HomeMy WebLinkAbout1978 CAFRCITY OF ST. ANTHONY MINNESOTA
FINANCIAL STATEMENTS
DECEMBER 31, 1978
CITY OF ST. ANTHONY MINNESOTA
ELECTED AND APPOINTED OFFICIALS
DECEMBER 31 1978
Elected
Mayor - Sally Haik
Council
Richard Letourneau
William Sauer
Clarence Ranallo
Robert Sundland
Appointed
Manager - James W. Fornell
Clerk -Treasurer - Carol Johnson
Term of office
expires on the first
official business
day of January
1980
1980
1982
1982
CITY OF ST. ANTHONY, MINNESOTA
TABLE OF CONTENTS
Pages
Comments
I
Accountants' opinion I
Combined financial statements
Balance sheet - All fund types 2
Statement of revenue, expenditures and changes in fund balance
Governmental fund types 4
Statement of income, expenses and changes in retained earnings
Proprietary fund types 6
Statement of changes in financial position
Proprietary fund types
7
Statement of indebtedness 8
GOVERNMENTAL FUND TYPES
General Fund
Balance sheet 11
Statement of changes in fund balance 11
Statement of revenue - Actual compared with budget estimates 12
Statement of expenditures - Actual compared with budget estimates 14
Special revenue funds
Combined balance sheet
18
Combined statement of revenue, expenditures
and fund balance
20
Statement of revenue, expenditures and fund
balance
General Reserve Fund
22
Community Development Fund
22
State -aid Maintenance Fund
23
CETA Fund
23
Home Improvement Grant Fund
24
Revenue Sharing Fund
24
Special Fire Department Fund
25
Special Police Department Fund
25
Capital projects funds
Combined balance sheet
26
Combined statement of revenue, expenditures
and fund balance.
26
Special Assessment Fund
Combined balance sheet
27
Combined statement of revenue, expenditures
and fund balance
28
Combined statement of receipts and disbursements
29
General Debt Service Fund
Balance sheet
30
Statement of revenue, expenditures and fund
balance
30
CITY OF ST. ANTHONY, MINNESOTA
TABLE OF CONTENTS (CONTINUED)
PROPRIETARY FUND TYPES
Municipal Liquor Fund
Pages
Balance sheet
31
Statement
of
income and retained earnings
32
Statement
of
changes in financial position
33
Statement
of
gross profit
34
Statement
of
operating expenses
35
Public utility funds
Combined balance sheets
36
Statement of changes in retained
earnings and contributions
Water Operating Fund
40
Sewer Operating Fund
40
Combined statements of income and
expense -
Operating funds
41
Combined statements of changes in
financial
position - Operating funds
42
Statement of income and retained
earnings -
Water Construction Fund
43
Statement of changes in financial
position
- Water Construction Fund
43
NOTES TO FINANCIAL STATEMENTS
Notes to financial statements
44
SUPPLEMENTAL INFORMATION
Statement of cash, temporary investments and security for deposits 48
Summary statement of receipts and disbursements - All funds 49
Bonds payable - All funds 50
Statement of changes in bonded indebtedness 51
Debt service requirements 51
Tax levies and collections 52
Special assessment levies and collections 52
Assessed valuations, tax levies and mill rates 53
Employees' surety bonds 53
F
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, including the mayor who is chairman. The City
manager is appointed by the council.
GENERAL FUND
The General Fund is used to account for all revenues and the activities financed
by them which are not accounted for in a special fund. The principal sources of
revenue are property taxes, licenses and permits, intergovernmental revenue, fines
and forfeitures and transfers. Expenditures are for general government, public safety,
public works, park maintenance and other functions. A plan of financial operation of
the General Fund is set forth in the annual budget adopted by the Council. Revenue
exceeded expenditures by $130,657 during 1978 and increased the fund balance to
$255,200 at December 31, 1978. A condensed summary of revenue and expenditures
compared with the budget for 1978 is shown below.
Revenue
General property taxes
Licenses and permits
Intergovernmental revenue
Fines, forfeitures and penalties
Charges for current services
Other revenue
Transfers from other funds
Revenue collected for other agencies
Expenditures
General government
Public safety
Public works
Health, sanitation and waste removal
Park maintenance
Other functions
Transfers to other funds
Remittances to other agencies
SPECIAL REVENUE FUNDS
Budget Actual
$ 425,692 $ 443,330
13,500
26,563
260,179
275,508
18,605
24,294
5,500
6,352
29,417
28,295
418,501
434,230
2.440
11.171.394 $1.241.012
$ 234,671
484,393
216,763
24,175
26,252
185,140
$ 204,894
477,709
207,415
18,385
22,221
173,568
3,821
2,342
$1.171 394 $1 110,355
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
SPECIAL REVENUE FUNDS (CONTINUED)
General Reserve Fund - The General Reserve Fund was established to accumulate
resources from the Special Assessment Fund, which are available to be appropriated
by Council. Financing was provided in 1978 by a transfer of $337,392 from the
Special Assessment Fund. During the year $7,980 was transferred to the Sewer
Operating Fund for the purchase of capital outlay items. The fund balance was
$338,399 at December 31, 1978.
Community Development Fund - This fund was established to account for revenue
received from the Federal Government in accordance with the Housing and Community
Development Block Grant Program. Expenditures can only be made from this fund for
approved projects as outlined in the Act. As of December 31, 1978, there is no
fund balance as all expenditures are reimbursed.
State -aid Maintenance Fund - Gasoline tax collections apportioned to the City from
the State of Minnesota for street maintenance are accounted for in this fund.
Expenditures during'1978 were for commodities to repair and maintain City streets.
The fund balance at December 31, 1978, was $12,085.
CETA Fund - Salaries and related expenditures that are reimbursed by Federal grants
through Hennepin and Ramsey Counties are accounted for in this fund. The fund
balance was $5,718 at December 31, 1978.
Home Improvement Grant Fund - This fund accounts for revenue received from the
Minnesota Housing Finance Agency. Expenditures are to finance home improvements
within the City. This fund was closed during the year.
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 be made from the Fund only as outlined in the Act.
The City's share of the Federal Revenue Sharing Grant for 1978 was $43,967. During
1978, $87,766 was transferred to the General Fund. $66,736 was transferred for
current expenditures of the public safety and public works departments and $21,030
for the acquisition of capital outlay items for these departments.
In addition $1,264 of anti -recession funds received in 1977 was transferred to the
General Fund for current public safety expenditures.
Special Fire Department Fund - This fund was established to account for the State of
Minnesota insurance premium tax revenue and other monies appropriated for the benefit
of the City Fire Department. During 1978, $12,837 was received from the State of
Minnesota for insurance premium taxes. Expenditures were $12,764, a transfer to the
General Fund of $12,250 and capital outlay of $514. As of December 31, 1978 the
fund balance was $19,073.
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. Police aid received in 1978 was $20,531 and
$14,500 was transferred to the General Fund. The fund balance was $40,612 at
December 31, 1978.
CAPITAL PROJECT FUNDS
These funds were established to account for the resources required for the
acquisition of capital facilities by the City. Following is a brief description
of each fund.
II
r
CAPITAL PROJECT FUNDS (CONTINUED)
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 $247,588, from the State of Minnesota, is the City's
unencumbered construction allotment balance at December 31, 1978. This allotment is
available only for approved projects.
Capital Improvment 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 and the sale of equipment will finance these acquisitions.
No expenditures were made in 1978 and the fund balance of $8,304 at December 31, 1978
is available for acquisition of capital outlay items.
SPECIAL ASSESSMENT FUND
The Special Assessment Fund is established to account for assessments levied to
finance improvements or services deemed to benefit the properties against which the
assessments are levied.
Revolving Account - During the year this account was established to provide temporary
financing of construction projects. Financing was provided by a transfer from the
Construction Account.
Construction Account - This account was established to finance improvements deemed
to benefit property in the City. Primarily, the transactions accounted for are the
proceeds from the sale of bonds and other revenue and expenditure of the revenue for
construction work performed.
Debt Service Account - This account was established to account mainly for the
collection of assessments against benefited property owners and expenditure 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.
GENERAL DEBT SERVICE FUND
This fund was established to accumulate resources, primarily property taxes, for
the redemption of certificates of indebtedness and interest thereon. During 1975,
certificates in the amount of $30,000 were issued. As of December 31, 1978 these
certificates were completely retired and the fund balance of $1,425 was unappropriated.
MUNICIPAL LIQUOR FUND
This fund is maintained to account for the operations 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. Following is a condensed summary of liquor
store operations for 1978, 1977 and 1976..
III
MUNICIPAL LIQUOR FUND.(CONTINUED)
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
1978
Percent
of sales
$2,284,541 100.00
1,379,413 60.38
$ 905,128 39.62
548,824 24.02
$ 356,304 15.60
1977
Percent
of sales
$2,062,428 100.00
1,256,670 60.93
$ 805,758 39.07
506.382 24.55
$ 299,376 14.52
Percent
of sales
$1,968,468 100.00
1,200,000 60.96
$ 768,468 39.04
531,327 26.99
$ 237,141 12.05
36,369 1.59 23,965 1.16 20,960 1.06
S 392.67 17.19 S 334 15.68 S 258.101 13.11
1978 1977 1976
Percent Percent Percent
of net of net of net
income income income
S 275,000
6.69
70,03 $ 275,000 85.05 S 300.000 116.23
Water Operating Fund - This fund accounts for the operations of the City -owned water
system. The fund had income of $37,057 in 1978. Income of the fund is pledged for
payment of the Water Revenue Bonds of 1963.
Sewer Operating Fund - This fund accounts for the operations of the City -owned sewer
system. The fund had income of $21,200 for 1978.
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 issuingdisposal charges from the Commission. The amount payable
by the Commission in future years of $126,863 is included as a receivable on the
balance sheet.
IV
r
PUBLIC UTILITY FUNDS (CONTINUED)
A condensed summary of operations for the Water and Sewer
Operating
Funds for the
last three years is presented below:
f
1978
1977
1976
Water Operating Fund
Operating income
$ 159,463
$ 163,621
$ 193,732
Operating expenses (excluding depreciation)
(109,141)
(107,385)
( 88,342)
Other income and (expense)
16,065
9,093
6,878
Income before depreciation
$ 66,387
$ 65,329
$ 112,268
Depreciation (non -contributed
assets only)
29,330)
( 25,327)
( 16,249)
Net income
$ 37.057
$ 40.002
S 96,019
Sewer Operatin£ Fund
Operating income $ 195,872 $ 206,062 $ 151,731
Operating expenses (excluding depreciation) (208,308) (196,874) (170,456)
Other income and (expense) 37,170 12,261 12,906
Income (loss) before depreciation $ 24,734 $ 21,449 $( 5,819)
Depreciation (non -contributed
assets only) 3,534) ( 2,876) 2,056)
Net income (loss) $ 21.200 1=18=e:=573 $( 7,875)
Operating expenses for 1978 include disposal charges of $162,277 as compared with
$157,266 and $139,323 in 1977 and 1976 respectively.
Water Construction Fund - Proceeds from the issuance of Water Revenue Bonds of 1961
and 1963 were received in this fund and used to finance the cost of various water
improvements. A balance of $61,530 at December 31, 1978 is available for future
construction.
U
L_
r -
GEORGE M. HAN5EN COMPANY
Certified Public Accountants
SOUTH PLAZA BUILDING
MINNEAPOLIS, MINNESOTA 55416
Honorable City Council
City of St. Anthony, Minnesota
We have examined the accompanying financial statements of the various funds of
the City of St. Anthony, Minnesota for the year ended December 31, 1978, shown
on Pages 2 through 47. 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 accompanying financial statements present fairly the financial
position of the various funds of the City of St. Anthony, Minnesota at
December 31, 1978, and the results of operations of such funds and the changes in
financial position of the proprietary funds for the year then ended, in conformity
with generally accepted accounting principles applied on a basis consistent with
that of the preceding year.
The accompanying supplemental schedules and related information presented on
Pages 48 to 53 are not necessary for a fair presentation of the financial
statements, but are presented as additional analytical data. This information
has been subjected 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 statements
taken as a whole.
August 2, 1979
. 7rTc^oG
2
CITY OF ST. ANTHONY, MINNESOTA
COMBINED BALANCE SHEET
ALL FUND TYPES
DECEMBER 31, 1978
Governmental
Special
General Revenue
Fund Funds
ASSETS
Cash and temporary investments
$ 278,695
$ 411,437
Petty cash and change funds
100
Cash with paying agents
22,503
26,924
Accounts receivable
11,130
62,232
Accrued interest receivable
22,215
1,694
Due from other funds
7,646
5,808
Taxes receivable
Unremitted
4,185
Delinquent
4,791
Allowance for delinquent taxes receivable
( 4,791)
Special assessments receivable
Unremitted
129
Delinquent
Deferred
23,681
Prepaid expense
255,200
469,615
Inventories, at lower of cost or market
Property, plant and equipment, at cost less
accumulated depreciation
Total assets
$ 323.971
S 503.287
LIABILITIES AND FUND EQUITY
Liabilities
Accounts payable
$ 16,837
$ 5,054
Contracts payable
Due to other funds
22,503
26,924
Deposits payable
Accrued liabilities
29,431
1,694
Deferred gain
Bonded indebtedness
Matured bonds and interest
Future bond maturities
Fund equity
Contributed
Retained earnings
Fund balance
Appropriated
Unappropriated
255,200
469,615
Total liabilities and
fund equity $ 323.971 $ 503.287
See accompanying notes to financial statements.
i
Fund Types
i General
Capital Special Debt
Project Assessment Service
Funds Fund Fund
$ 8,225
247,588
31,396
S 287.209
$ 247,588
39,621
$ 287 209
$ 634,720
62,340
12,739
17
1,815
9,133
581,561
$1,302,325
$ 593
47,563
8,838
62,340
940,000
205,246
37,745
$1,302.325
$ 7,816
82
112
( 112)
S 7.898
$ 6,473
1,425
S 7,898
3
Proprietary Fund Types
Municipal Public Total
Liquor Utility (Memorandum
Fund Funds only)
$ 48,074
84,175
4,936
39,850
270,664
392,277
$ 839,976
$ 80,724
26,770
732,482
$ 839,975
$ 292,714
25,500
245,761
11,395
9,255
1,492
1,743,946
5,2,330.063
$ 4,126
4,246
44,843
3,675
126,863
25,500
25,000
1,315,084
780,726
$2,330,063
$1,681,681
84,275
87,840
571,647
22,215
68,984
4,284
4,903
( 4,903)
1,944
9,133
605,242
49,105
272,156
2,136,223
55,594,729
$ 107,334
47,563
68,984
44,843
61,570
126,863
87,840
965,000
1,315,084
1,513,208
452,834
803,606
$5.594,729
LA
CITY OF ST. ANTHONY, MINNESOTA
General
Fund
Revenue
General property taxes $ 443,330
Licenses and permits 26,563
Intergovernmental revenue 275,508
Fines and forfeitures 24,294
Charges for current services 6,352
Other revenue 28,295
Transfers from other funds 434,230
Revenue collected for other agencies 2,440
Total revenue $1,241,012
Expenditures
General government
$
204,894
Public safety
477,709
Public works
207,415
Health, sanitation and waste removal
18,385
Park and recreation
22,221
Improvement costs
Streets
Park and recreation
Debt service
Principal
Interest and service charges
Unallocated expenditures
173,568
Transfers to other funds
3,821
Remittance to other agencies
$1,110,355
2,342
Total expenditures
Revenue over (under) expenditures
$
130,657
Fund balance January 1
124,543
Fund balance December 31
$ 255,200
See accompanying notes to financial statements.
Special Capital Special
Revenue Project Assessment
Funds Funds Fund
$ 471
$ 191,272
17,187
340,346
$ 548,805
$ 514
14,828
28,552
73,230
124,012
$ 241,136
$ 307,669
161,946
S 469,615
$ 71,172
929 115,647
97,378
$ 72,101 $ 213,496
$ 80,559
$ 287.209 S 242 991
General
46,789
Debt Service
4,323
$ 47,025
386,031
$ 47,025
$ 517,702
$ 25,076
$( 304,206)
262.133
547.197
$ 287.209 S 242 991
General
Total
Debt Service
(Memorandum
Fund
only)
$ 9,439
$ 453,240
26,563
1,632
539,584
24,294
6,352
162,058
871,954
2,440
$ 11,071
$2,086,485
$ 204,894
478,223
222,243
18,385
22,221
80,559
28,552
$ 10,000
10,000
471
47,260
251,121
560,889
2,342
$ 10,471
$1,926,689
$ 600 $ 159,796
825 1,096,644
S 1,425 $1.256.440
0
R
CITY OF ST. ANTHONY,.MINNESOTA
COMBINED STATEMENT OF INCOMEEXPENSES AND CHANGES IN RETAINED EARNINGS
PROPRIETARY FUND TYPES
YEAR ENDED DECEMBER 31, 1978
Total
Liquor
Public Utility Funds
(Memorandum
Fund
Operating
Construction
only)
Sales and cost of sales
Sales
$2,284,541
$2,284,541
Cost of sales
1,379,413
1,379,413
Gross profit
$ 905,128
$ 905,128
Operating income
User charges
$ 349,785
$ 349,785
Connection charges
3,072
3,072
Other
2,478
2,478
Operating income
$ 355,335
$ 355,335
Total gross profit and
operating income
$ 905,128
$ 355,335
$1,260,463
Operating expenses
Personal services
$ 367,936
$ 72,253
$ 440,189
Contractual services
70,265
39,625
109,890
Commodities
26,418
13,917
40,335
Other charges
58,218
29,377
87,595
Disposal charges
162,277
162,277
Depreciation
25,987
76,639
102,626
Operating expenses
$ 548,824
$ 394,088
$ 942,912
Operating income (loss)
$ 356,304
$( 38,753)
$ 317,551.
