HomeMy WebLinkAbout1971 Financial StatementsAUDITED FINANCIAL STATEMENTS
AND OTHER FINANCIAL INFORMATION
VILLAGE OF EDINA, MINNESOTA
DECEMBER 91, 1971
4r ,
ERNST & ERNST
•'1o•
AUDITED FINANCIAL STATEMENTS
AND OTHER FINANCIAL INFORMATION
VILLAGE OF EDINA, MINNESOTA
December 31, 1971
•
2�
INDEX
ACCOUNTANTS' REPORT ON AUDITED FINANCIAL STATEMENTS .......... PAGE 4
COMMENTS AND ACCOUNTANTS' REPORT ON OTHER FINANCIAL
INFORMATION .................. ............................... 5
FUND BALANCE SHEETS ........... ............................... 10
GENERAL FUND:
BALANCE SHEET ............... ............................... 12
STATEMENT OF SURPLUS ........ ............................... 13
ANALYSIS OF CHANGE IN CASH BALANCE ......................... 14
REVENUE..................... ............................... 15
EXPENDITURES ................ ............................... 16
CENTRAL SERVICES EXPENDITURES .............................. 20
FIXED ASSETS ....................... ...................... 21
BONDS PAYABLE ............... ............................... 22
POOR FUND:
BALANCE SHEET ............... ............................... 23
STATEMENT OF SURPLUS - UNAPPROPRIATED ...................... 24
STATEMENT OF REVENUES AND EXPENDITURES ..................... 24
ANALYSIS OF CHANGE IN CASH BALANCE ......................... 25
PARK FUND:
BALANCE SHEET ............... ............................... 26
STATEMENT OF SURPLUS :....... ............................... 27
ANALYSIS.OF CHANGE IN CASH BALANCE .... :..................... 28
REVENUE.AND EXPENDITURES .... ............................... 29
FIXED ASSETS ................ ............................... 30
SWIMMING POOL FUND:
BALANCE. SHEET ............. ............................... 31
STATEMENT OF SURPLUS ........ ............................... 32
ANALYSIS OF CHANGE IN CASH BALANCE ......................... 33
STATEMENT OF INCOME AND EXPENSE ............................ 34
STATEMENT OF INCOME AND EXPENSE (CONCESSIONS ONLY) ......... 35
FIXED ASSETS ................ ............................... 36
GOLF COURSE FUND:
BALANCE SHEET .............................................. 37
STATEMENT OF SURPLUS.. .... ............................... 38
ANALYSIS OF CHANGE IN CASH BALANCE ......................... 39
STATEMENT OF INCOME AND EXPENSE ............................ 40
STATEMENT OF INCOME AND EXPENSE -OPERATING DEPARTMENTS..... 42
FIXED ASSETS... ........... ............................... 43
BONDS PAYABLE.. ............. ..........:.................... 44
RECREATION,CENTER FUND:
BALANCE SHEET ............... ............................... 45
STATEMENT OF SURPLUS ........ ............................... 46
ANALYSIS OF CHANGE IN CASH BALANCE ......................... 47
STATEMENT OF INCOME AND EXPENSE ............................ 48
FIXED ASSETS ................ ............................... 49
BONDS PAYABLE ............... ............................... 50
eele•
INDEX (Cont'd)
GUN RANGE FUND:
BALANCE SHEET ................... ...........................PAGE 51
STATEMENT OF SURPLUS ........ ............................... 52
STATEMENT OF INCOME AND EXPENSE ............................ 53
ANALYSIS OF CHANGE IN CASH BALANCE ......................... 54
FIXED ASSETS ................ ............................... 55
PARK SINKING FUND:
BALANCE. SHEET ............... ............................... 56
STATEMENT OF SURPLUS ........ ............................... 57
ANALYSIS OF CHANGE IN:CASH BALANCE ......................... 58
BOND AND INTEREST MATURITIES AND DEFERRED TAX LEVIES....... 59
PARK CONSTRUCTION FUND:
BALANCE SHEET ............. ............................... 60
ANALYSIS OF RESERVE FOR CONSTRUCTION ....................... 61
ANALYSIS OF CHANGE IN CASH BALANCE ......................... 62
FIXED ASSETS ................ ............................... 63
IMPROVEMENT FUNDS:
COMBINED BALANCE SHEET.... ....... ....................... 64
STATEMENT OF SURPLUS - UNAPPROPRIATED ...................... 65
ANALYSIS OF CHANGE IN CASH BALANCE ......................... 66
BONDS PAYABLE ............. ............................... 68
WATERWORKS FUND:
BALANCE SHEET ............... ............................... 69
NOTES TO BALANCE SHEET ............................ 70
STATEMENT OF SURPLUS ........ ............................... 71
STATEMENT OF INCOME AND EXPENSE ...........................: 72
ANALYSIS OF CHANGE IN CASH BALANCE ......................... 74
FIXED ASSETS ................ ............................... 75
SEWER RENTAL FUND:
BALANCE SHEET ............... ............................... 76
STATEMENT OF SURPLUS ( DEFICIT ) ............................. 77'
STATEMENT OF INCOME AND EXPENSE ............................ 78
ANALYSIS OF CHANGE IN CASH BALANCE ......................... 79
FIXED ASSETS ................. ............................... 80
LIQUOR DISPENSARY FUND:
BALANCE SHEET ............... ............................... 81
STATEMENT OF SURPLUS ........ ............................... 82
STATEMENT OF INCOME AND EXPENSE ............................ 83
OPERATING EXPENSES .......... ............................... 84
ANALYSIS OF CHANGE IN CASH BALANCE ......................... 85
FIXED ASSETS .................. ............................... 86
GENERAL:
CASH - ALL FUNDS ............ ............................... 87
SECURITY FOR DEPOSITS ....... ............................... 88
INVESTMENTS ................. ............................... 89
TAXABLE VALUATIONS, TAX LEVIES AND RATES ................... 90
OFFICIAL BONDS .............. ............................... 91
INSURANCE COVERAGE .......... ............................... 92
ORGANIZATION ................ ............................... 94
9I.T.fil.T
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, 1971 and the related statements of revenues and
expenditures or income and expense and surplus for the year then ended. Our
examination was made in accordance with generally accepted auditing standards,
and accordingly included such.tests of the accounting records and such other
auditing procedures as we considered necessary in the circumstances.
In our opinion, the 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,.1971 and its various special funds
and.the results of their operations and changes in fund balances for the year
then ended, in conformity with generally accepted accounting principles applied
on a basis consistent with that of the preceding year.
Ju
Minneapolis, Minnesota
May 18,. 1972
-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 expense,
and- surplus arid,., our report .thereon: are presented ".in appropriate; sections-6f this
report. Financial information not specifically referred to above and financial
information contained in the following comments, except the schedules of security
for deposits, taxable valuations, tax levies and rates, official bonds, insurance
coverage and organization, was derived from the accounting records tested by us
as part of the auditing procedures followed in our examination of the aforementioned
financial statements and, in our opinion, it is fairly presented in all material
respects in relation to the financial statements taken as a whole; however, it is
not necessary for a fair presentation of the financial position, results of opera-
tions and changes in fund balances of the Village.
The information shown in the schedules of security for deposits, taxable valuations,
tax levies and rates, official bonds, insurance coverage, and organization was
prepared from information furnished to us by the Village, but we did not make
independent tests of the schedules as they do not involve information which
enters into the financial statements.
The following comments set forth certain auditing procedures and other matters
pertinent to our examination:
Cash on, deposit at December 31, 1971 was reconciled to balances reported directly
to us by the various depositories. Selected cash working funds and cash on hand
for deposit at December 31, 1971 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.
Securities held for investment by the several funds of the Village were inspected
by us or, in the case where securities were held in safekeeping, confirmed to us:
Related interest income computations were tested. The market value of investments
approximates cost.
Amounts receivable from water and sewer rental charges at December 31, 1971 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
satisfaction.
-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 two of the three 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
verified by inspection of contracts, invoices or other data. Allowance for depre-
ciation charged to operating funds of the Village were reviewed by us. As a re�sultr.
of the policy of rounding amounts in the operating accounts to whole dollars, depre-
ciation expense on the fixed asset schedules may not agree with depreciation expense
on the statements of revenue and expenditures and analysis of change in cash balance
by pennies.
We tested accounts payable by direct correspondence and by reference to disburse-
ments subsequent to December 31, 1971.
For all canceled bonds redeemed and paid during 1971, we inspected canceled bonds
or examined proof of payment to the bond paying agent. We inspected interest
coupons redeemed and paid during 1971 on a test basis.
Official minutes of the Village Council for 1971 were read by us.
Copies of licenses and permits issued during the year were compared to recorded
collections on a test basis.
Recreational facilities, except for equipment, of the Swimming Pool fund, Golf
Course Fund, Recreation Center Fund and Gun Range Fund are not depreciated..
COMMENTS ON FINANCIAL STATEMENTS
GENERAL FUND
Detail schedules reflecting activity and status of this fund are shown on pages 12
to 22, inclusive, of this report. During 1971, the Village realized $525,000.00
from the sale of the Library to Hennepin County. The Village has dedicated
these funds to be used for a Cultural Center.
POOR FUND
Reference is made to detail schedules elsewhere in this report as to operations
of this fund. Such details appear on pages 23 to 25, inclusive.
PARK FUND
Reference is made.to detail schedules elsewhere in this report as to operations
of this fund. Such details appear on pages 26 to 30,,in.clusive..
N
SWIMMING POOL FUND
Detail schedules outlining financial operations of this fund are shown on pages 31
to 36, inclusive, of this report. The net income of $741.31 is after the provision
of $5,000.00:for interest on bonded debt issued for the swimming pool facilities,
and the provision of $223.00.for depreciation, computed by the straight line method,
on swimming pool equipment.
GOLF COURSE FUND
Net revenues of the Liquor Dispensary Fund are pledged to secure the payment of
the bond obligations of the Golf Course Fund. Detail schedules outlining financial
operations of this fund are shown on pages 37 to 44, inclusive, of this report. The
net income of $44,816.08 is after the provision of $23,103400 for interest on bonded
deb.t.aissued for the golf course facilities, and the provision of $7,908.89 for
depreciation, computed by the straight line method, on golf course equipment.
$35,000.00 of the bonded debt matured and was redeemed in 1971.
RECREATION CENTER FUND
Net revenues of the Liquor Dispensary Fund are pledged to secure payment of the
bond obligations of the Recreation Center Fund. Detail schedules covering operations
of this fund appear on pages 45'to 50, inclusive. The net income of $24,268.19 is
after the provision of $16,941.00 for interest on bonded debt issued for the recrea-
tional center facilities and the provision of $4,295.00 for depreciation, computed
by the straight line method, on recreational center equipment. $25,000.00 of bonded
debt matured and was redeemed in 1971.
GUN RANGE FUND
Detailed schedules outlining financial operations of this fund appear on pages 51
to 55, inclusive. The net loss of $2,536.64 is after the provision of $29.00 for
depreciation, computed by the straight line method, on gun range equipment.
PARK SINKING FUND
Reference is made to detail schedules on pages 56 to 59, inclusive, of this report
as to the operations of this fund. $40,000.00 of the bonded debt matured and was
redeemed in 1971.
PARK CONSTRUCTION FUND
Reference is made to detail schedules in this report as to operations of this fund.
Such details appear on pages 60 to 63, inclusive. Fixed assets amounting to
$167,238.75 were purchased during the year and a project in Pamela Park completed
at.a cost of $33,792.00 was transferred to the Waterworks Fund. Funds were made
available from $80,000.00 in transfers from the Liquor Dispensary.Fund.
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 64 to
68, inclusive, of this report.
Construction costs incurred by the Village, other than for park purposes, are
accounted.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.
-7-
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.
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 $675,000.00 and $400,000:00 were derived from the sale of
Municipal State -Aid Street Bonds in 1970 and 1971, respectively. The proceeds were
used to finance current construction. The bonds will be redeemed and interest paid
with funds from future State -Aid allotments. The 1970 bonds bear interest at the
rate of 6% and $225,000600 of the issue mature on June l in each of the 3 years
beginning in 1972; $225,000.00 was prepaid in 1971. The 1971 bonds bear interest
at the rate of 5% and $200,000.00 of the issue mature on June 1 of 1975 and 1976.
Advance Funding Highway Bonds in the amount of $2,500,000.00 were sold in 1970.
The proceeds will be advanced to the State Commissioner of Highways to expedite a
highway improvement within the Village. The bonds bear interest at rates from
5.40% to 5.70% and $625,000.00 of the issue mature on January 1 in each of the 4
years beginning in 1974. The bonds will be redeemed and interest paid with funds
from the State Commissioner of Highways out,of the state trunk highway fund.
WATERWORKS FUND
Reference is made to detail schedules elsewhere in-this report as to operations of
this fund. Such details appear on pages 69 to 75,' inclusive. The net income of
$41,291.91 is after the provision of $17,008.00 for interest on bonded debt issued
for the waterworks facilities and the provision of $207,239.00 for depreciation on
the facilities. $55,000.00 of the bonded debt matured and was redeemed in 1971.
SEWER RENTAL FUND
Reference is made to detail schedules elsewhere in this report as to operations of
this fund. Such details appear on pages 76 to•80, inclusive:e.Effective during 1971
the-.Metropolitan Sewer Board purchased and assumed operation of the treatment plants
and trunk sewer lines in the Twin City area. Proceeds from the Village's sale of
affected property are being recognized. in the form of reductions in the Village's
annual charge for sewer treatment over the next 30 years.
LIQUOR DISPENSARY FUND
Reference is made to detail schedules elsewhere in this report as to operations of
this fund. Such details appear on pages 81 to 86, inclusive.
Net income of $448,256.48 for the year is after the provision of $12,317:00 of
depreciation, computed by the straight line method, on liquor store equipment.
Of this amount, $275,000.00 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.
N
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.
Minneapolis, Minnesota
May 18, 1972
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ASSETS
Cash:
Current funds (deficit)
Appropriated
Investments:
United States Treasury notes and United States
Government Agency securities - at face value
or cost
Village of Edina bonds - at face value or cost
Land investment - at cost
Other
Amount segregated and shown below
Receivables:
Taxes and special assessments:
Current
Delinquent
Deferred
Customers
Due from other funds
Due from State Aid Account - State of Minnesota
Miscellaneous receivables
Less allowance for delinquent and uncollectible
taxes
Inventories
Prepaid expenses
Segregated investments for reserve for debt
retirement
Construction in progress
Fixed assets
Unallocated construction costs
Total
$ 1,572,787.30
10,018.75
$ 1,582,806.05
$ 3,076,884.19
966,289.77
73,313.70
995.50
$ 4,117,483.16
70,665.00
$ 4,0461818.16
$ 1,772,199.64
519,402.37
7,782,917..85
139,251.82
890,306.73
850,000.00
182,927.44
$1230137,005.85
996,868.55
$11,140,137.30
424,018.75
5,633.29
70,665.00
2,603,609.80
14,047,944.64
80,687.43
$34,002,320.42
General
$1,142,127.31
$1,142,127.31
$ 73,313.70
995.50
$ 74,309.20
$ 74,309.20
$ 2,357.05
97,891.53
5,654.86
138,620.77
147,152.16
$ 391,676.37
97,891.53
$ 293,784.84
10,000.00
„2,886,,023.74
$4,406,245.09
Poor
$28,113.00
$28,113.00
FUND BALANCE SHEETS
VILLAGE OF EDINA
December 31, 1971
Swimming
Park
Golf Course
($ 22,745.27) ($ 9,525.70) $ 101,643.04
($ 22-,745.27) . ($ 9,525.70) $ 101,643.04
$ 8.,124.91
$ - $ - $ 8,124.91
$ - $ - $ 8,124.91
$ 9,538.81
$ 1,104.85 23,908.20 $ 764.00
25.28
$ 19104.85. $ 33,447.01 $ - $ 789.28
9,538.81
$ 1,104.85 $ 23,908.20 $ - $ 789.28
600.00
456.05
1,630,164.18
$29;217.85 .$1,631,927:11
213,9.80..17 975.545.14
$204,454.47 $1,086,558.42
Recreation
Center
$ 57,564.61
$ 57,564.61
$ 5,115.00
13,580.00
$ 18,695.00
1,896.91
972.50
864,388.48 .
$943,517.50
Park
I
Park
Sewer
Liquor
Sinking
Construction
Gun Range
Improvement
Waterworks
Rental
Dispensary
$117,347..26
;($
200,726.92)
($ 6,416.52)
$
200,561.04
$
311,282.02
.($284,293.49)
$
137,856.92
10,018.75
$117,347.26
I($
r
'200,726.92)
($ 6,416.52)
$
200,561.04
$
321,300.77
($284,293.49)
$
137,856.92
$ 25.,000.00
I
$
2,874,729.99
I
$
126,229.62
$
50,924.58
941,000.00
17,164.86
$ 25,000.00
I $
-
$ -
$
3,815,729.99
$
126,229.62
$ -
$
68,089.44
70,665.00
$ 25,000.00
$
-
$ -
$
3,8L5,729.99
$
55,564.62
$ -
$
68,089.44
$ 71,000.00
$
1,698,842.59
3,023.70
408,948.33
475,000.00
7,302.,262.99
I
!
$
104,195.67
$ 29,941.15
$
59,199.69
205,613.92
13,740.30
$
433,775.00
850,000.00
32,000.00
3,750.00
$549,023.70
$
9131199.69
$ -
$10,469,417.83
$
117,935.97
$ 29,941.15
$
433,775.00
30,323.70
859,114.51
$518,700.00
$.;91,199.69.
