HomeMy WebLinkAbout1959 Financial Statements215TOTITOTOM
AUDITED FINANCIAL STATEMENTS
AND OTHER FINANCIAL INFORMATION
VILLAGE OF EDINA, MINNESOTA
December 31, 1959
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INDEX
ACCOUNTANTS' REPORT ON AUDITED FINANCIAL STATEMENTS .............PAGE 3
COMMENTS AND ACCOUNTANTS' REPORT ON OTHER
FINANCIALINFORMATION ........... ............................... 4
FUND BALANCE SHEETS .............. ...............o............... 10
GENERAL FUND:
BALANCE SHEET...... ........ ... ...... 12
STATEMENT OF SURPLUS ........... ............................... 13
ANALYSIS OF CHANGE IN CASH BALANCE ............................ 14
REVENUE........................ ............................... 15
EXPENDITURES ................... ............................o.. 16
FIXED ASSETS... .......... o ... ............................... 21.
POOR FUND:
BALANCE SHEET ................................................. 22
STATEMENT OF SURPLUS — UNAPPROPRIATED ......................... 23
STATEMENTS OF.REVENUES AND EXPENDITURES .. ...................... 23
ANALYSIS OF CHANGE IN CASH BALANCE..... 24'
PARK FUND:
BALANCESHEET .................. ............................... 25
STATEMENT OF UNAPPROPRIATED SURPLUS ........................... 26
ANALYSIS OF SURPLUS INVESTED IN FIXED ASSETS .................. 26
ANALYSIS OF CHANGE IN CASH BALANCE ................a........... 27
REVENUE AND EXPENDITURES....... 28
FIXEDASSETS ................... ............................... 29.
SWIMMING POOL FUND:
BALANCESHEET .................. ............................... 30.
STATEMENT OF SURPLUS ........... .....o......................... 31
ANALYSIS OF CHANGE IN CASH BALANCE ............................ 32.
STATEMENT OF INCOME AND EXPENSE .. .............. ........... 33.
STATEMENT OF INCOME AND EXPENSE (CONCESSIONS ONLY) ............ 34
FIXED ASSETS ................... ............................... 35
PARK SINKING FUND:
BALANCE SHEET.. 36.
STATEMENT OF SURPLUS .......................................... 37.
ANALYSIS OF CHANGE IN CASH BALANCE.. • ...... .... ....... 38.
BOND AND INTEREST MATURITIES, DEFERRED TAX LEVIES,
ANDRESERVE FOR UNCOLLECTIBLE. TAXES ........................... 39
PARK CONSTRUCTION FUND:
BALANCESHEET ......... o ........ ............................... 40
ANALYSIS OF RESERVE FOR CONSTRUCTION .......................... 41
ANALYSISOF CHANGE IN CASH BALANCE ............................ 42
FIXED ASSETS ................... .....................0......... 43
INDEX (Contod)
IMPROVEMENT FUNDS:
COMBINED BALANCE SHEET...... ....................' ........... PAGE 44
STATEMENT OF SURPLUS — UNAPPROPRIATED 45
ANALYSISOF CHANGE IN CASH BALANCE ............................ 46
BONDSPAYABLE .................. ............................... Off
WATERWORKS FUND:
BALANCE SHEET ................... ............................... 49
NOTESTO BALANCE SHEET ......... ............................... 50
STATEMENTOF SURPLUS ........... ............................... 51
STATEMENTSOF INCOME AND EXPENSE .............................. 52
ANALYSIS OF CHANGE IN CASH BALANCE ............................ 54
FIXED ASSETS ................... ............................... 55
SEWER RENTAL FUND:
BALANCESHEET..... ........... ............................... 56
STATEMENTOF SURPLUS ........... ............................... 57
STATEMENTSOF INCOME AND EXPENSE, ............................. 58
ANALYSIS OF CHANGE IN CASH BALANCE ............................ 59
FIXED ASSETS ................... ............................... 60
LIQUOR DISPENSARY FUND:
BALANCESHEET.' ................. ............................... 61
STATEMENTOF SURPLUS ........... ............................... 62
COMPARATIVE STATEMENT OF INCOME AND EXPENSE ................... 63
COMPARATIVE OPERATING EXPENSES....... 64
ANALYSISOF CHANGE IN CASH BALANCE ............................ 65
FIXEDASSETS ................... ............................... 66
GENERAL:
CASH— ALL FUNDS ............... ..a............................ 67
SECURITYFOR DEPOSITS .......... .........................o..... 68
INVESTMENTS.................... ............................... 69
TAXABLE VALUATIONS, TAX LEVIES AND RATES ...................... 70
MUNICIPAL COURT FINES.' ......... ............................... 71
OFFICIALBONDS ................. ............................... 72
INSURANCECOVERAGE .................... ...................... 73
ORGANIZATION..... ............... ............................... 74
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ACCOUNTANT5- AUDITOR5
MANAGEMENT SERVICES
ERNST & ERNST
FIRST NATIONAL BANK BLDG.
MINNEAPOLIS 2, MINN.
ACCOUNTANTS' 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, 1959 and the related statements'of.revenues
and expenditures or income and expense and surplus for the year then ended. Our
examination was made in accordance with generally accepted auditing standards,
and accordingly included such tests of the accounting records and such other pro-
cedures 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, 1959 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 pre-
ceding year.
Deputy Public Examiner
State of Minnesota
Minneapolis, Minnesota
May 9, 1960
Certified Public Accountants
—3—
ERNST & ERNST
FIRST NATIONAL BANK 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
A550CIATES IN FOREIGN COUNTRIES
The audited financial statements of the various funds of the Village consist-
ing of balance sheets and statements of revenues and expenditures or income and expense,
and surplus and our report thereon are presented in appropriate sections of this report.
Financial information not specifically referred to above and financial information con-
tained 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 pur-
poses only. The information shown in the schedules of security for deposits, taxable
valuations, tax levies and rates, official bonds, insurance coverage and organization
as presented 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 an
independent audit of them as they do not involve information which enters into the
financial statements. Other information was derived from the accounting records tested
by us as a part of the auditing procedures followed in our examination of the afore-
mentioned audited financial statements and, in our opinion, is fairly presented in all
material respects in relation to the financial statements taken as a whole.
The following comments set forth certain auditing procedures and other matters
pertinent to our examination:
The examination was conducted jointly by the firm of Ernst & Ernst, Certified
Public Accountants, and the Department of Public Examiner, State of Minnesota, in accor-
dance with the request of the Village Council.
Cash on deposit at December 31, 1959 was reconciled to balances reported
directly to us by the various depositories. Cash on hand at December 31, 1959 for sub-
sequent deposit was also verified to us by the depositories receiving the cash after
December 31, 1959. Cash working funds were counted by use
Cash receipts and cash disbursements procedures were reviewed and tested by us
for selected periods during the year to determine that proper procedures were being
followed to control recording of receipts and that proper authorization was provided
for disbursements.
United States and Village of Edina securities held for investment by the
several funds of the Village were inspected by us, and related interest income compu-
tations were tested.
Amounts receivable from water and sewer rental charges at December 31, 1959
were tested by direct correspondence and by review of the records for subsequent
collections. Differences reported were explained to our satisfaction.
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Current and delinquent taxes and special assessments and tax settlements
received during the year were confirmed by direct correspondence with the County Auditor.
We reviewed delinquent taxes reported to us and adjusted the balances to conform to-the
County Auditor's balances. Transactions` pertaining to special assessments receivable -
were reviewed.
Interfund transfers and charges and interfund balances were reviewed by us.
We were present at the municipal liquor stores at the time physical inven-
tories were taken. We observed inventory procedures used by Village employees and
tested quantities by independent count of items selected by us. Inventory valuations
were tested by reference to vendors' invoices and by tests of clerical accuracy.
Additions to and disposals from fixed asset accounts were reviewed by us-and
verified by inspection of contracts, invoices or other data. Allowances for deprecia-
tion charged to operating ,funds of the Village were reviewed by us.
We tested accounts payable by direct correspondence and by reference to dis-
bursements subsequent to December 31, 1959.
Canceled bonds and interest coupons redeemed and paid during 1959 were
inspected by us.
Official minutes of the Village Council for 1959 were read by us.
Copies of licenses and permits issued during the year were tested to recorded
collections. Municipal court fines were verified by inspection of court dockets and
violation tickets issued by the Police Department.
COMMENTS ON FINANCIAL STATEMENTS
GENERAL FUND
Reference is made to detailed schedules appearing on pages 12 to 21 as;.to
operations of this fund. Attention is directed to the expenditures schedule on pages
16 to 20 which shows that expenditures for general street maintenance exceeded budget'
appropriations by $8,315.62 although total General Fund expenditures were less than
appropriations. Expenditures should be made in accordance with provisions of the
budget as provided in M. S. A. Section 412.721. M. S. A. Section!412.731 permits the
Council to transfer unencumbered balances of appropriations to other purposes when
approved by four members.
We have been advised that these expenditures in excess of budget appropria-
tions,were occasioned by adverse weather-conditions requiring emergency repairs which
occurred after the last Council meeting of the year, making it impractical to request
Council approval of transfer of appropriations.
No other expenditures exceeded appropriations by any significant amounts,
most expenditures being under appropriations for the year.
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POOR FUND
Reference is made to detail schedules elsewhere in this report as to opera-
tions of this fund. Such details appear'on pages 22 to 24.
PARK FUND
Reference is made to detail schedules elsewhere in this report as to opera-
tions of this fund. Such details appear on pages 25 to 29.
SWIMMING POOL FUND
Detail schedules outlining financial operations of this fund are shown on
pages 30 to 35 of this report. Attention is directed to the net loss of $4,336.43 from
swimming pool and related concession operation. Such loss is after the provision of
$6,880.56 for interest on bonded debt issued for the swimming pool facilities. Taxes
levied, to be collected in 1959, in the amount of $13,200.00 for debt service on park
bonds issued for swimming pool facilities have been credited to this fund and, in
accordance with provisions of the budget adopted for 1959, income in the amount of
$4,935.00 has been distributed to the Park Fund.
PARK SINKING FUND
Reference is made to detail schedules appearing on pages 36't039as to opera-
tions of this fund.
PARK CONSTRUCTION FUND
Reference is made to detail schedules elsewhere in this report as to opera-
tions of this fund. Such details appear on pages 40 to 43 . Fixed assets for park
purposes amounting to $85,703.44 were purchased during the year. Of this amount
$75,000.00 was provided by a transfer of earnings of the Village's two liquor stores.
IMPROVEMENT FUNDS
Reference is made to.d etai1 sc hedules elsewhere in this report as to'opera-
tions -of these funds and the related Construction Fund. Also included with the improve -
ment fund schedules are those of the related Debt Service Fund and the Special Assessment
Fund. Such details appear on pages44 t048 -of this report.
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 perma-
nent 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 benefited from the construction or improvements. To facili-
tate tabulation of these special assessments, interest from date of final assessment
hearing 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
costs of engineering and clerical services properly assignable to the various special,
assessment projects.
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The reserve for assessment adjustments represents the excess of assessments
over actual costs incurred. less charges where actual costs exceeded the assessments.
Also charged to the reserve for assessment adjustments are determinable costs for
financed projects on which work haC not.been Cone and on which final disposition is
pending. These balances may be used for refunding canceled assessments.
During the year $900,000.00 of Temporary Improvement Bonds of 1957 were
redeemed, the redemption being made primarily from funds made available from the sale
of.$1,000,000.00 of Improvement Bonds of 1959 1st Series. On December 15, 1959 the
Village sold an additional $500,000.00 of Temporary Improvement Bonds due on December
15, 1961. . These temporary bonds were all purchased by other funds of the Village.
WATERWORKS FUND
Reference is made to detail schedules elsewhere in this report as to opera-
tions of this fund. Such details appear -on pages 49 to 55.
Net income of the fund for the year amounted to $37,137.70; a decrease of
$4,896.65 from net income of 1958. The principal reason for this decrease in net
income may be summarized as follows:
Increase in depreciation charges included in
operating expenses 7,982.74
Increase in other operating expenses 11,236.75
Increase in fiscal expenses including $974.13
of non - recurring expense representing cost
of sale of $275,000.00 in revenue bonds 9.193.60
INCREASE IN EXPENSES $28,413.09
Less increase in income from sales of water,
water meters and other services and income
on investments 23316.44
DECREASE IN NET INCOME $ 49896.65
SEWER RENTAL FUND
Reference is made to detailed schedules elsewhere in this report as to opera-
tions of this fund. Such details appear on pages56 to 60.
L10UOR DISPENSARY FUND
Reference is made to detailed schedules elsewhere in this report as to opera -
tions of this fund. Such details appear on pages 61 to 66.
Net income of the fund amounted to $185,280.21 for the year. Of this amount
$150,000.00 was transferred to other funds of the Village by action of the Village
Council. Net additions to fixed assets of the fund amounting to $32,218.34 were also
made from net income of the fund.
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GENERAL COMMENTS
SECURITY FOR DEPOSITS
'Reference is made to schedule on page 68 of this report showing details of
deposits of the Village and securities pledged as collateral thereof at December 31,
1959. .,Security for deposits at.the.First Edina.. National Bank was inadequate in respect
to compliance with the provisions-of M. S. A. Section 118.01 which prohibit the Treas-
urer fr.om'maintaining a deposit'in excess of ninety per cent of the market value of the
collateral _pledged . exclusive of amounts covered by federal deposit insurance.
Balance on deposit` at the First Edina
National Bank $310,163.47
Security for deposit:
Collateral at 90% of market value $165,996.00
Federal Deposit Insurance 10.000.00.
$175,996.00
The excessive balance in the First Edina National Bank was due principally to
claims on the Village in the amount.of $199,696.35 which were disbursed in December but
did not clear the bank until subsequent to December 31st.
MUNICIPAL COURT
Our examinationsof the operations of the Municipal Court in previous years
had disclosed several weaknesses in accounting for court funds for which we recommended
corrective procedures. During the course of our current examination we:noted that most
of our recommendations had been followed during the year and that adequate control is`
maintained in accounting for court funds.
lncluded in court cash are%,arious adjustments dating to 1957 which as yet have
not been properly recorded by the court. To correct the court cash records the follow-
ing adjustments are,required:
1: Record miscellaneous bank charges, etc. dating back to 1957
by a credit to cash of $5.59 and a charge to bank service
charges.
2. Remit to the Village Treasurer the amount of $15.12 represent -
ing,miscellaneous credits, errors, etc. which amount is presently
on deposit'in the bank account. This should be accomplished by
the issuance of a check in the amount of $15.12 to the Village
Treasurer which will be recorded as a credit to cash and a
charge to miscellaneous refunds.
TAX LEVIES
Taxes levied in the years 1957, 1958, and 1959 and the statutory authoriza-
tions and limitations therefor are shown in the following tabulation:
H
Purpose
Taxes levied
Authorizations and, limitations:
All general and special purposes based.
on 1950 population of 9,744 at $54.00
per capita - M. S. A: Section 275.11
Public employees' pensions - M. S. A.
Section 353.28
Public Examiner post audit -
M. S. A. Section 215.26
Deficiency for improvement bonds
M. S. A. Section 129.091
TOTAL
Excess of taxes levied over limitations
as computed above
1957 1958 1959
$589,763.29 $667,024.93 $708,478.67
$526,176.00 $526,176.00 $526,176.00
16,855.41
23,097.88
914.80
38,929.48
600.00
10.000.00 31.500.00 28.000.00
$553,031.41 $581,688.68 $593,705.48
$ 36,731.88 $ 85,336.25 $114,773.19
The afore - mentioned per capital tax limitation is based on the 1950 Federal
census as provided for in M. S. A. Section 275.14. Unofficial preliminary reports
indicate that the.1960 Federal census will show a population in excess of 28,000. The
aggregate amount of taxes levied by the Village for each of the above years was within
the thirty mill limitation provided in M. S. A. Section 412.251.
PUBLICATION OF FINANCIAL STATEMENTS
A detailed financial statement was not prepared and published or posted as
required by M. S. A. Section 412.281.
CONTROL OF VILLAGE HALL CASH RECEIPTS
During the year. the Village purchased a remittance control machine for the
purpose of controlling cash receipts at the Village Hall. The use of this machine
has increased efficiency and control of cash receipts procedures. However, we noted
that several weaknesses still exist with respect to cash register procedures employed.
These weaknesses and suggested corrections therefor are as follows:
L. Cash collections are reconciled to the register tape by the cashier who
also prepares the daily bank deposit. It is suggested that the cashier
prepare -For deposit all cash and checks in the cash register daily,
after deducting change funds, without.reference to register readings.
2. The register tape presently is read by the cashier. Cash register tapes
should be pulled and read daily by someone other than the cashier and
independently compared to the deposit as submitted by the cashier. In
other words, no one person should be allowed to handle all phases of
such transactions as above indicated.
