HomeMy WebLinkAbout1958 Financial StatementsSTART OF.,
ORIGINAL
POOR
QUALITY
DOCUMENT
11
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AUDITED FINANCIAL STATEMENTS
AND'OTHER "FINANCIAL INFORMATION
VILLAGE OF EDINA, MINNESOTA
December 31, 1958
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N :M,
J
• � re
INDEX
ACCOUNTANTS' REPORT ON AUDITED FINANCIAL STATEMENTS.......... PAGE. 3
COMMENTS AND ACCOUNTANTS' REPORT ON OTHER
FINANCIAL INFORMATION......... 4
FUNDBALANCE SHEETS ........... ........ .I...................... 14
GENERAL FUND:
BALANCESHEET ............... ............................... 16
STATEMENTOF SURPLUS ........ ............................... 17
ANALYSIS OF CHANGE IN CASH BALANCE ........ : .............. .. 18
REVENUE.................................................. 19
EXPENDITURES................ ............................... 20
FIXEDASSETS ............................. 25
POOR FUND:
BALANCESHEET ............... ............................... 26
STATEMENT OF SURPLUS - UNAPPROPRIATED ...................... 27
STATEMENTS OF REVENUE AND EXPENDITURES ..................... 27
ANALYSIS OF CHANGE IN CASH BALANCE ......................... 28
PARK FUND:
BALANCESHEET .............................................. 29
STATEMENT OF UNAPPROPRIATED SURPLUS ........................ 30
ANALYSIS OF CHANGE IN CASH BALANCE ......................... 31
REVENUEAND EXPENDITURES .... ............................... 32
FIXED ASSETS...........: ... ............................... 34
SWIMMING POOL FUND:
BALANCE SHEET. 35
STATEMENTOF SURPLUS......... ............................ 36
ANALYSIS OF CHANGE IN CASH BALANCE ......................... 37
STATEMENT OF INCOME AND EXPENSE ............................ 38
FIXEDASSETS ............................................... 39
PARK SINKING FUND:
BALANCESHEET ................ ............................... 40
STATEMENT OF SURPLUS ....................................... 41
ANALYSIS OF CHANGE IN CASH BALANCE ......................... 42
BOND AND INTEREST MATURITIES, DEFERRED TAX LEVIES,
AND RESERVE FOR UNCOLLECTIBLE TAXES ....................... 43
PARK CONSTRUCTION FUND:
BALANCESHEET ............... ............................... 44
ANALYSIS OF RESERVE FOR CONSTRUCTION ....................... 45
ANALYSIS OF CHANGE IN CASH BALANCE ....................:.... 46
FIXEDASSETS ................ ............................... 47
INDEX (Cont'd)
IMPROVEMENT FUNDS:
COMBINEDBALANCE SHEET ...... ............................... PAGE 48
STATEMENT OF SURPLUS - UNAPPROPRIATED ...................... 49
ANALYSIS-OF CHANGE IN CASH BALANCE ......................... 50
BONDSPAYABLE ............... ............................... 52
WATERWORKS FUND:
BALANCESHEET................................................. 53
NOTES TO BALANCE SHEET ................... 54
STATEMENTOF SURPLUS ........ ............................... 55
STATEMENT OF INCOME AND EXPENSE ............................ 56
ANALYSISOF CHANGE IN CASH BALANCE ......................... 58
FIXED. ASSETS ......................... ..................... 59
SEWER RENTAL FUND:
BALANCESHEET .............................................. 60
STATEMENT OF SURPLUS.......:.'......... 61,
STATEMENTSOF INCOME AND EXPENSE ........................... 62
ANALYSIS OF CHANGE IN CASH BALANCE ......................... 63
FIXEDASSETS ................ ............................... 64
LIQUOR DISPENSARY FUND:
BALANCESHEET ............... ...............................
65
STATEMENTOF SURPLUS ............................ .........
66
COMPARATIVE STATEMENT OF INCOME. AND EXPENSE ................
67
COMPARATIVE OPERATING EXPENSES.... ......................
68
FIXEDASSETS ................ ...............................
69
GENERAL:
CASH- ALL FUNDS ............ ...............................
70
SECURITYFOR DEPOSITS ....... ...............................
71
INVESTMENTS.................. ..... ..... ..............
72
TAXABLE VALUATIONS, TAX LEVIES AND RATES ...................
73
MUNICIPALCOURT FINES ....... ...............................
74
OFFICIALBONDS .............................................
75
INSURANCECOVERAGE ................ .. ...................,
76
ORGANIZATION................ ...............................
77
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ACCOUNTANTS - AUDITORS
MANAGEMENT SERVICES
ERNST & ERNST
FIR5T NATAL -SOO LINE BLDG.
MINNEAPOLIS 2, MINN.
ACCOUNTANTSt REPORT. ON AUDITED FINANCIAL STATEMENTS
To the Village Council
Village of Edina, Minnesota
OFFICES IN PRINCIPAL CITIES
ASSOCIATES IN FOREIGN COUNTRIES
We have examined the balance sheets of the various funds of the
Village of Edina; Minnesota as of December 31, 1958 and the,ielated state-
ments of revenues and expenditures of income and expense and surplus for
the year then ended. Our examination was made in accordance with generally
accepted auditing standards, and accordingly included such tests of the
accounting records and such other auditing procedures as we considered
necessary in the circumstances.
In our opinion, the accompanying balance sheets and statements
of revenues and expenditures, income and expense and surplus present fairly
the financial position of the Village of Edina at December 31,.1958 and its
various special funds and the results of their operations for the year then
ended, in conformity with generally accepted accounting principles applied
on a basis consistent with that of the preceding year.
Minneapolis, Minnesota
May 19,, 1959
Certified Public Accountants
-3-
ERNST & ERNST
FIRST NATAL -500 LINE BLDG.
MINNEAPOLIS 2, MINN.
ACCOUNTANTS - AUDITORS
MANAGEMENT SERVICES
.COMMENTS AND ACCOUNTANTS' REPORT
ON'OTHER FINANCIAL INFORMATION
Village of Edina
Edina., Minnesota
OFFICES IN PRINCIPAL CITIES
ASSOCIATES IN FOREIGN COUNTRIES
The audited financial statements of the various funds of the Village
consisting of balance sheets and statements of revenues and expenditures or
income and expense, and surplus and our report thereon are presented in appro-
priate sections of this report. Financial information not specifically referred
to above and financial information contained in the following comments is not
considered necessary for a fair presentation of the financial position and
results of operations and is submitted for analytical purposes only. The infor-
mation shown in the schedules of security for deposits, taxable valuations, tax
levies and rates, official bonds, insurance coverage and organization as pre-
sented in the general section of this report was obtained from non - accounting
records of the Village or made available to us by the Village, but we did not
make independent audit. of -them as they do not involve information which enters
into the financial statements. Other information was derived from the account-
ing records tested by us as a part of the auditing procedures followed in our
examination of the aforementioned audited financial statements and, in our
opinion, is fairly presented in all material respects in relation to the finan-
cial statements taken as a whole.
The following comments set forth certain auditing procedures and other
matters pertinent to our examination:
Cash on deposit at December 31, 1958 was reconciled to balances
reported directly to us by the various depositories. Cash on hand at December
31, 1958 for subsequent deposit was also verified to us by the depositories
receiving the cash after December'31, 1958. Cash working funds were counted by
US.
Our cash work also included inspection of claims for selected periods
as a review of procedures used in approval of various -types of claims by the
Council.
Government and Village of Edina securities held for investment were
inspected by us, and computation of interest income therefrom was tested by us.
Amounts receivable from water and sewer rental charges at December 31,
1958 were tested by direct correspondence and by review of the records for sub-
sequent collections. Differences reported were explained to our satisfaction.
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.Current and delinquent taxes and special assessments and tax settlements
received during the year were confirmed by direct correspondence with the County
Auditor. We reviewed delinquent taxes reported to us and adjusted the balances
to conform to the County'Auditor's balances. Transactions pertaining to special
assessments receivable were reviewed.
Interfund transfers and charges and interfund balances were reviewed
by us.
We were present at the municipal liquor stores at the time physical
inventories were taken. We observed procedures being used by the Village employees
during inventory taking and made test counts of quantities. Inventory valuations
were tested by reference to vendors.' invoices and by tests of clerical accuracy.
Major additions to the fixed asset accounts were reviewed by us and
verified by inspection of invoices or other data. Depreciation charges in the
operating funds were reviewed by us.
Accounts payable were tested-by direct correspondence and by reference
to disbursements subsequent to December 31, 1958.
We inspected canceled bonds and interest coupons redeemed and paid
during the year.
Minutes of meetings held by the Council during the year were read by us.
Copies of licenses and permits issued during the year were compared with
recorded collections. Municipal court fines were verified by inspection of court
dockets. Claims and official receipts were compared to the cash records of the
Village during the course of our support of operations.
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 16 to 25.
POOR FUND
Reference is made to detailed schedules elsewhere in this report as to
operations of this fund. Such details appear on pages 26 to 28.
PARK' FUND
Reference is made to detailed schedules elsewhere in this report.as to
operations of this fund. Such details appear on pages 29 to 34. Transactions.of
this fund are summarized as follows:
Operations:
Revenue .$79.,746.1.2
Expenditures 68,430.13.
Gain ftom operations- $11,315,99
Deficit at January 1, 1958 178.801
$11,137,19
Expenditure for fixed assets acquired from unappropriated
surplus transferred to fixed asset-surplus 5,997.15
Unappropriated surplus at December 31, 1958 $ 5,140,04
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SWIMMING POOL FUND
In accordance with action of the Village Council, operations.df:.the
swimming pool are reported in a fund separate from other park activities. Detail
schedules. on pages 35 to 39 outline the financial ;-transactions in this'fund'for
the year.
Attention is directed to the net loss of $2,801.45 from swimming pool
operations after provision for interest in the amount of $9,091.09 on bonded
debt incurred for swimming pool facilities. Taxes levied, to be collected in
1958, in the amount of $12,600.00 for interest on park bonds issued for swimming
pool facilities have been credited to this fund and, in accordance with provi-
sions of the budget adopted for 1958, income in the amount of $9,347.00 has been
-� distributed to the Park Fund. Provisions of the budget adopted -for 1959 provide
for the receipt of taxes and for the distribution of income to the Park Fund in
substantially the same amounts as for the year 1958. .
PARK SINKING FUND
Reference is made to detailed schedules elsewhere in this report as to
operations of this fund. Such details appear on pages 40 to 43.
PARK CONSTRUCTION FUND
Reference is made to detailed schedules elsewhere in this report as to
operations of this fund. Such details appear on pages 44 to 47. Transactions
for this fund are summarized as follows:
Balances at January 1, 1958:
Reserve for construction $131,106.6Q
Reserve for authorized expenditures 168,344.00 $299,450.69
Transfer of funds from Liquor Dispensary Fund 75,000.00
Total funds available for park properties $374,450.69
Purchase of park properties 276,002.73
Reserve for construction - balance at December 31, 1958 $ 98,447.96
IMPROVEMENT FUNDS
Reference is made to detailed schedules elsewhere in this report as to
operations of these funds and the related Construction Fund. Such details appear
on pages 48 to 52.
Construction costs incurred by the Village, other than for park purposes,
are accounted for in the Construction Fund which receives the proceeds from sale
of permanent and temporary bonds sold for construction or improvement purposes by
the various improvement funds. Redemption of these bonds is provided for by levies
of special assessments on properties benefitted from the construction or improve-
ments. To facilitate tabulation of these special assessments, interest from date
of final assessment bearing to December 31st is included as part of project costs.
Assessable costs also include a percentage charge in an amount sufficient to
reimburse the Village for actual cost of the engineering department and clerical
personnel whose duties are properly assignable to special assessment projects.
The reserve for assessment adjustments represents the excess of assess-
ments over actual costs incurred, less charges in cases where the actual costs
exceeded the assessments. The reserve for assessment adjustments also includes
determinable costs for financed projects on which work had not been done and
pending final disposition thereof. These balances may be used for refunding
canceled assessments.
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The cash balance of the Construction Fund and advances from other funds
are analyzed and summarized as'follows:
Improvement Funds:
1950 Second Series
1952 First Series
1953 First Series
Sanitary Sewer No. 53
1954 First Series
1954 Second Series
Improvement Bond Redemption
Temporary Improvement
Other funds
Due from other funds:
Permanent Improvement
Revolving
General
Due to other funds:
General
Water
$36,537.98
112.00
Net
Advance
$ 1,036.36
8,055.99
3,507.76
2,070.14
4,685.92
44,061.48
21,179.21
282.293.78
$366,890.64
150,000.00
36,649.98#
$ 1,633.94
1,879.46 3.513.40
NET TOTAL DUE TO OTHER FUNDS
Constructions costs (to be assessed):
Unallocated
$483,754.06
Other unallocated costs
Cash provided: .
Watermain and sewer connection deposits
Escrow deposits for sewer construction
Transfer from General Fund representing
balances in closed special assessment funds
Represented by:
Cash in demand deposits
Cash in time deposits
Construction
in ,Progress
Current
$243,731.37
208.323.33
$452,054.70
2.365.27
$454,419.97
$ 27,781.89
3,077.07
Balance at December 31, 1958
Ca sh
Available
f or
Construction
$ 1,036.36
8,055.99
3,507.76
2,070.14
4,685.92
44,061.48
222,552.16*
73,970.45
85,164.06*
150,000.00
36,649.98*
3,513.40
2,365.27#
1, 568.003
30,858.96
24,735.75
83,360.80.
$ 13,360.80
70.000.00 $ 83,360.80
Construction has been completed for the 1950, 1952, 1953 and first series 1954 and
Sanitary Sewer . #53 Sewer Funds and -.the balances inciated ;(') above should be ,trans -
ferred,.to the .sinking fund, ;accounts -.for the related improvement bonds.
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WATERWORKS FUND
Reference is made to detailed schedules elsewhere in this report as to
operations of this fund. Such details appear on pages 53 to 59. Operations of
this fund may be summarized as follows:
Per Cent to
Increase Gross Income
1958 1957 Decrease* 1958 1957
Gross income $179,419.79 $129,831.98 $49,587.81 100.0% 100.0%
Expenses:
Pumping
Distribution
Tanks and towers
Water treatment
Vehicle operation
Administration and
general
TOTAL OPERATING EXPENSES
OPERATING INCOME
Other income
Other deductions
NET INCOME (LOSS)
$ 36,230.37 $ 33,095.07 $ 3,135.30 20.2% . 25.5%
56,527.31
53,921.21.
2,606.10
31.5
41.5
9,275.97
10,125.78
849.81#
5.2
7.8
7,461.27
7,094.67
366.60
4.2
5.5
3,288.51
3,914.28
- 625.7731
1.8
3.0
18,600.70
17.806.17
794.53
10.3
13.7
$131,384.13
$125,957.18
$ 5,426.95
73.2%
97.0%
$ 48,035.66
$ 3,874.80
$44,160.86
26.8%
3.0%
2,225.84
1,914.08
311.76
1.2
1.5'
$ 50,261.50
$ 5,788.88
$44,472.62
28.0%
4.5%
8,227.15
8,808.13
580.98#
4.6
6.8
$ 42,034.35 ($ 3,019.25) $45,053.60 23.4% ( 2.3 %)
The principal reasons for the increase in net income may be summarized
as follows:
Increase in income:
Water sales $48,677.73
Increase in miscellaneous income items 1.345.78 $50,023.51
Less decrease in meter sales gross profit 435.70
NET INCREASE IN REVENUE $49,587.81
Less increase in expenses:
Pumping
Distribution
Tanks and towers
Water treatment
.Vehicle operation
Administrative
Deoreciation
$ 1,830.26
4,105.18
500.00*
102.70
24.23
98.13
$ 5,660.50
Increase in income from investments
Decrease in miscellaneous deductions
* Indicates reduction.
Maintenance Other Costs
$. 4,124.03# $ 5,429.07
566.53 2,065.61#
- 349.81*
263.90
650.00*
- 696.40
$ 3,557.50# $ 3,323.95 5,426.95
$44,160.86
$ 311.76
580.98 892.74
INCREASE IN NET INCOME $45,053.60
H
SEWER RENTAL FUND
Reference is made to detailed schedules elsewhere in this report as to
operations of this fund. Such details appear on pages 60 to 64. Operations of
this fund may be summarized as follows:
_ Per Cent
Increase to Billings
1958 1957 Decrease* 1958 1957
Billings $57,627.69 $59,379.39 $1,751.70* 100.0% 100.0%
Expenses:
Operating
Vehicle operation
Administrative and
general
OPERATING LOSS*
Other income
NET INCOME -LOSS*
$51,826.98 $51,386.76 $ 440.22 89.9%
1,814.40
2,714.40
900.00*
3.1
4,907.59
5,440.34
532.75#
8.6
$58,548.97
$59,541.50
$ 992.53*
101.6%
$ 921.28*
$ 162.11*
$ 759.17
1.6 %*
199.69 404.48
721.59# $ 2-+2.37
204.79* .3
$ 963.96* 1.3 %*
86.5%
4.6
9.2
100.3%
3 %*
.7
.4%
The statement for the year 1957 has been adjusted to reflect expense reimbursed
by the General Fund in the amount of $1,238.40 previously charged to this fund
in error.
