HomeMy WebLinkAbout1960 Financial Statements-- 00000 --
AUDITED FINANCIAL STATEMENTS
AND OTHER FINANCIAL INFORMATION
VILLAGE OF EDINA, MINNESOTA
December'31, 1960
-- 00000 --
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INDEX
ACCOUNTANTS' REPORT ON AUDITED FINANCIAL STATEMENTS ...... :..PAGE 3
COMMENTS AND ACCOUNTANTS' REPORT ON OTHER
FINANCIALINFORMATION ............... 6...................... 4
FUNDBALANCE SHEETS... , ......... o ........... a................ 8
GENERAL FUND:
BALANCE SHEET.... ................. ............ 10
STATEMENT OF SURPLUS ....................................... 11
ANALYSIS OF CHANGE IN CASH BALANCE ........................ 12
REVENUE............... ..... :............................:. 13
EXPENDITURES ............... ............................... 14
CENTRALSERVICES ........... ............................... 17
FIXED ASSETS... ..........
................ o.o ........ 18
POOR FUNDS
BALANCESHEET... ; ..... 0 ....................... oo .... 19
STATEMENT OF SURPLUS — UNAPPROPRIATED ..................... 20
STATEMENTS OF REVENUES AND EXPENDITURES ................... 20
ANALYSIS OF CHANGE IN CASH BALANCE ........................ 21
PARK FUNDS
BALANCESHEET.............: . ............................... 22.
STATEMENT OF UNAPPROPRIATED SURPLUS .........:............. 23
ANALYSIS OF SURPLUS INVESTED IN FIXED ASSETS. .............. 23
ANALYSIS OF CHANGE IN CASH BALANCE ........................ 24
REVENUEAND EXPENDITURES ... ............................... 25
FIXEDASSETS ................ 0........................0.... 26
SWIMMING POOL FUND:
BALANCE SHEET.. .............: ............................... 27
STATEMENT' OF SURPLUS ....... ............................... 28
ANALYSIS OF CHANGE IN CASH BALANCE........................ 29
STATEMENTOF INCOME AND EXPENSE........ 0 .................. 30
STATEMENT OF INCOME AND EXPENSE (CONCESSIONS ONLY) ........ 31
FIXED ASSETS ............... ............................... 32
PARK SINKING FUND:
BALANCE SHEET .........::.. 33
STATEMENTOF SURPLUS ... ... ............................... 34
ANALYSIS OF CHANGE IN -CASH BALANCE ............... .......... 35
BDND.AND INTEREST MATURITIES,- DEFERRED TAX. LEVIES,
AND RESERVE FOR UNCOLLECTIBLE TAXES ..... %..I .............. 36
PARK CONSTRUCTION FUND:
BALANCESHEET,,., ................ 37
ANALYSIS OF RESERVE FOR CONSTRUCTION ...................... 38
ANALYSIS OF CHANGE IN CASH BALANCE ...................... ... 39
FIXEDASSETS ............... ...:...............g........... 40
INDEX (font °d)
IMPROVEMENT FUNDS:
COMBINEDBALANCE SHEET.,........... .....................PAGE 41
STATEMENT OF SURPLUS — UNAPPROPRIATED ... ................... 42
ANALYSIS OF CHANGE IN CASH BALANCE ........................ 43
BONDS PAYABLE .............. ............................... 45
WATERWORKS FUND:
BALANCE SHEET .............. ............................... 46
NOTES TO BALANCE SHEET . ............................... .... 47
STATEMENT OF SURPLUS ....... ............................... 48
STATEMENTS OF INCOME AND EXPENSE .......................... 49
ANALYSIS OF CHANGE IN CASH BALANCE ........................ 51
FIXED ASSETS .................. ......_........................ 52
SEWER RENTAL FUND:
BALANCE SHEET....... ...................... 53
STATEMENT OF SURPLUS ....... ............................... 54
STATEMENTS OF INCOME AND EXPENSE .......................... 55
ANALYSIS OF CHANGE IN CASH BALANCE ........................ 56
FIXED ASSETS ............... ............................... 57
LIQUOR DISPENSARY FUND:
BALANCE SHEET.............................................. 58
STATEMENTOF SURPLUS ..................... ............... 59
COMPARATIVE STATEMENT OF INCOME AND EXPENSE ............... 60
COMPARATIVE OPERATING EXPENSES ................................. 61
ANALYSIS OF CHANGE IN CASH BALANCE .............................. 62
FIXED ASSETS .................. ............................... 63
GENERAL:
CASH — ALL FUNDS:.......... 64
SECURITY FOR DEPOSITS,00,,,,,,,,,,,,,,, , 65
INVESTMENTS ................ ............................... 66
TAXABLE VALUATIONS, TAX LEVIES AND RATES .................. 67
MUNICIPALCOURT.FINES ................. .................. 68
OFFICIAL BONDS.... o..o.00 ........ ............... ...... 69
INSURANCE COVERAGE., .............. oo..o .................... 70
ORGANIZATION......... ...... ........ .... ......... 71
•��o•
ACCOUNTANTS - AUDITORS
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, 1960 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 stand-
ards, and accordingly included such tests of the accounting records and such
other procedures as we considered necessary in the circumstances.
In our opinion, the accompanying balance sheets and statements of revenues and
expenditures, income and expense and surplus present fairly the financial posi-
tion of the Village of Edina at December 31, 1960'and its various special funds
and the results of their operations for the year then ended, in conformity with
generally accepted accounting principles applied on a basis consistent with that
of the preceding year.
Minneapolis, Minnesota
May 19, 1961
130
ERNST & ERNST
FIRST NATIONAL BANK BLDG.
MINNEAPOLIS 2, MINN.
ACCOUNTANTS - AUDITORS
MANAGEMENT SERVICES
OFFICES IN PRINCIPAL CITIES
ASSOCIATES IN FOREIGN COUNTRIES
COMMENTS AND ACCOUNTANTS' REPORT ON OTHER FINANCIAL INFORMATION
Village of Edina
Edina, Minnesota
The audited financial statements of the various funds of the Village consisting of
balance sheets and statements of revenues and expenditures or income and expense, and
surplus and our report thereon are presented in appropriate sections of this report.
Financial information not specifically referred to above and financial information
contained in the following comments is not considered necessary for a fair presentation
of the financial position and results of operations, and is submitted for analytical
purposes only. The 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 state-
ments. 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:
Cash on deposit at December 31, 1960 was reconciled to balances reported directly to us
by the various depositories. Cash on hand at December 31, 1960 for subsequent deposit
was also verified to us by the depositories receiving the cash after December 31, 1960.
Cash working funds were counted by us.
Cash receipts and cash disbursements procedures were reviewed and tested by us for select-
ed 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.
Village of Edina securities held for investment by the several funds of the Village were
inspected by us, and related interest income computations were tested.
Amounts receivable from water and sewer rental charges at December 31, 1960 were tested
by direct correspondence and by review of the records for subsequent collections.
Differences reported were not material and were explained to our satisfaction.
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.
-4-
Interfund transfers and charges and interfund balances were reviewed by us.
We were present at the municipal liquor stores at the time physical inventories were
taken. We observed inventory.procedures used by Village employees and tested quantities
by independent count of items selected by us. Inventory valuations were tested by refer-
ence 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 depreciation charged to
operating funds of the Village were reviewed by us.
We tested accounts payable by direct correspondence and by reference to disbursements
subsequent to December 31, 1960.
Canceled bonds and interest coupons redeemed and paid during 1960 were inspected by us.
r,
Official minutes of the Village Council for 1960 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 Police Department.
COMMENTS ON FINANCIAL STATEMENTS
GENERAL FUND
Reference is made to detail schedules elsewhere in this report as to operations of this
fund. Such details appear on pages 10 to 18.
POOR 'FUND
Reference is made to detail schedules elsewhere in this report as to operations of this
fund. Such details appear on pages 19 to 21.
PARK FUND
Reference is made to detail schedules elsewhere in this report as to operations of this
fund. Such details appear on.pages 22 to 26.
SWIMMING POOL FUND
Detail schedules outlining fi .
of this report. Attention is
related concession operation.
on bonded debt issued for the
depreciation on swimming pool
uncial operations of this fund are shown on pages 27 to 32
directed to the net-loss of $8,018.47 from swimming pool and
Such loss is after the provision of $7,878.00 for .interest
swimming pool facilities, and the provision of $7,216.07.for
facilities.
PARK SINKING FUND
Reference is made to detail schedules appearing on pages 33 to 36 as to-operations of this
fund.
PARK CONSTRUCTION FUND
Reference is made to detail schedules elsewhere in this report as to operations of this
fund. Such details appear on pages 37 to 40. Fixed assets for park purposes amounting
to $85,883.02 were purchased during the year. Of this amount $80,000.00 was provided by
a transfer of earnings of the Village's two liquor stores.
—5—
IMPROVEMENT FUNDS
Reference is made to detail schedules elsewhere is this report as to operations of these
funds and the related Construction Fund. Such details appear on pages 41 to 45 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 permanent and
temporary bonds sold for construction or improvement purposes by the various improvement
funds. Redemption of these bonds is provided for by levies of special assessments on
properties benefited from the construction or improvements. To facilitate 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.
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 had not been done and on-which final disposition is pending. These
balances may be used for refunding cancelled assessments.
During the year $500,000.00 of Temporary Improvement Bonds of 1959 were redeemed, the
redemption being made from funds made available from the sale of $1,800,000.00 of
Improvement Bonds of 1960 1st Series. This action terminated the Temporary Improvement
Bond fund.
WATERWORKS FUND
Reference is made to detail schedules elsewhere in this report as to operations of this
fund. Such details appear on pages 46 to 52.
Net income of the fund for the year amounted to $1,674.91; a decrease of $35,462.79.- The
principal reasons for this decrease in net income may be summarized as follows:
Increase in depreciation charges included in
operating expenses $11,116063
Increase in repair of pumping facilities 4,783.26
Increased cost of material and supplies 5,268.09
Increase in other operating expenses 8,288043
INCREASE IN EXPENSES $29,456.41
Add decrease in income from sales of water,
water meters and other services and income
on investments 6,006.38
DECREASE IN NET INCOME $35,462.79
SEWER RENTAL FUND
Reference is made to detailed schedules elsewhere in this report as to operations of this
fund. Such details appear on pages 53 to 57.
M
LIQUOR DISPENSARY FUND
Reference is made to detailed schedules elsewhere in this report as to operations of
this fund. Such details appear on pages 58 to 63.
Net income of the fund amounted to $207,083.19 for the year. Of this amount $155,000.00
was transferred to other funds of the Village by action of the Village Council.
SECURITY FOR DEPOSITS
Reference is made to schedule on page 65 of this report showing details of deposits of
the Village and securities pledged as collateral thereof at December 31, 1960. . Security
for deposits at the-Midland National Bank and Fidelity Bank and Trust Company were inade-
quate with respect to compliance with the provisions of M. 'S. A. Section 118.01 which
prohibit the.Treasurer from maintaining a deposit .in excess of ninety percent of the
market value of the collateral pledged exclusive of amounts covered by federal deposit
insurance.
Fidelity
Midland Bank and
National Bank Trust'Companv
Balance on,deposit $527,906.06 '$1,050,000.00
Security for deposit:
Collateral of 90% of market $443,621.03 $ 952,771.50
Federal Deposit Insurance 10.000.00 10.000.00
$453,621.03 $ 962,771.50
MUNICIPAL COURT
Included in court cash are various adjustments dating to 1957 which as yet have not been
properly recorded by the court. To correct the court cash records the following adjust-
ments 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 representing miscel-
laneous 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.
PUBLICATION OF FINANCIAL STATEMENTS
A detailed financial statement was not prepared and published or posted as required by
M S. A. Section 412.281.
Minneapolis, Minnesota
May 19, 1961
—7—
FUND BALANCE SHEETS
VILLAGE OF EDINA
December 31, 1960
ASSETS
Cash:
Current funds
Appropriated
Amounts segregated and shown below
Investments:
Village of Edina Bonds - at face
value or cost
Receivables:
Taxes and special assessments:
Current
Delinquent
Deferred
Customers
Due from other funds
Miscellaneous receivables
Less allowance for
delinquent taxes
Inventories
Prepaid expenses
Segregated cash 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
$ 251,538.94 $ 109351.04 $11,927.35 $ 38,044.39 $ 6,671.90 $ 123,143.04 $17,222.60 $ 44,178.62
1,332,711.46 _ _ � 29,646.68 $ 24,113.20 $ 1,2.59,263.70 19,687.88
$ 19584,250.40 $ 10,351.04 $11,927.35 $ 38,044.39 $ 6,671.90 $ 29,646.68 $ 24,113.20 $ 1,259,263.70 142,830.92 $17,222.60 $ 44,178.62
C 48,567.75) _ 48,567.75)
1,535,682.65 10,351.04 $11,927.35 38,044.39 6,671.90 29,646.68 $ 24,113.20 1,259,263.70 94,263.17 $17,222.60 /+4,178.62
639,866.81
• E =
96,000.00
$ 1,171,127.86 $ 34,277.07
266,589.94 $ 17,642.34 300.27 _1,477.00
6,412,139.38 1,035,000.00
50,954.84
351,630.73 183,504.57 $ 750.00 12,250.50
_ 7,682.77 7,572.10 25.00 __ _
$ 8,260,125.52 $ 208,719.01 325.27 0 1,477.00 $ 750.00 $1,081,527.57 $ -
507,546.51
27,320.30
1:,136, 583.39 $ 267.40
247,170.33
5,3.77_,139.38
36,734.•44 14,220.40
147,569.75 7055.91
L 85.67
$ 6,908,462.85 $ 44,290.35 $14,487.80 $ 85.67
_ 644,215.74 17,64 300.27 1,477.00 47,632.07 5771, 64.06 _
7,615,909.78 $ 1919076.67 $. 25.00 $ - $ 750..00 $1,033,895.50 $ $ 6,331,298.79 $ 44,290.35 $1494817.80 $ 85.67
247,260.92 109000.00 109520.09 226,740.83
24,991.34 23,831.77 278.35 881.22
48,567.75
1,904,638.15
59492,653.98 1,156,973.84 271,948.05 195,715.33-
82,093.95 — — — —
$17,591,665.33 $1,368,401.55 $20,952.35 $309,992.44 $203,137.23
I
617,606.34
$1,063,542.18 $737,719.54
.48,567.75
1,904,638.15
3,135,715.82
82,0.93.95
$10,108,672.87 $3,333,635.53
18,461.41 96,233.19
$50,171,81 $395,439.83
10
LIABILITIES, RESERVES
AND SURPLUS
Due to other funds
Accounts payable
Salaries and wages
Cancelled assessments refundable
Due to Hennepin County
Interest payable
Construction 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.
