HomeMy WebLinkAbout1961 Financial Statements-- 00000 - -.
AUDITED FINANCIAL STATEMENTS
AND OTHER FINANCIAL INFORMATION
VILLAGE OF EDINA, MINNESOTA
December 31; 1961
-- 00000 --
-- 00000 --
INDEX
ACCOUNTANTS' REPORT ON AUDITED FINANCIAL STATEMENTS........ PAGE 4,
COMMENTS AND ACCOUNTANTS' REPORT ON OTHER FINANCIAL
INFORMATION................ ............................... 5
FUNDBALANCE SHEETS ......... ............................... 9
GENERAL FUND:
BALANCESHEET ............. ............................... 11
STATEMENTOF SURPLUS ...... ............................... 12
ANALYSIS OF CHANGE IN CASH BALANCE .....................:. 13
REVENUE................................................... 14
EXPENDITURES............... .............,................. 15
CENTRAL SERVICES ......................................... 18
FIXEDASSETS .......... ............................... .. 19
POOR FUND:
BALANCESHEET ............. ............................... 20
STATEMENT OF SURPLUS — UNAPPROPRIATED .................... 21
STATEMENT OF REVENUES AND EXPEND .ITURES ................... 21
ANALYSIS OF CHANGE IN CASH BALANCE........ ............... 22
PARK FUND:
BALANCESHEET ................... 23
STATEMENT OF UNAPPROPRIATED SURPLUS ...................... 24
ANALYSIS OF SURPLUS INVESTED IN FIXED ASSETS ............. 24
ANALYSIS OF CHANGE IN CASH BALANCE ......................... 25
REVENUEAND EXPENDITURES .................. ............. 26
FIXEDASSETS .............. ............................... 27
SWIMMING POOL FUND:
BALANCESHEET. . .............................. ............ 28
STATEMENT OF SURPLUS............. -29
ANALYSIS OF CHANGE IN CASH BALANCE ....................... 30
STATEMENT OF INCOME AND EXPENSE ................. .... .. 31
STATEMENT OF INCOME AND EXPENSE (CONCESSIONS ONLY)....... 32
FIXEDASSETS .............. ............................... 33
PARK SINKING FUND:
BALANCESHEET ............................................ 34
STATEMENTOF SURPLUS ...... ............................... 35
ANALYSIS OF CHANGE IN CASH BALANCE ....................... 36
BOND AND INTEREST MATURITIES, DEFERRED TAX LEVIES,
AND RESERVE FOR UNCOLLECTIBLE TAXES...................... 37
PARK CONSTRUCTION FUND:.
BALANCESHEET ............. ............................... 38
ANALYSIS OF RESERVE FOR CONSTRUCTION ........ o............ 39
ANALYSIS OF CHANGE IN CASH BALANCE ....................... 40
FIXEDASSETS .............. ............................... 41
INDEX (Cont'd)
IMPROVEMENT FUNDS:
COMBINEDBALANCE SHEET ............................... PAGE 42
STATEMENT OF SURPLUS — UNAPPROPRIATED .................... 43
ANALYSIS OF CHANGE IN CASH BALANCE ....................... 44
BONDSPAYABLE ............................................ 46
WATERWORKS FUND:
BALANCESHEET...:'...... ..... ,'....... :......... 47
NOTESTO BALANCE SHEET.. ....... .::................ 48
STATEMENT OF SURPLUS........ 49
STATEMENTOF INCOME AND EXPENSE .......................... 50
ANALYSIS OF CHANGE IN CASH BALANCE ....................... 52
FIXED. ASSETS .............. ............................... 53
SEWER RENTAL FUND:
BALANCESHEET .............. ............................... 54
STATEMENT OF SURPLUS...... .... -55
STATEMENT OF INCOME AND EXPENSE....— ........... ..... 56
ANALYSIS OF CHANGE IN CASH BALANCE ......................., 57-
FIXEDASSETS .............. ............................... 58
LIQUOR DISPENSARY FUND: '
BALANCESHEET.... ....... ...............................
STATEMENTOF SURPLUS ......................................
COMPARATIVE STATEMENT OF INCOME AND EXPENSE..............
COMPARATIVEOPERATING EXPENSES ...........................
ANALYSISOF CHANGE IN CASH BALANCE .......................
FIXEDASSETS .............. ...............................
GENERAL:
CASH.— ALL FUNDS ..........................................
SECURITYFOR DEPOSITS ..... ...............................
INVESTMENTS............... ...............................
TAXABLE VALUATIONS, TAX LEVIES AND RATES .................
MUNICIPALCOURT FINES .... . .... .............. ....o........
OFFICIALBONDS ................. .........................
INSURANCECOVERAGE ..... . ......... . .... . .............. .o..
ORGANIZATION— .... o— .... o.o ....... ...................
59
60
61
62
63
64
65
66
67
68
69
70
71
72
ERNST & ERNST
FIRST NATIONAL BANK BLDG:
MINNEAPOLIS 2, MINN.
ACCOUNTANTS' REPORT ON AUDITED FINANCIAL STATEMENTS
To the Village-Council
Village of Edina, Minnesota
We have examined the balance sheets.of the various funds'of the - Village of Edina,
Minnesota as of December 31, 1961,,and'the related statements of revenues and
expenditures or income and expense and surplus for the year then ended. Our
examination.was made in accordance with generally accepted auditing standards,
and accordingly included such tests of the accounting records and such other
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, 1961 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 4, 1962
ERNST. & ERNST
FIRST NATIONAL BANK BLDG.
MINNEAPOLIS 2, MINN.
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 presenta-
tion of the financial position and results of operations, and is submitted for analy-
tical 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 statements. Other information was derived from the accounting re-
cords 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, 1961 was reconciled to balances reported directly to us
by the various depositories. Cash on hand at December 31, 1961 for subsequent deposit
was also verified to us by the depositories receiving the cash after December 31, 1961.
Cash working funds were counted by us.
Cash receipts and cash disbursements procedures were reviewed and tested by us for se
lected periods during the year to determine that proper procedures were being followed
to control recording of receipts and that proper authorization was provided for disburse-
ments..
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 319 1961 were tested
by direot correspondence and by review of the records for subsequent collections. Dif-
ferences reported were not material and were explained to our satisfaction.
Current and delinquent taxes.and special assessments and tax settlements received dur-
ing 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.
-5-
Interfund transfers and charges and interfund balances were - reviewed by us.
We were present at the muncipal liquor stores at the time physical inventories were
taken. We observed inventory procedures used by Village employees and tested quanti-
ties by independent count of items selected by us. Inventory valuations were tested
by reference to vendors' invoices and by tests of clerical accuracy.
Additions to and disposals from fixed asset accounts were reviewed by.us and verified
by inspection of contracts, 'invoices or other. data. Allowances for 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, 1961.
Canceled bonds and interest coupons redeemed and paid during 1961 were inspected by. us.
Official minutes of the Village Council for 1961 were read by us.
Copies of licenses and permits issued,during. the year were tested to recorded collec-
tions. Municipal court fines wete 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 11 to 19..
POOR FUND
Reference is made to detail schedules elsewhere in this report as to operations of this
fund. Such details appear on pages 20 to 22.
PARK FUND
Reference is made to detail schedules elsewhere in this report as to operations of this
fund. Such details.appear on pages 23 to 27.
SWIMMING POOL FUND
Detail schedules outlining financial operations of this fund are shown on pages 28 to 33
of.this report. Attention is directed to the net loss of $3,149.89 from swimming pool
and related concession operations. Such loss is after the provision of $7,750.50 for
interest on bonded debt issued for the swimming pool facilities., and the provision of
$7,580.86.for depreciation on swimming pool facilities.
PARK SINKING FUND
Reference is made to detail schedules appearing on pages 34 to 37 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 38 to 41. Fixed assets for park purposes amounting
to $156,992.22 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.
IMPROVEMENT FUNDS
Reference is made to detail schedules elsewhere in this report as to operations of these
funds and the related Construction Fund. Such details appear on pages 42 to 46 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 tem-
porary.bonds sold for construction or improvement purposes by the various improvement
funds. Redemption of these bonds is provided for b:y-, 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 bal-
ances may be used for refunding canceled assessments.
The 1950 First Series, the 1950 Second Series and the 1951 First Series improvement funds
retired all remaining bonds during the year. The free surpluses of these funds were
transferred to the Permanent Improvement Revolving Fund to aid the financing of small
improvements without the issuance of bonds.
Preceding the sale of $2,200,000.00 of 1961 First Series Improvement Bonds, temporary
financing was obtained by the sale of $1,200,000.00 of Temporary Improvement Bonds —
Series D. This temporary financing was outstanding.for sixty days and was redeemed
with funds made available by the sale of the 1961 First Series Improvement Bonds.
WATERWORKS FUND
Reference is made to detail schedules elsewhere in this report as to operations of this
fund. Such details appear on pages 47 to 53.
A temporary loan of $37,000.00 from the Improvement Bond Redemption Fund was authorized
by the Village Council on December 11, 1961.
Net income of the fund for the year amounted to $3,839.69, an increase of $2,164.78 in
spite of the fact the provision for "depreciation increased $.13,675.79• The principal
reasons for this increase may be summarized as follows:
Increase in income from sales of water, water meters
and other services and income on investments $ 8,048.89
Increase in depreciation charges included in .
operating expense` $13,675.79
Increase in'other operating expenses 535.28
$14,211.07
Less:.
Decrease in bonded debt interest $3,219.00
Decrease in repair expense 21685.89
Decrease in professional service fees. 2,422.07 8,326.96
INCREASE IN EXPENSES $ 5,884.11
INCREASE IN NET INCOME $ 2,164.78
SEWER RENTAL FUND
Reference is made to detail.schedules.elsewhere in'this report as.,to:.operations . tof:this
fund. Such details appear on pages 54 to 58.
—7—
LIQUOR DISPENSARY FUND
Reference is made to detailsschedules elsewhere in this report as to operations of this
fund. Such details appear on pages 59 to 64.
Net income of the fund amounted to $236,109.22.for the year. Of this amount, $205;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 66 of this report showing details of deposits of
the Village and securities pledged as collateral thereof at December 31, 1961. Security
for deposits at the Fidelity Bank and Trust Company were inadequate with respect to com-
pliance with the provisions of M. S. A. Section 118.01 which prohibit the Treasurer from
maintaining a deposit in excess of ninety per cent of the market value of the collateral
pledged exclusive of amounts covered by federal deposit insurance.
Balance on deposit
Security for deposit:
Collateral at 90% of market
Federal deposit insurance
Fidelity
Bank and
Trust Company
$350,000:00
$308,754.79
10,000.00
$318,754.79
Pledged collateral was also inadequate at various times during the year during periods of
heavy cash inflow caused by receipt of tax settlements and proceeds of bond sales. This
situation does not adhere to the afore - mentioned statute and action is necessary to pre-
vent similar situations in the future.
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 4, 1962
H
FUND BALANCE SHEETS
-9-
VILLAGE
OF EDINA
December
31, 1961
F u
n d s
Swimming
Park
Sewer
Liquor
"Total
General
Poor
Park
Pool
Park Sinking
Construction
Improvement
Waterworks
Rental
Dispensary
ASSETS
Cash:
Current funds
$
424,322.85
$
241,484.43
$ 1,450.78
� 4.7,295 .73
$
6,295.59
$ 57,899.08
$14,400.26
� 55,496.98
857.324.00.
9 39,022.66
($.33,047.59)
$ 831,877.68
19,471.25
Appropriated
$
1,281,646.85
$
241,484.43
$ 1,450:78
47,295.73
$
6,295.59
$ 39,022.66
3. 33,047.59)
$
831,877.68
77,370.33
$14,400.26
$ 55,496.98
Amounts segregacted,and shown below
$
47.701.25
1,233,945.60
$
241,484.43
$ 1,450.78
$ 47,295..73
$
6,295.59.
$ 39;022.66
($ 33,04 7.59)
831, .877.68
47,701.25
29,669.08
$14,400.26
55,496.98
Investments:
United States Government securities-
$
55'0,000.00
at face value or cost
$
550;000.00
Village of Edina bonds - at face
'660.787.31
�
$15:000.00
9 96.000.00
522.546.51
9 27,240.80 .
value or cost
$
1 ;210,787.31
$
-
$15,000.00
$ -
$
-
$ -
$ 96,000.00
$
1,072,546.51
$ -
$ -
$ 27,240.80
Receivables:
Taxes and special assessment.s:
$
19223,147.27
$ 34.,416.84
$
1,188,328.23
$ 402.20
Current
Delinquent
273,916.68
$
18,945.01
$ 78.02
$ 744.64
986,000.00
254,.49.01
5,280,658.90
Deferred
6;266,658.90
$ 24,700.02
15,430.02
Customers
Due from other funds
40,130.04
`255,679.29
128,.916.52
$
750.00
12,097.50
105,869.32
8,045.95
Miscellaneous receivable
$
10.118.14
8,069,650.32
6.356.38
.$ 154,217.91
10.18
$ 88.20
50.00
$ 794.64
$
750.00
$1,032,514.34
$ -
$
3.701.58
6,832,707.04
$ 32,745.97
$15,.832.22
$ -.
Less allowance for delinquent taxes
:639,394.28
18.945.01
$ 135,272.90
78.02
$ 10.18
744.64
$ 50.00
$
750.00.
38.431.84
$ 994,082.50
$ -
$
581.194.77
6,251,512.27
$ 32,745.97
$15,.832.22
$ -
$
7,430,256.04
9,322.14
251,865.62
Inventories
271,187.76
10,000.00
23,386.00
278.33
525.85
Prepaid expense
24,190.18
Segregated cash for reserve for
47,701.25
debt retirement
47,701.25
3,812,477.53
Construction in progress
Fixed assets
3,812,477.53
5,905,656.36
1,191,826.53
290,361.29.
188,304.61
774,598.56
3,354,385.37
16,036.99
90,143.01
Unallocated construction cost
83.503.95
.
83.503 .' ti
$20,019,705.98
$1,578,583.86
$16,460.96
$337,707.02
$195,350.20
$1,033,105.16
$837,550.97
$12,075,303.94
$3,474,102.14
$46,269.47
$425,272.26
( ) Indicates deduction.
-9-
FUND BALANCE SHEETS (Cont'd)
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 zmprest' cash
For debt service
For improvements
Unappropriated (deficit)
-10-
F' u
n d s
Swimming
Park
Sewer
Liquor
Total
General
Poor
Park
Pool
Park Sinking
Construction
Improvement
Waterworks
Rental
Dispensary
255,679.29
81045.95
750.00
$ 12,097.50
196,924.69
37,751.46
58.25
51.44
192,286.75
80,497.97
344.88
2,156.81
.156.55
$ 32,576.79
1,851.65
37,655.65
24,571.10
12,475.35
:11,180.50
4,389.60
3,135.05
792.93
-507.01
2,355.91
176.89
176.89
10,153.80
10,153.80
111,121.38
25,325.00
80,834.71
4,961.67
344,705.78
29412.40
342,293.38
16,530.27
16,530.27
788,653.02
788,653.02
8,835.65
8,835.65
16,544.25
16,544.25
289,400.00
289,400.00
11;059,000.00
6759000.00
9,885,000.00
499,000.00
102,374.37
102,374.37
57,877.59
30,375.62
27,501.97
5,369,656.36
1,191,826.53
290,361.29
188,304.61
774,598.56
2,818085.37
16,036.99
90,143.01
500.00
500.00
67,172.50
67,172.50
78,860.00
.78,860.00
1.238.997.58
195.521.14
16.116.08
24.759.62
(" 5.208.46)
43.380.16
630.703.81
8,382.56
5.096.12
320.246.55
$20,019,705.98
$1,578,583.86
$16;460.96
$337,707.02
$195,350.20
$1,033,105.16
$837,550.97
$12,075,303.94
$3,474,102.14"
$46,269.47
$425,272.26
-10-
LIABILITIES AND SURPLUS
Due to Waterworks Fund
Accounts payable:
Trade accounts
Accrued payroll
Edina Firemen's Relief Association .
