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1955 Financial Statements
-- 00000 -- AUDITED FINANCIAL STATEMENTS -AND OTHER FINANCIAL INFORMATION VILLAGE OF EDINA9 MINNESOTA December 319 1955 -- 00000 -- - -00000 -- INDEX ACCOUNTANTS' REPORT .. ..............................: PAGE 3 COMMENTS ..... o ....... ............................... 4 FUND BALANCE SHEETS.. ..o ............................ 15 GENERAL FUND: BALANCE SHEET o..... ......o .............o.......... 17 STATEMENT OF SURPLUS — ....o.........o....o.......' 18 RECEIPTS........... o .............................. 20 DISBURSEMENTS .......... o ......... o ................ 22 FIXED ASSETS ....... ...:........................... 27 POOR FUND: BALANCE SHEET ................ .................... 28 STATEMENT OF SURPLUS — UNAPPROPRIATED ............. 29 ANALYSIS OF CHANGES IN CASH BALANCE ............... 30 PARR FUND: BALANCE SHEET ..... o ...................... o........ 31 STATEMENT OF SURPLUS — UNAPPROPRIATED ............. 32 ANALYSIS OF CHANGES IN CASH BALANCE.... .........:. 33 DISBURSEMENTS... .... .o......o..o...........o...... 34 FIXED ASSETS..... ........ o ..... 0000*0000.0000*0000 36 IMPROVEMENT FUNDS: ✓COMBINED BALANCE SHEET., ..... .... .............. 37r ./STATEMENT OF SURPLUS — UNAPPROPRIATED ............. 3t o/ANALYSIS OF CHANGES IN CASH BALANCES..o.,......... 39 /SPECIAL ASSESSMENTS RECEIVABLE: CURRENT AND DELINQUENTo ...................o..... 41 DEFERRED...... o.. ....o.........o....o....o..o... 42 /CONSTRUCTION IN PROGRESS: CURRENT .... o ............. oo .... o...o....o......o. 44 DEFERRED.......... o . o o .o . o o o.. . . . o . . . o . . . . . . . . o o . . 46 /MAMARY OF RESERVE FOR ASSESSMENT ADJUSTMENTS OUTSTANDING ASSESSMENTS AND BONDS............ 49 NTRACTS PAYABLE.. ..:..o...o.00.......oaoo...00.. 54 _ ONDS PAYABLE ...... ............................... 55 . o o o o o a o o .woo o-ro . o 0 o INDEX (Contid). WATERWORKS FUND ALANCE SHEET...:.... PAGE 57 ✓I1VOTES TO BALANCE SHEET ................e0000....... 58 ✓✓STATEMENT OF-SURPLUS ...... oo ...... . ....... .o...... _ 59 ✓ TATEMENTS OF INCOME AND EXPENSE ......... o........ 60 ANALYSIS OF CHANGES IN CASH BALANCE............... 62 FIXED'ASSETS ....... . .......o..o............,..0000. '63 GARBAGE FUND: BALANCESHEET— ....... ...a ........................ 64 �STATEMENT'OF SURPLUS ..o...00000...o.00.e........o.. 65 TATEMENTS OF INCOME AND EXPENSE .................. 67 ,� ANALYSIS OF CHANGES IN CASH BALANCE ............... SF;WER RENTAL FUND: VIBALANCE SHEET ...... ............................... 68 - J TATEMENT OF SURPLUS .............................. 69 V$TATEMENTS OF INCOME AND ;EXPENSE .................. 70 ANALYSIS OF CHANGES IN CASH BALANCE............... 71 LIQUOR DISPENSARY FUND: BALANCE SHEET ..... . ............................e.. 72 STATEMENT OF SURPLIIS .............................. 7� t, STATEMENTS OF INCOME AND EXPENSE .................. 7 FIXED ASSETSa...... ............................... 7'S, GENERAL SCHEDULES: CASH — ALL FUNDS ... ..............................0 76 SECURITY FOR DEPOSITS ................... ....e..... 77 INVESTMENTS ........ ............................... 78 TAXABLE VALUATIONS9.TAX LEVIES9.AND RATES......... 79 ORGANIZATION..... o.. ............e .................. 80 OFFICIAL BONDS ..... ............................... 81 MUNICI��P7/A1�L7 COURT FINES...' 0 0 0 0 ..................... 88'2] INSURANCE o. o...... .. o. o. 0 0 o 0 o e o. 6 o e o e 6 o o. o o e o o 0 o o o 83 Z: ERNST & ERNST FIRST NATAL -SOO LINE BLDG. MINNEAPOLIS 2, MINN. 'ACCOUNTANT S-AU D ITO RS OFFICES IN PRINCIPAL CITIES MANAGEMENT SERVICES ASSOCIATES IN FOREIGN COUNTRIES 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, 1955, and the related statements of cash receipts and disbursements or income and expense and surplus for the year then ended. Our examination was made in accordance with generally accepted auditing standards, and accordingly included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances. -In our opinion, the accompanying balance sheets and state- ments of cash receipts and disbursements, income and expense, and surplus present fairly the financial position of the Village of Edina at December 31, 1955, and its various special funds and the results of their operations for the year then ended, in conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding year. Certified Pub cco s Minneapolis Minnesota May 24, 195 . Our certificate or report upon are 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. As a preventive against fraud, attention is directed to the fact that all pages in than report should bear our mater mark. e3o it COMMENTS The following comments relate to the accompanying financial statements and to certain phases of the scope of our examination: SCOPE OF EXAMINATION We reconciled demand deposits to the balances reported directly to us by the depositorieso We examined canceled checks and compared them with recorded disbursements and reconciled cash receipts with deposits as shown by bank statements for periods selected by us. We also inspected vouchers and claims in support of disbursements for selected periods and traced them to the authorization in the minutes of the Council. The General Fund imprest cash, cash working funds, and cash for deposit were counted by us as of December 31, 1955. The subsequent deposit of cash on hand as of December 31, 1955, was confirmed with the depository. We confirmed the.government securities--owned by direct corres- pondence with the bank holding the securities for safekeeping. We supervised the mailing of water sewer rental, and garbage customers: statements as of December 31, 195, and included with a selected portion of such statements a request that we be notified of any differences. All differences reported have been satisfactorily explained° We reviewed current special assessments collectible in 19569 delinquent special assessments, and delinquent taxes and reconciled to amounts shown by the records of the County Auditor. We reviewed the transactions pertaining to deferred assessments receivable. We reviewed interfund. transfers and charges and determined that amounts due from other funds balanced with amounts payable as shown by other funds. We were present at the time physical inventories were taken at the municipal liquor store to observe procedures followed and to make test counts. We reviewed the clerical computations, and we tested prices used by reference to pufbl ase invoices and other data. We reviewed the perpetual records of liquor and wine and the adjustments of book quantities to inventory counts. We counted water meters on hand at December 31, 1955, and traced to- perpetual records. We supported the major additions to fixed assets by examination of invoices or other data and reviewed the computation of the provision for depreciation. _LF_ SCOPE OF EXAMINATION (Cont4d) We examined estimates of work completed prepared by the Village engineering department in support of claims paid to contractors, and we tested other costs on assessment projects. We reviewed the transfer of construction costs from the Construction Fund to the Improvement Funds on assessment projects completed during the year. All ascertained liabilities of the Village at December 31,1955, have been provided for in the balance sheet. Accounts payable were tested by direct correspondence or by data in the Village Files. Contracts pay- able on assessment projects have been adjusted for over and under runs by inspecting final payment claims_prepared by the Village engineering department. We inspected canceled bonds and interest coupons which had been redeemed during the year,-and-we reviewed the calculation of accrued interest and the appropriation of cash and securities for payment of bonds and interest in accordance with the bond agreements. New bond issues were supported by reference to authorization in the minutes of the Council. We confirmed the amount due to the Minneapolis -Saint Paul Sanitary Sewer District with the Minneapolis City Controller. We confirmed with'the County Auditor the tax settlements received during the year. -We accounted for recorded collections for licenses, permits, and fines by.examnation of copies of receipts and permits on file and by inspection of the docket of the Municipal Court-. We compared copies of official general receipts with recorded disburse- ments for periods selected by use We read the minutes of the meetings held by the Council during the year, and we traced pertinent data concerning construction projects, assessments, and capital outlay to the minutes. .We reviewed income and receipts and expenses and disbursements as to adequacy of classification and conformity with classifications for the preceding year. We made a general review of the system of internal control and such other tests and analyses as we considered necessary. -5 11 ,t .r/ r l COMMENTS ON FINANCIAL STATEMENTS GENERAL FUND There is included herein a statement.of recorded cash receipts and disbursements for the year 1955 in comparison with a similar state- ment for the year 1954. As the aforementioned statement includes both operating,,'and-non- operating items, we have reconstructed the statement for the year 1955. (that for the year 1954 is similarily reconstructed in our report for that year) to show the operations on an accrual basis in comparison with the related budget. REVENUES General taxes. Forfeited tax sale apportionment Interest and penalties Mortgage registry tax Licenses and 'permits: Plumbers, licenses Building permits Plumbing, sewer, and disposal permits Dog licenses Other licenses and permits Liquor tax apportionment Cigarette tax apportionment Clerical for other funds, engineering, and adminis�- trative fees Street and sidewalk repairs Rental of land, buildings, and equipment Election filing fees Hydrant tax Fines (excluding county and state, cases) Non - revenue income: Contribution from Liquor. Fund Sundry TOTAL Estimated $3001048.00 50.00 1,000.00 2,500.00 $ 1,100.00 11,000.00 .4,500.00 1,000.00 3,285-00 20,88 .00 9,000.00 8,500.00 83,840.00 5,000.00 300.00 10.00 6,850000 25,000.00 31,291.00 100.00 $494,374.00 Actual Actual Over- Under* $29.89308-72K $ 11739.28* 658.73 &, 1,433057 8,603.25-. $ 1,411.00 17,288.25 _6,757.50 1,679.25: 6.877.68 349013.68k 109133.76* 9,159.36:., 1389980084 2,078010- 49299.69 6,801.27x1 25,298.75 311291.0&\ 3,384.72 $574,445..44 608.73 433. V 6,103.25 $ 311.00 6,288.25 29257.50 679.25 3.592.68 13,128.68 1,133.76 659.36 55,140.84 2,921.90* 31999.69 10.00* 48073* 298.75 3,284.72 -$807071.044 N GENERAL FUND, (Cont'd) EXPENSES 'General Government Public safety: Police Fire Inspection Public works Sanitation and waste removal Unallocated expensess Workmen's compensation insurance Audit _Contingencies Hydrant rental Settlement of suits Other Actual Estimated Actual Over- Under* $1119439000 01039499-10t-,$ 79939.90* $ 591400000 $ 62,025.12t-- $ 29625.12 27,817000 41,958011 .14,141011 9.700-00 9,1+90,.15..,, 209.85* 9 ,917000 9113, 7303 $169556-38 185,500.00 4,868000 $ 29500000 4,500.00 51000.00 6,850000 3,006.00 219 950 o00 1809393 72r 57106028* 3,051015 1,816085* $ 3,340.03 3,945000 6,850000 450.0 �+ 5.31 15,130-34 $ 840.03' 555.00* 5,000000* -0- 21550.00* 545.11 ,719066* Tree trimming 4,850000 47277002 572.98* Health officer 500000 490080 6 9020* Dog catcher 2,500000 17855.28t-- 644072* Civilian defense 250.00 25.10r-- 224090* Capital outlays Land $ -59500-00 $ 87910081& $ 3,410081 Buildings 277000.00 825.58f 261174042* Highway department 79000000 207554.75v--- 137551+.75 Furniture and fixtures 29'400 -.00 291 5028,1 264.72* P'olice.department 3,000000 37448.21f-- 448.21 Engineering department 4;000 00 27754o06v -- 19245°94* Construction in progress 27,806002(- 279806.02 Special assessments on Village property rj,500.00 3,299.167---- 27200084* Traffic.signals 27966000 K 27966.00 Library 57293.33k 51293033 Miscellaneous equipment 39900.00 27751.38N 17148062* Fire department 7,400.00 060021 4 9.79* 659700-00 9-829804.22 1 -18-.110 0 TOTAL 1494,374000 $5061000.68 $111626°68 - q)-77, —7— W '4 GENERAL FUND (Copt ' d) In cases where a portion of--the cost of special improvements is payable by the General Fund, annual levies are made for bond retire- ment and interest charges which go directly to the Improvement Fund and are not included in the operations of the General Fund. Excess of actual revenues