HomeMy WebLinkAbout1973 Financial StatementsAUDITED FINANCIAL STATEMENTS
AND OTHER FINANCIAL INFORMATION
VILLAGE OF EDINA, MINNESOTA
DECEMBER 31, 1973
ERNST & ERNST
00000- -
AUDITED FINANCIAL STATEMENTS
AND OTHER FINANCIAL INFORMATION
VILLAGE OF EDINA, MINNESOTA
December 31, 1973
-- o60oo --
INDEX
ACCOUNTANTS' REPORT ON AUDITED FINANCIAL STATEMENTS........... PAGE 5
COMMENTS AND ACCOUNTANTS' REPORT ON OTHER FINANCIAL
INFORMATION................... ............................... 6
FUNDBALANCE SHEETS ............ ............................... 10
STATEMENTOF ACCOUNTING POLICIES .............................. 12
GENERAL FUND:
BALANCESHEET ................ ............................... 14
STATEMENTOF SURPLUS... .... ............................ 15
ANALYSIS OF CHANGE IN CASH BALANCE .......................... 16
REVENUES..................... ............................... 17
EXPENDITURES. ......................................... 18
CENTRAL SERVICES EXPENDITURES ............................... 22
FIXEDASSETS ................. ................6.............. 23
BONDSPAYABLE ................ ............................... 24
REVENUE SHARING FUND:
BALANCESHEET ................ ............................... 25
STATEMENT OF SURPLUS — UNAPPROPRIATED ....................... 26
STATEMENTOF EXPENDITURES .... ............................... 26
ANALYSIS OF CHANGE IN CASH BALANCE..... ............. o ....... 27
POOR FUND:
BALANCESHEET........... ...... ......... ................ 28
STATEMENT OF SURPLUS — UNAPPROPRIATED ....................... 29
STATEMENT OF REVENUES AND EXPENDITURES ...................... 29
ANALYSIS OF CHANGE IN CASH BALANCE .......................... 30
PARK FUND:
BALANCESHEET ................ ............................... 31
STATEMENTOF SURPLUS ......... ............................... 32
ANALYSIS OF CHANGE IN CASH BALANCE.... .................... 33
REVENUES AND EXPENDITURES .... ............................... 34
FIXED ASSETS ................................................. 35
SWIMMING POOL FUND:
BALANCESHEET ................ ............................... 36
STATEMENTOF SURPLUS ......... ............................... 37
ANALYSIS OF CHANGE IN CASH BALANCE .......................... 38
STATEMENTOF INOOME AND EXPENSE ............................. 39
STATEMENT OF INCOME AND EXPENSE (OONCESSIONS ONLY).......... 40
FIXEDASSETS ................. ............................... 41
GOLF COURSE FUND:
BALANCESHEET ................................................ 42
STATEMENTOF SURPLUS ......... ............................... 43
ANALYSIS OF CHANGE IN CASH BALANCE .......................... 44
STATEMENTOF INCOME AND EXPENSE ............................. 45
STATEMENT OF INCOME AND EXPENSE — OPERATING DEPARTMENTS..... 47
FIXEDASSETS ................. ............................... 48
BONDSPAYABLE ................ ............................... 49
INDEX (Cont'd)
RECREATION CENTER FUND:
BALANCESHEET ............................................... PAGE 50
STATEMENTOF SURPLUS ......... ............................... 51
ANALYSIS OF CHANGE IN CASH BALANCE .........................9 52
STATEMENT OF INCOME AND EXPENSE .............................. 53
FIXEDASSETS ................. ............................... 54
BONDSPAYABLE ................ ............................... 55
GUN RANGE FUND:
BALANCESHEET ................ ............................... 56
STATEMENTOF SURPLUS.. ........................... 57
STATEMENTOF INCOME AND EXPENSE ............................. 58
ANALYSIS OF CHANGE IN CASH BALANCE., .......... o ........... 59
FIXEDASSETS ................. ............................... 60
PARK SINKING FUND:
BALANCE SHEET ............................................... 61
STATEMENTOF SURPLUS ......... ............................... 62
ANALYSIS OF CHANGE IN CASH BALANCE .......................... 63
BOND AND INTEREST MATURITIES AND DEFERRED TAX LEVIES........ 64
PARK CONSTRUCTION FUND:
BALANCESHEET ................................................ 65
ANALYSIS OF RESERVE FOR CONSTRUCTION ........................ 66
ANALYSIS OF CHANGE IN CASH BALANCE .......................... 67
FIXEDASSETS ................. ............................... 68
IMPROVEMENT FUNDS:
COMBINED BALANCE SHEET ....... ............................... 69
STATEMENT OF SURPLUS - UNAPPROPRIATED ....................... 70
ANALYSIS OF CHANGE IN CASH BALANCE .......................... 71
BONDSPAYABLE ................ ............................... 73
WATERWORKS FUND:
BALANCESHEET ................ ............................... 74
NOTES TO BALANCE SHEET .. .... ..................... .I......... 75
STATEMENT OF SURPLUS ........................................ 76
STATEMENTOF INCOME AND EXPENSE ............................. 77
ANALYSIS OF CHANGE IN CASH BALANCE .......................... 79
FIXED ASSETS ................. ............................... 80
SEWER RENTAL FUND:
BALANCESHEET ................ ............................... 81
STATEMENT OF SURPLUS ................. 82
STATEMENT OF INCOME AND EXPENSE .................. 83
ANALYSIS OF CHANGE IN CASH BALANCE .......................... 84
FIXED ASSETS ................. ............................... 85
INDEX (Cont'd)
LIQUOR DISPENSARY FUND:
BALANCESHEET ............................................... PAGE 86
STATEMENT. OF SURPLUS ......................................... 87
STATEMENTOF INCOME AND EXPENSE ............................. 88
OPERATINGEXPENSES......... ............................... 89
ANALYSIS OF CHANGE IN CASH BALANCE .......................... 90
FIXED. ASSETS ................. ............................... 91
GENERAL:
CASH- ALL FUNDS .............. :'............................ 92
SECURITYFOR DEPOSITS ........ ............................... 93
INVESTMENTS.................. ............................... 95
TAXABLE VALUATIONS, TAX LEVIES AND RATES .................... 96
OFFICIALBONDS ............................................
INSURANCECOVERAGE ........... ............................... 98
ORGANIZATION....... ........... ............................... 101
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, 1973 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 position of the Village of Edina at December 31, 1973 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.
i
Minneapolis, Minnesota
June 14, 1974
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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 expen-
ditures or income and expense, and surplus and our report thereon are pre-
sented 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 examination of the aforementioned
financial statements and, in our opinion, it is fairly presented in all
material respects in relation to the financial statements taken as a whole;
however, it is not necessary for a fair presentation of.the financial
position, results of operations and changes in fund balances of the Village.
The information shown in the schedules of security for deposits,
taxable valuations, tax levies and rates, official bonds, insurance coverage,
and organization was prepared from information furnished to us by the Village,
but we did not make independent tests of the schedules as they do not involve
information which enters into the financial statements.
The following comments set forth certain auditing procedures and
other matters pertinent to our examination:
Cash on deposit at December 31, 1973 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, 1973 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 pro-
per authorization was provided for disbursements.
Securities held for investment by the several funds of the Village
were inspected by us or, in the case where securities were held in safekeeping,
confirmed to us. Related interest income computations were tested. The-mar-
ket value of investments approximates cost.
Amounts receivable from water and sewer rental charges at December 31,
1973 were tested by direct correspondence and by review of the records for
subsequent collections. Differences reported were not material and were
explained to our satisfaction.
-6-
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. Transac-
tions 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 from fixed assets accounts were reviewed
by us and verified by inspection of contracts, invoices or other data. Allow-
ance for depreciation 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 disbursements subsequent to December 31, 1973.
For all canceled bonds redeemed and paid during 1973, we inspected
canceled bonds or examined proof of payment to the bond paying agent. We
inspected interest coupons redeemed and paid during 1973 on a test basis.
Official minutes of the Village Council for 1973 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 loss of $8,366.25 is after the provision of $431.50 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 $31,136.98 is after the provision of $20,988.00 for interest on bonded
debt issued for the golf course facilities,-and the provision of $9,923.39
for depreciation on golf course equipment. $35,000.00 of the bonded debt
matured and was redeemed in 1973.
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 loss
of $12,728.01 is after the provision of $14,895.00 for interest on bonded
debt issued for the recreational center facilities and the provision of
$4,432.07 for depreciation on recreational center equipment. $40,000.00 of
bonded debt matured and was redeemed in 1973.
GUN RANGE FUND
The net loss of $2,759.60 is after the provision of $226.30 for
depreciation on gun range equipment.
PARK SINKING FUND
Bonded debt of $50,000.00, matured and was redeemed in 1973.
PARK CONSTRUCTION FUND
Fixed assets amounting to $194,239.00 were purchased during the
year and projects completed at a cost of $1,176.73 and $2,813.95 were trans-
ferred to the Gun Range Fund and Golf Course Fund, respectively. Funds were
made available from $802000.00 in transfers from the Liquor Dispensary Fund
and from a $74,424.00 state grant from the Office of Local and Urban Affairs.
WATERWORKS FUND
The net loss of $13,858.32 is after the provision of $13,335.00 for
interest on bonded debt issued for the waterworks facilities and the pro-
vision of $224,403.67 for depreciation on the facilities. $55,000.00 of the
bonded debt matured and was redeemed in 1973.
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 reductions in the Village's annual charge for
sewer treatment over the next 30 years.
The net income of the Sewer Rental Fund for 1972 was $53,900.92
after a provision for depreciation of $95,360.00.
LIQUOR DISPENSARY FUND
Net `income of $419,196.45 for the year is after the provision of
$17,409.00 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.
-8-
BONDING REQUIREMENTS
All Village employees who are required to be bonded by Minnesota
Statutes were so bonded.
PUBLICATION OF FINANCIAL STATEMENTS
A detailed financial statement was not prepared and published or
posted as required by M. S. A. Section 412.281.
Minneapolis, Minnesota
June 14, 1974
5111
Revenue
Total
General
Sharing
ASSETS
Cash-
Current funds (deficit)
$
3,106,691.55
$1,093,431.62
$290,084.40
Appropriated
9,406.25
$
3,116,097.80
$1,093,431.62
$290,084.40
Investments:
United States Treasury notes and
United States Governmental Agency
securities - at cost
$
1,475,924.58
Village of Edina bonds - at cost
1,784,524.13
$ 750,000.00
Land investment - at cost
35,508.70
35,508.70
Other
995.50
995.50
$
3,296,952.91
$ 786,504.20
$ -
Amount segregated and shown below
67,015.00
$
3,229,937.91
$ 786,504.20
$ -
Receivables:
Taxes and special assessments:
Current
$
1,458,043.31
$ 2,128.63
Delinquent
560,518.42
69,167.50
Deferred
6,120,447.85
1,847.76
Customers
247,747.84
Due from other funds
1,078,754.41
177,964.07
Due from State Aid Account -
State of Minnesota
250,000.00
Miscellaneous receivables
170,689.22
95,544.22
$ 46,145.00
$
9,886,201.05
$ 346,652.18
$ 46,145.00
Less allowance for delinquent and
uncollectible taxes
936,219.61
69,167.50
$
8,949,981.44
$ 277,484.68
$ 46,145.00
Inventories
581,614.91
10,000.00
Prepaid insurance
4,999.86
Segregated investments for reserve
for debt retirement
67,015.00
Construction''in progress
2,507,511.20
Fixed assets
23,492,824.07
3,134,444.89
Unallocated construction costs
169,214.41
$42,119,196.60
$5,301,865.39
$336,229.40
FUND BALANCE SHEETS
VILLAGE OF EDINA
December 31, 1973
Swimming Golf Recreation
Poor Park Pool 'Course Center
$17,877.77 $ 72,800.63 ($ 15,202.16) $ 60,196.52 ($128,863.73)
$17,877.77 $ 72,800.63 ($ 15,202.16) $ . 60,19.6.52 ($128,863.73)
$ 12,092.81
.1,500.00
274.00
$ .12,728.95
$ 12,728.95
$ 12,728.95
$ 24,260.38
12,000.00
$ $ 13,866.81 $ - $ - $ 36,260.38
12,092.81
$ - $ 1,774.00 $ - $ - $ 36,260.38
600.00 591.31
251.00 210.95 1,054.10
1,789,865.67
213,783.92
993,761.35
942,248.58
$17,877.77. $1,865,040.30
$198,832.76
$1,066,897.77
$851,290.64
Pa rk
4
Pa rk
Gun
Sewer
Liquor
Sinking
I Construction
Range
Improvement
Waterworks
Rental
Dispensary
$125,085.61
($
54,445.95)
($21,459.18)
$
1,183,011.46
!:$
518,210.09
($
94,372.04)
$
60,336.51
I
9,406.25
$125,085.61
($
54,445.95)
($21,459.18)
$
1,183,011.46
i$
527,616.34
($
94,372.04)
$
60,336.51
$ 25,000.00
$
1,275,000.00
$
125,000.00
$
50,924.58
�i
981,000.00
23,588.36
17,206.82
$ 25,000.00
$
2,256,000.00
;$
148,588.36
$
-
$
68,131.40
67,015.00
$ 25,000.00
$
$
$
2,256,000.00
$
81,573.36
$
-
$
68,131.40
$ 72,000.00
(
$
1,383,423.65
$
491.03
3,270.05
475,988.06
331,000.00
5,787,600.09
$
105,228.58
116,758.88
$
3,990.68
$ 476.00
435,366.82
1
14,728.84
$
433,954.00
250,000.00
.29,000.00
$406,270.05
$
32,990.68
$ 476.00
$
8,332,378.62
'.$
119,957.42
$
117,249.91
$
433,954.00
20,420.05
834,539.25
$385,850.00
$
32,990.68
$ 476.00
$
7,497,839.37
$
119,957.42
$
117,249.91
$
433,954.00
250.00
18,193.49
551,980.11
30.00
1,642.00
63.00
1,748.81
67,015.00
2,507$11.20
" 1,514,079.54
54,321.43
6,391,685.64
7,922,357.99
536,275.06
169,214.41
$535,935.61
$1,492,624.27
I
i
$33,618.25
$13,613$76.44
!$7,207,683.25
�I
$7;945,298.86
$1,652,425.89
-10-
LIABILITIES, RESERVES AND SURPLUS
Due to other funds
Accounts payable
Accrued payroll
Due to Hennepin County
Due to Metropolitan Sewer Board
Interest payable
Deferred income
Construction and other deposits
Edina Firemen's Relief Association
Construction contracts
Unexpended contributions
Reserve for future bond interest
Bonds payable
Reserve for assessment adjustments
Reserve for construction (deficit)
Surplus:
Invested in fixed assets
Appropriated:
For imprest cash
For debt service
For commitments
Unappropriated (deficit)
Total
$ 1,078,754.41
347,054.26
42,815.18
7,009.90
134,494.51
51,842.01
6,316.00
161,201.08
60,550.90
127,204.17
46,429.18
47,285.00
11,595,000.00
103,925.62
( 64,576.06)
21,612,824.07
550.00
165,221.25
1,066,237.00
5,529,058.12
$42,119,196.60
General
$ 38,252.86
183,466.19
17,256.35
134,494.51
65.00
116,779.75
60,550.90
10,000.00
3,134,444.89
550.00
1,066,237.00
539,767.94
$5,301,865.39
Revenue
Sharing
$ 394.56
335,834.84
$336,229.40
FUND BALANCE SHEETS (Cont'd)
Swimming
Poor Park Pool
$ 43,111.00 $ 274.00
$ 1,285.95 8,803.42 7.90
11,688.96
46,429.18
1,789,865.67 213,783.92
16,591.82 ( 34,857.93) ( 15,233.06)
$17,877.77 $1,8652040.30 $198,832.76
Golf
Course
Recreation
I Center
$ 256,388.95
$280,200.00
1,475.72
9,618.45
616.34
2,060.65
4,896.68
6,316.00
595,000.00 405,000.00
153,761.35 267,248.58
52,300.00
7,355.41
$1,066,897.77
36,500.00
( 160,549.72)
$851,290.64
Park
Park
Gun
Sewer
Liquor
Sinking
Construction
Range
Improvement
Waterworks
Rental
Dispensary
$ 77,612.24
$ 1,176.73
$ -251,392.07
68,288.68
$ 62,057.88
6,125.95
325.30
2,027.69
29,617.80
6,527.27
$ 97,772.62
97.50
2,778.75
1,671.19
6,250.88
I
i
7,009.90
$ 14,230.00 '
30,992.83
1,657.50
44,421.33
127,204.17
47,285.00
I
390,000.00
9,830,000.00
365,000.00
103,925.62
i
( 105,193.46)
40,617.40
�I
1,514,079.54
54,321:43
;`: 6,026,685.64
7,922,357.99
536,275.06
76,421.25
84,420.61
( 22,302.71)
3,175,985.43
637,233.63
( 47,315.47)-
1,012,127.33
$535,935.61
$1,492,624.27
.$33,618.25
$13,613,576.44
'$7,207,683.25
$72945,298.86
$1,652,425.89
-11-
STATEMENT OF ACCOUNTING POLICIES
VILLAGE OF EDINA
BASIS OF ACCOUNTING
The activities of the Village are accounted for in the various funds as
outlined below. The modified accrual basis of accounting is used, except for the
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 except for depreciation on equipment of the Swimming Pool, Golf Course,
Recreation Center and Gun Range Funds. Depreciation is provided using the straight
line method.
