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Home My WebLink About1974 CAFRCITY OF ST_, ANTHONY, MI\T�ESOTA FINANCIAL STATEMENTS DECEMER 31, 1974 L 0 CITY OF ST. ANTHONY, MINNESOTA ELECTED AND APPOINTED OFFICIALS DECEMBER 31, 1974 Elected Term of office expires on the first official business day of January Mayor - Duane R. Miedtke 1976 Council Sally Haik 1976 William Sauer 1976 Donna Stauffer 1978 Robert J. Sundland 1978 Appoint -ed +tanager -- Jerry L. Duigar Clerk - Treasurer - Carol B. Johnson Assessor - Harry C. Lekson r CITY OF ST. ANTHONY, MINNESOTA TABLE OF CONTENTS Page Comments I Accountants' opinion I General Fund Balance sheet 3 Statement of changes in fund balance 3 Statement of receipts - Actual compared with budget estimates 4 Statement of disbursements - Actual compared with budget estimates 6 Special revenue funds Balance sheets 10 Statements of revenue, expenditures and fund balance 10 Special Assessment Funds Balance sheet 12 Statement of revenue, expenditures and fund balance_ 13 Municipal Liquor Fund Balance sheet 14 Statement of income and retained earnings 15 Statement of changes in financial position 16 Statement of operating expenses 17 Public utility funds Balance sheets 14 Statement of changes in contributions and retained earnings 20 Statements of income and expense 21 Statements of changes in financial position 22 Water Construction Fund - Statement of receipts and disbursements 23 Notes to the Financial Statements 24 Miscellaneous information Balance sheets - All funds 26 Statement of cash investments and security for deposits 29 Summary statement of receipts and disbursements - All funds 29 Bonds payable - All funds 30 Statement of changes in bonded indebtedness 32 Debt service requirements - All funds 3L Assessed valuations, tax levies and mill rates 33 Employees' surety bonds 33 CITY OF ST. ANTHONY, MINNESOTA COMMENTS The City 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 plau, Under this plan, as specified in the Statutes, "The council shall e-erc:ise: ( the legislative power of the City and determine all matters of policy, The City manager shall be the head of the administrative branch of the City goverrar,enc and shall be responsible to the council for the proper administration of all affairs relating to the City." The council is composed of five members, includ- ing the mayor who is chairman. The City manager is appointed by the council, CENERAL 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 $33,486 to $106,700 at December 31, 1974. A condensed summary of receipts and disbursements, excluding investment transactions, is shown below. SPE.(:TAL 3hVE'NDE FUNDS Special revenues funds are established to account for taxes a.nd ocher reve;<ues (except special assessments) set aside for a particular purpose. Following is a brief description of each fund, I 1974 1973 Budget Actual Budget Actual R.EC E LD TS General property taxes $275,716 $266,952 $246,923 $215,185 Licenses and perm4ts 10,000 10,830 9,700 13,301 Fines and forfeitures 10,000 18,042 10,000 12,740 Revenue from use. of money and property 3,000 2,538 3,000 4,206 Intergovernmental revenue 171,134 170,967 173,313 172,290 Other revenue 28,000 39,494 25,000 28,254 Transfers from other funds 296,000 295,000 280,000 294,817 $793,850 $803,823 747 9;f6 $740.793 DISBURSEMENTS General government $124,941 $124,153 $11.0,207 $107,950 Public Safety 357,118 356,745 321,785 320,605 Highways 155,119 154,642 159,435 158,139 Sanitation. and waste removal 2,594 2,223 2,945 2,854 Community services 59,055 57,885 52,438 51,197 Parks maintenance 17,269 16,714 15,390 15,023 Other functions 123,984 105,275 862820 _901,071 $840,080 817 637Si7(+-,020 SPE.(:TAL 3hVE'NDE FUNDS Special revenues funds are established to account for taxes a.nd ocher reve;<ues (except special assessments) set aside for a particular purpose. Following is a brief description of each fund, I SPECIAL REVENUE FUNDS (CONTINUED) State -aid Street Fund - Gasoline tar_ collections apportioned to the City from the State of Minnesota for street maintenance are accounted for in this fund. The account receivable of $255,094, from the State of Minnesota, is the City's unemcumbered construction allotment balance at December 31, 1974. This allotment is available only for approved projects. Recreation Fund - This fund accounts for the City recreation program which is carried on in co-operation with Independent School District No. 282. Ex- penditures of $43,458 exceeded receipts by $2,216 during 1974 and decreased the fund balance to a deficit of $6,776 at December 31, 1974. 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 out- lined in the Act. The City's share of revenue for 1974 was $39,04.5, of which $9,944 will be received during 1975. Expenditures during 1974 were for capital outlay. As of December 31, 1974 $54,000 is available for future expenditures. Special Fire Detment 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 City Fire Department. During 1974, $8,229 was received from the State of Minnesota for 1974 insurance premium taxes. These funds have been appropriated for the purchase of a new fire truck. Spec.al. Police Department Fund - This fund was Established to account for the State of Minnesota 'Town Police Aid reimbursement and other males appropriated for the benefit of the City Police Department. The fund balance was $21,853 at December 31, 1974.. SPECIAL ASSESc AENT UND. Special assessment funds are established to account for assessments levied to finance improvements or services deemed to benefit the properties against which the assessments are levied. Primarily, the transactions accounted for in the special assessment construction accounts are receipt of bond proceed;; for construction work done. Special assessment debt service accounts account mainly for collection of