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REPORT OF EXAMINATION
AND OTHER FINANCIAL INFORMATION
VILLAGE OF EDINA, MINNESOTA
December 31, 1957
•eIO•
INDEX
ACCOUNTANTS' REPORT .................. ...........................PAGE 3
FUNDBALANCE SHEETS ........ ............................... 0... 0. 4
COMMENTS......................... ............................... 6
�^ GENERAL FUND:
BALANCESHEET .................. ............................... 23
STATEMENTOF SURPLUS ........... ............................... 24
REVENUE........................ .............................0. 25
EXPENDITURES..... ............ ............................... 26
ANALYSIS OF CHANGESIN CASH BALANCE ............................ 31
FIXEDASSETS ................... ............................... 32
POOR FUND:
BALANCESHEET .................. ............................... . 33
STATEMENT OF SURPLUS — UNAPPROPRIATED ............. ............. 34
STATEMENTS OF INCOME AND EXPENSE ............................0.. 34
ANALYSISOF CHANGES IN CASH BALANCE ............................ 35
PARK FUND:
BALANCESHEET .................. ...........0................... 36
STATEMENT OF SURPLUS — DEFICIT UNAPPROPRIATED ................. 37
ANALYSIS OF CHANGES IN CASH BALANCE...' 38
DISBURSEMENTS............. 39
FIXEDASSETS..... .................... o..o .... * ............ 41
PARK SINKING FUND:
BALANCESHEET .................. ...............Y......C........ 42
STATEMENTOF SURPLUS ............ ............................... 43
BOND AND INTEREST MATURITIES, DEFERRED TAX LEVIES
AND RESERVE FOR UNCOLLECTIBLE TAXES .......................... 44
PARK CONSTRUCTION FUND:
BALANCESHEET...' ....... ............................... 46
ANALYSIS OF RESERVE FOR CONSTRUCTION .......................... 47
ANALYSISOF CHANGES IN CASH BALANCE ........................... 48
FIXEDASSETS................... .............................. 49
IMPROVEMENT FUNDS:
COMBINEDBALANCE SHEET ......... ...............................
50
STATEMENT OF SURPLUS — UNAPPROPRIATED .........................
51
ANALYSIS OF CHANGES IN CASH BALANCES ..........................
52
BONDSPAYABLE .................. ...............................
54
WATERWORKS FUND:
Y BALANCE SHEET .................. ...............................
55
y- NOTESTO BALANCE SHEET ......... ...............................
56
STATEMENT OF SURPLUS ......:.... ...............................
57
STATEMENTSOF INCOME AND EXPENSE ..............................
58
ANALYSIS OF CHANGES IN CASH BALANCE .........................
......
60
FIXED. ASSETS ................... ..........................
61
INDEX (Cont'd)
SEWER RENTAL FUND:
BALANCESHEET ....... .............. ...........................PAGE 62
STATEMENTOF SURPLUS ........... ............................... 63
'F STATEMENTS OF INCOME AND EXPENSE .............................. 64
ANALYSIS OF CHANGES IN CASH BALANCE ........................... 65
LIQUOR DISPENSARY FUND:
BALANCESHEET .................. ............................... 66
STATEMENT. OF SURPLUS .................... . ... ...... .... o....... 67
STATEMENTOF INCOME AND EXPENSE ............................... 68
..
OPERATING EXPENSES .... . ......... ....o.......... .... ......... 69
FIXEDASSETS, ... o.o ...... o .... o.osevoo.000,00000000000000000*0000 70
GENERAL SCHEDULES:
SUMMARY OF CASH RECEIPTS AND DISBURSEMENTS....... ...... 0 ...... 71
ANALYSIS OF OPERATING EXPENSES AND CAPITAL OUTLAY.............. 72
CASH— ALL FUNDS ............... ...e...................e......e 73
SECURITY FOR DEPOSITS... ....... 74
INVESTMENTS............ ......... ...........................e... 75
TAXABLE VALUATIONS, TAX LEVIES AND RATES ......... 0 ..... 0....... 76
ORGANIZATION.,......ee
. s o e ... e e o e e o 0 o e s o . e e o o . s . s i o o . o . o ore s o o e e 77
OFFICIALBON DS ...... .........'...o . o o o o o o o ...... . o o o .. o. o o .. . o.. 78
MUNICIPALCOURT FINES., ......... o..0000*oe***0000000a&o**aoo&* 79
INSURANCE. ..... .. e .............. .e.o..e..e...o.....e.e........e 80
�
ACCOUNTANTS1 REPORT
To the Village Council
Village of Edina, Minnesota
We have examined the balance sheets of the various funds of the Village
of Edina, Minnesota, as'of December 31, 1957 and the related statements of cash
receipts and disbursements or income and expense and surplus for the year then
ended. Our examination was made in accordance with generally accepted auditing
standards, and accordingly included such tests of the accounting records and such
other auditing procedures as we considered necessary in the circumstances.
In our opinion, the accompanying balance sheets and statements of cash
receipts and disbursements, income and expense and surplus present fairly the
financial position of the Village of Edina.at December 31, 1957 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.
Minneapolis, Minnesota
May 22, 1958
Public'Examiner
State of Minnesota
T
Certified Public Accountants
-3-
FUND BALANCE SHEETS
VILLAGE OF EDINA
December 31, 1957
ASSETS
Cash:
t Current funds
Appropriated
Investments:
United States Government Securities -
et face value or cost
Village of Edina improvement bonds
at cost
Amounts segregated and shown below
Receivables:
Taxes and special assessments:
Current
Delinquent
Deferred
Customers
Due from other funds
Miscellaneous receivables
Less allowance for delinquent taxes
Inventories
Prepaid expenses
Segregated sbcurities for reserve for debt
retirement and construction commitments
Construction in progress
Fixed assets
Unallocated construction cost
i
F u n d s
Park Park Sewer Liquor
Total General Poor Park Sinking Construction Improvement Waterworks Rental Dispensary
20,9.17785. $ - 11,729.78 $ 499.47 $ 1,856.29 ( 9,267.69) $ 19215.07 14,884.93
11L.826.92 - S-14,093.22 8 82,319.78. 159413.75
$ 132,744;.77 $ 11,729.78 $ 499.47 $ 1,856.29 — $ 14,093.39 $ 829,319.78 6,146.06 $ 19215.07 14,884.93
1,760,970.64 889500.00 16,000.00 200,000.00 19311,500.00 75,082.97 15,089.16 54,798.51
393,000.00 96,000.00 297,000.00
( 31,371.25) ( 31,371.25)
885,297.11 42,000.00 8439132:36 164,75
112,364.39 $ 6,892.50. 351.59 105,120.30
59081,489.68 " 1,1739000.00 3,908,489.68
34,441.48 r $ 260217.00 8,224.48
439,194.95 150,687.09 39500.00 $ 6,622.55 2709921.58 6,463.73 1,000.00
6;916.23 - 3,290.87 19.77 150,00 3,298.38 157.21
6,559,703.84 160,870.46 371.36 3,650.00 $1,2159000.00 $ 90920.93 $59127,663.92 $ 32,837,94 $ 99389.23 -
429,099.07 6,892.50 .351.59 79:750.00 . 342,104.98
$ 6,130,604.77 $ 153,977.96 $ 19.77 $ 3,650.00 $1,135,250.00 $ 9,920.93 $4,785,558.94 .$ 32,837.94 $ 9,389.23 $ -
154,378.68 6,870.38 147,508.30
6,870.65 1,000.00 4,85/+•35 185.81 830.49
31,371.25 31,371.25
2,200,410.12 2,1989619.52 1,790.60
3,932,743.10 988;794.03 156,988.16 398,939.14 2000,794.23 139987.71 73,239.83
49,700.35 49,700.35
$14,761,423.08 $1,244,001.77 $16,519.24 ,$162,494.45 $1,135,250.00 $7189953.46 $8,729,552.94 $2,423,707.99 $39,681.17 $291,262.06
-4-
'4
V6
FUND BALANCE SHEETS (Cont'd)
LIABILITIES, RESERVES AND SURPLUS
Due to other funds
Accounts payable
Salaries and wages
Canceled assessments refundable
Due to Hennepin County
Interest payable
Watermain and sewer connection deposits
Edina Firemen's Relief Association
Construction contracts
Minneapolis —Saint Paul Sanitary District
Unexpended contributions
Reserve for future bond interest
Bonds payable
Reserve for assessment adjustments
Reserve for construction.
Reserve for authorized expenditures
Surplus:
Invested in fixed assets
Appropriated:
For imprest cash
For debt service
For improvements
Unappropriated
( ) Indicates deduction.
350.00 350.00
46,760.00 46,760.00
199850.00 19,850.00
605;530.29 126,236.25 16,509:24 ' 175.50) 1,652.62 159,159.71 65,811 ,,4 6,791.07 2029515°74
$14,761,423.05 $1,244,001.77 $16,519.24 $162,494.45 $1,135,250.00 $715,953.46 $5,729,552.94 $2,423,707.99 $39,651.17 $291,262.o6
-5-
F u
n d
s
Park
Park
Sewer
Liquor
Total.
General....
Poor Park
Sinking
Construction
Improvement
Waterworks
Rental
Dispensary
439,194.95
45.1312.6o
55.17
6,567.38
$ 387,003.70
$ 256.10
.
.111,930.79
49,580.43 $
10.00 ' 2,019.01
-
$ 20,563.63
1,8281.00
$ 5,443.54
189472.05
14,014.13
4,197.68
1,648.36
629.20
256.52
174.24
1,489.36
9,936.54
9,936.54
10,296.85
10,296.85
679917.41
65,065.75
2,851.66
22;575.65
760;'00
21,815.65
9,849.30
9,849.30
592;301°1.9
592,301.19
179697.84
17,697.84
4,602.51
1,620.80
2 ' 951.71
427,030.00
427,030.00
8,287,000.00
700,000.00
7,253,000.00
334,000.00
156,158.85
156,158.88
156065.52
131,io6.69
25,258.83
168`,344.00
165,344.00
3,6009533.70
9555794.03
156,958.16
395,939.14
1,965,584.53
13,957.71
73,239.53
350.00 350.00
46,760.00 46,760.00
199850.00 19,850.00
605;530.29 126,236.25 16,509:24 ' 175.50) 1,652.62 159,159.71 65,811 ,,4 6,791.07 2029515°74
$14,761,423.05 $1,244,001.77 $16,519.24 $162,494.45 $1,135,250.00 $715,953.46 $5,729,552.94 $2,423,707.99 $39,651.17 $291,262.o6
-5-
COMMENTS
This report on an examination of the financial affairs of the Village of
Edina covers the year ended December 31, 1957. In addition, such previous years
were included in the period of examination as were necessary to investigate such
financial transactions as came to our attention.
The examination was conducted jointly by the firm of Ernst& Ernst,
Certified Public Accountants, and the Department of Public Examiner, State of
Minnesota in accordance with the request of the Village Council.
�. The following comments relate to the activities of the various funds of
the Village:
COMMENTS ON FINANCIAL STATEMENTS
GENERAL FUND
Reference is made to detailed schedules elsewhere in this report as to
operations of this fund. Such details appear on pages 23 to 32..
POOR FUND
Reference is made to detailed schedules elsewhere in this report as to
operations of this fund. The details appear on pages 33 to 35.
PARK FUND
Reference is made to detailed schedules elsewhere in this report,as to
operations of this fund. The details appear on pages 36 to 41. Expenditures and
income may be summarized as follows:
Operations:
Expenses '61,370.46
Revenues 40.537.74
Deficit from operations $ 20,832.72
Capital outlay:
Provided by contribution_..from General Fund 40,258.75
Expended 11.132.37 29,126.38
Surplus additions for 1957 $ 89293.66
Deficit at January. 1, 1957 8.472.46
Deficit at December 31, 1957 $ 178.80
PARK SINKING FUND
Reference is made to detailed schedules elsewhere in this report as to
the operations of this fund. The details appear on pages 42 to 45.
PARK CONSTRUCTION FUND
Reference is made to detailed schedules elsewhere in this report as to
the operations of this fund. The details appear on pages 46 to 49. Transactions
for this fund are summarized as follows:
Advance from Park Sinking Fund $700,000.00
Purchases of park properties $2739505:20
Park construction work in process 1259433.94
Transferred to reserve for authorized expenditures 168,344._00
Cost of bond sales _ 1.610.17 568,8
Reserve for construction - Balance at December 31, 1957 $131,106.69
-6-
IMPROVEMENT FUNDS
To facilitate the accounting for construction costs the Council
established the Construction Fund as of December 31, 1951 to which is transferred
the proceeds of bonds sold for construction or improvement purposes.
The cash balance of the Construction Fund and the advances from other
ti funds are analyzed and summarized as follows:
Construction Cash
Net in Progress Available for
Advance Current Construction
Improvement funds:
1950 Second Series
1952 First Series
1953 First Series
Sanitary Sewer No. 53
1954 First Series
1954 Second Series
Improvement Bond Redemption
Temporary Improvement
Other funds
Due from other funds:
Permanent Improvement
Revolving
General
Due to General fund
684,087.05
._34,348.87
NET TOTAL DUE TO OTHER FUNDS
Construction costs (to be assessed):
Unallocated
Other unallocated costs
$ 1,036.36
8,055.99
3,507.76
2,070.14
4,685.92
64,850.34
19,153,283.80
510.809.35
1,748,299.66
150,000.00
1189435.92#
430.99
$19780,294.73
$ 177.92
607.96
17,542.74
800,799.22
610.541.13
1,429,668.97
176,649.36
$1,606,318.33
$ 1,036.36
7,878.07
3,507.76
2,070_14
4,077.96
47,307.60
352,484.58
99,731.78#
318,630.69
150,000.00
118,435.92#
430.99
176,649.36#
738.25#
Cash provided:
Watermain and sewer connection deposits 21,815.65
Transfer from General Fund representing
balances in closed special assessment funds:
Cash $ 18,758.83
Investments 6,500.00 25,258.83
Balance at December 31, 1957 $220012.63
Represented by:
Cash $ 16,312.63
Investments 204,000.00 $220,312.63
* Indicates red figure.
-7-
IMPROVEMENT FUNDS (Cont',d)
Analysis of the unencumbered cash provided from bond sales of various
Improvement Funds is presented in the following.schedules:
Proceeds from bond sales re-
tained by the Improvement
Funds 346,706.70(A) 2,530.41 767.85 8,637.67 25.000.00 20,472.07
Unencumbered balance at
December 31, 1957 $ 73,036.20 $2,.530.41 $1,036.36 $767.85 $8,637.67
# Indicates red figure.
Note A - Proceeds from sale of bonds retained by the Improvement Funds
are invested in government and village securities, and are
included pith investments on the balance sheet.
.10,481.28 22,577.00 9,011.37 221,066.82 19,162.23
$32,878.07 $239979.834 21070.14 $10,481028 $33,159.97' $51,941.85 $
10 „025.25 $ 104,472.48#
U
1952
1953
1950
1951
Improvement
Improvement
1954
Improvement
Improvement Funds
Improvement Funds
Fund
Fund'
Sanitary
Southdale
Improvement Funds
Bond
Temporary
First
Second
First
Second
First
First
:.Sewer
Improvement
-First
Second
Redemption
Improvement
Total
Series
Series
Series
Series
Seri.es..
Series,
No. 53
Fund
:Series_
Series
Fund'
Fund
Balance of advances at
January 1, 1957
800,433.73
-
$1,036.36
.-
193.16#
$
8,055.99
$ 3,507.76
$2;070.14
-
$ 4,685.92
070,563.91
710,706.81
-
Additions:
Proceeds from bond sales
transferred
$1,7809000.00
$19200,000.00
580,000.00
Cash transfer to eliminate
deficit in Fund.
193.16
193.16
$1,780.193.16
$ -
193.16
$.
$ -
-
-
1 200 000.00
580.000.00
9
295809626.89
$ -
1,036.36
-
$ -
$
89055.99
3,507.76
$2,070.14
4,685.92
70956371
19910,706.81
580,000.00
Deductions:
Construction costs trans-
ferred during 1957
832.327.2-3
5,713.57
757,423.01
69,190.65
Balance of advances at
December 31, 1957
$1,7489299.66
$19036.36
-
-
8;055.99
$ 39507.76
$29070.14
-
$ 49685..92
$64,850.34
$1,153,283.80
$ 5109809.35
Less construction in progress
current.at December 31, 1957
1,429,668.97
177.92
607.96
17,542.74
800,799.22
610,541.13
Cash available for
construction
$ 318,630.69
$ -
$1,036:36
$ -
$ -
$
7,878.07
$ 39507.76
$2,070.14
$ -
$ 4,077.96
$47,307.60
$ 352,484.58
$ 99,731.78#
Less construction in progress
deferred at December 31, 1957 592,301,.19
494.99.
4,37742
563,526.15.
23,902x93
Overage or deficit* in funds
transferred to Construction
Fund
$' 273,670.50#
$. - .
$1,036.36
$ =
$ -
$
7,878.07
$ 3,507.76
$29070.14
$ -
$ 39582.97
$429930.48
$ 2119041,57*
$ 1.23,534.71
Proceeds from bond sales re-
tained by the Improvement
Funds 346,706.70(A) 2,530.41 767.85 8,637.67 25.000.00 20,472.07
Unencumbered balance at
December 31, 1957 $ 73,036.20 $2,.530.41 $1,036.36 $767.85 $8,637.67
# Indicates red figure.
Note A - Proceeds from sale of bonds retained by the Improvement Funds
are invested in government and village securities, and are
included pith investments on the balance sheet.
.10,481.28 22,577.00 9,011.37 221,066.82 19,162.23
$32,878.07 $239979.834 21070.14 $10,481028 $33,159.97' $51,941.85 $
10 „025.25 $ 104,472.48#
U
IMPROVEMENT FUNDS (Cont'd)
Unallocated construction costs in the amount of $49;700.35 represent
constructions costs in excess of the amount assessed. The amount of $25,235.80
is to be recovered by connection charges to future lateral sewers and watermains
which will be serviced by the Southdale sewer trunk and water district. An
amount of $239726.30 represents assessments for which certification has been
deferred; $14,329.10 until connection with the water trunk; and the balance of
$9,397.20 deferred pending the outcome of the cross-town highway project. The
balance of unallocated construction costs, $738.25, represents actual unallocated
costs and will be paid by the respective Improvement Funds when project numbers
are assigned.
The reserve for assessment adjustments represents the excess of assess-
ments 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
Redemption 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.
The Village maintains its own Engineering Department to provide engineer-
ing services principally for improvement projects, the cost of which is to be
assessed against benefited property owners.
In determining the cost to be assessed a fixed percentage of eight per
cent for engineering expense (6% prior to 1955) and two per cent for clerical
expense based on the contract cost is included. We were questioned as to the
propriety of such a charge.
In an opinion dated April 9, 1957, the Attorney General said:
".....There is no objection to the percentage formula
provided the sums charged pursuant thereto are not in
excess of the reasonable value of the services
rendered. If any of the fixed percentage fees are
arbitrary, they are objectionable....."