Other income and (expense)
Interest earned
$ 22,094
$ 4,414
$ 26,508
Commissions
$ 17,840
17,840
Check.cashing income less expense
18,385
18,385
Credits received
8,778
8,778
Refunds received
23,206
23,206
Miscellaneous income
1,969
2,994
4,963
Interest expense
( 2,730)
( 2,730)
Loss on disposal of assets
( 1,107)
( 1,107)
Miscellaneous expense
( 1,825)
( 1,825)
Total other income and
(expense)
$ 36,369
$ 53,235
$ 4,414
$ 94,018
Net income
$ 392,673
$ 14,482
$ 4,414
$ 411,569
Credit from transfer of depreciation
to contributions in aid to
construction
43,775
43,775
Transfer from General Reserve Fund
7,980
7,980
Transfers to General Fund
( 275,000)
( 20,000)
( 295,000)
Retained earnings January 1
614,809
672,959
57,116
1,344,884
Retained earnings December 31
S732,482
S 719.196
S 61,530
S1.513,208
See accompanying notes to financial
statements.
CITY OF ST. ANTHONY, MINNESOTA
COMBINED STATEMENT OF CHANGES IN FINANCIAL POSITION
PROPRIETARY FUND TYPES
YEAR ENDED DECEMBER 31 1978
Liquor Public Utility Funds
Fund Operating Construction
Source of Funds
Operations
Net income
$ 392,673
$ 58,257
Depreciation
25,987
32,864
Loss on disposal of assets
901
Accounts receivable
$ 418,660
$ 92,022
Transfer from General Reserve
Fund
7,980
Increase in meter deposits
2,965
Reduction of long-term receivable
(
4,421
Decrease in working capital
983
$ 418.660
Application of funds
Transfer to General Fund $ 275,000
Purchase of property and equipment 56,582
Reduction of long-term debt
Reduction of deferred gain
Increase in working capital 87,078
Various elements of net increase
(decrease) in working capital
Cash and temporary investments
$
52,180
Petty cash and change funds
7,000
Cash with paying agent
Accounts receivable
(
13,838)
Due from other funds
Prepaid expense
13,464
Inventories
16,058
Accounts payable
(
16,390)
Matured bonds and interest
Current portion of long-term debt
Accrued liabilities
(
1,396)
Due to Metropolitan Waste
Control Commission
Due to other funds
30,000
Increase in working capital
S
87.078
See accompanying notes to financial statements.
S 108.371
$ 20,000
56,196
25,000
3,561
3,614
$ 108.371
$ 4,414
$ 4,414
S 4.414
$ 4,414
S 4.414
$(101,850) $
( 500)
19,194
10,045
8,505
535
6,827
500
25,000
71
8,688
25,616
2 631
4,414
S 4,414
7
Total
(Memorandum
only)
$ 455,344
58,851
901
$ 515,096
7,980
2,965
4,421
983
531 4
$ 295,000
112,778
25,000
3,561
95,106
$ 531.445
$( 45,256)
7,000
( 500)
5,356
10,045
21,969
16,593
( 9,563)
500
25,000
( 1,325)
8,688
55,616
S 94,123
U
CITY OF ST. ANTHONY, MINNESOTA
COMBINED STATEMENT OF INDEBTEDNESS
DECEMBER 31, 1978
Final
Interest Issue Maturity
rates date date
1978
Percent of
cash received
paid by
tax levies
Bonded indebtedness
Special Assessment Bonds
1973 Improvement
4.20-4.50!
6/1/73
3/1/85
None
1963 Improvment
3.50
7/1/63
1/1/80
None
1968 Improvement
4.60-4.90
10/1/68
1/1/90
None
Revenue Bonds
Water Revenue Bonds
of 1963
3.50
10/1/63
10/1/79
None
Total bonded indebtedness
Bonds Due in 1979
Authorized Issued Redeemed Outstanding Principal InteresC
$ 675,000
815,000
960,000
$2,450,000
$ 345,000
$2.795,000
$ 675,000
815,000
960,000
$2,450,000
$ 345,000
$2.795,000
$ 195,000
795,000
520,000
$1,510,000
$ 320,000
S1 830,000
$ 480,000
20,000
440,000
$ 940,000
$ 25,000
$—.965. 000
$ 65,000
20,000
40,000
$ 125,000
$ 25,000
$ 19,553
350
20,960
$ 40,863
$ 875
S 41,738
0
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CITY OF ST. ANTHONY, MINNESOTA
GENERAL FUND
BALANCE SHEET
DECEMBER 31, 1978
ASSETS
Cash and temporary investments
$278,695
Petty cash and change funds
100
Accounts receivable
11,130
Accrued interest receivable
22,215
Due from other funds
92
Community Development Fund
1,500
General Debt Service Fund
6,146
Taxes receivable
12,412
Unremitted
4,185
Delinquent
4,791
Allowance for delinquent taxes receivable
4,791)
Total assets
$323.9 1
LIABILITIES AND FUND BALANCE
Liabilities
Accounts payable
$ 16,837
Accrued liabilities
29,431
Due to other funds
General Reserve Fund
2,749
State -aid Maintenance Fund
92
Special Police Department Fund
27
Capital Improvement Fund
74
Special Assessment Fund
12,412
Water Operating Fund
5,166
Sewer Operating Fund
633
Water Construction Fund
1,350
Fund balance - Unappropriated
255.200
Total liabilities and fund balance $323,9ZI
STATEMENT OF CHANGES IN FUND BALANCE
YEAR ENDED DECEMBER 31, 1978
Budget Actual
Revenue $1,171,394
$1,241,012
Expenditures 1,171,394 12110,355
Revenue over expenditures $ -0- $ 130,657
Fund balance January 1 124,543 124,543
Fund balance December 31 L 124,543 $ 255,200
See accompanying notes to financial statements.
11
12
CITY OF ST, ANTHONY, MINNESOTA
General property taxes
Taxes
Fiscal disparities distribution
Tax forfeit sale
Penalties and interest on taxes
Licenses and permits
Licenses
Permits
Intergovernmental revenue
State property tax relief fund - Homestead credit
Local government aid
Attached machinery aid
Other state grants and aid
Police - Training reimbursement
Civil defense
Dutch elm
County aid
Aid to municipalities
Street maintenance
Metro Council
Section 8 Housing Grant
Planning Assistance Grant
Fines, forfeitures and penalties
Charges for current services
General government
Public safety
Public works
Parks and recreation
See accompanying notes to financial statements.
Budget Actual
$ 432,106
8,786
$ 423,892 $ 440,892
847
1,800 1.,591
$ 425,692 $ 443,330
$ 9,500
$ 8,011
4,000
18,552
$ 13,500
$ 26,563
$ 73,400
$ 75,314
177,208
177,208
1,202
2,271
3,056
2,000
2,555
2,000
2,742
918
3,300
4,232
4,909
3,372
$ 260,179 $ 275,508
$ 18,605 $ 24,294
$ 2,201
659
1,086
2,406
$ 5,500 $ 6,352
13
L CITY OF ST. ANTHONY,
MINNESOTA
GENERAL FUND
STATEMENT OF REVENUE - ACTUAL COMPARED WITH BUDGET ESTIMATES
(CONTINUED)
YEAR ENDED DECEMBER
31, 1978
i
Budget
Actual
' Other revenue
Interest earned
$ 6,113
Rental of property
4,220
Special assessments
81
Sale of property and equipment
1,564
Other
62
Refunds and reimbursements
Independent School District No. 282
Labor and commodities
4,417
Tennis court improvement
1,973
Community Services Program deficit
2,800
Municipal Liquor Fund
3,215
Administrative fee - Community Development
Block Grant
1,500
Insurance claims and refunds
1,740
Other
610
$ 29,417
$ 28,295
Transfers from other funds
Home Improvement Grant Fund
$ 229
Revenue Sharing Fund
$ 89,030
89,030
Special Fire Department Fund
4,000
12,250
Special Police Department Fund
7,250
14,500
Municipal Liquor Fund
275,000
275,000
Water Operating Fund
24,221
24,221
Sewer Operating Fund
19,000
19,000
$ 418,501
$ 434,230
Revenue collected fbr other agencies
Permit surcharge and sales tax collected
$ 2,440
Total revenue
51.171.394
$1,241,012
I
See accompanying notes to financial statements.
L.
14
CITY OF ST. ANTHONY, MINNESOTA
GENERAL FUND
STATEMENT OF EXPENDITURES - ACTUAL COMPARED WITH BUDGET ESTIMATES
YEAR ENDED DECEMBER 31, 1978
Budget Actual
General government
Mayor and council
Personal services $ 10,800 $ 10,650
Contractual services 2,675 1,304
Commodities 60 40
Other charges 75 26
$ 13,610 $ 123020
Manager
Personal services $ 33,000 $ 30,350
Contractual services 1,325 1,170
Other charges 250 249
$ 34,575 $ 31,769
Municipal court
Personal services $ 1,340 $ 1,288
Contractual services 16,405 13,528
$ 17,745 $ 14,816
Elections
Personal services $ 1,737 $ 1,737
Contractual services 363 171
Commodities 150 128
Other charges 50 44
$ 2,300 $ 21080
Assessing
Personal services $ 13,874 $ 6,798
Contractual services 285 262
Commodities 426 426
Other charges 50 43
$ 14,635 $ 7,529
Accounting - Finance
Personal services $ 22,200 $ 21,531
Contractual services 3,750 3,372
Commodities 4,235 4,140
Other charges 3,400 3,377
$ 33,585 $ 32,420
Independent accounting and audit
Contractual services $ 5,000 $ 4,950
Legal - Contractual services $ 21,850 $ 13,504
See accompanying notes to financial statements.
15
CITY OF ST. ANTHONY,
i
MINNESOTA
GENERAL FUND
j STATEMENT OF EXPENDITURES - ACTUAL COMPARED
WITH BUDGET
ESTIMATES
(CONTINUED)
YEAR ENDED DECEMBER
31 1978
Budget
Actual
General government (Continued)
Planning and zoning
Contractual services
$
7,085
$
2,707
Commodities
25
23
Other charges
40
$ 7,150
$
2.730
General government buildings
Personal services
$
13,300
$
11,702
Contractual services
37,500
38,061
Commodities
800
797
Other charges
1,200
1,167
Capital outlay
31,421
31,349
$
84,221
$
83,076
Total general government
$
234,671
$
204,894
Public safety
Police protection
Personal services
$
240,530
$
238,033
Contractual services
7,347
5,240
Commodities
3,200
3,197
Other charges
200
190
Capital outlay
9.308
8327
$
260,585
1_254,987
Fire protection
Personal services $ 203,152 $ 203,812
Contractual services 3,250 3,170
Commodities 4,400 4,353
Other charges 364 364
Capital outlay 347 342
$ 211,513 $ 212,041
Protective inspection
Personal services $ 3,800 $ 3,493
Contractual services 155 123
Commodities 140 139
Other charges 90 85
4,185 $ 3,840
Civil defense
l_ Personal services $ 4,250 $ 4,351
Contractual services 710 479
Commodities 100 90
Capital outlay 1,000 979
$ 6,060 $ 5,899
See accompanying notes to financial statements.
16
CITY OF ST. ANTHONY, MINNESOTA
Budget Actual
Public safety (Continued)
Animal control
Contractual services $ 2,000 $ 919
Commodities 50 23
$ 2,050 $ 942
Total public safety
$ 484,393
$
477,709
Public works
Engineering - Contractual services
$
2,750
$
488
Street maintenance
$
115,000
$
114,523
Personal services
4,800
4,405
Contractual services
12,300
12,240
Commodities
740.
256
Other charges
Capital outlay
4,800
4,195
$ 137,640
$
135,619
Maintenance garage
$
17,120
$
17,259
Personal services
3,200
3,070
Contractual services
24,390
23,421
Commodities
16,263
16,259
Capital outlay
_
$
60,973
$
60,009
Street lighting - Contractual services
$
15,400
$.
11,299
Total public works
$
216,763
$
207,415
Health, sanitation and waste removal
Weed inspection and tree care
$
9,700
$
9,451
Personal services
Contractual services
50
Commodities
5,675
3,681
Other charges
5,000
2,338
Capital outlay
700
675
$
21,125
$
16,145
Storm sewer
Contractual services
$
500
$
468
Commodities
1,725
1,250
Other charges
100
96
$
2,325
$
1,814
Health
Personal services $ 700 $ 415
Contractual services 25 11
$ 725 $ 426
Total health, sanitation and waste control $ 24,175 $ 18,385
See accompanying notes to financial statements.
CITY OF ST. ANTHONY, MINNESOTA
OF EXPENDITURES - ACTUAL COMPARED WITH BUDC
YEAR ENDED DECEMBER 31 1978
Park maintenance
Personal services
Commodities
Other charges
Capital outlay
Merchandise for resale
Total park maintenance
Other functions
Human relations
Liquor store disbursements - Reimbursed
Contingencies
Insurance
Pension contributions and employees' insurance
Total other functions
Transfer to Special Assessment Fund -
Construction Account
Remittances to other agencies
Permit surcharge and sales tax remittances
Total expenditures
See accompanying notes to financial statements.
Budget Actual
$ 12,200 $ 11,126
4,525 4,286
400
9,127 5,286
1,523
$ 26,252 $ 22,221
$ 150
$ 2,922
13,990 5,786
46,000 50,281
125,000 114,579
$ 185,140 $ 173,568
$ 3,821
$ 2,342
IL,171 394 S 1.110.5
17
18
CITY OF ST. ANTHONY, MINNESOTA
SPECIAL REVENUE FUNDS
COMBINED BALANCE SHEET
DECEMBER 31, 1978
ASSETS
Cash and temporary investments (deficit)
Accounts receivable
Due from other funds
General Fund
Special Assessment Fund
Special assessments receivable
Unremitted
Deferred
Total assets
LIABILITIES AND FUND BALANCE
Liabilities
Accounts payable
Accrued liabilities
Due to other funds
General Fund
State -aid Construction Fund
Capital Improvement Fund
Fund balance - Unappropriated
Total liabilities and fund balance
See accompanying notes to financial statements.
General Community
Reserve Development
Fund Fund
$309,875 $(35,899)
41,655
2,749
1,965
129
23,681
338 3 S 5.756
$ 4,256
1,500
$338,399
$338,399 S 5.756
I
19
State -aid
Home
Improvement
Revenue
Special
Fire
Special
Police
Maintenance
Fund
CETA
Grant
Sharing
Department
Department
Fund
Fund
Fund
Fund
Fund
Combined
$ 36,505
$( 1,615)
$ 42,913
$ 19,073
$ 40,585
$411,437
9,757
10,820
62,232
92
975
27
2,868
2,940
129
—
23,681
37,572
8,142
$ _0_
53,733
19 073
L 40 61
503 JBZ
$ 68 $ 730
1,694 $ 5,054
1,694
25,419 1,500
$ 5
25,419
5
12,085 5,718 53,728 $ 19,073 $ 40,612 469,615
3 5
8,142 $ -0- 53.73 9,0 40 612 _502,287
20
CITY OF ST ANTHONY, MINNESOTA
Revenue
Intergovernmental revenue
Federal grants
Community Development
CETA
Revenue Sharing
State grants
Street maintenance allotment
Home Improvement
Insurance premium tax
Other revenue
Assessment collections
Interest earned
Donation
Transfers from other funds
State -aid Construction Fund
Special Assessment Fund
Total revenue
Expenditures
Public safety
Fire protection - Capital outlay
Public works
Street maintenance - Commodities
Park and recreation - Improvement costs
Other functions - Unallocated
Personal services
Contractual services
Commodities
Employee benefits
Administrative expenditures
Improvement costs
Transfers to other funds
General.Fund
Special Assessment Fund
Sewer Operating Fund
Total expenditures
Revenue over (under) expenditures
Fund.balance January 1
Fund balance December 31
See accompanying notes to financial statements.
General Community
Reserve Development
Fund Fund
$ 34,274
$ 34,274
$ 135
8,875
$ 536
9 010 $ 536
$337,392
$337,392
$346,402 $ 34,810
$ 28,552
$ 1,500
4,758
6,258
$ 23
7,980
$ 8,003
$ 8,003 $ 34,810
$338,399 $ -0-
-0- -0-
$338.399 9 -0-
Home
Special
Special
State -aid Improvement
Revenue Fire
Police
Maintenance CETA Grant
Sharing Department
Department
Fund Fund Fund
Fund Fund
Fund Combined
$ 7,575
$ 7,575
$ 1,077
$ 1,077
$ 2,954
$ 2,954
11,606
$ 14,828
$ 14,828
$( 3,222)
15,307
12 085
$ 72,050
$ 72,050
$ 72,050
$ 61,005
698
5,264
$ 66,967
$ 66,967
$ 5,083
635
5,Z18
$ 38
$ 38
$ 43,967
$ 43,967
$ 3,719
$ 3,719
$ 38 $ 47,686
$ 229
$ 229
$ 229
$( 191)
191
$___ 0-
$ 5
$ 5
$ 89,030
$ 89,030
$ 89,035
$(41,349)
95,077
3 28
$ 12,837
$ 12,837
$ 749
$ 749
$ 13,586
$ 514
$ 12,250
12,250
$ 12,764
$ 822
18,251
19 0 3
$ 20,531
$ 20,531
$ 2,096
$ 2,096
$ 22,627
$ 14,500
$ 14,500
$ 14,500
$ 8,127
32,485
40,612
$ 34,274
72,050
43,967
7,575
33
33,363
$191,272
$ 135
16,516
536
$ 17,137
$ 2,95'
337,392
$340,3,6
$548,305
$ 514
$ 14,823
$ 28,552
$ 61,005
5
693
5,26;•
1,500
4,753
$ 73,230
$116,009
23
7,930
$124,0'2
$241,136
$307,669
161, 9.46.
