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HomeMy WebLinkAbout1950 Liquor Dispensary Fund Report of Examination- .00000. REPORT OF M=N Old AND §UPP UAR,.. LIQUOR DISPENSARY FUND VILLAGE OF EDINA, MINNESOTA December 31, 1950 +moo0do -- 0 00000 —» CONTE ACCOUNTANTS' REPOR`... .a PAG COMMETS•if�pa 6s. e•. s' e• ►�ooe�e♦ ►tlof�a►tla6oia•p }is��p,� T • �A� �Ka�iVii/ 'Si�J+,7i! � • s 1 • • • s O 6. Oo O i tl • • . • ► � �O i � b sO o a tl ♦ o s e r ! Q'�� STATEMENT OF SURPLUSe40tl00.4•0•e40e4e.e00 le0 60 0 0 6 .e.0 12 INCOME AND EXPENSE STATEMENT... 13 SUPPLEMENTARY DATA# ANALYSIS OF CHANGES IN'CASH BALANCES••,a.....p•!... 14 FIXED, ASSETS.. e. p. oe •se�.o.o.v►aeoetlo.o••ep.••.♦vio 15 iYtFUl 1�3Nv��• e• efsa. tl.- o�...aa•.►.a.�fQ.e +►oe�o�e►es�s 16 COMPARATIVE DATA — OTHER MUNICIPAL LIQUOR STORES,e►•.a •!•.•e0000•0000piee.••o•.lp *tfe 17 PAY ROLL SURVEYa MONTH, OF MARCH' 1950 ...... 18 MONTH OF ZuLYg 1950 ..•.., +oeo►so•o.00e,Qpsss•ap. X9 MONTH OF OCT.OBERf 20 MONTH OF DECEMBER, 1950. a..•.utl.:eo.p.tl........6s. 21 -- 00000_.• 6 I 1.6. May 18, 1951 To the Village Council Village of Edina' Minnesota We have examined the balance sheet of the LIQUOR DISPENSARY FUND of the VILLAGE OF RDINA as of December 31 i950t and the related statements of income and expense and surplus for the year then ended. Our examination was made in accordance with generally accepted auditing standards$ and accordingly included such tests of the accounting records and such other auditing pro- cedures as we considered necessary in the circumstances* In our opinions the accompanying balance sheet and statements of income and expense and surplus present fairly the financial position of the LIQUOR DISPENSARY FUND of the VILLAGE OF EDINA at December 319 1950, and the results of its operations for the year then ended, in conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding year. Certified Public Accountants Our certiflcate'or report upon an audit or examination is delivered to client with the distinct understanding that any advertisement, publication, or copy therefrom, in full or in part, of such certificate or report, shall be in the form to be approved by us. .4s a preventire against fraud, attention is directed to the fact that all pages in this report should bear our Crater mark. 40 3- ERNST & ERNST P B "RA MMORAM PHILADELPHIA BOSTON PORTLAND. ME. BUFFALO PROVIDENCE ACCOUNTANTS AND AUDITORS READING CHICAGO CHICAGO CINCINNATI RICHMOND ROCHESTER CLEVELAND ST. LOUIS DALLAS 15 SYSTEM SERVICE ST. PAUL SAN ANTONIO DAYTON SAN FRANCISCO DENVER SEATTLE DETROIT ERIE TOLEDO WASHINGTON FORT WORTH MINNEAPOLIS SALEM GRAND RAPIDS YOU ST OWN YOUNG HOUSTON INDIANAPOLIS KALAMAZOO FIRST NAT L -SOO LINE BLDG. TORONTO, CANADA KANSAS CITY LOS ANGELES LO UI5VILLE DELIVERY ZONE 2 CORRESPONDENT AT LONDON MEMPHIS MIAMI MILWAUKEE CABLE ADDRESS MINNEAPOLIS ERN5TAUDIT" N. Y. May 18, 1951 To the Village Council Village of Edina' Minnesota We have examined the balance sheet of the LIQUOR DISPENSARY FUND of the VILLAGE OF RDINA as of December 31 i950t and the related statements of income and expense and surplus for the year then ended. Our examination was made in accordance with generally accepted auditing standards$ and accordingly included such tests of the accounting records and such other auditing pro- cedures as we considered necessary in the circumstances* In our opinions the accompanying balance sheet and statements of income and expense and surplus present fairly the financial position of the LIQUOR DISPENSARY FUND of the VILLAGE OF EDINA at December 319 1950, and the results of its operations for the year then ended, in conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding year. Certified Public Accountants Our certiflcate'or report upon an audit or examination is delivered to client with the distinct understanding that any advertisement, publication, or copy therefrom, in full or in part, of such certificate