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Home My WebLink About1973 CAFRVILLAGE OF ST. ANTHONY, MINNESOTA FINANCIAL STATEMENTS DECEMBER 31, 1973 L.. nw I Elected Mayor - Duane R. Miedtke Council Donna Stauffer Sally Haik Robert J. Sundland William Sauer VILLAGE OF ST. ANTHONY, MINNESOTA ELECTED AND APPOINTED OFFICIALS DECEMBER 31, 1973 Effective January 1974 Mayor - Duane R. Miedtke Council Donna Stauffer Robert J. Sundland William Sauer Sally Haik Appointed Manager - Jerry L. Dulgar Clerk - treasurer - Carol B. Johnson Assessor - Harry C. Lekson i Term of office expires on the first official business day of January 1974 1974 1976 1974 1975 1976 1978 1978 1976 1976 r - L i L VILLAGE OF ST. ANTHONY, MINNESOTA TABLE OF CONTENTS Page Accountants' opinion I Comments 2 Balance sheets - All funds 6 General Fund Balance sheet B Statement of changes in cash and fund balance B Statement of receipts - Actual compared with budget estimates 9 Statement of disbursements - Actual compared with budget estimates 11 Special revenue funds Balance sheets 16 Statements of receipts and disbursements 16 Special assessment construction funds Balance sheets 19 Statements of receipts and disbursements 19 Special assessment debt service funds Balance sheets 20 Statements of receipts and disbursements 22 Municipal Liquor Fund Balance sheet 24 Statement of income and retained earnings 25 Statement of changes in financial position 26 Statement of operating expenses 27 Public utility funds Balance sheets 28 Statements of income and retained earnings 30 Statements of changes in financial position 31 Water Construction Fund - Statement of receipts and disbursements 32 Miscellaneous information Statement of cash investments and security for deposits 33 Summary statement of receipts and disbursements - All funds 33 Bonds payable - All funds 34 Debt service requirements - All funds 36 Insurance coverage 37 Employees' surety bonds 37 Assessed valuations, tax levies and mill rates 39 F F GEORGE M. HANSEN COMPANY Certified Public Accountants SOUTH PLAZA BUILDING MINNEAPOLIS, MINNESOTA 55416 The Village Council Village of St. Anthony St. Anthony, Minnesota We have examined the accompanying financial statements of the respective funds of the Village of St. Anthony, Minnesota for the year ended December 31, 1973. our examination was made in accordance with generally accepted auditing standards and accordingly included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances. In our opinion, such financial statements present fairly the financial position of the respective funds of the Village of St. Anthony, Minnesota at December 31, 1973 and the results of their operations for the year then ended, in conformity with generally accepted governmental accounting principles applied on a consistent basis. May 3, 197 2 VILLAGE OF ST. ANTHONY, MINNESOTA COMMENTS The Village of St. Anthony 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, as specified in the Statutes, "The council shall exercise the legislative power of the Village and determine all matters of policy. The Village manager shall be the head of the administrative branch of the Village government and shall be responsible to the council for the proper administration of all affairs relating to the Village." The council is composed of five members, including the mayor who is chairman. The Village manager is appointed by the council. STATEMENT Balance sheets are presented on the accrual basis of accounting for all funds. State- ments of income, retained earnings and changes in financial position are presented on the accrual basis for the Public Utility Funds and the Municipal Liquor Fund. The operating statements of all the other funds are presented on the cash basis of account- ing for comparison with budget. GENERAL FUND The General Fund is used to account for all receipts and the activities financed by them which are not accounted for in a special fund. The principal sources of receipts are property taxes, licenses and permits, fines and forfeitures and intergovernmental revenue. Disbursements are for general government, public safety, street and highways, recreation and other functions. The fund balance decreased $36,077 to $140,186 at December. 31, 1973. A condensed summary of receipts and disbursements, excluding investment transactions, is shown below. RECEIPTS General property taxes Licenses and permits Fines and forfeitures Revenue from use of money and property Intergovernmental revenue Other revenue Transfers from other funds DISBURSEMENTS General government Public Safety Highways Sanitation and waste removal Parks and recreation Other functions Transfers to other funds 1973 $107,950 1972 _ Budget Actual Budget Actual $246,923 $215,185 $215,700 $198,567 9,700 13,301 8,400 13,327 10,000 12,740 10,000 8,657 3,000 4,206 2,984 4,442 173,313 172,290 162,476 161,476 25,000 28,254 46,768 37,211 280,000 294,817 329.437 329,43 $747,936 74079 5775.765 753x117 $110,207 $107,950 $108,024 $104,992 321,785 320,605 345,175 340,363 159,435 158,139 137,503 129,509 2,945 2,854 3,347 2,904 67,828 66,220 96,671 94,7.55 86,820 90,071 127,943 