LIQUOR DISPENSARY FUND
Reference is made to detailed schedules elsewhere in this report as to
operations of this fund. Such details appear on pages 65 to 69.• Operations of
this fund may be summarized as follows:
Sales
Cost of goods sold
GROSS PROFIT
Operating expenses
OPERATING INCOME
Other income
NET INCOME
5.907.30
4,264.37
1,642.93
Per
Cent
Year Ended
December 31,
Increase
to Net
Sales
1958
1957
Decrease*
1958
1957
$913,797.64
$800.557.21
$113,240.43
100.0%
100.0%
690,951.76
602,403.71
- 88,548.05
75.6
$222,845.88_
$198,153.50
$ 24,692.38
24.4%
24.8%
73,340.89
66,818.23
6,522.66
8.0
8.4
$149,504.99
$131,335.27
$ 18,169.72
16.4%
16.4%
5.907.30
4,264.37
1,642.93
.6 .5
$155,412.29
----- - - - - --
$135,599.64
----- - - - - --
$ 19,812.65
----- - - - - --
17.0% 16.9%
- - - - -- - - - - - --
N
The factors contributing to the increase in net income can be
summarized as follows:
Increase in gross profit from:
Increase in sales volume
Decrease 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
Other
INCREASE IN NET INCOME
50th Street Southdale Combined
$ 2,738.60 $22,878.22 $25,616.82
227.83# 696.61# 924.44#
$ 2,510.77 $22,181.61 $24,692.38
$ 2,381.97# $ 2,085.46
288.82#
42.90
213.29
42.77
68.13
16.15
99.90#
383.59
265.36
34.70#
3.55#
44.52
86.25
235.00
4,558.27
130.34#
6.00
70.78
1,138.17
205.30
1,133.38#
7,656.04
$ 3,644.15 $14,525.57
$ 489.96' 755.11
3.10 6.63#
486.86# 748.48
$ 3,157.29 $15,274.05
Decrease in leasehold improvements
charged off 3.632.83
$ 3,157.29 $18,906.88
Increase in investment income
AMOUNT TRANSFERRED TO SURPLUS
* Indicates red figure.
$ 296.51#
245.92#
256.06
84.28
283.69
230.66
40.97
321.25
4,558.27
124.34#
70.78
1,343-47
6,522.66
$18,169.72
265.15
$ 261.62
'10 1 t5 , 431.34
3.632.83
$22,064.17
1,381.31
$23,445.48
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GENERAL COMMENTS
SALE OF DOG LICENSES
During April and May, 1958, dog license sales were conducted by the
Police Department at the various schools in the Village and at the Pblice
Department. A cash shortage of $14.00 resulted from sales at the schools and
a cash shortage of $19.00 from sales at the Pblice Department. These shortages
were apparently due primarily from prewriting receipts on basis of written
applications received prior to actual sales and from confusion resulting from
a great number of children .waiting to purchase licenses. As some applicants
did not appear to purchase licenses, the pre-written receipts had to be voided.
Also, in some cases, the amount paid did not correspond to the amount determined
by the application.
The $14.00 shortage was waived by the Village Manager and restitution
has been made by members of the Police Department for the $19.00 shortage. It
is.recommended that in future sales of this type, one person be delegated to
handle cash receipts.
SECURITY FOR DEPOSITS
Security for deposits, as shown by schedule on page 71 of this report,
was inadequate�at twb ,banks to corhply" with -State-`.statutes requiring that deposits
may not exceed 90% of the market value of such collateral.
Balance on deposit
Security for deposit:
Collateral at 90% of
market value
.Federal Deposit Insurance
First Edina
National Bank Citizens State Bank
$1,130,381.73 $301,980.82
$'; 431,718.75 $262,743.75
10.000.00 10.000.00
$ 441,718.75 $272,743.75
Reference is made to the schedule on page 71 for the status of
security for deposits for all bank deposits of the Village.
The excessive balance in the First Edina National Bank was due
principally to the deposit of the proceeds from the sale of Temporary Improve-
ment Bonds totaling $300,000.00 and from the sale of investments totaling
$210,000.00.
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MUNICIPAL COURT
During the year an unexplained. shortage of $42.00 occurred in
Municipal Court receipts. Our examination of the operations of the Municipal
Court revealed no further specific explanation as to the nature of this
shortage; however, several weaknesses in accounting for court funds were
indicated.
The major weakness is in the accounting for traffic tickets issued and
their subsequent disposition by the Court., We suggest that the following pro-
cedures be adopted to strengthen the control in this area:
1. Traffic tag books should be issued -in numerical order and a
record maintained of the officer to which each book is.issued.
2. One copy of the violation ticket should be filed, upon issuance,
in numerical order in a "pending file ".
3.. A numerical sequence register should be maintained to assure that
all tickets issued are being reported in proper sequence by each
officer.
4. -Upon advice from the Court to the Police Department that each
ticket has been docketed and settled, the Police Department
would remove that ticket from the pending file, note docket
number and.date of settlement, and file in the permanent
numerical file.
5. Court copies of tickets should be filed by docket number.
Other recommendations to Court accounting are as follows:
1. The bank account should be reconciled monthly.
2. Bank advices on charges and credits to the bank account should
be recorded in the Court cash books.
3. Checks returned by the bank for insufficient funds, etc. and
subsequent redeposits thereof should be recorded in the Court
cash books.
4. Deposits of Court receipts should be made daily or at least on
the days during which Court sessions are held.
Our examination of the operations of the Municipal Court was extended
through May 15, 1959, the date the new Clerk of Court took office. This exami-
nation disclosed too irregularities in Court accounting, except that three
traffic tickets were unaccounted for.. Discussion with the Police Chief dis-
closed that perhaps two of these tickets were voided and used as samples in
reporting to the Minnesota Safety Council and to the National Safety Council.
-12-
TRANSFERS OF FUNDS
We noted transfer of funds from the Liquor Dispensary Fund.direct to
the Park Construction Fund in the amount of $75,000.00 and the payment directly
by the Liquor Dispensary Fund of the Village's share of Hennepin County Park
District expensesof $1,753.92. In the.interests of better control we again
suggest that such transfers should preferably be made through the General Fund.
PUBLICATION OF FINANCIAL STATEMENTS
The Village has neither published in a newspaper nor in public places
its annual financial.statements . or, in lieu thereof, details of receipts and
disbursements as provided by Minnesota_ statutes relating thereto.
Minneapolis, Minnesota
May 19, 1959.
-eL-4"a- Hrf ���
Certified Public Accountants
-13-
END OF.
ORIGINAL
QUALITY
DOCUMENT
n
ASSETS
Cash:
r Current funds
Appropriated
FUND BALANCE SHEETS
VILLAGE OF EDINA
December 31, 1958
F u n d s
_
Sw'imm'ing Park Park Sewer Liquor
W k Rental Die ensary
Total General Poor Park Pool Sinking Construction Improvement aterwor s p
187,574.10 $
331,109.85
$ 518,683695 $
27,730.32 $12,803,45 $ 17,516.79
27,730.32 $12,803.45 $ 17,516.79
$ 41,742:.25 $ 69586.14 81,195.15
9 2,,.655-99 2,582.96 9 310.604.02 15,266.88
$ 2,655.99 2,582.96 $ 310,604.02 $ 57,009.13 $ 6086.14 $ 81,195.15
Investments:
United States Government
Securities - at face value
or cost 200,593.44 30,254,34 5,000.00
Village of Edina Improvement
Bonds - at cost 713,000.00 5,000.00
Amounts segregated and shown
below ( 30,783.75)
Receivables:
Taxes and special assessments:
Current
Delinquent
Deferred
Customers
Due from other funds
Miscellaneous receivables
Less allowance for delinquent
taxes
Inventories
Prepaid expenses
Segregated securities for reserve
for debt retirement and construc-
tion commitments
Construction in progress
Fixed assets
Unallocated construction cost
$ .1;173,201.31
155,198.65 $ 14,851.89 $ 428.34 $ .1,892.76
7,013,408.71
44,885.70
360,689.23 154,225.73 211.41
5,064.37 1 5,011.57 17.00 3.00
$ 8,752,447,97 $ 174,089.19 $ 445.34 $ 2,107.17
575,978.11 14,851.89 428.34 1,892.76
$.8,176,469.86 $ 159,237.30 $ 17.00 $ 214.41
191,108.14 10,000.00
604.89
30,783.75
673,897.65
4,301,339.14 1,061,319.13 196,744.00
48,335.85
$149824,032.92 $1,288,541.09 $17,820.45 $214,475.20
$ 44,000.00
856.29
1 129 000.00
96,000.00
125,000.00
612,000.00
$1,129,107.11
137,169.37
5,884,408.71
$ 32,923.63 11,962.07
$ 3,508.91 189,000.19 8,325.39 5,417.60
32.80
$ 3,508.91 $1,173,856.29 $ - $7,339,685.38 $ 41,281.82 $17,473..87 $
40,339.10
( 30,783.75)
$ 94.20
65,236.29 493,568.83
$ 3,508.91 $1,108,620.00 $ - $6,846,116,55 $ 41,281.82 $17,473.87 $ -
6',480.09 174,628.05
116.96 1+87.93
30;783.75
184,049.59 481,04.9.12 8,798.94
205,516.44 282,529.89 2,466,188.98 20,287.09 68,753.61
48.335 , 85
$209,025.35 $1,116,275.99 $565,162.44 $8,423,105.54 $2,620,215.02 $44,347.10 $325,064.74
-14-
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
.Surplus:
Invested in fixed assets
Appropriated:
For imprest cash
For.debt service
For, Improvements
Unappropriated
( ) Indicates deduction.
4,183,163.57
350.00
46;025.63
7,500.00
- 848, 230.76
$1498249032.92
1,061,319.13 196,744.00
350.00
7,500.00
135,841.4 6, 17.689.32 5.140.04
$1,288,541.09 $179820.45 $214,475.20
205,516.44 1 466,579.48 ' 2,163,987.92 20,287.09 68,729.51
46,025.63
3,297.50 19.517.08 _ 350.564.14 91_ .935.29 1.058.50 223,187,Q
$209,025.35 $1,116,275.99 $565,162.44 $8,423,105,54 $2,620,,215.02 $44,347.10 $325,064.74
-15-
F u
n d s
Swimming Park
Park
Sewer
Liquor
Total
General Poor
Park
Pool Sinking
Construction
Improvement
Waterworks
Rental
Dispensary
$ 360;689.23
32,367.98 $
1,573.29
$ 211.41 $ 3,508.91
$ 322,131.14
$ 802400
94.50
.104,046.85
34,918.84 $ 131.13
2,716.60
135.00
8,617.49
3,403.60
$22,689.99
31,434.20
6,14.5.86
2,339.94
1,470.56
404.74.
311.52
1,619.10
402,.57
402.57
11,581.45
11,581.45
94,911.92
26,430.00
65,826.08
2,655.84
30,127.29
2,345.40
27,781.89
11,558..34
11,558.34
26,629.15
6,629.15
2
15,406.30
15,406:30
6, 830:71
6,830i.71
366,820.00
366,820.00
8,448,000.00
700,000.00
7,437,000.00
311,000.00
132,429.58
132,429.58
123,183.71
98,447.96
24,735.75
4,183,163.57
350.00
46;025.63
7,500.00
- 848, 230.76
$1498249032.92
1,061,319.13 196,744.00
350.00
7,500.00
135,841.4 6, 17.689.32 5.140.04
$1,288,541.09 $179820.45 $214,475.20
205,516.44 1 466,579.48 ' 2,163,987.92 20,287.09 68,729.51
46,025.63
3,297.50 19.517.08 _ 350.564.14 91_ .935.29 1.058.50 223,187,Q
$209,025.35 $1,116,275.99 $565,162.44 $8,423,105,54 $2,620,,215.02 $44,347.10 $325,064.74
-15-
GENERAL FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1958
ASSETS
Cash:
Demand deposits
$ 27,380.32
Working funds
350.00
$ 27,730.32
United States Government securities -
at cost
30,254.34
Receivables:
Due from other funds:
Park Fund
$ 1,573.29
Construction Fund
1,633.94
Liquor Dispensary Fund
94.50
Waterworks Fund
802.00
1950 Improvement, First and Third
Series
42.50
1950 Improvement, Second Series
79.50
$ 4,225.73
Accounts receivable
5,011.57
9,237.30
Supply inventory - estimated.
10,000.00
Advance to Construction Fund
150,000.00
Taxes receivable - delinquent
$ 14,851.89
Less allowance for delinquent taxes
14,851.89
-
Fixed assets
1,061,319.13
$1,288,541.09
LIABILITIES
- Due to other funds:
Waterworks Funds
$ 6,445.93
Construction Fund
112.00
Sewer Rental Fund
5,417.60
1950 Improvement, First and Third Series
1,446.21
Sanitary Sewer No. 53
6,859.50
Improvement Bond, Redemption
12,086.74
$ 32,367.98
Accounts payable:
Trade accounts
$ 34,918.84
Accrued pay roll
2,339.94
Edina Firemen's Relief Association
11,558.34
Sundry deposits
2,345.40
51,162.52
Appropriated surplus:
Invested in fixed assets
$992,294.92
Contributed - invested in fixed assets 69,024.21
$1,061,319.13
Reserve for commitments
7,500.00
For•imprest cash
350.00
1,069,169.13
- Surplus - unappropriated
135,841.46
$1,288,541.09
-16-
GENERAL FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year ended December 31, 1958
Contributed
$ 68,699.21
325.00,
0 (Oy,U;14.21
$820,465.27
772,319.55
For Imprest
Cash
350:00
For
Improvements
$ 19,850.00
( 12,350.00)
$ 350.'00 $ 7,500-00
.$126,236.25
$48,145.72
10,000.00 58,145.72
$184,381.97
$20,392.45
1,288.40
26,859.66 48,540.51
Balance at December 31, 1958 $135,841.46
-17-
Invested in
Total
Fixed Assets
APPROPRIATED
Balance at January 1,1958
$1,008-,994. ,03
$920,094.82
Additions (deductions):
Transfers from unappropriated surplus: -
For fixed assets - net
77,298-.08
76,973.08
Fixed assets retired
( 4;772.98).
( 4,772.98)
For improvements
( 12,350.00)
Balance at December 31, 1958
$1,069,169.13
$992,294.92
UNAPPROPRIATED
Balance at January 1, 1958
Additions:
Revenue - see separate schedule
Less expenditures -'see separate schedule
Estimated value,of. supply inventories
Deductions:
Special assessments on park property -
transferred to Park Fund
Cost of storm sewer maintenance for 1957 due to
Sewer Rental Fund
General Fund share of construction- costs
Contributed
$ 68,699.21
325.00,
0 (Oy,U;14.21
$820,465.27
772,319.55
For Imprest
Cash
350:00
For
Improvements
$ 19,850.00
( 12,350.00)
$ 350.'00 $ 7,500-00
.$126,236.25
$48,145.72
10,000.00 58,145.72
$184,381.97
$20,392.45
1,288.40
26,859.66 48,540.51
Balance at December 31, 1958 $135,841.46
-17-
GENERAL FUND
ANALYSIS OF CHANGE IN
CASH BALANCE
VILLAGE OF EDINA
Year ended December
31, 1958
Balance at January 1, 1958
$ 11,379.78
Additions:
Receipts - per separate schedule
$796,058.24
Sale of investments
88,500.00
Collections of amounts due others:
Waterworks Fund
$ 6,445.93
Edina Firemen's Relief Association
11.558.34
18,004.27
Collection made on accruals at
• December 31, 1957
3,977.96
Donations for dedicated purposes
14.60
906.555.07
$9179934.85
Deductions:
Disbursements - per separate schedule
$7239678.33
Investments purchased
309254.34
Charges to accounts receivable and
other funds
3,321.51
Payment on accruals at December 31, 1957:
Accounts payable
$15,132.93
Accrued payroll`
19648.36
Due to other funds
459312.60
Consumers' deposits
50.00
Edina Firemen's Relief Association
9.849.30
71,993.19.
Payment on contracts payable
34,447.50
Cost of Village share of construction
projects
26,859.66
890.554.53
Balance
at December
31, 1958
$ 279380.32
_Ig_
GENERAL FUND
R EV ENU E
VILLAGE OF EDINA
Year ended December 31, 1958
* Indicates red figure.
019-
Actual
•
Revenue
Over - Under:*
Actual
Estimated
Estimated
Receipts
Accruals
Revenue
Revenue
Revenue
Real and personal property taxes
$452,461,86
$452,461.86
$455,828.00
$ 3,366.14#
Other taxes
16,114.10
16,114.10
9,400.00
6,714.10
Bicycle licenses
2,134.75
2,134.75
400.00
1,734.75
Beer.and liquor licenses
1,470.00
1,470.00
1,200.00
- 270.00
Cigarette licenses
654,00
654.00
500.00
154.00
Dog and impounding fees
4,157.50
4,157.50
3,000.00
1,157.50'
Food and soft drinks
840.00
840.00
700.00
140.00
Gas pump licenses
695.00
695.00
600.00
95.00
Other business licenses
1,527.00
1,527.00
1,700.00
173.00#
Plumbing licenses
2,275.00
2,275.00
2,200.00
75.00.
Scavenger and garbage collectors licenses
535.00
535.00
100.00
435.00
Building permits
20,801.00
20,801.00
17,000.00
3,801.00
Cesspool and sewer permits
4,602.00
4,602.00
1,700.00
2,902.00
Plumbing permits
8,171.40
8,171.40
4,000,00
4,171.40
Sign permits
3,338.58
3,338.58
2,000.00
1,338.58
Street opening fees
38.00#
$ 802.00
764.00
500,00
264,00
Heating permits
4,000.00
4,000.00 #.
Electrical permits
4,000,00
4,000.00#
Engineering,clerical -and services
89,534.12
122.00
88,656.12
90,000.00
1,343.88#
Police service
3,750.00
1,250,00
5,000.00
5,000.00
-
Repairs after construction
267.33
267.33
3,000.00
2,732.67 *.
Registration fee
.6.00
6.00
10.00
4.00#
Equipment rental
13,125.65
13,125.65
59000.00
8,125.65
Municipal court fines
53,564.60
53,564.60
45,000.00
8,564.60
Income on investments
30.72
30.72
30.72
Board and'room prisoners.
