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Home My WebLink About1975 CAFRCITY OF ST. ANTHONY, MINNESOTA FINANCIAL STATEMENTS DECEMBER 31, 1975 CITY OF ST. ANTHONY, MINNESOTA ELECTED AND APPOINTED OFFICIALS DECEMBER 31, 1975 Elected Mayor - Duane R. Miedtke Council Donna Stauffer Robert J. Sundland Sally Haik William Sauer Appointed Manager - Jerry L. Dulgar Clerk - Treasurer - Carol B. Johnson Assessor - Harry C. Lekson L.. Term of office expires on the first official business day of January 1978 1978 1978 1980 1980 CITY OF ST. ANTHONY, MINNESOTA TABLE OF CONTENTS Page Comments 1 Accountants' opinion 1 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 changes in fund balance 10 Statements of revenue - Actual compared with budget estimates 12 Statements of expenditures - Actual compared with budget estimates 13 Capital project funds Balance sheets 15 Statements of revenue, expenditures and fund balance 15 Special Assessment Funds Balance sheet 16 Statement of changes in fund balance 17 Municipal Liquor Fund Balance sheet 18 Statement of income and retained earnings 19 Statement of changes in financial position 20 Statement of operating expenses 21 Public utility funds Balance sheets 22 Statement of changes in contributions and retained earnings 24 Statements of income and expense 25 Statements of changes in financial position 26 Water Construction Fund - Statement of receipts and disbursements 27 General Debt Service Fund Balance sheet 28 Statement of revenue and fund balance 28 Statement of general long-term debt 28 Notes to the Financial Statements 29 L_. L. CITY OF ST. ANTHONY, MINNESOTA TABLE OF CONTENTS (CONTINUED) Page Supplemental information Balance sheets - All funds 32 Statement of cash investments and security for deposits 34 Summary statement of receipts and disbursements - All funds 34 Bonds payable - All funds 35 Statement of changes in bonded indebtedness 97 Debt service requirements - All funds 37 Assessed valuations, tax levies and mill rates 39 Employees` surety bonds 39 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 plan. Under this plan, as specified in the Statutes, "The council shall exercise the legislative power of the City and determine all matters of policy. The City manager shall be the head of the administrative branch of the City government and shall be responsible to the council for the proper administration of all affairs relating to the City." The council is composed of five members, includ- ing the mayor who is chairman. ,The City manager is appointed by the council. 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 $49,836 to $56,864 at December 31, 1975, of which $25,467 has been appropriated to finance the 1976 budget leaving an unappropriated balance of $31,397. A condensed summary of receipts and disbursements, excluding investment transactions, is shown below. 1975 1974 Budget Actual Budget Actual RECEIPTS General property taxes $300,640 $300,381 $275,716 $266,952 Licenses and permits 8,500 10,228 10,000 10,830 Fines and forfeitures 12,000 18,150 10,000 18,042 Revenue from use of money and 13,706 13,705 2,594 2,223 property 3,000 1,668 3,000 2,538 Intergovernmental revenue 170,034 168,373 171,134 170,967 Other revenue 30,300 52,352 28,000 39,494 Transfers from other funds 331,000 310,200 296,000 295,000 $855,474 $861,352 $793,850 DISBURSEMENTS General government $164,442 $166,384 $124,941 $124,153 Public safety 398,512 398,448 357,118 356,745 Highways 164,855 164,728 155,119 154,642 Sanitation and waste removal 13,706 13,705 2,594 2,223 Community services 48,696 48,696 59,055 57,885 Parks maintenance 13,590 13,570 17,269 16,714 Other functions 133,574 134,429 123,984 105,275 $937,375 $939,960 $840,080 X5817.637 Special revenue funds are established to account for taxes and other revenues set aside for a particular purpose. Following is a brief description of each fund. I L. SPECIAL REVENUE FUNDS (CONTINUED) State Aid Fund - Gasoline tax collections apportioned to the City from the State of Minnesota for street maintenance are accounted for in this fund. Contracts payable at December 31, 1975 represent the amounts due Hennepin and Ramsey Counties for traffic signals. The Fund had a deficit balance of $27,473 at December 31, 1975. Community Services Fund - This fund accounts for the City recreation program which is carried on in co-operation with Independent School District No. 282. Expenditures of $40,951 exceeded receipts by $882 during 1975 and decreased the fund balance to a deficit of $7,658 at December 31, 1975. 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 1975 was $43,294, of which $11,703 will be received during 1976. Expenditures during 1975 were for capital outlay. As of December 31, 1975 $74,847 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 City Fire Department. During 1975, $8,837 was received from the State of Minnesota for 1975 insurance premium taxes. These funds have been appropriated for the purchase of a new fire truck. 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 City Police Department. The fund balance was $21,101 at December 31, 1975. CAPITAL PROJECT FUNDS State -aid Construction Fund - Gasoline tax collections apportioned to the City from the State of Minnesota for street construction are accounted for in this fund. The account receivable of $318,857, from the State of Minnesota, is the City's unencumbered construction allotment balance at December 31, 1975. This allotment is available only for approved projects. Capital Improvement Fund - This fund was established to account for purchases of capital outlay items to be used by the City's maintenance department. Transfers from the General Fund will finance these acquisitions. Equipment Fund - This fund was established to account for the purchase of a street sweeper. Proceeds were from the sale of certificates of indebtedness bonds and used to purchase the sweeper at a cost of $29,700. At December 31, 1975 the fund balance was $97. SPECIAL