HomeMy WebLinkAbout1980 Financial StatementsCITY OF EDINA, MINNESOTA
FINANCIAL STATEMENTS
DECEMBER 31, 1980
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CITY OF EDINA, MINNESOTA
ELECTED AND APPOINTED OFFICIALS
DECEMBER 31, 1980
Elected
Mayor James Van Valkenburg
Council
C. Wayne Courtney
June A. Schmidt
A. Charles Bredesen III
Frederick S. Richards
Effective - January 1981
Mayor C. Wayne Courtney
Council
A. Charles Bredesen III
Frederick S. Richards
June A. Schmidt
Leslie C. Turner
Appointed
Manager - Kenneth E. Rosland
Treasurer and Finance Director - J. N. Dalen
Clerk - Florence Hallberg
First official business day
Term of
office expires
January*
1981
1981
1981
1983
1983
1985
1983
1983
1985
1985
CITY OF EDINA, MINNESOTA
TABLE OF CONTENTS
SECTION I
INTRODUCTORY SECTION
Comments
SECTION II
FINANCIAL SECTION
Accountants' report
II -A. General Purpose Financial Statements
Page
I
1
Combined balance sheet - all fund types and
account
groups
2
Combined statement
of revenue,
expenditures
and fund
balance -
all governmental
fund types
4
Combined statement
of revenue,
expenditures
and fund
balance -
budget and actual
- general
and special revenue
fund types
6
Combined statement
of revenue,
expenses and
retained
earnings -
all proprietary
fund types
8
Combined statement
of changes
in financial
position
- all proprietary
fund types
9
Notes to financial
statements
10
II -B. Combining and Individual Fund Statements and Account Groups
General Fund
Balance sheet 22
Statement of changes in fund balance 23
Statement of revenue 24
Statement of expenditures 26
Schedule of central services expenditures 32
Special revenue funds
Combining balance sheet .33
Combining statement of revenue, expenditures and fund balance 34
Statements of revenue, expenditures and fund balance
Revenue Sharing Fund 35
Nursing Services Fund 35
Park Fund 36
General debt service funds
Combining balance sheet 38
Combining statement of revenue, expenditures and fund balance 39
Capital projects fund (Park Construction Fund)
Balance sheet 40
Statement of revenue, expenditures and fund balance 41
CITY OF EDINA, MINNESOTA
TABLE OF CONTENTS (CONTINUED)
II -B. Combining and Individual Fund Statements and Account Groups (Continued)
Page
Special assessment funds
Combining balance sheet 42
Combining statement of revenue, expenditures and fund balance 44
Proprietary funds (enterprise funds)
Combining balance sheet 46
Combining statement of revenue, expenses and retained earnings 50
Combining statement of changes in financial position 52
Schedule of property and equipment 54
Waterworks Fund
Balance sheet
58
Statement of revenue,
expenses and
retained
earnings
59
Statement of changes
in financial
position
60
Sewer Rental Fund
Balance sheet
61
Statement of revenue,
expenses and
retained
earnings
62
Statement of changes
in financial
position
63
Liquor Fund
Balance sheet
64
Statement of revenue,
expenses and
retained
earnings
65
Statement of changes
in financial
position
66
Schedule of operating
expenses
67
Swimming Pool Fund
Balance sheet
68
Statement of revenue,
expenses and
retained
earnings
69
Statement of changes
in financial
position
70
Golf Course Fund
Balance sheet
71
Statement of revenue,
expenses and
retained
earnings
72
Statement of changes
in financial
position
73
Schedule of operating
expenses
74
Recreation Center Fund
Balance sheet
75
Statement of revenue,
expenses and
retained
earnings
76
Statement of changes
in financial
position
77
Gun Range Fund
Balance sheet
78
Statement of revenue,
expenses and
retained
earnings
79
Statement of changes
in financial
position
80
Art Center Fund
Balance sheet
81
Statement of revenue,
expenses and
retained
earnings
82
Statement of changes
in financial
position
83
Statement of General Fixed Assets 84
Statement of General Long -term Debt 85
CITY OF EDINA, MINNESOTA
TABLE OF CONTENTS (CONTINUED)
SECTION III
STATISTICAL SECTION
Schedule of cash, investments and security for deposits
Combined schedule of indebtedness
Schedule of changes in bonded indebtedness
Bonds payable
Debt service requirements
Employees' surety bonds
Tax levies and collections
Special assessment levies and collections
Assessed valuations, tax levies and mill rates
Pa' e
87
88
90
90
92
92
93
93
95
SECTION I
INTRODUCTORY SECTION
CITY OF EDINA, MINNESOTA
COMMENTS
The City of Edina operates under "Optional Plan B" as defined in the.State of .
Minnesota Statutes. Optional Plan B is known as the Council- manager plan. Under
this plan, asspecified in the Statutes, "The council shall exercise the legislative
power of the City and determine all matters of policy. The city manager shall be
the head of the administrative branch of the city government and shall be responsible
to the council for the proper administration of all affairs relating to the City."
The Council is composed of five members, including the mayor who is chairman. The
city manager is appointed by the Council.
GENERAL FUND
The General Fund was established to account for the revenues and expenditures necessary
to provide basic governmental services to the City such as general government, public
safety and public works.
A plan of financial operation of
the Fund is
set forth in
the annual budget adopted
by Council. The General Fund statements are
prepared to show
the budget
estimates
and actual amounts. A condensed
summary of operations is
shown below:
1980
1979
Budget
Actual
Budget
Actual
Revenue and other sources
General property taxes
$2,794,239
$2,826,696
$2,643,661
$2,605,481
Licenses and permits
192,900
229,646
186,300
262,212
Intergovernmental revenue
1,913,289
1,980,034
1,534,757
1,511,513
Fines and forfeitures
159,000
236,801
114,500
158,196
Charges for services
277,900
258,908
200,700
293,653
Miscellaneous revenue
64,500
70,774
62,700
82,277
Reserve for commitments
37,600
37,600
72,288
80,588
Transfers from other funds
315,000
315,000
288,225
.288,225
Appropriated surplus
159,700
209,564
Total revenue
$5,914,128
$5,955,459
$5.312.695
$5,282,145
Expenditures and other uses
General government
$ 732,774
$ 754,849
$ 660,580
$ 670,390
Public safety
2,970,607
2,929,500
2,672,801
2,667,384
Public works
1,770,299
1,732,689
1,562,430
1,564,222
Unallocated general expense
266,168
251,680
210,684
222,160
Central services
( 13,100)
( 108,038)_
74,200
68,581
Reserve for commitments
172,380
172,380
117,000
117,000
Transfers to other funds
15.000
15,000
15,000
15,424
Total expenditures $5,914,128 $5,748,060 $5,312,695 $5,325,161
During 1980 the fund balance increased $207,399 to $551,971 at December 31, 1980.
$184,800 of the fund balance has been appropriated to finance the 1981 budget, leaving
an unappropriated fund balance of $367,171.
I
SPECIAL REVENUE FUNDS
Special revenue funds are established to account for taxes and other revenue set
aside for a particular purpose. Following is a brief description of each fund.
Revenue Sharing Fund - The Revenue Sharing Fund was established to account for
revenue received from the Federal government in accordance with the "State and Local
Fiscal Assistance Act of 1972." Expenditures can only be made from this fund as
outlined in the Act. The City's share of revenue for 1980 was $223,171. During
1980 transfers of $225,000 were made to the General Fund leaving a fund balance of
$342,280 at December 31, 1980.
Nursing Services Fund - This fund was establsihed to account for money used for health
and nursing services. Beginning in 1978 the activities of the fund were.accounted for
in the General Fund. This fund could be closed.
Park Fund - The Park Fund was established to account for administration and main -
tenance of City parks. Expenditures exceeded revenue by $316,262 during 1980, the
reserve and deposits increase $155,285 leaving a deficit fund balance of $160,056
at December 31, 1980.
GENERAL DEBT SERVICE FUNDS
The General Debt Service funds are used to account for the accumulation of resources
and for payment of general.obligation bonds or other general indebtedness and interest
thereon. General property taxes are being collected to provide the necessary funds.
Park Sinking.Fund - The Park Sinking Fund was established to account for debt retire-
ment of the Park Construction Bonds of 1957 and the General Obligation Park Bonds of
1975. Included in the fund at December 31, 1980 is $163,663 of bond proceeds for
park improvements. The bond proceeds will be transferred to the Park Fund as needed
to pay improvement costs.
Redevelopment Sinking Fund - The Redevelopment Sinking Fund was established to account
for debt retirement of the 1975 Redevelopment Bonds.
CAPITAL PROJECTS FUND (Park Construction)
The Park Construction Fund was established to account for improvements to park
facilities. This fund was closed into the Park.Fund in 1980.
SPECIAL ASSESSMENT FUNDS
Special assessment funds are established to account for assessments levied to finance
improvements or services deemed to benefit the properties against which the assess-
ments are levied. Primarily, the transactions accounted for in special assessment
construction funds are receipt of bond proceeds and disbursement of bond proceeds
for construction work done. Special assessment debt service funds are used primarily
to account for collection of assessments against benefited property owners and
disbursement of assessment collections for the payment of bonds and interest.
ENTERPRISE FUNDS
Enterprise funds are established to account for the self supporting activities of
the city which render services to the general public on a user charge basis.
II
ENTERPRISE FUNDS (CONTINUED)
Waterworks Fund - The Waterworks Fund accounts for the operations of the City -owned
water system. Shown below is a condensed summary of operations for the last three
years.
Sewer Rental Fund - The Sewer Rental Fund accounts for the operations of the sewer
collection system. Shown below is a condensed summary of operations for the last
three years.
1980
1979
1978
Operating revenue
$ 778,195
$ 544,596
$ 573,856
Operating expenses
853,464
830,771
733,479
Operating loss
$( 75,269)
$( 286,175)
$( 159,623)
Other revenue
28,448
31,878
21,281
Net loss
$(, 46,821)
$( 254,297)
$( 138,342)
Sewer Rental Fund - The Sewer Rental Fund accounts for the operations of the sewer
collection system. Shown below is a condensed summary of operations for the last
three years.
Yorkdale
Sales
1980 1979
1978
Operating revenue
$1,388,669 $1,162,176
$1,139,177
Operating expenses
1,688,256 1,530,478
1,469,615
Operating loss
$( 299,587) $( 368,302)
$( 330,438)
Other revenue
91,202 131025
75,390
Net loss
$( 208,385) IL-236,477)
$( 255,048)
Liquor Fund - The Liquor Fund accounts
for the operations of the
City -owned liquor
operation. Shown below is a condensed summary of operations for
the last three years.
1980
1979
1978
175,769
Percent Percent
Percent
Amount
of sales Amount of sales
Amount of sales
50th Street
Sales $1,200,309
100.00 $1,077,915 100.00
$ 889,916 100.00
Cost of goods sold 1,000,487
83.36 934,181 86.67
728.535 81.87
Gross profit $ 199,822
16.64 $ 143,734 13.33
$ 161,381 18.13
Operating expenses 153,924
12.83 133,094 12.34
116,550 13.10
Operating income $ 45,898
3.81 $ 10,640 .99
$ 44,831 5.03
Yorkdale
Sales
$2,510,132
100.00
$2,222,356
100.00
$2,077,977
100.00
Cost of goods sold
2,092,917
83.38
1,860,094
83.70
1,745,612
84.01
Gross profit
$ 417,215
16.62
$ 362,262
16.30
$ 332,365
15.99
Operating expenses
228,126
9.09
195,511
8.80
175,769
8.46
Operating income $ 189,089 7.53 $ 166,751 7.50 $ 156,596 7.53
Grandview
Sales
$2,081,391
100.00
$1,908,976
100.00
$1,7213,350
100.00
Cost of goods sold
1,774,629
85.27
1,639,540
85.89
1,4_50,507
84.26
Gross profit
$ 306,762
14.73
$ 269,436
14.11
$ 270,843
15.74
Operating expenses
188,805
9.08
165,773
8.68
147,045
8.54
Operating income $ 117,957 5.65 $ 103,663 5.43 $ 123,798 7.20
III
ENTERPRISE FUNDS (CONTINUED)
Liquor Fund (Continued)
During 1980 net income for all stores was $448,119. Transfers to other funds during
the -year were $400,000 or 89.3 of net income. The $400,000 transfer was the
equivalent of a .95 mill tax levy.
Swimming Pool Fund - The Swimming Pool Fund accounts for the operations of the City -
owned swimming pool. Shown below is a condensed summary of operations for the last
three years.
1980 1979 1978
Operating revenue $ 59,109 $ 52,008 $ 51,789
Operating expenses 77,279 62,425 65,165
Net loss $( 18,170) $( 10,417) $( 13,376)
Golf Course Fund _ The Golf Course Fund.accounts for the operations of the City -owned
golf course. During 1963, revenue bonds in the amount of $825,000 were sold. Revenues
of this fund are pledged for payment of principal and interest on these,bonds, $330,000
of which remain outstanding at December 31, 1980. Shown below is a condensed summary
of operations for the last three years.
Operating revenue
Operating expenses
Operating income
Other revenue (expense)
Net income
1980
$ 490,952
400,753
$ 90,199
( 25,765)
1979
$ 403,224
342.420
$ 60,804
( 21,838)
1978
$ 404,475
301,783
$ 102,692
( 1.5,369)
$ .64,434 . $ 38,966 $ 87,323
Recreation Center Fund - The Recreation Center Fund accounts for the operations of the
City -owned recreation center. During 1965, 1969 and 1978 revenue bonds in the amounts
of $450,000, $100,000 and $370,000 respectively were sold, $400,000 of which remain
outstanding at December 31, 1980. Revenues of this fund are pledged for payment of
principal and interest on these bonds. Shown below is .a condensed summary of
operations for the last three years.
Operating revenue
Operating expenses
Operating income (loss)
Other revenue..(expense)
Net loss
1980 1979 1978.
$ 234,979 $ 241,808 $ 194,547
340,404 267,797 257,465
$( 105,425) $( 25,989) $( 62,918)
( 7,010) (_ 8,285) ( 5,003)
$( 112,435) $L_34,274) $( 67,921)
Gun Range Fund - The Gun Range Fund accounts for the operations of the City -owned
gun range. Shown below is a condensed summary of operations for the last three years.
Operating revenue
Operating expenses
Net income (loss)
1980
$ 18,025
17.753
$ 272
IV
1979
$ 18,179
18,086
$ 93
1978
$ 13,742
14,178
$ ( 436)
ENTERPRISE FUNDS (CONTINUED)
Art Center Fund - The Art Center Fund accounts for the operations of the City -owned
Art Center which was established during 1977. Shown below is a condensed summary
of operations for the last three years.
Operating revenue
Operating expenses
Operating loss
Other revenue (expense)
Net, loss
HOME IMPROVEMENT PROGRAMS
1980 1979 1978
$ 50,677 $ 48,840 $ 32,946
67,579 69,168 44,411
$( 16,902) $( 20,328) $( 11,465)
4,076 ( 3,624) 8,499
$( 12,826) . $( 23,952) $( 2,966)
The City administers two home improvement programs, the MHFA Grant Fund and City of
Edina Deferred Payment Home Improvement Loan Program. Revenue is received from the
State of Minnesota and Department of Housing and Urban Development, respectively,
and is disbursed in accordance with the requirements of each program from separate
accounts maintained with the First Edina National Bank. The administrative allowance
received from the State of Minnesota in connection with the MHFA Grant Fund is
transferred to the General Fund to defray administrative expenses of the program.
Financial information relating to these programs is not included in these financial
statements.
GENERAL FIXED ASSETS
This group of accounts is used to accumulate property and equipment which are of
a general benefit to the City. The fixed assets acquired are recorded as expense
in funds, other than the proprietary funds, at the time of purchase. Such assets
are capitalized at cost in this group of accounts. No depreciation has been
provided on the General Fixed Assets.
GENERAL LONG -TERM DEBT GROUP OF ACCOUNTS
This group of accounts is used to account for the general obligation bonds.which
are to be paid by general revenues.
The debt reflected in this account is an obligation of the City as a whole and not
of any of the City's individual funds. .
U
SECTION II
FINANCIAL SECTION
GEORGE M. HANSEN COMPANY, P.A.
A Pro essional Corporation of Certified Public Areoenttants
175 SOUTH PLAZA BUILDING
MINNEAPOLIS, MINNESOTA 55416
ACCOUNTANTS' REPORT
The City Council of
Edina, Minnesota
We have examined the combined financial statements of the City of Edina, Minnesota,
as of and for the year ended December 31, 1980, as listed in the table of contents.
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.
The financial statements do not include - depreciation on certain property and
equipment of the proprietary fund types and depreciation expense has not been
included as an operating expense. The amount by which the financial statements
would change, if these items were included cannot be determined.
Except for the omission described in the immediately preceding paragraph, which
does not conform with generally accepted accounting principles, in our opinion, the
combined financial statements referred to above present fairly the financial position
of the City of Edina, Minnesota, at December 31, 1980, and the results of its
operations and changes in financial position of the proprietary fund types for the
year then ended in conformity with generally accepted accounting principles.
Our examination was made for the purpose of forming an opinion on the combined
financial statements taken as a.whole. The combining, individual fund, and account
group financial statements and schedules listed in the table of contents are presented
for purposes of additional analysis and are not a required part of the combined
financial statements of the City of Edina, Minnesota. The information has been
subjected to the auditing procedures applied in the examination of the combined
financial statements and is subject to the same opinion as the combined financial
statements taken as a whole. Our examination did not include the statistical
information listed in the table of contents.
June 5, 1981
2
CITY OF EDINA, MINNESOTA
COMBINED BALANCE SHEET
ALL FUND TYPES AND ACCOUNT GROUPS
DECEMBER 31, 1980
ASSETS
Cash (deficit)
Investments
Taxes receivable
Unremitted
Delinquent
Deferred
Allowance for uncollectible taxes
Accounts receivable
Special assessments receivable
Unremitted
Delinquent
Deferred
Allowance for uncollectible
special assessments
Due from other funds
Due from other governmental units
Other receivable - MWCC
Note receivable
Contractsreceivable
Prepaid expense
Inventories.
Construction in progress
Unallocated construction costs
Property and equipment less
accumulated depreciation
General fixed assets
Amount available in general debt
service funds
_
Governmental
Fund Types
$2,722,346
Special
Debt
General
Revenue
Service
$ 625,570
$ 219,290 $
323,096
325,495
326,637
163,319
46,891
4,159
2,381
50,861
62582
Contracts payable
( 50,861)
( 6,582)
69,632
.1,315
165,761
376,700 11,994 .
1,002,084 111,070 2,233,550
26,539
10,000
Total assets
$2,482,911
$ 674,465.
