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• • •
AUDITED FINANCIAL STATEMENTS
AND OTHER FINANCIAL INFORMATION
VILLAGE OF EDINA, MINNESOTA
December 31, 1970
Somme [I
4
INDEX
ACCOUNTANTS' REPORT ON AUDITED FINANCIAL STATEMENTS........ PAGE 4
COMMENTS AND ACCOUNTANTS' REPORT ON OTHER FINANCIAL
INFORMATION................ ............................... 5
FUNDBALANCE SHEETS ......................................... 10
GENERAL FUND:
BALANCESHEET ............................................. 12
STATEMENTOF SURPLUS ...... ............................... 13
ANALYSIS OF CHANGE IN CASH BALANCE ....................... 14
REVENUE................... ............................... 15
EXPENDITURES.............. ............................... 16
CENTRAL SERVICES EXPENDITURES ............................ 20
FIXEDASSETS ............ ............................... 21
BONDSPAYABLE ............. ............................... 22
POOR FUND:
i'
BALANCESHEET ............. ............................... 23
STATEMENT OF SURPLUS — UNAPPROPRIATED .................... 24
STATEMENT OF REVENUES AND EXPENDITURES ................... 24
ANALYSIS OF CHANGE IN CASH BALANCE ....................... 25
BALANCESHEET .............. ............................... 26
STATEMENTOF SURPLUS ...... ............................... 27
ANALYSIS OF CHANGE IN CASH BALANCE ....................... 28
REVENUE AND EXPENDITURES.... 29
FIXEDASSETS .............. ............................... 30
SWIMMING POOL FUND:
BALANCESHEET ............. ............................... 31
STATEMENTOF SURPLUS ...... ............................... 32
ANALYSIS OF CHANGE IN CASH BALANCE ....................... 33
STATEMENTOF INCOME AND EXPENSE .......................... 34
STATEMENT OF INCOME AND EXPENSE (CONCESSIONS ONLY) ....... 35
FIXEDASSETS ............... ............................... 36
GOLF COURSE FUND:
BALANCESHEET ............. ............................... 37
STATEMENTOF SURPLUS— ................................. o 38
ANALYSIS OF CHANGE IN CASH BALANCE ....................... 39
STATEMENT OF INCOME AND EXPENSE .......................... 40
STATEMENT OF INCOME AND EXPENSE — OPERATING DEPARTMENTS.. 42
FIXEDASSETS .............. ............................... 43
BONDSPAYABLE ............. ............................... 44
RECREATION CENTER FUND:
BALANCESHEET ............. ............................... 45
STATEMENTOF SURPLUS ...... ............................... 46
ANALYSIS OF CHANGE IN CASH BALANCE ....................... 47
STATEMENTOF INCOME AND EXPENSE .......................... 48
FIXED ASSETS .............. ............................... 49
BONDSPAYABLE ............. ............................... 50
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INDEX (Cont'd)
GUN RANGE FUND:
BALANCESHEET .............. ............................... PAGE 51
STATEMENTOF SURPLUS ...... ............................... 52
FIXEDASSETS .............. ............................... 53
PARK SINKING FUND:
BALANCESHEET ............. ............................... 54
STATEMENTOF SURPLUS ...... ............................... 55
ANALYSIS OF CHANGE IN CASH BALANCE ....................... 56
BOND AND INTEREST MATURITIES AND DEFERRED TAX
LEVIES.., ......... ........ ............................... 57
PARK CONSTRUCTION FUND:
BALANCESHEET ............. ............................... 58
ANALYSIS OF RESERVE FOR CONSTRUCTION ..................... 59
ANALYSIS OF CHANGE IN CASH BALANCE ....................... 60
FIXEDASSETS .............. ............................... 61
IMPROVEMENT FUNDS:
COMBINEDBALANCE SHEET .... ............................... 62
STATEMENT OF SURPLUS — UNAPPROPRIATED . — ................. 63
ANALYSIS OF CHANGE IN CASH BALANCE ....................... 64
BONDSPAYABLE ............. ............................... 66
WATERWORKS FUND:
BALANCESHEET ............. ............................... 67
NOTESTO BALANCE SHEET .... ............................... 68
STATEMENTOF SURPLUS ...... ............................... 69
STATEMENT OF INCOME AND EXPENSE .......................... 70
ANALYSIS OF CHANGE IN CASH BALANCE ....................... 72
FIXEDASSETS .............. ............................... 73
SEWER RENTAL FUND:
BALANCESHEET ............. ............................... 74
STATEMENT OF SURPLUS ( DEFICIT ) ........................... 75
STATEMENT OF INCOME AND EXPENSE .......................... 76
ANALYSIS OF CHANGE IN CASH BALANCE ....................... 77
FIXEDASSETS .............. ............................... 78
LIQUOR DISPENSARY FUND:
BALANCESHEET ............. ...............................
STATEMENTOF SURPLUS ...... ...............................
STATEMENT OF INCOME AND EXPENSE ..........................
OPERATINGEXPENSES ........ ...............................
ANALYSIS OF CHANGE IN CASH BALANCE .......................
FIXEDASSETS .............. ...............................
GENERAL:
CASH— ALL FUNDS .......... ...............................
SECURITYFOR DEPOSITS— .... o ... o ..... o ........... o ...
INVESTMENTS— .................... ... ... .... . ... .........
NOTETO INVESTMENTS ....... ...............................
TAXABLE VALUATIONS, TAX LEVIES AND RATES .................
OFFICIALBONDS ............ ...............................
INSURANCECOVERAGE ........ ...............................
ORGANIZATION.............. ...............................
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79
80
81
82
83
84
85
86
87
88
89
90
91
93
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, 1970 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, 1970 and its various special funds
and the results of their operations for the year then ended, in conformity with
generally accepted accounting principles applied on a basis consistent with that
of the preceding year.
Minneapolis, Minnesota
May 18, 1971
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ERNST & ERNST
FIRST NATIONAL BANK BLDG.
MINNEAPOLIS, MINN. 55402
COMMENTS AND ACCOUNTANTS' REPORT ON OTHER FINANCIAL INFORMATION
Village of Edina
Edina, Minnesota
The audited financial statements of the various funds of the Village consisting
of balance sheets and-statements of revenues and expenditures or income and expense,
and surplus and our report thereon are presented in appropriate sections of this
report. Financial information not specifically referred to above and financial
information contained in the following comments, except the schedules of security
for deposits, taxable valuations, tax levies and rates, official bonds, insurance
coverage and organization, was derived from the accounting records tested by us
as part of the auditing procedures followed in our examination of the aforementioned
financial statements and, in our opinion, it is fairly presented in all material
respects in relation to the financial statements taken as a whole; however, it is
not necessary for a fair presentation of the financial position and results of
operations of the Village.
The information shown in the schedules of security for deposits, taxable valuations,
tax levies and rates, official bonds,'insurance coverage, and organization was
prepared from information furnished to us by the Village, but we did not make
independent tests of the schedules as they do not involve information which enters
into the financial statements.
The following comments set forth certain auditing procedures and other matters
pertinent to our examination:
Cash on deposit at December 31, 1970 was reconciled to balances reported directly
to us by the various depositories. Selected cash working funds -and cash on hand for
deposit at December 31, 1970 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.
Securities held for investment by the several funds of the Village were inspected
by us or, in the case where securities were held in safekeeping, confirmed to us.
Related interest income computations were tested. The market value of investments
approximates cost.
Amounts receivable from water and sewer rental charges at December 31, 1970 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.
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Current and delinquent taxes and special assessments and tax settlements received
during the year were confirmed by direct correspondence with the County Auditor.
We reviewed delinquent taxes reported to us and adjusted the balances to conform
to the County Auditor's balances. Transactions pertaining to special assessments
receivable were reviewed.
Interfund transfers and charges and interfund balances were reviewed by us.
We were present at two of the three 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.ac counts 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. As a result
of the policy of rounding amounts in the operating accounts to whole dollars,
depreciation expense on the..fixed asset schedules may not agree with depreciation
expense on the statements of revenue and expenditures and analysis of change in
cash balance by pennies.
We tested accounts payable by direct correspondence and by reference to disburse-
ments subsequent to December 31, 1970.
All canceled bonds redeemed and paid during 1970 were inspected by us. We
inspected interest coupons redeemed and paid during 1970 on a,test basis.
Official minutes of the Village Council for 1970 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, Recreation Center Fund and Gun Range Fund are not depreciated.
COMMENTS ON FINANCIAL STATEMENTS
GENERAL FUND -
Detail schedules reflecting activity and status of this fund are shown on pages 12
to 22, 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.23 to 25, inclusive.
PARK FUND
Reference is made to detail schedules elsewhere in this report as to operations of
this fund. Such details appear on pages 26 to 30, inclusive.
SWIMMING POOL FUND
Detail schedules outlining financial operations of this fund are shown on pages 31'
to 36, inclusive, of this report. The net income of $3,398.25 is after the provision
of $5,500.00 for interest on bonded debt issued for the swimming pool faciliites,
and the provision of $77.50 for depreciation, computed by the straight line method,
on swimming pool equipment.
GOLF COURSE FUND
Net revenues of the Liquor Dispensary Fund are pledged to secure the payment of
obligation of the Golf Course Fund. Detail schedules outlining financial opera-
tions of this fund are shown on pages 37 to 44, inclusive, of this report. The
net income of $41,730.43 is after the provision of $23,801.00 for interest on
bonded debt issued for the golf course facilities, and the provision of $7,059.70
for depreciation, computed by the straight line method, on golf course equipment.
$25,000.00 of the bonded debt matured and was redeemed= in 1970.
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 45 to 50, inclusive. The net income of $2,845.00 is
after the provision of $19,255.00 for interest on bonded debt issued for the
recreational center facilities and the provision of $3,578.00 for depreciation,
computed by the straight line method, on recreational center equipment $25,000.00
of bonded debt matured and was redeemed in 1970.
GUN RANGE FUND
The Gun Range Fund was established in 1970 to reflect the completion of the gun
range building; however, operations were not begun until 1971. Reference is made
to detailed schedules on pages 51 to 53, inclusive. ..Donations of $40;000.00,collect-
ible over 10 years will be used.to.finance the'.building.in. the Park Construction Fund.
PARK SINKING FUND
Reference is made to detail schedules on pages 54 to 57, inclusive, of this report
as to the operations of this fund. $40,000.00 of the bonded debt matured and was
redeemed in 1970.
PARK CONSTRUCTION FUND
Reference is made to detail schedules in this report as to operations of this fund.
Such details appear on pages 58 to 61, inclusive. Fixed assets for park purposes
amounting to $376,193.08 were purchased during the year and projects completed at
a cost of $673,751.52 were transferred to the Park Fund, Recreation Center Fund and
Gun Range Fund. Funds were made available from $ 130,000.00:'.in:transfers.from. the
Liquor Dispensary Fund and a $75,000.00 advance from the Recreation Center 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 62 to
66, inclusive,; of this report.
Construction costs incurred by the Village, other than for park purposes, are ac-
counted for in the Construction Fund which receives the proceeds from sale of
permanent and temporary bonds sold for construction or improvement purposes by the
various improvement funds. Redemption of these bonds is provided for by levies of
special assessments on properties benefited from the construction or improvements.
To facilitate tabulation of these special assessments, interest from date of final
assessment hearing to December 31st is included as part of project costs. Assess-
able costs also include a percentage charge in an amount sufficient to reimburse
the Village for actual costs of engineering and clerical services properly assign-
able to the various special assessment projects.
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The reserve for assessment adjustments represents the excess of assessments over
actual costs incurred, less charges where actual costs exceeded the assessments.
Also charged to the reserve for assessment adjustments are determinable costs for
financed projects on which work had not been done and on which final disposition
is pending. These balances may be used for refunding canceled assessments.
Funds in the amount of $675,000.00 were derived from the sale of Municipal State -
Aid Street Bonds in 1970. The proceeds were used to finance current construction.
The bonds bear interest at the rate of 67. and $225,000.00 of the issue mature on
June l in.each of.the 3 years beginning in 1972. The bonds will be redeemed and
interest paid with funds from future State -Aid allotments.
Advance Funding Highway Bonds in the amount of $2,500,000 were sold in 1970. The
proceeds will be advanced to the State Commissioner of Highways to expedite a
highway improvement within the Village. The bonds bear interest at rates from
5.40% to 5.70% and $625,000.00 of the issue mature on January 1 in each of the 4
years beginning in 1974. The bonds will be redeemed and interest paid with funds
from the State Commissioner of Highways out of the state trunk highway fund.
WATERWORKS FUND
Reference is made to detail schedules elsewhere in this report
this fund. Such details .appear on pages 67 to 73, inclusive.
$100,798.28 is after the provision of $18,135.00 for interest
for the waterworks facilities and the provision of $193,233.00
the facilities. $45,000.00 of the bonded debt matured and was
as to operations of
The net income of
Dn bonded debt issued
for depreciation on
redeemed in 1970.
SEWER RENTAL FUND
Reference is made to detail schedules elsewhere in this report as to operations of
this fund. Such details appear on pages 74 to 78, inclusive. Included in other
income is a settlement with the City of Minneapolis for $59,791.00 representing an
adjustment of prior years' sewer charges.
LIQUOR DISPENSARY FUND
Reference is made to detail schedules elsewhere in this report as to operations of
this fund. Such details appear on pages 79 to 84, inclusive.
Net income of $410,758.60 for the year is after the provision of $10,769.00 of
depreciation, computed by the straight line method, on liquor store equipment.
Of this amount, $275,000.00 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.
SECURITY FOR DEPOSITS
Reference is made to schedule on page 86 of this report showing details of deposits
of the Village and securities pledged as collateral thereto at December 31, 1970.
Security for deposits at the First Edina National Bank were inadequate with re-
spect to compliance with the provisions of M. S:. A. Section 118.01 which prohibit
the Treasurer from maintaining a deposit in excess of ninety .per cent of the market
value of the collateral pledged exclusive of amounts covered by federal deposit
insurance.
N
Balance on deposit
Security for deposit:
Collateral at 90% of market
Federal deposit insurance
First Edina
National Bank
$1,835,817.33
$19530,000.00
20,000.00
$1,550,000.00
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
May.18, 1971
H
$35,728,912.50
General
$ 742,665.50
$ 742,665.50
$ 101,585.47
67,851.16
$ 169,436.63
$ 169,436.63
$ 3,734.99
44,202.64
7,558.41
48,384.44
59.988.94
$ 163,869.42
44.202.64
$ 119,666.78
10,000.00
2,959,739.49
$49001,508.40
Total
ASSETS
Cash:
Current funds (deficit)
$
13774,134.89
Appropriated
10,316.25
$
1,784,451.14
Investments:
United States Treasury notes and.United States
Government Agency securities - at face value
or cost
$
3,780$37.69
Village of Edina bonds - at face value or cost
793,257.12
Land investment - at cost
67,851.16
$
4,641,645.97
Amount segregated and shown below
72,455.00
$
4,569,190.97
Receivables:
Taxes and special assessments:
Current
$
1,911,073.27
Delinquent
357,449.07
Deferred
8,766,975.82
Customers
124,982.58
Advance to Construction Fund
400,000.00
Due from other funds
830',012.66
Due from State Aid Account - State of Minnesota
675,000.00
Miscellaneous receivables
109,088.14
$13,174,581.54
Less allowance for delinquent taxes
890,986.86
$12,283,594.68
Inventories
402,049.37
Prepaid expenses
4,202.13
Segregated investments for reserve for debt retirement
72,455.00
Construction in progress
3,163,230.83
Fixed assets
13$.68,653.42
Unallocated construction costs
81,084.96
$35,728,912.50
General
$ 742,665.50
$ 742,665.50
$ 101,585.47
67,851.16
$ 169,436.63
$ 169,436.63
$ 3,734.99
44,202.64
7,558.41
48,384.44
59.988.94
$ 163,869.42
44.202.64
$ 119,666.78
10,000.00
2,959,739.49
$49001,508.40
Poor Park
$ 8,359.76 $ 23,140.45
$ 8,359.76 $ 2310140.45
$25,358.30
$25,358.30 $
$2511.358.30 $ -
$ 6,132.81-
14,810.55
$ - $ 20,943.36
6,132.81
$ - $ 14,810.55
600.00
FUND BALANCE SHEETS
VILLAGE OF EDINA
December.3.1, 1970
Swimming
Pool Golf Course
($ 8,250.05)
($ 8,250.05)
$ 75,553.29
Recreation
Center
$ 12.147.22
$ . 75;553.29 $ 12,147.22
$ 25,472.19 $ 51,468.51
$ - $
25,472.19
$
51,468.51
-$ - $
25,472.19
$
511468.51
1,55731545.26 21131297.92
$ 408.10 $ 2,400.00
29230.00 12,675.00
$ 2,638.10 $ 15,075.00
$ 2,638.10 $ 15,075.00
1,936.31
126.26 773.20
971,019.48 863,411.75
$33,718.06 $1,596,096.26 $203,047.87 $11074,809.32 $944,811.99
Yark
I
Park
Liquor
Sinking
Construction
Gun Range
Improvement
Waterworks
Sewer Rental
Dispensary
$ 94,333.66
($
46,134.99)
$ 643,446.18
$
80,226.02
$
66,703.67
$
81,944.18
10,316.25
$ 94,333.66
($
46,134.99)
$ -
$ 643,446.18
$
9031542.27
$
661703.67
$
81,944.18
$ 25,000.00
$ 3,246,985.80
$
253,742.84
$
50,924.58
766,000.00.