101,658 14 815 749 020 5745,839 ,$818,663 $788926 3 SPECIAL REVENUE FUNDS Special revenue funds are established to account for taxes and other revenues (except special assessments) set aside for a particular purpose. Following is a brief description of each fund. State -aid Street Fund - Gasoline tax collections apportioned to the Village from the State of Minnesota for street maintenance are accounted for in this fund. The account receivable of $193,432, from the State of Minnesota, is the Village's unencumbered construction allotment balance at December 31, 1973. This allotment is available only for approved projects. Recreation Fund - This fund accounts for the Village recreation program which is carried on in co-operation with Independent School District No. 282. Disbursements of $45,344 exceeded receipts by $1,083 during 1973 and decreased the cash balance to a deficit of $3,824 at December 31, 1973. Revenue Sharing Fund - This 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 Village's share of revenue for 1973 was $38,016, of which $9,577 will be received during 1974. Expenditures during 1973 were for equipment and a land use study. As of December 31, 1973 $49,460 is available for future expenditures. Special Fire Department Fund - This fund was established to account for the State of Minnesota insurance premium tax receipts and other monies appropriated for the benefit of the Village Fire Department. During 1973, $8,417 was received from the State of Minnesota for 1973 insurance premium taxes, leaving a balance of $15,728 available at December 31, 1973. Special Police Department Fund - This fund was established to account for the State of Minnesota Town Police Aid reimbursement and other monies appropriated for the benefit of the Village Police Department. No expenditures were made from the Fund during 1973. The fund balance was $13,708 at December 31, 1973. 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 or other sources of financing and disbursement of such proceeds for construction work done. Special assessment debt service funds account mainly for collection of assessments against benefited property owners and disbursements of assessment collections for the payment of bonds and interest. Additional revenue approximating $4,100 will be necessary to retire the remaining Improvement Bonds of 1957. L 7 4 MUNICIPAL LIQUOR FUND This fund is maintained to account for the operation of the Village -owned liquor stores. Percentages and detailed statements by stores are included in the report as additional aids in reviewing results of operations. Shown below is a condensed summary of liquor store operations for 1973, 1972 and 1971. 1973 1972 Percent Percent of sales of sales Sales $1,955,034 100.0 $1,867,888 100.0 Cost of sales 1,228,443 62.8 1,216,048 65.1 1971 Percent of sales $1,919,584 100.0 1,264,596 65.9 Gross profit $ 726,591 37.2 $ 651,840 34.9 $ 654,988 Operating expense 417,646 21.4 417,237 22.3 411,590 Operating expense 126,296 Operating income $ 308,945 15.8 $ 234,603 12.6 $ 243,398 Other income less 289 (3,095) (3,531) Net income $ 25.150 other expense 26,635 1.4 17,185 .9 25,164 Net income $ 335,580 17.2 S 251.788 13.5 S 268.562 Transfers to other funds $ 289.817 86.36 1_10 .000 119,15 $ 300.000 Equivalent mill rate to transfers 8.68 2-L70 31.07 PUBLIC UTILITY FUNDS 34.1 21.4 12.7 103 14.0 111,76 Water Operating Fund - This fund accounts for the operations of the Village -owned water system. The fund had net income of $25,150 in 1973. Revenues of the fund are pledged for payment of the Water Revenue Bonds of 1961 and 1963. Sewer Operating Fund - This fund accounts for the operations of the Village -owned sewer system. The fund reported a loss of $2,922 for 1973. During 1971, the Metropolitan Sewer Board purchased the City's equity in the Minneapolis sewer system. Payment is being made over a 30 -year period by means of annual credits against future sewer billings from the Board. The amount payable by the Board in future years is shown as a receivable on the balance sheet in the amount of $139,377. A condensed summary of operations for the Water and Sewer Operating Funds for the last three years is presented below: 1973 1972 1971 Water Operating Fund Operating revenue $151,157 $144,573 $136,526 Operating expense 126,296 130,603 124,674 Operating income $ 24,861 $ 13,970 $ 11,852 Other income and (expense) 289 (3,095) (3,531) Net income $ 25.150 L l0 aZ58 321 5 PUBLIC UTILITY FUNDS (CONTINUED) - 1973 1972 1971 Sewer Operating Fund Operating revenue $107,065 $104,992 $ 98,325 Operating expense i 111,974 107,210 108,880 Operating income (loss) $( 4,909) $( 2,218) $(10,555) Other income and (expense) 1,987 ( 2,385) 489 Net income (loss) 2,922) $( 4.603)10 06 ) ! Operating expenses for 1973 include disposal charges of $70,566 as compared with $63,831 and $66,538 in 1972 and 1971 respectively. WATER CONSTRUCTION FUND Proceeds from the issuance of Water Revenue Bonds of 1961 and 1963 were received in this fund and used to finance the cost of various water improvements. A balance of $46,319 at December 31, 1973 is available for future construction. L