assessments against benefited property owners and disbursements of assessment collections for the payment of bonds and inw re t. MUNICIPAL LIQUOR FUND This fund is maintained to account for the operation of the City -owned liquor stores. Percentages and detailed statements by stores are included in the report as additional aids in reviewing results of operations. Shoran below is a con- densed summary of liquor store operations for 1974, 1973 and 1972. Sales Cost of Sales Gross profit Operating expense Operating income Other income less other expense Net income 1974 1973 ----1972 Percent Percent ---Ferceni- of sales of sales of sz:' $2,0547998 100.0 $1,955,034 100.0 $1,8672888 100.0 11308,.703 63.7 _1,243,947 62.8 1,216,048 65.1. $ 746,295 36.3 $ 711,087 37.2 $ 651,840 3AA; 470,124 _22.9 — 417,646 21_4 417,23L7___ 3 $ 276,171 13.4 $ 293,441 15.8 $ 234,603 12.6 21,_2.90 1.1 2.6,635 1.4__ '_7,185 __9 .$_2 461 _LL—5 1__320.076 17.2 8 251 78 _97 II r r MUNICIPAL LIQUOR FUND (CONTINUED) I Transfers to other funds Equivalent mill rate of. transfers PUBLIC UTILITY FUNDS 1974 1973 1972 Percent Percent Percent of sales of sales of sales 1_2L5,000.66 S 289 817 86.35 $, 300,0`0 119.1_ 29.70 Water Operating Fund - This fund accounts for the operations of the City-ovmed water system. The fund had net income of $64,116 in 1974. Revenues of the fuel are pledged for payment of the Water Revenue Bonds of 1961 and 1963. Sewer Operating Fund - This fund accounts for the operations of the City -owned sewer system. The fund reported a net income of $30,828 for 1974. During 1971, the Metropolitan Waste Control Commission 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 $134,115. A condensed summary of operations for the Water and Sewer Operating Funds for the last three years is presented below: 1974 1973 Water Operating _F: Iyil Operating revenue $157,348 Operating expense (less depreciation) 68,434 Other income and (expense) 11,715 Income before depreciation $100,629 Depreciation 36,513 Net income i. 64. 7.16 Sewer Or:Lind Operating revenue Operating expense Other income and $151,157 64,145 289 $ 87,301 36.096 S .575205 $108,701 $707,065 (less depreciation), 102,109 90,969 (expense) 27,322 1,987 ncc:ebefore depreciation Dapreci ation. Net income $ 33,914 3,036 $ 18,083 2,231 15 852 1972 $144,573 1-1,922 __�_3�095) $ 69,556 32,583 $_ 36 97. $104,992 85,310 2,385) 1.7,297 3 ,1- 24_ 7_.r0 Operating expenses for 1974 incl.iida disl;osal charges of $80,083 as compared $70,566 and $63,831 in 1973 and 1972 respectively. III WATIR CONSTP.UCTION 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 $51,050 at December 31, 1974 is available for future construction. IV GEORGE M. HANSEN COMPANY Certified Public Accountants SOUTH PLAZA BUILDING MINNEAPOLIS, MINNESOTA 55416 Honorable City Council City of St. Anthony, Minnesota We have examined the financial statements of the various funds of the City of St. Anthony, Minnesota for the year ended December 31, 1974, listed in the foregoing table of contents. Our examination was made in accordance with generally accepted auditing standards, and accordingly included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances. The City has not maintained a record of its general fixed assets, and accordingly a statement of general fixed assets, required by generally accepted accounting principles, is not included in the financial report. In our opinion, the financial statements listed in the aforementioned table of contents present fairly the financial position of such funds of the City of St. Anthony, M-Lnnesota at December 31, 1974 and the results of operations of such .bunds for the year then ended, in conformity with generally accepted acco-unting pri.aciples applied on a basis consistent with that of the preceding year except as noted in footnote 2. :fie accompanying supplemental. schedules and related information presented on pages 25 to 33 are not necessary for a fair presentation of the financial statements, but are presented as additional analytical data. This information has been sub;ected to the tests and other auditing procedures applied in the examination of the financial statements mentioned above and, in our opinion, is fairly stated in all material respects in relation to the financial state- ments taken as a whole. May 1, 1975 F L CITY OF ST, ANlliONY, MIiyNESOTA GENERAL FUND BALANCE SlUQET DECEMBER 31, 19T ASSETS Cash $106,817 Investments 40,000 Petty cash and change funds 100 Accounts receivable 6,194 Accrued interest receivable 47 Due from public utility funds 4,200 Delinquent taxes receivable 14,616 Total assets $177-,974 LIABILITIES, RESERVE AND FUND BALANCE Liabilities Accounts payable $ 28,198 Accrued liabilities 15,120 Due to Municipal Liquor Fund 1,146 Reserve for unrealized revenue 20,810 Fund balance Appropr iatefi 16,494 Unappropriated 90, 206 Total :liabilities, reserve and fund balance js171,974 STATEmm of CHANGES IN FUND BALANCE YEAR ENDED DECEMBER 31, 1974+ See accompanying notes to financial statements. 3 Budget estimate � Actual Fund balance January 1, 1974 before adjustment $14.0,186 Adjustment to restate January 1, 1974 fund balance on the modified accrual basis _.l _> 2062 Fund balance January 1, 1974 after adjustment $125,980 025,980 Receipts and disbursement; excludint investment transactions Receipts 793,S50 r'. O3 Disbursameats ,.. (8:15,080) ,,8_3 (817,63y) increase in liabilities ( 7,111) increase in accounts receivable Fuad balance December 31, 1974 Sl_C4.�7�0 S106 7i`_) See accompanying notes to financial statements. 3 4 CITY OF ST. ANTHONY, MINNESOTA qtr♦.