ 15,300
$ 16,180
Supplies
894
2,470
648
Professional service
1,440
1,372
1,422
Allocated expenses -
406
$325,892
$252,548
Retirement, insurance,
office supplies, etc.
18,600
22,620
22,260
Mileage
450
450
450
Miscellaneous
277
1,138
495
35,678
43,350
$ 41,455
Total operating
expenses
$153,924
$228,126
llaa,805
67
Totals
1980
1979
$298,662
$236,224
17,892
13,692
352
177
3,789
341
4,979
1,708
218
406
$325,892
$252,548
$ 4,020
1,618
3,852
18,834
1,967
3,322
1,685
1,273
27,211
1,095
7,455
45,962
5,087
218
821
60
$124,480
$ 45,497
4,012
4,234
63,480
1,350
1,910
$120,483
$ 510
1,425
1,297
15,278
3,002
4,291
1,270
1,440
33,853
1,212
.6,696
43,182
3,254
647
946
$118,303
$ 58,752
2,574
3,720
54,660
873
2,948
123 527
$570,855 $494,378
T
CITY OF EDINA, MINNESOTA
SWIMMING POOL FUND
BALANCE SHEET
DECEMBER 31, 1980 AND 1979
ASSETS '
Current asset
.Cash (deficit)
Property and equipment, less
accumulated depreciation
Total assets
LIABILITY AND RETAINED EARNINGS
Current liability
Accounts payable
Retained earnings
Invested in property and equipment
Contributed
Unreserved
Total retained earnings
Total liability Mud retained earnings
1980
1979.
$( 49,894) $ ( 41,090)
$ 328,869
1-218
,975
$ 329,133
$ 288,043
$ 1,35.0 $ 226
$ 328,341
528
( 51,244)
$ 277,625
1 278,975
$ 329,083
50
( 41,316)
$ 287,817
$ 288,043
CITY OF EDINA, MINNESOTA
SWIMMING POOL FUND
STATEMENT OF REVENUE, EXPENSES AND RETAINED EARNINGS
YEARS ENDED DECEMBER 31, 1980 AND 1979
Operating revenue
Season tickets
General admissions
Rentals and instruction programs
Concessions (less cost of goods sold)
Other
Total operating revenue
Operating expenses
Salaries and wages
Supplies
Utilities
Insurance
Repair and maintenance
Professional service
Printing and office expense
Central services
Concessions - Operating
Contractual services
Depreciation
Other
Total operating expenses
Net loss
Transfer from General Fund
Transfer from Park Fund
Retained earnings January 1
Retained earnings December 31
1980 1979
$ 32,469 $ 30,166
11,932 9,295
5,000 5,000
7,979 6,475 .
1.729 1.072.
$ 59,109 .52 008
$ 37,687 $ 32,577
9,277
.4,979
11,853
12,923
716
843
3,230
549
100
100
2,498
1,462
4,380
3,600
5,583
4,045
760
309
742
627
453
411
$ 77,279
$ 62,425
$( 18,170) $( 10,417)
7,500 7,500
478
287,817 290,734
277.625 $ 287,817
GS]
70
CITY OF EDINA, MINNESOTA
SWIMMING POOL FUND
STATEMENT OF CHANGES IN FINANCIAL POSITION
YEARS ENDED DECEMBER 31, 1980 AND 1979
Funds provided
Operations
Net loss
Item not requiring current outlay of funds
Depreciation
Transfer from General Fund
Transfer from Park Fund
Funds applied
Additions to property and equipment
Net decrease in working capital
Various elements of net.change in working capital
Cash
Due from other funds
Accounts payable
Net decrease in working capital
1980 1979
$(18,170) $(10,417)
. 742
627
$(17,428)
$( 9,790)
7,500
7,500
478
9,450)
2,290
478 $ 2,383
9 928) ICA.6 3)
$( 8,804) $ 1,936
( 7,500)
1,124) 891
9 928)
$( 4,673)
71
CITY OF EDINA, MINNESOTA
GOLF COURSE FUND
BALANCE SHEET
DECEMBER 31, 1980 AND 1979
1980 1979
ASSETS
Current assets
Cash (deficit) $( 143,991) $ 87,696
Petty cash and change funds 400 400
Investments 12,728 12,728
Accounts receivable 677
Inventories 1,297 .2,550
Total current assets $( 128,889) $ 103,374
Property and equipment, less