i
27,257.12
$ 25,000.00
$
_
$ -
$ 4,01231985.80
$
253,742.84
$
-
$
78,181.70
72,455.00
$ 25,000.00
$
_
$ -
$ 4,012,985.80
,$
181,287.84
$
-
$
78,181.70
$ 65,000.00
$ 1,842,338.28
2,237.81
304,875.81
546,000.00
8,213,417.41
j
$
95,438.85
$
26,735.63
400,000.00
5,000.00
$
40,563.64
2551851.72
16,722.31
$
433,775.00
675,000.00
36,000.00
.13,099.20
$618,237.81
$
761563.64
$ -
$11,304,582.42
$
512,161.16
$
2631735.63
$
433,775.00
32,787.81
807,863.60
$585,450.00
$
.76,563.64
$ -
$10,496,718.82
$
512,161.16
$
2631735.63
$
433,775.00
17,594.58
371,918.48
795.85
38.50
2,468.32
72,455.00
379,828.22
21732,962.29
503,440.32
665,231.05
40,945.61
5,916,657.38
13,138.46
1691667.02
81,084.96
$704,783.66
$1,075,487.92
$40,945.61
$17,967,198.05
;$6,841,934.40
$106,616.26
$1,137,954.70
i
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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 (deficit)
Surplus:
..Invested in fixed assets
Appropriated:
For imprest cash
For debt service
For commitments
Unappropriated (deficit)
Total
$ 830,012.66
464,365.13
28,297.41
9,972.15
28,722.50
12,632.00
997,720.31
35,332.33
406,69.6.68
8,923.31
149,741.16
15,938,000.00
104,096.36
( 11,870.49)
11,477,382.23
550.00
171,571.25
467,135.00
4.609.632.51
$35,728,912.50
General
$ 110,680.53
113,603.02
11,501.35
205.00
13,357.29
35,332.33
28,000.00
2,959,739.49
550.00
461,135.00
267,404.39
$4,10001,508.40
Poor
$ 407.95
Park
$ 29,957.65
5,408.19
6,566.43
8,923.31
i
FUND BALANCE SHEETS (Cont d)
I
i
Rwi mmi n v
$ S,000.UU
7.73
11557,545.26 211,297.92 73,330.72 1,014,620.05 40,945.61 5,437,097.70 13,138.46- 169,667.02
52,300.00 36,500.00 82,771.25
6,000.00
33,310.11 ( 18,304.58) ( 13,257.78) 67,113.80 .2,936.39 .60,043.66 ( 945.61) 2,684,356.32 774,745.33 ( 144,'005.95) 896 , 236.43
$33� 718.06 $1,596,096.26 $2033,047.87 $13107451809.32 $944,811.99 $704,783.66 $1,075,487.92 $40,945.61 $17,967,198.05 $6,841,934.40 $106,616.26 $1,13731954.70
i
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Recreation
Park
Park
Liquor
Golf Course
Center
Sinking
Construction Gun Range
Improvement
Waterworks
Sewer Rental Dispensary
$ 253,750.00
$305,607.69
$ 72,181.06 $ 945.61
$ 51,890.12
1,302.80
10,897.16
10,735.48
6,269.06
$ 12,572.57
$236,284.21 $ 663,876.96
342.72
13p786.36
1,726.72
1,199.54 5,174.29
9,972.15
6,121.67
$ 19$75.00
3,020.83
12,632.00
984,363.02
30,439.22
3761257.46
95,365.00
54,376.16
700,000.00
495,000.00
530,000.00
13,655,000.00
530,000.00
104,096.36
( 52,487.89)
4031617.40
11557,545.26 211,297.92 73,330.72 1,014,620.05 40,945.61 5,437,097.70 13,138.46- 169,667.02
52,300.00 36,500.00 82,771.25
6,000.00
33,310.11 ( 18,304.58) ( 13,257.78) 67,113.80 .2,936.39 .60,043.66 ( 945.61) 2,684,356.32 774,745.33 ( 144,'005.95) 896 , 236.43
$33� 718.06 $1,596,096.26 $2033,047.87 $13107451809.32 $944,811.99 $704,783.66 $1,075,487.92 $40,945.61 $17,967,198.05 $6,841,934.40 $106,616.26 $1,13731954.70
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GENERAL FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1970
ASSETS
Cash:
Demand deposits
Time deposits
Automobile and drivers license -fund
Working funds
Investments - at cost:
Federal National Mortgage Association
Certificates
Land investments
Receivables:
Accounts receivable
Special assessments - current
Special assessments - deferred
Due from other funds
Supply inventory - estimated
Taxes receivable - delinquent
Less allowance for delinquent taxes
Fixed assets
$ 66,596.92
600,000.00 $ 666,596.92
75,518.58
550.00
$ 101,585.47
67,851.16
$ 59,988.94
$ 3,734.99
7,558.41 11,293.40
48,384.44
LIABILITIES AND SURPLUS
Due to other funds
Accounts payable:
Trade accounts
Due to State of Minnesota - automobile and
drivers licenses
Accrued payroll
Edina Firemen's Relief Association
Contributions to Edina Library Fund
Sundry deposits
Bonds payable
Accrued interest payable
Surplus:
Invested in fixed assets:
Direct $2,866,626.38
Annexed from Morningside 263,150.00
Contributed 66,963.11
Appropriated:
Reserve for commitments
For imprest cash
Unappropriated
$ 44,202.64
44,202.64
$ 46,982.47
66,620.55
11,501.35
35,332.33
5,104.67
8.252.62
$ 28,000.00
205.00
$2,959,739.49
461,135.00
550.00
$ 742,665.50
169,436.63
119,666.78
10,000.00
2,959,739.49
$4,001,508.40
$ 110,680.53
173,793.99
28,205.00
3,421,424.49
267.404.39
$4,001,508.40
-12-
GENERAL FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year Ended December 31, 1970
APPROPRIATED
Balance at January 1, 1970
Additions:
Transfers.from unappropriated surplus:
For fixed assets - net (deduction)
For commitments
Deductions:
Transfer to revenue
UNAPPROPRIATED
Balance at January 1, 1970
Total
$2,968,168.99
361,103.50
144,852.00
$33,474,124.49
52,700.00
Balance at December 31, 1970 $3,421,4:24.49
Additions:
Revenue - see separate schedule
Payment from State of Minnesota Highway Department
Installment on voting machines
Less:
Expenditures - see separate schedule,
Deductions:.
Transfer to revenue
General Fund share of construction costs
I
Invested in Fixed
i
I
Assets ;
Appropriated
Annexed, from
For Imprest
Reserve for
Direct
Contributed
Morniiigside
Cash
Commitments
$2,504,022.88
$66,963.11
$ 27,1650.00
$ 550.00
$368,983.00
362,603.50
( 1,1500.00)
144,852.00
$218665,626.38
$66,963.11
$ 2631150.00
$ 550.00
$513,835.00
52,700.00
$2,866,626.38
$66,963.11
$ 26,!150.00
I
$ 550.00
$461,135.00
$297,467.82
I
$2,727,307.64
226;404.00
1,624.00
$2,955,335.64
2,718,624.00
236,711.64
$ 534,179.46
$ 2564000.00
10.775.07
266.775.07
Balance at December 31, 1970 $ 267,404.39
-13-
GENERAL FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1970
Balance at January 1, 1970
Additions:
Receipts - per separate schedule
Sale of investments
Collection of amount due others:
Waterworks Fund
Edina Firemen's Relief Association
Collection made on accounts receivable
and due from other funds
Payments received from Independent School
District No. 273 for gasoline purchases
Payment from Minnesota State Highway
Department
Receipts - Morningside Improvement Fund
Less payments from fund
Other
Deductions:
Disbursements - per separate schedule
Gasoline purchased for Independent School
District No. 273
Payments on accruals at December 31, 1969:
Trade accounts
Accrued payroll
Edina Firemen's Relief Association
Due to other funds
Payment of bonds
Decrease in sundry deposits
Cash fund for auto and drivers licenses
Payments on work orders
$ 21,153.88
$2,343,510.44
483,561.67
$ 16,722.31
36,247.33 52,969.64
265,263.32
17,533.47
226,404.00
$ 79,675.88
20,990.87 58,685.01
241.22 3,448,168.77
$3,469,322.65
$2,544,901.00
20,297.34
$ 58,010.93
11,070.34
30,312.00
119,383.84 2181777.11
10,000.00
5,653.65
500.00
21596.63 2,802,725.73
Balance at December 31, 1970 $ 666,596.92
-14-
GENERAL FUND
REVENUE
VILLAGE OF EDINA
I
Year Ended December 31, 1970;
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 TAXESI
Other taxes
Bicycle licenses
Beer and liquor licenses
Cigarette licenses
Dog licenses and impounding fees
Food and soft drink
Gas pump.licenses, burning permits
Other business licenses
Heating and ventilating licenses
Scavenger and garbage collectors licenses
.Receipts
$131199,800.00
$ 41,421.00
254,705.00
$ 296,126.00
$19495,926.00
38,738.00
1,949.00
1,195.00
1,937.00
6,297.00
7,877.00
1,027.00
5,351.00
1,148.00
894.00
I
Actual
Revenue
Over- Under*
Estimated Estimated
Revenues Revenue Revenue
$11,199,800.00
$ 41,421.00
254,705.00
$ 296,126.00
$13,495,926.00
I 38 , 7.38.00
1,940.00
1,195.00
1,937.00
6,297.00
7,877.00
1,027.00
5,351.00
1,148.00
894.00
Water softener installation license
50.00
50.00
Building permits
55,983.00
$ 45.00
56,028.00
Cesspool and sewer permits
1,161.00
1,161.00
Plumbing permits
14,674.00
14,674.00
Sign permits
930.00
930.00
Street opening fees
i 3,578.00
3,578.00
Heating permits
I 45,107.00
4,107.00
Planning fees
2,218.00
22218.00
Engineering +and clerical
59,430.00
48,016.00
107,446.00
Police and fire service
9,531.00
.92531.00
Equipment rental
( 4,500.00)
12938.00. (
2,562.00)
Fines
86,299.00
20,168.00
1062467.00
Income on investments
34,692.00
342692.00
Sale and rental of property
392688.00
392688.00
Sale of automobile and drivers licenses
8,398.00
82398.00
State apportionment - liquor and cigarettes
State sales and use
Contribution from active funds
Charges to other funds
Discount earned
Other revenue
Special assessment- :;;.tree trimming
Transfer - unappropriated surplus.
Transfer - reserve for commitments
134,592.00
296,080.00
18,389.00
17,880.00
1,538.00
14,382.44
$2,343,510.44
107.00
11,894.20
256,000.00
27.700.00
$383,79.7.20
134,592.00
296,080.00
18,389.00
17,880.00
1,645.00
26,276.64
256,000.00
27.700.00
$2,727,307:64
$1,210;164.00
$ 41;421.00
254;705.00
$ 296,126.00
$1,506,290.00
39.,000.00
2';250.00
1,500.00
1,600.00
6,, 800.00
4 800.00
1,200.00
4',450.00
700.00
;600.00
i
55;000.00
2,500.00
18;000.00
4;000.00
1;.500.00
6;000.00
2;000.00
150,000.00
9;531.00
500.00
92;700.00
36;000.00
47;070.00
4,500.00
132;004.00
296;079.00
18;389.00
17;880.00
I
I
14;950.00
6;000.00
256,1000.00
27 �700.0'0
$2,7673493.00
1 1
$10,364.00*
$10,364.00*
262.00*
301.00*
305.00*
337.00
503.00*
3,077.00
173.00*
901.00
448.00
294.00
50.00
1,028.00
1,339.00*
3,326.00*
3,070.00*
2,078.00
1,893.00*
218.00
42,554.00*
3,062.00*
13,767.00
1,308.00*
7,382.00*
3,898.00
2,588.00
1.00
1,645.00
11,326.64
6,000.00*
$40,185.36*
-15-
GENERAL FUND
EXPENDITURES
VILLAGE OF EDINA
Year Ended December 31, 1970
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 services
Commodities
Fixed charges
Legal services
Library:
Personal services
Contractual services
Commodities
Fixed charges
TOTAL GENERAL GOVERNMENT
ADMINISTRATION, ENGINEERING AND PUBLIC WORKS
Administration:
Personal services
Contractual services and commodities
Fixed charges
Engineering:
Personal services
Contractual services
Commodities
Fixed charges
Disbursements
$ 16,803.00
22,184.00
$ 59,387.00
7,991.00
16.00
14,220.00
$ 81,614.00
$ 54,446.00
3,377.00
11.00
10,800.00
$ 68,634.00
25,856.00
$ 57,653.00
4,156.00
399.00
11,280.00
$ 73,488.00
47,074.00
$ 10,421.00
12,036.00
2,622.00
900.00
$ 25,979.00
$ 361,632.00
$ 222056.00
147.00
4,740.00
$ 26,943.00
$ 107,636.00
5,707.00
5,072.00
18,900.00
$ 137,315.00
Encumbrances
$ 214.00
$ 16.00
91.00
$ 71.00
28.00
$ 99.00
( 7,279.00.)
$ 174.00
126.00
T 2,239.00
$ 232.00
811.00
577.00
$ 1,620:00
($ 2,700.00)
T
$ 2,232.00
1.00
192.00
$ 2,425.00
Expenditures
$ 161803.00
22,398.00
$ 59,403.00
8,082.00
16.00
14.220.00
$ 81,721.00
$ 54,517.00
3,405.00
11.00
10,800.00
$ 68,733.00
i 1810577.00
$ 57,653.00
4,330 .00
525.00
11,280.00
$ 73,788.00
49,313.00
I
$ 10,653.00
12,847.00
3,199.00
900.00
$ 27,599.00
$ 358,932.00
$ 222056.00
147.00
4.740.00
$ 26,943.00
$ 109,868.00
5,708.00
5,264.00
18.900.00
$ 139,740.00
I
i
I
Appropriation
1
$ 16,810.00
22,810.00
$ 59,400.00
8,209.00
50.00
14,220.00
$ 81,879.00
$ 54,620.00
3,620.00
50.00
10,800.00
$ 69,090.00
16,621.00
$ 57,810.00
4,734.00
470.00
11,280.00
$ 74,294.00
51,760.00
$ 10,850.00
.12,940.00
3,200.00
900.00
$ 27,890.00
$ 36131154.00
I
I
$ 22,0,60.00
170.00
4, 7,40.00
$ 26,970.00
$ 107,810.00
6,300.00
5,400.00
18,900.00
$ 138,410.00
Unexpended
Overexpended*
Balance
$ 7.00
412.00
$ 3.00 *.
127.00
34.00
$ 158.00
$ 103.00
215.00
39.00
$ 357.00
1,956.00*
$ 157.00
404.00
55.00*
$ 506.00
2,447.00
$ 197.00
93.00
1.00
$ 2,222.00
$ 4.00
23.00
$ 2,058.00*
592.00
136.00
$ 1,;330.00*
-16-
GENERAL FUND
EXPENDITURES (Cont'd)
ADMINISTRATION, ENGINEERING AND PUBLIC WORKS (Cont'd)
Public works:
Supervision and clerical
Training
Paid leave
General maintenance
Street cleaning
Renovation
Snow and ice removal
Alley construction
Street lighting
Ornamental 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
Sidewalks:
Maintenance and repair
Snow and ice removal
Parking ramp maintenance
TOTAL PUBLIC WORKS
TOTAL ADMINISTRATION, ENGINEERING AND PUBLIC WORKS
PROTECTION OF PERSONS AND PROPERTY
Police protection:
Personal services
Contractual services '
Commodities
Fixed charges
Disbursements
$ 583,739.00
1,008.00
29,744.00
110,318.00
48,413.00
50,462.00
54,407.00
59,986.00
2,724.00
14,352.00
$ 13,270.00
.7,930.00
.4,936.00
$ 26,136.00
3,206.00
5,733.00
26,150.00
829.00
$ 7,390.00
13,102..00
$ 20,492;00
184.00
6,695.00
$ 1,880.00
480.00
$ 2,360.00
.1,068.00
$ 523,006.00
$ 6879264.00
$. 46.71607.00
11,518.00
..4,199.00
108,600.00
$ 591,924.00
Encumbrances
($ 40.00)
3,102.00
3,078.00
2.00
5,825.00
6,193.00
479.00
$ 1,169.00
791.00 j
$ 1,960.00
164.00.
I
35.00
$. 98.00
$ 98.00
1,017.00
y. -
4.00
$ 21,917.00
$ 24,342.00
$. 955.00
1,153.00
1,648.00
$ 3,756.00
Expenditures
$ 58,699.00
1,008.00
32,846.00
113,396.00
,48,413.00
50,464.00
60,232.00
66,179.00
2,724.00
14,831.00
$ 14,439.00
8,721.00
4,936.00
$ 282096.00
3,370.00
5,733.00
26,185.00
829.00
$ 7,390.00
13,200.00
$ 2031590.00
1,201.00
6,695.00
$ 1,880.00
480.00
$ 2,360.00
1,072.00
$ 544,923.00
$ 711,606.00
$. 468,562.00
12 , 6 71.00
5,847.00
108,600.00
$ 595,680.00
i
Appropriation
$ 59 :1320.00
1,100.00
32 ,'900.00
113 ,!5 25.00
49;'931.00
54:i'023.00
68;200.00
1,500.00
741210.00
5;000.00
16;724.00
$ 14;120.00
9,J080.00
5 ,'320.00
$ 28 3520.00
3;403.00
6,'650.00
27;880.00
970.00
$ 8,020.00
15 ,'350.00
$ 23,370.00
1;500.00
10;000.00
$ 1;920.00
1780.00.
