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Home My WebLink About1972 Financial Statements01 AUDITED FINANCIAL STATEMENTS AND OTHER FINANCIAL INFORMATION VILLAGE OF EDINA, MINNESOTA DECEMBER 31, 1972 trl -7� a ERNST & ERNST .•1.• AUDITED FINANCIAL STATEMENTS AND OTHER FINANCIAL INFORMATION VILLAGE OF EDINA, MINNESOTA December 31, 1972 ..1.. INDEX ACCOUNTANTS' REPORT ON AUDITED FINANCIAL STATEMENTS......... PAGE 5 COMMENTS AND ACCOUNTANTS' REPORT ON OTHER FINANCIAL INFORMATION ................. ............................... 6 FUND BALANCE SHEETS .......... ............................... 10 STATEMENT OF ACCOUNTING POLICIES ............................ 12 GENERAL FUND: BALANCE SHEET. .......... ............................... 14 STATEMENT OF SURPLUS ....... ............................... 15 ANALYSIS OF CHANGE IN CASH BALANCE ........................ 16 REVENUES . ............................ 17 EXPENDITURES .............. ............................... 18 CENTRAL SERVICES EXPENDITURES. ......................... 22 FIXED ASSETS ............... ............................... 23 BONDS PAYABLE ........ ............................... .... 24 REVENUE SHARING FUND: BALANCE SHEET........ ................... o ......... 25 STATEMENT OF SURPLUS — UNAPPROPRIATED ..................... 26 ANALYSIS OF CHANGE IN CASH BALANCE............. .. 27 POOR FUND: BALANCE SHEET. .............. ............................... 28 STATEMENT OF SURPLUS — UNAPPROPRIATED ..................... 29 STATEMENT OF REVENUES AND EXPENDITURES .................... 29 ANALYSIS OF CHANGE IN CASH BALANCE ........................ 30 PARK FUND: BALANCE SHEET .............. ............................... 31 STATEMENT OF SURPLUS ............... 32 ANALYSIS OF CHANGE IN CASH BALANCE... ..................... 33 REVENUES AND EXPENDITURES....... ......................... 34 FIXED ASSETS ....................................... ........ 35 SWIMMING POOL FUND: BALANCE SHEET .............. ............................... 36 STATEMENT OF SURPLUS............ 37 ANALYSIS OF CHANGE IN CASH BALANCE ........................ 38 STATEMENT OF INCOME AND EXPENSE ......... .................. 39 STATEMENT OF INCOME AND EXPENSE (CONCESSIONS ONLY) ........ 40 FIXED ASSETS ............... ............................... 41 GOLF COURSE FUND: BALANCE SHEET ................................................ '42 STATEMENT OF SURPLUS ...... .:............................. 43 ANALYSIS OF CHANGE IN CASH BALANCE ........................ 44 STATEMENT OF:INCOME AND EXPENSE ........................... 45 STATEMENT OF INCOME AND EXPENSE — OPERATING DEPARTMENTS... 47 FIXED ASSETS ............... ............................... 48 BONDS PAYABLE ................. .......................... 49 •ol-o INDEX (Cont'd) RECREATION CENTER FUND: BALANCE SHEET .............. ............................... PAGE 50 STATEMENT OF SURPLUS ....... ............................... 51 ANALYSIS OF CHANGE IN CASH BALANCE ........................ 52 STATEMENT OF INCOME AND EXPENSE ........................... 53 FIXEDASSETS ............... ............................... 54 BONDS PAYABLE .............. ............................... 55 GUN RANGE FUND: BALANCE SHEET .............. ............................... 56 STATEMENT OF SURPLUS ..... ............................... 57 STATEMENT OF INCOME AND EXPENSE ........................... 5g ANALYSIS OF CHANGE IN CASH BALANCE ........................ 59 FIXED ASSETS ............... ............................... 60 PARK SINKING FUND: BALANCE SHEET .............. ............................... 61 STATEMENT OF SURPLUS ....... ............................... .62 ANALYSIS OF CHANGE IN CASH BALANCE ........................ 63 BOND AND INTEREST MATURITIES AND DEFERRED TAX LEVIES...... 64 PARK CONSTRUCTION FUND: BALANCE SHEET .............. ............................... 65 ANALYSIS OF RESERVE FOR CONSTRUCTION ...................... 66 ANALYSIS OF CHANGE IN CASH BALANCE ........................ 67 FIXED ASSETS .............................................. 68 IMPROVEMENT FUNDS: COMBINED BALANCE SHEET ..................................... 69 STATEMENT OF SURPLUS - UNAPPROPRIATED....: ................ .70 ANALYSIS OF CHANGE IN CASH BALANCE ........................ .71 BONDS PAYABLE ............... ...........:................... 73 WATERWORKS FUND: BALANCE SHEET .............. ............................... 74 NOTES TO BALANCE SHEET .................................... 75 STATEMENT OF SURPLUS ....................................... 76 STATEMENT OF INCOME AND EXPENSE ........:.................. 77 ANALYSIS OF CHANGE IN CASH BALANCE ........................ 79 FIXED ASSETS ............... ............................... 80 SEWER RENTAL FUND: BALANCE SHEET ............... ............................... 81 STATEMENT OF SURPLUS.. ............................... 82 STATEMENT OF INCOME AND EXPENSE ........................... 83 ANALYSIS OF CHANGE IN CASH BALANCE ........................ 84 FIXED ASSETS ............... ............. .I................. 85 •.loo INDEX (Cont'd) LIQUOR DISPENSARY FUND: BALANCE SHEET .............. ............................... PAGE 86 STATEMENT OF SURPLUS ....... ............................... 88 STATEMENT OF INCOME AND EXPENSE ........................... 89 OPERATING EXPENSES......... .90 ANALYSIS OF CHANGE IN CASH BALANCE ........................ 91 FIXED ASSETS ............... ............................... 92 GENERAL: CASH - ALL, FUNDS ........... ............................... 93 SECURITY FOR DEPOSITS ...... ............................... 94 INVESTMENTS.. ............ ............................... 95 TAXABLE VALUATIONS, TAX LEVIES AND RATES.................. 96 OFFICIAL BONDS ............. ............................... 97 INSURANCE COVERAGE ......... ............................... 98 ORGANIZATION ............................ ............... 101 Dole. 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, 1972 and the related statements of revenues and expenditures or income and expense and surplus for the year then ended. Our examinations were 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, 1972 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, except for the change (which we approve) in .recognizing sewer mains as assets as.explained in a note to the Sewer Rental Fund statement of surplus. Minneapolis, Minnesota May 29, 1973 -5- 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 and our report thereon are presented in appropriate sections of this report. Financial information not specifically referred to above and financial information contained in the following.comments, 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 examina- tion 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 operations and changes in fund balances of the Village. The information shown in the schedules of security for deposits, taxable,valua- tions, 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, 1972 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, 1972 were counted by us. Cash receipts and cash disbursements procedures were reviewed and tested by us for a selected period during the year to determine that proper procedures were being followed to control recording of receipts and that proper authorization was pro- vided 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. -6- Amounts receivable from water and sewer rental charges at December 31, 1972 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. 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 the 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.fromfixed assets 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. Provision for depreciation is computed by the straight line method. As a result of the policy of rounding amounts in the operating accounts to whole dollars, depreciation expense on the fixed asset schedules may not agree with - depreciation expense on the statements of revenues and expenditures and analysis of change in cash balance by pennies. Recreational facilities, except for equipment, of the Swimming Pool Fund, Golf Course Fund, Recreation Center Fund and Gun Range Fund are not depreciated. We tested accounts payable by direct correspondence and by reference to disburse- ments subsequent to December 31, 1972. For all canceled bonds redeemed and paid during 1972, we inspected canceled bonds or examined proof of payment to the bond paying agent. We inspected interest coupons redeemed and paid during 1972 on a test basis. Official minutes of the Village Council for 1972 were read by us. Copies of licenses and permits issued during the year were compared to recorded collections on a test basis. COMMENTS ON FINANCIAL STATEMENTS REVENUE SHARING FUND This fund was established in-1972 to account for all payments from the Federal Government and their use under Subtitle A.of the State and Local Fiscal Assistance Act of 1972 (Revenue Sharing Act). SWIMMING POOL FUND The net income of $3,105.66 is after the provision of $399.75 for depreciation, computed by the straight line method, on swimming.pool equipment. -7- 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. The net income of $18,049.90 is after the provision of $22,050.00 for interest on bonded debt issued for the golf course facilities, and the provision of $9,152.48 for depreciation on golf course equipment. $35,000.00 of the bonded debt matured and was redeemed in 1972. Sur- plus invested in.fixed assets of $65,545.14 was set up as of January.l, 1972 (transferred -from unappropriated surplus). RECREATION CENTER FUND Net revenues of the Liquor Dispensary Fund are pledged to secure payment of the bond obligations of the Recreation Center Fund. The net income of $18,891.57 is after the provision of $16,003.00 for interest on bonded debt issued for the recrea- tional center facilities and the provision of $4,354.97 for depreciation on recrea- tional center equipment. $25,000.00 of bonded debt matured and was redeemed in 1972. GUN RANGE FUND The net loss of $2,685.04 is after the provision of $58.60 for depreciation on gun range equipment. PARK SINKING FUND Bonded debt of $50,000.00 matured and was redeemed in 1972. PARK CONSTRUCTION FUND Fixed assets amounting to $155,312.92 were purchased during the year and projects completed at a cost of $5,896.29 and $4,091.43 were transferred to the Gun Range Fund and Recreation Center Fund, respectively. Funds were made available.from $80,000.00 in transfers from.the Liquor Dispensary Fund and.from a $58,832.68 Federal grant from the Department.of Housing and Urban Development. IMPROVEMENT FUNDS Funds in the amount of $1,400,000.00 were derived from the sale of Temporary Improvement Bonds in 1972. The proceeds were used to finance current construction. The bonds will be redeemed and interest paid with.funds from Special Assessments. The bonds bear interest at the rate of 3.5% and.mature on December 15, 1975. WATERWORKS FUND The net loss of $24,391.07 is after the provision of $15,207.00 for interest on bonded debt issued.for the waterworks facilities and the provision of $221,869.00 for depreciation on the facilities. $55,000.00 of the bonded debt matured and was.redeemed in 1972. SEWER RENTAL FUND 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 reduc- tions in the Village's annual charge for sewer treatment over the next 30 years. In .1972 the Village capitalized, with a contra - credit to surplus contributed by special assessment, $8,786,896.37 in sewer mains and lift stations constructed during the years 1939 through 1971. These sewer mains and lift stations are included in 1972 additions to fixed assets. Depreciation of $1,079,284.86 for the years 1939 through 1971 for these sewer main additions is included in additions to the allowance for depreciation,but is not included in depreciation expense for 1972. N SEWER RENTAL FUND (Cont'.d) The net income of the Sewer Rental Fund for 1972 was $29,548.31 after a provision for depreciation of $94,291.00. In 1971 the net loss was $102,590.22 after a provision for depreciation of $4,041.00. If the sewer mains and lift stations constructed between.1939 and 1971 had been capitalized in.1971, the net loss for 1971 would have been $190,265.22 after a provision for depreciation of $91,716.00. LIQUOR DISPENSARY FUND Net income of $440,046.01 for the year is after the provision of $11,000.00 of depreciation 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. 