accumulated depreciation $1,357,.306 $1,320,486
Total assets $1,228,417 $1,423,860
LIABILITIES AND RETAINED EARNINGS
Current liabilities
Accounts payable
$
6,662
$
8,449
Accrued payroll
31622
3,036
Due to other funds
18,512
268,339
Bonds payable
40,000
40,000
Total current liabilities
$ 68,796
$
319,824
Other liabilities
Long-term liability - Bonds payable,
less current portion above
$
290,000
$
330,000
Deposits
2,534
900
Loan from other funds
545,000
545,000
Total other liabilities
$
837,534
$
875,900
Retained earnings
Invested in property and equipment $ 452,789 $ 405,486
Contributed 29,517
Unreserved ( 160,219) ( 177,350)
Total retained earnings $ 322,087 $ 228,136
Total liabilities and retained earnings $1,228,417 $1,423,860
72
CITY OF EDINA, MINNESOTA
GOLF COURSE FUND
STATEMENT OF REVENUE, EXPENSES AND RETAINED EARNINGS
YEARS ENDED DECEMBER 31, 1980 AND 1979
1980 1979
Operating revenue
Green fees $ 300,910 $ 242,863
Rental fees 55,750 47,855
Membership fees 30,972 27,022
Concessions (less cost of goods sold) 41,709 33,478
Range 58,031 46,695
Lessons 3,556 5,234
Other 24 .77
Total operating revenue $ 490,952 $ 403,2.24
Operating expenses
Administration $ .98,118 $ 81,554
Building - Club house and pro shop 44,780 26,590
Maintenance of course and grounds 179,202 168,278
Range and grill 58,876 51,015
Depreciation 19,777 14,983
Total operating expenses $ 400,753 $ 342,420
Operating income 90,199 $ 60;804
Other revenue (expense)
Interest on investments $ 10,462
Interest and paying agent fees $( 25,765) ( 32,300)
Total other revenue (expense) $( 25,765) $( 21,838)
Net income $ 64,434 $ 38,966
Transfer to Recreation-Center Fund (300,000)
Transfer from Park Fund 29,517
Retained earnings January 1 228,136 489,170
Retained earnings. December 31 $ 322,087 $ 228,136
CITY OF EDINA, MINNESOTA
GOLF COURSE FUND
STATEMENT OF CHANGES IN FINANCIAL POSITION
YEARS ENDED DECEMBER 31, 1980 AND 1979
Funds provided
Operations
Net income
Item not requiring current outlay of funds
Depreciation
Deposits
Disposals of property and equipment - Net
Transfer from Park Fund
Funds applied
Additions to property and equipment
Current installment of long -term debt
Deposits
Net increase (decrease) in working capital
Various elements of net change in working capital
Cash
Accounts receivable
Inventory
Accounts payable
Accrued payroll
Due to other funds
Net increase (decrease) in working capital
1980 1979
$ 64,434 $ 38,966
19,777 14,983
$ 84,211 $ 53,949
1,634
823
29,517
116,185 $ 53,949
$ 57,420 $ 309,889
40,000 40,000
1A121
$ 97,420 $ 351,010
L-1 8 L6 5 5(297.061)
$(231,687)
677
( 1,253)
1,787
( 586)
249,827
$( 23,019)
1,948
( 6,581)
( 1,264)
(268,145)
S 18.765 5(297,061)
73
74
CITY OF EDINA, MINNESOTA
GOLF COURSE FUND
SCHEDULE OF OPERATING EXPENSES
YEARS ENDED DECEMBER 31, 1980 AND 1979
1980 1979
Administration
Personal services
Contractual services
Commodities and supplies
Other charges
.Total administration expense
Building - Club house and pro shop
Personal services
Utilities
Fuel
Supplies
Repairs - Building
Contractual services
Less amount charged to grill
Other
Total building - Club house and pro shop
Maintenance of course and grounds
Personal services
Contractual services
Commodities and supplies
Fixed charges
Other
Total maintenance