$ -
$
9,6103303.32
$
1173,935.97
$ 29,941.15
$
433,775.00
18,487.70
393,034.14
.423.75
768.00
3,012.99
j
70,665.00
469,976.41
2,133,633.39
7082529.61
44,259.31%
6,435,551.64
24,587.79
264,914.,58
80,687.43
$661,047.26
$1,068,978.79
i
$38,266.54
$15,840,915.17
- $7,020,273.70
($229,764.55)
$1,300,683.07
I
I
-10-
Total
General
LIABILITIES,, RESERVES AND SURPLUS
Due to other funds
$ 890,306.73
$ 86,995.04
.Accounts payable
286,572.18
189,560.62
Salaries and wages
32,497.19
13,616.25
Due to Hennepin County
8,969.55
Interest payable
26,277.51
130.00
Deferred income
12,632.00
Construction and other deposits
2995,068.08
9,730.91
Edina Firemen's Relief. Association
48,739.02
48,739.02
Construction contracts
76,827.64
Unexpended contributions
10,091.04
Reserve for future bond interest
123,425.66
Bonds payable
142350,000.00
20,000.00
Reserve for assessment adjustments
138,312.69
Reserve for construction (deficit)
( 78,596.27)
Surplus:
Invested in fixed assets
12,287,555.66
2,886;023.74
Appropriated:
For imprest cash
550.00
550.00
For debt service
169,483.75
For commitments
895.,805.00
895,805.00
Unappropriated.(deficit)
4,423,802.99
255,094.51
$34,002,32.0.42
$4,4061245.09'
Poor
$ 472.52
28,745.33
$29,217.85
FUND BALANCE-SHEETS Contid
Swimming
Recreation
Park
Park
Sewer
Liquor
Park
`Pool
Golf Course
Center
Sinking
Construction
Gun Range
Improvement
Waterworks
Rental
Dispensary
$ 14,181.31
$ 471.00
$ 253,765.00
$3062371.69
$ 8,747.50
$ 3,617.00
$ .580.00:
$ 144,699:46
$ 70,878.73.
42143.56.
202.02
22378.26
9,318.71
62069.44
223.18..
62269.06
I 9,051.15
$ 2,366.17
$ 56;,517.49
7,154..36
1,185.28
2'2396.46
12812.20
12326.99
5,005.65
8,969.55
5,763.34
17,810.00
i 22574.17
12,632.00
j
I
289,337.17
142739.22
622088.42
10.,091.04
i
-
77,555.00
452870.66
6652000.00
.470,000.00
490,000.00
122230,000:00
475.2000.00
138,312.69
( 119,213.67)
.40,617.40
1,630.,164.18
211,980.17
99.2307.45
12163,766.80
44,259,31
5,960,551.64
i
24,587.79
264,914.58
52,300.00
36,500.00
80,683.75
33,807. 3
( 4)
( 10, 198.72)
111 , 929.88
1;227.85 . ,
66,934.76
( 6,795.95)
2,874 750.76
419 722.06
( 258,045.50)
974 245.35.
$1,6312.927.11
$204,454.47
$19086,558.42
,
$661,047.26
I $1,068,978.79
$38,266.54.
$15,840,915.17
$7,020,273.70
l
i
($229,764.55)
$1,300,683.07
GENERAL FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1971
ASSETS
Cash:
Demand deposits
$ 380,561.10
$ 86,995.04
Accounts payable:
Time deposits
625.,000.00
$1,005,561.10
Due to State of Minnesota - automobile
Automobile and drivers license fund
and drivers licenses
136,016.21
Working funds
13,616.25
550.00
$1,142,127.31
Investments - at cost:
Contributions to Edina Library Fund
600.02
Sundry deposits
Land investments
261,646.80
$
73,313.70
Donated securities.
130.00
20,130.00
995.50
74,309.20
Receivables:
Accounts receivable
$
147,152.16
Special assessments - current
$ 2,31357.05
Special assessments - deferred
5,654.86
8,011.91
Due from other funds
138,620.77
293,784.84
Supply inventory - estimated
10,000.00
Taxes receivable - delinquent
$
97,891.53
Less allowance for delinquent taxes
97,891.53
-
Fixed assets
2,886,023.74
$4,406,245.09
LIABILITIES AND SURPLUS
Due to other funds
$ 86,995.04
Accounts payable:
Trade accounts
$ 83,576.07
Due to State of Minnesota - automobile
and drivers licenses
105,984.55
Accrued payroll
13,616.25
Edina Firemen's Relief. Association
48,739.02
Contributions to Edina Library Fund
600.02
Sundry deposits
9,130.89
261,646.80
Bonds payable
$ 20,000.00
Accrued interest payable
130.00
20,130.00
Surplus:
Invested in fixed assets:
Direct $23p847,910.63
Annexed from Morningside 26,150.00
Contributed 11,963.11 $2,886,023.74
Appropriated:
Reserve for commitments 895,805.00
For imprest cash 550.00 3,782,378.74
Unappropriated 255,094.51
$4,406,245.09
-12-
GENERAL FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year Ended December 31, 1971
APPROPRIATED
Balance at January 1,.1971
.Additions:
Transfer from unappropriated surplus
for commitments
Deductions:
Transfer to unappropriated surplus for
Invested in Fixed Assets
Annexed from
Total' Direct Contributed Morningside
$3,421,424.49 $2,866,626..38 $66,963.11 $ 26,150.00
604,822.00
$4,026,246.49
fixed assets - net 73,715.75
Transfer to revenue 170,152.00
Balance at December 31, 1971 $3,782,378,74
UNAPPROPRIATED
Balance at January 1,.1971
Additions:
Revenue - see separate schedule
Installment on voting machines
Less expenditures - see separate schedule
Deductions:
Transfer to revenue
Appropriated
For Reserve for
Imprest Cash Commitments
'$ 550.00 $. 461,135.00
604,822.00
$2,866,626.38 $66;.963.11 $ 26,150.00 )$ 550.00 $1310652957.00
18,715.75 55,000.00
.170,152.00
i
$22847;910.63 i $11.,963.11 $ 26,150.00 $ 550.00 $ 895,805.00
i
$ 2672404.39
$3,004,134.12'
1,624.00 $3,005,758.12
2,967,068.00. 38,690.12
$ 306,094.51
51,000.00
Balance at December 31, 1971 $ 255,094..51
i
i
-13-
GENERAL.FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1971
Balance at January 1, 1971
Additions:
Receipts - per separate schedule
Sale of investments
Collection of amount due others:
Waterworks Fund
Edina Firemen's Relief. Association
Collection made on accounts receivable
and due from other funds
Payments received from Independent School
District No. 273 for gasoline purchases
Receipts - Morningside Improvement Fund
Less payments from fund
Other
Deductions:
Disbursements - per separate schedule
Gasoline purchased for Independent School
District No. 273
Purchase of investments
Purchase of land investment
.Payments on accruals at December 31, 1970:
Trade accounts
Accrued payroll
Edina Firemen's Relief Association
Due to other funds
Payment of bonds
Payments on work orders
$ 666,596.92
$3,058,094.22
276,585.47
$ 12,801.17
48,186.60 60,987.77
99,332.00
25,,218.84
$ 19,006.45
949.50 18,,056.95
744.41 3,539,019.66
$4,205,616.58
$2,777,523.00
23,905.60
175,000.00
4,468.04
$ 52,586.63
11,501.35
35,332..33
110,680.53 210,100.84,
8,000.00
1,058,00 3,200,055..48
Balance at December 31, 1971 $1.,005,561.10
-14-
GENERAL FUND
REVENUE
VILLAGE OF EDINA
Year Ended December 31,.1971
Real and personal property taxes:
Received from direct local levies
Received from.Sales Tax Replacement Fund:
Personal property
Thirty -five per cent forgiveness
TOTAL SALES .TAX REPLACEMENT FUND
TOTAL REAL AND PERSONAL PROPERTY TAXES
Other taxes
Bicycle licenses
Beer and liquor licenses
Cigarette licenses
Dog licenses and impounding.fees
Food and.soft drink
Gas pump licenses
Other business licenses
Heating and ventilating licenses
Scavenger and garbage collector licenses
Water softener installation licenses
Building permits
Cesspool and sewer permits
Plumbing permits
Sign permits
Street opening fees
Heating permits
Other permits and licenses
Planning fees
Engineering and clerical
Equipment rental
Fines
Income on investments
Sale and rental of property
Sale of automobile and drivers:.liceitses'
State tax apportionments — liquor and cigarette
State sales and use tax
Police and fire service
Contribution from active funds
Charges to other funds
Special assessment - tree trimming
Discounts earned
Other revenue
Transfer — reserve for commitments
Transfer - unappropriated surplus
( ) Indicates deduction.
Receipts
$1,344,232.00
$ 41,421.00
165,111.00
$ 206,532.00
$1,550,764.00
47,091.00
2,270.00
1,450.00
2,096.00
5,943.00
8,934.00
1,135.00
5,574.00
1,626.00
1,462.00
110.00
81,409.00
1,605.00
19,855.00
870.00
3,039.00
4,014.00
25.00
2,782.00
20,552.00
( 5,400.00)
90,047.00
32 ; 6`27.00
5701 '384.00
164,291.00
337,226.00
78,223.00
17,880.00
1,447.00
8,763.22
$3,058,094;22
Accruals
($ 133-479.00)
82,569.00
$ 82,569.00
$ 69,090.00
i
I
( 8,177.00)
( 63.00)
I '
I
I
137,766.00
1,338.00
.13,568.00
} ( 525,000.00)
21.,134.00
i
I
10,197.00
i
137.00
4,897.90
170.,152.00
51,000.00
($ 53,960.10)
{
Revenues
$1,330,753.00
$ 41,421.00
247,680.00
$ 289,101.00
$1,619,854.00
47,091.00
. 2,270.00
1,450.00
2,096.00
5,943.00
8,934.00
1,135.00
5,, 5 74.00
1,626.00
1,462.00
110.00
73,232.00
1,605.00
19,792.00.
870.00
3,039.00
4,014.00
25.00
2,782.00
158,318.00
( 4,062.00)
103,615.00
32,627.00,
45,384.00
21,134.00
164,291.00
337,226.00
10,197.00
78,223.00
17,880.00
1,584.00
13,661.12
170,152.00
51,000.00
$3,004,134.12
Estimated
Revenue
$1,339,037.00
$. 41,421.00
247,680.00
$ 289,101.00
,i$1,628,138.00
36,500.00
2,150.00
1,400.00
2,000.00
6,400.00
8,000.00
1,050.00
5,150.00
70,000.00
2,300.00
14,000.00
.4,000.00
2,000.00
3,500.00
1,000.00
2,000.00
150,000.00
300.00
97,400.00
31,000.00
47,000.00
18,000.00
164,184.00
336,984.00
9,675.00
78,223.00
.17,880.00
6,000.00
15,850.00
170,152.00
51,000.00
$2,983,836.00
Actual
Revenue
Over- Under*
Estimated
Revenue
$ 8,284.00*
$ 8,284.00*
10,591.00
120.00
50.00
96.00
457.00*
934.00
85.00
424.00
1,626.00
862.00
110.00
3,232.00
695.00*
5,792.00
3,130.00*
1,039.00
514.00.
975.00*
782.00
8,318.00
4,362.00*
6,215.00
1,627.00
1,616.00*
3,134.00
107.00
242.00
522.00
6,000.00*
1,584.00
2,188.88*
$20,298.12
-15-
GENERAL GOVERNMENT
Mayor and Council
Planning
Administration:
Personal services
Contractual services
Commodities
Fixed charges
Finance:
Personal services
Contractual services
Commodities
Fixed charges
Election
Assessing:
Personal. services
Contractual services
Commodities
Fixed charges
Legal services
Library:
Personal services
Contractual services
Commodities
Fixed charges
GENERAL FUND
EXPENDITURES
VILLAGE OF EDINA
Year Ended December 31, 1971
TOTAL GENERAL GOVERNMENT
ADMINISTRATION, ENGINEERING AND PUBLIC WORKS
Administration:
Personal,services
Contractual services and.commodities
Fixed charges
Engineering:
Personal services
Contractual services
Commodities
Fixed charges
Disbursements
$ .17,436.00
23,798.00
$ 65,918.00
9,343.00
184.00
14,580.00
$ 90,025.00
$ 70,751.00
.3,477.00
210.00
11,400.00
$ 85,838.00
23,469.00
$ 53,758.00
2,568.00
320.00
11,160.00
$ 671806.00
37,688.00
$ '7,439.00
12,004.00
,2,148.00
.1,200.00
$ 22,791.00
$ 368,851.00
$ 24,080.00
26.00
'5,220.00
$ 29,326.00
$ 126,858.00
2,134.00
3,394.00
21,780.00
$ 154,166.00
Encumbrances
$ 794.00
172.00
$ 205.00
$ 205.00
$ 27.00
( 157.00)
($ 130.00)
( 11,749.00)
$ 951.00
35,300.00
$ 12.00
1,286.00
$ 26,841.00
i
$ 2,556.00
284.00
I
$ 2,840.00
EXDenditures
$
18,230.00
23,970.00
$
65,918.00
9,548.00
184.00
14,580.00
$
90,230.00
$
70,751.00
3,504.00
53.00
11,400.00
$
85,708.00
11,720.00
$
53,758.00
3,519.00
320.00
11,,160.00
$
68,757.00
72,988.00(A)
$ 7,451.00
13,290.00
2,148.00
1,200.00
$ 24,089.00
$ 395,692.00
$ 243,080.00
26.00
5,220.00
$ 292326.00
$ 129,414.00
2,418.00
3,394.00
21,780.00
$ 157,006.00
ADDronriation
$ . 18,440.00
25,955.00
$ 65,970.00
9,604.00
200.00
14,580.00
$ 90,354.00
$ 71,200.00
3,550.00
100.00
11,400.00
$ 86,250.00
14,8 0.00
i
$ 53,940.00
3',762.00
425.00
11,160.00
$ 69,287.00
53,110.00
$ 7,980.00
13,365.00
2,200.00
1,200.00
$ 24,745.00
$ 382,961.00
$ '24,'I 150.00
50.00
5,220.00
$ 29,420.00
$ 127,870.00
2,450.00
3;400.00
'21,780.00
$ 155,500.00
i
I
Unexpended
Overexpended*
Balance
$ ' 210.00
1,985.00
$ 52.00
56.00
16.00
$ 449.00
46.00
47.00
T
3,100.00
$. 182.00
243.00
105.00
$ 530.00
19,878.00*
$ 529.00
75.00
52.00
$12,731.00*
$ 70.00
24.00
$ 94.00
$ 1,544.00*
32.00
6.00
$ 1,506.00*
-16-
GENERAL FUND
EXPENDITURES (Cont'd)
ADMINISTRATION, ENGINEERING AND PUBLIC WORKS (Cont'd)
Public works:
Supervision and.clerical
Training
Paid leave
General maintenance
Street cleaning
Renovation
Snow and ice removal
Street lighting
Ornamental lighting
Street name signs
Traffic control:
Sign maintenance
Signal 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
Sidewalks:
Maintenance and repair
Snow and ice removal
Paking ramp maintenance
TOTAL PUBLIC WORKS
1ATAL `ADMINIST RATION ,..ENGINEERING AND PUBIIC;.;WORKS
PROTECTION OF PERSONS AND PROPERTY
Police protection:
Personal services
Contractual services
Commodities
-Fixed charges
Disbursements
$ 61,905.00
672..00
31 783.00
107,821.00
48,099.00
51,376.00
86,429.00
74;764.00
295.00
12,157.00
$ 17,550.00
.8,850.00
.6,181.00
$ 32,581.00
2,915.00
3,211.00
25,699.00
:1.,839.00
$ 12;383.00
13,415.00
$ 259798.00
453.00
10,972.00
$ 2,671.00
532.00
$ 3,203.00
4,995.00
$ . 586,967.00
$ 770,459.00
$ 544;$43:00•
13,804.00
:4,550.00
129,420.00
$ 692,617.00
Encumbrances
$ 97.00
10.00
2,450.00
.21,999.00
'90.00
5,424.00
1,021.00
( 347.00)
$ 370.00
531.00
$ 901.00
62.00
40.00
79.00
$ 892.00
$ 892.00
1,341.00
625.00
$ 34,684.00
$.37,524.00
$ 700.00
558.00
730.00
Expenditures
$ 62.,002.00
682.00
34,,233.00
.129,820.00
48,189.00
51,376.00
91,853.00
75,785.00
295.00
11,810.00
$ 17,920.00
9,381.00
6,181.00
$ 33,482.00
2,977.00
3,211.00
25,739_.00
1,918.00
$ 12,383.00
14,307.00
$ 26,690.00
1.,794.00
10,972.00
$ 2,671.00
532.00
$ 3,203.00
5,620.00
$ 621,651.00
$ 807,983.00
$ 545,543.00
14,362.00
5,280.00
129,420.00
$ 694,605.00.
Appropriation
$
62,250.00
740.00
34,300.00
135,780.00
48,:731.00
51,924.00
92;,270.00
82,270.00
500:00
12,,882.00
$
.18;:184.00
9,, 850.00
6,340.00
$
34;:374.00
3,637..00
3,908.00
26;300.00
2.;790.00
$
12;.420.00
14;450.00
$.