469 6.
22
CITY OF ST. ANTHONY, MINNESOTA
GENERAL RESERVE FUND
1978
Budget Actual
Revenue
Assessment collections $ 135
Interest earned 8,875
Transfer from Special Assessment Fund 337,392
Total revenue $ -0- $346,402
Expenditures
Transfers to other funds
Special Assessment Fund $ 23
Sewer Operating Fund 7,980
Total expenditures $ -0- $ 8,003
Revenue over expenditures $ -0- $338,399
Fund balance January 1 -0- -0-
Fund balance December 31 $ -0- 3 9
11�CiL�17i�] 9ui�I�Y 1�71110b7
ENDED
Revenue
Federal grant - Community Development
Donation
Total revenue
Expenditures
Improvement costs
Tennis courts
Park shelter building
Senior citizens' center
Redevelopment planning
Community dining hall
Administrative expenditures
Total expenditures
Revenue over expenditures
Fund balance January 1
Fund balance December 31
1978 1977
Budget Actual Actual
$ 34,274 $ 7,381
536 242
$ -0- $ 34,810 $ 7,623
$ 20,171
8,381 $ 6,718
2,652 663
1,570
536 242
1,500
$ -0- $ 34,810 $ 7,623
$ -0- $ -0- $ -0-
-0- -0- -0-
S -0- S _0 -
See accompanying notes to financial statements.
23
r CITY OF ST. ANTHONY, MINNESOTA
I -
STATE -AID MAINTENANCE FUND
STATEMENT OF REVENUE, EXPENDITURES AND FOP
VRAR9 Rmnvn nPCPMRPR 17 7074 ♦vn I
1978
Budget Actual
Revenue
State -aid maintenance allotment $ 7,000
Interest earned
Transfer from State -aid Construction Fund
Total revenue $ 7,000
Expenditures - Commodities $ 15,500
Revenue over (under) expenditures $( 8,500)
Fund balance January 1 15,307
Fund balance December 31 6,807
OF REVENUE
$ 7,575
1,077
2,954
$ 11,606
$ 14,828
$( 3,222)
15,307
12 08
1977
Actual
$ 7,575
366
$ 7,941
$ 13,873
$( 5,932)
21,239
15 07
See accompanying notes to financial statements.
1978
1977
Budget
Actual
Actual
Revenue
Federal Grant - CETA
$ -0-
$
72,050
$
62257
Expenditures
Personal services
$
61,005
$
5,622
Commodities
698
Employee benefits
5,264
Total expenditures
$ -0-
$
66,967
$
5,622
Revenue over expenditures
$ -0-
$
5,083
$
635
Fund balance January 1
635
635
-0-
Fund balance December 31
635
L—ij 18
635
See accompanying notes to financial statements.
24
CITY OF ST. ANTHONY, MINNESOTA
1978 1977
Budget Actual Actual
Revenue
State grant - Home Improvement $ 38 $ 5,000
Interest earned 78
Total revenue $ -0- 38 $ 5,078
Expenditures
Contractual services
1978
$
5,000
Transfer to General Fund
Actual
$
229
Total expenditures
$ -0-
$
229
$
5,000
Revenue over (under) expenditures
$ -0-
$(
191)
$
78
Fund balance January 1
191
191
1,264
113
Fund balance December 31
$ 191
$ -0-
X91
N7;7$;V0EelB_11517
DI
See accompanying notes to financial statements.
1978
1977
Budget
Actual
Actual
Revenue
Federal grant - U.S. Treasury
Revenue Sharing grant
$ 48,000
$ 43,967
$
46,565
Anti -recession grant
1,264
$ 48,000
$ 43,967
$
47,829
Interest earned
3,719
2,623
Total revenue
$ 48,000
47,686
$
50,452
Expenditures
Contractual services
$ 5
$
32
Transfer to General Fund
$ 89,030
89,030
40,000
Total expenditures
$ 89,030
$ 89,035
$
40,032
Revenue over (under) expenditures
$(41,030)
$(41,349)
$
10,420
Fund balance January 1
95,077
95,077
84,657
Fund balance December 31
$ 54.047
53,728
95 07
See accompanying notes to financial statements.
25
CITY OF ST. ANTHONY, MINNESOTA
SPECIAL FIRE DEPARTMENT FUND
STATEMENT OF REVENUE, EXPENDITURES AND FUI
YEARS ENDED DECEMBER 31 1978 AND
See accompanying notes to financial statements.
1978
1978
1977
1977
Budget
Bu_ deet
Actual
Revenue
Actual
Revenue
State aid - Insurance premium tax
$ 7,300
$
State aid - Insurance premium tax
$
9,500
$
12,837
$
11,174
Interest earned
300
Other
749
95
Total revenue
I
$
9,500
$
13,586
$
11,269
Expenditures
Capital outlay
Capital outlay
$
514
Transfer to General Fund
$ 7,250
Transfer to General Fund
$
4,000
12,250
$
2,500
Total expenditures
$
4,000
$
12,764
$
2,500
Revenue over expenditures
$
5,500
$
822
$
8,769
Fund balance January 1
Fund balance December 31
18,251
40,612
18,251
9,482
Fund balance December 31
23 751
19 07
18 251
See accompanying notes to financial statements.
1978
1977
Budget
Actual
Actual
Revenue
State aid - Insurance premium tax
$ 7,300
$
20,531
$
17,714
Interest earned
2,096
300
Other
10
Total revenue
$ 7,300
$
22,627
$
18,024
Expenditures
Capital outlay
$
4,959
Transfer to General Fund
$ 7,250
$
14,500
Total expenditures
$ 7,250
$
14,500
$
4,959
Revenue over expenditures
$ 50
$
8,127
$
13,065
Fund balance January 1
32,485
32,485
19,420
Fund balance December 31
32 535
40,612
LaZ485
See accompanying notes to financial statements.
M.
CITY OF ST. ANTHONY MINNESOTA
CAPTIAL PROJECT FUNDS
COMBINED BALANCE SHEET
DECEMBER 31, 1978
FUND BALANCE
Fund balance
Appropriated $247,588 $247,588
Unappropriated 31,317 8,304 39,.621
Total fund balance $278,905 L_8,304 287 209
Revenue
State -aid construction allotment
State -aid
Capital
Construction
Improvement
Interest earned
Fund
Fund
Combined
ASSETS
291
Other revenue
Cash and temporary investments
$ 8,225
$ 8,225
Account receivable - State of Minnesota
$247,588
$
247,588
Due from other funds
929
$
72,101
General Fund
Expenditures
74
74
State -aid Maintenance Fund
25,419
25,419
Revenue Sharing Fund
5
5
Special Assessment Fund
5,898
T 5,898
Total assets
5278.905
8 4
5287.209
FUND BALANCE
Fund balance
Appropriated $247,588 $247,588
Unappropriated 31,317 8,304 39,.621
Total fund balance $278,905 L_8,304 287 209
Revenue
State -aid construction allotment
$
71,172
$
71,172
Interest earned
$
291
291
Other revenue
638
638
Total revenue
$
71,172
$
929
$
72,101
Expenditures
Transfers to other funds
State -aid Maintenance Fund
$
2,954
$
2,954
Special Assessment Fund
44,071
44,071
Total expenditures
$
47,025
$
-0-
$
47,025
Revenue over expenditures
$
24,147
$
929
$
25,076
Fund balance January 1
254,758
7,375
262,133
Fund balance December 31
$278,905
8,304
287 209
See accompanying notes to financial statements.
r-
CITY OF ST, ANTHONY, MINNESOTA
SPECIAL ASSESSMENT FUND
COMBINED BALANCE SHEET
DECEMBER 31, 1978
L
LSee accompanying notes to financial statements.
2.
Revolving
Construction Debt Service
Account
Account Account
Combined
ASSETS
Cash and temporary investments
$ 28,665
$ 606,055
$ 634,720
Cash with paying agents
62,340
62,340
Taxes receivable - Unremitted
17
17
Special assessments receivable
Unremitted
1,815
1,815
Delinquent
9,133
9,133
Deferred
581,561
581,561
Due from other funds
General Fund
12,412
12,412
General Debt Service Fund
327
327
Total assets
S 28.665
-0- $1,273.660
$1,302.325
LIABILITIES AND FUND BALANCE
Liabilities
Accounts payable
$ 442
$ 151
$ 593
Contracts payable
47,563
47,563
Due to other funds
General Reserve Fund
1,965
1,965
State -aid Maintenance Fund
975
975
State -aid Construction
Fund
5,898
5,898
Bonds payable
Matured bonds and interest
62,340
62,340
Future bond maturities
940,000
940,000
Fund balance
Appropriated
205,246
205,246
Unappropriated
28,223
9,522
37,745
Total liabilities and
fund balance
$ 28.665
S -0- $1,273.660
51.302,325
L
LSee accompanying notes to financial statements.
2.
I
CITY OF ST. ANTHONY,_MINNESOTA
Expenditures
Improvement costs
Revolving
Construction
Debt Service
40,485
$ 34,367
Account
Account
Account
Combined
Revenue
46,576
46,576
Service charges
General property taxes
$ 471
$ 471
Interest on special
Other
assessments
89
89
51,349
51,349
Interest earned
$ 7
$ 2,480
61,811
64,298
Transfers. from other funds
General Fund
4,234
3,821
3,821
General Reserve Fund
23
23
State -aid Construction Fund
44,071
44,071
Special Assessment Fund
Special Assessment Fund
Construction Account
33,923
Revolving Account
33,923
Debt Service Account
14,716
14,716
Water Operating Fund
824
824
Total revenue
$ 33,930
$ 65,935
$ 113,631
$ 213,496
Expenditures
Improvement costs
$
5,707
$
40,485
$ 34,367
$ 80,559
Interest on bonds
46,576
46,576
Service charges
213
213
Other
89
89
Cancellation of special
assessments
4,234
4,234
Transfers to other funds
General Reserve Fund
337,392
337,392
Special Assessment Fund
Revolving Account
33,923
33,923
Construction Account
14,716
14,716
Total expenditures
$
5,707
$
74,408
$ 437,587
$ 517,702
Revenue over (under)
expenditures
$
28,223
$(
8,473)
$(323,956)
$(304,206)
Fund balance January 1
-0-
8,473
538,724
547,197
Fund balance December 31
28 223
$ -0-
$ 2I4.768
S 242.991
See accompanying notes to financial statements.
29
CITY OF ST. ANTHONY, MINNESOTA
See accompanying notes to financial statements.
Revolving
Construction
Debt Service
Account
Account
Account
Combined
Cash and temporary investments
January 1
$ -0-
$ 32,738
$907,668
$940,406
Receipts
General property taxes
879
879
State of Minnesota -
Construction aid
6,874
6,874
Special assessment collections
165,153
165,153
Interest earned
$ 7
$ 2,480
49,366
51,853
Transfers from other funds
33,923
198,287
93,377
325,587
Total receipts
$ 33,930
$200,767
315,649
$550,346
Disbursements
Improvement costs
$ 5,265
$ 40,485
$ 1,375
$ 47,125
Bond payments
135,000
135,000
Interest on bonds
46,576
46,576
Service charges
213
213
Other
89
89
Refunds
30
30
Transfers to other funds
193,020
433,979
626,999
Total disbursements
$ 5,265
$233,505
$617,262
$856,032
Cash and temporary investments
December 31
28,665
See accompanying notes to financial statements.
30
CITY OF ST. ANTHONY, MINNESOTA
GENERAL DEBT SERVICE FUND
BALANCE SHEET
DECEMBER 31, 1978
ASSETS
Cash and temporary investments
Taxes receivable
Unremitted
Delinquent
Allowance for delinquent taxes receivable
Total assets
LIABILITY AND FUND BALANCE
Liability - Due to other funds
General Fund
Special Assessment Fund
Fund balance - Unappropriated
Total liability and fund balance
STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE
YEAR ENDED DECEMBER 312 ,1978
Revenue
General property taxes
State property tax relief fund - Homestead credit
Total revenue
Expenditures
Bond principal
Interest on bonds
Service charges
Total expenditures
Revenue over expenditures
Fund balance January 1
Fund balance December 31
See accompanying notes to financial statements.
$ 7,816
82
112
112)
$ 6,146
327
1,425
$ 9,439
1,632
$ 11,071
$ 10,000
460
11
$ 10,471
$ 600
825
1 425
CITY OF ST. ANTHONY MINNESOTA
MUNICIPAL LIQUOR FUND
BALANCE SHEET
DECEMBER 31, 1978 AND 1977
1978
ASSETS
CURRENT ASSETS
Cash (deficit) $ 48,074
Petty cash and change funds 84,175
Accounts receivable 4,936
Inventories 270,664
Prepaid insurance 39,850
Total current assets 447,699
PROPERTY, PLANT AND EQUIPMENT, at cost
Land, building and improvements $ 479,241
Furniture, fixtures and equipment 202,052
$ 681,293
Less accumulated depreciation 289.016
$ 392,277
Total assets L839.976
LIABILITIES AND RETAINED EARNINGS
CURRENT LIABILITIES
Accounts payable
Due to General Fund
Accrued liabilities
Salaries
Payroll taxes
Sales and stadium taxes
RETAINED EARNINGS
Total liabilities and retained earnings
See accompanying notes to financial statements.
$ 80,724
14,104
467
12,199
$ 107.494
$ 732,482
S 839,976
1977
$( 4,106)
77,175
18,774
254,606
26,386
372,835
$ 458,833
166,173
$ 625,006
263,324
$ 361,682
Z34,517
$ 64,334
30,000
13,043
1,188
11,143
$ 119,708
$ 614,809
L.134,5w
31
32
CITY OF ST. ANTHONY, MINNESOTA
MUNICIPAL LIQUOR FUND
STATEMENT OF INCOME AND RETAINED EARNINGS
YEARS ENDED DECEMBER 31, 1978 AND 1977
Store #1
Sales $1,354,623
Cost of sales 770,271
Gross profit $ 584,352
Operating expenses 340,889
Operating income $ 243,463
Other income and
expense
Commissions $ 13,942
Check cashing
income 16,381
Check cashing
expense ( 1,742)
Miscellaneous
income 1,336
Miscellaneous
expense ( 1,133
$ 28,784
Net income $,_ 272.247
Retained earnings
Balance January 1
Add: Net income
Deduct:
Prior period adjustments
Transfer to General Fund
Balance December 31
1978
Percent
Store #2 Total of sales
$929,918 $2,284,541 100.00
609,142 1,379,413 60.38
$320,776 $ 905,128 39.62
207,935 548,824 24.02
$112,841 $ 356,304 15.60
$ 3,898 $ 17,840
4,602 20,983
1977
.78 $ 15,219 .74
.92 11,246 .55
( 856)
Percent
Total
of sales
$2,062,428
100.00
1,256,670
60.93
$ 805,758
39.07
506,382
24.55
$ 299,376
14.52
.78 $ 15,219 .74
.92 11,246 .55
( 856)
( 2,598)
( .12)
( 2,009)
( .10)
633
1,969
.09
721
.03
( 692)
( 1,825)
( .08)
( 1,212)
.06)
$ 7,585
$ 36,369
1.59
$ 23,965
1.16
$120,426
$ 392 673
17.19
$ 323.341
15.68
$ 614,809
392,673
( 275,000)
$ 732,482
See accompanying notes to financial statements.
$ 568,957
323,341
( 2,489)
( 275,000)
$ 614 809
r
r CITY OF ST. ANTHONY. MINNESOTA
MUNICIPAL LIQUOR FUND
STATEMENT OF CHANGES IN FINANCIAL POSITION
YEARS ENDED DECEMBER 31, 1978 AND 1977
SOURCE OF FUNDS
Operations
Net income for the year
Items not requiring current outlay of funds
Depreciation
Loss on disposal of equipment
Elimination of fixed assets less depreciation
Total
APPLICATION OF FUNDS
Additions to property, plant and equipment
Prior period adjustment
Transfer to General Fund
Increase in working capital
Total
Various elements of net increase (decrease) in
working capital
Cash
Petty cash and change funds
Accounts receivable
Inventories
Prepaid insurance
Accounts payable
Due to General Fund
Accrued liabilities
Increase in working capital
See accompanying notes to financial statements.