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 by M. S. A. Section.412.281. Minneapolis., Minnesota May 29, 1973 not prepared and published or posted as required N Revenue Total General Sharing ASSETS Cash: Current funds (deficit) $ 1,454,053.35 $ 864,330.91 $ .1,680.67 Appropriated 9,712.50 T1,463,765.85 $ 864,330.91 $ 1,680.67 Investments: United States Treasury notes and United States Government Agency securities - at face value or cost $ 3,583,954.04 $ 79,637.33 Village of Edina bonds - at face value or cost 2,154,665.46 $ 7503,000.00 Land investment - at cost 35,508.70 .35,508.70 Other 995.50 995.50 $ 5,775,123.70 $ 786,504.20 $ 79,637.33 Amount segregated and shown below 68,840.00 $ 5,7069283.70 $ .786,504.20 $ 79,637.33 Receivables: Taxes and special assessments: Current $..1,591,967.62 $ 2,242.84 Delinquent 525,351.67 48,577.25 Deferred 7,000,826.19 3,751.31 Customers 298,510.29 87,699.19 Due from other funds 749,179.85 78,772.43 Due from State Aid Account - State of Minnesota 625,000.00 Miscellaneous receivables 108 122.19 102898,957.81 221,043.02 $ 78 033.00 78,033.00 Less allowance for delinquent and uncollectible taxes 954,660.38 48,577.25 $ 9,944,297.43 T7172,465.77 $ 78,033.00 Inventories 526,123.58 1031000.00 Prepaid expenses 6,342.89 Segregated investments for reserve for debt retirement 68,840.00 Construction in progress .19688,756.21 Fixed assets 22,917,522.70 2,9713046.37 Unallocated construction costs 170,558.41 $42,492,490.77 $4,80431347.25 $159,351.00 Sewer Rental Liquor Dispensary ($ 238,883.90) $ 24,520.49 ($ 238,883.90) $ 24,520.49 $ 50,.924.58 17,185.84 $ - $ 683110.42 $ - $ 683110.42 $ 625.45 105,821.46 2,564.40 $ 433,775.00 2,089.19 $ 1093011.31 $ 435,864.19 $ 109,011.31 $ 435,864.19 497,766.92 63.00 2,591.32 71799,044.24 528,325.11 $7,669,234.65 $1,557,178.45 -10- FUND BALANCE SHEETS I VILLAGE OF EDINA I December 31, 1972, h Swimming Recreation Park Park I Poor Park Pool Golf Course Center Sinking Construction Gun Range Improvement. !Waterworks $ 3052.47 $ 152603:08 ($ 6,508.31) $ 53,166.86 $ 4,849.68 $100,125.85 ($ 111,110.01) ($11,894.19) $ 509,776.63 $ 245,043.12 :I 9,712.50 $ 3,352.47 $ :15,603.08 ($ 6,508.31) $ 53,166.86 $ 4,849 -.68 $100,125.85 ($ .111,110.01) ($11,894.19) $ 509,776.63 $ 254,755.62 $19,909.33 $ 14,932.00 $14,932.00 $ 39,932.00 I $ 3,111,100.40 $ i 252,586.40 12,728.95 I 12356,000.00 i I 18,750.67 $19,909.33 $ - $ - $ 27,660,95 $ 14,932,00 $ 39,932.00 l $ _ $ - $ 4,467,100.40 $ 2719337.07 I 68,840.00 $19,9.09.33 $ - $ - $ 27,660.95 $.14,932.00 $ 39,932.00 $ _ $ - $ 4,467,100.40 $ 202,497.07 $ 729000.00 $ 1,517,099.33 $ 129092.81 3,229.11 461,452.50 403,000.00 i 695949074.88 $ 109806.34 $ 94,183.30 17,363.00 $ 8.00 12,000..00 $ 9,987.72 $ 495.00 1802052.42 14,161.88 625,000.00 299455.81 - 8.00 2 ,806.34 22 478,9 .11 $ 28,000.00 37,987.72 $ .495.00 $ 9,377,679.13 $ .108,345.18 12,092.81 26,979.11 8679011.21 $ - $ 179363.00 $ - $ 8.00 $ 22,806.34 $451,250.00 $ .37, 987.72 $ 495.00 $ 8,5109667.92 $ 108,345.18 600.00 19923.29 250.00 152583.37 251.00 350.27 1,013.30 432.00 1,642.00 68,840.00 1,6889756.21 1,7209933.39 214,215.42 986,327.42 867,930.94 1,323,831.22 51,694.00 62454,174.59 4 170,558.41 23 261..80 $ , $1 754 , 499.47 , 207 958.11 $ , $120679513.50 $913,455.55 $591$07.85 I j i $12250,708.93 $40,976.81 $159346,859.57 $7,105,837.83 Sewer Rental Liquor Dispensary ($ 238,883.90) $ 24,520.49 ($ 238,883.90) $ 24,520.49 $ 50,.924.58 17,185.84 $ - $ 683110.42 $ - $ 683110.42 $ 625.45 105,821.46 2,564.40 $ 433,775.00 2,089.19 $ 1093011.31 $ 435,864.19 $ 109,011.31 $ 435,864.19 497,766.92 63.00 2,591.32 71799,044.24 528,325.11 $7,669,234.65 $1,557,178.45 -10- Revenue Total General Sharing LIABILITIES, RESERVES AND SURPLUS Due to other funds $ 749,179.85 $ 66,408.50 Accounts payable 404,103.21 207,782.49 Salaries and wages 36,005.89 13,305.84 Due to Hennepin County 7,970.40 Interest payable 63,407.85 97.50 Deferred income 9,474.00 Construction and other deposits 124,484.15 60,245.29 Edina Firemen's Relief Association 50,715.51 50,715.51 Construction contract .162,646.29 Unexpended contributions 29,441.59 Reserve for future bond interest 61,515.00 Bonds payable 13,755,000.00 15,000.00 Reserve for assessment adjustments 136,913.37 Reserve for construction (deficit) ( 48,991.89) Surplus: Invested in fixed assets 20,903,431.27 2,971,046.37 Appropriated: For imprest cash 550.00 550.00 For debt service 167,352.50 For commitments 998,737.00 998,737.00 Unappropriated (deficit) 4,880,554.78 420,458.75 $159,351.00 $42,492,490.77 $4,804,347.25 $159,351.00 -11- FUND BALANCE SHEETS (Cont'd) I Swimming Recreation Park Park i Liquor Poor Park Pool Golf Course Center Sinking Construction Gun Range Improvement Waterworks Sewer Rental Dispensary $ 14,042.30 $ 876.00 $ 253,575.00 $284,291.43 $ :16,487.00 $ 5,896.29 $ 107,603.33 $ 590.46 8,144.25 195.00 1$01.51 .10,809.52 237.35 2,223.66 $ 23,348.22 $ 3,148.68 $ 146,322.07 9,363.85 357.21 2,548.72 64.85 2,273.14 1,441.84 6,650.44 I 7,970.40 5,405.01 16,040.00 39,749.51 2,115.83 9,474.00 64,238.86 162,646.29 29,441.59 61,515.00 6303,000.00 445,000.00 440,000.00 11,805,000:00 420,000.00 136,913.37 ( 89,609.29) 40,617.40 1,7203933.39 214,215.42 111,327.42 148,839.51 1,323,831.22 51,694.00 6,034.,174.59 7,799,044.24 528$25.11 520300.00 36$00.00 78,552.50 .22,671.34 ( 27,425.91) ( 7,328.31) 18,652.36 ( 29,412.64) 73,752.85 ( 16,915.68) 29979,896.75 545$73.55 ( 134,400.11) 875,880.83 $23,261.80 $1,754,499.47 $207,958.11 $1,067,513.50 $913,455.55 $591,307.85 $14250,708.93 $40,976.81 $15,346,859.57 ,$7,105,837.83 $7,669,234.65 $1,557,178.45 -11- STATEMENT OF ACCOUNTING POLICIES VILLAGE OF EDINA BASIS OF ACCOUNTING The activities of the Village are accounted for in various funds as outlined below. The modified accrual.basis of accounting is used, except for the Swimming Pool, Golf Course, Recreation Center, Gun Range, Waterworks,,Sewer Rental and Liquor Dispensary funds which use the full accrual.basis of accounting. Under the modified accrual basis no depreciation expense is recognized. The Village recognizes as an asset deferred taxes levied to pay bonded debt and as a liability future interest payable on bonded debt. In these instances cash to be used is received and disbursed in future years: Inventories shown in the various funds are carried at the lower of cost, first -in, first - out method, or market. Fixed assets are carried on the basis of cost. In the enter - prise funds the cost of fixed assets is amortized over their useful lives. GENERAL FUND The General Fund is used to account for all financial transactions not properly accounted for in another fund. The Village uses this fund to account for expenditures relative to general government; administration, engineering and public works and protection of per- sons and property. These activities are financed principally by property taxes and other tax revenues shared by the State of Minnesota. REVENUE SHARING FUND This fund is used to account for the receipt and disbursement of federal revenue sharing monies. POOR AND PARK FUNDS The activities of these funds are financed principally by special tax levies. The Poor Fund is used to account for the welfare responsibilities of the Village. The Park Fund is used to account for the administration and maintenance of the Village parks. ENTERPRISE FUNDS Each of these fund accounts for activities which are intended to be self- supporting-. Costs of operation are primarily recovered from the users of the services or products provided. These activities include the strimming pool, 'golf course, recreation center, gun range, waterworks, sewer rental and the liquor dispensary. PARK SINKING AND PARK CONSTRUCTION FUNDS The Park Construction Fund is used to account for the monies which are dedicated for construction of park facilities. The Park Sinking Fund is used to account for monies which will be used to pay bonds which.have been sold to finance park construction. -12- STATEMENT OF ACCOUNTING POLICIES (Cont'd) IMPROVEMENT FUNDS Construction costs incurred by the Village, other than for park purposes, are accounted for in a construction fund which is a part of the Improvement Funds. The Construction Fund receives ,the proceeds from sale of permanent and temporary bonds sold for con- struction or improvement purposes. The Improvements Funds . aze -.used to account for the monies which will be used to redeem these bonds. Principally the monies are obtained from levies of special assessments on properties benefited from-the construction or improvement. To facilitate tabulation of these special assessments, interest from date of final assessment hearing to December 31 is included as part of project costs. Assessable costs also include a percentage charge in an amount sufficient to reimburse the Village for actual costs of engineering and clerical services properly assignable 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. 13 GENERAL FUND BALANCE SHEET VILLAGE OF EDINA -December 31, 1972 ASSETS Cash: Demand deposits Time deposits Automobile license fund Working funds Investments - at cost: Land investments Donated securities Village of Edina Improvement Bonds of 1972 Receivables: Accounts receivable Special assessments - current Special assessments - deferred Due from other funds St}pply inventory - estimated Taxes receivable - delinquent Less allowance for delinquent taxes Fixed assets $ 117,749.72 525,000.00 $ 642,749.72 221,031.19 550.00 $ .864,330.91 $ 35,508.70 995.50 750,000.00 $ 87,699.19 $ 2,242.84 3,751.31 5,994.15 78,772.43 $ 48,577.25 48,577.25 LIABILITIES AND SURPLUS Due to other funds Accounts payable: Trade accounts Due to State of Minnesota — automobile licenses Accrued payroll Edina Firemen's Relief Association Sundry deposits Bonds payable Accrued interest payable Surplus: Invested in fixed assets: Direct Annexed from Morningside Contributed Appropriated: Reserve for commitments For imprest cash Unappropriated $ 53,465.84 154,316.65 13,305.84 50,715.51 60,245.29 $ 15,000.00 97.50 $2,932,933.26 26,150.00 11,963.11 $2,971,046.37 998,737.00 .550.00 786,504.20 172,465.77 10,000.00 2,9.71,046.37 $4,804,347.25 $ 66,408.50 332,049.13 15,097.50 3,970,333.37 420.458.75 $4,804,347.25 -14- GENERAL FUND STATEMENT OF SURPLUS VILLAGE OF EDINA Year Ended December 31, 1972 APPROPRIATED Balance at January 1, 1972 Additions: Transfer from unappropriated surplus i I ! i f i I I. i Invested in Fixed Assets Appropriated { Annexed from For Reserve for Total Direct Contributed Morningside Imprest Cash Commitments $3,782,378.74 $2,847,910.63 ! $11,963.11 '$ 26,150.00 $' 550.00 $ .895,805.00 for commitments 132,954.00 132,954.00 Transfer from unappropriated surplus for fixed assets - net 85,022.63 85,022.63 $4,000,355.37 $2,932,933.26 $11,963.11 $ 26,150.00 $; Deductions: j Transfer to revenue 30,022.00 Balance at December 31, 1972 $3,970,333.37 $2,932,933.26 $11,963.11 $ 26,150.00 $ UNAPPROPRIATED Balance at January 1, 1972 I .Additions: Revenues - see separate schedule Installment on voting machine Less expenditures - see separate schedule Deductions: Transfer to revenue i j ! I i i 550.00 $1,028,759.00 .30,022.00 550.00 $ 998,737.00 $ 255,094.51 $3,030,061.24 1,624.00 $3,031,685.24 2,852,821.00 178,864.24 $ 433,958.75 13,500.00 Balance at December 31, 1972 $ 420,458.75 i -15- GENERAL FUND ANALYSIS OF CHANGE IN CASH BALANCE VILLAGE OF EDINA Year Ended December 31, 1972 Balance at January 1, 1972 Additions Receipts - per separate schedule Collection of amount due others: Waterworks Fund Edina Firemen's Relief Association Other funds 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 Sale of land investment Receipts - dedicated fund Deductions: Disbursements - per separate schedule Gasoline purchased for Independent School District No. 273 Purchase of investments Payments on accruals at December.31, 1972: Trade accounts Accrued payroll Edina Firemen's Relief Association Due to other funds Payment of bonds Payment on workorder Payments from.dedicated fund $1,005,561.10 $2,824,349.03 $14,161.88 50,715.51 20,975.91 85,853.30 272,516.06 27,842.11 $ 4,003.58 .696.00 3,307.58 39,200.00 44,451.23 3,297,519.31 $4,303,080.41 $2,656,249.00 24,828.28 750,000.00 $70,796.69 13,616.52 48,.739.02 86,995.04 220,147.27 5,000.00 676.19 3,429.95 3,660,330.69 Balance at December 31, 1972 $ 642,749.72 -16- GENERAL FUND REVENUES VILLAGE OF EDINA Year Ended December 31, 1972 I Actual Revenue Estimated Over- Under* Receipts Accruals Revenues Revenue Estimated Revenue Real and personal property taxes: Received from direct local levies $1,240,146.00 $1,240,146.00 $1,257,702.00 $ 17,556.00* Received for Sales Tax Replacement Fund - ' thirty -five per cent forgiveness 232,203.00 232,203.00 232,203.00 - TOTAL REAL AND PERSONAL PROPERTY TAXES $1,472,349.00 $1,472,349.00 $1,489,905.00 $ 17,556.00* Other taxes 153,844.00 i j 53,844.00 36,500.00 17,344.00 Bicycle licenses 3,312.00 3,312.00 2,100.00 1,212.00 Beer and liquor licenses 11,475.00 1,475.00 1,450.00 25.00 Cigarette licenses 2,155.00 ! 2,155.00 2,200.00 45.00* Dog licenses and impounding fees :6,955.00 6,955.00 6,500.00 455.00 Food and soft drink licenses 9,115.00 i 9,115.00 9,500.00 385.00* Gas pump licenses 1,150.00 1,150.00 1,150.00 - Other business licenses 6,465.00 6,465.00 6,500.00 35.00* Heating and ventilating licenses 857.00 857.00 857.00 Scavenger and garbage collector licenses 915.00 915.00 850.00 65.00 Water softener installation licenses 90.00 90.00 90.00 Building permits 174,614.00 ($ 12,546.00) 162,068.00 "71,.700.00 90,368.00 Cesspool and sewer permits 2,002.00 2,002.00 1,300.00 702.00 Plumbing permits 27,232.00 ( 101.00) 27,131.00 17;000.00 10,131.00 Sign permits 1,460.00 1,460.00 1,000.00 460.00 Street opening fees :2,977.00 2,977.00 2,000.00 977.00 Heating permits 5,053.00 5,053.00 3,500.00 1,553.00 Other permits and licenses 7.00 7.00 7.00 Planning fees 2,266.00 2,266.00 3,500.00 1,234.00* Engineering and clerical .9,241.00 110,582.00 119,823.00 150,000.00 30,177.00* Equipment rental ( 3,600.00) 1,487.00 ( 2,113.00) I 2,113.00* Fines 112,466.00 11,510.00 123,976.00 105,000.00 18,976.00 Income on investments 34,325.00 34$25.00 55,000.00 20,675.00* Sale and rental of property 38,090.00 38,090.00 8,600.00 29,490.00 Sale of automobile licenses 36,683.00 36,683.00 24,000.00 12,683.00 State tax apportionment - liquor and cigarette 155,483.00 155,483.00 158,981.00 3,498.00* State sales and use tax 590,845.00 590,845.00 588,170.00 2,675.00 Police and fire service 11,333.00 _ 11,333.00 9,945.00 1,388.00 Contribution from active funds 54,155.00 54,155.00 54,155.00 - Charges to other funds 20,700.00 20,700.00 20,700.00 - Discounts earned 1,753.00 137.00 it 1,890.00 I 1,890.00 State apportionment - highway 28,796.00 28,796.00 24,000.00 4,796.00 Other revenue :7,802.03 3,105.21 I� 10,907.24 13,150.00 2,242.76* Transfer - reserve for commitments 30,022.00 4 30,022.00 30,022.00 - Transfer - unappropriated surplus _ 13,500.00 13,500.00 I 13,500.00 - $2,824;349.03 $205,712.21 }- $3,030,061.24 $2,911,878.00 $118,183.24 ( ) Indicates deduction. �' -17- GENERAL FUND EXPENDITURES VILLAGE OF EDINA �. Year Ended December 31, 1972 i Unexpended Overexpended* Disbursements Encumbrances Expenditures Appropriation Balance GENERAL GOVERNMENT Mayor and Council $ 18,148.00 ! $ 18,148.00 $ 18,780.00 $ 632.00 Planning 22,596.00 $ 123.00 22,719.00 24,104.00 1,385.00 Administration: Personal services $ 72 579.00 $ 72 579.00 $. 72,600.00 $ 21.00 Contracted services 9,696.00 ($ 88.00) 9,608.00 9,705.00 97.00 Commodities 157.00 .157.00 225.00 68.00 Fixed charges 15,648.00 15,648.00 15,648.00 - $ 98,080.00 ($ 88.00) j $ 97,992.00 $ .98;178.00 $ 186.00 Finance: Personal services $ 78,030.00 $ 172.00 $ 78,202.00 $ 78,290.00 $ 88.00 Contracted services 4,050.00 39.00 4,089.00 4,110.00 21.00 Commodities 126.00 126.00 150.00 24.00 Fixed charges 13,476.00 13,476.00 13,476.00 - $ 95,682.00 $ 211.00 $. 