ASSESSMENT FUND 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 proceeds for con- struction 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 interest. The appropriated fund balance represents the interest on the bonded indebtedness which is payable in future years. II r 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. Shown below is a con- densed summary of liquor store operations for 1975, 1974 and 1973. Sales Cost of Sales Gross profit Operating expense Operating income Other income less other expense Net income Transfers to other funds Equivalent mill rate of transfers PUBLIC UTILITY FUNDS 1975 1974 1974 Percent $1,955,034 Percent 1,243,947 of sales $ 711,087 of sales $2,029,367 100.0 $2,054,998 100.0 1,247,655 61.5 1,308,703 63.7 $ 781,712 38.5 $ 746,295 36.3 511,519 25.2 470,124 22.9 $ 270,193 13.3 $ 276,171 13.4 39,233 1.9 21,290 1.1 $ 309,426 15,2 S 297.461 __L4.5 Percent of net income 974 1973 26,635 1.4 S 320,076 16.4 Percent of Percent of net income net income $ 300,000 96.95 S 275,000 92.45 S 289.817 90,55 PM 9" Water Operating Fund - This fund accounts for the operations of the City -owned water system. The fund had income of $34,448 in 1975. 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 City -owned sewer system. The fund reported an income of $23,430 for 1975. 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 Commission. The amount payable by the Commission in future years, $128,852, is included as a receivable on the balance sheet. A condensed summary of operations for the Water and Sewer Operating Funds for the last three years is presented below: Percent 1974 of sales $1,955,034 100.0 1,243,947 63.6 $ 711,087 36.4 417,646 21.4 $ 293,441 15.0 26,635 1.4 S 320,076 16.4 Percent of Percent of net income net income $ 300,000 96.95 S 275,000 92.45 S 289.817 90,55 PM 9" Water Operating Fund - This fund accounts for the operations of the City -owned water system. The fund had income of $34,448 in 1975. 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 City -owned sewer system. The fund reported an income of $23,430 for 1975. 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 Commission. The amount payable by the Commission in future years, $128,852, is included as a receivable on the balance sheet. A condensed summary of operations for the Water and Sewer Operating Funds for the last three years is presented below: 1975 1974 1973 Water Operating Fund Operating revenue $142,826 $157,348 $151,157 Operating expense (less depreciation) L 75,165 68,434 64,145 Other income and (expense) 4,849 11,715 289 Income before depreciation $ 72,510 $100,629 $ 87,301 _ Depreciation 38,062 36,513 36,096 Net income 34 48 4 6 205 III CITY OF ST. ANTHONY, MINNESOTA GENERAL FUND BALANCE SHEET DECEMBER 31, 1975 Cash Petty cash and change funds Accounts receivable Due from Municipal Liquor Fund Delinquent taxes receivable Total assets ASSETS LIABILITIES, RESERVE AND FUND BALANCE Liabilities Accounts payable Accrued liabilities Due to Municipal Liquor Fund Reserve for unrealized revenue Fund balance Appropriated Unappropriated Total liabilities, reserve and fund balance STATEMENT OF CHANGES IN FUND BALANCE YEAR ENDED DECEMBER 31, 1975 Fund balance January 1, 1975 Receipts and disbursements excluding investment transactions Receipts Disbursements Increase in due from Municipal Liquor Fund Decrease in liabilities Fund balance December 31, 1975 See accompanying notes to financial statements. Budget estimate $106,700 855,474 (937,375) 24,799 $ 68,209 100 11,430 25,000 14.669 $ 16,178 19,437 830 26,099 25,467 31,397, 119 40 Actual $106,700 861,352 (939,960) 20,800 7,972 56 64 3 4 CITY OF ST. ANTHONY, MINNESOTA GENERAL FUND STATEMENT OF RECEIPTS - ACTUAL COMPARED WITH BUDGET ESTIMATES YEARS ENDED DECEMBER 31, 1975 AND 1974 Licenses and permits Licenses $ 5,500 1975 6,664 1974 Permits 3,000 Budget Actual Actual General property taxes $ 10,228 $ 10,830 Taxes $ $248,161 $215,414 State property tax relief fund 1,700 1,156 1,200 Homestead tax aid 600 50,239 48,427 $299,140 $298,400 $263,841 Penalties and interest on taxes 1,500 1,981 3,111 $300,640 $300,381 $266,952 Licenses and permits Licenses $ 5,500 $ 6,664 $ 5,974 Permits 3,000 3,564 4,856 $ 8,500 $ 10,228 $ 10,830 Fines, forfeitures and penalties 12,000 $ 18,150 18,042 Revenue from use of money and property Interest $ 3,000 1,668 $ 2,538 Intergovernmental revenue Local government aid $167,734 $166,023 $167,734 Attached machinery aid 554 554 Mortgage registry 840 Bank excise 10 Mobile home registration 1,700 1,156 1,200 County street allotments 600 640 629 $170,034 $168,373 $170,967 Other revenue Charges for current services $ 6,192 $ 2,655 Sale of equipment and unclaimed property 717 705 Refunds and reimbursements Hennepin and Ramsey Counties - CETA 21,689 Independent School District No. 282 8,978 17,382 Municipal Liquor Fund 6,445 4,916 Special Assessment Fund 2,034 State of Minnesota 3,546 6,410 Insurance claims and refunds 551 913 Other 3,954 3,757 $ 30,300 $ 52,072 $ 38,772 Permit surcharge 280 $ 722 See accompanying notes to financial statements. 5 CITY OF ST. ANTHONY, MINNESOTA GENERAL FUND - ACTITAT. r.O PAPRn TJTTA TUMrVT See accompanying notes to financial statements. 