$ 2,700.00
2,'000.00,
$ 583,426.00
$ 748,806.00
I
I'
I
$ 468,638.00
12,995.00
4,500.00
108;600.00
$ 594,733.00
Unexpended
Overexpended*
Balance
$ 621.00
92.00
.54.00
129.00
1.,518.00
3,559.00
7,968.00
1,500.00
8,031.00
2,276.00
1,893.00
$ 319.00*
359.00
384.00
$ 424.00
33.00
917.00
1,695.00
141.00
$ 630.00
2,150.00
$ 2,780.00
299.00
3,305.00
$ 40.00
300.00
$ 340.00
928.00
$38,503.00
$37,200.00
$ 76.00
324.00
1,347.00*
$ 947.00*
-17-
GENERAL FUND
EXPENDITURES (Cont'd)
PROTECTION OF PERSONS AND PROPERTY (cont'd)
Fire protection:
Personal services
Contractual services
Commodities
Fixed charges
Civilian Defense
Public health:
Personal services
Contractual services
Commodities
Fixed charges
Animal control
Inspections:
Personal services
Contractual services
Commodities
Fixed charges
TOTAL PROTECTION OF PERSONS AND PROPERTY
NON- DEPARTMENTAL
Disbursements
$ 214,876.00
6,209.00
4,154.00
45,120.00
$ 270,359.00
4,160.00
$ 26,894.00
564.00
2,223.00
4,620.00
$ 34,301.00
14,446.00
$ 38,538.00
3,420.00
572.00
8,220.00
$ 50,750.00
$ 965,940.00
Encumbrances
$ 332.00
301.00
86.00
($ 6,370.00)
( 429.00)
( 1,316.00)
($ 8,115.00)
1,360.00
$ 305.00
36.00
79.00
$ 420.00
($ 1,860.00)
Expenditures
$ 214,876.00
6,541.00
4,455.00
45,120.00
$ 270,992.00
4,246.00
$ 20,524.00
135.00
907.00
4,620.00
$ 26,186.00
15,806.00
$ 38,843.00
3,456.00
651.00
8,220.00
$ 51,170.00
$ 964,080.00
Appropriation
$ 214,898.00
5,417.00
4,520.00
45,120.00
$ 269,955.00
4,335.00
$ 20,720.00
883.00
1,094.00
4,620.00
$ 27,317.00
16,150.00
$ 38,540.00
2,831.00
656.00
8,220.00
$ 50,247.00
$ 962,737.00
Unexpended
Overexpended'•%
Balance
$ 22.00
1,124.00*
65.00
$ 1,037.00*
89.00
$ 196.00
748.00
187.00
344.00
$ 303.00*
625.00*
5.00
.j ILJ.VV""
$ 1,343.00*
Contingencies
$ 10,810.00
$
81.00
$ 10,891.00
$ 9,220.00
$ 1,671.00%
Special assessments on Village park property
49,759.00
4,018.00
4,075.00
49,759.00
49,780.00
21.00
Human Rights Commission
2,607.00
46,700.00
30.00
2,637.00
4,650.00
2,013.00
TOTAL NON- DEPARTMENTAL
$ 63,176.00
$
111.00
$ 63,287.00
$ 63,650.00
$ 363.00
CENTRAL SERVICES
2,279.00%
Inspections
3,990.00
3,990.00
4,000.00
See separate schedule attached
64,927.00
4,383.00
18,009.00
82,936.00
88,100.00
5,164.00
TOTAL OPERATING EXPENSES
$2,142,939.00
$
37,902.00
$2,180,841.00
$2,224,447.00
$43,606.00
CAPITAL OUTLAY
Assessing
$ 2,188.00
$ 2,188.00
$ 2,200.00
$ 12.00
Engineering
4,018.00
4,018.00
4,075.00
57.00
Public works
46,525.00
461525.00
46,700.00
175.00
Police
23,671.00
$ 675.00
22,996.00
21,659.00
1,337.00-
Fire
6,096.00
6,096.00
3,817.00
2,279.00%
Inspections
3,990.00
3,990.00
4,000.00
10.00
Contingencies
4,383.00
188.00
4,571.00
4,580.00
9.00
Special assessments on Village property
6,950.00
6,950.00
6,970.00
20.00
Unallocated capital outlay
288,293.00
( 8,544.00)
279,749.00
288$45.00
8,596.00
Capital improvements
15,848.00
15,848.00
15;848.00
-
$ 401;962.00
($ 9,031.00)
$ 392,931.00
$ 398,194.00
$ 5,263.00
-18-
GENERAL FUND
EXPENDITURES (Cont'd)
RESERVE FOR COMMITMENTS
Assessing
Police protection
Public works
Unallocated capital outlay
Capital improvements
Disbursements
TOTAL $2,544,901.00
( ) Indicates deduction..
Encumbrances Expenditures
$ 1,000.00 $ 1,000.00
.10,000.00 103000.00
621700.00 62,700.00
2,000.00 2,000.00
69,152.00 69,152.00
$144,852.00 $ 144,852.00
$173,723.00 $2,718,624.00
i
I
Unexpended
Over6xpended*
Appropriation
i
Balance,
$ 13000.00
$ -
10,000.00
-
62,700.00
-
2,000.00
-
69,152.00
-
$ 144,852.00
i
$ -
i
$2,767,493.00
$48,869.00
GENERAL FUND
CENTRAL SERVICES EXPENDITURES
VILLAGE OF EDINA
Year Ended December 31, 1970
General:
Contractual services
Commodities
TOTAL GENERAL
Village Hall:
Personal services
Contractual services
Commodities
Central services
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
Disbursements
$282,557.00
7,186.00
$289,743.00
$ 12,982.00
10,202.00
2,770.00
900.00
T26,854.00
25,976.00
$ 61,305.00
44,650.00
19,319.00
22,860.00
27,532.00
8,881.00
2,040.00
26,267.00
$212,854.00
$555,427.00
490,500.00
$ 64,927.00
Encumbrances
$ 116.00
521.00
$ 637.00
$ 372.00
1,082.00
448.00
$ 1,902.00
3,611.00
$ 1,044.00
2,518.00
2,343.00
3,087.00
1,3.04.00
.9.00
1,554.00
$11,859.00
$18,009.00
$18,009.00
Expenditures
$282,673.00
7,707.00
$290,380.00
$ 13,354.00
11,284.00
3,218.00
900.00
$ 283,756.00
29,587.00
$ 624349.00
47,168.00
21,662.00
22,860.00
30,619.00
10,185.00
2,049.00
27,821..00
$224,713.00
$573,436.00
490,500.00
$ 82,936.00
ADDroDrilation
$284,160.00
7,500.00
$291,660.00
$.13,300.00
11,035 .00
3,405.00
900.00
$ 28$640-00
27,240.00
$ 64,40.0.00
47,400.00
22,000.00
22,860.00
29,00.0.00
10,500.00
2,500.00
32,400.00
$231,060.00
$578,60,0.00
490.500.00
$ 88,100.00
i
Unexpended
Overexpended
Balance
$1,487.00
207.00*
.$1,280.00
$ 54.00*
249.00*
187.00
$ 116.00*
2,347.00*
$2,051.00
232.00
338.00
1,619.00*
315.00
451.00
4,579.00
$6,347.00
$5,164.00.
$5,164.00
-20-
GENERAL FUND
FIXED ASSETS
.VILLAGE OF EDINA
Year Ended December 31, 1970
TOTAL $29598,635.99 $408,188.00 $47,084.50 $2,959,739.49
-21-
Balance
Balance
January 1,
December 31,
1970
Additions.
Deductions
.1970
Land
$ 276,316.24
$ 46,552.00
$ 322,868.24
Land improvements
149,789.48
6,950.00
156,739.48
Buildings
1,185,613.67
244,968.00
1,430,581.67
Furniture and fixtures
67,914.28
10,202.00
$ 295.00
77,821.28
Equipment:
Highway
459,927..21
56,178.00
22,845.93
493,259.28
Police
61,759.69
33,135.00
19,502.78
75,391.91
Fire
1502794.10
5,795.00
137.20
156,451.90
Election
96,257.93
96,257.93
Engineering
31,655.23
4,408.00
4,303.59
31,759.64
Traffic signal
84,707.18
84,707.18
Executive
1,834.15
1,834.15
Miscellaneous
32.066.83
32,066.83
TOTAL $29598,635.99 $408,188.00 $47,084.50 $2,959,739.49
-21-
Annual maturities and
interest dates
Interest rates
GENERAL FUND
BONDS PAYABLE
VILLAGE OF EDINA
December 31, 1970
Year Total
1971.
$ 8,000.00
1972
5,000.00
1973
5,000.00
1974
51000.00
1975
5,000600
No. 12
$28,000.00
Sanitary Sewer
Improvement
No: 11 and
Curb and Gutter
Street
Improvement
Improvement
No. 12
No. 14
February 1 and
May l and
August 1
November 1
3.4%
3.9%
$3,000.00
$ 5,000.00
5,000.00
5,000.00
5,000.00
5,000.00
$3,000.00
$251000.00
-22-
POOR FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1970
ASSETS
Cash on deposit
Investments:
Federal National Mortgage Association
Participation Certificate - at cost
LIABILITIES AND SURPLUS
Accounts payable
Unappropriated surplus
$ 8,359.76
25,358.30
$33,718.06
$ 407.95
33,310.11
$33,718.06
-23-
Balance at January 1, 1970
Additions:
Net income for year
POOR.FUND
STATEMENT OF SURPLUS - UNAPPROPRIATED
VILLAGE OF EDINA
Year Ended December 31, 1970
$31,613.42
1,696.69
Balance at December 31, 1970 $33,310.11
STATEMENT OF REVENUES AND EXPENDITURES
Revenue receipts and accruals:
Tax settlements
Income on investments
Disbursements and accruals:
Suburban Hennepin County Relief Board:
Relief orders
Administration
Rural Hennepin County Nursing Committee
Professional services.
Year Ended
December 31
Increase
1970
1969
Decrease*
$13,763.18
$15,403.60
$
1,640.42*
1,871.82
1,282.98
588.84
$15,635.00
$16,686.58
$
1,051.58*
$ 1,350.45
$ 2,261.98
$
911.53*
1,439.37
962.24
477.13
10,998.49
10,998.49
-
150.00
125.00
25.00
$13,938.31
$14,347.71
$
409.40*
NET INCOME $ 1,696.69
$ 2,338.87
$
642.18*
-24-
POOR FUND
ANALYSIS OF CHANGE IN -CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1970
Balance at January 1, 1970
Additions:
Sale of investments
Tax settlements received:
March 1970
June 1970
November 1970
Income on investments
Deductions:
Payment to Suburban Hennepin County
Relief Board:
Relief orders
Administration
Less accounts payable at December 31, 1970
Payment made on accrual at December 31, 1969
Rural Hennepin County Nursing Committee
Professional service
$ 774.99
5,443.93
7,544.26 $13,763.18.
1,871.82
$1,350.45
1,439.37
$2,789.82
407.95 $ 2,381.87
223.41
10,998.49
$ 478.53
�1
15,635.00
$22,113.53
150.00 131753.77
Balance at December 31, ,1970 $ 8,359.76
-25-
PARK FUND
' BALANCE SHEET
VILLAGE OF EDINA
December 31, 1970
ASSETS
Cash:
Demand deposits
Receivables:
Taxes receivable - delinquent
Less allowance for delinquent taxes
Due from other funds
Inventory of supplies - estimated
Fixed assets - at cost
LIABILITIES AND SURPLUS
Liabilities:
Accounts payable
Accrued salaries and wages
Due to other funds
Unexpended contributions for specific purposes:
Teen -Age Recreation Program
Figure skating and skiing instructors'salaries
Other
Surplus:
Appropriated:
Invested in fixed assets:
Direct"
Contributed:
By General Fund by
payment of special
assessments
By others
Reserve for commitments
Unappropriated (deficit)
$1,146,659.44
$ 6,132.81
6,132.81
$ 1,441.16
6,986.09
496.06
$400,327.16
10,558.66 410,885.82 $1,557,545.26
6,000.00
$ 23,140.45
14,810.55
600.00
1,557,545.26
$1,596,096.26
$ 5,408.19
6,566.43
29,957.65
$ 41,932.27
8,923.31
1,563,545.26
( 18,304.58)
$1,596,096.26
-26-
PARK FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year Ended December 31, 1970
APPROPRIATED
Combined
Balance at January 1, 1970 $1,166,088.43
Additions:
Transfers from unappropriated surplus:
For fixed assets 9,299..00
For commitments 6,000.00
Special assessments paid by General Fund 49,759.61
Transfer of fixed assets from Park Construction Fund 332,398.22
Balance at December 31, 1970 $1,563,545.26
UNAPPROPRIATED
Balance (deficit) at January 1, 1970
Additions:
Revenue for year (see separate schedule for details)
Deductions:
Expenditures for year, including.$15,299.00 for
capital outlay and commitments for fixed assets
(see detail schedule)
Investment in Fixed Assets
Contributed
By General
Fund by
Payment of
Special
Assessments By Others
$350,567.55 $101558.66
I
I
D irec t
$ 804,962.22
Reserve for
9,299.00
6,000.00
49,759.61
332,398.22
$400,327.16 $102558.66 $1,146,659.44 $ 6,000.00
I
{ ($ 10,906.64)
271,716.06
$260,809.42
279,114.00
Balance (deficit) at December 31, 1970 ($ 18,304.58)
-27-
PARK FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1970
Balance at January 1, 1970
Additions:
Receipts for year (see separate schedule for
details)
Sale of investments
Payments received on accruals. at December 31, 1969
Registration fees - figure skating and skiing
Dedicated funds:
Teen -Age Recreation Program
Archery, gymnastics, etc.
Other
Deductions:
Disbursements for year (see separate schedule
for details)
Expenses - figure skating and skiing
Payment.on accruals at December 31, 1969:
Accounts. --payable
Accrued payroll
Due to other funds
Payment from dedicated funds
Payment of amount due from other funds
$ 4,777.46
8,667.50
$268,587.55
12,500.00
9,125.00
31,940.90
13,444.96
106.70
$275,524.00
18,911.21
$ 4,675.08
5,433.51
13,147.35 23,255.94
8,715.90
4.316.55
Balance at December 31, 1970
$ 18,158.94
335,705.11
$3531864.05
330,723.60
$ 23,140.45
-28-
PARK FUND
REVENUE AND EXPENDITURES
VILLAGE OF EDINA
Year Ended December 31, 1970
REVENUE
Real and personal property taxes
Registration fees
Transfer from Liquor Dispensary Fund
Other revenue
TOTAL REVENUE
EXPENDITURES
Administration:
Personal services
Contractual services
Commodities
Central services
Training
Paid leave
TOTAL ADMINISTRATION
Capital outlay
Recreation:
Baseball and softball
Skating and hockey
Tennis instruction
Playgrounds
Swimming instruction
Teen program
Special activities
TOTAL RECREATION
Maintenance:
Mowing
Special turf care
Planting and trees
Litter removal
Parking areas
Building and equipment
Skating rinks
TOTAL MAINTENANCE
TOTAL EXPENDITURES
( ) Indicates deduction.
Receipts
$118,720.00
22,433.00
126,611.00
823.55
$268,587.55
Disbursements
$ 43,928.00
2,430.00
91.00
24,060.00
190.00
10,189.00
$ 80,888.00
8,829.00
$ 7,549.00
13,031.00
2,343.00
14,484.00
17,359.00
3,506.00
7,031.00
$ 65,303.00
$ 14,817.00
22,572.00
6,410.00
5,940.00
5,949.00
24,443.00
40,373.00
$120,504.00
$275,524.00
Accruals
($2,230.00)
5,358.51
$3,128.51
Adjustments
and
Encumbrances
$ 50.00
3.00
978.00
$1,031.00
6,470.00
($2,835.00)
( 1,655.00)
158.00
22.00
( 3,017.00)
108.00
($7,219.00)
($ 983.00)
( 402.00)
4,693.00
$3,308.00
$3,590.00
Revenue
$118,720.00
20,203.00
126,611.00
6,182.06
$271,716.06
Expenditures
$ 43,928.00
2,480.00
94.00
24,060.00
190.00
,11,167.00
$ 81,919.00
15,299.00
$ 4,714.00
11,376.00
2,501.00
14,506.00
17,359.00
489.00
7,139.00
$ 58,084.00
$ 14,817.00
21,589.00
6,410.00
5,940.00
5,949.00
24,041.00
45,066.00
$123,812.00
$279,114.00
Estimated
$121,089.00
27,000.00
126,611.00
750.00
$275,450.00
Appropriation
$ 43,520.00
2,125.00
100.00
24,060.00
200.00
8,480.00
$ 78,485.00
16,800.00
$ 5,010.00
11,690.00
3,030.00
14,700.00
17,675.00
1,000.00
7,550.00
$ 60,655.00
$ 14,900.00
21,600.00
6,425,.00
5,960..00
5,950.00
24,100.00
40,575.00
$119,510.00
$275,450.00
Actual
Revenue
Over- Under*
Estimated
Revenue
$2,369.00-
6,797.00-
5,432.06
$3,733.94-
Expenditures
Over* -Under
Appropriation
$ 408.00-
355.00-
6.00
10.00
2,687 .00;;
$3,434.00-
1,501.00
$ 296.00
314.00
529.00
194.00
316.00
511.00
411.00
$2,571.00
$ 83.00
11.00
15.00
20.00
1.00
59.00
4,491.00*
$4,302.00-
$3,664.00-
-29-
PARK FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December 31; 1970
Balance
January 1,
1970
Additions
Balance
December 31,
1970
Land
$ 9031806.64
$332,398..22
$ 423,204.86
Skating rinks
5,812.03
Arden Park
5,812.03
Land improvements
367,688.00
49,759.61
4171447.61
Building
4,04.2.32
30,576.10
41042.32
Park equipment
55,026.43
21412.00
57,438.43
Furniture, fixtures and equipment
2,666.78
304.00
2,970.78
Trucks, automobile and tractors
42,906.78
5,613.00
48,519.78
Miscellaneous
6,945.32
970.00
7,915.32
Parks:
Utley Park
24,782.76
24,782.76
Chowen Park
6,675.95
6,675.95
Arden Park
17,760.48
17,760.48
Normandale Park
47,123.53
47,123.53
Alden Park
30,576.10
30,576.10
Highlands Park
65,322.66
65,322.66
York Park
9,368.19
9,368.19
McGuire Park
3,959.00
3,959.00
Cornelia School Park
41,631.64
.41,631.64
Nine Mile Creek Parkway
3,220.92
3,220.92
Lake Edina Park
34,826.54
34,826.54
Countryside Park
23,227.65
23,227.65
Beard Park
15,160.46
15,160.46
Division Park
36,068.46
360,068.46
Valley View School Park
82696.96
8,696.96
Garden Park
45,518.85
45,518.85
Heights Park
26,200.40
26,200.40
Walnut Ridge Park
13,504.15
13$04.15
Creek Valley School Park
54,232.73
54,232.73
Cornelia Park
Weber Park
Sherwood Pump Park
Birchcrest Park
Tingdale Park
St. John's Park
Bristol Park
48,239.51
21,325.65
700.51
2,816.49
4,020.11
733.33
4,501.10
TOTAL $111662088.43
48,239.51
21,325.65
700.51
2,816.49
4,020.11
733.33
4,501.10
$3913,456.83 $1,557,545.26
-30-
SWIMMING'POOL FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1970
ASSETS
Cash (deficit)
Fixed assets - on the basis of cost:
($ 8,250.05)
Land $ 10,000.00
Swimming pool and bathhouse 184,026.67
Filter system 17;000.00
Concession furniture aXid fixtures $400.00
Less allowances for depreciation 128.75 271.25 211,297.92
$203,047.87
LIABILITIES AND SURPLUS
Accounts payable
Due to Park Sinking Fund
Surplus:
Invested in fixed assets:
From bonds
Direct
Donated
Unappropriated (deficit)
$209,431.89
1,816.03
50.00
$ 7.73
5,000.00
$ 5,007.73
211,297.92
( 13,257.78)
$203,047.87
-31-
SWIMMING POOL FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year Ended December 31, 1970
Unappro- Invested in Fixed Assets'
Total priated Donated Direct From Bonds
Balance (deficit) at
January 1, 1970
$194,141.89
($17,233.53) $50.00
$1,893.53 $209,431.89
Additions and transfers:
Net income for the year
3,398.25
3,398.25
Interest provided for at
December 31, 1969 included
in operations
5,500.00
5,500.00
Provision for depreciation
-
77.50
( 77.50)
$2032040.14
($ 8,257.78) $50.00
$1,816.03 $209,431.89
Deduct:
Allocation to.Sinking Fund
for interest
5,000.00
5,000.00
Balance (deficit) at
December 31, 1970
$198,040.14
($13,257.78) $50.00
$1,816.03 $209,431.89
-32-
SWIMMING POOL FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1970
Balance (deficit) at.January 1, 1970
Additions:
Pool fees
Concession income (see separate schedule)
Add provision.for depreciation not
requiring cash.
