HomeMy WebLinkAbout1968 Financial Statements99m,
AUDITED FINANCIAL STATEMENTS
AND OTHER FINANCIAL INFORMATION
VILLAGE OF EDINA,.MINNESOTA
December 31, 1968
INDEX
ACCOUNTANTS' REPORT ON AUDITED FINANCIAL STATEMENTS........ PAGE 4
COMMENTS AND ACCOUNTANTS' REPORT ON OTHER FINANCIAL
INFORMATION ................ ............................... 5
FUND BALANCE SHEETS ......... ............................... 9
GENERAL FUND:
BALANCE SHEET ............. ............................... 11
STATEMENT OF SURPLUS ...... ............................... 12
ANALYSIS OF 'CHANGE IN CASH BALANCE ..........:............ 13
REVENUE ................... ............................... 14
EXPENDITURES .............. ............................... 15
CENTRAL SERVICES .......... ............................... 18
FIXEDASSETS .............. ............................... 19
BONDS PAYABLE ............. ............................... 20
POOR FUND:
BALANCE SHEET ................... ....................... 21
STATEMENT OF SURPLUS - UNAPPROPRIATED .................... 22
STATEMENT OF REVENUES AND EXPENDITURES ................... 22
ANALYSIS OF CHANGE IN CASH BALANCE ....................... 23
PARK FUND:
BALANCE SHEET ........................ ................. 24
STATEMENT OF UNAPPROPRIATED SURPLUS...................... 25
ANALYSIS OF SURPLUS INVESTED IN FIXED ASSETS ...:......... 25
ANALYSIS OF CHANGE IN CASH BALANCE... .................... 26
REVENUEAND EXPENDITURES .. ............................... 27
FIXEDASSETS .............. ............................... 28
SWIMMING -POOL FUND:
BALANCESHEET ............. ............................... 29
STATEMENTOF SURPLUS ...... ............................... 30
ANALYSIS OF CHANGE'IN CASH BALANCE ....................... 31
STATEMENT OF INCOME AND EXPENSE .......................... 32
STATEMENT OF INCOME.AND EXPENSE (CONCESSIONS ONLY) ....... 33
FIXED ASSETS .............. ............................... 34
GOLF COURSE FUND:
BALANCE SHEET ............. ............................... 35
STATEMENT OF SURPLUS ...... ............................... 36
ANALYSIS OF CHANGE IN CASH BALANCE ....................... 37
STATEMENT OF INCOME AND EXPENSE .......................... 38
STATEMENT OF INCOME AND EXPENSE - OPERATING DEPARTMENTS.. 40
FIXED ASSETS .............. ............................... 41
BONDS PAYABLE ............. ............................... 42
RECREATION CENTER FUND:
BALANCE SHEET ............. ............................... 43
STATEMENT OF SURPLUS ...... ............................... 44
ANALYSIS OF CHANGE'IN CASH BALANCE ....................... 45
STATEMENT OF INCOME AND EXPENSE .......................... 46
FIXED ASSETS .............. ............................... 47
BONDS PAYABLE ............. ............................... 48
INDEX (Cont'd)
PARKING SINKING FUND:
BALANCESHEET ............. ............................... PAGE 49
STATEMENT'OF SURPLUS ...... ............................... 50
ANALYSIS OF CHANGE IN .CASH BALANCE ....................... 51
BOND AND INTEREST MATURITIES AND DEFERRED TAX
LEVIES.... oo ..... o ..... o ........... o ............ o-o ..... 52
PARK CONSTRUCTION FUND:
BALANCESHEET ............. ............................... 53
ANALYSIS OF RESERVE FOR. CONSTRUCTION ..................... 54
ANALYSIS OF CHANGE IN CASH BALANCE ....................... 55
FIXEDASSETS. .... oo .... o.00.00.000.o.o ... o .... o-o ........ 56
IMPROVEMENT FUNDS:
COMBINEDBALANCE SHEET .... ............................... 58
STATEMENT OF SURPLUS — UNAPPROPRIATED .................... 59
ANALYSIS OF CHANGE IN CASH BALANCE ....................... 60
BONDSPAYABLE ............. ............................... 62
WATERWORKS FUND:
BALANCESHEET ............................ .............. 63
NOTES TO 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:
BALANCE SHEET ............. ............................... 70
STATEMENT OF SURPLUS ( DEFICIT ) ........................... 71
STATEMENT OF'INCOME AND EXPENSE .......................... 72
ANALYSIS OF CHANGE IN CASH BALANCE ....................... 73
FIXED ASSETS .............. ............................... 74
LIQUOR DISPENSARY FUND:
BALANCE SHEET ............. ...............................
STATEMENT OF SURPLUS .....................................
STATEMENT OF'INCOME AND EXPENSE ..........................
OPERATING' EXPENSES ........ ...............................
ANALYSIS OF CHANGE IN CASH BALANCE.......' ................
FIXED ASSETS .............. ...............................
GENERAL:
CASH — ALL FUNDS .........................................
SECURITY FO&. DEPOSITS......................................
INVESTMENTS ............... ...............................
TAXABLE VALUATIONS, TAX LEVIES AND RATES .................
OFFICIAL BONDS ............ ...............................
INSURANCE COVERAGE ........ ...............................
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, 1968 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, 1968 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.
JWVI�� JA
Minneapolis, Minnesota
June 5, 1969
-4-
ERNST & ERNST
FIRST NATIONAL BANK BLDG.
MINNEAPOLIS, MINN. 55402
COMMENTS.AND A000UNTANTS' 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,.hxcept 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, 1968 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, 1968 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, 1968 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-
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
Amount segregated and shown below
Receivables:
Taxes and special assessments:
Current
Delinquent
Deferred
Customers
Due from other funds
Due from State Aid Account — State of Minnesota
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 General
$ 450,222.05 $ .167,527.82
26,574.25
$ 476,796.30 $ 167,527.82
$ 2,785,530.81 $ 300,000.00
427,215.16
$ 3,212,745.97 $ 300,000.00
67,672.00
$ 3,145,073.97 $ 300,000.00
$ 1,679,533.57
$ 8,742.12
325,665.12
45,217.30
8,616,963.83
18,409.04
92,650.10
684,778.26
221,629.89
195,000.00
65,494.28
41,371.69
$11,660,085.16
$ 335,370.04
838,941.49
45,217.30
$10,821,143.67
$ 290,152.74
314,541.95
10,000.00
19,882.64
67,672.00
3,681,731.68
11,341,431.14 2,445,105.30
89,115.70
$29,957,389.05 $3,212,785.86
Current and delinquent taxes and special assessments and tax settlements received
during the year were confirmed by direct correspondence with the County Auditor.
We reviewed delinquent taxes reported to us and adjusted the balances to conform
to the County Auditor's balances. Transactions pertaining to special assessments
receivable were reviewed.
Interfund transfers and charges and interfund balances were reviewed by us.
We were.present at the municipal liquor stores at.the time physical inventories
were taken. We observed 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, 1968.
All canceled bonds redeemed and paid during 1968 were inspected by us. We inspected
interest coupons redeemed and paid during 1968 on a test basis.
Official minutes of the Village Council for 1968 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 2'O,..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 loss of $958.45 is after the provision
of $6,382.50 for interest on bonded debt issued for the swimming pool facilities,
and the provision of $380.24 for depreciation,computed by the straight line method,
on swimming pool equipment.
U
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 $34,321.56 is after the provision of $25,244.00.for interest on
bonded debt issued for the golf course facilities, and the provision of $6,843.00
for depreciation, ;.computed by the straight line:. method, on-golf course equipment.
$25,000.00 of .the .bonded.debt matured and was redeemed in 1968.
RECREATION CENTER FUND
Net revenues of the Liquor Dispensary Fund are pledged to secure payment of
obligations of the Recreation .Center Fund. Detail schedules covering operations of
this fund appear on pages 43 to 48, inclusive. The net income of $23,648.96 is
after the provision of $14,140.74 for interest on bonded debt issued for the
recreational center facilities and the provision of $2,357.28 for depreciation,
computed by the straight line method, on recreational center equipment. $15,000.00
of bonded debt matured and was redeemed in 1968.
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. $40,000.00 of the bonded debt matured and was
redeemed in 1968.
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 $182,189.11 were purchased during the year. Funds were made
available from $180,000.00 in transfers from the Liquor Dispensary Fund.
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 fromthe 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.
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.
-7-
Funds in the amount of $2,000,000.00 were made available from the sale of General
Obligation Improvement Bonds in 1968. The proceeds were used to finance current
construction. The bonds bear interest at rates from 3.50 to 4.007. and $200,000.00
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. A
$195,000.00 3.5% bond due 1970 was issued in 1968 by the Municipal State -Aid
Street Bond Fund. The bond was purchased as an investment by the Improvement Bond
Redemption Fund and is classified as such on the Fund's Balance Sheet as of
December 31, 1968. Proceeds of the bond were advanced to the State of Minnesota -
State Aid Account to finance the State's share of current construction on State-
Aid Streets. The bond will be redeemed with funds received from the State.
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
$48,425.96 is after the provision of $20,811.00 for interest on bonded debt issued
for the waterworks facilities and the provision of $170,155.00 for depreciation on
the facilities. $48,000.00 of the bonded debt matured and was redeemed in 1968..
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 $335,127.34 for the year is after the provision of $7,763.00 of
depreciation, computed by the straight line method, on liquor store equipment.
Of this amount, $325,000.00 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 re-
quired by M. S. A. Section 412.281.
Minneapolis, Minnesota
June 5, 1969
Poor Park
$ 2,274.55 $ 27,272.19
$ 2,274.55 $ 27;272.19
$15,000.00
12,000.00
$27,000.00 $- -
$27,000.00 $ -
$29,274.55
.�
531,,;'074.05
$558,946.24
FUND BALANCE SHEETS
VILLAGE OF EDINA
December 31, 1968,
Swimming
Pool
$ 14,996.28*
$ 14,996.28*
211,565.50
$196,569.22
Golf.Course
$ 3,384.08
$ 3,384.08
$ 60,307.34
$ 60,307.34
$ 60,307.34
$ 1,720.90
4,323.00
$ 6,043.90
$ 6,043.90
.168.41
977,047.18
$1;046,950.91
Recreation
Center
—
$ 24,535.84
$ 24,535.84
$ 45,461.01
$ 45,461.01
$ 3,885.50
8,933.65
$ 12,819.15
$ 12,819.15
2,136.99
850.74
560,529.73
$646,333.45
Park
I
Park
Sinking
Construction
L
$ 17,917.50
$
11,298.35
$ 17,917.50
$
$
11,298.35
$ 66,477.00
$
40,000.00
10,000.00
$
15,000.00
$ 76,477.00
$
55,000.00
$ 76,477.00
$
221,938.40
55,000.00
$ 63,000.00
2,897,033.21
. 1,400.22
5,688,172.00
89,115.70
686,000.00
„
$6,121,893.64
i
6,000.00
$
1,550.00
$756,400.22
$
1,550.00
38,850.22
$717,550.00
$
1,550;00
784,698.47
853,848.74
$811,944.50 $1,706,395.56
i
I
i
Improvement Waterworks
$ 118,522.10
$
24,616.86
7,912,554.79
26,574.25
$ 118,522.10
$
51,191.11
$ 1,732,832.99
$
289,610.40
363,000.00
$10,188,172.68
$ 2,095,832.99
$
289,610.40
$ 9,433,298.71
$ 74,805.06
67,672.00
$ 2,095,832.99
$
221,938.40
$ 1,607,791.45
279,047.60
7,912,554.79
$ 60,869.59
169,656.25
13,935.47
195,000.00
24,122.59
$10,188,172.68
$ 74,805.06
754,873.97
$ 9,433,298.71
$ 74,805.06
17,589.07
14,607.45
526.00
67,672.00
2,897,033.21
5,688,172.00
89,115.70
$14,648,410.16
$6,121,893.64
i
Sewer Liquor
Rental Dispensary
$ 17,437.82 $.50,431.22
$ 17,437.82 $ 50,431.22
$ 61,229.37 $174,612.70
27,215.16
$ 61,229.37 $201,827.86
$ 61,229.37 $201,827.86
$ 26,174.11
$ 26,174.11
$ 26,174,11
24.00
$258,750.00
$258,750.00
284,215.90
3,706.04
12;920.04 61,168.60
y,
$117,785.34 $860,099.62
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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
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
$ 684,778.26
310,927.22
21,203.87
10,503.30
31,067.85
9,063.00
106,406.21
21,274.44
676,993.04
25,408.15
198,498.75
13,822,000.00
102,106.65
63,456.46
9,913,543.21
550.00
183,046.25
278,500.00
3,498,062.39
$29,957,389.05
General
$ 26,556.89
94,740.15
10,330.14
491.34
60,261.39
21,274.44
54,000.00
2,445,105.30
550.00
278,500.00
220,976.21
$3,212,785.86
FUND BALANCE SHEETS (Cont'd)
Swimming
Poor Park Pool Golf Course
$ 14,371.90 $ 6,000.00 $ 258,750.00
1,986.11 179.40 958.22
4,388.02
25,408.15
750,000.00
Recreation
Park
Center
Sinking
$100,550.00
$ 1,000.00
7,984.94
Waterworks
1,381.65
Dispensary
4,696.67
22,135.00
9,063.00
135,495.00
435,000.00 610,000.00
531,074.05 211,565.50 25,529.73
52,300.00 36,500.00
$29,274.55 ( 18,281.99) ( 21,175.68) ( 15,057.31) 25,627.46 43,314.50
$29,274.55 $558,946.24 $196,569.22 $1,046,950.91 $646,333.45 $811,944.50
Park
Sewer
Liquor
Construction
Improvement
Waterworks
Rental
Dispensary
$ 46,144.85
$ 227,572.30
$ 3,832.32
1,699.29
2,027.69
15,601.72
$149,791.48
$ 35,958.22
770.82
753.48
3,579.76
10,503.30
3,744.84
61,839.22
35,704.21
1,561,007.99
$1,706,395.56
46,144.82
615,153.82
63,003.75
11,350,000.00
102,106.65
27,752.25
623,000.00
5,065,172.00 12,920.04 61,168.60
94,246.25
2,204,145.58 315,525.69 ( 45,679.66) 759,393.04
$14,648,410.16 $6,121,893.64 $117,785.34 $860,099.62
-10-
GENERAL FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1968
Cash:
Demand deposits
Time deposits
Working funds
Investments - at face value:
Federal Land Bank bonds
United States Treasury bills
Federal National Mortgage Association
Certificate
Receivables:
Accounts receivables
Special assessments - current
Special assessments - deferred
Due from other funds
Supply inventory - estimated
Taxes receivable - delinquent
Less allowance for delinquent taxes
Fixed assets
ASSETS
$ 131,977.82
35,000.00
$ 8,742.12
18,409.04
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
Surplus:
Invested in fixed assets:
Direct
Annexed from Morningside - invested
in fixed assets
Contributed - invested in fixed assets
Appropriated:
Reserve for commitments
For imprest cash
Unappropriated
$2,350,492.19
27,650.00
66,963.11
$ 166,977.82
550.00
$ 50,000.00
200,000.00
50,000.00
$ 41,371.69
27,151.16
221,629.89
$ 45,217.30
45,217.30
$ .94,740.15
10,330.14
21,274.44
40,628.58
14,718.43
4.914.38
$ 54,000.00
491.34
$2,445,105.30
278,500.00
550.00
$ 167,527.82
300,000.00
290,152.74
10,000.00
2,445,105.30
$3,212,785.86
$ 26,556.89
186,606.12
54,491.34
2,724,155.30
220,976.21
$3,212,785.86
-11-
GENERAL FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year Ended December 31, 1968
APPROPRIATED
Balance at.January 1, 1968
.Additions:
Transfers from unappropriated surplus:
Total
$2,454,409.32
For fixed assets - net 332,568.98
For commitments 140,250.00
_$2,927,228.30
Deductions:
Transfer to revenue $ 1983,773.00
Equipment sold 4,300.00
$ 203, 073 .00
Balance at December 31, 1968 $217243,155.30
UNAPPROPRIATED
Balance at.January 1, 1968
.Additions:
Revenue - see - separate schedule
Installment on voting machines
Less:
Expenditures - see separate schedule
Deductions:
Transfer to revenue
General Fund share of construction costs
Invested in
Fixed Assets
$2,0171923.21
332,568.98
$2,350,492.19
$2,350;492.19
Contributed
$70;863.11
$70,863.11
$:3,900.00
$ 3,900.00
$66,963.11
Contributed
by Annexation
$ 28,050.00
$ 28,050.00
$ 400.00
$ 400.00
$ 27;650.00
$2,409,177.12
For Imprest
Cash
$ 550.00
$ 550.00
$ 550.00
For
Commitments
$337,023.00
140,250.00
$4771273.00
$198,773.00
$1982773.00
$278,500.00
$132,854.39
1,624.00 $2,410;801.12
2,235,305.88 1752495.24
$308,349.63
$ 74,752.00
12,621.42 .873P373.42 .