.482.70
252.45
735.15
700.00
35.15
State apportionment - highways
18,270.00
2,030.00
20,300.00
20,000.00
300.00
State apportionment - liquor and cigarettes
20,996.49
20,996.49
19,000.00
1,996.49
.Contribution from Liquor Fund
62,500.00
62,500.00
62,500.00
-
Charges to other funds
7,500.00
7,500.00
7,500.00
-
- Sale of properties
190.00
190.00
1,000.00
810.00#
Discounts
493.99
42.37
536.36
536.36
Miscellaneous revenue
5,527.30
58.21
5,585.51
500.00
5,085.51
Workmen's compensation dividend
1,080.15
1,080.15
1,080.15
Reserve for improvements
19,850.00
19,850.00
19,850.00
-
TOTAL $796,058.24
$24,407.03
$820,465.27
$787,888.00
$32,577.27
* Indicates red figure.
019-
GENERAL FUND
EXPENDITURES
VILLAGE OF EDINA
Year ended December 31, 1958
-20-
Expenditures
Unexpended
Disbursements
Encumbrances
to Date
Appropriations
Balance
GENERAL GOVERNMENT
Mayor and Council.
$ 7,312•,50
$
2,500.00
$ 9,812,50
$ 9,860.00
$
47.50
Planning
7,621.77
3.00
7,624.77
7,700.00
75.23
Administration:
Personal services
$ 32,833.93
$ 32,833.93
$ 3.2,940.00
$
106.07
Contractual services
4,867,39
$
276.43
5,143.82
5,450,00
306.18
Commodities
78.17
78.17
100.00
21.83
Fixed charges
5,760.00
5,760.00
5,760.00
-
Total Administration
$ 43,539.49
$
276.43
$ 43,815.92
$ 44,250.00
$
434.•08
Finance:
Personal services
$ 21,900.00
$ 21,900.00
$ 21,900.00
$
-
Contractual services
4,545.35
$
6.00
4,551.35
4,560.00
8.65
Commodities
3.40
3.40
1 40.00
36.60
Fixed charges
3,300.00
3,300.00
3,300,00
-
Total Finance
$ 29,748.75
$
6.00
$ 29,754.75
$ 29,800.00
$
45.25
Municipal Court:
Personal services
$ 13,040 -.35
$ 13,040.35
$ 13,150,00
$
109.65
Contractual services
2,504.07
$
147.95
2,652.02
3,080.00
427.98
Commodities
2:52,40
360.25
612.65
625.00
12.35
Fixed charges
2,280.00
2,280.00
2,280.00
-
Total Municipal Court
$ 18,076.82
$
508.20
$ 18,585,02
$ 19,135.00
$
549.98
Election
4,286.82
13,09
4,299.91
8,250,00
3,950,09
Assessing:
Personal services
$ 19,795.45
$
380.00
$ 20,175.45
$ 20,180.00
$
4.55
Contractual services
1,819.99
51.80
1,871.79
1,900.00
28.21
Commodities
3:58.18
358.18
400,00
41.82
Fixed charges
1,500.00
1,500.00
1,500,00
-
Total Assessing
$ 23,473.62
431.80
$ 23,905.42
$ 23,980,00
$
74.58
Legal services
10,755.92
2,786.91
13,542.83
15,035.00
1,492.17
Library
2,969.16
162.30
3,131.46
3,240,00
108.54
TOTAL GENERAL GOVERNMENT
$147,784.85-
$
6,687.73
j $154,472.58
$161,250,00
$
6,777.42
ENGINEERING
Personal services
$ 66,084.72
$ 66,084.72
$ 66,565.00
$
480.28
Contractual services
6,562.27
$
122.00
6,684.27
7,150.00
465.73
Commodities
1,542.10
140.69
1,682.79
1,700.00
.17.21
Fixed charges
91990.00
9,990,00
9,990,00
-
TOTAL ENGINEERING
$ 84,179.09
$
262.69
$ 84,441.78
$ 85,405,00
$
963.22
-20-
GENERAL FUND
EXPENDITURES (Cont.'d)
PUBLIC WORKS
Administration and overhead:
Personal services:
Supervision and clerical
Paid leave
Yard and shop
Contractual services
Commodities
Fixed charges
Total Administration and Overhead
Work orders:
.Personal services
Commodities
Total Work Orders
Street maintenance:
Personal services
Contractual services
Commodities
Fixed charges
Total Street Maintenance
Boulevards and turn=a- rounds - trees:
Personal services
Commodities
Fixed charges.
,Total Boulevards and Turn -A- Rounds -Trees
Street lighting
Street name signs:
Personal services
Commodities
Fixed charges
Traffic control:
Personal services
Contractual services
Commodities
Fixed charges
Traffic marking
Traffic safety:
Personal services
Commodities
Fixed charges
Total Street Name Signs
Total Traffic Control
Total Traffic Safety
-21-
Expenditures
Unexpended
Disbursements
Encumbrances
to Date
Appropriations
Balance
13,960.25
132.16
$
14,092.41
$
14,100.00
$
7.59
109439.23
618.32
119057.55
119100.00
42.45
2.409.51
14:12
2,423.63
2,500.00
76.37
$
269808.99
764.60
$
27,573.59
$
279700.00
126.41
101.60
101.60
125.00
23.40
14.59
14.59
50.00
35.41
10,080.00
10,080.00
37,005.18
$
764.60
$
379769.78
_10,080.00
37,955.00
185.22
$
239.54#
$
239.54
$
-
1,850.88*
1,850.88
-
-
$
"2,090.42#
$
2,090.42
$
-
$
-
$
-
$
31,988.59
$
651.36
$
32,639.95
$
33,000.00
$
360.05
600.43
600.43
700.00
99.57
24,660.86
24,660.86
249899.00
238.14
8,700.00
_
8,700.00
8,700.00
-
$
65,949.88
$
651.36
$
66,601.24
$
67,299.00
$
697.76
$
79338.26
$
7,338.26
$
7;400.00,
$
61.74.
986.65
986.65
1,020.00
33.35•
1,100.00
1,100.00
1,100.00
-
$
99424-91
$
-
$
9,424.91•
$
9,520.00
$
95.09
31,093.50
57.52
319151.02
31,300.00
148.98
$
29334.01
$
28.32
$
29362.33
$
2,400.00
$
37.67
1,701.74
37.30
1,739.04
1,750.00
10.96
300.00
300.00
300.00
-
$
4,335.75
$
65.62
$
4,401.37
_
$
49450.00
$
_
48.63
$
1,255.58
$
28.32
$
1,283.90
$
19500.00
$
216.10
29695.87
205.86
29901.73
3,000.00
98.27
812.38
366.44
1,178.82
1,200.00
21.18
550.00
550.00
550.00
_ -
$
59313.83
$
600.62
$
"5,914.45
$
69250.00
$
335.55
2,253.65
2,253.65
29300.00
46.35
$
820.12
$
820.12
$
900.00
$
79.88
770.28
$
17.22
787.50
900.00
112.50
575.00
575.00
575.00
-
$
2,165.40
$
17.22
$
2,182.62
$
2,375.00
_
$
_
192.38
-21-
i
GENERAL FUND
EXPENDITURES (Cont'd)
Expenditures
Unexpended
Disbursements
Encumbrances
to Date
Appropriations
Balance
PUBLIC WORKS (Cont"d)
Street cleaning:
' Personal services
$ 2,976.27
$ 2,976.27
$ 3,000,00
$
23.73
Commodities
1,246.44
1,246.44
1,300.00-
53.56
Fixed charges
2,300.00
2,300,00 .
2,300.00
-
Total Street Cleaning
$ 6,522.71
$
-
$ 6,522.71
$ 6,600.00
$
77.29
Permanent drainage:
Personal services
$ 1,378.00
$
2,147.07
$' 3,525.07
$ 3,600.00
$
74.93
Contractual services
75.00
75.00
100.00
25,00
Commodities
1,348.39
1,982.13
3,330.52
3,400,00
69.48
Fixed charges
300.00
300.00
300.00
-
Total Permanent Drainage
$ 3,101,39
$
4,129.20
$ 7,230.59
$ 7,400,00
$
169.41
Temporary drainage:
Personal services
$ 1,120.30
$ 1,120.30
$ 1,200.00
$
79.70
Contractual services
100.00
100.00
Commodities
641.75
641.75
700..00
58.25
Fixed charges
2,250.00
2,250.00
2,250.00
-
Total Temporary Drainage
$ 4,012,05
$
-
$ 4,012.05
$ 4,250.00
$
237.95 _
Snow and ice removal:
Personal services
$ 1,903.59
$
23.60
$ 1,927.19
$ 3,450,00
$
1,522.81
Commodities
1,354.16
73.11
1,427.27
2,000.00
572.73
Fixed charges
5;000.00
5,000.00
5,000.00
-
Total Snow and Ice Removal
$ 8,257.75
$
96.71
$ 8,354-46
$ 10,450,00
$
2,095.54
Weed control:
Personal services
$ 640.64
$ 640.64
$ 800.00
$
159.36
Commodities
621.60
621.60
700.00
78.40
Fixed charges
700.00
700.00
700.00
-
Total Weed Control
1,962.24
$
-
$ 1,962.24
$ 24200.00
237.76
TOTAL PUBLIC WORKS
$179,307.82
$
8,473.27'
$187,781.09
$192,349.00
$
4,567.91
PROTECTION OF PERSONS AND
PROPERTY
Police department:
Personal services
$104,261.08
$104,261.08
$104,381.00
$
119.92
Contractual services
1,790.23
$
91.70
1,881.93
1,978.00
96.07
Commodities
1,814.97
134.98
1,949.95
2,000.00
50.05
Fixed charges
17,240.00
17,240.00
17,240.00
-
Total Police Department
$125,106.28
$
226.68
$125,332,96
$125,599.00
$
266.04
,. Fire department:
Personal services
$ 58,584.98
$ 58,584.98
$ 58,630,00
$
45.02
Contractual services
1,308.33
$
21.63
1,329.96
1,350,00
20.04
Commodities
1,437.33
44.05
1,481.38
1,500.00
18.62
Fixed charges
7,200.00
_
7,200.00
7,200.00
-
Total Fire Department
$ 68,530.64
$
65.68
$ 68,596.32
$ 68,680,00
$
83.68
-22-
GENERAL FUND
EXPENDITURES (Cont'd)
-23-
Expenditures
Unexpended
Disbursements
Encumbrances
to Date
Appropriations
Balance
PROTECTION OF PERSONS AND PROPERTY (cont'd)
Civilian defense
525.22
$ 525.22
550,00
$ 24.78
Public health
1,601.84
1,601.84
1,650,00
48.16
Animal control
2,722.69
$ 310.35
3,033.04
3,100.00
66.96
Inspection:
Personal services
$ 11,673.10
11,673.10
$ 11,760.00
86.90
Contractual services
305.36
$ 19.18
324.54
417.00
92.46.
Commodities
115.90
115.90
125.00
9.10
Fixed- "charges
2,260.00
2,260.00
2,260.00
-
Total Inspection
$ 14,354.36
$ 19.18
14,373.54
$ 14,562.00
$ 188.46
TOTAL PROTECTION OF PERSONS AND PROPERTY
$212,841.03
$ 621.89
$213,462.92
$214,141.00
$ 678.08
MISCELLANEOUS AND CONTINGENCIES
Contingencies
$ 236.55
$ 1,013:00
$ 1,249.55
$ 750.00
$ 499.55#
Settlement of suits
100:00
100.00
Special assessments on park property
13,366.24
13,366.24
13,600.00
233.76
Grants to other funds
21,223.00
21,223.00
21,223.00
TOTAL-MISCELLANEOUS AND CONTINGENCIES
$ 34,825.79
$ 1,013.00
$ 35,838.79
$ 35,673.00
$ 165.79#
CENTRAL SERVICES
See separate schedule attached
9,823.20
4,526.11
14,34 .31
14,74.00
395.69
TOTAL OPERATING EXPENSES
$668,761.78
$21,584.69
$690,346.47
$703,563.00
$13,216,53
CAPITAL OUTLAY
General government
$ 923.80
$ 923.80
$ 950.00
$ 26.20
Finance
625,00
625.00
625.00
-
Municipal court
212,50
212.50
220.00
7.50
Assessing
1,666.01
1,666.01
1,725.00
58.99
Engineering
1,881.18
$ 3,444.98
5,326.16
5,425.00
98.84
Public works
14,099.12
17,196.55
31,295,67
32,925.00
1,629.33
Police
8,589.58
8,5.89.58
8,900.00
310,42
Fire
22,171.78
22,171.78
22,275.00
103.22„
Village garage
959.52
959.52
1,500,00
540.48
Inspection
1,41.5.00
1,415.00
1,425.00
10.00
Central service
3,188.03
3,188.03
2,655.00
533.03#
Special assessments on general property
600.03
600.03
700.00
99.97
TOTAL CAPITAL OUTLAY
$ 54,916.55
$22,056.53
$ 76,973.08
$ 79,325.00
$ 2,351.92
RESERVE FOR COMMITMENTS
Public works
5,000.00
5,000,00
5,000,00
-
TOTAL EXPENDITURES
$723,678.33
$48,641.22
$772,319.55
$787,888.00
$15,568.45
-23-
GENERAL FUND
EXPENDITURES (Cont 1d)
* Indicates red figure.
-24-
Expenditures
Unexpended
Disbursements
Encumbrances
to Date
Appropriations
Balance
CENTRAL,SERVICES
General:
Contractual services
$ 41,179.44
$ 406.20
41,585.64
41,150.00
$
435.64#
Commodities
5,227.17
137.30
5,364.47
_x,390.00
25.53.
Total General
$ 46,406.61
$ 543.50
$ 46,950.11
$ 46,540.00
$
410.11#
Village hall:
Personal services
$ 5,088.80
$ 59088.80
$ 5,100.00
$
11.20
Contractual services
5,544.48
526.05
6,070.53
6,080.00
9.47
Commodities
1,583.26
250.10 .
1,833.36
1,845.00
11.64
Total Village Hall
$ 12,216.54
$ 776.1 -5
$ 12,992.69
$ 13,025.00
$
32.31
Garage:
Personal services
$ 81.93
$ 81.93
$ 85.00
$
3.07
Contractual services
1,653.97
$ 339.04
1,993.01
1,850.00
143.01#
Commodities
411.08
3.00
414.08
415.00
.92
Total Garage
$ 2,146.98
$ 342.04
$ 2,489.02
$ 2,350.00
$
139.02#
Equipment operation:
Personal services.
$ 15,163.86
$ 189.98
$ 15,353.84
$ 15,400.00
$
46.16
Contractual services
4,612.97
729.42
5,342.39
5,400.00
57.61
Commodities
2,265.92
49..42
2,315.34
2,400.00
-84.66
Fixed charges
4,319.89
4,319.89
4,400.00
80.11
Fuel
10,485.18
933.49
11,418.67
11,500.00•
81.33
Tires and tubes
4,400.76
42.47
4,443.23
4,500.00
56.77
Lubricants
996.72
x'81.63
1,078.35
1,100.00
21.65
' Parts and accessories
8,984.42
787.93
9,772.35
9,850.00
77.65
Total
Equipment Operation
$ 51,229.72
$ 2,814.34
$ 54,044.06
$ 54,550.00
$
505.94
Power and small tools:
Personal services
$ 173.60
$ 173.60
$ 200.00
$
26.40
Contractual services
283.43
$ 5.50
288.93
300.00
11.07
Commodities
961.32
44.58
1,005.90
1,075.00
69.10
Fixed charges
300.00
300.00
300.00
-
Total
Power and Small Tools
$ 1,718.35
50.08
$ 1,768.43
1,875-00
_106.57
TOTAL CENTRAL SERVICES
$113,718.20
$ 4,526.11
$118,244.31
$118,340.00
$
95.69
Less allocations to other
funds or departments
103,895.00
103,895.00
103,595.00
300.00
TOTAL
$ 9,823.20
$ 4,526.11
$ 14,349.31
$ 149745.00
$
395.69
* Indicates red figure.
-24-
Land
Land improvements
Buildings
Furniture and fixtures
Equipment:
Highway
Police
Fire
Election
Engineering
Traffice signals
Executive
Miscellaneous
GENERAL FUND
FIXED ASSETS
VILLAGE OF EDINA
Year ended December 31, 1958
TOTAL
Summary:
From disbursements
Donation from American Legion
Balance
9,089.58
Balance
January
22,496.78
December
1. 1958
Additions
Deductions 31. 1958
$128,805.66
5,326.16
$128,805.66 .