1978 1977
$ 392,673 $ 323,341
25,987 23,617
21
$ 418,660 $ 346,979
3.456
418,660 S 350_4
$ 56,582 $ 1,195
2,489
275,000 275,000
87,078 71.751
418.6 0 J-350.435
$ 52,180
$( 7,442)
7,000
( 13,838)
5,752
16,058
38,017
13,464
19,271
( 16,390)
313
30,000
20,000
( 1,396)
( 4,160)
S 87.078 L-7 1•��1
33
34
CITY OF ST. ANTHONY, MINNESOTA
MUNICIPAL LIQUOR FUND
STATEMENT OF GROSS PROFIT
YEARS ENDED DECEMBER 31, 1978 AND 1977
Cost of Gross Percent
Sales Sales Profit of sales
Store No. 1
1978
Off sale
Liquor
$ 318,724
$246,123
$ 72,601
22.78
Wine
113,533
82,507
31,026
27.33
Beer
339,152
279,820
59,332
17.49
Other
24,672
11,985
12,687
51.42
On sale
516,205
140,675
375,530
72.75
Speakeasy
42,337
9,161
33,176
78.36
51.35,.623
770 2.71$584,352
43.14
1977
Off sale
$ 317,642
$249,912
$ 67,730
21.32
Liquor
$ 304,935
$236,635
$ 68,300
22.40
Wine
101,678
74,622
27,056
26.61
Beer
282,241
230,490
51,751
18.34
Other
21,482
8,751
12,731
59.26
On sale
471,570
132,250
339,320
71.96
S1, 181.906
$682,748
$499,158
42.23
Store No. 2
1978
Off sale
Liquor
$ 320,220
$250,075
$ 70,145
21.91
Wine
122,776
87,281
35,495
28.92
Beer
261,056
209,845
51,211
19.62
Other
23,545
8,719
14,826
62.97
On sale
202,321
53,222
149,099
73.69
S 929.918
$609,142
$320,776
34.50
1977
Off sale
Liquor
$ 317,642
$249,912
$ 67,730
21.32
Wine
109,322
75,591
33,731
30.85
Beer
221,726
181,288
40,438
18.24
Other
20,654
7,789
12,865
62.29
On sale
211,178
59,342
151,836
71.90
S 880 522
$573,922
$306,600
34.82
See accompanying notes to financial statements.
35
CITY OF ST. ANTHONY MINNESOTA
_MUNICIPAL LIQUOR FUND
STATEMENT OF OPERATING EXPENSES
YEARS ENDED DECEMBER 31 1978 AND 1977
See accompanying notes to financial statements.
1978
1977
Store1
Store #2
Total
Total
,
Bar wages
$ 95,028
$ 44,416
$139,444
$128,833
Off sale wages
47,522
45,502
93,024
87,635
Custodians' wages
19,530
3,572
23 102
21,727
Managers' salaries
21,324
21,324
42,648
38,012
Bookkeepers' salaries
13,978
13,978
27,956
23,966
Employees'insurance
4,426
3,967
8,393
7,711
Pension contributions
18,928
13,112
32,040
28,009
Unemployment compensation
1,329
1,329
12835
Personal services expense
$220,736
$147,200
$367,936
$337,728
Laundry
$ 3,959
$ 2,170
$ 6,129
$ 5,412
Bar supplies
4,927
949
5,876
2,430
Off sale supplies
3,278
2,357
5,635
5,224
Cleaning supplies
2,186
749
2,935
1,709
Office expense
1,970
1,395
3,365
2,747
Travel
1,239
1,239
2,478
2,467
Commodities expense
$ 17,559
$ 8,859
$ 26,418
$ 19,989
Rent and leases
$ 570
$ 17,435
$ 18,005
$ 19,482
Heat and fuel
2,491
1,208
3,699
2,962
Utilities
13,385
5,455
18,840
16,536
Telephone
851
1,112
1,963
1,602
Sanitation expense
873
845
1,718
1,557
Casualty and liability insurance
24,535
15,678
40,213
50,263
Repairs and maintenance
8,107
6,620
14,727
11,337
Depreciation
25,152
835
25,987
23,617
Occupancy expense
$ 75,964
$ 49,188
$125,152
$127,356
Security service
$ 1,305
$ 1,333
$ 2,638
$ 2,526
Advertising and decorating
1,041
461
1,502
2,215
Accounting, legal and licenses
1,134
894
2,028
1,948
Music service
23,150
23,150
14,620
Service expense
$ 26,630
$ 2,688
$ 29,318
$ 21,309
Total operating expense
D40,889
207.935
548 824
506 382
See accompanying notes to financial statements.
36
CITY OF ST. ANTHONY, MINNESOTA
PUBLIC UTILITY FUNDS
COMBINED BALANCE SHEET
DECEMBER 31, 1978 AND 1977
ASSETS
CURRENT ASSETS .
Cash and temporary investments (deficit)
Accounts receivable
Customers
Current portion of long-term receivable
Due from other funds
General Fund
Sewer Operating Fund
Prepaid insurance
Inventory
Restricted assets
Cash and temporary investments
Due from General Fund
Cash with paying agent
Total current assets
PROPERTY, PLANT AND EQUIPMENT
Land and improvements
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 long-term receivable
Total assets
See accompanying notes to financial statements.
Operating funds
Water Sewer
$ 201,255 $( 1,948)
34,925 48,573
23,739
5,096 633
4,246
5,153 4,102
1,492
33,227
70
25,500
$ 310,964 $ 75,099
$ 7,006
$ 3,645
1,387,478
992,818
665,202
9,000
93,827
62,420
$2,153,513
$1,067,883
1.040.347
437,103
$1,113,166 $ 630,780
$ 162,263
23,739
$ 138,524
$1.4:24,130 S 844,403
37
I
1978
Water
Construction 1977
Fund Combined Combined
$ 60,180 $ 259,487 $ 302,597
83,498 84,482
23,739 3,561
1,350 7,079
4,246
9,255 750
1,492 957
33,227 88,903
70
25,500 26,000
$ 61,530 $ 447,593 $ 507,250
$ 10,651
$ 9,827
2,380,296
2,379,486
674,202
650,982
156,247
127,340
$3,221,396
$3,167,635
1,477,450
1.402.345
$1,743,946 $1,765,290
$ 162,263
$
146,506
23,739
3,561
$ 138,524
$
142,945
S 61.530 $2.330,063 52.415.485
Z7
CITY OF ST. ANTHONY, MINNESOTA
PUBLIC UTILITY FUNDS
COMBINED BALANCE SHEET. (CONTINUED)
DECEMBER 31, 1978 AND 1977
Operating funds
Water Sewer
LIABILITIES. CONTRIBUTIONS AND RETAINED EARNINGS
CURRENT LIABILITIES
Accounts payable
$
3,657
Matured bonds and interest
25,500
Current portion of long-term debt
25,000
Accrued liabilities
Payroll and payroll taxes
2,002
Interest
126,863
219
Due to Metropolitan Waste Control Commission
Total other liabilities
Due to other funds
44,843
$
Special Assessment Fund
Water Operating Fund
Total liabilities
$
101,221
Total current liabilities
$
56,378
CONTRIBUTIONS IN AID TO CONSTRUCTION
LONG-TERM DEBT
770,174
$
Water revenue bonds
$
25,000
Less current portion included above
RETAINED EARNINGS
25,000
552,735
Total long-term debt
$
-0-
OTHER LIABILITIES
$ 469
1,454
4,246
$ 6,169
Meter deposits
$
44,843
Deferred gain on disposal of property and
equipment - Metropolitan Waste Control Commission
$
126,863
Total other liabilities
$
44,843
$
126,863
Total liabilities
$
101,221
$
133,032
CONTRIBUTIONS IN AID TO CONSTRUCTION
$
770,174
$
544,910
RETAINED EARNINGS
$
552,735
$
166,461
Total liabilities, contributions and
retained earnings
$1,424,120
S 844.403
See accompanying notes to financial statements.
I
1978
Water
Construction
1977
Fund
Combined
Combined
I
$
4,126
$
10,953
25,500
26,000
I
25,000
50,000
3,456
3,308
219
438
8,688
29,862
4,246
$
62,547
$
129,249
$
25,000
$
75,000
25,000
50,000
$
-0-
$
25,000
$
44,843
$
41,878
126,863
130,424
$
171,706
$
172,302
$
234,253
$
326,551
$1,315,084
$1,358,859
$ 61,530
$
780,726
$
730,075
$ 61,530
$2,330,063
S2,415.485
39
40
CITY OF ST. ANTHONY, MINNESOTA
UTILITY OPERATING FUNDS
Balance January 1
Income for year
Transfer to General Fund
Depreciation transferred to
contributions in aid to
construction
Balance December 31
1'i5Fi8:
Balance January 1
Income for year
Transfer from General Reserve
Fund
Transfer to General Fund
Depreciation transferred to
contributions in aid to
construction
Balance December 31
1978 1977
Retained Retained
Earnings Contributions Earnings Contributions
$ 525,678 $ 795,176 $ 493,176 $ 820,178
37,057
( 10,000)
( 25,002)
S 552 735 $ 770.174
SEWER FUND
40,002
( 7,500)
( 25,002)
S 525,67$ 9 y].
1978 1977
Retained Retained
Earnings Contributions Earnings Contributions
$ 147,281 $ 563,683 $ 136,208 $ 582,457
21,200 18,573.
7,980
( 10,000) ( 7,500)
( 18,773) ( 18,774)
S 166.461 S 544.910 S 147.281 S 563.683
See accompanying notes to financial statements.
41
' CITY OF
ST.
ANTHONY,
MINNESOTA
UTILITY
OPERATING FUNDS
F COMBINED STATEMENTS OF INCOME AND EXPENSE
YEARS ENDED
DECEMBER 31
1978 AND 1977
1978
Water
Sewer
Combined
Operating income
r Water sales
$
154,405
$
154,405
Sewer rentals
$ 195,380
195,380
Connection charges
2,940
132
3,072
Other
2,118
360
2,478
Total
$
159,463
$ 195,872 $
355,335
Operating expenses (excluding
depreciation)
Disposal charges
Current period
$ 162,277 $
162,277
Prior period
T 162,277 $
162,277
Personal services
$
47,471
24,782
72,253
Contractual services
33,428
6,197
39,625
Commodities
10,889
3,028
13,917
Other charges
17,353
12,024
29,377
Total
$
109,141
$ 208,308 $
317,449
Operating income (loss)
$
50,322
$( 12,436) $
37,886
Other income and expense
Interest earned
Miscellaneous income
Interest expense
Metropolitan Waste Control
Commission credits
Refund of prior periods' disposal
charges
Loss on disposal of assets
$ 17,834 $ 4,260 $ 22,094
2,068 926 _ 2,994
( 2,730) ( 2,730)
8,778 8,778
23,206
( 1,107)
$ 16;065 T-37,170
Income before depreciation $ 66,387 $ 24,734
Less depreciation
On assets acquired with own funds ( 29,330) ( 3,534)
On assets acquired from contri-
butions in aid to construction 25,002) 18,773)
Net income S 12.05 $ 2.427
Disposition of income
Net income
Add credit arising from transfer
of depreciation to contributions
in aid to construction account
Income transferred to retained
earnings
1977
Combined
$ 160,998
205,724
1,095
1.866
$ 369,683
$ 148,578
8,688
$ 157,266
61,665
61,270
15,588
8,470
$ 304,259
$ 65,424
$ 15,400
1,720
( 4,544)
8,778
23,206
1.107)
$ 53,235 $ 21,354
$ 91,121 $ 86,778
( 32,864)
43,77 )
S 14.482
( 28,203)
43,776)
4 9
$ 12,055 $ 2,427 $ 14,482 $ 14,799
25,002 18,773 43,775 43,776
S 37.057L 21 200 58 257 58 575
. See accompanying notes to financial statements.
42
CITY OF ST. ANTHONY, MINNESOTA
UTILITY OPERATING FUNDS
COMBINED STATEMENTS OF CHANGES IN FINANCIAL POSITION
YEARS ENDED DECEMBER 31, 1978 AND 1977
SOURCE OF FUNDS
Operations
Net income
Depreciation
Loss on disposal of assets
Transfer from General Reserve
Fund
Increase in meter deposits
Reduction of long-term receivable
Increase in deferred gain
Decrease in working capital
APPLICATION OF FUNDS
Transfer to General Fund
Purchase of property and equipment
Reduction of long-term debt
Reduction of deferred gain
Increase in long-term receivable
Increase in working capital
1978
Water Sewer Combined
$ 37,057 $ 21,200 $ 58,257
29,330 3,534 32,864
901 901
$ 67,288 $ 24,734 $ 92,022
7,980
7,980
2,965
2,965
4,421
4,421
983
983
S 70,253 $ 38,118
S 108,371
$ 10,000 $ 10,000 $ 20,000
31,639 24,557 56,196
25,000 25,000
3,561 3,561
3,614
$ 70.253 S 38.118
Various elements of net increase
(decrease) in working capital
Cash and temporary investments
Cash with paying agent
Accounts receivable
Due from other funds
Prepaid insurance
Inventory
Accounts payable
Matured bonds and interest
Current portion of long-term debt
Accrued liabilities
Due to Metropolitan Waste
Control Commission
Due to other funds
Increase (decrease) in working
capital
(
36,308)
$( 65,542)
500)
19,194
103
19,091
9,412
633
4,611
3,894
535
316)
122)
6,949
500
6,827
25,000
5,449)
383
( 312)
3,614
S 108.371.
1977
Combined
$ 58,575
28,203
$ 86,778
2,255
6,833
22,361
S 118.227-
$ 15,000
41,965
50,000
7,980
3,282
118 22
$(101,850) $ 1,406
( 500)
(
500)
19,194
6,268
10,045
8,505
(
316)
535
(
559)
6,827
(
5,449)
500
500
25,000
71
582
8,688 8,688 8,851
25,616 25,616 ( 29,862)
S 3.614 S( 983) S, 2 63 S( 19,079)
See accompanying notes to financial statements.
t_
CITY OF ST. ANTHONY, MINNESOTA
WATER CONSTRUCTION FUND
STATEMENT OF INCOME AND RETAINED EARNINGS
YEARS ENDED DECEMBER 31, 1978 AND 1977
1978 1977-
Income
977Income - Interest earned $ 4,414 $ 451
Retained earnings January 1 57,116 56,665
Retained earnings December 31 61,530 7 1
STATEMENT OF CHANGES IN FINANCIAL POSITION
YEARS ENDED DECEMBER 31, 1978 AND 1977
1978 1977
SOURCE OF FUNDS
Operations
Income 4 414
_. 51
APPLICATION OF FUNDS
Increase in working capital L—A.A-14 451
Various elements of increase in working capital
Cash and temporary investments 4.414 451
See accompanying notes to financial statements.
43
44
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 1978
Note 1 - Summary of Significant Accounting Policies
The accounting policies of the City of St. Anthony conform to generally accepted
accounting principles, except as explained in Note 2. The following is a summary
of the significant policies.
Basis of accounting:
Governmental -type funds - Revenue and expenditures are recognized on the
modified accrual basis. Under the modified accrual basis,, revenue is'
recognized in the accounting period in which it becomes available and
measurable. Expenditures are recognized in the accounting period in
which the fund incurred the liability, if measurable, except for
unmatured interest on general long-term debt and special assessment debt.
Proprietary -type funds - Income and expenses are recognized on the accrual
basis. Under the accrual basis, income is recognized in the accounting
period in which it is earned and becomes measurable; expenses are
recognized in the period incurred, if measurable.
The following transactions are accounted for as described below:
General property taxes - Revenue is recognized in the year of anticipated
collection, with amounts due from the County and received early in the
following year set up as a receivable (unremitted taxes). Allowances
are provided for the full amount of delinquent taxes receivable. This
procedure has the effect of recognizing general property taxes as
revenue when cash is received because of the uncertainty of collection
of the delinquent amount.
Interest revenue on special assessments receivable - Interest revenue
is recognized in the year of anticipated collection of the current
principal installment.
Interest expense on general bonded indebtedness and special assess-
ment bonds - Interest expense is recorded as an expenditure when paid;
interest is not accrued unless fully matured and not paid.
Bond and interest
payments due January 1
- Expenditures
are recognized
when amounts are
remitted to the paying
agent (usually
in December) for
payment of bonds
and interest.
Cash and temporary investments - Cash available, in excess of immediate needs, is
invested temporarily in savings accounts, certificates of deposit and short-term
government obligations. Interest income is recognized as earned and allocated to
the respective funds on the basis of applicable participation by each fund.
Investments are stated at cost, which approximates market.
i
CITY OF ST. ANTHONY MINNESOTA
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1978
Note 1 - Summary of Significant Accounting Policies (Continued)
Inventories - Inventories held by the proprietary funds (Liquor and Public Utility
funds) are stated at cost based on the first -in, first -out valuation method, which
is lower than market. The only other items of inventory would be a small quantity
of supplies which are expensed as purchased.
45
Property, plant and equipment - The property, plant and equipment of the proprietary
funds (Liquor and Public Utility 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, plant and equipment which
was financed by special assessments, grants and contributions is charged to current
income but then redistributed as a charge to the contributions in aid to construction
account.
Budget - A plan of financial operation is set forth in the annual budget adopted by
the City Council. The amounts shown in the financial statements represent the
original budgeted amount and all revisions made during the year.
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 - Contributions
A substantial portion of the property, plant and equipment in the Public Utility Fund
was acquired by contribution. When such assets are acquired they are credited to the
contribution account and depreciation on contributed assets is charged to this
account through the distribution of net income. The rates charged by the fund are
not intended to generate sufficient revenue to recover the depreciation on contri-
buted assets, and the replacement of these assets is expected to be financed
primarily by future contributions.