or report, shall be in the form to be approved by us. .4s a preventire against fraud, attention is directed to the fact that all pages in this report should bear our Crater mark. 40 3- 6 The following comments relate to the scope of our examinations the accompanying financial statements, merchandise accountability compari. son.with operations of other municipal liquor stores, and pay roll data and sales transactions: SCOPE OF EXAMIN��, 0 Cash working fund and cash for deposit were counted by us on December 31, 19509 Demand deposits were reconciled with the balance reported directly to us by the depository. Our examination of cash transactions in- cluded inspection of canceled checks and comparison thereof with recorded disbursements for periods as selected by us and comparison of recorded receipts for the same periods with deposits as shown by bank statements. 'vendors' claims were compared with recorded disbursements for the same periods, and authorization for payment was traced to minutes of Council meetiM6* Accounts receivable consist of NSF checks, one of which in the amount of $? ?.50 is still uncollected. We were present at the time physical inventory was taken to observe procedures followed and to make test counts of quantities. We reviewed the perpetual record of liquor and wine inventories, made tests as to transactions recordedo and reviewed the adjustment of book quantities to inventory counts. We reviewed the clerical computations and made tests of the prices used in the valuation of the inventory, by reference to pur- chase invoices and other data. The major additions to fixed assets were supported by in- spection of invoices or other data. Computation of the provision for depreciation was reviewed by use The computation and valuation of prepaid expenses were reviewed. Provision has been made for all ascertained liabilities at December 319 1950. Accounts payable were tested by direct correspondence and other data on file, We reviewed the calculation of accrued interest payable and the appropriation of cash for payment of bonds and interest. .J+" V The amount due on property purchase contract was verified by direct correspondence. Canceled bonds which matured and had been redeemed during the year were inspected by us. We made a general review of the system of internal control and of the operating accounts for the year ended December 31, 1950, In- come and expenses were reviewed and tests and analyses of accounts were made as we considered necessary. F,IUAKGIAL § A.T2Z= The detailed comparative statement of income and expense for the calendar years 1950 and 1949 is shown in a separate schedule and is summarized as follows: Sales Cost of goods sold Gross profit Operating expenses Operating income Other deductions NET INCOME Increase 1 150 1 D® ea e $360,2 0.69 $32 .69 831, 20.00 2 2 58 512417 25.401.02 0 . 0 7os32 It 4 9 _2 2 6 6 2 .q�. 1- V�2.3 ,? 7.� 8 2 .' 2 9E?1.73 48051,18 $ 380662.43 $ 996888p45 The factors contributing to the increase in net Income can be summarized as followss Increase in gross profit - attributable to: Increase in sales volume $ 6'719973 Less decrease in gross profit percentage 700.75 ,O1 ,9 . Degrease In operating expenses: Rent $ 1,987925 Office supplies 3210 2 Repairs and maintenance - general 791. Maintenance of parking lot 645.24 Sundry 79.62 Less increases: 3! '' Salaries $ 260,74 .Provision for depreciation 656.10 selling supplies 139 61 , ..j:0,5,623$ 21768.04 Decrease in other deductionss Interest on bonds $ 675.00 Legal expense 225.00 Sundry ,�.... 