Deputy!Public Examiner
State of Minnesota
Minneapolis, Minnesota
May 9, 1960
&4�
Certified Public Accountants
a
FUND BALANCE SHEETS
VILLAGE OF EDINA
December 31, 1959
ASSETS
Cash:
Current funds
Appropriated
Investments:
United States Government
Securities - at face value
or cost
Village of Edina Bonds - at face
value or cost
Amount segregated.and,shown below
Receivables:
Taxes and special assessments%
Current
Delinquent
Deferred
Customers
Due from.other funds
Miscellaneous receivables
Less allowance for
delinquent taxes
Inventories
Prepaid expenses
Segregated securities for reserve
for debt retirement
Construction in progress
Fixed assets
Unallocated construction cost
F u n d s
Swimming Park Park Sewer Liquor
Total General Poor Park Pool Sinking Construction Improvement Waterworks Rental Dispensary
$ 126,727.01 $ 54,983.74 4,372.40 $ 30,252.76 $ 3,297.50 $ 17,_410.97 $129465.56 3 1,055.92).
169,396.35 $ 25,279.62 ($ 1,616.72) 6 126,342.70 19,390,75
$ 296,,123.36 $. 54,983.74 $ 9,372.40 $ 30,252.76 $ 3,297.50 $ 25,279.62 ($ 1,616.72) $ 126,342.70 $ 36,801.72 $12,465,56 ($ 1,055.92)
1,048,572.85 9,000.00
479379.25) -
$ 1,117,397.02
192,399.59 $ 13,467.79 $ 324:26 $ 1,120.50
6,650,524.12
49,393.22
354,534.71 168,688.47
4,816.88 4,762.49 54.39
$ 8,369,065.54 $ 186,918.75 $ -378.65 $ 1,120.50
584,314.54 13,467.79. .324.26 1,120.50
$ 7,784,751.00 .$ 173,450.96 $ 54.39 $
234,279.30 10,000.00
30,010.48
47,379.25
1,094,108.53
4,959,527.91 1,082,043.07 230,390.15
101,599.16
$16,448,858089 $1,320,477.77 $18,426.79 $260,642.91
735,000.00
916,546.51
(
164,886.30
47,379..25)
27,026.34
$ 33,035.42 $1,084,361.60
177,474.29 $ 12.75
1,083,000.00 5,567,524.12
$ 35,964.97 13,428.25
$ 9,826.95 10,878.00 158,202.33 6,938.96
$ .9,826.95 $1,126,913.42 $ — $6,987,562.34 $ 42,903.93 $13,441.00 $ —
54,885.42 514,51-6.57
$ 9,826.95 $1,072,028.00 $ — $6,473,045.77 $ 42,903.93 $13,441.00 $ —
7;627.04 2,16,652.26
26,219.65 2,705.47 1,085.36
202,201.64-
$226,783.53 867,325.00
324,429.89
101,599.16
47,379.25
2,999,058.51 20,432.70 100,971.95
$215,326.09 $1,097,307.62 $645.,596.70 $9,246,078.79 .$3,253,982.97 $46,339.26 $344,679.99
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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.
•
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F u n
d s
Swimming
Park
Park
Sewer
Liquor
Total
General
Poor
Park
Pool
Sinking
Construction
Improvement
Waterworks
Rental
Dispensary
354,534.71
$ 6,938.96
3,682.51
$ 12,342.08
6,319.44
2,023.51
$ 287,929.01
35,236.91
62.29
102,350.33
20,922.66
70.94
1,266.40 -'
4,615.25
1,699.19
38,397.32,
19,893.72
15,484.$5 -
7,554.22
3,526.09
1,186.61
617.94
287.88
1,935.70
3,217.73
3,217.73
11,507.15
11,507.15
60,799.58
55,278.58
5,521.00
77,027.28
3,008.40
.74,018.88
11,163.53
11,163.53
374,292.45
374,292.45
13,167.79
13,167.79
10,407.95
10,407.95
366,820.00
366,820.00
.
9,160,000.00
700,000.00
7,897,000.00
563,000.00
19,715.86
19,715.86
114,497.27
87,744.52
26,752.75
4,623,311,44
1,082,043.07
230,390.15
202,201.64
551,213.42
2,436,058.51
20,432.70
100,971.95
400.00
400.00
66,770.00"
66,770.00
-
11,74.7.00
11,500.00
247.00
1,059,574.60
180,975.06
18,355.85
13,462.29
782.37
24,168.18-
48- 1,499.40
108,381.29
5,724.96
226,225.20
$16,448,858.89
$1,320,477.77
$18,426.79
$260,642.91
$215,326.09
$1,097,307.62
$645,596.70
$9,246,078.79
$3,253,982.97
$46,339.26
$344,679.99
•
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GENERAL FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31,.1959
ASSETS
Cash:
Demand deposits
Working funds
Receivables:
Due from other funds:
Park Fund
Construction Fund
Liquor Dispensary Fund.
Waterworks Fund \
Park Construction Fund
Swimming Pool Fund
Accounts receivable
Supply inventory — estimated
Advance to Construction Fund
Taxes receivable — delinquent
Less allowance for delinquent taxes
Fixed assets
54,583.74
400.00 $ 54,983.74
175.00
14,125.68
-62.29
837.91
2,023.51
1,464.08 $ 18,688.47
4,762.49 23,450.96
10,000.00
150,000.00
$ 13,467.79
13,467.79 -
1,082,043.07
$1,320,477.77
LIABILITIES AND SURPLUS
Due-to Waterworks Fund
Accounts payable:
Trade accounts
Accrued payroll
Edina Firemen's Relief Association
Sundry deposits
Appropriated surplus:
Invested in fixed assets
Contributed — invested in fixed assets
Reserve for commitments
For imprest cash
Surplus — unappropriated
$ 20,922.66'
3,526.09.
11,163.53
3,008.40
$1,012,768.86
69,274.21 $1,082,043.07
11,500.00
400.00
$ 6,938.96
38,620.68
1,093,943.07
180,975.06
$1,320,477.77
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GENERAL FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year Ended December 31, 1959
APPROPRIATED
Balance at January 1, 1959
Additions (deductions):
Transfers from unappropriated surplus:
For fixed assets - net
Fixed assets retired
For improvements
For imprest cash
Balance at December 31, 1959
UNAPPROPRIATED
Balance at January 1,:1959
Additions:
Revenue - see separate schedule
Less expenditures - see separate schedule
Deductions:
General Fund share of construction costs
Increase in working fund
Total
Invested in For Imprest
Fixed Assets Contributed Cash
$19069,169.13 $ 992,294.92 $69,024.21 350.00
34,695.74 34,445.74 250.00
( 13,971.80) ( 13,971.80)
4,000.00
50 XO _ 50 00
$1,093,943.07 $1,0129768.86 $69,274.21 $ 400.00
$859,298.52
801,603.90
$ 12,511.02
50.00
Balance at December 31, 1959
For
Commitments
$ 7,500 -00
4,000.00
$ 11,500.00
$135,841.46
57 694-62
193,536.08
12,561.02
$180,975.06
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GENERAL FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1959
Balance at January 1, 1959
Additions:
Receipts — per separate schedule
Sale of investments
Collections of amounts due others:
Waterworks Fund
Edina Firemen's Relief "Association
Other
Collection made on accruals at
December 31, 1958
Deposits for improvements
Deductions:
Disbursements — per separate schedule
Charges to accounts receivable and
other funds
Payment on accruals at December 31, 1958:
Trade accounts payable
Accrued payroll
Due to other funds
Edina Firemen's Relief Association
Cost of Village share of construction projects
Increase in working fund
$ 27,380.32
$855,258.94
30,254.34
$ 6,938.96
11,163.53
623.20 18,725.69
9,237.30
1.070.00 _914.546.27
$941,926:59
$779,214.73
.14,562.25
$34,738.59
2,339.94
32,367.98
11.558.34 81,004.85
12,511.02
50.00 887.342.85
Balance at December 31, 1959 54,583.74
—14—
GENERAL FUND
REVENUE
VILLAGE OF EDINA
Year Ended December 31, 1959
Actual
Revenue
Over- Under*
Estimated
Estimated
Receipts
Accruals
Revenue
Revenue
Revenue
Real and personal property taxes
$538,498.73
$538,498.73
$539,788.00
$ 1,289.27#
Other taxes
15,704.96
15,704.96
9,800.00
5,904.96
Bicycle licenses.
573.75
573.75
400.00
173.75
Beer and liquor licenses
1,385.00
1,385.00
1,350.00
35.00
Cigarette licenses
699.00
699.00
600.00
99.00
Dog and impounding fees
4,178.50
4,178.50
3,000.00
1,178050
Food and soft drinks
984.00
984.00
780.00
204.00
Gas pump licenses
740.00
2,486.00
740.00
2,486.00
565.00
1,400.00
175.00
1,086.00
Bowling, taxi, pinball, etc.
Plumbing licenses
2,585.00
2,585.00
2;000.00
585.00
Scavenger and garbage collectors
265.00
265.00
400.00
135.00#
Building permits
21,802.00
21,802.00
17,000.00
4,802.00
Cesspool and sewer permits
4,284.00
4,284.00
29000.00
29284.00
Plumbing permits
10,024.35
10,024.35
4,000.00
6,024.35
Sign permits
3,443.43
3,443.43
2,500.00
943.43
Street - opening fees
790:00
790:00
200.00
590:00
Electrical permits
4;000.00
4,000.00#
Engineering,.clerical, searches
76,229:09
76;229.09
70;000.00
6;229.09
Police and fire service
59000.00
5,000.00
5,000.00
-
Repairs after construction or damage
200.00
200.00#
Registration fees
5.00
5.00
10.00
5.00#
Equipment rental
7,252.42
7,252.42.
59500.00
19752.42
Municipal court fines
579245.00
57,245.00
509000.00
7,245.00
Income on investments
590.58
590.58
590.58
Board and room prisoners
1,310.30
287.70
1,598.00
700.00
898.00
State apportionments - highways
219951.90
2,439.10
249391.00
24,390.00
1.00
State apportionments - liquor and cigarettes
.21,960.74
21,960.74
20,000.00
1,960.74
Contributions from active funds
439390.00
43,390.00
43,390.00
-
Charges to other funds
7,500.00
7,500.00
7,500.00
-
Sale of properties
75.00
75.00
500.00
425.00#
Contributions from other sources
910.00
440.00
19350.00
3,720.00
29370.00#
Discounts
663.13
28.03
691.16
691.16
Other revenue
3,227:06
54.75
39281.81
29950.00
331.81
Planning fees
295.00
295.00
295.00
TOTAL
$855,258.94
$49039.58
$8599298.52
$8239643.00,
$35,655.52
-15-
GENERAL GOVERNMENT
Mayor and Council
Planning
Administration:
Personal services
Contractual services
Commodities
Fixed charges
Finance:
Personal services
Contractual services
Fixed charges
Municipal Court:
Personal services
Contractual services
Commodities
Fixed charges
Election
Assessing:
Personal services
Contractual services
Commodities
Fixed charges
Legal services
Library
ENGINEERING
Personal services
Contractual services
Commodities
Fixed charges
GENERAL FUND
EXPENDITURES
VILLAGE OF EDINA
Year Ended December 31, 1959
TOTAL ADMINISTRAT -IGN
TOTAL FINANCE
TOTAL MUNICIPAL COURT
TOTAL ASSESSING
TOTAL. - GENERAL GOVERNMENT
TOTAL ENGINEERING
Disbursements
,7,971.69
8,156.46
$ 32,628.10
3,983.06
49.09
6,504.00
$ 43,164.25
$ 23,547.00
2,939.20
3,708.00
$ 30,194.20
$ 15,643.50
2,843.36
597.20
3,240.00
$ 22,324.06
1,261.72
$ 24,212.99
2,198.08
640.33
2,640.00
$ 29,691.40
10,731.01
3,090.02
$156,584.81
Encumbrances
$ 84.79
$ 84.79
$ 22.90
448.00
8.00
$ 478.90
$ 100.00
30.00
$ 130.00 ---- _
3,623.69
329.54
$ 4,646.92
Expenditures
to Date
$ 7,971.69
8,156.46
$ 32,628.10
4,067.85
49.09
6,5o4.00
$ 43,249.04
23,547.00
2,939.20
3,708.00
$ 30,194.20
$ 15,666.40
3,291.36
605.20
3,240.00
$ 22,802.96
1,261.72
$ 24,312.99
2,228.08
640.33
2,640.00
$ 29,821.40
14,354.70
3,419.56
$161,231.73
Appropriations
$ 8,206.00
8,104..00
$ 32,744.00
4,436.00
225.00
6 , 5o4 . oo --
$ 43,909.00
$ 23,550.00.
2,946.00
3:708.00
$ 30,204.00
$ 15,544.00
.3,292.00
608.00
3 , 240.00
$ 22,684.00
.1,472.00
$ 24,315.00
2,230-00
643.00
2,640.00
$ 29,828.00
14,085.00
3,790.00
$162,282.00
Unexpended
Balance
$ 234.31
52.46#
$
115.90
$ 62,678.00
368.15
22,081.02
175.91
$
659.96
$
3.00
2,370.00
6.80
$
9.80
$
122.40#
$ 96,681.22
.64
$103,388.00
2.80
$
118.96*
210.28
$ 2.01.
1.92
2.67
$ 6.60
269.70#
370.44.
$ 1,050.27
$ 62,430.33
$ 62,430.33
$ 62,678.00
$ 247.67
22,081.02
22,081.02
28,176.00
6,094.98
2,015.87
$ 327.38 2,343.25
2,370.00
26.75
10,16400
10,164.00
10,164.00
-
$ 96,681.22
$ 327.38 $ 97,018.60
$103,388.00
$ 6,369.40
-16-
GENERAL FUND
EXPENDITURES (Cont'd)
-17-
Expenditures
Unexpended
Disbursements
Encumbrances
to Date
Appropriations
Balance
PUBLIC WORKS
Administration and Overhead:
Personal services:
Supervision and clerical
12,950.05
12,950.05
12,951.00
.95
Paid leave
9,322.36
920.52
10,242.88
10,245.00
2.12
Training
1.71 .78
156.66
1,871.
1,876.00
4.56
23,987.19
1,077.18
25,064.37
25,072.00
7.63
Contractual Services
61.80
61.80
64.00
2.20
Commodities
3.50
3.50
5.00
1.50
Fixed charges
TOTAL ADMINISTRATION AND OVERHEAD
9,800.00
8 33,848.99
1,080.68
6
9,800.00
34,929.67
9.800.00
6 34,941.00
-
11.33
Street Maintenance:
General
$ 52,680.27
1,405.35
54,085.62
$ 45,770.00
$ 8,315.62#
Patching
25,590.91
625.74
26,216.65
26,220.00
3.35
Street cleaning
7,513.34
-6.00
7,519.34
7,525.00.
5.66
Sealing
10,615.92
630.67
11,246.59
11,250.00
3.41
Curb repair
536.48
536.48
_540.00
3.52
Snow and ice removal
TOTAL STREET'MAINTENANCE
12 66:73
109;403.65
859.39
T3,527.15
.13 326.12
$112,930.80
13330.00
$104,635.00
3.88
8,295.80#
Street lighting
32,447.40
32,447.40
32;450.00
2.60
Street name signs:
General
$ 2,228.08
$ 28.74
$
2,256.82
$ 29260.00
$ 3.18
New sign installation
1
391.5
1,409.80
1,410-00
20
TOTAL STREET'NAME'SIGNS
,� .0.18.25
T3,246.33
420.29
3,666.62
34670.00
3.38
Traffic Control:
Sign maintenance
$ 5,243.68
$ -1.85
$
5,245.53
$ 5,250.00
$ 4.47
Signal maintenance
3,045.92
360.24
3,406.16
3;410.00
3.84
Pavement marking
2,222.36
2,222.36
2,230.00
7.64
Guard rail maintenance
1,858.42
1.858.42
1,860.00
1.58
TOTAL TRAFFIC CONTROL
12,370.38
362.09
12,732.47
12,750.00
17.53
Bridges:
General maintenance
$ 184.23
$
184.23
$ 185.00
$ .77
Repair program
TOTAL BRIDGES
200.00
384.23
$ 900.57
900.57
1,100-57
1,284.80
1 110.00
1,295.00
9.43
10.20
Storm Drainage:
Storm sewers
$ 4,920.93
$ 10.80
$
4,931.73.