Sundry deposits
Appropriated surplus:.
Invested in fixed assets
Contributed - invested in fixed assets
Reserve for commitments
Reserve for 'improvements
For imprest-1 cash'
Surplus - 'unappropriated
8,045.95
$ 80,497.97
4,389.60
16, 530. -27
2.412.40 103,,830.24
$1,121,753.87
70.072.66 $1,191,826.53
11,602.00
67,258.00
500.00 1,271,186.53
195.521.14
$1,578,583.86
-11-
GENERAL FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1961
ASSETS
Cash:
Demand deposits
_80,984.43
Time deposits
160.000.00
.240,984.43
Working funds
500.00
241,484.43
Receivables:
Due from other funds:
Construction Fund
28,055.37
Sewer Rental Fund
58.25
Liquor Dispensary Fund
51.44
Waterworks Fund
751.46
28,916.52
Accounts receivable
6.356.38
35,272.90
Supply inventory - estimated
10,000.00
Advance to Construction Fund
100,000.00
Taxes receivable - delinquent
18,945.01.
Less allowance for delinquent taxes
18.945.01
-
Fixed assets
1.191.826.53
$1,578.083.86
LIABILITIES AND SURPLUS
Due to Waterworks Fund
Accounts payable:
Trade accounts
Accrued payroll
Edina Firemen's Relief Association .
Sundry deposits
Appropriated surplus:.
Invested in fixed assets
Contributed - invested in fixed assets
Reserve for commitments
Reserve for 'improvements
For imprest-1 cash'
Surplus - 'unappropriated
8,045.95
$ 80,497.97
4,389.60
16, 530. -27
2.412.40 103,,830.24
$1,121,753.87
70.072.66 $1,191,826.53
11,602.00
67,258.00
500.00 1,271,186.53
195.521.14
$1,578,583.86
-11-
L
GENERAL FUND
Imprest
STATEMENT OF SURPLUS
For
VILLAGE OF EDINA
Cash
Year Ended December 31,
1961
$1,086,901.18 $70,072.66
Total
APPROPRIATED
-
Balance at January 1, 1961
$1,168,083.59
Additions (deductions):
Transfers from unappropriated surplus:
For fixed asset's - net
48,912.59
Fixed assets retired
(' 14,059.90)
For commitments
892.25
For improvements
67,258.00
For imprest cash.
100.00
Balance at December 31, 1961
41,271,186.53
UNAPPROPRIATED
Balance at January 1, 1961
$500.00
Additions:
$ 67,258.00
Revenue - -.see separate schedule
Less expenditures see separate schedule
$112,124.52
Deductions:
General.Fund share of construction costs
Transfer to reserve for imprest cash
Transfer to reserve for improvements
185.970.35
For
Invested in
Imprest
For
For
Fixed Assets Contributed
Cash
Commitments
Improvements
$1,086,901.18 $70,072.66
$400.00
$ 10,709.75
-
48,912.59
{ 14,059,90)
.892.25
67,258.00
100.00
$1,121,753.87 $70,072.66
$500.00
$ 11,602.00
$ 67,258.00
$112,124.52
$1,191,807.79
1.005.837.44
185.970.35
.$298,094.87
35.215.73
.$262,879.14
$ 100.00
674258.00
67.358.00
Balance at
December 31, 1961
$195,521.14
-12-
GENERAL FUND
ANALYSIS "OF CHANGE IN CASH BALANCE
VI LLAGE 'OF IDINA
Year Ended December 31,.1961
Balance at January 1, 1961
Additions:
Receipts - per separate schedule
Collections of amounts due others:
Waterworks Fund $ 8,045.95
Edina Firemen's Relief Association 16.530.27
Collection made on accruals at
December 31, 1960
Deductions:
Disbursements - per-- ,separate schedule
Charges to accounts receivable and other funds
Payment on accruals at December 31, 1960:
Trade accounts $ 14,363.96
$ 9,951.04
$1,170,945.61 .
24,576.22
88.634.59 1,284,156.42
$1,294,107.46
$ 917,067.28
15,071.09
Accrued payroll 3016.46
Edina Firemen's Relief Association 13,646.76
Due to other funds 53,755.25 85,282.43
Increase in petty cash 100.00
Decrease in sundry deposits 386.50
Village share of construction costs
charged directly to surplus 35,215.73 1,053,123:03
Balance at December 31, 1961 $ 240,984.43
Summary:
Demand deposits $ 80,984.43
Time deposits 160,000.00
TOTAL $240,984.43
-13-
Real and personal
property taxes
Other taxes
Bicycle licenses
Beer and liquor licenses
Cigarette licenses
Dog and impounding fees
Food and soft drinks
Gas pump licenses
Bowling, taxi, pinball,
milk plant, etc.
Plumbing licenses
Scavenger and garbage
collectors
Building permits
Cesspool and sewer permit
Plumbing permits
Sign permits
Street opening fees
Electrical permits
Engineering, clerical,
searches
Police and fire service
Equipment rental
Municipal court fines
Income on.'investments
Board and room of
prisoners
State apportionments -
highway
State apportionments
liquor and cigarettes
Contributions from
active funds
Charges to other funds
Sale of fixed assets
Discount earned
Planning fees
Other revenue
Transfers - reserve for
encumbrances
TOTAL
(`) ..Indicates red rfigu're.
GENERAL. FUND
REVENUE
VILLAGE OF EDINA
Year Ended December 31, 1961
31,170.00
75,541.71
84,993.00
9,000.00
20.00
1,035.47 80.92
1,649.00
31,170.00 27,000.00 4,170.00
75,541.71
84,993.00
9,000.00
20.00
1,116.39
1,649.00
21,000.00
84,993.00
9,000.00
100.00
54,541.71
80.00#
1,116.39
1,649.00
2,020.94 2,342.70 4,363.64 4,000.00 '363.64
3,209.75 3,209.75 3,209.75 -
$1,170,945..61 $ 20,862.18 $1,191,807.79 $1,068,366.75 $123,441.04
-14-
Actual
Revenue
Over- Under*
Estimated
Estimated
Receipts
Accruals
Revenue
Revenue
Revenue
664,440.46
664,440.46
657,959.00
6,481.46
26,261.54
26,261.54
14,000.00
12,261.54
3,366.75
3,366.75
2,000.00
1,366.75
1,355.00
1,355.00
1,370.00
15.00#
627.00
627.00
720.00
93.00#
5,188.00 $
120.50
5,308.50
3,500.00
1,808.50
2,081.00
2,081.00
1,900.00
181.00
755.00
755.00
670.00
85.00
4,766.00
4,766.00
2,155.00
2,611.00
2,750.00
2,750.00
2,250.00
500.00
600.00
600.00•
190.00
410.00
17,609.25(
150.00)
17,459.25
18,000.00
540.75#
3,839.00
3,839.00
3,500.00
339.00
7,390.50
7,390.50
8,000.00
609.50#
3,255.93
3,255.93
3,200.00
55.93
692.00
692.00
300.00
392.00
7,5.00.00
7,500.00#
152,927.88
10,404.51
163,332.39
139,600.00
23,732.39
5,000.00
5,000.00
5,000.00
-
2,443.50
4,141.80
6,585.30
2,000.00
.4,585.30
60,828.62
60,828.62
45,000.00
15,828.62
50.06
50.06
50.06
250.00
250.00#
31,170.00
75,541.71
84,993.00
9,000.00
20.00
1,035.47 80.92
1,649.00
31,170.00 27,000.00 4,170.00
75,541.71
84,993.00
9,000.00
20.00
1,116.39
1,649.00
21,000.00
84,993.00
9,000.00
100.00
54,541.71
80.00#
1,116.39
1,649.00
2,020.94 2,342.70 4,363.64 4,000.00 '363.64
3,209.75 3,209.75 3,209.75 -
$1,170,945..61 $ 20,862.18 $1,191,807.79 $1,068,366.75 $123,441.04
-14-
GENERAL FUND
EXPENDITURES
VILLAGE OF EDINA
Year Ended December 31, 1961
Municipal court:
Disburse-
Encum-
Expendi-
16,778.60
Appropri-
Unexpended
Contractual services
ments,
brances
6,400.00
titjros_• _
437.79
ations
500.00
Balance
GENERAL GOVERNMENT
4.524.00
4,524.00 _
TOTAL MUNICIPAL COURT
27,824.30 $
291.69 28,115.99
.29,554.00
3,134.75
and Council
9,640:95
81.25
9,640.95
12.300.00
9,730.00
89.05
.Mayor
.Planning
11,908.91
24.00
-
11,932.91,
$116,071.35
12,312.00
146.17
379.09
Administration:
$
117,367. -00
$
1,149.48
PUBLIC WORKS
Personal services
37,967.54
37,967.54
38,664.00
696.46
Contractual services
6,304.77
138.67
6,443.44
6,687.00
overhead:
243.56
Commodities
94.81
94.81
230.00
135.19
Fixed charges
8.076.00
8,076.00
8,076.00
$
-
TOTAL ADMINISTRATION
$ 52,443..12
$ 138.67
$
52,581.79
21.70
53,657.00
672.41
1,075.21
Finance:
Personal services
$ 25,800.75
15.59
$
25,800.75
$
25,840.00
• 39.25
Contractual services
2,452.53
2,452.53
2,533.00
80.47
Commodities
18.70'
AND OVERHEAD
$ 43,061.78
18.70.
886.82
50.00
43,948.60
31.30
Fixed charges
4,824.00
79.40
4.824.00
4,824.00
-
TOTAL FINANCE
33,095.98
-
$
33,095.98
$
33,247.00
151.02
Municipal court:
$ 93,055.19
Personal services
16,778.60
16,778.60
18,130.00
Contractual services
6,083.91 $
291.69 6,375.60
6,400.00
Commodities
437.79
437.79
500.00
Fixed charges
4,524.00
4.524.00
4,524.00 _
TOTAL MUNICIPAL COURT
27,824.30 $
291.69 28,115.99
.29,554.00
Elections
Assessing:
Personal services
Contractual services
Commodities
Fixed charges
TOTAL ASSESSING
Legal services
Library
TOTAL GENERAL GOVERNMENT
1,679.20
1,679.20 1,815.00
1,351.40
24.40
62.21
1,438.01
135.80
$ 30,955.49 30,955.49 31,000.00 44.51
2,198.34 40.07 29238.41 2,294.00 55.59
334.44 .85 335.29 405.00 69.71
4,140.00 4,140.00 4.140.00 -
$ 37,628.27 40.92 $ 37,669.19 $ 37,839.00 169.81
19,141.15 6,833.94 25,975.09 25,870.00 105.09#
3,543.55 192.77 3,736.32 3,753.00 16.68
$196,905:43 $ 7,521.99 $ 204,427.42 $ 207,777.00 $ 3,349.58
ENGINEERING
Personal services
$ 93,055.19
$
939055.19
$
93,980.00
$
924.81
Contractual services
7,697.67
$
29.91
7,727.58
7,871.00
143.42
Commodities
3,018.49
116.26
3,134.75
3,216.00
81.25
Fixed charges
12.300.00
12,300.00
12,300.00
-
TOTAL ENGINEERING
$116,071.35
$
146.17
$
116,217.52
$
117,367. -00
$
1,149.48
PUBLIC WORKS
Administration and
overhead:
Supervision and
clerical
$ 30,920.41
$
30,920.41
$
30,950,00
$
29.59
Training
650.71
$
21.70
672.41
688.00
15.59
Paid leave
11.490.66
865.12
12,355.78
12,390.00
34.22
TOTAL ADMINISTRATION
AND OVERHEAD
$ 43,061.78
$
886.82
$
43,948.60
$
44,028.00
$
79.40
- -15-
PUBLIC WORKS (Cont'd)
Street maintenance:
General
Patching
Street cleaning
Sealing
Curb repair
Snow and ice removal
TOTAL STREET MAINTENANCE
Street lighting
Street name signs:
General
New sign installation
TOTAL STREET NAME SIGNS
GENERAL FUND
EXPENDITURES (Cont'd)
Disburse Encum- Expendi- Appropri- Unexpended
ments brances tures ations Balance
48,978.12 2,592.27 51,570.39 $ 51,620.00 49.61
31,989.25 2,274.94 34,264.19 34,300.00 35.81
14,819.59 -45.56 14,865.15 14,910.00 44.85
34,011.80 720.00 34,731.80 34,758.00 26.20
1,778.28 1,778.28 1,800.00 21.72
24.551.96 2.550.43 27.102.39 27.110.00 7.61
$156,129.00 $ 8,183.20 $ 164,312.20 $ 164,498.00 $ 185.80
35,071.81 35,071.81 35,165.00 93.19
$ 5,064.79 $ 122.46 $ 5,187.25 $ 5,200.00 $ 12.75
163.27. 163.27 185.00 21.73
$ 5,- 228.06 $ 122.46 $- 5,350.52 $ 5,385.00 $ 34.48
Traffic control:
Sign maintenance
5,305.52
$
249.85 $
5,555.37
$
5,565.00
3,249.83
9.63
Signal maintenance
4,196.40
144.80
208.63
4,445.03
4.36
4,410.00
670.25 $
4.97
Pavement marking
Guard rail maintenance
3,124.55
4,291.91
3,124.55
9.42 4.301.33
3,130.00
4.310.00
5.45
8.67
TOTAL TRAFFIC CONTROL
16,918.38
$'
467.90 $
17,386.28
$
17,415.00
28.72
Bridges:
General maintenance
$ 519.50
$
519.50
$
525.00
$
5.50
Repair program
191.68
191.68
200.00
8.32
TOTAL BRIDGES
$ 711.18
$
- $
711.18
$
725.00
$
13.82
Storm.drainage:
Storm sewers
$ 5,018.86
$
5,018.86
$
5,065.00
$
46.14
Temporary
1,753.17
1,753.17
1,800.00
46.83
Pumping
985.85
985.85
1,000.00
14.15
Storm sewer replacements.
540.00
$ 8,297:88
$
- $
540.00
8,297.88
$
600.00
8,465.00
$
60.00
167.12
TOTAL STORM DRAINAGE
Village properties:
Turf care
$ 4,880.21
$
4,880.21
$
5,000.00
$
119.79
Plantings
483.18
483.18
500.00
16.82
Tree trimming
2,577.70
2,577.70
2,650.00
72.30
Tree spraying
1.863.43
1.863.43
2.040.00
176.57
TOTAL VILLAGE PROPERTIES
$ 9,804.52
$
- $
9,804.52
$
10,190.00
$
385.48
Noxious weed control
1.258.76
1.258.76
1.405.00
146.24
TOTAL PUBLIC WORKS
$276,481.37
$
9,660.38 $
.286,141.75
$
287,276.00
$
1,134.25
PROTECTION OF PERSONS
AND PROPERTY
Police protection:
Personal services
Contractual services
Commodities
Fixed charges
TOTAL POLICE PROTECTION
$152,953.69 $
405.80 $
153,359.49 $
153,621.00 $
261.51
3,130.18
119.65
3,249.83
3,400.30
150.47
1,727.84
144.80
1,872.64
1,877.00
4.36
29.520.00
$187,331.71 $
670.25 $
29.520.00
188,001.96 $
29.520100
188,418.30 $
-
416.34
-16-
PROTECTION OF PERSONS
AND PROPERTY (Contod)
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
GENERAL FUND
EXPENDITURES (Cont'd)
Disburse-
Encum-
Expendi-
Appropri-
Unexpended
ments
brances
tures
ations
Balance
$ 75,558.53
$ 75,558.53
$ 75,876.00
317.47
2,292.17
$ 38.79
2,330.96
2,412.45
81.49
1,437.28
52.39
1,489.67.
