HomeMy WebLinkAbout1969 CAFR LQST. ANTHONY VILLAGE MUNICIPAL LIQUOR STORES
FINANCIAL REPORT - FOURTH QUARTER 1969
ST. ANTHONY MUNICIPAL LIQUOR STORE
BALANCE SHEET
DECEMBER 31, 1969
ASSETS
1, 1969
CASH IN BANK & TRANSIT
88,785.50
CHANGE AND IMPREST PETTY CASH
58,110,00
MISCELLANEOUS RECEIVABLES
14,265.37
MERCHANDISE INVENTORIES
268,578-80
INVESTMENTS - TREASURY BILLS
48,099.50
PREPAID EXPENSES
6,025.27
TOTAL CURRENT ASSETS
iP 483,864.44
LAND, BUILDINGS & IMPROVEMENTS
264,130.64
ALLOWANCE FOR DEPRECIATION
(72,409.27)
FURNITURE, FIXTURES & EQUIPMENT
135,910,15
ALLOWANCE FOR DEPRECIATION
86 219.'2
TOTAL FIXED ASSETS
$ 241,382.29
TOTAL ASSETS
$ 725,246.73
LIABILITIES
BALANCE, DECEMBER
TRADE ACCOUNTS PAYABLE
$ 58,956.48
ACCRUED SALARIES
2,648-74
ACCRUED PAYROLL DEDUCTIONS
7,758.89
MINNESOTA SALES TAX FUND
_ 6,542.85
TOTAL CURRENT LIABILITIES
$ 75,906.96
NET WORTH
649,339.77
TOTAL LIABILITIES AND NET WORTH
$ 725.246.73
NET WORTH SUMMARY
BALANCE, JANUARY
1, 1969
$ 661,838,86
NET INCOME, FIRST
QUARTER
169
$ 55,654.21
SECOND
QUARTER
169
65,837.42
THIRD
QUARTER
"69
100,751.16
FOURTH
QUARTER
t69
99,350.12
321,592.91
LESS TRANSFERS TO
GENERAL FUND
-334,092.00
BALANCE, DECEMBER
31, 1969
8 649.339.77
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ST. ANTHONY MUNICIPAL LIQUOR STORES
SUMMARY OF OPERATIONS
YEAR TO DECEMBER 31, 1969
STORE ONE
NET SALES
COST OF GOODS SOLD BE-
FORE PROMOTIONAL DISC.
GROSS PROFIT BEFORE
DISCOUNT
PROMOTIONAL DISCOUNT
GROSS PROFIT AFTER
DISCOUNT
OPERATING EXPENSE
SCHEDULE 1)
PROFIT FROM OPERATIONS
NET NON OPERATING INCOME
NET INCOME
STORE TWO
NET SALES
COST OF 60005 SOLD BE-
FORE PROMOTIONAL DISC.
GROSS PROFIT BEFORE
DISCOUNT
PROMOTIONAL DISCOUNT
GROSS PROFIT AFTER
DISCOUNT
OPERATING EXPENSE
SCHEDULE 1)
PROFIT FROM OPERATIONS
NET NON OPERATING INCOME
NET IN'.OME
1.
YEAR TO
12-31-69
_ %
YEAR TO
12-31-68
INCREASE
DECREASE*
100.00
1,097,950.28
100.00
1,002,839.35
95,110.93
67.28
738,748.01
65.03
652,090.06
86,657.95
32.72
359,202.27
34.97
350,749.29
8,452.98
3.82
41,990.03
3.63
36,370.92
5,619.11
36.54
401,192,30
38.60
387,120.21
14,072.09
19.63
215,503.11
18.59
186,485.82
29,017.29
16.91
185,689.19
20.01
200,634.39
14,945.20*
1.02
11,133.86
.93
9,396.62
1,737.24
17.93
196,823.05
20.94
210,031,01
13,207.96*
100.00
749,256.29
100.00
673,761.60
75,494.69
68.22
511,116.40
67.59
455,355.93
,760.4
31.78
238,139.89
32.41
218,405.67
19,734.22
3.92
291409.87
3.80
25,615.67
3,794.20
35.70
267,549.76
36.21
244,021.34
23,528.42
20.07
150,381.50
20.05
135,084.49
1 297.01
15.63
117,168.26
16.16
108,936.85
8,231.41
1.02
7,601.60
1.15
7,698.32
96.72
16.65
124,769.86
17.31
116,635.17
8034.69
ST. ANTHONY MUNICIPAL LIQUOR STORES
SUMMARY OF ON AND OFF SALES
YEAR To DECEMBER 31, 1969
COMBINED
4TH QTR.
YEAR TO
YEAR To
INCREASE
ON SALE
_ 1969
DATE 1969
DATE 1968
DECREASE*
NET SALES
138,064.24
521,116.28
496,113.53
25,002.75
COST of GOODS SOLO
44,524.47
173.263.09
155,531.20
17,731.89
GROSS PROFIT FROM SALES
93,539.77
347,853.19
340,582.33
7,270.86
RATIO To NET SALES
67.75%
66.75%
68.65%
1.9o%*
OPERATING EXPENSE:
SALARIES & WAGES
42,620.36
167,293.85
149,452.85
17,841.00
ALL OTHER EXPENSE
13,059.70
47,644.82
44,508.03
3,136.79
TOTAL OPERATING EXPENSE
55,660.06
214,938.67
193,960.86
20,977.79
RATIO To NET SALES
40.33%
41.24%
39.1001-
2.14%
PROFIT FROM OPERATIONS
37,859.71
132,914.52
146,621.45
13,706.93*
OTHER INCOME — NET
1,706.60
7,042.76
7,273.13
230.37*
NET INCOME
39,566.31
139,957.26
153,894.58
13,937.30*
RATIO To NET SALES
28.66%
26.85%
31.02%
4.17%*
OFF SALE
NET SALES
COST
404,238.39 1,326,090.29
1,180,487.42
145,602.87
OF G000s SOLO
3059397.22 11005,201.42
889,928.20
115,273.22
GROSS PROFIT FROM SALES
98,841.17
320,888.87
290,559.22
30,329.65
RATIO To NET SALES
24.45%
24.20%
24.61%
0.41%*
OPERATING EXPENSE:
SALARIES & WAGES
ALL
30,894.44
108,391.24
90,475.70
17,915.54
OTHER EXPENSE
12,126.54
42,554.70
37,133.73
5,420.97
TOTAL OPERATING EXPENSE
43,020.98
150,945.94
127,609.43
23,336.51
RATIO TO NET SALES
10.64%
11.38%
10.60%
0.56%
PROFIT FROM OPERATIONS
55,820.19
169,942.93
162,949.79
6,993.14
OTHER INCOME — NET
3,963.62
11,692,70
9,821.61
1,670.69
NET INCOME
59,783.81
181,635.63
172,771.60
8,864.03
RATIO To NET SALES
14.79%
13.70%
14.63%
0.93%*
ST. ANTHONY MUNICIPAL LIQUOR STORE
SUMMARY OF ON AND OFF SALES
STORE ONE
YEAR TO DECEMBER 31, 1969
ON SALE
4TH QTR.