-9-
ti
IMPROVEMENT FUNDS (Cont'd)
A summary of engineering expenses and other amounts charged to improve-
ment projects and other departments is shown in the following statement:
Operating expenses:
Salaries
Office supplies
General supplies
Photos and blueprints
Aerial survey
Mileage
Repairs
Stakes
Equipment rental
Professional services
Miscellaneous
Replacement of
equipment
Less amount charged to
assessed projects and
other departments
NET INCOME -LOSS#
Year Ended December 31,
Total 1957 1956 1955 1954 1953
$265,211 $62,912 $629230
2,419
46
300
29646
694
258
.3,183
512
1,134
119200
6,400
49800
39812
177
868
946
276
325
29917
905
661
455
3.0%
23.0%
139772
10,334
160
591
4.5%
296
$3079152
$829256
$719032
$55,481 $52,262 $32,326
495 978 600
251 858 585
851 514 172
19119 898 750
121 100 124
966 385
180 275
2,620 658
109 101
$62,013 $56,934 $34,917
12,989 1,279 3.658 4.738 1.835 1.479
$320,141 $839535 $74,690 $669751 $589769 $369396
321,938 91,718 . 763733
$ 19797 $ 8,183 $ 2,043
95.732 31,352 26,403
$289981 $27,417# $ 9,993#
WATERWORKS FUND
The operations of the fund are shown in detail in a separate schedule
and are summarized as follows:
Gross income
Expenses:
Pumping
Distribution
Tanks and towers
Water treatment
Vehicle operation
Administrative and
general
TOTAL OPERATING EXPENSES
OPERATING INCOME
Other income
Other deductions
1957 -1956
$1299831.98 $133,288.47
$ 339095.07 $
279483.80
539921.21
449076.24
109125.78
99316.96
7,094.67
2,318.95
3,914.28
1,394.81
17,806.17 - 18.083.40
$125.957.18 $102.674.16
$ 3,874.80 $ 309614.31
11914.08 '2.658.62
$ 5,788.88 $ 33,272.93
8.808.13 9.727.10
Per Cent to
Increase Gross Income
Decrease* 1957 1956
$ 3',456.49# 100.0% 100.0%
$ 59611.27
25.5%
20.6%
99844.97
41.5
33.1
808.82
7.8
7.0
4,775.72
5.5
1.7
2019.47
3.0
.6
277.23#
13.7
14.0
$23.283.02
97.0%
77.0%
$26,739.51#
3.0%
23.0%
744.54#
1.5
2.0
$27,484.05#
4.5%
25.09
918.97# 6.8
NET INCOME (LOSS) ($ 3,019.25)$ 23,545.83 $26,565.08# ( 2.3 %) 17.7%
-10-
WATERWORKS FUND (Cont'd)
Details of operations are shown on pages 55 and 61. The principal reasons
for the decrease in net income may be summarized as follows:
Decrease in income:
Water sales
Decrease in other items of income
Less increase use of hydrant and meter sales
Increase in expenses:
Pumping
Distribution
Tanks and towers
Water treatment
Vehicle operation
Administrative
Decrease in income from investments
Less decrease in miscellaneous deductions
$5,342.29
830.25
NET DECREASE IN REVENUE
Other
Depreciation Maintenance Costs
$1,582.14 $69848.29 $29819.16#
69229.99 243.33# 3,858.31
500.01 - 308.81
267.77 - 49507.95
269.01 2,250.46
60.96 52.90# 285.29#
$8,909.88 $6,552.06 $7,821.08,
DECREASE IN NET INCOME
$ 6,172.54
2,716.05
$ 3,456.49
23,283.02
$26,739.51
27,484.05
918.97
926.565.08
# Indicates reduction
Attention is directed to the increase in most of the costs and expenses
while the gross income showed a decrease. Details of the changes in the various
categories are included in the accompanying schedules elsewhere in this report.
SEINER RENTAL FUND
The-operations for the year, shown in a separate schedule, are
summarized as follows: Per Cent
to Billings
1957 1956
100.0% 1001.0%
Billings
Expenses:
Operating
Vehicle operation
Administrative and general
Unallocated
OPERATING INCOME -LOSS#
Other income
NET INCOME -LOSS#
Increase
1957 1956 Decrease*
$59,379.39 $37,992.95 $219,386.54
$52,675.16 $31,293.85 $219381.31
2,714.40 498.26 29216.14
59440.34 2,921.50 2,518.84
500.00 500.00#
160,82-9.90 U5,211.6-1 25..616.29
$ 19450.51# 29779.24 49229.75
88.7%
82.4%
4.6
1.3
9.2
7.7
102.
1.
2.
2.5%#
7.3%
404.48 342.49 61.99 -7 -9
$ 19046.03 *$ 3,121.73 $ 49167.76 1.8%# 8.2%
Details of the operations of this fund are given in pages 62 to 65 of this
report. Major increases occurred in sewer maintenance, operating labor, repairs,
vehicle operation and clerical costs, and the attention of the Council is directed
thereto.
-11-
LIQUOR DISPENSARY FUND
The detailed statements of income and expense for the calendar years 1957
and 1956 are shown in separate schedules and' are summarized as follows:
Sales
Cost of goods sold
GROSS PROFIT
Operating expenses
OPERATING INCOME
Other income
Loss on abandonment of leasehold
NET INCOME
Year Ended December 31,
1957 1956
$800,557.21 $612,928.28
602.403.71 465,123.74
$198,153.50 $147,804.54
66,818.23 45,832.33
$131,335.27 $101,972.21
4,264.37 1
135,599.64 103,566.94
3,632.83
Increase
$187,628.93
137,279.97
$ 50,348.96
20.985.90
# 29,363.06
2 66 .
32,032.70
3,632.83
$131,966.81 $103,566.94 $ 28,399487
The factors contributing to the increase in net income can be summarized
as follows:
Increase in gross profit from:
Increase in sales volume
Increase in gross profit percentage
Less increase in operating expenses:
Salaries and wages
Provision for depreciation
Repairs and maintenance
Insurance
Utilities
Supplies
Laundry
Professional
Rent
Taxes and licenses
Advertising
Miscellaneous
Add increase in other income:
Cash discounts
Cash over
Income on investments
Other
Deduct loss on abandonment of leasehold
INCREASE IN NET INCOME
* Indicates red figure.
50th Street Southdale ..Combined
$ 21138.92' $ 52,138.08 $ 49,999.16
2 .62# 3A9.80
804.50 6 49,544.46 0 50,348.96
$ 2,131.51 $ 11,225.56 $ 139357.07
265.96
1,524.99
4790.95
19125.71#
283.60
842.11#
124.40#
124.32
.08*
339:72
728.25
19067.97
243.82#
85.95
157.87#
71.65
18.93
90.58
11.25#
150.00
138.75
4,944.44
4,944.44
138.34
10.50
148.84
346.00
86.40
432.40
8.10# 113.06 14.96
1.689.90 1 2 6.00 9 20,985.90
885.40 #. 30;248.46 29,363.06
$ 2,875.64 $ 864.08 $ 3,739.72
212.70# 8.11 204.59#
840.49# 840.49#
25.00* 25.00*
1,797.45 872.19 T 2,669.64
3,632.83 3,632.83
$ 912.05 $ 27,487.82 $ 28,399.87
-12-
LIQUOR DISPENSARY FUND (Cont'd)
Cash balances decreased $14,023.18 for the year and may be accounted as
follows:
Cash funds applied:
Transferred to General and Park Funds $ 63,423.00
Fixed assets purchased 8,893.58
Investments purchased 54,798.51
Decrease in due to other funds 131.10
Increase in inventory 34,822.13
Cash funds provided:
Net income
Provision for depreciation
Increase in accounts payable
Increase in accrued pay roll
Decrease in accounts receivable
Decrease in prepaid expense
1957.
$162,068.32
$135,599.64
5,038.14
1,700.57
305.71
5,132.84
268.24 148,045.14
NET DECREASE IN CASH $ 14,023.18
Investments balance increased by $54,798.51 for the year ended December 31,
Gross profit percentage for the past three years are as follows and are
taken from the operations of the 50th Street Store only:
Liquor
Wine
Beer
Mix and miscellaneous
Total
1957 1956 1955
24.72% 23.97% 23.65%
29.98 30.46 31.75
19004 18.70 20.21
22.18 24.71 22.29
24.45 23.92 23.88
During the year the Liquor Dispensary Fund.made transfers of $11,658.75 and
$1,764.25 to the Park Fund and.Park Construction Fund respectively. We believe it would
be advisable that transfers from operating funds to other funds be effected by a trans-
fer to the General Fund surplus and an appropriation be made from that surplus to such
other funds.
We were asked what the cost was of moving the Southdale Liquor Dispensary
from one location to another.
On September 9, 1957 a contract was let for work at the new location at a
bid price of $7,300.00. Such contract covered the removal of items from the old store;
reinstalling in the new space; removal of partition in the new store; furnishing and
installing display shelving, gondola shelving, half -pint display case, cash register
stand, walk -in cooler. coils and condensing unit, using present walk -in door, and tak-
ing present compressor and coils on trade -in, backroom partition, and panelling on
upper walls.
In addition to the above contract, a check -out counter was installed at
a cost of $475.00 and electrical work amounting to $761.80 was done. The total cost
of such improvements amounted to $8,536.80.
-13-
LIQUOR DISPENSARY FUND (Cont'd)
We were informed that the stock was moved to the new location by regular
Village employees and representatives of various liquor distributors on a Sunday
at no additional cost to the Village, with the exception of the use of the Village
pickup truck and the salary of one employee who works on a part time basis.
Leasehold improvements at the old location having a book value of $3,632.83
were written off.
We were also asked to determine if there were any restrictions on the use
of profits from the liquor dispensary, and what disposition had been made of such
profits.
Ordinance No. 131 providing for the establishment and the operation of a
municipal liquor dispensary does not restrict the use or distribution of such profits.
Net income and the disposition thereof for the five years ended December
31, 1957 is shown'in the following statement:
Net income for the year ended
December 31:
1953 84,673.25
1954 87,369.15
1955 1009275.97
1956 103,566.94
1957 131.966.81
TOTAL $507,852.12
Disposition of net income:
Transfers to other Village funds $475,509.50
Retained to increase Liquor
Dispensary:
Fixed assets 19,875.10
Working capital 12,467.52
TOTAL $507,852.12
GENERAL
In addition to the foregoing comments on financial statements the follow -
ing comments are pertinent to certain matters developed during the course of the
examination:
TRAVEL EXPENSE TO INTERNATIONAL CITY MANAGERS CONVENTION
We were asked to determine what, if any,.authorization was given to
Warren C. Hyde, the Village Manager, to attend the International City Managers
Convention in Washington, D. C. in the fall of 1957.
Authorization for Mr. Hyde to attend this convention can be inferred
from the Council's action when it approved a claim for an advance payment of Mr.
Hyde's travel expenses to the convention.
TRAVEL EXPENSE TO INTERNATIONAL CITY MANAGERS CONVENTION (Cont'd)
Mr. Hyde explained that he drove a Village car to this convention and
that two other employees, George Hite and Donald Brauer,accompanied him at their
own expense except for the registration fee. Mr. Hyde said that his employment
agreement with the Village provided for his attendance at such conventions at
the expense of the Village.
'r
ADVANCES FOR TRAVEL EXPENSE
Besides the previously mentioned advance of travel expense in connection
with the City Managers Convention, advances of $75.00 each were made to two
instructors in the park recreational program to cover expenses to be incurred at
a tennis tournament at Salt Lake City. Claims filed in support of these payments
stated that the amount advanced was to be repaid by the Edina - Morningside Lions
Club. The amount of.$150.00 was reimbursed to the Village by that Club on May 12,
1958.
We were informed that the Club had agreed to pay these expenses but Club
officials were not available to sign the checks, therefore, the money was advanced
by the Village.
No statutory authority could be found for advancing Village funds in
this manner.
TRAVEL EXPENSE NOT ITEMIZED
In June, 1957 $150.00 was advanced to the Chief of Police to cover the
expenses of five police officers to the.State Pistol Shoot.
Advances of $335.00 and $165.00 were also made to cover the travel
expenses of employees at The Traffic Institute of Northwestern University and
the Northwestern University Traffic Court..
Statements of actual and necessary expenses'�incurred for the advances
of $150.00 and $335.00 were submitted during the course of this examination.
In addition to calling attention to the absence of any statutory
authority for advancing Village funds for travel expense, it is recommended that
detailed, itemized claims for actual and necessary expenses be filed.
ACQUISITION OF PARK PROPERTY - SWIMMING POOL SITE
We were requested to,furnish information concerning the property acquired
for the site of the new swimming pool.
At the meeting of the Council held June 5, 1957 the Council accepted
dedication of real estate by the Dayton Brothers involving 15 acres of land adjoin-
ing Lake Cornelia and 9.2 acres of the lake itself. The Council also authorized the
purchase of 10.4 acres of land and 29.2 acres of lake area from the Southdale Realty
Company and the Fourth Addition Company at a total cost of $50,000.
-15-
ANNUAL FINANCIAL STATEMENT NOT PUBLISHED
Annual financial statements for the years 1954, 19559 1956 and 1957 were
not prepared and published as provided for in M.S.A. Section 412.281, which reads
in part:
"....the clerk shall prepare a detailed statement of the financial
affairs of the village for the preceding year, showing all money
received, with the sources and respective amounts thereof; all
disbursements for which orders have been drawn upon the treasurer,
to whom and for what purpose ;.... The amount of money remaining
` in the treasury; also all other items necessary to show accurately
the financial position of the village.... The clerk shall file
the statement in his office for public inspection and present it
to the Council not later than February 15. He shall publish the
statement not later than the last day of February in a newspaper
published in the village... If Council proceedings are published
monthly or quarterly showing to whom and for what purpose orders
are drawn upon the treasurer, the annual financial statement
required by this section may be summarized....."
Prior to the enactment of Laws 1957, Chapter 11, the dates for presenting
the statements to the Council and for publishing were January 15 and January 31,
respectively. A statement for the year 1954 was published on March 17, 1955 in
summarized form, instead of in the detail Section 412.281 requires. During a
portion of the year 1955 Council proceedings were published which included a listing
of the orders issued. However, an annual statement for' that' year Was' not prepared and
published either in detailed or summarized form. Examiners were informed that publi-
cation of the annual financial statement was discontinued because of the cost thereof.
PARK BOND ISSUE ELECTION EXPENSE
The following expenditures were charged to park election expense incurred
in connection with a bond issue which was voted on February 5, 1957:
12,000 brochures
Aerial photographs
Movie films and slides
$225.00
25.00
17.00
We were informed that the aerial photographs and movie films and slides
were used at public meetings to inform voters of the plans to provide parks for the
community.
The brochures contained information regarding the Edina Park Plan and the
estimated cost to the individual taxpayer if the voters approved the bond issue.
Also included in the brochure was a letter from the Village officials iri which they
expressed the hope that the voters would vote favorably on the issuance of park bonds.
The Attorney General when asked to rule on a question regarding the expendi-
ture of public funds to. disseminate information about a proposition that was to be
decided by a vote of the people, referred to 15 McQuillin Municipal Corporations
3rd ,ed. sec. 39.21, where the statement is made that "expenditures have been held
unauthorized for advertising to bring about a favorable vote upon a proposed bond
issue ".
-16-
OFFICIAL BONDS
Clerk of Municipal Court
The bond furnished by Margaret Lindberry in the amount of $1,000.00 dated
April 18, 1955 covering-the period from March 22, 19.55 to March 22, 1957 was filed
with the.Village Clerk-Treasurer.
No record of a bond covering the period from March 22, 1957 to March 22,
1958 could be found.
A bond dated March 22, 1958 in the amount of $1,000.00 was filed with
the Secretary of State.
M.S.A. Section 488.11 reads in part:
"...Every clerk... shall give bond to the state in at least
the sum of $1,000...."
M.S.A: Section 488.03 provides:
"The ... bonds..of all ... clerks of municipal courts... shall...
be filed with the Secretary of State."
Clerk- Treasurer
Gretchen S. Alden was appointed Clerk-Treasurer on September 12, 1955.
Mrs. Alden did not furnish a bond covering the period from September 12, 1955
to February 13, 1958.
M.S.A. Section 412.111 provides:
"The council may require any officer...to furnish a bond conditioned
for the faithful exercise of his duties and the Proper application
and payment upon demand of all moneys by him officially received,
...The bonds furnished by the clerk, treasurer... shall be corporate
surety bonds." (Emphasis supplied)
In an opinion dated February 4, 1952 the Attorney General held that the
provisions of the aforementioned section require the Clerk and the Treasurer to
furnish a bond.
The bond furnished by Mrs. Alden in the amount of $5,000.00 effective
February 13, 1958 contains the following proviso:
"Provided however, that the above named Surety shall not be liable for
the loss of any public funds resulting from the insolvency of any
bank or banks in which said funds are deposited;'and, if this provi-
sion shall be held void, this entire bond shall be void."
M.S.A. Section 412.111 has no provision which permits a village to obtain
a bond containing restrictive qualifications with respect to the conditions under
which the penalty would be paid by the surety.
• A new bond has since been obtained which eliminated the above quoted
proviso.
-17-
SECURITY FOR DEPOSITS
Balances on deposit with the First Edina National Bank and the Midland
National Bank at December 31, 1957 and the security for these deposits are shown
in the following statement:
First Edina Midland
National Bank National Bank
Balance on deposit $289,085.35 $635,918.39
Security for deposit -
Collateral $200,000.00 $ 50,000.00
Federal Deposit Insurance 10,000.00 10,000.00
Total security for deposits $2109000.00 $ 60,000.00
We were informed that the large balance at the Midland National Bank
was due to the deposit of the proceeds from the sale of Temporary Improvement Bonds
totaling $600,000.00. Investments totaling $498,620./#2 had been ordered on
December 31, 1957 but the account was not charged until January 2, 1958. In
addition a transfer check in the amount of $100,000.00 to the First Edina National
Bank did not clear until January 2, 1958•
M.S.A. Section 118.01 provides:
"At no time shall the treasurer maintain a deposit in any depository
against collateral in excess of 90 percent of the market value thereof."
A certificate of deposit dated March 1, 1958 was purchased from the
Citizens State Bank of St. Louis Park. Collateral securities totaling $100,000.00
were pledged to secure these deposits as shown by the safekeeping receipt issued
by the Marquette National Bank. However, an assignment of these securities to the
village as required in M.S.A. Section 118.01 was not made until May 1, 1958.
CHRISTMAS LIGHTING
The following payments were made during the year ended December 31, 1957
to the Edina Chamber of Commerce:
Purpose Claim No. Date Amount
Participation for 1956 5955 April 8, 1957 $100.00
Dues and Christmas Lighting
for year 1957 7422 November 25, 1957 $200.00 r
We were informed that part of these payments covered the 50th Street
Liquor Store's share of the cost of Christmas lighting and other expenses in the
50th Street and France Avenue area.
In an opinion dated January 3, 1958 the Attorney General answered in the
negative the following question:
"May the Village.... legally donate out of village funds any money
for the maintenance and upkeep of the said Christmas lights and
decorations ?"
When asked regarding the expenditure of village funds to pay dues to the
Chamber of Commerce, the Attorney General, on February 24, 1949, said:
"The - village possesses only such powers as are conferred upon it by
statute. There is no power conferred upon a village to join or pay
dues to a local Chamber of Commerce...."
-18-
CONTRACT FOR DEED FOR PURCHASE OF LAND
On November 28, 1955 the Council authorized the purchase of Lots 8, 9, 10,
11 and 12, Block 18, Fairfax addition, from Sophie Stenson at a cost of $3,600.00.
According to the minutes $800.00 was to be paid Miss Stenson on December 15, 1955
and the balance of $2,800.00 was to be on a contract for deed. Contract payments
of $700.00 plus interest at 5 per cent were to be made on December 15, 1956, 1957,
1958 and 1959•
The following payments have been made to Miss Stenson:
Check No.