$2,722,346
LIABILITIES AND FUND EQUITY
Liabilities
Accounts payable
$. 157,421
$ 9,951
Accrued expenses
137,716
26,341
Contracts payable
22,500
Due to other funds
796,788
165,761
Due to other governmental units
27,953
Bonds payable
Deferred revenue
Deposits.
83,711
8,643
Total liabilities
$1,203,589
$ 233,196
Fund equity
Reserves
$. 727,351
$ 224,282
$ 163,663
Invested in fixed assets
Retained earnings
Fund balance
Appropriated
184,800
225,000
2,558,683
Unappropriated
367,171
( 8,013)
Total fund equity
$1,279,322
$ 4411269
$2,722,346
Total liabilities and fund equity
,$22,482,911
$ 674,465
$2,722,346
See accompanying notes to financial statements.
3
Proprietary
Account Groups
Fund Type
General General
Total
Special
Fixed Long -term
(Memorandum only)
Assessment
Enterprise
Assets Debt
1980
1979
$ 1,830,523
$( 652,622)
$ 2,345,857
$ 1,912,251
481,575
176,047
13,473,073
533,763
53,431
58,092
57,443
110,677
250,000
( 57,443)
( 123,177)
515,425
586,372.
420,136
36,939
36,939
40,974
1,220
1,220
454,169
8,480,773
82480,773
6,205,605
( 413,451)
( 413,451)
( 762,440)
3,209,315
1,077,221
41675,230
5,568,577
256,900
26,132
31629,736
3,541,745
560,083
560,083
597,214
59,680
59,680
59,680
26,539
86,301
127,277
127,277
124,043
875,162
885,162
635,104
1,764,934
1,764,934
5,417,012
662,156
662,156
165,102
19,499,551
19,499,551
19,418,584
$10,025,097
10,025,097
9,430,205
$2,558,683_
2,558,683
2,943,366
$16309,664
$22,265.176
$10,025.,097 $2,558,683
$57.038.342
$57,086,983
$ 176,238
$ 343,610
$ 297,436
$ 69,650
42,818
276,525
210,640
302,598
325,098
312,722
2,560,916
1,151,765
4,675,230
5,568,577
155,419
33,399
216,771
52,976
7,950,000
730,000
$2,100,000
10,780,000
10,725,000
560,083
560,083
597,214
523,405
2,534
618,293
871,216
$11,561,988
_
$ 2,696,837
$2,100,000
$17,795,610
$18,635,781
$ 189,287
$ 52,300
$ 1,356,883
$ 1,752,703
17,754,551
$10,025,097
27,779,648
26,908,789
1,761,488
1,761,488
1,802,760
40,617
$ 458,.683
3,467,783
4,033,197
4,517,772
4,876,930
3,953,753
$ 4,747,676
$19,568,339
$10,025,097 $ 458,683
$39,242,.732
538,451,202
$16,309,664
$22.265,176
,10,025,097 $2,558,683
$57,038,342
$57,086 X983
4
CITY OF EDINA, MINNESOTA
COMBINED.STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE
ALL GOVERNMENTAL FUND TYPES
YEAR ENDED DECEMBER 31, 1980
Other sources
Transfers from other funds 315,000 2303,000
Reserve for commitments 37,600
Adjust assessments and uncollectible receivables
Capitalized interest
Bond proceeds
Adjustment of accrued interest
Total revenue and other sources $ 5,955,459 $ 1,147,621
Expenditures
Special
Current
General
Revenue
Revenue
$ 754,849
$ 595
Taxes
$ 2,826,696
$ 368,591
Licenses and permits
229,646
Intergovernmental revenue
143,642
Federal
11,645
223,171
State
1,874,579
87,959
County
93,810
161,928
Charges for services
258,908
73,372
Fines and forfeitures
236,801
Other
20,655
5,296
Interest on investments
39,806
30,629.
Sale and rental of property
10,313
Interest on special.assessments
$ 5,560,680
$ 951,154
Interest on bonds issued
Parkland. dedication
128,603
Reimbursement from other funds
Total revenue
$ 5,602,859
$ 917,621
Other sources
Transfers from other funds 315,000 2303,000
Reserve for commitments 37,600
Adjust assessments and uncollectible receivables
Capitalized interest
Bond proceeds
Adjustment of accrued interest
Total revenue and other sources $ 5,955,459 $ 1,147,621
Expenditures
Current
General government
$ 754,849
$ 595
Public safety
2,929,500
Public works
1,732,689
Unallocated general expense
143,642
Other
Parks
788,631
Capital outlay
161,928
Debt service
Bond principal
Interest and service. charges
Construction costs
Interest
Total expenditures
$ 5,560,680
$ 951,154
Other uses
Reserve for commitments 172,380
Transfer to other funds 15,000 499,300
Adjustment of provision for uncollectible receivables
Bonds issued
Total expenditures and other uses $ 5,748,060 $ 1,450,454
Net increase (decrease) in fund balance $ 207,399 $( 302,833)
Decrease (increase) in reserve and deposit accounts 155,285
Fund. balance January 1, as restated (Note 17) 344,572 364,535
Fund balance December 31 $ 551,971 $ 216,987
See accompanying notes to financial. statements.
Debt
Service
$ 128,391
13,860
Capital
Projects
$ 54,594
2,200
$ 142,251 $ 56,794
$ 350,000
145,261
$ 495,261
31,673
$ 526,934
$( 384,683)
2,943,366
$ 2,558,683
354,300
$ 411,094
Special
Assessment
$ 897,836
60,058
519,463
4.316.130
$ 5,793,487
44,870
398,193
1,400,000
4.442
$ 7,640,992
$ 92 $ 6,760
180,697
1,200
$ 181,989
$ 181,.989
$ 229,105
15,000
( 244,105)
$ -0-
414,481
1,813,830
132,612
1.400.000
$ 3,767,683
$ 3,873,309
(3,400,136)
4,085,216
$ 4,558,389
Total
(Memorandum
only)
1980
1979
$ 3,195,287
$ 2,962,212
229,646
262,212
234,816
229,838
2,860,374
1,898,549
.148,404
83,788.
332,280
357,863
236,801
15.8,196
154,342
169,071
144,353
200,660
12,513
20,550
519,463
333,950
8,381
128,603
128,392
4,316.130
462.751
$12,513,012 $ 7,276,413
899,300
37,600
44,870
398,193
1,400,000
4.442
$15,297,417
$ 755,444
2,929,500
1,732,689
143,642
6,852
788,631
161,928
350,000
559,742
1,994,527
1.200
$ 9,424,155
172,380
514,300
164,285
1.400.000
$11,675,120
$ 3,622,297
(3,229,851)
7,493,584
$7,886.030
647,462
80,588
81,263
21,930
1,500,000
7.627
$ 9,615,283
$ 669,580
2,615,634
1,5.07,306
290,741
5,110
724,425
126,742
350,000
560,621
3,106,532
1.500
$ 9,958,191
117,000
288,429
21,432
1.500.000
$11,885,052
$(2,269,769)
1,909,966
7,853,387
$ 7,493.584
5
I
5i
CITY OF EDINA, MINNESOTA
COMBINED STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE
BUDGET AND ACTUAL - GENERAL AND SPECIAL REVENUE FUND TYPES
YEAR ENDED DECEMBER 31, 1980
General
Budget Actual
Revenue
Taxes.
$2,794,239
$2,826,696
Licenses and permits
192,900
229,646
Intergovernmental revenue
315,000
315,000
Federal
6,000
11,645
State
1,816,648
1,874,579
County
90,641
93,810
Charges for services
277,900
258,908
Fines and forfeitures
159,000
236,801
Other
22,000
20,655
Interest on investments
35,000
39,806
Sales and rental of property
72500
10,313
Parkland dedication
Total revenue
$5,401,828
$5,602,859
Other sources
Appropriated surplus
$ 159,700
Reserve for commitments
37,600
$ 37,600
Transfers from other funds
315,000
315,000
Total other sources
$ 512,300
$ 352,600
Total revenue and other sources
$5,914,128
$5,955,459
Expenditures
General government
$ 732,774
$ 754,849
Public safety
2,970,607
2,929,500
Public works
1,770,299
1,732,689
Unallocated general expense
253,068
143,642
Parks
Current expense
Capital outlay
Total expenditures
$5,726,748
$5,560,680
Other uses
Transfer to other funds 15,000 15,000
Reserve for commitments 172,380 172,380
Total expenditures and other uses $5,914,128 $5,748,060
Net increase (decrease) in fund balance $ -0 $ 207,399
Decrease in reserve and deposit accounts
Fund balance January 344,572
Fund balance December 31 $ 551,971
See accompanying notes to financial statements.
Special Revenue
Budget Actual
$ 364,174 $ 368,591
225,000
2231171
87,959
87,959
29,000
73,372
1,000
5,296
3,000
303,629
23,000
128,603
$ 710,133
$ 917,621
$ 230,000
$
230,000
1,962,538
$ 230,000
$
230,000
332,280
$ 940,133
$1,147,621
23,000
25,951
$ 595
$ 693,133 788,631
22,000 161,928
$ 715,133 $ 951,154
225,000 499,300
$ 940,133 $1,450,454
$ -0- $(302,833)
155,285
364,535
$ 216,987
Total
(Memorandum only)
Budget Actual
$3,158,413 $3,195,287
192,900 229,646
231,000
234,816
1,904,607
1,962,538
90,641
93,810
306,900
332,280
159,000
236,801
23,000
25,951
38,000
70,435
7,500
10,313
128,603
$6,111,961
$6,520,480
$ 159,700
37,600 $ 37,600
545,000 545,000
$ 742,300 $ 582,600
$6,854,261 $7,103,080
$ 732,774
2,970,607
1,770,299
253,068
693,133
22,000
$6,441,881
$ 755,444
2,929,500
1,732,689
143,642
788,631
161,928
$6,511,834
240,000
514,300
172,380
172,,380
$6,854,261
$7,198,514
$ -0-
$( 95,434)
155,285
709,107
$ 768,958
7
CITY OF EDINA, MINNESOTA
COMBINED STATEMENT OF REVENUE,' EXPENSES AND RETAINED EARNINGS
ALL PROPRIETARY FUND TYPES
(ENTERPRISE FUNDS)
YEAR ENDED DECEMBER 31, 1980
OTHER REVENUE
Interest
$
37,734
1980
53,874
1979
SALES AND
COST OF SALES
74,735
Prior year's disposal charges
Sales
$
5,791,832
$
5,209,247
Cost of
sales
Rental income
4,868,033
4,776
4,433,815
4,776
Gross profit_
$
923,799
$
775;432
OPERATING'REVENUE
1,730
1,560
Other
Charges
for services
3,020,606
2,470,831
220,693
Total gross profit and operating revenue
$
3,944,405
$
3,246,263
OPERATING
EXPENSES
4,016,343
$
3,615,523
$
Operating income
$( 71,938)
$( 369,260)
OTHER REVENUE
Interest
$
37,734
$
53,874
Discounts
86,015
74,735
Prior year's disposal charges
18,747
59,588
Current value credit - MWCC
61,020
61,020
Rental income
4,776
4,776
Deferred charges
6,659
6,441
Donations
1,730
1,560
Other
4,012.
3,210
$
220,693
$
265,204
OTHER EXPENSE
Interest and paying agent fees
$
34,314
$
46,375
Other
253
6,888
$
34,567
$
53,263
Net income (loss)
$
114,188
$(
157,319)
TRANSFERS FROM (TO) OTHER FUNDS
(
339,202)
(
359,033)
PROPERTY AND EQUIPMENT CONTRIBUTED BY
SPECIAL ASSESSMENTS
408,059
213,061
DECREASE IN RESERVES
51,650
1,650
RETAINED EARNINGS January 1
19,281,344
19,582,985
RETAINED EARNINGS December 31
$19,516,039
$19,281,344
See accompanying notes to financial statements.
9
CITY OF EDINA, MINNESOTA
COMBINED STATEMENT OF CHANGES.IN FINANCIAL POSITION
ALL PROPRIETARY FUND TYPES
(ENTERPRISE FUNDS)
YEAR ENDED DECEMBER 31, 1980
1980 1979.
Funds provided
Operations
Net income (loss) $ 114,188 $( 157,319)
Item not requiring current outlay of funds
Depreciation 452;860 426,835
$ 567,048 $ 269,516
Contributions in aid to construction 408,059 213,061
Disposal of property and equipment 823 170
Transfers from other funds 60,798. 15,967
Deposits 1,634
Decrease in notes receivable 4,973 4,974_
$1,043,335 $ 503,688
Fund applied
Additions to property and equipment
$ 534,650
$ 728,819
Current installment on long -term debt
145,000
195,000
Transfers to other funds
400,000
375,000
Increase in reserves and deposits
1,121
$1,079,650
$1,299,940
Net increase (decrease)
$( 36,315)
$( 796,252)
Various elements of net change in working capital
Cash
$( 830,679)
$( 522,494)
Investments
144,2.86
Receivables
77,074
84,372
Due from other funds.
49,477
( 109,515)
Due from other governmental units
( 65,228)
Prepaid expenses
7,102
10,818
Inventories
250,058
( 58,129)
Accounts payable
1,112
35,154
Accrued liabilities
( 5,557)
( 52,882)
Due to other funds
291,017
( 133,576)
Due to other governmental units
( 4,977)
Bonds payable
50,000
( 50,000)
Net increase (decrease) in working capital
$( 36,315)
$( 796,252)
See accompanying notes to financial statements.
10
CITY OF EDINA, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 1980
Note 1 - Summary of Significant accounting Policies
The City of Edina operates under the "Optional Plan B" form of government according
to applicable State of Minnesota Statutes. The Statutes prescribes a Council - manager
form of organization. The City provides the following services: public safety,
highways and streets, sanitation, health and social services, culture- recreation,
public improvements, planning and zoning, and general administration.
The accounting policies of the City conform to generally accepted accounting.
principles as applicable to.governments, except that depreciation on certain proprietary
fund type property and equipment is not recorded (Note 2). The following.is a summary
of the more significant policies:
A. Fund Accounting
The accounts of the City are organized on the basis of funds and account
groups, each of which is considered a separate accounting entity. The
operations of each fund are accounted for with a separate set of self -
balancing accounts that comprise its assets, liabilities, fund equity,
revenues, and expenditures, or expenses, as appropriate. Government
resources are allocated to and accounted for in individual funds based
upon the purposes for which they are to be spent and the means by which
spending activities are controlled. The various funds are grouped, in
the financial statements in this report, into six generic fund types
and two broad fund categories as follows:
GOVERNMENTAL FUNDS
General Fund - The General Fund is the general operating fund of the City.
It is used to account for all financial resources except those required to
be accounted for in another fund.
Special Revenue Funds - Special Revenue Funds are used to account for the
proceeds of.specific revenue sources that are restricted to expenditures
for specified purposes.
Debt Service Funds - Debt Service Funds are used to account for the accumu-
lation of resources for, and the payment of, general long -term debt
principal, interest, and related costs.
Capital Projects Funds - Capital Projects Funds are used to account for
financial resources to be used for the acquisition or construction of
major capital facilities and projects.
Special Assessment Funds - Special Assessment Funds are used to account for
the financing of public improvements or services deemed to benefit the
properties against which special assessments are levied.
11
CITY OF EDINA, MINNESOTA
NOTES.TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31. 1980
Note 1 - Summary of Significant Accounting Policies (Continued)
A. Fund Accounting (Continued)
PROPRIETARY FUNDS
Enterprise Funds - Enterprise Funds are used to account for operations
(a) that are financed and operated in a manner similar to private .
business enterprises - where the intent of the governing body is that
the costs (expenses, including depreciation in some funds) of providing
goods or services to the general public on a continuing basis be financed
or recovered primarily through user charges; or (b) where the governing
body has decided that periodic determination of revenues earned, expenses
incurred, and /or net income is appropriate for capital maintenance, public
policy, management control, accountability, or other purposes.
B. Fixed Assets and Long -term Liabilities
The accounting and reporting treatment applied to the fixed assets and
long -term liabilities associated with a fund are determined by its
measurement focus. All governmental funds and expendable trust funds are
accounted for on a spending or "financial flow" measurement focus. This
means that only current assets and current liabilities are generally.
included on their balance sheets; accordingly, their reported fund balance
is considered a measure of "available spendable resources ". Governmental
fund operating statements present increases and decreases in net current
assets. Accordingly, they are said to present a summary of sources and
uses of "available spendable resources" during a period.
Fixed assets used in governmental fund types operations (general fixed
assets) are accounted for in the General Fixed Assets Account Group,
rather than in governmental funds. Public domain general fixed assets
consisting of certain improvements other than buildings, including roads,
bridges, curbs and.gutters, streets and sidewalks, drainage systems, and
lighting systems, are capitalized along with other general fixed assets.
No depreciation has been provided on general fixed assets.
All fixed assets are valued at historical cost or estimated historical
cost if actual cost is not available. Donated fixed assets are valued
at their estimated fair value on the date donated.
Long -term liabilities expected to be financed from governmental funds
are accounted for in the General Long -term Debt Account Group, not in
the governmental funds. The single exception to this general rule is
for special assessment bonds, which are accounted for in Special .assess-
ment funds.
The two account groups are not "funds ". They are concerned only with
the measurement of financial position. They are not involved with
measurement of results of operations.
12
CITY OF EDINA, MINNESOTA
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1980
Note 1 - Summary of Significant Accounting Policies (Continued)
B. Fixed Assets and Long -term Liabilities (Continued)
All proprietary funds and the special assessment funds are accounted for
on a cost of services or "capital maintenance" measurement focus. This
means that all assets and all liabilities associated with their activity
are included on their balance sheets. Their reported fund equity is
segregated into contributed capital and retained earnings or fund balance
components. The operating statements of the funds present increases
(revenues) and decreases (expenses) in net total assets.
Depreciation of all exhaustible fixed assets used by proprietary funds is
charged as an expense against their operations. Accumulated depreciation
is reported on proprietary fund balance sheets. Depreciation has been
provided over the estimated useful lives using the straight -line method.
The City follows the practice of including, as part of property, plant
and equipment of these funds, the cost of collection systems which are.
paid for by assessments against benefited property.
C. Basis of Accounting
Basis_of accounting refers to when revenues and expenditures or expenses
are recognized in the accounts and reported in the financial statements.
Basis of accounting relates to the timing of the measurements made,
regardless of the measurement focus applied.
The General Fund, special. revenue funds, general debt service funds, and
the capital projects fund are accounted for using the modified accrual
basis of accounting. Their revenues are recognized when they become
measurable and available as net current assets.
Expenditures are generally recognized under the modified accrual basis
of accounting when the related fund liability is incurred. Exceptions
to this general rule include:. (1) accumulated unpaid vacation, sick
pay, and other employee amounts which are not accrued; and (2) principal
and interest on general long -term debt which is recognized when due.
