Loading...
HomeMy WebLinkAbout1967 Financial StatementsAUDITED FINANCIAL STATEMENTS AND OTHER FINANCIAL INFORMATION VILLAGE OF EDINA, MINNESOTA December 31, 1967 INDEX ACCOUNTANTS' REPORT ON AUDITED FINANCIAL STATEMENTS........ PAGE 4 COMMENTS AND ACCOUNTANTS' REPORT ON OTHER FINANCIAL INFORMATION................ ............................... FUNDBALANCE SHEETS ......... ............................... GENERAL FUND: BALANCESHEET ..:.......... ............................... STATEMENTOF SURPLUS ...... ............................... ANALYSIS OF CHANGE IN CASH BALANCE ....................... REVENUE................... ............................... EXPENDITURES.............. ............................... CENTRALSERVICES .... ............................... .... FIXEDASSETS .............. ............................... BONDSPAYABLE ............. ............................... POOR FUND: BALANCESHEET ............. ............................... STATEMENT OF SURPLUS - UNAPPROPRIATED .................... STATEMENT OF REVENUES AND EXPENDITURES ................... ANALYSIS OF CHANGE IN CASH BALANCE ....................... PARK FUND: BALANCESHEET ............. ............................... STATEMENT OF'UNAPPROPRIATED SURPLUS ...................... ANALYSIS OF SURPLUS INVESTED IN FIXED ASSETS ............. ANALYSIS OF CHANGE IN CASH BALANCE ....................... REVENUEAND EXPENDITURES .. ............................... FIXEDASSETS .............. ............................... SWIMMING POOL FUND: BALANCESHEET ............. ............................... STATEMENTOF SURPLUS ...... ............................... ANALYSIS OF CHANGE IN CASH BALANCE ....................... STATEMENT OF INCOME AND EXPENSE .......................... STATEMENT OF INCOME AND EXPENSE (CONCESSIONS ONLY)....... FIXEDASSETS .............. ............................... GOLF COURSE FUND: BALANCESHEET ............. ............................... STATEMENTOF SURPLUS .. .......................... ...... ANALYSIS OF CHANGE IN CASH BALANCE ....................... STATEMENT OF INCOME AND EXPENSE .......................... STATEMENT OF INCOME AND EXPENSE - OPERATING DEPARTMENTS.. FIXEDASSETS ............................................. BONDSPAYABLE ............. ............................... RECREATION.CENTER FUND: BALANCESHEET ............. ............................... STATEMENTOF SURPLUS ......................... ........... ANALYSIS OF CHANGE IN CASH BALANCE ....................... STATEMENTOF INCOME.AND EXPENSE .......................... FIXEDASSETS .............. ............................... BONDSPAYABLE ............. ......................... ...... 9 11 12 13 14 15 18 19 20 21 22 22 23 24 25 25 26 27 28 29 30 31, 32 33 34 35 36 37 38 40 41 42 43 ,44:...._.. 45 46 47 48 INDEX (Cont'd) PARK.:SINKING FUND: BALANCESHEET.... ....................................... PAGE 49 STATEMENTOF SURPLUS ...... ............................... 50 ANALYSIS OF'CHANGE IN.CASH BALANCE ....................... 51 BOND AND INTEREST MATURITIES AND DEFERRED TAX LEVIES................... ............................... 52 PARK.CONSTRUCTION FUND: BALANCESHEET ............ ............................... 53 ANALYSIS OF RESERVE FOR CONSTRUCTION ..................... 54 ANALYSIS OF CHANGE IN CASH BALANCE ....................... 55 FIXED ASSETS .............. ............................... 56 IMPROVEMENT FUNDS: COMBINEDBALANCE SHEET .... ............................... 58 STATEMENT OF SURPLUS - UNAPPROPRIATED .................... 59 ANALYSIS OF CHANGE IN CASH BALANCE ....................... 60 BONDSPAYABLE ............. ............................... 62 WATERWORKS FUND: BALANCESHEET .............. .......................,....... 63 NOTESTO BALANCE SHEET .... ............................... 64 STATEMENT OF SURPLUS ...... ............................... 65 STATEMENT OF INCOME.AND EXPENSE .......................... 66 ANALYSIS OF CHANGE IN.CASH BALANCE ....................... 68 FIXEDASSETS .............. ............................... 69 SEWER .RENTAL FUND: BALANCESHEET ............................................. 70 STATEMENTOF SURPLUS ( DEFICIT ) ............................ 71 STATEMENT OF INCOME AND EXPENSE .......................... 72 ANALYSIS OF CHANGE IN CASH BALANCE.. ..................... 73 FIXEDASSETS .............. ............................... 74 LIQUOR DISPENSARY FUND: BALANCESHEET ............. ............................... STATEMENTOF SURPLUS ...... ............................... STATEMENT OF INCOME AND EXPENSE .......................... OPERATINGEXPENSES ........ ............................... ANALYSIS OF CHANGE IN CASH BALANCE ....................... FIXEDASSETS .............. ............................... GENERAL: CASH- ALL FUNDS .......... ............................... SECURITY FOR DEPOSITS ..... ............................... INVESTMENTS................ ............................... TAXABLE VALUATIONS, TAX LEVIES AND RATES ................. OFFICIALBONDS ............ ............................... INSURANCECOVERAGE ........ ............................... ORGANIZATION.............. ............................... 75 76 77 78 79 80 81 82 83 84 85 86 88 ERNST & ERNST FIRST NATIONAL BANK BLDG MINNEAPOLIS, MINN. 55402 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, 1967 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 auditing procedures as we considered necessary in the circumstances. In our opinion, the accompanying balance sheets and statements of revenues and expenditures, income and expense and surplus present fairly the financial posi- tion of the Village of Edina at December 31,'1967 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 3, 1968. -4- ERNST & ERNST F I R S T N AT 10 N A L BAN K B L D G. MINNEAPOLIS, MINN. 55402 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, except the schedules of security for deposits, taxable valuations, tax levies and rates, official bonds, insurance coverage and organization, was derived from the accounting records tested by us as part of the auditing procedures followed in our examination of the aforementioned financial statements and, in our opinion, it is fairly presented in all material respects in relation to the financial statements taken as a whole; however, it is not necessary for a fair presentation of the financial position and results of operations of the Village. The information shown in the schedules of security for deposits, taxable valuations, tax levies and rates, official bonds, insurance coverage, and organization was prepared from information furnished to us by the Village, but we did not make independent tests of the schedules as they do not involve information which enters into the financial statements. The following comments set forth certain auditing procedures and other matters pertinent to our examination: Cash on deposit at.December 31, 1967 was reconciled to balances reported directly to us by the various depositories. Cash working funds and cash on hand for de- posit at December 31, 1967 were counted by us. Cash receipts and cash disbursements procedures were reviewed and tested by us for selected periods during the year to determine that proper procedures were being followed to control recording of receipts and that proper authorization was provided for disbursements. Village of Edina securities held for investment by the several funds of the Village were inspected by us, and related interest income computations were tested. Amounts receivable from water and sewer rental charges at December 31, 1967 were tested by direct correspondence and by review of the records for subsequent col- lections. Differences reported were not material and were explained to our satis- faction. -5- Current and delinquent taxes and special assessments and tax settlements received during the year were confirmed by direct correspondence with the County Auditor. We reviewed delinquent taxes reported to us and adjusted the balances to conform to the County Auditor's balances. Transactions: pertaining to special assessments receivable were reviewed. Interfund transfers:rand charges and interfund balances were reviewed by us. We were present at the municipal liquor stores at the time physical inventories were taken. We observed inventory procedures used by Village employees and tested quantities by independent count of items selected by us. Inventory valuations were tested by reference to vendors' invoices and by tests of clerical accuracy. Additions to and disposals from fixed asset accounts were reviewed by us and veri- fied by inspection of contracts, invoices or other data. Allowances for deprecia tion charged to operating funds of the Village were reviewed by us. We tested accounts payable by direct correspondence and by reference to disburse- ments subsequent to December 31, 1967. All canceled bonds redeemed and paid during 1967 were inspected by us. We inspected interest coupons redeemed and paid during 1967 on a test basis. Official minutes of the Village Council for 1967 were read by us. Copies of licenses and permits issued during the year were tested to recorded col- lections. Recreational facilities, except for equipment, of the Swimming Pool Fund, Golf Course Fund and Recreation Center Fund are not depreciated. COMMENTS ON FINANCIAL STATEMENTS GENERAL FUND Detail schedules reflecting activity and status of this fund are shown on pages 11 to 20, inclusive, of this report. POOR FUND Reference is made to detail schedules elsewhere in this report as to operations of this fund. Such details appear on pages 21 to 23, inclusive. PARK FUND Reference is made to detail schedules elsewhere in this report as to operations of this fund. Such details appear on pages 24 to 28, inclusive. SWIMMING POOL FUND Detail schedules outlining financial operations of this fund are shown on pages 29 to 34, inclusive, of this report. The net income of $0,579.48 is after the provision of $6,715.50 for interest on bonded debt issued for the swimming pool facilities, and the provision of $380.24 for depreciation on swimming pool equipment. GOLF COURSE FUND Net revenues of the Liquor Dispensary Fund are pledged to secure the payment of obligation of the Golf Course Fund. Detail schedules outlining financial opera- tions of this fund are shown on pages 35 to 42, inclusive, of this report. The net income of $34,387.14 is after the provision of $25,871.00 for interest on bonded debt issued for the golf course facilities, and the provision of $4,613.00 for depreciation on golf course equipment. $25,000.00 of the bonded debt matured and was redeemed in.1967. RECREATION:CENTER FUND Net revenues of the Liquor Dispensary Fund are pledged to secure payment of obligation of the Recreation Center Fund. Detail schedules covering operations of this fund appear on pages 43 to 48, inclusive. The net income of $15,531.5&7.is after the provision of $14,126.42 for interest on bonded debt issued for the recreational center facilities and the provision of $2,168.36 for depreciation on recreational center equipment. PARK SINKING FUND Reference is made to detail schedules on pages 49 to 52, inclusive, of this report as to the operations of this fund. PARK CONSTRUCTION FUND Reference is made to detail schedules in this report as to operations of this fund. Such details appear on pages 53 to 57, inclusive. Fixed assets for park purposes amounting to $287,819.63 were purchased during the year. Funds were made available from an.$80,000.00 transfer from the Liquor Dispensary Fund and payment of $65,000.00 from the Golf Course Fund for construction costs transferred to that fund in prior years. In 1967 $3,990.00 of construction costs were incurred by this fund and transferred to the Golf Course Fund. During the year $7,904.13 of construction costs were transferred to the Recreation Center of which $5,466.63 had been incurred by the Park Construction Fund in 1967. 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 58 to 62, inclusive, of this report. Construction costs incurred by the Village, other ,than for park purposes, are ac- counted for in the Construction Fund which receives the proceeds from sale of permanent and temporary bonds sold for construction or improvement purposes by the various improvement funds. Redemption of-:these� bonds is provided for by levies of special assessments on properties benefited from the construction or improvements. To'facilitate tabulation of these special assessments, interest from date of final assessment hearing to December 31st is included as part of project costs. Assess - able costs also include a percentage charge in an amount sufficient to reimburse the Village for actual costs of engineering and clerical services properly assign- able to the various special assessment projects. -7- The reserve for assessment adjustments represents the excess of assessments over actual costs incurred, less charges where actual costs exceeded the assessments. Also charged to the reserve for assessment adjustments are determinable costs for financed projects on which work had not been done and on which final disposition is pending. These balances may be used for refunding canceled assessments. Funds in the amount of $2,000,000 were made available from the sale of General Obligation Improvement Bonds in 1967. The proceeds were used to finance curreng construction. The bonds bear interest at rates from 4.00 to 4.20% and $200,000 of the issue mature on December 1 in each of the•10 years beginning in 1970. The bonds will be redeemed with funds made available from special assessments. WATERWORKS FUND Reference is made to detail schedules elsewhere in-this report as to operations of this fund. Such details appear on pages 63 to 69, inclusive. The net income of $59,641.35 is after the provision of $21,921.00 for interest on bonded debt issued for the waterworks facilities and the provision of $152,805.00 for depreciation on the facilities. $48,000.00 of the bonded debt matured and was redeemed in 1967. SEWER RENTAL FUND Reference is made to detail schedules elsewhere in this report as to operations of this fund. Such details appear