Loading...
HomeMy WebLinkAbout1966 Financial StatementsAUDITED FINANCIAL STATEMENTS AND OTHER FINANCIAL INFORMATION VILLAGE OF ,EDINA, MINNESOTA DECEMBER 31, 1966 ERNST & ERNST I AUDITED FINANCIAL STATEMENTS AND OTHER FINANCIAL INFORMATION VILLAGE OF EDINA, MINNESOTA December 31, 1966 ..v.. !!Fr. � INDEX ACCOUNTANTS' REPORT ON AUDITED FINANCIAL STATEMENTS........ PAGE 4 COMMENTS AND ACCOUNTANTS' REPORT ON OTHER FINANCIAL INFORMATION.......... ....... ............................... FUNDBALANCE SHEETS ......... ............................... 10 NOTETO FINANCIAL STATEMENTS ............................... 12 GENERAL FUND: BALANCESHEET .............. ............................... 13 STATEMENTOF SURPLUS ...... ............................... 14 ANALYSIS OF CHANGE IN CASH BALANCE ....................... 15 REVENUE........ 17 EXPENDITURES.............. ............................... CENTRALSERVICES .......... ............................... 21 FIXEDASSETS.... o ... o ...................... o---o ......... FUNDS). 22 23 STATEMENT OF REVENUE AND EXPENDITURES (MORNNGSDE BONDSPAYABLE ............. ............................... 24 POOR FUND: BALANCESHEET ............. ............................... 25 26 STATEMENT OF SURPLUS — UNAPPROPRIATED ... ..... I............ STATEMENT OF REVENUES AND EXPENDITURES ................... 26 ANALYSIS OF CHANGE IN CASH BALANCE ....................... 27 PARK FUND: BALANCESHEET ............. ............................... 28 STATEMENT OF UNAPPROPRIATED SURPLUS ...................... 29 ANALYSIS OF SURPLUS INVESTED IN FIXED ASSETS ............. 29 ANALYSIS OF CHANGE IN CASH BALANCE ....................... 30 REVENUEAND EXPENDITURES .... ............................... 31. FIXEDASSETS....... ........ ............................... . 32. A,, SWIMMING POOL FUND: BALANCESHEET ............. ............................... 33 STATEMENTOF SURPLUS ...... ............................... 34 ANALYSIS OF CHANGE IN CASH BALANCE ....................... 35 STATEMENT OF INCOME AND EXPENSE .......................... 36 STATEMENT OF INCOME AND EXPENSE (CONCESSIONS ONLY) ....... 37 FIXEDASSETS ............... ............................... 38 y� GOLF COURSE FUND: BALANCE SHEET......... .. .... •.• .......... 39 STATEMENT OF SURPLUS ..................... 40 ANALYSIS OF CHANGE IN CASH BALANCE ....................... 41 STATEMENT OF INCOME AND EXPENSE .................... 42 STATEMENT OF INCOME AND EXPENSE — OPERATING DEPARTMENTS.. 44 FIXEDASSETS .............. ............................... 45 BONDSPAYABLE ............. ............................... 46 �RECREATION CENTER FUND: ' BALANCE SHEET........ 47 ................. STATEMENTOF SURPLUS ..... ............................... 48 ANALYSIS OF CHANGE IN CASH BALANCE ....................... 49 STATEMENT OF INCOME AND EXPENSE .......................... 50 FIXEDASSETS .... ... ....... .............................. 51 BONDSPAYABLE... . o .... 000 ...... o ........... o ... oo-000 .... 52 INDEX (Cont'd) PARK SINKING FUND:. BALANCESHEET .............. ............................... PAGE 53 STATEMENTOF SURPLUS ...... ............................... 54 ANALYSIS OF CHANGE IN CASH BALANCE ....................... 55 BOND AND INTEREST MATURITIES AND DEFERRED TAX LEVIES.......................... ..............6..... 56 PARK CONSTRUCTION FUND: BALANCESHEET ............... ............................... 57 ANALYSIS OF RESERVE FOR CONSTRUCTION ..................... 58 ANALYSIS OF CHANGE IN CASH BALANCE ....................... 59 FIXEDASSETS ............... ............................... 60 IMPROVEMENT FUNDS: COMBINEDBALANCE SHEET ..... ............................... 62 STATEMENT OF SURPLUS UNAPPROPRIATED .................... 63 ANALYSIS. OF CHANGE IN CASH BALANCE ....................... 64 BONDSPAYABLE ............. ............................... 66 WATERWORKS FUND: BALANCESHEET ............. ............................... 67 NOTESTO BALANCE SHEET .... ............................... 68 STATEMENTOF SURPLUS ...... ............................... 69 STATEMENT OF INCOME AND EXPENSE .......................... 70 ANALYSIS OF CHANGE IN CASH BALANCE ....................... 72 FIXEDASSETS .............. ............................... 73 A SEWER RENTAL FUND: BALANCESHEET ............. ............................... 74 STATEMENTOF SURPLUS ...... ............................... 75 STATEMENT OF INCOME AND EXPENSE .......................... 76 ANALYSIS OF CHANGE IN CASH BALANCE ....................... 77 FIXEDASSETS .............. ............................... 78 LIQUOR DISPENSARY FUND: BALANCESHEET ............. ............................... 79 STATEMENT OF SURPLUS .............. 80 STATEMENT OF INCOME AND EXPENSE— ....................... 81 OPERATINGEXPENSES .... ............................... 82 ANALYSIS OF CHANGE IN CASH BALANCE ....................... 83 FIXEDASSETS ....... ............................... ..... 84 GENERAL: CASH— ALL FUNDS .......... ............................... 85. SECURITYFOR DEPOSITS ..... ............................... 86 INVESTMENTS.................... 87 TAXABLE VALUATIONS, TAX LEVIES AND RATES ................. 88 OFFICIALBONDS... o ............. o.o ..... o ... o.o .......... o 89 INSURANCECOVERAGE ........ ............................... 90 ORGANIZATION... ............................... ......... 92 1�7Ti1T� ERNST & ERNST FIRST NATIONAL BANK BLDG. MINNEAPOLIS, MINN. 55402 ACCOUNTANTS' REPORT ON AUDITED FINANCIAL STATEMENTS To the Village Council Village of Edina, Minnesota We have examined the balance sheets of the various funds of the Village of Edina, Minnesota as of "December 31, 1966 and the related statements of revenues and ex- penditures or income and expense and surplus for the year then ended. Our.exam- ination was made in accordance with.generally accepted auditing standards, and accordingly included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances. In our opinion, the accompanying balance sheets and statements of revenues and expenditures, income and expense and surplus present fairly the financial posi- tion of the Village of Edina at December 31, 1966 and its various special funds and the results of their operations for the year then ended, in conformity with generally accepted accounting principles applied on'a basis consistent with that of the preceding year. Minneapolis, Minnesota April 28, 1967 -4- ERNST & ERNST FIRST NATIONAL BANK BLDG. MINNEAPOLIS, MINN. 55402 COMMENTS AND ACCOUNTANTS' REPORT ON OTHER FINANCIAL INFORMATION Village of Edina Edina, Minnesota The audited financial statements of the various. funds of the Village consisting- of balance sheets and statements of revenues and expenditures or income and ex- pense, and surplus and our report thereon are presented in appropriate sections of this report. Financial information not specifically referred to above and financial information contained in the following comments is not considered necessary for a fair . presentation of the financial position and results of operations, and is submitted for analytical purposes only. The information shown in the schedules of security for deposits, taxable valuations, tax levies and rates, official bonds, insurance coverage and organization as presented in the general section of this.report,,was obtailnedf, romrinon= accountli,ng.,records, o,f the Village or made available to us by the Village, but we did not make an inde- pendent audit of them as they do not involve information which enters into the financial "statements. Other information was derived from the accounting records tested by us as a part of the auditing procedures followed in our-examination of the afore — mentioned audited financial statements and, in our opinion, is fairly presented in all material respects in relation to the financial statements taken as a whole. The following comments set forth certain auditing procedures and other matters pertinent to our examination: Cash on deposit at December 31, 1966 was reconciled to balances reported directly to us by the various depositories. Cash working funds and cash on hand for de- posit at December 31, 1966 were counted by us. Cash receipts and cash disbursements procedures were reviewed and tested by us"- for selected periods during the year to determine that proper procedures were being followed to control recording of receipts and that proper authorization was provided for disbursements. Village of Edina securities held for investment by the several funds of the Village were inspected by us, and related interest income computations were tested. Amounts reveivable from water and sewer rental charges at December 319 1966 were tested by direct correspondence and by review of the records for subsequent col lections. Differences reported were not material and were explained to our satis- faction. -5- Current and delinquent taxes and special assessments and tax settlements received during the year were confirmed by direct correspondence with the County Auditor.' We reviewed delinquent taxes reported to us and adjusted the balances to conform to the County Auditor's balances. Transactions pertaining to special assessments receivable were reviewed. Interfund transfers and charges and interfund balances were reviewed by us. We were present at the municipal liquor stores at the time physical inventories were taken.' We observed inventory procedures used by Village employees and tested quantities by! independent count of items selected by us. Inventory valuations Were tested by' reference to vendors' invoices and by tests of clerical accuracy. Additions to and disposals from fixed asset accounts were reviewed by us and veri- fied by inspection of contracts, invoices or other data. Allowances for deprecia- tion charged to operating funds of the Village were reviewed by us. We tested accounts payable by direct correspondence and by reference to disburse- ments subsequent to December 31, 1966. Canceled bonds and interest coupons redeemed and paid during 1966 were inspected by us. Official minutes of the Village Council for 1966 were read by us. Copies of licenses and permits issued during the year were tested to recorded col- lections. Recreational facilities, except for equipment, of the Swimming Pool Fund;,G&lf:l Course Fund and Recreation Center Fund are not depreciated. COMMENTS ON FINANCIAL STATEMENTS GENERAL FUND Detail schedules reflecting activity and status of this fund are shown on pages 13 to 24, inclusive, of this report. POOR FUND Reference is made to detail schedules elsewhere in this report as to operations of this fund. Such details appear on pages 25 to 27, inclusive. PARK FUND Reference is made to detail schedules elsewhere in this report as to operations of this fund. Such details appear on pages 28 to 32, inclusive. SWIMMING POOL FUND Detail schedules outlining financial operations of this fund are shown on pages 33 to 38, inclusive, of this report. The net income of $59.76 is after the provision of $6,965.00 for interest on bonded debt issued for the swimming pool facilities, and the provision of $380.00 for depreciation on swimming pool equipment. 0 GOLF COURSE FUND Net revenues of the Liquor Dispensary Fund are pledged to secure the payment of obligation of the Golf Course Fund. Detail schedules outlining financial opera =,,,, tions of this fund are shown on pages 39 to 46, inclusive, of this report. The net income of $17,680.07 is after the provision of $26,497.00 for interest on bonded debt issued for the golf course facilities, and the provision of $4,357.00 for depreciation on golf course equipment. $25,000.00 of the bonded debt matured and was redeemed in 1966. RECREATION CENTER FUND Construction was completed in 1966. Construction costs incurred by the Park Construction Fund were transferred to this fund. The net income of $7,522.77 is after the provision of $14,126.00 for interest on bonded debt issued for the recreational center facilities and the provision of $1,705.00 for depreciation on recreational center equipment. Net revenues of the Liquor Dispensary Fund are pledged to secure payment of obligation of the Recreation Center Fund. Detail schedules covering operations of this fund appear on pages 47 to 52, inclusive. PARK SINKING'FUND Reference is made to detail schedules on pages 53 to 56, inclusive, of this report a's to the operations of this fund. PARK CONSTRUCTION FUND Reference is made to detail schedules in this report as to operations of this fund. Such details appear on pages 57 to 61, inclusive. Fixed assets for park purposes amounting to $88,912.55 were purchased during the year. Funds were made available from a $87,000.00 transfer from the Liquor Dispensary Fund and a $100,000.00 advance from the Recreation Center Fund. Construction costs during the year on the golf course were $5,484.00, which together with $500.00 of pre- viously accumulated costs were transferred to the Golf Course Fund. Construction costs during the year on the Recreation Center were $20,221.18. Total accumulated costs of $543,137.681,were transferred to the Recreation Center in 1966. IMPROVEMENT FUNDS Reference is made to detail schedules elsewhere in this report as to operations of these funds and the related Construction Fund. Such details appear on pages 62 to 66, inclusive, of this report. Construction costs incurred by the Village, other than for park purposes, are ac- counted for in the Construction Fund which receives the proceeds from sale of permanent and temporary bonds sold for construction or improvement purposes by the Various 'improvement funds. Redemption of these bonds is provided for by levies of special assessments on properties benefited from the construction or improvements. To facilitate tabulation of these special assessments, interest from date of final assessment hearing to December 31st is included as part of project costs. Assess- able costs also include a percentage charge in an amount sufficient to reimburse the Village for actual costs of engineering and clerical services properly assign- able to the various special assessment projects. —7— The reserve for assessment adjustments represents the excess of assessments over, actual costs incurred, less charges where actual costs exceeded the assessments. Also charged to the reserve for assessment adjustments are determinable costs for financed projects on which work had not been done and on which final disposition is pending. 