Balance at December 31, 1968 $220,976.21
i
-12-
GENERAL FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE 'OF EDINA
Year Ended December 31, 1968
Balance at January 1, 1968
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,.1967
Payments received from Independent School
District No. 273 for gasoline purchases
Contributions to Edina :Library Fund
Less payments from fund
Deductions:
Disbursements - per separate schedule
Gasoline purchased for Independent
School District No. 273
Charges to accounts receivable
Payments on accruals at December 31, 1967:
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
Summary:
Demand deposits
Time deposits
$ 188,904.57
$2,090,202.40
400,000.00
$ 13,935.47
21,924.44 35,859.91
108,894.02
19,891.90
$ 15,860.59
7,332.80 8,527.79 2,663,376.02
$2,852,280.59
$1,985,678.58
18,665.98
1,337.66
$ 78, 805.65
3,661.32
19,382.99
14,246.80 116,096.76
11,000.00
550,000.00
22523.79 2,685;302.77
Balance at December 31, 1968 $ 1661P977.82
$131,977.82
35,000.00
$166,977.82
-13-
GENERAL FUND
REVENUE
VILLAGE OF EDINA
Year Ended December 31, 1968
Real and personal property taxes:
Received from direct local levies
Received from Sales Tax Replacement Fund:
Personal property
Thirty -five per cent forgiveness
TOTAL SALES TAX"-REPLACEMENT FUND
TOTAL REAL AND PERSONAL PROPERTY TAXES
Other taxes
Bicycle licenses
Beer and liquor licenses
Cigarette licenses
Dog and impounding fees
Receipts
$ 883,258.00
$ 31,301.00
.245,885.00
$ 277,186,00
$1,160,444.00
37,010.00
2,217.00
1,400.00
1,430.00
6,363.00
Accruals
Revenues
$ 883,258.00
$ 31,301.00
245,885.00
$ 277,186.00
$1,160,444.00
37,010.00
2,217.00
1,400.00
1,430.00
6,363.00
i
i
Estimated
Revenue
$ 873,410.00
$ 31,301.00
245,885.00
$ 277,186.00
$1,150,596.00
33,000.00
2,200.00
1,500.00
1,400.00
7,500.00
Actual
Revenue
Over - Under*
Estimated
Revenue
$ 9,848.00
$ 9,848.00
4,010.00
17.00
100.00*
30.00
1,137.00*
Food and soft drinks
4,280:.00
4,280:.00
43,500.00
220.00*
Gas pump licenses
959.00
959.00
700.00
259.00
Bowling, taxi, pinball, etc.
4,302.00
4,302.00
4,000.00
302.00
Heating and ventilating licenses
739.00
739.00
739.00
Water softener installation licenses
60.00
60.00
60.00
Scavenger and garbage collectors
569.00
569.00
600.00
31.00*
Building permits
81,682.00
81,682.00
56,000.00
25,682.00
Cesspool and sewer permits
2,741.00
2,741.00
2,000.00
741.00
Plumbing permits
29,992.00
29,992.00
12,500.00
17,492.00
Sign permits
508.00 ($ 146.00)
362.00
3,200.00
2,838.00*
Other permits and fees
Heating permits
Street opening fees
Planning fees
Engineering, clerical and searches
Police service
Equipment rental
Municipal court fines
Income on investments
State apportionment - sales and use
State apportionment -'highway
State apportionment - liquor and cigarette
Contribution from active funds
Charges(to other funds
Sale of `fixed assets
Discount earned
Other revenue
Transfer reserve for commitments
Transfer - unappropriated surplus
Transfer - Library Fund
( ) Indicates negative amount.
187.00
7,158.00
1,874.00
2,718.00
221,724.94
3,875.00
15,237.01
38,345.00
14,191.00
194,617.00
43,140.00
126,017.00
51,394.00
14,400.00
843.00
1,589.00
18,196.45
,$2,09.0,202.40
N
21,917.00
3,148.00
7,352.00
( 1,259.00)
89.00
4,348.72
198,773.00
74,752.00
10,000.00
$318,974.72
187.00
7,158.00
1,874.00
2,718.00
243,641.94
7,023.00
15,237.01
45,697.00
12,932.00
194,617.00
43,140.00
126,017.00
51,394.00
14,400.00
843.00
1,678.00
22,545.17
198,773.00
74,752.00
10,000.00
$2,409,177.12
1,400.00
3,500.00
900.00
2,000.00
200,000.00
7,600.00
2,500.00
45,000.00
13,550.00
194,617.00
43,000.00
127;200.00
51,394.00
14,400.00
300.00
9,500.00
198,773.00
74,752.00
10.000.00
$2,280,082.00
1,213.00*
3,658.00
974.00
718.00
43,641.94
577.00*
12,737.01
697.00
618.00*
140.00
1,183.00*
543.00
1,678.00
13,045.17
$129,095.12
-14-
GENERAL FUND
EXPENDITURES
VILLAGE OF EDINA
Year Ended December 31, 1968
GENERAL GOVERNMENT
Mayor and Council
Planning
Administration:
Personal services
Contractual services
Commodities
Fixed charges
Finance:
Personal--services
Contractual services
Commodities
Fixed _charges
Elections
Assessing:
Personal services
Contractual.serviges
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
$ 10,769.00
20,060.00
$ 46,052.00
6,777.00
150.00
13,800.00
$ 66,779.00
$ 41,579.00
2,717.00
17.00
9,960.00
$ 54,273.00
8,558.00
$ 46,532.00
1,131.00
253.00
11,160.00
$ 59,076.00
27,512.00
12,493.00
$ 259,520.00
$ 18,835.00
167.00
4,236.00
$ 23,238.00
$ 33,995.00
.145,191.00
15,248.00
$ 194,434.00
$ 61,411.00
489.00
23,022.00
$ 6,263.42
28,940.00
42,808.00
4,202.00
$ 82,213.42
Encumbrances
I
$ 484.00
1,010.00
i
$ 919.00
111.00
$ 1,030.00
I
$ 3.00
$ 3.00
I
i
$ 49.00
$ 49.00
12,355.00
1,451.00
$ 16,382..00
$ 732.00
1,303.00
. 391.00
$ 2,426.00
$ 108.00
1,474.00
$ 3,938.30
1,521.00
487.00
$ 5,946.30
Exvenditures
$ 11,253.00
21,070.00
$ 46,971.00
6,888.00
150.00
13,800.00
$ 67,809.00
$ 41,579.00
2,720.00
17.00
9,960.00
$ 54,276.00
8,558.00
$ 46,532.00
1,180.00
253.00
.11,160.00
$ 59,125.00
39,867.00
13,944.00
$ 275,9.02.00
$ 18,835.00
167.00
4,236.00
$ 23,238.00
$ 34,727.00
146,494.00
15,639.00
$ 196,860.00
$ 61,519.00
489.00
24,496.00
$ 10,201.72
30,461.00
43,295.00
4,202.00
$ 88,159.72
Appropriation
$ 10,970.00
21,196.00
f $ 46,972.00
6,516.00
150.00
13,800.00
$ 67,438.00
i
$ 41,595.00
2,730.00
25.00
9,960.00
$ 54,310.00
5,335.00
$ 46,550.00
1,231.00
335.00
11,160.00
$ 59,276.00
39,020.00
13,230.00
$ 273,775.00
$ 18,850.00
175.00
4,236.00
$ 23,261.00
$ 34,750.00
146,500.00
15,650.00
$ 196,900.00
$ 61,690.00
800.00
j 25,000.00
$ 10,558.00
34,174.00
44,290.00
5,058.00
$ 94,080.00
Unexpended
Balance
$ 283.00*
126.00
$ 1.00
372.00*
$ 371.00*
$ 16.00
10.00
8.00
$ 34.00
223.00*
$ . 18.00
51.00
82.00
$ 151.00
847.00*
714.00*
$ 2;127.00*
$ 15.00
8.00
$ 23.00
$ 23.00
6.00
11.00
$ 40.00
$ 17.1.00
311.00
504.00
$ 356.28
3,713.00
995.00
856.00
$ 5,920.28
.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
i
i
Disbursements
$ 40,452.00
44,843:00
1,212.00
48,846.00
.56,995.00
10,473.00
$ 9,189.0.0
7,051.00
4, 821.00
$ 21,061.00
5,488.00
2,157.00
36,407.00
2, 878.00
$ 8,807.00
10,432.54
$ 19,239.54
302.00 `.
9,709.00
$_ 467,197.96
$ 684,869.96
$ 324,663.83
9,666.00
.4,551.00
100,080.00
$ 438,960.83
$ 133,754.00
3,275.00
2,947.00
45,180.00
$ 185,156.00
2,985.00
$ 18,636.00
1,274.00
2,194.00
4.716.00
$ 26,820.00
Encumbrances
$ 7,718.00
.3,413.00
48.00
$ 919.00
790.00
329.00
$ 2,038.00
375.00
$ 137.00
$ 137.00
$-21,257.30
$ 23,683.30
$ 403.00
240.00
510.00
$ 1,153.00
$ 255.00
328.00*
$ 73.00*
327.00
$ 1,672.00*
29.00*
919.00*
$ 2,620.00*
Expenditures ' Appropriation
$ 40,452.00
44,843.00
1;212.00
56,564.00
60,408.00
10,521.00
$ 10,108.00
7,841.00
5.150.00
$ 23,099.00
5,488.00
2,157.00
36,782.00
2,878.00
$ 8,807.00
.10.569.54
$ .19;376.54
302.00
9,709.00
$ 488,455.26
$ 7081553.26
$ 325,066.83
9,906.00
5,061.00
.100.080.00
$ 440,113.83
$ 133,754.00
3,530.00
2,619.00
45.180.00
$ 185,083.00
3,312.00
$ 16,964.00
1,245.00
1,275.00
4.716.00
$ 24,200.00
$ 42,270.00
50,000.00
2,900.00
60,480.00
62,100.00
12,820.00
$ 12,880.00
8,880.00
5.220.00
$ 26,980.00
5,720.00
3,340.00
38,080.00
5,720.00
$ 11,600.00
10.680.00
$ :22,280.00
1,000.00
12,560.00
$ 527,820.00
; $ 747,981.00
$ 325,109.00
9,980.00
5,109.00
100.080.00
$ 440,278.00
$ .133,776.00
3,576.00
2,674.00
45.180.00
$ 185,206.00
3,627.00
$ 16,980.00
1,285.00
1,236.00
_.4,716.00
$ 24,217.00
Unexpended
Balance
$ 1,818.00
5,157.00
1,688.00
3,916.00
1,692.00
2,299.00
$ 2,772.00
1,039.00
70.00
$ 3,881.00
232.00
1,183.00
1,298.00
2,842.00
$.2,793.00
.110.46
$ 2,903.46
698.00
2,851.00
$39,364._74
$39,427.74
$ 42.17
74.00
48.00
$ 164.17
$ 22.00
46.00
55.00
$ 123.00
315.00
$ 16.00
40.00
39.00*
$ 17.00
-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
Special assessments on Village park property
TOTAL NON- DEPARTMENTAL
CENTRAL SERVICES
.See separate schedule attached
TOTAL OPERATING:EXPENSES
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
TOTAL CAPITAL OUTLAY
RESERVE FOR COMMITMENTS
Finance
Public works
Fire protection
Unallocated capital outlay
Capital improvements
Disbursements
$ 13,543.00
$ 32,159.00
2,472.00
360.00
7.356.00
$ 42,347.00
$ 709 .811.83
$ 31711.67.
34.909.00
$ 38,620.67
36.176.88*
$1,656,645.58
$ 30.00
300.00
1,208.00
43,681.00
13,393.00 j
3,540.00
300.00*
98.00
2,474.00
3,238.00
3,593.00
257,778.00
$ 329,033.00
TOTAL RESERVE FOR COMMITMENTS $ -
TOTAL .$1,985,678.58
* Indicates red figure.
-17-
Unexpended
Encumbrances
Expenditures
Appropriation
Balance
$
1,149.00
$
14,692.00
$
14,900.00
$
208.00
$
32,159:.00
$
32,160.00
$
1.00
$
156.00
2,628.00
2,666.00
38.00
224.00
584.00
600.00
16.00
7,356.00
7,356.00
-
$
380.00
$
42,727.00
$
42,782.00
$
55.00
$
316.00
$
710,127.83
$
711;010.00
$
882.17
$
356.00*
$
3,355.67
$
4,397.00
$
1,041.33
4.00%
34,913.00
33,750.00
1,163.00*
$
352.00*
$
38,268.67
$
38,147.00
$
121.67*
40,890.00
4,713.12
10,350.00
5,636.8_8
$
80,919.30
$1,737,564.88
$1;781,263.00
$43,698.12
$
30.00
$
30.00
$,
-
300.00
525.00
225.00
60..00
60.00
$
1.00*
1,207.00
805.00
402.00*
378.00
44,059.00
44,500.00
441.00
13,393.00
13,039.00
354.00*
1,990.00
5,530.00
2,525.00
3,005.00*
300.00*
300.00*
-
9 8.00
110.00
. 12.00
2,474.00
2,500.00
26.00
3,238.00
3,250.00
12.00
3,593.00
3,600.00
7.00
26,091.00
283,869.00
287,925.00
4,056.00
$
28,458.00
$
357,491.00
$
358,569.00
$
1,078.00
$
10,000.00
$
10,000.00
$
10,000.00
$
-
8,000.00
8,000.00
8,000.00
-
20,000.00
20,000.00
20,000.00
-
2,250.00
2,250.00
2,250.00
-
100,000.00
.100,000.00
100,000.00
-
$140,250.00
$
140,250.00
$
140,250.00
$
$249,627.30
$2,235,305.88
$2,280,082.00
$44,776.12
-17-
GENERAL FUND
CENTRAL SERVICES
VILLAGE OF EDINA
Year Ended December 31, 1968
General:
Contractual services
Commodities
TOTAL GENERAL
Village Hall:,
Personal services
Contractual services
Commodities
Fixed charges
TOTAL VILLAGE HALL
Garage
Equipment operation:
Personal services
Contractual services
Commodities
Fixed charges
Gasoline and fuel oil
Tires and tubes
Lubricants
Parts and accessories
TOTAL EQUIPMENT OPERATION
Less allocations to other departments or funds
TOTAL
* Indicates red figure.