General fixed assets purchased are recorded as expenditures in the
General Fund or Park Fund at time of purchase. Such assets are capitalized at
cost. Expenditures for roads, bridges, curbs and gutters, streets and sidewalks,
drainage systems and lighting systems are not capitalized.
Fixed assets other than general fixed assets are carried on the basis
of cost in the fund for which they were purchased. Fixed assets obtained by gift
or contribution are recorded at fair market value at the time received.
The Village recognizes as an asset deferred general taxes levied to pay
bonded debt and as a liability the related future interest payable. In these in-
stances 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.
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 persons 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.
-12-
STATEMENT OF ACCOUNTING POLICIES (Cont'd)
ENTERPRISE FUNDS
Each of these funds 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 swimming 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.
IMPROVEMENT FUNDS
Construction costs incurred by the Village, other than for park pur-
poses, 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 construction or improvement purposes. The Improvement
Funds are 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 proper -'
ties 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 assess-
ments over actual costs incurred, less charges where actual costs exceeded the
assessments. Also charged to the reserve for assessment adjustments are deter-
minable 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, 1973
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
Due to Metropolitan Sewer Board -
connector charges
Sundry deposits
Bonds payable
Accrued interest
Surplus:
Invested in fixed assets:
Direct
Annexed -from Morningside
Contributed
Appropriated:
Reserve for commitments
For imprest cash
Unappropriated
$33,096,331.78
26,150.00
11,963.11
$ 925,749.41.
167,132.21
550.00
$ 35,508.70
995.50
750,000.00
$ 95,544.22
3,976.39
177,964.07
$. 69,167.50
69,167.50
$ 105,852.29
77,613.90
17,256.35
60,550.90
134,494.51
116,779.75
$ 1010000.00
65.00
$311134,444.89
$110669237.00
550.00 1,066,787.00
$10093,431.62
786,504.20
277,484.68
10,000.00
3,134,444.89
$5,301,865.39
$ 38,252.86
512,547.70
10,065.00
4,201,231.89
539,767.94
$52301,865.39
-14-
ASSETS
Cash:
Demand deposits
$ 2009749.41
Time deposits
725,000.00
Automobile license account
Working funds
Investments at cost:,
Land investments
Donated securities
Village of Edina Improvement Bonds
of 1972
Receivables:
Accounts receivable
Special assessments - current
$ 2,128.63
Special assessments - d'eferred
1,847.76
Due from other funds
Supply inventory - estimated
Taxes receivable - delinquent
Less allowance for delinquent taxes
Fixed assets
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
Due to Metropolitan Sewer Board -
connector charges
Sundry deposits
Bonds payable
Accrued interest
Surplus:
Invested in fixed assets:
Direct
Annexed -from Morningside
Contributed
Appropriated:
Reserve for commitments
For imprest cash
Unappropriated
$33,096,331.78
26,150.00
11,963.11
$ 925,749.41.
167,132.21
550.00
$ 35,508.70
995.50
750,000.00
$ 95,544.22
3,976.39
177,964.07
$. 69,167.50
69,167.50
$ 105,852.29
77,613.90
17,256.35
60,550.90
134,494.51
116,779.75
$ 1010000.00
65.00
$311134,444.89
$110669237.00
550.00 1,066,787.00
$10093,431.62
786,504.20
277,484.68
10,000.00
3,134,444.89
$5,301,865.39
$ 38,252.86
512,547.70
10,065.00
4,201,231.89
539,767.94
$52301,865.39
-14-
GENERAL FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year Ended December 31, 1973
Invested
Total Direct
APPROPRIATED
Balance at January 1, 1973 $32970,333.37 $2,932,933.26
Additions:
Transfer from unappropriated surplus
for commitments 90,000.00
Transfer from unappropriated surplus
for fixed assets - net 163,398.52 163,398.52
$422232731.89 $32096,331.78
Deductions:
Transfer to revenue 22,500.00
Balance at December 31, 1973 $42201,231,89 $33,096,331.78
UNAPPROPRIATED
Balance at January 1, 1973
Additions:
Revenues - see separate schedule
Installment on voting machines
Less expenditures - see separate schedule
Deductions:
Transfer to revenue
in Fixed Assets
Annexed from
Contributed Morningside
$11,963.11 $ 262150.00
Appropriated
For Reserve for
Imprest Cash Commitments
$ 550.00 $ 998,737.00
90,000.00
$11,963.11 $ 26,150.00 $ 550.00 $1,088,737.00
$11,963.11 $ 26,150.00
$391939664.19
1,624.00
22,500.00
$ 550.00 $1,066,237.00
$ 4203,458.75
$3,195;288.19
3,045,820.00 149.468.19
$ 569,926.94
30,159.00
Balance at December 31, 1973 $ 539,767.94
-15-
GENERAL FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1973
Balance at January 1, 1973 $ 6429749.72
Additions:
Receipts - per separate schedule
$2,95221208.14
Collection of amount due others:
Waterworks Fund
$14,728.84
Edina Firemen's Relief Association
61,537.40
Metropolitan Sewer Board
659615.75
Other funds
4,304.22
146,186.21
Collections made on accounts receivable
and due from other funds
98,361.08
Payments received from Independent School
District No. 273 for gasoline purchases
31,293.46
Receipts - dedicated fund
722924.20
Other receipts
697.91
3,301,671.00
$3,944,420.72
Deductions:
Disbursements - per separate schedule
$2,774,875.00
Gasoline purchased for Independent School
District No. 273
272640.20
Payments on accruals at December 31, 1972:
Trade accounts
$573,258.68
Accrued payroll
13,305.84
Edina Firemen's Relief Association
511390.51
Due to other funds
66,408.50
188,363.53
Payment of bonds
52000.00
Payments - dedicated fund
2,009.64
Payments - Morningside Improvement Fund
$ 9,171.05
Less receipts of fund
4,175.18
4,995.87
Payments on workorders
2,493.00
Payments made for others
13,294.07
3,018,671.31
Balance at December 31, 1973
$ 925,749.41
-16-
GENERAL FUND
REVENUES
VILLAGE OF EDINA
Year Ended December 31, 1973
Receipts Accruals
Real and personal property taxes:
Received from direct local levies $1,320,037.00
Received from Sales Tax Replacement Fund -
thirty -five per cent forgiveness 234,719.00
TOTAL REAL AND PERSONAL PROPERTY TAXES $125542756.00 $ -
Other taxes
73,174.00
Bicycle licenses s
5$20.00
Beer and liquor licenses
2,475.00
Cigarette licenses
2,393.00
Dog licenses and impounding fees
62290.00
Food and soft drink licenses
109273.00
Gas pump licenses
1,260.00
Other business licenses
8,359.00
Heating and ventilating licenses
1,491.00
Scavenger and garbage collector licenses
975.00
Water softener installation licenses
70.00
Building permits
125,184.00
( 69,240.00)
Cesspool and sewer permits
1,424.00
Plumbing permits
282476.00
( 44.00)
Sign permits
1,890.00
Street opening fees
2,041.00
Heating permits
62135.00
Other permits and licenses
Planning fees
13668.00
Engineering and clerical
19,626.00
1012130.00
Equipment rentals
( 3,000.00)
63,309.00
Fines
133,003.00
26,443.00
Income on investments
569324.00
256.00
Sale and rental of property
89156.00
71501.00
Sale of automobile licenses
149396.00
22,804.00
State tax apportionment- liquor and cigarette
1642370.00
State sales and use tax
6402045.00
( 976.00)
Police and fire service
11,333.00
2',796.00
Contribution from active funds
13,924.00
3010635.00
Charges to other funds
20,700.00
Discounts earned
21248.00
202.00
State apportionment - highway
22,715.00
6,545.00
Other revenue
111913.14
7,237.05
Transfer - reserve for commitments
723500.00
Transfer - unappropriated surplus
2,801.00
27,358.00
TOTAL
$2,952,208.14
$2412456.05
( ) Indicates deduction.
. Revenues
$1,320,037.00
234,719.00
$1,554,756.00
73,174.00
5,320.00
2,475.00
2,393.00
6.%290.00
10,273.00
1,260.00
8,359.00
1,491.00
975.00
70.00
55,944.00
1,424.00
28,432.00
1,890.00
2,041.00
6,135.00
1,668.00
120,756.00
3,309.00
159,446.00
56,580.00
15,657.00
37,200.00
164,370.00
639,069.00
14,129.00
44,559.00
20,700.00
2,450.00
29,260.00
19,150.19
72,500.00
30.159.00
$3,193,664.19
Estimated
Revenue
$1,379,727.00
234,719.00
$1,614,446.00
40,000.00
2,200.00
1,450.00
2,300.00
6,500.00
9',500.00
1,150.00
6,800.00
900.00
72,000.03
1,500.00
22,000.00
1,000.00
1,500.00
4,000.00
14,000.00
2$00.00
115,000.00
131,600.00
50,000.00
8,600.00
24,000.00
158,125.00
625,211.00
11,105.00
44,559.00
20,700.00
28,000.00
12,900.00
72,500.00
30,159.00
$3,136,206.00
Actual Revenue
Over- Under*
Estimated Revenue
$59,690.00*
$5910690.00*
33,174.00
3,120.00
1,025.00
93.00
210.00*
773.00
110.00
1,559.00
1,491.00
75.00
70.00
16,056.00*
76.00*
6,432.00
890.00
541.00
2,135.00
14,000.00*
832.00*
5,756.00
3,309.00
27,846.00
6,580.00
7,057.00
13,200.00
6,245.00
13,858.00
3,023.00
2,450.00
1,260.00
6,250.19
$57,458.19
-17-
GENERAL GOVERNMENT
Mayor and Council
Planning
Administration:
Personal services
Contractual services
Commodities
Fixed charges
Finance:
Personal services
Contractual services
Commodities
Fixed charges
Election
Assessing:
Personal services
Contractual services
Commodities
Fixed charges
Legal services
GENERAL FUND
EXPENDITURES
VILLAGE OF EDINA
Year Ended December 31, 1973
TOTAL GENERAL GOVERNMENT
ADMINISTRATION, ENGINEERING AND PUBLIC WORKS
Administration:
Personal services
Contractual services and commodities
Fixed charges
Engineering:
Personal services
Contractual services
Commodities
Fixed charges
Public works:
Supervision and clerical
Training
Paid leave
General maintenance
Street cleaning
Disbursements
$ 18,364.00
29,418.00
$ 68,631.00
7,113.00
435.00
17,040.00
$ 930219.00
$ 793587.00
8,686.00
304.00
14,220.00
$ 102,797.00
17,423.00
$ 69,578,00
3,545.00
484.00
13,200.00
$ 86,807.00
49,860.00
$ 397,888.00
$ 272299.00
63.00
6,360.00
$ 33,722.00
$ 1242363.00
1,949.00
6,097.00
27,780.00
$ 160,189.00
$ 79,128.00
1,010.00
36,984.00
,101,287.00
49,150.00
Encumbrances
$ 650.00
27.00
$ 2,004.00
( 166.00)
$ 1,838.00
$ 2,266.00
( 1,418.00)
( 131.00)
717.00
( 6,380.00)
$ 194.00
96.00
50.00
$ 340.00
29,054.00
$ 26,246.00
$ 3,277.00
3,321.00
9.00
$ 6,607.00
$ 474.00
3,499.00
9,515.00
25.00
Expenditures
$ 19,014.00
29,445.00
$ 682631.00
9,117.00
269.00
17,040.00
$ 953,057.00
$ 812853.00
7,268.00
173.00
14,220.00
$ 103,514.00
11,043.00
$ 69,772.00
3,641.00
534.00
13,200.00
$ 872147.00
78,914.00
$ 424,134.00
$ 272299.00
63.00
6,360.00
$ 339722.00
$ 127,640.00
5,270.00
6,106.00
27,780.00
$ 166,796.00
$ 79,602.00
1,010.00
40,483 00
110,802.00
49,175.00
Appropriation
$ 19,190.00
30,980.00
$ 739530.00
9,834.00
300.00
17,040.00
$ 1003,704.00
$ 81,900.00
7,775.00
200.00
14,220.00
$ 1043,095.00
12,147.00
$ 69,800.00
5,657.00
550.00
13,200.00
$ 899207.00
67,580.00
$ 423,903.00
$ 279300.00
65.00
6,360.00
$ 335725.00
$ 1279345.00
5,280.00
6,110.00
27,780.00
$ 166,515.00
$ 80,000.00
1,980.00
41,000.00
114,361.00
52,567.00
Unexpended
Overexpended*
Balance
$ 176.00
1,535.00
$ 4,899.00
717.00
31.00
$ 47.00
507.00
27.00
$ 581.00
1,104.00
$ 28.00
2,016.00
16.00
$ 2,060.00
11,334.00*
$ 231.00*
$ 1.00
2.00
$ 3.00
$ 295.00*
10.00
4.00
$ 281.00*
$ 398.00
970.00
517.00
3,559.00
3$92.00
-18-
GENERAL FUND
EXPENDITURES ( Cont'd)
Disbursements
Encumbrances
ADMINISTRATION, ENGINEERING AND PUBLIC WORKS ( Cont'd)
Public works (cont'd):
Renovation
$
760236.00
$
66.00
Snow and ice removal
69,400.00
9,642.00
Street lighting
871386.00
478.00
Ornamental lighting
1,333.00
160.00
Street name signs
6,069.00
Traffic control:
Sign maintenance
$
18,219.00
$
12369.00
Signal maintenance
8,846.00
1,076.00
Pavement marking
6,247.00
$
33,312.00
$
2,445.00
Guard rail maintenance
3,137.00
.155.00
Bridges - general maintenance
29646.00
Storm sewer maintenance
33,819.00
3,792.00
Temporary drainage and culverts
1,532.00
Village properties:
Turf care and plantings
$
13,755.00
Tree maintenance
19,069.00
$
240.00
$
32,824.00
$
240.00
Noxious weed control
10834.00
Lakes and ponds maintenance
9,993.00
20.00
Sidewalks:
Maintenance and repair
$
697.00
Snow and ice removal
563.00
$
144.00
$
1,260.00
$
144.00
Parking ramp maintenance
5,168.00
226.00
TOTAL - PUBLIC WORKS
$
631,674.00
$
32,715.00
TOTAL ADMINISTRATION, ENGINEERING
AND PUBLIC WORKS
$
825,585.00
$
39,322.00
PROTECTION OF PERSONS AND PROPERTY
Police protection:
Personal services
$
633,344.00
$
131340.00
Contracted services
19,610.00
(
621.00)
Commodities
8,290.00
330.00
Fixed charges
158,580.00
$
8195,824.00
$
1,049.00
Fire protection:
Personal services
$
261,727.00
$
704.00
Contracted services
15,200.00
1,579.00
Commodities
4,996.00
227.00
Fixed charges
64,920.00
$
346,843:00
$
2$10.00
Expenditures
$ 76,302.00
79,042.00
87,864.00
1,493.00
6,069.00
$ 19,588.00
9,922.00
6,247.00
$ 351757.00
3,292.00
2,646.00
37,611.00
1,532.00
$ 132755.00
19,309.00
$ 33,064.00
1,834.00
10,013.00
$ 697.00
707.00
$ 1,404.00
5,394.00
$ 664,389.00
$ 8642907.00
$ 634,684.00
18,989.00
8,620.00
158,580.00
$ 8209873.00
$ 262,431.00
16,779.00
5,223.00
64,920.00
$ 3492353.00
Appropriation
$ 819851.00
81,895.00
91,770.00
4,250.00
15,491.00
$ 213,000.00
12,510.00
7,890.00
$ 41,400.00
6,605.00
4,711.00
38,000.00
4,850.00
$ 14,045.00
20,000.00
$ 34,045.00
2,500.00
12,190.00
$ 1,985.00
2,035.00
$ 4,020.00
6,720.00
$ 720,206.00
$ 920,446.00
$ 635,285.00
19,126.00
10,032.00
158,580.00
$ 823,023.00
$ 273,682.00
16,963.00
6,221.00
64,920.00
$ 361,786.00
Unexpended
Overexpended*
Balance
$ 5,549.00
2,853.00
3,906.00
2,757.00
9,422.00
$ 1,412.00
2,588.00
1,643.00
$ 5,643.00
3,313.00
2,065.00
389.00
3,318.00
$ 290.00
691.00
$ 981.00
666.00
2,177.00
$ 1,288.00
1,328.00
$ 2,616.00
1,326.00
$55,817.00
$55,539.00
$ 601.00
137.00
1,412.00
$ 2,150.00
$11,251.00
184.00
998.00
$12,433.00
-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 assessments on Village property
Human Rights Commission
CENTRAL SERVICES
See separate schedule attached
TOTAL NON- DEPARTMENTAL
TOTAL OPERATING EXPENSES
CAPITAL OUTLAY
Administration
Engineering
Public works
Police
Fire
Public Health
Contingencies
Special assessments on Village Property
Unallocated capital outlay
Capital improvements
TOTAL CAPITAL OUTLAY
Disbursements Encumbrances
$ 5,381.00
$
10.00
$ 25080.00
($
400.00)
12253.00
(
35.00)
421.00
9,137.00
539.00
6,660.00
6,798.00
$ 33,714.00
$
104.00
109509.00
176.00
$ 49,866.00
$
325.00
3,718.00
92.00
990.00
11,700.00
$ 66,274.00
$ 417.00
$1,282,545.00
$
4,266.00
$ 19,898.00 $ 14,749.00
26.00
55,858.00
9,190.00 502.00
$ 84,972.00 $ 151251.00
21,715.00 24,599.00
$2,612,705.00 $109,684.00
$ 1,324.00
109013.00
$ 25,478.00
449403.00
( 8,345.00)
549899.00
180.00
42575.00
( 2,850.00)
9,137.00
379819.00
6,798.00
50,000.00
$ 162,170.00
$ 712261.00
Expenditures
$ 5,391.00
$ 24,980.00
1,218.00
960.00
6,660.00
$ 33,818.00
10,685.00
$ 503,191.00
3,810.00
990.00
11,700.00
$ 66,691.00
$192862811.00
$ 34,647.00
26.00
55,858.00
9,692.00
$ 1002223.00
46,314.00
$2,722,389.00
$ 1,324.00
35,491.00
36,058.00
55,079.00
1,725.00
9,137.00
44,617.00
50,000.00
$ 2332431.00
Appropriation
$ 5,723.00
$ 25,860.00
1,632.00
1,625.00
6,660.00
$ 35,777.00
12,300.00
$ 502200.00
3,951.00
1,000.00
11,700.00
$ 66,851.00
$1,305,460.00
$ 34,687.00
200.00
60,000.00
10,300.00
$ 105,187.00
52,500.00
$2,8072496.00
$ 1,090.00
1,400.00
35,600.00
36,361.00
55,500.00
234.00
1,725.00
10,000.00
46,800.00
50,000.00
$ 2383,710.00
Unexpended
Overexpended*
Balance
$ 332.00
$ 880.00
414.00
665.00
$ 1,959.00
1,615.00
$ 9.00
141.00
10.00
$ 160.00
$18,649.00
$ 40.00
174.00
4,142.00
608.00
$ 4,964.00
6,186.00
$85,107.00
$ 1,090.00
76.00
109.00
303.00
421.00
234.00
863.00
2,183.00
$ 5,279.00
-20-
GENERAL FUND
EXPENDITURES (Cont'd)
Disbursements Encumbrances
RESERVE FOR COMMITMENTS
Public works $ 70,000.00
Police 109000.00
Unallocated capital outlay 10,000.00
TOTAL RESERVE FOR COMMITMENTS $ - $ 90,000.00
TOTAL $297740875.00 $270,945.00
( ) Indicates deduction.
