HomeMy WebLinkAbout1971 CAFR LQA
ST. ANTHONY VILLAGE MUNICIPAL LIQUOR STORES
FINANCIAL REPORT - FOURTH QUARTER 1971
ST. ANTHONY MUNICIPAL LIQUOR
STORES
BALANCE SHEET
DECEMBER 31, 1971
ASSETS
CASH IN BANK & TRANSIT
83,752.09
CHANGE AND IMPREST PETTY CASH
56,110.00
MISCELLANEOUS RECEIVABLES
737.13
MERCHANDISE INVENTORIES
238,342.32
INVESTMENTS - CERTIFICATES OF DEPOSIT
100,000.00
PREPAID EXPENSES
7,126.51
DUE FROM OTHER FUNDS
1,471.50
TOTAL CURRENT ASSETS
$
487,539.55
LAND, BUILDING & IMPROVEMENTS
$
264,100.64
ALLOWANCE FOR DEPRECIATION
(879111.17)
FURNITURE, FIXTURES & EQUIPMENT
137,650.39
ALLOWANCE FOR DEPRECIATION
(98,065.02)
TOTAL FIXED ASSETS
$
216,574.84
TOTAL ASSETS
1 704.114.39
LIABILITIES
TRADE ACCOUNTS PAYABLE $ 76,955.45
ACCRUED SALARIES 5,487.30
ACCRUED PAYROLL DEDUCTIONS 261.70
TOTAL CURRENT LIABILITIES $ 82,703.75
NET WORTH 621,410.64
TOTAL LIABILITIES AND NET WORTH 1 704.114.39
NET WORTH SUMMARY
BALANCE, JANUARY 10 1971 1 6509767.62
NET INCOME, FIRST QUARTER '71 $ 68,504.95
SECOND QUARTER 171 66,078.54
THIRD QUARTER '71 65019.27
FOURTH QUARTER t71 70,940.26 270,643.02
LESS TRANSFERS TO GENERAL FUND - 03 0,000..1
BALANCE DECEMBER 31, 1971 $ 621,410.64
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ST. ANTHONY MUNICIPAL LIQUOR STORES
SUMMARY OF OPERATIONS
YEAR TO DECEMBER 31, 1971
COST OF GOODS SOLO BE-
FORE PROMOTIONAL DISC. 70.03
GROSS PROFIT BEFORE
DISCOUNT 29.97
PROMOTIONAL DISCOUNTS 4.95
GROSS PROFIT AFTER
DISCOUNT 34.92
OPERATING EXPENSE
SCHEDULE 1% 21.84
PROFIT FROM OPERATIONS 13.08
NET NON-OPERATING INCOME 1.46
NET INCOME 14.54
STORE TWO
NET SALES 100.00
COST OF GOROS SOLD BE-
FORE PROMOTIONAL DISC. 72.42
GROSS PROFIT BEFORE
DISCOUNT 27.58
PROMOTIONAL DISCOUNTS 5.63
GROSS PROFIT AFTER
DISCOUNT 33.21
OPERATING EXPENSE
(SCHEDULE 1) 20.73
PROFIT FROM OPERATIONS 12.48
NET NON-OPERATING INCOME 1.12
NET INCOME 13.60
716,986.63 69.52 751,736.02 34,749.39*
3o6,e1o.12 30.48 329,549.71 22,739.59*
50,724.64 3.76 40,639.07 10,085-57
357,534.76 34.24 370,188.78 12,654.02*
223,550.73
YEAR TO
218,119.41
YEAR TO
INCREASE
STORE ONE %
DATE 1971
%
DATE 1970
DECREASE*
NET SALES 100.00
1,023,796.75
100.00
1,081,285.73
57,488.98*
COST OF GOODS SOLO BE-
FORE PROMOTIONAL DISC. 70.03
GROSS PROFIT BEFORE
DISCOUNT 29.97
PROMOTIONAL DISCOUNTS 4.95
GROSS PROFIT AFTER
DISCOUNT 34.92
OPERATING EXPENSE
SCHEDULE 1% 21.84
PROFIT FROM OPERATIONS 13.08
NET NON-OPERATING INCOME 1.46
NET INCOME 14.54
STORE TWO
NET SALES 100.00
COST OF GOROS SOLD BE-
FORE PROMOTIONAL DISC. 72.42
GROSS PROFIT BEFORE
DISCOUNT 27.58
PROMOTIONAL DISCOUNTS 5.63
GROSS PROFIT AFTER
DISCOUNT 33.21
OPERATING EXPENSE
(SCHEDULE 1) 20.73
PROFIT FROM OPERATIONS 12.48
NET NON-OPERATING INCOME 1.12
NET INCOME 13.60
716,986.63 69.52 751,736.02 34,749.39*
3o6,e1o.12 30.48 329,549.71 22,739.59*
50,724.64 3.76 40,639.07 10,085-57
357,534.76 34.24 370,188.78 12,654.02*
223,550.73
20.17
218,119.41
5,431.32
133,984.03
14.07
152,069.37
18,085.34*
14,944.92
1,28
13,880.14
1 0, 64.78
148,928.95
15.35
165,949.51
17,020.56*
895,787.19
100.00
834,777.93
61,009.26
648,738.16
70.22
586,197.67
62,540.49
247,049.03
29.78
248,580.26
1,531.23*
50 404.65
4.30
35,933.06
14,471.59
297,453.68
34.08
264,513.32
12,940.36
185,735.36
21.03
175,532.88
10,202-48
111,718.32
13.05
108,980.44
2,737.86
9,995.75
1.04
8,704.52
1,291.23
121,714.07
14.09
117,684.96
4,029.11
ST. ANTHONY MUNICIPAL LIQUOR STORES
SUMMARY OF ON AND OFF SALES
YEAR TO DECEMBER 31, 1971
COMBINED
OPERATING EXPENSE:
SALARIES AND WAGES
4TH QTR.
YEAR TO
YEAR To
INCREASE
ON SALE
1971
DATE 1971
DATE 1970
DECREASE*
NET SALES
131,858.89
479,199.14
508,655.74
29,456.60*
COST OF GOODS SOLD
43,975.12
156,105.53
157.539.52
1,433.99*
GROSS PROFIT FROM SALES
87,883.77
323,093.61
351,116.22
28,022.61*
RATIO To NET SALES
66.65%
67.42%
69.03%
1.61%*
OPERATING EXPENSE:
SALARIES AND WAGES
49,431.77
173,058.93
172,048.88
1,010.05
ALL OTHER EXPENSE
15,052.00
53,390.68
49,692.82
3,697.86
TOTAL OPERATING EXPENSE
64,483.77
226,449.61
221,741.70
4,707.91
RATIO To NET SALES
48.90%
47.26%
43.59%
3.67%
PROFIT FROM OPERATIONS
23,400.00
96,644.00
129,374.52
32,730.52*
OTHER INCOME - NET
1,953.29
7,826.61
7,729.17
97.44
NET INCOME
25,353.29
104,470.61
137,103.69
32,633.08*
RATIO TO NET SALES
19.23%
21.80%
26.95%
5.15%x'
OFF SALE
NET SALES
430,782.69
1,440,384.80
19407,407.92
32,976.88
COST OF GOODS SOLD
336,638.88
1,108,489.97
1,103,822.04
4,667.93
GROSS PROFIT FROM SALES
94,144.01
331,894.83
303,585.88
28,308.95
RATIO TO NET SALES
21.B5%
23.04%
21.57%
1.47%
OPERATING EXPENSE:
SALARIES AND WAGES
40,276.60
134,151.17
124,745.74
9,405.43
ALL OTHER EXPENSE
13,250.55
48,685.31
47,164.85
1,520.46
TOTAL OPERATING EXPENSE
53,527.15
182,836.48
171,910.59
10,925.89
RATIO TO NET SALES
12.43%
12.69%
12.21%
0.48%
PROFIT FROM OPERATIONS
40,616.86
149,058.35
131.675.29
17,383.06
OTHER INCOME - NET
4,970.11
17,114.06
14,855.49
2,258.57
NET INCOME
45,586.97
166,172.41
146,530.78
19,641.63
RATIO -TO NET SALES
10.58%
11.54%
10.41%
1.13%
ST. ANTHONY MUNICIPAL LIQUOR STORES
SUMMARY OF ON AND OFF SALES
YEAR TO DECEMBER 31, 1971
STORE ONE
4TH QTR.