Other revenue
Deductions:
Operating expense (see separate schedule)
Less accounts payable at December 31, 1970
Payment made on accruals at December 31, 1969
$52,536.00
$2,090.00
($11,552.44)
77.50 2,167:50
1,529.25 56,232.75
$44,680.31
$47,257.00
7.73.
$47,249.27
5,681.09 52,930.36
Balance (deficit) at December. 31, 1970 ($ 8,250.05)
-33-
SWIMMING POOL FUND
STATEMENT OF INCOME AND EXPENSE
VILLAGE OF EDINA
Year Ended December 31, 1970
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
Cleaning supplies
Water treatment
General supplies
Annual audit
Printing and office expense
Central services
Other
Interest on bonds
Income from concessions - see separate schedule
$' 4,179.00
12,905.00
1,,478.00
4,556.00
1,'1133.00
4,804.00
$44,558.00
7,9.78.00
$29,055.00
1,428.00
329.00
2,848.00
157.00
195.00
246.00
3,839.00
679.00
2,009.00
2,946.00
150.00
721.00
2,640.00
1'5.00
$52,536.00
.1,500.00
29.25
$54,065.25
47,257.00
$ 6,808.25
5,500.00
$ 1,308.25
2,090.00
NET INCOME $ 3,398.25
-34-
SWIMMING POOL FUND
STATEMENT OF INCOME AND EXPENSE (CONCESSIONS ONLY)
Soft drinks
Soft ice cream
Popcorn
Pies
Cakes
Sandwiches
Other
Operating expenses:
Salaries and wages:
Manager
Clerk
Supplies
Repairs and maintenance
Provision for depreciation
VILLAGE OF EDINA
Year Ended December 31, 1970
$ 1,125
2,376 $3,501
36
52
78 3,667
NET INCOME $2,090
a
-35,
Gross
Profit
Cost of
Per Cent
Sales
Sales
Amount
to Sales
$ 2,195
$1,295
$ 900
41.00%
2,627
1,379
1,248
47.51
2,720
551
2,169
79.74
763
522
241
31.59
2,294
1,487
807
35.18
1,116
877
239
21.42
304
151
153
50.33
$12,019
$6,262
$5,757,,,
47.90%
$ 1,125
2,376 $3,501
36
52
78 3,667
NET INCOME $2,090
a
-35,
SWIMMING POOL FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December 31, 1970
ASSETS
Land
Swimming pool and bathhouse
Filter system
Concession furniture and equipment
ALLOWANCE FOR DEPRECIATION
Concession furniture and equipment
Balance
January 1,
1970 Additions Deductions
$ 10,000.00
184,026.67
17,000.00
/.nn nn
$211,426.67 $ - $ -
Balance
December 31,
107n
$ 10,000.00
184,026.67
17,000.00
i, nn nn
$211,426.67
$ 51.25 $77.50 $ - $ 128.75
NET BALANCE $211,375.42
$211,297.92
-36-
GOLF COURSE FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1970
ASSETS
Cash:
Demand deposits
Time deposits
Working funds
Investments:
Federal National Mortgage Association - at cost
Accrued interest
Accounts receivable
Due from other funds
Prepaid expenses
Fixed assets - on the basis of cost:
Golf course
Buildings
Well
Parking lot and roadways
Equipment
Less allowance for depreciation
Accounts payable
Accrued payroll
Due to other funds
Loan from Liquor Dispensary Fund
Bonds payable
Surplus:
Appropriated - for debt service
Unappropriated
$35,501.29
40,000.00 $ 75,501.29
52.00
$ 25,358.30
113.89
$ 75,553.29
25,472.19
408.10
2,230.00
126.26
$7263,414.02
182,906.82
15,018.15
9,627.32
$76,704.98
39,651.81 37,053.17 971,019.48
$1,074,809.32
LIABILITIES AND SURPLUS
$ 1,302.80
342.72
8,750.00
245,000.00
700,000.00
52,300.00
67,113.80
$1,074,809.32
-37-
GOLF COURSE FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year Ended December.31, 1970
Appropriated
for Debt
Service Unappropriated
Balance at January 1, 1970 $52,300.00
Add net income for the year
Balance at December 31, 1970 $52,300.00
$25,383.37
41,730.43
$67,113.80
-38-
GOLF COURSE FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1970
Balance (deficit) at January 1, 1970
Additions:
Revenue - see separate schedule
Net income - operating departments -
see separate schedule
Add depreciation included therein
not requiring cash
Sale of investments
Income on investments
Decrease in prepaid expense
Payments from other funds
Deductions:
Operating expenses - see separate
schedule
Fixed assets purchased
Payment to fiscal agent:
Principal
Interest
Service charge
Payment on loan from Liquor
Dispensary Fund
Interest paid Liquor Dispensary
Fund
Increase in accounts receivable
Decrease in liabilities:
Balance at January 1, 1970:
Accounts payable
Due to other funds
Balance at December 31, 1970:
Accounts payable
Accrued payroll
Due to other funds
$25,000.00
23,750.00
51.00
$ 5,000.00
$184,317.43
$22,724.00
($ 3,203.06)
1,345.00 24,069.00
50,000.00
3,294::00
22.28
16,464.70 278,167.41
$274,964.35
$48,801.00
$130,514.00
5,154.00
8,575.00 13,575.00 62,376.00
327.80
$ 2,446.98
9,039.80 $11,486.78
$ 1,302.80
342.72
8,750.00 10,395.52 1,091.26 199,463.06
Balance at December 31, 1970 $'75,501.29
-39-
GOLF COURSE FUND
STATEMENT OF INCOME AND EXPENSE
VILLAGE OF EDINA
Year Ended December 31, 1970
Revenues:
Membership fees
Green fees:
Regular course
Short course
Rental of golf cars
Locker rental
Other
Operating expenses:
Administration:
Salaries and wages:
Manager
Pro
Rangers and starters
Cashier, clerical and other
Audit
Printing
Supplies
Insurance and alarm system
Retirement, insurance, office supplies, etc.
Travel and mileage
Other
Building - club house and pro shop:
Salaries and wages
Utilities:
Telephone
Water and sewer
Fuel
Light and power
Laundry
Rubbish hauling
Less amount charged'to grill
Insurance
Repairs - building and equipment
Supplies
Other
$ 934.00
$1,446.00
114.00
754.00
1,375.00
1,316.00
700.00
$5,705.00
1,712.00
3,993.00
208.00
3,300.00
1,032.00
206.00
$132,594.00
23,482.00
$ 8,580.00
2,400.00
4,829.00
11,616.00
$ 27,425.00
650.00
1,823.00
260.00
740.00
7,800.00
342.00
titiS nn
Jy, /uo.uu
9,673.00
$ 24,434.00
156,076.00
2,245.00
1,268.00
zP104,31/.43
-40-
GOLF COURSE FUND
STATEMENT OF INCOME AND EXPENSE ( Cont'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 plantings
Blacktop, sand and gravel
Repairs
Lumber
Equipment operation
U.S.G.A. visiting service
Supplies.
Other
Net income - operating departments -
see separate schedule
Income on investments
Interest expense:
On bonds
On loan from Liquor Dispensary Fund
Provision for depreciation
$10,080.00
37,732.00
$47,812.00.
177.00
207:00
4,338.00
410.00
5,564.00
4,628.00
273.00
953.00
542.00
12,000.00
300.00
3,907.00
25.00
$ 81,136.00 $130,514.00
$ 53,803.43
$ 22,724.00
3,294.00 26,018.00
INCOME BEFORE INTEREST AND DEPRECIATION $ 79,821.43
$ 23,801.00
8,575.00
INCOME BEFORE DEPRECIATION
NET INCOME
32,376.00
$ 47,445.43
5,715.00
$ 41,730.43
-41-
GOLF COURSE FUND
STATEMENT OF INCOME AND EXPENSE - OPERATING DEPARTMENTS
VILLAGE OF EDINA
Year Ended December 31, 1970
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
Expenses - prorated
Provision for depreciation
Other
$28,018.00
$ 5,330.00
2,174.00
1,255.00
345.00 9,104.00 $18,914.00
$31,746.00
12,883.00
y-r-r, J---
$17,984.00
4,204.00 22,188.00
$22,746.00
$ 3,633.00
11,429.00
$15,062.00
175.00
261.00
496.00
1,712.00
1,000.00
230.00 18,936.00 3,810.00
NET INCOME $22,724.00
-42-
GOLF COURSE FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December 31, 1970
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
l..
ALLOWANCE FOR DEPRECIATION
Golf course equipment
Club house equipment
Pro.-shop equipment.
Range equipment
Concession equipment
NET BALANCE
Balance
January 1,
1970
$ 726,414.02
$ 174,202.26
6,491.92
2,212.64
$ 182,906.82
15,018.15
9,627.32
$ 43,346.57
8,100.91
3,946.19
6,160.93
9,996.38
$, 71,550.98
$1,005,517.29
$ 18,341.37
3,441.38
.1,338.84
4,397.66
5,072.86
$ 32,592.11
$ 972,925.18
Balance
December 31,
Additions 1970
$ 726,414.02
$ 174,202.26
6,491.92
2,212.64
$ - $ 182,906.82
15,018.15
9,627.32
$4,835.00 $ 48,181.57
319.00 8,419.91
3,946.19
6,160.93
9,996.38
$5,154.00 $ 76,704.98
$5,154.00 $1,010,671.29
$4,576.41 $
22,917.78
744.43
43,185.81
394.63
1,733.47
344.59
4,742.25
999.64
6.072.50
$7,059.70 $ 39,651.81
$ 971,019.48
-43-
GOLF COURSE FUND
BONDS PAYABLE
VILLAGE OF EDINA
December 31, 1970
Annual maturities .and interest dates
Interest rate
Year
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
December 1
and June 1
2.8% to 3.5%
$ 35,000.00'
35,000.00
35,000.00
35,000.00
35,000.00
35,000.00
40,000.00
40,000.00
40,000.00
40,000.00
40,000.00
40,000.00
50,000.00
50,000.00
50,000.00
50,000.00
50,000.00
TOTAL $700,000.00
-44-
RECREATION CENTER FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1970
ASSETS
Cash:
On deposit
Working fund
Investments:
Federal National Mortgage Association
Accounts receivable
Due from other funds
Merchandise inventory - at cost
Prepaid insurance
Fixed assets - on the basis of cost:
Land improvements
Buildings
Furniture and equipment
Less allowances for depreciation
$42,110.67
13,111.11
LIABILITIES AND SURPLUS
Accounts payable
Accrued payroll
Accrued interest
Due to other funds:
Permanent Improvement Revolving Fund
Liquor Dispensary Fund
Other.
Deferred income
Bonds payable
Surplus:
Invested in fixed assets:
Direct
Contributed
Appropriated - for debt service
Unappropriated
$ 11,147.22
1,000.00
$ 39,160.06
795,252.13
28,999.56
$ 12,147.22
51,468.51
2,400.00
12,675.00
1,936.31
773.20
863,411.75
$944,811.99
$ 10,897.16
1,786.36
6,121.67
$10.0., 000.. 00
170., 000.00
35,607,.69 305,607.69
$324,412.88
12,632.00
495,000.00
$ 68,380.72
4,950.00 73,330.72
36,500.00
2.936.39
$944,811.99
-45-
j) I,
RECREATION CENTER FUND
STATEMENT OF SURPLUS i
i
VILLAGE OF EDINA
Year Ended December 31, 1970
Balance at January 1, 1970
Additions (deductions):
Net income for year
Fixed assets purchased
Transfers in (out) :
Payment of bonds
Payment on loan to Liquor Fund
Provision for depreciation
-46-
Appropriated
Contributed
Invested in
f Invested in For Debt
Unappropriated
Fixed Assets
Fixed - Assets Service
Total
$31,301.76
$36,070.15
$6,050.00 $36,5001.00
$ 78,620.15
2,845.20
i
( 4,789.00).
4,789.00
j-
4,789.00
( 25,000.00)
25,000.00
25,000.00
( 5,000.00)
5,000.00
j
5,000.00
3,578.43
( 2,478.43)
I ( 1,100.00) j
( 3,578.43)
Balance at December 31, 1970 $ 2,936.39
$68,380.72
$4,950.00 $36,500:00
i
$109,830.72
-46-
RECREATION CENTER FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1970
Balance (deficit) at January 1, 1970
($ 703.94)
Additions:
Excess of revenue over expenses -
see
separate schedule
$ 2,845.20
Add depreciation included therein
not
requiring cash
3,578.43
$ 6,423.63
Sale of investments
121,236.77
Increase in deferred income
2,951.00
Decrease in accounts receivable
1,841.50
Decrease in prepaid insurance
130.14
Increase in liabilities:
Balance at December 31, 1970:
Accounts payable
.$10,897.16
Accrued payroll
1,786.36
Accrued interest
6,121.67
Due to other funds
35,607.69
$ 54,412.88
Balance at January 1, 1970:
Accounts payable
$13,784.35
Accrued payroll
1,904.41
Accrued interest
5,113.32
Due to other funds
14,656.70
35,458.78
18,954.10 151,537.14
Deductions:
Advance to Park Construction Fund
Payment of bonds
Additions to fixed assets
Less advance to Park.C6nstructi6n
Fund
Payment on loan to Liquor
Dispensary Fund
Increase in due from other funds
Increase in inventory
$150,833.20
$;75,000.00
25,000.00
$304,870.03
275,000.00 29,870.03
5,000.00
4,675.00
140.95 139,685.98
Balance at December 31, 1970 $ 11,147.22
-47-
RECREATION CENTER FUND
STATEMENT OF INCOME AND EXPENSE
VILLAGE OF EDINA
Year Ended December 31, 1970
Revenues:
Season tickets
Daily fees
Spectator fees
Ice rental
Skate sharpening and repair
Other
Concession income
Less operating expense:
Cost/ of food sold
Salaries and wages
Operating expenses:
Salaries and wages:
Manager
Supervision and clerical
Ice guard
Cashier and ticket takers
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
Rubbish hauling
Renovation of parking lot
Other
Income on investments -
Interest expense:
On bonds
On loan from Liquor Dispensary Fund
Provision for depreciation
$ 23,447.00
7,945.00
20,901.00
89,058.00
8,052.00
369.20
$18,286.00
$ 6,267.00
2,692.00 8,959.00 9,327.00
$159,099.20
$12,213.00
5,516.00
1,955.00
6,718.00
9,469.00
29,198.00
720.00 $65,789.00
$16,455.00
13,192.00
9,480.00
5,502.00
3,331.00
449.00
.1,035.00
1,271.00
9,826.00
1,504.00
600.00
700.00
4,724.00
573.00 68.642.00 134,431.00
$ 24,668.20
11,210.00
INCOME BEFORE INTEREST AND DEPRECIATION $ 35,878.20
$19,255.00
10,200.00 292455.00
INCOME BEFORE DEPRECIATION $ 6,423.20
3.578.00
NET INCOME $ 2,845.20
-48-
RECREATION CENTER FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December 31, 1970
-49-
Balance
Balance
January 1,
December 31,
1970
Additions Deductions
1970
ASSETS
Land improvements
$ 32,185.72
$ 6,974.34
$ 39,160.06
Buildings
511,693.34
283,558.79
795,252.13
Furniture and equipment
27,773.77
14,336.90
42,110.67
$571,652.83
$304,870.03 $ -
$876,522.86
ALLOWANCE FOR DEPRECIATION
Furniture and equipment
9,532.68
$ 3,578.43 $ -
13,111.11
NET BALANCE
$562,120.15
$863,411.75
-49-
RECREATION CENTER FUND
BONDS PAYABLE
VILLAGE OF EDINA
December 31, 1970
Annual maturities and
interest dates
March 1, and
March 1 and
February 1
and
September l
September 1
August 1:
Interest rate
3% to
3%
5%
3.3%
Year
Series A
Series B
Series C
Total
1971
$ 10,000.00
$ 5,000.00
$10,000.00
$ 25,000.00
1972
10,000.00
5,000.00
10,000.00
25,000.00
1973
20,000.00
10,000.00
10,000.00
40,000.00
1974
20,000.00
10,000.00
10,000.00
40,000.00
197,5
20,000.00
10,000.00
10,000.00
40,000.00
1976
20,000.00
10,000.00
10,000.00
40,000.00
1977 -
20,000.00
10,000.00
10,000.00
40,000.00
1978
30,,000.00
159000.00
10,000.00
55,000.00
1979
30,000.00
15,000.00
10,000.00
55,000.00
1980
30,000.00
15,000.00
45,000.00
1981
30,000.00
15,000.00
45,000.00
1982;
30,000.00
15,000.00
45,000.00
TOTAL $270,000.00 $135,000.00 $90,000.00 $495,000.00
-50-
GUN RANGE FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31,, 1970
ASSETS
Fixed assets - at cost:
Land improvement
Building
LIABILITIES AND SURPLUS
Due to other funds
Surplus:
Invested in fixed assets:
Direct
Contributed:
Property donated by others.