$ 4,935.00
$ 3.27
Temporary
4,470.22
2,667.61
7,137.83
7,140.00
2.17
Pumping
1,962-56
251.67
2,214.23
22,215.00
77
TOTAL STORM DRAINAGE
11,353.71
2,930.08
14,283.79
$ 14,290.00
6.21
-17-
GENERAL FUND
EXPENDITURES (Cont'd)
-18-
Expenditures
Unexpended
Disbursements
Encumbrances.
to Date
Appropriations
Balance
PUBLIC WORKS (Cont'd)
Village properties:
Turf care
3,940.58
3,940.58
3,950.00
9.42
Plantings
508.77
508.77
510.00
1.23
Tree trimming
2,083.11
2,083.11
2,090.00
6.89
Tree spraying
1,581.92
1,581.92
1,590.00
8.08
TOTAL VILLAGE PROPERTIES
8,114.38
-
8,114.38
8,140.00
$ 25.62
Noxious weed control
1,461.81
1,461.81
1,465.00
3.19
TOTAL PUBLIC WORKS
$212,630.88
$
9,220.86
$2219851.74
$213,636.00
$ 8,215.74#
PROTECTION OF PERSONS AND
PROPERTY
Police protection:.'
Personal services'
$119,718.16
$
12.00
$119,730.16-
$119,731.00
.84
Contractual services
2,093.23
51.04
2,144.27
2,153.00
8.73
Commodities
1,959.60
107.89
2,067.49
2,072.00
4.51
Fixed charges
19,404.00
19,404.00
19,404.00
TOTAL POLICE PROTECTION
$143,174.99
$
170.93
$143,345.92
$1439360.00
14.08
Fire protection:
Personal services
$ 66,794.26
$ 66,794:26
$ 66,800.00
5.74
Contractual services
1,193.90
$
30.45
1,224.35
1,229.00
4.65
Commodities
1,596.79
16.93
1,613.72
1,616.00
2.28
Fixed.charges
8,328.00
8,328.00
8.328.00
-
TOTAL FIRE PROTECTION
$ 77,912.95
$
47.38
$ 779960.33
$ 779973.00
12.67
Civilian defense
694.78
8.00
702.78
691.00
11.78#
Public health
1,800.00
.1,800.00
1,800.00.
-
Animal control
3,460.10
272.80
3,732.90
3,850.00
117.10
Inspection
15,935.11
88.74
16,023.85
16.050.00
26.15
TOTAL PROTECTION OF PERSONS AND PROPERTY
$242,977093
$
587.85
$243,565.78
$2439724.00,
$ 158.22
NON- DEPARTMENTAL
Contingencies
$ 19703.29
$
172.50
$ 1,875.79
$ 29100.00
$ 224.21
Special assessments on
village property
26,629.37
26,629.37
26,700.00
70.63
Capital improvements
17,258.00
17,258.00
TOTAL NON- DEPARTMENTAL
$ 28,332.66
$
172.50
$ 289505.1-
$ 469058.00
$17,552.84
CENTRAL SERVICES
See separate schedule attached
15,680.95
1,800.52
17,481.47
21,379.00
3,897.53
TOTAL OPERATING EXPENSES
$752,898.45
$169756.03
$7699654.48
$7909467.00
$209812.52
-18-
GENERAL FUND
EXPENDITURES (Cont'd)
* Indicates red figure.
Encumbrances
$ 28.10
845.00
248.61
511.43
$ 1,633.14
4,000.00
$22,389.17
Expenditures
to Date
$ 212.54
3,222.42
1,322.05
76.50
9,704.66
7,583.03
3,361.12
304.00
63.75
317.81
1,561.54
220.00
27,949.42
4.000.00
$801,603.90
Annrooriations
295.00
3,225.00
1;325.00
'350.00
9;710.00
7,629.00
3,892.00
304.00
75.00
350.00
1,800.00
.221.00
$ 29;176.00
4.000.00
$823,,643-00
Unexpended
Balance
$ 82.46
2.58
2.95
273.50
5.34
45.97
530.88
11.25
32.19
238.46
1.00
1,226.58
§22,039.1U
-19-
Disbursements
CAPITAL OUTLAY
Administration
$. 184.44
Finance
3,222.42
Assessing'
477.05
Engineering
76.50
Public works
9,456.05
Police
7,071.60
Fire
3,361.12
Civilian defense
304.00
Inspection
63.75
Special assessments on village property
317.81
Unallocated capital outlay
1,561.54
Village hall
220.00
TOTAL CAPITAL OUTLAY
26,316.28
RESERVE FOR COMMITMENTS
Public works
TOTAL EXPENDITURES
$779,214.73
* Indicates red figure.
Encumbrances
$ 28.10
845.00
248.61
511.43
$ 1,633.14
4,000.00
$22,389.17
Expenditures
to Date
$ 212.54
3,222.42
1,322.05
76.50
9,704.66
7,583.03
3,361.12
304.00
63.75
317.81
1,561.54
220.00
27,949.42
4.000.00
$801,603.90
Annrooriations
295.00
3,225.00
1;325.00
'350.00
9;710.00
7,629.00
3,892.00
304.00
75.00
350.00
1,800.00
.221.00
$ 29;176.00
4.000.00
$823,,643-00
Unexpended
Balance
$ 82.46
2.58
2.95
273.50
5.34
45.97
530.88
11.25
32.19
238.46
1.00
1,226.58
§22,039.1U
-19-
GENERAL FUND
CENTRAL SERVICES
VILLAGE OF EDINA
Year Ended December 31, 1959
General:
Contractual services
Commodities
Village hall:
Personal services
Contractual services
Commodities
Fixed charges
Garage
Equipment operation:
Personal services
Contractual services
Commodities
Fixed charges
Gasoline and fuel oil
Tires and tubes
Lubricants
Parts and accessories
Small tools
Less allocation to other departments
*Indicates red figure.
TOTAL
Unexpended
Balance
$1,199.65
591.02
1,790.67
$ .94
.89
10.24#
8.41#
181.36#
$ .73
1.03
8.35
142.17
25.42
-28.84
1,837-48
2,04.4.02
252.61
3,897.53
$3,897.53
-20-
Exp-enditures
i
Disbursements
Encumbrances
to-Date
Appropriations
46,996.32
$1,005.97#
$ 45,990.35
$ 47,190.00
82.22
26.76
4.508.98
10,0.00
51,478.54
8 979.21#
50,499.33
52,290.00
$ 5,719.18
$ 29.88
$ 5,749.06
$ 5,750.00
6,015.23
573.88
6,589.11
6,590.00
1,135.43
77.81
1,213.24
1,203.00
120.00
120.00
120.00
12,989.84
681.57
V13,671.41
13,663.00
4,289.00
392.36
4,681.36
4,500.00
$ 17,566.63
$ 312.64
$ 17,879.27
$ 17,880.00
7,203.26
447.71
7,650.97
7,652.00
5,316.96
94.69
5,411.65
5,420.00
2,520.00
2,520.00
2,520.00
12,135.85
338.02#
11,797.83
11,940.00
2,211.83
12.75
29224.58
2,250.00
1,670.56
150.60.
1,821.16
1,850.00
14,850.49
$ 63,475.58
92.03
15,842.52
65,147.98
17 680.00
T
1,672.40
67,192.00
2,153-99
33-40
2.187-39
2,440.00
134,386.95
1,800.52
136,187.47
140,085.00
118,706.00
118,706.00
118,7Q6.00
$ 15,680.95
$1,800.52
$ 17,481.47
$ 21,379.00
Unexpended
Balance
$1,199.65
591.02
1,790.67
$ .94
.89
10.24#
8.41#
181.36#
$ .73
1.03
8.35
142.17
25.42
-28.84
1,837-48
2,04.4.02
252.61
3,897.53
$3,897.53
-20-
La nd
Land improvements
Buildings
Furniture and fixtures
Equipment:
Highway
Police
Fire
Election
Engineering
Traffic signals
Executive
Miscellaneous
GENERAL FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December 31, 1959
TOTAL
Summary:
From disbursements
Donation from Edina Volunteer
Firemen's Association
Ba lance
January 1,
1959
128,805.66
91,661.49
360,054.81
36,674.65
214,400.19
25,620.78
66,617.09
40,310.83
18,397.18
52,197.80
1,834.15
24,744.50
$1,061,319.13
TOTAL
Additions Deductions
$ 317.81
600.94
5,294.87
11,342.20 $ 286.00
13,528.80 13;685.80
3,611.12
$34,695.74 $13,971.80
$34,445.74
250.00
$34,695.74
Balance
December 31,
1959
$ 128,805.66
91,979.30
360,655.75
41,969.52
225,456.39
25,463.78
70,228.21
40,310.83
18,397.19-
52,197.80
1,834.15
24,744.50
$1,082,043.07
-21-
POOR-FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1959
ASSETS
Cash:
Demand deposits
Investments:
Village of Edina - 2.7% Improvement Bonds of
1958 at face value $5,000.00
Village of Edina - 2:`5% Waterworks Revenue
Bonds of 1955 at face value 4,000.00
Receivables:
Relief grant - State of Minnesota $ 54.39
Delinquent taxes. $324.26
Less allowance for delinquent taxes 324.26 -
LIABILITIES AND SURPLUS
Accounts payable
Surplus
$ 9,372.40
9,000.00
54.39
$18,426.79
$ 70.94
18,355.85
$18,426.79
-22-
POOR FUND
STATEMENT OF SURPLUS - UNAPPROPRIATED
VILLAGE OF EDINA
Year Ended December 31, 1959
Balance at January 1, 1959
Additions:
. Net income for year
Balance at December 31, 1959
STATEMENTS OF REVENUES AND EXPENDITURES
Revenue receipts and accruals:
Tax settlements
Relief grants - State of Minnesota
Income on investments
Polio Clinic
Refunds
Disbursements and accruals:
Suburban Hennepin.Relief Board:
Relief orders
Administration
Rural Hennepin County Nursing Committee
Professional services
Polio Clinic costs
Other
NET INCOME
1959 1958
$ 7,904.08 $7,523.25
133.40
68.50
968.56
381.09
1,878.05
4,579:68
10.00
70.70
10,894.09
8,043.54
$ 3,543.63
$1,905.03
293.61
1 278.75
4,579.68
4,579:68
100.00
100.00
1,648.64'
62.00
10,227.56
6.6,863
$ 666.53 $1,180.08
---- - - - - -- --- - - - - --
---------- --- - - - - --
$17,689.32
666.53
$18,355.85
Increase
Decrease*
$ 380.83
64.90
587.47
1,878.05
60.70#
2,850.55
$ 1,638.60
14.86
1,648.64
62.00.
3,364.10
$ 513.55#
—23—
POOR FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1959
Balance at January 1,-"1959
Additions:
Tax settlements-received:
March, 1959
June, 1959
November, 1959
Relief grants - State of Minnesota
Sale of investments
Income on investments
Refund
Polio Clinic:
Income
Costs
Deductions:
Payment to Suburban Hennepin County Relief
Board:
Relief orders
Administration
Rural Hennepin County Nursing Committee
Professional services
Investments purchased
.Increase in accounts receivable
Decrease in accounts payable
Other
$12;803.45
699.86
3,929.80
3,274.42 $ 7,904.08
133.40
1.5,000-00
968.56
10.00
$1,878.05
_19648.64 229.41 24,245.-45
37,048.90
$3,543.63
293.61 $ 3,837.24
4,579.68
100.00
19,000.00
37.39
6o.19
62.00 27,676.50
Balance at December 31, 1959 $ 9,372.40
-24-
PARK FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1959
ASSETS
Cash:
On deposit
Receivables:
Taxes receivable - delinquent
Less allowance for delinquent taxes
Fixed assets
$ 30,252.76
$ 1,120.50
1,120.50 -
LIABILITIES AND SURPLUS
Payables:
Trade accounts
Salaries and wages
Due to other funds
Unexpended contributions for specific purposes:
Normandale Park, 65th.and Mildred
Landscaping buffer strip west of library
Cascade pumping
Dwight Williams Memorial Park
Wooddale Park - improvements and
recreation program
Cornelia Lake Park - improvement
Park District No. 2
Park District No. 3
Park District No. 4
Park District No. 5
Figure skating and skiing instructors'
salaries
Appropriated surplus:
Reserve for improvements
Invested in fixed assets
Contributed:
Property and special assessments
paid by General Fund
Property donated by others
Surplus - unappropriated
$ 1,266.4o
1,186.61
3,682.51
$ 58.50
207.53
723.97
58.95
575.00
150..00
2,985.00
1,050.00
3,400.00
500.00
230,390.15
$260,642.91
699.00 10,407.95 $ 16,543,47
$ 247.00
$135,865.01
$84,536.48
9,988..66 , 94,525.14 230,390.15
230.,637.15
13,462.29
$260,642.91
-25-
PARK FUND
STATEMENT OF UNAPPROPRIATED SURPLUS.
VILLAGE OF EDINA
Year Ended December 31, 1959
Balance at January 1, 1959
Additions:
Revenues for year (see separate schedule for details)
Deductions:
Expenses for year (see separate schedule for details)
Balance at December 31, 1959
ANALYSIS OF SURPLUS INVESTED IN FIXED ASSETS
Balance at January 1, 1959
Additions for the year:
Taxes and special assessments
paid by General Fund
Donation:
From Normandale Community
Service Council
From Brookview Height
Community Council
From unappropriated surplus
Balance at December 31, 1959
_ Contributed
By General
Fund
by Payment
of Special
Combined_ Assessments By Others
$196,744.00 $57,907.11 $9,796.66
26,629.37 26,629.37
126.00
66.00
6,824.78
$230,390.15
$84,536.48
126.00
66.00
$9,988.66
$ 5,140.04
93,945.42
$99,085.46
85,623.17
$13,462.29
Direct
Investment
in Fixed.
$129,040.23
6,824.78
$135,865.01
—26—
PARK FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1959
Balance at January 1, 1959
Additions:
Revenue for year (see separate schedule for details)
Collection on accruals at December 31., 1958
Increase in reserve for improvements
Registration fees - figure skating and skiing
Dedicated funds:
Edina Mrs. Jaycees
Edina Woments Club
Lester C. Anderson
Ruth M. Schaefer
Doris Payton
John E. Haverly
Kermit H. Poppler
Deductions:
Expenditures for year (see separate schedule
for details)
Less increase in accruals:
Balance at December 31, 1959:
Trade accounts
Salaries and wages
Due to other funds
Balance at January 1, 1959:
Trade accounts
Salaries and wages
Due to other funds
Payments from dedicated funds:
Cascade pumping
Figure skating and skiing
Payments on contract for deed
$ 17,516.79
$93,945.42
214.41
247.00
400..00
$ - 25.00
150.00
750.00
100.00
350.00 -
700.00
1,600.00 3,.675.00 98 481.83
115,99.8.62
$85,623.17
$1,266.40
.1,186..61
3,682.51 $6,135.52
$2,ol6.6o
1,470.56
1,573.29 5,060.45 1,075.07
84,548..10
$ 77.76
420.00 497.76
700.00 85,745,86
Balance at December 31, 1959 $ 30,252.76
-27-
PARK FUND
REVENUE AND EXPENDITURES
VILLAGE OF EDINA--
Year Ended December 31, 1959
REVENUE
Real and personal property taxes
Swimming pool fees
Registration fees
Income from concessions
Transferred from active fund
Discounts
Other revenue
Less portion applicable to Swimming Pool Fund
EXPENDITURES
Administration:
Personal services
Contractual services
Commodities.
Central services
Capital outlaly .
Training
Paid leave
Recreation:
Baseball and softball
Skating and hockey
Tennis instruction
Playgrounds
Swimming instruction
Special activities
Maintenance:
Mowing
Special turf care
Planting and trees
Litter removal
Parking areas
Buildings and equipment
Skating. rinks
Swimming pool:
Personal services
Contractual services
Commodities
Central services
TOTAL
TOTAL ADMINISTRATION
TOTAL RECREATION
TOTAL MAINTENANCE
TOTAL SWIMMING POOL
Less portion applicable to swimming pool:
Capital outlay
Operations
._TOTAL EXPENDITURES. LESS INTERFUND TRANSFER
** Indicates negative amount.
Receipts
$ 47,772.26
35,946.06
9,496.60
1,611.36
31,610.00
11046
106033
$126,554.07
32,622.42
$ 93,931.65
Disbursements
$ 10,881.20
936.73
. 86.32
4,898,00,
9,319.53
96.26
2,767.11.
$ 28,985,15,
$ 3,045.43
2,397.30
753.72
10,543.96
8,377.16
1. 2 2. 6
T-79370.03
$ 4,471.89
5,186.78
1,41;5.52
1,998.90
29466,,/08
6,077.55
011.29
30, 28.01
$ 17,434061
4,683.64
4,116046
.240-00
26,474.71
112,457.90
$ 2,639.75
26,474.71
29,114.4
$ 83,30 .44
Accruals
$ 21.50*
13.77
$ 7.. 73 ##
21.50**
$ 13.77
Encumbrances
$ 178.50
392.00
$ 570.50
$ 928.73
112.25
278.33
1,319.31
$ 43.71
346.21
389.92
Revenues
$ 47,772.26
35,946.06
9,496.60
1,589.56
31,610.00
25.23
106.33
$126,546.34
32,600.92
$ 93,945.42
Expenditures
$ 10,881.20
1,115.23
86.32
4,898.00
9,711-53
96.26
2,767.11
$ 29,555.65
$ 3,045.43
3,326.03
753.72
10,543.96
8,489.41
1 30.7
27, 89.34
$ 4,471.89
5,186.78
1,415.52
1,998.90
2,466.08
6,121.26
9,357-52
31,017.93
$ 17,434.61
$ 91.20 4,774.84
4,116.46
240.00
1.20 9-27,565-21
2,370.93 $114,828.83
1.20 $ 26,56 .