over estimated $ 801071041+ Less excess of actual expenses over estimated 11,626.68 INCREASE $ 68,444076 GENERAL FUND SURPLUS Balance at December 31, 1954 $114,485046 Excess of revenue over expenditures for the year 68,41+4.76 1 2,930,22 Less: Transfer to Park Fund to eliminate deficit $ 16,001°57 Transfer to reserve for encumbrances 112,295,96 128,297053 Balance at December 31, 1955 $_54,632_69 From the foregoing it will be noted that total revenues exceeded the budget by $80,071044, of which the clerical for other funds, .engineer- ing, and administrative fees comprised the major portion. The increase in such revenue was due to the large number of special assessment.projects completed in 1955 and the large total costs of these projects. The transfer from surplus to the reserve for encumbrances in the amount of $112,295.96 is for commitments by the Village for acquisition of land in connection with the construction of a crosstown highway. POOR FUND AND PARK FUND Reference is made to detailed schedules elsewhere in this report as to the operations of these two funds. The Poor Fund appears on pages 28 to 30, and the Park Fund on pages 31 to 36. H .S IMPROVEMENT FUNDS To facilitate the accounting for construction costs the Council established the Construction Fund as of December 31, 1951, to which is transferred the proceeds of bonds sold for construction or improvement purposes. The cash balance of the Construction Fund and the advances from other funds are analyzed and summarized as follows: - Improvement Funds: 1950 Second Series 1952 First Series 1953 First Series Sanitary sewer No, 53 1954 First Series 1954 Second Series Improvement Bond Redemption Other funds: Advance from General Fund Due from other funds: General $299072032 Permanent.Improve- ment Revolving 6,078032 Net Advances $ 1,336036 8,05599 101181064,, 2,070014 13,201,31 191,682002 .269,-8140 84 96,342.30 75,000°00 35,150064* ..Due to other funds :. General $1331052°06 1954 First Series 971.20 Improvement'Bond - Redemption 869,15 134 892041 NET TOTAL DIE TO OTHER FUNDS $671,084007 Construction costs (to be assessed): Permanent Improvement - Revolving Fund Unallocated Construction in Progress Current $ 177092 1,298098 6,815,61 1379603017 212 226, $3587122-.61 5,99012 218,43 014 $582,551.-87 Cash provided by: Water main and sewer connection deposits Balance at December 31, 1955 Represented by-. Cash Investments * Indicates: red - figu.re e $ 19639.23 _100,000000 Cash Available for Construction $ 19336036 71878.07 8,882066 2,070,14 6,38-5-70 51+9078.85 57.587091 138,219°69 75,000,00" 35,150064* 134,892041 5,99.12* 218,43 ,14* 13,107,03 $101,639.23 $1019639.23. -9- . IMPROVEMENT FUNDS (Cont'd) Analysis of the unencumbered cash provided by proceeds fram bond sales of the various Improvement Funds is -presented' in the following schedule: 1 Balance of advances at January 1, 1955 Additions: Proceeds from bond sales - transferred Deductions: Construction costs transferred during 1955 Construction.cash transferred Balance of advances at December 31, 1955 ess construction in progress - current at December 31, 1955 ash available for construction Less construction in progress - deferred at December 31, 1955 Overage or deficit* in funds .. transferred to Construction Fund Proceeds from bond sales retained by the Improvement Funds Unencumbered balance at December 31, 1955 1950. .19. - Improvement_ Funds Improve First Second First Total Series Series Series 6 361,1671.97 $2,530.41 $12336.36 $1,658.90 1,664,466.29 $210269138.26 $2,530.41 $1,336.36 $1,658.90- $1,45079.'1652-82. 36.14 $ 891.05 2.530. 41 26Z.8 $1,229,795-26 6 0 _61,658-90 $ 496,342.30.$ -0 $1,336.36 $ . -o- 358,122.61 $ 138,219069 $ -o- $1,336.36 $ -o 70,794-60 $ 679425.09 $ -o- $1,336.36 $ -o- 170,342.8 A) 2:530-41 767.85 $ 2379767..96 $2,530.41 $1,33636 $ 767.85 Note A - Proceeds from sale of bonds retained by the Improvement Funds are invested-in government securities and are included with investments on the balance sheet. 1952 o 1953 5 Improvement Improvement 1 9 5 4 Improvement went Funds Fund Fund Sanitary Southdale Improvement Funds Bond Second First First Sewer Improvement First Second Redemption Series Series Series No. 53 Fund Series Series Fund $10,076.71 $38,199.81 $13,309.28 $29224.58 $111717.37 $44,145.51 $236,473.04 6 -0- 1 2,266.29 1,491 00'.00 $10,076.71 $38,199.81 $13,309.28 $2722.58 119717.37 S;7,715.51 $ 9, 439-33 61,4917500-00 $ 1,439.04.$ 59143082 6 627.64 $ 154.44 $ 1,493. -48 $ 944020 $217,757.31 $1,221,685.16 8.637. 7 25.000.00 2,500.00 10.2230 9 30.000.00 610,076.71 0 1 2 12 1 . +4+ $11,717.17 0 .20 217,7 7.,-1 1,221, 8 .1 6 -0 $ 82055.99 $10,181.64 177.92 1,298.98 6 -o- S 71878.07 $ 8,882.66 178.41 3,332.29 S 178..41 *$ 71878.07 $ 52550.37 8,63.67 25,000.00 20,712.09 $21070.14 6 -0- $139201.31 $191,682.02 $ ,269,814.,84 6,815961 137,603.17 .212,226.93 $29070.14 $ -0- $ 69385.70 $ 54,078.85 6 57,587.91 978.84 14,572.77 51,732.29 $21070.14 $ -0- $ 59406.86 $ 39,506.08 S 51855.62 10,481.28 30,000.00 19,540.83 52,672.74 $ 81459.26 $329878.07 $269262.46 $22070.14 $109481.28 $35,406.86 $ 59,046.91 $ 58,528.36 -10- IMPROVEMENT FUNDS (Conttd) Unallocated construction costs in the amount of $45,034.21 repre- sent construction costs in excess of the amount assessed which are to be recovered by connection charges to future lateral sewers and water mains which will be serviced by the Southdale sewer trunk and water district. Unapplied connection charges represent charges made to property owners in new lateral districts for connecting to an existing trunk sewer or water -main assessed and aid for by the property owners in such district. Of -the total $136,168.46, 84,392.53 applies to Joint Sewer District No. 1 which was constructed at the time the Minneapolis -Saint Paul Sanitary Sewer District was organized. A portion of such charges will be'used to pay any balance of the cost of Joint Sewer District No. 1 over the period ending with the year 1968. The disposition of other connection charges has not been determined. The reserve for assessment adjustments represents the excess of assessments over actual costs incurred, less charges where costs exceeded the'assessment. The balance in the Improvement Bond Redemption Fund is quite large because allowance was made at the time of assessment on several projects for known costs that had not yet been Any excess in this account is available for cancellation of assessments or refunds to K roperty owners if the entire assessment has been paid. Approximately 0,000 of the reserves in the Special Assessments Funds was used for this purpose during 1955. The Village has adopted the policy of including as a part of project costs interest from the date of final assessment hearing to December 31st. This was done to facilitate tabulation of the - assessments. WATERWORKS FUND schedule The operations of the fund are shown in detail in a separate and are summarized as follows: Per Cent to Gross Income 19 19 100.0% 100.0% Gross income Expenses: Pumping Distribution Administrative and general OPERATING INCOME Other income Other deductions NET INC ONE 1955 1954 Increase $135,397.51 $93,023.57 $42,373.94 $ 23,741.27 40,113.18 114,151.60 75.006-.05 39 . 1:182.58 lo.o58.42 $ 51,515.62 $16,163.00 30,242.41 8.488-43 0 2 3 162.60 5381292-33 5,369024 $32,923,09 $ 7,578.27 9,870.77 2,663.17 §201112.21 22,2 1.7 1.019 8239281-71 4,689.18 $18,592.53 29.6 32 0 5% 8. .1 o .Oo 1.0 0 .2 1 7.4 5.8 38.1% 35.4% .1 Gross income for the years 1955 and 1954 included hydrant.fees from the General Fund for fire protection in the amounts of $6,850.00 and $6 050 00, respectively, such charges having been made on the basis of 1/� mill on the tax levy. Segregated fund for debt retirement represents amount set aside in accordance with terms of the bond issue. -11- GARBAGE FUND The following schedule compares the operations of the fund for the years 1955 and 1954: Per Cent Increase to Income 155 1954 Decrease* 1225 19 Operating income $249466.85 $27,130083 $29663.98* 100.0% 100.0% Expenses: Collection service $229836.75 $249627.70 $1,790.95* 93.3% 90.8% Administrative and general 1,850.68 1 16 .4 681.25 6 4. 2 . 2 .13 1 10 . O* OPERATING LOSS * - INCOME 220. * 19333.70 $1, 554.28* Other income 44.63 48043 3.80* .2 .2 NET LOSS * - INCOME $ 175.95* $ 19382.13 .$11558.08* .7%* 5.1% The factors contributing to the decrease in operating income are summarized as follows: Decrease resulting from a lesser number of customers served $29,725.07 Increase in forfeited discounts 61.09 TOTAL -DECREASE IN GROSS INCOME $21663.98 The factors contributing to the decrease in operating expenses are summarized as follows: Decrease resulting from a lesser number - -_of customers served $1,816.80 Decrease in refunds 25.85 TOTAL DECREASE IN OPERATING EXPENSES $17790-95 The increase in administrative expenses represents principally increased clerical and supervisory charges made by the General Fund. SEWER RENTAL FUND The operations for the year, summarized as follows: Billing Expenses: Operating Administrative and general OPERATING LCSS*- INCOME 1 Other income �. NET LOSS * - INCOME 1955 $20,358.42 $20,713-13 shown in a separate schedule, are Per Cent to Increase Billings 1 54 Decrease* 1955 1 $187572.90 $17785.52 loo.: %' 100.0% $155485-50 $59227.63 101.8% 83.4% 1,832.1+3 1,158-13 2291 701 * 11,929.27 22.08 316.13 $ 19865.06.* $ 21245.40 674.30 .0 6.2 R,201-23 110. o . a ,11 1* 10. o* 10. o 5.95 1.6 1 °7 .$1+9'110.46* 9.21,* 12.1% -12- SEWER RENTAL FUND (Coot td) The factors contributing to- the increase in expenses can be summarized as follows: Sewer maintenance and treatment: Paid to City.of Minneapolis-in 1955 Paid to .City of Minneapolis in 1954 $16,936.15 13,114-82 39821.33 __Increase in maintenance costs paid $4,941 39 to other fund and outsiders 1,120.06 Net increase in'other operating expenses 286.24 65,227-63 Increase in administrative and general expenses (primarily charges for clerical and supervisory work by General Fund) 674030 TOTAL INCREASE IN EXPENSES $59901°93 LIQUOR DISPENSARY FUND The detailed comparative statements of income and expense for the calendar years 1955 and 1954 are shown in a separate schedule and are summarized as follows: Increase in gross profit attributed to: Increase in sales volume Increase in gross profit'percentage Add decrease in net operating expenses: Salaries and wages Provision for depreciation Repairs and maintenance Insurance Light and power Supplies Burglar alarm service Bad checks written off Taxes and licenses Others Add increase in other incomes Cash over Income on investments * Indicates red-,figuree 8,5345.66 e 11,079° 7 $1,81+7.81* 188026* 3,100°05 220.78* 66085* 111°89* 17000 261°27 24098 123032 1,282- F-O 12,3 0 $ 224030 314002 538032 INCREASE IN NET INCOME $129906.82 -13— Increase 1955 1954 Decrease* Sales $5519699.23 $515,254°26 $361444097 Cost of goods sold .1+19.941-19 31, 4 s575.69 25.365.50- ,CUSS PROFIT 131.,7 00 120, 7 0 7 11,079 7 Operating expenses 2 2 al 84020 1 28 00 * OPERATING INCOME 6 99,. 2087 87,09 .037 $129368.5-0 Other income 813°10 274°78 538032 NET INCOME $1009275097 6 87,369015 $12,906°82 The factors contributing to the increase in net income can.be sua marixed as follows: Increase in gross profit attributed to: Increase in sales volume Increase in gross profit'percentage Add decrease in net operating expenses: Salaries and wages Provision for depreciation Repairs and maintenance Insurance Light and power Supplies Burglar alarm service Bad checks written off Taxes and licenses Others Add increase in other incomes Cash over Income on investments * Indicates red-,figuree 8,5345.66 e 11,079° 7 $1,81+7.81* 188026* 3,100°05 220.78* 66085* 111°89* 17000 261°27 24098 123032 1,282- F-O 12,3 0 $ 224030 314002 538032 INCREASE IN NET INCOME $129906.82 -13— LIQUOR DISPENSARY FUND (Cont a d) Cash balances increased $22,004001 for the year and may be accounted for as follows: Cash funds provided: Net income Provision for depreciation Decrease in sundry prepaid.expenses ' Increase in accounts payable Increase in salaries and wages payable Cash funds disposed: Transferred to General Fund Investments purchased Increase in inventory Decrease in -'die to other funds Increase in accrued interest receivable $31,291000 9,750000 4,045, 52 4;172°00 229018 NET INCREASE IN CASH $100)275-97 2,530009 167007 8,465°23 53-35 $111,491,71 89,487-70 $ 221004001 Gross profit percentagesfor the past three years are as follows: Liquor Wine Beer Mix and miscellaneous Total GENERAL 1955 1954 1953 23,65% 22096% 22091% 31.75. 