Unappropriated (deficit)
A
$ 492.00
40,453.61
$40,945.61
$ 945.61
$ 945.61
40,000.00 40,945.61
( 945.61)
$40,945.61
-51-
GUN RANGE FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year Ended December 31, 1970
Balance at January 1, 1970
Unappro- Invested in Fixed Assets
priated Direct Contributed
Transfer:
Additions to fixed assets (deduction) ( 945.61) 945.61 40,000.00
Balance (deficit) at December 31, 1970 ($945.61) $945.61 $40,000.00
-52-
GUN RANGE FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December 31, 1970
Balance Balance
January 1, December 31,
1970 Additions Deductions 1970
ASSETS
Land'improvement $ - $ 492.00 $ 492.00
Building - 40,453.61 40,453.61
$ - $40,945.61 $ - $40,945.61
J.;
-53-
PARK SINKING FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1970
ASSETS
Cash:
Demand deposits
Time deposits
Investments:
United States Treasury notes - at cost
Receivables:
Due from Swimming Pool Fund
Taxes receivable - current and delinquent
Taxes receivable - deferred
Less allowance for delinquent and
uncollectible taxes
$ 4,333.66
90,000.00
$ 5,000.00
$ 94,333.66
25,000.00
$ 67,237.81
546,000.00
$613,237.81
32,787.81 580,450.00 585,450.00
$704,783.66
LIABILITIES, RESERVE AND SURPLUS
Amount payable during 1971:
Interest $ 19,375.00
Bonds 40,000.00
$ 59,375.00
Bonds payable $530,000.00
Less current portion — shown above 40,000.00 490,000.00
Reserve for future interest $114,740.00
Less current portion - shown above 19,375.00 95,365.00
Unappropriated surplus 60,043.66
$704,783.66
-54-
PARK SINKING FUND
STATEMENT OF SURPLUS
VILLAGE OF ED INA
Year Ended December 31, 1970
Balance at January 1, 1970
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
$51,862.65
$ 6,191.34
$20,755.00
10,625.00 31,380.00 37,571.34
$89,433.99
$ 8,845.08
$20,392.50
152.75 20,545.25 29,390.33
Balance at December 31, 1970 $60,043.66
-55-
PARK SINKING FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1970
Balance at January 1, 1970
Additions:
Tax settlements received from county:
March .1970
June 1970
November 1970
Sale of investments
Income on investments
Payment received on amount due from
other funds at December 31, 1969
Deductions:
Payment to fiscal agents:
Principal
Interest
Service charge
$ 1,263.49
$ 3,670.06
30,089.98
29,544_.88 $63,304.92
78,619.16
6,191.34
5,500.00 153,615.42
$1541878.91
$40,000.00
20,392.50
152.75 60,545.25
Balance at December 31, 1970 $ 94,333.66
-56-
PARK SINKING FUND
BOND AND INTEREST MATURITIES AND DEFERRED TAX LEVIES
VILLAGE OF EDINA
December 31, 1970
Annual maturities a'nd °interest dates
March 1, June 1,
September
l=and
December
1
Interest rates
2.7% to 3.9%
Excess
(Deficiency)
of Deferred
Levies over
Bond and
Interest
Deferred
Year
Bonds
Interest
Maturities
Levies
1972
$ 50,000.00
$17,810.00
($ 3,190.00)
$ 71,000.00
1973
50,000.00
16,040.00
( 5,960.00)
723P000.00
1974
50,000.00
14,230.00
( 7,770.00)
72,000..00
1975
50,000.00
12$80.00
( 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
501000.00
6,825.00
( 8,175.00)
65,000.00
1979
50,000.00
4,875.00
( 11,125.00)
66,000.00
1980
50,000.00
2,925.00
52,925.00
1981
50,000.00
975.00
50,975,00
TOTAL
$490,000.00
$95,365.00
$39,365.00
$546,000.00
-57-
Cash:
On deposit (deficit)
Due from other funds
Donations receivable
Fixed assets - at cost:
Land
Construction in progress
PARK CONSTRUCTION FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1970
ASSETS
LIABILITIES, RESERVE AND SURPLUS
Accounts payable
Due to other funds
Contracts payable for purchases of land
Reserve for construction (deficit)
Surplus invested in fixed assets
$665,231.05
379,828.22
($ 46,134.99)
40,563.64
36,000.00
1,045,059.27
$1,075,487.92
$ 10,735.48
72,181.06
30,439.22
( 52,487.89)
1,014,620.05
$1,075,487.92
-58-
PARK CONSTRUCTION - FUND
ANALYSIS OF RESERVE FOR CONSTRUCTION'
VILLAGE OF EDINA
Year Ended December 31, 1970
Balance at January 1, 1970
Additions:
Transfer from Liquor Dispensary Fund
Income on investments
Unexpended contributions transferred
from Park Fund
Other
Deductions:
Purchase of fixed assets
Contract payment for purchase of land
Transfer from Recreation Center Fund $75,000.00
Due from other funds 66,353.30 141,353.30 250,539.78
Balance (deficit) at December 31, 1970 ($ 52,487.89)
$130,000.00
5,161.81
14,210.34
1,350.00
$3765,193.08
15,700.00
$391,893.08
$ 47,329.74
150,722.15
$198,051.89
-59-
PARK CONSTRUCTION FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 312 1970.
Balance at January 1, 1970
Additions:
.Transfer from Liquor Dispensary Fund
Advance from Recreation Center Fund
Sale of investments
Donation for Brian Wippermann Gun
Safety Range
Income on investments
Increase in liabilities:
Balance at December 31, 1970
Accounts payable
Due to other funds
Contracts payable
Balance at January 1, 1970:
Accounts payable
Due to other funds
Contracts payable
Miscellaneous
Deductions:
Purchase of fixed assets
$ 10,735.48
72,181.06
- 30,439.22
$113,355.76
$32,234.69
22,388.53
46,139.22 100,762.44
$ 312.54
$130,000.00
75,000.00
101,640.42
4,000.00
5,161.81
12,593.32
1,350.00 329,745.55
$330,058.09
376,193.08
Balance (deficit) at December 31, 1970 ($ 46,134.99)
PARK CONSTRUCTION FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December 31, 1970
$11342,617.71 $376,193.08 $673,751.52 $1,045,059.27
(A) Transferred to Park Fund.
(B) Transferred to Recreation Center Fund.
(C) Transferred to Gun Range Fund.
-61-
Balance
Balance
January 1,
December 31,
1970
Additions
Transfers
1970
Land:
Garden Park
$
15,007.09
$ 15,007.09 $
-
Braemar Park
230,570.37
($ 1,000.00)
229,570.37
Cornelia School Park
121639.48
12,639.48
-
Pamela Park
2,440.00
23,440.00
Alden Park
23$06.60
23,506.60
-
Beard Park
26,715.00
26,715.00
-
Arden Park
1,250.00
1,250.00
-
Countryside Park
18,300.00
18,300.00
-
Lake Edina Park
30,330.00
30$30.00
-
York Park
7,369.21
7$69.21
-
Birchcrest Park
11,620.22
11,620.22
-
Division Park
16,908.88
225.81
16,908.88
225.81
Normandale Park
16$94.04
16,594.04
-
Walnut Ridge Park
3,466.84
3,466.84
-
Heights Park
23$37.13
23,537.13
-
Valley View School site
1,217.55
1,217.55
-
Creek Valley School Park
38,809.53
38,809.53
-
Mud Lake
395,614.60
26,212.67
421,827.27
Cornelia Park
85,126.65
8,616.55
85,126.65
8,616.55
Morton Arneson Park
2,551.05
2,551.05
$
9639574.24
$ 34,055.03
$332,398.22(A)$
665,231.05
Construction in progress:
Pamela Park
$
2223,015.43
$ 24,769.24
$
246,784.67
Braemar Park
33,590.28
1,384.00
34,974.28
Mud Lake
10,497.74
1,231.00
11,728.74
Historical site
11,692.98
1,334.99
13,027.97
Recreation Center
101,247.04
199,160.65
$300,407.69(B)
-
Weber Park
-
514.30
514.30
Beard Park
-
9,928.15
9,928.15
Heights Park
-
700.00
700.00
Walnut Ridge Park
-
411275.76
4,275.76
Cornelia School Park
-
341.84
341.84
Garden Park
-
182.00
182.00
Gun Range
-
40,945.61
40,945.61(C)
-
Braemar Sports Complex
-
45$51.71
45$ 51.71
Creek Valley School Park
-
5,638.05
5,638.05
Highlands Park
-
6,380.75
6,380.75
$
379,043.47
$342,138.05
$341,353.30 $ 379,828.22
$11342,617.71 $376,193.08 $673,751.52 $1,045,059.27
(A) Transferred to Park Fund.
(B) Transferred to Recreation Center Fund.
(C) Transferred to Gun Range Fund.
-61-
IMPROVEMENT FUNDS
COMBINED BALANCE SHEET
VILLAGE OF EDINA
December 31, 1970
ASSETS
Cash (deficit) :
Demand deposits
Time deposits
Investments
Receivables:
Special assessments:
Current - certified in 1970 -
collectible in 1971
Delinquent
Deferred
Assessments receivable - Village
share of projects:
Deferred
Less allowance for delinquent taxes
Due from other funds
Due from Construction Fund for advances
Due from Minnesota State -Aid Fund
Construction in progress:
Current
Deferred
Unallocated construction cost
Sundry receivable
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
Total
$ 8,446.18
635,000.00
$ 643,446.18
4,012,985.80
$ 1,842,338.28
304,875.81
7,975,895.95
Eliminations
237,521.46
$10,360,631.50 $ -
807,863.60
$ 9,552,767.90 $ -
255,851.72
- 12453,113.79
675,000.00
2,356,704.83
376,257.46
81,084.96
13,099.20
$17,967,198.05 $1,453,113.79
$ 6,269.06
54,376.16
9,972.15
51,890.12
376,257.46
13,655,000.00
984,363.02
104,096.36
40,617.40
2.684.356.32
$17,967,198.05
$ 48,384.44
376,257.46
$1,453,113.79 1,453,113.79
984,363.02
40,617.40
$1,453,113.79 $2,902,736.11
$ 67.40 $ 93.40
3,306.17
$ 6,269.06
$ 450.00 53,926.16
9,811.35
199.51
160,000.00 45,000.00 10,275,000.00 $675,000.00 $2,500,000.00
7,862.91 12,673.60 83,559.85
$2,564.40 350,226.48 55,858.93 11,930.72 2,219,127.52 251.18 44,397.09
$2,564.40 $361,462.96 $215,952.33 $70,054.32 $12,647,893.45 $675,251.18 $2,544,397.09
-62-
Advance
Joint
Permanent
Sanitary
Improvement
Municipal
Funding
Sewer
Improvement
Sewer
Southdale
Bond
State -Aid
Highway
Construction
No. 1
Revolving
No. 53
Improvement
Redemption
Street Bonds
Bonds
$ 51,455.51
$2,564.40
$ 42,692.32
($ 2,112.16)
$ 4,593.90
($ 70,329.68)
$ 251.18
($
20,669.29)
35,000.00
600,000.00
$ 51,455.51
$2,564.40
$ 42,692.32
($ 2,112.16)
$39,593.90
$ 529,670.32
$ 251.18
($
20,669.29)
115,000.00
137,071.88
30,460.42
1,165,387.12
2,565,066.38
$ 3,969.10
$ 21,794.65
$ 1,816,574.53
32,549.51
5,301.42
267,024.88
37,903.75
7,937,992.20
25,767.51
211,753.95
$ -
$ -
$ 36,518.61
T90,767.33
$ -
$10,233,345.56
$ -
$
-
32,747.97
9,774.72
765,340.91
$ -
$ -
$ 3,770.64
$ 80,992.61
$ -
$ 9,468,004.65
$ -
$
-
110,399.33
100,000.00
45,452.39
100,000.00
1,353,113.79
675,000.00
2,356,704.83
376,257.46
7,918.98
73,165.98
13,099.20
$2,902,736.11
$2,564.40
$361,462.96
$215,952.33
$70,054.32
$12,647,893.45
$675,251.18
$2,544,397.09
$ 48,384.44
376,257.46
$1,453,113.79 1,453,113.79
984,363.02
40,617.40
$1,453,113.79 $2,902,736.11
$ 67.40 $ 93.40
3,306.17
$ 6,269.06
$ 450.00 53,926.16
9,811.35
199.51
160,000.00 45,000.00 10,275,000.00 $675,000.00 $2,500,000.00
7,862.91 12,673.60 83,559.85
$2,564.40 350,226.48 55,858.93 11,930.72 2,219,127.52 251.18 44,397.09
$2,564.40 $361,462.96 $215,952.33 $70,054.32 $12,647,893.45 $675,251.18 $2,544,397.09
-62-
IMPROVEMENT FUNDS
STATEMENT OF SURPLUS - UNAPPROPRIATED
VILLAGE OF EDINA
Year Ended December 31, 1970
-63-
Advance
Joint
Permanent
Sanitary
Improvement
Municipal
Funding
Sewer
Improvement
Sewer
Southdale
Bond
State -Aid
Highway
Total
No. 1
Revolving
No. 53
Improvement
Redemption
Street Bonds
Bonds
Balance at January 1, 1970
$2,479,252.82
$2,564.40
$342,847.27
$61,683.12
$ 8,222.14
$2,063,684.71
$251.18
$ -
Additions:
Interest spread on assessments for collection in 1971
$ 492,714.04
$ 189.01
$ 2,842.78
$ 489,682.25
Income on investments
285,195.94
8,323.83
10,364.72
$ 5,158.33
110,371.30
$150,977.76
Capitalized interest
78,033.68
785033.68
Received from Minnesota State -Aid Street Fund
48,825.00
48,825.00
$ 904,768.66
$ -
$ 8,512.84
$13,207.50
$ 5,158.33
$ 678,087.23
$ -
$199,802.76
Deductions:
Interest on bonds
$ 651,721.92
$ 6,510.00
$ 1,425.00
$ 490,236.57
$153,550.35
Bank service charges
3,585.09
120.00
24.75
3,095.02
345.32
Cost of bond sale
3,510.00
2,000.00
15510.00
Cancellations and adjustments
12,810.41
12,806.57
3.84
$ 671,627.42
$ -
$ -
$19,436.57
$ 1,449.75
$ 495,335.43
$ -
$155,405.67
$21712,394.06
$25564.40
$351,360.11
$55,454.05
$11,930.72
$2,246,436.51
$251.18
$ 445397.09
Transfers - add - (deduct)-.
Allowance for delinquent taxes
( 28,037.74)
( 1,133.63)
404.88
( 27,308.99)
Balance at December 31, 1970
$2,684,356.32
$2,564.40
$350,226.48
$55,858.93
$11,930.72
$25219,127.52
$251.18
$ 44,397.09
-63-
IMPROVEMENT FUNDS
COMBINED BALANCE SHEET
VILLAGE OF EDINA
December 31, 1970
ASSETS
Cash (deficit):
Demand deposits
Time deposits
Investments
Receivables:
Special assessments:
Current - certified in 1970 -
collectible in 1971
Delinquent
Deferred
Assessments receivable - Village
share of projects:
Deferred
Less allowance for delinquent taxes
Due from other funds
Due from Construction Fund for advances
Due from Minnesota State -Aid Fund
Construction in progress:
Current
Deferred
Unallocated construction cost
Sundry receivable
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:
$ 19842,338.28
304,875.81
7,975,895.95
237,521.46
$10,360,631.50
807.863.60
$ 9,552,767.90
255,851.72
675,000.00
2,356,704.83;
376,257.46
81,084.96
13,099.20
1,453,113.79
$ -
110,399.33
2,356,704.83
376,257.46
7,918.98
$17,967,198.05 $1,453,113.79 $2,902,736.11
$ 6,269.06
54,376.16
9,972.15
51,890.12
Advance
376,257.46
Joint
Permanent
Sanitary
131655,000.00
Improvement
Municipal
Funding
104,096.36
Sewer
Improvement
Sewer
Southdale
Bond
State -Aid
Highway
Total Eliminations
Construction No. 1
Revolving
No. 53
Improvement
Redemption
Street Bonds
Bonds
$ 8,446.18
$ 51,455.51 $2,564.40
$ 42,692.32
($ 2,112.16)
$ 4,593.90
($ 70,329.68)
$ 251.18
($ 20,669.29)
635,000.00
35,000.0.0
600,000.00
$ 643,446.18 $ -
$ 51,455.51 $2,564.40.
$ 42,692.32
($ 23,112.16)
$39,593.90
$ 529,670.32
$ 251.18
($ 20,669.29)
4,012,985.80
i
115,000.00
137,071.88
30,460.42
I
1,165,387.12
2,565,066.38
$ 19842,338.28
304,875.81
7,975,895.95
237,521.46
$10,360,631.50
807.863.60
$ 9,552,767.90
255,851.72
675,000.00
2,356,704.83;
376,257.46
81,084.96
13,099.20
1,453,113.79
$ -
110,399.33
2,356,704.83
376,257.46
7,918.98
$17,967,198.05 $1,453,113.79 $2,902,736.11
$ 6,269.06
54,376.16
9,972.15
51,890.12
$ 48,384.44
376,257.46
3769257.46
-
$13,453,113.79 1,,453,113.79
131655,000.00
9184,363.02
9849363.02
104,096.36
40,617.40
40,617.40
2,684,356.32
I
I'
$ -
$2,564.40
I'
i
$ 3,969.10
32,549.51
$ 36,518.61
32.747.97
$ 3,770.64
100,000.00
100,000.00
$ 21,794.65
5,301.42
37,903.75
25,767.51
$ 90,767.33
9,774.72
$ 80,992.61
$361,462.96 $215,952.33
$ 67.40 $ 93.40
3,306.17
7,862.91
160,000.00
i
$2,564.40 350,226.48 55,858.93
$17,967,198.05 $15,453,113.79 $2,902,736.11 $2,564.40 $361,462.96 $215,952.33
J
$ 1,816,574.53
267,024.88
7,937,992.20
I
211,753.95
$ - $10,233,345.56 $ - $ -
765,340.91
$ $ 92468,004.65 $ - $ -
45,452.39
1,353,113.79'
675,000.00
73,165.98
13,099.20
$70;054.32 $12,6471893.45 $675,251.18 $2,544,397.09
�! $ 6,269.06
$ 450.00 53,926.16
9,811.35
{ 199.51
45,000.00 10,275,000.00 $675,000.00 $2,500,000.00
12,673.60 83,559.85
11,930.72 2,219,127.52 251.18 442397.09
$70,054.32 $12,6473893.45 $675,251.18 $2,544,397.09
-62-
IMPROVEMENT ;FUNDS
ANALYSIS OF CHANGE"IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1970
Balance at January 1, 1970.