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
when received.
Another receivable and the corresponding deferred gain of the Public Utility Fund
from the Metropolitan Waste Control Commission represents the City's share of equity
in the City's sewer system which was acquired by the Commission January 1, 1971.
i-. This receivable will be paid to the City by issuing credits annually through 1999,
against future disposal charges from the Commission. These credits will be
reflected in the statement of income as received.
46
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1978
Note 5 - Bonded Debt
The City has two types of bonded debt outstanding at December 31, 1978. There are
special assessment improvement bonds and water revenue bonds.
These bonds are payable primarily from special assessments and utility revenue,
respectively, with any deficiency to be provided for by general property taxes.
See the Statement of Indebtedness for schedules of bond and interest maturities.
Note 6 - Revenue Bonds
The revenue of the Water Operating Fund is pledged for payment of the Water Revenue
Bonds of 1963.
The bond indentures have placed certain restrictions on Water Operating Fund
operations. The City has complied with the provisions of the bond covenants.
Note 7 - Retirement Plan
The City participates in a state-wide contributory pension plan under the Public
Employees' Retirement Association, Minnesota Statutes Chapter 353, which covers all
employees except temporary and seasonal employees. The City's contribution for
pension costs, under the state-wide plan, was $107,615 for the year ended
December 31, 1978. Under existing Minnesota law, the City has no future contingent
obligations or commitments to the plan or its participants except to make continuing
contributions as determined from time to time by the State Legislature.
Note 8 - Vacation and Sick Leave
Accrued vacation and sick leave are not recorded as liabilities at December 31, 1978.
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, 1978 was not determined.
Note 9 - 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.
Note 10 - Lease
The City leases space for the Apache Liquor store. The lease, expiring November 1,
1980 requires annual rentals of $15,990 plus the pro rata share of common center
expense.
47
CITY OF ST. ANTHONY, MINNESOTA
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1978
Note 11 - Deficiency in Pledged Collateral
Minnesota statutes require depositories for City funds to pledge collateral to
secure balances in excess of F,D,I.C. insurance coverage. At December 31, 1978
the collateral pledged by Fidelity Bank and Trust was approximately $100,000 below
the statutory requirement.
W,
CITY OF ST. ANTHONY, MINNESOTA
it
Cash and
temporary
investments
Cash and temporary investments
St. Anthony National Bank
General checking account $ 33,573
Liquor checking account 48,074
Savings account 197,388
Certificate of deposit 200,000
$ 479,035
Fidelity Bank and Trust
Certificate of deposit 600,000
U. S. Government securities 602,646
Total cash and investments $1.681.681
Face amount
of securities
pledged by
depository as
collateral
$1.350.000
,
Additional security of $40,000 for demand deposits and $100,000 for time deposits
is provided by the Federal Deposit Insurance Corporation.
Minnesota law stipulates that the amount of deposits cannot exceed the F.D.I.C.
insurance plus ninety percent of the market value of securities pledged as
collateral by the bank. On December 31, 1978, the bank deposits at Fidelity
Bank and Trust were in excess of this requirement.
49
CITY OF ST.
ANTHONY, MINNESOTA
I
SUMMARY
STATEMENT OF
RECEIPTS AND
DISBURSEMENTS
ALL FUNDS
YEAR ENDED DECEMBER 31, 1978
Cash and
Cash and
temporary
temporary
investments
investments
January 1
Receipts
Disbursements
December 31
Fund
General Fund
$ 100,767
$1,283,427
$1,105,499
$ 278,695
Special Revenue Funds
General Reserve Fund
-0-
317,878
8,003
309,875
Community Development
Fund
( 6,830)
976
30,045
( 35,899)
State -aid Maintenance
Fund
15,644
76,443
55,582
36,505
CETA Fund
( 3,838)
69,012
66,789
( 1,615)
Home Improvement Grant
Fund
191
38
229
-0-
Revenue Sharing Fund
84,028
47,915
89,030
42,913
Special Fire Department
' Fund
18,251
13,587
12,765
19,073
Special Police
Department Fund
32,485
22,600
14,500
40,585
Capital Projects Funds
Capital Improvement Fund 7,374
856
5
8,225
Special Assessment Fund
Revolving Account
-0-
33,930
5,265
28,665
Construction Account
32,738
200,767
233,505
-0-
Debt Service Account
907,668
315,649
617,262
606,055
General Debt Service Fund
( 1,008)
19,295
10,471
7,816
Municipal Liquor Fund
( 4,106)
2,730,347
2,678,167
48,074
Public Utility Funds
Operating Funds
Water
270,790
242,330
278,638
234,482
Sewer
'
63,594
226,448
291,990
( 1,948)
Water Construction Fund
57,116
3,064
60,180
Total
$1.574.864
55,604.562
$5.497.745
$1.681.681
50
CITY OF ST. ANTHONY, MINNESOTA
BONDS PAYABLE - ALL FUNDS
DECEMBER 31, 1978
Note - January 1, 1979 maturities are considered matured December 31, 1978.
Issue
Interest
Maturity
date
rate
date
Principal
Special Assessment Fund
Improvement Bonds of 1973
6/1/73
March 1, 1979
4.20%
3/1/79
$ 65,000
March 1, 1980
4.25
3/1/80
65,000
March 1, 1981
4.30
3/1/81
65,000
March 1, 1982
4.35
3/1/82
65,000
March 1, 1983
4.40
3/1/83
65,000
March 1, 1984
4.45
3/1/84
65,000
March 1, 1985
4.50
3/1/85
90,000
Total Improvement Bonds
of 1973
$480,000
Improvement Bond Redemption
Improvement Bonds of 1963
7/1/63
January 1, 1980
3.50
1/1/80
20,000
Improvement Bonds of 1968
10/1/68
$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
$440,000
Total Improvement Bond
Redemption
$460,000
Total Special Assessment
Fund
$940,000
Water Revenue Bonds
Water Utility Revenue Bonds
of 1963
10/1/63
October 1, 1979
3.50
10/1/79
$ 25,000
Total bonds payable - All Funds
965 000
Note - January 1, 1979 maturities are considered matured December 31, 1978.
F..
r
F -
CITY OF ST. ANTHONY MINNESOTA
STATEMENT OF CHANGES IN BONDED INDEBTEDNESS
YEAR ENDED DECEMBER 31, 1978
Special Assessment Bonds
General Long-term Debt
Water Revenue Bonds
Year
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
51
Outstanding Outstanding
January 1, 1978 Issued Redeemed December 31, 1978
$1,075,000 $135,000 $ 940,000
10,000 10,000 -0-
75,000 50,000 25,000
$1,160,000--0- 195 000 $ 965.000
DEBT SERVICE REQUIREMENTS
ALL FUNDS
DECEMBER 31, 1978
Special Assessment Bonds
Principal
Interest
Total
$ 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
$ 940.000 S 205,247 S1,145,247
Water Revenue Bonds
Principal Interest Total
$ 25,000 $ 875 $ 25,875
S
25,000 $ 875 $ 25,875
Note - January 1 maturities are considered matured December 31 of the preceding year.
52
CITY OF ST. ANTHONY, MINNESOTA
TAX LEVIES AND COLLECTIONS
SPECIAL ASSESSMENT LEVIES AND COLLECTIONS
Collection
Percentage
Total
Percentage
of levy
Year
Collection
Percentage
Collection
1976
of total
$224,013
Total
of current
of levy
of prior
Total
collections:
Year
lever
gear's levy
collected
year's levy
collections
to levy
1976
$398,382
$396,315
99.48%
$ 2,240
$398,555
100.04%
1977
443,508
431,355
97.26
1,847
433,202
97.68
1978
517,966
515,170
99.46
13,424
528,594
102.05
SPECIAL ASSESSMENT LEVIES AND COLLECTIONS
Collection
Percentage
Total
of current
of levy
Year
levy
year's levy
collected
1976
$231,669
$224,013
96.70%
1977
146,481
140,801
96.12
1978
145,623
142,595
97.92
Percentage
Collection
of total
of prior
Total
collections
year's levy
collections
to levy
$ 6,201
$230,214
99.37"1
12,395.
153,196
104.58
4,376
146,971
100.93
53
CITY OF ST, ANTHONY MINNESOTA
ASSESSED VALUATIONS TAX LEVIES AND MILL RATES
(Shown by year of collectibility)
Assessed valuation
Contribution to fiscal
disparities pool
Distribution from fiscal
disparities pool
Taxable valuations
Tax levies
General Fund
Bonds and interest
Total
Mill rates
General Fund
Bonds and interest
Total
Carol Johnson
1976
$37,531,536
( 391,712)
761,622
S37.901,446
$ 370,789
27,591
$ 398 380
1977
$40,666,128
( 391,712)
732,464
$41.006.880
$ 417,556
25,910
S 443,466
1978
$40,932,278
( 656,197)
835,184
541._ 111.265
1979
$41,679,121
( 867,770)
1,074,330
41 885 6 1
$ 506,983 $ 479,845
10,983
$
517,966 $ 479.845
9.783
10.189
12.368 11.425
728
.632
.268
10.511
10.821
12.636 11.425
EMPLOYEES' SURETY BONDS
DECEMBER 31, 1978
Clerk -Treasurer $ 100,000
All employees are covered by an honesty blanket position bond of $100,000 or $300,000.
CITY OF ST. ANTHONY, MINNESOTA
FINANCIAL STATEMENTS
DECEMBER 31, 1978
CITIES -FINANCIAL STATEMENTS
CHAPTER 787
CHIEF FINANCIAL OFFICER TO PREPARE FINANCIAL STATEMENT
MINNESOTA STATUTES 1976, CHAPTER 471
Be it enacted by the Legislature of the State of Minnesota:
Section 1. Minnesota Statutes 1976, Chapter 471, is amended by
adding a section to read:
471.695 Cities financial statements, reports and audits; definitions
For the purposes of sections 471.695 to 471.699, "city" means
a statutory city or home rule charter city.
Sec. 2. Minnesota Statutes 1976, Chapter 471, is amended by adding
a section to read:
471.696 Fiscal year; designation
Beginning in 1979 the fiscal year of a city and all of its funds
shall be the calendar year. The state auditor may upon request of
a city and a showing of inability to conform, extend the deadline for
compliance with this section for one year.
Sec. 3. Minnesota Statutes 1976, Chapter 471, is amended by adding
a section to read:
471.696 Financial reporting; audits; cities of more than 2.500 population
according to the latest state or federal census, the city clerk or
chief financial officer shall:
(a) Prepare a financial report covering the city's operations
during the preceding fiscal year after the close of the fiscal year
and publish the report or a summary of the report, in a form as prescribed
by the state auditor, in a newspaper in the city or, if there be none,
post copies in three of the most public places in the city. The report
hall contain financial statements and disclosures which present the
city's financial position and the results of city operations in conformity
with generally accepted accounting principles. The report shall include
such information and be in such form as may be prescribed by the state
auditor:
(b) File the financial report in his office for public inspection
and present it to the city council after the close of the fiscal year.
One copy of the financial report shall be furnished to the state auditor
after the close of the fiscal year; and
(c) Submit to the state auditor audited financial statements which
have been attested to by a certified public accountant, public accountant,
or the state auditor within 180 days after the close of the fiscal
year, except that the state auditor may upon request of a city and a
showing of inability to conform, extend the deadline. The state auditor
may accept this report in lieu of the report required in clause (b)
above.
Subd. 2. The state auditor shall continue to audit cities of
the first class pursuant to section 6.49.
Sec. 4. Minnesota Statutes 1976, Chapter 471, is amended by adding
a section to read:
471.698 Financial reporting; cities of less than 2,500 population
Subdivision 1. In any city with a population of less than 2,500
according to the latest state or federal census, the city clerk or
chief financial officer shall:
(a) Prepare a detailed statement of the financial affairs of
the city in the style and form prescribed by the state auditor, for
the preceding fiscal year showing all money received, with the sources,
and respective amounts thereof; all disbursements for which orders have
been drawn upon the treasurer; the amount of outstanding and unpaid
orders; all accounts payable; all indebtedness, contingent liabilities;
all accounts receivable; the amount of money remaining in the treasury;
and all items necessary to show accurately the revenues and expenditures
and financial position of the city;
(b) File the statement in his office for the public inspection
and present it to the city council within 45 days after the close of
the fiscal year;
(c)(1) Publish the statement within 60 days after the close of
the fiscal year in a newspaper published in the city; or
(2) If there is no newspaper in the city, the clerk shall, at
the direction of the city council, publish the statement in the official
newspaper published elsewhere or post copies in three of the most public
places in the city; or
(3) If city council proceedings are published monthly or quarterly,
showing to whom and for what purpose orders are drawn upon the treas-
urer, the annual statement to be published as required by this section
may be summarized in such form as the state auditor may prescribe; and
(d) Submit within 90 days after the close of the fiscal year a
copy of the statement to the state auditor in such summary form as the
state auditor may prescribe.
Subd. 2. Any city described in subdivision 1 may comply with
the provisions of section 471.697, in which case the provisions of
subdivision 1 shall not apply to the city.
Sec. 5. Minnesota Statutes 1976, Chapter 471, is amended by
adding a section to read:
471.699 Enforcement of reporting requirements
Failure of a city to timely file a statement or report under section
3 or 4 shall, in addition to any other penalties provided by law,
authorize the state auditor to send full time personnel to the city
or to contract with private persons, firms or corporations pursuant
to section 6.58, in order to complete and file the financial statement
or report. The expenses related to the completion and filing of the
financial statement or report shall be charged to the city. Upon failure
by the city to pay the charge within 30 days of billing, the state auditor
shall so certify to the commissioner of finance who shall forward the
amount certified to the state auditor's revolving fund and deduct the
amount from any state funds due to the city under any shared taxes or
aids. The state auditor's annual report on cities shall include a
listing of all cities failing to file a statement or report.
Sec. 6. Appropriation. There is appropriated to the state planning
agency the sum of $50,000 from the general fund for the period ending
June 30, 1979 for the purpose of making grants to cities for converting
from a cash basis to a modified accrual basis of financial reporting
and for training city clerks or chief financial officers in the methods
of a modified accrual basis of financial reporting.
Sec. 7. Repealer, Minnesota Statutes 1976, Sections 412.281 and
412.291, are repealed.
Sec. 8. Effective date. This act is effective January 1, 1979.
except section 6 which is effective July 1, 1978. (Approved April 5, 1978.)
CITY OF ST. ANTHONY MINNESOTA
ELECTED AND APPOINTED OFFICIALS
Mayor - Sally Ann Haik
Council
Robert Sundland
William Sauer
Richard Letourneau
Clarence Ranallo
DECEMBER 31, 1978
ELECTED OFFICIALS
APPOINTED OFFICIALS
Manager - James W. Fornell
Clerk -Treasurer - Carol B. Johnson
Term of office
expires January 1st
1980
1982
1980
1980
1982
CITY OF ST. ANTHONY FINANCIAL STATEMENT
HENNEPIN-RAMSEY
STATEMENT OF REVENUES AND EXPENDITURES
Year Ended December 31, 1978
Detailed Financial Statement of Carol B. Johnson, Clerk of
the City of St. Anthony, Hennepin -Ramsey County, Minnesota,
showing the financial affairs of said City for the year ended
December 31, 1978.
CITY OF ST. ANTHONY MINNESOTA
TABLE OF CONTENTS
Page
Comments 1
Statement of City Indebtedness 2
Investment Summary 4
General Fund
Balance Sheet 5
Statement of Changes in fund balance 5
Statements of revenue -actual compared with
Budget estimates 6
Statements of Expenditures -actual compared with
Budget estimates 8
Special Revenue Funds
Balance Sheets 13
Statements of Changes in fund balance 13
Statements of revenue - Actual compared with
budget estimates 15
Statements of Expenditures -Actual compared with
budget estimates 15
Special Funds
Balance Sheet 18
Statements of changes in fund balance 18
Construction Fund - Fund 1174
Statement of changes in Fund Balance 19
Special Assessment Funds
Fund 1157
Statement of Receipts and Disbursements 20
Fund 1165
Statement
of
Receipts
and
Disbursements
20
Fund 1169
Statement
of
Receipts
and
Disbursements
21
Fund 1174A
Statement
of
Receipts
and
Disbursements
21
Fund 1175
Statement
of
Receipts
and
Disbursements
22
TABLE OF CONTENTS -cont.
Page
Fund #75A
Statement
of
Receipts
and
Disbursements
23
Fund #76
Statement
of
Receipts
and
Disbursements
24
Fund 1177
Statement
of
Receipts
and
Disbursements
25
Fund 1178
Statement
of
Receipts
and
Disbursements
25
Fund 1179
Statement
of
Receipts
and
Disbursements
26
Public Utility Funds
Sewer
Balance Sheet 27
Statement of Changes in fund balance 27
Statement of revenue -actual compared with
budget estimates 28
Statement of Expenditures -actual compared with
budget estimates 28
Water -
Balance Sheet 29
Statement of changes in fund balance 29
Statement of revenue -actual compared with
budget estimates 30
Statement of Expenditures -actual compared with
budget estimates 30
Municipal Liquor Fund
Balance Sheet 31
Summary of Operations 32
Summary of On & Off Sales 34
Summary of Operating Expense q8
Notes on Year End Report 40
CITY OF ST• ANTHONY
MINNESOTA
COM -TS
The City of St.
as defined state Anthony
operates "Optional
known as in the under
the the
of Minnesota Statutes. Flan B
i f.Council-manager
embersI includingethelan. The Council iscomposed
Cit is
Manager is appointed Mayor who is Chairman, posed
by the Council. The
The City Of St.
ifiedified accrual Anthony has
system of just converted over
Statement account from cash to the mod_
not be comparabletothis figures were not bshownsasotheylyould
years figures.