The Special Assessment Fund and the proprietary fund types are accounted
for using the accrual basis of accounting, except for interest on special
assessments receivable and special assessment bonds which is recognized
when due. Their revenues are recognized when they are earned, and their
expenses are recognized when they are incurred. Unbilled utility service
receivables are recorded at year end.
13
CITY OF EDINA, MINNESOTA
NOTES TO FINANCIAL STATEMENTS CONTINUED)
DECEMBER 31, 1980
Note 1 - Summary of Significant Accounting Policies (Continued)
D. Budgets and Budgetary Accounting
The City follows these procedures in establishing the budgetary data
reflected in the financial statements:
1. Prior to January 1, the budget is adopted by the City Council.
2. Formal budgetary integration is employed as a management control
device during the year for the General Fund and special revenue
funds.
3. Budgets for the General and special revenue funds are adopted on a
basis consistent with generally accepted accounting principles (GAAP).
4. Reported budget amounts are as originally adopted or as amended by
Council approved supplemental appropriations and budget transfers.
E. Cash and Temporary Investments
Cash surpluses are invested in certificates of deposit and short -term
government securities. Investment earnings are allocated to funds on
the basis of individual participation. Investments are stated at cost,
which approximates market, and are identified with specific funds.
F. Accumulated Unpaid Vacation and Sick Pay
Accrued vacation and sick pay are not recorded as liabilities at
December.31, 1980. City employees are entitled to vacation and sick
pay based on length of employment and the payment thereof is treated as
expense in the period paid. The amount of accrued leave at December 31,
1.980 for vacation and sick pay was $225,918 and $1,015,880 respectively,
although it is anticipated that only a percentage of the accrued sick
pay will be used.
G._ Comparative Data
Comparative data for the prior year have been presented to provide an
understanding of changes in the City's financial position and operation.
Certain 1979 amounts have been reclassified to conform to the 1980
presentation.
H. Total Columns on Combined Statements - Overview
Total columns on the combined statements - •overview are captioned
memorandum only to indicate that they are presented only to facilitate
financial analysis. Data in these columns do not present financial
position, results of operations, or changes in financial position in
conformity with generally accepted accounting principles. Neither is
such data comparable to a consolidation. Interfund eliminations have
not been made in the aggregation of this data.
14
CITY OF EDINA, MINNESOTA
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1980
Note 1 - Summary of Significant Accounting Policies (Continued)
I. Property Taxes
Allowances are provided for the full amount of delinquent taxes receivable.
This has the effect of recognizing property tax revenues at the time
property taxes are collected.
J. Deferred Taxes Receivable
General debt service funds - Through the year ended December 31, 1979,
deferred tax revenue in the amount of the principal and interest due over
the life of a bond issued was established as deferred tax revenue at time.
of issuance of bonded indebtedness. Annual adjustments were made to reflect
decreasing liabilities, current collections and allowance for delinquent
taxes receivable. At December 31, 1980 existing balances in these accounts
were written off or restated so that henceforth, taxes will be recognized
as revenue when collected.
K. Inventories
Inventories - Inventories held by the proprietary funds are stated at cost,
which is lower than market on a first -in, first -out basis.
Note 2 - Depreciation Proprietary Funds` Property and Equipment
Certain property and equipment of the proprietary funds has not been depreciated
and related depreciation expense is not included as an operating. expense. The amount
by which the related expense would affect the financial statements has not been
determined. The City has adopted the policy of not recording depreciation on items
of property and equipment which will not be replaced from operating revenues. Such
a policy is not in accordance with generally accepted accounting principles. The
following property and equipment has not been depreciated:
Cost
Swimming Pool Fund - Pool, bathhouse and filter system $ 316,054
Golf Course Fund - Buildings, well, parking lot and road 229,426
Recreation Center Fund - Land improvements and building 937,365
Gun Range Fund - Land improvements and building 63,822
Art Center Fund - Land improvements and building 112,695
$1,659,362
Note 3 - Bonded Debt
The City has three types of bonded debt outstanding at December 31, 1980. There
are general obligation bonds, special assessment improvement bonds, and revenue bonds.
The first type of bond is payable solely from general property taxes. The second and
third types are payable primarily from special assessments and enterprise revenue
respectively with any deficiency to be provided for by general property taxes.
15
CITY OF EDINA, MINNESOTA
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1980
Note 3 - Bonded Debt (Continued)
The bonded debt outstanding at December 31, 1980 is summarized as follows:
Maturities Interest rates Amount
General Obligation Bonds 1981 -1993 3.90 -6.50 $ 2,100,000
Special Assessment Bonds 1981 -1986 4.25 -7.35 7,950,000
Revenue Bonds 1981 -1987 .3.00 -5.25 730,000
$10,780,000
Changes in bonded debt during the year were as follows:
Bonds Bonds
Outstanding Outstanding
January 1 Issued Redeemed December 31
General Obligation Bonds $ 2,450,000 $ 350,000 $ 2,100,000
Special Assessment Bonds 7,350,000 $1,400,000 800,000 7,950,000
Revenue Bonds 925,000 195,000 730,000
$10.7 ?5,000 $1.400.000 $1,345,000 $10,780.000
The City has outstanding the following revenue bonds:
Golf Course Bonds of 1964 $330,000
Recreation Center Bonds, Series A of 1965 60,000
Recreation Center Bonds, Series B of 1965 30,000
Recreation Center Bonds, Series D of 1978 310,000
12211-0-00
These revenue bond issues are payable primarily from the respective enterprise fund
with any deficiency to be provided first.from Liquor Fund revenue and then from
general property taxes.
The annual requirements to amortize all debt outstanding as of December 31, 1980,
including interest payments of $1,924,375 are as follows:
Annual Requirements to Amortize Long -term Debt
December 31, 1980
Year Ending
General
December 31
Obligation
1981
$ 225,500
1982
222,750
1983
217,250
1984
211,750
1985
206,150
1986 -1990
1,305,600
1991 -1995
794,050
Special
Assessment
$5,911,250
920,100
879,700
339,300
326,400
313,200
Revenue
$ 175,405
169,485
128,565
123,745
128,925
105,250
Total
$ 6,312,155
1,312,335
1,225,515
674,795
661,475
1,724,050
794.050
$3,183,050 $8,689,950 $ 8312375 $12,704;375
W
CITY OF EDINA, MINNESOTA
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31., 1980
Note 3 - Bonded Debt (Continued)
$2,558,683 is available in the General Debt Service Fund to.service the general
obligation bonds.
The City is in compliance with all significant bond covenants.
Note 4,- Changes in General Fixed Assets
A summary of changes in general fixed assets follows:
Balance
Removals or
Balance
January 1
Additions
Transfers
December 31
Land
$ 707,117
$1,573,000
$ 2,280,117
Land improvements
1,252,481
68,921
1,321,402
Buildings
1,493,080
1,493,080
Furniture and fixtures 154,267
6,783
161,050
Vehicles
107,591
31,457
139,048
Tools
5,812
5,812
Election equipment
13.1,320
131,320
Engineering equipment
50,347
542
$ 1,834
49,055
Fire equipment
389,081
33,618
422,699
Highway equipment
903,564
151,046
15,060
1,039,550
Park equipment
188,550
9,364
197,914
Police equipment
271,624
72,900
42,000
302,524
Miscellaneous
equipment
80,117
8,079
88,196
Traffic signals
equipment
91,706
91,706
Parks
2,289,571
8,470
2,281,101
Construction in
progress
3,603,548
20,523
3,603,548
20,523
.
$9,430 205
$4,265,804
$3,670.,912
$10,025,097
17
CITY OF EDINA, MINNESOTA
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1980
Note 5 - Proprietary Fund Property and Equipment
A summary of proprietary fund property and equipment at December 31, 1980 follows:
Property and
Accumulated
Net
Estimated
Enterprise funds
equipment
depreciation
book value
useful life
Land $
285,341
$ 285,341
Golf course
726,414
726,414
Land improvements
136,293
$ 24,337
111,956
25
Water distribution
system
8,705,865
2,530,939
6,174,926
5 -50
Sewer collection
system
10,356,436
1,948,454
8,407,982
100
Major recreation
facilities
1,536,310
1,536,310
Major water facilities
2,585,082
1,705,168
879,914.
5 -25
Buildings
658,333
146,190
512,143
25
Furniture and fixtures
300,313
137,873
162,440
10
Equipment and machinery
426,959
255,805
171,154
5 -10
Vehicles
25,457
15,289
10,168
5
Construction in
progress
520,803
520,803
26 263,606 56,764,055 $19,499,551
Note 6 - Metropolitan Waste Control Commission
The receivable and corresponding deferred revenue of the" Enterprise Funds from
the Metropolitan Waste Control Commission represents the City's share of Equity in
the City's system which was acquired by the Commission January 1, 1971. This receiq-
able will be paid to the City by issuing credits, annually through 1999, against
future sewer billings from the Commission. These credits will be reflected in the
statement of income as received.
Under the terms of an agreement with the Metropolitan Waste Control Commission, the
City will be repaid the reserve capacity charges advanced to the Commission in annual
installments including interest through 1988. These advances will be reflected as
income when received.
Note 7 - Purchase Commitments
The City has entered into two purchase agreements for the purchase of duplicating
machines. At December 31, 1980, $9,168 remained outstanding on these commitments,
to be paid in accordance with the following schedule.
Date Principal
Interest
1981 $4,954
$ 367
1982 4,214
127
19,168
494
18
CITY OF EDINA, MINNESOTA
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1980
Note 8 - Notes Receivable
During 1977, the City sold several properties for notes or contracts receivable
the balances of which were $59,680 in the Liquor Fund and $26,539 in the General
Fund at December 31, 1980. Maturity dates range from 1981 to 1992 with interest
rates from 7% to 10.51 %. Payments have been received according to the contract
schedules.
Note 9 - Retirement Plan
The City participates in a state -wide contributory pension plan under the Public
Employees' Retirement Association, Minnesota Statutes Chapter 353, which covers
all employees except certain temporary or seasonal employees. The City's
contribution for pension costs, under the state -wide plan was $350,019 for the
year ended December 31, 1980. Under existing Minnesota law, the City has no future
contingent obligations or commitments to the plan or its participants except to
make continuing contributions as determined from time to time by the State
Legislature.
Note 10 - Segment Information for Enterprise Funds
The City maintains operating funds for water and sewer services and liquor facilities.
Individual funds are also maintained for other enterprise operations which are
recreational in nature such as; Swimming Pool, Golf Course, Recreation Center, Gun
Range and Art Center. Segment information for the year ended December 31, 1980
is as follows:
Sales (less cost of
$4,868,033)
Operating revenue $
Depreciation
Net income (loss)
before transfers
Operating transfers
In
Out
Current capital
Contributions
Property, plant
and equipment
additions - Net
Water Sewer
works rental. L_ iquor
778,195 $1,388,669
268,847 113,274
46,821) ( 208,385)
71,051 337,008
81,954 347,290
Net working
capital 1,017,521 ( 181,065)
$ 923,799
45,962
448,119
400,000
Other
Enterprise
funds
$ 853,742
24,777
( 78,725)
60,798
12,715 89,415
681,520 ( 716,361)
Total
Enterprise
funds
$ 923,799
3,020,606
452,860
114,188
60,798
400,000
408,059
531,374
801., 615
CITY OF EDINA, MINNESOTA
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1980
Note 10 - Segment Information for Enterprise Funds (Continued)
Bonds and other
long -term
liabilities
Payable from
Operating
Revenue
Total assets
Total equity
Water Sewer
works rental Liquor
$8,284,599 $8,906,967 $2,241,561
8,211,549 8,283,130 2,073,878
Note 11 - Deposits Payable
Other Total
Enterprise Enterprise
funds funds
$ 730,000 $ 730,000
2,832,049
947,482
22,265,176
19,516,039
19
Included in deposits payable are balances of $83,711 in the General Fund and $463,410
in the special assessment funds which represent the balance of monies received from
the Minnesota Department of Transportation for state -aid projects which were incomplete
at December 31, 1980. Upon completion of projects for which monies were received,
deposits will be applied to construction in progress.
Note 12 - Deficiency in Pledged Collateral
Minnesota Statutes require depositories for City funds to pledge collateral to secure
balances in excess of F.D.I.C. insurance coverage. The amount of deposits at a
depository cannot exceed the F.D.I.C, insurance plus ninety percent of the market
value of securities pledged as collateral by the depository. At December 31, 1980
the collateral pledged by the First National Bank Minneapolis and Southwest Fidelity
State Bank were approximately $335,000 and $25,000 respectively below the statutory
requirement.
Note 13 - Bond Proceeds
In 1975 the City issued General Obligation Park Bonds of $950,000. The proceeds of the
issue are recorded in the General Debt Service Fund and transfers are made to the
Capital.Projects Fund, Park, or General Fund for land acquisition. Transfers totaling
$786,337 have been made during years ended December 31, 1975 through 1980 leaving a
balance of $163,663 at December 31, 1980.
Note 14 - Edina Firemen's Relief Association
The Edina Firemen's Relief Association is the pension fund for the City's volunteer
fire department employees. Funding for the pension plan is provided from the 2%
insurance premium rebate from the State of Minnesota. The City is responsible for
any unfunded portion of the Relief Association's accrued liability. As of
December 31, 1980 there was no unfunded liability.
WE
CITY OF EDINA, MINNESOTA
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1980
Note ,15 - Interfund Receivable and Payable Balances
Such balances at December 31,.1980 were:
Fund
General
Special Revenue
Park
Special Assessment
Permanent.Improvement Revolving
Improvement Bond Redemption - I
Improvement Bond Redemption - II
Construction
Enterprise
Waterworks
Sewer Rental
Liquor
Golf Course
Recreation Center
Gun Range
Interfund Interfund
receivables payables
$ 376,700 $ 796,788
11,994 165,761
200,000
6,943
109,875
515,562
1,851,563
100,747
1,.047,877
1,937,664
341,253
48,848
52,753
415,000
13,786
563,512
320,713
472,866
255
$4.675,230 $4,675.230
Note 16 - Reserved and Appropriated Fund Equity
The December 31, 1980 fund equities classified as reserved and appropriated as
as follows:
RESERVED
Park
acquisition
Dedicated and Assessment
Fund funds Commitments improvement adjustments Other
General $ 87,123 $623,338 $ 16,890
Special
Revenue
Park
Debt Service
Park service
Special
Assessment
IBR
IBR II
Enterprise
Recreation
Center
(for debt
service)
Total $ 87,123
$224,282
163,663
$217,694
(28,407)
52,300
$623,338, $387.945 $189.287 $ 69,190
Total
$ 727,351
224,282
163,663
217,694
( 28,407)
52,300
51,356.883
21
CITY OF EDINA, MINNESOTA
NOTES. TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1980
Note 16 - Reserved and Appropriated
Fund
Equity (Continued)
APPROPRIATED
Current
Debt
Fund
Operations
Service Construction
Total
General
$184,800
$ 184,800
Special Revenue
Revenue Sharing
225,000
225,000 .
General Debt Service
Redevelopment Sinking
$2,233,550
2,233,550
Park Sinking
325,133
325,133,
Special Assessment
Construction
$ 40,617
40,617
General Long -term Debt
Account Group
458,683
458,683
Total
5409,80
$3,017,366 40,617
$3,467,783
Note 17 - Prior Period Adjustments
Certain fund balances, as rioted below, have been restated to reflect the liability
of the Edina HRA to the City for unpaid redevelopment bond principal as well as to
eliminate deferred taxes receivable and the related reserve for uncollectibles.
Fund balance January 1, 1979
Eliminate deferred taxes receivable
. less allowance for uncollectible taxes
Record receivable from HRA for unpaid
bond principal
Fund balance January 1, 1979, as restated
Previously reported
Net (decrease) in fund balance
Decrease in reserve for
land acquisition
Prior period adjustment
General Debt Service
Funds
Fund Balance Revenue
$ 4,423,190
(3,311,300)
2,150,000
$ 3,261,890
( 493,812)
47,038
Record advances from HRA 128,250
Fund balance December 31, 1979, as restated $ 2,943,366
Revenue and other sources, as previously
reported
Revenue and other sources, as restated
$128,250
63,567
$191,817
General Long-
term Debt
Account Group
$ 1,623,190
(3,311,300)
2,150,000
$ 461,890
( 96,774)
128,250
$ 493,366
22
CITY OF EDINA, MINNESOTA
GENERAL FUND
BALANCE SHEET
DECEMBER 31, 1980 AND 1979
LIABILITIES AND FUND EQUITY
Liabilities
Accounts. payable
1980
1979
ASSETS
84,247
Accrued payroll
Cash
$ 625,020
$ 236,831
Petty cash and change funds
550
550
Departmental. cash
2,335
Investments
27,953
Land
24,500
1,007
Donated securities
995
995
U. S. Government Securities
300,000
$1,203,589
Receivables
$
633,380
Accounts receivable
69,632
27,969
Contracts receivable
26,539
86,301
Due from Edina HRA
901,035
1,044,236
Due from other governmental units
101,049
95,297
Unremitted taxes receivable
46,891
52,007
Delinquent taxes receivable
50,861
92,924
Allowance for uncollectible taxes
( 50',861)
( 92,924)
Due from other funds
376,700
280,305
Prepaid expense
Reserve for commitments
3,868
Inventories
10,000
10,000
Total assets
$2,4.82,911
$1,841,701
LIABILITIES AND FUND EQUITY
Liabilities
Accounts. payable
$
157,421
$
84,247
Accrued payroll
137,716
102,570
Deposits payable
83,711
84,433
Due to other governmental units
27,953
47,360
Due to other funds
796,788
314,770
Total liabilities
$1,203,589
$
633,380
Fund equity
Reserves
Dedicated funds
$
87,123
$
114,323
Reserve for Morningside
10,788
Reserve for impressed cash and inventory
10,550
10,550
Reserve for commitments
623,338
728,088
Other reserves
6,340
Total reserves
$
727,351
$
863,749
Fund balance
Appropriated
$
184,800
$
159,700
Unappropriated
367,171
184,872
Total fund balance
$
551,971
$
344,572
Total fund equity
$1,279,322
$1,208,321
Total liabilities and fund equity
$2,482,911
51,841,701
CITY OF EDINA, MINNESOTA
GENERAL FUND
STATEMENT OF CHANGES IN FUND BALANCE
YEARS ENDED DECEMBER 31, 1980 AND 1979
Revenue.and_ other sources
Expenditures and other uses
Net increase (decrease) in
fund balance
Fund balance January 1
Fund balance December 31
1980
1979
Budget
Actual
Actual
$5,914,128
$5,955,459
$5,282,145
5,914,128
5,748,060
5,325,161
$ -0-
$ 207,399
$( 43,016)
344,572
387,588
$ 551,971
$ 344,572
23
24
CITY OF EDINA, MINNESOTA
GENERAL FUND
STATEMENT OF REVENUE
YEARS ENDED.DECEMBER 31, 1980 AND 1979
1980 1979
Budget Actual Actual
Taxes
General property tax $2,764,239 $2,795,369 $2,574,799
Penalties and interest 30,000 31,327 30,682
Total taxes $2,794,239 $2,826,696 $2,605,481
Licenses and permits $ 192,900 $ 229,646 $ 262,212
Intergovernmental revenue
Federal aid
$
6,000
$
11,645
$ 6,874
State grants
17,650
Donations
1,025
473
Local government aid
22,000
977,875
38,866
980,530
919,699
Homestead credit
$ 82,277
645,029
,$5,401,828
645,029
326,265
State highway aid
54,000
54,465
54,465
Police aid
100,000
100,000
96,300
Planning aid
15,074
8,975
20,592
State aid - Trees
16,500
74,992
Other state aid
.8,170
10,588
3,530
County grants
Health programs
90,641
93,810
83,788
.Total intergovernmental revenue
$1,913,289
$1,980,034
,$1,511,513
Charges for services
Engineering, clerical charges
and searches
$
128,000
$
137,331
$ 209,095
Planning fees
14,000
18,920
10,112
Automobile licenses
19,556
Housing and redevelopment: authority
1,500
Charges to other funds
482600
48,600
39,900
Ambulance service
75,000
42,860
Other
10,800
11,,197
14,990
Total charges for services
$
277,900.