FUND BALANCE SHEETS (Cont'd)
F u n d s
Swimming Park Park Sewer Liquor
Total. General Poor Park Pool Sinking Construction Improvement Waterworks Rental Dispensary
351.,630.73
88,577.53
9,157.32
1,842.11
11,110.10
71.,716-58
291;390.72
13,646.76
322,219.35
,10,975.08
14,169.77
340,560.00
9,7299000.00
:52,927.27
133,120.17
53,755.25
14,476.07 $ 2,632.24
3,516.46
2,798.90
13,646.76
750.00 $ 12,250.50
1,837.79 293.69
2,425.42
14,169.77
$ 340,560.00
690,000.00
14,264.00
105,849.20
4,960,653.98 1,156,973.84 271,948.05 195,715.33 617,606.34
40o.00 400.00
68,255.63
10,709.75 10,709.75
1,109;602.48 112,124.52 18,320.11 18,861.41 5,122.29# _ 32,982.18
$17,591,665.33 $1,368,401.55 $20,952.35 $309,992.44 $203,137.23, $1,063,542.18 $737,719.54
283;572.98
1,302.00
3;605.18
14,055.33 $23,349.49 14,063..74
627.20 492.49 2,095.75
1,842.11
66;466:08
5,250..50
.2889591.82
322,219.35
10,975.08-
8, 507°;000.00
532, 000.00
=52,927.27
27.;270.97
2,603,715.82 18,461.41 96,233.19
68,255.63
533,.091.93 108,429.05 _7,868-42 283,047.15
$10,108;672.87 $3,333,635.53 $50,17.1.81 $3959439.83
GENERAL FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1960
ASSETS
Cash:
Demand deposits
Time deposits
Working funds
Receivables:
Due from other funds:
Construction Fund
Sanitary Sewer No. 53
Waterworks Fund
Accounts receivable
Supply inventory - estimated
Advance to Construction Fund
Taxes receivable - delinquent
Less allowance for delinquent taxes
Fixed assets
1,951.04
8,000.00 9,951.04
_ 04 0.00 $ 10,351.04
82,175.92
26.65
1,302.00 $ 83,504.57
7,572.10 91,076.67
10,000.00
100,000.00
$ 17,642.34
17,642.34 -
1,,156,973.84
$1,368,401.55
LIABILITIES AND SURPLUS
Due to other funds:
Construction Fund
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
$1,086,901.18
70,072.66
$ 46,199.34
7,555.91 $ 53,755.25
$ 14,476.07
3,516.46
13,646.76
2,798.90 34,438.19
1,156,973.84
10,709,75
400.00
1,168,083.59
112;124-52
24.52
$1,368,401.55
-10-
GENERAL FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year Ended December 31, 1960
Total
APPROPRIATED
Balance at January 1, 1960 $1,093,943:07
Additions (deductions):
Transfers from unappropriated surplus:
For fixed assets - net 84,331.89
Fixed assets retired ( - 9,401.12)
For commitments ( 790.25)
Balance at December 31, 1960 $1,168,083:59
UNAPPROPRIATED
Balance at January 1, 1960
Deductions:
Expenditures - see separate schedule
Less revenue - see separate schedule
Less transfer from surplus
General Fund share of construction costs
Village share of cost of traffic signals -
Highway 100
Invested in
For Imprest
For
Fixed Assets
Contributed
Cash
Commitments
$1,012,768.86
$ 69,274.21
$ 400.00
$ 11,500..00
83,533.44
798.45
( 9,401.12)
( 790.25)
$1,086,901.18
$ 70,072.66
$ 400..00
$ 10,709.75
$180,975.06
$975,684.11
$1,009,134.91
51,3900 957,739.91
$ 17,944.20
46,199.34
4,707.-00 68, 850.
Balance at December 31, 1960 $112,124.52
-11-
GENERAL FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1960
Balance at January 1, 1960
Additions:
Receipts - per separate schedule
Collections of amounts due others:
Waterworks Fund
Edina Firemen's Relief Association
Other
Collection made on accruals at December
31, 1959
Collection of advance to Construction Fund
Other
Deductions:
Disbursements - per separate schedule
Charges to accounts receivable and other funds
Payment on accrua.ls'at December 31, 1959:
Trade accounts
Accrued payroll
Edina Firemen's Relief Association
Due to other funds
Village share of cost of traffic signals
1
l
$879,104.70
$ 7,555.91
13,646.76
— 11.85. 21,214.52
54,583.74
23,381-43
50,000.00
20.50 _ 973,721.15
(1,028,304.89
$959,338.72
12,526.57
$20,138.21
3,526.09
11,163.53
6,938.96 41,766.79
Highway 100 4,707.00
Other _ 14.77 1,018,353.85
Balance at December 31, 1960 $ 9,951.04
Summary:
Demand deposits
Time deposits
$1,951.04
8,000.00
TOTAL $99951.04
-12-
GENERAL FUND
REVENUE
VILLAGE OF EDINA
Year Ended December 31, 1960
Actual
Revenue
Over- Under*
Estimated
Estimated
Receipts
Accruals
Revenue
Revenue
Revenue
Real and personal property
taxes
$582,500.83
582,500.83
$5871521.00
$ 5,020.17#
Other taxes
20,475.40
20,475.40
11,000.00
9,475.40
Bicycle licenses
494 :00
494.00
250.00
244.00
Beer and liquor licenses
1,692.50
1,692.50
1,325.00
367.50
Cigarette licenses
704.00
704.00
696.00
8.00
Dog and impounding fees
4,755.50
4,755.50
3,500.00
1,255.50
Food and soft drinks
942.00
942.00
900.00
42.00
Gas pump licenses
695.00
695.00
630.00
65.00
Bowling, taxi, pinball, etc.
2,655.00
2,655.00
1,695.00
960.00
Plumbing licenses
2,750.00
2,750.00
2,250.00
500.00
Scavenger and garbage collec-
tors
352.00
352.00
265.00
87.00
Building permits
16,909.00
16,909.00
18,000.00
1,091.00#
Cesspool and sewer permits
4,311.00
4,311.00
2,500,00.
1,811.00
Plumbing permits
8,489.61
8,489.61
5,000.00
3,489.61
Sign permits
3,686.58
3,686.58
3,000.00
686.58
Street opening fees
800.00 *$ 1,302.00
502.00
300.00
202.00
Electrical permits
6,000.00
6,000..00#
Engineering, clerical, searches
68,371.01
72,950..74
141,321.75
130,000.00
11,321.75
Police and fire service
5,000.00
5,000.00
5,000.00
-
Equipment rental
9,194.66
9,194.66
5,000.00
4,194.66
Municipal court fines
46,741.00
46,741.00
55,000..00
8,259.00#
Income on investments
166.96
166.96
166_.96
Board and room of prisoners
117.60
117.60
700.00
582.40#
State apportionments - highway
27,602.00
27,602400
30,000.00
2,398.00#
State apportionments - liquor _
and cigarettes
24,956.04
24,956.04
21,000.00
3,956.04
Contributions from active funds
32,5,50.00
32,,550.00
32,550.00
-
Charges to other funds
7,500.00
71500.00
7,500.00
-
Sale of fixed assets
150.00
150.00
100.00
50.00
Discount earned
1,108:80
5.97
1,114.77
1,114.77
Planning fees
1,018.00
1,018.00
1,018.00
Other revenue
4,016.21
376.50
4,392.71
2,010.00
2,38.2.71
Transfers - Reserve-for
encumbrances
4,000.00
4,000.00
4,000.00
-
Transfers - Surplus -
unappropriated
51,395.00
51,395.00
51,395.00
-
TOTAL
$879,104.70
$136,030.21
$1',009,134.91,$989,087-00 .
$20,04.7-91.
# Indicates red figure'.
-13-
GENERAL FUND'
EXPENDITURES
VILLAGE OF EDINA
Year Ended December 31, 1960
-14-
Encum-
Appro-
Unexpended
Disbursements
brances
Expenditures
priations
Balance_
GENERAL GOVERNMENT
Mayor and Council
$
8,955.88
$ 8,955.88
$ 9,019.00
$
63.12
Planning
10,650.97
$ 515.57
11,166.54
11,389.00
222,46
Administration:
Personal services
$
34,944.06
$ 34,944.06
$ 35,040.00
$
9594
Contractual services
4,106.94
$ 40.08
4,147.02
4,228.00
80.98
Commodities
93.43
14.54
107.97
125.00
17.03
Fixed charges
7,272.00
7,272.00
7,272.00
-
TOTAL ADMINISTRATION
$
46,416.43
_
$ 54.62
$ 46,471.05
$ 46,665.00
$
193.95
.Finance:
Personal services
$
25,275.49
$ 25,275.49
$ 25,370.00
$
94.51 -
Contractual services
2,980.55
2,980.55
3,008.00
27.45
Commodities
23.54
23.54
50.00
26..4.6
Fixed charges
4,368.00
-
TOTAL FINANCE
$
32,647.58
$ -
_x4,368.00
$ 32,647.58
_4,368.00
$ 32,796.00
$
148 -42
Municipal court:
Personal services
$
15,926.45
$ 33.00
$ 15,959.45
$ 15,994.00
$
34.55
Contractual services
2,091.57
132.00
2,223.57
2,850.00
626.43
Commodities
497.13
497.13
600.00
102.87
Fixed charges
3,876.00
3,876.00
3,876.00
-
TOTAL MUNICIPAL COURT
f-22,391.15
_
165.00
22,556.15
6 23,320.00
S 763.85
Elections
7,504.49
7,504.49
79600.00
95:51.
Assessing:
Personal services
$
28,447.12
$ 28,447.12
$ 28,450.00
$
2.88
Contractual services
2,566.98
$ 51.92
2,618.90
2,626.00
7.10
Commodities
206.81
16.20
223.01
250.00
26.99
Fixed charges
3,684.00
_
_3,684.00
3,684.00
-
TOTAL ASSESSING
$
34,904.91
$ 68..12
$ 34,973.03
$ 35,010.00
$
36.97
Legal services
15,594.80
5,647.30
21,242.10
22,385.00
1,142.90
Library
2,58 0.40
_ 126.99
_2,707.39
_ 2,773.00
_ 65_61
TOTAL GENERAL
GOVERNMENT
$181,646.61,
$ 6,577.60
$188,224.21
$190,957.00
$
2,732.79
ENGINEERING
Personal services
$
72,524.91
$ 72,524.91
$ 72,940.00
$
415.09
Contractual services
30.75
30.75
421.00
390.25
Commodities
1,840.14
$ 63.92
1,904.06
2,820.00
915.94
Fixed charges
11,376.00
11,376.00
11,376.00
-
TOTAL ENGINEERING
$
85,771.80
$ 63.92
$ 85,835.72
$ 87,557400
$
_
1,721.28
PUBLIC WORKS
Administration and Overhead:
Personal services:
Supervision and clerical
$
29,010.51
$ 29,010.51
$ 29,024.00
$
13.49
Training
813.11
813.11
820.00
6.89
Paid leave
11,736.E
876.36
12,612.60
12,600
__
TOTAL ADMINISTRATION
AND OVERHEAD
$
41,559.8,6
$ 876.36
$ 42,436.22
$ 42,458.00
$
21.78
-14-
GENERAL FUND
EXPENDITURES (Contad)
-15-
Encum-
Appro-
Unexpended
Disbursements
brances
Expenditures
priations
Balance
PUBLIC WORKS (Cont'd)
Street maintenance:'
General
$ 62,047.02
$
1,469.49
63,516.51
$ 63,521.00
4.49
Patching
48,338.38
400.19
48,738.57
48,780.00
41.43
Street cleaning
10,624.31
10,624.31
10,648.00
23.69
Sealing
18,374.88
39.00
18,413.88
18,415.00
1.12
Curb repair
. 600.00
600.00
600.00
-
Snow and ice removal
14,208.66
655.68
14,864.34
14,870._00
5.66
TOTAL STREET
MAINTENANCE
$154,193.25
$
2,564.36
$156,757.61
$156,834.00
$
76.39
Street lighting
36,565.96
.49
36,586.45
36,590.00
3.55
Street name signs:
General
$ 4,724.10
$
86.98
$ 4,811.08
$ 4,814.00
$
2.92
New sign installation
373.67
2.00
14 5.67
24 0.00
4.33
TOTAL STREET NAME SIGNS
$ 5,097.77
128.98
$ 5,226.75
$ 5,234.00
$
7.25
Traffic control:
Sign maintenance
$ 4,446.04
$
7.25
$ 4,453.29
$ 4,454.00
.71
Signal maintenance
3;111.27
199.32
3,310.59
4,006.00
695.41
Pavement marking
2,279.16
2,279.16
2,280.00
:84
Guard rail maintenance
1,604.99
93.09
1.698.08
1,700.00
1.92
TOTAL TRAFFIC CONTROL
11,441.46
$
299.66
11,741.12
$ 12,440.00
$698.88
Bridges:
General maintenance
$ 487.06
$
2.50
$ 489.56
$ 496.00
$
6.44
Repair program
410-90
410-90
_ 419.00
8.10
TOTAL BRIDGES
$ 897.96
$
2.50
$ 900.46
$ 915.00
$
14.54
Storm drainage:
Storm sewers
$ 12,564.49
$
19.52
$ 12,584.01
$ 12,590..00
$
5.99
Temporary
5,173.81
5,173.81
5,180.00
6.19
Pumping
5,305.80
35, 05.80
x:310.00
4.20.
TOTAL STORM DRAINAGE
3,044.10
$
19.52
_
$ 23,063.62
$ 23,080.00
$
16.38
Village properties:
Turf care
$ 6,345.62
$
39.04
$ 6,384.66
$ 6,390.00
$
5.34
Plantings
280.75
280.75
300.00
.19.25
Tree trimming
1,860.49
199.28
2,059.77
2,065.00
5.23
Tree spraying
614.36
614.36
625.00
_
10.§4
TOTAL VILLAGE
PROPERTIES
$ 9,101.22
$
238'.32
$ 9,339.54
$ 99380.00
$
40.46
Noxious weed control
985-
985.48
_ 1,000.00
14. 2
TOTAL PUBLIC WORKS
$282,907.06
$
4,130.19
$287,037.25
$287,931.00
F--893.75
PROTECTION OF PERSONS AND
PROPER T Y
Police_ Protection:
Personal services
$136,907.71
$136,907.71
$1379084,00
$
176.29
Contractual services
3,125.61
$
111.10
3,236.71
3,274.00
37.29
Commodities
2,273.56
229.75
2,503.33
2,597.00
93.67
Fixed charges
24,86L..00
_
24,864.00
24,864.00
-
TOTAL POLICE
PROTECTION
$167,170.90
$
340.85
$167,511.75
$167,819.00
$
307.25
-15-
PROTECTION OF PERSONS AND
PROPERTY (Cont 1d)
Fire protection:
Personal services
Contractual services
Commodities
Fixed charges
TOTAL FIRE PROTECTION
Civilian defense
Public health
Animal control
Inspection
TOTAL PROTECTION OF
PERSONS AND PROPERTY
.NON- DEPARTMENTAL
Contingencies
Settlement of suits.
Special assessments on
village property
TOTAL NON- DEPARTMENTAL
CENTRAL SERVICES
See separate schedule
attached
TOTAL OPEP,ATING
EXPENSES
CAPITAL OUTLAY
Administration
Municipal court
Elections
Engineering
Public works
Police
Fire
Civilian defense
Inspection
Contingencies
Special assessments on
Village property
Unallocated capital outlay
TOTAL CAPITAL OUTLAY
RESERVE FOR COMMITMENTS
Planning
Police
Fire
TOTAL RESERVE
FOR COMMITMENTS
TOTAL EXPENDITURES
x Indicates red figure.