Range and grill
Personal services
Contractual services
Commodities and supplies
Total range and grill
Depreciation
Total operating expenses
$ 53,759 $ 43,707
40,821 33,981
2,752 2,364
786 1,502
98,118 81,554
$ 14,667
$ 0.230
16,776
7,019
2,124
1,788
7,906
5,942
3,635
1,981
2,756
3,719
( 6,218)
( 3,250)
3,134
1.161
$ 44;780 26,590
$ 92,790 $ 90,377
10,887 11,389
46,125 41,897
29,400 24,600
15
$ 179,202 $ 168,278
$ 48,348 $ 43,582
6,431 3,353
4,097 42080
58,876 $ 51,015'
$ 19,777 $ 14,983
S 400.753 S 342,420
75
CITY OF EDINA, MINNESOTA
RECREATION CENTER FUND
BALANCE SHEET
DECEMBER 31, 1980 AND 1979
LIABILITIES. RESERVES AND RETAINED EARNINGS
Current liabilities
Accounts payable $ 42,016 $ 18,233
Accrued payroll . 6,943 4,993
Due to other funds 2,866 45,079
Bonds payable 105,000 105,000
Accrued interest 933 4,563
Total current liabilities $ 157,758 $ 177,868
Other liabilities
Long -term liability - Bonds payable,
less current portion above $ 295,000 $ 400,000
Loan from other funds 470,000 470,000
Total other liabilities $ 765,000 $ 870,000
Reserve for debt retirement $ 52,300 $ 52,300
Retained earnings
Invested in property and equipment $ 203,817 $ 84,496
Contributed 15,652 6,000
Unreserved ( 29,988). 194,268
Total retained earnings $ 189,481 $ 284,764
Total liablities, reserves
. and retained earnings $1,164.539 51,384.932
1980
1979
ASSETS
Current assets
Cash (deficit)
$( 270,994)
$(
44,142)
Petty cash and change funds
700
700
Accounts receivable
20,410
32,114
Due from other governmental units
4,035
Due from other funds
20,713
30,451
Inventories
206
313
Total current assets
$( 224,930)
$
19,436
Property and equipment, less
accumulated depreciation
$1,089,469
$1,065,496
Other assets
Loan to other funds
$ 300,000
$
300,000
Total assets
$1,164,539
$1,384,932
LIABILITIES. RESERVES AND RETAINED EARNINGS
Current liabilities
Accounts payable $ 42,016 $ 18,233
Accrued payroll . 6,943 4,993
Due to other funds 2,866 45,079
Bonds payable 105,000 105,000
Accrued interest 933 4,563
Total current liabilities $ 157,758 $ 177,868
Other liabilities
Long -term liability - Bonds payable,
less current portion above $ 295,000 $ 400,000
Loan from other funds 470,000 470,000
Total other liabilities $ 765,000 $ 870,000
Reserve for debt retirement $ 52,300 $ 52,300
Retained earnings
Invested in property and equipment $ 203,817 $ 84,496
Contributed 15,652 6,000
Unreserved ( 29,988). 194,268
Total retained earnings $ 189,481 $ 284,764
Total liablities, reserves
. and retained earnings $1,164.539 51,384.932
76
CITY OF EDINA, MINNESOTA
RECREATION CENTER FUND
STATEMENT OF REVENUE, EXPENSES AND RETAINED EARNINGS
YEARS ENDED DECEMBER 31, 1980 AND 1979
1980 1979
Operating revenue
Rental fees $ 154,253 $ 164,500
Season ticket sales 23,413 24,618
Daily skating fees 6,876 4,569
Admissions 25,643 30,246
Concessions (less cost of goods sold) 9,893 8,994
Vending machine commissions 7,607 5,782
Services - Skate sharpening 3,798 3,008
Other 3,496 91
Total operating revenue $ 234,979 241,808
Operating expenses
Personal services $ 122,512 $ 95,549
Contractual services 89,943 89,343
Commodities, supplies and repairs 95,437 51,840
Depreciation 2,812 39765
Other charges 29,700 27,300
Total operating expenses $ 340,404 267,797
Operating loss $(105,425),- $( 259989).