$
258,908
$ 293,653
Fines and forfeitures
$
159,000
$ 236,801
$ 158,196
Miscellaneous revenue
Interest
$ 35,000
$ 39,806
$ 25,288
Sale and rental of property
7,500
10,313
17,650
Donations
1,025
473
Other
22,000
19,630
38,866
Total miscellaneous revenue
$ 64,500
$ 70,774
$ 82,277
Total revenue
,$5,401,828
$5,602,859
$4,913,332
25
CITY OF EDINA, MINNESOTA
GENERAL FUND
STATEMENT OF REVENUE (CONTINUED)
YEARS ENDED DECEMBER 31, 1980 AND 1979
1980
1979
Budget
Actual
Actual
Other sources
Transfers from other funds
Revenue Sharing Fund
$ 225,000
$
225,000
$
225,000
Liquor Fund
90,000
90,000
63,225
Total transfers.
$ 315,000
$
315,000
$
288,225 -
Reserve for commitments
37,600
37,600
80,588
Appropriated surplus
159,700
Total .other sources
$ 512,300
$
352,600
$
368,813
Total revenue and other sources
$5,914,128
$5,955,459
$5,282,145
26
CITY OF EDINA, MINNESOTA
GENERAL FUND
STATEMENT OF EXPENDITURES
YEARS ENDED DECEMBER 31, 1980 AND 1979
Planning
Personal services
1980
$ 67,298
1979
Contractual services
Budget
Actual
Actual
General government
750
4,044
330
Mayor and council
21,600
21,600
21,600
Personal services
$ 14,300
$ 14,398
$ 14,300
Contractual services
200
370
146
Commodities
200
5
Central services
9,240
9,240
11,820
$ 23,940
$ 24,008
$ 26,271
Planning
Personal services
$ 65,283
$ 67,298
$ 63,779
Contractual services
985
599
999
Commodities
750
4,044
330
Central services
21,600
21,600
21,600
Capital outlay
$ 88,618
$ 93,541
$ 86,708
Administration
Personal service
$ 133,232
$ 137,967
$ 119,490
Contractual services
21,195
23,192
19,289
Commodities
700
482
1,575
Central services
38,400
38,400
37,560
Capital outlay
$ 193,527
$ 200,041 -
$ 177,914
Finance
Personal services
$ 90,707
$ 90,701
$ 97,687
Contractual services
20,431
20,893
19,756
Commodities
200
139
449
Central services
24,960
24,960
28,920
Capital outlay
$ 136,298.
$ 136,693
$ 146,363
Election
Personal services
$ 26,576
$ 26,528
$ 4,394
Contractual services
10,645
10,872
1,456
Commodities
2,120
4,064
449
Central services
4,560
4,560
4,080
Capital outlay
$ 43,901
$ 46,024
$ 10,379
Assessing
Personal services
$ 87,370
$ 86,961
$ 83,384
Contractual services
3,400
3,391
4,700
Commodities
1,300
708
251
Central services
28,620
28,620
28,500
Capital outlay
300
810
$ 120,990
$ 119,680
$ 117,645
27
CITY OF EDINA, MINNESOTA
GENERAL FUND
STATEMENT OF EXPENDITURES (CONTINUED)
YEARS ENDED DECEMBER 31, 1980 AND 1979
Civil defense
Personal services
1980
$ 371
$ 610
1979
1,900
Budget
2,524
Actual
Actual
General government (continued)
81
Capital outlay
3,422
7,066
Legal and Court Services
Capital outlay
$ 6,191
$ 9,704
$ 3,215
Personal services
$ 25,000
$
28,726
$ 27,803
Contractual services
100,500
106,136
77,307
$ 125,500
$
134,862
$ 105,110
Total general government
$ 732,774
$
754,849
$ 670,390
Public safety
Police protection
Personal services
$1,137,864
$1,099,436
$1,046,250
Contractual services
46,774
42,660
26,691
Commodities
14,625
12,913
10,066
Central services
396,120
396,120
362,040
Capital outlay
73,016
72,900
37,716
$1,668,399
$1,624,029
$1,482,763
Fire protection
Personal services
$ 679,970
$
679,683
$ 624,512
Contractual services
28,108
28,464
26,573
Commodities
18,360
19,868
19,783
Central services
217,260
217,260
206,760
Capital outlay
33,620
33,.619
13,752
$ 977,318
$
978,894
$ 891,380
Civil defense
Personal services
$ 469
$ 371
$ 610
Contractual services
1,900
1,871
2,524
Commodities
400
396
81
Capital outlay
3,422
7,066
21,720
Capital outlay
$ 6,191
$ 9,704
$ 3,215
Public health
Personal services
$ 54,527
$ 51,855
$ 56,040
Contractual services
96,485
95,828
87,236
Commodities
2,598
2,480
1.,805
Central services
22,860
22,860
21,720
Capital outlay
500
311
282
$ 176,970
$ 173,334
$ 167,083
28
CITY OF EDINA, MINNESOTA
GENERAL FUND
STATEMENT OF EXPENDITURES (CONTINUED)
YEARS ENDED DECEMBER 31, 1980 AND 1979
1980 1979
Budget Actual Actual
Public safety (continued)
$ 88,734
$ 88,733
$
Animal control
Contractual services
1,805
5,214
Personal services
$ 13,050
$ 12,410
$ 10,877
Contractual services
3,550
2,754
2,592
Commodities
500
445
370
Central services
6,600
6,600
5,520
103,584
$ 23,700
$ 22,209
$ 19,359
Inspections
Personal services
$ 88,734
$ 88,733
$
75,848
Contractual services
1,805
5,214
Commodities
464
Commodities
1,630
1,523
49,620
932
Central services
25,860
25,860
543
26,340
$ 118,029
$ 121,330
$
103,584
Total public safety
$2,970,607
$2,929,500
$2,667,384
Public works
Administration
Personal services
$ 41,456
$ 41,351
$
35,925
Contractual services
75
52
222
Commodities
50
42
86
Central services
13,440
13,440
11,580
$ 55,021
$ 54,885
$
47,813
Engineering
Personal services
$ 164,886
$ 167,217
$ 161,228
Contractual services
5,160
4,518
6,011
Commodities
7,500
8,779
7,543
Central services
49,620
49,620
48,360
Capital outlay
2,100
543
10,531
$ 229,266
$. 230,677
$ 233,673
Supervision and overhead
Personal services
$ 125,723
$ 124,784
$ 112,178
Contractual services
500
179
508
Commodities
650
325
219
Central services
145,650
145,680
152,520
$ 272,553
$ 270,968
$ 265,425
CITY OF EDINA, MINNESOTA
GENERAL FUND
STATEMENT OF EXPENDITURES (CONTINUED)
YEARS ENDED DECEMBER 31, 1980 AND 1979
Public works (continued)
Street maintenance
Personal services
Contractual services
Commodities
Central services
Capital outlay
Street lighting
Personal services
Contractual services
Commodities
Central services
Street name signs
Personal services
Commodities
Central services
Traffic control
Personal services
Contractual services
Commodities
Central services
Bridges
Personal services
Commodities
Central services
Storm drainage
Personal services
Contractual services
Commodities
Central services
Budget
$ 213,255
28,750
158,850
154,920
$ 555,775
$ 9,200
175,700
8,910
2,400
$ 196,210
$ 7,670
5,200
.5,040
$ 17,910
$ 21,900
27,600
19,700
9,600
78,800
$ 1,760
1,350
2,400
$ 5,510
$ 42.,140
6,400
12,980
9,600
$ 71,120
1980
Actual
$ 212,753
27,207
157,357
154,920
$ 552,237
$ 9,012
175,535
8,390
2,400
$ 195,337
$ 7,542
5,166
5,040
$ 17,748
$ 19,878
27,221
17,231
9,600
$ 73,930
$ 1,282
1,112
2,400
$ 4,794
$ 39,980
6,379
11,934
9,600
$ 67,893
1979
Actual
$ 212,188
39,823
127,719
129,720
46,385
$ 555,835
$ 9,547
161,556
8,663
1,800
$ 181,566
$ 2,950
1,448
4,200
$ 8,598
$ 14,402
2.4,428
12,050
7,980
$ 58,860
$ 1,341
281
1,800
$ 3,422
$ 26,494
10,460
13,738
7,980
$ 58,672
29
30
CITY OF EDINA, MINNESOTA
GENERAL FUND
STATEMENT OF EXPENDITURES (CONTINUED)
YEARS ENDED DECEMBER 31, 1980 AND 1979
Sidewalks and ramp
Personal services
1980
17,240
1979
8,012
Budget
Actual
Actual
Public works (continued)
21,644
14,575.
City properties
21,036
Commodities
Personal services
$ 69,790
$ 69,498
$ 51,595
Contractual services
43,950
43,258
36,254
Commodities
8,110.
7,066
13,381
Central services
13,800
13,800
12,300
31,560
$ 135,650
$ 133,622
$ 113,530
Sidewalks and ramp
Personal services
$
17,240
$
8,012
$
6,709
Contractual services
21,644
14,575.
21,036
Commodities
11,100
5,973
.6,563
Central services
3,000
3,000
2,520
City's share of special assessments
$
52,984
$
31,560
$
36,828
Capital outlay
$
99,500
$
99,038
40,740
Total public works
$1,770,299
9,800
$1,732,689
9,476
$1,564,222
7,879
Unallocated general expense
Human rights commission
$
32,250
$
19,247
$
22,644
Historical Preservation.Board
5,600
5,564
1,065
South Hennepin Human Services Council
2,588
2,588
2,400
Central services - Capital outlay
21,930
21,887
27,308
City's share of special assessments
68,500
68,920
77,194
Dutch elm subsidy
43,000
42,260
40,740
Recycling
9,800
9,476
7,879
Fireworks
2.,500
2,500
2,042
Contingencies
80,0.00
79,238
40,888
$
266,168
$
251,680.
$
222,160
Central services
$( 13,100)
$( 108,038)
$
68,581
Total expenditures
$5,726,748
$5,560,680
$5,192,737
Other uses
Reserve for commitments
General government
$
14,000
$
14,000
Public works
50,000
50,000
$
- 50,000
Fire
56,380
56,380
15,000
Capital improvement
50,000
50,000
50,000
Animal control
2,000
2,000
2,000
$
172,380
$
172,380
$
117,000
CITY OF EDINA, MINNESOTA
GENERAL FUND
STATEMENT OF EXPENDITURES (CONTINUED)
YEARS ENDED DECEMBER 31, 1980 AND 1979
Other uses (continued)
Transfers to other funds
Swimming Pool -
Recreation Center
Municipal State -aid Street
Bond Fund
Total other uses
Total expenditures and
other uses
1980 1979
Budget Actual Actual
$ 7,500 $ 7,500 $ -7,500
7,500 71500 7,500
424
$ 15,000 $ 15,000 $ 15,424
$ 187,380 $ 187,380 $ 132,424
$5,914,,128 $5,748,060 55,325,161
31
32
CITY OF EDINA, MINNESOTA
GENERAL FUND
SCHEDULE OF CENTRAL SERVICES EXPENDITURES
YEARS ENDED DECEMBER 31, 1980 AND 1979
General
Contractual services
Commodities
City hall
Personal services
Contractual services
Commodities
Fixed charges
Public works building
Personal services
Contractual services
Commodities
Fixed charges
Equipment operations
Personal services
Contractual services
Commodities
Fixed charges
Total Central Services expenditures
Less allocation to other activities
Net Central Services
1980 1979
Budget Actual Actual
$1,044,160 $ 892,398 $1,047,803
18,200 16,219 13,226
$1,.062,360 $ 908,617 $1,061,029
$ 34,100 $ 34,019 $ 32,494
22,248 24,657 17,699
11,632 11,900 10;926
4,320 4,320 4,98O
$ 72,300 $ 74,896 $ 66,099
$ 17,790 $ 17,433 $ 21,212
41,950 42,519 40,910
5,300 7,762 14,392
3,420 3,420 3,720
$ 68,460 $ 71,134 $ 80,234
$ 149,140 $ 149,090 $ 131,840
50,500 50,420 56,269
247,400 301,065 241,029
75,240 75,240 70,561
$ 522,280 $ 575,815 $ 499,699
$1,725,400 $1,630,462 $1,707,061
1,738,500 1,738,500 1,638,480
$( 13,100) $(.108.038) S 68,581
CITY OF EDINA, MINNESOTA
SPECIAL REVENUE FUNDS
COMBINING BALANCE SHEET
DECEMBER 31, 1980
(With comparative totals for December 31, 1979)
ASSETS
Cash
Investments
Receivables
Accounts receivable
Due from other
governmental units
Unremitted taxes
receivable
Delinquent taxes
receivable
Allowance for delinquent
taxes
Due from other funds
Total assets
LIABILITIES AND
FUND EQUITY
Liabilities
Accounts payable
Accrued payroll
Contracts payable
Due to other funds
Deposits
Total liabilities
Fund equity
Reserve for park
acquisition and
improvement
Fund balance (deficit)
Appropriated
Unappropriated
Total fund balance
(deficit)
Total fund equity
Total liabilities and
fund equity
Revenue Nursing I Totals
Sharing Services Park 1980 1979
$122,486 $ 34,763 $ 62,041
163,318 163,319
1,315
56,476 54,594
4,159
5342,280 $ 34,763
6,582
( 6,582)
11,994
$297,422
$ 9,951
26,341
22,500
165,761
8.643
$233,196
$219,290
326,637
1,315
111,070
4,159
6,582
( 6,582)
11,994
$674.465
$ 9,951
26,341
22,500
165,761
8.643
$233,196
$689,252
2,376
56,074
3,270
10,683
(10,683)
43,521
$794,493
$ 6,661
13,837
18,874
39,372
5342,280 5 34,763 $ 297,422 $674,465 $794,493
33
$224,282
$224,282
$390,586
$225,000
$225,000
$225,000
117,280
$ 34,763 $(160,056)
8,013)
139,535
$342,280
$ 34,763 $ (160,056)
$216,987
$364,535
$342,280
$ 34,763 $ 64,226
$441,269
$755,121
5342,280 5 34,763 $ 297,422 $674,465 $794,493
33
34
CITY OF EDINA, MINNESOTA
SPECIAL REVENUE FUNDS
COMBINING STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE
YEAR ENDED DECEMBER 31, 1980
(With comparative totals for year ended December 31, 1979)
(Increase) decrease in
deposits
(Increase) decrease in
reserve for park
acquisition and improvement
Fund balance January 1 328,851 $ 34,763
( 11,019) ( 11,019) 4,872
166,304 166,304 ( 128,392)
921 364,535 358,597
Fund balance (deficit)
December 31 $342,280 1-!A-,763 8( 160,056) S 216,987 $ 364,535
Revenue
Nursing
Totals
Sharing
Services
Park
1980
1979
Revenue
Taxes
$
368,591
$
368,591
$
356,731
Intergovernmental. revenue
Federal grant -
Federal revenue
sharing
$223,171
223,171
222,964
State grants
Homestead credit
87,959
87,959
44,850
State 'aid - Trees
4,995
Charges for services
73,372
73,372
64,210
Miscellaneous revenue
Interest
15,853
14,776
30,629
41,717
Other.
5,296
5,296
1,482
Parkland dedication
128,.603
128,603
128,392
Total revenue
$239,024
$
678,597
$
917,621
$
865,341
Other sources - Transfers
from.other funds
230,000
230,000
231,775
Total revenue and
other sources
$239,024
$
908,597
$1,_147,621
$1,097,116
Expenditures
Current expenditures
$ 595
$
788,631
$
789,226
$
724,425
Capital outlay
_
161,928
161,928
17,266
Total expenditures
$ 595
$
950,559
$
951,154
$
741,691
Other uses - Transfers to
other funds
225,000
274,300
499,300
225,967
Total.expenditures
and other uses
$225,595
$1,224,859
$1,450,454
$
967,658
Net increase (decrease) in
fund balance
$ 13,429
$(
316,262)
$(
302,833)
$
129,458
(Increase) decrease in
deposits
(Increase) decrease in
reserve for park
acquisition and improvement
Fund balance January 1 328,851 $ 34,763
( 11,019) ( 11,019) 4,872
166,304 166,304 ( 128,392)
921 364,535 358,597
Fund balance (deficit)
December 31 $342,280 1-!A-,763 8( 160,056) S 216,987 $ 364,535
CITY OF EDINA, MINNESOTA
REVENUE SHARING FUND
STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE
YEARS ENDED DECEMBER 31, 1980 AND 1979
Revenue
Federal revenue sharing grant
Interest on investments
Total revenue
Expenditures
Contractual services
Other uses - Transfer to General Fund
Total expenditures and other uses
Net increase in fund balance
Fund balance January 1
Fund balance December 31
1980
Budget
Actual
$223,171
15,853
$225,000
$239,024
$ 595
$225,000
225,000
$225,000
$225,595
$ -0-
$ 13,429
328,851
342 280
NURSING SERVICES FUND
STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE
YEARS ENDED DECEMBER 31, 1980 AND 1979
1980
Net increase in fund balance
Fund balance January 1
Fund balance December 31
Budget Actual
S -0- $ -0-
34,763
S 34
,76 3
1979
Actual
$222,964
23.025
$245,989
$225,000
$225,000
$ 20,989
307,862
328 851
1979
Actual
$ -0-
34.763
$ 34,763
35
g7:
CITY OF EDINA, MINNESOTA
PARK FUND
STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE
YEARS ENDED DECEMBER 31, 1980 AND 1979
1980
1979
Budget
Actual
Actual
Revenue
General property taxes
$
364,174
$
368,591
$
356,731
State grants
Homestead. credit.