26,870.00
2;,500.00
12;380.00
$
.2 1800.00
1800.00
$
3;600.00
5;700.00
$ 643;706.00
$
8281626.00
$
545.1570.00
14;787.00
5,347.00
129;420.00
$
695 ;124.00
Unexpended
Overexpended*
Balance
$ 248.00
58.00
.67.00
5,960.00
542.00
548.00
41.7.00
6,485.00
205.00
1,072.00
$ 264.00
469.00
159.00
$ 892.00
660.00
697.00
561.00
872.00
$ 37.00
y ivv.vv
706.00
1,408.00
$ 129.00
268.00
$ 397.00
80.00
$22,055.00
$20,643.00
$ 27.00
425.00
67.00
-17-
GENERAL FUND
EXPENDITURES (Cont'd)
PROTECTION OF PERSONS AND PROPERTY (Cont'd)
Fire protection:
Personal services
Contractual services
Commodities
Fixed charges
Civil 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 property
Human Rights Commission
TOTAL NON- DEPARTMENTAL
CENTRAL SERVICES
See separate schedule attached
TOTAL OPERATING EXPENSES
CAPITAL OUTLAY
Engineering
Public Works
Police
Fire
Contingencies
Special assessments on Village property
Unallocated capital outlay
Administration
- Election
Disbursements
$ 238,648.00
6,317.00
.5,893.00
54,600.00
$ 305,458.00
3,731.00
$ .28,175.00
869..00
1,875.00
.5,880.00
$ 36,799.00
13,911.00
$ 44,273.00
.1,224.00
744.00
.9,420.00
$ 55,661.00
$1,108,177.00
$ 23,380.00
1,741..00
58,187.00
6,163. 00
$ 892471.00
28,338.00
$2,365,296:00
$ 2,503.00
39,996.00
31,507.00
14,703.00
;3,580 :00
.15,260.00
286,216.00
18,462.00
$ 412,227.00
Encumbrances
$ 77.00
372.00
868.00
$ 1,317.00
38.00
($ 7,203.00)
( 50.00)
( 1,137.00)
($ 8,390.00)
2,642.00
$ 152.00
$ 152.00
($ 2,253.00)
$ 119.,00
33..00
13.00
$ 165.00
14,529.00
$ 76,806.00
$ 53.00
2,168.00
( 633.00)
33,179.00
$ 34,767.00
Expenditures
$ 238,725.00
.6,689.00
6,761.00
54,600.00
$: 306,775.00
3,769.00
$. 20,972.00
819.00
738.00
.5,880.00
$ 28,,409.00
16,,553.00
$ 44,273.00
1,224.00
896.00
9,420.00
$ 55-,813.00
$1,105,924.00
$ 23,499.00
1,774.00
58,200.00
6,163.00
$ 89,636.00
42,867.00
$23,442,102.00
$ 2,503.00
39,996.00
31.,507.00
14,756.00
5,748.00
14,627.00
319,395°00
18,462.00
$ 446,994.00
ADDronriation
$ 2392701..00
6,973.00
7,;116.00
54;600.00
$ 308;390.00
3 :823.00
$ 212415.00
1,528.00
882.00
5,880.00
$ 29,705:00
16,748..00
$ 44;220.00
1,230.00
1682.00
9,420.00
$ 55;552.00
$1,109042.00
$ 18;700.00
4;600.00
58,'500.00
5,800.00
$ 83,;600.00
44;200.00
$2,448;729.00
$ 2,550.00
40'000.00
32 ;;694.00
149 -784.00
5 ,'800.00
15;000.00
327;579.00
200.00
18;500:00
$ 457107.00
i
Unexpended
Overexpended*
Balance
$ 976.00
284.00
355,00
54.00
$ 443.00
709.00
144.00
$ 1,296.00
195.00
$ 53.00*
6.00
214.00*
$ .261.00*
$ 3,418.00
$ 4,799.00*
-1,174.00*
300.00
363.00*
$ 6,036.00*
1,333.00
$ 6,627.00
$ 47.00
4.00
1,187.00
28.00
52.00
373.00
8,184.00
200.00
T--- - - - - --
-18-
GENERAL FUND
EXPENDITURES (Cont'd)
RESERVE FOR COMMITMENTS
Police protection
Public works
Assessing.
Unallocated capital outlay
Disbursements
TOTAL $2,777.,523:00
( ) Indicates deduction.
Encumbrances i Exvenditures
$ 10,000.00 $ 10,000.00
52,000.,00 52,000.00
2,000.00 2,000.00
13,972.00 13,972.00
$ 77,9.72.00 $ 77,972.00
$189,545.00 - $2,967,068.00
j'
Note A - Includes $9,781°00 related to operations for the year ended December 31, 1970.
I
i
i
Unexpended
Overexpended*
Appropriation Balance
$ 10,000.00 $ -
52,000.00 -
2 ,000.00 -
14,000.00 28.00
$ 78,000.00 $ 28.00
i.
$2;983,836.00 $16,768.00
i
,I
GENERAL
Contractual services
Commodities
GENERAL,FUND
CENTRAL SERVICES EXPENDITURES
VILLAGE OF EDINA
Year Ended December 31, 1971
Disbursements
$317,641.00
6,508.00
TOTAL GENERAL $324,149.00
Encumbrances
($ 9,562.00)
684.00
($ 8,878.00)
VILLAGE HALL
Personal_ services
$ 16,608.00
$ 410.00
Contractual services.
10,237.00
1,615.00
Commodities
4,719.00
862.00
Fixed charges
1,260.00
TOTAL VILLAGE HALL
$ 32,824.00
$ 2,887.00
GARAGE
33$71:00
3$86.00
EQUIPMENT OPERATION
Personal services
$ 64,531_.00
$ 2,088..00
Contractual services
28,736.00
9,486.00
Commodities, parts and accessories
47,715.00
3,623.00
Fixed charges
26,640.00
Gasoline and fuel oil
30,301.00
1,737.00
Tires and tubes
8,900.00
Lubricants
1,271.00
TOTAL EQUIPMENT OPERATION
$208,094.00
$16,934.00
$598,638.00
$143529.00
.Less allocation to other departments or funds
570;300.00
TOTAL
$ 28$38.00
$143,529.00
i
Expenditures
$308,079.00
7,192.00
'$315,271.00
$ 17,018.00
11,852..00
.5,581.00
1.260.00
$- 35,711.00
37,157.00
$ 66,619.00
38,222.00
51,3 ' 38.00
26,60.00
32,038.00
8,900.00
1..271.00
$225,028.00
$613,167.00
.570,300.00
$ 42,867.00
'd
I
Appropriation
$312,820.00
7,800.00
$320,620.00
$-17,100.00
11'420.00
4,360.00
1:260.00
$ 34,140.00
35,340-00
$ 66.,800.00
3,20
7 0.00
.51,360.00
26.; 6,40.00
32;100.00
9,000.00
1,300.00
$224,400.00
$614,500.00
570.500.00
$ 44.,200.00
Unexpended
Overexpended*
Balance
$4,741..00
608.00
$5,349.00
$ 82.00
432.00*
1,221.00*
$1,571.00*
1,817.00*
$ 181.00
1,022.00*
22.00
62.00
100.00
29..00
$ 628.00*
$1,333.00
$1,333.00
-20-
Land
Land improvements
Buildings
Furniture and fixtures
Equipment:
Highway
Police
Fire
Election
Engineering
Traffic signal
Executive
Miscellaneous
GENERAL FUND,
FIXED ASSETS .
VILLAGE OF EDINA
Year Ended December 31, 1971
Balance
January 1,
1971
$ 322,868.24
156,739.48
1,430,581.67
77,821.28
493,259.28
75,391.91
156,451.90
96,257.93
31,759.64
84,707.18
1,834.15
32,066.83
TOTAL $2,959,739.49
Additions Deductions
$ 41.585.00
$ 33,817.00
294,598.00
5,623.00
44,915.00
39,371.00
16,821.00
20,462.00
3,052.00
$458,659.00
461,216.00
9,696.46
17,959.29
1,918.00
$532,374.75
Balance
December 31,
1971
$ 281,283.24
190,556.48
1,263,963.67
83,444.28
528,477.82
96,803.62
173,272.90
116,719.93
32,893.64
84,707.18
1,834.15
32,066.83
$2,886,023.74
-21-
GENERAL FUND
BONDS PAYABLE
VILLAGE OF EDINA
December 31, 1971
Annual maturities and interest dates
Interest rate
Year
1972 l
1973
1974
1975
Street
Improvement
No. 14
May 1 and
November 1
3.9%
$ 5,000.00
5,000.00
5,000.00
5,000.00
$20,000.00
-22-
POOR FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1971
ASSETS
-Cash on deposit
Due from other funds
0
LIABILITIES AND SURPLUS
Accounts payable
Unappropriated surplus
$28,113.00
1,104.85
$29,217.85
$ 472.52
28,745.33
$29,217.85
-23-
POOR FUND
STATEMENT OF SURPLUS , UNAPPROPRIATED.
VILLAGE OF EDINA
Year Ended December 31, 1971
Balance at January 1, 1971
Deduct:
Excess of expenditures over revenue
Balance at December 31, 1971
STATEMENT OF REVENUES AND EXPENDITURES
Revenue receipts and accruals:
Tax settlements
Income on investments
Disbursements and accruals:
Suburban Hennepin County Relief Board
Relief orders
Administration
Suburban Public Health Nursing Service
Professional services
NET INCOME (LOSS)
$33,310.11
4,564.78
$28,745.33
Year Ended December 31 Increase
1971 1970 Decrease*
$15,989.03 $13,763.18 $ 2,225.85
734.36 1,871.82 1,137.46*
$16,723.39 $15,635.00 $ 1,088.39
$ 3,876.71 $ 1,350.45 $ 2,526.26
2,288.20 1,439.37 848.83
14,973.26 10,998.49 3,974.77
150.00 150.00. -
$21,288.17 $13,938.31 $ 7,349.86
($ 4,564.78) $;.1,696.69 $ 6,261.47*
-24-
POOR FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1971
Balance at January 1, 1971
Additions:
Sale of investments
Tax settlements received:
March 1971
June 1971
November 1971
Income on investments
Deductions:
Payment to Suburban Hennepin.County
Relief Board:
Relief orders
Administration
Less accounts payable at December 31, 1971
Payment made on accrual at December 31, 1970
Suburban Public Health Nursing Service
Professional service
$ 719.65
6,889.86
7,274- =:.67
$14,884.18
734.36
$ 8,359.76
25,358.30
15- ;618.54
$49,336.60
$3,876.71
2,288.20
$6,164.91
472.52. .$ 5,692.39
407.95
14,973.26
150.00 21,223.60
Balance at December 31, 1971 $28,113.00
-25-
PARK FUND
BALANCE SHEET
VILLAGE OF MINA
December 31, 1971
ASSETS
Cash on deposit (deficit)
Receivables:
Taxes receivable - delinquent
Less allowance for delinquent taxes
Due from other funds
Inventory of supplies - estimated
Fixed assets - at cost
LIABILITIES AND SURPLUS
Liabilities:
Accounts payable
Accrued salaries and wages
Due to other funds
Unexpended contributions for specific purposes:
Figure skating instructors' salaries
Other recreation programs
Surplus:
Appropriated:
Invested in fixed assets:
Direct
Contributed:
By General Fund by
payment of special
assessments
By others
Unappropriated (deficit)
$ 9,538.81
9,538.81
$ 1,395.69
8,695.35
$1,161,158.44
$458,447.08
10,558.66 469,005.74
($ 22,745.27)
23,908.20
600.00
1,630,164.18
$126312927.11
$ 4,143.56
7,154.36
14,181.. 31
$ 25,479.23
10,091.04
1,630,164.18
( 33,807634)
$1,631,927.11
-26-
PARK FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year Ended - December 31, 1971
APPROPRIATED
Balance at January 1, 1971
Additions:
Transfer from unappropriated surplus
for fixed assets
Special assessments paid by General Fund
Deduction:
Transfer to unappropriated surplus
Combined
$1,563,545.26
14,499.00
58,119.92
$1,636,164..18
6.000.00
Balance at December 31, 1971 $1,630,164.18
UNAPPROPRIATED
Balance (deficit) at January 1, 1971
Additions:
Revenue for year - see separate schedule
Deductions:
Expenditures for year,.including $8,499.00 for
capital outlay and commitments for fixed assets -
see separate schedule
� I
{
1
i;
r
}I
i
u �
Investment in.Fixed Assets
r Contributed
By General
Fund by
Payment of
Special
Assessments By Others, Direct
; I
,! $400,32,7.16 $10,558.66 $1,146,659.44
14,499.00
58,119.92 I
$458,447.08 $10,558.66 $1,161,158.44
f
I i
I �
$458;447.08 $10,558.66 $1,161,158.44
I.
Reserve for
$ 6,000.00
$ 6,000.00
6,000.00
' ($ 18,304.58)
I I
304,883.24
$2,86,578.66
320,386.00
I _
Balance (deficit) at December 31, 1971 ($ 33,801.34)
I
ti I
I. I
I
-27-
PARK FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1971
Balance at,:January 1, 1971
Additions:
Receipts for year - see separate schedule
Payments received on accruals at December 31, 1970
Registration fees - figure skating
Dedicated funds for skiing, archery, gynmastics, etc.
Deductions:
Disbursements for year - see separate schedule
Expenses - figure skating
Payment on accruals at December 31, 1970:
Accounts payable
Accrued payroll..,,
Due to other funds
Payment from dedicated funds
Payment of amount due from other funds
$289,528.94
14,810.55
26,765.25
21,527.79
$318,371.00
12,958.50
$ 5,436.61
6,566.43
29,957.65 41,960.69
16,480.56
8,747.50
Balance (deficit) at December 31, 1971
$ 23,140.45
352,632.53
$375,772.98
398,518.25
($ 22,745.27)
-28-
PARK FUND
REVENUE AND EXPENDITURES
VILLAGE OF EDINA
Year Ended December 31, 1971
REVENUE
Real and personal property taxes
Registration fees
Transfer from active funds
Other revenue
TOTAL REVENUE
EXPENDITURES
Administration:
Personal services
Contractual services
Commodities.
Central services
Training
Paid leave
TOTAL ADMINISTRATION
Capital outlay
Recreation:
Baseball and softball
Skating and hockey
Tennis instruction
Playgrounds
Swimming instruction
Teen program
Special activities
TOTAL RECREATION
Maintenance:
Mowing
Special turf care
Planting and trees
Litter removal
Park Ag areas
Building and equipment
Skating rinks
TOTAL MAINTENANCE
TOTAL EXPENDITURES
Indicates deduction.
Receipts
$145,956.00.
26,578.00
116,777.00
217.94
$289,528.94
Disbursements
$ 50,597.00
'2,.010.00
22.00
30,000.00
170.00
14.246.00
$ 97,045.00
14,499.00
$ 12,984.00
12,261.00
- 3,317.00
13,949.00
17,403.00
39.00
`6,393.00
$ 66,346.00
$ 12,446.00
26,168.00
"5,680.00
- 6,998.00
5,947.00
34,844.00
48,398.00
$140,481.00
$318,371.00
Accruals
$10,883.00
4,471.30
$15,354.30
Adjustments
and
Encumbrances
($ 190.00)
576.00
$ 386.00
( 6,000.00)
($ 8,781.00)
1,174.00
454.00
403.00
($ 6;750.00)
$ 6,000.00
1,341.00
2,326.00
1,400.00
1,872.00
1,440.00
$14,379.00
$ 2,015.00
Revenue
$156,839.00
26,578.00
116, 117T' 0`0
4,689.24
j $304,883.24.
Expenditures
$ 50,597.00
1,820.00
22.00
30,000.00
170.00
14.822.00
$7 9T 431.00
.8,499.00
$ 4.,203.00
13,435.00
3,317.00
14,403.00
17,403..00
39.00
6,796.00
$ 59,596.00
$ 182446.00
27,509.00
8,006:00
8,398.00
5,947.00
36,716.00
49,838.00
$154,860.00
$320,386.00
Estimated
Revenue
$160,245.00
27,000.00
116,777.00
7N. 00
$304,772.00
Appropriation
$ 50,780.00
2,170.00
175.00
30,000.00,
400.00
14.592.00.
$ 98,117.00
9,950.00
$ 4,750.00
10,390.00
2,175.00
13,800.00
19,000.00
2,000.00
.7,200.00
$ 59,.315.00
$ 18,624.00
23,560.00
9,070.00
8,840.00
7,,040.00
33,560.00
36.70.0.00
$137,390- 00
$304,7.72.00
Actual
Revenue
Over- Under*
Estimated
Revenue
$ 3,406.00*
422.00*
3,939.24
$ 111.24
Expenditures
Over* -Under
Appropriation
$ 183.00
350..00
153.00
230.00
230.00*
$ 686,.00
1,451.00
$ 547.00
3,045.00*
1,142.00 *.
603.00*
1,597.00
1,961.00.
Lr%1.`. nn
y? 401. VV'
$ 174.00
3,949.00*
1,064.00
442.00
1,093.00
3,156.00*
13,138.00*
$17,470.00*
$15,614.00*
_99-
PARK FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December 31, 1971
Parks:
Utley Park
Balance
24,782.76
Balance
6,675.95
January 1,
Arden Park
December 31,
17,760.48
1971
Additions
1971
Land
$ 423,204.86
30,576.10
$ 423,204.86
Skating rinks
5,812.03
York Park
5,812.03
Land improvements
417,447.61
$58,119.92
4-75,567.53
Building
4,042.32
41,631.64
4,042.32
Park equipment
57,438.43
10,110.00
67,548.43
Furniture, fixtures and equipment
2,970.78
340.00
13,310.78
Trucks, automobile and:tractors
48,519.78
3,272.00
151,791.78
Miscellaneous
7,915.32
777.00
- 8,692.32
Parks:
Utley Park
24,782.76
24,782.76
Chowen Park
6,675.95
6,675.95
Arden Park
17,760.48
17,760.48
Normandale Park
47,123.53
47,123.53
Alden Park
30,576.10
30,576.10
Highlands Park
65,322.66
65,322.66
York Park
9,368.19.