971
91.20 6 29,205-66
.$2,279...73_ $ 85,623.17
0
i
i
I
Estimated
I
Revenue
47,000.00
29,000.00
6,300000
3,000.00
31,610.00
450.00
$117,360.00
27 , 065 ..00
$ 90,295000
:noronr.i4tion
$ 10,930.00
1, 12.00
125.00
4,8981.00
11,640.00
379.00
$ 31,88.00
$ 3,30d.b0
3,500.00
800.00-
10,900.00
8,500.00
1 600.00
28,6.00..00
$ 4,006.00
5,250.00
2,580.00
2,480.00
2.,560.00
6,180.00
9.456.00
33,312.00
$ 15,600.00
4,465, . 00
3,260.00
24b.00
f3-,565.00
117,3 0.00
$ 3,500.00
23,56 .00
27.065.OU
$ 90,295.00
i
I
Actual
Revenue
Over - Under*
Estimated
D - nniio
$ 772.26
6,946.06
3,196.60
1,410.14#
25.23
343 Q7, #
$9,186-34
5,535.92
$3,650.42
Unexpended
nnlmnrc
$ 48.80
9.77
38-68
1,928.47
282.74
18.
$2,327.35
$ 254.57
173.97
46.28
356.04
10.59
69.21-
910.
$ 334.11.
63.22
1,164.48
481.10
93.92
58.74.
98-50
2,294.07
$1,834.61#
309.84#
856.46#
93.000.71*
2,531.17
$ 860.25
3.000.91*
$2,140.66*
_$4,671.83,_
-28-
PARK FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December 31, 1959
—29
Balance
Balance
January
December
1 .1959
Additions
31, 1959
Land
$ 90,806..64
90,806.64
Skating rinks
3,351.87
$ 132.44
3,484.31
Land improvements
75,027:56
26,629.37
101,656.93
Buildings
1,.842.41
1,842041
Park equipment
9,299.92
6,013.63
15,313.65
Furniture and fixtures
398.08
95.71
493.79
Trucks,and automobiles
91.037.33
775.00
9,.812.33
Miscellaneous
477.00
_
77.00
190:,240.81
$33,646.15
223,886.96
Construction in progress:
52nd and Arden
131.26
131.26
50th and Wooddale
29,324.85
2,324.85
East Mirror Lakes
3,785.72
3,785.72
57th and Chowen
261.36
261.36
TOTAL $196,744.00
$33,646.15
$230,390015
—29
SWIMMING POOL FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1959
ASSETS
Cash:
On deposit
Receivables:
Due from other funds:
Park Fund
Park Sinking Fund
Fixed assets - at cost:
Land.
Swimming pool and bathhouse
Filter system
Furniture and equipment
Less allowance for depreciation
$ 3,507.51
6,319.44
$ 3,297.50
9,826.95
$ 10,000.00
$182,551.89
17,000.00
3,637.01
203,188.90
10,987.26 192,201.64 202,201:64
$215.326.09
LIABILITIES AND SURPLUS
Due to other funds:
Park Sinking Fund $ 10,878.00
General Fund 1,464.08
Surplus invested in fixed assets:
Acquired by bonds $198,702.74
Acquired from surplus 3,448.90
'Donated 50.00
Surplus - unappropriated
$ 12,342.08
202,201.64
782.37
$215,326.09
—30—
SWIMMING POOL FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year Ended December 31, 1959
Invested in Fixed Assets
*Indicates red figure.
-31-
Unappro=
From
From
Total
priated-
Donated
Surplus
Bond Funds
Balance at January 1, 1959
$208,813.94
$ 3,297.50
$ -
$ 724.49
$204,791.95
Additions:
Transferred from income
3,928.57
3,928.57
From Park Construction Fund
1,069.50
$ 1,069.50
From Minneapolis Aquatennial
Association
50.00
50.0 0
213,862.01
7,226.07
50.00
724.49
205;861.45
Transfers -and deductions:
Allocated to Sinking Fund
for bond retirement
10,878.00#
10,878.00*
Fixed assets purchased
2,944.39#
29944.39
Provision for depreciation
7,378.69
219.98*
_ 7,158.71#
Balance at December 31, 1959
$202,984.01
----- - - - - --
$ 782.37
---- - - - - --
$50.00
- - - - --
$3,448.90
--- - - - - --
$1989702.74.
----- - - - - --
*Indicates red figure.
-31-
SWIMMING POOL FUND
ANALYSIS OF CHANGE IN CASH -13ALANCE
VILLAGE OF EDINA
Year Ended December 31, 1959
Balance at January
1, 1959
-
Additions:
Pool fees
$35,946.06
Concession income
Add depreciation
(See separate schedule)
included therein
$ 1,381.61
208
11 89.86
$37,535.92
Less portion due
from Park Fund
3,507-51
34,028.41
Levy for bonds and
interest
$13,200.00
Less portion due
from Park Sinking Fund
6,319.44
6,880.56
40,908.97
Payment received
on accruals at December 31; 1958
3_ `0�� 8.91
44,417.88
Deductions:
Operating expenses (See separate schedule for details) $27,613.10
Less portion due to other funds 1,464.08
26,149.02
Debt service charges 6q880.56
33,029.58
Payment made on accruals at December 31, 1959 211.41
Fixed assets purchased 2,944.39
Distribution to Park Fund 4,935.00
Balance at December 31, 1959
41,120.38
3,297.50
_32_
SWIMMING POOL FUND
STATEMENT OF-INCOME AND EXPENSE
Revenue:
Pool fees:
Season tickets
General admissions
Operating expenses:
Salaries and wages:
Supervision
Life guards
Cashier
Basket room attendants
Watchmen
Maintenance
Gas
Light and power
Water and sewer
Telephone
Water treatment
Cleaning supplies
General supplies
Printing and office supplies
Maintenance - shower rooms
General maintenance
Equipment rental
Central services
Insurance
Unclassified
Provision for depreciation
Debt service
VILLAGE OF EDINA
Year Ended December 31, 1959
GROSS REVENUE
$2,647.46
7,520.98
1,020.77
2,775.38
800.00
2,670.02
$17,434.61
702.73
1,522.98
360.75
43.53
1,985-89
443.62
786.79
386.16
1,061:25
- 867.47
149.78
240.00
1,464.08
163.46
INCOME BEFORE PROVISION FOR DEPRECIATION
AND DEBT SERVICE CHARGES
INCOME BEFORE DEBT SERVICE CHARGES
NET LOSS FROM OPERATION OF SWIMMING POOL
'ncome from concessions --see separate schedule
NET LOSS FROM OPERATIONS
Special credit (charge):
Funds contributed by tax levy for debt service
Distribution of income to Park Fund
$24;226.00
11,720.o6
35,946.06
27,613.10
8,332.96
7,170.4
1,162.52
6,880.5
6
5,718.04
1,381.61
( 4,336.43)
1,
$13,200.00
( 4,935.00) 8,265.00
BALANCE TRANSFERRED TO SURPLUS $ 3,928.57
-33-
SWIMMING POOL FUND
STATEMENT OF INCOME AND EXPENSE (CONCESSIONS ONLY)
Soft drinks
Soft ice cream
Pop corn
Hot dogs
Beefburgers
Beef barbecue
Ham
Steak
Pizza pie
Coffee
Candy
Operating expenses:
Salaries and wages:
Manager
Clerk
General supplies
Laundry
Machine rental
Provision for depreciation
General maintenance
VILLAGE OF.EDINA
Year Ended December 31, 1959
Sales
$1,604.70
3,595,40.
1,959.94
732.00
687.30
20.30
51.45
20.40
66.00
45.00
54.80
$8,837.29
$ 814.56
1,815.36
Cost of
Sal-es
$1,000. "90
1,799.26
379.20
_474.23
532.68
14.79
37.49
14.79
42.24
30.25
38.80
$4,364.63
$2--9629.92
63.27
69.68
20.00
208.25
99.93
NET INCOME
Gross Profit
Per Cent'
Amount to Sales
$ 603.80 37.63%
1,796.14 49.96
1,580.74 80.65 .
257.77 35.21
154.62 22.50
5.51 27.14
13.96 27.13
5.61 27.50
23.76 36.00
14.75 32.78
16.00 29.20
$4,472.66 50061%
3,091.05
$1,381.61
-34-
SWIMMING POOL FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December 31, 1959
ASSETS
Land
Swimming pool and bathhouse
Filter system
Furniture and equipment
ALLOWANCE FOR DEPRECIATION
Swimming pool and bathhouse
Filter system
Furniture and equipment
Balance
January. 1,
1959
$ 10,000.00
181,362.39
17,000.00
762.62
209,125.01
Balance
December 3.1,
Additions 1959
$ 10,000.00
$1,189.50 182,551.89
17,000.00
2,874-39 3 637.01
6 90
4,063.89 213,188.90
--- - - - - --
$ 2,720.44 $5,458.71 $ 8,179.15
850.00. 1,700.00. 2,550.00
38.13 219.98 258.11
3,608-57 $7,378.69 10 987.26
NET.BALANCE $205,516.44 $202,201.64
-35-
PARK SINKING FUND
BALANCE'SHEET
VILLAGE OF EDINA
December 31, 1959
ASSETS
Cash:
On deposit $ 259279.62
Receivables:
Due from Swimming Pool Fund $ 10,878.00
Taxes receivable - current and delinquent 33,035.42
Taxes receivable - deferred 1,083,000-00
1,116,035.42
Less allowance for delinquent and
uncollectible taxes 54,885.42 1,061,150.00 1,072,028.00
$1,097,307.62
Surplus unappropriated 24,168.18
$1,097,307.62
-36-
LIABILITIES, RESERVE AND SURPLUS
Due to Swimming Pool
Fund
$
.6,319.44
Amount payable during
1960:
Interest
$ 26,260.00
Bonds
10,000.00
36,260.00 $
429579.44
Bonds payable
700,000.00
Less current portion.-
shown above
10,000.00
690,000.00
Reserve for future interest
$
366,820.00
Less current portion
- shown above
26,260.00
340,560.00
Surplus unappropriated 24,168.18
$1,097,307.62
-36-
PARK SINKING RJND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year -- Ended December 31, 1959
Balance at January 1, 1959 $19,517.08
Additions:
Income on investments $ 46.87
Transfers:
Allowance for uncollectible taxes $ 7,428.87
Reserve for future interest 26,430.00
$33,858.87
Less portion allocated to Swimming
Pool Fund 13.200000 20,658.87 20,705-74
40,222.82
Deductions:
Payment to fiscal agent:
Interest.. $22,878.00
Service charge 57.20
22,935.20
Less portion allocated to Swimming Pool Fund 6,880.56 16,054.64
Balance at December 31, 1959 $249168.18
—37—
PARK SINKING FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year-Ended December 31, 1959
Balance at January 1, 1959
Additions:
Tax settlements received from county:
March , 1959 -
June ,.1959
November, 1959
Sale of investments
Income on investments
Deductions:
Payment to fiscal agent:
Interest
Service charges
Payment of amount due to other funds
at December 31, 1958
$ 2,655.99
3,922.04
21,876.19
18 222.6
44,020.87
5,000.00
46.87 9,067.74
51,723.73
$22,878.00
57.20 $22,935.20
3,508.91 26,444.11
Balance at December 31, 1959 $25,279.62
—38—
PARK CONSTRUCTION FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1959
ASSETS
Cash:
On deposit
Investments:
Edina Park System Bonds — at face value
Fixed assets — at cost:
Land
Construction in progress
Equipment
LIABILITIES AND SURPLUS
Due to other funds
Trade accounts payable
Surplus invested infixed assets
Reserve for construction
* Indicates red figure.
$ 1,616072#
96,000000
$323,309092
226,783.53
1,119.97 551,213042
$645,596°70
$ 2,023051
4,615.25
551,213.42
874744052
$645,596070
-40-
PARK CONSTRUCTION.. FUND
ANALYSIS OF RESERVE FOR CONSTRUCTION
VILLAGE OF EDINA
Year Ended December 31, 1959
Balance:at'January 1, 1959
Additions:
Transfer from Liquor Dispensary Fund
Deductions:
Purchase of fixed assets
Balance at December 31, 1959
$ 98,447.96
75,000.00
$173,447.96
85,703.44
87,744052
-41-
PARK CONSTRUCTION FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1959
Balance at January 1, 1959
Additions:
Transfer from Liquor Dispensary Fund
Increase in liabilities:
Balance at December 31, 1959:
Accounts payable
Due to other funds
Balance at January 1, 1959:
, Accounts payable
Deductions:
Purchase of fixed assets
* Indicates red figure.
$75,000.00
$4,615.25
2,023.51
$6,638.76
$ 2,582.96
135°00 6.503.76 81.503.76
$84,086.72
85.703.44
Balance at December 31, 1959 $ 1,616.7211
-42
PARK CONSTRUCTION FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December 31, 1959
Land
Highway 169 and Hanson Road
Hays Farm property
Coffman property.
Cornelia property
Pamela Park
Jackson and Belmore Lane area.
Sixty- second and Beard area
Fifty- second and Arden area
Sixty- second and Tracy area
Unallocated
Construction in progress:
Wooddale and 50th
57th and Chowen
Lake Cornelia area
Pamela area
52nd and Arden
Normandale area
Jackson and Belmore Lane area
East.Mirror Lake area
55th and York
62nd and Beard
Other park areas
Unallocated
Equipment
15,007009
195,436.25
12,639.48
41,600.00"
1,190.0,0'
10,921,05
26,650000
1,250.00
18,300.00
316005
$ 18,621.06
5,508067
40,458.38
82,904,84
7,386.65
25,649.71
3,706014
20,551.15
6,781.03
4,529.78
2,346.72
8,339.40
Balance at December 31, 1959
$323,3o9e92
226,783.53.
1,119097
$551,213042
—43—
PARK SINKING FUND
BOND AND INTEREST MATURITIES, DEFERRED TAX LEVIES, AND RESERVE FOR UNCOLLECTIBLE TAXES
VILLAGE OF EDINA
December 31, 1959
Annual maturity and interest date
March 1, and
September 1
Interest rates 3.4 %, 3.7%
and 3.9%
*Indicates red figure.
Deferred:
Levies
48,000.00
49,000.00
50,000.00
51,000.00
52,000.00
53,000.00
54,000.00
55,000.00
56,000.00
57,000.00
58,000.00
59,000.00
60,000.00
61,000.00
62,000.00
63', 000.00
64,000.00
65,000.00
66,000.00
$1,083,000.00
-39-
Allowance for
Uncollectible
Year,
Bonds
Interest
Taxes
1961
$ 15,000.00
25,835.00
7,165.00
1962
15,000.00
25,325.00
8,675.00
1963
15,000.00
24,815.00
10,185.00
1964
15,000.00
24,305.00
11,695.00
1965
15,000.00
23,772.50
13,227.50
1966
15,000.00
23,217.50
.14,782.50
1967
30,000.00
22,385.00
1,.615.00
1968
30,000.00
21,275.00
3,725.00
1969
30,000.00
20,165.00
5,835.00
1970
30,000.00
19,055.00
7,945.00
1971
30,000.00
17,945.00
10,055.00
1972
40,000.00
16,650.00
2,350.00
1973
40,000.00
.15,170.00
4,830.00
1974
40,000.00
13,650.00
7,350.00
1975
40,000.00
12,090.00
9,910.00
1976
40,000.00
10,530.00
12,470.00
1977
50.,000.00
8,775.00
5,225.00
1978
50,000.00
6,825.00
8,175.00
1979
50,000.00
4,875.00
11,125.00
1980
50,000.00
2,925.00
52,925.00*
1981
50,000.00
975.00
50,975.00*
TOTAL $690,000.00
$340,560.00
$52,440.00
*Indicates red figure.
Deferred:
Levies
48,000.00
49,000.00
50,000.00
51,000.00
52,000.00
53,000.00
54,000.00
55,000.00
56,000.00
57,000.00
58,000.00
59,000.00
60,000.00
61,000.00
62,000.00
63', 000.00
64,000.00
65,000.00
66,000.00
$1,083,000.00
-39-
* Indicates red figure.