on pages 70 to 74, inclusive. LIQUOR DISPENSARY FUND Reference is made to detail schedules elsewhere in this report as to operations of this fund. Such details appear on pages 75 to 80, inclusive. Net income of $310,827.40 for the year is after the provision of $10,882.00 of depreciation on liquor store equipment. Of this amount, $290,000.00 was transferred to other funds of the Village by action of the Village Council. In connection with the sale of Golf Course Bonds of 1963 and Recreation Center,Bonds of 1965 the net revenues of the Liquor Dispensary Fund are pledged to secure the "payment of said bonds and interest thereon. BONDING REQUIREMENTS All Village employees who are required to be bonded by Minnesota statutes were so bonded. PUBLICATION OF FINANCIAL STATEMENTS A detailed financial statement was not prepared and published or posted as required by M. S. A. Section 412.281. , " �- 2'-'� Minneapolis, Minnesota May 3, 1968 ASSETS Cash: Current funds Appropriated Investments: United States Treasury notes and United States Government Agency securities - at face value or:: cost Village of Edina bonds - at face value or cost Land investments - at cost Amount segregated and shown below Receivables: Taxes and special assessments: Current Delinquent Deferred Customers Federal grant - library Due from other funds Miscellaneous receivables Less allowance for delinquent taxes Inventories Prepaid expenses Segregated investments for reserve for debt retirement Construction in progress Fixed assets Unallocated construction costs * Indicates red figure. Total $ 177,762.69 26,829.75 $ 204,592.44 $ 2,753,345.50 226,194.18 5,599.25 $ 2,985,138.93 68,974.00 $ 2,916,164.93 $ 1,481,272.62 349,971.12 7,328,469.23 87,936.20 98,700.00 413,016.31 42,055.30 $ 9,801,420.78 787,339.31 $ 9,014,081.47 332,513.42 23,008.86 68,974.00 4,492,845.41 9,9163,777.34 168,348.63 $27,137,306.50 General- $ 189,454.57 $ 189,454.57 $ 350,000.00 $ 350,000.00 $ 350,000.00 $ 14,311.86 61,951.11 28,065.7.8 98,700.00 5,929.31 42,055.30 $ 251,013.36 61,951.11 $ 189,062.25 10,000.00 163,527.00 1,953,309.32 $2,855,353.14 Poor $14,225.61 $14,225.61 $12,000.00 $12,000.00 $12,000.00 i i FUND BALANCE SHEETS VILLAGE OF ;EDIMA : December 31, 1967 Swimming Recreation Park Park Park Pool Golf Course Center Sinking ,i Construction $ 30,538.95 $ 30,538.95 $ 2,780.00 $ 2,780.00 $ 2,780.00 600.00 $ 5,430.58* $ 10,304.35 $ 5,430.58* $ 10,304.35 489,703.74 211,945.74 $26,225.61 $523;622.69 $206,515.16 $ 31,345.94 $ 28,272.66 $ 31,345.94 $ 28,272:66 $ 18,850.11 $ 18,850.11 $ 50,174.00 $ 303,104.40 $ 50;000.00 Sewer Liquor Improvement Waterworks 10 000.00 $ 16;000.00 $ 50,174.00 $ 30,104.40 $ 60,000.00- $ 162000.00 $ 50,17.4.00 $ 30,104.40 $ 60,000.00 $ 16,000.00 $ 215,683.86 *. $ $ 51,500.00 i j. 5,971.31 $ 74,710.73 1,108.29 $.1,800,000.00 $ 755,000.00 $ 70,292.70 $ 1,400.00 $ 5,256.00 27,194.18 3,048.00 5,599.25 .6,698.87 15,382.50 $ 5,031.81 $ 4,448.00 $ 11,954.87 $822,990.79 $ 5,031.81 $153,118.76 41,433.29 $ 4,448.00 $ 11,954.87 .$781,557.50 ti $ 52031.81 $153,118.76 $ 1,415,460.76 1,829.21 123.20 286,911.72 - 732.48 6,545,403.45 668,526.27 978,598.95 561,549.61 $ 5,6,072.48 7872831.83 $1,043,648.50 $637$16.51 $869,830.16 i $1,496,240.02 I 1 1 -9 -. i Sewer Liquor Improvement Waterworks Rental Dispensary $ 215,683.86* $ i ..;4,797.10* $ 5,971.31 $ 74,710.73 . 26,829.75 $ 215,683.86 *. $ 22,032.65 $ 5,971.31 $ 74,710.73 $.1,800,000.00 $ 276,849.82 $ 70,292.70 $125,924.58 161,000.00 27,194.18 5,599.25 $ 1,966$99.25 $ 276,849.82 $ 70,292.70 $153,118.76 68,974.00 $ 1,966,599,25 $ 207,875.82 $ 70,292.70 $153,118.76 $ 1,415,460.76 286,911.72 6,545,403.45 $ 5,6,072.48 $ 25,207.72 104,454.14 13,075.80 $256,615.88 8,35.211230.07 $ 69,148.28 $. 25,207.72 $256,615.88 $ 683,954.91 i $ 7,668,275.16 $ 69,148.28 $ 25,207.72 $256,615.88 28,445.30 291,638.91 19,164.00 526.00 24.00 2,439.18 68,974.00 3,626,949.54 39,842.60 4,854,043.85 11,812.83 67,981.47 168,,348.63 i $13,227;652.72 $5,29;0.,888.50 $113,308.56 $846,504.93 1 -9 -. LIABILITIES, RESERVES AND SURPLUS Due to other funds Accounts payable Salaries and wages Due to Hennepin County Interest payable Deferred income Construction and other deposits Edina Firemen's Relief Association Construction contracts Minneapolis -Saint Paul Sanitary District Unexpended contributions Reserve for future bond interest Bonds payable Reserve for assessment adjustments Reserve for construction Surplus: Invested in fixed assets Appropriated: For imprest cash For debt service For commitments Unappropriated (deficit) Total General $ 4135,016.31 $ 14,246.80 30111427.58 98,860.79 12,785.46 3,661.32 9,944.60 32,955.02 664.52 7,355.00 105,164.42 66,273.91 19,382.09 19,382.09 608,208.44 95.22 21,407.72 223,910.20 13,141,000.00 65,000.00 66,709.99 64,965.17 8,511,535.04 2,116,836.32 550.00 550.00 184,603.75 337,023.00 337,023.00 3,075,267.49 132,854.39 $27,137,306.50 $2,855,353.14' Poor Park $ 9,746.87 2,213.29 3,292.72 21,407.72 FUND BALANCE-SHEETS (Cont'd) Swimming Pool Golf Course $ 15,382.50 $ 260,667.08 166.89 1,060.29 775,000.00 Recreation Center $101$041.81 9,011.53 1,403.27 4,696.67 7,355.00 450,000.00 Park Park Sinking Construction $ 1,609.00 1,060.00 $ 23,485.00 157,630.00 650,000.00 489,703.74 211,945.74 1131549.61 - 52,300.00 36$00.00 $26,225.61 ( 2,741.65) (' 20,979.97) ( X45,378.87) 15,958.62 38,715.16 $26,225.61 $523,622.69 $206;515.16 $1,043,648.50 $637,516.51 $869,830.16 77,539.22 37,212.92 1,37831818.88 $131496,240.02 I -10- Sewer Liquor Improvement Watertworks Rental Dispensary $ 10,322.25 2,027.69 $ 24;107.67 $130;039.10 $ 32,880.33 755.17 482.68 3,190.30 9,944.60 I; 108.83 38,890.51 i 530,669.22 95.22 66,280.20 10,530,000.00 671,000.00 66,709.99 27,752.25 4,2 2 ,886.45 11,812.83 67,981.47 91,803.75 1,944,960.79 272 226.63 ( 29,026.05) 742,452.83 $13,227,652.72 $5,29q,888.50 $113,308.56 $846,504.93 I -10- GENERAL FUND BALANCE SHEET VILLAGE OF EDINA December-31, 1967 Cash: Demand deposits Time deposits .Working funds Investments - at face value: Federal Intermediate Credit Banks United States Treasury notes Federal National Mortgage Association Certificate Receivables: Accounts receivable Special assessments - current Special assessments - deferred Due from other funds Federal grant - library Supply inventory - estimated ASSETS $ 153,904.57 35,000.00 $ 14,311.86 28,065.78 $ 188,904.57 550.00 $ 200,000.00 100,000.00 50,000.00 $ 42,055.30 42,377.64 5,929.31 98,700.00 Taxes receivable - delinquent $ 61,951.11 Less allowance for delinquent taxes 61,951.11 Fixed assets $1,953,309.32 Construction in progress = library 163,527.00 LIABILITIES AND SURPLUS Due to other funds Accounts payable: Trade accounts Accrued payroll Edina Firemen's Relief Association Designated for Morningside Improvements Contributions to Edina Library Fund Sundry deposits Bonds payable Accrued interest payable Appropriated surplus: Invested in fixed assets Annexed from Morningside - invested in fixed assets Contributed - invested in fixed assets Reserve for commitments For imprest cash Surplus - unappropriated $2,017,923.21 28,050.00 70,863.11 $ 98,860.79 3,661.32 19,382.09 43,152.37 16,190.64 6.930.90 $ 65,000.00 664.52 2,116,836.32 337,023.00 550.00 l $ 189,454.57 350,000.00 189,062.25 10,000.00 2,116,836.32 $2,855,353.14 $ 14,246.80 188,178.11 65,664.52 2,454,409.32 132,854.39 $2,855,353.14 -11- GENERAL.FUND. STATEMENT OF SURPLUS VILLAGE OF EDINA Year Ended December 31, 1967 APPROPRIATED Balance at January 1, 1967 Additions: Transfers from unappropriated surplus: Invested in Contributed I For Imprest For Total Fixed - Assets. Contributed by Annexation Cash Commitments $2,071,863.87 $1,805,300.76 $70,863.11 $ 28,050.00 $ 550.00 $167,100.00 For fixed assets - net 212,622.45 For commitments 169,923.00 'Balance at December 31, 1967 $2,454,409.32 UNAPPROPRIATED Balance at January 1, 1967 .Additions: Revenue - see separate schedule Installment on voting machines Less: Expenditures - see separate schedule Deductions: Transfer to revenue General Fund share of construction costs 212,622.45 I 169,923.00 i $2,017,923.21 $70,863.11 $ : 28,05.0.00 $ 550.00 $337,023.00 $182,483.21 $2,164,222.55 1,624.00 $2,165,846.55 2,095,359.00 70,487.55 $252,970.76 I $ 114,100.00 6,016.37 120,116.37 Balance at December 31, 1967 $132,854.39 d I . i -12- GENERAL FUND ANALYSIS OF CHANGE IN CASH BALANCE VILLAGE OF EDINA Year Ended December 31, 1967 Balance at January 1, 1967 Additions: Receipts - per separate schedule Sale of investments Collections of amounts due others: Waterworks Fund Edina Firemen's Relief Association Collection made on accruals at December 31, 1966 Payments.:received from Independent School District No. 273 for gasoline purchases Contributions to Edina Library Fund Less payments from fund Increase in sundry deposits Deductions: Disbursements - per separate schedule Gasoline purchased for Independent School District No. 273 Charges to accounts receivable Payments on.accruals at December 31, 1966: Accounts payable Accrued payroll Edina Firemen's Relief Association Due to other funds Payment of bonds Purchase of investments Decrease in fund designated for Morningside Improvements Village share of construction costs charged directly to surplus Summary: Demand deposits Time deposits $ 180,916.96 $1,816,852.83 437,107.50 $ 13,075.80 19,832.09 32,907.89 48,510.68 13,547.34 $ 17,547.41 1,356.77 16,190.64 1,550.98 2,366,667.86 $2,547,584.82 $1,727,794.00 16,284.86 7,944.76 $ 52,521.43 2,482.88 16,961.96 13,048.02 85,014.29 13,000.00 500,000.00 2;625.97 6,016.37 . 2,358,680.25 Balance at December 31, 1967 $ 188,904.57 $153,904.57 35,000.00 $188,904.57 -13- GENERAL FUND REVENUE VILLAGE OF EDINA Year Ended December 31, 1967 Receipts Accruals Revenues Real and personal property taxes $1,083,118.00 $1,083,118.00 Other taxes 33,461.00 33,461.00 Bicycle licenses 2,476.00 2,476.00 Beer and liquor licenses 1,455.00 1,455.00 Cigarette licenses 1,407.00 1,407.00 Estimated Revenue $1,096,326.00 35,500.00 2,000.00 1,325.00 1,032.00 Actual Revenue Over- Under* Estimated Revenue $13,208.00* 2,039.00* 476.00 130.00 375.00 Dog and impounding fees 6,766.00 6,766.00 6,000.00 766.00 Food and soft drinks 5,475.00 5,475.00 3,945.00 1,530.00 Gas pump licenses 120.00 120.00 715.00 595.00* Bowling, taxi, pinball, etc. 4,297.00 4,297.00 2,760.00 1,537.00 Heating and ventilating licenses 591.00 591.00 42,000.00 591.00 Water softener installation licenses 135.00 135.00 Contribution from active funds 135.00 Scavenger and garbage collectors 710.00 710.00 595.00 115.00 Building permits 75,106.00 75,106.00 60,050.00 15,056.00 Cesspool and sewer permits 2,871.00 2,871.00 2,500.00 371.00 Plumbing permits 21,811.00 21,811.00 12,000.00 9,811.00 Sign permits 2,504.00 2,504.00 3,500.00 996.00* Other permits and fees 935.00 935.00 606.00 329.00 Heating permits 4,620.00 4,620.00 5,000.00 380.00* Street opening fees 119275.00 1,275.00 900.00 375.00 Planning fees 2,159.00 2,159.00 1,000.00 1,159.00 Engineering, clerical and searches 226,832.00 $ 10,000.00 236,832.00 233,000.00 Police service 3,560.00 2,848.00 6,408.00 7,184.00 Equipment rental ( 912.00) ( 912.00) 2,500.00 Municipal court fines 51,192.00 4,044.00.' 55,236.00 45,000.00 Income on investments 13,312.00 13,312.00 State apportionment - highway 41,520.00 41,520.00 42,000.00 State apportionment - liquor and cigarette 122,288.00 122,288.00 119,739.00 Contribution from active funds 81,283.00 81,283.00 81,283.00 Charges to other funds 14,400.00 14,400.00 14,400.00 Sale of fixed assets 500.00 Discount earned Other revenue Transfer - reserve for commitments Transfer - unappropriated surplus Federal grant - library ( ) Indicates negative amount. 1,260.00 10,825.83 $1,816,852.83 69.00 1,508.72 116,100.00 114,100.00 98,700.00 $347,369.72 1,329.00 12,334.55 116,100.00 114,100.00 98,700.00 $2,164,222.55 7,000.00 116,100.00 114,100.00 98,700.00 $2,117,260.00 3,832.00 776.00* 3,412.00* 10,236.00 13,312.00 480.00* 2,549.00 500.00* 1,329.00 5,334.55 $46,962.55 -14- GENERAL FUND EXPENDITURES VILLAGE OF EDINA Year Ended December 31, 1967 GENERAL GOVERNMENT Mayor and Council Planning Administration: Personal services Contractual services Commodities Fixed charges Finance: Personal services Contractual services Commodities Fixed charges Elections Assessifig: Personal services Contractual services Commodities Fixed charges Legal services Library TOTAL GENERAL GOVERNMENT ADMINISTRATION, ENGINEERING AND PUBLIC WORKS Administration: Personal services Contractual services Fixed charges Engineering: Overhead Project engineering General engineering Public works: Supervision and clerical Training Paid leave General maintenance: General Oil and gravel streets Asphalt streets Concrete streets Disbursements $ 10,276.00 12,943.00 $ 45,451.00 7,247,00 97.00 9,840.00 $ 62,635.00 $ 36,115.00 2,566.00 6.00 7,248.00 $ 45,935.00 3,846.00 $ 43,013.00 1,382.00 649.00 8,208.00 $ 53,252.00 22,352.00 4,283.00 $ 215,522.00 $ 16,332.00 1,062.00 2,532.00 $ 19,926.00 $ 50,220.00 145,742.00 18,738.00 $ 214,700.00 $ 47,399.00 1,672.00 22,144.00 $ 12,716.00 18,298.00 44,922.00 33,785.00 $ 109,721.00 Encumbrances $ 24.00 $ 167.00 $ 167.00 $ 16.00 $ 16.00 $ 30.00 13,270.00 .132.00 $ 13,639.00 $ 27.00* $ 27.00 * $ 115.00 3,077 O(Yr 541.00 $ 2,421.00* $ 33.00 188.00 $ 2,941.00 728.00 201.00 $ 3,870.00 Expenditures $ 10,276.00 12,967.00 $ 45,451.00 7,414.00 97.00 9,840.00 $ 62,802.00 $ 36,115.00 2,566.00 22.00 7,248.00 $ 45,951.00 3,846.00 $ 43,013.00 1,412.00 649.00 8,208.00 $ 53,282.00 35,622.00 '4,415.00 $ 229,161.00 $ 16,332.00 1,035.00 2,532.00 $ 19,899.00 $ 50,335.00 142,665.00 19.279.00 $ 212,279.00 $ 47,432.00 1,672.00 22,332.00 $ 15,657.00 19,026.00 45,123.00 33,785.00 $ 113,591.00 Appropriation $ 10,340.00 14,052.00 $ 45,480.00 7,480.00 ..175.00 9,840.00 $ 62,975.00 $ 36,115.00 2,505.00 25.00 7,248.00 $ 45,893.00 3,932.00 $ 43,360.00 2,321.00 850.00 8,208.00 $ 54,739.00 32,980.00 4,630.00 $ 229,541.00 $ 16,340.00 765.00 2,532.00 $ 19,637.00 $ 50,575.00 144,000.00 23,098.00 $ 217,673.00 $ 47,734.00 2,000.00 22,900.00 $ 13,200.00 19,500.00 45,815.00 34,400.00 $ 112,915.00 Unexpended $ 64.00 1,085.00 $ 29.00 66.00 78.00 $ 173.00 61.00* 3.00 $ 58.00* 86.00 $ 347.00 909.00 201.00 $ 1,457.00 2,642.00* .215.00 $ 380.00 $ 8.00 270.00* $ 262.00* $ 240.00 1,335.00 3,819.00 $ 5,394.00 $ 302.00 328.00 568.00 $ 2,457.00* 474.00 692.00 615.00 $ 676.00* -15- GENERAL FUND EXPENDITURES ( Cont'd) ADMINISTRATION, ENGINEERING AND PUBLIC WORKS ( Cont'd) Public works (cont'd): Street cleaning Renovation Curb and sidewalks Snow and ice removal Street lighting Street name signs Traffic control: Sign maintenance Traffic control maintenance Pavement marking Guard rail maintenance Bridges - general maintenance Storm sewer maintenance Temporary drainage and culverts Village properties: Turf care and plantings Tree maintenance Noxious weed control Lake and pond maintenance TOTAL PUBLIC WORKS TOTAL ADMINISTRATION, ENGINEERING AND PUBLIC WORKS PROTECTION OF PERSONS AND PROPERTY Police protection: Personal services Contractual services Commodities Fixed charges Fire protection: Personal services Contractual services Commodities Fixed charges Civilian Defense Public health: Personal services Contractual services Commodities Fixed charges Disbursements $ 31,337.00 51,649.00 1,255.00 67,944.00 49,614.00 7,318.00 $. 