L M VILLAGE OF ST. ANTHONY, MINNESOTA BALANCE SHEETS - ALL FUNDS DECEMBER 31, 1973 LIABILITIES. RESERVES AND FUND BALANCE Liabilities $ Accounts payable 17,857 Contracts payable 8,204 Due to other funds 1,100 Deposits payable Accrued liabilities 10,190 Bonded indebtedness Bonds and interest due January 1, 1974 Future maturities - Bonds Reserves Retained earnings Fund balance (deficit) 140,186 Total liabilities, reserves and fund balance $ 177.537 General Fund ASSETS $ 160,631 Cash 100 Petty cash and change funds Cash with paying agents Investments, at cost 9,663 Accounts receivable Accrued interest receivable 2,600 Due from other funds 4,543 Taxes receivable Special assessments receivable Prepaid expense Inventories, at lower of cost or market Property, plant and equipment, at cost less accumulated depreciation Amounts to be provided Total assets$ 177.537 LIABILITIES. RESERVES AND FUND BALANCE Liabilities $ Accounts payable 17,857 Contracts payable 8,204 Due to other funds 1,100 Deposits payable Accrued liabilities 10,190 Bonded indebtedness Bonds and interest due January 1, 1974 Future maturities - Bonds Reserves Retained earnings Fund balance (deficit) 140,186 Total liabilities, reserves and fund balance $ 177.537 Special revenue $ 47,231 25 55,000 203,009 266 S 305.531 $ 760 23,623 193,432 87,716 1--225 .531 Special Assessment funds Debt Construction service funds funds $ 190,945 $ 67,776 13,553 $ 5,550 127,969 13,500 57,479 S 204.498 219,836 674,000 3,271 202,632 992,860 531,042 52.691.417 $ 219,836 1,945,000 175,714 350,867 52.691.417 Municipal Liquor Fund $ 96,313 72,110 100,000 2,083 1,100 11,276 222,330 196.772 E�LU�L'Yi9 $ 90,197 17,314 594,473 S 701.984 Public utilitv $ 141,647 22,690 181,000 201,504 881 705 1,010 1,920,660 52.470.097 $ 9,064 2,600 33,083 2,532 22,690 265,000 209,922 1.925.206 52.470.097 7 n VILLAGE OF ST. ANTHONY, MINNESOTA GENERAL FUND BALANCE SHEET DECEMBER 31, 1973 Cash Petty cash and change funds Accounts receivable Due from public utility funds Taxes receivable Unremitted Delinquent Total assets ASSETS LIABILITIES AND FUND BALANCE Liabilities Accounts payable Contracts payable Accrued liabilities Due to Municipal Liquor Fund Fund balance Total liabilities and fund balance STATEMENT OF CHANGES IN CASH AND FUND BALANCE YEAR ENDED DECEMBER 31, 1973 Cash $ 160,631 100 9,663 2,600 465 4,078 177.537 $ 17,857 8,204 10,190 1,100 140,186 S 177,537 Fund balance Balance, January 1, 1973 $ 115,677 $ 176,263 Cash receipts 910,793 910,793 Disbursements (865,839) (865,839) Investments Maturities (170,000) Purchases 120,000 Accrual adjustments Assets ( 13,481) Liabilities ( 17,550) Balance, December 31, 1973 S 160.631 S 140.186 VILLAGE OF ST. ANTHONY, MINNESOTA GENERAL FUND STATEMENT OF RECEIPTS - ACTUAL COMPARED WITH BUDGET ESTIMATES YEAR ENDED DECEMBER 31, 1973 Budget estimates Actual General property taxes Taxes $ 173,453 State property tax relief fund Homestead tax aid 34,543 Personal property replacement 4,441 $ 243,423 $ 212,437 Penalties and interest on taxes 3,500 2,748 $ 246,923 $ 215,185 Licenses and permits Licenses $ 5,700 $ 6,416 Permits 4,000 6,885 $ 9,700 $ 13,301 Fines, forfeitures and penalties $ 10,000 $ 12,740 Revenue from use of money and property - Interest $ 3,000 $ 4,206 Intergovernmental revenue Local government aid $ 131,143 $ 131,143 Cigarette and liquor taxes 33,300 34,478 Mortgage registry 2,000 2,038 Bank excise 3,500 128 Mobile home registration 770 1,848 County street allotments 2,600 2,655 $ 173,313 $ 172,290 Other revenue Charges for current services $ 1,094 Sale of equipment and unclaimed property 2,379 Refunds and reimbursements Independent School District No. 282 8,097 Municipal Liquor Fund 5,585 State of Minnesota 2,143 Insurance claims and refunds 6,878 Other 1,531 $ 25,000 $ 27,707 Permit surcharge $ 547 n� 0 10 VILLAGE OF ST. ANTHONY, MINNESOTA Budget estimates Actual Transfers from other funds Water Operating Fund $ 3,000 $ 3,000 Sewer Operating Fund 2,000 2,000 Municipal Liquor Fund 275,000 289,817 Total transfers $ 280,000 $ 294,817 Total budgeted receipts S 747,936 $ 740,793 Investment maturities, at cost 170,000 Total receipts S 910.793 11 VILLAGE OF ST. ANTHONY, MINNESOTA GENERAL FUND STATEMENT OF DISBURSEMENTS - ACTUAL COMPARED WITH BUDGET ESTIMATES YEAR ENDED DECEMBER 31, 1973 Budget estimates Actual General government Mayor and Council Personal services $ 7,042 $ 7,042 Contractual services 825 785 Commodities 60 47 Other charges 90 87 $ 8,017 $ 7,961 Manager Personal services $ 25,560 $ 25,560 Contractual services 1,030 973 Other charges 200 199 $ 26,790 $ 26,732 Municipal court Personal services $ 5,890 $ 5,393 Contractual services 350 160 $ 6,240 $ 5,553 Elections Personal services $ 420 $ 416 Contractual services 200 200 Commodities 150 130 Other charges 50 25 $ 820 $ 771 Assessing Personal services $ 5,920 $ 5,919 Contractual services 385 331 Commodities 310 223 Other charges 30 25 $ 6,645 $ 6,498 Accounting - Finance L Personal services $ 14,175 $ 14,141 Contractual services 2,395 2,364 Commodities 3,225 3,213 Other charges 3,640 3,640 - $ 23,435 $ 23,358 Independent accounting and audit - Personal services $ 2,300 $ 2,300 L. Legal - Personal services $ 16,600 $ 16,504 L 12 VILLAGE OF ST, ANTHONY, MINNESOTA Budget estimates Actual General government (continued) Planning and zoning Personal services $ 200 $ 160 Contractual services 85 80 Commodities 25 20 Other charges 40 10 $ 350 $ 270 General government buildings Personal services $ 4,200 $ 4,200 Contractual services 13,490 12,513 Commodities 400 393 Other charges 520 515 Capital outlay 400 382 19,010 $ 18,003 Total general government 110,207 $ 107,950 Public safety Police protection Personal services $ 148,949 $ 148,949 Contractual services 3,336 3,395 Commodities 2,585 2,575 Other charges 160 137 Capital outlay 7,977 7,970 163,007 $ 163,026 Fire protection Personal services $ 139,135 $ 139,097 Contractual services 4,624 4,587 Commodities 2,860 2,845 Other charges 250 250 Capital outlay 150 112 147 019 146,891 Protective inspection Personal services $ 8,000 $ 7,763 Contractual services 264 263 Commodities 45 20 Other charges 80 65 $ 8,389 $ 8,111 Civil defense Personal services $ 1,050 $ 1,028 Contractual services 930 268 Commodities 150 144 Other charges 20 20 Capital outlay 200 160 2,350 $ 1,620 13 VILLAGE OF ST. ANTHONY, MINNESOTA Budget estimates Actual Public safety (continued) Animal control Contractual services $ 1,000 $ 938 Commodities 20 19 $ 1,020 $ 957 Total public safety 321,785 320,605 Highways Engineering - Personal services 2,500 2,400 Street Contractual services $ 91,868 $ 91,853 Commodities 7,850 7,781 Other charges 840 797 Capital outlay 20,467 19,818 121,025 120,249 Maintenance garage Personal services $ 11,655 $ 11,520 Contractual services 2,600 2,588 Commodities 12,780 12,546 27,035 26,654 Street lighting 8,875 $ 8,836 Total highways 159,435 158,139 Sanitation and waste removal Weed inspection Contractual services $ 75 $ 56 Commodities 210 207 285 $ 263 Storm sewer Contractual services $ 1,060 $ 1,059 Commodities 700 651 $ 1,760 1,710 Health Personal services $ 890 $ 881 Commodities 10 900 881 Total sanitation and waste removal $ 2,945 2,854 15 VILLAGE OF ST, ANTHONY, MINNESOTA MVIN)1 9-)YxwDlu_: Budget estimates Actual Park and recreation Personal services $ 46,693 $ 46,142 Contractual services 2,708 2,696 Commodities 5,952 5,732 Other charges 900 547 Capital outlay 11,575 11,103 Total parks and recreation $ 67,828 66,220 Other functions Human relations - Contractual services $ 405 $ 305 Liquor store disbursements - Reimbursed 4,030 Reserve for contingencies 3,440 3,436 Insurance 20,400 20,358 Pensions, contributions and employees insurance 56,725 56,414 Welfare assistance 5,850 5,150 Other 378 Total other functions $ 86,820 $ 90,071 Total budgeted disbursements $ 749,020 $ 745,839 Investment purchases 120,000 Total disbursements $ 865,839 16 VILLAGE OF ST. ANTHONY, MINNESOTA SPECIAL REVENUE FUNDS BALANCE SHEETS - DECEMBER 312 1973 LIABILITIES, RESERVE AND FUND BALANCE Liabilities Accounts payable $ 760 Contracts payable 23,623 Reserve for authorized construction 193,432 Fund balance (deficit) 87,716 Total liabilities, reserve and fund balance$305.531 STATEMENTS OF RECEIPTS AND DISBURSEMENTS Combined ASSETS Cash (deficit) $ 47,231 Petty cash and change funds 25 Investments, at cost 55,000 Accounts receivable 69,132 United States Government 9,577 State of Minnesota 193,432 Accrued interest receivable 266 Total assests 5305.531 LIABILITIES, RESERVE AND FUND BALANCE Liabilities Accounts payable $ 760 Contracts payable 23,623 Reserve for authorized construction 193,432 Fund balance (deficit) 87,716 Total liabilities, reserve and fund balance$305.531 STATEMENTS OF RECEIPTS AND DISBURSEMENTS YEAR ENDED DECEMBER 31, 1973 Cash balance, (deficit) January 1, 1973 $ 51,752 Receipts $102,193 Investment maturities, at cost Revenue from other governmental units 69,132 Interest earned 2,390 Charges for current services 44,261 Total receipts $217,976 Disbursements Investment purchases $145,750 Personal services 45,344 Commodities 8,399 Capital outlay 19,015 Land use study 3,985 4 Publications Total disbursements $222,497 Cash balance (deficit), December 31, 1973 S 47,231 17 State- $ 2,741 17,265 Special Special aid Revenue Fire Police Street Recreation Sharing Department Department Fund Fund Fund Fund Fund $ 16,905 $( 3,824) $ 19,786 $ 10,704 $ 3,660 63,853 25 68,525 22,677 $ 18,660 20,000 20,000 5,000 10,000 $ 45,344 9,577 193,432 3,887 97 97 24 48 $230.434 S( 3.799) LA2,460 L15,728 13,708 $ 760 $ 23,623 193,432 13,379 ( 4,559) 49,460 15,728 13,708 5230.434 S( 3.799) 49 460 15 728 L-13.708 24,564 $ 2,741 17,265 $ 7,414 5,250 $ 55,000 $ 23,000 $ 13,943 $ 10,250 7,575 45,007 8,417 8,133 1,278 518 317 277 $ 44,261 63,853 44,261 68,525 22,677 $ 18,660 $ 67,000 $ 43,000 $ 15,500 $ 20,250 $ 45,344 4,512 3,887 19,015 3,985 4 $ 71,512 45,344 66,004 19,387 $ 20,250 16 O5 J( 3.824) 19.786 L-10, 1_3. 