87,959
87,959
44,850
State aid - Trees
4,995
Registration fees
29,000
73,372
64,210
Interest on investments
3,000
14,776
18,692
Parkland dedication
128,603
128,392
Sale of property
1,849
Other revenues
1,000
3,447
1,482
Total revenue
$
485,133
$
678,597
$
619,352
Other sources - Transfer from
Liquor Fund
230,000
230,000
231,775
Total revenue and other
sources $
715,133
$
908,597
$
851,127
Expenditures
Administration
Personal services
$
102,765
$
115,546
$
99,460
Contractual services
2,450
3,467
3,995
Commodities
500
649
305
Central services
147,360
147,360
159,300
Training
500
1,296
1,283
Paid leave
35,100
36,165
36,120
Total administration
$
288,675
$
304,483
$
300,463
Recreation
Ice skating
$
22,540
$.
26,564
Baseball and softball
$
5,200
8,425
8,576
Skating and hockey
20,100
23,822
19,663
Tennis instruction
5,500
3,915
4,846
Playgrounds
10,800
10,702
10,102
Swimming instruction
23,700
20,210
22,604
Senior citizens
7,900
2,077
2,232
Miscellaneous and special
activities
14,100
19,126
16,177
Other
11,879
14,503
Total recreation
$
87,300
$.
122,696
$
125,267
Maintenance
Mowing
$
31,838
$
32,178
$
31,577
Special turf care
68,000
79,993
56,495
Plantings and trees
26,200
25,197
26,709
Litter removal
15,180
33,666
19,001
Parking areas
10,420
15,629
7,588
Buildings and equipment
84,780
105,379
88,490
Skating rinks
80,740
69,410
68,835
Total maintenance
$
317,158
$
361,452
$
298,695
37
CITY OF EDINA, MINNESOTA
PARK FUND
STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE (CONTINUED
YEARS ENDED DECEMBER 31, 1980 AND 1979
1980
1979
Budget
Actual
Actual
Expenditures (continued)
Capital outlay
Equipment
$
22,000
$ 22,573
$
17,266
Park construction
139,355
$
22,000
$ 161,928
$
17,266
Total expenditures
$
715,133
$ 950,559
$
741,691
Other uses
Transfer to Park Construction Fund.
274,300
Transfer to Art Center Fund
967
Total expenditures and
other uses
$
715,133
$1,224,859
$
742,658
Net increase (decrease) in fund balance
-0-
$( 316,262)
$
108,469
(Increase) decrease in deposits
( 11,019)
4,872
(Increase) decrease in reserve for
park acquisition and improvements
1662304
(
128,392)
Fund balance January 1
921
15,972
Fund balance (deficit) December 31
$(.160.056)
S 921
38
CITY OF EDINA, MINNESOTA
GENERAL DEBT SERVICE FUNDS
COMBINING BALANCE SHEET
DECEMBER 31, 1980
(With comparative totals for December 31, 1979)
ASSETS
Cash
investments
Taxes receivable
Unremitted
Delinquent
Deferred
Allowance for uncollectible taxes
Due from Edina Housing and
Redevelopment Authority
Total assets
LIABILITIES AND FUND EQUITY
Liability
Due to other funds
Fund equity
Reserve for park improvements
Fund balance
Appropriated
Total fund equity
Total liabilities and
fund equity
Redevelopment Park Totals
Sinking Sinking 1980 1979
$323,096 $ 323,096 $ 630,202
163,319 163,319
2,381 2,381 2,815
7,070
250,000
( 19,570)
$2,233,550 2,233,550 2,283,550
$2 ,233,550 488 796 $2,722,346 $3,154,067
$ 47,038
$2,233,550 $488,796. $2,772,346 $3,154,067
$163,663
$
163,663
$ 163,663
$2,233,550
325,133
2,.558,683
2,943,366
$2,233,550
$488,796
$2,722,346.
$31107,029
$2,233,550 $488,796. $2,772,346 $3,154,067
CITY OF EDINA, MINNESOTA
GENERAL DEBT SERVICE FUNDS
COMBINING STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE
. YEAR ENDED DECEMBER 31, 1980
(With comparative totals for .year.ended December 31, 1979)
Revenue
Interest
Advances from HRA
Other sources
Adjustment of allowance for
uncollectible taxes
Total revenue and
other sources
Expenditures
Bond principal
Interest and service charges
Other uses
Transfer to Park Construction
Fund
Write -off uncollectible taxes
Total expenditures and
other uses
Net (decrease) in fund balance
Decrease in reserve for
land acquisition
Fund balance January 1,
as restated (See Note 17)
.Fund balance December 31
Redevelopment Park
Sinking Sinking
Totals
1980 1979
$ 13,860 $ 13,860 $ 49,445
$ 128,391 128,391 128,250
14,122
$ 128,391 $ 13,860 $ 142,251 $ 191,817
$ 50,000 $ 300,000 $ 350,000 $ 350,000
128,391 16,870 145,261_ 160,341
$ 178,391 $ 316,870 $ 495,261 $ 510,341
47,038
31,673 31,673
$ 178,391 $ 348,543 $ 526,934 $ 557,379
$( 50,000) $(334,683) $( 384,683) $(.365,562)
47,038
2,283,550
659,816
2,943,366.
3,261,890
$2,233,550
S 325,,133
$2,558,683
52,943,366
39
40
CITY OF EDINA. MINNESOTA
CAPITAL PROJECTS FUND - PARK CONSTRUCTION
BALANCE SHEET
DECEMBER 31, 1980 AND 1979
1980 1979
ASSETS
Cash (deficit) $(509,061)
Accounts receivable 1,315
Due from other funds 364,141
Total assets JCjQ 605)
LIABILITIES AND FUND BALANCE
Liabilities
Accounts payable
$ 29,178
Contracts payable
37,500
Accrued payroll
30
Due to other funds
33,792
Total liabilities
$ 100,500
Fund balance (deficit)
Appropriated
$ 171,148
Unappropriated
(415,253)
Total fund balance
$(244,105)
Total liabilities and fund balance
$ -0- $(143,605)
CITY OF EDINA, MINNESOTA
CAPITAL PROJECTS FUNDS - PARK CONSTRUCTION
STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE
YEARS ENDED DECEMBER 31, 1980 AND 1979
Revenue
Rents
Grant
Other sources
Transfers from other funds
Liquor Fund
Park Sinking Fund
Park Fund
Total revenue and other sources
Expenditures
Construction costs
Interest on property purchase
Other
Total expenditures
Net increase (decrease) in fund balance
Decrease (increase) in contracts payable
Fund balance (deficit) January 1
Fund balance (deficit) December 31
1980 1979
$ 2,200 $ 2,900
54,594
$ 56,794 $. 2,900
80,000 80,000
47,038
274,300
$ 41.1,094 $ 129,938
$ 180,697 $ 244,480
11200 1,500
92 2,404
$ 181,989 248,384
$ 229,105 $(118,446)
15,000 15,000
(244,105)- (140,659)
S -0- $(244.105)
41
42
CITY OF EDINA, MINNESOTA
SPECIAL ASSESSMENT FUNDS
COMBINING BALANCE SHEET
DECEMBER 31, 1980
(With comparative totals for December 31, 1979)
Permanent
Improvement
Revolving
ASSETS
Cash (deficit)
$ 217,493
Investments
Accounts receivable
Due from other governmental units
Special assessments receivable
Unremitted.
1,077
Delinquent
Deferred
11,884
City's share
Allowance for uncollectible receivables
( 594)
Loans to other funds
200,000
Due from other funds
Unallocated construction costs
Construction in progress
Current
Deferred
Total assets
$ 429,860
LIABILITIES AND FUND. EQUITY
Liabilities
Due to other governmental units
Accrued interest on bonds
Contracts payable
Deposits payable
Loans from other funds
Due to other funds $ 6,943
Bonds payable
. Total liabilities $ 6,943
Fund equity
Reserve for assessment adjustments
Fund balance
Appropriated
Unappropriated $ 422,917
Total fund equity $ 422,917
Total liabilities and fund equity S 429,860
.Improvement Improvement
Bond Bond
Redemption I Redemption II
$ 1,595,381
481,575
27,289
5,257,619
211,754
( 262,881)
109,875
604,428
$ 8,025,040
$ 5,274
19,875
515,562
3.300,000
$ 3,840,711
$ 217,694
3,966,635
$ 4,184,329
$ 8,025.040
$ 191,800
8,573
2,999,516
( 149,976)
1,583,456
268,107
$ 4,901,476
$ 1,141
49,775
100,747
4.650.000
$ 4,801,663
$( 28,407)
128,220
$ 99,813
$ 4,901,476
Construction
$( 174,151)
256,900
1,047,877
57,728
1,462,336
302.598
$ 2,953,288
$ 149,004
302,598
523,405
1,783,456
154-208
$ 2,912,671
S Can -Al7
$ 2,953.288
Totals
1980
$ 1,830,523
481,575.,
256,900
36,939
8,269,019
211,754
( 413,451)
1,783,456
1,425,859
662,156
1,462,336
302.598
$16,309,664.
$ 155,419
69,650
302,598
523,405
1,783,456
777,460
7,950,000
$11,561,988
$ 189,287
40,617
4,517,772
$ 4,747,676
$16,309,664
1979
$ 684,085
500,000
4,350
40,974
452,885
5,993,851
211,754
( 762,440)
3,651,709
141,673
165,102
5,141,790
275,222
$16,500,955
$ 5,616
56,942
275,222
785,883
3,651,709
59,612
7,350,000
$12,184,984
$ 230,755
40,617
4,044,599
$ 4,315,971
$16,500,955
43
44
CITY OF EDINA, MINNESOTA
SPECIAL ASSESSMENT FUNDS
COMBINING STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE
YEAR ENDED DECEMBER 31, 1980
(With comparative totals for year ended December 31, 1979)
Permanent
Improvement
Revolving
Revenue
Interest
Investments $ 3,010
Special assessments 727
Bonds issued
State aid
Reimbursements from other funds
Total revenue $ 3,737
Other sources
Bond proceeds
Adjustment of provision for uncollectible receivables
Capitalized interest
Assessment adjustments $ 69698
Transfer from other funds
Adjustment of accrued interest on bonds
Total other sources $ 6,698
Total revenue and other sources $ 10,435
Expenditures
Interest
Paying agent service charges
Bond rating and investors services
Refund
Construction costs
Total expenditures
Other uses
Adjustment of provision for uncollectible receivables $ 816
Bonds issued
Total other uses $ 816
Total expenditures and other uses $ 816
Net increase (decrease) in fund balance $ 9,619
Increase (decrease) in construction in progress
Fund balance (deficit) January 1 413,298
Fund balance December 31 $ 422,917
45
Improvement
Improvement
Bond
Bond
Totals
Redemption I
Redemption II
Construction
1980
1979
$
49,822
$
7,226
$
60,058
$
84,210
264,476
254,260
519,463
333,950
8,381
$ 897,836
897,836
427,853
4,316,130
4,316,130
462,751
$
314,298
$
261,486
$ 5,213,966
$
5,793,487
$
1,317,145
$
1,400,000
$
1,400,000
$
1,500,000
$
38,172
38,172
67,141
90,786
307,407
398,193
21,930
6,698
424
4,442
4,442
7,627
$
133,400
$
_
1,707,407
$
1,847,505
$
1,597,122
$
447,698
$
1,968,893
$ 5,213,966
$
7,640,992
$
2,914,267
$
200,897
$
212,900
$
413,797
$
399,148
489
195
684
1,132
6,760
6,760
2,014
692
$ 1,813,830
1,813,830
2,862,052
$
201,386
$
219,855
$ 1,813,830
$
2,235,071
$
3,265,038
$
131,796
$
132,612
$
21,432
1,400,000
1,400,000
1,500,000
$
1,531,796
$
1,532,612
$
1,521,432
$
201,386
$
1,751,651
$ 1,813,830
$
3,767,683
$
4,786,470
$
246,312
$
217,242
$ 3,400,136
$
3,873,309
$(1,872,203)
(3,400,136)
(3,400,136)
1,971,448
3,720,323
( 89,022)
40,617
4,085,216
3,985,971
$ 3,966,635
$ 128,220
$ 40,617
$ 4,558,389
$ 4,085,216
46
CITY OF EDINA, MINNESOTA
ENTERPRISE FUNDS
COMBINING BALANCE SHEET
DECEMBER 31, 1980
(With comparative totals for December 31, 1979)
ASSETS
Current assets
Cash (deficit)
Restricted cash
Total cash
Petty cash and change funds.
Investments
Receivables
Accounts receivable
Customers
Assessments
Due from other funds
Due from other governmental units
Prepaid expenses
Inventories
Total current assets
Property and equipment, less
accumulated depreciation
Other assets
Receivable - Metropolitan Waste
Control Commission
Notes receivable - Less $4,973 current
portion included with accounts receivable
Loans to other funds
Total other assets
Sewer
Rental Liquor
$ 457,299 $( 528,037) $( 30,065)
$ 457,299 $( 528,03.7) $( 30,065)
3,500
163,319
1,000 9,151
214,753 274,407
1,220
241,253
18,747
4,413 115,352 7,512
9,534 859,105
$1,090,571 $( 117,311) $ 849,203
$7,094,028
$8,464,195
$
922,651
$ 560,083
$
54,707
$ 100,000
415,000
$- 100,000
$ 560,083
$
469,707
Total assets $8,284,599 ' $8,906,967 $2,241,561
47
Swimming Golf Recreation Gun Art Totals
Pool Course Center Range Center 1980 1979
.$(49,894) $( 143,991) $( 270;994) $(18,226) $(73,389) $( 657,297) $ 121,732
51,650
$(49,894) $( 143,991) $( 270,994) $(18,226) $(73,389) $( 657,297) $ 173,382
400 700 75 4,675 4,675
12,728 176,047 31,761
677 20,410 31,238 40,350
489,160 343,776
1,220 1,284
20,713 255 262,221 272,228
4,035 3,350 26,132 62,588
127,277 120.,175
1,297 206 250 4,770 875,162 625,104
$(49,894) $( 128,889) X224,930) 14,371) $(68,544) $ 1,335,835 $ 1,675,323
$328,869 .$1,357,306 $1,089,469 $ 64,839 $178,194 $19,499,551 $19,418,584
$ 560,083 $ 597,214
54,707 59,680
$ 300,000 815,000 815,000
$ 300,000 $ 1,429,790 1,471,894
$278,975 $1,228,417 $1,164,539 _ $ 50,468 $109,650 $22,265,176 $22,565,801
48
CITY OF EDINA, MINNESOTA
ENTERPRISE FUNDS
COMBINING BALANCE SHEET (CONTINUED)
DECEMBER 31, 1980
(With comparative totals for December 31, 1979)
LIABILITIES, RESERVE AND RETAINED EARNINGS
Current liabilities
Accounts payable
Accrued payroll
Due to other funds
Due to other governmental units
Bonds payable
Accrued interest
Total current liabilities
Other liabilities
Long -term liability - Bonds payable, less
current portion above
Deferred revenue
Deposits
Loan from other funds
Total other liabilities
Reserve for debt retirement
Retained earnings
Invested in property and equipment
Contributed
Unreserved
Total retained earnings
Total liabilities, reserve and
retained earnings
Sewer
Waterworks Rental
$ 12,752 $ 7,043
6,473 3,958
48,848 52,753
4,977
Liquor
$ 105,631
19,844
13,786
28,422
$ 73,050 $ 63,754 $ 167,683
$ 560,083
$ 560,083
$1,246,491 $ 115,788 $ 922,651
5,847,537 8,348,407
1,117,521 ( 181,065) 1.,151,227
$8,211,549 $8,283,130 $2,073,878
58,2844599 $8,906,967 $2,241,561
49
Swimming Golf Recreation Gun
.Pool Course Center Range
Art Totals
Center 1980 1979
$ 1,350 $ 6,662
$ 42,016 $
465 $ 319 $ 176,238
$ 177,350
3,622
6,943
327 718 41,885
32,560
18,512
2,866
136,765
427,782
33,399 .
560,083
40,000
105,000
145,000
195,000
933
933
4,701
1,350 $ 68,796
$ 157,758 $
792 $ 1,037 $ 534,220
$ 837,393
$278.975 $1,228,417 $1.164,539 $ 50,468 $109,650 $22,265,176 $22,565,801
$ 290,000
$ 295,000
$
585,000
$
730,000
560,083
597,214
2,534
2,534
900
545,000
470,000
1,015,000
1,01.5,000
$ 837,534
$ 765,000
$
2,162,617
$
2,343,114
$ 52,300
$
52,300
$
103,950
$328,341
$ 452,789
$ 203,817
$ 18,863
$150,987
$
3,439,727
$
3,351,326
528
29,517
15,652
45,976
27,207
14,314,824
14,127,258
(51,244)
( 160,219)
( 29,988)
15 163)
6( 9,581)
1,761,488
1,802,760
$277,625
$ 322,087
$ 189,481
49,676
$108,613
$19,516,039.
$19,281,344
$278.975 $1,228,417 $1.164,539 $ 50,468 $109,650 $22,265,176 $22,565,801
6141
CITY OF EDINA, MINNESOTA
ENTERPRISE FUNDS
COMBINING STATEMENT OF REVENUE EXPENSES AND RETAINED EARNINGS
YEAR ENDED DECEMBER 31, 1980
(With comparative totals for year ended December 31, 1979)
Sales and cost of sales
Sales
Cost of sales
Gross profit
Operating revenue
Charges for services
Total gross profit and
operating revenues
Operating expenses
Operating income (loss)
Other revenue
Interest
Discounts
Prior year's disposal charges
Current value credit - MWCC
Rental income
Deferred charges
Donations
Other '
Other expense
Interest and paying agent tees
Other
Net income (loss)
Transfers from (to) other funds
Property and equipment cont- ributed
by special assessments
Decrease in reserves
Retained earnings January 1
Retained earnings December 31
Waterworks
Sewer
Rental Liquor
$5,791,832
4,868,033
$ 923,799
$ 778,195 $1,388,669
$ 778,195 $1,388,669 $ 923,799
853,464 1,688,256 570,855
$( 75,269) $ ( 299,587) $ 352,944
$ 29,987
$ 18,747
61,020
4,776
6,659
$ 7,747
86,015
1.666
$ 29,987 $ 91,202 $ 95,428
$ 1,539
$ 253
$ 1,539 $ 253
$( 46,821) $( 208,385) $ 448,119
( 400,000)
71,051 337,008
51,650
8.,135,669 8,154,507 2,025,759
$8,211,549 $8,283,130 $2,073,878
51
Swimming
Golf
Recreation
Gun
Art
Totals
Pool
Course
Center
Range
Center
1980
1979
$ 5,791,832
$ 5,209,247
4,868,033
4,433,815
$ . 923,799
$ 775,432
$ 59,109
$
490,952
$
234,979
18,025
$ 50,677
3,020,606
2,470,831
$ 59,109
$
490,952
$
234,979
$ 18,025
$ 50,677
$ 3,944,405
$ 3,246,263
77,279
400,753
340,404
17,753
67,579
4,016,343
3,615,523
$(18,170)
$
90,199
$( 105,425)
$ 272
$(16,902)
$( 71,938)
$( 369,260)
$ 37,734
$ 53,874
86,015
74,735
18,747
59,588
61,020
61,020
4,776
4,776
6,659
6,441
$ 1,730
1,730
1,560
2,346
4,012
3,210
4,076
$ 220,693
$ 265,204
$
25,765
$
7,010
$ 34,314
$ 46,375
253
6,8.88
$
25,765
$
7,010
$ 34,567
$ 53,263
$(18,170)
$
64,434.