2912ZB INCREASE IN NET PROFIT 99688.75 � 5o A comparison of total cash balances shows a decrease during the year as follows: January 19 1950 December 31, 1950 Decrease $619153.81 56.12 4., $ 5,024,36 The major factors accounting for such decrease and to the use of the funds provided from net income are the.followings Increase in merchandise inventory 131,710-93 Payment on property purchase contract 144200.00 Payment of bonds payable 1 OOO R 00 $60,910.93 z= az�zz� An analysis of the changes.in cash balances is shown in detail on a separate scheduled _MERCHANDISE ACCOMABIL7TY Compilation of the data - affecting the accountability (at retail case prices) on beer mix$ empties$.and miscellaneous merchandise reflects an excess of credits over charges.in the amount of $384.92 as shown below: Inventory at January 19 1950: Beer and mix Empties Bitters and miscellaneous Purchased during he year: Beer and mix�Including empties) Bitters and miscellaneous Refunds to customers for empties Sales: Beer and mix Bitters and miscellaneous . Inventory at December 319 1950: Beer and mix Empties Bitters and miscellaneous Excess of credits over charges r� TOTAL 4&60 $ 2008M 143.59 110.6644 500469.88 504.24 61088.00 S56s747.26 497.24 241.8 9$ //v •9 -7 09009. I��PY�I -3 4 2. $609009.87 $60009.87 Ab Inventories and purchases shown above have been computed at case prices. As some sales are for less than case lots (resulting in higher unit retail prices), the accountability statement should have credits in excess of chargesq as is the case above. The foregoing statement does not reflect cash over register readings' liquor and wine tags over register readings nor the retail value of net inventory shortages. Such data for the curren and preceding year is summarized as follows: 1920 12�2 Creditss Cash overages' less tag overages S 239.37 423.42 Charges: Retail' value of inventory shortages 2589 393.17 Excess of shortages over overages $ 518.520 30.25) In connection with total inventory difference the major portion occurred at the closing of the year, as shown following a Net Items March 17 June 54 September 1 December 221 �r COMPARISON WITH OEER L12NS OF OTREE M$N,�„ICIPA.L LIMB STORES We reviewed certain data for the gears 1949 and 1950 on file in the office of the State Public Examiner and in the Richfield Municipal Liquor Store for comparison with the operations of the Edina store. A separate schedule is included4 with comparative percentages to sales' for those off -sale stores with approximately the same sales volume. The Richfield store is included because of its proximity' although its sale volume was considerably greater. The percentage of gross profit is shown to be higher in the stores operated by Worthington' Two Harbors Detroit Lakes. We were informed that the Jackson store sold a considerable number of case lotss which would be one factor in reducing its gross profit, -7- A comparison was made of approximately 75 retail prices in the Edina and Richfield stores; items with an aggregate cost value of $195.94 had a slightly higher retail value at the Richfield store the retail values being $248.55 and $254.25 at Edina and Richfieldq respectively. However9 the percentage of gross profit in Richfield was less than that of Edinat which appears to have been caused by a greater percentage of sales being made in Richfield at reduced prices for case lots or special sales. From data obtain ed from the Richfield store, it appears that mark -downs of approximately $220000.00 were made in the year 19501 on special sales of which would have totaled approximately $250,000.00 had the sales been made at regular retail prices. It was noted that several of the stores had no bookkeeper salaries we were informed that the functions were performed by the clerk$ and no urge was made for the services. No data was available as to the number of employees hired in the various stores except for Richfield, which has six regular employees: the manager, accountant and s.ssistantp and three clerks. Part time clerks are also employed$ starting at 4 :00 P.M. as follows: Monday and Tuesday 2 Wednesday and Thursday 1 Friday 2 A third extra clerk is used on Friday starting at 6too P.M. Eight extra clerks are used on Saturday. We were informed that the last salary increase made in Richfield prior to Oecember 