YEAR TO
YEAR TO
INCREASE
ON SALE
1971
DATE 1971
DATE 1970
DECREASE*
NET SALES
75,082.13
285,124.23
320,056.32
34,932.09*
COST OF G000s SOLD
25,118.03
92,814.14
97,950.13
5,135.99*
GROSS PROFIT FROM SALES
49,964.10
192,310.09
222,106.19
29,796.10*
RATIO To NET SALES
66.55%
67.45%
69.40%
1.95%*
OPERATING EXPENSE:
SALARIES AND WAGES
29,944.23
102,514.27
103,994.62
1,480.35*
ALL OTHER EXPENSE
8,704.20
30,617.81
28,178.59
2,439.22
TOTAL OPERATING EXPENSE
38,648.43
133,132.08
132,173.21
958.87
RATIO To NET SALES
51.47%
46.69%
41.30%
5.39%
PROFIT FROM OPERATIONS
11,315.67
59,178.01
89,932.98
30,754.97*
OTHER INCOME — NET
1,022.25
4,032.93
4,242.52
209.59*
NET INCOME
12,337.92
63,210.94
94,175.50
30,964.56*
RATIO To NET SALES
16.43%
22.17%
29.42%
7.25%*
OFF SALE
NET SALES
210,728.26
738,672.52
761,229.41
22,556.89*
COST OF GOODS SOLD
171,028.75
573,447.85
613,146.82
39,698.97*
GROSS PROFIT FROM SALES
39,699.51
165,224.67
148,082.59
17,142.08
RATIO To NET SALES
18.83%
22.37%
19.45%
2.92%
OPERATING EXPENSES
SALARIES AND WAGES
22,053.05
69,896.01
65,349.93
4,546.08
ALL OTHER EXPENSE
5,761.11
20,522.64
20,596.27
73.63*
TOTAL OPERATING EXPENSE
27,814.16
90,418.65
85,946.20
4,472.45
RATIO TO NET SALES
13.20%
12.24%
11.29%
0.95%
PROFIT FROM OPERATIONS
11,885.35
74,806.02
62,136.39
12,669.63
OTHER INCOME - NET
3,077.83
10,911.99
9,637.62
1,274,37
NET INCOME
14,963.18
83,718.01
71,774.01
13,944.00
RATIO TO NET SALES
7.10%
11.60%
9.43%
2.17%
r
ST. ANTHONY MUNICIPAL LIQUOR STORES
SUMMARY OF ON AND OFF SALES
YEAR TC DECEMBER 31, 1971
STORE TWO
OPERATING EXPENSE:
SALARIES AND WAGES
4TH QTR.
YEAR TO
YEAR TO
INCREASE
ON SALE
1971
DATE 1971
DATE 1970
DECREASE*
NET SALES
56,776.76
194,074.91
188,599.42
5,475.49
COST OF coons SOLD
18,857.09
63,291.39
59,589-39
3,702.00
GROSS PROFIT FROM SALES
37,919.67
130,783.52
129,010.03
1,773.49
RATIO TO NET SALES
66.79%
67.39%
68.40-
1.01p
OPERATING EXPENSE:
SALARIES AND WAGES
19,487.54
70,544.66
68,054.26
2,490.40
ALL OTHER EXPENSE
6,347.80
22,772.87
21,514.23
1,258.64
TOTAL OPERATING EXPENSE
25,835.34
93,317.53
89,568.49
3,749.04
RATIO To NET SALES
45.50%
48.08%
47.49%
•.59%
PROFIT FROM OPERATIONS
12,084.33
37,465.99
39,441.54
1,975.55*
OTHER INCOME — NET
931.04
3,793.68
3,486.65
307.03
NET INCOME
13,015.37
41,259.67
42,928.19
1,668.52*
RATIO To NET SALES
22.92%
21.26%
22.76%
1.50%*
OFF SALE
NET SALES
220,054.63
701,712.28
646,178.51
55,533.77
COST OF GOODS SOLD
165,610.E
535,042.12
490,675.22
44,366.90
GROSS PROFIT FROM SALES
54,444.50
166,670.16
155,503.29
11,166.87
RATIO To NET SALES
24.74%
23.75%
24.07%
0.32%*
OPERATING EXPENSE:
SALARIES AND WAGES
18,223.55
64,255.16
59,395.81
4,859.35
ALL OTHER EXPENSE
7,489.44
28,162.67
26,568.58
1,594.09
TOTAL OPERATING EXPENSE
25,712.99
92,417.83
85,964.39
6,453.44
RATIO TO NET SALES
11.65%
13.17%
13.30%
0.13%*
PROFIT FROM OPERATIONS
28,731.51
74,252.33
69,538.90
4,713.43
OTHER INCOME — NET
1,592.25
6,202.07
5,217.87
984.20
NET INCOME
30,623.79
80,454.40
74,756.77
5,697.63
RATIO TO NET SALES
13.92%
11.47%
11.57%
0.10%*
ST. ANTHONY MUNICIPAL LIQUOR STORES
OPERATING EXPENSE (SCHEDULE 1)
YEAR TO DECEMBER 31, 1971
COMBINED
4TH QTR.
YEAR TO
YEAR TO
INCREASE
1971
DATE 1971
DATE 1970
DECREASE*
BAR WAGES
37,269.25
124,862.50
125,876.76
1,014.26*
OFF SALE WAGES
29,250.94
90,806.53
82,897.76
7,908.77
CUSTODIANS WAGES
3,009.85
13,145.06
13,520.19
375.13*
MANAGERS SALARIES
9,520.67
34,946.38
35,549.18
602.80*
BOOKKEEPERS SALARIES
3,527.39
12,948.87
11,750.09
1,198.78
MEDICAL - LIFE INSURANCE
1,014.46
6,491.16
4,928.15
1,563.01
PENSION CONTRIBUTION
6,115.81
24,009.60
22,272.49
1,737.11
PAYROLL EXPENSE
89,708.37
307,210.10
296,794.62
10,415.48
LAUNDRY
1,098.80
4,422.55
4,137.09
285.46
BAR SUPPLIES
2,076.88
6,154.94
6,033.87
121.07
OFF SALE SUPPLIES
1,558.88
5,676.41
5,791.94
115.53*
CLEANING SUPPLIES
415.45
1,755.31
1,047.48
707.83
OFFICE EXPENSE
548.18
1,242.98
858.54
384.44
TRAVEL
97.75
654.85
801.52
146.67*
SUPPLIES - EXPENSE
5,795.94
19,907.04
18,670.44
1,236.60
RENT
3,997.38
16,797.84
16,549.17
248.67
HEAT - FUEL
505.27
1,916.73
1,626.41
290.32
UTILITIES
2,127.36
7,934.42
8,221.01
286.59*
TELEPHONE
233.97
906.10
915.95
9.85*
SANITATION EXPENSE
229.50
1,146.00
1,294.50
148.50*
CASUALTY - LIABILITY INS.
7,554.98
28,611.66
15,865.60
12,746.06
REPAIRS - MAINTENANCE
2,074.79
5,745.04
8,628.71
2,883.67*
DEPRECIATION
3,626.20
14,309.65
14,888.94
579.29*
OCCUPANCY EXPENSE
20,349.45
77,367.44
67,990.29
9,377.15
SECURITY SERVICES
518.03
1,981.93
2,286.70
304.77*
ADVERTISING - SIGNS
247.25
380.50
227.75
152.75
ACCTG• - LEGAL - LICENSES
1,326.48
2,177.48
7,420.89
5,243.41*
MUSIC SERVICE
65.40
261.60
261.60
SERVICE EXPENSE
2,157.16
4,801.51
10,196.94
5,395.43*
OPERATING EXPENSE TOTAL
118.010.92
409.286.09
393x652.29
15.631.80
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NOTES ON QUARTERLY REPORT
FOURTH QUARTER ENDED DECEMBER 31, 1971
BALANCE SHEET
INVENTORIES INCREASED $8,129. OVER THE END OF THE PREVIOUS QUARTER, AND
$47,651. OVER DECEMBER 31, 1971.