32:42 32069 20.21 19045 18004 22.29 30 0 9 02 28.44 23-88 23 ` 23-18 No official bond has been provided for the Village Clerk - Treasurer nor for other employees handling monies. We recommend that bonds be secured for all Village employees handling rgonies or a blanket position bond to cover all such employees. rj- -14= '1 0 FUND BALANCE SHEETS VILLAGE OF EDINA' December 319 1955 ASSETS Cash: ° Current funds Appropriated funds Investments: U. S. Government securities at face value or cost Accrued interest receivable Amounts segregated and shown below Receivable: Taxes and special assessments: Current Delinquent Deferred Customers Due from other governmental agency Due from other funds Other receivables Less allowance for delinquent taxes Inventories Amount to.be provided for Village share of cost of Minneapolis -Saint Paul Sanitary District sewage disposal plant Segregated securities for reserve for debt retirement and construction commitments Construction in progress Fixed assets Prepaid expenses and deferred charges General Poor. 33,006.95 325.00 4 33,331• $ 10,903.29 2097597-06 694.98 6221,195.35 10,903.29 210,292.0 720,382.56. $9642006.55 $ 4,037.55 ,037 69500.00 $ 352.43 25.00 377.43 352.43 25.00 $lo9562.55 . y F u n d s Sewer Liquor Park Improvement Waterworks Garbage Rental Dispensary $ 99573.72* $ $21444.16 $ 600.79* $ 599678.55 9, 73.72* 4 41 5 49, 573.41 129381°28* S 13, 9. 7 2, .1 00.79* 6 592678.-57 7289000.002 216,872..02 3,515.04 27,100.52 49,750.00 634.44 20.48 144.82 229.18 201,244.60 *, $ 671,446.84 $1,115.85 276.72 979.25 44,622.06 3,511,482.12 6 241463.42 167001.57 218,638.19 61850.00 6120 14-76 1.165-71 6177612.72-` U77446,203-97 6 329479-13 1,11 . $19115-95, 276.72 979.25 244.719 . $169632.77 x+,201, . 0 32, 79 13 1,11 . 27 .72 57396.20 802751.10 22,425.01 201,244060 814,370.19 38,167.34 57,879.89 1,523,331.55 225.68 11926.65 509830.10 - - 715.68 708.65 $64,938.94. ---- - - - - -- ---------- $5,8157853.01 ------- - - - - =- ------- - - - - -- $198317145.93 ------- - - - - -- - ----- - - - - -- $79321.21 --- - - - - -- --- - - - - -- $28,847092 ---- - - - - -- ---- - - - - -- $241,947,.58 ----- - - - - -- ----- - - - - -- FUND BALANCE SHEETS (Cont'd) General Poor LIABILITIES RESERVES, AND SURPLUS Funds Due to other $ 517923.89 Accounts payable 182271.00 276.02 Salaries and wages Canceled assessments refundable Due to Hennepin County Interest payable Water main and sewer connection deposits .Construction contracts. Minneapolis -Saint Paul.Sanitary,Sewer District Bonds payable Unapplied connection charges Unexpended contributions Sundry deposits . 6,175.45 Reserve for assessment adjustments Surplus: Invested in fixed assets 658,874.51 Contributed - invested in fixed assets 617508.05 Contributed by special assessments Revaluation Appropriated:. For imprest cash fund 325.00 For payment of bonds and interest For payments to City of Minneapolis for .Village share of sewage disposal plant For encumbrances 1121295.96 Unappropriated 54,632.69 10,286.53 $964*1006.55 $109562.55 * Indicates red figure. i F u n d s Park Improvement Waterworks Garbage Sewer Rental Liquor Dispensary !676.01 397,551.65 1,513.28. 98.00 $ 4 .739.34. 8992125 $1,,863.50 $109142099 119076.85 1;136.33 . 9,186.50 . 10,120.4o- 5.45 1.85 369536.00 37908.33 13,107.03 186,784.11 22,425.01 497399000.00 3799000.00 136716.8.46 1,246.71 171,913.28 389226.98 225.68 _.17926.65 509830.10 19,652.91 169,380066 .. 1,204,720.32 34,151.32 48 457.50 6,117.27 86,203.96 133.920.86 .5.226.58 16,776.43 1743649.29 $642938.•94 $52815,853.01 $1,831,145.93 $7,321.21 $282847C.92 $2419947.58 -16- GENERAL FUND BALANCE SHEET VILLAGE OF EDINA December 31, 1955 ASSETS Cash- Demand deposits Vorking funds Receivables- Due from other funds- Construction Fund Special Assessment Funds Permanent Improvement Revolving Fund Waterworks Fund Liquor Dispensary Fund Sundry reimbursable expenditures Advance. to.Construction Fund Taxes receivable - delinquent Less allowance for delinquent taxes Fixed .assets LIABILITIES Due to other Funds - Construction Fund Waterworks Fund .Park Fund $1339052.06 634000 7Q5.00 738.00 98 a 00 .Accounts payable - Trade Edina Firemen's.Relief Association Municipal.Court fines due county and state Sundry deposits .Appropriated surplus: .Invested in fixed assets Contributed - invested in fixed assets For encumbrances ' For imprest cash Surplus - unappropriated $6587874.51 $ 332006.95 325.00 $ 339331.95 $134,597.06 694.98 $ 109903.29 103903.29 135,292.04 75,000.00 -0- 7209382.56 $9641006.55 299072.32 6 9 8 50.OQ.? 160001.57 $ 51,923.89 $ 1 7568.29 9412.21 290 50 e 6,175.45 249446.45 61508.05 $7209382.56 1129295.96 X32 5 . o0 833 9.003.52 243632.69 $9641006.'55 -17- �1 GENERAL FUND STATEMEMT.OF SURPLUS VILLAGE OF EDINA Year ended December 31, 1955 APPROPRIATED Invested in For Imprest For Total Fixed Assets Contributed Cash Encumbrances Balance at January 1, 1955 $643,058.20 $5829609.70 $ 60,298.50 150.00 Additions: Radar equipment purchased from - .contribution by Minneapolis Savings and Loan Association 19209.55 11209.55 Transfer from unappropriated surplus: .For additions to fixed assets 76,264.81 769264.81 For increase in imprest cash 175.00 175.00 For encumbrances 112,295.96 $112.295.96 Balance. at December 31, 1955 $833,003.52 $658,874.51 $ 61,508.05 $ 325.00 $1121295.96. UNAPPROPRIATED --- - - -~ -- Balance at January 1, 1955 $1141485.46 Receipts Disbursements Cash transaction during the year $6552624.41 $7139639-13 Eliminations: November, 1955, tax settlement due to other funds 201,327-30 201.327.30 2297.11 $5129311-83 Less non- revenue items: Collection and payments on amounts accrued at December 31, 1954: Construction Fund $ 699031. $ 129085 Waterworks Fund 15.10 5,500.00 Park Fund 47270.00 Permanent.Improvement Revolving Fund 250.41 1951 Second Series Improvement Fund 390.63 Liquor Dispensary Fund 4 2 0.00 49964.41 6 10,540.89 Advance to Construction Fund 259000.00 Collections and payment of performance deposits, dedicated funds, and amount due others: .Performance deposits $ 39635.00 $ 4,000.00 __Dedicated funds used for ' purchase of radar equipment 11209.55 Edina Firemen's Relief Association 49412.21 4,785.14 Liquor. store 98,00 8.047.21 10 0 2. 13,031-AP . $4417265.49 $4669678.25 - 441,265.49 Excess of :disbursements over receipts 2 �412. 6 .(Total carried forward) , 0 I -18- GENERAL FUND STATEMENT OF SURPLUS (Cont'd) UNAPPROPRIATED (Cont'd) (Total brought forward) Additions: Accrual for clerical, engineering and other costs charged to other funds: Construction Fund Special Assessment Funds Permanent Improvement Fund Waterworks Fund Income on investments due from Construction Fund Increase in-accounts receivable: Balance at December 31 1955 Balance .at January 1, 1955 Deductions:, Increase in accounts payable: Balance at December 31, 1955 Balance at January 1, 1955 Amount due Waterworks Fund for hydrant rental Village share of construction: Curb radius Widening of highways Transfers: To Park Fund to eliminate deficit at December 31, 1955 To reserve for encumbrances IFA Receipts Disbursements $1322174.57 634.00 75.00 738.00 $ 694.98 477.36 $ 13,568.29 8,631.45 $ 1,266.30 279806.02 16,001.57 112,295.96 $133,621.57 877.49 217.62 4,936.84 6,850.00 29, ©72.32 128,297.53 Balance at December 31,,1955 For Imprest Cash 89,072.70 134,716.68 52232769-37 1699156.69 S 541632.69 - A -19_ * GENERAL FUND RECEIPTS VILLAGE OF EDINA Rentals: Land and buildings Equipment Revenue from State of Minnesota: Insurance premiums tax Liquor tax apportionment Cigarette tax apportionment $ 280.OW $ 300.00 $ 20.'00* 13066 681 -0- 19066.68 19346 6 300.00 19046 . S .39049.24-, $ 39161.64 S. 112.4-0* 109133.76 10,133076 mom 9.159-36A 2 6.80 .44* 2293 2.3 HE9552.20 5 209.84* -20- Year ended December 1 Increase 1955 1954 Decrease* Tax settlements: Real and personal taxes: General $2989076009 $275,082.50 22,99359 Firemen's Relief Association 1,362.97 11223.09 139.88 Forfeited tax sale apportionment 658.73,- 7.13 651.60 Interest and penalties 19433.57 1,133.04 300.53 Mortgage registry 89603..25 ts, 59656.16 29947.09 Gross earning tax and -bank excise 232.63+ 11605.01 19372038* Hydrant use tax 62801 86. 814.28 - U31791 6d 1 29C 93.92 2 , 7.. 9 Licenses and permits: Plumbing: Licenses $ 1,4ll.0ot--_$ 19218.00 S 19300 Permits 49231.00 39475.75 755.25 Building 17,288.25r-- 25,518030 81230.05* Sewer 19839.00 ', 19047.50 Cesspool 687.50 733.00 .791.50 . 45.50* Bicycle 19369.00r -- 270.10 11098.90 Beer 525.001` 470000 55000 Bowling alleys 160.0OJK, 160.00 mom Cigarette 358.00 357.00 1.00 Food 216.00t-- 210.00 6.00 Liquor 200.00 200.00 mo® Pinball 200.00 N, 250.00 50.00* Taxi cab 80.00 80.00 00® Theatre 75.00J- 75000 -o- Sign 27512 43v\ 361.94 2,150°49 Dog 19679.25 19110.00 569°25 Gas pumps 305.00+-\ mo- 305.00 Miscellaneous 13 2 02 r\_ 51.00 88.2 . 33, �7 3 9587-59 2,311.91* Municipal Court: Fines and forfeits 259298-75N 259109.75 189.00 Rentals: Land and buildings Equipment Revenue from State of Minnesota: Insurance premiums tax Liquor tax apportionment Cigarette tax apportionment $ 280.OW $ 300.00 $ 20.'00* 13066 681 -0- 19066.68 19346 6 300.00 19046 . S .39049.24-, $ 39161.64 S. 112.4-0* 109133.76 10,133076 mom 9.159-36A 2 6.80 .44* 2293 2.3 HE9552.20 5 209.84* -20- r GENERAL FUND k RECEIPTS (Cont!d) Year ended December 1 Increase 1925 1954 Decrease* Departmental fees and service charges: 920025 -o- Election filing fees -o= 8000 Engineering and clerical services: 49297.16 $ 342. 00 $ Constructioli Fund -o- 419802089 Waterworks.Fund 39235014^ - 19939°85 Garbage rund• 19562.57K 863007 Sewer Rental.Fund 19562057 863°07 Liquor Dispensary Fund 1,440000 k- -o -' Street atepafrs after construction 290780101 2,204°28 Street opening fees -o- 724°00 Police service - Village of Morningside 1,250.00r,\ -0- 119128.37 6 489405.16 Collections on accounts receivable accrued at'December 31, 1954: Park Fund $ -o- 35000 Sewer Rental Fund -o- 7065 Liquor Fund 49270000 24042 Construction Fund 699031 19151022 Waterworks Fund :15°10 -o -. Other 356038 75000': I Interfund: Loan from Permanent Improvement Revolving Fund Transfer from Liquor Fund Sale of investments for Liquor Fund Reimbursement for Waterworks Fund Collection on November, 1955.tax settlement due to other funds Equipment rental charged Waterworks fund Park Fund Construction Fund to other funds: Other: Special assessment searches Contributions Performance deposits Impounding fees Proceeds sale of property Insurance settlements Reimbursed expenditures Sundry 7340-79 6 11293029; $ 8000* 41,802.'89*.- 19295.29 699050 699 50 1,440000 126.18* 724000* 12250.00 37,27 .7 * $ 35.00* 7°65* 4,245°58 4510 91 15 0.10 281° 8 41047-50 $ -o- $ 75,000°00 $ 759000°00* 319291°00 1199693.93 889402093* -0- .50,000.00 509000000* -o- - 65044 65044* 201 327.30 -o- -2019327.30 $2327618-.30 6244,759.37 5 129141-07* $ -o- $ 920025 -o- 500000 -o- 2,876.91 -o- 5 49297.16 $ 342. 00 $ 374.50 -o- 39398050 39635°00 � 51750000 310000 v�- -o- 260000r, -o- 19320087 -o- 960073 -o- 276-36 1000 4104.%6 10,03aoO 920025 500000* 2.876°91* 3 49297016: -* $ 32050* 3,398.50*..: 29115°00* 310-00 260°00 .11320-87 960073 2 0 1* 2,928.11* TOTAL f$655,624e41 $683,031051 $ 271407010* . -- - -- - -- - -- == -- -- - -- - - - - - -- -==== -21- General government.- -Mayor and trustees. Salaries. Mayor Trustees GENERAL FUND DISBURSEMENTS VILLAGE OF EDINA Publishing ordinances and notices Supplies Travel and entertainment Other Municipal Court.- Salaries. Municipal judge Special judge Clerk of Court Assistant Village attorney Fines transmitted to state and county .Supplies Board of prisoners Witness fees Rent Other Elect -ions; Salaries.- judges and.clerks Supplies . Other Treasurers Salary-, Premium on bond Assessorai Salaries: Assessor. Deputy assessors !;;Supplies and other :Mileage Attorney; Salary Fees and.expenses Other S: Year Ended December i Increase 1 19 Decrease* 19440000 $ 960.00 49800.00 29160.00 809007 296 ..75 66.89 348.94 299.33 ®o® 111. 67.06 79-527 3, 32. -7 118.40.44 $ 1,533.72 1,472.4® 17201044 11963.20 11974.49 11349.64 11227°00 584.00 379.00 245.80 222.05 1y321.50 19806.50 267.02 140..00 ®o- 360.00 40. +I/ . 241. ZI 9,0 + -3 9,0 .1 $ 480.00, 2 9-640.00 512-32 282.05* 29933 44.91 3969'+.53 $ 306.72 270096 11.29* 122.64 205000 23.75 485.00* 127.02 360.00* 201.60* 1.80* 0* $ 19422.85 $ 49175.48 $ 21.752..63* .290.19 177.70 112.49 17.50 167,57* _/ 18 1, 730 0 47� , 3 I U 21807.71* $ -.630..00 $ 600.00 $ 30.00 47-50 37. 