31$ 1950, was made on January 1$ 1948. Comparative percentages of gross profit and operating income (before debt service charges) to sales for Edina and Richfield for the years ended December 31$ 1949, and 19509 are as followss Gams Operat g ross Operat' ng 1 a 210 i Income of c 1950 21.19% 14.2 % 2o, 6�3% 14: b8� PAY ROLL DATA A R SHIM nMLCjIqN.8 We reviewed operating data with reference to the relation of personnel and sales. This review covered the months of Marche July,, October, and December 1950$ as representing the relative activity on a somewhat seasonal basis. Sales transactions as shown on the enclosed schedule were taken from a count of transactions on cash register tapes. Alan -hours worked are as shown on time reports on file. No attempt was made to segregate hours spent on duties other than selling. _8. ,0 Pay roll records for the entire calendar year 1950 indicate that the mans er and those assistants on a fixed monthly salary wormed an average of 2U and 179 hours respectively per month. Part time employees were hired for a total of 5990 hours at tie rate of x$1.25 per hour. Average transactions per man -hour are generally higher on Fridays and Saturdays than on other days of the week. The increase in Friday averages can be attributed to the increase in transactions without • corresponding increase in man -hours worked. The Saturday averages reflect • large increase in transactions with the contra effect of more man -hours worked. The following summary reflects the transactions in the four months under review grouped by days after eliminating the day preceding a holidays Mondays Tuesdays Wednesdays Thursdays Fridays Saturdays N Tan t 3,7 (15) 4488 1,083 12.23 12.6o 89206 (((16) (17) 139645 The following summary, as taken from accompanying schedules! compares the activity of employees in the months under reviews Man-ho Transactions fiver__ ale March 9966 1/2 . 109992 11.18 October 887 1/2 100539 11.87 December 19297 129178 9.39 of the two cash registers owned by the Liquor Store, one is an older model which is not suitable for the Store's requirements. Although sales can be registered in the various classifications, the machine does not provide a total of the various types of sales. To obtain each total, it is necessary to add the separate items listed on the cash - register tapes; and because of worn printing type, the cash - register tapes are not always legible. This machine was used on those days immediately preceding holidays, but no attempt was made to classify sales. Each customer's purchases were written on a sales slip, the total of which was rung up on the register. On the following day the sales were rung up on the second register using the data shown on the sales slips for classification. The more modern cash register owned prints a ticket which is tendered to the customer and also accumulates the total of each of the six classifications (beer, liquor, wine, mix, miscellaneousq and paid out). -9- Average Transactions a - o 483 675� 1/2 Per Stan_- hou,�r 7.71 9.29 1,083 12.23 12.6o The following summary, as taken from accompanying schedules! compares the activity of employees in the months under reviews Man-ho Transactions fiver__ ale March 9966 1/2 . 109992 11.18 October 887 1/2 100539 11.87 December 19297 129178 9.39 of the two cash registers owned by the Liquor Store, one is an older model which is not suitable for the Store's requirements. Although sales can be registered in the various classifications, the machine does not provide a total of the various types of sales. To obtain each total, it is necessary to add the separate items listed on the cash - register tapes; and because of worn printing type, the cash - register tapes are not always legible. This machine was used on those days immediately preceding holidays, but no attempt was made to classify sales. Each customer's purchases were written on a sales slip, the total of which was rung up