Date
Principal
Interest
2706
January 12,
1956
$800.00
Amount
5244
December 12,
1956
700.00
$128.37
7601
December 31,
1957
700.00
109.38 '
In an opinion
dated March 1,
1955
the Attorney General
said:
"The village code M.S. 1953, C.412, gives no authority for the
purchase of real property on an installment basis..... The
purchase of real property on the installment plan would create
an indebtedness by the village. It therefore comes within the
purview of C.475 relating to public indebtedness, the provisions
of which must be strictly complied with."
However; it should be pointed out that the provisions of Laws 1957,
Chapter 718 now permit payment, at the option of the seller, to be made in not
more than four annual installments without interest on the deferred installments.
CONTRACTS IN EXCESS OF $500.00 NOT AUTHORIZED BY COUNCIL
Purchases of equipment or
which no authorization was found in
of the claims for payment, were as
Purpose
Mower with engine
1949 Ford pickup
Electrical work at
Halifax pumphouse
Culverts
2 8 foot Swenson
material spreaders
payments for services in excess of $500.00 for
the minutes of the council, prior to approval
follows:
December 30, 1957 7554 885.07
We were informed that after the enactment of Laws 1957, Chapter 429, which
increased from $500.00 to $1,000.00 the amount that can be spent for-the purchase of
equipment or construction work without advertising for bids, it was assumed that it
was not necessary to have council approval of contracts under $19000.00. However,
the abovementioned law did not amend M.S.A. Section 412.691 which provides:
"...All purchases for the village and all contracts shall be let
by the village manager when the amount of the purchase or contract
does not exceed $500;... All other purchases shall be made and
all other contracts let by the council after the recommendation of
the manager has first been obtained."
-19-
Claim
Date of
Payment
No.
Amount
July
18,
1957
6501
$825.00
July
22,
1957
6587
551.00
August
12,
1957
6744
725.00
October
14,
1957
7072
549.01
December 30, 1957 7554 885.07
We were informed that after the enactment of Laws 1957, Chapter 429, which
increased from $500.00 to $1,000.00 the amount that can be spent for-the purchase of
equipment or construction work without advertising for bids, it was assumed that it
was not necessary to have council approval of contracts under $19000.00. However,
the abovementioned law did not amend M.S.A. Section 412.691 which provides:
"...All purchases for the village and all contracts shall be let
by the village manager when the amount of the purchase or contract
does not exceed $500;... All other purchases shall be made and
all other contracts let by the council after the recommendation of
the manager has first been obtained."
-19-
CONTRACTS IN EXCESS OF STATUTORY LIMITS
MADE WITHOUT ADVERTISING FOR BIDS
On April 22, 1957 a payment of $2,106.23 was made to the Oscar Roberts
Company for the purchase of binder rock.
Mr. Hyde, Village Manager, stated
that the rock was
needed immediately
in order to keep certain streets
in a useable
condition. For
that reason the
' material was ordered on an emergency basis
without advertising
for bids. Mr.
Hyde informed us that he contacted a neighboring municipality
to ascertain prices
. it was paying and that prices received
from
Roberts was lower
than the neighboring
- municipality paid on formal bids.
The following contract
was let and
payments made to
the Allen Hart
Excavating Company for rent of a
bulldozer
and the purchase of
black dirt without
advertising for bids:
Claim
Bulldozer Rent
Black Dirt
Date
No.
$13.50 an Hour
$1.30 a,Yard
August 20, 1957
6786
654.75
1,573.00
September 9,1957
6856
425.25
2,561.00
September 23, 1957
6933
708.75
936.00
October 9, 1957
7121
857.25
91.00
TOTAL
$2,646.00
$5,161.00
We were informed that prices had been solicited from various contractors
and that the Allen Hart Excavating Company offered the lowest price. Because
several parks were being improved at that time, it was assumed that advertising
for bids was not necessary since the improvement costs applicable to each park
were not expected to exceed $1,000.00.
On April 22, 1957 Bergerson - Caswell, Inc. was paid the following amount
for repairs to pump and well No. 4: .
Well and pump work $ 5,291.15
Screen and gravel pack 4.959.98
TOTAL $10,251.13
The Village Manager stated that considerable sand was being pumped at
well No. 4 and that the pump was in need of repairs. He also stated that the work
was done without advertising for bids because the nature of the work was such.that
specifications could not be prepared in advance as there was no way of knowing
exactly what work was necessary until the work was actually in progress.
Center Sod, Inc. was paid $1,132.30 on September 23, 1957 and $1,407.88
on October 14, 1957 for sod furnished the Village. No record was found of advertis-
ing for bids on this material.
M. S. A. Section 412.311 provides:
"Every contract for the purchase of merchandise, materials or equipment
or for any kind of construction work undertaken by the village which
requires an expenditure of $1,000 or more...shall be let to the lowest
responsible bidder, after notice has been published once in the official
newspaper at least ten days in advance of the last day for the sub -
mission of bids."
Prior to the enactment of Laws of 1957, Chapter 429, effective April 14,
1957, the maximum amount that could be spent for certain purchases or construction
work, without advertising for bids, was $500.00.
Irm
BUDGET
It has been the practice of the Council, in November or December, to
adjust the various appropriation.accounts by transferring balances from accounts
having unexpended balances to accounts which have been overexpended.
On December 9, 1957 the Council authorized the following transfers of
appropriation balances in the General Fund:
Transferred from -
General government 69575.00
Engineering 16,700.00
Police 2,900.00
Fire 225.00
TOTAL $269400.00
Transferred to -
Public works $14,100.00
Central services 12.300.00
TOTAL $26,400.00
Transfers of appropriation balances in the Park Fund were made on
December 30, 1957 as follows:
Transfer from -
Park Fund -
.Recreation $ 1,345.00
Shade trees 360.00
Capital outlay 945.00
General Fund -
Unappropriated surplus 3.500.00
TOTAL 6,150.00
Transferred to
Administration $ 2,715.00
Maintenance 1070.00
Boulevards and turnarounds 21065.00
TOTAL $ 6,150.00
Although some appropriation accounts were overdrawn prior to the time
the above transfers were made, total expenditures for the year 1957 were less
than the total revenues.
Attention is directed to the provisions of M.S.A. Section 412.721 which
provides:
"It shall be the duty of the village manager to enforce strictly the
provisions of the budget. He shall not approve any order upon the
village treasurer for any expenditure unless an appropiration has
been made in the budget resolution, nor for any expenditure covered
by the budget resolution unless there is a sufficient unexpended
balance left after deducting the total past expenditures and the
sum of all outstanding orders and encumbrances."
M.S.A. Section 412.731 permits the Council under certain conditions to
modify the budget. Such modification should be made prior to the time that the
expenditures are incurred.
-21-
RECOMMENDATIONS
We suggest,installation of a cash register system for centralizing of
general receipts of cash. This system would aid in eliminating clerical work
,and internal control deficiencies. We recommend a large capacity machine capable
of handling all'.types of general receipts. We also suggest a small cash register
for use of the traffic bureau for the same purpose as the aforementioned.
We suggest the use of work orders for accumulating costs of improvements
for operating funds. This would be an aid in locating the total cost of an
improvement project.
As hereinbefore commented. upon, we suggest the development of procedures
to insure that purchases which require bids either are covered by formal bids or
prior approval of the Council.
During the year certain transfers were made from the Liquor Fund to the
Park Fund and Park Construction Fund. We believe that transfer of funds from
operating or utility funds should not be made to funds other than the General Fund.
-22-
GENERAL FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1957
Cash:
Demand deposits
Working funds
United States Treasury Bills 2.65%
due February 20, 1958
Receivables:
Due from other funds:
Construction Fund
Sewer Rental Fund
Accounts receivable
Advance to Construction Fund
Taxes receivable — delinquent
Less allowance for delinquent taxes
Prepaid rental
Fixed assets
Y
Due to other funds:
Waterworks Fund
Construction Fund
Park Fund
Sewer Rental Fund
Accounts payable:
Trade accounts
Contracts payable
Accrued pay-,roll
Edina Firemen's Relief Association
Sundry deposits
Appropriated surplus:
Invested in fixed assets
Contributed – invested in fixed assets
For improvements
For imprest cash
Surplus – unappropriated
ASSETS
11,379.78
350.00 11,729.78
88,500.00
$ 430.99
256.10 $ 687.09
3,290.87
$ 6,892.50
6,892.50
LIABILITIES
3,977.96
150,000.00
1,000.00
988,794.03
$1 , 244,001.77
$ 6,463.73
34,348.87
.3,500.00
1,000.00 $ 45,312.60
$ 15,132.93
34,447.50
1,648.36
9,849.30
2,380.80 63,458.89
$920,094.82
68,699.21 $988,794.03
19,850.00
350.00 11,008.9994.03
126,236.25
$1,244,001.77
-23-
GENERAL FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year ended December 31, 1957
APPROPRIATED
Balance at January 1, 1957
Additions:
Transfers from unappropriated surplus:
For fixed assets - net
For improvements
For encumbrances
For imprest cash
UNAPPROPRIATED
General Fund balance at January 1, 1957
Garbage Fund balance at January 1, 1957 (A)
Total per separate schedule
Additions:
Decrease in reserve for encumbrances
Transfer from Special Assessments Fund
Sales of fixed assets
Adjustment of prior year accounts payable
Deductions:
Village share of construction costs:
Street improvements
Other
Appropriation of surplus to extend budget
Contracts payable - for voting machines
Public street easement
Increase in imprest cash
Transfer to Park Fund
Transfer to Construction Fund
( ) Indicates deduction.
Total
$ 982,713.23
91;905.80
19,850.00.
( 85,500.00)
25.00
$1,0089994.03
Invested in
Fixed Assets
$826,716613
93,378.69
$9209094.82
Note A - The Garbage Fund has been combined with the General Fund as of
January 1, 1957 in accordance with subsequent council action.
$ 23,545.89
2,685.62 $ 26,231,51
14,512.77
34,447.50
1,679.00
25.00
3,500000
2,348.05 82,743.83
Balance at December 319 1957 $1269236.25
-24-
For Imprest
For
For
Contributed
Cash
Encumbrances
Improvements
$70,172.10
$ 325.00
$ 85,500.00
( '1,472.89)
$ 19,850.00
($ 85,500.00)
25.00
.$68,699.21
$ 350.00
$ -
$ 199850.00
$ 33,851.22
4,666.81
$ 38,518.03
Revenue
Expenditures
$769,541.22
$688;489.75
81,051.47
I$ 85,500.00
2,348.05
•1,560.88
1.65
89,410.58
$208,980.08
$ 23,545.89
2,685.62 $ 26,231,51
14,512.77
34,447.50
1,679.00
25.00
3,500000
2,348.05 82,743.83
Balance at December 319 1957 $1269236.25
-24-
GENERAL FUND
REVENUE
VILLAGE OF EDINA
Year ended December 31, 1957
-25-
Actual
Revenue
Actual
Over- Under*
Receipts
Revenue.
Estimated
Estimated
for 1957
Accruals
for 1957
Revenue
Revenue
General taxes
$412,622.35
$412,622.35
$421,684.00
$ 9,061.65#
Other taxes
14,387.85
14,387.85
6,800.00
7,587.85
Licenses and permits:
Bicycle licenses
$ 249.50
$ 249.50
$ 300.00
$ 50.50#
Beer and liquor licenses
1,385.00
1,385.00
1,100.00
285.00
Cigarette licenses
551.00
551.00
350.00
201.00
Dog licenses and.impounding fees
2,600.50
140.00
2,740.50
1,300.00
1,440.50
Food and soft drink licenses
780.00
780.00
400.00
380.00
Gas pump licenses
570.00
570.00
400.00
170.00
Bowling alley licenses
480.00
480.00
160.00
320.00
Taxicab licenses
160.00
160.00
160.00
-
Theater license
100.00
100.00
100.00
-
Pinball and amusement devices
1,035.00
1,035.00
450.00
585.00
Plumbing licenses
2,475.00
2,475.00
2,000.00
475.00
Scavenger and garbage collector licenses
276.25
276.25
225.00
51.25
Building permits
19,222.85
19,222.85
16,000.00
3,222.85
Cesspool and sewer permits
3,989.00
3,989.00
2,000.00
1,989.00
Plumbing permits
7,849.70
7,849.70
3,500.00
4049.70
Sign permits
4,803.28
4,803428
10000.00
3,803.28
Street opening fees
550.00
550.00
300.00
250.00
Other permits
12.00
12.00
12.00
TOTAL LICENSES AND PERMITS
$ 47,089.08
140.00
$ 47,229.08
$ 29,745.00
$1704$4.08
Engineering and clerical. charges
116,089.87
803.83#
1159286.04
110,300.00
4,986.04
Police service
5,000.00
5,000.00
5,000.00
-
Repairs after construction
3,687.50
3,687.50
3,000.00
687.50
Registration fees
. 8.00
8.00
10.00
2.00#
Equipment rental
109108.50
10,108.50
29750,00
7,358-50
Court fines
61,100.50
1,023,00
62,123.50
27,400.00
34,723.50
Interest income
2,611,30
21611.30
2,611630
Board and room of prisoners
307.35
111.10
41845
418.45
State tax apportionments
219295.63
21,295.63
19,000.00
29295.63
Contribution from Liquor Dispensary Fund
50,000,00
509000.00
509000.00
-
Interdepartmental charges
6,000.00
6,000.00
59000.00
1,000.00
=_ Sales of properties
1,250.00
1,250.00#
Discounts
305-94
32.40
338.34
338.34
Miscellaneous revenue
3,471.61
440.30
3,911.91
400.00
3,511.91
$754,08548
$ •942.97
$755,028.45
$682,339,00
$72,6894+5
Appropriation of surplus
14,512.77
14,512.77
14,512.77
-
TOTAL
$754,085-48
$15455.74
$769,541.22
$696,851.77
$72,689.45
-25-
GENERAL FUND
EXPENDITURES
VILLAGE OF EDINA
Year ended December 31, 1957
Actual
Actual
Actual
Expenditures
Disbursements
Expenditures
Over- Under*
for 1957
Encumbrances
for 1957
Appropriations
Appropriations
GENERAL GOVERNMENT
Travel and mileage
631.08
40.81
671.89
650,00
$ 21.89
Subscription and dues
616.25
616.25
725.00
108.75#
Special supplies and printing
3,472.62
40.90
3,513.52
3,600.00
86.48#
Capital outlay
6,680.89
414.00
7,094.89
6,177.50
917:39
Central service charge
4,785.00
4,785.00
4,785.00
-
Equipment charge
700.00
700.00
700.00
-
Other unallocated expense
44,073.86
1,361:50
45,435.36
45,147.22
288.14
Council
6,280.50
4.84
6,285.34
6,140.00
145.34
Planning Commission
3,259.95
79.98
3,339.93
3,800.00
460.07#
Administration:
Personal services
51,405.67
51,405.67
519722.00
316.33#
`r Contractual services
1,208.92
1,208.92
19400.00
191.08#
Commodities
70.99
70.99
150.00
79.01#
Municipal court:
Personal services
10,019.99
123.00
10,142.99
10,050,00
92.99
'Contractual services
1,919.00
425.00
2,344.00
2,3.50.00
6,00#
Commodities
.655.80
16.05
671.85
770.00
98.15#
Elections
29381.17
2,381.17
29400.00
18.83#
Assessor
139458.50
336.09
13,794.59
14,800,00
1,005.41#
Legal services
5,151-54
1,989.90
7,141.44
7,740.00
598.56#
Library:
Personal services
1,144.07
19144.07
19200,00
55.93#
Contractual services.
1,098.46
100.61
1,199.07
1,175.00.
24.07
Commodities
283.18
18.49
301.67
400,00
98.33#
Inspection:
Personal services
11,835.00
119835.00
1.19861.00
26.00*
Commodities
15.50
15050
25000
9.50#
Public health
600.00
600.00
600.00
-
Animal control
2,764.65
2.764.65
2,900.00
135.35#
TOTAL GENERAL GOVERNMENT
$1749512.59
$
4,951.17
$179,463.76
$181,267.72
$19803.96#
ENGINEERING
Travel and mileage
$ 176.83
$ 176.83
$ 300.00
$ 123.17#
Special supplies and printing
586.50
586.50
700.00
113.50#
Capital outlay
1,278.85
1,278.85
29250.00
971.15*
_
Central service charge
1,850,00
1-,850,,00
1980.00
-
Equipment charge
1,000.00
1,000.00
1,000.00
-
Other unallocated expense
69400.00
6,400,00
6,500.00
100.00#
Personal services
62,803.45
$
108.74
62,912.19
639555.00
642.81#
Contractual services
5,886.95
49613.06
10,500.01
6,400.00
4,100,01
Commodities
1,680.37
11,680.37
2,000.00
319.63#
TOTAL ENGINEERING
.$ 819662.95
$
4,721.80
$ 86,384.75
$ 84,555.00
I
$19829.75
-26-
GENERAL FUND
EXPENDITURES (Cont'd)
-27-
Actual
Actual
Actual
Expenditures
Disbursements
Expenditures
Over - Under*
for 1957
Encumbrances
for 1957
Appropriations
Appropriations -
CENTRAL SERVICES
General:
Contractual services
$ 5,157.64
$
361.20
$ 5,518.84
$
5,700.00
181.16#
Commodities
5,997.86
476.50
6,474.36
6,400.00
;,74.36
$ 11,155.50
$
837.70
0 11,993.20
$
12,100.00
$ 106.80#
Village Hall:
Personal services
$ 825.06
$ 825.06
$
1,100.00
$ 274.94#
Contractual services
59875.13
$
585.63
69-460.76
6,490.00
29.24#
Commodities
1,255.12
19.36
1,274.48
1050.00
75.52#
Capital outlay
14,972.10
14,972.10
15,200.00
227.90#
$ 229927.41
$
604.99
$ 237532.40
$
24,140,00
$ 607.60#
Garage:
' Personal services
$ 485.97
$ 485.97
$
646.00
$ 160.03#
Contractual services
19700.44
$
228.59
1.,929.03
1,850,00
79.03
Commodities
420.14
15.38
435-•52
525.00
89.48#
Capital outlay
4,622.79.