Other revenue (expense)
Interest on investments
$ 2,600
Interest and paying agent fees
$( 7,010)
( 10,885)
Total other revenue (expense)
)
$( 7,010)
$( 8,285)
Net loss
$(112,435)
$( 34,274)
Transfer
from Golf Course Fund
300,000
Transfer
from Park Fund
9,652
Transfer
from General Fund
7,500
7,500
Retained
earnings January 1
284,764
11,538
Retained
earnings December 31
$ 189,481
1_2.a 764
77
CITY OF EDINA, MINNESOTA
RECREATION CENTER FUND
STATEMENT OF CHANGES IN FINANCIAL POSITION
YEARS ENDED DECEMBER 31, 1980 AND 1979
1980 1979
Funds provided
Operations
Net loss $(112,435) $( 349274)
Item not requiring current outlay of funds
Depreciation 2,812 3,765
$(109,623) $( 30,509)
Transfer from Park Fund 9,652
Transfer from General Fund 7,500 7,500
$( 92,471) $( 23,009)
Funds applied
Additions to property and equipment. $ 26,785 $ 93,721
Current installment of long -term debt 105,000 105,000
131,785 198,721
Net increase (decrease) in working capital $(224,256) $(221,730)
Various elements of net change in working capital
Cash
$(226,852)
$(146,730)
Receivables
( 11,704)
8,589
Due from other funds
( 9,738)
10,151
Inventory
( 107)
( 319)
Accounts payable
( 23,783)
4,841
Due from other governmental units
4,035,
Accrued payroll
( 1,950)
( 922)
Accrued interest
3,630
( 2,358)_
Due to other funds
42,213
( 44,982)
Bonds payable
( 50,000)
Net increase (decrease) in working capital
$(224,256)
x(221,730)
78
CITY OF EDINA, MINNESOTA
GUN RANGE FUND
BALANCE SHEET
DECEMBER 31, 1980 AND 1979
1980 1979
ASSETS
Current assets
Cash (deficit) $( 18,226) $( 13,452)
Due from other governmental units 3,350 3,000
Due from other funds 255 340
Inventories 250 250
Total current assets $( 14,371) $( 9,862)
Property and equipment, less accumulated depreciation 64,839 $ 64,019
Total assets 1-50.468 $ 54,157
LIABILITIES AND RETAINED EARNINGS
Current liabilities
Accounts payable
$ 465
$ 1,326
Accrued payroll
327
295
Due to other funds
4,108
Total current liabilities
792
$ 5,729
Retained earnings
Invested in property and equipment
$ 18,863
$ 19,019
Contributed
45,976
45,000
Unreserved
( 15,163)
( 15,591)
Total retained earnings
$ 49,676
48,428
Total liabilities and retained earnings
$ 50.468
$ 54,157
79
CITY OF EDINA, MINNESOTA
GUN RANGE FUND
STATEMENT OF REVENUE, EXPENSES AND RETAINED EARNINGS
YEARS ENDED DECEMBER 31, 1980 AND 1979
1980
1979
Operating revenue
Range fees.
$
14,402
$
14,823
Sale of ammunition
2,854
3,042
Concessions (less cost of goods sold)
271
95
Other
498
219
Total operating revenue
$
18,025
$
18,179
Operating expenses
Personal service
$
9,475
$
8,957
Contractual services
2,678
2,778
Commodities and supplies
5,319
6,178
Depreciation
156
59
Other
125
114
Total operating expenses
$
17,753
$
18,086
Net income
$
272
$
93
Transferred from Park Fund
976
Retained earnings January 1
48,428
48,335
Retained earnings December 31
$ 49.676
$ 48,428
CITY OF EDINA, MINNESOTA
GUN RANGE FUND
STATEMENT OF CHANGES IN FINANCIAL POSITION
YEARS ENDED DECEMBER 31, 1980 AND 1979
1980 1979
Funds provided
Operations
Net income $ 272 $ 93
Item not requiring current outlay of funds
Depreciation 156 59
Transfers from other funds 976
$ 1,404 152
Funds applied
Additions to property and equipment $ 976 4,108
Net increase (decrease) in working capital $ 428 $( 3,956)
Various elements of net change in working capital
Cash $( 4,774) $ 1,607
Receivables 350 ( 26)
Due from other funds ( 85) ( 39)
Accounts payable 861 ( 1,239)
Accrued payroll. ( 32) ( 151)
Due to other funds 4,108 ( 4,108)
Net increase (decrease) in working capital L 428 $( 3,956)
CITY OF EDINA, MINNESOTA
ART CENTER FUND
BALANCE SHEET
DECEMBER 31, 1980 AND 1979
ASSETS
Current assets
Cash (deficit)
Petty cash and change funds
Due from other funds
Inventories
Total current assets
Property and equipment, less accumulated depreciation
Total assets
LIABILITIES AND RETAINED EARNINGS
Current liabilities
Accounts payable
Accrued payroll
Due to other funds
Total current liabilities
Retained earnings
Invested in property and equipment
Contributed
Unreserved
Total retained earnings
Total liabilities and retained earnings
1980 1979
$( 73,389)
15
4,770
$( 68,544)
$ 178,194
L!99-,650
$( 30,308)
75
1,040
5,547
$( 23,646)
172,452
$ 148,806
$ 319 $ 6,789
718 450
25,303
$ 1,037 $ 32,542
$ 150,987 $ 150,419
27,207
22,033
( 69,581
( 56,188)
$ 108,613
$ 116,264
$ 109,650
$ 148.,806
$1
82
CITY OF EDINA, MINNESOTA
ART CENTER FUND.