1975 1974 Budget Actual Actual Transfers from other funds Revenue Sharing Fund $ 25,000 $ 25,000 $ 15,000 Water Operating Fund 3,000 5,100 3,000 Sewer Operating Fund 3,000 5,100 2,000 Municipal Liquor Fund 300,000 275,000 275,000 $331,000 $310,200 $295,000 Total budgeted receipts 8 5 4 4 $861,352 $803,823 Investment maturities, at cost 79,900 143,000 Total receipts 9 2 946 2 See accompanying notes to financial statements. M CITY OF ST. ANTHONY. MINNESOTA GENERAL FUND 'S _ ArTrr AT. r Manager Personal services 1975 35,116 1974 35,116 Budget Actual Actual General government 1,674 166 1,655 Mayor and Council 1,502 Other charges 21 Personal services $ 7,080 $ 7,080 $ 7,080 Contractual services 2,309 2,308 875 Commodities 60 60 56 Other charges 75 75 43 $ 9,524 $ 9,523 $ 8,054 Manager Personal services $ 35,116 $ 35,116 $ 29,148 Contractual services Commodities 1,674 166 1,655 Other charges 1,502 Other charges 21 192 $ 751 $ 192 $ 1,129 210 3,465 $ 36,982 $ 36,963 $ 30,860 Municipal court $ 48,247 $ 25,183 Independent accounting and audit Personal services $ 17,001 $ 17,001 $ 12,974 Contractual services 4,750 844 $ 840 $ 18,507 274 Other charges 16 16 $ 17,861 $ 17,857 $ 13,248 Elections Personal services $ 319 $ 319 $ 1,031 Contractual services 262 262 26 Commodities 166 166 51 Other charges 4 4 21 $ 751 $ 751 $ 1,129 Assessing Personal services $ 7,000 $ 7,000 $ 6,300 Contractual services 509 505 606 Commodities 250 232 372 Other charges 60 60 45 $ 7,819 $ 7,797 $ 7,323 Accounting - Finance Personal services $ 36,859 $ 38,917 $ 15,077 Contractual services 2,821 2,820 2,816 Commodities 3,045 3,045 3,805 Other charges 3,475 3,465 3,485 $ 46,200 $ 48,247 $ 25,183 Independent accounting and audit Personal services $ 4,200 $ 4,200 $ 4,750 Legal - Personal services $ 18,550 $ 18,507 $ 13,728 See accompanying notes to financial statements. CITY OF ST. ANTHONY, MINNESOTA GENERAL FUND STATEMENT OF DISBURSEMENTS - ACTUAL COMPARED WITH BUDGET ESTIMATES (CONTINUED) YEARS ENDED DECEMBER 31, 1975 AND 1974 1975 1974 Budget Actual Actual General government (Continued) Planning and zoning Personal services $ 236 Contractual services $ 75 $ 72 68 Commodities 25 17 18 $ 100 $ 89 $ 322 General government buildings Personal services $ 5,000 $ 5,000 $ 4,500 Contractual services 15,707 15,703 13,279 Commodities 360 359 343 Other charges 600 600 600 Capital outlay 788 788 834 $ 22,455 $ 22,450 $ 19,556 Total general government $ 164,442 $ 166,384 $ 124,153 Public safety Police protection Personal services $ 201,177 $ 201,177 $ 175,142 ` Contractual services 4,928 4,921 2,914 Commodities 2,822 2,822 2,736 Other charges 140 139 165 Capital outlay 269 269 4,218 $ 209,336 $ 209,328 $ 185,175 Fire protection Personal services $ 168,592 $ 168,592 $ 148,236 Contractual services 3,011 2,986 2,493 Commodities 3,027 3,027 5,497 ` Other charges 301 301 313 Capital outlay 1,107 1,107 237 i $ 176,038 $. 176,013 $ 156,776 Protective inspection I Personal services $ 6,836 $ 6,836 $ 6,925 Contractual services 345 345 280 Other charges 99 99 110 $ 7,280 $ 7,280 $ 7,315 See accompanying notes to financial statements. 7 M CITY OF ST. ANTHONY, MINNESOTA Public safety (Continued) Civil defense Personal services Contractual services Commodities Other charges Capital outlay Animal control Contractual services Commodities Total public safety Highways Engineering - Personal services Street Personal services Contractual services Commodities Other charges Capital outlay Maintenance garage Contractual services Commodities Capital outlay Street lighting Total highways Sanitation and waste removal Weed inspection Personal services Contractual services Commodities Capital outlay 1975 Budget Actual $ 3,030 $ 3,030 460 452 50 29 1,012 $ 4,552 $ 1,281 25 $ 1,306 $ 398,512 $ 1,85I $ 95,999 3,807 9,578 245 $ 109,629 $ 14,179 2,611 23,500 300 $ 40,590 $ 12,785 $ 164,855. $ 7,500 50 2,552 700 $ 10,802 Storm sewer Contractual services $ 265 Commodities 1,198 Other charges 68 $ 1,531 See accompanying notes to financial statements. 1,012 $ 4,523 $ 1,281 23 $ 1,304 $ 398,448 $ 1,851 $ 95,999 3,787 9,568 241 $ 109,595 $ 14,179 2,605 23,419 294 $ 40,497 $ 12,785 $ 164,728 $ 7,500 50 2,552 700 $ 10,802 $ 264 1,198 68 $ 1,530 1974 Actual $ 2,884 1,934 169 20 1.294 $ 6,301 $ 1,158 20 $ 1,178 $ 356,745 $ 2,497' $ 92,880 3,684 8,012 426 6.640 $ 111,642 $ 13,019 2,985 14,055 51 $ 30,110 $ 10,393 $ 154,642 $ 4 $ 4 $ 1,089 26 M CITY OF ST. ANTHONY, MINNESOTA Community services Personal services $ 40,692 1975 $ 38,524 1974 3,093 Budget Actual Commodities Actual Sanitation and waste removal (Continued) 3,050 Other charges 464 464 Health Capital outlay 483 483 12,851 Personal services $ 1,348 $ 1,348 $ 1,104 Contractual services 25 25 - $ 1,373 $ 1,373 $ 1,104 Total sanitation and waste removal $ 13,706 $ 13,705 $ 2,223 Community services Personal services $ 40,692 $ 40,692 $ 38,524 Contractual services 3,093 3,093 2,870 Commodities 3,964 3,964 3,050 Other charges 464 464 590 Capital outlay 483 483 12,851 Total community services $ 48,696 $ 48,696 $ 57,885 Parks - Maintenance Personal services $ 9,390 $ 9,389 $ 10,843 Commodities 2,900 2,881 2,595 Other charges 324 324 76 Capital outlay 976 976 3,200 Total parks - maintenance $ 13,590 $ 13,570 $ 16,714 Other functions Human relations $ 1,458 $ 1,458 $ 2,089 Liquor store disbursements - Reimbursed 6,530 6,530 5,464 Contingencies 13,428 12,067 5,589 Insurance 29,888 29,888 21,681 Pensions, contributions and employees insurance 82,270 82,270 69,550 Other 416 902 Total other functions $ 133,574 $ 132,629 $ 105,275 Transfer to Capital Improvement Fund $ 1,800 Total budgeted disbursements $ 937.375 $ 939,960 $ 817,637 Investment purchases 39,900 183,000 Total disbursements S 979.860 000637 See accompanying notes to financial statements. 10 CITY OF ST. ANTHONY, MINNESOTA SPECIAL REVENUE FUNDS BALANCE SHEETS - DECEMBER 31, 1975 ASSETS Cash (deficit) Petty cash and change funds Investments Accounts receivable United States Government State of Minnesota Total assets LIABILITIES AND FUND BALANCE Liabilities Accounts payalbe Contracts payable Fund balance (deficit) Appropriated Unappropriated Total liabilities and fund balance STATEMENTS OF CHANGES IN FUND BALANCE YEAR ENDED DECEMBER 31, 1975 Fund balance January 1, 1975 before adjustment Adjustment to transfer January 1, State -aid receivable to State -aid Construction Fund Fund balance January 1, 1975 after adjustment Add: Revenue Deduct: Expenditures Fund balance December 31, 1975 See accompanying notes to financial statements. $ 26,141 25 125,400 11,703 757 5164.026 $ 1,479 49,375 61,705 51,467 ^,_164 02h $385,677 (255,094) $130,583 $114,748 132,159 r' State -aid Fund $ 1,645 19,500 757 $ 21,902 i $ 49,375 (27,1473) I ?