9,368.19
McGuire Park
3,959.00
3,959.00
Cornelia;School Park
41,631.64
41,631.64
Nine Mile Creek Parkway
3,220.92
3,220.92
Lake Edina:Park
34,826.54
34,826.54
Countryside Park
23,227.65
23,227.65
Beard Park
15,160.46
15,160.46
Division Park
36,068.46
36,068.46
Valley View School Park
8,696.96
8,696.96
Garden -Park
45,518.85
45,518.85
Heights Park
26,200.40
26,200.40
Walnut Ridge Park
13,504.15
13,504.15
Creek Valley School Park
54,232.73
54,232.73
Cornelia Park
48,239.51
48,239.51
Weber Park
.21,325.65
21,325.65
Sherwood..Pump Park
700.51
700.51
Birchcrest Park
2,816.49
2,816.49
Tingdale Park
4,020.11
4,020.11
St. John's Park
733.33
'733.33
Bristol Park
4,501.10
4,501.10
TOTAL $1,557,545-.26 $72,618.92 $1,630,164.18
-30-
SWIMMING POOL YUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1971
ASSETS
Cash on- deposit (deficit)
Fixed assets - on the basis of cost:
.Land
Swimming pool and bathhouse
Filter 'system
Concession furniture and fixtures
'Less allowances for depreciation
($ 9,525.70)
$.'10,000.00
184,026.67
.17,000.00
$3,305.00
351.50 2,953.50 213,980.17
$204,454.47
LIABILITIES AND SURPLUS
Accounts payable
Due to other funds
Surplus:
Invested in fixed assets:
From bonds
Direct
Donated
Unappropriated (deficit)
$209,431.89
4,498.28
50.00
$ 202.02
471.00
$ 673.02
213,980.17
( 10,198.72)
$204;454.47
-31-
SWIMMING POOL FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year Ended December 31, 1971
-32-
Unappro-
Invested,in Fixed
Assets
Total
priated
Donated Direct
From Bonds
Balance (deficit) at
January 1, 1971
$198,040.14
($13,257.78)
$50.00 $1,816.03
$209,431.89
Additions and transfers:
`Net income for the year
741.31
741.31
Fixed assets purchased
-
( 2,905.00)
2;905..00
Interest provided for at
December 31,.1970 included
in operations
5,000.00
'5,000.00
Provision for depreciation
-
222.75
( 222.75)
Balance (deficit) at
December 31, 1971
$203,781.45
($10,198.72)
$50.00 $4,498.28
$209,431.89
-32-
SWIMMING POOL :FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF,EDINA
Year Ended December 31, 1971
Balance (deficit) at January. 1,.1971 ($ 8,250.05)
Additions:
Pool fees $48,380.00
Concession income - see separate schedule $1,502.00
Add.provisioni for -depreciation not
requiring.cash 222.75 1;724.75
Other- revenue 2,074.31 52,179.06
$43,929.01
Deductions:
Operating expense - see separate schedule $46,215.00
Payments made on accrual at December 31, 1970 5,007.73
Fixed assets purchased 2,905.00
$54,127.73
Less payable at December 31, 1971:
Accounts payable $ 202.02
Due to other funds 471.00 673.02 53,454.71
Balance (deficit) at December 31,.1971 ($i9,525.70)
-33-
SWIMMING POOL FUND
STATEMENT'OF INCOME AND, EXPENSE
VILLAGE OF EDINA
Year Ended December 31, 1971
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
Insurance
Repairs
Cleaning.supplies
Water treatment
General supplies
Annual audit
Printing and office expense
'Renovation of parking.lot
Central services-,
Interest on bonds
Income from concessions - see separate schedule
$ 4,165.00
12,145.00
1,516.00
4,394000
755.00
5,537.00
$42,544.00
5,836.00
$28,512.00
2,428.00
219.00
2,906,00
72.00
195.00
225.00
1,068.00
656.00
2,007.00
1,821,00
200,00
750.00
2,336.00
2,820.00
NET INCOME
$48,380.00
2,000.00
74.31
$50,454.31
46,215.00
$ 4,239.31
5,000.00
($ 760.69)
1,502.00
$ 741.31
-34-
SWIMMING POOL:FUND
STATEMENT OF INCOME AND 'EXPENSE (CONCESSIONS ,ONLY)
VILLAGE OF EDINA
Year Ended December 31, 1971
NET 'INCOME $1,502.00
-35- -
Gross
Profit
Cost of
Per Cent
Sales
Sales
Amount
to Sales
Soft drinks
$ 1,777.00
$ 823.00.
$ 954.00
53.69%
Soft ice cream
3,302.00
1,87.1.00
1,431.00
43.34
Popcorn
2,130.00
1564.00
1,566.00
73.52
Pies
642.00
,413.00
229.00
35.67
Cakes
1,785.00
;1,060.00
725.00
40.62
Sandwiches
1,004.00
728.00
276.00
27.49
Other
422.00
276.00
'146.00
34.60
$11,062.00
$5,735.00
$5,327.00
48.16%
Operating expenses:
Salaries and wages:
Manager
$ 619.00
Other
2,902.00
$3,521.00
Supplies
59.00
Repairs
22.00
Provision:.for depreciation
223.00
.3,825.00
NET 'INCOME $1,502.00
-35- -
SWIMMING POOL FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended'December 31,.1971
ASSETS
Land
Swimming pool and bathhouse
Filter system
Concession furniture and equipment
ALLOWANCES FOR DEPRECIATION
Concession: furniture and equipment
Balance Balance
January.l, December 31,
.1971 Additions 1971
$ 10,000.00 $ 10,000.00
184,026.67 184,026.67
17,000.00 217,000.00
.400.00 $2,905.00 3,305.00
$211,426.67 $2,905.00 .$214,331.67
128.75 222.75 351.50
NET BALANCE $211,297.92 $2,682.25 $213,980.17
-36-
GOLF COURSE FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1971
ASSETS
Cash:
Demand.deposits
Working funds
Investments - at cost:
Village of Edina — Golf Course Bonds of 1963
Accrued interest
Accounts receivable
Due from other funds
Prepaid insurance
Fixed assets -.on the basis -of cost:
Golf course
Buildings
We l l
Parking lot and roadways
Equipment
Less allowances for depreciation
$101,591.04
52.00 $ 101,643.04
$ 8,035.00
89.91 8,124.91
25.28
764:00
456.05
$726. 414.02
182,906.82
15,018.15
9,627.32
$88,534.73
46,955.90 41,578.83
LIABILITIES AND SURPLUS
Accounts payable
Accrued payroll
Due to other funds
Loan from Liquor Dispensary Fund
Bonds payable
Surplus:
Appropriated -.for debt service
Unappropriated
975,545.14
$1,086,558.42
$ 2,378.26
1,185.28
8,765.00
245,000.00
665,000.00
52,300.00
111,929.88
$1,086,558:42
-37-
Balance at January 1, 1971
Add net income for the year
GOLF COURSE FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year Ended December 31, 1971
Balance at December 31, 1971
.Appropriated
for Debt
Service
$52,300.00
$52,300.00
Unappropriated
$ 67,113.80
44;816.08
$1112929.88
-38-
GOLF COURSE FUND
ANALYSIS OF CHANGE IN.CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1971
Balance at January 1, 1971
Additions:
Revenue - see separate schedule
Net income - operating departments
see separate schedule
Add provision for depreciation not
requiring cash
Sale of investments
Income on investments
Decrease in accounts receivable
Decrease in amount due from other
funds
Increase in liabilities:
Balance at December 31, 1971:
Accounts payable
Accrued payroll
Due to,other funds
Balance at January 1, 1971:
Accounts payable
Accrued payroll
Due to other funds
Deductions:
Operating expenses - see
separate schedule
Additions to,fixed assets
Less book value of asset traded in
Payment to.fiscal agent:
Principal
Interest
Service charge
Interest paid Liquor Dispensary
Fund
Purchase of investments
Increase in prepaid expense
$ 75,501.29
$205,861.08
$17,814.00
1,361.89 19,175.89
.25,472.19
2,028.00
382.82
1,466.00
$ 2,378.26
1,185.28
8,765.00 $12,328.54
$ 1,302.80
342.72
8,750.00 10,395.52 1,933.02 256,319.00
$331,820.29
$142,662.00
$12,693.75
259.20 12.434.55
$35,000.00
23,050.00
53.00 $58,103.00
8,575.00 66,678:00
8,124.91
329.79 230,229.25
Balance at December 31, 1971 $101,591.04
-39
GOLF COURSE FUND
STATEMENT OF INCOME AND EXPENSE
VILLAGE OF EDINA
Year Ended December 31, 1971
Revenues:
Membership fees
Green fees:
Regular course
Short course
Rental of golf cars
Locker rental
Other
Operating expenses:
Administration:
Salaries and wages:
Manager
Pro
Rangers and starters
Cashier, ,clerical and other
Audit
Printing
Supplies
Insurance and alarm system
Retirement, insurance, office
supplies, etc.
Mileage and conference
Other
Building -- clubhouse and pro shop:
Salaries and wages
Utilities:
Telephone
Water and sewer
Fuel
Light and power
Laundry .
Rubbish hauling
Less amount charged to grill
Insurance
Repairs - building and equipment
Supplies
Other
Maintenance of course and grounds:
Salaries and wages:
Superintendent
Maintenance
$ 23,907.00
$137,718.00
26,235.00 1`63,953.00
15,801.00
1,190.00
1,010.08
$205,861.08
$ 10,180.00
3,400.00
4,286.00
12,095.00
$ 29,961.00
750.00
1,315.00
211.00
844.00
$10,800.00
45,335.00
$56,135.00'
-40-
9,300.00
560.00
839.00
$ 43,780.00
$ 1,306.00
$1,010.00
106.00
1,219.00
1,042.00
1,853.00
800.00
$6,030.00
1,809.00
4,221.00
219.00
5,184.00
1,151.00
238.00
12,319.00
$10,800.00
45,335.00
$56,135.00'
-40-
GOLF COURSE FUND
STATEMENT OF INCOME AND EXPENSE (Cont'd)
Operating expenses (cont'd):
Maintenance of course and grounds (cont'd):
Equipment rental
Telephone
Light and power
Fuel
Fertilizer and chemical
Sod, black dirt and seed
Blacktop, sand and gravel
Repairs
Lumber
Equipment operation .
Supplies
Other
Net income - operating departments -
see separate schedule
Income on investments
Interest expense:
On bonds
On loan from Liquor Dispensary Fund
Provision for depreciation
$ 339.00
220.00
4,462.00
291.00
3,048.00
4.,611.00
518.00
32.00
218.00
13,200.00
3,383.00
106.00 $ 86,563.00 $142,662.00
$ 63,199.08
$ 17,814.00
2,028.00 19,842.00
INCOME BEFORE INTEREST AND DEPRECIATION $ 83,041.08
$-23,103.00
8,575.00
INCOME BEFORE DEPRECIATION
NET INCOME
31,678.00
$ 51,363.08
6,547.00
$ 44,816.08
-41-
GOLF COURSE FUND
STATEMENT OF INCOME AND EXPENSE - OPERATING DEPARTMENTS
VILLAGE OF EDINA
Year Ended December.31, 1.971
Driving range:
Revenue
Less operating expenses:
Salaries and wages
Replacement - ,balls
Supplies
Provision for depreciation
Grill:
Sales:
Food
Beer
Other
Less cost of goods sold:
Food
Beer
Less operating expenses:
Salaries and wages:
Manager
Cooks, waiters and waitresses
Supplies
Repair work
Expenses - .prorated
Provision for depreciation
$26,493.00
$ 6,176.00
2,106.00
1,176.00
345.00 9,803.00 $16,690.00
$32,779.00.
9,913.00
512.00
$43,204.00
$18,922.00
3,543.00 22,465.00
$20,739.00
$ 3,740.00
12,386.00
$16,126.00
297.00
.366.00
1,809.00
1,017.00. 19,615.00 _ 1,124.00
NET INCOME $17,814.00
-42-
GOLF COURSE FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December 31, 1971
ASSETS
Golf course
Buildings:
Club house
Maintenance building
Range building
Well
Parking lot and roadways
Equipment:
Golf course equipment
Club house equipment
Pro shop equipment
Range equipment
Concession equipment
ALLOWANCES FOR.DEPRECIATION
Golf course equipment
Club house equipment
Pro shop equipment
Range equipment
Concession equipment
NET BALANCE
Balance
January 1,
1971
$ 726,414.02
$ 174,202.26
6,491.92
2,212.64
$ 182,906.82
15,018.15
9,627.32
$ 48,181.57
8,419.91
3,946.19
6,160.93
9,996.38
$ 76,704.98
$1,010,671.29
$ 22,917.78
4,185.81
1,733.47
4,742.25
6,072.50
$ 39,651.81
$ 971,019.48
Additions Deductions
$ 9,885.00
386.00
1,213.60
1,209.15
$12,693.75
$12,693.75
$ 5,312.41
779.68
455.31
344.59
1,016.90
$ 7,908.89
$ 4,784.86
864.00
864.00
$864.00
$604.80
604.80
,$259.20
Balance
December 31,
1971
$ 726,414.02
$ 174,202.26
6,491.92
2,212.64
$ 182,906.82
15,018.15
9,627.32
$ 58,066.57
8,805.91
5,159.79
6,160.93
10,341.53
88,534.73 .
$1,022,501.04
$ 28,230.19
4,965.49
2,188.78
5,.086.84
6,484.60
$ 46,955.90
$ 975,545.14
-43-
GOLF COURSE FUND
BONDS PAYABLE
VILLAGE OF EDINA
December 31, 1971
Annual maturities and interest dates
Interest rates
Year
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
1085
1986
19$7
December 1
and June 1
3.0% to 3.5%
$ 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
40,000.00
50,000.00
50,000.00
50,000.00
50,000.00
50.000.00
TOTAL $665,000.00
-44-
RECREATION.CENTER FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1971
ASSETS
Cash:
On deposit.
Working fund
Accounts receivable
Due from other funds
Merchandise inventory - at cost
Prepaid insurance
Fixed assets on the basis of cost:
Land improvements
Buildings
Furniture and equipment
Less allowances for depreciation
$ 56,564.61
1,000.00
$ 39,160.06
800,524.13
$42,110.67
17,406.38 24,704.29
LIABILITIES AND SURPLUS
Accounts payable
Accrued payroll
Accrued interest
Due to other funds:
'Permanent Improvement Revolving Fund
Liquor Dispensary Fund
Other
Deferred income
Bonds payable
S4rplus:
Invested in fixed assets:
Direct
Contributed
Appropriated -.for debt service
Unappropriated
$100,000.00
170,000.00
36,371.69
$ 95,457.45
3,850.00
$ 579564.61
5,115.00
13,580.00
1,896.91
972.50
864,388.48
$943,517.50
$ 9,318.71
2,396.46
5,763.34
306,371.69
12,632.00
470,000.00
99,307.45
36,500.00
1,227.85
$943,517.50
-45-
RECREATION CENTER FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year Ended December-31, 1971
A p r o p r a t e d
Contributed
Invested Invested in
in Fixed Fixed For Debt.
Unappropriated Assets Assets Service Total
Balance at January 1,
1971
$ 2,936.39
$68,380.72
$4,950.00
$36,500.00 $109,830.72
Additions:
Net income.for year
24,268.19..
-
Fixed assets purchased
( 5,272.00)
5,272.00
5,272.00
Transfers in (out):
Payment of,bonds
( 25,000.00)
.25,000.00
25,000.00
Provision for
depreciation
4,295.27
L 3,105.27)
( 1,100.00)
(, 4,295.27)
Balance at
December 31,.1971
$ 1,227.85
$,95;457.45
$3,850.00.
$36,500.00 $135,807.45
-46- ` ..
RECREATION CENTER FUND
ANALYSIS OF CHANGE IN CASH BALANCE '
VILLAGE d EDINA
Year Ended December 31, 1971
Balance at January.l, 1971
$11,147.22
Additions:
Excess of revenue over expenses
(see separate schedule)
$24,268.19
Add provision for.depreciation
not requiring cash
4,295.27_
$28,563.46
.Sale of investments
5110468.51
Decrease in inventory
39.40
80,071.37
$91,218.59
Deductions:
Payment of bonds
$25,000.00
Additions to,fixed assets
5,272.00
Increase in accounts- receivable
2,715:00
Increase in due from.other funds
905.00
._Increase.in. prepaid insurance
199.30
Decrease in liabilities;
„_- Balance . at January 1, 1971;
Accounts' payable.
$10;897.16
Accrued payroll
1;786.36
Accrued interest
6;121.67
Due;to other.funds
35;607.69
$54,412.88
Balance at December 31, 1971:
Accounts payable
$ 9,318.71
Accrued payroll
2,396.46
Accrued interest
5;763.34
Due to other funds
36,371.69
53,850.20
562.68
34,653.98
Balance at December 31, 1971
.$56,564.61
-47-
RECREATION CENTER,FUND
STATEMENT OF INCOME AND EXPENSE
VILLAGE OF EDINA
Year Ended December hl 1971
Revenues:
Season tickets
$ 28,570.00
Daily skating fees
8,045.00
Spectator fees
24,117.00
Ice rental
120,489.00
Skate sharpening and repair
7,562.00
Other
1,531.19
Concession income
$192457.00
Less operating expense:
Cost of food sold
$ 7,705.00
Salaries and wages
3,210.00
:10,915.00
8,542.00
$198,856.19
Operating expenses:
Salaries and wages:
Manager
$12,240.00.
Supervision and clerical
.7,382.00
Ice guard
2,329.00
Cashier and ticket takers
9,718.00
Custodian
9,765.00
Maintenance
27,231.00
Organist
1,000.00
$69,665.00
Other expenses:
Light and power
$21,766.00
Fuel and heat
152258.00
Central services
10,860.00
Equipment maintenance
22261.00
Lumber and paint
12640.00
Mileage and conference expense
1,037.00
Telephone
737.00
Printing
1,862.00
Supplies
9,282.00
Insurance
1,549.00
Audit
700.00
Rubbish hauling
800.00
Renovation.of parking lot
5,740.00
Other
715.00
74,207.00
143,872.00
$ 54,984.19
Income on investments
720.00
INCOME
BEFORE INTEREST AND.DEPRECIATION
$ 55,704.19
Interest expense:
On bonds
$16,941.00
On loan from Liquor Dispensary Fund
10,200.00
27,141.00
INCOME BEFORE
DEPRECIATION
$ 28,563.19
Provision for depreciation
4,295.00 .
NET INCOME
$ 24,268.19
-48-
-49-
RECREATION CENTER. 'FUND
FIXED ASSETS .
VILLAGE OF EDINA
Year Ended December 31, 1971
Balance
Balance
January 1,
December 31,
1971
Additions
1971
ASSETS
Land improvements
$ 39,160.06
$:39,160.06
Buildings
795,252.13
$5,272.00
800,524.13
Furniture and - equipment
42,110.67
42,110..67
$876,522.86
$5,272:00
$881,794.86
ALLOWANCES FOR DEPRECIATION
Furniture and equipment
13,111.11
4,295.27
17,406.38
NET BALANCE $863,411.75
$ 976.73
$864,388.48
-49-
RECREATION CENTER FUND
BONDS PAYABLE
VILLAGE OF EDINA
December 31, 1971
Annual maturities and
interest dates
March 1 and
March 1 and
February l and
September l
September 1.