Expenditures
$ 70,000.00
10,000.00
10,000.00
$ 90,000.00
$320459820.00
Appropriation
$ 70,000.00
10,000.00
10,000.00
$ 90,000.00
$3,136,206.00
Unexpended
Overexpended*
Balance
$90,386.00
-21-
GENERAL FUND
CENTRAL SERVICES EXPENDITURES
VILLAGE OF EDINA
Year Ended December 31, 1973
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
TOTAL EQUIPMENT OPERATION
Less allocation to other departments or funds
TOTAL
Disbursements
$415,997.00
8,524.00
$424,521.00
$ 189281.00
11,013.00
3,578.00
1,500.00
$ 34,372.00
31,652.00
$ 67,286.00
33,371.00
39,574.00
34,680.00
38,112.00
9,400.00
2,827.00
$225,250.00
$715,795.00
694,080.00
$ 21,715.00
Encumbrances
$ 887.00
550.00
$ 1,437.00
$ 157.00
1,780.00
545.00
$ 2,482.00
3,144.00
$ 1,864.00
1,027.00
5,718.20
6,287.00
1$26.00
1,114.00
$17,536.00
$24,599.00
$24,599.00
-22-
Unexpended
Overexpended*
Expenditures
Appropriation
Balance
$416,884.00
$418,000.00
$1,116.00
9,074.00
10,660.00
1,586.00
$425,958.00
$428,660.00
$2,702.00
$ 18,438.00
$ 18,275.00
$ 163.00*
12,793.00
12,800.00
7.00.
4,123.00
4,125.00
2.00
1,500.00
1,500.00
-
$ 36,854.00
$ 36,700.00
$ 154.00*
34,796.00
36,720.00
1,924.00
$ 69,150.00
$ 69,470.00
$ 320.00
34,398.00
34,600.00
202.00
45,292.00
45,350.00
58.00
34,680.00
34,680.00
-
44,399.00
45,400.00
1,001.00
10,926.00
11,000.00
74.00
3,941.00
4,000.00
59.00
$242,786.00
$244,500.00
$1,714.0 0
$740,394.00
$746,580.00
$6,186.00
694,080.00
694,080.00
-
$ 46,314.00
$ 52,500.00
$6,186.00
-22-
Land
Land improvements
Buildings
Furniture and fixtures
Equipment:
Highway
Police
Fire
Election
Engineering
Traffic signal
Executive
Miscellaneous
GENERAL FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December 31, 1973
Balance
Balance
January 1,
December 31,
1973
Additions Deductions
1973
$ 276,412.52
$ 276,412.52
197,661.48
$ 9,137.00
2069798.48
12279,864.67
359047.00
13,314,911.67
87,497.28
8,244.00
95,741.28
566,805.82
29,033.00 $ 32133.00
5922705.82
11331008.97
542504.00 32,835.48
1349677.49
177,342.90
55,079.00
232,421.90
116,719.93
1161719.93
33,202.64
1,324.00
343526.64
84,707.18
65,999.00
919706.18
1,834.15
1,834.15
35,988.83
35.988.83
TOTAL $2,971,046.37 $1992367.00 $35,968.48 $31134,444.89
-23-
GENERAL FUND
BONDS PAYABLE
VILLAGE OF EDINA
December 31, 1973
Annual maturities and interest dates
Interest rate
-24-
Street
Improvement
Year
No. 14
May 1 and
November 1
3.9%
1974
$ 52000.00
1975
5,000.00
TOTAL
$10,000.00
-24-
REVENUE SHARING FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1973
ASSETS
Cash on deposit $290,084.40
Account receivable from federal government 46,145.00
$336,229.40
LIABILITIES AND SURPLUS
Accrued payroll $ 394.56
Unappropriated surplus 335,834.84
$33631229.40
-25-
REVENUE SHARING FUND
STATEMENT OF SURPLUS - UNAPPROPRIATED
VILLAGE OF EDINA
Year Ended December 31, 1973
Balance at January 1, 1973
Additions:
Revenues from the federal government
Income on investments
Deductions:
Expenditures for year
Capital expenditures:
Public safety
Parks and recreation
Operating expenditures:
Parks and recreation
$182,216.00
6,252.88
Balance at December 31, 1973
STATEMENT OF EXPENDITURES
Year Ended December 31, 1973
TOTAL EXPENDITURES
$159,351.00
188,468.88
$347,819.88
11,985.04
$335,834.84
$ 4,151.50
5,570.30
$ 9,721.80
2,263.24
11,985.04
-26-
REVENUE SHARING FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1973
Balance at January 1, 1973
Additions:
Income on investments
Revenues from federal government
Investments sold
Deductions:
Investments purchased
Expenses for year
Less accrued payroll
$ 1,680.67
$ 6,252.88
214,104.00
180,304.69 400,661.57
$402,342.24
$100,667.36
$11,985.04
394.56 11,590.48 112,257.84
Balance at December 31, 1973 $290,084.40
-27-
POOR FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1973
ASSETS
Cash on deposit
LIABILITIES AND SURPLUS
Accounts payable
Unappropriated surplus
$17,877.77
$ 1,285.95
16.591.82
$17,877.77
-28-
POOR FUND
STATEMENT OF SURPLUS - UNAPPROPRIATED
VILLAGE OF EDINA
Year Ended December 31, 1973
Balance at January 1, 1973
Deduct:
Excess of expenditures over revenues
Balance at December 31, 1973
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
NET INCOME (LOSS)
Year Ended December 31
1973 1972
$17,458.38 $17,435.71
90.67
$17$49.05 $17,435.71
$ 4,818.51
2,724.92
14,975.64
959.50
150.00
,$23,628.57
($ 6,079.52)
$22,671.34
6,079.52
$16,591.82
Increase
$ 22.67
90.67
$ 113.34
$ 5,298.03 $ 479.52*
2,899.28 174.36*
14,975.64 -
186.75 772.75
150.00 -
$23,509.70 $ 118.87
($ 6,073.99) $ 5.53*
-29-
POOR FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1973
Balance at January 1, 1973
Additions:
Sale of investments
Income on investments
Tax settlements received:
February 1973
May 1973
July 1973
December 1973
Deductions:
Payments to Suburban Hennepin County Relief
Board:
Relief orders
Administrative
Less accounts payable at December 31, 1973
Payment made on accrual at December 31, 1972
Suburban Public Health Nursing Service
Professional services
Other
$ 3,352.47
$19,909.33
90.67
$ 109.84
517.87
7,671.18
9,159.49 17,458.38 37,458.38
$40,810.85
$4,818.51
2,724.92
$7,543.43
1,285.95
$ 6,257.48
590.46
14,975.64
150.00
959.50 22,933.08
Balance at December 31, 1973 $17,877.77
-30-
PARK FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1973
Cash on deposit
Receivables:
Customers
Taxes receivable - delinquent
Less allowance for delinquent taxes
Due from other funds
Inventory of supplies - estimated
Fixed assets - at cost
ASSETS
$ 1,500.00
$ 12,092.81
12,092.81
LIABILITIES AND SURPLUS
Liabilities:
Accounts payable
Accrued payroll
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
special assessments
By others
Unappropriated (deficit)
$ 1,267.09
602.09
44,560.00
$1,183,517.44
$579,345.57
27,002.66 606,348.23
$ 72,800.63
1,500.00
274.00
600.00
1.789.865.67
$13P865,040.30
$ 8,803.42
11,688.96
43,111.00
$ 63,603.38
46,429.18
1,7899865.67
( 34,857.93)
$1,865,040.30
-31-
PARK FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year Ended December 31, 1973
Appropriated:
Balance at January 1, 1973
Additions:
Transfer from unappropriated
surplus for fixed assets
Special assessments paid by
General Fund
Balance at December 31, 1973
Unappropriated:
Balance (deficit) at January 1,
1973
Additions:
Revenue - see separate schedule
Investment in Fixed Assets
Contributed
By.General
Fund by
Payment of
Special
Combined Assessments By Others Direct
$1,720,933.39 $523,487.29 $27,002.66 $1,170,443.44
13,074.00 13,074.00
55,858.28 55,858.28
$1,78931865.67 $579,345.57 $27,002.66 $1,183,517.44
Deductions:
Expenditures, including $13,074.00
for capital outlay - see separate
schedule 370,560.00
Balance (deficit) at December 31, 1973 ($ 34,857.93)
($ 27,425.91)
363,127.98
$ 335,702.07
-32-
PARK FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1973
Balance at January 1, 1973
Additions:
Receipts - see separate schedule
Payment received on accrual at December 31,
1972
Registration fees - figure skating
Dedicated funds for skiing, archery,
gymnastics, etc.
Dedicated funds for park land
Deductions:
Disbursements - see separate schedule
Expense - figure skating
Payment on accruals at December 31, 1972:
Accounts payable
Accrued payroll
Expenses - Student Center - net
Payments from dedicated funds
$391,464.63
17,363.00
24,251.95
14,082.22
24,860.00
$365,367.00
11,597.87
$ 15,603.08
472,021.80
$4879624.88
$7,944.45
9,363.85 17,308.30
5,253.95
15,297.13 414,824.25
Balance at December 31, 1973 $ 72,800.63
-33-
PARK FUND
REVENUES AND EXPENDITURES
VILLAGE OF EDINA
Year Ended December 31, 1973
( ) Indicates deduction.
Receipts
Accruals
REVENUES
Real and personal property taxes
$187,261.00
Registration fees
22,995.00
$ 2,300.00
Transfer from active funds
181,076.00
( 30,635.00)
Other revenues
132.63
( 1.65)
TOTAL REVENUES
$391,464.63
($28,336.65)
Adjustments
and
Disbursements
Encumbrances
EXPENDITURES
Administration:
Personal services
$ 61,792.00
Contractual services
2,095.00
$ 16.00
Commodities
10.00
63.00
Central services
40,560.00
Training
411.00
Paid leave
17,380.00
1,445.00
TOTAL ADMINISTRATION
$122,248.00
$ 1,524.00
Capital outlay
8,369.00
4,705.00
Recreation:
Baseball and softball
$ 7,966.00
Skating and hockey
11,759.00
$ 1,789.00
Tennis instruction
2,142.00
Playgrounds
13,184.00
Swimming instruction
29,602.00
( 14,516.00)
Teen program
98.00
Special activities
7,781.00
3.00
TOTAL RECREATION
$ 72,532.00
($12,724.00)
Maintenance:
Mowing
$ 18,964.00
Special turf care
29,957.00
$ 7.00
Planting and trees
7,510.00
Litter removal
7,779.00
450.00
Parking areas
6,402.00
Building and equipment
41,063.00
1,041.00
Skating rinks
50,543.00
10,190.00
TOTAL MAINTENANCE
$162,218.00
$11,688.00
TOTAL EXPENDITURES
$365,367.00
$ 5,193.00
( ) Indicates deduction.
c,
-34-
Actual
Revenue
Over - Under*
Estimated
Estimated
Revenues
Revenues
Revenues
$187,261.00
$189,308.00
$ 2,047.00*
25,295.00
28,000.00
2,705.00*
150,441.00
150,441.00
-
130.98
750.00
619.02*
$363,127.98
$368,499.00
$ 5,371.02*
Expenditures
Over* -Under
Expenditures
Appropriations
Appropriation
$ 61,792.00
$ 63,520.00
$ 1,728.00
2,111.00
2,000.00
111.00*
73.00
175.00
102.00
40,560.00
40,560.00
-
411.00
300.00
111.00*
18,825.00
15,500.00
3,325.00*
$123,772.00
$122,055.00
$ 1,717.00*
13,074.00
8,450.00
4,624.00*
$ 7,966.00
$ 8,230.00
$ 264.00
13,548.00
13,900.00
352.00
2,142.00
3,130.00
988.00
13,184.00
15,100.00
1,916.00
15,086.00
17,440.00
2,354.00
98.00
2,000.00
1,902.00
7,784.00
8,900.00
1,116.00
$ 59,808.00
$ 68,700.00
$ 8,892.00
$ 18,964.00
$ 22,000.00
$ 3,036.00
29,964.00
30,380.00
416.00
7,510.00
10,780.00
3,270.00
8,229.00
9,780.00
1,551.00
6,402.00
8,830.00
2,428.00
42,104.00
39,424.00
2,680.00*
60,733.00
48,100.00
12,633.00*
$173,906.00
$169,294.00
$ 4,612.00*
$370,560.00
$368,499.00
$ 2,061.00*
c,
-34-
PARK FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December 31, 1973
-35-
Balance
Balance
January 1,
December 31,
1973
Additions
1973
Land
$ 423,204.86
$ 423,204.86
Skating rinks
5,812.03
5,812.03
Land improvements
540,607.74
$55,858.28
596,466.02
Building
4,042.32
4,042.32
Park equipment
91,954.43
8,996.00
100,950.43
Furniture, fixtures and equipment
3,703.78
3,703.78
Trucks, automobile and tractors
51,791.78
4,078.00
55,869.78
Miscellaneous
9,622.32
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
89696.96
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
$1,720,933.39
$68,932.28
$1,789,865.67
-35-
SWIMMING POOL FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1973
ASSETS
Cash on deposit (deficit)
Prepaid insurance
Fixed assets - on the basis of cost:
Land
Swimming pool and bathhouse
Filter system
Concession furniture and fixtures
Less allowance for depreciation
LIABILITIES AND SURPLUS
Accounts payable
Due to other funds
Surplus:
Invested in fixed assets:
From bonds
Direct
Donated
Unappropriated (deficit)
($ 15,202.16)
251.00
$ 10,000.00
184,026.67
17,000.00
$3,940.00
1,182.75 2,757.25 213,783.92
$209,431.89
4,302.03
sn nn
$198,832.76
$ 7.90
274.00
213,783.92
( 15,233.06)
$198,832.76
-36-
SWD�MING POOL FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year Ended December 31, 1973
Invested in Fixed Assets
Total Unappropriated Donated Direct From Bonds
Balance (deficit) at
January 1, 1973 $206,887.11 ($ 7,328.31) $50.00 $4,733.53 $209,431.89
Additions and transfers:
Net loss for year ( 8,336.25) ( 8,336.25)
Provision for
depreciation - 431.50 ( 431.50)
Balance (deficit) at
December 31, 1973 $198,550.86 ($15,233.06) $50.00 $4,302.03 $209,431.89
-37-
SWIMMING POOL FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1973.