Additions:
Collections on special assessments:
By County Auditor
By Village
Proceeds from sale of bonds
Sale of investments
Advance from Improvement Bond Redemption Fund
Advance from Waterworks Fund
Payment received on connection charges
Construction deposits received
Payments received from Municipal State -Aid Street Fund
Advance from Municipal State -Aid Street Fund
Collection received on accounts at December 31, 1969
Other
Deductions:
Construction costs charged to others:
General Fund
Permanent Improvement Revolving.Fund
Park Fund
Improvement Bond Redemption Fund
Park Construction Fund
State of Minnesota Highway Department State -Aid Division
Other
Less payments received
Decrease in construction in progress:
Balance at January 1, 1970:
Current construction $2,656,905.48
Deferred construction 362,591.35
Unallocated 16,619.20
Balance at December 31,
1970:
Current construction $2,356,704.83
Deferred construction 376,257.46
Unallocated 7,918.98
Increase in contracts
payable:
Balance at December 31,
1970
Balance at January 1,
1970
Less amount due General
Fund for construction,-.costs
(Balance Carried Forward -)
$ 3762257.46
362,591.35
$3,036,116.03
2,740,881.27
$ 295,234.76
$ 48,505.83
3,306.17
1,017.31
19556,881.48
57,370.51
392,596.91
11.676.87
$2,07131355.08
11.676.87
$231059,678.21
13,666.11 308,900.87
$1,750,777.34
i
j
i
I
j
Permanent
Joint Improve- Sanitary Southdale Improvement
Sewer ment Sewer Improve Bond
Combined Construction No. 1 Revolving No. 53 ment Redemption
$ 205,671.70 $ 86,967.10 $2,564.40 $ 175.09 $
i
$ 1,703,321.98
397,280.13
3,1763,918.40
4,171,992.72 $ :163,363.85
250,000.001; 250,000.00
4003000.00 400,000.00
18 153 16
Municipal
Advance
State -Aid
Funding
Street
Highway
Bonds
Bonds
471.11 $ 1;035.32 $ 114,207.50 $
251.18 $ -
$ 4,153.37 $22,204.32 $1,676,964.29
412.72 19477.69 395,389.72
b $67511000.00 $2,501,.918.40
42,595.09 205,364.72 $55;158.33 1,864,532.97 2,025,977.76
18,153.16
% 30,741.37 " 26.,500.00 4,241.37
295,755.32 246,930.32 48,825.00
675,000.00 .675,000.00
13331583.30 .133,583.3.0
20.38 20.38
$11,252,766.76 $1,895,397.85 $ - $47,161.18 $44,046.73 $55;158.33 $3,959,281.51 $675,000.00 $4,576,721.16
48,384.44 1,702,392.90 1,.702,392.90
$9,756,045.56 $ 279,972.05 $2,564.40 "$47,336.27 $4451517.84 $56,193.65 $4,073,489.01 $675,251.18 $425763,721.16
-64-
IMPROVEMENT FUNDS
ANALYSIS OF CHANGE IN CASH BALANCE (Cont'd)
(Balance Brought Forward)
Deductions (cont'd):
Payment to other funds accrued at December 31, 1969
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
Return of construction deposits
Refunds and adjustments
Balance (deficit) at December 31, 1970
Combined
Permanent Municipal Advance
Joint Improve- Sanitary. Soui thdale Improvement State -Aid Funding
Sewer ment Sewer Improve- Bond Street Highway
r- nstruction No 1 Revolving No. 53 rient Redemption Bonds Bonds
$ 9,756,045.56 $
279,972.05 $2,564.40 $47,336.27 $44,517.84 $56,193.65 $4,073,489.01 $675,251.18 $4,576,721.16
$ 228,810.55 $ 224,179.25
5,479,095.20
1,297.70
925,000.00
1,800,000.00
663,897.50
3,585.09
3 510 00
$ 4,631.30
`I
$40,000.00 $153;000.00
6,510.00 1;575.00
120.00 , 24.75
$1,039,028.82
1,297.70
250,000.00 $6751000.00
1,745,000.00
500,343.75
3,095.02
2 000.00
$4,440,066.38
155,468.75
345.32
1,510.00
4,337.29 4,337.29
3,066.05 12.65 3,053.40
$ 9,112,599.38 $ 228,516.54 $ - $ 4,643.95•$46,630.00 $16,599.75_43,543,818.69 $675,000.00 $4,597,390.45
$ 643;446.18 $ 511455.51 $2,564.40 $ 42,692.32($ 2,112.16)$39;593.90 $ 529,670.32 $ 251.18($ 20,669.29)
-65-
IMPROVEMENT FUNDS
i
i
f
BONDS PAYABLE
VILLAGE OF EDINA
I
December 31, 1970
Advance
Sanitary
Improvement
Municipal
Funding
Sewer
Southdale
Bond,
State -Aid
Highway
Year
Total
No. 53
Improvement
Redemption
Street Bonds
Bonds
Annual maturities and interest dates
January 1
March 1
March 1, May 1
June 1 and
January 1
and
and
June 1,
December 1
and
July 1
September 1
September 1,
July 1
November -1 and
Decembe'r:-- l
Interest rates
3.1%
3%
2.7% to
6%
5.40% to
5.70%
5.70%
1971
$ 1,560,000.00
$15,000.00
$ 1$45,000.00
1972
14825,000.00
$ 40,000.00
159000.00
1,545,000.00
$225,000.00
1973
111825,000.00
40,000.00
15,000.00
1,545,000.00
225,000.00
1974
2,135,000.00
40,000.00.
1,245,000.00
225,000.00
$ 625,000.00
1975
11770,000.00
40,000.00
1,105,000.00
625,000.00
1976
1,730,000.00
1,105,000.00
625,000.00
1977
1,380,000.00
755,000.00
6259000.00
1978
715,000.00
7159000.00
1979
715,000.00
715,000.00
TOTAL
$13,655;000.00
$160,000.00
$45,000.00
$10,275,000.00
$675,000.00
$2,500,000.00
M.
ASSETS
CURRENT ASSETS
Cash:
Demand deposits
Time deposits
Appropriated funds
Investments - at cost and accrued interest
which approximates market:
Federal Land Bank bonds
United States Treasury notes
Federal National Mortgage Association
Certificates
Less amount segregated and shown below
Accounts receivable:
From customers
Due from other funds
Inventories:
Meters - at cost
Supplies - estimated
Advance to Construction Fund
Prepaid insurance
OTHER ASSETS
Segregated investments - reserve for debt
retirement
FIXED ASSETS - Note A
Land
Land improvements
Distribution system
Buildings and equipment
Less allowances for depreciation
Construction in progress
WATERWORKS.
BALANCE
VILLAGE
December
$ 5,226.02
75,000.00 $ 80,226.02
10,316.25
$ 90,542.27
$ 101,057.29
25,172.33
127,513.22
$ 253,742.84
72,455.00
181,287.84
$ 95,438.85
16,722.31
112,161.16
$ 15,844.58
1,750.00
1731594.58
400,000.00
795.,85
TOTAL CURRENT ASSETS
$ 802,381.70
$ 16,667.25
5,872,889.22
1,890,104.57
$7,779,661.04
1, 890, 560.04
$ 27,556.38
5,889,101.00
50,440.32
72,455.00
5,967,097.70
$6,841,934.40
FUND
SHEET
OF EDINA
31, 1970
.LIABILITIES AND SURPLUS
CURRENT LIABILITIES
Accounts payable $ 12,572.57
Salaries and wages 1,726.72
Interest 3,020.83
$ 17,320.12
Current maturities of bonds payable 55,000.00
TOTAL CURRENT LIABILITIES $ 72,320.12
LONG -TERM DEBT
Bonds payable - Note B
$ 530,000.00
Less current maturities shown above
55,000.00 475,000.00
SURPLUS
Invested in fixed assets:
Direct
$ 830,525.05
Revaluation of fixed assets - Note A
23,921.62
Contributed by special assessments -
Note A
4,571,354.92
Contributed by General Fund
11,296.11
$5,437,097.70
Appropriated for debt service
82,771.25•
Unappropriated
.774,745.33 6,294,614.28
$6,841,934.40
See notes to balance sheet.
1
-67-
WATERWORKS FUND
NOTES TO BALANCE SHEET
VILLAGE OF EDINA
December 31, 1970
Note A = The original utility purchased in 1947 is carried at amounts based on appraisal at
time of acquisition. Subsequent purchases are carried on the basis of cost. Water -
mains for which the benefited property owners have been assessed are carried on
the basis of construction cost with contra- credit to,surplus contributed by special
assessments. Each.of the aforementioned amounts has been reduced by the depreci-
ation 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:
1959 Issue 1963 Issue Total
Annual maturities and
interest dates March 1 and June 1 and
September 1 December 1
Interest rates
3.40% and
3.00 %,
3.507.
3.20% and
3.30%
Annual amount of
maturities:
1971
$ 35,000.00
$ 20,000.00
$ 55,000.00
1972
35,000.00
20,000.00
55,000.00
1973
35,000.00
20,000.00
55,000.00
1974
35,000.00
20,000:00
55,000.00
1975
40,000.00
20,000.00
60,000.00 .
1976
50,000.00
50,000.00
1977
50,000.00
50,000:00
1978
503-000.00
50,000.00
1979
50,000.00
50,000.00
1980
503,000.00
50,000.00
$180,000.00
$350,000.00
$530,000.00
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.
Ra
WATERWORKS FUND
STATEMENT OF - SURPLUS
VILLAGE OF EDINA
Year Ended December 31, 1970
Total Unappropriated
Balance at January 1, 1970 $6,013,209.44 $578,029.64
Additions:
Watermains contributed by special
assessments 180,606.56
Net income for year 100,798.28 100,798.28
$6,294,614.28 $678,827.92
Transfers in (out):
Provision for depreciation - 193,233.57
Bonds retired - (- 45,000.00)
Additions to fixed assets ( 53,608.66)
Decrease in appropriation of funds
for reserve for debt retirement - 1,292.50
Balance at December. 31, 1970 $6,294,614.28 $774,745.33
Invested In
I
Fixed Assets
Appropriated
Contributed
Contributed
Revaluation
for Debt
by Special
by
of Fixed
Service.:
Direct
Assessments
General Fund
Assets
$84,063.75
$814,380.51
$4,5002508.22
$11,623.72
$24,603.60
180,606.56
$841063.75
$814,380.51
$4,681,114.78,
$11,623.72
$24,603.60
( '82,464.12)
( 109,759.86)
( 327.61)
( 681.98)
45,000.00
53,608.66
( 1,292.50)
$82,771.25
'f
$830,525.05
$4,571,354.92
$11,296.11
i
$23,921.62
I
-69-
WATERWORKS FUND
STATEMENT OF INCOME AND EXPENSE
VILLAGE OF EDINA
Per Cent to
Year Ended December 31 Increase Gross Income
1970 1969 Decrease* 1970 1969
Number of meters in use:
At end of year 9,431 9,163 268
At beginning of year 9,163 8,698 465
Income:
Sale of meters
$ 19,492.00
$ 34,942.00
$15,450.00*
Less cost of meters sold
16,570.00
28,435.00
11,865.00*
$ 2,922.00
$ 6,507.00
$ 3,585.00*
Water sales
469,071.00
503,140.00
34,069.00*
Penalties
7,949.00
7,657.00
292.00
Water connection permits
1,412.00
2,255.00
843.00*
Tapping fees
128.00
350.00
222.00*
Use of hydrants
16,722.00
17,010.00
288.00*
Miscellaneous
1,227.28
1,339.45
112.17*
$499,431.28
$538,258.45
$38,827.17*
100.00% 100.00%
Expenses:
Pumping:
Labor
$ 10,682.00
$ 8,425.00
$ 2,257.00
Power and light
50,814.00
51,174.00
360.00*
Supplies and repairs
2,144.00
6,019.00
3,875.00*
Buildings:
Labor
2,830.00
1$25.00
1,305.00
Fuel
2,698.00
2,520.00
178.00
Supplies
430.00
693.00
263.00*
Repairs
256.00
79.00
177.00
Insurance
870.00
699.00
171.00
Water purchased
20,263.00
20$48.00
285.00*
Provision for depreciation
332193.00
33,097.00
96.00
$1242180.00
$124,779.00
$ 599.00*
24.86% 23.18%
Distribution:
Labor
$ 14,936.00
$ 13,066.00
$ 1,870.00
Materials and supplies
6$55.00
9,977.00
3,622.00*
Operation -of - meters:
Labor
112421.00
11,306.00
115.00
Sup.plies..and expenses
3,025.00
2,786.00
239.00
Provision; for- .dep.reciation
115,643.00
i09,630.00
62013.00
Repairs
5,585.00
8,019.00
2,434.00*
Hydrant. replacement
-
12,818.00
12,818.00*
$156,965.00
$167,602.00
$10,637.00*
31.44 31.14
Tanks, towers and reservoir:
Labor
$ 1,370.00
$ 619.00
$ 751.00
Power_,and..lease.:lines
1,268.00
14736.00
468.00*
Supplies and expenses
201.00
4,482.00
4,281.00*
Provision for depreciation
222674.00
22,674.00
-
Insurance
.757.00
659.00
98.00
$ 26,270.00
$ 30,170.00
$ 3,900.00*
5.26 5.60
-70-
WATERWORKS FUND
STATEMENT OF INCOME AND EXPENSE ( Cont'd)
Expenses (cont'd):
.Water treatment:
Labor
Supplies and expenses
Provision for depreciation
Vehicle operations:
Allocated from equipment
pool
Provision for depreciation
Administrative and general:
Salaries:
Superintendent
Clerical
Meter reading
Meter reading supplies
Office supplies, postage,
telephone, hospitalization,
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.
$1003,798.28 $11731632.45 $16,834.17* 20.18% 21.86%
$193,233.00 $186,947.00 $ 6,286.00
-71-
Per Cent to
Year Ended
December 31
Increase
Gross Income
1970
1969
Decrease*
1970 1969
$ 4,928.00
$
3,362.00
$
1,566.00
19,064.00
11,963.00
7,101.00
19,080.00
19,312.00
232.00*
$43,07.2.00
$
34,637.00
$
8,435.00
8.62% 6.44%
$ 6,960.00
$
6,960.00
$
-
1,698.00
1,204.00
494.00
$ 8,658.00
$
8,164.00
$
494.00
1.73 1.52
$ 12,000.00
$
11,352.00
$
648.00
5,590.00
4,056.00
1,534.00
11,931.00
11,057.00
874.00
219.00
275.00
.56.00*
11,400.00
12,360.00
960.00*
3,600.00
3,360.00
240.00
945.00
13,030.00
85.00*
3,754.00
8,022.00
4,268.00*
1,313.00
961.00
352.00
780.00
720.00
60..00
$ 51,532.00
$
53,193.00
$
1,661.00*
10.32 9.88
$410,677.00
$418,545.00
$
7,868.00*
82.23% 77.76%
T88,754.28
$119,713.45
$30,959.17*
17.77% 22.24%
30,256.00
17,413.00
12,843.00
6.06 3.24
$119,010.28
$1373,126.45
18,116.17*
23.83% 25.48%
$ 183,135.00
$
19,408.00
$
1,273.00* .
77.00
86.00
9.00*
$ 18,212.00
$
19,494.00
$
1,282.00*
3.65 3.62
$1003,798.28 $11731632.45 $16,834.17* 20.18% 21.86%
$193,233.00 $186,947.00 $ 6,286.00
-71-
WATERWORKS FUND.
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31,1970
Balance at January 1, 1970
$ 15,795.54
Additions:
Collections on accounts receivable
$490,704.28
Collections on amounts due from other funds
17,035.44
Sale of water meters
19,492.00
.Sale of investments
285,365.02
Sundry sales. and services
3,302.95
Income on investments
30,256.00
Decrease in prepaid insurance
35.65
846,191.34
$861,986.88
Deductions:
Payment to fiscal agent:
Principal
$ 45,000.00
Interest
18,495.00
Service charge
77.00
$ 63,572.00
Meters purchased
2,695.01
Advance to Construction Fund
400,000.00
Additions to fixed assets
$234,215.22
Less amount contributed
180,606.56
53,608.66
Operating expenses
$410,677.00
Less provision for depreciation
193,233.00
217,444.00
Payment of sales tax
13,422.00
Refunds
95.30
Decrease in amounts payable:
Balance at January 1, 1970:
Trade accounts
$ 20,259.98
Accrued payroll
1,183.32
Due to other funds
13,463.63
$ 34,906.93
Balance -at December 31, 1970:
Trade accounts $12,572.57
Accrued payroll 1,726.72
14,299.29
20,:607.64
771,444.61
Balance.at December 31, 1970
$ 90,542.27
Summary:
Sinking Fund
$ 10,316.25
Operating Fund
80,226.02
$ 90,542.27
-72-
WATERWORKS FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December 31, 1970
Land
Land improvements
Distribution system:
Purchased
Contributed by special assessments
Contributed by General Fund
Buildings and equipment:
Pumphouses
Wells
Pumps and piping
Tanks, towers and reservior
Office equipment
Miscellaneous equipment,
Water treatment equipment
Automobiles and trucks
Storm sewer
Tools .
Construction in progress
11,918.74
A s
s __e t• s
Balance
867.79
Balance
January 1,
444,140.66
December 31,
1970
Additions
Deductions 1970
$ 27,556.38
2,946.12
$ 27,556.38
15,498.59.
