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Home My WebLink About1956 Financial StatementsAUDITED FINANCIAL STATEMENTS AND OTHER FINANCIAL INFORMATION VILLAGE OF EDINA, MINNESOTA December 31, 1956 -- 00000 -- 4b ..I.. INDEX ACCOUNTANTS, REPORT .... ............................... PAGE 4 COMMENTS............... ............................... 5 FUND BALANCE SHEETS .... ............................... 18 GENERAL FUND: BALANCESHEET ........ ............................... 20 STATEMENTOF SURPL_ US . ..........................o.... 21 RECEIPTS...o. .... ............e .................. 23 DISBURSEMENTS........ ..............................a 25 FIXEDASSETS ......... ............................... 30 POOR FUND: BALANCESHEET 31 ............................40 O. e.000 t ANALYSIS OF CHANGES 'IN CASH BALANCES ................ STATEMENT OF SURPLUS — UNAPPROPRIATED............... 32 STATEMENT nF TNCOME AND EX EN.SF,�.a,o.....o..o...,.0 ANALYSIS OF 332 CHANGES LN CAS .:............... 3 PARK FUND: CURRENT............ '..o ............................ DEFERRED................ U.......................... 47 4$ BALANCESHEET ........ ............................... 34 STATEMENT OF SURPLUS — UNAPPROPRIATED................ 35 ANALYSIS OF CHANGES IN. CASH BALANCE ..............°.. 36 DISBURSEMENTS.......................... ..........00.. 37 FIXEDASSETS.., ....... ..................e.e.......... 39 IMPROVEMENT FUNDS: COMBINEDBALANCE SHEET .. ............................. 40 STATEMENT OF SURPLUS '— UNAPPROPRIATED..oe..o........ 41 ANALYSIS OF CHANGES 'IN CASH BALANCES ................ 42 SPECIAL ASSESSMENTS RECEIVABLE: CURRENTAND DELINQUENT ......' ...................... 44 DEFERRED........... o ............................... 45 CONSTRUCTION IN PROGRESS: CURRENT............ '..o ............................ DEFERRED................ U.......................... 47 4$ SUMMARY OF RESERVE FOR ASSESSMENT ADJUSTMENTS AND OUTSTANDING ASSESSMENTS AND BONDS.'.......'..... 51 CONTRACTSPAYABLE ... ............................a.. 54 BONDSPAYABLE ..... ..o .... 0'. 6060000900000000050000000 55 INDEX (Cont.9d) WATERWORKS FUND- BALANCESHEET. o ..... .......................o....... PAGE 56 NOTESTO BALANCE SHEET ............................. 57 STATEMENTOF SURPLUS ............................... 58 STATEMENTS OF INCOME AND EXPENSE ................... 59 ANALYSIS OF CHANGES IN CASH BALANCE ................ 61 FIXEDASSETS .......... ..........ao..........00.a..... 62 GARBAGE FUND- BALANCESHEET ....... ............................... 63 STATEMENTOF SURPLUS ............................... 64 STATEMENTS OF INCOME AND EXPENSE ................... 65 ANALYSIS OF CHANGES IN CASH BALANCE ................ 66 SEWER RENTAL FUND: BALANCESHEET ....... ...........................o.o. 67 STATEMENTOF SURPLUS ..................C............ 68 STATEMENTS OF INCOME AND EXPENSE.......o......o.... 69 ANALYSIS -OF CHANGES IN CASH BALANCE ................ 70 LIQUOR DISPENSARY FUND: BALANCESHEET ...................... o.......o....... 71 STATEMENTOF SURPLUS ............................... 72 STATEMENT OF INCOME AND EXPENSE... o ................ 73 COMPARATIVE STATEMENTS OF INCOME AND EXPENSE (50th STREET LOCATION ONLY)................`........ 74 FIXED ASSETS . . . . . . O . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 75 GENERAL SCHEDULES.- CASH— ALL FUNDS.... ....e...o.........o............ 76 SECURITY FOR DEPOSITS .............................. 77 INVESTMENUS......... o...........a ..............o... 78 TAXABLE VALUATION,"TAX'LEVIES AND RATES............ 79 ORGANIZATION.... ....o... 80 OFFICIALBONDS ...... ............................o.. 81 MUNICIPALCOURT FINES ...............o.............. 82 INSURANCE...o..... 83 ..9.. 21 16 ERNST & ERNST FIRST.NAT'L -SOO LINE BLDG. MINNEAPOLIS 2, MINN. ACCOUNTANTS - AUDITORS MANAGEMENT SERVICES ACCOUNTANTSO REPORT To the Village Council Village of Edina, Minnesota OFFICES IN PRINCIPAL CITIES ASSOCIATES IN FOREIGN COUNTRIES We have examined the balance sheets of the various funds of the Village of Edina, Minnesota, as of December 31, 1956 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 sheetsand statements of cash receipts and disbursements, income and expense and surplus present fairly the financial position of the Village Of Edina at December 319 19569 and its various 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 Public Minneapolis Minnesota May 319 195 Accountants Our certificate or report upon an audit or examination is delivered to client with the distinct understanding that any advertisement, publication, or copy therefrom, in full or in part, of such certificate or report, shall be in the form to be approved by us. As a preventive against fraud, attention is directed to the fact that all pages in this report should bear our water mark. s COMMENTS The following comments relate to the accompanying financial statements and to certain phases of the scope of'our examinations SCOPE OF EXAMINATION We reconciled demand deposits to the balances reported directly to us by the depositories. 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 or 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, 1956. The subsequent deposit of cash on hand as of December 31, 1956 was confirmed with the depository. We confirmed the government securities owned by direct corres- pondence with the bank holding the securities for safekeeping. We con- firmed by actual count bonds of the Village, which are owned by the Village, and held in safety deposit box. ' We supervised the mailing of water, sewer rental and garbage customers, statements as of December 1, 1956 and includ,Ad with a selected portion of such statements a request that we be notified of any differ- ences. All differences reported have. been satisfactorily explained. We reviewed current special assessments collectible in 1957, delinquent special assessments and delinquent taxes and reconciled to.the 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 stores to observe procedures followed and to make test counts. We reviewed the clerical computations, and tested prices used by reference to purchase 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, 1956 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. 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 costa from the Construction Fund to the Improvement Funds on assessment projects completed during the year. -5- 4 SCOPE OF EXAMINATION (Cont.1 d ) All ascertained liabilities of the have been provided for in the balance sheets. by direct correspondence with creditors or by Contracts payable on assessment projects have under runs by inspecting final payment claims engineering department. Tillage at December 31, 1956 Accounts payable were tested data in the Village files. been adjusted for over and prepared by the Village 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 the 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 examination 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 receipts for periods selected by us. 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 the chart of accounts and 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. Investments are carried at two bases on the books. Investments by Improvement Funds are carried at face value, and the difference therein has been included in or deducted from income from investments for book- keeping convenienceo Such differences are not material. Investments by operating funds are carried at actual cost. GENERAL 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 monies-or a blanket position bond to cover all such employees. -6- RECOMMENDATIONS A numerical filing of traffic tickets issued, by the police department, to facilitate ascertaining that all tickets issued are processed properly. Installation of a cash register system for centralizing of receipts of cash. This would aid in reducing clerical work and in eliminating an internal control deficiency. We believe that about a nineteen total machine would be more adaptable than a smaller machine at less costa nd in the long run its saving would more than offset its increased costs We suggest also a small cash register for use of the proposed traffic bureau° This would also tend to eliminate clerical work and aid in internal control. Use of work orders for accumulating costs of improvements for operating funds. This would facilitate the locating of the total cost of any unit of improvement. Current periodic pay rolls should be submitted as a claim for approval at the same time as other claims, rather than for an approval at the end of the year. COMMENTS ON FINANCIAL STATEMENTS GENERAL FUND There is included herein a statement of recorded cash receipts and disbursements for the year 1956 in comparison with a similar state- ment for the year 1955. As the aforementioned, statement includes both operating and non - operating items, we have reconstructed the stat -ement for the year 1956 (that for the year 1955 is similarly reconstructed in our report for that year) to show the operations on an accrual basis in comparison with the related budget. Budjet Actual REVENUES General taxes $3619503.00 $35995.96.68 Forfeited tax sale apportionment -o- 297-57 Interest and penalties' 19000.00 19883.81 Mortgage registry tax 39300.00 89813.21 Licenses and permits: Plumbers2 licenses $ 11000.00 21762.00 Building permits 189000.00 18,818.15 Plumbing, sewer and disposal permits 49500000 99929.50 Dog licenses 1,000.00 17974.00 Other licenses and permits .335.00 4 597.00 27,835-00 6 38,080-65 Liquor tax apportionment 99500.00 10,815.84 'Cigarette tax apportionment 89750-00 29542-12 (Total carried forward) $�+ -11; 888.00 $ 299036.88 Actual Over- Under* $ 1.9906032* 297-57 883.81 5,513.21 1,762.00 818°15 5,42. 50 97 .00 1,262.00, l01245-65 p 1,315.84 799.12 $ 179148.88 -7- 4 GENERAL FUND ( Coat i d ) REVENUES (Cont'd.) (Total brought forward) Clerical_ for other funds, engineer- ing and administrative fees Street and sidewalk repairs Rental of land, buildings and equipment Election filing fees Fines (excluding County and State cases) Non - revenue income- Contribution from Sundry EXPENSES General Government Public safety- Police Fire Inspection Liquor Fund T OTAL Public works Sanitation and waste removal Unallocated expenses- Workmen as compensation Audit Contingencies Settlement of suits Other Budget Actual $4119888000 $4299036°88 1049500000 3,500.00 200000 10-00 25,000.00 50,000000 5,5-00000 $600,598.00 Estimated. 102,995.49 3,531°0/ 159020054 20.00 299829.55 509000000 .12,130030 $6429563081 Actual $107939900 $113956839 $ 839698000 51,672000 .13 83-6 0 00 $1499206.00 205,475000 81210-000 insurance .$ Health officer Dog catcher Civilian defense Park operations Capital outlay- Land Buildings Highway department Furniture and fixtures Police department Executive department Engineering department Construction in progress Special assessments on Village property Traffic signals Library Miscellaneous equipment Fire department TOTAL 59425000 2,600000 3,600000 2,000°00 -o- 13,625.00 515000 2,200000 2196108000 $ -0- 10,000000 16,1450oo 3,100000 2965.5°00 -0- 59650000 _ -o- . 79200.00 409000000 500000 0000 $6005598000 $ 829059.11 49,466076 13,712-76 $11+-5 ,23 3 2229200076 89509084 $ 5,415020 2,.590000 -0- 3,211.00 3,396.54 1 •, 120 7 490080 2,21334.25 21,611.00 $ 487809050 5,08469 159798-30 3,73.30 1,324099 81°27 17035063 449472091 69737°08 36,515025 175000 17,008017 2,460.66 $M,2472777 $711,73933 S� Actual Over- Under* $ 179148°88 1,5o4e51* 31.05 14,820054 10000 49829055 -0- 6,630030 $ 419965081 Actual over- Under* $ 69169.39 $ 2; 4205:2 * 121.24* 9-39967-37* 169725°76 299-84 $. 9.80* 10000* 39600000* 1,211000 3.396.54 987-74 24.20* 14025 79056083 *. -o- $ 489809050 4y915-31* 346.70* 639°30 1,330001* 81027 4961437* 449472°91 462092* 3,484.75* 325°00* 179008017;"'1 2.460-66' 9 9 92 $111,141°33 GENERAL FUND (Contid) In cases where a portion of the cost of special improvements is payable by the General.Fund, annual levies are made for bond retirement and interest charges which go directly to the Improvement Fund and are not included in the operations of the General Fund. SUMMARY Excess of actual expenditures over estimated Less excess of actual revenues over estimated GENERAL FUND SURPLUS Balance at December 31, 1955 Add: Decrease in reserve for encumbrances Transfer from Liquor Fund to eliminate deficit in Park Fund at December 31, 1955 Funds donated by State or Federal Government.for.Civil Defense equipment (.A).