1969
YEAR TO
DATE 1969
YEAR TO
DATE 1968
INCREASE
DECREASE*
NET SALES
87,573.87
348,757.16
337,772.57
10,984.59
COST OF G000s SOLO
27,974.59
115,918.24
104,214.34
11.703.90
GROSS PROFIT ON SALES
59,599.28
232,838.92
233,558.23
719.31*
RATIO To NET SALES
68.05%
66.76%
69.14%
2.38%*
OPERATING EXPENSE:
SALARIES, WAGES & BENEFITS
26,728.56
106,590.79
92,777.72
13,813007
ALL OTHER EXPENSE
8,047,32
28,728.29
26,388.97
2,339-32
TOTAL OPERATING EXPENSE
34,775.88
135,319.08
119,166.69
16,152.39
RATIO To NET SALES
39.71%
38.80%
35.28%
3.52%
PROFITS FROM OPERATIONS
24,823.40
97,519.84
114,391.54
16,871.70*
OTHER INCOME — NET
917.26
4,039.27
3,896.76
142.51
NET INCOME
25,740.66
101,559.11
118,288,30
16,729.19*
RATIO To NET SALES
29.39%
29.12%
35.02%
5.90%*
OFF SALE
NET SALES
COST
220,354.97
749,193.12
665,066.78
84,126.34
OF GOODS SOLD
175,028.43
580,839.74
511,504.80
69,334-94
GROSS PROFIT FROM SALES
45,326.54
168,353.38
153,561.98
14,791.40
RATIO TO NET SALES
20.575
22.47%
23.08%
.61%*
OPERATING EXPENSE:
SALARIES, WAGES & BENEFITS
17,561.91
60,686.91
51,802.10
8,884,81
ALL OTHER EXPENSE
5,447.95
19,497.12
15, 17.03
3,980.09
TOTAL OPERATING EXPENSE
23,009.86
80,184.03
67,319.13
12,864.90
RATIO TO NET SALES
10.44%
10.70%
10.12%
,58%
PROFIT FROM OPERATIONS
OTHER
22,316,68
88,169.35
86,242.85
1,926.50
INCOME - NET
_ 2,.347.31
7,094.59
52499.86
_1,594.73
NET INCOME
24,663.99
95,263.94
91,742.71
3,521.23
RATIO TO NET SALES
11,19%
12.72%
13.79%
1.07%*
ST. ANTHONY MUNICIPAL LIQUOR STORE
SUMMARY OF ON AND OFF SALES
STORE TWO
YEAR TO DECEMBER 31, 1969
4TH QTR. YEAR TO
ON SALE 1969 DATE 1969
NET SALES 50,490.37 172,359.12
COST OF GOODS SOLD 16,549.88 57,344.85
GROSS PROFIT ON SALES 33,940.49 115,014.27
RATIO TO NET SALES 67.22% 66,73%
OPERATING EXPENSE:
SALARIES, WAGES & BENEFITS
ALL OTHER EXPENSE
TOTAL OPERATING EXPENSE
RATIO TO NET SALES
PROFITS FROM OPERATIONS
OTHER INCOME - NET
NET INCOME
RATIO TO NET SALES
OFF SALE
NET SALES
COST OF GOODS SOLD
GROSS PROFIT FROM SALES
RATIO TO NET SALES
OPERATING EXPENSE:
SALARIES, WAGES & BENEFITS
ALL OTHER EXPENSE
TOTAL OPERATING EXPENSE
RATIO TO NET SALES
PROFIT FROM OPERATIONS
OTHER INCOME - NET
NET INCOME
RATIO TO NET SALES
15,891.80
5,012.38
20,904.18
41-409/-
13,036-31
1.40%13,036.31
789.34
13,825.65
27.38%
183,883.42
130,368.79
53,514.63
29.10%
13,332.53
6,678.59
20,011.12
10.88%
33,503.51
1,616.31
35,119.82
19.10%
60,703.06
18,916.53
79,619.59
46.19%
35,394.68
3,003.49
38,398.17
22.28%
576,897.17
424,361.68
152,535.49
26.44%
47,704.33
23,057.58
70,761.91
12.27%
81,773.58
4,598.11
86,371.69
14.97%
YEAR To
DATE 1968
158,340.96
_51,316.86
107,024.10
67-5V-
56,675-13
18,119.06
74,794.19
47.24%
32,229.91
3,376.37
35,606.28
22.49%
515,420.64
378,423.40
136,997.24
26.58%
38,673.60
21,616.70
60,290.30
11.70%
76,706.94
_ 4,321.95
81,028.89
15.72%
INCREASE
DECREASE*
14,018,16
6,027,99
7,990,17
0.86%*
4,027.93
797.47
4,825.40
1.05%*
3,164.77
372.88*
2,791.89
0.21%*
61,476.53
45.938.28
15,538.25
0.14%*
9,030.73
1 0.88
10,471.61
0.57%
5,066.64
276.16
5,342.80
0.75%*
ST. ANTHONY MUNICIPAL LIQUOR STORE
OPERATING EXPENSE SCHEDULE 1)
YEAR TO DECEMBER 31, 1969
COMBINED
BAR WAGES
OFF SALE WAGES
CUSTODIANS WAGES
MANAGERS SALARY
BOOKKEEPER'S SALARY
MEDICAL - LIFE INSURANCE
PENSION CONTRIBUTION
PAYROLL EXPENSE
LAUNDRY
BAR SUPPLIES
OFF SALE SUPPLIES
CLEANING SUPPLIES
OFFICE EXPENSE
TRAVEL EXPENSE
SUPPLIES - EXPENSE
RENT
HEAT - FUEL
UTILITIES
TELEPHONE
SANITATION EXPENSE
CASUALTY - LIABILITY INS.
RE?AIRS - MAINTENANCE
DEPRECIATION
OCCUPANCY EXPENSE
SECURITY SERVICES
ADVERTISING - SIGNS
ACCTG. - LEGAL - LICENSES
MUSIC SERVICE
SERVICES
4TH QTR.
1969
30,496.64
20,357.63
3,6so.2o
8,412.66
2,633.26
2,810.30
6,581.39
74.9 2.08
1,101.00
1,924.98
1,318.30
364,92
190.23
237.98
5,137,41
4,659,70
555.75
1,896,51
218.80
328.50
2,520.17
1,035,69
4,016.81
15,231.93
506.15
230.79
2,557.28
65.40
3,359.62
YEAR TO
DATE 196
123,839.50
70,075.65
12,516.24
33,161.24
10,398.87
5,921.68
21,229.19
277,142.37
4,011.23
8,264,91
4,258.40
1,264.36
1,688.87
729.25
20,217.02
16,651.84
1,800.62
7,118.43
884.01
1,292.50
11,778.89
5,371.09
15,704.78
60,602.16
1,443.90
658.04
5,559.52
261.60
7,923.06
OPERATING EXPENSE TOTAL 98.701,04 365,884.61
YEAR To
DATE 1968
112,730.81
58,743.35
10,953.60
28,827,98
9,463.55
3,421.91
15,787.35
239,928.55
3,565.08
7,812.98
3,106.80
898,42
854.86
674.94
16,913.08
16,376.32
1,645.52
7,494,56
809.47
1,107.00
9,829.09
3,260.18
15,513,04
56,035.18
1,768.55
948.80
5,736,35
239.80
8,693.50
321.570 31
INCREASE
DECREASE*
11,108.69
11,332.30
1,562.64
4,333.26
935.32
2,499.77
5,441.84
3 ,21 .82
446.15
451.93
1,151.60
365.94
834.01
54-31
o L9
275.52
155.10
376.13*
74,54
185.50
1,949.80
2,110.91
191.74
-IL566.98
324.65*
290.76*
176.83*
21.80
770.44*
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NOTES ON QUARTERLY REPORT
YEAR OF 1969 AND (4TH QUARTER DETAIL)
BALANCE SHEET
CASH INCREASED $14,463 OVER YEAR AGO (813,902 OVER 3RD QUARTER).
MISCELLANEOUS RECEIVABLE INCLUDES $13,674 DUE FOR INSURANCE CLAIM
PENDING. MERCHANDISE INVENTORY $25,253 ABOVE DEC. 31, 1968 (DOWN
$17,779 — SEPT. 30, 1969). DUE TO CASH AND INVENTORY DEMANDS IN—
VESTMENT ACCOUNT TEMPORARILY REDUCED APPROXIMATELY $49,000 BOTH PERIODS.
INCOME STATEMENT
SALES INCREASE $170,606 (10.2%) ABOVE 1968. COST OF GOODS INCREASED
FROM 66.05% TO 67.66%. PROMOTIONAL DISCOUNT UP 3.69 TO 3.86% ($9,413)
AND OPERATING EXPENSE INCREASED $44,314 (0.620. NET INCOME DECREASE
$5,073 (1.6%).
STORE ONE
NET SALES UP $95,111• (9.5%) COST OF GOODS UP 65.03% TO 67.28%.
OPERATING EXPENSE UP 1.05%. NET INCOME OFF $13,208 (6.3%).
STORE TWO
NET SALES UP $75,495. (11.2%) COST OF GOODS UP 67.59OTo 68.22/q
OPERATING EXPENSE UP 0.02%. NET INCOME UP $6,135 (7.0%)•
ON SALE
COMBINED SALES UP $25,003. INCOME DOWN $13,937.
STORE #1 SALES UP $10,985. INCOME DOWN $16,729.
STORE #2 SALES UP $14:018. INCOME UP $2,792.
OFF SALE
COMBINED SALES UP $145,603. INCOME UP $8,864.
STORE #1 SALES UP $ 84,126. INCOME UP $3,521.
STORE #2 SALES UP $ 61,477. INCOME UP $5,343.