-18-
Unexpended
Disbursements
Encumbrances
Expenditures
Appropriation
Balance
$233,645.00 i
$25,984.00.
$259,629.00
$269,340.00
$9,711.00
7,323.00
. 494.00
7,817.00
8,000.00
183.00
$240,968.00
$26,478.00
$267,446.00
$277,340.00
$9,894.00
$ 10,978.00
$ 258.00
$ 11,236.00
$ 10,968.00
$ 268.00*
10,504.00
1,483.00
11,987.00
10,955.00
1,032.00*
2,670.00
207.00
2,877.00
2,917.00
40.00
1,260.00
1,260.00
1,260.00
-
$ 25,412.00
$ 1,948.00
$ 27,360.00
$ 26,100.00
$1,260.00*
17,989.00
1,993.00
19,982.00
19,780.00
202.00*
$ 45,138.00
$ 950.00
$ 46,088.00
$ 46,100.00
$ 12.00
19,679.00
2,570.00
22,249.00
22,300.00
51.00
12,605.12
2,107.00
14,712.12
14,750.00
37.88
22,980.00
22,980.00
22,980.00
-
23,556.00
1,809.00
25,365.00
25,400.00
35.00
7,202.00
946.00
8,148.00
5,000.00
3,148.00*
2,239.00
2,239.00
22300.00
61.00
121'055 00
10;081
0 .00
0
172,925.012
170,130.00
0
2,795.102*
$446,823.12
$40,890.00
$487,713.12
$493,350.00
$5,636.88
483 - ,000.00
483,000.00
483,000.00
-
$ 36,176.88*
$40,890.00
$ 4,713.12
$ 10,350.00
$5,636.88
-18-
Land
Land improvements
Buildings
Furniture and fixtures
Equipment:
Highway
Police
Fire
Election
Engineering
Traffic signals
Executive
Miscellaneous
Construction in progress -
library
GENERAL FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December 31, 1968
Balance Balance
January 1, December 31,
1968 Additions Deductions 1968
$ 2763316.24 $ 276,316.24
140,240.38 $ .3,238.00 143,478.38
710,362.67 450,298.00 1,160,660.67
59,856.59 21655.00 $ 449.98 62,061.61
396;020.25 32,045.87
48,495.82 12,815.00
.96,633.05 5,292.00
96,257.93
30,490.23 739.00
64,735.18 19,972.00
1,834.15
32,066.83
13,525.91 414,540.21
17,383.00 43,927.82
3,900.00 983025.05
.96,257.93
31,229.23
84,707.18
.1,834.15
32, 066.83
163,527.00 283,869.00(A) 447,396.00 -
TOTAL $2,116,836.32 $810,923.87 $482,654.89 $2,445,105.30
Note A - Construction of the library was completed in 1968 and the $447,396.00 of cost
incurred were transferred to the building account.
-19-
GENERAL FUND
BONDS PAYABLE
VILLAGE OF EDINA
December 31, 1968
Annual maturities and interest dates
Interest rates
Year
1969
1970
1971
1972
1973
1974
1975
Sanitary Sewer
Improvement
Total No. 8
February 1
$16,000.00
10,000.00
8,000.00
5,000.00
5,000.00
5,000.00
5.000.00
$54,000.00
3.4%
$4,000.00
$4,000.00
$4,000.00 $9,000.00
Street
Improvement
No. 14
May 1 and
November 1
3.9%
$ 7,000.00
5,000.00
5,000.00
5,000.00
5,000.00
5,000.00
5.000.00
$37,000.00
-20-
Sanitary Sewer
Improvement
Sanitary Sewer
No. 11 and
and Watermain
Curb and Gutter
Improvement
Improvement.
No. 9
No. 12
February 1 and
February 1 and
August 1
August 1
4%
3.4%
$2,000.00
$3,000.00
2,000.00
3,000.00
3,000.00
$4,000.00 $9,000.00
Street
Improvement
No. 14
May 1 and
November 1
3.9%
$ 7,000.00
5,000.00
5,000.00
5,000.00
5,000.00
5,000.00
5.000.00
$37,000.00
-20-
POOR FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1968
ASSETS
Cash on deposit
Investments - at face value:
Village of Edina - 2.5% Waterworks Revenue
Bonds of 1955
United States Treasury notes
SURPLUS
Unappropriated surplus.
$12,000.00
15,000.00
$ 2,274.55
27,000.00
$29,274.55
$29,274.55
-21-
Balance at January 1, 1968
Additions:
Net income for year
POOR FUND
STATEMENT OF SURPLUS - UNAPPROPRIATED
VILLAGE OF EDINA
Year Ended December 31, 1968
$26,225.61
3,048-.94
Balance at December 31, 1968 $29,274.55
STATEMENT OF REVENUES AND EXPENDITURES
Year Ended December 31 Increase
1968 1967 Decrease*
Revenue receipts and accruals:
Tax settlements $15,339.11 $14,813.53 $ 525.58
Income on investments 432.19 167.50 264.69
$15,771.30 $14,981.03 $ .790.27
Disbursements and accruals:
Suburban Hennepin County Relief Board:
Relief orders
Administration
Rural Hennepin County Nursing Committee
Professional services
$ 565.25
1,058.62
10,998.49
100.00
$12,722.36
NET INCOME $.3,048.94
$ 804.86
617.42
9,880.00
100.00
$11,402.28
$ 3,578.75
$ 239.61*
441.20
1,118.49
$ 1,320.08
$ 529.81*
-22-
POOR FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1968
Balance at January 1, 1968
Additions:
Tax settlements received:
March 1968
June 1968
November 1968
Income on investments
Deductions:
Payment to Suburban.Hennepin County
Relief Board:
Relief orders
Administration
Rural Hennepin County Nursing Committee
Professional service
Purchase of investments
$ 763.03
7,526..24
7,049.84 $15,339.11
432.19
$14,225.61
15,771.30
$29,996.91
$ 565.25
1,058.62 $ 1,623.87
10,998.49
100.00
15,000.00. $27,722.36
Balance at December 31, 1968 $ 2,274.55
-23-
PARK FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1968
ASSETS
Cash:
Demand deposits
Receivables:
Taxes receivable - delinquent
Less allowance for delinquent taxes
Inventory of supplies - estimated
Fixed assets - on the basis of cost
LIABILITIES AND SURPLUS
Liabilities:
Trade accounts payable
Accrued salaries and wages
Due to other funds
Unexpended contributions for specific purposes:
Dwight Williams Memorial Park
Wooddale Park - improvements and recreation program
Cornelia Lake Park - improvement
Braemar Sports Complex
Park District No. 2
Park District No. 3
Park District No. 4
Park District No. 5
Figure skating and skiing instructors' salaries
Hockey equipment
Edina Swim Club
Other
Surplus:
Invested in fixed assets:
Direct
Contributed:
Property and special assessment paid
by General Fund
Property donated by others
Unappropriated (deficit)
$308,825.65
10,558.66
$ 2,884.81
2,884.81
$ 100.00
1,416.31
7.1.00
1,738.34.
6,185.00
2,150.00
3,400.00
500.00
8,616.46
591.68
146.47
492.89
$211,689.74
319,384.31
$ 27,272.19
.600.00
531.074.05
$558,946.24
$ 1,986-.11
4,388.02
14,371.90
25,408.15
531,074.05
(: 18,281.99)
$558,946.24
-24-
PARK FUND
STATEMENT OF UNAPPROPRIATED SURPLUS
VILLAGE OF ED INA "
Year Ended December 31, 1968
Balance (deficit) at January 1, 1968
Additions:
Revenue for year (see separate schedule for details)
Less amount transferred to revenue included in
the above
($ 2,741.65)
$210,384.66
1,500.00 208,884.66
$206,143.01
Deductions:
Expenditures for year, including $12,656.00 for
capital outlay for fixed assets (see detail schedule) 224,425.00
Balance (deficit) at December 31, 1968 ($ 18,281.99)
ANALYSIS OF SURPLUS INVESTED IN FIXED ASSETS
Balance at January 1, 1968
Additions for the year:
From unappropriated surplus
Special assessments paid by
General Fund
Contributed`
By General
Fund by
Payment of
Special
Combined Assessments By Others
$489,703.74 $275,522.29 $10,558.66
12,656.00
33,303.36 33,303.36
$535,663.10 $308,825.65
Direct
Investment
in Fixed
Assets
$203,622 -.79
12,656.00
$10,558.66 $216,278.79
Deduct:
Fixed assets traded in 4,589.05 4,589.05
Balance at December 31, 1968 $531,074.05 $308,825.65 $10,558.66 $211,689.74
-25-
PARK FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1968
Balance at January 1, 1968
Additions:
Receipts for year (see separate schedule for details)
Registration fees - figure skating and skiing
Dedicated funds:
Hockey $1,634.90
Braemar Sports Complex 1,738.34
Teen -Age Recreation 2,862.81
Miscellaneous 212.00
Decrease in-amount due from other funds
Deductions:
Disbursements for,year (see separate schedule
for details)
Expenses - figure skating and skiing
Payment on accruals at December 31, 1967:
Trade accounts
Accrued payroll
Due, to other funds.
Payment from dedicated funds
$212,453.04
25,932.91
6,448.05
2,780.00
$216,181.00
14,931.13
$:30,538.95
247,614.00
$278,152.95
$2,213.29
3,292.72
9,746.87 15,252.88
4,515.75 250,880.76
Balance at December 31, 1968 $ 27,272.19
-26-
PARK FUND
REVENUE AND EXPENDITURES
VILLAGE OF EDINA
Year Ended December 31, 1968
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.
Actual
Revenue
Over- Under*
r
Estimated
Estimated
Receipts
Accruals
Revenue
Revenue
Revenue
$ 9.2,877.00
$ 92,877.00
$
93,319.00
$ 442.00*
25,864.00
($3,573.00)
22,291.00
23,000.00
709.00*
93,606.00
93,606.00
93,606.00
-
1,500.00
1,500.00
1,5,00.00
-
�} 106.04
4.62
110.66
1,000.00
889.34*
TOTAL REVENUE
$212,453.04
($2,068.38)
$210,384.66
$212,425.00
$ 2,040.34*
Unexpended
Disbursements
Emcumbrances
Expenditures
Appropriation
Balance
$ 27,889.00
$ 27,889.00
$
28,050.00
$ 161.00
1,706.00
1,706.00
1,7 ,60.00
54.00
50.00
$ 42.00
92.00
1'25.00
33.00
26,160.00
26,160.00
26,160.00
-
114.00
114.00
200.00
86.00
8,314.00
587.00
8,901.00
8,312.00
( 589.00)
TOTAL ADMINISTRATION
$ 64,233.00
$ 629.00
$ 64,862.00
$
64,607.00
($ 255.00)
12,656.00
12,656.00
12,700.00
44.00
$ 3,548.00
$ 3,548.00
$
3,640.00
$ 92.00
8,146.00
$ 646.00
8,792.00
8,850.00
58.00
.1,492.00
1,492.00
1,600.00_
108.00
10,699.00
10,699.00
10,7!50.00
51.00
16,478.00
16,478.00
16,-500.00
22.00
5,214.00
14.00
5;228.00
5,450.00
222.00
TOTAL RECREATION
$ 45,577.00
$ 660.00
$ 4610237.00
$
46,790.00
$ 553.00
$ 11,307.00
;
$ 11,307.00
$
112325.00
$ 18.00
14,104.00
$1,115:00
152219.00
15,225.00
6.00
7,368.00
887.00
8,255.00
8,275.00
20.00
42978.00
4,978.00
5,000.00
22.00
12844.00
1,844.00
12850.00
6.00
282549.00
( 1,432.00)
27,117.00
20,6;79.00
( 62438.00)
25,565.00
6,385.00
31,950.00
25,974.00
( 5,976.00)
TOTAL MAINTENANCE
$.93,715.00
$6,955.00
$100,670.00
$
88,328.00
($12,342.00)
TOTAL EXPENDITURES
$216,181.00
$8,244.00
$224,425.00
$212,425.00
($122000.00)
-27-
PARK FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December 31, 1968
Land
Skating rinks
Land improvements
Building
Park equipment
Furniture, fixtures and equipment
Trucks, automobile and tractors
Miscellaneous
Construction in progress:
52nd and Arden
50th and Wooddale
East Mirror Lake
57th and Chowen
Balance
Balance
January 1,
December 312
1968
Additions
Deductions 1968
$ 90,806.64
$ 902806.64
5,812.03
5,812.03
292,642.74
$332303.36
325,946.10
4,042.32
4,042.32
472730.43
3,876.00
51,606.43
2,458.78
154.00
2,612.78
33,381.29
8,231.00
$4,589.05 37,023.24
6,326.32
395.00
6,721.32
$483,200.55
$452959.36
$42589.05 $5242570.86
131.26
2,324..85
3,785.72
261.36
TOTAL $489,703.74 $45,959.36
131.26
2,324.85
3,785.72
$4,589.05 $531,074.05
-28-
SWIMMING POOL FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1968
ASSETS
Cash (deficit)
Fixed assets - at cost:
Land
Swimming pool and bathhouse
Filter system
Concession furniture and fixtures
Less allowance for depreciation
$3,802.37
3,263.54
LIABILITIES AND SURPLUS
Payables:
Trade accounts
Due to Park Sinking Fund
Surplus:
Invested in fixed assets:
Acquired by bonds
Acquired.by surplus
Donated
Unappropriated (deficit)
($ 14,996.28)
$:10,000.00
184,026.67
17,000.00
538.83 211,565.50
$196,569.22
$ 179.40
6,000.00
$ 6,179.40
$209,431.89
2,083.61
50.00 211,565.50
( 21,175.68)
$196,569.22
SWIMMING :'POOL?. ;FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year Ended December 31, 1968
Invested in Fixed Assets
Deduct:
Net loss for the year 958.45 958.45
Allocation to Sinking Tund
for interest 6,000.00 6,000.00
Balance at December 31, 1968 $190,389.82 $21,175.68*
* Indicates red figure
$50.00 $2,083.61 $209,431.89
-30-
Unappro-
From
From
Total
priated Donated
Surplus
Bond Fund
Balance at January 1, 1968
$190,965.77
$20,979.97* $50.00
$2,463.85
$209,431.89
Additions and transfers:
Interest provided for at
December 31, 1967 included
in operations
6,382.50
6,382.50
Provision for depreciation
-
380.24
380.24*
$197,348.27
$14,217.23* $50.00
$2,083;61
$209,431.89
Deduct:
Net loss for the year 958.45 958.45
Allocation to Sinking Tund
for interest 6,000.00 6,000.00
Balance at December 31, 1968 $190,389.82 $21,175.68*
* Indicates red figure
$50.00 $2,083.61 $209,431.89
-30-
SWIMMING POOL FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1968
Balance (deficit) at January 1, 1968
Additions:
Pool fees
Concession income (see separate schedule) $1,216.76
Add provision for depreciation not
requiring cash 380.24
Other revenue
Deductions:
$46,348.00
1,597.00
1,532.29
Operating expense (see separate schedule) $43,673.00
Less accounts payable at December 31, 1968 179.40
$43,493.60
Payment made on accruals at December 31, 1967 15,549.39
Balance (deficit) at December 31, 1968
($ 5,430.58)
49,477.29
$44,046.71
59,042.99
($14,996.28)
-31-
SWIMMING POOL FUND
STATEMENT OF INCOME AND EXPENSE
Revenues:
Pool fees:
Season tickets
General admissions
Rental - Instruction program
Other
Operating expenses:
Salaries and wages:
Supervision and clerical
Life guards
Cashier
Basket room attendants
Watchmen
Maintenance
Light and power
Water and sewer
Gas
Telephone
Rubbish hauling
Insurance
Repairs and maintenance
Replacement of tank heater
Cleaning supplies
Water treatment
VILLAGE OF EDINA
Year Ended December 31, 1968
$39,635.00
6,713.00 $46,348.00
1,500.00
32.29
$47,880.29
$ 3,724'.00
11,559.00
1,093.00
.3,081.00
1,489.00
3,760.00 $24,706.00
1,687.00
231.00
2)277.00
136.00
.150.00
173.00
2,221.00
6,145.00
645.00
1,711.00
General supplies 605.00
Annual audit 100.00
Printing and office expense 166.00
Central services 2,640.00
Other 80.00 43,673.00
$ 4,207.29
Interest on bonds 6,382.50
($ 2,175.21)
Income from concessions - see separate schedule 1,216.76
NET INCOME (LOSS) FROM OPERATION ($ 958.45)
( ) Indicates red figure.