� - a�i,lun,. ENDED DECEMBER General property taxes Taxes State property tax relief fund Homestead tax aid Personal property replacement Penalties and interest on taxes Licenses and permits Licenses Permits Fines, forfeitures and penalties Revenue from use of money and property - Inte:rest i' rergovernu,e:;tal revenue Local government aid Cigarette and liquor tales Attached Mortgage registry Baal: excise Mobile home. registration County street allotments Other revenue Charges for current services Sale of equi_pmont and unclaimed property Refunds and reimbursements Independent School District No. 282 Municipal Liquor Fund Special Assessment Fund State of Minnesota insurance claims and refunds Other Permit surcharge See accompanying notes to financial statements. BUDGET ESTIMATES 17,382 8,097 4,916 5,585 2,034 6,410 2,143 913 6,878 3,757 1. 531 1$_28,000 38,77'2 $-21;7'37 $ 722 $ 547 1974 1973 Budget Actual Actual $215,414 $173,453 48,427 34,543 4,441 1274,216 _ $263,841 $212.,437 1,500 3011 2.7748 1275,716 $266 2952 1215,10 $ 6,000 5,974 $ 6,416 4,000 4,856 6,885 1-10,000 1_10,830 _ 1$_13,301 1_10,000 P_18,042 1 12,740 3,000 2,:,38 $ u206 5167,734 1167,734 $131,143 34,478 554 840 2,038 10 128 800 1,200 1,848 2000 _ 629 21655 1171,134 1170,967 1172,290 $ 2,655 $ 1,094 705 2,379 17,382 8,097 4,916 5,585 2,034 6,410 2,143 913 6,878 3,757 1. 531 1$_28,000 38,77'2 $-21;7'37 $ 722 $ 547 5 CITY OF ST, ANTHONY, MINNESOTA GENERAL FUND See accompanying notes to finan.:ial statements. 1974 1973 Budget Actual Actual Transfers from other funds Pater Operating Fund $ 3,000 $ 3,000 $ 3,000 Sewer Operating Fund 3,000 2,000 2,000 Municipal Liquor Fund 275,000 275,000 289,817 Revenue Sharing Fund _15,000 _151000 $296,000 $295,000 $294,817 Total budgeted receipts 93,850 $803,823 $740,793 Investment maturities, at cost 143,000 1.70 000 Total receipts X946.823 L910y��9 See accompanying notes to finan.:ial statements. I CITY OF ST. ANTHONY, MINNESOTA GENERAL FUND - ACTUAL COM7 1 BUDGET E Manager Personal services 1974 $ 29,148 1973 25,560 Budget Actual Actual General government 973 Other charges 210 Mayor and Council 372 199 372 Personal services $ 7,080 $ 7,080 $ 7,042 Contractual services 880 875 785 Commodities 60 56 47 Other charges 45 43 87 274 $ 8,065 $ S,Oi�+ $ 7,96]. Manager Personal services $ 29,150 $ 29,148 $ 25,560 Contractual services 1,510 1,502 973 Other charges 210 210 372 199 372 30,870 30 860 $ 26,732 Municipal court 45 25 Personal services $ 13,000 $ 12,974 $ 5,393 Contractual. services _ 285 274 160 $-_13�,2 5 $ 13,248 $ 15,077 Elections 14,141 Contractual services 2,825 personal .,ervir_es $ 1,031 $ 1,031 $ 416 Con".r. cLua, C-1--vicer 26 26 3,213 200 Commodities 52 51 130 Other charges 21 21 25,183 2.5 23,358 $ 1,130 1,129 $ 771 Assessing Personal services $ 6,300 $ 6,300 $ 5,919 Contractual services 609 606 331 Commodities 372 372 223 Other charges 45 45 25 $ 7,32.6 7,3,23 $_ 6,1493 Accounting - Finance Personal services $ 15,170 $ 15,077 $ 14,141 Contractual services 2,825 2,816 2,364 Commodities 3,818 3,805 3,213 Other charges 3,490 3,485 3,640 $ 25,303 _ $ 25,183 $ 23,358 Independent accounting and audit Personal services $ 4,,750 aS 4,750 $ 2,3U0 Legal - Personal services 14,266 13,728 $ 16,504 See accompanying notes to financial statements. fl CITY OF ST. ANTHONY, MINNESOTA rGENERAL FUND STATEMENT OF DISBURSEMENTS - ACTUAL COMPARED WITH BUDG; AND YEARS ENDED DECEMBER 31, 1974 A r - _ 1974 197 3 Budget Actual Act;ial General government (Continued) Personal services $ 175,300 $ Planning and zoning $ 148,949 Contractual services 2,941 Personal services $ 236 $ 236 $ 160 I I Contractual services 70 2,736 68 2,575 80 Commodities 25 18 20 Other charges 4,225 4,218 10 7,970 $ 331 $ 322 $ 270 General government buildings 1.63,026 Fire protection f Personal services $ 4,500 $ 4,500 $ 4,200 Contractual services 13,329 $ 13,279 Contractual services 12,513 Commodities 350 2,493 343 4,587 393 Other charges 600 600 515 Capital outlay 836 318 834 313 382 250 $ 19,615 $ 19,556 _ $ 18,003 Total general government $ 124,941 $ 122153 $ 1.07,950 Public safety Police protection Personal services $ 175,300 $ 175,142 $ 148,949 Contractual services 2,941 2,91.4 3,395 Commodities 2,740 2,736 2,575 Other charges 168 165 137 Capital outlay 4,225 4,218 7,970 $ 185,374 $ 185,175 $ 1.63,026 Fire protection Personal services $ 148,341 $ 148,236 $ 139,097 Contractual services 2,503 2,493 4,587 Commodities 5,515 5,497 2,845 Other charges 318 313 250 Capital outlay 239 237 112 •- $ 156,916 1% 156,776 $ 146�g91 Protective inspection Personal services $ 6,925 $ 6,925 $ 71763 Contractual services 282 280 263 Commodities 20 Other charges L 110 1110 65 $ 7,317 $ 7,315 $ ,8,111 See accompanying notes to financial statements. L 7 I CITY OF ST. ANTHONY, MINNESOTA GENERAL FUND STATEMENT OF DISBURSEMENTS - ACTUAL COMPARED WITH BUDGET ESTIIr!ATES (CONTINUED) YEAR ENDED DECEMBER 31, 1974 AND 1973 $ 1,158 $ 1974 Commodities 1973 Commodities Budget Actual Actual Public safety (Continued) $ 1,210 $ 1,178 Civil defense 957 Total public safety $ 357,118 Personal services $ 2,884 $ 2,884 $ 1,028 Contractual services 1,934 1,934 268 Commodities 169 169 144 Other charges 20 20 20 Capital outlay 1,294 1294 _160 $ 6,301 $ 6,301 $ 1,620 Animal control Contractual services $ 1,190 $ 1,158 $ 938 Commodities 20 Commodities 20 8,012 19 Other charges $ 1,210 $ 1,178 $ 957 Total public safety $ 357,118 $ 356,745 $ 3205. Highways Street lighting "0,400 $_ 10,393 $ Engineering - Personal services S 2.2500$__ Totalhighways 2,497 $ _ 2,400 Street Personal services $ 92,8 0 $ 92.,880 $ 8S,32S Contractual cervices 3,697 3,684 3,525 Commodities 8,0.62 8,012 7,7'I. Other charges 426 426 797 Capital outlay 6,640 6,640 19,818 111,705 Y 111,642. $ 120,249 Maintenance garage Personal services $ 13,050 $ 13,019 $ 11,520 Contractual services 3,008 2,985 2,588 Commodities 14,405 14.,055 12,546 Capital outlay 51 .51. _ 30,514`30, 7.10 $ ,26�F54 Street lighting "0,400 $_ 10,393 $ -818-36- 3836Total Totalhighways $ 155,119 $ 154,642 1_158,l39 Sanitation and waste