ST, ANTHONY VILLAGE MUNICIPAL LIQUOR STORES
FINANCIAL REPORT - THIRD QUARTER 1969
ST. ANTHONY MUNICIPAL LIQUOR STORE
BALANCE SHEET
SEPTEMBER 30, 1969
ASSETS
CASH IN BANK & TRANSIT
$ 74,883-76
CHANGE AND VMPREST PETTY CASH
58,110.00
MISCELLANEOUS RECEIVABLES
2,441.89
MERCHANDISE INVENTORIES
286,357.74
INVESTMENTS - TREASURY BILLS
96,935.00
PREPAID EXPENSES
9.640.43
TOTAL CURRENT ASSETS
$ 528,368.82
LAND, BUILDINGS & IMPROVEMENTS
264,100.64
ALLOWANCE FOR DEPRECIATION
(70,536.97)
FURNITURE, FIXTURES & EQUIPMENT
135,012.15
ALLOWANCE FOR DEPRECIATION
(84,074.72)
TOTAL FIXED ASSETS
S 244,501,10
TOTAL ASSETS
$ 772.869.92
LIABILITIES
TRADE ACCOUNTS PAYABLE $ 71,760.27
ACCRUED SALARIES 6,151.39
ACCRUED PAYROLL DEDUCTIONS 4,686.69
MINNESOTA SALES TAX FUND _ 4,939.92
TOTAL CURRENT LIABILITIES S 87,538.27
NET WORTH 685,331.65
TOTAL LIABILITIES AND NET WORTH 772,869.92
NET WORTH SUMMARY
BALANCE, .JANUARY 10 1969 3 661,838.86
NET INCOME , FIRST QUARTER t69 $55,654.21
SECOND QUARTER 169 65,837.42
THIRD QUARTER 169 10!),'%51.16 222,242.79
LESS TRANSFERS TO GENERAL FUND -198,750.00
BALANCE, SEPTEMBER 30, 1969 $ 685.331 65
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ST. ANTHONY MUNICIPAL LIQUOR STORES
SUMMARY ff OPERATIONS
YEAR TO SEPTEMBER 30, 1969
STORE OMYEAR
TO
9-30-69
YEAR TO
9-30-68
INCREASE
NET SALES
100.00
790,021.44
_%
100,00
722,525,00
DECREASE*
67,496.44
COST OF GOODS SOLO BE-
FORE PROMOTIONAL DISC.
GROSS PROFIT BEFORE
66,11
522,294.90
65.03
4692820.45
52,474.45
DISCOUNT
33.89
267,726.54
34.97
252,704.55
15,021.99
PROMOTIONAL DISCOUNT
GROSS PROFIT AFTER
3.61
_282539.94
3.28
23,658,99
880,9
DISCOUNT
OPERATING EXPENSE
37.50
296,266.48
38.25
276,363.54
19,902,94
(SCHEDULE 1)
19.96
_1.57,717.37
18.77
135,651.47
22�06r.
PROFIT FROM OPERATIONS
17.54
138,549.11
19.48
140,712.07
`O
2,162,96*
NET NON OPERATING INCOME
1.00
86 .29
.99
7,212.21
6.D8
NET INCOME
18.54
146,418.40
20.47
147.924.28
1,505.88*
STORE TWO
NET SALES
100.00
514,882.50
100.00
464,763.95
50,118.55
COST OF GOODS SOLD BE-
FORE PROMOTIONAL Disc.
GROSS PROFIT BEFORE
68.93
3541,868.34
67.94
315,769.71
ILL98.6
DISCOUNT
31.07
160,014.16
32,06
148,994.24
11,019.92
PROMOTIONAL DISCOUNT
GROSS PROFIT AFTER
3.90
20,080,48
3.53
- 16,432.63
+6 47.8
DISCOUNT
OPERATING EXPENSE
34.97
180,094.64
35.59
165.426.87
14,667.77
(SCHEDULE 1)
21.25
109,466.20
21.41
99,499.37
9,966.83
PROFIT FROM OPERATIONS
13.72
70p628-44
44
1 18
4,
65,927.50
4,700.94
NET NON OPERATING INCOME
1.01
5,195 95
1.23
_ 5,689.21
3.26
NET INCOME
14.73
75.824.39
15.41
71,616.71
4,207.68
ST. ANTHONY MUNICIPAL LIQUOR STORES
SUMMARY OF ON AND OFF SALES
YEAR TO SEPTEMBER 30, 1969
COMBINED
ON SALE
3RD QTR.
1969
YEAR TO
DATE 1 69
YEAR TO
DATE 1968
INCREASE
DECREASE*
NET SALES
COST OF GOODS SOLD
1339433.84
383,052.04
367,570.33
15,481.71
GROSS PROFIT FROM SALES
44,891.90
88,541.94
128,738.62
254,313.42
114,720.26
252,850.07
14,018.36
1,463.35
RATIO To NET SALES
66.36%
66,39%
68.79%
2.40%*
OPERATING EXPENSE
SALARIES & WAGES
ALL OTHER EXPENSE
37,544.53
114017.98
102,069.92
11,948.06
17,311.10
_ 44,240.61.
_40,832.94
4,407.69
TOTAL OPERATING EXPENSE
54,855.63
159,258.61
142,902.86
16,355.75
RATIO To NET SALES
41.11%
41.58%
38.88%
2,70%
PROFIT FROM OPERATIONS
OTHER INCOME — NET
33,686.31
95,054.81
109,947.21
14,892.40*
1,705.27
5,336.16
5,69 .63
359.47*
NET INCOME
359391.58
100,390.97
115,642.84
15,251.87*
RATIO To NET SALES
26.52%
26.50%
31.46%
4.96%*
OFF SALE
NET SALES
COST OF GOODS SOLD
336,794.44
232,913.8
921,851.90
699,804.20
819,718.62
630,778.28
102,133.28
69.025.92
GROSS PROFIT FROM SALES
103,880.59
222,047.70
188,940.34
33,107.36
RATIO To NET SALES
30.84%
24„08%
23.05%
1.03%
OPERATING EXPENSES
SALARIES & WAGES
ALL OTHER EXPENSE
262182.50
70,393.13
60,670.27
9,722.86.
14,141.26
_37,531,83
31,577.71
—J.954.112
TOTAL OPERATING EXPENSE
40,323.76
107,924.96
92,247.98
15,676.98
RATIO TO NET SALES
11.9%%
11.70%
11.25%
.45%
PROBIT FROM OPERATIONS
OTHER INCOME
63,556.83
114022.74
96,692.36
17,430.38
— NET
1,80_ 2.75
7,729.0E
7,205.79
_ 523.29
NET INCOME
65,359.58
121,851.82
103,898.15
17,953.67
RATIO TO NET SALES
19.41%
13.29%
12.67%
.62%
ST. ANTHONY MUNICIPAL LIQUOR STORE
SUMMARY OF ON AND OFF SALES
STORE ONE
YEAR TO SEPTEMBER 30, 1969
3RD QTR,
YEAR TO
YEAR TO
INCREASE
ON SALE
1969
DATE 1969
DATE 1968
DECREASE*
NET SALES
93,514.51
261,183.29
253,486,04
7,697.25
COST of GOODS SOLD
31,925.58
87,943.65
77,940.44
10,003,21
GROSS PROFIT ON SALES
61,588.93
173,239.64
175,545.60
2,305.96*
RATIO To NET SALES
65.86%
66.32,
69.25%
2.93%*
OPERATING EXPENSE:
SALARIES & WAGES
239901.67
73,348.75
62,969.06
10,379.69
ALL OTHER EXPENSE
10,574.72
27,194.45
23,567.96
3,626.49
TOTAL OPERATING EXPENSE
34,476.39
1009543.20
86,537.02
14,006.18
RATIO To NET SALES
36.87,
38.50%
34.14%
4.36%
PROFITS FROM OPERATIONS
27,112.54
72,696.44
89,008.58
16,312.14*
OTHER INCOME — NET
1,017.20
3,122.01
3,070.00
52.01
NET INCOME
28,129.74
75,818.45
92,078.58/
16,260.13*
RATIO TO NET SALES
30.08%
29.03%
36.32%
7.29'*
7��
OFF SALE
NET SALES
194,878.25
528,838.15
469,038.96
59,799.19
COST OF GOODS SOLD
131,338.71
405,811.31
368,221.02
37,590.29
GROSS PROFIT FROM SALES
63,539.54
123,026.84
100,817.94
22,208.90
RATIO TO NET SALES
32.60,
23.26%
21.49,
1.77%
OPERATING EXPENSE:
SALARIES & WAGES
14,138.48
38,782.69
34,610.59
4072.10
ALL OTHER EXPENSE
7,260.14
18,391.48
14,503.86
3,887.62
TOTAL OPERATING EXPENSE
21,398.62
57,174..17
49,114.45
8,059.72
RATIO TO NET SALES
10.98,
10.81%
10.47%
0.34%1
PROFIT FROM OPERATIONS
42,140.92
65,852.67
51,703.49
14,149.18
OTHER INCOME — NET
1,102.27
1,747.28
4,142.21
605.07
NET INCOME
43,243.19
709599.95
55,845.70
14,754.25
RATIO To NET SALES
22.19%
13.35%
11.91,
1.44%
ST. ANTHONY MUNICIPAL LIQUOR STORE
SUMMARY Or ON AND OFF SALES
STORE TWO
YEAR TO SEPTEMBER 30, 1969
ON SALE
3RD QTR.