6 6 0 VILLAGE OF ST, ANTHONY, MINNESOTA SPECIAL ASSESSMENT CONSTRUCTION FUNDS BALANCE SHEETS DECEMBER 31, 1973 ASSETS Cash Accounts Receivable Total Assets LIABILITIES, RESERVE AND FUND BALANCE Liabilities Combined $ 190,945 13,553 S 204.498 Accounts payable $ 5,550 Contracts payable 127,969 Reserve for encumbrances 13,500 Fund balance 57,479 Total liabilities, reserve and fund balance S 204.498 STATEMENTS OF RECEIPTS AND DISBURSEMENTS YEAR ENDED DECEMBER 31, 1973 1962 Improvement Fund 19 1973 Improvement Fund $ 190,945 13,553 S 204.498 $ 5,550 127,969 13,500 57,479 49 Cash balance (deficit), January 1, 1973 $( 21,861) $( 10,932) $( 10,929) Receipts Proceeds from sale of bonds $ 661,780 $ 661,780' Interest earned 4,188 4,188, Refunds and reimbursements 26,600 26,600 Special assessments 414 $ 414' Transfers from other Village funds Improvement Bonds of 1973 Fund 224,521 224,521 Improvement Bond Redemption fund 10,518 10,518, Investment maturities, at cost 670,000 670,000 Total receipts $1,598,021 $ 10,932 $1,587,089 Disbursements Construction costs $ 246,603 $ 246,603, Transfers to other Village Funds Improvement Bonds of 1956 Fund 138,430 138,430, Improvement Bonds of 1973 Fund 28,331 28,331 Improvement Bonds of 1960 Series B Fund 170,302 170,302, Improvement Bond Redemption Fund 131,549 131,549• Investments purchased 670,000 670,000 Total disbursements $1,385,215 $1,385,215 Cash balance, December 31, 1973 $ 190.945 $ -0- 1-120.245 M 20 VILLAGE OF ST. ANTHONY, MINNESOTA SPECIAL ASSESSMENT DEBT SERVICE FUNDS BALANCE SHEETS DECEMBER 31, 1973 Total assets 52,691,417 LIABILITY. RESERVE AND FUND BALANCE Liability -bonded indebtedness Bonds and interest due January 1, 1974 $ 219,836 Future maturities - Bonds 1,945,000 Reserve for debt retirement 175,714 Fund balance 350,867 Total liabilities, reserve and fund balance52,691,417 Combined ASSETS Cash (deficit) $ 67,776 Cash with paying agents 219,836 Investments, at cost 674,000 Taxes receivable Unremitted 92 Delinquent 422 Deferred 202,118 Special assessments receivable Delinquent 34,774 Deferred - Principal 919,911 Future 38,175 Accrued interest receivable 3,271 Amount to be provided for debt retirement 531,042 Total assets 52,691,417 LIABILITY. RESERVE AND FUND BALANCE Liability -bonded indebtedness Bonds and interest due January 1, 1974 $ 219,836 Future maturities - Bonds 1,945,000 Reserve for debt retirement 175,714 Fund balance 350,867 Total liabilities, reserve and fund balance52,691,417 21 improvement Improvement Improvement Bonds of Improvement Improvement Bonds of Bonds of 1960 Bonds of Bond 1956 1957 Series B 1973 Redemption $ 6,946 $ (682) $ 83,776 $( 54,312) $ 32,048 101,278 118,558 136,000 181,000 67,500 289,500 92 422 1,700 46,031 154,387 2,541 277 2,828 29,128 21,036 11,320 162,238 88,497 636,820 23,798 14,377 660 879 327 1,405 4,085 526,957 167,183 L-151,0_00 $ 557,497 $ 675,000 $1,276,737 $ 101,278 $ 118,558 $ 45,000 $ 15,000 210,000 $ 675,000 1,000,000 3,600 13,935 158,179 118,583 232,284 $ 167,183 $ 15,000 $ 557,497 $ 675,000 $1,276.737 22 VILLAGE OF ST, ANTHONY, MINNESOTA SPECIAL ASSESSMENT DEBT SERVICE FUNDS STATEMENTS OF RECEIPTS AND DISBURSEMENTS YEAR ENDED DECEMBER 31, 1973 Improvement Bonds of Combined 1956 Cash balance, January 1, 1973 $ 380,087 $ 12,054 Receipts Special assessments $ 368,629 $ 9,628 General property taxes 29,570 Accrued interest on bonds sold 9,078 Interest on investments 27,585 336 Transfers from other funds 506,975 138,430 Investment maturities, at cost 1,106,807 10,800 Total receipts $2,048,644 $ 159,194 Disbursements Retirement of bonds Principal $ 295,000 $ 15,000 Interest 64,600 2,400 Transfers to other funds 273,403 Other disbursements 702 102 Investment purchases 1,727,250 146,800 Total disbursements X2,360,955 $ 164,302 Cash (deficit) balance, December 31, 1973 67.776 S 6.946. r 23 Improvement Improvement Improvement Bonds of Improvement Improvement Bonds of Bonds of 1960 Bonds of Bond 1957 1960 Series B 1973 Redemption $ 6,789 $ 4,169 $ 82,821 $ 35,372 $ 238,882 $ 3,584 $ 509 $ 76,263 $ 101,638 $ 177,007 29,570 9,078 183 230 5,028 9,734 12,074 208,257 28,331 131,957 5,850 8,600 194,500 383,057 504,000 $ 9,617 $ 9,339 $ 484,048 $ 531,838 $ 854,608 $ 10,000 $ 95,000 $ 175,000 1,200 12,355 48,645 $ 408 $ 224,521 48,474 38 238 1 323 5,850 13,100 375,500 397,000 789,000 $ 17,088 $ 13,508 $ 483,093 $ 621,522 $1,061,442 S( 682) S -0- S 83.776 S(54.312) S 32.048 24 VILLAGE OF ST. ANTHONY. MINNESOTA MUNICIPAL LIQUOR FUND BALANCE SHEET DECEMBER 31, 1973 ASSETS CURRENT ASSETS Cash $ 96,313 Petty cash and change funds 72,110 Investments, at cost 100,000 Accrued interest receivable 2,083 Due from General Fund 1,100 Inventories, at lower of cost or market 222,330 Prepaid insurance 11,276 Total current assets 505,212 PROPERTY, PLANT AND EQUIPMENT, at cost Land, building and improvements $ 264,101 Furniture, fixtures and equipment 136,263 $ 400,364 Less accumulated depreciation 203.592 196,772 Total assets O1 984 LIABILITIES AND RETAINED EARNINGS CURRENT LIABILITIES Accounts payable $ 90,197 Accrued liabilities Salaries and wages 7,283 Payroll taxes 959 Sales taxes 9.072 $ 107,511 RETAINED EARNINGS $ 594,473 Total liabilities and retained earnings 01 984 VILLAGE OF ST, ANTHONY, MINNESOTA MUNICIPAL LIQUOR FUND STATEMENT OF INCOME AND RETAINED EARNINGS YEAR ENDED DECEMBER 31, 1973 Sales Cost of sales Gross profit Operating expenses Operating income Other income and expense Interest