49622.79
4,720.79
98.00#
Stock materials
536.94
536.94
800.00
263.06#
$ 79766.,28
$
243.97
$ 81010.25
$
8,541:79
$ 531,54#
Equipment maintenance - general:
Personal services
39038.15
47.19
3,085.34
3,100.00
14.66#
Contractual services
398.80
44.61
443.41
500.00
56.59#
Commodities
4,798.15
100.07-
4,898.22
4,900,00
1.78#
Capital outlay
643.93
643.93
.650.00
6.07#
Equipment maintenance - direct:
Personal services
9,812.43
423.50
10,235.93
109100.00
135093
Contractual services
1,794.30
122,05
1,916.35
1,850.00
66,35-,
Commodities
9,249.52
19089.51
10,339.03
9,850.00
489.03
Fuel
129394.30
268.49#
129125.81
119300-00
876.04#
Lubricants
1,023.96
1,023.96
�
1100.00
Tires and tubes
3,053.57
63.10
3,116.67
3,250.00
133.33#
Parts and accessories
3,772.93
400,95
4,173.88
4,150.00
23.88
Small tools - power:
Personal services
367.43
367.43
500.00
132.57#
Contractual services
100,50
5.50
106.00
200.00
94.00#
Commodities
318,76
1.44
320.20
450,00
129.80#
- Small tools - hand:
Personal services
245.58
245.58
312.00
66.42#
' Commodities
629.39
.49
629.88
750,00
120.12#
K
$ 93,490.89
$
3,716.58
$ 97,207.47
$
97,743.79
$ 536.32#
Transfers to other departments and funds:
General
129562.00
12,562.00
12,562.00#
-
Equipment operations
28,800.00
28,800.00
28,800.00#
-
TOTAL CENTRAL SERVICES
$ 52,128.89
$
3;716,58
$ 55,845.47
$
56,381.79
$ 536.32#
-27-
GENERAL FUND
EXPENDITURES (Cont'd)
PUBLIC WORKS
Special supplies and publication
Capital outlay
Central service charges
Other unallocated expenses
Supervision and clerical
Vacation, holiday and sick leave
Yard and shop
Work orders:
Personal services
Contractual services
Commodities
Street maintenance - paved:
Personal services
Contractual services
Commodities
Street maintenance - gravel and oil:
Personal services
Contractual services
Commodities
Street maintenance - other streets and alley:
Personal services
Contractual services
Commodities
Equipment-charges
Street lighting
Street signs:
Personal services
Commodities
Traffic signals:
Personal services
Contractual services
Commodities
Traffic signs:
Personal services
Commodities
Traffic marking
Traffic safety:
Personal services
.Commodities
Street cleaning
Actual
Disbursements
for 1957
70.54
14,042.97
810.00
304.53
12,941.57
8,104.95
3,037.17
2,031.59
6,936.09
2,904.22#
13,379.64
1,163.33
12,362.32
12,489.17
105.75
2,295.18
173.49
54.00
91.00
10,500-.00
25,877.82
2,162.63
1,833.96
304.33
2,364.18
172.04
1,141.39
1,045.46
1,885.96
822.82
440.11
2,496.59
i
Encumbrances
8,750.00
162.14
212.96
9.68
58.08
59.40
2.42
1,199.50
58.08
4.84
356.88
2.42
302.10
37.80
38.72
17.69
38.72
5.43
Actual
Expenditures
for .1957
$ 70.54
22,792.97
810.00
304.53
13,103.71
8,317.91
3,046.85
2,031.59
6,936.09
2,904.22#
13,437.72
1,163.33
12,421.72
12,491.59
1,305.25
2,295.18
231.57
54.00
91.00
10,500.00
25,877.82
2,167.47
2,190.84
306.75
2,666.28
209.84
1,180.11
1,063.15
1,885.96
861.54
445.54
2,496.59
Appropriations
100.00
22,800.00
810.00
400.00
13,000.00
8,200.00
3,100.00
2,900.00
7,100.00
1,250.00#
13,925.00
1,300.00
12,900.00
12,900.00
200.00
2,400.00
200.00
100.00
100.00
10,500.00
26,300.00
2,355.00
2,200.00
455.00
2,500.00
450.00
.1,300.00
1,150.00
2,000.00
900.00
600.00
2,500.00
Actual
Expenditures
Over - Under*
Appropriations
$ 29.46#
7.03#
95.47#
103.71
117.91
53.15#
.868.41#
163.91*
1,654.22*
487.28*
136.67#
478.28#
408.41#
1,.105.25
104.82#
31.57
46.00#
9.. 00#
422.18#
187.53#
9.16#
148.25#
166.28
240.16
119.89#
86.85#
114.04#
38.46 #.
154.46#
3.41*
-28-
GENERAL FUND
EXPENDITURES (Cont'd)
POLICE
Travel and mileage
$ 655.44
$ 655.44
I
I
1
Actual
Subscription and dues
Actual
Actual
600.00
Expenditures
Special supplies and printing
Disbursements
Expenditures
330.00
Over- Under*
Capital outlay
for 1957
Encumbrances
for 1957
Appropriations.
Appropriations
PUBLIC WORKS (Cont'd)
1,200.00
1,200.00
1,200.00
-
Bridges and culverts:
4,900.00
4,900.00
4,900.00
-
Personal services
$ 2,445.16
29.04
� 2,474.20
�. 2,655.00
� 180.80 *
Commodities
1.,821.02
219.92
1,821.02
2,250.00
42$.98#
Temporary damage:
1,237.20
59.10
1,296.30
1090.00
93.70#
Personal services
1,715.88
8.00
1,715.88
2,000.00
284.12 *.
Contractual services
871.50
$ 467.02
871.50
1,000.00
128.50#
Commodities
4;692.29
4,692.29
5,000.00
307.71#
Equipment charge
750.00
750.00
750,00
-
Snow plowing and sanding:
Personal services.::
6,393.54
148.83
6,542-37
7,635.00
19092.63#
Commodities
1,223.78
595.12
19818.90
1;400.00
418.90
_
Loading and hauling snow
.404.48
404.48
700.00.
295.52#
Equipment charges
1,100.00
19100.00
1,100.00
-
Weed control:
" Personal services
418.87
418.87
'1,100.00
681.13*
Contractual services
406.90
538°14
945.04
460.00
485.04
Commodities
516.77
516.77
600.00
.83.23#
TOTAL PUBLIC WORKS $161,296.55
$129627.99
$173,924.54
$181,045.00
$7,120,46#
POLICE
Travel and mileage
$ 655.44
$ 655.44
$ 720.00
$ 64.56#
Subscription and dues
563.35
563.35
600.00
36.65*
Special supplies and printing
223.31
223.31
330.00
106.69#
Capital outlay
7,283.70
7,283.70
71300.00
16.30#
Central service charge
1,200.00
1,200.00
1,200.00
-
Equipment charge
4,900.00
4,900.00
4,900.00
-
Personal services
94,233.22
$ 180.00
94,413,22
949437.00
23.78#
Contractual services
847.40
219.92
1,067.32
930.00
137.32
Commodities
1,237.20
59.10
1,296.30
1090.00
93.70#
Civil defense
1,107.68
8.00
1,115.68
1,400.00
284.32 *
TOTAL POLICE $112,251.30
$ 467.02
$112,718.32
$113,207.00.
$ 488.68#
=29-
ti
-30-
GENERAL FUND
EXPENDITURES (Cont'd)
Actual
Actual
Actual
Expenditures
Disbursements
Expenditures
Over- Under*
for 1957
Encumbrances.
for 1957
Appropriations
Appropriations
FIRE SERVICE
Travel and mileage
$ 338,22
338.22
350.00
$ 11.78
Subscription and dues
22.00
$ 3.06
25.06
50.00
24.94#
Special supplies and publications 64.59
64.59
125,00
60.41#
Capital outlay
6,728.69
15,000,00
.21,728.69
21_,767.26
38.57#
Central service charges
1,262.00
1,262.00
19,262.00
-
Equipment charges
29450,00
2,450,00
2,450.00
-
Personal services
52,20.87
52,201.87
-529391.00
189.13#
Contractual services
90'x:42
252.65
1,153.07
950.00
203.07 .
Commodities
883.01
46.40
929.41
1,050,00
120.59#
TOTAL FIRE SERVICE 64,850.80 `,
415,302.11
L80,152.91
$ 80,395.26
242.3.5#.
TOTAL $646,703.08
$41,786.67
$688,489.75
$696,851.77
$8,362.02#
# Indicates red figure,.
ti
-30-
ti
GENERAL FUND
ANALYSIS OF CHANGES 'IN CASH BALANCE
VILLAGE OF EDINA
Year ended December 31, 1957
General Fund balance January 1, 1957
Garbage Fund balance January 1, 1957 (A)
Additions:
Receipts - per separate schedule
Collections made on accounts receivable
and other fund accounts
Collections of amounts due others:
Waterworks fund - hydrant rental
Edina Firemen's Relief Association
Transfer to close out Special Assessment
Funds to Construction Fund
Donations for dedicated purposes
Sales of permanent assets
Deduction for advance receipt
on March 1957 tax settlement
Deductions:
Disbursements - per separate schedule
Increase in petty cash
Investments purchased
Charges to accounts receivable and
other fund accounts
Payments on accruals at December 31, 1957:
Accounts payable
Accrued pay roll
Due to other funds
Consumers' deposits
Edina Firemen's Relief Association
Transfer of Special Assessment Funds
balance to Construction Fund
Land purchase for street easement
Pay roll clearing balance included
in accounts payable
( ) Indicates deduction.
29,595.00
2,785.31
32,380.31
$754,085.48
$57,958.35
6,463.73
9,849.30
2,348.05
1,280.35 -
1,359.98
( 24,118.47) 55,141.29 809,226.77
$841,607.08
$646,703.08
$ 25.00
87,000.00
44,495.71
12,311.76
100.27
24,898.37
2,400.00
8,626.71
2,348.05
1,679.00
360.65) 183,524.22 830,227.30
Balance December 31, 1957
Note A - The Garbage Fund has been combined with the General Fund
as of.January 1, 1957 in accordance with subsequent
Council action.
$ 11,379.78
-31-
ti
Land
Land improvements
Buildings
Furniture and fixtures
Equipment:
Highway
Police
Fire
Election
Engineering
Traffic signals
Executive
Miscellaneous
Construction in progress:
Library
Widening of highways
( ) Indicates deduction.
GENERAL FUND
FIXED ASSETS
VILLAGE OF EDINA
Year ended December 31, 1957
Balance
January
1, 1957
$1289805.66
18,782.53
334,499.99
30,937.40
165,912.48
11,727.33
37,391.62
2,035.83
11,904.17
52,197.80
1,834.15
21,185.65
817,214.61
7,394 .-69
72,278.93
TOTAL $896.888.23
-32-
Balance
December
Additions
Deductions
Transfers
31 1957
$128,805.66
$729278.93
91,061.46
$14,972.10
7,394:69
356,866.78
2,967.39
$ 157.45
33,747.34
18,242.97
184,155.45
7,283.70
279.30
18,731.73
61728.69
44,120.31
38,275.00
40,310.83
1,278.85
13,183.02
52,197.80
1,834.15
5.266.72
2.672.87
23,779.50
95,015.42
$3,109.62
$79,675.62
$9889794.03
( 7139469)
-
( 72.278.93)
-
$95,015.42
$3,109.62
$ -
$988,794.03
-32-
L
POOR FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1957
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
$ 499.47
16,000.00
$19.77
$351.59
351.59, - 19.77
$16,519.24
$ 10.00.
.16.509.24
$16,519.24
-33-
POOR FUND
STATEMENT OF SURPLUS - UNAPPROPRIATED
VILLAGE OF EDINA
Year ended December 31, 1957
Balance at January 1, 1957
Additions - revenue receipts and accruals:
Tax settlements collected
Relief grants - State of Minnesota
Income on investments
Deductions - disbursements and accruals:
Suburban Hennepin County Relief Board:,
Relief orders
Administration
Rural Hennepin County Nursing Committee
Professional services
$12,426.83
$7,441.10
95.09
300.68 7.836.87
$20,263.70
$1,608.30
293.52 $1,901.82
1,802.64
50.00 3.754.46
Balance, at December 31, 1951 $16,509.24
STATEMENTS OF INCOME AND EXPENSE
Revenue receipts and accruals:
Tax settlement
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
ti
Increase
197 1956 Decrease*
$7,441.10
95.09
300.68
$7,836.87
$1,608.30
293.52
1,802.64
50.00
$3,754-46
$7,759.74 $ 318.64#
107.95 12.86#
146.33 154.35
$89014.02 $ 177.15#
$1,960.78 $ 352.48#
267.66 25.86
3,605.28 1,802.64*
40.00 10.00
$5,873.72 $ 2.119.26#
$4,082.41 $2,140:30 $ 1,942.11
-34-
POOR FUND
ANALYSIS OF CHANGES IN CASH BALANCE
VILLAGE OF EDINA
Year ended December 31, 1957
Balance at January 1, 1957 2,437.92
4
Additions:
Tax settlements received:
March, 1957 742.96
June; 1957 3,819.13
November,.1957 2,879.01
7,441.10
Relief grants — State of Minnesota 95.09
Sale of investments 15,000.00
Income on investments 300.68
Decrease in accounts receivable 5.23 22.842.10
$25,280.02
Deductions:
Payment to.Surburban Hennepin County Relief Board:
Relief orders $ 1,608.30
Administration 293.52
$ 1,901.82
Rural Hennepin County Nursing Committee 1,802.64
Professional services 50.00
Decrease in accounts payable 26.09
Investments purchased 21,000.00 24,780.55
Balance at December 31, 1957 $ 499.47
-35-
$1629494.45
LIABILITIES
PARK FUND
Payables:
BALANCE SHEET
$ 619.01
Due to other funds
VILLAGE OF EDINA
55.17
Salaries and wages
December 31, 1957
Contract for deed - land
1,1+00.00
ASSETS
Cash
58.50
1,856429
Taxes receivable - delinquent
1,/+67.00
801.73
Less allowance for delinquent taxes
Dwight Williams Memorial Park
1,467.00
-
Accounts receivable - Edina- Morningside
Lions Club
150.00
Due from General Fund
East Mirror Lake Park improvements
3,500.00
Fixed assets
Figure skating instructor's salary
295.00
156,988.16
$1629494.45
LIABILITIES
Payables:
Accounts payable for expenses
$ 619.01
Due to other funds
55.17
Salaries and wages
629.20
Contract for deed - land
1,1+00.00
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
Wooddale Park improvement
200.00
Parkwood Knolls Park improvements
860.00
East Mirror Lake Park improvements
500.00
Figure skating instructor's salary
295.00
2,981.71 $ 5,685.09
Appropriated surplus:
Invested in fixed assets
$123,043.08
Contributed:
Property and special assessment taxes
paid by General Fund
$21+,11+8./+2
Property given by others
9,796.66
33,945.08
Unappropriated- surplus deficit
( 178.80) 156,809.36
( ) Indicates deduction.
$162,494.45
-36-
PARK FUND
STATEMENT OF SURPLUS= DEFICIT JJNAPPROPRIATED
VILLAGE OF EDINA
Year ended December 31, 1957
Bal'andc at January 1, 1957
Additions (receipts):
Tax settlements received:
March, 1957
June, 1957
November, 1957
Swimming registrations
Figure skating 'instruction fees
Pre - school program registrations
Sale of craft supplies
Miscellanedus:
House rental - Warren Avenue
Skating rink rental
Pay telephone commissions
Refunds not claimed
Settlement of claims - damages
Purchase discounts
Reimburseable expenditures:
Edina - Morningside Lions Club
Reimbursed expenditures:
Wooddale Parent - Teachers Association
Transferred from General Fund
Transferred from Liquor Dispensary Fund
Due from General Fund
Deductions:
Operating expenses:
Swimming
Baseball
'.Skating rinks
Parks and recreation
General and administrative
Trade accounts and salaries payable
Due to other funds
Capital outlay:
Land
Park equipment
Furniture and fixtures
Trucks
Reimburseable expenditures:
Travel expense - Salt Lake City tennis
tournament
Reimbursed expenditures:
Summer recreation program at Wooddale School
Indicates' deRff it.
3,532.50
18,592.04
13,975.53 $36,100.07
3,169.00
372.00
281.00
347.33
$ 189.67
10.50
25.34
30.50
3.00
9.33 268.34
$ 150.00
350.00 500.00
24,975.00
11,658.75
3,500.00
$ 8,279:63
2,346.64
5,451.35
33,583.45
10,276.48
$59,937.55
1,252.74
55.17 $61,245.46
$ 3,081.29
5,911.22
65.86
2,074.00 119132.37
150.00
($ 8,472.46)
81,171.49
$72,699.03
350.00 72,877.83
Balance at December 31, 1957
( $ 178.80)
-37-
PARK FUND
ANALYSIS OF CHANGES IN CASH BALANCE
VILLAGE OF EDINA
Year ended December 31, 1957
Balance at January 1, 1957
Additions:
Tax settlements received from County:
March, 1957
June, 1957
November, 1957
Transfer from Liquor Dispensary Fund
Transfer .. from .'General Fund
Registratipn, fees:
Figure skating
Swimming
Pre - school program
Refunds not claimed
Miscellaneous:
Skating rink rental
House rental - Warren Avenue
Settlement of claims - damage
Commissions from pay telephone
Sale of craft supplies
Purchase discounts
Dedicated funds:
Wooddale Parent-Teachers Association
Edina Mrs. Jaycees
John E. Bloomberg, Inc.
Les Anderson
Deductions:.
Swimming
Baseball
Skating rinks
Parks and recreation
General and administrative
Capital outlay
Payments on liabilities accrued at
December 31, 1956
Dedicated funds - Wooddale Parent -
Teachers Association
Reimburseable expenditures - Edina -
Morningside Lions Club
$ 2,885.14
$ 3,532.50
18,592.04
13.975.53 $36,100.07
11,658.75
24,975:0
$ 667.00
3,169.00
281.00
30.50 4,147.50
$ 10.50
189.67
3.00
25.34
347.33
4.80 580.64
$ 350.00
200.00
860.00
500.00 1,910.00 79,371.96
$82,257.10
$ 89279.63
2,346.64
5,451.35
33,583.45
10,276.48 $59,937.55
11,132.37
8,830.89
350.00
150.00 80._400.81
Balance at December 31, 1957 $ 1,856429
-38-
PARK FUND
DISBURSEMENTS
VILLAGE OF EDINA
'-
Year Ended
December 31,
Increase
1957
1956
Decrease*
Swimming:
Instructors
$ 3,405.66
$ 3,058.85
$ 346.81
Bus rental
4,793.93
4,000.00
793.93
Sundry
80.04
66.26
13.78
$ 8,279.63
$ 7,125.11
$ 1,154.52
Baseball:
Coaches
$ 1,257.20
902.61
$ 354.59
Bats, balls, etc.
906.30
424.30
482.00
Sundry
183.14
10.17
172.97
2046.64
$ 1,337.08
$ 1,009.56
.Skating rinks:
Labor - rinks
$ 4,878.74
$ 5,733.10
$ 854.36#
Labor - buildings
14.16
358.58
344.42#
Power and light
125.26
154.22
28.96#
Lumber
-
49.66
49.66#
Supplies
413.13
72.36
340.77
' Sundry
20.06
`113.32
93.26#
$ 5451.35
$ 6,481.24
$ 1;029.89#
Parks and recreation:
" Maintenance labor...
$199265.76
$ ll,s317.75
$ 7,948.01
° Instructors' salaries
69412.30
49740.99
1,671.31
Water
25.00
50.00
25.00#
Equipment rental
2,632.50
15.00
29617.50
Flower and tree planting
748.83
78.44
670.39
Maintenance and supplies
2438.59
2,105.76
332.83
Mosquito control
560.60
251.03
309.57
Recreation supplies
828.88
430.1$
398.70
Cascade maintenance and expense
3.33
4,216.43
4,213.10#
Sundry
667.66
596.42
71.24
$339583.45
$ 239802.00
$ 91781.45
General and administrative:
Recreation director
$ 6,720.00
$ 61895.06
$ 175.06#
Secretary
2,742.14
-
21742.14
Mileage and parking
454.96
282.33
172.63
Interest on contract for deed
109.38
128.37
18.99#
Professional services
250.00
350.00
100.00#
$10,276.48
8 7655.76
$ 2,620.72
TOTAL OPERATING EXPENSES.