INCOME STATEMENT
TOTAL SALES INCREASED $3,520. FROM 1970 AND NET INCOME DECREASED $12,991.
PROMOTIONAL DISCOUNTS INCREASED $24,557• DUE TO A $142,258. INCREASE IN
PURCHASES, BUT OPERATING EXPENSE INCREASED $15,634. LEAVING A DECREASE IN
OPERATIONAL PROFITS OF $15,347. NET NON-OPERATING INCOME INCREASED $2,356.
DUE TO CASH DISCOUNTS FROM INCREASED PURCHASING.
STORE ONE
NET SALES DOWN $57,489. COST OF GOODS SOLD DOWN $34,749. PROMOTIONAL
DISCOUNTS UP $10,086. NET INCOME DOWN $17,021.
STORE TWO
NET SALES UP $61,009. COST OF GOODS SOLD UP $62,540. PROMOTIONAL DIS-
COUNTS UP $14,472. NET INCOME UP $4,029.
ON SALE
COMBINED SALES DOWN $29,457. INCOME DOWN $32,633.
STORE #1 SALES DOWN $34,932. INCOME DOWN $30,965.
STORE #2 SALES UP $5,475. INCOME DOWN $1,669.
OFF SALE
COMBINED SALES UP $32,977. INCOME UP $19,642.
STORE #1 SALES DOWN $22,557. INCOME UP $13,944.
STORE #2 SALES UP $55,534. INCOME UP $5,698.
FOURTH QUARTER ONLY
ON SALE
STORE #1 NET SALES $75,082. NET INCOME $12,338.
STORE #2 NET SALES $56,777. NET INCOME $13,015.
OFF SALE
STORE #1 NET SALES 210,728. NET INCOME $14,963.
STORE #2 NET SALES 220,055. NET INCOME $30,624.
ST. ANTHONY VILLAGE MUNICIPAL LIQUOR STORES
FINANCIAL REPORT - THIRD QUARTER 1971
ST. ANTHONY MUNICIPAL LIQUOR STORES
BALANCE SHEET
SEPTEMBER 30, 1971
ASSETS
CASH IN BANK & TRANSIT
$ 58,306.71
CHANGE & IMPREST PETTY CASH
56,110.00
MISCELLANEOUS RECEIVABLES
762.02
MERCHANDISE INVENTORIES
230,213.04
INVESTMENTS—CERTIFICATES OF DEPOSIT
100,000.00
PREPAID EXPENSES
14,681.49
DUE FROM OTHER FUNDS
1,771.50
TOTAL CURRENT ASSETS
$ 463,844.76
LAND, BUILDING & IMPROVEMENTS
264,100.64
ALLOWANCE FOR DEPRECIATION
(85,273.44)
FURNITURE, FIXTURES, EquiPMENT
137,260.10
ALLOWANCE FOR DEPRECIATION
(97,238.35)
TOTAL FIXED ASSETS
iii 218,648.95
TOTAL ASSETS.
682,693.71
LIABILITIES
TRADE ACCOUNTS PAYABLE
S5 49,059.15
ACCRUED SALARIES
4,068.00
ACCRUED PAYROLL DEDUCTIONS
(414.06)
MINNESOTA SALES TAX FUND
4,510.24
TOTAL CURRENT LIABILITIES
a 57,223.33
NET WORTH
625,470.38
TOTAL LIABILITIES AND NET WORTH
3 682,693.71
NET
WORTH SUMviARY
BALANCE, JANUARY 1, 1971
$ 650,767.62
NET INCOME, FIRST QUARTER 1971
'.b' 68,504.95
SECOND QUARTER 1971
66,076+.54
THIRD QUARTER 1971
65,1 127
195,702.76
LESS TRANSFERS TO GENERAL FUND
—225,000.00
BALANCE, SEPTEMBER 30, 1971
625,470.38
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NET SALES
COST OF GOODS SOLD BE-
FORE PROMOTIONAL DISC.
GROSS PROFIT BEFORE
DISCOUNT
PROMOTIONAL DISCOUNTS
GROSS PROFIT AFTER
DISCOUNT
OPERATING EXPENSE
PROFIT FROM OPERATIONS
NET NON OPERATING INCOME
NET INCOME
STORE TI.,/0
NET SALES
COST OF GOODS SOLD BE-
FORE PROMOTIONAL DISC
GROSS PROFIT BEFORE
DISCOUNT
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GROSS PROFIT AFTER
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OPERATING EXPENSE
PROFIT FROM OPERATIONS
NET NON OPERATING INCOME
NET INCOME
ST. ANTHONY MUNICIPAL LIQUOR STORES
SUMMARY OF OPERATIONS
YEAR TO SEPTEMBER 30, 1971
YEAR TO YEAR TO INCREASE
9/30/71 % 9/30/70 DECREASE*
100.00 737,986.36 100.00 788,903.22 50,916.86-*
68.10 502,542.68 69.29 546,633.81 44,091.13*
31.90
235,443.68
30.71
242,269.41
6,825.73*
4.39
32,427.47
3.61
28,515.17
3,912.30
36.29
267,871.15
34.32
270,784.58
2,913.43*
21.29
157,088.14
20.74
163,646.09
6,557.95*
15.00
110,783.01
13.58
107,138.49
3,644.52
1.47
10,844.84
1.27
10,025.07
819-77
16.47 121,627.85 14.85 117,163.56 4,464.29
1oo.00 618,955.80 100.00 574,973.51 43,982.29
72.23 447,043.77 69.09 397,264.91 49,776.86
27.77
171,912.03
30.91
177,708.60
5,796.57*
5.36
33,177.48
3.77
21,692.14
11,485.34
33.13
205,089.51
34.68
199,400.74
5,688.77
21.68
134,187.03
22.30
128,220.13
5,966.90
11.45
70,902.48
12.38
71,180.61
278.13*
1.16
7,172.43
1.14
6,529.27
643.16
12.61
78,074.91
13.52
77,709.88
365.03
ST. ANTHONY MUNICIPAL LIQUOR STORES
SUMMARY OF ON AND OFF SALES
YEAR TO SEPTEMBER 30, 1971
COMBINED
OPERATING EXPENSE:
SALARIES & WAGES
3RD QTR.
YEAR TO
YEAR TO
INCREASE
ON SALE
1971
DATE 1971
DATE 1970
DECREASE*
NET SALES
117,956.20
347,340.25
374,4o6.12
27,065.87*
COST of GOODS SOLD
40,410.16
112,130.41
116,329.61
4,199.20*
GROSS PROFIT FROM SALES
77,546.04
235,209.84
258,076.51
22,866.67*
RATIO TO NET SALES
65.74%
67.72%
66.92%
1.20%*
OPERATING EXPENSE:
39,863.93
120,585.44
95,608.43
24,977.01
SALARIES & WAGES
40,348.53
123,627.16
128,993.41
5,366.25*
ALL OTHER EXPENSE
13,679.52
38,338.68
35,862.85
2,475.83
TOTAL OPERATING EXPENSE
54,028.05
161,965.84
'164,856.26
2,890.42*
RATIO To NET SALES
45.80%
46.63%
44.030
2.60/
PROFIT FROM OPERATIONS
23,517.99
73,244.00
93,220.25
19,976.25*
OTHER INCOME — NET
1,737-355,873-32
6,044.76
171.44*
NET INCOME
25,255.34
79,117.32
99,265.01
20,147.69*
RATIO TO NET SALES
21.41%
22.78%
26.51%
3.73%*
OFF SALE
NET SALES
359,635.53
1,009,601.91
989,470.61
20,131.30
COST of GOODS SOLD
278,476.08
771,651.09
777,361.80
5,510.71*
GROSS PROFIT FROM SALES
81,159.45
237,750.82
212,106.81
25,642.01
RATIO To NET SALES
22.57%
23.55%
21.43%
2.12%
OPERATING EXPENSE:
SALARIES & WAGES
31,289.66
93,874.57
93,001.72
872.85
ALL OTHER EXPENSE
13,251.63
35,434.76
34,008.24
1,426.52
TOTAL OPERATING EXPENSE
44,541.29
129,309.33
127,009.96
2,299.37
RATIO TO NET SALES
12.39
12.61%
12.83%
.02%*
PROFIT FROM OPERATIONS
36,618.16
108,441.49
85,098.85
23,342.64
OTHER INCOME — NET
3,245.77
12,143.95
10,509.58
1,634.37
NET INCOME
39,863.93
120,585.44
95,608.43
24,977.01
RATIO TO NET SALES
11.06%
11.94%
9.66%
2.28%
ST.