0 7. 637-50 6 30.00 $ 51000.00 $ .19900.00 $ 3- 9100.00 3,325.76 4956 .50 19239.74* expenses 307.00 378.30 71030* 294. 00 2 4000 0® ,92 .7 79137-9-0 6197 $ . 19 840 a 44 $ 19533-73 $ 306.71 950.37 .59711.85 47761.48* 26.24 -o- 26.24 29 17.0 V 792. . T--71-428-53* -22- GENERAL FUND DISBURSEMENTS (Copt ° d ) General government: (cont'd) Executive: Salaries: Village manager and engineer Assistant Village manager Subscriptions Supplies Mileage School Other Clerk: - Salary Clerical salaries: Deputy Other Supplies Postage Maintenance .Publications Other and.rental of equipment Village.hall:. Janitor services Supplies Towel service Light and power Water Telephone Fuel Insurance V'o Maintenance.of building and grounds Rent Razing old village hall Other Library: Salaries Janitor services Insurance Heat light, Maintenance Supplies Other and water of buildings and :Planning commission: Consultant fees' Other .Year Ended December l Increase 197. 19 Decrease* 6 129.116.28N 9970.8.00 3,176092 49664.12 207.50f',, 47.65 40.08 r,- 163.9 107.161,-- 417.97 353 0 4� 2i s o 1 9' 5t4 157220-83 $. 5 9,195.81 $ 2,408.28 1,487 020* 159°85 123.86* �454 30 . �o* 4.26 1444.02 960.00 $ 4,23 5.81 -o- , 4197989 269267.75x- 241656.07 29157.87, 3,.064°18 236.05 272.74 496.6 5�\ 2o4.18 19320.88 ti 552.15 0.80 200.26 359765. 1' T-379889-47 $ 59630.42 $ 49145.31 841.71 _573.28 186.30 95.25 19792 19150.01 79.29 29146.54 19,901.46 1933597 612.21 433.05 223.99 -0- a75-50 -o® 9x57. -0- x070 247.70 129.299.7 4 119 `M1 8490,16 $ 484.59 338.70 19.50 •no -. 600.71 ,,3384.01 46.22. grounds 469.02 _o® 267.55 _o® .o0 01.78 2 313044 5 192 2. 0 Dues 'TOTAL GENERAL.GOVERNMENT $ 19325.267 19325 092 209.00 999332.2 $ 19:0oi.95 .21.50 19 023.45 209.00 969125.43 4997989* 17611.68 906.31* 36..69* 292.47 768.73 109.46* 7603 $ 19485.11. 268°43 91.05 642.36 63.19 245.o8 723.76 953.79 *: 209.06* 3375..50* 49 5.00* 247. O* 19 .237.93 $ 364.57 319.20 600.71* X337.79 69.02 267.55 19 070.. - $ 323.32 20,85* 302.417 moo 3920 _m �3® ,.Public safety: .Police protection: .Salaries Supplies Police radio service Drunkometer tests Repairs and maintenance' Other ,.Fire protection: Salaries Supplies Insurance Power for siren Telephone Fire school and convention Maintenance of equipment Uniforms Other Inspection services: Building inspector Plumbing inspector Supplies and other expense GENERAL FUND DISBURSEMENTS (Cunt °d) TOTAL PUBLIC SAFETY Highways: Engineering: Salaries Outside services Supplies Mileage Equipment rental and maintenance Other Street lights and traffic signals Street commissioner m salary Labor Materials and supplies Street signs Outside equipment rental and labor Sanding and snow removal: Labor Materials and supplies Miscellaneous TOTAL HIGHWAYS Year Ended December 1 Increase, iQ 1954 Decrease* $ 58,581.32 1,211.45 1,050.00 787.00 .105.38 145 no 61, 1.1 $ 349390°32 3926 J33, .32 164.50 12x00 385.81 260.05 1,86979 290.12 44 .64 1,07955 $ 4,581095 4,752.63 1 0.1 112, 0. $ 559480073 2,191.4o 2,420046 1,068°64 5090 236.93 159504.97 5,691.88 32,001073 15,19705 691.67 19608.67 99035.01 941.4o 0.10 5142,166.57 48,505.55 908.97 700.00 1,:190.00 mo- 150.16 $ 9,115.97 402.-65 164.50 .12.00 3434,57 15.05 290.90 m40� .l5 109775079 $ 4,468.21 4,445.76 :4.74 92418.71 11649-38 $ 529261092 657050 2,40799 847.45 274.15 130.62 16,394013 5,141.83 26,800080 8,992.29 660045 1,634.87 5,946.14 276.00 104. 1 9530-85 $ 10907577 302.48 350.00 03.00* 105.38 101426!2 $ 25,274035 29860.67- _o® -om. 51.24 155.00* 19290.12 4m.49 30930307 $ 113074 346087* _71.44 0, tOl. $ 3,218081 1,533-90 12.47 221.19 268025* 106031 889016* 550005 5,200093 6.9 204.76 . 31.22 26.20* 3,088.87 665.40 14061* 19,39. ®24® 4.. i -- GENERAL FUND DISBURSEMENTS (Copt' d ) Sanitation and waste removal: Weed eradication: Labor Supplies Other Rubbish. disposal Maintenance of storm sewers: Labor Supplies TOTAL-SANITATION AND -WASTE'REMOVAL Equipment maintenance: .Repairs and replacements Village labor 'Gas and oil Insurance Tires and tubes Fuel Supplies Power and light Telephone Towel service Other TOTAL EQUIPMENT MAINTENANCE UnallocAted expenses: Workmen's compensation insurance Audit Settlement of law suits Other TOTAL UNALLOCATED EXPENSES Tree trimming: Labor Other TOTAL TREE TRIMMING Capital outlay: Land Land improvements Buildings Furniture and fixtures Highway department Police department Fire deparment Executive equipment Engineering department Traffic signals Library Mi scellaneou s,;,,equipment TOTAL CAPITAL h OUTLAY Year Ended December 31. Increase 1955 1954 Decrease* $ 585.35 $ 765047 $ 180.12* 222083 384000 161-17*- 254.25 42062 211°6.3 136.84 -o- 136.8r+' .1,851088 ®o- 3 390517,71 $ 79052063$ 9,3210.53 89114o91r-- 39947058+- 29 058 e 71v-, 1,1450821 1,141098 215-64t-- 228.55v,,, 110012 14Z.74 5 33, 485,21 $ 3,340003 3,9450oo 45o.00 141025 7,87802 $ 4,027016 2440 1 49271.67 $ 27.50 8,883031 825058 2,135028 18,320015 49657076 39060021 X1,257085 '2,966000 59�98030 9,1777 19459046 619.52, 3,271007 6,942060 9,698°71 5,869078 4,348036 19515-82 1,165x52 2,01193 33415 213-50 181.96 32,272-33 $ 3,621081 5,687050 488093 37.00 9,83502 $ 59572016 387-86 59960.02 $ -0- 6,228006 859573-75 12,217024 4,681022 2,456014 677°63 1,267082 1,814090 5,072.10 1,544036 11311-03 122, 02 392042 619.52* 219.92* 110003 377.18* 2,245013 400078* 542-89 19070* 869.95* 118051* 15005 110012 T 19202. 28178* 1,742050* 3893* 106025 1,95696* $ 1,,5450oo* 14 a 3 * 19688.31* $ 27°50 849�40 8e12 7* 10,081096* 13,638°93 2,201062 2' - 485006 1,55765* 2,106010* 3,748097 120 * 739666.50* _ �5® GENERAL FUND DISBURSEMENTS (Cont!d) Reimbursable expenditures: Services for contractors Supplies for liquor store Sundry TOTAL- REIMBURSABLE EXPENDITURES Prior year's expenses and encumbrances: Due to other funds at year-end: Park Fund Waterworks Fund -Sewer Rental Fund Special Assessment Funds 1951 Second Series Improvement Fund Construction Fund Permanent Improvement Revolving Fun Encumbrances at year -end Edina Firemen's Relief Association TOTAL PRIOR YEAR'S EXPENSES AND ENCUMBRANCES Interfund: Loan from Permanent,Improvement Revolving Fund repaid Advance to Construction Fund Hydrant use. tax transferred .to Waterworks Fund Disbursment for Waterworks Fund Purchase of investments for Liquor Fund Special assessments on park property paid by General Fund Work done by Construction Fund reimbursed ° Payment on November, 1955 tax settlement due to other funds TOTAL IN TERFUND Salary of health officer Civilian defense Dog catcher Return of performance deposits Increase in Petty Cash Fund ANALYSIS Balance at January 19 1955 Receipts for the year Disbursements for the year Year Ended December 1._ Increase 1977 Decrease* 6 19.407 '57 19824 5 19 1 $ 49.270.00 59500.00 ®o- -o- 390.63 129.85 d 250°41 89631.45 4,,785.14 23,957.48 259000.00 mo -o® 3.9299016 196098, 201 2. 0 0 $229023-44 490.80 25.10 19688078 49000.00 175.00 $ 272..03 4.0 317.33 49109.35 49000.00 85.00 266.58 648.40 119°79 689343.60 -0- . 77,572.72 6 11135.54 .98.04 9347.48 160.65 19 500.00 85.0o* 266.58* 25777* - 10.06 250.41 59,712°1.5* 4g785.14 $ 539615.24* $ 759000.00 759000.00* -om 259000: -00 69050.00 65A4 509000.00 39533-91 . -o® 69050.00* 65.44* 509,000.00* 234.75* 196.98 -0 201932 .30 U1341649035 "9 ,17 °09 490.80 285.39 29170.38 -o- -om -0- 260.29* 481.60* 49 000.00 175.00 $7139639.13 $6799984.54 $ 339654.59 ------ --_ - -- ----- - - - - -- ----- - - - - -- ----------- ----- - - - - -- ----- - - - - -- OF CHANGES IN CASH BALANCE $ 919021067 655.624.41 Balance December 31, 1955 $7469646..06 Z-13:632 $ 339006.95 ._26_0. * Indicates re.d.figurea - - _ �7e GENERAL FUND FIXED ASSETS ` VILLAGE OF EDINA Year ended December 319 1955 Balance Balance January December 1" 1955 Additions Deductions Transfers 31, 1955 Land $ 802'728,16 $ 27-50 $ 809755 66 Land improvements 92139072 89883031 189023003 'Buildings 3281'589072 825058. 329,415°30 Furniture and fixtures 259062°82 29135°28 27,198.10 Equipment Highway 1317207044 229457045 $5,173 28 $19622.57 1509,114018 Police 109321045. .19620024 39:606°63* 109402034 Fire 31,87.0075. ,5,307076 31060021 34,930°96 Election 2,035.83 29035.83 Engineering 6,130°42 27754,06 19984006 109868054 ,Traffic signals 12,716055 29966000 15,682055 Executive -o= 1,7552088 19752°88 Miscellaneous 1 8e 8 998-50 9 4.177.48 09 l.b4 U519168-53 $62793-57 $- om $685,356-8 Construction in. progress: Library 12926036 59293.33 79219069 Widening of highways mo® 279806002 272806002 $642,908020 $84,267088 $69793-52 $ eom $720,382056 * Indicates re.d.figurea - - _ �7e POOR FUND -BALANCE SHEET VILLAGE OF EDINA December 319-1955 ASSETS cash $ 1+9037-55 investments United States Government securities at'face value 69500.00 Receivables: Relief grant-- State of Minnesota $25.00 Delinquent taxes $352.43 Less allowance for delinquent taxes 352:43 -0- Accounts payable Surplus unappropriated LIABILITIES $109562.55 $ 276.02 100 286.53 $107562.55 28- :W 1 POOR FUND STATEMENT OF SURPLUS - UNAPPROPRIATED VILLAGE OF EDINA Year ended December 319 1955 Balance at January 1, 1955 $ 89777026 - Additions - revenue receipts and accruals; Tax settlements collected 79528.90 Relief grants from the State of Minnesota 101,15 Income on investments _ 12.01 706_4_2,06 $16-419-32 Deductions - disbursements and accruals; Suburban-Hennepin County Relief Bond; Relief orders $29100.39 Administration 352.12 .$29 452. 51 Rural Hennepin County Nursing Committee 3,605.28 Professional services 75.00 69132.79 Balance at December. 31, 1955 $109286.53 STATEMENT OF INCOME AND EXPENSE _ Increase 1955 1954 Decrease* Revenue receipts and accruals; Tax settlements collected $79528.90 $79972.62' $ 443.72* Relief grants - State of Minnesota 101.15 124072 23.57* ,Reimbursement from an outside county -o- 317,11 317.11* Income on investments 12.01 $79642.06. 28.86 68, 443-31 16.8 01.25* Disbursements and accruals: Suburban Hennepin County Relief Board; Relief orders $2,100.39 $29350.72 $ 250.33 'Administration 352.12 1+12,78 60.66* Rural Hennepin County.Nursing Committee 3,605,28 3960 028 -o- Village labor -o- 1,55 14.55* Professional services 75.00 '96,132 -o- 8 75.00 1'250.5-4* $19509.27 $29059.98 , - $ 550.71 *, -29- POOR FOND ..ANALYSIS OF CHANGES IN CASH BALANCE VILLAGE OF EDINA Year ended December 31, 1955 Balance at January 1, 1955 49084.28 Receipts: Tax settlement,received: March, 1955 $ 780°51 June, 1955 39965008 November,.1955 2 781.11 $ 79528.90 Relief grants - State of Minnesota 103098 Sales of investments 8 512,01 16.144', 8 209229,17 Disbursements: Payments to Suburban Hennepin County Relief Board: Relief orders $ 29100039 .'Administration 352.12. T29452.51 Rural Hennepin County Nursing Committee 3,605.28 Purchase of investments 109000000 Professional services 75.00 Accounts payable at January 1, 1955 408 1 9276°02 Less accounts payable at December 319 1955 165191,62 Balance at December 319 1955 $ 49037.55 -30- PARK FUND BALANCE SHEET VILLAGE OF EDINA December 319 1955 ASSETS Cash Receivables; Due from General Fund Sundry Taxes receivable - delinquent Less allowance for delinquent taxes Fixed assets LIABILITIES 6 99573.72* $169001.57 611.20 169632,77 $ 979.25 _ 979.2 -0- 528 879.89 $64993809+ Payables; Accounts payable for expenses. $ 385,71 Accounts payable for 'land 20690.30 31076.01 Salaries and wages 11136°33 Contracts for deed 19600.00 Unexpended contributions for specific purposes; Normandale Park, 65th and Mildred $ 178.50 Landscaping buffer strip west of library 207.53 Cascade pumping 801.73 Dwight Williams Memorial Park 58.95 19_246.71 $79059 =05 Appropriated surplus; Invested in fixed assets $38,226.98 Contributed- invested in fixed assets' 190652.91 579879.89 $64,938.94 * Indicates red figure. -31- PARR FUND STATEMENT OF SURPLUS - UNAPPROPRIATED VILLAGE OF EDINA Year ended December 319 1955 Balance at January 1, 1955 Additions: Tax settlements received: .March, 1955 $ 2,761.94 June y 1955 149389.21 November, 1955 100101+.31 Swimming registrations Proceeds from sale of land Sale of craft supplies Deductions: Operating expenses: Swimming $ 59548.15 Baseball 19769.81 Skating rinks 11,3 58.99 General and administrative 160___ 182.x.9 Cost of craft supplies sold Capital outlay: Land $ 2,690.30 Land improvements 31904.13 ,Buildings and equipment 136.82 Construction in progress 91868-78 Less amounts contributed or charged to other funds,: General Fund $ 39299.16 Wooddale Parerit- Teachers Association 3.50.00 Normandale Community Service Council 130.00 First Edina National Bank 604.97 Wooddale Park program 19626.00 Optimist Club 363:50 Lions Club 418 20 S 6j7 1.8 Transfer from General Fund to eliminate deficit * Indicates red figure. F $ 69743.35* $279255.46 1,317.00 100.00 106.98 289779 °44 $229036.09 $349859.14 101 3 7960-71 Balance at December, 31, 1955_ 380.037.66 $169001.57* 16 9_ool . 