95,893.00 $ 96;026.00 $ 133.00 Election 27,320.00 ( 6,893.00) 20,427.00 20,118.00 309.00* Assessing: Personal services $ 60,160.00 $ 60,160.00 $ 60,200.00 $ 40.00 Contracted services 1,618.00 $ 69.00 1,687.00 3,132.00 1,445.00 Commodities 264.00 1.00 265.00 900.00 635.00 Fixed charges 13,440.00 13,440.00 13,440.00 - $ 75,482.00 $ 70.00 $ 75,552.00 $ 77,672.00 $ 2,120.00 Legal services 62,056.00 10,611.00 72,667.00 73 „920.00 1,253.00 TOTAL GENERAL GOVERNMENT $ 399,364.00 $ 4,034:00 I $ 403,398.00 $ 408,1798.00 $ 5,400.00 ADMINISTRATION, ENGINEERING AND PUBLIC WORKS Administration: Personal services $ 25,455.00 $ 25,455.00 $ 25,455.00 $ - Contracted services and commodities 68.00 68.00 80.00 12.00 Fixed charges 6,132.00 6,132.00 6,132.00 - $ 31,655.00 $ - $ 31,655.00 $ 31,667.00 $ 12.00 Engineering: Personal services $ 126,379.00 $ 2,697.00 $ 129,076.00 $ 128,750.00 $ 326.00* Contracted services 503.00 i 503.00 525.00 22.00 Commodities 6,499.00 245.00 6,744.00 6,750.00 6.00 Fixed charges 24,096.00 24,096.00 24,096.00 - $. 157,477.00 $ 2,942.00 $ 160,419.00 $. 160,121.00 $ 298.00* Public works: Supervision and clerical $ 72,265.00 $ 50.00 I $ 72,315.00 $ 72,350.00 $ 35.00 Training 212.00 212.00 250.00 38.00 Paid leave 32,656.00 2,222.00 34,878.00 34,900.00 22.00 General maintenance 94,095.00 33,344.00 127,439.00 136,521.00 9,082.00 Street cleaning 53,282.00 53,282.00 53,338.00 I 56.00 � i -18- GENERAL FUND EXPENDITURES ( Cont'd) ADMINISTRATION, ENGINEERING AND PUBLIC WORKS ( Cont'd) Public works (cont'd): 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 Lakes and ponds maintenance Sidewalks: Maintenance and repair Snow and ice removal Parking ramp maintenance TOTAL PUBLIC WORKS TOTAL ADMINISTRATION, ENGINEERING AND PUBLIC WORKS PROTECTION OF PERSONS AND PROPERTY Police protection: Personal services Contracted services Commodities Fixed charges Fire protection: Personal services Contracted services Commodities Fixed charges -19- Unexpended Overexpended* Disbursements Encumbrances Expenditures Appropriation Balance $ 62,463.00 $ 215.00 $ 62,678.00 $ 62,736.00 $ 58.00 77,837.00 5,034.00 82,871.00 83,009.00 138.00 84,290.00 84;290.00 84,350.00 60.00 1,167.00 1,167.00 1,250.00 83.00 9,564.00 208.00 9,772.00 .9,828.00 56.00 $ 16,290.00 $ 591.00 $ 16,881.00 $ 16,997.00 $ 116.00 8,209.00 534.00 8,743.00 8,965.00 222.00 4,689.00 4,689.00 5,030.00 341.00 $ 29,188.00 $ 1,125.00 $ 30,313:00 $ 30,992.00 $ 679.00 .4,150.00 4,150.00 4,391.00 241.00 10,404.00 10,404.00 10,567.00 163.00 30,612.00 22.00 30,634.00 30,655.00 21.00 1,469.00 399.00 1,868.00 1,955.00 87.00 $_ 13,154.00. $ 13,154.00 $. 13,490.00 $ 336.00 :16,854.00 $ 1,049.00 17,903.00 18,030.00 127.00 $ 30,008.00 $ 1,049.00 - $ 31,057.00 $ 31,520.00 $ 463.00 285.00 1,547.00 1,832.00 1,.900.00 68.00 9,810.00 9,810.00 9,900.00 90.00 $ 3,935.00 $ 39935.00 $ 4,060.00 $ 125.00 243.00 243.00 310.00 67.00 $ 4,178.00 $ - $ 4,178.00 $ 4,370.00 $ 192.00 5,104.00 485.00 5,589.00 6,066.00 477.00 $ 613,039.00 $ 45,700.00 $ 658,739.00 $ 670,848.00 $12,109.00 $ 802,171.00 $ 48,,642.00 $ 850,813.00 $ 862,636.00 $11,823.00 $ 589,896.00 $ 2,265.00 $ 592,161.00 $. 593,237.00 $ 1,076.00 15,337.00 708.00 16,045.00 16,730.00 685.00 9,372.00 269.00 9,641.00 9,991.00 350.00 151,620.00 151,620.00 151,620.00 - $ 766,225.00 $ 3,242.00 $ 769,467.00 $ 771,578.00 $ 2,111.00 $ 252,920.00 $ 60.00 $ 252,980.00 $ .258,105.00 $ 5,125.00 15,384.00 1,616.00 17,000.00 17,094.00 94.00 4,026.00 425.00 4,451.00 5,621.00 1,170.00 59,220.00 59,220.00 59,220.00 - $ 331,550.00 $ 2,101.00 $ 333,651.00 $ 340.,040.00 $ 6,389.00 -19- GENERAL.FUND EXPENDITURES (Cont'd) PROTECTION OF PERSONS AND PROPERTY (Cont'd) Civil Defense Public health: Personal services Contracted services Commodities Fixed charges Animal control Inspections: Personal services Contracted services Commodities Fixed charges TOTAL PROTECTION OF PERSONS AND PROPERTY NON- DEPARTMENTAL Contingencies Settlement of suits Special assessment on Village property Human Rights Commission TOTAL NON- DEPARTMENTAL Disbursements $ 4,056.00 $ 26,563.00 939.00 1,418.00 5,856.00- $ 34,776.00 15,123.00 $ 48,322.00 ,2,138.00 820.00 10,440.00 $ 61,720.00 $1,213,450..00 $ 27,524.00 25,484.00 5,279.00 .5,428. 00 $ 63,715.00 CENTRAL SERVICES See separate schedule attached ( 2,059.00) TOTAL OPERATING EXPENSES $2,476,641.00 CAPITAL OUTLAY Administration Engineering Public works Police Fire Public health Inspections Contingencies Special assessments on Village property Unallocated capital outlay TOTAL CAPITAL OUTLAY RESERVE FOR COMMITMENTS Planning Assessing Engineering Public works $ 309.00 .38,283.00 34,570.00 3,652.00 150.00 104.00 4,004.00 65,839.00 32,697.00 $ 179,608.00 Encumbrances $ 40.00 ($ 4,238.00) ( 108.00) ( 684.00) ($ 5,030.00) 1,422.00 $ 25.00 $ 25.00 $. 1,800.00 $ 2,38.7.00 1,027.00 $ 3,414.00 12,244.00 $ 70,134.00 $ 3,504.00 2,000.00 418.00 3,331.00 ( 799.00) ( 14,970.00) ($ 6,516.00) $ 3,000.00 2,000.00 3,500.00 64,000.00 Expenditures $` 4,096.00 $ 22,325.00 831.00 734.00 5.856.00 $ 29,746.00 16,545.00 $ 48,322.00 2,138.00 845.00 10.440.00 $ 61,745.00 $1,215,250.00 $ 29,911.00 25,484.00 5,279.00 6.455.00 $ 67,129.00 10,185.00 $2,546,775.00 309.00 41,787.00 36,570.00 4,070.00 150.00 104.00 7,335.00 65,040.00 17,727.00 $ 173,092.00 $ 3,000.00 2,000.00 3,500.00 64,000.00 Appropriation $ 4,363.00 $ 23,830.00 1,555.00 925.00 5.856.00 $ 32,'166.00 17,'222.00 $ 48,'325.00 1,584.00_ 865.00 10;440.00 $ 61,:.214.00 $1,2263";583.00 $ 23,1271.00 26;,600.00 - 5„283.00 5,!800.00 $ 60,'954.00 29.400.00 $2,588,1371.00 $ 600.00 350.00 41;!800.00 36;834.00 4,102.00 1217.00 ;113.00 7,343.00 65,017.00 34,177.00 $ 190;,553.00 $ 3,000.00 2,000.00 3,500.00 64,000.00 I Unexpended Overexpended* Balance $. 267.00 $ 1,505.00 724.00 191.00 $ 2,420.00 677.00 $ 3.00 554.00* 20.00 $ 531.00* $11,333.00 $ 6,640.00* 1,116.00 4.00 655.00* $ 6,.175.00* 19,215.00 $41,596.00 $ 600.00 41.00 13.00 264.00 .32.00 67.00 9.00 8.00. 23.00* 16.450.00 $17,461.00 -20- GENERAL FUND EXPENDITURES (Cont'd) Disbursements Encumbrances Expenditures RESERVE FOR COMMITMENTS (Cont'd) Police $ 10,000.00 $ 10,000.00 Fire .15,000.00 15,000.00 Capital improvement 34,454.00 .34,454.00 Human Rights Commission 1,000.00 1,000.00 TOTAL RESERVE FOR COMMITMENTS $ - $132,954.00 $ 132,954.00 TOTAL $2,656,249.00 $196,572.00 1 $2,852,821.00 ( ) Indicates deduction. I� i Unexpended Overexpended-L Appropriation Balance I $ 10,000.00 $ - 15,000.00 - 34,454.00 - 1,000.00 - ,$ 132,954.00 i $ - I $2,911,878.00 I $59,057.00 I -21- GENERAL FUND CENTRAL SERVICES EXPENDITURES VILLAGE OF EDINA Year Ended December 31, 1972 GENERAL Contracted services Commodities TOTAL GENERAL VILLAGE HALL Personal services Contracted services Commodities Fixed charges TOTAL.VILLAGE HALL GARAGE EQUIPMENT OPERATION Personal services Contracted services Commodities, parts and accessories Fixed charges Gasoline and fuel oil Tires and tubes Lubricants Disbursements $361,144.00 8.449.00 $369,593.00 $ 15,858.00 10,033.00 4,964.00 2.028.00 $ 32,883.00 34,816.00 $ 60,776.00 32,242.00 37,809.00 .32,940.00 31,817.00 8,874.00 3,135.00 TOTAL EQUIPMENT OPERATION $207,593.00 $644,885.00 Less allocation to other departments or funds ( 646,944.00) TOTAL ($ 2,059.00) ( ) Indicates deduction. Encumbrances ($ 324.00) 865.00 $ 541.00 $ 590.00 1,113.00 573.00 $ 2,276.00 2,266.00 $.2,373.00 1,048.00 2,276.00 396.00 1,068.00 $ 7,161.00 $12,244.00 $12,244.00 Expenditures $360,820.00 9,314.00 $370,134.00 $ 16,448.00 . 11,146.00 5,5307.00 2.020.00 $ 35,159.00 37,082.00 f $ 63,149.00 33,290.00 j 40,085.00 ! 32,940.00 32,213.00 9,942.00 3,135.00 $214,754.00 $657,129.00 ( 646,944.00) $ 10,185.00 AonronriIation $362,203.00 9,525.00 $3712728.00 $ 16,450.00 11,15.0.00 4,89.2.00 2,028.00 $ 34,52'0.00 36,840.00 I $ 69,146.00 36, 900.00 46,730.00 32,940.00 33, 5010.00 10,000.00 4,000.00 $233,256.00 $676,344.00 ( 646, 94.4.00) $ 29,400.00 j i i II. . Unexpended Overexpendedti Balance $ 1,383.00 $ 2.00 4.00 645.00* I? V -)7 . vv- 242.00* $ 6,037.00 3,610.00 .6,645.00 .1,287.00 58.00 865.00 X518,502.00 $19,215.00 $19,215.00 -22- GENERAL FUND FIXED ASSETS VILLAGE OF EDINA Year Ended December 31, 1972 -23 Balance Balance January 1; December 31, 1972 Additions Deductions 1972 Land $ 281,283.24 $ 4,870.72 $ 276,412.52 Land improvements 190,556.48 $ 7,105.00 197,661.48 Buildings .1,263,963.67 15,901.00 1,279,864.67 Furniture and fixtures 83,444.28 4,053.00 87,497.'28 Equipment: .Highway 528,477.82 42,987.00 4,659.00 566,805.82 Police 96,803.62 .36,184.00 19,978.65 113,008.97 Fire 173,272.90 4,070.00 .177,342.90 Electric 116,719.93 116,719.93 Engineering 32,893.64 309.00 33,202.64 Traffic signal 84,707.18 84,707.18 Executive 1,834.15 1,834.15 Miscellaneous 32,066.83 3,922.00 35,988.83 TOTAL $2,886,023.74 $114,531.00 $29,508.37 $2,971,046.37 -23 Annual maturities and interest dates Interest rate GENERAL FUND BONDS PAYABLE VILLAGE OF EDINA December 31, 1972 Street Improvement Year No. 14 May 1 and November 1 3.9% 1973 $ 5,000.00 1974 5,000.00 1975 5,000.00 TOTAL $15,000.00 -24- REVENUE SHARING FUND BALANCE SHEET VILLAGE OF EDINA December 31, 1972 ASSETS Cash on deposit Investments - United States Treasury bills - at cost Account receivable from.federal government SURPLUS Unappropriated surplus $ 1,680.67 79,637.33 78,033.00 $159,351.00 $159,351.00 -25- REVENUE SHARING FUND STATEMENT OF SURPLUS - UNAPPROPRIATED VILLAGE OF EDINA Year Ended December 31, 1972 Balance at January 1, 1972 $ _ Add revenues from the federal government 159,351.00 Balance at December 31, 1972 $159,351.00 -26- REVENUE SHARING FUND ANALYSIS OF CHANGE IN CASH BALANCE VILLAGE OF EDINA Year Ended December 31, 1972 Balance at January.1,.1972 Add revenues from the federal government Deductions: Purchase of investments Increase in account receivable from federal government 159,351.00 $79,637.33 78,033.00 157,670.33 Balance at December.31, 1972 $ 1,680.67 -27- POOR FUND BALANCE SHEET VILLAGE OF EDINA December 31, 1972 ASSETS Cash on deposit Investments - United States Treasury bills at cost LIABILITIES AND SURPLUS Accounts payable Unappropriated surplus $ 3,352.47 19,909.33 $23,261.80 $ 590.46 22,671.34 $23,261.80 -28- POOR FUND STATEMENT OF SURPLUS - UNAPPROPRIATED VILLAGE OF EDINA Year Ended December 31, 1972 Balance at January 1, 1972 Deduct: Excess of expenditures over revenues Balance at December 31, 1972 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 Other Professional services Year Ended December 31 $28,745.33 6,073.99 .$22,671.34 Increase Decrease* $17,435.71 $15,989.03 $1,446.68 734.36 734.36* $17,435.71 $16,723.39 $ 712.32 $ 5,298.03 $ 3,876.71 2,899.28 2,288.20 14,975.64 14,973.26 186.75 - NET INCOME (LOSS) ($ 6,073.99) ($ 4,564.78) $1,421.32 611.08 2.38 186.75 $2,221.53 $1,509.21* -29- POOR FUND ANALYSIS OF CHANGE IN CASH BALANCE VILLAGE OF EDINA Year Ended December 31, 1972 Balance at January.l, 1972 Additions: Transfer from General Fund Tax settlements received: June 1972 August 1972 December 1972 Deductions: Payments to Suburban Hennepin County Relief Board• Relief orders Administrative Less accounts payable at December 31, 1972 Payment.made on accrual at December 31, 1971 Purchase of investments Suburban Public Health Nursing Service Professional services Other $ 477.26 7,415.04 9,543.41 $28,113.00 1,104.85 17;435.71 $46,653.56 $5,298.03 2,899.28 $8,197.31 590.46 $ 7,606.85 472.52 19,909.33 14,975.64 150.00 186.75 43,301.09 Balance at December 31, 1972 $ "3,352.47 -30- PARK FUND BALANCE SHEET VILLAGE OF EDINA December 31, 1972 ASSETS Cash on deposit Receivables: Taxes receivable - delinquent Less allowances for delinquent taxes Due from other funds Inventory of supplies - estimated Fixed assets - at cost LIABILITTIES 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 Parkland dedication Surplus: Appropriated: Invested in fixed assets: Direct Contributed: By General Fund by payment of special assessments By others Unappropriated (deficit) $ 12,092.81 12.092.81 $ 1,117.51 8,624.08 19,700.00 $1,170,443.44 $ 15,603.08 17,363.00 600.00 1,720,933.39 $1,754,499.47 $ 8,144.25 9,363.85 14,042.30 $ 31,550.40 29,441.59 $523,487.29 27,002.66 550,489.95 1,720,933.39 ( 27,425.91) $1,754,499.47 -31- PARK FUND STATEMENT OF SURPLUS VILLAGE OF EDINA Year Ended December 31, 1972 APPROPRIATED Balance at January 1, 1972 Additions: Transfer from unappropriated surplus for fixed assets Special assessments paid.by General Fund Donation by Edina Lion's Investment in Fixed Assets Contributed By General Fund by Payment of Special Combined Assessments By Others $1,630,164.18 $458,447.08 $10,558.66 9,285.00 65,040.21 65,040.21 Direct $1,161,158.44 9,285.00 Club 16,444.00 16,444.00. Balance at December 311:1972 $1,7209933.39 $523,487.29 $27,002.66 $1,170,443.44 UNAPPROPRIATED Balance (deficit) at January 1, 1972 Additions: Revenue for year - see separate schedule Deductions: Expenditures for year, in- cluding $9,285.00 for capital outlay - see separate schedule ($ 33,807.34) 334,827.43 $ :301,020.09 328,446.00 Balance (deficit) at December 31, 1972 ($ 27,425.91) -32- PARK FUND ANALYSIS OF CHANGE IN CASH BALANCE VILLAGE OF EDINA Year Ended December 31, 1972 Balance (deficit) at January 1,.1972 Additions: Receipts for year - see separate schedule Payment received on accrual at December 31, 1971 Registration fees - figure skating Dedicated funds for skiing, archery, gym - nastics, etc. Dedicated funds for parkland Deductions: Disbursements for year - see separate schedule Expense - figure skating Payment on accruals at December 31, 1971: Accounts payable Accrued payroll Due to other funds Payment from dedicated funds ($ 22,745.27) $334,149.65 23,908.20 26,940.75 17,563.07 19,700.00 422,261.67 $399,516.40 $328,186.00 13,920.06 $ 4,160.23 7,775.37 14,181.31 26,116.91 15,690.35 383,913.32 Balance (deficit) at December 31,.1972 $ 15,603.08 -33- PARK FUND REVENUES AND EXPENDITURES VILLAGE OF EDINA Year Ended December 31, 1972 REVENUES Real and personal property taxes Registration fees Transfer from active funds Other revenues EXPENDITURES Administration: Personal services Contractual services Commodities Central services Training Paid leave Capital outlay Recreation: Baseball and softball Skating and hockey Tennis instruction Playgrounds Swimming instruction Teen program Special activities Maintenance: Mowing Special turf care Planting and trees Litter removal Parking areas Building and equipment Skating rinks ( ) Indicates deduction. TOTAL REVENUES TOTAL ADMINISTRATION TOTAL RECREATION TOTAL MAINTENANCE TOTAL EXPENDITURES Receipts Accruals $168,555.00 .24,305.00 140,845.00 444.65 $334,149.65 Disbursements $58,438.00 2,368.00 475.00 35,952.00 188.00 :13,977.00 $111,398.00 8,935.00 $ . 