August 1
Interest rates
3.1% to 3.3%
3%
5%
Year
Series A
Series B
Series C
Total
1972
$ 10,000.00
$ 5,000.00
$10,000.00
$ 25,000.00
1973
20,000.00
10,000.00;
10,000..00
40,000.00
1974
20,000.00
10,000::00
10,000.00
40,000.00
1975
20,000.00
10,000.00
10,000.00
40,000.00
1976
20,000.00
10,000.00
10,000.00
40,000.00
1977
20,000.00
10,000.00
10,000.00
40,000.00
1978
30,000.00
15,000.00
.10,000.00
55,000.00
1979
.30,000.00
15,000.00
10,000.00
55,000.00
1980
30,000.00
15,000.00
45,000..00
1981
30,,000.00
15,000.00
45,000.00
1982
30,000.00
15,000.00
45,000.00
TOTAL $260,000.00
$130,000.00
$80,000.00
$470,000.00
-50-
GUN RANGE FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1971
ASSETS
Cash on deposit (deficit)
Prepaid insurance
Fixed assets - on the basis of cost:
Land improvements
Building
Furniture and equipment
Less allowances for depreciation
LIABILITIES AND SURPLUS.
Accounts payable
Due to other funds
Surplus:
Invested .in fixed assets:
Direct
Contributed:
Property donated by others
Unappropriated: (deficit)
($ 6,416.52)
423.75
$ ,2,878.00
40,824.61
$586.00
:29.30 556.70 44,2`59.31
$38,266:54
580.00
$'4,259.31
40,000.00 44,259.31
( 6,795.95)
$38,266..54
-51-
-52
GUN RANGE FUND
STATEMENT OF .SURPLUS
VILLAGE OF EDINA
Year.Ended
December 311
1971
Unappro-
Invested in
Fixed Assets
priated
Direct
Contributed
Balance (deficit) at January.1,.1971
_
($ ''945.61)
$ 945.61.
$40,000.00
Deduction:
Net loss for-year
(.2,536.64)
Transfers in (out):
Additions to fixed assets
(3,343.00).
3,343.00
Provision for depreciation.
29.30
( 29.30)
Balance (deficit)
at December 31, 1971
($6,795.95)
$4,259.31
$40,000.00
-52
GUN.RANGE FUND
STATEMENT OF ' INCOME AND.'-EXPENSE
VILLAGE OF.EDINA
Year Ended December 31, 1971
Revenues:
Range fees $ 595.00.
Other 282.36
$ 877.36
Operating.expenses':
Salaries and wages:
Supervision and clerical $1,000.00
Maintenance 291.00 $1,291.00
Light and power 1,115.00
Telephone 152.00
Insurance 15:2.00
Supplies 551.00
Other 119.00 3,385.00
LOSS BEFORE DEPRECIATION $2,507.64
Provision for depreciation 29.00
NET LOSS $23536.64
-53-
GUN RANGE FUND
ANALYSIS'OF-'CHANGE 'IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1971
Balance at January. 1, 1971
Additions:
Revenue - see separate schedule for detail
Deductions:
Expenses for the year - see separate schedule
.Less provision.for depreciation not requiring
.cash
Additions to fixed .assets
Increase in prepaid expense
Decrease in amounts payable:
Balance at January,l, 1971:
Due to other funds
Balance at December 31, 1971:
Accounts a able $223 18
$3,414.00
29.30. $3,384.70
. 3,343.00
423.75
$ 945.61
877.36
$ 877.36
P y
Due to other funds 580:00 803.18 142.43 7,293.88 ,
Balance (deficit) at December 91,.1971 ($6,416.52)
=54-
.ASSETS
Land improvements
Buildings
Furniture and equipment
ALLOWANCES FOR.DEPRECIATION
Furniture and equipment
GUN RANGE FUND
'FIXED ASSETS
VILLAGE OF'EDINA
Year Ended December 31,.1971
.Balance
January-1,
1971
$ 492.00
40,453.61
$40,945.61
Additions
$2,386.00
371.00
586.00
$3,343.00
Balance
December 31,
2,878.00
40,824.61
586.00
$44,288.61
29.30 29.30
NET BALANCE. .$40,945.61 $3,313.70 $44,259.31 .
-55-
PARK SINKING.FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1971
ASSETS
Cash:
Demand deposits
Time-deposits
Investment.:
United States Treasury notes - at cost
Receivables:
Taxes receivable — current and delinquent
Taxes receivable - deferred
Less allowance for delinquent °and
uncollectible taxes
LIABILITIES, RESERVE AND SURPLUS
Amount payable during -1972:
Due to other funds
Interest
Bonds
Bonds payable
Less current portion— shown above
Reserve for future interest
Less current portion - shown above
Unappropriated surplus
$ 17,347:26:
100,000.00 $117,347.26
25,000.00
$ 74,023.70
475,000.00
$549,023.70
30,323.70 518,700.00
$661,047.26
-56-
$ 8,747.50
17,810.00
50,000.00
$ 76,557.50
$490,000.00
50,000.00
440,000.00
$ 95,365.00
17,810.00
77,555.00
66,934.76
$661,047.26
-56-
PARK SINKING FUND
STATEMENT OF SURPLUS
VILLAGE 'OF 'EDINA
Year Ended December 31, 1971
Balance at January. 1, 1971
Additions:
Income on investments
Transfers:
Reserve-for future interest
Reserve for uncollectible taxes
Deductions:
Allowance for delinquent taxes.
Payment to fiscal agents:
Interest
Service charge
•;:$60,043.66
$ 4,604.49
$19,375.00
3,190.00 22.,565.00 27,169.49.
$87,213.15
$ 725.89
$19,375.00
177.50 19,552.50 '20,278.39
Balance at..December 31,.19.71 $66,934.76
-57-
PARK SINKING FUND
ANALYSIS 'OF CHANGE'IN'CASH BALANCE
VILLAGE OF 'EDINA
Year Ended December 31, 1971
Balance at January 1,.1971 $ 94,333.66
Additions:
Tax -settlements.received from county:
March 1971 $ 3,196.11
June 1971. 32,127.62
November 1971 28,890.38 $64,214.11
Income on investments 4,604.49
Payment.received on- amount due from
other funds at December 31,.1970. 5,000.00 .73,818.60
$168,152:26
'Deductions:
.Payment to fiscal agents:
Principal $40,000.00
Interest 102680.00
Service charge 125.00 50,805.00
Balance at December 31,.1971 $117,347.26
-58-
PARK SINKING FUND
BOND AND INTEREST MATURITIES AND.DEFERRED,TAX LEVIES
VILLAGE OF EDINA
December 31,.1971
Annual maturities and .interest dates
Interest rates
L.
Year Bonds
1973
$ 50,000.00
'1974
50,000.00
1975
50,000.00
1976
40,000.00
1977
50,000.00
1978
50,000.00
1979
50,000.00
1980
50,000.00
1981
50.000.00
TOTAL $440,000,.00
March:l, June 1,
September:l'.and
December 1
2.9% to 3.9%
-59-
Excess
(Deficiency).
of.Deferred
Levies over
Bond and
Interest
Deferred
Interest
Maturities
Levies
$16,040.00
($ 5,960.00)
$172,000.00
14,230.00
( 7,770.00)
72,000.00
12,380.00
( 10,620.00)
73,000.00
10,530.00
( 12,470.00)
63,000.00
8,775.00
( _5:; 25.00)
64,000.00
6,825.00
( 89175.00)
65,000.00
4,875.00
( 11,125.00)
66,000.00
2,.925.00
'52,925.00
975..00:.
50,975.00
$77,555.00
$42,555.00
$475,000.00
-59-
Cash on deposit (deficit)
Due from other funds
Donations receivable
Fixed assets - at cost:
Land
Construction in progress
PARK CONSTRUCTION FUND
BALANCE SMET
VILLAGE OF EDINA
December 31;1971
ASSETS
LIABILITIES, RESERVE AND SURPLUS
Accounts payable
Due to other funds
Contracts payable for purchases of land
Reserve for construction (deficit)
Surplus invested in -fixed assets
($ 200,726.92)
59,199.69
32,000.00
$708,529.61
469,976.41 4178,506.02
$1,068,978:79
$ 6,069.44
3,617.00
14,739.22
( ;119,213.67)
1,163,766.80
$1,068,978.79
-60-
PARK CONSTRUCTION FUND
ANALYSIS OF'RESERVE FOR CONSTRUCTION
VILLAGE OF EDINA
Year Ended December 31, 1971.
Balance (deficit) at January 1, 1971
Additions:
Transfer from Liquor Dispensary. Fund
Other
Deductions:
Purchase of fixed assets
Contract payment.for purchase of land
:Due-from Waterworks Fund
($ 52,487..89)
$ 80,000.00
2,420.97 82,420.97
$ -29 933.08
$167,238.75
15,700.00
$182,938.75
33,792.00 149,146.75
Balance (deficit) at December 31,. 1971 ($119,213.67)
-61-
PARK CONSTRUCTION FUND
ANALYSIS'OF- CHANGE IN CASH,BALANCE
VILLAGE OF EDINA
.Year Ended December 31, 1971
Balance (deficit) at January.l, 1971
Additions:
Transfer from.Liquor Dispensary Fund
Donation for Brian.Wippermann Gun
Safety Range
'Payments received on accrual at December 31,
1970
Miscellaneous
Deductions:
Purchase of fixed assets
Decrease in!liabilities:
Balance at January 1,..1971
Accounts payable $10,735.48
Due to other funds 72,181.06
Contracts - payable 30,439.22
$113,355.76
Balance at December 31,.1971:
($ 46,134.99)
$ 80,000.00
4,000.00
15,155.95
2,420.97 101,576.92
$'55,441.93
$167,238.75
Accounts. payable $ 6,069.44
Due to other funds 3,617.00
'Contracts payable 14,739.22 24,425.6 6, 88,930.10 256,168.85
Balance (deficit) at December 31, 1971 ($200,726.92)
-62-
PARK CONSTRUCTION FUND
FIXED ASSETS
VILLAGE OF EDINA
(A) Transferred to Waterworks Fund.
-63-
Year Ended December
31, 1971
Balance
Balance
January 1,
December 31,
1971
Additions,
Transfers 1971
Land:
Braemar Park
$ 229,570.37
$ 229,570.37
Pamela Park
2,440.00
2,440.00
Division Park
225.81
225.81
Mud Lake
421,827.27
$ 31,628.75
453,456.02
Cornelia Park
8,616.55
11,669.81
2019286.36
Morton Arneson Park
2;551.05
2,551.05
$ 665,231.05
$•.43,298.56
$ - $ 708,529.61
Construction in progress:
Pamela Park
$ _246,784.67
$.37,813.11
$33,792.00(A)$::2509 .805.78
Braemar Park
34,974.28
23,508.74
58,483.02
Mud Lake
11,728.74
4,873.34
16,602.08
:Historical site
13,027.97
21,207.46
34,235.43
Weber Park
514.30
514.30
'Beard Park
9,928.15
650.91
10,579.06
Heights Park
700.00
2,253.24
2,953.24
WalnuE Ridge Park
:4,275.76
4,785.82
9,061.58
Cornelia School Park
341.84
719.50
;1,061.34
Garden Park
182.00
182.00
'Braemar Sports Complex
45,351.71
45,351.71
Creek Valley School Park
5,638.05
5,634.32
11,272.37
Highlands Park
6;380.75
6,380.75
Gun Range
-
5,728.74
5,728.74'
Nine Mile Creek
-
1,421.20
1,421.20
Alden Park
-
937.67
937.67
Division Park
-
3,801.50
3,801.50
Countryside Park
-
330.61
330.61
Lake Edina Park
-
792.23
792.23
Chowen Park
-
472.65
472.65
Sherwood Pump Park
-
349.14
349.14
.Braemar Pavilion
-
3,118.51
3,118.51
Arden Park
-
5,541.50
5,541.50
$ 379,828.22
$123,940.19
$33;792::00 $ 469,976.41
$1,045,059.27
$167,238.75
$33,792.00 $1,178,506.02
(A) Transferred to Waterworks Fund.
-63-
IMPROVEMENT FUNDS
i
COMBINED BALANCE
-
SHEET
i
VILLAGE
OF EDINA
1 f
December
31, 1971
Advance
Joint
Permanent
Sanitary
Improvement
Municipal
Funding
Sewer
Improvement
Sewer
Southdale 1
Bond
State -Aid
Highway
Total
Eliminations Construction i
No. 1
Revolving
No. 53
Improvement
Redemption
Street Bonds
Bonds
ASSETS
Cash (deficit):
Demand deposits
($ 99;438.96)
($ 453,628.47)
$2,564.40
$ 49,804.63
$ 18,188.22
$ 5,978.96,
$ 240,082.47
($.....423.82)
$ 37,994.65
Time deposits
300,000.00
100,000.00
50,000.00'
100,000.00
.50,000.00
$ 200,561.04
$ - ($ 453,628.47),
$2,564.40
$ 49,804.63
$118,188.22
$55,978.96
$ 340,082.47
($ 423.82)
$ 87,994.65
Investments
3,815,729.99
11521000.00
1,187,497.78
2,513,232.21
Receivables:
Special assessments:
Current - certified in 1971 -
collectible in 1972
$ 1,698,842.59
$ 4,657.43
$ 19,832.05
$ 1,674,353.11
Delinquent
4082948.33
32,337.80
6,715.52
369,895.01
Deferred
7,077,548.10
18,029.14.
7,059,518.96
Assessments receivable - Village
share of projects:
Deferred
224,714.89
12,960.94
211,753.95.
$ 9,410,053.91
$ - $ -
$ -
$ 36,9951.23
$ 57,537.65
$ -
$ 9,315,521.03
$ -
$ -
Less allowance for delinquent and
uncollectible taxes
859,114.51
(
32,570.67
9,367.53
817,176.31
$ 8,550,939.40
$ - $ -
$ -
$ 4,424.56
$ 48,170.12
$ -
$ 8,498,344.72
$ -
$ -
Due from other fund
205,613.92
87,449.51
100,000.00
18,164.41
Due from Construction Fund for advances
-
1,244,312.12
100,000.00
1,144,312.12
Due from Minnesota State -Aid Fund
850,000.00
850,000.00
Construction in progress:
Current
2,071,544.97
2,071,544.97
Deferred
622088.42
62,088.42
Unallocated construction cost
80,687.43
7,521.45
73;.165.98
Sundry receivables
3,750.00
3,750.00
$15,840,915.17
$1,244,312.12 $1,774,975.88 1
$2,564.40
$369,229.19
$166,358.34
$55,978.96
$11,265,317.48
$849,576.18.
$2,601,226.86
LIABILITIES,_RESERVE AND.SURPLUS
Accounts payable
$ 6,269..06
$ 6,269.06
Accrued interest
45,870.66
'
$ 300.00
.45,570.66
Due to Hennepin County
8,969.55
$ 93.40
82876.15
Due to other funds
144,699.46
$ 138,620.77 I
$ 4,435.60
1,643.09
Construction contracts payable
62,088.42
622088.42
Advance from Improvement Fund
Bonds payable
122230,000.00
$1,2442312.12 1,244,312.12 1
120,000.00
302000.00.
8,730,000.00
$850,000.00
$22500,000.00.
Construction deposits
289,337.17
289,337.17
12,673.60
117,776.18
Reserve for assessment adjustments
138,312.69
7,862.91
Reserve for construction
Unappropriated surplus
40,617.40
2,8742750.76
40,617.40
$2,564.40
356,930.68
462264.94
13,005.36
22355,182.34
( 423.82)
_ 101,226.86
$15,840,915.17
$1,2442312.12 $12774,975.88 1
$2,564.40
$3692229.19
$166,358.34
'$55,978.961
$11,265,317.48
$8492576.18
$2,601,226.86
-64-
IMPROVEMENT FUNDS
i
j
STATEMENT OF SURPLUS - UNAPPROPRIATED
VILLAGE OF EDINA
Year Ended December 31, 1971
,I
Advance
Joint
Permanent
Sanitary
rImprovement
Municipal
Funding
Sewer j
Improvement
Sewer
Southdale
Bond
State -Aid
Highway
Total
No. 1
Revolving
No. 53
Improvement
;_Redemption
Street Bonds
Bonds
Balance at January 1, 1971
$2,684.,356.32
$2,564.40
$3.50,226.48
$55,858.93
$11,930.72
$2,219,127.52
$251.18
$ 44,397.09
Additions:
Interest spread on assessments for collection in 1972
$ ..429,444.41
1
$ 221.83
$ 1,802.91
$ 427,419.67
Income on investments
288,556.77
I
6,237.67
6,070.48
$ 2,083.89
128,184.64
$145,980.09
Capitalized interest
45,812.29
45,812.29
Received from Minnesota State -Aid Street.Fund
49,320.00
I
I
49,320.00
Other
647:96
67.40
1 580.56
$ 813,781.43
$ -
$ 6,526.90
$ 7,873.39
$ 2,083.89
$ 601,997.16.
$ -
$195,300.09
Deductions:
Interest on bonds
$ 555,892.50
$ 4,960.00
$ 975.00
$ 411,832.50
$138,,125.00
Bank .service charges
2,647.01
108.00
34.25
2,159.44
345.32
Cost of.bond sale
790.00
115.00.