GENERAL FUND
EXPENDITURES (Cont'd)
Encum- Appro- Unexpended
Disbursements brances Expenditures priat.ions Balance
$ 67,792.15 $ 67,792.15 $ „67,898.00 $ 105.85
1,563.56 $ 41.47 1,605.03 1,630.00 24.97
1,061.00 46.33. 1,107.33 1,108.00 .67
1o,416.00 1o,416.0o lo_,�16.00 -
80,832.71 $ 87.80 80,920.51 81,052.00 $ 131.49
874.05 18.75 892.80 1,405.00 512.20
3,171.16 31.22 3,202.38 3,350.00 147.62
3,286.50 308.90 3,595.40 3,750.00 154.60
18, 74 1.14 _ _ _18,471v14 _18,775.00 _ 303.86
$273,806.46 $ 787.52 $274,593.98 $276,151.00 $ 1,557.02
$ 3,524.21 $ 107.29 $ 3,631.50 $ 4,500.00 $ 868.50
1,112.55 100.00 1,212.55 1,225.00 12.45.
26 7, 74.53 7 6
_ 26.x# 26 , 47,88 2,760..00 12.12
$ 31,411.29 $ 180.64 $ 31,591.93 F 32,485000 F 893.07
25,128,69 916.83 26,042 27,850. -00 .1,804.48
$880,671.91 $12,656.70 $893,328.61 $902,931.00 $ 9,602.39
$ 973.80
$ 973.80
$ 1,035.00
$ 61.20
276.85
276.85
295.00
18.15
39,778,50 $
71.40#
39,707.10
40,015.00
307.90
450.00
450.00
905.00
455.00
23,688.58
634.57'"
23,054.01
25,005. -00
1,950.99
5,533.15
986.56
6,519.71
6,670.00
150.29
4,323 ®73
198.35
4,522.08
4,825.00
302.92
7.22
7.22
100.00
92.78
1,391.00
1,391.00
1,500.00
109.00
747.52
747.52
800000
52.48
300.15 300.15
1,196.31 _ _1,196.31
$ 78,666.81 $ 478.94 $ 799145.75
�9�9_ 338_72
$ 3,000.00
73.30
13
$ 3,209.72
t16 345_39
$ 3,000.00
73.30
136.45
$ 3,209.75
$27� 68/x.11
315.00
1,391.00
$ 82,856.00
$ 3,000.00
100.00
200.00
L 3,300.00
t2g9 87.00
14.85
194.69
$ 3,710.25
26.70
63.55
$ 90.25
1131/402. g9
-16-
General:
Contractual services
Commod i t i e's
Village Hall:
Persan'al services
Contractual services
Commodities
Fixed charges
Garage
Equipment operati7on:
Personal services
Contractual service's
Commodities
Fixed charge's
Gasoline and fuel oil
Tires and tubes
Lubricants
Parts and accessories
Less allocation to other
departments and funds
TOTAL
* Indicates red figure.
GENERAL FUND
CENTRAL SERVICES
VILLAGE OF EDINA
Year Ended December 31, 1960
Encum-
Disbursements brances
$ 69,953.37 643.35
5,710.75 127.51
75,664.12 770.86
$ 5,441.01 25.40
5,974.91 681.00
897.38 1.28
480.00
12,793:.30 $ 707.68
4,744.66 439.47
Appro-
Expenditures priations
$ 70- ,596:.72 $ 70,690.00
5,838.26 5,900.00
$ 76,434.98 6 76,590000
5,466.41 $ 5,545.00
6,655.91 7,125.00
898.66 1,610.00
480.00 480.00
13, 500.98 $ 14, 760'. 00
5,184.13 5,024.00
Unexpended
Balance
$ 93.28
61.74
$ 155.02
$ 78.59
469.09
711.34
$1,259.02
160:.13#
19,047.55
, $ 564.97
$ 19,612.52
$ 19,625.00
$ 12.48
12,627.18
469.83
13,097.01
13,578.00
480.99
4,379.86
114.38
.4,494.24
4,500.00
5.76
3,060.00
3,060.00
3,060.00
-
16,030.14
2,966.56#
13,063.58
13,075.00
11.42
4,615.62
119.92
4,735.54
4,750.00
14.46
2,504.85
.294.15
2,799.00
2,800.00
1.00
16,733.41
402.13
17.135.54
17,160.00
24.46
78,998.61
$1,001.18*
77,9 97.E
78,548.00
0.57
$172,200.69
$ 916.83
$173,117.52
V174,922.00
$1,804.48
147,072.00 147,072.00 147,072.00 -
$ 25,128.69 $ 916.83 $ 26,045.52 $ 27,850 -.00 $1,8C4.48
-17-
GENERAL FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December 31, 1960
-18-
Balance
Balance
January
December
1, 1960
Additions Deductions
31, 1960 -
Land
128,805.66
$ 128,805.66
Land improvements
91,979.30
$ 300.15
92,279.45
Buildings
360,655.75
541.52
361,197.27
Furniture and fixtures
41,969.52
1,969.40
43,938.92
Equipment:.
Highway
225,456.39
.23,599.89
249,056.28
Police
25,463.78
10,394.65 $9;401.12
26,457.31
Fire
70,228.21
4,522.08
74,750.29
Election
40,310.83
39,707.10
80,017.93
Engineering
18,397.18
450.00
18,847.18
Traffic signals
52,197.80
1,448.88
53,646.68
Executive
1,834.15
1,834.15
Miscellaneous
24,744.50
1,398.22 _
26,142.72
TOTAL $1,082,043.07
$84,331.89 $9,401.12
$1,156,973.84
-18-
POOR FUND
BALANCE'SHEET
VILLAGE OF EDINA
December 31,1960
ASSETS
Cash:
Demand deposits
Time 'deposits
Investments:
Village of Edina- 2.7% Improvement Bonds of
1958 at face value
Village of Edina - 2.5% Waterworks Revenue
Bonds of 1955 at face value
Receivables:
Relief grant — State of Minnesota
Delinquent taxes
Less allowance for delinquent taxes
LIABILITIES AND SURPLUS
Accounts payable
Surplus - unappropriated
$ 927.35
11.,000.00
$11,927.35
$5,000.00
4,000.,00 9,000.00
$ 25.00
$300.27
300.27 - 25.00
$20,9.52-35
$ 2,632.24
1$,320°11
$20,952.35
-1�
Balance at January 1, 1960
Deductions:
Net loss for year
POOR FUND
STATEMENT OF SURPLUS - UNAPPROPRIATED
VILLAGE OF EDINA
Year Ended December 31, .1960
Balance at December 31, 1960
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 County Relief Board:
Relief orders
Administration
Rural Hennepin County Nursing Committee
Professional services
Polio Clinic costs
Other
NET (LOSS) - INCOME
1960 1959
$7,823°99 $ 7,904,08
73054 133.40
316.85 968.56
— 1,878.05
10000
$8,214,38 $10,894,09
$3,041,52 $ 3,543°63
52892 293.61
4,579°68 4,579068
100000 100.00
- 1,648,64
62,00
18,250.12 $10,227056
($ 35.74) $ 666053
$18,355.85
35074
$18,32Qo11
Increase
$ 80,09*
59,86*
651,71*
1,878,05#
10,00*
$ 2,679.71*
$ 502,11*
235°31
1,648,64*
62.00#
$ 1,977044*
$ 702.0 27*
-- =-- - -'- --
-20-
POOR FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1960
Balance at January 1, 1960
Additions:
Tax settlements received:
March, 1960
June, 1960
November, 1960
Relief grants - State of Minnesota
Income on investments
Decrease in accounts receivable
.Increase in accounts payable
Deductions:
Payment to Suburban Hennepin County
Relief Boards
Relief orders
Administration
Rural Hennepin County Nursing Committee
Professional services
Summary:
Demand deposits
Time deposits
TOTAL
$ 9,372.40
$ 741.01
3,953.36
3,129.62 $7,823.99
73.54
316.85
29..39
2,561-30 lmd5.07
$20,177047
$3,041.52
528.9 $3,570:44
4,579.68
100,00 8,250.12
Balance at December 319 1960 $11,927.35
$ 927.35
11,000.00
$11,927.35
-21-
PARK FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1960
ASSETS
Cash:
On deposit 38,044.39
Receivables:
Taxes receivable - delinquent 1,477.00
Less allowance for delinquent taxes _ 1,477_00 -
Fixed assets 48.05
$309,992.44
LIABILITIES AND SURPLUS
Payables:
Trade.accounts
Salaries and wages
Due to other funds
Unexper,1 --i contributions for specific purposes:
Landscraping buffer strip west of library
Cascade pumping
Dwight Williams Memorial-Park
Wooddale Park —improvements and
recreation program
Cornelia Lake Park - improvement
Edina Swim Club
Park District No. 2
Park District No. 3
Park District No. 4
Park District No. 5
Figure skating and skiing instructors'
salaries
Appropriated surplus:
Invested fixed assets
Contributed:
Property and special assessments paid
by General Fund
Property donated by others,
Surplus - unappropriated
207.53
723.97
58.95
575.00
150.00
112.32
6,185.00
1,300.00
3,400.00
500,00
957.00
$111,311.01
10,338.66
$ 1,837.79
2,425.42
750.00
14,169.77 $ 19,182.98
$150,298.38
.1
121,649.67
271,948.05
.18,861.41
$309,992.44
X22-
PARK FUND
STATEMENT OF UNAPPROPRIATED SURPLUS
VILLAGE OF EDINA
Year Ended December.31, 1960
Balance at January 1, 1960
Additions:
Revenues for year (see separate schedule
for details)
Deductions:
Expenditures for year (see separate schedule
for details)
Balance at December 31, 1960
ANALYSIS OF SURPLUS INVESTED IN FIXED ASSETS
Balance at January 1, 1960
Additions for the year:
Special assessments paid by
General Fund
Donations:
From Junior Baseball. League
From unappropriated surplus
Balance at December 31, 1960
Contributed
$ 13,462.29
105 618.87
$119,081.16
100,219. -75
$ 18,861.41
By General
Fund Direct
by Payment Investment
of Special in Fixed
Combined Assessments By Others Assets.
$230,390.15 $ 84,536.48 $ 9,988.66 $135,865.01
26,774.53 26,774.53
350.00 350.00
14,433,37 _ 14,433.37
$271,948.05 $111,311.01 $10,338.66 $150,298.38
-23-
PARK FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1960
Balance at January 1, 1960
Additions:
Revenue for year (see separate schedule
for details)
Registration fees - figure skating and skiing
Dedicated funds:
Edina Swim Club
Spring Company
R. W.'Carlson
Granz. E. Hill Company
Haverly Construction Company
Sale of investments
Deductions:
Expenditures for year (see separate schedule
for details)
Add decrease in accruals:
Balance at January 1, 1960:
Trade accounts
Salaries and wages
Due to other funds
Balance at December 31; 1960:
Trade accounts
Salaries and wages
Due to other funds
Purchase of investments
Decrease in reserve for improvements
Payments from dedicated funds:
Figure skating and skiing
Normandale Park
$1,266,40
1,186.61
3,682.51
$1,837.79
2,425.42
750.00
$ 112.32
2,650.00
400.00
150.00
250.00
$6,135.52
5,013.21.
$105,618.87
825.00
3,562..32
25,000.00
$100,219.75
1,122.31
25,000.00
247.00
$ 30,252.76
135, 006.19
$165,258.95
$ 567.00
58.50 625.50 127,214-56
Balance at December 31, 1960 $ 38,044.39
-24-
PARK FUND
REVENUE AND EXPENDITURES
VILLAGE OF EDINA
Year Ended December 31, 1960
REVENUE
Real and personal property tax
Registration fees
Transfer from active funds
Contribution from other sources
Income on investments
Discounts
Other revenue
EXPENDITURES
Administration:
Personal services
Contractual services
Commodities
Central services
Capital outlay
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
Building and equipment
Skating rinks
TOTAL ADMINISTRATION
TOTAL RECREATION
TOTAL MAINTENANCE
TOTAL
Actual
Unexpended
Disbursements
Encumbrances
Revenue
Appropriations
Balance
$ 16,125.32
Over- Under*
16,125.32
$
Estimated
Estimated
Receipts
_Accruals_
_Revenue
Revenue
Revenue
$ 50,643.5,0.
24.50
$ 50,643.50
$ 519-0,00.00
$ 356.50#
12,155.59
12,155.59
12;000.00
155.59
42,450.00
42,450.00
42;450.00
-
-
14,136.93
296.44
300.00
300.00#
_.. 64.23
109205.00
64.23
181.19
64.23
33.48
$ 17.28
50.76.
- 300.00
50.76
-14.44
240.35
254.79
100.00
1.54.79
TOTAL $105,361.24
$ 257.63
$105,618.87
$105,850.00
$ 231.13#
TOTAL ADMINISTRATION
TOTAL RECREATION
TOTAL MAINTENANCE
TOTAL
$ 95,195.82 $5,_023.93 $100,219.75 $1059_850.00 $5,630.25
-25-
Unexpended
Disbursements
Encumbrances
Expenditures
Appropriations
Balance
$ 16,125.32
16,125.32
$
16,145.00
19.68
11175.41
.09
1,175.50
1,'200.00
24.50
624.03
624.03
625.00
.97
6,240..00
6,240.00
6,240.00
-
14,136.93
296.44
14,433.37
109205.00
4,228.37#
181.19
181.19
- 300.00
118.81
3,148.47
135-12
3,283.59
2,485.00
798.59#
$ 41,631.35
431.65
$
42,063.00
$
37,200.00
$4,863.00#
$ 3,130.85
$
3,130.85
$
3,675.00
$ 544.15
2,254.37
$1,386.39
3,640.76,
5,640.00
1,999.24
846.10
846.10
850.00
3.90
8,889.04
53.23
8,942.27
9,250.00
307.73
9,557.13
750.00
10,307.13
10,400.00
92.87
1,x•24
_
1,496.24
2;10o.00
603..76
$ 26,173.73
$2,189.62
$
28,363.35
$
31,915.00
$3,551.65
$ 4,579.02
$
4,579.02
$
5,200.00
$ 620.98
49878.71
$ 572.09
5,450.80
6,300.00
849.20
1,789:24
66.50
1,855.74
3,280.00
1,424.26
1,380.22
1,380.22
2;760.00
19379.78
449.75
449.75
2,900.00
2,450.25
4,881.73
595.68
5,477.41
5,560.00
82.59
9,432.07
1,168.39
10,600.46
10,735.00
134.54
27 390.74
$2,402.66
$
29,793.40
L36.,735.00
$6,941_60
$ 95,195.82 $5,_023.93 $100,219.75 $1059_850.00 $5,630.25
-25-
La nd
Skating rinks
Lend improvements
Building
Park equipment.
Furniture and fixtures
Trucks and automobile
Miscellaneous
Construction in progress:
52nd and Arden
50th and Wooddale
East Mirror Lakes
57th and Chowen
PARK FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December 31, 1960
Bala nce
Balance
January
December
1, 1960
Additions
31, 1960
$ 90,8o6.64
$ 90,806.64
3,484.31
1,197.72
4,682.03
101,656..93
26,774.53
128,431.46
1,842'.41
1,575.65
3,418.06
15,313.55
8,540.10
23,853.65
493.79
494.50
988.29
9,812.33
2,742.28
12,554.61
77.00
233.12
710.12
223,886.96
-T41,557.90
$265,444.86
131.26
131.26
2,324.85
2,324.85
3,785.72
3,785.72
261.36
261.36
TOTAL $230,390.15 $41,557.90 $271,948.05
-26-
SWIMMING POOL FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1960
ASSETS
Cash:
On deposit
Due from other funds:
Park Fund
Fixed assets - at cost:
Land
Swimming pool and bathhouse
Filter system
Furniture and equipment
Less allowance for depreciation
LIABILITIES AND SURPLUS
Payables:
Trade accounts
Due to Park Sinking Fund
Surplus invested in fixed assets:
Acquired by bonds
Acquired from surplus.