4,468.00 :10,651.00 2,616.00 12,219.00 17,149.00 ( 85.00) -8,583.00 $55,601.00 $ X16;141.00 36,164.00 8,497.00 5,896.00 -5,392.00 34,931.00 45,231.00 $152,252.00 $328,186.00 $ 677.78 $ 677.78 Adjustments and Encumbrances $1,035.00 $1,035.00 350.00 $3,835.00 11.00 448.00 $4,294.00 $ 75.00 ( 2,341.00) ( 1,580.00) 720.00 ( 3,050.00) ( 3,924.00) 4,681.00 ($5,419.00) $ 260.00 $168,555.00 24,305.00 140,845.00 1.122.43 $334,827.43 Expenditures $ 58,438.00 2,368.00 475.00 35,952.00 188.00 15,012.00 $112,433.00 9,285.00 $ 4,468.00 P 14,486.00 2,616.00 12,230.00 17,149.00 ( 85.00) 9,031.00 $ 59,895.00 $ 16,216.00 33,823.00 6,917.00 6,.616.00 2,342.00 31,007.00 49,912.00 $146,833.00 $328,446.00 i Estimated Revenues $171,109.00 28,000.00 140,845.00 750.00 $340,704.00 ADDroDriation $ 58,450.00 1,950.00 500.00 35,952.00 200.00 15,025.00 $112,077.00 9,200.00 $ 5,080.00 15,464.00 2,845.00 12,800.00 18,240.00 1,300.00 9,100.00 $ 64,829.00 i $ 18,010.00 34,610.00 8,060.00 7,370.00 3,820.00 32,660.00 50,068.00 $154,598.00 $340,704.00 Actual Revenues Over - under* Estimated Revenues $ 2,554.00* 3,695.00* $ 5,876.57* Expenditures Over* -Under Appropriation $ 12.00 418.00* 25.00 12.00 13.00 $ 356.00* 85.00* $ 612.00 978.00 229.00 570.00 1,091.00 1,385.00 69.00 $ 4,934.00 $ 1,794.00 787.00 1,143.00 754.00 1,478.00 1,653.00 Y I f $12,258.00 -34- PARK FUND FIXED ASSETS VILLAGE OF EDINA Year Ended December 31, 1972 -35- Balance Balance January 1, December 31, 1972 Additions 1972 Land $ 423,204.86 $ 423,204.86 Skating,rinks 5,812.03 5,812.03 Land improvements 475,567.53 $65,040.21 540,607.74 Building 4,042.32 4,042.32 Park equipment 67,548.43 24,406.00 91,954.43 Furniture, fixtures and equipment 3,310.78 393.00 3,703.78 Trucks, automobile and tractors 51,791.78 51,791.78 Miscellaneous 8,692.32 930.00 9,622.32 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 $1,630,164.18 $90,769.21 $1,720,933.39 -35- SWI14MING POOL FUND BALANCE SHEET VILLAGE OF EDINA December -31, 1972 ASSETS Cash on deposit (deficit) Prepaid insurance Fixed assets - on the basis of cost: Land Swimming -pool and bathhouse Filter system Concession furniture and fixtures Less allowances for depreciation ($ 6,508.31) 251.00 $.10,000.00 184,026.67 17,000.00 $3,940.00 751.25 3,188.75 214,215.42 LIABILITIES AND SURPLUS Accounts payable Due to other funds Surplus: Invested in fixed assets: From bonds Direct Donated Unappropriated (deficit) ,$209,431.89 .4,733.53 50.00 $207,958.11 $ 195.00 876.00 214,215.42 ( 7,328.31) $207,958.11 -36- SWIMMING POOL FUND STATEMENT OF SURPLUS VILLAGE OF EDINA Year Ended December 31, 1972 Unappro- Invested in Fixed Assets Total priated Donated Direct From Bonds Balance (deficit) at January 1, 1972 $203,781.45 ($10,198.72) $50.00 $4,498.28 $209,431.89 Additions and transfers: Net income for the year 3,105.66 3,,105.66 .Fixed assets.purchased - ( 635.00) 635.00 Provision for depreciation - 399.75 ( 399.75). Balance (deficit) at December 31, 1972 $206,887.11 ($ 7,328.31) $50.00 $43733.53 $209,431.89 -37- SWIMMING POOL FUND ANALYSIS OF CHANGE IN CASH BALANCE VILLAGE OF EDINA Year Ended December 31;.1972 Balance (deficit) at January,l, 1972 Additions: Pool fees Concession income - see separate schedule Add provision.for depreciation not requiring cash Other revenue Deductions: Operating expense - see separate schedule Payments made on accrual at December 31, 1971 Fixed assets purchased Increase in prepaid insurance Less payables at December 31, 1972: Accounts payable Due to other funds $43,661.00 $470.00 367.75 837.75. 2,109.66 $43,103.00 673.02 635.00 25 1. 00 $44,662.02 ($ 9,525.70) 46,608.41 .$3731082.71 $195.00 876.00 .1,071.00 43,591.02 Balance (deficit) at December 31,,1972 ($ 6.,508.31) -38- SWIMMING POOL FUND STATEMENT OF INCOME AND EXPENSE VILLAGE OF EDINA Year.Ended December 31, 1972 Revenues: Pool fees: Season.tickets $38,128.00 General admissions 5,533.00 $43,661.00 Rental - instruction program 2,000.00 Other 109.66 $45,770.66 Operating.expenses: Salaries and wages: Supervision and clerical $:3,683.00 Life guards 12,405.00 Cashier 1,417.00 Basket room attendants 4,443.00 Watchmen 644.00 Maintenance 5,912.00 $28,504.00 Light and power 1,784.00 Water and sewer 150.00 Gas 3,177.00 Telephone 99.00 Rubbish hauling 195.00 Insurance 277.00 Repairs 851.00 Cleaning.supplies 290.00 Water treatment 2,061.00 General supplies .1,990.00 Annual audit 225.00 Printing and office expense 543.00 Central services 2,940.00 Other 17.00 43,103.00 $ 2,667.66 Income from concessions - see separate schedule 470.00 INCOME BEFORE DEPRECIATION $ 3,137.66 Provision for depreciation . 32.00 NET INCOME $ 3,105.66 -39- SWIMMING POOL FUND STATEMENT OF INCOME AND EXPENSE (CONCESSIONS ONLY) Soft drinks Soft ice cream Popcorn Pies Cakes Sandwiches Other Operating expenses: Salaries and wages: Manager Other Supplies Repairs Provision for depreciation VILLAGE OF EDINA Year Ended December 31,1972 $ 574.00 2,864.00 $3,438.00 153.00 177.00 .368.00 4,136.00 NET INCOME $ 470.00 -40- Gross Profit Cost of Per Cent Sales Sales. Amount to Sales $:1,589.00 $ :795.00 $ 794.00 49.97% .3,339.00 1,905.00 1,434.00 42.95 1,937..00 466.00 .1,471.00 75.94 629.00 420.00 209.00 33.23 1,347.00 934.00 413.00 30.66 826.00 670.00 :156.00 .18.89 393.00 264.00 129.00 .32.82 $10,060.00 $5,454.00 $4,606.00 45.79% $ 574.00 2,864.00 $3,438.00 153.00 177.00 .368.00 4,136.00 NET INCOME $ 470.00 -40- SWIHKING POOL FUND FIXED ASSETS VILLAGE OF EDINA Year Ended December.31,,1972 ASSETS Land Swimming pool and bathhouse Filter system Concession furniture and equipment ALLOWANCES FOR DEPRECIATION Concession furniture and equipment Balance Balance January 1, December 31, 1972 Additions 1972 $ 10,000.00 $ 10,000.00 184,026.67 184,026.67 17,000.00 17,000.00 3,305.00 $635.00 3,940.00 $214,331.67 $635.00 $214,966.67 351.50 399.75 751.25 NET BALANCE ,$213,980.17 $235.25 $214,215.42 .41- GOLF COURSE FUND BALANCE SHEET VILLAGE OF EDINA December 31, 1972 ASSETS Cash :_ Demand deposits Time deposits Working funds Investments - at cost: United States Treasury bills Village of Edina - Golf Course Bonds.of 1963 Accrued interest Due from other funds Prepaid insurance Fixed assets - on the basis of cost: Golf.course Buildings Well Parking,lot and roadways Equipment Less allowances for depreciation Construction in progress Accounts payable Accrued payroll Due to other funds Loan from Liquor Dispensary Fund Bonds payable Surplus: Appropriated for debt service Invested in fixed assets Unappropriated $ .3,114.86 50,000.00 $ 14,932.00 $ 12,603.15 125.80 12,728.95 $101,576.93 56,108.38 LIABILITIES AND SURPLUS $726,414.02 182,906.82 15,018.15 9,627.32 $ 53,166.86 27,660.95 8.00 350.27 45,468.55 6,892.56 986,327.42 $1,067,513.50 $ 1,301.51 - 357.21 8,575.00 245,000.00. 630,000.00 52,300.00 111,327.42 18,652.36 $1,067,513.50 -42- GOLF COURSE FUND STATEMENT OF SURPLUS VILLAGE OF EDINA Year Ended December 31., 1972 Balance at January.l, 1972 - as originally reported Transfer to surplus invested-in fixed assets for prior year's activity Balance it January. 1, 1972 - as restated Additions (deductions): Net income for the year Fixed assets purchased Transfers in (out): Bonds retired Provision for depreciation Balance at December 31, 1972 Appropriated Invested For Debt in Fixed Unappropriated Service Assets $111,929.88 $52,300.00 $ - ( 65,545.14) 65,545.14 $ 46,384.74 $52,300.00 $ 65,545.14 18,049.90 ( .19,934.76) ( 35,000.00) 9,152.48 $ 18,652.36 $52,300.00 19,934.76 35,000.00 ( 9,152.48) $111,327.42 -43- GOLF COURSE FUND ANALYSIS OF CHANGE IN CASH BALANCE VILLAGE OF EDINA Year Ended December. 31, 1972 Balance at January 1, 1972 Additions: Revenues -see separate schedule Net income - operating.departments - see separate schedule Add provision for depreciation not requiring cash Decrease in accounts receivable Decrease in amount due from other funds Decrease in prepaid expense Deductions: Operating expenses - see separate schedule Purchase of investments Additions to fixed assets Payment to fiscal agent: Principal Interest Service charge Interest paid Liquor Dispensary Fund Decrease in liabilities: Balance at January 1, 1972: Accounts payable Accrued payroll Due to other funds .Balance at December 31, 1972: Accounts payable Accrued payroll Due to other funds $196,521.90 $12,302.00 1,378.48 13,680.48 25.28 756.00 105.78 $152,375.00 19,536.04 19,934.76 $35,000.00 22,000.00 50.00 $57,050.00 8,575.00 65,625.00 $101,591.04 211,089.44 $312,680.48 $ 2,378.26 1,185.28 8,765.00 12,328.54 $ 1,301.51 357.21 8,575.00 10,233.72 2,094.82 259,565.62 Balance at December.31,.1972 $ 53,114.86 -44- GOLF COURSE FUND STATEMENT OF INCOME AND EXPENSE VILLAGE OF EDINA Year Ended December 31, 1972 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 Supplies Other Maintenance of course and grounds: Salaries and wages: Superintendent Maintenance $ 1,800.00 $1,344.00 118.00 1,369.00 1,447.00 1,352.00 480.00 $6,110.00 1,833:00 4,277.00 282.00 3,339.00 2,335.00 A 1 s nn $11,400.00 46,228.00 $57,628.00 $125,956.00 25,247.00 $ 10,740.00 3,000.00 4,103.00 12,792.00 $ 30,635.00 800.00 1,861.00 334.00 .989.00 10,200.00 263.00 531.00 $ 45,613.00 12,448.00 $ 24,421.00 151,203.00 18,290.00 1,067.00 1.540.90 $196,521.90 -45- 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 Professional services Other Net income - operating.departments - see separate schedule Interest expense: On bonds On loan from:Liquor Dispensary Fund Provision for depreciation $ 395.00 286.00 3,784.00 533.00 4,689.00 2,914.00 837.00 4,732.00 248.00 14,100.00 3,233.00 798.00 137.00 $ 94,314.00 INCOME BEFORE INTEREST AND DEPRECIATION $ 22,050.00 8,575.00 INCOME BEFORE DEPRECIATION NET INCOME $152,375.00 $ 44,146.90 12,302.00 $ 56,448.90 30,625.00 $ 25,823.90 7,774.00 $.18,049.90 -46- GOLF COURSE FUND STATEMENT OF INCOME AND EXPENSE - OPERATING DEPARTMENTS VILLAGE OF EDINA Year Ended December 31,.1972 Driving.range: Revenue $23,182.00 Less operating expenses: Salaries and wages $ 5,728.00 Replacement balls 2,815.00 Supplies 1,242.A0.- Provision for depreciation 345.00 10,130.00 $13,052.00 Grill: Sales: Food $31,118.00 Beer 10$54.00 Other 743.00 $42,415.00 Less cost of goods sold: Food $18,101.00 Beer 3,686.00 21,787.00 $20,628.00 Less operating expenses: Salaries and wages: Manager $ 3,748.00 Cooks, waiters and waitresses 13,333.00 $17,081.00 Supplies 984.00 Repair work 446.00 Expenses - prorated 1,833.00 Provision for depreciation 1,034.00 21,378.00 ( 750.00) NET INCOME $12,302.00 -47- GOLF COURSE FUND FIXED ASSETS VILLAGE OF EDINA Year Ended December 31, 1972 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 Construction in progress ALLOWANCES FOR DEPRECIATION Golf course equipment Club house equipment Pro shop equipment Range equipment Concession equipment NET BALANCE $ 46,955.90 $ 9,152.48 $ 56,108.38 $ 975,545.14 $10,782.28 $ 986,327.42 -48- Balance Balance January 1, December 31, 1972 Additions 1972 $ 726;414.02 $ 726,414.02 $ 1742202.26 $ 174,202.26 6,491.92. 6,491.92 2,212.64 2,212.64 $ 182,906.82 $ - $ 182,906.82 15,018.15 15,018.15 92627.32 9,627.32 $ 58,066.57 $13;042.20 $ 71,108.77 8,805.91 8,805.91 5,159.79 5,159.79 6,160.93 6,160.93 10,341.53 .10,341.53 $ 88,534.73 $132042.20 $ 101,576.93 - 6,892.56 .6,892.56 $1,022,501.04 $19,934.76 $1,042,435.80 $ 28,230.19 $ 6,458.76 $ 34,688.95 4,965.49 798.98 52764.47 2,188.78 515.99 2,704.77 5,086.84 344.59 5,431.43 6.484.60 1.034.16 7.518.76 $ 46,955.90 $ 9,152.48 $ 56,108.38 $ 975,545.14 $10,782.28 $ 986,327.42 -48- GOLF COURSE FUND BONDS PAYABLE VILLAGE OF EDINA December 31, -1972 December 1 Annual maturities and interest dates and June 1 Interest rates 3.0% to 3.5% Year 1973 $ 35,000.00 1974 35,000.00 1975 35,000.00 1976 35,000.00 1977 40,000.00 1978 40,000.00 1979 40,000.00 1980 40,000.00 1981 40,000.00 1982 40,000.00 1983 50,000.00 1984 50,000.00 1985 50,000.00 1986 50,000.00 1987 50,000.00 TOTAL $630,000.00 -49- RECREATION CENTER FUND BALANCE SHEET VILLAGE OF EDINA December 31, 1972 ASSETS Cash: On deposit Working fund Investments: United States Treasury bills - at cost 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 $ 3,849.68 1,000.00 $ 39,160.06 807,824.56 $ 4,849.68 14,932.00 10,806.34 12,000.00 1,923.29 1,013.30 $42,707.67 21,761.35 20,946.32 867,930.94 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 Surplus: .Invested in fixed assets: Direct Contributed Appropriated - for debt service Unappropriated (deficit) $100,000.00 170,000.00 14,291.43 $146,089.51 2,.7.50.00 $913,455.55 $ 10,809.52 2,548.72 5,405.01 284,291.43 9,474.00 445,000.00 148,839.51 36,500.00 ( 29,412.64) $913,455.55 -50- RECREATION CENTER FUND STATEMENT OF SURPLUS VILLAGE OF EDINA Year Ended December 31, 1972 _ Appropriated Contributed Invested Invested in in Fixed Fixed For Debt Unappropriated Assets Assets Service Total Balance at January 1, 1972 $ 1,227.85 Additions: Net income for year 18,891.57 Fixed assets purchased ( 7,897.43) Transfers in (out): $ 95,457.45 $3,850.00 $36,500.00 $135,807.45 7,897.43 7,897.43 Payment of bonds ( 25,000.00) 252000.00 25,000.00 Payment of amount due to other funds ( 20,989.60) 20,989.60 20,989.60 Provision for depre- ciation 4,354.97 ( 3,254.97) (.1,100.00) ( 4,354.97) Balance (deficit) at December 31, 1972 ($29,412.64) $146,089.51 $2,750.00 $36,500.00 $185,339..51 -51- RECREATION CENTER FUND ANALYSIS OF CHANGE IN CASH BALANCE VILLAGE OF EDINA Year Ended December 31, 1972 Balance at January 1, 1972 Additions Excess of revenues over expenses (see separate schedule) Add provision for depreciation not requiring cash Decrease in due from other funds Deductions: Purchase of investments Payment of bonds Additions to fixed assets Increase in accounts receivable Increase in inventory Increase in prepaid insurance Decrease in deferred income Decrease in liabilities: Balance at January 1, 1972: Accounts payable Accrued payroll Accrued interest Due to other funds Balance at December 31,.1972: Accounts payable Accrued payroll Accrued interest Due to other funds $ 9,318.71 2,396.46 5,763.34 36,371.69 $18,891.57 4,354.97 $53,850.20 $23,246.54 1,580.00 $14,932.00 25,000.00 7,897.43 . 