STATEMENT OF REVENUE, EXPENSES AND RETAINED EARNINGS
YEARS ENDED DECEMBER 31, 1980 AND 1979
1980 1979
Operating revenue
Memberships $ 5,769 $ 4,737
Registration fees 41,715 40,759
Retail sales less cost of goods sold 3,193 3,34.4
_
Total operating revenue 50 677 48,840
Operating expenses
Administration
Personal services $ 16,836 $ 15,723
Contractual services 1,555 1,163
Commodities 5,681 6,247
Other charges 2,947 3,420
27,019 26,553
Occupancy
Personal services
$ 2,416
$ 2,985.
Contractual services
7,424
6,827
Commodities
1,092
1,282
10 ,932
11,094
Instructors - Personal services
28,338
$ 30,273
Depreciation
$ 1,290
1,248
Total operating expenses
67,579
69,168
Operating loss
$( 16 902)
$( 20,328)
Other revenue (expense)
Donations $ 1,730 $ 1,560
Inventory adjustment - Prior year ( 5,117)
Account receivable adjustment - Prior year ( 1,700)
Other 2,346 1,633
Total other revenue 4,076 $( 3,624)
Net loss $( 12,826) $( 23,952)
Transfer from Park Fund 5,175 967
Retained earnings January 1 116,264 139,249
Retained earnings December 31 $ 108, -613 $ 116,264
CITY OF EDINA, MINNESOTA.
ART CENTER FUND
STATEMENT OF CHANGES IN FINANCIAL POSITION
YEARS ENDED DECEMBER.31, 1980 AND 1979
Funds provided
Operations
Net loss
Item not requiring current outlay of funds
Depreciation
Transfers from other funds
Disposals of.property and equipment (net)
Funds applied
Additions to property and equipment
Net decrease in working capital
Various elements of net change in working capital
Cash
Receivables
Due from other funds
Inventories
Accounts payable
Accrued. payroll
Due to other funds
Net decrease in working capital.
1980 1979
$( 12,826)
1,290
$( 11,536)
5,175
$( 6,361)
$( 23,952)
1,248
$( 22,704)
967
170
$( 21,567)
7,032 $ 26,153
$(13,393) S( 47,720)
$( 43,081) $( 12,146)
( 1,700)
( 1,040)
1,040
( 777)
( 3,834)
6,470
( 5,647)
( 268)
( 130)
25,303 ( 25,303)
$( 13,393) IL-AL-7 20)
83
84
CITY OF EDINA, MINNESOTA
STATEMENT OF GENERAL FIXED ASSETS
YEAR ENDED DECEMBER 31, 1980
(with comparative totals for December 31, 1979)
General Fixed Assets
Land
Land improvements
Buildings
Furniture and fixtures
Vehicles
Tools
Election equipment
Engineering equipment
Fire equipment
Highway equipment
Park equipment
Police equipment
Miscellaneous equipment
Traffic signals equipment
Parks
Construction in progress
Investment in General Fixed Assets
General Fund
Park Fund
Park Construction Fund
1980 1979
$ 2,280,117
$ 707,117
1,321,402
1,252,481
1,493,080
1,493,080
161,050
154,267
139,048
107,591
5,812
5,812
131,320
131,320
49,055
50,347
422,699
389,081
1,039,550
903,564
197,914
188,550
302,524
271,624
88,196
80,117
91,706
91,706
2,281,101
20,523
3,603,548
$10,025,097 - $ 9,430,205
$ 4,381,537 $ 4,124,040
5,643,560 2,294,137
3,012,028
$10,025.097 $ 9,430.205
CITY OF EDINA, MINNESOTA
STATEMENT OF GENERAL LONG -TERM DEBT
DECEMBER 31, 1980
(With comparative totals for December 31, 1979)
Redevelopment Park
Sinking Sinking Totals
Fund Fund 1980 1979
AMOUNT AVAILABLE FOR PAYMENT
OF GENERAL LONG -TERM DEBT
Amount available in general
debt service funds $2,233,550 $325,133 $2,558,683 $2,943,366