$1119141033 419965°81 DECREASE $26,795-96 16,001057 $ 69,175.52 $ 547632069 8,66400 219461058 $1069094027 Deduct: Excess of expenditures over revenue $699175-52 Assets traded in or transferred to other funds - net 31067-53 72 9243.05 Balance at December 31, 1956 $ 33,851.22 Note A - Included in total expenditures are amounts from reserve for encumbrances totaling $93,522.91 which were reserved in 1955 and were not included in the 1956 budget. From the foregoing it will be noted that total revenues exceeded the budget by $41,965081, of which the major portion was due to increases in licenses and permits issued, rentals of various items of equipment and from fines and miscellaneous income. The transfer to surplus from reserve for encumbrances in the amount of $26,795.96 is to reduce the reserve to an amount committed in connection with the paving of France Avenue. -9- POOR FUND Reference is made to detailed schedules elsewhere in this report as to the operations of this fund,. The details appear on pages 31 to 330 PARK FUND Reference is made to detailed schedules elsewhere in this report as to the operations of-this fund ° The details appear on pages 34 to -390 Expenditures and income may be summarized as follows: Operations: Expenses $481124.99 Revenues 359338026 Deficit from operations $12,786073 Capital outlay: Provided by contribution from General Fund $77,448-00. Expended 739133 73 49314.27 Net deficit - December 31, 1956 $,89472046 IMPROVEMENT FUNDS To facilitate the accounting for construction costs the Council established the Construction Pund as of December 3.1, 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:. Construction Cash in Progress Available for Net Advance Current ,,Construction Improvement funds: 1950 Second Series- $ 11036036 $ 11036036 1951 Second Series- 193016* 193016* 1952 First Series 87055099 6 177-92 79878.07 1953 First Series 39507076 39507076 Sanitary sewer No.- 53 29070014 2,070014 1954 First Series 49685.92 607096 41077096 1954 Second Series 70,563091 141889-37 559674.54 Improvement Bond Redemption 710,706081 5669926.79 1439780002 (Total.carried forward) $8009433,73 $582,602004 $2179831.69 -10- j IMPROVEMENT FUNDS ( Cont o d ) Construction Cash .in Progress Available for Net-Advance Current Construction (Total brought forward) $8001433.73 .$5829602004 $2179831069 Other funds 1501000.000 150,000.00 Due from. other funds: General $209207046 Permanent Improve - mentRevolving 23,857028 44,064074* 441064074* Due to other funds: Improvement Bond Redemption 19D76.46 General 3,704015 49780061 NET TOTAL DUE ,TO OTHER FUNDS $9111149.60 Construction costs (to be assessed): Permanent Improvement Revolving Fund 49392010 4,392010* Unallocated 1412217.20 141,217020* $7289211034 Other unallocated costs 61263013* Cash provided: Water main and sewer connection deposits 169457-38 Increase in accounts payable 15,724°53 Transfer from General Fund representing balances in closed special assessment funds: Cash 169410078 Investments 6,500°00 22,910-78 Balance at December 31, 1956 $2319767-82 Represented by: Cash $ 259267082 Investments 206,500 00 $231,767082 * Indicates red figure. -11- IMPROVEMENT FUNDS (Contod) Analysis of the unencumbered cash provided by proceeds from bond sales of the various Improvement Funds is presented in the following schedules: Balance of advances at January 1, 1956 Additions: Proceeds 'from bond sales transferred Deductions: Construction cost transferred during 1956 Construction cash transferred Balance of advances at December 31, 1956 Less construction.in progress - current at December 31, 1956 Cash available for construction Less construction in progress - deferred at December 31, 1956 Overage or deficit* in funds transferred to Construction Fund Proceeds from bond sales retained by the Improvement Funds Unencumbered balance at December 31, 1956 * Indicates red figure. Total 1950 19 Improvement Funds Improve Firs— econd First Series Series Series $ 496,342.30 $. -o- .$1,336°36 $--o- 1,1109000-00 91,606,342.7-0 F -o- 1,336 1- $ 7969608057 9,300000 $ 300000 $ 8059908.57 $ -o- 8 300000 .,$ -o- $ 800,433°73 $. -o- $1,036036 .$ -o- 5829602004 $ 217,831069 $ -o $1,036036 $ -o- _ 133,631019 $ 849200050 $ -o- $11036036 $ -o- 253,557.03(A) 2,530041 767-85 $ 337,757053 $29530041 $1,036036 $767085 Note A - Proceeds from sale of bonds retained by the Improvement Funds are invested in government and village securities, and are included with investments on the balance sheet. $ -0- 8,055 99 $10,18164 $2,070.14 -o- $13,201.31 $191,682.02 $ 269,814.84 1 110 000000 -o 7 4 55799 $101181 4 al -o- - 1 9201. 1 191, .02 $ 193016 $ ?,673.88 $ 61515-39 $1187118-11 $ 6699108003 4,000000 _ 2,000000 3,000000 $ 193016 $ —o— $ 6j673-88 $ —o— $- —o $ 89515.39 $121,118011 $ 669,108003 $ 193 -.16 *$ 8,055.99 $ 3,507.76 $2,070014 $ -0— .$ 41685.92 $ 707563091 $ 710,706.81 177.92 607.96 ,.. 149889.37 5669926.79 $ 193.16* $ 79878.07 $ 39507.76 $29070.14 $ —o— $ 41077.96 $ 5516 ?4054 $ 143,780.02 494.99 4,377.12 128, -08 $ 193016* $ 7078007 195 1953 $ 31582097 51 Improvement Improvement 1954 Improvement ment Funds. Fund Fund Sanitary Southdale Im rovement,Funds Bond Second FTr— First Sewer Improvement First Second Redemption Series _ Series _ Series _No,, 53 Fund Series Series_ Fund $ -0- 8,055 99 $10,18164 $2,070.14 -o- $13,201.31 $191,682.02 $ 269,814.84 1 110 000000 -o 7 4 55799 $101181 4 al -o- - 1 9201. 1 191, .02 $ 193016 $ ?,673.88 $ 61515-39 $1187118-11 $ 6699108003 4,000000 _ 2,000000 3,000000 $ 193016 $ —o— $ 6j673-88 $ —o— $- —o $ 89515.39 $121,118011 $ 669,108003 $ 193 -.16 *$ 8,055.99 $ 3,507.76 $2,070014 $ -0— .$ 41685.92 $ 707563091 $ 710,706.81 177.92 607.96 ,.. 149889.37 5669926.79 $ 193.16* $ 79878.07 $ 39507.76 $29070.14 $ —o— $ 41077.96 $ 5516 ?4054 $ 143,780.02 494.99 4,377.12 128, -08 $ 193016* $ 7078007 $ 37507.76 $2,070014.$ -o- $ 31582097 $ 512297042 $ -159020.94 8,637 °67 255000.00 20,472002 101481.28 __2 9,277-00 _ 91011.37 147,079.38 $8144451 $32987807 $23,97983 $2,070-14.$10'9481.28 $33,159.97 $ 60,308.79 $ 162,.7._00.32 -12- IMPROVEMENT FUNDS (Cont'd) Unallocated construction costs in the amount of $70,9 3.1 represent construction costs in excess of the amount assessed $40,%- 72 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. An amourr't of $23 726.30 represents assessments for which certification has been deferred; 414,329°10 until connection with water trunk; and the balance of $9,397.20 deferred pending outcome of cros. -town highway project. The balance of unallocated construction costs $6,263.13 represents actual unallocated costs and will probably be.paid by the General Fund. Connection charges of $157 061.63 (heretofore unapplied) for sewers and water mains connecting into existing or proposed trunk or lateral sewers and water mains have, by action of the Council, been trans- ferred as follows: Liability to Minneapolis -St. Paul - Sanitary Sewage District .$ 161209.80 Sanitary Sewer #53 (Edina - Richfield connection) 1309654.40 1952 Improvement,First Series (Concord .Water Tower connection) 29788.22 1950 Improvement, Second Series (Reserve for assessment adjustments Water main No. 24) 7,409.21 TOTAL $1577061.63 The reserve for assessment adjustments represents the excess of assessments over costs actually incurred, less charges where the actual cost exceeded the assessments. In certain instances improvement bonds were issued to cover projects where the cost was determinable but on which work had not been done. In these cases provision has been made for such costs and pending final disposition thereof has been'included in the reserve.for assessment adjustments.. In the event this is not used the.balance may be used for refunds or cancellation of assessment. This accounts.for.the large amount thereof in the Improvement Bond R•ede;nption Fund, 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. -13- WATERWORKS FUND The operations of the fund are shown in detail in a separate schedule and are summarized as follows: $ 1,770 Distribution 61618 Tanks and towers 49648 Water treatment 295 Per Cent to Administrative 135 Increase Gross Income 1956 1955 Decrease* 1 Gross income $133,288°47 $1359397-51 $ 29109004* 10000% 10000% Expenses: Pumping $ 279483.80.$.24,036050.8 39447030 20.6% 17.8% Distribution 44,076 24 349627081 99x+8.43 33.1 25.5 Tanks and towers 9,316096 4,215071 59101°25 700 301 Water treatment 2,31809 11269066 1,049 29 1.7 .9 Vehicle operation 7495 -o- 749°54 06 -:- Administrative and general 182728067 10,856037 7,872°30 1400 800 T OTAL OPERATING. EXPENSES $102 674016 $ 75,006005 $279668.11 7700% 5504% OPERATING INCOME $ 30,61 a31 $.60,391T $29t777-15* 23.0 e6 Other income 2,658062 1,182.58 .1,476 04 200 $ 33,272°93 $ 61,574004 $281301.11* 25.0 %. 45.5% Other deductions 9,727010 10,058042 331032* 703 7 °4 NET INCOME $ 23,545°83 $ 51,515062 $271969 79* 17.7% 38.1% Details of operations are shown on pages 59 and 60. The principal reasons for the decrease in net income may be summarized as follows: Decrease in income: Water sales $ 11094 Hydrant use from.General Fund (reduced 'by 1/10 mill) 2 1 Less increase in other items of income Increase in expenses: NET DECREASE IN REVENUE Depreci- Other Costs $ 1,677 21830 453 7�4 79 853 3,683 29182 1.020 .$149201 $.1,476 331 INCOME $ 1,144 2,109 27,667 929777-6 _ 1,.807 $27,969 -14- -ation Pumping $ 1,770 Distribution 61618 Tanks and towers 49648 Water treatment 295 Vehicle operation Administrative 135 Water survey Salaries and wages Administrative charges $13946-6 Less: Increase in income from investments' Decrease in miscellaneous deductions DECREASE IN NET Other Costs $ 1,677 21830 453 7�4 79 853 3,683 29182 1.020 .$149201 $.1,476 331 INCOME $ 1,144 2,109 27,667 929777-6 _ 1,.807 $27,969 -14- 4 GARBAGE FUND The following schedule compares the operations of the fund for the years 1956 and 1955: The operations for -the year, shown in a separate schedule, are summarized as follows: Per Cent ... Increase 1o' Income 1956 1955 Decrease* -19' 6 1955 Operating income $10,953.85 $24,466.85 $137513000* 100°0% 100.0% Expenses: $209358.42 $171634043 100°0% 100.0% ,Expenses: Collection service $10 ,259020 - $22983. 75_$129577.55* 93.6% 93.3% Administrative $20,713.13 $10,580072 82.4% 101.8% Vehicle operation ,and general 1,419.22 l 8 0.68 431046* 13.0 7.6 $11,678-.1;2- 249687.43 $13,009001* 106.60 100.90 OPERATING LOSS _$ 721+67 $ 220.58 $ 503-99 6.6 %* . o* Other income 140002 44.63 95039 to .2 NET LOSS $ 584.55 $ 175.95 $ 408.60 5 ,,3 %* .7%* Garbage collection by the Village was discontinued July 1, 19570 We recommend Council action to close out, the Garbage Fund into the General Fund. SEWER RENTAL FUND The operations for -the year, shown in a separate schedule, are summarized as follows: Per Cent to Billings 1956 1955 -- Increase. l95 1 Billings $37,992.85 $209358.42 $171634043 100°0% 100.0% ,Expenses: Operating $311293.85 $20,713.13 $10,580072 82.4% 101.8% Vehicle operation 498.26 -o- %+98.26 1.3 -o- Administrative aril general 29921.50 19832.43 19089-07 7.7 9.0 Unallocated _ 00.00 -o- 500.00 to -0- .$359213.61 $229545.56 $12,668005 92.7% 11008% OPERATING INCOME-LOSS* $ 21779024 $ 29187014 *8 49966-38 700 1008 %* Other income 342.49 322008 20.41 � 9 1.6 NET INCOME -LOSS* .$ 39121°73 $ 19865006 *$ 41986079 &.2% 9.2 %* The improvement in operations over the preceding year is princi- pally on account of an increase in service charges beginning July lst, at which time rates were doubled to compensate for increased charges from the Metropolitan Sanitary Disiri.ct. -15- LIQUOR DISPENSARY FUND .The detailed statements of income and expense for the calendar year 1956 and 1955 are shown in separate schedules and are summarized as follows: Sales Cost of goods sold GROSS PROFIT Operating expenses OPERATING INCOME Other income NET INCOME 1956 1955 Increase $612,; 92'8 0 2 8 46 12 074 $1477804-54 45,8a2.33 $1017972.21 1,.594-73 $51969923 19,941-19 61-3-1-1-75 8-04 a2,225-17 ,$,997462.87 $61,229005 45,182.55. $161046050 13,537-16 $ 21509-34 813010 781063 $103,566094 $100927597 $.3929097 ----- - - - - -- ----- - - - - -- ---- - - - - -- ----------- ----- - - - - -- ---- - - - - -- The .foregoing summary includes the operations of Southdale store from the date it opened, October 1, 1956. statements are included in the report. for 50th Street and The combined statement above is analyzed as follows: Increase in gross.