1,504.00
14:33
12.120.00
12,120,00
12,120.00
-
$ 91,407.98
$ 91.18
$ 91,499.16
$ 91,912.45
$ 413.29
1,383.85
198.25
1,582.10
2.,030.00
447.90
5,493.09
28.83
5,521.92
5,547.00
25.08
4,249.50
425.00
4,674.50
4,550,00
_ 124.50#
24.326.28
24.326.28
24,642.00
315.72
$314,192.41 $ 1,413.51 $ 315,605.92 $ 317,099.75 $ 1,493.83
$ 1,563.13 $ 90.32 $ 1,653.45 $ 2,458.00 $ 804.55
100.00 100.00
16,200.36 16,200.36 16,300.00 99.64
$ 17,763.49 $ 90,32 $ 17,853.81 $. 18,858.00 $ 1,004,19
CENTRAL SERVICES
See separate schedule
attached 39.292.72 59.239.75 19,947.03 20,070.00. 122.97
TOTAL OPERATING'EXPENSES $882,121.33 $78,072.12 $ 960,193.45 $ 968,447.75 $ 8,254.30
CAPITAL OUTLAY
Planning
Administration
Municipal court
Engineering
Public works
Police
Fire
Special assessments on
Village property
Unallocated capital
outlay
Capital improvements
Village Hall
TOTAL CAPITAL OUTLAY
RESERVE FOR COMMITMENTS
Planning
Police
Fire
Village Hall
TOTAL RESERVE FOR
COMMITMENTS
TOTAL
Indicates red figure.
$ 320.60 $ 320.60 $ 350,00 $ 29.40
$ '446.70 446.70 800.00 353.30
100.06 100.06 200.00 99.94
2,510.75 2,510.75 2,547.00 36.25
22,012.80 639.00 22,651.80 25,815.00 3,163.20
4,383.39 .5,616.44 9,999.83 10,020.00 20.17
551.76 551.76 628.00 76.24
1,079.46 1,079.46 1,100.00 20.54
2,372.27 2,372.27 2,654.00 281.73
50,000.00 50,000.00
1,488.76 20.00 1,508.76 1,530,00 21.24
$ 34,945.95 $ 6,596.04 $ 41,541.99 $ 95,644.00 $54,102.01
$ 2,500.00 $ 2,500,00 $ 2,600.00 $ 100.00
34.00 34.00 75.00 41.00
68.00 68.00 100.00 32.00
1,500.00 1,500.00 1,500,00 -
$ - 4.102.00 $ 4.102.00 $ 4,275.00 $ 173.00
$917,067.28 $88,770.16 $1,005,837.44 $1,068,366.75 $62,529.31
----- - - - - -- ---- - - - - -- ----- - - - - -- -17-
GENERAL FUND
CENTRAL SERVICES
VILLAGE OF FDINA
Year Ended December 31, 11961
TOTAL $ 39,292.72* $59,239.75 $ 19,947.03 $ 20,070..00 $ 122.97
* Indicates red figure.
a.
Disburse-
Encum-
Expendi-
Appropri -
Unexpended
ments
brances
tures
ations
Balance
General:
Contractual services
$ 27,474.47
$5491124.66
$.81,599.13
$ 78,570.00
$3,029.13#
Commodities
6,260.56
139.30
6,399.86
6.400.00
.14
TOTAL GENERAL
$ 33,735.03
454,263.96
$ 87,998.99
$ 84,970.00
$3,028.99#
Village Hall:
Personal services
$ 5,986.64
$ 2.60
$ 5,989:24
$ 6,200.00
$ 210.76
Contractual services
6,852.80
652.20
7,505.00
7,750.00
245.00
Commodities
1,967.04
2.13
1,969.17
2,478.00
508.83
Fixed charges
480.00
480.00
480.00
-
TOTAL VILLAGE HALL
$ 15,286.48
$ 656.93
$ 15,943.41
$ 16,908.00
$ 964.59
Garage
4,197.17
548.20
4,745.37
5,208.00
462.63
Equipment operation:
Personal services
$ 21,896.62
$ 698.45
$ 22,595.07
$ 22,768.00
$ 172.93
Contractual services
8,997.33
702.30
9,699.63
. 10,000.00
300.37
Commodities.
4,782.92
123.61
4,906.53
5,000.00
93.47
Fixed charges
3,504.00
39504.00
3,504.00
-
Gasoline and fuel oil
13,146.07
1,051.59
14,197.66
14,300.00
102.34
Tires and tubes
5,048.33
5,048.33
5,160.00
111.67
Lubricants
1,483.87
176.16
1,660.03
1,996.00
335.97
Parts and accessories
20,433.46
1,018.55
21,452.01
22,060.00
60749
TOTAL EQUIPMENT OPERATIONS
79,292.60
$ 3,770.66
$ 83.063.26
9 84,788''00
$1,724.74
$132,511.28
$59,239.75''$191,751.03
$191,874.00
$ 122.97
Less allocation to other
departments and funds
171.804.00
171.804.00
171,804.00'
-
TOTAL $ 39,292.72* $59,239.75 $ 19,947.03 $ 20,070..00 $ 122.97
* Indicates red figure.
a.
Land
Land improvements
Buildings
Furniture and fixtures
Equipment:
Highway
Police.
Fire
Election
Engineering
Traffic signals
Executive
Miscellaneous
GENERAL FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December 31, 1961
Balance
Balance
January 1,
December 31,
1961
Additions
Deductions 1961
128;805.66
$ 128,805.66
92,279.45
$ 2,276.08
94,555.53
361,197.27
1,662.99
362,860.26
43,938..92
1,536..11
45,475:03
249,056..28
23-,787.22
2729843.50
26,457:31
.17,047.43
$14,059.90 29,444:84
74,750.29
317.76
75,068.05
80,017.93
80,017.93.
18,847.18
2,165.,.00
21,012.18
53,646.68
53,646.68
1,834.15
1,834..1.5
26.142.72
120.00
26:262.72
TOTAL $1,156,973.84 $48,912.59 $14,059.90 $1.,191,826.53
-19 -.
POOR .FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1961
ASSETS
Cash on deposit
Investments:
Village of Edina - 2.7% Improvement Bonds
of 1958 at face value
Village of Edina - 2..3% Waterworks Revenue
Bonds of 1955 at face value
Village of Edina - 2.5% Waterworks.Revenue
Bonds of 1955 at face value
Receivables:
Relief grant - S.tate of Minnesota
Delinquent taxes
Less allowance for delinquent taxes
LIABILITIES AND SURPLUS_
Accounts payable
Surplus - unappropriated
$ 1,450.78
$5,000.00
6,000.00
4,000.00 15,000.00
$ .10.18
$78.02
78.02 10.-18
$16,460.96
$ 344.88
16,11.6.08
$16,460.96
-20-
Balance at January 1, 1961
Deductions:
Net loss for year
POOR FUND
STATEMENT OF SURPLUS - UNAPPROPRIATED
VILLAGE OF EDINA
Year.Ended December 31, 1961
Balance at December 31, 1961
STATEMENT OF REVENUES AND EXPENDITURES
$18,320.11
2,204.03
$16,,116.08
-21-
Increase
1961
1960
Decrease*.
Revenue receipts and accrua -1s:
Tax settlements
$ 7,722.25
$79823.99
$ 101.74#
Relief grants - State of Minnesota
52.27
73.54.
21.27#
Income on investments
372.43
316.85
55.58
Reimbursement - direct relief
225.65
-
225.65
8,312.60
,214.381
158.22
Disbursements and accruals:
Suburban Hennepin County Relief Board:
Relief orders
$ 2,839.67
- $3,041.52
$ 201.85#
Administration
531.21
528.92
2.29
Rural Hennepin County Nursing Committee
7,089.75
4,579.68
2,510.07
Professional services
100.00
100.00
-
Other
16.00
-
16.00
$10,5767T3
,250.12
2,326.51 .
NET LOSS
$ 2,204.03
$ . 35.74.
$.2,168.29
-21-
POOR FUND "
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31; 1961
Balance at.January 1, 1961
"$11,927:35
Additions:
Tax settlements received:
March 1961
$ 760.3'7
June 1961
3,572.63
November 1961
3,059.25
.$7,722.25
Relief grants - State of Minnesota
52.27
Income on investments
372.43
Reimbursement• - direct relief
225.65.
Decrease in accounts "receivable..
•
14.52
5 357.42
20,314.77
Deductions:
Payment to Suburban Hennepin County,,,
Relief Board:
Relief orders
$2,539.67
Administration
531.21
$3,370.55
Rural Hennepin. County Nursing Committee
7,059.75
Professional services
100.00
Purchase of investments
6,000.00
Decrease in accounts payable
2,257.36
Other
16.00
15,563.99
._Balance at December
31,•1961,
$ 1,450.75
-22-
PARK FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1961
ASSETS
Cash:
Demand deposits
Time deposits
Receivables:
Taxes receivable — delinquent
Less allowance for delinquent taxes
Other
Fixed assets
LIABILITIES AND SURPLUS
Payables:
Trade accounts
Salaries and wages
Due to other funds
Unexpended contributions for specific purposes:
Landscaping b -uffer strip west of library
Cascade pumping
Dwight Williams Memorial Park
Wooddale Park — improvements and
recreation program
.Cornelia Lake Park_ improvement
Normandale 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
295.73 -
47,000.00 $ 47,295.73
$ 744.64
744.64 $ -
50.00 50.00
290,361.29
$337,707.02
$ 2,156.81"
3,135.05
.750.00
$ 207.53
723.97
58.95
1,809.26
150.00
96.00 .
112.32
6,185.00
2,200.00
"3,400.00
500.00
1,101.22 $ 16,544.25
$152,511.26
$127,511.37
10,338.66 137,850.03
22,586.11
290,361.29
24,759.62
$337,707.02
-23-
PARK FUND
STATEMENT OF UNAPPROPRIATED SURPLUS
VILLAGE OF EDINA
Yea r. Ended December 31, 1961
Balance at January 1, 1961
Additions:
Revenue for year (see separate schedule for details)
Less amount transferred to revenue included
in the above
$ 18,861.41
$123,166.16
7,622.00 115 544.16
134,405.57
Deductions:
Expenditures for year :('see separate- schedule'fctr.'.detail�) 109,645.95
Balance at December 31, 1961 $ 24,759.62
ANALYSIS OF SURPLUS INVESTED IN FIXED ASSETS
Contributed
By General -
Fund Direct
by Payment Investment
of.Special in Fixed
Combined Assessments py Others Assets
Balance at January 1, 1961 $271;948:05 -0111,311.01 $ 10,338.66 $150,298.38
Additions for the year:.
Special assessments paid
by General Fund
From unappropriated surplus
Balance at' Decembei.31, 1961
16,200.36 16,200.36
2,212.88 2,.212.88
$290,361:.29 $127,511.37 $ 10,338.66 $152,511.26.
-24-
PARK FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1961
Balance at January 1, 1961
Additions:
Revenue for year �(s,ee separate schedule for details) $123,166.16
Less amount transferred from surplus included
in above 7,622.00
115,544.1
Registration fees — figure skating and skiing 761.00
Dedicated funds:
Nprmandale Community Council $ 96.00
Various organizations for improvements
for Wooddale Park 1,234.26
Haverly Construction Company 300.00
Ralph E. Overholt 350.00
E. V. Garrison: 250.00 2,230.26
Sale of investments 12,000.00
Increase in accruals:
Balance at December 31, 1961:.
$ 359044.39'
Trade accounts
$2,156.51
Salaries and wages
3,_135.05
Due to other funds
750.00 $6,041.56
Balance at January-1, 1961:.
Trade accounts
$1,537.79
Salaries and wages
2,425.42
Due to other funds
750.00 5,013.21
1,025.65
131,564.07
$169,608-46
Deductions:
Expenditures for year (see separate
schedules for details)
$109,645.95
Payment from dedicated fund — figure
skating and skiing
616.75
Purchase of investments
12,000.00
Increase.'in accounts receivable
50.00
122,312.73
Balance,,-at December
31, 1961
47,295.73
Summary:
Demand deposits
$ 295.73
Time deposits
47,000.00
TOTAL
$47,295.73
—25—
PARK ,FUND
REVENUE AND. EXPENDITURES
VILLAGE OF EDINA
Year Ended December,31; 1961
REVENUE
Real and personal property taxes
Registration fees
Transfer from active funds
Contribution from other sources
Income on investments
Transfer from unappropriated
surplus
Other revenue
TOTAL REVENUE
EXPENDITURES
:Administration:
Personal services
Contractual services
Commodities
Central services
Capital outlay
.Training
Paid leave
TOTAL ADMINISTRATION
Recreation:
Baseball and softball
Skating and hockey
Tennis instruction
Playgrounds
Swimming instruction
Special activities
TOTAL RECREATION
Maintenance:
Mowing
Special turf care
Planting and trees
Litter removal
Parking areas
Building and equipment
Skating rinks
TOTAL MAINTENANCE
TOTAL. EXPENDITURES
( ) Indicates deduction.
4115,491.99 $7,675.07 $123,166.16 $121,049.00 $ 2,117.16
Encum-
Disbursements brances Expenditures
Appropri - Unexpended
ations Balance
$ 18,030.00
$ 18,030.00 $
18,100.00
Actual
1,046.28 $
3.60 1,049.88
1,085.00
Revenue
161 :47
161 :47
200.00
Over - Under*
6,840.00
6,840.00
Estimate
Estimated
Receipts Accruals
Revenue
Revenue
Revenue
80.59
10.75 x.91:34
$ 54,732.36
$ 54,732.36
$ 54,000.00
732.36
18,928.25
18,928;25
18,970.00
41.75#
40,007.00
40,007.00
40,007.00
-
300.00
300.00"
30.00
30.00
$ 95.30
30.00
$7,622.00
7,622.00
7,622.00
-
1,793.48 53.07
1,8.6.55
150.00
1,696.55
4115,491.99 $7,675.07 $123,166.16 $121,049.00 $ 2,117.16
Encum-
Disbursements brances Expenditures
Appropri - Unexpended
ations Balance
$ 18,030.00
$ 18,030.00 $
18,100.00
$ 70.00
1,046.28 $
3.60 1,049.88
1,085.00
35.12
161 :47
161 :47
200.00
38.53
6,840.00
6,840.00
6,840.00
-
7,644.86
7,295.03
10,300.00
,3,004.97
80.59
10.75 x.91:34
200.00
- 108.66
3,301.82( 349.83) 3 301.82 3J53-00 451.18
37,105.02( 335:48 )$ 36,769-54 40,478.00 3,708.4
$ 3,123.47
$ - 3,123.-47
$ 3,195.00
$ 71.53
2,329.27
$1,412.84
3,742.11
5,336.00
1,593.89
841.30
841.30
875.00
33.70
9,663.04,
121.80
99784.84
10,350.00
565.16
12,246.78
750.00
12,996.78
14,875.00
1,878.22
30,857.20
2,284. 4
33,1 0 41.84
37,831.00
66
4,589:
$ 4,704.70
$ 4,704.70
$ 4,800.00
$ 95.30
6,033.18
$ .270.00
6,303.18
6,420.00
116.82
1,386.92
1,386.92
2,340.00
953.08
11922.89
1,922.89
3,060.00
1,137.11
2,830.91
2,830.91
37,310.00
479.09
6,279.57
1,016.11
7,295.68
7,410.00
114.32
14 202.84
37,3 1.01
1 087.45
15 290.29
.6 39,734.57
15 400.00
42,740.00
109.71
3,005.43
$105,323.23 $4,322.72 $109,645.95 $121,049.00 $11,403.05
,26-
PARK FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December 31,"1'961
-27-
Balance
Balance
January
December
1, 1961
Additions
Deductions
31, 1961
Land
90,806.64
90,806.04
Skating rinks
49682.03
4,682.03
Land improvements
128,431.46
$16,200.36
144,631.82
Building
3,418.0.6
3,418.06
Park equipment
239853.65
3,384.57
27,238.22
Furniture and fixtures
988.29
988.29
Trucks and automobile:
12,554.61
3,77.4.51
$5,082.15.