ANTHONY MUNICIPAL LIQUOR STORES
72,570.04
78,240.72
SUMMARY OF ON
AND OFF SALES
7,695.49
21,913.61
20,642.90
YEAR TO SEPTEMBER
30, 1971
31,460.36
94,483.65
98,883.62
STORE
ONE
42.93%
44.98%
41.17%
3RD QTR.
YEAR TO
YEAR TO
INCREASE
ON SALE
1971
DATE 1971
DATE 1970
DECREASE*
NET SALES
73,287.08
210,042.10
240,168.61
30,126.51*
COST of G000s SOLD
25,388.53
67,696.11
74,041.89
6,345.78*
GROSS PROFIT FROM SALES
47,898.55
142,345.99
166,126.72
23,780.73*
RATIO TO NET SALES
65.36%
67.77%
69.17%
1.40%*
OPERATING EXPENSE:
SALARIES, WAGES, BENEFITS
23,764.87
72,570.04
78,240.72
5,670.68*
ALL OTHER EXPENSE
7,695.49
21,913.61
20,642.90
1,270.71
TOTAL OPERATING EXPENSE
31,460.36
94,483.65
98,883.62
4,399.97*
RATIO TO NET SALES
42.93%
44.98%
41.17%
3.81%
PROFIT FROM OPERATIONS
16,438.19
47,862.34
67,243.10
19,380.76*
OTHER INCOME - NET
872.51
3,010.68
3,253.15
242.47*
NET INCOME
17,310.70
50,873.02
70,496.25
19,623.23*
RATIO To NET SALES
23.62%
24.22%
29.35%
5.13%*
OFF SALE
NET SALES
187,867.94
527,944.26
548,734.61
20,790.35*
COST OF GOODS SOLD
143,424.11
402,419.10
444,076.75
41.657.65*
GROSS PROFIT FROM SALES
44,443.83
125,525.16
104,657.86
20,867.30
RATIO TO NET SALES
23.66%
23.78%
19.07%
4.71%
OPERATING EXPENSE:
SALARIES, WAGES, BENEFITS
16,076.88
47,842.96
49,614.97
1,772.01*
ALL OTHER EXPENSE
5.403.37
14,761.53
15,147.50
385.97*
TOTAL OPERATING EXPENSE
21,480.25
62,604.49
64,762.47
2,157.98*
RATIO TO NET SALES
11.43%
11.86%
11.80%
.06%
PROFIT FROM OPERATIONS
22,963.58
62,920.67
39,895.39
23,025.28
OTHER INCOME - NET
2,317.93
7,834.16
6,771.92
1,062.24
NET INCOME
25,281.51
70,754.83
46,667.31
24,087.52
RATIO To NET SALES
13.46%
13.40%
8.50%
4.90%
ST. ANTHONY MUNICIPAL LIQUOR STORES
SUMMARY OF ON AND OFF SALES
YEAR TO SEPTEMBER 309 1971
STORE TWO
OPERATING EXPENSE:
SALARIES, WAGES, BENEFITS
3RD QTR.
YEAR TO
YEAR TO
INCREASE
ON SALE
1971
DATE 1971
DATE 1970
DECREASE*
NET SALES
44,669.12
137,298.15
134,237.51
3,060.64
COST of GOODS SOLO
15,021.63
44,434.30
42,287.72
2,146.58
GROSS PROFIT FROM SALES
29,647.49
92,863.85
91,949.79
914.06
RATIO To NET SALES
66.37%
67.64%
68.50%
.86%*
OPERATING EXPENSE:
SALARIES, WAGES, BENEFITS
16,583.66
51,057.12
50,752.69
304.43
ALL OTHER EXPENSE
5,984.03
16,425.07
15,219.95
1,205.12
TOTAL OPERATING EXPENSE
22,567.69
67,482.19
65,972.64
1,509.55
RATIO To NET SALES
50.52%
49.15%
49.15%
-0-
PROFIT FROM OPERATIONS
7,079.80
25,381.66
25,977.15
595.49*
OTHER INCOME — NET
864.84
2,862.64
2,791.61
71.03
NET INCOME
7,944.6644
28,244.30
28,768.76
524.4�6/*
RATIO TO NET SALES
17.70
20.57%
21.43%
•86%o*
OFF SALE
NET SALES
171,767.59
481,657.65
440,736.00
40,921.65
COST of GOODS SOLO
135,051.97
369,431.99
333,285.05
36,146.94
GROSS PROFIT FROM SALES
36,715.62
112,225.66
107,450.95
4,774.71
RATIO To NET SALES
21.38%
23.30%
24.38%
1.08%*
OPERATING EXPENSE:
SALARIES, WAGES, BENEFITS
15,212.78
46,031.61
43,386.75
2,644.86
ALL OTHER EXPENSE
7,848.26
20,673.23
18,860.74
1,812.49
TOTAL OPERATING EXPENSE
23,061.04
66,704.84
62,247.49
4,457.35
RATIO To NET SALES
13.43%
13.85%
14.12%
.27%*
PROFIT FROM OPERATIONS
13,654.58
45,520.82
45,203.46
317.36
OTHER INCOME — NET
927.84
4,309.79
3,737.66
572.13
NET INCOME
14,582.42
49,830.61
48,941.12
889.49
RATIO TO NET SALES
8.40
10.35%
11.10%
.75%*
ST. ANTHONY MUNICIPAL LIQUOR STORES
OPERATING EXPENSE (SCHEDULE 1)
YEAR TO SEPTEMBER 30, 1970
COMBINED
3RD QTR.
YEAR TO
YEAR TO
INCREASE
1971
DATE 1971
DATE 1970
DECREASE*
BAR WAGES
28,307.55
87,593+25
94,208.85
6,615.60*
OFF SALE WAGES
20,587.56
61,555.59
61,510.62
44.97
CUSTODIANS WAGES
3,196.53
10,135.21
9,674.86
460.35
MANAGERS SALARIES
8,161.46
25,425.71
27,199.52
1,773+81*
BOOKKEEPERS SALARIES
2,975.76
9,421.48
8,684.24
737.24
MEDICAL - LIFE INSURANCE
2,257.72
5,476.70
4,o6o.85
1,415.85
PENSION CONTRIBUTION
6,151.61
17,893.79
16,656.19
1,237.60
PAYROLL EXPENSE
71,638.19
217,501.73
221,995.13
_4,3.40*
LAUNDRY
1,056.59
3,323.75
3,134.19
189.56
BAR SUPPLIES
1,499.97
4,078.06
4,186.99
108.93*
OFF SALE SUPPLIES
1,916.18
4,117.53
4,282.74
165.21*
CLEANING SUPPLIES
553.73
1,339.86
818.63
521.23
OFFICE EXPENSE
240.51
694.80
689.79
5.01
TRAVEL EXPENSE
179.25
557.10
624.14
67.04*
SUPPLIES - EXPENSE
5,446.23
14,111.10
13,736.48
374.62
RENT
4,805.70
12,800.46
11,992.14
808.32
HEAT - FUEL
259.25
1,411.46
1,337.17
74.29
UTILITIES
2,941.86
5,807.06
5,918.61
111.55*
TELEPHONE
222.82
672.13
692.82
20.69*
SANITATION EXPENSE
310.50
916.50
972.50
56'00*
CASUALTY - LIABILITY INS.