5,691.34 26.38 40.80 3,158.00 $56,564.61 24,.826.54 $81,391.15 $10,809.52 2,548.72 5,405.01 14,291.43 33,054.68 20,795.52 77,541.47 Balance at December 31,.1972 $ 3,849.68 -52- RECREATION CENTER FUND STATEMENT OF INCOME AND EXPENSE VILLAGE OF EDINA Year Ended December 31, 1972 Revenues: Season tickets Daily skating fees Spectator fees Ice rental Skate sharpening and repair Other Concession income Less operating expense: Cost of food sold Salaries and wages Operating expenses: Salaries and wages: Manager Supervision and clerical Ice guard Cashier and ticket takers Custodian Maintenance Organist Other expenses: Light and power Fuel and heat Central services Equipment maintenance Mileage and conference expense Telephone Printing Supplies Lumber and paint Audit Insurance Blacktop and asphalt Rubbish hauling Other Interest expense: On bonds On loan from Liquor Dispensary Fund Provision for depreciation $22,199.00 $ 6,228.00 2,934.00 9,162.00 $12,730.00 3,716.00 2,458.00 10,892.00 10,111.00 31,612.00 1,140.00 $72,659.00 $24,327.00 18,117.00 12,180.00 4,013.00 688.00 903.00 1,070.00 9,218.00 1,083.00 $ 29,312.00 8,190.00 25,122.00 115,011.00 6,808.00 980.57 .13,037.00 $198,460.57 750.00 1,775.00. 911:00 800.00 517.00 76,352.00 149,011.00 INCOME BEFORE INTEREST AND DEPRECIATION $ 49,449.57 $16,003.00 10,200.00 26,203.00 INCOME BEFORE DEPRECIATION $ 23,246.57 4,355.00 NET INCOME $ 18,891.57 -53- RECREATION CENTER FUND FIXED ASSETS VILLAGE OF EDINA Year Ended December 31, 1972 ASSETS Land improvements Buildings Furniture and equipment ALLOWANCES FOR DEPRECIATION Furniture and equipment Balance January,l, 1972 $ 39,160.06 800,524.13 42,110.67 $881,794.86 Balance December 31, Additions 1972 $ 39,160.06 $7,300.43 807,824.56 597.00 42,707.67 $7,897.43 $889,692.29 17,406.38 4,354.97 21,761.35 NET BALANCE $864,388.48 $3,542.46 $867,930.94 -54- Annual maturities and interest dates Year 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 RECREATION CENTER FUND BONDS PAYABLE TOTAL VILLAGE OF EDINA December 31, 1972 March-1 and March 1 and February 1 September 1 September 1 and August 1 3.1% to 3.3% 3% .5% Series A Series B Series C Total $ 20,000.00 $ 10,000.00 $10,000.00 $ 40,000.00 20,000.00 10,000.00 10,000.00 40,000.00 20,000.00 10,000.00 .10,000.00 40,000.00 205000..00 .10,000.00 10,000.00 405000.00 20,000.00 105000.00 10,000.00 40,000.00 30,000.00 15,000.00 10,000.00 55,000.00 30,000.00 15,000.00 .10,000.00 55,000.00 30,000.00 15,000.00 45,000.00 .30,000.00 15,000.00 45,000.00 .30,000.00 .15,000.00 45.000.00 $250,000.00 $125,000.00 $70,000.00 $445,000.00 -55- GUN RANGE FUND BALANCE SHEET VILLAGE OF EDINA December 31, 1972 ASSETS Cash on deposit (deficit) Supply inventory Prepaid insurance Due from other funds Fixed assets - on the basis of cost: Land improvements Building Furniture and equipment Less allowance for depreciation LIABILITIES AND SURPLUS Accounts payable Accrued payroll Due to other funds Surplus Invested in fixed assets: Direct Contributed: Property donated by others Unappropriated (deficit) ($11,894.19) 250.00 432.00 495.00 $ 4,475.00 46,720.90 $586.00 87.90 498.10 51,694.00 $40,976.81 $ 237.35 64.85 5,896.29 $11,694.00 40,000.00 51,694.00 ( 16,915.68) $40,976.81 -56- GUN RANGE FUND STATEMENT OF SURPLUS VILLAGE OF EDINA Year Ended December 31, 1972 Balance (deficit) at January 1, 1972 Deduction: Net loss for year Transfers in (out): Fixed assets purchased Provision for depreciation Balance (deficit) at December 31, 1972 Invested in Fixed Assets Unappropriated Direct Contributed ($ 6,795.95) $ 4,259.31 $40,000.00 ( 2,685.04) ( 7,493.29) 7,493.29 58.60 ( 58.60) ($16,915.68) $11,694.00 $40,000.00 -57- GUN RANGE FUND STATEMENT OF INCOME AND EXPENSE VILLAGE OF EDINA Year Ended December 31, 1972 Revenues: .Range fees: Rifle Pistol Trap Firearm safety instruction Sale of ammunition Concession Sale of brass and lead Operating expenses: Salaries and wages: Supervision and clerical $2,028.00 Maintenance 625.00 Light and power Telephone Insurance Supplies Concession commodities Other LOSS BEFORE Provision for depreciation $1,213.00 434.00 93.00 165.00 $1,905.00 897.00 377.00 85.96 $3,264.96 $2,653.00 1,390.00 168.00 588.00 785.00 234.00 73.00 5,891.00 DEPRECIATION $2,626.04 59.00 NET LOSS $2,685.04 -58- GUN RANGE FUND ANALYSIS OF CHANGE IN CASH BALANCE VILLAGE OF EDINA Year Ended December 31, 1972 Balance (deficit) at January,1,.1972 Additions: Revenue - see separate schedule for detail Increase in amounts payable: Balance at December 31, 1972: Accounts payable Accrued payroll Due to other funds Balance at January 1, 1972: Accounts payable $ 223.18 Due to other funds 580.00 $ 237.35 64.85 5,896.29 Deductions: Expenses for the year - see separate schedule Less provision for depreciation not requiring cash Fixed assets purchased Increase in prepaid expense Increase in inventory Increase in amount due from other funds $3,264.96 $6,198.49 ($ 6,416.52) 803.18 5,395.31 8,660.27 $ 2,243.75 $5,950.00 58.60 $5,891.40 7,493.29 8.25 250.00 495.00 14,137.94 Balance (deficit) at December 31, 1972 ($11,894.19) -59- GUN RANGE FUND FIXED ASSETS VILLAGE OF EDINA Year Ended December 31, 1972 ASSETS Land improvements Buildings Furniture and equipment ALLOWANCES FOR DEPRECIATION Furniture and equipment Balance January 1, 1972 Additions $ 2,878.00 $1,597.00 40,824.61 5,896.29 586.00 $44,288.61 $7,493.29 29.30 58.60 NET BALANCE $44,259.31 $7,434.69 Balance December 31, 1972 $ 4,475.00 46,720.90 586.00 $51,781.90 87.90 $51,694.00 PARK SINKING FUND BALANCE SHEET VILLAGE OF EDINA December 31, 1972 ASSETS Cash: Demand deposits Time deposits Investments - at cost: United States Treasury notes United States Treasury bills Receivables: Taxes receivable - current and delinquent Taxes. receivable - deferred Less allowance for delinquent and uncollectible taxes LIABILITIES, RESERVE AND SURPLUS Amount payable during.1973: Interest Bonds Bonds payable Less current portion - shown above Reserve for future interest Less current portion - shown above Unappropriated surplus $ 125.85 100_,000.00 $ 25,000.00 14,932.00 $100,125.85 39,932.00 $ 75,229.11 403,000.00 $478,229.11 26,979.11 451,250.00 $591,307.85 $440,000.00 50,000.00 $ 77,555.00 16,040.00 $.16,040.00 50,000.00 390,000.00 61,515.00 73,752.85 $591,307.85 -61- PARK.SINKING FUND STATEMENT OF SURPLUS VILLAGE OF EDINA Year Ended December 31, 1972 Balance at January 1, 1972 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 $66,934.76 $ 3,662.50 $17,810.00 5,960.00 23,770.00 27,432.50 $94,367.26 $ 2,615.41 $17,810.00 189.00 17,999.00 20,614,41 Balance at December 31, 1972 $73,752.85 -62- PARK SINKING FUND ANALYSIS OF'CHANGE IN CASH BALANCE VILLAGE OF EDINA Year Ended December 31, 1972 Balance at January 1, 1972 Additions: Tax settlements received from county: March 1972 June 1972 November 1972 Income on investments Deductions: Payment to fiscal agents: Principal Interest Service charge Purchase of investments Payment of amount due to other funds $117,347.26 $ 1,984.52 35,287.14 33,522.93 $70,794.59 3,662.50 74,457.09 $191,804.35 $50,000.00 17,810.00 189.00 $67,999.00 .14,932.00 8,747.50 91,678.50 Balance at December 31, 1972 $1009125.85 -63 -' PARK SINKING FUND BOND AND INTEREST.MATURITIES AND DEFERRED TAX LEVIES VILLAGE OF EDINA December 31, 1972 Annual maturities and interest dates Interest rates Year Bonds 1974 $ 50,000.00 1975 509000.00 1976 4031000.00 1977 50,000.00 1978 50,000.00 1979 50,000.00 1980 50,000.00 1981 50.000.00 TOTAL $390,000.00 March 1, June 1, September 1 and December 1 2.9% to 3.9% 6,825.00 Excess 4,875.00 ( 11,125.00) (Deficiency) 52,925.00 975.00 of Deferred $61,515.00 $48,515.00 Levies Over Bond and Interest Deferred Interest Maturities Levies $14,230.00 ($ 73,770.00) $ 72,000.00 12,380.00 ( 10,620.00) 733,000.00 .10,530.00 ( 12,470.00) 63,000.00 84775.00 ( 5,225.00) 64,000.00 6,825.00 ( 8,175.00) 4,875.00 ( 11,125.00) 2,925.00 52,925.00 975.00 50,975.00 $61,515.00 $48,515.00 65,000.00 66,000.00 $4033000.00 -64- PARK CONSTRUCTION FUND BALANCE SHEET VILLAGE OF EDINA December 31, 1972 ASSETS Cash on deposit (deficit) ($ 111,110.01) Due from other funds 9,987.72 Donations receivable 28,000.00 Fixed assets at cost: Land $ 8001327.60 Construction in .progress 523,503.62 1,323,831.22 $1,250,708.93 LIABILITIES, RESERVE AND SURPLUS Due to other funds $ 16,487.00 Reserve for construction (deficit) ( .89,609.29) Surplus: Invested in fixed assets: Direct $1,273,831.22 Contributed 50.000.00 1,323,831.22 $1,250,708.93 -65- PARK CONSTRUCTION FUND ANALYSIS OF RESERVE.FOR CONSTRUCTION VILLAGE OF EDINA Year Ended December 31, 1972 Balance (deficit) at January,l, 1972 Additions: Transfer from Liquor Dispensary Fund Federal Grant Department of Housing and Urban Development Other Deductions: Purchase of.fixed assets $80,000.00 58,832.68 R'Ar, 11) ($119,213.67) 139,668.80 $.20,455.13 110,064.42 Balance (deficit) at December 31,.1972 ($ 89,609.29) PARK CONSTRUCTION FUND ANALYSIS OF CHANGE IN CASH BALANCE VILLAGE OF EDINA Year Ended December 31, 1972 Balance (deficit) at January 1,.1972 Additions: Transfer from Liquor Dispensary Fund Sale of land donated Donation for Brian Wippermann Gun Safety Range Federal grant - Department of Housing and Urban Development Payment received on accrual at December 31, 1971 Other Deductions: Purchase of land Purchase of.fixed assets Decrease in liabilities: Balance at January.1,.1972: Accounts payable Due to other funds Contracts payable Balance at December 31, 1972: Due to other fund $80,000.00 50,000.00 4,000.00 58,832.68 59,199.69 836.12 $91,797.99 63,514.93 $ 6,069.44 3,617.00 14,739.22. $24,425.66 ($200,726.92) 252,868.49 $ 521,141.57 .16,487.00 7,938.66 .163,251.58 Balance (deficit) at December 31, 1972 ($111,110.01) -67- PARK CONSTRUCTION FUND FIXED ASSETS VILLAGE OF EDINA Year Ended December 31, 1972 Lake Edina Park 792.23 Chowen Park 472.65 Sherwood Pump Park 349.14 Braemar Pavilion .3,118.51 Arden Park 5,541.50 Tingdale Park Hyde Park - $ 469,976,41 $1,178,506.02 (A) Transferred to Gun Range Fund. (B) Transferred.to Recreation Center Fund. 972.92 187.20 246.84 $63,514.93 49091.43(B; $9,987.72 792.23 472,65 349.14 5,541.50 187.20 246.84 $ ,523,503.62 $155,312.92 $9,987.72 $1,323,831.22 Balance Balance January 1, December 31, 1972 Additions Deductions 1972 Land: Braemar Park $ 229,570.37 $ 37,318.48 $ 266,888.85 Pamela Park 2,44 0.00 2,440.00 Division Park 225.81 212.46 438.27 Mud. Lake 453,456.02 3:,517:05 456,973.07 Cornelia Park 20,286.36 20,286.36 Morton Arneson Park 2,551.05 2,551.05 Danbury Estate - 50,750.00 50,750.00 $ 708,529.61 $ 91,797.99 $ - $ :800,327.60 Construction in progress: Pamela Park $ 250,805.78 $ .1,566.00 $ 252,371.78 Braemar Park 58,483.02 5,863.82 64,346.84 Mud Lake 16,602.08 1,400.00 18,002.08 Historical site 34,235.43 8,213.01 42,448.44 Weber Park 514.30 1,709.00 2,223.30 Beard Park 10,579.06 _10,579.06 Heights Park 2,953.24 2,953.24 Walnut Ridge Park 9,061.58 1,642.23 10,703.81 Cornelia School Park 1,061.34 2,136.40 3,197.74 Garden Park 182.00 7$00.88 7,682.88 Braemar Sports Complex 45,351.71 29,952.08 75,303.79 Creek Valley School Park 11,272,37 225.00 .11,497.37 Highlands Park 6,380.75 445.00 6,825.75 Gun Range 5,728.74 167.55 $5,896.29(A) - Nine Mile Creek 1,421.20 842.00 2,263.20 Alden Park 937.67 937.67 Division Park .3,801.50 331801.50 Countryside Park 330.61 445.00 775.61 Lake Edina Park 792.23 Chowen Park 472.65 Sherwood Pump Park 349.14 Braemar Pavilion .3,118.51 Arden Park 5,541.50 Tingdale Park Hyde Park - $ 469,976,41 $1,178,506.02 (A) Transferred to Gun Range Fund. (B) Transferred.to Recreation Center Fund. 972.92 187.20 246.84 $63,514.93 49091.43(B; $9,987.72 792.23 472,65 349.14 5,541.50 187.20 246.84 $ ,523,503.62 $155,312.92 $9,987.72 $1,323,831.22 IMPROVEMENT FUNDS COMBINED BALANCE SHEET VILLAGE OF EDINA December 31, 1972 Due from Construction Fund for advances - 1,421,078.06 Due from Minnesota State -Aid Fund Joint Construction in progress: Sewer Current Total Eliminations Construction No. 1 ASSETS 162,646.29 162,646.29 Unallocated construction cost 170,558.41 Cash (deficit): .1,699.25 Demand deposits $ 309,776.63 $2,564.40 $ 26,962.77 $2,564.40 Time deposits 200,000.00 Accounts payable $ 2 223.66 $ 509,776.63 $ - $ 26,962.77 $2,564.40 Investments 4,467,100.40 I' Due to other funds 107,603.33 Receivables: $2,564.40 Construction contracts payable 162,646.29 162,646.29 Special assessments: - $1,421,078.06 1,421,078.06 Bonds payable 11,805,000.00 Current - certified in Construction deposits 64,238.86 64,238.86 1972 - collectible in 1973 $ 1,517,099.33 ments Delinquent 461,452.50 Reserve for construction 40,617.40 Deferred 6,382,320.93 2,979,896.75 Assessments receivable - $15,346,859.57 $1,421,078.06 $1,767,353.04 $2,564.40 Village share of projects: Deferred 211,753.95 $ 8,572,626.71 $ - $ - $ - Less allowance for delinquent and uncollectible taxes 867,011.21 $ 7,705,615.50 $ - $ - $ - Due from other funds 180,052.42 49,934.81 Due from Construction Fund for advances - 1,421,078.06 Due from Minnesota State -Aid Fund 625,000.00 Construction in progress: Current 1,526,109.92 1,526,109.92 Deferred 162,646.29 162,646.29 Unallocated construction cost 170,558.41 .1,699.25 $15$46,859.57 $1,421,078.06 $1,767,353.04 $2,564.40 LIABILITIES, RESERVE AND SURPLUS Accounts payable $ 2 223.66 Accrued interest 39,749.51 Due to Hennepin County 7,970.40 I' Due to other funds 107,603.33 $ 78,772.43 $2,564.40 Construction contracts payable 162,646.29 162,646.29 Advance from Improvement Funds - $1,421,078.06 1,421,078.06 Bonds payable 11,805,000.00 Construction deposits 64,238.86 64,238.86 Reserve for assessment adjust- ments 136,913.37 Reserve for construction 40,617.40 40,617.40 Unappropriated surplus (deficit) 2,979,896.75 $15,346,859.57 $1,421,078.06 $1,767,353.04 $2,564.40 Permanent Sanitary Improvement Sewer Revolving No. 53 $ 1,796.63 $ 950.40 189,886.67 96,900.27 $ 5,746.22 32,348.66 32,635.97 $ 5,458.91 100,000.00 100,000.00 $397,142.21 $ 195.97 26,266.50 7,302.91 363,376.83 $397,142.21 $ 17,721.35 7,456.89 8,342.96 $ 16,835.28 Southdale Improvement $ 268.98 $ 268.98 42,918.40 $114,685.95 $43,187.38 $ 80,000.00 34,685.95 $114,685.95 $ 150.00 15,000.00 12,673.60 15,363.78 $43,187.38 i it Improvement Bond Redemption I $ 268,313.19 200.000.00 $ 468,313.19 1,605,496.77 $ 1,493,631.76 421,646.95 6,382,320.93 211.753.95 .