-profit from: Increase in sales volume Increase in gross profit percentage Loss increase in operating expenses: Salaries and wages Provision for depreciation Repairs and maintenance Insurance Utilities Supplies Laundry Professional Burglar alarm Rent Taxes and licenses Advertising Miscellaneous Other income: Cash over. Income from investments Miscellaneous sales INCREASE - DECREASE* IN NET INCOME * Indicates red figure 50th Street $ 21419.59 1 423.70 $ 3,8 3029 $ 3,135.81 257068 11474-81 55.71* 115020 229063 -6.80* 185.00 - 42000 -o- 11000 -o- 1606 5,405.2.9 1, 5M —.M* 44038* 736.66 6_7 .20 0 $ 794-72* the new Separate for Southdale. Southdale Combined $.12,203021 $149622°80 -o- $ 121203021 $ 5,21410 459042 1065 3535 198098 773 53 22 034 _o_ -0- 1,154052 39.50 156098 O � , 8 49071-34 14035 -o- 14 3�, $ 4,085.69 _ 19423.70 $16,046050 $ 89349.91 717010 1,476046 20046* 314018 17003.26 15054 185-00 42.00 1,154052 50-50 156°98 201 1 0l 2,50903+ 30003* 736.66 � 7710 e 03. $ 39290097 -16- LIQUOR DISPENSARY FUND (Cont'd) Cash balances decreased $31,27044 for the year and may be accounted as follows: Cash funds applied: Transferred to General Fund Decrease in accounts payable Decrease in accrued pay roll Increase in prepaid expenses Increase in accounts receivable Increase in working funds Fixed assets purchase, less carrying amount of disposals Increase in inventory Cash funds provided: Net income Provision for depreciation Sale of investments Increase in due'to other funds $1039566.94 3,247019 49,979018 3310 NET DECREASE IN CASH 156,826041 $ 31,270044 Gross profit percentages for the past three years--are-as-follows and are taken from _the ;operations. of the 50th Street Store only: Liquor 23097% .$1211831-57 2,763°28 30.46 109.70 18070 390008 24071 .5,132084 24011 500000 25,43431 31,935007 $1881096085 $1039566.94 3,247019 49,979018 3310 NET DECREASE IN CASH 156,826041 $ 31,270044 Gross profit percentages for the past three years--are-as-follows and are taken from _the ;operations. of the 50th Street Store only: Liquor 23097% Wine 30.46 Beer 18070 Mix and miscellaneous 24071 Total 24011 1955. 23.65% 3175 20021 22029 23088 1954. 22.96% 32042 19045 30.9 23. 2 -17- FUND BALANCE SHEETS VILLAGE OF EDINA December 319 1956 4 General. Poor ASSETS Cash: Current funds $ 29,59500 $ 2,437.92 Appropriated funds 325.00 299920.00 S 2V437-92 Investments: U. S. Government securities ® at face amount or cost and accrued interest 10,000.00 Amounts segregated and shown below Receivable: Taxes and special assessments; Current Delinquent 69167.19 192.69 Deferred Customers Due from other governmental agency 25.00 Due from other funds 1639901.65 Other receivables 142.10 6 1709210.9 217-69 Less allowance.for delinquent taxes 6 167 192.69 Fi 7 , 3 . 25.00 Inventories Segregated securities for reserve for debt retirement and construction commitments Construction in progress A Fixed assets 8969888.23 Prepaid expenses and deferred charges $190909851.98 $121462.92 4 F u n d s Liquor Park. Improvement Waterworks Garbage_ Sewer Rental Dispensary $ 2,885.14 218857-17 $ 1,136.81 1,1 6.81 —0— 138,800.70 $141,685.84 $ 72,296.00 5 729296.00 1,025, 500.00 $ 764,388.30 70,498.38 396427009.39 2479070.98 $417 3y2 °� 3ti+5�, 77j . 36 191049080.37 $69637,641..73 $ 49627.33* 15.563-13' ,. 3 125,184.14 65, 173.35* $ 289047.99 4,690.91 202.42 329941b32 S .329941 2 5,902•$4' 65,173.35 2,014,184.66 33.3.69 $291897482.45 $29785.31 529785-31 11520.19 $ 154.25 208.71 200.90 $4,869.36 $16,984.83 $16998q.63 10,134.86 $ 13.63 5,883.46 59897-09 ,5, 97.09 79055-52 LO. 00 $4o,422.30 $ 289908.11 269908.111 112-84 5:.132.b4 ,1 20 1121626-17 739017.22 1a098.Z3 $2209843.07 �n FUND BALANCE SHEETS (Cont °d)� General Poor LIABILITIES RESERVES AND SURPLUS Due'to funds other 249898037 Accounts payable 459056.94 $ 36.09 Salaries and wages 100.27 Canceled assessments refundable Due to Hennepin County Interest payable Utility charges ® advance collections Water main and sewer connection* deposits -Construction contracts Minneapolis-Saint Paul Sanitary Sewer District Bonds payable Unexpended contributions Sundry deposits 49231095 Reserve for assessment adjustments Reserve for construction Surplus o Invested in fixed assets 8269716°13 Revaluation Contributed ® invested in fixed assets. 709172.10 Contributed by special assessments Appropriated: For imprest cash fund 325.00 For payment of bonds and interest For encumbrances- 859500000 Unappropriated 330851022 129426.83 $190909851.98 $129462.92 * Indicates deduction. -19- F u n d s Park Improvement Waterworks Garbage Sewer Rental Liquor Dispensary $ 3809567.67 10,066.40 $ 131°10 $ 99706.10 169864037 29887°54 $149076070 129313°56 524°79 47.61 90019 19183.65 4 3 1,35001 0,403.8o 1.65 489441.75 39050.85 4,430060 16,457038 304,935°88 ' 20,035000 5, 472 , 000.00 3579000-00 1,126071 212,724.09 22,910.78 1119910.71 200.90 79055.52 739017.22 46 34 169380.66.. 26,889.99 195599973.88' 47,491.88, 8,472.46* 127,966.00 159,114029 4,666081 14,769.29 1342197.54 $141,685084 ----- - - - - -- $696379641.73 ------- - - - - -- $2,189,482- = - .45 ------- - -- $41869036 --- - - - - -- $4o,422.30 ---- - - - - -- $2209843.07 ----- - - - - -- -19- i GENERAL FUND BALANCE SHEET VILLAGE OF EDINA December 319 1956 ASSETS Cash. Demand deposits Working.funds Receivable. Due from other fundso Construction 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 Accounts payable: Trade accounts Edina Firemen's Relief Association Advance on March 1957 tax settlement Accrued pay roll Sundry. deposits Appropriated surplus.s Invested in fixed assets Contributed o invested in . fixed assets For encumbrances For imprest cash Surplus - unappropriated $ 39704015 108066.40 131010 $8269716.13 $ 299595.00 325000 $. .29y920.00 139901-65 142010 149043075 1509000000 $ 69167019. 6016Z-12 �om 8960888023 $19o9o9851098 ------------- $ 209207046 4.69091 $ $ 129311076 89626071. 249118047 100027 49231x95 703172010 $8969888.23 859500°00 _ 325000 249898037 499389016 9829713 .,23 .—.---33 9851.2 _- 33,851022 $190909851098 -20- GENERAL FUND STATEMENT OF SURPLUS VILLAGE OF EDINA Year ended December 31, 1956 APPROPRIA'T'ED Invested in For Imprest For Total Fixed Assets Contributed Cash Encumbrances Balance at January 1, 1956 339003° 2 , 71, 0 ° 325-65' X112,29 09 Additions: Civil defense equipment donated by State 8 664 °05 and Federal Government 81664 °05 9 Transfers.for unappropriated surplus: For additions to fixed assets 1679841 °62 167,841 °62 .For encumbrances 269795 °96* 26,795 °96* Balance at December 31, 1956 '$9829713 °23 $8269716 °13 $ 709172 °10 $ 325000 $ 859500.00 UNAPPROPRIATED Balance at January 1, 1956 $ 549632.69 Recelpts Disbursements Cash transaction during the year $90,79306-39 797, 9 Eliminations: Transfer from Liquor Fund for purchase of land for parks $ 559830 °00 S,, 559830000 Transfer of Special Assessment Fund surplus to Construction Fund 16,41o.4 16,4-10-78 ° $8359065 °61 $8389477-5 Less non- revenue items: Collections and payments'on amounts accrued at December 31, 19558 Construction Fund $1339052 °06 $ 29,072 °32 Park Fund 169001 °57 Special Assessment Funds 634 °00 Permanent Improvement Revolving Fund 75 °00 Waterworks Fund 738 °00 69850 °00 Liquor Dispensary Fund 8000 V.06 S M49 ?9 17923-89 Advance to Construction Fund $ 759000 °00 Collections and payments of performance deposits and amounts due Uthers: Performance deposits $ 169931 °50 189875 °00 Edina Firemen's Relief Association 89626-71 49412021 Waterworks Fund for hydrant rental 49690 °91 Advance on 1957 March tax settlement 24.118 °4 9b.287.21 1 9° 1 0 2 ° $6461100 °96 646;io0 °96 Excess of disbursements over receipts 429162 0 (Total carried forward) 5 -12, 7 9 -21- 1 GENERAL FUND STATEMENT OF SURPLUS (font ad) UNAPPROPRIATED (font °d) (total brought forward) Additions: Accruals for engineering, fixed assets and other costs charged to other funds: Waterworks Funds Liquor Dispensary Fund Income on investments due from Construction Fund Write off of amount due to State and County Decrease in accounts pdyable: Balance at January 1. 1956 Balance at December.�l, 1956. Transfers: .,From reserve for encumbrances Investments from S-pe,ci-al Assessment Funds .for Construction Fund Deductions: Decrease in accounts receivable: Balance at January 1,1956 Balance at December 31, 1956 Village share of construction: Ci:r► radius Widening of highways Other Increase in accrued pay roll Transfer of investments.to Construction Fund * Indicates deduction. $ 121467019 $ 109066040 131.10 $ 101197050 3,704015 290050 $ 139568.29 123311-76 1,256053 26,795.96 429244064 6,500-00 617211.83 $ 694.98 142010 552088 3,905051 12,985.02 3,316.93 201207046 100027 61500000 279360061 Balance at December 31, 1956 $ 33,851022 �22- GENERAL FUND RECEIPTS VILLAGE OF EDINA Tax settlements: Real and personal taxes: General Firemen °s Relief Association Forfeited tax sale apportionment Interest and penalties Mortgage registry Gross earning tax and bank excise Hydrant use tax Licenses and permits: Plumbing; Licenses Permits Building Sewer Cesspool Bicycle Beer Years ended December 1 Increase 1956 - 19_ Decrease* $3599204.26 49297046 19883081 89813 021 4 694 001 63799864-.-6-q $2989076009 19658°73 1943357 89603 025 232.63 6.801.2 ;19688. 1 $ 619128017 39219049 361016* 450024 209096 159.79 29110.36* 629696013 $ 29762000 $ 19411°00 $ 19351000 59920050 49231000 19669.50 189818.15 179288025 19529090 39368000 . 1983900 19529000 641000 687050 46050* 459050 19369000 909050* 925000 .525000 400000 Bowling alleys 160000 160000 -0- Cigarette 43500 358000 77000 Food 636000 216000 420°00 Liquor 200000 200000 -om y.. Pinball 300000 200000 100.00 Taxicab Theatre Sign Dog Gas pumps Miscellaneous Municipal Court: Fines and forfeits Rentals: Land and buildings Equipment Revenue from State of Minnesota: Insurance premiums tax Liquor tax apportionment Cigarette tax apportionment 160000 100000 31+7-50 19605.00 269000 a : -e I 299829.55 $ 200.00 14 8200 4 159020. $ 49o44025 109815084 9.549.12 249409.21 80000 7500 29,,512.43 19605000 139025 339275 259298-75 $ 280000 19066 , 68 6 19346.68 $ 39049°24 109133.76 22919036 3 2036 80000 2 000 29164. 93* 294075 300000 129 a 1+9604.9 49530080 $ 80. 00* 13.753.86 139673° $ 995.01 682.08 382. 6 2906 085 -23- 4W GENERAL FUND RECEIPTS (Cont °d) Departmental fees and service charges.* Election filing fees Engineering and clerical services: Construction Fund .Waterworks Fund Garbage Fund Sewer Rental Fund Liquor Dispensary Fund Street repairs after construction Street opening fees Police service - Village of Morningside Publication, supplies and overhead charged to other funds Collections on accounts receivable accrued at December 31, 1955: Liquor Fund Construction Fund Waterworks Fund Special Assessment Funds Permanent Improvement Revolving Other Interfund.* Transfer from Liquor Fund Collection on November, 1955 tax settlement due to other funds Special Assessment Funds surplus for Construction Fund Other: Advance on March,--1957 tax set.tlemeht= Room and board of prisoners Special assessment searches Performance deposits Impounding fees Proceeds sale of property Insurance settlement Reimbursed expenditures Sundry TOTAL Years ended December 31. Increase 1956 1955 Decrease* $ 20.00 $ -o- $ 20000 869475077 -0- 869475.77 19560.00 39235014 19675°14* 345000 19562057 19217.57* 690.00 1962.57 872.57* 19560.00 19440000 120.00 29814.o5 29078.10 735-95 591.00 mom 591.00 59000.00 19250.00 39750000 2.921+.-32 10199 00l 0- 1191$ 21224 2 ` 909 1.7 $1339052 06 738000 634.00 Fund 75000 0 613591+56 $1219831-157 ME 16 410 0 8 13892 235 2-49118 47 0 163:10 388.50 169 31050 90000 1, 2-98 . oo 185.00 -o- 848.1 S 440 22a $9079306039 $ 49270000 699031 15010. -0- 356.38 9340079 $ 319291.00 2019327030 $ 49172.00* 1329352.75 722.90 634000 7500 503-13 $1309115-76 $ 909540057 2019327°30* -o- 16,41o.78 - . 623296117-3-0 9L+9375-95* -0- 342.00 3963000 310-00 260.00 19320°87 960073 276.36 10 0 6 $6559624.41 $ 249118047 163-10 46050 139296.50- BO.00 19038.00 19135-87* 960,73* l0 1 E379317-78 $2519681.98 -24- GENERAL FUND DISBURSEMENTS VILLAGE OF EDINA General government: Mayor and trustees: Salaries: Mayor Trustees 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 Other Elections: Salaries - judges and clerks Supplies Rent Other Assessor: Salaries: Assessor Deputy assessors Supplies and other expenses Mileage Attorney: Salary Orherand expenses Executive: Salaries: Village manager Assistant manager Subscriptions Supplies Travel School and conventions Other Years Ended Decembers Increase 1 195D Decrease* $ 19390000 49800000 414.00 247010 -o- -o- , 1010 11840.44 1,472030 2,454.00 1,349064 -0- 281.37 1,692.00 388.19 161.00 4 9,640.94 $ 59114.79 331.02 102.50 225.17 ,773. $ 6,090.00 3,946030 594.94 -o- S-IU-7-63-1 .2 $ 198410.4�4 S91Olo 2 $ 149357.94 1,687.08 186.65 544.06 536.24 -0- 17,311097 $ 1,440000 4,800.00 809.07 66.89 299.33 111.99 71527.28 $ 1984o.44 1,472.40 1,963.20 1,349.64 584.00 245.80 1,321.50 267.02 U-7, 400 3 $ 19422.85 290.19 -0- 17.50 1,730. $ 5,000.00 3,325-76 307.00 294.00 9926.7 $ 11840.44 +'7± 7, 9sN � 2981700 $ 12,116.28 3,176.92 207050 40.08 107.16 353-50 663.41 16,664.