$675.00
Cancellation and adjustments
12,806.57
12,806.57
$ 572,136.08
$ - ;
$ -
$17,874.57
$ 1,009.25
$ 414,106.94
$675.0 0
$138,470.32
$2,926,001.67
$2,564.40
$356,753.38
$45,857.75
$13,005.36
$2,407,017.74
($423.82)
$101,226.86
Change in reserve for delinquent taxes
( 51,250.91)
177.30
407.19
51,835.40)
Balance (deficit) at December 31, 1971
$2,874,750.76
$2,564.40
l
f,
$356,930.68
$46,264.94
$13,005..36
$2,355,182.34
i
1
�
($423.82)
$101,226.86
,I
I�
i
i
-65-
Balance (deficit) at January 1, 1971
Additions:
Collections on special assessments:
By County Auditor
By Village
Proceeds from sale of bonds
Sale of investments
Advance from Improvement Bond Redemption Fund
Payment received.on connection charges
Construction deposits received
Payments received from Municipal State -Aid Street Fund
Advance from Municipal State -Aid Street Fund
Collection received on accounts at December 31, 1970
Other
Deductions:
Construction costs charged to others :.
General Fund
Permanent Improvement Revolving Fund
Park Fund
Improvement Bond Redemption Fund
State of Minnesota Highway Department
State -Aid Division
Waterworks Fund
Other
Less payments received
Decrease in construction in progress:
Balance at January 1, 1971:
Current construction $22,356,704.83
Deferred construction 376,257.46
Unallocated 7,918.98 $2,740,881.27
Balance at December 31, 1971:
Current construction $2,071,544.97
Deferred construction 62,088.42
Unallocated 7,521.45 2,141,154.84
$ 599,726.43
$ 43,102.78
4,435.60
1,187..31
808,801.67
751,948.73
437,086.73
29.323.09
$2,075,879.91
9.342.64
$2,066,537.27
Combined .
$ 643,446.18
$1,738,719.33
463,865.72
400,000.00
2,280,668.69
600,000.00
.56,928.60
1,864.92
348,328.73
400,000.00
155,851.72
580.56
,$6,446,808.27
IMPROVEMENT FUNDS
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1971
Construction
$ 51,455.51
$. 600,000.00
1,392.39
.1,864.92
74,008.73
.400,000.00
110,399.33
$1,187,665.37
Joint Permanent
Sewer Improvement
No. 1 Revolving
$2,564.40 $42,692.32
$ 4,218.66
6-1237.67
$ - $10,456.33
-66-
it
,I
li
1
�
Advance
Sanitary
Improvement:;
Municipal
Funding
Sewer
Southdale
Bond
State -Aid
Highway
No. 53.
Improvement
Redemption
Street Bonds
Bonds
($ 2,112616)
'' $39,593.90
$ 529,670..3'2
$ 251.18
($ 20,669:29)
,
$ 20,380.55
I
$1,714,120.12
1,845.47
462,020.25
$400,000.00
143,142.36
$32,544.31
1,213,82,1.76
$884,922.59
55,536.21
225,000.00
49,320.00
45,452.39
580.56
$165,368.38
$32,544.31
r
r
i
$3,491,531.29;;
i
$625,000.00
$934,242.59
-66-
Deductions (cont'd):
Decrease in contracts payable:
Balance at January 1, 1971
Balance at December 31, 1971
Less amount due General Fund for
construction costs
Payment to other funds accrued at
December 31, 1970
Investments purchased
Payment to County Auditor for bookkeeping
charges
Transfer to Construction Fund
Bonds redeemed
Interest on bonds
Bank service charges
Return of construction deposits
Refunds and adjustments
Cost of bond sale
$ 376,257.46
62,088.42 $ 314,169.04 $ 285,557.39
$1,780,979.88
138,620.77
Balance (deficit) at December 31, 1971
Combined
IMPROVEMENT FUNDS
ANALYSIS OF CHANGE IN CASH BALANCE (Cont'd)
Joint
Sewer
Construction. No. 1
$1,642,359.11
$1,642,359.11
51,890.12
48,384.44
1,798,606.11
1
1,352.35
$400,000.00
1,000,000.00
225,000.00
1,825,000.00
564,398.00
2,647.01-
607.06
2,005.80
23,005.80
644.91
$3,681,119.14
790.00
$ 340,082.47
- 6,889,693.41
$1,692,749:.35
$ 200,561.04
($ ,453,628.47) $2,564.40
Permanent
Improvement
Revolving
$ 3,306.17
Sanitary
$ 40,000.00
4,9.60.00
108.00
37.85
.$:3,344.02 �$ 45,068.00
$49,804.63 $118,188.22
Southdale
Improvement
$15,000.00
1,125.00
34.25
$16,159.25
$55,978.96
i
,I
I
I
i
I
I
Improvement Municipal
Bond State -Aid
Redemption Street Bonds
$ .199.51
1,111,497.78 .
1,352.35
1
600,000.00
$400,000.00
1,545,000.00
225,000.00
420,188.00
2,159.44
607.06
115.00
675.00
$3,681,119.14
$625,675.00.
$ 340,082.47
i ($ 423.82)
I
I
i
.Advance.
Funding
Highway
Bonds
$687,108.33
138,125.00
345.32
$825,578.65
$ 87,994.65
-67-
IMPROVEMENT FUNDS
BONDS PAYABLE
VILLAGE OF EDINA
December 31, 1971
Annual maturities and interest dates
Interest rates
-68-
i
i,
r
i;
i
Advance
Sanitary
Improvement.
Municipal
Funding
Sewer
Southdale
Bond
State -Aid
Highway
Year
Total j
i
No. 53
Improvement
Redemption
Street Bonds
Bonds
January..l
March 1
i
March 1, May 1,.
June.1 and
January,l
and
and
June 1,
December 1
and
July 1
September l
September 1,
July 1
November :l and
December 1
,l
'
3.1%
3%
2.9% to 5.70%
5% to 6%
5.40% to
5.70%
1972
$ 1,560,000.00
$15,000.00
$1,545,000.00
1973
1,825,000.00
$: 40,000.00
15,000.00
1,545,000.00.
$225,000.00
1974
2,135,000.00
40,000.00
15,245,000.00
225,000.00
$. 625,000.00
1975
1,970,000.00 f
40,000.00
1,105,000.00
200,000.00
6251000.00
1976
1,930,000.00
1,105,000.00
200,000:00
625,000.00
1977
1,380,000.00 ?
755,000.00
625,000.00
1978
715,000.00
715,000.00
1979
715,000.00
715,000.00
TOTAL
$12,230,000.00.
I
'I
i
f
.I
i
$120,000.00
$30,000.00.
$8,730,000.00
i
1.
$850,000.00
$2,500,000.00
-68-
ASSETS
CURRENT ASSETS
Cash
Demand deposits
Time deposits
Appro.priated:.funds
Investments - at cost and accrued interest
which approximates market:
Federal Land'Bank bonds
United States Treasury notes
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 investments - reserve for debt
retirement
FIXED ASSETS - Note A
Land
Land improvements
Distribution system
Buildings and .equipment
Less allowances for depreciation
WATERWORKS
BALANCE
VILLAGE
December
$ 11,282.02
300,000.00 $ 311,282.02
10,018.75
$ 321,300.77
$ 101,057.29
25,172.33
$ 126,229.62
70,665.00 55,564.62
$ .104,195.67
13,740.30 117,935.97
$ 16,737.70
.1,750.00 18,487.70
768.00
TOTAL CURRENT ASSETS $ 514,057.06.
70,665.00
$ 27,556.38
$ 19,723.72
6. 058,638.71
2,427,431.32
$8,505,793.75
2,097,798.49 6,407,995.26 "6,435,551.64
;$7,020,273.70
FUND
SHEET
OF ' EDINA
31,_1971
LIABILITIES AND`SURPLUS
CURRENT LIABILITIES
Accounts payable
Salaries and wages
Due to other funds
Interest
Current maturities of bonds.payable
LONG -TERM DEBT
Bonds 'payable - Note B
Less current maturities shown above
SURPLUS
Invested in fixed assets:
.Direct
Revaluation of fixed assets - Note A
Contributed by- special assessments -
Note A
Contributed.by.General Fund
Appropriated for debt service
Unappropriated
See notes to balance sheet..
$ 9,051.15
1,812.20
70,878.73
2,574.17
$ '84,316.25
55,000.00
TOTAL CURRENT'LIABILITIES $ 139,316.25
$ 475,000.00
55,000.00 420,000:00'
$1,342,753.76
.23,239.64,.
4,583,589.74
10,968.50 $5,960,551.64
80,683.75
419,722.06 6,460,957.45
$7,020,273.70
-69-
WATERWORKS. FUND
NOTES :TO BALANCE'SHEET
VILLAGE OF EDINA
December 31, 1971
Note A - The original utility purchased in 1947 is carried at amounts based on appraisal at
time of acquisition. Subsequent purchases are carried on the basis of cost. Water -
mains for which the benefited property owners have been assessed are carried on
the basis of construction cost with contra- credit to surplus contributed .by special
assessments. Each of the aforementioned amounts has been - reduced -by the depreci-
ation thereon charged to income, 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:
Bonds of the 1959 issue are subject,to redemption and prepayment at the option of
the�Village on any interest date 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.
-70-
1959 Issue
1963'Issue
Total
Annual maturities and
interest dates
March l and
June l and
'September 1
December -1
Interest.rates
3.50%
3.00 %,
.3.20% and
3.30%
Annual amount of
,maturities:
1972
$- 35,000.00
$ 20,000.00
$ 55,000.00
1973
35,000.00
20,000.00
55,000.00
1974
.35,000.00
20,000.00
`55,000.00
1975
40,000.00
'20,000.00
60,000.00
1976
50,000.00
'50,000.00'
1977
50,000.00
50,000.00
1978
50,000.00
150,000.00
1979
50,000.00
50,000.00
1980
'50,000.00
50,000.00
TOTAL .$145,000.00
$330,000.00
$475,000.00
Bonds of the 1959 issue are subject,to redemption and prepayment at the option of
the�Village on any interest date 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.
-70-
WATERWORKS 'FUND
STATEMENT OF'SURPLUS
VILLAGE OF'EDINA
Year Ended December 31, 1971
Balance -at January-1, 1971
Additions:
Watermains contributed by'special
assessments
Net income for-year
Transfers in (out):
Provision for depreciation'
Bonds retired
Additions to fixed assets
Decrease in appropriation -of funds
for reserve for debt retirement
Balance at.December 31, 1971
Appropriated
for Debt
Total Unappropriated Service
$6,294,614.28 $774,745.33 $82,771.25
125,051.26
Invested .in
41,291.91
41,291.91
$6,460,957.45
$816,037.24 $82,771.25
-
207,238.45
-
( 55,000.00)
-
(.550,641.13)
-
2,087.50 ( 2,087.50)
$6,460,957.45
$419,722.06 $80,683.75
j
ry
Invested .in
is
i
,,
i
Fixed:Assets
j
Contributed
Contributed
Revaluation
by Special
by
of Fixed
Direct
Assessments
i General Fund
Assets
$ 830,525.05
$4,571,354.92
1
$11,296.11
$23,921.62
'
125,051.26
',
I
$ 830,525.05
$4,696,406.18
' $11,296.11
$23,921.62
( 93,412.42)
(. 112,816.44)
( 327.61)
( 681.98)
55,000.00
550,641.13
i
$1,342,753.76
$4,583,589.74
- $10,968.50
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j
i
$23,239.64
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I
-71-
WATERWORKS '.FUND
STATEMENT 'OF INCOME .AND EXPENSE
VILLAGE OF EDINA
-72-
Per Cent to
Year Ended
December 31
Increase
Gross Income.
1971
1970
Decrease*
1971 1970
Number of meters in use:
At end of year
9,734
9,431
303
At beginning.of year
9,431
9,163
268
Operating.income:
Sale of meters
$ 24,059.00
$ 19,492.00
$ 4,567.00
Less:cost of meters sold
20,402.00
16,570.00
3,832.00
$ 3,657.00
$ 2,922.00
$ '735.00
Water sales
463,490.00
469,071.00
'5,581.00*
Penalties
8,294.00
7,949.00
345.00
Water connection permits
1,582.00
1,412.00
170.00
;Tapping:fees
122.00
128.00
6.00*
Use of hydrants
13,740.00
116,722.00
2,982.00*
Miscellaneous
1,365.91
1,227.28
138.63
$492,250.91
$499,431.28
$ 7,180.37*
100.00% 100.00%
Expenses:
Pumping:
Labor
$ 12,417.00
$ 10,682.00
-$ 1,735.00
Power and light
50,891.00
50,814.00
77.00
Supplies and .repairs
5,932.00
2,144.00
3,788.00
Buildings:
Labor
2,605.00
2,830.00
225.00*
-Fuel
2,913.00
2,698.00
215.00
Supplies
4,024.00
430.00
3,594.00
,Repairs
37.00
256.00
X219.00*
Insurance
936.00
870.00
66.00
Water purchased
20,807.00
20,263.00
'544.00
Provision for depreciation
35,495.00
33,193.00
2,302.00
$136,057.00
$124,180.00
$11,877.00
27.64%, .24.86%
Distribution:
Labor
$ 15,659.00
$-14,936.00
$ 723.00
Materials and supplies
9,542.00
:- .6,355.00
3,187.00
Operation of meters:.
Labor
14,971.00
11,421.00
3,550.00
Supplies and expenses
2,555.00
3,025.00
470.00*
Provision for depreciation
119,306.00
115,643.00
3,663.00
Repairs
13,247.00
5,585.00
7,662.00
$175,280.00
$156,965.00
$18,315.00
35.61 31.44
.Tanks, towers and reservoir:
.Labor
$ 3,760.00
$ 1,370.00
$ 2,390.00
Power and lease lines
1,510.00
1,268.00
242.00
Supplies and expenses
436.00
201.00
235.00
Provision for depreciation
.30,648.00
22,674.00
7,974.00
Insurance
664.00
757.00
93.00*
$ 37,018.00
$ 26,270.00
$10,748.00
7.52 5.26
-72-
WATERWORKS FUND
STATEMENT OF 'INCOME AND EXPENSES ( Cont'd)
Expenses (cont'd):
Water treatment:
Labor
Supplies and expenses
Provision.for 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 INCOME
Depreciation, computed by the
straight line method charged
to operations
$207,239.00 $193,233.00 $14,006.00
-73-
Per Cent to
Year Ended
December 31
Increase
Gross Income
1971
1970
Decrease*
1971 1970
$ 4,485.00
$ 4,928.00
$ 443.00*
17,701.00
19,064.00
1,363.00*
19,189.00
19,080.00
109.00
$ 41,375.00
$ 43,072.00
$- 1,697.00*
8.41% .8.62%
$ 7,980.00
$ 6,960.00
$ 1,020.00
1,726.00
1,69 &.00
28.00
$ 9,706.00
$ 8,658.00
$'1,048.00
1.97 1.73
$ 12,840.00
$- 12,000.00
$ 840.00
4,104.00
'5,590.00
1,486.00*
12,619.00
11,931.00
688.00
178.00
219.00
41.00*
13,260.00
11,400.00
.1,860.00
3,600.00
.3,600.00
-
875.00
945.00
70.00*
5,176.00
3,754.00
1,422.00
728.00
1,313.00
585.00*
840.00
780.00
60.00
$ 54,220.00
$ 51,532.00
$:2.688.00
11.01 10.32
$453,656.00
$410,677.00
$42,979.00
92.16% 82.23%
$ 38,594.91
$ 88,754.28
$50,159.37*
7.84% 17.77%
19,777.00
30,256.00
10,479.00*
4.02 6.06
$ 58,371.91
$119,010.28
$60,638.37*
11,.86% 23.83%
$ 17,008.00
$ 18,135.00
- _$;1,127.00*
72.00
77.00
5.00*
17,080.00
$ 18,212.00
$ 1,132.00*
3.47 3.65
$ 41,291.91
$100,798.28
$59,506.37*
8.39% .20.18%
$207,239.00 $193,233.00 $14,006.00
-73-
WATERWORKS FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31,1971
Balance at January 1, 1971
Additions:
Collections on accounts receivable
Collections on amounts due from other funds
Sale of water meters
Sale of investments
Sundry sales and services
Income on:investments
Decrease in prepaid insurance
Increase in.amounts payable:
Balance at December 31,1971:
Trade accounts
Accrued payroll
Due to other funds
Balance at January 1,.1971:
Trade accounts
Accrued payroll
Deductions:
Payment to fiscal agent:
Principal
Interest
Service charge
Meters purchased
Additions to fixed assets
Less
Amount contributed
Amount advanced to Construction
Fund
Operating expenses
Less provision for depreciation
not requiring cash
Payment of sales tax
Refunds
.Summary:
Sinking Fund
Operating Fund
$476,854.70
16,722.31
24,059.00
127,513.22
3,455.65
19,777.00
27,85
$ 9,051.15
1,812.20
70,878.73
$ 81,742.08
$ 90,542.27
$ 12,572.57
1,726.72 14,299.29 67,442.79 735,852.52
$826,394.79
$ 55;000.00
17,455.00
72.00 $ 72,527.00
21,294.87
$675,692.39
$125,051.26
400,000.00 525,051.26 150,641.13
$453,656.00
207,239.00 246,417.00
13,039.00
1,175.02 505,094.02
Balance at December 31,.1971 $321,300.77
$ 10,018.75
311,282.02
$321,300.77
-74-
WATERWORKS'FUND
FIXED ASSETS
VILLAGE OF'EDINA
Year Ended December 31, 1971
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
Construction in progress
TOTAL .$7,857,657.74 $675,692.39 $ -
I
Allowances for Depreciation
Balance Balance
January 1, ;; December 31,
1971 Additions Deductions 11971
$ - ; $
6,160.26 $ %328.39 6,888.65
I
$ 123,519.24
1,007,383.93
5,678.55
$1,136,581.72
$ .100,286,.35
120,954.35
82,561.51
289,777.71
3,233.06
9,651.75
127,837.27
4,644.14
8,871.92
$ 747,818.06
! $8,533,350.13 $1,890,560.04
$ .6 9-162.36
112,816.44
. 327.61
$119;306.41.
r
$ 14;273.20
13,357.77
7,134.79
30,648,30
45.59
.929.31
18,042.64
,1,725.68
1,f'6.37
$ 87;203.65
$207,238.45
!i
i
$ 129,681.60
1,120.,200.37
6,006.16
$ - $1,255,888.13
$ 114,559.55
134,312.12
89,696.30
320,426.01
3,278.65
10,481.06
145,879.91
6,369.82
10,018.29
$ - $ 835,021.71
$ - $2,097,798.49
.75-
Assets
Balance
Balance
January 1,
Transfer
December 31,
X1971
Additions
In (Out)
1971
$ 27,556.38
$ 27,556.38
;16,667.25
$ 1,292.47
$ 1,764.00
. 19,723.72
$ - 2,77,769.71
$ 60,698.23
$ 338,467.94
5,5789738.85
$125,051.26
5,703,790.11
;16,380.66.