-32-
SWIMMING POOL FUND
STATEMENT OF INCOME AND EXPENSE (CONCESSIONS ONLY)
VILLAGE OF EDINA
Year Ended December 31, 1968
Operating,expenses:
Salaries and wages:
Manager $ 488.00
Clerk 1,990.00 $2,478.00
Supplies 99.00
Repairs and.maintenance 335.00
Provision for depreciation .380.24 3,292.24
NET INCOME $1,216.76
-33-
Gross
Profit
Cost of
Per Cent
Sales
Sales
Amount
to Sales
Soft drinks
$1,334
$ 832
$ 502.00
37.63%:
Soft ice cream
2,830
1,342
1,488.00
52.58
Popcorn
2,062
692
1,370.00
66.44
Sandwiches
465
172
293.00
63.01
Cakes
2,165
1,512
653.00
30.16
Other
448
245
203.00
45.31
,$9,304
$4,795
$4.509.00
48.46%
Operating,expenses:
Salaries and wages:
Manager $ 488.00
Clerk 1,990.00 $2,478.00
Supplies 99.00
Repairs and.maintenance 335.00
Provision for depreciation .380.24 3,292.24
NET INCOME $1,216.76
-33-
SWIMMING POOL FUND
FIXED,ASSETS
VILLAGE OF EDINA
Year Ended December 31, 1968
ASSETS
Land
Swimming pool and bathhouse
Filter system
Concession furniture and equipment
Balance
Balance
January 1,
December 31,
1968 Additions
1968
$ 10,000.00
$ 10,000.00
184,026.67
184,026.67
17,000.00
17,000.00
3,802.37
3,802.37
$214,829.04 $ -
$214,829.04
ALLOWANCE FOR DEPRECIATION
Concession furniture and equipment $ 2,883.30 $380.24 $. 3,263,.54
NET BALANCE $2112945.74 $211,565.50
-34-
GOLF COURSE FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1968
ASSETS
Cash:
On deposit
Working funds
Investments:
Federal National Mortgage Association - at cost
Federal Intermediate Credit Bank Debenture --
at cost $10,285.24
Accrued interest 22.10
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
Accounts payable
Due of other funds
Loan from'Liquor.'M spensary Fund
Bonds payable
Surplus:
Appropriated - for debt service
Unappropriated (deficit)
$68,990.98
25,910.11
LIABILITIES AND SURPLUS
$ 3,334.08
50.00 $ 3,384.08
$ 50,000.00
10,307.34 60,307.34
1,720.90
4,323.00
168.41
$726,4147.02
182,906.82
15,018.15
9,627.32
43,080.87 977,047.18
$1,046,950.91
$ 958.22
8,750.00
250,000.00
750,000.00
52,300.00
( 15,057.31)
$1,046,950.91
-35-
GOLF COURSE FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year Ended December 31, 1968
Balance (deficit) at January 1, 1968
Add net income for the year
Balance (deficit) at December 31, 1968
Appropriated
for Debt
Service
$52,300.00
$52,300.00
Unappropriated
(_$45,378.87)
30,321.56
($15,057.31)
-36-
GOLF COURSE FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1968
Balance at January 1, 1968
Additions:
Revenue - see separate schedule
Net income - operating department -
see separate schedule
Add depreciation included therein
not requiring,cash
Income on investments
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 prepaid expenses
Increase in-accounts receivable:
Balance at December 31, 1968
Balance at January 1, 1968
Increase in amount due from
other funds
Decrease in liabilities:
Balance at January 1, 1968:
Accounts payable
Due to other funds
Balance at December 31, 1968:
Accounts payable
Due to other funds
$164,598.56
$15,453.00
1,899.00 17,352.00
1,965.00
$ 10,133.34
5,291.10
$25,000.00
25,150.00
94.13 $50,244.13
8,750.00 58,994.13
112,757.00
45'.21
1,720.90
1,400.00 320.90
1,275.00
$ 1,060.29
10,667.08 $11,727.37
$ 958.22
8,750.00 9,708.22 2,019.15
Balance at December 31:, 1968
$ 10,254.35
183,915.56
$194,169.91
190,835.83
$ .3,334.08
-37-
GOLF COURSE FUND
STATEMENT OF INCOME AND EXPENSE
VILLAGE OF EDINA
Year Ended December 31, 1968
Revenue:
Membership fees
Green fees:
Regular course
Short course
Locker rental.
Other
Operating expenses:
Administration:
Salaries and wages:
Manager - pro
Supervision
Rangers and starters
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:
$ 23,331.00
$122,342.00
17,086.00 139,428.00•
1,235.00
604.56
$164,598.56
$ 6,800.00
4,038.00
221577,00
10.697.00
$ 23,692.00
500.00
1,948.00
391.00
734 -. 00
6,900..00
268,00
597.00
$.35,030.00
Salaries and wages
$1,008.00
Utilities:
Telephone
$1,220.00
Water and sewer
127.00
Fuel
914.00
Light and power
772.00
Laundry
13026.00
Rubbish hauling
480.00
$4,539.00
Less amount charged to grill
1,362.00
3,177.00
Insurance
155.00
Repairs - building and equipment
706.00
Supplies
844.00
Other
64.00 5,954.00
-38-
GOLF COURSE FUND
STATEMENT' -OF INCOME AND EXPENSE- (font' d)
Operating expenses (cont'd):
Maintenance of course and grounds:
Salaries and wages:
Superintendent
Maintenance
Equipment rental
Telephone
Light and power
Fuel
Fertilizer and chemical
Sod, black dirt and seed
Blacktop, sand and gravel
Repairs - building
Lumber
Equipment operation
U.S.G.A. visiting service
Repair - sprinkling system
Supplies
Other
$ 9,260.00
30,273.00
$39,533.00
483.00
316.00
3,273.00
341.00
5,991.00
2,079.00
1,654.00
611.00
337.00
12,900.00
240.00
765.00
2,442.00
808.00
$ 71,773:00 $112,757.00
$ 51,841.56
Net income - operating departments - see
separate schedule $ 15,453.00
Income on investments 1,965.00 17,418.00
INCOME BEFORE INTEREST AND DEPRECIATION $ 69,259.56
Interest expense:
On bonds
On loan from Liquor Dispensary Fund
Provision.for depreciation
$ 25,244.00
8,750.00
INCOME BEFORE DEPRECIATION
NET INCOME
33`, 994.00
$ 35,265.56
4,944.00
$:3010321.56
-39-
GOLF COURSE FUND
STATEMENT OF INCOME AND EXPENSE - OPERATING DEPARTMENTS
VILLAGE OF EDINA
Year Ended December 31, 1968
Driving range:
Revenue
Less operating.expenses:
Salaries and wages
Replacement — balls
Supplies
Provision for depreciation
Grill:
Sales:
Food
Beer
Other
Less cost of goods sold:
Food
Beer
Less operating expenses:
Salaries and wages:
Manager
Cooks, waiters and waitresses
Insurance - liability
Dishes, napkins, tools, etc.
Repair work
Cleaning supplies
Expenses - prorated
Provision for depreciation
Other
Village share of.pro -shop profit in .lieu of rents
$21,406.00
$ 7,114:00
3,232.00
745.00
888.00 11,979.00 $ 9,427.00
$26,489.00
10,023.00
409;.00
$36,921.00
$12,902.00
2,980.00 15,882.00
$21,039.00
$ 3,698.00
9,225.00
$12,923.00
178.00
1,051.00
270.00
166.00
1,362.00
1,011.00
252.00 17,213.00
NET INCOME
3,826.00
2,200.00
$15,453.00
-40-
ASSETS
Golf course
Buildings:
Club house
Maintenance building
Range building
Well
Parking lot and roadways
Equipment:
Golf course equipment
Club house equipment
Pro -shop equipment
Range equipment
Concession equipment
ALLOWANCE FOR DEPRECIATION
Golf course equipment
Club house equipment
Pro -shop equipment
Range equipment
Concession equipment
GOLF COURSE FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December 31, 1968
Balance Balance
January 1, December 31,
1968 Additions Deductions 1968
$726,414.02 $ 726,414.02
$174,202.26 $ 174,202.26
6,491.92 6,491.92
2,212.64 2,212.64
$182,906.82 $ - $ - $ 182,906.82
15,018.15 15,018.15
9,627.32 9,627.32
$ 37,653.97 $5,007.60 $895.00 $ 41,766.57
8,100.91 8,100.91
2,446.19 2,446.19
6,160.93 6,160.93
9,696.38 820.00 10,516.38
$ 64,058.38 $5,827.60 $895.00 $ 68,990.98
$998,024.69 $5,827.60 $895.00 $1,002,957.29
$ 10,747.68 $3,971.03 $358.00 $ 14,360.71
1,984.42 728.48 2,712.90
774.58 244.63 1,019.21
2,622.48 887.59 3,510.07
3.296.58 1.010.64 4,307.22
$ 19,425.74 $6,842.37 $358.00 $ 25,910.11
NET BALANCE $978,598.95 $ 977,047.18
-41-
GOLF COURSE FUND
BONDS PAYABLE
VILLAGE OF EDINA
December 31, 1968
Annual.maturity and interest date December 1
and June 1
Interest rate 2.8% to 3.5%
Year
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
409000.00
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
5031000.00
1987
50,000.00'
TOTAL $750,000.00
-42-
RECREATION CENTER FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1968
ASSETS
Cash:
On deposit $ 23,735 -.84
Working fund 800.00 $ 24,535.84
Investments:
Federal National.Mortgage Association - at cost $ 30,000.00
Federal Intermediate Credit Bonds - at cost $15,427-.86
Accrued interest 33.15 15,461.01 45,461.01
Accounts receivable 3,885.50
Due from .other funds 8,933.65
Merchandise inventory - at cost 2,136.98
Prepaid insurance 850.74:
Fixed assets - on the basis of cost:
Land improvements
$ 322185.72
Building ,
.511,693.34
Furniture and equipment $23,533.77
Less allowance for depreciation 6,883.10
16,650.67
560,529.73
$646,333.45
LIABILITIES AND SURPLUS
Accounts payable
$ .7,984.94
Accrued payroll
1,381.65
Accrued interest
4,696.67
Due to Park Construction Fund
$ 550.00
Due to Permanent Improvement Revolving Fund
100,000.00
100,550.00
$114,613.26
Deferred income
9,063.00
Bonds payable
43511000.00
Surplus:
Invested in fixed assets:
Direct
$ 18,379.73
Contributed
7`,150.00
25,529.73
Appropriated - for debt service
36,500.00
Unappropriated
25,627.46
$646,333.45
-43-
RECREATION CENTER FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year Ended December 31, 1968
Balance at January 1, 1968
Additions:
Net income for year
Fixed assets purchased
Transfers:
Payment of bonds
Fixed assets from Park Construction
Disposal of fixed assets
Provision for depreciation
Balance at December 31, 1968
Indicates red figure.
Unappropriated
$15,958.62
23,648.96
842.00*
15,000.00*
550.00*
54.60
2,357.28
$25,627.46
Avuronriated
Contributed
Invested in Invested in For Debt
Fixed Assets Fixed Assets Service Total
$ 3,241.11 $8,308.50 $36,500.00 $48,049.61
842.00
15,000.00
550.00
54.60*
1,253.38* 1,103.90*
$18,379.73 $7,150.00
$36,500.00
842.00
15,000.00
550.00
54.60*
2.357.28*
$62,029.73
-44-
RECREATION CENTER FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1968
Balance -at January 1, 1968
Additions:
Excess of revenue over expenses - see
separate schedule
Add depreciation included therein not
requiring cash
Decrease in working fund
Decrease in accounts receivable
Increase in deferred income
Other
Deductions:
Purchase of investments
Payment of bonds
Increase in merchandise inventory
Increase in prepaid insurance
Addition to fixed assets
Increase in due from other funds
Decrease in liabilities:
Balance at January 1, 1968:
Accounts payable
Accrued payroll
Due to other funds
Balance at December 31, 1968:
Accounts payable
Accrued payroll
Due to other funds
$23,648.96
2,357.28
$9,011.53
1,403.27
1,041.81 $11,456.61
$26,006.24
200.00
1,370.50
1,708.00
159.00
$15,461.01
15,000.00
307.77
118.26
1,392.00
2,234.78
$30,345.94
29,443.74
$59,789.68
$7,984.94
1,381.65
550.00 9,916.59 1,540.02 36,053.84
Balance at December 31, 1968 $23,735.84
-45-
RECREATION CENTER FUND
STATEMENT OF INCOME AND EXPENSE
VILLAGE OF EDINA
Year Ended December 31, 1968
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
Less operating expenses:
Salaries and wages:
Manager
Supervision
Ice guard
Cashier and ticket takers
Clerical
Custodian
Maintenance
Organist
Other expenses:
Light and power
Fuel and heat
Central services
Equipment maintenance
Lumber and paint
Mileage and conference expense
Telephone
Printing
Supplies
Insurance
Audit
Advertising
Rubbish hauling
Other
Income on.investments
Interest on bonds
Provision for depreciation
$ 4,552.00
2,799.00
$ 8,398.00
7,751.00
1,838.00
5,217.00
1,164.00
7,689.00
14,685.00
1,500.00
$ 9,426.00
9,546.00
7,800.00
3,956.00
1,497.00
462.00
858.00
1,235.00
4,947.00
1,110.00
400.00
55.00
450.00
863.00
$16,676.00
7,351.00
$48,242.00
42,605.00
INCOME BEFORE DEPRECIATION
NET INCOME
$ 18,069.00
12,070.00
17,878.00
66,467.00
5,282.00
703.98
9,325.00
$129,794.98
90,847.00
$ 38,947.98
1,199.00
$ 40,146.98
14,140.74
$ 26,006.24
2,357.28
$ 23,648.96
-46-
RECREATION CENTER.FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December 31, 1968
Balance Balance
January 1, December 31,
1968 Additions Deductions 1968
ASSETS
Land $ 32,185.72 $ 32,185.72
Building .511,143:34 $ 550.00 511°,693.34
Furniture and equipment 22,769.77 842.00 $78.00 23,533.77
$566,098.83 $1,392.00 $78.00 $567,412:83
ALLOWANCE FOR DEPRECIATION
Furniture and equipment 4,549.22 $2,357.28 $23.40 $ 6,883.10
NET BALANCE $561,549.61 $560,529.73
-47-
Annual maturity and interest date
Interest rate
Year
1969
1970
1971
197.2
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
RECREATION CENTER FUND
BONDS PAYABLE
VILLAGE OF ED INA
December 31, 1968
3% to
3%
3.3%
Series A
Series B
$ 10,000.00
$ 5,000.00
10,000.00
5,000.00
10,000.00
5,000.00
10,000.00
5,000.00
20,000.00
10,000.00
20,000.00
10,000.00
20,000.00
101000.00
204000.00
101000.00
20,000.00
10,000.00
302000.00
15,000.00
30,000.00
15,000.00
30,000.00
152000.00
302000.00
152000.00
30.000.00
15.000.00
TOTAL $290,000.00 $145,000.00
March 1' and
September l
$ 15,000.00
15,000.00
15,000.00
15,000.00
30,000.00
30,000.00
30,000.00
30,000.00
30,000.00
45,000.00
45,000.00
45,000.00
45,000.00
45,000.00
$435,000.00
-48-
PARK SINKING FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1968
ASSETS
Cash:
Demand deposits $ 17,917.50
Investments:
Edina Park System Bonds - at face value $ 10,000.00
United States Treasury Bills - at face value 25,000.00
Federal Home Loan Bank Note - at cost 412477.00 76,477.00
Receivables:
Due from Swimming Pool Fund $ 6,000.00
Taxes receivable - current and delinquent $ 64,400.22
Taxes receivable - deferred 686,000.00
$750,400.22
Less allowance for delinquent
and uncollectible taxes 38,850.22 711,550.00 717;550.00
$811,944.50
LIABILITIES, RESERVE AND SURPLUS
Amount payable during.1969:
Interest $ 22,135.00
Bonds 40,000.00
$ 62,135.00
Due to.other funds 1,000.00
Bonds payable $610,000.00
Less current portion - shown above 40,000.00 570',000.00
Reserve for future interest $157,630.00
Less current - portion - shown above 22,135.00 135,495.00
Unappropriated surplus 43,314.50
$811,944.50
-49-
PARK SINKING FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year Ended December 31, 19.68
Balance at January 1, 1968
Additions:
Income on investments
Transfers:
Reserve for future interest
Reserve for uncollectible taxes
Deductions:
Allowance for delinquent taxes
Payment to fiscal agents:
Interest
Service charge
Balance at December 31, 1968
$38,715.16
$,1,380.20
$23,485.00
6,865.00 30,350.00 31,730.20
$70,445.36
$.4,281.93
$22,741.50
107.43 22,848.93 27,130.86
$43,314.50
-50-
PARK SINKING FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1968
Balance at January 1,1968
Additions:
Tax settlements received from county:
March 1968 $ 2,678.26
June 1968 25,327.77
November 1968 23,202.04
Sale of investments
Income.on investments
Payment received on amount due from
other funds at December 31, 1967
Deductions:
Purchase of investments
'Payment to fiscal agents:
Principal
$39,000.00
Interest
22,741.50
Service charge
107.43
Balance'at December 312 1968
$:28,272.66
$51,208.07
25,000.00
1,380.20
15,382.50 92,970.77
$121,243.43
$41,477.-00
61,848.93 103,325.93
$ 17,917.50
-51-
PARK SINKING FUND
BOND AND INTEREST MATURITIES AND DEFERRED TAX LEVIES
VILLAGE.OF EDINA
December 31, 1968
Annual maturity and interest date March 1, June 1,
September l.and'.