6,519.83
21,056.68
11,607.96
9,448.72
REPAIRS - MAINTENANCE
1,452.91
3,670.25
6,119.74
2,449.49*
DEPRECIATION
3,616.25
10,683.45
11,166.72
483.27*
OCCUPANCY EXPENSE
20,129.12
57,017.99
49,807.66
7,210.33
SECURITY SERVICES
489.40
1,463.90
1,789.65
325.75*
ADVERTISING - SIGNS
9.00
133.25
132.00
1.25
AOCTG. - LEGAL - LICENSES
792.00
851.00
4,209.10
3,358.10*
MUSIC SERVICE
65.40
196.20
196.20
-0-
SERVICE EXPENSE
1,355.80
2,644.35
6,326.95
3,682.60*
OPERATING EXPENSE TOTAL
8.569.34
291+275.17
291.866.22
591.05*
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ST. ANTHONY VILLAGE MUNICIPAL LIQUOR STORES
FINANCIAL REPORT - ?ND QUARTER 1971
ST. ANTHONY MUNICIPAL LIQUOR STORES
BALANCE SHEET
JUNE 30, 1971
ASSETS
CASH IN BANK & TRANSIT
3 43,549.27
CHANGE AND IMPREST PETTY CASH
58,110.00
MISCELLANEOUS RESEIVABLES
849.29
MERCHANDISE INVENTORIES
273,598.54
INVESTMENTS - CERTIFICATES OF DEPOSIT
10o,0O0.00
PREPAID EXPENSES
12,481.57
DUE FROM OTHER FUNDS
1,621.50
TOTAL CURRENT ASSETS
9 490,210.17
LAND, BUILDINGS & IMPROVEMENTS
264,100.64
ALLOWANCE FOR DEPRECIATION
(83,435.70)
FURNITURE, FIXTURES & EQUIPMENT
137,868.23
ALLOWANCE FOR DEPRECIATION
(97,149.e4)
TOTAL FIXED ASSETS
$ 221,383.33
TOTAL ASSETS
$ 711,593.50
LIABILITIES
TRADE ACCOUNTS PAYABLE
$ 67,016.89
ACCRUED SALARIES
3,149.61
ACCRUED PAYROLL DEDUCTIONS
1,405.63
MINNESOTA SALES TAX FUND
4,670.26
TOTAL CURRENT LIABILITIES
8 76,242.39
NET WORTH
635,351.11
TOTAL LIABILITIES AND NET WORTH
8 711,593.50
NET WORTH SUMMARY
BALANCE, JANUARY 1, 1971
$ 650,767.62
NET INCOME, FIRST QUARTER X71 $68,504,95
SECOND QUARTER '71 66,076.54
134,583.49
LESS TRANSFERS TO GENERAL FUND
-150,000.00
BALANCE, JUNE 30, 1971
j 635,351.11
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ST.
ANTHONY MUNICIPAL LIQUOR STORES
SUMMARY
OF OPERATIONS
YEAR TO
JUNE 30, 1971
YEAR TO
YEAR TO
INCREASE
STORE ONE
_%
6-30-71
%
6-30-70
DECREASE'S
NET SALES
100.00
476,831.34
100.00
514,898.30
38,066.96*
COST OF GOODS SOLD BE-
FORE PROMOTIONAL Disc.
68.34
325,850.89
69.12
3559906.47
30,055.58*
GROSS PROFIT BEFORE
DISCOUNT
31.66
150,980.45
30.88
158,991.83
8,011.38*
PROMOTIONAL DISCOUNTS
5.15
24,548.32
3.85
19,834.89
4,713.43
GROSS PROFIT AFTER
DISCOUNT
36.81
175,528.77
34.73
178,826.72
3,297.95*
OPERATING EXPENSE
(SCHEDULE 1)
21.84
104,147.53
20.76
106,891.38
2,743.85*
PROFIT FROM OPERATIONS
14.97
71,381.24
13.97
71,935.34
554.10*
NET NON OPERATING INCOME
1.61
7,654.40
1.17
6,031.70
1,622.70
NET INCOME
13.36
79,035.64
15.14
77,967.04
1,068.60
STORE TWO
NET SALES
100.00
402,519.09 100.00
373,039.92
29,479.17
COST OF GOODS SOLO BE-
FORE PROMOTIONAL DISC.
71,82
289,077.60
69,52
259,361.28
29,716.32
GROSS PROFIT BEFORE
DISCOUNT
28.18
113,441.49
30.48
113,678.64
237.15*
PROMOTIONAL DISCOUNTS
6.28
25,284.91
3.87
14,442.80
10,842.11
GROSS PROFIT AFTER
DISCOUNT
34.46
138,726.40
34.35
128,121.44
10,604.96
OPERATING EXPENSE
(SCHEDULE 1)
22.00
88,558.30
22.44
83,691.14
4,867.16
PROFIT FROM OPERATIONS
12.46
50,168.10
11.91
44,430.30
5,737.80
NET NON OPERATING INCOME
1.34
5,379.75
1.09
4,066.92
1,312.83
NET INCOME
13.80
55,547.85
13.00
48,497.22
7,050.63
ST. ANTHONY MUNICIPAL LIQUOR STORES
SUMMARY OF ON AND OFF SALES
YEAR TO JUNE 30, 1971
COMBINED
OPERATING EXPENSE:
SALARIES & WAGES
2ND QTR.
YEAR TO
YEAR TO
INCREASE
ON SALE
1971
DATE 1971
DATE 1970
DECREASE*
NET SALES
116,420.11
229,384.05
248565.36
19,181.31*
COST OF GOODS SOLD
37,444.14
71,720.25
77,191.18
0.9
GROSS PROFIT FROM SALES
78,975.97
157,663.80
171074.18
13,710.38*
RATIO TO NET SALES
67.84%
68.73%
68.94%
.21%*
OPERATING EXPENSE:
SALARIES & WAGES
42,459.72
83,278.63
84,579.93
1,301.30*
ALL OTHER EXPENSE
12,032.84
24,659.16
23,540.16
1,119.00
TOTAL OPERATING EXPENSE
54,492.56
107,937.79
108,120.09
182.30*
RATIO To NET SALES
46.81%
47.06%
43.49%
3.57%
PROFIT FROM OPERATIONS
24,483.41
49,726.01
63,254.09
13,528.08*
OTHER INCOME — NET
1,858.31
4,135.97
3,906.67
229.30
NET INCOME
26,341.72
53,861.98
67,160.76
13,298.78*
RATIO To NET SALES
22.63%
23.48%
27.01%
3.53
OFF SALE
NET SALES
346,034.85
649,966.38
639,372.86
10,593.52
COST OF GOODS SOLD
267,895.29
493.375.01
503,798.88
10,423.87*
GROSS PROFIT FROM Si.ALES
78,139.56
156,591.37
135,573.98
21,017.39
RATIO TO NET SALES
22.58%
24.09%
21.201%
2.89%
OPERATING EXPENSE:
SALARIES & WAGES
32,174.85
62,584.91
60,040.10
2,544.81
ALL OTHER EXPENSE
10,628.74
22,183.13
22,422.33
239.20*
TOTAL OPERATING EXPENSE
42,803.59
84,768.04
82,462.43
2,305.61
RATIO TO NET SALES
12.37%
13.04%
12.89%
-15%
PROFIT FROM OPERATIONS
35,335.97
71,823.33
53,111.55
18,711.78
OTHER INCOME - NET
4,400.85
8,898.18
6.191.95
2,706.23
NET INCOME
39,736.82
80,721,51
59,303.50
21,418.01
RATIO To NET SALES
11.48%
12.42%
9.28%
3,14%
ST. ANTHONY MUNICIPAL LIQUOR STORES
SUMMARY OF ON AND OFF SALES
STORE ONE
YEAR To JUNE 30, 1971
OPERATING FNPCNSE,
SALARIES & WAGES
2ND QTR.