1969
YEAR TO
DATE 1969
YEAR TO
DATE 1968
INCREASE
DECREASE*
NET SALES
39,919.33
121,868.75
114,084.29
7,784.46
COST OF GOODS SOLD
12,966.32
40,794.97
_36,779.82
4 ,015-15
GROSS PROFIT ON SALES
26,953.01
81,073.78
77,304.47
3,769.31
RATIO To NET SALES
67.51%
66.53%
67.85%
1.32%
OPERATING EXPENSE:
SALARIES & WAGES
13,642.86
40,669.23
39,100.86
1,568.37
ALL OTHER EXPENSE
6,736.38
18,046.18
17,264.98
781,20
TOTAL OPERATING EXPENSE
20,379.24
58,715.41
56,365.84
2,349.57
RATIO To NET SALES
51.05%
48.18%
49.41%
1.23%*
PROFITS FROM OPERATIONS
6,573.77
22,398.37
20,938.63
1,419.74
OTHER INCOME — NET
688.07
2,214.1
2,625.63
411.48*
NET INCOME
7,261.84
24,572.52
23,564.26
1,008.26
RATIO To NET SALES
18.19%
20.16%
20.66%
,50%*
OFF SALE
NET SALES
141,916.19
393,013.75
350,679.66
42034.09
COST OF G000s SOLD
101,575.14
293,992.89
262,557.26
31,435.63
GROSS PROFIT FROM SALES
40,341.05
99,020.86
88,122,40
10,898.46
RATIO To NET SALES
28.43%
25.20%
25.13%
0.07%
OPERATING EXPENSE;
SALARIES & WAGES
12,044.02
31,610.44
26,059.68
5,550.76
ALL OTHER EXPENSE
61881.12
19,140.35
17,073.8
2,066.50
TOTAL OPERATING EXPENSE
18,925.14
50,750.79
43,133.53
7,617.26
RATIO To NET SALES
13.34%
12.91%
12.30%
0.61%
PROFIT FROM OPERATIONS
21,415.91
489270.07
44,988.87
3,281.20
OTHER INCOME — NET
700,48
2,981.80
3,063.58
' 81.78*
NET INCOME
22,116.39
51,251.87
48,052.45
3,199.42
RATIO TO NET SALES
15,58%
13,04%
13+70%
0.66%*
ST. ANTHONY MUNICIPAL LIQUOR STORE
OPERATING EXPENSE SCHEDULE 1)
YEAR TO SEPTEMBER 30, 1969
COMBINED
SERVICES 2,141.81 . 4,563.44 5.224.3 660.89*
OPERATING EXPENSE TOTAL 95,179.39 267,183.57 235,150.84 32,032.73
3RD QTR.
YEAR TO
YEAR TO
INCREASE
1969
DATE 1969
DATE 1968
DECREASE*
BAR WAGES
30,710.99
93,342.86
83,560.22
9,782.64
OFF SALE WAGES
19,348.94
49,718.02
42,160.57
7,557.45
CUSTODIANS WAGES
3,011.25
8,836.04
8,164.39
671.65
MANAGER'S SALARY
8,022.25
24,748.58
21,773.06
2,975.52
BOOKKEEPERS SALARY
2,633.60
7,765.61
7,081.95
683.66
MEDICAL - LIFE INSURANCE
1,115.31
3,111.38
2,826.63
284.75
PENSION CONTRIBUTION
5,985.24
14,647.80
11,232.94
3,414.86
PAYROLL EXPENSE
70,827.58
202,170.29
176,799.76
25,370.E
LAUNDRY
920.29
2,910.23
2,660.50
249.73
BAR SUPPLIES
2,540.03
6,339.93
5,649.00
690.93
OFF SALE SUPPLIES
1,240.38
2,940.10
2,017.65
922.45
CLEANING SUPPLIES
243,01
899.44
596.72
302.72
OFFICE EXPENSE
513.95
1,498.64
545.43
953.21
TRAVEL EXPENSE
119.33
491.27
467.48
23.79
SUPPLIES - EXPENSE
5.576.99
15,079.61
11,936.78
3,142.83
RENT
3,997.38
11,992.14
12,378.94
386.80*
HEAT - FUEL
256.52
1,244.87
1,257.37
12.50*
UTILITIES
TELEPHONE
2,516.97
5,221.92
5,311.32
89.40*
221.71
665,21
579.13
86.06
SANITATION EXPENSE
320.50
964.00
776.00
188.00
CASUALTY - LIABILITY INS.
3,990.16
9,258.72
6,820.70
2,438.02
REPAIR - MAINTENANCE
1,386.02
4,335,40
2,391.24
1,944.16
DEPRECIATION
3,943.7
11,667.97
11,675.27
12.70
OCCUPANCY EXPENSE
16.633.01
45,370.23
41,189.97
4,180.26
SECURITY SERVICES
308.50
937.75
977.27
39.52*
ADVERTISING - SIGNS
152.05
427.25
678.40
251.15*
ACCTG. - LEGAL - LICENSES
1,615.86
3,002.24
3,394.26
392,02*
MUSIC SERVICE
65.40
196.20
174.40
21.80
SERVICES 2,141.81 . 4,563.44 5.224.3 660.89*
OPERATING EXPENSE TOTAL 95,179.39 267,183.57 235,150.84 32,032.73
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NOTES ON QUARTERLY REPORT
THIRD QUARTER ENDED SEPTEMBER 30, 1969 .
BALANCE SHEET
CASH INCREASE OF $63,000 DUE TO REDUCTION OF MERCHANDISE
INVENTORY OF $65,000. NO OTHER SIGNIFICANT ASSET OR
LIABILITY CHANGES. NET WORTH NET INCREASE OF $35,000.
(EARNINGS EXCEEDED TRANSFERS BY THIS AMOUNT).
INCOME STATEMENT
SALES INCREASE FOR THIRD QUARTER $55,364. AND ACCUMULATED
INCREASE FOR YEAR $117,615. ABOVE COMPARABLE 1968 PERIODS.
COST OF GOODS SOLD INCREASE FOR NINE MONTH PERIOD 0.71%.
OPERATING EXPENSE UP $32,033. (0.66%) AND NET INCOME UP
$2,702. (DOWN 1.46% OF SALES).
STORE ONE
SALES FOR FIRST NINE MONTHS UP $67,496. (9.34%). COST OF
GOODS SOLD COMPARISON UP 0.75%. NET INCOME DECREASE $1,506.
(OFF 1.93% ON SALES).
STORE TWO
SALES UP $50,119. (10.78). COST OF GOODS SOLD UP 0.620.
NET INCOME INCREASE $4,208. (OFF 0.68 ON SALES).
COMMENTS
RECOVERY FROM FIRST TWO QUARTERS PROFIT SQUEEZE APPEARS TO
BE COMPLETED. THE SIGNIFICANT PROFIT FROM PRE-TAX INCREASE
AND PRE -PRICE INCREASE PURCHASING HAS NOW MOSTLY BEEN ABSORBED
INTO INCOME AND PARTIALLY ACCOUNTS FOR ABNORMAL PROFITS IN
THIS QUARTER (APPROXIMATELY $30,000 OF THE TOTAL). INVENTORY,
MARGINS AND OPERATING EXPENSE RATIO ALL ARE IN REASONABLE
SHAPE AS THE IMPORTANT FINAL QUARTER GETS UNDER WAY. SOME
OPPORTUNITY BUYING AS WELL AS GENERAL BUSINESS CONDITIONS
INDICATE A SATISFACTORY CLIMAX TO THIS YEAR.