$(
112,435)
$ 272
$(12,826)
$ 114,188
$( 157,319)
7,978
29,517
17,152
976
5,175
( .339,202)
( 359,033)
408,059
213,061
51,650
1,650
287.817
228,136
284,764
48,428
116,264
19,281,344
19,582,985
$277,625 $ 322,087 $ 189,481 49,676 $108,613 $19,516,039 $19,281,344
52
CITY OF EDINA, MINNESOTA
ENTERPRISE FUNDS
COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION
YEAR ENDED DECEMBER.31, 1980
(With comparative totals for year ended December 31, 1979)
Funds provided
Operations
Net income (loss)
Item not requiring current outlay of funds
Depreciation
Contributions in aid to construction
Disposal of property and equipment
Transfers from other funds
Deposits
Decrease in notes receivable
Funds applied
Additions to property and equipment
Current installment on long -term debt
Transfers to other funds
Increase in reserves and deposits
Net increase (decrease) in working capital
Various elements of net change in
working capital
Cash
Investments
Receivables
Due from other funds
Due from other governmental units
Prepaid expenses
Inventories
Accounts payable
Accrued liabilities
Due to other funds
Due to other governmental units
Bonds payable
Net increase (decrease) in working capital
Sewer
Waterworks Rental L_ iquor
$( 46,821) $(208,385) $ 448,119
268,847 113,274 452962
$ 222,026 $( 95,111) $ 494,081
719051 337,008
4,973
$ 293,077 241,897 499:054
$ 81,954 $ 347,290 $ 12,715
400,000
81,954 $ 347,290 412,715
$ 211,123 $(105,393) $ 86,339
$ ( 42,739)
144,286
856
60,340
( 622)
955
3,349
( 1,128)
803
( 4,977)
50,000
211,123
$(112,077) $(160,665)
84,980
( 40,841)
19,854
( 3,721)
( 835)
( 52,753)
1,915
( 28,422)
( 12,130)
251,240
17,273
( 4,388)
21,516
$(105,393) $ 86,339
53
Swimming Golf Recreation Gun Art Totals
Pool Course Center Range Center 1980 1979
$(18,170) $ 64,434 $(112,435) $ 272 $(12,826) $ 114,188 $( 157,319)
742 19,777 2,812 156 1,290 452,860 426,835
$(17,428) $`, 84,211 $(109,623) $ 428 $(11,536) $ 567,048 $ 269,516
408,059 213,061
823 823 170
7,978 29,517 17,152 976 5,175 60,798 15,967
1,634 1,634
4,973 4,974
9,450) $ 116,185 $( 92,471) 1,404 $( 6,361) $1,043,335 $ 503,688
$ 478
$ 57,420
$ 26,785 $ 976
$ 7,032
$ 534,650
$ 728,819
40,000
105,000
145,000
195,000
400,000
375,000
1,121
4.78
$ 97,420
$ 131,785 $ 976
$ 7,032
$1,079,650
$1,299,940
9 928)
$ 18,765
224 256) $ 428
5(13,393)
$( 36,315)
$( 796,252)
$( 8,804) $(231,687) $(226,852) $( 4,774) $(43,081) $( 830,679) $( 522,494)
144,286
677 ( 11,704) 350 77,074 84,372
( 9,738) ( 85) ( 1,040) 49,477 ( 109,515)
4,035 ( 65,228)
7,102 10,818
( .1,253) ( 107) ( 777) 250,058 ( 58,129)
( 1,124) 1,787 ( 23,783) 861 6,470 1,112 35,154
( 586) 1,680 ( 32) ( 268) ( 5,557) ( 52,882)
249,827 42,213 4,108 25,303 291,017 ( 133,576)
(
4,977)
50,000 ( 50,000)
$( 9,928) $ 18,765 $(224,256) $ 428 $(13,393) $( 36,315) $( 796,252)
54
CITY OF EDINA, MINNESOTA
ENTERPRISE FUNDS
SCHEDULE OF PROPERTY AND EQUIPMENT
YEAR ENDED DECEMBER 31, 1980
Assets
Balance Balance
January 1 Additions Disposals December 31
Waterworks Fund
Land
$ 26,556
$ 180
$ 26,556
Land improvements
27,316
$ 776
28,092
Buildings and
10,019,428
337,008
10,356,436
equipment
2,574,955
10,127
2,585,082
Distribution system
8,634,814
71,051
8,705,865
Vehicles
$11,263,641
$ 81,954
$11,345,595
Sewer Rental Fund
Land improvements
$ 6,629
$ 180
$ 6,809
Sewer mains and
$
233,785
Land improvements
lift stations
10,019,428
337,008
10,356,436
Furniture and
21,364
Building
fixtures
2,454
2,454
Vehicles
19,394
6,063
25,457
Equipment and
machinery
92-1653
4,039
96,692
9,265
$10,140,558
$ 347,290
$10,487,848
Liquor Fund
Land
$
233,785
$
233,785
Land improvements
21,085
$.
279
21,364
Building
658,333
658,333
Furniture.and
fixtures
276,686
9,265
285,951
Construction in
progress
3,171
3,171
$1,189,889
$
12,715
$
1,202,604
Swimming Pool Fund
Land
$
10,000
$
10,000
Swimming pool and
bathhouse
288,048
288,048
Filter system
28,006
28,006
Furniture and
fixtures
6,001
6,001
Construction in
progress
1,000
$
478
1 -,478
$
333,055
$
478
$
333,533
55
Addumulated Depreciation
Net
Balance
Balance
Book
January 1
Additions Disposals
December 31
Value
$
26,556
$ 14,438
$
1,022
$
15,460
12,632
1,610,762
.94,406
1,705,168
879,914
2,357,520
173,419
2,530,939
6,174,926
$ 3,982,720
$
268,847
$ 4,251,567
$
7,094,028
$ 3,811
$
369
$
4,180
$
2,629
1,844,889
103,565
1,948,454
8,407,982
2.,235
29
2,264
190
12,959
2,330
15,289
10,168
46,485
6,981
53,466
43,226
$ 1,910,379
$
113,274
$
2,023,653
$
8,464,195 .
$
233,785
$ 3,865
$
832
$
4,697
16,667
123,711
22,479
146,190
512,143
106,415
22,651
129,066
156,885
3,171
$ 233,991
$
45,962
$
279,953
$
922,651
$
10,000
288,048
28,006
$ 3,922
$
742
$
4,664
1,337
1,478
$ 3,922
$
742
$
4,664
$
328,869
56
CITY OF EDINA, MINNESOTA
ENTERPRISE FUNDS
SCHEDULE OF PROPERTY AND EQUIPMENT (CONTINUED)
YEAR ENDED DECEMBER 31, 1980
Assets
Balance Balance
January 1 Additions Disposals December 31
Golf Course Fund
Golf course.. $ 726,414 $ 726,414
Buildings 204,781. 204,781
Well 15,018 15,018
Parking lot and
roadway 9,627 9,627
Equipment 195,523 $ 23,167 $ 3,151 215,539
Construction in
progress .298,065 34,253 332,318
$ 1,449,428 $ 57,420 $ 3,151 $ 1,503,697
Recreation Center Fund
.Land improvements $ 52,174 $ 52,174
Buildings 885,191 885,191
Furniture and
equipment 62,993 62,993
Construction in
progress 115,300 $ 26,785 142,085
$ 1,11.5,658 $ 26,785 $ 1,142,443
Gun Range Fund
Land improvements
$ 12,182
$ 4,108
$ 16,290
Building
47,532
47,532
Furniture and
equipment
863
976
1,839
Construction in
progress
4,108
$ 4,108
$ 64,685
$ 5;084
$. 4,108
$ 65,661
Art Center Fund
Land
$ 15,000
$ 15,000
Land improvements
1,788
$ 149
1,937
Building
110,758
110,758
Office furniture
and equipment
5,907
5,907
Machinery and
equipment
6,997
$ 125
6,872
Construction in
progress
34,868
6,883.
41,751
$ 175,318
$ 7,032
$ 125
$ 182,225
$25,732,232
$ 538,758
$ 7,384
$26,263,60.6
57
Accumulated Depreciation
Net
Balance
Balance
Book
January 1
Additions
Disposals
December 31
Value
$ 726,414
204,781
15,018
9,627
$ 128,942
$
19,777
$ 2,328
$ 146,391
69,148
332,318
$ 128,942
$
19,777
$ 2,328
$ 146,391
$ 1,357,306
$ 52,174
885,191
$ 50,162
$
2,812
$ 52,974
10,019
142,085
$ 50,162
$
2,812
$ 52,974
$ 1,089,469
$ 16,290
47,532
$ 666
$
156
$ 822
1,017
$ 666
$
156
$ 822
$ 64,839
$ 15,000
1,937
110,758
$ 1,288
$
591
$ 1,879
4,028
1,578
699
$ 125
2,152
4,720
41,751
$ 2,866
$ 1,290
$ 125
$ 4,031
$ 178,194
$ 6,313,648
$ 452,860
$ 2,453
$ 6.,764,055
$19,499,551
58
CITY OF EDINA, MINNESOTA
WATERWORKS FUND
BALANCE SHEET.
DECEMBER 31, 1980 AND 1979
ASSETS
Current assets
Cash
Restricted cash
Total cash
Investments
Customers accounts receivable
Due from other funds
Prepaid expenses
Inventories
Total current assets
Property and equipment, less accumulated depreciation
Other assets
Loan to other funds
Total assets
LIABILITIES, RESERVES AND RETAINED EARNINGS
Current liabilities
Accounts payable.
Due to other governmental units
Accrued payroll
Due to other funds
Bonds payable
.Accrued interest
Total current liabilities
Reserve for debt retirement
Retained earnings
Invested in property and equipment
Contributed
Unreserved
Total retained earnings
Total liabilities, reserves and
retained earnings
1980 1979
$ 457,299
$ 448,388
4,977
5.1,650
$ 457,299
$. 500,038
163,319
19,033
214,753
154,413
241,253
240,397
4,413
5,035
9,534
8,579
$1,090,571.
$ 927,495
$7,094,028 $7,280,921
$ 100,000 $ 100,000
$8,284,599 $8,308,416
$ 12,752
$ 16,101
4,977
6,473
5,207
48,848
49,651
50,000
Y -.1-
$ 51,650
$1,246,491 $1,291,711
5,847,537 5,939,210
1,117,521 904,748
$8,211,549 $8,135,669
$8,284„599 $8,308,416
59
CITY OF EDINA, MINNESOTA
WATERWORKS FUND
STATEMENT OF REVENUE, EXPENSES AND RETAINED EARNINGS
YEARS ENDED DECEMBER 31, 1980 AND 1979
1980
1979
Operating revenue
Water charges
$ 756,650
$
521,821
Sale of meters (less cost of meters sold)
3,857
3,768
Hydrant rental
162535
15,697
Permits
1,446
1,040
Other
( 293)
2,270
Total operating revenue
$ 778,195
$
544,596
Operating expenses
Source of supply
Personal services
$ 31,724
$
22,869.
Other services and charges
185,455
153,903
Supplies
18,975
16,923
Distribution
Personal services
69,786
772445
Other services and charges
57,084
82,789
Supplies
71,304
64,684
Purification
Personal services
5,569
4,659
Other services and charges
8,762
Supplies
1,537
18,715
General and administrative
Personal services
.58,027
61,186
Other services and charges
75,476
73,219
Supplies
918
411
Depreciation
268847
253,968
Total operating expenses
$ 853,464
$
830,771
Operating loss
$( 75,269)
$( 286,175)
Other revenue (expense)
Interest on investments
$ 29,987
$
35,068
Interest and paying agent fees
( 1,539)
( 3,190)
Total other revenue
$ 28,448
$
31,878
Net loss
$( 46,821)
$(
254,297)
Property and equipment contributed by
special assessments
71,051
121,885
Reduction in reserve for debt retirement
51,650
1,650
Retained earnings January 1
8,135,669
8,266,431
Retained earnings December 31
$8,211,549
$8,135,669
MR
CITY OF EDINA, MINNESOTA
WATERWORKS FUND
STATEMENT OF CHANGES IN FINANCIAL POSITION
YEARS ENDED DECEMBER 31, 1980 AND 1979
1980 1979
Funds provided
Operations
Net loss $( 46,821) $(254,297)
Item not requiring current outlay of funds
Depreciation 268,847 253,968
$ 222,026 $( 329)
Contributions in aid to construction 71,051 121,885
293,077 121,556
Funds applied
Additions to property and equipment $ 81,954 $ 127,290
Current installment of long -term debt 50,000
81,954 $ 177,290
Net increase (decrease) in working capital $ 211,123 LC-5 5 ,L3 4)
Various elements of net change in working capital
Cash
$
8,91.1
$(157,717)
Restricted cash
(
51,650)
( 1,650)
Investments
144,286
Receivables
856
11,341
Due from other funds
60,340
14,897
Prepaid expenses
(
622)
595
Inventories
955
( 906)
Accounts payable
3,349
2,294
Due to other governmental units
(
4,977)
Accrued payroll
(
1,266)
( 849)
Accrued interest payable
138
138
Due to other funds
803
76,123
Bonds payable
50,000
Net increase (decrease) in working capital
$ 211,123
$( 55,734)
CITY OF EDINA, MINNESOTA
SEWER RENTAL FUND
BALANCE. SHEET
DECEMBER 31, 1980 AND 1979
ASSETS
Current assets
Cash (deficit)
Receivables
Accounts receivable
Customers
Assessments
Due from other governmental units
Prepaid expenses
Total current assets
Property and equipment, less
accumulated depreciation
Other assets
Receivable - Metropolitan Waste Control Commission
Total assets
LIABILITIES AND RETAINED EARNINGS
Current liabilities
Accounts payable
Accrued payroll
Due to other funds
Total current liabilities
Other liabilities
Deferred revenue
Retained earnings
Invested in property and equipment
Contributed
Unreserved
Total retained earnings
Total liabilities and retained earnings
1,980 1979
$( 528,037) $( 415,960)
1,000
1,000
274,407
189,363
1,220
1,284
18,747
59,588
115,352
95,498
$( 117,311)
$( 69,2.27)
$8,464,195 $8,230,179
560,083 $ 597,214
$8,906,967 58.758.166
$ 7,043 $ 3,322
3,958 3,123
52,753
$ 63,754 $ 6,445
$ 560,083 $ 597,214
$ 115,788
8,348,407
( 181,065)
$8,283,130
$8,906,967
$ 115,214
8,114,965
( 75,672)
$8,154,507
$8,758,166
61
62
CITY OF EDINA, MINNESOTA
SEWER RENTAL FUND
STATEMENT OF REVENUE, EXPENSES AND RETAINED EARNINGS
YEARS ENDED DECEMBER 31, 1980 AND 1979
1980
Operating revenue - Sewer rentals $1,388,669
Operating expenses
Collection
Personal services
Other services and charges
Supplies
Disposal - Contractual services
Administrative and general
Personal services
Other services and charges
Supplies
Depreciation
Total operating expenses
Operating income (loss)
Other revenue (expense)
Deferred charges
Rental income
Prior year's disposal charges
Current value credit - MWCC
Total other revenue (expense)
Net loss
Property and equipment contributed by
special assessments
Retained. earnings January
Retained earnings December 31
$ 106,032
97,004
34,797
1,259,939
14,689
62,431
90
113,274
$1,688,256
$( 299,587)
$ 6,659
4,776
18,747
61.020
$ 91,202
$( 208,385)
337,008
8,154,507
$8,283,130
1979
$1,162,176
$ 98,445
47,767
17,224
1,200,169
15,654
42,168
48
109,003
$1,530,4.78
$( 368,302)
$ 6,441
4.,776
59,588
61.020
$ 131,825
$( 236,477)
91,176
8,299,808
58,154,507
CITY OF EDINA, MINNESOTA
SEWER RENTAL FUND
STATEMENT OF CHANGES IN FINANCIAL
POSITION
YEARS ENDED DECEMBER 31, 1980 AND 1979
1980
1979
Fund provided
Operations
Net loss
$(208,385)
$(236,477)
Item not requiring current outlay of funds
Depreciation
113,274
.109,003
$( 95,111)
$(127,474)
Contributions in aid to construction
337,008
91,176
Total
$ 241,897
$( 36,298)
Fund applied
Additions to property and equipment
$ 347,290
$ 115,908
Net increase (decrease) in working capital
$(105,393)
$(152,206)
Various elements of net change in working capital
Cash
$(112,077)
$(285,014)
Receivables
84,980
63,905
Due from other governmental units
( 40,841)
Prepaid expenses
.19,854
( 2,247)
Accounts payable
( 3,721)
40,731
Accrued salaries and wages
( 835)
( 265)
Due to other funds
( 52,753)
30,684.