6,967.00 7,176.00 3,230.00 $ 17,373.00 3,522.00 4,937.00 20,301.00 4,994.00 $ 6,476.00 9.321.00 $ 15,797.00 1,380.00 7,092.00. $ 465,449:00 $ 700,075.00 $ 285,019.00 7,306.00 2,860.00 60,960.00 $ 356,145.00 < - '-3,951.00 2;458.00 25;320.00 $ 155,278.00 2,990.00 $ 16,766.00 1,327.00 1,190.00 2.748.00 $ 22,031.00 Encumbrances Expenditures Appropriation $ 113.00 2,487.00 4,055.00 247.00 $ 665.00 254.00 $ 919.00 235.00 392.00 306.00 440.00 $ 31,450.00 51,649.00 1,255.00 70,431.00 53,669.00 7,565.00 $ 7,632.00 7,430.00 3,230.00 $ 18,292..00 3,757.00 5,329.00 20,607.00 5,434.00 $ 32,000.00 52,200.00 1,8401 - 00 71,500.00 54,000..00 8,040'.00 $ 8,000.00 8,000.00 3,500.00 $ 19,500.00 4,160.00 5,420.00 ! 20,891.00 j 5,500.00 $ 6,476.00 $ 6,520.00 $ 78.00 9,399.00 9,440.00 $ 78.00 $ 15,875.00 $ 15,960.00 1,380.00 1,400.00 7,092.00 7,140.00 $ 13,363.00 $ 478,812.00 $ 485,100.00 $ 10,915.00 $ .710,990.00 - $ 722,410.00 i $ 515.00 175.00 530.00 $ 1,220.00 $ 276.00 576.00 $ 852.00 40.00 $ 800.00* 61.00 157.00* $ 896.00* $ .285,534.00 7,481.00 3,390.00 60.960.00 $ 357,365.00 $ 123,549.00 4,227.00 3,034.00 25.320.00 $ 156,130.00 3,030.00 $ 15,966.00 1,388.00 1,033.00 2.748.00 $ 21,135. 00 $ 285,600.00 7,175.00 3,120.00 60.960.00 $ 356,855.00 $ 123,575.00 4,250.00 2,646.00 25.320.00 $ 155,791.00 2,820.00 $ 16,000.00 1,400.00 1,050.00 2.748.00 $ 21,198.00 Unexpended Balance $ 550.00 551.00 585.00 1,069.00 331.00 475.00 $ 368.00 570.00 270.00 $ 1,208.00 403.00 91.00 284.00 66.00 $ 44.00 41.00 $ 85.00 20.00 48..00 $ 6,288.00 $11,420.00 $ 66.00 306.00* 270.00* $ 510.00* $ 26.00 23.00 388.00* $ 339.00* 210.00* $ 34.00 12.00 17.00 $ 63.00 -16- GENERAL FUND EXPENDITURES (Cont'd) PROTECTION OF PERSONS AND PROPERTY'(Cont'd) Animal control Inspections: Personal services Contractual services Commodities Fixed charges TOTAL PROTECTION OF PERSONS AND PROPERTY NON- DEPARTMENTAL Contingencies Settlement of suits Special assessments on Village park property. CENTRAL SERVICES See separate schedule attached CAPITAL OUTLAY Administration - .general government Finance Administration - engineering and public works Engineering Public works Police Fire Public health Inspections Contingencies Special assessments on Village property Unallocated capital outlay Capital improvement RESERVE FOR COMMITMENTS Finance Public works Fire protection Special.assessments on Village property Unallocated capital outlay Capital improvements * Indicates red figure. TOTAL NON- DEPARTMENTAL TOTAL OPERATING EXPENSES TOTAL CAPITAL OUTLAY TOTAL.RESERVE FOR COMMITMENTS TOTAL Disbursements Encumbrances $ 13,739.00 $ 1,189.00 $ 31,022.00 $ 14,928.00 $ 15,100.00 1,940.00 $ 155.00 1,255.00 2,095.00 140.00 5,052.00 1,395.00 1,280.00 $ 39,269.00 $ 295.00 $ 589,452.00 $ 2,700.00 $ 3,577.00 $ 341.00 100.00 $ 892.00* $ 3,918.00 28,013.00 $ 82.00 100.00 $ 31,690.00 $ 341.00 13,374.00 12.00 2,164.00 $1,550,113.00 $ 29,759.00 $ 234.00 625.00 2,131.00 17,649.00 10,867.00 7,192.00 1,715.00 441.00 2,240.00 3,588.00 153.00 130.846.00 $ 177,681.00 $1,727,794.00 $ 42.00 460.00 51.281.00 $ 51,783.00 $ 10,000.00 11,000.00 7,500.00 3,000.00 7,750.00 246,773.00 $286,023.00 $367,565.00 i -17- Unexpended Expenditures .Appropriation Balance $ 14,928.00 $ 15,100.00 $ 172.00 $ 31,022.00 $ 31,064.00 $ 42.00 2,095.00 2,100.00 5.00 1,395.00 1,280.00 115.00* 5,052.00 5,052.00 - $ 39,564.00 $ 39,496.00 $ 68.00* ;$ 592,152.00 ., $ 591,260.00 $ 892.00* $ 3,918.00 $ 4,000.00 $ 82.00 100.00 100.00 - 28,013.00 ; 28,025.00 12.00 $ 32,031.00. i $ 32,125.00 $ 94.00 15,538.00 21,700.00 6,162.00 $1,579,872.00.. - ;; .$1,597,036.00 $17,164.00 $ 234.00 $ 500.00 $ 266.00 42.00 50.00 8.00 625.00 430.00 195.00* 2,131.00 3,900.00 1,769.00 18,109.00 18,400.00 291.00 10,867.00 10,874.00 7.00 7,192.00 7,200.00 8.00 1,715.00 1,445.00 270.00* 441.00 450.00 9.00 2,240.00 3,100.00 860.00 3,588.00 3,625.00 37.00 153.00 2,100.00 1,947.00 182,127.00 182,127.00 $ 229,464.00 .,� $ 234,201.00 $ 4,737.00 $ 10,000.00 $ 10,000.00 $ - 11,000.00 11,000.00 - 7,500.00 7,500.00 - 3,000.00 3,000.00 - 7,750.00 7,750.00 - 246,773.00 246,773.00 - $ 286,023.00 $ 286,023.00 $ - $2,095,359.00 $2,117,260.00 $21,901.00 i -17- GENERAL FUND CENTRAL SERVICES VILLAGE OF'EDINA Year Ended December 31, 1967 General: Contractual services Commodities Village Hall: Personal services Contractual services Commodities Fixed charges Garage Equipment operation: Personal services Contractual services Commodities Fixed charges Gasoline and fuel oil Tires and tubes Lubricants Parts and accessories Less allocations to other departments or funds * Indicates red figure. TOTAL GENERAL TOTAL VILLAGE HALL TOTAL EQUIPMENT OPERATION TOTAL Disbursements $1.61, 314.00 6,665.00 $167,979.00 $ 10,081.00 9,139.00 2,316.00 16,873.00 $ 38,085.00 17,680.00 9,690.00 17,196.00 22,773.00 :.5 , 851.00 2,609.00 26,246.00 $140,130.00 $347,418.00 334,044.00 $ 13,374.00 Encumbrances $6,936.00* 478.00 $6,458.00* $ 377.00 1,561.00 349.00 $2,287.00 2,769.00 $ 622.00 462.00 459.00 55.00* 162.00 177.00 1,739.00 $3,566.00 $2,164.00 $2,164.00 Expenditures $1.54,378.00 7,143.00 $161,521.00 $ 10,458.00 10,700.00 2,665.00 900.00 $ 24,723.00 19,642.00 $ 38,707.00 18,142.00 10,149.00 17,196.00 22,718.00 6,013.00 2,786.00 27,985.00 $143,696.00 $349,582.00 334,044.00 $ 15,538.00 Appropriation $160,830.00 7,300.00 $168,130.00 $ 10,500.00 10,093.00 3,377.00 900.00 $ 24,870.00 19,628.00 $ 38,740.00 18,400.00 10,200.00 17,196.00 22,800.00 6,050.00 2,800.00 26,930.00 $143,116.00 $355,744.00 334,044.00 $ 21,700.00 Unexpended Balance $6,452.00 157.00 $6,609.00 $ 42.00 607.00* 712.00 $ 147.00 14.00* $ 33.00 258.00 51.00 82.00 37.00 14.00 1,055.00* $ 580.00* $6,162.00 $6,162.00 -18- GENERAL FUND FIXED ASSETS VILLAGE 'OF EDINA Year Ended December 31, 1967 Land Land improvements. Buildings Furniture and fixtures Equipment: Highway Police Fire Election Engineering Traffic signals Executive Miscellaneous Construction in progress - library TOTAL Balance January 1, 1967 $ 253,816.24 136,652.38 706,557.67 57,397.59 383,887.17 46,146.82 89,441.05 96,257.93 31,520.86 64,735.18 1,834.15 32,066.83. Additions Deductions $ 22,500.00 3,588.00 3,805,.00 2,459.00 21,309.00 $ 9,175.92 17,117'.00 14,768.00 7,192.00 1,317.00 1 2,347.63 Balance December 31, 1967 $ '276,316.24 140,240.38 710,362.67 59,856.59 396,020.25 48,495.82 96,633.05 96,257.93 30,490.23 64,735.18 1,834.15 32,066.83 3,900.00 159,627.00 163,527.00 $1,904,213.87 $238,914.00 $26,291.55 $2,116,836.32 -19- GENERAL FUND BONDS PAYABLE VILLAGE OF EDINA December 31, 1967 Annual maturities and interest dates Interest rates -20- i i Sanitary Sewer Improvement Sanitary Sewer No. 11 and Sanitary Sewer Sanitary Sewer and Watermain Curb and, Gutter Street Improvement Improvement Improvement, Improvement Improvement Year Total. No. 7 No. 8 No. 9 No. 12 No. 14 June 1 and February l and February,I and February .1 and May 1 and„ December l August 1 August l August 1 November l 4% 3.47° 4% 3.470 3A% 1968 $11,000.00 $2,000.00 $4,000.00 $2,000.00 $ 3,000.00 1969 16,000.00 .4,000.00 2,000.00 3,000.00 $ 7,000.00 1970 10,000.00 23,000.00 3,000.00 5,000.00 1971 8,000.00 3,000.00 5,000.00 1972 5,000.00 5,000.00 1973 5,000.00 5,000.00 1974 5,000.00 5,000.00 1975 5,000.00 5,000.00 $659000.00 �: $2,000.00 r $8,000.00 $6,000.00 i i j I $12,000.00 $37,000.00 -20- POOR FUND BALANCE SHEET VILLAGE OF'EDINA December 31, 1967 ASSETS Cash.on deposit Investments - at face value: Village of Edina - 2.5% Waterworks Revenue Bonds of 1955 -SURPLUS Surplus - unappropriated $14,225.61 .12,000.00 $26,225.61 $26,225.61 -21- Balance at January 1, 1967 Additions: Net income for year 1 POOR FUND STATEMENT OF SURPLUS - UNAPPROPRIATED VILLAGE OF EDINA Year Ended December 31, 1967 Balance at December 31, 1967 STATEMENT OF REVENUES AND EXPENDITURES Revenue receipts and accruals: Tax settlements Relief grants - State of Minnesota Income on investments Disbursements and accruals: Suburban Hennepin County Relief Board: Relief orders Administration Rural Hennepin County Nursing Committee Professional services NET'INCOME $22,646.86 3,578.75 $26,225.61 Year Ended December 31 Increase 1967 1966 Decrease* $140813.53 $129434.74 $ 22378.79 ( 35.00) 35.00 167.50 933.08 765.58* $14,981.03 $13,332.82 $-12648.21 $ 804.86 617.42 9,880.00 100.00 $11,402.28 $ 3,578.75 $ 2,669.33 1,049.08 9,355.02 100.00 $13,173.43 $ 159.39 $ 1,864.47* 431.66* 524.98 $ 1,771.15* $ 3,419.36 -22- POOR.FUND ANALYSIS OF CHANGE'IN CASH BALANCE VILLAGE 'OF EDINA : Year Ended December 31, 1967 Balance at January 1, 1967 Additions: Tax settlements received: March 1967 June 1967 November 1967 Sale of investments Income on investments Deductions: Payment to Suburban Hennepin County Relief Board: Relief orders Administration Rural Hennepin County Nursing Committee Professional service. Payment on accounts payable of December 31, 1966 $ 883.20 7,144.33 6,786.00 $14,813.53 5,000.00 167.50 $ 804.86 617.42 19422.28 9,880.00 100.00 $ 5,846.34 19,981.03 $25,827.37 .199.48 11,601.76 Balance at December 31,11967 $149225.61 -23- PARK FUND BALANCE SHEET VILLAGE OF EDINA December.31, 1967 ASSETS Cash: Demand deposits $ 30,538.95 Receivables: Taxes receivable - delinquent $ 29442.81 Less allowance for delinquent taxes 2,442.81 - Due from other funds 29780.00 Inventory of supplies - estimated 600.00 Fixed assets - on the basis of cost 489,703.74 $523,622.69 LIABILITIES AND SURPLUS Liabilities: Trade accounts payable $ 29213.29 Accrued salaries and wages 3,292.72 Due to other funds 92746.87 Unexpended contributions for specific purposes: Dwight Williams Memorial Park $ 100.00 Wooddale Park - improvements and recreation programs 1,416.31 Cornelia Lake Park improvement ---------- _ - __ - -J - -- - - -- 71 -;00 -- — -- Park District No. 2 69185.00 Park District No. 3 29150.00 Park District No. 4 35,400.00 Park District No. 5 500.00 Figure skating and skiing instructors'salaries 60548.33 Hockey equipment 500.00 Edina Swim Club 146.47 Other 390.61 21,407.72 Appropriated surplus: Invested in fixed assets $2039622.79 Contributed: Property and special assessment paid by General Fund $275,522.29 Property donated by others 10,558.66 286,080.95 4899703.74 Surplus - unappropriated (deficit) ( 2,741.65) $523,622.69 -24- PARK FUND STATEMENT OF UNAPPROPRIATED SURPLUS VILLAGE OF EDINA Year Ended December 31, 1967 Balance at January 1, 1967 $ 4,854.43 Additions: Revenue for year (see separate schedule for details) $179;285.92 Less amount transferred to revenue included in the above 6,000.00 173,285.92 $1782140.35 Deductions: Expenditures for year, including $7,850.00 for capital outlay for fixed assets (see detail schedule) 180,882.00 Balance (deficit) at December 31,.1967 ($ 2,741.65) ANALYSIS OF SURPLUS INVESTED IN FIXED ASSETS Balance at.January 1, 1967 Additions for the year: Contributed By General Fund by Payment of Special Combined Assessments By Others $456$17.84 .$2472508.80 $ 102558.66 Direct Investment in Fixed $198,250.38 From unappropriated surplus 7,850.00 79850.00 Special assessments paid by General Fund 28,013.49 28,013.49 $4920181.33 $275,522.29 $ 10,558.66 $2069100.38 Deduct: Fixed assets traded in 2.477.59 2,477.59 Balance at December 31,'1967 $489,703.74 $275,522.29 $ 109558.66 $2039622.79 -25- PARK FUND ANALYSIS OF CHANGE IN CASH BALANCE VILLAGE OF EDINA Year Ended December 31, 1967 Balance at January 1, 1967 Additions: Receipts for year (see separate schedule for details) Registration fees - figure skating and.skiing Dedicated funds:, Hockey program $ 500.00 Miscellaneous 350.00 Deductions: Disbursements for year (see separate schedule for details) Expenses - figure skating and skiing Payment on accruals at December 31, 1966: Trade accounts Accrued salaries and wages Increase in amount due from .other funds Payment to construction fund Payment from dedicated funds Other $1759411.27 18,945.88 850.00 $173,333.00 11,837.18 $ 302732.97 195,207.15 $2252940.12 $2,079.81 2,241.88 49321.69 2,780.00 1,400.00 1,087.00 642.30 195,401.17 Balance at December 31, 1967 $ 30,538.95 -26- PARR FUND REVENUE AND EXPENDITURES VILLAGE OF EDINA Year Ended December 31, 1967. REVENUE Real and personal property taxes Registration fees Transfer from active funds Transfer from unappropriated surplus Other revenue EXPENDITURES Administration: Personal services Contractual services Commodities Central services Training Paid leave Capital outlay Recreation: Baseball and softball Skating and hockey Tennis instruction Playgrounds Swimming instruction. Special activities Maintenance: Mowing Special turf care Planting and trees Litter removal Parking areas Building and equipment. Skating rinks ( ) Indicates red figure. TOTAL REVENUE Receipts $ 85,886.00 25;447.00 6.3;717.00 '361.27 $175.;411.27 Disbursements $ 25;005.00 1;390.00 2.00 14;892.00 :421.00 6,139.00 TOTAL ADMINISTRATION $.47;849.00 TOTAL RECREATION TOTAL MAINTENANCE TOTAL EXPENDITURES 7;526.00 $ 3;831.00 5,1234.00 1, 52'8:00 11;868:00 .14;319.00 3,1616.00 $ 40 2396.00 $ 10,584.00 12,.940.00 3;948.00 4,344.00 1,107.00 18,971.00 :25,668.00 $ 77,.562.00 $173,333.00 Accruals .