removal Weed inspection Contractual services $ 75 $ 56 Commodities 27:5 $ 4 207 $ 350 $ 4 $ 263 Storm sewer Contractual services $ 1,090 $ 1,089 $ 1,059 Commodities 50 26 _ _ 651. $ 1,140 $ 1,115 $ 1_,710 See accompanying notes to financial statements. CITY OF ST, ANTHONY, MINNESOTA Sani.tation and waste removal (Continued) H:�alth Personal services Total sanitation and waste removal Community services Personal services Contractual services Commodities Other charges Capital outlay Total community services Parks - Maintenance Personal services Commodities Other charges Capital o"ilay Total park: - maintenance Other functions Human relations Liquor store disbursements - Reimbursed Contingencies Insurance Pensions, contributions and employees insurance Welfare assistance Other Total other functions Total budgeted disbursements Investment purchases Total disbursements See accompanying notes to financial statements. 1974 _ Budget Actual $ 1,104 $ 1,104 _ 2,594 3 ___2_,223 $ 39,650 2,897 3,057 600 12,851 $ 59,055 $ 11,378 2,615 76 3.200 $ 1.7,269 $ 2,100 5,600 21,684 69,600 98,984 S 815.080 $ 38,524 2,870 3,050 590 12,851 $ 57,885 $ 10,843 2,595 76 3.200 $ 16,714 $ 2,089 5,464 5,589 21,681 69,550 902 $ 105,275 $ 817,637 1.83,000 IL,Q-O() 637 1973 Actoal $ 881 2,854 $ 37,359 2,696 3,068 412_ 7.662 $ 51,197 $ 8,783 2,664 135 $15,023 $ 305 4,030 3,436 20,358 56,4.14 5,150 378 90,071 $ 745,839 120,000 _ 865.839 9 10 CITY OF ST. ANTHONY, MINiVESOTA SPECIAL REVENUE FUNDS BALANCE SHEETS - DECEMBER 31, 1974 Combined ASSETS Cash (deficit) $ 9,143 Petty cash and change funds 25 Investments 111,900 Accounts receivable United States Government 9,944 State of Minnesota 255,094 Accrued interest receivable 131 Total assets _386,237 LIABILITY AND FUND BALANCE Liability - Accounts payable $ 560 Fund balance (deficit) Appropriated 74,305 Unappropriated _3.11. Total liability anal .=Fund balruice q6-Z2°i7 STATEMENTS OF REVENUE, EXPENDITI7RES AND FUND BALANCE YEAR ENDED DECEMBER 31, 1974 Revenue Revenue from other governmental units $123,794 Interest earned 10,029 Charges for current services 47.,242 Other 21_ Total revenue $17.'3,086 Expenditures Recreational services $ 43,458 Commodities 4,909 Capital outlay 7,188 Transfer to General Fund 15,000 Total expenditures $ 70,555 Revenue over (under) expenditures $104,531 Fund balance January 1, 1974 281,146 Fund balance December 31, 1974 : 385 6,77 See accompanying notes to financial. statements. $ 69,237 $ Special Special State -aid 3,088 Revenue Fire Police Street Recreation Sharing Department Depo.rtmeMt _ Fund Fund Fund Fund Fund $; 290) $( 6,241) $ 485 $ 8,343 $ 6,86 $ 43,458 25 19,400 60,500 17,000 15,000 9,944 $ 6,693 255,094 $ 495 23 --71 20 17 274 227 X6,216) 71 000 25,363 X21,863 $( 2,216) $ 560 21,541 $ 9,635 $ 8,155 $ 15,000 4,560) $ 17,000 $ 42,305 15,72.5 259,227 ( 6,776) 54,000 K16,942) $ 21,863 74 227 �_L.216) 71 00025 363 S�21ti863 $ 69,237 $ 39,045 $ 8,22.9 $ 7,283 3,088 4,189 1,385 1,367 $ 41,242 72,325 41 242 $ 43,234 21 $ 9,635 $ 8,650 $ 43,458 $ 4,909 $ 6,693 $ 495 15,000 $ 4,909 $ 43,458 $ 21,693 $ 67,416 $( 2,216) $ 21,541 $ 9,635 $ 8,155 206,,811 4,560) 49,459 15,72.5 13,708 2.74 227 $( 6,776) 71 000 25.363 L1 SC.,3 12 CITY OF ST, ANTHONY, MINNESOTA SPECIAL ASSESSMENT FUND BALANCE SHEET DECEMBER 31, 1974 ASSETS Cash Cash with paying agents investments Accrued interest receivable Delinquent taxes receivable Special assessments receivable Delinquent Deferred el inciuent- Deferred principal Due from special assessment construction accounts Total assets I_IA.BILITIES AND FUND BALANCE L_ahi3 :it i.es Contracts payable Due to Special Assesrsment. Debt Service accounts Bonds payable Bonds and interest due January 1, 1975 Future bond maturities Fund balance Appropriated Unappropriated Total liabilities and fund balance Construction Debt Service Total accounts accounts $ 269,273 $ 139,052 $ 130,221 209,837 209,837 654,700 654,700 764 764 1,415 1,415 40,209 40,209 1,289,012 1,289,012 92,548 ----92,548 ,52,557,758 $ 139 052 y4870 $ 13,976 92,548 $ 13,976 92,548 209,837 $ 209,837 1,680,000 1,680,000 34,125 34,125 527,272 5_1,597) 528,869 $2 5=,758 V_7.39.052 $2,418.70 Sec accompanying notes to financial statements. r.. 1 CITY OF ST, ANTHONY, MINNESOTA rSPECIAL ASSESSMENT FUND BALANCE Construction Debt Service L_ LSee accompanying notes to financial statements. 13 Total accounts—. accounts Fund balance January 1, 1974 Y 408,346 $ 57,479 $ 3500867 Adjustment to indicate cumulative effect on fund balances at January 1, 1974 of deferred taxes receivable, amounts to be provided for debt retirement, and interfund transactions, is order to restate fund in accordance with generally accepted accounting principles I 5(557,446) 92,548) $(464,898) Fund balance (deficit) January 1, 1974 after adjustment $(149,100 S ,( 35,069) $(114,031) Add Interest on special. assessments $ 60,117 $ 60,117 Increase :in sp!cial assessments 557,846 557,846 Gencral property taxes 25,113 25,7.13 Interest: eerne2 99,996 $ 10,107 89,889 Reduction of prior nears accounts payable 71,521 71,521 fi 814,593 $ 81,628 $ 732,905_ Deduct Improvement costs $ 3,631 $ 3,631 Interest expense 99,755 10,400 $ 89,355 Service charges 691 691 Other 19 19 _ 104,096 $ 14,031 _ $ 90,065 Fund balance December 31, 1974 S 561,397 S_32,52g L 528_869 L_ LSee accompanying notes to financial statements. 13 14 CITY OF ST. ANTHONY, MINNESOTA MUNICIPAL LIQUOR FUND BALANCE SHEET DECEMBER 31, 1974 ASSETS CURRENT ASSETS Cash Petty cash and change funds Due from General Fund Inventories Prepaid insurance Total current assets PROPERTY, PLANT AND EQUIPMENT, at cost Land, building and improvements Furniture, fixtures and equipment Less accumulated depreciation Total asseLs LIABILITIES AND R' TA.1—;EU EARL?INC;S CURRENT LIABILITIES Accounts payable Accrued liabilities Salaries Payroll taxes Sales taxes RETAINED EARNINGS Total liabilities and retained earnings See accompanying notes to financial statements. $ 2.9,116 77,110 1,146 239,500 112657 $ 358,529 $ 424,762 161,303 $ 589,065 __185,60 2 403,403 MW 9 $ 141,583 8,974 1,111 8,834 160,502 $ 601,430 ,____a,9!2 76 LSee accompanying notes to financial statements. 