Balance (deficit) at January 1, 1973
Additions:
Pool fees
Concession loss - see separate schedule
Add provision for depreciation not
requiring cash
Other revenue
Deductions:
Operating expense - see separate schedule
Payment made on accruals at December 31, 1972
Less payables at December 31, 1973:
($ 6,508.31)
$39,671.00
($ 74.00)
367.50 293.50
2,184.75 42,149.25
$35,640.94
$50,054.00
1,071.00
.$51,125.00
Accounts payable $ 7.90
Due to other funds 274.00 281.90 50,843.10
BALANCE.(DEFICIT) AT DECEMBER 31, 1973 ($15,202.16)
-38-
SWIMMING POOL FUND
STATEMENT OF INCOME AND EXPENSE
VILLAGE OF EDINA
Year Ended December 31, 1973
Revenues:
Pool fees:
Season tickets
General admissions
Rental - instruction program
Other
Operating expenses:
Salaries and wages:
Supervision and clerical
Life guards
Cashiers
Basket room attendants
Watchmen
Maintenance
Light and power
Water and sewer
Gas
Telephone
Rubbish hauling
Insurance
Repairs
Cleaning supplies
Water treatment
General supplies
Annual audit
Printing and office expense
Central services
Equipment rental
Loss from concessions - see separate schedule
Provision for depreciation
$33,505.00
6,166.00
$ 3,665.00
13,123.00
1,575.00
4,986.00
1,433.00
5,864.00 $30,646.00
1,829.00
275.00
3,120.00
178.00
195.00
528.00
3,595.00
68.00
1,943.00
2,866.00
225.00
1,028.00
3,120.00
438.00
LOSS BEFORE DEPRECIATION
NET LOSS
$39,671.00
2,000.00
184.75
$41,855.75
50,054.00
$ 8,198.25
74.00
$ 8,272.25
64.00
$ 8,336.25
-39-
SWIMMING POOL FUND
STATEMENT OF INCOME AND EXPENSE (CONCESSIONS ONLY)
VILLAGE OF EDINA
Year Ended December 31, 1973
-40-
Gross Profit
Cost of
Per Cent
Sales
Sales
Amount
to Sales
Soft drinks
$ 1,382.00
$ 713.00
$ 669.00
48.41%
Soft ice cream.
3,700.00
21291.00
1,409.00
38.08
Popcorn
1,868.00
357.00
1,511.00
80.89
Cakes and pies
2,555.00
1,719.00
836.00
32.72
Sandwiches and other
1,083.00
662.00
421.00
38.87
$10,588.00
$5,742.00
$4,846.00
.45.77%
Operating expenses:
Salaries and wages:
Manager
$ 1,015.50
Other
3,287.50
$4,303.00
Supplies
105.00
Repairs
144.00
Provision for depreciation
368.00
4,920.00
NET LOSS
$ 74.00
-40-
SWIMMING POOL FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December 31, 1973
Balance Balance
January 1, December 31,
1973 Additions 1973
ASSETS
Land $ 10,000.00 $ 103,000.00
Swimming pool and bathhouse 184,026.67 1849026.67
Filter system 17,000.00 17,000.00
Concession furniture and equipment 3,940.00 3,940.00
$214,966.67 $ - $214,966.67
ALLOWANCE FOR DEPRECIATION
Concession furniture and equipment 751.25 431.50 1,182.75
NET BALANCE $214,215.42 $431.50 $213,783.92
-41-
GOLF COURSE FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1973
ASSETS
Cash:
Demand deposits
Time deposits
Investments - at cost:
Village of Edina - Golf Course Bonds of 1963
Accrued interest
Prepaid insurance
Fixed assets - on the basis of cost:
Golf course
Buildings
Well
Parking lot and roadways
Equipment
Less allowances for depreciation
LIABILITIES AND SURPLUS
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
$ 10,196.52
50,000.00 $ 60,196.52
$ 12,603.15
125.80 12,728.95
210.95
$726,414.02
204,780.48
15,018.15
9,627.32
$103,953.15
66,031.77 37,921.38 993,761.35
$1,066,897.77
$ 1,475.72
616.34
11$88.95
245,000.00
595,000.00
$ 52,300.00
153,761.35
7,355.41. 213,416.76
$1,066,897.77
-42-
GOLF COURSE FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year Ended December 31, 1973
Appropriated Invested
for Debt in Fixed
Unappropriated Service Assets
Balance at January 1, 1973 $18,652.36 $52,300.00 $111,327.42
Additions (deductions):
Net income for the year 31,136.98
Fixed assets purchased ( 17,357.32) 17,357.32
Transfers in (out):
Bonds retired ( 35,000.00) 35,000.00
Provision for depreciation 9,923.39 ( 9,923.39)
Balance at December 31, 1973 $ 79355.41 $52,300.00 $153,761.35
-43-
GOLF COURSE FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1973
Balance at January 1, 1973
Additions:
Revenues - see separate schedule
Net income - operating departments
see separate schedule
Add provision for depreciation
not requiring cash
Decrease in amount due from
other funds
Income on investment
Sale of investments
Decrease in prepaid expense
Decrease in working funds
Increase in liabilities:
Balance at December 31, 1973:
Accounts payable $ 1,475.72
Accrued payroll 616.34
Due to other funds 11,388.95
Balance at January 1, 1973:
Accounts payable $ 1,301.51
Accrued payroll 357.21
Due to other funds 8,575.00
Deductions:
Operating expenses - see
separate schedule
Additions to fixed assets
Payment to fiscal agent:
Principal
Interest
Service charge
Interest paid Liquor Dispensary
Fund
$16,051.00
1,378.39
$13,481.01
$2219133.98
17,429.39
8.00
2,659.00
14,932.00
139.32
52.00
$ 53,114.86
10,233.72 3,247.29 259,600.98
$312,715.84
$170,589.00
17,357.32
$35,000.00
20,950.00
48.00 55,998.00
8,575.00 252,519.32
Balance at December 31, 1973 $ 60,196.52
-44-
GOLF COURSE FUND
STATEMENT OF INCOME AND EXPENSE'
VILLAGE OF EDINA
Year Ended December 31, 1973
Revenues:
Membership fees
Green fees:
Regular course
Short course
Rental of golf course
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.
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
Repairs
Insurance
Supplies
Other
Maintenance of course and grounds:
Salaries and wages:
Superintendent
Maintenance
$144,278.00
30,194.00
$ 11,462.00
3,000.00
5,251.00
12,130.00
7319843.00
850.00
2,423.00
773.00
1,328.00
11,160.00
823.00
49,200.00
$ 5,399.00
$1,031.00
119.00
1,063.00
3,953.00
1,642.00
480.00
$8,288.00
2,486.00
5,802.00
6,154.00
295.00
3,209.00
663.00 21,522.00
$12,751.00
48,339.00
$61,090.00
$ 22,691.00
174,472.00
21,951.00
983.00
1.036.98
$221,133.98
-45-
GOLF COURSE FUND
STATEMENT OF INCOME AND EXPENSE ( Cont'd)
Operating expenses ( cont'd):
Maintenance of course and grounds (cont'd):
Telephone
$ 401.00
Light and power
3,907.00
Fuel
396.00
Fertilizer and chemicals
5,692.00
Sand, gravel and rock
1,348.00
Blacktop
788.00
Sod, tree replacement, etc.
2,384.00
Repairs
3,335.00
Supplies
5,219.00
Equipment operation
14,820.00
Other
487.00
$ 99,867.00
$170,589.00
$ 50,544.98
Income on investments
$ 29659.00
Net income - operating departments -
see separate schedule
16,051.00
18 710.00
INCOME BEFORE
INTEREST AND
DEPRECIATION
69,254.98
Interest expense:
On bonds
$ 20,998.00
On loan from Liquor Dispensary Fund
8,575.00
29,573.00
INCOME BEFORE
DEPRECIATION
$ 39,681.98
Provision for depreciation
8,545.00
NET INCOME $ 31,136.98
-46-
GOLF COURSE FUND
STATEMENT OF INCOME AND EXPENSE - OPERATING DEPARTMENTS
VILLAGE OF EDINA
Year Ended December 31, 1973
Driving range:
Revenue
Less operating expenses:
Salaries and wages
Replacement balls
Supplies
Provision for depreciation
Grill:
Sales:
Food
Beer
Other
Less cost of goods sold:
Food
Beer
Less operating expenses:
Salaries and wages:
Manager
Cooks, waiters and waitresses
Supplies
Repair work
Expenses - prorated
Provision for depreciation
$24,923.00
$ 7,455.00
2,141.00
217.00
345.00 10,158.00
$34,832.00
14,578.00
208.00
$49,618.00
$20,982.00
4,113.00 25,095.00
$24,523.00
$ 3,849.00
14,686.00
$18,535.00
538.00
644.00
2,486.00
12034.00 23,237.00
NET INCOME
$14,765.00
1,286.00
$16,051.00
-47-
GOLF COURSE FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December 31, 1973
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
Balance Balance
January 1, December 31,
1973 Additions 1973
$ 726,414.02 $ 726,414.02
$ 174,202.26 $21,873.66 $ 196,075.92
6,491.92 6,491.92
2,212.64 2,212.64
$ _182,906.82 $21,873.66 $ 204,780.48
15,018.15 15,018.15
9,627.32 9,627.32
$ 71,108.77 $ 2,376.22 $ 73,484.99
8,805.91 8,805.91
5,159.79 5,159.79
6,160.93 6,160.93
10,341.53 10,341.53
$ 101,576.93 $ 2,376.22 $ 103,953.15
6,892.56 ( 6,892.56) -
$12042,435.80 $17,357.32 $1,059,793.12
$ 34,688.95 $ 7,229.67 $ 41,918.62
5,764.47 798.98 6,563.45
2,704.77 515.99 3,220.76
5,431.43 344.59 5,776.02
7,518.76 1,034.16 8,552.92
$ 56,108.38 $ 9,923.39 $ 66,031.77
$ 986,327.42 $ 7,433.93 $ 993,761.35
-48-
GOLF COURSE FUND
BONDS PAYABLE
VILLAGE OF EDINA
December 31, 1973
Annual maturities and interest dates December 1
and June 1
Interest rates 3.0% to 3.5%
Year
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 $595,000.00
-49-
RECREATION CENTER FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1973
ASSETS
Cash:
On deposit (deficit)
Working fund
Accounts receivable
Due from other funds
Merchandise inventory - at cost
Prepaid insurance
Fixed assets - on the basis of cost:
Land improvements
Buildings
Furniture equipment
Less allowances for depreciation
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)
($129,863.73)
1,000.00 ($128,863.73)
24,260.38
12,000.00
591.31
1,054.10
$ 39,160.06
883,595.87
$45,686.07
26,193.42 19,492.65 942,248.58
$851,290.64
$100,000.00
170,000.00
10,200.00
$265,598.58
1,650.00
$ 9,618.45
2,060.65
4,896.68
280,200.00
6,316.00
405,000.00
267,248.58
36,500.00
( 160,549.72)
$8511290.64
-50-
RECREATION CENTER FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year Ended December 31, 1973
-51-
Appropriated
Contributed
Invested
Invested
in Fixed
in Fixed
For Debt
Unappropriated
Assets
Assets
Service
Total
Balance (deficit)
at January 1, 1973
($ 29,412.64)
$146,089.51
$2,750.00
$36,500.00
$185,339.51
Addition:
Fixed assets
purchased
( 78 749.71)
($108,162.35)
78 749.71
224,839.22
2,750.00
36,500.00
78 749.71
264,089.22
Deduction:
Net loss for year
( 12,728.01)
($120,890.36)
$224,839.22
$2,750.00
$36,500.00
$264,089.22
Transfers in (out):
Payment of bonds
( 40,000.00)
40,000.00
409000.00
Provision for
depreciation
4,432.07
( 3,332.07)
( 1,100.00)
( 4,432.07)
Payment of amounts
due to other funds
( 4,091.43)
4,091.43
4,091.43
Balance (deficit) at
December 31, 1973
($160,549.72)
$265,598.58
$1,650.00
$36,500.00
$303,748.58
-51-
RECREATION CENTER FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1973
Balance at January 1, 1973
Additions:
Sale of investments
Decrease in inventory
Deductions:
Excess of expenses over revenue
see separate schedule
Less provision for depreciation
not requiring cash
Increase in accounts receivable
Increase in prepaid insurance
Fixed assets purchased
Payment of bonds
Decrease in deferred income
Decrease in liabilities:
Balance at January 1, 1973:
Accounts payable
Accrued payroll
Accrued interest
Due to other funds
Balance at December 31, 1973:
Accounts payable
Accrued payroll
Accrued interest
Due to other funds
$ 120728.01
4,432.07
$ 1031809.52
2,548.72
5,405.01
284,291.43 $303,054.68
$14,932.00
1,331.98
$ 8,295.94
13,454.04
40.80
78,749.71
40,000.00
3,158.00
$ 3,849.68
16,263.98
$ 209113.66
$ 9,618.45
2,060.65
4,896.68
280,200.00 296,775.78 6,278.90 149,977.39
Balance (deficit) at December 31, 1973 ($129,863.73)
-52-
RECREATION CENTER FUND
STATEMENT OF INCOME AND EXPENSE
VILLAGE OF EDINA
Year Ended December 31, 1973
Revenues:
Season tickets
Daily skating fees
Spectator fees
Ice rental
Skate sharpening and repair
Other
Concession income
Less operating expenses:
Cost of food sold
Salaries and wages
Operating expenses:
Salaries and wages:
Manager
Supervision and clerical
Police
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
$ 6,952.00
2,365.00
$13,167.00
2,131.00
1,062.00
2,009.00
11,902.00
12,098.00
33,569.00
900.00
$26,915.00
16,949.00
11,640.00
22,191.00
1,249.00
1,119.00
1,461.00
9,869.00
1,429.00
$15,681.00
9,317.00
$76,838.00
$ 321169.00
6,034.00
15,452.00
124,086.00
6,372.00
616.99
6,364.00
191,093.99
Audit
800.00
Insurance
1,569.00
Rubbish hauling
800.00
Other
1,466.00
97,457.00
174,295.00
INCOME BEFORE INTEREST AND
DEPRECIATION
$ 16,798.99
Interest expense:
On bonds
$14,895.00
On loan from Liquor Dispensary
Fund
10,200.00
25,095.00
LOSS BEFORE
DEPRECIATION
$ 89296.01
Provision for depreciation
4,432.00
NET LOSS $ 12,728.01
-53-
RECREATION CENTER FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December 31, 1973
ASSETS
Land improvements
Buildings
Furniture and equipment
ALLOWANCES FOR DEPRECIATION
Furniture and equipment
NET BALANCE
Balance
January 1,
1973
Balance
December 31,
Additions 1973
$ 39,160.06 $ 39,160.06
8072824.56 $75,771.31 883,595.87
42,707.67 2,978.40 45,686.07
$8899692.29 $78,749.71 $968,442.00
21,761.35 4,432.07 26,193.42
$867,930.94 $74,317.64 $942,248.58
-54-
Annual maturities and interest
dates
Interest rate
Year
1974
1975
1976
1977
1978
1979
1980
1981
1982
RECREATION CENTER FUND
BONDS PAYABLE
TOTAL
VILLAGE OF EDINA
December 31, 1973
March l and March 1 and
September 1 September 1
3.1% to 3.3% 3%
February 1
and August 1
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
103,000.00
40,000.00
200000.00
10,000.00
10,000.00
40,000.00
20,000.00
10,000.00
10,000.00
40,000.00
30,000.00
15,000.00
10,000.00
55,000.00
30,000.00
15,000.00
102000.00
55,000.00
30,000.00
15,000.00
45,000.00
30,000.00
152000.00
45,000.00
30.000.00
15.000.00
45.000.00
$230,000.00 $115,000.00 $60,000.00 $405,000.00
-55-
GUN RANGE FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1973
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 $863.16
Less allowance for depreciation 314.20