_1,902 $274,227 (255,094) $ 19,133 $ 8,786 55,392 i S(27,473) I L L L $ 1,479 $ 17,000 $ 44,705 7,658) 74,847 9,350) $ 21,101 6,179) Lil 847 35 355 21 101 $( 6,776) $ 71,000 $ 25,363 $ 21,863 $( 6,776) $ 71,000 $ 25,363 $ 21,863 $ 40,069 $ 47,267 $ 9,992 $ 8,634 40,951 26,420 9,396 L(-! ,658) 1_91,a47 35 35 21 0 Special Special Community Revenue Fire Police Services Sharing Department Department Fund Fund Fund Fund $( 6,204) $ 27,144 $ 355 $ 3,201 25 53,000 35,000 17,900 11,703 IL -L 17 9) 91 847 35 355 21 10 $ 1,479 $ 17,000 $ 44,705 7,658) 74,847 9,350) $ 21,101 6,179) Lil 847 35 355 21 101 $( 6,776) $ 71,000 $ 25,363 $ 21,863 $( 6,776) $ 71,000 $ 25,363 $ 21,863 $ 40,069 $ 47,267 $ 9,992 $ 8,634 40,951 26,420 9,396 L(-! ,658) 1_91,a47 35 35 21 0 12 CITY OF ST. ANTHONY, MINNESOTA STATE -AID FUND State -aid revenue Interest earned Total revenue COMMUNITY SERVICES FUND Charges for current services REVENUE SHARING FUND U. S. Treasury - Grant Interest earned Total revenue SPECIAL FIRE DEPARTMENT FUND State -aid Interest earned Other Total revenue SPECIAL POLICE DEPARTMENT FUND State -aid Interest earned Other Total revenue Total special revenue funds revenue See accompanying notes to financial statements. 1975 Budget Actual $ -0- $ 7,575 1,211 $ 8,786 1974 Actual $ 7,575 3,088 $ 10,663 $ -0- $ 40,069 $ 41,242 $ 43,294 $ 39,045 3,973 4,189 $ 25,000 $ 47,267 $ 43,234 $ 8,837 1,155 $ -0- -9,992 $ _0_ 25,000 $ 7,657 925 52 $ 8,634 114 748 $ 8,229 1,385 21 9,635 $ 7,283 1,367 $ 8,650 3 24 CITY OF ST. ANTHONY, MINNESOTA SPECIAL REVENUE FUNDS STATEMENTS OF EXPENDITURES - ACUTAL COMPARED WITH BUDGET ESTIMATES YEARS ENDED DECEMBER 31, 1975 AND 1974 STATE -AID FUND Commodities Capital outlay Total expenditures COMMUNITY SERVICES FUND Recreational services REVENUE SHARING FUND Commodities Capital outlay Transfer to General Fund Total expenditures SPECIAL POLICE DEPARTMENT FUND Commodities Capital outlay Total expenditures Total special revenue funds expenditures See accompanying notes to financial statements. 1975 1974 Budget Actual Actual $ 6,017 $ 4,909 49,375 $ -0- $ 55,392 $ 4,909 $ -0- $ 40,951 $ 43,458 $ 1,420 25,000 $ 25,000 $ 26,420 $ -0- $ 9,396 $ 9,396 25,000 $132,159 $ 6,693 15,000 $ 21,693 $ 495 $ 495 S 70.555 13 15 CITY OF ST. ANTHONY, MINNESOTA CAPITAL PROJECT FUNDS BALANCE SHEETS DECEMBER 31, 1975 ASSETS Cash Account receivable - State of Minnesota Total assets RESERVE AND FUND BALANCE Reserve for authorized improvements Fund balance - Unappropriated Total reserve and fund balance Fund balance January 1, 1975 Revenue Sale of bonds Interest earned Transfer from General Fund Expenditures Contractual services Capital outlay Fund balance December 31, 1975 State -aid Capital Construction Improvement Equipment Combined Fund Fund Fund $ 1,897 $ 1,800 $ 97 318,857 $318,857 20 754 318 7 00 S 97 $318,857 $318,857 1,897 $ 1,800 $ 97 $320,754 3 8 857 1—i-3-00 97 $ -0- $ -0- $ -0- $ -0- $ 30,000 $ 30,000 166 166 1,800 1,800 $ 31,966 $ 1,800 $ 30,166 $ 369 $ 369 29,700 29,700 30,069 $ 30,069 1,897 $ -0- 1 8 0 S 97 See accompanying notes to financial statements. 16 CITY OF ST. ANTHONY. MINNESOTA SPECIAL ASSESSMENT FUND BALANCE SHEET DECEMBER 31, 1975 Construction Debt Service LIABILITIES AND FUND BALANCE Liabilities Contracts payable Total accounts accounts ASSETS Cash (deficit) $ 206,240 $( 24,020) $ 230,260 Cash with paying agents 205,353 205,353 Investments 782,000 140,500 641,500 Accounts receivable 6,278 6,278 1,435,000 Delinquent taxes receivable 1,422 1,422 Special assessments receivable 402,859 37,367 365,492 Unremitted 33,154 ( 22,113) 33,154 Delinquent 37,006 Total liabilities and 37,006 Deferred principal 1,021,514 fund balance 1,021,514 Due from special assessment $2,262,757 construction accounts 92,548 92,548 Total assets $2,385.515 S 122.75 S2 262.757 LIABILITIES AND FUND BALANCE Liabilities Contracts payable $ 14,956 $ 14,956 Due to special assessment debt service accounts 92,548 92,548 Bonds payable Bonds and interest due January 1, 1976 205,353 $ 205,353 Future bond maturities 1,435,000 1,435,000 Fund balance (deficit) Appropriated 402,859 37,367 365,492 Unappropriated 234,799 ( 22,113) 256,912 Total liabilities and fund balance $2,385,515 S 122,758 $2,262,757 See accompanying notes to financial statements. See accompanying notes to financial statements. i/ CITY OF ST. ANTHONY. MINNESOTA SPECIAL ASSESSMENT FUND STATEMENT OF CHANGES IN FUND BALANCE YEAR ENDED DECEMBER 31, 1975 Construction Debt Service Total accounts accounts r Fund balance January 1, 1975 $ 561,397 $ 32,528 $ 528,869 Add Interest on special assessments $ 92,939 $ 92,939 Increase in special assessments 246 246 General property taxes 24,894 24,894 Interest earned 56,684 $ 8,573 48,111 Refunds and reimbursements 7,336 7,336 182,099 $ 15,909 $ 166,190 Deduct Improvement costs $ 33,183 $ 33,183 Interest expense 71,978 $ 71,978 Service charges 677 677 $ 105,838 $ 33,183 72,655 Fund balance December 31, 1975 $ 637.658 $ 15.254 S622.404 See accompanying notes to financial statements. i/ I CITY OF ST. ANTHONY, MINNESOTA MUNICIPAL LIQUOR FUND BALANCE SHEET DECEMBER 31, 1975 AND 1974 1975 1974 ASSETS CURRENT ASSETS Cash (deficit) $( 20,265) $ 29,116 Petty cash and change funds 77,675 77,110 Accounts receivable 13,935 Due from General Fund 830 1,146 Inventories 241,538 239,500 Prepaid insurance 7,102 11,657 Total current assets 320,815 358,529 PROPERTY, PLANT AND EQUIPMENT, at cost Land, building and improvements $ 458,833 $ 424,762 Furniture, fixtures and equipment 170,805 164,303 $ 629,638 $ 589,065 Less accumulated depreciation 214,885 185,662 414,753 403,403 Total assets LIABILITIES AND RETAINED EARNINGS CURRENT LIABILITIES Accounts payable Due to General Fund Accrued liabilities Salaries Payroll taxes Sales taxes RETAINED EARNINGS Total liabilities and retained earnings See accompanying notes to financial statements. $ 79,637 25,000 10,447 1,100 8,528 124,712 610,856 $ 141,583 8,974 1,111 8,834 $ 160,502 $ 601,430 568 76 932 19 CITY OF