Donated
Unappropriated surplus':(deficit)
$ 6,671.90
750,00-
10,000.00
183,621.89
17,000.00
3,637.01
214,258.90
18,543.57 195,715.33
$203,137.23
$ 293.69 -
12,250.50 $ 12,544.19
$191,526.18
4,139.15
50.00 $195,715033
( 5,122.29)
$190,593.04
$203,137.23
-27-.
SWIMMING POOL FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year Ended December 31, 1960
*Indicates red figure.
-28-
Invested in
Fixed Assets
Unappro-
From
From
Total
priated
Donated
Surplus
Bond Funds
Balance at January 1, 19'60
$202,984.01
782.37.
$50.00
$3,448.90
$198,702.74
Transfers and deductions:
Net loss for year
$ 8,018.47#
$
8,018.47#
Less interest provided for
at December 31, 1959 in-
cluded in operations
7,878.00
7,878.00
140.47#
$
140.47#
$ - _
$ -
$ -
Fixed assets purchased
—
1,070.00#
1,070,00
Provision for depreciation
—
7,556.31
3-79-75*
7,176.56#
Allocated to Sinking
Fund for bond retirement
12,250.50#
12,250.50*
Balance at December 31, 1960
$190,593.04
$
5,122.29#
$50.00
$4,139.15
$191,526.18
*Indicates red figure.
-28-
SWIMMING POOL FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1960
Balance at January 1, 1960
Additions:
Pool fees
Concession income (See separate schedule) $1,952.76
Add depreciation included therein 340.24
Payment received on accruals at December 31, 1959
Other revenue
Deductions:
Operating expenses (See separate schedule)
Less accounts payable at December 31, 1960
Payment made on accruals at December 31, 1959
Purchase of fixed assets
$37,811.34
2,293000
9,826.95
38,06
$33,476.56
293.69
$33,182.87
12,342.08
1,070.00
$ 3,297.50
69°35
53,266.85
46,594.95
Balance at December 31, 1960 $ 6,671.90
-29-
Revenue:
Pool fees:
Season tickets
General admissions
Rental - instruction program
Other
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
Painting pool
General maintenance
Central services
Insurance
Unclassified
Provision for depreciation
Debt service
SWIMMING POOL FUND
STATEMENT OF INCOME AND EXPENSE
VILLAGE OF EDINA
Year Ended December 31, 1960
$26,744.00
11,067.34
GROSS REVENUE
$3,103.59
9,191.57
577.52
2,412.67
877.00
2,989.71
$19,552.06
1,004.95
1,615.13
307.88
80.11
2,008.89
540,70
931.84
241.95
4,215.00
985.55
540.00
1,416.44.
36.06
INCOME BEFORE PROVISION FOR DEPRECIATION
AND DEBT SERVICE CHARGES
LOSS BEFORE DEBT SERVICE CHARGES
NET LOSS FROM OPERATION OF SWIMMING POOL
Income from concessions - see separate schedule
NET LOSS FROM OPERATIONS
$37,811.34
750.00
38.06
$38,599.40
33,476.56
$ 5,122.84
7,216,07
$ 2,093.23
7,878.00
$ 9,971.23
1,952.76
$ 8,018.47
- 30-
SWIMMING POOL FUND
STATEMENT OF INCOME AND EXPENSE (CONCESSIONS ONLY)
VILLAGE OF EDINA
Year Ended December 31, 1960
Operating expenses:
Salaries and wages:
Manager $1,129.83
Clerks 19481.62 $2,611.45
General supplies 23.29
Laundry 54.21
Machine rental 40.00
Provision for depreciation 340.24
General maintenance 71.58 3,140.77
NET INCOME $1,952.76
-31-
Gross Profit
Cost of
Per Cent
Sales
Sales
Amount
to Sales
Soft Drinks
$1,296.k
$ 903..90
r 392.40
30.27%
Soft Ice Cream
4`,030.00
1,544.28
2,485.72
61.68'
Pop corn
2,050.11
405°70
1,644.41
80.21
Beefburgers
546.00
423.58
122.42
2242
Hot dogs
630.75
408.66
222.09
35.21
Other sandwiches
58.50
42.09
16.41
28.05
Cupcakes
560.40
354:92
205.48
36.67
Coffee
45.00
40.40
4.60
10.22
$9,217.06
$4,123.53
$5,093.53
55.27%
Operating expenses:
Salaries and wages:
Manager $1,129.83
Clerks 19481.62 $2,611.45
General supplies 23.29
Laundry 54.21
Machine rental 40.00
Provision for depreciation 340.24
General maintenance 71.58 3,140.77
NET INCOME $1,952.76
-31-
SWIMMING POOL FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December 31, 1960
ASSETS
Land
Swimming pool and bathhouse
Filter system
Furniture and equipment
ALLOWANCE FOR DEPRECIATION
Swimming pool and bathhouse
Filter system
Furniture and equipment
Balanc'e
Balance
January
December
1, 1960 Additions
31, 1960
$ 10,000.00
$ 10.,000.00
182,551.89 $1,070.00
183,621.89
17,000.00
179000.00
3,637.01
3.637.01
$213,188.90 $1,070.00 $214,258.90
$ 8,179.15 $5,492.61 $ 13,671.76
2,550.00 1,700.00 4,250.00
258.11 _ 363.70 621.81
10,987-26 $7;556.31 18,543.57
NET BALANCE $202,201.64 _ $1959715.33.
-32-
PARK SINKING FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1960
ASSETS
Cash:
Demand deposits
Time deposits
Receivables:
Due from Swimming Pool Fund
Taxes receivable - current and delinquent
Taxes receivable - deferred
646.68
29,000.00 $ 29,646.68
$ 12,250.50
$ 34,277.07
1,035,000.00
$1,069,277.07
Less:
Allowance for uncollectible taxes $45,275.00
Allowance for delinquent taxes 2,357.07 47,632.07 1,021,645.00 1,033,895.50
$1,063,542.18
LIABILITIES, RESERVE AND SURPLUS
Amount payable during 1961:
Interest
Bonds
Bonds payable
Less current portion - shown above
Reserve for future interest
Less current portion - shown above
Surplus - unappropriated
$ 690,000.00
15,000.00
$ 340,560.00
25,835,00
$ 25,835.00
15,000.00
$ 40,835.00
675,000.00
314,725.00
32,982.18
$1,063,542.18
-33-
PARK SINKING FUND
STATEMENT OF SURPLUS
,VILLAGE OF EDINA
Year Ended December 31, 1960
Balance at January 1, 1960
$24,168.18
Additions:
Income on investments
$ 227.42
Transfers:
Allowance for delinquent taxes-
$ 88.35
Reserve for future interest
26,260.00
Reserve for unc6llectible taxes
7,165.00
Less portion allocated to
Swimming Pool Fund
2,149.50 5,015.50
31,363.85
31 591.27
55,759.45
Deductions:
Payment to fiscal agent:
Interest
$22,708.00
Service charge
69.27
22,777.27
Balance at December
31, 1960
$32,982.18
-34-
PARK SINKING FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1960
Balance at January 1,, 1960
Additions:
Tax settlements received from county:
March , 1960
June ,. 1960
November, 1960
Sale of investments
Income on investments
Payment received on amounts due from
other funds at December 31, 1959
Deductions:
Payment of amount due to other funds
at December 31, 1959
Purchase of investments
Payment to fiscal agent:
Principal
Interest
Service charge.
Summary:
Demand deposits
Time deposits
TOTAL
$ 3,134.62
16,319.27
12,904.46
$32,358.35
25,000.00
227.42
10,878.00
$ 6,319.44
25,000.00
$10,000.00
22,708.00
69.27 32,777.27
Balance at December 31, 1960
$ 646.68
29,000.00
$29,646.68
$25,279.62
68,463.77
$93,743.39
64,096.71
$29,646.68
-35-
PARK SINKING FUND
BOND AND INTEREST MATURITIES, DEFERRED TAX LEVIES, AND RESERVE FOR UNCOLLECTIBLE TAXES
VILLAGE OF EDINA
December 31, 1960
Annual maturity and
interest date
March 1, and
September 1
Interest rates
3.4 %, 3.7%
and 3.9 %.
Allowance for
Uncollectible
Deferred
Year
Bonds
Interest
Taxes
Levies
1962
15,000.00
25,325.00
8,675.00
$ 49,000.00
1963
15000.00
24,815.00
10,185.00
50,000.00
1964
15,000.00
24,305.00
11,695.00
51,000.00
1965
15,000.00
23,772.50
13,227.50
52,000.00
1966
.15,000.00
23,217.50
14,782.50
53,000.00
1967 `
30,000.00
22,385.00
1,615.00
54,000.00
1968
30;000.00
21,275.00
3,725.00
55,000.00
1969
30,000.00
20,165.00
5,835.00
56,000.00
1970
30,000.00
19,055.00
7,945-00:
1971
30;000.00
17,945.00
10,055:00
58,000.00
1972
40;000.00
16,650.00
2,350 -.00
59,000.00
1973
40;000.00
15,170.00
4,830.00
60,000.00
1974
4a,o00.00
13,650.00
7,350.00
61,000.00
1975
40,000.00
12,090.00
9,910.00
62,000.00
1976
40,000.00
10,530.0,0
12,470.00
63,000.00
1977
50,000.00
8,775.00
5,225.00
64,000.00
1978
50,000.00
6,825.00
8,175.00
65,000.00
1979
50,000.00
4,875.00
11,125.00
66,000.00
1980
50,060.00
2,925.00
52,925.00*
1981
50,000.00
975.00
.50,975.00'f
$675,000.00
$314,725.00
$45,275.00
$1,035,000.00
* Indicates red figure.
.-36-
PARK CONSTRUCTION FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1960
ASSETS
Cash:
On deposit
Investments:
Edina Park System Bonds - at face value
Fixed assets - at cost:
Land
Construction in progress
Equipment
LIABILTIES AND SURPLUS
Trade accounts payable
Surplus invested in fixed assets
Reserve for construction
$ 24,113.20
96,000.00
$365,041.01
251,445.36
1,119.97 617,606.34
$737,719.54
$ 14,264.00
617,606.34
105,849.20
$737,719.54
-37-
PARK CONSTRUCTION FUND
ANALYSIS OF RESERVE FOR CONSTRUCTION
VILLAGE OF EDINA
Year Ended December 31, 1960
Balance at January 1, 1960
Additions:
Transfer from Liquor Dispensary Fund
Sale of excess fill - Cornelia School site
Sale of lots - Lake Cornelia Park Addition
Sale of highway right -of -way
Deductions:
Purchase of fixed assets
$ 87,744.52
$80,000.00
4,497.60
4,490.10
15,000.00 103 87.70
191,732.22
85,883.02
Balance at December 31, 1960 $105,849.20
-38-
PARK CONSTRUCTION.FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1960
Balance at January 1, 1960
Additions:
Transfer from Liquor Dispensary Fund
Sale of property:
Excess fill - Cornelia School site
Two lots - Lake Cornelia Park Addition
Part of Hays Farm - Hennepin County
for highway right -of -way
Increase in liabilities:
Balance at December 31, 1960:
Accounts payable
Balance at January 1,'1960:
Accounts payable
Due-to other funds
Deductions:
Purchase of fixed assets
* Indicates red figure.
$ 4,497.60
4,490.10
15,000.00
$14,264.00
$4,615.25
$80,000.00
23.987070
$ 1,616.72#
2,023.51. 6,638.76_ 7,625.24. 111,612.94
$109,996.22
85,883002
Balance at December 31,1960 $ 24,113.20
- 39=
Land:
Highway 169 and Hanson Road
Hays Faun 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
Lake Edina Second 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
Hays Farm property
Cornelia School site -
69th and McGuire
Other park areas
Unallocated
Equipment
PARK CONSTRUCTION FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December 31,1960
$ 15,007.09
199,475.35
12,639.48
49,086.99°'
1,190.00 1--
10,921.05,--
26,650.00✓
1,250.00
18,3o0.00--
30,205.00
316.05✓ $365,041.01
18,621.06
5,508.67
41,009.38
84,604.34
16,417.28
25,679.21
3,685,34
24,273.33
6,781.03
6,531.93
1,854.44
1,573.53
1,077.79
3,043,77
10,784.26 251,445,36
1,119.97
Balance at December 31, 1960 $617,606.34
-40-
Total
Elimination
ASSETS
Cash:
Demand deposits
46,736.30#
Time deposits
1,306,000.00
1,259,263.70
—
Investments
507,546.51
Receivables:
Special assessments:
Current - certified in 1960 - collectible in 1961
1,121,555.86
Delinquent
246,306.44
Deferred
5,230,321.81
Taxes and assessments receivable - Village share
of projects:
Current
15,027.53
Delinquent
863.89
Deferred
146,817.57
$
6,760,893.10
-
Less allowance for delinquent taxes
577.164.06
$
6,183,729.04
$ -
Due from other funds
147,569.75
Due from Construction Fund for advances
-
$1,071,985.61
Prepaid interest
23,831.77
Construction in progress:
Current
1,582,418.80
Deferred
322,219.35
Unallocated construction costs
82,093.95
$10,108,672.87
$1,071,985.61
LIABILITIES, RESERVES AND SURPLUS
Accounts payable
$
3,605.18
Accrued interest
66,466.08
Canceled assessments refundable
1,842.11
Due to Hennepin County
11,110.10
Due to other funds
183,572.98
Construction contract payable
322,219.35
Advance from Improvement Fund
-
$1,071,985.61
Loan from General Fund
100,000.00
Payable to City of Minneapolis for Villagt share
of sewage disposal plant
10,975.08
Bonds payable
8,507,000.00
Construction deposits
288,591.82
Reserve for assessment adjustments
52,927.27
Reserve for construction
27,270,97
Surplus - unappropriated
533,091.93
$10,108,672.87
------- - - - - --
$1,071,985.61
------- - - - - --
# Indicates red figure.
--------------
------- - - - - --
IMPROVEMENT FUNDS
COMBINED BALANCE SHEET
VILLAGE OF EDINA
Dec-ember 31, 1960
Joint
Permanent
1950 Improvement
$ 57,237.56
Sewer
Improvement
First
Second
Construction No. 1
Revolving
Series
Series
$ 72,220.86# $ 596.17
$ 875.27
$ 290.60
$ 139.45
12,000.00
12.000.00
42,000.00
62.000.00
$ 72,220.86# $12,596.17
$12,875.27
$42,290.60
$62,139-45
60,870.88
1,582,418.80
322,219.35
$1,893,288.17
$ 83,220.42
322-,219-35
1,071,985.61
100,000.00
288,591.82
27 ,270.97
$1,893,288.17
1951 Improvement
First Second
Series Series
$ . 513.71 $ 976.70
22.000.00 151,000.00
$22,513.71 $151,976.70
1952 1953
Improvement Improvement
First First
Series Series
$ 160.54 $ 20.87
56.000.00 79.000.00
$ 56,160.54 $ 79,020.87
10,000.00
Sanitary.
