Loading...
HomeMy WebLinkAbout1958 Financial StatementsSTART OF., ORIGINAL POOR QUALITY DOCUMENT 11 -- 00000 -- AUDITED FINANCIAL STATEMENTS AND'OTHER "FINANCIAL INFORMATION VILLAGE OF EDINA, MINNESOTA December 31, 1958 -- 00000 -- 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 ..I.. L� 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. -4- .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 -5- 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. -6- 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. -7- 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 -10- 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. -11- 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 -70- 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-