($3,048.00) 6,000.00 922.65 $3,874.65 Encumbrances $ 188.00 $ 188.00 324.00 $1,932.00 23.00 $1,955.00 $1,400.00 895.00 2,787.00 5 082.00 $7,549.00' $ 85,886.00 22,399.00 63,717.00 6,000.00 1,283.92 $179,285.92 Expenditures $ 253005.00 1,578.00 2.00 14,892.00 421.00 6.139.00 $ 48.,037.00 7,850.00 $ 3,831.00 7,166.00 1,528.00 11,891.00 14,319.00 3,616.00 $ 42,351:00 $ 10,584.00 14,340.00 3,948.00 4,344.00 1,107.00 19,866.00 .28,455.00 $ 82,644.00 $180,882.00 Estimated Revenue $ 86.3900.00 22.,000.00 63,717.00 6,000.00 1,000.00 $179,617:00 AbDropriation $ 25 3-035.00 1;585.00 125.00 14_;892.00 +200.00 7.317.00 $ 49,154.00 7:,,400.00 $ °3;850.00 7;050.00 1$550.00 11,900.00 14,325.00 3,625.00 $ 42 300.00 $.10$99.00 14;345.00 .3,, 950.00 4$50.00 1,115.00 22;439.00 23,965.00 $ 80,7;63.00 $179 ;617.00 Actual Revenue Over- Under* Estimated Revenue $1,014.00* 399.00 283.92 $ 331.08* Unexpended "Balance $ 30.00 7.00 123.00 ( 221.00) 1,178.00 $1,117.00 ( 450.00) $ 19.00 ( 116.00) 22.00 9.00 6.00 9.00 ($ 51:00) $ 15.00 5.00 2.00 6.00 8.00 2,573.00 ( 4,490.00) ($1,881.00) ($1,265.00) -27- PARK FUND FIXED ASSETS VILLAGE OF EDINA Year Ended December 31, 1967 Balance Balance January 1, December 31, 1967 Additions. Deductions 1967 Land $ 90,806.64. $ 90,806.64 Skating rinks 59812.03 1 5,812.03 Land improvements 2649629.25 $289013.49 2929642.74 Building 4,042.32 43,042.32 Park equipment 469674.02 1,460.00 $ 403.59 47,730.43 Furniture, fixtures and equipment 29224.78 234.00 29458.78 Trucks, automobile and tractors 309349.29 5,106.00 29074.00 339381.29 Miscellaneous 5,276.32 19050.00 62326.32 $4490814.65 $350863.49 $29477,.59 $4839200.55 Construction in progress: 131.26 131.26 52nd and Arden 50th and Wooddale 2,324.85 29324.85 East Mirror Lake 32785.72 3,785.72 57th and Chowen 261.36 261.36 TOTAL $456,317.84 $35,863.49 $29477.59 $489,703.74 -28- SWIMMING POOL FUND BALANCE SHEET VILLAGE OF EDINA December 31, 1967 ASSETS Cash (deficit) Fixed assets - at cost: Land Swimming pool and bathhouse Filter system Concession furniture and fixtures Less-allowance for depreciation LIABILITIES AND SURPLUS Payables: Trade accounts Due to Park Sinking Fund Surplus invested.in fixed assets: Acquired by bonds Acquired by,surplus Donated Unappropriated surplus (deficit) ($ 5,430.58) $ 10.,000.00 .1842026.67 17,000.00 $3,802.37 29883.30 919.07 211,945.74 $206,515.16 $ 166.89 15,382.50 $ 15,549.39 $209,431.89 2,463.85 50.00 211,945.74 ( 20,979.97) $2069515.16 -29- SWIMMING POOL FUND STATEMENT OF SURPLUS VILLAGE OF EDINA Year Ended December 31, 1967 * Indicates red figure. -30- Invested in Fixed Assets Unappro- From From Total priated Donated. Surplus Bond Fund Balance at January.l,.1967 $193,053.29 $19,272.69* $50.00 $2,844.09 $209,431.89 Additions and transfers: Net :income for the year 6,579.48 61579.48 Interest provided for at December 31, 1966 included in operations 69715.50 69715.50 Provision for depreciation - 380.24 380.24* $206,348.27 $ 59597.47* $50.00 $22463.85 $209,431.89 Deduct: Allocation to Sinking Fund for bonds 15,382.50 15,382.50* Balance at December 31, 1967 $190,965.77 $209979.97* $50.00 $2,463.85 $209,431.89 * Indicates red figure. -30- SWIMMING POOL FUND ANALYSIS OF CHANGE IN CASH BALANCE VILLAGE OF EDINA Year Ended December 31, 1967 Balance (deficit) at January.l, 1967 ($ 33538.91) Additions: Pool fees $43,741.00 Concession.income (see separate schedule) $1,937.76 Add provision for depreciation not requiring cash 380.24 22318.00 Other revenue 1,269.22 47,328.22 $43,789.31 Deductions: Operating expense (see separate schedule) $33,653.00 Less accounts payable at December 31,-1967 166.89 $33,486.11 Payment made on accruals at December 31, 196= = 15,733.78 49,219.89 Balance (deficit) at December 31, 1967 ($ 5,430.58) -31- SWIMMING POOL FUND STATEMENT OF INCOME AND EXPENSE VILLAGE OF EDINA Year Ended December 31, 1967 Revenues: Pool fees: Season tickets $3810676.00 General admissions 5,065.00 $432741.00 Rental - instruction program .12251.00 Other 18.22 $45,010.22 Operating.expenses: Salaries and wages: Supervision and clerical $3,420.00 Life guards 9,247.00 Cashier 12128.00 Basket room attendants 32177.00 Watchmen 19039.00 Maintenance 3,288.00 $219299.00 Light and power 12440.00 Water and sewer 725.00 Gas 12217.00 Telephone 144.00 Rubbish hauling 150.00 Insurance 173.00 Repairs and maintenance 682.00 Replacement and renewals - water treatment equipment 12501.00 Cleaning supplies 325.00 Water treatment 19744.00 General supplies 12313.00 Annual audit 100.00 Printing and office expense 461.00 Central services 22340.00 Other 39.00 33,653.00 $11,357.22 Interest on bonds 69715.50 $ 4,641.72 Income from concessions - see separate schedule 1,937.76 NET INCOME FROM OPERATION $ 62579.48 n -32- SWIMMING POOL FUND STATEMENT OF INCOME AND EXPENSE (CONCESSIONS ONLY) VILLAGE OF EDINA Year Ended December 31, 1967 Operating expenses: Salaries and wages :. Manager $ 747.00 Clerk 1,116.00 $19863.00 Supplies 387.00 Repairs and maintenance 163.00 Provision for depreciation 380.24 2,793.24 NET'INCOME $12937.76 -33- Gross Profit Cost of Per Cent Sales Sales Amount to Sales Soft drinks $10152.00 $ 788.00 $ 364.00 31.59% Soft ice cream 22909.00 1,311.00 1,598.00 54.93 Popcorn 219167.00 476.00 1,691.00 _ 78.03 Sandwiches 391.00 220.00 171.00 43.73 Cakes 1,692.00 1,115.00 577.00 34.10 Other 647.00 317.00 330.0.0 51.00 $82958.00 $49227.00 $40731.00 52.81% Operating expenses: Salaries and wages :. Manager $ 747.00 Clerk 1,116.00 $19863.00 Supplies 387.00 Repairs and maintenance 163.00 Provision for depreciation 380.24 2,793.24 NET'INCOME $12937.76 -33- SWIMING POOL FUND FIXED ASSETS VILLAGE'OF EDINA Year Ended December 31, 1967 ASSETS Land Swimming pool and bathhouse Filter system Concession furniture and equipment ALLOWANCE FOR DEPRECIATION Concession furniture and equipment Balance Balance January 1, December 31, 1967 Additions 1967 $ 10,000.00 184,026.67 .17V000.00 3,802.37 $ 101000.00 184,026.67 17,000.00 3,802.37 $214,829.04 $ - $214,829.04 2,503.06 $380.24 29883.30 NET BALANCE $212,325.98 $211,945.74 -34- GOLF COURSE FUND BALANCE SHEET VILLAGE OF EDINA December 31, 1967 ASSETS Cash: On deposit Working:funds Investments: Federal National Mortgage Association - at cost Accrued interest Accounts receivable Due from .other funds Prepaid expenses Fixed assets - at cost: Golf course Buildings Well Parking lot and roadways Equipment Less allowance for depreciation LIABILITIES AND SURPLUS Accounts payable Due to other funds Loan from .Liquor Dispensary Fund Bonds payable Appropriated surplus - for debt service Surplus — deficit* - unappropriated $:109254.35 50.00 $ 50,000.00 174.00 $7265,414.02 182,906.82 15,018.15 9,627.32 $641058.38. 19,425.74 44,632.64 $ 10,304.35 50,174.00 1,400.00 3,048.00 123.20 978,598.95 $1,0439,648.50 $ 1,060.29 10,667.08 250,000.00 775,000.00 52,300.00. 45,378.87* $1,0439648.50 -35- GOLF COURSE FUND STATEMENT OF SURPLUS VILLAGE OF EDINA Year Ended December 31, 1967 Appropriated for Debt Service Unappropriated Balance (deficit) at January 1, 1967 $523,300.00 ($79,766.01) Add net income for the year 34,387.14 Balance (deficit) at December 31, 1967 $522300.00 ($45,378.87) -36- r' GOLF COURSE FUND ANALYSIS OF CHANGE IN CASH BALANCE VILLAGE OF EDINA Year Ended December 31, 1967 Balance at January 1, 1967 Additions: Investments.sold Revenue - see separate schedule Net.income - operating:departments - see' separate schedule Add depreciation included therein not requiring cash Income on.investments Decrease-in prepaid expenses Increase in liabilities: Balance at December, 312 1967: Accounts payable $ 12060.29 Due to other funds 10,667.08 Balance at January 1,,1967: Accounts payable $ 825.25 Due to other funds 69542.00 Accrued payroll 48.48 Deductions: Investments purchased Fixed assets purchased, less carrying value of disposals Payment to fiscal agent: Principal Interest Service charge Interest paid Liquor Dispensary. Fund Operating expenses - see separate schedule Increase in accounts receivable: Balance at December 31, 1967 Balance at January 1, 1967 Increase.in. amount due from other funds $16,839.00 1,858.00 $11,727.37 $ 47,851.25 148,680.14 18,697.00 3,351.00 84.80 7,415.73 49311.64 $25,000.00 25,775.00 96.00 $502871.00 6,475.00 $ 1,400.00 1)ia no $ 509174.00 7,398.72 57,346.00 97,524.00 1,181.92 $ 3,951.16 222,975.83 $226,926.99 . 3,048.00 2162672.64 Balance at December 31, 1967 $ 109254.35 -37- GOLF COURSE FUND STATEMENT OF ' INCOME AND EXPENSE VILLAGE OF EDINA Year Ended December 31, 1967 Revenue: Membership fees Green fees: Regular course Short course Locker rental Other Operating expenses: Administration: Salaries and wages: Manager - pro Rangers and starter Cashiers, clerical and other Audit Printing Supplies Insurance and alarm system Retirement, insurance, office supplies, etc. Travel and mileage Other Building - club house and pro shop: Salaries and wages Utilities: Telephone Water and sewer Fuel Light and power Laundry Rubbish hauling Less amount charged to grill Insurance Repairs - heating and plumbing Repairs and replacement - building Supplies Other $1,227.00 144.00 .1,128.00 1,074.00 805.00 480.00 $4,858.00 1,457.00 $111,993.00 18,676.00 $ 6,800.00 4,199.00 2,409.00 $13,408.00 450.00 1,347.00 196.00 573.00 6$00.00 67.00 412.00 $ 22,753.00 $ 2,689.00 - 3,401,.00 150.00 449.00 1,895.00 951.00 sF% nn 9$91.00 $ 162245.00 130,669.00 1,300.00 466.14 $1482680.14 -38- GOLF COURSE FUND STATEMENT OF'INCOME AND EXPENSE ( Cont'd) Operating expenses (cont'd): . Maintenance of course and grounds: Salaries and wages: Superintendent $ 89520.00 Maintenance 27,682.00 $36,202.00 Equipment rental 290.00 Telephone 222.00 Light and power 39577.00 Fuel 308.00 Fertilizer and chemical 6,979.00 Sod, black dirt and seed 19088.00 Blacktop, sand and gravel 703.00 Repairs - water system 650,00 Repairs - building 348.00 Lumber 580.00 Equipment operation 122000.00 Supplies 19424.00 Loss on trade -in of.fixed assets 789.00 Other 20.00 $ 65,180.00 $ 97,524.00 $ 51,156.14 Net income - operating departments - see separate schedule $ 169839.00 Income on investments 3,351.00 20,190.00 INCOME BEFORE INTEREST AND DEPRECIATION $ 71,346.14 Interest expense: On bonds On loan from Liquor,Dispensary Fund Provision for depreciation $ 25,871.00 6,475.00 INCOME BEFORE DEPRECIATION NET INCOME 32,346.00 $ 39,000.14 4,613.00 $ 34,387.14 -39- GOLF COURSE FUND STATEMENT OF INCOME AND EXPENSE - OPERATING DEPARTMENTS VILLAGE OF EDINA Year Ended December 31, 1967 Driving range: Revenue Less.operating expenses: Salaries and wages Rental equipment Replacement - balls Other supplies Provision for depreciation Grill: Sales: Food Beer Other Less cost of goods sold: Food Beer Less operating expense: Salaries and wages: Manager Cooks, waiters and waitresses Insurance — liability Dishes, napkins, tools, etc. Repair work Cleaning supplies Expenses — prorated Provision for depreciation Village share of pro -shop profit in lieu.of rents $18,290.00 $ 4,495.00 30.00 2,237.00 584.00 888.00 8,234.00 $10,056.00 $25,693.00 10,380.00 414.00 $36,487.00 $12,737.00 3,536.00 16,273.00 $20,214.00 $ 3,265.00 8,058.00 $11,323.00 261.00 1,400.00 79.00 141.00 1,457.00 15,631.00 4,583.00 2,200.00 NET INCOME $162839.00 -40- GOLF COURSE FUND I FIXED ASSETS VILLAGE OF EDINA Year Ended December 319 1967 Balance January 'l, Transfer 1967 . Additions Deductions In Out ASSETS Golf course $7229424.02 $3,990.00 Buildings: I Club house $1730538.75 $663.51 Maintenance building 69491.92 Range building 2,212.64 $182;243.31 $ - $ - $663..51 Well 15,018.15 Parking lot and roadways 92627.32 Equipment: Golf course equipment $ 35,139.97 .. $4,619.00 $29105.00 Club house equipment 89100.91 Pro -shop equipment 29446.19 Range equipment 69160.93 Concession equipment .99696.38 $ 61544..38 $4,.619.00 $2,105.00 $990;857.18 $8,609.00 $2,105.00 $663.51' Construction in progress ';296.00 367.51 �. (.,663.51) $991,153.18 $8,976.51 $2, ALLOWANCE FOR DEPRECIATION Golf course equipment $ 79634.23 $39639.70 $ 5261.25 Club house equipment 19255.94 728.48 Pro -shop equipment 529.95 244.63 Range equipment 19734.89 887.59 Concession equipment 2;326.94 969..64 $ 139481_.95 $69470.04 $ 526.25 $ - NET BALANCE $977.2671.23 Balance December 31, 1967 . $7260414.02 $174,202.26 6,491.92 2,212.64 $1820906.82 15,018.15 9,627.32 $ 37,653.97 8,100.91 2,446.19 6,160.93 9,696.38 $ 64,05 .38 $9989024.69 $999,024.69 $ 109747.68 1,984.42 774.58 2,622.48 3,296.58 $ 199425.74 $978,598.95 -41- GOLF COURSE FUND BONDS PAYABLE VILLAGE OF'EDINA December 31, 1967 Annual.maturity and interest date December l and June l Interest rate 2.5% to 3.5% Year 1968 $'25,000.00 1969 25,000.00 1970 25,000.00 1971 35;000.00 1972 35,000.00 1973 35,000.00 1974 35,000.00 1975 35,000.00 1976 35,000.00 1977 40,000.00 1978 40,000.00 1979 40,000.00 1980 40,000.00 1981 40,000.00 1982 40,000.00 1983 50,000.00 1984 50,000.00 1985 50,000.00 1986 50,000.00 1987 50,000.00 TOTAL $775,000.00 -42- RECREATION.CENTER FUND BALANCE SHEET VILLAGE OF EDINA December 31, 1967 ASSETS Cash: On deposit Working fund Investments: Federal.National Mortgage Association - at cost Accrued interest Accounts receivable Due from other funds Merchandise inventory - at cost Prepaid insurance Fixed assets - on the basis of cost: Land improvements Building Furniture and equipment Less allowance for depreciation $ 30,345.94 1,000.00 $ 30,000.00 104.40 $ 32,185.72 511,143.34 $ 31,345.94 30,104.40 5,256.00 6,698.87 1,829.21 732.48 $22,769.77 4,549.22 18,220.55 561,549.61 $637,516.51 LIABILITIES AND 'SURPLUS Accounts payable Accrued payroll Accrued interest Due to'Park Construction Fund Due to Permanent Improvement Revolving Fund Deferred income Bonds payable Appropriated surplus: Contributed invested in.fixed assets Invested in fixed assets For debt service Unappropriated surplus $ 1,041.81 100,000.00 $ 8,308.50 3,241.11 $ 11,549.61 36,500.00 $ 9,011.53 1,403.27 4,696.67 101,041.81 $1163,153.28 7,355.00 450,000.00. 