11,216.97
Miscellaneous
710.12
165.95
$76.07
265,444.8
23,495.39
T5,082.15
T283,858.10
Construction in progress:
52nd and Arden
131.26
131.26
50th and Wooddale
29324.85
2,324.85
East Mirror,Lakes
39785.72
3,785.72
57th and Chowen
261.36
261.36
TOTAL $271,948.05
z3,�495.39
5,.082.15
$290,361.29:
-27-
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 by surplus
Donated
Unappropriated surplus (deficit)
SWIMMING POOL FUND
BALANCE SHEET
VILLAGE OF'EDINA
December 31, 1961
$ 6,295.59
750.00
10,000.00
$183,792.03
17,000.00
3,637-01
204,429.04
26,124.43 178,304.61 188,304.61
$195,350.20
$ 156.55
12,097.50 $ 12,254.05
$184,469.62
3,784.99
50.00 188,304.61
( 5208.46)
$1959350.20
_28_
SWIMMING POOL FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year Ended December 31, 1961
Balance at January 1, 1961
Transfers and deductions:
Net Loss for year
Less interest provided for at
December 31, 19611 included
in operations
Fixed assets purchased
Provision for depreciation
Allocated to Sinking -Fund
for bond retirement
Balance at December-31,'1961
*Indicates red figure.
Invested in Fixed Assets
Unappro— . From From
Total priated , Donated Surplus Bonds Funds
$190,.593.04 $ 5,122.29# $50.00 $4,139.15' $191,526.18
$ 3,149.89* $ 3,149.89#
7,750-50 7 750.50
4,600.61 4,600.61 6 —
170.14* 170.14
7,580.86 524.30* 7,056.56*
12,097.50* 12,097.50*
$183,096.15 $'.5,208.46* $50.00 $3,784.99 $184,469:62
—29—
SWInMiIING POOL FUND
ANALYSIS OF CHANGE IN CASH'BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1961
Balance at January 1, 1961
Additions:
Pool fees
Concession income (.see separate schedule)
Add depreciation included therein
Payment received on accruals at December 31, 1960
Other
Deductions:
Operating expense (see separate schedule) $30,158.16
Less accounts payable at December 31, 1961 156.55
30,001.61
Payment made on accruals.at_December 31, 1960 12,544.19
Purchase of fixed assets 170.14
$ 6,671.90
$38,468.54
$2,705.64
340.24 3,045.88
750.00
75:'21 42 339.63
49,011.53
Balance at December 31, 1961
42,715.94
$ 6,295.59
I-
-30—
SWIMMING POOL FUND
STATEMENT OF INCOME AND EXPENSE
VILLAGE OF EDINA
Year Ended December 31, 1961
Revenue:
Pool fees:
Season,,tickets,
$28,629.00
General admissions
9,839.54
Rental- instruction program
Other
Operating expenses:
Salaries and wages:
.Supervision
$3,546.29
Life guards
9,316.49
Cashiers
1,108.58
Basket room attendants
3,156.61
Watchmens
811.25
Maintenance
2,519.76
$20,458.98
Gas
1,044.17
Light and power
1,896.64.
Water and sewer
249.60
Telephone
90.37
Water treatment
1,985.38
Cleaning supplies
514.09
General supplies
463.99
Printing and office supplies
236.31
Repairs and maintenance.
841.14
Central services
780.00
Laundry
65.12
Insurance
1,532.37
INCOME BEFORE PROVISION FOR DEPRECIATION AND
DEBT,SERVICE
CHARGES
Provision for depreciation
INCOME BEFORE
DEBT SERVICE
CHARGES
Debt service
NET LOSS FROM OPERATION OF SWIMMING
POOL
Income from concessions - see separate schedule
NET LOSS FROM OPERATIONS
038,468.54
750.00
75.21
$39,293.75
30,158.16
9,135.59
7 240.62
1,894.97
7,750-50
5,855.53
2;705.64
$ 3,149.89
-31-
SWIMMING POOL FUND
STATEMENT.OF INCOME AND EXPENSE (CONCESSIONS ONLY)
VILLAGE OF EDINA
Year Ended December 31, 1961
Soft drinks
Soft ice cream
Pop corn
Hot dogs.
Other sandwiches
Cupcakes
Operating expenses:
Salaries and wages:
Manager
Clerks
Equipment rental
Repairs and maintenance
General.supplies
Provision for depreciation
-32—
Gross Profit
Cost of
Per Cent
Sales
Sales
Amount
to:)Sales
$1,514.20
$ 868.91-
$ 645.29
42.62%
3,548.60
1,395.14
2,153.46
60.68
2,096.28
402.73
1,693.55
80.79
1,062.32
667.10
395.22
37.20
407.69
284.00
123.69
30.34
947.10
595..07
352.03
37.17
$9,576.19
$4,212.95
$5,363.24
56.01%
$ 827.75
1,328.81
$2,156.56
77.78
47.60
35,42
340.24
2,657.60
NET
INCOME
$2,705.64
-32—
-33
SWIMMING POOL FUND
FIXED 'ASSETS
VILLAGE OF EDINA
Year Ended December 31,
1961
Balance
Balance
January
December
ASSETS
1, 1961
Additions
31, 1961
Land
10,000.00
109000.00
Swimming pool
and bathhouse
183,621.89
$ 170.14,
183,792.03
Filter system
17,000.00
17,000.00
Furniture and
equipment
3,637.01
3,637.01
$214,258.90
170.14
$214,429.04
ALLOWANCE
FOR DEPRECIATION
Swimming pool
and bathhouse
$ 13,671.76
$5,517..16
$ 19,.188.92
Filter system
4,250.00
1,700.00
5,950.00
.Furniture and
equipment
621.81
363.70
985.51
$ 18,543.57
$7,580.86
$ 26,124.43
NET BALANCE
$195,715.33
$188,304.61
-33
_ -34-
PARK SINKING
FUND
„BALANCE SHEET
VILLAGE OF EDINA
December 31,
1961
ASSETS
Cash:
Demand deposits
2,022.66
Time deposits
37,000.00
39,022.66
Receivables:
Due from Swimming Pool Fund
12,097.50
Taxes receivable - current and delinquent
34,416,84
Taxes receivable — deferred
986000,00
$1,020,416.81+
Less;
Allowance for uncollectible taxes
$36,600..00
Allowance for-delinquent taxes
1,831.84
38,431.84-
981,985.00
994,082.50
$1,033,105.16
LIABILITIES, RESERVE AND
SURPLUS
Amount payable during 1962:
Interest
25,325:00
Bonds
15,000.00
40,325.00
Bonds payable
$675,000.00
Less current portion - shown above
15,000.00
660,000.00
Reserve for future interest
$314,725.00
Less current portion - shown above
25,325.00
289,400.00
Surplus - unappropriated
43,380.16 .
$1,033,105.16
_ -34-
PARK SINKING FUND
STATEMENT OF' SURPLUS
VILLAGE OF EDINA
Year Ended December 31, 1961
Balance at January 1, 1961
Additions:
Income on investments
Txansfexs•
Allowance for delinquent taxes
Reserve for future interest
Reserve fox uncollectible taxes
Less portion allocated to
Swimming Pool Fund
Deductions
Payment to fiscal agent:
Interest
Service charge
.$32,982.18
322.71
525.23
25,835.00
8,675.00
2;602.50 6,072.50 32,432.73 32,755.44
$65,737.62
$22,283.00
74.46 22,357.46
Balance at December 31, 1961 $43,380.16
-35-
PARK SINKING FUND
ANALYSIS'OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1961
Balance at January 1, 1961
Additions:
Tax settlementsreceived from county:
$ 29,646.68
March 1961:
3,382.28
June 1961'
17,120.18
November 196i-'
13,657.77
j3,4,160.23
Sale of investments
25,000.00
Income on investments
322.71
Payment received on amounts due from
other funds at December.31, 1960
12,250.50
71,733.44
$101,380.12
Deductions:
Purchase of investments
$25,000.00
Payment to fiscal agent:
Principal
$15,000.00
Interest
22,283.00
Service charge
74.46
37,357.46
62,357.46
Balance at December 31, 1961 39,022.66
Summary:.
Demand deposits 2,022.66
Time deposits 37,000.00
TOTAL $39,022.66
-36-
PARK SINKING FUND
BOND AND INTEREST MATURITIES, DEFERRED TAX LEVIES, AND RESERVE FOR UNCOLLECTIBLE TAXES
VILLAGE OF EDINA
December 31, 1961
Annual'.matuxity and .interest date,
Interest rates
Year
1963
1964
1965
1966
1967
Bonds Interest
15;000.00
24,815.00
15,000.00
24,305.00
15,000:00
23,772.50
15,000.00
23,217.50
30,000.00
22,385.00
March l and
September 1
3.7%
and 3.9%
Allowance Pox
Uncollectible
Taxes
$10,185.00
11,695.00
13,227.50
14,782.50
1,615.00
Deferred
Levies
50,000.00
51,1000.00
52,000.00
53,000.00
54,000.00
1968
30,000.00
21,275.00
39725.00
55,000.00
1969
30,000.00
209165.00.
59835.00
5.69-000.00
1970
309000.00
19,055.00
79,945.00
579000.00
1971
309000.00
179945.00
10,055.00
58,000.00
1972
409000.00
169650.00
2,350.00
59,000.00
1973
40,000.00
15,170.00
49830..00
609000.00
1974
40,000.00
13;650.00
7,350.00
61,000.00
1975
40,000:00
12,090.00
99910.00
62,000.00
1976
40,000.00
109530.00
12,470.00
63,000.00
1977
50,000.00
8,775.00
5,225.00.
64,000.00
1978
1979
1980
1981
* Indicates red figure.
50,000.00
50,000.00
50,000.00
50,000.00
660,000.00
6,825.00
4,875.00
2,925.00
975.00
$289,400.00
8,175.00
11,125.00
52,925.00#
50.975.00#
$36,600.00
65,000.00
66,000.00
$986,000.00
-37-
-38-
PARK CONSTRUCTION FUND.
BALANCE SHEET
VILLAGE OF EDINA
December 319 1961
ASSETS
Cash:
v
On deposit
33,.047.59*
Investments:
Edina Park System Bonds - at face
value
96,000,00
Fixed assets- at cost:
Land
$446,762,32
Construction in progress
326,716,27
Equipment
1,119.97
774,598.56
$837,550.97
LIABILITIES AND SURPLUS
Trade accounts payable
32,576,79
Surplus invested in fixed assets
774,598.56
Reserve for construction
30,375.62
$837,550.97
# Indicates overdraft.
-38-
PARK CONSTRUCTION FUND
ANALYSIS OF RESERVE FOR CONSTRUCTION
VILLAGE OF EDINA
Year Ended December 31, 1961
Balance at January 1, 1961 $105,849..20
Additions:
Transfer from Liquor Dispensary.Fund $80,000.00
Sale of excess fill - Cornelia School site 1,280.25 .
Income on investments 238,39 81,518.64
$187,367.8,4
Deductions:
Purchase of fixed assets 156•,992.22
Balance at December 31, 1961 $ 30,375.62.
-39-
PARK CONSTRUCTION FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1961
Balance at January 1, 1961
Additions;.
Transfer from Liquor Dispensary. Fund
Sale of excess fill - Cornelia School sit
Income on investments
Increase in liabilities:.
Accounts payable:
Balance at- December 31, 1961
Balance at January 1, 1961 •
Deductions:
fixed assets
# Indicates overdraft.
24,113.20
$80,000.00
e 1,280.25
238.39
$32,576.79
14,264.00 18,312.79 99,831.43
6123,941+.63
156,992.22
Balance at December 31, 1961 $ 33,04.7.59#
-40-
Land:
Highway 169 and Hanson Road
Hays Farm property
Coffman property
Cornelia property
Pamela Park-
Jackson and Belmore Lane area
Sixty- second and Beard area
Fifty-.second and Arden area
Sixty- second and Tracy area
Lake Edina Second area
Fifty -fifth and York area
Birchcrest Park'
Division and Rutledge area
Normandale area
Unallocated
Construction in progress:
Fiftieth and Wooddale
Fifty- seventh and Chowen
Lake Cornelia area
Pamela area
Fifty- second and Arden
Normandale area
Jackson and Belmore Lane area
East Mirror Lake area
Fifty -fifth and York
Sixty - second and Beard.
Hays Farm property
Cornelia School site
Sixty -ninth and McGuire
Division and Rutledge area
Sixty- second and Tracy area
Other park areas
Unallocated
Equipment
PARK CONSTRUCTION FUND
FIXED ASSETS
VILLAGE OF EDINA
December 3;1, •1961
15',00!.09
221,475.35
12,639.48
73,885.99
2,440.00
20,415.55
26,650.00
1,250.00
18,300..00
30,205.00
7,250.00
5,400.00
6,075.00
4,000.00
1,768.86
- 18,'621.06
.5,508.67
42,965.53
110,003.50
16,469.28
25,679.21
.79.565.50
32,804.83
6,802.95
6,531.93
10,435.42
19,585.15
1,551.39
7,414.50
1,066.66
2,741.43
10.969.26
Balance at December 31, 1961
6446,762.32
326,716.27
1,119.97
A77/._rQA_rA
-41-
Total
ASSETS
Cash:
Demand deposits
$
219877.68
Time deposits
810,000.00
831,877.68
Investments
1,072,546.51
Receivables:
Special assessments:
Current - certified in 1961 collectible in 1962
1,178,528.23
Delinquent -
253,362.91
Deferred
5,148,651.75
Taxes and assessments receivable —Village share of projects:
Current
91800.00
Delinquent.
786.10
Deferred
132,007.15
$
6,723,136.14
Less allowance for delinquent taxes
581,194.77
$
69141,941.37
Due from other funds
1059869.32
Due from Construction Fund for advances
-
Other receivables
3,701.58
Prepaid interest
239386.00
Construction in progress:
Current
3,023,824.51
Deferred
788,653.02
Unallocated construction costs
83,503.95
$12,075,303.94
LIABILITIES, RESERVES AND SURPLUS
- Accounts payable'
$
19851.65
Accrued interest
80,834.71
Canceled assessments refundable
176.89
Due to Hennepin County
10,153.80
Due to other funds
96,924.69
Construction contracts payable
788,653.02
Advance from Improvement Fund
-
Loan from General Fund
1009000.00.
Payable to City of Minneapolis for Village share of sewage
disposal plant
89835.65
'Bonds payable
9,885,000.00
Construction deposits
3429293.38
Reserve for assessments adjustments
1029374.37
Reserve for construction
27,501.97
Surplus - unappropriated
630,703.81
$12,075,303..94
Indicates red figure.
IMPROVEMENT FUNDS
COMBINED BALANCE SHEET
VILLAGE OF EDINA
December 31, 1961
1951) 1952
Joint Permanent Improvement Improvement
Sewer Improvement Second First
.Elimination Construction No. 1 Revolving Series Series
2,445,529.00
$2,445,529_00
$2,445,529.00
$2,445,529.00
1953
Improvement
First.