ST. ANTHONY VILLAGE MUNICIPAL LIQUOR STORES
FINANCIAL REPORT - SECOND QUARTER 1969
ST. ANTHONY MUNICIPAL LIQUOR STORE
BALANCE SHEET
JUNE 30, 1969
ASSETS
CASH IN BANK & TRANSIT
$ 12,239.47
CHANGE AND IMPREST PETTY CASH
63010.00
MISCELLANEOUS RECEIVABLES
892.55
MERCHANDISE INVENTORIES
350,826.94
INVESTMENTS - TREASURY BILLS
96,935.00
PREPAID EXPENSES
9,130.59
TOTAL CURRENT ASSETS
$ 533,134.55
LAND, BUILDINGS & IMPROVEMENTS
$ 262,766.14.
ALLOWANCE FOR DEPRECIATION
(68,733.76)
FURNITURE, FIXTURES & EQUIPMENT
134,191.80
ALLOWANCE FOR DEPRECIATION
(81,934-18)
TOTAL FIXED ASSETS
$ 246,290.00
TOTAL ASSETS
$ 779,424.55
LIABILITIES
TRADE ACCOUNTS PAYABLE
$ 110,746.15
ACCRUED SALARIES
10,978.67
ACCRUED PAYROLL DEDUCTIONS
2,183.67
MINNESOTA SALES TAX FUND
4,685.57
TOTAL CURRENT LIABILITIES
$ 128,594.06
NET WORTH
650,830.49
TOTAL LIABILITIES AND NET WORTH
779,424.55
NET WORTH SUMMARY
BALANCE, JANUARY 1, 1969
$ 661,838.86
NET INCOME, FIRST QUARTER ?69 $55,654.21
SECOND QUARTERY69 65,837.42
121,491.63
LESS TRANSFERS TO GENERAL FUND
-1321500.00
BALANCE, JUNE 30, 1969
$ 650.830 49
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ST. ANTHONY MUNICIPAL LIQUOR STORES
SUMMARY OF OPERATIONS
YEAR TO JUNE 30, 1969
YEAR TO YEAR TO INCREASE
STORE ONE °0 6-30-69 % 6-30-68 DECREASE*
NET SALES 100,00 501,628.68 100.00 471,194.07 30:434.61
COST OF GOODS SOLD BE-
FORE PROMOTIONAL Disc. 70.70 354 623 43 65.69 309,506.91 _ 45,116.52
GROSS PROFIT BEFORE
DISCOUNT 29.30 147,005.25 34.31 161,687.16 14,681.91*
PROMOTIONAL DISCOUNT 4.81 24,132.76 3.49 16,431.35 7'701'41
GROSS PROFIT AFTER
DISCOUNT 34.11 171,138.01 37.80 178,118.51 6,980.50*
OPERATING EXPENSE
SCHEDULE 1) 20.30 101,842.36 18.69 88,061.90 13,780.46
PROFIT FROM OPERATIONS 13.81 69,295.65 19.11 90,056.61 20,760.96*
NET NON OPERATING INCOME 1.15 5,749.82 .97 4,566.19 1,183.63
NET INCOME 14.96 75,045.47 20.08 94,622.80 19,577.33*
STORE TWO
NET SALES 100.00 333,046.98 100.00 301,230.66 31,816-32
COST OF GOODS SOLD BE- 3
FORE PROMOTIONAL Disc. 71.13 236,907.83 67.79 204,203.29 32,704.54
GROSS PROFIT BEFORE
DISCOUNT 28.87 96,139.15 32.21 97,027.37 888.22*
PROMOTIONAL DISCOUNT 5.00 16,661.43 3.81 11,464.09 5,197.34
GROSS PROFIT AFTER -
DISCOUNT 33.87 112,800.58 36.02 108,491.46 4,309.12
OPERATING EXPENSE
(SCHEDULE 1) 21.07 70,161.82 21.87 65,857.89 4,303.93
PROFIT FROM OPERATIONS 12.80 42,638.76 14.15 42,633.57
5.19
NET NON OPERATING INCOME 1.14 33,807.40 1.19 3,579-54 227.86
NET INCOME 13.94 46,446.16 15.34 46,213.11 233-05
ST. ANTHONY MUNICIPAL LIQUOR STORES
SUMMARY OF ON AND OFF SALES
YEAR TO JUNE 309 1969
COMBINED
2ND QTR,
YEAR TO
YEAR To
INCREASE
ON SALE
1969
DATE 1969
DATE 1968
DECREASE*
NET SALES
127,797.41
249,618.20
2469222,70
3,395.50
COST OF GOODS SOLD
11,3 1,12
8_346.72
77,195.21
6,651.51
GROSS PROFIT FROM SALES
83,4 .29
1 5,771.48
16g,o27.49
3,256.o1*
RATIO To NET SALES
65.31%
66.41%
68.65
2.240%0*
OPERATING EXPENSES
SALARIES & WAGES
38009.13
76,473.45
67,081.67
9,391.78
ALL OTHER EXPENSE
14,186.45
27,929.53
26,395.90
1,533.63
TOTAL OPERATING EXPENSE
52,495.58
104,402.98
93,477.57
10,925.41
RATIO TO NET SALES
41.08%
41,82%
37.96%
3.86%
PROFIT FROM OPERATIONS
30,970,71
61,368.50
75,549.92
14,181.42*
OTHER INCOME - NET
1,877.84
3,630.89
3,45B,49
172.40
NET INCOME
32,848.55
64,999.39
79,008,41
14,009.02*
RATIO TO NET SALES
25.70%
26.04
32.09
6.o5y*
OFF SALE
NET SALES
308,914.31
585,057.46
5269202.03
58,855.43
COST OF GOODS SOLD
244,046.83
466,890.35
408,619.55
58,270,80
GROSS PROFIT FROM SALES
64,867.48
1189167,11
117,582.48
584.63
RATIO TO NET SALES
21.000
20.1 9
22.35%
2.16/*
OPERATING EXPENSES
SALARIES & WAGES
22,658.01
44,210.63
39,596.59
4,614.04
ALL OTHER EXPENSE
12,938.20
23,390.57
20,845.63
2,544.94
TOTAL OPERATING EXPENSE
35,596.21
67,601.20
60,442.22
7,158.98
RATIO TO NET SALES
11.52%
11.55%
11.49
0.06%
PROFIT FROM OPERATIONS
29,271.27
50,565.91
57,140.26
6,574.35*
OTHER INCOME - NET
3,717.60
5,926.33
4,687.24
1,239.09
NET INCOME
32,988.87
569492.24
61,827.50
5,335.26*
RATIO TO NET SALES
10.68%
9.66/
11.75%
2.09"/0*
ST. ANTHONY MUNICIPAL LIQUOR STORE
SUMMARY OF ON AND OFF SALES
STORE ONE
YEAR TO JUNE 30, 1969
OPERATING EXPENSE:
SALARIES & WAGES
2ND QTR.
YEAR To
YEAR To
INCREASE
ON SALE
1969
DATE 1969
DATE 1968
DECREASE*
NET SALES
88,005.13
167,668.78
1699285.91
10617.13*
COST OF GOODS SOLD
29,865.32
56,018.07
52.349.95
1,6611.12
CROSS PROr- n- ON SALES
58,139.81
111,650.71
116,935.96
5,285.25*
RATIO To NET SALES
66.06%
66.59%
69.07%
2.40*
OPERATING EXPENSE:
SALARIES & WAGES
24,846.33
49,447.08
40,723,52
8,723,56
ALL OTHER EXPENSE
TOTAL OPERATING EXPENSE
8,296.69
33,143.02
16 619.73
6
15,196.20
1,423.53
,�
55,919.72
10,147.09
RATIO To NET SALES
37.66%
39.40%
33.03%
6.37%
PROFITS FROM OPERATIONS
24,996.79
45,583.90
61,016.24
15,432.34*
OTHER INCOME - NET
1,101.28
2,104.81
1.864.25
240.56
NET INCOME
26,098.07
47,688.71
62,880.49
15,191.78*
RATIO To NET SALES
29.65%
28.44%
37.14%
8.70%*
OFF SALE
NET SALES
178,121.91
333,959.90
301,908.16
32,051.74
COST of GOODS SOLD
144,942.43
274,472.60
240,725,61
33.746.99
GROSS PROFIT FROM SALES
33,179.48
59,487.30
61,182.55
1,695.25*
RATIO TO NET SALES
18.63%
17.81%
20.27%
2.46%*
OPERATING EXPENSE:
SALARIES & WAGES
12,509.15
24,644.21
229739.91
1,904.30
ALL OTHER EXPENSE
6,474.21
11,131.34
9,402.27
1,729.07
TOTAL OPERATING EXPENSE
18,983.36
35,775.55
32,142.18
3,633.37
RATIO TO NET SALES
10.66%
10.71%
10.65%
0.06%
PROFIT FROM OPERATIONS
14096.12
23,711.75
29,040.37
5,328.62*
OTHER INCOME — NET
2.287.13
3,645.01
2.701.94
948.07
NET INCOME
16,483.25
27,356.76
31,742.31
4,385.55*
RATIO TO NET SALES
9.25%
8.19%
10.51%
2.32%*
ST. ANTHONY MUNICIPAL LIQUOR STORES
SUMMARY OF ON AND OFF SALES
STORE TWO
YEAR TO JUNE 30, 1969
OPERATING EXPENSE:
SALARIES & WAGES
2ND QTR.