on the register. On the following day the sales were rung up on the second register using the data shown on the sales slips for classification. The more modern cash register owned prints a ticket which is tendered to the customer and also accumulates the total of each of the six classifications (beer, liquor, wine, mix, miscellaneousq and paid out). -9- 9 It would appear that the older of the cash registers is of little use and should be traded in on a new register or sold. It would be advantageous to have a more modern machine as a stand =by which can classify saleso as well as serve only on busy days. During most of the year it appears that one.mach.ne can handle the sales transactions but during the excessively busy days a second machine would be advantageous In processing sales and help to minimize the possibility of customers neglecting to pay for purchases. There probably is some minor amount of loss by reason of customers getting out without payment. ''e suggest that some study be given to possible rearrangement of facilities' particularly the cash register, to expedite handling of customers, Either means could also be studied to minimize losses,, It was noted that some cash register slips are not picked up or are thrown away by customers whereas we think the slips should be visibly attached to the package to assist in checking in case it should be decided to have checking personnel at the door during rush days. It is suggested also that Mr. Kippley Haight be invited to submit his reeom- menda.tions. ..1D® 9 VILLAGE, OF EDINA December 31, 1950 I* SSET9 Cash: Current funds: Demand deposits $260547.35 For deposit 10001749 Working fund _ .1 * 099* ©0 37, 565.34 Appropriated funds: For payment of bonds and interest $ 8,918.75 For payment on property contract _ 2&5.A6 18,564 11 $ 56y129.45 Accounts receivables Customers' NSF checks 113.00 Merchandise inventory • at lower of cost or market: Liquor $85061906 Mine 79802.79 Beer 19934.29 Mix 322.93 Bitters etc. 81.70 95 :502.77 Fixed assets - at cosh Land $160500.00 Land improvements $ 1,546.23 Building 3,900.20 fixtures, and equipment Less allowance for depreciation ,3 4, 050 *41 412- 7, 0„�6 57,82 7.06 Prepaid expenses: Unexpired insurance0 bonds, etc. $ 995.10 Supply inventory 75.00 _ 18-920.1.0 $2109642.38 LIABILITIES Trade accounts payable $ 439964.07 Salaries and wages 852.09 Interests On bonds payable $ 168.71 On property purchase contract 378.6 547.43 Property purchase contract - 4% due April 30, 1451 149200.00 Bonds payable _ 1/2% .+ due $150000,00 annually June-19 19519 to 19539 inclusive -• Note A 459000.00 Surplus: Appropriated: For payment of bonds and interest $ 8,918.75 For payment on property contract 20 5.36 $189564.11 Unappropriated - Note A . 87', 51,68 6 :078 79 $2109642.38 Note A - According to the terms of the bond issue, no funds shall be transferred to any other fund of the Village so long as any of the bonds are outstanding, unless there shall have been appropriated to sinking fund, cash for payment of all bonds and interest to maturity, On April 23, 19519 the remainin balance of the bonds were called for payment on June 1, 19110 --11. LIQUOR SPENSARY F STATEME OF SUR VILLAGE OF EDINA Year ended December 31, 1950 -------------------------------------=------------------------------------------------------------ -------------------------------------------------------------------------------------------------- Bonds and Property Total _ 'Unapprop rated Interest Purchase 4�rw— �..' S.` �r.^'*. a+-,`.. �—`•"'—`.. C+ rS`.. s.` w:. L'.". �7.". � .T.'S.wR`L:'L".�`.��""�"S'y"::— `�.........�."..3.".. �..��.— ..� —... wrap` rr •.S�`.�«— ..L:.".'�'+'S.� —..+�— +`..rte` +Se'r'.L"i`.`.""'ri�.+ Balance at January 1. 