48,049.61 15,958.62 $637$16.51 -43- RECREATION CENTER FUND STATEMENT OF SURPLUS VILLAGE OF EDINA Year Ended December 31, 1967 Unappropriated Balance at January 1, 1967 $ -214.51* Additions: Net income for year 15,531.58 Fixed assets purchased 485.00* Receipt of advance to Park Construction Fund 6,862.32 Transfers Fixed assets from Park Construction 7,904.13* Provision for depreciation 2_,168.36 Balance at December 31, 1967 $154;958.62 * Indicates red figure. ADDrovriated Contributed Invested in Invested in For Debt Fixed Assets Fixed Assets Service Total $2,774.86 $9,416.30 $36,500.00 $48,691.16 485.00 6,862.32* 7,904.13 1,060.56* $3,241.11 1,107.80* $8,308.50 $36,500.00 485.00 6,862.32* 7,904.13 2,168.36* $48,049.61 -44- RECREATION.CENTER FUND ANALYSIS OF CHANGE IN CASH BALANCE VILLAGE OF EDINA Year Ended.December 31, 1967 Balance at January 1, 1967 $46,302.04 Additions: .Excess of revenue over expenses - see separate schedule $15,531.58 Add depreciation included therein not requiring cash 2,168.36 $17,699.94 Decrease in due from other funds 163.45 Decrease in prepaid expenses 825.87 Increase in liabilities: Balance at December 31, 1967: Accounts payable $9,011.53 Accrued payroll 1,403.27 Due to other funds 1,041.81 $11,456.61 Balance at January 1, 1967: Accounts payable $5,415.63 Accrued payroll 364.00 5,779.63 5,676.98 24,366.24 $70,668.28 Deductions: Purchase of investments Additions to fixed assets Increase in working fund Increase in accounts receivable Increase in merchandise inventory Decrease in deferred income $30,104.40 8,389.13 300.00 291.00 49.81 1,188.00 40,322.34 Balance at December 31, 1967 $30,345.94 -45- RECREATION.CENTER.FUND STATEMENT OF INCOME AND EXPENSE VILLAGE OF EDINA Year Ended December 31, 1967 Revenues: Season tickets Daily fees Spectator fees Ice rental Skate sharpening and repair Other Concession income Less operating expenses: Cost of food sold Salaries and wages Supplies and expense Less operating expenses: Salaries and wages: Manager Supervision Ice guard Cashier and ticket takers Clerical Custodian Maintenance Organist i Other expenses: Light and power Fuel and heat Central services Equipment maintenance Service contract equipment Lumber and paint Mileage and conference expense Telephone Printing Supplies Insurance Advertising Rubbish hauling Other Income on investments Interest on bonds Provision for depreciation $16,633.00 $ 4,783.00 3,399.00 263.00 8,445.00 $ 7,650.00 8,602.00 1,707.00 3,196.00 1,451.00 6,552.00 12,596.00 1,290.00 $43,044.00 $10,152.00 9,401.00 5,160.00 4,868.00 851.00 2,511.00 651.00 930.00 1,707.00 6,207.00 1,131.00 542.00 600.00 866.64 45,577.64 INCOME BEFORE,DEPRECIATION NET INCOME $ 17,251.00 10,197.00 21,720.00 56,804.00 5,165.00 1,019.00 8,188.00 $120,344.00 88,621.64 $ 31,722.36 104.00 $ 31,826.36 14,126.42 $ 17,699.94 2,168.36 $ 15,531.58 -46- ASSETS Land Building Furniture and equipment ALLOWANCE FOR.DEPRECIATION Furniture and equipment RECREATION.CENTER FUND :'FIXED ASSETS VILLAGE , OF • ED INA Year Ended.December 31, 1967 Balance January 1, 1967 $ 32,185.72 504,926.71 20,597.27 $557,709.70 2,380.86 NET BALANCE $555,328.84 $2,168.36 4,549.22 $561,549.61 -47- alance 2wember 31, Additions 1967 $ 32,185.72 $6,216.63 5113,143.34 2,172.50 22,769.77 $831389.13 $56631098.83 $2,168.36 4,549.22 $561,549.61 -47- Annual maturity and interest date Interest rate Year 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 RECREATION CENTER FUND BONDS PAYABLE VILLAGE OF EDINA December 31, 1967 March 1 and September 1 3% to 3% 3.3% Series A Series B Total $ 10,000.00 $ 5,000.00 $ 15,000.00 10,000.00 5,000.00 15,000.00 10,000.00 5,000.00 15,000.00 10,000.00 5,000.00 15,000.00 10,000.00 5,000.00 15,000.00 20,000.00 10,000.00 30,000.00 20,000.00 10,000.00 30,000.00 20,000.00 1031000.00 30,000.00 20,000.00 10,000.00 30,000.00 20,000.00 10,000.00 30,000.00 30,000.00 15,000.00 45,000.00 303,000.00 15,000.00 45,000.00 30,000.00 15,000.00 45,000.00 30,000.00 15,000.00 45,000400 30,000.00 15,000.00 45,000.00 TOTAL $300,000.00 $150,000.00 $450,000.00 -48- PARK SINKING FUND BALANCE SHEET VILLAGE OF EDINA December 31, 1967 ASSETS Cash: Demand deposits Investments.- at face value: Edina Park System Bonds United States Treasury bills Receivables: Due from Swimming Pool Fund Taxes receivable - current and delinquent Taxes receivable - deferred Less allowance for delinquent and uncollectible taxes LIABILITIES, RESERVE AND SURPLUS Amount payable during 1968: Interest Bonds Bonds payable Less current portion - shown above Reserve for future interest Less current portion - shown above Surplus - unappropriated $ 10,000.00 50,000.00 $ 15,382.50 $ 52,608.29 755,000.00 $807,608.29 $ 28,272.66 60,000.00 41,433.29 766,175.00. 781,557.50 $650,000.00 40,000.00 $181,115.00 23,485.00 $869,830.16 $ 23,485.00 40,000.00 $ 63,485.00 610,000.00 157,630.00 38,715.16 $869,830.16 -49- PARK SINKING FUND STATEMENT OF SURPLUS VILLAGE OF EDINA Year Ended December 31,1967 Balance at January 1, 1967 Additions: Income on investments Transfers: Reserve for future interest Reserve for uncollectible taxes Less portion allocated to Swimming Pool Fund Deductions: Allowance for delinquent taxes Payment to fiscal agents: Interest Service charge Balance at December 31, 1967 $24,835.00 $4,515.00 $ 459.24 $35,667.72 1,117.50 3,397.50 28,232.50 •28,691.74 $64,359.46 $ 1,459.89 $24,073.00 111.41 24,184.41 25,644.30 $38,715.16 -50- �i PARK SINKING FUND ANALYSIS OF CHANGE IN CASH BALANCE VILLAGE OF EDINA Year Ended December 31, 1967 Balance at January 1, 1967 Additions: Tax settlements received from county: March 1967 $ 3,187.50 June 1967 242745.30 November 1967 23,507.31 Income.on investments Payment' recei-�red -on.:,.amounta: due from . other funds at December 31, 1966 Deductions: Purchase of investments Payment to fiscal agents: Principal $40,000.00 Interest 24,073.00 Service charge 111.41 Balance at December 31, 1967 $51,440.11 459.24 . 15,715.50 $50,000.00 $ 7411842.22 67,614.85 $1422457.07 . 64,184.41 114,184.41 $ 28,272.66 -51- PARK SINKING FUND BOND AND INTEREST MATURITIES AND DEFERRED TAX LEVIES VILLAGE OF EDINA December 31, 1967 Annual maturity and interest date Interest rates Year 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 TOTAL *.IndicAtes' red figure.. Bonds $ 40,000.00 40,000.00 40,000.00 50,000.00 50,000.00 50,000.00 50,000.00 40,000.00 50,000.00 50,000.00 50,000:00 50,000.00 50.000.00 $6103P000.00 March 1, June 1, September 1, and December 1 2% to 3.90% Excess of Deferred Levies over Bond and Interest Interest Maturities $ 22,135.00 20,755.00 19,375.00 17,810.00 16,040.00 14,230.00 12,380.00 10,530.00 8,775.00 6,825.00 4,875.00 2,925.00 975.00 $157,630.00 $ 6,865.00 9,245.00 10,625.00 3,190.00 5,960.00 7,770.00 10,620.00 12,470.00 5,225.00 8,175.00 11,125.00 52,925.00* 50,975.00* .$12,630.00* Deferred Levies $ 695P000.00 70,000.00 70,000.00 71,000.00 72,000.00 72,000.00 73,000.00 63,000.00 64,000.00 65,000.00 66,000.00 $755,000.00 -52- PARK CONSTRUCTION FUND BALANCE SHEET VILLAGE OF EDINA December 31, 1967 ASSETS Cash: On deposit Investments: Edina Park System Bonds - at face value Receivable: Due from other funds Fixed assets - at cost: Land Construction in progress Equipment LIABILITIES, RESERVE AND SURPLUS Trade accounts payable Due to other funds Contracts payable for puchases of land Surplus invested in fixed assets Reserve for construction $ 18,850.11 16,000.00 5,031.81 $767,345.10 668,526.27 20,486.73 1,456,358.10 $1,496,240.02 $ 1,060.00 1,609.00 77,539.22 1,378,818.88 37,212.92 $1,496,240.02 -53- PARK_ CONSTRUCTION FUND ' ANALYSIS OF RESERVE FOR CONSTRUCTION VILLAGE OF EDINA Year Ended.December,31, 1967 Balance at January 1, 1967 Additions: Transfer from-Liquor Dispensary Fund Deductions: Sale of investments Purchase-of fixed assets Transfer to Golf-Course Fund Transfer to Recreation Center Fund $165,234.58 80,000.00 $245,234.58 $ 178.75 195,948.78 $3,990.00 7,904.13 11,894.13 208,021.66 Balance at December 31, 1967 $ 37,212.92 -54- PARK CONSTRUCTION FUND ANALYSIS OF CHANGE IN CASH BALANCE VILLAGE -OF EDINA Year Ended December 31, 1967 Balance at January 1, 1967 Additions: Transfer from-.Liquor.Dispensary-Fund Payment from Golf Course Fund Sale of investments Increase in liabilities: Balance at-December-31, 1967: Accounts payable Due to Park Fund Contracts payable Balance at January 1, 1967 Deduction: Purchase of fixed assets $ 43,544.40 $80,000.00 65,000.00 49,821.25 $ 1;060.00 1,609.00 77,539.22 $80,208.22 2,447.50 77,760.72 272,581.97 $316,126.37 297,276.26 Balance at December 31, 1967 $18,850.11 -55- PARK CONSTRUCTION FUND FIXED ASSETS VILLAGE OF EDINA December 31, 1967 Land: Garden Park Braemar Park Cornelia School Park Pamela Park Alden Park Beard Park Arden Park Countryside Park Lake Edina Park York Park Birchcrest Park Division Park Normandale Park Walnut Ridge Park Heights Park Valley View School site Creek Valley School Park Mud Lake area Cornelia Park Construction in progress: Utley Park Chowen Park Cornelia Park Pamela Park Arden Park Normandale'Park Alden Park Highlands-Park York Park McGuire Park Beard Park Cornelia School Park Lake Edina Park Countryside Park Braemar Park Division Park Valley View School site $ 15,007.09 221,749.65 12,639.48 2,440.00 23,506.60 26,715.00 1,250.00 :18,300.00 30,330.00 7,369.21 11,620.22 ,7,942.65 16,594.04 3,466.84 23,537.13 1,217.55 28,809.53 236,640.62 78,209.49 $:22,041. 23 . 5,, 645.77 44,872.45 177,313.19 17,629.22 45,543.57 30,576.10 58,122.22 7,647.36 2,836.17 12,983.64 41,439.64 18,352.75 21,362.64 31,926.91 32,448.96 8,696.96 $ 767,345.10 -56- Construction in progress (cont'd): Garden Park Walnut Ridge Park Heights Park Creek Valley School Park St. John's Park Tingdale Park Birchcrest Park Bristol Park. Nine Mile Creek Parkway Sherwood Pump Park Mud Lake.area Equipment PARK CONSTRUCTION FUND FIXED ASSETS ( Cont'd) SUMMARY OF CHANGES IN FIXED ASSETS $ 42,118.02 7,576.15 25,041.11 530.00 733.33 2,780.28 1,693.67 3,863..50 2,800.92 700.51 1,250.00 $ 668,526.27 20,486.73 TOTAL $1,456,358.10 Balance at January 1, 1967 $1,170,975.97 Purchase of fixed assets 297,276.26 $1,468,252.23 Deduct: Transfer to Recreation Center Fund $ 7,904.13 - Transfer to Golf Course Fund 3,990.00 11,894.13 Balance at December 31, 1967 $1,456,358.10 -57- IMPROVEMENT FUNDS COMBINED BALANCE SHEET VILLAGE OF EDINA i December 31, 1967 i Construction Joint Permanent Sewer Improvement No.,l Revolving $ 428,710.15* $2,659.62 $ 5,688.81 $ 428,710.15* $29659.62 $ 5,688.81 120,599.25 3,090,280.32 530,669.22" 95,707.36 $3,287,946.75 $ 5,868.11 530,669.22 2,684,766.66 38,890.51 27,752.25 $3,287;946.75 $ 8,167.95 30,143.45 2,750.46 I I Sanitary Sewer Southdale No. .53 Improvement $.22.,203.17 $ "5,813.70 $ 22,203.17 $ 5,813.70 155,000.00 100,000.00 $ 26,926.06 2,900.94 103,561.77 Improvement Municipal Bond State -Aid Redemption Street Bond $ 7,6,409.81: .$251.18 100,000.00 $ `176;409:81 $251.18 1,591,000.00,, $ 1,069066.,75, 253,652.43 6,163,150,05 Total i Eliminations ASSETS Cash: 211,753.95 Demand deposits $ 315,683.86* $ - Time deposits $ - 100,000.00 30,689.35 11,634.69 $ 215,683.86* $ Investments $ 10,372.51 1,966,599.25 $ - Receivables: $ - 100,000.00 Special assessments: 4,454.14 Current - certified in 1967 - collectible in 1968 $ 1,404,460.76 Delinquent 286,696.82 t Deferred 6,269,462.28 Taxes and assessments receivable — Village share of projects: $2,659.62 I. Current.and delinquent $110,267.84 11,214.90 $251.18 Deferred 275,941.17_ $ 2,027.69 , $ 8,247,775.93 $ - Less allowance for delinquent taxes $ 900.00 683,954.91 $ 7,563,821.02 $ - Due from other funds 104,454.14 Due from ..Construction Fund for advances - 2,684,766.66 Construction in progress: Current 3,090,280.32 Deferred 90,000.00 530,669.22 Unallocated construction cost 7,854.91 168,348.63 13,091.60 Prepaid interest 19,164.00 328,727.86 . $13,2279652.72 $2,684,766.66 LIABILITIES, RESERVE AND SURPLUS $2,659.62 $336,660.57 j Accounts payable $ 29027.69 Accrued interest 669280.20 ' Due to Hennepin County 9,944.60 { Due to other funds 10,322.25 Construction contracts payable 530,669.22 Advance from Improvement Funds - $2,6849766.66 Payable to City of Minneapolis for Village share of sewage disposal plant 95.22 Bonds payable 10,5309000.00 Construction deposits 38,890.51 Reserve for assessment adjustments 669709.99 Reserve for construction 27,752.25 Surplus - unappropriated 1,944,960.79 $1392279652.72 $29684,766.66 i * Indicates red figure. I { ;I Construction Joint Permanent Sewer Improvement No.,l Revolving $ 428,710.15* $2,659.62 $ 5,688.81 $ 428,710.15* $29659.62 $ 5,688.81 120,599.25 3,090,280.32 530,669.22" 95,707.36 $3,287,946.75 $ 5,868.11 530,669.22 2,684,766.66 38,890.51 27,752.25 $3,287;946.75 $ 8,167.95 30,143.45 2,750.46 I I Sanitary Sewer Southdale No. .53 Improvement $.22.,203.17 $ "5,813.70 $ 22,203.17 $ 5,813.70 155,000.00 100,000.00 $ 26,926.06 2,900.94 103,561.77 Improvement Municipal Bond State -Aid Redemption Street Bond $ 7,6,409.81: .$251.18 100,000.00 $ `176;409:81 $251.18 1,591,000.00,, $ 1,069066.,75, 253,652.43 6,163,150,05 -58- J1,214.90 64,187.22 211,753.95 $ - $ 41,061.86 $197,575.99 $ - $ 8,009,138.08 $ - 30,689.35 11,634.69 641,630.87 $ - $ 10,372.51 $185,941.30 $ - $7,367,507.21 $ - 100,000.00 4,454.14 100,000.00 2,584,766.6.6,11 72,641.27 19,164.00 . $2,659.62 $336,660.57 $363,144.47 $110,267.84 $11,811,488.95 $251.18 $ 2,027.69 , $ 900.00 65,380.20 $ 77.80 $ 470.25 9,396.55 ...4,454.14 $ 95.22 280,000.00 90,000.00 10,160,000.00 7,854.91 1 13,091.60 45,763.48 2,564.40 328,727.86 82,674.22 6,276.24 1,524,466.89 $251:18 $2,659.62 $336,660.57 $363,144.47 $110,267.84 $11,811,488.95 $251.18 -58- IMPROVEMENT FUNDS STATEMENT OF SURPLUS - UNAPPROPRIATED VILLAGE OF EDINA Year-Ended December 31, 1967 -59- Improvement Joint Permanent Sanitary State -Aid Improvement Sewer Improvement Sewer $1,321,799.15 Total No. 1 Revolving No. 53 Balance at January 1, 1967 $1,731,131.59 $2.,564.40,'. $322,010.19 $79,883.62 Additions: 17.19 $4,388.79 Interest spread on.assessment for collection $ - $2,775.00 $ 332,849.83 in.1968 $. 385,644.21 $ 498.29 $ 6,213.71 .Income on investments 105,786.17 5,668.13 8.,685.57. Capitalized interest 65,786.81 $6,208.22 $1,517,086.67 $251.18 Overcollection on special assessments. 17.19 $6,276.24 $1,524,466.89 $251.18 $ 557,234.38 $ - i $ 6,166.42 $14,899.28 Deductions: Interest on bonds $ 345,664.83 $10,040.00 Bank service charges 2,751.29 75.10 Cost of bond sale 992.42 Cancellations and adjustments 5,444.00 $. 