$ 8,509,353.59 826,032.28 $ 7,683,321.31 9,805.11 1,321,078.06 168,859.16 1 $11,256,873.60 $ 2,027.69 39,599.51 7,970.40 Municipal State -Aid Street Bonds Advance Funding Highway Bonds ($ 423.82) $ 9,344.08 ($ 423.82) $ 9,344.08 2,531.898.29 625,000.00 20,312.50 $624,576.18 $2,561,554.87 8,585,000.00 $625,000.00 $2,5009000.00 .116,936. 86 2,505,339.14 $11,256,873.60 I 1 ( 423.82) 61,554.87 $624,576.18 $2,561,554.87 -69- IMPROVEMENT FUNDS STATEMENT OF SURPLUS — UNAPPROPRIATED VILLAGE OF EDINA Year Ended December 31, 1972 Balance (deficit) at January 1, 1972 Additions: Interest spread on assessments for collection Joint Permanent Sanitary Improvement Municipal Advance Sewer Improvement Sewer Southdale Bond State -Aid Funding Total No. 1 Revolving No. 53 Improvement Redemption Street Bonds Highway Bonds $2,874,750.76 $2,564.40 $356,930.68 $46,264.94 $13,005.36 I $2,355,182.34 ($423.82) $101,2,26.86 in 1973 $ 381,570.90 Income on investments 193,684.74 Capitalized interest 5311976.06 Other 93.40 $ 629,325.10 Deductions: Interest on bonds $ 498,222.35 Bank service charges 2,534.72 Cancellation and adjustments 15,525.34 $ 516,282.41 $2,987,793.45 Change in reserve for delinquent taxes ( 7,896.70) Balance (deficit) at December 31, 1972 $2,979,896.75 -70- $ 273.85 $ 843.87 $ 380,453.18 6,237.60 3,236.11 $ 2,922.92 82,489.78 $ 98,798.33 I 53,976.06 93.40 $ - $ 6,511.45 $ 4,173.38 $ 2,922.92 $ 516,919.02 $ - $ 98,798.33 i $ 3,720.00 $ 525.00 $ 355,852.35 $138,125.00 96.00 39.50 2,053.90 345.32 $2,564.40 $2,564.40 $ - 12,960.94 $16,776.94 $ 564.50 $ 357,906.25 $ $138,470.32 $ - $363,442.13 $33,661.38 $15,363.78 $2,514,195.11 ($423.82) $ 61,554.87 ( 65.30) 1,024.57 ( 8,855.97) $ - $363,376.83 $34,685.95 $15,363.78 $2,505,339.14 ($423.82) $ 61,554.87 -70- IMPROVEMENT FUNDS ANALYSIS OF CHANGE IN CASH BALANCE VILLAGE OF EDINA Year Ended December 31, 1972 Balance (deficit) at January 1, 1972 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 charge Construction deposits received Payment received from Minnesota State - Aid Street Fund Collection received on accounts at December 31, 1971 Payment received for other fund 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 Other Decrease in con- struction in progress: Balance at January 1, 1972: Current con- struction $2,071,544.97 Deferred construc- tion 62,088.42 Unallocated 7,521.45 $2,141,154.84 $ 42,433.51 5,954.00 1,547.30 1,023,234.06 427,454.05 85,990.96 $1,586,613.88 Combined Construction $ 200,561.04 ($ 453,628.47) $1,647,818.27 I I 513,568.59 Municipal 1,400,000.00 Sewer 3,232,888.09 Sewer 1,200,000.00 $1,200,000.00 19,346.46 Funding 112,286.06 112,286.06 I 401,060.64 176,060.64 109,363.92 I 87,449.51 20,312.50 $8,656,644.53 $1,575,796.21 Joint Permanent Sanitary i Improvement Municipal Advance Sewer Improvement Sewer Southdale Bond State -Aid Funding No. .I Revolving. No. 53 Improvement Redemption Street Bonds Highway Bonds. $2;564.40 $49,804.63 $118,188.22 $55,978.96 $ 340,082.47 ($ 423.82) $ 87,994.65 $ 4,646.57 $ 19,090.68 $1,624,081.02 117.60 1,151.66 512,299.33 1,400,000.00 6,237.60 3,236.11 $ 2,922.92 1,009,713.49 $2,210,777.97 19,346.46 $225,000.00 21,914.41 20,312.50 $ $31,314.27 $ 23,478.45 $ 2,922.92 $4,587,354.71 $225,000.00 $2,210,777.97 -71- IMPROVEMENT FUNDS ANALYSIS OF CHANGE IN CASH BALANCE ( Cont'd) Combined Deductions (cont'd): Decrease in con- struction in pro- gress (cont'd): Balance at December 31, 1972: Current con- struction $1,526,109.92 Deferred construc- tion 162,646.29 Unallocated 1,699.25 $1,690,455.46 Increase in con- tracts payable: Balance at December. 31, 1972 $ 162,646.29 Balance at January 1, 1972 62.088.42 Less amount due General Fund for construction costs Payment to other funds accrued at December 31, 1971 Investments purchased Payment to County Auditor for bookkeeping charges Transfer to Construction Fund Bonds redeemed Interest on bonds Bank service charge Refunds and adjustments $ 450,699.38 100,557.87 $ 551,257.25 $1,035,356.63 Construction 78,772.43 $ 956,584.20 $ 956,584.20 144,699.46 138,620.77 3,710,886.26 Balance (deficit) at December 31, 1972 1,266.75 1,200,000.00 1,825,000.00 504,343.50 2,534.72 2,114.05 $8,347,428.94 $1,095,204.97 $ 509,776.63 $ 26,962.77 i Joint Permanent Sanitary Sewer Improvement Sewer Southdale No. 1 Revolving No. 53 Improvement i $ 4,435.60 74,886.67 $ 96,900.27 $42,918.40 40,000.00 15,000.00 3,720.00 675.00 96.00 39.50 $ - $79,322.27 $140,716.27 $58,632.90 $2,564.40 $ 1,796.63 $ 950.40 $ 268.98 i Improvement Municipal Advance Bond State -Aid Funding Redemption Street Bonds Highway Bonds $ 1,643.09 1, 345, 222. 70. $2,150,958.22 1,266.75 1,200,000.00 1,545,000.00 $225,000.00 361,823.50 138,125.00 2,053.90 345.32 2,114.05 $4,459,123.99 X$225,000.00 $2,289,428.54 $ 468,313.19 ($ 423.82) $ 9,344.08 -72- IMPROVEMENT FUNDS BONDS PAYABLE VILLAGE OF EDINA December 31, 1972 Sanitary Sewer Year Total No. 53. . Annual maturities and interest dates January 1 and July 1 Interest rates 3.1% 1973 $ 1,560,000.00 1974 2,135,000.00 $40,000.00 1975 3,370,000.00 40,000.00 1976 1,930,000.00 19,77 1,380,000.00 1978 715,000.00 1979 715.000.00 TOTAL $11,805,000.00 $80,000.00 -73- Improvement Municipal Advance Southdale Bond State -Aid Funding Improvement Redemption Street Bonds Highway Bonds March 1 March 1, May 1, June 1 and January 1 and June 1 and 15, December 1 July.l September 1, November 1 and December 1 and 15 3% 2.9% to 5.7% 5% to 6% 5.40% to 5.70% $15,000.00 $1,545,000.00 ! 1,245,000.00 $225,000.00 $ 625,000.00 2,505,000.00 200,000.00 625,000.00 1,105,000.00 200,000.00 625,000.00 755,000.00 625,000.00 715,000.00 715,000.00 $15,000.00 I $8,585,000.00 $625,000.00 52,500,000.00 -73- WATERWORKS FUND BALANCE SHEET VILLAGE OF EDINA December 31, 1972 ASSETS CURRENT ASSETS Cash :' Demand deposits (deficit) Time deposits Appropriated funds Investments - at cost and accrued interest which approximates market: Village of Edina - Waterworks Revenue Bonds of 1963 Federal Land Bank bonds United States Treasury notes United States Treasury bills Less amount segregated and shown below Accounts receivable: From customers Due from other funds Inventories: Meters = at cost Supplies - estimated Prepaid insurance OTHER.ASSETS Segregated investments - reserve for debt retirement FIXED ASSETS - Note A Land Land improvements Distribution system Buildingsand equipment Less allowance for depreciation ($ 4,956.88) 250,000.00 $ 245,043.12 9,712.50 $ 254,755.62 $ 18,750.67 101,057.29 25,172.33 126,356.78 $ 271,337.07 68,840.00 202,497.07 $ 94,183,30 14,161.88 108,345.18 $ 13,833.37 1,750.00 15,583.37 1,642.00 TOTAL CURRENT ASSETS $ 582,823.24 $ 20,865.96 6,294,655.97 2.428.710.99 $8,744,232.92 2,317,614.71 F 68,840.00 $ 27,556.38 6,426,618.21 6,454,174.59 $7,105,837.83 1. j � 1 LIABILITIES AND SURPLUS I I I ' I CURRENT LIABILITIES Accounts payable $ 23,348.22 Salaries and wages 2,273.14 Accrued interest payable 2,115.83 $ 27,737.19 Current maturities of bonds payable 55,000.00 TOTAL CURRENT LIABILITIES $ 82,737.19 LONG- TERM.DEBT Bonds payable - Note B $ 420,000.00 Less current maturities shown above ! 55,000.00 365,004.00 SURPLUS Invested in fixed assets: Direct $1,312,610.63 Revaluation of fixed assets - Note A 22,557.66 Contributed by special assessments - Note A 14,688,079.41 Contributed by General Fund ! 10,926.89 $6,034,174.59 Appropriated for debt service 78,552.50 Unappropriated I I 1 545,373.55 6,658,100.64 i I j i $7,105,837.83 See notes to balance sheet. 1 I I II i i ' -74- WATERWORKS FUND NOTES TO BALANCE SHEET VILLAGE OF EDINA December 31, 1972 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. Watermains for which the benefited property owners have been assessed are carried on the basis of construction cost with contra - credit to surplus contri- buted by special assessments. Each of the aforementioned amounts has been re- duced by the depreciation 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: Annual maturities and interest dates Interest rates 1959 Issue March 1 and September 1 3.50% 1963 Issue Total June 1 and December 1 3.00 %, 3.20% and 3.30% - Annual amount of maturities: 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 50,000.00 1979 50,000.00 50,000.00 1980 50,000.00 50,000.00 TOTAL $110,000.00 $310,000.00 $420,000.00 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. -75- WATERWORKS FUND STATEMENT OF SURPLUS VILLAGE OF EDINA Year Ended December 31, 1972 Total Unappropriated Appropriated for Debt Service Balance at January 1, 1972 $6,460,957.45 $419,722.06 $80,683.75 Additions: Watermains contributed by special assessments 220,764.26 Assets contributed by General Fund 1,100.00 $6,682,821.71 $419,722.06 $80,683.75 Deductions: Net loss for year ( 24,391.07) ( 24,391.07) Disposal of assets contributed by General Fund ( 330.00) Transfers in (out): Provision for depreciation - 221,869.22 Bonds retired - ( 55,000.00) Additions to fixed assets - ( 18,957.91) Decrease in appropriation of funds for reserve for debt retirement - 2,131.25 ( 2,131.25) Balance at December 31, 1972 $6,658,100.64. $545,373.55 $78,552.50 Invested in Fixed Assets Contributed Contributed Revaluation by Special by of Fixed Direct Assessments General Fund Assets $1,342,753.76 $4,583,589.74; $10,968.50 $23,239.64 220,764.261 1,100.00 $1,342,753.76 $4,804,354.00 $123068.50 $23,239.64 ( 330.00) ( 104,101.04) ( 116,274.59) ( 811.611 ( 681.98) 55,000.00 18,957.91 i $1,312,610.63 $4,688,079.41 $10,926.89 $22,557.66 WATERWORKS FUND STATEMENT OF INCOME AND EXPENSE VILLAGE OF EDINA -77- Per Cent to Year Ended December 31 Increase Gross Income 1972 1971 Decrease* 1972 1971 Number of meters in use: At end of year 10,004 9,734 270 At beginning of year 9,734 9,431 303 Operating income: Sale of meters $ 23,516.00 $ 24,059.00 $ 543.00* Less cost of meters sold 18,862.00 20,402.00 1,540.00* $ 4,654.00 $ 3,657.00 $ 997.00 Water sales 419,101.00 463,490.00 44,389.00* Penalties 7,639.00 8,294.00 655.00* Water connection permits 1,749.00 1,582.00 167.00 Tapping fees 61.00 122.00 61.00* Use of hydrants 14,162.00 13,740.00 422.00 Miscellaneous 1,248.93 1,365.91 116.98* $448,614.93 $492,250.91 $43,635.98* 100.00% 100.00% Expenses: Pumping: Labor $ 11,935.00 $ 12,417.00 $ 482.00* Power and light 49,246.00 50,891.00 1,645.00* Supplies and repairs 10,807.00 5,932.00 4,875.00 Buildings: Labor 3,612.00 2,605.00 1,007.00 Fuel 3,763.00 2,913.00 850.00 Supplies 1,793.00 4,024.00 2,231.00* Repairs 173.00 37.00 136.00 Insurance 1,235.00 936.00 299.00 Water purchased 17,242.00 20,807.00 3,565.00* Provision for depreciation 38,094.00 35,495.00 2,599.00 $137,900.00 $136,057.00 $ 1,843.00 30.73% 27.64% Distribution: Labor $ 19,542.00 $ 15,659.00 $ 3,883.00 Materials and supplies 6,531.00 9,542.00 3,011.00* Operation of meters: Labor 17,432.00 14,971.00 2,461.00 Supplies and expenses 2,441.00 2,555.00 114.00* Provision for depreciation 123,524.00 119,306.00 4,218.00 Repairs 9,049.00 13,247.00 4,198.00* $178,519.00 $175,280.00 $ 3,239.00 39.79 35.61 Tanks, towers and reservoir: Labor $ 1,900.00 $ 3,760.00 $ 1,860.00* Power and lease lines 1,276.00 1,510.00 234.00* Supplies and expenses 2,267.00 436.00 1,831.00 Provision for depreciation 38,623.00 30,648.00 7,975.00 Insurance 1,358.00 664.00 694.00 $ 45,424.00 $ 37,018.00 $ 8,406.00 10.12 7.52 -77- 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, hospitaliza- tion, etc. Supervision Provision for depreciation Professional services Supplies and expenses Building rental TOTAL EXPENSES OPERATING INCOME (LOSS) Income on investments Other deductions: Interest on bonds. Fiscal agent service charge NET INCOME (LOSS) Depreciation, computed by the straight line .method charged to operations WATERWORKS FUND STATEMENT OF INCOME AND EXPENSE (Co nt'd) -78- Per Cent to Year Ended December 31 Increase Gross Income 1972 1971 Decrease* 1972 .1971 $ 6,319.00 $ 4,485.00 $ 1,834.00 18,472.00 17,701.00 .771.00 .19,298.00 19,189.00 109.00 $'44,089.00 $ 41,375.00 $ 2,714.00 9.83% 8.41% $ 9,120.00 $ 7,980.00 $ 1,140.00 1,524.00 1,726.00 202.00* 2.38 1.97 $ 10,644.00 $ 9,706.00 $ 938.00 $ 13,590.00 $ 12,840.00 $ 750.00 3,905.00 4,104.00 199.00* 13,405.00 12,619.00 786.00 159.00 178.00 14,640.00 13,260.00 1,380.00 4,140.00 3,F00.00 540.00 806.00 875.00 69.00* 6,241.00 5,176.00 1,065.00 1,122.00 728.00 394.00 960.00 840.00 120.00 $ 58,968.00 $ 54,220.00 $ 4,748.00 13.15 11.01 $475,544.00 $453,656.00 $21,888.00 106.00% ..92.16% ($ 26,929.07) $ 38,594.91 $65,523.98* ( 6.007.) 7.84% 17,826.00. 19,777.00 1,951.00* 3.97 4.02 ($ 9,103.07) $ 58,3.71.91 $67,474.98* ( 2.03 %) 11.86% $ 15,207.00 $ 17,008.00 $ 1,801.00* 81.00 72.00 9.00 $ 15,288.00 $ 17,080.00 $ 1,792.00* 3.41 3.47 ($ 24,391.07) $ 41,291.91 $65,682.98* ( .5.44 %) 8.39% $221,869.00 $207,239.00 $14,630.00 -78- WATERWORKS FUND ANALYSIS OF CHANGE IN CASH BALANCE VILLAGE OF EDINA Year Ended December 31,.1972 Balance at January,1,.1972 Additions: Collections on.accounts receivable Collections on amounts due from other funds Sale of water meters Income on investments Sundry sales and services Deductions: Payment to fiscal agent: Principal Interest Service charge Meters purchased Investments purchased Increase in prepaid insurance Additions to fixed assets Less amount contributed Operating expenses Less provision for depreciation not requiring cash Decrease in amounts payable: Balance at January 1,.1972: Trade accounts Accrued payroll Due to other funds $ 55,000.00 15,665.00 81.00 $452,582.98 13,740.30 23,516.00 17,826.00 3,429.89 $ 70,746.00 .15,957.86 145,107.45 874.00 $240,822.17 221,864.26 18,957.91 $475,544.00 221,869.00 253,675.00 $ 9,051.15 .1,812.20 70,878.73 $ 81,742.08 $321,300.77 511,095.17 $832,395.94 Balance at December 31, 1972: Trade accounts $ 23,348.22 Accrued payroll 2,273.14 25,621.36 56,120.72 Payment of sales tax 16,184.00 Refunds 17.38 577,640.32 Balance at December 31,.1972 $254,755.62 Summary: Sinking Fund $ 9,712.50 Operating Fund 245,043.12 $254,755.62 -79- WATERWORKS FUND FIXED ASSETS VILLAGE OF EDINA Year Ended December 31, 1972 Land Land improvements Distribution system: Purchased Contributed by special assessments Contributed by General Fund Buildings and equipment: Pump houses Wells Pumps and piping Tanks, towers and reservoir Office equipment Miscellaneous equipment Water treatment equipment Automobiles and trucks Storm sewer Tolls Balance January 1, 1972 $ 27,556.38 19,723.72 $ 338,467.94 5,703,790.11 16,380.66 $6,058,638.71 $ 394,023.71 353,519.24 181,798.28 965,579.02 3,453.05 11,918.74 449,585.66 9,884.93 57,318.69 350.00 $2,427,431.32 TOTAL $8,533,350.13 A s i I Additions I i $ 1,142.24 $ 15,253.00 220,764.26 $236,017.26 $ 3,662.67 $ 3,662.67 I $240,822.17 s e t s Deductions $2,383.00 $2,383.00 $2,383.00 Balance December 31, 1972 $ 27,556.38 20,865.96 $ 353,720.94 5,924,554.37 16,380.66 $6,294,655.97 $ 394,023.71 353,519.24 181,798.28 965,579.02 3,453.05 11,918.74 449,585.66 11,164.60 57,318.69 350.00 $2,428,710.99 $8,771,789.30 Allowance for Devreciation Balance Balance January,l, December 31, 1972 Additions Deductions 1972 6,888.65 $ 129,681.601 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 10,481.06 145,879.911 6,369.82 10,018.29 $ 835,021171! I $2,097,798.49; $ 818.36 $ 6,921.87 116,274.59 $ 15,760.94 13,890.38 7,624.70 38,622.53 42.17 764.60 18,151.54 1,523.56 1,146.37 T f - $221,869.22 $2,053.00 $2,053.00 $2,053.00 7,707.01 $ 136,603.47 .1,236,474.96 6.333.77 $1,379,412.20 $ 130,320.49 148,202.50 97,321.00 359,048.54 3,320.82 11,245.66 164,031.45 5,840.38 . 