-&5 50.00* -o- 395.07* 180.21 299°33* 111.99* $ -o- .10* 4900 80 -o- 584.00* 35.57 370.50 121.17 X552.6 . $ 39691.94 40.83 102.50 207.87 ,043.1 $ 1,090000 620..54 287.94 294.00* $ 26 -. l 2.2� 28 37 $ 2,241.66 1,489.84* 20.85* 4o.08* 436.90 182.74 661041* $ 647.12 -25- General government Clerk- treasurer:, Salaries Other clerical Supplies Postage Maintenance and equipment Publications Telephone Other (cont °d): salaries rental of Village hall: Salaries and wages Supplies Towel services Light and power Water and sewer Telephone Fuel Maintenance of buildings and grounds Other . Library: Salaries and wages Heat light and water Maintenance of buildings and grounds Supplies Other Planning commission: Consultant fees Other Dues TOTAL GENERAL Public safety: Police protection: Salaries Gasoline and oil Repair and maintenance equipment Supplies Police radio service Drunkometer tests School and conventions Telephone Other GENERAL FUND DISBURSEMENTS (Cont °d ) GOVERNMENT of Years Ended.December 31, 1956 1 $ 59508 °00 269190 °14 29461 °89 390.17 19175 °17 .2,055.65 807-55 329 °02 38,9176 39402 °40 697 °78 227 °35 19892 °36 90 °86 -0- 19201°58 212 °90 100 ° 84 9 79 8? 67. 07 638 °82 429 °39 167°95 16 °72 _0_' 19252 $ 5,494 °09 8 7 '/487 209 °00 $107,264-FT $ 737639 °86 29628 °32 29289 °65 1,046 °00 19050 °00 230 °4o 276 °78 48o,° oo 819978.776 $ 5,825 °81 269267 °75 29157 °87 236.05 456.65 19320 °88 -0- 128°30 369433.-31 $ 59630 °42 841 °71 186 °30 1'142 °48 2,146 °54 1,335 °97 223 °99 12929 $ 19187 °86 . 384 °0l 469 °02 267-55 °00 2,313° $ 1,325 °67 ° 209 °00 X73-3-2-7.27 $ 589581 °32 -o- 105.38 1, 211 ° 4 5 1,050.00 787 °00 145-99 19 8 81. 14 Increase Decrease* 317.81* 77 °61* 3o4.02 154.12 678 °52 734.77 807 °55 200-72 $$ 27228 °02* 143.93* 41.o5 99 °99 51 °62* 29146054* 134 °39* 11.09* 100-84 T-79773.71* X49 °04* 45 °58 301 °07* 250 °83* °00* 19060.564.. $ 49168 °82 254-15 9 ° -o- 7, 32° 0 $ 159058 °54 29628 °32 29184 °27 165045* -0- 556°60* 276 °78 480 °00 191-76 2090 7° -26- GENERAL FUND DISBURSEMENTS (Cont ° d) Public safA$.(contud): Fire protection: Salaries Supplies Insurance Power for siren Telephone Fire school and conventions Maintenance of equipment Uniforms Other Inspection services: Building inspector Plumbing inspector Supplies and other expenses TOTAL PUBLIC SAFETY Highways: Engineering: .Salaries Outside services Supplies Equipment rental and ma Aerial survey Telephone Travel and mileage Other Street lights and traffic Street commissioner - sal Labor Materials and supplies Gasoline and oil Repair and maintenance of Outside equipment rental Street signs Sanding and snow removal: Labor Materials and supplies Gasoline and oil Repairs and maintenance Miscellaneous intenance signals ary equipment and labor of equipment TOTAL HIGHWAYS Sanitation and waste removal: Weed eradication: Labor Supplies. Other Rubbish disposal MaMenance of storm a aries Outside equipment Supplies Other TOTAL SANITATION AND sewers: rental and labor WASTE REMOVAL Years Ended December 31,, Increase 1 Decrease* $ 43,042042 1,560.68 54849 10000 600.00 444053 29730044 236056 247-05 20017 $ 6,152012 69708- 92 12�_ :$145,111 $ 621230024 2,354093 11 4, J25. 00.00 600°00 1,560035 305-94 19,975-54 5,968°36 48,608°95 17,761°31 4,419035 514741-33 11607-71 2,176°58 6,102088 19838.29 471034 612023 28 79 31529652-36 $ 598.99 465042 481078 -o- 4,223047 11679-63 887060 172. $ 349390032 3,263032 164050 12.00 385.81 260005 1, 869.79 290012 441.64 T 9079 $ 4,581095 41752-63 155-57 Ool T1129450-d4 $ 559480073 2,191040 2,420046 5.90 -o- -o- 1,068064 236093 15,504.97 5,691088 32,001°73 15,197005 -0- 1, 608.67 691067 9,035-01 941040 -o- ®90010 2, $ 585.35 222-83 254025 136.8 1,851°88 -o- -o- 6 3,051-15 $ 8,652010 1,702064* 383099 2. 00* 214019 184048 .860065 53-56* 196059* 6 8,340-92 $ 19570017 1'696° 9 1 4,222.61 329660-65 $ 6,749051 2'.65.53* 319021 4,800°00 600°00 491-71 69001 49470-57 276048 16,607°22 2,564026 4,419035 5'474036* 1,484091 2,932013* 896°89 471-34 612023 438.69 09485-82 $ 13064 242.59 227 a 53 136084* 29371.59 1,67963 887°60 1 209 7 -27- 1 Equipment Repairs Village Gas and Insuranc Tires an Fuel Supplies Power and Tel_e.phone Towel ser Other maintenance: and replacements labor oil e - d tubes light vice TOT Unallocated Workmen's Audit AL EQUIPMENT expenses: compensation Settlement of laws-aits Other insurance Other 6 GENERAL FUND DISBURSEMENTS (font °d) MAINTENANCE insurance TOTAL UNALLOCATED EXPENSES Tree trimming: Labor Other TOTAL TREE TRIMMING Capital outlay: Land Land improvements Buildings Furniture and fixtures Highway department Police department Fire department Executive equipment Engineering department Traffic signals Library Miscellaneous equipment Construction in progress Reimbursab; Services Supplies Sundry "'TOTAL TOTAL CAPITAL OUTLAY Le expenditures: for customers for liquor store "REIMBURSABLE EXPENDITURES Years Ended December 1. Increase 1956 1955 Decrease* $ 3,115.11 11,392.99 -0- 563-36 -0- 1,127.65 441.27 31556 300.00 166059 27-07 17,449.6-o $ 5,415.20 29590.00 3,211.00 19212.49 6000 12,824-69 $ -o- -o- $ 49,o5o.00 759.50 5,084 69 31795.80 17,032.12 19966.85 1,981.44 300-00 29372.00 36,515025 175000 7,694.12 1 487.86 21 -3 $ 258071 -0- 122.60 T----371-.31 $ 7,052063 9,321-53 8,114091 39947-58 2,058071 1,145.82 1,141.98 215.64 228055 110.12 14Z. 74 33,485.21 $ 3,34o.03 3,945.00 450000 -0- 141.25 7,878.2 $ 4,027016 244511 49271.67 8,883°31 825.58 29135.28 18,320.15 4,657076 3,060.21 1,257.85 2,966.00 59293-33 998050 -o- 9,177.7 $ 19407.57 98.00 1 9.24 $ 11664.81 $ 3,937.52* 2,071.46 8,114.91* 3,384°22* 2,058.71* 18017* 700071* 99 ..92 7145 56.47 120.6 * 1670357.1* $ 29075.17 1,355.00* 2,761.00 1,212.49 252.75 ,946.41 $ 49027.16* 244. 51 * T--T-9 2-71-.-6-7* $ 49,022.50 8,123081* 49259.11 19660.52 1,288.03* 2,690.91* 1,078.77* 1,452.88* 2,114.75 33,549.4- 5,118033* 6,695.62 31.4870-86 Z-1099036-89 $ 19148.86* 98.00* 36.64* 19283.50* 9W GENERAL FUND DISBURSEMENTS. (Cont0d) Prior year °s expenses and encumbrances: Due to other funds at year -end: Park Fund Waterworks Fund 1951 Second Series Improvement Fund Construction Fund Permanent Improvement Revolving Fund Encumbrances at year -end Edina Firemen's Relief Association TOTAL PRQOR YEAR'S EXPENSES AND ENCUMBRANCES Interfund: Advance to Construction Fund Special assessments on park property paid by General Fund Work done. by Construction Fund_ reimbursed Payment oh November, 1955 tax settlement due to other funds Special Assessment Funds surplus to Construction Fund Transfer to Park Fund for land acquisition and operations Salary of health officer Civilian defense Dog catcher Return of performance deposits Donation to Independent School District No. 17 Increase in Petty Cash Fund It TOTAL Years Ended December 31, Increase 1956 1955 Decrease* $ 16,001.57 $ 49270000 $ 119731.57 69850.00 59500.00 19350.00 -0- 291072-32 -0- 139475 03 4,412.21 390.63 129-85 250.41 8,631..45 4785014 390.63* 28,942.47 250.41* 4,843.58 372.93* $ 697811013 $ 23,957-48 $ 45,853.65 $ 757000000 $ 257000.00 $- 50,000.00 6973708 -o- -o- 16,410a 78 7 / . 44 7.0 0 175-?596-86 490.80 43.17 1,992.50 18,875000 1,500.00 -o- $910, 718.34 3,299.16 196098 37437-92 196.98* 2019327.30 201,327.30* -o- 169410.78 $229,823. 490.80 25.10 1,688.78 4,000.00 -0- 175.00 $713963913 77,449.00 54,226.58* -0- 18.07 303.72 14,875.00 1,500.00 175.00* $1979079.21 -29- GENERAL FUND FIXED ASSETS VILLAGE OF EDINA Equipment: Highway Police Fire Election Engineering Traffic signals Executive Miscellaneous Construction in progress: Library Widening of highways TOTAL 1509114 18 Year ended'December 319 1956 109402034 3903335 Balance 349930.96 29460°66 Balance 290350833 Jhnuary 529197080 1- 9868.54 December -19762050 191956 Additions Deductions Transfers 313 1956 Land $ 80,755.66 $ 499050'00 $19000.00 $1289805066 Land improvements 189023-03 759.50 189782.53 Buildings 3299415030 5,084.69 3349499.99 Furniture and fixtures 279198010 39995-80 256050 309937.40 Equipment: Highway Police Fire Election Engineering Traffic signals Executive Miscellaneous Construction in progress: Library Widening of highways TOTAL 1509114 18 179420087 19622057 109402034 3903335 19500096 349930.96 29460°66 426013 290350833 529197080 1- 9868.54 2,372000 -19762050 159682055 .' 369515.25 19752088 300-00 4.177.48 1 00801 356.85 $1389000.29 F 2. 3 79219069 ' 175.00 7939469 270806.02 4481+72.91 728 780 93 $720,382056 $1829648020 $69142.53 $: --,o- $8969888023 ----- - - - - -- ----- - - - - -- --- - - - - -- - - - - - -- ----- - - - - -- * Indicates red Figure. - -30- 1659912048 $207040* 119727-33 379391062 2903083 426013 11990 017 529197080 718073* 19834.15 6 -o- 21.185.65 W179214.61 7939469 270806.02 4481+72.91 728 780 93 $720,382056 $1829648020 $69142.53 $: --,o- $8969888023 ----- - - - - -- ----- - - - - -- --- - - - - -- - - - - - -- ----- - - - - -- * Indicates red Figure. - -30- POOR FUND BALANCE SHEET VILLAGE OF ED INA December 319 1956 ASSETS Cash Investments - United States Government securities at face value Receivables: Relief grant - State of Minnesota Delinquent taxes Less allowance for delinquent taxes Accounts payable Surplus - unappropriated LIABILITIES $ 291+37°92 .109000,00 $25000 $192069 19206 25,,,00 $129462,92 $ 36009 12.1+26 0 U $129462,92 -31- POOR FUND STATEMENT OF SURPLUS - UNAPPROPRIATED VILLAGE OF EDINA Year ended December 319 1956 Balance at January 19 1956 Additions - revenue receipts and accruals: Tax settlements collected Relief grants - State of Minnesota Income on investments $109286,53 $79759074 107095 1460 8 014+02 189300055 Deductions - disbursements and accruals: Suburban Hennepin County Relief Board: Relief orders $19960078 Administrektion 267.66 $2922.8044 ` Rural Hennepin County Nursing Committee 39605.28 Professional services �e.40o00 Balance at December -319 1956 STATEMENT OF INCOME AND EXPENSE Revenue receipts and accruals: Tax settlements collected Relief grants - State of Minnesota Income on investments Disbursements and accruals: Suburban Hennepin Relief Board: Relief orders Administration Rural Hennepin County Nursing Committee Professional services NET INCOME $12 �426 0 83 N Increase Z Decrease* $79759.74 $79528090 $ „230084- 107095 10.1.15 6080 146,- 12 .01 2 T8- 901 0027. - 371096 $19960.78' $29100039 $ 139061* 267066 352°12 84+ 46* 39605028 3960528_. -o- 40-00 8�y .7 _ -5,®0 $601 2 00* 2 59, 0* $29140030 $19509027 $ 631003 -32- POOR FUND ANALYSIS OF CHANGES IN CASH BALANCE VILLAGE OF ED INA Year ended December 319 1956 Balance at January 19 1956 Receipts: Tax settlements received: March, 1956 June, 1956 - November, 1956 Relief grants - State of Minnesota Sales of investments Collection on accounts receivable at December 31, 1955 Disbursements: Payments to surburban Hennepin County Relief Board: r $ 4,0370 55 $ 789096 49057 -.55 2.912.21 7,'759 0 7 82095 3,646033 2500 114002 l� 59551057 Relief orders $19934023 Administration I 2 X12 Alp 29192035 Rural Hennepin County Nursing Committee 3,605028 Purchase of investments 79000.00 Professional services 40.00 Accounts payable at December 31, 1955 276002 Balance at.Decem'ber 31, 1956 0 13 0 -13 L, $ 29437.92 -33- PARK FUND BALANCE SHEEN VILLAGE OF ED INA December 319 19% ASSET'S Cash Taxes receivable - delinquent $ 19136.81 Less allowance for delinquent taxes 1._1_36 81 Fixed assets LIABILI`rIES Payables: $ 2,885.14° -0- 1� 8.800,2 $119685.84 Accounts payable for expenses $ 19052.98 Salaries and wages 524.79 Accounts payable for land $. 69553.12 Contract for deed - land 29.100.00 89653.12 Unexpended contributions-for specific purposes: Normandale Park, 65th and Mildred $ 58.50 Landscaping buffer strip west of library 207.-53 Cascade pumping 801.73 Dwight Williams Memorial Park 58°95 1912CL.i1 $ 119357,60 Appropriated surplus: Invested in fixed assets $1119910,71 Contributed - invested in fixed assets 264 9,99 $138,800.70 Unappropriated' - deficit 8�if72o46 130, 28 °24 $141;685.84 * Indicated red figure. 