91,061.46
$ 600.03
91,661.49
356,866.78
3,188.03
360,054.81
33,747.34
29927.31
36,674.65
184,155.45 32,255.19 $2,010.45 214,400.19
18,731.73
9,089.58
2,200.53 25,620.78
44,120.31
22,496.78
66,617.09
40,310.83
40,310.83
13,183.02
5,326.16
112.00 18,397.18
.52,197.80
52,197.80
1,834.1,5
1,834.15
23.779.50
1.415.00
450.00 24.744.50
$988,794.03 $77,298.08 .$4,772.98 $1,061,319.13
$76,973.08
325.00
TOTAL X77.298.08
-25-
POOR FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1958
ASSETS
Cash:
Demand deposits
Time deposits
Investments — Village of Edina — 2.7%
Improvement Bonds of 1958 at face value
Receivables:
Relief grant — State of Minnesota
Delinquent taxes
Less allowance for delinquent taxes
LIABILITIES
Accounts payable
Surplus., — ;unappropriated
$ 2,803.45
10.000.00 $12,803.45
5,000.00
$ 17.00
$428.34
2lti 8134. — 17.00
$17,820.45
$ 131.13
17,68,9.32
$17,820.45
-26-
POOR FUND
STATEMENT OF SURPLUS - UNAPPROPRIATED
VILLAGE OF EDINA
Year ended December 31, 1958
Balance at January 1, 1958
$16,509.24
Additions:
Net income for year
1.180.08
Balance
at December 31,
1958
$17,689.32
STATEMENTS OF REVENUE AND
EXPENDITURES
Increase
19 8
1957
Dgcreas6*
Revenue, receipts and accruals:
Tax settlements
$7,523.25
$7,441.10
$ 82.15
Relief grants - State of Minnesota
68.50
95.09
26.59#
Income on investments
381.09
300.68
80.41
Refunds
70.70
-
70.70
$8,043.54'
$7,836.87
$ 206.67`
Disbursements and accruals:
Suburban Hennepin Relief Board:
Relief orders
$1,905.03
$1,608.30
$ .296.73
Administration
278.75
293.52
14.77#
Rural Hennepin County Nursing Committee
4,579.68
1,802.64
2,777.04
_ Professional services
100.00
50.00
X0.00
�6,863.46
93.754.46
S .3.109.00
NET INCOME
$1,180.08
$4,082.41
$ 2,902.33#
-27-
POOR FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year ended December 31, 1958
Balance at January 1, 1958
Additions:
Tax settlements received:
March, 1958
June, 1958
November, 1958
Relief grants — State of Minnesota
Sale of investments
Income on investments
Decrease in accounts receivable
Refund
Increase in accounts payable
Deductions:
Payment-to Suburban Hennepin County
`Relief Board:
Relief orders
Administration
Rural Hennepin County Nursing Committee
Professional services
Investments purchased
Summary:
Demand deposits
Time deposits
TOTAL
$ 2;803.45
10.000.00
$12,803.45
$ 499.47
$ 831.74
3.,696.30
2„995.21 7,523.25
68.50
16,000.00
381.09
2.77
70.70.
121.13 24,167.44
$24,666.91
$1,905.03
278.75 $ 29183.78
4,579.68
100.00
5.000.00 11.863.E
Balance at December 31, 1958 $12,803.45
_28_
PARK FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1958
ASSETS
Cash
$ 17,516.79
Taxes receivable - delinquent
$ 19892.76
• Less allowance for delinquent taxes
1.892.76
-
Receivables:
Due from Swimming Pool Fund
211.41
Other
3.00
214.41
Fixed assets
196.744.00
$214,475.20
LIABILITIES
Payables:
Trade accounts
2,016.60
Salaries and wages
1,470.56
Due to other funds
1,573.29
Contract for deed - land
700.00
• 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 - improvements and
recreation program
550.00
Park district No. 2
29,135.00
Park district No. 4
19800.00
Park district No. 5
500.00
Figure skating and skiing instructors
salaries
719.00
6.830.71
$ 12,591.16
Appropriated surplus:
Invested in fixed assets
$129,040.23
Contributed:
Property and special assessment taxes
" paid by General Fund
4579907111
Property given by others
9,796.66
67.703.77
1969744.00
Unapporpriated surplus
5,140.04
$214,475.20
-29-
PARK FUND
STATEMENT OF UNAPPROPRIATED SURPLUS
VILLAGE ,OF EDINA
Year ended December 31, 1958
Balance at January 1, 1958 ($ 178.80)
Additions:
Revenues for year (See separate schedules for details) 79,746.12
79,567.32,
Deductions:
Expenses for year (See separate schedule for details) 68,430013
11,137.19
Transfers:
Invested in fixed assets 5,997.15
Balance at December 31, 1958 5,140,04
( ) Indicates deficit.
ANALYSIS OF SURPLUS INVESTED IN FIXED ASSETS
Contributed
By General
Fund Direct
By Payment Investment in
• Combined of Taxes By Others Fixed Assets
Balance at January 1, 1958 $156,988.16 $24,148.42 $9,796.66 $123,043.08
Additions for the year:
Taxes and special assessments..
paid by General Fund 33,758.69 33,758.69
From unappropriated surplus 5,997.15 5,997.15
Balance at December 31, 1958 . $196,744.00 $57,907.11 $9,796.66 $129,040.23
G30.
1 .
PARK FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year ended December 31, 1958
Balance at January 1, 1958
$ 1,856.29,
Additions:
Tax settlements received from County:
March, 1958
4,647.03
June, 1958
21,098.19
November, 1958
17,059.02
$42,804.24
Transfer from other funds:
General Fund
$21,223.00
.Swimming Pool Fund
9,135.59
30058.59
Registration fees:
Figure skating and skiing
$ 424.00
Swimming
4,718.00
Playground program
1,397.00
6,539.00
Miscellaneous revenue
253.88
Collection on accruals at December 31, 1957
3,650.00
Dedicated funds:
Wooddale Parent - Teachers Association
$ 350.00
Folke R. Victorsen Co.
775.00
Rosendahl Co.
500.00
Boran Contractors and,Buildeis, Inca
1,800.00
3,425.00 87,030.71
Deductions:
Expenses for year (See separate schedule for details) $68,430.13
Expenditures for fixed assets 5,997.15
74,427.28
Less increase in accruals:
Balance at December 31, 1958:
Trade accounts
Salaries and wages
Due to other funds
Balance at January 1, 1958:
Trade accounts.
Salaries and wages
Due to other funds
Payment on contiact for deed
$2,016.60
1,470.56
1,573.29
5,060.45.
$88,887.00
619.01
629.20
55.17 1,303.38 3.757.07
70,670.21
700.00 71,370.21
Balance at December 31, 1958 $17,516.79
-31 -.
i 1
I
1 •
PARK FUND
REVENUE AND EXPENDITURES
VILLAGE OF EDINA
Year ended December 31, 195$
Revenues
Real and personal property taxes
Registration fees - playground and tennis
Transfer from General Fund
Swimming registration
Miscellaneous income
Transfer from Swimming Pool Fund
Expenditures
Supervision and-'clerical;:
Personal services
Paid leave,
Contractual services
Commodities
Fixed charges
TOTAL SUPERVISION AND CLERICAL
Recreation:
Baseball and softball:
Personal services
Commodities
Tennis
Skating and hockey:
Personal services
Commodities
Playground:
Personal services
Commodities
Swimming instruction
Unallocated
$ 1,382.26
1,032.09
$ 2,414.35
524.20
$ 2,857.30
92.64
$ 2,949.94
$ 7,134.81
1,464.19
$ 8,599.00
6,524.80
591.63
TOTAL RECREATION $21,603.92
$ 1,382.26
$
1,480.00
$
Actual
1.032.09
1,120.00
Revenue
$ -
$ 2,414.35
$
2;600400
$
Over- Under#
Actual
524.20
Actual
Estimated
Estimated
Receipts
Accruals
Revenue
Revenues
Revenue
$42,804.24
181.93
274.57
$42,804,24
$43,230,00
$ 425.76#
1,397.00
$
4,190,00
1,397.00
1,200.00
197.00
21,223.00
$
7;198.00
21,223.00
21,223.00
-
4,718.00
1,600.00
4,718.00
$ -
4,718.00
253.88
$
3.00
256.88
256.88
9,135.59 .
69600.00
211.41
94347.00
9,347.00
-
$7% 531.71
$
214.41
$79,746.12
$75,000,00
$4,746.12
Actual
Actual
Unexpended
Disbursements
Encumbrances
Expenditures
Appropriations
Balance
$10;951.36
$
89.25
$11,o4o.61
$11,097-.00
$ 56.39
2,828.67
2,828.67
2,865.00
36.33
1,529.86
1,529.86
1,605.00
75,14
84.32
84.32
125.00
40.68
4,695.00
4,695.00
4,695.00
-
$20.,089.21
$
89.25
$20,178,46
$20,387.00
$ 208.54
$ 1,382.26
1,032.09
$ 2,414.35
524.20
$ 2,857.30
92.64
$ 2,949.94
$ 7,134.81
1,464.19
$ 8,599.00
6,524.80
591.63
TOTAL RECREATION $21,603.92
-32-
$ 1,382.26
$
1,480.00
$
97'. 74
1.032.09
1,120.00
87,91
$ -
$ 2,414.35
$
2;600400
$
185.65
524.20
550.00
25.80
$ - 937-63
$ 3,794-93
$
3 , $60.00
$
65.07
181.93
274.57
330600
55.%3
$1,119.56
$ 4,069.50
$
4,190,00
$
120,50
7,134.81
$
7;198.00
$
63.19
1,464.19
1,600.00
135.81
$ -
$ 89599,00
$
8;798.00.
$
199.00
6,524•80
69600.00
75.20
591.63
740.00
148.37
$19119.56 `
$22,723.48
$239478,00
$
754.52
-32-
.PARK FUND
REVENUE AND EXPENDITURES (Cont'd)
Unexpended
Balance
$ 4.29
$ 1.44
4.29
$ 5.73
$ 2.93
2.14
.56
5.63
1.80
.15
4.28
3.18
$ 2.39
4.32
117.31#
110.60#
2.50
8.1#
$879.87
$ 55.85
363.00#
07.1 #
$572.72
-33-
Actual
Actual
Disbursements
Encumbrances
Expenditures
Appropriation
Expenditures (c(jnt'd)
• Maintenance:
Small park areas
2,490.21
5.50
2,495.71
$ 29560.00
Neighborhood playgrounds:
• Personal services
$ 19038.56
$ 1,038.56
$ 19040.00
Commodities
723.71
347.00
1_,070.71
1,075.00
Fixed charges
1.500.00
1.500.00
1.500.00
$ 3,262.27
$ 347.00
6 3,609.27
$ 3,615.00
Playfields:
Personal services
$ 7,172.07
$ 7,172.07
7,175.00
Contractual services
599.14
$ 3.72
602.86
605.00
Commodities
824.44
824.44
825.00
Fixed charges
1,200.00
9;795.65
1.200.00
'99799.37
1.200.00
$
3.72
99805.00
Large parks
458.20
458.20
460,00
Park Buildings:
Personal services
$ 800.87
$ 800.87
$ 805.00
Contractual services
-
-
-
-
Commodities
33.59
$ 26.26
59.85
60.00
Fixed charges
2 0:00
250.00
250.00
1,084.46
T 76.26
1,110.72
$ 19115.00
Park equipment
326.82
326.82
330.00
Skating rinks:
Personal services
$ 59107.61
$ 5,107.61
$ 59110.00
Contractual services
136.27
$ 679.41
815.68
820.00
Commodities
177.47
369.84
547.31
430.00
Fixed charges
1,250.00
1 2 0.00
1.250.00
6,671.35
$1,049.25
7,720.60
$ 7,610.00
Tennis courts
TOTAL MAINTENANCE
7-.50
° 2 0 6.46
7.50
$25-4-528.19
10.00
$25.445.00
TOTAL EXPENSES
65,789.59
2,640.54
$689430.13
$69,310.00
Capital outlay:
General
$ 59234.15
$ 400.00
$ 59634.15
$ 59690.00
Land purchase costs
363.00
363.00
-
TOTAL CAPITAL OUTLAY
$ 5,597.15
00.00
$5.997.15
$ 5.690.00
TOTAL
$71,386.74
$3,040.54
$749427.28
$759000.00
Unexpended
Balance
$ 4.29
$ 1.44
4.29
$ 5.73
$ 2.93
2.14
.56
5.63
1.80
.15
4.28
3.18
$ 2.39
4.32
117.31#
110.60#
2.50
8.1#
$879.87
$ 55.85
363.00#
07.1 #
$572.72
-33-
r,,
Land
Skating rinks
Land improvements
Buildings
Park equipment
Furniture and fixtures
Trucks and automobile
Miscellaneous
Construction in progress:
52nd and Arden
50th and Wooddale
East Mirror Lakes
57th and Chowen
PARK FUND.
FIXED ASSETS
VILLAGE OF EDINA
Year ended December 31, 1958
TOTAL
Balance
Balance
January 1,
December 31,
1958
Additions
1958
$ 90,443.64
363.00
90,806.64
1,871.47
1,480.40
3,351.87
41,268.87
33,758.69
75,027.56
449.43
19392.98
19842.41
8,889.33
410.59
9,299.92
329.08
69.00
398.08
7,156.15
1,881.18
9,037.33
7.00
400.00
477.00
1509484.97
$399755.84
$190,240.81
131.26
131.26
29324.85
29324.85
3085.72
39785.72
261.36
261.36
$156,988.16 $39,755.84 $1961744.00
-34-
SWIMMING POOL FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1958
ASSETS
Due from.Park Sinking Fund
Fixed assets - at cost:
Land
Swimming pool and bathhouse
Filter system
Furniture and equipment -
Less allowance for depreciation
LIABILITIES
Due to Park Fund
Surplus invested in.fixed assets: _
Acquired by bonds
Acquired by cash
Surplus - unappropriated',
$ 3,508.91
� ,10,000.00
$181,362.39
17,000.00
762.62
$199,125.01
3,608.57 195,516.44 205,516.44
$ 2.11.41
$204,791,95
724.49 205,516.44
3,297.50
$209,025.35 .
-35-
SWIMMING POOL FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year ended December 31, 1958
Invested In Fixed Assets
-36-
From
From
Total
Unappropriated.
Surplus
Bond Funds
Balance at January 1, 1958
-
-
-
—
Additions:
Net income"
$ 451.55
$ 4.51.55
From Park Construction
Fund
208,362.39
$208,362.39
$208,813.94
$ 451.55
$-
$208,362.39
Transfers:
Purchased
-
762.62*
$762.62
Depreciation for year
-
3,608.57
38.13#
3,570,44*
Balance at December 31, 1958
$208,813.94
$39297.50
$724.49
$204,791.95
# Indicate red figure.
-36-
SWIMMING POOL FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year ended December 31, 1958
Balance at January 1, 1958 $ -
Additions:
Pool fees $319572..83
Income from concessions 453.46
Levy for bonds and interest $12,600.00
Less portion due from Park Sinking Fund 3,508.91, 9,091.09
841,117,38
Deductions:
Operating expenses (See separate schedule for details) $22,128.08
Interest -and 'bank - revenue charges 9,091.09
$31,219.17
Fixed assets purchased 762.62
Distribution to Park Fund 9,135.52 5.59 41,117.38
Balance at December 31, 1958 -
-37-
SWIMMING POOL FUND
STATEMENT OF INCOME AND EXPENSE
VILLAGE OF EDINA
Year ended December 31, 1958 - Note A
Revenue:.
Pool fees:
Season tickets
$19113000
General admissions
12:442.83
$31,572.83
' Income from concessions
453.46
GROSS
REVENUE
$32,026.29
Operating expenses:
• Salaries and wages:
Supervision
$2,137.50
Life guards
5,834.99
Cashiers
904.13
Basket room attendants
.1,904.25
Watchmen
1,013.64
.
Maintenance
1.863.80
$13,658.31.
Light and power
1,811.01
Water and sewer service
425.52
Heating water
610.48
Telephone
95.78
Filtering materials
1,807.50
Cleaning supplies
380.08
General supplies
858.99
• Hose and sprinklers
257.33
Application forms
320.25
Insurance
1,314.38
. Seed and sod
415.45
Unclassified
173.00
22.128.08
INCOME BEFORE PROVISION FOR DEPRECIATION
AND DEBT SERVICE
CHARGES
$ 9,898.21
Provision for depreciation
3.608
INCOME BEFORE DEBT SERVICE
CHARGES
$ 6,289.64
Other deduction:
Interest and bank service.charges
9.091.09
NET LOSS
$ 2,801.45
Fund's contributed by tax levy
for bonds and interest
12.600.00
$ 9,798.55
Distribution of income to Park
Fund
94347.00
BALANCE TRANSFERRED TO
SURPLUS
$ 451.55
Note A - Swimming pool began operations June 16, 1958-
-38-
Land
Swimming pool and bathhouse
Filter system
Furniture and equipment
SWIMMING POOL FUND
FIXED ASSETS
VILLAGE OF EDINA
December 31, 1958
Asset
�b 10, 000.00
181,362.39
17,000.00
762.62
Allowance for
Depreciation
$2,720.44
850.00
38.13
Net Value
10,000.00
178,641095
16,150.00
724.49
TOTAL $209,12501 $3,608.57 $205,516.44
Note - On account of first year operations, late starting date and
attendant starting costs, depreciation has been computed at
50% of the amount set for full season operations which will
be applicable for future operations.
-39-
PARK SINKING FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1958
ASSETS
Cash:
On deposit
2,655.99
Investments:
' United States Government securities -
at face value
5,000.00
' Receivables:
Taxes receivable - current and delinquent
44,856.29
Taxes receivable - deferred
1,129,000.00
$1,173,856.29
Less allowance for delinquent and'
uncollectible taxes
65,236.29
1,108,620.00
$1,116,275_99
LIABILITIES
Due to Swimming Pool Fund
$ 3,508.91
;\
Interest payable during 1959
_ 26,430.00
29,938.91
' Bonds payable
7009000.00
Reserve for future interest
3939250.00
Less current portion - shown above
26 3,4 0.00
366,820.00
Unappropriated surplus
19,517.08
$1,116,275.99
-40-
■.
PARK SINKING FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year ended December 31, 1958
Balance at January 1, 1958
$ 1,652.62
Additions:
Income on investments
$ 3,383.29
Transfers:
Allowance for uncollectible taxes
$14,513.71
Reserve for future interest
33,780.00
$48,293.71
Less portion allocated to Swimming
Pool Fund
12,600.00
35.693.71
39,077.00
$40,729.62
Deductions:
Payments'to fiscal agent:
Interest
$30,228.00
Service charge
75.63
$30,303.63
Less portion allocated to Swimming Pool Fund
9,091.09
21,212.54
Balance at December 31, 1958 $19,517.08
-41-
PARK SINKING FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
,.Year ended December 31, 1958 .