ST, ANTHONY, MINNESOTA MUNICIPAL LIQUOR FUND STATEMENT OF INCOME AND RETAINED EARNINGS YEARS ENDED DECEMBER 31, 1975 AND 1974 Other income and expense 1975 Interest income Commissions Percent 1974 $ 15,116 Store #1 Store #2 Total of sales Total Sales $1,127,121 $ 902,246 $2,029,367 100.0 $2,054,998 Cost of sales 667,426 580,229 1,247,655 61.5 1,308,703 Gross profit $ 459,695 $ 322,017 $ 781,712 38.5 $ 746,295 Operating expenses 292,792 218,727 511,519 25.2 470,124 Operating income $ 166,903 $ 103,290 $ 270,193 13.3 $ 276,171 Other income and expense Interest income Commissions $ 10,508 $ 4,608 $ 15,116 Check cashing income 7,612 1,574 9,186 Check cashing expense ( 703) ( 122) ( 825) Settlement antitrust lawsuit 8,217 7,990 16,207 Miscellaneous income 380 301 681 Miscellaneous expense ( 590) ( 542) ( 1,132) $ 25,424 $ 13,809 $ 39,233 Net income $ 192.327 S 117.099 309.426 Retained earnings Balance, Beginning of year $ 601,430 Add net income 309,426 Deduct transfer to General Fund ( 300,000) Balance, End of year S 610.856 See accompanying notes to financial statements. $ 5,756 ,8 11,634 .5 9,147 ( ,1) ( 1,660) .8 380 ( .1) (3,967) 1.9 $ 21,290 15.2 $ 297.463 $ 578,969 297,461 ( 275,000) $ 601 430 LU CITY OF ST, ANTHONY, MINNESOTA MUNICIPAL LIQUOR FUND STATEMENT OF CHANGES IN FINANCIAL POSITION YEARS ENDED DECEMBER 31, 1975 AND 1974 1975 SOURCE OF FUNDS 1974 Operations Net income for the year $ 309,426 $ 297,461 Items not requiring current outlay of funds Depreciation 29,223 19,703 Total S 338.649 lb4 APPLICATION OF FUNDS Additions to property, plant and equipment, net $ 40,573 $ 226,334 Transfer to General Fund 300,000 275,000 Increase (decrease) in working capital ( 1,924) (184,170) Total Various elements of net increase (decrease) in working capital Cash $( 49,381) $( 67,197) Petty cash and change funds 565 5,000 Investments (100,000) Accrued interest ( 2,083; Accounts receivable 13,935 Due from General Fund ( 316) 46 Inventories 2,038 32,674 Prepaid insurance ( 4,555) 381 Accounts payable 61,946 ( 51,386 Accrued liabilities ( 1,156) ( 1,605'. Due to General Fund ( 25,000) Total 8 7 See accompanying notes to financial statements. F' I t i CITY OF ST, ANTHONY MINNESOTA MUNICIPAL LIQUOR FUND STATEMENT OF OPERATING EXPENSES YEARS ENDED DECEMBER 31, 1975 AND 1974 Bar wages Off sale wages Custodians' wages Managers' salaries Bookkeepers' salaries Medical - Life insurance Pension contribution Payroll expense Laundry Bar supplies Off sale supplies Cleaning supplies Office expense Travel Supplies expense Rent Heat and fuel Utilities Telephone Sanitation expense Casualty and liability insurance Repairs and maintenance Depreciation Occupancy expense Security service Advertising Accounting, legal and licenses Music service Service expense Total operating expense See accompanying notes to financial statements. 21 1975 1974 Store X61 Store #2 Total Total $ 93,472 $ 58,212 $ 151,684 $ 154,185 50,092 46,242 96,334 86,923 15,803 7,708 23,511 19,071 17,908 17,908 35,816 32,020 120254 12,254 24,508 21,136 4,213 3,355 7,568 6,337 19,084 13,881 32,965 32,379 212,826 $ 159,560 372,386 $ 352,051 $ 3,676 $ 1,935 $ 5,611 $ 5,701 2,063 649 2,712 5,708 2,515 2,564 5,079 7,195 840 703 1,543 1,774 864 593 1,457 1,225 1,185 1,174 2,359 2,373 $ 11,143 7,618 18,761 23,976 $ 17,583 $ 17,583 $ 17,479 $ 1,215 868 2,083 1,935 10,919 6,064 16,983 11,200 778 858 12636 1,232 702 672 1,374 1,323 15,257 14,481 29,738 28,900 7,921 3,566 11,487 6,808 24,552 4,671 29,223 19,703 $ 61,344 48,763 110,107 $ 88,580 $ 374 $ 441 $ 815 $ 1,626 1,846 920 2,766 1,745 1,164 1,164 2,328 1,884 4,095 261 4,356 262 $ 7,479 2,786 10,265 5 517 2 2 792 S 218.727 11 519 0 24 See accompanying notes to financial statements. 21 22 ASSETS CITY OF ST, ANTHONY, MINNESOTA CURRENT ASSETS Cash (deficit) Current portion of long-term receivable Investments Accounts receivable Prepaid insurance Inventories Restricted assets Cash Cash with paying agent Investments Total current assets PROPERTY, PLANT AND EQUIPMENT Land Distribution and collection system Building and structures Machinery and equipment Less accumulated depreciation Total property, plant and equipment LONG-TERM RECEIVABLE Metropolitan Waste Control Commission Less current portion included above Total assets PUBLIC UTILITY FUNDS BALANCE SHEETS DECEMBER 31, 1975 Operating funds Combined Water Sewer $ 2,800 $ 10,839 $( 8,039) 5,262 5,262 254,500 178,000 76,500 75,314 36,294 39,020 897 666 231 1,220 1,220 25,135 24,967 21,900 21,900 58,100 4,000 445,128 $ 277,886 $ 112,974 $ 9,826 $ 6,181 $ 3,645 2,343,783 649,642 117.529 $3,120,780 1,275,875 $1,844,905 $ 146,896 5,262 $ 141,634 See accompanying notes to financial statements. 1,380,828 649,642 78.561 $2,115,212 903,558 $1,211,654 962,955 38,968 $1,005,568 372,317 $ 633,251 $ 146,896 5,262 $ 141,634 Water Construction Fund $ 168 54,100 $ 54,268 23 Total liabilities, reserves and retained earnings 52.431,667 $1 489.540 S 887.85 S 54,268 Water Operating funds Construction Combined Water Sewer Fund LIABILITIES, RESERVES AND RETAINED EARNINGS CURRENT LIABILITIES Current portion of long-term debt $ 50,000 $ 50,000 . Accounts payable 3,670 2,946 $ 724 Bonds and interest due January 1, 1976 21,900 21,900 Accrued liabilities Payroll and payroll taxes 2,113 1,599 514 Interest 1,300 1,300 Due to Metropolitan Waste Control Commission 4,955 4,955 Total current liabilities $ 83,938 $ 77,745 $ 6,193 LONG-TERM DEBT Water revenue bonds $ 175,000 $ 175,000 Less current portion included above 50,000 50,000 Total long-term debt $ 125,000 $ 125,000 METER DEPOSITS $ 36,958 $ 36,958 Total liabilities $ 245,896 $ 239,703 $ 6,193 RESERVE FOR Debt retirement $ 28,967 $ 28,967 Construction 54,268 $ 54,268 Metropolitan Waste Control Commission - Current value credit 128,853 $ 128,853 Total reserves $ 212,088 $ 28,967 $ 128,853 $ 54,268 RETAINED EARNINGS $ 527,273 y$ 375,690 $ 151,583 CONTRIBUTIONS IN AID TO CONSTRUCTION $1,446,410 845,180 $ 601,230 Total liabilities, reserves and retained