34- P PARK FUND STATEMENT OF SURPLUS - UNAPPROPRIATED VILLAGE OF EDINA Year .ended December 319 1956 Balance at January 19 1956 Additions: (Receipts) Tax settlements received: March 1956 $ 39178.98 June 1956 169589.72 November 1956 119925.39 Swimming registrations Sale of craft supplies Miscellaneous: Sale of scrap $ 52.75 Settlement of claims - damage 147.72 Other 131.97 Transferred from General Fund Deductions: Operating expenses: Swimming $ 79125.11 `4 Baseball 1 7.08 Skating rinks 6941.24 Parks and recreation 239802.00 General and administrative 7,655.76 Accrued expenses at December 319 1956 Cost of craft supplies sold Capital outlay: Land $ 519 228.2 .Land improvements 169228.99 Equipment 19576.08 Construction'in progress 2 4.40 U29267.69 Accrued expenditures at . December 31, 1956 8.653.12 _ X;920. 1 Less amounts contributed or charged to other funds: General Fund $ 69737.08 Wooddale Parent - Teachers Association 350.00 Lions Club 200.00 Pearson Candy Company 200.00 Chesley F. Carlson 150.00 Normandale Community Service Council 120.00 Girl Scouts �30.00 ,� 797978 -7.0� * Indicates red figure. $ -o- $319694.09 39171.00 140.73 332.44 $ 359338.26 4'4+8.00 11297 .2 $469401.19 1146.01 9124.99 Z1,133 .73 Deficit at December 31, 1956 $1219258.72 $ 81472.46* -35- PARK FUND ANALYSIS OF CHANGES IN CASH BALANCE VILLAGE.-OF EDINA Year ended December 31, 1956 Balance at January 1, 1956 Additions: Tax_ settlements received from county: March_ 1956 $'37178.98 June 1956 16,589072 November 1956 11,92 .39 Swimming registrations Shady Oaks parking permits Sale of craft supplies Miscellaneous: Street dance $ 118070 House rental - Warren Avenue 30000 Sale of scrap 52-75 Settlement of claims — damage 191.06 Other 188030 Collections on accruals at December 31, 1955: General Fund $169001-57 '631.20 Other Transfer from General Fund Dedicated funds: Wooddale Parent- Teachers Association $ 350000 Chesley F. Carlson 150.00 Pearson Candy Company 200.00 Lions Club 200.00 Girl Scouts 30°00 Deductions: Swimming $ 79125011 Baseball 1 3 �08 Skating rinks 69��1.24 Parks and recreation 239802.00 General and administrative 7.655.76 .Capital outlay Payments of liabilities accrued at December 31 1955 Payment to Hopkins Recreation Commission Dedicated funds: Wooddale Parent - Teachers Association $ 350°00 Normandale Community Service Council 120.00 Girl Scouts 30.00 Pearson Candy Company 200.00 Chesley F. Carlson 150.00 * Indicates red figure. $31,694009 3,171000 864000 140°73 580.81 16,632.77 77,448.00 930.00 $46,401.19 659-075-01 5,812°34 864000 $ 91573.72* 131, 461°40 7 .6b 850.00 119.002.54 Balance at December 31, 1956 $ 2,885.14 -36- PARK FUND DISBURSEMENTS VILLAGE OF EDINA Swiming: Instructors Bath house attendents Bus rental Sundry Baseball: Coaches Umpires Bats Balls, etc. Bus drivers Sundry Skating rinks: Labor - rinks _Labor - buildings Salary of attendents Power and light Lumber Supplies Sundry Parks and recreation: Maintenance labor Instructors salary Water Equipment rental Flower planting Share of life guard salary at Shady Oaks Lake Maintenance' and supplies Mosquito control Recreation supplies Cascade maintenance and expense Sundry General and administrative: Recreation director Secretary Mileage and parking Interest on contract for deed Professional services TOTAL OPERATING EXPENSES (Carried forward) Years ended December 1 Increase 19 6 19L Decrease* $ 39058.85 49000.00 66 26 79125.1.1 $ 902.61 424.30 -0- 10 ,,17 19337008 $ 59733.1b 358.58 -0- 154.22 49.66 72.36 11 1�22 61481 24 $ 11,317.75 4,740.,99 50.00 15.00 78.44 -o® 27105076 251,01 43o.1.8 49216.43 Lt -4 22 02.00 $ 69895.06 -0-- 282.33 128.37 0 7.655. 6 6, 01.19 $ 29385.00 33050 39000.00 12 X48.15 $ 19237.32 10.00 490.60 15.89 16.00 6 197690.81 $ 6,56661 701.86 21197.68 - 119..52 71.18 365.89 109063.50. $ 49816.79 29950.00 - 39..50 500.00 478.17 15.28 926.22 83,...6 109109.82 $ 49454.31 300.00 164.85 203.23 345.00 6 3299 8. 67 $ 673.85 33050* 1y060.0�0 19576096 $ 334071* 10.00* 66-30* 15089* r- 3* �-3 2.7 73 * $ 833.51* 343.28* 2,197068* 34.70 21.52* 268.40* !+ 3958Q.26* $ 69.500.96 1,1 840, 99 - 0- 15.00 38.94 500 00* 19627.59 2:5.75 496.04* 49216.43 692 21.2.56 13;.18 $ 21440.7'5 300.00* 117.48 "!4.86* 5,09 2 188 13, -4+2 -37- PARK FUND DISBURSEMENTS (Cunt °d) Years ended December 31� 1956 1 _ TOTAL OPERATING EXPENSES (Brought Forward` 6,401.19 $32,958.67 Capital outlay: Land Land improvements Equipment Construction in progress Payments on liabilities accrued at December 319 19550 Accounts payable Salaries payable Contracts payable Dedicated Funds: (Donations) Hopkins Recreation Commission: Collection for Shady Oaks '+ parking permits Park at 65th'and Mildred: Amount expended for land Wooddale Parent - Teachers Association: Amount expended for recreation program Pearson Candy Company :, Amount expended for equipment Girl Scouts: Amount expended for equipment Chesley F, Carlson: Amount expended for equipment First Edina National Bank: Amount expended for landscaping library buffer strip TOTAL 519152.63 99491.90 19196.08 30234040 659075001 $ 39076.01 19136033 1.600.00 9 812 0�, $ -0- 107.82 29.00 _a 1 `7 $ 274--_3 5 19089.14 -o- 100 00 9189 1� Increase Decrease* $13t442.52 $ 519152.63 99384.08 1,167.08 96.87 90M. $ 19986.87. 19136.33 1 00 00* 19 23020 $ 864.00 $ 199.00 $ 665.00 120.00 130.00 10.00* 350-00 350.00 -0- 200.00 -a- 200.00 30000 -o- 30.00 150.00 -o- 150.00 -0- 604 604 97* 1.71 .00 �_� 0 0 $1199002.54 $41,706.13 $779296.41 PARK FUND FIXED ASSETS VILLAGE OF EDINA Year ended December 319 1956 -39- Balance Balance January December 1 1956 Additions 31. 1956 Land 279 81,00 599881.35 $ 879362035 Skating rinks 1.871°47 19871°47 Land improvements 179984,80 169228,98 ;349213078 Buildings ` 449043 X49.43 Park equipment 191+02003 1957608 29978011 Furniture and fixtures 263.22 263022 Trucks 59082,15 59082,15 Miscellaneous 72900 7Z.00 $51+9611.10 $77,686. 1 $1329297-51 Construction in progress: 52nd and Arden 131.26 131026 50th and Wooddale 29324085 .29324°85 East Mirror Lakes 78212 39003060 3.785,72 57th and Chowen 30.56 2230,80 Y 261 f TOTAL $579879.89 $809920081 $1389800,70 -39- I � 4,11 IMPROVEMENT COMBINED VILLAGE December Permanent Special Improvement. 1950 Improvement Construction Assessments 'Revolving First Series Second Series $ 257267.82 $ 89062.98 $ 834-73* $ 39251.09* $ 181.43 206;500.00 47500.00 23,000-00 40,000.00 619000.00 $ 29304.35 .$40,427-99 $127748.99 $ 199341-30 728.166 51157.17 81842-70 199-90 20.878.60 39,831-07 40 42035 5 -0- 3,033-01- '361-1422-76 T 6U1013-55 555.82 $ 3,033.01 $66,463-76 $61,978-58 T-607013-55 843-88 8,299.2 11,471.Z0 3,190-58 6 21189.1-7 8 5 81164. F1 350,506.88 5 22.97 441064-74 169455.39 i;o36.36 72 1211.34 3041935-88 6,263-13 $19315924'2.91 $31,207-50 $809329-78 ---------- $879255-79 $126,449.97 739.34 100000- 434.33 416.00 39932.44 213.41 3.80 142.20 442055 170.05 4,786-61 239857.2.8 29757.24 5046:14 304,93,5-88 16945,7.38 8009433-73 1509000.00 209-035-00 1+90001.-00 209000.00 65,000-00- 787000-00 209708-01 71146.68 229032-31 22,nu-y8 3,236.26 14,569.54 112474.22= 209485.47 $1,315;242.91 131.5-242.91 $319207-50 $80,329-78 $877255.79 ---------- $1269449.97 4,11 Total Elimination ASSETS Cash on deposit $ 72 296000 Investments - at face amount - Note A 1,0259500.00 Receivables: Special assessments: Current - Cerfified in 1956 - Collectible in 1957 $ 728,082082 — Delinquent 69,105.89 Deferred 6 . 6 - 8493609886.-27 5 -O- Taxes and assessments receivable - .-- Village share of projecfs: Current 369305.48 Delinquent 19392.49 Deferred 78,311-83 .07 -.- Less allowance for delinquent taxes TOTAL RECEIVABLES 288,201.69 $471889694-38 5 -.- Due from other funds 2479070098 Due from Construction Fund for advances -o- 8009433.73 Construction in progress: - Current 728,211.34 Deferred 304,935.88 Unallocated construction costs 70,933.15 $696379641.73 $8001433.73 LIABILITIES Accounts payable $ 169864.37 Accrued interest 489441.75 Canceled assessments refundable 49335.01 Due to Hennepin County 10,403.80 Due to other funds 2309567.67 Construction contracts payable 3049935°88 Watermain and sewer connection deposits 169457.38 Advance from Improvement Funds -o- $8009433.7.3 Loan from General Fund 1501000eflO Payable to City of Minneapolis for Village share of sewage disposal plant 209035.00 Bonds payable 5947�1000.00 Reserve for assessment adjustments 'x')`212 724.09 Reserve for construction 229910.78 Surplus: Unappropriated 1272966.00 $69637,641.73 ------- $800,433.73 * Indicates red figure. - - - - -- ----- - - - - -- Note A - Includes $96,000.00 of 3.40 %, 1956.Improvement Bonds, Second Series,.$48,000.00 due on March 1, 1962 and 1963, subject to prepayment one year prior to maturity FUNDS BALANCE SHEET OF ED INA 31, 1956 1951 Improvement First Series Second Series $ 52.18 $ 15, 544.-96 169000.00 102,500.00 $11,469.81 799720.47 $710.28 99373092 9 4 2 295,060i, 5519714. T734,154.96 549.66 2,2 64 . 77 5-37 ,1 3,260.51 28,11 . $49,003-97 T3769041.99 193°16* $659056.15 $4737893.79 $ 4I2.27 112.56 163.70 648.95 78,452.68 5510000.00 3701000,00 87766* 728.-93* 10,326.84 242649.78' $65,056.15 $4737893.79 ---- - - - - -- ----- - - - - -- 1952 Improvement First Series $ 2,979.01 27,000.00 $ 50,325.15 3,668.29 100,310-19 $154,303-63 11,200.00 424.46 24,349.41 $1901277-50 13.482.24 176,79526 2,788022 89055-99 $217,618.48 $ 1,925000 64.33 209.25 7,589.39 210,000.00 2,169.49* $2179618.48 1953 Improvement First Serdes $ 581.77 76,000.00 $ 55,642.67 29698.10 194.255.52 2 21596.27 2 2, 6.29 15,193-01 $2379403.28 3,507.76 $317,492.81 $ 2,561.67 306.10 28,241.04 265,000.00 7,413.37 13g97o.63 $317,492081 Sanitary Sewer Southdale 1954 Improvement No. 53 Improvement First Series Second Series. $ 177056.36 $ 235-30 $ 44.77 124.44 607000000 377000.00 76,000000 $ 519809.01 $ 297997.10 $ 23,566.95 $ 827613.96 87381.05 17370.54 19022086 57791-07 448.077-88 132,,007.39 90.829 * 70 358.687-9 $5087267-97 1 3,37 .03 11 741-9-71- 1 ++79092. 24,000.00 968.03 . 962042 $587-9198-39 $1637375-.03 1157 19. 1 $447,0,92-98 44,822-67 9,470-76 6 42069 27s,856-1Z $5429375-72 6153,904.27 $108, 676.82 $4197236.81 1309654.40 43,826.54 29070.14 4,685 92 709563-91 4o,943.72 $6929156.62 $2987909.83 $150,407.51 $565,925.16 $ 29895.00 $ 19080.00 $ 47828033 $ 37162.60 191.60. 249.45 734020 97647,089 197163.68 6709000.00 2959000.00 1359000.00 5159000.00 12.65 722.52 209458071 18,994.02 810.58 3,707065 5,74o.24 $6921156.62 $298,909.83 $150,407051 $5659925.16 Improvement Bond Redemption $ 6,250080 296,000.00 $ 268,115.07 2191610.35 1 803, 751061. 372-9O 3,02 ,03 $2,0939028.03 115°455.26 119779572-77 1,9872-48 - 7109706081 23.726.30 $39016,129016 $ 400a5o 339011.67 3997935 509731.72 2.,790- 7000.00 138,005.92 $390169129.16 -4o® Balance at January 1, 1956 Additions: Interest spread on assessments for collection in 1957 Interest collected by Village on pre- payment on special assessments Accrued interest on sale of bonds Income on investments Assessments over - collected Capitalized interest Deductions.: Interest on bonds Bank service charges Legal costs on bonds sales Advertising Sundry adjustments Transfers: Allowance for delinquent taxes Reserve for assessment adjustments Appropriated surplus for payments to City.of Minneapolis for Village share of sewage disposal plant General Fund NET TRANSFER DEDUCTION Balance. at December 31, 1956 *.Indicates deduction. Total $ 869203096 $203,671038 563026 3,322066 13,810045 293042 2V2 6_.785084 2 '1447-01 $1511452°81. 1,007038 7,507.65 30060 15.17* 1 e2 U1749667 . 70 $ 23,871°96 145057* 64.5 222910-72 Olo 0 $127,966000 Special Assessments $25,172007 $ 75-57 46002 407033 293°42 X522 - $ 128002* 23.89 10.38 * 2670bb.16 123.41* 64 5 22,910:79 22 l0 0 $ 3,236026 r Permanent Improvement Revolving $10,154.31 $ 2,914.81 13.84 161 °51 3,596.1-6 $ 100.00 27.20 02 §139117.27 $ 19306.70* 145.57* 1,_ 2.27* $14,569'.51+ IMPROVEMENT FUNDS STATEMENT OF'SURPLUS m UNAPPROPRIATED VILLAGE OF EDINA Year ended December 31, 1956 1952 1950 Improvement- 1951 Improvement, Improvement First Series Second Series First Series Second Series First Series $ 41920.57 $169237.43 0 79806.46 $119422.21 $ —o- $ 29503-36 2.65 977 °43 3,173-47 $ 19352-50 23-15 4.76 e , s $ 49451.39* S 4.45 1.39* $111474.99 $ 2,848.44 2.46 11529.27 4,360-1-7 $ 1,288.00 23.10 10.00 1,321.10 Sig-9-Z96. $ 19188.97* $207.485.47. 8 2,430.78 1.08 19.7.28 29629.117 $ 1,341 °33 20.30 0 !. 7 ° $ 19252.87* 1,2 2e 7* $10,326.84 $17,870.97 17 °97 3,369.66 $10,470.8 101.4 e 1 2 , o $ 21541.28* 2, let $24,649 °78 $7,160°75 4.56 926.98 9 2° $7,379 °17 196.66 57.575--t7l 0 $ 516 e.46. 516.4 —o- 1953 Improvement First er es $ 6,315004 $119897074 17.83 290.54 240°02 $129446-13 $ 8,004.00 104011 15-31* 2s 0 $10-1668—.3-7 $ 3,302.26* 3.302.26* $13,970063 Sanitary Sewer No 53 $ 3,809072 $23,804014 251.28 299.10 8241354. 