Balance at January 1, 1958
Additions:
Tax settlements received from County:
March, 1958
June, 1958
November 1, 1958
Less portion. allocated to Swimming Pool Fund
Income on investments
Deductions:
Purchase of investments
Payment to Fiscal Agent:
[=
$ 4,318.79
20,368.19
16,456.73
$41,143.71
9,091.09 $32,052.62
3,383.29
$35,435.91
$ 5,000.00
Interest $30,228.00
Service charge 75.63
$30,303.63
Less portion allocated to Swimming
Pool Fund 9,091.09 21,212,54
Payment of amouhts due to other funds
at December 31, 1957 _6,567,38 32,779.92
Balance at December 31, 1958 $ 2,655.99
-42-
PARK SINKING FUND
BOND AND INTEREST MATURITIES, DEFERRED TAX LEVIES, AND RESERVE FOR UNCOLLECTIBLE TAXES
VILLAGE OF EDINA
December 31, 1958
Annual maturity and interest dates March 1, and
September 1
Interest rates 3.4 %, 3.7%
and 3.9%
Year
Allowance for
Uncollectible Deferred
Bonds Interest Taxes Levies
1960
10,000.00
26,260.00
$ 9,740.00
$ 46,000.00
1961
15,000.00
25,835.00
7,165.00
48,000.00
1962
15,000.00
25,325.00
8,675.00
49,000.00
1963
15,000.00
24,815.00
10,185.00
50,000.00
1964
15,000.00
24,305.00
11,695.00
51,000.00
1965
15,000.00
23,772.50
13,227.50
52,000.00
1966
15,000.00
23,217.50
14,782.50
53,000.00
1967
30,000.00
22,385.00
1,615.00
54,000.00
1968
30,000.00
21,275.00
3,725.00
55,000.00
1969
30,000.00
20,165.00
5,835.00
56,000.00
1970
30,000.00
19,055.00
7,945.00
57,000.00
1971
30,000.00
17,945.00
10,055.00
58.000.00
1972
40,000.00
16,650.00
2,350.00
59,000.00
1973
40,000.00
15,170.00
4,830.00
60,000.00
1974
40,000.00
13,650.00
7,350.00
61,000.00
1975
40,000.00
12,090.00
9,910.00
62,000.00
1976
40,000.00
10,530.00
12,470.00
63,000.00
1977
50,000.00
8,775.00
5,225.00
64,000.00
1978
50,000.00
6,825.00
8,175.00
65,000.00
1979
50,000.00
4,875.00
11,125.00
66,000.00
1980
50,000.00
2,925.00
52,925.00*
1981
50,000.00
975.00
50,975.00*
TOTAL $700,000.00
$366,820.00
$62,180.00
$1,129,000.00
* Indicates red figure.
-43-
PARK CONSTRUCTION FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1958
ASSETS
Cash:
On deposit
Investments:
Edina Park System Bonds - at face value
Fixed assets -.at cost:
Land
Constructinn'in progress
Equipment
LIABILITIES
Trade accounts payable
Surplus invested in fixed assets
Reserve for construction
2,582.96
96,000.00
$281,409.92
184,049.59
1,119.97 466,579.48
$565,162.44
$ 135.00
466,579.48
98.447.96
$565,162.44 ..
m44_
PARK CONSTRUCTION FUND
ANALYSIS OF RESERVE FOR CONSTRUCTION
VILLAGE OF EDINA
Year ended December 31, 1958
Balance at January 1, 1958 $1319106.69
Additions:
Transfer from Liquor.Dispensory Fund 75,000.00
206,106.69
Deductions:
Purchase of fixed assets $276,002.73
Less reserve for authorized expenditures 168.3 .00 107.658.73
Balance at'December 31, 1958 $ 989447.96
-45-
PARK CONSTRUCTION FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year ended December 31, 1958
Balance at January 1, 1958
Additions:
Investments sold $200,000.00
Payment received on accruals at December 31, 1957 9,920.93
Transfer from Liquor Fund 759000.00
Income on investments $ 3,425.72
Less amount transferred to Park Sinking
Fund 3,425.72 -
Deductions:
$ 14,093.39
284,920.93
$299,014.32
Purchase of fixed assets $276,002.73
Decrease in accounts payable -:
Balance at January 1, 1958 $20,563.63
Balance at December 31, 1958 135.00 20,428.63 296,431.36
Balance at December 31, 1958 $ 2,582.96
-46-
PARK CONSTRUCTION FUND
FIXED ASSETS
VILLAGE OF EDINA
Year ended December 31, 1958
■
Land:
Highway. 169 and Hanson Road
.Hays farm property
Coffman property
Cornelia property (swimming pool site)
Pamela Park
Jackson and Belmore Lane area
Sixty- second and Beard area
Unallocated
Construction in progress:
Wooddale and 50th
57th and Chowen
Lake Cornelia area
Pamela area
52nd and Orden
Jackson and Belmore Lane area
East Mirror Lake area
55th and York
Normandale area
Other park areas
Swimming pool
$ 15,007.09
195,436.25
12,639.48
50,000.00
1,190.00
10,921.05
6,000.00
216.05 _ $291,409.92
$ 18,621.06
-5,508.67
40,258.38
79,704.60
669.11
316.14
6,457.89
6,361.03
23,556.84
2,595.87
198,362.39
Equipment
Less portion transferred to Swimming Pool Fund:
Land - Swimming pool site $ 10,000.00
Swimming pool 198,362.39
Balance at December 31, 1958
382,411.98
1,119.97
$674,941.87
208,362.39
$466,579.48
_47_
Total Elimination Construction
ASSETS
Cash:
8,617.49
Demand deposits
$ 125,604.02
Time deposits
185.000.00
Due to-Hennepin County
310,604.02
Investments - at face amount
737,000.00
Receivables:
26,629:15
Special assessments:
27,781.89
Current - certified in 1958 -
- $366,890.64
collectible in 1959
$1,115,707.11
Delinquent
1359607.23
Deferred
5,710,300.32
Taxes and assessments receivable -
7,437,000.00
Village)share of projects:, -
132,429.58
Current
13,400.00
Delinquent
1,562.14
Deferred
174.108.39
$7,150,,685.19
Less allowance for delinquent taxes
495,.�68.83
TOTAL RECEIVABLES
$6,657,116.36'
Due from other funds
189,000.19
Due from Construction Fund for advances
-
Construction in progress:
Current
454,419.97
Deferred
26,629.15
Unallocated construction costs
48J3�.85
$8,423,105.54
13,360.80
70000.00
- $ 83,360.80
366,890.64
$366,890.64
LIABILITIES
Accounts payable
8,617.49
Accrued interest
65,826.08 -
Canceled assessments refundable
402.57
Due to-Hennepin County
11,581.45
Due to other funds
172,131.14
Construction contracts payable
26,629:15
Watermain and sewer connection deposits
27,781.89
Advance from Improvement Funds
- $366,890.64
Loan from General Fund
150,000.00
Payable to City of Minneapolis for
Village share of sewage disposal plant
15,406.30
Bonds payable
7,437,000.00
Reserve for assessment adjustments
132,429.58
Reserve for construction
24,735.75
Surplus - unappropriated
350.564.14
$8,423,105.54 $366,890.64
- - - -- — - --
-----------
Indicates red figure.
36,649.98
454,419.97
26,629.15
1,568.00
$602,627.90
$ 3,077.07
3,513.40
26,629.15.
27,781.89
366,890.64
150,000.00.
24,735.75.
$602,627.90
I .
IMPROVEMENT FUNDS
COMBINED BALANCE SHEET
VILLAGE OF EDINA
December 31, 1958
Joint
Permanent
$ .4,801.08
$
244.00 $ 256.00 $ 256.67 $ 512.50
1952
1953
Sanitary
12.27 112.56
64.33
95,000.00
Improvement
261.90 96.65 116.35 418.25
Sewer
Improvement
1250 ImprovementL
593.96 1,148.74 31,682.88
1951 Improvement
5,538.49 14,121.93 56,236.17 4,710.48
Improvemgnt
Improvement
Sewer
Southdale
1254, Improvement
027,176.63
Bond
Temporary
No. 1
Revolving
First Series
Second Series
First Series
Second Series
First Series
First Series
No. 53
Improvement
First Series
Second Series
Redemption
Improvement
991.88
$ 2,013.37
2,409.10
$ 5,117.69
$ 1,670.73
$ 5,114.22
$ 9,482.95
$ 1,243.62
$ 5,549.79
3,682.97
$ 2,177.39
7,941.00
$ 60,008.93
$ 4,839.58
15,000.00
30.000.00
45,000.00
25.000..00
.
$15,991.88
$ 2,013.37
$32,409.10
$50,117.69
$ 1,670.73
$ 5,114.22
$ 9,482.95
$ 1,243.62
$ 5,549.79
$ 3,682.97
$ 27,177.39
$ 7,941.00
$ 6o,008.93
$ 4,839.58
9,000.00
13,000.00
100,000.00
30,000.00
55,000.00
70,000.00
75,000.00
5,000.00
60,000.00
302,000.00
18,000.00
$25,721.18
$ 9,510.64
$ 8,256.,19
$ 9,664.78
$ 64,277.51
$ 14,965.38
$ 42,597.31
$ 47,280.77
$ 27,046.40.
$ 18,787.57
$ 67,426.38
$ 669,696.48
$110,476.52
$ 709.21
6,071.49
6,653.60
1,676.07
11,240.67
2,495.97
6,385.97
10,907.88
1,155.97
2,434.44
18,293.78
66,044.12
1,538.06
34,531.62
16,190.25
8,095.19
22,443.72
169,472.40
45,524.77
116,310.82
378,246.12
85,074.93
58,787.34
250,254.90
3,976,660.79
548,707.47
4,600.00
8,800.00
539.68
1,022.46
$ 709.21
$669324.29
$329354.49
$16,351.38
$33,784.57
1/,,821.88
$ 82,947.68
$165,294.10
6 098.54
506,555.77
113,277.30
80,009.35
335,975.06
0 187. r
4,811,389.36
660,722.05
$244,990.58
709.21
.9.084.13
8.014.57
817.57
3..281.00
22.928.17
7,104,.29
14,331.38
42.179.00
6.819.84
6.313.19
34.177.8/
303,311.28
34,497.26
$ -
$57,240.16
$24,339.92
$15,533.81
$30,503.57
$222,062.41
$ 75,843.39
$150,962.72
$464,376.77
$106,457.46
$ 73,696;16
$301,797.22
$4,508,077.98
$626,224.79
171.14
1,446.21
3,370.67
1,809.76
78,574.71
51,811.,48
12,086.74
3,079.50
1,036.36
8,055.99
3,507.76
2,070.14
4,685.92
44,061.48
21,179.21
282,293.78
18,503.63 28,264.22
$15,991.88 $59,424.67 $58,195.23 $79,058.53 $45,174.30 $327,176.63 $125,192.09.$210,714.10 $620,571.41 $255,455.54 $110,559.47 $413,799.70 $4,931,617.08 $934,437.65
$ 739.34
$ .4,801.08
$
244.00 $ 256.00 $ 256.67 $ 512.50
$ 1,008.33 $ 1,595.00
$ 2,370.00 $ 760.00 $ 2,411.67 55,305.66 $ 1,106.25
213.41
12.27 112.56
64.33
95,000.00
130.65
261.90 96.65 116.35 418.25
124.90 198,95 $ 2,655.65
139.60 169.55 567,.65 6,125.85 575.50
36,537.98
593.96 1,148.74 31,682.88
3,460.74 14,586.37
5,538.49 14,121.93 56,236.17 4,710.48
$15,406.30
36,000.00 48,000.00 33,000.00
250,000.00.
110,000.00
165,000.00
580,000.00 250,000.00
95,000.00
796,644 877,66#
143.73#
2,169 49*
7,351.97
281.02
722.52
585,58 22.599 21.095.37 29.557.14 12,666 6
44494.17
12.703.28
21,981.81
37.915.76 2.664.92
8,36841
0154991.88 059,424.67, 058,195.23 079,058.53 $459174.30
027,176.63
$125,192,09
$210,714.10
$620,571_41 $255,455.54
$110,559.47
365,000.00 4,605,000.00 900,000.00
12,743.31 92,922.89 22,395.39
18,955.14 111,225.4.E 5.650.03
$413,799.70 $4,931,617.08 $934,437_65
-48-
Balance at January 1, 1958
Additions:
Interest spread on assessments for collection
in 1959
Interest collected by Village on prepayment on
special assessments
Accrued interest on sale of bonds
Income on investments
Capitalized interest
Over— collection on special assessments and taxes
Deductions:
Interest on bonds
Bank service charges
Cost of bond sales
Cancelations and-adjustments
Transfers'— add (deduct):
Allowance for delinquent taxes
Reserve for assessment adjustments
NET TRANSFER DEDUCTION
Balance at December 31, 1958
* Indicates reduction.
`I
Joint
Sewer
Total No. 1
$189,189.71 $327.83
$376,213.83
961.21
3,353.85
23,025.05
$252.81
124,694.33
2,487.19
$530,735.46
$252.81
$216,444.80
1,920.06
3,441.32
111.38
$221.917.56
6____, .
$498,007.61
$580.64.
($151,463.85)
$ 4.94#
4.020.38#
(9147.443.47)
9 4.24
$350,564.14
$585.58
i 'i
IMPROVEMENT FUNDS
STATEMENT.OF SURPLUS - UNAPPROPRIATED
VILLAGE OF EDINA
Year ended December 31, 1958
Permanent
Improvement 1950 Improvement 1951 Improvement
Revolving First Series Second Series First Series Second Series
$18,773.14 $15,878.37 $23,815.1'5 $11,347,.94 $35,377.89
$ 2,990.35
.27
456.25
75.45
$ 3,522..32
$ 1,240.29
12.73
852.09
235.07
$ 2,340.18
$ 964.17
48.25
$ 925.06
3.72
1,661.49
2.204.47
$ 4,794.74
$ 968.do
43-50
$ 1,528.19
3.63
481.46
43.65
$ 2,060.93
$ 988.67
35.50
1952 1953 Sanitary
Improvement Improvement Sewer Southdale
First Series First Series No. 53 Improvement
$ 9,283.92 $179295.76 $34,017.03 $29594.26
$10,989.88
$ 2,879.81
$ 7,560.78
$20,263.19
$5,340.28
9.61
6.65
7.66
136.80
8.92
4,367.09
1,691.'28
2,120.87
39283.78
1,574.11
$15,366.58 $ 4,577.74
$ 8,174.65 $ .4,170.83
172.00 137.72
$ 9,689.31 $239-683.77
$ 5,993.33. $209521.25
142.40 164.01
111.38
Improvement
1954_ Improvement
Bond
Temporary
$ 111.38
1.012.4_2
$ 1.011.50
1.024.17
8,346.65
9.4JO8.55
6.135.73
920.685.26
$22,184.08
$17,206.13
$27,598.39
$12,384.70
$42,397.82
$ 9,553.11
$20,849.34
$37,015.54
$ 415.85*
$ 1,102.38#
$ 725.23#
$ 281.97#
$ 2,196.35#
$ 3,150.17#
$ 1,132.47#
$ 900.22#
S 415.85*
2„786.86#
6 3.889.24
1.233.52#
$ 1.958.75#
9 281.97#
$. 2,196-35
9 3.150.17#
1.132.47#
900.22#
$22,599.93
$21,095.37
$29,557.14
$12,666.67
$44,594.17
012,703.28
$21,9.81.81
$37,915.76
$6,923.31
$7,202.50
50.48
17,252.98,
$2,264.59
$ 400.33#
00.
IS $2,664.92
-49-
Improvement
1954_ Improvement
Bond
Temporary
First Series
Second Series
Redemption
Improvement
$6,408.56
$12,365.60
$ -
$ 1,704.26
$3,70134
$15,566.58
$255,577.53
$47,650.35
.78
116.89
619.40
34.15
3,164.68
189.17
993.79
1,165.95
4,250.40
126.3x#
13.59
114,338.24
10,267.05
$4,69671
$16,863.01
$377,950..25
$58,014.40
$2,560.00
$ 5,955.84
$136,884.96
$22,060.60
57.35
117.90
' 908.95
42.00.
2,197.19
1,244°13
2 61
$ 6.073.71
139,991.10
823.346.7
$8,487.32
$23,154.87
237,959.15
$36,371.93
($ 118.41)
4 4,199.73)
($1269733.72)
($30,721.90)
( 118i' 1)
(9 4.199.93)
($126.733.72)
(630.721.90)
$8,368.91
$18,955.14
$111,225.43
$ 5,650.03
-49-
Combined
Balance at January 1, 1958 $ 82,319.78
Additions:
Remittance from County Auditor:
On special assessments
781,909.25
On taxes receivable
27,900.96
Collections by Village on special assessments:
Principal
148,492.74
Accrued interest
867.85
Proceedsfrom sale of bonds:
Principal
1,270,000.00
Accrued interest
3,353.85
Sale of investments
3,179,001.97
Collection from other funds-accrued at December 31, 1957
106,742.47
Advance from Improvement Funds
1,355,000.00
Increase in watermain and sewer connection deposits
9,043.31
Payment received on connection charges
30,841.07
Collection for other funds
6,764.04
Collections received for construction work performed:
General Fund
30,483.06
Others
15.801.67
$6,966,202.24
Deductions:
Construction costs charged to other funds:
General Fund
$ 30,483.06
Permanent Improvement Revolving Fund
24,450.93
Improvement Funds
2,7369409.02
Others
15.801.67
$2,807,144.68
Decrease in construction in progress:
Balance at January 1, .