'These balances may be used for refunding canceled assessments. Funds in the amount of $3,500,000 were made avialable from the sale of General Obligation Improvement Bonds in 1966. A portion of the proceeds were used to redeem $2,600,000 of Temporary Improvement Bonds dated December 1, 1964 and 1965 and maturing December 1, 1966. The balance of the proceeds ($900,000) were used to finance current construction.. The bonds will be redeemed with funds made available from special assessments. WATERWORKS FUND Reference is made to detail schedules elsewhere in this report as to operations of this fund. Such details appear on pages 67 to 73, inclusive. Net income of the fund amounted to $42,460.73 as compared to net loss of $20,320'.65 In 1965. The principal reasons for this change may be summarized as follows: Increase in income from sales of water, water-meters and other income Increase in income on investments Decrease in interest on bonded debt Less: Increase in depreciation Increase in other expenses $81,138.19 2,169.35 1.050.'71 $84,358.25 $12,493.28 9.083.59 $21,576.87 INCREASE IN NET INCOME $62,781.38 SEWER RENTAL FUND Reference is made to detail schedules elsewhere in this report as to operations of this fund. Such details appear on pages 74 to 78, inclusive. LIQUOR DISPENSARY FUND Reference is made to detail schedules elsewhere in this report as to operations of this fund. Such details appear on pages 79 to 84, inclusive. Net income of the fund amounted to $287,916.57 for the year. Of this amount, $220,000.00 was transferred to other funds of the Village by action of the Village Council. In connection with the sale of Golf Course Bonds of 1963 and Recreation Center Bonds of 1965 the net revenues of the Liquor Dispensary Fund are pledged to secure the payment of said bonds and interest thereon. 0 SECURITY.FOR DEPOSITS Reference is made to schedule on page 86 of this report showing details of deposits of the Village and securities pledged as collateral thereto at December 31, 1966. Security for deposits at the First.Edina National Bank were inadequate with re- spect to dompliance with the provisions of M. S. A. Section 118.01 which prohibit the.Treasurer from maintaining a deposit in excess of ninety per cent of the market value of the collateral pledged exclusive of amounts covered by federal deposit insurance. Balance on °deposit Security for deposit: Collateral at 90% of market Federal deposit insurance First Edina National Bank $501,437.03 $439,520.00 .15,000.00 $454,520.00 BONDING REQUIREMENTS. All Village employees who are required to be bonded by Minnesota statutes were so bonded. PUBLICATION OF FINANCIAL STATEMENTS A detailed financial statement was not prepared and published or posted as required by M. S. A. Section 412.281. i Minneapolis, Minnesota April 28, 1967 0 Total General ASSETS Cash: Current funds 626,442.15 181,466.96. Appropriated 22,091.75 $ 648,533.90 $ 181,466.96 Investments: United States Treasury notes and bills and United States Government Agency securities at face value or cost $ 2,541,651.80 $ .287,107.50 Village of Edina bonds — at face value or cost 231,173.20 Land'investments — at cost — $ 2,772,825.00 $. 287,107:50 Amount segregated and shown below 70,384.50 $ 2,702,440.50 $ 287,-107.50 Receivables: Taxes and special assessments: Current $ 1,533,194.10 $ 32,785.15 Delinquent 330,597.86 48,666.59 Deferred 7,695,226.50 44,342.63 Customers 73,619.70 Due from other funds 414,831.47 Miscellaneous receivables 20,070.94 206070.94 $10,067,540.57 $ 145,865.31 Less allowance for delinquent taxes 788,557.26 48,666.59 $ 9,278,983.31 $ 97,198.72 Inventories 304,889.79 10,000.00 Prepaid expenses 31,469.17 Segregated investments for reserve for debt retirement 70,384.50 Construction in progress 2,775,464.29 Fixed assets 9,588,657.17 1,904,213.87 Unallocated construction costs 90;844.77 $25,491,667.40 $2,479,987.05 # Indicates ied figure. $17,000.00 17,000.00 - - $17,000.00 $ - $ - $22,846.34 600.00 . i 456,317.84 $ 47,851 25 $ 1Q,000.00 I i $ 47,851.25 $ _:. $ 10,000.00 I $ 47,851.25 $ - $ 10,000.00 i $ 51,800.00 -748.40 $ 218.08 ' FUND BALANCE SHEETS 823,000.00 � I II j 15,715.50 VILLAGE OF EDINA $ 11,827.32 $891,263.90 . i December 31, 1966- . $ - $ 218.08. $ 11,827.32 $846,775,50 - ...Swimming Recreation Park Park Poor Park Pool Golf .Course Center Sinkinq I Construction $ 5,846.34 30.,732.97 3,538.91# :. 4,001.16'. 47,002.04 74,842.22 43,544.40 5j846-34, 30,732.97' 39538.91 *. .' 49001.16 47,002.04 $:.74,842.22 43,544.40 I $17,000.00 17,000.00 - - $17,000.00 $ - $ - $22,846.34 600.00 . i 456,317.84 $ 47,851 25 $ 1Q,000.00 I i $ 47,851.25 $ _:. $ 10,000.00 I $ 47,851.25 $ - $ 10,000.00 i $ 51,800.00 -748.40 $ 218.08 $ 4,965.00 823,000.00 � 6,862.32 15,715.50 — $, , - ` 218.08 $ 11,827.32 $891,263.90 . 44,488.40 $ - $ 218.08. $ 11,827.32 $846,775,50 - 1,779.40 208.00 1,558.35 212,325.98 $487,650.81 $208,787.07 i 296.00 i 977,375.23 555,328.84 I $1,0299949.72 $617,495.95 $931,617.72 I. :I .Improvement $ 24,642.37 ,$. 24,642.37 $ 50,000.00 $ 2,000,000.00 16,000.00 161,000.00 6.503.00, 66,000.00 2,167,503.00 $ 66,000.00 $ 2,1679503.00 $ 65,000.00 $ 65,000.00 65,000.00 643,074.16 527,901.81 $1,345,520-37 $ 1,448,608.95 281,182.87 618270883.87 109,105.50 8,666,781.19 695.402.27 $ 7,971,378.92 25,555.69 2,132,094.13 90,844.77 $12,412,018.88 Waterworks I $ 4'1,0.98.96 22 091-75 63,190.71 $ 102,338.80 $- .102,338.80 70.384.50 $ •31,954.30 $ 47,100.40 26,606.15 $ 73,706.55 $ 73,706.55 15,054.40. 449.88 70,384.50 4,863,450.00 $5,111'8,190.34 ` Sewer Liquor Rental Dispensary $ 7,102.29 $169,701.35 7,102.29 $169,701.35 $ 471851.25 $ 47,851.25 $ 47,851.25 $ 21,336.22 $ 21,336.22 $ 21,336.22 24.00' 13,196.77 $ 89,510.53 $ 27,173.20` $ 27,173.20 $ 27,173.20 $191,542.00 $191,542.00 $191,542.00 277,455.99 3,673.25 78,546.83 $748,092.62 -10- LIABILITIES, RESERVES AND SURPLUS Due to other funds Accounts payable Salaries and wages Due'to Hennepin County Interest payable Deferred income Construction and other deposits Edina Firemen's Relief Association Construction contracts Minneapolis —Saint Paul Sanitary District Unexpended contributions Reserve for future bond interest Bonds payable Reserve for assessment adjustments Reserve for construction Surplus: Invested in fixed assets Appropriated: For imprest cash For debt service For commitments Unappropriated (deficit) Total $ 414,831.47 203,174.99 .8,516-30 10,429.95 35,739.35 8,543.00 141,198.52 16,511.96 320,031.12 430.01 22,156.85 251,804.38 12,822,000.00 51,823.00 192,986.83 7,992,218.42 550.00 181,276.25 167,100.00 2,650,285.00 $25,491,667.40 General 13,048.02 62,710.17 2,482.88 1,728.68 51,158.26 16,511.96 78,000.00 1,904,213.87 550.00 167,100.00 182,483.21 $2,479,987.05 FUND BALANCE SHEETS (Cont'd) Park .. Construction $ 6,862.32 2,447.50 165,234.58 456,317.84 2129325.98 12,191.16 'i 1,170,975.97 . - 1 ,52,300.00 369500.00 22,646.86. 4,854.43 ( 19.272.69) ( _79,766.01) ( 214.51) 35,667.72 $229846.34 $4879650.81 $208,787.07.. $1,029i%9.72 $617,495.95 $931,617.72 $1,3459520.37 - I i i i Improvement. $ 22,663.63 2,027.69 10,429.95 90,040.26 320,031.12 430.01 W"rIW.T.ZiW� $ Sewer Liquor Rental. Dispensary 1,682:.44 $103,340'37 $ 20,428.37 214.28 167.43 39057.35 .,479.00 10,085,000.00 Swimming , Recreation Park Poor Park Pool Golf-Course Center Sinking 4,144,450.00 15,715.50 256,542.00. $100,000.00 $ 199.48 $ 2,079.81 18.28 825.25 5,415.63 $5911'91190.34 $ 899510.53 $748,092.62 i .I I i 2,241.88 48.48 364.00 4,696.67 $ 24,835.00 8,543.00 22,156.85 181,115.00 :800,000.00 450,000.00 690,000.00 Park .. Construction $ 6,862.32 2,447.50 165,234.58 456,317.84 2129325.98 12,191.16 'i 1,170,975.97 . - 1 ,52,300.00 369500.00 22,646.86. 4,854.43 ( 19.272.69) ( _79,766.01) ( 214.51) 35,667.72 $229846.34 $4879650.81 $208,787.07.. $1,029i%9.72 $617,495.95 $931,617.72 $1,3459520.37 - I i i i Improvement. $ 22,663.63 2,027.69 10,429.95 90,040.26 320,031.12 430.01 W"rIW.T.ZiW� $ Sewer Liquor Rental. Dispensary 1,682:.44 $103,340'37 $ 20,428.37 214.28 167.43 39057.35 .,479.00 10,085,000.00 71y,000.00 , 51,823.00 27,752.25 4,144,450.00 139196.77 78,546.83 92,476.25 1,731,131.59 1 888.7 ( 27.194.04) 646.060.07 I' $12,412,018.88 $5911'91190.34 $ 899510.53 $748,092.62 i .I I i —11— NOTE TO FINANCIAL STATEMENTS VILLAGE OF EDINA December 31, 1966 Note A — ANNEXATION OF VILLAGE OF MORNINGSIDE On September 1, 1966 the Village of Morningside was annexed by the Village of Edina. The Village of Edina carried forward the September 1, 1966 balances of the various funds of the Village of Morningside and kept a separate record of the receipts and disbursements from the Morningside area for the period from September 1, 1966 to December 31, 1966 in the General Fund of the - Village of Edina. The excess of the December 31, 1966 cash balances and special assessments receivable of the Morningside funds over their bonds payable and other liabilities at that date has been designated for improvements in the Morningside area and has been included in the liabilities of the General Fund. The amount designated for Morningside improve- ments consists of the followings Cash balances 749340.94 Special assessments and sundry receivables 61,872.89 $136,213.83 Less bonds payable ($78,000.00) and other liabilities 90,435.49 Amount designated $ 45,778.34 The Morningside building and equipment are included in the fixed assets of the General Fund at December 31, 1966 at amounts. assigned by the Village of Edina. as follows: Building $ 20,000.00 Equipment 8,050.00 $ 28,050.00 The increases in taxable valuations of the Village of Edina resulting from the annexation of the Village of Morningside are as follows: Real.estate Personal property $1,2569445 76,041 $1,332,486 —12— GENERAL FUND BALANCE SHEET VILLAGE OF EDINA December 31, 1966 ASSETS Cash: Demand deposits Time deposits Working funds Investments: United States Treasury bills — at cost Accrued interest Receivables: Accounts receivable Special assessments — current Special assessments — deferred Supply inventory — estimated Taxes receivable — delinquent Less allowance for delinquent taxes Fixed assets $ 145,916.96 35,000.00 $ 180,916.96 550.00 $ 181,466.96 $ 282,810.00 4,297.50 $ 20,070.94 32,785.15 44,342.63 77,127.78 48,666.59 48,666.59 LIABILITIES AND SURPLUS Due to other funds Accounts payable: Trade accounts $ 62,710.17 Accrued payroll 2,482.88 Edina Firemen's Relief Association 16,511.96 Designated 'for Morningside Improvements — Note A 45,778.34 Sundry deposits. 5,379.92 Bonds payable — Note A $ 78,000.00 Accrued interest payable 1,728.68 Appropriated surplus: Invested 'in fixed assets $1,805,300.76 Annexed from- Morningside — invested in fixed assets - Note A 28,050.00 Contributed — invested in fixed assets 70,863.11 $1,904,213.87 Reserve for commitments 167,100.00 For imprest cash 550.00 Surplus — unappropriated See note to financial statements. 287,107.50 97,198.72 10,000.00 1,904,213.87 $2;479,987.05 $ 13,048.02 132,863.27 79,728.68 2,071,863.87 182,483.21 $2,479,987.05 —13— GENERAL FUND STATEMENT OF SURPLUS VILLAGE OF EDINA Year Ended December 31, 1966 APPROPRIATED Balance at January 1, 1966 Additions (deductions): Transfers from unappropriated surplus: Invested in Total Fixed Assets $1,950,051.02 $1,775,237.91 For fixed assets — net 58,112.85 30,062.85 For commitments 63.700.00 Balance at December 31, 1966 ;,$2,071,863.87 $1,805,300.76 UNAPPROPRIATED Balance at January 1, 1966 Additions: Revenue — see separate schedule Installment on voting machines Less: Expenditures — see separate schedule Deduction:: General Fund share of construction costs See note to financial statements. Contributed by For Imprest For Contributed Annexation Cash Commitments $70,863.11 $ — $ 550.00 $103,400.00 28,050.00 63,700.00 $70,863-11 $ 28,05.0-00 $ 550..00 $167,100. "00 $143,432.67 I $1,546,084.88 1,624.00 - $1,547,708.88 I 1.498.137.00 49.571.88 i $193,004.55 10,521.34 Balance at December 31, 1966 $182,483.21 GENERAL FUND ANALYSIS OF CHANGE IN CASH BALANCE VILLAGE OF EDINA Year Ended December 31, 1966 Balance at January 1, 1966 Additions: Receipts — per separate schedule Sale of investments Collection of amounts due others: Waterworks Fund Edina Firemen's Relief Association Other Collection made on accruals at December 31, 1965 Payments received from Independent School District No. 273 for gasoline purchases Increase in sundry deposits Deductions: Disbursements — per separate schedule Gasoline purchased for Independent - School District No. 273 Charges to accounts receivable and other funds Payment on accruals at December 31, 1965: Accounts payable Accrued payroll Edina Firemen's Relief Association Due to other funds Purchase of investments Village share of construction costs charged directly to surplus Morningside accounts per separate schedule: Cash balances at date of annexation — September 1, 1966: Demand deposit Time deposits $ 111,836.52 $1,522,418.90 227,028.55 $11,295.97 16,861.96 245.55 28,403.48 52,437.16 14,748.49 740.93 1,845,777.51 $19957,614.03 $1,395,276.00 13, 301:'57 5,057.90' $57,180.88 1,739.79 14,453.59 10,696.94 84,071.20 342,810.00 Revenue — September 1, 1966 to December 31, 1966 $ 54,041.38 Less accruals included therein 1,026.00 $53,015.38 10,521.34 1,851,038.01 $ 106,576.02 $ 17,516.07 35,000.00 $ 52,516.07 Expenditures — September 1, 1966 . ', to:-December 34 -1966 $ 43,626.00 I Less accruals included therein 12,435.49 31,190.51 21,824.87 74,340.94 Balance at December 31; 1966 $, 180;916.96 Summary: Demand deposits Time deposits $145,916.96 35.000.00 TOTAL $180,916.96 See note to financial statements. -15- GENERAL FUND REVENUE VILLAGE OF EDINA Year Ended December 31, 1966 Real and personal property taxes Other taxes Bicycle licenses, Beer and liquor licenses Cigarette licenses Dog and impounding fees Food and soft drinks Gas pump.-licenses, Bowling," taxi, pinball, etc. Plumbing licenses Water softener installation licenses Scavenger-and garbage collectors Building permits Cesspool .and sewer permits Plumbing permits Sign permits Other permits and fees Heating and ventilating Street opening fees Planning fees Engineering, clerical and searches Police service Equipment rental Municipal court fines Income on investments State apportionments - highway State apportionments - liquor and ocigarettes. Contribution from active funds Charges to other funds Sale of fixed assets Discounts earned Other revenue Transfer - reserve for encumbrances Receipts Accruals 932,950.00 34,447.00 2,118.00 .1,395.00 1,130.00 •5,912.00 4,775.00 2,860.00 175.00 150.00 678.00 40,491.00 2,612.00 13,926.00 3,514.00 799.00 4,116.00 1,980.00 .2,657.00 152,108.00 067.00 504.00 4,732.00 41,639.00 4,687.00 11,566.00 49298.00 38,833.00 110,142.00 70,700.00 14,400.00 2,818.00 1,535.00 81.00 14,421.90 2,467.98 .7,400.00 TOTAL $1,522,418.90 $239665.98 Actual Revenue f -16- Over - Under *. Estimated Estimated Revenues Revenue Revenue $ 932,950.00 934,372.00 19,422.00# 34,447.00 33,600.00 847.00 2,118.00 .2,000.00 118.00 1,395.00 1,570.00 175.00# 19130.00 735.00 395.00 5,912.00 5,400.00 512.00 4,775.00 3,150.00 1,625.00 700.00 700.00# 2,860.00 2,745.00 115.00 175.00 2,525.00 2,350.00# 150.00 150.00 678.00 1405.00 273.00 40,491.00 28;,000.00 12,491.00 2,612.00 3000.00 688.00# 13,926.00 .10,000.00 3,926.00 3,514.00 31400.00 114,00 799.00 799.00 4,116.00 7,000.00 2,884.00# 1,980.00 '350.00 1,630.00 2,657.00 750.00 1,907.00 152,108.00 145,9500.00 6,608.00 7,067.00 10,000.00 2,933.00# 5,236.00 2000.00. 