15 CITY OF ST. ANTHONY, MINNESOTA ( MUNICIPAL LIQUOR FUND STATEMENT OF INCOME AND RETAINED EARNINGS r I YEARS ENDED DECEMBER 31, 1974 AND 1973 f 1974 Percent 1973 Store #1 Store X62 Total of sales Total Sales $1,150 031 $ 904,967 $2,054,998 100.0 $1,955,034 Cost of sales 698,847 609,856 1,308,703 63.7 1,243,947 Gross profit $ 451,184 $ 295,111 $ 746,295 36.3 $ 711,087 Operating expenses _ 267,977 202,147 470,124 22_9 _ 417,646 Operating income 6183,207 $ 92,964 $ 276,171 13.4 S 293,441 Other income and expense Interest income $ 2,878 $ 2,878 $ 5,756 .3 $ 4,844 Commissions 7,069 4,565 11,634 .6 12,652 Check cashing income 7,802 1,345 9,147 .5 7,944 Check cashing expense ( 1,208) ( 452) ( 1,660) ( .1) ( 1,250) Miscellaneous income 221 159 380 3,444 Miscellaneois expense ( 3,672) ( 295) ( 3,967) ( .2) 6_ 999) 13,090 $ 8,200 $ 21,293 _1.1 $ 26,635 Net income ^� 196.297 S 101,164 292,461 14.5320,076 Retained earnings Balance, Beginning of year $ 578,969 $ 548,710 Add net income 297,461 320,076 Deduct transfer to General Fund (275,000)(289,817) Balance, End of year 601,430 S 5___.78.969 LSee accompanying notes to financial statements. 15 16 CITY OF ST. ANTHONY, MINNESOTA MUNICIPAL LIQUOR FUND STATEMENT OF CHANGES IN FINANCIAL POSITION YEARS ENDED DECEMBER 31, 1974 AND 1973 SOURCE OF FUNDS Operations Net income for the year Items not requiring current outlay of funds Depreciation Total APPLICATION OF FUNDS Additions to property, plant and equipment, net Transfers to General Fund Increase (decrease) in working capital Total Various elements of net increase vmrking capital. Cash Petty cash and change funds Investments Accrued interest Due from General Fund Inventories Prepaid insurance Accounts payable Accrued liabilities Due to General Fund Total (decrease) in See accompanying notes to financial statements. 1974 1973 $ 297,461 $ 320,076 19,703 15,447 5,_,317.164 S 3 I$ 23 $ 226,334 $ 2,835 275,000 289,817 (7.84,170) 42,871 t__317.164$ 335,523 $( 67,197) $( 9,631) 5,000 14,000 (100,000) 50,000 (_ 2,083) 1,093 46 1,100 32,674 9,792 381 915 ( 51,386) ( 29,426) ( 1,605) 3,528 11500 $(184,170) S 42871 17 CITY OF ST. ANTHONY, MINNESOTA NNNICIPAL LIQUOR FUND STATEMENT OF OPERATING EXPENSES YEAR ENDED DECEMBER 31, 1974 `-. See accompanying notes to financial statements, Store ill Store #2 Total Bar Wages $ 98,376 $ 55,809 $154,185 Off sale gages 45,539 41,384 06,923 Custodians' Wages 13,533 5,538 1 071 Managers' salaries 16,010 16,010 32 020 r Bookkeepers' salaries 10,568 10,568 21,136 Medical - Life insurance 3,712 2,625 6,337 Pension contribution 19,420 12,959 32,37 Payroll expense 207,158 $144,893 $352,051 Laundry $ 3,765 $ 1,936 $ 5,701 Bar supplies 4,346 1,362 5,708 Off sale supplies 3,690 3,505 7,195 Cleaning supplies 1,151 623 1,774 Office expense 653 572 1,225 Travel 1,189 1,184 2,373 Suppli--.s e--,:pense 14,794 9,182 23,976 Rent $ 17,479 $ 17,479 Heat and fur..l $ 1,066 869 1,935 Utilities 6,758 4,442 11,200 Telephone 643 589 1,232 Sanitation expense 671 652 1,323 Casualty and liability insurance 14,782 14,118 28,900 Repairs and maintenance 3,449 3,359 6,808 Depreciation 15,496 4,207 19,703 Occupancy expense I 42,865 $ 45,715 �_88�580 Security service $ 774 $ 852 $ 1,626 Advertising 1,441 304 1,745 Accounting, legal and licenses 945 939 1,884 Music service 262 262 Service expense $ 3,160 2,357 $ 5,517 Total operating expense $267,977 202 14 470-124. `-. See accompanying notes to financial statements, M CITY OF ST. ANTHONY, MINNESOTA PUBLIC UTILITY FUNDS BALANCE SHEETS DECEMBER 31, 1974 ASSETS CURRENT ASSETS Cash (deficit) Current portion of long -germ receivable Investments Accounts receivable Accrued interest receivable Prepaid insurance Inventories Restricted assets Cash Cash with paying agent Investments Accru d Interest receivable Total current. assets PROPE-i-Y, PLANT AND EQUIP iOT Land Distribution and collection systen Building and structures Machinery and equipment Less accumulated depreciation Total property, plant and equipment LONG-TERM RECEIVABLE Metropolitan Sewer Board Less current portion included above To±:al assets Operating funds _ Combined Water Sewer. $( 7,916) $( 15,899) 5,262. 250,000 64,111 291 948 935 200,000 36,491 233 617 935 222 1'31 22,300 22,300 78,400 27,500 91 _ .32 $ 11.14,6=.4 S _?_72,3+0 $ 7,983 5,262 50,000 27,620 58 331 $ 9,826 $ 6,181 $ 3,645 2,340,189 113771234 962,955 649,642 649,642 112.,861 73,893 38,968 $3,112.,518 $2,106,950 $1,005,568 1.194.338 843,629 350,709 $1,918,180 $1,263,321 $ 654,859 $ 153,224 $ 153,2.24 5,262 5,262 $ 147,962 $ 147,962 $2,480,786S1 535,661 $ 894,075 See accompanying notes to financial statements. Water Construction Fund $ 91 50,900 59 S1y05 , CURRENT LIABILITIES Current portion of long-term debt $ 45,000 $ 45,000 Accounts payable 10,002 10,002 Bonds and interest due Januaryl, 1975 22,300 22,300 Accrued liabilities Payroll and payroll taxes 1,92.8 1,434 $ 494 Interest 1,300 1,300 Due to Metropolitan Sewer Board 6,209 6,209 Due to General Fund 4,200 2,100 2,100 Total current liabilities $ 90,939 $ 82,136 $ 8,803 Combined LIABILITIES RESERVES AND RETAINED EARNINGS 19 Water Operating funds _ 'Construction Water. Sewer Fund LONG-TERM DEBT Water revenue bonds $ 220,000 $ 220,000 Less cur:r:ent portion included above 45,000 45,000 Total long-term debt $ 175,000 $ 175,000 :'4:'CF,.R DEPOSITS 35,134 $ 35,134 Total liabilities $ 301,073 $ 292,270 $ 8,803 RESERVE FOR Debt retirement $ 27,631 $ 27,631 Construction 51,050 $ 51,050 Metropolitan Sewer Board - Current value