_ Total _
Elimination Construction
ASSETS
Cash:
Demand deposits
$ 76,342.70
14,277:40
Time deposits
0
$ 12 ,342:70
14,277.40
Investments
1,651,546.51
95,000.00
Receivables:
Special assessments:
Current - certified in 1959 -
collectible in 1960
$1,069,734.07
Delinquent
176,567.14
Deferred
5,406,282.97
Taxes and assessments receivabl-e -
Village share of projects:
Current
14,627.53
Delinquent
907.15
-Deferred
161,241-15
,829,360.01
$ - -
Less allowance for delinquent taxes
514,516.57
,314,843.44
- --
Due from other funds
158,202.33
47,964.51
Due from Construction Fund for advances
-
399,006.24
Prepaid interest
26,219.65
Construction in progress:
Current
493,032.55
493,032.55
Deferred
374,292.45
374,292.45
Unallocated construction costs
_ 101,599.16
16,706..16
$9,246,078.79
$399,006.24 $1,041,273.07
LIABILITIES, RESERVES AND SURPLUS
Accounts payable
$ 1,699.19
Accrued interest
55,278.58
Canceled assessments refundable
3,217.73
Due to Hennepin County
11,507.15
Due to other funds
137,929.01
$ 17,202.75
Construction contract payable
374,292.45
374,292.45
Watermain and sewer connection deposits
74,018.88
74,018.88
Advance from Improvement Funds
-
$399,006.24 399,006.24
Loan from General Fund
150,000.00
150,000.00
Payable to City of Minneapolis for Village
share of sewage disposal plant
13,167.79
Bonds payable
7,897,000.00
Reserve for assessment adjustment
19,715.86
Reserve for construction
26,752.75
26,752.75
Surplus - unappropriated
_ 481,499.40
$9,246,078.79
$399,006.24 $1,041,273.07
* Indicates red figure.
IMPROVEMENT FUNDS
COMBINED .BALANCE SHEET
VILLAGE OF EDINA
December 31, 1959
$13,167.79
36,000.00 48,000600
33,000.00
250,000.00
1109000.00
165,000.00
580,000.00
225;000.00
1952
1953
5,560,000.00 5005-000..00
1,001.08#
877.66#
.143.73#
1,755.39 #,
- 7,789.37
Joint
Permanent
1950 Improvement
12,198.13
1951 Improvement
1,130.34 31,140.67 25,552.=52 3 1,223..48
Improvement
52.,872.30 _
Improvement_
Sanitary
45,864.68.
1954 Improvement
_
Improvement,
191,191.31'.. 567.97#
Sewer
Improvement
First
Second
First
Second
$231,799.44
First
First
Sewer
Southdale
First
Second
Bond
Temporary
No. 1
Revolving
-
Series _
Seii_e_s
_ Series
Series
Series
Series
No. 53
Improvement
-
Serifs
Series
Redemption
Improvement
298.13
5,322.41
1,680.81
449.96
707.92
$ 375.80
$
3,824.39
_1,568.02
3,077.81
$ 21,.011.99
$ 1,193.09#
559.66
$ 14,272.38
$ :10,109.11
50-, 000..00
298.13
$ 5,322.41
1,680.81
- 449.9;
_
707.92
. 375.80
3;824.39
,1,568.02
3,077.,81
$ 21,011.99
$ 1,193,.09#
559.66
64,272.38
$'iO 109.11
14,000..00
45,000.00
6% 000..00
23,000.00
160;000.00
64,000.00,
10&.000.00
140,000..00
65,000..00
58,.000..00
67,000..00
741,546.51
:10,000..00
$17,414.22
8,434.87
41598.38
t 9,158.41.
61,044.37
$
13,916.37
29,536.52
44,730.98
$ 28,083.13
$ 14,787.56
58,441.-23
$ 779,588.03
$ 704.37
3,920.01
4,014.36
2;,170.21
11,963.14
1,668.53
:6,567.91
9,,506.94
1,492 :20
634.75
169141.31
117,783..41
23,302.25
8,010.39
3;837.78
14,197.29
114,881.31
32,472.86
87;947..79
..342,06Q.4.2
73,.961.69
45,348.53
195,487..60
4,464,77.5.06
5,4217.53
9,200.00
786.10
121.05
704.37
$44,636.48
20,459.62
;436.16
_
$25,525.91
$187,888.82
$
9 ;834.00
63,319.29.
124,_052.22
69 098.54
4 ,182.98
103,537..02
0,770..84
270,070.14
82 308.61
5,453.,776.16.-
704:37
5,955.83 ..
896.`62
;421_81
3 338.00
20,759.42
$
4,770.74.
58,548.55
12,442.13
37 96 ..60
6 5_s4 _. +l
3;641..55
28,.837.75
384,189. -31
$
$ -
$38,680,65
15,563.00
$ 8 ;014.35
22,187.91
$167,129.40
X11,610.09
428,218.38
X6,942.58
$ 57,129..29
$241,232.39
$5,o69,586.85
-
21629.75
1,530.94
56,954.24
46,045.82
3,077.07
44,061.48
125,055.24#
480,000.00
26,219.65
-
-
- .
2,799:05
82,093.95
-
$14,298.13
$44,003.06
----------
$62,,243. -81
$80;094_06
$45,895.83
$327,505.20
$127,903.88
_
$21- 3,178.11
__- _17__11
$628,250.43
$231;799.44
$113,936.20
$352,:853..53
$5,861,74.1.17,
$500,109.11 .
_ 1111__
$ 1,699.19
$ _ 244.00
$ :256.00
$ 256.67
$ 512.50
$
11,008.33
$ 1,595.00
$ 2,,185.00
$ 760.00
$. 2,061.67.
45,722.33
$ 677.08
$ 213.41
12.27
112..56
64.33
2,.815.16:.
84.55
.171.55
79.95
93.50
313.95
104..80
152'..60
$ 2,385.7.5
112.70
132..50
480.40
7,394.90
13,565.51
275.74
,534.63
23,837.62
21701.80
11,762.26
4,.573.71
12,285•,15
.51,189:84
$13,167.79
36,000.00 48,000600
33,000.00
250,000.00
1109000.00
165,000.00
580,000.00
225;000.00
95,000..00
.295,000..00.
5,560,000.00 5005-000..00
1,001.08#
877.66#
.143.73#
1,755.39 #,
- 7,789.37
1,055.26
722.52
12,198.13
1,728.44.
1,130.34 31,140.67 25,552.=52 3 1,223..48
.13,411.05
52.,872.30 _
1.5,7.80:01
26,878.88
45,864.68.
3,446.48
12;747.47
;30,828.18
191,191.31'.. 567.97#
$14,298.13 $44,003.06 $621,243.81 $80,094..06
-: $45.,895:83.
$327,505.20
$127,903..88
I
$213,178.11
$628,250.43
$231,799.44
$113,.936.20
$352,853.-53
$5,861,741.1.7 $500 - ,109,11,
-44-
Balance at January 1.,' 1959
Additions:
Interest spread on assessments for collection
in 1960
Interest collected by Village on prepayments
on special assessments
Accrued interest on sale of bonds
Income on investments
Capitalized interest
Over — collection on special assessments
and taxes
Write off of liabilities
i
Deductions:
Interest on bonds
Bank service charges
Cost of bond sales
Cancelations and adjustments
Transfer from Temporary Improvement Fund
Transfers — add — (deduct):
Allowance for delinquent taxes
Reserve for assessment adjustments
Balance at December 31, 1959
# Indicates red figure.
Joint
Sewer
Total No. 1
$350,- 564.14 $ 585.58
$317,296.95
30.70
827.13
25,928:14
$ 539.92
22,420.00
303.32
3.545.02
$370,351.26
539.92
$213,748.75
.1,488.57
792.48
2,590:02
$218,619.82
$ -
4502;295 -.58..
$19125.50.
($ 209947.74)
$ 4.84
15l,56
( 20,796: -18)
On, 4.84
$4819499.40
$1,130.34
-45-
i
f
i
IMPROVEMENT FUNDS
STATEMENT OF
SURPLUS - UNAPPROPRIATED
VILLAGE OF EDINA
r
Year Ended December 31,
1959
Permanent
1950 Improvement
=1951- Improvement
1952
Improvement
1953
Improvement'
Sanitary
Sewer
Southdal.e
1954 .Improvement
First
Second
Improvement
p.
Bond
Temporary
y
Improvement
Revolving
First
Series
Second
Series
First
Series,
Second
Series
First
Series
First
Series
No. 53
.- Improvement
Series
Series.
Redemption
P
Improvement
$22,599.93
$21,095.37
$29,557.14
$12,666.67
$44,594.17
$12,703.28
$21,981°81
$37,915.76
$29-664:92
$ 8.,368.91
$ 18,955.14
$111,225.43
$ 5,650.03
$ 1,908.50
$ 780.35
401':75
$ 19098,42
$ 89408,44
29198.73
$ 5,602.31
$18,418.64
$5,001.,81
$.,2,868.07.
$12,083.6o
$258',526.33
•25
.35
2.30
.61
11.76
5.35
9.63
•45
781.99
$ 45.14
1,139.27
.19658.67
476.22
3,.867.84
(1576,40
2,190.71
3,683.85
2,251.23
994.62
1,133.85
4,821.44
1,594.12
22,420.00
11.77
284.16
7.39
3.545.02
$ 5,453:52
$ 1,931.64
$ 2,344.5$
$ 1,582.38
$12,278.58
,3,775.74
7,804:'78
$22,107.84
$7,253.04
$ 3,872:32
$'13,217.90
$286,549.76
1 1,639.26
$ 732.00
$ 768.00
$ 773.00
$ :6,150.00
$ 3,025.00
$ 4,785.00
$18,327.50
$6,647.50
$ 2,160.00
$ 6,360.00
$136,793.67
$27,227.08
12.00
6.00
8.00
19.20
7.56
11,96
45.82
49.38
5.40
107.30
423.95
792.00
792.48
$.. 41.08
300.00
217.65
- 29031.29
20,161.82
20,161.82#
$ 41.08
$ 744.00
1,074.00
$ 781.00
$ 6,169.20..
:$ 3,032.56
$ 4,796.96
$18,373.32
6 6 6 88
$ 2.165.40
$ 6,684.95
$160.203:21
$ 7.857.26
$28,012.37
$22,283.01
$30,827.72
$13,468.05
$50,703.55
$139446.46
$24,989.63.
$411.650.28
$3,221.08
$10,075.83
$25,488.09
$237,571.98
$. 567.97#
$ 3,128.30.
$ 3,117.95
$ 395.76
($ 57.00)
$ 2,168.75
$ 21333.55
$ 1,889.25
$ 4,214.40
$ 225,.40
$ 2,671.64
$ 5,340.09
($ 46,380.67)
$ 3,128.30
151.:56
$-3,269.:51
$ 395.76
($ 57.00)
$ 2,168.75
$ 2,333.5
$'1,889.25 .'
$ 4.214.40
225.40
$:2.67.1:64
$ 5.340.09
($- 46.380.61)
$ -
$31,140:67
$25,552.52
$31,223,.48'
$13,411.05 '
$52,872.30
$15,780.01
$26,878.88 .:
- $45;'864.68
$ 3;446.48..
$12,747..47
$30.,828.18
$191,191.31,
$ 567.97*
-45-
Balance at January 1, 1959
Additions:
Remittance from County Auditor:
On special assessments
On taxes.receivable
Collections by Village•on special assessments:
.Principal
Accrued interest.
Proceeds from sale of bonds:
Principal
Accrued interest and premium -
Sale of investments
Collection from other funds accrued at December 31, 195$
Advance from Improvement Funds
Increase in watermain and sewer connection deposits
Payment received on connection charges
Collections received for construction work performed:
General Fund
Others
Unexpended balance assessment refund account
Other
Interfund transfer
Deductions:
Construction costs charged to other funds:
General Fund
Permanent Improvement Revolving Fund
Improvement Fund
Waterworks Fund
Other
Increase in construction in progress:
Balance at December 31, 1959:
Current construction $493,032.55
Deferred construction 374,292.45
Unallocated costs 16,706.16
Balance at January 1, 1959:
Current construction $454,419.97
Deferred construction 26,629.15
`Unallocated costs 1,568.00
Less increase in contracts payable:
Balance at December 31, 1959
Balance at January 1, 1959-''-
Less amount due General Fund
(Total Carried Forward)
$ 12;511.02
5,565-51
728,528.23
34,399.00
249.50
781,253.26
$88.4,031.16
482,617.12 401,414.04
$1,182,667:.30
$374,292.45
26,629.15 347,663-30
835,004.00
14,125..68
Combined
$ 310,.604.02
$1,o66,001.48
13,634.50
141,326.98
30.70
1,500,000.00
827.13
:1,066,945.14
45,433:57
760,6/+3..83
46,236.99
52,352.39
12,511.02
249.50
2,805.68
20.00
$4,709,018.91
820,878.32
$4,198,744.61
IMPROVEMENT FUNDS
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1959
1952 1953
820o878,32 - - - - -
$217,790'.80 $19,536.64 $34,072.61 $57,-833.38 $69,118.41 $21,511.77 - '$229,494.56 $63,580.00 ;$115,727.68 $209,,650.89 $122.,920.77 $50,288::22 $161,300.99 $1,272,938..76. $1,552,979.13
'46-
Joint
Permanent
1950 Improvement
1951 Improvement
Improvement Improvement
Sanitary
1954,improvement
Improvement
Sewer
Improvement
First
Second
First
Second
First
First
Sewer
Southdale
First
Second
Bond
Temporary
Construction,:
No. 1.
Revolving
Series:".
TSeries
Series
Series
Series
Series
No. 53
Improvement
Series
Series
Redemption
Improvement
$ 83 9360.80
$15,991.88
$ 2,013.37
$329409.,10`
$50;1,17.69,
1,.670.73
' 5,114.22,
9,482.95
1,243.62
5,549.79
3,68297
, $27,177.39
$ 7,941.00
$ 60;008:93
4,839.58
$ 4.84
$279872.66
$12,033..22.
$ 8,540.•35
$ 9,170.64
$ 63,555.04
$15,792.82,..$
42,415.37
$ 489548:53
$ 26,710.17
$20,587.26
$ 67,078.15'
$ 636,701.85
$ 86,990..58
11.77
7.39
4,700.03.
236.36
'8 ;678.95
1,209.76
642.00
60:78
186.44
1,955.16
19334..27
49428.82
109006.54
1,275.34
P
1,51902
7,846.65
102,139.51
8,722639
.25
.35
2.30
.61.
11.76
5.35
9.63
.45
1,0009000.00
500,000.00
781.99
45.14
$107,017.00
3;539.92
11,139.27
9,.658.67
10;476.22
1589867.84
31,576.40
67,190,71
123,683.85
829251.23
994:62
76,133.85
239,821.44
144,594.12
28,649.9.8
171.14
19,446.21
d
129086.74
3,.079.50
760,643:83
N
46,236:_99
151.56
740.92
692 92-i.
43,7.40
21,620,47
9;001.06
2,300:.89
1.7,407.17
12;511.02
249.50
2,805..68
20.00
804,707.82#
804,707..82
955,308.32
3,544.76
$32,059.24
25,424.28
19,000.72
$19,841.04
$224,380.3Z
54,097.05
$114,484.06
$204,101.10
$119,237..80,
$23;.110.83
.1$1539359.99
$1,212,929.83
$1,548,139.55
820o878,32 - - - - -
$217,790'.80 $19,536.64 $34,072.61 $57,-833.38 $69,118.41 $21,511.77 - '$229,494.56 $63,580.00 ;$115,727.68 $209,,650.89 $122.,920.77 $50,288::22 $161,300.99 $1,272,938..76. $1,552,979.13
'46-
Combined
(Total Brought Forward)
$4,198,744.61
Deductions (contld):
Payment on accruals at December 31, 1958
35,275.27
Investments purchased
1.,953,546.51
Payment to County Auditor-for bookkeeping charges
1,442..10
Transfer to Construction Fund
760,643.83,
Bonds redeemed
1,040,000.00
Interest on bonds
224;296.25
-Bank service charges
1,488.57
Refunds on special assessments
145.32
Payment on connection charges
25,646.17
Cost of bond sale
792.48
Costs charged directly to reserve for assessment adjustments
667.25
Paid to'City of-Minneapol-is -- sewage disposal plant
2,238..51
Prepaid interest
26,219-65
$4,072,,401-91 .
Balance a.t ,December" 31; '1959
$ ` 126;342..70
# Indicates red figure.'
IMPROVEMENT FUNDS
ANALYSIS OF CHANGE IN CASH BALANCE (Cont'd)
1952 1953
-47-
Joint
Permanent
-1950 Improvement
1951 Improvement
Improvement
Improvement
Sanitary,
.1954,Improvement
Improvement
Sewer
Improvement
First
Second
First
Second
First
First
Sewer
Southdale
First
Second
Bond
Temporary
Construction
", No. 1
Revolving
Series
_Series
Series.
Series
Series
Series
No. 53
Improvement.
Series,'.
Series.