57 -32- - - PARR FUND ANALYSIS OF CHANGES IN CASH BALANCE VILLAGE OF EDINA Year ended December 31, 1955 Balance at January 1, 1955 Additions: Tax settlements received from county: March, 11955 -June, 1955 November, 1955 Swimming registrations Shady Oaks parking permits Proceeds from sales of land Sale of craft, supplies Collections on accruals at December 31, 19.54: General Fund Other Dedicated funds: .Wooddale Parent- Teachers.Association Normandale Community Service Council Wooddale Park recreation program Optimist Club Deductions: Swimming Baseball Skating rinks General and administrative expense Capital outlay Construction in progress Payments of liabilities accrued at December 31; 1954 Payment to Hopkins Recreation Commission Dedicated funds: Wooddale Parent - Teachers Association Normandale Community Service Council First Edina National Bank * Indicates red figure. ^�e $ 39767.03* $ 29761.94 149389.21 10.104.31 $279255.46 19104.00 199.00 100.00 106.98 49270.00 216.00 47486.00 S 350.00 308.50 19626,00 363.50 29648.00 • 359899.44 ..$327132-41. $ 59548°15 1,769.81 10,063.50 15;577.21 $327958.67 $. 136'82 137.53 3,274.35 49189.14 199.00 $ 350.00 130.00 604.97, 19084.97 '41370 Balance at December 31, 1955 $ 99573.72* -33- F PARK FUND DISBURSEMENTS VILLAGE OF EDINA Swimming: Instructors Bath house attendants Bus rental Sundry Baseball: Coaches Umpires Bats balls9 Bus drivers W �tenance ry etc. of ball diamond Skating rinks: Labor - rinks Labor - buildings .Salary.of attendants Power and light Lumber .Supplies Sundry Other activities: Park at 65th and Mildred Wooddale School .Archery General and administrative: expense: Recreation director Labor _ Water Equipment rental Flower placating Instructors Secretary. Share of lifeguard salary Shady Oaks Lake Recreation and park survey Maintenance and supplies Professional services Mosquito control Recreation supplies Mileage and parking .Interest on contracts for Sundry at deed TOTAL OPERATING EXPENSES (Carried Forward) Years ended December 31, Increase 1955 1954 Decrease* $ 29385.00 33-50 39000.00 129.65 T-5- 4 8.1 $ 19237.32 10.00 490.60 15.89 16.00 6 19769.81 $ 6`9566.61 701.86 29197.68 119.52 71.18 340076 65.89 1090 6 3. 5.0 $ - o- -0- -0- $ 49454.31 49816.79 50.00 39.50 29900.00 3.00.00 50b 00 478.17 345.00 15.28 926.22 164.85 203.23 81.86 S15.577.21' $3299 .67. $ 29325.06 30.00 29000.00 63.10 491+18.16 $ 659.09 131.15 172.20 166.72 1..6. oo -0- 191 5.16 $ 59388.27 559.00 364.78 121.59 I+o . 69 -0- 82.92 69557.25 $ 126.V5 55.35 38.43 $ 220.53 $ 19400.00 59379.78 50.00 2.00 52.90 307.27 300.00 5o4.65 679.02 840.37 -0- 181.60 -0- -0- -130 00 10 02 $22-9368.69 6 59.94 3.50 19000.00 66 19129.99 $ 578.23 121.15* 318.40 150.83* $ 624.65 $ 19178.34 142.86 19832.96 2.07* 30.49 340.76 17.03* 390.25 $ 126.75* 55.35* 8 43* 220-53* $ 39054.31 562.99* -o- 2000* 13.40* 29592.73 -0- 4.65* 679.02* 362.20* 345.00 166.32* 926.22 164.85 203.23 5. 3. 86 2 $10950 ..98 -34- PARK FUND DISBURSEMENTS (f ont o d ) -35- Years ended December 31, Increase 1955 19 Decrease* TOTAL OPERATING EXPENSES (Brought Forward) $329958.67 $22,368.69 $102589.98 Capital outlay: ' Park improvements $ 107.82 $ 51739.05 $_51631.23* Equipment 29.00 51206.19 5,177.19* .Construction in progress 1 131.26 606 2 3,27 .35 11,07 0 ?,802! 1 * Payments on liabilities accrued at December 31: Accounts payable $ 11089.14 $ 5,967.83 $ 4,878.69* Contracts payable 3.100.00 -o- 1.100.00 _ $ 9189.1 79 7. 3 19778-69* Dedicated Funds'.: - Hopkins Re.creation'Commission: Collection for Shady Oaks parking permits $ 199.00 $ 294.00 $ 95.00* Park at 65th and Mildred: Amount expended for summer recreation instructor 130.00 170.00 40.00* Wooddale Parent- Teachers Association: Amount expended for recreation program 350.00 350.00 -o- Wooddale School -o- 37.98 37.98* First -Edina National Bank: Amount expended for landscaping library - buffer strip 604.97 -o- 604 $ 11283.97 $ 851.T8 $ 31.99 'Payment of special assessments on park property $ -o- $ 4.85 $ 4.85* Payment of General Fund -o- 35.00 3 .00* - o- 5 39.85 * TOTAL $41,706.13 $40,304.85 $ 11401.28 r ( -35- Land Skating rinks' Land improvements Buildings Park equipment Furniture and fixtures Trucks Miscellaneous Construction in progress: .52nd and Arden 50th and Woo'ddale .East Mirror Lakes I 57th and Chowen PARK FUND FIXED ASSETS, VILLAGE OF' EDINA Year ended December 31', 1955 Balance Balance January December 10_19 5 -Additions 319 1955 $249790.70 $29690-30 $279481.00 19871-47 1?871.47 11+2080.67 39904-13 179984.80 341.61- 107-82 449043 12373-03 .29.00 1,402-03 263.22 .263.22 52082.15 52082.15, 77.00 77.00 $479879.-85 $6,731.23 137 ,611.10 131.26 131.26 -0- 2024.85 29524.85 -0- 782.12 782.12 -0- 30.56 . 30. .TOTAL .$489011.11 $9,868-78 $579879.89 -------- ------- -36- Total Eliminations ASSETS Cash on deposit $ 49,573-41 Investments = U. S. Government securities - face value 728,000.00 Receivables: Special assessments: Current - certified in 1955 - collectible in 1956 $ 638,269.22 Delinquent 447622.06 Deferred 282 1.24 2. 3'244.719.57 ' 2 6 -o- Less allowance for delinquent taxes $3,7212914:2.95 -o- Taxes receivable - deferred -o- 21,840.00 Taxes and assessments receivable - Village share of projects: Current 32,177.62 Deferred 228.710-88 53,9 2, 1- 21, 0.00 Less allowance for uncollectible taxes -o- 1 140.00 99821 209700.00 Other receivables 14-76 TOTAL RECEIVABLES $3,982,846.21 6 209700.00 Due from other funds 218,638.19 Due from Construction Fund for advances -o- 4969342.30 Construction in progress: Current 582,551.87 Deferred 186,784.11 Unallocated construction costs 45,034.21 Amounts to be provided for future payments on Village share of Minneapolis- Saint'Paul Sanitary District sewage disposal plant 22,425.01 $51815,853.01 $517,o42.30 LIABILITIES Accounts payable $ 739.34 Accrued and .future interest 36,536.00 $ 700.00 Canceled assessments refundable 92186.50 ,Due to Hennepin County 10,120. Due to other funds 322,551.65 Construction contracts payable 186,784.11 Water main and sewer connection deposits 13,107.03 Advances from Improvement. Funds -o- 496,342.30 Loan from General Fund 75,000.00 Payable to City of Minneapolis for Village share of sewage disposal plant 227425.01 Bonds payable 417397000.00 Unapplied connection charges 1369168.46 Reserve for assessment adjustments 171,913.28 Reserve for debt service -o- 20,000.00 Surplus: Appropriated 69117.27 Unappropriated 86,203.96 $5,815,853.01 $517,o42.30 * Indicates red figure. IMPROVEMENT COMBINED VILLAGE December Permanent Special Improvement Debt 1950 Construction Assessments Revolving Service irk Series $ 12639.23 $ 122099.19 $ 452.07 $ 31200.00 1002000.00 361500.00 17,500.00 332000.00 $ 72963.70 $242453016 6 13,577.85 31182.08 4,375.6o 112882.76 -o- 2.330-87 131 7 . 6 0 .82 ,13 . -o- 1 228. 7 , 9.3 -o- 1 .10 6 102283-55 41 . X7,721.03 $7 1 12 .0 612566.27 21,840.00 660.24 -0- 102283- 7,721.03 $21,840-00. 622226. 1 -0- 10,2 . 72721.03 20,700.00 3 622226. 1 4.76 -0- 102283-57 $571721.03 20,700. 62 ,231.27 359150.64 84,638.12 .34,940.87 5829,551.87 186,784.11 22,425.01 $996,125°85 $165,945.87 $58,173-10 t41,400.00 $130,807.49. $ 739034 6 409.75 $ 11400.00, 4 533.33 8,745029 252.05 49.95 114.70 508.80 $1349892.41 63+.00 61153.32 21757.24 186,784.11 13,107003 .496,342.30 75,000.00 22Q,425.01 18)000.00 84,392053 40,000.00 Q 80,000.00 34�94o.87 20 759°38 146.68 20,000.00 A r. 6,117.27 25,172.07 lo,154.31 4, 920.57 \ $906,125.85 $165,945.87 $58,173.10 $412400.00 $130,807.49 Sanitary ' Improvement Viewer Southdale 19 4 Improvements Bond No. 53 Improvements first- eries s � econd S� ies Redemption $ 21405.77 $ 11092.65 $ 329073 27891.33 $ 21,743.67 37000.00 407000.00 47,000.00 4.57000.00 607000.00 $ 557091:36 $ 347070.34 $ 23,884.46 $ 632444.99 $ 169,122.84 697.71.93 ..924.52 476.97 17144.72 492.922.61 16 01.41 107.348-34 278 611. 1 28 2 .84. 27 .90 202, 9 . 7 $1317709-77 $343,201.10 6174542418.66 6 28 .4 65087q-9 1 .10 628.86 6192206-7. 1 0 8.61 $124167-1717 17,679.24 U252521.96 2 Z12-87 $1,381, 9 . 1 25,107.58 196,145-72 $7297751-71 $1922067.41 12 , 71..1 $3252521 $1,3811698-81 729,7 1.71 192,0 7.r+1- 12 , .71.1 32 . 21. 1,3 12 9 .791 729,7 1.71 6192,067 $1249671 32 ., 21. 7 $1-138i 1 9 . 1 183.00 40 ,121.43 5 , 095 971.20 1,1 644.43 2,070.14 13,201.31 191,682.02 26.9,814-.$ 4�59 034.21 $7379410.62 $318,315.70. $190,294.65 $5669066.41 $117342901.75 $ 3,085.00 $ .19400.00 $ .51020000, 6 17,073.33 $ 3,417.9"0 2180.05 282.45 55945 3,164-:. 99647.89 51721.64 382779:U 730,000.00 3159000.00 .183 00 12.65 3,809-72. $7379410.-62 $318,315.70 1759000.00 5401000.00 195709000.00 3,628.00, 142765.32 105,854.62 336.31 29.84 $1907294065 $566,066.41 _619734,901.75 FUNDS i BALANCE SHEET OF EDINA 31, 1955 1952 1953 Immprovements 1951 Improvements Improvements Improvements SecondSer.ies First Series becond Seri es First Series First Series $ 1,833-38 $ 517.42 $ 165.47* $ 615.51 $ 283.58 52,000.00 132000,00 959000.00 ..1021000.00 84,000'.00 $ 20,5,344442.47 $13,262.51 $ 84,986.40 $ 66,681.29 $ 62,197.85 6.23 688.12 87216.00 3,184.97 ,328016 58.133- 0 4.66 363,778.62 147,407.61 241.151.39 V799112.63 , o 02 . ,9 1.02 217,273. 7 $306 , 77. 4,3Z9 1. 8 064.2 1. 1 184 .2 74,733-08 0, 91.91 54261326-77 2101080. $288,182.13 552.61 51857,19 74,713--07 $61,144.52 84269326.777 U248,502.91 -$288,182.13 74,733-OU $61,144.52 $426,326-77 $248,502.91 $2889182.13 _i 10.00 74,74.3-.08 1,1 .2 2 32 .77 $2489502.91 $288,182-13 75409.21 _ __---- 486.84 1,336.36 82055.99 lo,181,64 $137022.03 $742661.94 $529,648.14 $359,174.41 $382,647-35 496..00 $ 527.67 6 882.92 1 32208.33 $ 32199.67 12.27 112.56 64.33 210 .1j 193.20 764.65 271.85 �364e75 5,346.1'+ 779696.67 71589.39 33,333.49 93,000.00 7,409.21 14,623.10 67,000.00 4301000.00 3509000.00 9,242,85 877.66* 473.72* 15959.49* 331,000.00 8,434.40 163237.43 7,806,46 11,422.21 6,315.04 .$137,322.03 $74,661.94 $529,648.14 4359,174.41 $382,647,35 Permanent Improvement Revolving $5,753.28 $2,959.06 8.48 186.63 $3,154.17 .. $ 360.00 158.72 7.94 1,692.16* 81.36* 1 246. * $10,154.31 j Special Total Assessments Balance at January 1, 1955 is 43- 9591.40 $209716.22 Additions - Interest spread on deferred assessments for collection3n 1956 $189,955-58 $ 577.19 Interest collected by Village on prepayment on special. assessments 91.53 4.47 Accrued interest on sale of bonds 5,048.87 Income on investments 3,140.28 557.63 Assessments over collected 899.68 899.68 Capitalized interest 33,1 .02 Cancellation of refunds payable 1,1� .04 1,144. "04 Reinstatement of assessments on property dedicated,to state in prior year 2 1 0. :$2357585 6 31183-71- Deductions: Transfer to Debt Service Funds for interest $ 360.00 Interest on bonds: Paid during.year 83,718.36 $ 19.26 Accrued at. December 31", 1955 35,426.25 Payable.during 1956 409.75 409.75 Advertising 41.90 Bank service charges 963.76 58.29 Adjustments 12.65 Transfers a Allowance for delinquent taxes 71,845.83 29036.03* Reserve for assessment adjustments 69.50 150.86 Appropriated surplus for payments to City-of Minneapolis for Village share of sewage disposal plant 125.0-1 125.05 1924973.0 6 1 272.84* Balance at December 31, 1955 $ 86,203.96 $25,172.07 Indicates red figure. Permanent Improvement Revolving $5,753.28 $2,959.06 8.48 186.63 $3,154.17 .. $ 360.00 158.72 7.94 1,692.16* 81.36* 1 246. * $10,154.31 j 1953 Sanitary Improvement Im rovements Sewer Southdale 1954 Improvements Bond First Series No. Improvement i F. s.t Series Second Series Redemption $ -o- $ -o- $ -o- $ -o- $ -o- $ -o- $11+,435.01 $26,095.91 17.62 3.80 1+79.36 236.76 1,666.84 $16,598-73- , 9 . 3 2 , 3367 $ 69563.67 $26,533.75 3,19967 67.73 216.33 9.71 452.72 41233.04* 6,315.04 $22.526.7-5 $_3,809 -_72 $9,608.87 $6,21+2,96 $19,099.87 $69,258-53 1.90 2.30 5,048.87 116.52 129 -.17* 482.68 332.68 71307.76 25,827.26 $9,725-37 111 . g 27,39 .36 8100,467.3 T $6,1+78.34 $2,800.00 $ 91140.00 $107600.00 3,085.00 19400.00 51020.00 17,073-33 955 18.90 -14 e 13 9.55 32.1+0 22.80 26.50 5.00* 133.60 ;: 11565.25 13,194.1+1, 72,719 87 69.725M . 