11,164.66 $ 930,495.50 $2,317,614.71 :1 SEWER RENTAL FUND BALANCE SHEET VILLAGE OF EDINA December 31, 1972 ASSETS Cash on deposit (deficit) Receivables: From .customers Assessments:receivable Due from other funds Prepaid insurance Fixed assets: Land improvements Sewer mains and.lift stations Furniture and fixtures Trucks . Equipment and machinery Less allowances.for depreciation $ 105,821.46 625.45 2,564.40 ($ 238,883.90) 109,011.31 63.00 TOTAL CURRENT ASSETS ($ 129,809.59) $ 5,269.45 8,947,838.39 2,161.69 8,883.68 42,572.70 $9,006,725.91 1,207.,681.67 7,799,044.24 .$7,669,234.65 LIABILITIES . AND SURPLUS Current liabilities: Trade accounts payable Accrued payroll Surplus: Invested in fixed assets: Direct Contributed by special assessments Unappropriated (deficit) See note to statement of .surplus. $ 3,148.68 1,441.84 TOTAL CURRENT LIABILITIES $ 4,590.52 $ .19,969.09 7,779,075.15 7,799,044.24 ( 134,400.11) $7,669,234.65 -81- SEWER RENTAL FUND STATEMENT OF SURPLUS VILLAGE OF EDINA Year Ended December 31, 1972 Balance (deficit) at January 1, 1972 Additions: Sewer mains and lift stations contributed by special assessments - Note Net income for year Invested in Fixed Assets Unappropriated Contributed Surplus by Special (Deficit) Direct Assessments ($258,045.50) $24,587.79 $ - 8,947,838.39 29,548.31 ($228,497.19) $24,587.79 $8,947,838.39 Deduction: Allowances for depreciation on sewer mains and lift stations contributed by special - assessments in prior years - Note 1,079,284.86 ($228,497.19) $24,587.79 $7,868,553.53 Transfers in (out): Provision for depreciation 94,291.09 ( 4,812.71) ( 89,478.38) Additions to fixed assets ( 194.01): 194.01 Balance (deficit) at December 31, 1972 ($1342400.11) $19,969.09 $7,779,075.15 Note - In 1972 the Village began capitalizing the cost of sewer mains and lift stations which are paid for by special assessment of the benefited property owners. As a result, Surplus Invested in Fixed Assets - Contributed by Special Assessment has. been increased by the cost of sewer and lift stations completed and assessed in prior years (1939 through 1971) totaling $8,786,896.37 and reduced by related allowance for depreciation of $1,079,284.86. -82- SEWER RENTAL FUND STATEMENT OF INCOME AND EXPENSE VILLAGE OF EDINA Year Ended December 31 1972 1971 Operating income: Service charges and penalties $597,172.00 $158,736.00 Per Cent to Increase Operating Income Decrease* 1972 1971 $438,436.00 100.0% 100.0% Expenses: Operating: Sewer maintenance and treatment $360,582.00 $131,300.00 $229,282.00 Labor 51,984.00 52,086.00 102.00* Supplies 11,521.00 11,948.00 427.00* Repairs 12,023.00 14,572.00 2,549.00* Water 100.00 300.00 200.00* Power 8,483,.00 9,587.00 1,104.00* Provision for depreciation 92,469.00 2,218.00 901251.00 Other 919.00 748.00 171.00 $538,081.00 $222,759.00 $315,322.00 Vehicle operation: Allocated from equipment pool $ 6,840.00 $ 5,880.00 $ 960.00 Provision for depreciation 1,777.00 1,777.00 - $ 8,617.00 $ 7,657.00 $ 960.00 Administrative and general: Clerical and supervision $ 6,748.00 $ 5,256.00 $ 1,492.00 Audit 1,100.00 900.00 200.00 Supplies, telephone, postage, hospitalization and retirement 9,929.00 9,994.00 65.00* Building rental 900.00 780.00 120.00 Provision for depreciation 45.00 46.00 1.00* Professional services 4,841.00 18,073.00 13,232.00* ,$ 23,563.00 $ 35,049.00 $ 11,486.00* TOTAL EXPENSES $570,261.00 $265,465.00 $304,796_.00 OPERATING INCOME (LOSS) $ 26,911.00 ($106,729.00) $133,640.00 Other income: Income on investments $ - $ 2,111.00 $ 2,111.00* Miscellaneous 73.31 2,027.78 1,954.47* Transfer from Joint Sewer District No. 1 Fund 2,564.00 - 2,564.00 $ .2,637.31 $ 4,138.78 $ 1,501.47* NET INCOME (LOSS) $ 29,548.31 ($102,590.22) $132,138.53 Depreciation computed by the straight line method charged to operations $ 94,291.00 $ 41041.00 $ 90,250.00 90.1% 140.3% 1.4 4.8 4.0 22.1 95.5% 167.2% 4.5% ( 67.2 %) .4 2.6 4.9% ( 64.6 %) -83- SEWER RENTAL FUND ANALYSIS OF CHANGE IN CASH BALANCE VILLAGE OF EDINA Year Ended December 31, 1972 Balance (deficit) at January 1, 1972 Additions: .Collections on accounts receivable Tax settlements received Increase in liabilities: Balance at December 31, 1972: Trade accounts Accrued payroll Balance at January 1, 1972: Trade accounts Accrued payroll Other Deductions: Expenses for the year Less provision for depreciation not requiring cash Purchase of.fixed assets Increase in prepaid insurance Other $ 3,148.68 1,441.84 $ 4,590.52 $2,366.17 1,326.99 3,693.16 $570,261.00 94,291.09 $520,543.20 132.71 897.36 7 '] 7 l $475,969.91 194.01 63.00 10.07 Balance (deficit) at December 31, 1972 ($284,293.49) 521,646.58 $237,353.09 476,236.99 ($238,883.90) -84- SEWER RENTAL FUND FIXED ASSETS VILLAGE OF EDINA Year Ended December 31, 1972 Land improvements Sewer mains and lift stations: Contributed by special assessments - see Note to Statement of Surplus Furniture and fixtures Trucks Equipment and machinery Summary: Additions from prior years Additions for 1972 A s s e t s Balance Balance January 1, December 31, 1972 Additions 1972 $ 5,075.44 $ 194.01 $ 5,269.45 2,161.69 8,883.68 42,572.70 $58,693.51 8,947,838.39 $8,948,032.40 $8,786,896.37 161,136.03 $8,948,032,40 8,947,838.39 2,161.69 8,883.68 42.572.70 $9,006,725.91 Allowances for Depreciation Balance ; Balance January 1, December 31, 1972 Additions 1972 $ 1',970.91 $ 206.88 $ 2,177.79 I 1,168,763.24 1,987.32 44.52 4,687.31 1,776.74 1 25,460.18 2,784..57 $34,105.72 $1,173,575.95 $1,079,284.86 94,291.09 $1,173,575.95 1,168-,763.24 2,031.84 6,464.05 28.244.75 $1,207,681.67 -85- LIQUOR DISPENSARY FUND BALANCE SHEET VILLAGE OF EDINA December 31, 1972 ASSETS Current assets: Cash: Demand deposits (deficit) Deposits in transit Working funds Investments - at cost which approximates market: Village of Edina - Waterworks Revenue Bonds of 1959 Accrued interest United States Treasury notes Receivables: Due from other funds Miscellaneous. Merchandise inventory at:the lower: of cost.(first- .in,.first -out method) or market: Liquor Wine Beer Mix and miscellaneous Prepaid expenses: Unexpired insurance Supply inventory Loans to other funds: Golf course Recreation Center Fund (arena) Fixed assets on.the basis of cost: Land Land improvements Buildings Furniture, fixtures and equipment Leasehold improvements Less allowances for depreciation and amortization Construction in progress ($ 26,424.14) 47,944.63 $ 21,520.49 3,000.00 $ 24,520.49 $ 16,987.41 198.43 $.172185.84 50,924.58 68,110.42 $:18,775.00 2,089.19 20,864.19 $421,870.82 62,992.56 9,635.40 3,268.14 497,766.92 $ 2,191.32 400.00 2,591.32 TOTAL CURRENT ASSETS $ 613,853.34 $245,000.00 $1,557,178.45 170,000.00 415,000.00 $151,448.85 $ 172739.38 .165,331.92 46,647.74 .31,208.29 $260,927.33 146,750.40 .114,176.93 $265,625.78 262,699.33 528,325.11 $1,557,178.45 Current liabilities: Trade accounts payable Salaries and wages Surplus: Invested in.fixed assets Unappropriated LIQUOR DISPENSARY FUND BALANCE SHEET (Cont'd) LIABILITIES AND SURPLUS $ 146-, 322.07 6,650.44 TOTAL CURRENT LIABILITIES $ 152,972.51 $5282325.11 875,880.83 1,4043205.94 0 $1,557,178.45 -87- LIQUOR DISPENSARY FUND STATEMENT OF SURPLUS VILLAGE OF EDINA Year Ended December 31,.1972 Balance at January.l, 1972 Additions: Net income for year Deductions: Transfer to General Fund Transfer to Park Fund Transfer to Park Construction Fund Transfers: Provision for depreciation Additions to;fixed assets - net Balance at December 31, 1972 (_) Indicates deduction. Invested in Total Available Fixed Assets $1,239,159.93 $ 974,245.35 $264,914.58 440,046.01 $1,679,205.94 $ 542155.00 .140,845.00 80,000.00 $ :275,000.00 $1,404,205.94 $1,404,205.94 440,046.01 $1,414,291.36 $264,914.58 $ 54,155.00 .140,845.00 80,000.00 $ 275,000.00 $ - $1,139,291.36 $264,914.58 10,999.67 ( .10,999.67) ( 274,410.20) 2743410.20 $ 875,880.83 $528,325.11 Sales: Liquor Wine Beer Mix and miscellaneous Less bottle refunds Cost of sales: Inventory at January 1 Purchases Inventory at December 31 Operating expenses: Selling Occupancy Administrative Other income: Cash discount Cash over or (under) Other Income on investments LIQUOR DISPENSARY FUND STATEMENT OF INCOME AND EXPENSE i I VILLAGE OF EDINA I; 1 Year Ended December -I 1 9 7 2 1 NET SALES GROSS MARGIN 50th Street $ 771,694.00 201,147.00 198,574.00 23,140.00 $1,194,555.00 6,738.00 $1,187,817.00 $ 140,553.18 954,664.38 $1,095,217.56 194,915.56 $ 900,302.00 $ 287,515.00 $ 54081.00 16,492.00 23,899.00 TOTAL OPERATING EXPENSES $ 94,772.00 OPERATING INCOME $ 1922743.00 Depreciation and amortization included in expense 5,778.00 13.00 410.88 $ 198,944.88 5outnaa Le $4464957.00 132,051.00 76,052.00 12,454.00 $667,514.00 968.00 $666,546.00 $129,923.02 514,819.28 $644,742.30 143,097.30 $501,645.00 $164,901.00 $585,615.00 140,243.00 112,546.00 18,282.00 $856,686.00 2.045.00 $854,641.00 $122,557.94 697.661.12 $820,219.06 159,754.06 $660,465.00 $194,176.00 $ 3431075.00 $ 35,322.00 1 23.,136.00 11,873.00 22,440.00. 21,404.00 $ 79,651.00 $ 68,599.00 $ 85,250.00 $125,577.00 i 4 331171.00 4,445.00 ( 54.00) ( 81.00)1 230.50 295.63 f' $ 88,597.50 $130,236.63 , NET INCOME, $ 4,700.00 $ 562.00 $ 5,738.00 Total $1,804,266.00 473,441.00 387,172.00 53 876.00 2,718,755.00 9,751.00 $2,709,004.00 $ 3932034.14 2,167,144.78 $2,560,178.92 497,766.92 $22062,412.00 $ 646,592.00 $ 1232778.00 51,501.00 67.743.00 $ 243,022.00 $ 403,570.00 1971 Total $1,797,260.00 439,086.00 370,589.00 59 167.00 2,666,102.00 8.851.00 $24657,251.00 $ 371,918.48 2,043,319.66 $2,415,238.14 393.034.14 $2,022;204.00 $ 635,047.00 $ 118,106.00 48,958.00 64,507.00 $ 231,571.00 $ 403,476.00 Increase $ 7,006.00 34,355.00 .16,583.00 5 291.00* 52,653.00 900.00 $.51,753.00 $ 2131115.66 123,825.12 $144,940.78 104.732.78 $ 402208.00 $ 11,545.00 $ 5,672.00 2,543.00 3,236.00 $ 11,451.00 $ 94.00 l Per Cent to Net Sales 1 9 7 2 .50th South- Grand- 1971 Street dale view Total Total I 100.00% i I 75.79 24.21% 100.00% 100.00% 100.00% .100.00% 75.26 24.74% 4.58% .5.11% 1.39 3.47 2.01 3.37 4.13% .11.95% 116.23% 12.79% 13094.00 13,005.00 389.00 .49 122,00) ( 14.00) ( 108.00) 937.01 797.48 139.53 .03 $ 417,779.01 $ 417,264.48 $ 514.53 16.75% 22,267.00 30,992.00 8,725.00* $ 440,046.01 $ 448,256.48 $ 8,210.47* $ 11,000.00 $. 12,317.00 $ .1,317.00* .48 ( .O1) .03 13.29% 77.28 76.13 22.72%. 23.87% 4.13% 4.57% 1.39 1.90 2.51 2.50 .8.03% 8.97% 14.69% 14.90% 76.10 23.90% 4.45% 1.84 2.43 8.72% 15.18% .52 .49 .49 .03 .03 .03 15.24% 15.42% 15.70% -89- 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 service Miscellaneous Water and sewer service Interest on special assessments Administrative: Salaries and wages Supplies Professional services Allocated expenses - retirement, insurance, office supplies, etc. Mileage Miscellaneous Conference and schools Year Ended ;December 31 1 9 7 2 1 9 7 1 50th I 50th Street Southdale Grandview Total Street Southdale Grandview Total I i $51,987.00 $31,919.00 $33,773.00 $117,679.00 $49,486.00 $30,265.00 $31,499.00 $111,250.001 1,961.00 1,282.00 1,117.00 4,360.00 167.00* 2,235.00 1,461.00 1,554.00 5,250.00 99.00 54.00 54.00 207.00 51.00* 64.00 54.00 54.00 172.00 12.00 351.00 445.00* 351.00 3.00 720.00* 307.00 307.00 60.00 60.00 104.00 224.00 3,542.00 169.00 143.00 143.00 455.00 274.00 409.00 274.00 957.00 224.00 224.00 224.00 672.00 $54,381.00 $34,075.00 $35,322.00 $123,778.00 I $52,178.00 $32,454.00 $33,474.00 $118,106.00 $ 182.00 $ 84.00 $ 47.00 $ 313.00 ! $ 490.00 $. 19.00 $ 71.00 $ 580.00 18,903.00 18,903.00 ! 17,243.00 17,243.00 431.00 358.00 361.00 1,150.00 335.00 276.00 253.00 864.00 92.00 14.00 106.00 451.00 360.00 571.00 1,382.00 2,017.00 1,023.00 1,701.00 4,741.00 1,797.00 1,2.51.00 1,588.00 4,636.00 642.00 86.00 510.00 1,238.00 809.00 92.00 523.00 1,424.00, 418.00 230.00 451.00 1,099.00 373.00 430.00 803.00 567.00 226.00 367.00 1,160..00 1 762.00 277.00 405.00 1,444.00 200.00 108.00 308.00 190.00 96.00 286.00 1,342.00 844.00 1,542.00 3,728.00 j .1,787.00 11122.00 1,539.00 4,448.00 .320.00 320.00. 125.00 125.00 4,203.00 36.00 4,239.00 261.00 436.00 697.00 42700.00 562.00 5,738.00 11,000.00 1 4,589.00 626.00 7,102.00 122317.00 480.00 300.00 480.00. 1,260.00 480.00 300.00 480.00 1,260.00 950.00 30.00 110.00 1,090.00 ; 900.00 16 "5.00 1,065.00 55.00 37.00 92.00 1 18.00 12.00 30.00 71.00 30.00 101.00 1 63.00 44.00.. 