$59,937.55
$ 46,401.19
$13,536.36
(Carried Forward)
0
-39-
PARK FUND
DISBURSEMENTS (Cont'd)
TOTAL OPERATING EXPENSES (Brought Forward)
Capital outlay:
Land
Land improvements
Equipment
Trucks
Furniture and fixtures
Construction in progress
Payments on liabilities accrued at
beginning of year:
Accounts payable
Salaries payable
Contracts payable
Dedicated Funds (donations):
Wooddale Parent - Teachers Association:
" Amount expended for recreation program
Hopkins Recreation Commission:
Collections for Shady Oaks parking permits
Park at 65th and Mildred:
Amount expended for land
Pearson Candy Company:
Amount expended for equipment
Girl Scouts:
Amount expended for equipment
Chesley F. Carlson:
Amount expended for equipment
Reimburseable expenditures:
Edina - Morningside Lions Club:
Amount expended for tennis tournament
participation - Salt Lake City
TOTAL
Year Ended December 31, Increase
1957 1956 Decrease*
$599937.55 $ 46,401.19 $13,536.36
$ 3,081.29 $ 51,152.63
- 9,491.90
5:911.22 1,196.08
2,074.00 -
65.86 -
3,234.40
$11,132.37 $ 659075.01
$48,071.34#
9,491.90*
4,715.14
2,074.00
65.86
3,234.40#
$53,942.64#
$ 7,606.10 $ 3,076.01 $ 4030.09
524.79 1,136.33 611.54#
700.00 1.600.00 900.00#
$ 8,830.89 $ 5,812.34 $ 3,018.55
$ 350.00 $ 350.00 $ -
- 864.00 864.00*
120.00 120.00#
200.00 200.00*
30.00 30.00*
150.00 150.00#
$ 350:00 $ 11714.00 $ 1,364.00#
150.00 - 150.00
$809400.81 $119,002.54 $38,601.73#
-40-
PARK FUND
FIXED ASSETS
VILLAGE OF EDINA
Year ended December 31, 1957
TOTAL , 3138.800.70 $18.187.46 $156.988.16
-41-
Balance
Balance
January
December
1. 1957
Additions
31, 1957
Land
879362.35
39081.29
$ 909443.64
Skating rinks
1,871.47
1,871.47
Land improvements
349213.78
79055.09
41,268.87
Buildings
449.43
449.43
Park equipment
2,978.11
59911.22
8,889.33
Furniture and fixtures
263.22
65.86
329.08
Trucks.
59082.15
2,074.00
7,156.15
Miscellaneous
77.00
77.00
$132,297.51
$18,187.46
$150,484.97
Construction in progress:
52nd and Arden
131.26
131.26
50th and Wooddale
29324.85
2,324.85.
East Mirror Lakes
31785.72
3,785.72
57th and Chowen
261.36
261.36
TOTAL , 3138.800.70 $18.187.46 $156.988.16
-41-
PARK SINKING FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1957
ASSETS
Taxes receivable — current
Taxes receivable — deferred
Less reserve for uncollectible taxes
LIABILITIES
Due to other funds
Bonds payable
Reserve for future interest
Unappropriated surplus
$ 42,000.00
$1,173,000.00
79.750.00 1,093.250.00
$19135,250.00
$ 6,567.38
700,000.00
427,030.00
1.652.62
$1,135,250.00
-42-
PARK SINKING FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year ended December 31, 1957
Balance at January 1, 1957
Additions:
Accrued interest on bonds sold
Income on investments
Transfers:
Allowance for uncollectible taxes
Deductions:
Payment to fiscal agent:
Interest
Service charge
Interest on bonds held by Improvement
Bond Redemption Fund
3,230.34
6,794.40
8,220.00
$18,244.74
X13,889.00
39.12 $13,928.12
2.664.00 16,592.12
Balance at December 319 1957 $ 1,652.62
-43-
PARK SINKING FUND
BOND AND INTEREST MATURITIES, DEFERRED TAX LEVIES,
AND RESERVE FOR UNCOLLECTIBLE TAXES
VILLAGE OF EDINA
December 31, 1957
Maturities
Deferred
Tax Levies
Allowance for
Future
Total to
To be
Uncollectible
Maturity
Date
Bonds
Interest
be Paid
Spread in
Amount
Taxes
March
1,
1958 .
$ 20,565.00
September
1,
1958
13,215-00
33,780.00
March
1,
1959
13,215.00
September
1,
1959
13,215.00
26,430.00
1958
44,000.00
$17,570.00
March
1,
1960
10,000.00
13,215000
September
1,
1960
13,045.00
36,260.00
1959
46,000.00
9,740.00
March
1,
1961
15,000.00
13,045,00
September
1,
1961
12,790.00
40,835.00
1960
48,000.00
7,165.00
March
1,
1962
15,000.00
12,790.00
September
1,
1962
12,535°00
40,325.00
1961
49,000.00
8,675.00
March
1,
1963
15,000,00
12,535000
September
1,
1963
12,280.00
39,815000
1962
50,000.00
10,185.00
March
1,
1964
15,000.00
12,280.00
September
1,
1964
12,025.00
39,305,00
1963
51,000.00
11,695.00
March
1,
1965
15,000.00
12,025.00
September
1,
1965
11,747.50
389772.50
1964
52,000:00
13,227:50
March
1,
1966
15,000.00
11,747.50
September
1,
1966
11,470.00
38,217.50
1965
53,000.00
14,782.50
March
1,
1967
30,000.00
11,470000
September
'
1,
1967
10,915000
52,385°00
1966
54,000.00
1,615.00
March
1,
1968
30,000.00
10,915-00
September
1,
1968
10,360.00
51,275-00
1967
55,000.00
3,725.00
March
1,
1969
309000.00
10,360.00
September
1,
1969
9,805.00
50,165.00
1968
56,000.00
5,835.00
March
1,
1970
30,000.00
9,805.00
September
1,
1970'
99250.00
49,055-00
1969
57,000:00
7,945-00
March
1,
1971
30,000.00
9,250.00
September
1,
1971
8,695.00
47,945-00
1970
58,000.00
10,055.00
March
1,
1972
40,000.00
8,695000 .
September
1,
1972
7,955000
56,650.00
1971
59,000.00
21350.00
March
1,
1973
40,000.00
7,955000
September
1,
1973
7,215-00
55,170.00
1972
60,000.00
4,830.00
March
1,
1974
40,000.00
7,215.00
September.1,
1974
6,435°00
53,650.00
1973
61,000.00
79350.00
March
1,
1975
40,000.00
6,435-00
September
1,
1975
5,655.00
52,090.00
.1974
62,000.00
9,910.00
March
1,
1976
40,000.00
5,655000
September
1,
1976
4,875000
50,530.00
1975
63,000.00
12,470.00
March
1,
1977
50,000.00
49875-00
September
1,'1977
3,900.00
58,775°00
1976
64,000.00
5,225.00
March
1,
1978
50,000.00
3,900.00
September
1,
1978
2,925°00
56,825-00 s
1977
65,000.00
8,175°00
March
1,
1979
50,000.00
2,925,00
September
1,
1979
1,950.00
54,875-00
1978
66,000.00
11,125-00
March
1,
1980
50,000.00
1,950.00
September
1,
1980
975.00
52,925000
1979
52,925.00*
March
1,
1981
50.000.00
975.00
50,975.00
1980
50.975.00#
TOTAL $700,000.00
$427,030.00
$1,127,030.00
$1,173,000.00
X79,750.00
# Indicates.red
figure.
ti
PARK SINKING FUND
BOND AND INTEREST MATURITIES, DEFERRED TAX LEVIES,
AND RESERVE FOR UNCOLLECTIBLE TAXES (Cont'd)
Total to be paid — per above $1,127,_030.00
Tax levy for 1957 for payment of interest:
Due March 1, 1958 $ 209,565..00
Due September 1, 195$ 1M15.00 33,780.00
Total for which levies are to be made $1,093.,250.00
Allowance for uncollectible taxes 79.750.00
Deferred tax levy $1,173,000.00
Note — Bonds maturing after March 1, 1976 shall be subject to redemption
and prepayment at the option of the Village on said date and any
interest due date thereafter.
-45-
-46-
PARK CONSTRUCTION FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1957
ASSETS
Cash:
On deposit
$ 14,093.39
Investments:
United States Government
securities - at face value
$200,000.00
Edina Park System Bonds
- at face value
96,000.00
296,000.00
Receivables:
Accounts receivable
$ 31298.38
Due from other funds:
Park Fund.
$ 55.17
Park Sinking Fund
6,567.38
6,622.55
..99920-93
Fixed assets - at cost:
Land
$273,505.20
Construction in progress
125,433.94
398,939.14
$718,953.46 .
LIABILITIES
Trade accounts payable
$ 20,563.63
Surplus invested in fixed
assets
398,939.14
Reserve for authorized expenditures
168,3!+4.00
Reserve for construction
131,106.69
$718,953.46
-46-
PARK CONSTRUCTION FUND
ANALYSIS OF RESERVE FOR CONSTRUCTION
VILLAGE OF EDINA
Year ended December 319 1957
Balance at January,l, 1957 $ -
Additions:
Proceeds from.bond sale 7009000.00
Transfer from Liquor Dispensary 1.764.25
$701,764.25
Deductions:
Purchase of fixed assets $398,939.14
Transferred to reserve for authorized expenditures 1681,344.00
Cost of bond election 1,764.25
Cost of bond sale 1.610.17 570.657.56
Balance December 319 1957 $131,106.69
-47-
PARK CONSTRUCTION FUND
ANALYSIS OF CHANGES IN CASH BALANCE
VILLAGE OF EDINA
Year.ended December 31, 1957
Balance at January 1, 1957 -
Additions:
Proceeds from bond sale:
Principal 700,000.00
Investments sold 300,000.00
Transfer from Liquor Dispensary Fund for election cost 1,764.25
Increase in accounts payable 20.563..63
$1,022,327.88
Deductions:
Cost of bond election $ 1,764.25
Cost of bond sale 1,610.17
Advance to Park Sinking Sinking Fund 6,567.38
Payment made.for Park Fund 55.17
Cost of water main to be paid by Waterworks Fund 3,298.38
Investments purchased 596,000.00
Purchase of fixed assets 39M39.14 1.008.234.49
Balance at December 31, 1957 $ 14,093.39
-48-
PARK CONSTRUCTION FUND
FIXED ASSETS
VILLAGE OF EDINA
Year ended December 31, 1957
Lands
Highway 169 and Hanson Road
Heys farm property
Coffman property
Cornelia property (swimming pool site)
Pamela Park
Construction in progress:
Wooddale and 50th
57th and Chowen
Lake Cornelia area
Pamela area
52nd and Arden
Jackson and Belmore Lane area
East Mirror Lake area
55th and York
60th and St. Johns
Swimming pool
Architect fees
Unallocated costs
$ 15,007.09
195,436.25
11,961.86
50,000.00
1.100.00 $273,505.20
$ 15,281.48
5,359.65
19,334.49
47,099.69
600.00
283.50
3,710.73
4 ;170 '. 59
690.00
20,795.43
2,881.87
5.226.51 125.433.94
Balance at December 31, 1957 $398,939.14
-49-
Total
Elimination Construction
ASSETS
Cash on deposit
$ 82,319.78
16,312.63
Investments - at face amount
1,608,500.00
204,000.00
Receivables:
Special assessments:
Current - certified in 1957 -
collectible in 1958
814,944.65
Delinquent
104,127.63
Deferred
3,839,134.26
Taxes and assessments receivable -
Villag.e share of projects:
Current
28,187.71
Delinquent
992.67
Deferred
69,355.42
$4,856,742.34
Less allowance for delinquent taxes
342:104.98
TOTAL RECEIVABLES
$4,5149637.36
-:
Due from other funds
270,921.58
118,435.92
Due from Construction Fund for advances
-
$1,7489299.66
Construction in progress:
Current
1,606,318.33
1,606,318.33 .
Deferred
592,301.19
592,301.19
Unallocated construction costs,
499700.35
738.25
Prepaid interest
4,854.35
_
$8,729052.94
$1,748•;299.66 $2,538,106.32
LIABILITIES
Accounts payable
.$ 1,828.00
Accrued interest
65,065.75
Canceled assessments refundable
9,936.54
Due to Hennepin County
10,296.85
Due to-other funds
237,003.70
$ 430.99
Construction contracts payable
592,301.19
592,301.19
Watermain and sewer connection deposits
21,815.65
21,815.65
Advance from Improvement Funds
-
$1,748,299.66 1,748,299.66
Loan from General Fund
150,000.00
1509000.00
Payable to City of Minneapolis for Village
share of sewage disposal plant
17,697.84
Bonds payable
7,253,000.00
Reserve for assessment adjustments
1.56,158.88
Reserve for construction
25,258.83
25,258.83
Surplus:
Unappropriated
189,189.71.
$8,729,552.94
$1,748;299.66 $2,538,106.32
# Indicates red figure.
IMPROVEMENT FUNDS "!
COMBINED BALANCE SHEET
VILLAGE OF EDINA !
-50-
December 31, 1957
r�
.
Permanent
1952
1953
Sanitary
Improvement
Special
Improvement
1950 Improvement
1951 Improvement
Improvement
Improvement
Sewer:..
Southdale
19,54. Improvement
Bond
Temporary
Assessments
Revolving
First Series
Second Series
First Series Second Series
First Series
First Series
No. 53
Improvement
'First Series
Second. Series
Redemption
Improvement
$ 9,559.64
$ 2,570.62
$ 37.07#
$ 1,127.91
$ 722.35
$ 39256.18
$ 3,638.82
427.75
$ 3,597.69#
$ 899.41
$ 1,200.20#
$ 4,758.71
$ 27,988.43
$ 15,892.29
18,000.00
32,000.00
50,000.00
769000.00
26,000.00
1579.500.00
83,000.00
1139,000.00
120,000.00
65,000.00
579000.00
67,000.00
540,000.00
$ 38,591.46
$12,057.01
$ 10,164.87
$10,123.01
$ 70,154.99
$ 44,507.28
$ 49,650.25
$ 50,244.75
$ 28,52527
` $ 19,724.88
$ 71,827.07
$ 397,687.39
$ 11,686.42
$ 714.15
5,845.16
7,057.47
78.76
1,516.23
10,103.14
3,168.29
5,306.04
9,481.68
375.64
1,487.59
11,471.36
479522.12
34,163.60
29,132.61
199116.01
30,811.71
23A,272.62
58,364.54
153,505.98
4189706.20
1089365.27
74,418.94
298,230.28
2,3209225.66
63,820.84
545:14
442.57
11,200.00
16,000.00
297.07
695.60
$ 714.15
$48,792.T3
29,359.64
$429893.52
310,530.75
19.421.88
$136,959:06
$208,462.27
49,933.54
$545,061.77
$137,266.18
$ 95,631.41
$381,528.71
$2,765,435.17
$ 75,507.26
$ 789600.22
714.15
9,499.98
9,116.95
1.542.80
3,562.97
25,124.52
10,254.46
15,463.85
43,079.22
7.220.17
6,194.78
29,978.11
176,577.66
3,775.36
$ -
$ 69,100.24
,$39,675.28
$ 279816.84
399330.55
$285,406.23
$126,704.60
$192,998.42
$5019982.55
$130,046.01
$ 89,436.63
$351,550.60
$2,588,857.51
$ 71,731.90
•
319.68
'
4,111.59
2,088.58.
86,476.18
59,415.71
73.92
1,036.36
8,055.99
39507.76
29070.14
4,685.92
64,850.34
1,153,283.80
510,809.35
'25,235.80
23,726.30
4,854.35
$27,559.64
$103,990.54
$899638.21
$1109092.70
$66,052.90
$446,162.41
$223,487.99
$309,933.93
.$706,931°18
$280,596.93
$149,922.35
$488,233.57
$4,333,856.04
$6039287.89
$ 739.34
$ 19088.66
$ 434.33
$ 416.00
$ 431.00
$ 758.75
$ 1,925:00
$ 2,561.67
$ 2,555.00
$ .1,080.00
$ 4,253.33
49,950.67
$ 700.00
$ 9,533.97
213.41
12.27
112.56
64.33
177.60
351.65
131.50
139.35
528.80
164.55
252.65
$ 2,914.15
166.65
208.00
629.30
4,522.65
110.00
84,087.05
827.18
19603.85
39,528.14
4,219.68
179410.48
6,503.27
16,240.20
65,771.35
381.51
17,697.84
.
65,000.00
78,000.00
55,000.00
370,000.00
2109000.00
265,000.00
6709000.00
275,000.00
.135,000.00
.440,000.00
4,0909000.00
600,000.00
7,146.68
69126.20
877.66#
143.73#
2,169.49#
79413.37
281.02
722.52
14,745.14
122022.71
392.12
327.83
18,773.14
15,878.37
23.815.E
11,347.94
35.377.89
9,283.92
17,295.76
34.017.03
2,594.26
6,408.56,
12;365.60
1,704.26
$27,559.64
$103,990.54
$899638.21
$1109092.70
$66,052.90
$446,162.41
$223,487.99
$309,933.93'
$706,931.18
$280,596°93
.$149,922.35
$4889233.57
$4,333,856.04
$603,287.89
-50-
Balance at January 1, 1957
Additions:
Interest spread on assessments for collection
in 1958
Interest collected by Village on prepayment
on special assessments
Accrued interest on sale of bonds
Income on investments
Capitalized interest
Deductions:
Interest on bonds
Bank service charges
Legal costs on bond sales
Advertising and printing
Transfers:
Allowance for delinquent taxes
Reserve for assessment adjustments,
General Fund
NET TRANSFER DEDUCTION
Balance at December 31, 1957
# Indicates red figure.
Total
$127,966.00
$240,638.30
70.38
6,601.71
28,995.25
28.119.97
,$3049425.61
$2029580.25
654.50
2,388.84
455.00
$206.078.59
$226,313.02
$ 33,863.22
912.04
2.348.05
$ 37.123.31
$1899189.71
Special
Assessments
$3,236.26
339.39
$ 339.39
$ 28.00
7.00
35.00
3,540.65
$ 864.77
2,348.05
212.82
$ 327.83
r.
IMPROVEMENT FUNDS
STATEMENT OF SURPLUS - UNAPPROPRIATED 1
VILLAGE OF EDINA
Year ended December 31, 1957
Temporary
Improvement
$4,595.21
746.64
837.77
$6,179.62
$ 700.00
700.00
$5,479.62
$3.,775.36
377.36
$1,704.26
-51-
Permanent
1 9 5 2
1 9.5 1
Sanitary
Improvement
Improvement
1950 Improvement
1951 Improvement
Improvement
Improvement
Sewer.,
Sou•thdale
1954 Improvement
Bond
Revolving
First Series
Second Series
First Series
Second Series
First Series
First Series
No. 53
Improvement
First Series
Second Series
Redemption
$14,569.54
$11,474.99
$20,485.47
$10,326.84
$24,649.78
-
$13,970.63
$18,994.02
$ 810.•.58
$3,707.65
$ 5,740.24
$ -
$ 4,141.44
$ 1,962.43
1,425.15
$ 1,929.63
$14,308.33
$4,901.24
$ 9,664.76
$22,331.00
$6,519.43
$4,486.o9
$17,608.74.
$146,764.85
2.31
1.60
2.50
29.85
9.48
.92
1.08
2. 3.01
3.13
16.50
5,855.07
626.61
595.60
1,019.18
193.40
2,530.61
662.39
1,634.51
136.33#
895.94
912.00.
2,120.78
17,601.17
1,269.64
_
26,012.E
$ 6,040.00
$ 2,559.63
$ 2,449".-8-3-
_
$ 2,123.03
$16,868.79
$5,573.11
$11,300.19
$22,195.75
$7,415.37
$5,401.10
$19,732.65
$196,250.15
$ 200.00
$ 1,303.00
$ 1,248.00
$ 1,.,293.00
$ 9,105.00
$5,775.00
$ 7,685.00
$21,333.75
$7,835.00
$3,.,240.00
$10,847.50
$131,987.00
27.00
8.00
4.56
6.47
24.13
14.44
19.22
53.54
47.28
8.10
137.85
296.91
2,388.84
455.00
8 227.00
$ 1;311.00
1,252.56
1 2 7
111,150.45
8 9.129.13.
8 .