16,380.66
$5,81722889.22
$125,051.26
$:60,698:23 !
$6,058,638.71
$ 3.19,636.82
$ 74,386.89
$ 394,023.71
314,359.24
.39,160.00
353;519.24
162,175.28
19,623.00
11819798.28
566,867.16
398,711.86
965,579.02
3,453.05
3,453.05
;11,918.74
11,918.74
444,140.66
5,445.00
449,585.66
9,884.93
9,884.93
57,318.69
57,318.69
350.00-
350.00
$1,8;9.0,104.57
$ -
$537,326.75
$22-427,431.32
50,440.32
549,348.66
( 599,788.98)
-.
TOTAL .$7,857,657.74 $675,692.39 $ -
I
Allowances for Depreciation
Balance Balance
January 1, ;; December 31,
1971 Additions Deductions 11971
$ - ; $
6,160.26 $ %328.39 6,888.65
I
$ 123,519.24
1,007,383.93
5,678.55
$1,136,581.72
$ .100,286,.35
120,954.35
82,561.51
289,777.71
3,233.06
9,651.75
127,837.27
4,644.14
8,871.92
$ 747,818.06
! $8,533,350.13 $1,890,560.04
$ .6 9-162.36
112,816.44
. 327.61
$119;306.41.
r
$ 14;273.20
13,357.77
7,134.79
30,648,30
45.59
.929.31
18,042.64
,1,725.68
1,f'6.37
$ 87;203.65
$207,238.45
!i
i
$ 129,681.60
1,120.,200.37
6,006.16
$ - $1,255,888.13
$ 114,559.55
134,312.12
89,696.30
320,426.01
3,278.65
10,481.06
145,879.91
6,369.82
10,018.29
$ - $ 835,021.71
$ - $2,097,798.49
.75-
SEWER RENTAL FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1971
ASSETS
Cash on deposit (deficit). ($284,293:49)
Receivables:
From customers $29,632.37
.Assessments receivable 308.78 29,941.15
TOTAL CURRENT ASSETS ($254,352.34)
Fixed assets - on the basis of cost:
Land improvements $ 5,075.44
Furniture and fixtures 2,161.69
Trucks 8,883.68
Equipment 42,572.70
$58,693.51
Less allowances for depreciation 34,105.72 24,587.79
($229,764.55)
LIABILITIES AND SURPLUS
Current liabilities:
Trade accounts payable
Accrued payroll
TOTAL CURRENT LIABILITIES
Surplus:
Invested in fixed assets
Unappropriated (deficit)
$ 2,366.17
1,326.99
$ 3,693.16
24,587.79
( 258,045.50)
($229,764.55)
-76-
SEWER RENTAL FUND
STATEMENT OF SURPLUS (DEFICIT)
VILLAGE OF EDINA
Year Ended December 31, 1971
1 77-
Surplus
Unappropriated
Invested
Surplus
in Fixed
(Deficit)
Assets
Balance (deficit) at January 1, 1971
($144,005.95)
$13,138.46
Deduction:
Net loss for year
102,590.22
($246,596.17)
$13,138.46
Transfers in (out):
Additions to fixed assets
($ 15,490.89)
15,490.89
Provision for depreciation
4,041.56
( 4,041.56)
($ 11,449.33)
$11,449.33
Balance (deficit)
at December 31, 1971 ($258,045.50)
$24,587.79
1 77-
SEWER RENTAL FUND
STATEMENT OF INCOME AND.EXPENSE
Operating income:
Service charges and penalties
Expenses:
Operating:
Sewer maintenance and
treatment
Labor
Supplies
Repairs
Water
Power
Provision for depreciation
Other
Vehicle operation:
Allocated from .equipment
pool
Provision for depreciation
Administrative and general:
Clerical and supervision
Audit
Supplies, telephone,
postage and retirement
Building rental
Provision for depreciation
Professional services
TOTAL EXPENSES
OPERATING LOSS
Other income:
Settlement with City of
Minneapolis for prior
years' rentals
Income on investments
Miscellaneous
NET LOSS
Depreciation, computed by the
straight line method charged
to operations
VILLAGE OF EDINA
Per Cent to
Year Ended December 31 Increase Operating Income
1971 1970 Decrease* 1971 1970
$158,736.00 $154,867.00 $ 3,869.00 100.0% 100.0%
$131,300.00
$143,521.00
$12,221.00*
52,086.00
460108.00
5,978.00
11,948.00
122641.00
.693.00*
14,572.00
18,426.00
3,854.00*
300.00
200.00
100.00
9,587.00
7,440.00
22147.00
2,218.00
12430.00
788.00
748.00
603.00
145.00
$222,759.00
$230,369.00
$ 72610.00*
140.3% 148.7%
$ 5,880.00
$ 42260.00
$ 12620.00
1,777.00
1,738.00
39.00
$ 710657.00
$ 5,998.00
$ 1,659.00
4.8 3.9
$ 52256.00
$ 6,812.00
$ 1,556.00*
900.00
810.00
90.00
9,994.00
8,361.00
1,633.00
780.00
720.00
60.00
46.00
77.00
31.00*
18,073.00
2,108.00
15,965.00
$ 35,049..00
$ 18,888.00.
$16,161.00.
22.1 12.2
$265,465.00
$255,255.00
$10,210.00
167.2% 164.8%
$106,729:.0.0
$1000388.00
$ 6,341.00*
67.2% 64.8%
$ - $ 59,791.00 $59,791.00*
2,111.00 3,621.00 1,510.00*
2,027.78 1,365.97 661.81
$ 4,138.78 $ 64,777.97 $60,639.19* 2.6 41.8
$102,590.22 $ 35,610.03 $66,980619 64.6 %. 23.0%
$ 4,041.00 $ 3,245.00 $ 796.00
-78-
SEWER RENTAL FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1971
Balance at January 1, 1971 $ 667703.67
Additions:
Collections on accounts receivable $155,633.04
Tax settlements received 207.81
Income on investments 2,111.00
Decrease in prepaid insurance 38.50
Other 2,027.92 160,018.27
$226,721.94
Deductions:
Expenses for the year
$265,465.00
Less provision for depreciation
not requiring cash
4,041.00
.$261,424.00
Purchase of fixed assets
15,490.89
Decrease in liabilities:
Balance at January 1, 1971:
Trade accounts
$236,284.21
Accrued payroll
1,199.54
$237,483.75
Balance at December 31, .1971:
Trade accounts
$2,366.17
Accrued payroll
1,326.99 3,693.16
233,790.59
Other
309.95 511,015.43
Balance (deficit) at December 31, 1971 ($284,293.49)
-79-
SEWER RENTAL FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December 31, 1971
ASSETS
Land improvements
Furniture and fixtures
Trucks
Equipment
ALLOWANCES FOR DEPRECIATION
Land improvements
Furniture and fixtures
Trucks .
Equipment
Balance
Balance
January 1,
December 31,
1971
Additions
1971
$ 4,868.35
$ 207.09
$ 5,075.44
2,161.69
2,161.69
8,883.68
8,883.68
27,288.90
15,283.80
42,572.70
$43,202.62
$15,490.89
$58,693.51
$ 1,772.05-
$ 198.86
$ 1,970.91
1,941.74
45.58
1,987.32
2,910.57
1,776.74
4,687.31
23,439.80
2,020.38
25,460.18
x$30,064.16
$ 4,041.56
$34,105.72
NET BALANCE $13,138.46 $11,449.33 $24,587.79
LIQUOR DISPENSARY FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1971
ASSETS
Current assets:
Cash:
Demand deposits
Deposits in transit
Working'funds
Investments - at cost which approximates
market:
Village of Edina — Waterworks Revenue
Bonds of 1959
Accrued interest
United States Treasury notes
Due from other -funds
Merchandise inventory - at the lower of
cost (first- in,.first -out method) or
market:
Liquor
Wine
Beer
Mix and miscellaneous
Prepaid expenses:
Unexpired insurance
Supply inventory
Loans to other funds:
Golf Course Fund
Recreation Center Fund (arena).
Fixed assets - on the basis of cost:
Land
Land improvement
Buildings
Furniture, fixtures and equipment
Leasehold improvements
$ 86,301.31
48,555.61
$ 16,966.43
198.43
$134,856.92
3,000.00
$ 17,164.86
50,924.58
$336,672.25
43,474.43
9,995.11
2 , 892.35
$ 2,612.99
400.00
TOTAL CURRENT ASSETS
$245,000.00
170,000.00
$148,688.50
$ 8,788.86
165,331.92
46,647.74
31,208.29
$251,976.81 '
$ 137,856.92
68,089.44
18,775.00
393,034.14
3,012.99
$ 620,768.49
415,000.00
Less allowances for depreciation
and amortization 135,750.73 116,226.08 264,914.58
$1,300,683.07
LIABILITIES AND SURPLUS
Current liabilities:
Trade accounts payable $ 56,517.49
Salaries and wages 5,005.65
TOTAL CURRENT LIABILITIES $ 61,523.14
Surplus:
Invested in fixed assets
Unappropriated
$264,914.58
974,245.35 1,239,159.93
$1,300,683.07
-81--
LIQUOR DISPENSARY FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year Ended December 31, 1971
Balance at January 1, 1971
Addition:
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 - net
Balance at December 31, 1971
( ) Indicates deduction.
Invested in
Total Available Fixed Assets
$1,065,903.45 $ 896,236.43 $169,667.02
448,256.48 448,256.48
$1,514,159.93 $1,344,492.91 $169,667.02
$ 78,223..00 $ 78,223.00
116,777.00 116,777.00
80,000.00 80,000.00
$ 275,000.00 $ 275,000.00 $ -
$1,239,159.93 $1,069,492.91 $169,667.02
12,317.14 ( 12,317.14)
( 107,564.70) 107,564.70
$1,239,159.93 $ 974,245.35 $264,914.58
-82-
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 1
Purchases
Inventory at December 31
GROSS MARGIN
Operating expenses:
Selling
Occupancy
Administrative
TOTAL OPERATING EXPENSES
OPERATING INCOME
Other income:
Cash discounts
Cash over or (under)
Other
Income on investments
Depreciation and amortization included
in expense
-83-
Year
Ended December
i
731
1 9
7 1
7 1
1970
50th Street
Southdale
Grandview
Total
Total
$ 763,966.00
$4561539.00
$576,755.00
(.$1,797,260.00
$1,760,089.00
178,300.00
124,884.00
135,902.00
! 439,.086.00
361,964.00
186,935.00
70,759.00
112,895.00
370,589.00
353,625.00
24,086.00
12,948.00
22 133.00
59,167.00
60,857.00
$1,153,287.00
$665,130.00
$8479685.00
$2,666,102.00
$2,536,535.00
6,066.00
834.00
1,951.00
8,851.00
8,942.00
$1,147,221.00
$664,296.00
$845,734.00
+ $2,657,251.00
$2,527,593.00
$ 140,067.61
$115,670.90
$116,179.97
$ 371,918.48
$ 379,381.92
873,512.57
514,433.12
. 655,373.97
2,043,319.66
1,918,449.56
$1,0139580.18
$630,104.02
$771,553.94
$2,415,238.14
$2,297,831.48
140,553.18
129,923.02
122,557.94
393,034.14
371,918.48
$ 873,027.00
$500,181.00
$648,996.00
! $.2,022,204.00
$1,925,913.00
$ 274,194.00
$164,115.00
$196,738.00
$- 635,047.00
$ 601,680.00
$ 523,178.00
$ 3231454.00
$ 33,474.00 .;
$. 118,106.00
$ 111-,056.00
_13,642,00
21,628.00
13,688.00
48,958.00
-57$753.00
22,742.00
20,956.00
20,809.00
64,507.00
57,836.00
$ 88,562.00
$ 75,038.00
$ 67,971.00
$ 231,571.00
$ 226,645.00
$ 185,632.00,
$ 89,077.00
$128,767.00
$ 403,476-.00
$:' 375,035.00
5,490.00
3,370.00
4,145.00
13,005.00
11,857.00
( 153.00)
23.00
116.00
( 14.00)
19.00
344.27
199.37
253.84
797.48
1,240.60
8.03%
$ 191,313.27
$ 92,669.37
$133,281.84
$ 417,264.48
$ 388,151.60
15.23%
15..180/.
14.84%
30,992,00
22,607.00
.51
.49
.49
NET INCOME
I,
$ 44810256.48
I
i
$ 410,758.60
$ 4,589.00
$ 626.00
$ 7,102.00
$ .12,317.00
$ .10,769.00
-83-
Per Cent to Net
Sales
1 9
7 1
Increase
50th
1970
Decrease*
Street
Southdale
Grandview
Total
Total
$ 37,171.00
j
77,122.00
16,964.00
1,690.00*
I
$129,567.00
91.00*
$129,658.00
10 0.000/.
100.001%
100.00%
100.00%
100.00%
$ 7,463.44*
124,870.10
$117,406.66
21,115:66
$ 96,291.00
76.10
75.29
76.74
76.10
76.20
$ 33,367.00
23.90%
24.71%
23.26%
.23.90%
23.80%
$ 7,050.00
4.55%
4.89%
3.95 %.
4.45 %>
4.39%
8,795.00*
!1.19
3.26
1.62
1.84
2.28
6,671.00
1.98
3.15
2.46
2.43
2.29
$ 4,926.00
x7.72%
11.30%
8.03%
8.72%
8.96%
$ 28,441.00
116.18%
13.41%
15.23%
15..180/.
14.84%
1,148.00
.47
.51
.49
.49
.47
33.00*
.O1
443.12*
.03
.03
.03
.03
.05
$ 29;112.88
16.68%
13.95%
15.76%
15.70%
15.36%
8,385.00
I
$ 37,497.88
$ . 1,584.00
-83-
I.
I I
LIQUOR DISPENSARY FUND
OPERATING EXPENSES
VILLAGE OF EDINA
Selling: -
Salaries and wages
Supplies
Licenses and dues
Pro rata promotion
Service contracts
Direct promotion
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
Water and sewer service
Interest on special assessments
Administrative:
Salaries and wages
Supplies
Professional services
Allocated expenses - retirement,
insurance, office supplies, etc.
Miscellaneous
Mileage
Special study and appraisal service
$ 490.00
$ 19.00
$ 71.00
Year Ended
December 31
815.00
214.00
$ 236.00. $
165.00
17,243.00
151.00
17,243.00
1,310.00
1 9
7 1
27,449.00
335.00
1 9
7 0
864.00
336.00
Increase- Decrease*
266.00
50th Street
Southdale
Grandview-
Total':.
50th Street
Southdale
Grandview
Total
50th Street
Southdale
Grandview
Total
$49,486.00
$30,265.00
$31;499.00
$1111250.00
$45,896.00
:$29,632.00
$29,881.00
$105,409.00
i
$3,590.00
$ 633.00
$1,618.00
$ 5,841.00
25,235.00
1,461.00
1,554.00.
5,250.00
11,920.00
1,264.00
1,353.00
4,537.00
315.00
197.00
201.00
713.00
64.00
54.00
54.00
172.00
78.00
18.00
18.00
114.00
14.00*
36.00
36.00
58.00
$ 57,753.00
307.00
$14,621.00
307.00
$ 43,221.00
292.00
$13,608.00
292.00
$ 4110023.00
15.00
256.00
15.00
169.00
143.00
143.00
455.00
732.00
58.00
16.00
74.00
169.00
85.00
127.00
381.00
224.00
224.00
224.00
672.00
210.00
210.00
210.00
630.00
j 14.00
14.00
14.00
42.00
$52,178.00
$329454.00
$331,474:00-
$118,106.00
$48,104.00
$31,474.00
$31,478.00
$111,056.00:
$4,074.00
$ 980.00
$ 1,996.00
$ 7,050.,00
$ 490.00
$ 19.00
$ 71.00
$ 580.00,
$" 236.00
815.00
214.00
$ 236.00. $
165.00
17,243.00
151.00
17,243.00
1,310.00
$16,853.00
$10,596.00
27,449.00
335.00
276.00
253.00
864.00
336.00
276.00
266.00
878.00
451.00
360.00
571.00
1,382.00
237,00
229.00
206.00
672.00.
1,797.00
1,251.00
1,588.00
42636.00
1,632.00
1,175.00
1,524.00
4,331.00
809.00
92.00
523.00
19424.00
658.00
85.00
423.00
1,166.00 j
254.00 $
19.00
803.00
390.00
1.00*
815.00
214.00
131.00
165.00
76.00
151.00
7.00
373.00
430.00
803.00
•; 408.00
407.00
815.00
35.00*
762.00
277.00 405.00
11,444.00
,: 678.00
270.00 362.00
1,310.00
84.00
190.00
96.00
286.00 1
,. 164.00
96.00
260.00 I
26.00
1,787.00
119122.00 1,539.00
410448.00
-- .2,474.00
1,645.00 2,327.00
6,446.00
687.00*
125.00
4,080.00
4,680.00
.125.00
75.00
332.00
312.00
387.00
261.00
100.00
436.00
697.00
265.00
179.00
154.00
598.00
4,589.00
626.00
7,102.00
12,317.00
-:4,927.00
602.00
.5,240.00
10;769.00
480.00
300.00
480.00
12260.00
425.00
430.00
..425.00
1,280.00
900.00
12.00
165.00
1;065.00
:-- .'900.00
35.00
150.00
1,085.00
18.00
12.00
30.00
$226,645.00
$7,179.00
$3,009.00
-
63.00
44.00
17.00
124.00
. 47.00
12.00
12.00
71.00
230.00
230.00
-
$13,642.00
$21,628.00
$13,688.00
$ 48,958.00
$13, 462..00
$21,791`.00
$22,500.00.