The S ecial A
are still on the sment Funds
cash basis in this Financial
Wil a so be converted °f accounting, In these
t
with generally acce to the modified 1979 these
pted accountin accrual basis Funds
g principles, to conform
Carol B, Johnson
Clerk/Treasurer
'.1
STATEMENT OF CITY INDEBTEDNESS
FUND DESCRIPTION & DATE OF ISSUE NEW INTEREST
RATE
69 Waterworks Bonds of 1962 4.0761
75 G.O. Improvements Bonds 1963
75A Water Utility Rev. Bonds 1963
75 Improvement Bonds of 1968
76 Improvement Bonds of 1973
3.434679
3.4466
4.74481
4.4537
77 Bonds of Indebtedness 6.4
TOTAL
-2-
AMOUNT OF
OUTSTANDING ISSUED
PAID IN
OUTSTANDING
ORIGINAL ISSUE
1/1/78 1978
1978
12/31/78
300,000.00
25,000.00 -
25,000.00
-0-
815,000.00
40,000.00 -
20,000.00
20,000.00
345,000.00
50,000.00 -
25,000.00
25,000.00
960,000.00
490,000.00 -
50,000.00
40;000.00
675,000.00
545,000.00 -
65,000.00
480,0
30,000.00
10,000.00 -
10,000.00
-0-
3,125,000.00
1,160,000.00 -
195,000.00
965,000.00
-3-
CITY OF ST. ANTHONY FINANCIAL STATEMENT
INVESTMENT SUMMARY
-4-
BALANCE OF
INT. EARNED
NO.
FUND INVESTMENTS 12/31/78
ON INVESTMENTS
10
General
165,000.00
2,174.50
10A
General Reserve Special Fund
/302,400.00
21,399.64
11
Revenue Sharing
-0-
3,858.68
12
Firemen's Special Fund
-0-
708.06
13
State Aid Road -Maintenance
35,500.00
958.61
15
Capital Improvement Funds
8,000.00
198.41
16
Special Police Fund
5,300.00
1,938.96
18
Community Development Block
-0-
-0-
Grant Fund
19
Ceta Fund - Hennepin and Ramsey
-0-
-0-
69
Deep Well #5 and Reservoir
5,500.00
115.20
70
Sewer Utility
35,268.84
3,809.70
72
Revolving Improvement Fund
25,000.00
2,461.03
74A
Waterworks, 1962 Revenue
59,806.54
3,143.42
75
Improvements, 1962 Revenue
374,490.67
21,239.40
75A
Water Revenue, 1963 Revenue
27,000.00
1,283.11
76
Improvements 1969
302,000.00
10,650.22
77
Bonded Indebtedness
-0-
-0-
78
Improvement Bonds
10,000.00
373.87
79
Improvement, 1977
25,000.00
1,049.38
80
Water Utility
215,716.92
14,637.58
TOTALS
$1,595,982.97
$89,999.77
-4-
CITY OF ST. ANTHONY, MINNESOTA
LIABILITIES AND FUND BALANCE
Liabilities
Accounts Payable $ 30,957
Fund balance -Unappropriated 261,608
Total liabilities and
fund balance $ 292,565
STATEMENT OF CHANGES IN FUND BALANCE
YEAR ENDED DECEMBER 31 1978
BUDGET ESTIMATE ACTUAL
Fund balance (deficit)
January 1, 1978 $124,543
Revenue
Expenditures
Fund balance (deficit) December 31, 1978
C/ r -5-
$ 124,543
1,229,312 /3�? ac"7
1 092 247 T 3
$ 261,608
GENERAL FUND
BALANCE SHEET
DECEMBER 31 1978
b�
v
ASSETS
Cash
12,644
$C165
Investments
Petty Cash and Change
Fund
,000
Accounts Receivable
Taxes Receivable
11,797
Unremitted
3,024
Total Assets
$ 292,565
LIABILITIES AND FUND BALANCE
Liabilities
Accounts Payable $ 30,957
Fund balance -Unappropriated 261,608
Total liabilities and
fund balance $ 292,565
STATEMENT OF CHANGES IN FUND BALANCE
YEAR ENDED DECEMBER 31 1978
BUDGET ESTIMATE ACTUAL
Fund balance (deficit)
January 1, 1978 $124,543
Revenue
Expenditures
Fund balance (deficit) December 31, 1978
C/ r -5-
$ 124,543
1,229,312 /3�? ac"7
1 092 247 T 3
$ 261,608
CITY OF ST. ANTHONY, MINNESOTA
GENERAL FUND
STATEMENT OF REVENUE - YEAR ENDING DECEMBER 31 1978
ACTUAL COMPARED WITH BUDGET ESTIMATES
General Property Taxes
Taxes
Real & Personal s/
Local Government Aid v
Interest & Penalties
Road & Bridges
Licenses
Permits '" I 0 . 9-1�
Fines, Forfeits & Penal/ties
Revenue From Other Ageitc/%i)
Mobile Home Registry
County Street Allotments -
Revenue From Use of Money & Property
Interest Earned
Rents & utilities
3 �o
Other Revenue for Current Services,
Refunds & Reimbursements
Other Revenue
Variance Fees
Platting Fees
Sale of Maps
Copies
Searches
Mowing Fees
Refunds & Reimbursements
School District #282
Insurance Claims & Refunds
Municipal Liquor -Refunds
Metro -Council
State of Minnesota
'vi l Defense
Du
QZe
aining
t
1978
$507,575 $51 ,005
177,208 17 ,208 1
<2 1,800
Iq
0 600,/ -0- ✓
$687,183 $689,978
$ 9,500 $ 8,011V/
$ 4,00 j
$ 16,OOOT $ 24,294
7 $ X 0 0 $ 1,509-
• 2,700
$ ,400 $ 5,585
_ 500 $ 2 17 5
4,220
$ 500 $ 6,395
$ 35,000
$ 550
815
33
172
513
447
D
4,071
3,215
8,281
2,555
2 742
3,056
4 139
$ 35,000 §(39,77
3`-cYo
I
A
CITY OF ST. ANTHONY, MINNESOTA
i GENERAL FUND
STATEMENT OF REVENUE - YEAR ENDING DECEMBER 31 1978
1978
Budget
Revenue (continued) Estimates Actual
Transfers from Other Funds
Grant Fund (1117) C24$,&_t $ -0- $ 229
Revenue Sharing Fu-nd — a 6-7.,,00-0 88,030
Water Operating Fund — + -p 10,000 24-,221
Sewer Operating Fund -z' 10,000 19,000
Municipal Liquor Fund ✓ 275,000 27
Special Police Fund ? ,250 T4;5g.g
Special Fire Fund 4,000 1
2 .250
Anti -Recessionary Fund 1,000 1,000
Special Assessment Fund 48
7 $ 374,250 $ 434,278
Total Budgeted Revenu
Surcharges &
Total Revenue
$1,129,833 $1,226,872
llect
-7-
2.440
$1,229,312
i
L
CITY OF ST. ANTHONY, MINNESOTA
GENERAL FUND
STATEMENT OF EXPENDITURES - ACTUAL COMPARED WITH BUDGET ESTIMATES
YEAR ENDING DECEMBER 31, 1978
1978
Budget
Estimates
Actual
General Government
Mayor and Council
Personal Services
1
$
10,800
$ 10,768
Contractual Services
2,675
1,297
General Expenses
U000
60
39
Other
75
26
$
13,610
$ 12,130
City Manager
Personal Services
U
$
33,000
$ 30,276
Contractual Services
1,325
1,170
Other
250
248
$
34,575
$ 31,694
Municipal Court
Personal Services
2
`�
$
1,340
$ 1,288
Contractual Services R �.� •
16,405
13,123
$
17,745
$ 14,411
Elections
Personal Services
$
1,737
$ 1,737
Contractual Services.
363
171
General Expenses
150
128
Other
50
44
$
2,300
$ 2,080
Assessing
Personal Services - /l..r.�o-ter
$
13,874
$ 6,798
Contractual Services (
General Expenses (1.
285
426
262
426
Other
50
43
\� 1
$
14,635
$ 7,529
Finance
Personal Services
$
22,200
$ 21,530
Contractual Services
3,750
3,372
General Supplies?
4 235
4,140
Other (PERA,insr., etc.)
-9 V -t •174
400
159,
$204,585
$188,290
n
Audit
Contractual Services
L /Y
$
5,000
$ 4,950
$
5,000
$ 4,950
CITY OF ST. ANTHONY, MINNESOTA
GENERAL FUND
STATEMENT OF EXPENDITURES - ACTUAL COMPARED WITH BUDGET ESTIMATES
YEAR ENDING DECEMBER 31, 1978
1978
Budget
Estimates Actual
General Government -continued
Legal
Contractual Services Q cep $ 21,850 $ 13,504
$ 21,850 $ 13,504
Planning and Zoning
Contractual Services oc. LO"'-ev-
$
7,085
$
2,715
General Supplies wo�c
25
23
Other
40
-0-
M,
$
7,150
$
2,738
Government -
Personal Services�g
$
13,300
$
12,702
Contractual Services _ �
35,750
28,884
General Supplies
800
797
Capital Outlay (Furn. & Equip.) 2
200
128
Capital Outlay (New Bldg.) - P.tJ K.5
31,221
31,221
$
81,271
$
73,732
Total General Government
$402,721
$351,058
Public Safety
Civil Defense
Personal Services
$
4,250
$
4,351
Contractual Services
710
475
General Supplies
100
90
Capital Outlay
1,000
979
$
6,060
$
5,895
Police
Personal Services $246,425 $238,033
Contractual Services 7,347 5,390
General Supplies 3,200 3,198
Other 200 190
Capital Outlay 9,308 8,327
$266,480 $255,138
M
CITY OF ST. ANTHONY, MINNESOTA
GENERAL FUND
STATEMENT OF EXPENDITURES= ACTUAL COMPARED WITH BUDGET ESTIMATES
YEAR ENDING DECEMBER 31 1978
1978
Budget
Estimates Actual
Public Safety- continued
Fire
Personal Services $203,152 $203,812
Contractual Services
General Supplies 3,250 3.,170
Other 4,400 4,353
Capital Outlay 347 364
342
$211,513 $212,041
Inspections - Building
Personal Services $ 3,800 $ 3,493
Contractual Services 130
General Supplies 123
Other 140 138
90 85
$ 4,160 $ 3,839
Inspections - Plumbing
Contractual Services $ 25
X25 $ -0-
Inspections - Health
Personal Services $ 700
Contractual Services $ 426
25 -0-
$ 725 $ 426
Animal Control
Contractual Services $ 2,000 $ 919
General Supplies 50 23
$ 2,050 T-9 4 2
Total Public Safety $491,013
$478,281
Public Works
Street Lighting r u}
Contractual Services _ Al 6P ' i^ $ 15,400 $r!11 ,299
$1400 $ 11,299
Engineering
Contractual Services $ 2,750
$ 487
$ 2,750 487
-10-
t
M
CITY OF ST. ANTHONY, MINNESOTA
GENERAL FUND
ATEMENT OF EXPENDITURES - ACTUAL COMPARED WITH BUDGET ESTIMATE
YEAR ENDING DECEMBER 31, 1978
1978
Tree Care - Weed Eradication
Personal Services
$ 9,700
Budget
Contractual Services�- p
50
-0-
General Supplies iv t
Estimates
3,681
Actual
Public Works - continued
2,338
Capital Outlay
700
675
Street Maintenance
Contractual Services
$ 4,800
$
4,405
General Supplies
12,300
12,240
Other
740
256
Capital Outlay
4,800
4,195
$ 22,640
$
21,096
Transportation - Garage
Personal Services
$ 17,120
$
17,429
Contractual Services
3,200
3,226
General Supplies
24,390
23,421
Capital Outlay
16,264
16,259
$ 60.974
$
60,335
Labor Appropriations
Personal Services
$115,000
$113,5
8
Contractual Services
,_n
JX�rJ�
$115,000
$11
Storm Sewer
Contractual. Services
$ 500
$
468
General Supplies
1,725
1,250
Other
100
97
$ 2,325
$
1,815
Tree Care - Weed Eradication
Personal Services
$ 9,700
$ 9,452
Contractual Services�- p
50
-0-
General Supplies iv t
5,675
3,681
Other ^ TAee__ 4-11-
5,000
2,338
Capital Outlay
700
675
$ 21,125 $ 16,146
Parks - Maintenance
Personal Services $ 12,200 $ 11,242
General Supplies 4,525 5,809
Other 400 -0-
Capital Outlay 9,127 5,286
$ 26,252 $ 22,337
Total Public Works $266,466 $248,038
-11-
.� � o
�./
f
1
CITY OF ST. ANTHONY, MINNESOTA
GENERAL FUND
STATEMENT OF EXPENDITURES - ACTUAL COMPARED WITH BUDGET ESTIMATES
YEAR ENDING DECEMBER 31, 1978
if II
k'
Other Functions
Human Relations
Liquor Store d'sbursement�s-reimbursed
Contingencies I
Surcharge & Sa as Tax Remittances 'I
Surcharge
Total Ot er Functions
Total
Transfers to o
geted Expenditures
Funds
Construction Fund
Total Transfers
Total Expenditures
n
0
t
L
-12-
1978
Budget
Estimates
$ 150
-0-
13,990
-0-
$ 14,140
$1,174,340
Actual
$ -0-
2,922
5,786
2,341
$ 11,049
$1,088,426
$ 3 821
3,821
092.247
CITY OF ST. ANTHONY, MINNESOTA
SPECIAL REVENUE FUNDS
BALANCE SHEETS - DECEMBER 31, 1978
ASSETS
L (deficit)
!stments
punts Receivable
tal Assets
Combined
$ 60,826
40,800
56,349
$157,975
,IABILITY AND FUND BALANCE
lility
:counts Payable $ 2,424
1 Balance
tappropriated 155,551
Total Liability & Fund Balance $157,975
Revenue
Sharing
$43,053
-0-
10,820
$53,873
Special
Fire
$19,032
-0-
-0-
$19,032
$ -0-
$
-0-
53 2.873
3 87$19
1
032
032
1 Balance January 1, 1978
$161,946
$95,077
STATEMENTS OF CHANGES
IN FUND BALANCE
YEAR ENDED DECEMBER 31, 1978
1 Balance January 1, 1978
$161,946
$95,077
$18,251
Revenue
262,061
47,826
13,545
Let: Expenditures
268,456
89,030
_12L.:/64
Balance December 31, 1978
$155,551
$53873
$19�-,032
-13-
$ $ $ $ -0- $ 2,424
-0-
_36,473 5 -0- 5,71
$36,473 40 45 0- T -0- $ 2
I
$15,307
Special
Home Impr.
Community
$ 635
State -Aid
Police Dept.
Grant
Development
Ceta
Fund
Fund
Fund
Fund
Fund
$ 973
$35,155
$ -0-
$(35,772)
$-(1,615)
35,500
5,300
-0-
-0-
35,772
9,757
$36,473
$40,455
$ -0-
$ -0-
$ 8,142
$ $ $ $ -0- $ 2,424
-0-
_36,473 5 -0- 5,71
$36,473 40 45 0- T -0- $ 2
I
$15,307
$32,485
$ 191
$ -0-
$ 635
76,411
22,470
38
29,721
72,050
55,245
14,500
229
29,721
66,967
$36,473
$40,455
$ -0-
$ -0-
$ 5,718
-14-
Mm
19
CITY OF ST ANTHONY MINNESOTA
SPECIAL REVENUE FUNDS
STATEMENTS OF REVENUE AND EXPENDITURES
YEAR ENDING DECEMBER 31 1978
1978
Budget
J
1
$4,'000-
Actu 1
43,967
9
$47826
7
$Z8-9,0-3-0-
$89,030
89,030$89,030
Fire Special -Fund #12
Revenue
Firetown Tax Settlemen )��4r,ca-r -ooa $ ,
9,500 $12837
Interest Earned d, 8
Total Revenue $ 9,500 $13,545
Expenditures
Transfers to other Funds
General Fund �• (j 9+a$3 y ooa - �+-.yQ o -n ? $ 4,000
Other -Equipment $12,25
Total Expenditures 14
\ $ 4,000 $12,764
State-Aid'Fu�13 )
Revenue
Municipal State Aid Allotments(Maint) $ 7,000 $ 7,575
Interest Earned r/ I, 1
Transfer from Construction Fund V° ` 67�-84
Total Revenue $ 7,000 $7
Expenditures '
Transfers to Other Funds
State -Aid Construction Fund $ 48
Other -Commodities 13,000 14 761
Total Expenditures 13,00055,2 5
-15-
Revenue SAi aring-Fund #11
Revenue
U.S. Treasury
Revenue
Sharing rants
Interest
Earned
Re eue
'T�pgt,al
Expenditure
Transfers
to other funds
General
Fund
/ q
Total
Expenditures
1978
Budget
J
1
$4,'000-
Actu 1
43,967
9
$47826
7
$Z8-9,0-3-0-
$89,030
89,030$89,030
Fire Special -Fund #12
Revenue
Firetown Tax Settlemen )��4r,ca-r -ooa $ ,
9,500 $12837
Interest Earned d, 8
Total Revenue $ 9,500 $13,545
Expenditures
Transfers to other Funds
General Fund �• (j 9+a$3 y ooa - �+-.yQ o -n ? $ 4,000
Other -Equipment $12,25
Total Expenditures 14
\ $ 4,000 $12,764
State-Aid'Fu�13 )
Revenue
Municipal State Aid Allotments(Maint) $ 7,000 $ 7,575
Interest Earned r/ I, 1
Transfer from Construction Fund V° ` 67�-84
Total Revenue $ 7,000 $7
Expenditures '
Transfers to Other Funds
State -Aid Construction Fund $ 48
Other -Commodities 13,000 14 761
Total Expenditures 13,00055,2 5
-15-
CITY OF ST. ANTHONY, MINNESOTA
SPECIAL REVENUE FUNDS (con't.)