Sewer Southdale
No. 53 Improvement
1954 Improvement
First Second
Series Series
Improvement
Bond
Redemption
$ 181.66 $ 153.36 951.66 91.71 $ 20,532.86
180,000.00 87,000.00 45,000.00 69.000.00 489.000.00
$180,181.66 $ 87, 153-36 $45,951.66 $ 69,091.71 $ 509,532 .86
10,000.00 5,000.00 482,546.51
$25,464.85
$ 7,615.56 $ 1,986.85
$ 7,895.74
$ 57,237.56
$ 12,005.57
$ 27,565.69
$ 43,002.61
$ 26,399.08
$13,944.97
$ 51,126.73
$ 847,310.65
$ 615.73 2,702.23
'3,149.61
2,275.45
12,484.18
1,439.56
5,962.52
10,542.97
3,210.17
840.79
15,801.75
187,281.48
12,938.19
627.06 2,042.84
6,022:38
61,466.,40
20,879:.66
62,188.23
312,746.28
50,428.11
32,824.00
149,493.54
4,518,665.12
$ 615.73
615.73
$12,596.17
$10,975.08
'1,621.09
$12,596.17
$41,105.27
4,622.38
$36,482.89
$11,392.23 $ 4,029.69
3,561.74 201.48
$.7,830-49 $ 3,828.21
1,888.83
$49,358.16 $50,121.09 $67,856.49
$ 1,440.00
$ 152.67 176.00
$ 213.41
93,30 88.90- 65.50
14,671.54
22,000.00 33,000.00
1,025.78#
35,405.69 27.879.52 33.174.99
$49,358.16 $50,121:09 $67,856.49
$16,193.57 $131,188.14
2.971.36 18.419.38
$13,222.21 $112,768.76
$35,735.92 $264,745.46
5,427.53
115,000.00
580,000.00 .195,000.00
75,000.00
240,000.00
9,600.00
1,755.39#
7,789.37
786.10
1,024.32
12,198.13
77.79
5,010.42
31.323.60
69,098.54
15.077.68
38.980.91
72,708.61
$ 44,762.74
$ 95,716.44
$436,176.50
$ 80,037.36
$47,609.76 $216,422.02
$5,635,643.65
3,626.57
10,450.22
36,858.18
7,051.53
- 3,179.24 25,832.76
459,773.49
$ 41,136.17
$ 85,266.22
$399,318.32
$ 72,,985.83
$44,430.52 $190,589.26
$5,175,870.16
1,252.12
42,193.23
40,320.19
1,044.50
44,061.48
1,027,924.13
23,831.77
$108,548.83 .$164,287.09 $631,693.21 $200,459.38 $95,382.18
82,093,95
$303,742.45 $7,302,843088
$ 2,165.18
$ 171.00 $ 390.42 $ 925.00 $ 1,111.67 $ 1,950.00 $ 600.00 $ 1,713.34 59,275.98
12.27 112.56 64.33 1,439.54
71.55 211.40 85.05 124.30 $ 2,106.80 83.00 71.25 401.70 7,707.35
15,992.36 1,942.86 8,938.15 26.65 3,608.93 10,448.37 44,723.70
22,000.00 190,000.00
877.66 #• 143.73#
14.358.76 58.182.45
$35,735.92 $264,745.46
90,000.00
115,000.00
580,000.00 .195,000.00
75,000.00
240,000.00
6,945,000.00
1,755.39#
7,789.37
915.92
1,024.32
12,198.13
34,802.09
17,286.98
31.323.60
49.559.76 2.5.10.46
15.077.68
38.980.91
207.730.04
$108,548.83
$164,287.09
$631,693.21 $200,459.38
$95,382.18
$303,742.45
$7,302,843.88
-41-
Balance at January 1, 1960
Additions:
Interest spread on assessments for collection
in 1961
Accrued interest on sale of bonds
Income on investments
Capitalized interest
Over — collection on special assessments and taxes
Other
Deductions:
Interest on bonds
Bank service charges
.Cost of bond sale
Cancelation and adjustments
Transfers from Temporary Improvement Fund
Transfers — add (deduct):
Allowance for delinquent taxes
Balance at December'31, 1960
* Indicates red figure.
Joint
Sewer
Total No. 1
$481,,499.40 $1,130.34
$314,298.77
6,433.32
22-,927.84 $ 402.11
20,428.95
231.30
1.178.22
$365,498.40 $ 402.11
$246,802.69
1,387.85
2,786.64
281.20
$251,258.38 $ —
$595,739.42 $1,532.45
( 62.647.49) 88.64
$533,091.93 $1,621.09
-42-
IMPROVEMENT
FUNDS
STATEMENT OF SURPLUS
- UNAPPROPRIATED
VILLAGE OF
EDINA
Year Ended December
31, 1960
1952
1953
Permanent
1950 Improvement
1951 Improvement
Improvement
Improvement.
Sanitary
1954 Improvement
Improvement
Improvement
First
Second
First
Second
First
First
Sewer
Southdale
First
Second
Bond
Temporary
Revolving
Series
Series
Series
Series
Series
Serie.s
No. 53
Improvement
Series
Series
Redemption
Improvement
$31,140.67
$25,552.52
$31,223.48
$13,411.05
452,872.30
.$15,780.01
$26,878.88
$45,864.68,
$3,446.48
$12,747.47
$30,828.18
$191,191.31
$567.97#
$ 1,779.28
$ 392.51
$ 191.91
$: 661.81
$ 5,652.58
$ 1,565.60
$ 4,273.71
$.16,940.42
$3,659.04
$ 2,227.08
$ 9,529.31
$267,425.52
6,433.32
1,386.05
1,900.72
499.09
3,439.65
.1,220.31
1,828.42
4,021.54
1,883.22
1,430.77
1,017.40
4,007.67
$109.11#
20,428.95
231.30
.1,178.22
$ - 2,957.50
$ 1,778.56
$ 2,323.93
$ 1,160.90
$ 99092.23
$ 2,785..91
$ 6,102.13
$20,961.96
$5,542.26
$ 3,657.85
$10,546.71
$298,295.46
$109.11#
4
$ 503.67
$ 568.00
$ 557.33
$ 6,027.92
$ 2,391.67
$ 3,576.67-
$18,327.50
$5,967.50
$ 1,760.00
$ 5,314.17
$201,808.26
27.50
24.75
22.50
94.20
31.44
72.65
45.80
53.69
29.95
84.80
900.57
2,786.64
$ 25.93
255.27
677.08
S677.08*
$ 25.93
$ 786.44
$ 592.75
$ 579.83
$ 6,122.12
$ 2.423. -11
$ 3,649.32
$18.373.36
$6,021.19
$ 1,789.95
$ 5.398.97
$206,172.55
$677.08 #
$34,072.24
$26,544.64
$32,954.66
$13,992.12
$55,842.41
$16,142.81
$29,331.69
$48,453.34
$2,967.55
$14,615.37
$35,975.92
$283,314.22
$ -
1,333.45
1,334.88
220.33
366.64
2,340.04
1,144.17
1,991.91
1.106.42
( 457.09)
462.31
3.004.99
( 75,584.18),
$35,405.69
$27,879.52
$33,174.99
$14,358.76
,458,182.45
$17,286.98
$31,323.60
$49,559.76
$2,510.46
$15,077.68
$38,980.91
$207,730.04
$ -
-42-
Balance at January 1, 1960
Additions:
Remittance from County Auditor:
On special assessments
On taxes receivable
Collections by Village on special. assessments
Proceeds from sale of bonds:
Principal
Accrued interest and premium
Sale of investments
Collection from other funds accrued at December 31, 1959
Advance from Improvement Funds
Payment received on connection charges
Increase in construction deposits
Miscellaneous
Deductions:
Construction costs charged
to other funds:
General Fund
Permanent Improvement
Revolving,Fund
Improvement Fund
Increase in construction
in progress:
Balance at December 31,
1960:
Current construction $1,582,418.80
Deferred construction 322.219.35 $1,904,638.15
$ 46,199.34
14,671.54
690.520.63
$ 751,391.51
Balance at January 1,
1960:
Current construction 493,032.55
Deferred construction 374,292.45
Unallocated costs 16.706.16 884.031.16 $1,020,606.99
Add decrease in contracts
payable:
Balance -at January 1, 1960 $ 374,292.45
Balance at December'31, 1960 322.219.35 52.073.10
$1,824,071.60
Combined
$ 126,342.70
$1,001,054.46
14,066.84
112,221.99
1,800,000.00
6,433.32
2,228,446.06
51,219.24
1,363,500.00
44,625.17
214,572.94
517.12
$6,836,65.7.14
Less amount due to other funds for construction
costs at December 31, 1960 83.220.42 1.740.851.18
(Balances Carried Forward) $5,222,148.66
IMPROVEMENT FUNDS
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1960
$.. 88.64 $18,,632.00 $ 9,296.74 $.4,829.68 $ 9,053.17 $ 60',590.22 $ 14,-145.34 $ 30,141.91 $ 43,698.27 $.26,365.16. .$14.;581.52 $ 59,045.26 $ 710,586.55
4,823.58
-1952
1953
1,371.58 163.16
940.98 1,829.93 1,153.23
2,467.58 3,272.43
793.54
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
14,;277.40 $ 298.13..$
5,322.41
$ 1,680.8-1
$ 449.96
707.92
$ ;375.80
.$ .- 3,824.39
_ 1,568.02
3,077.81 $ 21,011.99
11,193.09#
559.66
64,272.38 $10,109.11'
$.. 88.64 $18,,632.00 $ 9,296.74 $.4,829.68 $ 9,053.17 $ 60',590.22 $ 14,-145.34 $ 30,141.91 $ 43,698.27 $.26,365.16. .$14.;581.52 $ 59,045.26 $ 710,586.55
1.740.851.18
$ 444,981.89 $27,788.88 $26;504.21 $70, 526.76.$90,361.28 $41,201.16.$264,235.60 $118,445.67 $136,005.93 $242,857.71 $150,439.25 $80,927.64 $174,024.56 $3,3135557.15 $40,290.97
—43—
4,823.58
9,243.26
1,371.58 163.16
940.98 1,829.93 1,153.23
2,467.58 3,272.43
793.54
806.64
4,402.24 95,020.68
1,800,000.00
6;433.32
$ 545,518..22
27,402.11 59,386.0.5 ;:82,900.72
30,499.09 201,439.65 ..94,9220.31
101,828.42. 178,021.54
93,883.22
66,430.77
110,017.40 606,716.70 $30,181.86
47,964.51
177.66
3,077.07
1,363,500.00
1,153.74 2,180.92
278.82
14,761.01
8,207.68
301.80
17,741.20
214,572.94
24.48
26.65
465.99
$2,171;555.67
`$27,490.75 $21,181.80 $68,845.9:5:$89,911.32
$40,493.24 $263,859.80 $114,621:28
$134,437.91 $239,779.90
$129,427.26
$82,120.73
$173,464.90 $3,249,284.77 $30,181.86
1.740.851.18
$ 444,981.89 $27,788.88 $26;504.21 $70, 526.76.$90,361.28 $41,201.16.$264,235.60 $118,445.67 $136,005.93 $242,857.71 $150,439.25 $80,927.64 $174,024.56 $3,3135557.15 $40,290.97
—43—
Combined
(Balances Brought Forward) $5,222,148.66
Deductions ('cont'd):
Payment on accruals at December 31, 1959
$ 30,768.26
Investments purchased
1,061,000.00
Payment to County Auditor for bookkeeping charges
1,489.75
Transfer to Construction Fund
1,363,500.00
Bonds redeemed
1,190,000.00
Interest on bonds
212,774.66
Bank service- charges
1,387.85
Refunds on special. assessments
2,258.90
Cost of-bond sale
2,786.64
Costs charged directly to reserve for assessment adjustments
1,377.89
Paid to-City of Minneapolis — sewage disposal plant
2,192.71
Prepaid interest
20,452.65
Return of advance from General_Fund
509000.00
Payment on -- connection charges.
229895.65
Transferred to Improvement Bond Redemption Fund.
—
$3.962.884.96
Balance at December.31, 1960 $1,259,263.70
* Indicates red figure.
IMPROVEMENT FUNDS
ANALYSIS OF CHANGE IN CASH BALANCE (Cont'd)
1952
Joint Permanent 1950 Improvement 1951 Improvement Improvement
Sewer Improvement First Second First Second First
Construction No..1 Revolving Series:- Series. ' :-Series Series. Series
$ 444,981.89 $27,788.88 $26,504.21 $70,526.76 $90,361.28 $41,201.16 $264,2354.60 $118,445.67
$ 17,202.75 $13,565.51
.:450.,.000.00 x$139 000 :•00 $13,000.00
$12,000.00'
$ 1,000-004
'38 ma. oo
$ 39,000.00
37.50 82.65
14.45
21.95
102.55
19.75
149000.00
15,000,00
11,000.00
60,000.00•
20,000.00
595.00
648.00
643.00
6;150,00'
2475,00
27.50
24.75
22.50
94.20
31.44
25.93
$80,92,7.64
$174,024.56
66.89
$409290.97•'
2,192.71
50,000.00
531.01 534.63 7,845.26 758.94
$ 517,202.75 $15,192.71 $13,628.94 $28,236.16 $28.,221.83 .$18,687.45 112,258.90. $ 62,285.13
$ 72,220.86# $12,596.17 $12,875.27 $42,290.60 $62,139.45 $22,513.71 $151,976.70 $ 56,160.54
1953
Improvement
Sanitary
19,54 Improvement
Improvement
First
Sewer
Southdale
First
Second
Bond.
Temporary
Series
No. 53
Improvement
Series
Series
Redemption
Improvement
;$136,005.93
$242,857.71
$1509-439.25
$80,92,7.64
$174,024.56
$3,313,557.1.5
$409290.97•'
$',44,000.00
$ 27,000.00
$12,000.00
$ 42,000.00
$. 344,000.00.
$20,000.00
ti$ 28.30
278.95
29.70
,6�1., 25 .
78.70
734.00
1,343,50.0.00
20,000.00
50,000.00
30,000.00
20,000.00
55,000.00
915,000.00 .
4,060.00
18,327.,50
6,202.50
1,920.00
5,662,50
166,091.16
72.65.
45 -.80
53.69
29.95
84.80
900,57
23.80
270.07.
1,872..21
2,786.64
1,377.89
20,452.65
2,824-11
9644.78
1,836.78
7 , 600.14
290.97#
290.97
56,985.06
$ 62.676.05
$ 63,285.89
$34,97,5.98
$104.932.85
$2,804,024.29
$40,290.97
$ 79,020.87 $180,181.66 $ 87,153.36 $45,95:1.66 $ 69,091.71 $ 509,532.86 $
-44-
IMPROVEMENT FUNDS
BONDS PAYABLE
VILLAGE OF EDINA
December 31, 1960
-45
1952
1953
Improvement
Improvement
Improvement
50 Improvement Fund
1951 Improvement Fund
Fund
Fund
Sanitary
Southdale
1954 Improvement Fund
Bond
First
Second
First
Second
First
First
Sewer
Improvement
First
Second
Redemption
Year
Total
Series
Series
Series
Series
Series
Series
No. 53
Fund
Series
Series
Fund
Annual maturities and
March 1,
March 1,
March 1,
June 1,
March 1,
March 1,
January 1,
March 1,
March 1,
March 1,
March 1,
interest dates
. and
and
and
and
and
and
and
,arid
and
and
June 1,
September
September
September 1
December 1
September 1
September 1
July 1
September 1
September 1
September 1.
September 1,
and
December 1
Interest rates
1 7/10% and
2 6/10%
2 3110%
2 410% and
2 3/4%
2 9/10%
3 1/4 %and
1.710 %!