2 $229985.83 120031 2 10 0 510-58-10 $139935092* 1 . E2:* $18,994.02 .Southdale Improvement $ -om $7,71398 199.03 755.21 681668.27 $8,780.00 50.58 185.16 69,5157-74- 347-52* $1,,158.lo* 1 810658 1 01 0 $ 1954 Improvement-, First Series Second Series $ 336031 -o- $59465.06 3.42 883.84. 1+21.00 W7775-32 $3,640000 59°90 93.699799-U 3,.11.073 $ 295.92* 25-5. 2* $3,707.65 $21905Z.53 1.57 ,171.15 102L22.46 5319-754-71 $14,580.83 94055 1,.187°16 25.00* 1 370 15-9917-17 $10,176093 10 1 0 $ 5971+0.24 Improvement Bond Redemption $ 29.84 $ 97,933.25 1.55 3,322°66 3,841.15 1 6 51209691-97 $71,658034 162-15 67135.33 30.60 S'77,986. .� 2 429735-39 $ 429735.39 2.73 039 $ ®0® ®41® Balance at January 1, 1956 Additions: Remittance from "County Treasurer: On special assessments On taxes receivable Collections by Village on special assessments: Principal Interest Proceed from sale of bonds: Principal Accrued interest Advance from General Fund Sale of investments Collection from other funds accrued at December 31, 1955 Over collection on special assessments Advance from Improvement Fund Increase in water main and sewer connection deposits Transfer from Construction Fund Transfer from General Fund Increase in accounts payable Sundry. Deductions: Construction costs charged to other funds: General Fund Permanent Improvement Revolving Fund ,Improvement Funds Increase in construction in progress: Balance at December 31, 1956: Current construction Deferred construction Unallocated costs Balance at January 1, 1956: Current construction - Deferred construction (Total carried forward) * Indicates red figure. $728,211°34 3049935-88 .6,263.13 $582, 5510:87 186,784011 $1,039,410035 IMPROVEMENT ANALYSIS OF CHANGES VILLAGE Year ended $ 20,207.46 23,857.28 796.608-57 d409673-31 270.o74-37 1,1107747.6 8 64177293-5-97-27 T90 2,0 .1 r.7 33F Permanent Special Improvement Combined Construction, Assessment Revolving 491573.41 6 11639.23 612,099.19 5 452.07 615,165.87 $ 89305.51 $25978302 31,079.65 792081,32 �2z.30 21o86007 517.33 009 1308 1,220,000.00 3,322066 759000.00 $ 75,000000 19499,101.82 803,704.15 359994.55 10,098.16 429858.72 35,150.64 361 -ox 361.01 191109000.00 '111109000.00 41426081 4.1426.81 9,300.00 169410.78 169410.78 157724.538 15,724.53 I+,722,7� 2,0 0, 1 091 96 20 37,9 1027 $ 20,207.46 23,857.28 796.608-57 d409673-31 270.o74-37 1,1107747.6 8 64177293-5-97-27 T90 2,0 .1 r.7 33F FUNDS IN CASH BALANCES OF EDINA December 31, 1956 1952 Debt 1950 Improvement: 1951 Improvement Improvement Service First Series Second Series First Series Second Series First Series $ 3;200.00 $ 635.35 1,833.38 $ 517.42 $ 165.47* $ 615.51 $161617.91 $20,778.80. $131240°35 $-83,828.48 $ 66,197.97 904.42 602.95 51432.73 11152.05 1,168.72 11980.90 6,868.55 39933.02 2.65 2.46. 1.08 17.97 4.56 $17,563•3.5 25,977.43 459529.27 13,197.28 1137869.66 1099926.98 300.00 Fl 7-1 3.3 31+7 -967717 V7,779.2 1022a 56 $204 , 5$776 51859495.2 520,763,37 879289.71 669,612.63 829,539797 $204,419.1-9 8186,110.7 `1953 Sanitary Improvement Improvement Sewer Southdale 1954 ImprovementL. Bond First Series No° 53 Improvement First Series Second Serieg Redemption 1$ 283 °58 $ 21405 °77 $ 19092 °65 $1; 329 °73 2,891 °33 $ 21,743 °67 $ "'621827 °91 $ 53,482.24 $33,624 °32 $239338 °57 - $ 599128 °12 $ 148,012 °49 24,139055 5,070 °09 169839 °86 13,410 °90 2,542 °56 61540 °86 17,466 °44 17 °83 251 °28 199 °03 3 °42 1 °57 1 °55 83,290 °54 -4,000 °00 25.00 $1559231-37 259299 °10 349755 °21 385-38 120,012 TF2 ,37 40,883 °84 -5,092 °45 45,171 °15 971 °20 29000 °00 39000 °00 25.00 $739860. F 51149837-90 192209000 °00 3,322 °66 93,841 °15 1,644 °43 $19484 ,2 °72 5155t 5-14-75 612294-17 5 73 , W777 $74,190-57 5117,7297Z > > -42- (Total brought forward) Deductions (cont °d): Less increase in contracts payable: _Balance at December 31, 1956 Balance at January 1, 1956 Payments on accruals at December 31, 1955 Investments purchased Transfer to Improvement Fund Payment to County Auditor for bookkeeping charges Bonds redeemed Interest on bonds Bank service charges Refunds on special assessments Charged directly to reserve for assessment adjustments Legal costs bond sale Paid to City of Minneapolis - sewage disposal plant Advertising bond sale Transfer to Construction Fund Transfer to refund account Transfer to General Fund Sundry Indicates deduction. 1" $ 3o4,935-88 186,784.11 Balance at IMPROVEMENT ` ANALYSIS - OF'- CHANGES Permanent Special Improvement Combined Construction Assessment Revolving $19110,747068 $49772935929 $29062,056014 $56,781°65 $387433.34 118,151-77 $ 9929595.91 $ .9927595.91 1469772018 1349892°41 $ 6340oo $ 69153-32 17779,087022 9001000000 109087022 33,0001000 99300000 99300000 19071005 4oe75 51070 4877000°00 149000000 139, 547 06 281-73 19007038 23089 474.75 .1,830.31 7,507.65 29390001 2,390001° 30060 191107000000 4,949049 4,850.29 99020 169410078 169410°78 88-90 36.1 * 4,700,0630 29 2 03 97 032 $_8,71 8 539,2-6B—.0 December 31, 1956 $ 72,296°00 ------- - - - - -- $ 259267082 ------- - - - - -- $ 8,062og8 ---- - - - - -- $ 834073* ---- - - - - -- FUNDS IN CASH BALANCES (Copt °d) 1952 Debt 1950 Improvement:. 1951 Improvement.. Improvement Service First Series Second Series First Series Second Series First Series $20,763-35 $457289.81 $69,612.63 $291539.98 $204,419.19 $1869110.77 $20,000.00 700.00 27.20 _r. Z6.12 . $ -o- $32,000.00 66.25 15,000.00 1,451.50 23015 $53,000.00 40.10 15,000.00 1,323000 540.90 $69.4 31.20: $ 31251009* $ 181.43 $16,000.00 29.50 12,000.00 1,438.00 20.30 $29.48 7. o $ 52.18 $1189000.00 115.70 60,000.00 10,595.00 101.48 62.05 $188,874.23 $ 159544.96 $ 347000.00 62.60 1407000.00. 8,662.50 196066 210.00 T173.131-76 $ 2,979.01 i" I 1953-1 Sanitary Improvement Improvement Sewer Southdale 1954 Improvement -- Bond Fl.r,st,Serl.es. No. 53 Improvement First Series Second Series Redemption $1551514.95 $122,417.8o $839467.49 $74,190.57 $1177729.23 $1,5069032.39, $ ,092045 7 ,000.00 62.40 66,000.00 8,642.00 104.11 32.22 615 33.1 $ 581.77 $ 22,000.00 255.30 60,000.00 22,985.83 120.31 $1054361 $ 17,056.36 $54,000.00 26.45 20,000.00 8,970.00 50.58 185.16 3.232.1 $ 235.30 $30,000.00 37.00 40,000.00 3,960.00 59090 88-90 1 4 5. 8 0 $ 44.77 $ 769000.00 68.5o 25,000.00 14,772.50 94.55. 329.48 152.60 1,187016 $ 326,000.00 214.80 55,720.000 162.15 51000 1,467.71 69135.33 30.60 111107000.00 $117,604-79, $ 124.44 $ 61250080 -1+3- t, The following schedules have been bound separately for convenience in references IMPROVEMENT FUNDS: Special Assessments Receivables Current and Delinquent ...............oa000 Page 44 Deferred .. oo ............................. .45 Construction in Progresso Current ... o ............................... Deferred .. o a000 .....................aa.ao. Summary of Reserve for Assessment . Adjustments and Outstanding Assessments and Bonds ...................... Contracts Payable0000000e.000.o.o o o.°000.00Q Bonds Payable......... oaooa ................. 47 48 51. 54 55 -44- to -55- - WATERWORKS FUND BALANCE SHEET VILLAGE.OF EDINA December 31, 1956 ASSETS CURRENT ASSETS Cash.- On deposit $ 49627033* Appropriated funds 15 ' 538 13 Working funds 25000 $ 109935.80 Investments.- United States Government - securities .at cost $ 1249945028 Accrued interest receivable 238.86 125,184.14 Less_amounts segregated and shown below 652173.35 609010.79 Accour:ts redeivable.- From customers $ 289047-99 Sundry 202042 Due from General Fund 49690.91 329941032 Inventories: Meters - at cost $ 49152084 Supplies - estimated 14750000 5,902084 Prepaid expenses , 69' - TOTAL CURRENT ASSETS 1109124.44 OTHER ASSETS Segregated securities.- For reserve for debt retirement $ 319953.75 Unexpended construction funds X339219.60 659173-35 FIXED ASSETS Note A Land $ 159927.30 Land improvements $ 2,907-00 Buildings and equipment 2,201 96 0.41 Less allowance for depreciation 2y2 , 70 l 206j,300o05 1,2989257 36 2,0149184.66 $291899482°45 * Indicates red figure. See notes to balance sheet. #. CURRENT LIABILITIES Accounts__payable and accrued expenses: Trade accounts _Salaries and wages Interest Due to General Fund Current maturities of bonds payable LONG -TERM DEBT Bonds payable - Note B Less current maturities - shown above SURPLUS Revaluation of fixed assets - Note A Contributed by special assessments - Note A Contributed by General Fund Earned: Appropriated Unappropriated LIABILITIES 29887.54 47061 32050085 $ 59986°00 10,066040 23,000-00 TOTAL CURRENT LIABILITIES T__3_9_q_03T.7U $ 3579000000 239000000 3349000000 $ 339469034 115599973-88 169380066 $196099823088 $ 479491088 159,114029 206,606017 19816,430005 $2.91899482045 -56- .- WATERWORKS FUND NOTES TO BALANCE SHEET VILLAGE OF EDINA December 31, 1956 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 An 0 Ann amount f maturities: 1957 1958 1959 1960 1961 1962 19h4 165 1966 18968 1969 1970 194 Issue march 1, and September 1 2 1/2% and 2 3/4% 8,000.00 8,000000 89000.00 -8,000.00 109000.00 10,000.00 109000.00 10,000.00 10,000.00 109000.00 109000.00 195 Issue March 1, and September 1 2.75% $ 5,000.00 5,000.00 5,000.00 5,000.00 5,000000 59000.00 59000.00 ,000.00 ,000.00 109000.00 109000000 $1029000.00 665y000.00 ----- - - - - -- ---- - - - - -- 19 Issue Total March 19 and September 1 2.60%9 2-309 and 2050 plus additional coupon of $7.50 $ 109000.00 109000.00 109000.00 109000.00 109000000 109000000 109000.00 109000.00 109000.00 109000000 10,000.00 09000.00 09000°00 00000.00 $1909000.00 Bonds maturing after September 1, 1957 of 1947 issu subject to redemption and prepayment at the option on said date and any interest due date thereafter. after March 1, 1963, of the 1953 and 1955 issues, to redemption and prepayment at the option of the date and any interest due date thereafter. Thirty notice must be given to bondholders. $ 23,000.00 239000.00 23,000.00 239000.00 25,000.00 25,000.00 259000.00 259000.00 259000.00 09000.00 0,000°00 og000000 0,000:00 0.000.00 $3579000000 e shall of the Bonds shall be Village days p be Village maturing subject on said-"- rlt)r -57- WATERWORKS FUND STATEMENT OF SURPLUS o VILLAGE OF EDINA Year, ended December,31, 1956 Contributed Contributed by by Total Earned Appropriated Assessments General Fund :Revaluation Balance at January 1, 1956 „ $1,437,630.66 $1339920.86 .$48.9457.50 $1,204,720.32 $169380.66 $349151.32 Additions: Net income for the year 239545083 239545-83 Water mains contributed.by special assessments 3559253.56 355,253.56 Appropriation of funds for reserve for debt retirement -o- 965.62 965.62* Depreciation provided during the year on excess of appraisal value over cost -o- 681.98 681098* Balance at December 31, 1956 $19816,430.05 $159,114.29 * Indicates deduction. $47.,491.88 $17j5599973.88 $169380.66 $339469.34 -58- 0 ,1 WATERWORKS FUND STATEMENTS OF INCOME AND EXPENSE VILLAGE OF EDINA Number of meters in use: At end of year At beginning of year 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 Expenses: Pumping: Labor Power and light Supplies Buildings: Labor Fuel Supplies Telephone Repairs Insurance Equipment rental Water purchased Provision for depreciation Repairs Distribution: Labor Materials and supplies Operation of meters: Labor Supplies and expenses Equipment rental and outside labor Provision for depreciation Repairs Tanks and towers: Labor Power Supplies Equipment rental Provision for depreciation Years ended December_31g '1956 1955 3,859 3,4ol $ 13,311070 12,140.93 3 1,170077 122,115.87 1,870052 29153050 661050 -0- 78000 4,690.91 547.4o -0- 133,2 . 7 14,526097 57844 1,451.52 424.15 158026 180.00 501-94 267.65 359-34 623.50 7,444.65 143032 27,483080 $ 5,671.26 2,262.95 2'498.54 1,608.49 31,409.88 241.31 ,0760 $ 71.54 121041 66.09 232000 8 8292 6 9,31 796 3,401 29935 129673.25 11,62795 $ 1,045030 123,209 55 1,520.05 1,736050 438000 2.00 82000 6,850°00 123070 390.41 81359 7. $ '929.97 13,931.60 137.67 939.25 353.53 72063 183065 -0- 295.23 641.50 697-73 5,674088 178-86 9036050 $ 2,865°64 692.93 19938.65 19.51 4,26518 24,792°10 �080 $ -o- 37.76 s8� 4 - i 09. T-71215.71 Increase Decrease* 466 $ 638.45 512.98 $ 125°47 1,093.68* 350.47 417.00 223050 2-0 00* 4.00* 21159,09* 423.70 390.41* T —2910 . * $ 105.91* 595.37 444077 512027 70.62 85.63 3065* 501°94 27,58* 282016* 74023* 19769-77 .35.54* 6 39447.30 $ 2,8o5662 1,570.02 4436-14 479.03 2,656069* 6,617078 189-53 I $ 71054 83665 66.09 232000 4 647.97 j9101- -59- Expenses (cont °d): Water treatment: Labor Supplies Provision for Mi-s ce 11- aneDu-s WATERWORKS FUND STATEMENTS OF INCOME AND EXPENSE (font °d) depreciation Vehicle operation: Gasoline and oil Repairs Insurance Administrative and general: Salaries: Superintendent Clerical (General Fund) Meter reading Meter reading supplies, Office supplies, postage and telephone Professional services Equipment.rental and repairs Supervision Provision for depreciation Mi s c el laneou-s TOTAL OPERATING EXPENSES OPERATING INCOME Other income: Income on investments Other deductions: Bond issue expense Interest on bonds and-contracts Fiscal agent °s servi-ce charge Loss on sale of old water tower NET INCOME Depreciation charges to operations included in expenses Years ended December 31, 1 1 $ 297-69 x,;-573.98 421.86 25.42 2,31 $ 4-84.54 173.91 1.09 7 $ 3,306.43 2,219.76 4,170.29 101.40 1,479.38 4,66335 52.90 1,560.00 906.66 2680 0 GP 1 2 102 016 30,614031 2.658.62 33,272.93 $ -0- 9,668.77 58-33 -om 90727.10 $ 239545-83 $ -o- 1,142.54 127.12 -o- 8 11299.