earnings 52.431,667 $1 489.540 S 887.85 S 54,268 24 CITY OF ST. ANTHONY, MINNESOTA Balance January 1, 1975 Income for year Increase in reserve for debt retirement Transfer to General Fund Depreciation transferred to contributions in aid to construction Balance December 31, 1975 Water Fund Retained Earnings Contributions $ 345,578 $ 870,182 34,448 ( 1,336) ( 3,000) ( 25,002) 5 690 845,18 See accompanying notes to financial statements. Sewer Fund Retained Earnings Contributi $ 131,153 $ 620,003 23,430 ( 3,000) ( 18,773) 51 8 601 2'�� 25 Other income and expense Interest income CITY OF ST. ANTHONY, MINNESOTA $ 15,514 $ 22,845 Miscellaneous income UTILITY OPERATING FUNDS 278 668 1,651 STATEMENTS OF INCOME AND EXPENSE ( 7,296) ( 7,137) YEARS ENDED DECEMBER 31, 1975 AND 1974 Commission adjustment of prior 1975 1974 Water Sewer Combined Combined Operating revenue Metropolitan Waste Control Water sales $ 138,175 $ 138,175 $ 151,927 Sewer charges $ 155,018 155,018 108,461 Connection charges 840 $ 72,510 840 1,365 Other 3,811 160 3,971 4,296 Total 142,826 155,178 298,004 $ 266,049 Operating expenses (less depreciation) _( 18,773) 43,775) ( 44,828) Net income Disposal charges 1---L,652 $ 117,150 $ 117,150 $ 80,083 Personal services $ 38,021 15,861 53,882 47,199 Contractual services 26,916 3,410 30,326 27,150 Commodities 6,540 2,318 8,858 9,596 Other charges 3,688 2,988 6,676 6,515 Total 75,165 141,727 $ 216,892 170,543 Operating income 67,661 $ 13,451 $ 81,112 95,506 Other income and expense Interest income $ 11,755 $ 3,759 $ 15,514 $ 22,845 Miscellaneous income 390 278 668 1,651 Interest expense ( 7,296) ( 7,296) ( 7,137) Metropolitan Waste Control Commission adjustment of prior years charges 12,900 Metropolitan Waste Control Commission credits 8,778 8,778 8,778 4,849 12,815 $ 17,664 39,037 Income before depreciation $ 72,510 $ 26,266 $ 98,776 $ 134,543 Less depreciation On assets acquired with own funds (38,062) ( 2,836) ( 40,898) ( 39,599) On assets acquired from contri- butions in aid to construction (25,002) _( 18,773) 43,775) ( 44,828) Net income [6 1---L,652 Disposition of income Net income $ 9,446 $ 4,657 $ 14,103 $ 50,116 Add credit arising from transfer - of depreciation to contributions in aid to construction account 25,002 18,773 43,775 44,828 i. . Income transferred to retained earnings $ 23 See accompanying notes to financial statements, 26 CITY OF ST. ANTHONY, MINNESOTA UTILITY OPERATING FUNDS STATEMENT OF CHANGES IN FINANCIAL POSITION YEARS ENDED DECEMBER 31. 1975 AND 1974 APPLICATION OF FUNDS Transfer to General Fund $ 1975 $ 1974 $ Water Sewer Combined Combined SOURCE OF FUNDS 11,397 Operations Increase in long-term receivable Net income $ 34,448 $ 23,430 $ 57,878 $ 94,944 Depreciation 38,062 22836 40,898 39,599 Increase in meter deposits 12824 Reduction of reserve for Metropolitan 12824 2,051 Reduction of long-term receivable 6,326 6,326 Waste Control Commission - Current Decrease in working capital 21,296 S 74.334 �� 26 Syji7 890 APPLICATION OF FUNDS Transfer to General Fund $ 3,000 $ 3,000 $ 6,000 $ 5,000 Purchase of property and equipment 11,397 11,397 81,948 Increase in long-term receivable 13,846 Reduction of long-term debt 50,000 50,000 45,000 Reduction of reserve for Metropolitan Waste Control Commission - Current value credit 5,262 5,262 5,262 Increase in working capital 9,937 24,330 34,267 6,834 ,��. S 106 926 $ j57.890 Various elements of net increase (decrease) in working capital Cash $ 51,574 $( 16,022) $ 35,552 $(148,331) Investments ( 45,500) 26,500 ( 19,000) 141,500 Cash with paying agent ( 400) ( 400) ( 390) Accounts receivable ( 197) 11,400 11,203 1,984 Accrued interest receivable ( 265) ( 58) ( 323) ( 340) Prepaid insurance 49 ( 100) ( 51) 243 Inventories 285 285 ( 75) Accounts payable 7,056 ( 724) 6,332 ( 6,098) Bonds and interest payable 400 400 390 Accrued payables ( 165) ( 20) ( 185) ( 1,015) Current portion of long-term term debt ( 5,000) ( 5,000) Due to Metropolitan Waste Control Commission 1,254 1,254 ( 730) Due to General Fund 2,100 2,100 4,200 ( 1,600) 24.330 267 _ 14 62) See accompanying notes to financial statements. 27 CITY OF ST. ANTHONY, MINNESOTA WATER CONSTRUCTION FUND STATEMENT OF RECEIPTS AND DISBURSEMENTS YEAR ENDED DECEMBER 31, 1975 Cash balance, January 1, 1975 91 Receipts Interest on investments $ 3,277 Investments sold, at cost 208,300 Total 211,577 Disbursements - Investment purchases 9211,500 Cash balance, December 31, 1975 $ 168 See accompanying notes to financial statements. 28 CITY OF ST. ANTHONY, MINNESOTA GENERAL DEBT SERVICE FUND BALANCE SHEET DECEMBER.31, 1975 ASSET Cash FUND BALANCE Fund balance - Appropriated STATEMENT OF REVENUE AND FUND BALANCE YEAR ENDED DECEMBER 31, 1975 Fund balance January 1, 1975 Revenue Accrued interest on sale of bonds Fund balance December 31, 1975 STATEMENT OF GENERAL LONG-TERM DEBT DECEMBER 31, 1975 Amount available and to be provided for the payment of general long-term debt Amount available in General Debt Service Fund Amount to be provided by future taxes Total available and to be provided General long-term debt payable - Serial bonds payable See accompanying notes to financial statements. 