1950 $ 57!727.61 38v528657 $80975.00 $109224.04 Additions Net profit for the year Transfers in -out* Balance at December 319 1950 D lak 489351,18 489351,18 •.o� 634.23 �*1 57$.fi8* $1-069078.79 $88779514,668 �$8��09y�1��8�45� $ 9#645 #36 6012. �Yw ��ti�ir�s TvI��W+Y� Yr��M�!4�riY� ��TMtl1Y� 6012.. LIQUOR DISPENSARY T� 0MK,AND XPENS S 'EMS VILLAGE OF EDINA Years ended December 319 19509 and 1949 'Inventory - January lst Purchases Inventory - December 31st COST OF GOODS SOLI? GROSS PROFIT Operating expensess Salaries:. Manager Sales clerks Bookkeeper PER CENT TO NET SALES Provision for depreciations Land improvements Building Furniture 9 f xtures q and equipment Rent Heat Light and power Telephone Insurance and surety bonds Supplies: Selling Janitor Office Repairs and maintenance Burglar alarm service Maintenance of parking lot Laundry service Auditing and accounting Sundry Other deductions: Liquor Revenue Bonds expense: Interest Fiscal agent's service charges Interest on purchase contract Legal services $254,684.2 $308-9 ,170 85.361.06 $ 5791b4.93 20.48% 28 026 ,J23-15 02 612s120,216 $..l. ,795.53 39911 1 4 2 I=m Z2 $ .255.96 '' 2 o .9 22 IL710-05 y - $ 63,791.84 24 2 $ 61,848.46 2 0 4 3 6 3250j_512_g ...., 379, 15.9 02 Per Cent $20 213.19 __._..._..._......_...� other $19279.08 25064% $151,26 .30.42% $ 9,920.68. 19639% $ 769347.50 $ 709328.5'2 21.1911 21.39% Miscel. 1949 o N Liquor Wine Beer Mix laneous Total Total �Total 1950 1 Sales $2802910.79 $279954.03 $509497. 78 $69249.48 $497.24 $571244.50 $3669109.32 $3349738.61 Cash overages, less tag overages - Note A. 2 0 $2519121-34 28.82 2799 . 09 97. $69249.48 97.2 7'088. 0 21 424.42 173359162-* 6366:34 1 9 Less bottle refunds 4.827.65 260 20 NET SALES 1,121.. 7�9 . 9 ?0.1 ,9.9.13 97.2. 1, 0 3 0�2 0. 9 32 9 100.00% 100.00% Cost of sales 'Inventory - January lst Purchases Inventory - December 31st COST OF GOODS SOLI? GROSS PROFIT Operating expensess Salaries:. Manager Sales clerks Bookkeeper PER CENT TO NET SALES Provision for depreciations Land improvements Building Furniture 9 f xtures q and equipment Rent Heat Light and power Telephone Insurance and surety bonds Supplies: Selling Janitor Office Repairs and maintenance Burglar alarm service Maintenance of parking lot Laundry service Auditing and accounting Sundry Other deductions: Liquor Revenue Bonds expense: Interest Fiscal agent's service charges Interest on purchase contract Legal services $254,684.2 $308-9 ,170 85.361.06 $ 5791b4.93 20.48% 28 026 ,J23-15 02 612s120,216 $..l. ,795.53 39911 1 4 2 I=m Z2 $ .255.96 '' 2 o .9 22 IL710-05 $--7 •65 0.• 2 81 $ 2,125.14 39 2 8 2 $ 63,791.84 24 2 $ 61,848.46 2 0 4 3 6 3250j_512_g ...., 379, 15.9 02 5413235, $20 213.19 $ 89861.89 31.67% $ 8,490.34 ,`+w.riiL'• 18.59% $19279.08 25064% $151,26 .30.42% $ 9,920.68. 19639% $ 769347.50 $ 709328.5'2 21.1911 21.39% TOTAL.OPERATING EXPENSES OPERATING INCOME NET INCOME $ 6;982.47 Note A - Cash overages, less the amount by which liquor and wine tags were over register readings, have been allocated to liquor and wine sales in amounts proportionate to the retail value of net inventory shortages of liquor and wine. -13- $ 59352.40 11,151.20 2.454.00 8 189957.60 $ 19476.00 675.79 2,213.64 224.59 5.92 1. .75 732.76 400.66 28,25 407.46 114.23 90.00 178.07 138.35 66 ,8 9 24j298,02 519439* 41 $ 29306.25 24.66 757.32 aor �1N 32 $ 489351.18 $ 49294.56 1.4911 1.30% 1,012.2© 3.6 3.65 189696-o-F6 5068% $ -o- 984.00 573.61 19557.61 1210, 29 171.2 80.37 2618,05 ?28,67 905.27 90.00 823.31 134.20y 680.3/ 2 2 9 2.39 .4111 Ila .o6 04 ,20 Ill .01 .3 .02 Mae -o- % .30 .07 .05 .25 .OS .22 .28 .03 .9 • .21 12.9 $ 2'926.35 1,64% 1� .01 ?57.36 .21 .23 22 -o- 8 389662443 13.42% 11.7611 0 i SUPPLMM=Y DATA L-j LI Qi. OBI' ._2IS PBNSAY____ FUN ANALYSIS S 4,F G jGES,..IN CASH,�.Z VILLAGE OF EDINA Year ended December 319 1950 Balance at January 19 19501 Demand depositst Current account For payment of bonds and interest For payment on property contract Cash for deposit Working funds Funds provided: Net income for the year Charge to income and expense not affecting casht Provision for depreciation Funds applied: Increase in