Construction in progress
LIABILITIES AND SURPLUS
Accounts payable
Accrued payroll
Due to other funds
Surplus:
Invested in fixed assets:
Direct
Contributed:
Property donated by others
Unappropriated (deficit)
$ 4,475.00
46,720.90
548.96
2,576.57
$ 9,321.43
($21,459.18)
250.00
30.00
476.00
54,321.43
$33,618.25
$ 325.30
97.50
1,176.73
45,000.00 54,321.43
( 22,302.71)
$33,618.25
-56-
GUN RANGE FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year Ended December 31, 1973
Balance (deficit) at January 1, 1973
Deduction:
Net loss for year
Transfers in (out):
Fixed assets purchased
Provision for depreciation
Property donated by others
Balance (deficit) at December 31, 1973
Unappropriated
($16,915.68)
( 2,759.60)
( 2,853.73)
226.30
($22,302.71)
Invested in Fixed Assets
Direct
$11,694.00
2,853.73
( 226.30)
( 5,000.00)
$ 9,321.43
Contributed
$40,000.00
5,000.00
$45,000.00
-57-
GUN RANGE FUND
STATEMENT OF INCOME AND EXPENSE
VILLAGE OF EDINA
Year Ended December 31, 1973
Revenues:
Range fees:
Rifle
Pistol
Trap
Firearm safety construction
Sale of ammunition
Concessions
Sale of lead
Sale of brassards
Operating expenses:
Salaries and wages:
Supervision and clerical
Maintenance
Light and power
Telephone
Insurance
Supplies
Concession commodities
Ammunition and targets
Other
Provision for depreciation
$1,453.00
1,220.00
655.00
188.00
$3,516.00
1,271.00
415.00
11.00
72.00
$5,285.00
$2,403.00
531.00 $2,934.00
1,328.00
151.00
465.00
706.00
347.00
1,819.00
68.60
7,818.60
LOSS BEFORE DEPRECIATION
$2,533.60
226.00
NET LOSS
$2,759.60
-58-
GUN RANGE FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1973
Balance (deficit) at January 1, 1973
($11,894.19)
Additions:
Revenue - see separate schedule
for detail
$5,285.00
Decrease in prepaid insurance
402.00
Decrease in due from other funds
19.00
5,706.00
($'6,188.19)
Deductions:
Expense for the year - see
separate schedule
$8,044.60
Less provision for depreciation
not requiring cash
226.30
$7,818.30
Fixed assets purchased
2,853.73
Decrease in amounts payable:
Balance at January 1, 1973:
Accounts payable
$ 237.35
Accrued payroll
64.85
Due to other funds
5,896.29
$6,198.49
Balance at December 31, 1973:
Accounts payable
$ 325.30
Accrued payroll
97.50
Due to other funds
1,176.73
1,599.53
4,598.96
15.270.99
Balance (deficit) at December 31, 1973 ($21,459.18)
-59-
GUN RANGE FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December 31, 1973
ASSETS
Land improvements
Building
Furniture and equipment
Construction in progress
ALLOWANCE FOR DEPRECIATION
Furniture and equipment
M
Balance
January 1,
1973
$ 4,475.00
46,720.90
586.00
$51,781.90
$51,781.90
December 31,
Additions 1973
$ 4,475.00
46,720.90
$ 277.16 863.16
$ 277.16 $52,059.06
2,576.57 2,576.57
$2,853.73 $54,635.63
87.90 226.30
NET BALANCE $519694.00 $29627.43
71 /. .1A
$54,321.43
-60-
PARK SINKING FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1973
ASSETS
Cash:
Demand deposits
$ 25 085.61
Time deposits
100,000.00
$125,085.61
Investments - at cost:
United States Treasury notes
25,000.00
Receivables:
Taxes receivable - current and delinquent
$ 75 270.05
Taxes receivable - deferred
331,000.00
$406;270.05
Less allowance for delinquent and
uncollectible taxes
20,420.05
385,850.00
$535,935.61
LIABILITIES, RESERVE AND SURPLUS
Amount payable during 1974:
Interest
$ 14,230.00
Bonds
50,000.00
$ 64,230.00
Bonds payable
$390,000.00
Less current portion - shown above
50,000.00
340,000.00
Reserve for future interest
$ 61,515.00
Less current portion - shown above
14,230.00
47,285.00
Unappropriated surplus
84.420.61
$535,935.61
-61-
a
PARK SINKING FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year Ended December 31, 1973
Balance at January 1,1973 $ 73,752.85
Additions:
Income on
investments
$ 4,293.70
Transfers:
Reserve
for future interest
$16,040.00
Reserve
for uncollectible taxes
7,770.00
23,810.00 28,103.70
$101,856.55
Deductions:
Allowance
for delinquent taxes
$ 1,210.94
Payment to
fiscal agents:
Interest
$16,040.00
Service
charge
185.00
16,225.00 17.435.94
Balance at December 31, 1973 $ 84,420.61
7-62-
PARK SINKING FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1973
Balance at January 1, 1973
Additions:
Tax settlements received from county:
February 1973
June 1973
July 1973
December 1973
Income on investments
Sale of investments
Deductions:
Payment to fiscal agents:
Principal
Interest
Service charges
$100,125.85
$ 508.23
2,323.61
36,296.71
32,830.51 $71,959.06
4,293.70
14,932.00 91,184.76
$191,310.61
$50,000.00
16,040.00
185.00 66,225.00
Balance at December 31, 1973 $125,085.61
-63-
PARK SINKING FUND
BOND AND INTEREST MATURITIES AND DEFERRED TAX LEVIES
VILLAGE OF EDINA
December 31, 1973
Annual maturities and interest dates
Interest rates
Year Bonds
1975
$ 50,000.00
1976
40,000.00
1977
50,000.00
1978
50,000.00
1979 500000.00
1980 50,000.00
1981 50,000.00
TOTAL $340,000.00
March 1,
June 1,
September 1,
and
December l
2.9% to 3.9%
-64-
Deficiency
(Excess)
of Deferred
Levies Over
Bond and
Interest
Deferred
Interest
Maturities
Levies
$12,380.00
($10,620.00)
$ 73,000.00
10,530.00
( 12,470.00)
63,000.00
8,775.00
( 5,225.00)
64,000.00
6,825.00
( 8,175.00)
65,000.00
4,875.00
( 11,125.00)
66,000.00
2,925.00
52,925.00
975.00
50,975.00
$47,285.00
$56,285.00
$3312000.00
-64-
PARK CONSTRUCTION FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1973
ASSETS
Cash on deposit (deficit)
Due from other funds
Donation receivable
Fixed assets at cost:
Land $ 8579376.00
Construction in progress 656,703.54
LIABILITIES, RESERVE AND SURPLUS
Trade accounts payable
Due to other funds
Reserve for construction (deficit)
Surplus:
Invested in fixed assets:
Direct $194642079.54
Contributed 50,000.00
($ 549445.95)
3,990.68
29,000.00
1,514,079.54
$194929624.27
$ 6,125.95
77,612.24
( 1051193.46)
1,514,079.54
$1,492,624.27
-65-
PARK CONSTRUCTION FUND
ANALYSIS OF RESERVE FOR CONSTRUCTION
VILLAGE OF EDINA
Year Ended December 31, 1973
Balance (deficit) at January 1, 1973
Additions:
Transfer from Liquor Dispensary Fund
Donation for Brian Wippermann
Gun Safety Range
State Grant — Office of Local and Urban Affairs
State Grant - Minnesota Historical Society
Insurance settlement - 44th Street property
Other 1,240.15 174,664.15
$ 85,054.86
190,248.32
Balance (deficit) at December 31, 1973 ($1059193.46)
$80,000.00
5,000.00
74,424.00
4,000.00
10,000.00
($ 89,609.29)
Deductions:
Purchase of fixed assets
PARK CONSTRUCTION FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1973
Balance (deficit) at January 1, 1973
Additions:
Transfer from Liquor Dispensary Fund
Donation for Brian Wippermann
Gun Safety Range
State Grant - Office of Local and Urban Affairs
State Grant - Minnesota Historical Society
Payment received on accrual at December 31, 1972
Proceed insurance settlement
Other
Increase in liabilities:
Balance at December 31, 1973:
Accounts payable
Due to other funds
Balance at January 1, 1973:
Due to other funds
Deductions:
Purchase of land
Purchase of fixed assets
$ 803,000.00
4,000.00
74,424.00
4,000.00
9,987.72
10,000.00
1,240.15
$ 69125..95
77,612.24
$83,738.19
($111,110.01)
16,487.00 67,251.19 250,903.06
$139,793.05
$ 579048.40
137,190.60 194,239.00
Balance (deficit) at December 31, 1973 ($ 549445.95)
-67-
PARK CONSTRUCTION FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December 31, 1973
Balance
Balance
January 1,
December 31,
1973
Additions
Deductions 1973
Land:
Braemar Park
$ 2662888.85
$ 2669888.85
Pamela Park
29440.00
2,440.00
Division Park
438.27
438.27
Mud Lake
456,973.07
$ 493,048.40
5060021.47
Cornelia Park
20,286.36
89000.00
281286.36
Morton Arneson Park
2,551.05
2,551.05
Parkbury Estate
50,750.00
50,750.00
$ 8009327.60
$ 57,048.40
$ - $ 8579376.00
Construction in progress:
Pamela Park
$ 2520371.78
$ 2,912.07
$ 2559283.85
Braemer Park
64,346.84
21,639.05
85,985.89
Mud Lake
189002.08
10.00
18,012.08
Historical site
422448.44
209639.96
63,088.40
Weber Park
23,223:30
669.37
2,892.67
Beard Park
10,579.06
765.23
11,344.29
Heights Park
2,953.24
2,953.24
Walnut Ridge Park
1031703.81
10,836.00
21,539.81
Cornelia School Park
29752.74
29752.74
Garden Park
7,682.88
230.23
70913.11
Braemer Sports Complex
759303.79
27,586.19
102,889.98
Creek Valley School Park
113497.37
22526.36
149023.73
Highlands Park
62825.75
61.50
69887.25
Gun Range
-
1,196.92
19176.73(A) 20.19
Nine Mile Creek
29263.20
22263.20
Alden Park
937.67
937.67
Division Park
32801.50
292.31
49093.81
Countryside Park
775.61
79176.13
79951.74
Cornelia Park
445.00
183,242.88
181687.88
Lake Edina Park
792.23
23,325.00
3,117.23
Chowen Park
472.65
472.65
Sherwood Pump Park
349.14
349.14
Braemer Arena and Pavilion
-
14,798.76
142798.76
Arden Park
59541.50
59541.50
Tingdale Park
187.20
187.20
Hyde Park
246.84
246.84
Arneson Acres
-
785.00
785.00
Normandale Park
-
110063.50
1,063.50
44th Street Property
-
600.00
600.00
Golf Course
-
29813.95
29813.95(B) -
Yorktown Park
-
20.19
20.19
S 523,503.62
$137,190.60
$3,990.68 $ 656,703.54
$123239831.22
$194,239.00
$3,990.68 $1,514,079.54
(A) Transferred to Gun Range Fund.
(B) Transferred to Golf Course
Fund.
-68-
IMPROVEMENT FUNDS
COMBINED BALANCE SHEET
VILLAGE OF EDINA
December 31, 1973
Total
Eliminations
Construction
ASSETS
Cash (deficit):
Demand deposits
($
466,988.54)
($1,093,881.16)
Time deposits
1,650,000.00
$
1,183,011.46
$ -
($1,093,881.16)
Investments
20256,000.00
Receivables:
Special assessments:
Current- certified in 1973 -
collectible in 1974
$
1,383,423.65
Delinquent
475,988.06
Deferred
5,575,846.14
Assessments receivable - Village
share of projects:
Deferred
211,753.95
$
7,647,011.80
$ -
$ -
Less allowance for delinquent
and uncollectible taxes
834,539.25
$
6;812,472.55
$ -
$ -
Due from other funds
435,366.82
231,007.85
Due from Construction Fund
for advances
-
19187,956.71
Due from Minnesota State -Aid Fund
250,000.00
Construction in progress:
Current
2,380,361.78
2,380,361.78
Deferred
127,149.42
127,149.42
Unallocated construction cost
169,214.41
1,699.25
$13,613,576.44
$1,187,956.71
$19646,337.14
LIABILITIES, RESERVE
AND SURPLUS
Accounts payable
$
2,027.69
Accrued interest
30,992.83
Due to Hennepin County
7,009.90
Due to other funds
251092.07
$ 246,192.28
Construction contracts payable
127,204.17
127,149.42
Advance from Improvement Funds
-
$1,187,956.71
19187,956.71
Bonds payable
9,830,000.00
Construction deposits
44,421.33
44,421.33
Reserve for assessment
adjustments
103,925.62
Reserve for construction
40,617.40
402617.40
Unappropriated surplus (deficit)
3,175,985.43
$13,613,576.44
$1,187,956.71
$1,646,337.14
Permanent
Sanitary
Improvement
Municipal
Advance
Improvement
Sewer
Bond
State -Aid
Funding
Revolving
No. 53
Redemption
Street Bonds
Highway Bonds
$ 17,395.18
$ 1,831.72
$ 323,527.23
($ 423.82)
$ 284,562.31
400,000.00
11250,000.00
$ 17,395.18
$ 1,831.72
$ 723,527.23
($ 423.82)
$1,534,562.31
1904000.00
75,000.00
94110000.00
1,050,000.00
$ 3,935.35
$1,379,488.30
33,149:92
$ 8,836.11
434,002.03
1,045.58
5,574,800.56
211,753.95
$ 38,130.85
T8,836.11
$7,600,044.84
$ _
_
33,398.97
8,836.11
792,304.17
$ 4,731.88
$ -
$6,807,740.67
$ -
$ _
200,054.75
4,304.22
1,187,956.71
250,000.00
167.515.16
$412,181.81 $76,831.72 $9,832,043.99 $249,576.18 $2,584,562.31
$ 2,027.69
30,992.83
7,009.90
$ 5,199.79
54.75
$40,000.00 7,040,000.00 $250,000.00 $2,500,000.00
7,073.06 96,852.56
399,908.96 36,831.72 2,655,106.26
( 423.82) 84,562.31
$4123,181.81 $76,831.72 $9,832,043.99 $249,576.18 $2,584,562.31
-69-
IMPROVEMENT FUNDS
STATEMENT OF SURPLUS - UNAPPROPRIATED
VILLAGE OF EDINA
Year Ended December 31, 1973
Permanent
Improvement
Total
Revolving
Balance (deficit) at January 1, 1973
$2,979,896.75
$363,376.83
Additions:
Interest spread on assessments for
collection in 1974
$ 339,408.19
$ 257.11
Income on investments
267,347.44
8,975.93
Capitalized interest
27,772.78
38.36
Other
622.40
4.50
Transfer from Reserve for Assessment Adjustments
12,673.60
$ 647,824.41
$ 9,275.90
Deductions:
Interest on bonds
$ 479,181.82
Bank service charges
22361.87
Cancellation and adjustments
151.50
Legal cost of bond sale
2,512.50
$ 484,207.69
$ -
$3,143,513.47
$372,65273
Change in reserve for delinquent taxes
32,471.96
( 763.00)
$3,175,985.43
$371,889.73
Transfer
-
28,019.23
Balance (deficit) at December 31, 1973
$3,175,985.43
$399,908.96
-70-
Municipal
Advance
Sanitary
Improvement
State -Aid
Funding
Sewer
Southdale
Bond
Street
Highway
No. 53
Improvement
Redemption
Bonds
Bonds
$34,685.95
$15,363.78
$2;505,339.14
($423.82)
$ 61,554.87
$ 339,151.08
$ 5,512.92
$ 81.60
91,299.23
$161,477.76
27,734.42
617.90
12,673.60
$ 5,512.92
$12,755.20
$ 458,802.63
$ -
$161,477.76
$ 2,790.00
$ 75.00
$ 338,191.82
$138,125.00
84.00
24.75
11907.80
345.32
151.50
2,512.50
$ 2,874.00
$ 99.75
$ 342,763.62
$ -
$138,470.32
$37$24.87
$28,019.23
$2,621,378.15
($423.82)
$ 84,562.31
( 493.15)
33,728.11
$362831.72
$28,019.23
$2,655,106.26
($423.82)
84,562.31
( 28,019.23)
$36,831.72
$ -
$2,655,106.26
($423.82)
$ 84,562.31
-70-
IMPROVEMENT FUNDS
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1973