December 1
Interest rates 2.7% to 3.90%
* Indicates red figure
-52-
Excess of Deferred
Levies over
Bond and Interest
Deferred
Year
Bonds
Interest
Maturities
Levies
1970
$ 40,000.00
$ 20,755.00
$ 9,245.00
$ 70,000.00
1971
40,000.00
19,375.00
10,625.00
70,000.00
1972
50,000.00
17,810.00
3,190.00
71,000.00
1973
50,000.00
16,040.00
5,960.00
72,000.00
1974
50,000.00
14,230.00
7,770.00
72,000.00
1975
50,000.00
12,380.00
10,620.00
73,000.00
1976
40,000.00
10,530.00
12,470.00
63,000.00
1977
50,000.00
8,775.00
5,225.00
64,000.00
1978
50,000.00
6,825.00
8,175.00
65,000.00
1979
502000.00
4,875.00
11,125.00
66,000.00
1980
50,000.00
2,925.00
52,925.00*
1981
50,000.00
975.00
509975.00*
TOTAL $570,000.00
$135,495.00
$19,495.00*
$686,000.00
* Indicates red figure
-52-
PARK CONSTRUCTION FUND
BALANCE SHEET
VILLAGE OF.EDINA
December 31, 1968
ASSETS
Cash:
On deposit
Investments - at face value:
Edina Park System Bonds
United States Treasury.bills
Receivable:
Due from other funds
Fixed assets - at cost:
Land
Construction in progress
LIABILITIES, RESERVE AND SURPLUS
Trade accounts payable
Due to other funds
Contracts payable for purchases of land
Reserve for construction
Surplus invested in fixed assets
$ 15,000.00
40,000.00
$853,848.74
784,698.47
$ 11,298.35
55,000.00
1,550.00
1,638,547.21
$1,706,395.56
$ 1,699.29
46,144.85
61,839.22
35,704.21
1,561,007.99
$1,706,395.56
-53-
PARK CONSTRUCTION FUND
ANALYSIS OF RESERVE FOR CONSTRUCTION
VILLAGE OF EDINA
Year Ended December 31, 1968
Balance at January.l, 1968-
Additions:
Transfer from Liquor Dispensary Fund
Other
Deductions:
Purchase of fixed assets, less amount
transferred to Recreation Fund
Insurance
$ 37,212.92
180,000.00
685.83
$217,898.75
$182,189.11
5.43 182,194.54
Balance at December 31, 1968 $ 35,704..21
-54-
PARK CONSTRUCTION FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31,,1968
Balance at January 1 1968
Additions:
Transfer from-Liquor Dispensary Fund
Payment from Recreation Center Fund
Miscellaneous
Increase-in liabilities:
Balance at December 31, 1968:
Accounts payable
Due to other funds
Contracts payable
Balance at January 1, 1968:
.Accounts payable
Due to other funds
Contracts payable
Deductions:
Purchase of fixed assets
Purchase of investments
Other
$180,000.00
5,031.81
685.83
$ 1,699.29
46,144.85
61,839.22
$109,683.36
$ 18,850.11
$ 1,060.00
1,609.00
77,539.22 80,208.22 29,475.14 215,192.78
$234,042.89
$182,739.11
40,000.00
5.43 222,744.54
Balance at December-31, 1968 $ 11,298.35
-55-
PARK CONSTRUCTION FUND
FIXED. ASSETS
VILLAGE OF EDINA
December 31, 1968
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
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
230,570.37
12,639.48
2,440.00
23,506.60
26,715.00
110250.00
18,300.00
30,330.00
7,369.21
11,620.22
13,072.65
16,594.04
3,466.84
.23,537.13
1,217.55
38,809.53
298,293.54
79,109.49
$ 22,378.91
6,414.59
47,895.13
196,975.39
17,629.22
47,123.53
30,576.10
61,036.94
9,368.19
3,959.00
14,677.46
41,439.64
34,682.54
23,227.65
31,926.91
34,928.79
8,696.96
$ 853,848.74
-56-
PARK CONSTRUCTION FUND
FIXED ASSETS ( Cont'd)
Construction in progress (cont'd):
Garden Park $ 45,518.85
Walnut Ridge Park 9,660.15
Heights Park 25,891.11
Creek Valley School Park 35,616.14
St. John's Park 733:33
Tingdale Park 3,941.111
Birchcrest Park 2,816.49
Bristol Park 4,501.10
Nine Mile Creek Parkway 3,220.92
Sherwood Pump Park 700.51
Mud Lake 1,250.00
Weber Park 17,911.81 $ 784,698.47
TOTAL $1,638,547.21
SUMMARY OF CHANGES IN FIXED ASSETS
Balance at January 1, 1968 $1,456,358.10
Purchase of fixed assets' 1 182,739.11
$1,639,097.21
Deduct:
Transfer to Recreation Center 550.00
Balance at December 31, 1968 $1,638,547.21
-57-
IMPROVEMENT FUNDS
COMBINED BALANCE SHEET
VILLAGE OF EDINA
December 31, 1968
ASSETS
Cash:
Demand deposits
Time deposits
Investments
Receivables:
Special assessments:
Current - certified in 1968 - collectible in 1969
Delinquent
Deferred
Taxes and assessments receivable - Village share
of projects:
Current and delinquent
Deferred.
Less allowance for delinquent taxes
Due from other funds
Due from Construction Fund for advances
Construction in progress:
Current
Deferred
Unallocated construction cost
Prepaid.interest.
Sundry receivables
Due from State Aid Account - State of Minnesota
LIABILITIES, RESERVE AND SURPLUS
Accounts payable
Accrued interest
Due to Hennepin County
Due to other funds
Construction contracts payable
Advance from Improvement Funds
Bonds payable
Construction deposits
Reserve for assessment adjustments
Reserve for construction
Unappropriated - surplus
* Indicates red figure.
-58-
Joint
Permanent
Sanitary
Improvement
Municipal
Sewer
Improvement
Sewer
Southdale
Bond
State -Aid
Total
Eliminations
Construction
No. 1
Revolving
No. 53
Improvement
Redemption
Street Bond
$
18,522.10
$ 29.,664.83*
$2,564.40
$ 6,320.79
$:59,545.69
$ 4,013.49
$
.24,508.62*
$ '251.18
100,000.00
100,000.00
$
118,522.10
$ -
$ :29,664.83*
$2,564.40
$ 6,320.79
$ 59,545.69
$ 4,013.49
$
'75,491.38
-$ 251.18
2,095,832.99
135,000.00
.105,000.00
91,477.00
.1,764,355.99
$-1,607,791.45
$ 3,856.80
$.24,918.68
$
1,579,015.97
2783,770.34
31,299.54
3,743.89
243,726.91
7,649,420.19
1,773.28
79,739.76
7,567,907.15
277.26
I
277.26
263,134.60
51,380.65
211,753.95
$-
9,799,393.84
$ -
$ -
$ -
$:36,929.62
$159,782.98
$ -
$:9,602,681.24
$ -
754,873.97
I
3.1,581.04
11,354.96
711,937.97
$
9,044,519.87
$ -
$ -
$ -.
$ 5,348.58&
$148,428.02
$ -
$
8,890,743.27
$ -
169,656.25
67,021.30
100,000.00
2,634.95
-
2,242,330.77
100,000.00
2,142,330.77
2,281,879.39
2,281,879.39
615,153.82
615,153.82
8 9,115.70
2,719.95
86,395.75
14,607.45
.14,607.45
24,122.59
! 19,795.76
4,326:83
195)000.00
.....
-
_ -.
$195,000.00
$14,648,410.16
$2,242,330.77
$2,956,905.39
$2,564.40
$346,669.37
$312,973171
$95,490.49
$12,980,886.39
$195,251.18
$
2,027.69
$
2,027.69
63,003.75
$ 750.00
62,253.75
10,503.30
$ 74.45
$ 280.50
10,148.35
227,572.30
25,523.73
3,307.46
198,741.11
615,153.82
615,153.82
-
11,350,000.00
$2,242,330.77
! 2,242,330.77
240,000.00
75,000.00
10,840,000.00
$195,000.00
46,144.82
102,106.65
.46,144.82
7,862.91
13,091.60
81,152.14.
273,752.25
2,204,145.58
27,752.25
$2,564.40
335,424.55
72,693.21
6,648.89
1,786,563.35
251.18
$14,648,410.16
$2,242,330.77
$2,956,905.39
$2,_564.40
$346,669.37
$312,973.71
$95,490.49
$12,980,886.39
$195,251.18
-58-
IMPROVEMENT FUNDS
STATEMENT OF SURPLUS - UNAPPROPRIATED
VILLAGE OF EDINA
Year Ended December 31, 1968
Balance at January 1, 1968
Additions:
Interest spread on assessment for collection
in 1969
Income on investments
Capitalized interest
Miscellaneous income
Deductions:
Interest on bonds
Bank service charges
Cost of bond sale
Cancellations and adjustments
Transfers - add - (deduct):
Allowance for delinquent taxes
Total
$1,944,960.79
$ 485,311.39
69,854.38
167,752.35
742.49
$ 723,660.61
$ 374,679.90
2,621.40
3,448.89
12,806.57
$ 393,556.76
$2,275,064.64
Joint
Permanent
Sanitary
( 70,307.10)
Improvement
Municipal
Sewer
Improvement
Sewer
Southdale
Bond
State -Aid
No. 1
Revolving
No. 53
Improvement
Redemption
Street Bonds
$2,564.40
$328,727.86
$82,674.22
$6,276.24
$1,524,466.89
$251.18
$2,564.40
$ 259.90
6,601.48
727.00
$ 7,588.38
$336,316.2
$ 4,983.74
6,373.95
$11,357.69
$ 8,740.00
71.86
12,806.57
$21,618.43
$72,413.48
2,707.29
15.49
$2,722.78
$2,325.00
25.13
$2,350.13
$6,648.89
$ 480,067.75
54,171.66
167,752.35
$ 701,991.76
$ 363,614.90
2,524.41
3,448.89
$ 369,588.20
$1,856,870.45
( 70,919.06) _
( 891.69)
279.73
( 70,307.10)
Balance.at December 31, 1968 $2,204,145.58 $23564.40
$3353424.55
$72,693.21
$6,648.89 $1,786,563.35
$251.18
$251.18
-59-
IMPROVEMENT FUNDS
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1968
Balance at January 1, 1968
Additions:
Remittance from County Auditor:
On special assessments
On taxes receivable
Collections by Village on special assessments
Proceeds from sale of bonds
Sale of investments
Advance from Improvement Funds
Payment received on connection charges
Collection made for another fund
Construction deposits received
Payments received from Municipal State -Aid Street Fund
Deductions:
Construction costs charged to others:
General Fund
Permanent Improvement Revolving Fund
Park Fund
Waterworks Fund
Improvement Bond - Redemption Fund
State of Minnesota Highway Department -
State -Aid Division
Park Construction Fund
Other
Less payments received
Decrease in construction in progress:
Balance at January 1, 1968:
Current construction $3,090,280.32
Deferred construction 530,669.22
Unallocated costs 95,707.36 $3,716,656.90
Balance at December 31, 1968:
Current construction $2,281,879.39
Deferred construction 615,153.82
Unallocated 2.719.95 2.899.753.16
Increase in contracts payable
Balance at January 1,
1968
Balance at December 31,
1968
(Balance Carried Forward)
$ 816,903.74
$ 530,669.22
$ 12,621.42
3,307.46
1,115.25
3,832.32
2,842,435.89
355,088.24
46,144.85
418.471.99
$3,683,017.42
437,218.56
$3,245,798.86
I
Joint
Sewer
Combined Construction No. 1
$ 215,683.86* $ 428,710.15" $2,659.62
$1,412,548.53
10,937.64
510,800.24
2,198,588.90
2,379,180.63
2,400,000.00
22,165.74
198,741.11
1,200.00
353.348.09
$9,487,510.88
615,153.82 84,484.60 901;,388.34 2,344,410.52
$6,927,416.50
$2,400,000.00
Permanent
Sanitary
Improvement
Municipal
Improvement
Sewer
Southdale Bond
State -Aid
Revolving
No.. 5-3
Improvement Redemption
Street Bonds
$ 5,688.81
$ 22,203.17
$ 5,813.70 $ 176,409.81
$ 251.18
$ 7,011.86 $ 26,083.11 $ 15.49 $1,379,438.07
10,937.64
703.09 3,887.07 506,210.08
2,003,588.90 $195,000.00
12,927.73 256,373.95 102,707.29 2,007,171.66
4,454.14 17,711.60
198,741.11
1,200.00
353,348.09
$2,754,548.09 $ - $20,642.68 $286,344.13 $107,176.92 $6,123,799.06 $195,000.00
2,344,410.52
$ 18,572.58* $2,659.62 $26,331.49 $308,547.30 $112,990.62 $6,300,208.87 $195,251.18
IMPROVEMENT FUNDS
ANALYSIS OF CHANGE IN CASH BALANCE (Cont'd)
(Balance Brought Forward)
Deductions (cont'd):
Payment to other funds accrued at December 31, 1967
Investments purchased
Payment to County Auditor for bookkeeping charges
Transfer to Construction Fund
Bonds redeemed
Interest on bonds
Bank service charges
Cost of bond sale
Paid to City of Minneapolis - sewage disposal plant
Refunds and adjustments
Prepaid interest
Return of construction deposits
Proceeds from bond sale - transferred to Municipal
Joint
Sewer
Combined Construction No. 1
$6,927,416.50 $ 18,572.58* $2,659.62
$ 10,322.25
2,437,832.99
1,329.60
2,400,000.00
1,375,000.00
362,381.25
2,621.40
3,448.89
95.22
1,031.21
14,607.45
5,224.14
State -Aid Street Account 195,000.00
$6,808,894.40
Balance at December 31, 1968 $ 118,522.10
* Indicates red figure.