GENERAL LONG -TERM DEBT PAYABLE
AND FUND BALANCE
General long -term debt payable $2,050,000 $ 50,000 $2,100,000 $2,450,000
Fund balance 183,550 275,133 458,683 493,366
Total general long -term
debt payable and
fund balance $2,233,550 $325,133 $2,558,683 $2,943,366
SECTION III
STATISTICAL SECTION
87
CITY OF EDINA, MINNESOTA
SCHEDULE OF CASH, INVESTMENTS AND SECURITY FOR DEPOSITS
DECEMBER 31, 1980
Cash
and
First Edina National Bank, Edina, Minnesota
Checking accounts
$ 219,753
Savings account
326,219
Certificates of deposit
600,000
$1,145,972
First Southdale National Bank,
Edina, Minnesota
Deposit account
$ 169,384
Payroll account
25,27.5_
$ 194,659
Southwest Fidelity State Bank,
Edina, Minnesota
Certificates of deposit
$ 500,000
Americana State Bank, Edina, Minnesota
Certificates of deposit
$ 100,000
First National Bank of Minneapolis
Minneapolis, Minnesota
Certificates of deposit
$ 400,000
U.S. Government Securities
X$1,434,850
City of Edina Bonds
$ 12,729
Land
$ 24,500
Donated securities
$ 995
Petty cash and change funds
$ 5,225
Total cash and investments $3,818,930
Face amount of
securities pledged
by depository
as collateral
$1,285,000
$ 410,000
$ 415,000
Additional coverage of $100,000 for demand and time deposits is provided at each
depository by the Federal Deposit Insurance Corporation.
Minnesota law stipulates that the amount of deposits cannot exceed the F.D.I.C.
insurance plus ninety percent of the market value of securities pledged as collateral
by the bank. On December 31, 1980, the bank deposits at First National Bank of
Minneapolis and Southwest Fidelity State Bank were in excess of this requirement.
M
CITY OF EDINA, MINNESOTA
COMBINED SCHEDULE OF INDEBTEDNESS
DECEMBER 31, 1980
Interest
rate
Bonded Indebtedness
Special Assessment Debt
Service
Fund
Improvement Bonds of
1975
5.30 -5.50
Improvement Bonds of
1977
4.25 -4.40
Temporary Improvement
Bonds
of 1978
5.4
Temporary .Improvement
Bonds
of 1979
6.75
Temporary Improvement
Bonds
of 1980
7.35
Revenue Bonds
Golf Course Bonds
Recreation Center Series A
Recreation Center Series B
Recreation Center Series D
General Long -term Debt
Park Construction Bonds
General Obligation
Redevelopment Bonds
Total bonded indebtedness
Other indebtedness
Installment purchases
Total indebtedness
3.20 -3.50
3.20 -3.30
3.00
5.20 -5.25
Final 1980 Percent
Issue maturity paid by tax
date date levies
12/1/75
11/1/77
11/1/78
11/1/79
ll /1/80
12/1/63
9/1/65
9/1/65
11/1/78
12/1/83
11/1/86
11/1/81
11/1/81
4/1/81
12/1/87
9/1/82
9/l/82
11/1/85
3.9 3/1/:57. 3./1/81
5.30 -6.50 12/1/75 12/1/93
5.50-6.50 1977 -1978 1981-82
None
None
100%
89
Indebtedness
Authorized Due in 1981
and issued Redeemed Outstanding Principal Interest
$ 3,500,000
$ 2,000,000
$
1,500,000
$
500,000
$
82,500
2,700,000
900,000
1,800,000
300,000
78,000
1,750,000
1,750,000
1,750,000
94,500
1,500,000
1,500,000
1,500,000
101,250
1,400,000
1,400,000
1,400,000
105,000
$10,850,000
$ 2,900,000.
$
7,950,000
$
5,450,000
$
461,250
$ 825,000
$ 495,000
$
. 330,000
$
40,000
$
11,370
300,000
240,000
60,000
30,000
1,980
150,000
120,000
30,000
15,000
900
370,000
60,000
310,000.