Balance (deficit) at
January 1, 1973
Additions:
Collections on special
assessments:
By County Auditor
By Village
Sale of investments and
interest thereon
Advance from Improvement
Bond Redemption Fund
Payment received on
connection charges
Construction deposits
received
Payment received from
.Minnesota State -Aid
Street Fund
Collection received
on account at
December 31, 1972
Payment received for
another fund
Other
Combined Construction
$ 509,776.63 $ 26,962.77
$1,503,044.04
393,972.99
4,303,764.12
5002000.00 $ 5002000.00
18,343.01
5,707.71 5,707.71
431,533.03 36,533.03
802052.42 49,934.81
32,796.70 32,741.95
466.40
$7,269,680.42 $ 624,917.50
Deductions:
Construction costs
charged to others:
General Fund
$ 17,152.26
Permanent Improvement
Revolving Fund
4,592.71
Park Fund
1,833.79
Improvement Bond
Redemption Fund
633,121.35
Sewer Rental Fund
62,057.88
Waterworks Fund
67,758.97
Park Construction
Fund
77,612.24
State of Minnesota
Highway Department
State -Aid Division
33,607.03
Other
20.272.26
$918,008.49
$ 4,944.96 $16,342.13
234.23
$1,481,756.95
393,738.76
33,862.60 27,413.19 $18,000.00 2,390,744.66
18,343.01
$395,000.00
9,805.11
$1,833,743.67
20,312.50
54.75
466.40
$ - $39,041.79 $43,755.32 $18,000.00 $4,294,909.64 $395,000.00 $1,854,056.17
-71-
Municipal
Joint
Permanent
Sanitary
Improvement
State -Aid
Advance
Sewer
Improvement
Sewer Southdale
Bond
Street
Funding
No. 1
Revolving
No. 53 Improvement
Redemption
Bonds
Highway Bonds
$2,564.40
$ 1,796.63
$ 950.40 $ 268.98
$ 468$13.19
($ 423.82)
$ 9,344.08
$ 4,944.96 $16,342.13
234.23
$1,481,756.95
393,738.76
33,862.60 27,413.19 $18,000.00 2,390,744.66
18,343.01
$395,000.00
9,805.11
$1,833,743.67
20,312.50
54.75
466.40
$ - $39,041.79 $43,755.32 $18,000.00 $4,294,909.64 $395,000.00 $1,854,056.17
-71-
IMPROVEMENT FUNDS
ANALYSIS OF CHANGE IN CASH BALANCE (Cont'd)
Combined
Construction
Deductions (cont'd):
Increase in con-
struction in progress:
Balance at
December 31, 1973:
Current con-
struction $2,380,361.78
Deferred con-
struction 127,149.42
Unallocated 1,699.25
$2,509,210.45
Balance at
January 1,1973:
Current con-
struction $1,526,109.92
Deferred con-
struction 162,646.29
Unallocated 1,699.25
1,690,455.46
$ 818,754.99
Decrease in con-
tracts payable:
Balance at
January 1, 1973 $ 16210646.29
Balance at
December 31, 1973 127,149.42
35,496.87
$ 854,251.86
Less amount due
General Fund for
construction costs
110,524.33 $743,727.53
$131661,736.02
$1,661,736.02
Payment to other
funds accrued at
December 31, 1972
$ 107,799.30
$ 78,772.43
Investments
purchased
198251,316.28
Payment to County
Finance Department
for bookkeeping
charges
1,080.00
Transfer to Con-
struction Fund
500,000.00
Bonds redeemed
1,975,000.00
Interest on bonds
507,938.50
Bank service charge
2,361.87
Refunds and adjustments
7,448.14
Return of construction
deposits
5,252.98
5,252.98
Transfer
_
Cost of bond sale
2,512.50
$4,934,709.57
$ 84,025.41
Balance (deficit) at December 31,
1973 $1,183,011.46($1,093,881.16)
Joint
Permanent
Sanitary
Improvement
Municipal
Advance
Sewer
Improvement
Sewer Southdale
Bond
State -Aid
Funding
No. 1
Revolving
No. 53 Improvement
Redemption
Street Bonds
Highway Bonds
$2,564.40 $ 26,462.47
$1,6349948.66 $190,367.62
1,080.00
500,000.00
$40,000.00 $15,000.00 1,545,000.00 $375,000.00
2,790.00 225.00 346,798.50 201000.00 138,125.00
84.00 24.75 1,907.80 345.32
7,448.14
( 32019.23) 33,019.23
2,512.50
$2,564.40 $23,443.24 $42,874.00 $18,268.98 $4,039,695.60 $395,000.00 328,837.94
$ - $17,395.18 $ 1,831.72 $ - $ 723,527.23 ($ 423.82) $1,534,562.31
-72-
IMPROVEMENT FUNDS
BONDS PAYABLE
VILLAGE OF EDINA
December 31, 1973
Municipal
Sanitary Improvement State -Aid Advance
Sewer Bonds Street Funding
Year Total No. 53 Redemption Bonds Highway Bonds
Annual maturi-
ties and
interest
dates January 1 March 19 June 1 and January 1
and July 1 May 1, June 1, December 1 and July 1
September 1,
November land
December 1
Interest rates
3.1% 2.90% to 5.70%
5.00% 5.40% to 5.70%
1974
$1,870,000.00
$1,245,000.00
$ 625,000.00
1975
3,220,000.00
$40,000.00 2,505,000.00
$ 50,000.00 625,000.00
1976
1,930,000.00
1,105,000.00
200,000.00 625,000.00
1977
1080,000.00
755,000.00
625,000.00
1978
715,000.00
715,000.00
1979
715,000.00
715.000.00
TOTAL $9,830,000.00 $40,000.00 $7,040,000.00 $250,000.00 $2,500,000.00
-73-
ASSETS
CURRENT ASSETS
Cash:
Demand deposits
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
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
Building and equipment
Less allowances for depreciation
Construction in progress
$ 468,210.09
50,000.00
$ 23,588.36
100,000.00
25.000.00
$ 148,588.36
67,015.00
$ 105,228.58
14,728.84
WATERWORKS
BALANCE
VILLAGE OF
December
$ 518,210.09
9,406.25
$ 527,616.34
81,573.36
119,957.42
$ 16,443.49
1,750.00 183,193.49
1,642.00
TOTAL CURRENT ASSETS $ 748,982.61
$ 22,115.14
6,398,067.91
2.441.256.43
$8,861,439.48
2,539,520.13
67,015.00
$ 27,556.38
6,321,919.35
42,209.91 6,391,685.64
$7,207,683.25
FUND
SHEET
EDINA
31, 1973
LIABILITIES AND SURPLUS
CURRENT LIABILITIES
Trade accounts payable
Accrued payroll
Accrued interest payable
Due to other funds
Current maturities of bonds payable
LONG -TERM DEBT
Bonds payable - Note B
Less current maturities - shown above
SURPLUS
Invested in fixed assets:
Direct
Revaluation of fixed assets - Note A
Contributed by special assessments -
Note A
Contributed by General Fund
Appropriated for debt service
Unappropriated
See notes to balance sheet.
TOTAL CURRENT LIABILITIES
$ 365,000.00
55,000.00
$1,329,476.28
21,875.68
4,664,734.40
10,599.28 $6,026,685.64
76,421.25
637,233.63
$ 299617.80
2,778.75
1,657.50
68,288.68
$ 102,342.73
55,000.00
$ 157,342.73
310,000.00
6,740,340.52
$7,207,683.25
-74-
WATERWORKS FUND
NOTES TO BALANCE SHEET
VILLAGE OF EDINA
December 31, 1973
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 car-
ried on the basis of construction cost with contra - credit to surplus contributed
by special assessments. Each of the aforementioned amounts has been reduced by
the 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:
1959 Issue 1963 Issue Total
Annual maturities and interest
dates March 1 and June 1 and
September 1 December 1
Interest rates
3.50%
3. 0070,
3.20. and
3.3070
Annual amount of maturities:
1974
$35,000.00
$ 20,000.00
$ 55,000.00
1975
4031000.00
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 $751000.00
$290,000.00
$365,000.00
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
0
VILLAGE OF EDINA
Year Ended December 31, 1973
Total Unappropriated
Balance at January 1, 1973 $6965831100.64 $545,373.55
Addition:
Watermains contributed by special assessments 96,098.20
$6,754,198.84 $5450373.55
Deduction:
Net loss for year ( 13,858.32) ( 13,858.32)
Transfers in (out):
Provision for depreciation - 224,403.67
Bonds retired - ( 55,000.00)
Additions to fixed assets - ( 65,816.52)
Decrease in appropriation of funds for reserve
.for debt retirement - 2,131.25
Balance at December 31, 1973 $69740,340.52 $637,233.63
( 2,131.25)
$76,421.25
( 103,950.87)
55,000.00
65,816.52
$1,329,476.28
( 119,443.21) ( 327.61) ( 681.98)
$4,664,734.40 $10,599.28 $21,875.68
-76-
Invested in
Fixed Assets
Appropriated
Contributed
Contributed
Revaluation
for Debt
by Special
by General
of Fixed
Service Direct
Assessments
Fund
Assets
$78,552.50 $1,312,610.63
$4,688,079.41
$10,926.89
$22,557.66
96,098.20
$78,552.50 $1,312,610.63
$4,784,177.61
$10,926.89
$22,557.66
( 2,131.25)
$76,421.25
( 103,950.87)
55,000.00
65,816.52
$1,329,476.28
( 119,443.21) ( 327.61) ( 681.98)
$4,664,734.40 $10,599.28 $21,875.68
-76-
WATERWORKS FUND
STATEMENT OF INCOME AND EXPENSE
VILLAGE OF EDINA
Per Cent to
Year Ended December 31 Increase Gross Income
1973 1972 Decrease* 1973 1972
Number of meters in use:
At end of year 10,345 10,004 341
At beginning of year 10,004 9,734 270
Operating income:
Sale of meters
$ 25,747.00
$ 23,516.00
$ 2,231.00
Less cost of meters sold
21,636.00
18,862.00
2,774.00
$ 4,111.00
$ 4,654.00
$ 543.00*
Water sales
499,784.00
419,101.00
802683.00
Penalties
9,256.00
7,639.00
1,617.00
Water connection permits
1,401.00
1,749.00
348.00*
Tapping fees
-
61.00
61.00*
Use of hydrants
14,729.00
14,162.00
567.00
Miscellaneous
3,155.68
1,248.93
1,906.75
$532,436.68
$448,614.93
$83,821.75
100.009. 100.0070
Expenses:
Pumping:
Labor
$ 12,914.00
$ 11,935.00
$ 979.00
Power and light
60,705.00
492246.00
11,459.00
Supplies and repairs
13,597.00
10,807.00
2,790.00
Building:
Labor
3,032.00
3,612.00
580.00*
Fuel and utilities
3,253.00
3,763.00
510.00*
Supplies
752.00
1,793.00
1,041.00*
Repairs
43.00
173.00
130.00*
Insurance
1,431.00
1,235.00
196.00
Water purchased
19,132.00
17,242.00
1,890.00
Provision for depreciation
37,806.00
38,094.00
288.00*
$152,665.00
$137,900.00
$14,765.00
28.6770 30.73%
Distribution:
Labor
$ 28,937.00
$ 19,542.00
$ 9,395.00
Materials and supplies
5,453.00
6,531.00
1,078.00*
Operation of meters:
Labor
193,342.00
17,432.00
1,910.00
Supplies and expenses
3,191.00
2,441.00
750.00
Provision for depreciation
126,918.00
123,524.00
3,394.00
Repairs
62,197.00
9,049.00
53,148.00
$246,038.00
$178,519.00
$67,519.00
46.21 39.79
Tanks, towers and reservoir:
Labor
$ 802.00
$ 1,900.00
$ 1,098.00*
Power and lease lines
1,196.00
11276.00
80.00*
Supplies and expenses
102.00
2,267.00
2,165.00*
Provision for depreciation
38,623.00
38,623.00
-
Insurance
2,022.00
1,358.00
664.00
$ 42,745.00
$ 45,424.00
$ 2,679.00*
8.03 10.12
-77-
WATERWORKS FUND
STATEMENT OF INCOME AND EXPENSE (Cont'd)
Expenses (cont'd):
Water treatment:
Labor
Supplies and expense
Provision for depreciation
Vehicle operations:
.Allocated from equipment
pool
Provision for depreciation
Administrative and general:
Salaries:
Superintendent
Clerical
Meter reading
Meter reading supplies
Office supplies, postage,
telephone, hospitalization,
etc.
Supervision
Provision for depreciation
Professional service
Supplies and expense
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
Per Cent to
Year Ended December 31 Increase Gross Income
1973 1972 Decrease* 1973 1972
$ 6,049.00
15,496.00
19,340.00
$ 40,885.00
$ 9,600.00
1,272.00
$ 102872.00
$ 149280.00
4,983.00
13,175.00
96.00
17,340.00
4,140.00
444.00
6,305.00
1,204.00
1,020.00
$ 62,987.00
$556,192,00
($ 239755,32)
23,308.00
($ 447.32)
$ 139335.00
76.00
$ 13,411.00
($ 13,858.32)
$ 6,319.00
18,472.00
19,298.00
$ 44,089.00
$ 9,120.00
1,524.00
$ 109644.00
$ 1331590.00
3,905.00
13,405.00
159.00
14,640.00
4,140.00
806.00
6.241.00
1,122.00
960.00
$ 58,968.00
$475,544.00
($ 269929.07)
17,826.00
($ 9,103.07)
$ 15,207.00
81.00
$ 15,288.00
($ 24$91.07)
$ 270.00*
2,976.00*
42.00
$ 32204.00* 7.68%
$ 480.00
252.00*
$ 228.00 2.04
$ 690.00
1,078.00
230.00*
63.00*
2,700.00
362.00*
64.00
82.00
60.00
$ 4,019.00
$80,648.00
$ 3,173.75
5.482.00
$ 8,655.75
$ 12872.00*
5.00*
$ 1,877.00*
9.83%
2.38
11.83 13.15
104.46% 106.00%
(-4.46%) ( 6.00 %)
4.38 3.97
( .08 %) ( 2.03 %)
2.52 3.41
$10,532,75 ( 2.60 %) ( 5.44 %)
$2249403.00 $221,869.00 $ 2,534.00
-78
WATERWORKS FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1973
Balance at January 1, 1973
Additions:
Collections on accounts receivable
Collections on amounts due from other funds
Sale of water meters
Income on investments
Sundry sales and service
Sale of investments
Increase in amounts payable:
Balance at December 31, 1973:
Trade accounts
Accrued payroll
Due to other funds
Balance at January 1; 1973:
Trade accounts
Accrued payroll
Deductions:
Payment to fiscal agent:
Principal
Interest
Service charge
Meters purchased
Investments purchased
Additions to fixed assets
Less amount contributed
Payment of sales tax
Operating expenses
Less provision for depreciation
not.requiring cash
Refunds
Summary:
Sinking Fund
Operating Fund
$516,013.68
14,161.88
25,747.00
20,693.00
5,449.93
129,864.00
$ 29,617.80
2,778.75
68,288.68
$1009685.23
$23,348.22
2,273.14 25,621.36 75,063.87
$ 559000.00
13,793.00
76.00
$161,914.72
96,098.20
$556,192.00
224,403.00
$ 68,869.00
24,245.83
4,500.00
65,816.52
18,835.00
331,789.00
77.29
Balance at December 31, 1973
$ 2549755.62
786,993.36
$13,041,748.98
514,132.64
$ 5279616.34
$ 9,406.25
518,210.09
$ 5273,616.34
-79-
WATERWORKS FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December 31, 1973
A s s e
t s
Balance
January 1,
1973
Additions
Deductions
Land
$ 27,556.38
Land improvements
209865.96
$ 12249.18
Distribution system:
Purchased
$ 3532720.94
$ 7,313.74
Contributed by special assessments
5,924,554.37
962098.20
Contributed by General Fund
16,380.66
$622942655.97
$1039411.94
$ -
Buildings and equipment:
Pump houses
$ 3942023.71
Wells
353,519.24
$ 5,411.69
Pumps and piping
181,798.28
Tanks, towers and reservoir
965,579.02
Office equipment
32453.05
Miscellaneous equipment
11,918.74
Water treatment equipment
449,585.66
Automobiles and trucks
112164.60
5,392.00
$23,498.25
Storm sewer
572318.69
42240.00
Tools
350.00
$2,428,710.99
$ 15,043.69
$2,498.25
$897713,789.30
$119,704.81
$2,498.25
Construction in progress
-
42,209.91
TOTAL $8,771,789.30
$161,914.72
$29498.25 .