YEAR TO
YEAR TO
INCREASE
ON SALE
1969
DATE 1969
DATE 1968
DECREASE*
NET SALES
39,792.28
81,949.42
769936.79
5,012.63
COST OF G000s SOLD
14,465.80
27,828.65
24,845.26
2,983.39
GROSS PROFIT ON SALES
25,326.48
549120.77
52,091.53
2,029.24
RATIO TO NET SALES
63.65%
66.04%
67.71%
1.67%*
OPERATING EXPENSE:
SALARIES & WAGES
13,462.80
27,026.37
26,358.15
668.22
ALL OTHER EXPENSE
5,889.76
11,309•$0
11,199.70
110.10
TOTAL OPERATING EXPENSE
19,352.56
35,336.17
37,557.85
77$.32
RATIO To NET SALES
48.63%
46.70
48.82%
2.04%*
PROFITS FROM OPERATIONS
5,973.92
15,784.60
14,533.68
1,250.92
OTHER INCOME - NET
6.SE
1,526.08
1,594.24
6$.16
NET INCOME
,750.48
17,310.68
16,127.92
1,182.76
RATIO TO NET SALES
16.96
21.12%
20.96%
0.16%
OFF SALE
NET SALES
130,792.40
251,097.56
2242293.87
26,803.69
COST OF GOODS SOLD
9?:j, 0
1 2 41
167,893.94
24,523.81
GROSS PROFIT FROM SALES
31�, $$.�OO
5$, 79.$1
56,399.93
2,279.$$
RATIO TO NET SALES
24.23
23.37%
25-15%
OPERATING EXPENSES
SALARIES & WAGES
10,148.86
19,566.42
16,856.68
2,709.74
ALL OTHER EXPENSE
TOTAL OPERATING
6-14.61-99
12,259.23
11,443.36
815.87
EXPENSE
16, 12.85
31,825.65
28,300.04
3025.61
RATIO TO NET SALES
12.70
12.67%
12.62%
0.05
PROFITS FROM OPERATIONS
15,075.15
26,854.16
28,099.89
1,245.73*
OTHER INCOME - NET
��1,43���00�.3�7
2,2$1.32
1,9$5.30
296.02
NET INCOME
16,5052
29,135.48
30,085.19
949.71*
RATIO To NET SALES
12.62%
11.60
13.41%
1.81%*
ST. ANTHONY MUNICIPAL LIQUOR STORE
OPERATING EXPENSE (SCHEDULE 1)
YEAR TO JUNE 30, 1969
COMBINED
OPERATING EXPENSE TOTAL 66.091.79 172,004.16 153,919.79 16.084.39
2LD:QTR•
YEAR TO
YEAR TO
INCREASE
1969
DATE 1969
DATE 196A
DECREASE*
BAR WAGES
31,279.97
62,631.87
54,803.67
7,828.20
OFF SALE WAGES
15,628.86
30,369.08
27018.60
3,050.48
CUSTODIANS WAGES
20944.79
5,824.79
5,557.53
267.26
MANAGERS SALARY
8,560.74
16,726.33
14,340.37
2,385.96
BOOKKEEPER'S SALARY
2052.78
5,132.01
41658.09
473.92
MEDICAL - LIFE INSURANCE
567.21
1,996.07
1,920.36
75.69
PENSION CONTR2AM ION
4,445.17
8,662.56
_ 7,153.50
1,509.06
PAYROLL EXPENSE
65,999.52
131,342.71
115,752.14
15,590.57
LAUNDRY
1,073.36.
1,989.94
19756.95
232.99
BAR SUPPLIES
1,714.67
3,799.90
3,760.16
39.74
OFF SALE SUPPLIES
1,o81.01
1,699.72
1,303.21
396.51
CLEANING SUPPLIES
384.93
656.43
311.32
345.11
OFFICE EXPENSE
642.24
984.69
366.69
618.00
TRAVEL EXPENSE
205.76
371.94
324.30
47.64
SUPPLIES - EXPENSE
5,102.77
9,502.62
7,622.63
1,679.99
RENT
3,997.38
7,994.76
8,381.56
386.80*
HEAT - FUEL
771.21
968.35
1,015.24
26.89*
UTILITIES
1,697.00
2,704.95
2,860.00
155.05*
TELEPHONE
258.62
443.50
403.95
39.55
SANITATION
327.50
643.50
495.00
148.50
CASUALTY - LIABILITY INS.
2,801.65
5,268.56
4,353.79
914.77
REPAIR - MAINTENANCE
1,300.33
2,949.38
1,555.82
1,393.56
DEPRECIATION
3,676.74
7,744.22
7,651.71
107.49*
OCCUPANCY EXPENSE
15,032.43
28.737.22
26.917.07
1,820.15
SECURITY SERVICES
351.65
629.25
660.77
31.52*
ADVERTISING - SIGNS
193.70
275.20
522.90
247.70*
ACCTG. - LEGAL - LICENSES
1,346.32
1,386.38
2,113.48
727.10*
MUSIC SERVICE
65.40
130.80
130.80
-0-
SERVICES
1,957.07
2,421.63
3,427.95
1.006.32*
OPERATING EXPENSE TOTAL 66.091.79 172,004.16 153,919.79 16.084.39
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NOTES ON QUARTERLY REPORT
SECOND QUARTER ENDED JUNE 309 1969
BALANCE SHEET
CASH DECREASE APPROXIMATELY $701000.00 DUE TO INCREASE IN INVENTORY
(+$147,000.00), CHANGE FUND (+$5,000.00), PREPAID EXPENSES (+7,500.00)9
DECREASE IN ACCOUNTS RECEIVABLE (-$10,000.00), INCREASE IN ACCOUNTS
PAYABLE (-$719000.00) AND INCREASES IN ACCRUED ACCOUNTS (-$6,000.00).
NET WORTH NO CHANGE DUE TO NEARLY EQUAL AMOUNTS IN INCOME AND TRANSFERS
TO GENERAL FUND.
INCOME STATEMENT
SALES INCREASE $35,016. ABOVE 2ND QUARTER 1968 AND AN ACCUMULATED IN-
CREASE FOR FIRST SIX MONTHS OF $62,251. COST OF GOODS SOLD INCREASE
3.00 INCLUDING 1.28q RISE IN PROMOTIONAL DISCOUNTS. OPERATING EXPENSE
UP $180084. $12,336 -FIRST QUARTER, $5,748. -SECOND QUARTER.) NET IN-
COME FOR FIRST SIX MONTHS $121,492. - OFF $19,344• FROM SIX MONTHS 1968.
(MINUS $17,351. IN FIRST QUARTER, $1,993. IN SECOND QUARTER).
STORE ONE
SALES FOR FIRST SIX MONTHS UP $30,435. (6.460. COST OF GOODS SOLD UP
3.08Ja OPERATING EXPENSE UP $13,780. (4.61%). NET INCOME DOWN $19,577.
STORE TWO
SALES FOR FIRST SIX MONTHS UP $31,816. (10.560. COST OF GOODS SOLO UP
2.15%. OPERATING EXPENSE UP $4,309. (-.8%). NET INCOME UP $233.
COMMENTS
THE SECOND QUARTER RESULTS INDICATE THAT THE SQUEEZE ON PROFITS FROM
HIGHER COSTS FOR MERCHANDISE AND FOR WAGES AND OTHER OPERATING EXPENSES
HAS BEEN STOPPED. DURING THE FIRST QUARTER NET INCOME WAS OFF
$17051.23. THE SECOND QUARTER OFF $1,993.05 COMPARED TO SAME PERIODS
DURING 1968. THE PROSPECTS FOR WIPING OUT THE ACCUMULATED "DEFICIT"
APPEAR ENCOURAGING FOR THE FOLLOWING REASONS:
FIRST - PRICES IN BOTH BAR AND OFF SALE HAVE BEEN RESTRUCTURED AND
A SIGNIFICANT PROFIT STANDS TO BE MADE ON INVENTORY BOUGHT BEFORE THE
TAX INCREASE.