Redemption
Improvement
$217,790.80'
".$19,536.64
$34,072.61
$57,833,38
$69,11.41
$21,5.1.77
$229,494.56
$63,580,00
$115,727.68
$209,650.89
$122,920.77
$50,288;22
$161,304.99
$1,272,938.76
$1,552,97;9.13
$ 3,513.40
$28,537.98
42.50
$ 79.50
3,101.89`
200,000.00
"$17,000.00
55,000..00
68,000..00
$20,000.00
.$21.5,000-.00
$64,.000.00
$110,000.00
$1909000.00..
$. 70,000.00
$53:,000:00
$-82,000.00
674,546..51
$ 135,000:.00
66.90
90.35
16.70
22. -85
104.30
20,..10
46.35
269.90
26.90
37.05
87.25:
600.30
53.15
1,036.36#
8,055.99#
3,507.76#
2,070.14#
4,685.92#
300,000.00
480,000.00
25,000..00
70,000.00
.45,000.00
900,000:00
.732.00
768.00
773..00
6,150.00
:3,025..00
4,785.00
18;327.50
6,832 -50
29.160 -00
6;710.00
1479483.25
269550.00
12.00
6.00
8.00
19.20
7.56
11.96
45.82
49.38
5.40
107.30
423.95
792.00
145.32
275.72
534.61
7,845.26
758:94
29824.11
964:-78
1,836.78
10,131.10
474.87
792.48
300.00
367.25
2,238.51
$203,513..40..
19 238.51
28.7 0.20
f56, 152.57:.$68,668.45
$20,:803.85
$229,118.76
X59,755.61:
114114 159: 6
206 573.08
X101,908.78
$51,481.31
160 741.33
26 219.65
1 208 666.38
1;542;.870.02
$ 14,277.40
$ 298.13
$ 5,322.41._.0
1,680..81
$ 449.96
"$ 707.92-"$
•375.80
$ 3,824.39
$ 1,568.02
$ 3,077.81
$ 21,011.99
$ 1,193,09#
$ 559.66
$ 64,272,38
$ 10,109_.:11.
-47-
Annual maturities and
interest dates
Interest rates
Year
IMPROVEMENT FUNDS
BONDS PAYABLE
VILLAGE OF EDINA
December 31, 1959
Tota 1
1960
690,000.00° $14,000.00 415,000.00
$11,000.00 $ 60,000.00
119000.00 65,000.00
$ 20,000.00 $
20,000.00
1952
1953
30,000.00
15,000.00
$20,000.00
15,000.00
$ 55,000:00:
55,000.00.
415,000.00
505,000.00 $500,000.00
1961
1962
1,240,000.001 14,000.00 15,000.00
757,000.00 8,000.00 18,000.00
11,000.,00 60,000.00
20,000.00
25,000.00 $
45,000.00
Improvement
Improvement
40,000.00
500,000.00
1963
730,000.00'
Improvement
25,000.00
1950 Improvement Fund
1951 Improvement Fund
Fund
Fund
Sanitary
Southdale
1954 Improvement Fund
Bond
Temporary
First
Second
First
Second
First
First
Sewer
Improvement
First
Second
Redemption
Improvement
Series
Series
Series
Series
Series
Series
No. 53
Fund
Series.
Series
Fund
Fund
259000.00_
5009000.00
1967
565,000.00
March 1,
March 1,
March 1,
June 1,
March 1,
March 1,
January 1,
March l,.
March 1,
March 1,
March 1,
and
and
and
and
and
and
and
and
and
and
June 1,
15,000.00
September 1
September 1
September .l
December 1
September 1
September 1
July 1
September 1
September, 1
September 1
September 1
105,000.00
1971
160,000.00
40,000.00
15,000.00
and
1972
160,000.00
409000.00
159000.00
105,000.00
1973
Decemberl
1 7/10% and
2 6/10%
2-3/10%
2 4/10% and
2 3A%
2 9/10%
3 1/4% and
17/10% 10%
2 410%
1 3/10%
2% to
3 1/4%
2 3110%
and 3 %.
2 9/10%
105,000.00
3 1/10%
and 3%
to 2.3%
3 9/i0%
1960
690,000.00° $14,000.00 415,000.00
$11,000.00 $ 60,000.00
119000.00 65,000.00
$ 20,000.00 $
20,000.00
50,000.00
25,000.00
$
30,000.00
15,000.00
$20,000.00
15,000.00
$ 55,000:00:
55,000.00.
415,000.00
505,000.00 $500,000.00
1961
1962
1,240,000.001 14,000.00 15,000.00
757,000.00 8,000.00 18,000.00
11,000.,00 60,000.00
20,000.00
25,000.00 $
45,000.00
15,000.00
15,000.00
40,000.00
500,000.00
1963
730,000.00'
65,000.00
25,000.00
25,000.00
45,000.00
15,000.00
15,000.00
40,000.00
500,000.00
1964
660,000.00
25,000.00
20,000.00
45,000.00
15,000.00
15,000.00
40,000.00_
500,000.00
1965
635,000.00+
20,000..00.
45,000.00
15,000.00
159000.00
40,000.00
500,000.00
1966
580,000.00
40,000.00
i5;0o0.00
259000.00_
5009000.00
1967
565,000.00
40,000.00
15,000.00
510,000.00
1968
3859000.00
40,000.00
15,000.00
3309000.00
1969
385,000.00
40,000.00
15,000.00
330,000.00
1970
160,000.00
40,000.00
15,000.00
105,000.00
1971
160,000.00
40,000.00
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
40,000.00
105,000.00
1975 145,000.00
40,000.00 105,000.00
1976 105,000.00 105,000.00
1977 105,000.00 105,000.00
1978 65,000.00 65,000..00
1979 65,000.00 65,000.00
TOTAL $7,897,000_00, $36,000.00 $48,000.00 $33,000.00 $250,000 -00 $110,000_00 $165,000 -00 $580,000.00 $225,000.00 $95,000 -00 $295,000- 00.$5,560,000.00 $500,000.00
-4&
WATERWORKS FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1959
ASSETS
CURRENT ASSETS
Cash:
Demand deposits
Appropriated funds
Working fund
Investments:
United States Government securities — at cost
Accrued interest receivable
Less amounts segregated and shown below
Accounts receivable:
From customers
Due from General Fund
Inventories:
Meters— at cost
Supplies — estimated
Prepaid expenses:
Insurance
Interest
OTHER ASSETS
Segregated securities — for reserve for
debt retirement
FIXED ASSETS — Note A
Land
Land improvements
Building and equipment
Less allowance for depreciation
Construction in progress
$
17,385.97
19,390.75
25.00.
36,801.72--
164,673.62
212.68
$
164,886--30
47,379.25
117,507.05
$
35,964.97
6,938.96
42,903.93
$
5,87704
1,750..00
7,627.04
$
316.30
2,389.17,
2,705.47
TOTAL CURRENT ASSETS, $ 207,545.21
$ 27,431.38
7,436.64
3,069,182.46
$3,104,050.48
397,525.64 $2,706,524..84
292,533.67
47,379.25
2,999,058.51
$3,253,982.97
LIABILITIES AND SURPLUS
CURRENT LIABILITIES
Accounts payable and accrued expenses:
Trade accounts
Salaries and wages
Interest
Due to other funds:
Construction Fund
General Fund
Current maturities of bonds payable
LONG —TERM DEBT
Bonds payable — Note B
Less current maturities — shown above
SURPLUS.
Invested in fixed assets
Revaluation of fixed assets — Note A
Contributed by special assessments — Note A
Contributed by General Fund.
Earned:
Appropriated
Unappropriated
See notes to balance sheet.
38,397.32
617.94
5,521.00 $ 44,536.26
'$ 34,399.00
837.91 35,236.91
31..000.00 66,236.91
;TOTAL CURRENT LIABILITIES $ 110;773.17
$ . 563,,:000.00
31,000400 .532,000.00
$ 313,849,07
31,423.40
2,076,480.22
14,305.82 $2,436,058.51
$ 66,770.00
108,381.29 175,151.29
2,611,209.80
$3,253,982.97
-49-
WATERWORKS FUND
NOTES TO BALANCE SHEET
VILLAGE OF EDINA
December 31, 1959
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 con-
struction cost with contra - credit to surplus contributed by special assessments.
Each of the afore - mentioned 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:
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 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. Bonds maturing after
March 1, 1970 of the 1959.issue shall be subject to redemption and prepayment at
the optioh of the Village on said date and any interest date thereafter, at a
price of par and accrued,in'terest, plus a premium of $10.00 for each bond
redeemed, and in inverse'order'of their serial numbers. Thirty days prior notice
must be given to bondholders..'
-50-
1947.Issue:
1953 Issue
1955 Issue
1959 Issue
Total
Annual maturities
March 4 and
March 1, and
March 1, and
March 1, and
and interest dates
Septemberl
Septemberl
September 1
September 1
Interest rates
2.50% and
2.30% and
2.80% and
2.751P
2.75%
2.50% and
3.'10% and
2.60%
3.40% and
3.50%
Annual amount of
maturities:
1960
8,000.00
5,000.00
10,000.00
$ 8,000.00
$ 31,000.00
1961
10,000.00
5,000.00
10,000.00
8,000.00
33,000.00 - --
1962
10,000.00
5,000.00
10,000.00
8,000.00
33,000.00
1963
10,000.00
5,000.00
10,000.00
8,000.00
33,000.00
1964
10,000.00
5,000.00
10,000.00
8,000. 00
33,000.00.
1965
10,000.00
5,000.00
10,000.00
8,000.00
33,000.00
1966
10,000..00
10,000.00
10,000.00
8,000.00
38,000.04.
1967
10,000.00
10,000.00
10,000.00
8,000.00
38,000.00
1968
30,000.00
8,000.00
38,000.00
1969
30,000.00
8,000.00
38,000.00-
1970
20,000.00
-15,000.00
35,000.40-
1971
35,000.00
35,000.00
1972
35,000.00
35,000.00
1973
35,000.00
35,000.00
1976.
35,000.00
35,000.00
1975
40,000.00
40,000.00
$78,000.00
$50,000.00
$160,000.00
$275,000.00
$563,000.00
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 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. Bonds maturing after
March 1, 1970 of the 1959.issue shall be subject to redemption and prepayment at
the optioh of the Village on said date and any interest date thereafter, at a
price of par and accrued,in'terest, plus a premium of $10.00 for each bond
redeemed, and in inverse'order'of their serial numbers. Thirty days prior notice
must be given to bondholders..'
-50-
WATERWORKS FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year Ended December 31, 1959
Balance at January 1, 1959
Additions:
Net income for year
Watermains contributed by special
assessments
Transfers:
Provision for depreciation
Adjustment for fixed assets acquired
from surplus
Bonds retired
Increase in appropriation of funds
for reserve for debt retirement
Balance at December 31, 1959
*Indicates deduction.
Total
$2,301,948784
37,137.70
272 123.26
2,611,209.80
$2,611,209.80
Contributed Contributed-
by by
Assessments General Fund Revaluation
$1,847,256.40 $i4,633.43 $32,105.38
272 123.26
2,119,379.66 $14,633.43
# 42,899.44# 327.61#
$2,076,480.22 $14,305.82
32,105.38
681.98#
$31,423.40
-51-
Invested
Earned Surplus
in Fixed
Unappropriated
Appropriated
Assets
$ 91,- 935.29
$46,025.63
$269,992.71
37,137.70
129,072.99
$46,025.63
269,992.71
71,562.09
27,653.06
48,509.42#
48,509.42
23,000.00#
23,000.00
20,744.37#
$20,744.37
$108,381.29
$66,770.00
$313,849.07
Contributed Contributed-
by by
Assessments General Fund Revaluation
$1,847,256.40 $i4,633.43 $32,105.38
272 123.26
2,119,379.66 $14,633.43
# 42,899.44# 327.61#
$2,076,480.22 $14,305.82
32,105.38
681.98#
$31,423.40
-51-
WATERWORKS FUND
STATEMENTS OF INCOME AND EXPENSE
Number of meters in use:
At end of year
At beginning of year
Income:
Sale of meters
Less cost of meters. sold
GROSS PROFIT ON METERS
Water sales
Penalties
Water connection permits
Tapping fees
Street opening fee
Use of hydrants
Miscellaneous
Expenses:
Pumping:
Labor
Power and light
Supplies
Buildings:
Labor
Fuel
Supplies
Telephone
Repairs
Insurance
Water purchased
Provision fbr depreciation
Repairs
Distribution:
Labor
Materials and supplies
Operation of meters:
Labor
Supplies and expenses
Provision for depreciation
Repairs
Tanks and towers:
Labor
Power
Supplies
Provision for depreciation
Insurance
VILLAGE OF EDINA
Year Ended December 31, Increase
1959 1958 Decrease*
Per Cent to
Gross Income
1959 1958
5,047
4,722
325
4,722
4,257
465
21,835.45.
$ 15,380.30
$ 6,455.15
18 918.11
13 702.00
1,678.30
5,216.11
1,239.04
2;917.34
185,189.01
165,451.31
19,737.70
3,249.12
2,279.90
969.22
2,605.00
2,502.00
103.00
435.00
481.00
46.00#
90.00
76.00
14.00
6,938.96
6,445.93
493.03
305.73
05.35
199.62#
201,730.16
$179,419.79
22,310.37
100.0% 100.0%
$ 3,000.04
$ 1,322.22
$ 1,677.82
20,730.71
17,902.22
2,828.49
584.26
528.38
55.88
1,359.51
305.45
1,054.06
1,009.86
664.43
345.43
122.48
178.60
56.12*
201.00
180.75
20.25
371.24
1,419.45
1,048.21#
143.12
92.10
51.02
718.75
819.60
100.85#
11,667.23
10,857.05
810.18
39,908.20
1,96o.12
36,230.37
1,960.12*
3,677.83
19.8% 20.2%
9,158.37
8,184.84
$ 973.53
2,361.13
1,477.16
883.97
5,393.00
3,836.44
1,556.56
1,246.91
717.29
529.62
47,215.95
41,745.05
5,470.90
1.243.72
566.53
677.19
-.6 66,619.08
6 569527.31
10,091.77
33.0 31.5
137.63
$ 19.98
$ 117.65
314.17
262.81
51.36
80.78
-
80.78
10,537.03
8,825.93
1,711.10
290.13
167.25
122.88
11,359.74
9,275.97
2,083.77
5.6 5.2
-52-
WATERWORKS FUND
STATEMENTS OF INCOME AND EXPENSE (Cont'd)
Expenses: (cont'd)
Water treatment:
Labor
Supplies
Provision for depreciation
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
Cost of bond sale
NET INCOME
Year Ended December 31,
1959 1958
68.86 $ 68.52
7,799.43 6,600.42
806.2 792.33
81674.54 T 7,461.27
$ 2,510.00
854.18
3,364.18
$ . 6,000.00
2,635.36
4,921.74
23.36
2,280.00
2,700.00
481.45
1, 000.00
479:97
1 6.00
1 20.677.88
1060.62
51,126.54
3,431-91
54,558.45
$ 16,385.75
60.87
974.13
5 17.420.75
$ 37,137.70
Depreciation charges to operations
included in expenses $ 71,562.09
Increase
Decrease*
$ .34
1,199.01
13.92
1,213.27
Per Cent to
Gross Incorrfe
1959 1958
4.3 4.2
$ 2,350.00 $ 160.00
938-51
3,288.51 75.67 1.7'' 1.8
$ 5,760.00 $ 240.00
2,824.00 188.64*
4,213.80 707.94
87.68 64.32#
1,980.00
300.00
2,000.00
700.00
420.48
60.97
800.00
200.00
394.74
85.23
-
120.00
36.00
600.70
0131,384-13
2,077-18
174.6
10.2
10.3
73.2%
48,035.66
3,090.88
25.4%
26.8%
2,225.8
1 206.07
1.7
1.2
50,261.50
8 4,296..95
27.1%
28.0%
$ 8,175.43
51.72
T-8,227.12
$ 42,034.35
$ 8,210.32
9.15
9,193.60
$ 4,896.65 *,
$ 63,579.35 $ 7,982.74
8.6 4.6
18.5% 23.41-
-53-
WATERWORKS FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1959
Balance at January 1, 1959
Additions:'
Collections on accounts receivable
Sale of investments.
Collection on amount due from other funds
Proceeds from sale of bonds
Income on investments
Sale of water meters
Sundry sales and services
Increase in amounts payable:
Balance at December 31, 1959:
Trade accounts
38,397.32
Accrued payroll
617.94
Due to other funds
35,236.91
Balance at January 1, 1959:
Trade accounts
3,403.60
Accrued payroll.