1958:
Current construction $1,606,318.33
Deferred construction 5929301.19
Unallocated costs 7'8:25 $2,199,357.77
Balance at December 31,
1958:
Current construction $ .454,419.97
Deferred construction 26,629.15
Unallocated costs 1,568.00 482,612.12
1,716.740.65
$1-,090,404.03
Add decrease in contracts payable:
Balance at January 1, 1958 $ 592,301.19
Balance at December 31, 1958 26,,622.15
565.672.04
1.656.076.07
(Total Carried Forward)
$5,392,445.95
. IMPROVEMENT FUNDS
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year ended December 31, 1958
Joint Permanent
Sewer Improvement 1950 Improvement 1951 Improvement
Con$truction No. 1 Revolving First Series Second Series First Series Second Series
$ 16,312.63 9,559.64. $ 2,570.62 $ 37.07# $' 1,127.91, $ 722.35 $ 3,256.18
$ 4.94 $37,807.75 $12,447.85 $ 12,448.10 $ 9,963.17 $ 69,051050
780.21 490.22
966.15 779.14 362.60 231.40 7,512.59
.27 12.73 3.72 3.63 9.61
$ 513,476.92 18,252.81 32,456.25 55,852.09_ 102,661.49 31,481.46 406,867.09
106,348.87 319.68
1,355,000.00
9,P43.31
740.92
3,513.40
30,483.06
15.801 67
$2,033,667.23 $18,257.75 $71,550.10 $69,872.02 $116,216.83 $42,169.88 $483,440.79
1952 1953 Sanitary Improvement
Improvement Improvement Sewer Southdale 1954 Improvement Bond Temporary
First Series f rs -f Series No. 53 Improvement First Series Second Series Redemption Improvement
$ 3,638.82 $ 427.75 $ 3,597.69#$ 899.41 $ 1,200.20 *$ 4,758.71 $ 27,988.43 $ 15,892.29
$ 45,179.60 $ 48,570.32 $ 48,514.76 $ 27,744.94 $ 18,778.03 $ 64,141.30 $ 377,111.63.$ 10,145.36
10,957.39 15,673.14
754.20 2,158.63 6,945.90 1,584.22 545.57 15,807.45 96,298.49 14,546.40
6.65 7.66 136.80 8.92 .78 116.89 526.04 34.15
179,691.28 225,120.87 423,283.78 231,574.11 102,993.79
278.82
14,760.97 14,336.40
970,000.00 300,000.00
3,164.68 189.17
93,165.95 747,250.40 14,873.68
73.92
334.46 389.50
3,250.64
$236,867.94 $275,857.48 $509,315.35 $275,248.59 $122,318.17 $173,305.51 $2,197,936.34 $340,178.26
1.656Lo76.07
$ 393,903.79 $27,817.39 $74,120.72 $69,834.95 $117,344.74 $42,892.23 $486,696.97 $240,506.76 $276,285.23 $505,717.66 $276,148.00 $121,117.97 $178,064.22 $2,225,924,.77 $356,070.55
-50-
# Indicates red figure.
Combined
(Total Brought Forward)
$5,392,445.95
•
s.
Deductions (cont'd):
Payment on accruals at December 31, 1957
$ 73,512:75
Investments purchased
2,285,000.00
Payment to County Auditor for bookkeeping charges
1,313.10
Transfer to Construction Fund
1,355,000.00
Bonds redeemed
1,086,000.00
Interest on bonds
210,,830.12
Bank service charges
1,920.06
Refunds on special assessments
12,769.53
Payment on connection charges
30,117.11
Payment for other funds
112.00
Costs of bond sale
3,441.32
Costs charged directly to reserve for assessment adjustments
369.40
Paid to City of Minneapolis — .sewage disposal plant
2,291.54
Additional construction costs
19 ,165.00
$5.0813,841.93
Balance at December 31, 1958
$ 310,604.02
# Indicates red figure.
IMPROVEMENT FUNDS
ANALYSIS OF CHANGE IN CASH BALANCE (Cont'd)
Joint
Permanent
1952
1953 Sanitary
Improvement
Sewer
Improvement 1950 Improvement 1951 Improvement
Improvement
Improvement, Sewer Southdale
1954 Improvement Bond Temporary
Construction No. 1
Revolving First Series Second Series First Series Second Series
First Series.
Second Series No. �53 Improvement
First Series Second Series Redemption Improvement
$ 393,903.79 $27,817.39
$74,120.72 $69,834.95 $.117,344.74 $42,892.23 $486,696.97
$240,506.76
$276,285.23 $505,717.66 $276,148.00
$121,117.97 $178,o64.22 $2,225,924.77 $356,070.55
$ 430.99 $72,000.00
310,000.00 $ 5,000.00
$ 34,000.00
$18,000.00
$345,000.00
107.35 89.75
34.85
23.00
110.55
29,000.00
30,000.00
22,000.00
120,000.00
1,1.54.50
1,128.00
1,163.00
8,420.90
48.25
43.50
35.50
172.00
$ 9,533.97 1,857.63
1,178.09
34.04
275.72
534.61
7,845.26
112.00
308.00
$
$125,000.00 $165,000.00 $370,000.00 $240,000.00 $ 50,000.00 $ 85,000.00
39.65 53.70 258.50 .27.05 38.45 89.55
100,000.00 100,000.00 90,000.00 25,000.00 40,000.00 75,000.00
5,087.50 6,960.00 20,521.25 7,387.50 2,880.00 7,797.50
137.72 142.40 164.ol 50.48 57.35 117.90
59.11
758.94 2,824.11 964.78 2,118.27
61.40
1,081.76
505,000.00 $ 33,000.00
440.70
1,055,000.00 300,000.00
455,000.00
131,529.97 16,800.00
908.95 42.00
14,757.27
2,197.19
106.69
38.15
1,244.13
2,291.54
19,165.00
310.542.99, $11.825.51 $32.10,7.3 $37,425.85 9 67,227.05 $41.221.50 $481,5.82.75 X231.023.81 $275.041.61 $500.167.87 $272.465.03 9 93.940.58 X170.123.22 X2.165,,915.84 351,Q0.27
$ 83,360.8o $15,991.88. $ 2,013.37 $32,409.10 $ 50,117.69 $ 1,670.73 $ 5,114.22 9,482.95 $ 1,243..62 $ 5,549.79 $ 3,682.97 $ 27,177.39 $ 7,941.00 $ 60,008.93 $ 4,839.58
_51_
r
IMPROVEMENT FUNDS
BONDS PAYABLE
VILLAGE OF EDINA
December 31, 1958
-52-
1952
1953
Improvement
Improvement
Improvement
1950 Improvement Fund
19�1 Improvement Fund
Fund
Fund
Sanitary
Southdale
12 4 Imprvovement Fund
Bond
Temporary
First
Second
First
Second
First
First
Sewer
Improvement
First
Second
Redemption
Improvement
Year
Total
Series
Series
Series
Series
Series
Series
No. 53
Fund
Series
Series
Fund
Fund
Annual maturities and
March 19
March 1,
March -1,
June 1,
March 1,
March 1,
January 1,
March 1,
March 1,
March 1,
March 1,
June 15,
inteiest, dates
and
and
and
and
and
and
and'
and-
and
and
and
and
September 1
September 1
September
December 1
September 1
September 1
July 1
September 1
September 1
September 1
September 1
December 15
Interest rates
1 7/10% and
2 6/10%
2 3/10 %:.'
2 4/10% and
2 3/4%
2 9/10 %.
3 1/4% and
1 7/10% to
2%
1 3110% to
2% to
2 8/10% and
2 3/10%
and 3%
2 9/10 %.
3 1 /10 %'
3%
2.3%
3 9/10%
3 1/4%
1959
$1,040,000.00
$ 259000.00
70,000.00
$ 45,000.00
$900,000.00
1960
5909000.00
$14,000.00
$15,000.00
$119000.00
$ 60,000.00
20,000.00
50,000.00
30,000.00
209000.00
55,000.00
315,000.00
1961
640,000.00
14,000.00
15,000.00
119000.00
65,000.00
20,000.00
25,000.00
15,000.00
15,000.00
55,000.00
4059000.00
1962
657,000.00
89000.00
18,000.00
119000.00
60,000.00
20,000.00
259-000.00
$ 45,000.00
15,000.00
159000.00
409000.00
400,000.00
1963
6309000.00
659000.00
25,000.00
259000.00
459000.00
15,000.00
15,000.00
409000.00
4009000.00
1964
5609000.00
259000.00
209000.00
45,000.00
15,000.00
159000.00
40,000.00
4009000.00
1965
535,000.00
20,000.00
459000.00
159000.00
159000.00
409000.00
400,000.00
1966
4809000.00
409000.00
159000.00
259000.00
400,000.00
1967
4659000.00
409000.00
15,000.00
4109000.00
1968
2859000.00
40,000.00
15,000.00
230,000.00
1969,
285,000.00
409000.00
159;000.00
230,000.00
1970
16o,000.00
409000.00
15',000.00
105,000.00
1971
1609000.00
409000.00
15;000.00
105,000.00
1972
160,000.00
409000.00
159000.00
105,000.00
1973
160,000.00
40,000.00
15,000.00
105,000.00
1974
145,000.00
40,000.o0
105,000.00
1975
1459000-00
40,000.00
105,000 '.00
1976
105,000.00
105,000:00
1977
105,000.00'
105,000.00
1978
65,000.00
659000.00
1979
6�,000.00
65.000.00
TOTAL
$794379000.00
$36,000.00
$48,000.00
$33,000.00_$2509000.00
$110,000.00
$165,000.00
$580,000.00
$250,000.00
959000.00
$3659000 .-00
$49605,000.00
$9009000.00
-52-
WATERWORKS FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1958
ASS ETS
CURRENT ASSETS
Cash:
Demand deposit
Time deposit:
Appropriated
Unappropriated
Accrued interest receivable
Working fund
Investments:
United States Government securities
at cost
Accrued interest receivable
Less amounts segregated and shown
below
Accounts receivable:
From customers
Due from other funds:
Construction
General
Inventories:
Meters - at cost
Supplies.- estimated
Prepaid expenses
OTHER ASSETS
.Segregated securities - for reserve
for debt retirement
FIXED ASSETS - Note A
Land
Land improvements
Buildings and equipment
Less allowance for depreciation
Construction in progress
1,027.27
$ 15,241.88
39,758.12
956.86 55,956.86
25.00 $ 57,009.13
$ 40,339.10
32.80
$ 40,371.90
30,783.75 9,588.15
$ 32,923.63
$ 1,879.46
6,445.93 8,325.39 41,249.02
$ 4,730-09,
1,750.00 6,480.09
116.96
TOTAL CURRENT ASSETS $ 114,443.35
30,783.75
$ 27,481.38
$ 6,089.81 .
2,760,046.99
$2,766,136.80
327,429.20 2,438,707.60
8,798.94 2,474,987.92
$2,620,215.02
LIABILITIES
CURRENT LIABILITIES
Accounts payable and accrued expenses:
Trade accounts
3,403.60.
Salaries and wages
404.74
Interest
2,655.84
$ 6,464.18
Due to General Fund
802.00
Current maturities of bonds payable
23,000.00
TOTAL CURRENT
LIABILITIES
$ 30,266.18
LONG -TERM DEBT
Bonds payable - Note B
$ 311,000.00
Less current maturities - shown above
23,000.00
288,000.00
SURPLUS
Invested in fixed assets
$ 269,992.71
Revaluation of fixed assets - Note A
32,105.38
Contributed by special assessments -
Note A
1,847;256.40
Contributed by General Fund
14,633.43
$2,163,987.92,
Earned:
Appropriated
$ 46,025.63
Unappropriated
91,935.29
_137,960.92
2,301,948.8.4
See notes to balance sheet.
$2,620,215.02
S
-53-
WATERWORKS FUND
NOTES TO BALANCE SHEET
VILLAGE OF EDINA
December 31, 1958
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. Watermains for which the benefited property owners have been
assessed are carried at construction cost with contra - credit to surplus
contributed by special assessments. Each of the aforementioned amounts
has been reduced by the depreciation charged thereon to income which
has been transferred to earned surplus.
Note B - The annual maturities, due dates and interest rates are as follows:
1947 Issue 1953 Issue 1955 Issue Total
Annual maturities
and interest dates
March l,and
March l,and
March l,and
September 1
September
l September
1
Interest rates
2 1/2% and
2.75%
2.30% and 2.50%
2 3A%
and 2.60%
Annual amount of
maturities:
1959
$ 8,000.00
$ 5,000.00
10,000.00
23,000.00
1960
8,000.00
5,000.00
10,000.00
23,000.00
1961
10,000.00
5,000.00..
10,000.00
25,000.00
1962
109000.00
59000.00
10,000.00
25,000.00
1963
10,000.00
5,000.00
10,000.00
259000.00
1964
109000.00
5,000.00
10,000.00
25,000.00
1965
10,000.00
5,000.00
109000.00
25,000.00
1966
10,000.00
10,000.00
10,000.00
30,000.00
1967
109000.00
10,000.00
10,000.00
30,000.00
1968
30,000.00
30,000.00
1969
309000.00
30,000.00
1970
20,000.00
20.000.00
$86,000.00
$55,000.00
$1709000.00
$3119000.00
Bonds maturing after September 1, 1957
of the 1947
issue shall
be subject to
.. redemption and prepayment
at the option
of the Village
on said
date and any
interest due date thereafter. Bonds maturing
after
March 1, 1963,
of the
1953 and 1955 issues, shall
be subject
to redemption
and,prepayment
at the
option of the Village on
said date and
any interest
due date thereafter.
Thirty days prior notice
must be given
to bondholders.
-.54-
WATERWORKS FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year ended December 31, 1958
Balance at January 1, 1958
Transfer for prior year depreciation
charges earned
Adjustment of depreciation on
distribution system prior to .1947
Transfer from distribution special to
distribution purchased in 1951
Adjusted balance at January 1, 1958
Additions (deductions):
Net income.for the year
Reduction of appropriation of funds
for reserve for debt retirement
Watermains contributed by special
assessment
Adjustment for costs previously
capitalized in error
Transfer of current year depreciation
charges earned
Adjustment for fixed assets acquired
from surplus
Bonds retired
Balance at December 31, 1958
_ Earned SuriDlus _
Total Unappropriated Appropriated
$2,081;156.27 $65,811.44 $46,760.00
$2,081,156.27
42,034.35
203,257.12
( 24,498.90)
$2,301,948.84
$65,811.44
42,034.35
734.37
63,566.55
( 57,211.42)
( 23,000.00)
$91,935.29
RECONCILIATION OF SURPLUS INVESTED IN FIXED ASSETS
Fixed assets acquired to December 31, 1958
Accumulated depreciation'to December 31, 1958'
Fixed assets provided for by bonds outstanding at December 31, 1958
December 31, 1958 revaluation balance being charged to depreciation at a
rate consistent with write -off to unappropriated surplus
( ) Indicates deduction.
$46,760.00
( 734.37)
$46,025.63
Invested
in Fixed
Assets
$ 91,697.46
125,612.53
( 2,235.88)
( 645.51)
$214,428.60
( 24,647.3
57,211.42
23,000.00
$269,992.71
$776,677.50
163.579.41
$613,098.09
311,000.00
$302,098.09
32,105.38
$269,992.71
Contributed
by
Assessments
$1,827,719.35
Contributed
by
General. Fund
$16,380.66
( 124,192.91) ( 1,419.62)
2,235.88
645.51
$19706,407.83 $14,961.04.
203,257.12
( 24,498.90)
( 37,909.65) ( 327.61)
$1,847,256.40 $14,633.43
$2,009,358.96 $16,380.66
162,102.56 1,747.23
$1,847,256.40 $14,633.43
Revaluation
$32,787.36
$32,787.36
681.98)
$32,105.38
$39,948.15
7,842.77
$32,105.38
-55-
WATERWORKS FUND
STATEMENTS OF INCOME AND EXPENSE
VILLAGE OF EDINA
56-
Year Ended December 31,
Increase
1958
1957
Decrease*
Number of meters in use:
At end of year
4,722
4,257
465
At beginning of year
4,257 .
3,859
398
Income:
Sale of meters
$ 15,380.30
$ 15,077.50
$ 302480
• Less cost of meters sold
13,702.00
12,963.50
738.50
GROSS PROFIT, ON METERS
$ 1,678.30
2,114.00
$ 435.70#
Water sales
165,451.31
116,773.58
48,677.73
Penalties
2,279.90
.1,717.52
562.38
Water connection permits
29502.00
2,045.50
456.50
Tapping fees
481.00
381.00
100.00
Street opening fee
76.00
70.00
6.00
Use of hydrants
6,445.93
6,463.73,
17.80*
Miscellaneous
505.35
266.E
238.70
$179,419.79
$129,831.98
$49,587.81
Expenses:
Pump i,n g :
Labor
$ 1,322.22
$ 663.40
$ 658.82
Power and light
17,902.22
13,963.22
3,939.00
Supplies
528.38
440.68
87.70
Buildings:
Labor
305.45
4.82
300.63
Fuel
664.43
414.91
249.52
Supplies
178.60
289.45
110.85#
Telephone
180.75
195.00
14.25#
Repairs.