SECOND - OPERATING EXPENSES GENERALLY REMAIN STABLE AFTER BEING
ESTABLISHED EARLY IN THE YEAR - 54% OF SALES THEN OCCUR IN LAST HALF
OF YEAR TO PRODUCE BETTER OPERATING PERCENTAGES. ALSO, SALES FOR JULY
AND AUGUST HAVE BEEN ACCELERATING AFTER ONLY A FAIR MONTH OF JUNE.
ST. ANTHONY VILLAGE MUNICIPAL LIQUOR STORES
FINANCIAL REPORT - FIRST QUARTER 1969
ST. ANTHONY MUNICIPAL L!QUOR STORE
BALANCE S!'EE
MARCH 31, 1969
ASSETS
CASH IN BANK & TRANSIT
$
82,984.55
CHANGE AND PETTY CASH FUNDS
5$,110.00
MISCELLANEOUS RECEIVABLES
10,710.65
MERCHANDISE INVENTORIES
203,462.68
INVESTMENTS
97,233.00
PREPAID EXPENSES
1,644.60
TOTAL CURRENT ASSETS
$
454,145.48
LAND, BUILDINGS & IMPROVEMENTS
$
260,837.01
ALLOWANCE FOR DEPRECIATION
(66,938.18)
FURNITURE, FIXTURES & EQUIPMENT
134,144.30
ALLOWANCE FOR DEPRECIATION(79,851.02)
TOTAL FIXED ASSETS
$
248,192.11
TOTAL ASSETS
$ 702,337.50
LIABILITIES
TRADE ACCOUNTS PAYABLE $ 39,82$.59
ACCRUED SALARIES 5,554.51
ACCRUED PAYROLL DEDUCTIONS 1,299.16
MINNESOTA SALES TAX FUND 4,412.26
EMPLOYER SHARE PAYABLES -0-
TOTAL CURRENT LIABILITIES $ 51,094.52
NET WORTH 651,243.07
TOTAL LIABILITIES AND NET WORTH $ 702,337.59
NET WORTH SUMMARY
BALANCE, JANUARY 1, 1969 $ 661,83$.$6
NET INCOME - FIRST QUARTER 1969 55,654.21
LESS TRANSFERS TO GENERAL FUND
DURING QUARTER -66,250.00
BALANCE, MARCH 31, 1969 $ 651,243.07
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ST. ANTHONY MUNICIPAL LIQUOR STORES
SUMMARY
OF OPERATIONS
YEAR TO
MARCH 31, 1969
YEAR TO
YEAR TO
INCREASE
STORE ONE
3-31-69
°o
3-31-68
DECREASE'
NET SALES
100.00
235,501.64
100.00
222,617.34
12,884,30
COST OF GOODS SOLD BE-
FORE PROMOTIONAL Disc. 69.13
162,801.09
66.07
147,080,64
15,720.45
GROSS PROFIT BEFORE
OISCOUNT
30.87
72,700.55
33.93
75,536.70
2,836.15*
PROMOTIONAL DISCOUNT
3.02
7,118.17
4.40
9,797.38
2,679.21
GROSS PROFIT AFTER
DISCOUNT
33.89
79,818.72
38.33
85,334.08
5,515.36*
OPERATING EXPENSE
SCHEDULE 1)
21.11
49,715.98
18.12
40,331.11
9,384.87
PROFIT FROM OPERATIONS
12.78
30,102.74
20.21
45,002.97
14,900.23.x.
NET NON OPERATING INCOME
1.00
2,361.41
1.01
2,241.45
119.96
NET INCOME
13.78
32,464.15
21.22
47,244.42
14,780.27*
STORE TWO
NET SALES
100.00
162,462.30
100.00
148,111.62
14,350.68
COST OF GOODS SOLD BE-
FORE PROMOTIONAL Disc.
68.82
111,805.99
67.21
99,554.48
12,251.51
GROSS PROFIT BEFORE
DISCOUNT
31.18
50,656.31
32.79
48057.14
20099.17
PROMOTIONAL DISCOUNT
3.16
5,129.79
4.50
6,667.63
1,537.84*
GROSS PROFIT AFTER
DISCOUNT
34.34
55,786.10
37.29
55,224.77
561.33
OPERATING EXPENSE
SCHEDULE 1)
21.05
34,196.41
21.10
31,245.32
2,951.09
PROFIT FROM OPERATIONS
13.29
21,589.69
16.19
23,979.45
2,389.76*
NET NON OPERATING INCOME
.98
1,600.37
1.20
1,781.57
181.20*
NET INCOME
14.27
23,190.06
17.39
25,761.02
2,570.96*
ST. ANTHONY MUNICIPAL LIQUOR STORE
SUMMARY OF ON AND OFF SALES
YEAR TO MARCH 31, 1969
COMBINED
OPERATING EXPENSE:
SALARIES & WAGES
YEAR TO
YEAR TO
INCREASE
ON SALE
DATE 1969
DATE 1968
DECREASE*
NET SALES
121,820.79
122,120.78
299.99*
COST OF G000s SOLO
391515.60
39,027.48
488,12
GROSS PROFIT FROM SALES
82,305.19
83,093.30
788,11*
RATIO TO NET SALES
67.56%
68,04
-oar*
OPERATING EXPENSE:
SALARIES & WAGES
38,164.32
30,930.53
7,233.79
ALL OTHER EXPENSE
13,743-08
12,533.45
1,209.63
TOTAL OPERATING EXPENSE
51,907.40
43,463.98
8,443.42
RATIO To NET SALES
42.53/
35.591
6.941
PROFIT FROM OPERATIONS
30,397.79
39,629.32
9,231.53*
OTHER INCOME - NET
1,753-05
1,602.07
150.98
NET INCOME
32,150.84
41,231.39
9,080.55*
RATIO TO NET SALES
26.39%
33,76%
7.37%*
OFF SALE
NET SALES
COST OF GOODS SOLO
276,143.15
222,843.52
248,608.18
191,142.63
27,534.97
31,700-69
GROSS PROFIT FROM SALES
53,299.63
57,465.55
4,165.92*
RATIO TO NET SALES
19.30%
23,11%
3.81%X,
OPERATING EXPENSE:
SALARIES & WAGES
ALL OTHER EXPENSE
21,552.62
18,293.07
3,259.55
10,452.37
9,819.38
632.29
TOTAL OPERATING EXPENSE
32,004.9999
28,112.45
3,892.54
RATIO TO NET SALES
11,59%
11.31%
28%
PROFIT FROM OPERATIONS
OTHER INCOME NET
21,294.64
29,353.1/0
8,058.46*
-
2,208.7
2,420.95
212.22*
NET INCOME
23,503.37
31,774.05
8,270.68*
RATIO TO NET SALES
8,51%
12.7807
4.27%*
u
ST. ANTHONY MUNICIPAL LIQUOR STORE
SUMMARY OF ON AND OFF SALES
STORE ONE
YEAR TO MARCH 31, 1969
YEAR TO
YEAR TO
INCREASE
ON SALE
DATE 1969
DATE 1968
DECREASE*
NET SALES
79,663.65
81,997.11
2,333.46*
COST of G000s SOLD
26.152.75
25.633.92
518.83
GROSS PROFIT ON SALES
53,510.go
56,363.19
21852.29*
RATIO TO NET SALES
67.17%
68.74%
1.57%,*
OPERATING EXPENSE:
SALARIES & WAGES
24,600.75
18,156.63
6,444.12
ALL OTHER EXPENSE
8,323.047.303,86
1.019.18
TOTAL OPERATING EXPENSE
32,923.79
25,460.49
_
7,463.30
RATIO To NET SALES
41,320
31,055°%0
10.27%%.