Series
Sanitary
Sewer
No. 53
$ 86,316.37#
$ 734.41
$
6,122,67
$ 172.24
$ 1,111.88
$
602.26
$ 958.54
Series
10,000.00
Redemption
25,000.00
'135-,000.00,
46,000.00
$3,732,032,74
80,000:00
187,000,00
$ 86,316,37#
$10,734.41
$
31,122.67
$135,172.24,
$47,.111.88
$
80,602.26
$187,958.54
1,052,546:51
112,56
64.33
$ 41,367,96
$ 934,408,32
109000000
110.65
67,10
10,000.00
27,334.75
2,548.60
$
349792.22
$ 539543.21
$11,200.79
$
25,156.53
$ 41,128,50
2,445,529,00
$ 605,56
62,908.61
7;066.26
149000,47
1,153020
$5,839,892.86
5,394,70
5,747.88
23,396.92
482,050.08
$ 8,835.65
17,912,96
9,656.46
10,182078
35,259.76
38,046.74
282,758.36
1
70;000.00
342,293.38
44,061.48
2,4019467.52
786.10.
492.42#
110.77
1,755.39#
27,501.97
(
69,098.54
$ -
$ .605.56
$
599771.44
$ 77,200.14
$22,536:77
$
68,597.97
$399,519.38
605.56
9,701.52
17,160.45,
2,222.38
8,554.86
29,779,66
$ -
-
$
50,069.92
$ 609039.69
$20,314.39
$
60,043,11
$369,739,72
100.00
38,147.91
973.30
28,242.59'
3,701,58
3,023,824,51
1954 Improvement
$252,908,78
Improvement
Southdale
788,653.02
Second
Bond
Improvement
Series
2,070,00
Redemption
$ 2,877,52
.402.82
231.32
$3,732,032,74
$10,734.41
$119,340,50'
$195,211.93
$78,399.57
$102,877,52
$49,402.82
$ 65,231,32
$ 256,25
$ 641.67
1,052,546:51
112,56
64.33
$ 41,367,96
$ 934,408,32
$ 141.60
110.65
67,10
$ 28,055.37
27,334.75
2,548.60
8,147,10
1,183.92
788,653.02
9,800.00
2,445,529,00
62,908.61
$ 54,880.08
$33,816,20
100,000,00
$5,839,892.86
5,278.11
2,445.23
23,396.92
482,050.08
$ 8,835.65
$319370.97
$142,918.82
$5,357,842.78
35,259.76
697,16
1
70;000.00
342,293.38
44,061.48
2,4019467.52
23,386.00
492.42#
110.77
1,755.39#
27,501.97
(
1,898.76
117,142072
61,474.60''
8,197.94
$3,732,032.74,
$10,734.41
$119,340,50
$195,211.93
$78,399.57
81,433.95
$140,645_37
1954 Improvement
$252,908,78
Improvement
Southdale
First
Second
Bond
Improvement
Series
Series
Redemption
$ 2,877,52
.402.82
231.32
94,980,39
100.000.00
49,000.00
65,000.00
113,000,00
$102,877,52
$49,402.82
$ 65,231,32
$ 207,980.39
1,052,546:51
$ 24,877.85
$12,052.85
$ 41,367,96
$ 934,408,32
2,667,48
794.13
15,874.88
200,058.35
27,334.75
.20,969.22
.109,072.90
4,632,717,58
9,800.00
62,908.61
$ 54,880.08
$33,816,20
$166,315,74
$5,839,892.86
5,278.11
2,445.23
23,396.92
482,050.08
$ 499601,97
$319370.97
$142,918.82
$5,357,842.78
35,259.76
697,16
2,448.60
44,061.48
2,4019467.52
23,386.00
81,433.95
$140,645_37
$595,940.85 $187,739.25 $80,773.79
$252,908,78
$9,127,105,75
1,0,24.32
12,606.13
2,862.99 ,.
$ 1,$51.65
$ 870,00
$ 1,800.00 $ 480.00
$ 1,365,00
75,421.79
97.15
6,114,04
$ 1,836.70 53.40 42.45
29644,15
329.30
8,611.59
7,475.45
39,619.92
90,000.00 535,000,00
8,753.67
34,810.51 59,104.15
$140,645.37 $595,940.85
180,000.00
60,000.00
185,000.00
3,022.86
1,0,24.32
12,606.13
2,862.99 ,.
16,582.87
44,996.76
$187,739.25
$80,773.79
$252,908.78
.8,6409000.00
79,104,43
283,632.51
$9,127,105,75
-42- .
Balance at January 1, 1961
Additions:
Interest spread on assessments for collection in 1962
Accrued interest on sale of bonds
Income on investments
Capitalized interest
.Over- collection on taxes
Other
Deductions:
Interest on bonds
Bank service charges
Cost of bond sale
Cancelation and adjustments
Transfers - add (deduct):
Allowance for delinquent taxes
Interfund transfers
Reserve for assessment adjustments
Balance at December 31, 1961
Total.
$533,091:93
$315,831.05
12,497.78
26,720.26
35,238.38
81.02
1,737.22
$392,105.71
$272,960.90
1,610.96
4,350.65
10,662.95
$289,585.46
$635,612.18
4,030.71)
877.66)
$630,703.81
$ 3,008.70 $ 1,017.99
$ 541,15 3,672,50 599.40
$ 3,009.52
1,351.54
12.27
$ 2,722.30
IMPROVEMENT FUNDS
$ 7,.110..31
$ 267,50
674.28
$ 458,07
$ 699.62
$ 85.50
735.71
$ 1,641.67
$ 2,730.83
32.25
STATEMENT OF SURPLUS - UNAPPROPRIATED
8.00
64.00
$ 267.50
$ 4,345.70
$ 466,07
$ 763.62
$ 117.75
$ 4,647.98
$ 76,33
VILLAGE OF EDINA
$14,794.43
$60,215.67
31,50
44.25
10258.93
1,404.19
225.00
j-21227-58
$ 7,930.67
Year Ended December 31,
1961
$1,888.59
$ 39,751.39
$28,237.76 .$33,581,36
$234,276.08
10.17
1,655.44
16,40
81,50
1,103.37
75,735.89
( 28,237.76)(
33,581.36)
1952
1953
$18,429.55
$5,507.81
$ 1,456:40
$ 4,350.66
Joint
Permanent
1950 Improvement
1951 Improvement
$42,560.92
Improvement
Improvement_
Sanitary
11954 Improvement
2,435.84
Improvement
Sewer
Improvement
First Second
First
Second
First
First
Sewer
Southdale First
.Second
Bond
No. 1
Revolving
Series Series
Series
..Series
Series
Series
No. 53
Improvement Series
Series
Redemption
$1,621.09
$ 35,405.69
$27,879.52 $33,174.99
$14,358.76
$58,182,45
$.17,286.98,
$31,323.60
$49,559.•76
$2,510,46 $15,077.68
$38,980,91
$207,730.04
$ 3,008.70 $ 1,017.99
$ 541,15 3,672,50 599.40
$ 3,009.52
1,351.54
12.27
$ 2,722.30
$ 1,568.19
$ 7,.110..31
$ 267,50
674.28
$ 458,07
$ 699.62
$ 85.50
735.71
$ 1,641.67
$ 2,730.83
32.25
213.41
8.00
64.00
$ 267.50
$ 4,345.70
$ 466,07
$ 763.62
$ 117.75
$ 4,647.98
$ 76,33
$ 88.00
$14,794.43
$60,215.67
31,50
44.25
10258.93
1,404.19
225.00
j-21227-58
$ 7,930.67
107.83-
$ 357.25
$1,888.59
$ 39,751.39
$28,237.76 .$33,581,36
$234,276.08
10.17
1,655.44
16,40
81,50
1,103.37
75,735.89
( 28,237.76)(
33,581.36)
$19898.76
$117,142.72
$18,429.55
$5,507.81
$ 3,008.70 $ 1,017.99
$ 541,15 3,672,50 599.40
$ 3,009.52
1,351.54
12.27
$2,486.77
$ 1,568.19
$ 7,.110..31
$ 553.42
$ 6,681.20
$ 1,617.39
$.4,361.06
$ 85.50
$ 4,550.83
$ 1,641.67
$ 2,730.83
32.25
97.15
31,00
38.68
10,437.95
34,502.67
$ 117.75
$ 4,647.98
612,110.62.
8 2,769.51
$14,794.43
$60,215.67
$ 6,793.75
$32,915.15.
10258.93
1,404.19
1,895,36
(.13,916-77),
( 877.66)
$ - $61,474.60 $ 8,197.94
$34,810,51
$15,423.19
$2,486.77
$ 1,568.19
$ 7,.110..31
$279,484.08
12,497.78
5,472.23.
1,600.15
659.39
820.36
9,904,07
34,502.67
81.02
1,439.54
$20,895.42
$4,086.92
j-21227-58
$ 7,930.67
$337,909.16.
$18,327,50
$5,475,00
$ 1,440.00
$ 4,269.16
$234,276.08
102,05.,
32.81
16,40
81,50
1,103.37
4,350.65
$18,429.55
$5,507.81
$ 1,456:40
$ 4,350.66
$239,730.10
$52,025.63
$1,089.57...x.
$15,848.86
$42,560.92
$305,909,10
7,078,52
19773.42
734,01
2,435.84
( 22,276,59)
$59,104,15
$2,862,99 $16,582.87 $44,996.76 $283,632.51
-43 -.
Balance at January 1,1961
Additions:
RemitItance - from County Auditor:
On special assessments
On taxes receivable
Collections by Village on special assessments
Proceeds from sale of bonds:
Principal
Accrued interest and premiums
Sale of investments
Collection from other funds
Advance from Improvement Funds
Payment received on connection charges
'Construction deposits received
Collections for other funds
Deductions:
Construction costs charged to others:
General Fund
Permanent Improvement Revolving'Fund
Improvement Fund
Construction deposits applied
Increase in construction in
progress:
Balance at December 31,
1961:
Current construction $3,023,824.51
Deferred construction . 788,653.02
.Unallocated costs 2,070.00 $3,814,547.53
Balance at January 1,
1961:
Current construction .$1,582,418.80
Deferred construction 322,219.35 1,904,638.15
Less increase in contracts payable:
Balance at December 31, 1961 $ 788,653.02
Balance at January 1, 1961 322,219.35
Less charges from other funds for
construction costs
(Balance Carried Forward)
$ 35,215.73
29,892.89
826,456.61
$ 891,565.23
67,475.71
$ 959,040.94
1,909,909.38
$2,868,950.32
466,433.67
$2,402,'516.65
Combined
$1,259,263.70
$1,114,440.73
9,758.81
144,352 62
3,4009000.00
12,497.78
1,439,951.26
126,924.00
2,200,000.00
37,027.15
141,666.14
3,298.22
$8,629,916.71
187,553.69 2,214,962.96
$7,674,217..45
IMPROVEMENT FUNDS
ANALYSIS OF CHANGE IN CASH—BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1961
2,214,962.96
$ 330,592.82 $23,873.84
$127,048.14 $47,978,20 $64,692.12 $27,355.88 $687,9.00.40 $110,844.77 $179,464.70 $2799684.84 -$154,564.93. $103,972.80 $169,839.50 .$5,366,404.51
-44 -
1952
1953
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
Construction
No. 1
Revolving
Series
Series
Series
-Seri-es
Series
Series
No. 53
Improvement
Series
Series
Redemption
72,220.86#
$12,596.17
12,875.27
$42,290.60
$62,139.45
$22,513P71,
$151,976.70 ''
$ 56,160,54
79,020.87.
$180,181.66
87,153.36
$ 45,951.66
$ 69,091.71
509,532.86
$ 10.17
$ 33,378.03
$ 59229.53
$ 1,133.05
$ 4,283.42
$'559721.27
$ .129291:93
.$ 289133,51
479739.04
.$ 26,941,77
$ 13,991.63
$ 51,053.60
$ 834,533.78
9,758.81
21748.34
17.60
1,275.43
514.08
1,994.48-
4041.27
702.28
1,370.12
5;465.83
125,923.19
3,400,000.00
12,497.78
$ 1509231.00
119267,50
74,674.28
4.58.07
699.62'
541,15
4789672,50
4,599.40.
69,351.54
33,472.23
32,600.15
42,659.39
43,820,36
459,904.07
125,879.50
1,04450
2,2009000.00
923.62
720.00
254.50
278.82
964.30.
13,95M4
79167.37
408.00
12,359.90
141,666.14
— 849.62
2,448.60
$2,617,776.64
$119277.67
$114,172.87
$ 5,687:60
$ 2052.67
$ 4,842.17
$535,923.70
$ 54,684.23,
$100,44.3.83
$.99,503.18
671411.57
$ 58,021,14
$100,747079
$4,856,871.65
2,214,962.96
$ 330,592.82 $23,873.84
$127,048.14 $47,978,20 $64,692.12 $27,355.88 $687,9.00.40 $110,844.77 $179,464.70 $2799684.84 -$154,564.93. $103,972.80 $169,839.50 .$5,366,404.51
-44 -
1
,(Balance Brought.Forward)
Deductions (cont'd):
Payment to other funds
Investments purchased
Payment to County Auditor for bookkeeping.charges
Transfer to Construction Fund
Bond redeemed
Interest on'bonds
Bank service charges
Loan to other fund
Refund on construction deposits
Refund on special assessments
Cost of bond sale
Costs charged directly to reserve for assessment adjustments
Paid to City of Minneapolis - sewage disposal-plant
Prepaid'interest.
Payment on connection charges
Transferred to Permanent Improvement Revolving Fund"
Increase in accounts receivable
Construction costs
Balance at December 31, 1961
* Indicates red figure.
Combined
$7,674,217:45
$ 257,882.92
1,988,000.00
1,557.70
292009000.00
290129000.00
2349760-50
1,610.96
37,000,00
20,488.87
79.54
4,350.65
1,437.98
2,139.43
23,386.00
24,150.75
3,701,58
29,792,89
$6,842,339.77
,$-.8319877.68
Construction
$ 330,592.82
$ 242,718.74
150,000,00
20,488.87
2,139.43
3,701,58
9 416,909.19 $13,139,43
$ 86,316.37# $10,734.41
79.54
2,385.00
59,679.70 *. 25,636.80 289997.37
29,792.89
$ 95.,925.47 $47,978.20. $64,692.12
$ 31,122.67 $ — $
4;350.65
1437.98
23,386.00
7,845.26 758.94 2,824.11 964.78 1,836.78 7,535.88
5,045.53
$27,355.88 $552,728.16`. $ 63,732..89 3-98,862,44 $ 91,726.30 $ 51,687.41 $ '54,569.98 $104,608.18 $5,158,424.12
$ — $135,172.24 $ 47,111.88 $ 80,602.26 $187,958.54 $102,877,52 $ 49;402.82 $ 65.,231132 $ 2079980.39.
-45—
IMPROVEMENT FUNDS
ANALYSIS OF CHANGE
IN CASH BALANCE (Cont'd)
1952
1953
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
No. 1
Revolving
Series
Series
Series
Series
Series
Series
No. 53
Improvement
Series
Series
Redemption
$23,873.84
$127,048,14
$47,978.20
$64,692.12
$27,355.88
.$687,900,40
$110,844.77
$179,464.70.