$ 1,168.66
162667.25
$ 277,769.71
i
$ 5,555.38
$ 277,769.71
5,3982132.29
$180,606.56
5,578,738.85
16,380.66
l 327.61
16,380.66
$5,692,282.66
$1803606.56
$ - $5,872,889.22
$ 3192636.82
$ 12,785.46
$ 3192636.82
314,359.24
12,574.57
314,359.24
1622175.28
7,189.51
162,175.28
566,867.16
22,674.06
566,867.16
3,453.05
77.32
3,453.05
11,918.74
I
Allowance for Depreciation
11,918.74
Balance
867.79
Balance
January 1,
444,140.66
December 31,
1970
Additions Deductions
1970
9,884.93
2,946.12
1,698.02
5,516.38
$ 643.88
6,160.26
$ 117,963.86
i
$ 5,555.38
$ 123,519.24
897,624.07
109,759.86
1,007,383.93
5,350.94
l 327.61
5,678.55
$1,020,938.87
$115,642.85 $ -
$1,136,581.72
$ 879500.89
$ 12,785.46
$ 100,286.35
108,379.78
12,574.57
120,95.4.35
75,372.00
7,189.51
82;561.51
267,103.65
22,674.06
289.,777.71
3,155.74
77.32
3.,233.06
11,918.74
11,918.74
8,783.96
867.79
444,140.66 .
444,140.66
109,903.53
' 17,933.74
7,885.25
$ 1,999.68
9,884.93
2,946.12
1,698.02
57,318.69
57,318.69
7,725.55
1,146.37
350.00
350.00
-
$1,888,104.89 _
$ 1,999.68 $ -
$1,890,104.57
$ 670,871.22
$ 76,946.84
-
50,440.32
50,440.32
-
6
TOTAL .$7,623,442.52
$234,215.22 $ -
$7,857,657.74
$1,697,326.47
I
$193,233.57
it
I.
I
i
I.
N
I
l
9,651.75
127,837.27
4,644.14
8,871.92
$ .747_818.06
$ - $1,890,560.04
1 I
-73-
Cash:
Demand deposits
Time deposits
Receivables:
From customers
Assessments receivable
Prepaid insurance
Fixed assets - on the basis of cost:
Land improvements
Furniture and fixtures
Trucks
Equipment
Less allowances for depreciation
Current liabilities:
Trade accounts payable
Accrued payroll
Surplus:
Invested in fixed assets
Unappropriated (deficit)
SEWER RENTAL FUND
BALANCE SHEET
VILLAGE OF EDINA
December 31, 1970
ASSETS
LIABILITIES AND SURPLUS
$ 6,703.67
60,000.00
$26,351.89
383.74
$ 66,703.67
26,735.63
38.50
TOTAL CURRENT ASSETS $ 93,477.80
$ 4;868.35
2,161.69
8,883.68
27,288.90
$43,202.62
30,064.16 13,138.46
$106,616.26
TOTAL CURRENT LIABILITIES
$2363284.21
1,199.54
$237,483.75
13,138.46
( 144,005.95)
$106,616.26
-74-
SEWER RENTAL FUND
STATEMENT OF SURPLUS (DEFICIT)
VILLAGE OF EDINA
Year Ended December 31, 1970
Balance (deficit) at January 1, 1970
Deduction:
Net loss for year
Transfers in (out):
Additions to fixed assets
Provision for depreciation
Disposal of fixed assets
Balance (deficit) at December 31, 1970
35,610.03
($144,444.58)
($ 3,151.78)
3,245.01
345.40
$ 438.63
$13,577.09
$ 3,151.78
( 3,245.01)
( 345.40)
($ 438.63)
($144,005.95) $13,138.46
-75-
Surplus
Unappropriated
Invested
Surplus
in Fixed
(Deficit)
Assets
($108,834.55)
$13,577.09
35,610.03
($144,444.58)
($ 3,151.78)
3,245.01
345.40
$ 438.63
$13,577.09
$ 3,151.78
( 3,245.01)
( 345.40)
($ 438.63)
($144,005.95) $13,138.46
-75-
SEWER RENTAL FUND
STATEMENT OF INCOME AND EXPENSE
VILLAGE OF EDINA
Year Ended December 31
1970 1969
Operating income:
Service charges and penalties $154,867.00 $149,610.00
Expenses:
Operating:
Sewer maintenance and
treatment
Labor
Supplies
Repairs
Water
Power
Provision for depreciation
Other
Vehicle operation:
Allocated from equipment
pool
Provision for depreciation
Administrative and general:
Clerical and supervision
Audit
Supplies, telephone, postage
and retirement
Building rental
Provision for depreciation
Professional services
TOTAL EXPENSES
OPERATING LOSS
Other income:
Settlement with City of
Minneapolis for prior years'
rentals
Income on investments
Miscellaneous
NET LOSS
Depreciation, computed by the
straight line method charged
to operations
Per Cent to
Increase Operating Income
Decrease* 1970 1969
$ 5,257.00 100.0% 100.0%
$143,521.00
$122,440.00
$21,081.00
$59,791.00
46,108.00
40,386.00
5,722.00
1,519.00
12,641.00,
8,049.00
4,592.00
297.19*
18,426.00
12,567.00
53,859.00
$61,012.81
200.00
200.00
-
$26,887.81*
7,440.00
6,832.00
608.00
$ 262.00
1,430.00
1,380.00
50.00
603.00
516.00
87.00
$230,369.00
$192,370.00
$37,999.00
148.7% 128.6%
$ 4,260.00
$ 4,860.00
$ 600.00*
1,738.00
1,486.00
252.00
$ 5,998.00
$ 6,346.00
$ 348.00*
3.9 4.2
$ 6,812.00
$ 5,244.00
$ 1,568.00
810.00
550.00
260.00
8,361.00
8,723.00
362.00*
720.00
660.00
60.00
77.00
117.00
40.00*
2,108.00
1,863.00
245.00
$ 18,888.00
$ 17,157.00
$ 1,731.00
12.2 11.5
$255,255.00
$215,873.00
$39,382.00
164.8% 144.3%
$100,388.00
$ 66,263.00
$34,125.00
64.8% 44.3%
$ 59,791.00
$
-
$59,791.00
3,621.00
2,102.00
1,519.00
1,365.97
1,663.16
297.19*
$ 64,777.97
$
3,765.16
$61,012.81
$ 35,610.03
$
62,497.84
$26,887.81*
$ 3,245.00
$
2,983.00
$ 262.00
41.8 2.5
23.0% 41.8%
-76-
.SEWER RENTAL FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1970
Balance (deficit) at January 1, 1970
Additions
Collections on accounts receivable
Sale of investments
Tax settlements received
Settlement with City of Minneapolis
for sewage treatment in prior years
Income on investments
Payment of amount due from other
funds
Increase in liabilities:
Balance at December 31, 1970:
Trade accounts
Accrued payroll
Balance at January 1, 1970:
Trade accounts $199,877.31
Accrued payroll 735.02
Other
Deductions:
Expenses for the year
Less provision for depreciation
not requiring cash
Purchase of fixed assets
Other
$236,284.21
1,199.54
$237,483.75
200,612.33
($ 6,749.60)
$154,568.28
70,185.60
200.57
59,791.00
3,621.00
1,728.01
36,871.42
1,710.98 328,676.86.
$321,927.26
$255,255.00
3,245.00 $252,010.00
3,151.78
61.81 255,223.59.
Balance at December 31, 1970 $ 66,703.67
-77
SEWER RENTAL FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December 31, 1970
Balance Balance
January 1, December 31,
1970 Additions Deductions 1970
ASSETS
Land improvements $ 43,653.25 $ 215.10 $ 4,868.35
Furniture and fixtures 2,161.69 2,161.69
Trucks . 8,491.00 2,119.68 $1,727.00 8,883.68
Equipment 26,471.90 817.00 27,288.90
$41,777.84 $3,151.78 $1,727.00 $43,202.62
ALLOWANCE FOR DEPRECIATION
Land improvements
$ 131581.63
$ .190.42
$ 1,772.05
Furniture and fixtures
151864.42
77.32
1,941.74
Trucks
2,554.70
1,737.47
$1,381.60 2,910.57
Equipment
22,200.00
1,239.80
23,439.80
$28,200.75
$3,245.01
$1,381.60 $302064.16
NET BALANCE
$13,577.09
$13,138.46
-78-
LIQUOR DISPENSARY FUND
BALANCE SHEET
VILLAGE OF EDINA
December 319 1970
Current assets:
Cash:
Demand deposits
Deposits in transit
Time deposits
Working funds
Investments - at cost:
Village of Edina - Waterworks
Revenue Bonds of 1959
Accrued interest
United States Treasury notes - at cost
Due from other funds
Merchandise inventory - at the lower of
cost (first -in, first -out method) or
market:
Liquor
Wine
Beer
Mix and miscellaneous
Prepaid expenses:
Unexpired insurance
Supply inventory
Loans to other funds:
Golf Course Fund
Recreation Center Fund (arena)
Fixed assets - on the basis of cost:
Land
Land improvements
Building
Furniture, fixtures and equipment
Leasehold improvements
Less allowances for depreciation and
amortization
Current liabilities:
Trade accounts payable
Salaries and wages
Surplus:
Invested in fixed assets
Unappropriated
* Indicates red figure.
ASSETS
$ 2,144.31`
31,088.49 $ 28,944.18
50,000.00
3,000.00 $ 81,944.18
$'26,945.45
311.67 $ 27,257.12
50,924,.58 78,181.70
18,775.00
$317,580.15
40,064.96
11,515.45
2,757.92 371,918.48
$ 2,068.32
400.00 2,468.32
TOTAL CURRENT ASSETS $ 553,287.68
$2451000.00
170,000.00 415,000.00
$ 46,500.00
$ 3,412.66
165,331.92
46,647.74
31.208.29
$246,600.61
123,433.59 123,167.02 169,667.02
$1,137,954.70
LIABILITIES AND SURPLUS
$ 66,876.96
_ 5,174.29
TOTAL CURRENT LIABILITIES $ 72,051.25
$169,667..02
896,236.43 1,065,903.45
$1,137,954.70
-79-
LIQUOR DISPENSARY FUND
STATEMENT OF SURPLUS
VILLAGE OF EDINA
Year Ended December 31, 1970
Balance at January 1, 1970
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 - net
Balance at December 31, 1970
* Indicates red figure.
Invested in
Total
Available
Fixed Assets
$ 930,144.85
$ 878,144.92
$ 51,999.93
410,758.60
410,758.60
$1,340,903.4 -5
$1,288,903.52
$ 51,999.93
$ 18,389.00
$ 18,389.00
126,611.00
126,611.00
130,000.00
130,000.00
$ 275,000.00
$ 275,000.00
$ -
$1,065,903.45
$1,013,903:52
$ 51,999.93
-
10,768.46
10,768.46*
-
128,435.55*
128,435.55
$1,065,903.45
$ 896,236.43
$169,667.02
Sales:
Liquor
Wine
Beer
Mix and miscellaneous
Less bottle refunds
NET SALES
Cost of sales:
Inventory at January 1
Purchases
Inventory at December 31
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 expense
LIQUOR DISPENSARY FUND
STATEMENT OF INCOME AND EXPENSE
VILLAGE OF EDINA
Year Ended December 31
Increase
Decrease*
$208,406.00
76,627.00
22,488.00
8,676.00
$316,197.00
Y J 1✓,` 11. VV
$ 95,166.02
172,038.56
$267,204.58
7,463.44
$274,668.02
$ 40,802.98
Per Cent to Net Sales
1 9 7 0 1969
50th Street Southdale Grandview Total Total
i
100.00% 100.00% 100.00% 100.00% 100.00%
76.13
23.87%
$ 48,104.00
1 9
7 0
$ 111,056.00
1969
50th Street
Southdale
Grandview
Total
Total
'I
57,753.00
$ 735,401.00
$472,022.00
$552,666.00
$19760,089.00
! $1,551,683.00
144,970,00
105,845.00
111,149.00
361,964.00
285,337.00
176,255.00
67,165.00
110,205.00
353,625.00
331,137.00
_ 24,914:00
11,872.00
24,071.00
60,857.00
.52,181.00
$1,081,540.00
$656,904.00
$798,091,00
$2,536,535.00
$2,220,338.00
5,639,00
965.00
2,338.00
8,942.00
8,216.00
$1,075,901.00
$655,939.00
$795,753.00
$215271593.00
$2,212,122.00
i
$ 142,939.77
$117,614.35
$118,827.80
$ 379,381.92
$ 284,215.90
816)245.84
496,966.55
605,237.17
1,918,449.56
1,746,411.00
$ 959,185.61
$614,580.90
$724,064.97
$2,297,831.48
$2,030,626.90
140,067.61
115,670.90
116,179.97
371,918.48
379,381.92
$ 819,118.00
$498,910.00
$607,885.00
$1,925,913.00
$1,651,244.98
$ 256,783.00
$157,029.00
$187,868.00
$ 601,680.00
$ 560,877.02
Increase
Decrease*
$208,406.00
76,627.00
22,488.00
8,676.00
$316,197.00
Y J 1✓,` 11. VV
$ 95,166.02
172,038.56
$267,204.58
7,463.44
$274,668.02
$ 40,802.98
Per Cent to Net Sales
1 9 7 0 1969
50th Street Southdale Grandview Total Total
i
100.00% 100.00% 100.00% 100.00% 100.00%
76.13
23.87%
$ 48,104.00
$ 31,474.00
$ 31,478.00
$ 111,056.00
$ 94,808.00
$ 16,248.00
4.47%
13,462.00
21,791.00
22,500.00
57,753.00
52,449.00
5,304.00
1.25
19,817.00
183,764.00
19,255.00
57,836.00
55,136.00
2,700.00
1.84
_$ 81,383.00
$ 72,029.00
$ 73,233.00
$ 226,645.00
$ 202,393.00
$ 24,252.00
7.56%
$ 175,400.00
$ 85,000.00
$114,635.00
$ 375,035.00
$ 358,484.02
$ 1631550.98
16.31%
4,898.00 3,180.00
( 42.00) ( 21.00)
1,240.60
$ 181,496.60 $ 88,159.00
$ 4,927.00 $ 602.00
3,779.00
82.00
$118,496.00
NET INCOME
$ 5,240.00
11,857.00
19.00
1.240.60
$ 388,151.60
22.607.00
10,447.00
116.00
1.017.19
$ 370,064.21
14.519.00
1,410.00
97.00*
223.41
$ 18,087.39
8,088.00 .
$ 410,758.60
$
384,583.21
$
26,175.39
$ 10',769.00
$
9,169.00
$
131600.00
.45
.11
16.87%
76.06
23.94%
4.80%
3.32
2.86
10.98%
12.96%
.48
i
13.44%
76.39
23.61%
3.95%
2.83
2.42
14.41%
.48
14.89%
76.20
23.80%
4.39%
2.28
2.29
8.96%
14.84%
.47
.05
15.36%
74.65
25.35%
4.28%
2.37
2.49
9.14% -
16.21%
.47
.05
16.73%
-81-
i
LIQUOR DISPENSARY FUND I
OPERATING EXPENSES
i
VILLAGE OF EDINA
I
Selling:
Salaries and wages
Supplies
Licenses and dues
Pro rata promotion
Service contracts
Direct promotion
Occupancy:
Salaries and wages
Rent
Telephone
Supplies
Light and power
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
Water and sewer services
Administrative:
Salaries and wages
Supplies.
Professional services
Allocated expenses - retirement,
insurance, office supplies, etc.
Miscellaneous
Mileage
Special study and appraisal service
TOTAL
$81,383.00 $72,029.00 $73,233.00 $22651645.00 $70,570.00 $673429.00
$64,394.00 $202,393.00!, $10,813.00 $4,60MO $82839.00 $24,252.00
I
-82-
Y e a
r E n d e d,
D e c e m b
e r 3 1
1 9
7 0
1 9
6 9
Increase -
Decrease*
50th Street
Southdale
Grandview
Total
50th Street
Southdale
Grandview
Total I
50th Street
Southdale
Grandview
Total
$45,896.00
$29,632.00
$29,881.00
$105,409.00
$36,976.00
$261701.00
$26,559.00
$
90,236.00
$
8,920.00
$2,931.00
$3,322.00
$15,173.00
1,920.00
1,264.00
1,353.00
4,537.00
1,704.00
1,171.00
764.00
3,639.00
216.00
93.00
589.00
898.00
78.00
18.00
18.00
114.00
40.00
29.00
30.00
99.00
38.00
11.00*
12.00*
15.00
292.00
292.00
311.00
311.00
19.00*
19.00*
58.00
16.00
74.00
-
58.00
16.00
74.00
210.00
210.00
210.00
630.00
176.00
176.00
171.00
523.00
34.00
34.00
39.00
.107.00
$48,104.00
$31,474.00
$31,478.00
$111,056.00
$38,896.00
$28,388.00
$27,524.00
$
9431808.00
$
93,208.00
$3,086.00
$3,954.00
$16,248.00
$ 236.00
$ 236.00
$ 96.00
$ 32.00
$ 35.00
$
163.00
$
140.00
$. 32.00*
$ 35.00*
$ 73.00
$16,853.00
$10,596.00
27,449.00
16,686.00
10,596.00
273-282.00
167.00
167.00
336.00
276.00
266.00
878.00
336.00
271.00
253.00
860.00
5.00
13.00
18.00
237.00
229.00
206.00
672.00
284.00
20.00
81.00
385.001
47.00*
209.00
125.00
287.00
1,632.00
1,175.00
1,524.00
42331.00
1 1,668.00
1,129.00
1,428.00
4,225.00
36.00*
46.00
96.00
106.00
658.00
85.00
423.00
131166.00
545.00
113.00
172.00
r
830.00
113.00
28.00*
251.00
336.00
408.00
407.00
815.00
376.00
421.00
797.00
32.00
14.00*
18.00
678.00
270.00
362.00
1,310.00
365.00
294.00
355.00
1,014.00
313.00
24.00*
7.00.
296.00
164.00
96.00
260.00
164.00
96.00
260.00
-
2,474.00
1,645.00
2,327.00
6,446.00
1,897.00
1,257.00
1,918.00
5,072.00
577.00
388.00
409.00
1,374.00
75.00
312.00
387.00
-
75.00
312.00
387.00
265.00
179.00
154.00
598.00
155.00
149.00
304.00
110.00
30.00
154.00
294.00
4,927.00
602.00.