404.74
Due to other -Funds
802.00
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
Costs of bond sale
Refunds on accounts receivable
Operating expenses
Less provision for depreciation
Increase in prepaid expenses:
Insurance
Interest
Summary:
Operating Fund
Sinking Fund
TOTAL
$ 63.70
$185,427.00
495,371.90
8,325.39
275,049.25
3,219.23
21,835.45
3,423.73
$ 74,252.17
$ 56,984.13
4,610.34 69,641.83 1,062,293 78
$1,119,277.91
$619,673.62
20,065.06
$595,696.38
272,123 26 272,186.96 323,509.42
$ 23,000.00
13,569.84
60.87 36,630.71
974.13
18.21
$150,603.62
71.562.09 79,041.53
$ 199.34
2,389.17 2,588.51 1,082,501.19
Balance at December 31, 1959
$ 17,385.97
19,390.75
$ 36,776.72
$ 36,776.72
-54-
WATERWORKS FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December 31,:-1959
Land '
Land improvement
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 trucks
Tools
Construction in progress
TOTAL
A s s e t s
Balance Balance
January December
1. 1959 Additions Deductions 31, 1959
27,481.38 $ 50.00 $ 27,431.38
6,459.81 1,360.53 13.70 7,436.64
Allowance for Depreciation
Balance Balance
January December
1. 1959 Additions Deductions 31, 1959
711.75 257.11 968.86
181,895.93
$ 35,098.30
216,994.23
64,242.71
3,988.90
2,009.,358.96
272,123.26
2,281,482.22
1 ,62,102.56
42,899.44
16.380.66
16,380.66
1,747.23
327.61
$2-,207,635.55
$307,221.56
-
42,514,857.11
4228,092.50
$47,215.95
$ 59,173.45
$ 59,173.45
$ 9,846.83
$ 2,366.91
127,926.64
127,926.64
1.9,983.65
5,117.07
76,689.29
769689.29
26,392.85
3,926.14
262,748.79
262,748.79
36,024..99
10,537.03
2,214.30
$ 158.25
2,372.55
1,204.54
234.62
3,360.88
39360.88
663.20
246.83 ,
15,.897.79
454.62
169352.41
2,030.94
806.25 '
- 4,050.30
2,746.12
$1!465.65
:5,330.77
2,477.95
854.18 `
350.00
20.57
370.57
-
$ 552,411.44
$ 3,379.56
$1,465.65
$ 554,325.35
$ 98,624.95
$24,089.03
$29793,618.18
$311,961.65,
$1,529.35
$3,104,050.48
$327,429.20
$71,562.09
8,798.94
283,734.73
292,533.67
-
$2,80.2,417.12
$595,696.38
$1,529.35
$3,396,584.15
$327,429.20
$71,562.09
$1,465.65
$1,465.65
$1,465.65
$1,465.65
68,231.61
205,002.00
2.074.84
$275,308.45
$ 12,213.74
25,100.72
30,318.99
46,562.02
1,439.16
910,03
2,837.19
1,866.48
$121,248.33
$397,525.64
A 'IQ7_r2r, _AA
Net
_Balance
December
31. 1959
$ '27,431:38
6,467.78
148,762.62
2,076,480.22
14,305.82
$2,239,548.66
$ 46,959.71
102,825.92
46,370.30
216,186.77
933.39
2,450.85
13,515.22
3,464.29
370.57
$ 433,077.02
$2,706,524.84.
292,533.67
$2,999,058.51
-55-
SEWER RENTAL FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1959
AS SETS
CURRENT ASSETS
Cash:
Demand deposits
Receivables.:
From customers
Assessments receivable
FIXED ASSETS - at cost
Land improvements
Furniture and fixtures
Trucks
Machinery and equipment
Less allowance for depreciation
CURRENT LIABILITIES
Trade accounts payable
Accrued payroll.
SURPLUS
Invested in fixed assets
Available
LIABILITIES AND SURPLUS
$12,465.56
$13,428.25
12.75 13,441.00
TOTAL CURRENT ASSETS $25,906..56
$ 2,554.44
1,081.23
3,247.86
19 983.11
26,866.64
6,433.94 20,432.70
$46,339.26
$19,893.72
287.88
TOTAL CURRENT LIABILITIES 20,181.60
$20,4j2..70
5,724.96 26,157.66
$46,339.26
-56-
Balance at January 1, 1959
Additions:
Net income for.year
Transfers:
Additions,to fixed assets
Allowance for depreciation
* Indicates deduction.
SEWER RENTAL FUND
STATEMENT :OF SURPLUS
VILLAGE OF EDINA
Year Ended December 31, 1959
Invested
in Fixed
Available Assets
$1,058.50 $20,,287:09
4,812.07
5,870.57 20,287.09
2,570.39# 2,570.39
2,424.78 2,424.78#
�1 .61'� $ 145061
Balance at December 31, 1959 $5,724.96 $20,432.70
-57-
SEWER RENTAL FUND
STATEMENTS OF INCOME AND EXPENSE
VILLAGE,OF EDINA
Operating income:
Service charges and penalties
Expenses:
Operating:
Sewer maintenance and treatment
Labor
Supplies
Repairs
Water
Power
Provision for depreciation
Vehicle operation: .
Allocated from equipment pool
Provision for depreciation
Administrative and general:
Clerical and supervisor
Auditing
Supplies, telephone, postage
and retirement
Building rent
Provision for depreciation
Miscellaneous
TOTAL EXPENSES
OPERATING INCOME- (LOSS)
Other income:
Income on investments
Miscellaneous
NET INCOME- (LOSS)
Depreciation charges to operations
included in expenses
Per Cent to
Operating
Year Ended December 31, Increase Income
1959 1958. Decrease* 1959 1958
$72,284.19 $57,627.69 $14,656.50 100.0% 100.0%
$35,534.17 $30,076.45 $ 5,457.72
15,311.62 14,891.74 419.88
3,042.36 2,849.04 193.32
1,706.71 492.15 1,214.56
200.00 200.00 -
1,920.68 1,761.78 158.90
1,843.48 1,555.82 287.66
$59,559.02 $51,826.98 $ 7,732.04 82.4% 89.9%
$ 1,610.00. $ 1,500.00 $ 110.00
481.98 314.40 167.58.
$ 2,091.98 $ 1,814.40. $ 277.58 2.9 3.1
$ 3,572.62 $ 3,216.00 $ 356.62
250.00 175.00 75.00
1,800.00 1,380.00 420.00
96.00 6o.00 36.00
99.32 76.59 22.73
5.00 - 5.00
5.822.94 $ 4,907.59 $ 915.35 8.0 8.6
$67,473.94 $58,548.97 $ 8,924.97 93.3% 101.6
$ 4,810.25 ($ 921.28) $ 5,731.53 6.7 %.( 1.6 %)
177:56 177.56# .3
1.82 22.13 20.31# - -
$ 4,812.07 4 721.59) $ 5,533.66
$2,424.78 $ 1,946.81 $ 477.97
6.7% ( 1.3 %)
-58-
SEWER RENTAL FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1959
Balance at January 1, 1959
Additions:
Collections on accounts receivable
Tax settlements received
Collection on amount due from other funds
Other
Deductions:
Expenses for the year
Less provision for depreciation
Purchase of -fixed assets
Paya.bles at January 1, 1959:
Trade accounts
Payroll
Less payables at December 31, 1959:
Trade accounts
Payroll
$ 6,586.14
$70,.818..01
81045
5- ,417.60
1.82 , 769318.88
$82,905.02
$67,473.94
2,424.78 $65,049.16
2,570.39
$22,689.99
311.52 23 001.51
90,621.06
$19,893..72
287.88 20,181..60 70,439.46
Balance at December 31, 1959 $12;465.56
-59-
SEWER RENTAL FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December 31, 1959
-
Balance
Balance
January
December
.1, 1959
Additions
31, 1959
ASSETS
Land improvements
$ 1,.835.98
718.46
2,554.44
Furniture and fixtures
905.13
176.:10
1,081.23
Trucks
1,572.03
1,675.83
3,247.86
Equipment
19,983.11
19,983.11
24,296.25
$2,570.39
$26,866.64
ALLOWANCE FOR
DEPRECIATION
Land improvements
$ 113.37
$ 87._81
$ 201.18
Furniture and fixtures
206.96
99.32
306.28
Trucks
786.00
481.98
1,267.98
Equipment
2,902.83
1,755.67
4,658.50
$ 4,.009.16 $2,424.78 6,433-24
NET BALANCE $20,287.09 $20,432.70
-60-
LIQUOR DISPENSARY FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1959
ASSETS
CURRENT ASSETS
Cash:
Demand deposits
Deposits in transit
Working funds
Investments:
Village of.Edina — Waterworks Revenue Bonds
of 1959 - at cost
Accrued interest
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
$ 17,975014#
15,169.22
_1,750.00 $ 1,055092# .
$ 26,714.67
311.67 27.,026.34
$185,032.80
23,561.68
6,955.10
1,102.68 216,652.26
$ 935.36
150.00
1,085.36
TOTAL CURRENT ASSETS $243,708.04
$ 2,224.47
49,440.72
14,195.23
16,840.43
$821700.85:
$ 16,500.00
amortization 32,519..81 50,181.04''
Construction in progress 34,290.91 100,971.95
$344,679.99
LIABILITIES'ANb'-SURPLUS
CURRENT LIABILITIES
Trade accounts payable
Accrued payroll
Due to General Fund
SURPLUS
Invested in fixed assets
Available
* Indicates red figure.
$ 15,484..85
1,935.70
62.29
TOTAL CURRENT LIABILITIES $ 17,482.84
$100,971.95
226,225.20 327,197.15
$344,679.99
-61-
LIQUOR DISPENSARY FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year Ended December 31, 1959
N
Balance at January 1, 1959
Additions:
Net income for.the year
Deductions:
Transfer to General Fund
Transfer to.Pa.rk Construction Fund
Transfers:
Additions to fixed assets - net
Allowance for depreciation
Balance at December 31, 1959
* Indicates red figure.
0
Invested
in Fixed
Total Available Assets
$291,916.94 $223,163.33 $ 68,753.61
185 280,21 185,2$0.21
477,197.15 408,443.54 $ 68,753.61
$,75,000.00
75,000-00
150 000..00
$327,197.15
$327,197.15
75,000..00
75,000.00
$150,000.0
258,443.54 $ 68,753.61
$ 36,.868.97# $ 36, 868.97
4,650.63 4,.650.63#
$226,225.20 $100,971..95
-62-
LIQUOR DISPENSARY FUND
COMPARATIVE STATEMENT OF INCOME AND EXPENSE.
VILLAGE OF EDINA
Sales:
Liquor
Wine
Beer
Mix and miscellaneous
Less bottle refunds
NET SALES
Cost of sales:
Inventory at January lst
Purchases
Inventory at December 31st
GROSS PROFIT
Operating expenses:
Selling
Overhead
Administrative
TOTAL OPERATING EXPENSES
NET OPERATING PROFIT
Other income:
Cash discounts
Cash over
Other
Income from investments 1,079.07 1,646.78
NET INCOME $ 185;280.21 $155,412.29
Depreciation and amortization
included in expenses $ 2,456.02 $ 2,194.61 $ 4,650.63 $ 2,764.91 $ 2,027.31 $ 4,792.22 $. 308.89# $
# Indicates red figure.
567.71#
A 29.867.92
167.30 $ 141..59#
-63-
Year Ended December 31,
Per Cent to Net Sales
1 9 '5
-1 9 5 8
Increase- Decrease#
50th Street Southdale
50th Street
Southdale
Total
50th Street
Southdale
Total
50th Street
Southdale
Total
1959 1958 1959 1958
$485,272.90
$320,775.82
$ 806,048.72
$442,174005
$259,782.29
$701,956.34
$43,098.85
$6o,993.53
$104,092.38
57,636.03
49,069.70
106,705.73
50,656.82
39,940.14
90096.96
6,979.21
9,129.56
16,108.77
83,520.80
47,643.76
131,164.56
73,049.77
37,677.67
110,727.44
10,471.03
9,966.09
20,437.12
9,318.32
5,501.49
14,819.81
7,700.46
3,776.05
_11,476.51
1,617.86
1,725.44
1 3,343.30
$635,748.05
$422,990.77
$1,058,738.82
$573,081.10
$341,176.15_
$914,757.25
$62,166.95
$81,814.62
$143,981.57
- 937.36
393.00
1,330.36
707.26
252.35
959.61
230.10
140.65
370.75
'$634,810.69
$422,597.77
$1,057,408.46
$572,873.84.
$340,923.80
$913,797.64
$61,936.85
$81,673.97
$143,610.82
100.00% 100.00% 100.00% 100.00%
$104,874.82
$ 69,753.23
$ 174,628.05
$101,110.54
$ 46,397.76
$147,508.30
$ 3,764.28
$23,355.47
$.'27,119.75
496.448.71
342,'357.56
:838,806.27
437,721-52
280,349:99
X26-
718,071.51
58,727.19
62 007.57
85,363..04
120,734.76
$147,854.51
$601,323.53
$412,110,.79
$1;013,434.32
$538,832.06
,;747.75
$865,579.81
$62,491.47
120 756.36
480 567.17
95,895.90 -,.
316 214.89
216,652.26.
796.782.06
1044874.82
$433,957.4
69 753.23
256.994.52
174 628.05
690 951.7
15,881-54
$46,609-93
26 142.67
59220.37
- 42,024.21
105,830.3 0
75.70 75.75 74.83 75.38
25.17%
154,243.52
$106,382.88
$ 260,626-40
$138,916.60
83,929.28
$222,845.88
$15,326.92
22,453.60
37,780.52
24.30% 24.25% 242%
$`23,126.07
$ 17,207.04
$ 40,333.11`;,,$
19,261.93
$ 11,349.61
$ 30,611.54
$ 3,864.14
$ 5,857.43
$ 9,721.57
3.65% 3.36% 4.07% 3.33%
6,037.28
. 15,092.17
21,129.45
5,974.94
14,528.96
20,503:90
62.34
563.21
625.55
.95 1.05 3.57 4.26
11 692.26
40 855.61
8,110.21,.
7> 40,409.45
19,802-50
81,265.o6
13.,020.11
9,205-34
35.-,083-91
22,225.45
73 340.89
1.327.85#
2,598.63
1,095.10#
5 325.54
2,422.95#
7,924-17'
--
_1..84 2.27 1.92 2.70
6.681 -9-56% 10.29
-38,256.98
113,387.91
$ 65,973.43•
$ 179,361.34
4100,b59.62
48,845.37
$149,504.99
$12,728.29
17,128:06
6. 29.8 35
17.86% 17.57% 15.61% 14.33%
2,:886.63
1,854.16
4,740.79
2,385.68
1,619.19
. 4,004.87
500.95
234.97
735.92
.46 .42 .44 .47
102.66
42.91#
59.75
215.72
.15.83
231.55
113.06#
_ ;58.74#
171.80#
.02 .04 .01# .01
39.26
39.26
24010
24.10
15.16
15.16
$116,416.46
$ 67,784.68
$ 184,201.14
.$.103,285.12
$ 50,480.39
.$1.53,765051
$13,131.34
$17,304.29
$ 30,435.63
18.34% 18.03% 16.04% 14.81%
Income from investments 1,079.07 1,646.78
NET INCOME $ 185;280.21 $155,412.29
Depreciation and amortization
included in expenses $ 2,456.02 $ 2,194.61 $ 4,650.63 $ 2,764.91 $ 2,027.31 $ 4,792.22 $. 308.89# $
# Indicates red figure.
567.71#
A 29.867.92
167.30 $ 141..59#
-63-
LIQUOR DISPENSARY FUND
COMPARATIVE OPERATING EXPENSES
VILLAGE OF EDINA
Year Ended December 31
-64-
1 9 5 9
1 9 5 8
Increase - Decrease*
50th Street
Southdale
Total
50th Street
Southdale
Total
50th Street
Southdale
Total
Selling:
Salaries and wages
$21,633.30
$16,207.00
$37,840.30
$18,252.95
$10,468.60
$28,721.55
j $3,380.35
$5,738.40
$9,118.75
Supplies
1,309.03
678.82
1,987.85
939.98
533.93
1,473.91
369.05
144.89
513.94
Dues and subscriptions
Taxes and licenses
79.00
54.00
133.00
69.00
10.00
56.00
10.00
125.00
10.00
10.00#
2.00#
10.00#
8.00
Pro -rata promotion
164.72
164.72
193.08
193.08
28.36#
28.36#
Miscellaneous
104.74
$23,126.07
102.50
$17,207.04
207024.