$279,684.84
$154,564.93
$103,972.80
$169;839.50
$5,366,404.51
$ 14,671.54
$ 26.65
$ 465.99
$11,000.00
74,000,00
$475,000.00
$ 41,000.00
$ 68,000.00
28,000.00
$ 31,000.00
$ 42,000.00
$ 43,000.00
1,025,000.00
61.20
$ 80.90
$ 1.50
$ 21.60
100.75
17.95
27.15
270010
29.60
28.80
72040
845.75
29200,000.00
22,000.00
33,000,00 ._...22.,000.00
65,000.00
20,000.00
25,000.00
45,000.00
15,000.00
10,000.00
55,000.00
1,700,000.00
-
229.00
264.00
.256,50
4,685.00
1,925.00
2,972,50
18,327.50
5,625,00
1,560.00
4,617.50
194,298.50
31.50
44.25
32.25
97.15
31.00
38.68
10.2.05
32.81
16.40
81,50
1,103.37
37 000 00
2,139.43
3,701,58
9 416,909.19 $13,139,43
$ 86,316.37# $10,734.41
79.54
2,385.00
59,679.70 *. 25,636.80 289997.37
29,792.89
$ 95.,925.47 $47,978.20. $64,692.12
$ 31,122.67 $ — $
4;350.65
1437.98
23,386.00
7,845.26 758.94 2,824.11 964.78 1,836.78 7,535.88
5,045.53
$27,355.88 $552,728.16`. $ 63,732..89 3-98,862,44 $ 91,726.30 $ 51,687.41 $ '54,569.98 $104,608.18 $5,158,424.12
$ — $135,172.24 $ 47,111.88 $ 80,602.26 $187,958.54 $102,877,52 $ 49;402.82 $ 65.,231132 $ 2079980.39.
-45—
IMPROVEMENT
FUNDS
$ONDS PAYABLE
VILLAGE, OF
EDINA
December 31,
1961
_.
1951
1952
1953
Improvement
Improvement
Improvement
Sanitary
1954 Improvement
Improvement
Second
First
First
Sewer
Southdale
First
Second
Bond
Year
Total
Series
Series
Series
No. 53
Improvement
Series
Series
Redemption
Annual maturities and interest
dates
June 1 and
March l and
March 1 and
January 1,
March 1 and
March 1 and
March 1 and
March. 1, June 1,
December 1
September 1
September 1
and July 1
September 1
September 1
-September l
Septembeit,l,
and °DecemberL4
rates
2 4/10% and
2 3/4%
.2 9/10%
3 1/4% and
1,7/10% ..
2 4/10%
1 3110% to
2% to
.Interest
2 9/10%
3 1/10%
and , 3%
2 3110%
3 9/10%
1962
$ 8759000.00
$ 60,000.00
$20,000.00
$25,000.00
$'15,000.00
$15,000.00
$ 40,000.00
700,000.00
1963
1;130,000.00
65,000,00
25.,000.00
259000,00
$ 45,000.00
15,000.00
15,000.00
40,000.00
900,000.00
1964
l,o6o,000.00
25,000.00
20,000.00
45,000.00
15,000.00
15,000.00
40,000.00.
900,000.00
1965
1,035,000.00 .
20,000.00
45,000.00
15,000.00
15,000.00
40,000.00
900,000.00
1966
980,000.00
402000.00
15,000.00
25,000.00
900,000.00
1967
965,000.00
40,000.00
15,000.00
.910,000.00
1968
785,000.00
40,000.00
15,000.00
730,000.00
1969
785,000.00.
40,000.00
15,000.00
730,000.00
1970
560,000.00
40,000.00
15,000.00
505,000.00
1971
36o,000.00
40,000.00
15,000.00,
305,000,00
1972
360,000.00
40,000.00
15,000.00
305,000.00
1973
3609000.00
40,000.00
159000.00
305,000.00
1974
145,000.00
�
40,000.00
105,000,00
1975
145,000.00
40, 000.00
105 , 000.00
1976
105,000:00
105,000.00
1977,
105,000.00
105,000.00
1978
65,000.00
65,000.00
1979
65,000.00
65,000.00
TOTAL
$9,885,000.00
$125,000.00,
$70,000.00
$90,000,00
$535,000:00
$180,000.00
$60,000.00
$185,000,00
$8,640,000.00
-46-
ASSETS
CURRENT ASSETS
Cash:
Demand deposits
Appropriated funds.
Time deposits (including accrued intere
of $217.70)
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 allowancesfor depreciation
*Indicates red figure.
WATERWORKS
BALANCE
VILLAGE OF
,December,
st
63,217;,70,
77,370.33
47 701.25
29, 9.08
24,700.02
8,045.95 32,745.97
$ 7,572.14
1,750.00 9,322.14
278.33
TOTAL CURRENT ASSETS 72,015.52
47,701.25
$ 27,556.38
$' 8934.85
3' 893 812.90
3,902,747.75''
575,918.76. 3,326,828.99 3,354,385.37
$3,474,102.14
$ .. 5,318.62*
19, 471.25
FUND
SHEET
EDINA
31, '1961
LIABILITIES AND SURPLUS
CURRENT LIABILITIES
Accounts payable and accrued expenses:
Trade accounts
37,655.65
Salaries and wages,
792.93
Interest
4,961.67
43,410.25
Due to other funds:
Permanent Improvement Revolving Fund
$ 37,000.00
General Fund
751.46
37,7.51.46
Current maturities of bonds payable
33,000-00
_TOTAL CURRENT
LIABILITIES
114,161-71
LONG —TERM DEBT
Bonds payable - Note B
$ 499,000.00
Less current maturities — shown above
33,000.00
466 ;000.00
SURPLUS
Invested in fixed assets
$ 518,342.92
Revaluation of fixed assets — Note A
30,059.44
Contributed by.:special assessments - Note A
2,256,332.41
Contributed by General Fund
13,650.60
2,818,385.37
Earned:
Appropriated.
$ 67,172.50
Unappropriated
8,382.56
75,555.06
2,893,940143 -
See notes to balance sheet.
$3,474,102.14
—47—
WATERWORKS FUND
NOTES TO BALANCE SHEET
VILLAGE OF EDINA
December 31, 1.961
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 thereon
charged to income which has been transferred to earned surplus.
Note B - The annual maturities, due dates and interest rates are as follows:
-48 -�I
1947 Issue
1953 Issue
1955 Issue
1959 Issue
Total
Annual maturities
n'March land
March 1 and
March land
March 1-and
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
1962
$10,000.00
$ 5,000.00
10,000.00
$ 8,000.00
$ 33,000.00
1963
10,000.00
5,000.00
10,000.00
8,000.00
33,000.00
1964
10,000.00
5,000.00
10,000.00
8,000.00
33,000.00
1965
10,000.00
5,000.00
10,000.00
8,000..00
33,000.00
1966
10,000.00
10,000.00
10,000.00
'8,000.00
38,000.00
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
35,000.00
1973
35,000.00
35,000.00
1974
35,000.00
35,000,.00
1975
40,000.00
40,000.00
$60,000.00
$40,000.00
$140,000.00
$259,000.00
$499,000.00
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.
-48 -�I
*Indicates red figure.
—49—
WATERWORKS FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year Ended December 3.1, 1961
Invested
Contributed
Contributed
Earned Surplus
in Fixed
by
by
Total
Unappropriated
Appropriated
Assets
Assessments
General Fund
Revaluation
Balance at January 1, 1961
$2,780,400.50
$108,429.05
$68,255.63
$362,296.02
$2,196,700.17
$13,978.21
$30,741.42
Additions:
Net income for year
3,839.69
3,839..69
Watermains contributed by
special assessments
109 700.24
2,893,940.43
112,268.74
8,255.63
362,296.02
109 700.24
$2,306,400-41 00.41
13,978.21
30,741.2
Transfers:
Provision for depreciation
—
96,354.51
45,276.92#
50,068.00#
327.61#
681.98#
Adjustmdnts for fixed assets
acquired from surplus
—
168,323.82#
168,323.82
Bonds retired
—
33,000.00#
33,000.00
Increase in appropriation
of funds for reserve
for debt retirement
—
1,083.13
1,083.13#
Balance at December 31, 1961
$2,893,940.43
$ 8,382.56
$67,172.50
$518042.92
'$2,256,332.41
$13,650.60
$30,059.44
*Indicates red figure.
—49—
WATERWORKS FUND
STATEMENT OF INCOME AND EXPENSE,
VILLAGE OF EDINA
Per Cent to
Year Ended December 31 Increase Gloss Income
1961 1960 -Decrease* 19.1 1960
Number of meters in use:
At end of year 5,865 5,576 279.
At beginning of year 5,576 5,047 529
Income:
Sale of meters
$ 19,544.00
$ 22,425.00
$ 2,881.00#
Less cost of meters sold
GROSS ON METERS
17 636.95
1,907.05
a 20 377.11
2,047.89
2 740.16#
140.84#
.PROFIT
Water sales
189,894.17
180,040.96 .
9,853.21
Penalties
3,318.59
3,599.07
280:48#
Water connection permits
1,727.00
1,910.00-
183.00*
Tapping fees
356.00
286.00
70.00
Street opening fees
78.00
58.00
20.00
Use of hydrants.
7,980.90
7,555.91
424 99
Miscellaneous
1,352-44
8206,614-Y5
427.58
195,925.41
924.86
10,688.74 .100..0 %' 100.0%
Expenses:
Pumping:
Labor
$ 3,467.12
$ 3,220:48
$ 246.64
Power and light
21,400.08
219815.12..
415.04
Supplies and repairs
214.55
121.00
93.55
Buildings:
Labor
3,424.39
1,841.94
1,582.45
Fuel
938.93
817.90
121.03
Supplies
866.76
1,000.94
134.18#
Telephone
216:50
201.00
15.50
Repairs
163.97
405.23
241.26'.
Insurance
213.69
228.24
14.55#
Water purchased
419.50
652.25
232.75#
Provision for depreciation
13,475.99
11,684.32
1,791.67
Repairs
2. 172.64
46,974-12
41-783.0
6 46,771.46
2,610 40*
202. 22.74% 23.9%
Distribution:
Labor
$ 8,829:45
$ 11,207.70
$ 2,378.25#
Materials and supplies
3,582.89
5,165.06
1,582.17#
,Operation of . meters:.
Labor
4,015.57
4,679.32
663.75'
,Supplies and.expenses
303.89
759.74
455.85#
Provision for depreciation
54,737.18
51,962.34
2,774.84
Repairs
40.00
115:49
75.49#
71,508.98
73,889.65
6 2,380.67* 34.61. 37.7
-50-
WATERWORKS FUND
STATEMENT OF INCOME AND EXPENSE (Cont!d)
Expenses (cont'd):
Tanks, towers and reservoir:
Labor
Power and lease lines
Supplies
Provision for depreciation.
Insurance
Water treatment:
Labor
Supplies
Provision for depreciation
Vehicle operations:
Allocated from equipment pool
Provision for depreciation
Administrative and general:
Salaries:
Superintendent
Clerical
Meter reading
Meter reading supplies
Office supplies, postage,
telephone, etc.
Supervision
Provision for depreciation
Professicn al services
Miscellaneous
Building - rental
TOTAL OPERATING.EXPENSES
OPERATING INCOME
Income on investments
Other deductions:
Interest on bonds
Fiscal agent's.service
Cost of building razed
N ET
Depreciation charges-to
included in expenses
$ 7,740.00
3,579.84
5,154.78
15.60
3,960.00
3,180.00
591.37
1,125.00
372.98
276.00
25,995-57
$187,751.74
18,862.41
590.43
19,452.84
$ 15,278.92
charge 81.54
252.69
15,613.15
INCOME, 3,839.69
) perations
$ 96,354.51
$ 6,300.00
3,953.04
5,048.63
26.00
3,780.00
2,700.00
551.13
3,547.07
375.61
180.00
26 461:48
178,902.69
17,022.72
3,230.28
20,253.00
$ 18,497.92
80.17
18,578.09
$ 1,674.91
$ 1,440.00
373.20#
106.15
10:40*
180.00
480.00
40.24
2,422.07#
2.63#
96.00
465.91#
8,849-05
1,839.69
2,639.85*
800.16
$ 3,219.00#
1.37
252.69
2,964.94#
$ 2,164.78
$ 82,678.72 $13,675.79
12.58
90.87
13.5
91.3
9.13
Per Cent to
Year Ended
December 31
Increase
Gross Income
1961
1960
Decrease*
1961 1960
$ 84.74.
$ 39.75
44.99
1,720.45
378.08
1,342.37
3.15
19.32
16.17#
22,652.25
16,581.65
6,070:60
342.98
366.36
23.38#
24,803.57
8 17,385.16
6 7,418.41
12.00% 8.9%
$ 409.47
$ 799.12
$ 389.65#
9,862.31
9,176.54
685.77
3,610-32
13,882.10
870.67
10,846.33
2,739.65
3,035.77
5.72 5.5
$ 3,300-00
$ .2,-520.00
$ 780.00
1,287-40
4,587.40
1,028.61
6 3,548:61
258.79
1,038.79
2.22 1.8.
$ 7,740.00
3,579.84
5,154.78
15.60
3,960.00
3,180.00
591.37
1,125.00
372.98
276.00
25,995-57
$187,751.74
18,862.41
590.43
19,452.84
$ 15,278.92
charge 81.54
252.69
15,613.15
INCOME, 3,839.69
) perations
$ 96,354.51
$ 6,300.00
3,953.04
5,048.63
26.00
3,780.00
2,700.00
551.13
3,547.07
375.61
180.00
26 461:48
178,902.69
17,022.72
3,230.28
20,253.00
$ 18,497.92
80.17
18,578.09
$ 1,674.91
$ 1,440.00
373.20#
106.15
10:40*
180.00
480.00
40.24
2,422.07#
2.63#
96.00
465.91#
8,849-05
1,839.69
2,639.85*
800.16
$ 3,219.00#
1.37
252.69
2,964.94#
$ 2,164.78
$ 82,678.72 $13,675.79
12.58
90.87
13.5
91.3
9.13
8.7
1.3%
9.42
7.56 9.5
1.86% .8%
-51-
WATERWORKS FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, i961
Balance at January 1, 1961 $142,830.92
Additions:
Collections on accounts receivable
$205,100.28
Collection on amounts due from other
funds
7,555.91
.Income on investments
590.43
Sundry sales and services
3,654.79
Sale:of water meters
19;484.50
Collection received for'other.funds
692.00
Loan from Permanent Improvement Revolving Fund
37,000.00
Other
59.48
Increase in amounts payable:
Balance at December 31, 1961:
Trade accounts
$ 37,655.65
Accrued payroll
.792.93
38,448.58
Balance at January 1;;1961:
Trade accounts
$ 14,055.33
Accrued payroll
627.20
14,682.53
23,766.05.
297 903.44
440,734.3
Deductions:
Payment -on amount due to other funds
$ 1,302.00
Payment to fiscal agents:
Principal
$ 33,000.00
Interest
15,567.75
Service charges
81.54.
48'649.29
Meters purchased
16,439.00
Additions to fixed assets
$317,473.67
Less:
Carrying value of disposals.
$ 2,196.92
Contributed by special assessments
109,700.24
111,897.16
205,576.51
Operating expenses
$187,751.74
'Less provision for depreciation
96,354.51
91,397023
363,364.03
Balance
at December
31, 1961
$ 77,370.33
Summary:
Operating Fund
$ 5,318.62*
Sinking Fund
19,471.25
Time deposit
63,217.70
TOTAL
$ 77,370,33
*Indicates red figure.
—52—
WATERWORKS FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December 31, 1961
Land
Land improvements
Distribution system:
Purchased
Contribution by special assessments
Contribution by General Fund
Buildings and equipment:
Pumphouses
Wells
Pumps and piping
Tanks and towers
Office equipment
Miscellaneous equipment
Water treatment equipment
Automobiles and'_.trucks
Storm sewer
Tools
Construction in. progress
TOTAL
*Indicates red figure.