530.13 4,911.32 $ 354,852.54 $ - $ 530.13 $15,026.42 $1,933,513.43 $2,564.40 $327,646.48 - $79,756..48 Transfers - add: Allowance for delinquent taxes 11,447.36 1,081.38 2,917.74 Balance at December 31, 1967 $1,944,960.79 $2,564.40 $328,727.86 $82,674.22 -59- Improvement Municipal Southdale Bond State -Aid Improvement Redemption Street.Bonds $4,623.05 $1,321,799.15 $251.18, j $ 378,932.21 $4,371.60 87,060.87 65,786.81 17.19 $4,388.79 $ 531,779.89 $ - $2,775.00 $ 332,849.83 26.07 2,650.12 1 992.42 2.55 $2,803.62 $ 336,492.37_ $6,208.22 $1,517,086.67 $251.18 68.02 7,380.22 $6,276.24 $1,524,466.89 $251.18 -59- i IMPROVEMENT FUNDS ANALYSIS OF CHANGE IN.CASH'BALANCE` ,I VILLAGE OF EDINA Year Ended December 31, 1967 Joint Permanent Sanitary Combined Improvement Construction Sewer Improvement Sewer Balance at January 1, 1'967 Bond. $ '24,642.37 �. 075.85* $ 352,075.85* Additions: Improvement Redemption , - Street Bonds Remittance from County Auditor: $2,994.41 $ 7,126.23 $ 20,466.46* $ 15,118.90. On special. assessments $251.18 $1,432,322.24 i $29,017.07 On taxes receivable $1,389,025.36. 10,723.16 a Collections by Village on special assessments 497,588.13 ; Proceeds from sale of bonds" 5,305.91 2,002,266.68 ' 489,977.61 Sale of investments 2,256,689.92 Collection from other funds 1,752:05 $ 1,752.05 . Advance from Improvement Funds 1,937,060.87 2,500,000.00 i 2.,500,000.00 Payment received on connection charges 2,899.31 22,007.01 Construction.deposit received $243,008.55 20.,397..64 `s, 20,397.64 Payment made by another fund $5,848,161 :38 5,868.11 1 .5,868.11 $8,749,614.94 $2,528,017.80 Deductions: Construction costs charged to others: General Fund $ 7$96.39 Permanent Improvement Revolving Fund 7,655.33 Park.Fund 1,400.00 Improvement Bond Redemption Fund 1,174$73.18 Hennepin County 53,879.38 State of Minnesota Highway Department - State -Aid division 115$64.68 Other 18,000.00 $1$78,268.96 Less collections received 177,705.17 $1,200,563.79 i Increase in construction in progress: j Balance at December 31, 1967: Current construction $3,090,280.32 Deferred construction 530,669.22 .Unallocated cost 95,707.36 $3,716,656.90 Balance at January 1, 1967: Current construction $1,812,063.01 Deferred construction 320,031.12 Unallocated costs 15,393.14 2,147,487.27 $1,569,169.63 Less increase in contracts payable: Balance at December 31, 1967 $ 530,669.22 Balance at January. 1, 1967 320,031.12 210,638.10 1,358,531.53 2,559,095.32 2,559,095.32 (Balance Carried Forward) $6,215,161.99 $ 383,153.37* Joint Permanent Sanitary Improvement Municipal Sewer Improvement Sewer Southdale Bond. State -Aid No. 1 Revolving No. 53 Improvement Redemption , - Street Bonds $2,994.41 $ 7,126.23 $ 20,466.46* $ 15,118.90. $ 371,693.96 $251.18 $12,902.30 i $29,017.07 $ 1,377.51 $1,389,025.36. 10,723.16 2,304.61 5,305.91 489,977.61 . 2,002,266.68 6,571.88 208,685.57 104,371.60 1,937,060.87 2,899.31 19,107.70 $ - $21,778.79 $243,008.55 $108,648.42 $ - $5,848,161 :38 $2,994.41 $28,905.02 $222,5142.09 $123,767.32 $6,219,855.34. $251.18 IMPROVEMENT FUNDS ANALYSIS OF CHANGE IN. ,CASH. BALANCE; , (Cont?.d) (Balance Brought Forward) Deductions (cont'd): Payment to other funds accrued at December 31, 1966 Investments purchased Payment to County Auditor for bookkeeping charges Transfer to Construction Fund B'onds:.: redeemed Interest on bonds Bank service charges Cost of bond sale Paid to City of Minneapolis - sewage disposal plant Payment on connection charges Construction costs Return on construction deposits Refunds Prepaid interest Balance at December 31, 1967 * Indicates red figure. f Combined i Construction $6,215,161.99 $ 383,153.37* $ 18,209.49 1,950,000.00 1,395.90 2,500,000.00 1,555,000.00 326,785.00 2,751.29 a 992.42 334.79 2,301.49 7,655.33 45,556.78 $ 45,556.78 .699.36 1.9.,164.00 $6,430,845.85 $ 45,556.78 $. 215,683.86 *: - '$ 428,710.15* Joint Permanent Sanitary Improvement Municipal Sewer Improvement Sewer Southdale Bond State -Aid No. l Revolving No. 53 Improvement Redemption Street Bonds 10,040.00 2,925.00 $2,994.41 $28,905.02 $222,542.09 $123,767.32 $6,219,855.34 $251.18 $15,000.00 23.80 $ .334.79 7,655.33 537.08 334.79 $23,216.21 $2,659.62: $ 5,688.81 -61- $ 18,209:49 $150,000.00 $100,000.00 1;685,000.00 202.70 2.55 1,166.85 295009000.00 40,000.00 159000.00 1,500,000.00 10,040.00 2,925.00 313,820.00 75.10 26.07 2,650.12 992.42 2,301.49, 21.12 141.16 ...19,164.00 $200,338.92 $117,953.62 $6,043,445.53 $ - .$ 22,203.17 $ 5,813.70 $ 176,409.81 $251.18 -61- IMPROVEMENT FUNDS BONDS PAYABLE VILLAGE OF EDINA December 31, 1967 Annual maturities and interest dates Interest rate Year Total Sanitary Sewer Southdale No. 53 improvement January 1 March 1 and and July 1 September 1 3% $15,000:00 15,000.00 15,000!00 15;000.00 :15,000.00 15,000.00 :?yu,uuu.vu Improvement Bond Redemption March 1, May 1, June 1, September 1, November 1 and December 1 2% to 4.20% $ 1,320,000.00 1,320,000.00 1,295,000.00 1,095,000.00 1,095,000.00 1,095,000.00 795,000.00 655,000.00 655,000.00 305,000.00 265,000.00 265,000.00 $10,160,000.00 -62- I 3 1/4% and 3 1 /10% 1968 $ 1,335,000.00 1969 1,375,000.00 $ 40,000.00 1970 1,350,000.00 40,000.00 1971 1,150,000.00 i 40,000.00 1972 1,150,000.00 i 40,000.00 1973 1,150,000.00 40,000.00 1974 835,000.00 40,000.00 1975 695,000.00 40,000.00 1976 655,000.00 1977 305,000.00 1978 265,000.00 1979 265,000.00 TOTAL $10,530,000.00 I 1 l j $280,000.00 3% $15,000:00 15,000.00 15,000!00 15;000.00 :15,000.00 15,000.00 :?yu,uuu.vu Improvement Bond Redemption March 1, May 1, June 1, September 1, November 1 and December 1 2% to 4.20% $ 1,320,000.00 1,320,000.00 1,295,000.00 1,095,000.00 1,095,000.00 1,095,000.00 795,000.00 655,000.00 655,000.00 305,000.00 265,000.00 265,000.00 $10,160,000.00 -62- WATERWORKS BALANCE VILLAGE December ASSETS CURRENT ASSETS Cash: Demand deposits (overdrawn) ($ 4,797.10) Appropriated funds 26,829.75 $ 22,032.65 Investments - at face value or cost: United States Treasury notes and United States Government Agency securities $ 275,242.53 Accrued interest 1,607.29 $ 276,849.82. Less amount segregated and shown below 68,974.00 207,875.82 Accounts receivable: From customers $ 56,072.48 Due from other funds a 13,075.80 69,148.28 Inventories: Meters - at cost $ 26,695.30 Supplies - estimated 1,750.00 28;4,45.30 r5 Prepaid insurance 526.00 TOTAL CURRENT ASSETS $. 328,028.05 OTHER ASSETS Segregated investments - reserve for debt retirement 68,974.00 FIXED ASSETS — Note A Land $ 27,556.38 Land improvements $ 13,583.74 Distribution system 4,436,708.46 Buildings and equipment 1,720,623.25 $6,170,915.45 Less allowance for depreciation 1,344,427.98 4,826,487.47 Construction in progress 39,.842.60 4,893,886.45 $5,290,888.50 FUND SHEET OF ED INA 31, 1967 LIABILITIES AND SURPLUS CURRENT LIABILITIES Accounts payable and accrued expenses: Trade accounts Salaries and wages Interest Current maturities of bonds payable LONG -TERM DEBT Bonds payable ­Note B Less current maturities.- shown above SURPLUS Invested in fixed assets Revaluation of fixed assets - Note A Contributed by special assessments - Note A Contributed by General Fund Earned: Appropriated Unappropriated See notes to balance sheet. $ 24,107.67 755.17 4,108.83 $ 28,971.67 48.000.00 TOTAL CURRENT LIABILITIES $ 76,971.67 $ 671,000.00 48,000.00 623,000.00 $ 745,360.75 25,967.56 3,439,873.20 11,684.94 $4,222,886.45 $. 95,803.75 272,226.63 368,030.38 4,590,916.83 $5,290,888.50 -63- WATERWORKS FUND NOTES TO. BALANCE :SHEET VILLAGE OF'EDINA December 31, 1967 Note A - The original utility purchased in 1947 is carried at amounts based on appraisal at time-of acquisition. Subsequent purchases are carried at cost. Watermains for which the benefited property owners have been assessed are carried at construction cost with contra - credit to surplus contributed by special assessments. Each of the aforementioned amounts has been reduced by the depreciation thereon charged to income, which income has been transferred to earned surplus. Note B - The annual maturities, due dates and interest rates of the bonds payable are as follows: $80,000.00 $211,000.00 $380,000.00 $671,000.00 Bonds of the 1955 issue are subject to redemption and prepayment at the option of the Village on any interest date. 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 number. Thirty days prior notice must be given to bondholders. -64- 1955 Issue . 1959 Issue 1963 Issue Total Annual maturities and interest dates March l and March l and June l and September 1 September 1 December 1 Interest rates 2.50% 3.40% and 2.80%, 3.00 %,. 3.50% 3.20% and 3.30% Annual amount of maturities: 1968.. $30,000.00 $ 8,000.00 $ 10,000.00 $ 48,000.00 1969 30,000.00 8,000.00 10,.000.00 48,000.00 1970 20,006.00 15,000.00 10,000.00 45,000.00 1971 35,000.00 20,000.00 55,000.00 1972 35,000.00 20,000.00 55,000.00 1973 35,000.00 20,000.00 55,000.00 1974 35,000.00 20,000.00 55,000.00 1975 40,000.00 20,000.00 60,000.00 1976 50,000.00 50,000.00 1977 50,,000.00 50,000.00 1978 50;000.00 50,000.00 1979 50,000.00 50,000.00 1980 50,000.00 50,000.00 $80,000.00 $211,000.00 $380,000.00 $671,000.00 Bonds of the 1955 issue are subject to redemption and prepayment at the option of the Village on any interest date. 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 number. Thirty days prior notice must be given to bondholders. -64- WATERWORKS FUND STATEMENT OF SURPLUS i VILLAGE-OF EDINA j Year Ended December 31, 1967 i Invested Contributed Earned Surplus Iw Fixed by Total Unappropriated Appropriated Assets Assessments Balance at January 1, 1967 $4,390,814.62 $153,888.37 $92,476.25 $724;937.97 $3,380,849.94 Additions: i I Contributed by General Fund Revaluation i i $12,012.55 $26,649.54 Watermains contributed by special assessments 140,460.86 140,460.86 Net income for year 59,641.35 59,641.35 $4,590,916.83 $2132529.72 $923,476.25 $724,937.97 $3,521,310.80 $12,012.55. $26,649.54 Transfers: Provision for depreciation - 152,805.08 70,357.89* 81,437.60 j 327.61* 681.98* Bonds retired - 48,000.00* 48,000.00 Additions to fixed assets - 42,780.67* I 42,780.67 Increase in appropriation of funds for reserve for debt retirement, = 3,327.50* 3,327.50 i Balance at December 31, 1967 $745,360.75 $3,439,873.20 $11�684.9�4 $25. * Indicates red figure. I 1 i I I � I WATERWORKS FUND STATEMENT OF INCOME AND EXPENSE VILLAGE'OF EDINA Per Cent to Year Ended December 31 Increase Gross Income 1967 1966 Decrease* 1967 1966 Number of meters in use: At end of year 8,336 7,797 539 At beginning of year 7,797 7,446 351 Income: Sale of meters $ 34,337.00 $ 20,611.00 $13,726.00 Less cost of meters sold 28,439.00 17,157.00 11,282.00 GROSS PROFIT ON METERS $ 5,898.00. $ 3,454.00 $ 2,444.00 Water sales 373,678.00 3219107.00 52,571.00 Penalties 6,494.00 5,327.00 13,167.00 Water connection permits 2,840.00 1,885.00 955.00 Tapping fees 194.00 234.00 40.00* Use of hydrants 13,076.00 11,296.00 1,780.00. Miscellaneous 1,128.35 1,420.73 292.38* $403,308.35 $344,723.73 $582584.62. 100.00% 100.00% Expenses: Pumping: Labor $ 6,625.00 $ 6,611.00 $ 14.00 Power and light 43,372.00 37,914.00 5,458.00 Supplies and repairs 9,921.00 253.00 9,668.00 Buildings: Labor 1,515.00 13,230.00 285.00 Fuel 2,098.00 1,891.00 207.00 Supplies 310.00 380.00 70.00* Telephone 187.00 204.00 17.00* Repairs 984.00 186.00 798.00 Insurance 491.00 617.00 126.00* Water purchased 18,395.00 627.00 17,768.00 Provision for depreciation 21,973.00 27,262.00 5,289.00* $105,871.00 $ 77,175.00 $28,696.00 26.25 22.39 Distribution: Labor $ 8,865.00 $ 7,829.00 $ 1,036.00 Materials and supplies 1,832.00 5,385.00 3$53.00* Operation of meters: . Labor 7,511.00 419109.00 33,402.00 Supplies and expenses 932.00 1,120.00 188.00* Provision for depreciation 87$21.00 82,077.00 5,244.00 Repairs 9,184.00 10,722.00 1,538.00* $115,645.00 $111,242.00 $ 4,403.00 28.68 32.27 Tanks, towers and reservoir: Labor $ 437.00 $ 401.00 $ 36.00 Power and lease lines 1,696.00 1$02.00 194.00 Supplies and expenses 5.00 - 5.00 Provision for depreciation 22,678.00 22,668.00 10.00 Insurance 485.00 380.00 105.00 $ 25,301.00 $ 24,951.00 $ 350.00 6.27 7.24 -66- WATERWORKS FUND STATEMENT OF INCOME AND EXPENSE ( Cont'd) Expenses (cont'd): Water treatment: Labor Supplies and expense 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, hospitalization, Year Ended.December 31 Increase 1967 1966 Decrease* Per.Cent to Gross Income 1967 1966 $ 4,207.00 $ 2,239.00 $..1,968.00 11$84.00 11,018.00 566.00:: 18,616.00 18,616.00 - $ 34,407.00 $ 31,873.00 $ 2,534.00 8.53% 9.24% $ 53,676.00 $ 411740.00 $ 936.00 1,544.00 1,538.00 6.00 $ 7,220.00 $ 6,278.00 $ 942.00 1.79 1.82 $ 10,088.00 $ 9,384.00 $ 704.00 5,497.00 4,494.00 1,003.00 9,354.00 5,943.00 3,411.00 158.00 118.00 40.00 etc. 5,700.00 Supervision 3,000.00 Provision for depreciation 673.00 Professional services 1,902.00 Supplies and expenses 829.00 Building rental 624.00 $ 37,825.00 TOTAL EXPENSES - $326,269.00 OPERATING INCOME $ 77,039.35 Income on investments 4,644.00 Other deductions: Interest on bonds Fiscal agent service charge NET INCOME Depreciation charged to operations included in ,expenses $.81,683.35 5,580.00 3,000.00 664.00 1,150.00 633.00 540.00 $ 31,506.00 $283,025.00 $ 613,698.73 4,195.00 $ 65,893.73 $ 21,921.00 $ 23,309.00 121.00 124.00 $ 22,042.00 $ 23,433.00 $ 59,641.35 $ 42,460.73 120.00 9.00 752.00 196.00 84.00 $ 6,319.00 $43,244.00 $15,340.62 ,. ._ A AA Y J a, 1 U7. v G $ 1,388.00* 3.00* $ 1,391.00* $17,180.62 $1521805.00 $152,827.00 $, 22.00* 9.38 9.14 80.90%. 82.10% 19.10 %, 17.900% 1.15 1.22 20.25% 19.12% 5.4.6' . 14.79 %a 12.32% -67- WATERWORKS FUND ANALYSIS OF CHANGE IN CASH BALANCE VILLAGE OF EDINA Year Ended.December 31, 1967 Balance at January 1, 1967 Additions: Collections on accounts receivable Collection on amount due from other funds Sale of water meters Income on investments Sundry sales and services Increase in amounts payable: Balance at December 31, 1967: Trade accounts $ 241107.67 Accrued payroll 755.17 $ 24,862.84 Balance at January 1, 1967: $375,465.25 26,606.15 34,337.00 4,644.00 3,034.00 $ 63,190.71 Trade accounts $ 3,682.44 Accrued payroll 214.28 3,896.72 20,966.12. 