Balance
December 31,
1973
$ 279556.38
22,115.14
Allowances for Depreciation
Balance Balance
January 1, December 31,
1973 Additions Deductions 1973
7,707,.01 $ 866.18 82573.19
$ 3612034.68
$ 136,603.47
$ 79147.54
$ 1432751.01
60020,652.57
11236,474.96
119,443.21
19355,918.17
16,380.66
6,333.77
327.61
6,661.38
$6,398,067.91
$1,3792412.20
$126,918.36
$ -
$1,506,330.56
$ 394,023.71
$ 1302320.49
$ 152760.94
$ 1463,081.43
358,930.93
148,202.50
13,602.04
1612804.54
1.819798.28
97,321.00
7,577.06
104,898.06
9652579.02
359,048.54
383,622.53
397,671.07
.30453.05
3,320.82
37.15
3,357.97
11,918.74
112245.66
407.36
113,653.02
449,585.66
164,031.45
18,151.54
1822182.99
14,058.35
5,840.38
12271.74
$2,498.25
4,613.87
61,558.69
119164.66
1,188.77
12,353.43
350.00
-
-
$2,441,256.43
930,495.50
$ 96,619.13
$2,498.25
$1,024,616.38
$84888,995.86
$223173614.71
$2242403.67
$2,498.25
$295392520.13
42.209.91
-
-
$8,9319,205.77 $2,317,614.71 $224,403.67 $2,498.25 $2$39,520.13
im
SEWER RENTAL FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1973
ASSETS
CURRENT ASSETS
Cash on deposit (deficit)
Receivables:
From customers
Assessments receivable
Prepaid insurance
Fixed assets:
Land improvements
Sewer mains and lift stations
Furniture and fixtures
Trucks
Equipment and machinery
Less allowances for depreciation
$ 116,758.88
491.03
TOTAL CURRENT ASSETS
LIABILITIES AND SURPLUS
CURRENT LIABILITIES
Trade accounts payable
Accrued payroll
Due to other funds
SURPLUS
Invested in fixed assets:
Direct
Contributed by special assessments
Unappropriated (deficit)
$ 5,388.25
9,166,393.74
2,161.69
8,883.68
42 ,572.70
$99225,400.06
1,303,042.07
($ 94,372.04)
117,249.91
63.00
$ 22,940.87
7,922,357.99
$7,945,298.86
$ 6,527.27
1,671.19
62,057.88
TOTAL CURRENT LIABILITIES $ 70,256.34
$ 77,828.72
7,844,529.27 7,922,357.99
( 47,315.47)
.$7,945,298.86
-81-
SEWER RENTAL FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year Ended December 31, 1973
Balance (deficit) at January 1, 1973
Additions:
Sewer main and lift stations contributed
by special assessments
Net income for year
Transfers in (out):
Provision for depreciation
Additions to fixed assets
Balance (deficit) at December 31, 1973
Invested in Fixed Assets
Unappropriated Contributed
Surplus by Special
(Deficit) Direct Assessments
($134,400.11) $19,969.09 $7,779,075.15
156,497.47
53,900.92
($ 80,499.19) $19,969.09 $7,935,572.62
95,360.40 ( 4,317.05) ( 91,043.35)
( 62,176.68) 62.176.68
($ 47,315.47) $77,828.72 $7,844,529.27
-82-
SEWER RENTAL FUND
STATEMENT OF INCOME AND EXPENSE
VILLAGE OF EDINA
Year Ended December 31
1973 1972
Operating income:
Service charges and penalties $646,445.00 $597,172.00
Expenses:
Operating:
Sewer maintenance and
treatment
Labor
Supplies
Repairs
Water
Power
Provision for depreciation
Other
Vehicle operation:
Allocated from equipment
pool
Provision for depreciation
Administrative and general:
Clerical and supervision
Audit
Supplies, telephone, postage,
hospitalization and retire-
ment
Building rental
Provision for depreciation
Professional services
Legal costs
TOTAL EXPENSES
OPERATING INCOME
Other income:
Miscellaneous
Transfer from Joint Sewer
District No. 1 Fund
NET INCOME
Depreciation computed by the
straight line method charged
to operations
$374,748.00
49,866.00
10,153.00
18,002.00
300.00
8,299.00
93,873.00
$ 7,200.00
1,452.00
$ 8,652.00
$ 7,845.00
1,300.00
10,330.00
900.00
35.00
4,105.00
3.319.00
$ 27,834.00
$592,586.00
$ 53,859.00
$ 41.. 92
$ 41.92
$ 53,900.92
Increase
$49,273.00
Per Cent to
Operating Income
1973 1972
100.0% 100.070
$360,582.00
$14,166.00
51,984.00
2,118.00*
11,521.00
1,368.00*
12,023.00
5,979.00
100.00
200.00
8,483.00
184.00*
92,469.00
1,404.00
919.00
60.00*
$538,081.00
$18,019.00
86.070 90.1%
$ 6,840.00
$ 360.00
1,777.00
325.00*
$ 8,617.00
$ 35.00
1.3 1.4
$ 6,748.00
$ 1,097.00
1,100.00
200.00
9,929.00
401.00
900.00
-
45.00
10.00*
4,841.00
736.00*
-
3,319.00
$ 23,563.00
$ 4,271.00
4.3 4.0
$570,261.00
$22,325.00
91.6% 95.5%
$ 26,911.00
$26,948.00
FT/. 4.5%
$ 73.31 $ 31.39*
2,564.00 2,564.00*
2,637.31 $ 2,595.39*
$ 29,548.31 $24,352.61
$ 95,360.00 $ 94,291.00 $ 1,069.00
.4
8.4% 4.9%
-83-
SEWER RENTAL FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1973
Balance (deficit) at January 1, 1973
Additions:
Collections on accounts receivable
Tax settlements received
Increase in liabilities:
Balance at December 31, 1973:
Trade accounts
Accrued payroll
Due to other funds
Balance at January 1, 1973:
Trade accounts
Accrued payroll
Payment on accruals at December
31, 1972
Other
Deductions:
Expenses for the year
Less provision for depreciation
not requiring cash
Purchase of fixed assets
Other
$ 6,527.27
1,671.19
62,057.88
$ 70,256.34
$3,148.68
1,441.84 4,590.52
($238,883.90)
$635,061.13
584.77
65,665.82
2,564.40
42.14 703,918.26
$465,034.36
$592,586.00
95,360.00 $4972226.00
62,176.68
3.72 559,406.40
Balance (deficit) at December 31, 1973 ($ 94,372.04)
-84-
SEWER RENTAL FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December 31, 1973
Land improvement
Sewer mains and lift station:
Contributed by special assessments
Purchased
Furniture and fixtures
Trucks
Equipment and machinery
A s s e t' s
Balance Balance
January 1, December 31,
1973 Additions 1973
$ 5,269.45 $ 118.80 $ 5,388.25
$8,947,838.39
$8,947,838.39
2,161.69
8,883.68
42,572.70
$9,006,725.91
$156,497.47 $9,104,335.86
62,057.88 62 ,057.88
$218,555.35 $99166,393.74
2,161.69
8,883.68
42,572.70
$218,674.15 $9,2259400.06
Allowances for Depreciation
Balance Balance
January 1, December 31,
1973 Additions 1973
$ 2,177.79 $ 213.14 $ 2,390.93
$1,168,763.24 $91,043.35 $1,259,806.59
620.58 620.58
$19168,763.24 $91,663.93 $1,260,427.17
2,031.84 34.83 2,066.67
6,464.05 1,452.04 7,916.09
28,244.75 1,996.46 30,241.21
$1,207,681.67 $95,360.40 $1,303,042.07
-85-
LIQUOR DISPENSARY FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1973
Current assets:
Cash:
Demand deposits
Deposits in transit
Working funds
Investments - at cost which approximates
market:
Village of Edina - Waterworks Revenue
Bonds of 1959
Accrued interest
United "States Treasury notes
Due from other funds
Merchandise inventory - at the lower of
cost (first -in, first -out method) or
market:
Liquor
Wine
Beer
Mix and miscellaneous
Prepaid expenses:
Unexpired insurance
Supply inventory
Loans to other funds:
ASSETS
$ 13,836.89
42,999.62 $ 56,836.51
3,500.00 $ 60,336.51
$ 17,008.39
198.43 $ 17,206.82
50,924.58 685,131.40
18,954.00
$ 451,080.77
84,895.79
12,967.31
2,636.24 551,580.11
$ 1,748.81
400.00 2,148.81
TOTAL CURRENT ASSETS $ 701,150.83
Golf course
$ 245,000.00
Recreation Center Fund (Arena)
170,000.00
415,000.00
Fixed assets on the basis of cost:
Land
$ 151,448.85
Land improvements
$ 20,997.18
Buildings
385,716.98
Furniture, fixtures and equipment
105,251.61
Leasehold improvements
31,208.29
$543,174.06
Less allowances for depreciation
and amortization
160,258.85
382,915.21
Construction in progress
1,911.00
536,275.06
$1,652,425.89
LIABILITIES
AND SURPLUS
Current liabilities:
Trade accounts payable
$ 97,772.62
Accrued payroll
6,250.88
$ 104,023.50
Surplus:
Invested in fixed assets
$ 536,275.06
Unappropriated
1,012,127.33
1,548,402.39
$1,652,425.89
-86-
LIQUOR DISPENSARY FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year Ended December 31, 1973
Balance at January 1, 1973
Addition:
Net income for year
Deductions:
Transfer to General Fund
Transfer to Park Fund
Transfer to Park Construction Fund
Transfers:
Provision for depreciation
Additions to fixed assets - net
Balance at December 31, 1973
( ) Indicates deduction.
Total
$1,404,205.94
419,196.45
$1,823,402.39
$ 44,559.00
150,441.00
80,000.00
$ 275,000.00
$1,548,402.39
$1,548,402.39
Invested in
Available Fixed Assets
$ 875,880.83 $528,325.11
419,196.45
$13,295,077.28 $528,325.11.
$ .44,559.00
150,441.00
80,000.00
$ 275,000.00 $
$19020,077.28 $528,325.11
17,408.89 ( 17,408.,89)
( 25,358.84) 25,358.84
$1,012,127.33 $536,275.06
-87-
LIQUOR DISPENSARY FUND
STATEMENT OF INCOME AND EXPENSE
VILLAGE OF EDINA
Operating expenses:
Selling
$ 59,536.00
Year
Ended December 31
$
158,485.00
Occupancy
1 9
7 3
16,308.00
50th Street
Yorkdale
Grandview
Total
Sales:
83,629.00
TOTAL OPERATING EXPENSES
$ 103,883.00
Liquor
$ 738,488.00
$ 871,416.00
$623,694.00
$23,233,598.00
Wine
2013,485.00
276,825.00
162,773.00
641,083.00
Beer
213,180.00
238,388.00
135,283.00
586,851.00
Mix and miscellaneous
24,414.00
26,381.00
20,932.00
71,727.00
17,808.00
$1,177,567.00
$1,413,010.00
$942,682.00
$3$33,259.00
Less bottle refunds
6,889.00
5,495.00
2,634.00
15,018.00
NET SALES
$1,170,678.00
$1,407,515.00
$940,048.00
$3,518,241.00
Cost of sales:
$ 92$83.71
$
396,929.45
Income on investments
Inventory at January 1
$ 1941915.56
$ 143,097.30
$159,754.06
$ 497,766.92
Purchases
944,755.51
1,178,290.82
775,812.86
2,898,859.19
419,196.45
$1,139,671.07
$1,321,388.12
$935,566.92
$3,396,626.11
Inventory at December 31
183,230.07
202,960.12
165,389.92
551,580.11
$ 956,441.00
$1,118,428.00
$770,177.00
$2,845,046.00
GROSS MARGIN
$ 214,237.00
$. 289,087.00
$169,871.00
$ 673,195.00
Operating expenses:
Selling
$ 59,536.00
$ 59,267.00
$ 39,682.00
$
158,485.00
Occupancy
15,404.00
22,292.00
16,308.00
54,004.00
Administrative
28,943.00
27,740.00
26,946.00
83,629.00
TOTAL OPERATING EXPENSES
$ 103,883.00
$ 109,299.00
$ 82,936.00
$ 296,118.00
OPERATING INCOME
$ 110,354.00
$ 179,788.00
$ 86,935.00
$
'377,077.00
Other income:
Cash discounts
5,639.00
7,139.00 .
5,030.00
17,808.00
Cash over or (under)
( 16.00)
( 147.00)
40.00
(
123.00)
Other
719.59
869.15
578.71
2,167.45.
$ 116,696.59
$ 187,649.15
$ 92$83.71
$
396,929.45
Income on investments
22,267.00
NET INCOME
$
419,196.45
Depreciation and amorti-
zation included in
expenses $ 4,757.00 $ 6,783.00 $ 5,869.00 $ 17,409.00
0
Per
Cent to Net
Sales
1 9
7 3
1972
Increase
50th
1972
Total
Decrease*
Street
Yorkdale
Grandview
Total
Total
$1,804,266.00
$429,332.00
473,441.00
167,642.00
387,172.00
199,679.00
53,876.00
17,851.00
$2,718,755.00
$814,504.00
9,751.00
5,267.00
$2,709,004.00
$809,237.00
100.0070
100.0070
100.001%
100.00%
100.00%
$ 393,034.14
$104,732.78
2,167,144.78
731,714.41
$2,560,178.92
$836,447.19
497,766.92
53,813.19
$2,062,412.00
$782,634.00
81.70
79.46
81.93
80.87
76.13
$ 646,592.00
$ 269603.00
18.30%
20.54%/
18.07%
19.13%
23.877.
$ 123,778.00
$ 34,707.00
5.08%
4.21%
4.22%
4.51%
4.57%
51,501.00
23,503.00
1.32
1.59
1.73
1.53
1.90
67,743.00
15,886.00
2.47
1.97
2.87
2.38
2.50
$ 243,022.00
$ 53,096.00
8.87%
7.777.
8.82%
8.42%
8.97%
$ 403,570.00
$ 26,493.00*
9.437.
12.77%
9.25%
10.71%
14.90%
13,394.00
4,414.00
.48
.51
.54
.51
.49
( 122.00)
1.00*
( .01 )
937.01
1,230.44
.06
.06
.06
.06
.03
$ 417,779.01
$ 20,849.56*
9.97%
13.33%
9.85%
11.287.
15.42%
22,267.00
-
$ 440,046.01
$ 20,849.56*
$ 11,000.00
$ 6,409.00
0
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 - refrigera-
tion equipment
Heat
Laundry and rug service
Burglar alarm
Insurance
Share of maintenance,
parking lot and traffic
directing
Repairs and maintenance
Provision for depreciation
Rubbish hauling
Janitorial services
Miscellaneous
Water and sewer service
Interest on special
assessments
Administrative:
Salaries and wages
Supplies
Professional services
Allocated expenses -
retirement, insurance,
office supplies, etc.
Miscellaneous
Mileage
Conferences and schools
TOTAL
LIQUOR DISPENSARY FUND
OPERATING EXPENSE
VILLAGE OF EDINA
Year Ended December 31
1 9 7 3
50th Street Yorkdale Grandview Total 50th Street
$ 50,879.00 $ 44,804.00 $33,120.00 $128,803.00 $51,987.00
2,344.00
2,969.00
1,475.00
6,788.00
1,961.00
109.00
74.00
64.00
247.00
99.00
228.00
297.00
156.00
681.00
60.00
5,976.00
11.123.00
4.867.00
21.966.00
274.00
$ 59,536.00 $ 59,267.00 $39,682.00 $158,485.00 554,381.00
$ 148.00
$ 2,969.00
$ 271.00
$ 3,388.00
$ 182.00.
371.00
1,403.00
257.00
1,403.00
121.00
513.00
444.00
384.00
1,341.00
431.00
325.00
1,393.00
384.00
2,102.00
6,540.00
1,482.00
4,831.00
1,838.00
8,151.00
2,017.00
840.00
245.00
841.00
1,926.00
642.00
341.00
541.00
383.00
1,265.00
418.00
561.00
241.00
570.00
1,372.00
567.00
364.00
817.00
456.00
1,637.00
200.00
1,478.00
1,209.00
2,152.00
4,839.00
1,342.00
75.00
180.00
80.00
335.00
2,957.00
632.00
2,332.00
5,921.00
4,203.00
4,757.00
6,783.00
5,869.00
17,409.00
4,700.00
480.00
505.00
480.00
1,465.00
480.00
910.00
910.00
950.00
92.00
218.00
310.00
81.00
99.00
50.00
230.00
71.00
- 289.00
$ 15,404.00 $ 22,292.00 $16,308.00 $ 54,004.00 $16,492.00
$ 19,521.00
$ 20,029.00
$19,514.00
$ 59,064.00
$15,481.00
371.00
359.00
257.00
987.00
121.00
1,404.00
1,404.00
1,404.00
4,212.00
1,168.00
7,260.00
5,280.00
5,220.00
17,760.00
6,540.00
172.00
303.00
336.00
811.00
166.00
215.00
225.00
215.00
655.00
200.00
140.00
140.00
223.00
$ 28,943.00 $ 27,740.00 $26,946.00 ,$ 83,629.00 ,$23,899.00
$103,883.00 $109,299.00 $82,936.00 $296,118.00 $94,772.00
1 9
7 2
1,238.00
_
Yorkdale
Grandview
Total
$31,919.00
.$33,773.00
$117,679.00
1,282.00
1,117.00
4,360.00
54.00
54.00
207.00
351.00
1,160.00
351.00
60.00
104.00
224.00
409.00
274.00
957.00
$34,075.00
$35,322.00
$123,778.00
$ 84.00
$ 47.00
$ 313.00
-18,903.00
136.00
18,903.00
358.00
361.00
1,150.00
92.00
14.00
106.00
1,023.00
1,701.00
4,741.00
Increase - Decrease*
50th Street Yorkdale Grandview Total
$1,108.00* $12,885.00 $ 653.00* $11,124.00
383.00 1,687.00 358.00 2,428.00
10.00 20.00 10.00 40.00
351.00* 351.00*
168.00 237.00 52.00 457.00
5,702.00 10,714.00 4,593.00 21,009.00
$5,155.00 $25,192.00 $ 4,360.00 $34,707.00
$ 34.00* $
2,885.00
1,238.00
17,500.00*
82.00
86.00
325.00
1,301.00
535.00*
3,808.00
$ 224.00
23.00
370.00
137.00
$ 3,075.00
17,500.00*
191.00
1,996.00
3,410.00
86.00
510.00
1,238.00
198.00
159.00
331.00
688.00
230.00
451.00
1,099.00
77.00*
311.00
68.00*
166.00
226.00
367.00
1,160.00
6.00*
15.00
203.00
212.00
183.00
108.00
308.00
164.00
817.00
348.00
1,329.00
844.00
1,542.00
3,728.00
136.00
365.00
610.00
1,111.00
$7910651.00
320.00
320.00
75.00
180.00
240.00*
15.00
36.00
4,239.00
1,246.00*
632.00
2,296.00
19682.00
562.00
300.00
30.00
55.00
343.00
$23,136.00
$15,709.00
136.00
1,258.00
5,738.00
480.00
110.00
37.00
30.00
21.00
$11,873.00
$15,497.00
233.00
1,168.00
11,000.00
1,260.00
1,090.00
92.00
101.00
653.00
$ 51,501.00
$ 46,687.00
490.00
3,594.00
57.00
40.00*
92.00
10.00
6,221.00
205.00
30.00*
55.00*
99.00
131.00
110.00*
181.00
20.00
6,409.00
205.00
180.00*
218.00
129.00
289.00* 343.00* 21.00* 653.00*
$1,088.00* $ 844.00* $ 4,435.00 $ 2,903.00
$4,040.00 $ 4,320.00 $ 4,017.00 $12,377.00
250.00 223.00 24.00 497.00
236.00 146.00 236.00 618.00
4,560.00
4,140.00
15,240.00
720.00
720.00
1,080.00
2,520.00
394.00
64.00
624.00
6.00
91.00*
272.00
187.00
200.00
200.00
600.00
15.00
25.00
15.00
55.00
183.00
102.00
508.00
223.00*
43.00*
102.00*
368.00*
$22,440.00
$21,404.00
$ 67,743.00
$5,044.00
$ 5,300.00
$ 5,542.00
$15,886.00
$7910651.00
$68,599.00
$243,022.00
$9,111.00
$29,648.00
$14,337.00
$53,096.00
us
LIQUOR DISPENSARY FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE
OF EDINA
Year Ended December 31, 1973
Balance at January 1, 1973
$ 21,520.49
Additions:"
Gross sales
$3,533,259.00
Cash discounts
17,808.00.