394 394 $ 394 394 $ 394 29,606 � 1I W CITY OF ST. ANTHONY, MINNESOTA NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1975 Note 1 - Summary of Significant Accounting Policies The accounting policies of the City of St. Anthony conform to generally accepted accounting principles as applicable to governmental units, except as explained in Notes 2 and 3. The following is a summary of the significant policies. Basis of accounting - The accrual basis of accounting is followed (with minor exceptions) by all funds other than the General Fund and Special Revenue Funds. The General Fund balance sheet is presented on the modified accrual basis of accounting and the operating statements are presented on the cash basis for comparison with budget. Financial statements of the Special Revenue Funds are presented on the modified accrual basis of accounting. Under the modified accrual basis of accounting: Revenues are recognized at the time cash is, or normally should be, received or when susceptible to accrual (measurable and available), although not yet received in cash. Expenditures are recognized when a liability, is incurred, except for interest on long-term debt which is recognized when due. Investments - Investments are stated at cost which approximates market. Inventories - Inventories held by the Enterprise Funds 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 - 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 3 - General Fund Operations The General Fund statements of cash receipts and disbursements do not give effect to accrued items of income and expense. Accordingly, these statements do not present the results of operations in conformance with generally accepted accounting principles. L. :9E CITY OF ST. ANTHONY, MINNESOTA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 1975 Note 4 - Metropolitan Waste Control Commission Under the terms of an agreement with the Metropolitan Waste Control Commission, the City will be repaid the reserve capacity charges advanced to the Commission in annual installments including interest through 1988. These advances were charged against net income of prior years and the repayment will be reflected as income as received. The receivable from the Metropolitan Waste Control Commission represents the City's share of equity in the City's and Minneapolis sewer system which was acquired by the Commission January 1, 1971. This receivable will be paid to the City by issuing credits, annually through 1999, against future sewer billings from the Commission. Note 5 - Bonded Debt The revenues of the Water Operating Fund are pledged for payment of the Water Revenue Bonds of 1961 and 1963. The City has three types of bonded debt outstanding at December 31, 1975. There are general obligation bonds, special assessment improvement bonds and water revenue bonds. The first type of bonds are payable solely from general property taxes. The second and third types are payable primarily from special assessments and utility revenue with any deficiency to be provided for by general property taxes. See the supplemental information for schedules of bond and interest maturities. Note 6 - Retirement Plans The City participates in a contributory pension plan (P.E.R.A.) administered by the State of Minnesota which covers substantially all employees. The combined annual costs of this plan, including amortization of estimated prior service cost, was $77,094 for the year ended December 31, 1975. Prior service cost is being amortized over a period of 40 years and is being funded as a percent of gross wages by all employers participating in the State association. It is the policy of the City to fund pension cost accrued. Note 7 - Vacation and Sick Leave Accrued vacation and sick leave are not recorded as liabilities at December 31, 1975. City employees are entitled to vacation and sick leave based on length of employment, and the payment thereof is treated as expense in the period paid. The amount of accrued leave at December 31, 1975 was not determined. F CITY OF ST. ANTHONY, MINNESOTA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 1975 Note 8 - 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. 31 32 CITY OF ST. ANTHONY, MINNESOTA BALANCE SHEETS - ALL FUNDS DECEMBER 31, 1975 ASSETS Cash (deficit) Petty cash and change funds Cash with paying agents Investments Accounts receivable Due from other funds Taxes receivable Special assessments receivable Prepaid expense Inventories, at lower of cost or market Property, plant and equipment, at cost less accumulated depreciation Amount available in General Debt Service Fund ?_oust to be provided by future revenue Total assets S J General FnnA 68,209 100 11,430 25,000 14,669 LIABILITIES,. RESERVES AND FUND BALANCE Liabilities Accounts payable Contracts payable Due to other funds DeD09itS payable Accrued liabilities Bonded indebtedness Bonds and interest due January 1, 1976 Future bond maturities Reserves Retained earnings Contributions Fund balance Appropriated Cnappropriated Special revenue funds $ 26,141 25 125,400 12,460 $ 164.026 $ 16,178 $ 1,479 49,375 830 19,437 26,099 25,467 31,397 61,705 51,467 'total liabilities, reserves and fund balance 1 --LU .408 S 164.026 7,102 897 241,538 1,220 414,753 1,844,905 $ 394 29,606 $ 320,754 2,385,515 S 735.568 52,431,667 S 394 30 000 $ 14,956 92,548 205,353 1,435,000 $ 318,857 $ 79,637 25,000 20,075 610,856 $ 8,625 36,958 3,413 21,900 175,000 212,088 527,273 1,446,410 $ 30,000 402,859 $ 394 _ 1,897 234,799 l S 320.754 $2,385.515_ 735.568 52.431.667 S 394 S 30.000 L. l_ L 33 General General Capital Special Municipal Public Debt Long project Assessment Liquor utility Service Term funds Fund Fund funds Fund Debt $ 1,897 $ 206,240 $( 20,265) $ 27,935 $ 394 77,675 205,353 21,900 782,000 312,600 318,857 6,278 13,935 222,210 92,548 830 1,422 1,091,674 7,102 897 241,538 1,220 414,753 1,844,905 $ 394 29,606 $ 320,754 2,385,515 S 735.568 52,431,667 S 394 30 000 $ 14,956 92,548 205,353 1,435,000 $ 318,857 $ 79,637 25,000 20,075 610,856 $ 8,625 36,958 3,413 21,900 175,000 212,088 527,273 1,446,410 $ 30,000 402,859 $ 394 _ 1,897 234,799 l S 320.754 $2,385.515_ 735.568 52.431.667 S 394 S 30.000 L. l_ L 33 34 CITY OF ST. ANTHONY, MINNESOTA Face amount of securities pledged Cash Investments as collateral Cash State Bank of St. Anthony Village, St. Anthony, Minnesota General Fund checking account $ 330,816 Liquor Fund checking account ( 20,265) Certificates of deposit $ 920,000 51,250 000 Fidelity Bank and Trust, Minneapolis, Minnesota Certificates of deposit 300,000 S 235 000 Total cash S 310,551 S1 ,220 000 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. YEAR ENDED DECEMBER 31, 1975 Fund General Fund Special revenue funds State -Aid Fund Community Services Funds Revenue Sharing Fund Special Fire Department Fund