465,052.52 $528,243.23 Deductions: Payment to fiscal agents: Principal $ 48,000.00 Interest 22,291.00 Service charge 121.00 $ 70,412.00 Meters purchased 41,829.85 Additions to fixed assets $183,241.53 Less contributed by special assessments 140,460.86 42,780.67 Purchase of investments 174,511.02 Operating expenses $326;269.00 Less provision for depreciation 152,805.08 173,463.92 Payment of sales tax 3,137.00 Increase in prepaid expense 76.12 506,210.58 Balance at December 31, 1967 $ 22,032.65 Summary: Sinking Fund Operating Fund (overdrawn) $26,829.75 ( 4,797.10) TOTAL $22;032.65 WATERWORKS FUND FIXED ASSETS VILLAGE OF EDINA Year Ended December 31, 1967 -69- A s s e t s Allowance for Depreciation Balance Balance Balance Balance January 1, December 31, January 1, December 31, 1967 Additions Deductions 1967 1967 Additions Deductions 1967 Land $ 27,556.38 $ 27,556.38 $ - $ - Land improvements 13,311.01 $ 272.73 13,583.74 3,828,.02 $ 538.46 4,366.48 Distribution system: Purchased $ 277,769.71 $ 277,769.71 $ 101;297.72 $ 5,555.38 $ 106,853.10 Contributed by special assessments 4,002,097.23 $140,460.86 4,142,558.09 621,247.29 81,437.60 702,684.89 Contributed by General Fund 16,380.66 16,380.66 4,368.11 327.61 4,695.72 $4,296,247.60 $140,460.86 $ - $4,436,708.46 $ 726,913.12 $ 87,320.59 $ - $ 814,233.71 Buildings and equipment: Pumphouses $ 247,102.12 $ 247,102.12 $ 53,496.59 $ 9,884.07 $ 63,380.66 Wells 278,031.14 278,031.14 72,835.75 11,121.45 83,957.20 Pumps and piping 114,551.28 114,551.28 61,859.36 429.64 62,289.00 Tanks, towers and reservoir 566,867.16 566,867.16 199,077.35 22,678.18 221,755.53 Office equipment 3,285.96 $ 167.09 3,453.05 2,757.70 144.34 2,902.04 Miscellaneous equipment 11,918.74 11,918.74 5,749.02 1,057.50 6,806.52 Water treatment equipment 432,540.66 432,540.66 56,798.51 17,469.64 74,268.15 Automobiles and trucks 8,514.99 2,498.25 $2,522.83 8,490.41 6,543.87 1,014.84 $2,522.83 5,035.88 Storm sewer 57,318.69 573318.69 4,286.44., 1,146.37 5,432.81 Tools 350.00 $1,720,480.74 $ 2,665.34 $2,522.83 350.00 $1,720,623.25 $ - 463,404.59. $ 64,946.03 '$2,522.83 $ ' 525,827.79 Construction in progress - 39,842.60 39,842.60 TOTAL $6,057,595.73 $183,241.53 $2,522.83 $6,238,314.43 $1,194,145.73 $152,805.08 $2® $1,344,427.98 -69- SEWER RENTAL FUND BALANCE SHEET VILLAGE OF EDINA December 31, 1967 ASSETS Current assets: Cash - demand deposits. Investments: Federal Intermediate Credit Banks - at cost Federal National Mortgage Association Certificates Accrued interest Receivables: From customers Assessments receivable Prepaid insurance Fixed assets - on the basis of cost: Land improvements Furniture and fixtures Trucks Equipment Less allowance for depreciation LIABILITIES AND SURPLUS Current liabilities: Trade accounts payable Accrued payroll Surplus invested in fixed assets Unappropriated surplus (deficit) $50,064.20 20,000.00 228.50 $24,829.66 378.06 TOTAL CURRENT ASSETS $ 4,184.19 2,161.69 4,599.03 3 26,471.90 $37,416.81 25,603.98 TOTAL.CURRENT LIABILITIES $ 5,971.31 70,292.70 25,207.72 24.00 $101,495.73 11,812.83 $113,308.56 $130,039.10 482.68 $130,521.78 11,812.83 ( 29,026.05) $113,308.56 =70- SEWER RENTAL FUND STATEMENT -OF SURPLUS (DEFICIT) VILLAGE OF EDINA Year Ended December 31, 1967 Balance (deficit) at January 1,-1967 Deduction: Net loss for year Transfers: Surplus Unappropriated Invested Surplus in Fixed (Deficit) Assets ($ 27,194.04) $13,196.77 3,215.95 ($ 30,409.99) $13,196.77. Provision for depreciation $ 2,391.12 Additions to fixed assets 1,007.18* $ 1,383.94 Balance (deficit) at December 31, 1967 ($ 29,026.05) * Indicates.red figure.. $ 2,391.12* 1,007.18 $ 1,383.94* $11,812.83 -71- SEWER RENTAL FUND STATEMENT OF INCOME AND EXPENSE VILLAGE OF ED INA Year Ended.December 31 Increase 1967 1966 Decrease* Operating income: Service charges and penalties $133,515.00 $118,166.07 $15,348.93 Per Cent to Operating Income 1967 1966 100.0%. 100.0%`.,. Expenses: Operating: Sewer maintenance and treatment $ 75,116.00 $ 63,233.00 $11,883.00 Labor 30,169.00 26,682.00 3,487.00 Supplies 2,845.00 3,194.00 349.00* Repairs 7,443.00 5,270.00 2,173.00 Water 200.00 200.00 - Power 5,371.00 4,395.00 976.00 Provision for depreciation 1,630.12 2,092.13 462.01* Other 543.88 479.87 64.01 $123,318.00 $105,546.00 $17,772.00 92.40% 89.3% Vehicle operation: Allocated from equipment pool $ 3,876.00 $ 3,240.00 $ 636.00 Provision for depreciation 605.00 432.00 173.00 $ 4,481.00 $ 3,672.00 $ 809.00 3.3 3.1 Administrative-..and . general: Clerical and supervision $ 5,923.00 $ 5,091.00 $ 832.00 Auditing 350.00 300.00 50.00 Supplies, telephone, postage and retirement 5,169.00 4,980.00 189.00 Building rental 492.00 420.00 72.00 Provision for depreciation 156.00 154.00 2.00 Professional services 702.00 600.00 102.00 $ 12,792.00 $ 11,545.00 $ 1,247.00 9.6 9.8 TOTAL EXPENSES $140,591.00 $120,763.00 $19,828.00 105.3% 102.2% OPERATING LOSS $ 7,076.00 $ 2,596.93 $ 4,479.07 5.3% 2.2% Other income: Income on investments $ 2,199.00 $ 1,049.00 $ 1,150.00 Miscellaneous 1,661.05 250.92 1,410.13 $ 3,860.05 $ 1,299.92 $ 2,560.13 2.9 1.1 NET LOSS .$ 3,215.95 $ 1,297.01 $ 1,918.94 2.4% 1.1 %. Depreciation charges to opera- tions included in expenses $ 2,391.12 $ 231678.13 $ 287.01* -72- SEWER RENTAL FUND ANALYSIS OF'CHANGE'IN.CASH BALANCE VILLAGE 'OF EDINA Year Ended December 31, 1967 Balance at January 1, 1967 Additions: Collections on accounts receivable Tax settlements received Sale of investments Income-on investments Increase in liabilities: Balance at December 31, 1967: Trade accounts Accrued payroll Balance at January 1, 1967: Trade accounts Accrued payroll Other Deductions:, .Expenses for the year Less provision for depreciation not requiring cash Investments purchased Purchase-of fixed assets Other $130,039.10 482.68 $130,521.78 $103,340.37 167.43 103,507.80 $ 7,102.29 $129,359.26 298.37 47,851.25 2,199.00 27,013.98 1,661.05 208,382.91 $215,485.20 $140,591.00 2,391.12 $138,199.88 70,292.70 1,007.18 14.13 209,513.89 Balance at December 31, 1967 $ 5,971.31 -73- SEWER RENTAL FUND FIXED ASSETS VILLAGE OF EDINA Year Ended December 31, 1967 -74- Balance Balance January 1, December 31, 1967 Additions 1967 ASSETS Land improvements $ 3,944.08 $ 240.11 $ 4,184.19 Furniture and fixtures 1,994.62 167.07 2,161.69 Trucks 4,599.03 4,599.03 Equipment 25,871.90 600.00 26,471.90 $36,409.63 $1,007.18 $37,416.81 ALLOWANCE FOR DEPRECIATION Land improvements $ 1,065.13 $ 162.56 $ 1,227.69 Furniture and fixtures 1,451.85 156.16 1,608.01 Trucks 2,394.73 605.40 3,000.13 Equipment 18,301.15 1,467.00 19,768.15 $23,212.86 $2,391.12 $25,603.98 NET BALANCE $13,196.77 $11,812.83 -74- LIQUOR DISPENSARY FUND BALANCE SHEET VILLAGE OF EDINA December 31, 1967 ASSETS CURRENT ASSETS Cash: Demand deposit Deposits in transit Working funds Investments - at cost: Village of Edina — Waterworks Revenue Bonds of 1959 Accrued interest United States Treasury notes at cost Accrued interest Due from Golf Course Fund Merchandise inventory - at cost (first -in, first -out method): Liquor Wine Beer Mix and miscellaneous Prepaid expenses: Unexpired insurance Supply inventory LOAN TO GOLF COURSE FUND FIXED ASSETS - at cost Land Land improvements Building Furniture, fixtures and equipment Leasehold improvements Less allowance for depreciation and amortization LIABILITIES AND SURPLUS CURRENT LIABILITIES Trade accounts payable Salaries and wages SURPLUS Invested in fixed assets Available $ 37,781.98 33,928.75 $ 71,710.73 3,000.00 $ 74,710.73 $ 26,882.51 311.67 $ 27,194.18 $123,867.19 2,057.39 125,924.58 153,118.76 6,615.88 $242,263.73 36,100.90 11,030.17 2,244.11 291,638.91 $ 2,039.18 400.00 2,439.18 TOTAL CURRENT ASSETS $528,523.46 $ 16,500.00 $ 3,412.66 75,331.92 47,423.74 28.172.74 $154,341.06 250,000.00 102,859.59 51,481.47 67,981.47 $846,504.93 $ 32,880.33 3,190.30 TOTAL CURRENT LIABILITIES $ 36,070.63 $ 67,981.47 742,452.83 810,434.30 $846,504.93 -75- LIQUOR DISPENSARY FUND STATEMENT OF SURPLUS VILLAGE OF EDINA Year Ended December 31, 1967 Balance at January 1, 1967 Additions: Net income for year Deductions: Transfer to General Fund Transfer to Park Fund Transfer to Park Construction Fund Total $ 724,606.90 310,827.40 $1,035,434.30 $ 81,283.00 63,717.00 80,000.00 $ 225,000.00 $ 810,434.30 Transfers: Provision for depreciation - Additions to fixed assets - Balance at December 31, 1967 $ 810;434.30 * Indicates red figure. Available $646,060.07 310,827.40 $956,887.47 $ 81,283.00 63,717.00 80,000.00 $225,000. 0 $731,887.47 10,881.54 316.18* $742,452.83 Invested in Fixed Assets $78,546.83 $78,546.83 Y $78,546.83 .10,881.54* 316.18 $67;981.47 -76- -77- I LIQUOR DISPENSARY FUND STATEMENT OF INCOME AND EXPENSE VILLAGE OF EDINA Years.-Ended December 31 Per.Cent to Net Sales 1 9 6 7- 1966 Increase 1.' 9 6 7 1966 50th' Street ' Southdale Grandview Total Total Decrease* 50th!Street Southdale Grandview Total Total Sales: Liquor $562,613.00 $411,738.00 $307,557.00 $1,281,908.00 $1,230,187.00 $51,721.00 Wine 93,238.00 82,369.00 53,124.00 228,731.00 204,756.00 23,975.00 Beer 135,317.00 66,747.00 73,869.00 .275,933.00 271,203.00 4,730.00 Mix and miscellaneous 16,017.00. 7,983.00 12,451.00 j, 36,451.00 34,147.00 2,304.00 $807,185.00 $568,837.00 $447,001.00 $1,823,023.00 $1,740,293.00 $823-730.00 Less bottle refunds 3,593.00 1,554.00 2,299.00 7,446.00 7,658.00 212.00* NET SALES $803,592.00. $567,283.00 $444,702.00 $1,815$77.00 $1,732,635.00 $82,942.00 100.00% 100.00 %, 100.00% 100.00% 100.00% Cost of sales: Inventory at January 1st $106,932.86 $ 76,328.80 $ 94,194.33 $ 277,455.99 $ .297,123.00 $19,667.01* Purchases 599,815.55 437,288.62 331,603.75 :1,368,707.92 .1;274,929.99 93,777.93 $706,748.41 $513,617.42 $425,798.08 $1,646,163:91 .$1$72,052.99 $74,110.92 Inventory at December 31st 106,090.41 92,508.42 93,040.08 291,638.91 277,455.99 14,182.92 $600,658.00 $421,109.00 $332,758.00: $1,354,525.00 $1,294,597.00 $59,928.00 74.75 74.23 74.83 74.61 74.72 GROSS MARGIN $202,934.00 $146,174.00 $111,944.00 $ 461,052.00 $ 438,038.00 $23,014.00 25.25% 25.77% 25.17% 25.39% 25.28% Operating expenses: Selling $. 31,235.00. $ 23,277.00 I $ 21,941.00 $ 76,453.00 $ :72,477.00 $ 3,976.00 3.89% 4.10% 4.93 %: 4.21% 4.18% Occupancy 12,340.00 20,126.00 19,949.00 52,415.00 55,188.00 2,773.00* 1.53 3.55 4.49 2.,.89... 3.19 Administrative 15,043.00 14,844.00 13,507.00 43,394.00 39,891.00 3,503.00 1.87 2.62 3.04 2..39. 2.30 TOTAL OPERATING EXPENSES $ 58,618.00 $ 58,247.00 $ 55,397.00 $ .172,262.00 $ 167,556.00 $ 4,706.00 7.29 %1 10.27% 12.46% 9.49% 9.67% OPERATING INCOME $144$16.00 $ 87,927.00 $ 56$47.00 $. 288,790.00 $ 270,482.00 $18$08.00 17.96 %; 15.50% 12.71% 15.90% 15.61% Other income: .Cash discount 3,265.00 2,427.00 1,727.00 7,419.00 6,797.00 622.00 .41 .42 .39 .41 .39 Cash over or .(under) 118.00 ( 19.00) ( 3.00) '. 96.00 165.00 69.00* .01 .01 .01 Other 822.40 822.40 295.57 526.83 .10 .05 .02 $148,521.40 $ 90$35.00 $ 58,271.00 $ 297,127.40 $ 277,739.57 $19$87.83 18.480% 15.92% 13.10% 16.37% 16.03% Income on investments 13,700.00 10,177.00 3,523.00 . i NET INCOME ,I $ 310,827.40 $ 287,916.57 $22,910.83 . Depreciation and amortization I included in expenses $ 5,491.00 $ 2,148.00 $ 3,243.00 it "I $ 10,882..00 $ 10,945.99 $ 63.99* -77- Maintenance. - refrigeration equipment Heat. Laundry and rug service Burglar alarm Insurance Share-of maintenance parking lot and traffic directing Repairs and maintenance Provision for depreciation Rubbish hauling Janitorial services Miscellaneous Replacement - heating system Administrative: Salaries and wages Supplies Professional services Allocated expenses - retirement, insurance, office supplies, etc. Miscellaneous Increase - Decrease* 50th Street Southdale Grandview Total $ 695.00 $1,049.00. $1,289.00. $3,033.00 100.00 67.00 121.00 288.00 28.00* 5.00 5.00 18.00* 97.00 74.00 2.00 173.00 500.00 500.00 $ 864.00 $1,695.00 $1,417.00 $3,976.00 $ 115.00 $ 115.00 $ 60.00* $ 55.00 5.00* 2.00 1.00 .3.00 71.00 69.00 33.00 .173.00 13.00 40.00* 15.00. 1.2.00* 513.00 40.00 LIQUOR DISPENSARY FUND 553.00 388.00 36.00 424.00 125.00 425.00 367.00 792.00 OPERATING EXPENSES 444.00 739.00 130.00 503.00 404.00 442.00 1,349.00 523.00 355.00 516.00 VILLAGE OF EDINA 20.00* 164.00, 96.00 260.00 179.00 96.00 - 275.00 15.00* 1,806.00 1,281.00 1,721.00 4,808.00 I Year Endedl: December 31 _5,044.00 180.00* 2,135.00 i 833.00 733.00 1 9 6 7 1 9 6 6 _50th: ..Street Southdale Grandview Total 50th Street Southdale Grandview Total:! Selling: Salaries and wages -' $29,727.00 $21,327.00 $21,047.00 $ 72,101.00 $29,032.00 $20,278.00 .$19.,758.00 $ 69,068:06 Supplies 1,368.00 1,123.00 773.00 3,264.00 1,268.00 1,056.00 652.00 :2,976.00 Licenses and dues -' 43.00 23.00 23.00 89.00 71.00 18.00 18.00 107.00 Pro -rata promotion 182.00 182.00 182.00 182.00 Service contracts 97.00 122.00 98.00 317.00 48.00 96.00 144.00. Customer survey 500.00 500.00 - �$31,235.00 $23,277.00 $21,941.00 $ 76,453.00 $30,371.00 "$21•,582.00 $20,524.00 $ 72,477.00 Occupancy: Salaries and wages $ 115.00 $ 115.00 $ - Rent $14,592.00 $10,651.00 25,243.00 $14,652.00 $10,596.00 25,248.00 Telephone 336.00 278.00 253.00 867.00 $ 336.00 276.00 252.00 864.00 Supplies 135.00 80.00 98.00 313.00 64.00 11.00 65.00 140.00 Light and power 1,671.00 1,020.00 1,429.00 4,120.00 1,658.00 1,060.00 1,414.00 4..,132.00 Maintenance. - refrigeration equipment Heat. Laundry and rug service Burglar alarm Insurance Share-of maintenance parking lot and traffic directing Repairs and maintenance Provision for depreciation Rubbish hauling Janitorial services Miscellaneous Replacement - heating system Administrative: Salaries and wages Supplies Professional services Allocated expenses - retirement, insurance, office supplies, etc. Miscellaneous Increase - Decrease* 50th Street Southdale Grandview Total $ 695.00 $1,049.00. $1,289.00. $3,033.00 100.00 67.00 121.00 288.00 28.00* 5.00 5.00 18.00* 97.00 74.00 2.00 173.00 500.00 500.00 $ 864.00 $1,695.00 $1,417.00 $3,976.00 $ 115.00 $ 115.00 $ 60.00* $ 55.00 5.00* 2.00 1.00 .3.00 71.00 69.00 33.00 .173.00 13.00 40.00* 15.00. 