income Commissions Check cashing income Check cashing expense Miscellaneous income Miscellaneous expense Net income Retained earnings Balance January 1, 1973 Add net income Deduct transfer to General Fund Balance, December 31, 1973 $ 548,710 335,580 ( 289,817) S 594.473 25 Percent Store #1 Store #2 Total of sales $1,058,735 $ 896,299 $1,955,034 100.0 638,947 589,496 1,228,443 62.8 $ 419,788 $ 306,803 $ 726,591 37.2 228,788 188,858 417,646 21.4 $ 191,000 $ 117,945 $ 308,945 15.8 $ 2,422 $ 2,422 $ 4,844 .2 7,423 5,229 12,652 .6 6,716 1,228 7,944 .4 ( 801) ( 449) ( 1,250) ( .1) 604 2,840 3,444 .2 ( 655) ( 344) ( 999) ( .1) $ 15,709 $ 10,926 $ 26,635 1.4 S 206.709 $ 128,871 $ 335,580 17.2 $ 548,710 335,580 ( 289,817) S 594.473 25 26 VILLAGE OF ST. ANTHONY, MINNESOTA MUNICIPAL LIQUOR FUND STATEMENT OF CHANGES IN FINANCIAL POSITION YEAR ENDED DECEMBER 31, 1973 SOURCES OF WORKING CAPITAL Operations Net income $ 335,580 Charges not affecting working capital Depreciation 15,447 $ 351,027 USES OF WORKING CAPITAL Additions to property, plant and equipment, net $ 2,835 Transfer to General Fund 289,817 292,652 INCREASE (DECREASE) IN WORKING CAPITAL $ 58,375 INCREASE (DECREASE) IN ELEMENTS OF WORKING CAPITAL Cash $( 9,631) petty cash and change funds 14,000 Investments 50,000 Accrued interest 1,093 Due from General Fund 1,100 Inventories 25,296 Prepaid insurance 915 Accounts payable ( 29,426) Accrued liabilities 3,528 Due to General Fund 1,500 INCREASE (DECREASE) IN WORKING CAPITAL $ 58,375 VILLAGE OF ST. ANTHONY, MINNESOTA MUNICIPAL LIQUOR FUND STATEMENT OF OPERATING EXPENSES YEAR ENDED DECEMBER 31, 1973 Service expense Total operating expense L - $ 5,548 5 u60 $ 11,228 $228,788 $188,858 417 646 27 Store #1 Store #2 Total Bar Wages $ 81,134 $ 53,000 $134,134 Off sale wages 40,126 40,927 81,053 Custodians' Wages 9,786 4,813 14,599 Managers' salaries 13,203 13,203 26,406 Bookkeepers' salaries 8,559 8,559 17,118 Medical - Life insurance 3,518 2,579 6,097 Pension contribution 15,613 10,417 26,030 Payroll expense $171,939 $133,498 $305,437 Laundry $ 3,028 $ 1,678 $ 4,706 Bar supplies 3,778 1,786 5,564 Off sale supplies 2,482 2,527 5,009 Cleaning supplies 1,207 534 1,741 Office expense 485 482 967 Travel 794 790 1,584 Supplies expense 11,774 7,797 19,571 Rent $ 16,975 $ 16,975 Heat and fuel $ 823 869 1,692 Utilities 6,669 4,322 10,991 Telephone 539 597 1,136 Sanitation expense 636 615 1,251 Casualty and liability insurance 14,752 11,975 26,727 Repairs and maintenance 4,636 2,555 7,191 Depreciation 11,472 3,975 15,447 Occupancy expense 39,527 $ 41,883 81,410 Security service $ 1,003 $ 1,014 $ 2,017 Advertising 341 346 687 Accounting, legal and licenses 4,204 4,058 8,262 Music service 262 262 Service expense Total operating expense L - $ 5,548 5 u60 $ 11,228 $228,788 $188,858 417 646 27 W VILLAGE OF ST. ANTHONY, MINNESOTA PUBLIC UTILITY FUNDS BALANCE SHEETS DECEMBER 31, 1973 Water Operating funds Construction Combined Water Sewer Fund ASSETS CURRENT ASSETS Cash $ 131,320 $ 100,386 $ 30,934 Current portion of long-term receivable 5,262 5,262 Investments 121,000 101,000 20,000 Accounts receivable 62,127 35,364 26,763 Accrued interest receivable 591 494 97 Prepaid insurance 705 520 185 Inventories 1.010 1.010 Restricted assets Cash 10,327 9,226 $ 1,101 Cash with paying agent 22,690 22,690 Investments 60,000 15,000 45,000 Accrued interest receivable 290 72 218 Total current assets $ 415,322 $ 285,762 $ 83,241 $ 46,319 PROPERTY, PLANT AND EQUIPMENT Land $ 9,826 $ 6,181 $ 3,645 Distribution and collection system 2,269,409 1,306,454 962,955 Building and structures 649,642 649,642 Machinery and equipment 103,541 70,545 32,996 $3,032,418 $2,032,822 $ 999,596 Less accumulated depreciation 1,111,758 782,909 328,849 Total property, plant, equipment Si1,920,660 $1,249,913 $ 670,747 LONG-TERM RECEIVABLE Metropolitan Sewer Board $ 139,377 $ 139,377 Less current portion included above 5,262 5,262 134,115 $ 134,115 Total assets 52.470.097 $1.535.675 S 888.103 1_460212 Operating funds Combined Water Sewer LIABILITIES, RESERVES AND RETAINED EARNINGS CURRENT LIABILITIES Current portion of long-term debt $ 45,000 $ 45,000 Accounts payable 3,585 3,004 $ 581 Bonds and interest due January 1,1974 22,690 22,690 Accrued liabilities Payroll and payroll taxes 1,232 968 264 Interest 1,300 1,300 Due to Metropolitan Sewer Board 5,479 5,479 Due to General Fund 2,600 1,300 1,300 Total current liabilities $ 81,886 $ 74,262 $ 7,624 LONG-TERM DEBT Water revenue bonds Less current portion included above Total long-term debt METER DEPOSITS Total liabilities RESERVE FOR Debt retirement Construction Metropolitan Sewer Board - Current value credit Total reserves RETAINED EARNINGS Total liabilities, reserves and retained earnings $ 265,000 45.000 $ 220,000 $ 33,083 $ 334,969 $ 24,226 46,319 $ 265,000 45,000 $ 220,000 $ 33,083 $ 327,345 $ 24,226 $ 7,624 29 Water Construction Fund $ 46,319 139,377 $ 139,377 $ 209,922 $ 24,226 $ 139,377 $ 46,319 $1,925,206 $1,184,104 $ 741,102 $2,470,097 51,535,675 $ 888,103 S 46,319 30 VILLAGE OF ST. ANTHONY, MINNESOTA UTILITY OPERATING FUNDS STATEMENTS OF INCOME AND RETAINED EARNINGS YEAR