17.00 .124.00 289.00 343.00 21.00 653.00 230.00 230.00 $16,492.00 $23,136.00 $11,873.00 $ 51,501.00 i $13,642.00 $21,628.00 $13,688.00 $ 48,958.00 $15,,481.00 $15,709.00 $152497.00 $ 46,687.00 $141298.00 $14,621.00 $14,302.00 $,43,221.00 121.00 136.00 233.00 490.00 282.00 256.00 215.00 753.00 13168.00 1,258.00 12168.00 3,594.00 i .19476.00 1,567.00 1,375.00 43418.00 6,540.00 4,560.00 4,140.00 15,240.00 611180.00 4,080.00 4;680.00 14,940.00, 200.00 200.00 200.00 600.00 i 100.00 100.00 100.00 300.00, 166.00 394.00 64.00 624.00 406.00 332.00 137.00 875.00 223.00 183.00 102.00 508.00 - $23,899.00 $22,440.00 $21,404.00 $ 67,743.00 $22,742.00 $20,956.00 $20,809.00 $ 64,507.00 TOTAL $94,772.00 $79,651.00 $682599.00 $2433022.00 ! I $88,562.00 $75,038.00 $67,971.00 $231,571.001 Increase - Decrease* 50th Street Southdale Grandview Total $2,501.00 $1,654.00 $2,274.00 $ 6,429.00 274.00* 1.79.00* 437.00* 890.00* 35.00 35.00 44.00 44.00 109.00* 83.00* 39.00* .231.00* 50.00 185.00 50.00 285.00 $2.,203.00 $1,621.00 $1,848.00 $ 5,672.00 $ 308.00* $ 65.00 $ 24.00* $ 267.00* 161.00* 1,660.00 18.00 1,660.00 96.00 82.00 108.00 .286.00 451.00* 268.00* 557.00* 1,276.00* 220.00 228.00* 113.00 105.00 167.00* 6.00* 13.00* 186.00* 45.00 230.00 21.00 296.00 195.00* 51.00* 38.00* 284.00* 10.00 12.00 22.00 445.00* 278.00* 3.00 720.00* 125.00* 320.00 195.00 3,942.00 400.00* 3,542.00 111.00 64.00* 111364.00* 1$17.00* 50.00 30.00 55.00* 25.00 37.00 25.00 62.00 8.00 44.00* 13.00 23.00* 59.00 343.00 21.00 423.00 $29850.00 $1,508.00 $1,815.00* $ 2,543.00 $13183.00 $1,088.00 $19195.00 $ 3,466.00 161.00* 120.00* 18.00 263.00* 308.00* 309.00* 207.00* 824.00* 360.00 480.00 540.00* 300.00 100.00 100.00 100.00 300.00 240.00* 62.00 73.00* 251.00* 223.00 183.00 102.00 508.00 $1,157.00 $1,484.00 $ 595.00 $ 3,236.00 $6,210.00 $4,613.00 $ 628.00 $11,451.00 -90- LIQUOR DISPENSARY FUND . ANALYSIS OF CHANGE IN CASH BALANCE VILLAGE OF EDINA Year Ended December 31, 1972 Balance at January 1, 1972 Additions: Gross sales Cash.di:scounts Interest received on investments Payment received on accrual-at December 31, 1971 Decrease in prepaid insurance Other revenue Increase in liabilities: Balance at December 31, 1972: Trade accounts Accrued payroll Balance at January 1, 1972: Trade accounts $56,517.49 Accrued payroll 5,005.65 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 accounts receivable $2,7182755.00 13,394.00 3,471.00 18,775.00 421.67 814.70 $146,322.07 6,650.44 $152,972.51 61,523.14 91,449.37 $2,167,144.78 9,751.00 $243,022.00 11,000.00 232,022.00 $ 54,155.00 140,845.00 $ 134,856.92 2,847,080.74 $2,981,937.66 80,000.00 275,000.00 274,410.20 2,089.19 2,960,417.17 Balance at December 31, 1972 $ 21,520.49 -91- LIQUOR DISPENSARY FUND FIXED ASSETS VILLAGE OF EDINA Year Ended December 31, 1972 -92- Balance Balance January 1, December 31, 1972 Additions. 1972 ASSETS Land $148,688.50 $ 2,760.35 $151,448.85 Land improvements 8,788.86 8,950.52 17,739.38 Buildings 165,331.92 165,331.92 Furniture, fixtures and equipment 46,647.74 46,647.74 Leasehold improvements 31,208.29 31,208.29 $4009665.31 $ 11,710.87 $4122376.18 ALLOWANCE FOR DEPRECIATION AND AMORTIZATION Land.improvements $ 2,230.00 $ 533.95 $ 2,763.95 Buildings 69,471.61 7,500.73 76,972.34 Furniture, fixtures and equipment 35,421.04 2,661.43 38,082.47 Leasehold improvements 28,628.08 303.56 28,931.64 $135,750.73 $ 10,999.67 $146,750.40 $264,914.58 $ 711.20 $265,625.78 Construction in progress - 262,699.33 262,699.33 NET BALANCE $264,914.58 $263,410.53 $528,325.11 -92- CASH - ALL FUNDS VILLAGE OF EDINA December 31, 1972 Fund: General: Current Auto license account Revenue Sharing - current 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 Southwest Fidelity Bank Americana State Bank Working funds ( ) Indicates deficit in cash balance. TOTAL $1,459,163.85 $4,602.00 $1,463,765.85 $ 278,721.90 55,441.95 $ 334,163.85 $ 725,000.00 200,000.00 100,000.00 100.000.00 $1,125,000.00 4,602.00 $1,463,765.85 -93- Demand and Working Time Deposits Funds Total $ 642,749.72 $ 550.00 $ 643,299.72 221,031.19 221,031.19 $ 863,780.91 $ 550.00 $ 864,330.91 1,680.67 1,680.67 3,352.47 3,352.47 15,603.08 15,603.08 ( 6,508.31) ( 6,508.31) 53,114.86 52.00 53,166.86 3,849.68 1,000.00 4,849.68 1005125.85 100,125.85 ( 111,110.01) ( 111,.110.01) ( 11,894.19) ( 11,894.19) $ 443,064.35 $ 443,064.35 39,749.51 395749.51 26,962.77 26,962.77 $ 509,776.63 $ - $ 509,776.63 $ 245,043.12 $ 245,043.12 9,712.50 9,712.50 $. 254,755.62 $ - $ 254,755.62 ( 238,883.90) ( 238,883.90) 21.520.49 3.000.00 24.520.49 TOTAL $1,459,163.85 $4,602.00 $1,463,765.85 $ 278,721.90 55,441.95 $ 334,163.85 $ 725,000.00 200,000.00 100,000.00 100.000.00 $1,125,000.00 4,602.00 $1,463,765.85 -93- SECURITY FOR DEPOSITS ,VILLAGE OF EDINA December 31, 1972 First Edina National Bank - demand deposit do - certificates of deposit First Southdale National Bank — demand deposit do - certificates of deposit Southwest Fidelity State Bank - certificate of deposit Americana State Bank - certificate of deposit Deposits Book Bank $ 278,721.90 $ 411,984.43 725,000.00 725,000.00 TOTAL $1,003,721.90 $1,136,984.43 $ 55,441.95 $ 81,138.03 200,000.00 200,000.00 TOTAL $ 255,441.95 $ 281,138.03 $ 100,000.00 $ 100,000.00 TOTAL $ 100,000.00 $ 100,000.00 $ 100,000.00 $ 100,000.00 TOTAL $ 100,000.00 $ 100,000.00 S e c u r i t y f o r D e p o s i t s Principal Amount Description Due Date $ 500,000.00 United States Treasury bond 250,000.00 United States Treasury note 1,000,000.00 do 20,000.00 Federal Deposit Insurance $1,770,000.00 $ 50,000.00 50,000.00 50,000.00 50,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 50,000.00 20,000.00 20,000.00 20,000.00 50,000.00 50,000.00 10,000.00 rI III Nee $ 620,000.00 $. 100,000.00 I 20,000.00 $. 120,000.00 $ 145,000.00 20,000.00 $ 165,000.00 North Shore Sanitary District, Illinois San Ramon, California, United School Dist., Serial A Sedro - Wooley, Washington School District #101 New Jersey Serial A. Turnpike White Bear Lake, Minnesota, I.S.D. #624 Eugene, Oregon Bancroft Improvement Willmar, Minnesota Refunding St. Louis Park, Minnesota Refunding Washington Motor Vehicle Fuel Tax Revenue Village of Edina. Recreation Center Bonds State of Hawaii Winona Special School District #5, Minnesota State of California Bonds Massachusetts Various Purpose I.S.D. #271 (Bloomington) Minnesota School Building Bond Columbia Heights, Minnesota I.S.D. #13 Village of Edina Recreation Center Bonds Suffolk County, New York Pontiac School District, Michigan Jt. Ind. Cons. Sch. Dist. #39 Ramsey County and #103 Washington County, Minnesota School Building Bonds Federal Deposit Insurance Federal Intermediate Credit Bank!Debenture Federal Deposit Insurance i United States Treasury note Federal Deposit Insurance May 15, 1974' August 15, 1974 November 15, 1978 January 11 1974 May 15, 1974 June 1, 1974 January 1,,1975 April 1, 1975 June 1, 1975 August 1, 1975 December .1, 1975 September 1, 1976 September 1, 1977 October 15, 1977 July 1, 1978 September 1, 1978 December 1, 1978 February 1, 1979 February 1, 1980 September 1, 1980 October 1, 1980 April 1, 1982 February 1, 1983 January . 2,1974 . February 15., 1976 MOL45 General Poor Golf Course Recreation Center Park Sinking Improvement Funds Waterworks Liquor Dispensary Revenue Sharing General Fund - land and miscellaneous investments Face Amount INVESTMENTS December 31, December 31, . 1972 1972 VILLAGE OF EDINA $ 750,000.00 20,000.00 19,909.33 30,000.00 December 31, 1972 40,000.00 39,932.010. 4,481,000.00 Description Maturity Interest Rate 67,000.00 Face Amount 80.000.00 79.637.33 United States Treasury notes February 15, 1975 5.75% $ 200,000.00 United States Treasury bills February 1, 1973 4.80 $ 400,000.00 do July 31, 1973 4.75 400,000.00 do August 28, 1973 5.35 100,000.00 Federal Intermediate Credit Bank $ 900,000.00 Debentures February 2, 1973 4.80 700,000.00 Federal Home Loan.Bank notes May 25, 1973 4.25 $ 300,000.00 do February 25, 1980 7.75 75,000.00 Federal National Mortgage $ 375,000.00 Association Secondary Market Debentures June 12, 1973 6.75 $ 350,000.00 do 'September 10, 1973 8.10 250,000.00 $ 600,000.00 Federal_Land Bank bonds October 23, 1973 5.80 $ 625,000.00 do July 20, 1976 5.38 200,000.00 $ 825,000.00 Village of Edina, Minnesota: 1972 Temporary Improvement Bonds December 15, 1975 3.50 $1,400,000.00 1971 Municipal State -Aid Bonds June 1, 1975 -1976 5.00 400,000.00 1970 Municipai.State -Aid Bonds June 1, 1974 6.00 225,000.00 1955 Improvement Bonds March 1, 1977 2.90 25,000.00 1957 Improvement Bonds March 1,.1974 -1979 3.90 31,000.00 1968 Improvement.Bonds December 1, 1978 4.00 15,000.00 1953 , Sanitary Sewer Bonds January 1, 1973 3.10 10,000.00 1963 Waterworks Revenue Bonds December 1, 1979 3.30 20,000.00 1958 Waterworks Revenue Bonds September 1, 1976 3.50 17,000.00 1963 Golf Course Bonds December 1, 1981 -1987 3.40 to 3.50 .15,000.00 $2,158,000.00 TOTAL. SECURITIES $5,758,000.00 FUND OWNERSHIP OF INVESTMENTS General Poor Golf Course Recreation Center Park Sinking Improvement Funds Waterworks Liquor Dispensary Revenue Sharing General Fund - land and miscellaneous investments Face Amount Carrying Amount December 31, December 31, . 1972 1972 $ 750,000.00 $ 750,000.00 20,000.00 19,909.33 30,000.00 27,660.95 15,000.00 14,932.00 40,000.00 39,932.010. 4,481,000.00 4,467,100.40 275,000.00 271,337.07 67,000.00 68,110.42 80.000.00 79.637.33 $5,758,000.00 $5,738,619.50 36.504.20 TOTAL INVESTMENTS $5,775,123.70 -95- TAXABLE VALUATIONS, TAX LEVIES AND RATES Taxable valuation: Real estate Personal property Tax levies extended: Extended in year Collectible in year General Parks Bonds and interest Poor and public nursing Firemen's relief Fire protection Tax rate by mills: General Parks Bonds and interest Poor and public nursing Firemen's relief Fire protection VILLAGE OF EDINA December 31 1972 1971 $279,328,717.00 $80,486,054.00 4,289,594.00 3,827,251.00 TOTAL $283,618,311.00 $84,313,305.00 1972 1971 1973 1972 $ 1,595,084.10 $ 1,488,972.97 187,088.30 171,156.01 71,366.51 71,666.31 17,344.05 17,705.79 5,117.92 5,058.80 14,500.76 14,333.26 TOTAL $ 1,890,501.64 $ 1,768,893.14 5.61 17.66 .66 2.03 .25 .85 .06 .21 .02 .06 .05 .17 TOTAL 6.65 20.98 As provided by state law real property taxable valuations for 1972 approximate market value. Previously real property taxable valuations were approximately 33 1/3% of market value. Position On file with Village Clerk: Blanket position Blanket position Treasurer Clerk Deputy Assessor Deputy Assessor Assessor OFFICIAL BONDS VILLAGE OF EDINA December 31, 1972 N a m e Police department employees All Village employees other than the Treasurer and police department employees J. N. Dalen Florence B. Hallberg Ronald A.,Blagen Ralph E. Johnson Kent Swanson Bond Expires February 28, 1973 February 28, 1973 February 28, 1973 February 28, 1973 February 28, 1973 Amount $ 5,000.00 $50,000.00 $50,000.00 $ 500.00 $ 500.00 I I $ 500.00 $ 500.00 Surety American Casualty Company American Casualty Company American Casualty Company American Casualty Company American Casualty Company American Casualty Company American Casualty Company -97- INSURANCE COVERAGE VILLAGE OF EDINA December 31, 1972 Other Fire and Extended Coverage Building Contents Building and contents (A): Village Hall $600,000 $ 85,000 Morningside municipal buildings 33,500 4,000 Village garage 490,000 40,000 Municipal liquor store - 50th Street 80,000 24,000 Municipal liquor store - Southdale 25,000 Municipal liquor store - Grandview 67,000 25,000 Municipal golf course club house 180,000 20,000 Municipal recreation center 490,000 120,000 Municipal recreation center - east addition 210,000 90,000 Municipal swimming .pool 225,000 Water reservoir 500,000 Parking ramp 350,000 Pumping stations (location): Wooddale 65,000 55,000 Halifax 25,000 20,000 Southview Lane 13,000 15,000 Southdale 17,000 15,000 Concord 54,000 77,000 Brookview Heights 20,000 15,000 Hansen Road 17,000 19,000 76th Street 75,000 110,000 2nd Street 75,000 110,000 6500 Dewey Hill Road 47,000 15,000 Sherwood 15,000 15,000 Mirror Lakes 51,000 15,000 Creek Valley 52,000 35,000 Pamela Park 75,000 20,000 Water tower - Concord Street 210,000 Water tower - 69th Street 320,000 Water tower - Creek Valley 380,000 Sanitary sewer lift station 65,000 40,000 Bathhouse 80,000 12,000 Maintenance building - golf course 8,500 3,000 Range building - golf course 3,000 5,000 Storage building .4,500 Dwelling - Olinger Road 13,000 Dwelling - West 70th Street 57,000 7,500 Grange building 12,000 Cahill School building 5,000 Gun range 44,000 6,000 Office and storage - 5106 Brookside 175,000 15,000 Dwelling - 5120 Brookside 50,000 2,500 Fire station - 6250 Tracy 300,000 15,000 Other Inventories (D): Liquor store.- Southdale Liquor store - 50th Street Liquor store — Grandview Dwellings: 4201 West 44th Street 7712 Xerxes 7716 Xerxes 7720 Xerxes Automotive: Bodily injury Property damage Comprehensive Village liquor stores: INSURANCE COVERAGE (Cont'd) Fire and Extended.Coverage Building Contents Other $ 20,000 16,500 29,100 33,000 $ 165,000 190,000 165,000 $250 / 500,000 100,000 $100 deductible Boiler - 50th Street 50,000 Boiler - Grandview 50,000 Business interruption - 50th Street 115,000 Business interruption - Southdale 90,000 Business interruption - Grandview 75,000 Burglary, robbery and theft — within premises 5,000(B) Burglary, robbery and theft - outside premises 5,000(B) Burglary, robbery and theft - merchandise (C) 7,500(B) Village golf course: Burglary, robbery and theft - within premises 5,000 Burglary, robbery and theft - outside premises 5,000 Boiler 50,000 Recreation center: Business interruption - main building 120,000 Business interruption - east addition 50,000 Burglary, robbery and theft - within premises 2,500 Burglary, robbery and theft - outside premises 2,500 Burglary, robbery and theft - merchandise (C) 2,500 Boiler 50,000 Other insurance: General liability: Automotive non - ownership, independent contractor, and Village premises - operations: Bodily injury 250 / 500,000 Property damage 100,000 Umbrella policy 2,000,000 INSURANCE COVERAGE ( Cont'd) Other insurance (cont'd): Workmen's compensation Property floater all risk - voting machines Property floater - equipment other than automotive Boiler Earthquake coverage - swimming pool and water reservoir (A) Liquor liability Other locations Note A - 90% coinsurance. Note B - 50th Street, Southdale and Grandview. Note C - 40% coinsurance. Note D - .Reporting form. Fire and Extended Coverage Building Contents Other Statutory $ 154,800 Actual cash value 50,000(E) 725,000 300,000 Note E — Administration building, municipal building, street department and golf course clubhouse. Note F - Fire and extended coverage, $5,000 other locations and $5,000 in transit. -100- (F) ORGANIZATION VILLAGE OF EDINA December 31, 1972 Village Council: Mayor: Arthur C. Bredesen, Jr. Councilmen: Te rm Expires December 31 1973 Elected, Re- elected or Re- appointed to December 31 James Van Valkenburg 1972 1976 Richard C. .Johnson 1974 C. Wayne Courtney 1972 1976 Willis F. Shaw 1974 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 Appointed by Council Appointed by Council -101-