2,736.00 46,326.00 50,000.00 3,674.00# 15,864.00 15,864.00 38,833.00 36j9670.00 2,163.00 110,142.00 112;348.00 2,206.00# 70,700.00 70',700.00 14,400.00 141,400.00 2,818.00 ;500,00 2,318.00 1,616.00 1,616.00, 169889.88 9,9000.00 7,889.88 7,400.00 7400.00 $19,546,084.88 $1,499';020.00 $47,064.88 f -16- GENERAL GOVERNMENT Mayor and Council Planning Administration: .Personal services Contractual services Commodities Fixed charges Finance: Personal services Contractual sorvices Commodities Fixed charges 'Elections Assessing: ,Personal services Contractual.services Commodities Fixed charges Legal - services '.Library GENERAL FUND EXPENDITURES VILLAGE OF EDINA Year Ended December 31, 1966 Disbursements TOTAL GENERAL GOVERNMENT ADMINISTRATION, ENGINEERING AND PUBLIC WORKS Administration: Personal services Contractual services Fixed charges Engineering: Overhead Project engineering General engineering Public works: Supervision and clerical Training Paid leave $ 41,765.00 '1,963.00. 751.00 6,24.0.00 $ 50,719.00 26,175.00 3,241.00 $ 2134209.00 $ 15,300.00 500:00 960.00 $ 16,760.00 $ 25,811.00 83,905.00 17.128.00 $ 126,844.00 $ 45,760.00 702.00 18,158.00 Encumbrances $ 3.00 1,651,.00 $ 244.00 $ 244.00 11.00 $ 17.00 5.00 $ 22.00 9,627.00 116.00 $ 11.,674.00 $. 18.00 $ 18.00 $ 153.00 2;201.00 535.00 $.. 2,889.00 $ 5.00 125.00 Expenditures 10,643.00 14,796.00 $ 43,126.00 7,240.00 61.00 9,180.00 $ 59,607.00 $ 32,964.00 2,587.00 20.00 6,060.00 $ 41,631.00 8,306.00 $ 41,765.00 1,980.00 756.00 6,240.00 $ 50,741.00 35,802.00 3.357.00 $ 224,883.00 $ 15,300.00 518.00 960.00 $ 16,778.00 $ 25,964.00 86,106.00 17,663.00 $ 129,733.00 $ 45,765.00 702.00 18,283.00 Appropriations 10,640.00 13,145.00 $ 43,126.00 ` °6,996.00 460.00 61.00 `9,180.00 $ 59,363.00 $ 32,964.00 $ 2,587.00 20;00 6,060.00 $ 41,631.00 $ �8,295.00 TOTAL GENERAL GOVERNMENT ADMINISTRATION, ENGINEERING AND PUBLIC WORKS Administration: Personal services Contractual services Fixed charges Engineering: Overhead Project engineering General engineering Public works: Supervision and clerical Training Paid leave $ 41,765.00 '1,963.00. 751.00 6,24.0.00 $ 50,719.00 26,175.00 3,241.00 $ 2134209.00 $ 15,300.00 500:00 960.00 $ 16,760.00 $ 25,811.00 83,905.00 17.128.00 $ 126,844.00 $ 45,760.00 702.00 18,158.00 Encumbrances $ 3.00 1,651,.00 $ 244.00 $ 244.00 11.00 $ 17.00 5.00 $ 22.00 9,627.00 116.00 $ 11.,674.00 $. 18.00 $ 18.00 $ 153.00 2;201.00 535.00 $.. 2,889.00 $ 5.00 125.00 Expenditures 10,643.00 14,796.00 $ 43,126.00 7,240.00 61.00 9,180.00 $ 59,607.00 $ 32,964.00 2,587.00 20.00 6,060.00 $ 41,631.00 8,306.00 $ 41,765.00 1,980.00 756.00 6,240.00 $ 50,741.00 35,802.00 3.357.00 $ 224,883.00 $ 15,300.00 518.00 960.00 $ 16,778.00 $ 25,964.00 86,106.00 17,663.00 $ 129,733.00 $ 45,765.00 702.00 18,283.00 Appropriations $ 41,775 00 .2;, 000.00 .760.00 :6,240.00 $ 50,775.00 33:;503.00 3.725.00 $ 221., 407.00 15., 345.00 615.00 960.00 $ :16,,920.00 $ 26,000.00 86;, 400.00 17.700.00 $ 130,100.00 $ 45;800.00 720.00 18.,300.00 i G Unexpended Balance -- 57.00 2,016.00# 34.00 220.00 89.. 00 $ 343.00 $ 6.00 13.00 30.Oo $ 49.00 12.00# $ 10:00 20.00 4.00 $ 34.00 2,299.00# 368.00 $3,476.00# $ 45.00 97.00 $ 142.00 $ 36.00 294.00 37.00 $ 367.00 $ 35.00 18.00 17.00 -17- 1 0;, 700, 00 12 :,780.00 $. 43,160.00 7j, 460.00 150.00 91,.180.00 $ 59;,950.00 $ 32,970.00 2;,600.00 50.00 6,060.00 $ 41;680.00 8', 294.00 $ 41,775 00 .2;, 000.00 .760.00 :6,240.00 $ 50,775.00 33:;503.00 3.725.00 $ 221., 407.00 15., 345.00 615.00 960.00 $ :16,,920.00 $ 26,000.00 86;, 400.00 17.700.00 $ 130,100.00 $ 45;800.00 720.00 18.,300.00 i G Unexpended Balance -- 57.00 2,016.00# 34.00 220.00 89.. 00 $ 343.00 $ 6.00 13.00 30.Oo $ 49.00 12.00# $ 10:00 20.00 4.00 $ 34.00 2,299.00# 368.00 $3,476.00# $ 45.00 97.00 $ 142.00 $ 36.00 294.00 37.00 $ 367.00 $ 35.00 18.00 17.00 -17- GENERAL FUND EXPENDITURES ( Cont'd) ADMINISTRATION, ENGINEERING AND PUBLIC WORKS ( Cont'd) Public works (cont'd): General maintenance: Gravel streets Oiled streets Asphalt streets Concrete streets Street cleaning Renovation Curb and sidewalks Snow and ice removal Street lighting Street name signs Traffic control: Sign maintenance_ Traffic control maintenance Pavement marking Guard rail maintenance Bridges - general maintenance Storm sewer maintenance Temporary drainage and culverts Village properties: Turf care and plantings Tree maintenance Noxious weed control Lake and pond maintenance TOTAL PUBLIC WORKS TOTAL ADMINISTRATION, ENGINEERING AND PUBLIC WORKS PROTECTION OF PERSONS AND PROPERTY Police protection: Personal services Contractual services Commodities Fixed charges Fire protections Personal services Contractual services Commodities Fixed charges Disbursements 31,093.00 2,103.00 30,411.00 1.1-,203.00 $ 7.4.',810.00 27,466.00 47,919.00 ::1,562.00 .44,150.00 .45,078.00 7,355.00 $ , 5,848.00 r6,559.bo ,4.098.00 $ 16,505.00 ,.2,060.00 10,191.00 18,087.00 18., 301.0'0 3,860.00 $ 11,150.00 1,412.00 ~9,533.00 $ 400,199.00 $ 543,803.00 $ 248,66o.00 15,10%.00 ...29711.00 49-,680.00 306,155.00 $ 126,602.00' x2,860.00 ;2,819.00 21.540.00 $ 153,821.00 Encumbrances 596.00 .487.00 401.00 $ 1,484.00 5,224.00 3,345.00 29.00 $ 1,590:00 $ 1,590.00 590.00 12,392.00 $ 15,299.00 ($ 1,354.00) 110._00 254.00 ($ 990.00) $ 134.00 98.00 $ 232.00 Expenditures $ 31,689.00 2,103.00 30,898.00 11.604.00 76,294.00 27,466.00 47,919.00 1,562.00, 49,374.00 48,423.00 7,384.00 $ 5,848.00 - 8,149.00 4.098.00 $ 18;095.00 2,060.00 10,191.00 18,677.00 18,301.00 $ 7,290.00 3,860.00 $ 11,150.00 1,412.00 9,533.00 $ 412.591.00 $ '559,102.00 $ 247,306.00 5,214.00 2,965.00 49,680.00 $,.305,165.00 $ 126,602.00 2.,994.00 2,917.00 21,540.00 154,053.00 i I ,I Appropriations $ 31=;200.00 2;200.00 31,000.00 $ 76;100.00 27;500.00 48;000.00 1,600.00 49;400.00 49,480.00 7;400.00 5;900.00 8;400.00 4.160.00 $ 189460.00 2,060.00 10;200.00 15200.00 14,.45.00 $ 79300.00 3- :900.00 $: 11;200.00 1,!450.00 9.600.00 $ 407' 315.00 $ 554,335,00 $ 248;:700.00 5,1250.00, 3;000.00 49.680.00 $ 306?630.00 $ 126;626.00 3;000.00 2,950.00 21.;1540.00 $ 154,1116.00 r Unexpended Balance $ 489.00# 97.00 102.00 96.00 194.00# 34.00 81.00 38.00 26.00 1,057.00 16.00 $ 52.00 251.00 62.00 $ 365.00 9.00 3;477.00# 3,456.00* $ 10.00 40.00 $ 50.00 38.00 67.00 276.00# $4,767.00# $1,394.00 36.00 35.00 $1,465.00 $ 24.00 6.00 33.00 $ 63.00 -18- GENERAL FUND EXPENDITURES (Cont'd) PROTECTION OF PERSONS AND PROPERTY (Cont'd) Civilian defense Public health: Personal services Contractual services Commodities Fixed charges Animal control Inspections: Personal services Contractual services Commodities Fixed charges TOTAL PROTECTION OF PERSONS AND PROPERTY NON- DEPARTMENTAL Contingencies Settlement of suits Special assessments on Village park property TOTAL NON- DEPARTMENTAL CENTRAL SERVICES Disbursements ',2,328.00 $ 13,153.00 '11,106.00 ;.1,101.00 X2,040.00 $ 17,400.00 1:2,059.00 $ 2-8,691.00 :1,937.00 693.00 ;4,740.00 $ 36,061.00 $ 527,824.00 $ 9,261, oo 23.00 28,500.00 $ 3:1,784.00 See separate schedule attached 20,694.00 TOTAL OPERATING EXPENSES $19337,314.00 CAPITAL OUTLAY Administration - general government Finance Assessing Administration - Engineering and Public Works Engineering Public works Police Fire Inspections Contingencies Special assessment on Village property Unallocated capital outlay Architect fees - library TOTAL CAPITAL OUTLAY $ 203.00 647.00 J,304.00 16,734.00 16,958.00 i6,361.0o :2,700.00 440.00 <1,536.00 ::2,878.00 ..5,301.00 3.900 - 00 $ 579962.00 Encumbrances $ 40.00 $ 52.00 14.00 $ 66:00 1,067.00 $ 115.00 77.00 $ 192.00 $ '6Q7.. 00 3,392.00 $ 30,972.00 $ '424.00 365.00 $ 789.00 Expenditures $ 2,368.00 $ 13,153.00 1,158.00 1,115.00 2.040.00 $ 17,466.00 13,126.00 $ 289691.00 2,052.00 770.00 4,740.00 $ 36,253.00 $ 528,431.00 $ 3,261.00 23.00 28,500.00 $ 31,784.00 24,086.00 $1,368,286.00 $ 203.00 647.00 1,304.00 5,734.00 17,382.00 16,361.00 Z,700.00 440.00 1,901.00 2,878.00 5,301.00 3,900.00 $ 58,751.00 Appro riations $ 2,416.00 $ ,139200.00 '.1,178.00 1,200.00 2.040.00 $ 17.;618.00 13,254.00 $ '28-9770.00 ;2,100.00 850.00 4,740-00 6` 60.00 $ '.530,494.00 $ 3,800.00 1 100.00 28,500.00 $ 32,400.00 26 600.00 1,3.65�,236.0o i $ 500.00 650.00 :1', 400.00 200.00 -6,800.00 17,; 400.00 .16;, 427.00 2,810.00 490.00 1397.00 2,900.00 6,810.00 1 00.00 62!4'684-. 00 Unexpended Balance 48:00 $ 47.00 20.00 85.00 $ 152.00 128.00 $ 79.00 48.00 80.00 207.001. $2,063.00 $ 539.00 ,77.00 $ 616.00 2,514.00 $3,050.00* $ 297.00 3.00 96.00 200.00 1,066.00 18.00 66.00 110.00 50.00 496.00 22.00 1,509.00 $3,933.00 -19- GENERAL FUND EXPENDITURES (Cont'd) Disbursements Encumbrances RESERVE FOR COMMITMENTS Planning 2,000.00 Finance 10,000.00 Public works 6,000.00 Fire protection 5,000.00 Unallocated capital outlay 2,000:00 Capital improvements 46,100.00 TOTAL RESERVE FOR COMMITMENTS $ - 71,100.00 TOTAL $1,395,276.00 $102,86i..00 # Indicates red figure. i .20- Unexpended Expenditures Appropriations Balance $ 2;000.00 $ 2,000.00 $ — 10,000.00 10,000.00 — 6,000.00 6,000.00 — 5,000.00 5,000.00 — 20000.00 2,000.00 - 46,100.00 46.100.00 - 9 71.100.00 $ 71;100.00 $ - $1,498,137.00 $1,499,020.00 883.00 i .20- General: Contractual services Commodities Village Hall: Personal services Contractual services Commodities Central services Garage Equipment operation: Personal services Contractual services Commodities Fixed charges Gasoline and fuel oil Tires and tubes Lubricants Parts and accessories GENERAL FUND CENTRAL SERVICES VILLAGE OF EDINA Year Ended December 31, 1966 TOTAL GENERAL TOTAL VILLAGE HALL TOTAL EQUIPMENT OPERATION Less allocations to other departments or funds TOTAL * Indicates red figure. Disbursements $124,003.00 5,339.00 $129,342.00 $ 8,781.00 9,607.00 2,943.00 780.00 $ 22,111.00 17,109.00 $ 35,006.00 18,904.00 11,164.00 14,724.00 20,433.00 4,304.00 2,827.00 28,342-00 $135,704.00 $304,266.00 283,572.00 $ 209694.00 I I Encumbrances ! Expenditures I ' Appropriations 'i $7,414.00# `$116,589.00 $120,014.00 1,106.00 6,445.00 6,4.50.00 $6,308.00# $123,034.00 $126,464.00 $ 8,781.00 $.,8,$00.00 $ 794.00 10,401.00 10,450.00 16.00 2,959.00 2,550.00 780.00 780.00 $ 810.00 $22,921:00 $ 22,580.00 i 1,295.00 18,404.00 17,844.00 i $ 237.00 j $ 35,243.00 $35,300.00 4,495.00 23,399.00 23,450.00 860.00 12,024.00 12,050.00 149724.00 d 14,724000 259.00# .20,174.00 209500.00 441.00 4,745.00 :4,800.00 2,827.00 29850.00 1,821.00 30,163.00 29,610.00 7 .00 $143,299.00 $143,284.00 $3,392000 $3079658.00 $310,172.00 283,572.00 283,572.00 $3092.00 ! I i $ 249086.00' $ 26,600.00 Unexpended Balance $3,425.00 5.00 3,430.00 $ 19.00 49.00 409.00# $ 341.00# 560.00# $ 57.00 51.00 26.00 326.00 55.00 23.00 553.00# 15-00* $2,514.00 $2,514.00 —21— GENERAL FUND FIXED ASSETS VILLAGE OF EDINA Year Ended December 31, 1966 Balance Balance January 1, December 31, 1966 Additions Deductions 1966 Land $ 259,316.24 5,500.00., 253,816.24 Land improvements 1339774.38 2,878.00 136,652.38 Buildings 6849060.67 22,497.00 706,557.67 Furniture and fixtures 53,992.59 3,970.00 565.00 57,397.59 Equipment: Highway 367,397.34 30,060.00 13,570.17 383,887.17 Police 37,796.87 20,867.00 121517.05 46,146.82 Fire 86,741.05 2,700.00 899441.05 Election 96,257.93 96;257:93 Engineering 28,627.79 6,394.00 3,500.93 31,520.86 Traffic signals 64,735.18 6.4,735.18 Executive 1,834.15 1,834.15 Miscellaneous 31,566.83 4,400.00 35.966.83 TOTAL $1,846,lol.02 $93,766.00 $35,653.15 $1,904,2j3.87 GENERAL FUND STATEMENT OF REVENUE AND EXPENDITURES ( MORNINGSIDE FUNDS) VILLAGE OF EDINA For Period September 1, 1966 to December 31, 1966 Summary of Morningside Funds at December 31, 1966: Fund balances as above $ 62,931.45 Special assessments: Current $16,504.26 Deferred 44,342.63 60,846.89 $123,778.34 Less bonds payable 78,000.00 AVAILABLE FOR MORNINGSIDE IMPROVEMENTS $ 45,778.34 ( ) Indicates negative amount. See note to financial statements. -23- Balance Balance September December • Fund 1, 1966 Revenue Expenditures 31, 1966 General $ 2,203.03 $24,902.69 $ 21,443.13 $ 5,662.59 Sewer 10,197.34 4,855.48 3,694.90 11,357.92• Water 5,399.75 7,539.75 7,892.61 5,046.89 Poor 4,093.21 44.62 10.00 4,127.83 Garbage ( 1,295.94) 5,594.25 3,975.24 323.07 Equipment Replacement 2,555.39 29.74 2,585.1 -3 Special Assessment: Watermain No: 6" 3,033.34 .424.59 .2,069.17 1,388.76 Sewer main No. 7 3,759.32 530.11 1,117.58 3,171.85 Sewer main No. 8 6,153.60 1,436.73 170.00 79420.33 Water and sewer improvement No. 9 5,183.19 1,515.34 133.33 6,565.20 ` Sewer improvement No. 11 and curb and gutter improvement No.'112 6,984.70 2,029.79 212.50 8,801.99 - Street improvement No. 14 5,038.17 4,990.60 1,39535 8,633.42 General ( 789.03) 147.69 1,512.19 ( 2,153.53) $52,516.07 $54,041-38 $ 43,626.00 $62,931.45 Balance at December 31, 1966 represented by:( A- Cash.: Demand deposit $ 39,340.94 Time deposit 35,000.00 $74,340.94 Sundry receivables 1,026.00 .$75,366.94 Less accounts payable and accrued interest 12,435.49 $62,931045 Summary of Morningside Funds at December 31, 1966: Fund balances as above $ 62,931.45 Special assessments: Current $16,504.26 Deferred 44,342.63 60,846.89 $123,778.34 Less bonds payable 78,000.00 AVAILABLE FOR MORNINGSIDE IMPROVEMENTS $ 45,778.34 ( ) Indicates negative amount. See note to financial statements. -23- Annual maturities and interest dates Interest rates GENERAL FUND BONDS PAYABLE VILLAGE OF EDINA December 31, 1966 Sanitary Sewer Note A — Supplemental coupon of 1.60% for period August 1, 1966 to May 1, 1967 applies to all bonds except No. 1 and 2. See note to financial statements. i - I ;f Sanitary Sewer Improvement No. 11 and Curb and Gutter Improvement No. 12 February 1 and August 1 3.4% $ 3,000.00 3,000.00 3,000.00 3,000.00 3,000.00 V17,VVV.VV Street Improvement No. 14 `3.9% (A) $ 7,000.00 5,000.00 5,000.00 5,000.00 5,000.00 5,000.00 5,000.00 $37,000:00 —24— Watermain Sanitary Sewer Sanitary Sewer and Watermain Improvement'.. Improvement Improvement Improvement Year Total! No. 6 No. 7 No. 8 No. 9 June 1 and_ June l and February 1 and February 1 and December,.1 December 1 August 1 August l 2 1/2% 4% 3.4% 4% 1967 $13,000.00 $2,000.00 $2,000.00 4,000.00 $2,000.00 1968 11,000.00 I 2,000.00 41000.00 .' 