YEAR TO
YEAR TO
INCREASE
ON SALE
1971
DATE 1971
DATE 1970
DECREASE*
NET SALES
71,656.53
136,755.02
157,686.06
20,931.04*
COST OF GOODS SOLD
22,762.11
42,307.58
48,734.65
6,427.07*
GROSS PROFIT FROM SALES
48,894.42
94,447.44
108,951.41
14,503.97*
RATIO TO NET SALes
68.23
69.06%
69.09"/0
.03%*
OPERATING FNPCNSE,
SALARIES & WAGES
24,553.12
48,805.17
51,492.92
2,687.75*
Ai, OITIER EXPENSE
6,798.76
.14,218.12
13,431.06
787.06
TOTAL OPERATING EXPENSE
31,351.88
63,023.29
64,923.98
1,900.69*
RATIO To NET SALES
43.75%
46.o8%
41,17%
4.91%
PROFITS FROM OPERATIONS
17,542.54
31,424.15
44,027.43
12,603.28*
OTHER INCOME — NET
929.16
2,138.17
2,032.89
105.28
NET INCOME
18,471.70
33,562.32
46,060.32
12,498.00*
RATIO To NET SALES
25.78%
24.54%
29.21%
4.67%*
OFF SALE
NET SALES
183,239.99
340,076.32
357,212.24
17,135.92*
COST OF GOODS SOLD
141,462.41
258,994.99
287,336.93
28,341.94*
GROSS PROFIT FROM SALES
41,777.58
81,081.33
69,875.31
11,206.02
RATIO TO NET SALES
22.80%
23.84%
17,87%
5.97%
OPERATING EXPENSES
SALARIES & WAGES
16,349.42
31,766.08
32,142.03
375.95*
ALL OTHER EXPENSE
4,093.03
9,358.16
9,825.37
467.21* -
TOTAL OPERATING EXPENSE
20042.45
41,124.24
41,967.40
843.16*
RATIO TO NET SALES
11.16%
12.09%
11.74%
.35%
PROFITS FROM OPERATIONS
21,335.13
39,957.09
27007.91
12,049.18
OTHER INCOME — NET
2,750.07
5,516.23
3,998.81
1,517.42
NET INCOME
24,085.20
45,473.32
31,906.72
13,566.60
RATIO TO NET SALES
13.14%
13.37%
8.93%
4.44%
ST. ANTHONY iMUNICIPAL LIgUOR STORES
SUVkIARY OF ON AND OFF SALES
STORE Tl•10
YEAR TO JUNE 30, 1971
2ND QTR.
YEAR TO
YEAR TO
INCREASE
ON SALE
' 1971
DATE 1971
DATE 1970
DECREASE*
NET SALES
44,763.58
92,629.03
90,879.30
1,749.73
COST OF GOODS SOLO
14,682.03
29,412.67
28,456.53
956.14
GROSS PROFIT FROM SALES
30,081.55
63,216.36
62,422.77
793.59
RATIO To NET SALES
67.20%
68.25%
67.69%
.56%
OPERATING EXPENSE:
SALARIES & WAGES
17,906.6o
34,473.46
33,087.01
1,386.45
ALL OTHER EXPENSE
5,234.08
10,441.04
10,109.10
331.94
TOTAL OPERATING EXPENSE
23,140.68
44,914.50
43,196.11
1,718.39
RATIO To NET SALES
51.70`%
48.49%
47.53%
.96%
PROFITS FROM OPERATIONS
6,940.87
18,301.86
19,226.66
924.80*
OTHER INCOME — NET
929.15
1,997.80
1,873.78
124.02
NET INCOME
7,870.02
20,299.66
21,100.44
800.78*
RATIO To NET SALES
17.58%
21.92%
23.21%
1.29%*
OFF SALE
NET SALES
162,794.86
3o9,89o.o6
282,160.62
27,729.44
COST OF GOODS SOLD
126,432.88
234,380.02
216,461.95
17,918.07
GROSS PROFIT FROM SALES
36,361.98
75,510.04
65,698.67
9,811.37
RATIO To NET SALES
22.34%
24.37%
23.28%
1.09%
OPERATING EXPENSE:
SALARIES & WAGES
15,825.43
30,818.83
27,898.07
2,920.76
ALL OTHER EXPENSE
6,535.71
12,824.97
12,596.96
228.01
TOTAL OPERATING EXPENSE
22,361.14
43,643.80
40,495.03
3,148.77
RATIO To NET SALES
13.74%
14.08%
14.35%
.27%*
PROFIT FROM OPERATIONS
14,000.84
31,866.24
25,203.64
6,662.60
OTHER INCOME — NET
1,650.78
3,361.95
2,193.14
1,188.81
NET INCOME
15,651.62
35,248.19
27,396.78
7,851.41
RATIO To NET SALES
9.61%
11.37%
9.71%
1.66%
ST. ANTHONY MUNICIPAL LIQUOR STORES
OPERATING EXPENSE SCHEDULE 1)
YEAR TO JUNE 30, 1971
COMBINED
2ND QTR.
YEAR TO
YEAR TO
INCREASE
1971
DATE 1971
DATE 1970
DECREASE*
BAR WAGES
30,178.85
59,265.70
62,186.39
2,9oo.69*
OFF SALE WAGES
20,939.50
40,968.03
40,114.35
853.68
CUSTODIANS WAGES
3,529.07
6,938.68
6,342.46
596.22
MANAGERS SALARIES
8,757.29
17,264.25
18,035.84
771.59*
BOOKKEEPER'S SALARIES
3,323.16
6,445.72
5,602.16
843.56
MEDICAL - LIFE INSURANCE
1,566.62
3,218.98
2,431.65
787.33
PENSION CONTRIBUTION
6,340.08
11,742.18
9,907.18
1,835.00
PAYROLL EXPENSE
74,634.57
145,863.54
144,620.03
1,243.51
LAUNDRY
1,115.92
2,267.16
2,151.04
116.12
BAR SUPPLIES
1,123.09
2,578.09
2,730.65
152.56*
OFF SALE SUPPLIES
1,176.44
2,201.35
2,846.41
645.06*
CLEANING SUPPLIES
376.66
786.13
573.28
212.85
OFFICE EXPENSE
138.38
454.29
585.84
131.55*
TRAVEL
167.05
377.85
447.28
69.43*
SUPPLIES - EXPENSE
4,097.54
8,664.67
9,334.50
669.63*
RENT
3,997.38
7,994.76
7,994.76
-0-
HEAT - FUEL
375.78
1,152.21
1,081.99
70.22
UTILITIES
1,267.84
2,865.20
3,322.45
457.25*
TELEPHONE
227.15
449.31
469.85
20.54*
SANITATION EXPENSE
307.00
6o6.00
652.00
46.00*
CASUALTY - LIABILITY INS.
7,204.68
14,536.85
7,442.52
7,094.33
REPAIRS - MAINTENANCE
1,029.56
2,217.34
4,164.08
1,946.74*
DEPRECIATION
3,533.60
7,067.20
7,444.48
377.28*
OCCUPANCY EXPENSE
17,942.99
36,888.87
32,572.13
4,316.74
SECURITY SERVICES
489.40
974.50
1,287.10
312.60*
ADVERTISING - SIGNS
12.25
124.25
123.00
1.25
ACCTG. - LEGAL - LICENSES
54.00
59.00
2,514.96
2,455.96*
MUSIC SERVICE
65.40
130.80
130.80
-0-
SERVICE EXPENSE
621.05
1,288.55
4,055.86
2,767.31*
OPERATING EXPENSE TOTAL
97.296.15
192,705.83
190,582.52
2.123.31
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NOTES ON QUARTERLY REPORT
SECOND QUARTER ENDED JUNE 30, 1971
BALANCE SHEET
INVENTORIES INCREASED 546,476. FROM THE END OF THE PREVIOUS QUARTER,
AND $34,760 FROM JUNE 30, 1970.
INCOME STATEMENT
TOTAL SALES DECREASED $8,588. FROM 1970 AND NET INCOME INCREASED
$8,119. PROMOTIONAL DISCOUNTS INCREASED $15,556. DUE TO A $107,000.
INCREASE IN PURCHASES MAKING A PROFIT INCREASE OF $5,184. NET NON-
OPERATING INCOME INCREASED $2,936. DUE TO CASH DISCOUNTS FROM IN-
CREASED PURCHASING.
STORE ONE
NET SALES DOWN 538,067. COST OF GOODS SOLD DOWN $30,056. PROMO-
TIONAL DISCOUNTS UP $4,713. NET INCOME UP $1,069.
STORE TWO
NET SALES UP $29,479• COST OF GOODS SOLD UP $29,716. PROMOTIONAL
DISCOUNTS UP $10,842. NET INCOME UP $7,051.
ON SALE
COMBINED SALES DOWN $19,181. INCOME DOWN 513,300.
STORE #1 SALES DOWN $20,931. INCOME DOWN 5129498.
STORE #2 SALES UP $1,750. INCOME DOWN $801.
OFF SALE
COMBINED SALES UP $10,594. INCOME UP $21,418.
STORE f#1 SALES DOWN $17,136. INCOME UP 513,567.