60,000
16,.155
$ 1,645,000
$ 915,000
$
-730,000
$ 145,000
$
30,405
$ 700,000
$ 650,000
$
50,000
$
50,000
2,200,00.0
150,000
2,050,000
50,000
$
125,500
$ 2,900,000
$ 800,000
$
2,100,000
$
100,000
$
125,500
$15,395,000
$ 4,615,000
$10,780,000
$
5,695,000
$
617,155
28,155
18,987
9,168
4,954
367
$15,423,155
$ 4,633,987
$10,789,168
$ 5,699,954
$ 617,522
Me
CITY OF EDINA, MINNESOTA
SCHEDULE OF CHANGES IN BONDED INDEBTEDNESS
YEAR ENDED DECEMBER 31, 1980
BONDS PAYABLE
DECEMBER 31, 19.80
Issue
date
Special assessment bonds
$3,500,000 Improvement Bonds
of 1975 12/1/75
$500,000 per year
$2,700,000 Improvement Bonds
of 1977 11/1/77
$300,000 per year
$1,750,000 Temporary Improvement
Bonds of 1978 11/1/78
$1,750,000
$1,500,000 Temporary Improvement
Bonds. of 1979 6/1/79
$1,500,000
$1,400,000 Temporary Improvement
Bonds of 1980 11/1/80
$1,400,000
Total special assessment bonds
Interest Maturity Principal
rate date amount
5.30 -5.50% 12/1/81 -83 $ 1,500,000
4.25 -4.40 11/1/81 -86 $ 1,800,000
5.4 11/1/81
6.75 11/1/81
7.35 11/1/81
$ 1,750,000
$ 1,500,000
$ 1,400,000
$ 7,950,000
Balance
Balance
January 1
Issued Redeemed
December 31
Special assessment bonds
$ 7,350,000
$1,400,000 $. 800,000
$ 7,950,000
Revenue bonds
Waterworks
50,000
50,000
Golf.Course
370,000
40,000
330,000
Recreation Center
505,000
105,000
400,000
General obligation bonds
2,450,.000
350,.000
.2,100,000
$10,725,000
$1,400,000 $1,3454000
$10,780,000
BONDS PAYABLE
DECEMBER 31, 19.80
Issue
date
Special assessment bonds
$3,500,000 Improvement Bonds
of 1975 12/1/75
$500,000 per year
$2,700,000 Improvement Bonds
of 1977 11/1/77
$300,000 per year
$1,750,000 Temporary Improvement
Bonds of 1978 11/1/78
$1,750,000
$1,500,000 Temporary Improvement
Bonds. of 1979 6/1/79
$1,500,000
$1,400,000 Temporary Improvement
Bonds of 1980 11/1/80
$1,400,000
Total special assessment bonds
Interest Maturity Principal
rate date amount
5.30 -5.50% 12/1/81 -83 $ 1,500,000
4.25 -4.40 11/1/81 -86 $ 1,800,000
5.4 11/1/81
6.75 11/1/81
7.35 11/1/81
$ 1,750,000
$ 1,500,000
$ 1,400,000
$ 7,950,000
91
CITY OF EDINA, MINNESOTA
BONDS PAYABLE (CONTINUED)
DECEMBER 31, 1980
Issue
Interest
Maturity
Principal
date
rate
date
amount
Revenue bonds
$825,000 Golf Course Bonds
12/1/63
$40,000 per year
3.30 -3.40%
12/1 /81 -82
$ 80,000
$50,000 per year
3.40 -3.50
12/1/83 -87
250,000
$ 330,000
$300,000 Recreation Center
Series A
9/l/65
$30,000 per year
3.30
9/1/81 -82
60,000
$150,000 Recreation Center
Series B
9/1/65
$15,000 per year
3.00
9/1/81 -82
$ 30,000
$370,000 Recreation Center
Series D
11/1/78
$60,000 per year
5.20
11/1/81 -84
$ 240,000
$70,000 per year
5.25
11/1/85
70,000
310,000
Total revenue bonds
$ 730,000
General long -term debt
$700,000 Park Construction Bonds
3/1/57.
$50,000 per year
3.90
3/1/81
$ 50,000
$2,200,000 General Obligation
Redevelopment Bonds
12/1./75
$50,000 per year
5.50
12/1/81.