STATEMENTS OF REVENUE AND EXPENDITURES
YEAR ENDING DECEMBER 31 1978
Special Police -Fund #16
Revenue
Policetown Tax Settlement 4$, 0" �S '
Interest Earned 7 7 2,_3
Total Revenue ;S
Expenditures
Transfer To Other Funds
General Fund
Total Expenditures
M.H.F.A. Grant -Fund
Budget
1978
Actual
Revenue
Other /
$
-0-
$
38
Total Revenue /
$
-0-
$
38
Expenditures
Transfer To Other Funds
General Fund (To Close Fund out)
$
-0-
$
229
Total Expenditures
$
-0-
$
229
Community Development Block Grant -Fund
#18
Revenue
Revenue from Other Agencies
Hennepin County Grant
Total Revenue
Expenditures
Special Grants
Tennis Courts
Kenzie Terrace Redevelopment Study
Community Dining Hall
Park Shelter Building
Senior Citizens Center
Total Expenditures
-16-
$ -0-C2�721>
$ -0-/
$ -0-
$15,914
1,570
535
9,050
2.652
$29,721
-17-
CITY OF ST. ANTHONY,
MINNESOTA
r SPECIAL REVENUE
FUNDS (cont't)
STATEMENTS OF REVENUE AND
EXPENDITURES
YEAR ENDING DECEMBER
31, 1978
Ceta-Hennepin and Ramsey Counties -Fund #19
Revenue
Revenue From Other Agencies
$ -0-
$71,589
Transfers From Other Funds
General Fund
1
Total Revenue
$ -0-
72 050
Expenditures
Personal Services
$ -0-$61,005
General Supplies
698
Other (Benefits)
4
1
Total Expenditures
$ -0-
66 967
-17-
CITY OF ST. ANTHONY. MINNESOTA
ASSETS
Cash
Investments
Accounts Receivable
Hennepin County Tax Stlm.
Total Assets
FUND BALANCE
SPECIAL FUNDS
BALANCE SHEETS
DECEMBER 31, 1978
Rev. Imp. Capital
Fund Imp. Fun
Combined 4172 #15
$11,146 $ 3,618 $ 206
335,400 25,000 8,000
33 -0-
$346,579 $ 8,206
Fund Balance
Unappropriated $346,579 $28,Q18
STATEMENTS OF CHANGES IN FUND BALANCES
YEAR ENDED DECEMBER 31. 1978
Fund balance (deficit)
i
R serve
S ecial
Fu d #lOA
$' 7 322
302,400
33
$309,755
$ 8,206 $309,755
January 1, 1978 $ 7,374 $ -0- $ 7,374 $ -0-
Revenue
Charges for current services 3,294
-0-
638
2,656
Interest Earned 14,284
-0-
199
14,085
Transfers 334,900
33,883
-0-
301,017
$359,852
'$33,883
$ 8,211
$317,758
Expenditures
Transfers
$ 8,003
$ -0- $ -0-
$ 8,003
Other
5-
- 5
-0-
Improvement Costs
5 265
13,273
5 -0-
5,265 5
-0-
8,003
Fund Balance
e
December 31, 1978
$346,579
$28,618 $ 8,206
$309,755
-18-
r
CITY OF ST. ANTHONY MINNESOTA
SPECIAL ASSESSMENT FUND
STATEMENT OF CHANGES IN FUND BALANCE
YEAR ENDED DECEMBER 31 1978
FUND # 74
Construction
Account
Fund Balance (deficit) January 1, 1978 $ 8,473
Additions
Interest Earned 2,440
Revenue From Other Agencies
State of Minnesota 1,979
Transfers 47316
/ $51,735
Deductions
Project Costs - Signals $27,287
Transfers 32,921
$60,208
Fund Balance December 31, 1978 $-0-
*Fund closed out.
-19-
CITY OF ST. ANTHONY, MINNESOTA
SPECIAL ASSESSMENT FUNDS 2
STATEMENTS OF RECEIPTS AND DISBURSEMENTS*
/ YEAR ENDING DECEMBER 31 1978
FUND 1157
Balance January 1, 1978 $-(5,598)
Receipts
Transfer from Fund #65 n $ 5,603
Total Receipts U�![y $ 5
Disbursements
Fiscal Charges (Henn. Co.) $ 5
Total Disbursements $ 5
Fund Balance 12/31/78 (Fund Closed) $ -0-
LETT ATT 4 [
Balance January 1, 1978 $ 2,463
Receipts
Special Assessments Collected $ 2,692
Interest on Investments $ 15,389
Investment Maturities, at Cost $594,000
Total Receipts $612,081
Disbursements
Transfers To Other Funds
Fund 1157 $ 5,603
Fund #lOA ✓ 306,692
$312,295
Contractual Payment 849
Investment Purchases $301,400
Total Disbursements $614,544
Fund Balance 12/31/78 -0-
-20-
CITY OF ST. ANTHONY, MINNESCTA
SPECIAL ASSESSMENT FUNDS
*STATEMENTS OF RECEIPTS- AND DISBURSEMENT
NDING DECEMBER 31. 1978
FUND 1169
Balance January 1, 1978 5.87
Receipts
Interest on Investments $ 115
Investment Maturities, at Cost $ 5,800
Transfer from Fund 1180 (water) 4L"
"� $26,100
Total Receipts I $32,015
Disbursements
Bond and Interest Payments $26,000
Fiscal Charges 95
$26,095
Investment - Purchases $11,300
Total Disbursements $37,395
Fund Balance 12/31/78 $ 499
Balance January 1, 1978 $11,864
Receipts
Interest on Investments $ 3,143
Investment Maturities, at Cost $56,800
Total Receipts $59,943
Disbursements
Investment Purchases $71,607
Total Disbursements $71,607
Fund Balance 12/31/78 $ 200
-21-
I
I
' CITY OF ST. ANTHONY, MINNESOTA
SPECIAL ASSESSMENT FUNDS
*STATEMENT OF RECEIPTS & DISBURSEMENTS
f
YEAR ENDING DECEMBER 31, 1978
FUND $75
Receipts
Balance January 1, 1978
$22,619
Taxes -Special Assessments Collected
Hennepin County
$22,016
Ramsey County
96r 839
City of St. Anthony
5,707
$64,562
Bond & Interest Tax Payments
Hennepin County
$ 111
Ramsey County
30
$ 141
Revenue From Use of Money
Interest Earned
$21,375
Investment Maturities, at Cost
$848,500
Transfer from General Fund
$ 183
Total Receipts
$934,761
Disbursements
Bond and Interest Payments $94,310
Fiscal Charges 111
$94,421
Refunds & Reimbursements $ 30
Transfers To Other Funds
Transfer To Fund #74 $ 2,165
Transfer To Fund #77 1,152
Transfer To Fund #10A 361
$ 3,678
Investment Purchases $859,228
Total Disbursements $957,357
Fund Balance 12/31/78 $ 23
-22-
r
CITY OF ST. ANTHONY MINNESOTA
r SPECIAL ASSESSMENT FUNDS
STATEMENT OF RECEIPTS AND DISBURSEMENTS
YEAR ENDING DECEMBER 31 1978
FUND # 75A
Receipts
Balance January 1, 1978
Revenue From Use of Money
Interest Earned
Investment Maturities, at Cost
Transfer From Fund #80 (Water)
Total Receipts
Disbursements
Bond & Interest Payments
Fiscal Charges
$ 908
$ 1,283
$50,000
$26,850
$78,133
$26,750
101
$26.851
Investment Purchases $52,000
Total Disbursements $78,851
Fund B lance 12/31/78 190
l Y
-23-
CITY OF ST. ANTHONY, MINNESOTA
SPECIAL ASSESSMENT FUNDS
*STATEMENT OF RECEIPTS AND DISBURSEMENTS
YEAR ENDING DECEMBER 31 1978
FUND #76
Receipts
Balance January 1, 1978
Taxes - Special Assessments Collected
Hennepin County
Ramsey County
City of St. Anthony
Revenue From Other Agencies
State of Minnesota
Revenue From Use of Money
Interest Earned
Investment Maturities, at Cost
Transfer From Construction Fund
Total Receipts
Disbursements
Bond and Interest Payments
Fiscal Charges
Investment Purchases
Total Disbursements
Fund Balance 12/31/78
-24-
34 387
$62,513
506
5,645
$68,664
$ 5,898
$10,695
$427,000
$93,194
$605,451
$87,266
182
$87,448
$553,200
$640,648
$ -(810)
CITY OF ST. ANTHONY, MINNESOTA
SPECIAL ASSESSMENT FUNDS
* STATEMENT OF RECEIPTS AND DISBURSEMENTS
YEAR ENDING DECEMBER 31. 1978
FUND O177
Receipts
Balance January 1, 1978
$-(1,008)
Tax Levies
Hennepin County
$
5,945
Ramsey County
573
State of Minnesota
10,983
$
17,501
Transfer from General Fund
$
134
Transfer from Fund #75
1,152
$
1,286
Total Receipts
$
18,787
Disbursements
Bond & Interest Payments $10,460
Fiscal Charges 11
$10,471
Total Disbursements $10,471
Fund Balance $ 7,308
FUND Oi78
Receipts
Balance January 1, 1978 $ 742
Tax Collections
Hennepin County _0 -
Ramsey County23 4,60.
3,4nu
Revenue From Use of Money
Interest Earned S 374
Investment Maturities, at Cost $16,700
Total Receipts $20,534
-25-
f
CITY OF ST. ANTHONY, MINNESOTA
f S'PEGFAL ASSESSMENT FUNDS
*STATEMENT OF RECEIPTS AND DISBURSEMENTS
YEAR ENDING DECEMBER 31, 1978
FUND 1178 cont.
Disbursements
Investment Purchases $21,850
Transfer To General Fund $ 64
Transfer To Construction Fund 13,455
$13,519
Total Disbursements $35,369
Fund Balance $-(14,093)
FUND 1179
Receipts
Balance January 1, 1978 $ 312
Tax Collections Specials
Hennepin County $16,678
City of St. Anthony 5,408
$22,086
Revenue From Use of Money
Interest Earned $ 1.049
Investment Maturities, at Cost $46,100
Total Receipts $69,235
Disbursements
Fiscal Charges - Hennepin County $ 4
Investment Purchases $59,050
Transfer To Construction Fund $107,652
Total Disbursements $166,706
Fund Balance $-(97,159)
i -26-
CITY OF ST. ANTHONY, MINNESOTA
PUBLIC UTILITY FUNDS
BALANCE SHEET
DECEMBER 31, 1978
SEWER FUND
Assets
Cash (deficit)
Investments
Accounts Receivable - Customers
Other
Prepaid Insr.
Total Assets
Liabilities & Fund Balance
Liabilities
Accounts Payable
Appropriated
Unappropriated
Total Liabilities
`$_-C37 307)>
35,269
48,037
20,036
208
STATEMENT OF CHANGES IN FUND BALANCE
YEAR ENDED DECEMBER 31, 1978
Fund Balance January 1, 1978
Add: Revenue
Deduct: Expenditures
Fund Balance (deficit) December 31, 1978
$ 1,711
-0-
64,532
$66,243
$ 66,352*
244,771
246,591
$ 64,532
Footnote
* 12 31 77 -Audit -Fund Balance less fixed assets and other
Metro -Waste Control receivables
-27-
CITY OF ST, ANTHONY, MINNESOTA
SEWER FUND
STATEMENT OF REVENUE
YEAR ENDING DECEMBER 31, 1978*
1978
dget Estimates Actual
Operating Revenue
Sewer Sales $205,000
Connection Charges 60
Other 2,200
Total Operating Revenue $207,260
Other Income
Interest Income $ 1,000
Metra -Waste Comm -Credits & prior yrs. adj.
Reserves 12,255
Total Other Income $ 13,255
Total Budgeted Revenue $220,515
Sac Charges Collected
Transfers from other Funds
Total Revenue
EMENT OF EXPENDITURES
YEAR ENDING DECEMBER 31, 1978*
Operating Expenses
Disposal Charges
Personal Services
Contractual Services
General Supplies
Other
Capital Outlay
Total Operating Expenses
Transfers to other Funds
Total budgeted Expenditures
Budget
$163,567
24,333
14,097
3,150
11,500
1�3502?
$ 10,000
$245,727
1978
$194,845
360
3,527
$198,732
$ 3,537
21,322
-0-
$ 24,859
$223,591
$ 13,200
$ 7,980
$244,771
Actual
$162,187 ti
24,782✓
6,453
2,933
15,5832;
15,653 J
T
$ 19-000 t-z� FWz
$246, 591
CITY OF ST. ANTHONY MINNESOTA
r PUBLIC UTILITY FUNDS
BALANCE SHEET
DECEMBER 31, 1978
WATER FUND
Assets
Cash (12/31/78)
-$(14,967)
Investments
215,717
Accounts Receivable -Customer
35,700
Prepaid Insurance
575
Inventories
957
$237,982
Liabilities
Accounts Payable
$ 5,151
Meter deposits
44,843
Fund Balance
$187,988
$237,982
STATEMENT OF CHANGES
Fund Balance January 1, 1978 $227,745*
Revenue 182,942
Expenditures 222,699
Fund balance (deficit) December 31, 1978 $187,988
Footnote
* per 12/31/77 audit -Fund Balance less restricted assets, fixed
assets & Bonds Payable.
-29-
CITY OF ST. ANTHONY, MINNESOTA
WATER FUND
STATEMENT OF REVENUE
YEAR ENDING DECEMBER 31, 1978*
Operating Revenue
Water Sales
Connection Charges
Other
Total Operating Revenue
Other Income
Interest Income
Total Other Income
Total Budgeted Revenue
Sales Tax - collected
Total Revenue
1978
Budget Estimate Actual
STATEMENT OF EXPENDITURES
$167,410 $155,079
600 2,940
1,950 5,356
169,960 $163,375
$ 13 000 $ 13,936
13, 00 S 13,936
$182,960 $177,311
YEAR ENDING DECEMBER 31, 1978*
Operating Expenses
Personal Services
Contractual Services
General Supplies
Other
Capital Outlay
Total Operating Expenses
Transfers To Other Funds
Total Budget Expenditures
Meter Deposits Interest Paid
Sales Tax
Total Expenditures
-30-
$ 5,631
$182,942
1978
Budget Estimate Actual
$ 47,727 $ 47,356
33,473 33,319
11,500 10,889
28,470 28,402
19 37019 164
140,540 139,130
$ 58,000
$ 77,995
$198,540
$217,125
$ 3
5,571
$222,699
CITY OF ST. ANTHONY MUNEPAL LIQUOR STORES
1978 FINANCIAL REPORT
ST. ANTHONY MUNICIPAL LIQUOR STORES
BALANCE SHEET
DECEMBER 31, 1978
ASSETS
CASH IN BANK AND TRANSIT 46:074:58
CHANGE AND IMPREST PETTY CASH
MISCELLANEOUS RECEIVABLES7 4
10, 1
MERCHANDISE INVENTORIES 2767,
PREPAID EXPENSES 39,849-74
TOTAL CURRENT ASSETS 8 447,473,64
LAND, BUILDING, IMPROVEMENTS 479,240-81
ALLOWANCE FOR DEPRECIATION (171,688.35)
FURNITURE, FIXTURES, EQUIPMENT 202,051,90
ALLOWANCE FOR DEPRECIATICN 117,327.08)
TOTAL FIXED ASSETS 8 392,277.28
TOTAL ASSETS $ 839.750.92
LIABILITIES
TRADE ACCOUNTS PAYABLE 8 60,100,05
ACCRUED SALARIES 14,103.90
ACCRUED PAYROLL DEDUCTIONS 466.88
MINNESOTA SALES TAX FUND 10,617.83
STADIUM TAX FUND 1,581.97
TOTAL CURRENT LIABILITIES 8 106,870.63
NET WORTH 732,880,29
TOTAL LIABILITIES & NET WORTH 8 839,750.92
NET WORTH SUMMARY
BALANCE, JANUARY 1, 1978 S 614,80$-96
NET INCOME, FIRST QUARTER 1978 8 67,544.96
SECOND QUARTER 1978 101,378,03
THIRD QUARTER 1978 97,507,59
FOURTH QUARTER 1978 126,640.75 393,071.33
LESS TRANSFERS TO GENERAL FUND-275,000,CO
BALANCE, DECEMBER 31, 197$ 732,$$0,29
-31-
-32-
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-32-
ST. ANTHONY MUNICIPAL LIQUOR STORES
SUMMARY OF OPERATIONS
YEAR TO DECEMBER 31, 1978
STORE ONE
NET SALES
COST OF GOODS SOLD BEFORE
PROMOTIONAL DISCOUNTS
GROSS PROFIT BEFORE DISCOUNT
PROMOTIONAL DISCOUNTS
GROSS PROFIT AFTER DISCOUNTS
OPERATING EXPENSE
PROFIT FROM OPERATIONS
NET NON-OPERATING INCOME
NET INCOME
STORE TWO
NET SALES
COST OF GOODS SOLD BEFORE
PROMOTIONAL DISCOUNTS
GROSS PROFIT BEFORE DISCOUNT
PROMOTIONAL DISCOUNTS
GROSS PROFIT AFTER DISCOUNTS
OPERATING EXPENSE
PROFIT FROM OPERATIONS
NET NON-OPERATING INCOME
NET INCOME
-33-
YEAR TO
DATE 1978
%
YEAR TO
DATE 1977
INCREASE
DECREASE.