2 . UO . o $ -o- $ 336-31 $ -o- 6 29.84 -38- IMPROVEMENT FUNDS STATEMENT OF SURPLUS - UNAPPROPRIATED VILLAGE OF EDINA Year ended December 31, 1955 1950.Improvements First Series Second Series $ -o- $11,930.91 $3,085.33 $ 31731.84 6.34 6.34 81.46 485.45 .39173.13 6 49223-637 $1,116.00 $-1,032.00 533.33 496.00 '25.28 24.78 39422.05* 11635.67* 1 . * $47920.57 't . 9* $16,237.43 1951 Improvements First Series Second Series $5,190.99 $ -0- $3,029.61 $211447.31 1.56 30.03 72.12 77.10 1952. Improvements First Series $ -o- $10,384.09 8.69 161.06 3,103.29 211554-W 5109553- 01,132.00 $11,565.84 6 61737.50 527.67 882.92 31208.33 31.26' 175.47 113.97 11203.11* .21492.00* 494.04 . 2 10.1 $10.553.8 $7,806.46 6111422.21:,. $ -o- FUNDS IN CASH BALANCES OF- EDINA December 31, 1955 211081.46 23,485045 .2,530.41 71122.71 1.9 2.30 $51,626.83 $51,509.61 18,072.12 1561077.10 8,122.14 767.85 8, 63'7.6 3 ,0 .10 92729352..90 $361205.59 $2799112.01 78,161.06 25,000.00 $182,713-71 $186,494.51 1952 1950 Improvement 1951 Improvement Improvement First Series Second Series First Series Second Series First Series 49504.12 $ 29527.31 $ 29119.49 $ 6,759.11 39780.80 $209437.39 $221-731.01 $149150.20 $ 88,626.27 $ 68,687.39 886.81 579-85 7,230.95 2,180.30 29759 -.50 514.52 10,859 69 39625.62 6.34 6.34 1.56 30.03 8.69 211081.46 23,485045 .2,530.41 71122.71 1.9 2.30 $51,626.83 $51,509.61 18,072.12 1561077.10 8,122.14 767.85 8, 63'7.6 3 ,0 .10 92729352..90 $361205.59 $2799112.01 78,161.06 25,000.00 $182,713-71 $186,494.51 1953 Sanitary Improvement Sewer Southdale 1954 Improvement First Series No. 53 Improvement First Series u5econd beries $ 41828.71, $ 4,702.90 $ 2,292.25 $ 29787..18 $ 853.60 $ '69,674.48 $ 549187.45 $32,584.34 $192002.69 $ 221274.68 25,410.71 7,151.84 11843.74 834.60 19523.99 61538.81 17.62 3.80 1.90 2.30 35,479.36 2,500.00 11 , 23.30 $119,652.01 130,236.76 211, 2. 116.52 - 390242.68 510.59 711.25.. 109223.89 30,000.00 $43,759-37 '651,039-177 209009.72 $216,385 36, $467051..60 $532826.35 $420,863.32 Improvement Bond . Redemption $ -o- $ 8,506.42 11570000.00 5,048.87 .00 9-1,583,560-29 $125832560.29 -39- Balance at January 1, 1955 Additions: Remittance from County Treasurer: On special assessments On taxes receivable Collections by Village on special assessments: Principal Interest Proceeds from sale of bonds: Principal Accrued interest Advance from General Fund Sale of investments Collections from other funds accrued at December 31, 1954 Over collection on special assessments Collection from or for other funds Transfer from Permanent Improvement Revolving,-Fund for bonds, interest and bank service charges Advance from Improvement Funds Increase in water main and sewer connection deposits Transfer from Construction Fund Sundry -Deductions: Construction costs charged to other funds: General Fund Waterworks Fund Permanent Improvement Revolving Fund Improvement Funds Decrease in contracts payable: Balance at January 11 1955 Balance at,.December 31, 1955 (Total carried forward) $ 29,072,32 9,504000 6,07832 1,450,136:14 $1)0079082,01 186,784011 $1,494,790078 820,29Z.90 $2,3157088.68 $59511,283.53 $2,095,.310-.89 $93,625.77 IMPROVEMENT ANALYSIS OF CHANGES VILLAGE Year ended Permanent Improvement Debt Revolving Service C'57,750.94 $.441250.00 $ 34,506.12 838.29 8.48 25,116.43 $ 327070.20 570.41 81,948.52 f 612019777 61141.018.72 $118,7,90.67 $158,2268.72 Special Combined Construction Assessment $ 270,774.63 $ 114,734.36 $182883.86 $ 4749601.62 $272739.60 349108.32 472362.63 18.3 �+ 91.53 • - 1,570,000.00 5,048.87 25,000.00 11221,314.26 $ 259000.00 265,877•49 459057.63 .21,644.53 11,730.14 899.68 12,199 57 11,344.35 899.68 �' 855.22 81,948.52 19664.1466.29 11664,466029 21158.26 2158.26 797659.82 °. .00 12 2508-90 1,9 0, 7 . ,7 •,.7 1.91 $59511,283.53 $2,095,.310-.89 $93,625.77 IMPROVEMENT ANALYSIS OF CHANGES VILLAGE Year ended Permanent Improvement Debt Revolving Service C'57,750.94 $.441250.00 $ 34,506.12 838.29 8.48 25,116.43 $ 327070.20 570.41 81,948.52 f 612019777 61141.018.72 $118,7,90.67 $158,2268.72 (Total brought.forward) Deductions (Cont'd): Less decrease in construction in progress: Balance at January 1, 1955: Current construction $ 1832026.55 Deferred construction 1,007,082.01 Balance at December 31, 1955= Current construction $ 5822551.87 Deferred construction 18641784-11 Add construction cost due General Fund Payments on accruals at December 31, 1951+ Decrease in accounts payable Investments purchased Transfers to Improvement Funds Payment to County Auditor for bookkeeping charges $171907108.56 8 $ 20,772, 132.171+.57 Bonds redeemed Interest on bonds Bank service charges Refunds on special assessments Transfers to .Debt Service Funds.for bonds, interest, and bank service charges Charged directly to reserve for assessment adjustments Advertising bond sale Transfer to Construction Fund Payments made for other funds Paid to City of Minneapolis - sewage disposal plant * Indicates red--figure. $2,315,088.68 552,91+7.15 Balance at.December 31 ,1955 IMPROVEMENT ANALYSIS OF CHANGES Permanent Special Improvement Debt Combined Construction Assessment Reyolving_ Service $5,5111283.53 $29,0959310.89 $931625.77 $118,790.67 $158,268.72 $11762,141053 $1,762,141.53 219572.95 12284.31 245.59 $ 18,782.04 941.87 586.00 11197,296.49 2509000.00 441000.00 17,500.00 6 32,000.00 79,659.82 7M59-82 813.80 39-95 91.70 5419000.00 319000.00, 120,000.00 104,833-01 1,157.01 21910.00 963.76 58.29 158°72 36.65 16.34 819948.52 81,948-52 11454.99 487.20 41.90 196647466.29 855.22 5 2 .32 1 10.12 2,093, . 71$81,526!F8 68 $118,77-70— 0 1 ,0 .72 1 49,573.41 $ 12639.23 $129099.19 $ 452.07 $ 31200.00 11 FUNDS IN CASH BALANCES (Contod) 1952 1950 Improvement- 1951 Improvement Im rovement First Series Second Series First Series Second Series First Series $51,626083 $517509.61 $36,205.59 $279,112.01 $1867494.51 It $ 549.76 :1 $337000.00 $337000.00 13,000.00 $151,000.00 $1057000.00 78.10 43.45 29.15 120.45 58.00 16,000.00 157000.00 20,000.00 1157000.00 707000.00 11748.00 17608.00 11813.00 121685.00 10,587°50 25.28 24.78 31.26 175.47 113.97 140.10 265.00 296.56 119.53 $50,991-48, .2 $35.688.2 .8279,27Z.48 $185,879000 $ 63535 $ 19833.38 $ 517.42 $ 165047* $ 615.51 It 1953 - Improvement First Series $1192652.01 $ 759000.00 62.10 34,000.00 10,092.00 67.73 146.60 S119.78-77 $ - 283-58 Sanitary S ewer No. 53 $2169385.36 $ 67,000.00 209.20 120,000.00 269533.75 216.33 20.31 $213,979-59, 2,405.77 Southdale 1954. Improvement Improvement First Series.. econd Series $461051.60 $53,826035 $420,863.32 $ 711.25 9 55 172,966.29 $417,971 .99 6 12092.65 329-73 $ 2,891.33 Improvement Bond Redemption $1,583,560.29. $ 591667.32 10,600.00 26.5o 22.80 114919500.00 $1161,_.2 $ 212743.67 J -40' 355.87 $359000.00 j 47,129.17 .$235,000.00 26.75 .36.20 18075 9,903.75 59250.00 91945.00 18.90 14.13 32.40 9 55 172,966.29 $417,971 .99 6 12092.65 329-73 $ 2,891.33 Improvement Bond Redemption $1,583,560.29. $ 591667.32 10,600.00 26.5o 22.80 114919500.00 $1161,_.2 $ 212743.67 J -40' -VI tW The following schedules have been bound separately for convenience in reference: IMPROVEMENT FUNDS .Special Assessments Receivable: Current and Delinquent. . . . . . . . . . . . . PAGE 41 Deferred . . . . . . . . . . . . . . . . . . . . . 1+2 Construction in Progress: .current . . . . o . o . . . . . . . . . 44 Deferred. . . . . . . . . . . . . . . . . 46 Summary of Reserve for Assessment Adjustments and Outstanding Assessments and Bonds. . o . . . .49 Contracts Payable . . o o . . . . . . . . . . Bonds Payable . . o . , . . . . . . . ... . 55 Bonds Payable and Bond Interest of Special Assessment Funds o . o . . . . . , o . 56 +'r WATERWORKS FUND BALANCE SHEET VILLAGE OF EDINA December 31, 1955 ASSETS CURRENT ASSETS Cash: On dep osit Appropriated funds Working fund investments: U. S. Government securities - at cost Accrued interest receivable Less amounts segregated and shown below Accounts,receivable: From customers Sundry Due from General Fund Inventories: Meters - at cost Supplies - estimated Prepaid insurance OTHER ASSETS Segregated- pecurities: For reserve for debt retirement For commitments on construction FIXED ASSETS.- Note A Land Land improvements Buildings and equipment Less allowance for depreciation Construction in progress * Indicates red figure. $ 21406.68* 15,931.25 25.00 216,674.44 217, 0 . 201,244.60 24,463.42 1,165.71 6.850.00 3,646.20 13 750.00 59396.20 715 68 02. 13,549.57 16,261.86 32,479.13 TOTAL CURRENT ASSETS $ 327526.25 1688718 35 201,244.60 $ 29625,36 $ 15.,927.30 1.662.1+o8.87 1 ,034.23 1578629.98 1,507,404.2 5 , 881_ 673 10561:498.89 $1z831s145.93 See notes to balance sheet. 4 LIABILITIES CURRENT LIABILITIES Accounts payable and accrued expenses Trade accounts Salaries and wages Interest Due to other funds: General Fund Improvement Bond Redemption Fund. $ 89921.25 172.41 3s908,33 $ 139001.99 738.00 775.28 19513.28 Current maturities of bonds payable TOTAL CURRENT LIABILITIES LONG -TERM DEBT Bonds payable - Note B $ . 3799000.00 Less current maturities - shown above 220000.00 SURPLUS Revaluation of fixed assets - Note A $ 349151.32 Contributed by special assessments - Note A 192049720.32 Contributed by General Fund .169380.66 22 000.00 63 -11.27 3579000.00 Earned: Appropriated 489457,50 Unappropriated 133.920.86 182,378.36 194379630.66 -- - -- - -.57- WATERWORKS FUND NOTES TO BALANCE SHEET VILLAGE OF EDINA December 319 1955 Note A - The original utility purchased in 1947 is carried at 'amounts based on appraisal at time of acquisition. Subsequent purchases are carried at cost. Water mains for which the benefited property owners have been assessed are carried at construction cost with contra - credit to surplus contributed by special assessments. Note B - The annual maturities, due dates, and interest rates are as follows: Annual maturities and interest dates Interest rates Annual amount of maturities: 1956 1957 1958 1959 1960 1961 1962 1963 1964 1965 1966 ,1967 1968 1969 1970 1947 Issue March 1, and September 1 2 1/2 and 23/4 $ 7,000.00 8,000.00 8,000.00 8,000.00 89000.00 109000.00 109000.00 109000.00 ]09000.00 10,000.00 10,000.00 109000.00 1953 Issue March 1,- and September 1 2.75% $ 5,000.00 5,000.00 59000.00 59000.00 59000.00 59000.00 59000.00 59000.00 59000.00 5,000.00 109000.00 10,000.00 1955 Issue Total March 1, and September 1 2.60% 2.30, and 1.50 plus additional coupon of $7.50 $ 10,000.00 10,000.00 10,000.00 10,000.00 101000.00 109000.00 10,000.00 109000.00 lo,000.00 10,000.00 109000.00. 10, Poo. 00 30,000.00 309000.00 200000.00 $1097000.00 $709000.00 $2009000.00 $ 22,000.00 239000-00, 23,000.00 23,000.00 23,000.00 25,000.00 259000.00 259000.00 259000-.00 25,000.00 30,000.00 309000.00 30,000.00 309000.00 20.000.00 $3799000.00 Bonds maturing after.September 1, 1957 of 1947 issue shall be subject to redemption and prepayment at.'the option of the °Village on said date and any interest due date thereafter. Bonds maturing after March 1, 1963, of the 1953 and 1955 issues, shall be subject to redemption and prepayment at the option of the Village on said date and any interest due date thereafter. Thirty daysprior mature must be given to bondholders. -58- WATERWORKS FUND STATEMENT OF SURPLUS VILLAGE OF EDINA Year ended De cembe r '31 1955 Contributed Contributed by by Total Unappropriated Appropriated Assessments General Fund Revaluation Balance at January 1, 1955 $170801241.04 $1069127.63 $23,928-13 8982971.32 $16,380.66 $342833.30 Additions: Net income for the year 517515.62 51,515.62 Water mains contributed by special assessments 3051749-00 3051749-00 Appropriation of funds for reserve for debt retirement -0- 24,404.37* 21+7404-37 Depreciation provided during the year .on excess of appraisal value over cost -0- 681.98 681.98* Premium on bond.sale 12.00 — 125.00 BALANCE. AT DECEMBER 311 1955 $17437,630.66 $133,920.86 $48,457-50, $19204,720-32 $16,380.66 $342151-32 * Indicates red figure. _59- or Number of meters At end of year At beginning of in use: year WATERWORKS FUND STATEMENTS OF INCOME AND EXPENSE VILLAGE OF EDINA Income: Sale of meters Less cost of meters sold GROSS PROFIT ON METERS Water sales Penalties Water connection permits Tapping fees _Repair service . Street opening fees Use of hydrants Miscellaneous Refunds GROSS INCOME Expenses: Pumping: Labor ,Power and light Supplies Buildings: Labor Fuel Suppl ie s -Telephone Equipment. rental Water purchased Provision for depreciation Repairs Distribution: Labor Materials and supplies Operation of meters :_ Labor .Supplies and expenses. Equipment rental and outside Provision for depreciation Repairs Power Water treatment supplies 9' Years ended December 31, Increase 1955 19 Decre .ase* 3,401 2,935 $ 129673.25 11.627.95 $ 19045.30 123,209.55' 1,520.05 1,736.50 438.00 2.00 82.00 6,850.0.0 123.70 390.41 1359397,.51 $ 13,931.60 137.67 2;633 $ 8,365,.50 7.566.37 $ 799.13 83,897.22 260.75 19V6+ 1. 