ENDED DECEMBER 31, 1973 Operating Revenue Water sales Sewer charges Connection charges Other Total operating revenue Operating expenses Disposal charges Personal services Contractual services Commodities Other charges Depreciation Total operating expenses Operating income (loss) Other income and expense Interest income Sale of Scrap Interest expense Metropolitan Sewer Board adjustment of 1972 charges Total other income and expenses Net income (loss) Retained earnings, January 1, 1973 Increase in Reserve for Debt Retirement Transfer to General Fund Retained earnings, December 31, 1973 Combined Water Sewer $ 141,400 $ 141,400 106,425 $ 106,425 5,480 5,480 4,917 4,277 640 $ 258,222 $ 151,157 $ 107,065 $ 70,566 $ 70,566 46,800 $ 33,481 13,319 23,274 19,751 3,523 8,053 6,820 1,233 6,421 4,093 2,328 83,156 62,151 21,005 $ 238,270 $ 126,296 $ 111,974 $ 19,952 $ 24,861 $( 4,909) $ 16,675 $ 11,548. $ 5,127 321 321 ( 11,592) ( 11,580)- ( 12) ( 3,128) ( 3,128) $ 2,276 $ 289 $ 1,987 $ 22,228 $ 25,150 $( 2,922)\/ 1,908,802 1,162,778 746,024 ( 824) ( 824) ( 5,000) ( 3,000) ( 2,000) $1.925.206 ,51.184.104 S 741.102 r VILLAGE OF ST. ANTHONY, MINNESOTA UTILITY OPERATING FUNDS STATEMENTS OF CHANGES IN FINANCIAL POSITION YEAR ENDED DECEMBER 31, 1973 SOURCES OF WORKING CAPITAL Operations Net income (loss) Charges not affecting working capital Depreciation Increase in meter deposits Reduction of long-term receivable USES OF WORKING CAPITAL Additions to property, plant and equipment Reduction of long-term debt Transfer to General Fund Reduction of Reserve for Metropolitan Sewer Board - Current value credit INCREASE IN WORKING CAPITAL VARIOUS ELEMENTS OF NET INCREASE IN WORKING CAPITAL Cash Investments Cash with paying agent Accounts receivable Accrued interest receivable Prepaid insurance Inventories Accounts payable Bonds and interest payable Accrued payables Due to Metropolitan Sewer Board Due to General Fund INCREASE IN WORKING CAPITAL Combined Water Sewer $ 22,228 $ 25,150 $( 2,922) 83,156 62,151 21,005 $105,384 $ 87,301 $ 18,083 2,853 2,853 5,262 5,262 $113,499 9 0,154 $ 23,345 $ 25,252 $ 24,646 ti $ 606 45,000 45,000 5,000 3,000 2,000 5,262 5,262 80,514 $ 72,646 $ 7,868 $ 32.985 17,508 15 477 $ 28,909 $ 19,960 $ 8,949 7,000 ( 3,000) 10,000 ( 390) ( 390) 3,079 2,739 340 ( 573) ( 574) 1 ( 89) 28 ( 117) ( 546) ( 546) ( 1,483) ( 1,127) ( 356) 390 390 553 578 ( 25) ( 2,765) ( 2,765) 1,100) ( 550) 550) 32,985 17,508 S 15.477 31 32 VILLAGE OF ST. ANTHONY, MINNESOTA WATER CONSTRUCTION FUND STATEMENT OF RECEIPTS AND DISBURSEMENTS YEAR ENDED DECEMBER 31, 1973 Cash balance, January 1, 1973 2,134 Receipts Interest on investments $ 2,967 Investments sold, at cost 129,700 Total $132,667 Disbursements - Investment purchases $133,700 Cash balance, December 31, 1973 1--L .101 33 VILLAGE OF ST, ANTHONY, MINNESOTA STATEMENT OF CASH INVESTMENTS AND SECURITY FOR DEPOSITS DECEMBER 31, 1973 Face amount of securities Pledged Cash Investments as collateral Cash State Bank of St. Anthony Village, St. Anthony, Minnesota General Fund checking account $608,230 Liquor Fund checking account 96,313 Savings certificates $ 100,000 JaZ6,000 Central Northwestern National Bank, Minneapolis, Minnesota Savings certificates Total cash 910,000500 000 $704.543 $1,010.000 Additional security of $20,000 is provided by the Federal Deposit Insurance Corporation. Note - Minnesota Statutes require a depository to pledge sufficient collateral to cover funds on deposit. The amount pledged by Central Northwestern National Bank was short of this requirement at December 31, 1973. Municipal Liquor Fund Public utility funds Operating funds Water Sewer Water Construction Fund Total W 105,944 1,973,194 1,982,825 96,313 89,652 SUMMARY STATEMENT OF RECEIPTS AND DISBURSEMENTS 21,985 175,773 166,824 ALL FUNDS 2,134 132,667 133,700 1,101 S 745,370 YEAR ENDED DECEMBER 31, 1973 57D4.543 Cash Cash balance balance January 1, December 31, 1973 Receipts Disbursements 1973 Fund General Fund $ 115,677 $ 910,793 $ 865,839 $160,631 Special revenue funds 51,752 217,976 222,497 47,231 Special assessment funds Construction funds ( 21,861) 1,598,021 1,385,215 190,945 Debt service funds 380,087 2,048,644 2,360,955 67,776 Municipal Liquor Fund Public utility funds Operating funds Water Sewer Water Construction Fund Total W 105,944 1,973,194 1,982,825 96,313 89,652 684,452 664,492 109,612 21,985 175,773 166,824 30,934 2,134 132,667 133,700 1,101 S 745,370 57.741.520 57.782.347 57D4.543 34 VILLAGE OF ST. ANTHONY, MINNESOTA BONDS PAYABLE - ALL FUNDS DECEMBER 31, 1973 Issue Interest Maturity date rate date Principal Special Assessment Debt Service Funds Improvement Bonds of 1956 Series A $10,000 per year 8/1/56 4.007. 