1.2.00* 513.00 40.00 34.00 553.00 388.00 36.00 424.00 125.00 425.00 367.00 792.00 295.00 444.00 739.00 130.00 503.00 404.00 442.00 1,349.00 523.00 355.00 516.00 1,394.00 20.00* 164.00, 96.00 260.00 179.00 96.00 - 275.00 15.00* 1,806.00 1,281.00 1,721.00 4,808.00 1,986.00 .1;399.00 1,659.00 _5,044.00 180.00* 876.00 876.00 ' 2,940.00 2,340.00 2,040.00 7,320.00 133.00 505.00 49.00 687.00 X15,043.00 $14,844.00 $13,507.00 $ 43,394.00 TOTAL $58,618.00 $58,247.00 $55,397.00 $172,262.00 597.00 597.00 216.01 34.00 214.00 248.00 5,491.00 21t148.00 3,243.00 10,882.00 420.00 240.00 300.00 960.00 690.00 75.00 230.00 920.00 71.00 9.00 29.00 109.00 $12,340.00 $20,126:00 $19,949.00 $:52,415.00 j � $10,789.00 $10,920.00 $10,495.00 $ 32,204.00 349.00 347.00 352.00 1,048.00 832.00 732.00 571.00 2,135.00 i 2,940.00 2,340.00 2,040.00 7,320.00 133.00 505.00 49.00 687.00 X15,043.00 $14,844.00 $13,507.00 $ 43,394.00 TOTAL $58,618.00 $58,247.00 $55,397.00 $172,262.00 597.00 597.00 216.01 2,100.00 245.00 461.01 51497.99 2,205.00 3,243.00 10.,945.99 420.00 240.00 300.00 960.00 690.00• 75.00 40.00 730.00 75.00 12.00 35.00 122.00 3,112.00 $1,168.00 $1,164.00 3,112.00 $15,440.00 $20,246.00. $19,502.00 $.55;188.00 $10,279.00 $10,413.00 $ :9,943'.00 $ 30,635.00 16.00 $3,028.00 $4,706.00 16.00 833.00 733.00 584.00 2,150.00 216.01 *' 6.99* 4.00* 3,112.00* _ $3,100.00* $ $ 510.00 $ 333.00 1.00* 4.00 77.00*b 49.00 74.00* 118.00* 62.00, ,.279.00 34.00 31.00* 57.00* 190.00 3.00* 6.00* 120.00* $ 447.00 507.00 $ 552.00 347.00 352.00 1.00* 13.00* .129.00 53.00 45.00* 15.00* 236.00* 279.00 213:01* 63.99* ,190.00 13.00* 3,112.00* $2,773.00* $1,569.00 1,032.00 15.00* 2,640.00 2,100.00 1,800.00 6,540.00 300.00 240.00 . 240.00 780.00 104.00 430.00 16.00 550.00 29.00 75.00 33.00 137.00 $13,872.00 $13;676.00 $12,343.00 $ 39.891.00 $1,171..00 $1,168.00 $1,164.00 $3,503.00 $59,683.00;.$55,504.00 $52,369.00 $167,556.00 $1,065.00* $2,743.00 $3,028.00 $4,706.00 -78- LIQUOR DISPENSARY FUND ANALYSIS OF CHANGE IN CASH BALANCE VILLAGE OF EDINA Year Ended December 31, 1967 Balance at January 1, 1967 Additions: Gross sales Cash discounts Interest received on investments Payment received on accruals at December 31, 1966 Decrease in prepaid insurance Other revenue Increase in liabilities: . Balance at December 31, 1967: Trade accounts $ 32,880.33 Accrued payroll 3,190.30 $ 36,070.63 $1,823,023.00 7,419.00 7,141.00 6,542.00 1,234.07 918.03 Balance at January 1, 1967: Trade accounts $20,428.37 Accrued payroll 3,057.35 23,485.72 12,584.91 Deductions: .Merchandise purchased Bottle refunds Operating expenses Less depreciation included therein not requiring cash Transfers: General Fund Park Fund Park Construction Fund Loan to Golf Course Investments purchased Additions to fixed assets Payment made for another fund $172,262.00 10,882.00 $ 81,283.00 63,717.00 80,000.00 $1,368,707.92 7,446.00 161,380.00 225,000.00 65,000.00 125,861.65 316.18 140.88 Balance at December'31, 1967 $ 166,701.35 1,858,862.01 $2,025,563.36 1,953,852.63 $ 71,710.73 -79- J LIQUOR DISPENSARY FUND FIRED ASSETS VILLAGE OF EDINA Year Ended December. 31, 1967 Balance Balance January 1, December 31, 1967 Additions. 1967 ASSETS Land $ 16,500.00 $ 16,500.00 Land improvements 3,412.66 3,412.66 Building 75,331.92 75,331.92 Furniture, fixtures and equipment 47,107.56 $ 316.18 47,423.74 Leasehold improvements 28,172.74 28,172.74 $170,524.88 $ 316.18 $170,841.06 ALLOWANCE FOR DEPRECIATION AND AMORTIZATION Land improvements $ 1,422.83 $ 139.93 $ 1,562.76 Building 44,567.96 3,900.73 48,468.69 Furniture, fixtures and equipment 25,993.36 3,537.92 29,531.28 Leasehold improvements 19,993.90 3,302.96 23,296.86 $ 91,978.05 $10,881.54 $102,859.59 NET BALANCE $ 78,546.83 $ 67,981.47 Fund General: Current Poor: Current Park: Current Swimming Pool: Current Golf Course: Current Recreation Center: Current Park Sinking: For bonds and interest Park Construction: For construction Improvement: Current For bond interest For construction Waterworks: Current Appropriated Sewer Rental: Current Liquor Dispensary: Current Depository: Demand deposits: First Edina National Bank First Southdale National Bank Midland National Bank Time deposits: First Edina National Bank Franklin National Bank Working funds * Indicates red figure. CASH - ALL FUNDS VILLAGE OF EDINA December 31, 1967 Demand and Time Working Deposits Funds $188,904.57 $ 550.00 14,225.61 30,538.95 5,430.58* 10,254.35 50.00 30,345.94 1,000.00 28,272.66 18,850.11 $146,746.09 66,280.20 428,710.15* $215,683.86* $ 4,797.10* 26,829.75 $ 22,032.65 5,971.31 71,710.73 3,000.00 TOTAL $199,992.44 $4,600.00 Total $189,454.571 14,225.61 30,538.95 5,430.58* 10,304.35 31,345.94 28,272.66 18,850.11 215,683.86* 22,032.65 5,971.31 74,710.73 $204,592.44 $ 42,289.30 17,882:34 4,820.80 $ 64,992.44 $ 35,000.00 100,000.00 $135,000.00 4,600.00 $204,592.44 -81- SECURITY FOR DEPOSITS VILLAGE OF EDINA December 31, 1967 First Edina National Bank- demand deposit do certificate of deposit Franklin National Bank.- certificate of deposit Midland National Bank - demand deposit First Southdale National Bank - demand deposit TOTAL TOTAL TOTAL TOTAL $ 17,882.34 $ 40,242.82 Securitv for Deposits Principal Deposits i ; 1, Book Bank $ 42,289.30 $211,521.79 1970 35,000.00 35,000.00 $ 77,289.30 $246,521.79 j $100,000.00 $100,000.00 $1005,000.00 $100, 000.00 , $ 4,820.80 $ 4,820.80 Federal Deposit Insurance; 1, $ 4,820.80 $ 4,820.80 $ 17,882.34 $ 40,242.82 I I TOTAL $ 17,882.34 $ 40,242.82 Securitv for Deposits Principal ' August 1, 1972 Amount Description Due Date 1, 1970 5,000.00 $370,000.00 United.States Treasury bonds November 15, 1973 32,000.00 United States Treasury notes February ..15, 1970 1967` 15,000.00 Federal Deposit Insurance; 1, 1971 5,000.00 $417,000.00 January 1, 1970 20,000.00 $100,000.00 United States Treasury notes February 15, 1968 15,000.00 Federal Deposit Insurance 1, 1976 10,000.00 $115,000.00 October 1, 1971 20,000.00 $ 25,000.00 I.S.D. #275 Golden Valley, July 1, 1979 50,000.00 I.S.D,. #423 Hutchinson March 1, .1980 15,000.00 50,000.00 I.S.D. #742 St. Cloud February 1, 1980 15,000.00 Federal Deposit Insurance $140,000.00 $ 20,000.00 Village of Edina Recreation Center Bonds September 1, 1977 20,000.00 Village of Edina Recreation Center Bonds September 1, 1980 20,000.00 Columbia Heights, Minnesota I.S..D. #13 February 11 1980 20,000.00 State of California School Bonds September 1, 1978 20,000.00 Winona Special S/D 0, Minnesota July 1, 1978 20,000.00 State-of Hawaii October 15, 1977 20,000.00 St. Louis Park, Minnesota Refunding December 1, 1975 20,000.00 Willmar,.Minnesota Refunding August 1, 1975 20,000.00 Eugene, Oregon Bancroft Improvement June. 1, 1975 20,000.00 White Bear Lake, Minnesota I.S.D. #624 April 1, 1975 10,000.00 Blue Island, Illinois.Comm. H.S.D. #218 December 1, 1973 5,000.00 Brainerd, Minnesota Imp. February 1, 1972 5,000.00 Burnsville, Minnesota, I.S.D. #191 November 1, 1972 5,000.00 Dawson, Minnesota I.S.D. 0,373 School $3153,000.00 -82- Building August 1, 1972 5,000.00 Edina, Minnesota Various Purpose September 1, 1970 5,000.00 Edina, Minnesota Park System of 1957 March 1,.1972 5,000.00 Moorhead, Minnesota Impr. February 1, 1970 5,000.00 Slayton, Minnesota I.S.D. #504 February 1, 1971 5,000.00 Worthington, Minnesota Sewage January 1, 1970 20,000.00 Washington Motor Vehicle Fuel Tax Revenue September 1, 1976 10,000.00 New York, New York Various Purpose October 1, 1971 20,000.00 Corpus Christi, Texas, Junior. College District ! March 1, 1974 15,000.00 Federal Deposit Insurance; $3153,000.00 -82- INVESTMENTS VILLAGE OF EDINA December 31, 1967 Description Maturity Interest Rate Face Amount United States Treasury notes August 15, 1968 4.25% $ 500,000.00 do February 15, 1970 4.00 150,000.00 do November 152 1970 5.00 500,000.00 $1,150;000.00 Federal Intermediate Credit Bank-Debentures February 1, 1968 4.40% $ 100,000.00 do September 3, 1968 5.80 800,000.00 $ 900,000.00 Federal National- Mortgage Association Participation Certificates February 11, 1970 6.35% 200,000.00 Federal Home Loan Bank February 26, 1968 5.35 300,000,00 Federal Land Bank July 20, 1976 5.38 200,000.00 Village of Edina,.Minnesota: 1955 Improvement Bonds March 1, 1977 2.90% $ 25,000.00 1957 Improvement Bonds March 1, 1974 to 1979 3.90 31,000.00 1959 Improvement Bonds June 1, 1968 to 1969 2.75 to 3.75 23,000.00 1960 Improvement Bonds September 1, 1970 3.30 32,000.00 1962 Improvement Bonds December 1, 1969 to. 1970 2.70 25,000.00 1966 Improvement Bonds November 13 1970 to 1972 3.90 20,000.00 1957 Park Bonds March 19 1968 to 1970 3.70 6,000.00 1962 Park Bonds December 1, 1969 to 1970 2.70 20,000.00 1955 Waterworks Revenue Bonds March 1, 1969 to 1970 2.50 17,000.00 1959 Waterworks Revenue Bonds September 1, 1971 to 1974 3.40 to 3.50 27,000.00 $ 226,000.00 Land investments 5,599.25 TOTAL $2,981$99.25 FUND OWNERSHIP Face Carrying Amount Amount December 31, December 31, 1967 1967 Improvement Funds. $1,9.66,599.25 $1,966$99.25 General 350,000.00 350,000.00 Poor 12,000.00 123,000.00 Golf Course 50,000.00 50,174.00 Park Sinking 602000.00 60,000.00 Park Construction 16,000.00 16,000.00 Waterworks 275.,000.00 276,849.82 Sewer Rental 703P000.00 70,292.70 Liquor Dispensary 152,000.00 153,118.76' Recreation Center 30,000.00 30,104.40 $2,981,599.25 $2,985,138.93 -83- TAXABLE VALUATIONS, TAX LEVIES AND RATES Taxable valuation: Real estate Personal property Tax levies extended: Extended in year Collectible in year. General Parks Bonds and interest Poor and public nursing Firemen's relief Fire protection Hennepin.County park Tax rate by mills: General Parks Bonds and 'interest Poor and public nursing Firemen's relief Fire protection Hennepin County park VILLAGE OF EDINA December 31 1967 1966 $42,060,772.00 $41,002,999.00 2,270,030.00 3,156,601.00 TOTAL $44,330,802.00 $44,159,600.00 TOTAL TOTAL 1967 1968 $ 1,123,799.45 91,217.49 61,115.72 15,050.89 4,560.87 13,682.62 $ 1,309,427.04 24.64 2.00 1.34 .33 .10 .30 28.71 1966 1967 $ 1,096,482.86 86,994.41 62,706.63 15,014.26 4,415.96 13,247.88 4,415.96 $ 1,283,277.96 24.83 1.97 1.42 .34 ..10 .30 .10 29.06 -84- OFFICIAL BONDS VILLAGE OF EDINA December 31, 1967 Position On file with Clerk- Treasurer: Blanket position Blanket position Treasurer Village Clerk Deputy Assessor Deputy Assessor On file with County Auditor: Assessor Name Bond Expires Amount Surety Police department employees March 1, 1970 $ `5,000.00 i Allied Mutual Insurance Company All Village employees not otherwise required by law to be specifically j bonded j March 1, 1970 $50,000.00 Allied Mutual Insurance Company J. N. Dalen March 1, 1970 $50,000.00 Allied Mutual Insurance Company Florence B. Hallberg March 1, 1970 $ 500.00 Allied Mutual Insurance Company i Loukas M. Angelus + March 1, 1970 $ 500.00 Allied Mutual Insurance Company Kent Swanson March 1, 1970 $ 500.00 Allied Mutual Insurance Company Donald Kearns March 1, 1970 $ 500.00 ,.Allied Mutual Insurance Company INSURANCE COVERAGE VILLAGE OF. EDINA December 31, 1967 Building and contents (A): Village Hall Library Morningside municipal buildings Village garage Municipal liquor store 50th Street Municipal liquor store - Southdale Municipal.liquor store - Grandvvew Municipal golf course club house Municipal recreation center Municipal swimming pool Water reservoir Pumping stations (location):. Wooddale Halifax Southview Lane Southdale Concord Brookview Heights Hansen Road 76th Street 2nd Street 6500 Dewey Hill Road Sherwood Water tower - Concord Street Water tower - 69th Street Sanitary sewer lift station Bathhouse Maintenance building - golf course Range building - golf course Dwelling - Olinger Road Inventories: Liquor store - Southdale Liquor store - 50th Street Liquor store - Grandview Automotive: Bodily injury Property damage Comprehensive Village liquor stores: Comprehensive glass breakage Liquor liability Boiler - 50th Street Business interruption - 50th Street Business interruption - Southdale Business interruption - Grandview F ire and Extended Coverage Building Contents $456,500 $ 75,000 34,100 77,000 28,000 3,500 363,000 27,500 59,500 10,800 60,000 7,200 38,000 20,000 133,650 14,000 381,000 112,500 165,000 330,000 52,250 55,000 9,900 12,100 9,900 13,200 13,200 13,200 44,000 77,000 8,800 13,200 13,200 17,600 53,250 115,000 60,000 103,000 38,000 13,000 11,000 13,200 121,000 198,000 44,000 19,800 55,000 11,000 6,600 2,000 1,000 5,000 6,000 Other $ 175,000(D) 200,000(D) 125,000(D) $250 / 500,000 100,000 Actual cash value Actual(.B) 1,000,000(B) 50,000 115,000 90,000 50,000 INSURANCE COVERAGE ( Cont'd) Fire and Extended Coverage Building Contents Other Village liquor stores (cont'd): Burglary, robbery and theft - within premises Burglary, robbery and theft - outside premises Burglary, robbery and theft - merchandise Village golf course: Liquor liability. Burglary, robbery and theft - within premises Burglary, robbery and theft - outside premises Burglary, robbery and theft — merchandise Boiler Recreation center: Business interruption Burglary, robbery and theft - within premises Burglary, robbery and theft - outside premises Boiler 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 .Excess liability - umbrella policy Boiler Library Note A - 90% coinsurance. Note B - 50th Street, Southdale and Grandview. Note C - 40% coinsurance. Note D - Reporting form. Note E - Administration building, street department and library. $ 5,000(B) 5,000(B) 7,500(B). (C) 1,000,000 5,000 5,000 4,000(C) 50,000 80,000 2,500 2,500 50,000 $250/ 500,000 100,000 Statutory 3,000 97,440 Actual cosh value 2,000,000 50,000(E) (F) Note F.- Fire and extended coverage on 50th Street library during construction - $405,000 premise.; $10,000 other locations and $10,000 in transit. -87- Village Council: Mayor: . Arthur C. Bredesen, Jr. Trustees: James Van Va.lkenburg Hugh J. MacMillan Richard C. Johnson C.,Wayne Courtney Willis F. Shaw Village Manager: Warren C. Hyde Village Attorney: William A. Whitlock Clerk: Florence Hallberg Treasurer and Finance Director: J. N. Dalen Assessor: Donald Kearns Prosecuting Attorney: Walter Gustafson Director of Public Works and Assistant Manager: George C. Hite ORGANIZATION VILLAGE OF EDINA December 31, 1967 1969 1967 1968 1969 1970 Appointed by Council 1967 1968 Elected, Term Re- elected or Expires Re- appointed to December 31 December 31 1967 1969 1969 1967 1968 1969 1970 Appointed by Council 1967 1968