$ 50,000
$100,000 per year
5.50 -5.90
12/1/82 -86
500,000
$200,000 per year
6.00 -6.40
12/l/87 -91
1,000,000
$250,000 per year
6.50
12/1/92 -93
500,000
$ 2,050,000
Total general long -term debt
$ 2,100,000
Total bonds payable
$10,780,000
92
CITY OF EDINA, MINNESOTA
DEBT SERVICE REQUIREMENTS
DECEMBER 31, 1980
Year Special Assessment Bonds
Ended
Principal
Interest
1981
$5,450,000
$461,250
1982
800,000
120,100
1983
800,000
79,700
1984
300,000
39,300
1985
300,000
26,400
1986
300,000
13,200
1 987
200,000
45,300
1988
32,500
250,000
1989
1990
1991
1992
1993
$7,950,000.
Name
J. N. Dalen
Florence B. Hallberg
Ralph Johnson
Deputy assessors
.Revenue
Bonds
Principal
Interest
100,000
$145,000
$ 30,405
145,000
24,485
110,000
18,565
110,000
13,745
120,000
8,925
50,000
3,500
50,000
1,750
$739,950 $730,000 $101,375
EMPLOYEES' SURETY BONDS
DECEMBER 31., 1980
Position
Treasurer
Clerk
Assessor
General Lona -term Debt
Principal
Interest
$ 100,000
$ 125,500
100,000
122,750
100,000
117,250
100,000
111,750
100,000
106,150
100,000
100,400
200,000
94,500
200,000
. 82,500
200,000
70,300
200,000
57,900
200,000
45,300
250,000
32,500
250,000
16,250
$2,100,000 $1,083,050
Suretv Bond
$50,000
500
500
500
Police Department employees are covered by a faithful performance blanket position
bond of $5,000.
All employees, except police department and Treasurer, are covered by a faithful
performance blanket position bond of $50,000.
Year
1976
1977
1978
1979
1980
Year
1976
1977
'1978
1979
1980
CITY OF EDINA, MINNESOTA
TAX LEVIES AND COLLECTIONS
SPECIAL ASSESSMENT LEVIES AND COLLECTIONS
93
Collection
Percentage
Collection
Total
of current
of levy
of prior
levy
year's levy
collected
year's levy
$2,950,564
$2,844,997
96.42%
$ 60,903
3,226,450
3,152,345
97.70
80,716
3,544,897
3,474,459
98.01
68,652
3,655,500
3,604,948
98.62
26,669
4,128,322
4,083,521
98.91
35,791
SPECIAL ASSESSMENT LEVIES AND COLLECTIONS
93
Percentage
of total
Total
collections
collections
to levy
$2,905,900
98.497°
3,233,061
100.20
3,543,111
99.95
3,631,617
99.35
4,119,312
99.78
Percentage
Collection
Percentage
Collection
of total
Total
of current
of levy
of prior
Total
collections
levy
year's lei
collected
year's levy
collections
to levy
$1,371,621
$1,223,649
89.21%
$134,421
$1,358,070
99.01%
1,398,780
1,237,843
88.49
213,757
1,451,600.
103.78
1,304,745
19210,181
92.75
127,406
1,337,587
102.52
1,275,260
1,237,769
97.06
76,705
1,314,474
103.07
1,127,933
1,092,310
96.84
66,910
1,159,220
102.77.
CITY OF EDINA, MINNESOTA
ASSESSED VALUATION, TAX LEVIES AND MILL RATES
(SHOWN BY YEAR OF TAX COLLECTIBILITY)
Assessed valuation
Increment valuation
Contribution to fiscal
disparities pool
Received from fiscal
disparities pool
Taxable valuation
Tax levies
General Fund
Park Fund
Bonds and interest
Fire protection
Total
Mill rates
General Fund
Park Fund
Bonds and interest
Fire protection
Total
1979
$416,601,475
( 2,049,949)
(13,851,121)
3,407,244
$404.107,649_
$ 2,920,038
403,696
316,009
15,757
$ 3,655,500
7.226
.999
,782
.039
9.046
1980
$436,802,624
( 6,083,511)
(15,346,797)
4,125,589
$419,497,905
$ 3,378,638
448,187
.247,977
16,200
$ 4,091,002
8.134
1.079
.597
.039
9.849
1981
$504,778,611
( 7,973,641)
(19,175,260)
5,206,302
$482,836,012
$ 3,858,796
576,934
16,426
$ 4,452,156
7.986
1.194
.034
9.214
95