2 4/10%
1 3110% to
2% to
2. 3/10%
and 3%
2 9/10%
3 1 /10%
r,and,3%
2i3/10%
3 9/10%
1961
740,000.00„
$14,000.00
$15,000.00
$11,000.00
$ 65,000,00
$20,000.00
25,000.00
15,000.00
$15,000.00
55,000.00
505,000.00
1962
957,000.00.
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
700,000.00
1963
9309000.00"
65,000.00
25,000.00
25,000.00
45,000.00
15,000.00
15,000.00
40,000.00
700,000.00
1964
860,000.00,.;:;
25,000.00
20,000.00
45,000.00
15,000.00
15,000.00
40,000.00
700,000.00
1965
835,000.00.;
.,
20,000.00
45,000.00
15,000.00
15,000.00
40,000.00
700,000.00
.1966
780,000.00_
40,000.00
15,000.00
25,000.00
700,000.00
1967
765,000.00,
40,000.00
15,000 :00
710,000.00
1968
585,000.00
40,000:00
15,000 :00
530,000.00
1969
585,000.00
40,000.00
15 000:00
�
530,000.00
1970
360,000.00-
40,000.00
15,000 :00
305,000.00
1971
160,000.00
40,000.00
15,000:00
105,000.00
1972
1609000.00
409000.00
15,000.100
105,000.00
1973
160,000.00
40,000.00
15,000:00
105,000.00
1974
145,000.00
40,000.00
1059000.00
1975
145,000.00
40,000.00
105,000.00
1976
1059000.00
1977"
105,000.00
105,000-00
1978
65,000.00
65000.00
1979
65,000.00
65 ,000.00
•,
TOTAL
$8,507,000.00,.,$22,000.00
$33,000.00
$22,000.00
$190,000.00
—
$90,000.00
$115,000.00
$580,000.00
$195,000.00
$75,000.00
$240,000..00
-- ---- --
$6,945,000.00
- - - - --
-- - - - - --
---- - - - - --
- - - - --
-- - - - - --
- - --
-45
ASSETS
CURRENT ASSETS
Cash:
Demand deposits
Appropriated funds
Working fund
Time deposits (including accrued interest
of $827.27)
Less amounts segregated and shown below
Accounts receivable:
From customers
Due from General Fund
Inventories:
Meters - at cost
Supplies - estimated
Prepaid expenses:
Insurance
OTHER ASSETS
Segregated cash - for reserve for debt
retirement
FIXED ASSETS - Note A
Land
Land improvements
Building and equipment
Less allowance for depreciation
Construction in progress
$ 36,734,44'
7,555.91
$ 8,.770.09
1, 750..00
TOTAL CURRENT ASSETS
27,431.38
7,959.47
3,549,618.00
$3,585,008.85
480,204.36
$3,104,804.49
30,911.33
WATERWORKS
BALANCE
VILLAGE OF
December
$ 290 -.77
19,687.88
25.00
122,827.27
$ 142,830.92
48,567.75
$ . 94,263.17
44,290.35
10,520.09
278.35
149,351.96
48,567.75
3,135,715.82
$3,333.,635.53
FUND
SHEET
EDINA
31, 1960
LIABILITIES AND SURPLUS
CURRENT LIABILITIES
Accounts payable and accrued expenses:
Trade accounts
Salaries and wages
Interest
Due to General Fund
Current maturities of bonds payable
LONG -TERM DEBT
Bonds payable - Note B
Less current maturities - shown above
SURPLUS
Invested in fixed assets
Revaluation of fixed assets - Note A
Contributed by special assessment - Note A
Contributed by General Fund
Earned:
Appropriated
Unappropriated „
See notes to balance sheet.
$ 14,055.33
627.20
5,250..50 $ 19,933.03
1,302.00
33.,000.00
TOTAL CURRENT LIABILITIES $ 54,235.03
362,296.02
30,741.42
2,196,700.17
13,978.21
$ 68,255.63
108,429.05
532,000.00
33,000.00 499,000.00
$2,603,715.82
176,684.68 2,,780,400.50
$3,333,63.5.53
-46-
. WATERWORKS FUND
NOTES TO BALANCE SHEET
VILLAGE OF EDINA .
December 31; 1960
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 re,
demption 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 option of
the Village on said date and any interest date thereafter, at a price of par and
accrued interest, 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 bond-
holders.
-47-
1947 Issue
1953 Issue
1955.Issue
1959 Issue
Total
Annual maturities and
March 1, and
March 1, and
March 1, and
March 1, and
interest dates
September 1
September 1
September 1
September 1.
Interest rates
2.50% and
2.30 %,
2.80 %,
2.75%
2.75%
2.50% and
3.10 %,
2.60%
3.40% and
3.50%
Annual amount of
maturities
1961
$10;000.00
$ 5,000.00
$ 10,000.00
89000.00
33,000..00
1962
10,000.00
5,000..00
10,000.00
8,000..00
33,000,00
1963
109000.00
5,000.00
10.,000.00
8,000.00
33,000.00
1.964
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
38,000.00
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
35,000.00
1971
35,000.00
35,000.00
1972
35,000.00
359000.00
1973
35,000..00
35,000.00
1974
35,000,00
35,000.00
1975
_
40,000.00
T40,000O00
$70,000.00
$45;000._00
$150,000.00
$2679000.00
$532,OOQ..00
Bonds maturing after September 1, 1957 of the 1947 issue shall be subject to re,
demption 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 option of
the Village on said date and any interest date thereafter, at a price of par and
accrued interest, 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 bond-
holders.
-47-
WATERWORKS FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year Ended December 31, 1960
Total
Balance at January 1, 1960 $2,611.,209.80
Additions:
Net income for year 1,674.91
Watermains contributed by
special assessments 167,515.79
$.2,780,400.50
Transfers:
Provision for depreciation -
Adjustments for fixed assets
acquired from surplus -
Bonds retired -
Increase in appropriation of
funds for reserve for debt retirement -
Balance at December 31, 1960 $2,7809'400.50
# Indicates red figure.
Earned Surolus
Unappropriated
Appropriated
$108,381.29
$66,770..00
1,674.91
$110,056.20.
$66,770.00
82,678.72
51,820.24#
31,000.00#
1,485.63#
1,485.63
$108,429.05
$68,255:63
't
1
Invested Contributed
in Fixed by
Assets Assessments.
$313,849.07 $2,076,480.'22
E
313,849.07
34,373.29#
51,820..24
31,000..00
$362,296.02
167,515.7 9
$2,243,996.01
..47,295.84#
$2,196,700.17
Contributed
by
General Fund
$14,305.82
$14,305.82
327.61#
$13,978.21
Revaluation
$31,423.40
$31,423.40
681.98#
aP3u, /4.1.4./-
-48-
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
Repair
Insurance
Water purchased
Provision for depreciation
Repairs
Distribition:
Labor
Materials and supplies
Operation of meters:
Labor
Supplies and expenses
Provision for depreciation
Repairs
VILLAGE OF EDINA
Year Ended December 31' Increase
1960 1959 Decrease*
Per Cent to
Gross Income
1960 1959
5,576
5,047
529
5,047
4,722
325
$ 22,425.00
$ 21,835.45
$ 589.55
20;377.11
18,918.11
1,459.00
$ 2,047.89
$ 2,917.34
$ 869.45#
180,040.96
185,189.01
5,148.05#
j,599-07. ,
3 , 249.12
`349,95
1,910.00
2,605.00
695.00#
286.00
435.00
149.00#
58.00
90..00
32.00#
7,555.91
6,938.96
616.95
427.58
305.73
121.85
$195,925.41 $201,730.16 $ 5,804.75'` 100.0% 100.0%
$ 3,220.48
$ 3,000.04
$ 220.44
21,815.12
20,730.71
1,084.41
121.00
584.26
463.26#
1,841.94
1,359.51
482.43
817.90
1,009.86
191.96#
1,000.94
122.48
878.46
201.00
201.00
-
405.23
371.24
33.99
228.24
143.12
85.12
652.25
718.75
66.50#
11,684.32
11,667.23
17.09
4,783.04
_ -
4,783.04
$ 46,771.46
$ 39,908.20
$ 6,863.26 23.9% 19.8%
$ 11,207.70 $ 9,158.37 $ 2,049.33
5,165.06 2,361.13 2,803.93
4,679.32 5,393.00 713.68#
759.74 1,246.91 487.17#
51,962.34 `47,215.95 4,746.39
115.49. 1,243.72 1,128.23#
$ 73,889.65 $ 66,619.08 $ 7,270.57 37.7 33.0
-49-
WATERWORKS FUND
STATEMENTS OF INCOME AND EXPENSE (Cont'd)
-50-
Per Cent to
Year Ended
December 31
Increase
Gross Income
1960
Decrease*
1960 1959
Expenses (cont'd):
_
_1959
Tanks, towers and reservoir:
Labor
$
39.75
$
137.63
97.88*
Power and lease lines
378.08
314.17
63.91
Supplies
19.32
80.78
61.46*
Provision for depreciation
16,581.65
10,537.03
6,044.62
Insurance
366.36
290.13_
76.23
_
17,385.16
$
11,359.74
_
$ 6,025.42
8.9% 5.6%
Water treatment:
Labor
$
799.12
$
68.86
$ 730.26
Supplies
9,176.54
7,799.43
1,377.11
Provision for depreciation
870.67
806.25
64.42
$
10,846.33
$
8,674.54
2,171.79
5.5 4.3
Vehicle operation:
Allocated from equipment pool
$
2,520.00
$
2,510.00
10.00
Provision for depreciation
854.18
174.43
_11028.61
$
3,548.61
$
3,364:18
$ 184.43
1.8 1.7
Administrative and general:
Salaries:
Superintendent
$
6,300.00
$
6,000.00
$ 300.00
Clerical
3,953.04
2,635.36
1,317.68
Meter reading
5,048.63
4,921.74
126.89
Meter reading supplies
26.00
23.36
2.64
Office supplies, postage,
telephone
3,780.00
2,280.00
1,500.00
Supervision
2,700.00
2,700.00
-
Provision for depreciation
551.13
481.45
69.68
Professional services
3,547.07
1,000.00
2,547.07
Miscellaneous
375.61
479.97
104.36*
Building rental
180.00
156.00
24.00
26 61./.
20,677.88
$ 5,783.60
13.5 10.2
TOTAL OPERATING EXPENSES
$178,902.69
$150,603.62
$28,2 99.07
91.3 74.6%
OPERATING INCOME
$
17,022.72
$
51,126.54
$34,103.82*
8.7% 25.4%
Other income:
Income on investments
3,230.28
3,431.91
201.63*
1.6 1.7
$
20,253.00
$
54,558.45
$34,305.45*
10.3% 27.1%
Other deductions:
Interest on bonds
$
18,497.92
$
16.385.75
$ 2,112.17
Fiscal agent's service charge
80.17
60.87
19.30
Cost of bond sale
-
913
974.13*
_ _
18,578,09
$ 17,420.75
$ 1,157.34
9.5 8.6_
NET INCOME
$
-----
1,674.91
- - - - --
$
-----
37,137.70
- - - - --
$35,462.79#
--- - - - - --
.8% 18.5%
- --
Depreciation charges to
operations included in expenses
$
82,678.72
$
71,562.09
$11,116.63
-50-
WATERWORKS FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1960
Balance at January 1, 1960
Additions:
Collections on accounts receivable
Sale of investments
Collection on amount due from other funds
Income on investments
Sale of water meters
Sundry sales and services
Decrease in prepaid insurance
Deductions:
Investments purchased
Meters purchased
Additions to fixed assets
Less:
Carrying value of disposals
Contributed by special assessments
Payment to fiscal agents:
Principal
Interest
Service charges
Decrease in amounts payable:
Balance at January 1, 1960:
Trade accounts
Accrued payroll
Due to other funds
Balance at December 31, 1960:
Trade accounts
Accrued payroll
Due to other funds
Refunds on accounts receivable
Operating expenses
Less provision for depreciation
Summary:
Operating Fund.
Sinking Fund
Time deposit
TOT AL
$182,813.94
230,479.87
6,938.96
2,636.71
22,425.•00
2,861.02
37.95
$ 65,000.00
23,270..16
$222,491.09
$ 3,155.06
167,515.79 170,670.85 51,820,24
$ 31,000.00
16,379.25
80.17 47,459.42
$ 36,801.72
148,193
$484,995.17
$ 38,397.32
617.94
3236.91 $ 74,252.17
$ 14,055.33
627:20
1,302.00 15,984.53 58,267.64
122.82
$178,902.69
_82,678.72 96,223.97 342,164.25
Balance at December 31, 1960 $142,830.92
$ 315.77
19,687.88
122,827.27
$142,830.92
-51-
WATERWORKS FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December 31, 1960
Land
Land improvements
Distribution system:
Purchased
Contributed by special assessments
Contributed by General Fund
Buildings and equipment:
Pumphouses
.-Wells
Pumps and piping
Tanks and towers
Office equipment
Miscellaneous equipment
Water treatment equipment
Automobiles and trucks
Tools
Construction in progress
* Indicates red figure.
TOTAL
$ 216,994.23
2,281,482.22
16,380..66
j2,514,857.11
$ 59,173:45
127,926.64
76,689.29
262,748.79
2,372.55
3,360.88
16,352.41
5,330.77
_ 370.57
$ 554,325.35
$3,104,050.48
292,533.67
$3,396,584.15
$ 216,994.23
A s s e i s _
Allowance for Depreciation
Net
Balance
Balance 1
Balance Balance
Balance
January
December
January December
December
_1, 1960
Additions Deductions Transfers 31, 1960
1, 1960 Additions 31,, 1960
31, 1960
27,431.38
$ 27,431.38
_ -
$ 27,431.38
7,436.64
300.34 $ 36.35 258.84 $ 7,959.47
$ 968.86 $ 308.48 $ 1,277.34
6,682.13
TOTAL
$ 216,994.23
2,281,482.22
16,380..66
j2,514,857.11
$ 59,173:45
127,926.64
76,689.29
262,748.79
2,372.55
3,360.88
16,352.41
5,330.77
_ 370.57
$ 554,325.35
$3,104,050.48
292,533.67
$3,396,584.15
$ 216,994.23
$ 68,231.61
$ 4,338.89
$ 72,570.50
$ 144,423.73
$167,515.79 2,448,998.01
205,002.00
47,295.84
252,297.84
2,196,700..17
16,380.66
2,074.84
_ 327.61
2,402.E
_ 13,978.21
$167,515.79 $ - $ - $2,682,372.90
$275,308.45
$51,962.34
$327,270.79
$2,355,102.11
$ 614.30
769.03
2,122.44
2,587.83
$ 6,093.60
$173,909.73
48,581.36
$222,491.09
$ 276.10
3,020.00
303,530.05
$ _ _ 306 826.15
$ 36.35 $307,084.99
3,118.71 307,084.99#
$3,155.06 $ -
$ 59,449.55
130,946.64
76,689.29
566,278.84
2,986.85
4,129.91
18,474.85
7,918.60
370.57
L_867,245- 10
$3,585,008.85
30,911.33
$3,615,920..18
$ 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
$397,525.64
$ 2,372.43
5,177.27
3,826.14
16,581.65
265.85
285.28
870.67
1,028.61
$30,407.90
$82,678.72
$82,678.72
$ 14,586.17
30,277.99
34,145.13
63,143.67
1,705.01
1,195.31
3,707.86
2,895.09
15 1 656.23
$480,204.36
$480,204.36
$ 44, 863.38
100,668.65
42,544.16
503,135.17
1,281.84
2,934.60
14,766.99
5,023.51
_ 370.57
$ 715,588.87
$3,104,804.49
30,911.33
$3,135,715.82
-52-
ASSETS
CURRENT ASSETS
Cash:
Demand deposits
Time deposits
Accrued interest
Receivables:
From customers
Assessments receivable
FIXED ASSETS - at cost
Land improvements
Furniture and fixtures
Trucks
Equipment
Less allowance for depreciation
LIABILITIES AND SURPLUS
CURRENT LIABILITIES
Trade accounts payable
Accrued payroll
SURPLUS
Invested in fixed assets
Available
SEWER RENTAL FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1960
$ 9,179.26
$8,000.00
43.34 8,043.34 $17,222.60
$14,220,40
267.40
14,487.80
TOTAL CURRENT ASSETS
$31,710.40
$ 2,616.35
1,695.53
3,247.86
19,983.11
$27,542.85
9,081.44
18,461.41
$50,171,81
$23,349.49
492.49
TOTAL CURRENT LIABILITIES $23,841.98
$18,461.41
7,868.42 26,329,83
$50,171.81
—53—
SEWER RENTAL FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year Ended December 31, 1960
Balance at January 1, 1960
Additions:
Net income for year
Transfers:
Additions to fixed assets
Allowance for depreciation
Balance at December 31, 1960
* Indicates deduction.