$40,333.11
$19,261.93
88.00
$11,349.61
88.00
$30,611.54
104.74
$3,864.14
14.50
5,857.43
119024
$9,721.57
Overhead:
Salaries and wages
$ 114.91
$ 25.73
$ 140.64
$ 12.70
$ 106.52
$ 119.22
$ 102.21
$ 80.79#
$ 21.42
Rent
10,412.81
10,412.81
10,207.23
10,207.23
205.58
205.58
Telephone
231030
237.00
468.30
208.89
228.05
436.94
;. 22.41
8.95
31.36
Supplies
171. -80
262.08
433.88
122.71
137.95
260.66
49.09
124..13
173.22
Light and power
975.31
1,041076
2,017.07
826.29
1,082.77
1,909.06
149.02
41.01#
108.01
Heat
'350.23
350.23
312.80
312.80
37.43
37.43
Laundry
287.78
150.86
438.64
208.45
85.79
294.24
d 79.33
65.07
144.40
Burglar alarm
248.00
248.00
125.98
125.98
122.02
122..02
Insurance
614.99
236.01
851.00
596.41
175.72
772.13
18.58
60.29
78.87
Repairs and maintenance
396.45
401.31
797.76
720.51
328.02
1,048..53
324.06#
73.29
250.77#
Depreciation
2,456.02
2,194.61
4,650.63
2,764-91
2,027.31
4,792.22
308.89#
167.30
141.59#
Rubbish hauling
109.50
60.00
169.50•
-
109.50
60.00
169 -50
Miscellaneous
80.99
$ 6,037.28
70.00
$15,092.17
150.99
$21,129.45
75.29
5,974.94
149..60
T1 4,528.96
224.89
$20,503..90
5.70_
$ 62.34
_ 79..60#
$' 563.21
73 -.90#
6 625.55
Administrative:
Salaries
$ 8,262.50
$ 6,250.00
$14,512.50
$10,170.00
$ 7,950.00
$18,120.00
$1,907.50#
$1,700.00#
$3,607.50*
Supplies
384.82
235.58
620.40
380.61
153.00
533.61
4.21
82.58
86.79
Professional services
.1,031.50
515.25
104:6.75
1,060.00
385.00
1,445.00
28.50#
130.25
101.75
Allocated expenses - retirement,
insurance, office supplies, etc.
1,950.00
1,050.00
3,000.00
1,380.00
660.00
2,040.00
570.00
390.00
960.00
Miscellaneous
63.54
59.41
122.85
29 -50
57.34
86.84
33.94
2.07
36.01
$11,692.26
8,110.24
$19,802-50
$13,020.11
$ 9,205.34
� 22, 5.45
1 327.85#
1 095.10#
2 22.95#
TOTAL
$40,855.61
$40,409045
$81,265.06
$38,256.98
$35,083.91
$73040.89
$2,598.63
$5,325.54
$7,924.17
-64-
LIQUOR DISPENSARY FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31., 1959
Balance at January 1, 1959
Additions:
Gross sales
Cash discounts
Interest receivad on investments
Other revenue- -
Deductions:
Merchandise purchased
Bottle refunds
Operating expenses
Less depreciation included therein
not requiring cash
Additions to fixed assets, less
carrying value of disposals
Transfers:
General Fund .
Park Construction Fund
Purchase of investments.
Increase in prepaid expenses
Decrease in liabilities:
Balance at.January 1, 1959:
Trade accounts
Accrued payroll
Due to otheZ. funds
Balance at December 31, 1959:
Trade accounts
Accrued payroll
Due to other funds
*,Indicates red figure.
$ 78,421.19
$1,058,738.82
4,.740.79
1,.775.62
99.01 1,065,354.24
.
1,143,775.43
838,.806..27
1,330.36
$81,265.016
x4,650.63 76,614.43
36,.868.97
$75,000.00
_75,000.00 150,000.00
26,698.93
597.43
$31,434.20
1,619.10
94.50 -$33,147.80 -
$15,484.85
1,935.70
62.29 17,482.84 15,.664.96 1,146,581.35
Balance at December 31, 1959 $ 2,805.92#
-65-
LIQUOR DISPENSARY FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December 31, 1959
AS S ETS
Land
Land improvements
Building
Furniture, fixtures and equipment
Leasehold improvements
Construction in progress
ALLOWANCE FOR
DEPRECIATION AND AMORTIZATION
Land improvements
Building
Furniture, fixtures and equipment
Leasehold improvements
NET BALANCE
Balance
Balance
January
December
1, 1959
Additions
Deductions 31, 1959
$16,.500..00
$ 16,.500.00
1,471..01
$ 763.79
$10033 2,224.47
49,440.72
49,440.72
12,370.63
1,824.60
14,195.23
16,840.43
16,840.43
$96,622.79
$ 29588.39
$10.33 $ 999200..85
34,290.91
34,290..91
$96,622.79 $36,879.30 $10.33 $133,491.76
$ 532.55 $ 77.13 $ 609.68
16,040.52 2,115.13 18,155.65
8,147.28 774.33 8,921.61
,3,148..83 1,684.04 ./+,832.87
$27,869.18 $ 4,650.63 $ - $ 32,519.81
$68,753.61 $100,971.95
AA-
Fund:
General:
Current
Poor:
Current
Park:
Current
Swimming Pool:
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
TOTAL
'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
r
CASH - ALL FUNDS
VILLAGE OF EDINA
December 31, 1959
Demand
and Time
Fore
Working
Deposits
Deposit
Funds
Total
54,583.74
400.00
$ 54,983.74
9,372.40
9,372.40
30,252.76.
30,252.76
3,297.50
3,297.50
25,279.62
25,279.62
1,616.72*
1,616.72#
$110,134.08
$ 1,931.22
$112,065.30
14,277.40
1 277. 0
124,411.48
f 1,931.22
$—
$126,342.70
$ 17,385.97
$ 25.00
17,410.97
19 390.7
19, 390.7
- 36,776.72
25.00
36,801.72
12,465.56
12,465.56
17,975.143'
15,169.22
1',750.00
1,055.92#
$276,847.92
$17,100.44
`$29175.00
$296,123.36
$110,472.72
80,374.57
36 000.63
226,847.92
50,000.00
$276,847.92
_h7
SECURITY FOR DEPOSITS
VILLAGE OF EDINA
December 31, 1959
Demand deposits:
First Edina National Bank
First Southdale National Bank
Midland National Bank of Minneapolis
Time deposits:
Citizens State Bank, St. Louis Park, Minnesota
TOTAL
TOTAL
TOTAL
TOTAL
-68-
Deposits
Security for Deposits
Books
Bank
Amount
Description
$110,472.72
$310063.47
$200,000.00
United States Treasury Bonds
February
16,
1964
10,000.00
Federal Deposit Insurance Corporation
$110,472.72
---------
----
$310,163.47
--- - - - - --
----- - - - - --
$210,000.00
---- - - - - --
----- - - - - --
$
80,374.57
$
96,251.72
$100,000.00
United States Treasury 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
$,80,374.57
$
96,251.72
$130,000.00
$
36,000.63
$
36,000.63
$ 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
$
36,000.63
$
36,000.63
$ 60,000.00
$
50,000.00
$
50,000.00
$100,000.00
United States Treasury Bonds
August
15,
1963
10,000.00
Federal Deposit Insurance Corporation
$
50,000.00
$
50,000.00
$110,000.00
-68-
INVESTMENTS
VILLAGE OF EDINA
December 31, 1959
Interest
Face
Description
Maturity
Rate
Va -lue
United States Treasury Certificates of Indebtedness
February
15,
1960
3 3/4%
300,000.00
United States Treasury Bills
January
21,
1960
Discounted
150,000.00
do
February
4,
1960
do
50,000.00
do
February
18,
1960
do
200,000.00
do
February
25,
1960
do
i50,E�00.00
do
March
10,
1960
do
50,000.00
T- 900,000.00
Village of Edina, Minnesota:
1952 Improvement Bonds
March
1,
1963
2.75%
$ 10,000.00
Sanitary Sewer #53 Improvement Bonds
January
1,
1965
3.25
5,000.00
1954 Improvement Bonds
March
1,
1961
2.40
5,000.00
1955 Waterworks Revenue Bonds
March
1,
1969
and 1970
2:50
-_ 9,000.00
1956 Improvement Bonds
March
1,
1962
and 1963
3.40
96,000.00
1957 Improvement Bonds
March
1,
1971
to 1979
3.70 to 3.90
191,000.00
1957 Park Bonds
March
1,
1968
to 1973
3.70
—96,000.00
1958 Improvement Bonds
March
1,
1961
to 1967
2.00 to 2.70
20,000.00
.1959 Improvement Bonds
June
1,
1969
2.75
100,000.00
.1959 Waterworks Revenue Bonds
September 1,
1971
and 1974
3.40 and 3.50
27,000.00
1959 Temporary Improvement Bonds = Series C
December
15,
1961
3.25
500 000.00
19059,000.00
TOTAL
$1,959,000.00
Balance
Balance
Book Value
January 1,
December 31,
December 31,
1959
Purchased
Sold
1959
1959
Fund Ownership:
Improvement funds:
Special Assessment Funds
-
29,000.00
15,000.00
14,000.00
$ 14,000.00
Improvement Funds
737,000.00
1,942,000.00
1,126,000.00
1,553,000.00
1,542,546.51
Construction
-
200,000.00
105,000.00
95,000.00
95,000.00
Debt Service.
-
737,000.00
2,171,000.00
1,246,000.00
-
1,662,000.00
-
1,651,546.51
.Waterworks
40,000.00
620,000.00
495,000.00
165,000.00
164,886.30
Liquor Dispensary
-
27,000.00
27,000.00
27,026.34
General
30,000.00
82,000.00
112,000.00
-
-
Poor
5,000.00
29,000.00
25,000.00
9,000.00
9,000.00
Park Construction
96,000.00
96,000.00
96,000.00
Park Sinking
5,000.00
5,000.00
-
-
TOTAL
$913,000.00
$2,929,000.00
$1,883,000.00
$1,959,000.00
$1,948,459.15
M.
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
Foor and public nursing
Firemen's relief
Fire-protection
Tax rate by mills:
General
Parks
Bonds and interest
Poor and public nursing
Firemen's relief
Fire protection
TOTAL
TOTAL
TOTAL
December 31,
1959 1958
$23,054,939.00 $21,407,834.00
2,356.778.00 2,534,195.00
$25,411,717.00 $23,942,029.00
1959
1960
$ 587,773.01
,51;077.55
46,503.44
7,877.63
7,623.52
7,623.52
$ 708,478.67
23.13
2.0-1
1.83
.31
.30.
.30
27.88
1958
1959
$ 539,892.75
47,884.06
57,460.87
7,900.87
6,943.19
6,943.19
$ 667,024.93
22.55
2.00
2.40
.33
.29
.29
27.86
-70-
MUNICIPAL COURT FINES
VILLAGE OF EDINA
Year Ended December 31, 1959
Fines and costs imposed and collected:
Balance uncollected January l', 1958
,Fines and costs imposed
Collections by Clerk of Court
Balance Uncollected December 31, 1959
Village
700.00
6 9:00
$57,659-00
57,245.00
$ 414.00
State
and
County
87.00
.Tf,87.00
87.00
Total
700.00
57,046.00
57,746.00
57,332.00
$ 414.00
71
OFFICIAL BONDS
VILLAGE OF EDINA
December 31, 1959
Position N
Name .
.:Term Expires B
Bond Expires A
Amount S
Surety
On file with Clerk- Treasurer:
Blanket position P
Police department employees F
February 1
13, 1
1960 $
$ 2,500.00 T
The A
Aetna C
Casualty and S
Surety C
Company
;. Blai7k'et position A
All Village employees not otherwise
spe.ci- fically bonded F
February 1
13, 1
1960 2
25,000.00 T
The A
Aetna C
Casualty and S
Surety C
Company
Village Manager W
Warren C. Hyde D
December 3
31, 1
1960 F
February 1
13, 1
1960 5
50,000.00 T
The A
Aetna C
Casualty and S
Surety C
Company
Clerk- Treasurer G
Gr.et;chen S. Alden D
December 3
31, 1
1960 F
February 1
13, 1
1960 2
25,000.00 T
The A
Aetna C
Casualty and S
Surety C
Company
On file with Secretary of State:
Clerk of Municipal Court M
Mrs. Dorothy Frazier I
Indefinite N
November 9
9, 1
1960 1
1,000.00 T
The A
Aetna C
Casualty and S
Surety C
Company
Deputy Clerk of Municipal Court K
Kathryn B. Beard I
Indefinite N
November 9
9, 1
1960 1
1,000.00 T
The A
Aetna C
Casualty and S
Surety C
Company
On file with County Auditor:
Assessor Z
Zonadd'L. Kearns D
December 3
31, 1
1960 M
March 1
1, 1
1960 5
500.00 A
Anchor Casualty Company
Deputy Assessor =
= M'ill'icent Towne D
December 3
31, 1
1959 M
May 1
1, 1
1960 5
500.00 A
Anchor Casualty Company
do M
Me`lvina C. Larson D
December 3
31, 1
1959 M
May 1
1, 1
1960 5
500.00 .
. -do
do Y
Yvanne Ford D
December 3
31,'1959 M
May 1
1, 1
1960 5
500.00 d
do
do L
Louis P. Westphal D
December 3
31, 1
1959 M
May 1
1, 1
1960 5
500.00 d
do
do M
Marlys D. Hawthorne D
December 3
31, 1
1959 M
May 1
1, 1
1960 5
500.00 d
do
do L
Loukas Angelus D
December 3
31, 1
1960 S
September 1
1, 1
1961 5
500.00 T
The A
Aetna C
Casualty and S
Surety C
Company
do R
Robert Ridgby D
December 3
31, 1
1960 - S
September 1
1, 1
1961 5
500.00 d
do
_72-
INSURANCE COVERAGE
VILLAGE OF EDINA
December 31, 1959
Automotive:
Bodily injury $250 / 500,000
Property damage 50,000
Comprehensive Actual Cash Value
Village Liquor Store:
Comprehensive glass breakage Actual
Burglary, robbery, and theft - within premises - Note D 5,000
Burglary, robbery, and theft - outside premises - Note D 5,000
Burglary, robbery, and theft - merchandise - Note D 7,500
Other Insurance:
General liability:
-Automotive non- ownership, independent contractor,
and'Village premises - operations:
- Bodily injury 250 / 500,000
Property damage 50,000
Workmen's compensation Statutory
Edina Volunteer Fire Department group accident policy,
maximum each fireman 3,000
Property floater all risk - voting machines 38,275
Note A - 80% coinsurance.
Note B - 90% coinsurance.
Note C -100% coinsurance.
Note D - 50th and Southdale liquor stores.
-73-
Fire
and
Extended
Coverage
Buildings
Contents Other
Building and contents:
Village Hall
$346 000(A)
$44,000(A)
Library
25,000(C)
Tool House Garage
48,000(A)
14,400(A)
Storage Shed
69400(C)
Municipal Liquor Store - 50th Street
.409-000(A)
2,400(A)
Pumping Stations:
Number 1
2,400(A)
29300(A)
Number 2
5,200(A)
3,200(A)
Number 3
7,200(A)
7,000(A)
Number 4
-7;200(A)
6,200(A)
Number 5
9;600(A)7,800(A)
Number 6
9600(A)
8,000(A)
Number 7
8;000(A)
8,300(A)
Number 8
69400(A)
8,300(A)
Number 9
99600(A)
12,200(A)
Water Tower - Concord Street
80•9000(C)
Water Tower - 69th Street
144,000(C)
Inventories:
Liquor Store - 50th Street
$162,500(C)
Liquuor Store - Southdale
70,000(B)
Automotive:
Bodily injury $250 / 500,000
Property damage 50,000
Comprehensive Actual Cash Value
Village Liquor Store:
Comprehensive glass breakage Actual
Burglary, robbery, and theft - within premises - Note D 5,000
Burglary, robbery, and theft - outside premises - Note D 5,000
Burglary, robbery, and theft - merchandise - Note D 7,500
Other Insurance:
General liability:
-Automotive non- ownership, independent contractor,
and'Village premises - operations:
- Bodily injury 250 / 500,000
Property damage 50,000
Workmen's compensation Statutory
Edina Volunteer Fire Department group accident policy,
maximum each fireman 3,000
Property floater all risk - voting machines 38,275
Note A - 80% coinsurance.
Note B - 90% coinsurance.
Note C -100% coinsurance.
Note D - 50th and Southdale liquor stores.
-73-
Village Council:
Mayor:
Arthur C. Bredeson
Trustees:
Frank J. Tupa
Wm. Dickson
John A. Kohler
R. N. Beim
Clerk- treasurer:
Gretchen S. Alden (appointed)
Assessor:
Donald Kearns (appointed)
Municipal Court:
Donald S. Burris, Judge
Bruce B. James., Special Judge
Village Manager:
Warren C. Hyde
Village Attorney:
Maynard B. Hasselquist
Prosecuting Attorney:
Walter Gustafson
Engineer:
Joseph Zikan
Finance,Director:
J. N. Dalen
ORGANIZATION
VILLAGE OF ED INA
December 31,.1959
1962
1962
Appointed by council
1959
Elected,
Term
Re- elected or
Expires
Reappointed to
December 31,
December 31,
1959
1961
1960
1959
1962
1960
1961
1959
1960
1959
1960
1962
1962
Appointed by council
1959
1960
1959
1960
1959
1960
1959
1960
-74-