$ 7,704.22
$17,566.60
$21.3.29
$19;802.48,
7. 882.28
$
3 8.10
$5460.65
$10.985.35
$14,487.54
$135,127.75
$ 61,122.40
$20,382.54
$12;723.62
$21,679.74
$32,389.44
$ 216.33#
343..67
$ 209.73
$ 3,154.75#
$1,647.78#
$ 197.54#
$ 2,988.45#
$9,500.25#
$ 270.84
$14,214.55#
$2,250.59#
$ 547.91#
$ 2,121.94
$ 61,.122.40
19399.67
487.63#
i
$ 1,609.40
3.'154.75*
$ 2,135.41#
S 197. 4#
$ 2,988.45#
$9,500.25*
$ 270.84
$14,214.55#
$2,250.59
S . 7. 1*
$ 2,121.94
$ 61.122..40
$18,773.14
$159878.37.
$23,815.'15
$11,347.94
$35,377.89
$99283.92
$17,295.76
$349017.03
$2,594.26
$6,408.56
$12,365.60
$ -
Temporary
Improvement
$4,595.21
746.64
837.77
$6,179.62
$ 700.00
700.00
$5,479.62
$3.,775.36
377.36
$1,704.26
-51-
Balance at January 1, 1957
Additions:
Remittance from County Auditor:
On special assessments
On taxes receivable
Collections by Village on special assessments:
Principal
Accrued interest
Proceed from sale of bonds:
Principal
Accrued interest
Sale of investments
Collection from other.funds accrued at December 31, 1956
Advance from Improvement Fund
Increase in watermain and sewer connection.deposits
Payments received on connection charges
Canceled assessments refundable
Collection for other funds °
Transfer from General Fund
Sundry
Deductions:
Construction costs charged to other funds:
General Fund $ 34,348.87
Permanent Improvement Revolving Fund 60,229.77
Improvement Funds 832.327.23
$ 9269905.87
Increase in construction
in progress:
Balance at December
31, 1957:
Current construction '-,$1',606,318.33
Deferred construction 592,301.19
Unallobated costs 738.25
Balance at January
1, 1957:
Current construction $ 7289211.34
Deferred construction 304,935.88
Unallocated costs 6,263.13
Less increase in contracts payable:
Balance at December 31, 1957
Balance at January 1, 1957
$2,199,357.77
1,039,410.35 1.159.947.42
2,086,853.29
.Combined
72,296.00
$ 692,917.88
37,017.59
44,071.50
70.38
1,900,000.00
6,601.71
2,320,631.58
38,535.33
1,780,193.16
5,358.27
48,675.46
9,533.97
1,081.76
2,348.05
3,145.44
$6,890,182.08
$ 592,301,19
304,935.88 287,365,31 1,799,487.98
(Total Carried Forward) $5,162,990.10
s
1,799.,487.98
$1,600,317.77 $45,219.59 $76,375.33 $25,294.89 $57,699.78 $23,046.17 $179,623.16 $68,842.67 $192,015,98 $138,174,38 $899146.64 $479233.97.$161,34744 $1,857,905.69 $600,746.64
-52-
IMPROVEMENT FUNDS
ANALYSIS OF CHANGES IN CASH BALANCES
VILLAGE
OF EDINA
Year ended December 31, 1957
I'
Permanent
1952
1953
Sanitary
Improvement
Special
Improvement
1950 Improvement
1951 Improvement
Improvement
Improvement
Sewer
Southdale
1954 Improvement
Bond
Temporary
Construction
Assessment
Revolving
First Series
Second Series
First Series
Second Series '
First Series
First Series
No, 53
Improvement
First Series
Second Series
Redemption
Improvement
25'9267.82
8,062.98
$ 834.73#
$ 3,251.0.9#
$ 181.43.
52.18
$ 15,544.96
2,979.01
581.77
17,056.36
$ 235.30
$, 44.77
$ 124.44
6;250.80
-
$ 1,327.86
$40,587.80
$149534.22
$19,462.44
$10,663.86
$ 78,991.25
$50,825.15
$ 53,034.73
$ 50,708.38
$30,992.00
$239102:22
$ 76,933.67
$ 2419754030
810.68
607.09
11,327,39
24,272.43
.2,347,54
603.88
736.61
529.64
8,941.29
2,339.61
764.05
1,457,93
.1,636,28
1,171,97
6,165.42
17,377.28
2.31
1.60
2,50
29.85
9.48
.92
1-.08
3,01
3.13
16.50
1,300,000.00
$6009000000
59855,07
746.64
$1,566,000.00
99839.39
339626.61
12,595.60
34,019,18
11,193.40
75,530.61
662,39
137,634.51
55,895.94
22,912.00
78,120.78
2829601.17
20,207,46
16,455.39
19872.48
_ 1,780,193.16
5,358.27
3,297.62
699.-64
44,678.20
99533.97
1,081,76
2,348,05
430.99
645.80
585.20
387.12
1.096.33
$3,374,537.93
$37,156.61
$77,210.06
$28,545.98
$57,518.35
$22093.99
$164,078.20
$65,863.66
$1915434.21
$1219118,02
$88,911.34
$47,189.20
$1619223.00
$198519654.89
$600,746.64
1,799.,487.98
$1,600,317.77 $45,219.59 $76,375.33 $25,294.89 $57,699.78 $23,046.17 $179,623.16 $68,842.67 $192,015,98 $138,174,38 $899146.64 $479233.97.$161,34744 $1,857,905.69 $600,746.64
-52-
(Total Brought Forward)
Deductions (cont'd):
Payment on accruals at December 31, 1956
Investments purchased
Payment to County Auditor for bookkeeping charges
Transfer to Construction Fund.
Bonds redeemed
Interest on bonds.
Bank service charges
Refunds on special assessments
Payment on connection charges
Transfer to General Fund
Increase in prepaid interest
Costs charged directly to reserve for assessment adjustments
Legal costs of bond sale
Printing of bonds
Paid to City of Minneapolis — sewage disposal plant
Balance at December 31, 1957
* Indicates red figure.
Combined -
$5;162,990.10
$. 20,505.14
29874,636.33
1,230.55
1,780,193.16
119,000.00
185,956.25
654.50
18,373.62
65,926.87
2,818.55
4,854.35
1,340.00
2,388.84
455.00
2,337.16
'$5.080.670.32
$ 82019.78
J
IMPROVEMENT FUNDS
ANALYSIS OF CHANGES IN CASH BALANCES (Cont'd) I
i
-53-
Permanent
1952
1953
Sanitary
Improvement.
Special
Improvement
1950 1merovement
1251 Improvement
Improvement
Improvement
Sewer
Southdale
1954 Improvement
Bond
Temporary
Construction .
Assessment
Revolving.
First Series --
Second Series
First Series
Second Series
First Series
First Series
No. 53
Improvement
First Series
Second Series
Redemption
Improvement
$1,600 - ,317.77
$45,219.59
$76,375.33
$25,294.89
$57,699.78
$23,046.17
$179,623,16
$68,842.67
$192,01.5'.98
$138,174.38
$899146.64
$47,233.97
$161,347.44
$1.,857,905.69
$600,746.64
$ 20,505,14
1063,500.00
$23000.00
$42,000.00.,
$22,000.00
$48,000.00
$21,000.00
$128,000.00
$56,000.00
$173,000.00
$120,136.33
:$60,000.00
$42,000.00
$ 67,000.00
$ 509,000.00
7.30
103.50
90.90
39.55
21+.35
120.15
44.70
53.45
248.45
24.95
41.45
104-90
326.90
193.16
19200,000.00
$580,000.00
4,000.00
20,000,.00
20,000.00
75,000.00
28.00
300.00
1;303.00
1,248.00
1,293.00
9,105.00
5,775.00
7;685.00
21,333.75
- .,8,175.00
3,240,00
119422.50
115,048.00
7.00
27.00
8.00
4.56
6.47
24.13
14.44
19.22
53.54
47.28
8010
137.85
296.91
39932.44
11,038.46
3,402.72
1,930.06
3,742.29
389924.54
3,369.71
10,830.56
3,144.62
2,923.48
1,061.61
29348.05
335.75
134.75
•
4985435
-
1,340.00
2,388.84
455.00
$1,584,005.14
2,337.16
$35,659.95
$73,804.71
$25,331.96
$56,571,87
$22,323.82
$176,366.98
465.203-T5
X191,:588.23
141,772.07
88 2 7.2 3
T48.,434.17
9156.588.73
1,829,917.2
X584,854.35
$ 16,312.63
$ 9,559.64
$ 2,570.62
$ 37.07#
$ 1,127.91
$ 722.35
$ 3,256.18
$ 39638.82
$ 427.75
$ 3,597..9
$ 899.41.
$ 1,200020 $ 4,758.71
$ 27,988 43
$ 15,892.29
-53-
IMPROVEMENT FUNDS,
BONDS PAYABLE
VILLAGE OF EDINA
December 31, 1957
1950 Improvement.Fund
566,000.00
1951 Improvement
Fund
First
Second
First
Second
Year Total Series
Series
Series
Series
Annual maturities and
interest dates
Interest rates
March l,and Marchl,and Marchl,and June 1, and
September 1 Septemberl Septemberl December 1
1 7/10% and 2 6/10% 2 3/10% 2 4/10% and
2 3110% and 3% 2 9/10%
1952 1953
Improvement Improvement Improvement
Fund Fund Sanitary Southdale _1.954 Improvement Fund Bond Temporary
First First Sewer Improvement First Second Redemption Improvement
Series Series No. 53 Fund Series. Series Fund Fund
March 1, and March 1, and January 1-,,� March l,and March l,and March l,and March 1, and June 15,and
September 1 September and' July 1 September 1 September 1 September 1 September 1 December 15
2 3/4% 2 9/10% 3 1/4% and 1 7/10% 2% 1 3110% to 2% to 2 8/10%
3 1 /10% to 3% 2.3% 3:9/10%
1958
566,000.00
$15,000.00 $15,000.00 $11,000.00 $ 55,000.00
$ 50,000.00 $
50,000.00
$
25,000:00 4
20,000.00 $
75,000.00 $
250,000.00
1959
1,170,000.00
14,000,00 15,000.00 11,000,00 65,000.00
50,000.00
50,000.00
25,000.00'
20,000.00
70,000.00
250,000.00 $600,000.00
1960-
'635,000.00
14,000..00 15,000.00 11;000.00 60,000.00
20,000.00
50,000.00 $
45,000.00
30,000.00,
20,000.00
55,000.00
315,000.00
1961
585,000,00
14,000.00 15;000.00 11,000,00 65,000.00
20,000.00
25,000.00
45,000.00
15,000.00'
15,000.00
55,000.00
305,000.00
1962
557,000.00
8,000.00 18,000.00 11,000.00 60,000.00,
20,000.00
25,000.00
45,000,00
15,000.00.
15,000.00
40,000.00
300,000.00
1963
530,000.00
65,000.00
25,000.00
25,000.00
45,000.00
15,000.00.
15,000.00
40,000.00
300,000.00
1964
460,000.00
25,000.00,
20,000.00
459000.00
159000.00'
159000.00
40,000.00
300,000.00
1965
435,000,00
20,000.00
459000.00
15,000.00
159000.00
40,000.00
3009000.00
1966
380,000.00
40,000.00
15,000.00
25,000.00
300,000.00
1967
345,000.00
40,000.00
15,000-00'
290,000.00
1968
160,000.00
40,000.00
15,000.00
1059000.00
1969
160,000.00
40,000,00
159000.00
105,000.00
1970
160,000.00
40,000.00
15,000.00
1059000.00
1971
160,000.00
40,000.00
15,000.00:
1059000.00
1972
160,000.00
40,000.00
15,000.00'
105,000.00
1973
1609000.00
40,000.00
159000.00
105,000.00
1974
1459000.00
40,000.00
1059000.00
1975
145,000.,00
409000.00
1059000.00
1976
105,000.00
105,000.00
1977
105,000.00
105,000.00
1978 65,000.00 65,000.00
1979 65.000.00 65,000.00
TOTAL $7,253,000.00 $659000.00 $78,000.00 $55,000.00 $3709000.00 $210,000.00 $265,000.00 $670,000.00 $275,000.00 $135,000.00 $440,000.00 $4,090,000.00 $600,000.00
-54-
I WATERWORKS FUND
FIXED ASSETS - Note A
Land $ 17,777.30
Land improvements $ 4,743.92
Buildings and equipment 2,542,135.66
$2,546,879.58
Less allowance for depreciation 263,862.65 2,283,016.93
Construction in progress 1,790.60 2,302,584.83
$2,423,707.99
* Indicates red figure.
LIABILITIES
CURRENT LIABILITIES_
Accounts payable and accrued expenses:
Trade accounts
Salaries and wages
Interest
Current maturities of bonds payable
LONG -TERM DEBT
Bonds payable - Note B
Less current maturities — shown above
SURPLUS
Invested in fixed assets
Revaluation of fixed assets - Note A
,Contributed by special assessments - Note A
Contributed by General Fund
Earned:
Appropriated
Unappropriated
See notes to balance sheet.
$ 5,443.54
2.56.52
2,851.66 89551.72
23,000.00
TOTAL CURRENT LIABILITIES 31,551.72
334,000.00
23,000.00 311,000.00
$ 91,697.46
32,787.36
1,827,719.35
16,380.66 $1,968,584.83
$ 46,760.00
65,811.44 112.571.4,4 2,081,156.27
$2,423,707.99
=55-
BALANCE SHEET
VILLAGE OF EDINA
December 3.1, 1957
ASSETS
_ CURRENT ASSETS
Cash:
On deposit
9,267.69#
Appropriated funds
15,388.75
Working funds
25.00
6,146.06
Investments:
United States Government securities - at cost
74,461.88
Accrued interest receivable
621.09
$ 75,082.97
Less amounts segregated and
shown below
31,371.25
43,711.72
Accounts receivable:
From customers
26,217.00
Sundry
157.21
Due from General Fund
6,463.73
32,837.94
Inventories:
-_ Meters - at cost
$ 5,120.38
Supplies - estimated
1,750.00
6,870.38
. Prepaid expenses
185.81
TOTAL
CURRENT ASSETS
89,751.91
OTHER ASSETS
Segregated securities - for reserve for
debt retirement
31,371.25
FIXED ASSETS - Note A
Land $ 17,777.30
Land improvements $ 4,743.92
Buildings and equipment 2,542,135.66
$2,546,879.58
Less allowance for depreciation 263,862.65 2,283,016.93
Construction in progress 1,790.60 2,302,584.83
$2,423,707.99
* Indicates red figure.
LIABILITIES
CURRENT LIABILITIES_
Accounts payable and accrued expenses:
Trade accounts
Salaries and wages
Interest
Current maturities of bonds payable
LONG -TERM DEBT
Bonds payable - Note B
Less current maturities — shown above
SURPLUS
Invested in fixed assets
Revaluation of fixed assets - Note A
,Contributed by special assessments - Note A
Contributed by General Fund
Earned:
Appropriated
Unappropriated
See notes to balance sheet.
$ 5,443.54
2.56.52
2,851.66 89551.72
23,000.00
TOTAL CURRENT LIABILITIES 31,551.72
334,000.00
23,000.00 311,000.00
$ 91,697.46
32,787.36
1,827,719.35
16,380.66 $1,968,584.83
$ 46,760.00
65,811.44 112.571.4,4 2,081,156.27
$2,423,707.99
=55-
WATERWORKS FUND
NOTES TO BALANCE SHEET
VILLAGE OF EDINA
December 31, 1957
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. W aterma.in.s. 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:
1947 Issue 1953 Issue 1955 Issue Total
Annual maturities March 1, March 1, March 19
and interest dates and and and
Septemberl Septemberl September 1
Interest rates 2 1./2 and 2.75% 2.60 %9 2.30%
2 3t and 2.50%
Annual amount of
_ maturities:
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
TOTAL
8,000.00
8,000.00
8,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
5,000.00 $ 10,000.00 $ 239000.00
5,000.00 10,000.00 23,000.00
5,000.00 10,000.00 23,000.00
5,000,00 109000.00 25,000.00
5,000.00 10,000.00 25,000.00
59000.00 109000.00 25,000.00
5,000.00 109000.00 25,000.00
5,000.00 10,000.00 259000.00
10,000.00 109000.00 309000.00
10,000.00 10,000.00 309000.00
30,000.00 30,000.00
30,000.00 30,000.00
20,000.00 20,000.00
$94,000.00 $60,000.00 $180,000.00 $334,000.00
Bonds maturing after September 1, 1957 of 1947 issue shall be subject to
redemption and prepayment at the option of the Village on said date and
any interest due date thereafter. Bonds maturing after March 1,19639 of
the 1953 and 1955 issues, shall be subject to redemption and prepayment
-at the option of the Village on said date and any interest due date
thereafter. Thirty days prior notice must be given to bondholders.
-56-
WATERWORKS FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year ended December 31, 1957
Balance at January 1, 1957
Additions:
Adjustment of surplus invested in
fixed assets:
For prior years
For current' year
Watermains contributed by special
assessments
Appropriation of funds for reserve
for 'debt retirement
Depreciation provided during the year
on excess of appraisal value over
cost
Deduction:
Net loss for the year
Balance at December 31, 1957
# Indicates deduction.
Invested Contributed Contributed
Earned Surplus in Fixed by by
Total Unappropriated Appropriated Assets Assessments General Fund Revaluation
$1,816,430.05 $159,114.29 $47,491.88 $1,559,973.88 $16,380.66 $33,469.34
47,360.78#
44,336.68*
$47,360.78
44,336.68
267,745.47 2679745.47
731.88 731:88#
- 681.98 681.98#
$2,084,175.52 $ 68,830.69 $46,760.00 $91,697.46 $1,827,719.35. $16,380.66 $32,787.36
3.019.25 3.019.25
02,081,156.27 $ 659811.44 $46,760.00 $91,697.46 $1,827,719.35 $16,380.66 $329787.36
-57-
WATERWORKS FUND
STATEMENTS OF INCOME AND EXPENSE
VILLAGE OF EDINA
-58-
Year Ended
December 31,
Increase
1957
1956
Decrease*
Number of meters in use:
At end of year
4,257
3,859
398
At beginning of year
3,859
39401
458
_ Incorge:
Sale of meters
15,077.50
13,311.70
1,765.80
Less cost of meters sold
12,963.50
12,140.93
822.57,
GROSS PROFIT ON METERS
2,114.00
1,170.77
$ 943.23
Water sales
116,773.58
122,115.87
5,342.29'
Penalties
1,717.52
1,870.52
153.00#
Water connection permits
29045.50
2,153.50
108.00*
Tapping fees
381.00
661.50
280.50#
Street opening fee
70.00
78.00
8.00#
Use of hydrants
6,463.73
4,690.91
1,772.82
Miscellaneous
266.65
547.40
280.75#
$1299831.98
$133,288.47
$ 39456.49#
Expenses:
Pumping:
Labor
$ 663.40
$ 824.06
$ 160.66#
• Power and light
13,963.22
14,526.97
563.75#
• Supplies
440.68
578.44
137.76#
Buildings:.
Labor
4.82
1,451:52
1,446.70#
• Fuel
414.91
424.15
. 9.24#
Supplies
289.45
158.26
131.19
Telephone.