asset accounts: Accounts receivable Merchandise inventory •` Prepaid expenses Decrease in liability accounts: Due to other funds Salaries and wages Interest Property purchase contract Bonds payablo Trade accounts payable Purchase of fixed assets (including special assessments of $1,248.18) Less carrying value of assets traded in * Indicates red figure. —14.e $ 63,781.8 6 9 64, 564.66 $ 331.55 77* 21 982.36 28,400.00 60, 00,00 35.816.86 $126 ,0407,98 $ 113.00 9595Q2.77 �1 $ 969685.87 852,09 547.43 14,200.00 1+59000,00 _Aa:964,07 $1041,563.59 $31., 568..76 10!22 .04 $ 24.35 3.,710.93 381.2.1 9 331.55 2 ,12 43 •93 149200.00 15,000,00 � w8 a 111+71 * 1,660.77 17.1 $54,767.80 9,386.01 1X000.00 8- :351.18 2,213.64 $329121.21 21,841+,,39 6 • Total cash balance at December 31 -, 1950 $ 61,153,81 a � 6 82 44119710,63 8 56,129.1+5 LIQUOR DISPENSARY F ',FIXED ASSETS , VILLAGE OF EDINA Year ended December 319 1950 Land Improvements building, and equipments Land improvements Building Furniture, fixturest and equipment TOTAL LAND IMPROVEMENTS, BUILDING, AND EQ ii 1 Indicates red figures TOTAL .15- $- -o- 369900.00 39468.E $609266.70 $19248.18 $298.05 4126 59 660 228„ $19660.77 $ -o- $$ 1`5 A 9 Allowance f, or Depreciation - . Net Ba nce Balance- _ � Balance Balance Balance January December January Current December December 19 1950 Additions Adjustments Deductions 319 1950 it 1950 Provision Deductions 319 1950 319 1950 184_ 8 2 21 6 12J 8480J0 .& $169798405 $298.05* $160500.00 $ -0- $ -0- .$169500.00 Land Improvements building, and equipments Land improvements Building Furniture, fixturest and equipment TOTAL LAND IMPROVEMENTS, BUILDING, AND EQ ii 1 Indicates red figures TOTAL .15- $- -o- 369900.00 39468.E $609266.70 $19248.18 $298.05 4126 59 660 228„ $19660.77 $ -o- $$ 1`5 $ -o. $ 61.85 $ 61.85 $ 19484.38 369900.00 ?'6 4.00 .19476.00 2946o.00 349440.00 65-01,00 .+.6NA1� 5.58 .675.79 2 1,528.56 �,,5 ,402,68 610-40 5.,,' 79.7 184_ 8 2 21 6 12J 8480J0 .& L 1822.0-6 $50.00 $6198 77.47 $19849.58 $29213.64 $12.81 $4050.41 $570827.06 14QUOR DISPENSARY FUND INSIMANOB, VILS,AGE OF EDINA December 31, 1950 -------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------- Fire and extended coverages Building 80% coinsurance 30!000.00 Contents 90% coinsurance: Furniture and fixtures 40000.00 Merchandise 1009000.00 Business interruption (fire and windstorm)*. 80% coinsurance 509000.00 Burglary and robber 59000,00 Public liability - bodily Injury $1009000.00/ 2009000.00 Glass damage Actual Workmen's compensation Statutory i r.1,6c� VILLAGE OF EDINA Years ended December 319 19499 and 1950 Sales (cents omitted) Percentage to sales; Gross profit Operating expensess Salaries: Bookkeeper - Note A Manager and sales clerks Depreciation and rent Insurance Delivery Other . TOTAL.OPERATING EXPENSE OPERATING INCOME (before debt service) S $3289840 $311+9775 $2179422 $358937+ $5549221 $3609260 $2639098 $2979351 $6570227 21039% 17°22 %' 23.68% 28.00% 20.83% 21.19% 18662% 23659% 20463% 4;95 1.80% 1.07 .40 .25 .21 1 2 140 2 2 12.97% 14.51 4.024 33993 .69 .18 .o6 17.82% 23.23% 62% 3 40 .6 0 •69 7 14.23% Note A - In several of the municipalities the bookkeeping functions are performed by the clerk, and no charge is made to the Liquor Store for the services. B - Data is not available as to the sales, which are included above9 which are made at reduced prices in case lots. -17- 4058 .62 .20 14.28% 2,29% 3.14% 3.67 151 .48 .34 .19 .09 ,42 2 Dd 15.35% 19.59%. 14.68% • . LI II4R DISFB MAJY FUND L PAY BOLL Sim VILLAGE OF EDINA Month of March! 1950 -------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------- ®.. Average _�,._...� Remuiar , .._..�....�..Pt�e Extra To Per- Day Date No. Hours NO* Hours 110. Hours No. Dian -hours Wed, 1 2 14 2 13 4 .27 231 8.56 Thu, 2 2 18 2 16 4 34 215 6,32 Fri. 33 2 16 2 13 4 29 357 12°31 Sat. 4 2 17 5 43 7 60 717 11,95 Mono 6 2 17 2 10 4 27 188 6.96 Tue, 2 1 2 16 4 29 190 6.55 Wed. � 2 14 2 1 4 27 169 6:26 Thu, 9 2 16 2 1 4 32 222 6.94 Fri. 10 2 18 2 4 27 332 12.30 Sato 11 2 21 4 34 6 55 726 13.20 Monti 1 2 lq 2 10 4 2g 167 5. ?6 Tue. 1 2 12 2 16 4 28 189 6. 