2,000.00 1969 16,000.00 4,000:00 2,000.00 1970 10,000:00 2,000.00 1971 8,000.00 1972 5,000.00 I 1973 5,000.00 1974 5,000.00 1975 5.000.00 $78,000.00 $2,000.00 $4,000.00 i C $12,000.00 $8,000.00 Note A — Supplemental coupon of 1.60% for period August 1, 1966 to May 1, 1967 applies to all bonds except No. 1 and 2. See note to financial statements. i - I ;f Sanitary Sewer Improvement No. 11 and Curb and Gutter Improvement No. 12 February 1 and August 1 3.4% $ 3,000.00 3,000.00 3,000.00 3,000.00 3,000.00 V17,VVV.VV Street Improvement No. 14 `3.9% (A) $ 7,000.00 5,000.00 5,000.00 5,000.00 5,000.00 5,000.00 5,000.00 $37,000:00 —24— POOR FUND BALANCE SHEET VILLAGE OF EDINA December 31, 1966 ASSETS "'Cash on deposit Investments - at face value: Village of Edina — 2.7% Improvement Bonds of 1958 Village of Edina — 2.5% Waterworks Revenue Bonds of 1955 LIABILITIES AND SURPLUS Accounts payable Surplus — unappropriated $ 5,846,34 $ 5,000.00 12.000.00 17.000.00 $22,846.34 $ 199.48 22,646.86 $22,846.34 —25— Balance at January 1, 1966 Additions:. Net earnings for year POOR FUND STATEMENT OF SURPLUS — UNAPPROPRIATED VILLAGE OF EDINA Year Ended December 31, 1966 Balance at December 31, 1966 STATEMENT.OF REVENUES AND. EXPENDITURES Revenue receipts and accruals: Tax settlements Relief "grants — State of Minnesota Income on investments Disbursements and accruals Suburban Hennepin County Relief Board: Relief orders Administration Rural Hennepin County Nursing Committee Professional services NET INCOME Year Ended 1966 $12,434.74 35.00) 933.08 $13,332.82 $ 2,669.33 1,049.08 9,355.02 100.00 $139173.43 $ 159.39 December 31 1965 $12,130.13 .67.49 373.00 $12,570.62 $ - 2,338.63 519.96 7,552.78 175.00 $10,586.37 $ 1,984.25 $22,487°47 159.39 $22,646.86 Increase Decrease* $ 304.61 102.49* 560.08 $ 762.20 $ - 330.70 529.12 1,802.24 75.00# $ 2,587.06 $ 1,824.86* W-41 POOR FUND ANALYSIS OF CHANGE IN CASH BALANCE VILLAGE OF EDINA Year Ended December 31, 1966 3a-lance at January 1, 1966 Additions: Tax settlements_ received:. March 1966. $ 725.25 June 1966 6,046.21 November 1966 5,663.20 $129434.74 Sale of investments 11,000.00 Income on investments 933.00 Increase in accounts payable 27.20 Deductions: Payment to Suburban Hennepin County Relief Board: Relief orders $2,669.33 Administration 1.049.00 $ 3,710.41 Rural Hennepin County Nursing Committee 9,355.02 Professional service 100.00 Purchase of investments 8.000.00 $ 2,624.75 24.395.02 $27,019.77 21.173.43 Balance at December 319 1966 $ 59046.34 —27- PARK FUND BALANCE SHEET VILLAGE OF EDINA December 31, 1966 ASSETS Cash: Demand deposits Receivables: Taxes receivable - delinquent Less allowance for delinquent taxes Inventory of supplies — estimated Fixed assets $ 1,428.81 1,1+28.81 $ 30,732.97 600.00 456,317.84 $4879650.81 LIABILITIES AND SURPLUS Liabilities: Trade accounts payable 29079.81 Accrued'salaries and wages 2,241.88 Unexpended contributions for specific purposes: Landscaping buffer strip west of library 207.53 Cascade pumping 3.97 Dwight Williams Memorial Park 491.77 Wooddale Park - improvements and recreation program 1,416.31 Cornelia Lake Park — improvement 275.00 Normandale Park — improvement 318.69 Park District No. 2 6,185.00 Park District No. 3 2,150.00 Park District No. 4 3,400.00 Park District No. 5 500.00 Figure skating and skiing instructors' salaries 6,138.50 Hockey equipment 600.00 Edina Swim Club 146.47 Other 323.61 229156.85 Appropriated surplus: Invested in fixed assets $198,250.38 Contributed: Property and special assessment paid by General Fund $247,508.80 Property donated by others 10.558.66 258,067.46 4569317.84 Surplus — unappropriated 49854.43 $4879650.81 —28— PARK FUND STATEMENT OF UNAPPROPRIATED SURPLUS. VILLAGE OF EDINA Year Ended December 31, 1966 Balance at January 1, 1966 Additions: Revenue for year (see separate schedule for details) Less amount transferred to revenue included in the above Deductions: Expenditures for year'.'(see separate schedule for details) $162,663.76 1,000.00 $ 6,976.67 161,663.76 $168,640.43 163,786.00 Balance at December 31, 1966 $ 4,854.43 ANALYSIS OF SURPLUS INVESTED IN FIXED ASSETS —29— Contributed By General .Fund by Direct Payment of Investment Special in Fixed Combined Assessments By Others Assets Balance at January 1, 1966 $420,320.84 $219,008.80 $ 10,558.66 $190,753.38 Additions for the year: From unappropriated surplus 79.497.00 79497.00 Special assessments paid by General Fund 28,500.00 28,500.00 Balance at December 31, 1966 $4569317.84 $2479508.80 $ 10,558.66 $198,250.38 —29— PARK FUND ANALYSIS OF CHANGE IN CASH BALANCE VILLAGE OF EDINA Year Ended December 31, 1966 Balance at January 1, 1966 Additions: Receipts for year (see separate schedule for details) Regist'ra'tion fees — figure skating and skiing Sale of investments Dedicated funds: Improvement $ 170.61 Miscellaneous 600.00 Deductions: Disbursements for year (see separate schedule for details) Expenses — figure skating and skiing Payment on accruals at December 31, 1965: Trade accounts .Accrued salaries and wage's Due to General Fund Payment from dedicated fund $161,664.45 16,165.45 30,000.00 770.61 $159,465.00 17,523.27 $2,447.97 1,065.72 10.12 3,523.81 500.00 Balance at December 31, 1966 $ 3,144.54 -208,600.51 $211,745.05 181,012.08 $ 30,732.97 -30- PARK FUND REVENUE AND EXPENDITURES VILLAGE OF EDINA Year Ended December 31, 1966 REVENUE Real and personal property taxes Registration fees Transfer from active funds Transfer from unappropriated surplus Other revenue EXPENDITURES Administration: Personal services Contractual services Commodities Central services Training Paid leave Capital outlay Recreation: Baseball and softball Skating and hockey Tennis instruction Playgrounds Swimming instruction Special activities Maintenance: :Mowing Special turf care Planting and trees Litter removal Parking areas Building and equipment Skating rinks ( ) Indicates red.;figure TOTAL REVENUE TOTAL ADMINISTRATION TOTAL RECREATION TOTAL MAINTENANCE TOTAL EXPENDITURES Receipts $ 75,307.00 20,7.73.00 64,300.00 1,284.45 $161,664-45 Disbursements $ 23,213.00 1;,175.00 28.00 13,140.00 49.00 5,078.00 $ 429683.00 7,497.00 $ 3.,229.00 3,697.00 1,208.00 11', 343.00 .13,597.00 3,581.00 $ 36:,655.00 $ .11:_,180.00 14,567.00 4,102.00 4,770.00 4,213.00 12`,971.00 20,827.00 $ 72.,630.00 $159.,465.00 Accruals $1,000.00 (. . .69) $ 999.31 Encumbrances i, I 1 $2,740.00 :10.00 48.00 $2;798.00 $ 696.00 827.00 $1.523.0 $4,321.00 Revenue $ 75,307.00 20,773.00 64,300.00 1,000.00 1.283.76 $162,663.76 ExDenditures $ 23,213.00 1,175.00 28.00 13,140.00 49.00 5,078.00 42,683.00 7,497.00 $ 3,229.00 6,437.00 1,208.00 11,353.00 13,597.00 3,629.00 $ 39,453.00 $ 11,180.00 14,567.00 4,102.00 4,770.00 4,213.00 13,667.00 21,654.00 $ 74,153:00 $163,786.00 Estimated Revenue $'75,300-00 22,000.00 64,300.00 1,000.00 750.00 $163,350.00 ADDroDtiations $.23,250.00 1,336.00 125.00 13,140.00 200.00 5.,1 32.00 $'43,183.00 8,250'.00 $ 3,625.00 6,600.00 1,225.00 119750-00 13,675.00 4'.200.00 $ 41,075.00 -$ X11,224.00 14,62$.00 4,160.00 4,$60.00 4,250.00 13,764.00 17,956.00 $,.70,842.00 " $1639350.00 Actual Revenue Over - Under* Estimated Revenue $ 7.00 1,227:00# 533.76 $ 686.24# Unexpended Balance $ 37.00 161.00 97.00 151.00 54.00 $ 500.00 753.00 $ 396.00 163.00 17.00 397.00 78.00 571.00 $1,622.00 $ 44.00 61.00 58.00 90.00 37.00 97.00. ( 3,698.00)- ( 311.00) ($ 436.00) -31- PARK FUND FIXED ASSETS VILLAGE OF EDINA Year Ended December 31, 1966 TOTAL $420,320.84 $35,997.00 $456,317.84 —32— Balance Balance January 1, December 31, 1966 Additions 1966 Land $ 90006.64 90,806.64 Skating rinks 5,.812.03 5,812.03 Land improvements 236,129.25 $28,500.00 264,629.25 Building 4,042.32 4,042.32 Park equipment 45,771.02 .903.00 46,674.02 Furniture, fixtures and equipment 2,047.78 177.00 2,224.78 Trucks, automobile and tractors 25,165.29 5,184.00 30'9348.29 Miscellaneous 4,043.32 1,233.00 5,276.32 $413,817.65 $35,997.00 $449,814:65 Construction in progress: 52nd and Arden 131.26 131.26 50th and Wooddale 2,324.85 2,324:85 East Mirror Lake 3,785.72 3,785.72 57th and Chowen 261.36 261..36 TOTAL $420,320.84 $35,997.00 $456,317.84 —32— ASSETS .Cash (deficit) Fixed assets.;. at cost: Land Swimming pool and bathhouse Filter system Concession furniture and fixtures Less allowance for depreciation LIABILITIES AND SURPLUS Payables: Trade accounts Due to Park Sinking Fund Surplus invested in fixed assets: Acquired.,by,bonds.. Acquired by surplus Donated Unappropriated surplus (deficit) SWIMMING POOL FUND BALANCE SHEET VILLAGE OF EDINA December 31, 1966 $3,802.37 2,503.06 ($ 3,538.91) $ 10,000.00 184,026.67 17,000.00 1,299.31 212,325.98 $208,787.07 $209,431.89 2,844.09 50.00 $ 18.28 15,715.50 $ 15,733.78 212, 325.98 ( 19,272.69) $208,787.07 m33® SWIMMING POOL FUND STATEMENT-OF SURPLUS VILLAGE OF EDINA Year Ended December 319 1966 - Invested in Fixed Assets Unappro- From I From Total priated Donated Surplus Bond Fund Balance at January 1, 1966 $201,743.78 $10,962.44# $50000 $3,224.33 $209,431.89 Additions and transfers: Net income for the year 59.76 59.76 Interest provided for at December 31, 1965 included in operations 6,965.25 6,965.25 Provision for depreciation - 380.24 380.24# $208,768.79 $ 3,557.19# $50.00 $2,844.09 $209,431.89 Deducts Allocation to Sinking Fund for bonds 15,715.50 15,715.50" Balance at December 31, 1966 $193,053.29 $19,272.69# $50.00 $2,844.09 $209,431.•89 * Indicates red figure. —34— SWIMMING POOL FUND ANALYSIS OF CHANGE IN CASH BALANCE VILLAGE OF EDINA Year Ended December 31, 1966 Balance at January 1, 1966 Additions: Pool fees Concession income (see separate schedule) Add provision for depreciation not requiring cash Other revenue Deductions: Operating expense (see separate schedule) Less accounts payable at December 31, 1966 Payment made on accruals at December 31, 1965. $ 531.92 $43,959.00 $1,459.76 380.24 1,840.00 1,362.51 47,161.51 $47,693.43 $39,756.26 18.28 $39,737.98 11,494.36 51,23 ?.34 Balance (deficit) at December 31, 1966 ($ 3,538.91) -35- SWIMMING POOL FUND STATEMENT OF INCOME AND EXPENSE VILLAGE OF EDINA Year Ended December 31, 1966 Revenues: Pool fees: Season tickets General admissions Rental - instruction program Other Operating expenses: Salaries and wages: Supervision and clerical Life guards Cashier Basket room attendants .Watchmen Maintenance Light and power Water and sewer Gas Telephone Rubbish hauling Maintenance parking lot Insurance Repairs and maintenance Replacement and renewals — water treatment equipment Cleaning supplies Water treatment General supplies Annual audit Printing and office expense Central services Other Interest on bonds Income from concessions — see separate schedule ( ) Indicates red figure. $3,190.00 9,273.00 898.00 3,291.00 940.00 5,202.00 $38,625.00 5,334.00 $22,794.00 1,486.00 191.00 1,023.00 158.00 150,00 3,101.00 1,305.00 849.00 3,294.00 184.00 1,523.00 722.00 100.00 494.00 2,340.00 42.26 $43,959.00 1,359.00 3.51 $45,321.51 39,756.26 $ 5,565.25 6,965.25 ($ 1,400.00) 1,459.76 NET INCOME FROM OPERATION $ . 59.76 -36- SWIMMING POOL FUND STATEMENT OF INCOME AND EXPENSE (CONCESSIONS ONLY) Soft drinks Soft ice cream Popcorn Sandwiches Cakes Other Operating expenses: Salaries and wages: Manager Clerk Supplies Repairs and maintenance Provision for depreciation VILLAGE OF EDINA Year Ended December 31, 1966 Sales $1,178.00 3,290.00 1,864.00 591.00 1,708.00 142.00 Cost of Sales $ 794.00 2,210.00 437.00 242.00 1,095.00 87.00 $8,773.00 $4,865.00 $ 617.75 1,392.25 $2,010.00 32.00 26.00 380.24 NET INCOME Gross Profit Per Cent Amount to Sales 384.00 32.60% 1,080.00 32.83 1,427.00 76.56 349.00 59.05 613.00 35.89 55.00 38.73 $3,908.00 44.55% 2,448.24 $1,459.76 -37- SWIMMING POOL FUND FIXED ASSETS VILLAGE OF EDINA Year Ended December 31, 1966 ASSETS Land Swimming pool and bathhouse Filter system Concession furniture and equipment ALLOWANCE FOR DEPRECIATION Concession furniture and equipment Balance Balance January 1, December 31, 1966 Additions 1966 10,000.00 $ 10,000000 184,026.67 184,026.67 17,000.00 17,000.00 3,802.37 3,802°37 $214,829.04 $ - $214,829.04 2,122.82 $380.24 2,503.06 NET BALANCE $2.12,706.22 $212,325.98 —38— GOLF COURSE FUND BALANCE SHEET VILLAGE OF EDI NA December 31, 1966 ASSETS Cash: On deposit Working funds Investments: United States Treasury bills — at cost Accrued interest Accounts receivable Prepaid expenses Fixed assets.--' 4t cost: Golf course Buildings Well Parking lot and roadways --equipment Less allowance for depreciation Construction in progress LIABILITIES, RESERVE AND SURPLUS Accounts payable Accrued payroll Due to other funds Loan from other funds: Liquor Dispensary Fund Park Construction Fund Bonds payable Appropriated surplus — for debt service Surplus — deficit* — unappropriated $61,544.38 13,481.95 3,951.16 50.00 $ 47,135.00 716.25 $722,424.02 182,243.31 15,018.15 9,627.32 48,062.43 $977,375.23 296.00 $185,000.00 65,000.00 $ 4,001.16 47,851.25 218.08 208.00 977,671.23 $1,029,949.72 $ 825.25 48.48 6,542.00 250,000.00 800,000.00 52,300.00 79.766.01# $1,029,949.72 —39— GOLF COURSE FUND STATEMENT OF.SURPLUS VILLAGE OF EDINA Year Ended December 31, 1966 Appropriated for Debt Service Balance (deficit) at January 1, 1966 $52,,300.00 Add net income for the year Unappropriated ($97,446.08) 17,680.07 Balance (deficit) at December 31, 1966 $52,300.00 ($79,766.01) -40- GOLF COURSE FUND ANALYSIS OF CHANGE IN CASH BALANCE VILLAGE OF EDINA Year Ended December 31,1966 Balance At January 1; 1966 Additions - Investments sold Fixed assets purchased, less carrying 319040°56 Revenue`- - "see separate schedule 1319199.07 Net income — operating department — see 11,496.35 separate schedule $12,388.00 Add depreciation included `therein not Principal $25,000.00 requiring cash 1,'780.00 149168.00 Income on investments 29095.00 Decrease in accounts receivables 97.00 $51,497.00 Balance at January 19 1966 $ 941.23 . Balance at December 31, 1966 218.08 723.15 Deductions: $ 73,422.48 179.225.78 $252,648.26 Investments purchased. $ 47,851.25 Fixed assets purchased, less carrying value of disposals 11,496.35 Payment to'fiscal agents Principal $25,000.00 Interest' 26,400.00 Service charge 97.00 $51,497.00 Interest "paid Liquor Dispensary Fund 6,475.00 57,972.00 Operating expenses — see separate schedule 90,673.00 Increase'in` prepaid expenses 99.07 Decrease -iii "liabilities: Balance'at January 1, 1966: Accounts payable $ 1,918.37 Due tb other funds 46,102.79 $48,021,-16 Balance at December 31, 1966s. Accounts payable $ 825.25 Due to other funds 6,542.00 Accrued payroll 48.48 7,415.73 40,605.43 248,697.10 Balance at December 31, 1966 $ 3,951.16 —41— GOLF COURSE FUND STATEMENT OF INCOME AND EXPENSE VILLAGE OF EDINA Year Ended December 31, 1966 Revenue: Membership fees Green fees: Regular course. $97,998.00 Short course 16,191.00 Locker - rental Other Operating expenses: Administration: Salaries and wages: Manager — pro $ 6,800.00 Assistant pro 1,423.00 Rangers and starter 3,043.00 Cashiers,'clerical and other 1,576.00 $12,842.00 Audit 400.00 Printing 1,264.00 Supplies 189.00 Insurance and alarm system 881.00 Reitrement, insurance, office supplies, etc. 5,100.00 Travel and mileage 258.00 Other 265.00 $21,199.00 Building — club house and pro shop: Salaries and 4ages 2,272.00 Utilities: Telephone $ 855.00 Water and sewer 443.00 Fuel 919.00 Light -and power 889.00 - -Laundry 880.00 Rubbish hauling 480.00 $4,466.00 Less amount charged to grill 1,340.00 3,126..00 Electrical work 78.00 Insurance 126.00 Repairs - heating and plumbing 469.00 Repairs — building 123.00 Supplies 1,114.00 Other 226.00 7,534.00 $ 15,272.50 114,189.00 1,420.00 317.57 $131,199.07 —42— GOLF COURSE FUND STATEMENT OF INCOME AND EXPENSE ('Cont'd) Operating expenses (cont'd): see Maintenance of course and grounds: separate Salaries and wages: $12,388.00 Superintendent 7,800.00 Maintenance 28,797.00 14,483.00 $36,597.00 Equipment rental 269.00 Telephone 215.00 Light and power 2,753.00 Fuel 213.00 Fertilizer and chemical 6,809.00 Sod, black dirt and seed 1,392.00 Sand, gravel and rock 842.00 Repairs — water system 465.00 Lumber 519.00 Equipment operation 9,900.00 Supplies 1,348.00 Parking lot improvement 438.00 Other 180.00 $61,940.00 $ 90,673.00 $ 409'526.07 Net income - operating departments — see separate schedule $12,388.00 Income on investments 2,095.00 14,483.00 INCOME BEFORE INTEREST AND DEPRECIATION $ 559-009.07 Interest on bonds $269497.00 Interest on loan — Liquor Dispensary Fund 6,475.00 32,972.00 INCOME BEFORE DEPRECIATION $ 229037.07 Provision for depreciation 4,357.00 NET INCOME $ 17,680.07 —43— GOLF COURSE FUND STATEMENT OF INCOME AND EXPENSE — OPERATING DEPARTMENTS VILLAGE OF EDINA Year Ended December 31, 1966 Driving range: Revenue Less operating expenses: Salaries and wages $ 3,314.00 Rental equipment. 