195.00
180.00
15.00 -
Repairs
19409.40
501.94
907.46
Insurance
-
267.65
267.65#
Equipment rental
-
359.34
359.34#
Water purchased
603.25
623.50
20.25#
Provision for depreciation
99026.79
79444.65
19582.14
Repairs
6,084.15
143.32
5,940.83
33,095.07
$ 27,483.80
$ 5,611.27
Distribution:
Labor
$ 81,648.28
$ 59671.26
$ 2,977.02
Material and supplies
3,525.86
2,262.95
1,262.91
Operation of meters:
Labor
.29925.62
2,381.79
543.83
Supplies and expense
459.24
498.54
39.30#
Equipment rental and outside labor
722.34
11,608.49
886.15#
Provision for depreciation
37,639.87
319409.88
60229.99
Repairs
-
243.33
2.43.33#
$ 53,921.21
$ 44,076.24
$ 998".97
Tanks and towers:
Labor
$ 275.61
$ 71.54
$ 204.07
Power
246.99
121.41
125.58
Supplies
11.75
66.09
54.34#
• Equipment rental
121.50
232.00
110.50#
Provision for depreciation
9,325.93
8,825.92
500.01
Insurance
144.00
144.00
$ 109125.78
$ 99316.96
$ 808.82
-58-
4
WATERWORKS FUND
STATEMENTS OF INCOME AND EXPENSE (Cont'd)
Expenses (cont'd)':
Water treatment:
Labor
Supplies
Provision for depreciation
Miscellaneous
Vehicle operation:
Gasoline and oil
Repairs
Insurance
Provision for depreciation
Administrative and general:
Salaries:
Superintendent
Clerical
Meter reading
Meter reading supplies
Office supplies, postage and telephone
Professional services
Equipment rental and repairs
Supervision
Provision for depreciation
Miscellaneous
TOTAL OPERATING EXPENSES
OPERATING INCOME
Other income:
Income on investments
Other deductions,:
Interest on bonds
Fiscal agent's service charge
NET INCOME (LOSS)
Year Ended December 31, Increase
1957 1956 Decrease*
$ 100.20 $ 297.69 197.49#
6,081.11 1,573.98 49507.13
689.63 421.86 267.77
223.73 25.42 198.31
$ 7,094.67 $ 2,318.95 4,775.72
$ - $ 484.54)
3,000.00(A) 173.91) $ 2,250.46
- 91.09)
914.28 645.27 269.01
$ 39914.28 $ 1,394.81 $ 2019.47.
$ 5,085.00 $ 3006.43 $ 1,778.57
29857.69
29219.76
637.93
49312.73
4,170.29
142.44
.88.00
101.40
13.40#
19606.30
19479.38
126.92
1,363.74
4,663.35
3,299.61#
-
52.90
52.90#
1,920.00
1,560.00
360.00
322.35
261.39
60.96
250.36
268.50
18.14#
17,806.17
18.083 0
27 .2 *
125.957.1x.
1102,674.16
$23.283.02
$ 39874.80
$ 30,614.31
$26,739.51#
1,914.08 2,658.62 744.54#
$ 59788.88 $ 33,272.93 $279484.05#
$ 8,754.56 $ 9,668.77 $ 914.21#
53.57 58.33 4.76#
8,808.13 $ 9.727.10 $ 918.97#
($ 3,019.25) $ 23,545.83 $269565.08#
Depreciation charges to operations
included in expense $ 57,918.85 $ 49,008.97 $ 8,909.88
Note A - These costs were allocated each month at a rate determined
to represent actual usage.
-59`-
WATERWORKS FUND
ANALYSIS OF CHANGES IN CASH BALANCE
VILLAGE OF EDINA
Year ended December 31, 1957
Balance January 1, 1957:
Operating fund
Sinking. fund
Additions:
Collections on accounts receivable
Sale of investments
Decrease in miscellaneous receivables
Decrease in prepaid insurance
Collection on amount due from other funds
Sale of water meters
Sundry sales and services
Income on investments
Increase in amounts payable:
Trade accounts
Accrued pay roll
Deductions:
Investments purchased
Meters purchased
Additions to fixed assets
Less contributed by special
assessments
Payment to fiscal agents:
Principal
Interest
Service charges
Operating expenses
Less provision for depreciation
Payment on amounts due to other funds
SUMMARY
Operating fund
Sinking fund.
#Indicates red figure.
$ -41,627.33*
15,538.13
10,910.80
$120,344.09
175,000.00
45.21
147.88
4,690.91
15,077.50
2,741.15.
1,297.75
$ 2,556.00
208.91 24764.91 322,109./0
333,020.20
$124,282..50
13,931.04
$346,319.02,
267,745.47 78,573.55
$ 23,000.00
8,953.75
53.57 32,007.32
125;957.18
57,918.85 68,038;•33
10,066.40 326,899.14
Balance at December 31, 1957 $ 6,121.06
TOTAL
$ 91267.69#
- 15,388.75
: 6- 121.06
-60-
WATERWORKS FUND
FIXED ASSETS
VILLAGE OF EDINA
Year ended December 31, 1957
Land
Land improvements
Distribution system:
Purchased
Contributed by special assessments
Contributed by General Fund
Buildings and equipment:
Pumphouse buildings
Wells
Pumps and piping
Tanks and towers
Office equipment
Miscellaneous equipment
Water treatment equipment
Automobiles and truck
Tools
Construction in progress
* Indicates red figure.
TOTAL
A s S e t -s
Balance Balance
January December
1, 1957 Additions Deductions. Transfers 31, 1957
159927.30 $ 1,850.00 17,777.30
2,907.00 1,836.92 40743.92
Allowance for Depreciation
Balance Balance
January Current December
1, 1957 Provision Deduct jns 31, 1957
.. - $ -
354.85 153.02
507.87
Net
Balance
December
31, 1957
17,777.30
4,236.05
$ 168,883.50 $ 168,883.50 $ 57,357.25 $ 3,377.67 60,734.92 $ 108,148.58
1,5629855.27 $267,745.47 1,830,600.74. 909258.32 33,934.59 124,192.91 19706,407.83
16 80.66 16 80.66 1,092.01 327.61 .1 1 .62 14,961.04
1;748,119.43 $2679745.47 2,015,864.90 $148,707.58 379639.87 - 186,347.45 10829,517.45
$ 38,351.23 $ 9,602.59 $ 47,953.82 $ 59978:25 $ 1,726.07 $ 79704.32 $ 4092.4.9.50
70,289.18 559491.56 125,780.74 109988.10 4,027.22 15,015.32 110,765.42
64,326.97 $ 166.14 64,493.11 19,742.84 3,120.48 229863.32 41,629.79
262015.85 432.94 262,748.79 .17,873.13 9,325.93 27,199.06 2359549.73
1,916.78 19.02 19935.80 809.71 192.62 1,002.33 933.47
784.75 1,397.50 2,182.25 315.20 129.73 444.93 1,737.32
119789.67 4,006.12 15,795.79 548.98 689.63 1,238.61 149557.18
39406.55 1,000.00 $356.25 4,050.30 981.41 914.28 $356.25 .1039..44 2,510.86
0.00 980.16 1 0.16 - 1,33o.16
0. 8 7 68. 6.2 6 27.0 26 270. 6 2 .62 20 12 6, 6.z 77,007.33 263.
29220,484.71 2799001.33. 356.25 65,527.09 29.564,656.88 206000.05 57,918.85 356.25 $2639862.65 $2,3009794.23
67,317.69 65,527.09# 1,790.60 - - 14790.60
$292209484.71 $346,319.02 $356x25 $ - $2,566,447.48 $2069300.05 $57,918.85 $356.25 $2639862.65 $2,3023,584.83
-61-
S
SEWER RENTAL FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1957
ASSETS
CURRENT ASSETS
Cash:
Demand deposits
Investments:
United States Government securities - at cost
Accrued interest receivable
Receivables:
From customers
Assessments receivable
Due from General Fund
FIXED ASSETS - at cost
Land improvements
Furniture and fixtures
Truck
Machinery and equipment
Less allowance for depreciation
LIABILITIES
CURRENT LIABILITIES
Trade accounts payable $189472.05
Accrued pay roll 174.24
Due to General Fund 256.10
TOTAL CURRENT LIABILITIES $18,902.39
$ 1,215.07
$14,946.19
142.97 159089.16
$ 8,224.48
164.75
11000.00 9,389.23
TOTAL CURRENT ASSETS 25,693.46
$ 1,797.89
..673.55
1,3'72.03
12,053.5 1
16,09.6098
2,10947 ��13, 987.71
$39;681.17
SURPLUS
Invested in fixed assets
'Available
$13,987.71
6,791.07 20,778.78
$39,681.17
-62-
* Indicates deduction.
t
Balance at December 31, 1957 $ 61791.07 $13,987.71
-63-
SEWER RENTAL FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year ended December 31, 1957
Invested
in Fixed
Available
Assets
Balance at January 1, 1957
$14,769.29
$ 7,055.52
Deduction:
Net loss for the year
1 0 6.0
13,723.26
7,055.52
Transfer:
To surplus invested in fixed
assets
6,932.19 *.
6,932.19
* Indicates deduction.
t
Balance at December 31, 1957 $ 61791.07 $13,987.71
-63-
/4
SEWER RENTAL FUND
STATEMENTS OF INCOME AND EXPENSE
Operating income:
Service charges and penalties
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
Auditing
Stationery and postage
Telephone
Provision for depreciation.,
Miscellaneous
Unallocated:
Settlement of suit
Income on investments
Miscellaneous
VILLAGE OF EDINA
TOTAL EXPENSES
OPERATING LOSS * - INCOME
NET LOSS * - INCOME
Depreciation charges to operations
included in expenses
Year Ended December 31, Increase
1957 1956 Decrease'
$59,379.39 $371992.85 $21,386.54
$339774.09 $22,079.97 $119694.12
139734.42
6,873.42
6,861.00
1,552.47
567.46
985.01
1,732.95
454.19
1,278.76
100.00
300.00
200.00#
852.41
600.33
252.08
928.82
52,675.16 31,293.85 21,38.31
$ 53.80
$ 29400.00(/) 235.09 $ 29058.94
- 52.17
314-40 157.20 157.20
21,714.40 498.26 2,216.14
$-3,784.46 $ 29005.71 $ 19778.75
225.00
140.00
85-00
1,340.00(A) 564*09
635.91
140.00
51.67
51.67
39.21
5,440.34
71.70
22.49*
T 2,518.84
6 2,921.50
00.00
60 82 0 2
1,450.51#
394.71 340.64
,9.77 1.85
$ 19046.03# $ 3,i21:73
00.00#
2 616.2
$ 4,229.75
54.07
7.92
$ 4,167.76
$ 1,294.89 $ 575.68 $ 719.21.
Note A - These costs-were allocated each month at a rate determined
to represent actual usage.
-64-
SEWER RENTAL FUND
ANALYSIS OF CHANGES IN CASH BALANCE
VILLAGE OF EDINA
Year ended December.31', 1957
Balance'at January 1, 1957
Additions:
Collections on accounts receivable
Sale of investments
Income on investments
Tax settlements received
Increase in due to other funds
Decrease in prepaid expenses
Deductions:
Expenses for the year
Less provision for depreciation
Purchase of fixed assets
Investments purchased
Increase in due from other funds
Special assessments receivable purchased
from Garbage Fund
Refunds
Payablesat January 1, 1957:
Trade accounts
Pay roll
Less payables at December 31, 1957:
Trade accounts
Pay roll
$16,984.83
$52,510.57
10,000.00_
394.71
23.40
256.10
350.00
so,51906i
$60,829.90
1.294.89 $59,535.01
8,227.08
141954.30
1,000.00
55.20
12.05
$14., 076,.45
90.19 14,166.64
97,950.26-
$18,'471.50
174.24 18,645.74 79,304.54
Balance at December 319 1957 $ 19215.07
-65-
.-1-
LIQUOR DISPENSARY FUND
'BALANCE SHEET
VILLAGE OF EDINA
December 31, 1957
ASSETS
CURRENT ASSETS
Cash:
Demand deposits
Deposits in transit
Working funds
Investments:
United States Government securities - at cost
Accrued interest receivable
M rchandise inventory -_at-cost
first -in, first =out method):
Liquor
Wine
Beer.
Mix and `=miscellaneous
Prepaid expenses:
Unexpired insurance
Supply inventory
FIXED ASSETS - at cost
Land
Land improvements
Building
Furniture, fixtures and equipment
Leasehold improvement
Less allowances for depreciation and
amortization
CURRENT LIABILITIES
Trade accounts
Accrued salaries and wages
SURPLUS
Invested in fixed assets
Available
$ 1,995.44
11,389.49
1,500-00 $ 14,884-93
$ 54,622.73
175.78 54,798.51
14232 6
4,246.81
746.27 147,508.30
$ 680.49
150.00 830.49
TOTAL CURRENT ASSETS $218,022.23
$ 16,500.00
$ 1',495.11
49,440.72
12,064.63
16,840.43
$79,840.89
23,101.06 56,739.83 73,239.83
$291,262.o6
LIABILITIES
$ 14,014.13
1 ;489.36
TOTAL CURRENT LIABILITIES $ 15,503.49
$ 73,239.83
202,518.74 275,758.57
$291,262.06
-66-
LIQUOR DISPENSARY FUND
STATEMENT OF SURPLUS
'VILLAGE OF EDINA'
Year ended December 31, 1957
Balance at January 1, 1957
Additions:
Net income for the year
Deductions:
Transfer to General Fund
Transfer to Park Fund
Transfer to Park Construction Fund
Transfer
Balance at December 31, 1957
( ) Indicates deduction.
Invested in
Fixed
Total Available Assets
$2079214.76 $1349197.54 $739017.22
131,966.81
$3399181.57
$ 50,000.00
11,658.75
1.764.25
$ 63,423.00
$275,758.57
131,966.81
$2660164.35 $73,017422
$ 50,000.00
11,658.75
1,764.25
9 63,423.00 -
$2029741.35 $73,017022
222.61) 222.61
$275,758.57 $202,518.74 $73,239.83
-67-
Sale's:'
Liquor
Wine
Beer
Mix and miscellaneous
Less bottle refunds
NET SALES
Cost of sales:
Inventory at January 1st
Purchases
Inventory at December 31st
GROSS PROFIT
Operating expenses:
Selling
Overhead
Administrative .
TOTAL OPERATING EXPENSE
NET OPERATING INCOME
Other income:
Cash discounts
Cash over
Income on investments
Other
NET INCOME
Special charge:
Loss on abandonment of
leasehold improvements
AMOUNT TRANSFERRED
TO SURPLUS
Depreciation and amortiza-
tion included in expenses
.LIQUOR DISPENSARY FUND
STATEMENT OF INCOME AND EXPENSE
VILLAGE OF EDINA
Year ended December 31, 1957
Per Cent to
Net Sales
Location 50th
50th Street Southdale Total Street Southdale
$435,255.05
47,561.39
68,319.87
7,666.80
$558,803.11
825.63
$557,977.48
$186,903.50
25,792.76
26,849.11
3,284.62
$242,829.99
250.26
$242,579.73
$622,158.55
73,354.15
95,168.98
10,951.42
$801,633.10
1.075.89
$800,557.21 100.00% 100.00%
$ 83,658.33 $ 299027.84 $112,686.17
439,023.86 198,201.98 637,225.84
0522,682.19 $227,229.82 $749,912.01
101,110.54 46,397.76 147.508.30
$421,571.65 $180.832.06 $602;403.71 75.55 74.55
$136,405.83 $ 61,747.67 $1989153.50 24.45% 25.45%
$ 19,832.25 $ 99501.89 $ 29034.14 3.56% 3:92%
5,927.36 9,774.92 15,7020-28 1.06 4.03
13.630.75 8,151.06 21,781.81 2.44 3.36
$ 394390.36 $ 27,427.87 S 66,818.23 7.06 11.31%
$ 97,015.47 $ 34,319.80 $131,335.27 17.39% 14.14%
2,875.64 864.08 3,739.72 .51
186.72 22.46 209.18 .03
265.47 265.47 .05
50.00 50.00 .01
$100,393.30 $ 35,206.34 $135,599.64 17.99%
..3,632.83 3,632.83
$100,393.30 $ 31,573.51 $131,966.81
$ 3,053.73 $ 1,984.41 $ 5,038.14 .55%
.36
.O1
14.51%
.82%
LIQUOR DISPENSARY FUND
OPERATING EXPENSES
VILLAGE OF EDINA
Year ended December 31, 1957
$13,630.75 $ 8,151.06 $21,781.81
TOTAL $39090.36 $27,427.87 $66,818.23
50th Street
Southdale
Total
Selling:
Salaries and wages
$18,517.62
$ 8,609.66
_$27,127.28
Supplies
769.29
588.85
1058.14
Dues and subscriptions
346.00
131.08
477.08
Taxes and licenses
199.34
50.00
249.34
Advertising
122.30
122.30
$19,832.25
$ 9,501.89
$29,334.14
Overhead:
Rent
$ 5,648.96
$ 5,648.96
Telephone
$ 204.75
201.43
406.18
Supplies
51.65
117.73
169.38
Light and power
943.31
725.80
1,669.11
Heat
299.82
299.82
Laundry
212.00
41.27
253.27
Burglar alarm
114.00
450.00
564.04
r Insurance
528.28
159.57
687.85
- Repairs
507.22
285.25
792.47
Depreciation
3,053.73
19984.41
5,038.14
- Miscellaneous
12.60
160.50
173.10
-
$ 5,927.36
$ 9,774.92
$15,702.28
Administrative:
Salaries
$122300.00
$ 79830.00
$20,130.00
Supplies
357.00
153.00
.510.00
Professional services
973.75
150.00
1,123.75
Miscellaneous
18.06
18.06
$13,630.75 $ 8,151.06 $21,781.81
TOTAL $39090.36 $27,427.87 $66,818.23
LIQUOR DISPENSARY FUND
FIXED ASSETS
VILLAGE OF EDINA
Year ended December 31, 1957
ASSETS
Land.
Land improvements
Building
Furniture, fixtures and equipment
Leasehold improvements
ALLOWANCES FOR DEPRECIATION
AND AMORTIZATION
Land improvements
Building
Furniture, fixtures and equipment
Leasehold improvements
NET BALANCE
Balance Balance
January December
1. 1957 Additions Deductions 31, 1957
$169,500.00 $161500.00
1495.11 1495.11
49,440.72 499440.72
11,707.85 $ 356.78 12,064.63
12,455.44 8.536.80 $4,151.81 .16.840.43
$91099.12 $8,893.58 $4,151.81 $96,340.89
$ 432.95
$ 61.85
$ 494.80
11,810.26
2,115.13
13,925.39
6,027.30
1,188:78
79216.08
311.39
1,672.38 518.98
1,464.79
$18.581.90 $5,038.14 $ 518.98 $23.101.06
$73,017.22 $73,239.83
-70-
SUMMARY OF CASH RECEIPTS AND DISBURSEMENTS
VILLAGE OF EDINA
Year ended December 31, 1957
Balance January 1, 1957:
Cash
Investments
u
Receipts:
Taxes
Special assessments
Revenue from State of Minnesota "
Licenses, permits, fines, etc.
Sales, service and supplies
Interest income
Donations for dedicated purposes
Sales of permanent assets
Miscellaneous
Collections of amounts due others:
Waterworks Funds - hydrant rental
Edina Firemen's Relief Association
Special assessments refundable
Engineering and clerical charges - net
Proceeds from bond sale
TOTAL RECEIPTS
' Disbursements:
Operating expenses
Capital outlay
TOTAL OPERATING EXPENSES AND CAPITAL OUTLAY
Bonds and interest
Miscellaneous
TOTAL DISBURSEMENTS
Interfund transfers - net
Balance at December 31, 1957
Summary of balance:
Cash
Investments (including segregated, securities - $31,371.25)
TOTAL
MEMORANDUM
Liabilities:
Current:
Accounts and contracts payable
Current maturities of bonds payable and interest
TOTAL CURRENT LIABILITIES
Long -term debt:
Improvement bonds
TOTAL LIABILITIES
* Indicates transfer -out.