-- -o- mo- -o- $ 2,131.48 29695.14 2,688.17 139.82 702.10 850.00 167.1_5- 540.00 77173 170-78 F 10 . 00 .0 0,391. 1,182-58 61,7.0 $ 849.63 8'34o.45 787.26 $ 10,058.42 $ 51,515.62 Increase Decrease* $ 297-69 431.44 24.4 2;142 1,0 .2 $ 484.54 173-91 91.09 71T 7-751� $ 1,174.95 475-38* 1,482.12 38.42* 777.28 3,813.35 114.25*- 19020.00 134.93 _ 2 0 2 .11 29Y777 1 1,.476.o4 2 ,3o1 -7T*. $ 849.63* 1,287.69 17.88 787.26* 1. 2* $27,969.79* $ 49,008097 $ 35,543.78 $139465.19 WATERWORKS FUND, ANALYSIS OF CHANGES IN CASH BALANCE VILLAGE OF EDINA Year ended December 31, 1956 Balance at January 1, 1956 Operating fund Sinking fund Additions: Collections on accounts receivable Sale of investments Collections on miscellaneous receivable Collection on amount due from other funds Sale of water meters Sundry sales and services Income on investments Decrease in prepaid insurance Increase in due to other funds 2,406.68* 1 9 1.2 2 . $120,419.82 2829255.18 96329 6,850.00, x3,311.70 3,422.40 2,419.76 381 °99 8153°12 458,5Z7.26 Deductions: Investments purchased $1891694.00. Meters purchased 127647 °57 Additions to fixed assets. $1469821.99 Less carrying value of ,disposals 80 °81 1467441.018 Payment to fiscal agents: Principal $ 227000.00 Interest 109526.25 Service charges 58.33` 329584.58 Decrease in payables: Trade accounts $ 513.42 Salaries and wages 124080 Contracts 5,520.29 69158 °51 Operating expenses $1029674.16 Less provision for depreciation 49,008°97 53,665.19" 4419191.03 SUMMARY Operating fund Sinking fund * Indicates red figure. Balance at December 31, 1956 $ 109910.80 $ 49627.33* 15,538 °13 TOTAL $ 10,910.80 -61- WATERWORKS FUND FIXED ASSETS,_ VILLAGE OF EDINA Year ended December 31, 1956 Land Land improvements Distribution system: Purchased. Contributed. by special assessments Contributed by General Fund Buildings and equipment: Pumphouse buildings Wells Pump and piping Tanks and towers Office equipment Miscellaneous equipment Water treatment equipment Automobile and truck Tools Construction in progress * Indicates iced figure. TOTAL A s s e Balance January 19-1956 Additions Deductions 15,927.30 29625036 $ 351.35 $ 69.71 $ 1689883050 192079601.71 $3559253.56 16 80066 U-9392986577- 3 ,2 30 -o- $ 36,896°73 $ 11454050 70,289018 56,553 89 79773008 959535.45 9,44o04o 1'784°75 5,o84067 59458040 2913155 1992500 $650000 350-00 62 000 2 0 to 1, 650.00 1719-71 4-1,968- 610 33 3 02 389167.34 120,419026 $197199128087 $5029075.55 $719.71 t s balance December Transfers 31, 1956 $ 159927.30 "9 -o $157,340.00 1,246.60 2,907.00 $ 168,883.50 19516,380.66 U-197 ,119. 3 $ 387351.23 70,289.18 64,326.97 262,315.85 1'784.75 11,789.67 3,406.55 50.00 0. $2t220,484.7-1 -o- balance January 1, 156 $ -o- wa.nces for Depreciation Balance Current December Provision Deductions 315, 1956 $ -o- 258.11 $ 110.64 $ 13.90 $ 539979.58 62,553.72 764.4o $1179297.70 $ 4,477.82 8,176.53 16,720°83 9,o47.21 618.04 245.48 127.12 661.14 -o- 0 1 5157,629.99 -o- $2,220,484.71 $1579629.98 $ 3,377.67 27,704.60 327.61 $31,409.88 $ 1,500.43 2,811.57 3,022.01 8,825.92 1.91.67 69.72 421.86 645.27 1 488.4 9,00 . 7 $49,008.97 $325.00 2. 00 6338! 0 $338.90 Net Balance December 31, 1956 $ 159927.30 354.85 21552.15 $ 57,357.25. -$ 1119526.25 901258.32 19472,596.95 1.092-01 15.288.65 1 9707. -5-8 1195-99,411. $ 59978.25 $ 329372.98 10,988.10 59,301.08 19,742.84 44,584.13 17,873.13 2449442.72 80941 1407.07 315.20 469.55 548.98 119240.69 981.41 29425.14 -o- 0.00 2 . 52069300-05 2,01 ,1 -o- -o- $206,300.05 $290147.184.66 -62- I# GARBAGE FUND BALANCE SHEET VILLAGE OF EDINA December 319 1956 ASSETS CURRENT ASSETS Cash: Demand deposit Investments° United States Government securities - at cost Accrued interest receivable Receivables• $2,785031 $19515004 5.15 19520019 Certified in 1956 Collectible in 1957 $ 154025 Delinquent receivables assessed 208-71 62096 TOTAL CURRENT 849668-76 +6 FIXED ASSETS Equipment $ 247082 Less allowance for depreciation 46092 200.90 449869.36 LIABILITIES CURRENT LIABILITIES Due to County Auditor for service charges. SURPLUS Invested in fixed assets Available 4 1.65 $ 200090 .4,666081 4.867071 $4,869036 -63- -W #1 1 -64- GARBAGE FUND STATEMENT OF SURPLUS VILLAGE .OF EDINA Year ended December 31, 1956 Invested in Fixed Available Assets Balance at January 1, 1956 $5,226058 $225-68 Deduction: Net loss for the year 584.55 Transfer: To.surplus invested in fixed assets 24078 24.78 Balance.at December 31, 1956 $49666081, $200.90 Indicates red figure. -W #1 1 -64- GARBAGE FUND STATEMENTS OF INCOME AND EXPENSE VILLAGE.OF EDINA Operating income: Service charges and penalties Operating expenses: Collection service Administrative and general: Clerical,- General Fund Office supplies Provision for depreciation Auditing Postage Telephone Miscellaneous TOTAL OPERATING EXPENSES OPERATING LOSS Income on investments Miscellaneous income NET LOSS Years Ended December 31, Increase 1,25-6 1955 Decrease* $10,953.85 $24,466.85 $131513.00* $109259.20 $22,836.75 $127577.55* $ 1,063.82 -0- 24.78 140.00 25.47 120.00 45.15 1' 1 . 2 11,678-42 72 7 48.57 91.45 $ 584.55 1,562.57 32.63 22.14 175.00 58.34 -o- -o- 1 0. 2 220 44.63 -o- $ 175.95 $ 498.75* 32063* 2.64 35.00* 32.87* 120.00 45.15 1. * 1 009-0 Ol* 503.'99' 3.94 91.45 $ 408.60 -65- GARBAGE FUND ANALYSIS OF-CHANGES IN CASH BALANCE VILLAGE OF EDINA Year ended December 31, 1956 Balance at Janu&r.y 1, 1956 $ 29444.16 Additions: Collections on customers.' accounts $109765.90 Tax settlement 907.14 Income on investments 63-90 Sale of investments 27000.00 Miscellaneous income 86-00 139822.94 5169267-10 Deductions: Refunds.to customers $ 15.10 Expen ' ses for year $119678.42 Less provision for depreciation - not requiring cash - 24.78 11,653.64 Accounts payable at January 11 1956 19813.0 132481.79 Balance at December 31, 1956 $ 27785.31 E I0, -66- *` f SEWER RENTAL FUND BALANCE SHEET VILLAGE OF EDINA December 31, 1956 ASSETS CURRENT ASSETS Cash: Demand deposit Investments: United.States Government securities - at cost Accrued interest receivable Receivables: From.customers Assessments receivable Prepaid rent FIXED ASSETS - at cost Equipment Truck Less allowance for depreciation CURRENT LIABILITIES Trade 'accounts payable Accrued pay roll DEFERRED CREDIT •'Income billed in advance SURPLUS. Invested in fixed assets Available , $1,0,100 0 52 34034 $ 59883046 . 13063 $16,984083 10,134086 51897-09 0000 TOTAL CURRENT ASSETS $33,366.7d $ 6,25095 1,572.03 7'767.46 Z30�5m52 $40,422030 LIABILITIES $14,076070 0.1 TOTAL CURRENT LIABILITIES � -16F77 49430.60 $ 79055.52 14,769.28 21,824081 $4o,422030 -67- SEWER RENTAL FUND STATEMENT OF SURPLUS VILLAGE OF EDINA Year ended December 311 1956 Balance at January 1, 1956 Addition: Net income for the year Transfer: To surplus.invested in fixed assets Balance at December 31, 1956 * Indicates red figure. 4 Available $16,776.43 3,121.73 5,128.8?r $14,769.29 Invested in Fixed Assets $1,926-65 128.8 $7;055.52 -68- SEWER RENTAL FUND STATEMENTS OF INCOME AND EXPENSE VILLAGE OF EDINA Years Ended December 31. Increase 1956 1952 Decrease* Operating income: Service charges and penalties. $37,992.85 $20,358.42 $17,634.43 Expenses: Operating: Sewer maintenance and treatment Labor Supplies Repairs Water Power Provision for depreciation Vehicle operation: Labor Gasoline and oil Repairs Provision for depreciation Administrative and general: Clerical and supervision Stationery and postage Auditing Telephone Miscellaneous Unallocated: Settlement of suit TOTAL EXPENSES OPERATING INCOME-LOSS* Income on investments Miscellaneous NET INCOME-LOSS* $221079.97 6,873.42 567.46 454.19 300.00 600.33 418.48 $31129T.-7 2355-0 9 52017 157.20 $` 498.26 $ 2,005.71 564.09 14o. oo 140.00 71070 2,9210 00.00 2 0 ' 340.64 1.85 $31121.73 $18,056.21 1,183.16 25.21 978.26 200 o 00 78.51 191°78 20,713.13 $ 70- -o- -o- 1,562°57 114047 125.00 -0- 30.39 , vJc. o $ 4,023.76 5,690.26 .542.25 524.07* 100.00 521.82 226.70 109 5-130-72 $ 53.80 235.09 52.17 157.20 $ 498.26 $ 443.14 449.62 15.00 140.00 41.31 9089.0 -o- 500.00 322.08 F 18.56 -o- 1.85 $ 19865.06* $ 41986.79 SEWER RENTAL FUND ANALYSIS OF CHANGES IN CASH BALANCE VILLAGE OF EDINA Year ended December 31, 1956 Balance at January 1, 1956 (overdraft) Additions: Collections on accounts receivable Sale of investments Income on investments Tax settlements received Deductions: Expenses for the year Less provision for depreciation Purchase of fixed assets Increase in prepaid expense Refund on assessments,receivable Accounts payable at January 1, 1956 .Less payables at December 31, 1956: $35,213.61 575.68 600.79* $36,482.84 17,000.00 451.12 286.74 54,220-70 $539619.91 $34,637-93 5,704 °55 350.00 6.90 10,102-34 .72 Trade accounts $149076.45 Pay roll 90.19 14,166.64 36,635.08 Balance at December 319 1956 $16,984.83 * Indicates red figure. _70_ LIQUOR DISPENSARY FUND BALANCE SHEET VILLAGE OF EDINA December 31, 1956 ASSETS CURRENT ASSETS Cash: Demand deposits $ 167339.86 Deposits in transit 11,068.25 5 Working funds 1,200.00 $ 28,908.11 Accounts receivable for recoverable improvements 59132.84 Merchandise inventory - at cost (applied on a first -in, first -out basis): Liquor 1 98,079.06 Wine 10755.9.20 Beer 3,43313 Mix 34o.17 Miscellaneous .274.61 1129686.17 Prepaid expenses: Unexpired - insurance $ 841.94 Supply inventory 150.00 1060 79 11098 Other TOTAL CURRENT_SSETS 6147,82 . FIXED ASSETS - at cost Land Land improvements Building Furniture, fixtures and equipment Leasehold improvement Less allowance for depreciation and amortization CURRENT LIABILITIES Trade accounts Accrued salaries and wages Due -,.to General Fund SURPLUS Invested in fixed assets Available /* $ 169500.00 $ 1,495.11 49,440,72 11,707.85 12,455.44 7 9 0 2 18,581.90 56 17.22' 73,017.22 $220,843.07 LIABILITIES $ 129313.56 1,183.65 131-10 TOTAL CURRENT LIABILITIES �, 2 .' $ 739017.22 134 19Z.54 207,214.76 $22098}3.07 -71- LIQUOR DISPENSARY FUND STATEMENT OF SURPLUS VILLAGE OF EDINA Year ended December 31, 1956 Balance at January 1, 1956 Additions: Net income for the year Deductions: Transfer to General Fund Transfer Balance at December 31, 1956 * Indicates red figure. Invested in Fixed Total Available Assets $225,479.39 $1747649.29 $509830.10 10 X566. 4 103,566o94 0, 3070 1212 831-57 121,831-57 42079214-76 1 ,3 . V509830-10 —0— 22,187.12* 22,187.12 $2079214.76 $1349197.54 $739017.22 —72— Sales. Liquor Wine Beer Mix and miscellaneous Less bottle .r-efunds NET SALES Cost of sales: Inventory at .January 1st Purchases Inventory at December 31st ,GROSS PROFIT Op.arating expenses: Selling Overhead Administrative TOTAL OPERATING EXPENSES NET OPERATING INCOME Other income: Cash over Income on investments Miscellaneous income LIQUOR DISPENSARY FUND STATEMENT OF INCOME AND EXPENSE VILLAGE OF EDINA Year ended December 31, 1956 Location 2-6-0 50th Street Southdale-71) Total 4.2 447,952.07 $36,531.03 454'483.10 66,661.88 2;888.05 69;549 93 7.986.15 02' 8 21044 $56-77805 13 . ;072022 13, 77.3 88 a4 6 .64 4900 19070 546,008.58 U-12 ,92 .2 $ 80,751.10 434.225-6.0 1,7070 $431,318-37 $135,601.33 $ 18,019.10 6,883000 12,798.36 39942 1,105.96 75.00 $ 99,481.25 $ -o- 6.21 66-2-9. 21 29,027-84 93�2605.3Z - 12,203021 3, Oo4 . o4 1,946052 3,181.31 811° 7 14035 $ 4,085,69 $ 809751.10 497,058-81 $577,809.91 112,686.17 $465.123-74 1 7, $ 21,023014 89829-52 15, 979 67 14 8 2.+ 9 413.77 1,105.96 75,, 00 $1031566.94 Depreciation and amor- tization charges to operations included in expenses $ 2,787.77 $ 459.42 $ 39247.19 Note A - Represents operations.since October 5, 19567 the opening of Southdale Store. Per Cent to "let Sales Ot South - Street dale 10000% 100.0% 6.1 23090 2-6-0 3.21 6.5% 1.2 4.2 2.3 6.9 6.7% 1Z.