30.00 Replacement - balls 2,406.00 Other supplies 963.00 Provision for depreciation 818.00 -Excavation 366.00 Grill: Sales: Food Beer Other Less cost of goods sold: Food $11,939.00 Beer 2,882.00 Less operating expense: Salaries and wages: Manager $ 3,121.00 Cooks, waiters and waitresses '7,649.00 $10,770.00 Insurance — liability 54.00 Dishes, napkins, tools, etc. 1,014.00 Repair work 87.00 Cleaning supplies 86.00 Expenses — prorated 1,340.00 Provision for depreciation 962.00 Village share of pro —shop profit in lieu of rents $14,357.00 7,897.00 $ 6,460.00 $22,218.00 9,237.00 1,049.00 $32,504.00 14,821.00 $17,683.00 14,313.00 NET INCOME 3,370.00 2,558.00 $12,388.00 —44— ASSETS Golf coursp Buildings: Club house Maintenance building Range building Well Parking lot and roadways Equipment: Golf course equipment Club house 6�ipment Pro —shop equipment Range equipment Concession equipment Construction in progress ALLOWANCE FOR DEPRECIATION Golf course equipment Club house equipment Pro —shop equipment Range equipment Concession equipment GOLF COURSE FUND FIXED ASSETS VILLAGE OF EDINA Year Ended December 31, 1966 NET BALANCE Balance January 1, 1966.' Additions $710,733:66 $173,038'.75 6,491.92 958.:64. .- . $180,489.31 $ - 15,018.15 9,627.32 $ 32,622.82 $ 3,112:15 8,100.91 �> 2,363.64 82.55 4,765.93 1,395.00 9,551.38.,- 145.00 $ 57,404.68,.'- $ 4;734.70 $973,273.12 $ 4,734.70 6..5o2.36 .:. 7,238.00, $979,775.48 $11,972.70 $ 4,365.09 $ 3,388.14 527.46 728.48 289.45 240.50 917.05 817.84 1,364.55 962.39 $ 7,463.60. $.6;137,.35 $972,311.88 I i Deductions { i i I i $595.00 1 i .00. $595.00 $595.00 $119.00 $119.00 1. ;I I J� L r . I jJ . Transfer In (Out) $11,69036: $ 500•;00. 1,254X0 $ 1, 754..:00 i $ $13,444:36 ( 13,44406) .y. 9 i f Balance December 31 1966 $722,424.02 $173,538.75 6,491.92 2,212.64 $182,243.31 15,018.15 9,627.32 $ 35,139.97 8,106.91 2,446.19 6,160.93 9,696.38 $ 61,544.38 $990,857.18 296.00 $991,153.18 $ 7,63 4.23 1,255.94 529.95 1,734.89 2,326.94 $ 13,481.95 $977,671.23 -45- GOLF COURSE FUND BONDS PAYABLE VILLAGE OF EDINA December 31, 1966 Annual maturity and interest date Interest rate Year 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 TOTAL December 1 and June 1 2.5% to 3.5% $ 25,000.00 25,000.00 25,000.00 25,000-.00 35,000-00 35,000.00 35,000.00 35,000.00 35,000.00 35,000.00 40,000.00 40,000.00 40,000.00 40,000.00 40,000.00 40,000.0.0 50,000.00 50,000.00 50,000.00 50,000.00 509000.00 $800,000.00 —46— RECREATION CENTER FUND BALANCE SHEET VILLAGE OF EDINA December 31, 1966 ASSETS Cash: On deposit Working fund Accounts receivable Merchandise inventory — at cost Prepaid insurance Advance to Park Construction Fund Fixed assets — at cost: Land improvements Building Furniture and equipment Less allowance for depreciation LIABILITIES, RESERVE AND SURPLUS Accounts payable Accrued payroll Accrued interest Due to Permanent Improvement Revolving Fund Deferred income Bonds payable Appropriated surplus: Contributed invested in fixed assets Invested in fixed assets For debt service Unappropriated surplus — deficit* $20,597.27 2,380.86 $ 9,416.30 2,774.86 $ 46,302.04 700.00 32,185.72 504,926.71 $ 47,002.04 4,965.00 1,779.40 1,55$.35 6,862.32 18,216.41 555,328.84 $617,495.95 $ 12,191.16 36,500.00 $ 5,415.63 364.00 4,696.67 100,000.00 $110,476.30 8,543.00 450,000.00 48,691.16 214.51# $617,495.95 V —47- RECREATION CENTER FUND STATEMENT OF SURPLUS VILLAGE OF EDINA Year Ended December 31, 1966 Una=rootiated Balance at January 1, 1966 $ 8,380.54# Additions: Net income for year 7,522.77 Fixed assets purchased 1,735.30# Transfers: Fixed assets from Park Construction 542,464.48# Less outstanding debt: Bonds 450,000.00, Due to Permanent Revolving Fund 100,000.00 Due from Park Construction Fund 6,862.32# Provision for depreciation 1,705.36 Balance (deficit) at December 31, 1966 4 214.51) # Indicates red figure. Invested in Fixed Assets $ 2,310.32 1,735.30 542,464.48 450,000.00# 100,000.00# 6,862.32 597.56# 2,774.86 Appropriated Contributed Invested in For Debt Fixed Assets Service $10,524.10 $36,500.00 i 1,107.80# $ 9,416.30 $36,500.00 Total $ 49,334.42 1,735.30 542,464.48 450,000.00# 100,000.00# 6,862.32 1,705.36# 48,691.16 —48— RECREATION CENTER FUND ANALYSIS OF CHANGE IN CASH BALANCE VILLAGE OF EDINA Year Ended December 31, 1966 Balance at January 1, 1966 Additions: Transfer from Park Construction Fund Loan from Permanent Improvement Revolving Fund Excess of revenue over expenses — see separate schedule Add depreciation included therein not requiring cash Deductions: Advance to Park Construction Fund Additions to fixed assets Increase in inventory Increase in working capital Increase in prepaid expenses Increase in accounts receivable Decrease in accounts payable Decrease in accrued payroll Decrease in deferred income $543,137.68 100,000.00 $7,522.77 1,705.36 9.228.13 $100,000.00 544,199.78 1,195.74 ,476.55 1,558.35 4,291.60 1,109.43 1,020.27 1,197.00 Balance at December 31, 1966 $- 48,984.95 652,365.81 $701,350.76 655,048.72 $ 46,302.04 -49- RECREATION CENTER FUND STATEMENT OF INCOME AND EXPENSE VILLAGE OF EDINA Year Ended December 31, 1966 Revenues: Season tickets Daily fees Spectator fees Ice rental Skate sharpening and repair Other Concession income Less operating expenses: Cost of food sold Salaries and wages Supplies and expense Less operating expenses: Salaries and wages: 'Manager Supervisor Ice guard Cashier and ticket takers Clerical Custodian Maintenance Organist i.,'.Other expenses: Light and power Fuel and heat Central services Equipment maintenance Service contract equipment Lumber and paint Mileage and conference expense Telephone Printing Supplies Insurance Advertising Rubbish' hauling Other Income on investments Other deductions: Interest on bonds Cost of bond sales Provision for depreciation I 19,365.00 q,798.00 19,52.00 41,69 . 8._00 3,701.00 1,855.44 $15,733.33 $ 4,760.00 2,470.00 525.00 7,755.00 7,978.33 $103,919.77 $ 7,200.00 6,000.00 1,345.00 3,081.00 1,592.00 5,142.00 14,670.00 2,360.00 $41,390.00 $11,037.00 5,132.00 4,020.00 3,010.00 1,350.00 3,935.00 753.00' 592.00 1,577.00 4,698.00 _779.00 682.00 600.00 1,373.00 39,538.00 80,928:00 $ 22,991.77 712.00 $ 23,703.77 $14,126.00 350.00 14,476.00 INCOME BEFORE DEPRECIATION $ 9,227.77 1,705.00 NET INCOME $ 7,522.77 —50— ASSETS Land - Buildin.g Furniture and equipment ALLOWANCE FOR DEPRECIATION Furniture and equipment RECREATION CENTER FUND FIXED ASSETS VILLAGE OF EDINA Year Ended December 31, 1966 Balance January 1, 1966 13,509.92 Additions $ 32,185.72 504,926.71 7,087.35 Balance December 31, 1966 32,185.72 504,926.71 20.597.27 $13,509.92 $544,199.78 $557,709.70 675.50 NET BALANCE $12,834.42 $ 1,705.36 2,380.86 $555,328.84 -51� Annual maturity and interest date Interest. rate Year 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1-978 1979 1980 1981 1982 RECREATION CENTER FUND BONDS PAYABLE VILLAGE OF EDINA December 31, 1966 —52— March 1 and September 1 3% to 3% 3.3% Series A Series B Total 10,000.00 $ 5,000.00 $ 15,000.00 10,000.00 5,000.00 15,000.00 10,000.00 5,000.00, 15,000.00 10,000.00 59000.00 15,000.00 10,Q00.00 5;000.00 159000.00 20,000.00 100000.00 30,000.00 20,000.00 10;,000.00 30,000.00 20,000.00 1.0,000.00 30,000.00. 20,000.00 10'9,000.00 309000.00 20,000.00 10,000.00 30,000.00 30,000.00 15,000.00 45,000.00 30,000.00 15,000.00 45,000.00 30,000.00 15000.00 45,000.00 301000.00 159000.00 45,000.00 30,000.00 159000.00 45,000.00 TOTAL $300,000.00 $150,000.00 $450,000.00 —52— PARK SINKING FUND BALANCE SHEET VILLAGE OF EDINA December 31, 1966 ASSETS Cash: Demand deposit Time deposit Investments: Edina Park System Bonds — at face value Receivables: Due from Swimming Pool Fund Taxes receivable, — current and delinquent $ 52,548.40 Taxes receivable — deferred 823,000.00 $875,548.40 Less allowance for delinquent and uncollectible taxes 44.488.40 LIABILITIES, RESERVE AND SURPLUS Amount payable during 1967:. Interest Bonds Bonds, payable Less current portion — shown above Reserve for future interest Less current portion — shown above Surplus - unappropriated 24,842.22 50,000.00 $ 15,715.50 $ 749842.22 10,000.00 831.060.00 846,775.50 $931,617.72 $690,000.00 40,000.00 $205,050-00, $ 24,835.00 40,000.00 $ 64,835.00 650,000.00 181,115.00 35.667.72 $931,617.72 —53- PARK SINKING FUND STATEMENT OF SURPLUS VILLAGE OF EDINA Year Ended December 31, 1966 Balance at January 1, 1966 Additions: Income on investments Transfers: ' " Reserve for-future interest Reserve for uncollectible taxes Less portion allocated to Swimming Pool Fund Allowance for-delinquent taxes Deductions: Payment to fiscal agents: Interest Service charge $3,165.00 484.50 $26,027.50 2,680.50 596.80 $ 1,035.01 29,304.80 $30,694.40 30.339.81 $61,034.21 $25,265.50 100.99 25,366.49 Balance at December 31, 1966. $35,667.72 -54— PARK SINKING FUND ANALYSIS OF CHANGE IN CASH BALANCE VILLAGE OF EDINA Year Ended December 31, 1966 Balance at January 1, 1966 Additions: Tax settlements received from County: March 1966 June 1966 November 1966 Sale of investments Income on investments Payment received on amounts due from other'funds'at December 31, 1965 Deductions: Payment to fiscal agents: Principal Interest Service charge $ 30,511.65 $ 3,334.84 27,812.96 26.049.00 57,196.80 30,000.00 1,035.01 11,465.25 99,697.06 $130,208.71 $30,000.00 25,265.50 100.99 55,366.49 Balance at December 31, 1966 $ 74,842.22 -55- PARK SINKING FUND BOND AND INTEREST MATURITIES-AND DEFERRED TAX LEVIES Annual maturity -arid interest date Interest rates Year 1968 1969 1970 1971 1972 VILLAGE OF EDINA December 31, 1966 Bonds $ 40,000.00 40,000.00 40,000.00 40, 000-. 00 50,000.00 Marche , June' l , September 1 and December 1 2% to 3.90% Excess of Deferred Levies over 1973 Bond and Interest Deferred Interest Maturities Levies 50,000.00 $ 23,485.00 4,515.00 $ 68,000.00 22,135.00 6,865.00 69,000.00 20,755.00 9,245.00 70,000.00 19,375.00 10,625.00 70,000.00 17,810.00 39190.00 71,000.00 1973 50,000.00 16,040.00' 5,960:00 72,000.00 1974 50,000.00 14,230.00 7,770.00 72,000.00 1975 500000.00 12,380.00 10,620.00 73,000.00 1976 40,000.00 10,530.00 12,470.00 63,000.00 19'77 50,000.00 8,775.00 5,225.00 64,000.00 1978 1979 1980 1981 * Indicates red figure. 50,000.00 50,000.00 50,000.00 50,000.00 TOTAL $650,000.00 6,825.00 4,875.00' 2,925.00 975.00 $181,115.00 8,175.00" 11,125.00 52,925.00# 50,975,.00# $ 8,115.00^ 65,000.00 66,000.00 $8239000.00 -56- PARK CONSTRUCTION FUND BALANCE SHEET VILLAGE OF EDINA December 31, 1966 ASSETS. Cash: On deposit Investments — at face value: Edina Park System Bonds United States Treasury bills Receivable: Loan to-Golf Course Fund Fixed assets — at cost: Land Construction in progress Equipment LIABILITIES AND SURPLUS Trade accounts payable Advance from-Recreation Center Fund Surplus invested in fixed assets Reserve for construction $ 43,544.40 $ 169'000.00 . 5.0,000.00 66,000.00 65,000.00 $507,415.08 643,074.16 20,486.73 1,170.975.97; $1,345,520.37 $ 2,447.50 .6,862.32 1,170,975.197 165,234.58 $1,345,520.37 —57— PARK CONSTRUCTION FUND ANALYSIS OF RESERVE FOR CONSTRUCTION VILLAGE_ OF EDINA Year Ended December 31, 1966 Balance at January 1, 1966 Additions: Transfer from Liquor Dispensary Fund Income on investments Deductions: Purchase of fixed assets Transfer to Golf Course Fund Transfer to Recreation Center Fund $ 90,350.30 $87,000.00 3.380.33 cf0.380.33 $180,730063' $91,350.05 . $ 500.00 75,354.00 75,854.00 15,496.05 Balance at December 31, 1966 $165,234.58 —58- PARK CONSTRUCTION FUND ANALYSIS OF CHANGE IN CASH BALANCE VILLAGE OF EDINA Year Ended December 31, 1966 Balance at January.l, 1966 Additions: Transfer from Golf Course Fund Transfer from Liquor Dispensary Fund Sale of investments Advance from Recreation Center Fund Income on investments Deductions: Purchase of fixed assets Balance liabilities at January 1, 1966: Accounts payable Due to General Fund Less accounts payable at December 31, 1966 Purchase of investments $ 99,040.02 $ 41,169.86 87,000.00 15,000.00 100,000.00 .3,380.33 246,550.19 $3459590.21 $114,617.73 $108,255.61 16,619.97 $124,875.58 2,447.50 122,428.08 65.'000.00 302,045.81 Balance at December 31, 1966 43,544.40 -59- PARK CONSTRUCTION FUND FIXED ASSETS VILLAGE OF EDINA December 31, 1966 Land: Highway 169 and Hanson. Road h $ 15,007.09 Hays Farm property 221,705.35 Coffman property 12,639.48 Cornelia property 78,154.49 Pamela Park 2,440.00 Jackson and Belmore Lane area 239506.60 Sixty— second and Beard area 26,715.00 Fifty — second and Arden area 1,250.00 Sixty — second and Tracy area 18,300.00 Lake Eddina—aecond area 30,330.00 Fifty - fifth and York area 7,369.21 Birchcrest'Park 11,620.22 Division and Rutledge area 7,942.65 Normandale area 10,496.54 Walnut -Ridge area 3,466.84 Heights area 6,515.78 Edina Valley Estates area 17,021,35 Davis property 1,217.55 Mud Lake area 11,716.93 Construction'-in progress: 45,543.57 Utley Park $ 22,041.23 Fifty- seventh and Chowen 5,645.77 Lake Cornelia area 43,645.45 Pamela area' 171,261.60 Fifty— second and Arden 17,629.22 Normandale area 45,543.57 Alden Park 30,576.10 Highland Park 58,122.22 Fifty -fifth and York 79647.36 Sixty — second and Beard 12,515.08 Hays Farm property 31,926.91 Cornelia School site 41,264.46 Sixty —ninth and McGuire 2,836.17 Division and Rutledge area 32,088.96 Countryside Park 20,336.11 Valley View School site 7,733.49 $ 507,415.08 Construction in progress (cont'd): Garden Park Heights area Lake Edina area Other park areas Recreation center Mud Lake area Equipment PARK CONSTRUCTION FUND FIXED ASSETS (Cont'd) SUMMARY OF CHANGES IN FIXED ASSETS Balance at. January 1, 1966 Add purchases during the year Deduct: Transfer to Recreation Center Fund Transfer to Golf Course Fund Write off of unallocated