$ 5,868.11
$ 95.22
5,224.14
Permanent
Sanitary
Improvement
Municipal
Improvement
Sewer
Southdale Bond
State -Aid
Revolving
No. 53
Improvement Redemption
Street Bonds
$ 4,013.49
$26,331.49
$308,547.30
$112,990.62 $6,300,208.87
$195,251.18
$20,000.00 $200,000.00
10.70 189.75
40,000.00
8,740.00
71.86
$ 91,477.00
15,000.00
2,475.00
25.13
$ 4,454.14
2,126,355.99
1,129.15
2,400,000.00
1,320,000.00
351,166.25
2,524.41
3,448.89
1,031.21
14,607.45
$ 11,092.25
$ 95.22
$20,010.70
$249,001.61
$108,977.13
$6,224,717.49
$ 29,664.83*
$2,564.40
$ 6,320.79
$ 59,545.69
$ 4,013.49
$
75,491.38
$195,000.00
$195,000.00
$ 251.18
-61-
IMPROVEMENT FUNDS
BONDS PAYABLE
VILLAGE OF EDINA
December 31, 1968
I
Sanitary
Improvement
Municipal
Sewer
Southdale
Bond
State -Aid
Year
Total
No. 53
J
Improvement
Redemption
Street Bonds
Annual maturities and interest date
January 1
March 1 and
March 1, May 1,
Interest on
and July l
September l
June 1,
March 18, and
September 1,
September 18
I
November l and
Principal on
December l
March 18, 1970
3 1/4% and
3%
2% to 4.20%
3.50%
3 1 /10%
1969
$ 1,335,000.00
$15,000.00
$ 1,320,000.00
1970
1,745,000.00
!
! $ 40,000.00
.15,000.00
1,495,000.00
$195,000.00
1971
1,350,000.00
40,000.00
.15,000.00
.1,2951000.00
1972
1,350,000.00
40,000.00
15,000.00
.1,2953000.00
1973
1,350,000.00
40,000.00
15,000.00
1,295,000.00
1974
1,035,000.00
40,000.00
.995,000.00
1975
895,000.00
; 40,000.00
855,000.00
1976
855,000.00
855,000.00
1977
505,000.00
505,000.00
1978
4653,000.00
465,000:.00
1979
4652000.00
465,000.00
TOTAL
$111350,000.00
$240,000.00
,
$75,000.00
$10,840,000.00
$195,000.00
-62-
ASSETS
CURRENT ASSETS
Cash:
Demand deposits
Appropriated funds
Investments - at face value or cost:
Federal Land Banks and Federal Intermediate
Credit Banks
Accrued interest
Less amount segregated and shown below
Accounts receivable:
From customers
Due from other funds
Inventories:
Meters - at cost
Supplies - estimated
Prepaid insurance
OTHER ASSETS
Segregated investments - reserve for debt
retirement
FIXED ASSETS - Note A
Land
Land improvements
Distribution system
Buildings and equipment
Less allowance for depreciation
$ 289,367.30
243.10
$ 289,610.40
67,672.00
$ 60,869.59
13,935.47
$ 15,839.07
. 1,750.00
TOTAL CURRENT ASSETS
$ 14,178.52
5,271,649.61
1.887.291.95
$7,173,129.08
1,512,504.46
$ 27,556.38
WATERWORKS
BALANCE
VILLAGE
December
$ 24,616.86
26,574.25
$ 51,191.11
221,938.40
74,805.06
17,589.07
526.00
$ 366,049.64
67,672.00
5,660,615.62 5,688,172.00
$6,121,893.64
FUND
SHEET
OF EDINA
31, -1968
LIABILITIES AND SURPLUS
CURRENT LIABILITIES
Accounts payable and accrued expenses:
Trade accounts
Salaries and wages
Refunds payable
Interest
Due to other funds
Current maturities of bonds payable
LONG -TERM DEBT
Bonds payable - Note B
Less current maturities - shown above
SURPLUS
Invested in fixed_ assets:
Direct
Revaluation of fixed assets - Note A
Contributed by special assessments -
Note A
Contributed by General Fund
Appropriated - for debt service
Unappropriated
See notes to balance sheet.
TOTAL CURRENT LIABILITIES
$ 844,312.46
25,285.58
4,183,622.63
11,951.33
$ 623,000.00
48,000.00
$5,065,172.00
94,246.25
315,525.69
$ 14,653.66
770.82
948.06
3,744.84
3,832.32
$ 23,949.70
48,000.00
$ 71,949.70
575,000.00
5,474,943.94
$6,121,893.64
-63-
WATERWORKS FUND
NOTES TO BALANCE SHEET
VILLAGE OF EDINA
December 31, 1968
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:
$50,000.00 $203,000.00 $370,000.00 $623,000.00
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 1 and
March 1 and
June land
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:
1969
$30,000.00
$ 8,000.00
$ 10,000.00
$ 48,000.00
1970
20,000.00
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
601000.00
1976
50,000.00
50,000.00
1977
50,000.00
50,000.00
1978
50,000.00
5010000.00
1979
50,000.00
50,000.00
1980
50,000.00
50,000.00
$50,000.00 $203,000.00 $370,000.00 $623,000.00
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
VILLAGE OF EDINA
Year Ended December 31, 1968
Total
Earned Surplus
Unappropriated Appropriated
Invested Contributed Contributed
In Fixed by by
Assets Assessments General Fund Revaluation
5 67 56
Balance at January 1, 1968
$4,590,916.83
$272,226.63
$95,803.75
X745,360.75
$3,439,873.20
$11,684.94
$2 ,9
Additions:
Watermains contributed by special
assessments
834,941.15
834,941.15
Net income for year
48,425.96
48,425.96
Assets contributed by General Fund
660.00
660.00
$5,474,943.94
$320,652.59
$95,803.75
$745,360.75
$43,274,814.35
$12,344.94
$25,967.56
Transfers:
Provision for depreciation
-
170,154.58
77,887.27*
91,191.72*
393.61*
681.98*
Bonds retired
-
48,000.00*
48,000.00
Additions to fixed assets
-
128,838.98*
128,838.98
Decrease in appropriation of funds
for reserve for debt retirement
-
1,557.50.
1,557.50*
'
Balance at December 31, 1968
$5,474,943.94
$315,525.69
$946.25
$844,312.46
$4,183,622.63
$11,951.33
$25,28558
* Indicates red figure.
-65-
WATERWORKS FUND
STATEMENT OF INCOME AND EXPENSE
VILLAGE OF EDINA
Per Cent to
Year Ended December 31 Increase Gross Income
1968 1967 Decrease* 1968 1967
Number of meters in use:
At end of year 8,698 8,336 362
At beginning of year 8,336 7,797 539
Income:
Sale of meters
$ 36,211.00
$ 34,337.00
$
1,874.00
Less.cost of meters sold
27,605.00
28,439.00
834.00*
GROSS PROFIT ON METERS
$ 8,606.00
$ 5,898.00
$
2,708.00
Water sales
375,992.00
373,678.00
2,314.00
Penalties
7,000.00
6,494.00
506.00
Water connection permits
2,660.00
2,840..00
180.00*
Tapping fees
219.00
194.00
25.00
Use of hydrants
13,935.00
13,076.00
859.00
Miscellaneous
1,035.96
1,128.35
92.39*
$409,447.96
$403,308.35
$
6,139.61
100.00% 100.00%
Expenses:
Pumping:
Labor
$ 7,893.00
$ 6,625.00
$
1,268.00
Power and light
39,050.00
43,372.00
4,322.00*
Supplies and repairs
12,547.00
9,921.00
2,626.00
Buildings:
Labor
1,505.00
1,515.00
10.00*
Fuel
2,124.00
2,098.00
26.00
Supplies
423.00
310.00
113.00
Telephone
-
187.00
187.00*
Repairs
328.00
984.00
656.00*
Insurance
567.00
491.00
76.00
Water purchased
17,681.00
18,395.00
714.00*
Provision for depreciation
29,679.00
21,973.00
7,706.00
$111,797.00
$105,871.00
$
5,926.00
27.30% 26.25%
Distribution:
Labor
$ 8,864.00
$ 8,865.00
$
1.00*
Materials and supplies
5,356.00
1,832.00
3,524.00
Operation of meters:
Labor
7,602.00
7,511.00
91.00
Supplies and.expenses
1,024.00
932.00
92.00
Provision for depreciation
97,075.00
87,321.00
9,754.00
Repairs
7,338.00
9,184.00
1,846.00*
$127,259.00
$115,645.00
$11,614.00
31.08 28.68:
Tanks, towers and reservoir:
Labor
$ 1,155.00
$ 437.00
$
718.00
Power and lease lines
1,314.00
1,696.00
382.00*
Supplies and expenses
825.00
5.00
820.00
Provision for depreciation
22,674.00
22,678.00
4.00*
Insurance
485.00
485.00
-
$ 26,453.00
$ 25,301.00
$
1,152.00
6.46 6.27
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, hospitali-
zation, etc.
Supervision
Provision for depreciation
Professional services
Supplies and expenses
Building rental
TOTAL EXPENSES
OPERATING INCOME
Income on investments
Other deductions:
Interest on bonds
Fiscal agent service charge
NET INCOME
Depreciation,computed by the
straight line method,
charged to operations
included in expenses
Year Ended December 31
1968
$ 3,521.00
11,847.00
18,616.00
$ 33,984.00
$ 6,600.00
1,441.00
$ 8,041.00
$ 10,455.00
3,922.00
9,021.00
142.00
10,020.00
3,000.00
670.00
3,800.00
693.00
720.00
$ 42,443.00
$349,977.00
$ 59,470.96
9,875.00
$ 69,345.96
1967
$ 4,207.00
11,584.00
18,616.00
$ 34,407.00
$ 5,676.00
1,544.00
$ 7,220.00
$ 10,088.00
5,497.00
9,354.00
158.00
5,700.00
3,000.00
673.00
1,902.00
829.00
^^
$326,269.00
$ 77,039.35
4,644.00
$ 81,683.35
Increase
Decrease*
$ 686.00*
263.00
$ 423.00*
$ 924.00
103.00*
$ 821.00
$ 367.00
1,575.00*
333.00*
16.00*
4,320.00
3.00*
1,898.00
136.00*
96.00
$ 4,618.00 .
$23,708.00
$17,568.39*
5,231.00
$12,337.39*
Per Cent to
Gross Income
1968 1967
8.30 8.53
1.96
10.37
85.47%
14.5A
2.41
16.94%
$ 20,811.00 $ 21,921.00 $ 1,110.00*
109.00 121.00 12.00*
$ 20,920.00 $ 22,042.00 $ 1,122600* 5.11
$ 48,425.96 $ 59,641.35 $11,215.39* 11.83%
$170,155.00 $1523,805.00 $17,350.00
1.79
9.38
80.90%
19.10%
1.15
20.25%
5.46
14.79%
-67-
WATERWORKS FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1968
Balance at January 1, 1968
Additions:
Collections.on accounts receivable
Collection on amount due from other funds
Sale of water meters
Sale of investments
Sundry sales and services
Income on- investments
$390,881.03
13,075.80
36,211.00
100,620.20
2,879.00
9,875.00
$ 22,032.65
553,542.03
$575,574.68
Deductions:
Payment to fiscal agents:
Principal
$ 48,000.00
Interest
21,175.00
Service charge
109.00
$ 69,284.00
Meters purchased
16,748.77
Additions to fixed assets
$964,440.13
Less.amount contributed
835,601.15
128,838.98
Purchase of investments
113,380.78
Operating expenses
$349,977.00
Less provision for depreciation
170,155.00
179,822.00
Payment of sales tax
10,703.00
Decrease in amounts payable:
Balance -at January 1, 1968:
Trade accounts
$ 24,107.67
Accrued payroll
755.17
$ 24,862.84
Balance at December 31, 1968:
Trade accounts
$14,653.66
Accrued payroll.
770.82
Due to other funds
3,832.32 19,256.80
5,606.04 524,383.57
Balance at December 31, 1968 $ 51,191.11
Summary:
Sinking Fund $ 26,574.25
Operating Fund 24,616.86
$ 51,191.11
0
Allowance for Depreciation
Balance Balance
January 1, December 31,
1968 Additions Deductions- 1968
4,366.48 $ 555.80 4,922.28
$ 106,853.10 $ 5,555.38 $ 112,408.48
702,684.89 91,191.72 793,876.61.
4,695.72 327.61 5,023.33
$ 814,233.71 $ 97,074.71 911,308.42
$ 63,380.66
$ 9,884.07
83,957.20
14,483.19
62,289.00
4,755.60
221,755.53
WATERWORKS FUND
2,902.04
137.79
6,806.52
1,063.10
74,268.15
FIXED ASSETS
5,035.88
910.25
5,432.81
.1,146.37
VILLAGE OF EDINA
Year
Ended December 31,
1968
A s s e t
I
s
Balance
Balance
January 1,
December 31,
1968
Additions
Deductions `
Transfers. 1968
Land
$ 27,556.38
$ 27,556.38
Land improvements
13,583.74
$ 594.78
14,178.52
Distribution systems:
Purchased
$ 277,769.71
$ 277,769.71
Contributed by special assessments
4,142,558.09
$834,941.15
4,977,499.24
Contributed by General Fund
16,380.66
16 380.66
$4,436,708.46
$834,941.15
$ -
- 5,271,649.61
Buildings and equipment:
Pumphouses
$ 247,102.12
$ 247,102.12
Wells
278,031.14
$168,086.80 446,117.94
Pumps and piping
114,551.28
114,551.28
Tanks, towers and reservoir
566,867.16
566,867.16
Office equipment
3,453.05
3,453.05
Miscellaneous equipment
11,918.74
11,918.74
Water treatment equipment
432,540.66
432,540.66
Automobiles and trucks
8,490.41
$ 660.00(A)$2,078.10
7,072.31
,Storm sewer
57,318.69
57,318.69
Tools
350.00
350.00
$1,720,623.25
$ 660.00
$2,078:10
$168,086.80 $1,887,291.95
Construction in progress
39,842.60
128,244.20
168,086.80 -
TOTAL
$6,238,314.43
$964,440.13
$2,078.10
$ - $7,200,676.46
(A) Contributed by General Fund
Allowance for Depreciation
Balance Balance
January 1, December 31,
1968 Additions Deductions- 1968
4,366.48 $ 555.80 4,922.28
$ 106,853.10 $ 5,555.38 $ 112,408.48
702,684.89 91,191.72 793,876.61.