Special Police Department Fund Capital project funds Capital Improvement Fund Equipment Fund Special Assessment Fund Construction accounts Debt service accounts Municipal Liquor Fund Public Utility funds Operating Funds Water Sewer Water Construction Fund General Debt Service Fund Total Cash Cash Balance Balance January 1, December 31, 1975 Receipts Disbursements 1975 _. $ 106,817 $ 941,252 $ 979,860 $ 68,209 ( 290) 87,752 85,817 1,645 ( 6,241) 40,069 40,032 ( 6,204) 485 308,329 281,670 27,144 8,343 87,912 95,900 355 6,846 70,251 73,896 3,201 1,800 1,800 60,916 60,819 97 139,052 513,881 676,953 ( 24,020) 130,221 3,532,322 3,432,283 230,260 29,116 2,712,327 2,761,708 ( 20,265) ( 15,768) 1,006,332 954,758 35,806 7,983 332,917 348,939 ( 8,039) 91 211,577 211,500 168 394 394 $ 406,655 $9,908,031 $10,Q04,135 S 310 451 CITY OF ST, ANTHONY, MINNESOTA BONDS PAYABLE - ALL FUNDS DECEMBER 31, 1975 Issue date Special Assessment Fund 1/1/77 Improvement Bonds of 1956 1/1/78 Series A 1/1/77-80 August 1, 1976 8/l/5E Series B August 1, 1976 8/1/5E Total Improvement Bonds of 1956 Improvement Bonds of 1957 October 1, 1976 10/1/57 Improvement Bonds of 1960 Series B -II January 1, 1977 11/1/61 Series B -III January 1, 1977 10/1/62 Total Improvement Bonds of 1960, Series B Improvement Bonds of 1973 March 1, 1976 6/1/73 March 1, 1977 March 1, 1978 March 1, 1979 March 1, 1980 March 1, 1981 March 1, 1982 March 1, 1983 March 1, 1984 March 1, 1985 Total Improvement Bonds of 1973 Improvement Bond Redemption Improvement Bonds of 1961 January 1,1977 10/1/61 Improvement Bonds of 1962 $10,000 per year 10/1/62 Improvement Bonds of 1963 $20,000 per year 7/1/63 Interest rate 4.00% 4.00 4.80 4.00 3,70 4.05 4.10 4.15 4.20 4.15 4.30 4.35 4.40 4.45 4.50 Maturity date 8/1/76 8/1/76 10/1/76 3/1/76 3/1/77 3/1/78 3/1/79 3/1/80 3/1/81 3/1/82 3/1/83 3/1/84 3/1/85 4.00 1/1/77 3.70 1/1/78 3.50 1/1/77-80 35 Principal $ 10,000 5,000 15,00 S 5,000 $ 15,000 5,000 20,000 $ 65,000 65,000 65,000 65,000 65,000 65,000 65,000 65,000 65,000 90.000 675,000 20,00 20,000 $ 80,000 36 CITY OF ST, ANTHONY, MINNESOTA BONDS PAYABLE - ALL FUNDS (CONTINUED) DECEMBER 31, 1975 Total Improvement Bond Redemption Total Special Assessment Fund $ 600,000 $ 720,000 $1,435,000 General Long -Term Debt Certificates of Indebtedness $10,000 per year 5/1/75 7.00 11/1/76-78 $ 30,000 Water Revenue Bonds General Obligation Waterworks Bonds of 1961 $25,000 per year 1/1/62 4.00 1/1/77-79 $ 75,000 Water Utility Revenue Bonds of 1963 $25,000 per year 10/1/63 3.50 10/l/76-79 $ 100,000 Total water revenue bonds $ 175,000 Total bonds payable - All funds S1.640,000 Note - January 1, 1976 maturities are considered matured December 31, 1975. Issue Interest Maturity date rate date Principal Special Assessment Fund (Continued) Improvement Bond Redemption (Continued) Improvement Bonds of 1968 January 1, 1977 10/1/68 4.307 1/1/77 $ 60,000 January 1, 1978 4.30 1/1/78 50,000 January 1, 1979 4.60 1/1/79 50,000 $40,000 per year 4.60 1/1/80-82 120,000 $40,000 per year 4.70 1/1/83-84 80,000 $40,000 per year 4.80 1./1/85-86 80,000 $40,000 per year 4.90 1/1/87-90 160,000 Total Improvement Bond Redemption Total Special Assessment Fund $ 600,000 $ 720,000 $1,435,000 General Long -Term Debt Certificates of Indebtedness $10,000 per year 5/1/75 7.00 11/1/76-78 $ 30,000 Water Revenue Bonds General Obligation Waterworks Bonds of 1961 $25,000 per year 1/1/62 4.00 1/1/77-79 $ 75,000 Water Utility Revenue Bonds of 1963 $25,000 per year 10/1/63 3.50 10/l/76-79 $ 100,000 Total water revenue bonds $ 175,000 Total bonds payable - All funds S1.640,000 Note - January 1, 1976 maturities are considered matured December 31, 1975. 37 r CITY OF ST. ANTHONY, MINNESOTA Interest Total STATEMENT OF CHANGES IN BONDED INDEBTEDNESS $ 276,191 YEAR ENDED DECEMBER 31 1975 52,478 197,478 r Outstanding 46,576 181,576 Outstanding January 1, 1975 Issued Redeemed December 31, 1975 Special Assessment Fund $1,680,000 $ -0- $ 245,000 $1,435,000 General Long -Term Debt -0- 30,000 -0- 30,000 Water Revenue Bonds 220,000 -0- 45,000 175,000 X1,900.000 S 30,000 $ 290,000 $1,640.000 Year 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1999 Year 1976 1977 1978 DEBT SERVICE REQUIREMENTS ALL FUNDS DECEMBER 31, 1975 Special assessment bonds Principal Interest Total $ 215,000 $ 61,191 $ 276,191 145,000 52,478 197,478 135,000 46,576 181,576 125,000 40,862 165,862 105,000 35,927 140,927 105,000 31,308 136,308 105,000 26,656 131,656 105,000 21,933 126,933 105,000 17,176 122,176 130,000 11,785 141,785 40,000 7,840 47,840 40,000 5,880 45,880 40,000 3,920 43,920 40,000 1,960 41,960 S1 435,000 $ 365,492 51,800,492 Certificates of Indebtedness Principal Interest Total $ 10,000 $ 3,150 $ 13,150 10,000 1,400 11,400 10,000 700 10,700 S 30,000 j====5 250 L 35 250 Water revenue bonds Principal Interest Total $ 50,000 $ 6,500 $ 56,500 50,000 4,625 54,625 50,000 2,750 52,750 25,000 875 25,875 $ 175.000 S 14750 S 189,750 `" Note - January 1 maturities are considered matured December 31 of the preceding year. r CITY OF ST. ANTHONY MINNESOTA ASSESSED VALUATIONS TAX LEVIES AND MILL RATES (Shown by year of tax collectibility) Mill rates General Fund Bonds and interest Total 6.377 .883 7.260 8.085 .738 8. 23 8.458 .707 9`165 9.783 .728 10.511 EMPLOYEES' SURETY BONDS DECEMBER 31, 1975 Harry Lekson Assessor $ 500 Carol Johnson Clerk -Treasurer 100,000 All employees are covered by an honesty blanket position bond of $100,000. I 1973 1974 1975 1976 Assessed valuations $33,370,218 $33.918.351 $35.370.442 $37,901.446 Tax levies General Fund $ 212,816 $ 274,230 $ 299,163 $ 370,790 Bonds and interest 29,451 25,032 25,007 27,589 Total $ 242.267 $ 299,262 1__324,17o S 398,974 Mill rates General Fund Bonds and interest Total 6.377 .883 7.260 8.085 .738 8. 23 8.458 .707 9`165 9.783 .728 10.511 EMPLOYEES' SURETY BONDS DECEMBER 31, 1975 Harry Lekson Assessor $ 500 Carol Johnson Clerk -Treasurer 100,000 All employees are covered by an honesty blanket position bond of $100,000. I