STORE #2 SALES UP $27,729. INCOME UP S7,851.
ST. ANTHONY VILLAGE MUNICIPAL LIQUOR STORES
FINANCIAL REPORT - FIRST QUARTER 1971
ST. ANTHONY MUNICIPAL LIQUOR STORES
BALANCE SHEET
MARCH 31, 1971
ASSETS
CASH IN BANK & TRANSIT
$ 26,504.97
CHANGE AND IMPREST PETTY CASH
56,110.00
MISCELLANEOUS RECEIVABLES — INTEREST
3,109.60
MERCHANDISE INVENTORIES
227,122.32
INVESTMENTS — CERTIFICATES OF DEPOSIT
150,000.00
PREPAID INSURANCE
19,597.25
DUE FROM OTHER FUNDS
1,471.50
TOTAL CURRENT ASSETS
tiro 465,915.64
LAND, BUILDINGS & IMPROVEMENTS
264,100.64
ALLOWANCE FOR DEPRECIATION
(61,597.96)
FURNITURE, FIXTURES & EQUIPMENT
136,215.06
ALLOWANCE FOR DEPRECIATION(95,453-98)
TOTAL FIXED ASSETS
8 223,263.76
TOTAL ASSETS
3 709,179.42
LIABILITIES
TRADE ACCOUNTS PAYABLE � 52,162.63
ACCRUED SALARIES 7,566.97
ACCRUED PAYROLL DEDUCTIONS 609.10
MINNESOTA SALES TAX FUND 4,347,95
TOTAL CURRENT LIABILITIES 8 64,906.65
NET WORTH 644.272.57
TOTAL LIABILITIES AND NET WORTH $ 709,179.42
NET WORTH SUMMARY
BALANCE, JANUARY 1, 1971 .B 650,767.62
NET INCOME , FIRST QUARTER 1971 66,504,95
LESS TRANSFERS TO GENERAL FUND —75,000.00
BALANCE, MARCH 31, 1971 644,272. 57
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ST.
ANTHONY
MUNICIPAL LIQUOR STORES
SUMMARY
OF OPERATIONS
YEAR
TO MARCH 31,
1971
YEAR TO
YEAR TO
INCREASE
STORE ONE
%
3-31-71
°0
3-31-70
DECREASE*
NET SALES
100.00
221,934.82
100.00
241,6o8.22
19,673.40*
COST OF GOODS SOLD BE-
FORE PROMOTIONAL Disc.
66.43
147,440.56
70.67
170,748.20
23,307.64
GROSS PROFIT BEFORE
DISCOUNT
33.57
74,494.26
29.33
70,860.02
3,634.24
PROMOTIONAL DISCOUNTS
4.67
10,362.E
3.05
7,375.22
2,987.29
GROSS PROFIT AFTER
DISCOUNT
38.24
84,856.77
32.38
78,235.24
6,621.53
OPERATING EXPENSE
SCHEDULE 1)
23.59
52,353.20
20.40
49,296.23
3,056.97
PROFIT FROM OPERATIONS
14.65
32,503.57
11.98
28,939.01
3,564.56
NET NON-OPERATING INCOME
1.79
3,975.17
1.26
3,041.38
933.79
NET INCOME
16.44
36,478.74
13.24
31,980.39
4,498.35
STORE TWO
NET SALES
100.00
194,960.65
100.00
177,897.29
17,063.36
COST OF G0005 SOLD BE-
FORE PROMOTIONAL DISC.
68.67
133,888.75
68.95
122,665.76
11,222.99
GROSS PROFIT BEFORE
DISCOUNT
31.33
61,071.90
31.05
55,231.53
5,840.37
PROMOTIONAL DISCOUNTS
5.75
11,210.97
3.40
6,060.90
5,150.07
GROSS PROFIT AFTER
DISCOUNT
37.08
72,282.87
34.45
61,292.43
10,990.44
OPERATING EXPENSE
(SCHEDULE 1)
22.09
43,056.48
21.77
38,730.31
_4,326.17
PROFIT FROM OPERATIONS
14.99
29,226.39
12.68
22,562.12
6,664.27
NET NON-OPERATING INCOME
1.44
2,799.82
.76
1,353.39
1.446.43
NET INCOME
16.43
32,026.21
13.44
23,915.51
8,110.70
ST. ANTHONY MUNICIPAL LIQUOR STORES
SUMMARY OF ON AND OFF SALES
YEAR TO MARCH 31, 1971
COMBINED
YEAR To
YEAR TO
INCREASE
ON SALE
DATE 1971
DATE 1970
DECREASE*
NET SALES
112,963.94
120,540.70
7,576.76*
COST OF GOODS SOLD
34,276.11
37,985.81
3,709.70*
GROSS PROFIT FROM SALES
78,687.83
82,554.89
3,867.06*
RATIO TO NET SALES
69.66%
68.48%
1.18%
OPERATING EXPENSE:
SALARIES & WAGES
40,818.91
38,366.90
2,452.01
ALL OTHER EXPENSE
12,626.32
11,3o6.37
1,319.95
TOTAL OPERATING EXPENSE
53,445.23
49,673.27
3,771.96
RATIO TO NET SALES
47.31%
41.21%
6.10%
PROFIT FROM OPERATIONS
25,242.60
32,881.62
7,639.02*
OTHER INCOME — NET
2,277.66
1,257.94
1,019.72
NET INCOME
27,520.26
34,139.56
6,619.30*
RATIO TO NET SALES
24.36%
28.08%
3.72%*
OFF SALE
NET SALES
303,931.53
298,964.81
4,966.72
COST OF G000s SOLD
225,479.72
241,992.03
16,512.31*
GROSS PROFIT FROM SALES
78,451.81
56,972.78
21,479.03
RATIO TO NET SALES
25.81%
19.06%
6.75%
OPERATING EXPENSE:
SALARIES & WAGES
30,41o.o6
27,157.31
3,252.75
ALL OTHER EXPENSE
11,554.39
11,195.96
358.43
TOTAL OPERATING EXPENSE
41,964.45
38,353.27
3,611.18
RATIO TO NET SALES
13.81%
12.83%
.98%
PROFIT FROM OPERATIONS
36,487.36
18,619.51
17,867.85
OTHER INCOME - NET
4,497.33
3,136.83
1,360.50
NET INCOME
40,984.69
21,756.34
19,228.35
RATIO TO NET SALES
13.48%
7.28%
6.20%
ST. ANTHONY MUNICIPAL LIQUOR STORES
SUMMARY OF ON AND OFF SALES
STORE ONE
YEAR TO MARCH 31, 1971
OPERATING EXPENSE:
SALARIES, WAGES, BENEFITS
YEAR TO
YEAR TO
INCREASE
ON SALE
DATE 1971
DATE 1970
DECREASE*
NET SALES
65,098.49
74,974.43
9,875.94*
COST OF G000s SOLD
19,545.47
23,823.06
4,277.59*
GROSS PROFIT ON SALES
45,553.02
51,151.37
5,598.35*
RATIO TO NET SALES
69.98
68.23%
1.75%
OPERATING EXPENSE:
21,388.12
9,990.02
11,398.10
SALARIES, WAGES, BENEFITS
24,252.05
23,597.65
654.40
ALL OTHER EXPENSE
7,419.36
6,335.18
1,084.18
TOTAL OPERATING EXPENSE
31,671.41
29,932.83
1,738.58
RATIO TO NET SALES
48.65%
39.98
8.73%
PROFITS FROM OPERATIONS
13,881.61
21,218.54
7,336.93*
OTHER INCOME — NET
1,209.01
771.83
437.18
NET INCOME
15,090.62
21,990.37
6,899.75*
RATIO TO NET SALES
23.18%
29.33%
6.15%*
OFF SALE
NET SALES
156,836.33
166,633.79
9,797.46*
COST OF GOODS SOLD
117,532.58
139,549.92
22,017.34*
GROSS PROFIT ON SALES
39,303.75
27,083.87
12,219.88
RATIO To NET SALES
25.06%
16.25%
8.81%
OPERATING EXPENSE:
SALARIES, WAGES, BENEFITS
15,416.66
14,329.22
1,087.44
ALL OTHER EXPENSE
5,265.13
5,034.18
230.95
TOTAL OPERATING EXPENSE
20,681.79