Invested
in Fixed
Available Assets
$5,724.96 $20,432.70
172.17
$5,897.13 $20,432.70
$ 676.21# $ 676.21
2,647.50 2,647.50#
81,971.29 $ 1,971.29#
$7,868.42 $18,461.41
th
-54-
SEWER RENTAL FUND
STATEMENTS OF INCOME AND EXPENSE
Operating income:
Service charges and penalties
Expenses:
Operating:
Sewer maintenance and treatment
Labor
Supplies
Repairs
Water
Power
Provision for depreciation
Vehicle operation:
Allocated from equipment pool
Provision for depreciation
Administrative and general:
Clerical and supervision
Auditing
Supplies, telephone, postage
and retirement
Building rent
Provision for depreciation
Miscellaneous
TOTAL EXPENSES
OPERATING INCOME
Other income:
Income on investments
Miscellaneous
NET INCOME
Depreciation charges to operations
included in expenses
VILLAGE OF EDINA
Per Cent. to
Operating
Year Ended December 31 Increase Income
1960 1959 Decrease# 196o 1959
$77,583.01 $72,284.19 $ 5,298.82 100.0% 100.0%
$43,721.34 $35,534.17 $ 8,187.17
15,071.63
15,311.62
239.99#
3,381.27
3,042.36
338.91
1,224.74
1,706.71
481.97#
200.00
200.00
-
2,391.65
1,920.68
470.97
1.859.09
1.843.48
15.61
$67,849.72
$59,559.02
$ 8,290.70
87.4% 82.4%
$ 1,620.00
$ 1,610.00
$ 10.00
649.57
481.98
167.59
$ 2,269.57
$ 2,091.98
$ 177.59
2.9% 2.9%
$ 4,392.00
$ 3,572.62
$ 819.38
300.00
250.00
50.00
2,460.00
1,800.00
660,00
120.00
96.00
24.00
138.84
99.32
39.52
-
5.00
5000#
$ 7.410.84
5.822.94
$ 1.587.90
9.68 8.0%
$77,530.13
$67.473.94
$10.056.19
99.9% 93.3%
$ 52.88
$ 4,810.25
$ 4,757.37#
.1% 6.7%
98.12
-
98.12
.1 -
21.17
1.82
19.35
$ 172.17
--- - - - - --
$ 4,812.07
--- - - - - --
$ 4,639.90#
---- - - - - --
.2% 6.7%
- - - - -- - - - - --
$ 2,647.50
$ 2,424.78
$ 222.72
-55-
SEWER RENTAL FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1960
Balance at January 1, 1960
Additions:
Collections on accounts receivable
Tax settlements received
Income from investments
Other
Deductions:
Expenses for the year
Less provision for depreciation
not requiring cash
Purchase of fixed assets
Refund
Payables at January 1, 1960:
Trade accounts
•Payroll
Less payables at December 31, 1960:
Trade accounts
Payroll
Summary:
Demand deposits
Time deposits
TOTAL
$ 9,179.26
8,043.34
$17,222.60
$76,548.66
19.55
43.34
75.95
$77,530.13
2,647.50 $74,882.63
676,21
32.00
$19,893.72
287.88 20,181.60
$95,772.44
$23,349.49
492.49 23,841.98
Balance at December 31, 1960
$12,465.56
76,687.50
$89,153.06
71,930.46
$17,222.60-
-56-
SEWER RENTAL FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December 31, 1960
—57—
Balance
Balance
January 1,
December 31,
1960
Additions
1960
ASSETS
Land improvements
$ 2,554:44
$ 61.91
$ 2,616.35
Furniture and fixtures
1,081.23
614.30
__1,695.53
Trucks
3,247.86
3,247.86
Equipment
19983.11
19,983.11
$26,866.64
$ 676.21
$27,542.85
ALLOWANCE FOR DEPRECIATION
Land improvements
$ 201.18
$ 103.42
$ 304.60
Furniture and fixtures
306.28
138.84
445.12
Trucks
1,267.98
649.57
1,917.55
Equipment
_ x,658.50
1,755.67
6,414.17
L6,433.94
$2,647.50
$ 9,081.44
NET BALANCE $20,432.70
$18,461.41
—57—
LIQUOR DISPENSARY FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1960
ASSETS
CURRENT ASSETS
Cash:
Demand deposits
Deposits in transit
Time deposits
Working funds
Investments:
Village of Edina - Waterworks Revenue
Bonds of 1959 - at cost
Accrued interest
Accounts receivable:
Sundry
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, fixtures and equipment
Leasehold improvement
Less allowance for depreciation and.
amortization
LIABILITIES AND SURPLUS
CURRENT LIABILITIES
Trade accounts payable
Accrued payroll
SURPLUS
Invested in fixed assets
Available
* Indicates red figure.
$ 25,945.10#
26,123.72
4z, 000.00
$ 42,178.62
2,000.00
$ 26,735.65
584.65
$196,447.83
23,489.77
5;805.12
_ 998.11
$ 731.22
150.00
TOTAL CURRENT ASSETS
$ 16,500.00
$ 2,224.47
75,331.92
23,917.33
16,840.43
$118,314.15
$ 44,178.62
27,320.30
85.67
226,740.83
881.22
$299,206.64
_ 38,580.96 79,733.19 96,233.19
$395,439.83
TOTAL CURRENT LIABILITIES
$ 96,233.19
283,047.15
$ 14,063.74
2,095-75
16,159.49
379,280.34
$395,439.83
-58-
LIQUOR DISPENSARY FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year Ended December 31, 1960
Balance at January 1, 1960
Additions:
Net income for the year
Deductions:
Transfer to General Fund
Transfer to Park Fund
Transfer to Park Construction Fund
Transfers:
Additions to fixed assets - net
Provision for depreciation
Balance at December 31, 1960
* Indicates red figure.
Total Available
$327,197.15 $226,225.20
207,083-19
534,280,34
$ 32,550.00
42,450.00
80, 000.00
1155,000.00
$379,280.34
207,083-19
33,308.39
$ 32,550.00
42,450.00
80,000.00
$155,000-00
278,308.39
1,322.39#
6,061.15
$379,280.34 $283,047.15
Invested
in Fixed
Assets
$100,971.95
100,971.95
100,971.95
1.,322.39
6,061.15#
$ 96,233.19
-59-
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
Occupancy
Administrative
TOTAL OPERATING EXPENSES
NET OPERATING PROFIT
Other income:
Cash discounts
Cash over
Other
Income on investments
Depreciation and amortization
included in expenses
* Indicates red figures.
Increase - Decrease#
50th Street Southdale Total 50th Street Southdale Total 50th Street Southdale Total
$542,340.13 $370.,251.10 $ 912,591.23 $485,272.90 $3209-775.82 $ 806,048.72 $57,067.23 $49,475.28. $106,542.51
63,873.44
55,395.21
119,268.65
57,636.03
49,069.70
106,705.73
6,237.41
6,325.51
12,562.92
101,073.46.
55,916.38
156,989.84
83,520.80
47,643.76
131,164.56
17,552.66
8,272.62 .
25,825.28
11 048.91
718,335.94
6,535-09
$488,097.78
17 58 .00
1,206,433.72
9,318-32
$635,748.05
52501.1 9
22,990.77
14,819.81
1,058,738.82
1,730-59
$82,587.89
1,033-60
5,107.01.
2 76 .19
147,694.90
1 9 3.65
$717,172.29
557.97
87,539.81
1,721.62
1,2049712.10
937.36
$634,810.69
393.00
22,597.77
1,330.36
$1,057,408.46
226.29
$82,361.60
164.97
$64,942.04
. 391.26
$147,303.64
$120,756.36 $ 95,895.90 $ 216;652.26 $104,874.82 $ 69,753.23 $ 174,628.05 $15,881.54 $26,142.67.$ 42,024.21
Per Cent. to Net Sales
50th Street Southdale
1960 1959 1960 1959
100.00% 100.00% 100.00% 100.00%
548,246.62
$169,002.98
370,812.43
$466,708.33
919,059-05
1,135,711.31
96 8.71
601,323.53
342,357.56
12,110.79
838=806.27
1,013,434.32
51 797.91
7,679.45
28,454-87,
_
54,597.54
_80,252.78
$122,276.99
126,847.70
99,893.13
366 815.20
226,740.83
120,756-36
95,895.90
21
216,652.26
$ 796,782.06
69091-34
61
3,997.23-,._
$50,600.31...$112,188.42
10,088.57
75.60
75.70
75.24
74.83
$�
=155.28
$175;017.01
908,970;48
480 567.17
316 .89
588.11
'$
24.40%
24.76%
$120,724.61
295,741.62
$154,243.52
$106,382.88
$ 260,626.40
20,,773.49,
$14,341.73
35,115.22
24.30%
25.17%
$ 25,533.47
$ 17,142.84-
$ 42,676.31
$ 23,126.07
$ 17,207.04
$ 40,333.11
$2,407.40
$ 64..20 *.$
2,343.20
3.56%
3.65%
3.52%
4.07%
11,612.69
16,153.10
27,765.79
6,037.28
15,092.17
21,129.45
5,575.41
1,060.93
6,636.34
1.62
.95
3.31
3.57
14 041.25
51,187-41
10,826.84
24,868.09
11 692.26
40,855.61
8,110.24
40,409..45
19,802-50
81 265.06
2,348-99
$10,331.80
2 716.60 .
8 3,713-33' ;
5 065.59
13
1.95
7.13%
1.84
6.44%
2.22
9.05%
1.92
9.56
95 310.19
$123,829.60
,122.78
$
T113,387.91
65,973.43
76,601.83
200,431:43
$
$ 179,361.34
$10,441.69
$10,628.40
$ 21,070.09
17.27%
17.86%
15.71%
15.61%
2,955.83
2,007.87
4,963.70
2,886.63
1,854.16
4,740.79
69.20
153.71'�
222.91
•41
•46
•41
•44
125.94
11.04#
114.90
102.66
42.91#
59.75
23.28
31..87
55.15
.02
.02
.01#
238.57
-
238.57
39.26
- -
39.26
199.31
-
199.31
.03
$127,149.94
$ 78,598.66
$ 205,748.60
$116,416.46
$ 67,784.68
$. 184,201.14
$10,733:48
$10,813.98.
$ 21,547.46
17.73%
18.34%
16.12%
16.04%
NET INCOME
1,334.59
$ 207,083.19
1,079.07
$ 185,280.21
$ 3-,866.54 $ 2,194.61 $ 6,061.15 $ 2,456.02 $ 2,194.61 $ 4,650.63 $ 1,410.52 $ -
255.52
$ 21,802.98
$ 1,410.52
.•
i
LIQUOR DISPENSARY FUND
COMPARATIVE OPERATING EXPENSES
VILLAGE OF EDINA
Selling:
Salaries and wages
Supplies
Taxes and licenses
Pro -rata promotion
Miscellaneous
Occupancy:
Salaries and wages
Rent
Telephone
Supplies
Light and power
Heat
Property taxes
Laundry
Burglar alarm
Insurance
Repairs and maintenance
Depreciation
Rubbish hauling
Miscellaneous
Janitorial services
Administrative:
Salaries
Supplies
Professional services
Allocated expenses - retirement, insurance,
office supplies, etc.
Miscellaneous
TOTAL
* Indicates red figure.
-61-
Y e a r
E n d e d
D e c e m b e r
3 1
1 9 6 0
1 9 5 9
Increase- Decrease#
50th Street
Southdale
Total
50th Street
Southdale
Total
50th Street
Southdale
Total
$24,491.38
$16,036.05
$40,527.43
$21,633.30
$16,207.00
.$37,540.30
$ 2,858.08
$ 170.95*
$ 2,687.13
983.59
872.60
1,856.19
1,309.03
678.82
1,987.85
325.44#
193.78
131.66-
54.00
54.00
108.00
79.00
54.00
133.00
25.00#
-
25.00#
-x.50
150.19
180..1509
-
164.72
164.72
_
15.47
15.47
-
102.50
� 20,7.24 ,,_
.100.24#
- 102.50#
202.74#
�6 25,533.47
17,142.84
� 42,676.31
23,126.07
17,207:04
$40,333.11
$ 2,407.40
64.20#
$ 2,343.20
$ 100.14
$$ -
$ 100.14
$ 114.91
$ 25.73-
$ 140.64
$ 14.77#
$ 25.73#
$ 40.50#
-
10,877.87
10,877.87
-
10,412.81
.10,412.81
_
465.06
465.06
305.60
249.60
555.20
231.30
237.00
468.30
74.30
12.60
86.90
266.82
97.38
364.20
171.80
262.08
433.88
95.02
164.70*
69.68#
1,591.77
1,095.25
2,687.02
975.31
1,041.76
2,017.07
616:46
53.49
669.95
331.60
-
331.60
350.23
-
350.23
18.63#
-.
18.63#
-
1,023.72
1,023.72
-
-
-
_
1,023.72
1,023.72
326.22
128.31
454.53
287.78
150.86
438.64
38.44
22.55#
15.89
163.00
-
163.00
248.00
-
248.00
85.00#
-
85.00#
492.58
264.97
757.55
614.99
236.01
851.00
122.41#
25.96
93:45#
3,288.39
91.39
3,379.78
396.45
401.31
797.76
2,891.94
309.92*
2,582.02
3,866.54
2,194.61
6,061.15
2,456.02
2,194.61
4,650.63
1,410.52
-
1,410.52
30.00
120.00
150.00
109.50
60.00
169.50
79.50#
60.00
19.50#
148.03
10.00
158.03
80.99
70.00
150.99
67.04
60.00*
7.04
702.00
-
702.00
-
702.00
_
702.00
11,612.69
16,153.10
27,765.79
6,037.25
$15,092.17
21,129:45
5,575:41
$1,060.93
6,636.34
$10,410.0Q
$ 7,998.85
$18,408.85
$ 8,262.50
$ 6,250.00
$14,512.50
$ 2,147.50
$1,748.85
$ 3,896.35
327.25
225.48
552.73
384.82
235.58
620.40
57.57#
10.10*
67:67#
938.00
783.00
1,721.00
1,031.50
515.25
1,546.7.5
93.50*
267.75
174.25
2,340.00
1,740.00
4,080.00
1,950.00
1,050.00
3,000.00
390.00
690.00
1,080.00
26.00
79.51
105.51
63.