PROFITS FROM OPERATIONS
20,587.11
30,902.70
10,315.59*
OTHER INCOME — NET
1,003. 3
859.38
144.15
NET INCOME
21,590.64
31,762.088
10,171.44*
RATIO TO NET SALES
27.10%
38.74%
11.64°%.*
OFF SALE
NET SALES
155,837.99
140,620.23
15,217.76
COST OF G000s SOLO
129.530.17
111,649.34
17,880.83
GROSS PROFIT FROM SALES
26,307.$2
28,970.89
2,663.07*
RATIO TO NET SALES
16,88
20.68
"��
L/o
3,7�*
OPERATING EXPENSE:
SALARIES & WAGES
12,135.06
10,493.19
1,641.87
ALL OTHER EXPENSE
46%.ilj
4.377.43
279.70
TOTAL OPERATING EXPENSE
1 ,7-92.1�9/
14,870.62
1,921.57
RATIO TO NET SALES
10.78°%.
10.58%1
20%
PROFIT FROM OPERATIONS
9,515.63
14,100.27
4,584.64*
OTHER INCOME — NET
1,3 57.8
1.3$.30
24.819**
NET INCOME
7
5 451 1
,608.3
RATIO TO NET SALES
6.97%
11.01%
4.04%*
I
ST. ANTHONY MUNICIPAL LIQUOR STORE
SUMMARY OF ON AND OFF SALES
STORE TWO
YEAR TO MARCH 31, 1969
YEAR TO
YEAR TO
INCREASE
ON SALE
DATE 1969
DATE 1968
DECREASE*
NET SALES
42,157.14
40,123.67 %
2,033.47
COST OF GOODS SOLD
13,362`8513.393.56
30.71*
GROSS PROFIT ON SALES
28,794.29
26,730.11
2,064.18
RATIO TO NET SALES
68.30/
66.62/
1.64
OPERATING EXPENSE:
SALARIES & WAGES
13,563.57
12,773.90
789.67
ALL OTHER EXPENSE
5.420.04
5,229.19190.45
TOTAL OPERATING EXPENSE
18,983.61
18,003.49
980.12
RATIO To NET SALES
45.03%
44.87/
.16%
PROFITS FROM OPERATIONS
9,810.68
8,726.62
1,084.06
OTHER INCOME — NET
749.52
742.69
6.83
NET INCOME
10,560.20
9,469.31
1,090.89
RATIO TO NET SALES
25.04
23.60%
1.44/0
OFF SALE
NET SALES
120005.16
107,987.95
12,317.21
COST OF GOODS SOLD
93.313.3
79.493.29
13,820.06
GROSS PROFIT FROM SALES
26,991.8�1/
28,494.66
1,502.85*
RATIO To NET SALES
22.44/°
26.39%
3.95%-*
OPERATING EXPENSES
SALARIES & WAGES
9,417.56
7,799.88
1,617.68
ALL OTHER EXPENSE
5.795.24
5,441.95
353.29
TOTAL OPERATING EXPENSE
15,212.$0
13,241.83
1,970.97
RATIO TO NET SALES
12.65%
12.26%
.39%
PROFITS FROM OPERATIONS
11,779.01
15,252.83
3,473.82*
OTHER INCOME - NET
850.85
1,038.88
188.03*
NET INCOME
12,629.86
16,291.71
3,661.85*
RATIO TO NET SALES
10.50/
15-05%4.5"x*
ST. ANTHONY MUNICIPAL LIQUOR STORE
OPERATING EXPENSE SCHEDULE 1)
YEAR TO MARCH 31, 1969
COMBINED
YEAR TO
YEAR TO
INCREASE
RUL1962
DATE 1968
DECREASE*
BAR WAGES
31351.90
24,832.84
6,519.06
OFF SALE WAGES
14x740.22
12,195.39
2.544.83
CUSTODIANS WAGES
2,880.00
2,884.52
4.52*
MANAGERS SALARY
8,165.59
7,012.46
1,153.13
BOOKKEEPERS SALARY
2,579.23
2,298.39
280.84
MEDICAL - LIFE INSURANCE
1,408.86
1,123.77
283.09
PENSION CONTRIBUTION
4,217.39
.O
772.30
PAYROLL EXPENSE
65,343.19
53,792.46
11,550.73
LAUNDRY
916.58
881,51
35.07
BAR SUPPLIES
2,085.23
1,999.81
85.42
OFF SALE SUPPLIES
617.91
662.23
44.32*
CLEANING SUPPLIES
271.50
159.14
112.36
OFFICE EXPENSE
342.45
48.80
293.65
TRAVEL EXPENSE
166.18
107.85
58.33
SUPPLIES - EXPENSE
4,399.853,859.34
540.51
RENT
HEAT - FUEL
3,997.38
3x997.38
-0-
UTILITIES
217.14
1,007.95
495.37
1,093.22
93.22
278.23*
TELEPHONE
184.88
201.11
85'27*
16.23*
SANITATION
316.00
241.00
75,00
CASUALTY - LIABILITY INS.
2,466.91
2,224.49
242.42
REPAIRS - MAINTENANCE
1,649.05
706.97
942.08
DEPRECIATION
865-48
3,872.16
6.68*
OCCUPANCY EXPENSE
13,704.79
12,831.70
873.09
SECURITY SERVICES
277.60
114.37
163.23
ADVERTISING - SIGNS
ACCTG• - LEGAL - LICENSES
81.50
40.06
156.00
74,50*
MUSIC SERVICE
65.40
757.16
65.40
717.10*
-0-
SERVICES
464.56
1,092.93
�2R8. *
OPERATING EXPENSE TOTAL
83,912.39
71,576.43
12,335.96
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NOTES ON QUARTERLY REPORT
FIRST QUARTER ENDED MARCH 31, 1969
BALANCE SHEET
NET CASH INCREASE OF $8,662.17 DUE TO REDUCTION IN INVENTORY
$39,863.24 OFFSET BY ACCOUNTS PAYABLE DECREASE OF $23,991.35
AND OTHER PAYABLES BY $5,060.57. INVESTMENT CONTINUES TO CON-
SIST OF $979233.00 IN A TREASURY BILL WITH 5.47% YIELD DUE
5-1-69. NET WORTH DECREASED $10,595.79 DUE TO TRANSFER TO
GENERAL FUND OF $66,250.00 AND NET INCOME OF $55,654.21.
INCOME STATEMENT
SALES INCREASE $27,234.98 (7.3%) ABOVE FIRST QUARTER PREVIOUS
YEAR. COST OF SALES UP 2.480. PROMOTIONAL DISCOUNTS DOWN
$4,217.05 (1.36%) AND OPERATION EXPENSE UP $12,335.96. NET
INCOME DECREASED $17,351.23 OR 5.71% OF SALES. (SEE COMMENTS)
STORE ONE
SALES FOR FIRST THREE MONTHS UP $120884.30 (5.7�{�). COST OF
SALES UP 4.44%. OPERATING EXPENSE UP $9,384.87 (UP 2.99% OF
SALES). NET INCOME DOWN $14,780.27.
STORE TWO
SALES UP $14,350.68 (9.69%). COST OF SALES UP 2.95%. OPERATING
EXPENSES UP $2,951.09 (DOWN .05% OF SALES. NET INCOME DOWN
$2,570.96.
COMMENTS
COMPARISONS ABOVE ARE MADE WITH SAME PERIOD IN 1968. AS IN-
DICATED BY THE REPORT FOR THAT PERIOD, SEVERAL FACTORS TENDED
TO OVERSTATE INCOME. ONE WAS ADVANCE PURCHASING TO AVOID
SHORTAGES DURING ANTICIPATED GLASS STRIKE. SECONDLY, LABOR
NEGOTIATIONS WERE NOT COMPLETED TO REFLECT INCREASED COST OF
LABOR FOR 1968 RATE. THUS THIS REPORT MUST BE VIEWED WITH THE
UNDERSTANDING THAT A NEARLY $10,000 DOWNWARD ADJUSTMENT IN 1ST
QUARTER 1968 INCOME MUST BE CONSIDERED REASONABLE TO MAKE A
VALID COMPARISON. ANOTHER FACTOR MUST BE THE STOCK REDUCTION
WHICH TOOK PLACE IN 1ST QUARTER 1969. OPENING AMOUNT WAS
$243,326. - CLOSING $203,463. - A DECREASE OF $40,000 OR NEARLY
16.5%, TENDS TO INHIBIT PROFIT ON PURCHASING BY CONCENTRATING
PURCHASES TO STOCK REPLACEMENT ONLY. THIS IS A DIFFERENCE IN
PAPER PROFIT ONLY OF COURSE, BUT DOES AFFECT PERCENTAGES. A
CLOSER STUDY OF THE FIRST SIX MONTHS 1969 WILL BE MORE MEANING-
FUL FOR ACCURATE STUDY OF LONG TERM TRENDS.