credit 1.34,115 1.34,115 Total reserves $ 212,796 $ 27,631 $ 134,1,551 050 RETAINED EARNINGS 476,731 $ 345,578 $ 131,153 CONTRIBUTIONS IN AID TO CONSTRUCTION $1,490,186 :870,1.82 $ 620,004 Total liabilities, reserves and retained earnings $22,480,786 51,535,661 $ 894,075 $ 51,050 20 CITY OF ST. ANTHONY, MINNESOTA UTILITY OPERATING FUNDS CHANGES IN CONTRIBUTIONS AND RE' YEAR ENDED DECEMBER 11_ lQ7L. Balance January 1, 1974 Prior period adjustment to reflect January 1, 1974 book value of property, plant and equipment and related contribution in aid to construction Income for year Increase ip. reserve for debt retirement Transfer to General Fund Iieprecia.ti.on transferred to contributions in aid to construction Balance December 31, 1974 Water Fund Sesser Fund Retained Retained Earnings Contributions Earnings Contribution- $1,184,104 $ 741,102 (896,237) $ 896,237 64,116 ( 3,405) ( 3,000) (638,777) $ 638,777 30,828 ( 2,0001 ---- - —X2.6,055) __-- --(_18273) $ 345,578 i_370 2 1 1 153 S 620.004 See accompanying notes to financial statements. I CITY OF ST. ANTHONY, MINNESOTA UTILITY OPERATING FUNDS STATEMENTS OF INCOME AND EXTENSE YEARS ENDED DECEMBER 31, 1974 AND 1973 f _ 1974 1973 Water Sewer Combined Combined r Operating Revenue Water sales $151,927 $151,927 $141,400 Sewer charges $108,461 108,461 106,425 Connection charges 1,365 1,365 5,480 Other 4,056 240 4,296 4,917 Total $157,348 J1 08,701 $266,049 $258,222 Operating Expe:es (less depreciation) Disposal charges $ 80,083 $ 80,083 $ 70,566 Personal services $ 32,123 15,076 47,199 46,800 Contractual services 24,428 2,722 27,150 23,274 Commodities i 8,000 1,596 9,596 8,053 Other charges 3,883 2,632 6,515 6,421 Total $ 68,434 $102,109 $170,543 $155,114 Other income and expense Interest income $ 18,622 $ 4,223 $ 22,845 $ 16,675 Miscellaneous income 230 1,421 1,651 321 Interest expense ( 7,137) ( 7,137) (11,592) Metropolitan Waste Control Commission adjustment of prior years charges 12,900 12,900 ( 3,128) Metropolitan Waste Control Commission " Credits _ _ 8,778 8,778 11,715 $ 27,322 39,037 $ 2,276 Income before depreciation $100,629 $ 33,914 $134,543 $105,384 Less depreciation On assets acquired with o -a funds (36,513) ( 3,086) (39,599) (38,328) On assets acquired from contribu- tions in aid to construction 126.,0 (18,773) (44,82_8) (44,828) Net income SS X8.061 12,055 L10,116 $ 22.228 Disposition of income Net income $ 38,061 $ 12,055 $ 50,116 $ 22,228 l l Add credit arising from transfer of depreciation to contributions in aid to construction account 26,055 18,773 44,828 44,828 Income transferred to retained earnings L. 6416 30,828 94 944 LIL 056 See accompanying notes to financial statements. 21 22 CITY OF ST. ANTHONY, MINNESOTA UTILITY OPERATING FUNDS STATEMENT OF CHANGES IN FINANCIAL POSITION YEARS ENDED DECEMBER 31, 1974 AND 1973 APPLICATION OF FUNDS Transfer to General Fund $ 3,000 1974 $ 5,000 1973 5,000 Water Sewer Combined Combined SOURCE OF FUNDS 25,252 Increase in long-term receivable 13,846 Operations Reduction of long-term debt 45,000 Net income $ 64,116 $ 30,828 $ 94,944 $ 67,055 Depreciation 36,513 3,086 39,599 38,328 Increase in meter deposits 2,051 2,051 2,851 Reduction of long-term receivable Cor,tcS.S<:'ion - Current value 5,263 Decrease in working capital 21,296 _ _ 21,296 _ 5,262 $ 123,976 $ 33,914 41157,890 $ 113,499 APPLICATION OF FUNDS Transfer to General Fund $ 3,000 $ 2,000 $ 5,000 $ 5,000 Purchase of property and equipment 7.5,976 5,972 81,948 25,252 Increase in long-term receivable 13,846 13,846 Reduction of long-term debt 45,000 45,000 45,000 Reduction of Reserve for 1• le.t:.-opo:li.tan Waste Control Cor,tcS.S<:'ion - Current value credii 5,267. 5,262 5,262 Increase 5n working capital. _ 6. r, t 6:834_ 32 "85 12_3 y7t _ S 33_914 S 5 ,890 11499 Various elements of net increase (decrease) in working capital Cash $(125,380) $( 22,951) $(148,331) $ 28,909 Investments 111,500 30,000 141,500 7,00(, Cash with paying agent ( 390) ( 390) ( 390` Accounts receivable 1,127 857 1,984 3,079 Accrued interest receivable ( 301) ( 39) ( 340) ( 573;: Prepaid insurance 97 146 243 ( 89; Inventories ( 75) ( 75) ( 5461: Accounts payable ( 6,679) 581 ( 6,098) ( 1,48:: Bonds and interest payable 390 390 390 Accrued payables ( 785) ( 230) ( 1,015) 55•' Due to Metropolitan Waste Control Commission ( 730) ( 730) ( 2,76:_ Due to General Fund ( 800) ( 800) ( 1,600) ( 1,10"; $( 21,296)6,834 $ 1( 4 462) S 32.,985 See accompanying notes to financial statements. CITY OF ST. ANTHONY, MINNESOTA NATER CONSTRUCTION FUND STATEMENT OF RECEIPTS AND DISBURSEMENTS YEAR ENDED DECEMBER 31, 1974 Cash balance, January 1, 1974 S--LJ0i Receipts Interest on investments $ 4,890 Investments sold, at cost 190,400 Total $195,290 Disbursements - Investment purchases $196,300 Cash balance, December 31, 1974 91 See accompanying notes to financial statements. 23 24 CITY OF ST. ANTHONY, MINNESOTA NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1974 Note 1 - Summary of significant accounting policies The City statements are shown or, both the accrual and modified accrual basis of accounting with the exception of the General Fund which reported its trans- actions on the cash basis which does not conform with generally accepted accounting principles. The transactions of the Special revenue and General Debt Service funds are shown on the modified accrual basis, all other funds are shown on the accrual basis. Funds maintained on the modified accrual basis (which is in accordance with generally accepted accounting principles, in certain circumstances) are those funds which record transactions in the following manner: (a) General property taxes - revenue is recognized in. the year of antici- pated collection; (b) Interest expense on general bonded indebtedness and special assessment bonds - Interest expense is recorded as an expenditure