Total
$ 167,153.11
1,172,339.19
$1,339,492.30
$ 4839781.65
723,629.96
21,390.72
108,504.93
1,004,110.73
51,178.32
3,190.35
1,359.98
12,838.19
6,463.73
9,849.30
5,601.53
88,443.05
2,600,000.00
$5,120042.44
$1,471,256.18
2,321,966.6o
$39793,222.78
3599064.54
20,832.01
$49173,119.33
$2,286,715.41
$ 132,744.77
2,153,970.64
$29,286,715.41
$1,222x583.30
656,917.41
$198799500.71
7,698,000.00
$9,577,500.71
21,295.63
108,504.93
8,687.50
2,611.30
1,280.35
1,359.98
5,113.21
6,463.73
9,849.30
88,443.05
$656,808.47
$572,128.60
65,729.86
$637,858.46
8,626.71
$6469485.17
55,680.98
$100,229.78
&MIZ
4,147.50
300.68
1,910.00
580.64'
$ 7,836.87
$ 3,754.46
$ 3,754.46
20.86
$ 3,775.32
$16,499.47
$42,738.21
$60,437.55
11,132.37
$71,569.92
8,830.89
$80,400.81
36.633.75
$ 1,856.29
$ 109024.74
300,000-00
10,024.74
$
3074-42
374.42
378,375.51
$381,749.93
16,592.12
3,353.55
$401,695.60
1,764.25
$310,093.39
35,667.34
3,145.44
5,601.53
11900,000.00
$2,705,061.86
$1,776,423.59
$1,776,423.59
310,465.10
$2,086,888.69
25,149.39#
$1,690,8,19.78
$138,207.95
1,914.08
$140,122.03
$ 79,056.58
78,573.55
$157;630,13
32,007.32
$189,637.45
5,375.49#
$ 819229.03
52010.57 $800,557.21
394.71 265.47
3,998.90
$52,928.68 $804,821.58
$55,773.16 $696,731.41
7,970.98 3,760.74
$63,744.14 $700;492.15
$63,744.14 $700,492.15
63.554.10#
$16,304.23 $ 69,683.44
$ 11,729.78
$ '499.47
$ 19856.29 $ 14,093.39
F u n d s
$ 6,146.06
$ 11215.07
$ 149884.93
88,,500.00
16.000.00
296,000.00
Park Sinking
75.082.97
15,089.16
54,798.51
$100,229.78
$161499.47
$ 1,856.29 $3109093.39
and
$ 819229.03
Sewer
Liquor
General
Poor
Park
Construction Improvement
Waterworks _
Rental
Dispensary
$ 32,705.31
$ 2,437.92
$ 2,885.14
729296.00.
109935.80
$16,984.83
$ 28,908.11
1,520.19
10,000.00
1,025.500.00
125,184.14
10,134.86
34,225.50
$12,437.92
$ 2,885.14
$ - $1,097,796.00
$136,119.94
$27,119.69
$ 28,908.11
$403,199.49
$ 7,441.10
$36,100.07
$ 379017.59
$ 23.40
723,629.96
21,295.63
108,504.93
8,687.50
2,611.30
1,280.35
1,359.98
5,113.21
6,463.73
9,849.30
88,443.05
$656,808.47
$572,128.60
65,729.86
$637,858.46
8,626.71
$6469485.17
55,680.98
$100,229.78
&MIZ
4,147.50
300.68
1,910.00
580.64'
$ 7,836.87
$ 3,754.46
$ 3,754.46
20.86
$ 3,775.32
$16,499.47
$42,738.21
$60,437.55
11,132.37
$71,569.92
8,830.89
$80,400.81
36.633.75
$ 1,856.29
$ 109024.74
300,000-00
10,024.74
$
3074-42
374.42
378,375.51
$381,749.93
16,592.12
3,353.55
$401,695.60
1,764.25
$310,093.39
35,667.34
3,145.44
5,601.53
11900,000.00
$2,705,061.86
$1,776,423.59
$1,776,423.59
310,465.10
$2,086,888.69
25,149.39#
$1,690,8,19.78
$138,207.95
1,914.08
$140,122.03
$ 79,056.58
78,573.55
$157;630,13
32,007.32
$189,637.45
5,375.49#
$ 819229.03
52010.57 $800,557.21
394.71 265.47
3,998.90
$52,928.68 $804,821.58
$55,773.16 $696,731.41
7,970.98 3,760.74
$63,744.14 $700;492.15
$63,744.14 $700,492.15
63.554.10#
$16,304.23 $ 69,683.44
$ 11,729.78
$ '499.47
$ 19856.29 $ 14,093.39
$ 82,319.78
$ 6,146.06
$ 11215.07
$ 149884.93
88,,500.00
16.000.00
296,000.00
1,608,500.00
75.082.97
15,089.16
54,798.51
$100,229.78
$161499.47
$ 1,856.29 $3109093.39
$1,6909819.78
$ 819229.03
$16,304.23
$ 69,683.44
$108,771.49
$168,771.49
$108,771.49
$ 10.00
$ 10.00
$ 10:00
$ 5,685.09 $ 27,131.01 01,040,879.77 $ 51700.06 $18,902.39 $ 15,503.49
631,065.75 25,851.66
$-5:1685.09 $ 27,131.01• $1,671,945.52 $ 31,551.72 818,902.39 $ 159503.49
700,000.00 6,687,000.00 311,000.00
$ 5,685.09 $727,131.01 $8,358,945.52 $3429551.72 $189902.39 $ 155503.49
-71-
ANALYSIS OF OPERATING EXPENSES AND CAPITAL OUTLAY
VILLAGE OF EDINA
Year ended December 31, 1957
-72-
_ Operating Expenses
Personal
Contractual
Capital Outlay
Total
Total
Services
Commodities
Services
Other
Total
Equipment.
Improvements
General Fund:
General government
1.63,988.97
$ 149,511.14
99,502.61
10,349.04
$16,730.50
$229928.99
$ 14,477.83
$ 61680.89
$ 7,796.94
Engineering.
81,662.95
80,384.10
62,803.45
2,266.87
5,886.95
9,426.83
1,278.85
19278.85
Public works
162,975.55
147,253.58
72049.23
49,538.07
111901:75
13,464.53
15,721497
14,042.97
1,679.00
Police
112,251.30
104,967.60
94,233.22
3,131.54
847.40
6,755.44
7,283.70
7,283.70
Fire service
64,850.80
58,122.11
52,201.87
.969.60
900.42
4,050.22
6,728.69
6,728.69
Central services
52,128.89
31,890.07
14,774.62
43,450.64
15,026.81
( 41,362.00)
20,238.82
20,238.82
637;858.46
$ 572,128.60
$395,865.00
$109,705.76
$51,293.83
$151,264.01
65;729.86
$ 56,253.92
9,475.94
Poor Fund
31754.46
35754.46
3,754.46
-
Park Fund
71,569.92
60,437.55
44,695.96
5,485.99
10,255.60
11,132.37
11,132.37
Park Construction Fund
381,749.93
39374.42
3,374.42
378075.51
378;375.51
Improvement Fund
1,7761423.59
-
1,776;423.59
1,776,423.59
Waterworks Fund
157,630.13
79,056.58 .
24,659.62
38,355.90
16,041.,06
78,573.55
78,573.55
.Sewer Rental Fund
63,744.14.
55,773.16
17,434.83
28,676.02
9,662.31
7,970.98
7,970.98
Liquor Dispensary Fund
700,492.15
696,731.41
46,951.57
635,525.27
14,254.57 _:...
3,760.71
356.78
3,403.96
TOTAL $3,793,222.78
$1,471,256.18
$529,606.98
$789,072.92
$79,969.85
$72,606.43
$2,321,966.60
$154,287.60
$2,167,679.00
-72-
Fund:
Generals
Current
Appropriated
Poor:
Current
Park:
Current
Improvement:
For bonds and interest
For assessment refunds
For construction
Park Construction:
For Construction
Waterworks:
Current
Appropriated
Sewer rental:
Current,
Liquor Dispensary:
-Current
Appropriated
TOTAL
Depository:
First Edina National Bank
First Southdale National Bank
Midland National Bank of
Minneapolis
( ) Indicates deduction.
TOTAL
CASH - ALL FUNDS
VILLAGE OF EDINA
December 31, 1957
Demand For Working
Deposit Deposit Funds Total
$ 11,340.03 $ 39.75 4 11,379.78
$ 350.00 350.00
499.47 499.47
1,856.29 1,856.29
$ 43,202.69 t 49324.29 47026.98
99533.97 99533.97
25.258.83 25.258.83
779995.49 $ 4,324.29 82,319.78
14,093.39 14,093.39
($ 9,267.69) ($ 99267.69)
15,388.75 25.00 15,413.75
$ 6,121.06, $ $ 25.00 $ 69146.06
19215.07 19215.07
$ 11995.44 8119389.49 $ 139384.93
$1,500-00 1,500.00
$71,995-44 $11,389.49 '11,566-66 $ 14,884.93
$115,116.24 $15,753.53 .$1,875.00 $132,744.77
$ 39,461.79
38,356.48
37,297.97
$115,116.24
-73-
SECURITY FOR DEPOSITS
VILLAGE OF EDINA
December 31, 1957
,First Edina National Bank
First Southdale National Bank
Midland National Bank of Minneapolis
Demand Deposits
Books Banks
$39,461.79 $289,085.35
TOTAL $39,461.79 $289,085.35
$38.,356.48 $ 68,943.94
TOTAL $38,356.48 $ 68,943.94
$37,297.97 $635,918.39
TOTAL $37,297.97 .$635,918.39(A)
Note A - At December 31, 1957 checks were outstanding for investments
purchased and transfer of funds to First Edina National Bank
in the amounts of $498,620,42 and $100,Ob0.00 respectively.
-74-
Security for Deposits
Amount
Description
$200,000.00
Unite°d.States Treasury Bonds
June.15, 1959 and 1962
10,000.00
Federal Deposit Insurance Corporation
$210,000.00
$100,000.00
United States Treasury Certificates of Indebtedness
December 1, 1958
10,000,00
Federal Deposit Insurance Corporation
$110.,000.00
$ 15,000.00
City of Moorhead, Minnesota - .Certificates
of Indebtedness 1.9%
February 1, 1964.
35,000,00
Independent School District No, 1, Rice County,
Minnesota, School Building Bonds 2.6%
January 1, 1964
10,000,00
Federal Deposit Insurance Corporation
$ 60,000.00
-74-
INVESTMENTS
VILLAGE OF EDINA
December 31, 1957
Description
United- Staters- Treasury Certif i,cates of Indebtedness
United- States Treasury Certificates of Indebtedness
United States Treasury Certificates of Indebtedness
United States Treasury.Ce 'rtificates of Indebtedness
United States Treasury Notes
United States Treasury Bills
United States Treasury Bills
Village of Edina, Minnesota:
Sanitary Sewer #53 Improvement Bonds
1954 Improvement Bonds
1956 Improvement Bonds
1956 Improvement Bonds
1957 Improvement Bonds
1957 Improvement Bonds
1957 Improvement Bonds
1957 Improvement Bonds
1957 Improvement Bonds
1957 Improvement Bonds
1957 Improvement Bonds
195T Improvement Bonds
1957 Park Bonds
1957 Park Bonds
1957 Park Bonds
1957 Park Bonds
1957 Park Bonds
Fund ownerships
Improvement funds=
Special Assessment Fund's
Improvement Funds
Construction
Debt Service
Waterworks
Sewer Rental
Poor
Park Construction
Liquor Dispen'sary
General
Maturity
February.l49 1958
February 149 1958
February 14, 1958
December 19 1958
February 15, 1959
January 23, 1958
February 20,1958
January
March
March
March
March
March
March
March
March
March
March
March
March
March
March
March
March
1, 1965
1, 1961
1, 1.962
1, 1963
1, 1972
1, 1973
1, 1971
1 197
1, 1975
1, 1976
1, 1978
1, 1979
1, 1968
1,. 1971
1, 1970
1, 1972
1, 1973
TOTAL
Interest
Rate
3 3/8%..
3 3/8
3 3/8
3 3/4
1 7/8
2.55
2.65
3 1/4%
2.4
3.4
3.4
3.7
3.7
3.7
3.9
3.9
3.9
3.9
3.9
3.7
3.7
3.7
3.7
3.7
TOTAL
Balance
January
1, 1957
11,000.00
791,500.00
200,000.00
23.000.00
1,025,500.00
125,000.00
10,000..00
10,000.00
1,.500.00
$1,172,000.00 '
Face
Value
176,000.00
400,000.00
385,000.00
100,000.00
200,000.00
200,000.00
300,000-00
1,761,000.00
$ 5,000.00
5,000.00
48,000.00
48,000.00
65,000.00
65,000.00
10,000.00
8,000.00
6,000.00
20,000.00
7,000.00
10,000.00
1,000.00
10,000.00
5,000.00
40,000.00
40.000-00
393,000-00
$2,154,000.00
Purchased
23,000.00
19342,000.00
1,570,000.00
1,2.000.00
2,977,000.00
125,000:00
15,000..00
21,000.00
596,000.00
55,000.00
_.89;000.00
$3,878,000.00
Sold
16,000.00
779,000.00
1,566,000.00
33.000.00
2,394,000.00
175,000.00
10,000.00
15,000.00
300,000.00
2.000.00
$2,896,000.00
Balance
December
,31, 1957
$ 18,000.00
1,354,500.00
204,000.00
32.000.00
11608,500.00
75,000.00
15,000.00
16,000.00
296,000.00
55,000.00
88,500.00
$2,154,000.00
Book Value
December
31, 1957
18,000.00
193549500.00
204,000.00
32.000.00
1,608,500.00
75,082-97
15,089.16
16,000.00
296,000.00
549,798-51
88,500000
$291531,970.64
-75-
Taxable valuations
Real estate
Personal property
.TAXABLE VALUATIONS, TAX LEVIES AND RATES
VILLAGE OF EDINA
Tax levies extended:
Extended in year
Collectible in year
General
Parks
Bond.and interest
r 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
December 31,
1957 1956
$19,203,439.00 $17,055,549.00
2,399,635.00 1,626,638.00
TOTAL $219603,074.00 $18,682,187.00
1957
1956
1958.
1957
$ 455,821+.86 $
4229217.43
439206.15
36,430.26.
70,209.99
37,364.37
7,561.08
79472.87
6,480.92.
5,604.66
6,480.92
6,538.77_
TOTAL $ '5899763.92 $
515,62806
21.10
22.60
2.00
1.95
3.25
2.00
.35
.40
.30
.30
.30
.35
TOTAL 27.30
27.60
-76-
ORGANIZATION .
VILLAGE OF EDINA
Year ended December.319
1957
Elected
Term
Re- elected or
Expires
Reappointed to-
December 31.
December 31,
Village Council:
Mayor:
Arthur C. Bredeson
1957
1959
Trustees:
Frank J. Tupa
1957
1960
Emil P. Fronk
1957
Evald C. Bank
19581
Wm. Dickson
1959
John A.*Kohler
1960
Clerk- treasurer:
Gretchen S. Alden (appointed)
1957
1958
fi
Assessor:
Alex Creighton (appointed)
1957
1958
` Constable:
Hilding Dahl
1957
1959
William B.'Hoffman
1958'
Municipal Co urt:
Donald S. Burris, Judge
1962
Irving Iverson, Special Judge
1962
Village Managers
Warren C. Hyde
Appointed
by council
Village Attorneys
Maynard B. Hasselquist
1957
1958
Assistant Village Attorney:
James Hennessey
1957
1958
Walter Gustafson
1957
1958
Engineers
Joseph Man
1957
1958
-77-
•
t
Position
On file with Clerk- Treasurer:.
Blanket position
Clerk- Treasurer (A)
On file with County Auditor:
Assessor
Deputy assessor
do
do
do
do .
do
do
do
do
do
On file with•Secretar of State:
Clerk of Court (A�
OFFICIAL BONDS
VILLAGE OF EDINA
December 31, 1957
Name
Liquor dispensary employees
Gretchen S. Alden (appointed)
Alex Creighton
Earl S. Johnson
William G. Scott
Millicent Towne
Marlys Hawthorne
Yvonne Ford
Winifred Creighton
Gladys Ahlberg
Elizabeth Covnick
Marie C. Dyregrov
Neomi Larson
Margaret Lindberry (appointed)
Note A - Official bonds for,Village Clerk- Treasurer and Clerk of Court
were not obtained until February 18, 1958 and March 22, 1954
respectively.
Term Expires
_:Bond Expires
Amount
surety
January
28,:1958
$10,000.00.
Indemnity Insurance Company
of North America
December
31,'1958
„
February
13,-1959
25,000.00
Aetna Casualty & Surety Company
'December
31,
1958
December
31,
1958
500,00
Anchor Casualty Company
May
1,
1958
May
19
1958
500.00
do
do
do
500,00
do
do
do
500.00
do
do
do
500.00
do
do
do
500,00
do
do
do
500,00
do
do
do
500.00
do
do
do
500.00
do
do
do
500.00
do
do
do
500.00
do
December
31,
1958 -
March
22.,
1959
1,000.00
Aetna Casualty & Surety
Company
-78-
MUNICIPAL. COURT FINES
VILLAGE OF EDINA
Year ended December 31,1957
-79-
State and
Village
County
Total
Fines and costs imposed and collected:
Balance uncollected January 1, 1957
$ 579..00
$ -
579.00
Fines and costs imposed
62 20 .80
1 081. 0
63,286.30
62,783.80
1,081.50
63,865.30
Collections by Clerk of Court
62,123.50
1,081.50
63,205.00
Balance uncollected December 31, 1957
660.30
$ -
660.30
Fines due to county and state from
General Fund:
Balance January 1, 1957
-
Fines and costs imposed
1 106.50
1;106.50
Payments to County and State:
Clerk of Court
1,081.50
Balance
at December 319,
1957
25..00
-79-
INSURANCE
VILLAGE OF EDINA
December 31, 1957
Buildings and contents:
Village Hall
�* Tool house - 5150 Brookside
Municipal liquor store - 50th Street
Water tower - Concord Avenue
Pump house #1
Pump house #2
Pump house #3,
Pump house #4
Library 4120 West 50th Street
House - 6533 Warren Avenue
Fire and Extended Coverage
Buildings Contents Other
$205,000.00(A) $259000.00(A)
25,000.00(A) 149000.00(A)
30,000.00(A) 5,000.00(A)
75,000.00 (B)
200000(A) 2,000.00(A)
1000.00(A) 51000.00(A)
39250.00(A) 39000.00(A)
39700.00(A) 69000.00(A)
209000.00(A)
79500.00(C)
Inventories.:
Liquor store - 50th Street
Liquor store - Southdale (including contents)
Automotive:
Public liability
Property damage
Comprehensive
R Village liquor stores
4 Comprehensive glass b
Burglary, robbery and
Burglary, robbery-and
Burglary, robbery and
Business interruption
r
reakage
theft - within premises - Note E.
theft - outside premises - Note E
theft - merchandise - Note E
- 50th Street
Other insurances
General liability:
Automobile non - ownership,
'independent contractor and
Village premises.- operations;
Public liability
Property damage
Workmen's compensation
Edina'Volunteer.Fire Department group accident policy,
maximum each fireman
Property floater all risk - voting machines
Note A - 80% coinsurance.
Note B - 909 coinsurance.
Note C - M coinsurance.
Note D - 50% coinsurance.
Note E - 50th and Southdale liquor stores.
$1159000.00(C)
50,000.00(B)
$100 / 300,000.00
50,000.00
Stated value approximate
to actual cash value
Actual
5,000.00
5,000.00
5,000.00
509,000.00(D)
100 / 300,000.00
50,000.00
Statutory
3,000.00
38,275.00
0