A s s e t s
Balance Balance
January December
1, 1961 Additions Deductions Transfers 31, 1961
$ 27,431.38 $ 125.00 $ 27,556.38
7,959.47 422.86 $ 552.52 8,934.85
Allowances7.for Deareciation
Balance Balance
January December
1; 1961 Additions Deductions 31, 1961
1,277.34. $ 338.44 1,615.78
Net Balance
December
31, 1961
$ 27,556.38
7,319.07
$ 216,994.23
$ 168.00
$ 217,162.23
$ 72,570.50
$ 4,341.57
$ 76,912.07
$ 140,250.16
2,448,998.01
$109,700.24
2,558,698.25
252,297.84
50,068.00
302,365.84
2,256,332.41
16,380.66
2,682,372
$109,700.2Z T - 168.00
16,380.66
2,792,241.14
2 402.45
327,270.79
327.61
$54,737.18
-
2,730.o6
382,007.97
13,650.6o
2,410,233.17
$ 59,449.55
$ 892.80 $ 84,846.75
$ 143,403.50
14,586.17
4,057.04
640.11
18,003.10
125,400.40
130,946.64
13.0,946.64
30,277.99
5,238.07
35,516.06
95,430.58
76,689.29
76,689.29
34,145.13
3,842.44
37,987.57
.38,701.72 .`
566,278.84
566,278.84
63,143.67
22,652.25
85,795.92
480,482.92
2,986.85
$ 20.93
3,007.78.
1,705.01
267.64
1,972.65
1,035.13
4,129.91
4,129.91
1,195.31
323.73
1,519.04
2,610.87
18,474.85
118,286.26
136,761.11
3,707.86
3,289.46
6,997.32
129,763.79
7,918.60
7,918.60
2,895.09
1;287:40
4,182.49
3,736.11
-
32,086.09
32,086.09
-
320.86
320.86
31,765.23
370.57
20.57
350.00
-
-
350.00
867,245-10
3,585,008.85
20.93 913.37 $235,219.10
110,269.03 913.37 6235,939.62
$1,101,571-76
3,9309304.13
$151 56.23
4809204.3
T4-11278.89
$96,354-51
40.11
40.11
-192,295-01
575,918.7
909,276-75
3,354,385.37
30,911.33
2079204.64 2,176.35 235,939.62#
-
-
_
$3,615,920.18
$317,473.67 $39089.72 $ -
$3,930,304.13
$4809204.36
.$96,354.51
$640.11
$575,918.76
$3,354,385.37
-53-
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
Due to General Fund
SURPLUS
Invest.ed_in fixed-assets
Available
SEWER RENTAL FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1961
4,358.59
$10,000000
41.67 10,041.67
$14,400.26
$15,430.02
402.20
15 832.22
TOTAL CURRENT ASSETS
30,232.48
$ 2,695.93
1,716.45
3,247.86
19M3.11
27,643.35
11,6o6.36.
16,036.99
$46,269.47
$24,571.10
507.01
58.25
TOTAL CURRENT.LIABILITIES $25,136.36
$16,036.99
5,096.12 21,133.11
$46,269°47
-54-
Balance at January 1, 1961.
Deductions:
Net loss for year
Transfers:
Additions to fixed assets
Provision for depreciation
*Indicates red figure.
SEWER RENTAL.FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year Ended December 31, 1961
Available
$7,868.42
59196 72
$2,671 70
100.50*
2 524.92
2,424.42
Balance at December 31', 1961 .$5,096..12
Invested
in Fixed
Assets
$18,461.41
18,461.41
100.50
2,524-92*
2,424,42*
$16,036.99
-55-
d
SEWER RENTAL FUND
STATEMENT OF INCOME AND EXPENSE
VILLAGE OF EDINA
Operating-.income:
Service charges and penalties
Expenses:
Operating:
Sewer maintenance and
treatment
Labor
Supplies
Repairs
Water
Power
Provision for depreciation
Vehicle operation:.
!Allocatdd. from equipment pool
Provision for depreciation
Administrative and general:
Clerical and supervision
Auditing
Supplies, telephone, postage,
and retirement
Building rent
Provision for depreciation
Unclassified
TOTAL EXPENSES
OPERATING (LOSS) INCOME
Other income:
Income on investments
Miscellaneous
NET INCOME (LOSS)
Depreciation charges to operations
included in expenses
Year Ended December 31
1961- 1960
$84,791.'29 $77,583.01
Per Cent to
Operating
Increase Income
Decrease* 1961 1960
$ 7,208.28 100.0% 100.0%
$47,734.45 $43,721.34 $ 4,013.11
18,617.93
15,071.63
3,546.30
4,085.04
3,381.27
703.77
4,324.10
1,224.74
3,099.36
200.00
.200.00
-
2,666.65
2,391.65
275.00
1,861.92
79,490.09
1 859.09
67,849.72
2.83
T11,6740.37 93.7
$ 2,400.00
$ 1,620.00
$ 780.00. -
492.40
649.57
157.17#
2,892.40
6 2,269-57
0 622.83 3.4%
$ 4,468.00
$ 4,392.00
$ 76.00
300.00
300.00
-
2,640.00
2,46.0.00
180.00
180.00
120.00
60.00.
170.60
138.84
31.76
87.4
2.93.
7 9
7 79.52 7,410.84 385.8 9.2% 9•6%
$90,179-01 77 530.13 12 48.88 -10-C.-73 99.9
( 5,387.72) 52.88 ( 5,440. 0) ( 6.3 ) o7
65.00 98012 33.12* .1
126.00 21,17 104.•83 .2
($ 5,196.72) $ 172.17 ($ 5,368.89) ( 6.1 %) .2%
$ 2,524.92 $ 2,647.50 $ 122.58#
-56-
—57—
SEWER.RENTAL FUND
ANALYSIS
OF CHANGE IN CASH
BALANCE
VILLAGE OF EDINA
Year Ended December 31,
1961
Balance at January 1, 1961
$ 17,222.60
Additions:
Collections on accounts receivable
83,226.77
Tax settlements received
228.00.
Income on investments.
65.00
Other
126.00
83 645.77.
$100,868-37
Deductions:
Expenses for the year
$90,179.01
Less provision for depreciation
not requiring cash
2,524.92.
$ 87,654.09
Purchase of fixed assets
100.50
Other
7.90
Payables at January 1, 1961:
Trade accounts
$23,349.49
Payroll
492.49
23 841.98
$111,604-47.
Less payables at December 31, 1961:
Trade accounts
$24,571.10
Payroll
507.01
Due to other funds
58.25
25,136.36
86,468.11
Balance
at December
31', 1961
$ 14,400026
Summary:
Demand deposits
$ 4,358.59
Time, deposits.,
10,041.67
TOTAL
$14,400.26
—57—
SEWER RENTAL FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December 31, 1961
Allowance for Depreciation
Land improvements .
Furniture and fixtures
Trucks
Equipment
$ 304.60 $ 106025
445,12 .170.60
1,917.55 492.40
6,414.17 1,755.67
$ 9,081.44 $2,524.92
NET BALANCE $18,461.41
$ 410.85
615.72
2,409.95
8,169.84
$11,606.36
$16,036.99
—58—
Balance_
Balance
January 1,
December 31,
Assets
1961
Additions
1961
Land improvements
$ 2,616.35
$ 79.58
2,695.93
Furniture -and fixtures
1,695°53
20.92
1,716,45
Trucks
3,247.86
3,247.86
Equipment
19,983.11
19,983.11
$27,542.85
$ 100050
$27,643.35
Allowance for Depreciation
Land improvements .
Furniture and fixtures
Trucks
Equipment
$ 304.60 $ 106025
445,12 .170.60
1,917.55 492.40
6,414.17 1,755.67
$ 9,081.44 $2,524.92
NET BALANCE $18,461.41
$ 410.85
615.72
2,409.95
8,169.84
$11,606.36
$16,036.99
—58—
LIQUOR DISPENSARY FUND
BALANCE SHEET
VILLAGE OF EDINA
December 319 1961
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
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
Due to General Fund
SURPLUS
Invested in fixed assets
Available
$ 641073
299855.25
23,000.00. $ 539496.98
29000000
$ 269756.63
48417
$2179025057
26,486.99
69810046
19542060
$ 559496098
279240080
2519865062
$ 12,475035
29355.91
51.44
TOTAL CURRENT LIABILITIES $ 149882070
$ 909143001
3209246.55 4109389 56
$4259272026
—59—
$ 375.85
150000
525085
_ ,TOTAL CURRENT ASSETS
$335,129.25
$ 169500900
$ 29224047
75,331.92
25931458
169840.43
$119,711040
469068039
739643 01
909143.01
$4259272026
$ 12,475035
29355.91
51.44
TOTAL CURRENT LIABILITIES $ 149882070
$ 909143001
3209246.55 4109389 56
$4259272026
—59—
LIQUOR DISPENSARY FUND
STATEMENT OF SURPLUS
.VILLAGE OF EDINA
Year Ended December 31, 1961
# Indicates red figure'..
—60.—
Invested
in Fixed
Total
Available
Assets
Balance at January 1, 1961
$379,280-34
$283,047.15
$99233019
Additions:
Net income
for the year
236,109022
236,109.22
$615,389,56
$519,156.37
$969233,19
Deductions:
Transfer
to General Fund
$"849993000
$ 849993,00
Transfer
to Park Fund
40,007000
40,007°00
Transfer
to Park Construction Fund
80,000,00
80,000.00
$205,000,00
9205,000,00.
$ —
$410,389.56
$314,156°37
$969233.19.
Transfers:
Additions
to fixed assets
—
1,397.25#
1,397025
Provision
for depreciation
—
7,487.43
7,487.43#
Balance at December 31, 1961
$410,389-56
$320,246,55
$90,143.01
# Indicates red figure'..
—60.—
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 1st
Purchases
Inventory at December 31st
GROSS PROFIT
Ye a Ended December . 31 Per Cent to Net Sales
1 9 6 1 1 9 6 0 Increase- Decrease# 50th Street Southdale
50th Street Southdale Total 50th Street Southdale Total 50th Street Southdale' Total 1961 1960 1961 1960
$588,733.36
74,502.92
115;753.99
13,082.54
$792,072.81
1,185.68
$790,887.13
$419,254.21
63,954.99
65,232.70
7,945.89
$556,387.79
653.16
$555,734.63
$1,007,987.57
138,457.91
180,986.69
21,028.43
$1,348,460.60
1,838.84
$1,346,621.76
$542,340.13
63,873.44
101,073.46
11,048.91
$718,335.94
1,163.65
$717,172.29.
$370,251.10 $ 912,591.23
55,395.21 119,268.65
55,916.38 156,989.84
6,535.09 17,584.00
$488,097.78 $1,206,433.72
557.97 1 1,721.62
$487,539.81 $1,204,712.10
$46,393.23 $49,003.11
10,629.48 8,559.78
14,680.53 9,316.32
2,033.63 1,410.80
$73,736.87 $68,290.01-
22.03 95.19
$73,714.84 $68,194.82
$ 95,396.34
19,189.26
23,996.85
3.444.43.
$142,026.88
117.22
$141,909.66 loo.00% 1oo.00% '100.00% 100.00%
$126,847.70 $ 99,893.13 $ 226,740.83 $120,756.36 $ 95,895.90 $ 216,652.26 $ 6,091.34 $ 3,997.23 $ 10,088.57
609,574.25 428,419.35 1,037,993.60 548,246.62 370,812.43 919,059.05 61,327063 57,606.92 118,934.55
$736,421.95 $528,312.48 $1,264,734.43 $669,002.98 $466,708.33 $1,135,711.31 $67,418.97 $61,604.15 $129,023.12
139,229.01 112,636.61 251,865.62 126;847.70 99,893.13 226,740.83 12,381,31 12,743.48 25,124.79
$597,192.94 $415,675.87 $1,012,868.81 $542,155.28 $366,815.20 $ 908,970.48 $55, 037,66° $48;860.67 $T03,898.33 75.51 75.60 74.80 75.24
$193,694.19 $140,058.76 $ 333,752.95 $175,017.01 $120,724.61 $ 295,741.62 $18,677.18 $19,334.15. $ 38,011.33 24.49% 24.40% 25.20% 24.76%
Operating expenses:
Selling $ 29,700.06 $ 19,607.44 $ 49,307.50
Occupancy 11,316.14 16,446.32 27,762.46
Administrative 15,033.47 11,818.39 26,851.86
TOTAL OPERATING EXPENSES $ 56,049.67 $ 47,872.15 $ 103,921.82
NET OPERATING PROFIT $137,644.52 $ 92,186.61 $ 229,831.13
Other income:
Cash discounts
Cash over (short)
Other
Income on investments
Cost of election
Depreciation and amortization
included in expenses
$ 25,533.47 $ 17,142.84 $ 42,676.31
11,612.69 16,153.10 27,765.79
14,041.25 10,826.84 24,868.09
$ 51,187,41 $ 44,122.78 $ 95,310.19
4123,829.60 $ 76,601.83 $ 200,431.43
$ 4,166.59 $ 2,464.60 $ 6,631,19 3.76% 3.56% 3.53% 3.52%
296.55# 293.22 3.33# 1.43 1.62 2.96 3.31
992.22 991.55 1,983.77 1.90 1.95 2.12 2.22
$ 4,862.26 6 3,749.37 $ 8,611.63 -7.09% 7.13% 8.61% 9.05%
$13,814.92 $15,584.78 $ 29,399.70 17.40% 17.27% 16.59% 15.71%
3,788.67
29213.23
6,001.90
2,955.83
29007.87
49963.70
832.84
205.36
1,038.20
.48
.41
112,94
88.44
201.38-
125.94•(
11.04)
114.90
13.00#
99.48
86.48
.02
.02
98.14
20.27
118. -4,1
238.57
-
238.57
140.43#
20.27
120.16#
.01
.03
$141,644.27 $
94,508.55
$ 236,152.82
$127,149.94 $
78,598.66
$ 205,748.60
$14,494.33
$15,909.89
$
30,404.22
17.91%
17.73%
1,825.08
1,334.59
490.49
$ 237,977.90
$ 207,083.19
$
309894.71
1,868.68
-
1,868.68
NET
INCOME
$ 236,109.22
$ 207,083.19
$
29,026.03
$ 5,271.67 $
2,215.76
$ 7,487.43
$ 3,866.54 $
2,194.61
$ 61061.15
$ 1,405.13
$ 21.15
$
1,426.28.
.40 .41
.02
17.01% 16.12%
-61-
LIQUOR DISPENSARY FUND
COMPARATIVE OPERATING EXPENSES
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 service
Administrative:
Salaries and wages
Supplies
Professional services
Allocated expenses - retirement,
insurance, office supplies, etc.