1,419.45
1,409.40
10.05
Insurance
92.10
-
92.10
Water purchased
819.60
603.25
216.35
Provision for depreciation
10,857.05
9,026.79
1,830.26
Repairs
1,960.12
6,084.15
4,124.03#
$ 36,230.37
$ 33,095.07
$ 3,135.30
Distribution:
Labor
$ 8,184.84
$ 8,648.28
$ 463.44#
Material and supplies
1,477.16
3,525.86
2,048.70#
Operation of meters:
Labor
3,836.44
2,925.62
910.82
' Supplies and expense
717.29
459.24
258.05
Equipment rental and outside labor
-
722.34
722.34#
Provision for depreciation
'41,745.05
37,639.87
4,105.18
' Repairs
566.53
-
566.53
$ 56,527.31
$ 53,921.21
$ 2,606.10
56-
WATERWORKS FUND
STATEMENTS OF INCOME AND EXPENSE (Cont 1d)
Expenses (cont'd)
Tanks and towers:
Labor
Power
Supplies
Equipment rental
Provision for depreciation
Insurance
Water treatment:
Labor
Supplies
Provision for depreciation
Miscellaneous
Vehicle operation:
Allocation from equipment pool
Provision for depreciation
Administrative and general:
Salaries:
Superintendent
Clerical
Meter reading
Meter reading supplies
Office supplies, postage, telephone
Supervision
Provision for depreciation
Professional services
Miscellaneous
Building rental
TOTAL OPERATING EXPENSES
OPERATING INCOME
Other income:
Income on investments
Other deductions:
Interest on bonds
Fiscal agent's service charge
NET INCOME (LOSS)
Depreciation charges to operations
included in expense
Year Ended December 31, Increase
1958 1957 Decrease*
$ 19.98 $ 275.61 $ 255.63#
262.81 246.99 15.82
- 11.75 11.75#
121.50 121.50#
8,825.93 9,325.93 500.00#
167.25 144.00 23.25
$ 9,275.97. $ 10.,125.78 $ 849.81#
68.52 $ 100.20 $ 31.68#
6,600.42 6,081.11 519.31
792.33 689.63 102.70
- 223.73 223.7'
61
7,4.27 $ 7,094.67 366.60
2,350.00 $ 3,000.00 $ 650.003E
93 8.51 914.28 24.23
3,288.51 $ 3,914.28 $ 625.773E
$ 5,760.00 .$ 5,085.00 $ 675.00
2,824.00
2,857.69
33.69E
4,213.80
4,312.73
98.93#
87.68
88.00
.32E
1,980.00
1,606.30
373.70
2,000.00
1,920.00
80.00
420.48
322.35
98.13
800.00
1,363.74
563.74#
394.74
250.36
144.38
120.00
-
120.00
18,600.70
$ 17,806.17
794.53
$131,384.13
$125,957.18
$ 5,426. 5
$ 48,035.66
$ 3,874.80
$44,160.86
2,225.84 1,914.08 311.76
$ 50,261.50 $ 5,788.88 $44,472.62
$ 8,175.43 $ 8,754.56 #
$ 579.13
51.72 53.57 1.85#
8,227.15 S 8,808.13 580.98E
$ 42,034.35 ($ 3,019.25) $45,053.60
$ 63,579.35 $ 57,918.85 $ 5,660,50
-57-
WATERWORKS FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year ended December 31, 1958
Balance January'l, 1958:
Operating fund
Sinking.Fund
Additions:
Collections on accounts receivable
Sale of investments
Decrease in miscellaneous receivables
Decrease in prepaid insurance
Collections on amount due from other funds
Sale of water meters
Sundry sales and services
Income on investments
Collections made for other fund
Deductions:
Investments purchased
Meters purchased
Additions to fixed assets
Less:
Carrying value of disposals
Contributed by special
• assessments
Payment to fiscal agents:
Principal
Interest
Service charges
Decrease in amounts payable:
Trade accounts
Accrued pay roll
Payment made for other fund
Operating expenses
Less provision for depreciation
Summary:
Operating fund:
' Demand deposits
Time deposits
Sinking Fund
Accrued interest on
time deposits
* Indicates red figure.
$260,500.57
$ 19.23
203,257.12 203,276.35
$ 23,000.00
8,371.25
51.72
$161,054.58
75,082.97
157.21
68.85
6,463.73
15,380.30
3,534.35
2,225.84
802.00
$ 40,371.90
13,311.71
57,224.22
31,422.97
9,267.69#
15,388.75
$ 6,121.06
264,769.83
$270,890.89
$ 2,039.94
148.22# 1,891.72
1,879.46
$131,384.13
63,579.35 67,804.78 213,906.76
Balance at December 31, 1958 $ 56,984.13
$ 1,027.27
39,758.12 $40,785.39
15,241.88
956.86
TOTAL $56,984.13
0
f
WATERWORKS FUND
FIXED ASSETS
VILLAGE OF EDINA
Year ended December 31, 1958
Land
Land improvements
Distribution system:
Purchased
Contributed by special assessments
-Contributed by General Fund
Buildings and equipment:
Pumphouses
Wells
.Pumps and piping '
Tanks and towers
Office equipment
Miscellaneous equipment
Water treatment equipment
Automobiles and truck
Tools
Construction in progress
* Indicates red figure.
A s s e t s
Balance Balance
January December
1, 1958 Additions Deductions Transfers 31, 1958
$ 17,777.30 9,704.08 $ 27,481.38
4,743.92 113.32 32.03 $ 1,264.60 6,089.81
168,883.50. $ 13.,012.43
1,830,600.74 203,257.12 $24,498.90
16,380.66
$2,015,864.90 $216,269.55 $24,498.90
$ 47,953.82
125,780.74
64,493.11 $ 499-50
262,748.79
1,935.80 278.50
2,182.25 198.47
15,795.:79
4,050-30
1,330.16
$ 526,270.76 $ 976.47 9 -
$2,564,656.88 $227,063.42 $24,530.93
1,790.60 .33,437.15
TOTAL $2,566,447.48 $260,500.57 $24,530.93
$ 181,895.93
2,009,358.96
16.380.66
$ - $2,207,635.55
$11,219.63
$ 59,173.45
2,145.90
127,926.64
11,696.68
76,689.29
262,748.79
Balance
2,214-30
980.16
3,360.88
102.00
15,897.79
1. 1958
4,050.30
980.16#
350.00
$25,164.21
$ 552,411.44
$26,428.81
$2,793,618.18
26,428.81#
8,798.94
$ - $2,802,417.12
I
Allowance for
Depreciation
Net
Balance
Balance
Balance
January
December
December
1. 1958
Additions
Deductions
31, 1958
31, 1958
-
$ -
27,481.38
507.87
216.68
12.80
711.75
59378.06
60,734.92
$ 3,507.79
64,242.71
$ 117,653.22
124,192.91
37,909.65
162,102.56
1,847,256.40
1.419.62
327.61
1,747.23
14,633.43
$186,347.45
$41,745.05
$ -
$228,092.50
$1,979,543.05
$ 7,704.32
$ 2,142.51
$ 9,846.83
$ 49,326.62
15,015.32
4,968.33
19,983.65
107,942.99
22,863.32
3,529.53
26,392.85
50,296.44
27,199.06
8,825.93
36,024.99
226,723.80
1,002.33
202.21
1,204..54
1,009.76
444.93
218. -27
663.20
2,697.68
1,238.61
792.33
2,030-94
13,866.85
1,539.44
938.51
2,477.95
1072.35
-
-
350.00
77,007.33
$21,617.62
$ -
$ 98,624.95
$ 453,786.49
$263,862.65
$63,579.35
$ 12.80
$327,429.20
$2,466,188.98
-
-
8,798.94
$263,862.65 $63,579.35 $ 12.80 $327,429.20 $2,474,987.92
-59-
CURRENT ASSETS
Cash:
Demand deposits
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
CURRENT LIABILITIES
Trade accounts payable
Accrued payroll
SURPLUS
Invested in fixed assets
Available
SEWER RENTAL FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1958
ASSETS
$ 6,586.14
$11,962.07
94.20
x,417.60 17.473.87
TOTAL CURRENT ASSETS $24,060.01
1,835.98
905.13
1,572.03
19.989.11
$24,296.25
4.002.16 20,287.09
$44,347.10
LIABILITIES
$22,689.99.
TOTAL CURRENT LIABILITIES $p23,001.51
$20,287.09
1,058.50 21,345.59
$44,347.10
-60-
SEWER RENTAL FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year ended December 31, 1958
Balance at January 1, 1958
Additions:
Prior year adjustment to net income
Deductions:
Net loss for the year
Transfers:
Addition to fixed assets
Allowances for depreciation
Balance at December 31, 1958
* Indicates reduction.
Invested
in Fixed
Available Assets
$6,791.07 $13,987.71
1.288.40
$8,079.47 $13,987.71
721.52
$7,357.88 $13,987.71
8,246.19* 8,246.19
1,946.81 1, 946.81#
$1,058.50 $20,287.09
-61-
SEWER RENTAL FUND
STATEMENTS OF INCOME AND EXPENSE
VILLAGE OF EDINA
Year Ended December 31, Increase
1958 1957 Decrease*
Operating income:
Service charges and penalties $57,627.69 $59,379.39 $1,751.70*
Expenses:
Operating:
Sewer maintenance and treatment
$30,076.45
$33,774.09
$3,697.64*
Labor
14,891.74
13,051.92
1,839.82,
Supplies
2,849.04
987.07
1,861.97
Repairs
492.15
1,692.45
1,200.30#
Water
200.00
100.00
100.00
Power
1,761.78
852.41
909.37
Provision for depreciation
1.5,582
228.82
627.00
$51,826.98
$51,386.76
$ 440.22
Vehicle operation:
Allocated from equipment pool
$ 1,500.00
$ 2,400.00
$ 900.00*
Provision for depreciation
314.40
314.E
-
$ 1,814.40
$ 2,714.40
$ 900.00*
Administrative and general:
Clerical and supervision
$ 3,216.00
$ 3,784.46
$ 568.46`
Auditing
175.00
225.00
50.00*
Supplies, telephone, postage and
retirement
1,380.00
1,340.00
40.00
Building rent
60.00
-
60.00
Provision for depreciation
76.59
51.67
24.92
Miscellaneous
-
39.21
39.21`
4,907.59
5,440.34
532.75#
TOTAL EXPENSES
958_548.97
$159,541,50
S 992.52
OPERATING LOSS
$ 921.28
$ 162.11
$ 759.17*
Income on investments
177.56
394.71
217.15*
Miscellaneous
22.13
9.77
12.36
NET LOSS * - INCOME
$ 721.59#
$ 242.37
$ 963.96*
Depreciation charges to operations
included in expenses
$ 1,946.81
$ 1,294.89
$ 651.92
-62-
SEWER RENTAL FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year ended December 31, 1955
Balance at January 1, 1955
Additions:
Collections on accounts receivable
Sale of investments
Income on investments
Tax,settlements received
Collection on amount due from other funds
Other
Deductions:
Expenses for the year
Less provision for depreciation
Purchase of fixed assets
Costs incurred for other fund
Payment on amount due to;other fund
Payables at January 1, 1955:
Trade accounts -
Payroll
Less payablesat December 31, 1955:
Trade accounts
Payroll
$ 1,215.07
$53,810-30
15,059.16
177..56
150.70
1,000.00
21.53 70.249.55
$71,464.62
$58,548.97
1.946.51 $56,602.16
5,246.19
.4,129..20
256.10
$15,471.50
174.24 -15.645.74
$87,879-39
$22,689.39
X11.52 2,x,000.91 64,878.48
Balance at December 31, 1958 $ 6,556.14
-63-
ASSETS
Land improvements
• Furniture and fixtures
Truck
Equipment
ALLOWANCE FOR
DEPRECIATION
Land improvements
Furniture and fixtures
Truck
Equipment
SEWER RENTAL FUND
FIXED ASSETS
VILLAGE OF EDINA
Year ended December 31, 1958 -
Balance
January
1.1958 Additions
1,797.89 38.09
626.63 278.50
1,572.03
12,053.51 7..929.60
$16,050.06 $8,246.19
Balance
December
11. 191,8
$ 1,835.98
.905.13
1,572.03
19.983.11
$24,296.25
40.69 $ 72.68 $ 113.37
130.37 76.59 206.96
471.60 314.40 786.00
1.419.69 1.483.14 2.902.83
$ 2.062.35 gi.946.81 4.009.16
NET BALANCE $13,987.71 $6,299.38 $20,287.09
-64-
LIQUOR DISPENSARY FUND
BALANCE SHEET .
VILLAGE OF EDINA
December 31,'1958
ASSETS
CURRENT ASSETS
Cash:
Demand deposits
Deposits in transit
Working funds
Time deposits
Accrued interest receivable
Merchandise inventory — at cost
(first —in, first —out method):
Liquor
Wine
Beer
Mix and miscellaneous
Prepaid expenses:
Unexpired insurance
Supplies inventory
FIXED ASSETS — at cost
Land
Land improvements
Building
Furniture and fixtures
Leasehold improvements
Less allowance for depreciation
and amortization
$ 15,266.38
13,154.81
1,750.00
$50,000.00
1.023.96 51.023.96 81,195.15
.$150,309.62
18,320.59
5,208.73
389.11 174,628-05
$ 337.93
150.00 483:93
TOTAL CURRENT ASSETS $256,311.13
$ 16,500.00
$ 1,471.01
49,440.72
12,370.63
16.840.43
$80,122.79
27.869.18 52.25 .61 68.7,53.61
$325,064.74
LIABILITIES
CURRENT LIABILITIES
Trade accounts payable $ 31,434.20.
Accrued payroll -1,619.10
Due to General Fund 94.50
TOTAL CURRENT LIABILITIES $ 33,147.80
SURPLUS
Invested in fixed assets $ 68,729.51
Available 2Q.187.43. 291.916.94
$325,064.74
-65-
LIQUOR DISPENSARY FUND
STATEMENT OF SURPLUS
VILLAGE-OF EDINA
Year ended December 31, 1958
Balance at January 1, 1958
Additions:
Net income for the year
Deductions:
Transfer to General Fund
Transfer to Park Construction Fund
Village share of Hennepin County
Park District
Transfer:
Additions to fixed assets - net
Allowance for depreciation
Balance at December 31, 1958
* Indicates reduction.
Invested
in Fixed
Total Available Assets
$275,758.57 $202,518.74 $73,239.83
155,412.29 155.412.29
$431,170.86 $357,931.03 $73,239.83
$ 62,500.00 $ 62,500.00
75,000.00 75,000.00
1.753.92 1.753.92
X129.253.92 g1�2.253.92 —
$291,916.94 $218,677.11. $73,239.83
$ $ 281.90# $ - 281.90
— 4,792.22 4,722.22*
$2919916.94 $223,187.43 $68,729.51
0.
LIQUOR DISPENSARY FUND
COMPARATIVE STATEMENT OF INCOME AND EXPENSE
•
VILLAGE OF EDINA
Year Ended
December 31,
Per Cent to Net Sales
1
9 5
8
1
9 5
7
Increase - Decrease* i
50th Street Southdale
50th Street
Southdale
Total
50th Street
Southdale
Total
50th Street
Southdale
Total 1
1958 1957 1958
Sales:
_1957
Liquor
$442,174.05
$259,782.29
$701,956.34
$435,255.05
$186,903.50
$622,158.55
$ 6,919.00
$72,878.79
$ 79,797.79
• Wine
50,656.82
39,940.14
90,596.96
47,561,39
25,792.76
73,354.15,',
3,095.43
14,147.38
17,242.81
Beer
73,049.77
37,677,67
110,727.44
68,319.87
26,849,11
95,168.98
4,729.90
10,828.56
15,558.46
Mix and
miscellaneous
7,700.46
776.0
$341,176.15
11.476.51
$914,757.25
7.666.80
3.284.62
10 951-42
801,633.10
33.66
491.43
525.09
573,581.10
558,803.11
242,829.99
S14,777.99
$98,346.16
113,124.15
Less bottle refunds
707.26
252.35
.61
825.63
250.26
1,075.89
118.37*
2.0
116.28#
NET SALES
$572,873.84
$340,923.80
$913,797.64
$557,977.48
242,579.73
$800,557.21
14,896.36
98,344.07
113,240.43
100.00% 100.00% 100.00% 100.00%
Cost of sales:
Inventory at
January 1st
$101,110.54
$ 46,397.76.
$147,508.30
$ 83,658.33
$ 29,027.84
$112,686.17
$17,452.21
$17,369.92
$ 34,822.13
Purchases
437,721.52
280,349,99
718.071.51
439,023.86
198,201.98
6 7 22 .8
1,302.34 #
82.148.01
80 845.67
F
$538,832.06
$326,747.75
$865,579.81
$522,682.19
ST27,229.82
$749,912.01
$16,149.87
$99,517.93
$115,667.80
Inventory at Dec-
i
ember 31st
104,874.82
69.75 .23
174,628.05
6690,,951.76
101.110-54
421.571.65
6 7.76
0180,832.06
147.508.30
602,403-71
6 .28
§12.385-59
23,355.47
6 162. 6
27.119.75
88 548.05
75_75 755 75_38
$256,994.52
GROSS PROFIT
.$433.957.24
$138,916.60
$ 83,929.28
6222,845:88
$136,405.83
61,747.67
$198,153.510
29,510.77
$229181.61
24,692.38
_74.55
24.25% 24.45% 24..62 %' 25.45 %.
Operating expenses:
Selling
$ 19,261.93
$ 11,349.61
$ 30,611.54
$ 19,832.25
$ 9,501.89
$ 29,334.14
$ 570.32#
$ 1,8447.72
$ 1,277.40
3.36% 3.56% 3.33% 3.92%
Overhead
5,974.94
14,528.96
20,503.90
5,927.36
9,774.92
15,702.28
47.58
4,754.04
4,801.62
1.05 1.06 4.26 4.03
Administrative
13,020.11
9,205.3.4.