Net increase (decrease). in working capital
$(105,393)
$(152,206)
63
64
CITY OF EDINA, MINNESOTA
LIQUOR.FUND
BALANCE SHEET -
DECEMBER 31, 1980 AND 1979
ASSETS
Current assets
Cash
Petty cash and change funds
Accounts receivable
Prepaid expenses
Inventories
Total current assets
Property and equipment, less
accumulated depreciation
Other assets
Notes receivable - Less $4,973 in 1980 and
1979 current portion included with
accounts receivable
Loan to other funds
Total other assets
Total assets
LIABILITIES AND RETAINED EARNINGS
Current liabilities
Accounts payable
Accured payroll
Due to other funds
Due to other governmental units
Total current liabilities
Retained earnings
Invested in property and equipment
Unreserved
Total retained earnings
Total liabilities and retained earnings
1980 1979
$( 30,065) $ 130,600
3,500 3,500
9,151 7,236
7,512 19,642
859,105 607,865
$ 849,203 $ 768,843
$ 922,651 $ 955,.898
$ 54,707 $ 59,680
415,000 415,000
$ 469,707 $ 474,680
$2,241,561 $2,199,421
$ 105,631 $ 122,904
19,844 15,456
13,786 35,302
28,422
$ 167,683 $ 173,.662
$ 922,651 $ 955,898
1,151,227 1,069,861
$2,073,878 $2,025,759
$2,241,561 52,.199,421
Sales
CITY OF EDINA, MINNESOTA
LIQUOR FUND
STATEMENT OF REVENUE, EXPENSES AND RETAINED EARNINGS
YEARS ENDED DECEMBER 31, 1980 AND 1979
Cost of sales
Gross profit
Operating expenses
Selling
Occupancy
Administrative
Total operating
expenses
50th Street Yorkdale
$1,200,309 $2,510,132
1,000,487 2,092,917
$ 199,822 $ 417,215
$ 79,341
38,905
35,678
$ 153,924
Operating income $ 45,898
Other-income (expense)
Interest $ 7,747
Discounts 19,905
Cash over (short) ( 36)
Other 1,061
Total other revenue $ 28,677
Net income $_7!1.575
Transfers to other
funds
General Fund
Park Fund
Park Construction
Fund
Retained earnings
January 1
Retained earnings
December 31
41*1i;
Grandview Totals
$2,081,391 $5,791,832
1,774,629 . 4,868,033
$ 306,762 $ 923,799
$ 136,452
$ 110,099
$ 325,892
48,324
37,251
124,480
43,350
41,455
120,483
$ 228,126
$ 188,805
$ 570,855
$ 189,089
$ 117,957
$ 352,944
$ 35,450 $ 30,660
( 276) 59
314 291
35,488 $ 31,010
224,577 $ 148,967
1979
Totals
$5,209,247
4,433,815
$ 775,432
$ 252,548
118,303
123,527
$ 494,378
$ 281,054
$ 7,747 $ 5,744.
86,015 74,735
( 253) ( 71)
1,666 1,577
$ 95,175 $ 81,985
$ 448,119 $ 363,039
$ 90,000 $ 63,225.
230,000 231;775'
80,000 80,000
$ 400,000 $ 375,000
$2,025,759 $2,037,720
$2,073,878 $2,025,759
65
CITY OF EDINA, MINNESOTA
LIQUOR FUND
STATEMENT OF CHANGES IN FINANCIAL POSITION
YEARS ENDED DECEMBER 31, 1980 AND 1979
1980 1979
Funds provided
$ 86,339
$( 13.172)
Various elements of net change in working capital
Operations
Cash
$(160,665)
$ 100,239
Net income
$
448,119
$
363,039
Item not requiring current outlay of funds
Prepaid expenses
( 12,130)
5,681
Inventories
Depreciation
( 53,070)
45,962
17,273
43,182
Accrued payroll
$
494,081
$
406,221
Decrease in notes receivable
Due to other governmental units
4,973
4,974
Total
$
499,054
$
411,195
Funds applied
Transfer to other funds $ 400,000 $ 375,000
Additions to property and equipment 12,715 49,367
$ 412,715 $ 424,367
Net increase (decrease) in working capital
$ 86,339
$( 13.172)
Various elements of net change in working capital
Cash
$(160,665)
$ 100,239
Receivables
1,915
2,263
Due from other funds
(128,064)
Prepaid expenses
( 12,130)
5,681
Inventories
251,240
( 53,070)
Accounts payable
17,273
5,627
Accrued payroll
( 4,388)
( 3,021)
Due to other funds
21,516
57,173
Due to other governmental units
( 28,422)
Net increase (decrease) in working capital
$ 86 339
$( 13.172)
CITY OF EDINA, MINNESOTA
LIQUOR FUND
SCHEDULE OF OPERATING EXPENSES
YEARS ENDED DECEMBER 31, 1980 AND 1979
Selling
Salaries and wages
Supplies
Licenses and dues
Service contract
Direct promotion
Other
Occupancy
Salaries and wages
Telephone
Supplies
Light and power
Maintenance, heating
and cooling
Heat
Laundry and rug
service
Burglar alarm
Insurance
Share of maintenance
Repair and maintenance
Depreciation
Rubbish hauling
Janitorial service
Water and sewer service
Miscellaneous
Administrative
Salaries and wages
Supplies
Professional service
Allocated expenses
Retirement, insurance,
office supplies, etc.
Mileage
Miscellaneous
Total operating
expenses
$ 70,588
5,205
234
1,263
1,907
144
$ 79,341
Yorkdale Grandview
$126,024
7,510
64
1,263
1,554
37
$136,452
$102,050
5,177
54
1,263
1,518
37
$110,099
Totals
.1980 1979
$298,662
17,892
352
3,789
4,979
218
$325,892
67
$236,224
13,692
177
341
1,708
406
$252,548
$ 1,799
$
632
$
1,589
$ 4,020
$ 510
628
655
335
1,618
1,425
1,909
679
1,264
3,852
1,297
6,218
8,993
3,623
18,834
15,278
856
1,005
106
1,967
3,002
870
999
1,453
3,322
4,291
308
818
559
1,685
1,270
405
434
434
1,273
1,440
5,832
11,636
9,743
27,211
33,853
345
750
1,095
1,212
2,533
3,000
1,922
7,455
6,696
15,606
16,255
14,101
45,962
43,182
1,317
1,885
1,885
5,087
3,254
73
116
29
218
647
186
447
188
821
946
20
20
20
60
$ 38,905
$
48,324
$
37,251
$124,480
$118,303
$ 14,017
$
15,300
$
16,180
$ 45,497
$ 58,752
894
2,470
648
4,012
2,574
1,440
1,372
1,422
4,234
3,720
18,600
22,620
22,260
63,480
54,660
450
450
450
1,350
873
277
1,138
495
1,910
2,948
35,678
$
43,350
$
41,455
$120,483
$123,527
1151J24
1228,126
$188,805
5570.855
$494,378
68
CITY OF EDINA, MINNESOTA
SWIMMING POOL FUND
BALANCE SHEET
DECEMBER 31, 1980 AND 1979
ASSETS
Current asset
Cash (deficit)
Property and equipment, less
accumulated depreciation
Total assets
LIABILITY AND RETAINED EARNINGS
Current liability
Accounts payable
Retained earnings
Invested in property and equipment
Contributed
Unreserved
Total retained earnings
Total liability and retained earnings
1980 1979
49,89 41,090)
$ 328,869
5 278.975
329,133
$ 288.0.43
$ 1,350 226
$ 328,341
528
( 51,2.44)
$ 277,625
$ 278,975
$ 329,083
50
( 41,316)
$ 287,817
$ 288,043
CITY OF EDINA, MINNESOTA
SWIMMING POOL FUND
STATEMENT OF REVENUE, EXPENSES AND RETAINED EARNINGS
YEARS ENDED DECEMBER 31, 1980 AND 1979 .
Operating revenue
Season tickets
General admissions
Rentals and instruction programs
Concessions (less cost of goods sold)
Other
Total operating revenue
Operating expenses
Salaries and wages
Supplies
Utilities
Insurance
Repair and maintenance
Professional service
Printing and office expense
Central services
Concessions - Operating
Contractual services
Depreciation
Other
Total operating expenses
Net loss
Transfer from General Fund
Transfer from Park Fund
Retained earnings January 1
Retained earnings December 31
1980
1979
$ 32,469
$ 30,166
11,932
9,295
5,000
5,000
7,979
63475
1,729
1,072
$ 59,109
$ 52,008
$ 37,687
$ 32,577
9,277
4,979
11,853
12,923
716
843
3,230
549
100
100
2,498
1,462
4,380
3,600
5,583
4,045
760
309
742
627
453
411
$ 77,279
$ 62,425
$( 18,170) $( 10,417)
7,500 7,500
478
287,817 290,734
S 277,625 28 81
69
70
CITY OF EDINA, MINNESOTA
SWIMMING POOL FUND
STATEMENT OF CHANGES IN FINANCIAL POSITION
YEARS ENDED DECEMBER 31, 1980 AND 1979
1980 1979
Funds provided
Operations
Net loss $(18,170) $(10,417)
Item not requiring current outlay of funds
Depreciation. 742 627
$(17,428) $( 9,790)
Transfer from General Fund 7,500 7,500
Transfer from Park Fund 478
9,450) $,( 2,290)
Funds applied
Additions to property and equipment $ 478 $ 2,383
Net decrease in working capital 9 928) IL-L,6
-L3
Various elements of net change in working capital
Cash $( 8,804) $ 1,936
Due from other funds ( 7,500)
Accounts payable 1,124) 891
Net decrease in working capital 9P928) S( 4,673)
CITY OF EDINA, MINNESOTA
GOLF COURSE FUND
BALANCE SHEET
DECEMBER 31, 1980 AND 1979
ASSETS
Current assets
Cash (deficit)
Petty cash and change funds
Investments
Accounts receivable
Inventories
Total current assets
Property and equipment, less
accumulated depreciation
Total assets
LIABILITIES AND RETAINED EARNINGS
Current liabilities
Accounts payable
Accrued payroll
Due to other funds
Bonds payable
Total current liabilities
Other liabilities
Long -term liability - Bonds payable,
.less current portion above
Deposits
Loan from other funds
Total other liabilities
Retained earnings
Invested in property and equipment
Contributed
Unreserved
Total retained earnings
Total liabilities and retained earnings
1980 1979
$( 143,991) $ 87,696
400 400
12,728 12,728
677
1,297 2,550
$( 128,889) $ 103,374
$1,357,306 $1,320,486
$1,228,417 $1,423,860
$ 6,662 $ 8,44.9
3,622 3,036
18,512 268,339
40,000 40,000
$ 68,796 $ 319,824
$ 290,000 . $ 330,000
2,534 900
545,000 545,000
$ 837,534 $ 875,900
$ 452,789 $ 405,486
29,517
( 160,219) ( 177,350)
$ 322,087 $ 228,136
$1,228,417 $.1,423,860
71
72
CITY OF EDINA, MINNESOTA
GOLF COURSE FUND
STATEMENT OF REVENUE, EXPENSES AND RETAINED EARNINGS
YEARS ENDED DECEMBER 31, 1980 AND 1979
1980 1979
Operating revenue
Green fees $ 300,910 $ 242,863
Rental fees 55,750 47,855
Membership fees 30,972 27,022
Concessions (less cost of goods sold) 41,709 33,478
Range 58,031 46,695
Lessons 3,556 5,234
Other 24 77
Total operating revenue $ 490,952 $ 403,224
Operating expenses
Administration $ 98,118 $ 81,554
Building - Club house and pro shop 44,780 26,590
Maintenance of course and grounds 179,202 168,278
Range and grill 58,876 51,015
Depreciation 19,777 14,983
Total operating expenses 400,753 342,420
Operating income $ 90,199 $ 60,804
Other revenue (expense)
Interest on investments $ 10,462
Interest and paying agent fees $( 25,765) ( 32,300)
Total other revenue (expense) $( 25,765) 21,838)
Net income $ 64,434 $ 38,966
Transfer to Recreation Center Fund (300,000)
Transfer from Park Fund 29,517
Retained earnings January 1 228,136 489,170
Retained earnings December 31 $ 322,087 $ 228.136
CITY OF EDINA, MINNESOTA
GOLF COURSE FUND
STATEMENT OF CHANGES IN FINANCIAL POSITION
. YEARS ENDED DECEMBER 31, 1980 AND 1979
Funds provided
Operations
Net income
Item not requiring current outlay of funds
Depreciation
Deposits
Disposals of property and equipment - Net
Transfer from Park Fund
Funds applied
Additions to property and equipment
Current installment of long -term debt
Deposits
Net increase (decrease) in working capital
Various elements of net change in .working capital
Cash
Accounts receivable
Inventory
Accounts payable
Accrued payroll
Due to other funds
Net increase (decrease) in working capital
1980 1979
$ .64,434 $ 38,966
19,777 14,983
$ 84,211 $ 53,949
1,634
823
29,517
$ 116,185 $ 53,949
$ 57,420 $ 309,889
40,000 40,000
1,121
$ 97,420 $ 351,010
1--18,Z65 L297,061)
$(231,687) $( 23,019)
677
( 1,253)
1,948
1,78.7
( 6,581)
( 586)
( 1,264)
249,827
(268,145)
1_18 j 65 5297,061)
73
74
CITY.OF EDINA, MINNESOTA
GOLF COURSE FUND
SCHEDULE OF OPERATING EXPENSES
YEARS ENDED DECEMBER 31, 1980 AND 1979
1980 1979
Administration
Personal services $ 53,759 $ 43,707
Contractual services 40,821 33,981
Commodities and supplies 2,752 2,364
Other charges 786 1,502
Total administration expense 98,118 $ 81,554
Building - Club house and pro shop
Personal services $ 14,667 $ $,230
Utilities 16,776 7,019
Fuel 2,124 1,788
Supplies 7,906 5,942
Repairs - Building 3,635 1,981
.Contractual services 2,756 3,719
Less amount charged to grill ( 6,218) ( 3,250)
Other 3,134 1,161
Total building - Club house and pro shop $ 44,780 26,590
Maintenance of course and grounds
Personal services $ 92,790 $ 90,377
Contractual services. 10,887 11,389
Commodities and supplies 46,125 41,897
Fixed charges 29,400 24,600
Other 15
Total maintenance $ 179,202 $ 168,278.
Range and grill
Personal services $ 48,348 $ 43,582
Contractual services 6,431 3,353
Commodities and supplies 4,.097 _ 4,080
Total range and grill $_ 58,876 $ 51,015
Depreciation 19,777 $ 14,983
Total operating expenses 400 53 S 342,420
75
Current assets
Cash (deficit)
Petty cash and change
Accounts receivable
Due from other governs
Due from other funds
Inventories
Total current
CITY OF EDINA, MINNESOTA
RECREATION CENTER FUND
BALANCE SHEET
DECEMBER 31, 1980 AND 1979
1980
ASSETS
$(.270i994)
funds 700
20,410
nental units 4,035
20,713
206
assets $( 224,930)
Property and equipment, less
accumulated depreciation $1,089,469
Other assets
Loan to other funds $ 300,000
Total assets $1,164,539
LIABILITIES. RESERVES AND RETAINED EARNINGS
Current liabilities
Accounts payable $ 42,016
Accrued payroll 6,943
Due to other funds 2,866
Bonds payable 105,000
Accrued interest 933
Total current liabilities $ 157,758
1979
$( 44,142)
700
32,114
30,451
313
$ 19,436
$1,065,496
$ 300,000
$1,384,932
$ 18,233
4,993
45,079
105,000
4.563
$ 177,868
Other liabilities
Long -term liability - Bonds payable,
less current portion above $ 295,000 $ 400,000
Loan from other funds 470,000 470,000
Total-other liabilities $ 765,000 $ 870,000
Reserve for debt retirement $ 52,300 $ 52,300
Retained earnings
Invested in property and equipment $ 203,817 $ 84,496
Contributed 15,652 6,000
Unreserved ( 29,988) 194,268
Total retained earnings $ 189,481 $ 284,764
Total liablities, reserves
and retained earnings $1,164,539 $1,384,932
76
CITY OF EDINA, MINNESOTA
RECREATION CENTER FUND
STATEMENT OF REVENUE, EXPENSES AND RETAINED EARNINGS
YEARS ENDED DECEMBER 31, 1980 AND 1979
1980 1979
Operating revenue
Rental fees $ 154,253 $ 164,500
Season ticket sales 23,413 24,618
Daily skating fees 6,876 4,569
Admissions 25,643 30,246
Concessions (less cost of goods sold) 9,893 8,994
Vending machine commissions 7,607 .5,782
Services - Skate sharpening 3,798 3,008
Other 3,496 .91
Total operating revenue $ 234,979 241,808
Operating expenses
Personal services.
$ 122,512
$ 95,549
Contractual services
89,943
89,343
Commodities, supplies and repairs
95,437
51,840
Depreciation
2,812
3,765
Other charges
29,700
27,300
Total operating expenses
340,404
_267,797
Operating.loss
$(105,425)
$( 25,989)
Other revenue (expense)
Interest on investments
$ 2,600
Interest and paying agent- fees
$( 7,010)
( 10,885)
Total other revenue (expense)
$( 7,010)
8,285)
Net loss
$(112,435)
$( 34,274)
Transfer from Golf Course Fund
300,000
Transfer. from Park Fund
9,652
Transfer from General Fund
7,500
7,500
Retained earnings January 1
284,764
11,538
Retained earnings December 31
$ 189,481
$ 284,764
F&A
CITY OF EDINA, MINNESOTA
RECREATION CENTER FUND
STATEMENT OF CHANGES IN FINANCIAL POSITION
YEARS ENDED DECEMBER 31, 1980 AND 1979
Funds provided
Operations
Net loss
Item not requiring current outlay of funds
Depreciation
Transfer from Park Fund
Transfer from General Fund
Funds applied
Additions to property and equipment
Current installment of long -term debt
Net increase (decrease) in working capital
Various elements of net change in working capital
Cash
Receivables
Due from other funds
Inventory
Accounts payable
Due from other governmental units
Accrued payroll
Accrued interest
Due to other funds
Bonds payable
1980 1979
$(112,435) $( 34,274)
2,.812 3,765
$(109,623) $( 30,509)
9,652
7,500
$( 92,471)
$ 26,785
1_ 05
131,785
$(224,256)
$(226,852)
( 11,704)
( 9,738)
( 107)
( 23,783)
4,035
(
1,950)
3,630
42,213
7,500
$( 23,009)
$ 93,721
105,000
$ 198,721
$(221,730)
$(146,730)
8,589
10,151
( 319)
4,841
( 922)
( 2,358)
( 44,982)
( 50,000)
Net increase (decrease) in working capital $(224,256) $(221,730)
78
CITY OF EDINA, MINNESOTA
GUN RANGE FUND
BALANCE SHEET
DECEMBER 31, 1980 AND 1979
ASSETS
Current assets
Cash (deficit)
Due from other governmental units
Due from other funds
Inventories
Total current assets
Property and equipment, less accumulated depreciation
Total assets
LIABILITIES AND RETAINED EARNINGS
Current liabilities
Accounts payable
Accrued payroll
Due to other funds
Total current liabilities
Retained earnings
Invested in property and equipment
Contributed
Unreserved
Total retained earnings
Total liabilities and retained earnings
1980
$ ( 18,226)
3,350
255
250
$( 14,371)
$. 64,839
1-50.468
$ 465
327
792,
$ 18,863
45,976
( 15,163)
$ 49,676
$ 50,468
1979
$( 13,452)
3,000
340
250
$(
9,862
$ 64,019
$ 54,157
$ 1,326
295
4,108
$ 5,729
$ 19,019
45,000
( 15,591)
$ 48,428
$ - 54,157.