4,695.72 327.61 5,023.33
$ 814,233.71 $ 97,074.71 911,308.42
$ 63,380.66
$ 9,884.07
83,957.20
14,483.19
62,289.00
4,755.60
221,755.53
22,674.06
2,902.04
137.79
6,806.52
1,063.10
74,268.15
17,469.64
5,035.88
910.25
5,432.81
.1,146.37
$ 525,827.79 $ 72,524.07
$1,344,427.98 $170,154.58
$ 73,264.73
98,440.39
67,044.60
244,429.59
3,039.83
7,869.62
91,737.79
$2,078.10 3,868.03.
6,579.18
$2,078.10 $ 596,273.76
$2,078.10 $1,512,504.46
-69-
SEWER RENTAL FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1968
ASSETS
Current assets:
Cash - demand deposits
Investments - at cost:
Federal Intermediate Credit Bank Debentures
Accrued interest
Federal National Mortgage Association
Certificates
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
Current liabilities:
Trade accounts payable
Accrued payroll
Surplus:
Invested in fixed assets
Unappropriated (deficit)
$41,140.97
88.40 $41,229.37
LIABILITIES AND SURPLUS
$ 172,437.82
20,000.00 61,229.37
$25,872.27
301.84
TOTAL.CURRENT ASSETS
$ 4,430.25
2,161.69
6,374.00
26,471.90
$39,437.84
26,517.80
TOTAL CURRENT LIABILITIES
26,174.11
12,920.04
$117,785.34
$149,791.48
753.48
$150,544.96
12,920.04
( 45,679.66)
$117,785.34
-70-
SEWER RENTAL FUND
STATEMENT OF SURPLUS (DEFICIT)
VILLAGE OF EDINA
Year Ended December 31, 1968
Surplus
Unappropriated Invested
Surplus in Fixed
(Deficit) Assets
Balance (deficit) at January 1, 1968 ($29,026.05) $11,812.83
Deduction:
Net loss for year 15,546.40
($44,572.45). $11,812.83
Transfers:
Additions-to -fixed assets $ 3,593.06* $ 3,593.06
Provision for depreciation 2,485.85 2,485.85*
$ 1,107.21* $ 1,107.21
Balance (deficit) at December 31, 1968 ($45,679.66) $12,920.04
* Indicates red figure.
-71-
SEWER RENTAL FUND
STATEMENT OF INCOME AND EXPENSE
VILLAGE OF EDINA
ti
Per Cent to
Operating Income
1968 1967
100.0% 100.0%
97.9% 92.4%
3.9 3.3
11.5 9.6
113.7/. 105.3%
13.3% 5.3%
2.2 2.9
11.1% 2.4%
-72-
Year Ended
December 31
Increase
1968
1967
Decrease*
Operating income:
Service charges and penalties
$140,010.00
$133,515.00
$ 6,495.00
Expenses:
Operating:
Sewer maintenance and
treatment
$ 77,159.00
$ 75,116.00
$ 2,043.00
Labor
36,145.00
30,169.00
5,976.00
Supplies
2,857.00
2,845.00
12.00
Repairs
12,656.00
7,443.00
5,213.00
Water
200.00
200.00
-
Power
63156.00
5,371.00
785.00
Provision for depreciation
1,405.00
1,630.12
225.12*
Other
506.00
543.88
37.88*
$137,084.00
$123,318.00
$13,766.00
Vehicle operation:
Allocated from equipment
pool
$ 4,500.00
$ 3,876.00
$ 624.00
Provision for depreciation
941.00
605.00
336.00
$ 5,441.00,
$ 4,481.00,
$ 960.00.
Administrative and general:
Clerical and supervision
$ 4,929.00
$ 5,923.00
$ 994.00*
Auditing
475.00
350.00
125.00
Supplies, telephone, postage
and retirement
7,566.00
5,169.00
2,397.00
Building rental
576.00
492.00
84.00
Provision for depreciation
140.00
156.00
16.00*
Professional services
2,486.00
702.00
1,784.00
$ 16,172.00
$ 12,792.00
$ 3,380.00
TOTAL EXPENSES
$158,697.00
$140,591.00
$18,106.00
OPERATING LOSS
$ 18,687:00.,
$ 7,076.00
$11,611.00
Other income:
Income on investments
$ 11472.00
$ 2,199.00
$ 727.00*
Miscellaneous
1,668.60
1,661.05
7.55
$ 3,140.60
$ 3,860.05
$ 719.45*
NET LOSS
$ 15,546.40
$ 3,215.95
$12,330.45
Depreciation charges to opera -.
tions included in expenses
$ 2,486.00
$ 2,391.12
$ 94.88
ti
Per Cent to
Operating Income
1968 1967
100.0% 100.0%
97.9% 92.4%
3.9 3.3
11.5 9.6
113.7/. 105.3%
13.3% 5.3%
2.2 2.9
11.1% 2.4%
-72-
SEWER RENTAL FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1968
Balance at January 1, 1968
Additions:
Collections on accounts receivable
Sale of investments
Tax settlements received
Income on investments
Increase in liabilities:
Balance at December 31, 1968:
Trade accounts
Accrued payroll
Balance at January 1, 1968:
Trade accounts
Accrued payroll
Other
Deductions:
Expenses for.the year
Less provision for depreciation
not requiring cash .
Investments purchased
Purchase of fixed assets
Other
$149,791.48
753.48
$150,544.96
$130,039.10
482.68 130,521.78
$158,697.00
2,485.85
$ 5,971.31
$138,772.75
50,292.70
312.04
1,472.00
20,023.18
1,668..91 212,541.58
$218,512.89
$156,211.15
41,229.37
3,593.06
41.49 201,075.07
Balance at December 31, 1968 $ 17,437.82
-73-
ASSETS
Land improvements
Furniture and fixtures
Trucks
Equipment
ALLOWANCE FOR DEPRECIATION
Land improvements
Furniture and fixtures
Trucks
Equipment
SEWER RENTAL FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December 31, 1968
Balance
Balance
January 1,
December 31,
1968
Additions
Deductions
1968
$ 4,184.19
$ 246.06
$ 4,430.25
2,161.69
2,161.69
4,599.03
3,347.00
$1,572.03
6,374.00
26,471.90
26,471.90
$37,416.81
$3,593.06
$1,572.03
$39,437.84
$ 1,227.69
$ 172.28
$ 1,399.97
1,608.01
139.57
1,747.58
3,000.13
941.10
$1,572.03
•2,369.20
19,768.15
1,232.90
21,001.05
$25,603.98
$2,485.85
$1,572.03
$26,517.80
NET BALANCE $11,812.83
$12,920.04
-74-
LIQUOR DISPENSARY FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1968
ASSETS
CURRENT ASSETS
Cash:
Demand deposit
Deposit in transit
Working funds
Investments -'.at cost:
Village of Edina - Waterworks Revenue
Bonds of 1959
Accrued interest
United States Treasury notes - at cost
Federal Intermediate Credit Bank
Debentures - 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
$ 24,125.78
23,305.44 $ 479431.22
3,000 .-00 $ 50,431.22
$ 26,903.49
311.67 $ 27,215.16
50,924.58
$123,422.92
265.20 123,688.12 201,827.86
8,750.00
$232,287.23
37,801.74
11,550.66
2,576.27 284,215.90
$ 3,306.04
400.00 3,706.04
TOTAL CURRENT ASSETS $548,931.02
$ 3,412.66
75,331.92
48,373.74
28.172.74
$155,291.06
$ 16,500.00
250,000.00
Less allowance for depreciation and
amortization 110,
622.46 44,668.60 61,168.60
$860,099.62
LIABILITIES AND SURPLUS
CURRENT LIABILITIES
Trade accounts payable $ 35,958.22
Salaries and wages .3,579.76
TOTAL CURRENT LIABILITIES $ 39,537.98
SURPLUS
Invested in fixed assets $ 61,168.60
Unappropriated 759,393.04 820,561.64
$860,099.62
-75-
LIQUOR DISPENSARY FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year Ended December 31, 1968
Balance at January 1, 1968
Additions:
Net income for year
Deductions:
Transfer to General Fund
Transfer to Park Fund
Transfer to Park Construction Fund
Transfers:
Provision for depreciation
Additions to fixed assets .
Balance at December 31, 1968
*,Indicates red figure.
Invested
in Fixed
Total Available Assets
$ 810,434.30 $ 742,452.83 $67,981.47
335,127.34 335,127.34
$1,1452561.64 $1,077,580.17 $67,981.47
$ 51,394.00 $ 51,394.00
93,606.00 93,606.00
180,000.00 180,000.00
$ 325,000.00 $ 325,000.00 $
$ 820,161.64 $ 752,580.17 $67,981.47
- 7•062.87 7,762.87*
- 950.00* 950.00
$ 820,561.64 $ 759,393.04 $61,168.60
-76-
LIQUOR DISPENSARY FUND
STATEMENT OF INCOME AND EXPENSE
VILLAGE OF EDINA
Sales:
Liquor
Wine
Beer
Mix and miscellaneous
Less bottle refunds
NET SALES
Cost of sales:
Inventory at January 1st
Purchases
Inventory at December 31st
GROSS MARGIN
Operating expenses:
Selling
Occupancy
Administrative
TOTAL OPERATING EXPENSES
OPERATING INCOME
Other income:
Cash discount
Cash over or (under)
Other
Income on investments
Depreciation and amortization included
in expenses
50th Street
$607,185.00
105,564.00
143,672.00
18,811.00
$875,232.00
5,098.00
$870,134.00
$106,090.41
650,379.48
$7569469.89
105,810.89
$650,659.00
$219,475.00
$ 34,182.00
13,792.00
16,885.00
$ 64,859.00
$154,616.00
3,480.00
73.00
908.34
$159,077.34
Year
Ended December]
31
1 9
6 8
I
Southdale
Grandview
Total
$412,668.00
$352,748.00
$1,3723,601.00
79,481.00
63,755.00
248,800.00
64,750.00
82,658.00
291,080.00
9,948.00
17,216.00
45,975.00
$566,847.00
$516,377.00
$1,958,456.00
1,386.00
2,144.00
8,628.00
$565,461.00
$51410233.00
$1,949,828.00
$ 92,508.42
$ 93,040.08
$ 291,638.91
413,605.08
381,701.43
1,445,685.99
$506,113.50
$474,741.51
$1,737,324.90
85,770.50
92,634:51
284,215.90
$420,343.00
$382,107.00 I
f
$1,453,109.00
$145,118.00
$132,126.00
$ 496,719.00
$ 24,542.00
$ 24,657.00 !
$ 83,381.00
18,150.00
19,031.00
50,973.00
16,826.00
15,846.0.0
49,557.00
$ 59,518.00
$ 59,534.00
$ 183,911.00
$ 85,600.00
$ 72,592.00
$ 312,808.00
2,277.00 1,957.00
89.00) 100._00
$ 87,788.00 $ 74,649.00
NET INCOME
$ 5,323.00 ($ 803.00) $ 3,243'.00
7,714.00
84.00
908.34
$ 321,514.34
13,613.00
$ 3353,127.34
1967
Total
$1,281;908.00
228,731.00
275,933.00
36.451.00
$1,823,023.00
7,446.00.
$1,8151577.00
$ 277,455.99
1,368,707.92
$1,646,163.91
291,638.91
^mil 354,525.00
$ 461,052.00
$ 76,453.00
52,415.00
43,394.00
$ 172,262.00
$ 288,790.00
7,419.00
.96.00
822.40
$ 297,127.40
13,700.00
$ 310,827.40
Increase
Decrease*
$ 90,693.00
20,069.00
15,147.00
9,524.00
$135,433.00
1,182.00
$134,251.00
$ 14,182.92
76,978.07
$ 91,160:99
7,423.01
$ 98,584.00
$ 35,667.00
$ 6,928.00
1,442.00*
6,163.00
$ 11,649.00
$ 24,018.00
295.00
12.00*
85.94
$ 24,386.94
87.00*
$ 2431299.94
$. 7,763.00 $ 10,882.00 $ 3,119.00*
Per Cent to Net Sales
1 9 6 8 1967
50th Street Southdale Grandview Total Total
100.00% 100.00% 100.00' /0 100.00'/0 100.00%
74.78
74.34
74.31
74.53
74.61
25.22%
25.66%
25.69%
25.47%
25.39%
3.930/.
4.34%
4.79%
4.2870
4.21%
1.58
3.21
3.70
2.61
2.89
1.94
2.98
3.08
2.54
.2.39
7.45%
10.53%
11.57%
9.430/.
9.49%
17.77%
15.13%
14.12%
16.04%
15.907%
.40
.40
.38
.40
.41
.01
.02
.01
.10
.05
.05
18.287,
15.53%
14.52%
16.49%
16.37%
-77-
Selling:
Salaries and wages
Suppl ie,s
Licenses and dues
Pro rata promotion
Service contracts
customer survey
Occupancy:
Salaries and wages
Rent
Telephone
Supplies
Light and power
LIQUOR DISPENSARY FUND
OPERATING EXPENSES
VILLAGE OF EDINA
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
Plumbing (includes sewer hookup)
Administrative:
Salaries and wages
Supplies
Professional services
Allocated expenses - retirement,
insurance, office supplies, etc.
Miscellaneous
TOTAL
( ) Indicates red figure..
634.00
48.00
101.00
783.00
Year.Ended
December 31
553.00
121.00
8.00
101.00
230.00
353.00
370.00
1 9
6 8
367.00
792.00
1 9
6 7
3.00
69.00*
Increase- Decrease*
325.00
392.00
50th Street
Southdale
Grandview
442.00
Total
50th Street
Southdale
Grandview
Total
50th .Street
Southdale
Grandview
318.00
Total
$32,648.00
$23,102.00
$23,678.00
$
79,428.00
$29,727.00
$21,327.00
$21,047.00
$ 72,101.00
$2,921.00
$1,775.00
$2,631.00.
$
7,327.00
1,397.00
11102.00
838.00
95.00*
3,337.00
1,368.00
1,123.00
773.00
3,264.00
29.00
21.00*
65.00
876.00
73.00
40.00
35.00
35.00
262.00
110.00
43.00
23.00
23.00
89.00'
3.00*
12.00
12.00
100.00
21.00
224.00
191.00
( 803.00)
3,243.00
191.00
51491.00
182.00
32243.00
182.00
168.00*
9.00
3,119.00*
9.00
97.00
112.00
106.00
420.00
315.00
97.00
122.00
98.00
317.00
10.00*
.8.00
2.00*
760.00
690.00
230.00
-
35.00*
500.00
125.00*
500.00
57.00
500.00*
12.00
88.00
500.00*
$344182.00
$24,542.00
$24,657.00
$
83,3811.00
$31,235.00
$23,277.00
$21,941.00
$ 76,453.00;
$2,947.00
$1,265.00
$2,716.00
$
6,928.00
$ 132.00
$ 67.00
$
199.00
$ 115.00
$18,150.00
$19,031.00
$ 115.00
$ 17.00
$ 67.00
$19,949.00
$
84.00
$1,976.00*
15,681.00
$10,600.00
$11,186.00
26,281.00
$10,890.00
$14,592.00
$10,651.00
25,243.00:
$10,495.00
1,089.00
$ 51.00*
$ 398.00
1,038.00
336.00
278.00
252.00
124.00
866.00
336.00
278.00
253.00
867.00
225.00*
223.00*
1.00*
676.00*
1.00*
189.00
59.00
118.00
832.00
366.00
135.00
80.00
98.00
313.00
54.00
21.00*
20.00
431260.00
53.00
1,607.00
1,002.00
1,382.00
2,040.00
3,991.00
1,671.00
1,020.00
1,429.00
4,120.00
64.00*
18.00*
47.00*
415400
129.00*
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
Plumbing (includes sewer hookup)
Administrative:
Salaries and wages
Supplies
Professional services
Allocated expenses - retirement,
insurance, office supplies, etc.