Interest received on investments
3,471.00
Payment received on accrual at
December 31, 1972
18,775.00
Other revenue
2,044.36
Decrease in prepaid insurance
442.51
Decrease in accounts receivable
2,089.19
3,577,889.06
$3,599,409.55 .
Deductions:_
Merchandise purchased
$2,898,859.19
Bottle refund
15,018.00
Operating expenses
$296,118.00
Less provision for depreciation
not requiring cash
17,409.00
278,709.00
Transfers:
General Fund
$ 44$59.00
Park Fund
150,441.00
Park Construction Fund
80,000.00
275,000.00
Fixed assets purchased, less carrying
value of disposal
25,358.84
Increase in working funds
500.00
Payment made for another fund
179.00
Decrease in liabilities:
Balance at January 1, 1973:
Trade accounts
$146,322.07
Accrued payroll
6,650.44
$152,972.51
Balance at December 31, 1973:
Trade accounts $97,772.62
Accrued payroll 6,250.88
104,023.50
48,949.01
3,542,573.04
Balance at December 31, 1973
$ 56,836.51
ASSETS
Land
Land improvements
Buildings
Furniture, fixtures and
equipment
Leasehold improvement
ALLOWANCES FOR DEPRECIATION
AND AMORTIZATION
Land improvements
Buildings
Furniture, fixtures and
equipment .
Leasehold improvements
Construction in progress
NET BALANCE
LIQUOR DISPENSARY FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December 31, 1973
Balance
January 1,
1973 Transfers Additions
$151,448.85
17,739.38 $ 2,112.00 $ 1,145.80
165,331.92 220,385.06
Balance
December 31,
Deductions 1973
$151,448.85
20,997.18
385,716.98
46,647.74 55,793.95 6,928.52 $4,118.60 105,251.61
31,208.29 31,208.29
$412,376.18 $278,291.01 $ 8,074.32 $4,118.60 $694,622.91
$ 2,763.95
76,972.34
$ 778.07
10,806.51
$ 3,542.02
87,778.85
38,082.47 5,520.75 $3,900.44 39,702.78
28,931.64 303.56 29,235.20
$146,750.40 $ - $17,408.89 $3,900.44 $160,258.85
$265,625.78 $278,291.01 ($ 9,334.57) $ 218.16 $534,364.06
262,699.33 ( 278,291.01) 17,502.68 1,911.00
$528,325.11 $ - $ 8,168.11 $ 218.16 $536,275.06
-91-
CASH - ALL FUNDS
VILLAGE OF EDINA
December 31, 1973
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
American State Bank
Working funds
( ) Indicates deficit in cash balance.
Demand and Working
Time Deposits Funds
$ 925,749.41
167,132.21
$1,092,881.62
290,084.40
17,877.77
72,800.63
( 15,202.16)
60,196.52
( 129,863.73)
125,085.61
( 542445.95)
( 21,459.18)
$21245,899.79
30,992.83
( 1,093,881.16)
$1,18331011.46
$ 518,210.09
9,406.25
$ 527,616.34
( 94,372.04)
$ 550.00
$ 550.00
1,000.00
56,836.51 3,500.00
TOTAL $3,111,047.80 $5,050.00
TOTAL
Total
$ 9269299.41
167,132.21
$1,0939431.62
290,084.40
17,877.77
72,800.63
( 15,202.16)
60,196.52
( 128,863.73)
125,085.61
( 549445.95)
( 21,459.18)
$22245,899.79
30,992.83
( 1,093,881.16)
$1218331011.46
$ 518,210.09
9.406.25
$ 527,616.34
( 94,372.04)
60,336.51
$3,116,097.80
$ 1463,358.32
139,689.48
$ 286,047.80
$2,425,000.00
200,000.00
100,000.00
100.000.00
$2,825,000.00
5,050.00
$3,116,097.80
-92-
SECURITY FOR DEPOSITS
VILLAGE OF EDINA
December 31, 1973
Deposits
Book Bank
First Edina National Bank - demand deposit $ 146,358.32 $ 223,678.32
do - certificates of deposit 2,425,000.00 2,425,000.00
TOTAL $2,571,358.32 $22648,678.32
First Southdale National Bank - demand deposit $ 139,689.48 $ 126,546.35
do - certificate of deposit 200,000.00 2002000.00
TOTAL $ 339,689.48 $ 326,546.35
20,000.00 Federal Deposit Insurance
$ 570,000.00
-93-
S e c u r i t y f or D e p o s i t s
Principal
Amount
Description
Due Date
$ 500,000.00
United States Treasury bond
May
15,
1974
250,000.00
United States Treasury note
August
15,
1974
1,000,000.00
do
November
15,
1978
500,000.00
Evertt, Massachusetts, Street GTD
September
12,
1974
70,000.00
Washington County, Oregon, School District #15
February
1,
1983
65,000.00
Lancaster County, Nebraska, School District #161
August
18,
1983
1004000.00
Hopkins, Minnesota, Improvement bond
January
1,
1984
100,000.00
Robbinsdale, Minnesota, I.S.D. #281
February
1,
1985
10031000.00
Bloomington, Minnesota, I.S.D. #271
February
1,
1985
100,000.00
Cook County, Maine, HSD #207
December
1,
1985
100,000.00
Washington Suburban Sanitary District
July
1,
1986
100,000.00
Hopkins, Minnesota, I.S.D. #274
February
1,
1987
200,000.00
Pennsylvania Variable Purpose
October
15,
1990.
40,000.00
Federal Deposit Insurance
$3,225,000.00
$ 20,000.00
White Bear Lake, Minnesota, I.S.D. #624
April
1,
1975
20,000.00
Eugene, Oregon Bankcroft Improvement
June
1,
1975
20,000.00
Washington Motor Vehicle Fuel Tax Revenue
September
1,
1976
2021000.00
Village of Edina Recreation Center Bonds
September
1,
1977
202000.00
I.S.D. #271 (Bloomington), Minnesota School
Building Bond
February
1,
1979
20,000.00
Columbia Heights, Minnesota, I.S.D. #13
February
1,
1980
20,000.00
Village of Edina Recreation Center Bonds
September
1,
1980
103,000.00
it. Ind. Cons. Sch. Dist. #39 Ramsey County and
#103 Washington County, Minnesota, School
Building Bonds
February
1,
1983
50,000.00
Sedro - Wooley, Washington School District #101
June
1,
1974
502000.00
New Jersey Serial A Turnpike
January
1,
1975
50,000.00
Massachusetts Various Purpose
December
1,
1978
50,000.00
Suffolk County, New York
October
1,
1980
50,000.00
Pontiac School District, Michigan
April
1,
1982
5021000.00
San Ramon, California, United School District
Ser. A
May
15,
1974
100,000.00
United States Treasury notes
December
15,
1976
20,000.00 Federal Deposit Insurance
$ 570,000.00
-93-
SECURITY FOR DEPOSITS (Cont'd)
Deposits
Book Bank
Southwest Fidelity State Bank $ 100,000.00 $ 100,000.00_
TOTAL $ 100,000.00 $ 100,000.00
American State Bank $ 1009000.00 $ 1001000.00..
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
$ 10021000.00' Federal National Mortgage Association March 10, 1976 .
20,000.00 Federal Deposit Insurance
$ 1202000.00
$ 1452000.00 United States Treasury notes February 15, 1976
20,000.00 Federal Deposit Insurance
$ 165;000.00
-94 ..
INVESTMENTS
VILLAGE OF EDINA
December 31, 1973
Description
Maturity
Interest Rate
Face Amount
United States Treasury notes
February
15,
1975
5.75%
$ 200,000.00
Federal Home Loan Bank notes
November
25,
1974
7.05
$ 300,000.00
do
February
25,
1980
7.75
75,000.00
25,000.00
Improvement Funds
2,256,000.00
2,256,000.00
Waterworks
$ 375,000.00
Federal Bank for Cooperative
Liquor Dispensary
67,000.00
68,131.40
$33,263,000.00
Debentures
April
4,
1977
7.70
700,000.00
Federal Land Banks
July
202
1976
5.38
2004000.00
Village of Edina, Minnesota:
1972 Temporary Improvement
Bonds
December
15,
1975
3.50
$1,4005,000.00
1971 Municipal State -Aid
Bonds
.Tune
1,
1975 -1976
5.00
250,000.00
1968 Improvement Bonds
December
1,
1978
4.00
15,000.00
1957 Improvement Bonds
March
1,
1974 -1979
3.90
31,000.00
1955 Improvement Bonds
March
1,
1977
2.90
25,000.00
1963 Waterworks Revenue
Bonds
December
19
1977 -1979
3.20 to 3.30
259000.00
1958 Waterworks Revenue
Bonds
September
1,
1974
3.50
17,000.00
1963 Golf Course Bonds
December
1,
1981 -1987
3.40 to 3.50
15,000.00
1953 Sanitary Sewer Bonds
January
1,
1973
3.10
10,000.00
$1,788,000.00
-95-
TOTAL SECURITIES
$3,263,000.00
FUND OWNERSHIP OF INVESTMENTS
Face Amount
Carrying Amount
December 31,
December 31,
1973
1973
General
$ 750,000.00
$ 750,000.00
Golf Course
15,000.00
12,728.95
Park Sinking
253,000.00
25,000.00
Improvement Funds
2,256,000.00
2,256,000.00
Waterworks
1509000.00
148,588.36
Liquor Dispensary
67,000.00
68,131.40
$33,263,000.00
$3,260,448.71
General Fund - land and miscellaneous investments
36,504:20
TOTAL INVESTMENTS
$3,296,952.91
-95-
Taxable valuation:
Real estate
Personal property
Tax levies extended:
Extended in year
Collectible in year
General
Parks
Bonds and interest
Poor and public nursing
Firemen's relief
Fire protection
Tax rate by mills:
General
Parks
Bonds and interest
Poor and public nursing
Firemen's relief
Fire protection
TAXABLE VALUATIONS, TAX LEVIES AND RATES
VILLAGE OF EDINA
December 31
1973 1972
$308,103,338.00 $279,328,717.00
4,6512955.00 4,289,594.00 .
TOTAL $312,755,293.00 $283,618,311.00
TOTAL
TOTAL
1973
1974
$ 1,659,792..34
198,912.37
72,246.47
15;012.25
5,004.08
15.012.25
$ 1,965,979.76
5.31
.63
.23
.05
.02
.05
6.29
1972
1973
$ 1,595,084.10
187,088.30
71,366.51
17,344.05
5,117.92
14.500.76
$ 1,890,501.64
5.61
.66
.25
.06
.02
.05
6.65
-96-
Position
On file with Village Clerk:
Blanket position
Blanket position
Treasurer
Clerk
Deputy Assessor
Deputy Assessor
Assessor
OFFICIAL BONDS
VILLAGE OF EDINA
December 31, 1973
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
Amount
Surety
$ 5,000.00
American
Casualty
Company
50,000.00
American
Casualty
Company
February
28,
1974
50,000.00
American
Casualty
Company
February
28,
1974
500.00
American
Casualty
Company
February
28,
1974
500.00
American
Casualty
Company
February
28,
1974
500.00
American
Casualty
Company
February
28,
1974
500.00
American
Casualty
Company
-97-
INSURANCE COVERAGE
VILLAGE OF EDINA
December 31, 1973
Other
Fire
and
Extended
Coverage
Building
Contents
Building and contents (A):
Village Hall
$648,000
$ 92,000
Morningside municipal buildings
36,200
4,300
Village garage
529,000
43,000
Municipal liquor store - 50th Street
86,400
26,000
Municipal liquor store - Yorkdale
194,400
56,700
Municipal liquor store - Grandview
72,400
27,000
Municipal golf course club house
194,000
22,000
Municipal recreation center
592,200
129,600
Municipal recreation center - east addition
226,800
97,200
Municipal swimming pool
243,000
Water reservoir
540,000
Parking ramp
378,000
Pumping stations (location):
Wooddale
70,200
59,400
Halifax
27,000
21,600
Southview Lane,
14,000
16,200
Southdale
18,400
16,200
Concord
58,300
83,200
Brookview Heights
21,600
16,200
Hansen Road
18,400
20,500
76th Street
81,000
118,8;00
2nd Street
81,000
118,800
6500 Dewey Hill Road
50,800
16,200
Sherwood
16,200
162200
Mirror Lakes
55,100
161,200
Creek Valley
56,200
37,800
Pamela Park
81,000
21,600
Water tower - Concord Street
226,800
Water tower - 69th Street
345,600
Water tower - Creek Valley
410,400
Sanitary sewer lift station
73,200
43,200
Bathhouse
86,400
13,500
Maintenance building - golf course
9,200
3,200
Range building - golf course
3,200
5,400
Storage building
4,900
Dwelling - Olinger Road
14,000
Dwelling - West 70th Street
61,600
8,100
Grange building
13,000
Cahill School building
5,400
Gun range
47,500
6,500
Office and storage - 5106 Brookside
189,000
16,200
Dwelling - 5120 Brookside
54,000
2,700
Fire station - 6250 Tracy
324,000
16,200
Other
INSURANCE COVERAGE (Cont'd)
Inventories (D):
Liquor store - Yorkdale
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:
Boiler - 50th Street
Boiler - Grandview
Business interruption - 50th Street.
Business interruption - Yorkdale
Business interruption - Grandview
Burglary, robbery and theft - within premises
Burglary, robbery and theft - outside premises
Burglary, robbery and theft - merchandise (C)
Village golf course:
Burglary, robbery and theft - within premises
Burglary, robbery and theft - outside premises
Boiler
Recreation center:
Business interruption
,Business interruption
Burglary, robbery and
Burglary, robbery and
Burglary, robbery and
Boiler
- main building
- east addition
theft - within premises
theft - outside premises
theft - merchandise (C)
Other insurance:
General liability:
Automotive non - ownership, independent contractor,
and Village premises - operations:
Bodily injury
Property damage
Umbrella policy
Fire and
Extended Coverage
Building Contents
$ 20,000
16,500
29,100
33,000
Other
$ 285,000
225,000
160,000
$100 / 300,000
100,000
$100 deductible
50,000
50,000
120,000
80,000
110,000
5,000(B)
5,000(B)
7,500(B)
5,000
5,000
50,000
120,000
50,000
2,500
2,500
2,500
50,000
100 / 300,000
100,000
3,000,000
-99-
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, Yorkdale 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)
625,000
300,000
(F)
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-
ORGANIZATION
VILLAGE OF EDINA
December 31, 1973
Elected,
Term Re- elected or
Expires Appointed
December 31 to December 31
Village Council:
Mayor:
Arthur C. Bredesen, Jr. 1973
James Van Valkenburg 1976
Councilmen:
Richard C. Johnson 1974
C. Wayne Courtney 1976
Willis F. Shaw 1974 1976
June A. Schmidt (A) 1976
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
(A) Appointed by Council to fill unexpired term of James Van Valkenburg.
-101-