5,240.00
10,769.00
5,323.00
603.00
3,243.00
9,169.00
396.00*
1.00*
1,997.00
1,600.00
425.00
430.00
425.00
1,280.00
420.00
240.00
300.00
960.00
5.00
190.00
125.00
320.00
900.00
35.00
150.00
1,085.00
690.00
25.00
135.00
850.00
210.00
10.00
15.00
235.00
_
25.00
25.00
25.00*
25.00*
47.00
12.00
12.00
71.00
225.00
16.00
12.00
253.00
178.00*
4.00*
182.00*
$13,462.00
$21,791.00
$223500.00
$ 57,753.00
_$12,544.00
$20,835.00
$19,070.00
$
52,449.00
$
918.00
$ 956.00
$3,430.00
$ 5,304.00
$13,404.00
$139608.00
$14,011.00
$ 41,023.00
$12,253.00
$12,417.00
$12,046.00
$
36,716.00'
$
1,131.00
$1,191.00
$1,965.00
$ 4,307.00
. 244.00
244.00
244.00
732.00
198.00
127.00
248.00
573.00
46.00
117.00
4.00*
159.00
1,033.00
933.00
933.00
2,899.00
933.00
.833.00
833.00
2,59.9.00
100.00
100.00
100.00
300.00
3,900.00
3,660.00
3,600.00
11,160.00
5,520.00
4,.560.00
4,500.00
14,580.00,
1,620.00*
900.00*
900.00*
3,420.00*
570.00
199.00
98.00
867.00
126.00
169.00
73.00
368.00;
444.00
30.00
25.00
499..00
120.00
120.00
119.00
359.00
100.00
100.00
100.00
300.00
20.00
20.00
19.00
59.00
546.00
250.00
796.00
- j
546.00
250.00
796.00
X$19,817.00
$18,764.00
$19,255.00
$ 57,836.00
$19,130.00
$18,206.00
$17,800.00
$
55,136.001
$
687.00
$ 558.00
$1,455.00
$ 2,700.00
$81,383.00 $72,029.00 $73,233.00 $22651645.00 $70,570.00 $673429.00
$64,394.00 $202,393.00!, $10,813.00 $4,60MO $82839.00 $24,252.00
I
-82-
LIQUOR DISPENSARY FUND
ANALYSIS OF CHANGE IN CASH BALANCE
VILLAGE OF EDINA
Year Ended December 31, 1970
Balance at January 1, 1970
Additions:
Gross sales
Cash discounts
Interest received on investments
Payment received on accrual
at December 31, 1969
Decrease in prepaid insurance
Payment on loans to other
funds
Other revenue
Increase in liabilities:
Balance at December 31, 1970:
Trade accounts
Accrued payroll
$ 66,876.96
5,174.29
$ 722051.25
$2,5360535.00
11,857.00
3,811.00
9,039.80
137.00
10,000.00
1,259.08
Balance at January 1, 1970:
Trade accounts $33,916.51
Accrued payroll 4,321.75
Due to other funds 157.50 38,395.76 33,655.49
Deductions:
Merchandise purchased
Bottle refunds
Operating expenses
Less depreciation included
therein not requiring cash
Transfers:
General Fund
..Park-Fund
Park Construction Fund
Fixed assets purchased
Summary:
Demand deposits
Time deposits
$1,918,449.56
8,942.00
$226,645.00
10,769.00 215,876.00
$ 18,389.00
126,611.00
130,000.00 275,000.00
128,435.55
$ 19,352.92
2,606,294.37
$2,625,647.29
2,546,703.11
Balance at December 31, 1970 $ 78,944.18
$ 283,944.18
50,000.00
TOTAL $ 78,944.18
-83-
LIQUOR DISPENSARY FUND
FIXED ASSETS
VILLAGE OF EDINA
Year Ended December 31, 1970
-84-
Balance
Balance
January 1,
December 31,
1970
Additions
Deductions
1970
ASSETS
Land
$ 16,500.00
$ 30,000.00
$ 4610500.00
Land improvements
31412.66
3,412.66
Buildings
75,331.92
90,000.00
1659331.92
Furniture, fixtures and equipment
48,373.74
6,295.00
$81021.00
46,647.74
Leasehold improvements
28,172.74
3,035.55
31,208.29
$1715791.06
$1293,330.55
$85021.00
$293,100.61
ALLOWANCES FOR DEPRECIATION
AND AMORTIZATION
Land improvements
$ 1,842.62
$ 139.93
$ 1,982.55
Buildings
56,270.15
5,700.73
61,970.88
Furniture, fixtures and equipment
36,608.42
3,157.10
$7,126.00
32,639.52
Leasehold improvements
25,069.94
1,770.70
26,840.64
$119,791.13
$ 10,768.46
$7,126.00
$123,433.59
NET BALANCE
$ 51,999.93
$1693667.02
-84-
Fund:
General:
Current
Auto license account
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
First Southdale National Bank
Edina State Bank
Working funds
* Indicates red figure.
CASH - ALL FUNDS
VILLAGE OF EDINA
December 31, 1970
Demand and
Time
Deposits
$ 666,596.92
75,293.58
$ 741,890.50
8,359.76
23,140.45
8,250.05*
75,501.29
11,147.22
94,333.66
46,134.99*
$ 537,614.51
54,376.16
51,455.51
$ 643,446.18
$ 80,226.02
10,316.25
90,542.27
66,703.67
78,944.18
TOTAL $1,779,624.14
Working
Funds Total
$ 550.00 $ 667,146.92
225.00 75,518.58
$ 775.00 $ 742,665.50
8,359.76
23,140.45
8,250.05*
52:.00 75,553.29
1,000.00 12,147.22
94,333.66
46,134.99*
643,446.18
90,542.27
66,703.67
3,000.00 81,944.18
$4,827.00 $1,784,451.14
$ 210,322.56
14,480.78
4,820.80
$ 229,624.144
$1,250,000.00
200,000.00
100,000.00
$1,550,000.00
4,827.00
$1,784,451.14
-85-
SECURITY FOR DEPOSITS
VILLAGE OF EDINA
December 31, 1970
First Edina National Bank - demand deposit
do certificate of deposit
Midland National Bank - demand deposit
Deposits
Book Bank
$ 210,322.56 $ 585,817.33
1,250,000.00 1,250,000.00
TOTAL $1,460,322.56
TOTAL
First Southdale National Bank - demand deposit
do certificate of deposit
Edina State Bank - certificate of deposit
$ 4,820.80
$ 4,820.80
$ .14,480.78
200,000.00
TOTAL $ 214,480.78
$ 100,000.00
TOTAL $ 100,000.00
�j
Security,for Deposits
Principal
Amount Description Due Date
i
$1,000,000.00 New York State TAN Bond March 31, 1971
700,000.00 Depository Bond with St. Paul.Fire & Marine
Insurance Company January 4, 1971
20,000.00 Federal Deposit Insurance
$1,835,817.33
.$1,720,000.00
$ 4,820.80
.$ 255000.00
I.S.D. #275 Golden Valley i
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
y
20,000.00
Federal Deposit Insurance
$ 42820.80
$ 145,000.00
$ 37,419.28
$ 20,000.00
I
Village of Edina Recreation :Center Bonds
September
1,
1977
200,000.00
20,000.00
Village of :Edina Recreation 'Center Bonds
September
1,
1980
20,000.00
Columbia Heights, Minnesota I.S.D. #13
February
1,
1.980
20,000.00
State of California School Bonds
September
1,
1978
20,000.00
Winona; °Special':.S %D #5, Minnesota
July' `:
1,
1978
20,000.00
State of Hawaii I,
October
15,
1977
20,000.00
St. Louis Park, Minnesota Refunding
December
1,
1975
20,000.00
Willmar', Minnesota Refunding;
August
13
1975
20,000.00
Eugene, Oregon Bancroft Improvement
June
1,
1975,
20,000.00
White Bear Lake, Minnesota i.S.D. #624
April
1,
1975
10,000.00
Blue Island, Illinois Comm. H.S.D. #218
December
1,
1973
5,000.00
Brainerd, Minnesota Imp.
February
1,
1972
°53000.00
Burnsville, Minnesota, I.S.D,. #191
November
1,,1972
5,000.00
Dawson, Minnesota I.S.D. X6373 School Building
August
1,
1972
531000.00
Edina, Minnesota Park System of 1957
March
1,
1972
53000.00
Slayton, Minnesota I.S.D. 4504
February
.1,
1971
103000.00
Jt. Ind. Cons. Sch. Dist. X639 Ramsey County
X6103 Washington County, Minn. School
Building Bonds .;
February
1,
1983
20,000.00
Washington Motor Vehicle Fuel Tax Revenue
September
1,
1976
10,000.00
New York, New York Various Purpose
October
1,
1971
20,000.00
Bloomington, Minnesota I.S.D. X6271 School Building
February
13
1979
20,000.00
Federal Deposit Insurance
$ 237,419.28
$ 3153000.00
$ .100,000.00
$ 453000.00
United States Treasury Bonds' Series A
May
15;
1971
1003000.00
United States Treasury Bonds, Series E
May
15,
1971
I
20,000.00
Federal Deposit Insurance
i
$ 1003000.00
$ 1653000.00
Description
United States Treasury Notes
do
United States Treasury Bonds
do
Federal Intermediate Credit
Bank Debentures
Federal Home Loan Bank Notes
do
Federal National Mortgage
Association Secondary
Market Debentures
Federal National Mortgage
Association Participation
Certificates
Federal Land Bank Bonds
do
Village of Edina, Minnesota:
1970 Municipal State -Aid Bonds
1955 Improvement Bonds
i, 1957 Improvement Bonds
1966 Improvement Bonds
1; 1968 Improvement Bonds
o 1953 Sanitary Sewer Bonds
1958 Waterworks Revenue Bonds
FUND OWNERSHIP
Improvement Funds
General
Poor
Golf Course
Park Sinking
Waterworks
Liquor Dispensary
Recreation Center
Advance Funding Highway Bonds
General Fund - land investment
INVESTMENTS
VILLAGE OF EDINA
December 31, 1970
Maturity Interest Rate
February 15, 1975 �Sold/Yov, / 5.75%
May 15, 1975 6.00 (A)
February 15, 1972
May 15, 1974
July 12 1971
Face Amount
$ 30051000.00 27
60,000.00(A)"'
$ 360,000.00
4.75 (A) $ 300,000.00(A)�
4.25 (A) 440, 000.00 (Avl
$ 740,000.00
7.10 700,000.00.54
February 25, 1980 U C". 7.75
August 25, 19711,LA /94! 7.65
September 10, 1973
February 10, 1971
July 203, 1971
July 20, 1976
June
March
March
November
December
January
September
8.10
�' .`�- 81 7 5
13,
1972 - 1974
1,
1977
1,
1974 - 1979
1,
1972
1,
1978
1,
1973
1,
1971 -.1974
$ 75,000.00 3
50,000.00 5
$ 125,000.00
250, 000.00 -</
750,000.00 Z14
8.45. $ 625,000.00 S°
5.375 200,000.00 do
$ 8253000.00
6.00
2.90
3.90
3.90
4.00
3.10
3.40 to 3.50
TOTAL SECURITIES
Face Amount
December 31,
1970
$1,441,000.00
100,000.00
25,000.00
25,000.00
25,000.00
250,000.00
77,000.00
50,000.00
2,550,000.00
$4,543,000.00
TOTAL INVESTMENTS
$ 675,000.00
25,000.00
31,000.00
10, 000.00
15,000.00
10,000.00//
27, 000.00
$ 793,000.00
$4,543,000.00
Carrying Amount
December 31,
1970
$1,447,919.42
101,585.47
25,358.30
25,472.19
25,000.00
253,742.84
78,181.70
51,468.51
2,565,066.38
$4,573,794.81
67,851.16
$4,641,645.97
-87-
NOTE TO INVESTMENTS
VILLAGE OF EDINA
December 31, 1970
Note A - The face amount of these bonds is $890,000. However, the amount shown above is
the cost of the bonds since the Village has an agreement with the bank whereby
the bank will repurchase the bonds at cost on the dates shown below and pay the
Village interest for the period held at the following rates:
Date to be
Repurchased
March 15, 1971
December 15, 1971
Amount
$300,000
500,000
Interest
Rate
8.45%
8.00
TAXABLE VALUATIONS, TAX LEVIES AND RATES
VILLAGE OF EDINA
Taxable valuation:
Real estate
Personal property
TOTAL
Tax levies extended:
Extended in year
Collectible in year
General
Parks
Bonds and interest
Poor and public nursing
Firemen's relief
Fire protection
TOTAL
Tax rate by mills:
December 31
1970
$77,145,878.00
2,561,070.00
$79,706,948.00
1970
1971
$ 1,592,544.82
157,022.69
63,765.56
15,941.39
7,970.69
13.550.18
$ 1,850,795.33
1969
$56,680,044.00
2,825,324.00
$59,5050368.00
1969
1970
$ 1,471,567.75
118,415.68
63,075.69
13,686.23
5,950.54
16.661.51
$ 1,689,357.40
General
19.98
24.73
Parks
1.97
1.99
Bonds and interest
.80
1.06
Poor and public nursing
.20
.23
Firemen's relief
.10
.10
Fire protection
.17
.28
TOTAL 23.22
28.39
OFFICIAL BONDS
I
VILLAGE OF EDINA
December 31, 1970
i
Position
Name
Bond Expires
Amount
Surety
On file with Clerk- Treasurer:
Blanket position
Police department employees
$ 5,000.00
American
Casualty
Company
Blanket position
All Village employees other than the Treasurer
and police department employees
$50,000.'00
American
Casualty
Company
Treasurer
J. N. Dalen
February
28,
1973
$50,000.00
American
Casualty
Company
Deputy Assessor
Ronald A. Blagen
February
28,
1973
$ 500.00
American
Casualty
Company
Deputy Assessor
Ralph E. Johnson
February
28,
1973
$ 500.00
American
Casualty
Company
Assessor
Kent Swanson
February
28,
1973
$ 500.00
i
American
Casualty
Company
i
i
I
-90-
INSURANCE COVERAGE
VILLAGE OF EDINA
December 31, 1970
Building and contents (A):
Village Hall
Library
Morningside municipal buildings
Village garage
Municipal liquor store - 50th Street
Municipal liquor store - Southdale
Municipal liquor store - Grandview
Municipal golf course club house
Municipal recreation center
Municipal recreation center.- East addition
Municipal swimming pool
Water reservoir
Parking ramp
Pumping stations (location):
Wooddale
Halifax
Southview Lane
Southdale
Concord
Brookview Heights
Hansen Road
76th Street
2nd Street
6500 Dewey Hill Road
Sherwood
Mirror Lakes
Creek Valley
Water tower - Concord Street
Water tower - 69th Street
Sanitary sewer lift station
Bathhouse
Maintenance building - golf course
Range building - golf course
Storage building
Dwelling - Olinger Road
Dwelling - West 70th Street
Grange building
Cahill School building
Inventories (D):
Liquor store - Southdale
Liquor store - 50th Street
Liquor store - Grandview
^� Automotive:
Bodily injury
Property damage
Comprehensive
F ire and
Extended Coverage
Building Contents
$550,000
440,000
30,800
450,000
72,000
67,000
160,000
450,000
153,000
200,000
385,000
350,000
57,500
15,000
10,900
14,500
48,400
15,000
14,500
65,000
66,000
41,800
12,100
44,000
45,000
140,000
230,000
49,000
72,000
7,500
2,500
4,000
12,000
52,500
4,000
4,000
$ 80,000
18,000
4,000
35,000
20,000
20,000
27,.000
16,000
112,500
72,000
55,000
12, YO - 0
13,20
13;200
77;000
13,200
17,600
105,000
103,000
13,000
13,200
14,000
33,000
30,000
11,000
3,000
5,000
7,500
(ltl -ior
$ 165,000
190,000
160,000
$250 / 500,000
100,000
$100 deductible
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Village liquor stores:
Liquor liability
Boiler - 50th Street
Boiler - Grandview
Business interruption
Business interruption
Business interruption
Burglary, robbery and
Burglary, robbery and
Burglary, robbery and
Village golf course:
Liquor liability
Burglary, robbery
Burglary, robbery
Boiler
INSURANCE COVERAGE (Cont'd)
- 50th Street
- Southdale
- Grandview
theft - within premises
theft - outside premises
theft - merchandise (C)
and theft - within premises
and theft - outside premises
Recreation center:
Business interruption
Business interruption
Burglary, robbery and
Burglary, robbery and
Burglary, robbery and
Boiler
- main building
- East addition
theft - within premises
theft - outside premises
theft - merchandise (C)
Other insurance:
General liability:
Automotive non - ownership, independent
contractor, and Village premises -
operations:
Bodily injury
Property damage
Umbrella policy
Workmen's compensation
Property floater all risk - voting machines
Property floater - equipment other than automotive
Boiler
Earthquake coverage - swimming pool and water
reservoir (A)
Other locations
F ire and
Extended Coverage
Building Contents Other
$ 300,000(B)
50,000
50,000
115,000
90,000
75,000
5,000(B)
5,000(B)
7,500(B)
300,000
5,000
5,000
50,000
120,000
50,000
2$00
2,500
2,500
50,000
$250 / 500,000
100,000
2,000,000
Statutory
102,000
Actual cash value
50,000(E)
526,500
Note A - 90% coinsurance..
Note B - 50th Street, Southdale and Grandview.
Note C - 40% coinsurance.
Note D - Reporting,form.
Note E - Administration building, municipal building, street department and library.
Note F - Fire and extended coverage, $10,000 other locations and $10,000 in transit.
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(F)
ORGANIZATION
VILLAGE OF EDINA
December 31, 1970
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:
Thomas S. Erickson
Clerk:
Florence Hallberg
Treasurer and Finance Director:
J. N. Dalen
Assessor:
Kent Swanson
Prosecuting Attorney:
Walter Gustafson
Director of Public Works and Engineering:
Robert C. Dunn
Term
Expires
December 31
1971
1972
1971
1972
1970
Elected,
Re'- elected or
Re- appointed to
December 31
1973
Appointed by Council
Appointed by Council
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