Miscellaneous
VILLAGE OF EDINA
1
-62-
Y e a_r
E n d e d
D e c e m b e r
3 1
1 9 6 1
1 9 6 0
Increase- Decrease#
50th Street
Southdale
Total
50th Street
Southdale
Total
50th Street
Southdale
Total
$28,288.05
$18,243.98
46,532.03
$24,491.38
$16,036.05
$40,527.43
$3,796.67
$21207.93
$6,004.60
1,348.01
1,129.30
2,477.31
983.59
872.60
1,856.19
364.42
256.70
621.12
64.00
54000
118.00
54.00
54.00
108.00
10.00
-
10.00
-
180.16
180.16
-
180.19
180.19
-
003#
.03*
-
-
-
4.50 ,
-
4.50
4.50*
-
4.50#
$29,700.06
$19,607.44
4 49,307.50
$25,533.47
$17,142.84
$42,676.31
$4,166.59
$2,464.60
$6,631.19
$ 63.61
$ 112.39
$ 176.00
$ 100.14
$ -
$ 100.14
$ 36.53#
$ 112.39
$ 75.86 -
-
10,963.86
10,963.86
-
,10,877.87
10,877.87
-
85.99
85.99
317.40
258.60
576.00
305.60
249.60
555.20
11.80
9.00
20.80
223.00
156.73
379.73
266.82
97.38
364.20
43.82#
59.35
15.53
1,575.46
1,143.22
2,718.68
1,591.77
1_,095.25
2,687.02
16.31#
47.97
31.66
465.81
-
465.81
331.60
-
331.60
134.21
-
134.21
-
903.76
903.76
-
1,023.72
1,023072
-
119.96#
119.96#
365.95
152.01
517.96
326.22
128.31
454.53
39.73
23.70
63.43
150.00
-
150.00
163.00
-
163.00
13.00#
-
13.00#
638.95
171468
810.63
492.58
264.97
757.55
146.37
93.291*
53:08
1,164.80
95.31
1,260.11
3,288.39
91.39
3,379.78
2,123.59*
3.92
2,119.67*
5,271.67
2,215.76
7,487.43
3,866.54
2,194.61
6,061.15
1,405.13
21.15
1,426.28
167.00
120.00
287.00
30.00
120.00
150.00
137.00
-
137.00
222.49
18.00
240.49,
148.03
10.00
158.03
74.46
8.00
82.46
690.00
135:00
825.00
702.00
-
702.00
12.00#
135.00
123.00
$11,316.14
$16,446.32,
$ 27,762.46
$11,612.69
$16,153.10.
$27,765.79
$ 296.55#
$ 293.22
$ 3.33*
$11,309:00
$ 8,770.00
$ 20,079.00
$10,410.00
$.7,998.85
$18,408.85
$' 899.00
$ 771.15
$1,670.15
387.00
251.50
638.50
327.25
225.48
552.73
59.75
26.02
85.77
937.75
787.75
1,725.50
938.00
783.00
1,721.00
.25#
4.75
4.50
2,340.00
1,800.00
4,140.00
2,340.00
1,740.00
4,080.00
-
60.00
60.00
59.72
209.14
268.86
. 26.00
79.51
105.51
33.72
129.63
163.35
$15,033.47
$11,818.39
$ 26,851.86
$14,041.25
$10,826.84
$24,868.09
992.22
$ 991.55
$1,983.77
TOTAL $56,049.67
$47,872.15
$103;921.82
$51,187.41
$44,122.78
$95,310.19
$4,862.26
$3,749.37
$8,611.63
-62-
LIQUOR DISPENSARY FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF ED IN A
Year Ended December 31, 1961
Balance at January 1, 1961
Additions:
Gross sales
Cash discounts
Interest received'on investments
Decrease in prepaid expenses
Decrease in accounts receivable
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
Decrease in liabilities:
Balance at January 1, 1961:
Trade accounts $14,063.74
Accrued payroll 2,095.75 $ 16,159.49
Balance at December 31, 1961:
Trade accounts $12,475.35
Accrued payroll 2,355.91 276.79 1,345,809.55
Due to other funds 51,44 14,882,70 1,
Balance at December 31, 1961 $ 53,496.98
$ . 42,178.62
$1,348,460.60
6,001.90
1,904.58
.355.37
85.67
319.79 1,357,127-91
$1,399,3o6.53
$1,037,993.60
1,838.84
$105,790.50
7,487.43 98,303.07
1,397.25
$ 84,993,00
40,007.00
80,000.00 205,000,00
Summary:
— Demand deposits $30,496.98
Time deposits_ 23,000.00
TOTAL $53,496.98
—63—
LIQUOR DISPENSARY FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December 31, 1961
-64-
Balance
Balance
January 1,
December 31,,.
1961
Additions
1961
ASSETS
Land
16,500.00
$ 16,500.00
Land improvements
2,224.47
29224.47
Building
75,331.92
75,331.92
Furniture, fixtures and equipment
23,917.33
$1,397.25
25,314.58
Leasehold improvements
16,840.43
16,840.43
$134;814.15
$1;
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
Time deposits:
First Edina National'Bank
First Southdale National Bank
Fidelity Bank and Trust
Accrued interest on time
deposits
Working funds
# Indicates red figure.
CASH — ALL FUNDS
VILLAGE OF EDINA
December 31, 1961
Demand and
Time For Working
Deposits Deposit Funds Total
$ 167,256.78 $ 73,727.65 $ 500.00 $ 241,484.43
1,638.47#
3,089.25
1,450.78
.43,376061
3,919.12
47,295.73
6,295.59
6,295.59
37,364.89
1,657.77
39,022.66
33,047.59#
33,047.59 #.
$ 27,9541.27
$ 3,168.40
$ 31,122.67
776,684.03
110,38705
887,071.38
86,316.37#
86.316.37#
$ 718,321.93
$113,555.75 $ -
$ 831,877.68
$ 57,593.90
$ 305.18
$ 57,899.08
19,471.25
19,471.25
$ 77,065.15
$ 305.18 $ -
$ 77,370.33
.14,316.19
84.07
14,400026
23,641.73
29,855.25 2.000.00
55,496.98
$1,052,952.81
$226,194.04 $2,500000
$1,281,646.85
$ .86,629.54
42,257.94
$ ,128,887.48
500,000.00
300,000.00
3.50,000.00
259.37
2,500.00
$1,281,646.85
-65-
SECURITY FOR DEPOSITS
VILLAGE OF EDINA
December 31, 1961
First Edina National Bank:
Demand deposits
Certificates of deposit:,
First Southdale National Bank:
Demand deposits
Certificates of deposit,,,;
Fidelity Bank and Trust Company;
Minneapolis, Minnesota:
Certificates of deposit
Midland National Bank of Minneapolis
TOTAL
Deposits
Books Bank
$ 86,629.54 93,249.52
500., 000..00. 500., 000.00
$ 42,257.94
300,000:00
TOTAL $342,257.94
$350,000.00
TOTAL $350,000.00
TOTAL $ - -__ —�
$ 593_; 249.52.
57,891.44
300,000.00
$357,891.44
$350,000.00
$350,000.00
_ S e c u r i t Y f o r D e p o s i t s
Principal
Amount Description Due Date
$200,000.00 United States Treasury Bonds February 15, 1964
500,000.00 United States Treasury Notes May 15, 1964
10,000.00 Federal Deposit Insurance Corporation
$.710;000:00
$100,000.00
50,000:00
100,000.00
50,000.00
10,000.00
10,000.00
100,000.00
5,000.00
10.000.00
$435,000,00
$100,000.00
255,_000.00
10,000.00
$365,000,00
$ 35,000.00
15,000.00
10,000.00
$ 60,000.00
United States Treasury Notes
United States Treasury Notes
United States Treasury Notes
Federal, Home Loan Banks Bonds
Village of Edina Improvement Bonds
Village of Edina Improvement Bonds
United States Treasury Bonds
Village of Edina Improvement Bonds
Federal Deposit Insurance Corporation
United States Treasury Tax Anticipation Notes
United States Treasury Notes
Federal Deposit Insurance Corporation
Rice County, Minnesota Bonds
Moorhead, Minnesota Certificate of Indebtedness
Federal Deposit Insurance Corporation
May
15,
1962
August
15,
1962
November
15,
1962
April
15,
1963
March
1,
1965 and 1966
March
1,
1966 and 1967
May
15,
1966
September
1,
1970
.March 23, 1962
February 15, 1963
January 1, 1964
February 1, 1964
—66—
Description
United States Treasury bills
United States Treasury bills
Village of Edina, Minnesota:
1952 Improvement Bonds
Sanitary Sewer No. 53
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
1961 Improvement Bonds
FUND OWNERSHIP -
INVESTMENTS
VILLAGE-OF EDINA
December 31, 1961
Maturity
January 1, 1962
February 23, 1962
March ._ 1, 1963
January 1, 1965
March 1, 1965
March 1, 1962
March 1, 1971
March .1, 1968
March. 1, 1963
March 1, 1966
September 1, 1971
June 1, 1968
September 1, 1964
Interest Rate Face. Amount
Discounted 300,000.00
Discounted 250,000.00
550,000.00
2.75% 10,000.00
3.25 5,000.00
to 1.1970 2.30 to 2.50 15,000.00
and 1963 3.40 96,000.00
to 3.1979 3.70 to 3.90 191,000.00
to 1973 '3.70 96,000.00
to 1967 2.00 to 2.70 15,000.00
to 1969 2.75 to 3.50 109,000.00
and 1974 3.40 and'3..50 27,000.00
to 1970 3.20 and 3.30 82,000.00
2.40 25,000.00
$ 671,000.00
TOTAL $1,221,000.00
-67-
Carrying
Balance
Balance
Amount
January 1,
December 31,.
December 31,
1960
Purchased
Sold
1961
1961
Improvement Funds:
Special Assessment
$ —
11,000°00
11,000.00
—
—
Improvements
518,000.00
1,827,000.00
1,2629000.00
1,083,000.00
1,072,546.51
Construction
—
150,000.00
150,000.00
—
—
$5189000.00
$19988,000.00
$1,423,000.00
$1,0839000.00
$1,072,546.51
Liquor Dispensary
27,000.00
27,000.00
27,240:80
Poor
9,000.00
106,000.00
100,000.00
15,000.00
15,000.00
Park Construction
96,000.00
96,000.00
96,000.00.
Park
-
12,000.00
12,000.00
-
—
Park Sinking
—
25,000.00
25,000.00
—
—
TOTAL
$650,000.00
$2,131,000.00
$1,560,000.00
$1,221,000.00
$1,210,787.31
-67-
TAXABLE
VALUATIONS,; TAX .LEVIES AND RATES
VILLAGE OF EDINA
- December
31
11961
1960
Taxable valuation:
Real estate
¢
% g %�(,�T $26,545,764.00
$24,728,149.00 .
Personal property
2,483,913.00
2,531,359.00
TOTAL $29,029,677.00••
$27,259,508.00
Tax levies extended;
Extended in.year
;. 1961
1960
Collectible in year
1962
1961.
General
$ 687,422.75
$ 659,407.50
Parks
57,478.76
54,246.42.
Bonds and interest
44,125.11
43,342.61
Poor and public nursing
11,031.28
7,632.66
Firemen'.s relief
8,418.61
7,905.26
Fire protection
8,418.61
7,905.26
Hennepin County park
5,225.34
1,908.16
TOTAL $ 822,120.46
$ 782,347.87
Tax rate by mills:
General
.23.68
24119
Parks
.1.98
1.99
Bonds and interest
1:52
1.59
Poor and public nursing
.38
.28
Firemen's relief
..•29
•29
Fire protection .
.29
X29
Hennepin County park
.18
.07
TOTAL 28.32
28.70
—68 —.
' MUNICIPAL COURT FINES
VILLAGE OF EDINA
Year Ended December 31,
1961
State .
and
Village
County
Total
Fines and costs :impose& and ,collected:
Balance uncollected January 1, 1961
735.00
$ 735.00
Fines and costs imposed
66,641.62
$456.00
67,097.62
$67,376,62.
$456,00
$67,832062
' Collection by Clerk of Court
$60,828.62
$456.00.
$61,284,62
Fines suspended or discharged
5,793.00
5,793X0,
$66,621.62
$456.00
$67,077.62
Balance uncollected.at December 31, 1961
$ 755.00
'—
$ 755.00
-69-
OFFICIAL BONDS
VILLAGE OF EDINA
December 31, 1961
Position
On file with Clerk— Treasurer:
Blanket position
Blanket position
"Clerk— Treasurer
On file with Secretary of State:
Clerk of Municipal Court
Deputy Clerk of Municipal Court
On file with County Auditor:
Assessor
Name
Police department employees
All Village employees not
otherwise specifically bonded
Gretchen S. Alden
Mrs Dorothy Frazier
Kathryn B. Beard
Donald Kearns
i
i
i
i
—70—
Term Expires
Bond
Expires
Amount
Surety
March
1,
1964
$ 5,000.00
General Insurance Company of America
March
1,
1964
$50,000.00
General Insurance Company of America
December 31, 1962
March
1,
1964
$50,000.00
General Insurance Company of America
Indefinite
November
9,
1962
$ 1,000.00
The Aetna Casualty and Surety Company
Indefinite
November
9,
1962
$ 1,000.00
The Aetna Casualty and Surety Company
December 31, 1962
January
1,,1963
$ 500.00
The Aetna Casualty and Surety Company
i
i
i
i
—70—
MUNICIPAL COURT FINES
VILLAGE OF EDINA
Year Ended December 31, 1961
-69-
State
a nd
Village
County
Total
_ Fines and costs impos:e& and ,collected:
Balance uncollected January 1, 1961
735.00
735.00
Fines and costs imposed
66,641.62
$456.00
67,097.62
$67,376.62.
$456.00
$67,832.62
Collection by .Clerk of Court
$60,828.62
$456.00.
$61,284.62
Fines suspended or discharged
5,793.00
5,793000,
$66,621.62
$456.00
$67,077.62
Balance uncollected at December 31, 1961
$ 755.00
-
$ 755.00
-69-
l
,INSURANCE COVERAGE
VILLAGE OF EDINA'
December 31, 1961
Building and contents:
Village Hall
Library
Tool house garage
Storage shed
Municipal liquor store - 50th Street
Pumping stations: (B)'
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
.Sanitary sewer lift station
Bathhbuse,
Inventories:
.Liquor store - 50th Street
Liquor store - Southdale - Note E
Automotive:
Bodily injury
Property damage
Comprehensive
, Fire and
Extended Coverage
Building Contents
$346,000(B)
25,000
48,000
6,400
'65, 000 (B)
2,400 .
5,200
7,200
7,200
9,600
9,600
8,000.
6,400
9,600
80,000
144,000
32,000
36,000
Village liquor stores:
Comprehensive glass breakage
Burglary, robbery ; and,'theft. - within premises :- Nbte-'D
Burglary, robbery.and.'.theft. - outside premises - Note D
Burglary, robbery and theft ;merchandise, - Note D
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
$42,000(B)
14,400
4,400(B)
2,300
3,200
7,000
6,200
7,800
8,000
8,300
8,300
12,200
14,400
2,400
Other
$165,000
20,000(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
79,200
Actual Cash Value
Note
A -
40% coinsurance
Note
B
- 80% coinsurance
Note
C
- 90% coinsurance
Note
D
- 50th Street and
Southdale liquor stores
Note
E
- Other coverage
expired in October 3, 1961, and was not replaced
until February
2, 1962. Coverage as of the date of this report
was $170,000,
$150,000 full coverage and $20,000 90% coinsurance.
-71-
ORGANIZATION
VILLAGE OF EDINA
December 31, 1961
Village Council:
Mayor:.
Arthur C. Bredesen,;Jr,.
Trustees:'
Frank J. Tupa
Wm. Dickson
R. N. Beim
James Van Valkenburg
Hugh J. MacMillan
Clerk— Treasurer:
Gretchen S. Alden
Assessor:
Donald Kearns
Municipal Court:
Donald S. Burris, Judge
Bruce B. James, .Special Judge
Village Manager:
Warren C. Hyde
Village Attorney:
Maynard B. Hasselquist
Prosecuting Attorney:
Walter Gustafson
Engineer:
Joseph Zikan
Finance Director:
J. N. Da len.
—72--
Elected,
Term
Re— elected or
Expires
Re— appointed to
December 31
December 31
1961
1963
1963
1962
1961
1963.
1964
1961
1962
1961
1962
1962
1962
Appointed
by Council
1961,
1962
.1961
1962
1961
1962
1961
1962
—72--