2,050 0 101.97 86.00 6°,450 e 00 25.00 $939023-577 $ 752.43 99265.76 46.53 939.25 856.60 353-53 256.84 $ 21865.64 $ 1,978.48 .183.65 164005 641.50 270.00, 697.73 694.25 59674.88 39674.66 1 8 86 82 23 9 7 1.27 rN $1 91 3.00 $ 21865.64 $ 1,978.48 692.93 29648.69 19938.65 29265:02 labor 49265:18 19125.55 299097.17 229599.31 53.80 -o- 1.142.54 - 30- - 79 071 $307242.41 466 302 $ 4,307.75 40061.58 $ - 246.17 39,312.33 1,259.30 395.00 24.00* 99.97* 4.00* 800.00 98.70 390.1+1 ?,373.9 $ 4,665.84 91.14 82.65 96.69 26.46* 19.60 371-50 3,48 2,000.22 96.07 7,578.27 $ 887.16 1,355.76 *. 326.37* 175.06* 39139.63. 61497.86 53.80 6.97 1.142.54 9;870.77 WATERWORKS FUND STATEMENTS OF INCOME AND EXPENSE (Cont'd) Expenses_(cont'd): Admiihistrative and general: Salaries:.. Superintendent Clerical (General Fund) Meter reading Meter reading supplies Offic® supplies, postage, and telephone phone ,.Professional services Equipment rental and repairs. Insurance .Supervision expenses Provision for depreciation, Miscellaneous TOTAL OPERATING EXPENSES OPERATING INCOME Other income: Income on investments Other deductions: Bond issue expense Interest on bonds and contracts Fiscal agent's service charge Loss on equipment scrapped - tools Loss on sale of old water tower NET INCOME ti Depreciation charges to operations included in expenses Years ended December 31, Increase, -1955 1954 Decrease* $ 2,131.48 27695.14 2,688.17 139.82 702.10 850.00 167.15 295.23 540.00 io 7-78 11.151.60 609391-V6 1.182 ,58 619574-04 $ 849.63 81381 :4045 -0- 787.26 $ 101058.42 $ 51, 515.62 $ 2'058.12 1,939.85 1,983.53 100.98 752.86 550.00 380.87 307.39 39.55 375.28 .F : 0 162.60 38,292.33 5,337.08 28.79 3.37 -0 5.369.2 . $32,923.09 755.29 704, 64 38.84 50.76* 300.00 213.72* 12.16* 500•.45 396.45 170.78 $ 2.663.17 $20.112.21 $229261.73 1 081 �i.71 23 9- 2. $ 849.63 3,044.00 11,66 3.37* 787.26 $18 9 592.53 $ 351543.78 $269649.25 $ 89894.53 -61- WATER WORKS FUND ANALYSIS OF CHANGES IN CASH BALANCE VILLAGE OF EDINA Year ended December 31, 1955 Balance at January 1, 1955: Operating fund $ 59433.48 Sinking fund 6 '. 12,232. Additions: Collections on accounts receivable $117,531.61 Sale of investments 1009548.14 Collection on miscellaneous receivables 156.01 Coliection on amount due from other funds 3.00 Proceeds from sale of.bonds 200,771.00 Refund on prior years' expense 390.41 Sale of water meters 119576.25 Sundry sales and services 3,1,120.20 4341096.62 6,329. Deductions: .Investments purchased $246,872.02 Meters purchased 12, 54.49 Supplies purchased 92.48. Prepaid insurance 45.10 Additions to fixed assets 889661.21 Payments to fiscal agents: Principal $12,000.00 Interest 69838.75 Service charges 40.45 189879.20 Payments on liabilities accrued at January 1, 1955: Trade accounts $ 49748.05 Salaries and wages 150.48 Contract payable 139990.00 189888.53 Payment on amounts due other funds 99519.10 .Refunds to customers 31.26 Cash disbursement for operating expenses 37.061.52 4328804.91 Balance at December. 319 1955 $ 139524.57 :AVIV : t � Operating fund $ 2,406.68* Sinking fund 15x93 TOTAL _$139524.57 * Indicates red figure. -62- WATERWORKS FUND FIXED ASSETS VILLAGE OF EDINA Year end.ed,December 31, 1955 N A s s e t s Balance January is 1955 Additions Deductions Transfers Land 159892-30 $ 35-00 Land improvements 29194.22 1+31.11+ Distribution system: Purchased, $ 1689108.22 $ 775.28 Contributed by special .:assessments 9019852-71 305,749-00 Contributed by General Fund 16.380.66 - 190967 341. 59 $306,52 .27 $ -o- -o- Buildings and equipment: .Pump house buildings $ 159211.92 $ 109204.73 .$119480008 Wells 39,198.50 31,090.68 Pumps and piping- 379310-45 199225.51+ 17-90 Tanks and towers 1109473-55 $11+9938.10 Office equipment 12863.86 52.92 Miscellaneous equipment 29266-30 17481.55* Water treatment ,requipment -0- 51084.67 Automobile and truck -0- - 650.00 191+81.55 Tools -350.00 9 206.674.58 66.308.54 143938.10 1114,938-15 811.497-.9-8 S.11,2939016.17 $3724p832.82 $11, - 497-95 Construction in progress 110497.98 .. 38;167.34 111+2z.gb* . .TOTAL $1 93229600.67 -------------- $4119,466-30 ----------- '10; ---------- $ -o- ----- _ Allowance for Depreciation Balance Balance, - Balance December January Current December 319 1955 is 1955 Provision Deductions Transfers 319 1955 $ 159927.30 $ -o- #. -0- 2,625.36 161.73 $ 96.38 1687883.50 489398.53 $ 39369.92 $29211.13 192079601.71. 439676.28 21,094.57 .29211.13 11392 M .66 4 6 327.61 $$11,392__,$8655.887 92,505.66 1249792.15 -o- S -o- $ 369896.73 $ 3,435.67.$ 19042.15 709289.18 9986-78 2,189.75 56,553.89 i 9374023 2,346.60 959535.45 199019.10 49177.95 $142149.84 19916.78 429.01 189.03 784.75 323.92 366.03 $ 444.47 59084.67 -o- 127.12 29131.55 -0- 216.67 444.47 0 00 -.o- 269.-543.0-0- 43.;568.7-f 10 0 , 1142149.94 9 - .619662-408 , . 7 136- 07 :31 $3591+47-40 1. ,1 9. -o -. 38 :167.34 -0- $127199128.87 $1369236.04 $359.543.78 $149149..84 $ -o-. El Net Balance December 319 1955 152927-30 258.11 21367.25 $ 539979.5V $ 114, 903.92 629553.72 111452047.99 764.40 15.616.26 $1177297.70 $1.9.275-9568-17 $ 4,4.77.82 $ 329418.91 81176. -53 629112..65 169720.83 399833:06 92047.21 869488.24 618004 17298.74 245.48 539.27 127.12 42957.55 661.14 11470.41 v o- 35,0.00 40.074-17 22 . $1579371:87 , $19503 37.00 ,0 -o- 38,,167.34 $1579629.98 $19561,498.89 -b3- GARBAGE FUND BALANCE SHEET VILLAGE OF EDINA December. 319 1955 -64- ASSETS CURRENT ASSETS . Casho .Demand deposit $29444.16 investments: ' United States Government securities - at cost $39515°04 Accrued interest receivable 20048 39535.52 .Receivables: Certified in 1955 - collectible in 1956 796,22 Delinquent receivables assessed 319°63 1811 .Q� TOTAL CURRENT ASSETS 671095-53 FIXED ASSETS Equipment $ 247,82 Less allowance for depreciation 22.14 225°68 $79321021 LIABILITIES CURRENT LIABILITIES Accounts payable $19863-50 Due to County Auditor for service charges 5045.613868 , TOTAL CURRENT LIABILITIES 19 809 SURPLUS Invested in fixed assets $ 225;68 Unappropriated 59226058 51452.26 $79321021 -64- GARBAGE FUND STATEMENT OF SURPLUS VILLAGE OF EDINA Year endia d ' December r 31 1955 Uaappro- Invested in priated Fixed Assets Balance at January 19 1955 $521+33-30 $194-91 Deduction: Net loss for the::-year 175-95 Transfer: To surplus invested in fixed assets 30.-77* 30.77 Balance at.December. 319 1955 $59226.58 $225.68 Indicates red figure. Fm -65- W W .,i GARBAGE FUND STATEMENTS OF INCOME AND EXPENSE VILLAGE OF EDINA Operating income: ..Service charges and penalties Expenses: I Collection service Administrative and general: Clerical - General Fund Office' supplies Provision for depreciation Auditing ' Postage General supervision Miscellaneous TOTAL EXPENSES OPERATING INCOME - 'LOSS* Income on investments l NET INCOME °LOSS* Years ended December 334 Increase 1 1 Decrease* $249466.85 $279130.83 $2,661.98* $221836,75_. $24,627.70 S. 1,4320 3 $' 88956 22:14 -o- i75.00 100.00 58.34 90.00 125.00 -o- - o- 26.80 1.850.68 1.169.43 241687, 25.797.13 220. 8 6 1933x3.70 44.63 8.43 $ 175.95* $ 19382.13 419790.95* $ 574.50 56.93* 22.14 75.00 31.66* 125.00. 26.80* 681.2 1 10 0* $17554.28-* 3.80* $1,558.o8* - - . -66 R GARBAGE FUND ANALYSIS OF CHANGES IN CASH BALANCE VILLAGE OF EDINA Year ended December 31, 1955 Balance at January 1, 1955 y Additions; Collections on customers, accounts Tax settlement received Income from investments Collection on amounts due from other funds Deductions; Investments purchased Additions to capital assets Refunds to customers Payment to County Auditor for service cha es Expenses for year r 24,687.43 Less provision for depreciation not 3,378.42 $24,230.81 844.94 52.50 436.58 64,83 62 ,943.25 $ 1,515.04 52.91 35.60 5.20 requiring cash 22.14 249665.29 Accounts payable at January 1, 1955 2 0 8 10 $285312.1 Less accounts payable at December 31, 1955 18813.05 26,499.09 Balance at December. 319 1955 $ 21444.16 -67- 4" * Indicates red figure. -68- SEWER RENTAL FUND BALANCE SHEET VILLAGE OF EDINA December 319 '1955 " ASSETS CURRENT ASSETS Cash $ 600.79* Investments: U. S. Government securities - at cost $279100.52 Accrued interest receivable 144,82 279245.34 Assessments receivable 276.72 TOTAL CURRENT ASSETS $269921.27 FIXED ASSETS Equipment - at cost $ 22118-43 Less allowance for depreciation 191.78 19926.65 $289847.92 LIABILITIES CURRENT LIABILITIES Trade accou}its payable $109142.99 Due to Hennepin County 1.8 TOTAL CURRENT LIABILITIES 1109144.84 SURPLUS Invested in fixed assets $ 19926.65 Unappropriated 169776.43 186703.08 $289847.92 * Indicates red figure. -68- * Indicates red figure. W' A -69- - SEWER RENTAL FUND STATEMENT OF SURPL$S .VILLAGE OF EDINA Year ended December 319 1955 Unappro- Invested in priated Fixed Assets Balance at January 19 1955 $189851017 $19716.97 Deductions .Net loss for the year 19865006 Transfers To surplus invested in fixed assets. 209°68* 209.68 Balance at December 319 1955 $169776.43- $19926°65 * Indicates red figure. W' A -69- - 1 -- SEWER RENTAL.FUND STATEMENTS OF INCOMR AND EXPENSE VILLAGE OF EDINA Operating income: Service charges and penalties Expenses: Operating:. Sewer maintenance and treatment Labor Supplies Repairs Water Power Provision for depreciation Administrative and general:. Clerical and supervision - General Fund Stationery and postage Auditing Miscellaneous TOTAL EXPENSES OPERATING INCOME LOSS* Income from investments NET INCOME- LOSS* Years ended December 1 Increase 1955 1954 Decrease* $209358042 .. S18g.572e'99` $1 ®785.52 $189056,21 $139114082 - $49941.39 19183.16 19968.54 785.38* 25.21 104.01 8.26 R0 51 . 2Q� o , 6 9q78.8o* 1 1 8 -o- 1 1' 8. $ 19562.57 $ 863.07 $ 699.50 114.47 189.36 74.89* 125000 ;i00.00 25.00 0 0 2 6 1 2 S. 1.1 8.13 0 22 - 1 01. 29187.1 *. $._ 19929.27 $ 911 1* 22.08- 316,13 L29 $_19865.06* $ 29245,40 $49110.46* - 70— SEWER RENTAL FUND ANALYSIS OF CHANGES IN CASH BALANCE VILLAGE OF EDINA Year ended December 319 1955 Balance at January 19 1955 59047.94 Additions; Collections on accounts.receivable $209727°95 Sale of investments_ 109000000 Interest, received 319.43 Tax settlements received 181.70 Miscellaneous 1.02 '31.230.10 9 2b 700 Deductions; Expenses for the year $229545.56 "Less provision for depreciation 191.78 $229353.78 .Purchase of fixed, assets 401.46 ,Purchase of investments 179100.52 Payment to other funds 439,58 Payment to County of Hennepin 1.95 Accounts paya -ble at January 19 1955 6 68 88 ` 69981.17 Accounts payable at. December 319 1955 _10010, 2.34 _368878.83 Balance at December 319.1955 $. 600.79* * Indicates red figure. _71_ LIQUOR DISPENSARY,FUND BALANCE SHEET -VILLAGE OF EDINA December 31, 1955 ASSETS CURRENT ASSETS .Cash: - Demand deposit Deposit in transit Working fund $ '+5,123.25 13,555.30 10000.00 . Investments: United.States Government securities - -.at cost $ 492750.00 Accrued interest_r"eivable 229.18 Merchandise :inventory - at cost (applied on,a first -in, first -out basis): Liquor $,70,140.55 Wine 79711.27 Beer 22433.98 Mix 319.60 Miscellaneous 145.70 Prepaid expenses: 59,67$.55- 49,979.18 80,751.10 Unexpired insurance $ 633.65 Supply inventory 75.00 708.6 TOTAL CURRENT ASSETS 1919117. FIXED ASSETS - at cost Land $.169500.00 Land improvements $ 19546.23 Buildings 9 g 39,657.,08 Furniture, fixtures equipment 8.754.10 9,9 7. 1 Less allowances for depreciation 15 :627A1, 34, 330.10 508830.10 $241;947.58 CURRENT LIABILITIES Trade accounts..payable Accrued salaries and wages Due to General Fund SURPLUS Invested .in fixed assets Unappropriated 3 LIABILITIES' $ 15,076.84 1,293.35 8.00 TOTAL CURRENT LIABILITIES $.169-468.19 $ 5098 330.10 174.9.29 2250479.39 $21+19947-58 -72- fi �i LIQUOR DISPENSARY FUND STATEMENT OF SURPLUS' VILLAGE OF EDINA Year ended December 31, 1955 Unappro- Invested in Total priated Fixed Assets Balance at.January 1, 1955 $1567494,42 $103,134,23 $ 539360.19 Addition:. Net- ihi ome for the year 1000275.97 100.275.97 2 ,770.39 $2039410.20 $539360.19 Deduction: Trangfer'to General Fund 310291.00 31.291.00 22 , 79.39 S.2252479-39 172,119.20 373 0.19 Transfer -o- 230.09 2.5� 30_09* Balance at December 319 1955 .