75 • tied. 15 2 14 2 13 4 27 188 6.96 Thu. 16 2 13 2 16 4 299 225 7.76 Fri. 1 2 17 3 17 5 34 342 10.06 Sat. 19 2 21 5 42 1/2 7 63 1/2 ?60 11,96 Mon. 20 2 19 2 10 . 4 '29 182 6.28 Tue. 21 2 i7 2 10 4 27 206 7.63 Wed a 22 2 13 2 13• f+ 26 205 7.88 Thu. 2 2 133 2 16 4 29 221 7.62 Fri, 24 2 18 2 13 4 31 334 10.77 Sat. 25 2 21 5 40 1/2 7 61 1/2 802 13904 Mon. 2 2 19 2 10 4 29 184 6.34 Tue. 29 2 17 2 10 4 27 218 8,07 Wed* 29 2 2 1 4 22 215 9.7 Thu. 30 2 1 3 2 1 4 31+ 210 6.19 Fri, 31 ? :.. .1 ja ....� .39 . 212 2 TOTAL 5+ 443 66 462 120 905 81784 9.71 • LIQUOR DISLENSARY PTMD PY ROLL,§M= VILLAGE OF EDINA Month of July, 1950 -------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------- 4444. ZranjaQ na oveea Average Rem ExtrS Per Day Date No, Hours NO. Hours Noe Hours No, Man hours a Sat. 1 Mon, 3 Wed, 5 Thu. 6 Fri. Sat, Mon, 10 Two 11 Wed, 12 Thu, 13 Fri, 1 Sat.. 15 More. 17 Tue. 1 Wed. 19 Thy►. 20 Fri* 21 Sat. 22 Mon. 24 Tuea 25 Wed. 26 Thu. 27 Fri. 28 Sat: '29 Mon. 31 TOTAL 2 22 6 2 21 4 2 258 18 2 2 21 2 2 22 6 2 2 2 2 2 2 3 3 3 3 3 wi 59 16 15 18 23 16 16 16 20 30 24 18 21 26 30 A 492 2 2 2 5 2 2 2 4 2 2 5 04 67 q 436 6 7 4 i6 258 23 4 51 8 16 1/2 27 28 429 13 4 13 4 29 7 2V4 9 4 S 1/2 4 8 5 33 1/2 9 6 4 8 8 5 40 6 474 M2 126 == r �19s 77 885 67 613 �2 2272 275 73 858 28 1/2 2956 25 281 28 298 J1 1+38 7 82 25 258 25� 267 241/2 27 28 429 63 1/2 889 28 26 29 2V4 90 9% 9663A 10,802 11.43 9•U 1 9. 11..75 8.498 11,27 11424 10.65 14.13 12.42 10.32 1196 10.68 11.31 15.29 1 .00 9.30 M9.7 114 9.45 11:62 13.06 � A 11.18 sz �acsz Imo( UCH ' DISMNS RY FUND Y R,LL VILLAGE OF EDINA. Louth of October, 1950 -------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------- ��n io .���p...■r■r.�.re.�■n. i'— iLwi ®i:`���r.. ■ ■ r urr. rr rer�M. -..� Average .�.■��.�a Extra Toial _ Per Da Hate loo, + ...�� .�� Hours Igo. Mart -Hours Day Hours No. Hours No. Mon, 2 3 24 1 6 4 4 30 2j7 8.g7 Tue. 3 20 1 6 26 2 1 10. 1 wed.. 4 3 24 1 6 4 30 294 9.80 Thu, 5 3 25 2 8 333 4227 9.91 Jeri. 6 2 16 2 8 24 1. Sat. 7 2 19 4 37 1/2 -6 56 1/2 876 15.50 Mon, 9 3 24 1 6 4 30 2J3 7.77 Tue. 10 3 20 1 6 4 26 2 1 10.81 Wed. 11 3 24 1 6 4 30 279 9930 Thu, 12 3 21 2 8 5 29 293 10.10 Fri.. 1 3 25 2 8 5 J3 453 13.73 Sat. 1� 3 31 4 38 7 9 949 13.75 Mon. 16 3 24 1 6 4 26 Tue. 17 3- 20 1 6 4 262? 10.27 Wed* 19 3 19 1 6 4 25 308 12. 32 Thu, 19 3 21 2 8 5 29 310 10,69 Fri, 20 3 25 2 8 5 33 515 15.61 Sate. 21 2 20 4 37 6 57 838 14,70 Mon, 233 3 24 1 6 4 30 237 7,90 Tue, 24 3 18 1 6 4 24 264 11000 Wed, 25 3 23 1 6 if 29 276 9.52 Thu. 26 3 21 2 8 5 29, 271 g.34 Fri. 27 3 25 2 8 5 33 481 i4, 8 Bata 28 3 32 4 38 7 70 944 1309 Mon. 30 3 24 1 6 4 30 274 9.13 Tue, 31 6 2 _._.r A44 x,3. 1 TOTAL, 75. 589 " 46, 298.iA 121 887 V2 10, 539 11.87 i- .20. ---------------------------------------- Da q Date Fr t. 2 3 25 Mon. + .1 26 Tue: Wedo 6 3 24 Thu, 3 20 Fri6 3 23 Sate 9 3 32 Mon. 11 3 24 Tue. 12 3 20 Wed. 1� 3 21 Thu. 3 22 Fri, 15 3 25 Sat• 16 3 33 Tue. 19 3 26 Wed* 20 3 25 Thu,, 21 3 26 Fri. 23 3 38 Tue, 26 3 27 Wed. 2� 3 26 Thu. 2 .3 27 Fre 29 3 27 Sat. 30 TOTAL 73 640 LIgUTOR DISPENS Y FUND PAY ROLL A.URZX VILLAGE OF EDINA Month of December, 1950 ---------------------------------------------------------- ---------------------------------------------------------- rll Alll Tgansag&jcaa Average Per PTO. Man -hours 3 11 6 35 413 11980 5 48 8 73 975 13.36 2 9 5 34 199 5.69 1 1 6 4 3o 293 9.77 80 03 2 18 6 .33i 380 12.2 5 48 $ $O 915 11144 2 9 33 216 6.55 2 9 5 3660 274 999 3 11 6 33 275 8.33 a 14 7 jq 463 1.1.87 6 54 9 7 765 8.79 11 6 336 266 7:39 15 7 41 319 748 3 26 8 32 450 8.6' 8 55 11 896 712 8.28 9 99 12 137 lt577 11.51 4 15 7 42 274 6.52 3 12 6 38 279 7' 5 23 8- 50 ?70 5. 3 7 40 10 67 2 8.10 .. _,. _..x.43 ..x.34 10 00 99 657 172 1,297 129178 9.39 7 ft21®