19,363.40
1,318.39
RATIO TO NET SALES
13.19%
10.28%
2.91%
PROFIT FROM OPERATIONS
18,621.96
7,720.47
10,901.49
OTHER INCOME — NET
2,766.16
2,269.55
496.61
NET INCOME
21,388.12
9,990.02
11,398.10
RATIO TO NET SALES
13.64%
6.00%
7.64%
ST. ANTHONY MUNICIPAL LIQUOR STORES
SUMMARY OF ON AND OFF SALES
STORE TWO
YEAR TO MARCH 31, 1971
OPERATING EXPENSES
SALARIES, WAGES, BENEFITS
YEAR TO
YEAR TO
INCREASE
ON SALE
DATE 1971
DATE 1970
DECREASE*
NET SALES
47,865.45
45,566.27
2,299.18
COST of GOODS SOLD
14,730.64
14,162.75
567.89
GROSS PROFIT FROM SALES
33,134.81
31,403.52
1,731.29
RATIO TO NET SALES
69.23%
68.91%
.32%
OPERATING EXPENSES
SALARIES, WAGES, BENEFITS
16,566.86
14,769.25
1,797.61
ALL OTHER EXPENSE
5,206.96
4,971.19
235.77
TOTAL OPERATING EXPENSE
21,773.82
19,740.44
2,033.38
RATIO TO NET SALES
45.49%
43.32%
2.17%
PROFITS FROM OPERATIONS
11,360.99
11,663.08
302,09*
OTHER INCOME - NET
1,068.65
486.11
582.54
NET INCOME
12,429.64
12,149.19
280.45
RATIO TO NET SALES
25.97%
26.66%
.69%*
OFF SALE
NET SALES
147,095.20
132,331.02
14,764.18
COST OF GOODS SOLD
107,947.14
102,442.11
5,505.03
GROSS PROFIT FROM SALES
39,148.06
29,888.91
9,259.15
RATIO TO NET SALES
26.61%
22.56%
4.03%
OPERATING EXPENSES
SALARIES, WAGES, BENEFITS
14,993.40
12,828.09
2,165.31
ALL OTHER EXPENSE
6,289.26
6,161.78
127.48
TOTAL OPERATING EXPENSE
21,282.66
18,989.87
2,292.79
RATIO TO NET SALES
14.47%
14.35%
•12%
PROFIT FROM OPERATIONS
17,865.40
10,899.04
6,966.36
OTHER INCOME - NET
1,731.17
867.28
863.89
NET INCOME
19,596.57
11,766.32
7,830.25
RATIO TO NET SALES
13.32%
8.29%
5.03%
ST. ANTHONY MUNICIPAL LIQUOR STORES
OPERATING EXPENSE (SCHEDULE 1)
YEAR TO MARCH 31, 1971
COMBINED
YEAR TO
YEAR TO
INCREASE
DATE 1971
DATE 1970
DECREASE*
BAR WAGES
29,106.85
28,958.81
148.04
OFF SALE WAGES
20,028.53
18,573.22
1,455.31
CUSTODIANS WAGES
3,409.61
2,956.84
452.77
MANAGER'S SALARIES
8,506.96
8,329.64
177.32
BOOKKEEPER'S SALARIES
3,122.56
2,585.76
536.80
MEDICAL - LIFE INSURANCE
1,652.36
960.05
692.31
PENSION CONTRIBUTION
5,402.10
3,159.89
2,242.21
PAYROLL EXPENSE
71,228.97
65,524.21
5,704.76
LAUNDRY
1,151.24
1,116.14
35.10
BAR SUPPLIES
1,455.00
1,311.15
143.85
OFF SALE SUPPLIES
1,024.91
1,499.82
474.91*
CLEANING SUPPLIES
409.47
278.49
130.98
OFFICE EXPENSE
315.91
242.00
73.91
TRAVEL
210.80
176.40
34.40
SUPPLIES - EXPENSE
4,567.33
4,624.00
56.67*
RENT
3,997.38
3,997.38
-0-
HEAT - FUEL
776.43
717.96
58.47
UTILITIES
1,597.36
1,567.35
30.01
TELEPHONE
222.16
242.73
20.57*
SANITATION EXPENSE
299.00
319.50
20.50*
CASUALTY - LIABILITY INS.
7,332.17
3,615.16
3,717.01
REPAIRS - MAINTENANCE
1,187.78
1,862.08
674.30*
DEPRECIATION
3,533.60
3,722.24
188.64*
OCCUPANCY EXPENSE
18,945.88
16,044.40
2,901.48
SECURITY SERVICES
485.10
435.85
49.25
ADVERTISING - SIGNS
112.00
90.20
21.80
ACCTG. - LEGAL - LICENSES
5.00
1,242.48
1,237.48*
MUSIC SERVICE
65.40
65.40
-0-
SERVICE EXPENSE
667.50
1,833.93
1,166.43*
OPERATING EXPENSE TOTAL
95,409.68
88.026.54
%,383.14
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NOTES ON QUARTERLY REPORT
FIRST QUARTER ENDED MARCH 31, 1971
BALANCE SHEET
INVENTORIES INCREASED $369431. FROM THE END OF THE PREVIOUS QUARTER, BUT
ONLY $3,640. FROM MARCH 31, 1970.
A CERTIFICATE OF DEPOSIT IN THE AMOUNT OF $100,000. EARNS INTEREST AT THE
RATE OF 7% PER ANNUM AND MATURES MAY 4, 1971. A SECOND CERTIFICATE OF
DEPOSIT IN THE AMOUNT OF $50,000. WAS PURCHASED ON FEBRUARY 25, 1971. IT
EARNS INTEREST AT THE RATE OF 5% PER ANNUM AND MATURES AUGUST 25, 1971.
INCOME STATEMENT
TOTAL SALES DECREASED $2,610. FROM 1970, BUT NET INCOME INCREASED $12,609.
INCREASED OPERATING EXPENSES OF $7,383. WERE OFFSET BY AN INCREASE IN
PROMOTIONAL DISCOUNTS OF $8,137. ARISING FROM A $69.443. INCREASE IN PUR-
CHASES AND A SIGNIFICANTLY IMPROVED PROFIT MARGIN ON MERCHANDISE SOLD.
NET NON-OPERATING INCOME INCREASED $2,380. PRINCIPALLY FROM CASH DISCOUNTS
ON INCREASED PURCHASES INTEREST FROM LARGER INVESTED FUNDS.
STORE ONE
NET SALES DECREASED :19,673. THE OFF SALE STORE GROSS PROFIT MARGIN BE-
FORE PROMOTIONAL DISCOUNTS WAS 18.5% AS COMPARED WITH 13.8% FOR THE PREV-
IOUS YEAR. THE INCREASED MARGIN OFFSET THE DECLINE IN SALES AND NET IN-
COME FOR THE STORE INCREASED 54,498.
STORE TWO
NET SALES INCREASED $17,063. THE OFF SALE STORE GROSS PROFIT MARGIN BEFORE
PROMOTIONAL DISCOUNTS WAS 19.0% AS COMPARED WITH 18.0% FOR THE PREVIOUS
YEAR. INCREASED MARGIN AND INCREASED SALES PRODUCED AN INCREASE IN NET
INCOME OF $8,111.
OPERATING EXPENSES
TOTAL STORE -WIDE OPERATING EXPENSES INCREASED $7,383. OR 8.4% FROM MARCH
31, 1970. PAYROLL AND FRINGE BENEFIT COSTS INCREASED $5,705. OR 77.3%
OF THE TOTAL INCREASE. CASUALTY AND LIABILITY INSURANCE PREMIUMS INCREASED
DRAMATICALLY ON FEBRUARY 19, 1971, WHEN A NEW LIQUOR LIABILITY POLICY WAS
PURCHASED.
GENERAL
QUARTERLY REPORTS MAY BE MORE UNDERSTANDABLE AND EASIER TO TYPE IF PENNIES
WERE DROPPED AND ALL AMOUNTS ROUNDED TO THE NEAREST DOLLAR. PERCENTAGES
WOULD ALSO NOT LOSE THEIR SIGNIFICANCE IF THEY WERE CARRIED TO ONE DECIMAL
PLACE INSTEAD OF TWO.