when paid; interest is not accrued unless fully matured and not paid; (c) Interest revenue an special assessments receivable - inte.re,:.L revenue is recoL;nized in the year of anticipated collection of the current prin-- cipai installment; (d) Construction contracts - all contracts are recorded utilizing encum- brances, with the related expenditures recognized as the construction is incurred with the unexpended portion of the contract shown as an appropriation of the fund balance; and (e) Bond and interest payments due January 1 - expenditures are recognized when amounts are remitted to the fiscal agent (usually in December) for payment of bonds and interest. ]Investments - Investments are stated at cost which approximates market. Inventories - Inventories held by the Enterprise Fund are stated at cost. Property and equipment - Enterprise funds - The property and equipment of. the Enterprise funds are stated at cost. Depreciation has been provided using the straight-line method over the estimated useful lives of the assets. The depreciation on Public Utility Fund property and equipment which was financed by special assessments, grants and contributions is charged to current revenues but then redistributed as a charge to the contributions in aid to construction account. Note 2 - Prior period adjustments Through December 31, 1973 the General Fund was shown on the accrual basis. The fund balance has been restated to reflect.the change to the modified accrual basis. 25 CITY OF ST. ANTHONY, MINNESOTA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 1974 Note 2 - Prior Period adjustments (Continued) The Special Assessment Fund has been adjusted to reflect the removal of deferred taxes receivable and amounts to be provided in order to conform with generally accepted accounting principles. The Retained earnings of the Public Utility Funds have been adjusted to reflect the distribution of prior years depreication on contributed property, plant and equipment to the contribution account. Note 3 - General Fixed Assets General fixed assets owned by the City are not included in the financial. statements since records thereof are not maintained. Generally accepted accounting principles require their inclusion in the financial statements. Note 4 - Water Revenue Bonds The revenues of the Water Operating Fund are pledged for payment of the Water Revenue Bonds of 1961 and 1963. Note 5 - Litigation: The City had the usual and customary types of miscellaneous claims pending at year. -end, mostly of a minor nature and usually all covered by insurance carried for that purpose. The City also carries personal injury insurance against suits for false arrest, libel, slander, violation of privacy, wrongful entry, etc., which suits can arise from enforcement of the city code and general laws. There were no such suits pending at ,year-end which would, in the opinion of the City Attorney's office, incur any material liability, and any such liability would be covered by insurance_ 071 CITY OF ST. ANTUONY, MINNESOTA BALANCE SHEETS - ALL FUNDS DECEMBER 31, 1974 General Fund ASSETS Cash (deficit) $ 106,517 Petty cash and change funds 100 Cash with paying agents Investments 40,000 Accounts receivable 6,194 Accrued interest receivable 47 Due from other funds 4,200 Taxes receivable 14,616 Special assessments receivable Prepaid expense Inventories, at lower of cost or market Property, plant and equipment, at cost less accumulated depreciation Toga .assets —S--=397-4 9797.4_ c -; B L_tn�slr�,::T.o:3,_r_sERi�.._�.N.;_rvND ___I_i.:r._:, Liabililities Accounts, payable $ 28,198 Contracts payable Due to other funds 1,146 Deposits payable Accrued liabilities 15,120 Bonded indebtedness Bonds and interest due January 1, 1975 Future bond maturities Reserves 20,810 Retained earnings Contributions Fund balance 1.06,700 Total liabilities, reserves and fund balance $ 171.974 27 Special Special Municipal Public revenue Assessment Liquor utility funds Fund Fund funds $ 9,143 $ 269,273 $ 29,116 $( 7,694) 25 77,110 209,837 22,300 111,900 654,700 328,400 265,038 217,335 131 764 382 92,548 1,146 1,415 1,329,2.21 11,657 948 239,500 935 _ 403,403 1,918,180 386 _ 7 52,557,758 $ 761 932 2 480,786 560 $ 141,583 $ 13,976 $ 16,211 92,548 4;200 35,134 18,919 3,228 209,837 22,300 1,680,000 220,000 212,796 601.,430 476,731 385,677 561,397 1,490,186 $_86 237 $2 557,758 $ 761,932 L2-1 ±80 rCITY OF ST. ANTHONY, MINNESOTA 29 I STATEMENTS OF CASH INVESTMENTS AND SECURITY FOR DEPOSITS DECEMBER 31, 1974 Additional coverage of $40,000 for demand deposits and $100,000 for time deposits is provided at each depository by the Federal Deposit Insurance Corporation. Note - lNinnesota Statutes require a depository to pledge sufficient collateral to cover funds or. deposit. The amounts pledged by the State Bank of St. Anthony Villa. -e, and Fidelity Bank and Trust was short of this requirement at Dec•embe:: 31, 1974. SUMMARY STATEMENT OF RECEIPTS A14D DISBURSEMENTS ALL FUNDS YEAR ENDED DECEMBER 31, 1974 Fund General Fund Special revenue funds State -Aid Street Fund Recreation Fund Revenue Sharing Fund Special Fire Department Fund Special Police Department Fund Special Assessment Fund Construction accounts Debt service accounts Municipal Liquor Fund Public Utility funds Operating Funds Water Sewer Water Construction Fund Cash Balance January 1, 1974 Receipts $ 160,631 $ 946,823 Cash Balance December 31, Disbursements 1974 $1,000,637 $ 106,817 16,905 140,536 157,731 Face amount ( 3,824) 41,242 43,659 of securities 19,786 222,893 242,194 pledged Cash Cash Investments as collateral State Bank of St. Anthony Village, St. 63,981 60,795 6,846 Anthony, Minnesota 543,018 594,911 139,052 General Fund checking account $ 377,539 3,591,516 130,221 Liquor Fund checking account 29,116 2,460,849 29,116 Certificates of deposit $ 835,000 SL 