$2251479.39 $1749649.29 $ 50,830.10 * Indicates red figure. LIQUOP DISPENSARY FUND STATEMENTS OF INCOME AND EXPENSE VILLAGE OF EDINA Years ended December 31., 1955, and 1954 1 9 5 Liquor Wine Beer Sales $4289551+.74 $467361.10 $692261.97 Less bottle refunds,(allocated on . basis of sales) 968.24 NET SALES 2 ,7 ,3 -1.10 9293.73 Cost of sales: Inventory at January 1st_ $ 66 144.22 $ 7,564.73 $ 2,519.70 Purchases 1 20 ,42 31.789 1 408 2 . e397;347.61+ $397353,090 $564t927-99 Inventory at,December 31st 0 140 �. 7,11.2.7 2.433.98 2 20 0 19,642 63 Ol GROSS PROFIT $1019347.65 $141718.47 $132799.72 PER CENT TO NET SALES 23.65% 31.75% 20.21% Operating expenses: Salaries: Manager Sales _.clerks Clerical General supervision (allocated) Provision for depreciation: Land improvements Buildings Furniture, fixtures, and equipment Repairs and maintenance, Insurance Light and power Heat Telephone Selling supplies Janitor supplies Office supplies Laundry service Burglar.alarm service Audit end accounting Bad checks written off Taxes and licenses L: 'Sundry TOTAL OPERATI TOTAL OPERA Other.income: Cash over Income on'investments 5 Mix and Miscellaneous Total 87602.05 $ 552,779.86 112. $ ,'9. t 476.$3 7'46270 $1,892.20 22.29% NG EXPENSES TING INCOME NET INCOME 1°080.6 $ 551,6.99.23 X426' 786.51 , 009 92.29 80 751.10 S419,941.1 ,9 $ 1319758.04 1 9 5 4 Total $516,548.13 $515 254.q2 $ 769682.42 4 8.8 71,281.27 76.705.58 8 $1201678.57 Per Cent Increase to' et gales Decrease* 1255 1 $36,231.73 213.2)+* 0369444.97, 100.00% 100.00% $ 23.16 $2 88 .86 29, 1'+ 1.02 4 04 5. 52 925l365.5 0 76.12 76.58 $11,079.47 23.88% 23.42% $ 79008.00 $ 6:9683.00 6 325.00 1.27% 1.30%. .15,310.72 149388.49 922.23 2.77 2._79 2,691.58 21631.00 60.58 .49 051 '540.00 2 0.30 -0- $ 231702.49 540,00 19847-81 10 -0- 9 . _ S 61.85 19586.28 881.96 21530-09 158.12 708.39 610.68 209.03 173.25 1,039.23 122.45 0.45 147.15 114.00 800.00 -0- 50.00 52.03 3202 1 991462-97' 9. 2. 7 4'+3.80 369.30 $1001275.97 $ 1,481.27 11 6 293 1. t53 3,258.17 685.61 543.83 252.73 187.85 703.51 63.89 312.84 144.85 131.00 800.00 261.27 74.98 11 20 $ 879094-37 219.50 55.28 $ 879369.15 $ - o- 101.01 87.25 $ 188.26 3,100.05* 22.78 66.85 43.70* 14.60* 335.72 58.56 282.39* 2.30 17.00* -0- 261.27*. 24,98* 67.321* 10282, $129-368.90 224.30 314.02 $12,906.82 . 01 %' .16 .13 .04 .03 .19 .02 .03 .02 .14 -0- .01 01 8 18.03 .08 .07 18.18% .01% .29 •1 .63 .13 Al .05 .04 .14 .O1 .66 .03 .03 .16 .05 .O1 02 6.52% 16.90% .05 .01 16.96% -74- LIQUOR DISPENSARY FUND FIXED ASSETS VILLAGE OF EDINA I Year ended December 31, 1955. Balance Balance January December 10 1955 Additions 318 1955 ASSETS, Land $169500.00 $169500.00 Land improvements $ 19546.23 $ 11546.23' Buildings 399657.08 39,657.48 Furniture, fixtures, and equipment 8.754.10 S 8.754.10 1 _0Z 1 ._TOTAL $66,457.41 $ - -o- $66,457.1+1 ALLOWANCE FOR DEPRECIATION Land,improvements $ 309.25 $ 61.85 $. 371.10 Buildings 89 7 .27 11586.28 9,959,55 Furniture, fixtures, and equipment 40 14.70 881.96 5}2,96166. TOTAL ' $13 2097.22 $2,530..09. $159627`,31 ..NET BALANCE $ 50,830.10 r Fund General: Current Appropriated Poor: Current Park: Current Improvements: For bonds and interest For construction Waterworks: Current Appropriated Garbage: Current .Sewer rental: Current :TAquor Dispensary: ^Airrent TOTAL CASH- ALL FUNDS VILLAGE OF EDINA December 319 1955 Demand. For Working Deposits Deposit Funds Total 339006.95. $ 339006.95 325.00 325°00 4,037.55 9,573.7? *- $ 47,934.18 1.639.23 $ 499573,41 $ 29406.68* 15.931.25 132524.57 2,444.16 600.79* 49037.55 9,573.72* $ 479934.18 1.639.23 497573.41 25.00 2;3 81.68* 15'.931.25 $ 139549.57 2,444.16 600.79* 459123.25 fi139555.30 18000.00 598678.55 $1379535.38 $132555.30 $19350.00 $152F440.68 Depository: ,First Edina National Bank $1259008.35 Midland National Bank of Minneapolis 129527.03 TOTAL $1379535.38- * Indicates red figureo -76- SECURITY FOR DEPOSITS VILLAGE OF EDINA December 31, 1955 First Edina National Bank Midland National Bank of Minneapolis, Demand J Deposits Amount $125,008035 $2401000.00 200,000.00 10,000.00 10000.00 TOTAL $125,008.35 $460,000.00 $ 12,527-03 $ 359000.00 15,000.00 10,000.00 TOTAL $ 129527.03 $ 60,000.00 s e c u r 1 z y- I o r y e Description United States Treasury bonds - United States Treasury-bonds United States Treasury Series D Certificates Federal Deposit Insurance Corporation Independent School District No. 19 Rice County9 Minnesota,-.,School Building Bonds City of Moorhead, Minnesota, Certificates of Indebtedness Federal Deposit Insurance Corporation 2 3/8% 2 I/4 2 5/8 2 1/2 1 9/10 June 15, 1958 June 159 1962 - December 19 1956 Due January 19 1964 Due February 19 1964 -7-7- i Description United States United States United States United States Certificates United States Certificates United States United States Treasury Bills Treasury Notes Treasury Notes Treasury of Indebtedness Treasury of Indebtedness Treasury Notes Treasury -Notes Fund ownership: Improvement funds: _Special Assessment Funds Improvement Funds Construction -Debt Service Waterworks Sewer rental Garbage Poor Liquor Dispensary INVESTMENTS VIL.IAGE OF' EDINA December 31, 1955 Maturity February 16, 1956 March 159.1956 do June 222 1956 do March 157 1957 August 157 1957 Interest Rate 1 5/8% l 5/8 2 1/4 2 2 7/8 2 TOTAL Face Value $ 546,000.00 36,000.00 94,000.00 86,000.00, 359000.00' 176,000.00 U9000.00 $1903.22000.00 Balance January 10 1955 $ 379000.00 596,000.00 115,000.00 - o- 7 8,000.00 70,000.00 20,000.00 2,000.00 5,000.00 - 0- $ 845 V000.00 4; Balance December Purchased Sold 319 1955 $ 44,000.00 854,000.00 250,000.00 49.500.00 X197, 500 .00 247,000.00 17,000.00 1,500.00 10,000.00 50,E 000.00 $1,523,000.00 44 $ ,500:00 876,000.00 265,000.00 32.000.00 $1,2171500.00 1001000.00 10,000.00 8,500.00 $193369000.00 $ 369500.00 574,000.00 100,000.00 17.500.00 6 7289000.00 217,000.00 .27,000.00 3,500.00 6,500.00 509000.00 $190329000.00 Book Value December 310 1955 _ S. 369500.00 574,000.00 100,000.00 17.500.00 728;1000.00 216,872.02 27,100.52 31515-64 1+6250.00 9p7500.00 $1,031,737.58 Taxable_ valuations: Real estate Personal property Tax levies extended: Extended in year .Collectible in year General Parks Bond and interest Poor Public nursing Firemen Is-, relief Fire protection tax rate by mills; General Parks Bond and interest. Poor Public nursing Firemen's relief Fire protection TAXABLE VALUATIONS9 TAX LEVIES, AND RATES VILLAGE OF EDINA .December 319 1955, and 1954 TOTAL TOTAL 1 $1411689276.00 103690115.00 $152537,391.00 1955 1956 $ 3619244.34 31,851.65 319074.78 39884.35 39884.35 49661.22 40661.22 $. 4419261.91 23.25 2.05 2.00 .25 . 2.5 .30 .30 TOTAL 28,40 1954 $121505,840.00 10219p987.00 $1397252827.00 1954 1955 $ 2999909.32 279451.65 34,314.57 4,117.75 39431.46 1,372.58 6,862..91 $ 3779460.24 21.85 2.00 2.50 .30 .25 .10 . 50 27.50 -79- ORGANIZATION VILLAGE. OF EDINA Year ended December 31, 1955 Village Council: Mayor: Dr. Reuben F. Erickson Clerk- treasurer: Gretchen S. Alden (appointed) Trustees: Joseph A. Danens •Arthur C. Bredeson Frank J. Tupa Emil.P. Fronk Robert A: Crinkley Assessor: Alex Creighton (appointed) Constable.: Bert M. Merfeld -Hilding-Dahl Municipal Court: Donald S. Burris, Judge Irving Iverson, Spgcial:�..Judge.. Village Manager: . Warren .C. Hyde Village Attorney: John H. Windhorst Assistant Village- Attorney: Curtis Roy Engineer: - Joseph Zikan Term Expires. December r 31. 1955 1955 1955 1956 1957 1957 1955 1956 1957 1956 1956 Elected, Re -elee d' I or Reappointed to December 31, 1957 1956 1958 1956 Appointed by council 1955 1956 1955 1956 1955 1956 -80- - I) .01 I I OFFICIAL BONDS VILLAGE OF EDINA December 319 1955 Position Name Term Expires, On file with clerk-treasurer: Blanket position Liquor Dispensary employees On file with County Auditor: .Assessor Alex Creighton December 312 1955 Deputy assessor Winifred Creighton May 19 1956 do Millicent R. Towne do do Elizabeth.S,.Williams do do Earl.S. Johnson do do William G. Scott do do A. C. Stringer do do Marleys D. Hawthorne do do Ingrid C. Tornstrom do do Marie Co Drygrov do do Florence M. Drake do I) .01 I I Bond Expires Amount Suret January 289 1958 $109000 Indemnity Insurance Company of North America January 269 1956 500 Anchor Casualty.Company May 19 1956 500 do do 500 do do 500 do do _ 500 do do 500 do do 500 do do 500 do do 500 do do 500 do do 500 do -81- rA IS MUNICIPAL COURT FINES VILLAGE OF EDINA Year ended December 31, 1955 Fines and costs imposed am collected; Balance uncollected January 1, 1955 Fines and costs imposed Collections by Clerk of Court Balance uncollected December.319 1955 Fines due to county and state from General Fund; Balance at January 1, 1955 Collections by'Clerk of Court Payments to state; Clerk of Court General Fund 1 - .State and Village County Total $ 596.00 $ 90.00 $ 686.00 24 1220 00 25.077.75 $249718-75 $1,045.00 $25-763.75 , 24.253.75 _13045,00, 256298.75 $. 465.00 $ -o- $ - 465.00 State and C ouhty $ 290.50 1.05.00 17335.-50 $. 461.00 584.00 13045.00 Balance at December. 31, 1955 1. 290.50 -82- INSURANCE VILLAGE OF EDINA December 319 1955 Fire and Extended Coveraize Compre- - Public Liability Buildings Contents hensive Bodily Injury Damage Other Buildings and contents; _Property Village Hall $2059000(C) $ 2�9000(C) .Tool house - 5150 Brookside 251000(C) 14,000(c) Municipal liquor store 309000(C) 59000(C) Water tower - Concord Avenue 759000(D) Pump house #1 500(C) 29000(0) _Pump house #2 19500(0) 57000(C) Pump house 39250(0) 39000 C) Pump house 39700(C) 69000(C) Library - 4120 West 50th Street 209000(C) .Caretaker home - 5150 Brookside 59000 Automotive; Highways; 1940 Diesel road patrol $ 39700 $100 / 3009000 $ 509000 1946 .Diesel road patrol 99000 100 / 3009000 50,000 1952 Diesel road_patrol 159000 100 / 3009000 50y000 191+5 M. Me tractor with loader 29000 100-/ 3009000 509000 1951 Me Ma tractor with loader 1+9200 100 / 3009000 50,000 1952 Seaman pulvi- mixer 39000 100 / 3009000 509000 1952 Tracavator 1950 International oil, distributor 10 000 AcGal 100 100 / / 3009000 3009000 509000 509000 191+61Ford pickup Actual 100 / 3009000 50,000 1946 Ford pickup Actual 100 / 3009000 509000 1947 Ford pickup 1944 GMC dump truck Actual 100 / 300.9000 50,000 Actual 100 / 300y000 509000 194 Dodge dump truck _ _ Actual 100 /. 3001000 509000 1951 International dump truck Actual 100 / 3009000 509000 1951 International: dump truck Actual 100 / 3009000 509000 1952 Martin trailer Actual 100 / 3009000 509000 1953 'International truck "Actual 100 / 3009000 509000 1954 International truck Actual 100 / 3009000 50,000 1950 Chevrolet tudor 'Actual 100 / 3009000 509000 1953 Huber Road Roller 59200 100 / 3009000 509000 Police department; 1954 Chevrolet sedan 'Actual 100 / 3009000 509000 1955 Chevrolet tudor Actual 100 / 3009000 509000 1955 Chevrolet tudor Actual 100 / 3009000 50,000 Fire department; .1942 International fire truck 6.9000 100 / 3.009000 509000 1946 LaFrance fire truck 1948 159000 100 / 3009000 509000 Willys jeep fire truck 69000 100 / 3009000 509000 1951 Ford fire panel 39900 100 / 3009000 509000 -83- J Automotive (cont'd): Engineering :. 1952 Ford tudor 1951 Chevrolet carryall -1952 Chevrolet tudor Water: 195 Chevrdl:ot tudor 1954 Ford pickup Park :_ 1953 Ford 1 1/2 ton truck Executive: 19.55 Chevrole -t tudor Village liquor_.store: Comprehensive glass breakage. Burglary9 robberv.,:amA theft - within premises +? Burglary;.,. robbery,y and theft - outside premises Burglary, robbery; and theft - merchandise - Employee -0 - honesty bond 'Public liability Merchandise - stock reporting Business interruption Other insurance: Ron - ownership - automobile--liability Independent contractor - general liability General liability - Village premises - operations ..Edina Volunteer Fire Department group accident policy - maximum each fireman Workmen's compensation Note A - 40% coinsurance. B - 50%. coinsurance. C - 8 coinsurance. D - 90;6 coinsurance. Fire and Extended Coverage ;Compre- Buildings Contents hensive Actual Actual. Actual $1009000 Actual Actual Actual Actual Public Liability Bodily Injury Property Damage Other $100 / 3009000 100 / 300,000 loo / 3009000 loo % '300 9.000 100 / 3009000 100 / 3009000 100 /3002000 100 / 3009000 100 / 3007000 100 /,3007000 100 / 3009000 509000 509000 509000 509000 509000 509000 509000 Actual $ - 59000 59000. 109000(A) 109000 50 / 1009000 509000(B) 509000 50 / 1009000 50 / 100,000 .39000 Statutory -84-