22.225.45
13,630.75
8,151.06
21,781.81
610.64#
1,054.28
443.64
2.27 2_, J.L 2.70 _ 3.36
TOTAL OPERATING
EXPENSES
$ 38,256.98
$ 35,083.91
$ 73,340.89
$ 39,390.36
$ 27,427.87
$ 66,818.23
$ 1,133.38#
$ 7,656.04-
$ 6,522.66
6.68% 7.06% 10.29% 11.31%
NET OPERATING
PROFIT
$100,659.62
$ 48,845.37
$149,504.99
$ 97,015.47
$ 34,319.80
$131,335.27
$ 3,644.15
$14,525.57
$ 18,169.72
17.57% 17.39% 14.33% 14.14%
Other income:
Cash discounts
2,385.68
1,619.19
4,004.87
2,875.64
8.64.08
3,739.72
489.96#
755.11
265.15
.42% .51% .47% •36%
Cash over
215.72
15.83
231.55
186.72
22.46
209.18
29.00
6.63#
22.37
.04 .03 .01 .01
Other
24.10
24.10.
50.00
50.00
25.90#
2.90
.01
$103,285,12
$ 50,480.39
$153,765.51
$100,127.83
$ 35,206.34
$135,334.17
$ 39157.29
$15,274.05
$ 18,431.34
18.03% 17.94% 14.81% 14.51%
., Income from. - investments
1,646.78
-�
-265.47
.11,381.31
NET
INCOME
$155,412.29
$1359599.64
$ 19,812.65
Special charge:
.. Loss on abandon-
ment of leasehold
improvements
3,632.83
3,632.83#
AMOUNT
TRANSFERRED TO
SURPLUS
$155,412.29
$131,966.81
$ 23,445.48
Depreciation and
- - --
- amortization included
in expenses
$ 2.,764.91
$ 2,027.31
$ 4,792.22
$ 3,053.73
$ 1,984.41
$ .5,038.14
$ 288.82#
$ 42.90
$ 245.92 *.
-67-
LIQUOR DISPENSARY FUND
COMPARATIVE OPERATING EXPENSES
VILLAGE OF EDINA
Selling:
Salaries and wages
• Supplies
Dues and subscriptions.•
Taxes and licenses
Pro -rata promotion
Miscellaneous
Overhead:.
Salaries and wages
Rent
Telephone
Supplies
Light and power
Heat
Laundry
Burglar alarm
Insurance
Repairs
Depreciation
Miscellaneous
Administrative:
Salaries
Supplies
Professional services
Allocated expenses - retirement,
insurance, office supplies, etc.
Miscellaneous
TOTAL
Year Ended December 31
Increase - Decrease*
50th Street
1 9 5 .:8
Total
$ 264.67#
1 9 5 7
$1,594.27
50th Street
Southdale
Total
50th Street
Southdale
Total
$189252.95
$10,468.60
$28,721.55
418,517.62
$ 8,609.66
$279127.28
939.98
533.93
19473.91
769.29
588.85
1,358.14
4.14
10.00
10.00
346.00
131.08
477.08
69.00
56.00
125.00
199.34
50.00
249.34
826.29
193.08
193.08
943.31
122.30
122.30
117.02#
88.00
88.00
312.80
312.80
19,261.93 '
11,349.61
30,611.54
$199832.25
99501.89
299334.14
Increase - Decrease*
50th Street
Southdale
Total
$ 264.67#
$1,858.94
$1,594.27
170.69
54.92*
115.77
346.00#
121.08#
467.08#
130.34#
6.00
124.34#
70.78
70.78
208.89
88.00
88.00
570.32#
$19847.72
1,277.40
$ 12.70
$ 106.52
119.22
$ 12.70
$ 106.52
$ 119.22
10,207.23
109207.23
$ 59648.96
$-5,648.96
49558.27
4,558.27
208.89
228.05
436.94
$ 204.75
201.43
- 406.18
4.14
26.62
30.76
122.71
137.95
260.66
51.65
117.73
169.38
71.06
20.22
91.28
826.29
1,082.77
1,909.06
943.31
725.80
19669.11
117.02#
356.97
239.95
312.80
312.80
299,82
299.82
12.98
12.98
208.45
85.79
294.24
212.00
41.27
253.27
3.55 *.
44.52
.40.97
125.98
125.98
114.00
450.00
564.00
11.98
450.00#
438.02#
596.41
175.72
772.13
528.28
159.57 .
687.85
68.13
16.15
84.28
720.51
328.02
1,048.53
507.22
285.25
792.47
213.29
42.77
256.06
2,764.91
2,027.31
4,792.22
39053.73
1,984.41
5,038.14
288.82#
42.90
245.92#
75.29
5,974.94
149.60
14,528.96 '
224.89
20,503.90
12.60
5,927.36
160.50
9;774.92
173.10
15,702.28
62-69
47.58
10.90*
4,754.04
1.7
4,801.62
$10,170.00
$ 7,950.00
$18,120.00
$12,300.00
$ 79830.00
$20,130.00
$29130.00 *.
120.00
$2,010.00#
380'.61
153.00
533.61
357.00
153.00
510.00
23.61
23.61
1,060.60
385.00
1,445.00
973.75
150.00
1,123.75
86.25
235.00
321.25
1,380.00
660.00
2,040.00
19380.00
660.00
2,040.00
29.50
1 020.11
57.34
20
86.84.
22 22
$13-.630.7-5
18.06
8 1 1.06
18.06
621,781.Fl
29.50
T 610.64*
39.28
177054.28
68.78
.6
$38,256.98
$35,083.91
$739340.89
$39,390.36
$27,427.87
$66,818.23
$19133.38#
$79656.04
$69522.66
LIQUOR DISPENSARY
FUND
FIXED ASSETS
VILLAGE OF EDINA
Year
ended December 31, 1958
Balance
Balance
January
December
1. 1958
Additions
Deductions
31, 1958
ASSETS
Land
$16,500.00
$16,500.00
Land improvements
1,495.11
$24.10
1,471.01
Building
49,440.72
49,440.72
Furniture, fixtures and equipment
12,064.63
$ 306.00
121370.63
Leasehold improvements
16.840.43
16.840.43
$96,340.89
$ 306.00
$24.10
$96,622.79
ALLOWANCE FOR
DEPRECIATION AND AMORTIZATION
Land improvements
$ 494.80
$ '61.85
$24.10
$ 532.55
Building
13,925.39
2,115.13
16,040:52
Furniture, fixtures and equipment
79216.08
931.20
8,147.28
Leasehold improvements
12464.79
1.684_.04
3.148.83
$23,,101.06
$4,792.22
$24.10
827,869.18
NET BALANCE
$73,239.83
$68,753.61
cl
-69-
I "•
Fund:.
General:
Current
Poor:
Current
Park:
Current
Park Sinking:
For bonds and interest
Park Construction:
For construction
Improvement:
For bonds and interest
For construction
Waterworks:
Current
Appropriated
Sewer rental:
Current
Liquor Dispensary:
Current
Appropriated
CASH - ALL FUNDS
VILLAGE OF EDINA
December 31, 1958
Demand
and Time For Working
Deposits Deposit Funds Total
$ 27,380.32 $ 350.00 $ 27,730.32
129803.45 12,803.45
17,516.'79 17, 516.79
2,655.99 29655.99
.2,582.96 2-,582.96
$219,879.30 $ 79363.92 $2279243.22
83,360.80 _ _ 83,360.80
$303,240.10 $ 7,363.92 $ - $310,604.02
$ 41,742.25 $ 419742.25
15,241.88 8 25.00. 15,266A8
$ 569984.13 $ - $ 25.00 $ 57,009.13
69586.14 6,586.14
$ 66,290.34 $13,154.81 $ 79,445.15
_ $1,750-00 1,750.00
66,290.34 $13,154. 81 $1,750.00 $ 81,195.15
TOTAL $4969040.22 $20,518.73 $2,125.00 $518,683.95
Depository:
Demand deposits:
First Edina National Bank
First Southdale National Bank
Midland National Bank of
Minneapolis
Total Demand Deposits
Time deposits:
Citizens State Bank
TOTAL
$111,158.60
46,420.18
36480.62
$194,059.40
301,980.82
$496,040.22
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f.
J.
SECURITY FOR DEPOSITS
VILLAGE OF EDINA
December 31, 1958
Demand deposits:
First Edina Natiorial,Bank
First Southdale National Bank
Midland National Bank of Minneapolis
TOTAL
Deposits
Books Banks
$111,158.60 $1,130,381.73
$111,158.60 $1,130,381.73
$ 46,420.18. $ '.60,621.62
TOTAL $ 46,420.18 $ 60,621.62
TOTAL
Time deposits:
Citizens State Bank, St. Louis Park, Minnesota
TOTAL
$ 36,480.62 $ 36,480.62
$ 36,480.62 $ 36,480.62
$301,980.82 $ 301,980.82
$301,980.82 $ 301,980:82
Security for Deposits
Amount
Description
$500,000.00.
United States Treasury Bonds
February
15, 1964
10,000.00
Federal Deposit Insurance Corporation
$510,000.00
$100,000.00
United States Treasury Series B Notes
May
15, 1961
20,000.00
Village of Edina, Minnesota 2.70%
Improvement Bonds
March 1,
1966 and 1967
10,000.00
Federal Deposit Insurance Corporation
$1309000.00
$ 35,000.00
Independent School District No. 1, Rice County,
Minnesota, 2.60% School Building Bonds
January
1, 1964
15,000.00
City of Moorhead, Minnesota, 1.90%
Certificates of Indebtedness
February
1, 1964
10,000.00
Federal Deposit Insurance Corporation
$ 60,000.00
$100,000.00 United States Treasury Bonds August 15,. 1963
100',000.00 United States Treasury Bonds November 15, 1961
100,000.00 United States Treasury 4.0% Notes June 15, 1962
10,000.00 Federal Deposit Insurance Corporation
$310,000.00
-71-
INVESTMENTS
VILLAGE OF EDINA
• December 31, 1958
,r
Description
Maturity
Interest Rate
Face Value
United States Treasury Notes
February
15, 1959
1 7/8%
200,000.00
Village of Edina, Minnesota:
Sanitary Sewer #53 Improvement Bonds
January
1, 1965
3 1/4%
5,000.00
1954 Improvement Bonds
March 1,
1961
2.4
5,000.00
1956 Improvement Bonds
March 1,
1962 and
1963
3.4
96,000.00
1957 Improvement Bonds
March 1,
1971 to
1979
3.7'to 3.9
191,000.00
1957 Park Bonds
March 1,
1968 to
1973
3.7
96,000.00
1958 Improvement Bonds
March 1,
1961 to
1967
2.0 to 2.7
20,000.00
1958 Temporary,Improvement Bonds - Series B
December
1, 1959
3 1/4
00 000.00
713,000-00
TOTAL
913,000.00
Balance
Balance
Book Value
January 1,
December 31,
December 31,
..
1958
Purchased
Sold
1958
1958
Fund Ownership: ,
Improvement funds:
Special Assessment'•Funds
18,000.00
-
18,000.00
-
-
Improvement Funds
1,354,500.00
2,867,500.00
3,485,000.00
737,000.00
737,000.00
Construction
204,000.00
314,000.00
518,000.00
-
-
��. Debt Service
32.000.00
25.000.00
57, 000.00
-
-
1,608,500.00
3,206,500.00•
$4,078,000.00
$737,000.00
$737,000.00
Waterworks
75,000.00
65,000.00
100,000.00
40,000.00
40,339.10
Sewer Rental
15,000.00
10,000.00
25,000.00
-
-
Poor
16,000.00
8,000.00
19,000.00
5,000.00
5,000.00
Park Construction
296,000.00
-
200,000.00
96,000.00
96,000.00
Liquor Dispensary
55,000.00
-
.55,000.00
-
-
General
88,500.00
31,500.00
90,000.00
-30,000.00
30,254.34
Park Sinking
-
5.000.00
-
5•.000.00
5,000,00
TOTAL
$2;154,000.00
$3,326,000.00
$4,567,000,00
$913,000.00
$913,593,44
r
-72-
c./
TAXABLE VALUATIONS, TAX LEVIES AND RATES
VILLAGE OF EDINA
Taxable valuation:
Real estate
Personal property
Tax levies extended:
Extended in year
Collectible in year
General
Parks
Bonds and interest
Poor and public nursing
Firemen's relief
Fire protection
Tax rate by mills:
General
Parks
Bonds and interest
Poor and public nursing
i4 Firemen's relief
Fire protection
s .
•
December 31,. _
1958 1957
$21,407,834.00 $19,203,439.00
2,534.195.00 2,399,635.00
TOTAL $23,942,029.00 $21,603,074.00
1958 1957
1959 1958
$ 539,892.75 $ 455,824.86
47,884.06 43,206.15
57,460.87 70,209.99
7,900.87 7,561.08
6,943.19 6,480.92
6,943.19 6,480.92
TOTAL $ 667,024.93 $ 589,763.92
22.55- 21.10
2.00 2.00
2.40 3.25
.33 .35
.29 .30
.29 .30
TOTAL 27.86 27.30
-73-
MUNICIPAL COURT FINES
VILLAGE OF EDINA
Year ended December 31, 1958
State and
Village County Total
Fines and costs imposed and collected:
Balance uncollected January 1, 1958 660.30 - 660.30
Fines and costs imposed 53.305.80 42,3.50 53.729.30
$53,966.10 $423.50 $54,389.60
Collections by Clerk of Court 53.266.10 423.50 53.689.60
Balance uncollected December 31, 1958 $ 700.00 $ 700.00
Fines due to county and state from
General Fund:
Balance January 1, 1958 $ 25.00
Fines and costs imposed 423.50
$ 448.50
Payments to County and State:
Clerk of Court 448.50
Balance at December 31, 1958 -
-74-
.
A
II
•
OFFICIAL BONDS
VILLAGE OF EDINA:
December 31, 1958
Position
On file with Clerk- Treasurer:
Blanket position
Blanket position
Village Manager
Clerk- Treasurer
On file with Secretary of State:
Clerk of Court
On file.with County Auditor:
Assessor
Assessor (A)
Deputy assessor
do
do
do
do
do
Name
Police department employees
All Village employees not otherwise
specifically bonded
Warren,C. Hyde
Gretchen S. Alden
.Margaret Lindberry
Alex `Creighton
Donald.Kearns
Earl'S. Johnson
William G. Scott
Millicent Towne
Marlys Hawthorne
Yvone Ford
Melvina Larson
Note A - Application for bond for Donald Kearns, Assessor, has been made.
Bond has not yet been delivered by the Surety.
Term Expires
Bond Expires
Amount
Surety
February
13,
1959
$ 2,500.00
Aetna Casualty & Surety
Company
February
13,
1959
25,000.00
Aetna Casualty & Surety
Company
December
31,
1959
February
13 ,
1959
50,000.00
Aetna Casualty & Surety
Company
December
31,
1959
February
13,
1959
25,000.00
Aetna Casualty & Surety
Company
December
31,
1959
March
22,
1959
1,000.00
Anchor Casualty Company
Retired March
31, 1959
March.
31,
1959
500.00
Anchor Casualty Company
December
31,
1959
May
1,
1959
May
1,
1959
500.00
Anchor Casualty Company
May
1,
1959
May
1,
1959
500.00
do
May
1,
1959
May
1,
1959
500.00
do
May
1,
1959
May
1,
1959
500.00
do
May
1,
1959
May
1,
1959
500.00
do
May
1,
1959
May
1,
1959
500.00
do
-75-
r
f
INSURANCE COVERAGE
VILLAGE OF EDINA
December 31, 1958
Building 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
Fire and Extended Coverage
Buildings Contents Other
$205,000.00(A) $25,000.00(A)
25,000.00(A). 14,000.00(A)
30,000.00(A) 5,000.00(A)
75,000.00(B)
500.00(A) 2,000.00(A)
1,500.00(A) 5,000.00(A)
3,250.00(A) .3,000.00(A)
3,700.00(A) 6,000.00(A)
20,000.00(A)
Inventories:
Liquor store - 50th Street
$115,000.00(C)
Liquor store - Southdale (including contents)
50,000.00(B)
Automotive:
Public liability
$250 500,000.00
Property damage
50,000.00
Comprehensive
Stated value approximate to
cash value
Village liquor store:
Comprehensive glass breakage
Actual
Burglary, robbery and theft
- within premises —Note E
5,000.00
. Burglary, robbery and theft
- outside premises - Note E
5,000.00
Burglary, robbery and theft
= merchandise - Note E
5,000.00
Business interruption - 50th
Street
50,000.00(D)
s
Other insurance:
General liability:
Automobile non - ownership, independent contractor
and Village premises - operations:
Public liability 250 500,000.00
Property damage 50,000.00
Workmen's compensation Statutory
Edina Volunteer Fire Department group accident policy,
maximum each fireman "3,000.00
Property floater all risk - voting machines 38,275.00
Note A - 80% coinsurance
$1 Note B - 90% coinsurance
Note C - 100% coinsurance
Note D - 50% coinsurance
Note E.- 50th and Southdale liquor stores
-76-
ORGANIZATION
VILLAGE OF EDINA
December 31, 1958
!Y
-77-
Elected,
Term
Re- elected or
Expires
Reappointed to
December 31,
December 31,
Village Council:
Mayor:
Arthur C. Bredeson
1959
Trustees:
`(
Frank J. Tupa
1960
Evald C. Bank
1958
Wm. Dickson.
1959
John A. Kohler
1960
R. N. Beim
1961
Clerk- treasurer:
Gretchen S. Alden (appointed)
1958
1959
Assessor:
Alex Creighton (appointed)
1958
Donald Kearns (appointed)
1959
Constable:
Hilding Dahl
1959
William B. Hoffman
1958
Municipal Court:
F
Donald S. Burris, Judge
1962
Bruce B. James, Special Judge
1962
Vern W. Moss, Jr.., Special Judge
Appointed
by council
Village Manager:
Warren C. Hyde
Appointed
by council
Village Attorney:
Maynard B. Hasselquist
1958
1959
Assistant Village Attorney:
James Hennessey
1958
1959
Walter Gustafson
1958
1959'
s
Engineer:
Joseph Zikan
1958
1959
R
-77-