Miscellaneous
TOTAL
( ) Indicates red figure..
634.00
48.00
101.00
783.00
513.00
40.00
553.00
121.00
8.00
101.00
230.00
353.00
370.00
723.00
425.00
367.00
792.00
72.00*
3.00
69.00*
394.00
325.00
392.00
1,111.00
503.00
404.00
442.00
1,349.00
109.00*
79.00*
50.00*
238.00*
187.00
131.00
318.00
164.00
96.00
260.00
23.00
35.00
58.00
1,668.00
1,100.00
1,626.00
4,394.00
1,806.00
119281:.00
1,721.00
42808.00
138.00*
181.00*
95.00*
414.00*
323.00
323.00
876.00
876.00
553.00*
553.00*
262.00
134.00
76.00
472.00
34.00
214.00
248.00
262.00
100.00
-138.00*
224.00
5,323.00
( 803.00)
3,243.00
7,763.00
51491.00
2,148.00
32243.00
102882.00
168.00*
2,951.00*
3,119.00*
420.00
240.00
300.00
960.00
420.00
240.00
300.00
960.00
-
655.00
105.00
760.00
690.00
230.00
920.00
35.00*
125.00*
160.00*
57.00
19.00
12.00
88.00
71.00
9.00
29.00
109.00
14.00*
10.00
17.00*
21.00*
1,575.00
1,575.00
-
1,575.00
1,575.00
$13,792.00
$18,150.00
$19,031.00
$ 50,973.00
$12,340.00
$20,126.00
$19,949.00
$ 52,415.00
$1,452.00
$1,976.00*
$ 918.00*
$ 1,442.00*
$11,186.00
$11,318.00
$10,890.00
$ 33,394.00
$102789.00
$10,920.00
$10,495.00
$ 32,204.00
$ 397.00
$ 398.00
$ 395.00
$ 1,190.00
124.00
124.00
124.00
372.00
.349.00
347.00
352.00
12048.00,
225.00*
223.00*
228.00*
676.00*
882.00
782.00.
632.00
2,296.00
832.00
732.00
571.00
2,135.00
50.00
50.00
61.00
161.00
4,620.00
431260.00
4,200.00
13,080.00
2,940.00
2,340.00
2,040.00
7,320.00
1,680.00
1,920.00
2,160.00
.5,760.00
73.00
342.00
415400
133.00
505.00
49.00
687.00
60.00*
163.00*
49.00*
272.00*
$16,885.00
$16,826.00
$15,846.00
$ 49,557.00
$15,043.00
$14,844.00
$13,507.00
$ 43,394.00
$1,842.00
$1,982.00
$2,339.00
$ 6,163.00
$641859.00
$59,518.00
$59,534.00
$183,911.00
$58,618.00
$582247.00
$55,397.00
$172,262.00
$62241.00
$12271.00
$410137.00
$11,649.00
-78-
LIQUOR DISPENSARY FUND
ANALYSIS OF CHANGE'IN..CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31,, 1968
Balance at January 1, 1968
Additions:
Gross sales
Cash discounts
Investments sold
Interest received on investments
Payment received on accruals at December 31, 1967
Other revenue
Increase in liabilities:
Balance at December 31, 1968:
Trade accounts $35,958.22
Accrued payroll 3,579.76
$ 39,537.98
Balance at January 1, 1968:
Trade accounts
Accrued payroll
Deductions:
Merchandise purchased
Bottle refunds
Operating expenses
Less depreciation included therein
not requiring cash
Transfers:
General Fund
Park Fund
Park Construction Fund
Investments purchased
Additions to fixed assets
Increase in prepaid insurance
$ 71,710.73
$1,958,456.00.
7,714.00
75,000.00
4,842.00
6,615.88
992.36
$32,880.33
3,190.30 36,070.63 3,467.35 2,057,087.59
$2,128,798.32
$183,911.00
7,762.87
$ 51,394.00
93,606.00
180,000.00
$1,445,685.99
8,628.00
176,148.13
325,000.00
123,688.12
950.00
1,266.86
Balance at December 31, 1968
2,081,36.7.10
$ 47;431.22
-79-
LIQUOR DISPENSARY FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December-;31, 1968
ASSETS
Land
Land improvements
Building
Furniture, fixtures and equipment
Leasehold improvements
ALLOWANCE FOR DEPRECIATION
AND AMORTIZATION
Land improvements
Building
Furniture, fixtures and equipment
Leasehold improvements
Balance
Balance
January 1,
December 31,
1968
Additions
1968
$ 16,500.00
$ 163,500.00
3,412.66
3,412.66
75,331.92
75,331.92
47,423.74
$ 950.00
48,373.74
28,172.74
28,172.74
$170,841.06
$ 950.00
$171,791.06
$ 1,562.76
$ 139.93
$ 1,702.69
48,468.69
3,900.73
52,369.42
29,531.28
3,568.05
33,099.33
23.296.86
154.16
23,451.02
$102,859.59 $7,762.87 $110,622.46
NET BALANCE -$ 67,981.47 $ 61,168.60
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, 1968
Demand and
Time Working
Deposits Funds
$166,977.82
2,274.55
27,272.19
14,996.28*
3;334.08
23,735.84
17,917.50
11,298.35
$ 85,183.18
63,003.75
29,664.83*
$118,522.10
$ 24,616.86
26,574.25
$ 51,191.11
17,437.82
47,431.22
TOTAL $472,396.30
$ 550.00
F1 0H
:11 NI
3,000.00.
$4,400.00
$167,527.82
2,274.55
27,272.19
14,996.28*
3,384.08
24,535.84
17,917.50
11,298.35
118,522.10
51,191.11
17,437.82
50,431.22
$476,796.30
$268,079.48
64,496.02
4,820.80
$337,396.30
$ 35,000.00
100,000.00
$135;000.00
4,400.00
$476,796.30
-81-
SECURITY FOR DEPOSITS
VILLAGE OF EDINA
December 31, 1968
i
Security for Deposits
Deposits
Principal
Book
Bank
Amount
Description
Due Date
First Edina National Bank - demand deposit
$268,079.48
$293,831.87
$370,000.00
United States Treasury bonds
November
15,
1973
do certificate of deposit
35,000.00
353,000.00
32,000.00
United States Treasury notes
May
15,
1974
15,000.00
Federal Deposit Insurance
TOTAL $303,079.48
$328,831.87
$417,000.00
Franklin National Bank - certificate of deposit
$100,000.00
$100,000.00
$100,000.00
United States Treasury notes
February
15,
1975
15,000.00
Federal Deposit Insurance
TOTAL $100,000.00
$100,000.00
$115,000.00
Midland National Bank - demand deposit
$ 4,820.80
$ 4,820.80
$ 25,000.00
I.S.D. #275'Golden Valley.
July
1,
1979
50,000.00
I.S.D. #423 Hutchinson
March
1,
1980
50,000.00
I.S.D. #742 St. Cloud
February
1,
1980
15,000.00
Federal Deposit Insurance
TOTAL $ 4,820.80
$ 43,820.80
$140,000.00
First Southdale National Bank - demand deposit
$ 64,496.02
$ 78,181.08
$ 20,000.00
I
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
1,
1980
20,000.00
State of California School Bonds
September
1,
1978
20,000.00
Winona Special S/D #5, Minnesota
July
T,
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
203,000.00
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.; #373 School
Building
August
1,
1972
5,000.00
Edina, Minnesota Various'Purpose
September
1,
1970
53,000.00
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 Varioµs Purpose
October
11
1971
20,000.00
Bloomington, Minnesota I.S.D. #271
School Building
February
1,
1979
15,000.00
Federal Deposit Insurance
TOTAL, $ 64,496.02
$ 78,181.08
$315,000.00
-82-
INVESTMENTS
VILLAGE OF EDINA
December 31, 1968
Description
Maturity
Interest Rate
Face Amount
United States Treasury notes
February
15,
1975
5.75%
$ 300,000.00
United States Treasury bills
January
2,
1969
5.15
500,000.00
Federal Intermediate Credit
Bank Debentures
April
1,
1969
6.25
500,000.00
Federal Home Loan Bank Notes
February
25,
1969
.5.85%
$. 500,000.00
do
April
25,
1969
6.25
50,000.00
do
July
25,
1969
5.75
25,000.00
do
March
25,
1970
6.00
75,000.00
$ 650,000.00
Federal National Mortgage
Association Participation
Certificates
February
11,
1970
6.35%
200,000.00
Federal Land. Bank
February
20,
1970
6.300%
$ 300,000.00
do
July
20,
1970
6.00
100,000.00
do
July
20,
1976
5.375
200,000.00
$ 600,000.00
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,-
1969
2.75
20,000.00
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
13P
1970
to 1972
3.90
20,000.00
1957 Park Bonds
March
1,
1970
3.70
5,000.00
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
1958 Waterworks Revenue Bonds
September
1,
1971
to 1974
3.40 to 3.50
27,000.00
1953 Sanitary Sewer Bonds
January
1,
1973
3.10
10,000.00
1968 Municipal State -Aid
Street Bond
March
18,
1970
3.50
195,000.00
$ 427,000.00
TOTAL
$3,177,000.00
OWNERSHIP
_FUND
Face Amount
Carrying Amount
December 31,
December 31,
1968
1968 .
Improvement Funds
$2,073,000.00
$2,095,832.99
General
300,000.00
300,000.00
Poor
27,000.00
27,000.00
Gulf Course
60,000.00
60,307.34
Park Sinking
75,000.00
76,477.00
Park Construction
55,000.00
55,000.00
Waterworks
285,000.00
289,610.40
Sewer Rental
60,000.00
61,229.37
Liquor Dispensary
197,000.00
201,827.86
Recreation Center
45,000.00
45,461.01
$3,177,000.00
$3,212,745.97
-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
Tax rate by mills:
VILLAGE OF EDINA
December 31
1968 1967
$53,585,438.00 $42,060,772.00
2,467,585.00 2,270,030.00
TOTAL $56,053,023.00 $44,330,802.00
1968
1969
$ 1,387,312.32
112,106.05
62,218.86
15,134.32
5,605.30
16,815.91
1967
1968
$ 1,123,799.45
91,217.49
61,115.72
15,050.89
4,560.87
13,682.62
TOTAL $ 1,599,192.76 $ 1,309,427.04
General
24.75
24.64
Parks
2.00
2.00
Bonds and interest
1.11
1.34
Poor and public nursing
.27
.33
Firemen's relief
.10
.10
Fire protection
.30
.30
TOTAL 28.53
28.71
-84-
OFFICIAL BONDS
VILLAGE OF EDINA
December 31, 1968
Position
On file with Clerk- Treasurer:
Blanket position
Blanket position
Treasurer
Village Clerk
Deputy Assessor
Deputy Assessor
Deputy Assessor
On file with County Auditor:
Assessor
Name
Police department-employees
All Village employees not otherwise
required by law to.be specifically
bonded
J. N. Dalen
Florence B. - Ha-llberg _
Loukas M. Angelus
Ralph E..Johnson
Kent Swanson
Donald Kearns
Bond Expires
March 1, 1970
March
1,
1970
March
1,
1970
March
1,
1970
March
1,
1970
March
1,
1970
March
1,
1970
March 1, 1970
Amount I Suret
$ 53000.00
Allied
Mutual.
Insurance
Company
$50,000.00
I
Allied
Mutual
Insurance
Company
$50,000.00
Allied
Mutual
Insurance
Company
$ 500.00
Allied
Mutual
Insurance
Company
$ 500.00
Allied
Mutual
Insurance
Company
$ 500.00
$ 500.00
Allied
Mutual
Insurance
Company
$ 500.00 Allied Mutual Insurance Company
I
I
-85-
INSURANCE COVERAGE
VILLAGE'OF EDINA
December 31, 1968
Village liquor stores:
Comprehensive glass b3
Liquor liability
Boiler - 50th Street
Business interruption
Business interruption
Business interruption
-eakage ActuAl(B)
300,000(B)
50,000
- 50th Street 115,000
- Southdale 90,000
- Grandview 50,000
Fire
and
Extended
Coverage
Building
Contents
Other
Building and contents (A):
Village Hall
$502,150
$ 75,000
Library
359,000
10,000
Morningside municipal buildings
30,800
3,500
Village garage
399,300
27,500
Municipal liquor store - 50th Street
59,500
10,800
Municipal liquor store - Southdale
7,200
Municipal liquor store - Grandview
20,000
Municipal golf course club house
147,000
Municipal recreation center
410,000
112,500
Municipal swimming pool
181,500
Water reservoir
363,000 .
Pumping stations (location):
Wooddale
57,500
55,000
Halifax
10,900
12,100
Southview Lane
10,900
13,200
Southdale
14,500
13,200
Concord
48,400
77,000
Brookview Heights
9,700
13,200
Hansen Road
14,500
17,600
76th Street
58,600
14,000
2nd Street
66,000
103,000
6500 Dewey Hill Road
41,800
13,000
Sherwood
12,100
13,200
Water tower - Concord. Street
133,100
Water tower - 69th Street
218,000
Sanitary sewer lift station
48,400
19,800
Bathhouse
60,500
11,000
Maintenance building - golf course
7,250
2,000
Range building - golf course
1,100
5,000
Dwelling - Olinger Road
6,000
Former library building
:37,500
Inventories:
Liquor store - Southdale
$ 175,000(D)
Liquor store - 50th Street
200,000(D)
Liquor store - Grandview
125,000(D)
Automotive:
Bodily injury
$250 /
500,000
Property damage
100,000
Comprehensive
Actual
cash value
Village liquor stores:
Comprehensive glass b3
Liquor liability
Boiler - 50th Street
Business interruption
Business interruption
Business interruption
-eakage ActuAl(B)
300,000(B)
50,000
- 50th Street 115,000
- Southdale 90,000
- Grandview 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
Boiler
Recreation center:
Business interruption
Burglary, robbery and theft — within premises
Burglary, robbery and theft - outside premises
Burglary, robbery and theft - merchandise
Boiler
Other insurance:
General liability:
Automotive non- ownership, independent
contractor, and Village premises -
operations:
Bodily injury
Property damage
Umbrella policy
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
Boiler.
Other locations
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)
300,000
5,000
5,000
50,000
80,000
2,500
2,500
2,500(C)
50,000
$250 / 500,000
100,000
2,000,000
Statutory
3,000
97,440
Actual cash value
50,000(E)
(F)
Note F - Fire and extended coverage, $10,000 other locations and $10,000 in transit.
-87-
ORGANIZATION
VILLAGE OF EDINA
December 31, 1968
Village Council:
Mayor:
Arthur C. Bredesen, Jr.
Trustees:
James Van'Valkenburg
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 Engineering:
Robert C. Dunn
Term
Expires
December 31
••e
1969
1968
1969
1970
Elected,
Re- elected or
Re- appointed to
December 31
1971
Appointed by Council
1968
••5