100.00
1,354,681.33
100.00
1,182,848.98
171,832.35
58.22
]88.763.78
59.21
200,346.82
88,416.96
41.78
565,917.55
40.79
482,502.16
83,415.39
1.36
_18.492.63
1.49
17,598.91
893.72
43.14
584,410.18
42.28
500,101.07
84,309.11
25.07
339,564.24
24.80
293,356.12
46,208.12
18,07
244,845.94
17.48
206,744.95
38,100.99
2.05
27,745.29
1.55
18.287.77
9.457.52
20.12
272,591.23
19.03
225,032.72
47,558.51
100.00
929,992.16
100.00
880,972.75
49,019.41
67.60
628,718.76
67.18
591,815.31
6 0 .e
32.40
301,273.40
32.82
289,157.44
12,115.96
2.10
_19,577.13
2.03
17,893.56
1,683.57
34.50
320,850.53
34.85
307,051.00
13,799.53
22.32
2072587.11
23.68
2089620.52
1,033.41*
12.18
113,263.42
11.17
98,430.48
14,832.94
0.78
7,216.68
0.64
5,676.84
1,539.84
12.96
120,480.10
11.81
104,107.32
16,372.78
-33-
ST. ANTHONY MUNICIPAL LIQUOR STORES
SUMMARY OF ON AND OFF SALES
YEAR TO DECEMBER 31, 1978
COMBINED
-34-
4TH QTR.
YEAR TO
YEAR TO
INCREASE
ON SALE
197$
DATE 1976
DATE 1977
DECREASE*
NET SALES
210,101.08
760,862.37
634,142.13
76,720,24
COST OF GOODS SOLD
52,855.38
203.057.53
191,591.76
11,465.77
GROSS PROFIT FROM SALES
157,245.70
557,804.84
492,550.37
65,254.47
RATIO TO NET SALES
74-84%
73-31%
71.99%
1.32%
OPERATING EXPENSE:
SALARIES, WAGES, BENEFITS
54,865.68
217,068.70
197,680.25
19,388.45
ALL OTHER EXPENSE
30,571.96
111,382.80
98,080.71
13,302.09
TOTAL OPERATING EXPENSE
85,437.0'6
328,451.50
295,760.96
32,690.54
RATIO TO NET SALES
40.66%
43.16%
43.23/%
0.07%*
PROFIT FROM OPERATIONS
71,808.04
229,353.34
196,789.41
32,563.93
OTHER INCOME — NET
4.413.50
18,509.97
14,545.35
3,964.62
NET INCOME
76,221.54
247,863.31
211,334.16
36,528.55
RATIO TO NET SALES
36.27%
32.57%
30-89%
1,68%
OFF SALE
NET SALES
444,265,00
1,523,611.12
1,379,679.60
144,131.52
COST OF GOODS SOLD
343,133.77
1,176,355.25
1,065,077.90
111,277.35
GROSS PROFIT FROM SALES
101,131.23
347,455.87
314,601.70
32,854.17
RATIO TO NET SALES
22.76%
22.80%
22.80%
-
OPERATING EXPENSE:
SALARIES, WAGES, BENEFITS
37,597.83
150,866.87
138,008,15
12,858.72
ALL OTHER EXPENSE
18,081.31
67,832.98
68,207.53
374.55*
TOTAL OPERATING EXPENSE
55,679.14
218,699.85
206,215.68
12,484.17
RATIO To NET SALES
12.53%
14.35%
14.94%
0.59%*
PROFIT FROM OPERATIONS
45,452.09
128,756.02
108,386.02
20,370.00
OTHER INCOME — NET
4.967.12
16,542.00
9,419.26
71032.74
NET INCOME
50,419.21
145,298.02
117,805.28
27,402.74
RATIO To NET SALES
11.34%
9.52%
8.53%
0.99"/
-34-
ST.
ANTHONY MUNICIPAL LIQUOR STORES
SUMMARY OF ON AND
OFF SALES
YEAR TO DECEMBER
31, 1978
STORE ONE
4TH QTR.
YEAR TO
YEAR TO
INCREASE
ON SALE
1978
DATE 1978
DATE 1977
DECREASE
NET SALES
140,589.13
516,204.37
472,513.46
43,690.91
COST OF GOODS SOLD
36,526.82
140,675.06
132,249.93
8,425.13
GROSS PROFIT FROM SALES
104,062.31
375,529.31
340,263.53
35,265.78
RATIO TO NET SALES
74.01%
72.74%
72.01%
0.73%
OPERATING EXPENSE:
SALARIES, WAGES, BENEFITS
32,425.52
129,683.62
120,618.51
9,065.11
ALL OTHER EXPENSE
20,677.31
78,055.83
67,159.03
10,896.80
TOTAL OPERATING EXPENSE
53,102.83
207,739.45
187,777.54
19,961.91
RATIO To NET SALES
37.77%
40.24%
39.73%
0.51%
PROFIT FROM OPERATIONS
50,959.48
167,789.86
152,485.99
15,303.87
OTHER INCOME — NET
3,630.27
15,073.54
11,563.15
3,510.39
NET INCOME
54,589.75
182,863.40
164,049.14
18,814.26
RATIO To NET SALES
38.82%
35.42%
34.71%
0.71%
OFF SALE
NET SALES
224,040.72
796,140.25
710,335.52
85,804.73
COST OF GOODS SOLD
176,639.00
620,435.22
550,497.98
69.937.24
GROSS PROFIT FROM SALES
47,401.72
175,705.03
159,837.54
15,867.49
RATIO To NET SALES
21.15%
22.06%
22.50%
0.44%*
OPERATING EXPENSE:
SALARIES, WAGES, BENEFITS
20,129.93
79,396.59
72,237.04
7,159.55
ALL OTHER EXPENSE
9.484.84
35,718.64
33,341.54
2,377.10
TOTAL OPERATING EXPENSE
29,614.77
115,115.23
105,578.58
9,536.65
RATIO TO NET SALES
13.21%
14.45%
14.86%
0.41%*
PROFIT FROM OPERATIONS
17,786.95
60,589.80
54,258.96
6,330.84
OTHER INCOME — NET
3,534.45
12,132.16
6,724.62
5,407.54
NET INCOME
21,321.40
72,721.96
6o,983.58
11,738-38
RATIO To NET SALES
9.51%
9.13%
8.58%
0.55%
-35-
ST. ANTHONY MUNICIPAL LIQUOR STORES
SUNVARY OF ON AND OFF SALES
YEAR TC DECEMBER 31, 1978
SPEAKEASY
OPERATING EXPENSE
WAGES
LAUNDRY
BAR SUPPLIES
CASUALTY & LIABILITY INS.
DEPRECIATION
REPAIRS
-36-
4TH QTR.
1978
4,215.37
82.82
632.83
52.26
1,036.80
7.06
6,027.14
YEAR TO
DATE 1977
YEAR TO
DATE 1978
11,655.35
316.70
2,044.51
146.76
2,515.68
30.56
16,709.56
INCREASE
DECREASE'*
42,336.71
160.87
33,175.84
11.655.35
5,054.21
16,709.56
16,466.28
539.59
17,005.87
4TH QTR.
YEAR TO
1978
DATE 1978
NET SALES
15,385.90
42,336.71
COST of GOODS SOLD
3,606,67
9,160.87
GROSS PROFIT FROM SALES
11,779.23
33,175.84
RATIO TO NET SALES
76.55%
78.36%
OPERATING EXPENSE:
SALARIES, WAGES, BENEFITS
4,215.37
11,655.35
ALL OTHER EXPENSE
1�1
_ 5,054.21
TOTAL OPERATING EXPENSE
6,027-14
16,709.56
RATIO TO NET SALES
39.17%
39,46%
PROFIT FROM OPERATIONS
5,752.09
16,466.28
OTHER INCOME — NET
189.69
539.59
NET INCOME
5,941.78
17,005.87
RATIO TO NET SALES
38.61%
40.16%
OPERATING EXPENSE
WAGES
LAUNDRY
BAR SUPPLIES
CASUALTY & LIABILITY INS.
DEPRECIATION
REPAIRS
-36-
4TH QTR.
1978
4,215.37
82.82
632.83
52.26
1,036.80
7.06
6,027.14
YEAR TO
DATE 1977
YEAR TO
DATE 1978
11,655.35
316.70
2,044.51
146.76
2,515.68
30.56
16,709.56
INCREASE
DECREASE'*
42,336.71
160.87
33,175.84
11.655.35
5,054.21
16,709.56
16,466.28
539.59
17,005.87
ST. ANTHONY MLINIC IPAL LIQUOR STORES
SUMMARY OF- ON AND OFF SALES
YEAR TO LJE CEM B ER 31, 11578
STORE TWO
ON SALE
4TH QTR.
--12-7-16—
YEAR TO
GA1878
YEAR
INCREASE
NET SALES
54,126-05
�TE �
202 21.2
,221.60
9To
DATE 1 7
DECREASE*
COST OF GOODS SOLD
_ 12.'� -It.89
211'628'67
9,307.38
GROSS PROFIT FROM SALES
41,404,16
149,099.69�.e
6—,--23'
RATIO TO NET SALES
76,4°
73.69%
152,286.84
3,187.151
OPERATING EXPENSE:
71.95%
1.74%
SALARIES, WAGES, BENEFITS
18,224 0 79
75,729-73
ALL OTHER EXPENSE
8,08 2,20
28,272.76
11332.01*
TOTAL OPERATING EXPENSE
26,307 ,69
1°4,0°2,49
—�77,061.74021.68
2,648,92*
L*
�92
RATIO To NET SALES
48.60)%
51.4DI
107,983-42
3,980.93*
PROFIT FROM OPERATIONS
15,09 6 .47
45,097.20
51.02
0.38%
OTHER INCOME - NET
59 3.54
2,896 8
44'303.42
793.78
NET INCOME
15,690.01
-�-
47,994.04
2'982 2p
-- 6*
RATIO TO NET SALES
2a.9e�
23.72
47,285.62
70e.Q2
OFF SALE
22.34
1.38'%
NET SALES
COST OF G000s SOLO
220,224.28
166,494 77
727,670.87
66
GROSS PROFIT
555,-920.03
�9,�34Jg4.p0�8
9.92
58,326.79
FROM SALES
53,729.
171,750.84
--'
Q1 dp. 11
RATIO To NET SALES
24. 39%
%
23.60/
.66,
154,764.16
16,986.68
OPER/,TING EXPENSE:
�3.1�wf�
0,48%
"�°
SALARIES, WAGES, BENEFITS
17,467.90
71,470.28
ALL OTHER EXPENSE
8.506.47
2 11 .3
65,771.11
5,699 17
TOTAL OPERATING EXPENSE
26,064-37
4.37
103,584.62
96
2 1.6 *
RATIO TO NET SALES
11.83%
1 4.232
100,637.10
2,947.52
PROFIT FROM OPERATIONS
27,665.14
68 166.22
15.03
0.80f*
OTHER INCOME - NET
1,432.67
4,319 84
54�,(-1,g2�7,�p6
2--`=
14,039.16
NET INCOME
29,097,81
~_
72.49.96%
6
1,625.20
RATIO TO NET SALES
13.21 o�
9.96
56.821.70
15,664.36
e.48J
1.48%
-37-
ST. ANTHONY MUNICIPAL LIQUOR STORES
OPERATING EXPENSE
YEAR TO DECEMBER 31, 1978
COMBINED
BAR WAGES
OFF SALE WAGES
CUSTODIANS WAGES
MANAGERS SALARIES
`----a6OTCICEEPERS SALARIES
MEDICAL - LIFE INSURANCE
PENSION CONTRIBUTION
UNEMPLOYMENT TAXES
PAYROLL EXPENSE
LAUNDRY
BAR SUPPLIES
OFF SALE SUPPLIES
CLEANING SUPPLIES
OFFICE EXPENSE
TRAVEL
SUPPLIES - EXPENSE
RENT,
HEAT - FUEL
UTILITIES
TELEPHONE
SANITATION EXPENSE
CASUALTY - LIAB. INSURANCE
REPAIRS - MAINTENANCE
DEPRECIATION
EQUIPMENT RENTAL
OCCUPANCY EXPENSE
SECURITY SERVICE
ADVERTISING - SIGNS
ACCTG. - LEGAL - LICENSES
MUSIC SERVICE
SERVICE EXPENSE
TOTAL OPERATING EXPENSE
4TH QTR.
1978
YEAR TO
DATE 1978
YEAR TO
DATE 1977
INCREASE
DECREASE*
35,703.69
24,674.42
139,444.37
93,023,72
128,832.68
87,635.27
10,611.69
4,634.72
109619.03
23,101.35
—42,6";>,&12�
21,727.00
32
5,388,45
1,374.35
—4635�70
2,087.53 4.21
28,393.13
27,761.86 -28
1.02
3,6s1.27
8,589.91
32,039.68
25,969.07
6,070.61
-
1,329.00
1,834.92
50 ,92*
92,463.51367
9_ 35.E
335,688.40
1,554.49
6,128.25
5,411.51
716.74
2,153.83
1,301.57
5,875.96
5,635.34
2,429.58
5,223.95
3,446.38
868.58
2,935.20
1,709.13
411.39
1,226.07
1,340.37
3,364.22
2,747.04
617.18
490.00
2,478.60
2,467.44
11.16
7,708.84
26.x17.57
19,988,65
6,x28.92
3,997.38
962.49
17,053.12
3,698.75
17,126.42
2,962.23
73.30*
4,633.80
17,658.10
16,535.19
736.52
1,122.91
486.36
1,962.81
1,601.96
360.85
437.35
11,615.18
1,718.40
40,213.08
1,556.70
47,897.75
161.70
7,684.67*
4,288.73
6,976.88
14,726.99
25,986.39
11,337.30
23,616.87
3,389.69
2,369,52
184.87
952.53
2,356.29
WO.L.76*
33.58 .0a
123,970.17
_124,990.71
1,020.54*
703.85
163.56
2.638.49
1,011.55
2,526.51
2,214,37
111.98
644.00
2,028.00
1,948.00
1,202.82*
80.00
5,850.00
23,150,00
14,620.00
8 O.oO
7,361.4128,828.04
21,308.68
1 .16
141,116.80
547
501,976.64
4 1 k -Z
-38-
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-39-
ST. ANTHONY MUNICIPAL LIQUOR STORES
NOTES ON YEAR END REPORT
YEAR TO DECEMBER 31, 1978
BALANCE SHEET
INVENTORIES INCREASED $20,939. OVER THE 3RD QUARTER 1978, AND $16,059. OVER
THE 4TH QUARTER 1977. NET INCOME IS UP $63,931. OVER 1977.
INCOME STATEMENT
NET SALES FOR 1978 ARE UP $220,852. OVER 1977. COST OF GOODS SOLD IS UP
$125,320. GROSS PROFIT BEFORE DISCCUNTS IS UP $95,531. PROMOTIONAL DISCOUNTS
ARE UP $2,577. OPERATING EXPENSE IS UP $45,175. AND NET INCOME IS UP
$63.931.
STORE ONE
NET SALES UP $171,832. COST OF GOODS SOLD UP $88,417. GROSS PROFIT BEFORE
DISCOUNTS UP $83,415. DISCOUNTS UP $894. OPERATING EXPENSE UP $46,208.
NET INCOME UP $47,559.
STORE TWO
NET SALES UP $49,019. COST OF GOODS SOLD UP $36,903. GROSS PROFIT BEFORE
DISCOUNTS UP $12,116. DISCOUNTS UP $1,684. OPERATING EXPENSE DOWN $1,033.
NET INCOME UP $16,373.
ON SALE
COMBINED SALES UP $76,720. NET INCOME UP $36,529.
STORE #1 SALES UP $43,691. NET INCOME UP $18,814.
SPEAKEASY SALES $42,337. NET INCOME $17,006. OR 40% OF NET SALES.
STORE #2 SALES DOWN $9,307. NET INCOME UP $706.
OFF SALE
COMBINED SALES UP $144,132. NET INCOME UP $27,403.
STORE #1 SALES UP $85,805. NET INCOME UP $11,738.
STORE #2 SALES UP $58,327. NET INCOME UP $15,664.
-40-