costs $ 35,390.79 24,756.11 14,682.20 13,743.86 2,437°50 1,250.00 643,074.16 20,486.73 TOTAL $1,170,975.97 $543,137.68 5,984.00 1,372.50 Balance at December 31, 1966 $1,606,852.42 114,617.73 $1,721,470.15 550,494.18 $1,170,975.97 -61- IMPROVEMENT FUNDS COMBINED BALANCE SHEET VILLAGE OF EDINA December 31, 1966 ASSETS Ca sh: Demand deposits Time deposits Investments Receivables: Special assessments: Current - certified its 1966 - collectible in 1967 Delinquent Deferred Taxes and assessments receivable - Village share of projects: Current and delinquent Deferred Less allowance for delinquent taxes Due from other funds Due from Construction Fund for advances Construction in progress: Current Deferred Unallocated construction cost Prepaid interest LIABILITIES, RESERVE AND SURPLUS Accounts payable Accrued interest Due to Hennepin County Due to other funds Construction contracts payable Advance from Improvement Funds Payable to City of Minneapolis for Village share of sewage disposal plant Bonds,'payable Construction deposits Reserve for assessment adjustments Reserve for construction Surplus - unappropriated Total Elimination $ 325,357.63# 350,000.00 $ 24,642.37 2,167,503.00 $ 1,437,808.95' 281,044.81 6,536,031.38 10,938.06 291,852.49 $ 8,557,675.69 695,402.27 $ 7,862,273.42 109,105.50 1,812,063.01 320,031.12 90,844.77 25,555.69 $12,412,018.88 $ 2,027.69 70,689.38 10,429.95 22,663.63 320,031.12 430.01 10,085000.00 90,040.26' 51,823.00 27,752.25 1,731,131.59 $12,412,018.88': Construction 352,075.85# - $ 352,075.85# 1,359,339.84 $1,359,339.84 $1,359,339.84 $1,359,339 ..84 1,752.05 1,812,063.01 320,031.12 15,393.14 $1,797,163.47 $ 320,031.12 1,359,339.84 90,040.26 27,752.25 $1,797,163.47 Joint Permanent Sanitary Sewer Improvement Sewer No. "1 Revolving No. 53 $2,994.41 $2,994.41 $2,994.41 $ 430.01 2,564.40 $2,994.41 $ 7,126.23 $ 7,126.23 106,503.00 $ 20,466.46# 20,466.46# 205,000.00 $ 12,128.01 $ 29,150.75 30,910.79 2,767.26 5,070.86 129,558.91 $ 48,109.66 31,770.73 $ 16,338.93 100,000.00 100,000.00 $329,968..16 $ 101.60 7,856.37 322,010.19 $329,968.16 69,098.54 $230,575.46 14,552.43 $216,023.03 $400,556.57 $ 672.95 320,000.00 79,883.62 $400,556.57 Southdale Improvement I 15,118.90 15,118.90 100,000.00 $ '1,360.32 I 1 $ 1,360.32 68.02 $ 1,292.30 7,353.45 $123,764.65 $ 1,050.00 105,000.00 13,091.60 4,623.05 $123,764.65 Improvement Bond .Redemption $ 21,693.96 350,000.00 $ 371,693.96 1,756,000.00 $ 1,395,169.87 247,366.76 6,401,401.61., 10,938.06 222,753.95 $ 8,277,630.25 649.011.09 $ 7,628,619.16 1,259,339.84 75,451.63 25,555.69 $11,116,660.28 $ 2,027.69 69,639°38 9,655.40 22,663.63 9,660,000600 30,875.03 1,321,799.15 $11,116,660.28 Municipal State -Aid Street13ond $251.18 $251.18 $251.18 $251.18 $251.18 —62— IMPROVEMENT FUNDS STATEMENT OF SURPLUS — UNAPPROPRIATED VILLAGE OF EDINA Year Ended December 31, 1966 Balance at January 1, 1966 Additions: Interest spread on.assessments for collection in 1967 Income on investments Capitalized interest Overcollection on special assessments Transfer from General Fund Connections — charges Deductions: Interest on bonds Bank service charges. Cost of bond sale Cancellations and adjustments Transfers — add (deduct): Allowance for delinquent taxes Interfund * Indicates red figure. Total $1,458,216.30 $ 402,818.39 87,753.33 78,044.40 195.16 1,000.00 198.00 $ 570,009.28 $ 299,336.19 4,106.94 2,924.23 2.60 $ 306,369.96 $1,721,855.62 9,275.97 Balance at December 31, 1966- $1,731,13lo59 Joint Sewer No. 1 $2,564.40 2,564.40 I $2,564.40 i Permanent Improvement Revolving $312,841.89 $ 809.26 4,140.18 198.00 $ 5,147.44 317;989.33 4,020.86 $322,010.19 Sanitary Sewer No. 53 $72,689.17 $ 7,557.60 8,147.55 $15,705.15 $11,340.00 78.36 $11.418.36 $76,975.96 .2,907.66 $79,883.62 Southdale Improvement $3,367.16 $ 64.78 4,044.59 195.16 $4,304.53 $3,225.00 27.19 2.60 $3,254.79 $4,416.90 206.15 $4,623.05 Improvement Bond Redemption $1,010,059.15 $ ..394,386°75 66,965.12 78,044.40 $ 539,396.27 $ 211,371.19 1,936.39 2,924.23 $ 216,231.81 $1,333,223.61 2,141.30 ( 13,565.76) $1,321,799..15 Temporary Improvement $57,443.35 $ 4,455.89 $ 4,455.89 $73,400.00 2,065.00 $75,465.00 $13,565.76# 13,565.76 'Municipal State -Aid Street Bonds $ - '748.82 * $1,000.00 $1,000.00 $ 251.18 $ 251.18 -63— Balance at January 1, 1966 Additions: Remittance from County Auditor: On special assessments On taxes receivable Collections by Village on special assessments Proceeds from sale of bonds Sale of investments Collection from other funds Advance from Improvement Funds Payment received on connection charges Construction deposit received Payment received from State of Minnesota Collection for another fund Transfer from General Fund Combined $ 322,942.14 $ 1,389,601:77 10,620.13 387,374:33 3,506,495.48 7,012,368.33 `1.703-38 1,500,000.00 21,882.86 56,101.94 162,678.11 80.36 1.000.00. $14,049,906.69 Deductions: Construction costs charged-to others: General Fund $ 19,148.65 Permanent Improvement Revolving Fund 12,141.16 Park Fund 1,310.39 Park Construction Fund 21,290.77 Waterworks Fund 25,604.99 Improvement Funds 14501,983.41 $1,581,479.37 . Less collections received 77,743.91 $1,5030735.46 �fincrease in construction.im progress: Balance at December: :31; 1966: -Current construction $1,812,063.01 Deferred construction 320,031.12 - Unallocatedc.costs 15,393.14 $2,147,487.27 Balance at.January;l., 1966: Current construction $1,454,991.43 ..Deferred�tonstruct on 324,296.58 Unal(locate&,costs 14,687.79 1,793,975.80 $ 353,511.47 Add decrease in contracts payable: Balance at January 1,! 1966 $ 324,296.58 Balance at Decembet'31, ?•.1966 320,031.12 4,265.46 357,776.93 1,861,512.39 (Balance Carried Forward) $12,511,336.44 IMPROVEMENT FUNDS ANALYSIS OF CHANGE IN CASH BALANCE VILLAGE OF EDINA Year Ended December 31, 1966 Joint Permanent Sanitary Sewer Improvement Sewer .Construction No. 1 Revolving No. 53 $ 10,179.04 $4,649.93 $ 39,153.179' $ "10,666.97 $ _ 642.10 1,500,000.00 56,101.94 25,990.61 $1,582,734:65 24,442.64 3,393.68 152,75.5.18 19$.00° $180,789.50 $ 32,108.44 5;243.89 183,147.55 $220,499.88 1.861,512.39 i $ 268,598.70# $4,649.93 $219,943.29 $231,166.85 $133,523.69 $11,718,811.23 i i $ 334,901.47 $136,938.68 i .Improvement Municipal .Southdal'e Bond Temporary State -Aid Improvement Redemption Improvement Street Bond $ 3,611.88 $ 121,034.20 134,395.15 748.82# $ 11800.23 $ 1,331,250.46 lo,620.13 42.04 315,214.35 $ 63,480.37 3,506,495.48 124,044.59 6,417,965.12 ` 134,455.89 1,061.28 4,024.95 15,170.21 2,489.70 $136,687.50 r 80.36 i 19000.00 $129,911.81 $11,597,777.03 I $ 200,506.32 $137,687.50 1.861,512.39 i $ 268,598.70# $4,649.93 $219,943.29 $231,166.85 $133,523.69 $11,718,811.23 i i $ 334,901.47 $136,938.68 (Balance Brought Forward) Deductions (cont'd)s Payment to other funds accrued at December 31, 1965 Investments purchased Payment to County Auditor for bookkeeping charges Transfer to Construction Fund Bonds redeemed Interest on bonds Bank service charges Cost of bond sale Paid to City of Minneapolis — sewage disposal plant Payment on connection charges Construction costs Return on construction deposits_ Loan to other fund Refunds .Prepaid interest Interfund transfer * Indicates red figure. Combined $12,511,336.44 25,864.54 6,535,000.00 1,476..20 1,500.000100 39930,000:00 284,123.00 4,068.76 2,924.23 1,655.52 1.,255 .10 12,14i.16 62,558.80 100,000.00 71.07 25.555.69 $12.486.694.'07 24,642.37' $ 24,642.37 Construction $ 268,598.70# $ 20,918.35 62,558.80 Joint Sewer No. l $4,649.93 $1,655.52 83,477.15 11,655.52 $ 352,1075 :85# $29994.41 $ 352,075.85# $2,994.41 1 f � IMPROVEMENT FUNDS (Cont'd) i 1 ANALYSIS OF CHANGE IN CASH BALANCE Permanent' Sanitary Improvement Municipal Improvement Sewer Southdale Bond' Temporary State —Aid Revolving No..53 Improvement. Redemption Improvement Street Bond $219,943.29 $2319166.85 $1339523.69 $11,718,811.23 $ 334,901.47 $1369938.68 $ 628.00 $ 3,2,56.91 $ 1,061.28 1009000.00 $200,000.00 100,000.00- 6,005,000.00 1300000.00 47.90 204.75 2.60 1,125.20 95.75 1,500,000.00 40,000.00 159000.00 1,140,000.00 2,600,000.00 $135,000.00 11,340.00 3,375.00 194,320.50 73,400.00 19687.50 78.36 27.19 1,898.21 29065.00 2 ,924.23 1,255.10 12,141.16 100,000.00 10.20 60.87 2 .6 212 817.06 $25,1.633.Ti .7 lTR 04-79' 8,875,396-71 $2,806..622.03 $136.687.50 $ 7,126.23 $ 209466.46# $ 15,118.90 $ 2,8430414.52 $29,471,720:56# $ 251.18 2,471,720.56# 2,471,720.56 ! $ 7,126.23 $ 20,466.46# $ 15,118.90 $ 371,693.96 $ , _ i' l $ 251.18 —65— IMPROVEMENT FUNDS •BONDS PAYABLE VILLAGE OF EDINA December 31, 1966 Annual maturities and interest dates Interest rate Year Total. 1967 1,515,000.00 w 1968 1,375,000.00 1969 1,375,000..00 1970 1,150,000.00 1971 950,000.00 1972 950,000.00 1973 9509000.00 J 1974 635,000.00 ' 1975 495,000.00 1976 455,000.00 1977 105,000.00 1978 659000.00 1979 65.000.00 TOTAL $10,085,000.00 Sanitary Sewer No. 53 January 1 and July l 3 1/4% and 3 1 /10% $ 40,000.00 40,000.00 40,000.00 40,000.00 .40,000.00 40,000:00 40,000.00 40,000.00 $320,000.00 Southdale Improvement March 1 and September 1 3% 15,000.00 15,000.00 15,000.00 15,000.00 15,000.00 15,000.00 15,000.00 $105,000.00 Improvement Bond Redemption March 1, May 1, June 1, September 1, November 1 and December 1 2% to 4% $1,500,000.00 1,320,000.00 1,320,000.00 1,320,000.00 895,000.00 895,000.00 895,000.00 595,000.00 455,000.00 455,000.00 105,000°00 65,000.00 65.000.00 $9,660,000.00 -66- ASSETS CURRENT ASSETS Cash: Demand deposits Appropriated funds Investments: Federal Land Bank_ bonds — at face value Accrued interest Less amount segregated and shown below Accounts receivable: From customers Due from other funds Inventories• Meters — at cost Supplies — estimated Prepaid insurance OTHER ASSETS Segregated inv -estments — reserve for debt retirement FIXED ASSETS — Note A Land Land improvements Distribution system Buildings and equipment Less allowance for depreciation $ 100,000.00 2,338.80 102,338.80 709384.50 47,.100.40 26,606.15 $ 13,304.40 1,750.00 TOTAL CURRENT ASSETS $ 13,311.01 4,296,247.60 1,720,480.74 $6,030,039.35 14194,145.73 $ 27,556.38 WATERWORKS BALANCE VILLAGE December $ 41,098.96 22,091.75 $ 63,190.71 31,954.30 73;706.55 15,054.40 449.88 $ 184,355.84 70,384.50 4,835,893.62 4.863,450.00 $5,118,190.34 0 FUND SHEET OF EDINA 31, 1966 LIABILITIES AND SURPLUS CURRENT LIABILITIES Accounts payable and accrued expenses: Trade accounts Salaries and wages Interest Current maturities of bonds payable LONG —TERM DEBT Bonds payable —,Note B Less current maturities — shown above SURPLUS Invested in fixed assets Revaluation of fixed assets.— Note A Contributed by special assessments — Note A Contributed by General Fund Earned: Appropriated Unappropriated See notes to balance sheet. 3,682.44 214.28 4,479.00 $ 8,375.72 48,000.06 TOTAL CURRENT LIABILITIES 56,375.72 719,000.00 48,000.00 671,000.00 724,937.97 26,649.54 3,380,849.94 12,012.55 $4,144,450.00 $ 92,476.25 153,888.37 246,364.62 4,390,814.62 $5,118,190.34 -67- 1� I� WATERWORKS FUND NOTES TO BALANCE SHEET VILLAGE OF EDINA December 31, 1966 Note A — The original utility purchased in 1947 „is, carried at amounts.based on appraisal at time of acquisition. Subsequent purchases are carried at,cost. Watermains.for which the benefited property owners have been.assessed.are..carried at construction cost with contra — credit to surplus contributed by special`"assessments.' Each of'the afore— mentioned amounts has.been reduced by the depreciation thereon charged to in- come, which income has been transferred to earned surplus. Note B — The annual maturities, due dates and interest rates,of the:.bonds payable are as follows: Annual maturities and interest dates Interest rates Annual amount of maturities: 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1947 Issue March 1 and September l 2..75% $10,000.00 1953 Issue March l and September 1 2.75% $10,000.00 $10,000000 $10,000.00 Bonds of the 1947, 1953 and 1955 issues are subject to redemption and prepayment at the option of the Village on any interest date. Bonds maturing after March 1, 1970 of the 1959 issue shall be subject to redemption and prepayment at the option of the Village on said date and any interest date thereafter, at a price of par and accrued interest, plus a premium of $10.00 for each bond redeemed, and in inverse order of their serial number. Thirty days prior notice must be given to bondholders. 1955 Issue 1959 Issue March 1 and March 1 and September 1 September 1 2.50% 3.10 %, 3.40%, and 3.50% $10,000.00 30,000.00 30,000.00 20,000.00 $90,000.00 $ 8,000.00 8,000.00 8,000.00 15,000.00 35,000.00 35,000.00 35,000.00 35,000.00 40,000.00 $219,000.00 1963 Issue June l and December 1 2.50%, 2.80 %9 3.00 %, 3.20 %9 and 3.30% $ 10,000.00 10,000.00 10,000.00 10,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 50,000.00 50,000.00 50,000.00 50,000.00 50,000.00 $390,000.00 Total $ 48,000.00 48,000.00 48,000.00 45,000.00 55,000.00 55,000.00 55,000.00 55,000.00 60,000.00 50,000.00 50,000,00 50,000.00 50,000.00 50,000.00 $719,000..00 WATERWORKS FUND STATEMENT OF SURPLUS VILLAGE OF EDINA Year Ended December 31, 1966 Earned Surplus Unappropriated Appropriated $ 32,641.39 $94,021.25 42,460.73 $ 75,102.12 15M26.41 026 .'41 48,000.00# 27,585.16# 1,545.00 $153,888-.37 94,021.25.. 1.545.00# $92,476.25 Invested in Fixed Assets $724,719.42 $724,71942 75,366.61# 48,000.00 27,585.16 $724,937.97 Contributed by Assessments; $3,099,04757 i i 358,277.58 3,457,300.15 76,450.21# $3,380,849.94 Contributed by General Fund $12,340.16 $12,340.16 327.61# $12,012.55 Revaluation $27,331.52 $27,331.52 681.983E $26,649.54 Total Balance at January 1, 1966 $3,990,076.31 Additions: Watermains contributed by special .assessments 358,277.58 Net income for year 42.460.73 4,390,814.62 Transfers: - Provision for depreciation — Bonds retired — Additions to fixed assets — Decrease in appropriation of funds for reserve for debt 'retirement — Balance at December 31, 1966 $4,390,814.62 # Indicates.red figure. Earned Surplus Unappropriated Appropriated $ 32,641.39 $94,021.25 42,460.73 $ 75,102.12 15M26.41 026 .'41 48,000.00# 27,585.16# 1,545.00 $153,888-.37 94,021.25.. 