676 000 Fidelity Bank and Trust, Minneapolis, Minnesota Certificates of deposit 300,000 $ 200.000 Total cash S 406.655 $1,135.000 Additional coverage of $40,000 for demand deposits and $100,000 for time deposits is provided at each depository by the Federal Deposit Insurance Corporation. Note - lNinnesota Statutes require a depository to pledge sufficient collateral to cover funds or. deposit. The amounts pledged by the State Bank of St. Anthony Villa. -e, and Fidelity Bank and Trust was short of this requirement at Dec•embe:: 31, 1974. SUMMARY STATEMENT OF RECEIPTS A14D DISBURSEMENTS ALL FUNDS YEAR ENDED DECEMBER 31, 1974 Fund General Fund Special revenue funds State -Aid Street Fund Recreation Fund Revenue Sharing Fund Special Fire Department Fund Special Police Department Fund Special Assessment Fund Construction accounts Debt service accounts Municipal Liquor Fund Public Utility funds Operating Funds Water Sewer Water Construction Fund Cash Balance January 1, 1974 Receipts $ 160,631 $ 946,823 Cash Balance December 31, Disbursements 1974 $1,000,637 $ 106,817 16,905 140,536 157,731 ( 290) ( 3,824) 41,242 43,659 ( 6,241) 19,786 222,893 242,194 485 10,704 73,139 75,500 8,343 3,660 63,981 60,795 6,846 190,945 543,018 594,911 139,052 67,776 3,653,961 3,591,516 130,221 96,313 2,393,652 2,460,849 29,116 109,612 30,934 1,101 i I� Total - 704,543 964,546 288,319 195,290 59.527 400 1,089,926 311,270 196,300 5.9,a25,288 ( 1.5,768) 7,983 91 406.655 30 CITY OF ST. ANTHONY MINNESOTA BONDS PAYABLE - ALL FUNDS DECEMBER 31, 1974 Issue Interest Maturity date rate date Principal Special Assessment Fund Improvement Bonds of 1956 Series A $10,000 per year 8/1/56 4.007. 8/1/75-76 $ 20,000 Series B $5,000 per year 8/1/56 4.00 8/1/75-76 10,000 Total Improvement Bonds of 1956 Improvement Bonds of 1957 $5,000 per year 10/1/57 4.80 10/1/75-76 $ 10,000 Improvement Bonds of 1960 Series B -I $75,000 11/1/60 4.10 1/1/76 $ 75,000 Series B -II $15,000 per year 1!/1/61 4.00 1/1/76-77 30,000 Series B -III $5,000 per year 10/7./62 3.70 1/1/76-77 _ 10,000 Total Improver„ent Bends of 1960, Series B $ 115 000 Improvemr:ut Bends of 1973 March 1, 1.976 6/1/73 4.05 3/1/76 $ 65,000 March !, 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 4.1.5 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 _ 901000 Total Improvement Bonds of 1973 675 000 Improvement Bond Redemption Improvement Bonds of 1961 $20,000 per year 10/1/61 4.00 1/1/76-77 $ 40,000 Improvement Bonds of 1962 $10,000 per year 10/1/62 3.70 1/1/76-78 30,000 Improvement Bonds of 1963 January 1, 1976 7/1/63 3.40 1/1./76 $ 40,000 $20,000 per year 3.50 1/1/77-80 80,000 $ 120,000 I W CITY OF ST. ANTHONY, MINNESOTA BONDS PAYABLE - ALL FUNDS (CONTINUED) DECEMBER 31, 1974 Issue date Special Assessment Fund (Continued) Improvement Bond Redemption (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 Total Special Assessment Fund Water Revenue Bonds General Obligation Watennorks Bonds of 1.961 $20;000 $25,000 per yea_• Water Utility Revenue Bonds of 1963 $25,000 $25,000 per year Total water revenue bonds Total bonds payable - All funds Interest rate 4.30% 4.30 4.60 4.60 4.70 4.80 4.90 1/1/62 4.00 4.00 10/1/63 3.40 3.50 Maturity date 1/1/76-77 1/1/78 1/1/79 1/1/80-82 1/1/83-84 1/1/85-86 1/1/87-90 1/1/76 i/l/77-79 10/1/75 10/1/76-79 Principal $ 120,000 50,000 50,000 120,000 80,000 80,000 160,000 660,000 $ 850,000 $1,680,000 $ 20,000 75,000 95,000 $ 25,000 .100,000 ,_125,000 220,000 S1,900,000 Note - January 1, 1975 maturities are considered matured December 31, 1974. 31 32 CITY OF ST ANTHONY, MINNESOTA STATEMENT OF CHANGES IN BONDED INDEBTEDNESS YEAR ENDED DECEMBER 31, 1974 Special Assessment Fund Water Revenue Bonds Outstanding January 1, 1974 $1,945,000 $ 265,000 .$2 210.000 Outstanding Issued Redeemed December 315.._,, -0- $ 265,000 L-- - 0- DEBT SERVICE REQUIREMENTS ALL FUNDS_ DECEMBER 31, 1974 45,000 $_ 37.0.000 $1,680,000 220,000 y1.900.000 ,dote - January 1, maturities are considered matured December 31, of the preceding year. S.ecir,l assessment. bonds Water revenue bonds Tota;. Year 1_rinci.ptJ_ Interest Total Pri^t Interest, 7."I $ 2?: 5, 000 $ 77.,977 $ 316,977 $ 45,000 $ 8,7.50 $ 53,15" 19'?6 215,000 ;7.,191. 276,191 50,000 6,500 56,50 1977 1!:5,000 52,478 197,478 50,000 15..,625 54,6`'. 1978 135,000 46,576 181,576 50,000 2,750 52,75 1979 125,000 40,862 165,862 25,000 875 25,87 1.980 1.05,000 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 1,96 - 41,960 _._... $1,680,.0 $ 437,469 $2,117,469 $ 220.000 $ 22.900 242 S'_ ,dote - January 1, maturities are considered matured December 31, of the preceding year. 33 CITY OF ST. ANTHONY MINNESOTA ASSESSED VALUATIONS TAX LEVIES AND MILL RATES r (Shown by year of tax collectibility) 1 EMPLOYEES' SURELY BONDS DECEMBER.31, 1974 Harry Lekson Assessor $ 500 Carol Johnson Clerk -Treasurer 100,000 All employees are covered by an honesty blanket position bond of $100,000. 1971 1972 1973 1974 1975 Assessed valuations f $ 9 656.471 $10.101.059 $33.370.218 X33,918.351 X5,370 441 _ i Tax levies General Fund Bonds and interest $ 213,406 29,162 $ 183,272 30,000 $ 212,816 29,451 $ 274,230 25 032 $ 299,163 _ 25 007 —�_ Total $ 242.568 $213 272 S 242.267 $ 299,262.I 2+ 170 Mill rates General Fund Bonds and interest 22.100 3 019 18.144 2.970 6.377 .883 8.085 .738 8.458 .707 Total 25_119, 21.114 - 7.260 8.823 9.165 Note - The 1971 Minnesota property not previously for the assessment of of real. property azx3: a State Legislature exempted from assessment exempted. The Legislature also set market real property. The effect is an increase in reduction in the mill rate. most personal value as the the assessed basis value EMPLOYEES' SURELY BONDS DECEMBER.31, 1974 Harry Lekson Assessor $ 500 Carol Johnson Clerk -Treasurer 100,000 All employees are covered by an honesty blanket position bond of $100,000.