8/1/74-76 $ 30,000 Series B $ 5,000 per year 8/1/56 4.00 8/1/74-76 15,000 Total Improvement Bonds of 1956 $ 45,000 Improvement Bonds of 1957 $ 5,000 per year 10/1/57 4.80 10/1/74-76 $ 15,000 Improvement Bonds of 1960 Series B -I $75,000 per year 11/1/60 4.10 1/1/75-76 $ 150,000 Series B -II $15,000 per year 11/1/61 4.00 1/1/75-77 45,000 Series B -III $ 5,000 per year 10/1/62 3.70 1/1/75-77 15,000 Total Improvement Bonds of 1960, Series B $ 210,000 I.mprovement Bonds of 1973 March 1, 1976 6/1/73 4.05 3/1/76 $ 65,000 March 1, 1977 4.10 3/1/77 65,000 March 1, 1978 4.15 3/1/78 65,000 March 1, 1979 4.20 3/1/79 65,000 March 1, 1980 4.15 3/1/80 65,000 March 1, 1981 4.30 3/1/81 65,000 March 1, 1982 4.35 3/1/82 65,000 March 1, 1983 4.40 3/1/83 65,000 March 1, 1984 4.45 3/1/84 65,000 March 1, 1985 4.50 3/1/85 90,000 Total Improvement Bonds of 1973 $ 675,000 Improvement Bond Redemption Fund Improvement Bonds of 1961 $20,000 per year 10/1/61 4.00 1/1/75-77 $ 60,000 Improvement Bonds of 1962 $10,000 per year 10/1/62 3.70 1/1/75-78 $ 40,000 Improvement Bonds of 1963 January 1, 1975 7/1/63 3.40 1/1/75 $ 60,000 January 1, 1976 3.40 1/1/76 40,000 $20,000 per year 3.50 1/1/77-80 80,000 $ 180,000 VILLAGE OF ST. ANTHONY. MINNESOTA BONDS PAYABLE - ALL FUNDS (CONTINUED) DECEMBER 31, 1973 Total Improvement Bond Redemption Fund Total special assessment debt service funds Water Revenue Bonds General Obligation Waterworks Bonds of 1961 $20,000 per year $25,000 per year Water Utility Revenue Bonds of 1963 $25,000 per year $25,000 per year Total water revenue bonds Total bonds payable - All funds 1/1/62 10/1/63 Interest Maturity rate date 4.30% 4.30 4.60 4.60 4.70 4.80 4.90 1/1/75-77 1/1/78 1/1/79 1/1/80-82 1/1/83-84 1/1/85-86 1/1/87-90 4.00 1/1/75-76 4.00 Issue 3.40 10/1/74-75 3.50 date Improvement Bond Redemption Fund (Continued) Improvement Bonds of 1968 $60,000 per year 10/1/68 January 1, 1978 January 1, 1979 $40,000 per year $40,000 per year $40,000 per year $40,000 per year Total Improvement Bond Redemption Fund Total special assessment debt service funds Water Revenue Bonds General Obligation Waterworks Bonds of 1961 $20,000 per year $25,000 per year Water Utility Revenue Bonds of 1963 $25,000 per year $25,000 per year Total water revenue bonds Total bonds payable - All funds 1/1/62 10/1/63 Interest Maturity rate date 4.30% 4.30 4.60 4.60 4.70 4.80 4.90 1/1/75-77 1/1/78 1/1/79 1/1/80-82 1/1/83-84 1/1/85-86 1/1/87-90 4.00 1/1/75-76 4.00 1/1/77-79 3.40 10/1/74-75 3.50 10/1/76-79 Note - January 1, 1974 maturities are considered matured December 31, 1973. 35 Principal $ 180,000 50,000 50,000 120,000 80,000 80,000 160,000 $ 720,000 $1,000,000 $1,945,000 $ 40,000 75,000 $ 115,000 $ 50,000 100.000 $ 150,000 $ 265,000 52.210.000 9 VILLAGE OF ST, ANTHONY, MINNESOTA DEBT SERVICE REQUIREMENTS ALL FUNDS DECEMBER 31, 1973 Note - January 1, maturities are considered matured December 31, of the preceding year. Special assessment bonds Water revenue Bonds Total Year Principal Interest Total Principal Interest 1974 $ 265,000 $ 89,355 $ 354,355 $ 45,000 $ 9,800 $ 54,800 53,150 1975 245,000 71,977 316,977 276,191 45,000 50,000 8,150 6,500 56,500 1976 215,000 145,000 61,191 52,478 197,478 50,000 4,625 54,625 1977 1978 135,000 46,576 181,576 50,000 2,750 52,750 25,875 1979 125,000 40,862 165,862 25,000 875 1980 105,000 35,927 140,927 1981 105,000 31,308 136,308 1982 105,000 26,656 131,656 1983 105,000 21,933 126,933 1984 105,000 17,176 122,176 1985 130,000 11,785 141,785 1986 40,000 7,840 47,840 1987 40,000 5,880 45,880 1988 40,000 3,920 43,920 1989 40,000 1,960 412960 $1.945.000 5526.824 $2,471,824 5265.000 $32,700 5297.700 Note - January 1, maturities are considered matured December 31, of the preceding year. VILLAGE OF ST, ANTHONY, MINNESOTA INSURANCE COVERAGE DECEMBER 31, 1973 Major insurance coverage at December 31, 1973 is summarized below Fire and extended coverage Buildings and contents (90% Co-insurance) Neon sign Equipment floater Voting machines Loss of earnings - Liquor stores Store #1 (80% Co-insurance) Store #2 (80% Co-insurance) Boiler and machinery General liability Bodily injury Property damage Automobile liability Bodily injury Property damage Liquor liability Comprehensive catastrophy Employee liability - Each occurrence Money and securities Liquor Store #1 Liquor Store #2 Village Office - Inside or outside premises Police professional liability Workmen's compensation Harry Lekson Carol Johnson EMPLOYEE'S SURETY BONDS DECEMBER 31, 1973 Assessor Clerk -Treasurer $ 1,407,870 8,000 106,675 24,000 360,000 300,000 100,000 100/300,000 300,000 100/300,000 300,000 300/300,000 1,000,000 100,000 45,000 Inside 30,000 Outside 25,000 Inside 20,000 Outside 2,000 50/100/300,000 Statutory $ 500 All employees are covered by an honesty blanket position bond of $100,000, 100,000 37 VILLAGE OF ST, ANTHONY, MINNESOTA ASSESSED VALUATIONS, TAX LEVIES AND MILL RATES (Shown by year of tax collectibility) Assessed valuations Tax levies General Fund Bonds and interest Total Mill rates General Fund Bonds and interest Total $9,656,371 $10,101.059 $33,370.218 $33,918.351 $ 213,406 $ 183,272 $ 212,816 $ 274,230 29,162 30,000 29,451 25,032 $ 242,568 $ 21 272 1_2L2 ,267 $ 299.262 22.100 18.144 6.377 8.085 3.019 2,970 .883 .738 25.119 21,114 7 260 $,823 39 Note - The 1971 Minnesota State Legislature exempted from assessment most personal property not previously exempted. The Legislature also set market value as the basis for the assessment of real property. The effect is an increase in the assessed value of real property and a reduction in the mill rate.