$ 57,753.00
$14,298.00
$14,621.00
$14,302.00
$ 43,221.00
$13,404.00
$13,608.00
$14,011.00
$ 4110023.00
282.00
256.00
215.00
753.00
_,. 244.00
244.00
244.00
732.00
1,476.00
1,567.00
1,375.00
4,418.00
.'.1,.033.00
933.00
9.33.00
2,899.00
6,1-80.00
4,080.00
4,680.00
- 14,940.00
406.00
332.00
137.00
875.00
100.00
100.00
100.00
300,00
$22,742.00
$20,956.00
$20,809.00
$ 64,507.00
TOTAL $88,562.00 $75,038.00 $67,971.00, $231,571.00
7.00
523.00*
50.00
4.00* 179.00*
$ 71.00
$ 344.00
10,596.00*
10,206.00*
13.00*
14.00*
365.00
710.00
64.00.
305.00
100.00
258.00
23.00
12.00*
43..00
134.00
55.00
26.00
788.00*
1,998.00*
312..00*
262.00*
282.00
99.00
338.00*
24.00
1,862.00
10548.00
55.00
130.00*
55.00
20.00*
570.00
35.00*
15.00
20.00*
164.00*
18.00
12.00
30.00
16.00
32.00
5.00
53.00
230.00
20.00*
19.00*
230.00
$ 180.00
$ .163.00* $
8,812.00*
$ 8,795.00*
$ 894.00
$1,013.00 $
291.00
$ 2,198.00
38.00
12.00
29.00*
21.00
443.00
634.00
442.00
1,519.00
3,900.00
3,660.00
3,600.00
11,160.00
2,280.00
420.00
1,080.00
.3,780.00
570.00
199.00
98.00
867.00
164.00*
133.00
39.00
8.00
120.00
120.00
119.00
359.00
20.00*
20.00*
19.00*
59.00*
546.00
250.00
796.00
546.00*
250.00*
7. 96.00*
$19,817.00
i
$18,764.00
$19,255.00
$ 57.,836.00
I $2,925.0
$2,192.0 0
$ 1,554.00
$ 6,671.00
$81,383.00
$72,029.00
$73,233..00.
$226,645.00
$7,179.00
$3,009.00
$ 5,262.00*
$ 4,926.00
-84-
LIQUOR DISPENSARY FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1971
Balance at January 1, 1971
Additions:
Gross sales
Cash discounts
Interest received on investments
Payment received on accrual at
December 31, 1970
Investments sold
Other revenue
Deductions:
Merchandise purchased
Bottle refunds
Operating expenses
Less provision for depreciation not
requiring cash
Transfers:
General Fund
Park Fund
Park Construction Fund
Fixed assets purchased
Increase in prepaid insurance
Decrease in liabilities:
Balance at January 1, 1971:
Trade accounts
Accrued payroll
Balance at December 31, 1971:
Trade accounts $56,517.49
Accrued payroll 5,005.65
$ 78,944.18
$2,666,102.00
13,005.00
12,309.00
18,775.00
10,000.00
783.88 2,720,974.88
$2,,799,919.06
$2,0434319.66
8,851.00
$231,571.00
12,317.00 219,254.00
$ 78,223.00
116,777.00
80,000.00 275,000.00
107,564.70
544:67
$ 66,876 -.96
5,174.29
$ 72,051.25
61,523.14 10,528.11 2,665,062.14
Balance at December 31,,1971 $ 134,856.92
-85-
LIQUOR DISPENSARY FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December 31, 1971
ASSETS
Land
Land improvements
Buildings
Furniture, fixtures and equipment
Leasehold improvements
ALLOWANCES FOR DEPRECIATION
AND AMORTIZATION
Land improvements
Buildings
Furniture, fixtures and equipment
Leasehold improvements
NET BALANCE
Balance
January 1,
$ 46,500.00
3,412.66
165,331.92
46,647.74
31,208.29
$293,100.61
$ 1,982.55
61,970.88
32 ;639.52
26,840.64
$123,433.59
$169,667.02
.Additions
$102,188.50
5;376.20
$107,564.70
.Balance
December 31,
1971
$148,688.50
8,788.86
165,331.92
46,647.74
31,208.29
$40031665.31
$ 247.45 $ 2,230.00
7,500.73 69,471.61
23781.52 35,421.04
1,787.44 28,628.08
$ 12,317.14 $135,750.73
$ 951247.56 $264,914.58
9
0
Fund:
General:
Current
Auto license account
Poor:
Current
Park:
Current
Swimming.Pool:
Current
Golf Course:
Current
Recreation Center:
Current
Park Sinking:
For bonds and interest
Park Construction:
For construction
Gun Range:
Current
Improvement:
Current
For bond interest
For construction
Waterworks:
Current
Appropriated
Sewer Rental:
Current
Liquor Dispensary:
Current
Depository:
Demand deposits:
First Edina.National Bank
First Southdale National Bank
Time deposits:
First Edina National Bank
First Southdale National Bank
Americana State Bank
Southwest Fidelity Bank
Working funds
CASH - ALL FUNDS
VILLAGE OF EDINA
December 31, 1971
( ) Indicates deficit.in:cash balance.
Demand and
Time
Deposits
$1,005,561.10
135,416.21
$1,140,977.31
28,113.00
( 22,745.27)
( 9,525.70)
101,591.04
56,564.61
117,347.26
( .200,726.92)
( 6,416.52)
$ 608,318.85
45,870.66
( 453,628.47)
$ 200,561.04
$ 311,282.02
10,018.75
$ 321,300.77
( '.284,293.49)
134,856.92
TOTAL $1,577,604.05
Working
Funds Total
$ 550.00 $1,006,111.10
600.00 136,016.21
$1,150.00 $1,142,127.31
;28,113.00
( 22,745.27)
( 9,525.70)
52.00 101,643.04
1,000.00 57,564.61 .
117,347.26
( 200,726.92)
( 6,416.52)
200,561.04
321,300.77
( 284,293.49)
3,000.00 137,856.92
$5,202.00 $1,582,806.05
$ 215,358.34
37.245.71
$ 252,604.05
300,000.00
100,000.00
100,000.00
$1,325,000.00
5.202.00
$1,582,806.05
-87-
SECURITY FOR'DEPOSITS
VILLAGE OF 'EDINA
December 31,.1971
First Edina,National Bank - demand deposit
do certificates of.deposit
TOTAL
Southwest Fidelity State Bank - certificate of deposit
TOTAL
First Southdale National Bank - demand .deposit
do certificate of deposit
Americana State Bank -.certificate of deposit..
Deposits
Book Bank
$ 215,358.34
825,000.00
.$1,040,358.34
$ 100,000.00
$ 100,000.00
$ 37,245.71
300,000.00
TOTAL $ 337,245.71
$ 100,000.00
TOTAL $ 100,000.00
$ 303,974.91
825,000.00
$1,128,974.91
$ 100,000.00
$ 100,000.00
$ 57,104.53
300,000:00
$ 357,104.53
;$ 100,000.00
$ 100,000.00
j'.
I
I
Securitv for.Denosits
Principal
Amount
Description
i.Due Date
I.
$1,000,000.00
'United,S'tates Treasury,Note - Series B
November
15,:1978
1,000,.000.00
Depository Bond,.St. Paul Fire: and Marine
Insurance Company
January
4,.1972
I 20,000.00
Federal Deposit Insurance
$2,020,000.00
i
.
$ 100,000.00
Federal Internal Credit Bank Bond
January
2,
1974
20,000.00
Federal Deposit Insurance
$ 120,000.00
$ 250;000.00
United States Treasury Note
February
15,
1975
100,000.00
United States Treasury Note - 'Series A
February
15,
1975
20,000.00
St. Louis Park,.Minnesota I.S.D. #283
April
1,
1972
20,000.00
White-Bear-Lake,-Minnesota I.S.D. #624
April
1,
1975
20,000.00
Eugene,.Oregon Bancroft Improvement
June
1,
1975
k 20,000.00
Willmar, Minnesota Refunding
August
1,
1975
20,000.00
St. Louis Park,.Minnesota Refunding
December
1,'1975
20,000.00
Washington. Motor Vehicle Fuel Tax Revenue
September
1, °19.76
20,000.00
Village of Edina:Recreation Center Bonds
September
1,
1977
20,000.00
Village of Edina:Recreation Center Bonds
September
1,
1980
20,000.00
State of Hawaii
October
15,
1977
20,000.00
Winona,.Minnesota Special S.D., #5
July
1,
1978
'20,000.00
State of California Bonds
September
1,.1978
20, 000.00
Bloomington,, Minnesota I.S.D. #271 School Building
February
1,.1979
20,000.00
Columbia Heights,.Minnesota I.S.D. #13
February
1,.1980
10,000.00
Blue Island, Illinois Comm. H.S.D. #624
December
1,.1973
10,000.00
Jt. Ind. Cons. Sch. Dist. #39 Ramsey County #103
Washington County,.Minn. School Building.Bonds
February
.1,,1983
5,000.00
Brainerd, Minnesota Imp. ;
February
.1,
1972
5,000.00
Edina,.Minnesota.Park:System or 1957
March
1,
1972
5,000.00
Dawson, . Minnesota I.S.D. #373 School Building
August
1,.1972
-5, 000.00
Burnsville,.Minnesota I.S.D. #191
November
1,
1972
20,000.00
Federal Deposit Insurance j
$ 670,000.00
$ 45,000.00
United States Treasury Note Series ,E
August
15,.1972
: 100,000.00
United States Treasury Note Series E
August
15,.1972
. 20,000.00
Federal Deposit Insurance
j
$ 165,000.00
I
-88-
INVESTMENTS
VILLAGE OF EDINA
December 31, 1971
Description Maturity
United States Treasury Notes February 15, 1975
United States Treasury Bills
do
Federal Intermediate Credit
Bank Debentures
do
Federal Home Loan Bank Notes
Federal National Mortgage
Association Secondary
Market Debentures
Federal Land Bank Bonds
do
Village of Edina,.Minnesota:
1971 Municipal State -Ai& Bonds
1970'Municipal State-Aid Bonds
.1955 Improvement Bonds
1957 Improvement Bonds
1966 Improvement Bonds
1968 Improvement Bonds
1953 Sanitary Sewer Bonds
1958 Waterworks Revenue Bonds
1963 Golf Course Bonds
FUND OWNERSHIP -
Improvement Funds
Golf Course
Park Sinking
Waterworks
Liquor Dispensary
July 31, 1972
July 31, 1972
April 3, 1972
June 1,_1972
February 25, 1980
September 10, 1973
October 23, 1972
July 20, 1976
Interest Rate Face Amount
5.75%
4.34
4.20
5.85
5.55
7.75
8.10
6.5
5.375
June
1,.1975
- 1976
5.00
June
1,.1973
- 1974
6.00
March
1,
1977
2.90
March
1,074
— 1979
3.90
November
1,
1972
3.90
December
1,.1978
4.00
January
1,.1973
3.10
September
1,.1974
3.50
December
1,
1983
--1987
3.40=t6 3.50
General Fund - land and miscellaneous investments
TOTAL SECURITIES
Face Amount
December 31,
1971
$3,841,000.00
10,000.00
.25,000.00
125,000.00
67,000.00
$4,068,000.00
TOTAL INVESTMENTS
$ 200,000.00
$ 500,000.00
500,000.00
$1,000,000.00
$ 700,000.00
50,000.00
$ 750,000.00
75,000.00
250,000.00
$ 625,000.00
200,000.00
$ 825,000.00
$ 400,000.00
450,000.00
25,000.00
31,000.00
:10,000.00
15,000.00
10,000.00
17,000.00
10.000.00
$ 968,000.00
$4,068,000,00
Carrying Amount
December 31,
1971
$3,815,729.99
8,124.91
25,000.00
126,229.62
68,089.44
$4,043,173.96
74,309.20
$4,117,483.16
-89-
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
Tax rate by mills:
General
Parks
Bonds and interest
Poor and public nursing
Firemen's relief
Fire protection
TAXABLE VALUATIONS, TAX LEVIES AND RATES
VILLAGE OF EDINA
December 31
1971 1970
$80,486,054.00 $77,145,878.00
3.827.251.00 2,561.070.00
TOTAL $84,313,305.00 $79,706,948.00
TOTAL
TOTAL
1971
1972
$ 15488,972.,97
171,156.01
71,666.31
17,705.79
5,058.80
14.333:26
.$- 1,768,893.14
17.66
2.03
.85
.21
.06
.17
20.98
1970
1971
$•1,592,544.82
157,022.69
63,765.56
15,941.39
7,970.69
13.550.18
$ 1,850,795.33
19.98
1.97
.80
.20
.10
.17
;23.22
-90-
OFFICIAL BONDS
VILLAGE OF EDINA
December 31, 1971
Position Name
On.file with Village Clerk:
Blanket position Police department employees
Blanket position All Village employees other than the Treasurer
and police department employees
Treasurer J. N. Dalen
Clerk Florence B.-Hallberg
Deputy Assessor Ronald A. Blagen
Deputy Assessor Ralph E. Johnson
Assessor Kent Swanson
Bond Expires
f
Amount
Surety
$ 5,000.00
American
Casualty
Company
$50,000..00
American
Casualty
Company
February
28,
1973
$50,000.00"
American
Casualty
Company
February
28,
1973
$ 500.00
American
Casualty:Company
February
28,_1973
$ 50MO
American
Casualty
Company
February
28,
1973
$ 500._00
American
Casualty
Company
February
28,
"1973
$ 500..0,0
American
Casualty
Company,
-91-
INSURANCE COVERAGE
VILLAGE OF EDINA
December 31, 1971
-92-
Fire
and
Extended
Coverage
Building
Contents
Other
Building and contents (A):
Village Hall
$588,500
$ 80,000
Morningside municipal buildings
32,900
4,000
Village garage
481,500
35,000
Municipal liquor store -.50th Street
722000
20,000
Municipal liquor store - Southdale
20,000
Municipal liquor store - Grandview
67,000
27,000
Municipal golf course club house
1712200
16,000
Municipal recreation center
481,500
112,500
Municipal recreation center - East addition
163,700
72,000
Municipal swimming pool
214,000
Water reservoir
412,000
Parking ramp
337,000
Pumping stations (location):
Wooddal6.,
61,500
55,000
Halifax
16,000
12,100
Southview Lane
11,700
13,200
Southdale
15,500
13,200
Concord
51,800
77,000
Brookview Heights
16,000
13,200
Hansen Road
15,500
17,600
76th _Street
69,600
105,000
2nd Street
70,600
103,000
6500 Dewey Hill Road
44,700
132000
Sherwood
12,900
13,200
Mirror Lakes
47,000
14,000
Creek Valley
48,200
33,000
Water tower - Concord Street
149,800
Water tower - 69th Street
246,100
Sanitary sewer lift station
52,400
30,000..
Bathhouse
75,000
11,000
Maintenance building - golf course
8,000
3,000
Range building - golf course
2,700
5,000
Storage building
4,300
Dwelling - Olinger Road
122800
Dwelling - West 70th Street
56,200
7,500
Grange building
4,300
Cahill. School building
4,300
Gun range
40,000
5,000
Office and storage - 5120 Brookside
173,300
Dwelling - 5120 Brookside
38,500
Inventories (D) :
Liquor store - Southdale
$ .130,000
Liquor store - 50th Street
120,000
Liquor store - Grandview
160,000
-92-
Automotive:
Bodily injury
Property damage
Comprehensive
Village liquor stores:
Boiler - 50th Street
Boiler - Grandview
Business interruption
Business interruption
Business interruption
Burglary, robbery and
Burglary, robbery and
Burglary, robbery and
INSURANCE COVERAGE (Cont'd)
- 50th Street
- Southdale
- Grandview
theft - within premises
theft — outside premises
theft - merchandise (C)
Village golf course:
Burglary, robbery and theft - within premises
Burglary, robbery and theft - outside premises
Boiler
Recreation center:
Business interruption
Business interruption
Burglary, robbery and
Burglary, robbery and
Burglary, robbery and
Boiler
- main building
— east addition
theft - within premises
theft - outside premises
theft - merchandise (C)
Other insurance:
General liability:
Automotive non - ownership, independent
contractor, and Village premises -- operations:
Bodily injury
Property damage
Umb "rella:.policy
Workmen's compensation.
Property floater all risk -- voting machines:. '
Property _ f.loater - :equipment other than automotive
Boiler..
Earthquake coverage --swimming pool and water
reservoir (A)
Other locations•
Fire and
Extended Coverage
Building Contents Other
$250 /$ 500,000.
100,000
$100 deductible
50,000
50,000
115,000
90,000
75,000
5, 000 (B)
5,000(B)
7, 500 (B)
5,000
5,000
50,000
120,000
50,000
2,500
2,500
2,500
50,000
$250 / 500,000
100,000
2,000,000
Statutory
102,000
Actual cash value
50,000(E)
526,500
(F)
Note A - 90% coinsurance.
Note B - 50th Street, Southdale and Grandview.
Note C - 40% coinsurance.
Note D - Reporting form.
Note E - Administration building, municipal building, street department and library.
Note F - Fire and extended coverage, $10,000 other locations and $10,000 in transit.
-93-
ORGANIZATION
VILLAGE OF EDINA
December 31, 1971
Village Council:
Mayor :.
Arthur C. Bredesen, Jr.
Trustees:
James Van Valkenburg
Richard C. Johnson
C. Wayne Courtney
Willis F. Shaw
Village Manager:
Warren C. Hyde
Village Attorney:
Thomas S. Erickson
Clerk:
Florence Hallberg
Treasurer and Finance Director:
J. N. Dalen
Assessor:
Kent Swanson
Prosecuting Attorney:
Walter Gustafson
Director of Public Works and Engineering:
Robert C. Dunn
a
Term
Expires
December 31
1971
1972
1971
1972
1973
Elected,
Re- elected or
Re- appointed to
December 31
1973
1974
Appointed by Council
Appointed by Council
-94-