59.41
122.85
37.44 *'
20.10
17.34#
$14,0111.25
$10.,826.84
$24,868.09
$11,692.26
$ 8,110.24
$19,502.50
$ 2,348.99
$2,716.60
$ 51065.59
$51,187.41
$44,122.78
$95,310.19
$40,855.61
$40,409.45
$81,265.06
$10,331.80
$3,713.33
$14,045.13
-61-
LIQUOR DISPENSARY FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1960
Balance at January 1, 1960
Additions:
Gross sales
Cash discounts
I'hterest received on investments
Decrease in prepaid expenses
Other revenue
Deductions:
Merchandise purchased
Bottle refunds
Operating expenses
Less depreciation included therein
not requiring cash
Net additions to'fixed assets
Transfers:
General Fund
Park Fund
Park Construction Fund
Increase in working funds
Increase in accounts receivables
Decrease in liabilities:
Balance at January 1, 1960:
Trade accounts
Accrued payroll
Due to other funds
Balance at December 31, 1960:
r Trade accounts
Accrued payroll
Summary:
Demand deposits
Time deposits
TOTAL
* Indicates red figure.
2,805.92#
$1,206,433.72
4,963.70
1,040.63
204.14
353.47 1 212,995.66
T1,210,189-74
$ 919,059.05
1,721.62
$95,310.19
6,Q61-15. 89,249-04
1,322.39
$32,550.00
42,450.00
80,000.00 155,000.00
250.00
85.67
$15,484.85
1,935.70
62.29 17,482.84
$14,063.74
2,095.75 16,159.49 1,323.35 1,168,011.12
Balance at December 31, 1960 . $ 42,178.62
$ 178.62
42,000.00
$42,178.62
-62-
ASSETS
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
# Indicates red figure.
LIQUOR DISPENSARY FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December 31, 1960
Balance-. Balance
January 1, December 31,
1960 Additions Deductions Transfers 1960
$ 16,500.00 $ 16,500.00
2,224047 2,224:47
49,440.72 $ 400.00 $25,491.20 75,331.92
14,195.23 1,346.00 8,376010 23,917.33
16,840-43 16 _ 840.43
$ 99,200.85 $1,746.05 134,814.15
_ 34,290.91 2,086°53 2,510.14 33,867_30#
$133,491.76 $3,832.53 $2,510.14 $ - $134,814.15
$ 609.68 $ 92.40 $ 702.08
18,155.65 3,007.93 21,163.58
8,921.61 1,276.78 10,198.39
4,832.87 1,684.04 6,516.91
32 519.81 $6,061.15 $ - $ - g'38,580.96
$100,971.95 $.969233.19
-63-
Fund:
General:
Current
Poor:
Current
Park:
Current
Swimming Pool:
Current
Park Sinking:
For bonds and interest
..Park Construction:
For construction
Improvement:
Current
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
Time deposits.:
Fidelity Bank and Trust
Midland National Bank
Accrued interest on time
deposits
* Indicates red figure.
CASH - ALL FUNDS
VILLAGE OF EDINA
December 31, 1960
Demand and
Time For Working
Deposits _Deposit _ Funds Total
794.25# $10,745.29 $ 400.00 $ 10,351.04
8,797.73 3,129.62 11,927.35
32,773.97 5,270.42 38,044.39
6,671.90 6,671.90
28,742.22 904e46 29,646.68
24,.113.20 24,113.20
A 10,439.07 $ 2,436.20 12,875.27
1,312,745.01 5,864.28 1,318,609.29
72 220.86 #.._ 72 220.86#
1,250,963.22 $,300.48 $ 1,259,263.70
$ 123,031.01 $ 87.03 $ 25.00 $ 123,143.04
19,687.88 '19,687.88
142,718.89 87.03 $ 25.00 142,830.92
17,203.05 19.55 17,222.60
16,05 26,123.72 2,000.00 44,178.62
$1,527,244.83 $54,580.57 $2,425.00 $1,584,250:40
$ 38,230.28*
1,698.44
12,906.06
$ 23,625.78#
1,050,000.00
500,000.00
870.61
$1,527,244.83
—64—
SECURITY FOR DEPOSITS
VILLAGE OF EDINA
December 31, 1960
Demand deposits:
First Edina National Bank
First Southdale National Bank
Midland National Bank of Minneapolis
TOTAL
TOTAL
TOTAL
Time deposits:
Midland National Bank of Minneapolis TOTAL
Fidelity Bank and Trust Company,
Minneapolis, Minnesota
* Indicates red figure.
Deposits S e c u r i t y f o r D e p o s i t s
r
Books. Bank Principal Amount Description
$ 38,230.28# $ 163,660.62 $ 200,000.00 United States Treasury bonds February 16, 1964
10,000.00 Federal Deposit Insurance Corporation _.
$ 38,230.28# $ 163,660.62 $ 210,000.00
$ 1,698.44
$ 1,698.44
$ 12,906.06
$ 12,906.06
$ 500,000.00
$ 65,165.47
$ 65,165.47
$ 27,906.06
$ 27,906.06
$ 500,000.00
$1,050,000.00 $1,050,000.00
TOTAL $1,050,000.00 $1,050,000.00
$ 100,000.00
20,000.00
10,000.00
$ 130,000.00
$ 35,000.00
15,000.00
10.000.00
$ 60,000.00
$ 500,000.00
$1,000,000.00
55,000.00
10,000.00
$1,065,000.00
United States Treasury bonds
Village of Edina, Minnesota 2.70%
Improvement Bonds
Federal Deposit Insurance Corporation
May 15, 1966
March 1, 1966 and 1967
Independent School District No. 1, Rice County,
Minnesota, 2.60% School Building Bonds January 1, 1964
City of Moorhead, Minnesota 1.90%
Certificates of Indebtedness February 1, 1964
Federal Deposit Insurance Corporation
United States Treasury bonds
United States Treasury certificates
United States Treasury notes
Federal Deposit Insurance Corporation
September 15, 1972
August 1, 1961
February 15, 1963
—65—
Description
Village of Edina, Minnesota:
1952 Improvement Bonds
Sanitary Sewer #53 Improvement
Bonds
1954 Improvement Bonds
1955 Waterworks Revenue Bonds
1956 Improvement Bonds
1957 Improvement Bonds
1957 Park Bonds
1958 Improvement Bonds
1959 Improvement Bonds
1959 Waterworks Revenue Bonds
1960 Improvement Bonds
FUND OWNERSHIP
Improvement Funds:
Special Assessment
Funds
Improvement Funds
Construction
Sewer Rental
Waterworks
Liquor Dispensary
General
Poor
Park Construction
Park
Park Sinking
Balance
January 1,
1960
$ 14,000.00
1,553,000.00
95,000.00
$1,662,000.00
165,000.00
27,000.00
9,000.00
96,000.00
INVESTMENTS
VILLAGE OF EDINA
December 31, 1960
Purchased
$ 13,000.00
773,000.00
450,000-00
1,236,000.00
6,000.00
115,000.00
85,000.00
65,000.00
9,000.00
TOTAL $ 650,000.00
Balance
December 34
Sold 1960
$ 27,000.00
1,808,000.00
X5,000.00
$2,380,000.00
6,000.00
280,000.00
85,000.00
65,000.00
9,000.00
25,000.00 25,000.00
25,000.00 25,000.00
518,000.00
518,000.00
27,000.00
9,000.00
96,000.00
$1,959,000.00 $1,566,000.00 $2,875,000.00 $650,000.00
Carrying
Amount
December 31,
1960
507,546.51
507,546.51
27,320.30
9,000.00
96,000.00
$639,866.81
..
Maturity
Interest
Rate
Face Value
March
1,
1963
2.75%
$ 10,000.00
January
1,
1965
3.25
.5,000.00
March
1,
1961
2.40
5,000.00
March
1,
1969
and
1970
2.50
9,000.00
March
1,
1962
and
1963
3040
96,000.00
March
1,
1971
to
1979
3.70 to
3.90
191,000.00
March
1,
1968
to
1973
3.70
96,000.00
March
1,
1961
to
1967
2.00 to
2.70
20,000.00
March
1,
1966
to
1969
2.75 to
3.50
109,000.00
September
1,
1971
and
1974
3.40and
3.50
27,000.00
June
1,
1968
to
-1970
3.20 to
3.30
82,000._00
Purchased
$ 13,000.00
773,000.00
450,000-00
1,236,000.00
6,000.00
115,000.00
85,000.00
65,000.00
9,000.00
TOTAL $ 650,000.00
Balance
December 34
Sold 1960
$ 27,000.00
1,808,000.00
X5,000.00
$2,380,000.00
6,000.00
280,000.00
85,000.00
65,000.00
9,000.00
25,000.00 25,000.00
25,000.00 25,000.00
518,000.00
518,000.00
27,000.00
9,000.00
96,000.00
$1,959,000.00 $1,566,000.00 $2,875,000.00 $650,000.00
Carrying
Amount
December 31,
1960
507,546.51
507,546.51
27,320.30
9,000.00
96,000.00
$639,866.81
..
Taxable valuation:
Real estate
Personal property
Tax levies extended:
Extended in year
Collectible in year
General
Parks
Bonds and interest
Poor and public nursing
Firemen's relief
Fire protection
Hennepin County Park
Tax rate by mills:
General
Parks
Bonds and interest
Poor and public nursing
Firemen's relief
Fire protection
Hennepin County park
TAXABLE VALUATIONS, TAX LEVIES AND RATES
VILLAGE OF EDINA
TOTAL
TOTAL
December .31
1960 .1959
$24,728,149.00 $23,054,939.00
2,531,359.00 2,356,778.00
$27,259,508.00 $25,411,717.00
1960
1961
$ 659,407.50
54,246.42
43,342.61
7,632.66
7,905.26
7,905.26
1908.16
$ 782,347.87
24.19
.29
1.99
1.59
.29
.28
.07
TOTAL 28.70
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
2.01
1.83
.31
.30
.30
27.88
-67-
MUNICIPAL COURT FINES
VILLAGE OF EDINA
Year Ended December 31, 1960
Fines and costs imposed and collected:
Balance uncollected January 1, 1960
Fines and costs imposed
Collections by.Clerk of Court
Balance uncollected December 31, 1960
.:
State
and
_Village
County
_ Total
$ 414.00
$ 414.00
47,049-00
$47,463.00
49.00
47,498-00
49.00
$47,912.00
46,728.00
449.00
47,177.00
$ 735.00
$ —
735.00
.:
Position
On file with Clerk— Treasurer:
Blanket position
Blanket position
Village Manager
Clerk— Treasurer
On file with Secretary of State:
Clerk of Municipal Court
Deputy Clerk of Municipal Court
On file with County Auditor:
Assessor
Deputy Assessor
do
OFFICIAL BONDS
VILLAGE OF EDINA
December 31, 1960
_ Name
Term Expires
Bond Expires
_ Amount
Surety
_
Police department employees
February
13,
1961
2,500.00
The
Aetna
Casualty
and
Surety
Company
All Village employees not
otherwise specifically bonded
February
13,
1961
$25,000.00
The
Aetna
Casualty
.and
'Surety
Company
Warren C. Hyde
December 31, 1961
February
13,
1961
$50,000.00
The
Aetna
Casualty
and
Surety
Company
Gretchen S. Alden
December 31, 1961
February
13,
1961
$25,000.00
The
Aetna
Casualty
and
Surety
Company
Mrs. Dorothy Frazier
Indefinite
November
'9,
1961
$ 1,000.00
The
Aetna
Casualty
and
Surety
Company
Kathryn B. Beard
Indefinite
November
9,
1961
$ 1,000.00
The
Aetna
Casualty
and
Surety
Company
Donald L. Kearns
Indefinite
January
1,
1963
$ 500.00
The
Aetna
Casualty
and
Surety
Company
Loukas M. Angelus
Indefinite
September
1,
1961
..$ 500.00
The
Aetna
Casualty
and
Surety
Company
Charles Fietz
Indefinite
September
1,
1961
$ 500.00
The.
Aetna
Casualty
and
Surety
Company
.•
INSURANCE COVERAGE
VILLAGE OF EDINA
December 31, 1960
Building and contents:
Village Hall
Library
Tool House Garage
Storage Shed
Municipal Liquor Store - 50th Street
Pumping Stations:
Number 1
Number 2
Number 3
Number 4
Number 5
Number 6
Number 7 .
Number 8
Number 9
Water Tower - Concord Street
Water Tower - 69th Street
Inventories:
Liquor Store - 50th Street
Liquor Store - Southdale
Automotive:
Bodily injury
Property damage
Comprehensive
Fire and
Extended Coverage
Buildings Contents
$346,000(B) $+4,000(B)
25,000(D)
48,000(D) 14,400(D)
6,400(D)
65,000(D) 4,400.(B)
2,400(B).
2,300(B)
5,200(B)
3,200(B)
7,200(B)
7,000(B)
7,200(B)
6,200(B)
9,600(B)
7,800(B)
9,600(B)
8,000(B)
8,000(B)
8,300(B)
6,400(B)
8,300(B)
9,600(B)
12,200(B)
80,000(D)
and Southdale liquor stores.
144,000(D)
Village Liquor Store:
Comprehensive glass breakage
Burglary, robbery, and theft - within premises - Note E
Burglary, robbery, and theft - outside premises - Note E
Burglary, robbery, and theft - merchandise - Note E
Other Insurance:
General liability:
Automotive non - ownership, independent
contractor, and Village premises - operations:
Bodily injury
Property damage
Workmen's compensation
Edina Volunteer Fire Department group accident policy,
maximum each fireman
Property floater all risk - voting machines
Property floater - equipment other than automotive
Note
A -
40%
coinsurance
Note
B -
80%
coinsurance
Note
C -
90%
coinsurance
Note
D -
100%
coinsurance
Note
E -
50th
and Southdale liquor stores.
n +1,--
$215,000(D)
70,000(C)
$250 / 500,000
50,000
Actual Cash Value
Actual
5,000
5,000
7,500(A)
250 / 500,000
50,000
Statutory
3,000
38,275
Actual Cash Value
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ORGANIZATION
VILLAGE OF EDINA
December 31, 1960
-71-
Elected,
Term
Re— elected or
Expires
Re— appointed to
December 31
December 31
Village Council:
Mayor:
Arthur C. Bredeson
1961
Trustees:
Frank J. Tupa
1960
1963
Wm. Dickson
1962
John A. Kohler (resigned June 27, 1960)
1960
R. N. Beim
1961
James Van Valkenburg (appointed June 27, 1960)
1960
1963
Clerk— treasurer:
Gretchen S. Alden (appointed)
1960
1961
Assessor:
Donald Kearns (appointed).
1960
1961
Municipal Court:
Donald S. Burris, Judge
1962
Bruce B. James, Special Judge
1962
Village Manager:
Warren C. Hyde
Appointed
by Council
Village Attorney:
Maynard B. Hasselquist
1960
1961
Prosecuting Attorney:.
Walter Gustafson
1960
1961
Engineer: _
Joseph Zikan
1960
1961
Finance Director:
J. N. Dalen
1960
1961
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