1.545.00# $92,476.25 Invested in Fixed Assets $724,719.42 $724,71942 75,366.61# 48,000.00 27,585.16 $724,937.97 Contributed by Assessments; $3,099,04757 i i 358,277.58 3,457,300.15 76,450.21# $3,380,849.94 Contributed by General Fund $12,340.16 $12,340.16 327.61# $12,012.55 Revaluation $27,331.52 $27,331.52 681.983E $26,649.54 WATERWORKS FUND STATEMENT OF INCOME AND EXPENSE Number of meters in uses At end of year At beginning -of year Income: Sale of meters Less cost of meters sold GROSS PROFIT ON-METERS Water sales Penalties Water connection permits Tapping fees Use of hydrants Miscellaneous Expenses: Pumping: Labor Power and light Supplies and repairs Buildings: Labor Fuel Supplies Telephone Repairs Insurance Water purchased Provision 'for 8epreciation Distribution: Labor Materials and supplies Operation ofl` meters: Laborr Supplies and expenses Provision for-,depreciation Repairs Tanks, towers and reservoir: Labor Power and. 1-ea-se lines Landscaping Supplies and expenses Provision for depreciation Insurance VILLAGE OF EDINA Year Ended December 31 Increase 1966 1965 Decrease* 7,797 7,446 20,611.00 17,157.00 3,454.00 321,107.00 5,327.00 1 ., 885.00 234.00 11,296.00 1.420.73 344,723.73 $ 69611.00 37,914.00 253.00 1,230.00 1,891.00 380.00 204.00 186.00 617.00 627.00 27.262.00 $ 77,175.00 7,446 7,032 28,784.00 229576.92 69207.08 239,453.67 4,161.42 29281.00 158.00 10,696-94 627,43 $263,585.54 $ 6,600.74 309345.58 270.44 3,32835 1,926.o6 721.73 201.00 269-55 341.60 504.18 24,605.13 $ 69,114.36 351 414 8,173.00# 5x419.92# $ 29753.08# 819653.33 1,165.58 396.00* 76.00 599.06 793030 $819138619 $ 10.26 7,568°42 17°44# 2,098.35# 35.06* 341.73* 3.00 83.55# 275040 122.82 2,656087 $ 89060064 $ 7,829.00 $ 8,863014 $ 19034014# 5,385.00 3,186.60 29198,40 Per Cent to Gross- income 1966 1965 100.00% 100.00% 22.39 26.22 4,109.00 3,329 87 779-13 1,120.00 613.17 506.83 82,077.00 - 76,058.66 69018,34 109722.00 5,127.57 5,594.43 $111,242.00 $ 97,179.01 $14906299 32.27 36.87 $ 401.00-. $ 660.20 $ 259020# 1,502°00 1,273.16 228.84 ® 49840 49840# ® 488.01 488001* 22,668.00 22,656046 11054' 380.00 523.19 143.19* $ 24,951.00 $ 26,099.42 $ 1,148042* 7.24 9.90 -70- WATERWORKS FUND STATEMENT OF INCOME AND EXPENSE (Cont'd) Expenses (cont'd): Water treatment: Labor Supplies and expense Provision 'fox, depreciation Vehicle operations:' Allocated from equipment pool Provision for depreciation Administrative and general: Salaries: Superintendent Clerical Meter - reading Meter reading supplies Office supplies_, postage, telephone, hospitalization, etc. Supervision Provision for depreciation Professional services Supplies and expenses Building rental TOTAL EXPENSES OPERATING INCOME Income on investments Other deductions: Interest on bonds Fiscal agent service charge NET (LOSS) INCOME Depreciation charged to opera- tions included in expenses Year Ended December 31 1966 1965 2,239.00 11,018x00 18,616000 31,873.00 4,740.00 1.538.00 6-, 278.00 $ 9;384.00 4,494.00 5,943.00 118.0V 5,580'.00 3,000.00 664.00' 1;150:00 633.00 5+0.00 $ 31,506.00 $283,025.00 '$ 61,698.73 4,195.00 $ 65,893.73 4,261.39 10;965.86 ,14,732.27 $ 29,959.52 4,080.00 1,624.60 $ 5,704.60 $ 9,058.50 4,300.95 4,530.70 47.95 5,280.00- 3,900.00 654.60 4,195.88 942.64 480.00 $ 33,391.22 $261.448.13 2,137.41_- 2,025.65 $ 4,163.06 $ 23,309.00 $ 24,379.41 124.00 .104.30 $ 23,433.00 24,483.71 $ 42,460.73 ($ 20,320.65) $152,827.00 $140,331.72 Increase Decrease* 2,022,39# 52.14 3,883.73 $ 1,913.48 660.00 86.60# 573.40 $ 325.50 193.05 1,412.30 70.05 300.00 900.00* 9.40 3,045.88# 309.64# 60.00 $ 1,885.22# $21,576.87 $59,561.32 2,169.35 $61,730.67 Per Cent to Gross °Income 1966_ 1965 9.24% 11.37% 1.82 2.16 .1 82.10 17.90% 1.2'2 19.17% 12.67 99.19% .81% .77 1.58% $ 1,070.41# 19.70 1' 0 0.71# 6080 9.29 $62,781.38 12.32% 7.71% $12,493.28 -71- WATERWORKS FUND ANALYSIS OF CHANGE IN CASH BALANCE VILLAGE OF EDINA Year Ended December 31, 1966 Balance at January l,'1966 Additions: Collections on accounts receivable Collection on amount due from other funds Investments sold ' Income on investments Sundry sales and services Sale of water meters Decrease in prepaid insurance Other Deductions: Payment to fiscal agents: Principal Interest Service charge Meters purchased Additions to fixed assets Less contributed by special assessments Decrease in amounts payable: Balance at January 1,1966: Trade accounts Accrued payroll Due to General Fund Balance at December 31, 1966: Trade accounts Accrued payroll Investments purchased Operating expenses Less provision for depreciation $ 48,000.00 23,673.00 124.00 $385,862.74 358,277.58 $ 17,470.64 424.69 31.50 $ 17,926.83 $ 3,682.44 214.28 .3,896.72 $283;025.00 152,826.41 $308,192.77 10,756.94 95,364.17 2,913.49 2,119.00 20,611.00 97.12 1,420.73 $ 71,797.00 19,371.82 27,585.16 14,Q30.11 101,057.29 130,198.59 $ 1,065.64 441,475.22 $442,540.86 Due from other funds at December 31, 1966 $ 26,606.15 Less amount included not requiring cash 11,295.97 15,310.18 379,350.15 Balance at December 31,1966 $ 63,190.71 Summary: Operating Fund $41,098.96 Sinking Fund 22,091.75 TOTAL $63,091.71 —72— WATERWORKS FUND FIXED ASSETS VILLAGE OF EDINA Year Ended December 31, 1966 Land Land improvements Distribution system: Purchased Contributed by special assessments Contributed by General Fund Buildings and equipment: Pumphouses Wells Pumps and piping Tanks, towers and reservoir Office equipment Miscellaneous equipment Water treatment equipment Automobiles and trucks ,Storm sewer Tools TOTAL l. QJ QIA- January 1, 1966 $ 27,556.38 13,153.22 A s s e t s Additions Deductions 157.79 252,164.72.. $ 25,604.99 3,643,819.65 358,277:58 16,380.66 327.61 $3,912,365X3 $383,882.57 $ 247,102.12 $ 9,884.07 278,031-14 11,121.45 114,551°28 5,727.46 566,867 16 22,,668.22 3,186.58 $ 99.38 '11,918.74 432,540.66 .8,932.46 .1,723.00 57,318.69 350.00 $1,720,798.83 $ 1,822.38 $5,673,873.46 $385,862.74 Balance December 31, 1966 $ 27;556.38 13,311.01 i 277,769.71 4,002,097.23 16 80.66 - 4,296,247.60 $ 247,102.12 i 278,031.14 114,551.28 566,867.16 3,285.96 1 11,918.74 432,540.66 $2,140.47 j 8,514.99 57,318.69 350.00 $2,140.47 $1,720,480.74' $2,140.47 j $6,057,595.73 Allowance for Deareciation Balance Balance January 1, December 31, 1966 Additions Deductions 1966 $ - - 3,298.17 $ 529.85 3,828.02 $ 95,998,38 5,299.34 544,797.08 76,450.21 4,040.50 327.61 644,835.96 $ 82,077.16 $ 439612.52 $ 9,884.07 61,714.30 11,121.45 56,.131.90 5,727.46 176,409.13 22,,668.22 2,625.75 131.95 4,691.91 1,057.11 39,328.87 17,469.64 7,671.21 1013.13 3,140.07 . 1,146.37 $ 395,325.66 1 70,219.40 $1,043,459079 $152,826.41 i i ;$2,140.47 210.7 $2,140.47 $ 101,297.72 621, 247.29 4.368.11 $ 726,913.12 $ 53,496.59 72,835.75 61,859.36 199,077.35 2,757.70 5,749.02 56,798.51 6,543°87 4,286.44 $ 463,404.59 $1,194,145.73 Net Balance December 31, 1966 $ 27,556.38 9,482.99::' $ 176,471.99 3080,849.94 12,012.55 $3,569,334.48 $ 193,605.53. 205,195.39 52,691.92 367,789.81 528.26 6- 169.72 375,742.15 1,971.12 53,032.25 350.00 $1,257,076,15 $4,863,450.00 -73- SEWER RENTAL FUND BALANCE SHEET VILLAGE OF EDINA December 31, 1966 ASSETS CURRENT ASSETS Cash — demand deposits Investments° United States Treasury bills — at cost Accrued interest Receivables: From customers Assessments receivable Prepaid insurance FIXED ASSETS — on the basis of cost Land improvements Furniture and fixtures Trucks Equipment Less allowance for depreciation 4479135.00 716°25 20,.988.40 $ 7,102.29 47,851.25 347.82 21,336.22 24.00 TOTAL CURRENT ASSETS:' $ 76,313.76 $ 3,944.08 1,994.62 4,599-03 25,871.90 $36,409.63 23.212.86 13,196.77 $89,510.53 LIABILITIES AND SURPLUS CURRENT LIABILITIES Trade accounts- payable $103,340.37 Accrued payroll 167.43 TOTAL CURRENT LIABILITIES $103,507.80 SURPLUS Invested in fixed assets $13,196.77 Earned — surplus deficit (deduction) ( 27.194.04) ( 13,997.27) $ 89,510.53 -74- SEWER RENTAL FUND STATEMENT OF SURPLUS VILLAGE OF EDINA Year Ended December 31, 1966 Balance at January 1, 1966 Deductions: 'Net-loss for-year Transfersa Provision for depreciation Additions to fixed assets Balance at December 31, 1966 # Indicates red figure. Invested in Fixed -Available Assets $26,501.33* '$13,801.07 1,297.01# $279798.34# $ 2,678.13 2,073.83# 684.30 $27,194-04*. $13,801.07 $ 2,678.13# 2,073.83 $ 604.30# $13,196.77 -75® SEWER RENTAL FUND STATEMENT OF INCOME AND EXPENSE VILLAGE OF EDINA Year Ended December 31 1966 1965 Operating incomes Service charges and penalties $118,166.07 $106,198.74 -Expenses: Operating: Sewer maintenance and treatment Labbr Supplies Repairs Water Power Provision for depreciation Other Vehicle operations Allocated from equipment pool Provision for depreciation Administration and generals Clerical' and supervision Auditing Supplies, telephone, postage and retirement Building rental Provision for depreciation Professional services TOTAL EXPENSES OPERATING LOSS Other incomes Income on investments Miscellaneous Depreciation charges to operations included in expenses $ 63,233.00 26,682.00 3,194.00 5,270.00 200.00 4,395.00 2,092.13 479.87 $105,546.00 $ 63,289.27 26,803.30 4,169.83 1,996.95 200.00 3,928.10 2,317.45 10.5.51 $102,810.41 Per Cent to Increase Operating Income Decrease* 1966 1965 $11,967.33 100.0% 100.0% $ 56.27# 121.30# 975.83# 3,273.05 466.90 225.32# 374-36 2,735.59 $ 3,240.00 $ 3,084.00 $ 156.00 89.3% 96.8% 432.00 260.00 172.00 $ 3,672.00 $ 3,344.00 $ 328.00 3.1 3.2 $ 5,091.00 $ 5020.00 $ 429.00# 300.00 300.00 - 4,980.00 4,968.00 12.00 420.00 300.00 120.00 154.00 147.62 6.38 600.00 355.15 244.85 $ 11,545.00 $ 11,590.77 45.77# 9.8 10. $120,763.00 $117,745.18 $ 3,017.82 102.2% 110. $ 2,596.93 $ 11,546.44 $ 8,949.51# 2.2% 10.9% $ 1,049.00 $ 719.79 $ 329.21 250.92 7.06 243.86 $ 1,299.92 726.85 $ 573.07 NET LOSS $ 19297.01 $ 10,819.59 $ 9,522.58# $ 2,678.13 $ 2,725.07 $ 46.94# 1.1 .7 1.1% 10.2% -76- SEWER RENTAL FUND ANALYSIS OF CHANGE IN CASH BALANCE VILLAGE OF EDINA Year Ended December 31, 1966 Balance at January 1, 1966 Additions: Collections on accounts receivable Tax settlements received Sale of investments Income on investments Payable at December 31, 1966: 'Trade accounts Accrued payroll Less payables at January 1, 1966: Trade accounts Accrued payroll Due to other funds Other Deductions: Expenses for the year Less provision for depreciation not requiring cash Investments purchased Purchase of fixed assets Other $115,397.23 532.70 10,000.00 1,049.00 $103,340.37 167.43 $103,507.80 $87,911.02 237.56 54.74 88,203.32 15,304.48 250.92 $120,763.00 $ 42,603.58 142,534.33 $185,137.91 2,678.13 118,084.87 57,851.25 2,073.83 25.67 178,035.62 Balance at December 31, 1966 $ 7,102.29 —77— ASSETS Land improvements Furniture and fixtures Trucks Equipment ALLOWANCE'FOR DEPRECIATION Land improvements ` Furniture and-fixtures Trucks Equipment SEWER RENTAL FUND, FIXED ASSETS VILLAGE OF EDINA Year Ended December 31, 1966 NET BALANCE Balance January 1, 1966 $ 3,696.62 1,895.25 4,547.86 25,871.90 $36,011.63 $ 912.32 1,298.03 3,637.86 16,362.35 $22,210.56 $13,801.07 Additions Deductions $ 247.46 99.37 1,727.00 $1,675.83 $2,073.83 $1,675.83 $ 152.81 153.82 432.70 $1,675.83 1,938.80 $2,678.13 $1,675.83 Balance December 31, `1966 3;944.08 1,994.62 4,599.03 25,871.90 $36,409.63 $ 1,065,13 1,7+51.85 2;394.73 18,301.15 $23,212.86 $13,196.77 —78— LIQUOR DISPENSARY FUND BALANCE- SHEET VILLAGE OF EDINA December 31, 1966 ASSETS CURRENT ASSETS Cash: Demand deposits Deposits in transit Working funds Investments — at cost-: Village of Edina- Waterworks Revenue Bonds of 1959 Accrued interest Due from Golf Course Fund Merchandise inventory - at cost (first —in, first —out method): Liquor Wine Beer Mix and miscellaneous Prepaid expenses: Unexpired insurance Supply inventory LOAN TO GOLF COURSE FUND FIXED ASSETS — at cost Land Land improvements Building Furniture, fixtures and equipment Leasehold improvements Less allowance for depreciation and amortization LIABILITIES AND SURPLUS CURRENT LIABILITIES Trade accounts payable - Accrued payroll- SURPLUS Invested in fixed assets Available. $132,963.71 33,737064 $166,701.35 3,000,00 $ 26,861053 311067 $230,65392 35,130000 9,25456 2,417,51 $ 3,273.25 400.00 TOTAL CURRENT ASSETS $ 16,500000 $ 3,412066 75,331,92 47,107056 28,172,74 $154,024.88 $169,701.35 27,173620 6,542°00 277,455.99 3,67325 $484,545°79 J 185,000.00 91,978.05 62,046083 78,546083 $748,092062 $ 20,428-37 M57.32 TOTAL CURRENT LIABILITIES $ 23,485.72 $ 78,546083 646,060007 724,606090 $748,092062 —79— LIQUOR DISPENSARY FUND STATEMENT OF SURPLUS VILLAGE OF EDINA Year Ended December 31, 1966 Balance at January 1, 1966 Additions: Net income for year Deductions: Transfer to General Fund Transfer to Park Fund Transfer to Park Construction Fund Transfers: Provision for depreciation Additions to fixed assets Tota l $658;690.33 287,916.57 $946,606:90 $ 70,700000 64,300.00 87,000.00 $222,000.00 $724,606.90 Balance at December 31, 1966 $724,606.90 * Indicates red figure. Available $571,322.38 287,916.57 $859,238°95 $ 70,700.00 64,300.00 87,000.00 $222,000.00 $637,238°95 10,945.99 2,124.87# $646,060,07 Invested in Fixed Assets $87,367.95 $87,367.95 $ $87,367.95 10,945.99# 2,124.87 $78,546.83 ff-*M LIQUOR DISPENSARY FUND STATEMENT OF INCOME AND EXPENSE VILLAGE OF EDINA Sales: Liquor Wine Beer Mix and miscellaneous Less bottle refunds NET SALES Cost of sales: Inventory at January 1st Purchases Inventory at December 31st GROSS MARGIN Operating expenses: Selling Occupancy Administrative TOTAL OPERATING EXPENSES NET OPERATING INCOME Other income: Cash discount Cash over or (under) Other Income on investments Depreciation and amortization included in expenses Year Ended December 31 Per Cent to Net Sales 1 9 6 6 1965 Increase 1 9 6 6 1965 50th Street Southdale Grandview Total Total Decrease* 50th Street Southdale Grandview Total Total $546,017.00 83,897.00 134,151.00 15,336.00 $779,401.00 2,946.00 $776,455.00 $115,905.73 572,961.13 $688,866.86 106 2.86 M 81 .00 194,521.00 $ 30,371.00 15,440.00 13.872.00 $ 59.683.00 $134,838.00 3,072.00 178.00 295.57 $138,383.57 $ 5,497.95 $403,393.00 75,818.00 67,817.00 7,798.00 $554,826.00 2,138.00 $552,688.00 $ 93,919.61 394,423-19 488,342.80 76,328 80 8412,014 .00 $140,674.00 $ 21,582.00 20,246.00 13,676.00 $ 55.504.00 $ 85,170.00 2,122.00 27.00 $280,777.00 45,041.00 69,235.00 11.013.00 $406,066.00 2,574.00 403,492.00 $ 87,297.66 307,545.67 $394,843.33 94,194-33 $300,649.00 $102,843.00 $ 20,524.00 19,502.00 12,343.00 $ 52,369.00 $ 50,474.00 1,603.00 40.00) $ 87,319.00 $ 52,037.00 NET INCOME $1,230,187.00 204,756.00 271,203.00 34.147.00 $1,740,293.00 7.658.00 1,732,635.00 $ 297,123.00 1,274,929.99 $1,572,052.99 277,455.99 $1.294.597.00 $ 438,038.00 $ 72,477.00 55,188.00 39,891.00 $ 167,556.00 $ 270,482.00 6,797.00 165.00 295.57 $1,264,933.76 209,923.93 273,531.86 31.269.40 $1,779,658.95 6,072.53 1,773,586.42 $ 307,760.28 1,310,617.84 $1,618,378.12 297,123.00 $1,321,255.12 $ 452,331.30 $34,-746.76# 5,167.93# 2,328.86# 2.877.60 $39,365.95# 1,585.47 $40,951.42# $10,637.28# 35,687.85# $46,325.13* 195667.01# $26,658.12# $14,293.30# 100.00% 100.00% 100.00% 100.00% 100.00% 74.95 74-55 74.51 74.72 74.50 25.05% 25.45% 25.49% 25.28% 25.50% $ 74,799.68 $ 2,322.68# 3.91% 3.90% 5.09% 4.18% 4.21% 53,361.50 1,826.50 1.99 3.66 4.83 3.19 3.01 36,569.24 3,321.76 1.79 '2.48 3.06 2. 0 2.06 9 $ 164,730.42 $ 2,825.58 7.6 10.0 12. 