79
CITY OF EDINA, MINNESOTA
GUN RANGE FUND
STATEMENT OF REVENUE, EXPENSES AND.RETAINED EARNINGS
YEARS ENDED DECEMBER 31, 1980 AND
1979
1980
1979
Operating revenue
Range fees
$ 14,402
$ 14,823
Sale of ammunition
2,854
3,042
Concessions (less cost of goods sold)
271
95
Other
498
219
Total operating revenue
18,025
18,179
Operating expenses
Personal service
$ 9,475
$ 8,957
Contractual services
2,678
2,778
Commodities and supplies
5,319
6,178
Depreciation
156
59
Other
125
114
Total operating expenses
17,753
$ 18,086
Net income
$ 272
$ 93
Transferred from Park Fund
976
Retained earnings January 1
48,428
48,335
Retained earnings December 31
$ 49,676
$ 48,428
�.1i7
CITY OF EDINA, MINNESOTA
GUN RANGE FUND
STATEMENT OF CHANGES IN FINANCIAL POSITION
YEARS ENDED DECEMBER 31, 1980 AND 1979
1980 1979
Funds provided
Operations
Net income $ 272 $ 93
Item not requiring current outlay of funds
Depreciation 156 59
Transfers from other funds 976
$ 1,404 152
Funds applied
Additions to property and equipment $ 976 $ 4,108
Net increase (decrease) in working capital $ 428 $( 3.956)
Various elements of net change in working capital
Cash $( 4,774) $ 1,607
Receivables 350 ( 26)
Due from other funds ( 85)_ ( 39)
Accounts payable 861 ( 1,239)
Accrued payroll ( 32)' ( 151)
Due to other funds 4,108 4,108)
Net increase (decrease) in working capital S 428 $( 3,956)
Current assets
Cash (deficit)
Petty cash and change
Due from other funds
Inventories
Total current
Property and equipment,
Total assets
CITY OF EDINA, MINNESOTA
ART CENTER FUND
BALANCE SHEET
DECEMBER 31, 1980 AND 1979
1980
ASSETS
$( 73,389)
funds 75
4,770
assets $( 68,544)
less accumulated depreciation $ 178,194
$ 109,650
LIABILITIES AND RETAINED EARNINGS
Current liabilities
Accounts payable
Accrued payroll
Due to other funds
Total current liabilities
Retained earnings
Invested in property and equipment
Contributed
Unreserved
Total retained earnings
Total liabilities and retained earnings
$ 319
718
$ 1,037
$ 150,987
27,207
(
69,581)
$ 108,613
$ 109,650
1979
$( 30,308)
75
1,040
5,547
$( 23,646)
$ 172,452
$ 148,806,
$ 6,789
450
25.303
$ 32,542
$ 150,419
22,033
(
56,188
$ 116,264
$ 148,806
81'
82
CITY OF EDINA, MINNESOTA
ART CENTER FUND
STATEMENT OF REVENUE, EXPENSES AND RETAINED E
YEARS ENDED DECEMBER 31, 1980 AND 1979
Operating revenue
Memberships
Registration fees
Retail sales less cost of goods sold
Total operating revenue
Operating expenses
Administration
Personal services
Contractual services
Commodities
Other charges
Occupancy
Personal services
Contractual services
Commodities
Instructors - Personal services
Depreciation
Total operating expenses
Operating loss
Other revenue (expense)
Donations
Inventory adjustment - Prior year
Account receivable adjustment - Prior year
Other
Total other revenue
Net loss
Transfer from Park Fund
Retained earnings January 1
Retained earnings December 31
1980 1979
$ 5,769 $ 4,737
41,715 40,759
3,193 3,344
50,677 $ 48,840
$ 16,836 $ 15,723
1,555 1,163
5,681 6,247
2,947 3,420
7,019 $ 26,553
$ 2,416
7,424
1,092
0,932
28,338
1,290
$ 67,579
$ 2,985
6,827
1,282
11,094
30,273
1,248
69,168
$( 16,902) $( 20,328)
$ 1,730 $ 1,560
( 5,117)
( 1,700)
2,346 1,633
4,076 $( 3,624)
$( 12,826) $( 23,952)
5,175 967
116,264 139,249
$ 108,613 $ 116,264
83
CITY OF EDINA, MINNESOTA
ART CENTER FUND
STATEMENT OF CHANGES IN FINANCIAL POSITION
YEARS ENDED DECEMBER 31. 1980 AND 1979
1980
1979
Funds provided
Operations
Net loss
$( 122826)
$( 23,952)
Item not requiring current outlay of funds
Depreciation
1,290
1,248
$( 11,536)
$( 22,704)
Transfers from other funds
5,175
967
Disposals of property
and equipment (net)
170
$( 6,361)
$( 21,567)
Funds applied
Additions to property
and equipment
7,032
$ 26,153
Net decrease in working
capital
S( 13,393)
$( 47,720)
Various elements of net
change in working capital
Cash
$( 43,081)
$( 12,146)
Receivables
( 1,700)
Due from other funds
( 1,040)
1,040
Inventories
( 777)
( 3,834)
Accounts payable
6,470
( 5,647)
Accrued payroll
( 268)
( 130)
Due to other funds
25,303
( 25,303)
Net decrease in working
capital
$( 13,393)
S( 47.720)
84
CITY OF EDINA, MINNESOTA
STATEMENT OF GENERAL FIXED ASSETS
YEAR ENDED DECEMBER 31, 1980
(with comparative totals for December 31, 1979)
$10,025,,.097 $ 9,430,205
Investment in General Fixed Assets
General Fund $ 4,381,537 $ 4,124,040
Park Fund 5,643,560 2,294,137
Park Construction Fund 3,012,028
$10,025.0.97 $ 9,430,205
1980
1979
General Fixed Assets
Land
$ 2,280,117
$ 707,117
Land improvements
1,321,402
13-252,481
Buildings
1,493,080
1,493,080
Furniture and fixtures
161,050
154,267
Vehicles
139,048
107,591
Tools
5,812
5,812
Election equipment
131,320
131,320
Engineering equipment
49,055
50,347
Fire equipment
422,699
389,081
Highway equipment
13039,550
903,564
Park equipment
197,914
188,550
Police equipment
302,524
271,624
Miscellaneous equipment
88,196
80,117
Traffic signals equipment
91,706
91,706
Parks
2,281,101
Construction in progress
20,523
3,603,548
$10,025,,.097 $ 9,430,205
Investment in General Fixed Assets
General Fund $ 4,381,537 $ 4,124,040
Park Fund 5,643,560 2,294,137
Park Construction Fund 3,012,028
$10,025.0.97 $ 9,430,205
85
CITY OF EDINA, MINNESOTA
STATEMENT OF GENERAL LONG -TERM DEBT
DECEMBER 31, 1980
(With comparative totals for December 31, 1979)
Redevelopment Park
Sinking Sinking Totals
Fund Fund 1980 1979
AMOUNT AVAILABLE FOR PAYMENT
OF GENERAL LONG -TERM DEBT
Amount available in general
debt service funds $2,233,550 $325,133 $2,558,683 $2,943,366
GENERAL LONG -TERM DEBT PAYABLE
AND FUND BALANCE
General long -term debt payable $2,050,000 $ 50,000 $2,100,000 $2,450,000
Fund balance 183,550 275,133 458,683 493,366
Total general long -term
debt payable and
fund balance $2,233,550 $325,133 $2,558,683 $2,943,366
SECTION III
STATISTICAL SECTION
87
CITY OF EDINA, MINNESOTA
SCHEDULE OF CASH, INVESTMENTS AND SECURITY FOR DEPOSITS
DECEMBER 31, 1980
Cash
and
investments
First Edina National Bank, Edina, Minnesota
Checking accounts
$ 219,753
Savings account
326,219
Certificates of deposit
600,000,
$1,145,972
First Southdale National Bank,
Edina, Minnesota
Deposit account
$ 169,384
Payroll account
25,275
$ 194,659
Southwest Fidelity State Bank,
Edina, Minnesota
Certificates of deposit
$ 500,000
Americana State Bank, Edina, Minnesota
Certificates of deposit
$ 1002000
First National Bank of Minneapolis
Minneapolis, Minnesota
Certificates of deposit
$ . 400,000,
U.S. Government.Securities
$1,434,850
City of Edina Bonds
$ 12.,729
Land
$ 24,500
Donated securities
$ 995
Petty cash and change funds
$ 5,225
Total cash and investments . $3,818,930
Face amount of
securities pledged
by depository
as collateral
$1,285,000
$ 410.000
. $ 415,000
Additional coverage of $100,000 for demand.and time deposits is provided at each
depository by the Federal Deposit Insurance Corporation.
Minnesota law stipulates that the amount of deposits cannot exceed the F.D.I.C.
insurance plus ninety percent of the market value of securities pledged as collateral
by the bank. On December 31, 1980, the bank deposits at First National Bank.of
Minneapolis and Southwest Fidelity State Bank were in excess of,this requirement..
M
CITY OF EDINA, MINNESOTA
COMBINED SCHEDULE OF INDEBTEDNESS
DECEMBER 31, 1980
Interest
rate
Bonded Indebtedness
None
Special Assessment Debt
Service
Fund
Improvement Bonds of
1975
5.30 -5.50
Improvement Bonds of
1977
4.25 -4.40
Temporary Improvement
Bonds
11/1/85
of 1978
5.4
Temporary Improvement
Bonds
3/1/81
of 1979
12/1/75
6.75
Temporary Improvement
Bonds
100%
of 1980
1977 -1978
7.35
Revenue Bonds
Golf Course Bonds
Recreation Center Series A
Recreation Center Series B
Recreation Center Series D
General Long -term Debt
Park Construction Bonds
General Obligation
Redevelopment Bonds
Total bonded indebtedne=ss
Other indebtedness
,Installment purchases
Total indebtedness
Issue
date
12/1/75
11/1/77
11/1/78
11/1/79
11/1/80
Final
maturity
date
12/1/83
11/1/86
11 /1 /81
11/1/81
4/1/81
1980 Percent
paid by tax
levies
None
3.20 -3.50
12/1/63
12/1/87
3.20 -3.30
9/1/65
9/1/82
3.00 ,
9/1/65
9/1/82
5.20 -5.25
11/1/78
11/1/85
None
3.9
3/1/57
3/1/81
5.30 -6.50
12/1/75
12/1/93
100%
5.50 -6.50
1977 -1978
1981 -82
89
Indebtedness
Authorized Due in 1981
and issued Redeemed Outstanding Principal Interest.
$ 3,500,000
$ 2,000,000
$ 1,500,000
$
500,000
$ 82,500
2,700,000
900,000
1,800,000
300,000
78,000
1,750,000
1,750,000
1,750,000
94,500
1,500,000
1,500,000
1,500,000
101,250
1,400,000
1,400,000
1,400,000
105,000
$10,850,000
$ 2,900,000
$ 7,950,000
$
5,450,000
$ 461,250
$ 825,000
$ 495,000
$ 330,000
$
40,000
$ 11,370
300,000
240,000
60,000
30,000
1,980
150,000
120,000
30,000
15,000
900
370,000
60,000
310,000
60,000
16,155
$ 1,645,000
$ 915,000
$ 730,000
$
145,000
$ 30,405
$ 700,000
$ 650,000
$ 50,000
$.
50,000
2,200,000
150,000
2,050,000
50,000
$ 125,500
$ 2,900,000
$ 800,000
$ 2,100,000
$
100,000
$ 125,500
$15,395,000
$ 4,615,000
$10,780,000
$
5,695,000
$ 617,155
28,155
18,987
9,168
4,954
367
$15,423,155
$ 4,633,987
$10,789,168
$ 5,699,954
$ 617,522
90
CITY OF EDINA, MINNESOTA
SCHEDULE OF CHANGES IN BONDED INDEBTEDNESS
YEAR ENDED DECEMBER 31, 1980
Special assessment bonds
Revenue bonds
Waterworks
Golf Course
.Recreation Center
General obligation bonds
Balance
January 1
$ 7,350,000
Issued
$1,400,000
Redeemed
$ 800,000
Balance
$ 7,950,000
50,000 503,000
370,000 40,000 330,000
505,000 105,000 400,000
2,450,000. 350,000 2,100,000
$10,725,000 $1,400,000 $1,345,000 $10,780.000.
BONDS PAYABLE
DECEMBER 31 1980
Issue
date
Special assessment bonds
$3,500,000 Improvement Bonds
of 1975 12/1/75
$500,000 per year
$2,700,000 Improvement Bonds
of 1977 11/1/77
$300,000 per year
$1,750,000 Temporary Improvement
.Bonds of 1978 11/1/78
$1,750,000
$1,500,000 Temporary Improvement
Bonds of 1979 6/1/79
$1,500,000
$1,400,000 Temporary Improvement
Bonds of 1980 11/1/80
$1,400,000
Total special assessment bonds
Interest Maturity. Principal
rate date amount
5.30 -5.50% 12/1/81 -83 $ 1,500,000
4.25 -4.40 11/1/81 -86 $ 1,800,000
5.4 11/1/81 $ 1,750,000
6.75 11/1/81 $ 1,500,000
7.35 11/1/81 $
1,400,000
$
7,950,000
Revenue bonds
$825,000 Golf Course Bonds
$40,000 per year
$50,000 per year
$300,000 Recreation Center
Series A
$30,000 per year
$150,000 Recreation Center
Series .B
$15,000 per year
$370,000 Recreation Center
Series D
$60,000 per year
$70,000 per year
91
CITY OF EDINA, MINNESOTA
BONDS PAYABLE (CONTINUED)
DECEMBER 31, 1980
Issue Interest Maturity Principal
date rate date amount
12/1/63
3/1/81
$ 50,000
3.30 -3A(A
12/1/81 -82
$ 80,000
3.40-3.50
12/l/83-87
250,000
500,000
6.00-6.40
$ 330,000
9/l/65
6.50
12/1/92 -93
3.30
9/1/81 -82
$ 60,000
9/1/65
3.00
9/1/81 -82
$ 30,000
11/1/78
Total revenue bonds
General long -term debt
$700,000 Park Construction Bonds 3/1/57
$50,000 per year
$2,200,000 General Obligation
Redevelopment Bonds 12/1/75
$50,000 per year
$100,000 per year
$200,000 per year
$250,000 per year
Total general long -term debt
Total bonds payable
5.20 11/1/81 -84 $ 240,000
5.25 11/1/85 70,000
$ 310,000
$ 730,000
3.90
3/1/81
$ 50,000
5.50
12/1/81
$ 50,000
5.50 -5.90
12/1/82 -86
500,000
6.00-6.40
12/l/87-91
1,000,000
6.50
12/1/92 -93
500,000
$ 2,050,000
$ 2,100,000
10,780,000
92
CITY OF EDINA, MINNESOTA
DEBT SERVICE REQUIREMENTS
DECEMBER 31, 1980
Year Special Assessment Bonds
Ended
Principal
Interest
1981
$5,450,000
$461,250
1982
800,000
120,100
1983
800,000
79,700
1984
300,000
39,300
1985
300,000
26,400
1986
300,000
13,200
1987
1.988
1989
1990
1991
1992
1993
$7,950,000 739 950
Na me
J. N. Dalen
Florence B. Hallberg
Ralph Johnson
Deputy assessors
Revenue B
Bonds
Principal I
Interest
$145,000 $
$ 302405
145,000 2
24,485
110,000 .
.18,565
110,000 1
13,745'
120,000 8
8,925
50,000 3
3,500
50,000 1
1,750
$101,375
EMPLOYEES' SURETY BONDS
DECEMBER 31, 1980
Position
Treasurer
Clerk
Assessor
General Long -term Debt
Principal Interest
$ 100,000 $ .125,500
100,000 122,750
100,000 117,250
100,000 111,750
100,000 106,150
100,000 100,400
200,000 94,500
200,000 82,500
200,000 70,300
200,000 57,900
200,000 45,300
250,000 32,500
250,000 16,250
$2,100,000 $1,083,050
Suretv Bond
$50,000
500
500
500
Police Department employees are covered by a faithful performance blanket position
bond of $5,000.
All employees,. except police department and Treasurer, are covered by a faithful
performance blanket position bond of $50,000.
$2,100,000 $1,083,050
Suretv Bond
$50,000
500
500
500
Police Department employees are covered by a faithful performance blanket position
bond of $5,000.
All employees,. except police department and Treasurer, are covered by a faithful
performance blanket position bond of $50,000.
CITY OF EDINA, MINNESOTA
TAX LEVIES AND COLLECTIONS
SPECIAL ASSESSMENT LEVIES AND COLLECTIONS
93
Percentage
Collection
Percentage
Collection
collections
Total
of current
of levy
of prior
Year
levy
year's levy
collected
year's levy
1976
$2,950,564
$2,844,997
96.42%
$ 60,903_
1977
3,226,450
3,152,345
97.70
80,716
1978
3,544,897
3,474,459
98.01
68,652
1979
3,655,500
3,604,948
98.62
.26,669
1980
4,1283,322
.4,083,521
98.91
35,791
SPECIAL ASSESSMENT LEVIES AND COLLECTIONS
93
Percentage
of total
Total
collections
collections
to levy
$2,905,900
98.49%
3,233,061
100.20
3,543,111
99.95
3,631,617
99.35
4,119,312
99.78
Percentage
Collection
Percentage
Collection
of total
Total
of current
of levy
of prior
Total
collections
Year
levy
year's levy
collected
year's levy
collections
to levy
1976
$1,371,621
$1,223,649
89.21%
$134,421
$1,358,070 .
99.01%
1977
1,398,780
1,237,843
88.49
213,757 -
1,451,600
103.78
-1978
1,304,745
1,210,181
92.75
127,406
1,337,587
102.52
1979
1,275,260
1,237,769
97.06
76,705
1,314,474
103.07
1980
1,127,933
1,092,310
96.84
66,910
1,159,220
.102.77
95
CITY OF EDINA, MINNESOTA
ASSESSED VALUATION, TAX LEVIES AND MILL RATES
(SHOWN BY YEAR OF TAX COLLECTIBILITY)
Assessed valuation
Increment valuation
Contribution to fiscal
disparities pool
Received from fiscal
disparities pool
Taxable valuation
Tax levies
General Fund
Park Fund
Bonds and interest
Fire protection
Total
Mill rates
1979
$416,601,475
( 2,049,949)
(13,851,121)
3,407,244
$404,107,649
$ 2,920,038
403,696
316,009
15.757
$ 3,655,500
1980
$436,802,624
( 6,083,511)
(15,346,797)
4,125,589
$419,497,905
$ 3,378,638
448,187
247,977
16,200
$ 4,091,002
1981
$504,778,611
( 7,973,641)
(19,175,260)
5,206,302
$482,836,012
$ 3,858,796
576,934
16,426
$ 4,452,156
General Fund 7.226 8.134 7.986
'Park Fund .999 1.079 1.194
Bonds and. interest .782 .597
Fire protection .039 .039 .034
Total 9.046 9.849 9.214