§g 17.270 . o .1 .2 17 5% 8.9% .5% 1.01 -73- 0 i LIQUOR DISPENSARY FUND STATEMENTS OF INCOME AND EXPENSE (50th STREET LOCATION ONLY) VILLAGE OF EDINA Sales Less bottle refunds (allocated on basis of sales) NET SALES Cost of sales: Inventory at January 1st Purchases Inventory at December 31st GROSS PROFIT PER CENT TO NET SALES 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 Professional services Audit and accounting Taxes and licenses Sundry Other income: Cash over Income on investments Miscellaneous income 0 Liquor Wine $4459205.03 ,20 .03 70,140.55 341,8 21.4 8 11, 2.03 73.483-92 9718.478-11 $1067726.92 23.97% 1 $471952.07 $4719527-7 $ 7,711.27 33,011-87 � 5409723.1 333' 3 $149607.77 30.46 Years Ended December Beer $ 2,433°98 53,520.14 12 2.408. $12,319.40 18.70% Miscellan4ous $7,986.15 88. $79897-61 465.30 5,872.11 ,,387•044 $2,950.32 $1,947.24 24.71% TOTAL .OPERATING EXPENSES TOTAL OPERATING INCOME NET INCOME Total $567,805.13 88 .4. ,919.70 $ 80,751.10 434 225-60 83' 678.70 $431,318.37 $135,1601-33 $ 7,095.50 17,037.06 39083.55 1.470-00 F12 , . 1 $ 61.85 1,850.71 875.21 2,7 7.77 1,632.93 652.68 684.90 250.01 173.25 921.o4 63.61 437.11 140.35 156.00 345.00 64o.00 61.00 68. 0 372700.-46 5'979900-87 399.42 19105.96 75.00 $ 999481.25 1955 Total $552,779.86 1.080.63 1,699.23 $ 761705.,58 4239986.-2 45000 0 5 69, 2.2 80,751-10 $419,241.19 $1319758.04 $ 7,008.00 15,310.72 2,691.58 54o.00 9 25,550.3-0 $ 1,586.28 881-96 2, 30.09 158.12 708.39 610.68 209.03 173.25 1,039.23 122.45 30.45 147.15 114.00 -o- 800.00 50.00 2.0 2' 2 .1 20 7 443.80 369.30 -o- $100,275.97 Increase Decrease* $15,025.27 195.20* 9220.4-7 $ 41045.52 10.238.89 $14,254.41 2,907.23 11 .1 $ 3,843.29 $ 87.50 1,726.34 391.97 930.00 3,135.81 $ 264.43 6. * 6 257 1,474081 55.71* 74.22 40.98 -0- 118.19* 58084* 406.66 6.80* 42.00 345.00 160.00* 11.00 16.6 0 .. 19562.00* 44.38* 736.66 75-00 $ 794.72* Per Cent to Net- Sales "_1 9 1955 100.00% 100.00% 76-08 76. 12 23.92°% 23.8810 1.25% 1.27% 3.54 2.49 •1 .29 .03 .26 .10 T.-OV6 - +. 737 .01% .01% .33 .29 77 •1 .29 .03 .12 .13 .12 .11 .o4 .04 .03 .03 .16 . -19 .O1 .02 .03 .03 .03 .02 .06 -0- .11 .14 . .O1 .01. .01 17.27 ..ol- 18.0-37o .07 .08 .20 .07 17.54% 18..18/ -74- LIQUOR DISPENSARY FUND FIXED.ASSETS VILLAGE OF EDINA -75- Year ended December 319 1956 Balance Balance January Deduc- December 11 1956 Additions tions 31, 1956 ASSETS Land $16,500.00 $16,500000 Land improvements 11546023 $ 51012 17495.11 Building 397657.08 $ 9,783.64 49,440.72 Furniture, fixtures and equipment 8,754.10 3,371°75 418000 11,707.85 Leasehold improvements -o- 12,455.44 12,455.44 37 T277 100 3 FTT. 12 1, . 2 ALLOWANCE FOR DEPRECIATION AND AMORT IZAT ION Land improvements $ 371.10 $ 61.85 $ 432.95 Building 97959-55 19850°71 115810.26 Furniture, fixtures and equipment 59296.66 11023024 $292.60 69027.30 Leasehold improvements -o- 311.39 311-39 $15,627.31 $ 39247019 $292060 $18,581-90. NET BALANCE $73,017.22 -75- Fund: General:. Current Appropriated Poor: Current Park: Current Improvement: For assessment refunds For bonds and interest For construction Waterworks: Current Appropriated Garbage: Current Sewer rental: Current Liquor Dispensary: Current CASH - ALL FUNDS VILLAGE OF EDINA December 31, 1956 Demand For Working Deposits Deposit Funds Total $ 291595.00 21437.92 2,885.14 3, 93244 37,250.15 $ 51845.59 25.267-82 3—o , $ 141627.33* 10, 910. 85 2,785.31 16,984.83 $ 29,595.00 325.00 325.00 21437.92 2,885.14 37932.44 43,095.74 25,267.82 72,2 .00 $ 47627.33* $ 25.00 15,563.13' 25-00 5 10, 93r. rO 2,785.31 16,984.83 16,339.86 11 068.2 1,500-00 28,908.11 TOTAL $148,389.27 $ 16,913.84 $1,85o.00 $167,153.11 Depository. . First Edina National Bank First Southdale National Bank Midland National Bank of Minneapolis. TOTAL * Indicates tred figure. $ 53,233.26 79,988.21 15,167.80 $148,389.27 -76- SECURITY FOR DEPOSIT VILLAGE OF EDINA December 31, 1956 First Edina National Bank First Southdale National Bank Midland National Bank of Minneapolis 8 Demand Deposits $539233.20' TOTAL $537233.26 $79,988.21 TOTAL $79,988.21 $15,167.80 TOTAL $159167.80 — Amount $2009000.00 10,000.00 $2109000.00 $1009000.00 10,000.00 $1109000.00 $ 159000000 35,000.00 10,000.00 $ 609000.00 S e c u r i t F o r D e o s i t s escr ptlon United States Treasury bonds 4% June 15, 1962 Federal Deposit Insurance Corporation United States Series C Certificates June 24, 1957 Federal Deposit Insurance Corporation City of Moorhead, Minnesota Certificates of Indebtedness leg% February 1, 1964 Independent School District Noe 1, Rice County, Minnesota, School Building Bonds January 11 1964 Federal Deposit Insurance Corporation -77- DescriAtion United States United States United States Certificates United States United States United States United States Treasury Notes Treasury Notes Treasury of Indebtedness Treasury Bills Treasury Bills Treasury Bills Treasury Bills Village of Edina, Minnesota 1956 Improvement Bonds Village of Edina, Minnesota 1956 Improvement. Bonds Fund ownership: Improvement funds: Special Assessment Funds Improvement Funds Construction Debt Service Waterworks Sewer rental Garbage Poor Liquor Dispensary INVESTMENTS VILLAGE OF EDINA December 31, 1956 Book Value December 31, 1956 $ .11,000.00 791,500.00 200,000.00 23.000.00 51,025,500.00 125,184.14 10,134.86 1,520.19 109000.00 -o- $1,172,33919 -78- Interest j Maturity Rate Face Value March 159 1957 2 7/8 $ 176,000.00 February 15, 1959 1 7/8 200,000.00 February 159 1957 2 5/8 1009000.00 January 319 1957 2501000.00 March 7, 1957 200,000.00 January 169 1957 1009000.00 February 15, 1957 50.000-00 1 076 ,000°00 March 1, 1962 3 4/10% $ 48,000.00 March 17 1963 3 4/10 48 000.00 000. OZ5 TOTAL $1,172,000.00 Balance Balance January December 1, 1956 Purchased Sold 313 1956 36,500.00 $ 109000.00 $ 359500.00 $ 119000.00 5747000.00 8369000.00 618,5oo.00 791,500.00 1009000.00 900,000.00 8009000.00 2009000.00 17,500-00 000.00. 27.500.00 23.000.00 72 9000.00 1�7797000.00 61 , 1, 500. 00 $190259500.00 2179000.00 190,000.00 2829000.00 1259000.00 27,000.00 179000.00 109000.00 3,500.00.. 29000.00 19500.00 6,500.00 7,000.00 39500.00 109000.00 50,000.00 50,000.00 100.000.00 -o- TOTAL $1:1032,000.00 $2,0269000.00 $1,886,000.00 $191729000.00 Book Value December 31, 1956 $ .11,000.00 791,500.00 200,000.00 23.000.00 51,025,500.00 125,184.14 10,134.86 1,520.19 109000.00 -o- $1,172,33919 -78- TAXABLE VALUATIONS, TAX LEVIES AND RATES VILLAGE OF EDINA Taxable valuation: Real estate Personal property Tax levies extended: Extended in year Collectible in year General Parks Bond and interest Poor and public nursing Firemen °s relief Fire protection Tax rate by mills: General Parks Bond and interest Poor and public nursing Firemen °s relief Fire protection TOTAL TOTAL TOTAL December 31, $17,0559549.00 $1411689276.00 116262638-00 1,369 11 .00 $189682,187.00 $1595379"391.00 195;6 1957 $ 4229217.43 36,430.26 37064.37 7,472 87 5,604.66 60538.77 $ 5159628.36 22.60 1.95 2.00 .4o .30 27.60 1955 1956 $ 3619244.34 31,851.65 31,074.78 7,768.70 4,661.22 4.661.22 $ 4411261.91 -------- - - - - -- 23.25 205 2.00 .50 .30 .10 28.40 -79- ORGANIZATION VILLAGE OF EDINA Year ended December. 31, 1956 Elected, Term Re- elected, or Expires Reappointed to . December 31, December 31, Village Council: Mayor: Arthur Co Bredeson 1957 Trustees: Frank Jo Tupa 1957 Emil Po Fronk 1957 Evald Ca Bank 1958 Wm. Dickson 1959 Clerk- treasurer: Gretchen So Alden (appointed) 1956 1957 Assessor: Alex Creighton (appointed) 1956 1957 Constable: Hilding Dahl 1957 Municipal Court: Donald So Burris, Judge 1962 Irving Iverson, Special Judge 1962 Village Manager: Warren Co Hyde Appointed by council Village Attorney: John Ho Windhorst 1956 1957 Assistant Village Attorney: Curtis Roy 1956 1957 Engineer: Joseph Zikan 1956 1957 8 r Position On file with clerk - treasurer: Blanket position Clerk of Municipal Court On file with County Auditor: Assessor Deputy assessor do do do do do do do do do do OFFICIAL BONDS VILLAGE OF EDINA December 31, 1956 Name Liquor Dispensary.employees Margaret Lindberry Alex Creighton Marleys D. Hawthorne • Alice K. Lewis Marie C. Dyregrov Marlowe N. Colburn Millicent Towne Elizabeth Covnick Florence M. Drake Winifred Creighton Mrs. J. L. Mattheison William G. Scott Earl S. Johnson A. C. Stringer Term Expires Bond Expires Amount Surety December 319 1957 May 17 1957 do do do do do do do do do. do do January 28, 19.158 April 18, 1957 December 311 1957 May 17 1957 500.00 do 500.00 do do do 500.00 do 500.00 do do do do do do do do do do $10,000.00- Indemnity Insurance Company of North America 11000.00 . Anchor Casualty Company 500.00 Anchor Casualty Company 500.00 do 500.00 do 500.00 do 500.00 do 500.00 do 500.00 do 500.00 do 500.00 do 500.00 do 500.00 do 500.00 do 500.00 do on 8 MUNICIPAL COURT FINES VILLAGE_OF EDINA Year ended December 319 1956 Fines and costs imposed and collected: Balance uncollected January 1, 1956 Fines and costs imposed Collections by Clerk of Court Balance uncollected December 31, 1956 Fines due to county and state from General Fund: Balance January 1, 1956 Collections by Clerk of Court Payments to state: Clerk of Court Transfer to .surplus Village 0 465.00 29.943-55 29;.829 55 S 57go00 State and County Total $855 $ �50 0 o 765ao55- 531264 05 855.50 30.968 5oo5 $ -om $ 579000 - - - - - -- ---- - - - - -- Balance at December 31, 1956 $ _ 290.50 -85 050 19146.370 S 855-50 22,0 20. 50 X46000 -om 0 INSURANCE VILLAGE OF EDINA December 31, 1956 Buildings and contents: Village Hall Tool house - 5150 Brookside Municipal liquor store Water tower - Concord Avenue Pump house #1 Pump house #2 Pump house #3 Pump house #+ Library - 4120 West 50th Street Caretaker home - 5150 Brookside Automotive: Highways: 1940 Diesel road patrol 1946 Diesel road patrol 1952 Diesel road patrol 1952 Tracavator Hydr #+ cat D -4 tractor loader Fire and Extended Coverase Buildings Contents' $205,000(c) $25,000(C) 251000(C) i4,occ(C) 309000(C) 5,000(C) 759000(D) 5OO(C) 29000(C) 11500(C) 59000(c) 37250(C) 39000(C) 397OO(C) 61000(C) 20,000(C) 5,000 Public Liability Compre- Bodily Propprty hensive Injury Damage $ 1,800 49000 7,500 7,500 1945 M. M. Tractor with loader 19500 1951 MA M. Tractor with loader 3,000 1952 Seaman pulvi -mixer 39000 1953 Huber Road Roller 49500 1955 Elgin street sweeper 109000 1955 3 wheel pneumatic roller 11000 1955 Steam cleaner 11900 1946 Ford pickup 300 $100/ 3001000 $509000 1946 Ford pickup 300 100/ 3001000 509000 1947 Ford pickup 450 100/300,000 50,000 1944 GMC 3 ton 19000 100/ 3009000 50,000 1949 Dodge 5 ton 21500 100/ 3009000 509000 1950 International oil distributor 39000 100/ 3009000 509000 1950 International dump truck 27500 100/ 3009000 50,000 1951 International dump truck 21750 100/ 3007000 509000 1953 International dump truck 39000 100/ 300,000 509000 1954 International dump truck 3,500 100/ 300,000 509000 1955 International dump truck 4,000 100/ 3009,000 509000 1952 Martin traitor 19800 100/ 3009000 509000 Fire Department: 1951 Ford fire panel 39900 100/ 3009000 509000 1942 International fire truck 61000 100/ 3009000 509000 1946.LaFrance fire truck 15,000 100/ 3009000 509000 1948 Willys jeep fire truck 6,000 100/ 3009000 509000 Other M j Automotive (contid). Water Department: 1954 Ford pick up 1953 Chevrolet tudor Engineering: 1951 Chevrolet carry all 1952 Ford tudor 1952 Chevrolet tudor 1950 Chevrolet tudor Park: 1953 Ford 3/4 ton Executive: 1955 Chevrolet tudor Police department: 1954 Chevrolet sedan 1955 Chevrolet tudor 1955 Chevrolet todor INSURANCE (Cont'd) Village liquor store: Comprehensive glass breakage Burglary robbery and theft — within premises - (Note Ei Burglary robbery and theft - outside premises - (Note Ej Burglary robbery and theft - merchandise (Note E3 Employees honesty bond Public liability - (Note E) Merchandise - stock reporting Business interruption Other insurance: Non - 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 Fire and Extended Coverage Compre- Buildings Contents hensive Public Liability Bodij-y Property Injury Damage 900 $100/ 3009000 $509000 750 100/ 3009000 50.1000 600 100/ 3009000 50,000 500 100/ 3009000 509000 500 100/ 3009000 509000 300 100/ 3009000 501000 39500 100/ 3009000 509000 $1009000 Note A - 40% coinsurance. Note B - 50% coinsurance. Note C - 80% coinsurance. Note D - 90% coinsurance. Note E - Coverage for 50th Street and Southdale liquor stores. 1,400 100/ 300,000 509000 19000 100/ 3001000 50,000 19300 1CO/ 3009000 509000 19300 100/ 3009000 50,000 100/ 3001000 50.9000 loo/ 300,000 loo/ 3009000 loo/ 3009000 50,000 50,000 50,000 Other Actual $ 59000 5,000 59 000 (A) 10,000 50,000(B) 3 000 Statutory