98% .28 $ 287,600.88 $17,118.88# 17.36 15.41% 12 .51% 15.61% 16:22% 6,867.93 70.93# .40 -.39 .39 .39 .39 223.22 58.22# .02 .01 .01 192.11 103.46 .04 .02 .O1 $ 277,739.57 $ 294,884.14 $17,144.57# 17.82% 10,177.00 8,023.76 2,153.24 $ 287,916.57 $ 2,205.00 $ 3,243:00 $ 10,945.99 $ 302,907.90 $14,991.33# $ 10,943.99 $ 2.00 - 15.80% 12.90% 16.03% 16.63% -81- i LIQUOR DISPENSARY FUND OPERATING EXPENSES VILLAGE OF EDINA , Selling: Salaries and wages .Supplies Licenses and dues Pro -rata promotion Service contracts Occupancy: Salaries and wages Rent Telephone Supplies. Light and power Maintenance - refrigeration equipment Heat Laundry and rug service Burglar alarm _Insurance . Share of maintenance parking lot and traffic directing Repairs and maintenance Provision for depreciation Rubbish hauling Janitorial services Miscellaneous Replacement - heating system. Administrative: Salaries and wages Supplies Professional services Allocated expenses - retirement, insurance, office supplies, etc.. Miscellaneous i cai ciiucu 1. 9 6 6 50th Streit Southdale Grandview Total $29.,.032.00 $20,278.00 $19,758.00 $ 69,06.8000 1,268.00 1,056.00 652.00 2,976.00 71.00 18.00 18.00 107.00 182.00 182.00 48.00 96.00 144000, $30,371':00 $21,582.00 $20,524.00 $ 72,477.00. 597.00 597:00 216.01 36.00 245.00 461.01. 5,497.99 $14,652.00 $10,596.00 25;248.00 $ 336.00 276.00 252.00 864.00 64.00 11.00 65.00 .140.00 1,658.00 1,060.00 1,414.00 4;132.00 388.00 36.00 324.47' 424.00 295.00 $20,246.00 444.00. :.739.00. 523.00 355,.00 516.00 1,394.00 179.00 96.00 .275.00 19986.00 1,399.00 1,659.00 .5,044.00 597.00 597:00 216.01 36.00 245.00 461.01. 5,497.99 2,205.00 3,243.00 109945:99 420.00 240.00 300.00 960.00 690.00 40.00 .730.00 75.00 12.00 35.00 122.00 3,112.00 324.47' 3,112.00 $15,440.00 $20,246.00 $19,502,00 $'55,188.00 $10,279.00 $10,413.00 $ 9,943.00 $ 30,635.00 16.00 60;00 16.00 833.00 733-00 584.00 2,150.00 29640.00 2,100.00 1,800.00 6,540.00 104.00 430.00 16.00 -550;00 $13,872.00 $13,676.00 $12,343.00 $ 39,891.00 TOTAL $599683.00 $559504.00 $52,369.00 $167,556.00 1 9 6 5 50th Street Southdale Grandview. Total` $29,310.45 $23,164.78 $18,637.51 $ 71,112674 1,418.40 1,120.91 619.99 3,159.30 43.00 23000 23.00 89.00 191.16 191.16 117076 68.31 61.itl 247.48 30.9889.61 $249568.16 19,341.91 $ 74,799.68 $. 170.14 $ 37.93 $ 208.07 $14,152x02. 10,623.06 24,775.08 327.95 272.33 227.03 827.31 347.18 116.72 464.16 928.06 19483.92 1,079.71 1,591.00 4x154.63 405.90 36.00 441.90 500.68 445.97 946-65 512.50 304.99 377.13 1,194. 62 ' 173.73 96.00 269.73 29222053 1,850.28 1030.37 5,403.18 710.35 324.47' 1,034.82 5,546.42 2,215..25 3,182.32 10,943.99 300,00 240.00 300;00 840.00 730.00 60;00 790.00 .262.44 10.00 331.02 603.46 i $13,693.74 $2031277°30 $199390.46 $ 531361.50 $10,159.12 $ 9,559.09 $ 7,939.98 $ 27,658.19 301.90 334.30 299.09 935.29 846.04 746.06 512.50 21104.60 2,712.00 2,676.00 299.09# 5,388.00 158.73 324.43 71.50 483.16 $14,177.79 913.622.88 $ 8,751.57 $ 36,569.24 $58,761.14 $5$.,485.34 847,483.94 $164,730.42 Increasea-Decrease* '50th Street Southdale Grandview Total $ 278.45# $29886.78# $1,120049 $2:,044.74# 150.40# 64.91# 32.01 183.30# 28000 5.00# 5.00# .18.00 9.16# 9..16# 117.76# 20.31# 34.59 103.48# $ 518.61# $29986.16# $1;182.09 $2,322.68# $ 170.14# $ 37.93# $- 208.07# $ 499.98 27.06# 472.92 8.05 3.67 24.97 36.69 283.18# 105.72# 399.16# 788.06# 174.08 19.71# 177.00* 22.63# 17.90# .17.90# 205.68# 1.97# 207.65# '10.50 50.01. 138,87 199-38 5.27 5.27 236.53* 451.28# 328.63 359.18* 597:.00 597.00 494.34* 79.47* 573.81# 48.43# 10025 *. ,. 60.68 2.00 120.00 120.00 40.00# 20.00* 60.00# 187.44# 2.00 296.02# 481.46# 3,112.00 3,112;00 $1,746.26 $ 31.30# $ 111.54 $1,826.50 $ 119.88 $ 853.91 $2,003.02, $2,976.81 285.90* 334.30# 299.09# 919.29# 13.04# 13.06# 71.50 45.40 72.00# 576.00# 19800.00 1,152.00 54.73# 105.57 16.00 66.8 0 _. 7 * 36.12 $3i591. 21.76 $ 921.86 $2,981.34# $4,885.06 $2,825.58 -82- LIQUOR DISPENSARY FUND ANALYSIS OF CHANGE IN CASH BALANCE VILLAGE OF EDINA Year Ended December 31, 1966 Balance at January '19 1966 Additions; .Gross sales Sale of investments Cash discounts Interest received on,investments Payment received on accruals at December 319 1965 Decrease in prepaid insurance Other revenue $1,740,293.00 85,191.67 6,797.00 3,681000 6,475.00 149.60 460.59 $ 41,283.97 .1,843,047.86 $1,884,331:83 Deductions: Merchandise purchased $1,274,929.99' Bottle refund 7,658.00 Operating expenses $1679556°00 Less depreciation included therein not requiring cash 101945.99 156,610.01 Transfer: General Fund $ 70,700.00 Park Fund 64,300.00 Park Construction Fund 87,000X0 222,000.00 Investments purchased 35,000.00 Additions to fixed assets 2,124.87 Payment made for another fund 67.00, Decrease in liabilities: Balance at January 1, 19660 Trade accounts $ 39,471.11 Accrued payroll 2,870.90 Due to General Fund 384.32 8 42,726.33 Balance at December 31, 1966:, Trade accounts $20,428.37 Accrued payroll 3,057.35 23,485.72 19,240.61 1,717,630.48 Balance.at December 31, 1966 $. 166,701.35 —83- LIQUOR DISPENSARY FUND FIXED ASSETS VILLAGE OF EDINA Year Ended December 31, 1966 ASSETS Land Land improvements Building Furniture, fixtures and equipment Leasehold improvements ALLOWANCE FOR DEPRECIATION AND AMORTIZATION Land improvements Building Furniture, fixtures and equipment Leasehold improvements Balance January 1, 1966 $ 16,500.00 3,412.66 75,331.92 44,982.69 28,172.74 $168,400001 $ 1,282.90 40,667.23 22,390-99 16,690094 $ 81,032.06 NET BALANCE $ 87,367.95 Additions $ 2,124.87 $ 2,124.87 $ 139.93 3,900.73 3,602.37 3,302.96 $10,945099 Balance December 31, 1966 16,500.00 3,412.66 75,331.92 47,107.56 28,172.74 $170,524.88 $ 1,422.83 44,567.96 25,993-36 19,99390 $ 91,978.05 $ 78,546.83 -84- I� CASH — ALL FUNDS VILLAGE OF EDINA December 31, 1966 Indicates red figure. —85— Demand and Time Working Deposits Funds Total Fund: General: Current $180,916.96 $ 550.00 $181,466.96 Poor: Current 5,846.34 5,846.34 Perk: Current 30,732.97 30,732.97 Swimming Pool: - . Current 3,538.91# 3,538.91# Golf Course: Current 3,951.16 50.00 4,001.16 Recreation Center: Current 46,302.04 '700.00 -47,002.04 Park Sinking: For bonds and interest 74,842.22 74,842.22 Park Construction: For construction 43,544.40 43,544.40 Improvement: Current $306,028.84 "For bond interest 70,689.38 For construction 352,075.85* $ 24,642.37 24,642.37 Waterworks: Current $ 41,098.96 Appropriated 22,091.75 $ 63,190.71 63,_190.71 Sewer Rental: Current 7,102.29 7,102.29 Liquor Dispensary: Current 166,701.35 3,000.00 169.701.35 TOTAL $644,233.90 $4,300-.00 $648,533.90 Depository: Demand deposits:. First Edina National Bank $195,511.18 First Southdale National Bank 8,901.92 Midland National Bank 4.820.80 $209,233.90 Time deposits: First Edina National Bank $135,000.00 First Southdale National Bank 100,000.00 Franklin National Bank 100,000.00 Midland National Bank 100,000.00 $435,000.00 .,Working funds 4,300.00 $648,533.90 Indicates red figure. —85— SECURITY FOR DEPOSITS VILLAGE OF EDINA December 31, 1966 First Edina- National Bank - demand deposit do - certificate of deposit First Southdale National Bank — demand deposit do certificate of deposit Midland National Bank — demand deposit do certificate of deposit Franklin National Bank — certificate of deposit Deposits Book Bank $195,511.18 $401,437.03 135,000.00 1359000.00 TOTAL $330,511.18 $536,437.03 $ 8,901.92 $ 26,362.35 100,000.00 100,000.00 TOTAL $108,901.92 $126,362.35 $ 4,820.80 $ 4,820.80 100,000.00 100,000.00 TOTAL TOTAL $104,820.80 $100,000.00 $100,000.00 $104,820.80 $100,000.00 $100,000.00 Securitv for Deposits Principal Amount Description Due Date $250,000.00 United States Treasury bonds November 15, 1973. 2009000.00 United States Treasury notes February 15, 1967 15.000.00 Federal Deposit Insurance $465,000.00 $ 50,000.00. United States Treasury notes August . 15, 1968 50,000.00 United States Treasury notes November 15, 1970 1109000.00 United States Treasury bonds September 15, 1972 100,000.00 United States Treasury bonds August 15, 1973 100,000.00 UnitediStates Treasury, bonds February 15, 1974 159000.00 Federal Deposit Insurance $425,000.00 $ 25,000.00 I.S.D. #275 Golden Valley July 19 1979 1 50,000°00 I.S.D. #423 Hutchinson March. 1, 1980 509000.00 I.S.D. #742 St. Cloud, February 19 1980 25,000.00 Village of Edina Improvement bonds September. 1, 1969 25,000.00 Village of Edina Improvement bonds September 1, 1970 /+09000°00 Village of Edina Improvement bonds January 1, 1971 35;000.00 I.S.D. #_273 Edina— Morningside May 1, 1975 15,000.00 Federal Deposit Insurance $265,000.00 $100,000.00 United States Treasury.notes February 15, 1968 15,000.00 Federal Deposit Insurance $115,000.00 I i I -86- Description United States Treasury bills United States Treasury notes do Federal Intermediate Credit INVESTMENTS VILLAGE OF EDINA December..31, 1966 Maturity September 30, 1967 November 15, 1970 February ,15, 1970 Interest Rate Face Amount Discounted $ 500;000.00 5 %_ 500;000'.00 4% 150.000.00 $ 650,000.00 Bank Debentures March 1, 1967 5.60% do April 3, 1967 5.60 do May 1, 1967 5.86 do, June 1, 1967 6.00 Federal Land Bank Village of Edina, Minnesota: 1955 Improvement Bonds 1957 Improvement Bonds 1958 Improvement Bonds 1959 Improvement Bonds 1960 Improvement Bonds 1962 Improvement Bonds 1966 Improvement Bonds 1957 Park Bonds 1962 Park Bonds 1955 Waterworks Revenue Bonds 1959 Waterworks Revenue Bonds Land investments FUND. OWNERSHIP Improvement Funds General Poor Golf Course Park Sinking Park Construction Waterworks Sewer Rental Liquor Dispensary July March March March June September December November March December March September 20, 1976 1, 1977 lj 1974 to 1979 1, 1967 1, 1968 to 1969 1, 1970 1, 1969 to 1970 it 1970 to 1972 1, 1968 to 1970 1, 1969 to 1970 1, 1969 to 1970 1, 1971 to 1974 5.38 2.90% 3.90 2.70 2.75 to 3.75 3.30 2.70 3.90 3.70 2.70 2.50 3.40 to 3.50 TOTAL Face Amount December ,31, 1966 $2,167,503.00 300,000.00 17,000.00 50,000.00 10,000.00 66,000.00 100,000.00 50,000.00 27,000.00 $2,787,503.00 500,000.00 100,000.00 100,000.00 500,000.00 $1,2009000.00 200,000.00 $ 25,000.00 31,000.00 5,000.0o- 23;000.00 32,000.00 25,000.00 20,000.00 6,000.00 20,000.00 17,000.00 27,000.00 $ 231,000.00 6,503.00 $2,787,503.00 Carrying Amount December'31, 1966 $2,167,503.00 287,107.50 17,000.00 47,851.25 10,0T)0.00 66,000.00 102,338.80 47,851.25 27,173.20 $2,7729825.00 —87— TAXABLE VALUATIONS, TAX LEVIES AND RATES Taxable valuation: Real estate Personal property Tax levies extended: Extended in year Collectible in year General Parks Bonds and interest Poor and public nursing Firemen's relief Fire protection Hennepin County park Tax rate by mills: General Parks Bonds and interest - Poor and public nursing Firemen's relief Fire protection Hennepin County park VILLAGE OF EDINA TOTAL TOTAL TOTAL December 31 1966 1965 $41,002,999.00 $35,.250,135.00 3.156.601.00 2.436.976.00 $44,159,600.00 $379687,111.00 1966 1967 i,o96,482.86 86,994.41 62,706.63 15,014.26 4,415.96 13,247.88 4.415.96 $19283,277.96 24.83 1.97 1.42 .34 .10 .30 .10 29.06 1965 1966 934,640.35 75,374.22' 67,836.80 12,436.75 4,145.58 11,306.13 4.522`.45 $ 1,110,262.28 24.80 2.00 1.80 e33 .11 .30 .12 29°46 M OFFICIAL BONDS VILLAGE OF EDINA December 31, 1966 Position On file with Clerk — Trea.surer: Blanket position Blanket position Treasurer Village Clerk Deputy Assessor Deputy Assessor On file with County Auditor: Assessor Name Police . department employees All Village employees not otherwise required by law to be specifically bonded J. N. Dalen Florence B. Hallberg Loukas M. Angelus. Kent Swanson Donald Kearns Bond Expires Amount Surety February 28, 1967 $ 5,000.00 American Casualty Company February 28, 1967 $509000.00' American Casualty Company May 1, 1967 $50,000'.00' American Casualty Company May 1, 1967 500:00 American Casualty Company May 1, 1967 $ 500.00 American Casualty Company May 1, 1967 500.00 American Casualty Company Indefinite 500.00 The Aetna i I I Casualty and Surety Company i -89- INSURANCE COVERAGE VILLAGE OF EDINA December,31, 1966 IN Fire and Extended Coverage Building Contents Other Building and contents (A): Village Hall $456,500 $ 66,000 Library 34,100 Morniiigside municipal buildings 28,350 3,500 Village garage 363,000 22,000 Municipal liquor store - 50th Street 59,500 10,800 Municipal liquor store - Southdale 7,200 Municipal liquor store - Grandview 20,000 Municipal golf course 133,650 99900 Municipal recreation center 3819000 105950(7 Municipal swimming pool 165,000 Water reservoir 330,000 Pumping stations .(location): Wooddale 52,25Q 559000 Halifax 9,900 12,100 South-View Lane 9;900 13,200 Southdale 13,200 139200 Concord. 44,000 779000 Brookv'iew Heights 8,800 13,200 Hansen Road 13,200 17,600 76th Street 53,250 115,000 2nd Street 60,000 103,000 6500'Dewey Hill Road 38,000 13,000 Sherwood 11,000 13,20.0 Water tbwer - Concord Street 1219000 Water tower - 69th Street 198,000 Sanitary sewer lift station 44,000 19,800 Bathhouse 55,000 11,00D Maintenance building -_,golf course 6,600 Inventories: Liquor store - Southdale $ 175,000(D) Liquor store - 5CYth Street 200 °,000(D) Liquor store - Grand'view, 1259000(D) Automotive: Bodily injury $500 1,000,000 Property damage 100-9000 Comprehensive Actual cash value Village liquor stores: Comprehensive glass breakage Actual(B) Liquor liability- 1,000,000(B) Boiler - 50th Street 509000 Business interruption - 50th Street 97,500 Business interruption - Southdale 79,800 Business interruption - Grandview 50,000 IN INSURANCE COVERAGE (Cont'd) Village liquor stores (cont'd): Burglary, robbery and theft — within premises Burglary, robbery and theft — outside premises Burglary, robbery and theft — merchandise Village golf courses Liquor lidbility Burglary,'robbery and theft — within,premises Burglary, robbery and theft 4 outside premises Burglary, robbery and theft m merchandise Boiler` Recreafon center: Business interruption Burglary, robbery and theft — within premises Burglary, robbery and theft — outside premises Boiler" Other insurance: General liability: Automotive non—ownership, independent contractor,-and Village premises — opeiations: Bodily injury Propeity damage Workmen's compensation Edina' Voluriteer" Fire 'Department group accident policy, maximum each fireman Property floater all risk — voting machines Property floater - equipment other than automotive Note A —.90% coinsurance. Note B 50th Street, Southdale and Grandview.. Note C — 40% coinsurance.. Note D — Reporting forme Fire and Extended Coverage Building Contents Other $ 5,000(B) 5,000(B) 7,500(8), (C) 1,000,000 5,000 5,000 4,000(c) 50,000 65,000 2,500 2,500 50,000 $100'/ 1,000,.000 100,000 Statutory 3,000 97,440 Actual cash value —91— ORGANIZATION VILLAGE OF EDINA December 31, 1966 Village Council: Mayor: Arthur C. Bredesen, Jr. Trustees: Frank J. Tupa James Van Valkenburg Hugh J. MacMillan Richard C. Johnson C. Wayne Courtney Village Manager: Warren C. Hyde Village Attorney: William A. Whitlock Clerk :_ Florence Hallberg Treasurer and Finance Director: J. N. Dalen Assessor. :. Donald Kearns Prosecuting Attorney: Walter Gustafson Director of Public Works and Assistant Manager: George C. Hite Elected, Term Re—elected-or Expires ate— appointed'to December 31 December 31 1967 •.: 1966 1969 1967 1968 1970 Appointed by Council 1966 1967 —92